Document:

Exhibit 10.1

 

AMENDED AND RESTATED

 

RESEARCH COLLABORATION AND LICENSE AGREEMENT

 

by and
between

 

gilead
sciences, Inc.

 

and

 

hookipa
biotech gmbH

 

     

     

    

 

TABLE OF CONTENTS

 

	1.	DEFINITIONS AND INTERPRETATION	1
	2.	PROGRAMS	17
	3.	LICENSES; EXCLUSIVITY	21
	4.	GOVERNANCE	23
	5.	TECHNOLOGY TRANSFERS	28
	6.	DEVELOPMENT AND REGULATORY MATTERS	29
	7.	MANUFACTURING	31
	8.	COMMERCIALIZATION	32
	9.	FINANCIAL PROVISIONS	32
	10.	REPORTS AND PAYMENT TERMS	41
	11.	INTELLECTUAL PROPERTY RIGHTS	43
	12.	CONFIDENTIALITY	47
	13.	TERM AND TERMINATION	49
	14.	EFFECT OF TERMINATION	51
	15.	REPRESENTATIONS, WARRANTIES, AND COVENANTS	53
	16.	INDEMNIFICATION; LIABILITY	58
	17.	PUBLICATIONS AND PUBLICITY	60
	18.	GENERAL PROVISIONS	61

 

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LIST OF EXHIBITS AND SCHEDULES

Exhibits

 

	Exhibit A: 	[***]
	Exhibit B1:	[***]
	Exhibit B2: 	[***]
	Exhibit B3: 	[***]
	Exhibit C: 	[***]

 

Schedules

 

	Schedule 1.1(a)	[***]
	Schedule 1.1(b)	[***]
	Schedule 3.2(c):	[***]
	Schedule 9.5(a): 	[***]
	Schedule 17.2(b): 	Draft Press Release 2022

 

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AMENDED AND RESTATED

RESEARCH COLLABORATION AND LICENSE AGREEMENT

 

This AMENDED AND RESTATED
RESEARCH COLLABORATION AND LICENSE AGREEMENT (this “Agreement”) is made as of February 15, 2022 (the “Effective
Date”), by and between Gilead Sciences, Inc., a Delaware corporation having an office at 333 Lakeside Drive, Foster City, CA
94404, USA (“Gilead”) and Hookipa Biotech GmbH, an Austrian corporation having an office at St Marx Vienna BioCenter:
Helmut-Qualtinger-Gasse 2, 1030 Vienna, Austria (“Hookipa”). Gilead and Hookipa are each referred to individually as
a “Party” and together as the “Parties.”

 

RECITALS

 

WHEREAS, Gilead and
Hookipa Biotech GmbH (formerly known as Hookipa Biotech AG) entered into that certain Research Collaboration and License Agreement dated
June 4, 2018 (as amended from time to time prior to the Effective Date of this Agreement, the “Original Collaboration Agreement”);

 

WHEREAS, pursuant to
the Original Collaboration Agreement, Hookipa and Gilead have been collaborating with respect to certain preclinical research programs
to evaluate potential vaccine products developed from or otherwise using the Hookipa Technologies for the treatment, cure, diagnosis or
prevention of HBV or HIV (each, as defined below);

 

WHEREAS, the Parties
desire to amend and restate the Original Collaboration Agreement as set forth herein to allocate additional research and development responsibility
with regard to the HIV Program (as defined below) into Hookipa; and

 

WHEREAS, simultaneously
with the execution of this Agreement, Gilead and Hookipa Pharma Inc., an Affiliate (as defined below) of Hookipa, are entering into that
certain stock purchase agreement, pursuant to which Hookipa Pharma Inc. wishes to sell to Gilead, and Gilead wishes to buy from Hookipa
Pharma Inc., up to USD 35 million of Hookipa Pharma Inc.’s common stock to support the increased research and development responsibility
of Hookipa (the “Equity Agreement”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements herein contained, the Parties hereby amend and restate the Original Collaboration
Agreement in its entirety effective as of the Effective Date as follows:

 

1.             DEFINITIONS
AND INTERPRETATION

 

1.1             
Definitions. Unless the context otherwise requires, the terms in this Agreement with initial letters capitalized
shall have the meanings set forth below, or the meaning as designated in the indicated places throughout this Agreement.

 

“ACA” means
the Patient Protection and Affordable Care Act.

 

“Accounting Standards”
means, with respect to Gilead, U.S. GAAP and, with respect to Hookipa, Austrian GAAP.

 

“Affiliate”
means, with respect to a Person, any entity or person that controls, is controlled by, or is under common control with that Person.
For the purpose of this definition, “control” or “controlled” means, direct or indirect ownership of more
than fifty percent (50%) of the shares of stock entitled to vote for the election of directors in the case of a corporation or more
than fifty percent (50%) of the equity interest in the case of any other type of legal entity; status as a general partner in any
partnership; or any other arrangement whereby the entity or person controls or has the right to control the board of directors or
equivalent governing body of a corporation or other entity or the ability to cause the direction of the management or policies of a
corporation or other entity. The Parties acknowledge that in the case of entities organized under the laws of certain countries
where the maximum percentage ownership permitted by Applicable Law for a foreign investor is less than fifty percent (50%), such
lower percentage shall be substituted in the preceding sentence; provided, that such foreign investor has the power to direct
the management and policies of such entity.

 

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“Affordable Basis”
means the sale or other disposition of a Licensed Product at cost or with a [***] of the fully-burdened Manufacturing/acquisition cost
of such Licensed Product.

 

“Agreement”
shall have the meaning set forth in the first and opening paragraph of this Agreement.

 

“Alliance Manager”
shall have the meaning set forth in Section 4.6.

 

“Antigen”
means an HBV Antigen or an HIV Antigen, as the context requires.

 

“Applicable Law”
means, individually and collectively, any federal, state, local, national, and supra-national laws, treaties, statutes, ordinances, rules,
and regulations, including any rules, regulations, guidance, guidelines, or requirements having the binding effect of law of national
securities exchanges, automated quotation systems, or securities listing organizations, Regulatory Authorities, courts, tribunals, agencies
other than Regulatory Authorities, legislative bodies, and commissions that are in effect from time to time during the Term and applicable
to a particular activity hereunder. Applicable Law includes Data Protection Law.

 

“Audited Party”
shall have the meaning set forth in Section 10.6(b).

 

“Auditing Party”
shall have the meaning set forth in Section 10.6(b).

 

“Auditor”
shall have the meaning set forth in Section 10.6(b).

 

“Austrian GAAP”
means Austrian generally accepted accounting principles, as consistently applied.

 

“Base Exchange Rate”
means the exchange rate of [***] USD per Euro.

 

“Biosimilar”
means a biological medicine or biological product for human use which: (a) is highly similar to a reference biological medicine or biological
product that has Regulatory Approval in the country or jurisdiction in question; (b) has no clinically meaningful differences from such
reference product as determined by Applicable Laws or any applicable Regulatory Authority; and (c) is approved for use (i) in the U.S.,
as a biosimilar biologic product (as defined in the ACA) pursuant to an abbreviated Regulatory Approval process established under the
ACA, (ii) in the EU, as a similar biological medicine pursuant to Directive 2001/83/EC or Regulation (EC) No 726/2004, as amended (as
applicable), or (iii) in any other country or jurisdiction, pursuant to an equivalent regime in such country or jurisdiction.

 

“BLA” means
a Biologics License Application filed with the FDA in the United States with respect to a Licensed Product, as defined in Title 21 of
the U.S. Code of Federal Regulations, Section 601.2 et seq.

 

“Breaching Party”
shall have the meaning set forth in Section 13.2.

 

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“Brief”
shall have the meaning set forth in Section 18.5(b).

 

“Business Day”
means a day that is not: (a) a Saturday, Sunday, a day on which banking institutions in San Francisco, California or Vienna, Austria are
required by Applicable Law to remain closed or otherwise generally closed; (b) the seven (7)-day period from Sunday through Saturday during
each Calendar Year which includes July 4; or (c) December 26 through December 31.

 

“Calculation Agreement”
shall have the meaning as defined in the Letter Agreement.

 

“Calendar Quarter”
means each successive period of three (3) calendar months commencing on January 1, April 1, July 1, and October 1, except that the first
Calendar Quarter of the Term shall commence on the Original Effective Date and end on the day immediately prior to the first to occur
of January 1, April 1, July 1, or October 1 after the Original Effective Date, and the last Calendar Quarter shall end on the last day
of the Term.

 

“Calendar Year”
means each successive period of twelve (12) calendar months commencing on January 1 and ending on December 31, except that the first Calendar
Year of the Term shall commence on the Original Effective Date and end on December 31 of the year in which the Original Effective Date
occurs and the last Calendar Year of the Term shall commence on January 1 of the year in which the Term ends and end on the last day of
the Term.

 

“Claims”
shall have the meaning set forth in Section 16.1.

 

“Clinical Supply
Agreement” means the Clinical Supply Agreement between the Parties, dated December 22, 2020.

 

“CMC” means
chemistry, manufacturing, and controls portion of a Regulatory Filing.

 

“Code”
shall have the meaning set forth in Section 13.3.

 

“Collaboration Term”
means the HBV Collaboration Term or the HIV Collaboration Term, as the context requires.

 

“Combination Product”
means any product, [***], that combines: (a) [***] (the “Vaccine Product”); and (b) one (1) or more [***] (each, an
 “Other Product”), whether [***].

 

“Commercialize”
means to market, promote, distribute, import, export, offer to sell, or sell a pharmaceutical or biological product or conduct other commercialization
activities, and “Commercialization” means marketing, promoting, distributing, importing, exporting, offering for sale,
selling or other commercialization activities with respect to a pharmaceutical or biological product. For clarity, “Commercialization”
does not include Research, Development or Manufacturing.

 

“Commercially Reasonable
Efforts” means: (a) with respect to [***]; and (b) with respect to [***].

 

“Competing Infringement”
has the meaning set forth in Section 11.3(a).

 

“Confidential
Information” means any non-public, proprietary, scientific, technical, business, or other information of a Party or of any
of its Affiliates which is disclosed to or otherwise received by the other Party in context of the performance of this Agreement or
the Original Collaboration Agreement on or after the Original Effective Date, whether in writing, orally or in graphic form, whether
by hard copy or by electronic data transfer, whether explicitly marked as confidential or not, in particular information relating to
corporate status, intellectual property rights, know-how, trade and business secrets, products, development activities, commercial
and licensing relationships, business status and strategies as well as marketing plans, technical or non-technical data, scientific
data, analysis, studies and results, chemical structures and sequences, financial and commercial data, financial plans, or lists of
actual or potential partners, customers or suppliers, and including any information that would be apparent to a reasonable Person,
familiar with the Parties’ business or industry, to be of a confidential or proprietary nature, as well as any other
information deemed Confidential Information as expressly provided in this Agreement. For clarity, subject to Section 12.2:
(a) any Know-How provided or otherwise made available by Gilead for use in a Program (including Antigens), shall be deemed
Gilead’s Confidential Information; and (b) any Know-How provided or otherwise made available by Hookipa for use in a Program
shall be deemed Hookipa’s Confidential Information.

 

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“Control”
or “Controlled” means, with respect to any Patent Rights, Know-How, material, or other intellectual property rights,
or any proprietary or trade secret information, that a Party or any of its Affiliates: (a) owns such Patent Right, Know-How, material,
or other intellectual property right, or proprietary or trade secret information; or (b) has a license to or a right to use such Patent
Right, Know-How, material, or other intellectual property right, or proprietary or trade secret information and, in each case of (a) or
(b), possesses the right (other than by operation of this Agreement), whether directly or indirectly, to grant the other Party access,
a right to use, or a license or sublicense, as applicable, to or under such Patent Rights, Know-How, material, or other intellectual property
rights, or proprietary or trade secret information, as provided herein, without: (i) violating the terms of any agreement with or obligation
to any Third Party in existence as of the time such Party or any Affiliates of such Party would first be required hereunder to grant the
other Party such access, right to use, license, or sublicense; or (ii) incurring any financial or other material obligation towards any
Third Party that assigned or licensed such Patent Rights, Know-How, material, or other intellectual property rights, or disclosed such
proprietary or trade secret information to such first Party or any Affiliates of such first Party that become due in connection with the
other Party’s use thereof hereunder, unless, with respect to (ii): (A) such other Party agrees in writing to pay any sums arising
from such financial obligations pursuant to Section 9.5(a); or (B) such financial obligations are triggered pursuant to a
Hookipa Third Party Agreement set forth on Schedule 9.5(a).

 

“Data Protection
Law” means the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of
natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC
(General Data Protection Regulation) as well as, if applicable, any other data protection laws of the United States and any data
protection laws applicable to either Party in connection with this Agreement. “Personal Data” as used in this Agreement
means any information relating to an identified or identifiable natural person as defined in the General Data Protection Regulation.

 

“Default”
means: (a) any breach, violation, or default; (b) the existence of circumstances or the occurrence of an event that with the passage of
time or the giving of notice or both would constitute a breach, violation, or default; or (c) the existence of circumstances or the occurrence
of an event that, with or without the passage of time or the giving of notice or both, would give rise to a right of termination, renegotiation,
acceleration, or material change of terms.

 

“Develop”
or “Development” means drug or vaccine development activities relating to pharmaceutical or biological products, including
test method development, process development and stability testing, assay and audit development, toxicology, formulation, quality assurance
and quality control development, statistical analysis, clinical trials, and regulatory affairs, and the preparation, filing, and prosecution
of MAAs and other Regulatory Approvals. For clarity, “Development” does not include Research, Manufacturing, or Commercialization.

 

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“Development-Ready”
means that a Licensed Product is considered “Development-Ready” in accordance with Section 2.3(a) or Section 2.4(b)(i).

 

“Disclosing Party”
shall have the meaning set forth in Section 12.1.

 

“Dispute”
shall have the meaning set forth in Section 18.5(a).

 

“Edinburgh Agreement”
means the License Agreement between Hookipa and The University Court of the University of Edinburgh, dated June 28 and July 4, 2018.

 

“Effective Date”
shall have the meaning set forth in the first and opening paragraph of this Agreement.

 

“EMA” means
the European Medicines Agency or any successor entity thereto.

 

“Encumbrance”
means any claim, charge, equitable interest, hypothecation, lien, mortgage, pledge, option, license, assignment to a Third Party, power
of sale, retention of title by a Third Party, right of pre-emption, right of first refusal, or security interest of any kind.

 

“Equity Agreement”
shall have the meaning set forth in the Recitals.

 

“EU” means
the European Union, as its membership may be constituted from time to time, and any successor thereto; provided, that for all purposes
of this Agreement, unless otherwise required by mandatory Applicable Law, “EU” shall continue to include the United Kingdom.

 

“EU Major Market
Countries” means [***].

 

“EU Regulatory Approval”
means achievement of both: (a) receipt of written notice from EMA of approval by EMA or, as the case may be, from MHRA of approval by
MHRA, of an MAA submitted by Gilead, its Affiliates, or its sublicensees for a Licensed Product; and (b) either (i) receipt of written
notice from the applicable Regulatory Authorities of Pricing Approval for such Licensed Product in [***] EU Major Market Countries, or
(ii) First Commercial Sale (disregarding any requirements for Pricing Approvals) of such Licensed Product in [***] EU Major Market Countries.

 

“FDA” means
the United States Food and Drug Administration or any successor entity thereto.

 

“FDCA”
shall have the meaning set forth in Section 6.6.

 

“Field”
means all uses, including treatment, cure, diagnosis, or prevention, in the indications HIV or HBV [***].

 

“First Commercial
Sale” means, with respect to a Licensed Product, the first sale or other disposition for value of such Licensed Product to a
Third Party by Gilead or its Affiliates or sublicensees in a country in the Territory following applicable Regulatory Approval of such
Licensed Product in such country. Dispositions of Licensed Product, or use of Licensed Product in, clinical trials or other scientific
testing, as free samples, or under named patient use, compassionate use, patient assistance, charitable purposes, on an Affordable Basis,
or test marketing programs or other similar programs or studies shall not be considered a First Commercial Sale.

 

“[***]” means
[***].

 

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“FTE” shall
have the meaning set forth in the definition of “FTE Rate.”

 

“FTE Rate”
means a rate of [***] per annum (as of the Original Effective Date) based on the yearly time for a full-time equivalent scientific employee,
consisting of a total of [***] hours per annum (“FTE”), to be pro-rated on a [***] basis if necessary (per annum amount
to be divided by [***] to produce the rate per whole day consisting of at least [***] hours); such rate to be: (a) restricted to scientific
work and managerial activities related directly to the applicable Program(s); and (b) increased at the start of each Calendar Year by
[***] during the term of this Agreement and the Original Collaboration Agreement, commencing on January 1, 2019; provided, that
the increase as of January 1, 2019 shall be based on [***]. For the avoidance of doubt: (i) such rate includes [***]; and (ii) in no event
shall any one (1) individual be counted as more than one (1) FTE.

 

“GCP” means
the then-current standards, practices, and procedures: (a) promulgated or endorsed by the FDA as set forth in the guidelines entitled,
 “Guidance for Industry E6 Good Clinical Practice: Consolidated Guidance,” including related regulatory requirements imposed
by the FDA; (b) set forth in Directive 2001/20/EC of the European Parliament and of the Council of April 4, 2001, Commission Directive
2005/28/EC of April 8, 2005 and Regulation (EU) No 536/2014 of the European Parliament and of the Council of 16 April 2014; (c) ICH Guideline
for Good Clinical Practice E6; (d) analogous Applicable Laws of an applicable Regulatory Authority; and (e) all additional Regulatory
Authority documents or regulations that replace, amend, modify, supplant, or complement any of the foregoing.

 

“Generic Version”
means, with respect to a Licensed Product, a product (including a “biogeneric,” “follow-on biologic,” “follow-on
biological medicine or product,” “follow-on protein product,” “similar biological medicine or product,”
or “biosimilar product”) that: (a) within the U.S., is “biosimilar” or “interchangeable,” with respect
to such Licensed Product as evaluated by the FDA or otherwise determined by Applicable Law; or (b) in the ROW, is determined by the applicable
Regulatory Authority or by Applicable Law to be “similar,” “comparable,” “interchangeable,” “bioequivalent,”
or “biosimilar” to such Licensed Product. For clarity, a Biosimilar of a Licensed Product shall constitute a Generic Version
of such Licensed Product.

 

“Gilead”
shall have the meaning set forth in the first and opening paragraph of this Agreement.

 

“Gilead Background
Intellectual Property” means any and all Patent Rights, Know-How, and other intellectual property rights: (a) in existence and
owned or otherwise Controlled by Gilead or its Affiliates as of the Original Effective Date; or (b) that arise or have arisen outside
of this Agreement and the Original Collaboration Agreement and are owned or otherwise Controlled by Gilead or its Affiliates after the
Original Effective Date.

 

“Gilead Improvements”
means any and all Improvements other than (a) Hookipa Technologies Improvements and (b) Hookipa HIV Development Program Improvements.
As of the Effective Date, the Patent Rights included in the Gilead Improvements are set forth on Schedule 1.1(a).

 

“Gilead Indemnitees”
shall have the meaning set forth in Section 16.1.

 

“GLP” means
the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, as such regulations
may be amended from time to time, and analogous Applicable Laws of an applicable Regulatory Authority and all additional Regulatory Authority
documents or regulations that replace, amend, modify, supplant, or complement any of the foregoing.

 

“GMP”
means then-current standards for the Manufacture of pharmaceutical products, pursuant to: (a) the FDCA (21 U.S.C. § 321 et
seq.); (b) relevant United States regulations in Title 21 of the United States Code of Federal Regulations (including Parts 11, 210,
and 211); (c) European Community Directives 2003/94 and 91/356/EC; (d) the European Community Guide to Good Manufacturing Practice
for Medicinal Intermediate Products; (e) ICH Q7A Good Manufacturing Practice Guidance for Active Pharmaceutical Ingredients; (f)
analogous Applicable Laws of an applicable Regulatory Authority at the time of Manufacture; and (g) all additional Regulatory
Authority documents or regulations that replace, amend, modify, supplant, or complement any of the foregoing.

 

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“Grant-Back Agreement”
shall have the meaning set forth in Section 2.4(d).

 

“HB-500 Program Candidate”
means any HIV Licensed Product developed under the Original Collaboration Agreement as of the Effective Date. For clarity, the HB-500
Program Candidate(s) use(s) the Hookipa Technologies [***] (the “Selected HIV Antigens”).

 

“HB-500 Program Product”
means, collectively: (a) the HIV Licensed Products as in existence as of the Option Exercise Date (or Option Decline Date, as applicable);
and (b) modified, refined, and improved version(s) of the HB-500 Program Candidates (provided, that such modified, refined, or
improved version(s) [***].

 

“HBV” means
hepatitis B virus.

 

“HBV Antigen”
means any [***], that is intended to stimulate an immune response in humans against HBV.

 

“HBV Collaboration
Term” means the period of time commencing on the Original Effective Date and concluding upon the earlier of: (a) the completion
of all activities set forth in the HBV Research Plan; or (b) the termination of the HBV Program in accordance with Section 13.4(a)(i).

 

“HBV Licensed Product”
means any product containing, incorporating, or otherwise including an HBV Licensed Vaccine, in any dosage strength, formulation, or method
of administration.

 

“HBV Licensed Vaccine”
means any vaccine developed under this Agreement or the Original Collaboration Agreement, which vaccine was developed from or otherwise
uses the Hookipa Technologies to express one (1) or more HBV Antigens.

 

“HBV Program”
means all Research activities conducted solely or jointly by the Parties during the HBV Collaboration Term pursuant to the HBV Research
Plan.

 

“HBV Research Budget”
shall have the meaning set forth in the definition of “HBV Research Plan.”

 

“HBV Research Plan”
means the research plan as of the Original Effective Date attached as Exhibit A to this Agreement and any amendments thereto, including
the integrated budget (the “HBV Research Budget”), research goals, activities (including IND-Enabling Studies), timelines,
deliverables, allocation of responsibilities between the Parties, and the commitment of resources by the respective Parties with respect
to the HBV Program.

 

“HBV Royalty Term”
shall have the meaning set forth in Section 9.3(b)(i).

 

“HIV” means
human immunodeficiency virus.

 

“HIV Antigen”
means any [***], that is intended to stimulate an immune response in humans against HIV.

 

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“HIV Collaboration
Program” means all Research activities conducted solely or jointly by the Parties during the HIV Collaboration Term pursuant
to the HIV Research Plan.

 

“HIV Collaboration
Term” means the period of time that commenced on the Original Effective Date and concluded as of the Effective Date.

 

“HIV Development
Plan” means the development plan attached as Exhibit B2 and any amendments thereto, including the integrated budget,
development goals, activities (including the Phase 1b Clinical Trial to be conducted pursuant to the HIV Development Plan), timelines,
deliverables (including a samples plan [***]), responsibilities of Hookipa and, if applicable, Gilead, and the contribution of resources
(including [***] and, as the case may be, if agreed upon by Gilead, [***]) by the respective Parties with respect to the HIV Development
Program.

 

“HIV Development
Program” means all Development activities conducted solely or jointly by the Parties during the HIV Development Term with respect
to the HB-500 Program Candidates pursuant to the HIV Development Plan.

 

“HIV Development
Term” means the period of time commencing on the Effective Date and concluding upon the earliest of: (a) the date on which Hookipa
has delivered to Gilead the Option Exercise Data Package; (b) the Option Exercise Date; or (c) December 31, 2026.

 

“HIV Licensed Product”
means any product containing, incorporating, or otherwise including an HIV Licensed Vaccine, in any dosage strength, formulation, or method
of administration. For clarity, “HIV Licensed Product” shall include any HB-500 Program Candidate and HB-500 Program Product.

 

“HIV Licensed Vaccine”
means any vaccine developed under this Agreement or the Original Collaboration Agreement, which vaccine was developed from or otherwise
uses the Hookipa Technologies to express one (1) or more HIV Antigens.

 

“HIV Program”
means the HIV Collaboration Program or the HIV Development Program, as the context requires.

 

“HIV Research Budget”
shall have the meaning set forth in the definition of “HIV Research Plan.”

 

“HIV Research Plan”
means the research plan as of the Original Effective Date attached as Exhibit B1 to this Agreement and any amendments thereto,
including the integrated budget (the “HIV Research Budget”), research goals, activities (including IND-Enabling Studies),
timelines, deliverables, allocation of responsibilities between the Parties, and the commitment of resources by the respective Parties
with respect to the HIV Collaboration Program.

 

“Hookipa”
shall have the meaning set forth in the first and opening paragraph of this Agreement.

 

“Hookipa Background
Intellectual Property” means any and all Patent Rights, Know-How, and other intellectual property rights: (a) in existence and
owned or otherwise Controlled by Hookipa or its Affiliates as of the Original Effective Date; or (b) that arise or have arisen outside
of this Agreement and the Original Collaboration Agreement and are owned or otherwise Controlled by Hookipa or its Affiliates after the
Original Effective Date.

 

“Hookipa HIV Development
Program Improvements” means [***].

 

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“Hookipa Indemnitees”
shall have the meaning set forth in Section 16.2.

 

“Hookipa Know-How”
means any and all Know-How owned or otherwise Controlled by Hookipa or its Affiliates as of the Effective Date or at any time during the
Term which is necessary or reasonably useful for Researching, Developing, Manufacturing, or Commercializing Licensed Products, including,
subject to the foregoing, Know-How included in Hookipa HIV Development Program Improvements.

 

“Hookipa Patent Rights”
means any and all Patent Rights owned or otherwise Controlled by Hookipa or its Affiliates as of the Effective Date or at any time during
the Term which are necessary or reasonably useful for Researching, Developing, Manufacturing, or Commercializing Licensed Products, including,
subject to the foregoing, Patent Rights included in Hookipa HIV Development Program Improvements. Exhibit C sets forth a complete
and accurate list of all Hookipa Patent Rights as of the Original Effective Date. Hookipa shall update Exhibit C as necessary
from time to time to reflect the then-current Hookipa Patent Rights.

 

“Hookipa Technologies”
means the TheraT Technology Platform and the Vaxwave Technology Platform.

 

“Hookipa Technologies
Improvements” means any Improvements that specifically relate to the Hookipa Technologies. For the avoidance of doubt, an [***].

 

“Hookipa Third Party
Agreement” means any agreement between Hookipa or an Affiliate thereof, on the one hand, and a Third Party, on the other hand:
(a) which is set forth on Schedule 9.5(a); (b) which Gilead has accepted prior to the Effective Date pursuant to Section 9.5(a)
of the Original Collaboration Agreement, including the Edinburgh Agreement; or (c) which Gilead accepts during the Term pursuant to Section 9.5(a).

 

“ICC Rules”
shall have the meaning set forth in Section 18.5(b).

 

“Improvements”
means: (a) any and all Know-How, compounds, sequences, molecules, data, derivatives, designs, developments, discoveries, enhancements,
inventions, materials, modifications, new uses, processes, products, research results, techniques, writings, or other technology rights,
whether or not patentable, in each case, that are invented, conceived, reduced to practice, or otherwise developed in the course of performance
of this Agreement or the Original Collaboration Agreement, whether solely by or on behalf of either of the Parties or jointly by or on
behalf of both Parties; and (b) any and all Patent Rights and other intellectual property rights in any of the foregoing.

 

“IND” means
an Investigational New Drug Application in the U.S. filed with the FDA or the corresponding application for the investigation of a product
in any other country or group of countries, as defined in the Applicable Laws and filed with the Regulatory Authority of the relevant
country or group of countries.

 

“IND-Enabling Studies”
means studies that are reasonably required to meet the requirements for filing an IND with a Regulatory Authority, including GLP toxicology
and safety studies, or studies required for the preparation of the CMC section of such IND, including studies relating to analytical methods
and purity analysis, and formulation and manufacturing development studies, and which also includes ADME (absorption, distribution, metabolism,
and excretion) information, all as necessary to obtain the permission of the Regulatory Authority in the relevant jurisdiction to begin
human clinical testing, which, for the avoidance of doubt, include the studies and activities identified in each of the HBV Research Plan
or the HIV Research Plan as IND-Enabling Studies.

 

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“Indemnification
Claim Notice” shall have the meaning set forth in Section 16.3(b).

 

“Indemnified Party”
shall have the meaning set forth in Section 16.3(b).

 

“Indemnifying Party”
shall have the meaning set forth in Section 16.3(b).

 

“Indemnitee”
means a Gilead Indemnitee or a Hookipa Indemnitee, as the context requires.

 

“Joint Committee”
means the JDC, the JRC or the JSC, as the context requires.

 

“Joint Committee
Co-Chairs” means the JDC Co-Chairs, the JRC Co-Chairs or the JSC Co-Chairs, as the context requires.

 

“Joint Development
Committee” or “JDC” shall have the meaning set forth in Section 4.3(a).

 

“Joint Research Committee”
or “JRC” shall have the meaning set forth in Section 4.2(a).

 

“Joint Steering Committee”
or “JSC” shall have the meaning set forth in Section 4.1(a).

 

“JDC Co-Chair”
shall have the meaning set forth in Section 4.3(b).

 

“JRC Co-Chair”
shall have the meaning set forth in Section 4.2(b).

 

“JSC Co-Chair”
shall have the meaning set forth in Section 4.1(b).

 

“Know-How”
means all tangible and intangible scientific or technical information, know-how, and data of any type whatsoever, whether or not patentable,
including inventions, discoveries, trade secrets, specifications, instructions, processes, formulae, materials, expertise and other technology
applicable to compounds, sequences, molecules, formulations, compositions, products or to their manufacture, development, registration,
use or commercialization or methods of assaying or testing them or processes for their manufacture, formulations containing them, compositions
incorporating or comprising them and including all biological, chemical, pharmacological, biochemical, toxicological, pharmaceutical,
physical, and analytical, safety, quality control, manufacturing, preclinical, and clinical data, instructions, processes, formulae, expertise,
and information, Regulatory Filings, and copies thereof, relevant to the development, manufacture, use, or commercialization of, or which
may be useful in studying, testing, development, production, or formulation of, products, or intermediates for the synthesis thereof.

 

“Knowledge”
means, with respect to any Person, the [***] knowledge of such Person’s executive officers, including, with respect to each Party,
its Senior Officer, after [***]. [***].

 

“Letter Agreement”
means the Letter Agreement between the Parties, dated August 26, 2019.

 

“Licensed Product”
means an HBV Licensed Product or an HIV Licensed Product, as the context requires.

 

“Licensed Technology”
means all Hookipa Patent Rights and Hookipa Know-How.

 

“Licensed Vaccine”
means an HBV Licensed Vaccine or an HIV Licensed Vaccine, as the context requires.

 

“Loss of Market
Exclusivity” means, with respect to any Licensed Product in any country or jurisdiction in the Territory, that: (a) [***]
Generic Versions of such Licensed Product has been sold by any Third Party (other than a permitted sublicensee of Gilead) in such
country or jurisdiction; and (b) units of such Generic Version(s) sold in that country or jurisdiction during any [***] represent at
least [***] of the sum of: (i) units of such Generic Version(s) and (ii) units of such Licensed Product, sold in that country or
jurisdiction during such [***].

 

    10

     

    

 

“Losses”
shall have the meaning set forth in Section 16.1.

 

“MAA” means
an application for the authorization to market a Licensed Product in any country or group of countries, as defined in the Applicable Laws,
and filed with the Regulatory Authority of a given country or group of countries, including a BLA.

 

“Manufacture”
means all activities related to manufacturing, packaging, in-process and finished product testing, release of product or any component
or ingredient thereof, quality assurance and quality control activities related to manufacturing and release of product, ongoing stability
tests, storage, shipment, and regulatory activities related to any of the foregoing. For clarity, “Manufacture” does not include
Research, Development, or Commercialization.

 

“Measurement Date”
shall have the meaning set forth in Section 10.2(b).

 

“MHRA”
means the UK Medicines and Healthcare Products Regulatory Agency or any successor entity thereto.

 

“Milestone Payments”
means the payments to be made by Gilead to Hookipa upon the achievement of the corresponding Milestones as set forth in Section 9.2
(or, as applicable, Section 9.6(b1)(iv)).

 

“Milestones”
means the milestone events relating to the Licensed Products as set forth in Section 9.2.

 

“Net Sales”
means, with respect to a Licensed Product, the gross amount invoiced or billed on sales of such Licensed Product in the Territory by a
Selling Party to any Third Party in bona-fide, arms’-length transactions, less [***]:

 

(a)            normal
and customary trade, cash, and quantity discounts, allowances, and credits allowed or paid, in the form of deductions actually allowed
with respect to sales of such Licensed Product (to the extent not already reflected in the amount invoiced and excluding commissions
for Commercialization);

 

(b)           retroactive
price reductions, allowances, or credits actually granted upon rejections or returns of Licensed Product, including for recalls or damaged
good and billing errors;

 

(c)           discounts,
chargeback payments, rebates, and reimbursements granted to wholesalers and other distributors, pharmacies and other retailers, managed
care organizations, group purchasing organizations, or other buying groups, pharmacy benefit management companies, health maintenance
organizations, federal, state/provincial, local, or other governments, and any other providers of health insurance coverage, health care
organizations, or other health care institutions (including hospitals), health care administrators, or patient assistance or other similar
programs;

 

(d)           compulsory
payments and cash rebates related to the sales of such Licensed Product paid to a governmental authority (or agent thereof) pursuant
to governmental regulations by reason of any national or local health insurance program or similar program, including required chargebacks
and retroactive price reductions, to the extent allowed and taken; including government levied fees as a result of healthcare reform
policies, to the extent such fees are specifically allocated to sales of such Licensed Product as a percentage of Gilead’s entire
pharmaceutical product sales;

 

    11

     

    

 

(e)            reasonable
and customary freight, shipping insurance and other transportation expenses to the extent they are separately itemized and included in
the gross amount invoiced and charged to the buyer;

 

(f)            tariffs;
duties; import, export, excise, sales, use, turnover, value-added, and other similar taxes (other than taxes based on income); customs
duties; or other government charges, in each case imposed on the sale of Licensed Product to the extent included in the price and separately
itemized on the invoice, including VAT, but only to the extent that such VAT are not reimbursable or refundable;

 

(g)           amounts
invoiced for sales of Licensed Product that are written off as uncollectible after reasonable collection efforts, in accordance with
standard practices of the applicable party; provided, that any recovery of such amounts shall be deemed a sale for the purposes
of calculating Net Sales; and

 

(h)           any other specifically identifiable amounts included in gross amounts invoiced or billed for the Licensed Products, to the
extent such amounts are customary deductions from net sales calculations in the pharmaceutical or biotechnology industries in the applicable
country or countries for reasons substantially equivalent to those listed above.

 

Such amounts shall be determined
from the books and records of the Selling Party, maintained in accordance with Accounting Standards. With respect to Net Sales not denominated
in USD, Gilead shall convert such Net Sales from the applicable foreign currency into USD in accordance with Section 10.2.

 

Net Sales shall include the
cash consideration received on a sale and the fair market value of all non-cash consideration. Dispositions of Licensed Product for, or
use of Licensed Product in, clinical trials or other scientific testing, as free samples, or under named patient use, compassionate use,
patient assistance, charitable purposes, on an Affordable Basis, or test marketing programs or other similar programs or studies shall
not result in any Net Sales.

 

In order to determine Net
Sales of a Licensed Product that is a Combination Product, the Net Sales applicable to such Combination Product in a country shall be
determined by [***]

 

If [***], then Net Sales shall
be calculated by [***].

 

If [***], then Net Sales shall
be calculated by [***].

 

If [***], the adjustment to
Net Sales shall be determined by [***].

 

“Non-Breaching Party”
shall have the meaning set forth in Section 13.2.

 

“Option”
shall have the meaning set forth in Section 2.4.

 

“Option Decline Date”
shall have the meaning set forth in Section 2.4(d).

 

“Option Exercise
Data Package” means the deliverables package consisting of the data and [***] for the HIV Development Program as set out in
Exhibit B3.

 

“Option Exercise
Date” shall have the meaning set forth in Section 2.4(a).

 

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“Option Period”
means the period of time commencing on the Effective Date and concluding at 11:59 pm PT (Pacific Time) on the sixtieth (60th)
day after Gilead’s receipt of the Option Exercise Data Package for the HIV Development Program.

 

“Original Collaboration
Agreement” shall have the meaning set forth in the Recitals.

 

“Original Effective
Date” means the effective date of the Original Collaboration Agreement, i.e., June 4, 2018.

 

“Other Gilead Intellectual
Property” shall have the meaning set forth in Section 2.4(d)(v).

 

“Other Product”
shall have the meaning set forth in the definition of “Combination Product.”

 

“Out-of-Pocket Costs”
means, with respect to certain activities hereunder, direct expenses actually paid by a Party or its Affiliates to Third Parties and specifically
identifiable and incurred to conduct such activities, but excluding (with respect to Hookipa’s Research activities) any costs included
in the FTE Rate.

 

“Party”
and “Parties” shall have the meaning set forth in the first and opening paragraph of this Agreement.

 

“Patent Rights”
means all rights, title, and interests in and to: (a) all national, regional, and international patents and patent applications filed
in any country of the world, including provisional patent applications and all supplementary protection certificates; (b) all patent applications
filed either from such patents, patent applications, or provisional applications or from an application claiming priority to any of the
foregoing, including any continuation, continuation-in-part, divisional, provisional, converted provisional, and continued prosecution
application, or any substitute application; (c) any patent issued with respect to or in the future issued from any such patent applications,
including utility models, petty patents, design patents, and certificates of invention; and (d) any and all extensions or restorations
by existing or future extension or restoration mechanisms, including revalidations, reissues, reexaminations, and extensions (including
any supplementary protection certificates and the like) of the foregoing patents or patent applications.

 

“Patent Term Extensions”
shall have the meaning set forth in Section 11.9.

 

“Payment Floor”
shall have the meaning set forth in Section 9.5(c).

 

“Permitted Recipient”
has the meaning set forth in Section 12.3(e).

 

“Person”
means any individual, partnership, limited liability company, firm, corporation, association, trust, unincorporated organization, or other
entity.

 

“Personal Data”
shall have the meaning set forth in the definition of “Data Protection Law.”

 

“[***]” means
a [***].

 

“[***]” means
a [***].

 

“[***]” means
a [***].

 

“Plan”
means any Research Plan or the HIV Development Plan, as the context requires.

 

“PPI” means
the Producer Price Index published by EuroStat.

 

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“Pricing Approval”
means any approval, agreement, determination, or decision establishing prices that can be charged to consumers for a pharmaceutical product
or that shall be reimbursed by governmental authorities for a pharmaceutical product, in each case, in a country where governmental authorities
approve or determine pricing for pharmaceutical products for reimbursement or otherwise.

 

“Product Marks”
shall have the meaning set forth in Section 11.6.

 

“Program”
means the HBV Program, the HIV Collaboration Program or the HIV Development Program, as the context requires.

 

“Program Completion
Fee” shall have the meaning set forth in Section 9.6(b)(ii).

 

“Program Initiation
Fee” shall have the meaning set forth in Section 9.6(b)(i).

 

“Proof of Concept
Clinical Trial” means a human clinical trial of a Licensed Product, which may be [***], and which is intended to [***].

 

“Prosecution and
Maintenance” or “Prosecute and Maintain” means, with respect to a Patent Right, the preparation, filing,
prosecution, and maintenance of such Patent Right, as well as re-examinations, reissues, appeals, and requests for patent term adjustments
and patent term extensions with respect to such Patent Right, together with the initiation or defense of interferences, the initiation
or defense of oppositions, and other similar proceedings with respect to the particular Patent Right, and any appeals therefrom. For clarity,
 “Prosecution and Maintenance” or “Prosecute and Maintain” shall not include any other enforcement actions taken
with respect to a Patent Right.

 

“Quality Agreement”
means the Quality Agreement for Manufacturing of Bulk Drug Substance and Drug Product between the Parties, dated October 21, 2021.

 

“Recipient Party”
shall have the meaning set forth in Section 12.1.

 

“Reference Exchange
Rate” has the meaning set forth in Section 10.2(b).

 

“[***]” means
a [***].

 

“Regulatory Approval”
means any and all approvals (including any applicable Pricing Approvals), licenses, registrations, or authorizations of any government
agency or authority that are necessary for the marketing and sale of a Licensed Product in the relevant country or group of countries
in the Territory.

 

“Regulatory Authority”
means any governmental agency or authority responsible for evaluating or granting Regulatory Approvals for Licensed Products, including
the FDA, the EMA, the European Commission, MHRA, and any corresponding national or regional regulatory authorities, as applicable.

 

“Regulatory Exclusivity”
means the ability to exclude Third Parties from Commercializing a Licensed Product in a country, either through data exclusivity rights,
orphan drug designation, or such other rights conferred by Applicable Laws or a Regulatory Authority in such country or jurisdiction,
in each case, other than through Patent Rights.

 

“Regulatory
Filings” means any submission to a Regulatory Authority of any appropriate regulatory application, including any
submission to a regulatory advisory board, marketing authorization application, and any supplement or amendment thereto. For the
avoidance of doubt, Regulatory Filings shall include any IND or MAA.

 

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“Research”
means activities related to the characterization, design, discovery, generation, identification, non-clinical or pre-clinical studies,
pre-clinical development, process development, optimization, production, or profiling of vaccine candidates or products. For clarity,
 “Research” does not include Commercialization, Development, or Manufacturing.

 

“Research Budget”
means the HBV Research Budget or the HIV Research Budget, as the context requires.

 

“Research Plan”
means the HBV Research Plan or the HIV Research Plan, as the context requires.

 

“Response”
shall have the meaning set forth in Section 18.5(b).

 

“ROW” means
all countries and territories of the world in the Territory other than the U.S.

 

“ROW HIV Royalty
Term” shall have the meaning set forth in Section 9.3(b)(iii).

 

“Royalty Term”
shall have the meaning set forth in Section 9.3(b)(iii).

 

“Samples”
means biological samples collected from subjects in a human clinical trial conducted by or on behalf of Hookipa or its Affiliates hereunder,
for instance the Phase 1b Clinical Trial contemplated under the HIV Development Plan.

 

“Sample Results”
shall have the meaning set forth in the HIV Development Plan.

 

“Selected Dispute”
shall have the meaning set forth in Section 18.5(a).

 

“Selected HIV Antigens”
shall have the meaning set forth in the definition of “HB-500 Product Candidate.”

 

“Selling Party”
means Gilead, its Affiliates, or its sublicensees, in each case, expressly excluding distributors.

 

“Senior Officers”
means, with respect to Gilead, [***] or his designee, and, with respect to Hookipa, [***] or his designee.

 

“Sublicense Payments”
shall have the meaning set forth in Section 9.5(a).

 

“Term”
shall have the meaning set forth in Section 13.1.

 

“Terminated Licensed
Product” means, with respect to: (a) the termination of this Agreement with respect to a Licensed Product pursuant to Sections 13.2
or 13.4(b), the Licensed Product subject to such termination; (b) the termination of this Agreement with respect to a country in
the Territory pursuant to Sections 13.2 or 13.4(b), all Licensed Products in the country in the Territory subject to
such termination; (c) the termination of this Agreement with respect to a Program pursuant to Sections 13.4(a) or 13.4(b),
all Licensed Products in the Territory included in the Program subject to such termination (provided, that any Development-Ready
Licensed Product shall not be deemed to be “included in the Program”); and (d) the termination of this Agreement in its entirety,
all Licensed Products in all countries in the Territory.

 

“Territory”
means all countries and territories of the world.

 

    15

     

    

 

“TheraT Technology
Platform” means [***].

 

“Third Party”
means any Person other than a Party or an Affiliate of a Party.

 

“Third Party Infringement”
has the meaning set forth in Section 11.4(a).

 

“U.S. GAAP”
means United States generally accepted accounting principles, as consistently applied.

 

“U.S. HIV Royalty
Term” shall have the meaning set forth in Section 9.3(b)(ii).

 

“United States”
or “U.S.” means the United States of America, its territories, and its possessions.

 

“USD” or
 “$” means United States Dollars, the lawful currency of the United States.

 

“Vaccine Product”
shall have the meaning set forth in the definition of “Combination Product.”

 

“Valid Claim”
means a claim in: (a) an issued and unexpired patent which has not been revoked or held unenforceable or invalid by a decision of a court,
patent office, or other governmental agency of competent jurisdiction from which no appeal can be or has been taken within the time allowed
for appeal, and which has not been disclaimed, donated to the public or admitted to be invalid or unenforceable through reissue, re-examination,
disclaimer, or otherwise; (b) an issued and unexpired supplementary protection certificate or equivalent instrument, solely to the extent
that any such certificate or instrument is requested to be obtained by Gilead pursuant to Section 11.9; or [***].

 

“Vaxwave Technology
Platform” means [***].

 

1.2            Interpretation.
Headings used herein are for convenience only and shall not in any way affect the construction of or be taken into consideration in interpreting
this Agreement. The terms of this Agreement represent the results of negotiations between the Parties and their representatives, each
of which has been represented by counsel of its own choosing, and neither of which has acted under duress or compulsion, whether legal,
economic, or otherwise. Accordingly, the terms of this Agreement shall be interpreted and construed in accordance with the definitions
for such terms provided herein or, if no such definitions are provided, with their usual and customary meanings, and each of the Parties
hereby waives the application in connection with the interpretation and construction of this Agreement of any rule of Applicable Laws
to the effect that ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against
the Party whose attorney prepared the executed draft or any earlier draft of this Agreement. Any reference in this Agreement to an Article,
Section, subsection, paragraph, clause, Exhibit, or Schedule shall be deemed to be a reference to any Article, Section, subsection, paragraph,
clause, Exhibit, or Schedule, of or to, as the case may be, this Agreement. Except where the context otherwise requires: (a) any definition
of or reference to any agreement, instrument, or other document refers to such agreement, instrument, 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); (b) any reference to any Applicable Laws refers to such Applicable Laws as from time to time enacted, repealed, or
amended; (c) the words “herein”, “hereof”, and “hereunder”, and words of similar import, refer to
this Agreement in its entirety and not to any particular provision hereof; (d) the words “include”, “includes”,
and “including” shall be deemed to be followed by the phrase “but not limited to”, “without limitation”,
or words of similar import; (e) the word “or” is used in the inclusive sense (and/or), unless explicitly indicated otherwise
by the term “either/or”; (f) the singular shall include the plural, the plural the singular, the use of any gender shall
be applicable to all genders; (g) a “Party” includes its permitted assignees or the respective successors in title to substantially
the whole of its undertaking; and (h) the Exhibits and Schedules to this Agreement form part of the operative provision of this Agreement,
and references to this Agreement shall, unless the context otherwise requires, include references to the Exhibits and Schedules.

 

    16

     

    

 

2.            PROGRAMS

 

2.1            Goals.

 

(a)            HBV
Program. The objective of the HBV Program, as provided in the HBV Research Plan established under the Original Collaboration Agreement,
was and is to utilize the Hookipa Technologies to Research Lymphocytic Choriomeningitis Virus- and Pichinde Virus-based vectors suitable
for the Development, Manufacture, and Commercialization by Gilead, its Affiliates, or its sublicensees as HBV Licensed Products for the
treatment, cure, diagnosis, or prevention of HBV.

 

(b)           HIV
Program. The objective of the HIV Program, as provided in the HIV Research Plan established under the Original Collaboration Agreement
and the HIV Development Plan established under this Agreement, was and is to utilize the Hookipa Technologies to Research and Develop
Lymphocytic Choriomeningitis Virus- and Pichinde Virus-based vectors suitable for the further Development, Manufacture, and Commercialization
by Gilead, its Affiliates, or its sublicensees as HIV Licensed Products for the treatment, cure, diagnosis, or prevention of HIV.

 

(c)           Application
of Vectors to Antigens. The Programs shall include the application of certain Antigens to Lymphocytic Choriomeningitis Virus- and
Pichinde Virus-based vectors.

 

2.2             
Plans; Records; Reports; Payments.

 

(a)            Research Plans. During the Collaboration Term for each Program, each Party shall use Commercially Reasonable Efforts
to perform its obligations under the Research Plan for such Program. From time to time during the Collaboration Term for a Program, and
on at least an annual basis, the JSC shall review the then-current Research Plan for such Program for potential amendments. Each Party’s
JSC representatives shall consider in good faith all such amendments proposed by the other Party’s JSC representatives. Each JSC-approved
amended Research Plan shall become effective only upon approval by both Parties. Each Research Plan shall be consistent with the terms
of this Agreement and shall form a part of this Agreement. In the event of an inconsistency between a Research Plan and this Agreement,
the terms of this Agreement shall prevail. Each Research Plan shall be deemed the Confidential Information of each Party.

 

(b)           HIV
Development Plan. During the HIV Development Term, each Party shall use Commercially Reasonable Efforts to perform its obligations
under the HIV Development Plan for the HIV Development Program. From time to time during the HIV Development Term, and on at least an
annual basis, the JDC shall review the then-current HIV Development Plan for such Program for potential amendments. Each Party’s
JDC representatives shall consider in good faith all such amendments proposed by the other Party’s JDC representatives. Each JDC-approved
amended HIV Development Plan shall become immediately effective upon approval by the JDC without the need for further approval by both
Parties. Each HIV Development Plan shall be consistent with the terms of this Agreement and shall form a part of this Agreement. In the
event of an inconsistency between a HIV Development Plan and this Agreement, the terms of this Agreement shall prevail. Each HIV Development
Plan shall be deemed the Confidential Information of each Party.

 

(c)           Records.
Each Party shall prepare and maintain complete and accurate written records of all activities performed as well as results and data
obtained pursuant to its efforts under each Plan, in sufficient detail and in good scientific manner appropriate for patent and
regulatory purposes. In addition to the reporting obligations set forth herein, upon reasonable request of the other Party, each
Party shall grant to the other Party and its Affiliates reasonable, secured access (e.g., by remote web-access secured by
end-user identity and authentication solutions or by other means providing a comparable, sufficient level of data security) to all
data (including all primary data and data contained in laboratory notebooks) that is generated in the course of performance of the
Programs. Gilead and its Affiliates shall also have the right, at reasonable intervals and upon reasonable notice to Hookipa, to
have copies of such records made to use and transfer as permitted hereunder. Any data not otherwise contained in laboratory
notebooks and relevant to the Programs or to Licensed Technology shall be provided to Gilead upon reasonable request in a format
mutually agreed by the Parties. All such records shall be deemed the Confidential Information of each Party.

 

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(d)           Reporting. Each Party shall keep the other Party reasonably informed on the status, progress, and results of its
activities under each Plan through the regularly-scheduled JRC or JDC meetings described in Section 4.4(a). At least [***]
Business Days before each regularly-scheduled JRC or JDC meeting, each Party shall submit to the respective Joint Committee a written
summary (in the form of a slide deck or as otherwise reasonably determined by such Party) of the status, progress, and results of its
activities under the applicable Plan since its prior report. In its report to the JDC, each Party shall particularly include an update
on any key decisions, plans and timelines as well as regulatory and Manufacturing activities related to the HIV Development Program and,
in case of Gilead, any activities initiated by Gilead in accordance with Section 2.3(b)(ii)(B) for the HB-500 Program Candidates
(but not, for clarity, activities or information relating to any other drug or therapy even if the same relates to the Field of HIV and
is Developed for use in a Combination Product with an HIV Licensed Product). The respective Joint Committee shall review and discuss the
status, progress, and results of each Program. In addition, Hookipa shall provide Gilead with a final written report within [***] days
following the expiration or termination of the HBV Collaboration Term, which report shall summarize the Research activities undertaken
and all accomplishments achieved under the applicable HBV Research Plan and contain a copy of all results generated by Hookipa in the
performance of such HBV Research Plan. All such summaries and reports shall be deemed the Confidential Information of each Party.

 

(e)            Payments. Gilead shall reimburse Hookipa for certain costs and expenses relating to Hookipa’s performance under
the Plans to the extent set forth in, and in accordance with, Section 9.6.

 

2.3            Transition to Development of Licensed Product.

 

(a)            HBV
Licensed Products. Without limiting any other rights of Gilead under this Agreement, Gilead may, at any time during the HBV Collaboration
Term for a HBV Program, notify the JSC of its desire to initiate Development of a HBV Licensed Product in the Field in the Territory.
Effective upon the JSC’s approval thereof, such HBV Licensed Product shall be considered “Development-Ready” and shall
thereafter be outside the scope of the applicable HBV Program and subject to Development, Manufacture, and Commercialization by or on
behalf of Gilead, its Affiliates, or its sublicensees in accordance with this Agreement. Upon expiration or termination of the HBV Collaboration
Term, all HBV Licensed Products arising out of such HBV Program shall be considered “Development-Ready”, irrespective of
whether the JSC has formally approved such HBV Licensed Products as such.

 

(b)           HIV Licensed Products.

 

(i)             Effective
upon the Effective Date, (A) the HIV Collaboration Term of the HIV Collaboration Program shall terminate; and (B) Hookipa or one of its
Affiliates shall take over clinical development responsibility for the HIV Development Program until completion of the HIV Development
Plan. Within [***] weeks after completion of all Development activities under the HIV Development Plan, Hookipa shall provide Gilead
with the Option Exercise Data Package for the HIV Development Program. No later than [***] Business Days after receipt by Gilead of the
proposed Option Exercise Data Package, Gilead may notify Hookipa that Gilead considers the proposed Option Exercise Data Package to be
deficient or incomplete in any respect, in which case, in the event Hookipa agrees with Gilead’s determination (or it is determined
through the dispute resolution procedures in the immediately-following sentence) that an initially proposed or revised Option Exercise
Data Package is deficient or incomplete in any respect (i) Hookipa will promptly correct the deficiency or incompleteness, and (ii)
the Option Period will be tolled for the time period beginning on the date on which Gilead so notifies Hookipa and ending on the date
on which Hookipa has corrected the deficiency or incompleteness. In the event that Hookipa disagrees with Gilead’s determination
that an initially proposed or revised Option Exercise Data Package is deficient or incomplete in any respect, (x) Hookipa will promptly
notify Gilead of such disagreement in writing, (y) the Dispute shall be resolved as a Selected Dispute in accordance with Section 18.5,
except that any reference to [***] days in Section 18.5 shall for purposes of resolving such Selected Dispute be changed
to [***] Business Days, and (z) the Option Period will be tolled for the time period beginning on the date the Selected Dispute is referred
to the Alliance Managers pursuant to Section 18.5(a) (Initial Dispute Resolution Process) and ending on the date on which the
arbitrators deliver their decision (or earlier date on which the Parties are able to resolve such Selected Dispute). In addition, Gilead
may, within [***] Business Days after delivery of the proposed Option Exercise Data Package pursuant to this Section 2.3(b)(i),
request from Hookipa additional data, results or other information [***], in each case, that Gilead reasonably deems necessary to consider
for the purposes of determining whether to exercise the Option. Hookipa shall use reasonable efforts to provide any such data, results,
or information as promptly as practicable but no later than [***] Business Days following Gilead’s request therefor.

 

    18

     

    

 

(ii)            Notwithstanding
paragraph (i) above, during the Option Period, Gilead retains the right to (A) continue all activities already initiated by or on behalf
of Gilead under the Original Collaboration Agreement, and (B) initiate (directly or indirectly) new Research, Development and Manufacturing
activities, in each case at Gilead’s own cost, for the HB-500 Program Candidates. If Gilead initiates any new Research, Development
or Manufacturing activities for the HB-500 Program Candidates, Gilead shall keep Hookipa reasonably updated through the JDC in accordance
with Section 2.2(d), it being understood that the JDC shall have no decision-making authority with respect to any such activities.

 

2.4            Option.

 

(a)            Generally.
Gilead shall have the exclusive right to take back the Development rights for the HB-500 Program Candidates and to further Research,
Develop, and Commercialize such HB-500 Program Candidates as well as the HB-500 Program Products in accordance with the terms and conditions
of this Agreement (the “Option”). Gilead may exercise the Option at any time during the Option Period by written notice
to Hookipa (such date, the “Option Exercise Date”).

 

(b)           Option
Exercise. In the event that Gilead exercises the Option during the Option Period in accordance with Section 2.4(a):

 

(i)              all
HIV Licensed Products (including, for clarity, all HB-500 Program Candidates) included in the HIV Development Program shall be considered
 “Development-Ready” and shall thereafter be outside the scope of the HIV Development Program and subject to Development,
Manufacture, and Commercialization by or on behalf of Gilead, its Affiliates, or its sublicensees in accordance with this Agreement;
and

 

(ii)             Hookipa
shall promptly transfer to Gilead in accordance with Article 5 all Hookipa Know-How generated or used (copies of such Hookipa
Know-How used, but not generated, are acceptable) by or on behalf of Hookipa under the HIV Development Program.

 

(c)            Early Option Exercise. Without prejudice to Section 2.4(b), in the event that Gilead exercises the Option
during the Option Period in accordance with Section 2.4(a) prior to Gilead’s receipt of the Option Exercise Data Package
for the HIV Development Program:

 

(i)              Hookipa
shall remain entitled to and, as the case may be, shall not have to pay back to Gilead: (A) the Program Initiation Fee, the Program Completion
Fee and the FPFD in Phase 1 Clinical Trial Milestone; and (B) any other payments, including payments for the purchase of Hookipa equity,
payable to or received by Hookipa on or prior to the Option Exercise Date;

 

(ii)             Hookipa
will transition the Phase 1b Clinical Trial contemplated under the HIV Development Plan to Gilead as soon as reasonably possible after
the Option Exercise Date upon terms to be established by [***]. Gilead shall reimburse Hookipa at the FTE Rate for the documented costs
of any FTEs and Out-of-Pocket Costs reasonably incurred by Hookipa after the Option Exercise Date in relation to the continued performance
until transition to Gilead of such Phase 1b Clinical Trial within [***] days after Gilead’s receipt of an invoice therefor from
Hookipa; provided, that, notwithstanding the foregoing, if [***], then Gilead shall not have an obligation to reimburse such costs
and Hookipa shall be responsible for bearing such costs;

 

(iii)            Gilead’s obligation, if any, to make any further purchases of Hookipa equity under the Equity Agreement after the
date of Gilead’s exercise of the Option shall terminate.

 

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(d)           Option Not Exercised. In the event that Gilead decides not to exercise the Option and provides Hookipa with written
notice thereof during the Option Period, or the Option Period expires without Gilead notifying Hookipa of its decision in writing (the
earlier of such dates, the “Option Decline Date”):

 

(i)             this Agreement shall be deemed terminated by Gilead with respect to the HIV Development Program and all HIV Licensed Products
in accordance with Section 13.4(b); provided, that, unless otherwise set forth in this Section 2.4(d),
Section 14.1 shall be limited to paragraphs (a), (b), (c), (d), (f), (g) and (i) and paragraphs (e), (h) and (j) shall not
apply;

 

(ii)             the
 “Field” as defined in this Agreement shall be limited to “all uses, including treatment, cure, diagnosis or prevention,
in the indication HBV [***]” and shall no longer include the indication HIV, and the “Licensed Technology” as defined
in this Agreement shall no longer include Hookipa HIV Development Program Improvements except to the extent such Hookipa HIV Development
Program Improvements are necessary or reasonably useful to Research, Develop, Manufacture, and Commercialize HBV Licensed Products in
the Field in the Territory, in which case “Licensed Technology” as defined in this Agreement shall include such Hookipa HIV
Development Program Improvements solely with respect to HBV Licensed Products.

 

(iii)            Hookipa
or one of its Affiliates shall not be restricted pursuant to Article 3 below from independently undertaking further Research,
Development, Manufacturing, Commercialization and other exploitation of the HB-500 Program Candidates, the HB-500 Program Products, and
any other HIV Licensed Products alone, or with any Affiliates or Third Parties, it being understood that any grant of rights from Gilead
to Hookipa will be solely as set forth in Section 2.4(d)(iv) and, as the case may be, Section 2.4(d)(v) below;

 

(iv)            Gilead
hereby grants to Hookipa a milestone and/or royalty-bearing license, with the right to sublicense, under the Gilead Improvements and
Gilead Background Intellectual Property (and particularly including the Selected HIV Antigens), in each case, (A) Controlled by
Gilead as of the Option Decline Date, (B) actually used in the HIV Development Program, and (C) necessary or reasonably useful for
Hookipa or its Affiliates or sublicensees to Research, Develop, Manufacture, Commercialize or otherwise exploit the HB-500 Program
Candidates and HB-500 Program Products in the Field of HIV in the Territory (but excluding, for clarity, any Gilead Improvements or
Gilead Background Intellectual Property relating to an Other Product and not to any arenavirus vector(s) encoding one or more of the
Selected HIV Antigen(s) included in an HB-500 Program Candidate or HB-500 Program Product), solely to Research, Develop,
Manufacture, Commercialize or otherwise exploit the HB-500 Program Candidates and HB-500 Program Products in the Field of HIV. Such
license grant shall be exclusive solely with respect to (i) the HB-500 Program Candidates, and (ii) the HB-500 Program Products as
in existence on the Option Decline Date, and will be non-exclusive with respect to all other HB-500 Program Products (if any).

 

For clarity, any license grant under the Gilead
Improvements and Gilead Background Intellectual Property (including the Selected HIV Antigens) will be subject to Gilead’s retained
rights under such Gilead Improvements and Gilead Background Intellectual Property for its (or its Affiliates’ or sublicensees’)
Research, Development, Commercialization and exploitation efforts, including on any of its own programs or the programs of its partners,
collaborators and licensees.

 

Without limiting the existence and scope of the
license granted to Hookipa pursuant to sentence 1 of this Section 2.4(d)(iv) during the interim period until the Grant-Back
Agreement has been executed (it being understood that, once executed, the terms (including milestone and royalty obligations) of the Grant-Back
Agreement will apply retroactively with respect to such interim period), the Parties shall establish more comprehensive terms of such
license in a separate license agreement (the “Grant-Back Agreement”) to be negotiated and executed by the Parties as
soon as possible after the Option Decline Date in accordance with the timelines set forth in this Section 2.4(d)(iv). All
terms of the Grant-Back Agreement shall be commercially reasonable and determined by the Parties in good faith negotiations. The first
meeting to negotiate the Grant-Back Agreement shall be held between the Parties at the written request of either Party within [***]following
the Option Decline Date. In the event that the Parties do not mutually agree to the terms of such Grant-Back Agreement within [***] days
of the date of such first meeting, then at either Party’s request, such terms shall be determined in accordance with the Selected
Dispute procedures of Section 18.5; and

 

(v)             in
the event that, as of the Option Decline Date, Gilead Controls any other intellectual property rights [***] (“Other Gilead Intellectual
Property”), then at the written request of Hookipa submitted within [***] months following the Option Decline Date, the Parties
shall enter into good-faith discussions regarding a [***] license from Gilead to Hookipa, [***], under any such Other Gilead Intellectual
Property that would be granted by Gilead to Hookipa on [***]. The first good faith discussion of this kind shall be held promptly following
[***], on the basis of [***].

 

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3.            LICENSES; EXCLUSIVITY

 

3.1            License Grants.

 

(a)           Subject
to the terms and conditions of this Agreement, Hookipa hereby grants to Gilead, during the Term, a milestone- and royalty-bearing, transferrable
(pursuant to Section 18.1), sublicensable (pursuant to Section 3.2(a)) license, under the Licensed Technology, to:
(i) perform its activities under the Plans; and (ii) Research, Develop, Manufacture, and Commercialize Licensed Products in the Field
in the Territory. Without limiting the generality of the foregoing, the license granted by Hookipa to Gilead pursuant to this Section
3.1(a) shall, as applicable, be: (A) exclusive (even as to Hookipa and its Affiliates) with respect to Licensed Technology owned
by Hookipa or any of its Affiliates (including Hookipa HIV Development Program Improvements after Gilead has exercised the Option); (B)
exclusive (even as to Hookipa and its Affiliates) with respect to Licensed Technology that has been in-licensed by Hookipa or any of
its Affiliates from a Third Party on an exclusive basis; (C) non-exclusive (but exclusive as between Hookipa and its Affiliates, on the
one hand, and Gilead, on the other hand) with respect to Licensed Technology which has been in-licensed by Hookipa or any of its Affiliates
from a Third Party on a non-exclusive basis; and (D) co-exclusive as between Hookipa and its Affiliates, on the one hand, and Gilead,
on the other hand, with respect to Hookipa HIV Development Program Improvements before Gilead has exercised the Option. Following expiration
of the last-to-expire Royalty Term for a Licensed Product in a country, the licenses granted to Gilead under this Section 3.1(a)
with respect to such Licensed Product in such country shall continue in effect, but shall become fully paid-up, royalty-free, perpetual,
and irrevocable.

 

(b)           Subject
to the terms and conditions of this Agreement, Gilead hereby grants to Hookipa, during each Collaboration Term and the HIV Development
Term, a non-exclusive, royalty-free, transferrable (pursuant to Section 18.1), sublicenseable (pursuant to Section 3.2(c))
sublicense, under the Licensed Technology, and license under: (i) the Gilead Background Intellectual Property; and (ii) the Gilead Improvements,
in each case, solely to perform Hookipa’s activities under the applicable Plan.

 

3.2            Sublicensing and Subcontracting Rights.

 

(a)           Sublicensing
by Gilead. Subject to Section 3.6, Gilead may sublicense the rights granted by Hookipa under Section 3.1(a)
(including in multiple tiers) at any time to any Affiliates or Third Parties at its sole discretion and without approval of Hookipa;
provided, that: (i) where any such rights are in-licensed by Hookipa from a Third Party licensor and sublicensed hereunder, the
grant of such sublicense is permitted under the terms and conditions of the applicable Hookipa Third Party Agreement(s); (ii) Gilead
shall ensure that each of its Affiliates or any Third Party is bound by a written agreement that is consistent with and subject to the
applicable terms and conditions of this Agreement; (iii) Gilead shall remain responsible for the performance of this Agreement and shall
cause any such Affiliate or Third Party to comply with all applicable terms and conditions of this Agreement; and (iv) promptly following
the full execution of each sublicense agreement with a Third Party, Gilead shall provide Hookipa with a copy of each such sublicense
agreement, which copy may be redacted in order to prevent the disclosure of any information not reasonably necessary to confirm compliance
with this Agreement.

 

(b)           Subcontracting
by Gilead. Gilead may subcontract to Affiliates or Third Parties the performance of tasks and obligations reasonably related to Gilead’s
Research, Development, Manufacture, and Commercialization of Licensed Products hereunder as Gilead deems reasonably appropriate, which
subcontract may include a sublicense of rights necessary for the performance of the subcontract as reasonably required; provided,
that Gilead shall remain responsible for the performance of this Agreement and shall cause any such subcontractor to comply with all
applicable terms and conditions of this Agreement.

 

(c)           Subcontracting
by Hookipa. Hookipa may subcontract to Affiliates or Third Parties the performance of tasks and obligations of Hookipa hereunder
as Hookipa deems reasonably appropriate; provided, that:

 

(i)              Hookipa
shall obtain the JDC’s prior approval to subcontract the performance of tasks and obligations of Hookipa under the HIV Development
Plan to any [***];

 

(ii)             Hookipa
shall notify the JDC on a regular basis if it subcontracts the performance of tasks and obligations of Hookipa under the HIV Development
to any Third Party not specified in Section 3.2(c)(i) above. Such notification pursuant to this Section 3.2(c)(ii)
shall be made at least in every JDC meeting for subcontracts entered into by Hookipa and a Third Party since the prior JDC meeting,
and the JDC Co-Chairs shall maintain a list of all Third Party subcontractors so notified by Hookipa;

 

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(iii)            Hookipa shall obtain the JRC’s prior approval to subcontract the performance of tasks and obligations of Hookipa under
a Research Plan or otherwise under this Agreement other than tasks and obligations of Hookipa covered by Sections 3.2(c)(i)
and (ii) above; and

 

(iv)           notwithstanding
any other provisions of this Agreement, Hookipa shall not be required to obtain the prior approval of the JDC or, as the case may be,
Gilead to subcontract the performance of tasks and obligations of Hookipa under the HIV Development Plan to any Third Party listed on
Schedule 3.2(c) for the performance of the tasks and obligations allocated to such Third Party on Schedule 3.2(c).

 

Any subcontract contemplated
by this Section 3.2(c) may include a sublicense of rights necessary for the performance of the subcontract as reasonably required;
provided, that Hookipa shall remain responsible for the performance of this Agreement and shall cause any such subcontractor to
comply with all applicable terms and conditions of this Agreement.

 

3.3            Right of First Negotiation.

 

(a)           Subject to the terms and conditions of this Agreement, Hookipa hereby grants Gilead a right of first negotiation to extend
the license grant by Hookipa to Gilead under the Licensed Technology pursuant to Section 3.1(a) to all fields outside of the
Field.

 

(b)          
In the event that Hookipa elects to offer to one (1) or more Third Parties a license or other rights under the Licensed
Technology, which license or other rights would include the right to Research, Develop, Manufacture, or Commercialize any Licensed Product
in [***], then Hookipa shall provide Gilead with written notice thereof. Gilead may, within [***] days after receipt of such notice, notify
Hookipa in writing either that: (i) Gilead is interested in negotiating for such rights; or (ii) Gilead has no such interest and therefore
rejects such negotiation opportunity at such time. If Gilead notifies Hookipa within such [***]-day period that Gilead is interested in
negotiating with Hookipa for such rights, the Parties shall negotiate in good faith for up to [***] days from such notification by Gilead
regarding the terms pursuant to which Hookipa would license or otherwise grant such rights to Gilead. Failure by Gilead to give notice
of its interest or lack of interest in negotiating for such rights within the [***]-day period after receipt of the written notice from
Hookipa as described in the first sentence of this Section 3.3(b) shall be deemed to constitute a waiver by Gilead of its
right of first negotiation for such rights. If Gilead waives or otherwise fails to exercise its right of first negotiation for such rights
as provided in this Section 3.3, or if the Parties fail to agree on the terms pursuant to which Hookipa would license or otherwise
grant such rights to Gilead within such [***]-day negotiation period, then Hookipa shall be free to offer such rights to a Third Party
and enter into an agreement with a Third Party with respect thereto; provided, however, that for a period of [***] months
following the conclusion of the [***]-day negotiation period, Hookipa may not offer such rights to a Third Party on substantive terms
which are more favorable than those last offered to Gilead, unless such terms are first offered to Gilead and Gilead either: (x) declines
in writing to accept such terms; or (y) fails to accept such terms within [***] days of such offer. Such period of [***] months shall
be extended by [***] months to [***] months if, within [***] Business Days prior to the end of such [***]-month period, Hookipa provides
written notice to Gilead in reasonable detail demonstrating that Hookipa and such Third Party are in active, bona fide negotiations on
an agreement for such rights. If Hookipa does not, for any reason, enter into an agreement with a Third Party with respect to such rights
within such [***]-month or, as the case may be, [***]-month period, then Hookipa shall not be permitted to enter into any such agreement
without again complying with this Section 3.3.

 

(c)           The
right of first negotiation of Gilead pursuant to this Section 3.3 commenced on the Original Effective Date and will terminate
ten (10) years after the Original Effective Date.

 

(d)           For clarity, the right of first negotiation of Gilead pursuant to this Section 3.3 shall expressly exclude and
not apply to the field of HIV once HIV has ceased to be included in the Field in accordance with Section  2.4(d)(i), except
that such right of first negotiation shall continue to apply with respect to the offer of a license or other rights under the Licensed
Technology to a Third Party to Research, Develop, Manufacture, or Commercialize an HBV Licensed Product in the field of HIV.

 

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3.4            No Other Rights. Each Party expressly reserves and retains all Patent Rights, Know-How, or other intellectual
property rights not expressly granted herein, and no right or license under any Patent Rights, Know-How, or other intellectual property
rights of either Party is granted or shall be granted by implication. Except as otherwise expressly provided in this Agreement, neither
Party shall receive any rights under this Agreement to own, use, or access the Patent Rights, Know-How, or other intellectual property
rights of the other Party. For clarity, and notwithstanding any other provision of this Agreement, except as expressly provided in Section 2.4(d)
and Section 3.1(b), in no event shall Hookipa receive any right or license with respect to any Antigens provided or otherwise
made available by Gilead for use in the Programs.

 

3.5            Exclusivity. During the Term, Hookipa shall not itself, or with or through any of its Affiliates or any Third
Party, directly or indirectly, conduct, participate in, or fund any Research, Development, Manufacture, or Commercialization of or with
respect to products utilizing arenavirus-based vectors (including the Hookipa Technologies) for the treatment, cure, diagnosis, or prevention
of HBV or HIV, except in accordance with the performance of activities or otherwise expressly permitted under this Agreement, including
Section 2.4(d).

 

3.6            Certain Terms of Hookipa Third Party Agreements. To the extent that the license grant by Hookipa to Gilead under
the Licensed Technology pursuant to Section 3.1(a) constitutes the grant of a sublicense to Gilead of certain Licensed Technology
that is not owned by Hookipa or any of its Affiliates, but that is in-licensed by Hookipa or any such Affiliate from a Third Party licensor
on the basis of a Hookipa Third Party Agreement, then:

 

(a)           Gilead
acknowledges that the rights and licenses under, or with respect to, the Licensed Technology granted by Hookipa to Gilead under this
Agreement shall be no greater in scope than those granted by such Third Party to Hookipa; and

 

(b)           Gilead
shall comply, and shall cause its Affiliates and sublicensees to comply, with the specific obligations applicable to sublicensees under
such Hookipa Third Party Agreement listed on Schedule 9.5(a), as such Schedule 9.5(a) may be amended from time to time:
(i) in the event that any Hookipa Third Party Agreement is accepted by Gilead pursuant to Section 9.5(a); or (ii) upon mutual
agreement of the Parties to address any reasonable comments received from a Third Party licensor under any such Hookipa Third Party Agreement
(including any reasonable comments concerning the specific listing of obligations applicable to sublicensees under the relevant Hookipa
Third Party Agreement on Schedule 9.5(a)).

 

		4.	GOVERNANCE

 

4.1            Joint Steering Committee.

 

(a)           Formation.
The Parties shall continue to operate the joint steering committee established under the Original Collaboration Agreement (the “Joint
Steering Committee” or “JSC”), which JSC shall oversee the HBV Program and have such other responsibilities
as set forth in this Section 4.1 and elsewhere in this Agreement.

 

(b)           Membership.
The JSC shall consist of three (3) representatives from each of the Parties, each with the requisite experience and seniority to enable
such person to make decisions on behalf of such Party with respect to the issues falling within the jurisdiction of the JSC. From time
to time, each Party may substitute one (1) or more of its representatives on the JSC upon written notice to the other Party. Gilead shall
designate one (1) of its JSC representatives as one (1) of the co-chairpersons of the JSC, and Hookipa shall designate one (1) of its
representatives as the other co-chairperson of the JSC (each, a “JSC Co-Chair”). The JSC Co-Chairs, in consultation
with the Alliance Managers, shall have the following roles and responsibilities: (i) to call meetings, send notice of each such meeting,
and designate the time, date, and place of each such meeting; (ii) to convene or poll the representatives by other permitted means; and
(iii) to sign and date the final minutes of any meeting of the JSC.

 

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(c)           Specific
Responsibilities. During the HBV Collaboration Term with respect to the HBV Program, the JSC shall oversee the HBV Program, and shall
in particular:

 

(i)              be
responsible for resolving any disputes that arise in connection with the performance of the HBV Research Plan;

 

(ii)             consider any amendments to the HBV Research Plan, including any increase in the HBV Research Budget, in accordance with
Section 2.2(a);

 

(iii)           approve an HBV Licensed Product as Development-Ready, in accordance with Section 2.3(a);

 

(iv)           discuss the entry by Gilead into any agreement for rights to intellectual property owned or otherwise Controlled by a Third Party
which are necessary or useful in order to Research, Develop, Manufacture, or Commercialize an HBV Licensed Product, in accordance with
Section 9.5(c); and

 

(v)            discuss
whether an adjusted allocation of the payments for the various components of Licensed Technology is advisable, in accordance with Section
9.9(c);

 

provided that
the JSC shall have no decision-making authority with respect to any HBV Licensed Product that is Development-Ready.

 

(d)           Post-Collaboration Term. Upon expiration or termination of the HBV Collaboration Term, the JSC’s authority
with respect to the HBV Program and HBV Licensed Products arising therefrom shall terminate; provided, that, until the First Commercial
Sale of the first HBV Licensed Product with respect to the HBV Program (or at any earlier time, upon Gilead’s election in its sole
discretion), the JSC shall, upon Gilead’s request, continue to meet on a [***] basis (or more or less frequently, if mutually agreed
by the Parties) solely to serve as a forum for sharing and discussing information, as requested from time to time by Gilead, which is
relevant to the further Research, Development, Manufacture, and Commercialization of HBV Licensed Products for the HBV Program. For clarity,
during such period: (i) the JSC shall have no decision-making authority with respect to such HBV Program or HBV Licensed Products; and
(ii) Gilead may disband the JSC in its sole discretion.

 

(e)           Post-First
Commercial Sale. Unless earlier disbanded in accordance with Section 4.1(d), following the First Commercial Sale of the
first HBV Licensed Product with respect to the HBV Program, the JSC shall immediately be disbanded with respect to such Program.

 

4.2             Joint Research Committee.

 

(a)           Formation.
The Parties shall continue to operate the joint research committee established under the Collaboration Agreement (the “Joint
Research Committee” or “JRC”), which JRC shall have the responsibilities as set forth in this Section 4.2
and elsewhere in this Agreement.

 

(b)           Membership. The JRC shall consist of three (3) representatives from each of the Parties, each with the requisite
experience and seniority to enable such person to make decisions on behalf of such Party with respect to the issues falling within the
jurisdiction of the JRC. From time to time, each Party may substitute one (1) or more of its representatives on the JRC upon written notice
to the other Party. Gilead shall designate one (1) of its JRC representatives as one (1) of the co-chairpersons of the JRC, and Hookipa
shall designate one (1) of its representatives as the other co-chairperson of the JRC (each, a “JRC Co-Chair”). The
JRC Co-Chairs, in consultation with the Alliance Managers, shall have the following roles and responsibilities: (i) to call meetings,
send notice of each such meeting, and designate the time, date, and place of each such meeting; (ii) to convene or poll the representatives
by other permitted means; and (iii) to sign and date the final minutes of any meeting of the JRC.

 

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(c)           Specific
Responsibilities. During the HBV Collaboration Term with respect to the HBV Program, the JRC shall: (i) review the Parties’
Research activities under such Program; (ii) provide guidance with respect to such Program; (iii) review and discuss the results, status,
and progress of such Program, in accordance with Section 2.2(d); and (iv) approve Hookipa’s use of Third Party subcontractors,
in accordance with Section 3.2(c)(iii).

 

(d)           Post-Collaboration
Term. From and after the end of the HBV Collaboration Term, the JRC shall immediately be disbanded.

 

4.3            Joint Development Committee.

 

(a)           Formation.
Promptly after the Effective Date, the Parties shall establish a joint development committee (the “Joint Development Committee”
or “JDC”), which JDC shall have the responsibilities as set forth in this Section 4.3 and elsewhere in
this Agreement.

 

(b)           Membership. The JDC shall consist of two (2) representatives from each of the Parties, each with the requisite experience
and seniority to enable such person to make decisions on behalf of such Party with respect to the issues falling within the jurisdiction
of the JDC. From time to time, each Party may substitute one (1) or more of its representatives on the JDC upon written notice to the
other Party. Gilead shall designate one (1) of its JDC representatives as one (1) of the co-chairpersons of the JDC, and Hookipa shall
designate one (1) of its representatives as the other co-chairperson of the JDC (each, a “JDC Co-Chair”). The JDC Co-Chairs,
in consultation with the Alliance Managers, shall have the following roles and responsibilities: (i) to call meetings, send notice of
each such meeting, and designate the time, date, and place of each such meeting; (ii) to convene or poll the representatives by other
permitted means; and (iii) to sign and date the final minutes of any meeting of the JDC.

 

(c)            Specific
Responsibilities. During the HIV Development Term with respect to the HIV Development Program, the JDC shall:

 

(i)              review
the Parties’ Development activities under such Program;

 

(ii)             provide a forum for the Parties to discuss and monitor activities and communications
regarding the Phase 1b Clinical Trial contemplated under the HIV Development Plan;

 

(iii)            review
any amendments and approve any material amendments to the HIV Development Plan;

 

(iv)           review and approve the protocol for the Phase 1b Clinical Trial contemplated under the HIV Development Plan and any non-administrative
amendments to the protocol;

 

(v)            review and approve (A) the IND for the Phase 1b Clinical Trial contemplated under the HIV Development Plan as well as all
other Regulatory Filings in relation thereto; (B) informed consent forms for such Phase 1b Clinical Trial; (C) material changes to the
master template informed consent form included in the HIV Development Plan; and (D) template case report form used in such Phase 1b Clinical
Trial;

 

(vi)           review
and discuss in relation to such Phase 1b Clinical Trial: (A) study data (including patient safety data); (B) medical monitoring
plans; and (C) site audit plans and results;

 

(vii)          establish terms upon which [***];

 

(viii)         provide guidance with respect to such Program;

 

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(ix)            review and discuss the results, status, and progress of such Program, in accordance with Section 2.2(d);

 

(x)             monitor Hookipa’s use of Third Party subcontractors in accordance with Section 3.2(c)(ii) and approve
Hookipa’s use of Third Party subcontractors in accordance with Section 3.2(c)(i); and

 

(xi)            make any other decisions or approvals regarding the HIV Development Program expressly assigned to it under this Agreement.

 

(d)            
Post-Development Term. From and after the end of the HIV Development Term, the JDC shall immediately be disbanded.

 

4.4            Joint Committee General Provisions.

 

(a)            Meetings
and Minutes. Unless otherwise agreed by the Parties, (i) during the Collaboration Term for each Program, the JSC shall meet [***]
and the JRC shall meet [***] to address matters within its jurisdiction with respect to such Program, and (ii) during the [***] of the
HIV Development Term for the HIV Development Program, the JDC shall meet [***] and, thereafter, [***] to address matters within its jurisdiction
with respect to such Program. Meetings of any Joint Committee may be held in person or by audio or video teleconference; provided,
that unless otherwise agreed by the Parties, the location of any such in-person meetings shall alternate between locations designated
by Gilead and locations designated by Hookipa. The applicable Joint Committee Co-Chairs shall be responsible for scheduling meetings
within the intervals set forth in sentence 1 of this Section 4.4(a) and setting agendas based on the input of each Party.
The applicable Joint Committee Co-Chairs shall prepare and circulate for review and approval of the Parties minutes of each meeting promptly
after the meeting. The Parties shall agree on the minutes of each meeting promptly, but in no event later than the next meeting of the
applicable Joint Committee.

 

(b)           Procedural Rules. Each Joint Committee shall have the right to adopt such standing rules as shall be necessary for
its work to the extent that such rules are not inconsistent with this Agreement. A quorum of a Joint Committee shall exist whenever there
is present at a meeting at least two (2) representatives appointed by each Party; provided, that if a meeting of the JDC has to
be adjourned for lack of quorum, a new meeting of such Joint Committee shall take place no later than [***] Business Days following the
adjourned meeting and, [***]. Each Joint Committee shall take action by consensus of the representatives present at a meeting at which
a quorum exists, with each Party having a single vote irrespective of the number of representatives of such Party in attendance, or at
any time (during or between meetings) by a written resolution or otherwise in writing signed by at least two (2) representatives appointed
by each Party. Employees or consultants of either Party that are not representatives of the Parties on a Joint Committee may attend meetings
of such Joint Committee; provided, however, that such attendees: (i) shall not vote or otherwise participate in the decision-making
process of the Joint Committee; (ii) shall not be counted when determining whether a quorum exists at any such meeting; and (iii) shall
be bound by obligations of confidentiality and non-disclosure equivalent to those set forth in Article 12. A Party’s
representative on a Joint Committee may also serve as such Party’s representative on one or more other Joint Committees; provided,
that such representative has the requisite experience and seniority to enable such person to make decisions on behalf of such Party with
respect to the issues falling within the jurisdiction of the relevant Joint Committee.

 

4.5            Dispute Resolution.

 

(a)           JSC. If, after reasonable discussion and good faith consideration of each Party’s view on a particular matter
before the JSC and within the scope of its authority, the representatives of the Parties on the JSC cannot reach consensus as to such
matter in accordance with Section 4.4(b) within [***] Business Days after such matter was brought to the JSC for resolution
or after such matter has been referred to the JSC in accordance with Section 4.5(b), then either Party may refer such disagreement
to the Senior Officers for resolution. If the Senior Officers cannot resolve such matter within [***] Business Days after such matter
has been referred to them in accordance with this Section 4.5(a), then [***]. Notwithstanding the foregoing, [***] shall have
the final decision-making authority, during [***], with respect to [***]; provided, that [***]. If the Parties are unable to reach
such mutual agreement within [***] days after the Parties initiate discussions, then either Party may escalate the matter to the Parties’
Senior Officers for resolution in accordance with Section 18.5(a). If the Senior Officers cannot resolve such matter in accordance
with Section 18.5(a), then [***]. For clarity, each supply agreement entered into pursuant to Section 7.2 shall
detail the Parties’ respective final decision-making authority with respect to all matters that specifically relate to Manufacturing
of any applicable Licensed Product(s) covered by such supply agreement.

 

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(b)            JRC.
If, after reasonable discussion and good faith consideration of each Party’s view on a particular matter before the JRC and within
the scope of its authority, the representatives of the Parties on the JRC cannot reach consensus as to such matter in accordance with
Section 4.4(b) within [***] Business Days after such matter was brought to the JRC for resolution, then such disagreement
shall be referred to the JSC for resolution pursuant to Section 4.5(a).

 

(c)            JDC.
If, after reasonable discussion and good faith consideration of each Party’s view on a particular matter before the JDC and
within the scope of its authority, the representatives of the Parties on the JDC cannot reach consensus as to such matter in
accordance with Section 4.4(b) within [***] Business Days after such matter was brought to the JDC for resolution, then
such disagreement shall not be referred to the JSC for resolution pursuant to Section 4.5(a) but, instead, either Party
may refer such disagreement to the Senior Officers for resolution. If the Senior Officers cannot resolve such matter within [***]
Business Days after such matter has been referred to them in accordance with this Section 4.5(c), then [***] shall have
a tie-breaking vote for any decision or approval to be made by the JDC, except that [***] approval (not unreasonably to be withheld,
conditioned or delayed) will be required: [***].

 

(d)           Limitations on Authority. Each Party shall retain the rights, powers, and discretion granted to it under this Agreement,
and no such rights, powers, or discretion shall be delegated to or vested in a Joint Committee unless such delegation or vesting of rights,
powers, or discretion is expressly provided for in this Agreement or the Parties expressly so agree in writing. No Joint Committee shall
have the power to amend, modify, or waive compliance with this Agreement, which may only be amended, modified, or waived as provided in
Section 18.7.

 

4.6            Alliance Managers. Each Party shall retain one (1) senior representative appointed under the Original Collaboration
Agreement and having a general understanding of vaccine Research, Development, and Commercialization to act as its alliance manager under
this Agreement (each, an “Alliance Manager”). The Alliance Managers shall serve as the contact point between the Parties
and will be primarily responsible for facilitating the flow of information and otherwise promoting communication, coordination, and collaboration
between the Parties, including: (a) facilitating periodic communications between the Parties in connection with the Parties’ reporting
requirements; (b) providing single-point communication for seeking consensus both internally within the respective Party’s organization
and together regarding key global strategy and planning issues, as appropriate, including facilitating review of external corporate communications;
(c) raising cross-Party or cross-functional disputes in a timely manner; and (d) consulting with: (i) the JSC Co-Chairs, in accordance
with Section 4.1(b), (ii) the JRC Co-Chairs, in accordance with Section 4.2(b), and (iii) the JDC Co-Chairs, in
accordance with Section 4.3(b). Each Alliance Manager may be member of a Joint Committee and vice versa; provided,
that such Alliance Manager has the requisite experience and seniority to enable such person to make decisions on behalf of such Party
with respect to the issues falling within the jurisdiction of the relevant Joint Committee. From time to time, each Party may substitute
its Alliance Manager at any time upon written notice to the other Party.

 

4.7            Costs of Governance. The Parties agree that the costs incurred by each Party in connection with its participation
at any meetings under this Article 4 shall be borne solely by such Party.

 

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		5.	TECHNOLOGY TRANSFERS

 

5.1            Disclosure of Know-How.

 

(a)            Generally. To the extent not already provided prior to the Effective Date, each Party shall promptly provide to the
other Party access to all documents and materials containing the Hookipa Know-How and Know-How included within the Gilead Background Intellectual
Property or Gilead Improvements as shall be reasonably requested by the other Party and as necessary or useful to exercise its rights
or fulfill its obligations under this Agreement, including to undertake the activities assigned to it under a Plan, the activities of
Gilead in connection with the Development, Manufacture, and Commercialization of Licensed Products, and the activities of Hookipa in connection
with the Development, Manufacture, and Commercialization of HB-500 Program Candidates and HB-500 Program Products, except for any Hookipa
Know-How relating to the Manufacture of Licensed Products and addressed in Section 7.5.

 

(b)           Upon
Option Exercise. Upon exercise of the Option, Hookipa shall, as soon as reasonably practical after receipt of notice of Option
exercise, transfer to Gilead (i) copies of or provide access to (if copies cannot reasonably be made) all Hookipa Know-How to the extent
related to the Development and Commercialization (but not Manufacture, which is addressed in Section 7.5) of HB-500 Program
Candidates and HB-500 Program Products and (ii) all Samples. Such Know-How may include reports, regulatory materials (including any INDs
or other Regulatory Filings if permitted to be filed by Hookipa hereunder), manufacturing protocols, toxicology data, quality assurance
and quality control assays, contracts with contract research or manufacturing organizations, materials, assays, methods, data and results
generated by or on behalf of Hookipa or any of its Affiliates pursuant to this Agreement with respect to the HB-500 Program Candidates
and HB-500 Program Products. The transfer contemplated by this Section 5.1(b) will be conducted in accordance with a technology
transfer plan and in a format to be mutually agreed by the Parties. Except to the extent inconsistent with the immediately preceding
sentence, sentences 2, 3 and 4 of Section 5.4 shall apply accordingly.

 

5.2            Consultation and Assistance. Unless otherwise agreed
by the Parties, the Party granting such access pursuant to Section 5.1 shall further provide reasonable consultation and assistance
to the other Party for the purpose of transferring the respective Know-How to the other Party to the extent necessary or useful for the
purposes set forth in Section 5.1. The Parties agree that each Party shall provide such reasonable consultation and assistance
to the other Party free of charge, it being understood that such free consultation and assistance provided by one (1) Party to the other
Party under this Agreement and the Original Collaboration Agreement shall not exceed a total amount of [***] hours
of work. Any consultation and assistance exceeding such cap shall be charged by the Party providing such consultation and assistance to
the other Party at the FTE Rate (in the case of Hookipa providing consultation and assistance) or in accordance with its standard intercompany
rates (in the case of Gilead providing consultation and assistance). Any consultation and assistance to be provided, if provided in person
at the other Party’s facilities or any other place as may be mutually agreed by the Parties, shall be provided subject to the payment
of reasonable and documented travel and living expenses associated with the provision of such consultation and assistance by the Party
granting such access.

 

5.3            Materials Transfer. From time to time during the Term, at the reasonable request of Gilead, Hookipa shall provide
to Gilead or its designated Affiliate reasonable quantities of any biological materials generated by use of the Licensed Technology in
Hookipa’s possession and Control as required by Gilead in connection with activities under this Agreement. Gilead shall reimburse
Hookipa at the FTE Rate for the documented costs of any FTEs and Out-of-Pocket Costs reasonably incurred by Hookipa for the manufacturing
or supply of such biological materials by Hookipa within [***] days after Gilead’s receipt of an invoice therefor from Hookipa.

 

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5.4            Regulatory Transfer. On a Development-Ready Licensed Product-by-Development-Ready Licensed Product basis, promptly
following the JSC’s approval of such HBV Licensed Product as Development-Ready in accordance with Section 2.3 or, as
the case may be, Gilead’s exercise of the Option with respect to HIV Licensed Products in accordance with Section 2.4(a),
Hookipa shall, and hereby does, assign and transfer to Gilead (or Gilead’s designee) all of Hookipa’s right, title, and interest
in and to all Regulatory Approvals, Regulatory Filings, and related submissions, if any, owned by Hookipa or its Affiliates that relate
to such Development-Ready Licensed Product, including any IND filed by Hookipa with respect to such Development-Ready Licensed Product,
as well as copies of all results generated by or on behalf of Hookipa
during its performance of the applicable Program relating to such Development-Ready Licensed Product and not already provided under Section 5.1(b).
Gilead shall reimburse Hookipa and its Affiliates for their reasonable Out-of-Pocket Costs attributable to such assignment and transfer.
Hookipa’s obligation to disclose and transfer such Development and regulatory data pursuant to this Section 5.4 is limited
to the disclosure of the data, information, and reports in the form, format, and quality as reasonably available to Hookipa; in no event
shall Hookipa be obliged to translate, summarize, re-arrange, re-format, compile, correct, enhance, evaluate, interpret, or otherwise
undertake secondary review of any such Development or regulatory data and any such activities, if required for the Development, Manufacture,
or Commercialization of Licensed Products in the Field in the Territory, shall be the sole responsibility of Gilead. If Hookipa, upon
request of Gilead, agrees to perform such activities, Hookipa shall be reimbursed for the internal costs thereof by Gilead at
the FTE Rate.

 

		6.	DEVELOPMENT AND REGULATORY MATTERS

 

6.1            Development.
From and after the date that a Licensed Product becomes Development-Ready, Gilead shall be solely responsible for conducting all Development
activities with respect to such Licensed Product, [***].

 

6.2            Development Reports. From and after the date that a Licensed Product becomes Development-Ready, Gilead shall
provide to Hookipa within [***] days after the end of each Calendar Year a written report which summarizes [***]. Each report shall be
compiled and reported in English and shall be the Confidential Information of Gilead. If, within [***] days of Hookipa’s receipt
of a written report pursuant to this Section 6.2, Hookipa provides Gilead written notice that it wishes to discuss such written
report, then Gilead shall make available to Hookipa, [***].

 

6.3            Development Diligence.

 

(a)            HBV Licensed Products. Beginning at such time as the first HBV Licensed Product becomes Development-Ready, Gilead
shall itself, or through its Affiliates or sublicensees, use Commercially Reasonable Efforts to Develop for purposes of achieving Regulatory
Approval [***] HBV Licensed Product in: [***].

 

(b)           HIV
Licensed Products. Beginning at such time as the first HIV Licensed Product becomes Development-Ready, Gilead shall itself, or through
its Affiliates or sublicensees, use Commercially Reasonable Efforts to Develop for purposes of achieving Regulatory Approval [***] HIV
Licensed Product in: [***].

 

(c)            Gilead’s Discretion. For clarity, subject to compliance with the foregoing in this Section 6.3,
the Development of Licensed Products shall be in Gilead’s sole discretion.

 

6.4            Regulatory.

 

(a)           HBV
Licensed Products and HIV Licensed Products not included in the HIV Development Program.

 

(i)              General Responsibility. From and after the Effective Date, as between the Parties, Gilead shall be responsible for:
(A) preparing and submitting to applicable Regulatory Authorities all Regulatory Filings, including INDs, for HBV Licensed Products and,
as the case may be, HIV Licensed Products not included in the HIV Development Program; (B) obtaining and maintaining all Regulatory Approvals
for such Licensed Products; and (C) conducting communications with the Regulatory Authorities for such Licensed Products.

 

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(ii)              Communication
with Regulatory Authorities. Gilead shall have the exclusive right to correspond or communicate with Regulatory Authorities
regarding the HBV Licensed Products and, as the case may be, HIV Licensed Products not included in the HIV Development Program and
other regulatory matters under this Agreement regarding such Licensed Products. Unless required by Applicable Law, Hookipa, its
Affiliates, and its permitted subcontractors shall not correspond or communicate with Regulatory Authorities regarding any such
Licensed Product without first, in each case, obtaining Gilead’s prior written consent, either during or after the applicable
Collaboration Term for a Program concerning such Licensed Products; provided, that, upon Gilead’s request, Hookipa or
its Affiliates shall attend any meeting with a Regulatory Authority regarding any such Licensed Product. If Hookipa, its Affiliates,
or its permitted subcontractors receive any correspondence or other communication from a Regulatory Authority regarding any such
Licensed Product, Hookipa shall provide Gilead with access to or copies of all such material written or electronic correspondence
promptly after its receipt.

 

(b)            
HIV Licensed Products included in the HIV Development Program.

 

(i)              General
Responsibility. From and after the Effective Date until the later of (A) expiration of the HIV Development Term, or (B) Hookipa ceasing
to be the sponsor of the Phase 1b Clinical Trial contemplated under the HIV Development Plan, as between the Parties, Hookipa shall be
responsible for: (i) preparing and submitting to applicable Regulatory Authorities all
Regulatory Filings, including INDs, for HIV Licensed Products included in the HIV Development Program; and (II) conducting communications
with the Regulatory Authorities for such HIV Licensed Products. Thereafter, in the event that Gilead exercises the Option, as between
the Parties, Gilead shall be responsible for: (a) preparing and submitting to applicable Regulatory Authorities all Regulatory Filings,
including INDs, for such HIV Licensed Products; (b) obtaining and maintaining all Regulatory Approvals for such HIV Licensed Products;
and (c) conducting communications with the Regulatory Authorities for such HIV Licensed Products.

 

(ii)            Communication
with Regulatory Authorities. From and after the Effective Date until the later of (A) expiration of the HIV Development Term, or
(B) Hookipa ceasing to be the sponsor of the Phase 1b Clinical Trial contemplated under the HIV Development Plan: (I) Hookipa shall have
the exclusive right to correspond or communicate with Regulatory Authorities regarding the HIV Licensed Products included in the HIV
Development Program and other regulatory matters under this Agreement regarding such HIV Licensed Products; (II) unless required by Applicable
Law, Gilead, its Affiliates, and its permitted subcontractors shall not correspond or communicate with Regulatory Authorities regarding
any such HIV Licensed Product without first, in each case, obtaining Hookipa’s prior written consent; provided, that, upon
Hookipa’s request, Gilead or its Affiliates shall attend any meeting with a Regulatory Authority regarding any such Licensed Product;
and (III) if Gilead, its Affiliates, or its permitted subcontractors receive any correspondence or other communication from a Regulatory
Authority regarding any such Licensed Product, Gilead shall provide Hookipa with access to or copies of all such material written or
electronic correspondence promptly after its receipt. Thereafter, in the event that Gilead exercises the Option and unless otherwise
required by Applicable Law, Section 6.4(a)(ii) shall apply with respect to such HIV Licensed Products.

 

(c)           Support
by Hookipa. As between the Parties, during the HBV Collaboration Term, Hookipa shall be responsible for preparing all non-clinical
and CMC reports, in each case, as reasonably required by Gilead for inclusion in any IND filing for an HBV Licensed Product arising from
the HBV Program. Hookipa shall prepare all such reports, and provide Gilead with copies of any such reports, in each case, in a timely
manner to permit Gilead to make such IND filings without delay. Without limiting the foregoing, Hookipa shall support Gilead as may be
reasonably necessary in connection with Gilead’s preparation of Regulatory Filings under the HBV Program during the HBV Collaboration
Term. Gilead shall reimburse Hookipa for the documented costs of any FTEs (at the FTE Rate) and Out-of-Pocket Costs reasonably incurred
by Hookipa in carrying out such preparation and support activities pursuant to and in accordance with Section 9.6(a).

 

(d)           Ownership. Subject to Section 14.1(g), all Regulatory Filings generated under this Agreement, including
in the course of the Programs, shall be owned by and held in the name of Gilead or its designee, provided, that all Regulatory
Filings generated in the course of the conduct of the HIV Development Program shall be owned by and held in the name of Hookipa or its
designee until the Option Exercise Date, at which time Hookipa shall promptly assign and transfer in accordance with Applicable Law, all
of its rights, title and interest in and to such Regulatory Filings to Gilead, and such Regulatory Filings shall thereafter be owned by
and held in the name of Gilead or its designee.

 

(e)           Exceptions for HIV Licensed Products Developed by Hookipa. Exceptions to the provisions set forth in Sections 6.4(a)
through 6.4(d) may be provided for in the HIV Development Plan or otherwise be agreed between the Parties at any time in writing.

 

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6.5            Pharmacovigilance.
Prior to the [***], the Parties shall agree upon and implement a procedure for the mutual exchange of adverse event reports and safety
information associated with the Licensed Products. Details of the operating procedure respecting such adverse event reports and safety
information exchange shall be the subject of a mutually-agreed written pharmacovigilance agreement between the Parties which shall be
entered into within the same period.

 

6.6            Compliance. Each Party agrees that in performing its obligations under this Agreement, it: (a) shall comply
with all Applicable Law, including applicable current international regulatory standards, such as GMP, GLP, GCP, and other rules, regulations,
and requirements; and (b) shall not employ or use any person that has been debarred under Sections 306(a) or 306(b) of the U.S. Federal
Food, Drug and Cosmetic Act (the “FDCA”).

 

6.7            Regulatory Notices. In the event that: (a) based on the results of an audit or inspection by a Regulatory Authority
of any facility of a Party (including its contract research or manufacturing organizations, subject to the terms of such Party’s
contract with such contract research or manufacturing organizations) involved in the Research, Development, or Manufacture of a Licensed
Product, a Regulatory Authority notifies such Party in writing of a finding; or (b) a Regulatory Authority takes, or gives notice in writing
of its intent to take, any regulatory action with respect to any activity of a Party, in each case ((a) or (b)), which finding or action
would reasonably be expected to have a material adverse effect on any activities under any Plan or the Research, Development, Manufacture,
or Commercialization of a Licensed Product, such Party shall promptly notify the other Party thereof and provide a copy of such notice
or summary of such action taken, as applicable. Such notice, finding, action, and all information related thereto shall constitute the
Confidential Information of the disclosing Party. Notwithstanding the foregoing: (i) if such Party determines that it may be required
by Applicable Law to make a public disclosure of such notice, finding, or action, then the disclosure obligations under this Section 6.7
shall be tolled until such public announcement has been made or such Party determines that such a public disclosure is not required; and
(ii) this Section 6.7 shall terminate and be of no further force or effect, on a Licensed Product-by-Licensed Product basis,
following First Commercial Sale of such Licensed Product.

 

		7.	MANUFACTURING

 

7.1            Hookipa Supply. Hookipa shall, directly or through a contract manufacturing organization reasonably acceptable
to Gilead, Manufacture and supply Lymphocytic Choriomeningitis Virus- and Pichinde Virus-based vectors and each Licensed Vaccine to the
extent necessary for (a) the Parties to carry out their respective Research activities under the Research Plans; and (b) Hookipa to carry
out its Development activities under the HIV Development Plan.

 

7.2            Supply Agreement. In accordance with Section 7.2 of the Original Collaboration Agreement, Hookipa and Gilead
have entered into the Clinical Supply Agreement and the corresponding Quality Agreement under which Hookipa will supply Gilead with certain
Licensed Products for use in IND-Enabling Studies and Gilead’s post-IND development activities under the Original Collaboration
Agreement through completion of the first Proof of Concept Clinical Trial for such products and potentially thereafter as mutually agreed
by the Parties in writing; provided, that any supply of such products [***]. The cost of such supply to Gilead is set forth in
the Research Budget included in the applicable Research Plan and Hookipa’s incurrence of such cost is subject to Gilead’s
reimbursement obligations set forth in the Clinical Supply Agreement, including Article 6 of the Clinical Supply Agreement.

 

7.3           Manufacturing.
Subject to Sections 7.1 and 7.2 and the Parties’ rights and responsibilities in connection with the Programs
as provided in the Research Plans and the HIV Development Plan, Gilead and its Affiliates or its designated sublicensees shall be solely
responsible, [***], for the Manufacture of the HBV Licensed Products being Developed or Commercialized under this Agreement and for the
Manufacture of any HIV Licensed Products being Developed or Commercialized by Gilead (or its Affiliates or sublicensees) under this Agreement,
but not for the Manufacture of any HIV Licensed Products for Development or Commercialization by Hookipa (or its Affiliates or sublicensees).

 

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7.4            Manufacturing Know-How and Assistance. In addition to its obligations under Section 7.2, during the
Term, Hookipa shall fully cooperate with and provide assistance to Gilead or its designee, through documentation, consultation, and face-to-face
meetings, to enable Gilead or its designee, in an efficient and timely manner, to proceed with Manufacturing of the Licensed Products
and to obtain all appropriate Regulatory Approvals for Manufacturing of Licensed Products. Gilead shall reimburse Hookipa at the FTE Rate
for the documented costs of any FTEs and Out-of-Pocket Costs reasonably incurred by Hookipa in carrying out such support activities and
assistance within [***] days after Gilead’s receipt of an invoice therefor from Hookipa.

 

7.5            Subsequent Manufacturing Technology Transfer. Without limiting the obligations of Hookipa under Article 2
or Section 5.1(b), no later than [***] months prior to the completion of the first Proof of Concept Clinical Trial for a Licensed
Product (or earlier, at Gilead’s option), Hookipa shall: (a) provide access to Gilead or its designee to copies of all Hookipa Know-How
and other Know-How as of the date of transfer that is necessary or reasonably useful for Gilead, or its designee, to Manufacture such
Licensed Product; and (b) assign (to the extent requested by Gilead) to Gilead any contract manufacturing agreements with any Third Party
contract manufacturer relating to such Licensed Product; provided, that, to the extent the services provided under any contract
manufacturing agreements existing and in effect as of the Effective Date are also for products other than such Licensed Product, Hookipa
shall use Commercially Reasonable Efforts to promptly amend or otherwise modify such agreements so that such agreements can be assigned
to Gilead as contemplated hereunder. In addition, upon written request of Gilead, Hookipa shall provide to Gilead or its designee consultation
and technical assistance as reasonably requested for Gilead to Manufacture, itself or through a Third Party, such Licensed Product. Gilead
shall reimburse Hookipa at the FTE Rate for the documented costs of any FTEs and Out-of-Pocket Costs reasonably incurred by Hookipa in
carrying out such transfer(s), consultation, and assistance within [***] days after Gilead’s receipt of an invoice therefor from
Hookipa.

 

		8.	COMMERCIALIZATION

 

8.1            Commercialization. From and after the Effective Date, Gilead shall be solely responsible for Commercializing
Licensed Products, [***].

 

8.2            Commercialization Diligence.

 

(a)           HBV Licensed Products. Gilead shall itself, or through its Affiliates or sublicensees, use Commercially Reasonable
Efforts to Commercialize following Regulatory Approval [***] HBV Licensed Product in the Field in: [***].

 

(b)           HIV Licensed Products. Gilead shall itself, or through its Affiliates or sublicensees, use Commercially Reasonable
Efforts to Commercialize following Regulatory Approval [***] HIV Licensed Product in the Field in: [***].

 

(c)            Gilead’s
Discretion. For clarity, subject to compliance with the foregoing in this Section 8.2, the Commercialization of the Licensed
Products shall be in Gilead’s sole discretion.

 

		9.	FINANCIAL PROVISIONS

 

9.1            Upfront Payment. In consideration of the licenses and rights granted to Gilead under the Original Collaboration
Agreement, Gilead has paid to Hookipa a non-refundable, non-creditable, one (1)-time upfront payment of Ten Million USD ($10,000,000)
within [***] days after the Original Effective Date.

 

9.2            Milestone Payments. In further consideration of the Research and Development activities performed by or on behalf
of Hookipa and the licenses and rights granted to Gilead hereunder (subject to the allocation set forth in Section 9.9), the
following Milestone Payments shall become due and payable by Gilead to Hookipa in accordance with the following terms and conditions.
All payments to be made pursuant to this Section 9.2 shall be made as provided in Article 10.

 

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(a)           HBV Pre-Clinical Milestones.

 

(i)              Prior
to the Effective Date, following Hookipa’s delivery to Gilead of [***], in each case, in compliance with the HBV Research Plan,
Gilead has paid Hookipa the corresponding milestone payments for the achievement of such Milestone.

 

(ii)             Prior
to the Effective Date, Gilead has paid Hookipa a one (1)-time payment of [***] after the first HBV Licensed Product obtained [***]. The
Parties acknowledge and agree that such Milestone has been achieved.

 

(b)            
HIV Pre-Clinical Milestones.

 

(i)              Prior to the Effective Date, following Hookipa’s delivery to Gilead of [***], in each case, in compliance with the HIV Research
Plan, Gilead has paid Hookipa the corresponding milestone payments for the achievement of such Milestone.

 

(ii)            Prior to the Effective Date, following [***] in compliance with the HIV Research Plan, Gilead has paid Hookipa a one (1)-time payment
of [***]. The Parties acknowledge and agree that such Milestone has been achieved.

 

(c)            
Development Milestones. Gilead shall pay Hookipa the following one (1)-time Milestone Payments under this Section 9.2(c)
upon the first achievement of the corresponding [***].

 

(i)             
[***]

 

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

     

	[***]	
    [***]

     

	[***]	[***]

 

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(ii)             
 [***].

 

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

 

(d)           Commercial Milestones. Gilead shall pay Hookipa the following one (1)-time Milestone Payments under this Section 9.2(d)
upon the first achievement of the corresponding commercial milestone event for the first HBV Licensed Product and for the first HIV Licensed
Product. For avoidance of doubt, the total Milestone Payments that may become due and payable under this Section 9.2(d) shall
not exceed One Hundred Fifteen Million USD ($115,000,000).

 

(i)             
HBV Licensed Product.

 

	Commercial Milestone Event	Milestone Payment
	 [***]	[***]
	 [***]	[***]

 

(ii)             
HIV Licensed Product.

 

	Commercial Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]

 

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9.3            Royalty Payments.

 

(a)           Royalty
Rates. In further consideration of the licenses and rights to Gilead hereunder, during each applicable Royalty Term, Gilead shall
make the following royalty payments under this Section 9.3 to Hookipa, on a Licensed Product-by-Licensed Product basis, based
on the aggregate annual Net Sales of such Licensed Product in the Territory. For clarity, the royalty payments: (i) shall be calculated
separately with respect to each Licensed Product; and (ii) shall be payable only once with respect to the same unit of Licensed Product.
All payments made pursuant to this Section 9.3 shall be made as provided in Article 10.

 

(i)             HBV
Licensed Product.

 

	
    Portion of Annual Net Sales

    in the Following Range
	Royalty Rate
	[***] up to [***]	[***]
	[***] up to [***]	[***]
	[***] up to [***]	[***]
	[***] and greater	[***]

 

(ii)             HIV Licensed Product.

 

	
    Portion of Annual Net Sales

    in the Following Range
	Royalty Rate
	[***] up to [***]	[***]
	[***] up to [***]	[***]
	[***] and greater	[***]

 

(b)           Royalty Terms.

 

(i)              The
royalty payments described in this Section 9.3 with respect to HBV Licensed Products sold in the Territory shall be payable
on an HBV Licensed Product-by-HBV Licensed Product and country-by-country basis, commencing upon the First Commercial Sale of an HBV
Licensed Product in a country in the Territory and expiring upon the latest of: (A) [***] years after the First Commercial Sale of such
HBV Licensed Product in such country; (B) the expiration of the last-to-expire Valid Claim of a Patent Right within the Licensed Technology
in such country that would be infringed by the sale of such HBV Licensed Product in such country in the absence of the licenses granted
to Gilead under this Agreement; or (C) the expiration of any Regulatory Exclusivity in such country with respect to such HBV Licensed
Product (the “HBV Royalty Term”).

 

(ii)             The
royalty payments described in this Section 9.3 with respect to HIV Licensed Products sold in the U.S. shall be payable, on
an HIV Licensed Product-by-HIV Licensed Product basis, commencing upon the First Commercial Sale of an HIV Licensed Product in the U.S.
and expiring upon the latest of: (A) [***] years after the First Commercial Sale of such HIV Licensed Product in the U.S.; (B) the expiration
of the last-to-expire Valid Claim of a Patent Right within the Licensed Technology in the U.S. that would be infringed by the sale of
such HIV Licensed Product in the U.S. in the absence of the licenses granted to Gilead under this Agreement; or (C) the expiration of
any Regulatory Exclusivity in the U.S. with respect to such HIV Licensed Product (the “U.S. HIV Royalty Term”).

 

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(iii)           The
royalty payments described in this Section 9.3 with respect to HIV Licensed Products sold in a country in the ROW shall be
payable, on an HIV Licensed Product-by-HIV Licensed Product and country-by-country basis, commencing upon the First Commercial Sale of
a HIV Licensed Product in a country in the ROW and expiring upon the latest of: (A) [***] years after the First Commercial Sale of such
HIV Licensed Product in such country; (B) the expiration of the last-to-expire Valid Claim of a Patent Right within the Licensed Technology
in such country that would be infringed by the sale of such HIV Licensed Product in such country in the absence of the licenses granted
to Gilead under this Agreement; or (C) the expiration of any Regulatory Exclusivity in such country with respect to such HIV Licensed
Product (the “ROW HIV Royalty Term”) (each of the HBV Royalty Term, the U.S. HIV Royalty Term, and the ROW HIV Royalty
Term, a “Royalty Term” and, collectively, the “Royalty Terms”).

 

9.4            Royalty Step-Down.

 

(a)           U.S.

 

(i)              For
any period during the applicable Royalty Term, if such Royalty Term continues in the U.S.: (A) with respect to the HBV Royalty Term,
solely by virtue of Section 9.3(b)(i)(A) or Section 9.3(b)(i)(C); or (B) with respect to the U.S. HIV Royalty
Term, solely by virtue of Section 9.3(b)(ii)(A) or Section 9.3(b)(ii)(C), then the royalty rates under Section 9.3
applicable to Net Sales of such Licensed Product in the U.S. during such period shall be reduced by an amount equal to [***] of such
royalty rates under Section 9.3.

  

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(ii)             If, during the applicable Royalty Term, Loss of Market Exclusivity with respect to a Licensed Product occurs in the U.S., then
the royalty rates under Section 9.3 applicable to Net Sales of such Licensed Product in the U.S. for the remainder of the
applicable Royalty Term, as may be adjusted by Section 9.4(a)(i), shall be reduced by an amount equal to [***] of the royalty
rates under Section 9.3.

 

(b)           ROW. For any period during the applicable Royalty Term, if such Royalty Term continues in any country in the ROW:
(i) (A) with respect to the HBV Royalty Term, solely by virtue of Section 9.3(b)(i)(A) or Section 9.3(b)(i)(C);
or (B) with respect to the ROW HIV Royalty Term, solely by virtue of Section 9.3(b)(iii)(A) or Section 9.3(b)(iii)(C);
and (ii) Loss of Market Exclusivity with respect to a Licensed Product occurs in such country, then the royalty rates under Section 9.3
applicable to Net Sales of such Licensed Product in such country for the remainder of the applicable Royalty Term shall be reduced by
[***] of such royalty rates under Section 9.3, [***].

 

9.5            Third Party Obligations.

 

(a)           Subject
to Section 9.5(c), in the event that Hookipa enters into an agreement with a Third Party after the Original Effective Date
pursuant to which Hookipa in-licenses or otherwise acquires Control of Patent Rights, Know-How, or other intellectual property rights
that would constitute Licensed Technology for purposes of this Agreement or the Original Collaboration Agreement, then Hookipa shall
promptly provide Gilead with notice and a copy of the applicable license or other agreement with the Third Party, together with a schedule
of obligations under any such Hookipa Third Party Agreement applicable to sublicensees, including any payment obligations: (A) specifically
attributable to the grant of a sublicense to Gilead to the Patent Rights, Know-How, or other intellectual property rights that would
constitute Licensed Technology for purposes of this Agreement; or (B) arising thereunder solely as a result of Gilead’s activities
under this Agreement in its capacity as a sublicensee of Hookipa under such Hookipa Third Party Agreement (such payment obligations pursuant
to (A) and (B), collectively the “Sublicense Payments”). Within [***] days following receipt of such notice, Gilead
shall decide, in its sole discretion, whether or not to accept such Patent Rights, Know-How, or other intellectual property as Licensed
Technology licensed under this Agreement and provide Hookipa written notice of such decision. In the event of acceptance: (i) such Patent
Rights, Know-How, or other intellectual property shall constitute Licensed Technology licensed to Gilead under this Agreement; (ii) such
agreement shall thereafter be included within the definition of Hookipa Third Party Agreements; (iii) Gilead shall be responsible for
all Sublicense Payments; and (iv) Schedule 9.5(a) shall be deemed amended to add such schedule of obligations applicable
to sublicensees and Gilead, in its capacity as a sublicensee, shall be obligated to comply with such obligations. In the event that Gilead
does not accept such Third Party agreement as a Hookipa Third Party Agreement (including by failing to respond within such [***]-day
period): (x) Gilead and its Affiliates shall have no obligations with respect to such Third Party agreement; and (y) Hookipa shall have
no obligation to grant any rights to Gilead under such Third Party agreement.

 

(b)           Notwithstanding
Section 9.5(a), Hookipa shall remain solely responsible for the payment of royalties, milestones, and other payment obligations
under the Hookipa Third Party Agreements set forth on Schedule 9.5(a) as in effect on the Original Effective Date. All such
payments shall be made promptly by Hookipa in accordance with the terms of the applicable Hookipa Third Party Agreement.

 

(c)           In
the event that Gilead reasonably determines that any Patent Rights, Know-How, or other intellectual property rights owned or otherwise
Controlled by a Third Party are necessary or useful in order to Develop, Manufacture, or Commercialize a Licensed Product, then [***].
Following such discussion, Gilead shall have the right to enter into a license agreement or otherwise acquire rights to such Patent Rights,
Know-How, or other intellectual property (including by way of settlement of litigation) and to deduct from [***] due to Hookipa on such
Licensed Product under this Agreement pursuant to Section 9.3, with respect to a given [***] of any and all payments actually
paid by Gilead to such Third Party with respect to such Licensed Product. Gilead shall keep Hookipa reasonably informed with respect
to Gilead’s negotiations for such license with such Third Party licensor and shall use good-faith efforts to [***]. Notwithstanding
the foregoing, including in the event that Gilead enters into multiple licenses with multiple Third Party licensors, in no event shall
any royalty payments pursuant to Section 9.3 due to Hookipa on such Licensed Product in a [***] be reduced, taking into account
also any reductions pursuant to Section 9.4, by more than [***] of the amount that would otherwise be due hereunder (the
 “Payment Floor”). Any such amounts payable for a license to Patent Rights, Know-How, or other intellectual property
[***] which are not fully recovered in a [***] in accordance with this Section 9.5(c) as a result of the application of the
Payment Floor or otherwise may be carried forward, and Gilead may deduct such carried-forward amount from subsequent [***] due to Hookipa
with respect to the applicable Licensed Product until the full amount that Gilead was entitled to deduct is deducted. For clarity, no
deductions from [***] due to Hookipa on any Licensed Products under this Agreement pursuant to Section 9.3 shall be made
pursuant to this Section 9.5(c) with respect to any amounts payable by Gilead for licenses granted by a Third Party to Gilead
for any Patent Rights, Know-How, or other intellectual property rights owned or otherwise Controlled by a Third Party that have been
concluded on or prior to the Original Effective Date.

 

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9.6            Research
and Development Funding.

 

(a)           HBV
Research Funding.

 

(i)             
During each Collaboration Term and in connection with any wind-down activities contemplated by Section 13.4
in relation to the HBV Program, Gilead shall reimburse Hookipa for all Out-of-Pocket Costs actually incurred (with no markup) by Hookipa
in connection with the HBV Program, to the extent specifically contemplated in the applicable Research Plan and in accordance with the
HBV Research Budget. Gilead shall reimburse the undisputed amount of such Out-of-Pocket Costs incurred in a [***] within [***] days after
receipt from Hookipa of an invoice therefor issued within [***] days after the end of such [***]. For clarity, Gilead will not have any
obligation to reimburse Hookipa for wind-down activities in connection with the HIV Programs.

 

(ii)             
During each HBV Collaboration Term for the HBV Program, Gilead shall reimburse Hookipa at the FTE Rate for the costs of
any FTEs (not to exceed the number of FTEs specified in the HBV Research Plan for the HBV Program for any period without first obtaining,
in each case, Gilead’s prior written consent) actually performing activities allocated to Hookipa under such HBV Research Plan.
Hookipa shall provide to Gilead, within [***] days after the end of each [***] during the HBV Collaboration Term, a report indicating
the number of FTEs actually provided by Hookipa with respect to such HBV Program during such [***]. Hookipa shall use standard industry
systems and processes to record the number of hours and FTEs actually applied to the HBV Program, which systems and processes shall be
consistently and equitably applied to all Hookipa research programs with Third Parties. Gilead shall reimburse Hookipa the undisputed
amount for such FTE costs incurred in a [***] within [***] days after receipt from Hookipa of an invoice therefor issued within [***]
days after the end of each [***].

 

(b)           HIV Development Program Funding. Gilead shall contribute to the costs and expenses incurred by Hookipa in connection
with the HIV Development Program during the HIV Development Term, including [***], as follows:

 

(i)              Gilead shall pay to Hookipa a non-refundable, non-creditable, one (1)-time payment of Fifteen Million USD ($15,000,000)
within [***] Business Days after the Effective Date (“Program Initiation Fee”);

 

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(ii)           
In the event that Gilead exercises the Option, Gilead shall pay to Hookipa a non-refundable, non-creditable, one (1)-time
payment of Ten Million USD ($10,000,000) within [***] Business Days after the Option Exercise Date (“Program Completion Fee”);

 

(iii)           Gilead shall reimburse Hookipa in accordance with Article 5 for the transfer of the Development responsibility
for the HB-500 Program Candidates back to Gilead upon Gilead’s exercise of the Option in accordance with Section 2.4(a),
provided that the first [***] hours of work in regards to the same shall be at
no charge; and

 

(iv)            Hookipa Pharma Inc. has the right to sell to Gilead, and Gilead has the obligation to purchase from Hookipa Pharma Inc.,
a certain number of the Shares (as defined in the Equity Agreement) subject to the terms and conditions set forth in the Equity Agreement.

 

Without limiting the payments
pursuant to clauses (i), (ii), (iii) and (iv) of this Section 9.6(b), Gilead shall not be required to reimburse Hookipa for
any costs or expenses incurred by Hookipa in the course of its activities under the HIV Programs, costs of any FTEs performing activities
allocated to Hookipa under the HIV Development Plan or any Out-of-Pocket Costs incurred by Hookipa in connection with the HIV Development
Program during the HIV Development Term, and all such costs incurred by Hookipa since January 1, 2022 shall be assumed by Hookipa.

 

(b1)            HIV
Development Program Funding Gap.

 

(i)              In
the event that (aa) [***], or (bb) [***], in either case of (aa) or (bb), prevent a drawing by Hookipa Pharma Inc. of [***] of the Equity
Commitment (as defined in the Equity Agreement) by [***], then Hookipa shall have the right to suspend commencing or continuing to enroll
patients in any human clinical trial conducted by or on behalf of Hookipa or its Affiliates hereunder, including the Phase 1b Clinical
Trial contemplated under the HIV Development Plan, unless [***].

 

(ii)             If
Hookipa Pharma Inc. is unable to draw [***] of the Equity Commitment [***] due to an event described in clause (aa) or (bb) of paragraph
(i) above and Hookipa intends to exercise the right to suspend commencing or continuing to enroll patients in any such Phase 1b Clinical
Trial or other human clinical trial conducted under the then-current HIV Development Plan, Hookipa shall provide written notice thereof
to Gilead promptly [***] and Gilead, Hookipa and Hookipa Pharma Inc. shall discuss [***].

 

(iii)            If
Gilead, Hookipa and, if applicable, Hookipa Pharma Inc. are able to reach mutual agreement [***], then (aa) Hookipa shall resume to commence
or continue to enroll patients in any such Phase 1b Clinical Trial or other human clinical trial in accordance with the then-current HIV
Development Plan or [***], (bb) [***], and (cc) [***].

 

(iv)            If
Gilead, Hookipa and, if applicable, Hookipa Pharma Inc. are not able to reach mutual agreement on [***], then (aa) [***], (bb) [***],
and (cc) Gilead may exercise the Option hereunder [***] and, if Gilead does exercise such Option, the provisions of Section 2.4(c)
shall apply, provided, that (x) notwithstanding Section 2.4(c)(i), (A) Gilead shall not be obligated to pay the Program
Completion Fee, and (B) Hookipa shall repay to Gilead the Program Initiation Fee less any costs and expenses allocated to the HIV Development
Program that have been incurred or irrevocably committed to be incurred by Hookipa or its Affiliates in the conduct of the HIV Development
Plan, and (y) effective as of the Option Exercise Date, the tables in Section 9.2(c)(ii) and Section 9.2(d)(ii)
shall be automatically amended and replaced with the following respective tables:

 

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(ii)              HIV Licensed
Product.

 

 

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

 

(ii)            HIV
Licensed Product.

 

	Commercial Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]

 

(v)            In
the event that Gilead decides not to exercise the Option and provides Hookipa with written notice thereof within [***] Business Days following
expiration of the [***] days period pursuant to paragraph (iv) above, or such period of [***] Business Days following expiration of such
[***] days period pursuant to paragraph (iv) above expires without Gilead notifying Hookipa of its decision in writing, the provisions
of Section 2.4(d) shall apply.

 

(c)           Other Funding. For clarity, Gilead shall not be obligated to reimburse Hookipa for any costs or expenses incurred
by Hookipa in the course of its activities under the Programs, other than: (i) those costs and expenses expressly identified in this Section 9.6
or elsewhere in this Agreement or the Original Collaboration Agreement (but in no event will Gilead be obligated to reimburse Hookipa
for the same cost or expense under both this Agreement and the Original Collaboration Agreement (i.e., no double-payment)); or
(ii) any other costs and expenses approved by Gilead in writing in advance. For further clarity, all costs and expenses incurred by a
Party under the then-current HIV Research Plan existing under the Original Collaboration Agreement during the period ending on January
1, 2022 shall be borne by such Party or, as the case may be, reimbursed by the other Party, in accordance with the terms of the Original
Collaboration Agreement governing such costs and expenses during such period.

 

(d)          
Invoices. Hookipa will provide an invoice to Gilead for the amount of the Program Initiation Fee and, if Gilead
exercises the Option, the Program Completion Fee.

 

9.7           No
Projections. Each of Hookipa and Gilead hereby acknowledges and agrees that nothing in this Agreement shall be construed as representing
an estimate or projection of anticipated sales of any Licensed Product, and that the Milestones and Net Sales levels set forth above
or elsewhere in this Agreement or that have otherwise been discussed by the Parties are merely intended to define the Milestone Payments
and royalty obligations to Hookipa in the event such Milestones or Net Sales levels are achieved. NEITHER HOOKIPA NOR GILEAD MAKES ANY
REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, THAT IT WILL BE ABLE TO SUCCESSFULLY DEVELOP, OBTAIN REGULATORY APPROVAL FOR,
OR COMMERCIALIZE ANY LICENSED PRODUCT OR, IF COMMERCIALIZED, THAT ANY PARTICULAR NET SALES LEVEL OF SUCH LICENSED PRODUCT WILL BE ACHIEVED.

 

9.8           
Non-Refundable and Non-Creditable Payments. Notwithstanding the non-refundable or non-creditable nature of any
payments hereunder, but subject to the limitations set forth in Section 16.5, nothing in this Agreement shall limit either
Party’s rights to assert or obtain damages for breach of this Agreement, including damages calculated based on the payments made
under this Agreement.

 

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9.9            Allocation
of Payment Values.

 

(a)           The
Parties agree and acknowledge that: (i) the Licensed Technology comprises Patent Rights, Know-How, and other intellectual property rights
both owned by Hookipa and in-licensed by Hookipa from Third Parties under the Hookipa Third Party Agreements set forth in Schedule 9.5(a),
as in effect on the Effective Date; and (ii) Hookipa has certain payment obligations to Third Parties under such Hookipa Third Party
Agreements based on amounts payable by Gilead to Hookipa under this Agreement in consideration for Hookipa’s grant of a respective
sublicense to Gilead in accordance with Section 3.1(a).

 

(b)           The
Parties further agree and acknowledge that Hookipa will allocate the payments set forth in Sections 9.1, 9.2 and 9.3
to the various components of Licensed Technology, and calculate participation payments to Third Parties, under such Hookipa Third
Party Agreements, in accordance with the Calculation Agreement.

 

(c)           Notwithstanding
Sections 9.9(a) and 9.9(b), the Parties agree and acknowledge that one (1) or more of the intellectual property rights
comprised by the Licensed Technology may become irrelevant for a given Licensed Product in course of the Research, Development, Manufacture,
or Commercialization undertaken under this Agreement. The Parties shall discuss from time to time at the JSC whether any Patent Rights,
Know-How, or other intellectual property rights comprised by the Licensed Technology are no longer relevant for further Research, Development,
Manufacture, or Commercialization of a Licensed Product, including whether an adjusted allocation of the payments set forth in Sections 9.1,
9.2 and 9.3 to the various components of Licensed Technology is advisable. Upon the Parties’ mutual agreement, if
any, on such adjusted allocation, Hookipa will calculate the participation payments due to its Third Party licensors in accordance with
such adjusted allocation.

 

		10.	REPORTS AND PAYMENT TERMS

 

10.1          Reports; Payment Terms.

 

(a)           Gilead shall furnish to Hookipa a written notice of the achievement by Gilead, its Affiliates, or its sublicensees of a
Milestone (other than a commercial milestone set forth in Section 9.2(d)) within [***] days after such Milestone has been
achieved. After the receipt of any such notice, Hookipa shall submit an invoice to Gilead with respect to the corresponding Milestone
Payment. Gilead shall pay such Milestone Payment within [***] days after receipt of such invoice.

 

(b)           During
the period from the First Commercial Sale of any Licensed Product until the end of the last-to-expire Royalty Term, Gilead shall, within
[***] days following the end of each [***] for which royalties are due: (i) furnish to Hookipa a written report, showing: (A) the aggregate
Net Sales of each Licensed Product sold in each country during the relevant [***] in USD; (B) the royalties and, as the case may be,
commercial milestones set forth in Section 9.2(d) which shall have accrued hereunder in respect of Net Sales; and (C) the
exchange rates used in determining the amounts payable in USD; and (ii) pay such royalties and commercial milestones with respect to
such [***] as set forth in such written report.

 

(c)           Unless
otherwise specified herein, all payments hereunder require an invoice and shall be made by wire transfer to the credit of such bank account
as may be designated by Hookipa in this Agreement or in writing to Gilead. Any payment which falls due on a date which is not a Business
Day may be made on the next succeeding Business Day.

 

10.2          Currency;
Adjustments to Payment Amounts.

 

(a)           All
payments under this Agreement shall be payable in USD (including, for clarity, all payments based on amounts defined herein in currencies
other than USD). With respect to sales of a Licensed Product and other amounts received or to be paid to a Third Party in a currency
other than USD, such amounts and amounts payable shall be converted to USD using the exchange rate mechanism generally applied by Gilead
in preparing its audited financial statements for the applicable [***], subject to Section 10.2(b); provided, that
such mechanism is in compliance with Accounting Standards. Gilead shall inform Hookipa of any changes to its standard worldwide currency
conversion methodology prior to any such changes becoming effective.

 

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(b)           In
the event that the exchange rate of USD to Euro as calculated in accordance with Section 10.2(a) (such exchange rate, the
 “Reference Exchange Rate”) is greater than [***] of the Base Exchange Rate or less than [***] of the Base Exchange
Rate as of the last day of the [***] immediately preceding the reimbursement date for any FTEs or Out-of-Pocket Costs in accordance with
this Agreement (the “Measurement Date”), the calculation for which is based on or requires, in whole or in part, the
Reference Exchange Rate, such reimbursement shall be adjusted up or down, as applicable, to reflect the Reference Exchange Rate in effect
on the Measurement Date. Gilead shall notify Hookipa of the Reference Exchange Rate as of the applicable Measurement Date by written
notice delivered prior to or contemporaneously with delivery of such reimbursement.

 

10.3        
Blocked Currency. If at any time legal restrictions in the Territory prevent the prompt remittance of any payments
with respect to sales therein, Gilead shall have the right and option to make such payments by depositing the amount thereof in local
currency to Hookipa’s account in a bank or depository designated by Hookipa in the Territory.

 

10.4          Taxes. Hookipa shall pay any and all taxes levied on account of any payments made to Hookipa under this Agreement.
If any taxes are required to be withheld by Gilead, Gilead shall: (a) deduct such taxes from the payment made to Hookipa; (b) timely pay
such taxes to the proper taxing authority; (c) send proof of payment to Hookipa; and (d) reasonably assist Hookipa in its efforts to obtain
a credit for such tax payment. Each Party agrees to reasonably assist the other Party in lawfully claiming exemptions from or minimizing
such deductions or withholdings under double taxation laws or similar circumstances.

 

10.5        
Late Payments. Any amount owed by a Party to the other Party under this Agreement that is not paid within the
applicable time period set forth herein shall accrue interest at the rate per annum equal to the thirty (30)-day average S.O.F.R. (Secured
Overnight Financing Rate for U.S. dollar denominated loans and derivatives), as published by the Federal Reserve Bank of New York, as
the administrator of the benchmark rate (or a successor administrator), on the Federal Reserve Bank of New York’s website for the
first Business Day of each month (starting with the month in which such payment was first due) plus rate per annum of [***] calculated
on a [***] basis, or, if lower, the highest rate permitted under Applicable Law.

 

10.6         Records and Audit Rights.

 

(a)            Each
Party shall keep complete, true, and accurate books and records in accordance with its Accounting Standards in relation to this Agreement,
including, with respect to Gilead, its Affiliates, and its sublicensees, in relation to Net Sales, royalties, and Milestone Payments,
and with respect to Hookipa, in relation to FTE efforts expended and Out-of-Pocket Costs incurred under the Programs or otherwise which
Gilead is obligated to reimburse under this Agreement. Each Party or other selling entity shall keep such books and records for at least
[***] years following the Calendar Year to which they pertain or for such longer period of time as required under any Applicable Law.

 

(b)           Each
Party (the “Auditing Party”) shall have the right, once per [***] and at its own expense, to have an
internationally recognized, independent, certified public accounting firm (the “Auditor”), selected by the
Auditing Party and reasonably acceptable to the other Party (the “Audited Party”), review any such records of
such other Party (either directly by the Auditing Party or through the Audited Party) in the location(s) where such records are
maintained by the Audited Party upon reasonable written notice (which shall be no less than [***] days’ prior written notice)
and during regular business hours and under obligations of strict confidence secured through a confidentiality agreement between the
Auditor and the Audited Party, for the sole purpose of verifying the basis and accuracy of payments made and deductions taken within
the [***] period preceding the date of the request for review. Records for any particular period may be audited only once.

 

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(c)           In the event such audit leads to the discovery of a discrepancy to the Auditing Party’s detriment, the Audited Party
shall, within [***] days after receipt of such report from the Auditor, pay any undisputed amount of the discrepancy. The Auditing Party
shall pay the full cost of the audit unless the underpayment of amounts due or overpayment of amounts payable by the Auditing Party is
greater than [***] of the amount due for the entire period being examined, in which case the Audited Party shall pay the reasonable cost
charged by the Auditor for such review. Any undisputed overpayments by the Audited Party revealed by an examination shall be paid by the
Auditing Party at the Audited Party’s discretion either: (i) as a credit against future payments owed; or (ii) within [***] days
of the Auditing Party’s receipt of the applicable report.

 

(d)           Any disagreement regarding the results of any audit conducted under this Section 10.6 shall be [***].

 

		11.	INTELLECTUAL PROPERTY RIGHTS

 

11.1         Ownership.

 

(a)            Background
Intellectual Property. As between the Parties, and subject to the licenses granted under this Agreement, each Party retains all rights,
title, and interests in and to all Patent Rights, Know-How, and other intellectual property rights that such Party owns or otherwise
Controls as of the Effective Date or that it develops or otherwise acquires after the Effective Date outside the performance of the activities
under this Agreement. Without limiting the generality of the foregoing, as between the Parties, Gilead shall own all rights, title, and
interests in and to the Gilead Background Intellectual Property, and Hookipa shall own all rights, title, and interest in and to the
Hookipa Background Intellectual Property.

 

(b)           Improvements.
As between the Parties, Gilead shall own all rights, title, and interests in and to the Gilead Improvements, and Hookipa shall own all
rights, title, and interests in and to the Hookipa Technologies Improvements and the Hookipa HIV Development Program Improvements. Each
Party shall and hereby does assign to the other Party any right, title, and interest it may have in any Improvement that is to be owned
by the other Party pursuant to this Section 11.1, and agrees to execute such documents and take such other actions reasonably
requested by the other Party to the extent necessary to give effect to the ownership allocation set forth in this Section 11.1.

 

(c)           Invention
Protection. Each Party shall ensure that the employees, officers and independent contractors (excluding any sublicensees or subcontractors,
each of whom are subject to Section 3.2) of such Party or its respective Affiliates performing activities under this Agreement
shall, prior to commencing such work, be bound by written invention assignment obligations requiring: (i) prompt reporting of any Patent
Rights, Know-How, or other intellectual property rights arising from such work; (ii) assignment to the applicable Party or Affiliate
all of his or her rights, title, and interests in and to any Patent Rights, Know-How, or other intellectual property rights arising from
such work; (iii) cooperation in the Prosecution and Maintenance and enforcement of any Patent Right that is required to be assigned under
this Agreement; and (iv) performance of all acts and signing, executing, acknowledging, and delivering any and all documents required
for effecting the obligations and purposes of this Agreement.

 

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11.2          Prosecution
and Maintenance.

 

(a)           Background
Intellectual Property. Gilead shall be solely responsible for the Prosecution and Maintenance of the Gilead Background Intellectual
Property at Gilead’s sole cost and expense, and Hookipa shall be solely responsible for the Prosecution and Maintenance of the
Hookipa Background Intellectual Property at Hookipa’s sole cost and expense.

 

(b)           Improvements;
Licensed Technology.

 

(i)              Gilead shall be solely responsible for the Prosecution and Maintenance of the Patent Rights claiming or directed to the Gilead
Improvements at Gilead’s sole cost and expense, and except as set forth in Section 11.2(b)(ii) or Section 11.2(c)
below, Hookipa shall be solely responsible for the Prosecution and Maintenance of the Patent Rights claiming or directed to the Hookipa
Technologies Improvements at Hookipa’s sole cost and expense.

 

(ii)             Subject
to Section 3.6, Hookipa shall, in consultation with Gilead, be responsible for Prosecution and Maintenance of Hookipa Patent
Rights at Hookipa’s cost and expense. Hookipa shall use Commercially Reasonable Efforts to obtain appropriate patent protection
with respect to claimed inventions that are supported by the relevant specification of each Hookipa Patent Right. Gilead shall reasonably
cooperate with Hookipa in connection with the Prosecution and Maintenance of the Hookipa Patent Rights to the extent reasonably requested
by Hookipa, including by providing reasonable access to relevant persons and executing all documentation reasonably requested by Hookipa.
Hookipa shall consult with Gilead and keep Gilead reasonably informed of the status of such Hookipa Patent Rights, and provide copies
of all relevant documents in a timely manner for Gilead’s review and comment, including any material reduction in scope, and shall
reasonably consider and use reasonable efforts to incorporate any Gilead comments in good faith; provided, however, that
Hookipa shall have the authority to make, in good faith, all final decisions relating to such matters.

 

(c)           Hookipa
shall notify Gilead in writing of any decision not to file applications for, to cease Prosecution and Maintenance of, or to not continue
to pay the expenses of Prosecution and Maintenance of, any Hookipa Patent Right, including any decision to abandon any pending patent
application or issued patent within the Hookipa Patent Rights. Hookipa shall provide such notice at least [***] days prior to any relevant
filing or payment due date, or any other due date that requires action, in connection with such Hookipa Patent Right or claim thereof.
In such event, Hookipa shall permit Gilead, at Gilead’s sole discretion, cost, and expense, to file or to continue Prosecution
and Maintenance of such Hookipa Patent Right, and if Gilead continues to Prosecute and Maintain such Hookipa Patent Right, the following
shall apply, subject to Section 3.6:

 

(i)              Such
Hookipa Patent Right shall remain in the ownership or otherwise in the Control of Hookipa and shall remain included in the definition
of Hookipa Patent Rights for the purpose of this Agreement; provided, however, that, for purposes of this Agreement, all
Valid Claims of such Hookipa Patent Right shall be deemed to have expired;

 

(ii)             Hookipa
shall fully cooperate with Gilead in connection with the Prosecution and Maintenance of such Hookipa Patent Right to the extent reasonably
requested by Gilead, including by providing reasonable access to relevant persons and executing all documentation reasonably requested
by Gilead; and

 

(iii)            Gilead
shall keep Hookipa reasonably informed of the status of such Hookipa Patent Right and shall notify Hookipa in writing at least [***]
days prior to any relevant filing or payment due date of any decision not to file applications for, to cease Prosecution and Maintenance
of, or to not continue to pay the expenses of Prosecution and Maintenance of, such Hookipa Patent Right, including any decision to abandon
any pending patent application or issued patent within such Hookipa Patent Right, in which case Hookipa shall be entitled to re-assume
the sole right for the Prosecution and Maintenance of such Hookipa Patent Right at its sole discretion, cost and expense.

 

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11.3          Enforcement.

 

(a)           
Each Party shall promptly notify the other Party of any infringement, misappropriation, or other violation by a Third Party
of any of the Licensed Technology of which it becomes aware, including any declaratory judgment, opposition, or similar action alleging
the invalidity, unenforceability, or non-infringement with respect to the Licensed Technology (collectively, “Competing Infringement”).

 

(b)           Subject to Section 3.6, to the extent such Competing Infringement is related to Licensed Technology primarily
related to HBV or HIV, Gilead shall have the first right (but not the obligation) to bring and control any legal action in connection
with the Competing Infringement at its own expense as it reasonably determines appropriate, and Hookipa shall have the right, at its own
expense, to be represented in any such action by counsel of its own choice. If Gilead does not wish to bring an action or proceeding with
respect to, or to otherwise terminate, any such infringement of any Licensed Technology, then it shall provide written notice thereof
to Hookipa: (i) within [***] following the notice of alleged Competing Infringement; or (ii) prior to [***] months before the
time limit, if any, specified under Applicable Laws for the filing of such actions, whichever comes first, then, upon receipt of such
notice (or, if no such notice is provided by Gilead, upon the earlier of (i) and (ii)), Hookipa shall have the right (but not the obligation)
to bring and control any such action at its own expense and by counsel of its own choice, and Gilead shall have the right, at its own
expense, to be represented in any such action by counsel of its own choice; provided, however, that if Gilead notifies Hookipa
in writing prior to [***] days before such time limit for the filing of any such action that Gilead intends to file such action before
the time limit, then Gilead shall be obligated to file such action before the time limit and to reimburse Hookipa for its reasonable and
documented costs and expenses (including reasonable attorneys’ and professional fees) incurred in connection with Hookipa’s
preparation of such action, and Hookipa shall not have the right to bring and control such action.

 

(c)           At
the request and expense of the Party prosecuting the relevant action pursuant to Section 11.3(b), 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.

 

(d)           In
connection with any proceeding pursuant to Section 11.3(b), the Party bringing and controlling an enforcement action shall
not enter into any settlement admitting the invalidity of, or otherwise impairing the other Party’s rights in, the Licensed Technology
without first obtaining, in each case, the prior written consent of the other Party, which shall not be unreasonably withheld, conditioned,
or delayed.

 

(e)           To
the extent such Competing Infringement is related to Licensed Technology not primarily related to HBV or HIV, Hookipa shall have the
first right (but not the obligation) to bring and control any legal action in connection with the Competing Infringement at its own
expense as it reasonably determines appropriate, and Gilead shall have the right, at its own expense, to be represented in any such
action by counsel of its own choice. If Hookipa fails to bring an action or proceeding with respect to, or to otherwise terminate,
any such infringement of any Licensed Technology: (i) within [***] days following the notice of alleged Competing Infringement;
or (ii) prior to [***] months before the time limit, if any, specified under Applicable Laws for the filing of such actions,
whichever comes first, Gilead shall have the right (but not the obligation) to bring and control any such action at its own expense
and by counsel of its own choice, and Hookipa shall have the right, at its own expense, to be represented in any such action by
counsel of its own choice; provided, however, that if Hookipa notifies Gilead in writing prior to [***] days before
such time limit for the filing of any such action that Hookipa intends to file such action before the time limit, then Hookipa shall
be obligated to file such action before the time limit and to reimburse Gilead for its reasonable and documented costs and expenses
(including reasonable attorneys’ and professional fees) incurred in connection with Gilead’s preparation of such action,
and Gilead shall not have the right to bring and control such action.

 

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11.4          Defense.

 

(a)           Each
Party shall promptly notify the other Party of any actual or potential claim alleging that the Research, Development, Manufacture, or
Commercialization of any Licensed Product infringes, misappropriates, or otherwise violates any Patent Rights, Know-How, or other intellectual
property rights of any Third Party (“Third Party Infringement”).

 

(b)           In
any such instance, the Parties shall as soon as practicable thereafter discuss in good faith the best response to such notice of Third
Party Infringement, and, subject to Section 3.6, Gilead shall have the first right (but not the obligation) to defend any
such claim of Third Party Infringement, at Gilead’s sole discretion, cost, and expense, and Hookipa shall have the right to be
represented in any such action by counsel of its own choice at Hookipa’s sole cost and expense.

 

(c)           If Gilead declines or fails to assert its intention to defend any such claim of Third Party Infringement within [***] days
following receipt or, as applicable, sending of a notice pursuant to Section 11.4(a), then Hookipa shall have the right (but
not the obligation) to defend such claim of Third Party Infringement at Hookipa’s sole discretion, cost and expense, and Gilead
shall have the right to be represented in any such action by counsel of its own choice at Gilead’s sole cost and expense.

 

(d)           In no event shall either Party settle or otherwise compromise any Third Party Infringement by admitting that any Patent
Right included within the Licensed Technology is invalid or unenforceable, unless explicitly approved by the other Party in writing. In
the event that Gilead, subject to Hookipa’s prior approval, enters into any settlement with respect to any actual or potential claim
of Third Party Infringement which includes the acceptance of any license to Patent Rights, Know-How, or other intellectual property rights
owned or otherwise Controlled by any Third Party and necessary or useful for the Research, Development, Manufacture, or Commercialization
of any Licensed Product, such settlement shall further be subject to Section 9.5(c).

 

11.5         Recovery. Subject to Section 3.6, any recovery received as a result of any action under Sections 11.3
or 11.4 shall be used in the following order: (a) to reimburse the Party taking legal action for the costs and expenses (including attorneys’
and professional fees) incurred in connection with such action (and not previously reimbursed); (b) to reimburse the Party not taking
the lead in a legal action but which joins such legal action as provided herein, for the costs and expenses (including attorneys’
and professional fees) incurred in connection with such action (and not previously reimbursed); and (c) the remainder of the recovery
shall be [***] and each such share shall be paid to or retained by a Party.

 

11.6         Trademarks.
Gilead shall have the right to brand the Licensed Products using Gilead-related trademarks and any other trademarks and trade names it
determines appropriate for each Licensed Product, which may vary by country or within a country (the “Product Marks”).
Gilead shall own all rights, title, and interests in and to the Product Marks and register and maintain the Product Marks in the countries
and regions it determines reasonably necessary.

 

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11.7        
Patent Marking. To the extent commercially feasible and consistent with prevailing business and legal practices,
Gilead shall mark, and shall cause its Affiliates and sublicensees to mark, all Licensed Products that are Manufactured or Commercialized
under this Agreement with the number of each issued Hookipa Patent Right that specifically claims such Licensed Products.

 

11.8         Licensed
Product Listings. With respect to filings in the FDA’s Orange Book or Purple Book or other similar filings or listings as may
be applicable to a biologic or drug (and foreign equivalents) for issued patents for a Licensed Product, upon request by Gilead, Hookipa
shall provide reasonable cooperation to Gilead in filing and maintaining any such listing and filings.

 

11.9         Patent
Term Extensions. Subject to Section 3.6, upon Gilead’s request, Hookipa shall: (a) with respect to requests solely
applicable to one (1) or more Licensed Products, cooperate in obtaining, but only to the extent such Patent Term Extensions do not impact
Hookipa’s ability to obtain Patent Term Extensions based on approvals for any products other than the Licensed Products; and (b)
with respect to all other request, consider in good-faith whether to obtain, in each case, patent term restoration (including under the
Drug Price Competition and Patent Term Restoration Act), supplemental protection certificates or their equivalents, and patent term extensions
(collectively, “Patent Term Extensions”) with respect to the Hookipa Patent Rights in any country or region within
the Territory, where applicable, at Gilead’s sole cost and expense. Gilead acknowledges that Hookipa’s internal patent strategies
and business considerations and obligations under any applicable Hookipa Third Party Agreements will be taken into account. If the Parties
agree on a Patent Term Extension for a given Hookipa Patent Right, Hookipa shall provide all reasonable assistance requested by Gilead,
including permitting Gilead to proceed with applications for such in the name of Hookipa or the Third Party licensor under the applicable
Hookipa Third Party Agreement, if deemed appropriate by Gilead, and executing documents and providing any relevant information and assistance
to Gilead.

 

12.          CONFIDENTIALITY

 

12.1          Duty
of Confidence. Subject to the other provisions of this Article 12, all Confidential Information disclosed by a Party
or any of its Affiliates (the “Disclosing Party”) to the other Party or any of its Affiliates (the “Recipient
Party”) under this Agreement or the Original Collaboration Agreement shall be maintained in confidence and otherwise safeguarded
by the Recipient Party. The Recipient Party may only use Confidential Information of the Disclosing Party for the purposes of this Agreement
and pursuant to the rights granted to the Recipient Party under this Agreement. Subject to the other provisions of this Article 12,
the Recipient Party shall hold as confidential such Confidential Information of the Disclosing Party in the same manner and with the
same protection as such Recipient Party maintains its own Confidential Information, but in any event with no less than reasonable protections.

 

12.2          Exceptions.
The obligations under this Article 12 shall not apply to any Confidential Information to the extent that such Confidential
Information:

 

(a)           is
(at the time of disclosure) or becomes (after the time of disclosure) known to the public or part of the public domain through no breach
of this Agreement by the Recipient Party;

 

(b)           was
known to, or was otherwise in the possession of, the Recipient Party, as evidenced by its written records, prior to the time of disclosure
by the Disclosing Party;

 

(c)           is
disclosed to the Recipient Party on a non-confidential basis by a Third Party lawfully in possession thereof who is entitled to disclose
it without breaching any confidentiality obligation to the Disclosing Party; or

 

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(d)           is independently developed by or on behalf of the Recipient Party, as evidenced by its written records, without reference
to the Confidential Information disclosed by the Disclosing Party under this Agreement.

 

12.3          Authorized Disclosures. In addition to disclosures allowed under Section 12.2, Section 12.6, or Article 17
and those mutually agreed to by the Parties in writing, solely to the extent that it is reasonably necessary or appropriate to fulfill
its obligations or exercise its rights under this Agreement, the Recipient Party and Permitted Recipients may disclose Confidential Information
of the Disclosing Party in the following instances:

 

(a)            in
connection with Prosecution and Maintenance of Patent Rights as permitted by this Agreement;

 

(b)          
in connection with Regulatory Filings for Licensed Products made pursuant to this Agreement;

 

(c)           prosecuting
or defending litigation as permitted by this Agreement;

 

(d)           subject to Sections 12.4 and 12.5, complying with Applicable Laws (including the rules and regulations
of the Securities and Exchange Commission or any national securities exchange) and with judicial process, if such disclosure is necessary
for such compliance; and

 

(e)            to
the Recipient Party’s: (i) officers, directors, and employees; (ii) sublicensees; and (iii) agents, contractors (including consultants
and clinical investigators), advisers, and other Third Parties, in the case of each of clauses (i)-(iii), solely to the extent reasonably
necessary for the purposes of, and for those matters undertaken pursuant to, this Agreement; provided, that in the case of disclosures
to Persons set forth in clauses (ii) and (iii), such Persons are bound by written obligations of confidentiality and non-use no less
restrictive than the obligations set forth in this Article 12 (each a “Permitted Recipient”); provided,
further, that the Recipient Party shall remain responsible for any failure by any Permitted Recipient who receives Confidential
Information pursuant to this Article 12 to treat such Confidential Information as required under this Article 12.

 

If and whenever any Confidential
Information is disclosed in accordance with this Section 12.3, such disclosure shall not cause any such information to cease
to be Confidential Information except to the extent that such permitted disclosure results in a public disclosure of such information
(otherwise than by breach of this Agreement). Where reasonably possible and subject to Sections 12.4 and 12.5, the
Recipient Party shall, or cause its Permitted Recipients, if applicable, to notify the Disclosing Party of the Recipient Party’s
or its Permitted Recipient’s, as applicable, intent to make such disclosure pursuant to paragraphs (c) or (d) of this Section 12.3
sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem appropriate
to protect the confidentiality of the information.

 

12.4         Required
Disclosure. A Recipient Party may disclose Confidential Information pursuant to interrogatories, requests for information or documents,
subpoena, civil investigative demand issued by a court or governmental agency, or as otherwise required by Applicable Law; provided,
that the Recipient Party shall notify the Disclosing Party promptly upon any receipt thereof, using commercially reasonable efforts to
provide the Disclosing Party sufficient advance notice to permit it to oppose, limit, or seek confidential treatment for such disclosure,
and to file for patent protection if relevant; provided, further, that the Recipient Party shall furnish only that portion
of the Confidential Information which it is advised by counsel is legally required, whether or not a protective order or other similar
order is obtained by the Disclosing Party.

 

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12.5        
Securities Filings. In the event either Party or any of its Affiliates proposes to file with the Securities
and Exchange Commission or the securities regulators of any state or other jurisdiction a registration statement or any other disclosure
document which describes, refers to, or provides a copy of this Agreement under the Securities Act of 1933, the Securities Exchange Act
of 1934, or any other Applicable Law, the Party shall, and shall, if applicable, cause its Affiliate to, 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 [***] 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 which
it is advised by counsel is legally required to be disclosed. No such notice shall be required under this Section 12.5 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 either Party or its Affiliates hereunder or otherwise has been approved by the other Party.

 

12.6         Terms
of Agreement. The existence and the terms and conditions of this Agreement that the Parties have not specifically agreed to disclose
pursuant to Section 12.3 or Article 17 shall be considered Confidential Information of both Parties. Either Party and its
Affiliates may disclose such terms and conditions of this Agreement on a need-to-know basis to [***], licensor (including, in the case
of Hookipa, any Third Party licensor under a Hookipa Third Party Agreement), [***], consultant, advisor, sublicensee, or an acquirer
of rights to a Licensed Product, and their attorneys and agents; provided, that each such Person to whom such information is to
be disclosed: (a) is informed of the confidential nature of such information; (b) has entered into a written agreement with the Party,
or is otherwise bound by professional rules, requiring such Person to maintain the confidentiality of such Confidential Information;
and (c) is obliged to maintain the confidentiality in a manner consistent with the confidentiality provisions of this Agreement, provided,
however, that the foregoing clause (c) shall not apply with respect to the Third Party licensors under the Hookipa Third Party
Agreements. To the extent that Hookipa is obliged under any Hookipa Third Party Agreement to disclose to its Third Party licensor any
progress or financial reports from Gilead that are related to the Development or Commercialization of Licensed Products as described
in detail in Schedule 9.5(a), Hookipa may undertake such disclosure and any such disclosure shall not constitute a breach of this
Article 12.

 

12.7          Ongoing
Obligation for Confidentiality. Upon early termination of this Agreement in its entirety for any reason, each Party and its Permitted
Recipients shall immediately return to the other Party or destroy any Confidential Information disclosed by or on behalf of the other
Party, except for one (1) copy which may be retained in its confidential files for archive purposes.

 

		13.	TERM AND TERMINATION

 

13.1          Term. The term of this Agreement shall commence upon the Effective Date and continue, unless earlier terminated
as permitted by this Agreement, until the expiration of the last-to-expire Royalty Term (the “Term”).

 

13.2          Termination
for Material Breach. If a Party (the “Non-Breaching Party”) reasonably believes that the other Party (the “Breaching
Party”) is in breach of any material obligation hereunder, the Non-Breaching Party may give written notice to the Breaching
Party specifying the breach in reasonable detail. In the event such breach is not cured within the relevant time period specified below
after such notice, the Non-Breaching Party shall have the right thereafter to terminate this Agreement immediately, in its entirety,
with the consequences as set forth in Sections 14.1 or 14.2, as applicable, by giving written notice to the Breaching
Party to such effect. The Breaching Party shall have [***] following receipt of the Non-Breaching Party’s written notice to either
cure such breach or, if cure cannot be reasonably effected within such [***] period, to deliver to the Non-Breaching Party a plan for
curing such breach which is reasonably sufficient to effect a cure within a reasonable period not to exceed [***] following receipt of
such plan by the Non-Breaching Party. Following delivery of such plan, the Breaching Party shall use Commercially Reasonable Efforts
to carry out the plan and cure the breach. Notwithstanding the foregoing, the right to terminate in accordance with this Section 13.2
may be exercised on a Licensed Product-by-Licensed Product or country-by-country basis.

 

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13.3          Termination
for Insolvency. Either Party may terminate this Agreement at any time during the Term upon the other Party’s filing or institution
of bankruptcy, reorganization, liquidation, or receivership proceedings, or upon an assignment of a substantial portion of the assets
for the benefit of creditors by the other Party; provided, however, that in the case of any involuntary bankruptcy proceeding,
such right to terminate shall only become effective if the Party consents to the involuntary bankruptcy or such proceeding is not dismissed
within [***] days after the filing thereof. In addition, Gilead may terminate this Agreement in the event that Hookipa rejects this Agreement
under Section 365 of the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq. (the “Code”).

 

13.4          Termination by Gilead for Convenience.

 

(a)            Termination
of HBV Program by Gilead for Convenience.

 

(i)             During
the HBV Collaboration Term, Gilead shall have the right to terminate this Agreement with respect to the HBV Program for convenience upon
[***] days’ prior written notice to Hookipa. Upon the termination of this Agreement with respect to the HBV Program in accordance
with this Section 13.4(a)(i), Gilead shall reimburse Hookipa in accordance with Section 9.6 at the FTE Rate for
the documented costs of any FTEs and Out-of-Pocket Costs reasonably incurred and directly arising from of Hookipa’s prompt wind-down
of the HBV Program for a reasonable period following the effective date of such termination; provided, that: (i) such period does
not exceed [***] months; and (ii) such costs do not exceed the expenses budgeted for the HBV Program in such period in accordance with
the HBV Research Plan.

 

(ii)            For
clarity, the termination of the HBV Program in accordance with Section 13.4(a)(i) shall not constitute a termination of this
Agreement with respect to any Development-Ready HBV Licensed Product.

 

(b)          Termination
of Agreement by Gilead for Convenience. On a Program-by-Program basis (including, for clarity, any new program(s) that may be included
in the Agreement after the Effective Date by mutual agreement of the Parties), at any time after the expiration or termination of the
Collaboration Term for such Program, Gilead shall have the right to terminate this Agreement with respect to such Program or on a Licensed
Product-by-Licensed Product or a country-by-country basis with respect to such Program for convenience upon [***] prior written notice
to Hookipa. Notwithstanding the generality of the foregoing, Gilead shall not have the right to terminate this Agreement with respect
to the HIV Development Program for convenience during the HIV Development Term.

 

13.5         Rights
in Bankruptcy.

 

(a)           The
Parties agree that this Agreement constitutes an executory contract under Section 365 of the Code for the license of “intellectual
property” as defined under Section 101 of the Code and constitutes a license of “intellectual property” for purposes
of any similar Applicable Laws in any other country in the Territory. The Parties further agree that Gilead, as licensee of such rights
under this Agreement, shall retain and may fully exercise all of its protections, rights, and elections under the Code, including under
Section 365(n) of the Code, and any similar Applicable Laws in any other country in the Territory.

 

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(b)           All rights, powers, and remedies of Gilead provided for in this Section 13.5 are in addition to and not in substitution
for any and all other rights, powers, and remedies now or hereafter existing at law or in equity (including under the Code and any similar
Applicable Laws in any other country in the Territory). Gilead, in addition to the rights, power, and remedies expressly provided herein,
shall be entitled to exercise all other such rights and powers and resort to all other such remedies as may now or hereafter exist at
law or in equity, including under the Code. The Parties agree that they intend the following Gilead rights to extend to the maximum extent
permitted by law, including for purposes of the Code, and the Hookipa Third Party Agreements: (i) the right of access to any Licensed
Technology (including all embodiments thereof), or any Third Party with whom Hookipa contracts to perform an obligation of Hookipa under
this Agreement which is necessary for the Research, Development, Manufacture, or Commercialization of Licensed Products in the Field in
the Territory; (ii) the right to contract directly with any Third Party described in paragraph (i) to complete the contracted work; and
(iii) the right to cure any breach of or default under any such agreement with a Third Party and set off or recoup the costs thereof against
amounts payable to Hookipa under this Agreement.

 

		14.	EFFECT OF TERMINATION

 

14.1          Termination
by Gilead Without Cause or by Hookipa for Material Breach by or Insolvency of Gilead. Upon termination of this Agreement by Gilead
pursuant to Section 13.4 or termination of this Agreement by Hookipa pursuant to Section 13.2 or Section 13.3
the following shall apply, but, in the case of termination by Gilead pursuant to Section 13.4 or any other partial termination
of this Agreement, solely with respect to the applicable Terminated Licensed Products:

 

(a)            all licenses granted by Hookipa to Gilead hereunder, including under Section 3.1(a) shall terminate;

 

(b)          
all licenses granted by Gilead to Hookipa hereunder, including under Section 3.1(b) shall terminate;

 

(c)            Gilead
shall be released from its Development and Commercialization obligations;

 

(d)           the provisions of Article 11 (other than Section 11.1) shall be terminated;

 

(e)           upon
receipt by Gilead from Hookipa of written notice within [***] days of the effective date of termination, the Parties shall enter into
good-faith negotiations with respect to the grant by Gilead to Hookipa of [***] license, under the Gilead Improvements, solely to Research,
Develop, Manufacture, and Commercialize any Licensed Products currently under Development or Commercialization pursuant to this Agreement
as of the effective date of termination. In the event that the Parties do not reach a definitive agreement with respect to such a license
within [***] days of receipt by Gilead from Hookipa of the written notice contemplated by this Section 14.1(e), then the
terms and conditions of such license shall be determined [***];

 

(f)            Gilead
shall reasonably cooperate with Hookipa or its Affiliates or any of their designees to facilitate an orderly and prompt transition of
the Research, Development, Manufacturing, and Commercialization activities with respect to the Licensed Products currently under Development
or Commercialization pursuant to this Agreement as of the effective date of termination;

 

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(g)           Gilead
shall, upon written request of Hookipa and subject to Hookipa assuming legal responsibility for any clinical trials of the Licensed Products
then ongoing as of the effective date of termination, transfer to Hookipa all Regulatory Filings and other regulatory documentation,
including regulatory dossiers, and Regulatory Approvals prepared or obtained by or on behalf of Gilead, in each case, relating solely
to any Licensed Products under Development or Commercialization pursuant to this Agreement prior to the date of such termination, to
the extent transferable;

 

(h)           Gilead,
its Affiliates, or its sublicensees shall cease all Commercialization of Licensed Products in a prompt manner and in accordance with
Applicable Laws; provided, however, that Gilead, its Affiliates, or its sublicensees shall be entitled, during the [***]-month
period following the effective date of a termination, to sell any commercial inventory of Licensed Products which remains on hand as
of the effective date of termination; provided, that Gilead pays to Hookipa the royalties and, if applicable, commercial Milestones
applicable to said subsequent sales in accordance with the terms and conditions set forth in this Agreement. Any commercial inventory
remaining following such [***]-month period shall be offered for sale to Hookipa, at a price to be mutually agreed upon between the Parties
in good faith;

 

(i)            solely in the case of termination of this Agreement in its entirety or with respect to the last Terminated Licensed Product,
Gilead shall return to Hookipa or, on Hookipa’s request, destroy all records and materials in its possession or control that contain
or comprise Hookipa Know-How or other Confidential Information of Hookipa and, if Hookipa does not timely provide notice to Gilead pursuant
to Section 14.1(e), Hookipa shall return to Gilead or, on Gilead’s request, destroy all records and materials in its
possession or control that contain or comprise Gilead’s Know-How or other Confidential Information of Gilead; and

 

(j)            solely
in the case of termination of this Agreement in its entirety, any and all sublicense agreements entered into by Gilead or any of its
Affiliates with a sublicensee pursuant to this Agreement shall survive the termination of this Agreement, except to the extent that any
such sublicensee under any sublicense is in material breach of this Agreement or such sublicense or Hookipa elects to grant such sublicensee
a direct license of the sublicensed rights on the same terms applicable to Gilead under this Agreement. Gilead shall, at the request
of Hookipa, assign any such sublicense (to the extent not terminated pursuant to the preceding sentence) to Hookipa or its Affiliates
and, upon such assignment, Hookipa or its Affiliates, as applicable, shall assume such sublicense. For clarity, any sublicense agreement
entered into by Gilead with any of its Affiliates shall terminate upon the termination of this Agreement.

 

14.2          Termination
by Gilead for Material Breach by or Insolvency of Hookipa. Upon termination of this Agreement by Gilead pursuant to Section 13.2
or Section 13.3 the following shall apply, but, in the case of a partial termination of this Agreement, solely with respect
to the applicable Terminated Licensed Products:

 

(a)            all rights and licenses granted by Gilead to Hookipa hereunder, including under Section 3.1(b), shall terminate;

 

(b)           Gilead
shall be released from its Development and Commercialization obligations;

 

(c)           in
the event the Option Period has not expired before, the Option Period shall terminate and Gilead may exercise the Option at any time
prior to the effective date of termination, provided, that with respect to the Program Completion Fee, Gilead shall only be obligated
to pay to Hookipa [***] of the amount of the Program Completion Fee otherwise payable under Section 9.6(b)(ii);

 

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(d)           the
license granted to Gilead under Section 3.1(a) shall remain in effect and shall become perpetual and all payment obligations
under Article 9 shall remain in effect; provided, that with respect to royalties and Milestones arising after the
effective date of termination, Gilead shall only be obligated to pay to Hookipa [***] of the amounts otherwise payable under Sections 9.2
and 9.3 as they become due;

 

(e)           Gilead’s
rights and Hookipa’s obligations pursuant to Sections 11.2, 11.3, and 11.4 shall survive;

 

(f)           
solely in the case of termination of this Agreement in its entirety or with respect to the last Terminated Licensed Product,
Hookipa shall return to Gilead or, on Gilead’s request, destroy all records and materials in its possession or control that contain
or comprise Gilead’s Know-How or other Confidential Information of Gilead; and

 

(g)           upon
Gilead’s request, Hookipa shall use commercially reasonable efforts to facilitate and otherwise assist Gilead in any negotiations
for a direct license to the Licensed Technology licensed under any of the Hookipa Third Party Agreements.

 

14.3         Survival. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing
prior to such expiration or termination. Without limiting the foregoing, the provisions of Articles 1, 10, 14,
and 18, Sections 2.4(d), 3.1(a) (with respect to the last sentence thereof), 3.4, 3.5 (in the case of
termination by Gilead pursuant to Sections 13.2 or 13.3), 9.7, 9.8, 11.1, 12.7, 13.5 (in
the case of termination for an insolvency event of Hookipa), 15.5, 16.1, 16.2, 16.3, 16.4, 16.5,
16.6, and 17.2, and any other obligations and rights which are expressly intended to survive, shall survive expiration or
termination of this Agreement. The provisions of Article 12 shall survive the termination or expiration of this Agreement
for a period of [***] years.

 

14.4          Termination Not Sole Remedy. Termination is not the sole remedy under this Agreement and, whether or not termination
is effected and notwithstanding anything contained in this Agreement to the contrary, all other remedies shall remain available except
as agreed to otherwise herein.

 

		15.	REPRESENTATIONS, WARRANTIES, AND COVENANTS

 

15.1          Representations
and Warranties by Each Party. Each Party represents and warrants to the other Party, as of the Effective Date, that:

 

(a)           it
is a corporation duly organized, validly existing, and, in the case of Gilead, in good standing under the laws of its jurisdiction of
formation;

 

(b)           it
has full corporate power and authority to execute, deliver, and perform this Agreement, and has taken all corporate action required by
Applicable Law and its organizational documents to authorize the execution and delivery of this Agreement and the consummation of the
transactions contemplated by this Agreement;

 

(c)            this Agreement constitutes a valid and binding agreement enforceable against it in accordance with its terms;

 

(d)          
all consents, approvals, and authorizations from all governmental authorities or other Third Parties required to be obtained
by such Party in connection with the execution and delivery of this Agreement have been obtained; and

 

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(e)           the execution and delivery of this Agreement and all other instruments and documents required to be executed pursuant to
this Agreement do not and shall not: (i) conflict with or result in a breach of any provision of its organizational documents; (ii) result
in a breach of any agreement to which it is a party (including, in the case of Hookipa, any Hookipa Third Party Agreement); or (iii) violate
any Applicable Law.

 

15.2          Representations and Warranties by Hookipa. Hookipa represents and warrants to Gilead (i) as of the Original Effective
Date and, as applicable, based on Hookipa’s Knowledge as of the Original Effective Date; and (ii) in the case of clauses (b), (d),
(g), (j), (k) (solely with respect to the HIV Development Plan instead of the Research Plans), (n) and (s), as of the Option Exercise
Date and, as applicable, based on Hookipa’s Knowledge as of the Option Exercise Date and unless otherwise disclosed to Gilead in
the Option Exercise Data Package, that:

 

(a)           Exhibit C
sets forth a complete and accurate list of all Hookipa Patent Rights as of the Original Effective Date (including whether such Hookipa
Patent Rights are owned or otherwise Controlled by Hookipa) and, in the case of licensed Hookipa Patent Rights, a reference to the relevant
Hookipa Third Party Agreement set forth in Schedule 9.5(a);

 

(b)           Hookipa directly, or through its wholly-owned subsidiaries, is the sole and exclusive owner or otherwise Controls all of
the Hookipa Patent Rights set forth on Exhibit C, and, with respect to all owned Hookipa Patent Rights, is listed in the appropriate
patent registries as the sole and exclusive owner of record for each registration, grant, and application set forth on Exhibit C
and such owned Hookipa Patent Rights are free from Encumbrances;

 

(c)           each named inventor with respect to all of the Hookipa Patent Rights set forth on Exhibit C has properly assigned
his or her invention(s) to Hookipa or the applicable Third Party licensor under the applicable Hookipa Third Party Agreement;

 

(d)           Hookipa has the right to grant to Gilead and its Affiliates the licenses under the Licensed Technology that Hookipa purports
to grant hereunder;

 

(e)           Hookipa
has the right to use and disclose and to enable Gilead and its Affiliates to use and disclose (in each case, under appropriate conditions
of confidentiality) the Hookipa Know-How to be licensed to Gilead as provided under the Original Collaboration Agreement;

 

(f)            to the Knowledge of Hookipa, the issued Hookipa Patent Rights set forth on Exhibit C are valid and enforceable
without any claims, challenges, oppositions, interference, or other similar proceedings, pending or threatened;

 

(g)           Hookipa
has Prosecuted and Maintained patent applications within the Hookipa Patent Rights set forth on Exhibit C in good faith and
complied with all duties of disclosure with respect thereto;

 

(h)           each of Hookipa and, to the Knowledge of Hookipa, the Third Party licensors under the Hookipa Third Party Agreements, have
not committed any act, or omitted to commit any act, that may cause the Hookipa Patent Rights set forth on Exhibit C to expire
prematurely or be declared invalid or unenforceable;

 

(i)            all
application, registration, maintenance, and renewal fees due as of the Original Effective Date with respect to all Hookipa Patent Rights
set forth on Exhibit C have been paid and all necessary documents and certificates have been filed with the relevant patent
registries for the purpose of maintaining such Hookipa Patent Rights;

 

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(j)            Hookipa has not granted to any Third Party any rights to the Licensed Technology that would interfere or be inconsistent
with rights granted to Gilead hereunder;

 

(k)           to
the Knowledge of Hookipa, the exploitation of the Licensed Technology for the purpose of: (i) the Research, Development, and Manufacture
of Licensed Products as contemplated by the Research Plans (as in effect on the Original Effective Date) and the HIV Development Plan
(as of the Option Exercise Date); and (ii) the Commercialization of Licensed Products contemplated to arise therefrom, will not infringe
the Patent Rights or misappropriate the trade secrets or proprietary rights of any Third Party; Hookipa makes no representation or warranty
under this paragraph (k) with respect to any [***] owned or otherwise Controlled by any Third Parties;

 

(l)            to the Knowledge of Hookipa, no Third Party is infringing or misappropriating any of the Licensed Technology, nor has Hookipa
received any written notice regarding such infringement, violation, or misappropriation;

 

(m)           Hookipa has not entered into a government funding relationship that would result in rights to any Licensed Technology residing
in the U.S. Government, National Institutes of Health, National Institute for Drug Abuse, or other agency, and the licenses granted hereunder
are not subject to overriding obligations to the U.S. Government as set forth in Public Law 96-517 (35 U.S.C. 200-204), or any
similar obligations under the laws of any other country;

 

(n)           Schedule 9.5(a) sets forth a complete and accurate list of all agreements (as in effect on the Effective Date)
by and between, on the one hand, Hookipa or any of its Affiliates and, on the other hand, a Third Party, pursuant to which Hookipa or
its Affiliates in-licensed Licensed Technology that is sublicensed to Gilead under the Original Collaboration Agreement or this Agreement.
Hookipa has provided Gilead true, correct, and complete copies of each Hookipa Third Party Agreement which is set forth in Schedule 9.5(a).
Each such Hookipa Third Party Agreement is in full force and effect, and there has been no Default of or under any such Hookipa Third
Party Agreement as a result of any action or omission of Hookipa or its Affiliates or, to the Knowledge of Hookipa, the actions or omissions
of any Third Party. Hookipa has not waived any of its rights under any such Hookipa Third Party Agreement to which it is party;

 

(o)          all
of Hookipa’s employees, officers, and consultants who have been involved with the development of Licensed Technology have executed
agreements or have existing obligations under Applicable Laws requiring assignment to Hookipa of all inventions made during the course
of and as the result of their association with Hookipa, free from Encumbrances, and obligating the individual to maintain as confidential
Hookipa’s Confidential Information as well as the confidential information of other parties (including the Confidential Information
of Gilead and its Affiliates) which such individual has received prior to the Original Effective Date;

 

(p)           (i)
neither Hookipa nor, to the Knowledge of Hookipa, any employee, agent, or subcontractor of Hookipa involved or to be involved in the
Research or Development of the Licensed Products has been debarred under subsection (a) or (b) of Section 306 of the FDCA; (ii)
no Person who is known by Hookipa to have been debarred under subsection (a) or (b) of Section 306 of the FDCA shall be
employed by Hookipa in the performance of any activities under the Original Collaboration Agreement or this Agreement; and (iii) to
the Knowledge of Hookipa, no Person on any of the FDA clinical investigator enforcement lists (including the (1)
Disqualified/Totally Restricted List, (2) Restricted List, and (3) Adequate Assurances List) shall participate in the performance of
any activities under the Original Collaboration Agreement or this Agreement;

 

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(q)           Hookipa has maintained intellectual property protection guidelines within its organization and, to the Knowledge of Hookipa,
there has not been any unauthorized disclosure of intellectual property rights, including Know-How, to any Third Party;

 

(r)            all activities conducted by or on behalf of Hookipa with respect to the Licensed Technology have been conducted in accordance
with Applicable Laws and regulations, including GLP, GCP, and GMP, as applicable; and

 

(s)            Hookipa has responded in good faith to all of Gilead’s written requests for materials and information in connection
with Gilead’s due diligence efforts with respect to the Original Collaboration Agreement, and it has no Knowledge of any failure
to disclose to Gilead any fact or circumstance known to Hookipa and relating to any of the Licensed Technology that would be reasonably
expected to be material to Gilead in connection with the Original Collaboration Agreement or the transactions contemplated therein.

 

15.3         Covenants of Hookipa. Hookipa covenants and agrees that:

 

(a)           it
shall not grant any interest in the Licensed Technology which is inconsistent with the terms and conditions of this Agreement, nor shall
it assign any of its rights, title, or interests in or to the Licensed Technology to any Third Party except as permitted in Section 18.1;

 

(b)           it
shall: (i) maintain Control of all Licensed Technology licensed or sublicensed to Gilead under each Hookipa Third Party Agreement; and
(ii) not terminate, breach, or otherwise Default under any Hookipa Third Party Agreement in a manner that would permit the counterparty
thereto to terminate such Hookipa Third Party Agreement or otherwise diminish the scope or exclusivity of the licenses granted to Gilead
under any Licensed Technology;

 

(c)           
if Hookipa receives notice of an alleged Default by Hookipa or its Affiliates under any such Hookipa Third Party Agreement,
where termination of such Hookipa Third Party Agreement or any diminishment of the scope or exclusivity of the licenses granted to Gilead
under the Licensed Technology is being or could be sought by the counterparty or result from such Default, then Hookipa shall promptly,
but in no event less than [***] Business Days thereafter, provide written notice thereof to Gilead and grant Gilead the right (but not
the obligation) to: (i) cure such alleged breach; and (ii) offset any costs or expenses incurred in connection therewith against any payments
due or that may become due hereunder or under the Original Collaboration Agreement;

 

(d)           it shall not modify, amend, or terminate any Hookipa Third Party Agreement, or exercise, waive, release, or assign any rights
or claims thereunder, without first obtaining, in each case, Gilead’s prior written consent;

 

(e)          
all of Hookipa’s employees, officers, and consultants who shall perform activities under this Agreement have executed
or will execute agreements or have existing obligations under Applicable Laws requiring assignment to Hookipa of all inventions made during
the course of and as the result of their association with Hookipa, free from Encumbrances, and obligating the individual to maintain as
confidential Hookipa’s Confidential Information as well as the confidential information of other parties (including the Confidential
Information of Gilead and its Affiliates) which such individual may receive, to the extent required to support Hookipa’s obligations
under this Agreement;

 

(f)            if, at any time after execution of this Agreement, Hookipa becomes aware that it or any employee, agent, or subcontractor
of Hookipa who participated, or is participating, in the performance of any activities hereunder is on, or is being added to, the FDA
Debarment List, it shall provide written notice of this to Gilead within [***] Business Days of its becoming aware of this fact;

 

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(g)           it shall perform all activities under this Agreement in compliance with all Applicable Laws and regulations, including GCP,
GLP, or GMP, where applicable, and those relating to the conduct of human clinical trials, animal testing, biotechnological research,
and the handling and containment of biohazardous materials, and Applicable Laws relating to health, safety, and the environment, fair
labor practices, and unlawful discrimination; and

 

(h)           it shall maintain sufficient security systems and intellectual property protection guidelines within its organization equivalent
to international industry standards and qualified to avoid any unauthorized disclosure of intellectual property rights, including Know-How,
to any Third Party, as more specifically agreed with Gilead hereunder.

 

15.4          Further Representations, Warranties, and Covenants of Gilead. Gilead further represents, warrants, and covenants
to Hookipa:

 

(a)            at any time during the Term, Gilead shall maintain sufficient security systems and intellectual property protection guidelines
within its organization equivalent to international industry standards and qualified to avoid any unauthorized disclosure of intellectual
property rights, including Know-How, to any Third Party;

 

(b)            (i) as of the Effective Date and at any time during the Term, all of its employees and officers who shall perform activities
under the applicable Plan; and (ii) during the HBV Collaboration Term, Gilead shall use Commercially Reasonable Efforts to ensure that
all of its consultants who shall perform activities under the applicable HBV Research Plan, in each case ((i) and (ii)), have executed
or will execute agreements or have existing obligations under Applicable Laws requiring assignment to Gilead of all inventions made during
the course of and as the result of their association with Gilead, free from Encumbrances, and obligating the individual to maintain as
confidential Gilead’s Confidential Information as well as the confidential information of other parties (including the Confidential
Information of Hookipa and its Affiliates) which such individual may receive, to the extent required to support Gilead’s obligations
under this Agreement; and

 

(c)             as
of the Effective Date and at any time during the Term, Gilead shall perform all activities under this Agreement in compliance with all
Applicable Laws and regulations, including GCP, GLP, GMP, and those relating to the conduct of human clinical trials, animal testing,
biotechnological research, and the handling and containment of biohazardous materials, and Applicable Laws relating to health, safety,
and the environment, fair labor practices, and unlawful discrimination.

 

15.5         No Other Warranties. EXCEPT AS EXPRESSLY STATED IN THIS ARTICLE 15: (A) NO REPRESENTATION, CONDITION,
OR WARRANTY WHATSOEVER IS MADE OR GIVEN BY OR ON BEHALF OF GILEAD OR HOOKIPA; AND (B) ALL OTHER CONDITIONS AND WARRANTIES WHETHER
ARISING BY OPERATION OF LAW OR OTHERWISE ARE HEREBY EXPRESSLY EXCLUDED, INCLUDING ANY CONDITIONS AND WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

 

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		16.	INDEMNIFICATION; LIABILITY

 

16.1          Indemnification by Hookipa. Hookipa shall indemnify and hold Gilead, its Affiliates, and their respective officers,
directors, and employees (the “Gilead Indemnitees”) harmless from and against any and all liability, damage, loss,
cost, or expense of any nature (including reasonable attorney’s fees and litigation expenses) (“Losses”) incurred
by or imposed upon the Gilead Indemnitees or any of them in connection with any claim, suit, action, demand, proceeding, cause of action,
or judgment resulting from a Third Party claim (“Claims”), in each case, to the extent arising or resulting from:

 

(a)            Hookipa’s, or any of its Affiliates’ or contractors’ activities in connection with: (i) the Programs;
(ii) the Manufacture of Licensed Products; (iii) other activities under this Agreement; or (iv) following the Option Decline Date, the
subsequent exploitation of HB-500 Program Candidates, HB-500 Program Products, or any results of the HIV Program;

 

(b)           the
negligence or willful misconduct of Hookipa or any of its Affiliates or contractors; or

 

(c)          
the breach of any of the obligations, covenants, representations, or warranties made by Hookipa to Gilead under this Agreement;

 

provided, however,
that Hookipa shall not be obliged to so indemnify and hold harmless the Gilead Indemnitees for any Claims to the extent Gilead has an
obligation to indemnify Hookipa Indemnitees pursuant to Section 16.2 or to the extent that such Claims arise from the breach,
negligence, or willful misconduct of Gilead or any Gilead Indemnitee.

 

16.2          Indemnification
by Gilead. Gilead shall indemnify and hold Hookipa, its Affiliates, and their respective officers, directors, and employees (the
 “Hookipa Indemnitees”) harmless from and against any and all Losses incurred by or imposed upon the Hookipa Indemnitees
or any of them in connection with any Claims, in each case, to the extent arising or resulting from:

 

(a)            Gilead’s,
or any of its Affiliates’, sublicensees’, or contractors’ activities in connection with the: (i) Programs; (ii) Development,
Manufacture, or Commercialization of the Licensed Products in the Field in the Territory; or (iii) other activities under this Agreement;

 

(b)           the
negligence or willful misconduct of Gilead or any of its Affiliates or sublicensees or contractors; or

 

(c)          
the breach of any of the obligations, covenants, representations, or warranties made by Gilead to Hookipa under this Agreement;

 

provided, however,
that Gilead shall not be obliged to so indemnify and hold harmless the Hookipa Indemnitees for any Claims to the extent Hookipa has an
obligation to indemnify Gilead Indemnitees pursuant to Section 16.1 or to the extent that such Claims arise from the breach,
negligence, or willful misconduct of Hookipa or any Hookipa Indemnitee.

 

16.3         
Indemnification Procedure.

 

(a)           For the avoidance of doubt, all indemnification claims in respect of a Gilead Indemnitee or a Hookipa Indemnitee shall be
made solely by Gilead or Hookipa, respectively.

 

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(b)           A
Party seeking indemnification hereunder (the “Indemnified Party”) shall notify the other Party (the “Indemnifying
Party”) in writing reasonably promptly after the assertion against the Indemnified Party of any Claim or fact in respect of
which the Indemnified Party intends to base a claim for indemnification hereunder (each, an “Indemnification Claim Notice”);
provided, that the failure or delay to so notify the Indemnifying Party shall not relieve the Indemnifying Party of any obligation
or liability that it may have to the Indemnified Party, except to the extent that the Indemnifying Party demonstrates that its ability
to defend or resolve such Claim is adversely affected thereby. The Indemnification Claim Notice shall contain a description of the Claim
and the nature and amount of the Claim (to the extent that the nature and amount of such Claim is known at such time). Upon the request
of the Indemnifying Party, the Indemnified Party shall furnish promptly to the Indemnifying Party copies of all correspondence, communications
and official documents (including court documents) received or sent in respect of such Claim.

 

(c)           Subject to Sections 16.3(d) and 16.3(e), the Indemnifying Party shall have the right, upon written notice
given to the Indemnified Party within [***] days after receipt of the Indemnification Claim Notice, to assume the defense and handling
of such Claim, at the Indemnifying Party’s sole expense, in which case the provisions of Section 16.3(d) below shall
govern; provided, that any such Claim is only for monetary damages. The assumption of the defense of a Claim by the Indemnifying
Party shall not be construed as acknowledgement that the Indemnifying Party is liable to indemnify any Indemnitee in respect of the Claim,
nor shall it constitute a waiver by the Indemnifying Party of any defenses it may assert against any Indemnified Party’s claim for
indemnification. In the event that it is ultimately decided that the Indemnifying Party is not obligated to indemnify or hold an Indemnitee
harmless from and against the Claim, the Indemnified Party shall reimburse the Indemnifying Party for any and all reasonable costs and
expenses (including reasonable attorneys’ fees and costs of suit) and any losses incurred by the Indemnifying Party in its defense
of the Claim. If the Indemnifying Party does not give written notice to the Indemnified Party, within [***] days after receipt of the
Indemnification Claim Notice, of the Indemnifying Party’s election to assume the defense and handling of such Claim, the provisions
of Section 16.3(e) shall govern.

 

(d)           Upon
assumption of the defense of a Claim by the Indemnifying Party: (i) the Indemnifying Party shall have the right to and shall assume sole
control and responsibility for dealing with the Claim; (ii) the Indemnifying Party may, at its own cost, appoint as counsel in connection
with conducting the defense and handling of such Claim any law firm or counsel reasonably selected by the Indemnifying Party; (iii) the
Indemnifying Party shall keep the Indemnified Party informed of the status of such Claim; and (iv) the Indemnifying Party shall have
the right to settle the Claim on any terms the Indemnifying Party chooses; provided, however, that it shall not, without
the prior written consent of the Indemnified Party (such consent not to be unreasonably withheld, conditioned, or delayed), agree to
a settlement of any Claim which could lead to liability or create any financial or other obligation on the part of the Indemnified Party
for which the Indemnified Party is not entitled to indemnification hereunder or which admits any wrongdoing or responsibility for the
claim on behalf of the Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party and shall be entitled to
participate in, but not control, the defense of such Claim with its own counsel and at its own expense. In particular, the Indemnified
Party shall furnish such records, information, and testimony, provide witnesses, and attend such conferences, discovery proceedings,
hearings, trials, and appeals as may be reasonably requested in connection therewith. Such cooperation shall include access during normal
business hours by the Indemnifying Party to, and reasonable retention by the Indemnified Party of, records and information that are reasonably
relevant to such Claim, and making the Indemnified Party, the Indemnitees and its and their employees and agents available on a mutually
convenient basis to provide additional information and explanation of any records or information provided.

 

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(e)            If the Indemnifying Party does not give written notice to the Indemnified Party as set forth in Section 16.3(c)
or fails to conduct the defense and handling of any Claim in good faith after having assumed such, the Indemnified Party may, at the Indemnifying
Party’s expense, select counsel reasonably acceptable to the Indemnifying Party in connection with conducting the defense and handling
of such Claim and defend or handle such Claim in such manner as it may deem appropriate. In such event, the Indemnified Party shall keep
the Indemnifying Party timely apprised of the status of such Claim and shall not settle such Claim without the prior written consent of
the Indemnifying Party, which consent shall not be unreasonably withheld, conditioned, or delayed. If the Indemnified Party defends or
handles such Claim, the Indemnifying Party shall cooperate with the Indemnified Party, at the Indemnified Party’s request but at
no expense to the Indemnified Party, and shall be entitled to participate in the defense and handling of such Claim with its own counsel
and at its own expense.

 

16.4         Mitigation of Loss. Each Indemnified Party shall take and shall procure that its Affiliates take all such reasonable
steps and action as are necessary or as the Indemnifying Party may reasonably require in order to mitigate any Claims (or potential losses
or damages) under this Article 16. 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.

 

16.5          Special,
Indirect and Other Losses. NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY
DUTY, OR OTHERWISE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OR FOR ANY LOSS OF PROFITS SUFFERED BY THE
OTHER PARTY, EXCEPT TO THE EXTENT ANY SUCH DAMAGES ARE: [***].

 

16.6         No Exclusion. Neither Party excludes any liability for death or personal injury caused by its negligence or willful
misconduct or that of its officers, directors, employees, agents, sublicensees, or sub-contractors.

 

16.7          Insurance.
Each Party shall maintain, at its cost, insurance against liability and other risks associated with its activities and obligations under
this Agreement, in such amounts and on such terms as are customary for a company such as the respective Party for the activities to be
conducted by it under this Agreement. Each Party shall furnish to the other Party evidence of such insurance upon request. 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 16.

 

		17.	PUBLICATIONS AND PUBLICITY

 

17.1          Publications.

 

(a)           Except to the extent made in accordance with the provisions of Article 12 or Section 17.2, any proposed
public disclosure (whether written, electronic, oral, or otherwise) by Hookipa or any of its Affiliates relating to the Licensed Products
shall require, in each case, the prior written consent of Gilead (such consent not to be unreasonably withheld, conditioned, or delayed).

 

(b)           For
the avoidance of doubt, Gilead or any of its Affiliates shall have the sole right, without any required consents from Hookipa, but, to
the extent practicable, with at least [***] days’ prior written notice to Hookipa, to publish or have published information about
clinical trials related to the Licensed Products, including the results of such clinical trials, or other activities under this Agreement.
This Section 17.1(b) shall not affect the rights or obligations of the Parties pursuant to Article 12.

 

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17.2          Publicity.

 

(a)           Use of Name. Unless otherwise provided in this Agreement, neither Party shall use the name, symbol, trademark, trade
name, or logo of the other Party or its Affiliates in any press release, publication, or other form of public disclosure without, in
each case, first obtaining the prior written consent of the other Party (such consent not to be unreasonably withheld, conditioned, or
delayed).

 

(b)           Press Releases. On or promptly after the Effective Date, the Parties shall issue a public announcement of the execution
of this Agreement in the form attached hereto as Schedule 17.2(b). Except as provided in this Section 17.2(b)
or in Article 12, each Party agrees not to issue any press release or other public statement, whether written, electronic,
oral, or otherwise, disclosing the existence of this Agreement, the terms of this Agreement, or any information relating to this Agreement
without, in each case, first obtaining the prior written consent of the other Party, which consent shall not be unreasonably withheld,
conditioned, or delayed; provided, however, that: (i) Gilead may issue press releases and other public statements as it
deems reasonably appropriate in connection with the Research, Development, Manufacture, or Commercialization of Licensed Products under
this Agreement without such consent, but, to the extent practicable, with at least [***] Business Days’ prior written notice to
Hookipa; (ii) Hookipa and any of its Affiliates may issue press releases and other public statements as it deems reasonably appropriate
to communicate the receipt of Regulatory Approval for any Licensed Product or the receipt of any Milestone Payment or royalty payments
from Gilead pursuant to Section 9.2 or Section 9.3, including the corresponding triggering event, without such
consent, but, to the extent practicable, with at least [***] Business Days’ prior written notice to Gilead; provided, that
such press release or statement by Hookipa or its Affiliates shall not disclose the amount of such Milestone Payment or royalty payment;
and (iii) without limiting the foregoing clauses (i) and (ii), the Parties shall discuss in good faith from time to time the advisability
of joint or individual press releases with respect to any material progress of a Program or the Research, Development, Manufacture, or
Commercialization of Licensed Products under this Agreement; provided, that the issuance and substance of any such press release
contemplated by this clause (iii) shall be subject to mutual agreement of the Parties.

 

(c)           Re-Publication.
Nothing in Article 12 or this Article 17 (but subject to the Parties’ other obligations under this Agreement)
shall prohibit either Party or its Affiliates from including, in future publications or press releases, any information that was previously
publicly disclosed by the other Party or its Affiliates (other than by breach of this Agreement). Any authorization by a Party for information
to be publicly disclosed in any publication or press release of the other Party or its Affiliates shall be valid for [***] days.

 

		18.	GENERAL PROVISIONS

 

18.1         Assignment. This Agreement may not be assigned or otherwise transferred by either Party without the prior written
consent of the other Party; provided, however, that either Party may assign this Agreement or individual rights or obligations
thereunder without the consent of the other Party: (a) to any of its Affiliates; or (b) to a successor to all or substantially all of
its business or assets to which this Agreement relates. Any purported assignment in contravention of this Section 18.1 shall
be null and void and of no effect. No assignment shall release either Party from responsibility for the performance of its accrued obligations
under this Agreement and upon any such assignment, the assigning Party shall remain liable for the performance of this Agreement and for
any acts or omissions of its assignee or its successor constituting a breach of this Agreement. This Agreement shall be binding upon and
enforceable against the successor to or any permitted assignees from either of the Parties.

 

18.2         Extension
to Affiliates. Gilead shall have the right to extend the rights, immunities, and obligations granted in this Agreement to one
(1) or more of its Affiliates. All applicable terms and provisions of this Agreement shall apply to any such Affiliate to which this
Agreement has been extended to the same extent as such terms and provisions apply to Gilead. Gilead shall remain primarily liable
for any acts or omissions of its Affiliates.

 

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18.3          Severability. To the extent permitted under any Applicable Laws, each provision of this Agreement shall be interpreted
in such manner as to be effective and valid under Applicable Laws, but should one (1) or more of the provisions of this Agreement become
void or unenforceable as a matter of law, then such provision(s) shall be void and unenforceable only to the extent of such invalidity
or unenforceability, without invaliding the remainder of this Agreement. In such case, this Agreement shall be construed as if such provision(s)
were not contained herein and the remainder of this Agreement shall be in full force and effect, and the Parties shall use their commercially
reasonable efforts to substitute for the invalid or unenforceable provision a valid and enforceable provision which conforms as nearly
as possible with the original intent of the Parties.

 

18.4          Governing
Law and Waiver of Jury Trial.

 

(a)           This Agreement and any dispute arising from the performance or breach hereof shall be governed by and interpreted in accordance
with the laws of the State of New York, without giving effect to the application of any conflict of laws principles that would require
application of the laws of another jurisdiction. The provisions of the United Nations Convention on Contracts for the International Sale
of Goods shall not apply to this Agreement or any subject matter hereof.

 

(b)           THE
PARTIES HEREBY WAIVE, AND COVENANT THAT THEY SHALL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT, OR OTHERWISE), ANY RIGHT TO TRIAL BY
JURY IN ANY ACTION ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER ARISING,
AND WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT
AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY, AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE ITS RIGHT TO TRIAL
BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION
BY A JUDGE SITTING WITHOUT A JURY.

 

18.5          Dispute Resolution; Rules of Arbitration.

 

(a)           Initial
Dispute Resolution Process. Except as otherwise set forth in this Agreement, in the event of an unresolved matter, dispute, or issue
which relates to the breach or alleged breach or interpretation of this Agreement (each, a “Dispute”) or which this
Agreement expressly provides shall be resolved in accordance with this Section 18.5 (each, a “Selected Dispute”),
the Parties shall refer the Dispute or Selected Dispute to the Alliance Managers for discussion and resolution. If the Alliance Managers
are unable to resolve such Dispute or Selected Dispute within [***] days of the Dispute or Selected Dispute being referred to them by
either Party in writing, either Party may require that the Parties forward the matter to the Senior Officers (or designees with similar
authority to resolve such dispute), who shall attempt in good faith to resolve such Dispute or Selected Dispute. If the Senior Officers
cannot resolve such Dispute or Selected Dispute within [***] days of the matter being referred to them in writing, then the Dispute or
Selected Dispute shall be resolved as provided in Sections 18.5(b), 18.5(c), or 18.5(e), as applicable.

 

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(b)           Arbitration.
Any unresolved Dispute or Selected Dispute between the Parties arising out of or in connection with this Agreement shall be resolved
by final and binding arbitration. Whenever a Party decides to institute arbitration proceedings, it shall give written notice to
that effect to the other Party. Arbitration shall be held in New York, New York, according to the Rules of Arbitration of the
International Chamber of Commerce (“ICC Rules”) in effect at the Effective Date, except as they may be modified
herein or by mutual agreement of the Parties. All arbitration proceedings shall be conducted by three (3) arbitrators unless
otherwise mutually agreed by the Parties. The claimant and the respondent shall each nominate an arbitrator in accordance with the
ICC Rules, and the third arbitrator, who shall be the president of the arbitral tribunal, shall be appointed by the two (2)
Party-appointed arbitrators in consultation with the Parties. The arbitrators shall: (i) be disinterested, neutral, and independent
from both Parties and all of their respective Affiliates; and (ii) have the requisite experience and expertise in licensing and
partnering agreements in the pharmaceutical and biotechnology industries, shall have appropriate experience with respect to the
subject matter(s) to be arbitrated, and shall have some experience in mediating or arbitrating issues relating to such agreements.
In the case of any Dispute involving an alleged failure to use Commercially Reasonable Efforts, the arbitrators shall in addition be
an individual with experience and expertise in the worldwide development and commercialization of pharmaceuticals and the business,
legal and scientific considerations related thereto. The arbitrators shall have the authority to engage additional experts as
necessary in order to facilitate resolution of the Dispute or Selected Dispute, as applicable.

 

(c)          
Selected Dispute Arbitration. Within [***] days after the arbitrators for a Selected Dispute are nominated or appointed
pursuant to Section 18.5(b), each Party shall provide the arbitrators a proposal and written memorandum in support of its position
regarding the Selected Dispute, including its specific proposal to resolve the Selected Dispute, as well as any documentary evidence it
wishes to provide in support thereof (each, a “Brief”), and the arbitrators shall provide each Party’s Brief
to the other Party after it receives a Brief from each Party. Within [***] days after a Party submits its Brief, the other Party shall
have the right to respond thereto. The response and any material in support thereof (each, a “Response”) will be provided
to the arbitrators and the other Party. The arbitrators shall have the right to meet with the Parties as necessary to inform the arbitrators’
determination and to perform independent research and analysis. Within [***] days of the receipt by the arbitrators of both Parties’
Responses (or expiration of the [***]-day period if any Party fails to submit a Response), the arbitrators shall deliver their decision
regarding the Selected Dispute in writing; provided, that the arbitrators shall select one (1) of the resolutions proposed by the
Parties which corresponds with, or comes closer to, the determination of the arbitrators.

 

(d)           Confidentiality; Awards. The Parties undertake to maintain confidentiality in accordance with Article 12
as to the existence of the arbitration proceedings and as to all submissions, correspondence, evidence, and findings relating to the arbitration
proceedings. Sections 18.5(b) and 18.5(c) shall survive the termination of the arbitral proceedings. No arbitrator
(nor any arbitral tribunal) shall have the power to award punitive damages under this Agreement, and such award is expressly prohibited.
Decisions of the arbitrator(s) shall be final and binding on the Parties. Judgment on the award so rendered may be entered in any court
of competent jurisdiction. The costs of the arbitration shall be shared by the Parties during the course of such arbitration, as assessed
by the International Chamber of Commerce, and shall be borne as determined by the arbitrator(s).

 

(e)           Preliminary
Injunctive Relief. Notwithstanding anything to the contrary, either Party may at any time seek to obtain preliminary injunctive relief
or other applicable provisional relief from a court of competent jurisdiction with respect to an issue arising under this Agreement if
the rights of such Party would be prejudiced absent such relief. A request by a Party to a court of competent jurisdiction for interim
measures necessary to preserve the Party’s rights, including attachments or injunctions, shall not be deemed incompatible with,
or a waiver of, the agreement to mediate or arbitrate contained in this Section 18.5, or the availability of interim measures
of protection under the ICC Rules. Notwithstanding anything to the contrary in this Section 18.5, any disputes regarding
the scope, validity, enforceability, or inventorship of any Patent Rights shall be submitted for final resolution by a court of competent
jurisdiction.

 

    63

     

    

 

18.6         Force
Majeure. Neither Party shall be responsible to the other for any failure or delay in performing any of its obligations under this
Agreement or for other nonperformance hereunder if such delay or nonperformance is caused by strike, stoppage of labor, lockout or other
labor trouble, earthquake, fire, flood, accident, war, act of terrorism, act of God or of the government of any country or of any local
government, or by any other cause unavoidable or beyond the control of any Party. In such event, the Party affected shall provide the
other Party with written notice of the full particulars of the force majeure event as soon as it becomes aware thereof, including its
best estimate of the likely extent and duration of the interference with its activities, and shall use Commercially Reasonable Efforts
to resume performance of its obligations as soon as practicable.

 

18.7         Waivers
and Amendments. The failure of any Party to assert a right hereunder or to insist upon compliance with any term or condition of this
Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by
the other Party. No waiver shall be effective unless it has been given in writing and signed by the Party giving such waiver. No provision
of this Agreement may be amended or modified other than by a written document signed by authorized representatives of each Party.

 

18.8          Relationship of the Parties. Nothing contained in this Agreement shall be deemed to constitute a partnership,
joint venture, agency, employee-employer relationship, or legal entity of any type between Hookipa and Gilead, or to constitute one as
the agent of the other. Each Party agrees not to construe this Agreement, or any of the transactions contemplated hereby, as a partnership
for any tax purposes. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give
any Party the power or authority to act for, bind, or commit the other.

 

18.9          Notices.
All notices and other communications between the Parties shall be in writing and shall be deemed to have been duly given: (a) when delivered
in person; or (b) when delivered by FedEx or other internationally recognized overnight delivery service, addressed as follows:

 

If to Gilead:

 

Gilead Sciences, Inc.

333 Lakeside Drive

Foster City, CA 94404

USA

Attention: General Counsel

 

with copies (which shall not
constitute notice) to:

 

Hogan Lovells US LLP

8350 Broad St.

17th Floor

Tysons, VA 22102

USA

Attention: Cullen Taylor

 

 

If to Hookipa:

 

Hookipa Biotech GmbH

St Marx Vienna BioCenter:
Helmut-Qualtinger-Gasse 2

1030 Vienna

Austria

Attention: Joern Aldag, Chief
Executive Officer

 

    64

     

    

 

with copies (which shall not
constitute notice) to:

 

Squire Patton Boggs (US) LLP

Eurotheum

Neue Mainzer Straße
66-68

60311 Frankfurt am Main

Germany

Attention: Dr. Rüdiger
Herrmann

 

or to such other address or addresses as the parties
may from time to time designate in writing.

 

18.10     
Further Assurances. Gilead and Hookipa hereby covenant and agree without the necessity of any further consideration,
to execute, acknowledge, and deliver any and all such other documents and take any such other action as may be reasonably necessary to
carry out the intent and purposes of this Agreement.

 

18.11       Compliance with Law. Each Party shall perform its obligations under this Agreement in accordance with all Applicable
Laws. No Party shall, or shall be required to, undertake any activity under or in connection with this Agreement which violates, or which
it believes in good faith may violate, any Applicable Law.

 

18.12       No Third Party Beneficiary Rights. The provisions of this Agreement are for the sole benefit of the Parties and
their successors and permitted assigns, and they shall not be construed as conferring any rights to any Third Party (including any third
party beneficiary rights), except for the indemnification rights of the Gilead Indemnitees pursuant to Sections 16.1 and 16.3
and the indemnification rights of the Hookipa Indemnitees pursuant to Sections 16.2 and 16.3.

 

18.13      
English Language. This Agreement is written and executed in the English language. Any translation into any other
language shall not be an official version of this Agreement and in the event of any conflict in interpretation between the English version
and such translation, the English version shall prevail.

 

18.14      
Expenses. Except as otherwise expressly provided in this Agreement, each Party shall pay the fees and expenses
of its respective lawyers and other experts and all other expenses and costs incurred by such Party incidental to the negotiation, preparation,
execution, and delivery of this Agreement.

 

18.15       Entire
Agreement. This Agreement, together with its Exhibits and Schedules, sets forth the entire agreement and understanding of the Parties
as to the subject matter hereof and amends and restates the Original Collaboration Agreement in its entirety with effect as of the Effective
Date. For clarity, the Original Collaboration Agreement, together with its exhibits and schedules, shall continue to govern the agreement
and understanding of the Parties as to the subject matter thereof for the period prior to the Effective Date. In the event of any conflict
between a substantive provision of this Agreement and any Exhibit or Schedule hereto, the substantive provisions of this Agreement shall
prevail.

 

    65

     

    

 

18.16       Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one (1) and the same instrument. Counterparts and any other document required to be executed and delivered hereunder
may be delivered via electronic mail (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000 (e.g.,
www.docusign.com)) or other transmission method and any counterpart or such document so delivered shall be deemed to have been duly and
validly delivered and be valid and effective for all purposes.

 

18.17       Cumulative
Remedies. No remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any
other remedy referred to in this Agreement or otherwise available under law.

 

[Signature Page Follows]

 

    66

     

    

 

IN WITNESS WHEREOF,
the Parties intending to be bound have caused this Agreement to be executed by their duly authorized representatives.

 

	GILEAD SCIENCES, INC.  	 	HOOKIPA BIOTECH GMBH
	 	 	 
	By:  	/s/ Andrew Dickinson	 	By:	/s/ Joern Aldag
	 	 	 
	Name:	Andrew Dickinson	 	Name:	Joern Aldag
	 	 	 
	Title:  	Chief Financial Officer	 	Title:	Chief Executive Officer

 

[Signature Page to Amended and Restated Research
Collaboration and License Agreement]

 

     

     

    

 

EXHIBIT A

[***]

 

Attached.

 

     

     

    

 

[***]

 

[***]

 

a) [***]

 

i) [***]

 

[***]

 

[***]

 

	Table 1: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

	Table 2: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

[***]

 

ii) [***]

 

	Table 3: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

b) [***]

 

i) [***]

  

[***]

 

     

     

    

 

ii) [***]

 

Table 4: [***]

 

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

 

[***]

 

iii) [***]

 

Table 5: [***]

 

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

 

		[***]	

 

[***]

 

iv) [***]

 

Table 6: [***]

 

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

 

Table 7: [***]

 

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

 

[***]

 

     

     

    

 

[***]

 

c) [***]

 

[***]

 

Table 8: [***]

 

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

 

 

[***]

 

[***]

 

[***]

 

Table 9: [***]

 

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

 

d) [***]

 

i) [***]

 

[***]

 

ii) [***]

 

[***]

 

Table 10: [***]

 

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

 

     

     

    

 

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

 

iii) [***]

 

[***]

 

iv) [***]

 

[***]

 

     

     

    

 

Table 11: [***]

 

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

 

[***]

 

     

     

    

 

[***]

 

     

     

    

 

[***]

 

     

     

    

  

 

EXHIBIT B1

[***]

 

Attached.

 

     

     

    

 

[***]

 

[***]

 

a) [***]

b) [***]

c) [***]

d) [***]

e) [***]

 

a) [***]

 

i) [***]

 

[***]

 

	Table 1: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

	Table 2: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

     

     

    

 

[***]

 

[***]

 

ii) [***]

 

	Table 3: [***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

 

[***]

 

b) [***]

 

i) [***]

 

[***]

 

[***]

 

ii) [***]

 

Table 4: [***]

 

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

 

[***]

 

iii) [***]

 

Table 5: [***]

 

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

  

 [***]

 

[***]

 

iv) [***]

 

     

     

    

 

Table 6: [***]

 

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

 

[***]

 

     

     

    

 

Table 7: [***]

 

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

 

[***]

 

c) [***]

 

[***]

 

     

     

    

 

Table 8: [***]

 

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

 

d) [***]

 

i) [***]

 

[***]

 

ii) [***]

 

[***]

 

Table 9: [***]

 

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

 

ii) [***]

 

[***]

 

     

     

    

 

Table 10: [***]

 

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

 

[***]

 

iii) [***]

 

[***]

 

iv) [***]

 

[***]

 

Table 11: [***]

 

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

 

[***]

 

[***]

 

     

     

    

 

[***]

 

     

     

    

 

[***]

 

     

     

    

  

EXHIBIT B2

[***]

 

Attached.

 

    B2-1

     

    

 

 [***]

 

    B2-2

     

    

 

EXHIBIT B3

[***]

 

Attached.

 

    B3-1

     

    

  

[***]

 

[***]

 

		A.	[***]

 

		1.	[***]
	 	2. 	[***]

  

		B.	[***]

 

		1.	[***]	 
		2.	[***]	 
	 	 	i.	[***]	 
	 	 	ii.	[***]	

  

		C.	[***]

 

		1.	[***]
	 	2.	[***]
	 	3.	[***]
	 	4.	[***]

		i.	[***]	 
		ii.	 [***]	 
		iii.	 [***]	 
		iv.	 [***]	 
		v.	[***]	 

		5.	[***]	 
	 	6.	[***]	 
	 	7.	[***]	 
	 	 	i.	 [***]	 
	 	 	ii.	 [***]	
	 	8.	[***]	 
	 	9.	[***]	 

 

	 	D.	[***]

 

		1.	[***]

 

	 	E.	 [***]

 

		1.	[***]
	 	2.	[***]
	 	3.	[***]
	 	4.	[***]

 

    B3-2

     

    

 

EXHIBIT C

[***]

 

Attached.

 

    

     

    

 

Exhibit C: Hookipa Patent Rights

 

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

 

    1/3

     

    

 

Exhibit C: Hookipa Patent Rights

 

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

 

    2/3

     

    

 

Exhibit C: Other Patent Rights

 

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    C-1 - 3

     

    

 

SCHEDULE 1.1(a)

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    Schedule 1.1(a) - 1

     

    

 

Schedule 1.1(b)

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Schedule
 3.2(c)

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Attached.

 

    Schedule 3.2(c) - 1

     

    

 

Schedule 3.2(c)

 

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    Schedule 3.2(c) - 2

     

    

 

SCHEDULE
9.5(a)

 

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Schedule 9.5(a)

 

     

     

    

 

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Schedule 9.5(a)

 

     

     

    

 

SCHEDULE 17.2(b)

DRAFT PRESS RELEASE 2022

 

Attached.

 

Schedule 17.2(b) 

 

     

     

    

 

 

 

 

HOOKIPA and Gilead Amend Collaboration and
License Agreement to Develop Immunotherapies Against HIV

 

		 •	HOOKIPA
                                            to develop arenaviral-based therapeutic for HIV through Phase 1b clinical trial completion;
                                            Gilead has exclusive rights for further program development thereafter

 

		 •	Financial
                                            terms include $15 million initiation fee and $35 million equity commitment

 

New York City, US and Vienna, Austria, February
15, 2022 - HOOKIPA Pharma Inc. (NASDAQ: HOOK, ‘HOOKIPA’), a company developing a new class of immunotherapeutics based on
its proprietary arenavirus platform, today announced it has entered into an amended and restated collaboration and license agreement
with Gilead to advance the development of a novel arenaviral immunotherapy as a component of a potential functional curative regimen
for human immunodeficiency virus (HIV).

 

In April 2018, Gilead licensed exclusive rights
to HOOKIPA’s versatile arenaviral platform to develop immunotherapies for HIV and hepatitis B virus (HBV). Under those terms, the
companies agreed to collaborate through a joint research phase, after which time Gilead had rights for further development. Under the
amended and restated agreement, HOOKIPA is responsible for advancing the HIV program through the completion of a Phase 1b clinical trial,
with funding from Gilead via an upfront payment and equity purchases. At the completion of the Phase 1b trial, Gilead has the exclusive
right to assume further development of the program. The HBV portion of the agreement remains unchanged.

 

“We are pleased to enter into this amended
agreement with Gilead which includes provisions that we believe benefit both parties, and we hope ultimately the HIV community,”
said Joern Aldag, Chief Executive Officer at HOOKIPA. “Gilead is helping to advance our novel arenaviral platform technology, which
has the potential to complement Gilead’s overall research strategies for cures of HIV and HBV.”

 

Hookipa earned a one-time $4 million preclinical
milestone payment under the original 2018 collaboration and license agreement. Upon signing of the amended agreement, Hookipa will receive
a payment of $15 million. In addition, Gilead will make a $5 million equity investment in HOOKIPA at a premium to the current market
price, and up to an additional $30 million of equity financing that can be drawn at HOOKIPA’s discretion by December 31, 2023.

 

     

     

    

 

HOOKIPA’s research collaboration with Gilead
to develop a potential functional cure for Hepatitis B virus (HBV) continues to move forward under the original agreement terms. The
project progressed successfully into preclinical development, and Gilead plans to advance the program to the IND-enabling stage in 2022,
supporting clinical entry of an alternating two-vector arenaviral therapeutic for the treatment of HBV.

 

For further details on the amended agreement,
refer to our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 15, 2022.

 

About HOOKIPA

 

HOOKIPA
Pharma Inc. (NASDAQ: HOOK) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies that mobilize and
amplify targeted T cells to address unmet needs in cancer.

 

The company
is leveraging its proprietary, versatile platform to engineer a broad pipeline of differentiated arenaviral therapeutics. These novel
immunotherapies induce robust antigen-specific killer T cells to a broad range of self and non-self antigens, including viral antigens,
tumor-associated antigens and neoantigens. HOOKIPA’s platform technology uses replicating viral vectors based on the target cancer,
with the potential to induce killer T cell response levels previously not achieved by other immunotherapy approaches.

 

HOOKIPA’s
pipeline includes wholly-owned investigational arenaviral immunotherapeutics targeting Human Papilloma Virus 16-positive cancers, prostate
cancer, KRAS-mutated cancers (including colorectal, pancreatic and lung), and other undisclosed oncology indications. In addition, the
company aims to develop functional cures of Hepatitis B Virus and HIV in collaboration with Gilead.

 

Find out
more about HOOKIPA online at www.hookipapharma.com

 

HOOKIPA Forward Looking Statements

 

Certain
statements set forth in this press release constitute “forward-looking” statements within the meaning of the Private Securities
Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by terms such as “believes,” “expects,”
 “plans,” “potential,” “would” or similar expressions and the negative of those terms. Such forward-looking
statements involve substantial risks and uncertainties that could cause HOOKIPA’s research and clinical development programs, future
results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such
risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including HOOKIPA’s
programs’ early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval
processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, HOOKIPA’s ability to successfully
establish, protect and defend its intellectual property, risks relating to business interruptions resulting from the coronavirus (COVID-19)
disease outbreak or similar public health crises, the impact of COVID-19 on the enrollment of patients and timing of clinical results
for HB-101 and other programs, and other matters that could affect the sufficiency of existing cash to fund operations and HOOKIPA’s
ability to achieve the milestones and obtain equity financing under the agreements with Gilead. HOOKIPA undertakes no obligation to update
or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results
to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general,
see HOOKIPA’s quarterly report on Form 10-Q for the quarter ended September 30, 2021 which is available on the Securities
and Exchange Commission’s website at www.sec.gov and HOOKIPA’s website at www.hookipapharma.com.

  

     

     

    

 

Investors and others should note that we
announce material financial information to our investors using our investor relations website (https://ir.hookipapharma.com/),
SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with
our members and the public about our company, our services and other issues. It is possible that the information we post on social media
could be deemed to be material information. Therefore, we encourage investors, the media, and others interested in our company to review
the information we post on the U.S. social media channels listed on our investor relations website.

 

For further information, please contact:

 

	Media enquiries	Investors
	Instinctif Partners	Matt Beck
	hookipa@instinctif.com	Executive Director - Investor Relations
	+44 (0) 7457 2020	matthew.beck@hookipapharma.comcicagreementtier2

Federal Signal Corporation   Executive Change-in-Control Severance Agreement Tier 2  THIS EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT is made, entered into,  and is effective this __________ day of _____, 20YY (hereinafter referred to as the “Effective Date”), by  and between Federal Signal Corporation (the “Company”), a Delaware corporation, and  _________________(the “Executive”).   This Agreement supersedes any applicable previously existing  change-in-control severance agreement between the Company and the Executive.  WHEREAS, the Executive is employed by the Company and will develop considerable experience  and knowledge of the business and affairs of the Company concerning its policies, methods, personnel, and  operations; and  WHEREAS, the Company is desirous of assuring insofar as possible, that it will continue to have the  benefit of the Executive’s services, and the Executive is desirous of having such assurances; and  WHEREAS, the Company recognizes that circumstances may arise in which a Change in Control of  the Company occurs, through acquisition or otherwise, thereby causing uncertainty of employment without  regard to the Executive’s competence or past contributions. Such uncertainty may result in the loss of the  valuable services of the Executive to the detriment of the Company and its shareholders; and  WHEREAS, both the Company and the Executive are desirous that any proposal for a Change in  Control or acquisition will be considered by the Executive objectively and with reference only to the  business interests of the Company and its shareholders; and  WHEREAS, the Executive will be in a better position to consider the Company’s best interests if the  Executive is afforded reasonable security, as provided in this Agreement, against altered conditions of  employment which could result from any such Change in Control or acquisition.  NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements  of the parties set forth in this Agreement, and of other good and valuable consideration, the receipt and  sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as  follows:  Article 1. Definitions  Wherever used in this Agreement, the following terms shall have the meanings set forth below and,  when the meaning is intended, the initial letter of the word is capitalized:  (a) “Agreement” means this Executive Change-in-Control Severance Agreement. (b) “Base Salary” means, at any time, the then regular annual rate of pay which the Executive is receiving as annual salary, excluding amounts: (i) received under short-term or long-term incentive or other bonus plans, regardless of whether or not the amounts are deferred, or (ii) designated by the Company as payment toward reimbursement of expenses. (c) “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. (d) “Board” means the Board of Directors of the Company. (e) “Cause” shall be determined solely by the Committee in the exercise of good faith and reasonable judgment, and shall mean the occurrence of any one or more of the following: (i) The Executive’s willful and continued failure to substantially perform his duties with the Company (other than any such failure resulting from the Executive’s Disability), 

 

after a written demand for substantial performance is delivered to the Executive that  specifically identifies the manner in which the Committee believes that the Executive  has not substantially performed his duties, and the Executive has failed to remedy the  situation within fifteen (15) business days of such written notice from the Company;  or   (ii) The Executive’s conviction of a felony; or (iii) The Executive’s willful engaging in conduct that is demonstrably and materially injurious to the Company, monetarily or otherwise. However, no act or failure to act on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the action or omission was in the best interests of the Company. (f) “Change in Control” of the Company shall mean the occurrence of any one (1) or more of the following events: (i) Any Person (other than the Company, or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, and any trustee or other fiduciary holding securities under an employee benefit plan of the Company or such proportionately owned corporation), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing forty percent (40%) or more of the combined voting power of the Company’s then outstanding securities; (ii) During any period of not more than twenty-four (24) consecutive months, individuals who at the beginning of such period constitute the Board of Directors of the Company, and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two- thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof; (iii) The consummation of a merger or consolidation of the Company with any other corporation, other than: (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than sixty percent (60%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person acquires more than forty percent (40%) of the combined voting power of the Company’s then outstanding securities; or (iv) The Company’s stockholders approve a plan or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets (or any transaction or series of transactions having a similar effect). (g) “Code” means the Internal Revenue Code of 1986, as amended. (h) “Committee” means the Compensation and Benefits Committee of the Board of Directors of the Company, or, if no Compensation and Benefits Committee exists, then the full Board of Directors of the Company, or a committee of Board members, as appointed by the full Board to administer this Agreement. 

 

(i) “Company” means Federal Signal Corporation, a Delaware corporation (including any and all subsidiaries), or any successor thereto as provided in Article 9 herein. (j) “Disability” or “Disabled” shall have the meaning ascribed to such term in the Executive’s governing long-term disability plan, or if no such plan exists,  means entitled to receive Social Security disability benefits. (k) “Effective Date” means the date this Agreement is approved by the Board, or such other date as the Board shall designate in its resolution approving this Agreement, and as specified in the opening sentence of this Agreement. (l) “Effective Date of Termination” means the date on which a Qualifying Termination occurs, as provided in Section 2.2 herein, which triggers the payment of Severance Benefits hereunder. (m) “Exchange Act” means the Securities Exchange Act of 1934, as amended. (n) “Good Reason” means, without the Executive’s express written consent, the occurrence after a Change in Control of the Company of any one (1) or more of the following, which results in a material negative change in the Executive’s employment relationship with the Company: (i) The assignment of the Executive to duties materially inconsistent with the Executive’s authorities, duties, responsibilities, and status (including offices, titles, and reporting requirements) as an executive and/or officer of the Company, or a material reduction or alteration in the nature or status of the Executive’s authorities, duties, or responsibilities from those in effect as of ninety (90) calendar days prior to the Change in Control, other than an insubstantial and inadvertent act that is remedied by the Company promptly after receipt of notice thereof given by the Executive; (ii) The Company’s requiring the Executive to be based at a location in excess of fifty (50) miles from the location of the Executive’s principal job location or office immediately prior to the Change in Control; except for required travel on the Company’s business to an extent substantially consistent with the Executive’s then present business travel obligations; (iii) A reduction by the Company of the Executive’s Base Salary in effect on the Effective Date hereof, or as the same shall be increased from time to time; (iv) The failure of the Company to continue in effect any of the Company’s short- and long-term incentive compensation plans, or employee benefit or retirement plans, policies, practices, or other compensation arrangements in which the Executive participates unless such failure to continue the plan, policy, practice, or arrangement pertains to all plan participants generally; or the failure by the Company to continue the Executive’s participation therein on substantially the same basis, both in terms of the amount of benefits provided and the level of the Executive’s participation relative to other participants, as existed immediately prior to the Change in Control of the Company; (v) The failure of the Company to obtain a satisfactory agreement from any successor to the Company to assume and agree to perform the Company’s obligations under this Agreement, as contemplated in Article 9 herein; and (vi) A material breach of this Agreement by the Company which is not remedied by the Company within thirty (30) business days of receipt of written notice of such breach delivered by the Executive to the Company. 

 

Unless the Executive becomes Disabled, the Executive’s right to terminate employment for  Good Reason shall not be affected by the Executive’s incapacity due to physical or mental  illness..  Executive must notify the Company within ninety (90) days of the existence of the  Good Reason condition, and the Company shall have thirty (30) days to remedy the  conditions.  (o) “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated. (p) “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d). (q) “Qualifying Termination” means the Executive’s separation from service (as defined in Section 409A of the Code and the applicable regulations) due to any of the events described in Section 2.2 herein, the occurrence of which triggers the payment of Severance Benefits hereunder. (r) “Severance Benefits” mean the payment of severance compensation as provided in Section 2.3 herein. Article 2. Severance Benefits  2.1 Right to Severance Benefits. The Executive shall be entitled to receive from the Company  Severance Benefits as described in Section 2.3 herein, if there has been a Change in Control of the  Company and, certain other Severance Benefits, if within twenty-four (24) calendar months thereafter the  Executive’s employment with the Company shall end for any reason specified in Section 2.2 herein as  being a Qualifying Termination.  The Executive shall not be entitled to receive Severance Benefits if he is terminated for Cause, or if  his employment with the Company ends due to death, Disability, or a voluntary termination of employment  for reasons other than as specified in Section 2.2(b) herein.  No Executive shall be entitled to receive duplicative severance benefits under any other Company- related plans or programs if benefits are triggered hereunder.  2.2 Qualifying Termination. The Executive’s separation from service (as defined in Section  409A of the Code and applicable regulations) within twenty-four (24) calendar months after a Change in  Control of the Company shall constitute a Qualifying Termination and shall trigger the payment of  Severance Benefits to the Executive under this Agreement under the following circumstances:  (a) The Company’s involuntary termination of the Executive’s employment without Cause; and (b) The Executive’s voluntary employment termination for Good Reason. For purposes of this Agreement, a Qualifying Termination shall not include a termination of  employment by reason of death, Disability, or the Executive’s voluntary termination for reasons other than  as specified in Section 2.2(b) herein, or the Company’s involuntary termination for Cause.  2.3 Description of Severance Benefits. In the event the Executive becomes entitled to receive  Severance Benefits, as provided in Sections 2.1 and 2.2 herein, the Company shall pay to the Executive and  provide him with the following Severance Benefits, subject to the limitations set forth in Section 5.1  herein:  

 

(a) Upon a Qualifying Termination, a lump-sum amount equal to the Executive’s accrued but unpaid Base Salary, accrued vacation pay, unreimbursed business expenses, and all other items earned by and owed to the Executive through and including the Effective Date of Termination. (b) Upon a Qualifying Termination, a lump-sum amount equal to the Executive’s then current annual target bonus opportunity, established under the annual bonus plan in which the Executive is then participating, for the bonus plan year in which the Executive’s Effective Date of Termination occurs, multiplied by a fraction the numerator of which is the number of full completed months in the year from January 1 through the Effective Date of Termination, and the denominator of which is twelve (12). This payment will be in lieu of any other payment to be made to the Executive under the annual bonus plan in which the Executive is then participating for the plan year. (c) Upon a Qualifying Termination, a lump-sum amount equal to one and one-half (1.5) multiplied by the sum of the following: (i) the higher of: (A) the Executive’s annual rate of Base Salary in effect upon the Effective Date of Termination, or (B) the Executive’s annual rate of Base Salary in effect on the date of the Change in Control; and (ii) the Executive’s annual target bonus opportunity established under the annual bonus plan in which the Executive is then participating for the bonus plan year in which the Executive’s Effective Date of Termination occurs. (d) Upon a Qualifying Termination, a lump-sum amount equal to one-half (0.5) multiplied by the sum of the following: (i) the higher of: (A) the Executive’s annual rate of Base Salary in effect upon the Effective Date of Termination, or (B) the Executive’s annual rate of Base Salary in effect on the date of the Change in Control; and (ii) the Executive’s annual target bonus opportunity established under the annual bonus plan in which the Executive is then participating for the bonus plan year in which the Executive’s Effective Date of Termination occurs. Such amount shall be in consideration for the Executive entering into a noncompete agreement as described in Article 4 herein. (e) Upon a Qualifying Termination, vesting and cash-out of any and all outstanding cash- based long-term incentive awards held by the Executive, as granted to the Executive by the Company as a component of the Executive’s compensation. The cash-out shall be in a lump-sum amount equal to the target award level established for each award, multiplied by a fraction the numerator of which is the full number of completed days in the preestablished performance period as of the Effective Date of termination, and the denominator of which is the full number of days in the entire performance period (i.e., typically thirty-six (36) months). This payment will be in lieu of any other payment to be made to the Executive under these long-term performance-based award plans. (f) Upon the occurrence of a Change in Control, an immediate full vesting and lapse of all restrictions on any and all outstanding equity-based long-term incentives, including but not limited to stock options and restricted stock awards held by the Executive. This provision shall override any conflicting language contained in the Executive’s respective award agreements. (g) Upon the occurrence of a Change in Control, the Company shall, as soon as possible, but in no event longer than thirty (30) calendar days following the occurrence of a Change in Control, make an irrevocable contribution to the then current trust in effect for purposes of holding assets to assist the Company in satisfying its liabilities under the Federal Signal Corporation Supplemental Savings and Investment Plan (the “Deferred Compensation Plan”) or successor thereto in an amount that is sufficient (taking into account the trust assets, if any, resulting from prior contributions) to fund 

 

the trust in an amount equal to but no less than one hundred percent (100%) of the  amount necessary to pay the  Executive the benefits to which such Executive would  be entitled pursuant to the terms of the aforementioned Deferred Compensation Plan.  (h) Upon a Qualifying Termination, continuation for twenty-four (24) months of the Executive’s medical insurance coverage. The benefit shall be provided by the Company to the Executive beginning immediately upon the Effective Date of Termination. Such benefit shall be provided to the Executive at the same coverage level and cost to the Executive as in effect immediately prior to the Executive’s Effective Date of Termination.  Any COBRA health benefit continuation coverage provided to Executive shall run concurrently with the aforementioned twenty-four (24) month period. The value  of such medical insurance coverage shall be treated as taxable income to  Executive to the extent necessary to comply with Sections 105(h) and 409A of the  Code.  For purposes of 409A of the Code, any payments of continued health benefits  that are made during the applicable COBRA continuation period (even if  the  Executive does not actually receive COBRA coverage for the entire applicable  period), are exempt from the requirements of Code Section 409A pursuant to  Treasury Regulation Section 1.409A-1(b)(9)(v)(B).  The right to continue coverage  beyond the applicable COBRA continuation period is not subject to liquidation or  exchange for another benefit. Notwithstanding the above, this medical insurance  benefit shall be discontinued prior to the end of the stated continuation period in the  event the Executive receives a substantially similar benefit from a subsequent  employer, as determined solely by the Committee in good faith. For purposes of  enforcing this offset provision, the Executive shall be deemed to have a duty to keep  the Company informed as to the terms and conditions of any subsequent employment  and any corresponding benefit earned from such employment, and shall provide, or  cause to provide, to the Company in writing correct, complete, and timely information  concerning the same.  2.4 Termination for Total and Permanent Disability. Following a Change in Control, if the  Executive’s employment is terminated with the Company due to Disability, the Executive’s benefits shall  be determined in accordance with the Company’s retirement, insurance, and other applicable plans and  programs then in effect.  2.5 Termination for Death. Following a Change in Control, if the Executive’s employment with  the Company is terminated by reason of his death, the Executive’s benefits shall be determined in  accordance with the Company’s retirement, survivor’s benefits, insurance, and other applicable programs  then in effect.  2.6 Termination for Cause or by the Executive Other Than for Good Reason. Following a  Change in Control, if the Executive has a separation from service (as defined in Section 409A of the Code  and the applicable regulations) either due to:   (i) termination by the Company for Cause; or (ii) voluntary  termination by the Executive for reasons other than as specified in Section 2.2(b) herein, the Company shall  pay the Executive his accrued but unpaid Base Salary at the rate then in effect, accrued vacation, and other  items earned by and owed to the Executive through the Executive’s separation from service, plus all other  amounts to which the Executive is entitled under any compensation plans of the Company at the time such  payments are due, and the Company shall have no further obligations to the Executive under this  Agreement.  2.7 Notice of Termination. Any termination of the Executive’s employment by the Company for  Cause or by the Executive for Good Reason shall be communicated by Notice of Termination to the other  party.  Article 3. Form and Timing of Severance Benefits  

 

3.1 Form and Timing of Severance Benefits. The Severance Benefits described in Sections  2.3(a), 2.3(b), 2.3(c), 2.3(d), and 2.3(e) herein shall be paid in cash to the Executive in a single lump sum as  soon as practicable following the Effective Date of Termination, but in no event beyond ten (10) calendar  days from such date.    3.2. Internal Revenue Code Section 409A. The Plan is intended to comply with the American Jobs  Creation Act of 2004, Code Section 409A, and related guidance.    (a) Notwithstanding anything to the contrary set forth in this Agreement, any Severance Benefits paid (i) within 2-1⁄2 months of the end of the Company’s taxable year containing the Executive’s severance  from employment, or (ii) within 2-1⁄2 months of the Executive’s taxable year containing the severance from  employment shall be exempt from the requirements of Section 409A of the  Code, and shall be paid in  accordance with this Article 3.  Severance Benefits subject to this Section 3.2(a) shall be treated and shall  be deemed to be an entitlement to a separate payment within the meaning of Section 409A of the Code and  the regulations thereunder.    (b) To the extent Severance Benefits are not exempt from Section 409A under Section 3.2(a) above, any Benefits paid in the first 6 months following the Executive’s severance from employment that  are equal to or less than the lesser of the amounts described in Treasury Regulation Section 1.409A- 1(b)(9)(iii)(A)(1) and (2) shall be exempt from Section 409A and shall be paid in accordance with this  Article 3.  Severance Benefits subject to this Section 3.2(b) shall be treated and shall be deemed to be an  entitlement to a separate payment within the meaning of Section 409A of the Code and the regulations  thereunder.  (c) To the extent Severance Benefits are not exempt from Section 409A under Sections 3.2(a) or (b) above, any Benefits paid equal to or less than the applicable dollar amount under Section 402(g)(1)(B) of the Code for the year of severance from employment shall be exempt from Section 409A in accordance with Treasury Regulation Section 1.409A-1(b)(9)(v)(D) and shall be paid in accordance with this Article 3. Severance Benefits subject to this Section 3.2(c) shall be treated and shall be deemed to be an entitlement to a separate payment within the meaning of Section 409A of the Code and the regulations thereunder. (d) To the extent Severance Benefits are not exempt from Section 409A pursuant to Sections 3.2(a), (b) or (c) above, and to the extent the Executive is a "specified employee" (as defined  below),  payments due to the Executive under Section 6 shall begin no sooner than six months after the Executive's  severance from employment (other than for Death) ; provided, however, that any payments not made  during the six (6) month period described in this Section 3.2(d) due to the 6-month delay period required  under Treasury Regulation Section 1.409A-3(i)(2) shall be made in a single lump sum as soon as  administratively practicable after the expiration of such six (6) month period, with interest thereon , and the  balance of all other payments required under this Agreement shall be made as otherwise scheduled in this  Agreement.  Notwithstanding anything herein to the contrary, and subject to Code Section 409A, to the  extent the following rules should apply to the Executive in connection with payments made hereunder,  payment shall not be made or commence as a result of the Executive’s Effective Date of Termination to  any Executive who is a key employee (defined below) before the date that is not less than six months after  the Executive’s Effective Date of Termination.  For this purpose, a key employee includes a “specified  employee” (as defined in Code Section 409A(a)(2)(B)) during the entire 12-month period determined by  the Company ending with the annual date upon which key employees are identified by the Company, and  also including any Executive identified by the Company in good faith with respect to any distribution as  belonging to the group of identified key employees, to a maximum of 200 such key employees, regardless  of whether such Executive is subsequently determined by the Company, any governmental agency, or a  court not to be a key employee.  The identification date for determining key employees shall be each  December 31 (and the new key employee list shall be updated and effective each subsequent April 1).  (e) For purposes of this Section 3.2, any reference to severance of employment or termination of employment shall mean a "separation from service" as defined in Treasury Reg. Section 1.409A-1(h).  For  purposes of this Agreement, the term "specified employee" shall have the meaning set forth in Treasury  Reg. Section 1.409A-1(i). The determination of whether the Executive is a "specified employee" shall be  made by the Company in good faith applying the applicable Treasury regulations.  

 

3.3 Withholding of Taxes. The Company shall withhold from any amounts payable under this  Agreement all federal, state, city, or other taxes as legally shall be required.  Article 4. Noncompetition and Confidentiality  In the event of a Change in Control, as provided in Article 1 paragraph (f) herein, the following shall  apply:  (a) Noncompetition. During the term of this Agreement and, if longer, for a period of eighteen (18) months after the Effective Date of Termination, the Executive shall not: (i) directly or indirectly act in concert or conspire with any person employed by the Company in order to engage in or prepare to engage in or to have a financial or other interest in any business or any activity which he knows (or reasonably should have known) to be directly competitive with the business of the Company as then being carried on; or (ii) serve as an employee, agent, partner, shareholder, director or consultant for, or in any other capacity participate, engage, or have a financial or other interest in any business or any activity which he knows (or reasonably should have known) to be directly competitive with the business of the Company as then being carried on (provided, however, that notwithstanding anything to the contrary contained in this Agreement, the Executive may own up to two percent (2%) of the outstanding shares of the capital stock of a company whose securities are registered under Section 12 of the Securities Exchange Act of 1934). (b) Confidentiality. The Company has advised the Executive and the Executive acknowledges that it is the policy of the Company to maintain as secret and confidential all Protected Information (as defined below), and that Protected Information has been and will be developed at substantial cost and effort to the Company. All Protected Information shall remain confidential permanently and no Executive shall at any time, directly or indirectly, divulge, furnish, or make accessible to any person, firm, corporation, association, or other entity (otherwise than as may be required in the regular course of the Executive’s employment with the Company), nor use in any manner, either during the term of employment or after termination, at any time, for any reason, any Protected Information, or cause any such information of the Company to enter the public domain. For purposes of this Agreement, “Protected Information” means trade secrets, confidential and proprietary business information of the Company, and any other information of the Company, including, but not limited to, customer lists (including potential customers), sources of supply, processes, plans, materials, pricing information, internal memoranda, marketing plans, internal policies, and products and services which may be developed from time to time by the Company and its agents or employees, including the Executive; provided, however, that information that is in the public domain (other than as a result of a breach of this Agreement), approved for release by the Company or lawfully obtained from third parties who are not bound by a confidentiality agreement with the Company, is not Protected Information. (c) Nonsolicitation. During the term of this Agreement and, if longer, for a period of eighteen (18) months after the Effective Date of Termination, the Executive shall not employ or retain or solicit for employment or arrange to have any other person, firm, or other entity employ or retain or solicit for employment or otherwise participate in the employment or retention of any person who is an employee or consultant of the Company. (d) Cooperation. Executive agrees to cooperate with the Company and its attorneys in connection with any and all lawsuits, claims, investigations, or similar proceedings that have been or could be asserted at any time arising out of or related in any way to Executive’s employment by the Company or any of its subsidiaries. (e) Nondisparagement. At all times, the Executive agrees not to disparage the Company or otherwise make comments harmful to the Company’s reputation. 

 

(f) Judicial Interpretation. It is expressly understood and agreed that although Executive and the Company consider the restrictions contained in this Section to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that any restriction contained in this Agreement is an unenforceable restriction against Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply to the maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. (g) Injunctive Relief and Additional Remedy. The Executive acknowledges that the injury that would be suffered by the Company as a result of a breach of the provisions of this Agreement would be irreparable and that an  award of monetary damages to the Company for such a breach would be an inadequate remedy. Consequently, the Company will have the right, in addition to any other rights it may have, to obtain injunctive relief to restrain any breach or threatened breach or otherwise to specifically enforce any provision of this Agreement, and the Company will not be obligated to post bond or other security in seeking such relief. Without limiting the Company’s rights under this Article or any other remedies of the Company, if the Executive breaches any of the provisions of this Article, the Company will have the right to recover any amounts paid to the Executive under subsection 2.3(d) of this Agreement. Article 5.  Reduction of Severance Benefits in the Event of an Excise Tax Due  5.1 Events Triggering Reduction of Severance Benefits.  If any portion of the Severance  Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the  Company (in the aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that  a golden parachute excise tax is due, the Company will make no additional payments to the Executive to  cover the cost of such excise tax (a “Gross-Up Payment”) and the aggregate amount of Severance  Payments payable to the Executive under this Agreement, or any other agreement with or plan of the  Company, shall be reduced to the largest amount which would both (i) not cause any excise tax to be  payable by the Executive, and (ii) not cause any of the Severance Payments to become nondeductible by  the Company by reason of Section 280G of the Code (or any successor provision thereto).    For purposes of this Agreement, the term “excess parachute payment” shall have the meaning  assigned to such term in Section 280G of the Code, and the term “excise tax” shall mean the tax imposed  on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.  5.2 Procedures in the Event of a Reduction in Severance Benefits.  If there is a determination  that the Severance Benefits payable to the Executive must be reduced pursuant to Section 5.1, the Company  shall promptly give the Executive notice to that effect and a copy of the detailed calculation thereof and of  the amount that must be reduced.  The Executive may then elect, at the Executive’s sole discretion, which  and how much of the various Severance Benefits shall be eliminated or reduced as long as after the  Execuitive’s election the aggregate present value of the Severance Benefits equals the largest amount that  would both (i) not cause any excise tax to be payable by the Executive, and (ii) not cause any Severance  Payment to become nondeductible by the Company by reason of Section 280G of the Code (or any  successor provision thereto).  The Executive will advise the Company in writing of the Executive’s election  under this Section 5.2 within ten (10) days of the Executive’s receipt of the notice under this Section 5.2  from the Company.  If no election is made by the Executive within the ten-day period, the Company may  election which and how much of the Severance Benefits shall be eliminated or reduced as long as after the  Company’s election the aggregate present value of the Severance Payments equals the largest amount that  would both (i) not cause any excise tax to be paid by the Executive, and (ii) not cause and Severance  Payments to become nondeductible by the Company by reason of Section 289G of the Code (or any  successor provision thereof).  For purposes of this Section 5.2, present value shall be determined in  accordance with Section 280G(d)(4) of the Code.  Article 6. The Company’s Payment Obligation  

 

6.1 Payment Obligations Absolute. The Company’s obligation to make the payments and the  arrangements provided for herein shall be absolute and unconditional, and shall not be affected by any  circumstances including, without limitation, any offset, counterclaim, recoupment, defense, or other right  which the Company may have against the Executive or anyone else. All amounts payable by the Company  hereunder shall be paid without notice or demand. Each and every payment made hereunder by the  Company shall be final, and the Company shall not seek to recover all or any part of such payment from the  Executive or from whomsoever may be entitled thereto, for any reasons whatsoever.  The Executive shall not be obligated to seek other employment in mitigation of the amounts payable  or arrangements made under any provision of this Agreement, and the obtaining of any such other  employment shall in no event effect any reduction of the Company’s obligations to make the payments and  arrangements required to be made under this Agreement, except to the extent provided in Section 2.3(h)  herein.  6.2 Contractual Rights to Benefits. This Agreement establishes and vests in the Executive a  contractual right to the benefits to which he is entitled hereunder. However, nothing herein contained shall  require or be deemed to require, or prohibit or be deemed to prohibit, the Company to segregate, earmark,  or otherwise set aside any funds or other assets, in trust or otherwise, to provide for any payments to be  made or required hereunder, except to the extent provided in Section 2.3(g) herein.  Article 7. Term of Agreement  This Agreement will commence on the Effective Date and shall continue in effect for three (3) full  years. However, at the end of such three (3) year period and, if extended, at the end of each additional year  thereafter, the term of this Agreement shall be extended automatically for one (1) additional year, unless  either party delivers written notice six (6) months prior to the end of such term, or extended term, stating  that the Agreement will not be extended. In such case, the Agreement will terminate at the end of the term,  or extended term, then in progress.  However, in the event of a Change in Control of the Company, the term of this Agreement shall  automatically be extended for two (2) years from the date of the Change in Control.  Article 8. Dispute Resolution  Any dispute or controversy between the parties arising under or in connection with this Agreement  shall be settled by arbitration.  The arbitration proceeding shall be conducted before a panel of three (3) arbitrators sitting in a  location selected by the Executive within fifty (50) miles from the location of the Executive’s principal  place of employment, in accordance with the rules of the American Arbitration Association then in effect.  Judgment may be entered on the award of the arbitrators in any court having competent jurisdiction.  All expenses of such litigation or arbitration, including the reasonable fees and expenses of the legal  representative for the Executive, and necessary costs and disbursements incurred as a result of such dispute  or legal proceeding, and any prejudgment interest, shall be borne by the Company.  Article 9. Successors  9.1 Successors to the Company. The Company shall require any successor (whether direct or  indirect, by purchase, merger, reorganization, consolidation, acquisition of property or stock, liquidation, or  otherwise) of all or a significant portion of the assets of the Company by agreement, in form and substance  satisfactory to the Executive, to expressly assume and agree to perform this Agreement in the same manner  and to the same extent that the Company would be required to perform if no such succession had taken  place. Regardless of whether such agreement is executed, this Agreement shall be binding upon any  successor in accordance with the operation of law and such successor shall be deemed the “Company” for  purposes of this Agreement.  

 

9.2 Assignment by the Executive. This Agreement shall inure to the benefit of and be  enforceable by the Executive’s personal or legal representatives, executors, administrators, successors,  heirs, distributees, devisees, and legatees. If the Executive dies while any amount would still be payable to  him hereunder had he continued to live, all such amounts, unless otherwise provided herein, shall be paid in  accordance with the terms of this Agreement to the Executive’s beneficiary designated under the  Company’s life insurance plan, or, if there is no such beneficiary, to the Executive’s devisee, legatee, or  other designee, or if there is no such designee, to the Executive’s estate.  Article 10. Miscellaneous  10.1 Employment Status. This Agreement is not, and nothing herein shall be deemed to create, an  employment contract between the Executive and the Company or any of its subsidiaries. The Executive  acknowledges that the rights of the Company remain wholly intact to change or reduce at any time and  from time to time his compensation, title, responsibilities, location, and all other aspects of the employment  relationship, or to discharge him prior to a Change in Control (subject to such discharge possibly being  considered a Qualifying Termination pursuant to Section 2.2).   10.2 Entire Agreement. This Agreement contains the entire understanding of the Company and  the Executive with respect to the subject matter hereof. In addition, the payments provided for under this  Agreement in the event of the Executive’s termination of employment shall be in lieu of any severance  benefits payable under any severance plan, program, or policy of the Company to which he might  otherwise be entitled.  10.3 Notices. All notices, requests, demands, and other communications hereunder shall be  sufficient if in writing and shall be deemed to have been duly given if delivered by hand or if sent by  registered or certified mail to the Executive at the last address he has filed in writing with the Company or,  in the case of the Company, at its principal offices.  10.4 Execution in Counterparts. This Agreement may be executed by the parties hereto in  counterparts, each of which shall be deemed to be original, but all such counterparts shall constitute one  and the same instrument, and all signatures need not appear on any one counterpart.  10.5 Conflicting Agreements. This Agreement completely supersedes any and all prior change-in- control agreements or understandings, oral or written, entered into by and between the Company and the  Executive, with respect to the subject matter hereof, and all amendments thereto, in their entirety. Further,  the Executive hereby represents and warrants to the Company that his entering into this Agreement, and the  obligations and duties undertaken by him hereunder, will not conflict with, constitute a breach of, or  otherwise violate the terms of, any other employment or other agreement to which he is a party, except to  the extent any such conflict, breach, or violation under any such agreement has been disclosed to the Board  in writing in advance of the signing of this Agreement.  Notwithstanding any other provisions of this Agreement to the contrary, if there is any inconsistency  between the terms and provisions of this Agreement and the terms and provisions of Company-sponsored  compensation and welfare plans and programs, the Agreement’s terms and provisions shall completely  supersede and replace the conflicting terms of the Company-sponsored compensation and welfare plans and  programs, where applicable.  10.6 Severability. In the event any provision of this Agreement shall be held illegal or invalid for  any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the  Agreement shall be construed and enforced as if the illegal or invalid provision had not been included.  Further, the captions of this Agreement are not part of the provisions hereof and shall have no force and  effect.  Notwithstanding any other provisions of this Agreement to the contrary, the Company shall have no  obligation to make any payment to the Executive hereunder to the extent, but only to the extent, that such  payment is prohibited by the terms of any final order of a federal or state court or regulatory agency of  

 

competent jurisdiction; provided, however, that such an order shall not affect, impair, or invalidate any  provision of this Agreement not expressly subject to such order.  10.7 Modification. No provision of this Agreement may be modified, waived, or discharged unless  such modification, waiver, or discharge is agreed to in writing and signed by the Executive and by a  member of the Board, as applicable, or by the respective parties’ legal representatives or successors.  10.8 Applicable Law. To the extent not preempted by the laws of the United States, the laws of  Delaware shall be the controlling law in all matters relating to this Agreement without giving effect to  principles of conflicts of laws.  IN WITNESS WHEREOF, the parties have executed this Agreement on this _____day of  ______, 20YY.  ATTEST  Federal Signal Corporation  ___________________________  By: Brenda Reichelderfer    Chair, Compensation Committee of the Board of Directors  ___________________________  Executive

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