Document:

Exclusive License Agreement, St. Jude Children's Research Hospital, Inc.

 Exhibit 10.11 

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

BETWEEN 
 ST. JUDE
CHILDREN’S RESEARCH HOSPITAL, INC. 
 & 

JUNO THERAPEUTICS, INC. 

ST. JUDE File No.: SJ-03-0018 

 LICENSE AGREEMENT 

THIS LICENSE AGREEMENT (the “AGREEMENT”) is entered into as of December 3, 2013 (the “EFFECTIVE DATE”) by and between
ST. JUDE CHILDREN’S RESEARCH HOSPITAL, INC., a Tennessee not-for-profit corporation having an address at 262 Danny Thomas Place, Memphis, TN 38105 (“ST. JUDE” or “LICENSOR”), and JUNO THERAPEUTICS, INC., a Delaware
corporation, having an address at 8725 W. Higgins Road, Suite 290, Chicago, IL 60631 (“COMPANY”) (ST. JUDE and COMPANY hereinafter each referred to as a “PARTY”, or collectively referred to as the “PARTIES”) with
respect to the following: 
 RECITALS 

WHEREAS, as a center for research and education, ST. JUDE is interested in licensing PATENT RIGHTS (hereinafter defined) in a manner that will
benefit the public by facilitating the development and distribution of useful products and the utilization of new processes, but is without capacity to commercially develop, manufacture, and distribute any such products or processes; and 

WHEREAS, a valuable invention(s) titled “Chimeric Receptors with 4-1BB Stimulatory Signaling Domain” (ST. JUDE File No.: SJ-03-0018)
was developed during the course of research conducted by Drs. Dario Campana and Chihaya Imai while employed by ST. JUDE (all hereinafter referred to as “INVENTORS” and each individually referred to as an “INVENTOR”); and

 WHEREAS, LICENSOR has acquired through assignment by each of the INVENTORS all rights, title and interest, with the exception of certain
retained rights by the United States Government, in their interest in said valuable inventions; and 
 WHEREAS, COMPANY desires to obtain
certain rights in such inventions as herein provided and to commercially develop, manufacture, use and/or distribute products based upon or embodying said valuable inventions throughout the world; and 

  
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 NOW THEREFORE, in consideration of the premises and the mutual promises and covenants contained
in this AGREEMENT, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the PARTIES hereto agree as follows: 

ARTICLE 1 
 DEFINITIONS

 All references to particular Exhibits, Articles or Paragraphs shall mean the Exhibits to, and Paragraphs and Articles of, this
AGREEMENT, unless otherwise specified. For the purposes of this AGREEMENT and the Exhibits hereto, the following words and phrases shall have the following meanings: 

1.1 “AFFILIATED COMPANY” as used herein in either singular or plural shall mean any corporation, company, partnership, joint
venture or other entity, which controls, is controlled by or is under common control with COMPANY. For purposes of this Paragraph 1.1, control shall mean the direct or indirect ownership of at least fifty- percent (50%) of the voting or
economic interest in said entity. Any AFFILIATED COMPANY that is exercising rights under this AGREEMENT shall provide a written acknowledgement to LICENSOR that they are bound by, and agree to abide by, the terms of this AGREEMENT. 

1.2 “BLA” shall mean a Biologics License Application, as defined in the U.S. Federal Food, Drug, and Cosmetics Act, as
amended, and the regulations promulgated thereunder, any alternate market approval application including without limitation a New Drug Application or 510k application, and any corresponding supranational, foreign or domestic equivalent marketing
authorization application, registration or certification, necessary to market a LICENSED PRODUCT. 
 1.3 “EFFECTIVE DATE”
of this LICENSE AGREEMENT shall mean the date set forth above. 
 1.4 “LICENSED FIELD” shall mean all therapeutic,
diagnostic, preventative and palliative uses. 
 1.5 “LICENSED PRODUCT(S)” as used herein in either singular or plural
shall mean, on a country by country basis, any material, cell, composition, drug, or other product, the manufacture, use, importation, offer for sale or sale of which would constitute, but for the license granted to COMPANY pursuant to this
AGREEMENT, an infringement of a VALID CLAIM of PATENT RIGHTS in that country (infringement shall include, but is not limited to, direct, contributory, or inducement to infringe), assuming, for purposes of determining coverage by this definition,
that all pending claims within the PATENT RIGHTS have issued. For the purpose of determining diligence and achievement of clinical development milestones, a product shall fall within this definition even if the exception set forth in 35 U.S.C.
§ 271(e)(1) may apply. 
 1.6 “LICENSED SERVICES” shall mean, on a country-by-country basis, any service
performed for or on behalf of a third party on a fee-for-service or other basis, the performance of which in the country in question would (without the license granted under the AGREEMENT) infringe at least one VALID CLAIM in that country. 

  
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 1.7 “NET SALES” shall mean the gross amount billed by COMPANY, AFFILIATES or
SUBLICENSEES for LICENSED PRODUCTS or LICENSED SERVICES, less the following: 
 (a) customary trade, quantity, or cash discounts to the
extent actually allowed and taken; 
 (b) amounts repaid or credited by reason of rejection or return of LICENSED PRODUCTS not replaced or
LICENSED SERVICES not re-performed; 
 (c) to the extent separately stated on purchase orders, invoices, or other documents of sale, any
taxes or other governmental charges levied on the production, sale, transportation, delivery, or use of a LICENSED PRODUCT or performance of a LICENSED SERVICE, which is paid by or on behalf of COMPANY or AFFILIATES; and 

(d) outbound transportation costs prepaid or allowed and costs of insurance in transit. 

No deductions shall be made for [***]. NET SALES shall occur on the date of billing for a LICENSED PRODUCT or LICENSED SERVICE. 

Customary distribution of free samples of LICENSED PRODUCT or related performance of LICENSED SERVICES by COMPANY or AFFILIATES that
constitute less than [***] of the total annual distribution of LICENSE PRODUCTS and LICENSED SERVICES shall not be included in any calculation of NET SALES. 

1.8 “PATENT RIGHTS” shall mean (a) the patent and patent applications listed on Exhibit A hereto, (b) any
other patent or patent application that claims priority to, or common priority with, or is a divisional, continuation, reissue, renewal, reexamination, substitution or extension of any patent or patent application identified in (a); (c) any
patents subsequently issuing on any patent application identified in (a) or (b), including any reissues, renewals, reexaminations, substitutions or extensions thereof; (d) any claim of a continuation-in-part application or patent
(including any reissues, renewals, reexaminations, substitutions or extensions thereof) that is entitled to the priority date of at least one of the patents or patent applications identified in (a), (b) or (c); (e) any foreign counterpart
(including PCTs) of any patent or patent application identified in (a), (b), (c) or (d); and (f) any supplementary protection certificates, pediatric exclusivity periods, any other patent term extensions and exclusivity periods and the
like of any patents and patent applications identified in (a) through (e). PATENT RIGHTS shall also include any patent applications or patents filed by the Trustees of the University of Pennsylvania (“Third Party Patent
Rights”) claiming, in whole or part, subject matter disclosed in any of the foregoing patent applications and/or patents to the extent that the inventorship of such Third Party Patent Rights includes, or is corrected to include, one or more
of the inventors named in any of the PATENT RIGHTS described in subParagraphs (a)- (f) above. Specifically excluded from PATENT RIGHTS are U.S. Patent Nos. [***] and [***], and any other patent or patent application that claims priority to, or
common priority with, or is a divisional, continuation, re-issue, renewal, reexamination, substitution or extension of any patent or patent application identified in clause (a) above that contains only claims directed to the [***]. 

1.9 “PHASE I CLINICAL TRIAL” shall mean a human clinical trial, the principal purpose of which is a preliminary determination
of safety in healthy individuals or patients as required in 21 C.F.R. §312, or a similar clinical study prescribed by the regulatory authorities in a country other than the United States. 

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

  
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 1.10 “PHASE II CLINICAL TRIAL” shall mean (i) a human clinical trial, for
which a primary endpoint is a preliminary determination of efficacy or dose ranges in patients with the disease target being studied as required in 21 C.F.R. §312.21(b), as may be amended from time to time, or a similar clinical study
prescribed by the regulatory authorities in a country other than the United States, or (ii) a combined Phase I and Phase II Clinical Trial which [***], or any Phase III Clinical Trial performed in lieu of a Phase II study. 

1.11 “PHASE III CLINICAL TRIAL” shall mean a human clinical trial, the principal purpose of which is to establish safety and
efficacy in patients with the disease target being studied as required in 21 C.F.R. §312, or similar clinical study prescribed by the regulatory authorities in a country other than the United States. A Phase III Clinical Trial shall also
include any other human clinical trial intended as a pivotal (a Phase II trial that provides evidence for a drug marketing approval) study, whether or not such study is a traditional Phase III study. 

1.12 “SUBLICENSE” means any agreement or multiple agreements with a third party which is not an AFFILIATED COMPANY in which
COMPANY: 
 (a) Grants rights in, to or in respect of any of the PATENT RIGHTS; 

(b) Grants the right to make, use, offer for sale, sell or import a LICENSED PRODUCT, or to provide a LICENSED SERVICE; 

(c) Agrees not to assert the PATENT RIGHTS or agrees not to sue, seek damages or seek injunctive relief for the practice of same; 

(d) Assigns or otherwise transfers this AGREEMENT other than as permitted under Article 10.9 herein below and provided that LICENSOR has
elected to treat such assignment or transfer as a SUBLICENSE; or 
 (e) Is under an obligation to do any of the foregoing, or to forbear
from offering to do or doing any of the foregoing with any other entity. 
 The term SUBLICENSE as defined above includes without limitation
any agreement that provides a license, option, right of first refusal or negotiation, or covenant not to sue, regarding the PATENT RIGHTS. 

1.13 “SUBLICENSEE(S)” as used herein in either singular or plural shall mean any person or entity to which COMPANY has
granted a SUBLICENSE. 
  
 [***] Certain information in this document has been
omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 1.14 “SUBLICENSE CONSIDERATION” shall mean consideration of any kind received by
the COMPANY from a SUBLICENSEE(S) for the grant of a SUBLICENSE under or in respect of this AGREEMENT, including, but not limited to, license issue fees, option fees and other licensing fees, milestone payments, minimum annual royalties, license
maintenance fees, success fees, and other payments of any kind whatsoever. However, not included in such SUBLICENSE CONSIDERATION are: 
 (a)
[***], 
 (b) [***], 
 (c)
[***], and 
 (d) [***]. 
 To the extent that
third party rights are sublicensed in combination with the PATENT RIGHTS, the SUBLICENSE CONSIDERATION allocated to the PATENT RIGHTS shall be determined by COMPANY, in consultation with LICENSOR, in good faith with respect to the PATENT RIGHTS and
such other rights. 
 1.15 “VALID CLAIM” as used herein in either singular or plural shall mean a claim of any
(i) issued and unexpired patent included within the PATENT RIGHTS unless the claim has been held unenforceable or invalid by the final, un-reversed, and un-appealable decision of a court or other government body of competent jurisdiction, has
been irretrievably abandoned or disclaimed, or has otherwise been finally admitted or determined to be invalid, unpatentable or unenforceable, whether through reissue, reexamination, disclaimer or otherwise, or (ii) a pending claim of a patent
application within the PATENT RIGHTS to the extent the claim continues to be prosecuted in good faith and has not been cancelled, withdrawn, abandoned or finally disallowed without the possibility of appeal or re-filing of such application. 

ARTICLE 2 
 LICENSE GRANT

 2.1 Grant. Subject to the terms and conditions of this AGREEMENT, LICENSOR hereby grants to COMPANY (i) an exclusive license to develop,
make, have made, use, import, offer for sale, sell, and have sold the LICENSED PRODUCT(S) and LICENSED SERVICES worldwide under the PATENT RIGHTS in the LICENSED FIELD. This license grant shall apply to the COMPANY and any AFFILIATED COMPANY, except
that any AFFILIATED COMPANY shall not have the right to sublicense others as set forth in Paragraph 2.2 below. If any AFFILIATED COMPANY exercises rights under this AGREEMENT, such AFFILIATED COMPANY shall be bound by all terms and conditions of
this AGREEMENT, including, but not limited to, indemnity and insurance provisions and royalty and other payment provisions, which shall apply to the exercise of the rights, to the same extent as would apply had this AGREEMENT been directly between
LICENSOR and the AFFILIATED COMPANY. In addition, COMPANY shall remain fully liable to LICENSOR for all acts, omissions and obligations of AFFILIATED COMPANY such that acts, omissions and obligations of the AFFILIATED COMPANY shall be considered
acts, omissions and obligations of the 
  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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COMPANY. This exclusive license grant is subject to (i) rights retained by the United States Government, if any, in accordance with the Bayh-Dole Act of 1980 (established by P.L. 96-517 and
amended by P.L. 98-620, codified at 35 USC § 200 et. seq. and implemented according to 37 CFR Part 401), and (ii) the retained rights of LICENSOR to make, have made and use the inventions claimed in the PATENT RIGHTS for
LICENSOR’S internal, non-commercial research purposes. For the avoidance of doubt, LICENSOR shall continue to have the right to distribute its biological materials embodying PATENT RIGHTS for non-profit, academic research use under the material
transfer agreements (MTAs) found in Exhibits E and F. 
 If LICENSOR transfers to a third party any Materials (as defined in the MTAs) covered in whole or
part by the PATENT RIGHTS licensed to COMPANY, and is notified by any recipient of any inventions made with the use of such transferred Materials, including without limitation, any patent applications disclosing or claiming any such inventions,
LICENSOR shall promptly notify COMPANY, providing any and all information that LICENSOR has regarding such inventions and/or patent applications. At the request of COMPANY, LICENSOR shall negotiate in good faith the terms of a non-exclusive,
royalty-bearing worldwide license, with the right to sublicense to COMPANY, with regard to such inventions and/or patent applications to make, have made, use, offer for sale and sell products. LICENSOR shall consult with COMPANY regarding
acceptable financial and other terms for any such license and not enter into any agreement with such third party except on terms acceptable to COMPANY. COMPANY shall be responsible for the payment to LICENSOR [***] to the third party for such a
license; provided, in no event shall the amount payable to LICENSOR for such a license be more than LICENSOR owes to the third party for any such license. In the event that LICENSOR enters into any such license, the parties shall promptly enter
into a written amendment to this AGREEMENT consistent with this paragraph. 
 2.2 Sublicense. COMPANY may grant SUBLICENSES under the
PATENT RIGHTS to third parties pursuant to this AGREEMENT, subject to the terms and conditions of this Paragraph 2.2. COMPANY shall provide LICENSOR with an unredacted copy of each SUBLICENSE between COMPANY and a third party for the grant of rights
under the PATENT RIGHTS within thirty (30) days of its execution. Each SUBLICENSE shall: (a) be consistent with the terms, conditions and limitations of this AGREEMENT, (b) name LICENSOR as an intended third party beneficiary of the
obligations of SUBLICENSEE without imposition of obligation or liability on the part of LICENSOR or the INVENTORS to the SUBLICENSEE, and (c) [***]. Each SUBLICENSE furnished to LICENSOR by COMPANY shall be the Confidential Information of
COMPANY. COMPANY shall (i) be and remain responsible for the performance by such SUBLICENSEE with the terms of this AGREEMENT, and any action by a SUBLICENSEE that would, if conducted by COMPANY be a breach of this AGREEMENT, shall be deemed a
breach of this AGREEMENT by COMPANY, and (ii) ascertain, calculate, audit and collect all royalties that become payable by such SUBLICENSEE hereunder and take appropriate 

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

  
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enforcement action against such SUBLICENSEE for any failure to pay or to properly calculate payments. LICENSOR shall not exercise any of its rights as a third party beneficiary granted to it
pursuant to clause (b) above unless: (w) LICENSOR has notified COMPANY in writing of the obligation of SUBLICENSEE sought to be enforced (the “Obligation”); (x) the Obligation has as its origin a requirement of this
AGREEMENT; (y) COMPANY has failed to commence and continue to pursue reasonable steps within thirty (30) days of notice from LICENSOR pursuant to clause (w) above to enforce the Obligation or SUBLICENSEE has not fulfilled the
Obligation within ninety (90) days of notice to COMPANY pursuant to clause (w) above, and (z) at the time LICENSOR asserts its rights as a third party beneficiary against SUBLICENSEE, LICENSOR shall have a reasonable basis for
believing that SUBLICENSEE is in breach of the Obligation sought to be enforced. 
 2.3 Government Rights. The United States
Government has acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the inventions described in PATENT RIGHTS throughout the world. The rights granted herein are
additionally subject to, and expressly conditioned upon compliance with (i) the provisions of the Bayh-Dole Act, 35 USC § 200 et seq, and (ii) other rights acquired, or requirements imposed, by the United States government under
the grant/contract award terms and the laws and regulations applicable to the grant/contract award under which the inventions were made. 

2.4 Duties of the Parties. LICENSOR is an institute of research and education and not a commercial organization. Therefore, LICENSOR
has no ability to evaluate the commercial potential of any PATENT RIGHTS, LICENSED PRODUCT or LICENSED SERVICES or other license or rights granted in this AGREEMENT. It is therefore incumbent upon COMPANY to evaluate the rights, products and
services in question, to examine the materials and information provided by LICENSOR and to determine for itself the validity of any PATENT RIGHTS, its freedom to operate, and the value of any LICENSED PRODUCTS or LICENSED SERVICES or other rights
granted. 
 ARTICLE 3 

FEES, ROYALTIES, & PAYMENTS 

3.1 License Fee. COMPANY shall pay to LICENSOR within [***] of the EFFECTIVE DATE a license fee as set forth in Exhibit B.
LICENSOR will not submit an invoice for the license fee, which is nonrefundable and shall not be credited against royalties or other fees. Time is of the essence with respect to payment of this fee. This AGREEMENT shall be null and void ab initio
if the License Fee is not received within [***] of the EFFECTIVE DATE. 
 3.2 Minimum Annual Royalties. COMPANY shall pay to
LICENSOR minimum annual royalties as set forth in Exhibit B. These minimum annual royalties shall be due, [***] on January 1 following each anniversary of the EFFECTIVE DATE 

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

  
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beginning with the first anniversary, and shall be payable within [***] thereafter. For clarity, the first minimum annual royalty payment, for the calendar year 2014, shall be due on
January 1, 2015, and payable no later than [***]. Running royalties accrued under Paragraph 3.3 and paid to LICENSOR for a given calendar year shall be credited against the minimum annual royalties due for such calendar year. For example,
running royalties accrued under and paid to LICENSOR during calendar year 2015 shall be credited only against the minimum annual royalty payment due and payable no later than [***]. 

3.3 Running Royalties. COMPANY shall pay to LICENSOR a running royalty as set forth in Exhibit B, for LICENSED PRODUCT(S)
and LICENSED SERVICE sold by COMPANY, AFFILIATED COMPANIES and/or SUBLICENSEE(S), based on NET SALES for the Term of this AGREEMENT. Such payments shall be due semi-annually (June 30th and
December 31st) and shall be payable within [***] of the end of each half year. Such royalties shall [***] based on [***] related to LICENSED PRODUCTS and LICENSED SERVICES. 

Notwithstanding anything to the contrary in this AGREEMENT, in order to insure LICENSOR the full royalty and other payments contemplated
hereunder, COMPANY agrees that in the event any LICENSED PRODUCT(S) or LICENSED SERVICES shall be sold to a corporation, firm or association (the “PURCHASER”) with which COMPANY shall have any agreement, understanding or arrangement with
respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) received by COMPANY with respect to sale of such LICENSED
PRODUCT(S) or LICENSED SERVICES, the royalties to be paid hereunder to LICENSOR for such LICENSED PRODUCT(S) or LICENSED SERVICES shall be based upon the greater of: 1) the [***] of the LICENSED PRODUCT(S) or LICENSED SERVICES as of the date that
COMPANY receives such consideration from such PURCHASER, or 2) the [***] of LICENSED PRODUCT(S) or LICENSED SERVICES paid by the PURCHASER. 

3.4 SUBLICENSE CONSIDERATION. In addition to the running royalty as set forth under Paragraph 3.3, COMPANY shall pay to LICENSOR, as
set forth on Exhibit B a percentage of SUBLICENSE CONSIDERATION. Any SUBLICENSE CONSIDERATION payment due to LICENSOR shall be due within [***] of the end of the six (6) month calendar period in which any SUBLICENSE CONSIDERATION
was received, [***]. Such payment shall be accompanied by a detailed written report setting forth the nature and scope of the rights granted, and the total consideration received. COMPANY shall not directly or indirectly accept [***]. 

3.5 Milestone Payments. COMPANY shall pay to LICENSOR the milestone payments as set forth in Exhibit C for the term of this
AGREEMENT. For the avoidance of doubt, clinical trials of LICENSED PRODUCT conducted by COMPANY or on its behalf by other entities with respect to which COMPANY owns or has the right to use the data resulting 

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

  
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therefrom and has an obligation to report such results to the regulatory authority having jurisdiction over the conduct of human clinical trials and the approval of products for human use in the
jurisdiction where such clinical trials are conducted, including ongoing clinical trials at Fred Hutchinson Cancer Research Center sponsored by COMPANY, shall be considered for determining achievement of milestones. All non-US taxes (excluding any
taxes based on LICENSOR’S income) related to milestone payments shall be paid by COMPANY and shall not be deducted from payments due to LICENSOR. 

3.6 Patent Prosecution Reimbursement. COMPANY will reimburse LICENSOR, within thirty (30) days of the EFFECTIVE DATE the amount of
[***] for costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred by LICENSOR on or before the EFFECTIVE DATE. In accordance with Paragraph 4.1 below, COMPANY will reimburse LICENSOR, within [***] of the
receipt of an invoice from LICENSOR, for all reasonable costs associated with the preparation, filing, maintenance, and prosecution of PATENT RIGHTS in the LICENSED FIELD incurred by LICENSOR subsequent to the EFFECTIVE DATE. 

3.7 Form of Payment. All payments under this AGREEMENT shall be made in U.S. Dollars. Checks are to be made payable to “St. Jude
Children’s Research Hospital”. Wire transfers may be made using the following information: 
 Acct Name: St. Jude Children’s
Research Hospital, Master Concentration Account 
 Acct Number: [***] 

Bank Name: First Tennessee Bank 

Bank Swift: FTNMUS44 
 Bank ABA
#: 084-000026 
 Bank Address: Post Office Box 84 

Memphis, TN 38101 
 USA 

COMPANY shall be responsible for any and all costs associated with wire transfers and shall include a reference to this AGREEMENT in any wire
transfer payment. Payments made by check should be sent to the following address: 
 St. Jude Children’s Research Hospital 

P.O. Box 1000, Department # 516 

Memphis, TN 38148-0516 
 3.8
Late Payments. In the event that any payment due hereunder is not made when payable, the payment shall accrue interest beginning on the tenth day following the due date thereof, calculated at the rate of [***] per month from the date said
payment is due, provided however, that in no event shall said annual interest rate exceed the maximum legal interest rate for corporations. Each such payment when made shall be accompanied by all interest so accrued. Said interest and the payment
and acceptance thereof shall not negate or 
  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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waive the right of LICENSOR to seek any other remedy, legal or equitable, to which it may be entitled because of the delinquency of any payment including, but not limited to termination of this
AGREEMENT as set forth in Article 9. 
 3.9 Withholding Taxes. Notwithstanding that LICENSOR is a tax-exempt entity under the United
States Internal Revenue Code, as amended, in the event that payments due to LICENSOR in respect of NET SALES in jurisdictions other than the United States are subject to required withholding, such taxes shall be deducted by COMPANY (or its
SUBLICENSEES) from such payment prior to remittance, and shall be paid over to the relevant taxing authorities when due. COMPANY shall promptly furnish LICENSOR evidence of any such taxes withheld and of payment thereof, and shall render reasonable
assistance to LICENSOR in connection with its invocation of available procedures to seek refund of such payments. 
 ARTICLE 4 

PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT 

4.1 Prosecution & Maintenance. LICENSOR [***] shall be the PARTY responsible for the filing, prosecution and maintenance of
patents and patent applications specified under PATENT RIGHTS and, subject to the terms and conditions of this AGREEMENT, COMPANY shall be licensed thereunder. Title to all such patents and patent applications shall reside in LICENSOR. LICENSOR
shall have full and complete control over all patent matters in connection therewith under the PATENT RIGHTS, provided however, that LICENSOR shall (a) cause its patent counsel, reasonably acceptable to COMPANY, to timely copy COMPANY on all
official actions and written correspondence with any patent office, and (b) allow COMPANY and/or counsel appointed by COMPANY an opportunity and reasonably sufficient time to comment and advise LICENSOR with respect thereto. The exercise of
such right by COMPANY shall not interfere with the timely filing or submission of any document with, or response to, any official patent office. LICENSOR shall consider in good faith and reasonably incorporate all comments and advice from COMPANY,
to the extent that they would tend to cover in more specificity, support or expand the scope of rights sought. By concurrent written notification to LICENSOR and its patent counsel at least [***] in advance of any filing or response deadline, or fee
due date, COMPANY may elect not to have a patent application filed in any particular country or not to pay expenses associated with prosecuting or maintaining any patent application or patent within PATENT RIGHTS, provided that COMPANY pays for
[***] incurred up to LICENSOR’S receipt of such notification. Failure to provide such notification can be considered by LICENSOR to be COMPANY’s authorization to proceed [***]. Upon such notification, at LICENSOR’S own expense,
LICENSOR may file, prosecute, and/or maintain such patent applications or patent within the PATENT RIGHTS with respect to which COMPANY has made the foregoing decision(s) (collectively, the “COMPANY-DECLINED PATENTS”), and any rights or
license granted hereunder held by COMPANY, AFFILIATED COMPANIES or SUBLICENSEE(S) relating to COMPANY-DECLINED PATENTS shall terminate. 
  

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

  
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 4.2 Notification. Each PARTY will notify the other promptly in writing when any
infringement by a third party is uncovered or suspected. 
 4.3 Infringement. 

a. General. Except as is set forth in Paragraph 4.3b, COMPANY shall have the first right to conduct and control, [***], all patent
litigation relating to the PATENT RIGHTS during the Term, including the first right to enforce any patent within PATENT RIGHTS against any infringement or alleged infringement thereof, and shall at all times keep LICENSOR informed as to the status
of all such litigation. Before COMPANY may commence an action with respect to any infringement of the PATENT RIGHTS, it must obtain the consent of LICENSOR, such consent not to be unreasonably withheld. Thereafter, COMPANY may, in its sole
discretion and at its own expense, may institute suit against any such infringer or alleged infringer and control and defend such suit in a manner consistent with the terms and provisions hereof and recover any damages, awards or settlements
resulting therefrom, to be shared by COMPANY and LICENSOR in the manner set forth below. However, no settlement, consent judgment or other voluntary final disposition of the suit may be entered into without the prior written consent of LICENSOR.
LICENSOR shall not unreasonably withhold consent of any settlement, consent judgment or other voluntary final disposition of suit that does not admit the invalidity of any patent within PATENT RIGHTS and which does not purport to admit any fault or
wrongdoing on the part of LICENSOR. LICENSOR shall reasonably cooperate in any such litigation, [***] including by joining as a party if required by applicable law. 

If COMPANY elects not to enforce any patent within the PATENT RIGHTS, then it shall so notify LICENSOR in writing within [***] of receiving notice that an
infringement or suspected infringement exists. LICENSOR may, in its sole judgment and at its own expense, take steps to enforce any patent and commence, control, settle, and defend any such suit in a manner consistent with the terms and provisions
hereof, and recover any damages, awards or settlements resulting therefrom, to be shared by COMPANY and LICENSOR in the manner set forth below. At LICENSOR’s request, COMPANY shall reasonably cooperate with any such litigation, at
LICENSOR’s expense. 
  

	 	b.	Ongoing Litigation. COMPANY shall have the obligation to join as a party, and control, pursue and defend, at its own expense, through counsel reasonably acceptable to LICENSOR, the following actions to which
LICENSOR is a party, namely: Trustees of the University of Pennsylvania v. St. Jude Children’s Research Hospital Civil Action No. [***] (the “Contract Claim”) and Trustees of the University of Pennsylvania v. St. Jude
Children’s Research Hospital Civil Action No. 13-1502 (the “Patent Claim”) in a manner consistent with the terms and provisions hereof. COMPANY shall at all times keep LICENSOR informed as to the status thereof, and shall allow
LICENSOR and counsel appointed by LICENSOR an opportunity, and reasonably sufficient time, to comment and advise COMPANY with respect to actions to be taken in connection therewith. Commencing as of the EFFECTIVE DATE, COMPANY shall be responsible
for [***] of LICENSOR’s 

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

  
 11 

	 	
documented reasonable costs and expenses incurred in connection with the foregoing litigation and LICENSOR shall be responsible for [***] ([***]). COMPANY shall reimburse LICENSOR for its share
of such costs within [***] of the receipt of an invoice from LICENSOR. Any recovery in such action (from damages, awards or settlements) shall be allocated as follows: first, LICENSOR shall receive past litigation costs of approximately [***] U.S.
dollars ($[***]) to reimburse it for LICENSOR’s documented costs and expenses incurred in connection with the foregoing litigation prior to the EFFECTIVE DATE (exact costs to be included in an amendment to this AGREEMENT within 3 months of the
EFFECTIVE DATE), second each party shall be reimbursed for its costs and expenses incurred by it in connection with such actions after the EFFECTIVE DATE, and then any remainder shall be shared [***] percent ([***]%) to COMPANY and [***] percent
([***]%) to LICENSOR. However, no settlement, consent judgment or other voluntary final disposition of the suit may be entered into without the prior written consent of LICENSOR. Except as is set forth below, LICENSOR shall not unreasonably withhold
consent of any settlement, consent judgment or other voluntary final disposition of suit that does not admit the invalidity of any patent within PATENT RIGHTS and which does not purport to admit any fault or wrongdoing on the part of LICENSOR.
LICENSOR shall reasonably cooperate in any such actions, at COMPANY’s expense, including by joining as a party if required by applicable law. Any settlement, consent judgment or other voluntary disposition of the Contract Claim shall include a
provision acceptable to LICENSOR requiring that proper credit be given to LICENSOR and the INVENTORS in the work previously performed and to be performed thereafter by any of the defendants. For the avoidance of doubt, the sharing of recovery
provisions set forth above shall govern the division between the LICENSOR and the COMPANY of any consideration payable by, on behalf of, or through the University of Pennsylvania and its affiliates (“Penn”) [***], and shall not be subject
to the provisions of Exhibit B, Paragraph 4. 

 c. Prospective Patent Litigation. With respect to any litigation
controlled by COMPANY pursuant to Paragraph 4.3a, COMPANY shall at all times keep LICENSOR informed as to the status thereof and shall (a) cause its litigation counsel, which counsel shall be reasonably acceptable to LICENSOR, to timely
copy LICENSOR on all official actions and written correspondence, and (b) allow LICENSOR and counsel appointed by LICENSOR an opportunity and reasonably sufficient time to comment and advise COMPANY with respect thereto, [***]; provided that
[***] must be reasonable and reflect that COMPANY is controlling the conduct of such litigation. COMPANY, in responding to the comments and advice of LICENSOR, shall give careful consideration to the views of LICENSOR and to potential effects on
LICENSOR’S interests under this AGREEMENT and to potential effects on the public interest in any such action. However, no settlement, consent judgment or other voluntary final disposition of the suit may be entered into without the prior
written consent of LICENSOR. LICENSOR shall not unreasonably withhold consent of any settlement, consent judgment or other voluntary final disposition of suit that does not admit the invalidity of any patent within PATENT RIGHTS and which does not
purport to admit any fault or wrongdoing on the part of 
  
 [***] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 12 

 
LICENSOR. LICENSOR shall cooperate fully with COMPANY in connection with any litigation related to PATENT RIGHTS, [***]. Any recovery obtained as a result of such litigation shall (i) first,
go to reimburse the PARTY controlling the litigation for its out of pocket costs in connection with such litigation; (ii) second, from any damages awarded other than for willful infringement, LICENSOR shall receive the equivalent of [***] based
on the [***] or [***] (i.e., an amount equal to [***]), and (iii) any damages awarded for willful infringement shall go [***] percent ([***]%) to the PARTY controlling the litigation and [***] percent ([***]%) shall go to the other PARTY. 

ARTICLE 5 
 OBLIGATIONS
OF THE PARTIES 
 5.1 Reports. COMPANY shall provide to LICENSOR the following written reports, which reports shall be
Confidential Information of COMPANY, according to the following schedules. 
 (a) COMPANY shall provide semi-annual royalty reports,
substantially in the format of Exhibit D, or as may be otherwise agreed by the parties in writing and due within [***] of the end of each calendar half year following the first commercial sale of a LICENSED PRODUCT. Royalty Reports shall
disclose the amount of [***]. Payment of any such royalties due shall accompany such Royalty Reports. 
 (b) Until such time as COMPANY, an
AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a first commercial sale of a LICENSED PRODUCT, or received FDA market approval, COMPANY shall provide annual diligence reports, due within [***] of the end of every December following the
EFFECTIVE DATE of this AGREEMENT. These diligence reports shall describe COMPANY’s, AFFILIATED COMPANY’s or any SUBLICENSEE(S)’s technical and other efforts towards meeting its obligations under the terms of this AGREEMENT,
particularly its progress toward achieving the developmental milestones set forth in Exhibit C and shall explain any delays experienced in achieving such milestones relative to the projected dates for achievement set forth in
Exhibit C. 
 (c) COMPANY shall further provide in conjunction with the reports due pursuant to Paragraphs 5.1(a) and 5.1(b),
the following information: 
 [***] 
  

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

  
 13 

 5.2 Records. COMPANY shall make and retain, for a period of [***] following the period of
each report required by Paragraph 5.1(a), true, complete and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of sales and other information required in Paragraph
5.1(a). Such books and records shall be in accordance with generally accepted accounting principles consistently applied. COMPANY shall permit the inspection of such records, files and books of account by LICENSOR’S agent (the
“Auditor”), which Auditor shall be a nationally recognized auditor acceptable to COMPANY, such acceptance not to be unreasonably withheld, and subject to obligations of confidentiality and nonuse owed to LICENSOR consistent with the
confidentiality and non-use obligations set forth in this Agreement. Any such inspection shall occur during regular business hours upon [***] written notice to COMPANY. Such inspection shall not be made more than once each calendar year. All costs
of such inspection shall be paid by LICENSOR, provided that if any such inspection shall reveal that an error or omission has been made resulting in an underpayment equal to [***], the costs of such inspection shall be borne by COMPANY. As a
condition to entering into any agreement, COMPANY shall include in any agreement with its AFFILIATED COMPANIES or its SUBLICENSEE(S) which permits such party to make, use, offer to sell, sell or import the LICENSED PRODUCT(S) or LICENSED SERVICES, a
provision requiring such party to retain records of sales of LICENSED PRODUCT(S) or LICENSED SERVICES and other information as required in Paragraphs 5.1(a) and this Paragraph 5.2 and permit the Auditor to inspect such records as required by this
Paragraph 5.2. All information and records made available to the Auditor pursuant to this Paragraph 5.2 shall be deemed to be and treated as Confidential Information of COMPANY pursuant to Article 8. 

5.3 Commercially Reasonable Efforts. COMPANY shall exercise commercially reasonable efforts to develop and to introduce the LICENSED
PRODUCT(S) and/or LICENSED SERVICES into the commercial market as soon as practicable, consistent with sound and reasonable business practice and judgment; thereafter, until the expiration or termination of this 

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

  
 14 

 
AGREEMENT, COMPANY shall endeavor to keep LICENSED PRODUCT(S) and LICENSED SERVICES reasonably available to the public. COMPANY shall also exercise commercially reasonable efforts to develop
LICENSED PRODUCT(S) suitable for different indications within the LICENSED FIELD, so that the PATENT RIGHTS can be commercialized as broadly and as speedily as good scientific, clinical and business judgment would deem possible. Development
Milestones for the LICENSED PRODUCTS are detailed in Exhibit C. 
 COMPANY shall notify LICENSOR well in advance if COMPANY
believes that it will fail to achieve the Development Milestones in the expected timeframe as detailed in Exhibit C despite its exercise of commercially reasonable and diligent efforts. 

If COMPANY fails to achieve any of the Development Milestones described in Exhibit C within the timeframes specified due to causes that
are beyond the reasonable control of COMPANY, (e.g., regulatory action or delay, low patient enrollment, in each case, provided that the COMPANY has conducted the relevant activities in a reasonable manner), notwithstanding COMPANY’s
reasonable, good faith efforts to achieve those milestones, then COMPANY will not be deemed in default or breach of this AGREEMENT and the timeframe for achieving those milestones will be deemed automatically extended by the time of the delay
reasonably attributable to the causes that were beyond COMPANY’s control as long as COMPANY diligently and continuously pursues the achievement of such milestones. A failure on the part of COMPANY [***] to pursue timely achievement of the
Development Milestones shall be deemed to be a failure within the control of COMPANY. 
 In the event that the foregoing paragraph does not
apply, if the COMPANY fails to reach any milestone in Exhibit D for which a payment is required, then COMPANY may extend that milestone completion date and all subsequent milestone completion dates for a period of [***] (each a “Delayed
Milestone”). In order to be entitled to that extension, COMPANY shall, within [***] after the applicable deadline for the achievement of the applicable milestone (i) pay to LICENSOR [***] of the Milestone Payment that would otherwise
have been due had COMPANY timely achieved the applicable Milestone and (ii) [***]. If COMPANY fails to reach any Delayed Milestone, then COMPANY may obtain a further [***] month extension. In order to be entitled to the second extension, COMPANY
shall, within [***] after the deadline for the achievement of the unachieved Delayed Milestone (a) pay to LICENSOR [***] of the Milestone Payment that would otherwise have been due had COMPANY timely achieved the Delayed Milestone, and
(b) [***]. Total delays granted under this provision shall not exceed [***]. Notwithstanding the above, with regard to milestone 1(g) on Exhibit C ([***]), in the event that COMPANY fails to timely achieve this milestone and seeks one or
more extensions under this paragraph the payment due for any such extension shall be [***]. 
  

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

  
 15 

 Subject to the terms of this Paragraph 5.3, failure by COMPANY or its SUBLICENSEES to achieve the
Development Milestones within the extended timeframe or to diligently and continuously purse the achievement of the Milestones shall be a breach of Paragraph 5.3, and may result in the [***]. In the event COMPANY ceases all activities directed at
the development and commercialization of LICENSED PRODUCT(S) and LICENSED SERVICES, the rights granted to COMPANY under this AGREEMENT shall terminate immediately without further action of either PARTY. 

5.4 Obligations. In the event that LICENSOR determines that COMPANY, AFFILIATED COMPANIES or SUBLICENSEES, have not fulfilled their
obligations under Paragraph 5.3, LICENSOR shall furnish COMPANY with written notice of such determination at which time the provisions of Paragraph 5.3 shall apply. 

5.5 Patent Acknowledgement. COMPANY agrees that all packaging containing individual LICENSED PRODUCT(S) sold by COMPANY, AFFILIATED
COMPANIES and SUBLICENSEE(S) will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws, and that patent marking requirements will otherwise be complied with. 

5.6 Patent Term Extensions. COMPANY and LICENSOR agree that LICENSOR may, in its sole discretion, elect to extend the term of any
patents within the PATENT RIGHTS will be extended by all means provided by law or regulation, including without limitation extensions provided under U.S. law at 35 U.S.C. §§154(b) and 156. COMPANY hereby agrees to provide LICENSOR with all
necessary assistance in securing such extensions, including without limitation, providing all information regarding applications for regulatory approval, approvals granted, and the timing of same. 

5.7 Challenge to Validity/Enforceability of PATENT RIGHTS by COMPANY. If COMPANY challenges the validity or enforceability of PATENT
RIGHTS maintain this AGREEMENT in force during such challenge, and LICENSOR in its sole discretion determines not to terminate the AGREEMENT, then COMPANY shall reimburse LICENSOR for any and all costs incurred in defense of such proceedings,
including without limitation attorney’s fees, expert witness fees and court costs, within [***] of each invoice for same submitted to COMPANY by LICENSOR or LICENSOR’s counsel. Failure to timely reimburse such costs will constitute a
material breach of this AGREEMENT. In addition, any payments required hereunder must be timely made in full when due, in cash and readily available funds; and once paid, no such amounts will be subject to replevin, refund or recovery by COMPANY or
AFFILIATED COMPANIES or SUBLICENSEES, irrespective of whether such challenge was successful. 
  

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

  
 16 

 ARTICLE 6 

REPRESENTATIONS 
 6.1
Representations by LICENSOR. Except for (i) the rights of the Government of the United States of America and (ii) in connection with the transfer of biological materials for academic research purposes, LICENSOR represents and warrants
that: (a) the execution, delivery and performance of this AGREEMENT have been duly authorized by all necessary corporate action on the part of LICENSOR, (b) it is the owner of the entire right, title, and interest in and to the PATENT
RIGHTS, (c) it has the sole right to grant licenses thereunder, (d) it has not granted licenses thereunder or liens, encumbrances, security interests or restrictions to any other entity that would conflict with the rights granted hereunder
except as stated herein, and (e) Exhibit A contains a complete list of all current patent applications and patents owned (in whole and in part) by LICENSOR as of the EFFECTIVE DATE relating to [***]. LICENSOR covenants that it will
not grant during the term of this AGREEMENT any right, license or interest in the PATENT RIGHTS, or any portion thereof, inconsistent with the license granted to COMPANY herein. LICENSOR does not warrant the validity of any patents within the PATENT
RIGHTS or that practice under such patents shall be free of infringement of third party intellectual property rights, and COMPANY assumes all responsibility and liability for any such infringement. EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH
6.1, COMPANY AND AFFILIATED COMPANIES AGREE THAT THE PATENT RIGHTS ARE PROVIDED “AS IS”, AND THAT LICENSOR MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF LICENSED PRODUCT(S) OR LICENSED SERVICES INCLUDING THEIR
SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. LICENSOR DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICES LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND
FITNESS FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, LICENSOR ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF LICENSOR AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT,
INDIRECT, SPECIAL, AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF LICENSORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE,
IMPORTATION, OFFER FOR SALE OR SALE OF THE PRODUCT(S) AND SERVICES LICENSED UNDER THIS AGREEMENT. COMPANY, AFFILIATED COMPANIES AND SUBLICENSEE(S) ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT OR SERVICE
MANUFACTURED, USED, OR SOLD BY COMPANY, ITS SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR LICENSED SERVICE AS DEFINED IN THIS AGREEMENT. 

6.2 Representations by COMPANY. COMPANY represents and warrants that: (a) It is a corporation duly organized and validly existing
under the laws of its jurisdiction of incorporation and has all requisite corporate power and authority to enter into this 
  

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

  
 17 

 
AGREEMENT, (b) it is duly authorized by all requisite action to execute, deliver and perform this AGREEMENT and to consummate the transactions contemplated hereby, and that the same do not
conflict or cause a default with respect to its obligations under any other agreement and (c) it has duly executed and delivered this AGREEMENT. 

ARTICLE 7 

INDEMNIFICATION 
 7.1
Indemnification. COMPANY hereby agrees to, and shall, indemnify, defend, with counsel reasonably acceptable to LICENSOR, and hold LICENSOR, the American Lebanese Syrian Associated Charities, Inc. (ALSAC; a non-profit, 501(c)(3) corporation which
supports LICENSOR), their present and former trustees, directors, governors, officers, INVENTORS of PATENT RIGHTS, agents, faculty, employees and students harmless as against any claims, demands, damages consequential, judgments, fees (including
reasonable attorneys’ fees), expenses, or other costs arising from or incidental to a breach of any representation, warranty or covenant made by COMPANY in this AGREEMENT, any product liability, intellectual property infringement or other
lawsuit, claim, demand or other action brought by a third party as [***], whether or not LICENSORS or said INVENTORS, either jointly or severally, are named as a party defendant in any such lawsuit and whether or not LICENSOR or the INVENTORS are
alleged to be negligent or otherwise responsible for any injuries to persons or property. [***]. The obligation of COMPANY to defend, indemnify and hold harmless as set out in this Paragraph shall survive the termination of this AGREEMENT, shall
continue even after grant, license or assignment of rights and responsibilities to an AFFILIATED COMPANY or SUBLICENSEE, and shall include the obligation to indemnify against any damages awarded a third party, including consequential or indirect
damages. COMPANY shall require any AFFILIATED COMPANY practicing the PATENT RIGHTS and any SUBLICENSEE to agree to indemnification provisions in favor of LICENSOR substantially similar to the above. 

ARTICLE 8 

CONFIDENTIALITY 
 8.1
Confidentiality. If necessary, the Parties will exchange information they consider to be confidential, including but not limited to the terms of this AGREEMENT and any reports or information provided by COMPANY pursuant to Article 5
(“Confidential Information”). The recipient of such information agrees to accept the disclosure of said information. The recipient of Confidential Information agrees to employ all reasonable efforts to maintain the Confidential Information
secret and confidential, such efforts to be no less than the 
  
 [***] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 18 

 
degree of care employed by the recipient to preserve and safeguard its own confidential information. The Confidential Information shall not be disclosed or revealed to anyone except officers,
directors, employees and contractors of the recipient who (i) have a need to know the Confidential Information, (ii) are subject to obligations of confidentiality and non-use substantially similar to those set forth in this Article 8, and
(iii) have been advised by the recipient of the confidential nature of the Confidential Information and that the Confidential Information shall be treated accordingly. 

The obligations of this Paragraph shall also apply to AFFILIATED COMPANIES and/or SUBLICENSEE(S) that are provided such Confidential
Information by COMPANY. LICENSOR’S, COMPANY’s, AFFILIATED COMPANIES’, and SUBLICENSEES’ obligations under this Paragraph shall extend until [***] of this AGREEMENT. 

8.2 Exceptions. The recipient’s obligations under Paragraph 8.1 shall not extend to any part of the Confidential Information: 

 

	 	a.	that can be demonstrated to have been in the public domain or publicly known and readily available to the trade or the public prior to the date of the disclosure; or 

 

	 	b.	that can be demonstrated, from written records to have been in the recipient PARTY’ s possession or readily available to the recipient PARTY from another source not under obligation of secrecy to the
disclosing PARTY prior to the disclosure; or 

  

	 	c.	that becomes part of the public domain or publicly known by publication or otherwise, not due to any unauthorized act by the recipient PARTY; or 

 

	 	d.	that is demonstrated from written records to have been developed by or for the receiving PARTY without reference to Confidential Information disclosed by the disclosing PARTY. 

 

	 	e.	that is required to be disclosed by law, government regulation or court order. 

 8.3
Right to Publish. LICENSOR may publish manuscripts, abstracts or the like describing the PATENT RIGHTS and inventions contained therein provided no Confidential Information of COMPANY as defined in Paragraph 8.1, is included or LICENSOR first
obtains written approval from COMPANY to include such Confidential Information in any such public disclosure. Otherwise, LICENSOR and the INVENTORS shall be free to publish manuscripts and abstracts or the like without prior approval. The text of
the proposed manuscripts, abstracts or the like containing any COMPANY Confidential Information must be provided to COMPANY at least [***] prior to the date of submission for consideration for manuscripts, abstracts or the like in order to provide
COMPANY an opportunity to comment on 
  
 [***] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 19 

 
such proposed manuscripts, abstracts or the like and determine if COMPANY Confidential Information is disclosed therein. In the event that COMPANY so comments prior to such intended submission
date, LICENSOR shall delay submission of such manuscripts, abstracts or the like [***] beyond such intended submission date and, during such [***] period, engage in good faith discussion of such comments with COMPANY, and consider in good faith the
modification of such proposed manuscripts, abstracts or the like pursuant to such comments, but LICENSOR will have no obligation to accept or make such modifications. Upon the request of COMPANY, LICENSOR shall remove any COMPANY Confidential
Information from any proposed manuscripts, abstracts or the like. 
 ARTICLE 9 

TERM & TERMINATION 

9.1 Term. The term of this AGREEMENT shall commence on the EFFECTIVE DATE and shall continue, in each country, until the date of
expiration of the last to expire VALID CLAIM included within PATENT RIGHTS in that country. 
 9.2 Termination by Either PARTY. This
AGREEMENT may be terminated by either COMPANY or LICENSOR, in the event that the other PARTY (a) to the extent permissible under applicable and prevailing law, files or has filed against it a petition under the Bankruptcy Act, makes an
assignment for the benefit of creditors, has a receiver appointed for it or a substantial part of its assets, or otherwise takes advantage of any statute or law designed for relief of debtors or (b) fails to perform or otherwise breaches any of
its obligations hereunder, if, following the giving of notice by the terminating PARTY of its intent to terminate and stating the grounds therefor, the PARTY receiving such notice shall not have cured such failure or breach within sixty
(60) days. In no event, however, shall such notice or intention to terminate be deemed to waive any rights to damages or any other remedy which the PARTY giving notice of breach may have as a consequence of such failure or breach. 

9.3 Termination by COMPANY. COMPANY may terminate this AGREEMENT and the license granted herein as to any patent application or patent
within the PATENT RIGHTS, for any reason, upon giving LICENSOR [***] written notice. 
 9.4 Termination by LICENSOR. Except as may be
otherwise expressly set forth in this AGREEMENT, in the event COMPANY breaches or defaults in the performance of its obligations under this AGREEMENT, LICENSOR may terminate this AGREEMENT and the licenses granted herein upon [***] written notice,
subject to cure thereof by COMPANY in accordance with Paragraphs 5.3 and 5.4. 
 9.5 Obligations and Duties upon Termination. If this
AGREEMENT is terminated, the PARTIES shall be released from all obligations and duties imposed or assumed hereunder to the extent so terminated, except as expressly provided to the contrary in this AGREEMENT. Upon termination subject to Paragraph
9.6, each PARTY shall cease any further use of the Confidential Information received from the other PARTY. Termination of this 
  

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

  
 20 

 
AGREEMENT, for whatever reason, shall not affect the obligation of any PARTY to make any payments for which it is liable prior to or upon such termination. Termination shall not affect
LICENSOR’S right to recover unpaid royalties, fees, reimbursement for patent expenses, or other forms of financial compensation owed prior to termination. Upon termination, COMPANY shall submit a final royalty report to LICENSOR and any royalty
payments (if after first commercial sale of LICENSED PRODUCTS), fees, unreimbursed patent expenses and other financial compensation due to LICENSOR shall become immediately payable. Furthermore, upon termination of this AGREEMENT, all rights in and
to the PATENT RIGHTS shall revert immediately to LICENSOR at no cost to LICENSOR. Upon any termination of this AGREEMENT, any SUBLICENSEE(S) shall become, with such SUBLICENSEE(S)’ agreement, a direct licensee of LICENSOR, provided that
(a) such SUBLICENSEE(S) cure any default of the COMPANY of which they are legally capable, including in all events paying all amounts due under this AGREEMENT, (b) such SUBLICENSEE(S) was not the cause of terminations, and
(c) LICENSOR’S obligations to SUBLICENSEE(S) are no greater than LICENSOR’S obligations to COMPANY under this AGREEMENT and the SUBLICENSEE’S obligations to LICENSOR are no greater than the obligations of COMPANY to LICENSOR
under this AGREEMENT. COMPANY shall provide written notice of such to each SUBLICENSEE(S) with a copy of such notice provided to LICENSOR. 

9.6 COMPANY may, within [***] of the effective date of any termination of this AGREEMENT, sell all LICENSED PRODUCTS and parts therefor
that it has on hand at the date of termination, if COMPANY pays to LICENSOR the earned royalty thereon. 
 ARTICLE 10 

MISCELLANEOUS 
 10.1 Use
of Name or Logo. Neither LICENSOR nor COMPANY shall use the name, image or logo of the other PARTY, or the name of an affiliate, a current of former staff member, employee, student or affiliated physician or faculty of the other PARTY, or any
adaptation thereof, in any advertising, promotional or sales literature without the prior written approval of the PARTY. 
 10.2
Notification of Promotion and Acknowledgment of Contributions. COMPANY shall notify the LICENSOR in writing at least [***] in advance of any press release or promotional communication related to LICENSED PRODUCTS or LICENSED SERVICES or from any
innovations that are a downstream result of research involving the LICENSED PRODUCTS or LICENSED SERVICES to determine whether the LICENSOR wishes to be acknowledged. Promotional communications include online content, brochures, advertising or
public presentations. For any such release or promotion, COMPANY shall include, at the LICENSOR’S discretion [***]. 
  

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

  
 21 

 10.3 No Partnership. Nothing in this AGREEMENT shall be construed to create any agency,
employment, partnership, joint venture or similar relationship between LICENSOR and COMPANY other than that of a licensor/licensee. Neither LICENSOR nor COMPANY shall have any right or authority whatsoever to incur any liability or obligation
(express or implied) or otherwise act in any manner in the name or on the behalf of the other, or to make any promise, warranty or representation binding on the other. 

10.4 Notice of Claim. Each, LICENSOR and COMPANY, shall give the other or its representative immediate notice of any suit or action
filed, or prompt notice of any claim made, against them arising out of the performance of this AGREEMENT or arising out of the practice of the inventions licensed hereunder. 

10.5 Insurance. Prior to initial human testing or FIRST COMMERCIAL SALE of any LICENSED PRODUCT(S) or LICENSED SERVICES as the case may
be and thereafter until [***], COMPANY and SUBLICENSEES shall establish and maintain insurance coverage in such country in the minimum amount of [***], to cover any liability arising from COMPANY’S indemnification obligations under Article 7
above with respect to such human testing or commercial sale of LICENSED PRODUCT(S) or LICENSED SERVICE, and prior to the expiration of such period shall obtain tail coverage for the same limits. Prior to initial human testing or FIRST COMMERCIAL
SALE of any LICENSED PRODUCT(S) as the case may be and thereafter until [***], COMPANY and SUBLICENSEES shall establish and maintain, in each country in which COMPANY, an AFFILIATED COMPANY or SUBLICENSEE(S) shall test or sell LICENSED PRODUCT(S),
product liability or other appropriate insurance coverage in the minimum amount of [***], and prior to the expiration of such period shall obtain tail coverage for the same limits. COMPANY will annually present evidence, in the form of a statement
in the annual report to LICENSOR that such coverage is being maintained. Upon LICENSOR’S request, COMPANY will furnish LICENSOR with a Certificate of Insurance of each insurance policy obtained. LICENSOR and ALSAC shall be listed as additional
insureds in COMPANY’s, AFFILIATED COMPANIES’ and SUBLICENSEES’ said insurance policies. If such insurance is underwritten on a ‘claims made’ basis, COMPANY agrees that any change in underwriters during the term of this
AGREEMENT and thereafter so long as LICENSED PRODUCTS are being sold will require the purchase of ‘prior acts’ coverage to ensure that coverage will be continuous throughout the Term of this AGREEMENT and thereafter until [***] following
expiration dating of the last batch of LICENSED PRODUCT manufactured. All such insurance shall be primary and non-contributory. All such insurers shall have a minimum financial rating by A.M Best of [***]. 

10.6 Governing Law and Venue. Any legal action arising from this AGREEMENT shall be brought in Memphis, Tennessee and shall be governed
by the law of the State of Tennessee, without regard to the conflicts of laws provisions thereof. 
  

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

  
 22 

 10.7 Notice. All notices or communication required or permitted to be given by either
PARTY hereunder shall be deemed sufficiently given if mailed by registered mail or certified mail, return receipt requested, or sent by overnight courier, such as Federal Express, to the other PARTY at its respective address set forth below or to
such other address as one PARTY shall give notice of to the others from time to time hereunder or if sent by facsimile to the other PARTY at its respective facsimile number provided below and receipt is acknowledged. Mailed notices shall be deemed
to be received on the third business day following the date of mailing. Notices sent by overnight courier shall be deemed received the following business day. 
  

			
	If to COMPANY:	  	Chief Executive Officer
		  	Juno Therapeutics, Inc.
		  	8725 W. Higgins Road, Suite 290
		  	Chicago, IL 60631
		
	If to ST. JUDE:	  	Director, Office of Technology Licensing
		  	St. Jude Children’s Research Hospital
		  	262 Danny Thomas Place, Mail Stop 742
		  	Memphis, Tennessee
		  	Phone: (901) 595-2342
		  	Fax: (901) 595-3148

 10.8 Compliance with All Laws. In all activities undertaken pursuant to this AGREEMENT, LICENSOR and
COMPANY covenant and agree that each will in all material respects comply with such Federal, state and local laws and statutes, as may be in effect at the time of performance and all valid rules, regulations and orders thereof regulating such
activities. 
 10.9 Successors and Assigns. Neither this AGREEMENT nor any of the rights or obligations created herein, except for
the right to receive any remuneration hereunder, may be assigned by either PARTY, in whole or in part, without the prior written consent of the other PARTY, except that either PARTY shall be free to assign this AGREEMENT without the consent of the
other party (i) to any AFFILIATED COMPANY at least having an ability comparable to COMPANY in performing under this AGREEMENT, or (ii) in the case of the COMPANY, in connection with any sale of substantially all of its assets of COMPANY
relating to this AGREEMENT, but in each case, shall provide written notice of such assignment and assumption along with an executed copy thereof or of the written notice of a change of control, as the case may be, within thirty (30) days of its
occurrence. This AGREEMENT shall bind and inure to the benefit of the successors and permitted assigns of the PARTIES hereto. 
 10.10 No
Waivers; Severability. No waiver of any breach of this AGREEMENT shall constitute a waiver of any other breach of the same or other provision of this AGREEMENT, and no waiver shall be effective unless made in writing. Any provision hereof
prohibited by or unenforceable under any applicable law of any jurisdiction shall as to such jurisdiction be deemed ineffective and deleted herefrom without affecting any other provision of this AGREEMENT. It is the desire of the PARTIES hereto that
this AGREEMENT be enforced to 

  
 23 

 
the maximum extent permitted by law, and should any provision contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal and unenforceable, the
PARTIES shall negotiate in good faith for a substitute term or provision which carries out the original intent of the PARTIES. 
 10.11
Entire Agreement; Amendment. COMPANY and LICENSOR acknowledge that they have read this entire AGREEMENT and that this AGREEMENT, including the attached Exhibits constitutes the entire understanding and contract between the PARTIES hereto and
supersedes any and all prior or contemporaneous oral or written communications with respect to the subject matter hereof. It is expressly understood and agreed that (i) there being no expectations to the contrary between the PARTIES hereto, no
usage of trade, verbal agreement or another regular practice or method dealing within any industry or between the PARTIES hereto shall be used to modify, interpret, supplement or alter in any manner the express terms of this AGREEMENT; and
(ii) this AGREEMENT shall not be modified, amended or in any way altered except by an instrument in writing signed by both of the PARTIES hereto. 

10.12 Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to
any PARTY hereto, shall impair any such right, power or remedy to such PARTY nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or waiver or acquiescence in any similar breach or default, or be deemed
a waiver or acquiescence of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any PARTY of any breach or default under this AGREEMENT, or any waiver on
the part of any PARTY of any provisions or conditions of this AGREEMENT, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies either under this AGREEMENT or by law or otherwise afforded to
any PARTY, shall be cumulative and not alternative. 
 10.13 Force Majeure. If a PARTY fails to fulfill its obligations hereunder
(other than an obligation for the payment of money), when such failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil commotion, riot, war (declared and undeclared),
revolution, epidemics, terrorism, earthquake or embargoes, then said failure shall be excused for the duration of such event and for such a time thereafter as is reasonable to enable the parties to resume performance under this AGREEMENT, provided
however, that in no event shall such time extend for a period of more than one hundred eighty (180) days. 
 10.14 Further
Assurances. Each PARTY shall, at any time, and from time to time, prior to or after the EFFECTIVE DATE of this AGREEMENT, at reasonable request of the other PARTY, execute and deliver to the other such instruments and documents and shall take
such actions as may be required to more effectively carry out the terms of this AGREEMENT. 
 10.15 Survival. The provisions of
Paragraphs 3.2 – 3.8 (with respect to fees and other amounts accruing prior to termination, and in connection with sales after termination pursuant to 

  
 24 

 
Paragraphs 9.5 and 9.6, shall survive expiration or termination of the AGREEMENT. All representations, warranties, covenants and agreements made herein and which by their express terms or by
implication are to be performed after the expiration and/or termination hereof, or are prospective in nature, shall survive such expiration and/or termination, as the case may be. This shall include Paragraphs 5.1 (Reports), 5.2 (Records), and
Articles 7, 8, and 10. 
 10.16 No Third Party Beneficiaries. Nothing in this AGREEMENT shall be construed as giving any person,
firm, corporation or other entity, other than the PARTIES hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this AGREEMENT or any provision hereof. 

10.17 Headings. Article headings are for convenient reference and not a part of this AGREEMENT. All Exhibits are incorporated herein by
this reference. 
 10.18 Counterparts. This AGREEMENT may be executed in counterparts, each of which shall be deemed an original and
all of which when taken together shall be deemed but one instrument. 

  
 25 

 IN WITNESS WHEREOF, this AGREEMENT shall take effect as of the EFFECTIVE DATE when it has been
executed below by the duly authorized representatives of the parties. 
  

									
	JUNO THERAPEUTICS, INC.	 		 	ST. JUDE CHILDREN’S RESEARCH HOSPITAL, INC.
			
	 /s/ Hans Bishop
	 		 	 /s/ William E. Evans

	Name:	 	Hans Bishop	 		 	Name:	 	William E. Evans
	Title:	 	CEO	 		 	Title:	 	Director and CEO
			
	 Dec 3rd, 2013
	 		 	 Dec 3, 2013

	(Date)	 		 	(Date)

 EXHIBIT A. PATENT RIGHTS LIST 

EXHIBIT B. LICENSE FEE & ROYALITIES 
 EXHIBIT C.
DEVELOPMENTAL MILESTONES & MILESTONE PAYMENTS 
 EXHIBIT D: SALES & ROYALTY REPORT FORM 

EXHIBIT E: MATERIAL TRANSFER AGREEMENT – BASIC RESEARCH 

EXHIBIT F; MATERIAL TRANSFER AGREEMENT – CLINICAL RESEARCH 

  
 26 

 EXHIBIT A 

PATENT RIGHTS LIST 
 U.S. Patent
No. 8,399,645, titled “Chimeric Receptors with 4-1BB Stimulatory Signaling Domain” 
 [***] 

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

  
 27 

 EXHIBIT B 

LICENSE FEE & ROYALTIES 
 1.
License Fee: The license fee due under Paragraph 3.1 within [***] of the EFFECTIVE DATE is twenty-five million U.S. dollars ($25,000,000). 
 2.
Minimum Annual Royalties: The minimum annual royalties pursuant to Paragraph 3.2 are: 
  

			
	1st year - January 1, 2015:	  	One hundred thousand U.S. dollars ($100,000)
	2nd year - January 1, 2016:	  	One hundred thousand U.S. dollars ($100,000)
	January 1 of every year thereafter during the term of the Agreement:	  	Five hundred thousand U.S. dollars ($500,000)

 3. Royalties: The running royalty rate payable under Paragraph 3.3 is [***] percent ([***]%) of NET SALES. [***]. If a
LICENSED PRODUCT OR LICENSED SERVICE is covered by more than one patent or patent application within the PATENT RIGHTS, [***]. 
 4. SUBLICENSE
CONSIDERATION: The SUBLICENSE CONSIDERATION payable under Paragraph 3.4 is as follows: 
 LICENSOR shall receive [***] of SUBLICENSE
CONSIDERATION. 
  
 [***] Certain information in this document has been omitted and
filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 28 

 EXHIBIT C 

[***] 
  

[***] Two pages of this document have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

  
 29 

 EXHIBIT D 

[***] 
  

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

  
 30 

 EXHIBIT E 

[***] 
  

[***] Three pages of this document have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

  
 31 

 EXHIBIT F 

[***] 
  

[***] Three pages of this document have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

  
 32Exclusive License Agreement, Seattle Children's Hospital

 Exhibit 10.12A 

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

EXCLUSIVE LICENSE AGREEMENT 
 This
Exclusive License Agreement (this “Agreement”) is made this 13th day of February, 2014 (“Effective Date”) between Seattle Children’s Hospital d/b/a Seattle Children’s Research Institute, a
Washington non-profit corporation having an address at 4800 Sand Point Way NE, Seattle, WA 98105 (“Licensor”) and Juno Therapeutics, Inc., a Delaware corporation having an address at 8725 W. Higgins Road, Suite 290, Chicago, IL
60631 (“Licensee”). Licensor and Licensee are each individually referred to as a “Party” and collectively as the “Parties”. 

BACKGROUND 
 The inventions claimed in the
Licensed Patents (“Inventions”) were made in the course of research by Dr. Michael C. Jensen and others (“Inventors”); 

Inventors are employees of Children’s University Medical Group and have assigned all of their rights, title and interests in the Licensed Patents to
Licensor; 
 Licensor, a nonprofit corporation exempt from federal income taxation and operated for charitable. scientific and educational purposes, is
desirous that the Inventions be developed and utilized to the fullest possible extent and has determined that this Agreement is in furtherance of its mission; 

Licensee desires to obtain. and Licensor is willing to grant to Licensee, under the Licensed Patents, a license for the purposes of research, development and
commercialization of Licensed Products and related activities in the Field, all on the terms set forth below. 
 Pursuant to that certain Sponsored Research
Agreement entered by the Parties of even date herewith, Licensor has granted to Licensee options to obtain licenses to certain Biological Materials, Improvements and Other Inventions developed under that SRA for the purposes of research, development
and commercialization of Licensed Products and related activities in the Field. 
 In consideration of the foregoing premises and the mutual covenants and
promises contained in this Agreement, the Parties agree as follows: 
 AGREEMENT 

ARTICLE 1. DEFINITIONS 
 The terms. as
defined below, shall have the same meanings in both their singular and plural forms. 
  

	1.1	 “Affiliate” means any corporation or other entity controlled by, controlling, or under common control with another entity, with
“control” meaning direct or indirect beneficial 

  
 1 

 EXECUTIVE VERSION 
  

	 	
ownership of fifty percent (50%) or more of the voting securities of such corporation or other entity. An entity shall be considered an “Affiliate” only for so long as such control
exists. 

  

	1.2	“Combination Product” means a Licensed Product sold in combination (i.e., for a single price) with one or more active ingredients or Active Components that contribute to the therapeutic function of the
Licensed Product, where such active ingredients or Active Components are not themselves Licensed Products, and where such other active ingredients or Active Components could reasonably be deemed to be separate therapeutic product(s). For clarity, an
Active Component includes, without limitation, a medical device used for preparing to administer and/or administering the live components of a Licensed Product but shall not include single-use disposable components for use with such a medical
device. 

  

	1.3	“Commencement” means with regard to a clinical trial, the date the first subject is dosed in such -trial. 

  

	1.4	“Commercially Reasonable Efforts” means continuous and diligent efforts of a degree and kind which are consistent with biotechnology industry custom and practice in the exercise of good scientific and
business judgment, as applicable to products in the then current stage of product development and life cycle, including commitments of funding, personnel and technology. 

 

	1.5	“Completion” means with respect to a clinical trial means the date the database for such trial is locked. 

  

	1.6	“Controlled” means with respect to intellectual property, possession by a Party of the authority to grant a right.. license or sublicense without violating the terms of any written agreement with a
third party. 

  

	1.7	“Field” means all therapeutic, prophylactic and diagnostic uses. 

  

	1.8	“Improvement(s)” means Licensor’s interest in patent rights in any invention(s) or discovery(ies) that meet all of the following conditions: (a) are first conceived or reduced to practice in
the performance of the Research under the SRA; (b) [***]; (c) are directed to the specific subject matter disclosed in one or more of the patents and/or patent applications within the Licensed Patents; and (d) are reasonably necessary
or useful to develop, make and/or commercialize one or more Licensed Products. 

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

 
 2 

 EXECUTIVE VERSION 
  

	1.9	“Indication” means a specific disease. 

  

	1.10	“Licensed Biological Materials” means any biological material that is licensed to Licensee pursuant to Section 2.2 herein. 

 

	1.11	“Licensed Patent(s)” means Licensor’s rights in (a) the patent applications listed on Exhibit A; (b) any patent application or patent that claims any Improvement to which Licensee
has exercised its option and acquired a license thereto pursuant to the SRA; (c) any other patent or patent application that claims priority to, or common priority with, or is a divisional, continuation, reissue, renewal, reexamination,
substitution or extension of any patent or patent application identified on Exhibit A; (d) any patents subsequently issuing on any patent application identified in clause (a), (b) or (c) of this definition, including any
reissues, renewals, reexaminations, substitutions or extensions thereof; (d) any claim of a continuation-in-part application or patent (including any reissues, renewals, reexaminations, substitutions or extensions thereof) that is contained
within the subject matter of at least one of the patents or patent applications identified in clause (a), (b) or (c) of this definition; (e) any foreign counterpart (including filings pursuant to the Patent Cooperation Treaty) of any
patent or patent application identified in clause (a), (b), (c) or (d) of this definition; and (f) any supplementary protection certificates, pediatric exclusivity periods, any other patent term extensions and exclusivity periods and
the like of any patents and patent applications identified in clauses (a) through (e) of this definition. 

  

	1.12	“Licensed Product” means any product (a) the manufacture, use, sale, offer for sale, importation or other disposition of which would constitute, but for the license granted to Licensee under this
Agreement, an infringement, an inducement to infringe or contributory infringement, of at least one Valid Claim (assuming for pending claims that such claims had issued) in the country of use, sale or manufacture, or (b) that is produced with,
contains, incorporates or uses (other than incidentally) any Licensed Biological Materials. 

  

	1.13	“Licensed Service” means any service (a) performed for or on behalf of a third party on a fee-for-service basis, the performance of which would constitute, but for the license granted to Licensee
under this Agreement, an infringement, an inducement to infringe or contributory infringement, of at least one Valid Claim (assuming for pending claims that such claims had issued) where the service is performed (in whole or part); or (b) which
uses (other than incidentally), contains or incorporates any Licensed Biological Material. 

  
 3 

 EXECUTIVE VERSION 
  

	1.14	“Major Country” means [***]. 

  

	1.15	“Net Sales” means the gross revenues received by Licensee, its Affiliate, or Sublicensees from or on account of a sale or other disposition of Licensed Products or the performance of Licensed Services,
less (a) customary trade, quantity or cash discounts to the extent actually allowed and taken; (b) amounts repaid or credited by reason of rejection or return; (c) to the extent separately stated on purchase orders, invoices, or other
documents of sale, any taxes or other governmental charges levied directly on the production, sale, transportation, delivery, or use of a Licensed Product or performance of a Licensed Service, which is paid by or on behalf of Licensee, its
Affiliates or a Sublicensee; and (d) to the extent separately stated on purchase orders, invoices or other documents of sale outbound transportation costs prepaid or allowed and costs of insurance in transit. No deductions shall be made for
[***]. Net Sales shall occur on the date of billing for a Licensed Product or Licensed Service. Reasonable and customary quantities of samples of Licensed Products or related performance of Licensed Services by Licensee, its Affiliates or
Sublicensees at cost or less for marketing, charitable care or clinical trials shall not be included in any calculation of Net Sales. Any Licensed Product sold or otherwise disposed or Licensed Service performed for other property (e.g., barter) or
other than in an arm’s length transaction shall be deemed invoiced at fair market value. In the case of Combination Products, Net Sales shall mean the gross amount invoiced by the Licensee, its Affiliates or Sublicensees for Combination
Products, less the deductions set forth above in this definition, multiplied by a proration factor that is determined as follows: if all active ingredients or Active Components of the Combination Product were sold separately during the same or
immediately preceding Reporting Period, the proration factor shall be determined by the formula [***]. 

 If all active
ingredients or Active Components of the Combination Product were not sold separately during the same or immediately preceding Reporting Period, then Net Sales shall mean the gross amount invoiced by the Licensee, its Affiliates or Sublicensees for
Combination Products, and less [***] of the active ingredients or Active Components that are not Licensed Products, [***]. 

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

 
 4 

 EXECUTIVE VERSION 
  

	1.16	“Other Consideration” means consideration of any kind received by Licensee or its Affiliates from a third party in connection with the grant of an option for future rights, a license or other rights or
immunities under or to any claim (whether pending or issued) of any Licensed Patent or for rights to future revenue attributable to any Licensed Patent (e.g., such as upfront fees and milestone payments including success payments for research and
development relating to the Licensed Products); provided, however, Other Consideration does not include consideration of any kind received for (i) equity (at fair market value) of Licensee; (ii) amounts loaned to Licensee or any of its
[***]. Further, Other Consideration does not include any amounts received by Licensee or any of its Affiliates as bona fide running royalties on Net Sales of Licensed Products or Licensed Services or payments for sales of units of Licensed Product
(which sales are accounted for as Net Sales and subject to royalty payments to Licensor) or the performance of any Licensed Services. To the extent that rights other than the Licensed Patents are sublicensed together with the Licensed Patents, the
Other Consideration allocated to the Licensed Patents shall be fairly determined by Licensee in good faith taking into account the relative value of the Licensed Patents and such other rights, and Licensee shall disclose in writing its calculation
and methodology to Licensor. 

  

	1.17	“Phase I Clinical Trial” means the first trial conducted pursuant to 21 C.F.R.§ 312.21(a) or its foreign counterpart that provides for the first introduction into humans of a pharmaceutical
product for the purpose of determining human toxicity, metabolism, absorption, elimination or other pharmacological action aimed to support ultimate obtaining of regulatory approval for such pharmaceutical product, or to obtain label expansion of
such pharmaceutical product. 

  

	1.18	“Phase II Clinical Trial” means the first trial conducted pursuant to 21 C.F.R. § 312.21(b) or its foreign counterpart on patients that is designed to determine the effectiveness of the
pharmaceutical product by examining several factors that may include dose response, type of patient, or frequency of dosing to support regulatory approval for such pharmaceutical product or label expansion for such pharmaceutical product.

  

	1.19	“Phase III Clinical Trial” means the first trial conducted pursuant to 21 C.F.R. § 312.21(c) or its foreign counterpart on patients that is designed to establish that a pharmaceutical product
is safe and efficacious for its intended use, or to define warnings, precautions or adverse reactions that are associated with the pharmaceutical product or the dosage range to be prescribed to support regulatory approval for such pharmaceutical
product or label expansion for such pharmaceutical product. 

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

 
 5 

 EXECUTIVE VERSION 
  

	1.20	“Pivotal Clinical Trial” means a clinical trial of a Licensed Product that is, or is designed to be, the final clinical trial before filing for Regulatory Approval of the Licensed Product in a country
of the Territory. 

  

	1.21	“Regulatory Approval” means, with respect to a nation or, where applicable, a multinational jurisdiction, such approvals, licenses, registrations or authorizations that are required to be obtained from
a Regulatory Agency prior to the marketing and sale of a Licensed Product for use in the Field in such country or multinational jurisdiction (including, where applicable, pricing approvals necessary to obtain reimbursement). 

 

	1.22	“Regulatory Authority” means, with respect to any particular country or, where applicable, a multinational jurisdiction, the governmental authority, body, commission, agency or other instrumentality of
such country or multinational jurisdiction (e.g., the EMEA with respect to the European Union), with the primary responsibility for the approval of pharmaceutical products before a Licensed Product can be tested, marketed, promoted, distributed or
sold in such country or multinational jurisdiction, including such governmental bodies, if any, that have jurisdiction over the pricing of such pharmaceutical product. The term “Regulatory Agency” includes, without limitation, the FDA,
EMEA and MHW. 

  

	1.23	“Reporting Period” means each [***]. 

  

	1.24	“Sponsored Research Agreement” or “SRA” means the Sponsored Research Agreement entered into between the Parties simultaneously with the execution of this Agreement. 

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

 
 6 

 EXECUTIVE VERSION 
  

	1.25	“Sublicensee” means any entity or person to which a sublicense at any tier has been granted under any Licensed Patent under this Agreement. For clarity, a (a) third party manufacturer that
manufactures Licensed Products for resale by Licensee, its Affiliate or Sublicensee shall not be deemed a Sublicensee, provided that a royalty is being paid by Licensee for the sale of those Licensed Products pursuant to Section 3.3.1 and/or
(b) third party wholesaler or distributor who has no significant responsibility for marketing and promotion of the Licensed Product within its distribution territory or field (i.e., the third party simply functions as a reseller), and who does
not pay any consideration to Licensee, an Affiliate of Licensee or Sublicensee for such wholesale or distributor rights, shall not be deemed a Sublicensee; and the resale by such a wholesaler or distributor shall not be treated as royalty bearing
Net Sales by a Sublicensee provided that a royalty is being paid by Licensee for the initial transfer to the wholesaler or distributor pursuant to Section 3.3.1. 

 

	1.26	“Term” means the period of time beginning on the Effective Date and ending on the expiration date of the last to expire Valid Claim, unless sooner terminated in accordance with Article 5 or as otherwise
provided in this Agreement. 

  

	1.27	“Territory” means worldwide. 

  

	1.28	“Valid Claim” means a claim of (a) an issued and unexpired patent included within the Licensed Patents, unless the claim has been held unenforceable or invalid by the final, un-reversed, and
un-appealable decision of a court or other government body of competent jurisdiction, has been irretrievably abandoned or disclaimed, or has otherwise been finally admitted or determined to be invalid, unpatentable or unenforceable, whether through
reissue, reexamination, disclaimer or otherwise, (b) a pending patent application within the Licensed Patents to the extent the claim continues to be prosecuted in good faith for a period of time not to exceed [***] years from its earliest
priority filing date in the applicable country, or (c) under any supplementary protection certificates, pediatric exclusivity periods, any other patent term extensions and exclusivity periods and the like of any patents and patent applications
identified in the Licensed Patents in clauses (a) through (e). 

 ARTICLE 2. GRANTS 

 

	2.1	Patent License. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee and its Affiliates, and Licensee, on behalf of itself and its Affiliates, hereby accepts, an
exclusive (subject to Sections 2.3 and 2.4), royalty-bearing, non-transferable (except as provided in Section 13.1) license (with the right to sublicense under Section 2.5) under the Licensed Patents, in each case, solely in the Field
within the Territory and during the Term, to 

  

	 	(a)	make, have made, use, sell, offer for sale, and import Licensed Products, and 

  

	 	(b)	perform and have performed Licensed Services. 

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

 
 7 

 EXECUTIVE VERSION 
  

	2.2	Biological Materials License. Biological Materials developed under a Research Plan under the Sponsored Research Agreement shall be licensed to Licensee, as set forth in the Sponsored Research Agreement;
provided, for the avoidance of doubt, it is understood and agreed that any such license shall remain in effect until the expiration or termination of this Agreement, unless otherwise agreed in writing by the Parties. 

 

	2.3	Reservation of Rights. Licensor reserves the right to use and otherwise exploit the Licensed Patents for its internal non-commercial research, teaching, and education-related purposes, including, but not
limited to clinical activities, including the development and use of pediatric oncology products, at Licensor and its Affiliates. Licensor may also provide non-exclusive, non-transferable licenses under the Licensed Patents to other not-for-profit
entities solely for non-commercial research, teaching, non-commercial patient care, and other educationally-related purposes; provided Licensor covenants that any such license will (a) be in writing, (b) contain an express written
prohibition on the filing by the not-for-profit licensee of any patent application(s) on any invention made with the practice of the Licensed Patents that would limit any practice of any of the Licensed Patents, and (c) require that the
licensee assign to Licensor any patent application or patent filed in violation of any such prohibition. 

  

	2.4	Government Rights. Licensee understands that the Licensed Patents were developed under a funding agreement with the Government of the United States of America (“Government”) and, as a result,
that the Government has certain rights thereto. This Agreement is made subject to the Government’s rights under any such agreement and any applicable law or regulation. To the extent that there is a conflict between any such agreement,
applicable law or regulation and this Agreement, the terms of such Government agreement, applicable law or regulation shall prevail. Licensee agrees that any Licensed Products that embody Subject Inventions (as defined in subject to 35 U.S.C.
§ 204) that are used or sold in the United States must be manufactured substantially in the United States, unless a written waiver is obtained in advance from the Government. 

  
 8 

 EXECUTIVE VERSION 
  

	2.5	Sublicensing. 

  

	2.5.1	Licensee may grant sublicenses (through multiple tiers) under the Licensed Patents and under any license granted to the Licensed Biological Materials pursuant to the SRA consistent with and subordinate to the terms of
this Agreement and, in the case of Licensed Biological Materials, subject to a written material transfer agreement. Licensee shall be responsible and liable for its Affiliates’ and Sublicensees’ compliance with this Agreement, and for
promptly collecting all amounts due to Licensee from its Affiliates and Sublicensees. Licensee’s sublicenses shall not include any terms inconsistent with the terms of this Agreement, and shall include protection for Licensor in terms of
limiting Licensor’s liability, disclaiming Licensor’s warranties, protecting Licensor’s intellectual property and proprietary rights; and indemnities expressly in favor of Licensor for which Licensor shall be a third party
beneficiary, all to at least the same extent as this Agreement. In the event of a conflict between this Agreement and any sublicense, this Agreement shall control. If a Sublicensee becomes bankrupt, insolvent or is placed in the hands of a receiver
or trustee, Licensee, to the extent allowed under applicable law and in a timely manner, agrees to use reasonable commercial efforts to collect all consideration owed to Licensee and to have the sublicense agreement assumed or rejected by a court of
proper jurisdiction as soon as reasonably possible. Licensee must deliver to Licensor a true and correct copy of each sublicense granted by Licensee and any amendment or termination thereof, which, in each case, may be redacted to remove any
confidential terms not relevant to (i) payments due to Licensor under this Agreement with respect to the Licensed Patents or Licensed Biological Materials or (ii) the Sublicensee’s obligations to comply with the terms of this
Agreement, within [***] after execution, amendment or termination. 

  

	2.5.2	If this Agreement is terminated pursuant to Article 5, Licensor agrees that each agreement with an existing Sublicensee in good standing at the date of termination shall remain in full force and effect and that the
obligations of such Sublicensee to Licensor shall be those set forth in this Agreement, provided, in each case, that such Sublicensee consents in writing to be bound by all of the terms and conditions of this Agreement, as further limited by its
applicable sublicense agreement, if at the time of such termination the Sublicensee(s) shall be responsible for curing that breach. 

  

	2.6	Option to Improvement(s). The Parties acknowledge that Licensor has granted to Licensee an option to acquire a license to Improvement(s), as set forth in the Sponsored Research Agreement, and if Licensee
acquires license rights to any such Improvement(s), such licenses shall be shall be subject to the terms of this Agreement, unless otherwise agreed in writing by the Parties. 

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

 
 9 

 EXECUTIVE VERSION 
  

 ARTICLE 3. CONSIDERATION 

 

	3.1	License Fee. 

  

	3.1.1	License Fee. Within [***] following the Effective Date of this Agreement, Licensee shall pay Licensor a one-time, non-refundable, non-recoupable upfront licensing fee of two hundred thousand dollars
($200,000). 

  

	3.1.2	License Maintenance Fees. Licensee shall pay to Licensor non-refundable annual license maintenance fees in the total amount of two hundred fifty thousand dollars ($250,000) in five equal installments of
fifty thousand dollars ($50,000) each on the first, second, third, fourth and fifth anniversaries of the Effective Date. License maintenance fees paid under this Section 3.2 for any annual period shall be creditable against royalties due on Net
Sales under Section 3.3.1 and milestone payments payable to Licensor under Section 3.4, in each case, accruing in that same annual period for which the annual license maintenance fee is paid. 

 

	3.2	Development Milestone Payments. Licensee shall pay Licensor milestone payments in the amounts set forth below in this Section 3.2, whether the milestone is met by Licensee, its Affiliates or
Sublicensees, payable according to the following schedule for the development milestone payment for each particular Licensed Product (i.e., distinct biological entity) for a total of no more than (a) nine million dollars (US$9,000,000) for any
Licensed Product that is covered by any Valid Claim of a patent or patent application within the Licensed Patents that is not co-owned by Licensor and Fred Hutchinson Cancer Research Center (“FHCRC”), or (b) [***] for
any Licensed Product that is covered only by a Valid Claim of a patent or patent application that is co-owned by Licensor and FHCRC but not any Valid Claim of any other patent application or patent within the Licensed Patents (“Development
Milestones Fee Cap”) per Licensed Product, regardless of [***]: 

  

	 	(a)	[***] dollars ($[***]) on [***] for each Licensed Product [***]. For clarity, for a single Licensed Product, this milestone shall be paid [***] or may be paid separately for different Licensed Products (i.e., distinct
biologic entities) for each such [***]. 

  

	 	(b)	[***] dollars ($[***]) on [***] for each Licensed Product [***]. For clarity, for a single Licensed Product, this milestone shall be paid [***] or for different Licensed Products (i.e., distinct biologic entities) but
no more than a total of [***] payments shall be made for each Licensed Product under this milestone (i.e., [***] payments of [***]). 

  
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 EXECUTIVE VERSION 
  

	 	(c)	[***] dollars ($[***]) on [***] in each of the first [***] separately approvable Indications for each Licensed Product in [***]. For clarity, this milestone shall be paid for (i) [***] a single Licensed Product, or
(ii) for different Licensed Products [***] but in no event shall more than a total of [***] dollars($[***]) be payable to Licensor for achievement of this milestone regardless of the number of times it is achieved. 

 

	 	(d)	[***] dollars ($[***]) on [***]. 

  

	 	(e)	Subject to the applicable Development Milestones Fee Cap, for each Licensed Product, a payment of [***] dollars ($[***]) on [***]. 

  

	 	(f)	Subject to the applicable Development Milestones Fee Cap, for each Licensed Product, a payment of [***] dollars ($[***]) on [***]. 

  

	 	(g)	Subject to the applicable Development Milestones Fee Cap, for each Licensed Product, a payment of [***] dollars ($[***]) on [***]. 

  

	 	(h)	A payment of [***] dollars ($[***]) on the first achievement of [***]. 

 If any milestone
described in this Section 3.2 is not required for Regulatory Approval of a Licensed Product in the U.S. or a Major Country, then the milestone payment for such unrequired milestone shall become immediately due and payable to Licensor on [***].

 The milestone payment in Section 3.2(h) shall not be creditable against any other payment due to Licensor. 

 

	3.3	Royalties. 

  

	3.3.1	Royalty Rates. Subject to the terms of this Section 3.3, Licensee shall pay to Licensor a royalty on Net Sales of Licensed Products and Licensed Services as follows: 

 

					
	 Annual Net Sales (USD)
	  	Royalty Rate	 
	 Up to [***]
	  	 	[***	]% 
	 In excess of [***]
	  	 	[***	]% 

 No multiple royalties shall be payable to Licensor because a Licensed Product or Licensed Service is covered by
more than one claim in any Licensed Patent. 

  
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	3.3.2	Royalty Stacking. If Licensee or its Affiliate is obligated to pay a royalty to an unaffiliated third party for a license to a patent or other intellectual property or technology that would be infringed or
otherwise violated or unauthorized by the use, manufacture, offer for sale, sale or import of a Licensed Product or the performance of Licensed Services under this Agreement in a particular country absent a license from that third party
(“Necessary License”), then, if Licensee obtains a Necessary License from that third party, Licensee shall be entitled to offset [***] percent ([***]%) of any running royalties it actually pays to that third party for such Necessary
License in any Reporting Period against the royalties due to Licensor; provided, however, notwithstanding the application of offsets under this Section 3.3.2, the annual royalties paid to Licensor under Section 3.3.1 shall not be reduced
below [***] percent ([***]%) of the royalties otherwise owed Licensor as set forth in Section 3.3.1 for that period before taking into account any reductions, unless the aggregate running patent royalty obligation on the Net Sales of a
particular Licensed Product payable by Licensee for Necessary Licenses exceeds [***]. If the aggregate third party running royalty payment obligation for Necessary Licenses exceeds [***], then the royalties payable to Licensor under
Section 3.3.1 shall not be reduced to less than [***]% of Net Sales for any Reporting Period. Any offset under this Section 3.3.2 not used in a calendar year may be carried over [***] subsequent years. Upon request, Licensee shall furnish
documentation to Licensor evidencing its payments and payment obligations to third parties under this Section 3.3.2, including the identity of those patents or other intellectual property rights for which such payments are paid to a third
party. 

  

	3.3.3	Co-Owned Claims. If the only Valid Claims covering a particular Licensed Product or Licensed Service are co-owned by Licensor and Fred Hutchinson Cancer Center, then the running royalty due on Net Sales of
such Licensed Products or performance of Licensed Services under Section 3.3.1 for any Reporting Period shall be reduced by the aggregate amount of running royalties actually paid by Licensee to that co-owner for a license to that
co-owner’s Valid Claims for such Reporting Period; provided, however the royalty payments to Licensor under Section 3.3.1 shall not be reduced by more than [***] percent ([***]%) of the amount otherwise due and payable to Licensor
under Section 3.3.1 before taking into account any reductions. Any payments made by Licensee to Fred Hutchinson Cancer Center (FHCRC) with regard to any Licensed Patents co-owned by Licensor and Fred Hutchinson Cancer Center (FHCRC) may not be
offset pursuant to Section 3.3.2. 

  

	3.3.4	 Minimum Annual Royalties. Commencing on the on sixth anniversary of the Effective Date, and thereafter on each anniversary of the
Effective Date during the term of this Agreement, Licensee shall pay to Licensor a nonrefundable minimum annual royalty of two hundred thousand dollars ($200,000) per year. The annual minimum royalties shall not be reduced under this
Section 3.3 but shall be fully creditable against running 

  
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royalties on Net Sales under Section 3.3.1 or milestone payments under Section 3.2(a) through (g), in each case, accruing for that same annual period beginning on the anniversary of the
Effective Date for which the annual minimum royalty was last paid. 

  

	3.3.5	Term and Termination of Royalty Obligations. The royalties provided in Section 3.3.1 shall commence for each Licensed Product or Licensed Service on the first commercial sale of that Licensed Product
or Licensed Service in any country and shall terminate with respect to such Licensed Product or Licensed Service on a country-by-country basis on the expiration of the last-to-expire Valid Claim in that country. 

 

	3.4	Patent Costs. Licensee shall reimburse Licensor for [***], which are estimated to be [***] dollars ($[***]), within [***] following the Effective Date. Licensee shall reimburse Licensor for [***] incurred
during the Term pursuant to Section 6.1 within [***] following the date an itemized invoice is sent from Licensor to Licensee. [***]. 

  

	3.5	Other Consideration. Licensee shall pay to Licensor the nonrefundable payments as set forth in the table below; provided, however, that in no event shall payments to Licensor pursuant to this
Section 3.5 exceed, in the aggregate, fifteen million dollars ($15,000,000). 

  

			
	 Percentage of Other
Consideration
	  	 Milestone

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

 If before the second anniversary of the Effective Date, Licensee options or sublicenses to third party that is
not an Affiliate of the Licensee, substantially all of the rights granted to Licensee by Licensor under the Licensed Patents, Licensed Products or Licensed Services to all Fields in the U.S. or a Major Country, without also providing such third
party a license (or sublicense as the case may be) to any other material technology or intellectual property rights owned or Controlled by Licensee, the amount of any applicable payments to Licensor under this Section 3.5 shall be [***] for
such transaction (but only that transaction), [***]. 
 Payments to Licensor for Other Consideration shall be paid to Licensor within [***]
of receipt of that consideration by Licensee. 
  

	3.6	Diligence Efforts. 

  

	3.6.1	General. Licensee shall directly or through its Affiliates or Sublicensees use Commercially Reasonable Efforts to develop and commercialize at least (a) one Licensed Product and (b) either a
second Licensed Product or a second Indication for the first Licensed Product. 

  
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	3.6.2	Clinical Trials. Licensee shall use Commercially Reasonable Efforts to: 

  

	 	(a)	dose the first patient in a Phase I Clinical Trial of a Licensed Product within [***] from the Effective Date, 

  

	 	(b)	dose the first patient in a Phase II Clinical Trial of a Licensed Product within [***] from the Effective Date, 

  

	 	(c)	dose the first patient in a Pivotal Clinical Trial or Phase III Clinical Trial within [***] after the Effective Date, and 

  

	 	(d)	dose the first patient in a Phase I Clinical Trial of a second Licensed Product or second Indication for the first Licensed Product within [***] from the Effective Date. 

Notwithstanding the foregoing, if Licensee fails to achieve any milestone in this Section 3.6.2 where the cause of the failure is beyond
the reasonable control of Licensee, its Affiliates or Sublicensees (e.g., regulatory action or delay, low patient enrollment, force majeure), Licensee shall promptly inform Licensor of the anticipated delay as soon as reasonably known to Licensee.
and the Parties shall meet to discuss the reasons for the delay, the anticipated duration of the delay, the work to be undertaken by Licensee, its Affiliates and Sublicensees to overcome the delay, and a reasonable extension of the date for the
achievement of any affected milestones under this Section 3.6.2. In such case, Licensee will not be deemed in default or breach of this agreement and the time period for achieving those milestones will be automatically extended by the time of
the delay reasonably attributable to the causes outside of Licensee’s control, as long as Licensee diligently and continuously pursues the achievement of such milestones. Licensor shall not be entitled to more than [***] extensions under this
paragraph. 
 If Licensee fails to reach any milestone in this Section 3.6.2 for any reason not subject to the preceding paragraph, then
Licensee may extend that milestone for a period of [***] (“Delayed Milestone”). In order to be entitled to that extension, Licensee shall, within thirty (30) days after the applicable deadline for the achievement of the
applicable milestone (i) pay to Licensor [***]% of the milestone payment that would otherwise have been due had Licensee timely achieved the applicable milestone and (ii) [***]. If Licensee fails to reach any Delayed Milestone, then
Licensee may extend that Delayed Milestone for a period of [***]. In order to be entitled to the second extension, Licensee shall, within [***] after the deadline for the achievement of the Delayed Milestone (x)

  
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 EXECUTIVE VERSION 
  

 
pay to Licensor [***]% of the milestone payment that would otherwise have been due had Licensee timely achieved the Delayed Milestone and (y) [***]. Any payments under this
Section 3.6.2 shall be in addition to the milestone payments otherwise due under this Agreement and shall not reduce any amounts that may become due. 
  

	3.6.3	Sponsored Research. Unless the SRA is terminated by its terms (a) by Licensor, or (b) by Licensee for uncured breach thereof, Licensor shall fund research and development activities at Licensor
under the supervision of Dr. Michael C. Jensen in accordance with an agreed Research Plan, pursuant to the SRA. For clarity, no breach of the SRA shall be a grounds for an alleged breach of this Agreement, but a Party injured for a breach of
the SRA may seek remedies under such Agreement for such breach. 

  

	3.6.4	Breach. Any breach of any of Licensee’s obligations under this Article 3 shall be considered a material breach of this Agreement. 

ARTICLE 4. REPORTS, RECORDS AND PAYMENT 
  

	4.1	Reports. 

  

	4.1.1	Progress Reports. Beginning [***], Licensee shall report to Licensor in writing the progress made by Licensee, its Affiliates and Sublicensees in the research, development and commercialization of Licensed
Products for the preceding [***], including its efforts to obtain regulatory approvals necessary for testing and marketing Licensed Products. Such annual reports shall be due within [***] after the end of [***] and shall include a detailed summary
of work completed and results obtained, summary of work in progress, current schedule of anticipated events or milestones, summary of sublicenses granted during the period. market plans for introduction of Licensed Products, summary of resources
(dollar value and FTE) spent in the reporting period, regulatory plans and other information reasonably requested by Licensor. Upon request, Licensee shall meet with Licensor once every [***] to discuss its [***] reports and answer Licensor’s
questions regarding development and commercialization efforts for the Licensed Products. 

  

	4.1.2	 Royalty Reports. Licensee shall submit to Licensor [***] royalty reports within [***] after the end of each Reporting Period. Each
royalty report shall cover Licensee’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar quarter and shall show: [***]. If no sales of Licensed Products

  
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 EXECUTIVE VERSION 
  

	 	
have been made by Licensee during any reporting period, Licensee shall so report. In addition, Licensee shall submit to Licensor [***] royalty reports within [***] after the end of each Reporting
Period showing Other Consideration. Each such report shall cover Licensee’s (and each Affiliate’s) most recently completed calendar quarter and shall show (i) the source, type, amount and calculation of Other Consideration and
(ii) such other information relating thereto as reasonably requested by Licensor. 

  

	4.2	Records & Audits. Licensee shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Net Sales and Licensed Products manufactured, used, sold or
imported and Licensed Services performed under this Agreement and with respect to Other Consideration. Such records shall be retained by Licensee, its Affiliates and Sublicensees for at least [***] following a given reporting period. All records of
Licensee (which shall be and remain Confidential Information of Licensee) shall be available during normal business hours for inspection, at the expense of Licensor, by Licensor’s Internal Audit Department or by an independent certified public
accountant selected by Licensor for the sole purpose of verifying reports and payments or other compliance issues. If any such inspection shows an underpayment in excess of [***] percent ([***]%) for any twelve-month (12-month) period, then Licensee
shall pay the cost of the audit. In the event of any underpayment, Licensee shall pay an: additional sum that would have been payable to Licensor had the Licensee reported correctly, plus an interest charge at the rate set forth in
Section 4.3.3. Such interest shall be calculated from the date the correct payment was due to Licensor up to the date when such payment is actually made by Licensee. 

 

	4.3	Payments. 

  

	4.3.1	Fees. All fees reimbursements, royalties and other amounts due Licensor shall be paid in United States dollars and all checks shall be made payable to “Seattle Children’s Hospital d/b/a Seattle
Children’s Research Institute,” referencing Licensor’s taxpayer identification number, 91-0564748, and sent to Licensor according to Section 13.4. When Licensed Products or Licensed Services are sold in currencies other than
United States dollars, Licensee shall first determine the earned royalty in the currency of the country in which Licensed Products or Licensed Services were sold and then convert the amount into equivalent United States funds, using the exchange
rate quoted in the Wall Street Journal on the last business day of the applicable reporting period. 

  

	4.3.2	 Royalty Payments. Royalties shall accrue when Licensed Products or Licensed Services are invoiced, or if not invoiced, when delivered to
a third party or Affiliate. Licensee shall pay earned royalties [***] within [***] of the end of each Reporting 

  
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 EXECUTIVE VERSION 
  

	 	
Period. Each such payment shall be for earned royalties accrued within Licensee’s most recently completed Reporting Period. Licensee shall pay all bank charges resulting from the transfer of
payments. If at any time legal restrictions prevent the prompt remittance of part or all royalties by Licensee with respect to any country where a Licensed Product or Licensed Service is sold or a pursuant to this Agreement, Licensee shall convert
the amount owed to Licensor into U.S. dollars and shall pay Licensor directly from its US sources of fund for as long as the legal restrictions apply. Royalty payments under Section 3.3, and royalty reports under Section 4.1 shall be
rendered for any and all Net Sales of Licensed Products and Licensed Services made during the term of the Agreement even if the corresponding royalty payments are due after expiration of the Agreement. 

 

	4.3.3	Late Payments. In the event royalty, reimbursement or other payments are not received by Licensor when due, Licensee shall pay to Licensor interest charges at a rate equal to the [***] of (a) [***]
percent ([***]%) per year, (b) the prime rate of interest plus [***] percent ([***]%) per year or (c) the maximum rate permitted by applicable usury law. Such interest shall be calculated from the date payment was due until actually
received by Licensor. 

  

	4.3.4	Withholding Taxes. Any withholding or other tax that is required by law to be withheld with respect to payments owed by Licensee pursuant to this Agreement shall be deducted by Licensee (or its
Sublicensees) from such payment prior to remittance, and paid over to the relevant taxing authorities when due. Licensee shall promptly furnish Licensor evidence of any such taxes withheld and of payment thereof and shall cooperate with Licensor and
provide reasonable assistance necessary for Licensor to claim any withheld amounts. 

 ARTICLE 5. TERM AND TERMINATION

  

	5.1	Term of Agreement. The term of this Agreement shall commence upon the Effective Date and shall continue in full force and effect and shall terminate on the expiration or abandonment of all Valid Claims,
unless this Agreement is terminated earlier in accordance with the provisions of this Agreement. 

  

	5.2	Termination by Licensee. Licensee shall have the right to terminate this Agreement upon sixty (60) days’ written notice to Licensor. 

 

	5.3	Termination by Licensor. Licensor. at its option, may immediately terminate the Agreement, or any part of the license to the Licensed Patents, or any part of Field, or any part of Territory, or the
exclusive nature of the license grant, upon delivery of written notice to Licensee of Licensor’s decision to terminate, if any of the following occur: 

  

	 	(a)	Licensee becomes in arrears in any payments due under the Agreement, and Licensee fails to make the required payment within thirty (30) days after delivery of written notice from Licensor; 

  
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 EXECUTIVE VERSION 
  

	 	(b)	Licensee is in material breach of any non-payment provision of the Agreement, and does not cure such breach within ninety (90) days after delivery of written notice from Licensor. 

 

	 	(c)	Licensee, its Affiliate or Sublicensee initiates any proceeding or action to challenge the validity, enforceability, or scope of one or more of the Licensed Patent rights, or assists a third party in pursuing such a
proceeding or action. 

  

	5.4	Other Conditions of Termination. This Agreement shall terminate: (a) immediately without the necessity of any action being taken by Licensor or Licensee, (i) if Licensee becomes bankrupt or
insolvent, (ii) Licensee elects to liquidate its assets or dissolve its business, (iii) Licensee ceases its business operations in the ordinary course. (iv) Licensee makes an assignment for the benefit of creditors or (v) if the
business or assets of Licensee are otherwise placed in the hands of a receiver, assignee or trustee, whether by voluntary act of Licensee or otherwise; or (b) at any time by mutual written agreement between Licensee and Licensor.

  

	5.5	Effect of Termination. If the Agreement is terminated for any reason: (a) except as provided in Section 5.7, Licensee shall cease making, having made, using, selling, offering to sell, or
otherwise disposing of any and all Licensed Products and Licensed Services by the effective date of termination; and (b) Licensee shall tender payment of all accrued royalties and other payments due to Licensor as of the effective date of
termination; and (c) nothing in the Agreement shall be construed to release either Party from any obligation that matured prior to the effective date of termination. In addition, Licensee shall dispose of all Licensed Biological Materials as
directed by Licensor. 

  

	5.6	Effect on Sublicensees. All sublicenses, and rights of Affiliates and Sublicensees, will terminate as of the effective date of termination of this Agreement. except as provided in Section 2.5.2.

  

	5.7	Disposition of Licensed Products on Hand. On termination of this Agreement other than as a result of uncured breach by Licensee, Licensee may dispose of all previously made or partially made Licensed
Products within a period of [***] of the effective date of such termination; provided, that the sale of such Licensed Product by Licensee or Affiliates shall be subject to the terms of this Agreement, including rendering of reports and payment of
royalties and other amounts required under this Agreement. 

  
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 EXECUTIVE VERSION 
  

	5.8	Accrued Rights and Obligations. Any termination of this Agreement shall not relieve each Party hereto of any obligation or liability, accrued under this Agreement prior to termination. 

 

	5.9	Survival on Termination or Expiration. The following Sections and Articles shall survive the termination or expiration of this Agreement: 2.5.2, 4.2, 4.3.3, 5.6, 7.2, 8, 9 10, 11 and 13, along with
all payment obligations accrued before the effective date of expiration or termination. 

 ARTICLE 6. PATENT MATTERS

  

	6.1	Diligence Efforts. Licensor shall have all responsibility for the filing, prosecution, protection and maintenance of the Patent Rights. Licensor shall use good faith, reasonable efforts (consistent with
Licensor’s customary practices) to diligently and timely prosecute and maintain the Patent Rights in the United States, and in such other countries as are reasonably designated by Licensee, using counsel reasonably acceptable to Licensee;
provided, that Licensee timely reimburses Licensor for [***]. Licensee may suspend its obligations under this Section 6.1 if Licensee fails to timely reimburse Licensor for [***]. 

 

	6.2	Patent Documentation. Licensor shall keep Licensee reasonably informed regarding matters related to the prosecution and maintenance of each patent or patent application within the Licensed Patent and
shall, without limitation: (a) provide (or direct its external patent counsel to provide) Licensee with access to copies of all material documentation and correspondence relating to the filing, prosecution and maintenance of each of the
Licensed Patents so that Licensee may remain informed with respect thereto; and (b) give Licensee (and its Sublicensees) reasonable opportunity to consult with Licensor (or its external patent counsel) regarding such filing, prosecution,
maintenance and to comment on all relevant material matters related to prosecution of the Licensed Patents, including review of draft responses prior to filing with Patent Offices. All comments by Licensee shall be reasonably considered by
prosecuting counsel. The Parties acknowledge that all information exchanged by the Parties pursuant to this Section is understood to be Confidential Information pursuant to Article 10, without regard to any marking or legending requirements
thereof, but subject to the exceptions to confidentiality set forth therein. 

  
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 EXECUTIVE VERSION 
  

	6.3	Decision to Not Further Support. 

  

	6.3.1	At any time, Licensee shall notify Licensor if Licensee wishes to terminate its license to any of the patent applications or patents within the Licensed Patents. Licensee shall identify such patent applications and
patents to Licensor in writing, in which event, [***] after receipt of such written notice by Licensor, (a) Licensee’s license to such patent applications and patents shall terminate and such identified patent applications and patents
shall no longer be deemed Licensed Patents under this Agreement, and (b) Licensee shall have no further obligation to pay any Patent Costs incurred by Licensor for the prosecution and maintenance of such identified patents and patent
applications. For the avoidance of doubt, Licensor may independently, and at its own expense, maintain any such patent applications and patents after such a termination by Licensee, and Licensee will have no rights hereunder with respect to such
patent applications and patents. 

  

	6.3.2	Notwithstanding Section 6.3.1 above, Licensee covenants that it will not terminate its license to any patent application or patent within the Licensed Patents that is co-owned by Licensor and FHCRC and then
licensed to Licensee by each of Licensor and FHCRC, without also concurrently terminating its license from FHCRC to such patent application or patent. 

  

	6.4	Patent Term Extension. Licensee shall have the right, on a Licensed Product-by-Licensed Product basis, to select a patent within the Licensed Patents to seek a term extension for or supplementary
protection certificate under in accordance with the applicable laws of any country. Each Party agrees to execute any documents and to take any additional actions as the other Party may reasonably request in connection therewith. Licensee shall
consult with Licensor and consider its views in good faith before applying for a patent term extension or supplementary protection certificate for any Licensed Product. [***] costs incurred by Licensor in connection with its activities under this
Section 6.4 shall be Patent Costs and reimbursed by Licensee. 

  

	6.5	Patent Infringement and Litigation. 

  

	6.5.1	Infringement Notice. In the event that Licensor (to the extent of the actual knowledge of the Vice President of Research of Licensor) or Licensee learns of infringement of potential commercial significance
of any Licensed Patent licensed under this Agreement, the knowledgeable Party shall provide the other (a) with written notice of such infringement and (b) [***] (the “Infringement Notice”). During the period in which, and
in the jurisdiction where, Licensee has exclusive rights under this Agreement, neither Licensor nor Licensee shall notify a third party (including the infringer) of infringement or put such third party on notice of the existence of any Licensed
Patent without first obtaining consent of the other. 

  
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 EXECUTIVE VERSION 
  

	6.5.2	Licensee’s Right to Sue. If infringing activity of potential commercial significance by the infringer has not been abated within [***] following the date the Infringement Notice takes effect,
Licensee, [***], shall have the first right, but not the obligation, to enforce any Licensed Patent by notifying and consulting with Licensor in advance and then instituting a suit (including a suit for declaratory judgment) for patent infringement
against the infringer. Such notice to Licensor shall be given at least [***] in advance of instituting a suit. Licensor may voluntarily join such suit at its own expense and participate with its own counsel, but may not thereafter commence suit
against the infringer for the acts of infringement that are the subject of Licensee’s suit or any judgment rendered in that suit. Licensee may join Licensor in a suit initiated by Licensee with the prior consent of Licensor if Licensor would be
a necessary or indispensable party under the applicable law. If, in a suit initiated by Licensee, Licensor is voluntarily joined at the request of Licensee or involuntarily joined, Licensee shall pay [***] incurred by Licensor arising out of such
suit. 

  

	6.6	Settlement Proceeds. Any recovery or settlement received in connection with any suit initiated by Licensee under Section 6.5.2 above shall first be used to reimburse each Party’s litigation
costs. Any recovery in excess of litigation costs of Licensee and Licensor shall be shared between Licensee and Licensor as follows: for any suit initiated by Licensee, [***]; and in any suit initiated by Licensor, at its expense, in which Licensee
does not participate, [***]. 

  

	6.7	Cooperation. Each Party shall cooperate with the other in litigation proceedings instituted hereunder but at the expense of the Party who initiated the suit (unless such suit is being voluntarily jointly
prosecuted by the Parties). At request and expense of the Party bringing suit, the other Party shall permit access during regular business hours, to all relevant personnel, records, papers, information. samples, specimens, and the like in its
possession and agrees to be joined in such a suit, if required by applicable law. Licensee shall not settle any infringement action commenced by Licensee in any manner that could impose material obligations on Licensor or adversely affect Licensor
or the Licensed Patents without the prior written consent of Licensor. 

  

	6.8	Patent Marking. Licensee shall mark all Licensed Products made, used, or sold under the terms of this Agreement, or their containers, in accordance with the applicable patent marking laws. Licensee shall
be responsible for all monetary and legal liabilities arising from or caused by (a) failure to abide by applicable patent marking laws and (b) any type of incorrect or improper patent marking. 

  
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 ARTICLE 7. REPRESENTATIONS AND WARRANTEES 

 

	7.1	Limited Warranties. 

  

	7.1.1	Mutual Representation and Warranties. Each Party represents and warrants to the other Party (a) that its signatory to this Agreement is duly authorized to execute and deliver this Agreement on the
Party’s behalf. (b) that it has the corporate authority and power to enter into and to perform this Agreement, and (c) that this Agreement constitutes the valid and legally binding obligation of that Party, enforceable against it in
accordance with its terms, except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium, and other laws relating to or affecting creditor’s rights generally, and by general equitable
principles. 

  

	7.1.2	Licensor’s Representation and Warranties. Licensor represents and warrants as of the Effective Date that: 

  

	 	(a)	Licensor has not knowingly taken any action or omission to encumber any of its right, title and interest in and to the Licensed Patents in any way that would have materially adversely impacted the licenses granted to
Licensee under this Agreement except for the rights, if any, of the Government as set forth above; 

  

	 	(b)	Licensor is the sole owner or co-owner of the Patent Rights; 

  

	 	(c)	Licensor has sufficient rights in and to the Licensed Patents to grant the licenses set forth in this Agreement to Licensee except for the rights, if any, of the Government as set forth above; 

 

	 	(d)	to the actual knowledge of Licensor’s Vice President of Research, there is not pending or, threatened in writing, any claim or litigation to which Licensor is a party contesting the ownership, derivation,
inventorship, validity or right to use any of the Licensed Patents; 

  

	 	(e)	to the actual knowledge of Licensor’s Vice President of Research, Licensor has not received written notice of any third party assertion that the Licensed Patents are invalid; 

 

	 	(f)	that the execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate action on the part of Licensor; 

 

	 	(g)	it has not granted to any third party any rights in the Licensed Patents in the Field of Use in the Territory, that are inconsistent with the rights granted to Licensee under this Agreement; and 

 

	 	(h)	Exhibit A contains a complete list of all current patent applications and patents owned (in whole and in part) by Licensor as of the Effective Date relating to [***] for which Dr. Michael C. Jensen is
an inventor. 

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

 
 22 

 EXECUTIVE VERSION 
  

 Licensor hereby covenants that it will not grant during the term of this Agreement any right,
license or interest in the Licensed Patents, or any portion thereof, inconsistent with the license granted to Licensee herein. 
  

	7.2	Limitation on Warranties and Remedies. EXCEPT WITH RESPECT TO CLAIMS ARISING FROM INFRINGEMENT OR MISAPPROPRIATION OF LICENSOR’S INTELLECTUAL PROPERTY RIGHTS OR A VIOLATION BY LICENSOR OF ITS
COVENANTS IN SECTION 2.3 AND THE LAST SENTENCE OF SECTION 7.1.2, NEITHER PARTY NOR THEIR AFFILIATES NOR THEIR RESPECTIVE TRUSTEES, OFFICERS, DIRECTORS. EMPLOYEES, RESEARCHERS, PROVIDERS, STUDENTS, CONTRACTORS OR AGENTS SHALL BE LIABLE FOR ANY LOST
PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT, OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR OTHER SPECIAL DAMAGES SUFFERED BY LICENSEE, ITS
AFFILIATES, OR SUBLICENSEES ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ANY OR ALL CLAIMS OR CAUSES OF ACTION OF ANY KIND (INCLUDING TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY AND BREACH OF WARRANTY) EVEN IF A PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. LICENSOR’S AGGREGATE LIABILITY ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT SHALL NOT EXCEED [***]. LICENSOR MAKES NO WARRANTIES OTHER THAN THE WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT AND OTHERWISE
DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES OF ANY KIND, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE OR ARISING FROM COURSE OR DEALING OR PERFORMANCE. LICENSEE ACKNOWLEDGES THAT CERTAIN OF THE LICENSED
PATENTS ARE CO-OWNED. 

 Furthermore, nothing in this Agreement shall be construed as: 

 

	 	(a)	a warranty or representation by Licensor as to the validity, enforceability or scope of any Licensed Patents; 

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

 
 23 

 EXECUTIVE VERSION 
  

	 	(b)	a warranty or representation that anything made, used, sold, or otherwise disposed of under any license granted in this Agreement is or shall be free from infringement or misappropriation of patents or other
intellectual property rights of third parties; 

  

	 	(c)	an obligation to bring or prosecute actions or suits against third parties for patent infringement; 

  

	 	(d)	conferring by implication, estoppel, or otherwise any license or rights under any patents or intellectual property of Licensor other than those Licensed Patents specifically defined in this Agreement, regardless of
whether those patents are dominant or subordinate to any Licensed Patent; or 

  

	 	(e)	an obligation to furnish any know-how not included in the Licensed Patents. 

 Except for the
license granted in this Agreement, Licensor retains all right, title and interest in and to the Licensed Patents and Licensed Biological Materials. 
  

	7.3	Disclaimers. Except as specifically set forth in this Agreement, nothing in this Agreement shall be construed as (a) a warranty or representation by Licensor as to the validity or scope of any of the
Licensed Patents; or (b) a warranty or representation that the Licensed Products, Licensed Services or Licensed Biological Materials under this Agreement shall not infringe or misappropriate the patents, trade secrets, or other intellectual
property rights belonging to any third parties. 

 ARTICLE 8. INDEMNIFICATION 

 

	8.1	Indemnification Obligation. Subject to Section 8.2 and 8.4 and the limitations in Section 7.2 (as further limited by this Section 8.1), Licensee shall hold harmless, defend and indemnify Licensor and its
Affiliates and their respective trustees, directors, officers, employees, researchers, providers, students, contractors and agents (“Indemnified Parties”) from and against any and all liabilities, damages, causes of action, suits,
judgments, liens, penalties, fines, losses, costs and expenses (including, without limitation, reasonable attorneys’ fees and other expenses of litigation and investigation) (collectively “Claims”) resulting indirectly or
directly from actions, claims, causes of action, or demands brought or made by third parties against an Indemnified Party to the extent the Claim results from, or arises out of, [***]. Claims indemnified under this Section 8.1 include, without
limitation, those that result from or arise out of: 

 [***] 

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

 
 24 

 EXECUTIVE VERSION 
  

 If a Claim arises under this Section 8.1, Licensor shall take all appropriate measures
to mitigate the liability of Licensee (including by cooperating with Licensee in all mitigation efforts). 
  

	8.2	Exclusion. Licensee shall have no responsibility or obligation under Section 8.1 for any Claims to the extent caused by the gross negligence or willful misconduct by Licensor. 

 

	8.3	Indemnification Obligation. Subject to Section 8.4 and the limitations in Section 7.2 (as further limited by this Section 8.3), Licensor shall hold harmless, defend and indemnify
Licensee and its Affiliates and their respective directors, officers, and employees (“Indemnified Parties”) from and against any and all liabilities, damages, causes of action, suits, judgments, liens, penalties, fines, losses,
costs and expenses (including, without limitation, reasonable attorneys’ fees and other expenses of litigation and investigation) (collectively “Claims”) resulting from actions, claims, causes of action, or demands brought or made by
third parties against an Indemnified Party to the extent the Claim results from, or arises out of, the [***]. If a Claim arises under this Section 8.3, Licensee shall take all appropriate measures to mitigate the liability of Licensor
(including by cooperating with Licensor in all mitigation efforts). In no event shall Licensor’s aggregate liability under this Section 8.3 for any and all Claims exceed [***]. 

 

	8.4	Process. In the case of any Claim (a) the Indemnified Party shall notify the indemnifying party promptly of any Claims for which indemnification is sought, allow the indemnifying party to handle and
control the defense thereof and cooperate reasonably with the indemnifying party, at the sole expense of the indemnifying party in the defense and settlement of the Claims; and (b) the indemnifying party shall select and manage all attorneys
utilized in the defense of any such Claim; provided, that such attorneys are reasonably acceptable to the Indemnified Party. The indemnifying party shall keep the Indemnified Party apprised of the status of all Claims and promptly respond to
requests for information from the Indemnified Party relating to Claims. The indemnifying party, in settling any Claim, shall have the sole right to settle such Claim after consulting with the Indemnified Party; provided however, that the
indemnifying party shall not make any admissions of fault or impose any obligations on behalf of an Indemnified Party or enter into a settlement that does not has, e an unconditional release of the Indemnified Party, without prior written consent of
the Indemnified Party. 

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

 
 25 

 EXECUTIVE VERSION 
  

 ARTICLE 9. DISPUTE RESOLUTION 

 

	9.1	Negotiations. In the event of any dispute, controversy or claim arising out of, or related to, or in connection with this Agreement, or the interpretation, enforceability, performance, breach, termination
or validity hereof, including without limitation this Section 9.1 (each a “Dispute”), the Parties shall use good faith efforts to settle their differences amicably by negotiations between the Parties. In this regard, the
Parties may also elect by mutual agreement to have their dispute referred to a professional mediation service to assist the Parties to resolve their dispute by mutual agreement. If the Parties are unable to initially resolve a Dispute through
consultation and negotiations between the Parties within [***] after a Party notifies the other Party of a Dispute, any Party may proceed to litigation in accordance with this Agreement; provided, that this Section 9.1 shall not preclude a
Party from immediately seeking injunctive relief to prevent irreparable harm. 

 ARTICLE 10. CONFIDENTIALITY 

 

	10.1	Definition. “Confidential Information” means all information that is of a confidential or proprietary nature to Licensor or Licensee and provided by one Party to the other Party under the
Agreement. 

  

	10.2	 Protection and Marking. Licensor and Licensee each agree that all Confidential Information disclosed in tangible form, and marked
“confidential” and forwarded to one by the other, or if disclosed orally, is designated as confidential at the time of disclosure and summarized in a written document marked “confidential” and provided to the receiving Party
within [***] after the date of the initial disclosure: (a) is to be held in confidence by the receiving Party, (b) is to be used by and under authority of the receiving Part) only as authorized in this Agreement or the Sponsored Research
Agreement, and (b) shall not be disclosed by the receiving Party, its agents or employees without the prior written consent of the disclosing Party or as authorized in the Agreement. Licensee has the right to use and disclose Confidential
Information of Licensor reasonably in connection with the exercise of its rights under the Agreement, including, without limitation, disclosing to actual or potential Affiliates, Sublicensees, investors, acquirers, and others on a need to know
basis, if such Confidential Information is provided under written confidentiality obligations as restrictive as this Article 10. Each Party’s obligation of confidence under this Agreement includes, without limitation, using at least the same
degree of care with the disclosing Party’s Confidential Information as it uses to protect its oval Confidential Information, but always at least a reasonable degree of care. Notwithstanding the marking requirements set forth in this
Section 10.2, until published otherwise in the public domain through no breach of this Agreement all 

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

 
 26 

 EXECUTIVE VERSION 
  

	 	
invention disclosures, patentable subject matter and patent applications included in the Licensed Patents shall be subject to the restrictions in this Section 10.2 whether or not it is
marked or identified as “confidential” by Licensor. 

  

	10.3	Confidentiality of Terms of Agreement. Each Party agrees not to disclose to any third party the financial terms of the Agreement without the prior written consent of the other Party, except each Party may
disclose the terms of the Agreement to advisors, auditors, actual or potential Sublicensees, acquirers or investors, and others on a need to know basis, in each case, under appropriate confidentiality obligations substantially similar to those of
this Article 10. Further, Licensor may disclose the financial terms of this Agreement to the extent necessary to comply with applicable laws and court orders (including, without limitation, open records laws, decisions and rulings, and laws,
regulations and guidance). Notwithstanding the foregoing, the existence of the Agreement shall not be considered Confidential Information; however, the financial terms of this Agreement shall be considered Confidential Information and shall not be
disclosed to a third party without the prior written consent of the other Party. 

  

	10.4	Disclosure Required by Court Order or Law. If the receiving Party is required to disclose Confidential Information of the disclosing Party or any financial terms of this Agreement pursuant to applicable
laws or regulations (other than as provided in Section 10.3), including, without limitation, required disclosure by discovery, subpoena or other legal or administrative process hereto, or pursuant to the order or requirement of a court,
administrative agency, or other governmental body or applicable law, forcing the disclosure of the specified information, the receiving Party may disclose such Confidential Information or terms to the extent required, provided that the receiving
Party shall use reasonable efforts to provide the disclosing Party with reasonable advance notice thereof to enable the disclosing Party to seek a protective order and otherwise seek to prevent such disclosure. If no protective order or waiver is
obtained, such disclosure may be made but only to the extent legally required. The recipient Party shall not oppose any action by the other Party to obtain an appropriate protective order or other assurance that confidential information which must
be disclosed shall be accorded confidential treatment. To the extent that Confidential Information so disclosed does not become part of the public domain by virtue of such disclosure, it shall remain Confidential Information protected pursuant to
Article 10. 

  

	10.5	 Exclusions. Information shall not be considered Confidential Information of a disclosing Party under the Agreement to the extent that
the receiving Party can establish by competent written proof that such information: (a) was in the public domain at the time of disclosure; or (b) later became part of the public domain through no act or omission of the recipient Party,
its Affiliates, sublicensees, employees, agents, successors or assigns 

  
 27 

 EXECUTIVE VERSION 
  

	 	
in breach of the Agreement; or (c) was lawfully disclosed to the recipient Party by a third party, having the right to disclose it, not under an obligation of confidentiality; or
(d) was already known by the recipient Party at the time of disclosure; or (e) was independently developed by the recipient Party without use of the disclosing Party’s Confidential Information. 

 

	10.6	Continuing Obligations. Subject to the exclusions listed in Section 10.5, the Parties’ confidentiality obligations under the Agreement shall survive termination of the Agreement and shall
continue for a period of [***] thereafter. 

  

	10.7	Copies. Each Party agrees not to copy or record any of the Confidential Information of the other Party, except as reasonably necessary to exercise its rights or perform its obligations under the Agreement,
and for archival and legal purposes. 

 ARTICLE 11. INSURANCE 

 

	11.1	Insurance Prior to Commercial Sale. During the term of this Agreement and prior to the first commercial sale of a Licensed Product or Licensed Service under this Agreement, Licensee, at its sole cost and expense, shall
obtain and maintain commercial general liability insurance, including clinical trial liability coverage, with a reputable and financially secure insurance carrier, to cover such activities of Licensee and Licensee’s contractual indemnity under
this Agreement, on an occurrence basis. Such insurance shall provide minimum annual limits of liability of not less than [***]. 

[***] with respect to all occurrences being indemnified under this Agreement. Licensee shall have the Licensor, its trustees, directors,
officers, employees, agents and other Indemnified Parties named as additional insureds. Such insurance policy shall be purchased and kept in force until replaced as provided below. The minimum amounts of insurance coverage required herein shall not
be construed to create a limit of Licensee’s liability with respect to its indemnification under this Agreement. 
  

	11.2	Insurance Immediately Prior to Sales of Licensed Products. Before the first commercial sale of a Licensed Product or Licensed Service, Licensee shall increase the annual limits of its comprehensive general
liability insurance and add products liability insurance to no less than [***] with respect to all occurrences being indemnified under this Agreement, and Licensee shall provide proof to Licensor that such limits have been increased and are in
effect with the additional insureds named in Section 11.1. Such insurance policies shall be kept in force for a period lasting until [***] after the cessation of sales of all Licensed Products and Licensed Services under this Agreement.

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

 
 28 

 EXECUTIVE VERSION 
  

	11.3	Evidence of Insurance and Notice of Changes. Upon request by Licensor, Licensee shall provide Licensor with written evidence of such insurance. Additionally, Licensee shall provide and cause its insurance
carrier to provide Licensor with written notice of at least [***] prior to cancelling, not renewing, or materially changing such insurance. 

ARTICLE 12. GOVERNMENTAL MATTERS 
  

	12.1	Governmental Approval or Registration. If this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental agency, Licensee shall
assume all legal obligations to do so. Licensee shall notify Licensor if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. Licensee shall make all necessary filings and pay
all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval process, including all costs related to obtaining approval to market Licensed Product(s) from various governmental agencies on a
country-by-country basis. 

  

	12.2	Export Control Laws. Licensee shall observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries including,
without limitation, the (a) Arms Export Control Act (AECA), including its implementing International Traffic In Arms Regulations (ITAR), and the Export Administration Act (EAA), including its Export Administration Regulations (EAR)
product/service/data-specific requirements; (b) ITAR and EAR ultimate destination-specific requirements; (c) ITAR and EAR end user-specific requirements; (d) Foreign Corrupt Practices Act; and (e) anti-boycott laws and
regulations. Licensee shall comply with all then-current applicable export laws and regulations of the U.S. Government (and other applicable U.S. laws and regulations) pertaining to the Licensed Products. Licensee shall include a provision in its
agreements, substantially similar to this Section 12, with its Sublicensees, third party wholesalers and distributors, and physicians, hospitals or other healthcare providers who purchase a Licensed Product, requiring that these Parties comply
with all then-current applicable U.S. export laws and regulations and other applicable U.S. laws and regulations. 

 ARTICLE
13. GENERAL PROVISIONS 
  

	13.1	 Assignability. This Agreement may not be assigned by Licensee without the prior written consent of Licensor, which consent shall not be
unreasonably withheld; provided, however, that Licensee shall have the right to assign this Agreement without such consent (a) in connection with a sale of substantially all of its assets or a merger, acquisition, consolidation and/or corporate
reorganization, or (b) to any Affiliate. With any such 

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

 
 29 

 EXECUTIVE VERSION 
  

	 	
assignment, the assignee or surviving entity must agree to abide by all the terms and provisions of this Agreement, and the assigning Party shall remain liable under this Agreement for all
obligations arising prior to the effective date of the assignment. Any assignment in violation of this Section 13.1 shall be void and constitute a material breach of this Agreement. 

 

	13.2	Waiver. The failure of either Party to assert a right under this Agreement. or to insist upon the prompt compliance of any term or provision of this Agreement, shall not constitute a waiver of that right,
term or condition; and any similar subsequent failure to perform shall not be excused. No term, covenant or condition of this Agreement may be waived, except by a written consent by the Party so waiving the compliance. 

 

	13.3	Use of Name and Trademarks. Nothing contained in this Agreement confers any right to use and neither Party nor its Affiliates or, in the case of Licensee. its Sublicensees, shall use in advertising,
publicity, or other promotional activities any name, trade name, trademark, or other designation of the other Party (including contraction, abbreviation or simulation of any of the foregoing). Without limiting the foregoing, the use by Licensee of
the name, “Seattle Children’s Hospital,” “Seattle Children’s Research Institute” and the name of the Inventor is prohibited, without the advance express written consent of Licensor. Licensee shall not issue any press
release or publicity related to this Agreement without the advance express written consent of Licensor. 

  

	13.4	Notices. Any notices or payment required under this Agreement shall be in writing and deemed given if delivered personally or sent by certified or registered mail, postage pre-paid or by recognized
overnight carrier or express courier service or by facsimile, with confirmation of receipt, to the following addresses: 

  

			
	If to Licensor:	    	Seattle Children’s Research Institute
		    	2001 Eighth Avenue, Suite 400
		    	M./S: CW8-4, P.O. Box 5371
		    	Seattle, WA 98121
		    	Attn: Vice President, Research
		
	If to Licensee:	    	Juno Therapeutics, Inc.
		    	8725 W. Higgins Road, Suite 290
		    	Chicago, IL 60631

 Each Party shall be entitled to designate a different address from time to time, by delivering written
notice to the other Party in the manner described in this Section 13.4. 

  
 30 

 EXECUTIVE VERSION 
  

	13.5	Governing Laws. This Agreement shall be governed and construed in accordance with the laws of the state of Washington and without reference to any contrary or conflicting rules regarding choice of law.
However, the scope and validity of any patent or patent application shall be governed by the applicable laws of the country of the patent or patent application. Each Party consents to the exclusive jurisdiction of courts located in King County,
Washington with respect to any disputes arising under or in connection with this Agreement. 

  

	13.6	Force Majeure. If either Party shall be delayed, interrupted or prevented from the performance of any obligation hereunder by reason of force majeure, such as an act of God, fire, flood, earthquake, war,
terrorism, peril of the sea, public disaster, strike, labor dispute, governmental enactment, governmental rule or regulation, or any other cause beyond such Party’s reasonable control, such Party shall not be liable to the other Party for such
delay in performance; and the time for performance of such delayed obligation shall be extended for a reasonable period of time equal to the duration of the continuation of said force majeure which caused the delay, interruption or prevention. When
such events have abated, the non-performing Party’s obligations herein shall resume. If a delay continues for more than 60 days, Licensor shall have the right to terminate this Agreement. This Section 13.6 shall not apply to
Licensee’s payment obligations under this Agreement. 

  

	13.7	Severability. In the event that any of the provisions contained in this Agreement is held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other provisions of this Agreement, and this Agreement shall be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it. 

 

	13.8	Independent Contractors. The relationship of the Parties hereto is that of independent contractors. The Parties hereto are not deemed to be agents, partners or joint venturers of each other for any purpose
as a result of this Agreement or the transactions contemplated thereby, nor shall either Party have the right to enter into any agreements on behalf of the other Party, or to bind the other Party in any mariner without the other Party’s express
written consent. 

  

	13.9	Headings. The headings of the several sections are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement and shall not
be used or construed to create obligations, benefits or limitations. 

  
 31 

 EXECUTIVE VERSION 
  

	13.10	General Assurances. Each Party shall cooperate fully with the other Party in carrying out all the provisions and purposes of this Agreement, including without limitation, executing and delivering such
additional documents as may be reasonably necessary or appropriate. 

  

	13.11	Amendments. No amendment or modification of this Agreement shall be valid or binding on the Parties unless made in writing and signed on behalf of each Party. 

 

	13.12	Entire Agreement. This Agreement, the Sponsored Research Agreement and Research Side Letter constitute the entire agreement between the Parties with respect to the subject matter of this Agreement and this
Agreement supersedes all prior understandings, negotiations, and agreements with respect to the Licensed Patents. 

  

	13.13	Construction and Interpretation. Words (including defined terms) denoting the singular shall include the plural and vice versa. The words “hereof’, “herein”, “hereunder” and
words of the like import when used in this Agreement shall refer to this Agreement as a whole, and not to any particular provision of this Agreement. The term “include” (and any variant thereof), and the giving of examples, shall not be
construed as terms of limitation unless expressly indicated by the context in which they is used. The headings in this Agreement shall not affect its interpretation. Except as expressly provided herein, the rights and remedies herein provided shall
be cumulative and not exclusive of any other rights or remedies provided by law or otherwise. Each of the Parties has had an opportunity to consult with counsel of its choice. Each provision of this Agreement shall be construed without regard to the
principle of contra proferentum. If any provision of this Agreement is held to be invalid o: unenforceable the validity of the remaining provisions shall not be affected. The Parties shall replace the invalid or unenforceable provision by a
valid and enforceable provision closest to the intention of the Parties when signing this Agreement. This Agreement was negotiated, and shall be construed and interpreted, exclusively in the English language. 

 

	13.14	Counterparts. This Agreement may be executed in counterparts, both of which shall be taken together and regarded as one and the same instrument. Execution and delivery of this Agreement may be evidenced by
exchange of facsimile telecopies bearing the signatures of each Party; and upon the exchange of such signatures, this Agreement shall be deemed validly executed, delivered and binding. 

  
 32 

 EXECUTIVE VERSION 
  

 IN WITNESS WHEREOF, the Parties hereto have caused this Exclusive License Agreement to be
executed by their respective and duly authorized officers on the day and year first set forth above. 
  

									
	JUNO THERAPEUTICS, INC.:	 		 	 SEATTLE CHILDREN’S HOSPITAL

D/B/A SEATTLE CHILDREN’S
 RESEARCH
INSTITUTE:

					
	By:	 	 /s/ Hans Bishop
	 		 	By:	 	 /s/ James B. Hendricks

		 	Hans Bishop	 		 	James B. Hendricks, Ph.D.
		 	CEO	 		 	President

 [Signature Page to Exclusive License Agreement] 

 EXECUTIVE VERSION 
  

 EXHIBIT A 

PATENT LIST 
  

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

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

 
 34

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