Document:

EX-4.4

 Exhibit 4.4 

THIRD AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

THIS THIRD AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this “Agreement”) is entered into on June 26, 2017 (the
“Effective Date”), by and among 
  

	1.	Zai Lab Limited, an exempted company organized under the laws of the Cayman Islands (the “Company”); 

  

	2.	Zai Lab (Hong Kong) Limited

, a company limited by shares incorporated under the laws of Hong Kong (the “Holdco Subsidiary”); 

  

	3.	

 (Zai Lab (Shanghai) Co., Ltd.), a foreign invested commercial enterprise incorporated under the Laws of the PRC (the “WFOE”); 

 

	4.	

 (Zai Lab (Suzhou) Co., Ltd.), a wholly foreign owned enterprise incorporated under the Laws of the PRC Zai Suzhou (the “Suzhou Co”); 

 

	5.	Zai Lab (Aust) Pty Ltd, a company limited by shares incorporated under the Laws of Australia (the “Aus Co”); 

  

	6.	Zai Lab (US) LLC, a limited liability company incorporated under the laws of the State of Delaware (the “US Co”); 

  

	7.	ZLIP Holding Limited, a company organized under the laws of the Cayman Islands (“ZLIP”); 

  

	8.	ZL Capital Limited, a company limited by shares incorporated under the laws of British Virgin Islands (“ZLCL”); 

  

	9.	ZL China Holding Two Limited, a company limited by shares incorporated under the laws of Hong Kong (“ZL China”); 

  

	10.	each of the Persons listed on Schedule A-1 attached hereto (each such Person, a “Principal” and, collectively, the “Principals”);

  

	11.	each of the Persons listed on Schedule A-2 attached hereto (each such Person, a “Key Holder” and, collectively, the “Key Holders”);

  

	12.	each of the Persons named on Schedule A-3 hereto (each, a “Series A Investor”); 

 

	13.	each of the Persons named on Schedule A-4 hereto (each, a “Series B Investor”); 

 

	14.	each of the Persons named on Schedule A-5 hereto (each, a “Series C Investor” and, together with the Series A Investors and Series B Investors,
collectively, the “Investors”); and 

  

	15.	each of the Persons named on Schedule A-6 hereto (each, a “One Percent Holders”). 

Each of the parties to this Agreement is referred to herein individually as a “Party” and collectively as the
“Parties”. Capitalized terms used herein without definition shall have the meanings set forth in the Subscription Agreement (as defined below). 

 RECITALS 
  

	A	The Company owns 100% of the equity of the Holdco Subsidiary, which holds an interest in 100% of the registered capital of the WFOE. 

 

	B	The Group is engaged in the business of researching, developing and commercializing innovative medicine and other related pharmaceutical products and engaging in other activities ancillary thereto (the
“Business”). The Company seeks expansion capital to grow the Business and, correspondingly, seeks to secure an investment from the Series C Investors, on the terms and conditions set forth in the Subscription Agreement (as defined
below). 

  

	C	The Series A Investors have subscribed for and purchased from the Company, and the Company has issued and sold to the Series A Investors, certain Series A Preferred Shares (as defined below) of the Company on the terms
and conditions set forth in the Series A Preferred Share Subscription Agreement, dated July 21, 2014, by and among the Company, the Series A Investors (including the Additional Investors (as defined therein) who joined such agreement by executing a
joinder agreement) and certain other parties thereto, as amended from time to time. 

  

	D	The Series B Investors have subscribed for and purchased from the Company, and the Company has issued and sold to the Series B Investors, certain Series B Preferred Shares (as defined below) of the Company on the terms
and conditions set forth in the Series B Preferred Share Subscription Agreement dated January 7, 2016 by and among the Company, the Series B Investors and certain other parties thereto. 

 

	E	The Company, the Holdco Subsidiary, the WFOE, certain Principals, the Key Holders, the Series A Investors, the Series B Investors and certain other Person are parties to the Second Amended and Restated Shareholders
Agreement dated January 20, 2016, as amended from time to time (the “Prior Shareholders Agreement”). 

  

	F	The Series C Investors have agreed to subscribe for and purchase from the Company, and the Company has agreed to issue and sell to the Series C Investors, certain Series C Preferred Shares (as defined below) of the
Company on the terms and conditions set forth in the Series C Preferred Share Subscription Agreement dated June 26, 2017 by and among the Company, the Series C Investors and certain other parties thereto (the “Subscription
Agreement”). A capitalization table of the Company’s outstanding share capital at the time of the execution of this Agreement is set forth in Schedule B attached hereto. 

 

	G	The Subscription Agreement provides that the execution and delivery of this Agreement shall be a condition precedent to the consummation of the Closing (as defined in the Subscription Agreement). 

 

	H	The Parties desire to enter into this Agreement and make the respective representations, warranties, covenants and agreements set forth herein on the terms and conditions set forth herein. 

WITNESSETH 
 NOW,
THEREFORE, in consideration of the foregoing recitals, the mutual promises 

  
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hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereto hereby amend and
restate the Prior Shareholders Agreement in its entirety as of the Effective Date as follows: 
  

	1.	Definitions. 

 1.1    The following terms shall have the
meanings ascribed to them below: 
 “Accounting Standards” means generally accepted accounting principles in the U.S.,
applied on a consistent basis. 
 “Affiliate” means, with respect to a Person, any other Person that, directly or
indirectly, Controls, is Controlled by or is under common Control with such Person. In the case of an Investor, the term “Affiliate” also includes (x) any shareholder of the Investor, (y) any of such shareholder’s or
Investor’s general partners or limited partners and (z) the fund manager managing such shareholder or Investor (and general partners, limited partners and officers thereof) and other funds managed by such fund manager. 

Notwithstanding the foregoing, the Parties acknowledge and agree that (a) the names of Sequoia and/or its Affiliates (including “Sequoia
Capital”) are commonly used to describe a variety of entities affiliated with Sequoia (collectively, the “Sequoia Entities”) and are affiliated by ownership or operational relationship and engaged in a broad range of activities
related to investing and securities trading and (b) notwithstanding any other provision of this Agreement to the contrary, this Agreement shall not be binding on, or restrict the activities of, any Sequoia Entity outside of the Sequoia China
Sector Group or Sequoia Entity primarily engaged in investment and trading in the secondary securities market. For purposes of the foregoing, the “Sequoia China Sector Group” means all Sequoia Entities (whether currently existing or
formed in the future) that are principally focused on companies located in, or with connections to, the PRC. For the avoidance of doubt, Sequoia is (x) within the meaning of the Sequoia China Sector Group and (y) not primarily engaged in
investment and trading in the secondary securities market. 
 “Applicable Securities Laws” means (i) with respect to
any offering of securities in the United States, or any other act or omission within that jurisdiction, the securities laws of the United States, including the Exchange Act and the Securities Act, and any applicable Law of any state of the United
States, and (ii) with respect to any offering of securities in any jurisdiction other than the United States, or any related act or omission in that jurisdiction, the applicable Laws of that jurisdiction. 

“Associate” means, with respect to any Person, (1) a corporation or organization (other than the Group Companies) of
which such Person is a director, officer or partner or is, directly or indirectly, the record or beneficial owner of ten percent (10%) or more of any class of Equity Securities of such corporation or organization, (2) any trust or other estate
in which such Person has a substantial beneficial interest or as to which such Person serves as trustee or in a similar capacity, or (3) any parent, sibling, child or spouse of such Person. 

“Auditor” means the Person for the time being performing the duties of auditor of the Company (if any), who shall be one of
the “Big Four” international accounting firms or such other reputable auditor as approved by the Board (including the affirmative vote of the Qiming Director). 

  
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 “Board” or “Board of Directors” means the board of directors of
the Company. 
 “Business Day” means any day that is not a Saturday, Sunday, legal holiday or other day on which
commercial banks are required or authorized by law to be closed in the PRC or the Cayman Islands. 
 “CFC” means a
controlled foreign corporation as defined in the Code. 
 “Charter Documents” means, with respect to a particular legal
entity, the articles or certificate of incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association, articles of association, bylaws, articles of organization, limited liability
company agreement, trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter documents, or equivalent documents, of such entity. 

“Code” means the United States Internal Revenue Code of 1986, as amended. 

“Commission” means (i) with respect to any offering of securities in the United States, the Securities and Exchange
Commission of the United States or any other federal agency at the time administering the Securities Act, and (ii) with respect to any offering of securities in a jurisdiction other than the United States, the regulatory body of the
jurisdiction with authority to supervise and regulate the offering or sale of securities in that jurisdiction. 
 “Consent”
means any consent, approval, authorization, waiver, permit, grant, franchise, concession, agreement, license, exemption or order of, registration, certificate, declaration or filing with, or report or notice to, any Person, including any
Governmental Authority. 
 “Contract” means a contract, agreement, indenture, note, bond, loan, instrument, lease,
mortgage, franchise, license, commitment, purchase order, and other legally binding arrangement, whether written or oral. 

“Control” of a given Person means the power or authority, whether exercised or not, to direct the business, management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by Contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or
power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the board of directors of such Person. The
terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 
 “Covered Person”
has the meaning set forth in the Memorandum and Articles. 
 “Deemed Liquidation Event” means any of the following events:
(i) any consolidation, amalgamation, scheme of arrangement or merger of the Company with or into any other Person or other reorganization in which the shareholders of the Company immediately prior to such consolidation, amalgamation, merger,
scheme of arrangement or reorganization own less than fifty percent (50%) of the Company’s voting power in the aggregate immediately after such consolidation, merger, amalgamation, scheme of arrangement or reorganization, or any transaction or
series of related transactions in which in excess of fifty percent (50%) of the Company’s voting power is transferred; (ii) a sale, transfer, lease or other disposition of all or substantially all of the assets of the Group Companies,
taken as a whole (or any series of related 

  
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transactions resulting in such sale, transfer, lease or other disposition of all or substantially all of the assets of the Group Companies, taken as a whole); or (iii) the exclusive
licensing of all or substantially all of the Group Companies’ Intellectual Property, taken as a whole, to a third party. 

“Director” means a director serving on the Board. 

“Equity Securities” means, with respect to any Person that is a legal entity, any and all shares of capital stock, membership
interests, units, profits interests, ownership interests, equity interests, registered capital, and other equity securities of such Person, and any right, warrant, option, call, commitment, conversion privilege, preemptive right or other right to
acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing. 
 “Exchange
Act” means the United States Securities Exchange Act of 1934, as amended. 
 “Form
F-3” means Form F-3 promulgated by the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

“Form S-3” means Form S-3 promulgated by the
Commission under the Securities Act or any successor form or substantially similar form then in effect. 
 “Governmental
Authority” means any government of any nation or any federation, province or state or any other political subdivision thereof, any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions
of or pertaining to government, including any governmental authority, agency, department, board, commission or instrumentality of the PRC or any other country, or any political subdivision thereof, any court, tribunal or arbitrator, and any
self-regulatory organization. 
 “Governmental Order” means any applicable order, ruling, decision, verdict, decree, writ,
subpoena, mandate, precept, command, directive, consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Authority. 

“Group Company” means each of the Company, Holdco Subsidiary, the WFOE, the Suzhou Co, the Aus Co, the US Co, ZLIP, ZLCL and
ZL China, together with each direct and indirect Subsidiary of the Company, and “Group” refers to all of Group Companies collectively. 

“Holders” means the holders of Registrable Securities who are parties to this Agreement from time to time, and their
permitted transferees that become parties to this Agreement from time to time. 
 “Hong Kong” means the Hong Kong Special
Administrative Region of the People’s Republic of China. 
 “Indebtedness” of any Person means, without duplication,
each of the following of such Person: (i) all indebtedness for borrowed money, (ii) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (other than trade payables entered into in the
ordinary course of business), (iii) all reimbursement or payment obligations 

  
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with respect to letters of credit, surety bonds and other similar instruments, (iv) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so
evidenced that are incurred in connection with the acquisition of properties, assets or businesses, (v) all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case
with respect to any property or assets acquired with the proceeds of such indebtedness, (vi) all obligations that are capitalized, (vii) all obligations to purchase, redeem, retire, defease or otherwise acquire for value any Equity
Securities of such Person, (viii) all obligations in respect of any interest rate swap, hedge or cap agreement, and (ix) all guarantees issued in respect of any Indebtedness of another Person where such Indebtedness is of the nature
described in clauses (i) through (ix) above, but only to the extent of the Indebtedness guaranteed. 
 “Initiating
Holders” means, with respect to a request duly made under Section 2.1 or Section 2.2 to Register any Registrable Securities, the Holders initiating such request. 

“Intellectual Property” means any and all (i) patents, patent rights and applications therefor and reissues,
reexaminations, continuations, continuations-in-part, divisions, and patent term extensions thereof, (ii) inventions (whether patentable or not), discoveries,
improvements, concepts, innovations and industrial models, (iii) registered and unregistered copyrights, copyright registrations and applications, mask works and registrations and applications therefor, author’s rights and works of
authorship (including software, computer programs, source code, object code and executable code, firmware, development tools, files, records and data, and related documentation), (iv) technical information,
know-how, trade secrets, drawings, designs, design protocols, specifications, proprietary data, customer lists, databases, proprietary processes, technology, formulae, and algorithms and other intellectual
property, (v) trade names, trade dress, trademarks, domain names, service marks, logos, business names, and registrations and applications therefor, and (vi) the goodwill symbolized or represented by the foregoing. 

“IPO” means the first firm underwritten registered public offering by the Company of its Ordinary Shares pursuant to a
Registration Statement that is filed with and declared effective by either the Commission under the Securities Act or another Governmental Authority for a public offering in a jurisdiction other than the United States. 

“Key Employees” means the Persons listed on Schedule I to the Subscription Agreement and such other officers, directors,
employees, advisors and consultants of the Group Companies that are deemed to be Key Employees by the Board from time to time. 

“KPCB” means KPCB China Fund II, L.P. or any of its assigns and transferees. 

“Law” or “Laws” means any and all provisions of any applicable constitution, treaty, statute, law,
regulation, ordinance, code, rule, or rule of common law, any governmental approval, concession, grant, franchise, license, agreement, directive, requirement, or other governmental restriction or any similar form of decision of, or determination by,
or any interpretation or administration of any of the foregoing by, any Governmental Authority, in each case as amended, and any and all applicable Governmental Orders. 

“Lien” means any claim, charge, easement, encumbrance, lease, covenant, security interest, lien, option, pledge, rights of
others, or restriction (whether on voting, sale, transfer, disposition or otherwise), whether imposed by Contract, law or equity. 

  
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 “Major Subsidiary” means any Subsidiary of the Company whose revenues, expenses
or profits exceed twenty percent (20%) of the revenues, expenses or profits of the Group for the immediate preceding fiscal year of the Company. 

“Maxway” means Maxway Investment Limited or any of its assigns and transferees. 

“Memorandum and Articles” means the Third Amended and Restated Memorandum of Association of the Company and the Third Amended
and Restated Articles of Association of the Company, as each may be amended and/or restated from time to time. 
 “OrbiMed”
means each of OrbiMed Asia Partners II, L.P., and OrbiMed Global Healthcare Master Fund, L.P. or any of their respective assigns and transferees. 

“Ordinary Share Equivalents” means any Equity Security which is by its terms convertible into or exchangeable or exercisable
for Ordinary Shares or other share capital of the Company, including without limitation, the Preferred Shares. 
 “Ordinary
Shares” means the Company’s ordinary shares, par value US$0.00001 per share. 
 “Person” means any
individual, corporation, partnership, limited partnership, proprietorship, association, limited liability company, firm, trust, estate or other enterprise or entity. 

“PFIC” means passive foreign investment company as defined in the Code. 

“PRC” means the People’s Republic of China, but solely for the purposes of this Agreement, excluding Hong Kong, the
Macau Special Administrative Region and the islands of Taiwan. 
 “Preferred Directors” means the Qiming Director and the
Series B Director, each a “Preferred Director”. 
 “Preferred Shares” means the Series A Preferred Shares,
Series B Preferred Shares and Series C Preferred Shares. 
 “Public Official” means any executive, official, or employee of
a Governmental Authority, political party or member of a political party, political candidate; executive, employee or officer of a public international organization; or director, officer or employee or agent of a wholly owned or partially
state-owned or controlled enterprise, including a PRC state-owned or controlled enterprise. 
 “Qiming” means QM 11 Limited
or any of its assigns and transferees. 
 “Qualified IPO” means a firm underwritten public offering of the Ordinary Shares
(or depositary receipts or depositary shares thereof) of the Company in the United States on the New York Stock Exchange or the Nasdaq Global Market pursuant to an effective registration statement under the United States Securities Act of 1933, as
amended, that results in net proceeds to the Company of at least US$75 million (net of underwriting discounts and selling commissions) through the sale of the Ordinary Shares (or depositary receipts or depositary shares thereof) in an IPO or a
secondary offering of such securities. 

  
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 “Registrable Securities” means (i) the Ordinary Shares issued or issuable
upon conversion of the Preferred Shares (ii) any other Ordinary Share Equivalents acquired by an Investor after the date hereof and (iii) any Ordinary Shares issued or issuable as a dividend or other distribution with respect to, in
exchange for, or in replacement of, the shares referenced in clause (i) or (ii) herein; excluding in all cases, however, any of the foregoing sold by a Person in a transaction other than an assignment pursuant to
Section 12.3 and any Registrable Securities which are sold in a registered public offering under the Securities Act or analogous statute of another jurisdiction, or sold pursuant to Rule 144 promulgated under the Securities
Act or analogous rule of another jurisdiction. 
 “Registration” means a registration effected by preparing and filing a
Registration Statement and the declaration or ordering of the effectiveness of that Registration Statement; and the terms “Register” and “Registered” have meanings concomitant with the foregoing. 

“Registration Statement” means a registration statement prepared on Form F-1, F-3, S-1, or S-3 under the Securities Act, or on any comparable form in connection with registration in a jurisdiction other than the
United States. 
 “Requisite Ordinary Holders” means the holders of at least
two-thirds (2/3rds) of the voting power of the then outstanding Ordinary Shares. 

“Requisite Preferred Holders” means the holders of at least fifty one percent (51%) of the voting power of the then
outstanding Preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculated on an as-converted basis). 

“Requisite Series A Holders” means the holders of at least fifty-one percent (51%) of
the voting power of the then outstanding Series A Preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculated on an as-converted basis), which shall include
Qiming. 
 “Requisite Series B Holders” means the holders of at least fifty-one
percent (51%) of the voting power of the then outstanding Series B Preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculated on an as-converted basis). 

“Requisite Series C Holders” means the holders of at least fifty-one percent (51%) of
the voting power of the then outstanding Series C Preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculated on an as-converted basis). 

“Restricted Shares” has the same meaning as defined under the Right of First Refusal & Co-Sale Agreement. 
 “Right of First Refusal & Co-Sale Agreement” means the Right of First Refusal and Co-Sale Agreement, as defined in the Subscription Agreement and as amended from time to time. 

“Rock Springs” means Rock Springs Capital Master Fund LP or any of its assigns and transferees. 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“Sequoia” means Sequoia Capital CV IV Holdco, Ltd., SCC Growth I Holdco A, Ltd., or any of their assigns and transferees.

  
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 “Series A Preferred Shares” means the Series
A-1 Preferred Shares and/or the Series A-2 Preferred Shares. 

“Series A-1 Preferred Shares” means the Series
A-1 Preferred Shares of the Company, par value US$0.00001 per share, with the rights and privileges as set forth in the Memorandum and Articles. 

“Series A-2 Preferred Shares” means the Series
A-2 Preferred Shares of the Company, par value US$0.00001 per share, with the rights and privileges as set forth in the Memorandum and Articles. 

“Series B Preferred Shares” means the Series B-1 Preferred Shares and/or the Series B-2 Preferred Shares. 
 “Series B-1 Preferred
Shares” means the Series B-1 Preferred Shares of the Company, par value US$0.00001 per share, with the rights and privileges as set forth in the Memorandum and Articles. 

“Series B-2 Preferred Shares” means the Series
B-2 Preferred Shares of the Company, par value US$0.00001 per share, with the rights and privileges as set forth in the Memorandum and Articles. 

“Series C Preferred Shares” means the Series C Preferred Shares of the Company, par value US$0.00001 per share, with the
rights and privileges as set forth in the Memorandum and Articles. 
 “Shareholder” means a holder of any Shares. 

“Shares” means the Ordinary Shares and the Preferred Shares. 

“Subject IPO” means the proposed underwritten public offering of the Ordinary Shares (or depositary receipts or depositary
shares thereof) of the Company in the United States on the New York Stock Exchange or the Nasdaq Global Market, as contemplated by the Company on the date hereof and reflected in that certain registration statement on Form F-1 filed by the Company with the United States Securities and Exchange Commission (the “SEC”) on May 30, 2017 for confidential review by the SEC relating to the sale of American depositary
shares by the Company in such offering, with the understanding that such offering will be consummated no later than March 31, 2018. 

“Subsidiary” means, with respect to any given Person, any other Person that is Controlled directly or indirectly by such
given Person. 
 “Transaction Documents” has the meaning set forth in the Subscription Agreement. 

“Transfer” has the same meaning as defined under the Right of First Refusal &
Co-Sale Agreement. 
 “United States Person” means United States person as defined
in Section 7701(a)(30) of the Code. 
 “US” or “U.S.” means the United States of America. 

  
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 “US Investor” means (i) any Investor that is a United States Person and
(ii) any Investor, one or more of the owner of which are, or controlled by, United States Persons. 
 “Vivo” means
collectively, Vivo Capital Fund VIII, L.P., and Vivo Capital Surplus Fund VIII, L.P. or any of its permitted assigns and transferees. 

1.2    Other Defined Terms. The following terms shall have the meanings defined for such terms in the
Sections set forth below: 
  

			
	Additional Number	  	Section 7.4 (ii)
	Agreement	  	Preamble
	Approved Sale	  	Section 11.13(i)
	Arbitration Notice	  	Section 12.5 (i)
	Business	  	Recitals
	Company	  	Preamble
	Company Industry Segment	  	Section 12.24
	Confidential Information	  	Section 11.11(i)
	Deed of Adherence	  	Section 12.3
	Dispute	  	Section 12.5(i)
	Drag Holders	  	Section 11.13(i)
	Drag Notice	  	Section 11.13(i)
	Effective Date	  	Preamble
	ESOP	  	Section 7.3(ii)
	Exempt Registrations	  	Section 3.4
	First Participation Notice	  	Section 7.4(i)
	First Participation Period	  	Section 7.4(i)
	HKIAC	  	Section 12.5(ii)
	Holdco Subsidiary	  	Preamble
	ICC Rules	  	Section 12.5(ii)
	Information Rights	  	Section 8.1(viii)
	Inspection Rights	  	Section 8.2
	Investors	  	Preamble
	Key Holders	  	Preamble
	Major Holder	  	Section 8.1
	MFN Notice	  	Section 11.12
	New Securities	  	Section 7.3
	Offeror	  	Section 11.13(i)
	Oversubscription Participants	  	Section 7.4(ii)
	Participating Rights Holders	  	Section 7.4(i)
	Party	  	Preamble
	Preemptive Right	  	Section 7.1
	Principal	  	Preamble
	Prior Shareholders Agreement	  	Recitals
	Qiming Director	  	Section 9.1(i)
	Pro Rata Share	  	Section 7.2
	Restricted Business	  	Section 11.7
	Rights Holder	  	Section 7.1
	Second Participation Notice	  	Section 7.4(ii)
	Second Participation Period	  	Section 7.4(ii)
	Series A Director	  	Section 9.1(i)

  
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	Series A Investor	  	Preamble
	Series B Director	  	Section 9.1(i)
	Series B Investor	  	Preamble
	Series C Investor	  	Preamble
	Subject Investor	  	Section 11.12
	Subscription Agreement	  	Recitals
	Subsidiary Board	  	Section 9.1(ii)
	Violation	  	Section 5.1(i)
	WFOE	  	Preamble

 1.3    Interpretation. For all purposes of this Agreement, except as
otherwise expressly herein provided, (i) the terms defined in this Section 1 shall have the meanings assigned to them in this Section 1 and include the plural as well as the singular,
(ii) all accounting terms not otherwise defined herein have the meanings assigned under the Accounting Standards, (iii) all references in this Agreement to designated “Sections” and other subdivisions are to the designated
Sections and other subdivisions of the body of this Agreement, (iv) pronouns of either gender or neuter shall include, as appropriate, the other pronoun forms, (v) the words “herein,” “hereof” and “hereunder”
and other words of similar import refer to this Agreement as a whole and not to any particular Section or other subdivision, (vi) all references in this Agreement to designated Schedules, Exhibits and Appendices are to the Schedules, Exhibits
and Appendices attached to this Agreement, (vii) references to this Agreement, any other Transaction Documents and any other document shall be construed as references to such document as the same may be amended, supplemented or novated from
time to time, (viii) the term “or” is not exclusive, (ix) the terms “shall,” “will,” and “agrees” are mandatory, and the term “may” is permissive, (x) the phrase “directly or
indirectly” means directly, or indirectly through one or more intermediate Persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning, (xi) the term “voting power” refers
to the number of votes attributable to the Shares (on an as-converted basis) in accordance with the terms of the Memorandum and Articles, (xii) the headings used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement, (xiii) references to laws include any such law modifying, re-enacting, extending or made pursuant to the same or which is
modified, re-enacted, or extended by the same or pursuant to which the same is made, and (xiv) all references to dollars or to “US$” are to currency of the United States of America and all
references to RMB are to currency of the PRC (and each shall be deemed to include reference to the equivalent amount in other currencies). 
  

	2.	Demand Registration. 

 2.1    Registration Other Than on
Form F-3 or Form S-3. Subject to the terms of this Agreement, at any time or from time to time after the earlier of (i) the sixth (6th) anniversary of the
Effective Date or (ii) the date that is six (6) months after the consummation of an IPO (other than, in the case of Holders under clauses (a) and (b) below, the Subject IPO), Holders holding ten percent (10%) or more of the voting
power of (a) the then outstanding Registrable Securities held by all Holders, or (b) the then outstanding Series B Preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculated on an as-converted basis) or (c) the then outstanding Series C preferred Shares and Ordinary Shares converted therefrom (voting together as a single class and calculate on an
as-converted basis) may request in writing that the Company effect a Registration on any internationally recognized exchange of Registrable Securities having an anticipated aggregate offering price

  
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of US$10,000,000. Upon receipt of such a request, the Company shall (x) promptly give written notice of the proposed Registration to all other Holders and (y) as soon as practicable,
use its commercially reasonable efforts to cause the Registrable Securities specified in the request, together with any Registrable Securities of any Holder who requests in writing to join such Registration within fifteen (15) days after the
Company’s delivery of written notice, to be Registered and/or qualified for sale and distribution in such jurisdiction as the Initiating Holders may request. The Company shall be obligated to consummate no more than three (3) Registrations
pursuant to this Section 2.1 that have been declared and ordered effective. 

2.2    Registration on Form F-3 or Form S-3. The Company shall use its best efforts to qualify for registration on Form F-3 or Form S-3. Subject to the terms of
this Agreement, if the Company qualifies for registration on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United
States), any Holder may request the Company to file, in any jurisdiction in which the Company has had a registered underwritten public offering, a Registration Statement on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United States), including without limitation any registration statement filed under the Securities Act providing for the registration of,
and the sale on a continuous or a delayed basis by the Holders of, all of the Registrable Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission. Upon receipt of such a request, the
Company shall (i) promptly give written notice of the proposed Registration to all other Holders and (ii) as soon as practicable, use its reasonable best efforts to cause the Registrable Securities specified in the request, together with
any Registrable Securities of any Holder who requests in writing to join such Registration within fifteen (15) days after the Company’s delivery of written notice, to be Registered and qualified for sale and distribution in such
jurisdiction. The Company shall be obligated to consummate no more than two (2) Registrations that have been declared and ordered effective within any twelve (12)-month period pursuant to this Section 2.2. 

2.3    Right of Deferral. 

(i)    The Company shall not be obligated to Register or qualify Registrable Securities pursuant to this
Section 2: 
 (1)    if, within ten (10) days of the receipt of any request of the
Holders to Register any Registrable Securities under Section 2.1 or Section 2.2, the Company gives notice to the Initiating Holders of its bona fide intention to effect the filing for its own
account of a Registration Statement of Ordinary Shares within sixty (60) days of receipt of that request; provided, that the Company is actively employing in good faith its reasonable best efforts to cause that Registration Statement to
become effective within sixty (60) days of receipt of that request; provided, further, that the Holders are entitled to join such Registration in accordance with Section 3 (other than an Exempt
Registration); 
 (2)    during the period starting with the date of filing by the Company of, and ending six
(6) months following the effective date of any Registration Statement pertaining to Ordinary Shares of the Company other than an Exempt Registration; provided, that the Holders are entitled to join such Registration in accordance with
Section 3; 
 (3)    with respect to the registration on Form
F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United States), if such form is not available for such offering by the Holders,
or if the Holders, together with the holders of 

  
 12 

 
any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of
less than US$2,000,000; or 
 (4)    in any jurisdiction in which the Company would be required to be qualified to do
business or execute a general consent to service of process in effecting such Registration or qualification, unless the Company is already subject to service of process in such jurisdiction. 

(ii)    If, after receiving a request from Holders pursuant to Section 2.1 or
Section 2.2 hereof, the Company furnishes to the Holders a certificate signed by the chief executive officer of the Company stating that, in the good faith judgment of the Board, it would be materially detrimental to the
Company or its members for a Registration Statement to be filed in the near future, then the Company shall have the right to defer such filing for a period during which such filing would be materially detrimental, provided, that the Company
may not utilize this right for more than ninety (90) days on any one occasion or more than once during any twelve (12) month period; provided, further, that the Company may not Register any other Equity Securities during such
period (except for Exempt Registrations). 
 2.4    Underwritten Offerings. If, in connection with a
request to Register Registrable Securities under Section 2.1 or Section 2.2, the Initiating Holders seek to distribute such Registrable Securities in an underwritten offering, they shall so advise
the Company as a part of the request, and the Company shall include such information in the written notice to the other Holders described in Section 2.1 and Section 2.2. In such event, the right of
any Holder to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such underwritten offering and the inclusion of such Holder’s Registrable Securities in the underwritten
offering (unless otherwise mutually agreed by the Initiating Holders and such Holder) to the extent provided in this Section 2.4. All Holders proposing to distribute their Registrable Securities through such underwritten
offering shall enter into an underwriting agreement in customary form with the underwriter or underwriters of internationally recognized standing selected for such underwritten offering by the Company and reasonably acceptable to the holders of at
least two-thirds (2/3rds) of the voting power of all Registrable Securities proposed to be included in such Registration. Notwithstanding any other provision of this Agreement, if the managing underwriter
advises the Company that marketing factors (including without limitation the aggregate number of securities requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell securities pursuant to the
Registration) require a limitation of the number of Registrable Securities to be underwritten in a Registration pursuant to Section 2.1 or Section 2.2, the underwriters may exclude up to
seventy-five percent (75%) of the Registrable Securities requested to be Registered but only after first excluding all other Equity Securities from the Registration and underwritten offering and so long as the number of shares to be included in the
Registration on behalf of the Holders is allocated among all participating Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested by such participating Holders to be included; provided that
Initiating Holders representing a majority in voting power of Registrable Securities requested to be registered by all the Initiating Holders shall have the right to withdraw their request for Registration from the underwriting by written notice to
the Company and the underwriters delivered at least ten (10) days prior to the effective date of the Registration Statement, and such withdrawal request for Registration shall not be deemed to constitute one of the Registration rights granted
pursuant to Section 2.1 or Section 2.2, as the case may be; provided further that if any Holder disapproves 

  
 13 

 
the terms of any underwriting, the Holder may also elect to withdraw therefrom by written notice to the Company and the underwriters delivered at least ten (10) days prior to the effective
date of the Registration Statement. Any Registrable Securities excluded or withdrawn from such underwritten offering shall be withdrawn from the Registration. To facilitate the allocation of shares in accordance with the above provisions, the
Company or the underwriters may round the number of shares allocated to a Holder to the nearest one hundred (100) shares. 
  

	3.	Piggyback Registrations. 

 3.1    Registration of the
Company’s Securities. Subject to the terms of this Agreement, if the Company proposes to Register for its own account any of its Equity Securities, or for the account of any holder of Equity Securities any of such
holder’s Equity Securities, in connection with the public offering of such securities (except for Exempt Registrations or the Subject IPO), the Company shall promptly give each Holder written notice of such Registration and, upon the written
request of any Holder given within fifteen (15) days after delivery of such notice, the Company shall use its reasonable best efforts to include in such Registration any Registrable Securities thereby requested to be Registered by such Holder.
If a Holder decides not to include all or any of its Registrable Securities in such Registration by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent Registration Statement
or Registration Statements as may be filed by the Company, all upon the terms and conditions set forth herein. 

3.2    Right to Terminate Registration. The Company shall have the right to terminate or withdraw any
Registration initiated by it under Section 3.1 prior to the effectiveness of such Registration, whether or not any Holder has elected to participate therein. The expenses of such withdrawn Registration shall be borne by the
Company in accordance with Section 4.3. 
 3.3    Underwriting Requirements.

 (i)    In connection with any offering involving an underwriting of the Company’s Equity Securities, the Company
shall not be required to Register the Registrable Securities of a Holder under this Section 3 unless such Holder’s Registrable Securities are included in the underwritten offering and such Holder enters into an
underwriting agreement in customary form with the underwriter or underwriters of internationally recognized standing selected by the Company and setting forth such terms for the underwritten offering as have been agreed upon between the Company and
the underwriters. In the event the underwriters advise Holders seeking Registration of Registrable Securities pursuant to this Section 3 in writing that market factors (including the aggregate number of Registrable
Securities requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell securities pursuant to the Registration) require a limitation of the number of Registrable Securities to be underwritten, the
underwriters may exclude up to seventy-five percent (75%) of the Registrable Securities requested to be Registered, but in any case only after first excluding all other Equity Securities (except for securities sold for the account of the Company)
from the Registration and underwriting and so long as the Registrable Securities to be included in such Registration on behalf of any participating Holders are allocated among all participating Holders in proportion, as nearly as practicable, to the
respective amounts of Registrable Securities requested by such Holders to be included. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to a
Holder to the nearest one hundred (100) shares. 

  
 14 

 (ii)    If any Holder disapproves the terms of any underwriting, the Holder
may elect to withdraw therefrom by written notice to the Company and the underwriters delivered at least ten (10) days prior to the effective date of the Registration Statement. Any Registrable Securities excluded or withdrawn from the
underwritten offering shall be withdrawn from the Registration. 
 3.4    Exempt Registrations. The
Company shall have no obligation to Register any Registrable Securities under this Section 3 in connection with a Registration by the Company (i) relating solely to the sale of securities to participants in a Company
share plan or (ii) relating to a corporate reorganization or other transaction under Rule 145 of the Securities Act (or comparable provision under the Laws of another jurisdiction, as applicable) (collectively, “Exempt
Registrations”). 
  

	4.	Registration Procedures. 

 4.1    Registration Procedures
and Obligations. Whenever required under this Agreement to effect the Registration of any Registrable Securities held by the Holders, the Company shall, as expeditiously as reasonably possible: 

(i)    Prepare and file with the Commission a Registration Statement with respect to those Registrable Securities and use
its reasonable best efforts to cause that Registration Statement to become effective, and to keep the Registration Statement effective for the period ending on the earlier of the date which is one hundred and eighty (180) days from the
effective date of the Registration Statement or until the distribution thereunder has been completed; 
 (ii)    Prepare
and file with the Commission amendments and supplements to that Registration Statement and the prospectus used in connection with the Registration Statement as may be necessary to keep such Registration Statement effective for the period specified
in Section 4.1(i) above and to comply with the provisions of Applicable Securities Laws with respect to the disposition of all Registrable Securities covered by the Registration Statement; 

(iii)    Furnish to the selling Holders the number of copies of a prospectus, including a preliminary prospectus, required
by Applicable Securities Laws, and any other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities covered by the Registration Statement; 

(iv)    Use its reasonable best efforts to Register and qualify the securities covered by the Registration Statement under
the securities Laws of any jurisdiction, as reasonably requested by the Holders, provided, that the Company shall not be required to qualify to do business that it would not otherwise be required to qualify or file a general consent to service of
process in any such jurisdictions; 
 (v)    In the event of any underwritten public offering, enter into and perform
its obligations under an underwriting agreement, in customary form, with the managing underwriter(s) of the offering; 

(vi)    Promptly notify each selling Holder under the Registration Statement at any time when a prospectus relating
thereto is required to be delivered under Applicable Securities Laws of (a) the issuance of any stop order by the Commission, or (b) the happening 

  
 15 

 
of any event or the existence of any condition as a result of which any prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances under which they were made, or if in the opinion of counsel for the Company it is necessary to
supplement or amend such prospectus to comply with Law, and at the request of any such selling Holder, promptly prepare and furnish to such selling Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be
necessary so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances under which they were made, and such prospectus, as supplemented or amended, shall comply with Law; 

(vii)    Furnish, at the request of any selling Holder, on the date that such Registrable Securities are delivered for
sale in connection with a Registration pursuant to this Agreement, (A) an opinion, dated the date of the sale, of the external counsel of reputable standing, representing the Company for the purposes of the Registration, in form and substance
as is customarily given to underwriters in an underwritten public offering; and (B) comfort letters dated as of (x) the effective date of the registration statement covering such Registrable Securities, and (y) the date of the sale as
contemplated in Rule 159 under the Securities Act, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public
offering; 
 (viii)    Otherwise comply with all applicable Law and rules and regulations of the Commission to the
extent applicable to the Registration Statement and use its reasonable best efforts to make generally available to its security holders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an earnings statement
satisfying the provisions of Section 11(a) of the Act, no later than forty-five (45) days after the end of a twelve (12) month period (or ninety (90) days, if such period is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective date of such registration statement, which statement shall cover such twelve (12) month period, subject to any proper and necessary extensions; 

(ix)    Not, without the written consent of the holders of at least two-thirds
(2/3rds) of voting power of the Registrable Securities covered by the Registration Statement, make any offer relating to the Equity Securities that would constitute a “free writing prospectus,” as defined in Rule 405 promulgated under
the Act; 
 (x)    Provide a transfer agent and registrar for all Registrable Securities Registered pursuant to the
Registration Statement and, where applicable, a number assigned by the Committee on Uniform Securities Identification Procedures for all those Registrable Securities, in each case not later than the effective date of the Registration Statement; and

 (xi)    Take all reasonable actions necessary to list the Registrable Securities on the primary exchange on which the
Company’s securities are or will be listed or traded. 
 4.2    Information from Holder. It shall be
a condition precedent to the obligations of the Company to take any action pursuant to this Agreement with respect to the Registrable Securities of any selling Holder that such selling Holder shall furnish to the Company such information regarding
itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be required to effect the Registration of such Holder’s Registrable Securities. 

  
 16 

 4.3    Expenses of Registration. All expenses, other
than the underwriting discounts and selling commissions applicable to the sale of Registrable Securities pursuant to this Agreement (which shall be borne by the Holders requesting Registration on a pro rata basis in proportion to their respective
numbers of Registrable Securities sold in such Registration), incurred in connection with Registrations, filings or qualifications pursuant to this Agreement, including (without limitation) all Registration, filing and qualification fees,
printers’ and accounting fees, fees and disbursements of counsel for the Company and reasonable fees and disbursement of one counsel for all selling Holders, shall be borne by the Company. The Company shall not, however, be required to pay for
any expenses of any Registration proceeding begun pursuant to Section 2.1 or Section 2.2 of this Agreement if the Registration request is subsequently withdrawn at the request of Initiating Holders
holding at least a majority of the voting power of the Registrable Securities requested to be Registered by all Initiating Holders in such Registration for any reason not due to the fault of the Company or any material adverse change to the
financial, economic or political condition of the industry or industries in which the Company operates (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be thereby
Registered in the withdrawn Registration) unless the Holders of at least a majority of the voting power of the Registrable Securities then outstanding agree that such registration constitutes the use by the Holders of one (1) demand
registration pursuant to Section 2.1 or Section 2.2 (in which case such registration shall also constitute the use by all Holders of Registrable Securities of one (1) such demand
registration). 
  

	5.	Registration-Related Indemnification. 

 5.1    Company Indemnity.

 (i)    In the event of a Registration under this Agreement, to the maximum extent permitted by Law, the Company
will indemnify and hold harmless each selling Holder, such Holder’s partners, officers, employees, directors, shareholders, members, and legal counsel, any underwriter (as defined in the Securities Act) and each Person, if any, who controls (as
defined in the Securities Act) such Holder or underwriter, against any losses, claims, damages or liabilities (joint or several) to which such Person may become subject, insofar as such losses, claims, damages, or liabilities (or actions in respect
thereof) arise out of or are based upon any of the following statements, omissions or violations (each a “Violation”): (a) any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement,
on the effective date thereof (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto), (b) the omission or alleged omission to state in the Registration Statement, on the effective date
thereof (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto), a material fact required to be stated therein or necessary to make the statements therein not misleading, or (c) any
violation or alleged violation by the Company of Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities Laws; provided that the Company will not be liable in any such case if and to the extent any such loss,
claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Person in writing specifically for use in such
Registration Statement (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto). The Company will reimburse, as incurred, each such Person for any legal or other expenses reasonably
incurred by such Person in connection with investigating or defending any such loss, claim, damage, liability or action. 

  
 17 

 (ii)    The indemnity agreement contained in this
Section 5.1 shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld or delayed), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises solely out of or is solely based upon a Violation that occurs in reliance upon and in
conformity with written information furnished for use in connection with such Registration by any such Holder, such Holder’s partners, officers, directors, and legal counsel, any underwriter (as defined in the Securities Act) and each Person,
if any, who controls (as defined in the Securities Act) such Holder or underwriter. 
 5.2    Holder Indemnity.

 (i)    In the event of a Registration under this Agreement, to the maximum extent permitted by Law, each selling
Holder that has included Registrable Securities in a Registration will, severally and not jointly, indemnify and hold harmless the Company, its directors and officers, legal counsel, any underwriter, any other Holder selling securities in connection
with such Registration and each Person, if any, who controls (within the meaning of the Securities Act) the Company, such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or several) to which any such Person may
become subject, under Applicable Securities Laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent)
that such Violation occurs solely in reliance upon and in conformity with information furnished by such Holder in writing specifically for use in such Registration Statement (including any preliminary prospectus or final prospectus contained therein
or any amendments or supplements thereto); and each such Holder will reimburse, as incurred, any Person intended to be indemnified pursuant to this Section 5.2, for any legal or other expenses reasonably incurred by such
Person in connection with investigating or defending any such loss, claim, damage, liability or action. No selling Holder’s liability under this Section 5.2 (when combined with any amounts paid by such Holder pursuant
to Section 5.4) shall exceed the net proceeds received by such Holder from the offering of securities made in connection with that Registration. 

(ii)    The indemnity contained in this Section 5.2 shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld or delayed). 

5.3    Notice of Indemnification Claim. Promptly after receipt by an indemnified party under
Section 5.1 or Section 5.2 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any
indemnifying party under Section 5.1 or Section 5.2, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate
in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the indemnifying parties. An indemnified party (together with
all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the reasonably incurred fees and expenses to 

  
 18 

 
be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Section 5 except to the extent such failure is materially prejudicial to the indemnifying party’s ability to defend such actions. No indemnifying party, in the defense of any such claim
or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to such
indemnified party of a release from all liability in respect to such claim or litigation. 

5.4    Contribution. If any indemnification provided for in Section 5.1 or
Section 5.2 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault
of the indemnifying party, on the one hand, and of the indemnified party, on the other, in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material
fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided,
however, that, in any such case: (A) no Holder will be required to contribute any amount (after combined with any amounts paid by such Holder pursuant to Section 5.2) in excess of the net proceeds to such Holder
from the sale of all such Registrable Securities offered and sold by such Holder pursuant to the applicable Registration Statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. 

5.5    Underwriting Agreement. To the extent that the provisions on indemnification and contribution
contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

5.6    Survival. The obligations of the Company and Holders under this Section 5
shall survive the completion of any offering of Registrable Securities in a Registration Statement under this Agreement, regardless of the expiration of any statutes of limitation or extensions of such statutes. 

 

	6.	Additional Registration-Related Undertakings. 

6.1    Reports under the Exchange Act. With a view to making available to the Holders the benefits of Rule
144 promulgated under the Securities Act and any comparable provision of any Applicable Securities Laws that may at any time permit a Holder to sell securities of the Company to the public without Registration or pursuant to a Registration on Form F-3 or Form S-3 (or any comparable form in a jurisdiction other than the United States), the Company agrees to: 

  
 19 

 (i)    make and keep public information available, as those terms are
understood and defined in Rule 144 (or comparable provision, if any, under Applicable Securities Laws in any jurisdiction where the Company’s securities are listed), at all times following ninety (90) days after the effective date of the
first Registration under the Securities Act filed by the Company for an offering of its securities to the general public; 

(ii)    file with the Commission in a timely manner all reports and other documents required of the Company under all
Applicable Securities Laws; and 
 (iii)    at any time following ninety (90) days after the effective date of the
first Registration under the Securities Act filed by the Company for an offering of its securities to the general public by the Company, promptly furnish to any Holder holding Registrable Securities, upon request (a) a written statement by the
Company that it has complied with the reporting requirements of all Applicable Securities Laws at any time after it has become subject to such reporting requirements or, at any time after so qualified, that it qualifies as a registrant whose
securities may be resold pursuant to Form F-3 or Form S-3 (or any form comparable thereto under Applicable Securities Laws of any jurisdiction where the Company’s
securities are listed), (b) a copy of the most recent annual or quarterly report of the Company and such other reports and documents as filed by the Company with the Commission, and (c) such other information as may be reasonably requested in
availing any Holder of any rule or regulation of the Commission, that permits the selling of any such securities without Registration or pursuant to Form F-3 or Form S-3
(or any form comparable thereto under Applicable Securities Laws of any jurisdiction where the Company’s securities are listed). 

6.2    Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company
shall not, without the written consent of holders of at least two-thirds (2/3rds) of the voting power of the then outstanding Registrable Securities held by all Holders (calculated on an as-converted to Ordinary Share basis), enter into any agreement with any holder or prospective holder of any Equity Securities of the Company that would allow such holder or prospective holder (i) to include
such Equity Securities in any Registration filed under Section 2 or Section 3, unless under the terms of such agreement such holder or prospective holder may include such Equity Securities in any
such Registration only to the extent that the inclusion of such Equity Securities will not reduce the amount of the Registrable Securities of the Holders that are included, (ii) to demand Registration of their Equity Securities, or
(iii) to cause the Company to include such Equity Securities in any Registration filed under Section 2 or Section 3 hereof on a basis pari passu with or more favorable to such holder or
prospective holder than is provided to the Holders of Registrable Securities. 
 6.3    “Market Stand-Off” Agreement. Each holder of Registrable Securities and each One Percent Holder agrees, if so required by the managing underwriter(s), that it will not during the period commencing on the
date of the final prospectus relating to the Company’s IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days from the date of such final
prospectus) (i) lend, offer, pledge, hypothecate, hedge, sell, make any short sale of, loan, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or
otherwise transfer or dispose of, directly or indirectly, any Equity Securities of the Company owned immediately prior to the date of the final prospectus relating to the IPO (other than those included in such offering), or (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such Equity Securities, whether any such transaction described 

  
 20 

 
in clause (i) or (ii) above is to be settled by delivery of Equity Securities of the Company or such other securities, in cash or otherwise; provided, that (a) the forgoing
provisions of this Section shall not apply to the sale of any securities of the Company to an underwriter pursuant to any underwriting agreement, and shall not be applicable to any Holder unless all directors, officers and all other holders of at
least one percent (1%) of the outstanding share capital of the Company (calculated on an as-converted to Ordinary Share basis) must be bound by restrictions at least as restrictive as those applicable to any
such Holder pursuant to this Section, (y) this Section shall not apply to a Holder to the extent that any other Person subject to substantially similar restrictions is released in whole or in part, and (z) the lockup agreements shall
permit a Holder to transfer their Registrable Securities to their respective Affiliates so long as the transferees enter into the same lockup agreement. The Investors agree to execute and deliver to the underwriters a
lock-up agreement containing substantially similar terms and conditions as those contained herein. 

6.4    Termination of Registration Rights. The registration rights set forth in
Section 2 and Section 3 of this Agreement shall terminate with respect to any Holder upon the earlier of: (i) the date of the completion of a Deemed Liquidation Event, (ii) the date that
is five (5) years following the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors , and (iii) the date as such Holder may sell all its Registrable
Securities under Rule 144 of the Securities Act in any ninety (90)-day period. 

6.5    Exercise of Ordinary Share Equivalents. Notwithstanding anything to the contrary provided in this
Agreement, the Company shall have no obligation to Register Registrable Securities which, if constituting Ordinary Share Equivalents, have not been exercised, converted or exchanged, as applicable, for Ordinary Shares as of the effective date of the
applicable Registration Statement, but the Company shall cooperate and facilitate any such exercise, conversion or exchange as requested by the applicable Holder. 

6.6    Intent. The terms of Sections 2 through 6 are drafted primarily in contemplation of an
offering of securities in the United States of America. The parties recognize, however, the possibility that securities may be qualified or registered for offering to the public in a jurisdiction other than the United States of America where
registration rights have significance or that the Company might effect an offering in the United States of America in the form of American Depositary Receipts or American Depositary Shares. Accordingly: 

(i)    it is their intention that, whenever this Agreement refers to a Law, form, process or institution of the United
States of America but the parties wish to effectuate qualification or registration in a different jurisdiction where registration rights have significance, reference in this Agreement to the Laws or institutions of the United States shall be read as
referring, mutatis mutandis, to the comparable Laws or institutions of the jurisdiction in question; and 

(ii)    it is agreed that the Company will not undertake any listing of American Depositary Receipts, American Depositary
Shares or any other security derivative of the Ordinary Shares unless arrangements have been made reasonably satisfactory to the Requisite Preferred Holders to ensure that the spirit and intent of this Agreement will be realized and that the Company
is committed to take such actions as are necessary such that the Holders will enjoy rights corresponding to the rights hereunder to sell their Registrable Securities in a public offering in the United States of America as if the Company had listed
Ordinary Shares in lieu of such derivative securities. 

  
 21 

	7.	Preemptive Right. 

 7.1    General. The Company hereby
grants to each holder of Preferred Shares (a “Rights Holder”) the right of first refusal to purchase such Rights Holder’s Pro Rata Share (as defined below) (and any oversubscription, as provided below) of all (or any part) of
any New Securities (as defined below) that the Company may from time to time issue after the date of this Agreement (the “Preemptive Right”). 

7.2    Pro Rata Share. A Rights Holder’s “Pro Rata Share” for purposes of the
Preemptive Rights is the ratio of (a) the number of Ordinary Shares (including Preferred Shares on a fully diluted, as-converted basis) held by such Rights Holder, to (b) the total number of Ordinary
Shares (including Preferred Shares on a fully diluted, as-converted basis) then outstanding immediately prior to the issuance of New Securities giving rise to the Preemptive Rights. 

7.3    New Securities. For purposes hereof, “New Securities” shall mean any Equity
Securities of the Company issued after the date hereof, except for: 
 (i)    any Equity Securities issued upon
conversion or exercise of options, warrants or convertible securities existing as of the Effective Date; 
 (ii)     any
Ordinary Shares and/or options or warrants therefor issued to employees, officers, directors, contractors, advisors or consultants of the Group Companies pursuant to the Company’s equity incentive, purchase or participation plan, employee share
option plan or similar plan duly approved by the Board (including the affirmative vote of the Preferred Directors) and approved in accordance with Section 10 (each such plan, an “ESOP”); 

(iii)    any Equity Securities of the Company issued in connection with any share split, share dividend, reclassification
or other similar event as approved by the Board; 
 (iv)    any Equity Securities of the Company issued pursuant to a
registered public offering approved by the Board (including the affirmative vote of the Preferred Directors) and approved in accordance with Section 10; 

(v)    any Equity Securities of the Company issued pursuant to the acquisition of another corporation or entity by the
Company by consolidation, merger, purchase of assets, or other reorganization in which the Company acquires, in a single transaction or series of related transactions, all or substantially all assets of such other corporation or entity, or fifty
percent (50%) or more of the equity ownership or voting power of such other corporation or entity, or in connection with a bank financing, equipment leasing, licensing or strategic alliance arrangement, in any case, duly approved by the Board
(including the affirmative vote of the Preferred Directors) and approved in accordance with Section 10; 

(vi)    any Ordinary Shares issued upon the conversion of the Preferred Shares; 

(vii)    any Series C Preferred Shares issued to any Person pursuant to the Subscription Agreement; and 

(viii)    any Equity Securities that are otherwise excluded by written consent of the Requisite Series A Holders, the
Requisite Series B Holders and the Requisite Series C Holders. 

  
 22 

 7.4    Procedures. 

(i)    First Participation Notice. In the event that the Company proposes to undertake an issuance of New
Securities (in a single transaction or a series of related transactions), it shall give to each Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the amount and type
of New Securities and the price and the general terms upon which the Company proposes to issue such New Securities. Each Rights Holder shall have ten (10) Business Days from the date of receipt of any such First Participation Notice (the
“First Participation Period”) to agree in writing to purchase up to such Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by
giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Rights Holder’s Pro Rata Share) (the “Participating Rights Holders”). If any Rights Holder fails to so
respond in writing within such ten (10) Business Day period, then such Rights Holder shall forfeit the right hereunder to purchase its Pro Rata Share of such New Securities, but shall not be deemed to forfeit any right with respect to any other
issuance of New Securities. 
 (ii)    Second Participation Notice; Oversubscription. If any Rights Holder fails
or declines to exercise its Preemptive Rights in accordance with subsection (i) above, the Company shall promptly give written notice (the “Second Participation Notice”) to Participating Rights Holders who exercised in
full their Preemptive Rights (the “Oversubscription Participants”) in accordance with subsection (i) above. Each Oversubscription Participant shall have five (5) Business Days from the date of receipt of the Second
Participation Notice (the “Second Participation Period”) to notify the Company of its desire to purchase more than its Pro Rata Share of the New Securities, stating the number of the additional New Securities it proposes to buy (the
“Additional Number”). Such notice may be made by telephone if confirmed by notice in writing within two (2) Business Days thereafter. If the oversubscription by Oversubscription Participants exceeds the total number of the
remaining New Securities available for purchase, each Oversubscription Participant will be cut back by the Company with respect to its oversubscription to such number of remaining New Securities equal to the lesser of (x) the Additional Number
and (y) the product obtained by multiplying (i) the number of the remaining New Securities available for subscription by (ii) a fraction, the numerator of which is the number of Ordinary Shares (including Preferred Shares on an as-converted basis) held by such Oversubscription Participant and the denominator of which is the total number of Ordinary Shares (including Preferred Shares on an
as-converted basis) held by all the Oversubscription Participants. 

(iii)    The closing of the issuance of New Securities to the Participating Rights Holders shall take place on such
Business Day as specified by the Company in writing by not less than ten (10) Business Days’ written notice delivered following the expiration of the First Participation Period, or if applicable, the Second Participation Period. 

7.5    Failure to Exercise. Upon the expiration of the First Participation Period, or if applicable, Second
Participation Period, the Company shall have one hundred twenty (120) days thereafter to complete the sale of the New Securities described in the First Participation Notice with respect to which the Preemptive Rights hereunder were not
exercised at the same or higher price, and upon non-price terms not more favorable to the purchasers thereof, than specified in the First Participation Notice. In the event that the Company has not issued and
sold all such New Securities within such one hundred twenty (120) day period, then the Company shall not thereafter issue or sell the unissued and unsold New Securities without again first offering such New Securities to the Rights Holders
pursuant to this Section 7. 

  
 23 

 7.6    Termination. The Preemptive Right shall terminate upon
the earlier of: (i) immediately prior to the completion of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors or (ii) upon a Deemed Liquidation Event. 

 

	8.	Information and Inspection Rights. 

 8.1    Delivery of
Financial Statements. The Company shall deliver to (a) each Rights Holder holding more than ten percent (10%) of the Company’s Ordinary Shares (calculated on a fully diluted and as-converted
basis) (each, a “Major Holder”), (b) Maxway (so long as Maxway shall continue to hold at least 66% of the Series B Preferred Shares, together with any Ordinary Shares issued upon the conversion of any Series B Preferred Shares,
initially acquired by Maxway) and (c) OrbiMed (so long as OrbiMed shall continue to hold at least 66% of the Series C Preferred Shares, together with any Ordinary Shares issued upon the conversion of any Series C Preferred Shares, initially
acquired by OrbiMed) the following documents or reports: 
 (i)    within one hundred and twenty (120) days after
the end of each fiscal year of the Company, a consolidated income statement and statement of cash flows for the Company for such fiscal year and a consolidated balance sheet for the Company as of the end of the fiscal year, audited and certified by
an Auditor, all prepared in English and in accordance with the Accounting Standards consistently applied throughout the period, provided that the financial statements delivered to Maxway shall be prepared in accordance with International
Financial Reporting Standards and shall be accompanied by the auditors’ report and copies of the audited financial statements for each Major Subsidiary prepared in accordance with the accounting standards applicable to such Major Subsidiary in
the jurisdiction of its formation; 
 (ii)    within forty-five (45) days of the end of each fiscal year, a
consolidated unaudited income statement and statement of cash flows for such fiscal year and a consolidated balance sheet for the Company as of the end of such fiscal year, all prepared in English and in accordance with the Accounting Standards
consistently applied throughout the period (except for customary year-end adjustments and except for the absence of notes), provided that the financial statements delivered to Maxway shall be prepared
in accordance with International Financial Reporting Standards and shall be accompanied by copies of the unaudited financial statements for each Major Subsidiary prepared in accordance with the accounting standards applicable to such Major
Subsidiary in the jurisdiction of its formation; 
 (iii)    within thirty (30) days of the end of each fiscal
quarter, a consolidated unaudited income statement and statement of cash flows for such quarter and a consolidated balance sheet for the Company as of the end of such quarter, all prepared in English and in accordance with the Accounting Standards
consistently applied throughout the period (except for customary year-end adjustments and except for the absence of notes), provided that the financial statements delivered to Maxway shall be prepared
in accordance with International Financial Reporting Standards and shall be accompanied by (x) copies of the unaudited financial statements for each Major Subsidiary prepared in accordance with the accounting standards applicable to such Major
Subsidiary in the jurisdiction of its formation and (y) a quarterly progress report (as prepared for the Board) identifying the Company’s expansion program to date, capital expenditures, and any deviation from plans outlined in the annual
budget of the Company; 

  
 24 

 (iv)    an annual consolidated budget for the Group Companies within thirty
(30) days prior to the beginning of each fiscal year, setting forth: the projected balance sheets, income statements and statements of cash flows for each quarter of such fiscal year of the Group Companies on a consolidated basis and all other
material matters relating to the operation, development and business of the Group Companies which are reasonably necessary to be included in such budget, including an annual operations review (in a pre-agreed
form) describing major activities and changes affecting the Company and the Group, capital investments, achievement against operational targets, and market conditions; with the understanding that the annual budget and business plans shall have been
prepared by the Company and approved by the Board; 
 (v)    copies of all documents or other information sent to all
other shareholders and any reports publicly filed by the Company with any relevant securities exchange, regulatory authority or governmental agency, no later than five (5) days after such documents or information are filed by the Company; 

(vi)    minutes of all shareholder and board meetings for any Group Company, provided that the Company shall not be
required to deliver such minutes if the Board reasonably determines that the content of such minutes consists of any trade secret of the Company or is protected under attorney-client privilege; 

(vii)    immediately following any change to the capitalization of any Group Company, an updated capitalization table of
such Group Company certified by the chief executive officer of the Company; 
 (viii)    within thirty (30) days of
the end of each fiscal quarter, a certification issued by the Company’s chief executive officer and chief financial officer (or finance director) certifying that all transactions between the Company and any of its Affiliates (other than any of
the Group Companies) were arm’s length in nature, with all on-going transactions with the Company’ Affiliates (other than any of the Group Companies) and their basis of calculation disclosed in the
certification; 
 (ix)    as soon as practicable, and in any event within seven (7) Business Days after receiving
such request, any other information reasonably requested by any Major Holder or Maxway (so long as Maxway shall continue to hold at least 50% of the Series B Preferred Shares, together with any Ordinary Shares issued upon the conversion of any
Series B Preferred Shares, acquired by Maxway pursuant to the Subscription Agreement), including, but not limited to, information on the financial, legal, business operation, business strategy and corporate governance aspects of the Group; 

provided, however, that the Company shall not be obligated under this Section 8.1 to provide information (i) that
the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by a confidentiality agreement, in a form reasonably acceptable to the Company) or (ii) the disclosure of which would adversely
affect the attorney-client privilege between a Group Company and its counsel (the above rights, the “Information Rights”). 

  
 25 

 8.2    Inspection Rights. The Group Companies and the Key
Holders covenant and agree that each Major Holder and Maxway (so long as Maxway shall continue to hold at least 50% of the Series B Preferred Shares, together with any Ordinary Shares issued upon the conversion of any Series B Preferred Shares,
initially acquired by Maxway) shall have the right, at its own expense, to reasonably inspect facilities, properties, records and books of each Group Company at any time during regular working hours on reasonable prior notice to such Group Company
and the right to discuss the business, operation, conditions and prospects of a Group Company with any Group Company’s directors, officers and employees, accountants, auditors, legal counsels and investment bankers (the “Inspection
Rights”); provided, however, that a Major Holder and/or Maxway may only exercise such Inspection Rights if it has executed and delivered to the Company a confidentiality agreement, in form and substance reasonably acceptable
to the Company; provided further that the Company shall have no obligation to provide any (i) information or material that contains any proprietary information of any Group Company, the disclosure of which to a Major Holder that is a competitor
or a commercial partner of any Group Company would, in the reasonable judgment of the Board, be materially detrimental to the strategic interests of such Group Company or (ii) information or material the disclosure of which would adversely
affect the attorney-client privilege between a Group Company and its counsel. 
 8.3    Meeting with
Maxway. If requested by Maxway, the Company will meet with Maxway for quarterly or annual business reviews of the Company within sixty (60) days following the conclusion of the applicable period. The rights of Maxway under this
Section 8.3 shall terminate when the Information Rights and Inspection Rights of Maxway terminate. 

8.4    Reserved. 

8.5    Termination. The Information Rights and Inspection Rights shall terminate upon the earlier to occur
of: (i) the consummation of the initial public offering of the securities of the Company, (ii) when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the Exchange Act or (iii) upon
a Deemed Liquidation Event. 
  

	9.	Election of Directors. 

 9.1    Board of Directors. 

(i)    The Company shall have, and the Parties hereto agree to cause the Company to have, a Board consisting of five
(5) directors, with the composition of the Board determined as follows: (a) Ying Du shall have right to designate, appoint, remove, replace and reappoint two (2) directors on the Board, initially to be Marietta Hui Wu and Ying Du,
(b) Qiming shall have right to designate, appoint, remove, replace and reappoint one (1) director (the “Qiming Director” or “Series A Director”) on the Board, initially to be Nisa Leung, (c) the
holders of a majority in voting power of the Series B Preferred Shares shall have right to designate, appoint, remove, replace and reappoint one (1) director (the “Series B Director”) on the Board, initially to be Jianming Yu,
and (d) Ying Du, Qiming and the holders of a majority in voting power of the Series B Preferred Shares, voting together, have the right to designate, appoint, remove, replace and reappoint one (1) director (the “Independent
Director”) on the Board, initially to be Peter Karl Wirth. The chairperson of the Board shall be Ying Du, so long as Ying Du continues to serve as a member of the Board. 

  
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 (ii)    Unless otherwise agreed by at least
two-thirds (2/3) of the members of the Board, each Group Company wholly-owned by the Company shall, and the Parties hereto shall cause (i) each such Group Company to have a board of directors or similar
governing body (the “Subsidiary Board”), (ii) the authorized size of each Subsidiary Board at all times be the same authorized size as the Board, (iii) the composition of each Subsidiary Board to at all times consist of the
same persons as directors as those then on the Board, and (iv) to the extent necessary and subject to applicable Laws, amend its Charter Documents for the purpose of effecting the sub-clauses (i) to
(iii) above. 
 9.2    Voting Agreements. 

(i)    With respect to each election of directors of the Board, each holder of voting securities of the Company shall vote
at each meeting of shareholders of the Company, or in lieu of any such meeting shall give such holder’s written consent with respect to, as the case may be, all of such holder’s voting securities of the Company as may be necessary
(i) to keep the authorized size of the Board at five (5) directors, (ii) to cause the election or re-election as members of the Board, and during such period to continue in office, each of the
individuals designated pursuant to Section 9.1, and (iii) against any nominees not designated pursuant to Section 9.1. 

(ii)    Any Director designated pursuant to Section 9.1 may be removed from the Board, either
for or without cause, only upon the vote or written consent of the Person or class of Persons then entitled to designate such Director pursuant to Section 9.1, and the Parties agree not to seek, vote for or otherwise effect
the removal of any such Director without such vote or written consent. Any Person or class of Persons then entitled to designate any individual to be elected as a Director on the Board shall have the exclusive right at any time or from time to time
to remove any such Director occupying such position and to fill any vacancy caused by the death, disability, retirement, resignation or removal of any Director occupying such position or any other vacancy therein, and each other Party agrees to
cooperate with such Person or class of Persons in connection with the exercise of such right. Each holder of voting securities of the Company agrees to always vote such holder’s respective voting securities of the Company at a meeting of the
members of the Company (and given written consents in lieu thereof) in support of the foregoing. 
 (iii)    The Company
agrees to take such action, and each other Party hereto agrees to take such action, as is necessary to cause the election or appointment to each Subsidiary Board of each director designated to serve on the Board pursuant to
Section 9.1. Upon a removal or replacement of such director from the Board in accordance with Section 9.2(ii), the Company agrees to take such action, and each other Party hereto agrees to take
such action, as is necessary to cause the removal of such director from each Subsidiary Board. 

9.3    Procedure. Subject to the Memorandum and Articles and applicable Laws, the business of the Company
and its Subsidiaries shall be managed by or under the direction of the Board. The Board shall hold no less than one (1) board meeting during each fiscal quarter. A meeting of the Board and each Subsidiary Board shall only proceed where
there are present (whether in person or by means of a conference telephone or any other equipment which allows all participants in the meeting to speak to and hear each other simultaneously) a majority of all directors of the Board or Subsidiary
Board then in office, provided that such majority includes at least one (1) Preferred Director, and the Parties shall cause the foregoing to be the quorum requirements for the Board and each Subsidiary Board.
Notwithstanding the foregoing, if notice of the board meeting has been duly delivered to all directors of the Board or the 

  
 27 

 
applicable Subsidiary Board seven (7) days prior to the scheduled meeting in accordance with the notice procedures under the Charter Documents of the applicable Group Company, and the number
of directors required to be present under this Section 9.3 for a quorum to be constituted is not present within one half hour from the time appointed for the meeting solely because of the absence of a Preferred Director,
each holder of voting securities of the Company, or the applicable Group Company, as the case may be, shall procure that the directors present at the meeting shall adjourn the meeting to the third (3rd) following Business Day, at the same time and
place (or to such other time or such other place as the directors may determine), with notice delivered to all directors two (2) days prior to the adjourned meeting in accordance with the notice procedures under the Charter Documents of the
applicable Group Company, and at such adjourned meeting, the presence of a majority of the number of the directors then in office shall be necessary and sufficient to constitute a quorum for the transaction of business at such adjourned meeting.

 9.4    Expenses. The Company will promptly pay or reimburse each
non-employee Board member and each non-employee Subsidiary Board member for all reasonable
out-of-pocket expenses incurred in connection with attending board or committee meetings and otherwise performing their duties as directors and committee members. 

9.5    Alternates. Subject to applicable Law, each Director shall be entitled to appoint an alternate
to serve at any Board meeting, and such alternate shall be permitted to attend all Board meetings and vote on behalf of the director for whom she or he is serving as an alternate. 

9.6    D&O Insurance. If requested by the Board, the Company shall purchase and maintain directors’
and officers’ insurance on commercially reasonable and customary terms approved by the Board, in relation to any person who is or was a Director or an officer of the Company or any Group Company, or who at the request of the Company or any
Group Company is or was serving as a director or an officer of, or in any other capacity is or was acting for, another company or a partnership, joint venture, trust or other enterprise, against any liability asserted against the person and incurred
by the person in that capacity. To the maximum extent permitted by the Law of the jurisdiction in which the Company is organized, the Company shall indemnify and hold harmless each of its directors and enter into an indemnification agreement with
such director in customary form. 
  

	10.	Protective Provisions. 

 10.1    Acts of the Group
Companies Requiring Approval of Requisite Series A Holders. Notwithstanding anything else contained herein, no Group Company shall, prior to the earlier of the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board
with the affirmative vote of the Preferred Directors , take, permit to occur, approve, authorize, or agree or commit to do any of the following, and each Party shall procure such Group Company not to, and the shareholders of the Company shall
procure the Company not to, take, permit to occur, approve, authorize, or agree or commit to do any of the following, whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by
amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in accordance with applicable Law and in writing by the (a) Requisite Series A Holders, with respect to items (iii), (iv), (xii) and
(xiii) and (to the extent relating to the foregoing items in this Section 10.1(a)) item (xvi) and (b) Requisite Series A Holders and Requisite Ordinary Holders (voting as separate classes), with respect to items
(i), (ii), (v)-(xi), (xiv), and (xv) and (to the extent relating to the foregoing items in this Section 10.1(b)) item (xvi), in each case (a) and (b) in advance: 

  
 28 

 (i)    any amendment or change of the rights, preferences, privileges or
powers of, or the restrictions provided for the benefit of, the Shares, or any action that could adversely affect the rights of the holders of Shares (other than in connection with the Subject IPO or an alternative Qualified IPO approved by the
Board with the affirmative vote of the Preferred Directors); 
 (ii)    increase, reduce or cancel the authorized or
issued share capital of any such Group Company, issue, allot, purchase or redeem any shares or securities convertible into or carrying a right of subscription in respect of shares or any share warrants, grant, issue or reserve for issuance any
options, warrants or rights which may require the issue of shares in the future, or do any other act which has the effect of diluting or reducing the effective shareholding of any Shareholder in any such Group Companies (other than (x) in
connection with the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors, and (y) options, warrants or other convertible securities issued to strategic partners, vendors or
advisors in connection with initiatives by the Company which are not fund-raising in nature); 
 (iii)    any action
that authorizes, creates or issues shares (or reclassifies any outstanding shares into shares) having rights, preferences, privileges or powers senior to or on a parity with the Preferred Shares, whether as to liquidation, conversion, dividend,
voting, redemption or otherwise; 
 (iv)    any purchase, repurchase, redemption or retirement of any Equity Security of
any such Group Company other than the purchase, repurchase or redemption of the Preferred Shares pursuant to the Memorandum and Articles (including in connection with the conversion of such Preferred Shares into Ordinary Shares); 

(v)    any amendment or modification to or waiver under any of the Charter Documents of any such Group Company (other than
in connection with the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors); 

(vi)    any declaration, set aside or payment of a dividend or other distribution by any such Group Company except for any
distribution or dividend with respect to which the sole recipient of any proceeds therefrom is the Company or any wholly-owned subsidiary of the Company, or the adoption of, or any change to, the dividend policy of any such Group Company; 

(vii)    any sale, transfer, or other disposal of, or the incurrence of any Lien on, any substantial part of any assets
(tangible or intangible), including without limitation any trademarks, patents or other Intellectual Property, of any such Group Company; 

(viii)    the commencement of or consent to any proceeding seeking (i) to adjudicate it as bankrupt or insolvent,
(ii) liquidation, winding up, dissolution, reorganization (other than in connection with the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors), or arrangement of any such
Group Companies under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors, or (iii) the entry of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any
substantial part of its property; 

  
 29 

 (ix)    any material change to the business scope, or nature of business of
any such Group Company or cessation of any business line of any such Group Company; 
 (x)    any change of the size or
composition of the board of directors of any such Group Company other than changes pursuant to and in compliance with Section 9 hereof; 

(xi)    any investment in, or divestiture, sale or reduction by any such Group Company of an interest in a Subsidiary;

 (xii)    the appointment or removal of the auditors for any such Group Company, or the change of the term of the
fiscal year for any such Group Company; 
 (xiii)    any adoption of or change to, a significant tax or accounting
practice or policy or any internal financial controls and authorization policies, or the making of any significant tax or accounting election (other than any such tax election in connection with a restructuring or reorganization of the Group
Companies in preparation for a Qualified IPO or the Subject IPO); 
 (xiv)    any public offering of any Equity
Securities of any such Group Company (other than the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors); 

(xv)    any Deemed Liquidation Event or any merger, amalgamation, petition or application in any jurisdiction to adopt a
scheme of arrangement, consolidation, reorganization, reclassification, split-off, spin-off, conversion, business combination or other transaction of similar nature
involving any such Group Company with any Person, or the purchase or other acquisition by any such Group Company of all or substantially all of the assets, equity or business of another Person (other than in connection with a restructuring or
reorganization of the Group Companies in preparation for the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors); or 

(xvi)    any action by any such Group Company to authorize, approve or enter into any agreement or obligation with respect
to any action listed above. 
 Notwithstanding anything to the contrary contained herein, where any act listed in (i) to (xvi) above
requires the approval of the shareholders of the Company in accordance with applicable Laws, and if the shareholders vote in favor of such act but the approval of the Requisite Series A Holders and/or Requisite Ordinary Holders (as the case may be)
has not yet been obtained, such Requisite Series A Holders and/or Requisite Ordinary Holders (as the case may be) shall have, in such vote, the voting rights equal to the aggregate voting power of all the shareholders of the Company who voted in
favor of the resolution plus one. 
 10.2    Acts of the Group Companies Requiring Approval of the Requisite
Series B Holders. Notwithstanding anything else contained herein, no Group Company shall, prior to the earlier of the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the
Preferred Directors , take, permit to occur, approve, authorize, or agree to commit to do any of the following, and each Party shall procure such Group Company not to, and the shareholders of the Company shall procure the Company not

  
 30 

 
to, take, permit to occur, approve, authorize, or agree or commit to do any of the following, whether in a single transaction or a series of related transactions, whether directly or indirectly,
and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in accordance with applicable Law and in advance in writing by the Requisite Series B Holders (which approval will not be
unreasonably withheld, delayed or conditioned by any holder of Series B Preferred Shares): 
 (i)    any amendment or
change of the rights, preferences, privileges or powers of, or the restrictions provided for the benefit of, the Series B Preferred Shares issued by the Company, or any action that could adversely affect the rights of the holders of Series B
Preferred Shares (other than as necessary in consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series B
Preferred Shares); 
 (ii)    increase, reduce or cancel the authorized or issued share capital of any such Group
Company, issue, allot, purchase or redeem any shares or securities convertible into or carrying a right of subscription in respect of shares or any share warrants, grant, issue or reserve for issuance any options, warrants or rights which may
require the issue of shares in the future, or do any other act which has the effect of diluting or reducing the effective shareholding of any Shareholder in any such Group Companies (other than (x) as necessary in consummation of the Subject
IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series B Preferred Shares, and (y) options, warrants or other convertible
securities the aggregate number of which does not exceed two percent (2%) of the outstanding share capital of the Company (calculated on an as-converted to Ordinary Share basis) issued to strategic partners,
vendors or advisors in connection with initiatives by the Company which are not fund-raising in nature); 
 (iii)    any
action that authorizes, creates or issues shares (or reclassifies any outstanding shares into shares) having rights, preferences, privileges or powers senior to or on a parity with the Series B Preferred Shares, whether as to liquidation,
conversion, dividend, voting, redemption or otherwise; 
 (iv)    any purchase, repurchase, redemption or retirement of
any Equity Security of any such Group Company other than the purchase, repurchase or redemption of the Preferred Shares pursuant to the Memorandum and Articles (including in connection with the conversion of such Preferred Shares into Ordinary
Shares); 
 (v)    any amendment or modification to or waiver under any of the Charter Documents of any such Group
Company (other than as necessary in consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series B Preferred
Shares); 
 (vi)    any declaration, set aside or payment of a dividend or other distribution by any such Group Company
except for any distribution or dividend with respect to which the sole recipient of any proceeds therefrom is the Company or any wholly-owned subsidiary of the Company, or the adoption of, or any change to, the dividend policy of any such Group
Company; 

  
 31 

 (vii)    any sale, transfer, or other disposal of, or the incurrence of any
Lien on, any substantial part of any assets (tangible or intangible), including without limitation any trademarks, patents or other Intellectual Property, of any such Group Company, but excluding any licensing of Intellectual Property by any Group
Company; 
 (viii)    the commencement of or consent to any proceeding seeking (i) to adjudicate it as bankrupt or
insolvent, (ii) liquidation, winding up, dissolution, reorganization (other than reorganization as necessary in the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred
Directors and as would not have a material adverse impact on the Series B Preferred Shares), or arrangement of any such Group Companies under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors, or (iii) the entry
of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property; 

(ix)    any material change to the business scope, or nature of business of any such Group Company (including the
acquisition or the entry into any new business or formation of any joint venture or any Subsidiary representing, in each instance, an aggregate investment or expenditure by the Group of an amount exceeding US$2,500,000 in value) or cessation of any
business line of any such Group Company; 
 (x)    any change of the size or composition of the board of directors of
any such Group Company other than changes pursuant to and in compliance with Section 9 hereof; 

(xi)    any divestiture, sale or reduction by any such Group Company of an interest in a Subsidiary; any investment by any
such Group Company in another Person other than a Group Company; 
 (xii)    the appointment or removal of the auditors
for any such Group Company, or the change of the term of the fiscal year for any such Group Company; 
 (xiii)    any
public offering of any Equity Securities of any such Group Company (other than the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors); 

(xiv)    any Deemed Liquidation Event or any merger, amalgamation, petition or application in any jurisdiction to adopt a
scheme of arrangement, consolidation, reorganization, reclassification, split-off, spin-off, conversion, business combination or other transaction of similar nature
involving any such Group Company with any Person, or the purchase or other acquisition by any such Group Company of all or substantially all of the assets, equity or business of another Person (other than in connection with restructuring or
reorganization of the Group Companies as necessary in consummation of with the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on
the Series B Preferred Shares); 
 (xv)    issue, allot, or sell any bonds, debentures or other debt securities,
together with any other bonds, debentures or debt securities issued, allotted or sold in the same fiscal year, that would exceed US$2,000,000; 

(xvi)    capital expenditures by the Group in any transaction where the contract value exceeds US$2,000,000; 

  
 32 

 (xvii)    creation, incurrence or assumption by any such Group Company of
Indebtedness of more than US$2,000,000; 
 (xviii)    the adoption, amendment or termination of any ESOP or any other
share option, equity incentive, purchase or participation plan of any of the Group Companies; or 
 (xix)    any action
by any such Group Company to authorize, approve or enter into any agreement or obligation with respect to any action listed above. 

Notwithstanding anything to the contrary contained herein, where any act listed in (i) to (xiv) or (xix) above requires the approval
of the shareholders of the Company in accordance with applicable Laws, and if the shareholders vote in favor of such act but the approval of the Requisite Series B Holders has not yet been obtained, such Requisite Series B Holders shall have, in
such vote, the voting rights equal to the aggregate voting power of all the shareholders of the Company who voted in favor of the resolution plus one. 

10.3    Acts of the Group Companies Requiring Approval of the Requisite Series C Holders. Notwithstanding
anything else contained herein, no Group Company shall, prior to the earlier of the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors, take, permit to occur,
approve, authorize, or agree to commit to do any of the following, and each Party shall procure such Group Company not to, and the shareholders of the Company shall procure the Company not to, take, permit to occur, approve, authorize, or agree or
commit to do any of the following, whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless
approved in accordance with applicable Law and in advance in writing by the Requisite Series C Holders (which approval will not be unreasonably withheld, delayed or conditioned by any holder of Series C Preferred Shares): 

(i)    any amendment or change of the rights, preferences, privileges or powers of, or the restrictions provided for the
benefit of, the Series C Preferred Shares issued by the Company, or any action that could adversely affect the rights of the holders of Series C Preferred Shares (other than as necessary in consummation of the Subject IPO or an alternative Qualified
IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series C Preferred Shares); 

(ii)    increase, reduce or cancel the authorized or issued share capital of any such Group Company, issue, allot,
purchase or redeem any shares or securities convertible into or carrying a right of subscription in respect of shares or any share warrants, grant, issue or reserve for issuance any options, warrants or rights which may require the issue of shares
in the future, or do any other act which has the effect of diluting or reducing the effective shareholding of any Shareholder in any such Group Companies (other than (x) as necessary in consummation of the Subject IPO or an alternative
Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series C Preferred Shares, and (y) options, warrants or other convertible securities the aggregate
number of which does not exceed two percent (2%) of the outstanding share capital of the Company (calculated on an as-converted to Ordinary Share basis) issued to strategic partners, vendors or advisors in
connection with initiatives by the Company which are not fund-raising in nature); 

  
 33 

 (iii)    any action that authorizes, creates or issues shares (or
reclassifies any outstanding shares into shares) having rights, preferences, privileges or powers senior to or on a parity with the Series C Preferred Shares, whether as to liquidation, conversion, dividend, voting, redemption or otherwise; 

(iv)    any purchase, repurchase, redemption or retirement of any Equity Security of any such Group Company other than the
purchase, repurchase or redemption of the Preferred Shares pursuant to the Memorandum and Articles (including in connection with the conversion of such Preferred Shares into Ordinary Shares); 

(v)    any amendment or modification to or waiver under any of the Charter Documents of any such Group Company (other than
as necessary in consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on the Series C Preferred Shares); 

(vi)    any declaration, set aside or payment of a dividend or other distribution by any such Group Company except for any
distribution or dividend with respect to which the sole recipient of any proceeds therefrom is the Company or any wholly-owned subsidiary of the Company, or the adoption of, or any change to, the dividend policy of any such Group Company; 

(vii)    any sale, transfer, or other disposal of, or the incurrence of any Lien on, any substantial part of any assets
(tangible or intangible), including without limitation any trademarks, patents or other Intellectual Property, of any such Group Company, but excluding any licensing of Intellectual Property by any Group Company; 

(viii)    the commencement of or consent to any proceeding seeking (i) to adjudicate it as bankrupt or insolvent,
(ii) liquidation, winding up, dissolution, reorganization (other than reorganization as necessary in the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors
and as would not have a material adverse impact on the Series C Preferred Shares), or arrangement of any such Group Companies under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors, or (iii) the entry of an
order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property; 

(ix)    any material change to the business scope, or nature of business of any such Group Company (including the
acquisition or the entry into any new business or formation of any joint venture or any Subsidiary representing, in each instance, an aggregate investment or expenditure by the Group of an amount exceeding US$2,500,000 in value) or cessation of any
business line of any such Group Company; 
 (x)    any change of the size or composition of the board of directors of
any such Group Company other than changes pursuant to and in compliance with Section 9 hereof; 

(xi)    any divestiture, sale or reduction by any such Group Company of an interest in a Subsidiary; any investment by an
such Group Company in another Person other than a Group Company; 
 (xii)    the appointment or removal of the auditors
for any such Group Company, or the change of the term of the fiscal year for any such Group Company; 

  
 34 

 (xiii)    any public offering of any Equity Securities of any such Group
Company (other than the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors); 

(xiv)    any Deemed Liquidation Event or any merger, amalgamation, petition or application in any jurisdiction to adopt a
scheme of arrangement, consolidation, reorganization, reclassification, split-off, spin-off, conversion, business combination or other transaction of similar nature
involving any such Group Company with any Person, or the purchase or other acquisition by any such Group Company of all or substantially all of the assets, equity or business of another Person (other than in connection with restructuring or
reorganization of the Group Companies as necessary in consummation of with the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors and as would not have a material adverse impact on
the Series C Preferred Shares); 
 (xv)    issue, allot, or sell any bonds, debentures or other debt securities,
together with any other bonds, debentures or debt securities issued, allotted or sold in the same fiscal year, that would exceed US$2,000,000; 

(xvi)    capital expenditures by the Group in any transaction where the contract value exceeds US$2,000,000; 

(xvii)    creation, incurrence or assumption by any such Group Company of Indebtedness of more than US$2,000,000; 

(xviii)    the adoption, amendment or termination of any ESOP or any other share option, equity incentive, purchase or
participation plan of any of the Group Companies; or 
 (xix)    any action by any such Group Company to authorize,
approve or enter into any agreement or obligation with respect to any action listed above. 
 Notwithstanding anything to the contrary
contained herein, where any act listed in (i) to (xiv) or (xix) above requires the approval of the shareholders of the Company in accordance with applicable Laws, and if the shareholders vote in favor of such act but the approval of the
Requisite Series C Holders has not yet been obtained, such Requisite Series C Holders shall have, in such vote, the voting rights equal to the aggregate voting power of all the shareholders of the Company who voted in favor of the resolution plus
one. 
 10.4    Acts of the Group Companies Requiring Approval of Series C Super-Majority. Notwithstanding
anything else contained herein, the Company may not issue any New Securities that are senior to, or pari passu with, the Series C Preferred Shares (as to liquidation preference or distribution rights) unless such issuance of New Securities is
approved in advance in writing by the holders of at least two-thirds (2/3) of the Series C Preferred Shares (which approval will not be unreasonably withheld, delayed or conditioned by any holder of Series C
Preferred Shares). 
 10.5    Acts of the Group Companies Requiring Supermajority Board Approval.
Notwithstanding anything else contained herein, except for the sole purpose of making indemnity payments by the Company pursuant to Section 11 of the Subscription Agreement, no Group Company shall take, permit to occur, approve, authorize, or
agree or commit to do any of the following, and no Party shall permit any such Group Company to, and the 

  
 35 

 
shareholders of the Company shall not permit the Company to, take, permit to occur, approve, authorize, or agree or commit to do any of the following, whether in a single transaction or a series
of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved by at least two-thirds (2/3)
of the members of the Board: 
 (i)    the appointment or removal of, or approval of the remuneration package for, any
member of the senior management of any such Group Company, including the chief executive officer, the chief operating officer, the chief financial officer, and any other management member at or above the level of vice president or comparable
position; 
 (ii)    the adoption, amendment or termination of ESOP or any other equity incentive, purchase or
participation plan for the benefit of any employees, officers, directors, contractors, advisors or consultants of any of such Group Companies; 

(iii)    incurrence of any capital expenditure or other commitment in excess of US$1,000,000 (or its equivalent in other
currency or currencies) individually or US$2,500,000 (or its equivalent in other currency or currencies) in the aggregate during any financial year, excluding contracts providing services to customers; 

(iv)    creation, incurrence or assumption by any such Group Company of indebtedness for borrowed money or guarantees of
such indebtedness except for trade facilities obtained from banks or other financial institutions in the ordinary course of business; 

(v)    incurrence of any Lien on all or any of the undertaking, assets or rights of any such Group Company except for the
purpose of securing borrowings from banks or other financial institutions in the ordinary course of business not exceeding US$1,000,000 (or its equivalent in other currency or currencies) individually or US$2,500,000 (or its equivalent in other
currency or currencies) in the aggregate during any financial year; 
 (vi)    entering into, approving or making
adjustments or modifications to terms of any transaction with a transaction amount in excess of US$100,000 (or its equivalent in other currency or currencies) involving the interest of any director, shareholder or officer of any such Group Company,
including but not limited to the making of any loans or advances, whether directly or indirectly, or the provision of any guarantee, indemnity or security for or in connection with any indebtedness or liabilities of any director, shareholder or
officer of any such Group Company; 
 (vii)    any transfer of cash or other assets in excess of US$5,000,000 (or its
equivalent in other currency or currencies) between any such Group Companies and/or their Affiliates; 
 (viii)    any
material equity or asset acquisition with a transaction amount in excess of US$2,500,000 (or its equivalent in other currency or currencies); 

(ix)    selection of the listing exchange or the underwriters in connection with a public offering (other than the Subject
IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors), or approval of the valuation or other terms and conditions for a public offering (other than the Subject IPO or an alternative Qualified
IPO approved by the Board with the affirmative vote of the Preferred Directors); 

  
 36 

 (x)    any exclusive out-licensing or
incurrence of any Lien on any trademarks, patents or other Intellectual Property owned by any such Group Company other than in the ordinary course of business; 

(xi)    the approval of, or any deviation from or amendment of, the annual budget and business plan of any such Group
Company; 
 (xii)    any adoption of or change to, a significant tax or accounting practice or policy or any internal
financial controls and authorization policies, or the making of any significant tax or accounting election (other than any such tax election in connection with a restructuring or reorganization of the Group Companies in preparation for a Qualified
IPO or the Subject IPO); 
 (xiii)    any other actions or transaction out of the ordinary course of business of the
Company; or 
 (xiv)    any action by any such Group Company to authorize, approve or enter into any agreement or
obligation with respect to any action listed above. 
 10.6    Termination. The provisions of this
Section 10 shall terminate upon the earlier to occur of (i) the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors or (ii) a
Deemed Liquidation Event. 
  

	11.	Additional Covenants. 

 11.1    Business of the Group
Companies. The business of the Group Companies shall be restricted to the Business, except with the approval of the Board and any required approvals under Section 10. 

11.2    Compliance with Laws; Registrations. 

(i)    The Group Companies shall, and each Key Holder shall cause the Group Companies to, conduct their respective
business in compliance with all applicable Laws, including but not limited to Laws regarding foreign investments, corporate registration and filing, import and export, customs administration, foreign exchange, intellectual property rights, labor and
social welfare, and taxation, and obtain, make and maintain in effect, all Consents from the relevant Governmental Authority or other Person required in respect of the due and proper establishment and operations of each Group Company as now
conducted in accordance with applicable Laws. Without limiting the generality of the foregoing, none of the Group Companies shall, and the Parties (other than the Investors) shall cause each Group Company not to, and its Affiliates and its
respective officers, directors, and representatives not to, directly or indirectly, (a) offer or give anything of value to any Public Official with the intent of obtaining any improper advantage, affecting or influencing any act or decision of
any such Person, assisting any Group Company in obtaining or retaining business for, or with, or directing business to, any Person, or constituting a bribe, kickback or illegal or improper payment to assist any Group in obtaining or retaining
business, (b) take any other action, in each case, in violation of the Foreign Corrupt Practices Act of the United States of America (“FCPA”), as amended (or that would be in violation of the FCPA if taken by a “US
Person” as defined by the FCPA), or in violation of any other applicable similar anti-corruption, recordkeeping and internal controls Laws, or (c) establish or maintain any fund or assets in which any Group Company has proprietary rights
that have not been recorded in its books and records of Group Company. 

  
 37 

 (ii)    Without limiting the generality of the foregoing, each Key Holder and
each Group Company shall ensure that all filings and registrations with the PRC Governmental Authorities so required by them shall be duly completed in accordance with the relevant rules and regulations, including without limitation any such filings
and registrations with the Ministry of Commerce, the State Administration of Industry and Commerce, the State Administration for Foreign Exchange, tax bureau, customs authorities, product registration authorities, health regulatory authorities, and
the local counterpart of each of the aforementioned governmental authorities, in each case, as applicable. 

(iii)    Without limiting the generality of the foregoing, the Company covenants that it shall not, and shall not permit
any of its Subsidiaries or Affiliates or any of its or their respective directors, officers, managers, employees, independent contractors, representatives or agents to, promise, authorize or make any payment to, or otherwise contribute anything of
value, directly or indirectly, to any third party, including any non-U.S. Public Official, in each case, in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption
Law. The Company further covenants that it shall, and shall cause each of its Subsidiaries and Affiliates to, cease all of its or their respective activities, as well as remediate any actions taken by the Company, its Subsidiaries or Affiliates, or
any of their respective directors, officers, managers, employees, independent contractors, representatives or agents in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption Law. The Company further
covenants that it shall, and shall cause each of its Subsidiaries and Affiliates to, maintain systems of internal controls (including, but not limited to, accounting systems, purchasing systems and billing systems) to ensure compliance with the
FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption Law. 
 11.3    Share
Option Plan. No issuances or grants will be made under any ESOP unless such ESOP contains terms and conditions approved by the Board and approved in accordance with Section 10 hereof. 

11.4    Insurance. If requested by at least two-thirds (2/3) of the
members of the Board, the Group Companies shall promptly purchase and maintain in effect, worker’s injury compensation insurance, key man insurance, and other insurance, in any case with respect to the Group’s properties, employees,
products, operations, and/or business, each in the amounts not less than that are customarily obtained by companies of similar size, in a similar line of business, and with operations in the PRC. 

11.5    Intellectual Property Protection. Except with the written consent of at least two-thirds (2/3) of the members of the Board, the Group Companies shall take all commercially reasonable steps to protect their respective Intellectual Property rights, including without limitation
(a) registering their material respective trademarks, brand names, domain names and copyrights, and (b) requiring each Key Employee to enter into an employment agreement in form and substance reasonably acceptable to at least two-thirds (2/3) of the members of the Board, a confidential information and intellectual property assignment agreement and a non-competition and non-solicitation agreement requiring such persons to protect and keep confidential such Group Company’s confidential information, intellectual property and trade secrets, prohibiting such persons from competing
with such Group Company for a reasonable time after their termination of employment with any Group 

  
 38 

 
Company, and requiring such persons to assign all ownership rights in their work product to such Group Company, in each case in form and substance reasonably acceptable to at least two-thirds (2/3) of the members of the Board. 
 11.6    Internal Control
System. The Group Companies shall maintain their books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that
meets international standards of good practice, including using commercially reasonable efforts to ensure, with respect to each Group Company, that (i) transactions by it are executed in accordance with management’s general or specific
authorization, (ii) transactions by it are recorded as necessary to permit preparation of financial statements in conformity with the Accounting Standards and to maintain asset accountability, (iii) duties are segregated for cash deposits,
cash reconciliation, cash payment, and a proper approval process is established in respect thereof, and (iv) no personal assets or bank accounts of the employees, directors, officers are mingled with the corporate assets or corporate bank
account, and no Group Company uses any personal bank accounts of any employees, directors, officers thereof during the operation of the business, in each case (i)-(iv), in all material respects. 

11.7    Non-compete. Unless the Requisite Preferred Holders
otherwise consent in writing, each Principal (a) so long as such Principal is a director, officer or employee of a Group Company, shall devote no less than ninety percent (90%) of his/her time and attention during regular business hours to the
business of the Group Companies, use his/her commercially reasonable efforts in furtherance of the business and interests of the Group Companies, and refrain from being employed by any Person other than a Group Company except with respect to any
position being held by such Principal as of the Effective Date that has been disclosed to the Investors prior to such date, and (b) so long as such Principal is a director, officer, or employee of a Group Company and for two (2) years
after such Principal is no longer a director, officer, or employee of a Group Company, shall not, and shall use reasonable best efforts to cause his/her Affiliates, and use commercially reasonable efforts to cause his/her Associates, in each case,
not to, directly or indirectly, (i) own, manage, engage in, operate, control, work for, consult with, render services for, maintain any interest in (proprietary, financial or otherwise), any business, whether in corporate, proprietorship or
partnership form or otherwise, that is substantially similar to, or otherwise competes with, the Business of the Group Companies (a “Restricted Business”), provided, however, that the restrictions contained in this
clause (i) shall not restrict the acquisition by such Principal, directly or indirectly, of less than 0.5% of the outstanding share capital of any publicly traded company engaged in a Restricted Business, (ii) solicit any Person who
is a current customer of the Group for the purpose of offering to such customer goods or services similar to or competing with those offered by any Group Company, or solicit any Person who is a current supplier or licensor or customer of any Group
Company for the purpose of inducing any such Person to terminate its business relationship with such Group Company, or (iii) solicit or entice away or endeavour to solicit or entice away any current director, officer, consultant or employee of
any Group Company. Each of the Principals expressly agrees that the limitations set forth in this Section 11.7 are reasonably tailored and reasonably necessary in light of the circumstances. Furthermore, if any provision of
this Section is more restrictive than permitted by the Laws of any jurisdiction in which a Party seeks enforcement thereof, then this Section will be enforced to the greatest extent permitted by Law. Each of the undertakings contained in this
Section shall be enforceable by each Group Company and each Investor separately and independently of the right of the other Group Companies and the other Investors. Notwithstanding any limitation in this Section 11.7, Ying
Du shall not be restricted from 

  
 39 

 
serving on the board of directors or advisory panel of any company for which she is serving as a director or advisor as of the Effective Date that has been disclosed to the Investors prior to
such date. 
 11.8    No Avoidance. The Company will not, by any voluntary action, avoid or seek to avoid
the observance or performance of any of the terms to be performed hereunder by the Company, and the Company will at all times in good faith assist and take action as appropriate in the carrying out of all of the provisions of this Agreement. 

11.9    Tax Matters for the United States and Other Jurisdictions. 

(i)    At the request of a Shareholder (or Shareholders) for whom it is relevant, the Company shall use reasonable efforts
to (a) determine, on an annual basis, whether the Company (or any of its subsidiaries) is a PFIC and (b) provide such information (or access to such information) as is reasonably available to the Company and necessary for such Shareholder
to comply with such Shareholder’s US federal income tax or other tax filing or reporting obligations, including with respect to the acquisition, ownership, or disposition of, and income attributable to, any shares held by such Shareholder. 

(ii)    At the request of a Shareholder (or Shareholders) for whom it is relevant, the Company shall use reasonable
efforts to provide such information (or access to such information) in the Company’s possession in order to permit such Shareholder to (a) determine whether the Company is or may become a CFC, (b) determine the consequences to it or
any of its direct or indirect investors of such status, and (c) comply with such Shareholder’s US federal income tax or other tax filing or reporting obligations. 

(iii)    The Company shall comply and shall cause each of its Subsidiaries to comply with all material record-keeping,
reporting, and other requirements that the Investors inform the Company are necessary to enable such Investor or any of its Affiliates to comply with any applicable US and non-US tax rules. The Company shall
also provide the Investors with any information in the Company’s possession reasonably requested by such Investor or any of its Affiliates to enable such person to file any tax return, make any tax election, claim any refund, credit, deduction,
treaty, benefit or any other tax benefit, or otherwise comply with any applicable US and non-US tax rules, including information relating to the transfer of shares or other interests in the Company or any
Group Company and the issuance or redemption by the Company or any Group Company of any shares or other interests therein. The Investors agree that if the Company incurs expenses and fees over US$5,000 in any year in connection with the compliance
with any non-US tax rules, the Investor requesting the Company to comply with such non-US tax rules shall reimburse the Company for such expenses and fees over US$5,000
each year. 
 11.10    Other Tax Matters. 

(i)    The Company shall use, and shall cause each of its Subsidiaries to use, its reasonable efforts to arrange its
management and business activities in such a way that the Company and each of its Subsidiaries are not treated as residents for tax purposes, or is otherwise subject to income tax in, a jurisdiction other than the jurisdiction in which they have
been organized. 
 (ii)    (ii) The Company shall (and shall cause any Group Company to) (i) meet all payment,
withholding, and other tax compliance obligations (including with respect to 

  
 40 

 
transfer pricing and evidentiary requirements for transfer pricing) as required under the laws of the jurisdictions where the Group Company operates; (ii) at all times deal at arm’s
length with any other Group Company, (iii) retain an accounting firm of recognized standing with respect to tax matters in any jurisdiction where the Group Company operates to handle all of its tax compliance matters in such jurisdiction, and
(iv) refrain from entering into tax sharing agreements or otherwise guarantee another Person’s liability with respect to taxes. 

11.11    Confidentiality. 

(i)    The terms and conditions of the Transaction Documents (collectively, the “Confidential
Information”), including their existence, shall be considered confidential information and shall not be disclosed by any of the Parties to any other Person except that (i) each Party, as appropriate, may disclose any of the
Confidential Information to its current or bona fide prospective investors, prospective permitted transferees, employees, investment bankers, lenders, accountants and attorneys, in each case only where such Persons are under appropriate
nondisclosure obligations; (ii) each Investor may disclose any of the Confidential Information to its fund manager or any other Affiliate and the employees thereof so long as such Persons are under appropriate nondisclosure obligations;
(iii) any Party may disclose any of the Confidential Information as reasonably necessary in connection with any legal proceeding or arbitration to enforce the terms of any Transaction Document; and (iv) if any Party is requested or becomes
legally compelled (including without limitation, pursuant to securities Laws) to disclose the existence or content of any of the Confidential Information in contravention of the provisions of this Section, such Party shall promptly provide the other
Parties with written notice of that fact so that such other Parties may seek a protective order, confidential treatment or other appropriate remedy and in any event shall furnish only that portion of the information that is legally required and
shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. 

(ii)    The provisions of this Section shall terminate and supersede the provisions of any separate nondisclosure
agreement executed by any of the Parties hereto with respect to the transactions contemplated hereby, including without limitation, any term sheet, letter of intent, memorandum of understanding or other similar agreement (but not the Charter
Documents) entered into by the Company and the Investors in respect of the transactions contemplated hereby, except for the confidentiality provision in the Subscription Agreement, which shall remain in full force and effect. 

11.12    Terms Protection. If at any time after the Closing and prior to a Qualified IPO, should the Company
propose to issue any New Securities to a third party (a “Subject Investor”), then so long as Maxway continues to hold at least 50% of the Series B Preferred Shares acquired by Maxway at the Closing, the Company will provide to
Maxway a written summary of the terms for the sale and issuance of such New Securities to such Subject Investor (the “MFN Notice”), with the understanding that Maxway will be offered the opportunity to receive any of the rights and
benefits proposed to be granted by the Company to such Subject Investor in connection with such Subject Investor’s investment in the Company which are reasonably applicable to Maxway, provided that (a) Maxway notifies the Company in
writing within ten (10) calendar days of the date it receives a copy of the MFN Notice of such desire, (b) the Subject Investor consummates its investment in the New Securities, and (c) Maxway will not be entitled to receive any
rights or benefits (x) established in favor of the Subject Investor solely to address any laws, rules, regulations or internal policies to which Maxway is not also subject (unless it is subject to laws, rules, regulations or internal policies
of substantially similar effect) or (y) which are personal to such Subject Investor based solely on 

  
 41 

 
the place of organization or headquarters, organizational form of, or other particular restrictions applicable to, such Subject Investor, to which Maxway is not also subject. Maxway acknowledges
and agrees that the Company may in its sole discretion redact any confidential information regarding the Subject Investor which the Company is not otherwise obligated to disclose to Maxway pursuant to the terms of this Agreement. 

11.13    Drag Along Rights. 

(i)    At any time after the fifth (5th) anniversary of the Effective
Date and prior to the consummation of a Qualified IPO, the holders of at least 66.7% in voting power of all issued and outstanding Shares of the Company voting as a single class on a fully diluted and
as-converted basis (the “Drag Holders”) may approve a consolidation, amalgamation, scheme of arrangement or merger of the Company with or into any other Person (the “Offeror”)
or other reorganization in which the shareholders of the Company immediately prior to such consolidation, amalgamation, merger, scheme of arrangement or reorganization own less than fifty percent (50%) of the Company’s voting power in the
aggregate immediately after such consolidation, merger, amalgamation, scheme of arrangement or reorganization, any transaction or series of related transactions in which in excess of fifty percent (50%) of the Company’s voting power is
transferred to the Offeror, or sale, transfer, lease or other disposition of all or substantially all of the assets of the Group Companies to the Offeror (an “Approved Sale”) that would qualify as a Deemed Liquidation Event pursuant
to Article 8.2(B) of the Third Restated and Amended Articles of Association of the Company), where (i) the Company is valued at not less than US$1,000,000,000 in such transaction and (ii) the same terms and conditions shall apply in
respect of the sale of any Share by a Shareholder in the Approved Sale as apply to the sale of Shares by the Drag Holders; provided, however, that such terms and conditions, including with respect to price paid or received per Share of the Company,
may differ as between different classes of Shares of the Company in accordance with their relative liquidation preferences as set forth in the Memorandum and Articles and provided further that some Shareholders may be given the right or opportunity
to exchange or roll a portion of their Shares of the Company for equity securities of the acquirer or an Affiliate thereof in the Approved Sale but in such event there shall, subject to applicable law, be no obligation to afford such right or
opportunity to all of the Shareholders. In the case of a proposed Approved Sale, at the request of the Drag Holders, the Company shall promptly deliver a written notice (the “Drag Notice”) to notify each of the other Shareholders of
the approval thereof and the material terms and conditions of such proposed Approved Sale, whereupon each such Shareholder shall, in accordance with instructions received from the Company at the direction of the Drag Holders, take all necessary
actions in connection with the consummation of such Approved Sale as reasonably requested by the Drag Holders, including, but not limited to: 

(1)    Execute and deliver any share transfer or other agreements prepared in connection with such Approved Sale, and the
delivery, at the closing of such Approved Sale involving a sale of shares, of all certificates representing shares held or controlled by such Shareholder, accompanied by a duly executed share transfer form, or affidavits and indemnity undertakings
with respect to lost certificates. 
 (2)    Sell, at the same time as the Drag Holders sell to the Offeror, in the
Approved Sale, all of its Shares of the Company or the same percentage of its Shares of the Company as the Drag Holders sell; 

  
 42 

 (3)    Vote all of its Shares of the Company (a) in favor of such
Approved Sale, (b) against any other consolidation, recapitalization, amalgamation, merger, sale of securities, sale of assets, business combination, or transaction that would interfere with, delay, restrict, or otherwise adversely affect such
Approved Sale, and (c) against any action or agreement that would result in a breach of any covenant, representation or warranty or any other obligation or agreement of the Company under the definitive agreement(s) related to such Approved Sale
or that could result in any of the conditions to the closing obligations under such agreement(s) not being fulfilled, and, in connection therewith, to be present (in person or by proxy) at all relevant meetings of the shareholders of the Company (or
adjournments thereof) or to approve and execute all relevant written consents in lieu of a meeting. 
 (4)    Not
exercise any dissenters’ or appraisal rights under applicable law with respect to such Approved Sale. 
 (ii)    In
the event that any Shareholder fails for any reason to take any of the foregoing actions under this Section 11.13 following the Drag Notice, such Shareholder hereby grants an irrevocable power of attorney and proxy to the
Drag Holders approving the Approved Sale to take all necessary actions and execute and deliver all documents deemed by such Drag Holders to be reasonably necessary to effectuate the terms hereof. 

11.14    Termination. The provisions of Section 11 shall terminate upon the
earlier to occur of (i) the consummation of the Subject IPO or an alternative Qualified IPO approved by the Board with the affirmative vote of the Preferred Directors or (ii) a Deemed Liquidation Event. 

 

	12.	Miscellaneous. 

 12.1    Termination. This Agreement
shall terminate upon mutual consent of the Parties hereto; provided that this Agreement shall terminate with respect to each Investor once such Investor ceases to be a shareholder of the Company. If any Party breaches this Agreement before the
termination of this Agreement, it shall not be released from its obligations arising from such breach on termination; provided that each Investor shall cease to have any obligations or liabilities once such Investor ceases to be a shareholder of the
Company. 
 12.2    Further Assurances. Upon the terms and subject to the conditions herein, each of the
Parties hereto agrees to use its reasonable best efforts to take or cause to be taken all action, to do or cause to be done, to execute such further instruments, and to assist and cooperate with the other Parties hereto in doing, all things
necessary, proper or advisable under applicable Laws or otherwise to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this Agreement. Each Key Holder irrevocably agrees to cause his/her
respective holding company (if any) to perform and comply with all of its respective covenants and obligations under this Agreement. 

12.3    Assignments and Transfers; No Third Party Beneficiaries. Except as otherwise provided herein, this
Agreement and the rights and obligations of the Parties hereunder shall inure to the benefit of, and be binding upon, their respective successors, permitted assigns, but shall not otherwise be for the benefit of any third party. Subject to the terms
and conditions of this Agreement and the Right of First Refusal & Co-Sale Agreement, each Shareholder may transfer all or part of the Equity Securities of the Company held by such Shareholder to any
third party and assign any of its respective rights, interests, or obligations hereunder together with the transfer of such Equity Securities. Each transferee or assignee of 

  
 43 

 
such Equity Securities shall continue to be subject to the terms hereof, and, as a condition to the Company’s recognizing such transfer or assignment, each transferee or assignee shall agree
in writing to be subject to each of the terms of this Agreement by executing and delivering a Deed of Adherence substantially in the form attached hereto as Exhibit A (a “Deed of Adherence”). Upon the execution and
delivery of a Deed of Adherence by any transferee or assignee, such transferee or assignee shall be deemed to be a party hereto as if such transferee’s or assignee’s signature appeared on the signature page of this Agreement. The Company
shall not permit the transfer or assignment of any Equity Securities of the Company subject to this Agreement on its books or issue a new certificate or instrument representing any of the Company’s Equity Securities unless and until the
transferee or assignee shall have complied with the terms of this Section 12.3. Except as provided in the preceding sentence and in Section 12.9, this Agreement and the rights and obligations of
each other Party hereunder shall not otherwise be assigned without the mutual written consent of the Company, the Requisite Ordinary Holders and the Requisite Preferred Holders except as expressly provided herein. Ying Du shall be jointly and
severally liable for any breach by The Z Trust of any provision under this Agreement, the Right of First Refusal & Co-Sale Agreement and/or any Other Restriction Agreements (as defined under the Right
of First Refusal & Co-Sale Agreement). 
 12.4    Governing
Law. This Agreement shall be governed by and construed under the Laws of the State of New York. 

12.5    Dispute Resolution. 

(i)    Any dispute, controversy or claim (each, a “Dispute”) arising out of or relating to this
Agreement, or the interpretation, breach, termination, validity or invalidity thereof, shall be referred to and conclusively determined by arbitration upon the demand of either party to the dispute with notice (the “Arbitration
Notice”) to the other. 
 (ii)    The Dispute shall be settled by arbitration in Hong Kong by the Hong Kong
International Arbitration Centre (the “HKIAC”) in accordance with the Rules of Arbitration of the International Chamber of Commerce (the “ICC Rules”) in force when the Arbitration Notice is submitted
in accordance with the ICC Rules. There shall be one (1) arbitrator. The disputing Parties may jointly select one (1) arbitrator, or agree that the HKIAC Council shall select the arbitrator. In the absence of such agreement, there shall be
three (3) arbitrators, of whom one (1) arbitrator shall be appointed by the mutual agreement of the claimants to the Dispute, one (1) arbitrator shall be appointed by the mutual agreement of the respondents to the Dispute, and the
third arbitrator shall be appointed by the arbitrators respectively designated by the claimants and respondents. If any arbitrator has not been appointed within thirty (30) days after the date of the Arbitration Notice, such arbitrator shall be
appointed by the HKIAC Council. 
 (iii)    The arbitral proceedings shall be conducted in English. To the extent that
the ICC Rules are in conflict with the provisions of this Section, including the provisions concerning the appointment of the arbitrators, the provisions of this Section shall prevail. 

(iv)    Each party to the arbitration shall cooperate with each other party to the arbitration in making full disclosure
of and providing complete access to all information and documents requested by such other party in connection with such arbitral proceedings, subject only to any confidentiality obligations binding on such party. 

  
 44 

 (v)    The award of the arbitral tribunal shall be final and binding upon the
parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award. 

(vi)    The arbitral tribunal shall decide any Dispute submitted by the parties to the arbitration strictly in accordance
with the substantive Law of the State of New York (without regard to principles of conflict of Laws thereunder) and shall not apply any other substantive Law. 

(vii)    Any party to the Dispute shall be entitled to seek preliminary injunctive relief, if possible, from any court of
competent jurisdiction pending the constitution of the arbitral tribunal. 
 (viii)    During the course of the arbitral
tribunal’s adjudication of the Dispute, this Agreement shall continue to be performed except with respect to the part in dispute and under adjudication. 

12.6    Notices. Any notice required or permitted pursuant to this Agreement shall be given in writing and
shall be given either personally or by sending it by next-day or second-day courier service, fax, electronic mail or similar means to the address of the relevant Party
as shown on Schedule C (or at such other address as such Party may designate by fifteen (15) days’ advance written notice to the other Parties to this Agreement given in accordance with this Section). Where a notice is sent by next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying and
sending by next-day or second-day service through an internationally-recognized courier a letter containing the notice, with a written confirmation of delivery, and to
have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii) expiration of two (2) Business Days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail,
service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid, if
such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business Day. Notwithstanding the foregoing, to the extent a “with a copy to” address is designated, notice must also be given to such
address in the manner above for such notice, request, consent or other communication hereunder to be effective. 

12.7    Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing Party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled. 

12.8    Rights Cumulative; Specific Performance. Each and all of the various rights, powers and remedies of
a Party hereto will be considered to be cumulative with and in addition to any other rights, powers and remedies which such Party may have at Law or in equity in the event of the breach of any of the terms of this Agreement. The exercise or partial
exercise of any right, power or remedy will neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such Party. Without limiting the foregoing, the Parties hereto acknowledge and agree
irreparable harm may occur for which money damages would not be an adequate remedy in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the Parties shall be entitled to injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement. 

  
 45 

 12.9    Successor Indemnification. If the Company or any
of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, and permitted by applicable Law, proper
provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such
obligations are contained in the Memorandum and Articles, or elsewhere, as the case may be. 

12.10    Severability. In case any provision of the Agreement shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. If, however, any provision of this Agreement shall be invalid, illegal, or unenforceable under any such applicable Law in any
jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such Law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such
invalidity, illegality, or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality, or enforceability of such provision in any other jurisdiction. 

12.11    Amendments and Waivers. Any provision in this Agreement may be amended or waived, only by the
written consent of (i) the Company, (ii) the Requisite Series A Holders, (iii) the Requisite Series B Holders, (iv) the Requisite Series C Holders, and (v) the Requisite Ordinary Holders; provided, however, that
(1) no amendment or waiver shall be effective or enforceable in respect of a holder of any class or series of any shares of the Company if such amendment or waiver affects such holder materially and adversely differently from the other holders
of the same class or series of shares, unless such Persons consent in writing to such amendment or waiver, and (2) any provision that specifically and expressly gives a right to an Investor or a holder of Preferred Shares shall not be amended
or waived without the prior written consent of such Investor or holder. Notwithstanding the foregoing, any Party hereunder may waive any of its/his rights hereunder without obtaining the consent of any parties. Any amendment or waiver effected in
accordance with this Section shall be binding upon all the Parties hereto. 
 12.12    No Waiver. Failure
to insist upon strict compliance with any of the terms, covenants, or conditions hereof will not be deemed a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any
right, power or remedy hereunder at any one or more times be deemed a waiver or relinquishment of such right, power or remedy at any other time or times. 

12.13    Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any
Party under this Agreement, upon any breach or default of any other Party under this Agreement, shall impair any such right, power or remedy of such non-breaching or
non-defaulting Party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of
any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any Party of any breach or default under this
Agreement, or any waiver on the part of any Party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. 

  
 46 

 12.14    No Presumption. The Parties acknowledge that any
applicable Law that would require interpretation of any claimed ambiguities in this Agreement against the Party that drafted it has no application and is expressly waived. If any claim is made by a Party relating to any conflict, omission or
ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of any Party or its counsel. 

12.15    Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. Facsimile and e-mailed copies of signatures shall be deemed to be originals for purposes of the effectiveness
of this Agreement. 
 12.16    Entire Agreement. This Agreement (including the Exhibits hereto) together
with the other agreements and instruments referenced herein constitutes the full and entire understanding and agreement among the Parties with regard to the subject matters hereof, and supersedes all prior agreements and understandings between or
among any of the Parties with respect to the subject matters hereof. The Parties hereby agree that the Prior Shareholders Agreement shall be amended, restated and superseded by this Agreement in its entirety and terminate effective as of the
Effective Date.  
 12.17    Control. In the event of any conflict or inconsistency between
any of the terms of this Agreement and any of the terms of any of the Charter Documents for any of the Group Companies, or in the event of any dispute related to any such Charter Document, the terms of this Agreement shall prevail in all
respects as between the shareholders of the Company only, the Parties (other than the Company) shall give full effect to and act in accordance with the provisions of this Agreement over the provisions of the Charter Documents, and the
Parties hereto (other than the Company) shall exercise all voting and other rights and powers (including to procure any required alteration to such Charter Documents to resolve such conflict or inconsistency) to make the provisions of this
Agreement effective, and not to take any actions that impair any provisions in this Agreement. 

12.18    Aggregation of Shares. All Shares held or acquired by any Affiliates of an Investor shall be
aggregated together for the purpose of determining the availability of any rights of such Investor under this Agreement. 

12.19    Adjustments for Share Splits, Etc. Wherever in this Agreement there is a reference to a specific
number of Shares of the Company, then, upon the occurrence of any subdivision, combination or share dividend of the relevant class or series of the Shares, the specific number of shares so referenced in this Agreement shall automatically be
proportionally adjusted, as appropriate, to reflect the effect on the outstanding shares of such class or series of Shares by such subdivision, combination or share dividend. 

12.20    Grant of Proxy. Upon the failure of any Key Holder to vote the Equity Securities of the
Company held thereby, to implement the provisions of and to achieve the purposes of this Agreement, such Key Holder hereby grants to a Person designated by the Company a proxy coupled with an interest in all Equity Securities of the Company held by
such Key Holder, which proxy shall be irrevocable until this Agreement terminates pursuant to its terms or this Section is amended to remove such grant of proxy in accordance with Section 12.11 hereof, to vote all such
Equity Securities to implement the provisions of and to achieve the purposes of this Agreement. 

  
 47 

 12.21    Future Significant Holders. The Company and the Key
Holders shall cause any future holders of Shares representing more than one percent (1%) of the Company’s issued and outstanding share capital (on a fully diluted and as-converted basis) to enter into
this Agreement and become subject to the terms and conditions hereof as a Shareholder. The Parties hereto hereby agree that such future holders shall become parties to this Agreement by executing a joinder agreement in form and substance
satisfactory to the Requisite Preferred Holders, without any amendment of this Agreement, or any consent or approval of any other party. 

12.22    Independent Nature of Investors’ Obligations and Rights. The obligations of each Investor
under this Agreement are several and not joint, and no Investor is responsible in any way for the performance or conduct of any other Investor in connection with the transactions contemplated hereby. Nothing contained herein and no action taken by
any Investor pursuant hereto, shall be or shall be deemed to constitute a partnership, association, joint venture, or joint group with respect to the Investors. Each Investor agrees that no other Investor has acted as an agent for such Investor in
connection with the transactions contemplated hereby. 
 12.23    Use of English Language. This Agreement
has been executed and delivered in the English language. Any translation of this Agreement into another language shall have no interpretive effect. All documents or notices to be delivered pursuant to or in connection with this Agreement shall be in
the English language or, if any such document or notice is not in the English language, accompanied by an English translation thereof, and the English language version of any such document or notice shall control for purposes thereof. 

12.24    Obligations of Investors. The Company acknowledges that the Investors and their Affiliates,
members, equity holders, director representatives, partners, employees, agents and other related persons are engaged in the business of investing in private and public companies in a wide range of industries, including the industry segment in which
the Company operates (the “Company Industry Segment”). Accordingly, the Company and the Investors hereby acknowledge and agree that a Covered Person (subject to any obligations under Section 12.26) shall:

 (i)    have no obligation or duty (contractual or otherwise) to the Company to refrain from participating as a
director, investor or otherwise with respect to any company or other person or entity that is engaged in the Company Industry Segment or is otherwise competitive with the Company; and 

(ii)    in connection with making investment decisions, to the fullest extent permitted by Law, have no obligation or duty
(contractual or otherwise) to the Company, except as otherwise expressly agreed upon by the Company and such Covered Person, to refrain from using any information, including, but not limited to, market trend and market data, which comes into such
Covered Person’s possession, whether as a director or investor in, the Company or otherwise. 

12.25    Restriction on the Use of Certain Investor Terms and Confidentiality. 

  
 48 

 (i)    Without the written consent of Qiming, each of the Group Companies,
their shareholders (excluding Qiming), the Principals and the Key Holders shall not use the name or brand of Qiming or its Affiliates, claim itself as a partner of Qiming or its Affiliates or make any similar representations. Without the written
approval of Qiming, the Group Companies, their shareholders (excluding Qiming), the Principals and the Key Holders, shall not make or cause to be made, any press release, public announcement or other disclosure to any third party in respect of this
Agreement or any other Transaction Document or Qiming’s subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a Qualified IPO approved by the Board). 

(ii)    Without the written consent of Sequoia, each of the Group Companies, their shareholders (excluding Sequoia), the
Principals and the Key Holders shall not use the name or brand of Sequoia or its Affiliates, claim itself as a partner of Sequoia or its Affiliates, or make any similar representations. Without the written approval of Sequoia, each of the Group
Companies, their shareholders (excluding Sequoia), the Principals and the Key Holders shall not make or cause to be made, any press release, public announcement or other disclosure to any third party in respect of this Agreement or any other
Transaction Document or Sequoia’s subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a Qualified IPO approved by the Board). 

(iii)    Without the written consent of Maxway, each of the Group Companies, their shareholders (excluding Maxway), the
Principals and the Key Holders shall not use the name or brand of Maxway or its Affiliates, claim itself as a partner of Maxway or its Affiliates, or make any similar representations. Without the written approval of Maxway, each of the Group
Companies, their shareholders (excluding Maxway), the Principals and the Key Holders shall not make or cause to be made, any press release, public announcement or other disclosure to any third party in respect of this Agreement or any other
Transaction Document or Maxway’s subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a Qualified IPO approved by the Board). 

(iv)    Without the written consent of OrbiMed, each of the Group Companies, their shareholders excluding OrbiMed), the
Principals and the Key Holders shall not use the name or brand of OrbiMed or its Affiliates, claim itself as a partner of OrbiMed or its Affiliates, or make any similar representations. Without the written approval of OrbiMed, each of the Group
Companies, their shareholders (excluding OrbiMed), the Principals and the Key Holders shall not make or cause to be made, any press release, public announcement or other disclosure to any third party in respect of this Agreement or any other
Transaction Document or OrbiMed’s subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a Qualified IPO approved by the Board). 

(v)    Without the written consent of Vivo, each of the Group Companies, their shareholders excluding Vivo), the
Principals and the Key Holders shall not use the name or brand of Vivo or its Affiliates, claim itself as a partner of Vivo or its Affiliates, or make any similar representations. Without the written approval of Vivo, each of the Group Companies,
their shareholders (excluding Vivo), the Principals and the Key Holders shall not make or cause to be made, any press release, public announcement or other disclosure to any third party in respect of this Agreement or any other Transaction Document
or Vivo’s subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a Qualified IPO approved by the Board). 

  
 49 

 (vi)    Without the written consent of Rock Springs, each of the Group
Companies, their shareholders excluding Rock Springs), the Principals and the Key Holders shall not use the name or brand of Rock Springs or its Affiliates, claim itself as a partner of Rock Springs or its Affiliates, or make any similar
representations. Without the written approval of Rock Springs, each of the Group Companies, their shareholders (excluding Rock Springs), the Principals and the Key Holders shall not make or cause to be made, any press release, public announcement or
other disclosure to any third party in respect of this Agreement or any other Transaction Document or Rock Springs’ subscription of any share interest of the Company (except as required by applicable laws and regulations in connection with a
Qualified IPO approved by the Board). 
 12.26    KPCB Commitment. KPCB covenants to the Company that, so
long as KPCB holds any Equity Securities of the Company, it shall use commercially reasonable efforts to provide all necessary support requested by the Group in building the Group’s Business and product portfolio and any ancillary undertakings
reasonably related thereto. 
 [The remainder of this page has been intentionally left blank.] 

  
 50 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	GROUP COMPANIES:	 		  	
			
	Zai Lab Limited	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
			
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
	Zai Lab (Hong Kong) Limited

	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	

 (Zai Lab (Shanghai) Co., Ltd.)    	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	CHOP:	 		  	
			
	

 (Zai Lab (Suzhou) Co., Ltd.)	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	CHOP:	 		  	
			
	Zai Lab (Aust) Pty Ltd	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	

 [Signature Page to Shareholders Agreement] 

					
	  
 /s/ Ying Du

 
 Director

in the presence of: /s/ Mandy Li                
                                         
   
	 	  
 )

)
 )

)
	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	GROUP COMPANIES:	 		  	
			
	Zai Lab (US) LLC	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	ZLIP Holding Limited	 	)	  	
	and SIGNED and DELIVERED by                               
                     	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	ZL Capital Limited	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
			
	ZL China Holding Two Limited	 	)	  	
	and SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ying Du	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	PRINCIPAL AND KEY HOLDER:	 		  	
			
		 	)	  	
	/s/ Ying Du	 	)	  	
	                                     
                                         
                                   	 	)	  	
	SIGNED and DELIVERED by: Ying Du                            
            	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	PRINCIPALS:	 		  	
			
		 	)	  	
		 	)	  	
	/s/ Qi Liu                                   
  	 	)	  	
	SIGNED and DELIVERED by: Qi Liu	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
	/s/ Ning Xu                                 	 	)	  	
	SIGNED and DELIVERED by: Ning Xu	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
	/s/ James Shuizhong Yan            	 	)	  	
	SIGNED and DELIVERED by: James Shuizhong Yan                        	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
	/s/ Bo Zhang                                	 	)	  	
	SIGNED and DELIVERED by: Bo Zhang	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	KEY HOLDER AND INVESTOR:                               
                     	 		  	
			
	The Z Trust	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Director	 	)	  	
	in the presence of: /s/ Vivian Tao	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	ONE PERCENT HOLDERS:	 		  	
			
		 	)	  	
	/s/ Marietta Hui Wu                 	 	)	  	
	SIGNED and DELIVERED by: Marietta Hui Wu                        	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
	/s/ Maggie Yuan Ma                	 	)	  	
	SIGNED and DELIVERED by: Maggie Yuan Ma	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
	/s/ Yuzhen Cheng                      	 	)	  	
	SIGNED and DELIVERED by: Yuzhen Cheng	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
		 	)	  	
	/s/ Hongtao Lu                           	 	)	  	
	SIGNED and DELIVERED by: Hongtao Lu	 	)	  	
	in the presence of: /s/ Mandy Li	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	QM 11 Limited	 	)	  	
	SIGNED and DELIVERED by                                
                	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Authorized Signatory	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	Sequoia Capital CV IV Holdco, Ltd.                           
                     	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Authorized Signatory	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	KPCB China Fund II, L.P.	 	)	  	
	SIGNED and DELIVERED by KPCB China Associates II, L.P.,    	 	)	  	
	its General Partner	 	)	  	
	SIGNED and DELIVERED by KPCB China Holdings II, Ltd.,	 	)	  	
	its General Partner	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ Ava Hahn	 	)	  	
		 	)	  	
	Title: General Counsel            	 	)	  	
	in the presence of: /s/ Katy Fisk	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

							
	 INVESTOR:
	 				  	
			
	
Sprouts International Holdings Limited         
                   
	 	 	)	 	  	
	 SIGNED and DELIVERED by
	 	 	)	 	  	
		 	 	)	 	  	
	 /s/ [Illegible]
	 	 	)	 	  	
		 	 	)	 	  	
	 Title:
  Director                        
	 	 	)	 	  	
	 in the presence of: /s/ [Illegible]
	 	 	)	 	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	Maxway Investment Limited                               
                                 	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Director                        	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

							
	INVESTOR:	  		 		  	
				
	OrbiMed Asia Partners II, L.P.	  		 	)	  	
	SIGNED and DELIVERED by:	  	OrbiMed Asia GP II, L.P.                    	 	)	  	
		  	its General Partner	 	)	  	
		  		 	)	  	
	SIGNED and DELIVERED by:	  	OrbiMed Advisors II Limited	 	)	  	
		  	its General Partner	 	)	  	
		  		 	)	  	
		  	SIGNED and DELIVERED by:	 	)	  	
		  		 	)	  	
		  	/s/ Jonathan Wang	 	)	  	
		  	                                     
                                 	 	)	  	
		  	Name: Jonathan Wang	 	)	  	
		  	Title: Director	 	)	  	
	in the presence of:	  	/s/ Yifu Liu	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	SCC Growth I Holdco A, Ltd.                             
                   	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Authorized Signatory            	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

							
	INVESTOR:	  		 		  	
			
	OrbiMed Global Healthcare Master Fund, L.P.	 	)	  	
	SIGNED and DELIVERED by:	  	OrbiMed Advisors LLC,	 	)	  	
		  	solely in its capacity as Investment	 	)	  	
		  	Manager	 	)	  	
		  		 	)	  	
		  	SIGNED and DELIVERED by:	 	)	  	
		  		 	)	  	
		  	/s/ Carl Gordon                                 
   	 	)	  	
		  	Name: Carl Gordon	 	)	  	
		  	Title: Member	 	)	  	
	in the presence of:	  	/s/ Andrew So	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

							
	INVESTOR:	 		 		  	
			
	Vivo Capital Fund, VIII, L.P.	 	)	  	
	SIGNED and DELIVERED  by:	 	Vivo Capital VIII, LLC,	 	)	  	
	Its:	 	General Partner	 	)	  	
		 		 	)	  	
		 	SIGNED and DELIVERED by:	 	)	  	
		 		 	)	  	
		 	/s/ Chen Yu                                  
            	 	)	  	
		 	Name: Chen Yu	 	)	  	
		 	Title: Managing Member	 	)	  	
	in the presence of:	 	/s/ Brittanie Montoya	 	)	  	
			
	Vivo Capital Surplus Fund, VIII, L.P.	 	)	  	
	SIGNED and DELIVERED  by:	 	Vivo Capital VIII, LLC,	 	)	  	
	Its:	 	General Partner	 	)	  	
		 		 	)	  	
		 	SIGNED and DELIVERED by:	 	)	  	
		 		 	)	  	
		 	/s/ Chen Yu                                  
            	 	)	  	
		 	Name: Chen Yu	 	)	  	
		 	Title: Managing Member	 	)	  	
	in the presence of:	 	/s/ Brittanie Montoya	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	ROCK SPRINGS CAPITAL MASTER FUND LP	 	)	  	
	SIGNED and DELIVERED by Rock Springs General Partner LLC        	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Managing Member	 	)	  	
	in the presence of: /s/ Jill R. Seidman	 	)	  	

 [Signature Page to Shareholders Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as a Deed on the date and year first above written. 
  

					
	INVESTOR:	 		  	
			
	Cormorant Private Healthcare Fund I, LP	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Managing Member of the GP	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	
			
	Cormorant Global Healthcare Master Fund, LP            	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: Managing Member of the GP	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	
			
	CRMA SPV, L.P.	 	)	  	
	SIGNED and DELIVERED by Cormorant Asset Management, LLC            	 	)	  	
	its Attorney-in-Fact	 	)	  	
	SIGNED and DELIVERED by	 	)	  	
		 	)	  	
	/s/ [Illegible]	 	)	  	
		 	)	  	
	Title: CEO/CIO	 	)	  	
	in the presence of: /s/ [Illegible]	 	)	  	

 [Signature Page to Shareholders Agreement] 

 SCHEDULE A-1 

LIST OF PRINCIPALS 
  

	 	•	 	Ying Du, a U.S. citizen whose U.S. passport number is #########. 

  

	 	•	 	Qi Liu, a U.S. citizen whose U.S. passport number is #########. 

  

	 	•	 	Ning Xu, a PRC citizen whose PRC passport number is #########. 

  

	 	•	 	James Shuizhong Yan, a U.S. citizen whose U.S. passport number is #########. 

  

	 	•	 	Bo Zhang, a U.S. citizen whose U.S. passport number is #########. 

 SCHEDULE A-2 

LIST OF KEY HOLDERS 
  

	 	•	 	Ying Du 

  

	 	•	 	The Z Trust 

 SCHEDULE A-3 

LIST OF SERIES A INVESTORS 
  

	 	•	 	QM 11 Limited 

  

	 	•	 	Sequoia Capital CV IV Holdco, Ltd. 

  

	 	•	 	KPCB China Fund II, L.P. 

  

	 	•	 	Sprouts International Holdings Limited 

 SCHEDULE A-4 

LIST OF SERIES B INVESTORS 
  

	 	•	 	Maxway Investment Limited 

  

	 	•	 	QM 11 Limited 

  

	 	•	 	SCC Growth I Holdco A, Ltd. 

  

	 	•	 	OrbiMed Asia Partners II, L.P. 

  

	 	•	 	Sprouts International Holdings Limited 

 SCHEDULE A-5 

LIST OF SERIES C INVESTORS 
  

	 	•	 	OrbiMed Global Healthcare Master Fund, L.P. 

  

	 	•	 	OrbiMed Asia Partners II, L.P. 

  

	 	•	 	Vivo Capital Fund VIII, L.P. 

  

	 	•	 	Vivo Capital Surplus Fund VIII, L.P. 

  

	 	•	 	Rock Springs Capital Master Fund LP 

  

	 	•	 	Cormorant Private Healthcare Fund I, LP 

  

	 	•	 	Cormorant Global Healthcare Master Fund, LP 

  

	 	•	 	CRMA SPV, L.P. 

  

	 	•	 	QM 11 Limited 

  

	 	•	 	The Z Trust 

 SCHEDULE A-6 

LIST OF ONE PERCENT HOLDERS 
  

	 	•	 	Yuzhen Cheng, a Canadian citizen whose Canadian passport number is ########. 

  

	 	•	 	Marietta Hui Wu, a U.S. citizen whose U.S. passport number is #########. 

  

	 	•	 	Maggie Yuan Ma, a U.S. citizen whose U.S. passport number is #########. 

  

	 	•	 	Hongtao Lu, a U.S. citizen whose U.S. passport number is #########. 

 SCHEDULE B 

CAPITALIZATION TABLE 
  

																									
	 Name of Shareholders
	 	Issued
Ordinary
Shares	 	 	Issued
Series A
Preferred
Shares	 	 	Reserved
Ordinary
Shares	 	 	Reserved Series A
Preferred Shares
under Warrant	 	 	Issued
Series B
Preferred
Shares	 	 	Issued
Series C
Preferred
Shares	 
	 Ying Du
	 	 	8,060,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 The Z Trust
	 	 	24,940,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Peter Karl Wirth
	 	 	1,800,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Hongtao Lu
	 	 	3,465,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Yuzhen Cheng
	 	 	11,546,667	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Marietta Hui Wu
	 	 	3,200,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Bo Zhang
	 	 	4,900,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Maggie Yuan MA
	 	 	3,500,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Jonathan Chong Wang
	 	 	400,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Wei Liu
	 	 	910,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Biao Hai
	 	 	1,365,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Yajun Xu
	 	 	350,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Thomas Hideo Yamamoto
	 	 	300,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Debra Yu
	 	 	10,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Joseph Sylvanus D’Elia
	 	 	10,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Yiping James Li
	 	 	675,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 James Shuizhong Yan
	 	 	490,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Brian Hongdi Gu
	 	 	933,333	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Yanni Xiao
	 	 	500,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 

																									
	 Name of Shareholders
	 	Issued
Ordinary
Shares	 	 	Issued
Series A
Preferred
Shares	 	 	Reserved
Ordinary
Shares	 	 	Reserved Series A
Preferred Shares
under Warrant	 	 	Issued
Series B
Preferred
Shares	 	 	Issued
Series C
Preferred
Shares	 
	 Ann Tomoko Yamamoto
	 	 	50,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 The WY Trust
	 	 	1,000,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 ESOP
	 	 	—  	 	 	 	—  	 	 	 	42,813,603	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 QM 11 Limited
	 	 	1,400,000	 	 	 	53,753,033	 	 	 	—  	 	 	 	—  	 	 	 	7,272,790	 	 	 	—  	 
	 Sequoia Capital CV IV Holdco, Ltd.
	 	 	—  	 	 	 	17,917,677	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 SCC Growth I Holdco A, Ltd.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	5,387,251	 	 	 	—  	 
	 KPCB China Fund II, L.P.
	 	 	—  	 	 	 	22,723,873	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 Sprouts International Holdings Limited
	 	 	—  	 	 	 	7,058,757	 	 	 	—  	 	 	 	—  	 	 	 	377,107	 	 	 	—  	 
	 Maxway Investment Limited
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	40,404,387	 	 	 	—  	 
	 Harbor Front Investment Limited
	 	 	2,600,000	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 OrbiMed Asia Partners II, L.P.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	2,770,851	 	 	 	3,771,076	 	 	 	1,199,376	 
	 OrbiMed Global Healthcare Master Fund, L.P.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1,998,961	 
	 Vivo Capital Fund VIII, L.P.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	3,512,840	 
	 Vivo Capital Surplus Fund VIII, L.P.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	485,081	 
	 Rock Springs Capital Master Fund LP
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1,599,168	 
	 Cormorant Private Healthcare Fund I, LP
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1,593,571	 
	 Cormorant Global Healthcare Master Fund, LP
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	337,225	 
	 CRMA SPV, L.P.
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	68,165	 
	 QM 11 Limited
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	399,792	 
	 The Z Trust
	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	799,584	 
	 Total
	 	 	72,405,000	 	 	 	101,453,340	 	 	 	42,813,603	 	 	 	2,770,851	 	 	 	57,212,611	 	 	 	11,993,763	 

 SCHEDULE C 

ADDRESS FOR NOTICES 
 If to any Key
Holder, Principal and/or Group Company: 

					
		 	Address:	  	4F, Building 1, Jinchuang Plaza,
		 		  	4560 Jin Ke Road, Pudong New Area
		 		  	Shanghai, China
		 	Tel:	  	+86 21 6163 2579
		 	Fax:	  	+86 21 6163 2570
		 	Attention:	  	Samantha Du

 If to Qiming: 

					
		 	Address:	  	Unit 11, Level 3, Three Pacific Place, 1 Queen’s Road East, Hong Kong
		 	Tel:	  	+852 2855 6848
		 	Fax:	  	+852 2855 6800
		 	Attention:	  	Nisa Leung

 If to Sequoia Capital CV IV Holdco, Ltd.: 

					
		 	Address:	  	Suite 2215, Two Pacific Place, 88 Queensway Road, Hong Kong
		 	Tel:	  	+852 2501 8989
		 	Fax:	  	+852 2501 5249
		 	Attention:	  	KOK Wai Yee

 If to KPCB China Fund II, L.P.: 

					
		 	Address:	  	No.6, Lane 1350, Middle Fuxing Road, Xuhui District, Shanghai 200031, China
		 	Tel:	  	+86 21 6025 2116
		 	Fax:	  	+86 21 6025 2110
		 	Attention:	  	James Huang

 If to Sprouts International Holdings Limited: 

					
		 	Address:	  	Room 612, Building B, 2305 Zuchongzhi Road, Zhangjiang Hi-tech Park, Shanghai, China
		 	Tel:	  	+86 21 6163 0107
		 	Fax:	  	+86 21 6163 0172
		 	Attention:	  	Ming Li

 If to Maxway Investment Limited: 

					
		 	c/o Advantech Capital Advisors (HK) Limited
		 	Address:	  	Suites 1702-03, 17/F, One Exchange Square, 8 Connaught Place, Central, Hong Kong
		 	Tel:	  	+852 2801-6988
		 	Fax:	  	+852 2801 4882
		 	Attention:	  	Director

 If to OrbiMed Asia Partners II, L.P.: 

					
		 	Address:	  	Unit 4706, Raffles City Shanghai Office Tower, 268 Xizang Middle Road, Shanghai 200001, P.R.China
		 	Tel:	  	+86 21 6335 1709
		 	Fax:	  	+86 21 6335 1711
		 	Attention:	  	Jonathan Wang

 If to SCC Growth I Holdco A, Ltd.: 

					
		 	Address:	  	Suite 3613, 36/F, Two Pacific Place, 88 Queensway Road, Hong Kong
		 	Tel:	  	+852 2501 8989
		 	Fax:	  	+852 2501 5249
		 	Attention:	  	KOK Wai Yee

 If to OrbiMed Asia Partners II, L.P.: 

					
		 	Address:	  	Unit 4706, Raffles City Shanghai Office Tower, 268 Xizang Middle Road, Shanghai 200001, P.R.China
		 	Tel:	  	+86 21 6335 1709
		 	Fax:	  	+86 21 6335 1711
		 	Attention:	  	Jonathan Wang

 If to OrbiMed Global Healthcare Master Fund, L.P.: 

					
		 	Address:	  	c/o OrbiMed Advisors LLC
		 		  	601 Lexington Avenue, 54th Floor
		 		  	New York, NY 10022
		 	Tel:	  	212-739-6400
		 	Fax:	  	212-739-6444
		 	Email:	  	Legal@OrbiMed.com
		 	Attention:	  	Andrew So

 If to Vivo: 

					
		 	Address:	  	505 Hamilton Avenue, Suite 207, Palo Alto, CA 94301
		 	Tel:	  	650-688-0818
		 	Fax:	  	650-688-0815
		 	Attention:	  	Chen Yu

 If to Rock Springs Capital Master Fund LP: 

					
		 	Address:	  	650 South Exeter Street, Suite 1070, Baltimore, Maryland 21201
		 	Tel:	  	410-220-0130
		 	Fax:	  	410-220-0144
		 	Attn:	  	General Counsel

 If to Cormorant Private Healthcare Fund I, LP, Cormorant Global Healthcare Master Fund, LP, and/or CRMA SPV, L.P.: 

					
		 	Address:	  	200 Clarendon Street 52nd Floor, Boston, MA 02116
		 	Tel:	  	857 702 0388
		 	Fax:	  	617 507 5905
		 	Attention:	  	Jay Scollins

 EXHIBIT A 

FORM OF DEED OF ADHERENCE 
 THIS
DEED OF ADHERENCE is made                      day of
                    , 201     

BETWEEN 
  

	(1)	Zai Lab Limited, an exempted company organized under the laws of the Cayman Islands (the “Company”); and 

  

	(2)	[●] (the “New Shareholder”). 

 The Company and the New Shareholder shall be hereinafter
collectively referred to as the “Parties”. 
 WHEREAS: 
  

	(A)	As of [●], the Company and certain other parties identified therein entered into a Third Amended and Restated Shareholders Agreement (the “Shareholders Agreement”), attached hereto as Exhibit
A. 

  

	(B)	The New Shareholder wishes to acquire an aggregate of
                                         [INSERT
NUMBER and TYPE/CLASS OF SECURITIES] in the capital of the Company from
                                         [INSERT
NAME OF SELLER] (the “Transferor”) and in accordance with the terms and conditions of the Shareholders Agreement has agreed to enter into this Deed of Adherence (the “Deed”). 

 

	(C)	The Company is entering into this Deed on behalf of itself and as agent and trustee for all the existing Shareholders of the Company. 

NOW, THEREFORE, the Parties hereby agree as follows: 
  

	1.	Interpretation. In this Deed, except as the context may otherwise require, capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Shareholders Agreement.

  

	2.	Covenant. The New Shareholder hereby covenants to the Company as agent and trustee for all other persons who are at present or who may hereafter become bound by the Shareholders Agreement, and to the Company
itself, to adhere to and be bound by all the duties, burdens and obligations of the Transferor imposed pursuant to the provisions of the Shareholders Agreement and all documents expressed in writing to be supplemental or ancillary thereto as if the
New Shareholder had been an original party to the Shareholders Agreement since the date thereof. 

  

	3.	Enforceability. Each existing Shareholder and the Company shall be entitled to enforce the Shareholders Agreement against the New Shareholder, and the New Shareholder shall be entitled to all rights and benefits
of the Transferor under the Shareholders Agreement in each case as if such New Shareholder had been an original party to the Shareholders Agreement since the date thereof. 

	4.	Governing Law. This Deed shall be governed by and construed exclusively in accordance with the laws of Hong Kong without giving effect to any choice of law rule that would cause the application of the laws of any
jurisdiction other than the laws of Hong Kong to the rights and duties of the parties hereunder. 

  

	5.	Counterparts. This Deed may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile and e-mailed copies of signatures (including PDF) shall be deemed to be originals for purposes of the effectiveness of this Deed. 

  

	6.	Further Assurance. Each Party agrees to take all such further action as may be reasonably necessary to give full effect to this Deed on its terms and conditions. 

 

	7.	Headings. The headings used in this Deed are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

[REMINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS whereof the Parties have executed and delivered this Deed as a deed on the day and year first
hereinbefore mentioned. 
 COMPANY: 
 Signed as a deed
on behalf of 
 Zai Lab Limited, 
 an exempted company organized
under the laws of the Cayman Islands 
 by the signatory specified below, being a person who in accordance with the laws of that territory is acting under
the authority of the Company 
  

			
	By:	 	  

		 	Name:
		 	Title:
		
		 	            Address:
		 	            Fax:

 NEW SHAREHOLDER: 

signed as a deed on behalf of 
 [●] 

[a [●] organized under the laws of [●]] 
 by the
signatory specified below, being a person who in accordance with the laws of that territory is acting under the authority of the New Shareholder 
  

			
	By:	 	  

		 	Name:
		 	Title:
		
		 	Address:
		 	Fax:EX-10.2

 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and
filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit
10.2 
 COLLABORATION, DEVELOPMENT AND LICENSE AGREEMENT 

THIS COLLABORATION, DEVELOPMENT AND LICENSE AGREEMENT (the “Agreement”) is made and entered into as of September 28,
2016 (the “Effective Date”), by and between TESARO, Inc., a Delaware corporation with a place of business at 1000 Winter Street, Suite 3300, Waltham, Massachusetts, United States of America, 02451 (“TESARO
Inc.”), TESARO Development Ltd., a Bermuda corporation with a place of business at Clarendon House, 2 Church Street, Hamilton HM 11 Bermuda (“TSRO Ltd.”, and together with “TESARO Inc.”,
“TESARO”) and Zai Lab (Shanghai) Co., Ltd. having its principal office at 1043 Halei Road, Building 8, Suite 502, Pudong, Shanghai, P.R. China, 201203 (“ZAI”). TESARO and ZAI are sometimes referred to herein
individually as a “Party” and collectively as the “Parties.” 
 RECITALS 

WHEREAS, TESARO is developing a proprietary PARP inhibitor, Niraparib, and owns or controls certain patents,
know-how and other intellectual property rights with respect to such compound; and 
 WHEREAS, ZAI
is a company focusing on the development of innovative drug candidates, including immuno-oncology-focused drug-candidates, primarily in China; and 

WHEREAS, ZAI desires to obtain an exclusive license from TESARO to develop and commercialize niraparib in China, and TESARO is willing to
grant such a license to ZAI, all on the terms and conditions set forth herein; 
 WHEREAS, the parties desire to potentially co-market niraparib in China and to provide TESARO the right to exercise such co-marketing rights on the terms and conditions set forth herein; and 

WHEREAS, TESARO desires to obtain an option to obtain an exclusive license from ZAI to research, develop, manufacture, and commercialize
certain immune-oncology assets being developed by ZAI outside of China, and ZAI is willing to grant such an option on TESARO, all on the terms and conditions set forth herein. 

NOW, THEREFORE in consideration of the foregoing and the mutual agreements set forth below, the Parties agree as follows. 

  
 1. 

 1. DEFINITIONS 

The terms in this Agreement with initial letters capitalized, whether used in the singular or the plural, shall have the meaning set forth
below or, if not listed below, the meaning designated in places throughout this Agreement. 
 1.1 “Affiliate” of a
Person means any other Person which (directly or indirectly) is controlled by, controls or is under common control with such Person, for so long as such control exists. For the purposes of this definition, the term “control” (including,
with correlative meanings, the terms “controlled by” and “under common control with”) as used with respect to a Person means (a) direct or indirect ownership of voting securities entitled to cast more than fifty percent
(50%) (or, if less than 50%, the maximum ownership interest permitted by Applicable Law) of the votes in the election of directors of such entity, or (b) the possession, directly or indirectly, of the power to direct the management and policies
of such entity, whether through ownership of voting securities, by contract or otherwise. 
 1.2 “Applicable Law”
means all applicable laws, statutes, rules, regulations, ordinances and other pronouncements having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision, agency or other body,
domestic or foreign. 
 1.3 “AZ Agreements” means the following agreements between TESARO and AstraZeneca UK Limited
(“AZ”): the Patent License Agreement dated October 4, 2012, between AZ (the Institute of Cancer Research) and TESARO; and the Patent License Agreement dated October 4, 2012, between AZ (University of Sheffield) and TESARO.

 1.4 “Business Day” or “business day” means a day other than Saturday, Sunday or any day on which
commercial banks located in Shanghai, China or New York City, New York, U.S. (as applicable) are authorized or obligated by Applicable Law to close. 

1.5 “Calendar Quarter” means the respective periods of three (3) consecutive calendar months ending on
March 31, June 30, September 30 and December 31. 
 1.6 “Calendar Year” means each successive period
of twelve (12) months commencing on January 1 and ending on December 31. 
 1.7 “CDE” means the Chinese
Center for Drug Evaluation. 
 1.8 “CFDA” means the China Food and Drug Administration, or any successor agency with
a similar scope of responsibility regarding the regulation of human pharmaceutical products in China. 
 1.9 “China”
means mainland China, Hong Kong and Macau. 

  
 2. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.10 “Commercialization” or “Commercialize” means all
activities directed to marketing, distributing, detailing or selling a Licensed Product (as well as importing and exporting activities in connection therewith), including all activities directed to obtaining pricing approvals. 

1.11 “Commercially Reasonable Efforts” means the performance of obligations or tasks in a manner consistent with the
reasonable practices of companies in the biopharmaceutical industry having similar financial resources for the Development or Commercialization (as applicable) of a product having similar technical and regulatory factors and similar market
potential, profit potential and strategic value, and that is at a similar stage in its Development or product life cycle as the Licensed Product, in each case based on conditions then prevailing and without regard to any competitive internal program
of Licensee. Commercially Reasonable Efforts requires that the Party (a) promptly assign responsibility for such obligations to specific employees who are held accountable for progress and monitoring such progress on an ongoing basis,
(b) set and consistently seek to achieve specific and meaningful objectives for carrying out such obligations, and (c) consistently make and implement decisions and allocate adequate resources designed to advance progress with respect to
such obligations. 
 1.12 “Confidential Information” means all information, including trade secrets, processes,
formulae, Data, know-how, improvements, inventions, chemical or biological materials, assays, techniques, marketing plans, strategies, customer lists, or other information that has been disclosed by or on
behalf of one Party to the other Party under this Agreement, regardless of whether any of the foregoing are marked “confidential” or “proprietary” or communicated in oral, written, graphic, or electronic form, or by visual
inspection. 
 1.13 “Controlled” or “Controls”, when used in reference to any particular subject
matter including Patents, know-how, tangible materials or other intellectual property rights, means the legal authority or right of a Party to grant a license or sublicense to such subject matter to another
Party, or to otherwise provide such other Party the right to access and use such subject matter, whether arising by ownership, license, or other authorization, without breaching the terms of any written agreement with a Third Party under which such
Party first acquired rights to such subject matter, or misappropriating the proprietary or trade secret information of a Third Party. 

1.14 “Cover,” “Covered” or “Covering” means, with respect to a Patent, that, but for
rights granted to a Person under such Patent, the practice by such Person of an invention claimed in such Patent would infringe a Valid Claim included in such Patent, or in the case of a Patent that is a patent application, would infringe a Valid
Claim in such patent application if such claim were to issue in a patent as then prosecuted. 
 1.15 “Data” means pre-clinical, clinical, chemical, manufacturing and analytical data and any other data and information generated or resulted from the Development or Commercialization of the Licensed Compounds or Licensed Products.

 1.16 “Development” means, with respect to a Licensed Product, all processes and activities that are reasonably
required to obtain Regulatory Approval of such Licensed Product, including, without limitation, toxicology, pharmacology and other pre-clinical efforts, test method development and stability testing,
statistical analysis, clinical studies and regulatory activities. When used as a verb, “Develop” means to engage in Development. 

  
 3. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.17 “Dollar(s)” or “$” means the lawful currency of the
United States. 
 1.18 “Executive Officer” means, (a) in the case of TESARO, TESARO’s Chief Executive
Officer; and (b) in the case of ZAI, ZAI’s Chief Executive Officer. 
 1.19 “FDA” means the U.S. Food and
Drug Administration, or any successor agency of the U.S. government with a similar scope of responsibility regarding the regulation of human pharmaceutical products. 

1.20 “Field” means the treatment, diagnosis and prevention of any diseases or conditions in humans, other than the
treatment, diagnosis and prevention of prostate cancer. 
 1.21 “First Commercial Sale” means, with respect to any
Licensed Product, the first sale of such Licensed Product by ZAI or its Affiliates or sublicensees to an unrelated Third Party in the ZAI Territory after Regulatory Approval of such Licensed Product has been granted in the ZAI Territory. For
clarity, First Commercial Sale does not include the supply or transfer of Licensed Product to an Affiliate or sublicensee or for clinical trials, compassionate use or sales made on a named-patient basis. 

1.22 “Follow-on Compound” means a Licensed Compound other than Niraparib. 

1.23 “GCP” means the Good Clinical Practice for Drugs (i.e.

) promulgated by CFDA effective as of September 1, 2003, together with any guidelines and/or implementation rules issued by CFDA in connection thereto, in each case as amended from time to time. 

1.24 “Government Official” means: (a) any officer or employee of a government or any department, agency or
instrument of a government; (b) any person acting in an official capacity for or on behalf of a government or any department, agency, or instrument of a government; (c) any officer or employee of a company or business owned in whole or
part by a government; (d) any officer or employee of a public international organization such as the World Bank or United Nations; (e) any officer or employee of a political party or any person acting in an official capacity on behalf of a
political party; and/or (f) any candidate for political office; who, when such Government Official is acting in an official capacity, or in an official decision-making role, has responsibility for performing regulatory inspections, government
authorizations or licenses, or otherwise has the capacity to make decisions with the potential to affect the business of either of the Parties. 

1.25 “Indication” means, with respect to a Licensed Compound or Licensed Product, the use of that Licensed Compound or
Licensed Product for the treatment, prevention, mitigation or cure of any cancer with a particular organ of origin. Indications will be deemed the same for purposes of this Agreement if the subject cancers have the same organ of origin even if

  
 4. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
they are, for example, of a different histologic or genetic subtype or line of therapy (e.g., breast cancer, 1st line and 2nd line therapies for ovarian cancer), and will be deemed different if the subject cancers have different organs of origin (e.g., breast cancer and ovarian cancer). Among
non-solid tumor cancers, Indications for leukemia, lymphoma and multiple myeloma, but not their subtypes or lines of therapy, shall be considered different Indications. 

1.26 “Invention” means any and all inventions and improvements, whether or not patentable, that are conceived or
reduced to practice or otherwise made or discovered by or on behalf of a Party (and/or its Affiliates) (whether alone or jointly) in the performance of its obligations, or the exercise of its rights, under this Agreement, including but not limited
to, processes, methods, compositions of matter, formula, formulations, articles of manufacture, discoveries or findings, compounds, products, biological materials, cell lines, samples of assay components, media, designs, ideas, programs, software
models, algorithms, developments, experimental works, compilations of data, in each case relating to Licensed Compound and Licensed Products. 

1.27 “Joint Invention” means any Invention invented, made or discovered jointly by both Parties. 

1.28 “Licensed Compound” means TESARO’s proprietary PARP inhibitor known as Niraparib, having chemical structure
set forth in Exhibit A, and any pharmaceutically acceptable salt, polymorph, crystal form, prodrug or solvate thereof. 

1.29 “Licensed Product” means any pharmaceutical product containing the Licensed Compound, in all forms, presentations,
formulations and dosage forms, for use in the Field. 
 1.30 “Merck Agreement” means that certain License Agreement
between TESARO and Merck, Sharp & Dohme Corp. (“Merck”), dated May 22, 2012, as amended from time to time. 

1.31 “NDA” means a new drug application or marketing authorization application filed with the applicable Regulatory
Authority in a country or jurisdiction, which application is required for marketing approval for a Licensed Product in the Field in such country or jurisdiction. 

1.32 “Net Sales” means, with respect to any Licensed Product, the amount invoiced by ZAI, its Affiliates or
sublicensees for the sales of such Licensed Product to a Third Party in the ZAI Territory less: 
 (a) trade and quantity discounts
other than early payment cash discounts; 
 (b) returns, rebates, chargebacks and other allowances; 

(c) retroactive price reductions that are actually allowed or granted; 

  
 5. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (d) sales commissions paid to Third Party distributors and/or selling agents; 

(e) deductions to gross invoice price of Product imposed by Regulatory Authorities or other governmental entities; 

(f) a fixed amount equal to three percent (3%) of the amount invoiced to cover bad debt, early payment cash discounts, transportation
and insurance and custom duties; and 
 (g) the standard inventory cost of devices or delivery systems used for dispensing or
administering Product. 
 If a Licensed Product is sold as part of a combination that (i) contains the Licensed Compound and at least
one additional therapeutically active ingredient that is not a Licensed Compound; or (ii) is product consisting of one or more separate drugs, devices, tests, kits or biological products and sold together with a Licensed Product in a single
package or as a unit (a “Combination Product”), the Net Sales of such Licensed Product for the purpose of calculating royalties owed under this Agreement for sales of such Licensed Product, shall be determined as follows: first,
determine the actual Net Sales of such Combination Product (using the above provisions) and then such amount shall be multiplied by the fraction A/(A+B), where A is the average gross selling price in the applicable country of the Licensed Compound
sold separately, if sold separately, in the same formulation and dosage, and B is the sum of the average gross selling prices in the applicable country of each other active ingredient, drug, device, test, kit or biological product in the Combination
Product sold separately, if sold separately, in the same formulation, dosage or unit quantity. If any active ingredient, drug, device, test, kit or biological product in the Combination Product is not sold separately in the relevant formulation,
dosage or unit quantity, Net Sales shall be calculated by multiplying actual Net Sales of such Combination Product by the fraction A/C where A is the average gross selling price in the applicable country of such Licensed Compound sold separately in
the same formulation and dosage and C is the average gross selling price in the applicable country of such Combination Product. If neither the Licensed Compound nor any other active ingredient, drug, device, test, kit or biological product in the
Combination Product is sold separately in the relevant formulation, dosage or unit quantity, the adjustment to Net Sales shall be determined by the Parties in good faith to reasonably reflect the fair market value of the contribution of the Licensed
Compound in the Combination Product to the total fair market value of such Combination Product. 
 1.33 “Patents”
means all of the following, whether existing as of the Effective Date or during the Term, anywhere in the world: (a) patents and patent applications, (b) all priority applications, provisionals, divisionals, continuations, and continuations-in-part of any of the foregoing, and (c) all patents issuing on any of the foregoing patent applications, together with all inventor’s certificates,
substitutions, validations, registrations, reissues, renewals, reexaminations, confirmations, supplementary protection certificates, and extensions of any of (a), (b) or (c). 

1.34 “Person” means any individual, firm, corporation, partnership, limited liability company, trust, business trust,
joint venture company, governmental authority, association or other entity. 

  
 6. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.35 “Phase 3 Clinical Trial” means a clinical trial of a Licensed
Product in human patients with a defined dose or a set of defined doses designed to ascertain efficacy and safety of such Licensed Product for the purpose of enabling the preparation and submission of NDA to the competent Regulatory Authorities, as
further defined in 21 C.F.R. 312.21(c), as amended from time to time, or the corresponding foreign regulations. 
 1.36
“Regulatory Approval” means all approvals, including if required by Applicable Law, pricing approvals, necessary for the manufacture, marketing, importation, exportation and sale of a Licensed Product in the ZAI Territory, which
may include, without limitation, satisfaction of all applicable regulatory and notification requirements. 
 1.37 “Regulatory
Authority” means any federal, national, supranational, state, provincial or local regulatory agency, department, bureau or other governmental authority, including, without limitation, the CDE and the CFDA, that has authority over the
manufacture, Development, Commercialization or other use or exploitation (including the granting of Regulatory Approval) of any Licensed Product in any applicable regulatory jurisdiction. 

1.38 “Regulatory Materials” means materials developed or compiled in preparation for Regulatory Authority meetings,
regulatory applications, submissions, dossiers, notifications, registrations, Regulatory Approvals and/or other filings made to or with, or other approvals granted by, a Regulatory Authority that are necessary or reasonably desirable for the
Development, manufacture, market, sale, or Commercialization of a Licensed Product in a particular regulatory jurisdiction. 
 1.39
“Sole Invention” means any Invention invented or discovered solely by or on behalf of a Party following the Effective Date, including by its employees, contractors and/or agents. 

1.40 “Subcontractor” means a Third Party engaged by ZAI for the purpose of conducting clinical Development for Licensed
Products, contract manufacturing, toxicology testing and other related Development Activities, solely at the direction, and on behalf of, ZAI. 

1.41 “TESARO IP” means TESARO Know-How and TESARO Patents. 

1.42 “TESARO Know-How” means all technical information, data and know- how
Controlled by TESARO or its Affiliates as of the Effective Date or during the Term (including, without limitation, all biological, chemical, pharmacological, toxicological or clinical know-how, Data and trade
secrets) that are reasonably necessary for the Development, manufacture or Commercialization of the Licensed Compound or Licensed Product in the ZAI Territory. TESARO Know-How shall also include the
(a) intangible knowledge and information conveyed to ZAI as set forth in Section 4.1 and (b) TESARO’s right and interest in and to any Joint Inventions. TESARO Know-How
does not include TESARO Patents. 
 1.43 “TESARO Patents” means all Patents Controlled by TESARO or its Affiliates as
of the Effective Date or during the Term that relate to the ZAI Territory and that Covers (a) the compositions of matter of the Licensed Compound or Licensed Product; (b) methods or processes directed to the manufacture of the Licensed
Compound or Licensed Product; or (c) methods of use, administration or formulation of the Licensed Compound or Licensed Product, including without limitation, the Patents that are listed in Exhibit B hereto. TESARO Patents shall
also include TESARO’s rights and interest in and to any Joint Patents. 

  
 7. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.44 “TESARO Territory” means all countries and territories in the world
other than those countries and territories included in the ZAI Territory. 
 1.45 “Territory” means (a) with
respect to TESARO, the TESARO Territory and (b) with respect to ZAI, the ZAI Territory. 
 1.46 “Third Party”
means any Person other than: ZAI, TESARO, and their respective Affiliates. 
 1.47 “United States” or
“U.S.” means the United States of America and its territories and possessions (including, without limitation, Puerto Rico). 

1.48 “Upstream Agreements” means the AZ Agreements and the Merck Agreement. 

1.49 “Upstream Licensors” means Astra Zeneca and Merck. 

1.50 “Valid Claim” means a claim of (a) an issued and unexpired patent, which claim has not been held invalid or
unenforceable by a court or other government agency of competent jurisdiction from which no appeal can be or has been taken and has not been held or admitted to be invalid or unenforceable through
re-examination or disclaimer, opposition procedure, nullity suit or otherwise, or (b) a pending patent application; provided, however, that if a claim of a pending patent application shall not have
issued within seven (7) years after the earliest filing date from which such claim takes priority, such claim shall no longer constitute a Valid Claim for the purposes of this Agreement unless and until a patent issues with such claim. 

1.51 “ZAI Territory” means China. 

1.52 Additional Definitions. The following table identifies the location of definitions set forth in various Sections of the Agreement:

  

					
	 Defined Terms
	  	Section	 
	 Alliance Managers
	  	 	3.7	 
	 Claim
	  	 	12.1	 
	 Development Plan
	  	 	5.2	 
	 Disclosing Party
	  	 	11.1	 
	 Excluded Claim
	  	 	14.3	 
	 Force Majeure
	  	 	15.3	 
	 ICC
	  	 	14.2	 
	 Infringement
	  	 	10.3	(a) 
	 Joint Patents
	  	 	10.1	(a) 
	 Joint Steering Committee or JSC
	  	 	3.1	 

  
 8. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
	 Pharmacovigilance Agreement
	  	 	5.7	 
	 Prior CDA
	  	 	11.6	 
	 Receiving Party
	  	 	11.1	 
	 Remedial Action
	  	 	5.8	 
	 Royalty Term
	  	 	8.3	(b) 
	 Term
	  	 	13.1	 
	 Working Team
	  	 	3.7	 

 2. LICENSE GRANT 

2.1 License to ZAI. TESARO hereby grants to ZAI an exclusive (but subject to TESARO’s retained right under Section 2.2
below), royalty bearing and sublicenseable (in accordance with Section 2.3 below) license under the TESARO IP to Develop, make, have made, use, offer for sale, sell, have sold, import and otherwise Commercialize the Licensed Compound and
Licensed Products in the Field in the ZAI Territory. 
 2.2 Retained Rights. Subject to the terms and conditions of this
Agreement, TESARO retains: (a) the right to practice the TESARO IP within the scope of the license granted to ZAI under Section 2.1 to perform TESARO’s obligations under this Agreement; (b) the right to
practice and license the TESARO IP outside the scope of the license granted to ZAI under Section 2.1. 
 2.3
Sublicense. ZAI shall have the right to grant sublicenses, under the license granted by TESARO to ZAI under Section 2.1 to its Affiliates, subcontractors and other Third Parties; provided, that TESARO provides
its prior written consent to such sublicense granted to any Third Parties, such consent not to be unreasonably withheld, conditioned or delayed; and provided further, that a sublicense to an Affiliate shall not require TESARO’s consent only for
so long as such Affiliate remains an Affiliate of ZAI. Each sublicense agreement shall be consistent with, and shall be subject to, the terms and conditions of this Agreement, and ZAI shall remain responsible for the performance of its obligations
under this Agreement, regardless of whether ZAI may have delegated those obligations to its sublicensees. ZAI shall, within thirty (30) days after granting any sublicense, notify TESARO of the grant of such sublicense and provide TESARO with a
copy of such sublicense, which may be redacted to remove any sensitive information not necessary for TESARO to verify its compliance with the terms of this Agreement. 

2.4 No Implied Licenses, Negative Covenant. Except as expressly set forth herein, neither Party shall acquire any license or
other right or interest, by implication or otherwise, under any know-how, patents, trademarks, copyrights, or any other intellectual property of the other Party. ZAI covenants that it will not, and it will not
permit any of its Affiliates or sublicensees to, use or practice any TESARO IP outside the scope of the license granted to it under Section 2.1 above. 

  
 9. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 2.5 Subcontracting. Notwithstanding Section 2.3, ZAI
shall have the right to engage Subcontractors to perform Development and manufacturing activities hereunder, without the prior written consent of TESARO, subject to the provisions of this Section 2.5. ZAI shall enter into
an appropriate written agreement with any subcontractor such that (i) such contractor shall be bound by provisions that are consistent with all applicable provisions of this Agreement to the same extent as ZAI, (ii) any such contractor to
whom ZAI discloses Confidential Information of TESARO shall enter into an appropriate written agreement obligating such contractor to be bound by obligations of confidentiality and restrictions on use of such TESARO Confidential Information that are
no less restrictive than the obligations in this Agreement, and (iii) such contractor agrees to assign or license (with the right to grant sublicenses) to ZAI any inventions related to the Licensed Compound or Licensed Product(s) (and any
Patent covering such inventions) made by such contractor in performing such Development or manufacturing work for ZAI. ZAI shall not use as a Subcontractor any Third Party identified by TESARO to ZAI in writing, as a prohibited Subcontractor,
provided that if ZAI obtains TESARO’s written approval to engage any particular Subcontractor(s), then TESARO shall not have the right to subsequently designate such Subcontractor(s) as prohibited Subcontractor(s). 

2.6 Right of First Negotiation. On the condition that ZAI is in compliance with the terms and conditions of this Agreement,
TESARO hereby grants ZAI the right of first negotiation to obtain a license to Develop and Commercialize in the Field in the ZAI Territory any Follow-on Compound; provided, that TESARO is also Developing such follow-on compound and TESARO has dosed the first patient in a Phase 1 Clinical Trial with such Follow-on Compound. With respect to each
Follow-on Compound, TESARO shall provide written notice to ZAI before filing any IND for such compound, which notice shall include a reasonably detailed summary of the
pre-clinical data generated during the research and development of such compound. If ZAI notifies TESARO within thirty (30) days after the receipt of such notice that it is interested in obtaining a
license to develop and commercialize such compound in the Field in the Territory, then TESARO shall negotiate in good faith and exclusively with ZAI for a period of sixty (60) days the terms and conditions of such license. If the parties fail
to reach agreement on the terms and conditions of such a license within such ninety (90) days, TESARO may enter into discussion with and grant such a license to any Third Party and/or develop and commercialize such compound in the Field in the
Territory by itself. 
 2.7 PARP Inhibitor Exclusivity. As partial consideration for TESARO granting to ZAI the license set
forth in Section 2.1, during the Term, ZAI shall not, and shall cause its Affiliates to not, itself or in cooperation with or through others, discover, research, develop, manufacture or commercialize any PARP Inhibitor
other than the Licensed Compounds and Licensed Product hereunder. In the event ZAI wishes to obtain the right (by licensing, merger or acquisition or otherwise) to discover, research, develop, manufacture or commercialize any PARP Inhibitor other
than the Licensed Compounds and Licensed Products, ZAI shall notify TESARO in writing, and TESARO may determine, in its sole discretion, [*]. 

2.8 Co-Marketing Right. (a) Notwithstanding anything in this Agreement to the
contrary, TESARO shall have an exclusive right to co-promote each Licensed Product in the Field in the ZAI Territory (the “Co-Promote Right”) on the
terms set forth in this Section 2.8. TESARO shall provide written notice to ZAI of its intent to exercise the foregoing Co-Promote Right with respect to a Licensed Product no later
than twelve months prior to the First Commercial Sale of such Licensed Product in the ZAI Territory (the “Co-Promote Notice”). The Co-Promote Notice
shall include TESARO’s written commitment to the following [*]. 

  
 10. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b) For a period of ninety (90) days following ZAI’s receipt of a Co-Promote Notice, TESARO and ZAI will negotiate in good faith commercially reasonable terms [*] upon which the parties would co-promote the applicable Licensed Product in the
ZAI Territory. If TESARO does not deliver a Co-Promote Notice for a Licensed Product to ZAI within the applicable twelve-month period prior to First Commercial Sale of such Licensed Product, then TESARO shall
be deemed to have waived its rights under this Section 2.8 solely with respect to the applicable Licensed Product. If TESARO and ZAI do not mutually agree on the terms upon which the parties would
co-promote the applicable Licensed Product in the ZAI Territory within the ninety (90) day negotiation period described above, then the matter shall be referred to the Parties’ Executive Officers,
who shall meet promptly (either in person or via teleconference) and negotiate in good faith in an attempt to come to an agreement. If the Executive Officers cannot come to an agreement within fifteen (15) days, then the final terms of the co-promote shall be determined in accordance with the binding arbitration procedure set forth in Section 14.2, except that the arbitrator’s decision will be limited to selecting either the terms proposed
by TESARO or the terms proposed by ZAI, and such determination shall be final and binding on, and non-appealable by, the Parties. 

3. GOVERNANCE 
 3.1
Establishment of JSC. The Parties will establish a joint steering committee to review and oversee the Development and Commercialization of the Licensed Compounds and Licensed Products and to coordinate the Parties’ activities under
this Agreement (the “Joint Steering Committee” or “JSC”). Within thirty (30) days after the Effective Date, each Party shall appoint two (2) representatives to the JSC, each of which shall have sufficient
seniority and relevant expertise to make decisions within the scope of the JSC’s responsibilities. The JSC may change its size from time to time by mutual consent of the Parties; provided, that the JSC will consist at all times of an equal
number of representatives of each of ZAI and TESARO. Each Party may at any time replace its JSC representatives upon written notice to the other Party. 

3.2 Co-Chairpersons of JSC. Each of ZAI and TESARO will select from their representatives
a co-chairperson for the JSC, and each Party may change its designated co- chairperson from time to time upon written notice to the other Party. The co-chairpersons of the JSC will be responsible for calling meetings, preparing and circulating an agenda and relevant materials (including drafts of, updates to, or any proposed changes to a Development Plan) to the
other Party at least ten (10) business days in advance of each meeting, and preparing and issuing minutes of each meeting within ten (10) business days thereafter. 

3.3 JSC Responsibilities. The JSC shall be responsible for: 

(a) coordinating the activities of the Parties under this Agreement and providing a forum for and facilitate communications between the
Parties under this Agreement; 
 (b) reviewing, discussing and approving changes to the Development Plan, overseeing the
implementation of the Development Plan, and reviewing and discussing the data and results of the Development activities under the Development Plan, in each case, subject to the provisions of Section 3.5, below, 

  
 11. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) reviewing and discussing the Commercialization Plan and Commercialization of the
Licensed Products in the ZAI Territory; 
 (d) reviewing, discussing and coordinating scientific presentations and publication plans
with respect to the Licensed Compound, Licensed Product and any results arising therefrom during the course of the Development Plan in the ZAI Territory, and 

(e) performing such other functions as appropriate to further the purposes of this Agreement, as expressly set forth in this Agreement
or allocated to it by the Parties in writing by mutual agreement. 
 3.4 JSC Meetings. The JSC will hold meetings (either in-person or by teleconference or videoconference) at such times and places as the co-chairpersons may reasonably determine, provided that, unless the Parties agree
otherwise, the JSC will meet quarterly and only by teleconference, videoconference or some other electronic means. Each Party will bear its own costs associated with attending meetings. Each Party may from time to time invite a reasonable number of
participants, in addition to its representatives, to attend the JSC meetings in a non-voting capacity. Each individual attending any JSC meeting hereunder (whether as a JSC member or invitee) shall be bound by
written non-use, non-disclosure terms and conditions at least as restrictive as those set forth in this Agreement with respect to the Confidential Information of the
other Party (for clarity, this may be through employment agreements with such individuals). 
 3.5 JSC Authority; Limitations. Day-to-day operational level decisions concerning the Development, manufacture and Commercialization of the Licensed Compounds and Licensed Products in the ZAI Territory shall
be made by ZAI. Material updates or changes to the Development Plan, including (for clarity) any new clinical protocols or material changes to an approved clinical protocol or material changes to strategy with respect to regulatory activities in the
ZAI Territory, shall require approval of the JSC. The members of each Party on the JSC shall collectively have one vote. Except as otherwise provided in this Section 3.5, decisions of the JSC shall be made by unanimous vote, provided
that at least one (1) representative from each Party participates in such vote. If the JSC does not reach unanimity with respect to a particular matter, and the JSC is unable to resolve the dispute after endeavoring for fifteen
(15) business days to do so, then either Party may, by written notice to the other, have such matter referred to the Parties’ Executive Officers, who shall meet promptly (either in person or via teleconference) and negotiate in good faith
to resolve the dispute. If the Executive Officers cannot resolve on such dispute within fifteen (15) days, then ZAI shall have the final decision making authority on such matter to the extent the matter that is the subject of the dispute
relates solely to the Development, manufacture or Commercialization of the Licensed Compounds or the Licensed Products in the ZAI Territory and does not impact the Development, manufacture or Commercialization of the Licensed Compounds or the
Licensed Products in the TESARO Territory. 
 3.6 Limitations on authority of JSC. The JSC will have sole authority with
respect to the responsibilities assigned to such committees in Section 3.3 and elsewhere in this Agreement. The JSC shall not have any authority to amend, modify or waive compliance with this Agreement. For clarity, neither
TESARO nor ZAI will have any right to unilaterally modify, amend or waive its own compliance with the terms of this Agreement. 

  
 12. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 3.7 Alliance Managers. Each Party shall appoint a single individual to act as the
primary point of contact between the Parties in connection with the Development and Commercialization of the Licensed Compound and Licensed Product(s) (the “Alliance Managers”). Each Party may at any time appoint a different
Alliance Manager by written notice to the other Party and may elect, upon mutual agreement by the Parties, to eliminate the responsibilities of the Alliance Managers. The Alliance Managers will (i) use good faith efforts to attend all meetings
of the JSC, any may also serve as voting members of the JSC, and (ii) be the first point of referral for all matters of conflict resolution, and bring disputes to the attention of the JSC in a timely manner. 

4. TECHNOLOGY TRANSFER 

4.1 Know-How. Promptly after the Effective Date, TESARO shall, to the extent not already
delivered to ZAI, deliver to ZAI an electronic copy (either a CD-ROM or access to a secured electronic database) of all material TESARO Know-How relating the Licensed
Compound or Licensed Products in the ZAI Territory existing as of the Effective Date. If any additional material TESARO Know-How relating the Licensed Compound or Licensed Products in the ZAI Territory comes
into TESARO’s Control during the Term of this Agreement (including any Data resulting from the Development of the Licensed Compounds and Licensed Products in TESARO Territory), TESARO shall promptly notify ZAI and deliver an electronic copy
thereof to ZAI. In addition, if at any time during the Term of this Agreement, ZAI identifies particular documents, data or information that are within the TESARO Know-How, but were not previously delivered to
ZAI, including without limitation materials requested in connection with an audit or other inquiry by a Regulatory Authority relating to the Development, manufacture and/or Commercialization of the Licensed Compounds and Licensed Products, TESARO
shall use reasonable efforts to promptly provide such material to ZAI upon request. 
 4.2 Materials. As soon as practicable
after the Effective Date but in no event later than the applicable deadline set forth in Exhibit C, TESARO shall provide to ZAI [*] the quantities of Licensed Compounds, Licensed Products and other materials as listed in Exhibit
C to this Agreement. Exhibit C shall also set forth the cost to be paid by ZAI for the materials provided by TESARO. In connection with the supply of such Licensed Compounds, Licensed Products and materials, TESARO shall also
provide ZAI with relevant documents, including batch records, certificate of analysis and certificate of compliance. All such materials provided by TESARO hereunder shall not be used by ZAI for any purpose other than Development, manufacture or
Commercialization of the Licensed Compound and Licensed Product(s) in the ZAI Territory in accordance with this Agreement. 
 4.3
Technical Assistance. For a period of six (6) months after the Effective Date, TESARO shall provide ZAI with reasonable technical assistance to help ZAI to understand and use the TESARO
Know-How to Develop and manufacture the Licensed Compounds and Licensed Products. Such technical assistance shall include reasonable access, by teleconference or
in-person at TESARO’s facilities (subject to TESARO’s customary rules and restrictions with respect to site visits by non-TESARO personnel), to TESARO
personnel familiar with research, development and manufacture of the Licensed Compounds and Licensed Products, including CMC expertise in connection with the manufacture of the Licensed Compounds and Licensed Products. 

  
 13. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 4.4 Costs. [*]. 

5. DEVELOPMENT 
 5.1
General. ZAI shall be solely responsible for the Development of the Licensed Products in the Field throughout the Territory, at its own cost and expense. ZAI shall use Commercially Reasonable Efforts to Develop the Licensed Products to
obtain Regulatory Approval in the ZAI Territory, including but not limited to, using Commercially Reasonable Efforts to carry out Development (including regulatory activities as set forth in Section 5.5) of the Licensed
Products in accordance with the Development Plan and in compliance with Applicable Law, including GCP. 
 5.2 Development Plan.
The Development of the Licensed Product(s) in the ZAI Territory shall be conducted by ZAI pursuant to a Development plan that will include a description of the Development activities to be performed in support of the Regulatory Approval of the
Licensed Product(s) in the ZAI Territory, including projected timelines for completion of such activities (the “Development Plan”). The initial Development Plan agreed to by the Parties is attached hereto as Exhibit D.
Any material changes to the Development Plan shall be drafted by ZAI and shared with TESARO, including the addition of any clinical trial protocols or any material changes thereto, and shall require the approval of TESARO (such approval not to be
unreasonably withheld). In the event of any proposed change to the Development Plan as a result of any interaction with any Regulatory Authority, the JSC shall meet as promptly as practicable to review and discuss any such proposed changes and
determine an appropriate revision (if any) to the Development Plan. 
 5.3 Development Records and Reporting. 

(a) Records. ZAI shall maintain complete and accurate records of all work conducted by or on behalf of ZAI in furtherance of the
Development of Licensed Product(s) and all material results, Data and developments made in conducting such activities. Such records shall be maintained in sufficient detail and in good scientific manner appropriate for patent and regulatory purposes
and in accordance with Applicable Law. 
 (b) Reporting. ZAI will provide to TESARO, a written report at least once each calendar
quarter, in English, describing in reasonable detail ZAI’s activities and progress related to the Development of the Licensed Products in the ZAI Territory pursuant to the Development Plan. ZAI shall promptly respond to TESARO’s reasonable
questions or requests for additional information relating to such Development activities. 

  
 14. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 5.4 Data Sharing and Use. 

(a) Data Sharing. In addition to the adverse event and safety report reporting obligations under Section 5.7
below, each Party shall promptly provide the other Party with copies of all material Data and results generated from its (including its Affiliates’, licensees’ and sublicensees’) Development of the Licensed Compounds and Licensed
Products in its Territory to the extent necessary for the Development of the Licensed Compounds and Licensed Products in the other Party’s Territory. 

(b) Use by ZAI. ZAI shall have the right to use and reference any material Data (including related Regulatory Materials) generated from
the Development of the Licensed Compounds and Licensed Products in the TESARO Territory (which shall be automatically included in TESARO IP) in support of obtaining Regulatory Approvals for the Licensed Product(s) in the ZAI Territory. ZAI may use
and reference all such material Data to Develop, manufacture and Commercialize the Licensed Compounds and Licensed Products in the ZAI Territory, without additional payment or compensation to TESARO. 

(c) Use by TESARO. ZAI shall, as part of the license to TESARO under ZAI Inventions pursuant to
Section 10.1(b), provide the right for TESARO to use and reference the material Data generated from the Development of the Licensed Compounds and Licensed Products in the ZAI Territory in support of obtaining Regulatory
Approvals for the Licensed Product(s) in the TESARO Territory. 
 5.5 Regulatory Activities. ZAI shall apply for (and
maintain), at ZAI’s cost and expense, all Regulatory Approvals of Licensed Products in the ZAI Territory. ZAI shall be responsible for the preparation of all Regulatory Materials and all communications and interactions with Regulatory
Authorities with respect to the Licensed Products in the ZAI Territory, both prior to and subsequent to Regulatory Approval. ZAI shall file all required regulatory dossiers to obtain (and maintain) Regulatory Approvals of the Licensed Products in
the ZAI Territory, and will be the holder of such Regulatory Approvals. 
 5.6 Regulatory Materials and Meetings. ZAI shall
promptly provide TESARO with an electronic copy of all Regulatory Materials and correspondence with Regulatory Authorities by ZAI with respect to the Development of the Licensed Products in the ZAI Territory. During the time period that ZAI is
conducting the Development Plan, to the extent legally permissible and practicable, ZAI shall provide TESARO prior notice with respect to all meetings, conferences and discussions with Regulatory Authorities (including advisory committee meetings
and any other meeting of experts convened by a Regulatory Authority) regarding the Licensed Product(s), provided however, ZAI is not obligated to provide TESARO prior notice for meetings, conferences or discussions with Regulatory Authorities that
are informal or not previously scheduled. ZAI shall provide such notice within five (5) Business Days after ZAI receives notice of the scheduling of such meeting, conference, or discussion. TESARO shall be entitled to be present at (but not to
participate in, unless requested by ZAI or the Regulatory Authority) all such meetings, conferences or discussions with Regulatory Authorities to the extent permitted under Applicable Laws, provided, however, in the event that, in ZAI’s
reasonable judgment, TESARO’s presence in any such meeting, conference or discussion will negatively affect the outcome of such meeting, conference or discussion, TESARO shall defer to ZAI’s reasonable judgment. 

  
 15. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 5.7 Pharmacovigilance. Within ninety (90) days after the Effective Date, the
Parties shall define and finalize the actions that the Parties shall employ with respect to the Licensed Compounds and Licensed Products to protect patients and promote their well-being in a written pharmacovigilance agreement (the
“Pharmacovigilance Agreement”). These responsibilities shall include mutually acceptable guidelines and procedures for the receipt, investigation, recordation, communication, and exchange (as between the Parties) of adverse event
reports, pregnancy reports, and any other information concerning the safety of any Licensed Product. Such guidelines and procedures shall be in accordance with, and enable the Parties to fulfill, local and national regulatory reporting obligations
under Applicable Laws. Furthermore, such agreed procedure shall be consistent with relevant ICH guidelines, except where said guidelines may conflict with existing local regulatory reporting safety reporting requirements, in which case local
reporting requirement shall prevail. Each Party shall be responsible for reporting quality complaints, adverse events and safety data related to a Licensed Product to applicable Regulatory Authorities in its Territory, as well as responding to
safety issues and to all requests of Regulatory Authorities relating to a Licensed Product in its Territory. The Pharmacovigilance Agreement shall also provide for a worldwide safety database to be maintained by TESARO at its cost. Each Party hereby
agrees to comply with its respective obligations under such Pharmacovigilance Agreement and to cause its Affiliates and permitted sublicensees to comply with such obligations. 

5.8 Remedial Actions. Each Party will notify the other Parties immediately, and promptly confirm such notice in writing, if it
obtains information indicating that any Licensed Product may be subject to any recall, corrective action or other regulatory action with respect to such product taken by virtue of Applicable Law (a “Remedial Action”). The Parties
will assist each other in gathering and evaluating such information as is necessary to determine the necessity of conducting a Remedial Action. Each Party shall, and shall ensure that its Affiliates and sublicensees will, maintain adequate records
to permit the Parties to trace the manufacture, distribution and use (to the extent possible) of the Licensed Products. As between the Parties, ZAI shall have sole discretion with respect to any matters relating to any Remedial Action for the
Licensed Product in the ZAI Territory and TESARO shall have sole discretion with respect to any matters relating to any Remedial Action for the Licensed Product in the TESARO Territory. In the event that a Party determines that any Remedial Action
with respect to the Licensed Product in its Territory should be commenced, or if Remedial Action is required by any Regulatory Authority having jurisdiction over the matter in its Territory, such Party will control and coordinate all efforts
necessary to conduct such Remedial Action and shall be responsible for all cost and expense of such Remedial Action in its territory. 

6. COMMERCIALIZATION 

6.1 General. ZAI shall have the sole right to and responsibility for the Commercialization of Licensed Products in the ZAI
Territory, including manufacturing, selling, distributing and invoicing Licensed Products and would book one hundred percent (100%) of the sales, in the ZAI Territory. ZAI shall use Commercially Reasonable Efforts to Commercialize the Licensed
Products in the ZAI Territory after Regulatory Approval has been obtained, and shall conduct its Commercialization activities with respect to the Licensed Products in accordance with Applicable Law. 

  
 16. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 6.2 Coordination of Commercialization Activities. 

(a) General. The Parties recognize that they may benefit from the coordination of certain activities in support of the
Commercialization of the Licensed Products in the ZAI Territory. As such, the Parties will coordinate such activities where appropriate and as such coordination may be mutually agreed by the Parties. ZAI shall update TESARO in writing on a quarterly
basis, through the JSC, of the expected timing of the commercial launch and First Commercial Sale of each Licensed Product in the ZAI Territory. 

(b) Pricing. Each Party shall have the right to determine the price of the Licensed Product sold in its Territory and no Party shall
have the right to direct, control or approve the pricing of the Licensed Product in the other Party’s Territory. 
 (c) Global
Brand Elements. The Parties, through their respective Alliance Managers, may endeavor to develop and adopt the key distinctive colors, logos, images, symbols, and trademarks to be used in both Territories in connection with the Commercialization of
the Licensed Products. Each Party shall own the rights in such global brand elements in its Territory and shall Commercialize the Licensed Products in its Territory in a manner consistent with the applicable global brand elements. 

(d) Market Research and Materials. At each regularly scheduled JSC meeting, each Party shall update the other Party regarding the
material market research that it is performing with respect to the Licensed Products, and shall provide the other Party with a copy of such research upon request if such material market research is necessary for the other Party to commercialize the
Licensed Products in its Territory. The Parties shall also share copies of all marketing and promotional materials with respect to the Commercialization of the Licensed Products with each other. 

6.3 Diversion. Each Party hereby covenants and agrees that it and its Affiliates shall not, and it shall contractually obligate
(and use Commercially Reasonable Efforts to enforce such contractual obligation) its licensees and sublicensees not to, directly or indirectly, actively promote, market, distribute, import, sell or have sold any Licensed Product, including via the
Internet or mail order, to any Third Party or to any address or Internet Protocol address or the like in the other Party’s Territory. Neither Party shall engage, nor permit its Affiliates and sublicensees to engage, in any advertising or
promotional activities relating to any Licensed Product for use directed primarily to customers or other buyers or users of such product located in any country or jurisdiction in the other Party’s Territory, or solicit orders from any
prospective purchaser located in any country or jurisdiction in the other Party’s Territory. If a Party or its Affiliates or sublicensees receives any order for a Licensed Product for use from a prospective purchaser located in a country or
jurisdiction in the other Party’s Territory, such Party shall immediately refer that order to such other Party and shall not accept any such orders. Neither Party shall deliver or tender (or cause to be delivered or tendered), nor permit its
Affiliates and sublicensees to, deliver or tender (or cause to be delivered or tendered) any Licensed Product for use in the other Party’s Territory. 

  
 17. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 6.4 Trademark. Subject to Section 6.2(c), ZAI shall have the right to brand
the Licensed Products in the ZAI Territory using ZAI related trademarks and any other trademarks and trade names it determines appropriate for the Licensed Products, which may vary by country or within a country. ZAI shall own all rights in such
trademarks and register and maintain such trademarks in the countries and regions within the ZAI territory, where it determines appropriate. 

7. MANUFACTURE AND SUPPLY 

7.1 Product Manufacture and Supply. Except for the initial supply set forth in Section 4.2 above, ZAI
shall be solely responsible for, either by itself or through its Affiliates or Third Party contact manufactures, the manufacture and supply of all necessary clinical and commercial supply of the Licensed Compounds and Licensed Products, in
conformance with the applicable specifications thereof and all Applicable Laws, for both Development and Commercialization of the Licensed Compounds and Licensed Products in the ZAI Territory. To the extent necessary for the Development of the
Licensed Compounds and Licensed Products in the ZAI Territory in accordance with this Agreement, ZAI shall obtain all other clinical supplies, and acknowledges and agrees that (a) such clinical supplies shall be manufactured and supplied in
accordance with the Good Manufacturing Practice for Drugs

 promulgated by CFDA, and (b) ZAI shall be responsible for labeling of such supplies and distribution to clinical sites. Notwithstanding the foregoing, ZAI shall not use any contract manufacturer or materials
supplier listed on Schedule 7.1, for the purposes of manufacturing Licensed Compounds or Licensed Products, without the prior written consent of TESARO. 

7.2 Manufacturing Technology Transfer. Without limiting Article 4, upon ZAI’s reasonable request, TESARO shall
transfer to ZAI or its designated Third Party contract manufacturer all material TESARO Know-How necessary to manufacture the Licensed Compound and Licensed Product. In connection with such technology
transfer, TESARO shall provide reasonable technical assistance, at ZAI’s cost, to enable ZAI or its designated Third Party contract manufacturer to manufacture the Licensed Compound and Licensed Product. 

7.3 Supply by TESARO. At any time during the Term, upon ZAI’s written request, TESARO and ZAI may negotiate in good faith
terms and conditions of a separate supply agreement, pursuant to which TESARO would manufacture and supply Licensed Compound and/or Licensed Product to ZAI; provided, neither party is obligated to enter into any such supply agreement.
Notwithstanding the foregoing, in the event ZAI is required by the CFDA to Commercialize the Licensed Product as an imported product, and the Parties have not entered into the supply agreement referred to above, then (a) TESARO will use
Commercially Reasonable Efforts to manufacture and supply the Licensed Compound and/or Licensed Product to ZAI for such Commercialization purposes pursuant to the terms of a supply agreement to be negotiated in good faith between the parties, which
terms shall include [*]. 

  
 18. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 8. FINANCIAL TERMS 

8.1 License Fee Consideration. 

(a) Upfront Payment. As partial consideration to TESARO for the rights and licenses granted to ZAI hereunder, ZAI shall pay to
TESARO fifteen million Dollars ($15,000,000) non-refundable, non-creditable upfront payment, due thirty (30) business days after the Effective Date. 

(b) Right of First Refusal. As partial consideration to TESARO for the rights and licenses granted to ZAI hereunder, ZAI hereby
grants TESARO the right to enter into a license described in this Section 8.1(b) with respect to each of the first two Immuno-oncology assets [*] (each, an “Immuno-Oncology Asset”) developed by ZAI during the Term. If, at any
time during the Term, ZAI develops and intends to advance any such Immuno-Oncology Asset into human clinical trials in the ZAI Territory, then at least six months prior to the initiation of any human clinical trial of such Immuno-Oncology Asset in
the ZAI Territory, ZAI will notify TESARO in writing of such intent and provide TESARO with a confidential written summary of the Immuno-Oncology Asset, including all material clinical, pre-clinical and other
relevant data that TESARO may reasonably request which would be necessary for TESARO to determine whether to exercise its right to license such Immuno-Oncology Asset under this Section 8.1(b) (a “Transaction Notice”), which
Transaction Notice shall be deemed to be Confidential Information of ZAI under this Agreement. TESARO will notify ZAI within [*] of its receipt of the Transaction Notice whether TESARO would like to exercise its right under this Section 8.1(b)
to obtain an exclusive, worldwide (excluding China), sub-licensable, royalty- bearing license to research, develop, manufacture and commercialize the applicable Immuno- Oncology Asset for all uses (an
“Option Notice”). For a period of [*] following ZAI’s receipt of an Option Notice, TESARO and ZAI will negotiate in good faith commercially reasonable terms for the foregoing license of the applicable Immuno-Oncology Asset to
TESARO. If TESARO does not deliver an Option Notice to ZAI within the applicable [*] period, or declines in writing its option to take a license to the applicable Immuno-Oncology Asset after review of the Transaction Notice, then TESARO shall be
deemed to have waived its rights under this Section 8.1(b) solely with respect to the applicable Immuno-Oncology Asset, and ZAI will be free to enter into a license for such Immuno-Oncology Asset with any Third Party thereafter. If TESARO
exercises its option by providing the Option Notice with respect to the applicable Immuno-Oncology Asset, but TESARO and ZAI do not mutually agree on the terms of a license to TESARO within the [*] negotiation period described above, ZAI may not
enter into any license transaction for such Immuno-Oncology Asset outside of the ZAI Territory with any Third Party for a period of [*] following the end of such [*] negotiation period (the “Restricted Period”). After the end of the
Restricted Period, ZAI is permitted to negotiate a license for the applicable Immuno-Oncology Asset with a Third Party; provided, however, that ZAI may not enter into a license for the applicable Immuno-Oncology Asset with a Third Party on
financial terms that are materially less favorable, in the aggregate, to ZAI than those offered by TESARO (collectively, the “Third Party Terms”). [*] For the sake of clarity, nothing in this Section 8.1(b) shall be deemed to
restrict ZAI’s ability to grant of a license to a service provider or to a Third Party distributor selling finished Immuno-Oncology Product purchased from ZAI. 

  
 19. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 8.2 Milestone Payments. 

(a) Development Milestone. ZAI shall pay to TESARO the following one-time milestone
payments within [*] following the first achievement of the corresponding milestone events set forth below by ZAI, its Affiliates or sublicensees for any Licensed Compound or Licensed Product. For purposes of clarity, the milestone payment set forth
below shall be payable only upon the first achievement of such milestone, and shall not be payable more than once, regardless of whether more than one Licensed Compound or Licensed Product achieves such milestone. 

 

					
	 Development Milestone Event
	  	Milestone Payment	 
	 [*]
	  	$	[	*] 

 Notwithstanding the foregoing, if ZAI’s Development activities cause TESARO to owe Merck a milestone payment under the
“Development Milestone” section of Section 7.02 of the Merck Agreement and TESARO has not received from ZAI a corresponding milestone payment under this Section 8.2(a), then ZAI shall pay to TESARO, in accordance with the
terms of this Agreement the amount of the milestone payment owed by TESARO to Merck. 
 (b) Sales-Based Milestones. ZAI shall
pay to TESARO the following one time milestone payments upon reaching the following specific Net Sales milestones for the Licensed Product(s) within [*] following the end of the Calendar Year during which the Net Sales milestone set forth below is
first reached: 
  

											
	 Annual Net Sale of all Licensed Products in the
Territory
	  	 	 	  	Milestone Payments	 
	 Equal or exceed
	  	$[*]	  				  	$	[	*] 
	 Equal or exceed
	  	$[*]	  				  	$	[	*] 
	 Equal or exceed
	  	$[*]	  				  	$	[	*] 

 8.3 Royalties. 

(a) Generally. Subject to the remainder of this Section 8.3, ZAI shall pay to TESARO a running royalty
on Net Sales of each Licensed Product sold by ZAI, its Affiliates and Sublicensees in the Field in the ZAI Territory, as calculated by multiplying the applicable royalty rate set forth below by the corresponding amount of incremental, aggregated
annual Net Sales of the Licensed Product sold in the Territory in the applicable Calendar Year: 
  

									
	 Portion of Annual Net Sales of the Licensed Product in the
Territory
	 	  	Royalty Rate
	 Less than or equal to
	  	$[*]	  				  	[*]%
	 Greater than

but less than or equal to
	  	$[*]
 $[*]
	  				  	[*]%
	 Greater than
	  	$[*]	  				  	[*]%

  
 20. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b) Royalty Term. Subject to subsection (d) below, royalties shall be payable
on a country-by-country and Licensed Product-by-Licensed Product basis from the First
Commercial Sale of a Licensed Product in a country until the last to occur of: (i) expiration of the last to expire TESARO Patents that contains a Valid Claim Covering such Licensed Product in such country or administrative region;
(ii) expiration of any market or data exclusivity for the sale of such Licensed Product in such country or administrative region; or (iii) ten (10) years from the First Commercial Sale of such Licensed Product in such country or
administrative region (the “Royalty Term”). 
 (c) Royalty Reductions. 

(i) If a Licensed Product is generating Net Sales in a country or administrative region during the Royalty Term in such country at a
time when there is no TESARO Patent that contains a Valid Claim Covering the composition of matter of such Licensed Product in such country or administrative region, then the royalty rate for such Licensed Product in such country or administrative
region shall be reduced by [*]. 
 (ii) If it is necessary for ZAI to obtain a license from a Third Party under any Patents in order
to manufacture, import or sell the Licensed Product in a country or administrative region in the ZAI Territory and ZAI obtains such a license, then ZAI shall have the right to deduct, from the royalty payment that would otherwise have been due
pursuant to this Section 8.3 with respect to Net Sales of such Licensed Product in such country or administrative region, an amount equal to [*] of the amount paid by ZAI to such Third Party pursuant to such patent license
on account of the sale of such Licensed Product in such country during such Calendar Quarter; provided however, that in no event shall the royalties paid to TESARO with respect to such Net Sales by operation of this Section 8.3(c)(ii) be
reduced to less than [*] of the amount that would otherwise due with respect to such Net Sales. 
 (d) Minimum Royalties.
Notwithstanding the foregoing, the royalties due from ZAI to TESARO under this Agreement with respect to the Net Sales of the Licensed Product in the Territory in a particular Calendar Quarter shall be no less than the royalties owed by TESARO to
Upstream Licensors under the Upstream Agreements with respect to such Net Sales plus [*] of such Net Sales. 
 (e) Upstream
Royalties. TESARO shall be solely responsible for the payment of royalties and other payments owed by TESARO to Upstream Licensors and any other Third Parties on account of the Development and Commercialization of the Licensed Product by ZAI in
the Territory. 
 (f) Royalty Conditions. The royalties under Section 8.3 shall be subject to the
following conditions: 
 (i) only one (1) royalty shall be due with respect to each unit of Licensed Product, without regard to
whether there is more than one Valid Claim Covering such Licensed Product; 

  
 21. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (ii) no royalties shall be due upon the sale or other transfer of the Licensed Products
among ZAI, its Affiliates and sublicensees, but in such cases the royalty shall be due and calculated upon ZAI’s or its Affiliate’s or sublicensee’s Net Sales of Licensed Product to the first independent Third Party; and 

(iii) no royalties shall accrue on the disposition of Licensed Product in reasonable quantities by ZAI, its Affiliates or sublicensees
as part of an expanded access program, for use in clinical trials, as free samples, or as donations to non-profit institutions or government agencies for non-commercial
purposes, provided, in each case, that neither ZAI, its Affiliate nor sublicensees receive any payment (in excess of its actual costs) for such Licensed Product. 

8.4 Manner of Payment. All payments to be made by ZAI hereunder shall be made in U.S. Dollars by wire transfer of immediately
available funds to such bank account as shall be designated by TESARO. Except as otherwise provided in this Agreement, all payments to be made by ZAI under this Agreement shall be due within [*] of the date of invoice. Late payments shall bear
interest at the rate provided in Section 8.10. 
 8.5 Sales Reports and Royalty Payments. Any royalty
payments due under this Agreement will be calculated and reported for each Calendar Quarter, and will be paid within [*] of the end of each Calendar Quarter in which the applicable Net Sales were recorded. Each royalty payment will be accompanied by
a report stating on a Licensed Product- by-Licensed Product: (a) Net Sales of the Licensed Product in the applicable Calendar Quarter, (b) a calculation of the amount of the royalty payment due on
such Net Sales during the applicable Calendar Quarter, and (c) the amount of withholding taxes, if any, required by Applicable Law to be deducted with respect to such royalties. 

8.6 Financial Records. ZAI will maintain records as are required to determine, in accordance with this Agreement, Net Sales and
royalties due under this Agreement. ZAI will maintain such records until the later of (a) three (3) years after the end of the period to which such records pertain, (b) the expiration of the applicable tax statute of limitations (or any
extensions thereof), or (c) such longer period as may be required by Applicable Law. 
 8.7 Financial Audit. On thirty
(30) days prior written notice, TESARO will have the right to have an independent certified public accountant inspect the financial records of ZAI and its Affiliates and their Sublicensees relating to the sale of the Licensed Products in the
ZAI Territory, no more than once per Calendar Year, during usual business hours, at a time and a place mutually agreed to, for the sole purpose of verifying the completeness and accuracy of Net Sales and royalties due under this Agreement for the
period of time three (3) years preceding the date of the notice. The notice must identify the period of time subject to inspection. Records from a period of time already subject to an inspection pursuant to this
Section 8.7 may not be inspected again. Such accountant must have agreed in writing to maintain the confidentiality of all information learned in confidence, except as necessary to disclose any discrepancy to TESARO. TESARO
shall pay for such inspections, unless such inspection and audit discloses for the period examined that there is an underpayment to TESARO of greater than [*] of the amounts actually due in any given year, in which case ZAI will be responsible for
the payment of the reasonable cost of such inspection and audit. TESARO and its independent accounting firm agree that all information concerning such payments and reports will be Confidential Information of ZAI as provided for in this Agreement.
ZAI will pay to TESARO within sixty (60) days any underpayment identified pursuant to this Section 8.7. 

  
 22. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 8.8 Currency Exchange. With respect to Net Sales invoiced in a currency other than
Dollars, the Net Sales shall be expressed in the domestic currency of the entity making the sale, together with the Dollar equivalent (as applicable), calculated using the rate of exchange to be used in computing the amount of currency equivalent in
Dollars by ZAI for its own financial reporting purposes in connection with its other products. 
 8.9 Taxes. (a) In the
event that Applicable Law requires ZAI to deduct or withhold taxes with respect to any payment to be made by ZAI pursuant to this Agreement, ZAI will notify TESARO of such requirement prior to making the payment to TESARO and provide such assistance
to TESARO, including the provision of such documentation as may be required by a tax authority, as may be reasonably necessary in TESARO’s efforts to claim an exemption from or reduction of such taxes. ZAI will, in accordance with Applicable
Law, deduct or withhold taxes from the amount due, remit such taxes to the appropriate tax authority when due, and furnish TESARO with proof of payment of such taxes within thirty (30) days following the payment. If taxes are paid to a tax
authority, ZAI shall provide reasonable assistance to TESARO to obtain a refund of taxes withheld, or obtain a credit with respect to taxes paid. To the extent such amounts are paid to the appropriate tax authority, such amounts shall be treated for
all purposes of this Agreement as having been paid to TESARO. 
 (b) All payments due to TESARO from ZAI pursuant to this Agreement
shall be paid net of any value-added tax or other tax (“VAT”) required to be paid by ZAI to tax authorities in the Territory (which, if applicable, shall be payable by ZAI upon receipt of a valid VAT invoice); provided, that ZAI
shall use commercially reasonable efforts to assist TESARO to minimize and obtain all available exemptions from such VAT or other taxes. If ZAI is required to withhold and/or TESARO is required to report any such tax, ZAI shall promptly provide
TESARO with applicable receipts evidencing payment of such tax and other documentation reasonably requested by TESARO. 
 8.10
Interest on Late Payment. Interest shall be payable on any payments that are not paid on or before the date thirty (30) days after the date such payments are due under this Agreement at the
per-annum rate of prime (as reported in The Wall Street Journal (U.S., Eastern Edition)) plus two percentage points or the maximum rate allowable by applicable Law, whichever is less. 

9. REPRESENTATIONS AND WARRANTIES; COVENANTS 

9.1 Mutual Representations and Warranties. Each Party represents and warrants to the other Party that: 

(a) It is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated; 

(b) It has all requisite corporate power and authority to enter into this Agreement and to perform its obligations under this
Agreement; 

  
 23. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) The execution of this Agreement and the performance by such Party of its obligations
hereunder have been duly authorized; 
 (d) This Agreement is legally binding and enforceable on such Party in accordance with its
terms; and 
 (e) The performance of this Agreement by it does not create a material breach or material default under any other
agreement to which it is a Party. 
 9.2 Representations and Warranties of TESARO. TESARO represents and warrants that as of
the Effective Date: 
 (a) TESARO is the sole owner or exclusive licensee of the TESARO IP, free and clear of all liens, and has the
right to grant to ZAI the rights and licenses as purported to be granted hereunder; 
 (b) there is no pending or, to its knowledge,
threatened, litigation or arbitration which alleges, or any written communication alleging, that TESARO’s activities with respect to the TESARO IP or the Licensed Compounds have infringed or misappropriated any of the intellectual property
rights of any Third Party; 
 (c) there is no pending or, to its knowledge, threatened re-
examination, opposition, interference or litigation, or any written communication alleging that any TESARO Patent is invalid or unenforceable anywhere in the world; 

(d) subject to the terms and conditions of the Upstream Agreements, to its knowledge, the manufacture, Development or Commercialization
of the Licensed Compounds and Licensed Products does not and will not infringe with any Patent rights of any Third Party in the ZAI Territory; 

(e) it is not aware of any infringement or misappropriation of any TESARO IP by any Third Party; 

(f) it (and, to its knowledge, any Third Party acting under its authority) has complied in all material respects with all Applicable
Laws in connection with its development of the Licensed Compounds (including information and data provided to Regulatory Authorities), and has not used any employee, consultant or contractor who has been debarred by any Regulatory Authority, or to
its knowledge, is the subject of a debarment proceeding by any Regulatory Authority; 
 (g) it has not granted any rights in the
TESARO IP that are inconsistent with the rights granted to ZAI under this Agreement; 
 (h) other than the Patents set forth in
Exhibit B, TESARO does not Control any Patent that is reasonably necessary for the Development, manufacture or Commercialization of the Licensed Compound or Licensed Product or that Covers (i) the composition of matter of the
Licensed Compound or Licensed Product, or (ii) a method of 

  
 24. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
manufacture or use of the Licensed Compound or Licensed Product. If TESARO identifies any Patent that it Controls after the Effective Date which is reasonably necessary for the Development,
manufacture or Commercialization of the Licensed Compound or Licensed Product in the ZAI Territory or that Covers (A) the composition of matter of the Licensed Compound or Licensed Product, or (B) a method of manufacture or use of the
Licensed Compound or Licensed Product, then such Patent shall automatically be added to the list of TESARO Patents; 
 (i) the
Licensed Compounds and Licensed Products provided by TESARO as part of the technology transfer under Section 4.2 have been manufactured, handled and stored in accordance with all Applicable Laws, including the current Good Manufacturing
Practice set forth in 21 C.F.R. Parts 11, 210 and 211; and 
 (j) TESARO has disclosed to ZAI and made available to ZAI for review,
to the extent in TESARO’s possession and control, all material non-clinical and clinical data for the Licensed Compound and Licensed Product, and all other material information (including relevant
correspondence with Regulatory Authorities) relating to the Licensed Compound and Licensed Product, in each case that would be material to TESARO to assess the safety and efficacy of the Licensed Compound and Licensed Product. 

9.3 Upstream Agreements. TESARO represents, warrants and covenants (as applicable) to ZAI that: 

(a) as of the Effective Date, except for the Upstream Agreements, there is no agreement between TESARO or its Affiliates with any Third
Party pursuant to which TESARO or its Affiliates has in-licensed any TESARO IP; 
 (b) as of
the Effective Date, it has provided ZAI with a true and complete copy of each Upstream Agreement, and each Upstream Agreement is in full force and effect, and the (sub)licenses it obtained under the AZ Agreements encompass the right to make, use and
sell the Licensed Compound and Licensed Product in the Field in the ZAI Territory in accordance with the terms of the AZ Agreements, and during the Term, TESARO shall not modify or terminate either of the AZ Agreements in a manner that would
diminish the right of ZAI under this Agreement to make, use and sell the Licensed Compound and Licensed Product in the Field in the ZAI Territory; 

(c) as of the Effective Date, no written notice of default or termination has been received or given under any Upstream Agreement, and
to its knowledge, there is no act or omission by TESARO that would provide a right to terminate any Upstream Agreement; 
 (d) during
the Term of this Agreement, it shall maintain each Upstream Agreement in full force and effect and shall not terminate, amend, waive or otherwise modify (or consent to any of the foregoing) its rights under any Upstream Agreement in any manner that
materially diminishes the rights or licenses granted to ZAI hereunder or increase or generate any new payment obligation under any Upstream Agreement that would apply to ZAI (such as any milestone payment under Section 7.02 of the Merck
Agreement that would apply to ZAI’s Development activities), without ZAI’s express written consent; and 

  
 25. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (e) in the event of any notice of breach of any Upstream Agreement by TESARO, TESARO
shall promptly notify ZAI in writing, and if TESARO fails to cure such breach, ZAI shall have the right, but not the obligation, to cure such breach on behalf of TESARO and to offset any reasonable amounts incurred or paid by ZAI in connection with
the cure of such breach against any amounts otherwise payable by to TESARO under this Agreement. In the event of any notice of breach of any Upstream Agreement by the applicable Upstream Licensor in a manner that will or is likely to materially
adversely affect ZAI’s rights or obligations under this Agreement, TESARO shall immediately notify ZAI in writing, and TESARO shall take such actions as reasonably requested by ZAI to enforce such Upstream Agreement. 

9.4 ZAI Compliance with Upstream Agreements. ZAI acknowledges and agrees that the rights and licenses granted by TESARO to ZAI
under this Agreement are subject to the terms of the Upstream Agreements. ZAI agrees to take any action (or omission, to the extent applicable to ZAI) reasonably requested by TESARO that is necessary or advisable to maintain compliance with the
terms and conditions of the Upstream Agreements. 
 9.5 Anti-Corruption. 

(a) In performing their respective obligations hereunder, the Parties acknowledge that the corporate policies of TESARO and ZAI and
their respective Affiliates require that each Party’s business be conducted within the letter and spirit of the law. By signing this Agreement, each Party agrees to conduct the business contemplated herein in a manner which is consistent with
all Applicable Law, including the U.S. Foreign Corrupt Practices Act, good business ethics, and its ethics and other corporate policies, and to abide by the spirit of the other Party’s applicable ethics and compliance guidelines which may be
provided by such other Party from time to time. Specifically, each Party agrees that it has not, and covenants that it, its Affiliates, and its and its Affiliates’ directors, employees, officers, and anyone acting on its behalf, will not, in
connection with the performance of this Agreement, directly or indirectly, make, promise, authorize, ratify or offer to make, or take any action in furtherance of, any payment or transfer of anything of value for the purpose or intent of
influencing, inducing or rewarding any act, omission or decision to secure an improper advantage; or improperly assisting it in obtaining or retaining business for it or the other Party, or in any way with the purpose or effect of public or
commercial bribery. 
 (b) Each Party shall not contact, or otherwise knowingly meet with, any Government Official for the purpose of
discussing activities arising out of or in connection with this Agreement, without the prior written approval of the other Party, except where such meeting is consistent with the purpose and terms of this Agreement and in compliance with Applicable
Law, it being agreed and acknowledged that ZAI has the right under this Agreement to meet with any Government Official with respect to the lawful conduct of any clinical study for the Licensed Product. 

  
 26. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 9.6 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY
MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO ANY PATENTS, CONFIDENTIAL INFORMATION OR KNOW-HOW OF SUCH PARTY OR ANY LICENSE GRANTED BY SUCH PARTY HEREUNDER, OR WITH RESPECT TO ANY COMPOUNDS, INCLUDING BUT NOT LIMITED TO THE TRANSFERRED MATERIALS. FURTHERMORE, EXCEPT AS EXPRESSLY SET FORTH IN THIS
AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES THAT ANY PATENT, PATENT APPLICATION, OR OTHER PROPRIETARY RIGHTS INCLUDED IN PATENTS, CONFIDENTIAL INFORMATION OR KNOW-HOW LICENSED BY SUCH
PARTY TO THE OTHER PARTY HEREUNDER ARE VALID OR ENFORCEABLE OR THAT USE OF SUCH PATENTS, CONFIDENTIAL INFORMATION OR KNOW-HOW CONTEMPLATED HEREUNDER DOES NOT INFRINGE ANY PATENTS OR OTHER INTELLECTUAL PROPERTY
RIGHTS OF ANY THIRD PARTY. 
 9.7 Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER
PARTY SHALL BE LIABLE TO THE OTHER WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT, WHETHER UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY, FOR ANY INCIDENTAL, INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE,
MULTIPLE, OR CONSEQUENTIAL DAMAGES PROVIDED, HOWEVER, THAT THE FOREGOING SHALL NOT APPLY TO OR LIMIT (I) DAMAGES AVAILABLE FOR ANY BREACH BY EITHER PARTY OF THE CONFIDENTIALITY OBLIGATIONS SET FORTH IN ARTICLE 11; (B) A
PARTY’S INDEMNIFICATION OBLIGATIONS SET FORTH IN ARTICLE 12. 
 10. INTELLECTUAL PROPERTY 

10.1 Inventions. 

(a) Ownership of Inventions. The inventorship of all Inventions shall be determined under the U.S. patent laws. Each Party shall
solely own its Sole Inventions and the Parties shall jointly own all Joint Inventions. All Patents Covering patentable Joint Inventions shall be referred to herein as “Joint Patents.” Except to the extent restricted by the licenses
granted to other Party under this Agreement or any other agreement between the Parties, each joint owner shall be entitled to practice, license, assign and otherwise exploit the Joint Inventions and Joint Patents without the duty of accounting or
seeking consent from the other owners 
 (b) License of Inventions. TESARO’s Sole Inventions and TESARO’s right and
interest in and to any Joint Inventions shall be included in TESARO IP and automatically licensed to ZAI under this Agreement. Further, ZAI hereby grants to TESARO an exclusive, perpetual and freely sublicensable license under ZAI’s Sole
Inventions and ZAI’s right and interest in and to any Joint Inventions, including the Data generated by ZAI from the Development of the Licensed Compounds and Licensed Products in the ZAI Territory, for use by TESARO to Develop, manufacture and
Commercialize the Licensed Compounds and Licensed Products in the TESARO Territory. 

  
 27. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) Disclosure of Inventions. Each Party shall promptly disclose to the other
Party all Sole Inventions of such Party and also Joint Invention, including any invention disclosures, or other similar documents, submitted to it by its employees, agents or independent contractors describing such Inventions, and shall promptly
respond to reasonable request from the other Parties for additional information relating to such Inventions. 
 10.2 Patent
Prosecution. 
 (a) TESARO Patents. As between the Parties, TESARO shall have the first right to file, prosecute and
maintain, at its own cost and expense, all TESARO Patents that are not Joint Patents. TESARO shall consult with ZAI and keep ZAI reasonably informed of the status of such TESARO Patents in the ZAI Territory and shall promptly provide ZAI with all
material correspondence received from any patent authority in connection therewith. In addition, TESARO shall promptly provide ZAI with drafts of all proposed material filings and correspondence to any patent authority with respect to such TESARO
Patents in the ZAI Territory for review and comment prior to the submission of such proposed filings and correspondences. TESARO shall confer with ZAI and consider in good faith ZAI’s comments prior to submitting such filings and
correspondences. TESARO shall notify ZAI of any decision to cease prosecution and/or maintenance of any such TESARO Patents in the ZAI Territory at least thirty (30) days prior to any filing deadline or payment due date. In such event, TESARO
shall permit ZAI, at its discretion and at its sole expense, to continue prosecution or maintenance of such TESARO Patent. 
 (b)
Joint Patents. Each Party shall have the first right to file, prosecute and maintain, at its own cost and expense, all Joint Patents in its Territory. Each Party shall consult with the other Party and keep the other Party reasonably
informed of the status of the Joint Patents in its Territory and shall promptly provide the other Party with all material correspondence received from any patent authority in connection therewith. In addition, each Party shall promptly provide the
other Party with drafts of all proposed material filings and correspondence to any patent authority with respect to the Joint Patents in its Territory for review and comment prior to the submission of such proposed filings and correspondences. Each
Party shall confer with the other Party and consider in good faith the other Party’s comments prior to submitting such filings and correspondences. Each Party shall notify the other Party of any decision to cease prosecution and/or maintenance
of any Joint Patents in its Territory at least thirty (30) days prior to any filing deadline or payment due date. In such event, such Party shall permit the other Party, at its discretion and at its sole expense, to continue prosecution or
maintenance of such Joint Patent. 
 (c) ZAI Patents. Unless otherwise agreed by the Parties in a separate license agreement
pursuant to Section 10.1(b), as between the Parties, ZAI shall have the sole right to file, prosecute and maintain, at its own cost and expense, all Patents Covering its Sole Inventions. 

  
 28. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (d) Cooperation. Each Party shall provide the other Party all reasonable
coordination, assistance and cooperation in the patent prosecution efforts under this Agreement, including providing any necessary powers of attorney and executing any other required documents or instruments for such prosecution. 

10.3 Patent Enforcement. 

(a) Notice and Enforcement by ZAI. In the event that either Party becomes aware of a suspected infringement by a Third Party of
any TESARO Patents in the Field within the ZAI Territory, or any declaratory judgment, opposition, or similar action alleging the invalidity, unenforceability or non-infringement of any of TESARO Patents in
the ZAI Territory (collectively, “Infringement”), such Party shall notify the other Party promptly. ZAI shall have the first right, but not the obligation, to bring and control any legal action in connection with any Infringement of
TESARO Patents in the ZAI Territory at its own expense and as it reasonably determines appropriate. TESARO shall have the right to be represented in any such action by counsel of its choice at its own expense. 

(b) Enforcement by TESARO. If ZAI does not to bring a legal action or otherwise take reasonable measure to stop the Infringement
of TESARO Patents in ZAI Territory within ninety (90) days after the notice provided pursuant to Section 10.3(a), TESARO shall have the right to bring and control any legal action in connection with such Infringement
in the ZAI Territory at its own expense as it reasonably determines appropriate after consultation with ZAI. 
 (c)
Cooperation. At the request and expense of the Party bringing the action under Section 10.3(a) or (b) above, the other Party shall provide reasonable assistance in connection therewith, including by
executing reasonably appropriate documents, cooperating in discovery and joining as a party to the action if required. In connection with any such proceeding, the enforcing Party shall keep the other Party reasonably informed on the status of such
action and shall not enter into any settlement admitting the invalidity of, or otherwise impairing the other Party’s rights in, the relevant TESARO Patents without the prior written consent of the other Party. 

(d) Cost and Recovery. The enforcing Party under Section 10.3(a) or (b) shall be
responsible for the cost and expense incurred with the enforcement action. Any recoveries resulting from such enforcement action shall be first applied to reimburse each Party’s cost and expenses in connection therewith. Any such recoveries in
excess of such cost and expense shall be retained by the enforcing Party; provided that if ZAI is the enforcing Party, then such recovery shall be deemed Net Sales and subject to royalty payment to TESARO under Section 8.3. 

10.4 Defense of Third Party Claims. Subject to Article 12, if a claim is brought by a Third Party alleging infringement of
a Patent of such Third Party by the Development, manufacture or Commercialization of the Licensed Compounds and Licensed Products in the ZAI Territory, the Party first having notice of the claim or assertion shall promptly notify the other Parties,
the Parties shall agree on and enter into an “common interest agreement” wherein 

  
 29. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
such Parties agree to their shared, mutual interest in the outcome of such potential dispute, and thereafter, the Parties shall promptly meet to consider the claim or assertion and the
appropriate course of action. Each Party shall be entitled to represent itself in any litigation to which it is a party, at its own expense, unless otherwise agreed upon by the Parties or as otherwise set forth in this Agreement. 

10.5 Bankruptcy Protection. All licenses granted by a Party to the other Party under this Agreement are and shall otherwise be
deemed to be for purposes of Section 365(n) of Title 11, United States Code or foreign equivalent laws (the “Bankruptcy Code”) licenses of rights to “intellectual property” as defined in Section 101(56) of
the Bankruptcy Code. The Parties shall retain and may fully exercise all of their respective rights and elections under the Bankruptcy Code. Upon the bankruptcy of a Party, the non-bankrupt Party shall further
be entitled to a complete duplicate of, or complete access to, any such intellectual property, and such, if not already in its possession, shall be promptly delivered to the non-bankrupt Party, unless the
bankrupt Party elects to continue, and continues, to perform all of its obligations under this Agreement. Nothing in this Section 10.5 shall be interpreted as giving any Party greater rights to the other Party’s intellectual property after
the bankruptcy of the other Party than such Party had prior to such bankruptcy. 
 11. CONFIDENTIALITY 

11.1 Nondisclosure and Non-Use. Each Party agrees that, for so long as this Agreement is
in effect and for a period of [*] years thereafter, a Party (the “Receiving Party”) receiving or possessing Confidential Information of the other Party (the “Disclosing Party”) shall, and shall cause its employees,
representatives, Affiliates, consultants, contractors, agents and Sublicensees to, (a) maintain in confidence such Confidential Information using not less than the efforts such Receiving Party uses to maintain in confidence its own proprietary
industrial information of similar kind and value (but no less than reasonable care), (b) not disclose such Confidential Information to any Third Party without the prior written consent of the Disclosing Party, except for disclosures expressly
permitted below, and (c) not use such Confidential Information for any purpose except those permitted by this Agreement, including in connection with exercising its rights or fulfilling its obligations under this Agreement (it being understood
that this clause (c) shall not create or imply any rights or licenses not expressly granted under Article 2 hereof). Each Receiving Party shall be responsible for any breach of these obligations by any of its employees, representatives,
Affiliates, consultants, contractors, agents and Sublicensees to which it discloses or provides access to any Confidential Information of the Disclosing Party. Each Receiving Party shall take all reasonable action under Applicable Law to enforce the
confidentiality obligations hereunder against any employees, representatives, Affiliates, consultants, contractors, agents and Sublicensees to which it discloses or provides access to any Confidential Information of the Disclosing Party. 

11.2 Confidentiality of TESARO Know-How. During such time as the license to ZAI under the
TESARO Know-How granted under Section 2.1 is in effect, solely for disclosure purposes to Third Parties, the TESARO Know-How shall be deemed to
be Confidential Information of both TESARO and ZAI under Article 11, both TESARO and ZAI shall be deemed to be a Disclosing Party of the TESARO Know-How under Article 11, and TESARO and its
Affiliates shall be deemed not to have known such TESARO Know-How prior to disclosure for the purposes of Section 11.3(a). 

  
 30. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 11.3 Exceptions. The obligations in Section 11.1 shall not apply with respect
to any portion of the Confidential Information that the Receiving Party can show by competent proof: 
 (a) was known to the
Receiving Party or any of its Affiliates, without any obligation to keep it confidential or any restriction on its use, prior to disclosure by the Disclosing Party; or 

(b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the Receiving Party;

 (c) became generally available to the public or otherwise part of the public domain after its disclosure and other than through
any act or omission of the Receiving Party in breach of this Agreement; or 
 (d) is subsequently disclosed to the Receiving Party or
any of its Affiliates by a Third Party lawfully in possession thereof and without any obligation to keep it confidential or any restriction on its use; or 

(e) has been independently developed by employees or contractors of the Receiving Party or any of its Affiliates without the aid,
application or use of Confidential Information of the Disclosing Party as demonstrated by documented evidence prepared contemporaneously with such independent development. 

11.4 Authorized Disclosure. The Receiving Party may disclose Confidential Information belonging to the Disclosing Party to the
extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 (a) preparing, filing or
prosecuting Patents; preparing, filing or prosecuting Regulatory Materials with respect to obtaining and maintaining Regulatory Approval of the Licensed Products; and prosecuting or defending litigation; 

(b) subject to Section 11.7, complying with Applicable Law (including, without limitation, the rules and
regulations of any national securities exchange, regulations of the State Administration of Foreign Exchange of the People’s Republic of China, and the State Intellectual Property Office of the People’s Republic of China) and with judicial
process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance, provided that the Receiving Party shall promptly notify the other Party of such required disclosure so that the
Disclosing Party can seek a protective order or other appropriate remedies and, at the Disclosing Party’s request and expense, reasonably assist the Disclosing Party in seeking such protective order or other reasonable remedies; and 

  
 31. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) disclosure (i) in connection with the performance of this Agreement and solely
on a “need to know basis”, to Affiliates, potential or actual collaborators (including potential Sublicensees), or employees, contractors, or agents; or (ii) solely on a “need to know basis” to potential or actual investment
bankers, consultants, advisors, investors, partners, collaborators, lenders, or acquirers; each of whom in the case of clause (i) or (ii) prior to disclosure must be bound by written obligations of confidentiality and non-use no less restrictive than the obligations set forth in this Article 11. 
 11.5
Terms of this Agreement. The Parties acknowledge that the terms of this Agreement shall be treated as Confidential Information of both Parties. 

11.6 Prior CDA. This Agreement supersedes the Mutual Confidentiality and Non-Use
Agreement between the Parties dated October 12, 2015 (the “Prior CDA”) with respect to information disclosed thereunder. All information exchanged between the Parties under the Prior CDA shall be deemed Confidential Information
of the disclosing Party and shall be subject to the terms of this Article 11. 
 11.7 Securities Filings. In the event
either Party proposes to file with the Securities and Exchange Commission or the securities regulators of any state, country, province or other jurisdiction a registration statement or any other disclosure document which describes or refers to this
Agreement under the Securities Act of 1933, as amended, the Securities Exchange Act, of 1934, as amended, or any other Applicable Law, such Party shall notify the other Party of such intention and shall provide such other Party with a copy of
relevant portions of the proposed filing not less than five (5) business days prior to such filing (and any revisions to such portions of the proposed filing a reasonable time prior to the filing thereof), including any exhibits thereto
relating to this Agreement, and shall use reasonable efforts to obtain confidential treatment of any information concerning this Agreement that such other Party requests be kept confidential, and shall only disclose Confidential Information of the
Disclosing Party which it is advised by counsel is legally required to be disclosed. No such notice shall be required under this Section 11.7 if the substance of the description of or reference to this Agreement contained
in the proposed filing has been included in any previous filing made by the other Party hereunder or otherwise approved by the other Party. 

11.8 Technical Publication. No Party may publish peer reviewed manuscripts, or give other forms of public disclosure such as
abstracts and presentations, of results of studies carried out under this Agreement, without the opportunity for prior review by the other Parties, except to the extent required by Applicable Laws. A Party seeking publication of results of studies
carried out under this Agreement shall provide the other Party the opportunity to review and comment on any proposed publication which relates to the Licensed Product at least thirty (30) days prior to its intended submission for publication.
The other Party shall provide the Party seeking publication with its comments in writing, if any, within twenty (20) days after receipt of such proposed publication. The Party seeking publication shall consider in good faith any comments
thereto provided by the other Party and shall comply with the other Party’s request to remove any and all of such other Party’s Confidential Information from the proposed publication. In addition, the Party seeking publication shall delay
the submission for a period up to sixty (60) days in the event that the other Party can demonstrate reasonable need for such delay, including without limitation, the preparation and filing of a patent application. If the other Party fail to
provide its comments to the Party seeking publication within such twenty (20) day 

  
 32. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
period, such other Party shall be deemed to not have any comments, and the Party seeking publication shall be free to publish in accordance with this Section 11.8 after
the thirty (30) day period has elapsed. The Party seeking publication shall provide the other Party a copy of the manuscript at the time of the submission. Each Party agrees to acknowledge the contributions of the other Party and its employees
in all publications as scientifically appropriate. 
 11.9 Equitable Relief. Each Receiving Party acknowledges and agrees that
a breach of this Article 11 cannot reasonably or adequately be compensated in damages in an action at law and that such a breach shall cause the Disclosing Party irreparable injury and damage. By reason thereof, the Parties agree that each
Party shall be entitled, in addition to any other remedies it may have under this Agreement or otherwise, to preliminary and permanent injunctive and other equitable relief to prevent or curtail any breach of the obligations relating to Confidential
Information set forth herein. 
 12. INDEMNITY AND INSURANCE 

12.1 Indemnification by ZAI. ZAI hereby agrees to defend, hold harmless and indemnify TESARO, its Affiliates, directors,
officers, employees and agents from and against any and all Third Party claims, suites, proceedings, damages, expenses, liabilities, and/or losses, including without limitation reasonable legal expenses and attorneys’ fees (collectively
“Claims”) to the extent resulting from or arising out of: (a) the negligence, willful misconduct or breach of this Agreement by ZAI; (b) ZAI’s Development, manufacture and Commercialization of the Licensed Compounds
and Licensed Products in ZAI Territory; (c) any action or omission of ZAI that causes a breach of or results in non-compliance the Upstream Agreements, except in each case to the extent such Claims result
from or arise out of any activities set forth in Section 12.2 for which TESARO is obligated to indemnify ZAI. 

12.2 Indemnification by TESARO. TESARO hereby agrees to defend, hold harmless and indemnify ZAI, its Affiliates, directors,
officers, employees and agents from and against any and all Third Party Claims to the extent resulting from or arising out of: (a) the negligence, willful misconduct or breach of this Agreement by TESARO; (b) TESARO’s Development,
manufacture and Commercialization of the Licensed Compounds and Licensed Products in TESARO Territory; and (c) TESARO’s Development, manufacture and Commercialization of the Licensed Compounds and Licensed Products prior to the Effective
Date; except in each case to the extent such Claims result from or arise out of any activities set forth in Section 12.1 for which ZAI is obligated to indemnify TESARO. 

12.3 Indemnification Procedure. The indemnified Party shall provide the indemnifying Party with prompt notice of the claim giving
rise to the indemnification obligation pursuant to this Article 12 and the exclusive ability to defend (with the reasonable cooperation of the indemnified Party) or settle any such claim; provided, however, that the indemnifying Party
shall not enter into any settlement for damages other than monetary damages without the indemnified Party’s written consent, such consent not to be unreasonably withheld. The indemnified Party shall have the right to participate, at its own
expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the indemnifying Party. If the Parties cannot agree as to the application of Sections 12.1 and 12.2 to any particular Claim,

  
 33. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
the Parties may conduct separate defenses of such claim and reserve the right to claim indemnity from the other in accordance with Sections 12.1 and 12.2 above upon resolution of
the underlying claim, notwithstanding the provisions of this Section 12.3 requiring the indemnified Party to tender to the indemnifying Party the exclusive ability to defend such claim or suit. 

12.4 Mitigation of Loss. Each indemnified Party shall take and shall procure that its Affiliates, agents, directors, officers and
employees take all such reasonable steps and action as are reasonably necessary or as the indemnifying Party may reasonably require in order to mitigate any Claims (or potential losses or damages) under this Article 12. Nothing in this
Agreement shall or shall be deemed to relieve any Party of any common law or other duty to mitigate any losses incurred by it. 
 12.5
Insurance. Each Party shall procure and maintain insurance, including product liability insurance, adequate to cover its obligations hereunder and which are consistent with normal business practices of prudent companies similarly situated
at all times during which any Licensed Product is being clinically tested in human subjects or commercially distributed or sold by such Party. It is understood that such insurance shall not be construed to create a limit of either Party’s
liability with respect to its indemnification obligations under this Article 12. Each Party shall provide the other Party with written evidence of such insurance upon request. Each Party shall provide the other Party with written notice at
least thirty (30) days prior to the cancellation, non-renewal or material change in such insurance which materially adversely affects the rights of the other Party hereunder. 

13. TERM AND TERMINATION 

13.1 Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated in accordance with the terms
hereof or by mutual written consent, shall continue, on a country-by-country and Licensed
Product-by-Licensed Product basis, until the expiration of the Royalty Term for such Licensed Product in such country (the “Term”). After the expiration
(but not early termination) of the Term, the licenses granted by TESARO to ZAI hereunder shall become full paid, royalty free, perpetual and irrevocable. 

13.2 Termination. 

(a) Termination for convenience. At any time, ZAI may terminate this Agreement by providing written notice of termination to
TESARO, which notice includes an effective date of termination at least [*] after the date of the notice. 
 (b) Termination for
Material Breach. Each Party shall have the right to terminate this Agreement in its entirety immediately upon written notice to the other Party if the other Party materially breaches its material obligations under this Agreement and, after
receiving written notice identifying such material breach in reasonable detail, fails to cure such material breach within [*] from the date of such notice, provided that, if such other Party dispute such alleged breach in good faith, such
termination shall not become effective unless and until such dispute has been resolved in favor of the Party providing notice of such termination and such other Party has not cured such material breach within [*] after such resolution. 

  
 34. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) Termination for Insolvency. Each Party shall have the right to terminate this
Agreement in its entirety immediately upon written notice to the other Party if (i) such other Party files in any court or agency pursuant to any statute or regulation of any jurisdiction a petition in bankruptcy or insolvency or for
reorganization or similar arrangement for the benefit of creditors or for the appointment of a receiver or trustee of such other Party or its assets, (ii) such other Party is served with an involuntary petition against it in any insolvency
proceeding, and upon the [*] after such service, such involuntary petition has not been stayed or dismissed, or (iii) such other Party makes an assignment of substantially all of its assets for the benefit of its creditors. 

(d) Termination by Mutual Agreement. The Parties may also terminate this Agreement by mutual agreement. 

13.3 Effect of Termination. Upon the early termination of this Agreement pursuant to Section 13.2: 

(a) License to ZAI. All licenses and other rights granted by TESARO to ZAI shall terminate, and all rights of ZAI under the
TESARO Patents and TESARO Know- How shall revert to TESARO. 
 (b) License to TESARO. ZAI shall grant to TESARO (with the
right to grant sublicenses through multiple tiers) an exclusive license under ZAI’s Sole Inventions and ZAI’s right and interest in and to any Joint Inventions, including the Data generated by ZAI from the Development of the Licensed
Compounds and Licensed Products under this Agreement, for use by TESARO (or its sublicensees) to Develop, manufacture and Commercialize the Licensed Compounds and Licensed Products in the TESARO Territory. The terms and conditions of such a license
may include, at TESARO’s request, the transfer of Regulatory Materials, inventories, and/or ongoing clinical trials to TESARO, as well as reasonable transition assistance. The foregoing license and transfer shall be royalty-free and without
payment from TESARO other than (i) the payment by TESARO of the reasonable cost of any transition assistance (such costs to be consistent with industry custom, and (ii) if: (A) ZAI terminates this Agreement under 13.2(b), he license shall
be royalty-bearing (such royalties to be consistent with other royalty- bearing royalties for similar intellectual property rights) and otherwise on commercially reasonable terms. 

13.4 Transfer of Data and Regulatory Materials; Wind-down of Clinical Activities. Without limiting the obligations of the Parties
under Section 13.3 above, upon the effective date of the termination of this Agreement, ZAI shall transfer to TESARO, at TESARO’s business premises, all Data and Regulatory Materials related to the Licensed Compounds or Licensed Products.
Additionally, with respect to any ongoing clinical trials of Licensed Products each Party shall cooperate with the other Party to facilitate the orderly transfer to TESARO of the conduct of such clinical trials as soon as reasonably practicable,
(ii) until such time as the conduct of such clinical trials has been successfully transferred to TESARO, ZAI 

  
 35. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
shall continue such clinical trials, (iii) between the effective date of termination and the date on which the conduct of such clinical trials has been successfully transferred to TESARO,
ZAI shall be responsible for all costs and expenses reasonably incurred by ZAI in the conduct of such clinical trials, and (iv) following the date on which the conduct of such clinical trials has been successfully transferred to TESARO, TESARO
shall be solely responsible for all costs and expenses of such ongoing clinical trials. 
 13.5 Survival. Termination or
expiration of this Agreement shall not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such termination or expiration nor preclude either Party from pursuing all rights and remedies it may
have hereunder or at law or in equity, subject to Section 14.2, with respect to any breach of this Agreement nor prejudice either Party’s right to obtain performance of any obligation. The following provisions shall
survive termination or expiration of this Agreement, as well as any other provision which by its terms or by the context thereof, is intended to survive such termination: Articles 1, 10, 11, and 15, and Sections 9.6, 9.7, 13.3, 13.4 and 13.5.. 

14. DISPUTE RESOLUTION 

14.1 Internal Resolution. Other than disputes subject to the final resolution by the JSC or Executives pursuant to
Section 3.5 or determinations made by certified accountants as provided in Section 8.7, in the event of any dispute between the Parties relating to or arising out of this Agreement, the formation,
construction, breach or termination hereof, or the rights, duties or liabilities of either Party hereunder, the Parties shall first attempt in good faith to resolve such dispute by negotiation and consultation between themselves, utilizing the
Alliance Managers. In the event that such dispute is not resolved on an informal basis within thirty (30) days, either Party may, by written notice to the other Party, refer the dispute to the Executive Officers for attempted resolution by good
faith negotiation within thirty (30) days after such notice is received. 
 14.2 Binding Arbitration. If the Executive
Officers are not able to resolve such disputed matter within thirty (30) days and any Party wishes to pursue the matter, each such dispute, controversy or claim that is not an Excluded Claim (defined in Section 14.3
below) shall be finally resolved by binding arbitration administered by the International Chamber of Commerce (“ICC”) pursuant its arbitration rules, and judgment on the arbitration award may be entered in any court having
jurisdiction thereof. The Parties agree that: 
 (a) The arbitration shall be conducted by a single arbitrator appointed by the ICC,
who shall be experienced in the pharmaceutical business in the relevant country. The place of arbitration shall be New York, New York, and all proceedings and communications shall be in English, unless otherwise agreed by all Parties involved in
such dispute. 
 (b) Any Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or
the controversy is otherwise resolved. Any Party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party
pending the arbitration award. 

  
 36. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (c) The arbitrator shall have no authority to award punitive or any other type of damages
not measured by a Party’s compensatory damage. Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrator’s fees and any administrative fees of arbitration regardless of the outcome of
such arbitration. 
 (d) Except to the extent necessary to confirm an award or as may be required by law, neither a Party nor the
arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of all Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding, based
on the dispute, controversy or claim, would have been barred by the applicable statute of limitations. 
 14.3 Excluded Claim.
As used in Section 14.2, the term “Excluded Claim” shall mean a dispute, controversy or claim that concerns the scope, validity, enforceability, inventorship or infringement of a patent, patent application,
trademark or copyright. Any Excluded Claim shall be submitted to a court of competent jurisdiction. 
 15. MISCELLANEOUS 

15.1 Severability. If any one or more of the provisions of this Agreement is held to be invalid or unenforceable, the provision
shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof. The Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such
that the objectives contemplated by the Parties when entering this Agreement may be realized. 
 15.2 Notices. Any notice
required or permitted to be given by this Agreement shall be in writing and shall be delivered by hand or overnight courier with tracking capabilities or mailed postage prepaid by first class, registered or certified mail addressed as set forth
below unless changed by notice so given: 
 If to ZAI: 

Zai Lab (Shanghai) Co., Ltd. 

1043 Halei Road, Building 8, Suite 502, Pudong, Shanghai, P.R. 

China, 201203 

[*] 
 With a copy
to: 
 Lila Hope, Ph.D. Cooley LLP 

3175 Hanover Street 

Palo Alto, CA 94304-1130 

[*] 

  
 37. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 If to TESARO: 

TESARO Inc. 

1000 Winter Street, Suite 3300 

Waltham, MA 02451 

Attention: Joseph Farmer, SVP and General Counsel 

[*] 
 With a copy
to: 
 Asher Rubin 

Hogan Lovells US LLP 

100 International Drive, Suite 2000 

Baltimore, MD 21201 

[*] 
 Any such notice shall be
deemed given on the date received. A Party may add, delete, or change the person or address to whom notices should be sent at any time upon written notice delivered to the Party’s notices in accordance with this Section 15.2. 

15.3 Force Majeure. Neither Party shall be liable for delay or failure in the performance of any of its obligations hereunder if
such delay or failure is due to causes beyond its reasonable control, including, without limitation, acts of God, fires, earthquakes, strikes and labor disputes, acts of war, terrorism, civil unrest or intervention of any governmental authority
(“Force Majeure”); provided, however, that the affected Party promptly notifies the other Party and further provided that the affected Party shall use its commercially reasonable efforts to avoid or remove such causes
of non-performance and to mitigate the effect of such occurrence, and shall continue performance with the utmost dispatch whenever such causes are removed. When such circumstances arise, the Parties shall
negotiate in good faith any modifications of the terms of this Agreement that may be necessary or appropriate in order to arrive at an equitable solution. 

15.4 Assignment. Neither Party may assign this Agreement to a Third Party without the other Party’s prior written consent
(such consent not to be unreasonably withheld); except that TESARO may make such an assignment without ZAI’s consent to a successor to substantially all of the business of such Party to which this Agreement relates (whether by merger, sale of
stock, sale of assets or other transaction) and either Party may assign this Agreement to an Affiliate without the other Party’s consent. This Agreement shall inure to the benefit of and be binding on the Parties’ successors and permitted
assigns. Any assignment or transfer in violation of this Section 15.4 shall be null and void and wholly invalid, the assignee or transferee in any such assignment or transfer shall acquire no rights whatsoever, and the non- assigning non-transferring Party shall not recognize, nor shall it be required to recognize, such assignment or transfer. 

15.5 Further Assurances. Each Party agrees to do and perform all such further acts and things and shall execute and deliver such
other agreements, certificates, instruments and documents necessary or that the other Party may deem advisable in order to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or otherwise confirm its rights
hereunder. 

  
 38. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 15.6 Waivers and Modifications. The failure of any Party to insist on the
performance of any obligation hereunder shall not be deemed to be a waiver of such obligation. Waiver of any breach of any provision hereof shall not be deemed to be a waiver of any other breach of such provision or any other provision on such
occasion or any succeeding occasion. No waiver, modification, release or amendment of any obligation under or provision of this Agreement shall be valid or effective unless in writing and signed by all Parties hereto. 

15.7 Choice of Law. This Agreement shall be governed by, enforced, and shall be construed in accordance with the laws of the
State of New York, U.S. without regard to its conflicts of law provisions. 
 15.8 Publicity. Neither Party shall issue any
press release or public statement disclosing the existence of this Agreement or any other information relating to this Agreement, the other Party, or the transactions contemplated hereby without the prior written consent of the other Party,
provided, however, that any disclosure which is required by Applicable Law or the rules of a securities exchange, as reasonably advised by the disclosing Party’s counsel, may be made subject to the following. The Parties agree that any
such required disclosure will not contain confidential business or technical information and, if disclosure of confidential business or technical information is required by Applicable Law, the Parties will use appropriate diligent efforts to
minimize such disclosure and obtain confidential treatment for any such information which is disclosed to a governmental agency. Each Party agrees to provide to the other Party a copy of any public announcement regarding this Agreement or the
subject matter thereof as soon as reasonably practicable under the circumstances prior to its scheduled release. Except under extraordinary circumstances, or as otherwise required under Applicable Law or the rules of a securities exchange, each
Party shall provide the other with an advance copy of any such announcement at least five (5) business days prior to its scheduled release. Each Party shall have the right to expeditiously review and recommend changes to any such announcement
and, except as otherwise required by Applicable Law or the rules of a securities exchange, the Party whose announcement has been reviewed shall remove any Confidential Information of the reviewing Party that the reviewing Party reasonably deems to
be inappropriate for disclosure. The contents of any announcement or similar publicity which has been reviewed and approved by the reviewing Party can be re-released by either Party without a requirement for re-approval. Nothing in this Section 15.8 shall be construed to prohibit ZAI or its Affiliates or Sublicensees from making a public announcement or disclosure regarding the stage of
development of Licensed Product(s) in ZAI’s (or its Affiliates’ or Sublicensees’) product pipeline or disclosing clinical trial results regarding such Licensed Product(s), as may be required by Applicable Law or the rules of a
securities exchange, as reasonably advised by ZAI’s (or its Affiliates’ or Sublicensees’) counsel. 
 15.9
Relationship of the Parties. Each Party is an independent contractor under this Agreement. Nothing contained herein is intended or is to be construed so as to constitute TESARO and ZAI as partners, agents or joint venturers. Neither Party
shall have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. 

  
 39. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 15.10 Headings. Headings and captions are for convenience only and are not be used
in the interpretation of this Agreement. 
 15.11 Entire Agreement. This Agreement (including all Exhibits attached hereto,
which are incorporated herein by reference) (a) sets forth all of the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto with respect to the subject matter hereof,
(b) constitutes and contains the complete, final and exclusive understanding and agreement of the Parties with respect to the subject matter hereof, and (c) cancels, supersedes and terminates all prior agreements (including the Prior CDA)
and understanding between the Parties with respect to the subject matter hereof. There are no covenants, promises, agreements, warranties, representations, conditions or understandings with respect to the subject hereof, whether oral or written,
between the Parties other than as set forth herein. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties hereto unless reduced to writing and signed by the respective authorized officers of the
Parties. 
 15.12 Counterparts. This Agreement may be executed in counter-parts with the same effect as if both Parties had
signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument. 

15.13 Registration. If required by Applicable Law, ZAI shall be responsible for the registration of this Agreement with all
applicable Regulatory Authorities in the ZAI Territory. TESARO shall reasonably cooperate with ZAI in obtaining any such registrations, including providing relevant documents required by the applicable Regulatory Authorities in the ZAI Territory.
Upon successful registration of this Agreement with each applicable Regulatory Authority in the ZAI Territory, ZAI shall promptly forward to TESARO copies of any registration certificates as well as any other documentation received by ZAI. 

15.14 Interpretation. 

(a) Each of the Parties acknowledges and agrees that this Agreement has been diligently reviewed by and negotiated by and between them,
that in such negotiations each of them has been represented by competent counsel and that the final agreement contained herein, including the language whereby it has been expressed, represents the joint efforts of the Parties hereto and their
counsel. Accordingly, in interpreting this Agreement or any provision hereof, no presumption shall apply against any Party hereto as being responsible for the wording or drafting of this Agreement or any such provision, and ambiguities, if any, in
this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have authored the ambiguous provision. The English language version of this Agreement shall control any interpretations of the provisions of this
Agreement. 

  
 40. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b) The definitions of the terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be
followed by the phrase “without limitation” whether or not such phrase is included. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The word “any” shall mean
“any and all” unless otherwise clearly indicated by context. The words “day”, “quarter” or “year” means a calendar day, quarter or year, as applicable, unless otherwise specified. 

(c) Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document
herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or
therein), (ii) any reference to any Applicable Law herein shall be construed as referring to such Applicable Law as from time to time enacted, repealed or amended, (iii) any reference herein to any person shall be construed to include the
person’s successors and assigns, (iv) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular
provision hereof, and (v) all references herein to Articles, Sections or Exhibits, unless otherwise specifically provided, shall be construed to refer to Articles, Sections and Exhibits of this Agreement. 

{Signature Page Follows} 

  
 41. 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the Parties have caused this License Agreement to be executed by their
respective duly authorized officers. 
  

			
	Zai Lab (Shanghai) Co., Ltd.
		
	By:	 	 /s/ Samantha Du

	Name:	 	Samantha Du
	Title:	 	CEO
	
	TESARO, Inc.
		
	By:	 	 /s/ Leon O. Moulder Jr.

	Name:	 	Leon O. Moulder Jr.
	Title:	 	CEO
	
	TESARO DEVELOPMENT Ltd.
		
	By:	 	 /s/ Joseph Farmer

	Name:	 	Joseph Farmer
	Title:	 	Director

  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit A 

[*] 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit B 

[*] 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit C: Transferred Materials 

[*] (two pages omitted) 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit D: Development Plan—Niraparib Clinical development plan in China 

[*] (two pages omitted) 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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