Document:

Letter Agreement, Fred Hutchinson Cancer Research Center

 Exhibit 10.5 

FC Therapeutics, Inc. 

8725 W. Higgins Road, Suite 290 

Chicago, IL 60631 
 October 16, 2013

 Fred Hutchinson Cancer Research Center 
 1100 Fairview
Avenue North 
 P.O. Box 19024 
 Seattle, WA 98109-1024 

 

	Re:	Side Letter Agreement 

 Ladies and Gentlemen: 

This letter agreement is to confirm that in consideration of the entry by Fred Hutchinson Cancer Research Center
(“FHCRC”) into the Collaboration Agreement, dated as of the date hereof, with FC Therapeutics, Inc. (the “Company”), and for other consideration, the adequacy and sufficiency of which is hereby
acknowledged, the Company hereby makes the following covenants: 
 1. Grant of Restricted Stock. The Company shall grant to FHCRC
13,099,995 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), upon the execution and delivery by FHCRC of the Restricted Stock Agreement attached hereto as Exhibit A and
subject to the terms and conditions of such agreement; provided, however, that the Company shall issue sufficient shares of Common Stock to FHCRC such that FHCRC shall hold shares of the capital stock of the Company equal to 10% of all
shares of Common Stock issued and outstanding as of the date hereof (assuming full conversion or exercise of all outstanding preferred stock and other convertible securities, rights, options and warrants), assuming the issuance, for purposes of such
calculation, of 85,000,000 shares of Series A Preferred Stock (the “Assumed Series A Number”), but excluding, for purposes of such calculation, any shares of Common Stock issued or issuable upon conversion of shares
of Series A Preferred Stock of the Company in excess of the Assumed Series A Number and any shares of Common Stock issued or issuable upon conversion of shares of Series A-1 Preferred Stock of
the Company. The Company hereby makes the representations and warranties set forth on Exhibit B attached hereto regarding the capitalization of the Company as of the date hereof, including the issued and outstanding capital stock of the
Company and the holders thereof. 
 2. Success Payments. 

(a) The Company will notify FHCRC within twenty (20) calendar days of the occurrence of any Valuation Date during the Success Payment
Period. On each Valuation Date during the Success Payment Period, the Fair Market Value with respect to each share of Series A Preferred Stock shall be determined as of such Valuation Date. If the Multiple of Initial Equity as determined with
respect to such Valuation Date is equal to or exceeds any of the values of the Multiple of Initial Equity set forth in Exhibit C attached hereto (the “Trigger Values”), the Company shall be obligated to pay to
FHCRC a Success Payment. Such Success Payment shall be due and payable on the Success Payment Date with respect to such Success Payment, in cash or cash equivalents or, in the Company’s (or any successor entity’s) sole discretion, in
publicly tradable shares of the Company’s (or such successor entity’s) common stock. 

 (b) Any acquirer or exclusive licensee of all or substantially all of the Company’s assets,
or any successor entity to the Company (an “Acquirer”), shall be obligated to assume the Company’s obligations pursuant to this Section 2 and Exhibits B and C hereto. 

(c) For purposes of this letter agreement: 

“Affiliate” means, with respect to any entity, another entity that either directly or indirectly, through one
(1) or more intermediaries, Controls, is Controlled by or is under common Control with, such entity. 
 “Change of Control
Transaction” means either (a) the acquisition of the Company by another entity that is not an Affiliate of the Company by means of any transaction or series of related transactions to which the Company is party (including, without
limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes) that results in the voting securities of the Company outstanding immediately prior thereto failing to represent
immediately after such transaction or series of transactions (either by remaining outstanding or by being converted into voting securities of the surviving entity or the entity that controls such surviving entity) a majority of the total voting
power represented by the outstanding voting securities of the Company, such surviving entity or the entity that controls such surviving entity; or (b) a sale, lease or other conveyance of all or substantially all of the assets of the Company to
another entity that is not an Affiliate of the Company. 
 “Control” means with regard to any entity, the legal or
beneficial ownership, directly or indirectly, of fifty percent (50%) or more of the shares (or other ownership interest, if not a corporation) of such entity through voting rights or through the exercise of rights pursuant to agreement, or the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity. 

“Fair Market Value” shall have the meaning set forth in Exhibit D attached hereto. 

“Initial Public Offering” shall mean the closing of the Company’s first firm commitment underwritten public
offering of the Company’s Common Stock registered under the Securities Act of 1933, as amended. 
 “Multiple of Initial
Equity” means the quotient of (A) the Success Payment Value divided by (B) the original Series A Preferred Stock purchase price of $1.00 (each of clauses (A) and (B) as adjusted, in each case, for any
stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event). 

“Series A Preferred Stock” means shall mean Company’s shares of Series A Preferred Stock, par value
$0.0001 per share, and any securities received upon conversion thereof or in exchange therefor. After (i) a Merger in which some or all of the consideration is cash or (ii) an Asset Sale, each share of Series A Preferred Stock shall
be deemed to reflect a proportionate share of the ongoing value of the business of Juno acquired in the Merger or Asset Sale. 

“Success Payment Date” means (i) with respect to any Success Payment arising as a result of the IPO Valuation
Date, the first anniversary of the date on which the IPO Valuation Date occurs (plus a 90-day grace period at the Company’s option if the Company is contemplating capital market transactions during the grace period such as a secondary
offering), (ii) with respect to any Success Payment arising as a result of a Company Sale Valuation Date, the earlier of (a) the date on which any proceeds from the Company Sale are paid or distributed to any stockholder, and (b) the
date that is ninety (90) days after the Company Sale Valuation Date, and (iii) with respect to any other Success Payment, the date that is ninety (90) days after the Valuation Date pursuant to which such Success Payment obligation
arises. 

  
 2 

 “Success Payment” means the positive difference, if any between
(A) the amount (in millions) set forth in Exhibit B beneath the greatest Trigger Value that the Multiple of Initial Equity as of the Valuation Date meets or exceeds, less (B) all payments previously made to FHCRC on
Success Payment Dates pursuant to this Section 2. 
 “Success Payment Period” means the period of time that
commences on the date hereof, and ends on the later of: (i) the eighth anniversary of the date hereof and (ii) the earlier of (A) the eleventh anniversary of the date hereof, and (B) the third anniversary of the first date on
which the Food and Drug Administration issues formal written approval for the Company or a successor to market a pharmaceutical or biologic product developed at least in part by FC Therapeutics, Inc. 

“Success Payment Value” means, with respect to each share of Series A Preferred Stock and as of any Valuation
Date, the aggregate of (i) all dividends and other distributions (including the fair market value of non-cash distributions) made to the holders of Series A Preferred Stock with respect to each such share on or before the Valuation Date
and (ii) the Fair Market Value of each such share of Series A Preferred Stock as of such Valuation Date. 
 “Valuation
Date” is any one of the following dates that occur during the Success Payment Period: (i) the date on which the Company or a successor completes an Initial Public Offering, or its shares otherwise become publicly traded (the
“IPO Valuation Date”); (ii) the date on which the Company or a successor sells, leases, transfers or exclusively licenses all or substantially all of its assets to another company (an “Asset
Sale”); (iii) the date on which the Company merges or consolidates with or into another entity (other than a merger in which the pre-merger stockholders of the Company own a majority of the shares of the surviving entity) (a
“Merger” and with an Asset Sale, a “Company Sale”, and the Valuation Dates triggered thereby each a “Company Sale Valuation Date”), (iv) the dates on which ARCH Venture
Fund VII, L.P. (“ARCH”) or the entity designated by Alaska Permanent Fund Corporation or its affiliated entities to hold its shares of Series A Preferred Stock, or either of such entity’s affiliated entities that
hold such shares (“APFC LLC”) transfers a majority of its shares of company capital stock held by such entity on such date to a third party; (v) the bi-annual anniversary of any event described in the preceding clauses
(i), (ii), (iii) or (iv), but only if FHCRC requests, within twenty (20) calendar days after written notice of such event from the Company, that such date be considered a Valuation Date; and (vi) the last day of the Success Payment
Period. 
 3. Termination. The rights and obligations described in Section 2 of this letter agreement shall terminate upon the
earlier of (i) termination of the Collaboration Agreement by the Company as a result of a willful breach thereof by FHCRC (but not as a result of any other termination), and (ii) the day after the last day on which a Success Payment may be
due hereunder (with the obligation to make any such payment surviving termination), and which is expected to be between ninety-one (91) days and one (1) year and ninety-one (91) days after the last day of the Success Payment Period.
The parties agree that upon a termination as a result of a willful breach of the Collaboration Agreement by FHCRC, the Company may offset agreed damages for such breach against any outstanding Success Payment obligations hereunder. 

4. Director Designation; Observer Right. Until the earlier of (i) the first date on which FHCRC or its affiliates no longer own a
majority of the Common Stock granted to FHCRC pursuant to Section 1 of this letter agreement, (ii) the closing of an Initial Public Offering; or (iii) a Change of Control Transaction: 

(i) FHCRC shall be entitled to designate no less than two (2) directors to the Company’s board of directors (the
“Board”), provided, however, that each such designee shall be either (a) the President of FHCRC or (b) approved by the Board in its reasonable discretion; provided, however, that each
designee designated pursuant to this clause (b) shall have experience serving on the board of directors of a public company as an independent director and shall not be an officer or employee of FHCRC, and subject to the

  
 3 

 
other terms of and conditions of such right as set forth in the of the Voting Agreement, dated as of the date hereof, by and among the Company, the Series A Investors (as defined therein),
the Series A-1 Preferred Holders (as defined therein) and the Founders (as defined therein), including FHCRC; and 

(ii) FHCRC shall be entitled to designate one representative reasonably acceptable to the Company to attend all meetings (whether in person,
telephonic or otherwise) of the Board in a non-voting, observer capacity. In addition, the Company shall provide to each representative, concurrently with the members of the Board or the committees thereof, as applicable, and in the same manner,
notice of such meeting and a copy of all materials provided to such members, including all materials provided to such members in connection with any action to be taken by the Board or the committees thereof, as applicable, without a meeting. Such
attendance and receipt of documents shall be subject to reasonable confidentiality restrictions such as those included in Section 3.4 of the Investors’ Rights Agreement, dated as of the date hereof, by and among the Company, and the
Investors (as defined therein), including FHCRC. 
 5. Related Transactions. 

(i) The Company represents and warrants that the Initial First Tranche Closing as defined in and pursuant to that certain Series A
Preferred Stock Purchase Agreement, dated as of the date hereof, by and between the Company and the persons and entities listed on the Schedule of Investors attached thereto (the “Series A SPA”) shall have been
consummated prior to or concurrently with execution of this letter agreement, and that at such Initial Tranche Closing, not less than $10,000,000 of Series A Preferred Stock was purchased. The Company has provided correct and complete copies of
the Series A SPA and all exhibits, appendices, schedules and closing deliverables to the Initial First Tranche Closing to FHCRC. 

(ii) The Company represents and warrants that the Closing as defined in and pursuant to that certain Asset Purchase Agreement, dated as of
September 30, 2013, by and between the Company and ZetaRx Biosciences, Inc. (the “APA”) shall have been consummated prior to or concurrently with execution of this letter agreement. The Company has provided correct and
complete copies of the APA and all exhibits, appendices, schedules and closing deliverables thereto to FHCRC. 
 This letter agreement will
be construed, interpreted, and applied in accordance with the laws of the State of Delaware, excluding its body of law controlling conflicts of laws. The rights and obligations under this letter agreement may not be assigned, and any attempt to do
so will be null and void, without the prior written consent of the Company; provided, however, that FHCRC may assign its rights under this letter agreement to any direct or indirect wholly owned subsidiary of FHCRC that acquires shares
of the capital stock of the Company from FHCRC so long as such wholly owned subsidiary of FHCRC agrees to be bound by the terms and provisions of this letter agreement. This letter agreement may not be amended except by the written agreement signed
by authorized representatives of both parties and may be executed in counterparts, with signatures delivered by facsimile or .pdf binding as if originally executed. 

[Signature Page Follows] 

  
 4 

 This letter agreement is the complete and exclusive statement regarding the subject matter of
this agreement and supersedes all prior agreements, understandings and communications, oral or written, between the parties regarding the subject matter of this letter agreement. 

 

					
	With best regards,
	
	FC THERAPEUTICS, INC.
		
	By:	 	 /s/ Hans Bishop

		 	Name:	 	Hans Bishop
		 	Title:	 	Chief Executive Officer

 Accepted and Agreed: 
  

					
	FRED HUTCHINSON CANCER RESEARCH CENTER
		
	By:	 	 /s/ Ulrich Mueller

		 	Name:	 	Ulrich Mueller
		 	Title:	 	Vice President, Industry Relations & Clinical Research Support

 EXHIBIT A 

RESTRICTED STOCK PURCHASE AGREEMENT 

[See attached] 

  
 6 

 FC THERAPEUTICS, INC. 

STOCK GRANT AGREEMENT 

This Stock Grant Agreement (the “Agreement”) is made as of October 15, 2013 by and between FC Therapeutics, Inc.,
a Delaware corporation (the “Company”), and Fred Hutchinson Cancer Research Center (“FHCRC”). 

In consideration of the mutual covenants and representations set forth below, the Company and FHCRC agree as follows: 

1. Grant of Restricted Stock. Subject to the terms and conditions of this Agreement, in consideration for the entry by FHCRC into the
Collaboration Agreement, dated as of the date hereof, with FC Therapeutics, Inc. (the “Company”), and for other consideration, the adequacy and sufficiency of which is hereby acknowledged, the Company hereby grants to FHCRC
13,099,995 shares of the Company’s Common Stock, par value $0.0001 per Share (the “Shares”). 
 2.
Restrictions on Transfer. 
 A. Investment Representations and Legend Requirements. FHCRC hereby makes the investment
representations listed on Exhibit A to the Company as of the date of this Agreement and as of the date of the Closing, and agrees that such representations are incorporated into this Agreement by this reference, such that the Company may
rely on them in issuing the Shares. FHCRC understands and agrees that the Company shall cause the legends set forth below, or substantially equivalent legends, to be placed upon any certificate(s) evidencing ownership of the Shares, together with
any other legends that may be required by the Company or by applicable state or federal securities laws: 
 THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT. 
 B.
Stop-Transfer Notices. FHCRC agrees that to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company
transfers its own securities, it may make appropriate notations to the same effect in its own records. 
 C. Refusal to
Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to
accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 
 3.
Tax Consequences. FHCRC has reviewed with FHCRC’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. FHCRC is relying solely on such advisors
and not on any statements or representations of the Company or any of its agents. FHCRC understands that FHCRC (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this
Agreement. 

 4. General Provisions. 

A. Choice of Law. This Agreement shall be governed by the internal substantive laws, but not the choice of law rules, of
Washington. 
 B. Integration. This Agreement, including all exhibits hereto, with the Side Letter Agreement between the
parties, and the Company’s Voting, Investor Rights and Right of First Refusal and Co-Sale Agreements, all dated as of the date hereof, represent the entire agreement between the parties with respect to the grant of the Shares by FHCRC and
supersedes and replaces any and all prior written or oral agreements regarding the subject matter of this Agreement including, but not limited to, any representations made during any interviews, relocation discussions or negotiations whether written
or oral. 
 C. Notices. Any notice, demand, offer, request or other communication required or permitted to be given by either
the Company or FHCRC pursuant to the terms of this Agreement shall be in writing and shall be deemed effectively given the earlier of (i) when received, (ii) when delivered personally, (iii) one business day after being delivered by
facsimile (with receipt of appropriate confirmation), (iv) one business day after being deposited with an overnight courier service or (v) four days after being deposited in the U.S. mail, First Class with postage prepaid and return
receipt requested, and addressed to the parties at the addresses provided to the Company (which the Company agrees to disclose to the other parties upon request) or such other address as a party may request by notifying the other in writing. 

Subject to the limitations set forth in Section 232(e) of the Delaware General Corporation Law, FHCRC consents to the delivery of any
notice to stockholders given by the Company under the Delaware General Corporation Law or the Company’s certificate of incorporation or bylaws by (i) facsimile telecommunication to the facsimile number set forth on the signature page (or
to any other facsimile number for FHCRC in the Company’s records), (ii) electronic mail to the electronic mail address set forth on the signature page (or to any other electronic mail address for FHCRC in the Company’s records), or
(iii) posting on an electronic network together with separate notice to FHCRC of such specific posting. This consent may be revoked by FHCRC by written notice to the Company and may be deemed revoked in the circumstances specified in
Section 232 of the Delaware General Corporation Law. 
 D. Successors. Any successor to the Company (whether direct or
indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the
obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company”
shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this section or which becomes bound by the terms of this Agreement by operation of law. Subject to the
restrictions on transfer set forth in this Agreement, this Agreement shall be binding upon FHCRC and its successors and assigns. 
 E.
Assignment; Transfers. Except as set forth in this Agreement, this Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned, transferred, delegated or sublicensed by FHCRC without the prior written
consent of the Company. Any attempt by FHCRC without such consent to assign, transfer, delegate or sublicense any rights, duties or obligations that arise under this Agreement shall be void. Except as set forth in this Agreement, any transfers in
violation of any restriction upon transfer contained in any section of this Agreement shall be void, unless such restriction is waived in accordance with the terms of this Agreement. 

  
 2 

 F. Waiver. Either party’s failure to enforce any provision of this Agreement
shall not in any way be construed as a waiver of any such provision, nor prevent that party from thereafter enforcing any other provision of this Agreement. The rights granted both parties hereunder are cumulative and shall not constitute a waiver
of either party’s right to assert any other legal remedy available to it. 
 G. FHCRC Investment Representations and Further
Documents. FHCRC agrees upon request to execute any further documents or instruments necessary or reasonably desirable in the view of the Company to carry out the purposes or intent of this Agreement, including (but not limited to) the
applicable exhibits and attachments to this Agreement. 
 H. Severability. Should any provision of this Agreement be found to
be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable to the greatest extent permitted by law. 

I. Rights as Stockholder. Subject to the terms and conditions of this Agreement, FHCRC shall have all of the rights of a
stockholder of the Company with respect to the Shares from and after the date that FHCRC delivers a fully executed copy of this Agreement (including the applicable exhibits and attachments to this Agreement), and until such time as FHCRC disposes of
the Shares in accordance with this Agreement. Upon such transfer, FHCRC shall have no further rights as a holder of the Shares so granted except (in the case of a transfer to the Company) the right to receive payment for the Shares so granted in
accordance with the provisions of this Agreement, and FHCRC shall forthwith cause the certificate(s) evidencing the Shares so granted to be surrendered to the Company for transfer or cancellation. 

J. Adjustment for Stock Split. All references to the number of Shares in this Agreement shall be adjusted to reflect any stock
split, stock dividend or other change in the Shares which may be made after the date of this Agreement. 
 K. Reliance on Counsel and
Advisors. FHCRC acknowledges that Wilson Sonsini Goodrich & Rosati, Professional Corporation, is representing only the Company in this transaction. FHCRC acknowledges that it has had the opportunity to review this Agreement,
including all attachments hereto, and the transactions contemplated by this Agreement with its own legal counsel, tax advisors and other advisors. FHCRC is relying solely on its own counsel and advisors and not on any statements or representations
of the Company or its agents for legal or other advice with respect to this investment or the transactions contemplated by this Agreement. 

L. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all
of which together will constitute one and the same agreement. Facsimile copies of signed signature pages shall be binding originals. 

(signature page follows) 

  
 3 

 The parties represent that they have read this Agreement in its entirety, have had an opportunity
to obtain the advice of counsel prior to executing this Agreement and fully understand this Agreement. FHCRC agrees to notify the Company of any change in its contact information below. 

 

			
	FRED HUTCHINSON CANCER RESEARCH CENTER
		
	By:	 	  

		 	Signature

			
	
	  

	Print Name	 	
	
	  

	Title	 	
	
	FC THERAPEUTICS, INC.
	
	  

	Signature	 	
	
	  

	Print Name	 	
	
	  

	Print Title	 	
	
	8725 W. Higgins Road, Suite 290
	Chicago, IL 60631

 Exhibit A 

INVESTMENT REPRESENTATION STATEMENT 
  

					
	TRANSFEREE	  	:	    	Fred Hutchinson Cancer Research Center
			
	COMPANY	  	:	    	FC Therapeutics, Inc.
			
	SECURITY	  	:	    	Common Stock
			
	AMOUNT	  	:	    	13,099,955 shares
			
	DATE	  	:	    	October 15, 2013

  
  

In connection with the grant of the above-listed shares, the undersigned entity (the “Transferee”) represents to the
Company as follows: 
 1. The Company may rely on these representations. The Transferee understands that the Company’s
transfer of the Shares to the Transferee has not been registered under the Securities Act of 1933, as amended (the “Securities Act”), because the Company believes, relying in part on the Transferee’s representations in
this document, that an exemption from such registration requirement is available for such sale. The Transferee understands that the availability of this exemption depends upon the representations the Transferee is making to the Company in this
document being true and correct. 
 2. The Transferee is purchasing for investment. The Transferee is purchasing the shares
solely for investment purposes, and not for further distribution. The Transferee’s entire legal and beneficial ownership interest in the shares is being granted to and shall be held solely for the Transferee’s account, except to the extent
the Transferee intends to hold the shares jointly with the Transferee’s spouse. The Transferee is not a party to, and does not presently intend to enter into, any contract or other arrangement with any other person or entity involving the
resale, transfer, grant of participation with respect to or other distribution of any of the shares. The Transferee’s investment intent is not limited to the Transferee’s present intention to hold the shares for the minimum capital gains
period specified under any applicable tax law, for a deferred sale, for a specified increase or decrease in the market price of the shares, or for any other fixed period in the future. 

3. The Transferee can protect the Transferee’s own interests. The Transferee can properly evaluate the merits and risks of
an investment in the shares and can protect the Transferee’s own interests in this regard, whether by reason of the Transferee’s own business and financial expertise, the business and financial expertise of certain professional advisors
unaffiliated with the Company with whom the Transferee has consulted, or the Transferee’s preexisting business or personal relationship with the Company or any of its officers, directors or controlling persons. 

4. The Transferee is informed about the Company. The Transferee is sufficiently aware of the Company’s business affairs and
financial condition to reach an informed and knowledgeable decision to acquire the shares. The Transferee has had an opportunity to discuss the plans, operations and financial condition of the Company with its officers, directors or controlling
persons, and has received all information the Transferee deems appropriate for assessing the risk of an investment in the shares. 

 5. The Transferee recognizes the Transferee’s economic risk. The Transferee
realizes that the ownership of the shares involves a high degree of risk, and that the Company’s future prospects are uncertain. The Transferee is able to hold the shares indefinitely if required, and is able to bear the loss of the
Transferee’s entire investment in the shares. 
 6. The Transferee knows that the shares are restricted securities. The
Transferee understands that the shares are “restricted securities” in that the Company’s sale of the shares to the Transferee has not been registered under the Securities Act in reliance upon an exemption for non-public offerings. In
this regard, the Transferee also understands and agrees that: 
 A. the Transferee must hold the shares indefinitely, unless any subsequent
proposed resale by the Transferee is registered under the Securities Act, or unless an exemption from registration is otherwise available (such as Rule 144); 

B. the Company is under no obligation to register any subsequent proposed resale of the shares by the Transferee; and 

C. the certificate evidencing the shares will be imprinted with a legend which prohibits the transfer of the shares unless such transfer is
registered or such registration is not required in the opinion of counsel for the Company. 
 7. The Transferee is familiar with Rule
144. The Transferee is familiar with Rule 144 adopted under the Securities Act, which in some circumstances permits limited public resales of “restricted securities” like the shares acquired from an issuer in a non-public offering.
The Transferee understands that the Transferee’s ability to sell the shares under Rule 144 in the future is uncertain, and may depend upon, among other things: (i) the availability of certain current public information about the Company;
(ii) the resale occurring more than a specified period after the Transferee’s receipt and full payment (within the meaning of Rule 144) for the shares; and (iii) if the Transferee is an affiliate of the Company (A) the sale being
made in an unsolicited “broker’s transaction”, transactions directly with a market maker or riskless principal transactions, as those terms are defined under the Securities Exchange Act of 1934, as amended, (B) the amount of
shares being sold during any three-month period not exceeding the specified limitations stated in Rule 144, and (C) timely filing of a notice of proposed sale on Form 144, if applicable. 

8. The Transferee knows that Rule 144 may never be available. The Transferee understands that the requirements of Rule 144 may
never be met, and that the shares may never be saleable under the rule. The Transferee further understands that at the time the Transferee wishes to sell the shares, there may be no public market for the Company’s stock upon which to make such
a sale, or the current public information requirements of Rule 144 may not be satisfied, either of which may preclude the Transferee from selling the shares under Rule 144 even if the relevant holding period had been satisfied. 

9. The Transferee knows that the Transferee is subject to further restrictions on resale. The Transferee understands that in the
event Rule 144 is not available to the Transferee, any future proposed sale of any of the shares by the Transferee will not be possible without prior registration under the Securities Act, compliance with some other registration exemption (which may
or may not be available), or each of the following: (i) the Transferee’s written notice to the Company containing detailed information regarding the proposed sale, (ii) the Transferee’s providing an opinion of the
Transferee’s counsel to the effect that such sale will not require registration, and (iii) the Company notifying the Transferee in writing that its counsel concurs in such opinion. The Transferee understands that neither the Company nor
its counsel is obligated to provide the Transferee with any such opinion. The Transferee understands that although Rule 144 is not exclusive, the Staff of the SEC has stated that persons proposing to sell private placement securities other than

  
 2 

 
in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so at their own risk. 
 10. The Transferee knows that
tax liability, if any, due to the uncertain value of the shares will be the responsibility of Transferee. The Transferee understands that the board of directors believes its valuation of the shares represents a fair appraisal of their worth,
but that it remains possible that, with the benefit of hindsight, the Internal Revenue Service may successfully assert that the value of the shares on the date of the Transferee’s grant is substantially greater than the Board’s appraisal.
The Transferee understands that, subject to the tax rules applicable to tax-exempt organizations, any additional value ascribed to the shares by such an IRS determination may constitute ordinary income to the Transferee as of the purchase date, and
that if any additional taxes and interest are due as a result, such taxes and interest would be the Transferee’s sole responsibility payable only by the Transferee, and that the Company need not and will not reimburse the Transferee for that
tax liability. 
 11. Residence. The Transferee is a resident and domiciliary of the state or other jurisdiction hereinafter
set forth opposite the Transferee’s signature and the Transferee has no present intention of becoming a resident of any other state or jurisdiction. 

By signing below, the Transferee acknowledges the Transferee’s agreement with each of the statements contained in this Investment
Representation Statement as of the date first set forth above, and the Transferee’s intent for the Company to rely on such statements in issuing the shares to the Transferee. 

 

					
	 FRED HUTCHINSON CANCER RESEARCH CENTER,

A NONPROFIT CORPORATION

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

			
		 	Date:	 	  

 Address: 
 Fred Hutchinson
Cancer Research Center 
 1100 Fairview Avenue North 
 P.O. Box
19024 
 Seattle, WA 98109-1024 

  
 3 

 EXHIBIT B 

CAPITALIZATION 
  

	•	 	As of the date hereof, and excluding the issuance to FHCRC under the Agreement, the authorized capital stock of the Company will consist of 200,000,000 shares of Common Stock, of which 24,092,492 shares are issued and
outstanding, 97,200,000 shares of Preferred Stock, 88,200,000 of which are designated Series A Preferred and none of which are issued and outstanding and 9,000,000 of which are designated Series A-1
Preferred Stock and none of which are issued and outstanding. The Common Stock and the Series A Preferred shall have the rights, preferences, privileges and restrictions set forth in the Amended and Restated Certificate of Incorporation of the
Company (the “Restated Certificate”). 

  

	•	 	The Company has not reserved securities for issuance, except as set forth below: 

  

	 	•	 	the Shares for issuance pursuant to this Agreement; 

  

	 	•	 	shares of Common Stock (as may be adjusted in accordance with the provisions of the Restated Certificate) for issuance upon conversion of the Shares; and 

 

	 	•	 	28,345,081 shares of Common Stock authorized for issuance to employees, consultants and directors pursuant to its 2013 Equity Incentive Plan, under which options to purchase no shares are issued and outstanding as of
the date of this Agreement and restricted stock awards with respect to which 19,704,432 shares are issued and outstanding. All such outstanding options have been issued in compliance with state and federal securities laws. 

 

	•	 	As of the date hereof, the Company has issued to the following individuals and entities the number of shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”)
set forth opposite such individual or entity’s name below, and such shares remain issued and outstanding as of the date hereof: 

  

					
	 ARCH Venture Fund VII, L.P.
	  	 	4,388,060 shares	  
	 Richard Klausner
	  	 	3,929,996 shares	  
	 Larry Corey
	  	 	2,000,000 shares	  
	 Hans Bishop
	  	 	7,774,436 shares	  
	 Michael Jensen
	  	 	2,000,000 shares	  
	 Stan Riddell
	  	 	2,000,000 shares	  
	 Philip Greenberg
	  	 	2,000,000 shares	  
		  	  
	  
	 
		
	 TOTAL:
	  	 	24,092,492 SHARES	  

  

	•	 	As of the date hereof, the Company shall issue 10,000,000 shares of Series A Preferred Stock to ARCH Venture Fund VII, L.P.. The Board of Directors of the Company has approved (i) the authorization and
issuance of up to an additional 78,200,000 shares of the Company’s Series A Preferred Stock pursuant to the Series A SPA and the APA, (ii) the authorization and issuance of 9,000,000 shares of the Company’s Series A-1 Preferred Stock pursuant to the APA, all of which shares of Series A-1 Preferred Stock are anticipated to be issued as of the date hereof, and
(iii) the authorization and issuance of sufficient shares of Common Stock for issuance upon conversion of the shares described in clauses (i) and (ii) and issuance of 900,000 shares of Common Stock to ZetaRx pursuant to the APA.

  
 7 

 EXHIBIT C 

SUCCESS PAYMENTS 
  

																																					
	Multiple of Initial Equity Value	  	5.0x	 	  	7.5x	 	  	10.0x	 	  	15.0x	 	  	20.0x	 	  	25.0x	 	  	30.0x	 	  	35.0x	 	  	40.0x	 
										
	 Success Payment(s) (Aggregate)
	  	$	10	  	  	$	35	  	  	$	75	  	  	$	125	  	  	$	175	  	  	$	225	  	  	$	275	  	  	$	325	  	  	$	375	  

  
 8 

 EXHIBIT D 

FAIR MARKET VALUE 
 The “Fair
Market Value” with respect to each share of Series A Preferred Stock as of any Valuation Date shall be determined as follows: 
 1. With
respect to any IPO Valuation Date, the “Fair Market Value” will be the average trading price of a share of the common stock of the Company over the consecutive 90-day period preceding the applicable Success Payment Date. 

2. With respect to any Valuation Date described in clause (iv) of the definition thereof, the “Fair Market Value” will be the per share
purchase price in the applicable transfer. 
 3. With respect to any Valuation Date described in clause (iii) of the definition thereof, the “Fair
Market Value” will be equal to the cash, or value of marketable securities, received for each share of the Company’s Series A Preferred stock in such transaction. 

4. With respect to any other Valuation Date, the “Fair Market Value” shall be determined for each share of Series A Preferred Stock as set
forth below and in accordance with the Fair Market Value Methodology (provided, however, that with respect to any Valuation Date described in clause (v) of the definition of Valuation Date that occurs two years following a Company Sale,
the “Fair Market Value” shall be determined as of such Valuation Date based on the value of the assets held by the Company immediately prior to the Company Sale, not all assets of the acquiring entity, and the value of one share of
Series A Preferred Stock shall be calculated based on the assumption that the capitalization structure of the Company as in effect immediately prior to the Company Sale remains in effect as of such Valuation Date). 

(a) Within 20 calendar days of the Valuation Date, the Company shall deliver to FHCRC a proposed Fair Market Value by written notice (the
“Company Notice”). If FHCRC does not object to such written notice by delivering written notice to the Company of its objection within 20 calendar days (an “Objection Notice”), the Fair Market Value
shall be the Fair Market Value proposed in such Company Notice. Within 10 calendar days of the delivery of such Objection Notice (the end of such 10 calendar day period being the “Trigger Date”), each of FHCRC and the Company
shall consult with each other and attempt in good faith to agree upon a Fair Market Value with the Fair Market Value being the price so agreed in writing if agreement is reached within such time period. 

(b) If FHCRC and the Company do not agree on the Fair Market Value before the Trigger Date, then within 10 calendar days of the Trigger Date,
each of FHCRC, and the Company shall give written notice (each such notice, a “Fair Market Value Notice”) to the other of its proposed determination of Fair Market Value (in accordance with the Fair Market Value Methodology
and it being understood that the first such written notice given by each such party shall be deemed their respective Fair Market Value Notice) and, if the variance between the proposed valuations as set forth in their respective Fair Market Value
Notices is 10% or less of the higher amount (i.e., the lower amount set out in a Fair Market Value Notice is greater than 90% of the higher amount set out in the other Fair Market Value Notice), then Fair Market Value shall be deemed to equal the
average (i.e., the arithmetic mean) of such proposed values as set forth in such Fair Market Value Notices. 
 (c) If the variance between
the proposed amounts set forth in such Fair Market Value Notices is greater than 10% of the higher amount, then each of FHCRC and the Company shall appoint an arbitrator 

  
 9 

 
pursuant to clause (e) below to act as an expert and not as an arbitrator (the “Valuation Expert”), at the expense of each of each of FHCRC and the Company in equal
proportions, for the purpose of making the determination referred to here, with such Valuation Expert instructed to determine its independent estimate of the Fair Market Value (the “Valuation Expert’s Estimate”) in
accordance with the Fair Market Value Methodology within 20 calendar days after being appointed (it being understood that neither relevant Party shall provide the Valuation Expert with their respective Fair Market Value Notices nor disclose to such
Valuation Expert the contents thereof and that the relevant Parties shall make available to such Valuation Expert access on a confidential basis to such books, accounts, records and forecasts as reasonably requested and believed to be necessary to
determine the Fair Market Value). 
 (d) The Fair Market Value shall then conclusively be deemed to equal the average (i.e., the arithmetic
mean) of the Valuation Expert’s Estimate and the Fair Market Value determination set forth in that Fair Market Value Notice that is closest to the Valuation Expert’s Estimate, but in no case more in dollar amount than the highest or less
in dollar amount than the lowest of the Fair Market Value Notices, and such value shall be final and binding on the Parties hereto (it being understood that for the avoidance of doubt no Party shall be able to contest the Valuation Expert’s
Estimate based on any claim of non-adherence to the Fair Market Value Methodology). 
 (e) If each of the Company and FHCRC fail to mutually
agree on a Valuation Expert within 20 calendar days of the Trigger Date, each of such parties shall, within 10 calendar days thereafter, appoint two independent public accountants (that shall each not be an Affiliate or service provider of any of
the Company or FHCRC at the time of arbitration), who shall try to mutually agree on a third party Valuation Expert. If such independent public accountants fail to mutually agree on such Valuation Expert within 10 calendar days from appointment,
each of such independent public accountants shall appoint two additional independent public accountants within 10 calendar days, and the Valuation Expert will be selected from among the four independent public accountants by drawing lots. The
Success Payment Date will be extended by up to 30 calendar days if necessary to complete the process of designation of the Valuation Expert. 

(f) All Fair Market Value determinations set forth in any Fair Market Value Notice pursuant to this Exhibit C and all valuations
estimated and/or determined by the Valuation Expert must adhere to the following requirements (the “Fair Market Value Methodology”): 
  

	 	i.	subject to the below, be in accordance with industry standard valuation methodologies including but not limited to revenues, price-earnings ratio, free cash flow, EBITDA multiples or other appropriate metrics;

  

	 	ii.	be, subject to clause (iii) below, based on the actual historical results of the operation of the Company as reflected on its audited and unaudited financial statements and reasonable forecasts of up to five
(5) years assuming ordinary course of operations of the Company consistent with past practice; and 

  

	 	iii.	for the avoidance of doubt, specifically, take into full account the working capital balances of the Company and assume that any financial indebtedness or negative working capital balances of the Company are paid off or
offset in full with available cash (with the consequences or repayment or failure to offset with available cash transferred reflected as a degradation to the Fair Market Value). 

  
 10Exclusive License Agreement, Memorial Sloan-Kettering Cancer Center

 Exhibit 10.7(A) 

Execution Copy 
 [***] 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 (“Agreement”) is effective as of November 21, 2013 (“Effective Date”), and is by and between Memorial Sloan-Kettering Cancer Center (“MSKCC”), a New York
corporation with principal offices at 1275 York Avenue, New York, NY 10065, and Juno Therapeutics, Inc., a Delaware corporation with principal offices at 8725 W. Higgins Road, Suite 290, Chicago, IL 60631 (“LICENSEE”). 

WHEREAS, MSKCC is the owner of certain Licensed Rights (defined below); 

WHEREAS, LICENSEE desires to obtain an exclusive license on the terms set forth herein under Licensed Rights to develop and commercialize Licensed Products
and perform Licensed Services (both defined below); and 
 WHEREAS, MSKCC is willing to grant an exclusive license to LICENSEE on the terms set forth
herein; 
 NOW THEREFORE, for and in consideration of the foregoing premises and the following covenants, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I - DEFINITIONS 

For the purpose of this Agreement, the following words and phrases shall have the following meanings: 

1.1 “Affiliate” as used herein in either singular or plural means, with respect to a party, any corporation, company,
partnership, joint venture or other entity, which directly or indirectly: (a) Controls, is Controlled by or is under common Control with the specified entity; or (b) both (i) owns, is owned by, or is under common ownership with the
specified entity, in whole or in part, and (ii) conducts business under a trade identifier of the specified entity, with the authorization of the specified entity. For purposes of this definition, “Control” of an entity means the
direct or indirect ownership or control of at least fifty percent (50%) of the right to direct or cause the direction of the policies and management of such person or entity, whether by the ownership of stock, by contract or otherwise. In any
jurisdiction where 50% control is not permitted by applicable law, the “greater than 50%” threshold shall be deemed satisfied by the possession of substantially the maximum percentage allowable in such jurisdiction. With regard to MSKCC,
“Affiliate” shall include, without limitation, the Memorial Sloan-Kettering Cancer Center and the Memorial Hospital for Cancer and Allied Diseases. 

  
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1.2 “Combination Product” means a finished pharmaceutical product that comprises Licensed Product and a second active
pharmaceutical ingredient, but only if (a) such finished pharmaceutical product has received regulatory approval and is sold in a country as a single product, and (b) the Licensed Product and/or such other active pharmaceutical ingredient
is/are also approved and sold separately in such country. 
 1.3 “Commercialization” (and with correlative meaning,
“Commercialize” and “Commercializing”) means, with respect to any product or compound, the performance of marketing, sales, distribution and support activities for such product or compound. For the avoidance of doubt,
“Commercialization” does not include Development or Manufacturing activities. 
 1.4 “Control” means with
respect to Intellectual Property Rights, possession by the party granting the applicable right, license or sublicense to the other party without (a) violating the terms of any written agreement with a third party, and (b) incurring any
payment obligation to a third party. 
 1.5 “Development” (and with correlative meaning, “Develop” and
“Developing”) means all activities, during and after Phase I, required by Law, and/or included within and consistent with generally recognized clinical, non-clinical, and/or pre-marketing and post-marketing development practices to
be performed in connection with the clinical and non-clinical testing and approval of new pharmaceutical products or compounds by the FDA and any FDA counterpart, and pre-Commercialization preparation for such product or compound, including, but not
limited to, Phase I, Phase II, Phase III Trials, and studies related to toxicology, absorption, distribution, metabolism and excretion, process and product development and pre-marketing studies and the design (but not performance) of post-marketing
surveillance and the design and conduct of studies after NDA approval. For the avoidance of doubt, “Development” does not include pre-Phase I activities or drug discovery activities. 

1.6 “Field of Use” means all therapeutic and diagnostic uses. 

1.7 “First Commercial Sale” means the first sale of a Licensed Product to a Third Party following the receipt of any Regulatory
Approval required for the sale of such Licensed Product. 
 1.8 “Intellectual Property Rights” means any or all of the
following, and any and all rights anywhere in the world in, arising out of or associated therewith: (a) patent applications or patents; (b) copyrights and other rights in works of authorship; (c) trade secrets; (d) rights in data
or Know-How (including both intellectual property rights and personal property rights in tangible property); and (e) all other intellectual property rights similar to the foregoing (but in no event including trademarks, trade names, service
marks, service names, trade dress rights or other similar rights); in each case, whether or not any of the foregoing is registered, and including, without limitation, rights to apply for, applications for registration of, and any
registrations or issuances of, any of the foregoing. 

  
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1.9 “Know-How” means tangible and intangible technical information, materials, inventions, processes, protocols, procedures,
formulations, compounds, compositions, devices, methods, formulae, protocols, techniques, algorithms, software, works of authorship, designs, drawings, results, findings, ideas, concepts, creations, discoveries, developments, techniques, processes,
know-how, drawings, designs, specifications, data, content, information, formulas, formulations, algorithms, software, and other technologies or subject matter of any kind, in each case, that are not generally publicly known. 

1.10 “Licensed Product” means: (a) on a country-by-country basis, any product, the making, using, selling, offering for
sale or importing in the country in question would (without the license granted under this Agreement, or a legal exemption such as experimental use or drug discovery/development such as that provided by 35 U.S.C. § 271(e)(1) and similar
provisions in the laws of other jurisdictions) infringe or otherwise be within the scope of at least one Valid Claim in that country, or (b) that [***]. 

1.11 “Licensed Rights” means: (a) the Patent Rights; and (b) all tangible materials within the MSKCC-Provided
Know-How, and all Intellectual Property Rights owned in, to or covering any MSKCC-Provided Know-How, in each case, that are owned or Controlled by MSKCC. 

1.12 “Licensed Service” means: (a) on a country-by-country basis, any service performed for or on behalf of a third party
on a fee-for-service basis or otherwise for consideration, the performance of which in the country in question would (without the license granted under this Agreement, or a legal exemption such as experimental use or drug discovery/development such
as that provided by 35 U.S.C. § 271(e)(1) and similar provisions in the laws of other jurisdictions) infringe or otherwise be within the scope of at least one Valid Claim in that country, or (b) that [***]. 

1.13 “Major Country” means each of [***]. 

1.14 “Manufacturing” (and with correlative meaning, “Manufacture”) means the production of pharmaceutical
products or compounds for clinical trials and commercial use. 
 1.15 “MSKCC-Provided Know-How” means all Know-How,
whether or not patentable, [***], which (a) [***] relate to the Patent Rights, and (b) are necessary or useful for the Development and/or Commercialization of the Patent Rights and/ or Licensed Products and/or Licensed Services.

 1.16 “Net Sales” means the gross amount [***] by LICENSEE or its Affiliates or its Sublicensees for Licensed Products
or for 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; 

  

[***] 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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	(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 LICENSEE or Affiliates; and 

  

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

 Each of (a) through
(d) above being a “Deductible Expense.” 
 No deductions shall be made for [***] Net Sales shall occur on the date of [***] for a Licensed
Product or Licensed Service. 
 Customary distribution of samples of Licensed Product or related performance of Licensed Services by LICENSEE or Affiliates
shall not be included in any calculation of Net Sales. 
 Net Sales of a Combination Product in a country shall be calculated by [***] (as would otherwise
be determined in accordance with the definition of “Net Sales” as set forth in this definition, i.e., without giving effect to this paragraph) by the [***]. By way of example, [***]. By way of further example, [***] 

In the case of discounts on “bundles” of products or services which include Licensed Products and/or Licensed Services, LICENSEE may, with notice to
MSKCC, discount (or permit the discounting by an Affiliate or Sublicensee of LICENSEE) the bona fide list price of any Licensed Product and/or Licensed Service in such “bundle” by the [***]. With each [***] royalty report submitted
pursuant to Section 5.2 below, LICENSEE shall provide MSKCC reasonable documentation establishing such average discount with respect to each “bundle.” If LICENSEE cannot so establish the average discount of a “bundle,” Net
Sales shall be based on the [***] If a the Licensed Product or Licensed Service in a “bundle” is not sold separately, and no bona fide list price exists for such the Licensed Product or Licensed Service, the [***]. 

Except as provided in the preceding paragraph, no deductions, credits, rebates, or allowances shall be taken or permitted in calculating Net Sales that depend
or are based in whole or in part on the sale or purchase of any product or service that is not a Licensed Product or Licensed Service, including without limitation for the practice commonly known as “bundling.” 

1.17 “Other Consideration” shall mean all consideration received by or for the benefit of LICENSEE or its Affiliates from any
transaction or series of transactions that includes a sublicense or other transfer of the licenses and rights granted under this Agreement (“O.C. Event”), including without limitation upfront fees or milestone payments.
However, Other Consideration does not include payments for: [***]. In addition, Other Consideration does not include [***]. 
  

[***] 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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1.18 “Patent Rights” means the following:  
  

	(a)	the United States and foreign patents and patent applications listed in Exhibit A; 

  

	(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 on Exhibit 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) above; 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).

 1.19 “Phase I Trial” means the first phase of a clinical study involving the initial introduction of an
investigational new drug into humans (generally, but not always, in the range of 20 to 30 subjects). Phase I studies are typically closely monitored and may be conducted in patients or normal volunteer subjects. These studies are designed to
determine the metabolism and pharmacologic actions of the drug in humans, the side effects associated with increasing doses, and, if possible, to gain early evidence on effectiveness that provides data capable of meeting statutory standards for
marketing approval. During Phase I, sufficient information about the drug’s pharmacokinetics and pharmacological effects should be obtained to permit the design of well-controlled, scientifically valid, Phase II Trials. For example, “Phase
I Trial” includes a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21(a) in the United States, or an equivalent or counterpart of the foregoing in any other country or jurisdiction. 

1.20 “Phase II Trial” means the second phase of a clinical study, the principal purpose of which is to evaluate the
effectiveness of the drug for a particular indication and to determine the common short term side effects and risks associated with the drug in patients with the disease target being studied, that provides data capable of meeting statutory standards
for marketing approval. Phase II Trials usually involve no more than several hundred subjects. For example, “Phase II Trial” includes a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21(b) in the United
States, or an equivalent or counterpart of the foregoing in any other country or jurisdiction. 

  
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1.21 “Phase III Trial” means the third phase of a clinical study involving expanded controlled and uncontrolled trials. They are
performed after preliminary evidence suggesting effectiveness of the drug has been obtained, and are intended to gather the additional information about effectiveness and safety that is needed to evaluate the overall benefit-risk relationship of the
drug and to provide an adequate basis for physician labeling, to support registration for a product or compound with the FDA and any FDA counterpart, and that provides data capable of meeting statutory standards for marketing approval. Phase III
Trials usually include several hundred to several thousand subjects. For example, in the United States, “Phase III Trial” includes a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21(c) in the United
States, or an equivalent or counterpart of the foregoing in any other country or jurisdiction. 
 1.22 “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). 

1.23 “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. 
 1.24 “Royalty Year”
means each twelve month period commencing on January 1 and ending on December 31 during the term of this Agreement; provided however, that: (a) the first Royalty Year shall be the period of time commencing with the Effective
Date and ending on December 31; and (b) the last Royalty Year shall be the period of time commencing on January 1 of the year in which this Agreement expires or is terminated, and ending on the date of expiration or termination of
this Agreement. 
 1.25 “Sublicensee” means any business entity to which a sublicense has been granted by LICENSEE under the
Licensed Rights, or with respect to the Licensed Products, pursuant to this Agreement. 
 1.26 “Territory” means
worldwide. 
 1.27 “Valid Claim” means a claim of (i) an 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  

  
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pending patent application within the Patent Rights to the extent the claim continues to be prosecuted in good faith for a time period not to exceed [***] years from its earliest asserted
priority filing date. If a claim has been pending for more than [***] from its earliest priority date later issues, it shall be considered a Valid Claim for the entire period it was pending, and the LICENSEE shall then make royalty payments to MSKCC
for the preceding period in which it was not treated as a Valid Claim. 
 ARTICLE II - GRANT 

2.1 License. Subject to the terms and conditions of this Agreement, MSKCC hereby grants to LICENSEE a worldwide license, in the Field of Use,
during the term of the Agreement, including the right to sublicense (subject to Section 2.3 (entitled Sublicensing)), under the Patent Rights and MSKCC’s Intellectual Property Rights in the MSKCC-Provided Know How, to (i) make,
have made, use, import, offer to sell and sell Licensed Products, and to (ii) perform Licensed Services. The foregoing license is (A) exclusive (subject to Sections 2.2 (entitled Reserved Rights) and Schedule C of the Side
Letter Agreement), with respect to the Patent Rights and all tangible materials within the MSKCC-Provided Know-How and MSKCC’s Intellectual Property Rights in the MSKCC-Provided Know How, and (B) non-exclusive with respect to
MSKCC-Provided Know-How and MSKCC’s Intellectual Property Rights in the MSKCC-Provided Know How. 
 2.2 Reserved Rights. The grant in
Section 2.1 (entitled License) is subject to, restricted by and non-exclusive with respect to the following non-transferable rights, all of which are reserved by MSKCC: 

 

	(a)	the use of Patent Rights by MSKCC for its noncommercial research, patient care, teaching, and other educationally related purposes; 

  

	(b)	the use of Patent Rights by the inventors thereof (and their laboratories and collaborators) for noncommercial research purposes, patient care, teaching, and other educationally related purposes; and 

 

	(c)	any rights reserved to the United States of America under 35 U.S.C. §§ 200-212 or any other applicable governmental law or regulation; 

all of the foregoing, the “Reserved Rights.” Additionally, if MSKCC requests that MSKCC or LICENSEE make a grant or transfer of any of the
rights licensed to LICENSEE hereunder to any nonprofit educational or research institutions for their internal, noncommercial research activities, LICENSEE shall consider any such request in good faith; provided LICENSEE may in its discretion,
either consent to or decline such a request. For the avoidance of doubt, LICENSEE concerns, inter alia, regarding the development of patentable inventions by one or more third parties that received such license rights or materials
shall be a reasonable basis for declining such a request by MSKCC. 
  
 [***] 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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2.3 Sublicensing. LICENSEE may grant sublicenses to third parties (each, a “Sublicensee”), provided that each sublicense is in writing
and: 
  

	(a)	LICENSEE, within [***] days of the granting of each sublicense, notifying MSKCC of such grant and the name and address of each such Sublicensee; 

 

	(b)	the sublicense being at royalty rates not less than those required to be paid to MSKCC under this Agreement; 

  

	(c)	the sublicense agreement (i) providing that the rights and/or obligations to MSKCC under [***] of this Agreement are binding upon the Sublicensee as if it were a party to this Agreement, and (ii) including
copies of such Sections or Articles; 

  

	(d)	the sublicense agreement including provisions of the same scope as provided in [***]; 

  

	(e)	the sublicense agreement not containing any provision which would permit it to extend beyond the term of this Agreement with regard to the Patent Rights licensed hereunder; 

 

	(f)	the sublicense agreement may permit the Sublicensee to grant further sublicenses, provided that such further sublicenses are (i) in writing, (ii) consistent with the terms and requirements of this Agreement,
and (iii) include all provisions that LICENSEE is required to include in a sublicense; 

  

	(g)	the sublicense agreement disclaiming all representations, warranties, indemnities and liability on the part of MSKCC; and 

  

	(h)	the sublicense agreement not granting any rights to the Patent Rights and MSKCC-Provided Know How which are inconsistent with the rights granted to, and the obligations of, LICENSEE hereunder. 

2.4 Any act or omission of any Sublicensee which would constitute a breach of this Agreement if performed by LICENSEE shall be deemed to be a breach by
LICENSEE of this Agreement, and MSKCC shall have the right to terminate this Agreement pursuant to Section 13.2.4 (entitled Breach) unless such breach is cured, or the sublicense to the offending Sublicensee is terminated, within the
[***] day notice period set forth therein. 
 2.5 Subcontracting. Any subcontractor engaged by LICENSEE to perform for LICENSEE any of its rights
obligations under this Agreement (a “Third Party Subcontractor”) shall be party to a written agreement consistent with the terms and conditions of this Agreement, including without limitation, and as applicable, those provisions pertaining
to confidentiality, Intellectual Property Rights, GMP, and regulatory/safety matters. In all cases, LICENSEE remains fully responsible (i) for the performance of its obligations hereunder regardless of whether such performance has been
delegated to a Third Party Subcontractor, and (ii) for the actions and conduct of the Third Party Subcontractor in performance of LICENSEE’s obligations. 
  

[***] 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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2.6 Disclaimer. Except for those rights which are expressly granted in this Article II (entitled Grant) with respect to the Licensed Rights,
neither this Agreement nor the parties’ activities relating to this Agreement is intended to or shall be construed to confer or give rise to: (a) any implied license, or other right or forbearance by MSKCC for the benefit of LICENSEE or
any third party with respect to any patent or other intellectual property right owned by MSKCC (even if related to the Licensed Rights) that is not expressly identified in this Agreement; or (b) any estoppel, exhaustion, or waiver, or
acquiescence adverse to MSKCC with regard to the practice of the Licensed Rights outside the Field of Use; in each case, under any legal or equitable theory whatsoever. LICENSEE acknowledges and agrees that: (a) the parties do not intend
there to exist or arise any of the foregoing; (b) LICENSEE has not provided any consideration for any of the foregoing; (c) LICENSEE waives any argument that it is entitled to any of the foregoing; and (d) the practice or utilization
of any Intellectual Property Rights of MSKCC (or its Affiliates) not expressly licensed hereunder would require a separate, royalty-bearing license from MSKCC (or its Affiliates) which it (or they) is (or are) free to grant, or not to grant, at its
(or their) sole discretion. The provisions of this Section 2.6 (entitled Disclaimer) are essential terms of the Agreement, without which MSKCC would not have entered into this Agreement. Notwithstanding the foregoing, any good-faith
dispute between MSKCC and LICENSEE as to whether particular subject matter is within the Licensed Rights and subject to the license granted herein, shall not be a basis for any termination of this Agreement, but shall be resolved pursuant to the
dispute resolution proceedings provided herein. 
 2.7 Delivery. Within [***] days of the Effective Date, MSKCC shall [***] deliver (and shall cause
its personnel to deliver) to LICENSEE copies of all data, reports, analyses and other information within the MSKCC-Provided Know How identified on Exhibit B. If at any time during the Term, [***] identifies particular documents, data or
information that exist are within the MSKCC-Provided Know How and are reasonably available and transferable in a tangible form and that were not previously delivered to LICENSEE, MSKCC shall [***] provide such MSKCC-Provided Know How to LICENSEE,
upon [***]. LICENSEE shall reimburse MSKCC for [***] in complying with this Section 2.53. 
 2.8 Option. MSKCC grants LICENSEE an option to
include as Patent Rights patent applications [***] and [***] and foreign counterparts, and/or any U.S. or ex-U.S. patents issuing directly or indirectly from such applications or the priority documents for such applications. To exercise this option,
LICENSEE must within [***] months of the Effective Date present to MSKCC a plan for development of products described in such applications that includes [***] and other conventional terms that are acceptable to MSKCC in the exercise of its
reasonable judgment. If exercised, such products will be included in this Agreement and no additional royalties or payments (beyond what is provided for Licensed Product) will be required of LICENSEE. If not exercised, then LICENSEE shall have no
rights in or to such applications and they will not be part of the Patent Rights. 
  

[***] 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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ARTICLE III - CONDUCT OF THE ACTIVITIES 
 3.1
Diligence. LICENSEE shall use commercially reasonable efforts (and in any event no less than the efforts and resources normally used by a similarly situated entity relating to similarly situated product), at its own expense, to:
(a) Develop, Manufacture and Commercialize Licensed Products and Licensed Services; and (b) thereafter continue marketing such Licensed Products and Licensed Services throughout the life of this Agreement. In particular, LICENSEE shall:

  

	(a)	Expend at least [***] dollars [***] on the conduct of a [***]. 

  

	(b)	Commit to conduct a study to [***]. 

  

	(c)	Commit to expend at least [***] dollars [***] on a [***]. 

  

	(d)	Expend at least [***] dollars [***] on the development of products (which may or may not be Licensed Products) based on or relating to [***]. 

LICENSEE may accomplish such milestones itself or through its Affiliates or Sublicensees. 

3.2 Business Update. During the term of this Agreement, until the commencement of [***] LICENSEE shall deliver to MSKCC prior to [***] any update of
LICENSEE’s activities with regard to the Development and, if applicable, Commercialization of Licensed Products. 
 3.3 Timetables and Project
Meetings. The parties shall conduct periodic review meetings (which may be in person, by telephone, or by other means): (a) pursuant to any schedule established in the Business Plan; or (b) absent such a schedule, on at least a [***]
basis; or (c) otherwise at the request of [***]. In the event that LICENSEE ceases development, manufacturing or commercialization of a Licensed Product, LICENSEE promptly shall give MSKCC written notice of such cessation. 

3.4 Regulatory and Safety Matters. 
  

	(a)	Clinical Trials. LICENSEE shall conduct such clinical trials (including without limitation, Phase I Trials, Phase II Trials, and/or Phase III Trials) as LICENSEE deems are desirable or necessary for
Commercialization of the Licensed Products. Any clinical trials conducted by or on behalf of LICENSEE at MSKCC shall be mutually agreed by LICENSEE and MSKCC. 

  

[***] 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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	(b)	Approvals. LICENSEE shall diligently take all reasonable steps to secure all required and/or necessary Regulatory Approvals to develop, test, market, commercialize and otherwise bring to market Licensed Products
and/or Licensed Services; and (ii) keep MSKCC informed of LICENSEE’S plans for obtaining, and the status of, such approvals. At the request of LICENSEE, and if necessary, MSKCC will assist LICENSEE in obtaining such Regulatory Approvals at
no charge to LICENSEE, except for [***] incurred by MSKCC in assisting LICENSEE to obtain such approvals. 

  

	(c)	Regulatory Inquiries & Inspections. If LICENSEE is the subject of an inquiry or inspection by a governmental authority or certification agency in relation to any Licensed Product, LICENSEE will notify
MSKCC as soon as reasonably possible and keep MSKCC reasonably apprized of the results of such inspection. 

  

	(d)	Compliance with Law & Regulations. LICENSEE shall (i) conduct all activities in relation to clinical trials in full compliance with governing law, regulations, and generally accepted standards, and
(ii) take all necessary actions to prevent, and to timely correct upon discovery if not prevented, the participation of a person who has been debarred from participating in clinical trials or other activities that are prohibited to persons who
have been debarred. 

 3.5 Insurance. Prior to the commencement of First Commercial Sale of any Licensed Product or Licensed
Process, LICENSEE shall obtain and continuously carry in full force and effect, throughout the term of this Agreement (and any sell-off period pursuant to Section 13.4 (entitled Product Sell Off)), general liability insurance which shall
protect LICENSEE and MSKCC in regard to events covered by Section 8.1 (entitled Indemnification) above and otherwise meeting the requirements of this Section. Such insurance shall: (a) be written by an insurer rated at least [***]
by A.M. Best; (b) list MSKCC as an additional named insured thereunder; (c) be endorsed to include liability coverage; (d) require [***] days written notice to be given to MSKCC prior to any cancellation or material change thereof;
and (d) have limits of not less than [***]. At MSKCC’s request, LICENSEE shall provide MSKCC with Certificates of Insurance evidencing the foregoing. 

ARTICLE IV - PAYMENTS 
 4.1 License
Execution Fee. Within [***] days following the Effective Date of this Agreement, LICENSEE will pay MSKCC a license execution fee of six million nine hundred thousand dollars ($6,900,000). 

4.2 Royalty Payments. 
 4.2.1 Running Royalty.
Subject to the provisions in this Section 4.2, LICENSEE shall pay to MSKCC a running royalty equal to [***] percent ([***]%) of worldwide, annual Net Sales of Licensed Products or the performance of Licensed Services by LICENSEE or its
Affiliates or Sublicensees. Such royalties shall be payable each [***] and shall be due to MSKCC within [***] days of the end of each [***]. 
  

[***] 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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4.2.2 Royalty for Know-How Rights Alone in Licensed Products and Services. In consideration for rights to Know-How under the Agreement, royalties
achieved for Licensed Products and/or Licensed Services that are not covered by a Valid Claim in a country where Licensed Products and/or Licensed Services are Manufactured or Commercialized or shall be reduced by [***] percent ([***]%) of what
would be due to MSKCC otherwise under Section 4.2.1, for a royalty rate of [***] percent ([***]%). 
 4.2.3 Royalty if First CAR Product is Not a
Licensed Product. Notwithstanding the above, if the first product commercialized by LICENSEE that includes a chimeric antigen receptor T cell (CAR) is not a Licensed Product, LICENSEE will also pay to MSKCC a running royalty of [***] percent
([***]%) of worldwide Net Sales of such product for a period of 10 years from First Commercial Sale. 
 4.2.4 Offset for Third Party Licenses. If
LICENSEE makes payments to one or more non-Affiliate third parties for intellectual property or technology in order to make, use, or sell any Licensed Product or perform Licensed Services, LICENSEE may offset on a country-by-country basis [***] per
cent ([***]%) of such third-party payments against any royalty payments that are due to MSKCC under Sections 4.2.1 and 4.2.2 above, provided however, that the royalty payments to MSKCC shall not be reduced to a rate of less than [***]% under
Section 4.2.1 or [***]% under Section 4.2.2 in any year unless the aggregate royalty obligation due to third parties by the LICENSEE equals or exceeds [***] in any given country, in which case the royalties payable to MSKCC shall not be
reduced to a rate of less than [***]% under Section 4.2.1 or Section 4.2.2. Any third party payments that are not applied as royalty offsets in a given year may be carried forward and applied as an offset for up to [***] from the date of
payment to the applicable third party. 
 4.2.5 No Multiple Royalties. If a Licensed Product or Licensed Service is covered by more than one claim of
any patent or patent application within the Patent Rights, no multiple royalties shall be due. 
 4.2.6 Royalty Structure is for Parties’
Convenience. The Parties agree that the fee structure in this Agreement has been agreed as a mutually preferable accounting convenience for the mutual benefit of the Parties to minimize or avoid the burden and expense of having to track (by
territory and over time) the extent to which any particular individual product is subject to each of the Patent Rights, which would require tracking the lifecycle of each such individual product through multi-tiered marketing and distribution
channels (e.g., from manufacturers to distributors to purchasers to ultimate end users) as well as differing patent expiration dates in the countries in which the product was made, sold, imported or used. Thus, the fee structure in this Agreement
represents a blended rate (rather than a per-unit/per-patent royalty) that are intended to produce a comparable and mutually-acceptable overall payment as if per-unit/per-patent royalties had been used. 

4.3 Minimum Royalties. Commencing on the fifth anniversary of the license, LICENSEE shall pay to MSKCC minimum annual royalties of one hundred thousand
dollars ($100,000) per year until the expiration of the last-to-expire Valid Claim in the Territory. Minimum annual royalties shall be nonrefundable but fully creditable against running royalties due on Net Sales, and may be carried forward until
such credit is fully applied 
  
 [***] 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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4.4 Royalty Term. On a Licensed Product-by-Licensed Product and/or Licensed Service-by-Licensed Service basis, and on a country-by-country basis, the
period from the First Commercial Sale of such Licensed Product or Licensed Service in such country until the later of: 
  

	(a)	expiration of the last Valid Claim within the Patent Rights covering such Licensed Product and/or Licensed Service in such country; 

  

	(b)	expiration of any market exclusivity period granted by a Regulatory Agency with respect to such a Licensed Product and/or Licensed Service in such country; 

 

	(c)	ten (10) years from the First Commercial Sale of the first Licensed Product and/or Licensed Process in such country; or 

  

	(d)	ten (10) years from the First Commercial Sale of the first Licensed Product and/ or Licensed Service in such country, where such Licensed Product and/ or Licensed Service are not and were never
covered by a Valid Claim in such country. 

  

	4.5	Sharing of Other Consideration. LICENSEE shall pay to MSKCC a portion of Other Consideration, as follows: 

4.5.1 If on or before [***] anniversary of the Effective Date, LICENSEE obtains Other Consideration with respect to a grant of the Patent Rights only (i.e., no
other Intellectual Property Rights or technology Controlled by the LICENSEE are licensed to the Sublicensee), then the portion shall be [***] percent ([***]%). 

4.5.2 To the extent not within the scope of 4.5.1, if on or before the earlier of (a) the [***] anniversary of the Effective Date; or (b) a
commitment by LICENSEE to expend at least [***] on the Development of Licensed Products, then the portion shall be [***] percent ([***]%). 
 4.5.3 To the
extent not within the scope of 4.5.1 or 4.5.2, if on or before the earlier of (a) the [***] anniversary of the Effective Date; (b) a commitment by LICENSEE to expend at least [***] on the Development of Licensed Products;
(c) completion of the [***] or (d) commencement of a [***] by LICENSEE [***] then the portion shall be [***] percent ([***]%). 
 4.5.4 Other
Consideration. To the extent that any O.C. Event includes the sublicense or transfer of Intellectual Property Rights other than the licenses and rights granted under this Agreement, the Other Consideration amount subject to division with MSKCC
shall be determined by [***] in good faith by allocating the total amount between (i) the licenses and rights granted under this Agreement, and (ii) such other Intellectual Property Rights. LICENSEE shall make available to MSKCC under
terms of confidentiality, any documents and models then in LICENSEE’s possession reasonably requested by MSKCC for the purpose of determining such allocation; provided LICENSEE shall not be obligated to create or prepare any documents that do
not then exist to respond to any such request. If [***] 
  
 [***] 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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4.6 Development Milestone Payments. Within [***] days of the occurrence of any of the following milestones, LICENSEE shall notify MSKCC of such
milestone and pay to MSKCC the applicable milestone payment: 
  

	(a)	A payment of [***] dollars ($[***]) for successful completion of a [***] for each Licensed Product. For clarity, for a single Licensed Product, this Development Milestone will be paid for [***] reaching a maximum total
of [***] dollars ($[***]) for any one Licensed Product. 

  

	(b)	A payment of [***] dollars ($[***]) for successful completion of a [***] for each Licensed Product. For clarity, for a single Licensed Product, this Development Milestone will be paid for [***] reaching a maximum total
of [***] dollars ($[***]) for any one Licensed Product. 

  

	(c)	A payment of [***] dollars ($[***]) for a [***] for the [***] for a Licensed Product. 

  

	(d)	Subject to the $[***] milestone cap in Section 4.6(g) below, a payment of two million dollars ($[***]) for a [***] 

  

	(e)	Subject to the $[***] milestone cap in Section 4.6(g) below, a payment of two million dollars ($[***]) for a [***] for such Licensed Product. 

 

	(f)	Subject to the $[***] milestone cap in Section 4.6(g) below, a payment of [***] dollars ($[***]) for a [***] for a Licensed Product. 

 

	(g)	For clarity, notwithstanding Sections 4.6(d), (e) and (f) above, for a particular Licensed Product, no more than a maximum of [***] dollars ($[***]) will be payable for [***] of such Licensed Product,
regardless of [***] 

 LICENSEE shall pay such milestone payments whether they are reached by LICENSEE, by a third party on behalf of
LICENSEE, or by a Sublicensee. 
 4.7 Other Payments. LICENSEE shall also pay to MSKCC any other amounts contemplated by this Agreement (e.g., patent
costs), in the manner contemplated hereby. 
 4.8 Timing. Unless otherwise specified: (a) running royalty amounts owed will accrue on a [***]
basis, and payments therefore will be made by LICENSEE to MSKCC within [***] days after [***] (b) after termination or expiration of the Agreement, an additional payment will be made by LICENSEE covering the final [***] (or portion thereof)
prior to such expiration or termination; and (c) each [***] payment will be accompanied by a written statement of Net Sales during such [***], as set forth in Section 5.2 (entitled [***] Reports). 

 
 [***] 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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4.9 Currency. All monetary payments shall be paid in United States dollars (“USD”). If any currency conversion is required in
connection with payments hereunder, such conversion shall be made by using the buying exchange rate prevailing at JP Morgan Chase Bank or its successor entity on the close of the [***] For purposes of clarification, sales made in USD may not be
converted to the currency of the LICENSEE’S domiciled country and then reconverted to USD [***]. 
 4.10 Taxes. Payments shall be made in full,
without deduction or withholding for wire transfer fees or currency exchange fees. The parties will cooperate to prevent or minimize the need for any withholding, and at the request of LICENSEE, MSKCC will provide LICENSEE with documents evidencing
its tax status in the United States. 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 MSKCC evidence of any such taxes withheld and of payment thereof, and MSKCC shall use its best efforts to obtain the release of any such
withheld amounts from the taxing authority. At MSKCC’s request, LICENSEE shall provide MSKCC with reasonable assistance to release the withheld amount to MSKCC. If the full withheld amount is not released to MSKCC within [***] months of the
payment date, then [***] the amount that is still withheld, and entitlement to receive such withheld amount from the pertinent taxing authority shall be [***] in a form reasonably acceptable to LICENSEE. For clarity, the foregoing applies to
withholdings only, and does not require LICENSEE to pay (or increase payment to MSKCC to compensate for) any taxes that MSKCC may be required to pay under applicable law. 

4.11 Interest. LICENSEE shall pay to MSKCC interest on any amounts not paid when due. Such interest will accrue from the [***] day after the payment was
due, at a rate of [***]% per month or the highest rate permitted by law (whichever is less), and shall be compounded monthly. The interest payment will be due and payable on the [***] after interest begins to accrue, until full payment of all
amounts due MSKCC is made. MSKCC’s rights to receive such interest payments shall be in addition to any other rights and remedies available to MSKCC. 

4.12 Method of Payment. Payments may be made by check or wire transfer. Checks shall be: (a) made payable to Sloan-Kettering Institute for Cancer
Research (Tax I.D. No. [***]); (b) attached to the corresponding invoice (if any); (c) accompanied with an note (on the check stub or on its transmittal letter) that the payment relates to Agreement SK2013-1654; and (d) sent to
MSKCC’s lock-box: 
 Memorial Sloan-Kettering Cancer Center 

P. O. Box 29035 
 New York, NY
10087-9035 
  
 [***] 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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Wire transfers shall be made as follows: 
  

			
	Bank Name:	  	JP Morgan Chase & Co.
		
	Name on Account:	  	MSKCC- Acct Rec EFTS
		
	Account Type:	  	Checking
		
	Account Number:	  	[***]
		
	Routing Number:	  	[***]
		
	SWIFT Code:	  	[***]

 MSKCC may designate another place and method of payment, for any or all fees due under this Agreement, upon written
notice to LICENSEE. 
 4.13 Payments [***]. Notwithstanding anything to the contrary, all payments made by LICENSEE under this Agreement are [***].

 ARTICLE V - RECORDS, REPORTS, AND INSPECTION 

5.1 Generally. LICENSEE shall keep, and shall require its Sublicensees to keep, accurate books of account containing all particulars of any activities
or information that may be necessary or useful for the purpose of evidencing LICENSEE’s compliance with its obligations (including, without limitation, in relation to all amounts payable to MSKCC) hereunder. Said books and records shall be
maintained for a period of no less than [***] following the period to which they pertain. Upon reasonable written notice, and not more than [***] during each calendar year, LICENSEE shall allow MSKCC or its agents to inspect and/or audit its books
and records for the purpose of verifying royalty statements or compliance in other respects with this Agreement. Such inspections and/or audits shall be during normal working hours of LICENSEE. Should such inspection and/or audit lead to the
discovery of a discrepancy, during any Royalty Year, of greater than [***] percent ([***]%) in underreporting or in underpayment, then LICENSEE shall pay the [***], plus interest as set forth in Section 4.11 (entitled Interest). 

5.2 [***] Reports. LICENSEE, within [***] days after [***] shall deliver to MSKCC complete and accurate reports, giving such particulars of the business
conducted by LICENSEE during the preceding [***] period under this Agreement as would be pertinent to a royalty accounting hereunder (regardless of whether such a royalty accounting was actually conducted). 

 
 [***] 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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These shall include at least the following information, to be [***]: 
  

	(a)	[***]; 

  

	(b)	[***]; 

  

	(c)	[***]; 

  

	(d)	[***]; 

  

	(e)	[***]; 

  

	(f)	[***]; 

  

	(g)	[***]; 

  

	(h)	[***]; and 

  

	(i)	[***]. 

 If no royalties are due, LICENSEE shall so report. 

In addition, LICENSEE shall also submit [***] a detailed report summarizing LICENSEE’s research, Development, Commercialization and other business
progress during the prior [***], and its projections of activity anticipated for the next [***]. Once Regulatory Approval is obtained for a Licensed Product or Licensed Service in the United States, such reports shall be submitted [***] instead of
[***]. 
 5.3 Sublicensee Reports. LICENSEE agrees to require its Sublicensees within [***] days after [***] to deliver to LICENSEE complete and
accurate reports, giving such particulars of the business conducted by Sublicensee as would be required under Section 5.2 (entitled [***] Reports) of this Agreement if the business were conducted by LICENSEE. LICENSEE shall forward to
MSKCC a copy of any and all such reports received by LICENSEE from its sublicensees. 
 ARTICLE VI - PATENT PROSECUTION 

6.1 Patent Cost Reimbursement. LICENSEE shall pay during the term of the Agreement [***] borne by MSKCC for [***] reasonably acceptable to LICENSEE.
LICENSEE to reimburse MSKCC for [***]. This [***] amount shall not exceed [***] dollars ($[***]). 
 6.2 Patent Prosecution. 

6.2.1 MSKCC shall have all responsibility for the filing, prosecution, protection (subject to Article 7) and maintenance of the Patent Rights. MSKCC shall use
good faith, reasonable efforts (consistent with MSKCC’s customary practices) to diligently and timely prosecute and maintain the Patent Rights in the United States, and in such other countries as are designated by LICENSEE, using counsel of
MSKCC’s choice reasonably acceptable to LICENSEE. 
  
 [***] 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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6.2.2 At any time, LICENSEE shall notify MSKCC if LICENSEE wishes to terminate its license to any of the patent applications or patents within the Patent
Rights. LICENSEE shall identify such patent applications and patents to MSKCC in writing, in which event, [***] days’ after receipt of such written notice by MSKCC, (a) [***] and (b) LICENSEE shall have no further obligation to pay
any costs and expenses incurred by MSKCC for the prosecution and maintenance of such identified patents and patent applications. For the avoidance of doubt, MSKCC may independently, and at its own expense, maintain any such patent applications and
patents after such a termination by LICENSEE, and LICENSEE [***]. 
 6.3 Patent Documentation. MSKCC shall keep LICENSEE reasonably informed regarding
matters related to the prosecution and maintenance of each patent or patent application within the licensed Patent Rights 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 Patent Rights so that LICENSEE may remain informed with respect thereto; and (b) give LICENSEE (and its Sublicensees)
reasonable opportunity to consult with MSKCC (or its external patent counsel) regarding such filing, prosecution, maintenance and to comment on all relevant matters related to prosecution of the Patent Rights, including review of draft responses
prior to filing with Patent Offices. All comments by LICENSEE (and its Sublicensees) shall be [***] 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 IX (entitled Confidentiality), without regard to any marking or legending requirements thereof, but subject to the exceptions to confidentiality set forth therein. 

6.4 Patent Term Extension. LICENSEE (and its Sublicensees) shall have the right, on a Licensed Product-by-Licensed Product basis, to select a patent
within the Patent Rights 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 [***] before applying for a patent term extension or supplementary protection certificate for any Licensed Product. 

6.5 Notification of Patent Certification. Each party shall [***] regarding invalidity, unenforceability or non-infringement of any of the Patent Rights.
These may include allegations and/or certifications pursuant to a Paragraph IV Patent Certification by a third party filing an Abbreviated New Drug Application, an application under §505(b)(2) or other similar patent certification by a third
party, or any foreign equivalent thereof. [***]. 
 ARTICLE VII - LEGAL PROCEEDINGS 

7.1 Monitoring. LICENSEE shall use commercially reasonable efforts to monitor third party infringement of the Patent Rights in the Field of Use. [***].

  
 [***] 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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7.2 Actions. This Section sets forth the parties’ right of enforcement and defense in relation to the Patent Rights. 

 

	(a)	First Right. LICENSEE (and its Sublicensees) shall have the first right, but not the obligation, to control the conduct and resolution of any adversarial legal proceeding relating to the Patent Rights (including
without limitation any declaratory judgment action, patent infringement action or opposition) during the Term and will be responsible for all expenses related thereto. MSKCC shall join in any such action, at LICENSEE’s request and expense.

  

	(b)	Secondary Right. If LICENSEE does not wish to exercise either of the foregoing rights in (a)(i) or (a)(ii), LICENSEE shall provide MSKCC with written notice that LICENSEE declines such right, and after receiving
such notice, MSKCC shall have the secondary right to undertake such infringement action or defend against such challenge. 

 7.3
Cooperation. To the extent either party (or its Sublicensees) conducts any legal proceedings in relation to the enforcement or defense of Patent Rights in the Field of Use, it shall keep the other party reasonably informed of such
proceedings. The other party shall cooperate in all respects and, to the extent reasonably possible, have its employees testify when requested and make available relevant records, papers, information, samples, specimens, and the like at the expense
of the requesting party. Notwithstanding anything to the contrary: (a) in any action conducted by MSKCC, MSKCC may [***] and [***] (b) in any action conducted by LICENSEE, LICENSEE may affect joinder of MSKCC, if MSKCC is an indispensible
or necessary party under the applicable law; and MSKCC agrees not to oppose such joinder, and (c) no settlement, consent judgment or other voluntary final disposition of any action by LICENSEE that admits or impairs the invalidity or
unenforceability of the Patent Rights may be entered into without the prior written consent of MSKCC, which consent shall not unreasonably be withheld. 

7.4 Costs and Recoveries. All costs of any action by either party to enforce, or to defend against a challenge to, the Patent Rights shall be borne by
[***] any sums recovered or obtained in connection therewith (whether as damages, reasonable royalties, license fees, or otherwise in judgment or settlement derived therefrom), except that in the case of actions commenced by LICENSEE, the excess of
such sums over [***]. For the avoidance of doubt, LICENSEE may not [***]. 
 7.5 Third Party Patents. In the event LICENSEE is sued for patent
infringement or, threatened with such suit, it shall promptly notify MSKCC. If LICENSEE is enjoined from exercising its license rights granted hereunder LICENSEE may terminate this Agreement upon [***] days prior written notice to MSKCC. In any such
action, LICENSEE shall be fully responsible for all its costs, including expenses, judgments and settlements. 
  

[***] 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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7.6 Patent Challenges by LICENSEE. LICENSEE will [***] to LICENSEE or any of its Affiliates bringing any legal proceeding to challenge the validity or
enforceability any claim included in the Patent Rights (a “Patent Challenge”), including: [***]. In the event that LICENSEE brings a Patent Challenge: (i) MSKCC may at any time thereafter terminate this Agreement upon
written notice to LICENSEE; (ii) during pendency of the Patent Challenge, all license fees, milestone payments and royalties due under this Agreement will be [***] and (iii) in the event of an Unsuccessful Patent Challenge by LICENSEE,
(A) LICENSEE shall [***] and (B) starting on the date (if at all) that the Patent Challenge is determined to be Unsuccessful, all license fees, milestone payments and royalty rates due as per this Agreement will be [***]. As used herein,
“Unsuccessful” means that, upon the conclusion of the action before the court or other governmental authority in which the Patent Challenge was brought, LICENSEE failed to obtain a judgment that all of the patent claims within the
Patent Challenge were invalid or unenforceable. 
 ARTICLE VIII - INDEMNIFICATION; REPS AND WARRANTIES; DISCLAIMER 

8.1 Indemnification by LICENSEE. LICENSEE shall at all times during the term of this Agreement and thereafter, indemnify, defend and hold MSKCC and its
Affiliates, and its/their Board of Managers, officers and employees, harmless against all any and all claims, losses, liabilities, damages, judgments, penalties, settlements, expenses and costs, including without limitation attorneys fees,
professional fees and court costs, whether actual or threatened, brought by third parties arising out of or related to: [***] except to the extent resulting from any claim that the [***]. 

8.2 Indemnification by MSKCC. MSKCC shall at all times during the term of this Agreement and thereafter, indemnify, defend and hold LICENSEE and its
Affiliates, and its/their Board of Managers, officers and employees, harmless against all any and all claims, losses, liabilities, damages, judgments, penalties, settlements, expenses and costs, including without limitation, attorneys fees,
professional fees and court costs, whether actual or threatened, brought by third parties arising out of or related to [***] provided that the amount of indemnification shall not exceed [***]. 

8.3 Representations and Warranties by MSKCC; MSKCC Covenant. MSKCC represents and warrants as of the Effective Date that: (a) that the execution,
delivery and performance of this Agreement have been duly authorized by all necessary corporate action on the part of MSKCC; and (b) MSKCC is the sole owner of the Patent Rights and MSKCC-Provided Know-How and has the right to enter into and
bind itself to this Agreement. MSKCC represents and warrants that as of the effective date of the Side Letter Agreement dated November 20, 2013 that: (c) except as provided for in Section 2.2 or identified in the Side Letter
Agreement, it has not granted any rights in the Patent Rights or MSKCC-Provided Know-How to any third party in the Field of Use in the Territory, inconsistent with the rights granted to LICENSEE under this Agreement; and (d) except as
identified in the Side Letter Agreement there are no actions, suits, investigations, claims or proceedings involving MSKCC and relating to any of the Rights pending or threatened in writing to MSKCC, and (e) with the exception of patent 

 
 [***] 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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applications directed to [***] Exhibit A contains a complete list of all current patent applications and patents owned (in whole and in part) by MSKCC as of the Effective Date claiming
[***]. For the avoidance of doubt, the previous representation and warranty (e) excludes patent applications [***] and any U.S. or ex-U.S. patents issuing directly or indirectly from such applications or the priority documents for such
applications. MSKCC hereby covenants that it will not grant during the term of this Agreement any right, license or interest in the Rights, or any portion thereof, inconsistent with the license granted to LICENSEE herein. 

8.4 Representations and Warranties by LICENSEE. LICENSEE represents and warrants as of the Effective Date that: (a) LICENSEE has the full power and
authority to enter into this Agreement and to perform its obligations hereunder; and (b) LICENSEE is not (and will not be) a party to any agreement or instrument which would be in conflict with its obligations to MSKCC under this Agreement.
LICENSEE hereby covenants that it will not during the term of this Agreement enter into any agreement inconsistent with its obligations to MSKCC herein. 

8.5 Disclaimer; Limitation on Liability. Except as otherwise expressly set forth in this Agreement, MSKCC MAKES NO REPRESENTATIONS AND EXTENDS NO
WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, [***]. EXCEPT FOR [***] IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT,
SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO LOSS OF ANTICIPATED PROFIT OR OTHER ECONOMIC BENEFIT, FROM ITS PERFORMANCE OR NONPERFORMANCE OF ITS OBLIGATIONS UNDER THIS
AGREEMENT, ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ITS SUBJECT MATTER, REGARDLESS OF WHETHER THE OTHER PARTY KNOWS OR SHOULD KNOW OF THE POSSIBILITY OF SUCH DAMAGES. 

ARTICLE IX - CONFIDENTIALITY 
 9.1
Generally. A party receiving Confidential Information (“Receiving Party”) of the other party (“Disclosing Party”) agrees during the term of this Agreement and all times thereafter: 

 

	(a)	to hold the Confidential Information of the Disclosing Party in trust and strictest confidence, and to not use the Confidential Information of the Disclosing Party, except as permitted in this Agreement;

  

	(b)	to reproduce the Confidential Information of the Disclosing Party only to the extent reasonably required to fulfill the Receiving Party’s obligations hereunder; and 

 

	(c)	not to disclose, deliver, provide, disseminate or otherwise make available, directly or indirectly, any Confidential Information of the Disclosing Party to any third party without first obtaining the Disclosing
Party’s express written consent on a case-by-case basis. 

  

[***] 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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 A Receiving Party shall disclose the Confidential Information of the Disclosing Party only to such employees
who have a need to know such Confidential Information, except that MSKCC may disclose Confidential Information to its employees and its Affiliates’ employees who have such a need to know. A Receiving Party shall take at least the same degree of
care that it uses to protect its own most highly confidential and proprietary information of similar nature and importance (but in no event less than reasonable care) to protect the confidentiality and avoid the unauthorized use, disclosure,
publication or dissemination of the Confidential Information of the Disclosing Party. 
 9.2 Exclusions. The foregoing obligations in Section 9.1
(entitled Confidentiality—Generally) shall not apply to any Confidential Information of the Disclosing Party to the extent the Receiving Party can prove such Confidential Information: 

 

	(a)	was publicly known and generally available in the public domain prior to the time of disclosure by the Disclosing Party; 

  

	(b)	becomes publicly known and generally available in the public domain through no act or omission of the Receiving Party; 

  

	(c)	was rightfully known by the Receiving Party, without restriction, prior to the time of first disclosure by the Disclosing Party; 

  

	(d)	was independently developed by the Receiving Party without the use of the Confidential Information; or 

  

	(e)	was rightfully obtained by the Receiving Party, without restriction, from a third party who has the right to make such disclosure and without breach of any duty of confidentiality to the Disclosing Party;

  

	(f)	is subsequently received by the Receiving Party in good faith from a third party without obligation of confidentiality and without improper means. 

In addition, a Receiving Party may disclose Confidential Information of the Disclosing Party to the extent such party is required by law to disclose such
Confidential Information, provided that the Receiving Party shall first give reasonable advance notice of such compelled disclosure to the Disclosing Party, and shall cooperate with the Disclosing Party in connection with any efforts to prevent or
limit the scope of such disclosure and/or use of such Confidential Information. LICENSEE may use and disclose any Confidential Information of MSKCC in connection with the practice of the license and rights granted to LICENSEE in this Agreement,
including without limitation, discussions with actual and potential sublicensees, sources of financing for the activities to be conducted under this Agreement and /or acquirers or other business partners; provided that any such disclosure of MSKCC
Confidential Information is made under conditions at least as restrictive as those provided in this Article IX. 

  
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ARTICLE X - EXPORT CONTROLS 

It is understood that MSKCC is subject to United States laws and regulations controlling the export of technical data, computer software,
laboratory prototypes and other commodities (including the Arms Export Control Act, as amended and the Export Administration Act of 1979), and that its obligations hereunder are contingent on compliance with applicable United States export laws and
regulations. The transfer of certain technical data and commodities may require a license from the relevant agency of the United States Government and/or written assurances by LICENSEE that LICENSEE shall not export data or commodities to certain
foreign countries without prior approval of such agency. MSKCC neither represents that a license shall not be required nor that, if required, it shall be issued. 

ARTICLE XI - NON-USE OF NAMES 

Neither party shall not use the name of the other party, nor any of their employees, nor any adaptation thereof, in any press release,
advertising, promotional or sales literature without prior written consent obtained from the other party in each case. During and after the term of this Agreement, neither party shall not utilize or register any trademark, service mark, tradename,
or other trade identifier of the other party, or that contains (in whole or in part) or is confusingly similar to the foregoing, or is a translation of any of the foregoing, without the prior express written consent of the other party.
Notwithstanding the above, each party may freely disclose in the ordinary course of business (but not in a press release, except with prior approval) that it has entered into this Agreement. 

ARTICLE XII - PUBLICATION 

MSKCC reserves the right to publish the scientific findings from research related to Licensed Rights and clinical use of Licensed Products and
Licensed Services. If any proposed publication (e.g., manuscript, abstract or other public disclosure), contains Confidential Information of LICENSEE or its Affiliates or Sublicensees, MSKCC will submit the abstract or manuscript to LICENSEE at
least [***] calendar days before public disclosure thereof, and LICENSEE shall have the right to review and comment upon the proposed public disclosure in order to protect such Confidential Information and the patentability of any inventions
disclosed therein. Upon LICENSEE’s request, public disclosure shall be delayed up to [***] additional calendar days to enable LICENSEE to secure adequate intellectual property protection of any patentable subject matter contained therein that
would otherwise be affected by the publication, and to have such Confidential Information deleted from such disclosure. 
  

[***] 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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 ARTICLE XIII - TERM AND TERMINATION 

13.1 Term. This Agreement commences on the Effective Date and shall remain in effect, on a country-by-country and Licensed Product-by-Licensed Product
basis until the end of the Royalty Term, as provided in Section 4.4 (entitled Royalty Term). After the expiration of the Agreement in any country for a particular Licensed Product, LICENSEE shall retain a non-exclusive, royalty free
license in such country to MSKCC-Provided Know-How necessary or useful for the Manufacture or Commercialization of such Licensed Product. 
 13.2
Termination by MSKCC. Any termination shall be of this Agreement in its entirety. 
 13.2.1 Bankruptcy or Cessation/Enjoinder of Business.
MSKCC may terminate this Agreement upon written notice to LICENSEE if: (a) LICENSEE becomes insolvent; (b) a petition in bankruptcy is filed against LICENSEE and is consented to, acquiesced in or remains undismissed for thirty
(30) days; (c) LICENSEE or makes a general assignment for the benefit of creditors, or a receiver is appointed for LICENSEE, and LICENSEE does not return to solvency before the expiration of a thirty (30) day period; (d) LICENSEE
ceases to do business; or (e) if the enactment of any law, decree, or regulation, or the issuance of any order (including, but not limited to, an injunction), by any governmental authority renders it impracticable or impossible for LICENSEE to
perform any of its obligations hereunder. 
 13.2.2 Nonpayment. If LICENSEE fails to pay MSKCC license fees, royalties and patent expenses or other
amounts payable hereunder, and such payments remain past due for more than thirty (30) days, and LICENSEE fails to pay any amounts that are not the subject of a good-faith dispute, MSKCC shall have the right to terminate this Agreement on
thirty (30) days written notice, unless LICENSEE pays to MSKCC within the thirty (30) day notice period, all license fees, royalties and patent expenses, together with any interest due and payable thereon, that are not the subject of such
good-faith dispute. 
 13.2.3 Criminal Activity. MSKCC may terminate this Agreement upon written notice to LICENSEE if LICENSEE is convicted in a
final judgment of a felony relating to the manufacture, use, or sale of Licensed Products in any jurisdiction where LICENSEE manufactures, uses or sells Licensed Products; provided, no such termination may be made until any appeal(s) of such
conviction are exhausted and only then if such conviction is not reversed. 
 13.2.4 Breach. In addition to any other termination right specified in
this Agreement, MSKCC may terminate this Agreement upon ninety (90) days’ written notice to LICENSEE, if LICENSEE materially breaches a provision of this Agreement, unless: 

 

	(a)	LICENSEE cures any such breach prior to the expiration of the ninety (90) day period; or 

  
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	(b)	LICENSEE has taken reasonable steps to cure such breach prior to the expiration of the ninety (90) day period and demonstrated to MSKCC’s reasonable satisfaction that such breach is likely to be cured within a
reasonable time thereafter. 

  

	(c)	before the end of the ninety (90) calendar day cure period, LICENSEE notifies MSKCC that it has failed to achieve any of the milestones described in Section 3.1(a) within the timeframes specified due to causes
that are beyond the reasonable control of LICENSEE (e.g., regulatory action or delay, low patient enrollment, force majeure, and/or delays caused by MSKCC) notwithstanding LICENSEE’s reasonable, good faith efforts to achieve those milestones,
then LICENSEE 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
LICENSEE’s control as long as LICENSEE diligently and continuously pursues the achievement of such milestones, but in no event shall such extension be longer than [***]. 

13.3 Termination by LICENSEE. LICENSEE may terminate this Agreement in its entirety without cause on thirty (30) days notice to MSKCC; provided,
however, once the Commercialization of Licensed Products has commenced, LICENSEE may only terminate this Agreement with such notice if LICENSEE has determined that it will cease all Development and Commercialization of Licensed Products or Licensed
Services. 
 13.4 Product Sell Off. In the event of expiration (but not termination) of this Agreement, LICENSEE and its Sublicensees shall have the
right for [***] months thereafter to dispose of all Licensed Products then in its inventory, contingent upon LICENSEE: (a) providing to MSKCC an inventory identifying the volumes of Licensed Products on hand that were manufactured prior to the
termination date, certified and signed by an officer of the Company; and (b) continuing to submit all reports and make all payments (including, without limitation, royalties) that would have been required in accordance with this Agreement, if
this Agreement had not terminated. 
 13.5 Dispute Resolution. Without limiting either party’s right(s) of termination or any other remedy
available to it, any controversy or bona fide disputed arising between the parties to this Agreement (other than Agreement Patent Challenges under Section 7.6 (entitled Patent Challenges by LICENSEE) of this Agreement), which controversy
or dispute cannot be resolved by mutual agreement may, by the election of either party, be submitted to non-binding dispute resolution before a mediator expert in the field, selected by mutual agreement within [***] days of written request by either
party. Said mediation shall be held in New York at such place as shall be mutually agreed upon 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. 

  
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13.6 Effect on Sublicensees. All sublicenses, and rights of AFFILIATES and SUBLICENSEES, will [***] as of the effective date of termination of this
Agreement, provided, however, that if at the effective date of termination any SUBLICENSEE is in good standing with regard to its obligations under its sublicense and agrees to assume the applicable obligations of LICENSEE hereunder, then, at the
request of the [***] such sublicense shall survive such termination or expiration of this AGREEMENT and be assigned to MSKCC with respect to the Licensed Product, Licensed Services, and Licensed Rights; provided, in such case the obligations of
MSKCC to SUBLICENSEE shall not exceed the obligations of MSKCC to LICENSEE under the Agreement and obligations of SUBLICENSEE to MSKCC shall not exceed the obligations of LICENSEE to MSKCC under the Agreement . 

13.7 Survival. Upon any expiration or termination of this Agreement, the following shall survive: 

 

	(a)	any provision expressly indicated to survive; 

  

	(b)	any liability which any party has already incurred to another party prior to expiration or termination; 

  

	(c)	LICENSEE’s reporting and payment obligations for activities occurring prior to expiration or termination (or pursuant to 13.4 (entitled Product Sell Off)); and 

 

	(d)	ARTICLE I (entitled Definitions), 2.2 (entitled Reserved Rights), 2.6 (entitled Disclaimer), ARTICLE VIII (entitled Indemnification; Reps and Warranties), ARTICLE IX (entitled
Confidentiality), ARTICLE XI (entitled Non-Use of Names), 13.4 (entitled Product Sell Off), 13.6 (entitled Effect on Sublicensees), 13.7 (entitled Survival), ARTICLE XIV (entitled Notices), and ARTICLE XV
(entitled Miscellaneous Provisions). 

 ARTICLE XIV - NOTICES 

Except for payments, each notice or other communication pursuant to this Agreement shall be sufficiently made or given when delivered by
courier or other means providing proof of delivery to such party at its address below or as it shall designate by written notice given to the other party: 

In the case of MSKCC: 
 Memorial
Sloan-Kettering Cancer Center 
 Office of Technology Development 
  

	 	If by mail:	1275 York Ave., Box 524 

 New York, NY 10065 

 

	 	If by courier:	600 Third Avenue, 16th floor 

 New York, NY 10016 

Attn: Executive Director 

Tel: 1-212-639-6181 (not for notice) 

Fax: 1-212-888-1120 (not for notice) 
  

[***] 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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With copies to: 
 Memorial
Sloan-Kettering Cancer Center 
 Office of General Counsel 
  

	 	If by mail:	1275 York Ave. 

 New York, NY 10065 

 

	 	If by courier:	1275 York Ave., Box 524 

 New York, NY 10065 

Attn: General Counsel 

Tel: 1-212-639-5800 (not for notice) 

Fax: 1- 212-717-3517 (not for notice) 

—and— 

Holland & Knight LLP 
 31
West 52nd Street 
 New York, NY 10019 

Attn: Charles A. Weiss 

Tel: 1-212-513-3200 (not for notice) 

Fax: 1-212-385-9010 (not for notice) 

In the case of LICENSEE: 
 Juno
Therapeutics, Inc. 
 8725 W. Higgins Road, Suite 290 

Chicago, IL 60631 
 Attn:
Chief Executive Officer 
 Tel:
[                            ] 

Fax:
[                            ] 

With a copy to: 
 Wilson Sonsini
Goodrich & Rosati 
 650 Page Mill Road 

Palo Alto, CA 94304-1050 

Attn: Michael S. Rabson 

Tel: 1-650-849-3249 

Fax: 1-650-493-6811 

  
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ARTICLE XV - MISCELLANEOUS PROVISIONS 
 15.1
Payments. This Agreement shall be construed, governed, interpreted and applied in accordance with the laws of the State of New York, without giving effect to any choice/conflict of law principles, except that questions affecting the
construction and effect of any patent shall be determined by the law of the country in which the patent was filed or granted. 
 15.2 Assignment. No
party may assign or delegate any or all of its rights or obligations under this Agreement, or transfer this Agreement, without the prior written consent of the other party, except that (a) either party shall have the right to assign any of its
rights, delegate any of its obligations, or transfer this Agreement without such consent (i) to an Affiliate or (ii) as part of a merger or acquisition or other transfer of all or substantially all of the assets of its business to which
this Agreement pertains, and (b) MSKCC may without consent of LICENSEE freely assign all or any portion of the payments due under this Agreement to a Third Party. Additionally, LICENSEE shall, on prior consent of MSKCC (such consent not to be
unreasonably withheld or delayed), be permitted to assign this Agreement in connection with the sale or transfer of a limited portion of its business to which this Agreement pertains. Any assignment, delegation or transfer by any party without the
consent of the other party shall be void and of no effect. 
 15.3 Choice of Law; Choice of Forum. This Agreement shall be governed by New York law.
With the exception of the limited provision for arbitration set forth in Section 4.5.4 and the provision for mediation set forth in Section 13.5, the state and federal courts located in New York County, New York, shall have exclusive
jurisdiction of any claims or actions between or among the parties arising out of or relating to this Agreement, and each party consents to venue and personal jurisdiction of those courts for the purpose of resolving any such disputes. 

15.4 Severability. Except to the extent a provision is stated to be essential, or otherwise to the contrary, the provisions of this Agreement are
severable, and in the event that any provisions of this Agreement shall be determined to be invalid or unenforceable under any controlling body of the law, such invalidity or unenforceability shall not in any way affect the validity or
enforceability of the remaining provisions hereof. 
 15.5 Marking. LICENSEE agrees to legibly mark the Licensed Products (and packaging, marketing
materials, package inserts, patient information leaflets, and other documentation therefore) sold in the United States with all applicable United States patent numbers, and other notices relating to MSKCC’s other Intellectual Property Rights,
such markings and notices to be in accordance with any written guidelines that may be provided by MSKCC from time to time. All Licensed Products shipped to or sold in other countries shall be marked in such a manner as to conform to the patent laws
and practice of the country of manufacture or sale. In connection with such patent marking, LICENSEE shall also include a statement that the Licensed Product is made under license from MSKCC. 

  
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15.6 Waiver. The failure of either party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not
constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party. 
 15.7
Counterparts. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be an original and all such counterparts shall together constitute but one and the same agreement. 

15.8 Force Majeure. Neither party shall lose any rights hereunder or be liable to the other party for damages or losses (except for payment obligations)
on account of failure of performance by the defaulting party to the extent such the failure is occasioned by war, strike, fire, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or restrictions (except if imposed due to or
resulting from the party’s violation of law or regulations), failure of suppliers, or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence, intentional conduct or misconduct of the
nonperforming party and the nonperforming party has exerted all reasonable efforts to avoid or remedy such force majeure; provided, however, that in no event shall (a) a party be required to settle any labor dispute or disturbance, or
(b) a force majeure excuse performance for a period of more than [***] months. For clarity, a failure to obtain funding shall not constitute a force majeure event. 

15.9 Further Assurances. At any time or from time to time on and after the date of this Agreement, MSKCC shall at the written request of LICENSEE
execute, and deliver or cause to be delivered, all such consents, documents or further instruments required by law to register or confirm the licenses granted in this Agreement. 

15.10 Entire Agreement. This Agreement, including its attachments and exhibits (which attachments and exhibits are incorporated herein by reference),
constitutes the entire understanding among and between the parties with respect to the subject matter hereof, and supersedes all prior agreements and communications, whether written, oral or otherwise. This Agreement may only be modified or
supplemented in a writing expressly stated for such purpose and signed by the parties to this Agreement. 
 15.11 Relationship Between the Parties.
The relationship between the parties under this Agreement is that of independent contractors. Nothing contained in this Agreement shall be construed to create a partnership, joint venture or agency relationship between any of the parties. No party
is a legal representative of any other party, and no party can assume or create any obligation, liability, representation, warranty or guarantee, express or implied, on behalf of another party for any purpose whatsoever. 

 
 [***] 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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 15.12 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 or 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. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, authorized representatives of the parties have signed and dated this
Agreement below. 
  

									
	JUNO THERAPEUTICS, INC.	 	MEMORIAL SLOAN-KETTERING CANCER CENTER
					
		 		 		 	By:	 	 /s/

	By:	 	 /s/
	 		 	Gregory Raskin, M.D.
	Hans Bishop	 		 	Executive Director
	Chief Executive Officer	 		 	Office of Technology Development
			
	Date:	 		 	Date: 11/20/13

  
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EXHIBIT A – PATENT RIGHTS 
 [***] 

 
 [***] 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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 EXHIBIT B – MSKCC-PROVIDED KNOW HOW 

  
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