Document:

Exhibit 10.6

 

Mudrick Capital Acquisition Corporation
II 

527 Madison Avenue, 6th Floor

New York, New York. 10022

 

July 30, 2020 

Mudrick Capital Acquisition Holdings II LLC

527 Madison Avenue, 6th Floor

New York, New York. 10022

 

RE: Securities Subscription Agreement

 

 Ladies and Gentlemen:

 

This agreement (the
“Agreement”) is entered into on July 30, 2020 by and between Mudrick Capital Acquisition Holdings II LLC, a
Delaware limited liability company (the “Subscriber” or “you”), and Mudrick Capital Acquisition
Corporation II, a Delaware corporation (the “Company,” “we” or “us”).
Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 8,625,000 shares of Class
B common stock, $0.0001 par value per share (the “Shares”), up to 1,125,000 of which are subject to forfeiture
by you if the underwriters of the initial public offering (“IPO”) of units (“Units”) of the
Company, do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the
Subscriber’s agreements regarding such Shares are as follows:

 

1.            Purchase
of Securities.

 

1.1.  Purchase
of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash,
the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject
to forfeiture, on the terms and subject to the conditions set forth in this Agreement.  Concurrently
with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate
registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such
delivery in book-entry form.

 

2.            Representations,
Warranties and Agreements.

 

2.1.   Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.          No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any
recommendation or endorsement of the offering of the Shares.

 

2.1.2.          No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the
Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation
to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3.          Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance
or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

    

     

    

 

2.1.4.          Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks
and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite
period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be
sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is
capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.
Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration
statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able
to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the
Shares.

 

2.1.5.          Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and
the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information
or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on any other representations
or information in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

2.1.6.          Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale contemplated
hereby is being made in reliance on a private placement exemption to “accredited investors” within the meaning of Section
501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7.          Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The
Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502 under the Securities Act.

 

2.1.8.          Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering
within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing
the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration
under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9.          No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2.  Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1.          Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which
the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition,
operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to
carry out the transactions contemplated by this Agreement.

 

    

     

    

 

2.2.2.          No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or By Laws
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3.          Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a)
transfer restrictions hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber
in writing, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due
to the actions of the Subscriber.

 

2.2.4.          No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection
with any transactions.

 

3.            Forfeiture
of Shares.

 

3.1.  Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO
is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares)
shall forfeit any and all rights to such number of Shares (up to an aggregate of 1,125,000 Shares and pro rata based upon the percentage
of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial
stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares issuable upon exercise of any
warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the issued and outstanding
Shares immediately following the IPO.

 

3.2.  Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber
(or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such
action as is appropriate to cancel such forfeited Shares.

 

3.3.  Share
Certificates. In the event an adjustment to the Original Certificates, if any, is required
pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated agent
as soon as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new
certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted number
of Shares held by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any
such adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4.            Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust
account which will be established for the benefit of the Company’s public stockholders and into which substantially all of
the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company
upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the
Subscriber purchases Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any
liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares into funds
held in the Trust Account upon the successful completion of an initial business combination.

 

    

     

    

 

5.            Restrictions
on Transfer.

 

5.1.  Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to
sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed
to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the
Company, that such registration is not required because such transaction is exempt from registration under the Securities Act and
the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws. 

 

5.2.   Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter.

 

5.3.   Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL,
IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF
THE LOCKUP.”

 

5.4.  Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted
or additional securities or other property which are by reason of such transaction distributed with respect to any Shares subject
to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section
3. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class
of Shares subject to this Section 5 and Section 3.

 

5.5.  Registration
Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to
a registration rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6.            Other
Agreements.

 

6.1.  Further
Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary
to carry out the intent of this Agreement.

 

6.2.  Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail.

 

    

     

    

 

6.3.  Entire
Agreement. This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in
the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO,
embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall
affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

 

6.4.   Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5.  Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent.

 

6.6.  Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
the other party.

 

6.7.  Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
as a third-party beneficiary of this Agreement.

 

6.8.  Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the
conflict of law principles thereof.

 

6.9.  Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

6.10.  No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy
of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment
or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise
thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute
a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required
under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar
or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action
in any circumstances without such notice or demand.

 

6.11.  Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

6.12.  No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to
create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or
demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

    

     

    

 

6.13.  Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14.  Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

6.15.  Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include
any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise
requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have
independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect,
the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party
hereto is in breach of the first representation, warranty, or covenant.

 

6.16.  Mutual
Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7.             Voting
and Tender of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates
and submits for approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally,
the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s stockholders
in connection with an initial business combination negotiated by the Company.

 

8.        Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

    

     

    

 

If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

 

	 	Very truly yours,
	 	 
	 	Mudrick Capital Acquisition Corporation II,
	 	 	 
	 	By:	/s/ Jason Mudrick
	 	 	Name:   	Jason Mudrick     
	 	 	Title:	Chief Executive Officer

 

	Accepted and agreed as of the date first written above.
	 	 
	Mudrick Capital Acquisition Holdings II LLC	 
	 	 
	By:	/s/ Jason Mudrick
        	 
	 	Name:	Jason Mudrick
        	 
	 	Title:	Managing Member	 

 

[Signature Page to Securities Subscription
Agreement]EX-10.7

 Exhibit 10.7 

Confidential 

License and Collaboration Agreement 
 This
Agreement is entered into with effect as of the Effective Date (as defined below) 
 by and between 

F.Hoffmann-La Roche Ltd 

with an office and place of business at Grenzacherstrasse 124, 4070 Basel, Switzerland 

(“Roche Basel”) 
 and 

Hoffmann-La Roche Inc. 

with an office and place of business at 150 Clove Road, Suite 8, Little Falls, New Jersey 07424, U.S.A. (“Roche US”; Roche Basel and Roche US
together referred to as “Roche”) 
 on the one hand 

and 
 SQZ Biotechnologies Company 

with an office and place of business at 134 Coolidge Avenue, Watertown, Massachusetts 02472, U.S.A. (“SQZ”) on the other hand. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

									
	1.	 	Definitions	  	 	1	 
		 	1.1	  	Accounting Standards	  	 	2	 
		 	1.2	  	Affiliate	  	 	2	 
		 	1.3	  	Agreement	  	 	2	 
		 	1.4	  	Agreement Term	  	 	2	 
		 	1.5	  	Allocable Overhead	  	 	2	 
		 	1.6	  	Antigen	  	 	2	 
		 	1.7	  	Antigen Product	  	 	3	 
		 	1.8	  	Applicable Law	  	 	3	 
		 	1.9	  	BBS	  	 	3	 
		 	1.10	  	Business Day	  	 	3	 
		 	1.11	  	Calendar Quarter	  	 	3	 
		 	1.12	  	Calendar Year	  	 	3	 
		 	1.13	  	Cargo	  	 	3	 
		 	1.14	  	Change of Control	  	 	3	 
		 	1.15	  	Change of Control Group	  	 	4	 
		 	1.16	  	Clinical PoC	  	 	4	 
		 	1.17	  	Clinical PoC Report	  	 	4	 
		 	1.18	  	Clinical Study	  	 	4	 
		 	1.19	  	Collaboration Antigen	  	 	4	 
		 	1.20	  	Collaboration Plan	  	 	4	 
		 	1.21	  	Collaboration Product	  	 	4	 
		 	1.22	  	Combination Product	  	 	4	 
		 	1.23	  	Companion Diagnostic	  	 	5	 
		 	1.24	  	Commercially Reasonable Efforts	  	 	5	 
		 	1.25	  	Compulsory Sublicense Compensation	  	 	5	 
		 	1.26	  	Confidential Information	  	 	5	 
		 	1.27	  	Continuation Election Notice	  	 	6	 
		 	1.28	  	Control	  	 	6	 
		 	1.29	  	Cover	  	 	6	 
		 	1.30	  	Development Costs	  	 	6	 
		 	1.31	  	Effective Date	  	 	7	 
		 	1.32	  	EU	  	 	7	 
		 	1.33	  	Expert	  	 	7	 
		 	1.34	  	FBMC	  	 	7	 
		 	1.35	  	FDA	  	 	8	 
		 	1.36	  	FDCA	  	 	8	 
		 	1.37	  	Field	  	 	8	 
		 	1.38	  	Filing	  	 	8	 
		 	1.39	  	First Commercial Sale	  	 	8	 
		 	1.40	  	FTE	  	 	8	 
		 	1.41	  	FTE Rate	  	 	8	 
		 	1.42	  	GAAP	  	 	8	 
		 	1.43	  	GCP	  	 	8	 
		 	1.44	  	Generic Product	  	 	9	 
		 	1.45	  	GLP	  	 	9	 
		 	1.46	  	GLP Tox Study	  	 	9	 
		 	1.47	  	GMP	  	 	9	 
		 	1.48	  	Handle	  	 	9	 
		 	1.49	  	HSR	  	 	10	 
		 	1.50	  	IFRS	  	 	10	 

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -ii- 

									
		 	 1.51
	  	 IND
	  	 	10	 
		 	 1.52
	  	 Indication
	  	 	10	 
		 	 1.53
	  	 lnitiation
	  	 	10	 
		 	 1.54
	  	 Initiation Term
	  	 	10	 
		 	 1.55
	  	 Insolvency Event
	  	 	10	 
		 	 1.56
	  	 lnvention
	  	 	11	 
		 	 1.57
	  	 Joint Know-How
	  	 	11	 
		 	 1.58
	  	 Joint Patent Rights
	  	 	11	 
		 	 1.59
	  	 JCC
	  	 	11	 
		 	 1.60
	  	 JOT
	  	 	11	 
		 	 1.61
	  	 JSC
	  	 	11	 
		 	 1.62
	  	 Know-How
	  	 	11	 
		 	 1.63
	  	 Licensed Product
	  	 	11	 
		 	 1.64
	  	 Microfluidic Chip
	  	 	11	 
		 	 1.65
	  	 MIT License
	  	 	11	 
		 	 1.66
	  	 NOA
	  	 	12	 
		 	 1.67
	  	 Net Sales
	  	 	12	 
		 	 1.68
	  	 Option Period
	  	 	12	 
		 	 1.69
	  	 Out-of-Pocket
Costs
	  	 	12	 
		 	 1.70
	  	 Party
	  	 	12	 
		 	 1.71
	  	 Patent Rights
	  	 	13	 
		 	 1.72
	  	 PBMCs
	  	 	13	 
		 	 1.73
	  	 Pharmacovigilance Agreement
	  	 	13	 
		 	 1.74
	  	 Phase I Study
	  	 	13	 
		 	 1.75
	  	 Phase II Study
	  	 	13	 
		 	 1.76
	  	 Phase Ill Study
	  	 	13	 
		 	 1.77
	  	 Pricing Approval
	  	 	13	 
		 	 1.78
	  	 Profit & Loss
	  	 	13	 
		 	 1.79
	  	 Product
	  	 	14	 
		 	 1.80
	  	 Regulatory Approval
	  	 	14	 
		 	 1.81
	  	 Regulatory Authority
	  	 	14	 
		 	 1.82
	  	 Related Party
	  	 	14	 
		 	 1.83
	  	 Research and Development Program
	  	 	14	 
		 	 1.84
	  	 Roche Antigen
	  	 	14	 
		 	 1.85
	  	 Roche Antigen Option
	  	 	14	 
		 	 1.86
	  	 Roche Group
	  	 	14	 
		 	 1.87
	  	 Roche IP
	  	 	14	 
		 	 1.88
	  	 Roche Product
	  	 	15	 
		 	 1.89
	  	 Roche TCL Option
	  	 	15	 
		 	 1.90
	  	 Royalty Term
	  	 	15	 
		 	 1.91
	  	 Sales
	  	 	15	 
		 	 1.92
	  	 Shared Product
	  	 	16	 
		 	 1.93
	  	 SQZAntigen
	  	 	16	 
		 	 1.94
	  	 SQZBase Patent Rights
	  	 	16	 
		 	 1.95
	  	 SQZIP
	  	 	16	 
		 	 1.96
	  	 SQZKnow-How
	  	 	16	 
		 	 1.97
	  	 SQZOption
	  	 	16	 
		 	 1.98
	  	 SQZPatent Rights
	  	 	16	 
		 	 1.99
	  	 SQZPlatform
	  	 	17	 
		 	 1.100
	  	 SQZProduct
	  	 	17	 
		 	 1.101
	  	 Sublicensee
	  	 	17	 

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -iii- 

									
		 	 1.102
	  	 TCL
	  	 	17	 
		 	 1.103
	  	 TCL Product
	  	 	17	 
		 	 1.104
	  	 Territory
	  	 	17	 
		 	 1.105
	  	 Third Party
	  	 	17	 
		 	 1.106
	  	 Unshared Product
	  	 	17	 
		 	 1.107
	  	 US
	  	 	17	 
		 	 1.108
	  	 US$
	  	 	17	 
		 	 1.109
	  	 Valid Claim
	  	 	17	 
		 	 1.110
	  	 Additional Definitions
	  	 	18	 
	 2.
	 	 Existing Agreements and Programs
	  	 	19	 
		 	 2.1
	  	 Termination of B-Cell Agreement
	  	 	19	 
		 	 2.2
	  	 T-Cell Program
	  	 	20	 
	 3.
	 	 Licenses, Exclusivity and Rights of First Refusal
	  	 	20	 
		 	 3.1
	  	 Research Licenses
	  	 	20	 
		 	 3.2
	  	 Development and Commercial Licenses for Antigen Products
	  	 	20	 
		 	 3.3
	  	 Development and Commercial License to Roche for TCL Products
	  	 	20	 
		 	 3.4
	  	 Grant Back License to SQZ
	  	 	20	 
		 	 3.5
	  	 Right to Sublicense and Subcontract
	  	 	21	 
		 	 3.6
	  	 MIT License
	  	 	21	 
		 	 3.7
	  	 Exclusivity
	  	 	21	 
		 	 3.8
	  	 Right of First Refusal
	  	 	22	 
		 	 3.9
	  	 License to Other Collaboration Inventions
	  	 	22	 
	 4.
	 	 Options
	  	 	22	 
		 	 4.1
	  	 Option Exercise for Antigen Products
	  	 	22	 
		 	 4.2
	  	 Option Exercise for TCL Products
	  	 	23	 
	 5.
	 	 Diligence
	  	 	23	 
	 6.
	 	 Research and Development
	  	 	23	 
		 	 6.1
	  	 Conduct of the Research and Development Program
	  	 	23	 
		 	 6.2
	  	 Initial Collaboration Product
	  	 	24	 
		 	 6.3
	  	 Additional Products
	  	 	24	 
		 	 6.4
	  	 Reports, Audits and Records
	  	 	26	 
	 7.
	 	 Regulatory
	  	 	26	 
		 	 7.1
	  	 SQZ Responsibility
	  	 	26	 
		 	 7.2
	  	 Roche Responsibility
	  	 	27	 
		 	 7.3
	  	 Responsibility for Shared Products
	  	 	27	 
		 	 7.4
	  	 Rights of Reference
	  	 	28	 
		 	 7.5
	  	 Reporting Adverse Events
	  	 	28	 
	 8.
	 	 Development
	  	 	28	 
		 	 8.1
	  	 Development Prior to Option Exercise
	  	 	29	 
		 	 8.2
	  	 Development after Option Exercise, Development of Roche Products
	  	 	29	 
	 9.
	 	 Governance
	  	 	30	 
		 	 9.1
	  	 General
	  	 	30	 
		 	 9.2
	  	 Joint Steering Committee
	  	 	30	 
		 	 9.3
	  	 Alliance Director
	  	 	33	 
		 	 9.4
	  	 Information Exchange
	  	 	33	 
		 	 9.5
	  	 Joint Commercialization Committee
	  	 	34	 
		 	 9.6
	  	 Joint Operational Teams
	  	 	35	 
		 	 9.7
	  	 Joint Research and Development Team
	  	 	36	 
	 10.
	 	 Manufacture and Supply
	  	 	37	 
		 	 10.1
	  	 SQZ Platform and Microfluidic Chips
	  	 	37	 
		 	 10.2
	  	 Products before Exercise of the Roche Antigen Option or Roche TCL Option
	  	 	38	 

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -iv- 

									
		 	 10.3
	  	 Licensed Products
	  	 	38	 
	 11.
	 	 Commercialization
	  	 	39	 
		 	 11.1
	  	 Responsibility
	  	 	39	 
		 	 11.2
	  	 US Promotion Participation and Option
	  	 	39	 
	 12.
	 	 Payments
	  	 	·.40	 
		 	 12.1
	  	 Initiation Payment
	  	 	40	 
		 	 12.2
	  	 Research Costs
	  	 	40	 
		 	 12.3
	  	 Development Costs
	  	 	40	 
		 	 12.4
	  	 Pre- and Early-Clinical Development Event
Payments
	  	 	42	 
		 	 12.5
	  	 Option Exercise Fees
	  	 	44	 
		 	 12.6
	  	 Initiation of Phase II Study Payments for Roche Products
	  	 	44	 
		 	 12.7
	  	 Development and Commercialization Event Payments
	  	 	44	 
		 	 12.8
	  	 Later Achieved Milestones
	  	 	46	 
		 	 12.9
	  	 Sales Based Events
	  	 	46	 
		 	 12.10
	  	 Royalty Payments
	  	 	48	 
		 	 12.11
	  	 Royalty Conversion Option
	  	 	51	 
		 	 12.12
	  	 US Profit Share for Licensed TCL Products
	  	 	51	 
		 	 12.13
	  	 Disclosure of Payments
	  	 	52	 
	 13.
	 	 Accounting and Reporting
	  	 	52	 
		 	 13.1
	  	 Timing of Payments
	  	 	52	 
		 	 13.2
	  	 Late Payment
	  	 	52	 
		 	 13.3
	  	 Method of Payment
	  	 	52	 
		 	 13.4
	  	 Currency Conversion
	  	 	52	 
		 	 13.5
	  	 Royalty Reporting
	  	 	52	 
	 14.
	 	 Taxes
	  	 	53	 
	 15.
	 	 Auditing
	  	 	53	 
		 	 15.1
	  	 Right to Audit
	  	 	53	 
		 	 15.2
	  	 Audit Reports
	  	 	54	 
		 	 15.3
	  	 Over-or Underpayment
	  	 	54	 
	 16.
	 	 Intellectual Property
	  	 	54	 
		 	 16.1
	  	 Ownership of Inventions
	  	 	54	 
		 	 16.2
	  	 German Statute on Employee’s Inventions
	  	 	56	 
		 	 16.3
	  	 Trademarks and Labelling
	  	 	56	 
		 	 16.4
	  	 Prosecution by SQZ
	  	 	57	 
		 	 16.5
	  	 Prosecution by Roche
	  	 	58	 
		 	 16.6
	  	 Patent Coordination Team
	  	 	58	 
		 	 16.7
	  	 Unified Patent Court (Europe)
	  	 	58	 
		 	 16.8
	  	 CREATE Act
	  	 	59	 
		 	 16.9
	  	 Infringement
	  	 	59	 
		 	 16.10
	  	 Defense
	  	 	60	 
		 	 16.11
	  	 Common Interest Disclosures
	  	 	61	 
		 	 16.12
	  	 Hatch-Waxman
	  	 	61	 
		 	 16.13
	  	 Generic Products
	  	 	61	 
		 	 16.14
	  	 Patent Term Extensions
	  	 	62	 
	 17.
	 	 Representations, Warranties, and Covenants
	  	 	62	 
		 	 17.1
	  	 Safety Data
	  	 	62	 
		 	 17.2
	  	 Third Party Patent Rights
	  	 	62	 
		 	 17.3
	  	 Ownership of Patent Rights
	  	 	62	 
		 	 17.4
	  	 Inventors
	  	 	62	 
		 	 17.5
	  	 Grants
	  	 	62	 
		 	 17.6
	  	 MIT License
	  	 	62	 

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -v- 

									
		 	 17.7
	  	 Authorization
	  	 	63	 
		 	 17.8
	  	 Validity of Patent Rights
	  	 	63	 
		 	 17.9
	  	 Ownership and Protection of Know-How
	  	 	63	 
		 	 17.10
	  	 No Claims
	  	 	63	 
		 	 17.11
	  	 No Conflict
	  	 	63	 
		 	 17.12
	  	 Roche Covenants
	  	 	63	 
		 	 17.13
	  	 No Other Representations
	  	 	64	 
	 18.
	 	 Indemnification
	  	 	64	 
	 19.
	 	 Liability
	  	 	65	 
		 	 19.1
	  	 Limitation of Liability
	  	 	65	 
		 	 19.2
	  	 Disclaimer
	  	 	65	 
	 20.
	 	 Obligation Not to Disclose Confidential Information
	  	 	65	 
		 	 20.1
	  	 Non-Use and
Non-Disclosure
	  	 	65	 
		 	 20.2
	  	 Permitted Disclosure
	  	 	66	 
		 	 20.3
	  	 Press Releases
	  	 	66	 
		 	 20.4
	  	 Publications
	  	 	66	 
		 	 20.5
	  	 Commercial Considerations
	  	 	67	 
	 21.
	 	 Term and Termination
	  	 	68	 
		 	 21.1
	  	 Commencement and Agreement Term
	  	 	68	 
		 	 21.2
	  	 Termination
	  	 	68	 
		 	 21.3
	  	 Consequences of Termination
	  	 	70	 
		 	 21.4
	  	 Survival
	  	 	72	 
	 22.
	 	 Bankruptcy
	  	 	72	 
	 23.
	 	 Miscellaneous
	  	 	73	 
		 	 23.1
	  	 Governing Law
	  	 	73	 
		 	 23.2
	  	 Disputes
	  	 	73	 
		 	 23.3
	  	 Arbitration
	  	 	73	 
		 	 23.4
	  	 Assignment
	  	 	75	 
		 	 23.5
	  	 Debarment
	  	 	75	 
		 	 23.6
	  	 Independent Contractor
	  	 	75	 
		 	 23.7
	  	 Unenforceable Provisions and Severability
	  	 	75	 
		 	 23.8
	  	 Waiver
	  	 	75	 
		 	 23.9
	  	 Appendices
	  	 	76	 
		 	 23.10
	  	 Entire Understanding
	  	 	76	 
		 	 23.11
	  	 Amendments
	  	 	76	 
		 	 23.12
	  	 lnvoices
	  	 	76	 
		 	 23.13
	  	 Notice
	  	 	76	 

  
 [***] Certain information in this document has been
excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -vi- 

 License and Collaboration Agreement 

WHEREAS, SQZ owns or controls a unique, proprietary microfluidic squeezing technology for engineering antigen presenting cells; and 

WHEREAS, SQZ and Roche entered a Collaboration and License Agreement effective December 3, 2015 (“B-Cell
Agreement”) for the purposes of applying the SQZ platform technology to deliver molecules into B cells to develop vaccines; and 
 WHEREAS, SQZ is
independently conducting an internal program applying the SQZ technology to deliver molecules into T cells to develop T cell based vaccines (the “T-Cell Program”) and plans to initiate a Phase
I Study by the end of 2018; and 
 WHEREAS, SQZ and Roche agree that a PBMC-based vaccine (peripheral blood mononuclear cells, which include both T- and B-cells) [********] and would therefore like to merge their efforts into developing and commercializing one or more PBMC-based vaccines; and 

WHEREAS, SQZ and Roche wish to terminate the B-Cell Agreement and include the
T-Cell Program within this Agreement; and 
 WHEREAS, Roche has expertise in the research, development, manufacture
and commercialization of pharmaceutical products in the field of oncology and has a vast number of available oncology drugs for potential use in combination with products derived from the collaboration; and 

WHEREAS, SQZ and Roche will collaborate to develop and utilize the SQZ Platform to exploit products for PBMCs in oncology; and 

WHEREAS, initially, SQZ and Roche will combine their respective expertise to develop products against single, defined antigens in PBMCs; SQZ will run such
development until clinical proof-of concept at which point Roche may opt-in; and 

WHEREAS, SQZ and Roche will also explore products derived from tumor cell lysates as well as improvements to antigen-presenting cells. 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this Agreement and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, do hereby agree as follows: 
 1. Definitions 

As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings: 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

 1.1 Accounting Standards 

The term “Accounting Standards” shall mean GMP with respect to SQZ and IFRS with respect to Roche, and GMP, IFRS or other generally recognized
accounting standard, as applicable, with respect to any Related Party, in each case, as generally and consistently applied throughout the Party’s (or Related Party’s, as applicable) organization. Each Party will promptly notify the other
in the event that it changes the Accounting Standards pursuant to which its (or its Related Party’s) records are maintained; provided, however, that each Party may only use internationally recognized accounting principles (i.e., IFRS or GMP).

 1.2 Affiliate 
 The term “Affiliate” shall
mean any individual, corporation, association or other business entity that directly or indirectly controls, is controlled by, or is under common control with the Party in question. As used in this definition of “Affiliate,” the term
“control” shall mean the direct or indirect ownership of more than fifty percent (>50%) of the stock having the right to vote for directors thereof or the ability to otherwise control the management of the corporation or other business
entity whether through the ownership of voting securities, by contract, resolution, regulation or otherwise. Anything to the contrary in this paragraph notwithstanding, neither Chugai Pharmaceutical Co., Ltd, a Japanese corporation
(“Chugai”) and/or its subsidiaries (if any) nor Foundation Medicine, Inc., a Delaware corporation (“FMI”) and/or its subsidiaries (if any) shall be deemed as Affiliates of Roche unless Roche provides written notice
to SQZ of its desire to include Chugai, FMI and/or their respective subsidiaries (as applicable) as Affiliate(s) of Roche. 
 1.3 Agreement 

The term “Agreement” shall mean this document including any and all appendices and amendments to it as may be added and/or amended from time to time
in accordance with the provisions of this Agreement. 
 1.4 Agreement Term 

The term “Agreement Term” shall mean the period of time commencing on the Effective Date 2 and, unless this Agreement is terminated sooner as
provided in Article 1, expiring on the date when all royalty, profit share and other payment obligations under this Agreement have expired or been satisfied. 

1.5 Allocable Overhead 
 The term “Allocable
Overhead” shall mean costs incurred by a Party or for its account which are attributable to a Party’s supervisory or support services / functions, occupancy costs, corporate bonus (to the extent not charged directly to department), and its
payroll, information systems, human relations or purchasing functions and which are allocated to company departments based on space occupied or headcount or other activity-based method. 

1.6 Antigen 
 The term “Antigen” shall mean
(a) any polypeptide potentially capable of eliciting a T cell response when such polypeptide or its fragments are presented on a major histocompatibility complex (MHC) molecule, including all splice variants, mutants, natural variants, etc.
reasonably associated with such polypeptide, or (b) any nucleic acid sequence encoding the polypeptides describe in (a). For the avoidance of doubt, TCL is not an Antigen, and if an Antigen is identified through TCL and used in a Product, then
such Product would be considered an Antigen Product, not a TCL Product. 
  
 [***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -2- 

 1.7 Antigen Product 

The term “Antigen Product” shall mean a Product that contains Cargo containing one or more Antigens. 

1.8 Applicable Law 
 The term “Applicable Law”
shall mean any law, statute, ordinance, code, rule or regulation that has been enacted by a government authority (including without limitation, any Regulatory Authority) and is in force as of the Effective Date or comes into force during the
Agreement Term, in each case to the extent that the same is applicable to the performance by the Parties of their respective obligations under this Agreement. For clarity, the term Applicable Law shall include GLP, GCP, and GMP and their foreign
equivalents. 
 1.9 BBS 
 The term “BBS” shall
mean briefing book submission which is deemed to occur after (a) a decision has been made by SQZ management to seek permission for human testing of an Antigen Product or TCL Product based on the criteria set forth in Appendix 1.9, (b) a
briefing book has been submitted to the FDA based on the criteria set forth in Appendix 1.9, and (c) the first dosing of an animal in a GLP Tox Study, if required by the FDA, has been initiated. 

1.10 Business Day 
 The term “Business Day”
shall mean 9:00 am to 5:00 pm local time on a day other than a Saturday, Sunday or bank or other public or federal holiday in the US or Switzerland. 

1.11 Calendar Quarter 
 The term “Calendar
Quarter” shall mean each period of three (3) consecutive calendar months, ending March 31, June 30, September 30, and December 31 of each Calendar Year; provided, however, that the first Calendar Quarter of the
Agreement Term shall begin on the Effective Date and end on the last day of the then-current Calendar Quarter and the last Calendar Quarter of the Agreement Term shall begin on the first day of such Calendar Quarter and end on the last day of the
Agreement Term. 
 1.12 Calendar Year 
 The term
“Calendar Year” shall mean the period of time beginning on January 1 and ending December 31; provided, however, that the first Calendar Year of the Agreement Term shall begin on the Effective Date and end on December 31 of the
then-current Calendar Year and the last Calendar Year of the Agreement Term shall begin on the first day of such Calendar Year and end on the last day of the Agreement Term. 

1.13 Cargo 
 The term “Cargo” shall mean any
(a) Antigen, (b) combination of Antigens or (c) TCL, plus any other substance used in connection with each of (a), (b) or (c), to be introduced into PBMCs using a Microfluidic Chip. 

1.14 Change of Control 
 The term “Change of
Control” shall mean, with respect to a Party: (a) the acquisition by any Third Party of beneficial ownership of fifty percent (50%) or more of the then outstanding common shares or voting power of such Party, other than acquisitions by
employee benefit plans sponsored or maintained by such Party, or in connection with a public or private financing; (b)the consummation of a business combination involving such Party, unless, following such business combination, the stockholders of
such Party immediately prior to such business combination beneficially own directly or indirectly more than fifty percent (50%) of the then 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -3- 

 
outstanding common shares or voting power of the entity resulting from such business combination; or (c) the sale of all or substantially all of such Party’s assets or business relating
to the subject matter of the Agreement. Notwithstanding the foregoing, any transaction or series of transactions effected for the purpose of changing the form or jurisdiction of organization of such Party (such as a corporate reorganization) will
not be deemed a “Change of Control” for purposes of this Agreement. 
 1.15 Change of Control Group 

The term “Change of Control Group” shall mean with respect to a Party, the person or entity, or group of persons or entities, that is the acquirer
of, or a successor to, a Party in connection with a Change of Control, together with affiliates of such persons or entities that are not Affiliates of such Party immediately prior to the completion of such Change of Control of such Party. 

1.16 Clinical PoC 
 The term “Clinical PoC”
shall mean the achievement of clinical results and manufacturing requirements that meet criteria for efficacy and safety as well as other conditions that enable the decision to enter pivotal trials. A complete listing of such criteria for the
Initial Collaboration Product is attached as Appendix 1.16. The same or similar Clinical PoC criteria may be established, as judged by the JSC, for additional Collaboration Products, a SQZ Product or TCL Products. 

1.17 Clinical PoC Report 
 The term “Clinical PoC
Report” shall mean a written report by SQZ after database lock or such other time period as mutually decided by the JSC for the relevant Clinical Study setting forth how the criteria for Clinical PoC have been achieved. 

1.18 Clinical Study 
 The term “Clinical Study”
shall mean a Phase I Study, Phase II Study, or Phase Ill Study, or variations of the foregoing, as applicable. 
 1.19 Collaboration Antigen 

The term “Collaboration Antigen” shall mean each of (i) a human papillomavirus (“HPV”) antigen and (ii) each other Antigen
mutually selected by the Parties. For the avoidance of doubt, TCL is not a Collaboration Antigen. 
 1.20 Collaboration Plan 

The term “Collaboration Plan” shall mean for each Collaboration Antigen (or combination of Collaboration Antigens), SQZ Antigen, Roche Antigen or
TCL, the research and development activities, including time lines, resources, and a reasonably detailed budget for the current and the subsequent [********]. A complete Collaboration Plan for HPV/PBMC and the research activities for TCL and
improvements to antigen presenting cells is attached as Appendix 1.20. 
 1.21 Collaboration Product 

The term “Collaboration Product” shall mean an Antigen Product wherein one or more Antigens are Collaboration Antigens. 

1.22 Combination Product 
 The term “Combination
Product” shall mean a Product containing Cargo and PBMCs, plus one or more other components such as the SQZ Platform, Microfluidic Chips, a pharmaceutically active ingredient, or other therapeutic or prophylactic modality, or a Companion
Diagnostic, 
  
 [***] Certain information in this document has been excluded pursuant
to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -4- 

 
priced and sold in a single package containing such components or packaged separately but sold together for a single price. All references to Product in this Agreement shall be deemed to include
Combination Product. For clarity, with respect to Net Sales of a Combination Product, the Net Sales of a Combination Product shall only include the Relative Commercial Value as set forth in Section 12.10.3. 

1.23 Companion Diagnostic 
 The term “Companion
Diagnostic” shall mean any product that is used for predicting and/or monitoring the response of a human being to treatment with a Product (e.g. device, compound, kit, biomarker or service that contains a component that is used to detect or
quantify the presence or amount of an analyte in body or tissue that affects the pathogens of the disease). 
 1.24 Commercially Reasonable Efforts

 The term “Commercially Reasonable Efforts” shall mean [********] 

1.25 Compulsory Sublicense Compensation 
 The term
“Compulsory Sublicense Compensation” shall mean, for a given country or region in the Territory, the compensation paid to Roche by a Third Party (a “Compulsory Sublicensee”) under a license or sublicense of any applicable
Patent Rights, e.g. the SQZ Patent Rights, granted to the Compulsory Sublicensee (the “Compulsory Sublicense”) through the order, decree or grant of a governmental authority having competent jurisdiction in such country or region,
authorizing such Third Party to manufacture, use, sell, offer for sale, import or export a Product in such country or region in the Territory. 
 1.26
Confidential Information 
 The term “Confidential Information” shall mean any and all information, data or
know-how (including Know-How), whether technical or non-technical, oral or written, that is disclosed by one Party or its
Affiliates (“Disclosing Party”) to the other Party or its Affiliates (“Receiving Party”). Confidential Information shall not include any information, data or know-how that:

  

	 	(a)	 was generally available to the public at the time of disclosure, or becomes available to the public after
disclosure by the Disclosing Party other than through fault (whether by action or inaction) of the Receiving Party or its Affiliates, 

  

	 	(b)	 can be evidenced by written records to have been already known to the Receiving Party or its Affiliates prior
to its receipt from the Disclosing Party, 

  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -5- 

	 	(c)	 is obtained at any time lawfully from a Third Party under circumstances permitting its use or disclosure,

  

	 	(d)	 is developed independently by the Receiving Party or its Affiliates as evidenced by written records other than
through knowledge of Confidential Information, or 

  

	 	(e)	 is approved in writing by the Disclosing Party for release by the Receiving Party. 

The terms of this Agreement shall be considered Confidential Information of both Parties. Information disclosed under the
B-Cell Agreement shall be considered Confidential Information disclosed under this Agreement. 
 1.27
Continuation Election Notice 
 The term “Continuation Election Notice” shall mean the notice SQZ provides to Roche under Section 21.3.9
describing (i) SQZ’s bona fide intentions to continue ongoing development and/or commercialization of a Licensed Product and (ii) SQZ’s request for Roche’s continuation of activities during the termination notice
period and/or transfer of the data, material and information relating to such Licensed Product in accordance with Section 21.3.9. 
 1.28 Control

 The term “Control” shall mean (as an adjective or as a verb including conjugations and variations such as “Controls”
“Controlled” or “Controlling”) (a) with respect to Patent Rights and/or Know-How, the possession by a Party of the ability to grant a license or sublicense of such Patent Rights and/or Know-How, and (b) with respect to proprietary materials, the possession by a Party of the ability to supply such proprietary materials to the other Party as provided herein, in each case without violating the
terms of any agreement or arrangement between such Party and any other party existing as of the time such Party is required to grant such access, right to use, license or sublicense, as applicable, to the other Party hereunder. 

1.29 Cover 
 The term “Cover” shall mean (as an
adjective or as a verb including conjugations and variations such as “Covered,” “Coverage” or “Covering”) that the developing, making, using, offering for sale, promoting, selling, exporting or importing of a given
compound, formulation or product would infringe a claim of a Patent Right in the absence of a license under or ownership in the Patent Rights to which such claim pertains. The determination of whether a compound, formulation, process or product is
Covered by a particular claim of a Patent Right shall be made on a country-by-country basis. 

1.30 Development Costs 
 The term “Development
Costs” shall mean, with respect to an Antigen Product or TCL Product, costs and expenses incurred by a Party or its Affiliates during the Agreement Term directly in connection with the performance of any research and development activities for
such Antigen Product or TCL Product, in each case, in accordance with the applicable Collaboration Plan, and are recorded as an expense in accordance with the applicable Accounting Standards, reasonably incurred. Development Costs shall include but
are not limited to [********] 
  
 [***] Certain information in this document has been
excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -6- 

 1.31 Effective Date 

The term “Effective Date” shall mean the later of (a) the date of the last signature of this Agreement, or (b) if a HSR filing is made, the
second Business Day immediately following the earlier of: (i) the date upon which the waiting period under HSR expires or terminates early or (ii) the date upon which all requests to the Parties by the Federal Trade Commission or the
Justice Department, as the case may be, with regard to the transaction contemplated by this Agreement have been satisfactorily met and no objection on the part of the Federal Trade Commission or the Justice Department remains. 

1.32 EU 
 The term “EU” shall mean the European
Union and all its then-current member countries. 
 1.33 Expert 

The term “Expert” shall mean a person reasonably acceptable to both Parties having no less than ten (10) years of pharmaceutical industry
experience and expertise having occupied at least one senior position within a large pharmaceutical company relating to product commercialization and/or licensing but excluding any current or former employee or consultant of either Party and
excluding any person that owns equity or debt in either Party or its Affiliates (other than equity or debt owned through a broad-based mutual fund or exchange traded fund). Such person shall be fluent in the English language. 

1.34 FBMC 
 The term “FBMC” shall mean, with
respect to an Antigen Product or TCL Product, the fully burdened manufacturing cost in accordance with the applicable Accounting Standards to manufacture such an Antigen Product or TCL Product, consisting of the sum of: 

(a) If the applicable Antigen Product or TCL Product is manufactured by a Party or its Affiliate, the cost of goods thereof consisting of
[********] 
 (b) If the applicable Antigen Product or TCL Product is manufactured by a Third Party contract manufacturer, [********] 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -7- 

 1.35 FDA 

The term “FDA” shall mean the Food and Drug Administration of the United States of America. 

1.36 FDCA 
 The term “FDCA” shall mean the US
Food, Drug and Cosmetics Act. 
 1.37 Field 
 The term
“Field” shall mean the use of the SQZ Platform and a Microfluidic Chip to deliver Cargo into PBMCs for the treatment of oncologic Indications. For clarity oncologic Indications shall also include any Indication for a hematologic
malignancy. 
 1.38 Filing 
 The term “Filing”
shall mean the filing of an application with the relevant Regulatory Authority in accordance with Applicable Law to seek Regulatory Approval of a Product. 

1.39 First Commercial Sale 
 The term “First
Commercial Sale” shall mean, on a Licensed Product-by-Licensed Product and
country-by-country basis, the first invoiced sale of such Licensed Product to a Third Party by a Party or its Related Party following the receipt of any Regulatory
Approval required for the sale of such Licensed Product, or if no such Regulatory Approval is required, the date of the first invoiced sale of such Licensed Product to a Third Party by a Party or its Related Party in such country. 

1.40 FTE 
 The term “FTE” shall mean a full-time
equivalent person-year carried out by an appropriately qualified employee of a Party or its Affiliate, based upon a total of no less than one thousand eight hundred (1,800) working hours per year, undertaken in connection with the conduct of
research, development and/or commercialization of a Licensed Product under a Collaboration Plan or commercialization plan, as applicable. In no circumstance can the work of any given person exceed one (1) FTE. 

1.41 FTE Rate 
 The term “FTE Rate” shall mean
[********] 
 1.42 GAAP 
 The term “GAAP”
shall mean the United States generally accepted accounting principles, consistently applied. 
 1.43 GCP 

The term “GCP” shall mean the applicable ethical, scientific, and quality standards required by applicable Regulatory Authorities for designing,
conducting, recording, and reporting trials that 
  
 [***] Certain information in this
document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -8- 

 
involve the participation of human subjects, including as set forth in FDA regulations in 21 C.F.R. Parts 11, 50, 54, 56, 312, 314, and 320 and all related FDA rules, regulations, orders, and
guidances, and by the International Conference on Harmonization E6: Good Clinical Practices Consolidated Guideline (the “ICH Guidelines”), or as otherwise required by Applicable Law. 

1.44 Generic Product 
 The term “Generic
Product” shall mean, with respect to a given Licensed Product, a product (a) that contains (i) an identical active ingredient(s) as such Licensed Product, or (ii) a “highly similar” active ingredient(s) to such Licensed
Product, as the phrase “highly similar” is used in 42 U.S.C. § 262(i)(2), and subject to the factors set forth in FDA’s Guidance for Industry, “Quality Considerations in Demonstrating Biosimilarity to a Reference Protein
Product,” (February 2012), at Section VI, or any successor FDA guidance thereto, (b) for which Regulatory Approval is obtained by referencing regulatory materials of such Licensed Product, (c)is approved for use in such country (or region)
pursuant to a Regulatory Approval process governing approval of interchangeable or biosimilar biologics as described in 42 U.S.C. §§ 262, or a similar process for Regulatory Approval in any country (or region) outside the United States, or
any other similar provision that comes into force, or is the subject of a notice with respect to such Licensed Product under 42 U.S.C. § 262(1)(2) or any other similar provision that comes into force in such country (or region), and (d) is
sold in the same country as such Licensed Product by any Third Party that is not a Sublicensee of Roche or SQZ or their respective Affiliates and did not purchase such product in a chain of distribution that included any of the Parties or any of
their respective Affiliates or its Sublicensees. 
 1.45 GLP 

The term “GLP” shall mean the applicable good laboratory practice as required by the applicable Regulatory Authorities, including under 21 C.F.R.
Part 58 and all related FDA rules, regulations, orders, and guidances, and the requirements with respect to good laboratory practices prescribed by the European Community, the OECD (Organization for Economic Cooperation and Development Council) and
the ICH Guidelines, or as otherwise required by Applicable Law. 
 1.46 GLP Tox Study 

The term “GLP Tax Study” shall mean a study of the relationship between dose and its effects on the exposed animal, where (i) the study is to be
conducted in accordance with GLP standards and (ii) the study has been designed in expectation that the results may support establishment of a safe starting dose of the Product in human Clinical Studies. 

1.47 GMP 
 The term “GMP” shall mean the
applicable standards required by applicable Regulatory Authorities for conducting manufacturing activities to pharmaceutical products (or active ingredients), including those promulgated by the FDA or EMA, applicable ICH guidelines or as otherwise
required by Applicable Law. 
 1.48 Handle 
 The term
“Handle” shall mean preparing, filing, prosecuting (including interference and opposition proceedings) and maintaining (including interferences, reissue, re-examination, post -grant reviews,
inter-partes reviews, derivation proceedings and opposition proceedings). 
  
 [***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -9- 

 1.49 HSR 

The term “HSR” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules promulgated thereunder. If needed each
Party shall (a) cooperate with the other Party in the preparation, execution and filing of all documents that may be required pursuant to HSR or any other Applicable Law, and (b) observe all applicable waiting periods before such Roche
Antigen Option Right or Roche TCL Option Right is deemed to have been exercised, however for clarity Roche will be deemed to have timely exercised such Roche Antigen Option Right or Roche TCL Option Right if Roche provides notice prior to expiration
of the relevant Option Period. Each Party shall bear its own costs (including counsel or other expert fees) with respect to preparing, executing and filing such documents. Subject to the terms and conditions of this Agreement, each Party shall use
all reasonable efforts to take, or cause to be taken, all reasonable actions and to do, or cause to be done, all things necessary and appropriate to consummate the exercise of the Roche Antigen Option Right and/or Roche TCL Option Right. 

1.50 IFRS 
 The term “IFRS” shall mean
International Financial Reporting Standards. 
 1.51 IND 

The term “IND” shall mean an application as defined in the FDCA and applicable regulations promulgated by the FDA, or the equivalent application to
the equivalent agency in any other country or group of countries, the filing of which is necessary to commence clinical testing of the Products in humans. 

1.52 Indication 
 The term “Indication” shall
mean each disease or condition separately categorized in the World Health Organization’s International Classification of Diseases 10 coding system at the level defined two places to the right of the decimal point and for which a separate
Clinical Study is required to obtain Regulatory Approval. For clarity, two different lines of therapy or patient sub -populations for the same disease shall be deemed the same Indication. 

1.53 Initiation 
 The term “Initiation” shall
mean the date that a human is first treated with a Licensed Product in a Clinical Study approved, if approval is required, by the respective Regulatory Authority. 

1.54 Initiation Term 
 The term “Initiation
Term” shall mean the period of time from the Effective Date until the latest of [********] 
 1.55 Insolvency Event 

The term “Insolvency Event” shall mean circumstances under which a Party (a) has a receiver or similar officer appointed over all or a material
part of its assets or undertaking; (b) passes a resolution for winding-up (other than a winding-up for the purpose of, or in connection with, any solvent
amalgamation or reconstruction) or a court makes an order to that effect or a court makes an order for administration (or any equivalent order in any jurisdiction); (c) enters into any composition or arrangement with its creditors (other than
relating to a solvent restructuring); (d)ceases to carry on business; (e) is unable to pay its debts as they become due in the ordinary course of business. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -10- 

 1.56 Invention 

The term “Invention” shall mean an invention, discovery or improvement that is created in connection with any activity carried out pursuant to this
Agreement. Under this definition, an Invention may be made by employees or independent contractors of SQZ or its Affiliates solely or jointly with a Third Party (a “SQZ Invention”), by employees or independent contractors of Roche
or its Affiliates solely or jointly with a Third Party (a “Roche Invention”), or jointly by (a) employees or independent contractors of SQZ or its Affiliates and (b) employees or independent contractors of Roche or its
Affiliates, with or without a Third Party (a “Joint Invention”). 
 1.57 Joint Know-How 

The term “Joint Know-How” shall mean Know-How that is made jointly by
the Parties or their Affiliates or their Sublicensees in connection with any activity carried out pursuant to this Agreement. 
 1.58 Joint Patent Rights

 The term “Joint Patent Rights” shall mean all Patent Rights Covering a Joint Invention. 

1.59 JCC 
 The term “JCC” shall mean a joint
commercialization committee as described in Section 9.5. 
 1.60 JOT 

The term “JOT” shall mean a joint operating team described in Section 9.6. 

1.61 JSC 
 The term “JSC” shall mean the joint
steering committee described in Section 9.2. 
 1.62 Know-How 

The term “Know-How” shall mean proprietary or non-public data,
knowledge and information of any type whatsoever, in any tangible or intangible form, including, without limitation, know-how, trade secrets, practices, techniques, methods, processes, materials, prototypes,
equipment, microchips, software, algorithms, reagents, samples, chemical manufacturing data, toxicological data, pharmacological data, preclinical data, assays, platforms, formulations, specifications, formulations, formulae, quality control testing
data. 
 1.63 Licensed Product 
 The term “Licensed
Product” shall mean (i) an Antigen Product to which Roche has exercised a Roche Antigen Option to the corresponding Collaboration Product (containing a Collaboration Antigen or combination of Collaboration Antigens) or SQZ Product (a
“Licensed Antigen Product”), (ii) a Roche Product, i.e. a Roche Product is a Licensed Product from the outset (no option needs to be exercised), or (iii) a TCL Product provided that Roche has exercised the Roche TCL Option (a
“Licensed TCL Product”). 
 1.64 Microfluidic Chip 

The term “Microfluidic Chip” shall mean a microfluidic chip that is proprietary to SQZ and is configured and dimensioned to be used in connection
with the SQZ Platform and which has channels capable of constricting PBMCs to enable Cargo to be delivered into the PBMC. 
 1.65 MIT License 

The term “MIT License” shall mean the license agreement by and between SQZ and the Massachusetts Institute of Technology dated as of May 10,
2013, as amended. 
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -11- 

 1.66 NDA 

The term “NOA” shall mean either (i) a new drug application, including all necessary documents, data, and other information concerning a
Licensed Product, required for Regulatory Approval of the Product as a pharmaceutical product by the FDA or an equivalent application to the equivalent agency in any other country or group of countries (e.g. the marketing authorization application
(“MAA”) in the EU) or (ii) a biologics license application, or similar application for marketing approval of the Products for use in the Field submitted to the FDA, or a foreign equivalent of the FDA. 

1.67 Net Sales 
 The term “Net Sales” shall
mean, for a Licensed Product in a particular period, the amount calculated by subtracting from the Sales (as calculated by each Party in accordance with its Accounting Standards) of such Licensed Product for such period: (i) a lump sum
deduction of [********] of Sales in lieu of those deductions that are not accounted for on a Licensed Product-by-Licensed Product basis (e.g., freight, postage charges,
transportation insurance, packing materials for dispatch of goods, custom duties); (ii) uncollectible amounts accrued during such period based on a proportional allocation of the total bad debts accrued during such period and not already taken as a gross-to-net deduction in accordance with the then currently used Accounting Standards in the calculation of Sales of such Licensed Product for such period; (iii)credit card
charges (including processing fees) accrued during such period on such Sales and not already taken as a gross-to-net deduction in accordance with the then currently used
Accounting Standards in the calculation of Sales of such Licensed Product for such period; and (iv) government mandated fees and taxes (excluding income or franchise taxes) and other government charges accrued during such period not already
taken as a gross-to-net deduction in accordance with the then currently used Accounting Standards in the calculation of Sales of such Licensed Product for such period,
including, for example, any fees, taxes or other charges that become due in connection with any healthcare reform, change in government pricing or discounting schemes, or other action of a government or regulatory body. For clarity, no deductions
taken in calculating Sales under the definition of Sales may be taken a second time in calculating Net Sales. 
 1.68 Option Period 

The term “Option Period” shall mean, with respect to a Collaboration Product, SQZ Product or TCL Product for Roche to exercise the Roche Antigen
Option or Roche TCL Option, as applicable, the period beginning upon Roche’s receipt of the Clinical PoC Report, and ending [********] thereafter. 

1.69 Out-of-Pocket Costs 

The term “Out-of-Pocket Costs” shall mean with respect to certain
research, development or commercialization activities hereunder, specifically identifiable, direct expenses paid (or payable by the end of the then current Calendar Quarter) by either Party or its Affiliates to Third Parties and specifically
identifiable and incurred to conduct such activities, including payments to contract personnel (including contractors, consultants and subcontractors) in each case, pursuant to any Collaboration Plan, or commercialization plan, as applicable. 

1.70 Party 
 The term “Party” shall mean SQZ or
Roche, as the case may be, and “Parties” shall mean SQZ and Roche collectively. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -12- 

 1.71 Patent Rights 

The term “Patent Rights” shall mean all rights under any patent or patent application, in any country of the Territory, including any patents issuing
on such patent application, and further including any substitution, extension or supplementary protection certificate, reissue, reexamination, renewal, division, continuation or
continuation-in-part of any of the foregoing. 
 1.72 PBMCs 

The term “PBMCs” shall mean peripheral blood mononuclear cells having round nuclei, such as but not limited to monocytes, lymphocytes, dendritic
cells and macrophages, and shall include individual cell types as well as any combination of cell types. 
 1.73 Pharmacovigilance Agreement 

The term “Pharmacovigilance Agreement” shall mean an agreement entered into by the Parties to set forth the protocols and procedures for reporting
adverse events and complying with reporting requirements set forth by Regulatory Authorities. 
 1.74 Phase I Study 

The term “Phase I Study” shall mean a human clinical study in any country that would satisfy the requirements of 21 C.F.R. § 312.21 (a) (FDCA),
as amended from time to time, and the foreign equivalent thereof. 
 1.75 Phase II Study 

The term “Phase II Study” shall mean a human clinical study, for which the primary endpoints include a determination of dose ranges and/or a
preliminary determination of efficacy in patients being studied as described in 21 C.F.R. § 312.21(b) (FDCA), as amended from time to time, and the foreign equivalent thereof. 

1.76 Phase Ill Study 
 The term “Phase Ill
Study” shall mean a human clinical study that is prospectively designed to demonstrate statistically whether a product is safe and effective for use in humans in a manner sufficient to obtain regulatory approval to market such product in
patients having the disease or condition being studied as described in 21 C.F.R. § 312.21(c) (FDCA), as amended from time to time, and the foreign equivalent thereof. 

1.77 Pricing Approval 
 The term “Pricing
Approval” shall mean any approval, agreement, determination, or decision of a governmental authority establishing the price or level of reimbursement for a product that can be charged or reimbursed in a given country, region or jurisdiction.

 1.78 Profit & Loss 
 The term
“Profit & Loss” shall mean (provided that SQZ has exercised neither the First TCL Opt Out nor the Second TCL Opt Out), for a particular accounting period and the SQZ Territory, [********] 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -13- 

 1.79 Product 

The term “Product” shall mean a product for use in the Field that contains at a minimum (a) Cargo and (b) PBMCs. For clarity, one Product
is distinguished from another Product by containing a different Antigen, combination of Antigens, or TCL. For clarity, any product containing TCL shall be considered a single Product under this Agreement. 

1.80 Regulatory Approval 
 The term “Regulatory
Approval” shall mean any approvals, licenses, registrations or authorizations by a Regulatory Authority, necessary for the importation and sale of a Product in the Field in a regulatory jurisdiction in the Territory, which may include
satisfaction of all applicable regulatory requirements, notification requirements, and Pricing Approval. 
 1.81 Regulatory Authority 

The term “Regulatory Authority” shall mean any national, supranational (e.g., the European Commission, the Council of the European Union, the
European Medicines Agency), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity including the FDA, in each country involved in the granting of Regulatory Approval for a Product. 

1.82 Related Party 
 The term “Related Party”
shall mean a Party’s Affiliates and Sublicensees (but excluding distributors). 
 1.83 Research and Development Program 

The term “Research and Development Program” shall mean the activities undertaken by the Parties pursuant to the applicable Collaboration Plan, and
such other activities as the Parties may agree in writing. 
 1.84 Roche Antigen 

The term “Roche Antigen” shall mean an Antigen that was proposed by Roche to be a Collaboration Antigen and for which SQZ did not agree to include
such Antigen to be a Collaboration Antigen during the applicable time period pursuant to Section 6.3.2 and Roche subsequently elects to make such Antigen a Roche Antigen during such applicable time period. 

1.85 Roche Antigen Option 
 The term “Roche Antigen
Option” shall mean with respect to a Collaboration Antigen or SQZ Antigen, Roche’s option to obtain an exclusive (subject to SQZ’s retained rights if applicable) commercial license under SQZ IP to Exploit Licensed Products directed to
such Antigen in the Field in the Territory (subject to certain SQZ-retained commercialization rights, if applicable). 

1.86 Roche Group 
 The term “Roche Group” shall
mean collectively Roche, its Affiliates and its Sublicensees. 
 1.87 Roche IP 

The term “Roche IP” shall mean all intellectual property owned or Controlled by Roche or its Affiliates after the Effective Date and generated
through activities under a Research and Development Program. The term Roche IP shall exclude Joint Patent Rights and Joint KnowHow. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -14- 

 1.88 Roche Product 

The term “Roche Product” shall mean a Product which is an Antigen Product wherein the Antigens are all Roche Antigens. 

1.89 Roche TCL Option 
 The term “Roche TCL
Option” shall mean Roche’s option to obtain an exclusive (subject to SQZ’s retained rights if applicable) commercial license under SQZ IP to Exploit TCL Products in the Field in the Territory (subject to certain SQZ-retained commercialization rights, if applicable). 
 1.90 Royalty Term 

The term “Royalty Term” shall mean, with respect to a Shared Product, Roche Product, Unshared Product or TCL Product (outside the US if SQZ has not
exercised the First TCL Opt Out or the Second TCL Opt Out or worldwide if SQZ has exercised the First TCL Opt Out or the Second TCL Opt Out), as applicable, on a Licensed
Product-by-Licensed Product and country -by-country basis, the period commencing on the First Commercial Sale of such
Licensed Product in the applicable country until the later of (i) [********] after First Commercial Sale in such country of such Licensed Product (with regards to TCL Products, such period shall expire [********] after First Commercial Sale in such
country of the first TCL Product that is a Licensed Product), or (ii) the last to expire Valid Claim of any SQZ Patent Rights, Joint Patent Rights or Roche Product Specific Patent Rights (and in the case of Shared Products, SQZ Patent Rights,
Joint Patent Rights, Roche Product Specific Patent Rights, or the Patent Rights of Roche or its Affiliates) that Covers such Licensed Product. 
 1.91
Sales 
 The term “Sales” shall mean, for a Licensed Product in a particular period, the sum of (a) and (b): 

 

	 	(a)	 the amount stated in (i) for Roche, the Roche Holding AG “Sales” line of its externally
published audited consolidated financial statements or (ii) for SQZ, SQZ’s audited consolidated financial statements, in accordance with the Accounting Standards, as applicable, with respect to such Licensed Product for such period
(excluding sales to any Sublicensees that are not Affiliates of such Party). This amount reflects the gross invoice price at which such Licensed Product was sold or otherwise disposed of (other than for use as clinical supplies or free samples) by a
Party and its Affiliates to such Third Parties (excluding sales to any Sublicensees that are not Affiliates of such Party) in such period reduced by gross-to-net
deductions, if not previously deducted from such invoiced amount, taken in accordance with the then currently used Accounting Standards. 

By way of example, the gross-to-net deductions taken in
accordance with the Accounting Standards as of the Effective Date include the following: 
  

	 	(i)	 credits, reserves or allowances granted for (A) damaged, outdated, returned, rejected, withdrawn or
recalled Licensed Product, (B) wastage replacement and short-shipments; (C) billing errors and (D) indigent patient and similar programs (e.g., price capitation); 

	 	(ii)	 governmental price reductions and government mandated rebates; 

 

	 	(iii)	 chargebacks, including those granted to wholesalers, buying groups and retailers; 

 

	 	(iv)	 customer rebates, including cash sales incentives for prompt payment, cash and volume discounts; and

  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -15- 

	 	(v)	 taxes, duties and any other governmental charges or levies imposed upon or measured by the import, export, use,
manufacture or sale of a Product (excluding income or franchise taxes). 

 For purposes of clarity, sales by a Party and
its Affiliates to any Sublicensee shall be excluded from “Sales”. 
  

	(b)	 for Sublicensees that are not Affiliates (and excluding Compulsory Sublicensees), the sales amounts reported to
a Party and its Affiliates in accordance with the Sublicensee contractual terms and their then-currently used accounting standards. For the purpose of clarity, any such Sublicensee sales as reported to a Party in accordance with Compulsory
Sublicense agreements shall be excluded from the sales amount. 

 1.92 Shared Product 

The term “Shared Product” shall mean a Licensed Product which is (a) a Collaboration Product for which SQZ has exercised the SQZ Option, or
(b) a SQZ Product for which Roche has exercised the Roche Antigen Option. 
 1.93 SQZ Antigen 

The term “SQZ Antigen” shall mean an Antigen that was proposed by SQZ to be a Collaboration Antigen and for which Roche did not agree to include such
Antigen to be a Collaboration Antigen during the applicable time period pursuant to Section 6.3.2 and SQZ subsequently elects to make such Antigen a SQZ Antigen during such applicable time period. 

1.94 SQZ Base Patent Rights 
 The term “SQZ Base
Patent Rights” shall mean any and all Patent Rights in the Territory that are Controlled by SQZ at the Effective Date that are necessary or useful for the practice of the SQZ Platform or the Microfluidic Chips generally. A complete list of SQZ
Base Patent Rights relevant for activities in the Field and existing as of the Effective Date is set forth in Appendix 1.94 of this Agreement. 
 1.95
SQZ IP 
 The term “SQZ IP” shall mean (i) SQZ Know-How and (ii) SQZ Patent Rights, in each
case, Controlled by SQZ as of the Effective Date or generated in a Research and Development Program. 
 1.96 SQZ
Know-How 
 The term “SQZ Know-How” shall mean the Know-How that SQZ Controls at the Effective Date and during the Agreement Term that is necessary or reasonably useful for the discovery, use, manufacture, development or commercialization of the SQZ Platform,
Microfluidic Chips and/or a Product in the Field. The term SQZ Know-How shall exclude Joint Know-How. 

1.97 SQZ Option 
 The term “SQZ Option” shall
mean with respect to a Collaboration Antigen for which Roche has exercised the Roche Antigen Option, SQZ’s option to retain the exclusive commercial license, including under Roche IP, to Exploit all Licensed Antigen Products in the Field in the
SQZ Territory with respect to that Collaboration Antigen. 
 1.98 SQZ Patent Rights 

The term “SQZ Patent Rights” shall mean the Patent Rights that SQZ Controls Covering the discovery, use, manufacture, development or
commercialization of the SQZ Platform, Microfluidic Chips and/or a Product in the Field. The term SQZ Patent Rights shall include SQZ Base Patent Rights but shall exclude Joint Patent Rights. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -16- 

 1.99 SQZ Platform 

The term “SQZ Platform” shall mean all tangible equipment, technology and reagents that (i) are Covered by a SQZ Patent Right or incorporates
SQZ Know-How and (ii) are necessary or useful for the delivery of Cargo into a PBMC in conjunction with the Microfluidic Chip, but excluding the Microfluidic Chips themselves. 

1.100 SQZ Product 
 The term “SQZ Product” shall
mean an Antigen Product wherein the Antigens are all SQZ Antigens. 
 1.101 Sublicensee 

The term “Sublicensee” shall mean an entity to which Roche or SQZ has licensed rights (through one or multiple tiers), other than through a
Compulsory Sublicense, pursuant to this Agreement. 
 1.102 TCL 

The term “TCL” shall mean tumor cell lysate. For the avoidance of doubt, TCL is not an Antigen although a peptide synthesized through the use of a
sequence identified in TCL could potentially be a Roche Antigen, SQZ Antigen or Collaboration Antigen. 
 1.103 TCL Product 

The term “TCL Product” shall mean a Product that contains Cargo containing TCL. 

1.104 Territory 
 The term “Territory” shall
mean worldwide. For certain Licensed Products (as set forth elsewhere in the Agreement, “SQZ Territory” shall mean the US, and “Roche Territory” shall mean worldwide except the US. 

1.105 Third Party 
 The term “Third Party” shall
mean a person or entity other than (a) SQZ or any of its Affiliates or (b)Roche or any of its Affiliates. 
 1.106 Unshared Product 

The term “Unshared Product” shall mean any Collaboration Product for which (i) Roche exercises its Roche Antigen Option and (ii) SQZ does
not exercise its SQZ Option. 
 1.107 US 
 The term
“US” shall mean the United States of America and its territories and possessions. 
 1.108 US$ 

The term “US$” shall mean US dollars. 
 1.109 Valid
Claim 
 The term “Valid Claim” shall mean, with respect to any country, a claim of (a) an unexpired issued Patent Right that has not been
disclaimed, revoked or held invalid or unenforceable by final non-appealable decision of a court of competent jurisdiction or governmental agency, or (b) a patent application being prosecuted in good
faith and pending for less than seven (7) years from its earliest priority date in the relevant country; provided that if such patent application subsequently issues, it will be considered a Valid Claim at the time such patent issues. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -17- 

 1.110 Additional Definitions 

Each of the following definitions is set forth in the Section of this Agreement indicated below: 

 

			
	Definition	  	Section
	 AAA
	  	23.3
	 Accounting
Period
	  	13.1
	 Acauired
Party
	  	21.2.4
	 Alliance
Director
	  	9.3
	 Bankruptcy
Code
	  	22
	 B-Cell Agreement
	  	Recitals
	 Breachinq
Party
	  	21.2.1
	 CMO
	  	10.2
	 Compulsory Share
Percentage
	  	12.10.4.3
	 Compulsory
Sublicensee
	  	1.25
	 Co-Promotion Agreement
	  	11.2
	 Co-Promotion Option
	  	11.2
	 Decision
Period
	  	16.9
	 Delayed
Option
	  	12.4.1
	 Disclosing
Party
	  	1.26
	 Eliqible
Collaboration Product
	  	4.1
	 Expert
Committee
	  	12.10.4.4
	 Exploit
	  	3.2.1
	 First
PoC
	  	6.3.1
	 First TCL Opt
Out
	  	12.3.3.2
	 HPV
	  	1.19
	 H-W Suit Notice
	  	16.12
	 Indemnified
Partv
	  	18.3
	 Indemnifying
Party
	  	18.3
	 Initial
Collaboration Product
	  	6.2
	 Initial
Termination Period
	  	21.2.5
	 lnitiatinq
Party
	  	16.9
	 Joint
Invention
	  	1.56
	 JOT
	  	9.6
	 JRDT
	  	9.6
	 Licensed Antigen
Product
	  	1.63
	 Members
	  	9.2.1
	 Non-Acauired Party
	  	21.2.4
	 Non-Breaching Party
	  	21.2.1
	 Other
Collaboration Inventions
	  	16.1
	 Patent
Challenqe
	  	17.12
	 Patent Term
Extensions
	  	16.14
	 Payment
Currency
	  	13.3
	 Peremptory Notice
Period
	  	21.2.1
	 Post-Option
Product Specific Invention
	  	16.1
	 Post-Option Roche
Product Specific Invention
	  	16.1

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -18- 

			
	Definition	  	Section
	 Post-Option SQZ
Product Specific Invention
	  	16.1
	 Pre-Option Product Specific Invention
	  	16.1
	 Product
Trademark
	  	16.3
	 Publishing
Notice
	  	20.4
	 Publishing
Party
	  	20.4
	 Receiving
Party
	  	1.26
	 Reference Product
Sponsor
	  	16.13
	 Register
	  	16.7
	 Relative
Commercial Value
	  	12.10.3
	 Roche
Invention
	  	1.56
	 Roche’s
Matching Right
	  	3.8
	 Roche Product
Specific Patent Rights
	  	16.5
	 Roche Product
Trademarks
	  	16.3
	 Roche
Territory
	  	1.104
	 Second TCL Opt
Out
	  	12.3.3.2
	 Sensitive
Information
	  	21.2.4
	
Settlement
	  	16.9
	 SPCs
	  	16.14
	 SQZ
Invention
	  	1.56
	 SQZ Platform
Invention
	  	16.1
	 SQZ Platform
Patent Rights
	  	16.4
	 SQZ Product
Specific Patent Rights
	  	16.4
	 SQZ Product
Trademarks
	  	16.3
	 SQZ
Territory
	  	1.104
	 SQZ
Trademarks
	  	16.3
	 Suit
Notice
	  	16.9
	 T-Cell Program
	  	Recitals
	 Third Party
Antigen
	  	6.3.6
	 US Buy Out
Option
	  	12.12

 2. Existing Agreements and Programs 

2.1 Termination of B-Cell Agreement 

The Parties hereby terminate the B-Cell Agreement effective as of the Effective Date. Each Party agrees that such early
termination is a mutual agreement of and mutually beneficial to both Parties, with adequate notice having been given for the termination of the B-Cell Agreement. The termination of the B-Cell Agreement on the Effective Date will not relieve the Parties of any obligations accruing under the B-Cell Agreement prior to the Effective Date. However, there are no
outstanding payments under the B-Cell Agreement payable by one Party to the other Party. Notwithstanding the terms and conditions of the B-Cell Agreement, in particular,
the effects of termination provisions of the B-Cell Agreement, all rights, licenses and obligations of each of the Parties under the B-Cell Agreement is hereby
terminated upon the Effective Date, provided that the obligations and rights of the Parties under Sections 16 and 17 of the B-Cell Agreement shall survive such termination. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -19- 

 2.2 T-Cell Program 

The T-Cell Program shall be included under this Agreement and conducted in accordance with the terms and conditions of
this Agreement; provided, however, that conduct of the T-Cell Program shall be at SQZ’s sole discretion and shall not be subject to SQZ exercising Commercially Reasonable Efforts. 

3. Licenses, Exclusivity and Rights of First Refusal 

3.1 Research Licenses 
 SQZ grants to Roche a non-exclusive license under the SQZ IP solely for Roche to perform its research activities under the Collaboration Plans. Roche grants to SQZ a non-exclusive license under
Roche’s and its Affiliates’ intellectual property (not limited to Roche IP) solely for SQZ to perform its research activities under the Collaboration Plans. 

3.2 Development and Commercial Licenses for Antigen Products 

3.2.1 License to Roche for Antigen Products 

Subject to the terms and conditions of this Agreement and Roche exercising the Roche Antigen Option with regard to a Collaboration Product or SQZ Product, SQZ
hereby grants to Roche for each Licensed Antigen Product and Roche Product, an exclusive (even as to SQZ but subject to SQZ’s retained rights to develop Antigen Products in accordance with the Collaboration Plans and SQZ’s retained
commercialization rights, if applicable) license, including the right to sublicense through multiple tiers subject to Section 3.5, under SQZ IP to research, have researched, develop, have developed, make, have made, register, have registered,
use, have used, import, have imported, export, have exported, market, have marketed, distribute, have distributed, sell and have sold (collectively, “Exploit”) such Licensed Antigen Products and Roche Products in the Field in the
Territory. 
 3.2.2 License to SQZ for Antigen Products 

Subject to the terms and conditions of this Agreement and SQZ exercising the SQZ Option with regard to a Collaboration Product, Roche hereby grants to SQZ for
each Shared Product and any other SQZ Product an exclusive (even as to Roche but subject to Roche’s rights to develop Products in accordance with the Collaboration Plans and Roche’s commercialization rights in the Roche Territory for a
Collaboration Product and, if Roche exercises the Roche Antigen Option for a SQZ Product, for a SQZ Product) license, including the right to sublicense, under Roche IP to Exploit (i) the Shared Products in the Field in the SQZ Territory, and
(ii) any other SQZ Products in the Field in the Territory. 
 3.3 Development and Commercial License to Roche for TCL Products 

Subject to the terms and conditions of this Agreement and Roche exercising the Roche TCL Option, SQZ hereby grants to Roche an exclusive (even as to SQZ but
subject to SQZ’s retained rights to develop TCL Products in accordance with the Collaboration Plans and SQZ’s retained commercialization rights, if applicable) license, including the right to sublicense through multiple tiers subject to
Section 3.5, under SQZ IP to Exploit Licensed TCL Products in the Field in the Territory. 
 3.4 Grant Back License to SQZ 

Subject to the terms and conditions of this Agreement, Roche hereby grants to SQZ a non-exclusive right and license, including the right to sublicense through
multiple tiers, under Roche’s interest in all Patent Rights claiming Inventions owned by Roche pursuant to Section 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -20- 

 
16.1 (other than those Roche Inventions that are assigned to SQZ pursuant to Section 16.1), to Exploit products incorporating or based upon the SQZ Platform and/or Microfluidic Chips in the
Territory, including all uses of the SQZ Platform and/or Microfluidic Chips. Furthermore, SQZ shall have the right to use all data and results generated in a Research and Development Program to further develop the SQZ Platform and Microfluidic
Chips, provided that it shall not attribute such data and results directly to Roche or disclose the specific nature of the Products being developed pursuant to this Agreement (to the extent such information remains Confidential Information). Subject
to the terms and conditions of this Agreement, Roche hereby grants to SQZ the right to negotiate for an exclusive right and license, including the right to sublicense through multiple tiers, under Roche’s interest in all Patent Rights claiming
Inventions owned in whole or in part by Roche pursuant to Section 16.1 (other than those Roche Inventions that are assigned to SQZ pursuant to Section 16.1) to Exploit products incorporating or based upon the SQZ Platform and/or
Microfluidic Chips in the Territory, including all uses of the SQZ Platform and/or Microfluidic Chips. Such exclusive license would be under commercially reasonable terms and conditions to be negotiated in good faith. If the Parties are unable to
conclude negotiations within three (3) months, then SQZ’s right to negotiate shall expire and Roche shall have no further obligation to SQZ in this regard. 

3.5 Right to Sublicense and Subcontract 
 Roche and SQZ
shall have the right to sublicense their rights and obligations (through multiple tiers) or subcontract their obligations to Third Parties, in each case subject to such Third Parties being subject to the applicable terms and conditions of this
Agreement, including the confidentiality and assignment of inventions obligations consistent with those set forth in this Agreement; provided, however, to the extent a license from Roche to any Affiliate or Third Party is required under any
intellectual property rights that are the subject of the MIT License, Roche shall not have the right to grant such sublicense and Roche shall request SQZ to grant a license directly to such Affiliate or Third Party and SQZ shall grant such license
within the scope of the licenses granted to Roche hereunder. The Party granting the sublicense or subcontract shall remain primarily responsible for the actions and/or omissions of its sublicensees and subcontractors. 

3.6 MIT License 
 Roche acknowledges that the SQZ Patent
Rights include Patent Rights licensed to SQZ pursuant to the MIT License. SQZ shall maintain in full force and effect the MIT License. 
 3.7 Exclusivity

 During the Initiation Term, SQZ shall work exclusively with Roche on Antigens and TCL in the Field. [********]. SQZ shall continue to work exclusively
with Roche on any Licensed Product and any Antigen contained in such Licensed Product in the Field [********]. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -21- 

 3.8 Right of First Refusal 

[********] 
 3.9 License to Other Collaboration Inventions.

 Subject to the licenses and exclusivity provisions contained in this Agreement, SQZ hereby grants to Roche a
non-exclusive, fully-paid, perpetual, irrevocable license, including the right to sublicense through multiple tiers, under any Other Collaboration Inventions owned by SQZ (including any intellectual property
rights therein) for any and all uses. Subject to the licenses and exclusivity provisions contained in this Agreement, Roche hereby grants to SQZ a non-exclusive, fully-paid, perpetual, irrevocable license, including the right to sublicense through
multiple tiers, under any Other Collaboration Inventions owned by Roche (including any intellectual property rights therein) for any and all uses. To the extent any Other Collaboration Inventions are jointly owned, subject to the licenses and
exclusivity provisions contained in this Agreement, each Party shall be free to Exploit such jointly owned Other Collaboration Invention without duty of accounting to the other Party. 

4. Options 
 4.1 Option Exercise for Antigen Products

 On a Collaboration Product-by-Collaboration Product basis and SQZ Product-by-SQZ Product basis, Roche may exercise the Roche Antigen Option within the Option Period. For any Collaboration Product or SQZ Product to which Roche does not
exercise the Roche Antigen Option, SQZ shall retain all rights to such Products (and SQZ shall have no obligations to Roche with respect to any such Product). Beginning with the second Collaboration Product for which Roche has exercised the Roche
Antigen Option and every other (i.e. alternating) Collaboration Product for which Roche has exercised the Roche Antigen Option thereafter (each an “Eligible Collaboration Product”), SQZ may exercise the SQZ Option within [********]
following Roche’s exercise of the Roche Antigen Option. 
 Example 1: Roche has exercised the Roche Antigen Option for the Initial Collaboration
Product (HPV). Thereafter, SQZ may exercise the SQZ Option for the second, fourth, sixth, and so forth exercise of the Roche Antigen Option regarding a Collaboration Product, with each of the second, fourth, sixth, and so forth Collaboration
Products being an Eligible Collaboration Product. 
 Example 2: Roche has not exercised the Roche Antigen Option for the Initial Collaboration Product
(HPV), but exercises the Roche Antigen Option for the next Collaboration Product thereafter. Then, after such Collaboration Product, SQZ may exercise the SQZ Option for the second, fourth, sixth, etc. exercise of the Roche Antigen Option regarding a
Collaboration Product, with each of the second, fourth, sixth, and so forth Collaboration Products being an Eligible Collaboration Product. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -22- 

 4.2 Option Exercise for TCL Products 

Roche may exercise the Roche TCL Option within the Option Period. If Roche does not exercise the Roche TCL Option, then SQZ shall retain all rights to TCL
Products (and SQZ shall have no obligations to Roche with respect to any such TCL Products). 
 5. Diligence 

Each Party shall use Commercially Reasonable Efforts to conduct its activities under each Collaboration Plan. In the event that Roche desires exploratory
research to be conducted on a potential Antigen prior to nominating such Antigen as a Collaboration Antigen to determine if such antigen is compatible with the SQZ Platform, SQZ shall use Commercially Reasonable Efforts to perform such exploratory
research on such potential Antigen suggested by Roche. Roche shall use Commercially Reasonable Efforts to further develop and commercialize each Licensed Product in at least one Indication for each such Licensed Product. For any Collaboration
Product for which SQZ exercises the SQZ Option or any SQZ Product for which Roche exercises the Roche Antigen Option, SQZ shall use Commercially Reasonable Efforts to further develop and commercialize each such Shared Product in at least one
Indication for each such Shared Product. If Roche has exercised the Roche TCL Option, then each Party shall use Commercially Reasonable Efforts to further develop and commercialize at least one TCL Product. 

6. Research and Development 
 6.1 Conduct of the
Research and Development Program 
 6.1.1 Scope 

Roche and SQZ shall conduct mutually agreed Research and Development Programs pursuant to the Collaboration Plans. The activities conducted in connection with
the Research and Development Programs will be overseen by the JSC. 
 6.1.2 Collaboration Plan 

The Parties have prepared an initial Collaboration Plan for the Initial Collaboration Product and the research activities for TCL and improvements to antigen
presenting cells that is attached to the Agreement as Appendix 1.20. 
 Unless decided otherwise by the JSC, each initial Collaboration Plan for additional
Collaboration Products, Roche Products, SQZ Products and TCL Products will be drafted by the JRDT and presented to the JSC for approval. Subsequently, each Collaboration Plan will be updated annually by the JRDT and approved by the JSC. No later
than [********] before the beginning of each Calendar Year, the JSC shall review each Collaboration Plan and may approve amendments the Collaboration Plan. Any such changes shall be reflected in written amendments to the Collaboration Plan. 

Each Collaboration Plan will set forth (a) the scope of the Research and Development Program and the resources that will be dedicated to the activities
contemplated within the scope of the Research and Development Program, including the responsibilities of each Party, (b) specific objectives for each year, which objectives will be updated or amended, as appropriate, by the JSC as research
progresses, and (c) any reimbursable or shared expenses for such activities. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -23- 

 6.1.3 Technology Transfer 

The Parties shall cooperate with each other to transfer materials necessary or useful to enable the Parties to complete the activities envisioned under this
Agreement. For example, Roche will need to be provided with embodiments of the SQZ Platform and Microfluidic Chips for its development and regulatory needs to perform its responsibilities under the Agreement. 

6.2 Initial Collaboration Product 
 HPV is the
Collaboration Antigen for the first Collaboration Product for which a mutually agreed Collaboration Plan is attached to this Agreement (“Initial Collaboration Product”).  

6.3 Additional Products 
 6.3.1 First
Year Post PoC 
 Within [********] after Clinical PoC and availability of the Clinical PoC Report for the Initial Collaboration Product (or if earlier,
within [********] after Clinical PoC and availability of the Clinical PoC Report for the first Collaboration Product other than the Initial Collaboration Product; “First PoC”), the Parties through the JSC shall use Commercially
Reasonable Efforts to select at least one (1) and a maximum of two (2) additional Antigen Products to become Collaboration Products and initiate the corresponding Collaboration Plans within [********] after First PoC. If two (2) or
more Antigen Products of mutual interest are identified but the Parties are unable to agree on the selection of Collaboration Products, then Roche shall have the final say on which Antigen Products are selected to become Collaboration Products and
whether one (1) or two (2) Collaboration Products are selected. 
 6.3.2 Remaining Initiation Term 

After the [********] period following First PoC and for each year for the duration of the Initiation Term, the Parties may select additional Antigen Products
as Collaboration Products and initiate corresponding Collaboration Plans. Within [********] after each anniversary of First PoC, the Parties through the JSC may select any number of Collaboration Products and initiate corresponding Collaboration
Plans within [********] from such anniversary. For those Antigen Products for which there is no agreement to select as Collaboration Products, each proposing Party may select such Antigen Product(s) as SQZ Product(s) or Roche Product(s), as the case
may be, and initiate corresponding Collaboration Plans for SQZ Products or Roche Products, as applicable, within [********] after such anniversary. For any Antigen Product selected as a SQZ Product, Roche Product or Collaboration Product, as
applicable, but for which no development activities are initiated within such twelve (12) month period, such Antigen Product shall no longer be deemed a SQZ Product, Roche Product or Collaboration Product, as applicable, and shall once again be
available to be proposed at a later date during the Initiation Term as a Collaboration Product. If, within [********] after each anniversary of First PoC, more than two (2) Collaboration Products, SQZ Product(s) or Roche Product(s) are
selected, then SQZ shall use Commercially Reasonable Efforts to initiate corresponding Collaboration Plans within [********] from such anniversary. If SQZ has, in its own determination, a limited capacity to initiate more than two
(2) Collaboration Plans, then SQZ shall prioritize additional Products as follows: Collaboration Products first, a Roche Product next, then a SQZ Product, and thereafter an alternating Roche Product followed by a SQZ Product, until capacity is
reached. 
  
 [***] Certain information in this document has been excluded pursuant to
Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -24- 

 6.3.3 Expiry of Initiation Term 

For the avoidance of doubt, following expiry of the Initiation Term, if an Antigen or Antigen Product has not been selected as a Collaboration Product, Roche
Product or SQZ Product during the Initiation Term, either Party shall be free to research, develop and/or commercialize such Antigen or Antigen Product outside the activities under this Agreement and shall have no obligations to the other Party with
respect thereto. 
 6.3.4 Collaboration Products containing multiple Antigens 

Prior to [********] First PoC [********] the Parties shall only pursue single Antigen Collaboration Products. [********] First PoC and thereafter the procedure
under 6.3.2 (Remaining Initiation Term) may also include the selection of more than one Antigen in a Product (i.e. Collaboration Product, SQZ Product or Roche Product); provided that the selection of more than one Antigen in a Product shall require
the mutual consent of the Parties (i.e., no multi-Antigen Product may be a Collaboration Product, Roche Product or SQZ Product without the mutual written agreement of the Parties); provided that if the Parties do not reach mutual consent with
respect to selection of more than one Antigen in a Product, such dispute shall be resolved in accordance with the arbitration provisions set forth in Section 23.3. 

6.3.5 Failed Products; Abandoned or Discontinued Products 

If a Collaboration Plan for an Antigen Product is terminated and either Party, during the Initiation Term, proposes the initiation of a new Collaboration Plan
for such terminated Antigen Product, then the nomination of a Collaboration Product, SQZ Product or Roche Product shall apply as under Sections 6.3.1, 6.3.2 and 6.3.4, provided that the payment for initiation of a Collaboration Plan under
Section 12.4.1 shall be waived for the relevant Antigen Product and to the extent any milestone payments were already paid for such terminated Antigen Product under Sections 12.4.2, 12.4.3, 12.5 or 12.6, such milestones shall be reduced by
[********] for the replacement Antigen Product. In the event a new Collaboration Plan for such terminated Antigen Product is not proposed during the Initiation Term, following the Initiation Term such Antigen and Antigen Product shall not be deemed
a Collaboration Antigen, Roche Antigen, SQZ Antigen, Collaboration Product, SQZ Product and/or Roche Product, as applicable. For clarity, developing one or more backups to an Antigen Product and replacing the lead Antigen Product with such a backup
does not constitute the termination of a Collaboration Plan but rather a continuation of the same Collaboration Plan. 
 6.3.6 Products
containing Proprietary Antigens 
 If a Party wants to propose the use of an Antigen that is subject to terms and conditions imposed by a Third Party (a
“Third Party Antigen”), then the Parties shall discuss such terms and conditions at the JSC. If the JSC selects such Antigen for use in a Collaboration Product, then the Parties shall agree on the Parties obligations with respect to
the imposed terms and conditions and how such terms and conditions will be satisfied and by which Party or Parties. If there is no agreement, then (a) after the [********] period following First PoC, the Party proposing the Antigen may select
such Antigen to be that Party’s Antigen Product, i.e., a SQZ Product or Roche Product, as applicable, and such Party shall be solely responsible for satisfying the imposed terms and conditions, provided that Roche shall only have the right to
exercise the Roche Antigen Option with respect to such SQZ Product if Roche agrees to the terms and conditions of the Third Party agreement related to the Third Party Antigen for the Roche Territory (including, if applicable, the inability for Roche
to obtain commercialization rights to such Third Party Antigen in the Roche Territory, provided that SQZ had used best efforts to obtain sublicensable worldwide commercialization rights when negotiating such Third Party agreement), and
(b) during the [********] period following First PoC, no such Third Party Antigen may be selected. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -25- 

 6.3.7 Duration 

The first Research and Development Program shall commence on the Effective Date. Each Research and Development Program shall continue, unless earlier
terminated as provided for herein, through the completion of such Research and Development Program. 
 6.3.8 Extension 

The Initiation Term may be extended with written agreement of both Parties. In such case, the Parties shall negotiate in good faith the terms of any such
extension. 
 6.4 Reports, Audits and Records 

6.4.1 Reports and Audits 
 At least
[********] during the conduct of a Collaboration Plan, each Party shall prepare and provide to the JSC a detailed written report summarizing the progress of the work performed by such Party in the course of the Research and Development Program
during the preceding [********]. A slide deck presentation and/or the JRDT minutes can serve as a progress report for the relevant period of time. Promptly upon completion of a Collaboration Plan, each Party shall provide a final written report
summarizing its activities under the Research and Development Program and the results thereof. Upon the written request of a Party and not more than once in each [********], the other Party shall permit the requesting Party, at the requesting
Party’s expense, to have access during normal business hours to those records of the other Party that may be necessary to verify the basis for any payments hereunder, upon at least [********] prior written notice to the other Party. 

6.4.2 Research Records 
 Each Party shall
maintain records of the Research and Development Program (or cause such records to be maintained) in sufficient detail and in good scientific manner as will properly reflect all work done and results achieved by or on behalf of such Party in the
performance of the Research and Development Program. All laboratory notebooks shall be maintained for no less than the term of any Patent Rights issuing therefrom. 

7. Regulatory 
 7.1 SQZ Responsibility 

SQZ shall be solely responsible for all regulatory affairs related to the SQZ Platform and/or Microfluidic Chip for use in the treatment of human diseases and
conditions in the Territory, including the preparation and filing of applications for Regulatory Approval, as well as any or all governmental approvals required to develop, have developed, make, have made, use, have used, manufacture, have
manufactured, import, have imported, sell and have sold the SQZ Platform and Microfluidic Chips for use in the treatment of human diseases and conditions. 

Prior to Clinical PoC for a given Collaboration Product, Roche Product, TCL Product or SQZ Product, SQZ shall be solely responsible for all regulatory affairs
related to such Product for use in the treatment of human diseases and conditions in the Territory, including the preparation and filing of INDs. SQZ shall be responsible for pursuing, compiling and submitting all regulatory 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -26- 

 
filing documentation for, and for interacting with Regulatory Authorities with respect to such INDs; provided that (a) for Collaboration Products, and TCL Products, SQZ shall only file an
IND following a good faith effort to reach consensus with the JSC and (b) SQZ shall only file an IND for Roche Products pursuant to the JSC reaching consensus to do so. 

For all completed study reports necessary for development and Regulatory Approval of Products, SQZ shall provide necessary documentation Controlled by SQZ to
confirm data reliability, as required by Article 43 of the Japanese Pharmaceutical Affairs Law Enforcement Regulations and related notifications, including, but not limited to original author signatures, raw data lists, and GLP and GCP compliance
information. SQZ shall update Roche at each JSC meeting of all regulatory interactions and progress with respect to the foregoing activities. SQZ shall supply Roche with a copy of all material communications related to Product to or from Regulatory
Authorities for all countries of the Territory mutually agreed upon by the Parties. Upon the request of Roche, SQZ shall supply Roche with a copy of all communications to or from such Regulatory Authorities that are necessary for the development and
Regulatory Approval of Products. 
 7.2 Roche Responsibility 

Following Clinical PoC for a given Licensed Product (other than Shared Products in the SQZ Territory), Roche shall be solely responsible for all regulatory
affairs related to such Licensed Products in the Field in the Territory including preparation and filing of INDs and applications for Regulatory Approvals. Roche shall be responsible for pursuing, compiling and submitting all regulatory filing
documentation, and for interacting with regulatory agencies, for all such INDs and Regulatory Approvals. Roche shall consult with SQZ on regulatory matters with regards to such Licensed Products and SQZ shall have observer rights in all interactions
with Regulatory Authorities in the US, EU (and individual country Regulatory Authorities in the EU) and China. Prior to Roche’s starting Clinical Study enrollment activities with regard to Licensed Products, SQZ shall transfer to Roche all
relevant historical clinical safety data Controlled by SQZ that are necessary for development or Regulatory Approval of such Licensed Products. Any such safety information on serious adverse events shall be provided in CIOMS format and safety
information on non-serious adverse events shall be provided in English Line Listing format. 
 7.3 Responsibility
for Shared Products 
 Following exercise of the SQZ Option for a given Shared Product or the Roche Antigen Option for a given Shared Product, the Party
assigned responsibility for conducting the global Clinical Study shall be solely responsible for all regulatory affairs related to such Shared Product for use in the treatment of human diseases and conditions in the Territory, including the
preparation and filing of INDs and applications for Regulatory Approvals. If Roche is responsible for conducting the global Clinical Study, then SQZ shall transfer all INDs with respect to the Shared Product to Roche at a time to be agreed after
exercise of the SQZ Option or Roche Antigen Option, as applicable. The Party responsible for conducting the global Clinical Study shall be responsible for pursuing, compiling and submitting all regulatory filing documentation for, and for
interacting with Regulatory Authorities with respect to such INDs and Regulatory Approvals in the SQZ Territory. Such Party shall consult with the other Party on such regulatory matters with regards to such Shared Products in the SQZ Territory and
the other Party shall have observer rights in all interactions with Regulatory Authorities in countries where it has commercialization rights (i.e., SQZ in the SQZ Territory, and Roche in the Roche Territory), and in any case at least in the US, EU
and China. 
 Following Filing for a Shared Product, Roche shall have the right and responsibility for all regulatory affairs related to such Shared Product
in the Roche Territory; and SQZ shall have the right and responsibility for all regulatory affairs related to such Shared Product in the SQZ Territory. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -27- 

 7.3.1 If Roche has conducted the global Clinical Study 

Within [********] after Filing for a Shared Product in the SQZ Territory, if applicable, Roche shall transfer to SQZ all relevant historical clinical raw and
safety data related to all such countries where the global Clinical Study has taken place according to the Collaboration Plan. Roche shall transfer and assign to SQZ all INDs in the SQZ Territory in its possession and control. Prior to the transfer,
Roche shall provide to SQZ copies of all material correspondence with the FDA. In addition, Roche shall transfer and assign to SQZ any regulatory dossiers containing information necessary or useful to SQZ in connection with its Filings of Shared
Product to the FDA, including, but not limited to Clinical Study dossiers, regulatory correspondence, and Regulatory Authority meeting minutes. 

7.3.2 If SQZ has conducted the global Clinical Study 

Within [********] days after Filing for a Shared Product in countries within the Roche Territory, if applicable, SQZ shall transfer to Roche all relevant
historical clinical raw and safety data related to all such countries where the global Clinical Study has taken place according to the Collaboration Plan. SQZ shall transfer and assign to Roche all INDs in the Roche Territory in its possession and
control. Prior to the transfer, SQZ shall provide to Roche copies of all material correspondence with the applicable Regulatory Authorities. In addition, SQZ shall transfer and assign to Roche any regulatory dossiers containing information necessary
or useful to Roche in connection with its Filings of Shared Product to the applicable Regulatory Authorities, including, but not limited to Clinical Study dossiers, regulatory correspondence, and Regulatory Authority meeting minutes. 

7.4 Rights of Reference 
 Each Party hereby grants to the
other Party the right to reference all INDs and regulatory materials in its possession and Control necessary for seeking Regulatory Approval of a Licensed Product solely in connection with each Party’s exercise of the licenses granted to it
hereunder. In addition, each Party hereby grants to the other Party the right to reference any regulatory dossiers in its possession and Control containing information necessary for the development and Regulatory Approval of Licensed Products solely
in connection with each Party’s exercise of the licenses granted to it hereunder, including, but not limited to, Clinical Study dossiers, regulatory correspondence, Regulatory Authority meeting minutes and study reports from completed non-clinical and clinical studies. All documentation is to be provided in English. 
 7.5 Reporting Adverse Events

 The Parties mutually agree to execute a separate Pharmacovigilance Agreement as deemed applicable specifying the procedures and timeframes for
compliance with the Applicable Laws pertaining to safety reporting of the Licensed Product(s) and their related activities. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -28- 

 8. Development 

8.1 Development Prior to Option Exercise 

8.1.1 Pre-Clinical Research Activities 

After initiation of a Collaboration Plan, SQZ shall have responsibility for the conduct and execution of all
pre-clinical research activities for Roche Products, SQZ Products, Collaboration Products and TCL Products in accordance with the applicable Collaboration Plan. 

8.1.2 Development Prior to Clinical PoC 

SQZ shall have responsibility for the conduct and execution of all development activities prior to Clinical PoC (e.g, GLP toxicology, IND, Phase I
Studies/Clinical PoC studies) for Roche Products, SQZ Products, Collaboration Products and TCL Products in accordance with the applicable Collaboration Plan subject to the applicable sharing of Development Costs. 

8.2 Development after Option Exercise, Development of Roche Products 

8.2.1 Unshared Products, Roche Products and TCL Products after First TCL Opt Out 

Roche shall have responsibility at its own cost for the conduct of all clinical development in accordance with the applicable Collaboration Plan for Unshared
Products, Roche Products and TCL Products after First TCL Opt Out. SQZ shall transfer all INDs with respect to such Products to Roche at a time to be agreed after exercise of the Roche Antigen Option, Roche TCL Option or First TCL Opt Out, as
applicable. Roche shall keep SQZ informed of clinical development activities and share the Collaboration Plan through the JSC. Roche shall be responsible for all decision making with respect to clinical development. Roche shall consult with SQZ on
regulatory matters with regards to Licensed Products and SQZ shall have observer rights in all interactions with US regulatory authorities. 

8.2.2 Shared Products 
 The Parties
anticipate that clinical development for Shared Products will occur through global Clinical Studies with one Party running a global Clinical Study. At least [********] prior to the anticipated start of a first Clinical Study after exercise of the
SQZ Option for a Shared Product or Roche Antigen Option for a Shared Product, as applicable, the Parties, through the JSC, shall discuss whether Roche, SQZ or both Parties jointly shall have responsibility for the conduct of all clinical development
for such Shared Product. Roche shall have final say on which Party would run each global Clinical Study. Such global Clinical Study shall be conducted in accordance with the applicable Collaboration Plan and subject to both Parties sharing
Development Costs. The Parties shall strive to establish a global Collaboration Plan that benefits both Parties in their respective regions for commercialization. 

After first Regulatory Approval for a given Shared Product, to the extent that one Party wishes to conduct Clinical Studies in an Indication that the other
Party does not wish to co-fund for such Shared Product, the Party wishing to conduct such Clinical Study may do so at its own expense. The other Party shall have the right (but not the obligation) to access
the Clinical Study data of such studies that it did not co-fund for purposes of filing for Regulatory Approval in their commercialization region by paying [********] of the Development Costs incurred by the
Party owning such clinical study data. For clarity, conduct of Clinical Studies in non-oncology indications shall require mutual agreement of the Parties. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -29- 

 8.2.3 TCL Products 

Roche shall have responsibility for the conduct of all clinical development for TCL Products in accordance with the applicable Collaboration Plan subject to
the applicable sharing of Development Costs. SQZ shall transfer all INDs with respect to TCL Products in the Territory to Roche at a time to be agreed after exercise of the Roche TCL Option. 

8.2.4 Shared Products and TCL Products in combination with Roche products 

With regards to Shared Products and Licensed TCL Products that are combined with Roche products (i.e., that Roche owns or controls, other than Licensed
Products) in Clinical Studies, all regulatory filings shall be held in Roche’s name, and Roche shall lead all interactions with Regulatory Authorities. Roche will provide advance copies of any correspondence with a Regulatory Authority for
which there is any issue or question about such Licensed Product. In all cases, SQZ will have the right (but not obligation) to participate in and attend discussions with Regulatory Authorities related to such Licensed Product in the SQZ Territory.

 8.2.5 Exchange of Information 
 The
Parties shall disclose and make available to each other all data and information Controlled by such Party that is necessary to enable the other Party to conduct development of the Products and, solely as to SQZ, the SQZ Platform and the Microfluidic
Chips. 
 9. Governance 
 9.1 General 

In general, the Parties intend to govern this collaboration through empowered joint committees and teams that operate by consensus while making its decisions
with speed. The Parties recognize that there may be exceptions to this principle where reaching consensus isn’t possible and one Party will need to make a final decision on a given matter in order to preserve the importance of progressing with
speed. 
 9.2 Joint Steering Committee 
 Within
[********] after the Effective Date, the Parties shall establish a JSC that will monitor and provide strategic oversight of the research and development activities under this Agreement and facilitate communications between the Parties. 

9.2.1 Members 
 The JSC shall be composed
of [********] persons (each member of a committee, a “Member”). [********] shall be entitled to appoint [********] Members with appropriate seniority and functional expertise. Each Party may replace any of its Members and appoint a
person to fill the vacancy arising from each such replacement. A Party that replaces a Member shall notify the other Party at least [********] prior to the next scheduled meeting of the JSC. Both Parties shall use reasonable efforts to keep an
appropriate level of continuity in representation. Both Parties may invite a reasonable number of additional experts and/or advisors to attend part or the whole JSC meeting with prior notification to the JSC; provided that such participants shall
have no voting authority at the JSC, provided further that if such non-member is a Third Party, then such Third Party shall be subject to the prior approval of the other Party and such Third Party shall be
under obligations of confidentiality and non-use regarding Confidential Information and assignment of inventions that are substantially the same as those undertaken by the Parties pursuant to this Agreement.
Members may be represented at any meeting by another person designated by the absent Member. Until there is a first Licensed Product, the JSC shall have two (2) co-chairpersons, one from each Party. After
there is a first Licensed Product, the JSC shall be chaired by a Roche Member. The role of the co-chairpersons or 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -30- 

 
chairperson, as applicable, shall be to convene and preside at meetings of the JSC, as applicable, to prepare and circulate agendas and to ensure the preparation, distribution and approval of
minutes. The co-chairpersons shall have no additional powers or rights beyond those held by the other JSC representatives. Each Party may replace its co-chairperson at
any time upon written notice to the other Party. 
 9.2.2 Responsibilities of the JSC 

In addition to its overall responsibility for monitoring and providing strategic oversight with respect to the Parties’ activities under this Agreement,
the JSC shall in particular have the responsibility and authority to: 
  

	(a)	 create and disband the JRDT and other JOTs when deemed appropriate (provided, however that the timing for
creating the JRDT and other JOTs must be agreed upon by both Parties and are not subject to final decision by either Party); 

  

	(b)	 establish and set expectations and activities for the JRDT and other JOTs (provided, however that the
allocation of responsibilities among the teams must be agreed upon by both Parties and are not subject to final decision by either Party); 

  

	(c)	 oversee the JRDT and other JOTs; 

 

	(d)	 discuss and approve Collaboration Plans as established and presented by the JRDT for additional Collaboration
Products, Roche Products, SQZ Products and TCL Products, including timelines, date of Initiation and criteria for decision points and Clinical PoC criteria, provided, however, that with respect to Roche Products, Roche has final decision making
authority at the JSC, which is not subject to final decision by SQZ; 

  

	(e)	 revise and approve any revisions to a Collaboration Plan as established and presented by the JRDT, including
budget, for the current and the subsequent two (2) Calendar Years (or three (3) Calendar Years for Licensed Products) if Development Costs will be shared during that period (provided, however that Clinical PoC criteria for Collaboration
Products, and TCL Products must be agreed upon by both Parties and are not subject to final decision by SQZ); 

  

	(f)	 review and oversee the execution of Collaboration Plans; 

 

	(g)	 review and oversee exploratory research related to TCL and potential Antigens suggested by Roche;

  

	(h)	 discuss and approve plans for additional research outside Collaboration Plans, including improvements to
antigen-presenting cells; 

  

	(i)	 approve criteria for BBS in the same form or similar form to Initial Antigen Product BBS criteria set forth in
Appendix 1.9 for a given Antigen Product or TCL Product at least six (6) months prior to the anticipated BBS for such Antigen Product or TCL Product (approval of criteria for a TCL Product requires mutual consent of both Parties and is not
subject to final decision by SQZ), as applicable and determine whether criteria have been met; 

  

	(j)	 approve criteria for entry into human for a given Antigen Product or TCL Product at least six (6) months
prior to the anticipated Initiation of a first Phase I Study; 

  

	(k)	 monitor the development of Licensed Products in the Field; 

 

	(l)	 monitor implementation of the transfer to Roche of the SQZ Platform and Microfluidic Chips to Roche for use
with Licensed Products through the JRDT; 

  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -31- 

	(m)	 monitor and implement the transfer of Licensed Products to Roche, in accordance with the terms of this
Agreement; 

  

	(n)	 recommend action items to its respective decision making bodies; 

 

	(o)	 attempt to resolve any disputes on an informal basis; and 

 

	(p)	 perform such other functions as appropriate, and direct each JOT to perform such other functions as
appropriate, to further the purposes of this Agreement, in each case as agreed in writing by the Parties (with neither Party having a casting vote thereon). 

The JSC shall have no responsibility and authority other than that expressly set forth in this Section 9.2.2. 

9.2.3 Meetings 
 The JSC shall meet at
least [********] during the Agreement Term unless the Parties mutually agree in writing to a different frequency for such meetings. No later than [********] prior to any meeting of the JSC, the co-chairpersons
or chairperson, as applicable, of the JSC shall prepare and circulate an agenda for such meeting; provided, however, that either Party may propose additional topics to be included on such agenda. Either Party may also call a special meeting of the
JSC (by videoconference, teleconference or in person) by providing at least [********] prior written notice to the other Party if such Party reasonably believes that a significant matter must be addressed prior to the next scheduled meeting, in
which event such Party shall work with the co-chairpersons or chairperson, as applicable, of the JSC and the Alliance Directors of both Parties to provide the members of the JSC no later than [********] prior
to the special meeting with an agenda for the meeting and materials reasonably adequate to enable an informed decision on the matters to be considered. The JSC may meet in person, by videoconference or by teleconference. Notwithstanding the
foregoing, at least [********] meetings per Calendar Year shall be in person unless the Parties mutually agree in writing to waive such requirement. In -person JSC meetings will be held at locations selected by SQZ or Roche, on an alternating
basis. Each Party will bear the expense of its respective JSC members’ and non-JSC members’ participation in JSC meetings. Meetings of the JSC shall be effective only if at least [********] of each
Party (excluding the Alliance Director) is present or participating in such meeting. 
 9.2.4 Minutes 

JSC meetings shall be summarized in reasonably detailed written minutes that reflect, without limitation, material decisions made and action items identified
at such meetings. During the course of the initial Collaboration Plan and before exercise of the Roche Antigen Option, SQZ will be responsible for preparing such meeting minutes. After Roche exercises the Roche Antigen Option, the co-chairpersons shall be responsible for designating a JRDT member for preparing such meeting minutes. Draft JSC meeting minutes shall be circulated to all meeting participants (JSC and JRDT members) for comment and
review within [********] after the relevant meeting. The participants of the JSC shall have [********] to provide comments. The Party preparing the minutes shall incorporate timely received comments and distribute finalized minutes to all Members of
the JSC within [********] days of the relevant meeting. The co-chairpersons or chairperson, as applicable, shall recommend the final version of the minutes for approval at the next JSC meeting before its
distribution. 
  
 [***] Certain information in this document has been excluded pursuant
to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -32- 

 9.2.5 Decisions 

9.2.5.1 Decision Making Authority 
 The JSC shall
decide matters within its responsibilities set forth in Section 9.2.2. 
 9.2.5.2 Consensus; Good Faith 

The Members of the JSC shall act in good faith to cooperate with one another and seek agreement with respect to issues to be decided by the JSC. The Parties
shall endeavor to make decisions by consensus. 
 9.2.5.3 Failure to Reach Consensus 

If the JSC is unable to decide a matter by consensus, then such matter shall be referred to the Chief Executive Officer of SQZ or equivalent position or
his/her nominee and the Head of Roche Partnering or equivalent position or his/her nominee for resolution, who together shall use reasonable and good faith efforts to reach a decision by consensus within [********] after the date such matter is
referred to them. If the Parties still fail to reach a decision within such [********] then, [********] Notwithstanding the foregoing, the selection of Antigen Products as Collaboration Products, Roche Products and/or SQZ Products will be as set
forth in Sections 6.3.1 and 6.3.2. Any such decision pursuant to this Section 9.2.5.3 shall constitute a decision of the JSC. 

9.2.5.4 Exceptions to Final Decision Making Authority 

Notwithstanding Section 9.2.5.3, neither Party shall have the final decision making authority to amend, modify or waive any term of this Agreement. 

9.3 Alliance Director 
 Each Party shall appoint one
person to be its point of contact with responsibility for facilitating communication and collaboration between the Parties (each, an “Alliance Director”). The Alliance Directors shall be permanent participants at the JSC meetings
(but not members) and may attend JRDT and other JOT meetings, and JCC meetings, as appropriate. The Alliance Directors shall facilitate resolution of potential and pending issues and potential disputes to enable the JSC to reach consensus and avert
escalation of such issues or potential disputes. 
 9.4 Information Exchange 

During the Agreement Term, SQZ and Roche shall exchange the information in relation to its activities under this Agreement through the JSC and SQZ and Roche
may ask reasonable questions in relation to the above information and offer advice in relation thereto. SQZ shall give due consideration to Roche’s input. The JSC may determine other routes of information exchange. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -33- 

 9.5 Joint Commercialization Committee 

Approximately [********] before Regulatory Approval of the first Shared Product or at an earlier time as deemed appropriate by the JSC, the Parties shall
establish a JCC to oversee the commercialization activities of Shared Products under this Agreement, if deemed necessary. The JCC shall continue until such time that no Shared Products or TCL Products are or will be commercialized. 

9.5.1 Members 
 The JCC shall be composed
of [********] Members. Roche and SQZ each shall be entitled to appoint [********] Members, as applicable, with appropriate seniority and expertise in commercialization. Each Party may replace any of its Members and appoint a person to fill the
vacancy arising from each such replacement. A Party that replaces a Member shall notify the other Party at least [********] prior to the next scheduled meeting of the JCC. Both Parties shall use reasonable efforts to keep an appropriate level of
continuity in representation. Both Parties may invite a reasonable number of additional experts and/or advisors to attend part or the whole JCC meeting with prior notification to the JCC; provided that such participants shall have no voting
authority at the JCC, provided further that if such non -member is a Third Party, then such Third Party shall be subject to the prior
approval of the other Party and such Third Party shall be under obligations of confidentiality and non-use regarding Confidential Information and assignment of inventions that are substantially the same as
those undertaken by the Parties pursuant to this Agreement. Members may be represented at any meeting by another person designated by the absent Member. The chairperson shall be a Roche Member. 

9.5.2 Responsibilities of the JCC 
 The
JCC shall have the responsibility and authority to: 
  

	(a)	 revise and approve any revisions to the global commercialization plan; 

 

	(b)	 review and oversee the execution of the global commercialization plan; 

 

	(c)	 establish timelines and criteria for decision points; 

 

	(d)	 determine whether criteria have been met; 

 

	(e)	 create, disband and oversee one or more JOTs for commercialization activities as deemed appropriate;

  

	(f)	 establish and set expectations and mandates for the JOTs created by the JCC; 

 

	(g)	 monitor and implement the transfer of the SQZ Platform and Microfluidic Chip to Roche for use in Licensed
Products; and 

  

	(h)	 attempt to resolve any disputes arising in the course of commercialization activities conducted under this
Agreement on an informal basis. 

 The JCC shall have no responsibility and authority other than that expressly set forth in this
Section 9.5.2. 
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -34- 

 9.5.3 Meetings 

The Chairperson or his/her delegate will be responsible for sending invitations and agendas for all JCC meetings to all Members at least [********] before the
next scheduled meeting of the JCC. The venue for the meetings shall be agreed by the JCC. The JCC shall hold meetings at least [********], either in person or by tele-/video-conference, and in any case as frequently as the Members of the JCC may
agree shall be necessary, but not more than [********] times a year. The Alliance Director of each Party may attend the JCC meetings as a permanent participant. 

9.5.4 Minutes 
 The chairperson will be
responsible for designating a Member to prepare reasonably detailed written minutes of all JCC meetings that reflect, without limitation, material decisions made and action items identified at such meetings and circulate draft meeting minutes to
each participant of the JCC for comment and review within [********] after the relevant meeting. The participants of the JCC shall have [********] to provide comments. The Party preparing the minutes shall incorporate timely received comments and
distribute finalized minutes to all participants of the JCC within [********] days of the relevant meeting. The chairperson approves the final version of the minutes before its distribution. 

9.5.5 Decisions 
 9.5.5.1
Decision Making Authority 
 The JCC shall decide matters within its responsibilities set forth in Section 9.5.2. 

9.5.5.2 Consensus; Good Faith 
 The Members of
the JCC shall act in good faith to cooperate with one another and seek agreement with respect to issues to be decided by the JCC. The Parties shall endeavor to make decisions by consensus. 

9.5.5.3 Failure to Reach Consensus 
 If the JCC
is unable to decide a matter by consensus, then such matter shall escalate to the GPS TA-Head or Global Head GPS for Roche and the Chief Commercial Officer or Chief Executive Officer for SQZ. If the Parties
still fail to reach a decision within [********] then, subject to Section 9.2.5.4, [********] Notwithstanding the foregoing, the exceptions to a Party’s decision making authority set forth in Section 9.2.5.4 will apply to the JCC.

 9.5.6 Expenses 
 Each Party shall be
responsible for its own expenses including travel and accommodation costs incurred in connection with the JCC. 
 9.6 Joint Operational Teams 

The JSC and JCC shall have the right to establish joint operational teams (each a “JOT”), which shall include but will not be limited to a
joint research and development team (the “JRDT”}.  
  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -35- 

 9.7 Joint Research and Development Team 

Within [********] after the Effective Date, the Parties shall establish, through the JSC, a JRDT that shall be responsible to lead and oversee all operational
research and development activities under this Agreement, including developing and updating Collaboration Plans. The JRDT shall report progress and status of the Research and Development Programs to the JSC at the JSC meetings. 

9.7.1 Members 
 The JRDT shall be composed
of [********] Members. Roche and SQZ each shall be entitled to appoint [********] Members with appropriate seniority and functional expertise. Other functional experts from both Parties may join the JRDT as deemed necessary and appropriate during
the course of the collaboration. Each Party may replace any of its Members and appoint a person to fill the vacancy arising from each such replacement. A Party that replaces a Member shall notify the other Party at least [********] prior to the next
scheduled meeting of the JRDT. Both Parties shall use reasonable efforts to keep an appropriate level of continuity in representation. Both Parties may invite a reasonable number of additional experts and/or advisors to attend part or the whole JRDT
meeting with prior notification to the JRDT; provided that such participants shall have no voting authority at the JRDT, provided further that if such non-member is a Third Party, then such Third Party shall
be subject to the prior approval of the other Party and such Third Party shall be under obligations of confidentiality and non-use regarding Confidential Information and assignment of inventions that are
substantially the same as those undertaken by the Parties pursuant to this Agreement. Members may be represented at any meeting by another person designated by the absent Member. The JRDT shall have two
(2)co-chairpersons, one from each Party. The role of the co-chairpersons shall be to convene and preside at meetings of the JRDT. The
co-chairpersons shall prepare and circulate agendas and to ensure the preparation, distribution and approval of minutes. The co-chairpersons shall have no additional
powers or rights beyond those held by the other JRDT representatives. Each Party may replace its co-chairperson at any time upon written notice to the other Party. 

9.7.2 Meetings 
 The JRDT shall meet
monthly during the period of time during which there is a Collaboration Term in effect unless the Parties mutually agree in writing to a different frequency for such meetings. No later than [********] prior to any meeting of the JRDT, the
co -chairpersons of the JRDT shall prepare and circulate an agenda for such meeting; provided, however, that either Party may propose additional topics to be included on such agenda. Either Party may also call a special meeting of the JRDT (by
videoconference, teleconference or in person) by providing at least [********] prior written notice to the other Party if such Party reasonably believes that a significant matter must be addressed prior to the next scheduled meeting, in which event
such Party shall work with the co-chairpersons of the JRDT and the Alliance Directors of both Parties to provide the members of the JRDT no later than [********] prior to the special meeting with an agenda for
the meeting and materials reasonably adequate to enable an informed decision on the matters to be considered. It is expected that the JRDT shall meet by videoconference or by teleconference, but may also meet in person. In-person JRDT meetings will be held at locations selected by SQZ or Roche, on an alternating basis. Each Party will bear the expense of its respective JRDT members’ and non -JRDT members’
participation in JRDT meetings. Meetings of the JRDT shall be effective only if at least [********] JRDT Member of each Party (excluding the Alliance Director) is present or participating in such meeting. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -36- 

 9.7.3 Minutes 

JRDT meetings shall be summarized in reasonably detailed written minutes that reflect, without limitation, material decisions made and action items identified
at such meetings. During the course of the initial Collaboration Plan and before exercise of the Roche Antigen Option, SQZ will be responsible for preparing such meeting minutes. After Roche exercises the Roche Antigen Option, the co-chairpersons shall be responsible for designating a JRDT member for preparing such meeting minutes, to alternate between SQZ and Roche. Draft JRDT meeting minutes shall be circulated to all meeting participants
for comment and review within [********] after the relevant meeting. The participants of the JRDT shall have [********] to provide comments. The Party preparing the minutes shall incorporate timely received comments and distribute finalized minutes
to all Members of the JRDT within [********] days of the relevant meeting. The co-chairpersons shall recommend the final version of the minutes for approval at the next JRDT meeting before its distribution.

 9.7.4 Decisions 

9.7.4.1 Consensus; Good Faith 
 The Members of the
JRDT shall act in good faith to cooperate with one another and seek agreement with respect to issues to be decided by the JRDT. The Parties shall endeavor to make decisions by consensus. 

9.7.4.2 Failure to Reach Consensus 
 If the JRDT
is unable to decide a matter by consensus, then such matter shall escalate to the JSC for resolution. 
 9.7.5 Expenses 

Each Party shall be responsible for its own expenses including travel and accommodation costs incurred in connection with the JRDT. 

10. Manufacture and Supply 
 10.1 SQZ Platform and
Microfluidic Chips 
 SQZ shall be responsible for the clinical and commercial supply of the SQZ Platform and Microfluidic Chips for use in Products in
the Field. SQZ shall be responsible for ensuring that SQZ Platform and Microfluidic Chips are supplied with the quality and quantity required to manufacture Licensed Product and support trials and research worldwide according to agreed Collaboration
Plans. SQZ shall ensure that all such SQZ Platform and Microfluidic Chips are manufactured in compliance with all Applicable Law. Roche shall have the right to audit compliance by providing reasonable advance notice and no more frequently that
[********]. The Parties shall enter into separate manufacturing, supply and quality agreements containing terms and conditions customary for this type of manufacturing and supply arrangements, which terms and conditions shall include appropriate
audit rights and appropriate remedies for any failure by SQZ to timely deliver Roche’s clinical or commercial requirements for elements of the SQZ Platform and/or Microfluidic Chips for Licensed Products in the Field, which will include, for
defined types of such failures by SQZ, that Roche shall have the right to take over manufacture of the relevant elements of the SQZ Platform and/or Microfluidic Chips, as applicable. Notwithstanding the foregoing, the Parties agree that SQZ is
compensated by Roche for Roche’s right to use the SQZ Platform and Microfluidic Chips through the upfront payment, milestones and royalties set forth in this Agreement; the manufacturing, supply and quality agreements are not intended by the
Parties to be an additional profit center for SQZ with respect to the SQZ Platform and Microfluidic Chips, i.e. the intent is for the SQZ Platform and Microfluidic Chips to be supplied at FBMC plus the actual cost of shipping such SQZ Platform and
Microfluidic Chips. 
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -37- 

 10.2 Products before Exercise of the Roche Antigen Option or Roche TCL Option 

Prior to Exercise of the Roche Antigen Option or Roche TCL Option for a given Antigen Product or TCL Product, as applicable, other than a Roche Product, SQZ
shall be responsible for manufacturing of such Licensed Products throughout the Territory, including through the use of contract manufacturing organizations and suppliers (each a “CMO”) reasonably acceptable to Roche (e.g., Lonza).
Within [********] after initiation of the first Phase I Clinical Study for a Licensed Product, the Parties shall review the manufacturing requirements for pivotal studies for such Licensed Product. At that time, Roche shall have an opportunity and
SQZ shall support Roche to execute quality systems and, as required, safety, health and environmental (SHE) audits at the CMOs or SQZ facility, as applicable to enable Roche to ensure that such CMOs or SQZ facilities, as applicable, are capable of
manufacturing such Licensed Product for registration and commercialization purposes after exercise of the Roche Antigen Option or Roche TCL Option, as applicable. 

10.3 Licensed Products 
 For all Licensed Products other
than Shared Products and Roche Products, after exercise of the Roche Antigen Option or Roche TCL Option, as applicable, for such Licensed Product, Roche shall be the sole decision maker for manufacturing Licensed Product world-wide (but, for the
avoidance of doubt, not the SQZ Platform or Microfluidic Chips). If Roche decides to establish a different supply chain for such Licensed Product than that established by SQZ for such Licensed Product before exercise of the Roche Antigen Option or
Roche TCL Option, as applicable, then the Parties shall undertake a technology transfer, either to Roche or to one or more CMOs chosen by Roche. SQZ shall be responsible for reasonable costs of any such manufacturing process transfer. Roche shall be
the sole decision maker for the manufacturing of Licensed Products that are Roche Products (but, for the avoidance of doubt, not the SQZ Platform or Microfluidic Chips). 

For all Licensed Products that are Shared Products, after exercise of the Roche Antigen Option for such Licensed Product, Roche shall be the sole decision
maker for manufacturing Licensed Product (but, for the avoidance of doubt, not the SQZ Platform or Microfluidic Chips) in the Roche Territory, and SQZ shall be the sole decision maker for manufacturing Licensed Product in the SQZ Territory.
Notwithstanding Roche’s sole decision ability, the Parties shall discuss in good faith the selection of the manufacturer(s) (which may be SQZ and/or one or more Third Party contract manufacturers already engaged by SQZ) for manufacturing
Licensed Product in the Roche Territory. In connection with the selection of such manufacturer(s), on a Licensed Product -by-Licensed Product basis, the Parties shall
jointly evaluate options with the goal of optimizing for attributes such as quality, compliance, costs, reliability and cycle time. In connection with such evaluation, SQZ will identify to Roche its proposed manufacturing facility for the
manufacture of Licensed Products (which may be SQZ and/or one or more Third Party contract manufacturers already engaged by SQZ), and the Parties will meet to discuss SQZ’s proposed manufacturing facility and its capabilities to satisfy the
supply obligations. If the Parties are unable to agree on the selection of the manufacturer(s) for a given Licensed Product in the Roche Territory, then Roche shall have the right to make the final determination taking into consideration each such
manufacturer’s ability and history of delivering quality materials on time and on budget, capacity to meet manufacturing volume requirements, history and capabilities to meet quality and compliance standards, and price and costs for
manufacturing services (but without taking into account a desire to maximize utilization of a Roche 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -38- 

 manufacturing facility or other similar factors). If Roche decides to establish a different supply chain for
such Licensed Product than that established by SQZ for such Licensed Product before exercise of the applicable Roche Antigen Option, then the Parties shall undertake a technology transfer, either to Roche or to one or more CMOs chosen by Roche and
SQZ shall be responsible for reasonable costs of any such manufacturing process transfer. 
 11.Commercialization 

11.1 Responsibility 
 Roche, in accordance with the
applicable global commercialization plan, shall have sole responsibility for commercialization of all Licensed Products in the Roche Territory, and Roche shall book all sales in the Roche Territory. In addition, Roche, in accordance with the
applicable global commercialization plan, shall have sole responsibility for commercialization of Unshared Products, Roche Products and Licensed TCL Products in the United States and Roche shall book sales in the United States for such Licensed
Products. 
 For Shared Products, SQZ, in accordance with the applicable global commercialization plan, shall have sole responsibility for commercialization
and shall book all sales in the SQZ Territory. 
 Within [********] after the end of each Calendar Year, Roche shall furnish SQZ with a written report
describing Roche’s efforts (other than those efforts overseen by the JCC) during the immediately preceding Calendar Year to commercialize Licensed Products. 

11.2 US Promotion Participation and Option 
 On an
Unshared Product-by-Unshared Product basis or Licensed TCL Products basis (provided that neither the First TCL Opt Out nor the Second TCL Opt Out has been exercised), at
SQZ’s option, SQZ may elect to participate in the promotional activities for each such Unshared Product or TCL Products, as applicable, in the US (“Co-Promotion Option”). The
Co -Promotion Option may be exercised by SQZ for a given eligible Product no later than [********] after data reads out for the first registration Clinical Study for which a label is sought, unless there has been a Change of Control of SQZ.
Provided that SQZ has established the relevant infrastructure and personnel, the co-promotion period shall begin on the date that the Parties execute the Co-Promotion
Agreement, described further below. SQZ shall have the right to deploy sales representatives in the US for a minimum of [********] and up to [********] of the FTEs needed to support such activities for such Unshared Product or Licensed TCL Products.
SQZ shall select the percentage of sales representatives at the time SQZ exercises its co-promotion right and shall retain that percentage for so long as SQZ continues to
co-promote the Unshared Product or Licensed TCL Products. 
 The Parties shall work together to ensure that they
maintain efficiency in areas of commercialization activities. The Parties shall participate in joint trainings led by Roche. Roche shall be responsible for developing a launch plan as well as the annual sales plan and sales force sizing for the US.

 Roche shall reimburse SQZ for the costs of SQZ’s sales forces related to SQZ’s promotion of such Unshared Product or Licensed TCL Products.
Such costs will be calculated on a fully burdened FTE-basis. Compensation for FTE will be at then current market rates, but the SQZ compensation shall not be more than Roche pays its own sales force similarly
situated. With regards of Licensed TCL Products, the costs of SQZ’s sales forces shall be considered commercialization costs for the Profit & Loss share calculation. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -39- 

 SQZ shall have the right to terminate SQZ’s participation in promotion upon [********] notice to Roche.

 The Parties shall negotiate in good faith the terms of the definitive co-promotion agreement (“Co-Promotion Agreement”) within [********] after Roche’s receipt of SQZ’s notice that it is electing to participate in US promotion. 

12. Payments 
 12.1 Initiation Payment 

Within [********] after the Effective Date and receipt of an invoice from SQZ, Roche shall pay to SQZ forty-five million US dollars (US$45,000,000) in
partial consideration for the rights granted by SQZ. Such payment shall be non-creditable against any other payments due hereunder and non-refundable. 

12.2 Research Costs 
 [********]. 

12.3 Development Costs 
 12.3.1
Reconciliation of Development Costs 
 Commencing the first Calendar Quarter immediately following a Party incurring Development Costs for Products under
this Agreement for which Development Costs are shared and continuing thereafter so long as a Party incurs Development Costs under this Agreement for which Development Costs are shared, within [********] after the end of each Calendar Quarter during
which either Party incurs such Development Costs, each Party shall submit to a finance designee of the other Party a report setting forth a good faith estimate of the Development Costs it incurred in such Calendar Quarter, as detailed in the
Collaboration Plan. Within [********] following the end of such Calendar Quarter, each Party shall update such report to reflect the final amount of Development Costs incurred by such Party; provided that if there are any Development Costs incurred
in such Calendar Quarter that a Party is unable to timely include in such financial report, then such amount shall be included and reconciled in the financial report in a future Calendar Quarter. Each such report shall specify in reasonable detail
costs incurred and shall include reasonably detailed supporting information. Within [********] after receipt of such reports, the finance designees from both Parties shall confer and agree in writing on whether a reconciliation payment is due from
one Party to the other Party, and if so, the amount of such reconciliation payment, so that the Parties share Development Costs in accordance with this Section 12.3. The Party required to pay such reconciliation payment shall make such payment
to the other Party within [********] after the end of each Calendar Quarter; provided, however, that in the event of any disagreement with respect to the calculation of such reconciliation payment, any undisputed portion of such reconciliation
payment shall be paid in accordance with the foregoing timetable and the remaining, disputed 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -40- 

 
portion shall be paid within [********] after the date on which the Parties, using good faith efforts, resolve the dispute. Notwithstanding the foregoing, as part of each Collaboration Plan there
shall be a budget for the Development Costs for such Collaboration Plan, such costs shall be commercially reasonable and within industry standards. If the actual Development Costs of the Party to whom the activities are allocated in a given
Collaboration Plan exceed the Development Costs as per the most recent JSC approved budget for such development activities by more than [********] such Party shall be solely responsible for all costs incurred beyond [********] of the budget for such
allocated development activities, and such cost overrun for such activities shall not be shared pursuant to the provisions of this Section 12.3. 

12.3.2 Pre-Option Exercise 

With respect to development activities under a given Collaboration Plan incurred prior to the exercise of the Roche Antigen Option or Roche TCL Option for such
Collaboration Plan, or, with respect to a Roche Product, prior to initiation of a Phase II Study for such Roche Product, the Development Costs (including but not limited to GLP Toxicology, if applicable, or selection of the final Product composition
that will be used to complete the final preclinical studies for the IND submission, IND, Phase I Study/Clinical PoC study) incurred in conducting development activities for each such Antigen Product and TCL Product in accordance with the applicable
Collaboration Plan shall be shared as follows: 
  

					
	Collaboration Product:	  	SQZ/Roche	  	[********]
	 SQZ Product:
	  	SQZ/Roche	  	[********]
	 Roche Product:
	  	SQZ/Roche	  	[********]
	 TCL Product:
	  	SQZ/Roche	  	[********]

 [********]. For the avoidance of doubt, FBMC for Phase I Studies and Clinical PoC studies shall be considered Development
Costs and subject to the applicable sharing of such Development Costs. 
 12.3.3 Post-Option Exercise/After Initiation of Phase II Study

 12.3.3.1 For Licensed Antigen Products 

With respect to development activities under a given Collaboration Plan incurred following the exercise of the Roche Antigen Option for such Collaboration
Product, or, with respect to a Roche Product, beginning with initiation of a Phase II Study for such Roche Product, the Development Costs incurred in conducting development activities for each such Licensed Product in accordance with the applicable
Collaboration Plan shall be shared as follows: 
  

					
	 Unshared Product: 
	  	SQZ/Roche	  	[********]
	 Shared Product: 
	  	SQZ/Roche	  	[********]
	 Roche Product: 
	  	SQZ/Roche	  	[********]

 12.3.3.2 For TCL Products 

With respect to development activities under a given Collaboration Plan incurred following the exercise of the Roche TCL Option, the Development Costs incurred
in conducting development activities for TCL Products in accordance with the applicable Collaboration Plan shall be shared as follows: 
  

					
	 TCL Products: 
	  	SQZ/Roche	  	[********]

  
 [***] Certain information in this document has been
excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -41- 

 Notwithstanding the foregoing provisions of this Section 12.3.3.2, (a) within [********] following
Roche’s exercise of the Roche TCL Option, SQZ may exercise a right to opt out of sharing the Profit & Loss with regards to all TCL Products in the US (“First TCL Opt Out”) and (b)if SQZ has not exercised its First TCL
Opt Out, then within [********] following first filing of an NOA within the US for the first TCL Product, SQZ may exercise a right to opt out of sharing the Profit & Loss with regards to all TCL Products in the US (“Second TCL Opt
Out”). In the event that SQZ exercises either the First TCL Opt Out or the Second TCL Opt Out, then with respect to development activities under a given Collaboration Plan for all TCL Products incurred from and after the exercise of either
the First TCL Opt Out or the Second TCL Opt Out, the Development Costs incurred in conducting development activities for TCL Products in accordance with the applicable Collaboration Plan shall be shared as follows: 

 

					
	 If First TCL Opt Out is Exercised:
	  	SQZ/Roche	  	[********]
	 If Second TCL Opt Out is Exercised:
	  	SQZ/Roche	  	[********]

 12.4 Pre- and Early-Clinical Development Event Payments 

12.4.1 Payment upon [********] 
 On an
Antigen Product-by-Antigen Product basis, within [********] days after [********] Roche shall pay to SQZ the following amounts: 

 

					
	 Product Type
	  	 Normal Option

(US$ in millions)
	  	 Delayed Option

(US$ in millions)

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

 Roche shall have the right to delay payment obligations with respect to SQZ Products on a SQZ
Product-by-SQZ Product basis by giving written notice no later than [********] after initiation of the corresponding Collaboration Plan (each a “Delayed
Option”).  
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -42- 

 12.4.2 Pre-Clinical Development Event Payments

 12.4.2.1 For Antigen Products 
 On an
Antigen Product-by-Antigen Product basis, within [********] after [********] Roche shall pay to SQZ the following amounts for each such Antigen Product [********]: 

 

					
	 Product Type
	  	 Normal Option

(US$ in millions)
	  	 Delayed Option

(US$ in millions)

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

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

 12.4.2.2 For TCL Products 

Within [********] after [********] Roche shall pay to SQZ a one-time payment of [********] 

12.4.3 [********] Payments 

12.4.3.1 For Antigen Products 
 On an Antigen Product-by-Antigen Product basis, within [********] after the [********] for each such Antigen Product [********] Roche shall pay to SQZ the following amounts: 

 

					
	 Product Type
	  	 Normal Option

(US$ in millions)
	  	 If Roche Previously Exercised its Delayed Option
for
such Antigen Product
 (US$ in millions)

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

 12.4.3.2 For TCL Products 

Within [********] after the Initiation of the [********] Roche shall pay to SQZ [********]. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -43- 

 12.5 Option Exercise Fees 

12.5.1 For Roche Antigen Option 
 On a
Licensed Antigen Product-by-Licensed Antigen Product basis, within [********] after Roche has exercised the Roche Antigen Option with regard to each such Licensed
Antigen Product, Roche shall pay to SQZ the following amounts: 
  

					
	 Licensed Antigen Product 
	  	 Normal Option Exercise Fee

(US$ in millions)
	  	 If Roche Previously Exercised its Delayed Option
for
such Antigen Product
 (US$ in millions)

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

 12.5.2 For Roche TCL Option 

Within [********] after Roche has exercised the Roche TCL Option, Roche shall pay to SQZ [********]. Such amount shall only become payable to SQZ once, even
if multiple TCL Products are developed and commercialized. 
 12.6 [********] Payments for Roche Products 

On a Roche Product-by-Roche Product basis, Roche shall pay SQZ [********] for
each such Roche Product [********]. 
 12.7 Development and Commercialization Event Payments 

Roche shall pay SQZ in relation to the achievements of development and commercialization milestone events with respect to Licensed Products. The development
and commercialization milestone payments under this Section 12.7 shall be paid as follows: 
 On a Licensed Antigen Product-by-Licensed Antigen Product basis, Roche shall pay SQZ the following milestone event payments for the first achievement of each of the corresponding milestone events by each such Licensed Antigen
Product: 
  
 [***] Certain information in this document has been excluded pursuant to
Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -44- 

							
	 Development or Commercialization Event
	  	 Unshared Product

(US$ in millions)
	  	 Roche Product

(US$ in millions)
	  	 Shared Product

(US$ in millions)

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

 Roche shall pay SQZ the following one-time milestone event payments for the first
achievement of each of the corresponding milestone events by the first Licensed TCL Product to achieve such event: 
  

					
	 Development or
Commercialization Event

	  	 First TCL Product if SQZ has Not
Exercised the First TCL Opt
Out
(regardless of whether the Second TCL
Opt Out hasbeen exercised)
 (US$ in millions)
	  	 First TCL Product if
SQZ has Exercised First TCL Opt
Out
 (US$ in millions)

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

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -45- 

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

  

	*	 NOA filing in the EU means either (a) the filing of an NOA in a country of the EU or (b) a filing of
an NOA through a centralized procedure in the EU. Regulatory Approval in the EU means either (a)receipt of Regulatory Approval from a country of the EU or (b) receipt of Regulatory Approval from the EMA through a centralized procedure.

 Upon reaching development or commercialization events, Roche shall timely notify SQZ and the applicable development or
commercialization event payments shall be paid by Roche to SQZ within [********] from occurrence of the applicable event and receipt of an invoice from SQZ. 

12.8 Later Achieved Milestones 
 If, for a given Licensed
Antigen Product or Licensed TCL Product, any milestone intended to be triggered by [********] pursuant to Sections 12.4.3, 12.6 and 12.7 is achieved before the achievement of any milestones set forth before such achieved milestone, except for
Section 12.5, for the same Licensed Antigen Product or Licensed TCL Product, then upon achievement of such milestone, Roche shall pay to SQZ both the amount due for the achieved milestone in addition to the amount payable for the achievement of
milestone(s) set forth before such achieved milestone in such table that have not yet been paid. 
 For example: 

 

	 	(a)	 [********] 

  

	 	(b)	 [********]. 

12.9 Sales Based Events 
 12.9.1 For
Licensed Antigen Products 
 For each Licensed Product, Roche shall pay SQZ the following one-time milestone
event payments for the first achievement of each of the corresponding milestone events by each such Licensed Product to achieve such event: 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -46- 

							
	 Sales Event
	  	 Unshared Product

(US Dollars in millions)
	  	 Roche Product

(US Dollars in millions)
	  	 Shared Product

(US Dollars in millions)

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

 Within [********] after the end of the Calendar Year in which the Net Sales of the Licensed Antigen Product in the Territory
first reach the respective Net Sales threshold, irrespective of whether or not the previous sales based event payment was triggered by the same or by a different Licensed Antigen Product, and shall be
non-refundable. 
 12.9.2 For Licensed TCL Products 

For Licensed TCL Products (for clarity, all Licensed TCL Products are collectively treated as a single product with regard to event payments and royalties),
Roche shall pay SQZ the following one-time milestone event payments for the first achievement of each of the corresponding milestone events: 

 

					
	 Sales Event

[********]
	  	 Licensed TCL Products*

(US Dollars in millions)
	  	 Licensed TCL Products,

First TCL Opt Out applies
 (US Dollars in
millions)

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

 Each of the sales based event payments shall be paid no more than once during the Agreement Term, within [********] after the
end of the Calendar Year in which the Net Sales of the Licensed TCL Product in the Territory first reach the respective Net Sales threshold, irrespective of whether or not the previous sales based event payment was triggered by the same or by a
different Licensed TCL Product, and shall be non-refundable. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -47- 

 12.10 Royalty Payments 

12.10.1 Royalty Term 
 Royalties shall be
payable by Roche or SQZ, as applicable on Net Sales of Licensed Products, on a Licensed Product-by-Licensed Product and country-by-country basis, until the expiry of the Royalty Term for such Licensed Product in such country. Thereafter, the licenses granted to Roche or SQZ, as applicable, shall be fully paid up, irrevocable
and royalty-free in such country for such Licensed Product. 
 12.10.2 Royalty Rates 

The following royalty rates shall apply to the respective tiers of aggregate Calendar Year Net Sales of Licensed Products in the Territory, on an incremental
basis, as follows: 
 12.10.2.1 Shared Products 

Roche shall, on a Shared Product-by-Shared Product basis pay SQZ royalties on
Calendar Year Net Sales in the Roche Territory of Shared Products as follows: 
  

			
	 Portion of Calendar Year Net Sales in Roche Territory
	  	 Rate

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

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

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

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

 SQZ shall, on a Shared Product-by-Shared
Product basis pay Roche royalties on Calendar Year Net Sales in the SQZ Territory of Shared Products as follows: 
  

			
	 Portion of Calendar Year Net Sales in SQZ Territory
	  	 Rate

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

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

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

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

 For example, if Net Sales of Shared Products in the Roche Territory, for a given Calendar Year, are [********] then royalties
owed to SQZ on such Net Sales of Shared Products for that Calendar Year shall equal [********] calculated as follows: 
 [********] 

12.10.2.2 Roche Products, Unshared Products 

Roche shall, on a Roche Product-by-Roche Product basis and on an Unshared Product-by -Unshared Product basis, pay SQZ royalties on Calendar Year world-wide Net Sales of Roche Products or Unshared Products, as the case may be, as follows: 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -48- 

					
	 Portion of Calendar Year Net Sales
	  	 Roche Product Rate
	  	 Unshared Product Rate

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

 For example, if Net Sales of Unshared Products in the Territory, for a given Calendar Year, are [********] then royalties owed
to SQZ on such Net Sales of Unshared Products for that Calendar Year shall equal [********] calculated as follows: 
 [********] 

12.10.2.3 TCL Products 
 Roche shall pay SQZ
royalties on Calendar Year Net Sales of TCL Products as follows. Rate 1 applies to Net Sales in the Roche Territory when SQZ has not exercised either the First TCL Opt Out or the Second TCL Opt Out, Rate 2 applies to worldwide Net Sales if SQZ has
exercised the First TCL Opt Out, and Rate 3 applies to US Net Sales if SQZ has exercised the Second TCL Opt Out (Rate 1 still applies in the Roche Territory): 
  

							
	 Portion of Calendar Year Net Sales
	  	 Rate 1
	  	 Rate 2
	  	 Rate 3

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

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

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

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

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

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

 Example 1: if Net Sales of TCL Products in the Territory, for a given Calendar Year, are [********], then royalties owed to
SQZ on such Net Sales of such TCL Products for that Calendar Year in the case SQZ has exercised the First TCL Opt Out (Rate 2) shall equal [********] calculated as follows: 

[********] 
 Example 2: If Net Sales of TCL Products in each, the
Roche Territory and the SQZ Territory, for a given Calendar Year, are [********] then royalties owed to SQZ on such Net Sales of such TCL Products for that Calendar Year in the case SQZ has exercised the Second TCL Opt Out (Rate 1 in the Roche
Territory, Rate 3 in the SQZ Territory) shall equal one [********] calculated as follows: 
 [********] 

[********] 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -49- 

 12.10.3 Combination Product 

If a Party intends to sell a Combination Product, then the Parties shall meet approximately [********] prior to the anticipated First Commercial Sale of such
Combination Product in the Territory to negotiate in good faith and agree on how to calculate the Net Sales to reflect the relative commercial value contributed by the components of the Combination Product (the “Relative Commercial
Value”). If, after such good faith negotiations not to exceed [********], the Parties cannot agree to the Relative Commercial Value, then the dispute shall be initially referred to the executive officers of the Parties in accordance with
Section 23.2. Should the Parties fail to agree within [********] of such referral, then the Relative Commercial Value shall be determined by an Expert Committee under the procedures of Section 12.10.4.4. 

12.10.4 Royalty Reductions 
 For the
purpose of calculating royalties of a Licensed Product, Calendar Year Net Sales and the royalty rates shall be subject to the following adjustments, as applicable: 

12.10.4.1 No Valid Claim; Generic Competition 

For a given Licensed Product, if in a given country within the Territory there is: 
  

	(a)	 no Valid Claim of a SQZ Patent Right or Joint Patent Right (and in the case of a Shared Product, a SQZ Patent
Right, Joint Patent Right or Patent Right of Roche or its Affiliates) that Covers such Product in such country; or 

  

	(b)	 after sale of a Generic Product there has been a decline of the quarterly Net Sales of the applicable Licensed
Product in such country greater than [********] of the average level of the quarterly Net Sales of such Licensed Product achieved in the [********] consecutive Calendar Quarters immediately prior to such entry; 

then the royalty payments due to SQZ or Roche, as applicable, for such Licensed Product in such country shall be reduced by [********] for the remainder of
the Royalty Term for such Licensed Product in such country. 
 12.10.4.2 Third Party Payments 

The selling Party shall be responsible for and pay or have paid any consideration owed to any Third Party in relation to Third Party intellectual property
rights useful or necessary to commercialize Products in a country in its Territory. SQZ shall be responsible for and pay or have paid any consideration owed to any Third Party in relation to Third Party intellectual property rights necessary to use
the SQZ Platform or Microfluidic Chips. If, despite SQZ’s obligation in the previous sentence, any payments are required to be made by Roche to a Third Party to use the SQZ Platform or Microfluidic Chips, then Roche shall have the right to
deduct [********] of such consideration actually paid to such Third Party from payments otherwise due and payable under this Agreement. The selling Party shall have the right to deduct a maximum of [********] of such consideration actually paid to a
Third Party from payments otherwise due and payable under this Agreement. Any such deduction shall be permitted on a Licensed Product-by-Licensed Product and country-by-country basis. 
 12.10.4.3 Apportionment of Compulsory
Sublicensee Consideration 
 Compulsory Sublicense Compensation received by the selling Party from a Compulsory Sublicensee shall be shared with the non-selling Party using a royalty rate (the “Compulsory Share Percentage”) calculated on a Product by Product basis for the respective Calendar Year as follows: 

[********] 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
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 At the end of the Calendar Year, Roche shall pay to SQZ the Compulsory Sublicense Compensation under a given
country or region of the Territory multiplied by the Compulsory Share Percentage. [********]. 
 12.10.4.4 Expert Committee 

If the Parties are unable to agree on the Relative Commercial Value under Section 12.10.3, then Roche will select one (1) individual who would
qualify as an Expert, SQZ will select (1) individual who would qualify as an Expert, and those two (2) individuals shall select one (1) individual who would qualify as an Expert and who shall be chairman of a committee of the three
(3) Experts (the “Expert Committee”), each with a single deciding vote. Each Party will make a proposal to the Expert Committee and the Expert Committee will select either the Roche proposal or the SQZ proposal, whichever the
Expert Committee deems more commercially reasonable. The Expert Committee will promptly hold a meeting to review the issue under review, at which it will consider memoranda submitted by each Party at least [********] before the meeting, as well as
reasonable presentations that each Party may present at the meeting. The determination of the Expert Committee as to the issue under review will be binding on both Parties. The Parties will share equally in the costs of the Expert Committee. Unless
otherwise agreed to by the Parties, the Expert Committee may not decide on issues outside the scope mandated under the terms of this Agreement. 
 12.11
Royalty Conversion Option 
 SQZ hereby grants to Roche an option to buy-out of the royalty payments set forth in
Section 12.10, on terms to be negotiated in good faith by the Parties. 
 12.12 US Profit Share for Licensed TCL Products 

For TCL Products provided that neither the First TCL Opt Out nor the Second TCL Opt Out apply, in the SQZ Territory the Parties shall share Profit &
Loss [********] Reporting, reconciliation of Profit & Loss and payment thereof of by Roche to SQZ shall follow similar principles as for the payment of royalties and shall be discussed in good faith in an amendment to the Agreement upon
exercise of the Roche TCL Option. [********] to receive [********] If the Parties are unable to reach agreement on the amounts, then the Parties shall use the Expert Committee proceedings analogous to those as outlined in Section 12.10.4.4 to
determine fair market value of the Licensed TCL Products, royalties payable, and the term for such payments. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -51- 

 12.13 Disclosure of Payments 

Each Party may be obligated to disclose this financial arrangement, including all fees, payments and transfers of value, as may be advisable or required under
Applicable Law, including the US Sunshine Act. Each Party shall make such disclosures in accordance with Section 18.5. 
 13. Accounting and
Reporting 
 13.1 Timing of Payments 
 The selling
Party shall calculate royalties on Net Sales [********] (each being the last day of an “Accounting Period”) and shall pay royalties on Net Sales within [********] after the end of each Accounting Period in which such Net Sales
occur. 
 13.2 Late Payment 
 Any payment under this
Agreement that is not paid on or before the date such payment is due shall bear interest, to the extent permitted by Applicable Law, at [********] above the average one-month Euro Interbank Offered Rate
(EURIBOR), as reported by Reuters from time to time, calculated on the number of days such payment is overdue. 
 13.3 Method of Payment 

Royalties on Net Sales and all other amounts payable by the selling Party hereunder shall be paid in US dollars (the “Payment Currency”) to
account(s) designated by the non-selling Party. 
 13.4 Currency Conversion 

When calculating the Net Sales of any Licensed Product or Development Costs or Commercialization Costs that are shared that occur in currencies other than the
Payment Currency, (a) Roche shall convert the amount of such sales or costs into Swiss Francs and then into the Payment Currency using Roche’s then-current internal foreign currency translation method actually used on a consistent basis in
preparing its audited financial statements (at the Effective Date, YTD average rate as reported by Reuters) and (b) SQZ shall convert the amount of such costs into the Payment Currency using SQZ’s then-current internal foreign currency
translation method actually used on a consistent basis in preparing its audited financial statements. 
 13.5 Royalty Reporting 

With each royalty payment Roche shall provide to SQZ in writing for the relevant Calendar Quarter, on a Licensed Product-by-Licensed Product basis, the following information: 
  

	(a)	 Sales in Swiss Francs; 

 

	(b)	 Net Sales in Swiss Francs; 

 

	(c)	 exchange rate used for the conversion of Net Sales or costs into Swiss Francs and from Swiss Francs to the
Payment Currency pursuant to Section 13.4; 

  

	(d)	 Net Sales in the Payment Currency; 

 

	(e)	 On a country-by-country basis,
the number of Licensed Products sold by Roche, its Affiliates and Sublicensees and the average gross price in the Payment Currency charged by Roche, its Affiliates and Sublicensees (the average gross price being the Sales divided by the number of
Licensed Products sold by Roche, its Affiliates and Sublicensees in such country); 

  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -52- 

	(f)	 royalty rate pursuant to Section 12.10.2; 

 

	(g)	 adjustments made pursuant to Sections 12.10.4.1, 12.10.4.2, and 12.10.4.3; and 

 

	(h)	 total royalty payable in the Payment Currency after adjustments made pursuant to Sections 12.10.4.1, 12.10.4.2,
and 12.10.4.3. 

 With each royalty payment SQZ shall provide to Roche in writing for the relevant Calendar Quarter, on a Licensed Product-by-Licensed Product basis, the following information: 
  

	(a)	 Sales in the Payment Currency; 

 

	(b)	 Net Sales in the Payment Currency; 

 

	(c)	 royalty rate pursuant to Section 12.10.2; 

 

	(d)	 adjustments made pursuant to Sections 12.10.4.1, 12.10.4.2, and 12.10.4.3; and 

 

	(e)	 total royalty payable in the Payment Currency after adjustments made pursuant to Sections 12.10.4.1, 12.10.4.2,
and 12.10.4.3. 

 14.Taxes 
 The Party
receiving payment shall pay all sales, turnover, income, revenue, value added, and other taxes levied on account of any payments accruing or made to such Party under this Agreement. 

If provision is made in Applicable Law of any country for withholding of taxes of any type, levies or other charges with respect to any royalty or other
amounts payable under this Agreement to the Party receiving payment, then the paying Party shall promptly pay such tax, levy or charge for and on behalf of the Party receiving payment to the proper governmental authority, and shall promptly furnish
the Party receiving payment with receipt of payment. The paying Party shall be entitled to deduct any such tax, levy or charge actually paid from royalty or other payment due the Party receiving payment or be promptly reimbursed by the Party
receiving payment if no further payments are due to the Party receiving payment. Each Party agrees to reasonably assist the other Party in claiming exemption from such deductions or withholdings under double taxation or similar agreement or treaty
from time to time in force and in minimizing the amount required to be so withheld or deducted. 
 15. Auditing 

15.1 Right to Audit 
 Each Party shall keep, and shall
require its Affiliates and Sublicensees to keep, full, true and accurate books of account containing all particulars that may be necessary for the purpose of calculating all royalties, milestones and other amounts payable under this Agreement. Such
books of accounts shall be kept at their principal place of business. At the expense of the auditing Party, the auditing Party shall have the right to engage an internationally recognized independent public accountant reasonably acceptable to the
other Party to perform, on behalf of the auditing Party, an audit of such books and records of the other Party and its Affiliates that are deemed necessary by the independent public accountant to report on Net Sales of Product and Development Costs
that are shared and for the Profit & Loss for the period or periods requested by the auditing Party and the correctness of any financial report or payments made under this Agreement. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -53- 

 Upon timely request and at least [********] prior written notice from the auditing Party, such audit shall
be conducted in the countries specifically requested by the auditing party, during regular business hours in such a manner as to not unnecessarily interfere with the other Party ‘s normal business activities. Such audit shall be limited to
results in the [********] prior to audit notification. Accordingly, if the auditing Party does not request an audit of a given Calendar Year for a given country on or before [********] the end of such Calendar Year, then the auditing Party will be
deemed to have accepted the royalty payments and reports and other calculations for such country in such Calendar Year. 
 Such audit shall not be performed
more frequently than once per Calendar Year nor more frequently than once with respect to records covering any specific period of time. 
 All information,
data documents and abstracts herein referred to shall be used only for the purpose of verifying royalty statements and amounts due hereunder, shall be treated as the selling Party’s Confidential Information subject to the obligations of this
Agreement and need be retained neither more than [********] after completion of an audit hereof, if an audit has been requested; nor more than [********] from the end of the Calendar Year to which each shall pertain; nor more than [********] after
the date of termination of this Agreement. 
 15.2 Audit Reports 

The auditors shall only state factual findings in the audit reports and shall not interpret the agreement. The auditors shall share all draft audit reports
with the audited Party before the draft report is shared with the auditing Party and before the final document is issued. The final audit report shall be shared with the audited Party at the same time it is shared with the auditing Party. 

15.3 Over-or Underpayment 

If the audit reveals that the audited party has overpaid the auditing party, then the auditing Party shall reimburse the audited Party for the amount of the
overpayment within [********]. If the audit reveals that the audited party has underpaid the auditing party, then the audited Party shall reimburse the auditing Party for the amount of the underpayment (along with any interest due thereon pursuant
to Section 13.2) (a) with the next royalty payment if the underpayment relates to royalties and further royalty payments are owed by the audited party or (b) within [********] after the receipt of such report if the underpayment relates to
Development Costs or Profit & Loss or no further royalty payments are owed by the audited party. The audited Party shall pay for the audit costs if the underpayment exceeds [********] of the aggregate amount owed to the auditing Party.
Section 13.2 shall apply to this Section 15.3. 
 16. Intellectual Property 

16.1 Ownership of Inventions 
 Subject to the third
paragraph of this Section 16.1, SQZ shall own all SQZ Inventions and shall Handle and pay at its discretion for the Patent Rights covering such SQZ Inventions, Roche shall own all Roche Inventions and shall Handle and pay at its discretion for
the Patent Rights covering such Roche Inventions, and SQZ and Roche shall jointly own all Joint Inventions and Roche shall Handle the Patent Rights covering such Joint Inventions and the Parties shall share 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -54- 

 
equally any external expenses associated therewith. SQZ and Roche each shall require all of its employees to assign all Inventions made by them to Roche and SQZ, as the case may be. The
determination of inventorship for Inventions shall be in accordance with US inventorship laws as if such Inventions were made in the US. 
 Subject to the
licenses granted under this Agreement, SQZ and Roche will each have an equal undivided share in Joint Inventions and Joint Patent Rights, without obligation to account to the other for exploitation thereof, or to seek consent of the other Party for
the grant of any license thereunder (except for a Party’s rights and obligations as a licensee thereunder with respect to Products, which rights and obligations are governed by this Agreement). To the extent necessary to give effect to the
foregoing, each Party grants to the other party a non-exclusive, royalty-free (except as provided in this Agreement), sublicensable (through multiple tiers) license under the jointly owned Joint Patent Rights
in all fields in the Territory. 
 Notwithstanding anything to the contrary in this Agreement (including the first and second paragraphs of this
Section 16.1, 
 (a) SQZ shall own Patents, Know-How and Inventions generated, developed, discovered,
conceived, invented, first reduced to practice, or otherwise made in the course of carrying out activities under this Agreement regardless of inventorship to the extent (i) solely related to the SQZ Platform and/or Microfluidic Chips and/or
(ii) dominated by the SQZ Base Patent Rights (each, a “SQZ Platform Invention”); 
 (b) for research under a specific Collaboration
Plan prior to exercise of the Roche Antigen Option or Roche TCL Option, as applicable, or otherwise made in the course of carrying out activities under this Agreement, all Patent Rights, Know-How and
Inventions generated, developed, discovered, conceived, invented or first reduced to practice, regardless of inventorship 
 (i) relating
solely to a Collaboration Product, SQZ Product or a TCL Product shall be owned solely by SQZ, and 
 (ii) relating solely to a Roche Product
shall be owned solely by Roche (in each case of (i) and (ii), a “Pre-Option Product Specific Invention”); 

(c) after exercise of a Roche Antigen Option or Roche TCL Option, Patent Rights, Know-How and Inventions that are
generated, developed, discovered, conceived, invented, first reduced to practice, or otherwise made in the course of carrying out the development or commercialization of the applicable Licensed Product subject to such option regardless of
inventorship and that are 
 (1) solely related to an Unshared Product, Roche Product or Licensed TCL Product shall be owned solely by
Roche, and 
 (2) solely related to a Shared Product shall be owned solely by Roche in the Roche Territory (collectively with the inventions
in clause (1), each, a “Post-Option Roche Product Specific Invention”) and shall be owned solely by SQZ in the SQZ Territory (each, a “Post-Option SQZ Product Specific Invention”); and 

(d) Patent Rights, Know-How and Inventions that are generated, developed, discovered, conceived, invented, first
reduced to practice, or otherwise made in the course of carrying out 
  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -55- 

 
development or commercialization activities under this Agreement that are not SQZ Platform Inventions, Pre-Option Product Specific Inventions, Post-Option
SQZ Product Specific Inventions, or Post-Option Roche Product Specific Inventions shall be owned by the Party or jointly by the Parties that employ or otherwise contract with persons who invent in the case of inventions, author in the case of
copyright, or generate in the case of Know-How, such Patent Rights, Know-How and Inventions (“Other Collaboration Inventions”). Any jointly owned Other
Collaboration Inventions that are solely related to antigen presenting cell therapies and/or using tumor cell lysate for cell therapies shall be deemed “Other Cell Therapy Collaboration Joint Inventions”. 

In addition, in the event that Roche exercises the Roche Antigen Option or Roche TCL Option for a Licensed Product, to the extent there are any Pre-Option Product Specific Inventions for such Licensed Product that is an Unshared Product, Licensed TCL Product or Shared Product in the Roche Territory, SQZ shall assign any such
Pre-Option Product Specific Inventions for such Licensed Product to Roche, subject to coordination and timing of assignment to take into account any patentability and/or prosecution concerns, and after such
assignment to Roche, such Invention will be considered a Post-Option Roche Product Specific Invention. 
 The Party owning such Invention, in its sole
discretion but subject to Section 16.4 or Section 16.5, as applicable, may file for patent protection on its Invention as set forth above in its own name; provided that the Parties shall discuss and coordinate patent filings and
prosecution and maintenance to the extent such prosecution and maintenance of one Party’s Inventions impacts the patent filings of the other Party or would otherwise be detrimental to the patent protection for Inventions of the other Party.

 Each Party shall promptly sign and deliver any and all documents or information legally required for the transferring of ownership rights and/or securing
of such Invention in any country as determined by the owning Party or to effectuate such joint ownership, and shall assign its right, title and interest in such Invention, Know-How and/or Patent Right to
effectuate the foregoing ownership. The Party owning an Invention solely owned by one Party pursuant to this paragraph shall grant to the other Party and its Affiliates a non-exclusive, worldwide, license
under such Invention and Patent Rights and Know-How therein for the purpose of exercising its rights and obligations under this Agreement. 

Except as specifically set forth herein, this Agreement shall not be construed as (i) giving any of the Parties any license, right, title, interest in or
ownership to the Confidential Information of the other Party; (ii) granting any license or right under any intellectual property rights; or (iii) representing any commitment by either Party to enter into any additional agreement, by
implication or otherwise. 
 16.2 German Statute on Employee’s Inventions 

In accordance with the German Statute on Employees’ Inventions, each Party agrees to claim the unlimited use of any Invention conceived, reduced to
practice, developed, made or created in the performance of, or as a result of, any Research and Development Program by employees of any German Affiliates or any other persons acting on behalf of such German Affiliates. For the avoidance of doubt,
each Party is responsible for fulfilling the obligations towards their employees under the German Statute of Employee’s Inventions. 
 16.3
Trademarks and Labelling 
 Roche shall own all trademarks used on or in connection with (a) Unshared Product, Roche Products and TCL Products for
use in the Field in the Territory and (b) Shared Products in the 
  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 Field in the Roche Territory (collectively, “Roche Product Trademarks”). For clarity, the
name “Roche” and any derivation thereof is not a Roche Product Trademark. SQZ shall own all trademarks used on or in connection with Shared Products in the Field in the SQZ Territory (“SQZ Product Trademarks” and,
collectively with the Roche Product Trademarks, the “Product Trademarks”). The Parties shall consult with one another with respect to the selection of Product Trademarks and consider in good faith the comments from the other Party
with respect to the selection of such Party’s Product Trademark, including to consider whether a global trademark is desirable for a Shared Product. Roche shall, at its sole cost, be responsible for procurement, maintenance, enforcement and
defense of all Roche Product Trademarks. SQZ shall, at its sole cost, be responsible for procurement, maintenance, enforcement and defense of all SQZ Product Trademarks. SQZ shall own all trademarks used on or in connection with the SQZ Platform
and/or the Microfluidic Chips (“SQZ Trademarks”). Upon request by SQZ, Roche shall place the SQZ Trademarks on the elements of the SQZ Platform and/or the Microfluidic Chips, and Licensed Product packaging, subject to Applicable
Laws and Roche’s reasonable discretion with regard to size and placement of the SQZ Trademarks. 
 Roche shall have the right to obtain the
International Non-proprietary Name (INN) from the World Health Organization and the US Adopted Name (USAN) from the US adopted Names Council (USANC) as the generic name(s) for the Licensed Product. 

Each Party shall grant the other Party a non-exclusive, royalty-free license to use the Product Trademarks, as
applicable, or the SQZ Trademarks (as to SQZ) it selects for the purposes of distributing, promoting, selling and offering for sale the Licensed Products as permitted by this Agreement. Such trademark licenses shall be
non-transferable, except that each Party shall have the right to sublicense such rights to its licensees or independent contractors in the Territory. 

The Party owning the Product Trademark or the SQZ Trademark shall maintain all registrations of such trademarks, and the other Party shall not file any
registrations or other filings in respect of any of such trademarks without owner’s prior written consent. 
 Each Party shall use the trademarks of
the other Party pursuant to this Section 16.3 in accordance with sound trademark and trade name usage principles and the policies of the owning Party, and in accordance with all Applicable Law as reasonably necessary to maintain the validity
and enforceability of the trademarks. Each Party recognizes that the trademarks owned by the other Party represent a valuable asset of such other Party, and that substantial recognition and goodwill are associated with such name, logo and
trademarks. Each Party hereby agrees that, without prior written authorization of the other Party, it shall not use such other Party’s trademarks for any purpose not permitted in this Section 16.3. 

16.4 Prosecution by SQZ 
 SQZ shall, at its own expense
and discretion, Handle (including abandon) all SQZ Patent Rights Covering SQZ Platform, Microfluidic Chips and/or any SQZ Platform Invention (“SQZ Platform Patent Rights”). SQZ shall reasonably confer with Roche in connection with
any SQZ Platform Patent Rights Handled by SQZ to avoid actions detrimental to the patent protection for the inventions Covered by Roche Patent Rights. At SQZ’s expense and reasonable request, Roche shall cooperate, in all reasonable ways with
the Handling of SQZ Platform Patent Rights. 
 SQZ shall, at its own expense and discretion, Handle (including abandon) all SQZ Patent Rights Covering Pre-Option Product Specific Inventions owned by SQZ, Post-Option SQZ Product Specific Inventions, and Other Collaboration Inventions owned by SQZ (“SQZ Product Specific 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 Patent Rights”) and Joint Patent Rights covering Other Cell Therapy Collaboration Joint
Inventions. Expenses for Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions shall be shared equally by SQZ and Roche. SQZ shall confer with and keep Roche reasonably informed regarding the status of such activities with
respect to all SQZ Product Specific Patent Rights. If SQZ elects not to file or to discontinue prosecuting or maintaining any SQZ Product Specific Patent Rights it Handles, it shall so notify Roche reasonably in advance of any relevant deadline with
respect thereto and offer Roche the right to Handle such Patent Rights. If Roche elects in writing to Handle the relevant SQZ Product Specific Patent Rights, then the Parties will reasonably cooperate to enable Roche to Handle such SQZ Product
Specific Patent Rights. Notwithstanding the foregoing, Roche shall not have a backup right to Handle such SQZ Product Specific Patent Rights if SQZ is advised by patent counsel that continuing the filing, prosecution or maintenance thereof would be
detrimental to the strategy for optimizing patent protection for the inventions Covered by such SQZ Product Specific Patent Rights. 
 16.5 Prosecution
by Roche 
 Roche shall, at its own expense and discretion, Handle (including abandon) all Roche Patent Rights Covering
Pre-Option Product Specific Inventions owned by Roche, Post-Option Roche Product Specific Inventions, and Other Collaboration Inventions owned by Roche (“Roche Product Specific Patent Rights”)
and any Joint Patent Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions). Expenses for Joint Patent Rights shall be shared equally by SQZ and Roche. Roche shall confer with and keep SQZ reasonably
informed regarding the status of such activities with respect to all Roche Product Specific Patent Rights and Joint Patent Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions). If Roche elects not to
file or to discontinue prosecuting or maintaining any Roche Product Specific Patent Rights or Joint Patent Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions) it Handles, it shall so notify SQZ
reasonably in advance of any relevant deadline with respect thereto and offer SQZ the right to Handle such Roche Product Specific Patent Rights and Joint Patent Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint
Inventions). If SQZ elects in writing to Handle the relevant Roche Product Specific Patent Rights and Joint Patent Rights, then the Parties will reasonably cooperate to enable SQZ to Handle such Roche Product Specific Patent Rights and Joint Patent
Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions). Notwithstanding the foregoing, SQZ shall not have a backup right to Handle such Roche Product Specific Patent Rights and Joint Patent Rights (other
than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions) if Roche is advised by patent counsel that continuing the filing, prosecution or maintenance thereof would be detrimental to the strategy for optimizing patent
protection for the inventions Covered by such Patent Rights. 
 16.6 Patent Coordination Team 

Where the Parties need to consult with each other on the Handling of Patent Rights, the Parties shall establish a patent coordination team and shall adopt
procedures for interacting on patent matters. 
 16.7 Unified Patent Court (Europe) 

At any time prior to the end of the “transitional period” as such term is used in Article 83 of the Agreement on a Unified Patent Court between the
participating Member States of the European Union, for a given relevant EU Patent Right, Roche may request in writing that SQZ either (i) opt out from the exclusive competence of the Unified Patent Court or (ii) if applicable, withdraw a
previously-registered opt-out, and SQZ shall notify the Registry, pay any such registry fee and take such other action as may be necessary to effect the opt-out or opt-out withdrawal (“Register”). In such case, SQZ shall Register within [********] after it elects to comply with Roche’s written request. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 16.8 CREATE Act 

It is the intention of the Parties that this Agreement is a “joint research agreement” as that phrase is defined in 35 USC §103(c)(3). 

16.9 Infringement 
 Each Party shall promptly provide
written notice to the other Party during the Agreement Term of any (i) known infringement or suspected infringement by a Third Party of any SQZ IP, Roche IP or Joint Patent Rights, or (ii) known or suspected unauthorized use or
misappropriation by a Third Party of any SQZ IP, Roche IP or Joint Know-How, and shall provide the other Party with all evidence in its possession supporting such infringement or unauthorized use or
misappropriation. 
 Within [********] after the applicable Party provides or receives such written notice (“Decision Period”), Roche for
the Roche IP, Roche Product Specific Patent Rights, Joint Patent Rights (other than Joint Patent Rights covering Other Cell Therapy Collaboration Joint Inventions) and Joint Know-How (other than Joint Know-How covering Other Cell Therapy Collaboration Joint Inventions), or SQZ for SQZ IP, SQZ Platform Patent Rights, SQZ Product Specific Patent Rights, Joint Patent Rights covering Other Cell Therapy Collaboration
Joint Inventions and Joint Know-How covering Other Cell Therapy Collaboration Joint Inventions, in its sole discretion, shall decide whether or not to initiate a suit or action in the Territory regarding such
infringement or unauthorized use or misappropriation, and shall notify the other Party in writing of its decision; provided, however, if the infringement exists concurrently for a Roche Product Specific Patent Right in the Roche Territory and a SQZ
Product Specific Patent Right in the SQZ Territory with respect to a Shared Product, the Parties will discuss and coordinate upon an infringement enforcement strategy, including which Party shall bring a suit or action against such Third Party.
Within [********] after a Party provides or receives such written notice (“Decision Period”), the deciding Party, in its sole discretion, shall decide whether or not to initiate a suit or action in the Territory, as applicable, and
shall notify the other Party in writing of its decision in writing. Any notice of a decision as to whether or not to initiate a suit or action shall be a “Suit Notice”.  

If the Party providing a Suit Notice (the “Notifying Party”) decides to bring a suit or take action, once the Notifying Party provides Suit
Notice, it may immediately commence such suit or take such action. In the event that the Notifying Party (i) does not in writing advise the other Party within the Decision Period that the Notifying Party will commence suit or take action, or
(ii) fails to commence suit or take action within a reasonable time after providing Suit Notice, the other Party shall thereafter have the right (subject to the Notifying Party’s written consent, not to be unreasonably withheld} to
commence suit or take action in the Territory and shall provide written notice to the Notifying Party of any such suit commenced or action taken by such other Party; provided that in no such instance shall Roche have the right to bring such suit or
take action with respect to a SQZ Platform Patent Right. 
 Upon written request, the Party bringing suit or taking action (“Initiating Party”)
shall keep the other Party informed of the status of any such suit or action and shall provide the other Party with copies, to the extent the Initiating Party is lawfully permitted to do so, of all substantive documents or communications filed
in such suit or action. The Initiating Party shall have the sole and exclusive right to select counsel for any such suit or action. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
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 The Initiating Party shall, except as provided below, pay all expenses of the suit or action, including the
Initiating Party’s attorneys’ fees, court costs, and any potential damages or other considerations incurred as the result of bringing such suit or action. Any damages, settlement fees or other consideration received as a result of such
suit or action shall be allocated as follows: 
  

	(a)	 First, to reimburse the Initiating Party for its costs and, if any remains, to the other Party for any advisory
counsel or other fees and costs such other Party incurred in such action; and 

  

	(b)	 Second, the balance, if any, shall be allocated [********] to the Initiating Party, and [********] to the other
Party. 

 If the Initiating Party believes it is reasonably necessary or desirable to obtain an effective remedy, upon written request,
the other Party agrees to be joined as a party to the suit or action but shall be under no obligation to participate except to the extent that such participation is required as the result of its being a named party to the suit or action. At the
Initiating Party’s written request, the other Party shall offer reasonable assistance to the Initiating Party in connection therewith at the cost of the Initiating Party. The other Party shall have the right to participate and be represented in
any such suit or action by its own counsel at its own expense. 
 The Initiating Party may settle, consent judgment or otherwise voluntarily dispose of the
suit or action (“Settlement”) without the written consent of the other Party but only if such Settlement can be achieved without adversely affecting the other Party (including any of its Patent Rights). If a Settlement could
adversely affect the other Party, then the written consent of the other Party would be required, which consent shall not be unreasonably withheld. 

16.10 Defense 
 If an action for infringement is commenced
against either Party, its licensees or its Sublicensees by a Third Party related to the conduct of the Research and Development Program within the scope of the Collaboration Plan or the discovery, development, manufacture, use, importation, offer
for sale or sale of a Licensed Product (including that Patent Rights owned by or licensed to such Third Party are infringed or that its trade secrets were misappropriated in connection with such activity), then with respect to Unshared Products,
Roche Products, TCL Products and Shared Products in the Roche Territory, Roche shall have the right and responsibility to resolve any such claim and with respect to Shared Products in the SQZ Territory, SQZ shall have the right and responsibility to
resolve any such claim (each, the “Defending Party”), whether by obtaining a license from such Third Party, by defending against such Third Party’s claims or otherwise, and shall be solely responsible for the defense of any
such action, any and all costs incurred in connection with such action (including, without limitation, attorneys’ and expert fees) and all liabilities incurred in connection therewith, and the other Party shall assist and cooperate with the
Defending Party, at the Defending Party’s expense, to the extent necessary in the defense of such suit. The Defending Party shall have the right to settle the suit or consent to an adverse judgment thereto, in its sole discretion; provided that
the Defending Party shall not enter into any settlement of any such claim without the prior written consent of the other Party if such settlement would require the other Party to be subject to an injunction or to make any monetary payment to the
Defending Party or any Third Party, or admit any wrongful conduct by the other Party or its Affiliates, or would limit or restrict the claims of or admit any invalidity and/or unenforceability of any of the Patent Rights Controlled by the other
Party, or would adversely affect the rights of the other Party and its Affiliates. The Defending Party shall assume full responsibility for the payment of any award for damages, or any amount due pursuant to any settlement entered into by it with
such Third Party. 
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 16.11 Common Interest Disclosures 

With regard to any information or opinions disclosed pursuant to this Agreement by one Party to each other regarding intellectual property and/or technology
owned by Third Parties, the Parties agree that they have common legal interests in, including but not limited to, (i) determining whether, and to what extent, Third Party intellectual property rights may affect the conduct of the Research and
Development Program and/or Compounds and/or Products, and (ii) defending against any actual or prospective Third Party claims based on allegations of misuse or infringement of intellectual property rights relating to the conduct of the Research
and Development Program and/or Products. Accordingly, the Parties agree that all such information and materials obtained by SQZ and Roche from each other will be used solely for purposes of the Parties’ common legal interests with respect to
the conduct of the Agreement. All information and materials will be treated as protected by the attorney-client privilege, the work product privilege, and any other privilege or immunity that may otherwise be applicable. By sharing any such
information and materials, neither Party intends to waive or limit any privilege or immunity that may apply to the shared information and materials. Neither Party shall have the authority to waive any privilege or immunity on behalf of the other
Party without such other Party’s prior written consent, nor shall the waiver of privilege or immunity resulting from the conduct of one Party be deemed to apply against any other Party. 

16.12 Hatch-Waxman 
 Notwithstanding anything herein to
the contrary, should a Party receive a certification for a Product pursuant to the Drug Price Competition and Patent Term Restoration Act of 1984 (Public Law 98-417, known as the Hatch-Waxman Act), as amended,
or its equivalent in a country other than the US, then such Party shall immediately provide the other Party with a copy of such certification. With respect to Unshared Products, TCL Products and Roche Products, Roche shall have, and with respect to
Shared Products, SQZ shall have [********] from date on which it receives or provides a copy of such certification to provide written notice to the other Party (“H-W Suit Notice”) whether such
Party will bring suit, at its expense, within a [********] period from the date of such certification. Should such [********] period expire without the applicable Party bringing suit or providing such H-W Suit
Notice, then the other Party shall be free to immediately bring suit in its name. Each Party will cooperate with the other Party in any such action, at the expense of the Party bringing suit. 

16.13 Generic Products 
 Notwithstanding anything herein
to the contrary, within [********] after the approval of a Licensed Product that has been licensed in the US as a biological product under 42 USC §262(a), and as may be needed from time to time thereafter, the Parties shall consult as to
potential strategies with respect to unexpired US Patent Rights that Cover the Licensed Product. Specifically, in anticipation of a receipt by the Licensed Product’s reference product sponsor (“Reference Product Sponsor”) of a
biosimilar or interchangeable product application pursuant to the Biologics Price Competition and Innovation Act of 2009 (Public Law 111-148), the Parties will discuss the Reference Product Sponsor’s
likely course of action with regard to each such US Patent Right in the procedural steps set forth under 42 USC §262(1), including a general plan for timely communication between the Parties in light of the statutory response deadlines. 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 16.14 Patent Term Extensions 

The Parties shall use Commercially Reasonable Efforts to obtain all available patent term extensions, adjustments or restorations, or supplementary protection
certificates (“SPCs”, and together with patent term extensions, adjustments and restorations, “Patent Term Extensions”). Each Party shall execute such authorizations and other documents and take such other actions
as may be reasonably requested by the other Party to obtain such Patent Term Extensions. All filings for such Patent Term Extensions shall be made by the owner of the underlying Patent Rights; provided, that in the event that the owner elects not to
file for a Patent Term Extension, it shall (a) promptly inform the other Party of its intention not to file and (b)grant the other Party the right to file for such Patent Term Extension. Each Party shall execute such authorizations and other
documents and take such other actions as may be reasonably requested by the other Party to obtain such extensions. The Parties shall cooperate with each other in gaining patent term restorations, extensions and/or SPCs wherever applicable to such
Patent Rights. 
 17. Representations, Warranties, and Covenants 

17.1 Safety Data 
 Each Party has disclosed to the other
Party and will immediately continue to disclose to the other Party (i) the material results of all preclinical testing and human clinical testing of Licensed Product in its possession or Control and (ii) all material information in its
possession or Control concerning side effects, injury, toxicity or sensitivity reaction and incidents or severity thereof with respect to Licensed Product. 

17.2 Third Party Patent Rights 
 SQZ represents and
warrants that it has no actual knowledge of any issued patent owned by any Third Party that is not included in the SQZ Patent Rights that would Cover the SQZ Platform, Microfluidic Chip, or Products in the Field in the Territory. 

17.3 Ownership of Patent Rights 
 SQZ represents and
warrants that it is the exclusive owner of all right, title and interest in, or is the exclusive licensee of, the SQZ Base Patent Rights. 
 17.4
Inventors 
 SQZ represents and warrants that the inventors of the inventions disclosed and/or claimed in SQZ Patent Rights, other than those subject to
the MIT License, have transferred to SQZ full ownership of the SQZ Patent Rights and SQZ Know-How licensed under this Agreement. SQZ represents and warrants that, to the best of its knowledge, the inventors of
the inventions disclosed and/or claimed in the Patent Rights subject to the MIT License have transferred to MIT full ownership of such Patent Rights. 

17.5 Grants 
 Each Party represents and warrants that to
such Party’s actual knowledge, such Party has the lawful right to grant the other Party and its Affiliates the rights and licenses described in this Agreement. 

17.6 MIT License 
 SQZ represents and warrants that the
Parties’ compliance with the terms and conditions of this Agreement will result in compliance with the terms and conditions of the MIT License. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
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 17.7 Authorization 

Each Party represents and warrants to the other Party that the execution, delivery and performance of this Agreement by it and all instruments and documents to
be delivered by it hereunder: (i) are within its corporate power; (ii) have been duly authorized by all necessary or proper corporate action; (iii) are not in contravention of any provision of its certificate of formation or limited
liability company agreement; (iv) to its knowledge, will not violate any law or regulation or any order or decree of any court of governmental instrumentality; (v) will not violate the terms of any indenture, mortgage, deed of trust,
lease, agreement, or other instrument to which it is a party or by which it or any of its property is bound, which violation would have an adverse effect on its financial condition or on its ability to perform its obligations hereunder; and (vi)do
not require any filing or registration with, or the consent or approval of, any governmental body, agency, authority or any other person, which has not been made or obtained previously (other than approvals required under the HSR Act, Regulatory
Approvals required for the sale of Licensed Products and filings with Regulatory Authorities required in connection with Licensed Products). 
 17.8
Validity of Patent Rights 
 SQZ represents and warrants that it has no actual knowledge of any facts that could render invalid and/or unenforceable any
issued claims that are in any of the SQZ Patent Rights. SQZ has no knowledge of any inventorship disputes concerning any SQZ Patent Rights owned by SQZ or licensed from MIT. 

17.9 Ownership and Protection of Know-How 

SQZ represents and warrants that the SQZ Know-How is legitimately in the Control of SQZ and to its knowledge has not
been misappropriated from any Third Party. SQZ represents and warrants that SQZ has taken reasonable measures to protect the confidentiality of the SQZ Know-How. 

17.10 No Claims 
 Each Party represents and warrants that
there are no claims or investigations, pending or threatened against such Party or any of its Affiliates, at law or in equity, or before or by any governmental authority relating to the matters contemplated under this Agreement or that would
materially adversely affect such Party’s ability to perform its obligations hereunder. 
 17.11 No Conflict 

Each Party represents and warrants that neither it nor any of its Affiliates is or will be under any obligation to any person, contractual or otherwise, that
is conflicting with the terms of this Agreement or that would impede the fulfillment of such Party’s obligations hereunder. 
 17.12 Roche
Covenants 
 To the extent allowable under Applicable Law, if Roche or any of its Affiliates or Sublicensees file suit directly against MIT (unless
obligated to by court order or subpoena) with respect to the MIT Patent Rights that have been licensed to SQZ and sublicensed to Roche or its Affiliates or Sublicensees under this Agreement (or Roche, its Affiliates or Sublicensees assist any Third
Party in such a challenge to such MIT Patent Rights) (each, a “Patent Challenge”), then SQZ shall have the right to terminate this Agreement as provided in Section 19.2. Except to the extent required by law, rule or regulation
or rules of a securities exchange. 
 Roche and its Affiliates and Sublicensees, as Sublicensees under the MIT License, shall not use the name of
“Massachusetts Institute of Technology”, “Harvard University”, “Howard Hughes Medical Institute”, “HHMI” or any variation, adaptation, or abbreviation thereof, or of any 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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of their respective trustees, officers, faculty, students, employees, or agents, or any trademark owned by M.I.T., Harvard University or HHMI in any promotional material or other public
announcement or disclosure without the prior written consent of M.I.T, Harvard University, or HHMI, as applicable, which consent M.I.T., Harvard University or HHMI, as applicable, may withhold in its sole discretion. Roche and its Affiliates may
make factual statements during the Agreement Term that Roche and its Affiliates and Sublicensees have a sublicense from MIT under one or more of the patents and/or patent applications comprising the SQZ Patent Rights in business literature. Such
statements may not be used in marketing, promotion, or advertising. 
 17.13 No Other Representations 

EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THE FOREGOING REPRESENTATIONS AND WARRANTIES ARE IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF PRODUCTS. 
 18. Indemnification 

18.1 Indemnification by Roche 
 Roche shall indemnify, hold
harmless and defend SQZ and its Affiliates and their directors, officers, employees and agents (each a “SQZ Indemnified Party”) and against any and all losses, expenses, cost of defense (including without limitation attorneys’
fees, witness fees, damages, judgments, fines and amounts paid in settlement) and any other amounts a SQZ Indemnified Party becomes legally obligated to pay to the extent arising out of any Third Party claim, suit, proceeding or cause of action
brought against such SQZ Indemnified Party with respect to a Licensed Product, alone or in combination with the Microfluidic Chip and SQZ Platform (e.g. product liability claims) conducted by or on behalf of Roche, the Exploitation of Licensed
Products, the breach of this Agreement by Roche or its Affiliates (directly or through Sublicensees or independent contractors) or the gross negligence or willful misconduct of Roche, except to the extent such losses, expenses, costs and amounts
arise out of the breach of this Agreement by SQZ (directly or through Sublicensees or independent contractors) or the gross negligence or willful misconduct of SQZ. Roche shall indemnify, hold harmless and defend HHMI and its trustees, officers,
employees and agents (collectively, the “HHMI lndemnitees”) from and against any claim, liability, cost, expense, damage, deficiency, loss or obligation of any kind or nature (including, without limitation, reasonable attorneys’ fees
and other costs and expenses of defense) (collectively, “Claims”) based upon, arising out of, or otherwise relating to this Agreement or any sublicense to Roche of rights owned in whole or in part by HHMI, including without limitation any
cause of action relating to product liability. The previous sentence will not apply to any Claim that is determined with finality by a court of competent jurisdiction to result solely from the gross negligence or willful misconduct of an HHMI
lndemnitee. Notwithstanding any other provision of this Agreement, Roche’s obligation to defend, indemnify and hold harmless HHMI lndemnitees under this paragraph will not be subject to any limitation or exclusion of liability or damages or
otherwise limited in anyway. 
 18.2 Indemnification by SQZ 

SQZ shall indemnify, hold harmless and defend Roche and its Affiliates and their respective directors, officers, employees and agents (each a “Roche
Indemnified Party”) from and against any and all losses, expenses, cost of defense (including without limitation attorneys’ fees, witness fees, damages, judgments, fines and amounts paid in settlement) and any other amounts a Roche
Indemnified Party becomes legally obligated to pay to the extent arising out of any Third Party claims, suits, proceedings or causes of action brought against such Roche 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
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 Indemnified Party with respect to the breach of this Agreement by SQZ (directly or through Sublicensees or
independent contractors), manufacture and design of the SQZ Platform and Microfluidic Chips (unless manufactured by or on behalf of Roche after a technology transfer), or the gross negligence or willful misconduct of SQZ, except to the extent such
losses, expenses, costs and amounts are due to the breach of the Agreement by Roche or its Affiliates (directly or through Sublicensees or independent contractors) or the gross negligence or willful misconduct of Roche. 

18.3 Procedure 
 In the event of a claim by a Third Party
against a Party entitled to indemnification under this Agreement (“Indemnified Party”), the Indemnified Party shall promptly notify the other Party (“Indemnifying Party”) in writing of the claim and the Indemnifying
Party shall undertake and solely manage and control, at its sole expense, the defense of the claim and its settlement. The Indemnified Party shall cooperate with the Indemnifying Party and may, at its option and expense, be represented in any such
action or proceeding by counsel of its choice. The Indemnifying Party shall not be liable for any litigation costs or expenses incurred by the Indemnified Party without the Indemnifying Party’s written consent. The Indemnifying Party shall not
settle any such claim unless such settlement fully and unconditionally releases the Indemnified Party from all liability relating thereto, unless the Indemnified Party otherwise agrees in writing. 

19. Liability 
 19.1 Limitation of Liability 

Subject to compliance with Article 5, neither Party shall be liable to the other Party as a result of failure or delay to develop and/or commercialize Licensed
Product, including but not limited to, (a)a delay in timelines, or (b) delay or failure to recruit patients, or (c) a change in its respective study protocols, or (d) failure of the other Party to obtain Regulatory Approval for
Licensed Product. 
 19.2 Disclaimer 
 EXCEPT FOR
INDEMNIFICATION UNDER ARTICLE 18, OR BREACHES OF A PARTY’S OBLIGATIONS UNDER ARTICLE 20, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, INDIRECT OR OTHER SIMILAR DAMAGES ARISING FROM OR RELATING
TO ANY BREACH OF THIS AGREEMENT OR ANY TORT CLAIMS ARISING HEREUNDER, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, INCLUDING LOSS OF PROFITS OR REVENUE.

 20. Obligation Not to Disclose Confidential Information 

20.1 Non-Use and Non-Disclosure 

During the Agreement Term and for [********] thereafter (provided that with respect to trade secrets, such time period shall be for so long as the Disclosing
Party protects such Confidential Information as a trade secret), a Receiving Party shall (i) treat Confidential Information provided by Disclosing Party as it would treat its own information of a similar nature, (ii) take all reasonable
precautions not to disclose such Confidential Information to Third Parties, without the Disclosing Party’s prior written consent, and (iii) not use such Confidential Information other than for fulfilling its obligations under this
Agreement. 
  
 [***] Certain information in this document has been excluded pursuant to
Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 20.2 Permitted Disclosure 

Notwithstanding the obligation of non-use and non-disclosure set forth in
Section 20.1, the Parties recognize the need for certain exceptions to this obligation, specifically set forth below, with respect to press releases, Patent Rights, publications, and certain commercial considerations. 

20.3 Press Releases 
 The Parties agree that the material
terms of this Agreement are the Confidential Information of both Parties, subject to the special authorized disclosure provisions set forth in this Agreement. 

SQZ may make a public announcement of the execution of this Agreement as attached as Appendix 20.3. 

Roche may issue press releases in accordance with its internal policy that typically does not foresee a press release until proof of concept has been achieved
for a Product. Roche shall provide SQZ with a copy of any draft press release related to the activities contemplated by this Agreement at least [********] prior to its intended publication for SQZ’s review. SQZ may provide Roche with suggested
modification to the draft press release. Roche shall consider in good faith SQZ’s suggestions in issuing its press release. 
 SQZ may issue press
releases related to the activities contemplated by this Agreement that have either (i) been approved by Roche, such approval not to be unreasonably withheld or delayed, or (ii) are required to be issued by SQZ as a matter of law and SQZ
has advice of legal counsel to that effect. In all circumstances, SQZ shall provide Roche with a draft press release at least [********] prior to its intended publication for Roche’s review. During such period, Roche shall (i) approve the
draft press release and permit SQZ to issue the press release, (ii) contact SQZ to discuss modification to the draft press release, or (iii) contact SQZ and disapprove the press release. If Roche asks for modification, then SQZ shall
either make such modification or work with Roche to arrive at a press release that Roche approves. 
 Each Party shall have the right to make a press
release announcing the achievements of Regulatory Approvals or clinical results if required by Applicable Law. Neither Party shall be required to notify or seek the permission of the other Party to repeat any information regarding the terms of this
Agreement, or the activities hereunder or thereunder that have already been publicly disclosed by such Party or such Party’s Affiliate, or by the other Party or any of its Affiliates, in accordance with this Section 20.3 

To ensure communication alignment, responses (if any) to inquiries by media or other Third Parties after issuance of a permitted press release by SQZ (solely
or jointly with Roche) shall consist solely of the press release language or shall follow the response guidelines that may be mutually developed by the Parties. 

20.4 Publications 
 During the Agreement Term, the
following restrictions shall apply with respect to disclosure by any Party of Confidential Information relating to the Product in any publication or presentation: 
  

	a)	 Both Parties acknowledge that it is their policy for the studies and results thereof to be registered and
published in accordance with their internal guidelines. Each Party, in accordance with its internal policies and procedures, shall have the right to publish all studies, Clinical Studies and results thereof on the Clinical Study registries that are
maintained by or on behalf of such Party. 

  
 [***] Certain
information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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	b)	 A Party (“Publishing Party”) shall provide the other Party with a copy of any proposed
publication or presentation at least [********] prior to submission for publication so as to provide such other Party with an opportunity to recommend any changes it reasonably believes are necessary to continue to maintain the Confidential
Information disclosed by the other Party to the Publishing Party in accordance with the requirements of this Agreement. The incorporation of such recommended changes shall not be unreasonably refused; and if such other Party notifies
(“Publishing Notice”) the Publishing Party in writing, within [********] after receipt of the copy of the proposed publication or presentation that such publication or presentation in its reasonable judgment (i) contains an
Invention, solely or jointly conceived and/or reduced to practice by the other Party, for which the other Party reasonably desires to obtain patent protection or (ii) could be expected to have a material adverse effect on the commercial value
of any Confidential Information disclosed by the other Party to the Publishing Party, the Publishing Party shall prevent such publication or delay such publication for a mutually agreeable period of time. In the case of Inventions, a delay shall be
for a period reasonably sufficient to permit the timely preparation and filing of a patent application(s) on such invention, and in no event less than [********] from the date of the Publishing Notice. 

20.5 Commercial Considerations 
 Notwithstanding
Section 20.1 (Confidential Information), each Party may disclose Confidential Information to the extent such disclosure is reasonably necessary in the following situations: 

(a) in connection with the filing or prosecution of Patents Rights in accordance with Section 16. 

(b) regulatory filings and other filings with Regulatory Authorities with respect to a Licensed Product in order to obtain or maintain INDs or
applications for Regulatory Approval with respect to a Licensed Product, in each case, solely to the extent permitted hereunder; 
 (c)
responding to a valid order of a court of competent jurisdiction or other competent authority; provided that the Receiving Party shall first have given to the Disclosing Party notice and a reasonable opportunity to quash the order or obtain a
protective order requiring that the Confidential Information be held in confidence or used only for the purpose for which the order was issued; and provided, further, that if such order is not quashed or a protective order is not obtained, the
Confidential Information disclosed shall be limited to the information that is legally required to be disclosed; 
 (d) complying with
Applicable Law, including regulations promulgated by securities exchanges; provided, further, that the Confidential Information disclosed shall be limited to the information that is legally required to be disclosed; 

(e) disclosure to its Affiliates (including its and its Affiliate’s officers, directors, employees and agents) and Third Parties in
connection with the performance by the Disclosing Party of its obligations or the exercise of its rights and licenses under this Agreement (including with respect to development, manufacturing and commercialization of Licensed Products and in
connection with the exploitation of Joint Inventions); provided that each disclosee, prior to any such disclosure, must be bound by obligations of confidentiality and non-use at least as equivalent in scope as
those set forth in this Section 20, except the term of such obligations may be for as long a duration as can reasonably be negotiated, but in any case such term shall have a duration that is commercially reasonable under the circumstances;
provided, further, that the Receiving Party remains responsible and primarily liable for the compliance of any such disclosee with such obligations of confidentiality and non-use; 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 (f) disclosure of the terms of this Agreement to any bona fide potential or actual investor,
investment banker, acquirer, merger partner, Sublicensee, collaborator or other potential or actual financial partner; provided that each disclosee must be bound by obligations of confidentiality and non-use
at least as equivalent in scope as those set forth in this Section 20 prior to any such disclosure, except the term of such obligations may be for as long a duration as can reasonably be negotiated, but in any case such term shall have a
duration that is commercially reasonable under the circumstances; provided, further, that the Receiving Party remains responsible and primarily liable for the compliance of any such discloses with such obligations of confidentiality and non-use; 
 (g) disclosure of any scientific and clinical results or scientific and clinical status
reports of the Parties under this Agreement (including data from any Clinical Study), in each case, specific to a Licensed Product, to any bona fide potential or actual investor, investment banker, acquirer, merger partner, Sublicensee, collaborator
or other potential or actual financial partner; provided that (i) each disclosee must be bound by obligations of confidentiality and non -use at least as equivalent in scope as those set forth in this Section 20 prior to any such
disclosure, except the term of such obligations may be for as long a duration as can reasonably be negotiated, but in any case such term shall have a duration that is commercially reasonable under the circumstances, and (ii) such Party submits
the contents of such proposed disclosure to the other Party at least [********] prior to such disclosure in order to permit such other Party the opportunity to review and comment on such disclosure (including requiring the removal of any
Confidential Information of such other Party, as applicable), but such Party shall not be required to disclose the identity of the disclosee; provided, further, that the Receiving Party remains responsible and primarily liable for the compliance of
any such disclosee with such obligations of confidentiality and non-use and 
 (h) disclosure by SQZ
to MIT to fulfill the obligations under the MIT License. 
 Notwithstanding the foregoing, in the event that a Party is required to make a
disclosure of the other Party’s Confidential Information pursuant to clauses (b), (c) or (d), it will, except where impracticable, give reasonable advance notice to the other Party of such disclosure and use reasonable efforts to secure
confidential treatment of such information and, in each case, each Party agrees to take all reasonable action to minimize disclosure of Confidential Information of the other Party. 

21. Term and Termination 
 21.1 Commencement and
Agreement Term 
 This Agreement shall commence upon the Effective Date and continue for the Agreement Term unless earlier terminated pursuant to this
Article 21. 
 21.2 Termination 

21.2.1 Termination for Breach 
 A Party (“Non-Breaching Party”) shall have the right to terminate this Agreement in its entirety or on a Product-by-Product or country-by-country basis in the event the other Party (“Breaching Party”) is in breach of any of its material obligations under this Agreement. The non-Breaching Party shall provide written notice to the Breaching Party, which notice shall identify the breach 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
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and the Product(s) and country(ies) in which the Non-Breaching Party intends to have this ( Agreement terminate. The Breaching Party shall have a period of
[********] after such written notice is provided (“Peremptory Notice Period”) to cure such breach. If the Breaching Party has a bona fide dispute as to whether such breach occurred or has been cured, it will so notify the Non-Breaching Party, and the expiration of the Peremptory Notice Period shall be tolled until such dispute is resolved pursuant to Section 23.2. Upon a determination of breach or failure to cure, the Breaching
Party may have the remainder of the Peremptory Notice Period to cure such breach. If such breach is not cured within the Peremptory Notice Period, then absent withdrawal of the Non-Breaching Party’s
request for termination, this Agreement shall terminate in its entirety or such identified countries effective as of the expiration of the Peremptory Notice Period. 

21.2.2 Termination for Patent Challenge 

To the extent allowable under Applicable Law, SQZ shall have the right to terminate this Agreement in its entirety or on a Product-by-Product or country-by-country basis, as applicable, upon [********] prior written notice if Roche or any of its
Affiliates or Sublicensees brings a Patent Challenge as described in Section 17.12. 
 21.2.3 Insolvency 

A Party shall have the right to terminate this Agreement, if the other Party incurs an Insolvency Event; provided, however, in the case of any involuntary
bankruptcy proceeding, such right to terminate shall only become effective if the Party that incurs the Insolvency Event consents to the involuntary bankruptcy or such proceeding is not dismissed within [********] after the filing thereof. 

21.2.4 Effects of Change of Control 
 If
there is a Change of Control, then the Party experiencing such Change of Control (“Acquired Party”) shall provide written notice to the other Party (“Non-Acquired Party”)j at
least [********] prior to completion of such Change of Control, sub ect to any confidentiality obligations of the Acquired Party then in effect (but in any event shall notify the Non-Acquired Party within
[********] after completion of such Change of Control). 
 The Change of Control Group in connection with such Change of Control shall agree in writing with
the Non-Acquired Party that it will not utilize any of the Non-Acquired Party’s Know-How, Patent Rights, Inventions,
materials or Confidential Information or Joint Know-How, Joint Patent Rights or Joint Inventions (collectively, “Sensitive Information”) for the research, development or commercialization of
any product for the treatment of any Indication or patient population for which a Product may be developed or commercialized. 
 Following consummation of
the Change of Control, the Non-Acquired Party and the Change of Control Group shall adopt in writing reasonable procedures to prevent the disclosure of Sensitive Information beyond the Acquired Party’s
personnel who need to know the Sensitive Information solely for the purpose of fulfilling the Acquired Party’s obligations under this Agreement. The Non-Acquired Party may restrict the Acquired
Party’s participation in the JSC and any other committee in effect at the time of the Change of Control. In the event of Change of Control of SQZ, Roche may unilaterally terminate SQZ’s right to participate in and attend discussions with
Regulatory Authorities under Section 8.2.4. 
  
 [***] Certain information in this
document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 [********] 

21.2.5 Termination by Roche without a Cause 

Prior to exercise of the Roche Antigen Option for a Collaboration Product or a SQZ Product (or for a Roche Product the Initiation of a first Phase II Study),
or prior to exercise of the Roche TCL Option for TCL Products (“Initial Termination Period”), Roche shall have the right to terminate the Agreement at any time on an Antigen Product-by-Antigen Product or TCL Product basis, as applicable, upon [********] prior written notice to SQZ. Following the Initial Termination Period, Roche shall have the right to terminate this Agreement as
a whole or on a Licensed Product-by-Licensed Product basis upon [********] prior written notice, if such notice is to become effective before First Commercial Sale of
the Product or as a whole or on a Licensed Product-by-Licensed Product or country-by country basis upon [********] prior written
notice if such notice is to become effective on or after the First Commercial Sale of the Licensed Product. The effective date of termination under this Section 21.2.5 shall be the date upon which the relevant notice period expires. 

21.3 Consequences of Termination 

21.3.1 Termination by SQZ for Breach by Roche 

Upon any termination by SQZ for breach by Roche under Section 21.2.1, the rights and licenses granted by SQZ to Roche under this Agreement shall terminate
in their entirety or on a Product -by-Product or country-by-country basis, as applicable, on the effective date of
termination. If SQZ does not practice its aforementioned right to terminate, then the rights and licenses granted by SQZ to Roche under this Agreement shall continue; provided, however, Roche will compensate SQZ damages caused by such Roche’s
breach. Both Parties shall discuss in good faith and agree on the extent of damages caused by Roche’s breach of its obligations under this Agreement, and appropriate payment and royalty adjustments and compensation for damages as may be
applicable. SQZ shall notify Roche of its decision on whether or not it shall terminate this Agreement (i) in the case of breach, within [********] after the expiration of the Peremptory Notice Period or (ii) in the case of an Insolvency
Event, the date such termination would have become effective. 
 21.3.2 Termination by SQZ for Patent Challenge 

Upon any termination by SQZ for Patent Challenge by Roche or its Affiliates or Sublicensees under Section 21.2.2, the rights and licenses granted by SQZ
to Roche under this Agreement shall terminate in their entirety or on a Product-by-Product or
country-by-country basis, as applicable, on the effective date of termination. If SQZ does not practice its aforementioned right to terminate, then the rights and
licenses granted by SQZ to Roche under this Agreement shall continue, except SQZ shall have the right to withdraw the MIT Patent Rights subject to the Patent Challenge from the Patent Rights licensed by SQZ under this Agreement. 

21.3.3 Termination by Roche for Breach by SQZ or SQZ Insolvency 

Upon breach by SQZ or SQZ’s Insolvency, Roche shall have the right to terminate this Agreement in accordance with Section 21.2.1 or
Section 21.2.3, as applicable. If Roche does not practice its aforementioned right to terminate, then Roche may retain the rights and licenses granted by SQZ under this Agreement; provided, however, that SQZ will either (a) reduce the
payments and royalties payable by Roche specified in Article 12, or (b) compensate damages caused by such SQZ’s breach. Both Parties shall discuss in good faith and agree on the extent 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -70- 

 of damages caused by SQZ’s breach of its obligations under this Agreement, and appropriate payment and
royalty adjustments and compensation for damages as may be applicable. Roche shall notify SQZ of its decision on whether or not it shall terminate this Agreement (a) in the case of breach, within ninety (90) days after the expiration of
the Peremptory Notice Period or (b)in the case of an Insolvency Event, the date such termination would have become effective. 
 21.3.4
Termination by Roche without Cause 
 Upon any termination by Roche without cause, the rights and licenses granted by SQZ to Roche under this Agreement
shall terminate on the effective date of termination in their entirety or on an Antigen Product-by-Antigen Product, TCL Product, Licensed
Product-by-Licensed Product or country-by-country basis, as applicable. 

21.3.5 Direct License 
 Irrespective of
anything to the contrary in this Agreement, any existing, permitted sublicense granted by Roche under Section 3.5 of this Agreement (and any further sublicenses thereunder) shall, upon the written request of Roche, remain in full force and
effect, provided that (i) such Sublicensee is not then in breach of its sublicense agreement (and, in the case of termination by SQZ for breach by Roche, that such Sublicensee and any further Sublicensees did not cause the breach that gave rise
to the termination by SQZ); (ii) and such Sublicensee agrees to be bound to SQZ under the terms and conditions of such sublicense agreement, and (iii) SQZ’s obligations under any such direct license shall not be greater than its
obligations under this Agreement. 
 21.3.6 Ancillary Agreements 

Unless otherwise agreed by the Parties, the termination of this Agreement shall cause the automatic termination of all ancillary agreements related hereto, if
any. 
 21.3.7 Royalty and Payment Obligations 

Termination of this Agreement by a Party, for any reason, shall not release a Party from any obligation to pay royalties or make any payments that are payable
prior to the effective date of termination. Termination of this Agreement by a Party, for any reason, will release a Party from any obligation to pay royalties or make any payments that would otherwise become payable on or after the effective date
of termination. 
 21.3.8 Grant-Back License 

Unless or until terminated by Roche for breach under Section 21.2.1, upon the effective date of any termination of this Agreement in its entirety, the
license granted to SQZ pursuant to Section 3.4 shall survive and shall automatically be expanded to include the right to Exploit products in the Field in the Territory. For clarity, if Roche terminates for breach under Section 21.2.1, then
the licenses granted to SQZ under Section 3.2.2 and Section 16.1 shall terminate. No licenses are granted by Roche to SQZ to Third Party Antigens used in connection with Roche Products in the event of termination of this Agreement. 

21.3.9 Transition to SQZ 
 In addition to
the other consequences of termination set forth in this Section 21.3, for each Licensed Product that is terminated hereunder, if SQZ desires to continue development and/or commercialization of such Licensed Product, then SQZ shall give a
Continuation Election Notice to Roche within [********] of a notice of termination under Sections 21.2.1, 21.2.2, 21.2.3, or 21.2.5, and if Roche receives such a timely Continuation Election Notice together with a payment of [********], and to the
extent reasonably 
  
 [***] Certain information in this document has been excluded
pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -71- 

 requested by SQZ, then Roche shall ensure the timely transition of all rights to such terminated Licensed
Product to SQZ, including (a) the transfer and assignment of ownership of all INDs and Regulatory Approvals for such Licensed Product (and all related regulatory documentation and materials), (b) promptly transferring to SQZ copies of all data,
reports, records and materials in Roche’s possession or control that relate to the terminated Licensed Product, (c) granting to SQZ licenses under all intellectual property of Roche or its Affiliates necessary or being used by Roche or its
Affiliates at the time of such termination to develop, manufacture, use, import and sell such terminated Licensed Product, (d) assign to SQZ the Roche Product Trademarks for such terminated Licensed Product, and (e) to the extent SQZ is
not manufacturing such terminated Licensed Product for Roche, Roche shall (i) negotiate, in good faith, a supply agreement for such terminated Licensed Product at a cost of FBMC plus [********], or (ii) transfer any required technology to
SQZ or its designee to enable SQZ or such designee to manufacture such terminated Licensed Product; provided that, in any event, Roche shall ensure, for up to [********], that SQZ has a continuous and uninterrupted supply of such terminated Licensed
Product until such supply agreement or transition is accomplished. All of Roche’s obligations under this Section 21.3.8 with respect to providing transitional services or supply of Licensed Products shall terminate in their entirety
[********] after the effective date of termination. 
 For any Licensed Product transitioned by Roche to SQZ as the result of termination, the Parties will
negotiate in good faith a commercially reasonable royalty payable by SQZ to Roche on sales of such transitioned Licensed Product to compensate Roche for Roche’s contribution to the value of the reverted Licensed Product. Products containing a
Third Party Antigen shall not be subject to the provisions of this Section 21.3.9. 
 21.4 Survival 

Section 1 (Definitions — to the extent necessary to interpret the Agreement), Section 3.4 (Grantback License to SQZ), Section 3.9 (License
to Other Collaboration Inventions), Article 13 (Accounting and Reporting), Section 16.1 (Ownership of Inventions), Article 16 (Intellectual Property) (with respect to Joint Inventions, Joint Patent Rights and Joint Know-How), Section 17.12 (Roche Covenants) (to the extent Roche retains a license. after termination), Article 18 (Indemnification) (as to events occurring prior to termination or thereafter in the course of
practicing licenses retained by the indemnifying Party), Article 19 (Liability), Article 20 (Obligation Not to Disclose Confidential Information), excluding Section 20.4, Section 21.3 (Consequences of Termination), Section 21.4
(Survival), Article 23 (except Section 23.5) shall survive any expiration or termination of this Agreement for any reason. 
 22. Bankruptcy

 All licenses (and to the extent applicable rights) granted under or pursuant to this Agreement by a Party to the other Party are, and shall otherwise be
deemed to be, for purposes of Section 365(n) of Title 11, US Code (the “Bankruptcy Code”) licenses of rights to “intellectual property” as defined under Section 101(60) of the Bankruptcy Code. Unless a Party as a
licensee or Sublicensee elects to terminate this Agreement pursuant to Section 21.2, the Parties agree that the licensee or Sublicensee of such rights under this Agreement shall retain and may fully exercise all of its rights and elections
under the Bankruptcy Code, subject to the continued performance of its obligations under this Agreement. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -72- 

 23. Miscellaneous 

23.1 Governing Law 
 This Agreement shall be
governed by and construed in accordance with the laws of the State of New York, without reference to its conflict of laws principles, and shall not be governed by the United Nations Convention of International Contracts on the Sale of Goods (the
Vienna Convention). 
 23.2 Disputes 
 Unless otherwise
set forth in this Agreement, in the event of any dispute in connection with this Agreement, such dispute shall be referred to the respective executive officers of the Parties designated below or their designees, for good faith negotiations
attempting to resolve the dispute. The designated executive officers are as follows: 
  

									
		 	 For SQZ:
	  	 Chief Executive Officer
	  		  	
		 	 For Roche:
	  	 Head of Roche Partnering
	  		  	

 23.3 Arbitration 
 Should
the Parties fail to agree within [********] after such dispute has first arisen, it shall be finally settled by arbitration in accordance with the Rules of the American Arbitration Association (“AAA”) as in force at the time when
initiating the arbitration. The tribunal shall consist of three arbitrators. The place of arbitration shall be New York, US. The language to be used shall be English. 

23.3.1 Arbitrators 
 Each Party shall
nominate one arbitrator. Should the claimant fail to appoint an arbitrator in the request for arbitration within [********] of being requested to do so, or if the respondent should fail to appoint an arbitrator in its answer to the request for
arbitration within [********] of being requested to do so, the other Party shall request the AAA to make such appointment. 
 The arbitrators nominated by
the Parties shall, within [********] from the appointment of the arbitrator nominated in the answer to the request for arbitration, and after consultation with the Parties, agree and appoint a third arbitrator, who will act as a chairman of the
Arbitral Tribunal. Should such procedure not result in an appointment within the [********] time limit, either Party shall be free to request the AAA to appoint the third arbitrator. 

Where there is more than one claimant and/or more than one respondent, the multiple claimants or respondents shall jointly appoint one arbitrator. 

If any Party-appointed arbitrator or the third arbitrator resigns or ceases to be able to act, a replacement shall be appointed in accordance with the
arrangements provided for in this clause. 
 New York shall be the seat of the arbitration. The arbitrators shall, in rendering any decision hereunder,
apply the substantive law set forth in Section 23.1 without regard to conflict of laws provisions. 
 Documents submitted in the arbitration (the
originals of which are not in English) shall be submitted together with an English translation. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -73- 

 23.3.2 Decisions; Timing of Decisions 

The arbitrators shall render a written opinion setting forth findings of fact and conclusions of law with the reason therefor stated, within no later than
[********] from the date on which the arbitrators were appointed to the dispute. A transcript of the evidence adduced at the arbitration hearing shall be made and, upon request, shall be made available to each Party. 

Notwithstanding the above, in the case of disputes that are not finally resolved pursuant to Section 23.2, the arbitrators shall render a written opinion
setting forth findings of fact and conclusions of law with the reason therefor stated, within no later than [********] from the date on which the arbitrators were appointed to the dispute. 

The time periods set forth in the AAA Rules shall be followed; provided however that the arbitrators may modify such time periods as reasonably necessary to
render a written opinion in accordance with this Section 23.3.2. 
 The arbitrators are empowered to award any remedy allowed by law, including money
damages, prejudgment interest and attorneys’ fees, and to grant final, complete, interim, or interlocutory relief, including injunctive relief. 
 This
arbitration agreement does not preclude either Party seeking conservatory or interim measures from any court of competent jurisdiction including, without limitation, the courts having jurisdiction by reason of either Party’s domicile.
Conservatory or interim measures sought by either Party in any one or more jurisdictions shall not preclude the arbitrators from granting conservatory or interim measures. Conservatory or interim measures sought by either Party before the
arbitrators shall not preclude any court of competent jurisdiction granting conservatory or interim measures. 
 In the event that any issue shall arise
which is not clearly provided for in this Section 23.3, the matter shall be resolved in accordance with the AAA Rules. 
 Any arbitration proceeding
hereunder shall be confidential and the arbitrators shall issue appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by law, neither Party shall make (or instruct the arbitrators to make) any
public announcement with respect to the proceedings or decision of the arbitrators without prior written consent of the other Party. The existence of any dispute submitted to arbitration, and the award, shall be kept in confidence by the Parties and
the arbitrators, except as required in connection with the enforcement of such award or as otherwise required by Applicable Law. 
 Notwithstanding anything
to the contrary in this Agreement, any and all issues regarding the scope, construction, validity and/or enforceability of any Patent Rights shall be determined in a court of competent jurisdiction under the local patent laws of the jurisdictions
having issued the Patent Rights in question. 
 Notwithstanding anything to the contrary in this Agreement, any and all issues regarding a breach or alleged
breach of a Party’s obligations under Article 18 (Obligation Not to Disclose Confidential Information) shall be determined in a court of competent jurisdiction under the laws of New Jersey, with express exclusion of its conflict of laws
principles. 
  
 [***] Certain information in this document has been excluded pursuant
to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
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 23.4 Assignment 

Neither Party may assign its rights or obligations under this Agreement absent the prior written consent of the other Party, except to any of its Affiliates or
in the context of a merger, acquisition, sale or other transaction involving all or substantially all of the assets to which this Agreement relates of the Party seeking to assign, in which case such Party in its sole discretion may assign its rights
and obligations under this Agreement. Notwithstanding anything to the contrary in this Agreement, in the event of any such assignment, the intellectual property rights of the acquiring party (if other than one of the Parties to this Agreement) shall
not be included in the technology licensed to the other Party hereunder to the extent held by such acquirer prior to such transaction, or to the extent such technology is developed outside the scope of activities conducted under this Agreement with
respect to Products. The SQZ Know-How and SQZ Patent Rights shall exclude any intellectual property owned or Controlled by a permitted assignee or successor and not developed in connection with activities
conducted with respect to Licensed Products. Any permitted assignment shall be binding on the successors of the assigning Party. 
 23.5 Debarment

 Each Party represents and warrants that it has never been debarred under 21 U.S.C. §335a, disqualified under 21 C.F.R. §312.70 or
§812.119, sanctioned by a Federal Health Care Program (as defined in 42 U.S.C §1320 a-7b(f)), including without limitation the federal Medicare or a state Medicaid program, or debarred, suspended,
excluded or otherwise declared ineligible from any other similar Federal or state agency or program. In the event a Party receives notice of debarment, suspension, sanction, exclusion, ineligibility or disqualification under the above-referenced
statutes, such Party shall immediately notify the other Party in writing and such other Party shall have the right, but not the obligation, to terminate this Agreement, effective, at such other Party’s option, immediately or at a specified
future date. 
 23.6 Independent Contractor 
 No
employee or representative of either Party shall have any authority to bind or obligate the other Party to this Agreement for any sum or in any manner whatsoever or to create or impose any contractual or other liability on the other Party without
said Party’s prior written approval. For all purposes, and notwithstanding any other provision of this Agreement to the contrary, SQZ legal relationship to Roche under this Agreement shall be that of independent contractor, and nothing
contained in this Agreement shall be deemed or construed to create a partnership, joint venture, employment, franchise, agency or fiduciary relationship between the Parties. 

23.7 Unenforceable Provisions and Severability 
 If any of
the provisions of this Agreement are held to be void or unenforceable, then such void or unenforceable provisions shall be replaced by valid and enforceable provisions that will achieve as far as possible the economic business intentions of the
Parties. However the remainder of this Agreement will remain in full force and effect, provided that the material interests of the Parties are not affected, i.e. the Parties would presumably have concluded this Agreement without the unenforceable
provisions. 
 23.8 Waiver 
 The failure by either Party
to require strict performance and/or observance of any obligation, term, provision or condition under this Agreement will neither constitute a waiver thereof nor affect in any way the right of the respective Party to require such performance and/or
observance. The waiver by either Party of a breach of any obligation, term, provision or 
 condition hereunder shall not constitute a waiver of any
subsequent breach thereof or of any other obligation, term, provision or condition. 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -75- 

 23.9 Appendices 

All Appendices to this Agreement shall form an integral part to this Agreement. 

23.10 Entire Understanding 
 This Agreement contains the
entire understanding between the Parties hereto with respect to the within subject matter and supersedes any and all prior agreements, understandings and arrangements, whether written or oral. 

23.11 Amendments 
 No amendments of the terms and
conditions of this Agreement shall be binding upon either Party hereto unless in writing and signed by both Parties. 
 23.12 Invoices 

All invoices that are required or permitted hereunder shall be in writing and sent by 

(a) SQZ to Roche at the following address or such other address as Roche may later provide: 

F. Hoffmann-La Roche Ltd 

Kreditorenbuchhaltung 

Grenzacherstrasse 124 

4070 Basel 

Switzerland 

Attn: (name of a Roche contact at time of invoice, e.g. the Alliance Director) 

(b) Roche to SQZ at the following address or such other address as SQZ may later provide: 

SQZ Biotechnologies Company 

134 Coolidge Avenue 

Watertown, Massachusetts 02472 

U.S.A. 

Attn: Chief Executive Officer 

All amounts payable under this Agreement must be invoiced to the appropriate address. Payments are payable in the timeframe set forth in the Agreement with
the time period for payment being triggered by receipt of the invoice by the paying Party. No payment is payable in the absence of an invoice. 
 23.13
Notice 
 All notices that are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent by nationally recognized
overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -76- 

							
		 	 if to SQZ, to:
	  	 SQZ Biotechnologies Company
	  	
		 		  	 134 Coolidge Avenue
	  	
		 		  	 Watertown, Massachusetts 02472
	  	
		 		  	 U.S.A.
	  	
		 		  	 Attn: Armon Sharei
	  	
		 	 and:
	  	 Morgan, Lewis & Beckius, LLP
	  	
		 		  	 502 Carnegie Center
	  	
		 		  	 Princeton, NJ 08540
	  	
		 		  	 U.S.A.
	  	
		 		  	 Attn: David Glazer
	  	
		 	 if to Roche, to:
	  	 F. Hoffmann-La Roche Ltd
	  	
		 		  	 Grenzacherstrasse 124
	  	
		 		  	 4070 Basel
	  	
		 		  	 Switzerland
	  	
		 		  	 Attn: Legal Department
	  	
		 	 and:
	  	 Hoffmann-La Roche Inc.
	  	
		 		  	 150 Clove Road
	  	
		 		  	 Suite 8
	  	
		 		  	 Little Falls, New Jersey 07424
	  	
		 		  	 U.S.A.
	  	
		 		  	 Attn. Corporate Secretary
	  	

 or to such other address as the Party to whom notice is to be given may have furnished to the other Party in writing in
accordance herewith. 
 [Signature Page Follows] 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

  
 -77- 

 JN WITNESS WHEREOF, the Parties have entered into this Agreement as of the Effective Date

  

									
	 SQZ Biotechnologies Company 
	 		 	
					
	By:	 	/s/ Armon Sharei	 		 		 	
	Name:	 	 Armon Sharei
	 		 		 	
	Title:	 	 CEO
	 		 		 	

  

									
	 F. Hoffmann-La Roche Ltd.
	 		 	
					
	By:	 	/s/ Dr. Franziska Bachler	 		 	By:	 	/s/ Vikas Kabra
	Name:	 	 Dr. Franziska Bachler
	 		 	Name:	 	 Vikas Kabra

	Title:	 	 Legal Counsel
	 		 	Title:	 	 Head of Transaction Excellence

  

									
	 Hoffmann-La Roche Inc.
	 		 	Approved As To Form LAW DEPT.
					
	By:	 	/s/ Dr. Franziska Bachler	 		 	By:	 	 
	 Name:
	 	 John P. Parlse
	 		 		 	
	 Title:
	 	 Authorized Signatory
	 		 		 	

  
 [***] Certain information in this document has been
excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

  
 -78- 

 Appendix 1.9 

BBS Criteria 
 [********] 

 
 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

 Appendix 1.16 

Clinical PoC Criteria for the Initial Collaboration Product 

[********] 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

 Appendix 1.20 

Collaboration PlanWORKPLAN FOR SQZ-ROCHE PBMC with HPV Antigens 

[********] 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed. 

 Appendix 1.94 

SQZ Base Patent Rights 
  

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

  
 [***] Certain information in this document has been
excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

 Appendix 20.3 

Form of SQZ Press Release 

SQZ Biotech Expands Cell Therapy Partnership with Roche to Develop Antigen Presenting Cells for Immune-Oncology 

 

	 	•	 	 Collaboration combines SQZ Biotech’s novel cell therapy platform with Roche’s cancer immunotherapy
expertise 

  

	 	•	 	 SQZ to receive up to $125 million in upfront and near-term milestone payments 

 

	 	•	 	 SQZ has the option to obtain commercialization rights 

October 10, 2018 -Watertown, MA -SQZ Biotechnologies (SQZ), a cell therapy company developing novel treatments for multiple
therapeutic areas, today announced the expansion of its collaboration with Roche (SIX: RO, ROG; OTCQX: RHHBY) in cellular therapy. The expanded partnership furthers the synergistic combination of SQZ’s innovation and expertise in cell therapy
with Roche’s cancer immunotherapy expertise. Under the terms, SQZ and Roche will jointly develop and commercialize certain products based on antigen presenting cells (APCs) created by the SQZ platform for the treatment of oncology indications.

 “We believe that this new expanded collaboration accelerates our ability to bring a broad range of impactful oncology products to market,” said
Armon Sharei, PhD, founder and Chief Executive Officer of SQZ. “We have an ambitious scientific and clinical vision to create transformative cell therapies at SQZ, and we believe our alliance with Roche will yield novel therapeutics for cancer
patients.” 
 Under the collaboration, SQZ may receive up to $125 million in upfront payment and near-term milestones. SQZ could earn up to
$250 million in clinical, regulatory and sales milestones per product that emerges from the collaboration. In addition, SQZ may receive development milestone payments of over $1 billion. Within the collaboration, SQZ and Roche could share
commercial rights for certain approved products. 
 SQZ APCs leverage native immune functions to spark target-specific killer (CDS) T cell responses in
vivo. Through effective presentation of antigens on MHC-1, SQZ APCs can directly stimulate CDS T cell activity and potentially drive powerful anti-tumor effects that address antigens inaccessible by other
adoptive cell-based cancer immune therapy strategies. In addition to their broad targeting potential, the SQZ APC engineering and manufacturing process requires no cellular expansion or genetic modification by viruses or editing agents, thereby
dramatically improving the anticipated safety profile, cutting production time, and cost. 
 The companies will expand the 2015 Roche collaboration to
jointly develop therapeutics derived from peripheral blood mononuclear cells (PBMCs). 
 Howard Bernstein, MD, PhD, Chief Scientific Officer of SQZ,
commented “By creating a PBMC APC platform, this collaboration allows for a SQZ APC product engine that could potentially generate products with more potent immunologic responses through a simplified, more efficient manufacturing process.”

  
 [***] Certain information in this document has been excluded pursuant to Regulation
S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

 About SQZ APCs 

Antigen presenting cells (APCs), are cells that present antigen on their surface through major histocompatibility complexes (MHCs). APCs are primarily
responsible for activating endogenous T cell responses and play a critical role in physiological responses against viruses and tumors. SQZ technology can uniquely access APC biology to engineer effective loading of their MHCs with tumor antigens.
When SQZ APCs are injected into an animal, their MHC presented antigens induce powerful, specific CDS T cell (i.e. killer T cell) responses against the antigen of interest. These CDS T cells can subsequently drive a strong killing effect against any
cell expressing the target antigen. SQZ APCs thus provide a promising platform to drive patient CDS T cell responses against any tumor target of interest for implementation in a wide range of oncology indications. 

About SQZ Biotech 
 SQZ Biotechnologies is a
Massachusetts-based, privately held company developing cellular therapies for multiple therapeutic areas using their proprietary cell therapy platform. SQZ enables robust, scalable delivery of materials to direct natural cell functions with minimal
impact on cell health and is being used to develop a new generation of therapies. The first applications for the company leverage SQZ’s ability to modulate target-specific immune responses, both in activation for the treatment of solid tumors,
and immune suppression for the treatment of auto-immune diseases. For more information please visit www.sqzbiotech.com. 
 All trademarks used or
mentioned in this release are protected by law. 
 SQZ Contact: 

Rebecca Cohen 
 Senior Manager, Corporate Relations 

rebecca.cohen@sqzbiotech.com 
 617-758-8672 ext. 728 
 SQZ Media Contact: 

Nancie Steinberg 
 Burns McClellan 

nsteinbergrimai@burnsmc.com 
 212-213-0006 ext. 318 
  

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would
likely cause competitive harm to the registrant if publicly disclosed.

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