Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 
 This
Employment Agreement (the “Agreement”) is made and entered into by and between Synageva BioPharma Corp. (the “Company”), a Delaware corporation with its principal place of business at 33 Hayden Ave, Lexington,
Massachusetts, and Robert Bazemore of 350 South River Rd, E3, New Hope, PA (the “Executive”), effective as of September 22, 2014 (the “Effective Date”). 

WHEREAS, the operations of the Company and its Affiliates (as defined below) are a complex matter requiring direction and leadership in a
variety of arenas, including financial, strategic planning, regulatory, community relations and others; 
 WHEREAS, the Executive possesses
certain experience and expertise that qualify him to provide the direction and leadership required by the Company and its Affiliates; and 

WHEREAS, the Company therefore wishes to employ the Executive as its Chief Operating Officer on the terms and conditions set forth in this
Agreement, and the Executive wishes to accept such employment; 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, terms, provisions and conditions set forth in this Agreement, the parties hereby agree: 
 1. Employment. Subject to the
terms and conditions set forth in this Agreement, the Company hereby offers, and the Executive hereby accepts, employment. 
 2.
Term. Subject to earlier termination as hereinafter provided, the Executive’s employment shall commence on the Effective Date, and shall continue until terminated pursuant to Section 5 hereof (the “Term”). 

3. Capacity and Performance. 
  

	 	a)	During the Term, the Executive shall serve the Company as its Chief Operating Officer, and shall report to the President and Chief Executive Officer (the “CEO”). In addition, the Executive may be asked
from time to time to serve as a director or officer of one or more of the Company’s Affiliates, without further compensation. 

  

	 	b)	 During the Term, the Executive shall devote his full business time and his best efforts, business judgment, skill and knowledge exclusively to the
advancement of the business and interests of the Company and its Affiliates and to the discharge of his duties and responsibilities hereunder. The Executive shall not engage in any other business activity or serve in any industry, trade,
professional, governmental or academic position during the term of this Agreement, except such activities as shall not interfere with the performance of his duties to the Company. 

  
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Notwithstanding the foregoing, the Executive shall be entitled to attend to personal and family affairs and investments, be involved in not for profit, charitable and professional activities and
serve on up to two for profit boards, provided that the foregoing does not, individually or in the aggregate, materially interfere with Executive’s responsibilities under this Agreement. 

4. Compensation and Benefits. As compensation for all services performed by the Executive during the Term and subject to the
Executive’s performance of his duties and obligations to the Company and its Affiliates, pursuant to this Agreement or otherwise, the Company shall provide the Executive with the following compensation and benefits: 

 

	 	a)	Base Salary. During the Term, the Company shall pay the Executive at the rate of Four Hundred Eighty Thousand Dollars ($480,000.00) per annum, payable in accordance with the payroll practices of the Company for
its executives and subject to increase from time to time by the Board, in its sole discretion (such base salary, as from time to time increased, the “Base Salary”). 

 

	 	b)	Incentive and Bonus Compensation. During the Employment Period, the Executive shall be eligible to receive an annual cash bonus (“Annual Bonus”) with a target level of 40% of Annual Base Salary
(the “Target Bonus”). Any such bonus shall be subject in all respects to the terms and conditions of the Synageva BioPharma Corp. Annual Cash Bonus Plan. 

 

	 	c)	Vacations. During the Term, the Executive shall be entitled to earn vacation at the rate of four (4) weeks per year, to be taken at such times and intervals as shall be determined by the Executive, subject
to the reasonable business needs of the Company. Vacation shall otherwise be governed by the policies of the Company, as in effect from time to time. 

  

	 	d)	Other Benefits. During the term hereof, the Executive shall be entitled to participate in any and all employee benefit plans and programs from time to time in effect for employees of the Company generally, except
to the extent any such benefit is in a category of benefit otherwise provided to the Executive hereunder (e.g., a severance pay plan). Such participation shall be subject to the terms of the applicable law, plan documents and generally
applicable Company policies. The Company may alter, modify, add to or delete its employee benefit plans and programs at any time as it, in its sole judgment, determines to be appropriate, without recourse by the Executive. 

 

	 	e)	 Business Expenses. The Company shall pay or reimburse the Executive for all reasonable and customary business expenses incurred or paid by the
Executive in the performance of his duties and responsibilities hereunder, subject to any maximum annual limit and other restrictions on such 

  
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expenses set by the Board and to such reasonable substantiation and documentation as may be specified by the Company from time to time and Section 7(d) hereof. 

5. Termination of Employment and Severance Benefits. The Executive’s employment hereunder shall terminate under the following
circumstances: 
  

	 	a)	Death. In the event of the Executive’s death, the Executive’s employment hereunder shall immediately and automatically terminate. 

 

	 	b)	Disability. 

  

	 	i.	The Company may terminate the Executive’s employment hereunder, upon notice to the Executive, in the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident
or condition of either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and responsibilities hereunder, notwithstanding the provision of any reasonable accommodation, for ninety (90) days
during any period of three hundred and sixty-five (365) consecutive calendar days. 

  

	 	ii.	The Company may designate another employee to act in the Executive’s place during any period of the Executive’s disability. Notwithstanding any such designation, the Executive shall continue to receive the
Base Salary in accordance with Section 4(a) and benefits in accordance with Section 4(d), to the extent permitted by the then-current terms of the applicable benefit plans, until the Executive becomes eligible for disability income
benefits under the Company’s disability income plan or until the termination of his employment, whichever shall first occur. 

  

	 	iii.	While receiving disability income payments under any disability income plan of the Company, the Executive shall not be entitled to receive any Base Salary under Section 4(a) hereof, but shall continue to
participate in Company benefit plans in accordance with Section 4(d) and the terms of such plans, until the termination of his employment. 

  

	 	iv.	 If any question shall arise as to whether during any period the Executive is disabled through any illness, injury, accident or condition of either a
physical or psychological nature so as to be unable to perform substantially all of his duties and responsibilities hereunder, the Executive may, and at the request of the Company shall, submit to a medical examination by a physician selected by the
Company to whom the Executive or his duly appointed guardian, if any, has no reasonable objection to determine whether 

  
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the Executive is so disabled and such determination shall for the purposes of this Agreement be conclusive of the issue. If such question shall arise and the Executive shall fail to submit to
such medical examination, the Company’s determination of the issue shall be binding on the Executive. 

  

	 	c)	By the Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause at any time upon notice to the Executive setting forth in reasonable detail the nature of such Cause. The
following, as determined by the Board in good faith, shall constitute Cause for termination: 

  

	 	i.	The Executive’s gross negligence or willful misconduct in the performance of his duties to the Company, where such gross negligence or willful misconduct has resulted in material damage to the Company or any of its
Affiliates or successors; 

  

	 	ii.	The Executive’s commission of any act of fraud, embezzlement or professional dishonesty with respect to the Company or any of its Affiliates; 

 

	 	iii.	The Executive’s commission of a felony or crime involving moral turpitude; 

  

	 	iv.	The Executive’s material breach of any provision of this Agreement or any other written agreement between the Executive and the Company; 

 

	 	v.	The Executive’s failure to comply with lawful directives of the CEO, which has caused damage to the Company or any of its Affiliates or successors. 

 

	 	d)	By the Company Other than for Cause. The Company may terminate the Executive’s employment hereunder other than for Cause at any time upon written notice to the Executive. 

 

	 	e)	By the Executive. The Executive may terminate his employment hereunder at any time upon sixty (60) days’ notice to the Company. In the event of termination by the Executive pursuant to this
Section 5(e), the Company may elect to waive the period of notice, or any portion thereof, without further obligation for remuneration to the Executive; provided, that in the event that the Company so waives some or all of the period of notice,
and the Executive is not resigning his employment for the purpose of commencing employment with another employer, the Company shall pay the Executive his Base Salary for the period so waived. 

  
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 6. Severance Payments and Other Matters Related to Separation from Service. 

 

	 	a)	Final Compensation. Following the termination of the Executive’s employment for any reason, the Company shall pay to the Executive: (i) any Base Salary earned but not paid during the final payroll
period of the Executive’s employment through the date of termination, (ii) pay for any vacation time earned but not used through the date of termination, (iii) any unpaid Annual Bonus due to Executive for the calendar year prior to
the year in which the termination occurs, and (iv) any business expenses incurred by the Executive but un-reimbursed on the date of termination, provided that such expenses and required substantiation and documentation are submitted within
thirty (30) days of termination and that such expenses are reimbursable under Company policy (all of the foregoing, “Final Compensation”). Any Base Salary and any earned, unused vacation time shall be paid to the Executive at
the time required by law, but not later than the Company’s next regular pay date following the date of termination. Any business expenses due under this Section 6(a) shall be paid within sixty (60) days following the date of
termination. Other than as expressly provided in Section 6(b), the Company shall have no further obligation to the Executive hereunder. 

  

	 	b)	Severance. In the event the Executive experiences a Separation from Service in connection with any termination pursuant to Section 5(a), 5(b) or 5(d) of this Agreement, in addition to Final Compensation, the
Company shall accelerate the vesting of all unvested equity previously granted to the Executive by twelve (12) months and shall pay the Executive (i) a lump sum equal to the Base Salary divided by 12, then multiplied by the number of
months set forth in the Severance Period (as defined below)(such payment, the “Severance Payment”), (ii) the Post-Termination Bonus (as defined below) and, if such Separation from Service occurs during the twelve
(12) month period following a Change in Control (as defined below) (such period, the “Change in Control Period”) only, (iii) an additional one-time bonus of $16,500 (the “One-Time Bonus”). Subject to
Sections 6(e) and 7(a) of this Agreement (i) the Severance Payment and any One-Time Bonus shall be paid on the sixtieth (60th) day following the date of termination and (ii) the Post-Termination Bonus shall be paid at the time
provided in the applicable bonus plan or form of annual award issued thereunder; provided, that if the termination occurs during a Change in Control Period, the Post-Termination Bonus shall be paid at the same time as the Severance Payment.

  

	 	c)	Severance Period. For the purposes of this Agreement, the Severance Period shall be Nine Months (9) months; provided, that if the Executive’s Separation from Service occurs during a Change in
Control Period (as defined below) Period, then the Severance Period shall be Twelve (12) months. 

  

	 	d)	Post-Termination Bonus. For the purposes of this Agreement, the Post-Termination Bonus shall be a pro-rata share of the Target Bonus for the year in which the termination occurs; provided, that if termination
occurs during a Change in Control Period, the Post-Termination Bonus shall be equal to the Target Bonus for the year in which termination occurs. 

  
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	 	e)	Release of Claims. Any obligation of the Company for the payment of any Severance Payment or Post-Termination Bonus is conditioned, however, on the Executive’s signing and returning to the Company a general
release of claims in the form provided by the Company at the time the Executive’s employment is terminated (the “Employee Release”). The Executive must sign and return the Employee Release, and the Employee Release must become
effective, if at all, by the deadline specified therein, which deadline shall in no event be later than the sixtieth (60th) calendar day following the termination date. 

 

	 	f)	Effect of Termination. Payment by the Company of Final Compensation, Severance Payment and Post-Termination Bonus, as appropriate, shall constitute the sole obligations of the Company in connection with the
termination of the Executive’s employment hereunder. Except for any right of the Executive to continue medical and dental plan participation in accordance with applicable law, benefits shall terminate pursuant to the terms of the applicable
benefit plans based on the date of termination of the Executive’s employment without regard to the payment of any Severance Payment or Post-Termination Bonus. 

 

	 	g)	Survival. Provisions of this Agreement shall survive any termination if so provided herein or if necessary or desirable to accomplish the purposes of other surviving provisions, including without limitation the
obligations of the Executive under Sections 8, 9 and 10 hereof. The obligation of the Company to make, and the right of the Executive to retain, any Severance Payment or Post-Termination Bonus is expressly conditioned upon the Executive’s
continued full performance of his obligations under Sections 8, 9 and 10 hereof. 

 7. Timing of Payments and
Section 409A. 
  

	 	a)	Notwithstanding anything to the contrary in this Agreement, if at the time of the Executive’s termination of employment, the Executive is a Specified Employee, any and all amounts payable under Section 6 on
account of such Separation from Service that would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the expiration of such six (6) month
period. 

  

	 	b)	For purposes of this Agreement, “Separation from Service” shall be determined in a manner consistent with subsection (a)(2)(A)(i) of Section 409A, and the term “Specified Employee”
shall mean an individual determined by the Company to be a specified employee as defined in subsection (a)(2)(B)(i) of Section 409A. 

  

	 	c)	Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

  
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	 	d)	The Executive’s right to reimbursement for business expenses hereunder shall be subject to the following additional rules: (i) the amount of expenses eligible for reimbursement during any calendar year shall
not affect the expenses eligible for reimbursement in any other taxable year, (ii) reimbursement shall be made not later than December 31 of the calendar year following the calendar year in which the expense was incurred, and
(iii) the right to reimbursement is not subject to liquidation or exchange for any other benefit. 

  

	 	e)	In no event shall the Company have any liability relating to any payment or benefit under this Agreement failing to comply with, or be exempt from, the requirements of Section 409A. 

8. Confidential Information. 
  

	 	a)	The Executive acknowledges that the Company and its Affiliates continually develop Confidential Information, that the Executive may develop Confidential Information for the Company or its Affiliates and that the
Executive may learn of Confidential Information during the course of employment. The Executive will comply with the policies and procedures of the Company and its Affiliates for protecting Confidential Information and shall not disclose to any
Person or use, other than as required by applicable law or for the proper performance of his duties and responsibilities to the Company and its Affiliates, any Confidential Information obtained by the Executive incident to his employment or other
association with the Company or any of its Affiliates. The Executive understands that this restriction shall continue to apply after his employment terminates, regardless of the reason for such termination. The confidentiality obligation under this
Section 8 shall not apply to information which is generally known or readily available to the public at the time of disclosure or becomes generally known through no wrongful act on the part of the Executive or any other Person having an
obligation of confidentiality to the Company or any of its Affiliates. 

  

	 	b)	All documents, records, tapes and other media of every kind and description relating to the business, present or otherwise, of the Company or its Affiliates and any copies, in whole or in part, thereof (the
“Documents”), whether or not prepared by the Executive, shall be the sole and exclusive property of the Company and its Affiliates. The Executive shall safeguard all Documents and other property of the Company and shall surrender to
the Company at the time his employment terminates, or at such earlier time or times as the Board or its designee may specify, all Documents and other property of the Company then in the Executive’s possession or control. 

9. Assignment of Rights to Intellectual Property. The Executive shall promptly and fully disclose all Intellectual Property to the
Company. The Executive hereby assigns and agrees to assign to the Company (or as otherwise directed by the Company) the Executive’s full right, title and interest in and to all Intellectual Property. The Executive agrees to execute any and all
applications for domestic and foreign 

  
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patents, copyrights or other proprietary rights and to do such other acts (including without limitation the execution and delivery of instruments of further assurance or confirmation) requested
by the Company to assign the Intellectual Property to the Company and to permit the Company to enforce any patents, copyrights or other proprietary rights to the Intellectual Property. The Executive will not charge the Company for time spent in
complying with these obligations. All copyrightable works that the Executive creates shall be considered “work made for hire” and shall, upon creation, be owned exclusively by the Company. 

10. Restricted Activities. The Executive agrees that the following restrictions on his activities during and after his employment are
necessary to protect the good will, Confidential Information, trade secrets and other legitimate interests of the Company and its Affiliates: 
  

	 	a)	During the Term, the Executive will not undertake any outside activity, whether or not competitive with the business of the Company or its Affiliates, that could reasonably give rise to a conflict of interest or
otherwise interfere with his duties and obligations to the Company or any of its Affiliates. 

  

	 	b)	During the Term and for twenty-four (24) months after his employment terminates (the “Restricted Period”), the Executive shall not, directly or indirectly, whether as owner, partner, investor,
consultant, agent, employee, co-venturer or otherwise, compete with the Company or any of its Affiliates within any geographic area in which the Company or any of its Affiliates does business or undertake any planning for any business competitive
with the Company or any of its Affiliates. Specifically, but without limiting the foregoing, the Executive agrees not to engage in any manner in any activity that is directly or indirectly competitive or potentially competitive with the business of
the Company or any of its Affiliates, as conducted or under consideration at any time during the Executive’s employment, and further agrees not to work or provide services, in any capacity, whether as an employee, independent contractor or
otherwise, whether with or without compensation, to any Person who is engaged in any business that is competitive with the business of the Company or any of its Affiliates for which the Executive has provided services, as conducted or in planning
during his employment. For the purposes of this Section 10, the business of the Company and its Affiliates shall include all Products and the Executive’s undertaking shall encompass all items, products and services that may be used in
substitution for Products. The foregoing, however, shall not prevent the Executive’s passive ownership of two percent (2%) or less of the equity securities of any publicly traded company. 

 

	 	c)	 During the Restricted Period, the Executive will not directly or indirectly (a) solicit or encourage any customer of the Company or any of its
Affiliates to terminate or diminish its relationship with them; or (b) seek to persuade any such customer or prospective customer of the Company or any of its Affiliates to conduct with anyone else any business or activity which such customer
or 

  
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prospective customer conducts or could conduct with the Company or any of its Affiliates; provided that these restrictions shall apply (y) only with respect to those Persons who are or have
been a customer of the Company or any of its Affiliates at any time within the immediately preceding one year period or whose business has been solicited on behalf of the Company or any of the Affiliates by any of their officers, employees or agents
within said one year period, other than by form letter, blanket mailing or published advertisement, and (z) only if the Executive has performed work for such Person during his employment with the Company or one of its Affiliates or been
introduced to, or otherwise had contact with, such Person as a result of his employment or other associations with the Company or one of its Affiliates or has had access to Confidential Information which would assist in the Executive’s
solicitation of such Person. 

  

	 	d)	During the Restricted Period, the Executive will not, and will not assist any other Person to, (a) hire or solicit for hiring any employee of the Company or any of its Affiliates or seek to persuade any employee of
the Company or any of its Affiliates to discontinue employment or (b) solicit or encourage any independent contractor providing services to the Company or any of its Affiliates to terminate or diminish its relationship with them. For the
purposes of this Agreement, an “employee” of the Company or any of its Affiliates is any person who was such at any time within the preceding two years. 

11. Enforcement of Covenants. The Executive acknowledges that he has carefully read and considered all the terms and conditions of this
Agreement, including the restraints imposed upon him pursuant to Sections 8, 9 and 10 hereof. The Executive agrees without reservation that each of the restraints contained herein is necessary for the reasonable and proper protection of the good
will, Confidential Information, trade secrets and other legitimate interests of the Company and its Affiliates; that each and every one of those restraints is reasonable in respect to subject matter, length of time and geographic area; and that
these restraints, individually or in the aggregate, will not prevent him from obtaining other suitable employment during the period in which the Executive is bound by these restraints. The Executive further agrees that he will never assert, or
permit to be asserted on his behalf, in any forum, any position contrary to the foregoing. The Executive further acknowledges that, were he to breach any of the covenants contained in Sections 8, 9 and 10 hereof, the damage to the Company would be
irreparable. The Executive therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Executive of any of said
covenants, without having to post bond and to recover its reasonable attorneys’ fees and costs incurred in securing such relief. The Executive agrees that the Restricted Period shall be tolled, and shall not run, during any period of time in
which he is in violation of the terms thereof, in order that the Company and its Affiliates shall have all of the agreed-upon temporal protection recited herein. The parties further agree that, in the event that any provision of Section 8, 9 or
10 hereof shall be determined by any court of competent 

  
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jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be
modified to permit its enforcement to the maximum extent permitted by law. 
 12. Conflicting Agreements. The Executive hereby
represents and warrants that the execution of this Agreement and the performance of his obligations hereunder will not breach or be in conflict with any other agreement to which the Executive is a party or is bound and that the Executive is not now
subject to any covenants against competition or similar covenants or any court order or other legal obligation that would affect the performance of his obligations hereunder. The Executive will not disclose to or use on behalf of the Company any
proprietary information of a third party without such party’s consent. 
 13. Indemnification. The Company shall indemnify the
Executive to the extent provided in its then current Articles or By-Laws. The Executive agrees to promptly notify the Company of any actual or threatened claim arising out of or as a result of his employment with the Company. 

14. Definitions. Words or phrases that are initially capitalized or are within quotation marks shall have the meanings provided in this
Section and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 
  

	 	a)	“Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, contract or equity
interest. 

  

	 	b)	 “Change in Control” means (1) a sale of all or substantially all of the Company’s assets, or (2) any merger,
consolidation or other business combination transaction of the Company with or into another corporation, entity or person, other than a transaction in which the holders of at least a majority of the shares of voting capital stock of the Company
outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) a majority of the total voting power represented
by the shares of voting capital stock of the Company (or the surviving entity) outstanding immediately after such transaction, or (3) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons
acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company. Notwithstanding the foregoing, a Change of
Control shall not be deemed to occur (A) on account of the acquisition of shares of voting capital stock by any institutional investor or any affiliate thereof or any other person, or persons acting as a group, that acquires the Company’s
shares of voting capital stock in a transaction or series of related transactions that are primarily a private financing transaction for the Company or (B) solely because the level of ownership held by any institutional investor or any
affiliate thereof or any 

  
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other person, or persons acting as a group (the “Subject Person”), exceeds the designated percentage threshold of the outstanding shares of voting capital stock as a result of a
repurchase or other acquisition of shares of voting capital stock by the Company reducing the number of shares outstanding, provided that if a Change of Control would occur (but for the operating of this sentence) as a result of the acquisition of
shares of voting capital stock by the Company, and after such share acquisition, the Subject Person becomes the owner of any additional shares of voting capital stock that, assuming the repurchase or other acquisition had not occurred, increases the
percentage of the then outstanding shares of voting capital stock owned by such Subject Person over the designated percentage threshold, then a Change of Control shall be deemed to occur. 

 

	 	c)	“Confidential Information” means any and all information of the Company and its Affiliates that is not generally known by those with whom the Company or any of its Affiliates competes or does business,
or with whom the Company or any of its Affiliates plans to compete or do business and any and all information, publicly known in whole or in part or not, which, if disclosed by the Company or any of its Affiliates would assist in competition against
them. Confidential Information includes without limitation such information relating to (i) the development, research, testing, manufacturing, marketing and financial activities of the Company and its Affiliates, (ii) the Products,
(iii) the costs, sources of supply, financial performance and strategic plans of the Company and its Affiliates, (iv) the identity and special needs of the customers of the Company and its Affiliates and (v) the people and
organizations with whom the Company and its Affiliates have business relationships and the nature and substance of those relationships. Confidential Information also includes any information that the Company or any of its Affiliates has received, or
may receive hereafter, belonging to customers or others with any understanding, express or implied, that the information would not be disclosed. 

  

	 	d)	“Intellectual Property” means inventions, discoveries, developments, methods, processes, compositions, works, concepts and ideas (whether or not patentable or copyrightable or constituting trade
secrets) conceived, made, created, developed or reduced to practice by the Executive (whether alone or with others, whether or not during normal business hours or on or off Company premises) during the Executive’s employment that relate to
either the Products or any prospective activity of the Company or any of its Affiliates or that make use of Confidential Information or any of the equipment or facilities of the Company or any of its Affiliates. 

 

	 	e)	“Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust and any other entity or organization, other than the Company or any of its
Affiliates. 

  

	 	f)	“Products” mean all products that the Company is developing, testing, manufacturing, licensing, leasing or otherwise distributing or is planning (during the time of the Executive’s employment with
the Company) to develop, test, manufacture, license, lease or distribute at the time of termination, during the Executive’s employment. 

  
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 15. Withholding. All payments made by the Company under this Agreement shall be reduced by
any tax or other amounts required to be withheld by the Company under applicable law. 
 16. Assignment. 

 

	 	a)	Neither the Company nor the Executive may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the
Company may assign its rights and obligations under this Agreement without the consent of the Executive in the event that the Executive is transferred to a position with any of the Affiliates or in the event that the Company shall hereafter effect a
reorganization, consolidate with, or merge into, any Person or transfer all or substantially all of its properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Company and the Executive, their
respective successors, executors, administrators, heirs and permitted assigns. 

  

	 	b)	The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree
to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined
and any successor to its business and/or assets as aforesaid. 

 17. Severability. If any portion or provision of this
Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so
declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

18. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of
either party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 

  
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 19. Notices. Any and all notices, requests, demands and other communications provided for
by this Agreement shall be in writing and shall be effective when delivered in person, consigned to a reputable national courier service or deposited in the United States mail, postage prepaid, registered or certified, and addressed to the Executive
at his last known address on the books of the Company or, in the case of the Company, at its principal place of business, attention of the Chair of the Board, or to such other address as either party may specify by notice to the other actually
received. 
 20. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior
communications, agreements and understandings, written or oral, with respect to the terms and conditions of the Executive’s employment. 

21. Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by an expressly
authorized representative of the Company. 
 22. Headings. The headings and captions in this Agreement are for convenience only and
in no way define or describe the scope or content of any provision of this Agreement. 
 23. Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 

24. Governing Law. This is a Massachusetts contract and shall be construed and enforced under and be governed in all respects by the
laws of the Commonwealth of Massachusetts, without regard to the conflict of laws principles thereof. 
 [Signature page follows
immediately.] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Company, by
its duly authorized representative, and by the Executive, as of the date first above written. 
  

							
	THE EXECUTIVE:	 		 	THE COMPANY
				
	 /s/ Robert Bazemore
	 		 	By:	 	 /s/ Stephen Andre

				
	Robert Bazemore	 		 		 	Stephen Andre
		 		 		 	SVP, Human Resources

  
 -14-EX-4.3

 Exhibit 4.3 

SHAREHOLDERS’ AGREEMENT 

BETWEEN 
 FONDS STRATEGIQUE
D’INVESTISSEMENT 
 Pierre-Henri BENHAMOU 

Bertrand DUPONT 
 PHYS
Participations 
 and 

DBCS Participations 
 IN
THE PRESENCE OF 
 DBV TECHNOLOGIES 

March 9, 2012 

 TABLE OF CONTENTS 

 

							
	Article 1.	 	 Definitions, Interpretation
	  	 	4	  
	 1.1
	 	 Definitions
	  	 	4	  
	 1.2
	 	 Interpretation
	  	 	5	  
			
	Article 2.	 	 Governance of DBV
	  	 	5	  
	 2.1
	 	 Board of Directors
	  	 	5	  
	 2.2
	 	 Information for members of the Board of Directors
	  	 	7	  
			
	Article 3.	 	 Transfer of DBV Securities
	  	 	7	  
	 3.1
	 	 Undertaking to retain Securities held by Managers
	  	 	7	  
	 3.2
	 	 Undertaking to retain Securities held by the FSI
	  	 	8	  
	 3.3
	 	 Free transfers
	  	 	8	  
			
	Article 4.	 	 Undertakings by Managers
	  	 	8	  
			
	Article 5.	 	 Right of the FSI to Audit
	  	 	8	  
			
	Article 6.	 	 Intellectual Property
	  	 	8	  
			
	Article 7.	 	 Term of the Agreement
	  	 	9	  
			
	Article 8.	 	 Notifications
	  	 	9	  
			
	Article 9.	 	 Applicable Law and Jurisdiction
	  	 	10	  
			
	Article 10.	 	 Enforcement
	  	 	10	  
			
	Article 11.	 	 General Stipulations
	  	 	10	  
			
	 11.1
	 	 Confidentiality
	  	 	10	  
	 11.2
	 	 Entire agreement between the Parties
	  	 	10	  
	 11.3
	 	 Where provision of Agreement void
	  	 	10	  
	 11.4
	 	 Agreement to prevail between Parties
	  	 	11	  
	 11.5
	 	 Transfer
	  	 	11	  

 SHAREHOLDERS’ AGREEMENT 

BETWEEN: 
 Fonds Stratégique
d’Investissement, a limited company registered in the Trade and Companies Register of Paris under number 509 584 074, having its head office at 56, rue de Lille, 75007 Paris, represented by Thomas Devedjian and Maïlys Ferrère,
duly authorized for the purposes hereof, 
 Hereinafter the “FSI,” 

OF THE FIRST PART, 
 Pierre-Henri
BENHAMOU, born in Casablanca, Morocco, on June 27, 1955, of French nationality, residing at 78 avenue de Suffren, 75015 Paris, 

OF THE SECOND PART, 
 PHYS
Participations, a simplified joint-stock company having its head office at 104 avenue Victor Hugo, 92100 Boulogne Billancourt, registered in the trade and companies register of Nanterre under number 448 614 214, represented by Mr. Benhamou,
duly authorized for the purposes hereof, 
 hereinafter “PHYS,” 

OF THE THIRD PART, 
 Bertrand
DUPONT, born in Marrakech, Morocco, on January 14, 1952, of French nationality, residing at 46 avenue Jules Isaac, 13100 Aix en Provence, 

OF THE FOURTH PART, 
 DBCS
Participations, a simplified joint-stock company having its head office at 104 avenue Victor Hugo, 92100 Boulogne Billancourt, registered in the trade and companies register of Nanterre under number 448 599 605, represented by Mr. Dupont,
duly authorized for the purposes hereof, 
 hereinafter “DBCS,” 

OF THE FIFTH PART, 
 The FSI, Pierre-Henri
BENHAMOU, PHYS PARTICIPATIONS, Bertrand DUPONT, and DBCS Participations are hereinafter referred to collectively as the “Parties” and individually as “Party.” 

Pierre-Henry BENHAMOU, PHYS, Bertrand DUPONT, and DBCS are hereinafter referred to collectively as “Managers.” 

 IN THE PRESENCE OF: 

DBV Technologies, a limited company registered in the trade and companies register of Nanterre under number 441 772 522, having its head office at Green
Square, Bâtiment D, 80-84, rue des Meuniers, 92220 Bagneux, represented by Pierre Henri Benhamou, acting in his capacity as Chief Executive Officer, 

hereinafter referred to as “DBV.” 

WHEREAS: 
  

	 	•	 	The Company proposes to initiate a cash capital increase by issuing a maximum of 6,048,017 new shares by way of a global offering, including a public offering in France and a private placement in France and outside
France (the “Offer”) and the admission of its shares to listing on the Euronext Paris market. 

  

	 	•	 	The FSI and the Company entered into a memorandum of agreement on March 9, 2012 (the “MOA”) under which they agreed on the terms on which the FSI would acquire a stake in the capital of the Company
at the time of the Offer. 

  

	 	•	 	The Parties have decided to enter into this Agreement, the purpose of which is to govern their relations as shareholders in the company (the “Agreement”). 

NOW THEREFORE, IT HAS BEEN AGREED AS FOLLOWS: 
  

	 	Article 1.	    DEFINITIONS, INTERPRETATION 

  

	1.1	Definitions 

 In the Agreement, terms that are capitalized have the meaning assigned to them below: 

 

			
	Affiliate	  	means any person or entity Controlled by a Party, any person or entity that Controls that Party, and any person or entity that is under the Control of the person or persons that Control it;
		
	FSI Member	  	has the meaning assigned to that term in Article 3.1.1;
		
	Control	  	has the meaning assigned to that term by Article L. 233-3 of the commercial code;
		
	Completion Date	  	means the delivery/payment date of the new shares issued pursuant to the Offer;
		
	Important Decisions	  	has the meaning assigned to that term in Article 3.1.3;
		
	Business Day	  	means any day other than a Saturday, a Sunday, or a holiday in France referred to in Article L. 3133-1 of the labor code;
		
	By-laws	  	means the by-laws of the board of directors of DBV, as adopted on January 17, 2012;
		
	Articles of Association	  	means the articles of association of DBV;
		
	Third Party	  	means any person other than the Parties, an Affiliate of a Party, or DBV;
		
	Security	  	means (i) any ordinary or preferred share issued by DBV and any other security issued or to be issued by DBV that does or may carry entitlement,

			
		  	directly or indirectly, immediately or later, by conversion, exchange, reimbursement, presentation or exercise of a coupon, or by any other method, to have shares of DBV allocated or to other securities representing or giving
access to a share in the capital or to voting rights in DBV, (ii) any stripping of the securities referred to above, and (iv) any other security of the same nature as the securities referred to above, issued or allocated by any company or entity of
any nature whatsoever pursuant to a conversion, merger, split, partial contribution of assets, or similar transaction by DBV;
		
	Transfer	  	means any transaction for consideration or free of charge that results or could result in a transfer of ownership of a share or any other Security, including, in particular, any transfer resulting from a public auction ordered by
a court, any contribution to a company or a trust (by contribution in kind, partial contribution of assets, merger, or split), consumer loan, any transaction for the pledge of financial securities account, individual waiver of a right of
subscription or allocation in favor of identified persons, any promise of sale, and any combination of those forms of transfer.

  

	1.2	Interpretation 

 The meanings of the terms defined in Article 1.1 or in any other provision of the
Agreement apply both to the singular and to the plural. 
 Any reference to a statutory provision means the provision as it may be amended, replaced, or
codified in future, where such amendment, replacement, or codification is applicable or could be applied to the transactions entered into under the Agreement. 
  

	 	Article 2.	    GOVERNANCE OF DBV 

  

	2.1	Board of Directors 

  

	2.1.1	Composition 

 The Board of Directors of DBV is composed of the number of members provided in the Articles of
Association. 
 The Board of Directors of DBV will include, as soon as possible after the Agreement is signed, at least one (1) member appointed on the
recommendation of the FSI (the “FSI Member”), and the FSI Member will be a permanent member of at least one of the committees created or that might be created by the Board of Directors of DBV. 

The Managers agree to move and vote (at the next general meeting of the shareholders of DBV) for resolutions to appoint the FSI Member to the Board of
Directors of DBV; the Managers who are members of the Board of Directors further agree to move and vote for resolutions granting attendance fees to the FSI Member. In addition, the Managers agree to move and vote for resolutions to replace the FSI
Member with a director proposed by the FSI if the FSI Member ceases to hold office. 

 The Managers who are members of the Board of Directors agree to move and vote for decisions to appoint the FSI
member to at least one of the committees created or to be created by the Board of Directors of DBV. 
 In addition, the Managers agree to move and vote for
resolutions to appoint the FSI or a person designated by the FSI as a non-voting member of the Board of Directors of DBV. The Managers further agree to move and vote for resolutions to replace the FSI or the person designated by the FSI if the
non-voting member ceases to hold office. 
  

	2.1.2	Functioning 

 The Board of Directors will meet and deliberate in accordance with the terms and conditions
prescribed by law and regulation and, where applicable, by the By-laws of the Board of Directors. 
 The Managers who are members of the Board of Directors
agree not to move or vote for any amendment to the By-laws without the prior agreement of the FSI. 
  

	2.1.3	Important Decisions 

 The following decisions (“Important Decisions”) will require the prior
authorization of the Board of Directors: 
  

	 	•	 	transactions that could affect the strategy, capital, financial structure, or scope of activity of DBV; 

  

	 	•	 	approval and amendment of the DBV business plan and adoption of the annual budget; 

  

	 	•	 	merger, split, partial contribution of assets or any other similar or equivalent transaction, dissolution, liquidation, lease management or assignment of business, or transfer of essential assets, with respect both to
DBV and to its subsidiaries; 

  

	 	•	 	acquisition or transfer, taking or transfer of participation in other entities, joint ventures, in a unit amount greater than 1 million euros or a total amount greater than 5 million euros, and any exchanges
relating to property, shares, or securities in the course of acquisition or transfer transactions; 

  

	 	•	 	investment or divestment (whether in the form of CAPEX or OPEX), commitment or decommitment, acquisition or transfer of assets not provided for in the annual budget and in a unit amount greater than 1 million euros
or a total amount greater than 5 million euros; 

  

	 	•	 	creation of subsidiaries or opening of their capital to third parties; 

  

	 	•	 	setting up facilities outside French territory, in particular via offices, branches, or establishments, including R&D activities, or removing such facilities; 

 

	 	•	 	entering into financing not provided in the annual budget in a unit amount greater than 1 million euros or a total amount greater than 5 million euros, or resulting in a unit commitment greater than
1 million euros or a total commitment greater than 5 million euros, including credit facilities and hire-purchase contracts; any decision by DBV or one of its subsidiaries that could result in default on financing taken out by DBV and/or
its subsidiaries; 

  

	 	•	 	granting security interests, endorsements, or guarantees on property of DBV or its subsidiaries, granting any other off-balance sheet commitment, other than in the ordinary course of business; 

	 	•	 	agreements establishing or amending the main terms and conditions of any agreement relating to strategic partnerships; 

  

	 	•	 	assigning or transferring intellectual property rights and R&D results and any license relating thereto, other than in the ordinary course of business, and not as provided in the annual budget; 

 

	 	•	 	initiating and conducting significant litigation and settlements relating to such litigation; 

  

	 	•	 	amending the rules relating to the composition of the Board of Directors and to voting on decisions submitted to the Board of Directors; 

 

	 	•	 	amending the list of Important Decisions; 

  

	 	•	 	recruiting site managers or department managers employed by DBV or one of its subsidiaries; 

  

	 	•	 	entering into, amending, and/or cancelling by DBV or one of its subsidiaries of any agreement entered into, directly or indirectly, with an affiliate, a shareholder, a director, an officer, and/or any other senior
manager of DBV or one of its subsidiaries (including any regulated agreement within the meaning of the commercial code); 

  

	 	•	 	calling a general meeting of shareholders and any resolution moved at such meeting. 

  

	2.2	Information for Members of the Board of Directors 

 The Chair of the Board of Directors is required to
provide each member of the Board of Directors with all documents and information necessary for the performance of their mission. 
 The documents that
enable directors to decide the items placed on the agenda by the Chair in an informed manner will be provided to the directors and the non-voting members at least five business days before each meeting of the Board, except in an emergency or where
complete confidentiality must be maintained. 
  

	 	Article 3.	    TRANSFER OF DBV SECURITIES 

  

	3.1	Undertaking to retain Securities held by Pierre-Henri Benhamou and Bertrand Dupont 

  

	3.1.1	Undertaking to retain 

  

	3.1.1.1	Pierre-Henri Benhamou and Bertrand Dupont agree to retain all of the Securities they hold or may hold, directly or indirectly through PHYS and DBCS, respectively, for a period of two (2) years commencing on the
date on which the shares of DBV are first listed (the “Initial Non-transfer Period”). 

  

	3.1.1.2	Pierre-Henri Benhamou and Bertrand Dupont agree to retain 85% of the Securities they hold or may hold, directly or indirectly through PHYS and DBCS, respectively, for a period of one (1) year commencing on the
expiration of the Initial Non-Transfer Period (the “Additional Non-transfer Period”). 

  

	3.1.1.3	Pierre-Henri Benhamou and Bertrand Dupont agree to retain 70% of the Securities they hold or may hold, directly or indirectly through PHYS and DBCS respectively, for a period of (1) year commencing on the
expiration of the Additional Non-Transfer Period. 

  

	3.1.2	Promise to stand surety 

	3.1.2.1	Pierre-Henri Benhamou stands surety for the undertaking that PHYS will retain the Securities corresponding to his share of the Securities held by PHYS, calculated on the basis of the proportion he owns of the capital of
PHYS, within the common limits and during the periods provided in 3.1.1 above. 

 Nevertheless, transfers made by PHYS after
six (6) months following the date on which the shares of DBV are first listed, for the sole purpose of ensuring the liquidity of the shareholders of PHYS other than Pierre-Henri Benhamou, will be free. 

 

	3.1.2.2	Bertrand Dupont stands surety for the undertaking that DBCS will retain the Securities corresponding to his share of the Securities held by DBCS, calculated on the basis of the proportion he owns of the capital of DBCS,
within the common limits and during the periods provided in 3.1.1 above. 

 Nevertheless, transfers made by DBCS after six
(6) months following the date on which the shares of DBV are first listed, for the sole purpose of ensuring the liquidity of the shareholders of DBCS other than Bertrand Dupont, will be free. 

 

	3.2	Undertaking to retain Securities held by the FSI 

 The FSI agrees, for a period of two (2) years
following the date on which the shares of DBV are first listed, to retain the Shares it holds or may hold. 
  

	3.3	Free transfers 

 Notwithstanding the non-transfer agreement provided in Article 3.1.4, the FSI may freely
Transfer all or part of its Securities to one of its Affiliates. 
 The FSI may also freely Transfer all or part of its Securities to a Third Party in the
event of: 
 (i) violation of any of the undertakings given in the Agreement, otherwise than by simple omission that would not jeopardize the undertakings
given in this Agreement; 
 (ii) changes to the list of Important Decisions not approved by the FSI; 

(iii) change of DBV strategy not agreed to by the FSI; or 
 (iv)
public offer involving DBV Securities. 
  

	 	Article 4.	    UNDERTAKINGS BY MANAGERS 

 The
Managers will give notice each year, within thirty (30) Days after the closure of the preceding fiscal year of PHYS and DBCS, respectively, of the level Pierre-Henri Benhamou’s ownership of PHYS and the level of Bertrand Dupont’s
ownership of DBCS. 
  

	 	Article 5.	    RIGHT OF AUDIT OF THE FSI 

The FSI has the right to perform any audit at any time at its expense. The right of audit set out in Article 5 hereof may be exercised on the condition
that providing information in relation to the audits or performing the audits does not disrupt the normal function of DBV and its subsidiaries, and in compliance with the regulations relating to the distribution and retention of privileged
information. 
  

	 	Article 6.	    INTELLECTUAL PROPERTY 

 The Managers who perform
the management functions and DBV further agree to ensure that every employee or officer of DBV and its subsidiaries, and every Third Party service provider, signs an undertaking in accordance with the applicable regulations under which such
employee, officer, or Third Party transfers to DBV or, where applicable, to one of its subsidiaries all of their intellectual property or industrial property rights in the work they perform in the area of activity of DBV and/or of its subsidiaries,
on its or their behalf, it being understood that any filing resulting from the activity of DBV and/or of one of its subsidiaries will be made on behalf of DBV or, where applicable, of one of its subsidiaries, to the extent permitted by the
applicable regulations. 

	 	Article 7.	    TERM OF THE AGREEMENT 

This Agreement will come into force on the date on which the shares of DBV are first listed and will remain in force until the expiration of ten
(10) years following that date. 
 Nevertheless, the Agreement will be terminated if the MOA terminates. 

Moreover, the Agreement will be terminated on the date on which the FSI transfers more than half of the share it owns of the capital of DBV on the Completion
Date. 
 It is nonetheless specified that the expiration of the Agreement will have no effect, however, on the stipulations expressly providing that they
will continue to have effect after one of those dates or on the validity of any right or obligation of a party arising out of the performance or non-performance of the Agreement prior to its expiration. 

 

	 	Article 8.	    NOTIFICATIONS 

 Notifications will be validly addressed as
follows: 
 For FSI: 
  

			
	Attn.:	  	Maïlys Ferrère
		  	Investment Manager
	Address:	  	Fonds Stratégique d’Investissement
		  	56, rue de Lille, 75007 Paris
	Fax No.:	  	01.58.50.12.07
	
	For Pierre-Henri Benhamou:
	Address:	  	104 avenue Victor Hugo, 2100 Boulogne Billancourt
	Fax No.:	  	01.46.99.98.97
	
	For PHYS Participations:
	Attn.:	  	Pierre-Henri Benhamou
	Address:	  	104 avenue Victor Hugo, 2100 Boulogne Billancourt
	Fax No.:	  	01.46.99.98.97
		
	For Bertrand Dupont:	  	
	Address:	  	104 avenue Victor Hugo, 2100 Boulogne Billancourt
	Fax No.:	  	01.46.99.98.97
	
	For DBCS Participations:
	Att.:	  	Bertrand Dupont
	Address:	  	104 avenue Victor Hugo, 2100 Boulogne Billancourt
	Fax No.:	  	01.46.99.98.97

 Each Party may amend their details as shown above at any time, on the condition only that they so inform the other Parties in
the forms specified in this Article. 

 Any notification or communication given in relation to this Agreement or to the transactions provided for herein
must be (i) sent by fax and confirmed by registered letter with request for acknowledgement of receipt sent no later than the following Business Day, (ii) delivered by hand in return for a receipt dated and signed by the addressee, or
(iii) sent by registered mail with request for acknowledgement of receipt, and will be presumed to have been received (i) on the date of the fax, (ii) on the date entered by the addressee on the receipt, if delivered by hand, or
(ii) three (3) Business Days after the date of the stamp affixed by the postal service on the sending receipt, if sent by registered mail. 
  

	 	Article 9.	    APPLICABLE LAW AND JURISDICTION 

The Agreement is subject to French law. 
 Any dispute that arises
under this Agreement or in relation to it will be subject to the exclusive jurisdiction of the courts of competent jurisdiction within the geographic jurisdiction of the Court of Appeals of Paris. 

 

	 	Article 10.	    ENFORCEMENT 

 The Parties acknowledge that the undertakings given
in this Agreement are irrevocable and may, without prejudice to any other remedies or actions, be enforced in the event of revocation or non-performance, and the payment of damages under Article 1142 of the civil code is not considered by the
Parties to be sufficient compensation. 
 This Article will survive the cancellation or expiration of this Agreement for any cause whatsoever. 

 

	 	Article 11.	    GENERAL STIPULATIONS 

  

	11.1	Confidentiality 

 The Parties to this Agreement agree to keep the content of the Agreement confidential
and not to disclose it without the authorization of the other Parties. 
 However, this undertaking of confidentiality will not apply to the documents and
information that might have to be provided in relation to any judicial or arbitral proceeding or pursuant to any statutory or regulatory provision, or in relation to any legal audit proceeding for the purpose of opening the capital of DBV to a new
investor or of the sale of all or part of the Securities of a Party, in which case the usual arrangements for the protection of such information will be made. 
  

	11.2	Entire agreement between the Parties 

 This Agreement constitutes the entire agreement between the
Parties in respect of the purpose hereof, and replaces any prior agreement, whether written or oral, between the Parties having the same purpose. This Agreement may be amended only by a written document signed by all of the Parties. 

 

	11.3	Where provision of Agreement void 

 In the event that any one of the stipulations of the Agreement is
declared to be void or of no effect, in any way and for any reason whatsoever, the Parties agree to cooperate in order to remedy the cause of the nullity determined, so that the Agreement will continue in effect, without interruption, unless that is
impossible. 

	11.4	Agreement to prevail between Parties 

 In the event of inconsistency between the provisions of the
Articles of Association and the provisions of the Agreement, the provisions of the Agreement will prevail. 
  

	11.5	Transfer 

 The rights of the FSI will be for the identical benefit of any assignee of all or part of the
Securities of the FSI (or of its Affiliates), on the condition that the assignee is an Affiliate of the FSI. 
 Executed in Paris on March 9, 2012 

In five (5) original copies 
 FONDS STRATEGIQUE
D’INVESTISSEMENT 
  

	
	 /s/ Thomas Devedjian

	Per: Thomas Devedjian
	Title: Director and member of the Executive Committee

  

	
	 /s/ Maïlys Ferrère

	Per: Maïlys Ferrère
	 Title: Investment Manager

 Pierre-Henri BENHAMOU 
  

	
	 /s/ Pierre-Henry Benahmou

	
	PHYS Participations
	
	 /s/ Pierre-Henry Benahmou

	 Per: Pierre-Henri Benhamou

	 Title: President

 Bertrand DUPONT 
  

	
	 /s/ Bertrand Dupont

	
	DBCS Participations
	
	 /s/ Bertrand Dupont

	Per: Bertrand Dupont
	Title: President
	
	IN THE PRESENCE OF DBV
	
	 /s/ Pierre-Henry Benahmou

	Per: Pierre-Henry Benhamou
	Title: Chief Executive Officer

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