Document:

Exhibit

Exhibit 10.1

ENBRIDGE INC.
DIRECTORS’ COMPENSATION PLAN 
February 11, 2020
Amended, Effective June 1, 2020

Effective January 1, 2020, and amendment effective June 1, 2020

ENBRIDGE INC.
DIRECTORS’ COMPENSATION PLAN
		
	1.
	DEFINED TERMS

As used herein, the following terms shall have the following meanings, respectively:
“Beneficiary” means any person(s) designated by a Director as indicated on the Designation of Beneficiary Form, to receive any cash amount or Shares under this Plan in the event of the Director’s death;  
“Board” means the Board of Directors of the Corporation;
“Bonus Retainer” means a direct grant of DSUs to a Director in addition to such Director’s regular retainer.
“Canadian Election Form” means the election form required to be submitted by the Canadian Taxpayers to the Corporation;
“Canadian Taxpayer” means a Director whose income is subject to Canadian federal income taxation;
“Code” means the U.S. Internal Revenue Code of 1986, as amended;
“Comparator Group” has the meaning set forth in Section 4;
“Compensation” has the meaning set forth in Section 7;
“Corporation” means Enbridge Inc., and includes any successor corporation thereto;
“Deferred Stock Unit Account” has the meaning set forth in Subsection 9(a);
“Deferred Stock Units” or “DSUs” mean units credited to a Director in accordance with Subsection 9(b);
“Designation of Beneficiary Form” means the form attached hereto as Appendix “B”;
“Director” means a director of the Corporation;
“DRS” means the Direct Registration System;
“Dual-Taxed Member” means a Director that is both a U.S. Taxpayer and a Canadian Taxpayer;
“Estate” means the estate of a deceased Director;
“Governance Committee” means the Governance Committee of the Board;

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“Market Value”, as of a particular day, means the weighted average of the trading price for one (1) Share on The Toronto Stock Exchange for the five (5) Trading Days immediately preceding that day;
“Payment Date” means the date on which Directors would normally receive payments of Compensation;
“Plan” means this Directors’ Compensation Plan effective January 1, 2018, as the same may be amended or varied from time to time;
“Retirement Date”, in respect of a Director, means the effective date on which the Director ceases to be a Director, for any reason whatsoever; 
“Share” means a common share of the Corporation;
“Trading Day” means any day, other than a Saturday or Sunday, on which The Toronto Stock Exchange is open for trading;
“Trustee” means the trustee engaged by the Corporation for purposes of facilitating the payment of Share-based Compensation in accordance with Section 8.
“U.S. Election Form” means the election form required to be submitted by U.S. Taxpayers to the Corporation; and 
“U.S. Taxpayer” means a Director whose income is subject to U.S. federal income taxation.
		
	2.
	PURPOSE AND OBJECTIVES

		
	(a)
	The purpose of this Plan is to provide a compensation system for Directors. This Plan applies only to the members of the Board and does not apply to board members of affiliate organizations or employees of the Corporation or any of its subsidiaries.

		
	(b)
	The objectives of this Plan are: 

		
	(i)
	to compensate Directors commensurate with the risks, responsibilities and time commitments assumed by Board members;

		
	(ii)
	to attract and retain the services of the most qualified individuals to serve on the Board;

		
	(iii)
	to align the interests of Directors with the Corporation’s shareholders;

		
	(iv)
	to provide competitive levels of compensation by considering various pay components typically provided to directors; and

		
	(v)
	to deliver such compensation in a tax effective manner. 

		
	(c)
	The Board provides oversight and stewardship over this Plan through the Governance Committee and has overall responsibility for determining the philosophical framework of the Directors’ compensation program.

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	3.
	ADMINISTRATION

The Governance Committee will administer this Plan in its discretion.  The Governance Committee shall have the power to interpret the provisions of this Plan and to make regulations and formulate administrative provisions for its implementation, and to make such changes in the regulations and administrative provisions as, from time to time, the Governance Committee deems proper and in the best interests of the Corporation.  Such regulations and provisions may include the delegation to any Director(s) or any officer(s) of the Corporation of such administrative duties and powers of the Governance Committee as it may see fit.  
		
	4.
	EXTERNAL BENCHMARKING

		
	(a)
	The Board supports maintaining a level of compensation for Directors that is competitive with compensation levels paid to directors of comparable public corporations; reflects the risks accompanying Board membership and the time commitments and responsibilities required of Directors, committee members and Board or Committee Chairs; and reflects the size and complexity of the Corporation’s business.

		
	(b)
	The Governance Committee will, from time to time, with the assistance of qualified external experts in the area of compensation benchmarking, review and determine the appropriate comparable public corporations against which comparisons are made (the “Comparator Group”) with the intention that such Comparator Group be consistent with the periodic evaluation of executive management compensation.

		
	(c)
	To the extent possible and appropriate, the Governance Committee shall align the Comparator Group with the group used to benchmark executive management compensation practices as approved by the Human Resources & Compensation Committee (refer to Enbridge Inc. senior management compensation policy Compensation Comparators).

		
	5.
	COMMUNICATION

The Board recognizes that Compensation is an important component of corporate governance and is committed to ensuring that the material terms of the compensation program are properly disclosed to shareholders and regulators.
		
	6.
	APPLICATION

This Plan applies to each individual while serving as a Director and, subject to Subsections 10(c), (d), (e), (f) and 11(a) (ii) and (iii), (c), (d) and (e), shall cease to apply on the Director’s Retirement Date.

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	7.
	DIRECTORS’ COMPENSATION

		
	(a)
	General

The Board, on the recommendation of the Governance Committee, shall determine from time to time the amount of compensation to be paid to Directors (the “Compensation”) including, without limitation, amounts in respect of retainers (including the retainer for the Chair of the Corporation and Chairs of committees of the Board), Board meeting and committee meeting attendance fees, and any other amounts which the Board in its discretion considers to be appropriate. In addition, the Board shall determine the amount of expenses, if any, for which the Directors will be reimbursed. 
		
	(a)
	Fee Structure and Payment Particulars

		
	(i)
	Compensation will be made on the basis of a flat fee structure that incorporates all Board, committee, and Chair retainers as determined by the Board. The Board’s policy is to target flat fee levels at the 50th percentile of total compensation levels paid to directors of the Comparator Group (as defined in Section 4).

		
	(ii)
	As of January 1, 2020, Compensation shall be as set out in Appendix “A”.  Changes to Appendix “A” may be made by the Board following a recommendation of or consultation with the Governance Committee.  Upon any such change being approved by the Board, a new Appendix “A” incorporating the changes and effective as of the date established by the Board shall be attached to the Plan and become Appendix “A” for all purposes of the Plan.

		
	(iii)
	Compensation is paid quarterly, in arrears.  All Directors, regardless of country of residency, shall be paid in US dollars.

		
	(iv)
	A percentage of the Compensation may be withheld in cases where a Director’s attendance at Board meetings or Committee meetings or both, falls below the established minimum. The Governance Committee will review the continuation of the Director on the Board if an inordinate number of meetings are missed. 

		
	(v)
	At any time, the Board, on the recommendation of the Governance Committee, may grant to Directors a Bonus Retainer in the form of a direct grant of DSUs. For U.S. Taxpayers only, DSUs comprising a Bonus Retainer shall be payable on December 31 of the year following the year of the Director’s Retirement Date and no U.S. Taxpayer shall be permitted to elect the form or timing of payment of any portion of a Bonus Retainer.

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	(b)
	Forms of Payment

The Board, on the recommendation of the Governance Committee, shall determine the portion(s), if any, of the Compensation that a Director may elect to receive by way of cash, Shares or Deferred Stock Units. Until revised by the Board, each Director and Chair of the Board will, subject to requirements of minimum share ownership criteria, as set out in Appendix “A”, elect to receive Compensation as cash, Shares or Deferred Stock Units, in whole or in part, in increments of 5% (totalling 100% of the Compensation payable to such Director).
		
	8.
	COMPENSATION - SHARES  

		
	(a)
	In respect of any amount of Compensation payable to a Director in Shares, funds sufficient for the purchase in the open market of such Shares shall be paid to the Trustee by the Corporation in trust for such Director from time to time, and shall be applied by the Trustee to the purchase of Shares, in the open market on a stock exchange, for that Director.  

		
	(b)
	The Shares to which a Director becomes entitled hereunder shall be calculated on the basis of the Market Value thereof two (2) weeks prior to the Payment Date.  

		
	(c)
	The Trustee shall cause such Shares to be registered in the name of the Director and held in electronic book-entry form through the DRS.    

		
	(d)
	The Trustee shall cause the transfer agent to provide (i) a Direct Registration (DRS) Advice to each Director promptly after each purchase of Shares on such Director’s behalf, which will set out the number of Shares so purchased and the aggregate number of Shares held by such Director in the DRS, and (ii) a Direct Registration (DRS) Statement to each such Director annually.  In addition, the Trustee shall promptly provide any other information required by the Director for tax reporting purposes.  

		
	9.
	COMPENSATION - DEFERRED STOCK UNITS

		
	(a)
	Deferred Stock Unit Account

An account, to be known as a “Deferred Stock Unit Account”, shall be maintained by the Corporation for each Director and will show the number of Deferred Stock Units credited to a Director, to four (4) decimal places, from time to time.
		
	(b)
	Crediting Deferred Stock Unit Account

In respect of any amount of Compensation payable to a Director in Deferred Stock Units, the number of Deferred Stock Units to be credited to that Director will be calculated by dividing the dollar amount of the quarterly Compensation payable to that Director in Deferred Stock Units on the Payment Date by the Market Value two (2) weeks prior to such date.

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	(c)
	Additional Deferred Stock Units From Dividends On Shares

In addition to Subsection 9(b), whenever any cash dividend or other cash distribution is paid on the Shares, additional Deferred Stock Units will be credited to the Director’s Deferred Stock Unit Account.  The number of such additional Deferred Stock Units will be calculated by dividing the aggregate dividends that would have been paid to such Director if the Deferred Stock Units in the Director’s Deferred Stock Unit Account had been Shares, by the Market Value of a Share on the date on which the dividends are paid on the Shares, less the amount of any discount then in effect for the reinvestment of dividends under the Corporation’s Dividend Reinvestment and Share Purchase Plan.
		
	10.
	CANADIAN TAXPAYER - DEFERRED STOCK UNITS

This Section 10 only applies to Canadian Taxpayers:
		
	(a)
	Choice of Compensation Mix

		
	(i)
	The Directors shall elect on or before December 31 of the preceding year in which Compensation will be earned, the portion of such Compensation, excluding any Bonus Retainer, to be received by the Director in cash, Shares or Deferred Stock Units in respect of that calendar year, and, failing such election, the Director shall, subject to any minimum amounts of cash, Shares or Deferred Stock Units as set out in Appendix “A”, be deemed to have elected 100% in cash. 

		
	(ii)
	Where a Director joins the Board after January 1 in any year, such Director shall make his or her compensation mix election within thirty (30) days of his or her election or appointment to the Board. 

		
	(iii)
	In all cases, the Directors’ elections shall be irrevocable and shall remain in force from the date of such election until the date of the next election. 

		
	(b)
	Canadian Election Form

Each Director shall fill out a Canadian Election Form indicating their elected compensation mix and deliver such Canadian Election Form to the Corporation on the dates set out above. 
		
	(c)
	Elected Payment Date – Canadian Taxpayer

Except as provided in Subsection 10(e), the determined value of the Deferred Stock Units credited to the Deferred Stock Unit Account of a Director whose income is subject to Canadian income tax, net of required withholdings, shall be paid to that Director on a date to be agreed upon by that Director and the Corporation, provided that the payment date must be a date subsequent to the Retirement Date and may be no later than December 31 of the first calendar year commencing after that Retirement Date.

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	(d)
	No Election Default

If no such payment date agreement is reached, pursuant to Subsection 10(c), the payment date will be December 31 of the first calendar year commencing after that Director’s Retirement Date.  
		
	(e)
	Payment on Death of a Canadian Taxpayer

		
	(i)
	When a Director dies, the value of the Deferred Stock Units credited to that Director’s Deferred Stock Unit Account, net of applicable withholdings, shall be paid to his or her Beneficiary as soon as practicable after the Director’s death, provided that the payment shall be made no later than December 31 of the first calendar year commencing after that Director’s Retirement Date.

		
	(ii)
	Notwithstanding the above, if the Beneficiary of the deceased Director has not been determined within sixty (60) days after the Director’s death, the Corporation shall make such payment to the Estate.

		
	(f)
	Determining Value for Canadian Taxpayers 

To determine the value of Deferred Stock Units for the purposes of a payment to a Director (or, where the Director has died, his or her Beneficiary or Estate, as the case may be) under Subsections 10(c), (d) or (e), a Deferred Stock Unit will be valued equal to the Market Value multiplied by the number of Deferred Stock Units (including fractional Units) credited to a Director’s Deferred Stock Unit Account on the following basis:
		
	(i)
	for Subsections 10 (c) and (d), the Market Value on the third (3rd) Trading Day before the elected payment date; and

		
	(ii)
	for Subsection 10(e), the Market Value on the next Trading Day after the Director’s death.  

		
	(g)
	Effect of Reorganization of the Corporation for Canadian Taxpayers

In the event of any merger, consolidation or other reorganization of the Corporation in which the Corporation is not the surviving or continuing corporation, all Deferred Stock Units granted hereunder and outstanding on the date of such reorganization shall be assumed by the surviving or continuing corporation.  If, in the event of any such merger, consolidation or other reorganization, provision for such assumption satisfactory to an owner of a Deferred Stock Unit granted under this Plan is not made by the surviving or continuing corporation, such owner shall have distributed to him or her within sixty (60) days after the reorganization, in full satisfaction, cash in payment of the Market Value on the Trading Day immediately preceding the day of such reorganization. 

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	11.
	US TAXPAYER- DEFERRED STOCK UNITS

This Section 11 only applies to U.S. Taxpayers:
(a)    Choice of Compensation Mix and Election Payment Date
Directors shall elect on or before December 31 of the calendar year immediately preceding the calendar year in which Compensation will be earned:
		
	(i)
	the portion of such Compensation, excluding any Bonus Retainer, to be received by those Directors in cash, Shares or Deferred Stock Units in respect of that calendar year. If no election is made the Director shall, subject to any minimum amounts of cash, Shares or Deferred Stock Units as set out in Appendix “A”, be deemed to have elected 100% in cash;

		
	(ii)
	the date, to be agreed upon by each of the Directors and the Corporation for payment of such Director’s Deferred Stock Unit Account where such date may be any date after that Director’s Retirement Date, provided that the payment date is after that Retirement Date and no later than December 31 of the first calendar year commencing after that Retirement Date. If no such payment date is determined, the Corporation, at its sole discretion, shall pay the amount owing from Director’s Deferred Stock Unit Account within ninety (90) days following that Director’s Retirement Date; 

		
	(iii)
	where a Director joins the Board after January 1 in any year, such Director shall make his or her election for both compensation mix and payment date within thirty (30) days of his or her election or appointment to the Board; and 

		
	(iv)
	in all cases, the Directors’ elections shall be irrevocable and shall remain in force from the date of such election until the Director’s Retirement Date.

		
	(a)
	U.S. Election Form

Each Director shall fill out a U.S. Election Form indicating their elected compensation mix and payment date of their Deferred Stock Unit Account and deliver such U.S. Election Form to the Corporation. Such form shall be irrevocable. 
		
	(b)
	Specified Employee 

Notwithstanding Subsection 11 (a), if the payment of a Director’s Deferred Stock Unit Account would be subject to taxation or penalties under Code Section 409A because the timing of such payment is not delayed as provided in Section 409A for a “specified employee,” then if the Director is (1) a U.S. Taxpayer and (2) a  “specified employee” under Code Section 409A, any payment which that Director would otherwise be entitled to receive during the six (6) month period following the Director’s Retirement Date shall be delayed and paid within fifteen (15) days after the date that is six (6) months following the Director’s Retirement Date, or such earlier date upon which such amount can be paid under Code Section 409A without being subject to such taxation, such as upon that Director’s death.

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	(c)
	Payment on Death of a U.S. Taxpayer 

		
	(i)
	When a Director dies, the value of the Deferred Stock Unit Account, credited to that Director’s Deferred Stock Unit Account, net of applicable withholdings, shall be paid to his or her Beneficiary not later than by the later of (i) the end of the calendar year of the Director’s Retirement Date, or (ii) ninety (90) days following that Director’s date of death, provided that the Beneficiary shall not be permitted to designate the taxable year in which such payment is made. 

		
	(ii)
	Notwithstanding the above, if the Beneficiary of the deceased Director has not been determined within sixty (60) days after the Director’s death, the Corporation shall make such payment to the Estate.

(e)    Determining Value for U.S. Taxpayers 
To determine the value of Deferred Stock Units for the purposes of a payment to a Director (or, where the Director has died, his or her Beneficiary or Estate, as the case may be) under Subsections 11(a)(ii), (iii), (c) or (d), a Deferred Stock Unit will be valued equal to the Market Value multiplied by the number of Deferred Stock Units (including fractional Units) credited to a Director’s Deferred Stock Unit Account on the following basis:
		
	(i)
	for Subsections 11(a)(ii),(iii) and (c), the Market Value on the third (3rd) Trading Day before the elected payment date; and 

		
	(ii) 
	for Subsection 11(d), the Market Value on the next Trading Day after the Director’s death.  

		
	(a)
	Dual-Taxed Members

In the event that a Director is both a U.S. Taxpayer and a Canadian Taxpayer at the time that the Director’s Deferred Stock Units become payable, the provisions of this Section 11(f) shall apply:
		
	(i)
	If the Director has made a valid election under Section 11(a) and (b) with regard to payment of the Director’s Deferred Stock Units, payment of such Director’s Deferred Stock Unit Account shall be made in accordance such election, subject to Section 11(c).

		
	(ii)
	If the Director has not made a valid election under Section 11(a) and (b) with regard to payment of the Director’s Deferred Stock Units, payment of such Director’s Deferred Stock Unit Account shall be made as of a date determined by the Corporation in its discretion, with such payment date to be within ninety (90) days following the Director’s Retirement Date, subject to the following:

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	a.
	If the ninety (90) day period begins in one calendar year and ends in the following calendar year, the payment date within such 90-day period shall be determined in the sole discretion of the Corporation, and the Director shall not be permitted to make a payment election under Section 10(c) and (d) of the Plan that applies for a Canadian Taxpayer; or

		
	b.
	If the ninety (90) day period begins and ends in the same calendar year, the Director shall be permitted to make a payment election under Section 10(c) and (d) of the Plan, but the payment date elected by the Director must fall within the 90-day period following the Director’s Retirement Date.

(g)    Code Section 409A Compliance
With respect to any Director who is a U.S. Taxpayer, the Corporation intends that this Plan shall comply with the applicable provisions of Code Section 409A, or an exemption from the application of Code Section 409A, in order to prevent the inclusion in the gross income of such Director of any deferred amount in a taxable year that is prior to the taxable year in which such amount would otherwise be distributed or made available to such Director under the terms of this Plan.  This Plan shall be construed, interpreted and administered in a manner consistent with such intent.  In furtherance of this intent, to the extent that any term of this Plan is ambiguous, such term shall be interpreted to comply with Code Section 409A, or an exemption from the application of Code Section 409A, as determined by the Corporation.
		
	(h)
	Effect of Reorganization of the Corporation for U.S. Taxpayers and Dual-Taxed Members

In the event of any merger, consolidation or other reorganization of the Corporation where the surviving or continuing corporation does not assume all of the Director’s Deferred Stock Units that are outstanding on the date of such reorganization, and such event constitutes a “change in control” of the Corporation within the meaning of Code Section 409A, then the surviving or continuing corporation shall distribute to the Director, within sixty (60) days after the closing date of such event, in complete satisfaction of all the rights of the Director under this Plan, cash in full payment of the Market Value of the Director’s Deferred Stock Units as valued as of the Trading Day immediately preceding the closing date of such event. In the event that the Director is a Dual-Taxed Member, this Section 11(h) shall apply and Section 10(g) shall be inapplicable. 
		
	12.
	BROKERAGE COMMISSIONS

All brokerage commissions and other transaction costs in respect of Share purchases made under Section 8 of this Plan shall be paid by the Corporation.

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	13.
	TAXES AND REPORTING

		
	(a)
	The Corporation shall deduct from all amounts otherwise payable to a Director (or Beneficiary or Estate, as the case may be) all amounts, including applicable taxes, that are required by law to be withheld with respect to amount otherwise payable. 

		
	(b)
	Notwithstanding anything else contained herein, each Director who participates in this Plan shall be responsible for:

		
	(i)
	the payment of all applicable taxes including, but not limited to, income taxes payable in connection with the acquisition, holding and delivery of Shares for or to a Director pursuant to this Plan and the payment of the value of the Deferred Stock Units, subject to deduction and remittance by the Corporation of applicable withholding taxes; and

		
	(ii)
	compliance with the continuous disclosure requirements of the applicable securities commissions or similar regulatory authorities in Canada and those exchanges upon which the Corporation’s Shares are traded, including, but not limited to, the preparation and filing of insider trading reports respecting the acquisition of Shares pursuant to this Plan, 

and the Corporation, its employees and agents shall bear no liability in connection with the payment of such taxes or the compliance with such disclosure requirements.
		
	14.
	DILUTION ADJUSTMENTS

In the event that the outstanding Shares of the Corporation shall be increased or decreased, or changed into, or exchanged for a different number or kind of shares or other securities of the Corporation or another corporation, whether through a stock dividend, stock split, consolidation, recapitalization, amalgamation, reorganization, arrangement or other transaction, the Governance Committee or the Board may make appropriate adjustments to the number or kind of shares or securities upon which Deferred Stock Units are based under this Plan, and as regards Deferred Stock Units previously granted or to be granted pursuant to this Plan, in the number or kind of shares or securities upon which Deferred Stock Units are based and the purchase price therefor.
		
	15.
	OPERATION OF RIGHTS PLAN

The appropriate adjustments in the number of Deferred Stock Units may be made by the Board in its discretion in order to give effect to the adjustments in the number of Shares of the Corporation resulting from the implementation and operation of the Shareholder Rights Plan Agreement originally dated as of November 9, 1995 and as amended from time to time.

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	16.
	AMENDMENTS, ETC.

Subject to applicable regulatory approval, the Board may revise, suspend or discontinue this Plan in whole or in part.  No such revision, suspension, or discontinuance shall alter or impair the rights of a Director in respect of Deferred Stock Units or Shares previously granted or received under this Plan, without the consent of that Director.  
		
	17.
	PERIODIC REVIEW

The compensation available, and competitiveness of this Plan relative to the Comparator Group, will be reviewed:
		
	(a)
	by external consultants every second year, commencing in 2015; and 

		
	(b)
	by internal management every second year, commencing in 2014.  

		
	18.
	EFFECTIVE DATE

This Plan is effective as of January 1, 2020, and may be amended from time to time.  Commencing January 1, 2020, no new Shares or Deferred Stock Units shall be granted or received under any previous “Directors’ Compensation Plan” for Enbridge Inc.  Any Shares or Deferred Stock Units previously granted or received under such previous compensation plans shall continue without alteration, including any previous elected payment date made by a Director, or impairment of the rights of a Director with respect to such Compensation.

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APPENDIX “A”
to the Directors’ Compensation Plan
Retainer and Fees
		
	1.
	Flat Fee Schedule

The following table establishes the annual fee schedule for Directors and is effective as of June 1, 2020.
	
								
	 
	Elective Payment Form1

	

 
Compensation Elements
	

 
Annual Fee2
	Before minimum share ownership
	After minimum share ownership

	

Cash
	

Shares
	

DSUs
	 
 
Cash
	 

Shares
	

DSUs

	Board Retainer
	$242,250
	

Up to 50%
	

Up to 50%
	

50% to 100%
	

Up to 65%
	

Up to 65%
	

35% to 100%

	Additional Board Chair Retainer
	$225,250

	Additional Committee Chair Retainer:
AFRC
HRCC
S&R
GC 
CSR
	

$25,000
$20,000
$15,000
$15,000
$15,000

 
1.    Directors may elect the form of payment in increments of 5% up to the percentage amounts specified in the table.
		
	2.
	All fees in U.S. dollars.

		
	2.
	Penalty for Non-Attendance

At the end of each year, the Governance Committee will review the record of attendance of Directors at Committee meetings and Board meetings.  The Chair of the Governance Committee along with the Board Chair, at their discretion, will recommend to the Board appropriate penalties for non-attendance by Directors at Committee and Board meetings.
		
	3.
	Travel Fees

A per diem allowance of $1,500 U.S. shall be paid in cash to Directors who travel from their home state or province to a meeting in another state or province.

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	4.
	Share Ownership Requirement

Effective January 1, 2016, Directors shall hold a personal investment in Shares and Deferred Stock Units of at least three (3) times the amount of the annual Board Retainer, expressed in Canadian currency and be required to achieve such investment within five (5) years of joining the Board.

_______________________
 
1U.S. Currency for those Directors paid in U.S. funds.

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APPENDIX “B”
to the Directors’ Compensation Plan
DESIGNATION OF BENEFICIARY FORM

I, _____________________________________ (Director’s Name) for the purposes of

designating a Beneficiary pursuant to the Directors’ Compensation Plan of Enbridge Inc. 

hereby designate _______________________ (insert name of Beneficiary (ies)) as my

Beneficiary of the Compensation owed to me by the Corporation.
 

At my own discretion, I make an additional designation should my Beneficiary not survive me. 

I designate as my contingent Beneficiary _________________________________ (insert 

name of contingent Beneficiary) of the Compensation owed to me by the Corporation. 

I make this designation on the _____ day of _______, 20____.

________________________
Signature

    
________________________
Print Name    

Instructions:
This Designation of Beneficiary Form should be completed, signed and delivered to Enbridge Inc. as soon as possible once you have been appointed to the Board of the Corporation. Any changes to the above will require the delivery of an amended form.  

In the event that you would like to name a contingent beneficiary, should your primary beneficiary not survive you, please indicate above, a contingent beneficiary.

For questions regarding your Plan or Form, please call Karen Uehara at (587)955-2986.  For delivery to Enbridge Inc., please fax your Form to (403) 231-5929.

16Document

EXECUTION VERSION

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT BOTH (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. SUCH EXCLUDED INFORMATION HAS BEEN MARKED WITH “[*]”.

AMENDMENT NO. 2
TO THE
COLLABORATION AGREEMENT AND RELEASE

This Amendment No. 2 to the Collaboration Agreement and Release (this “Amendment”) is entered into as of the 2nd day of May, 2016 (the “Amendment Effective Date”) by and between Amgen Inc., a Delaware corporation with a place of business at One Amgen Center Drive, Thousand Oaks, California 91320 (“Amgen”), and AstraZeneca Collaboration Ventures, LLC, a Delaware limited liability company with a place of business at 1800 Concord Pike, Wilmington, Delaware 19850 (“AstraZeneca” or “Partner”).  Amgen and AstraZeneca are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.  AstraZeneca Pharmaceuticals LP, the parent corporation of Partner (“AZ Parent”), pursuant to Section 15.16 (AstraZeneca Guarantee) of the Agreement (as defined below) is a party to this Amendment as guarantor of Partner’s obligations under the Agreement.

WHEREAS, Amgen and Partner entered into that certain Collaboration Agreement, dated as of March 30, 2012, as amended by Amendment No.1 to the Collaboration Agreement, dated October 1, 2014 (collectively, the “Agreement”); 

WHEREAS, the Parties have been having discussions and disagreements on the various post-termination financial rights and obligations of the Parties related to Brodalumab (AMG-827), a Terminated Product that was terminated pursuant to the termination notice Amgen delivered to AstraZeneca on May 22, 2015, with such termination becoming effective on August 26, 2015 (the “Termination Effective Date”);

WHEREAS, each of Amgen and AstraZeneca desire to resolve their disagreements related to the post-Termination Effective Date financial rights and obligations of the Parties for Brodalumab (AMG-827) by further amending certain portions of the Agreement and releasing each other with respect to any existing and potential claims with respect thereto;

NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties agree to amend the Agreement as follows.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
ARTICLE 1 - AMENDMENT

1.1 Amendment related to Brodalumab (AMG-827).  The Parties hereby agree that following the Amendment Effective Date, as it relates to the post-Termination Effective Date financial payment rights of Amgen (and the corresponding obligations of AstraZeneca) as set forth in Section 14.6.1.6 of the Agreement:
Amgen ref. no. 2012575259-007  1

EXECUTION VERSION

1.1.1 AstraZeneca (as the Continuing Party) shall hereby buyout and purchase Amgen (as the Terminating Party) out of its post-Termination Effective Date financial payment rights related to Brodalumab (AMG-827) under the Agreement.
1.1.2 Section 14.6.1.6 shall not apply to Brodalumab (AMG-827), retroactive to the Termination Effective Date.
1.1.3 Amgen’s post Termination Effective Date financial payment rights under the Agreement (and AstraZeneca’s corresponding obligations thereunder) related to Brodalumab (AMG-827) as of the Termination Effective Date shall solely consist of being entitled to receive, and AstraZeneca shall pay to Amgen:
1.1.3.1 [*] within ten (10) days of the Amendment Effective Date.
1.1.3.2 [*] within sixty (60) days of receipt of Regulatory Approval for Brodalumab (AMG-827) for psoriasis, which, for the avoidance of doubt, shall only be paid once.
1.1.3.3 Royalties on Net Revenues from the sales of Brodalumab (AMG-827) in the Collaboration Territory by or on behalf of AstraZeneca, its Affiliates or sublicensees, with such royalty payment obligation of AstraZeneca consisting of and limited to (a) [*] royalty as the Inventorship Margin for Brodalumab (AMG-827) as set forth in the Agreement, (b) an additional [*] royalty payable, on a country-by-country basis, only until the tenth (10th) anniversary of first commercial sale in the applicable country.  Such royalties will be payable quarterly within thirty (30) days of the end of the applicable calendar quarter for which such royalties are owed.  Each royalty payment will be accompanied by a report setting forth AstraZeneca’s (or its sublicensees’) calculation of Net Revenues and royalties owed for the applicable quarter.  For such purposes, “Net Revenues” and “Inventorship Margin” shall have the meaning ascribed to them in the Agreement but for such purposes substituting in such definitions (including in each definition referenced in such definitions) a reference to “Terminated Product”, in this case, Brodalumab (AMG-827), for each reference to “Product;” and Sections 7.4 (Calculation of Net Revenues) and 8.3 (Currency) through 8.7 (Late Payment) (inclusive) will apply with respect to such royalty payments, mutatis mutandis. 
1.2 Other Products.  The Parties hereby agree that, other than with respect to Brodalumab (AMG-827), in the event that a Party and/or any of its Affiliates (as the Continuing Party of a Terminated Product) enters into a transaction, series of transactions or other arrangements in which a Third Party obtains a license (or sublicense) of the Product Intellectual Property (or any option or other right to obtain a license of the Product Intellectual Property) (a “Third Party Arrangement”), then if such Party and/or any of its Affiliates (as the Continuing Party) is entitled to receive:
Amgen ref. no. 2012575259-007  2

EXECUTION VERSION

1.2.1 a profit share associated with the Exploitation of a Terminated Product, then the Continuing Party’s share of profit shall be treated as “Sublicensing Revenue” under the Agreement; provided, that the Continuing Party shall be entitled to deduct and recoup its Development Costs and General Costs incurred prior to entering into any such Third Party Arrangement, as applicable, from such profit share before it is required to remit a share of such profit as Sublicensing Revenue to the Terminating Party.a profit/loss share associated with the Exploitation of a Terminated Product rather than just a profit share, then instead of the Continuing Party’s share of profit being deemed Sublicensing Revenue, the Continuing Party shall instead be obligated to pay to the Terminating Party the tiered royalty set forth in the table in Section 14.6.1.6 of the Agreement on Terminated Product Net Revenues regardless of whether such Terminated Product Net Revenues were for Terminated Products sold by or on behalf of such Continuing Party or the applicable Third Party; provided, that the Continuing Party shall not be obligated to pay such tiered royalty to the Terminating Party until the first calendar quarter after the first calendar quarter in which the Net Revenues exceeds Development Costs and General Costs for such calendar quarter.  
1.2.2 Nothing in this Section 1.2 shall affect nor modify any other payments that may be owed from the Continuing Party to the Terminating Party.  
ARTICLE 2 - RELEASE
2.1 Except as set forth in Section 1.1 or in any stand-alone transition services undertakings between the Parties related to Brodalumab (AMG-827) (including that certain Transition Services Agreement by and between Amgen and Partner dated as of August 28, 2015, no other payment rights of Amgen or payment obligations of AstraZeneca shall be deemed to exist or survive following the Amendment Effective Date related to Brodalumab (AMG-827); provided that, for clarity, nothing herein shall limit, modify or amend AstraZeneca’s indemnification obligations under the Agreement with respect to Brodalumab (AMG-827).
2.2 The Parties, on behalf of themselves, their respective parents, subsidiaries and affiliates, and their respective employees, officers, directors, shareholders, agents, attorneys, predecessors, successors, assigns and other representatives and servants, (a) hereby release and forever discharge each other and each other’s parents, subsidiaries, affiliates, licensees, sublicensees, contractors, subcontractors and customers, and their respective employees, officers, directors, shareholders, agents, attorneys, predecessors, successors, assigns and other representatives and servants, from any and all actions, causes of action, suits, charges, complaints, arbitrations, claims, judgments, demands, obligations or liabilities, damages, rights, costs, loans, debts and expenses (including attorneys’ fees and expenses), in law or equity, whether now known or unknown, suspected or unsuspected, asserted or unasserted, determined or determinable, arising out of or in any way related to any post Termination Effective Date financial rights or obligations each Party may have been entitled to under Section 14.6.1.6 of the Agreement related to Brodalumab (AMG-827) after the Termination Effective Date and (b) hereby agree not to assert any such released claims herein against the other Party, or any of its Affiliates or any of its or their respective parents, subsidiaries, affiliates, licensees, sublicensees, contractors and subcontractors, and their respective employees, officers, directors, shareholders, agents, 
Amgen ref. no. 2012575259-007  3

EXECUTION VERSION

attorneys, predecessors, successors, assigns and other representatives and servants.  Nothing herein shall release a Party from its obligation to perform the terms or conditions of this Amendment.  The releases in this Section shall be immediately and irrevocably effective as of the Amendment Effective Date.  
2.3 This Amendment constitutes a compromise of disputed claims.  This Amendment and all negotiations, statements, and proceedings in connection therewith are not, will not be argued to be, and will not be deemed to be, a presumption, a concession, or an admission by either Party of any fault, liability, or wrongdoing, or lack thereof, as to any fact or claim alleged or asserted, and will not be interpreted, construed, deemed, invoked, offered, or received in evidence, deemed to have any precedential value or otherwise used by any Party or Person in any actions or proceedings, whether civil, criminal, or administrative, except in a proceeding to enforce the terms or conditions of this Amendment.
2.4 In furtherance of their express intent to fully, forever and irrevocably release and discharge each other from all actions, causes of action, suits, charges, complaints, arbitrations, claims, judgments, demands, obligations or liabilities, damages, rights, costs, loans, debts and expenses (including attorneys’ fees and expenses) arising out of or in any way related to any post-Termination Effective Date financial rights or obligations each Party may have been entitled to under Section 14.6.1.6 of the Agreement related to Brodalumab (AMG-827) after the Termination Effective Date, known and unknown, from the beginning of time until the end of time, the Parties expressly waive any and all rights they may have under any statute, code, ordinance or the common law, which may limit or restrict the effect of a general release with respect to the claims that the Parties do not know or suspect to exist in their favor at the time of the execution of this release, including, to the extent deemed applicable, any and all rights under California Civil Code Section 1542, which provides as follows: 
“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her, must have materially affected his or her settlement with the debtor.”
The Parties hereby waive any applicability of Section 1542 of the California Civil Code to the releases contained herein.  The Parties similarly waive with respect to the releases contained herein any and all rights and benefits conferred by any statute, regulation, or principle of common law or civil law of the United States, of any state, commonwealth, territory, or other jurisdiction thereof, or of any foreign country or other foreign jurisdiction that is similar, comparable or equivalent to Section 1542 of the California Civil Code.  This Amendment is a full and complete release of the matters released herein, regardless of whether those matters are presently known, unknown, foreseen or unforeseen.
ARTICLE 3 – REFERENCE TO AND EFFECT ON THE AGREEMENT
3.1 Reference to Agreement.  Upon and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified and amended hereby.
Amgen ref. no. 2012575259-007  4

EXECUTION VERSION

3.2 Effectiveness of Amendment.  Upon execution and delivery of this Amendment by both Parties, the amendments set forth above shall be effective as of the Amendment Effective Date.  Except as specifically amended above, the Agreement is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Parties.
ARTICLE 4 – MISCELLANEOUS
4.1 Choice of Law; Jurisdiction.  This Amendment will be governed by, and enforced and construed in accordance with, the laws of the State of New York without regard to its conflicts of law provisions. Each of the Parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the state and federal courts of the State of New York for any matter arising out of or relating to this Amendment and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Amendment or the transactions contemplated hereby in the state and federal courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter will be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either Party under this Amendment will be exclusively conducted in the English language. The United Nations Convention for the International Sale of Goods will not apply to the transactions contemplated herein.
4.2 Headings.  The heading for each article and section in this Amendment has been inserted for convenience of reference only and is not intended to limit or expand on the meaning of the language contained in the particular article or section.
4.3 Counterparts.  This Amendment may be executed via electronic and pdf format signatures in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  

[Signature page follows]

Amgen ref. no. 2012575259-007  5

IN WITNESS THEREOF, duly authorized representatives of the Parties hereto have executed this Amendment as of the date first set forth above.

																		
	ASTRAZENECA COLLABORATION VENTURES, LLC				AMGEN INC.	
	By:		/s/ Steve Mohr		By:	/s/ Robert A. Bradway
	Name:		Steve Mohr		Name:	Robert A. Bradway
	Title:		Deputy General Counsel, NA & General Counsel, US & Secretary		Title:	Chairman & Chief Executive Officer
						
	ASTRAZENECA PHARMACEUTICALS LP   					
	By:	/s/ Steve Mohr				
	Name:	Steve Mohr				
	Title:	Deputy General Counsel, NA & General Counsel, US & Secretary				

Amgen ref. no. 2012575259-007  

EXECUTION VERSION

AMENDMENT NO. 3
TO THE
COLLABORATION AGREEMENT 3

This Amendment No. 3 to the Collaboration Agreement 3 (this “Amendment”) is entered into as of the 27th day of May, 2016 (the “Amendment Effective Date”) by and between Amgen Inc., a Delaware corporation with a place of business at One Amgen Center Drive, Thousand Oaks, California 91320 (“Amgen”), and AstraZeneca Collaboration Ventures, LLC, a Delaware limited liability company with a place of business at 1800 Concord Pike, Wilmington, Delaware 19850 (“AstraZeneca” or “Partner”).  Amgen and AstraZeneca are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.  AstraZeneca Pharmaceuticals LP, the parent corporation of Partner (“AZ Parent”), pursuant to Section 15.16 (AstraZeneca Guarantee) of the Agreement (as defined below) is a party to this Amendment as guarantor of Partner’s obligations under the Agreement.

WHEREAS, Amgen and Partner entered into that certain Collaboration Agreement, dated as of March 30, 2012, as amended by Amendment No.1 to the Collaboration Agreement, dated October 1, 2014 and as further amended by Amendment No.2 to the Collaboration Agreement and Release, dated May 2, 2016 (collectively, the “Agreement”); 

WHEREAS, Amgen previously suspended its participation in the development and commercialization of AMG-139/MedI-2070, the monoclonal antibody targeting IL-23 that was one of the Products under the Agreement (the “Suspended Product”), effective April, 1, 2015;

WHEREAS, in accordance with Section 7.8.2.4 of the Agreement, AstraZeneca is serving notice to Amgen (as the Suspending Party) informing Amgen that AstraZeneca (as the Non-Suspending Party) has received an offer from a third party for the exclusive right to develop and commercialize the Suspended Product worldwide; and

WHEREAS, Amgen and Partner wish to update certain portions of the Agreement.

NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties agree to amend the Agreement as follows.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
ARTICLE 1 - AMENDMENT

1.1 Amendment to Section 9.1.1.  The Parties hereby agree that, following the Amendment Effective Date, Section 9.1.1 shall be deleted in its entirety and replaced with the following:
“Partner will not, during the Term and, other than in the event of termination by Partner pursuant to Section 14.3 (Termination for Breach), for (a) three (3) years thereafter for all Products other than AMG139 and AMG181 and (b) one (1) year thereafter for AMG139 and AMG181, itself or through its Affiliates, conduct or participate in, or advise, assist or intentionally enable any Third Party to conduct 
Amgen ref. no. 2012575259-008  1

EXECUTION VERSION

to participate in, any Distracting Program anywhere in the world; provided, that MEDI-570 shall not be considered a Distracting Program or a Distracting Product for the purposes of this Agreement;”
1.2 Amendment to Section 9.1.2.  The Parties hereby agree that, following the Amendment Effective Date, Section 9.1.2 shall be deleted in its entirety and replaced with the following:
“Amgen will not, during the Term and, other than in the event of termination by Amgen pursuant to Section 14.3 (Termination for Breach), for (a) three (3) years thereafter for all Products other than AMG139 and AMG181 and (b) one (1) year thereafter for AMG139 and AMG181, itself or through its Affiliates, conduct or participate in, or advise, assist or intentionally enable any Third Party to conduct to participate in, any Distracting Program anywhere in the Collaboration Territory; and”
1.3 Amendment to Section 14.6.1.4 (Distracting Products).  The Parties hereby agree that, following the Amendment Effective Date, Section 14.6.1.4 (Distracting Product) shall be amended by deleting such Section 14.6.1.4 (Distracting Product) in its entirety.
ARTICLE 2 – REFERENCE TO AND EFFECT ON THE AGREEMENT
2.1 Reference to Agreement.  Upon and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified and amended hereby.
2.2 Effectiveness of Amendment.  Upon execution and delivery of this Amendment by both Parties, the amendments set forth above shall be effective as of the Amendment Effective Date.  Except as specifically amended above, the Agreement is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Parties.
ARTICLE 3 – MISCELLANEOUS
3.1 Choice of Law; Jurisdiction.  This Amendment will be governed by, and enforced and construed in accordance with, the laws of the State of New York without regard to its conflicts of law provisions. Each of the Parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the state and federal courts of the State of New York for any matter arising out of or relating to this Amendment and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Amendment or the transactions contemplated hereby in the state and federal courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter will be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either 
Amgen ref. no. 2012575259-008  2

EXECUTION VERSION

Party under this Amendment will be exclusively conducted in the English language. The United Nations Convention for the International Sale of Goods will not apply to the transactions contemplated herein.
3.2 Headings.  The heading for each article and section in this Amendment has been inserted for convenience of reference only and is not intended to limit or expand on the meaning of the language contained in the particular article or section.
3.3 Counterparts.  This Amendment may be executed via electronic and pdf format signatures in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  

[Signature page follows]

Amgen ref. no. 2012575259-008  3

IN WITNESS THEREOF, duly authorized representatives of the Parties hereto have executed this Amendment as of the date first set forth above.

																								
	ASTRAZENECA COLLABORATION VENTURES, LLC					AMGEN INC.		
	By:		/s/ Steve Mohr			By:	/s/ Sean E. Harper	
	Name:		Steve Mohr			Name:	Sean E. Harper	
	Title:		Secretary			Title:	EVP, Research & Development	
								
	ASTRAZENECA PHARMACEUTICALS LP   							
	By:	/s/ Steve Mohr						
	Name:	Steve Mohr						
	Title:	Deputy General Counsel, NA and General Counsel, US and Secretary						

Amgen ref. no. 2012575259-008

Execution Version

AMENDMENT NO. 4
TO THE
COLLABORATION AGREEMENT
This Amendment No.4 to the Collaboration Agreement (this “Amendment”) is entered into as of the 2nd day of October, 2016 (the “Amendment Effective Date”) by and between Amgen Inc., a Delaware corporation with a place of business at One Amgen Center Drive, Thousand Oaks, California 91320 (“Amgen”), and AstraZeneca Collaboration Ventures, LLC, a Delaware limited liability company with a place of business a 1800 Concord Pike, Wilmington. Delaware 19850 (“AstraZeneca”). Amgen and AstraZeneca are sometimes referred to herein individually as a “Party” and collectively as the “Parties”. AstraZeneca Pharmaceuticals LP, the parent corporation of AstraZeneca, pursuant to Section 15.16 (AstraZeneca Guarantee) of the Agreement (as defined below) is a party to this Amendment as guarantor of AstraZeneca’s obligations under the Agreement.
RECITALS
WHEREAS, Amgen and AstraZeneca entered into that certain Collaboration Agreement, dated as of March 30, 2012, as amended by Amendment No.1 to the Collaboration Agreement dated October 1, 2014, as further amended by Amendment No.2 to the Collaboration Agreement and Release dated May 2, 2016, and as further amended by Amendment No.3 to the Collaboration Agreement dated May 27, 2016 (collectively, the “Agreement”);
WHEREAS, pursuant to a Notice Letter dated July 29, 2016, Amgen has been deemed to be the Terminating Party under the Collaboration Agreement with respect to AMG-139/MedI-2070 (the “Terminated Product”), with the termination of such Terminated Product having become effective on July 29, 2016; and
WHEREAS, in connection with AstraZeneca’s proposed out-license of the development, manufacture and commercialization of the Terminated Product, Amgen and AstraZeneca wish to amend and update certain portions of the Agreement;
NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties agree to amend the Agreement as follows. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
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Amgen ref. no. 2012575259-010

EXECUTION VERSION

ARTICLE 1 AMENDMENTS 
1.1 Amendment to Definition of Amgen Intellectual Property.  The Parties hereby agree that, following the Amendment Effective Date, clause (ii) of the first sentence of the definition of Amgen Intellectual Property in Section 1.13 of the Agreement shall be deleted and replaced with the following: “(ii) is used during the Term by either Party or its Affiliates in the performance of this Agreement but, for clarity, is not generated or conceived during the Term by either Party or its Affiliates in the performance of this Agreement.” 
1.2 Amendment to Definition of Distracting Product.
(a) The Parties hereby agree that, following the Amendment Effective Date, the definition of Distracting Product in Section 1.48 of the Agreement shall be amended by adding at the end thereof the following: “For clarity, no Product shall be a Distracting Product.”
(b) The Parties hereby agree that, following the Amendment Effective Date, (i) the Distracting Product Schedule shall be amended by deleting the AMG 139/MedI-2070 row contained therein, including the related Product Target and Distracting Target, (ii) the words “other than AMG 139” shall be added after the words “with respect to a given Product” in the definition of “Distracting Product”, and (iii) the words “AMG 139 and” in Sections 9.1.1(b) and 9.1.2(b) shall be deleted from such provisions.
1.3 Amendment to Definition of Partner Intellectual Property.  The Parties hereby agree that, following the Amendment Effective Date, the first sentence of the definition of Partner Intellectual Property in Section 1.100 of the Agreement shall be deleted and replaced with the following: ““Partner Intellectual Property” means any Know-How, Patents, electronic media registrations (including domain names, usernames, websites, blogs and the like), or Copyright controlled by Partner and its Affiliates that is used during the Term by either Party or its Affiliates in the performance of this Agreement but, for clarity, is not generated or conceived during the Term by either Party or its Affiliates in the performance of this Agreement.”
1.4 Amendment to Terminated Product Intellectual Property Rights.
(a) The Parties hereby agree that, following the Amendment Effective Date, the phrase “grant and authorized sublicenses” in Section 14.6.1.3(i) of the Agreement shall be amended to read as follows: “grant and authorize sublicenses”.
(b) The Parties agree that AstraZeneca has the right to grant sublicenses through multiple tiers pursuant to Section 14.6.1.3(i). 
1.5 Amendment to Royalty Payment Timing.  The Parties hereby agree that, following the Amendment Effective Date, the sentence “Such royalty will be payable quarterly within thirty (30) days of the end of the calendar quarter for which such royalties are owed.” in Section 14.6.1.6 of the Agreement shall be amended to read as follows: “Such royalty will be payable quarterly within thirty (30) days of the end of the calendar quarter for which such royalties are owed; provided that any royalty in respect of AMG 139 shall be payable quarterly within fifty (50) days of the calendar quarter for which such royalties are owned.”

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Amgen ref. no. 2012575259-010

EXECUTION VERSION

1.6 Amendment to Survival.
(a) The Parties agree that, following the Amendment Effective Date, a new Section 14.6.1.7 shall be added to the Agreement reading as follows: “14.6.1.7 Survival.  Each of the provisions of this Agreement referenced in the first sentence of Section 14.6.3 (as amended hereby) shall continue to apply in the case of a Product by Product termination under this Section 14.6.1 with respect to the applicable Terminated Product.”
(b) The Parties hereby agree that, following the Amendment Effective Date, the phrase “10.5 (License Grant by Partner)” contained in the first sentence of Section 14.6.3 of the Agreement shall be amended to read as follows: “10.5 (License Grant by Partner) (only with respect to the third sentence thereof)”.
(c) The Parties hereby agree that, following the Amendment Effective Date, the phrase “14.6 (Effects of Termination) (with all Products deemed Terminated Products and Amgen being the Continuing Party of all Terminated Products) will survive termination of this Agreement for any reason” contained in the first sentence of Section 14.6.3 of the Agreement shall be amended to read as follows: “14.6 (Effects of Termination) (with all Products deemed Terminated Products and Amgen being the Continuing Party of all Terminated Products other than any such Terminated Product for which Partner is the Continuing Party under Section 14.6.1) will survive termination of this Agreement as a whole for any reason”.
(d) The Parties hereby agree that, following the Amendment Effective Date, the second sentence of Section 14.6.3 of the Agreement shall be deleted in its entirety and replaced with the following: “Except as otherwise provided in this Section 14.6 (Effects of Termination), all rights and obligations of the parties under this Agreement will terminate upon termination of this Agreement as a whole for any reason.”
(e) In light of the fact that the audit rights provided in Section 8.4 of the Agreement do not apply to a Continuing Party’s sublicensee, the Parties hereby agree that, if the Continuing Party enters into a sublicense of Terminated Product Intellectual Property Rights as permitted by Section 14.6.1.3 of the Agreement, the Continuing Party and the Terminating Party will reasonably cooperate in the utilization of any audit rights that the Continuing Party may have under such sublicense with respect to payments that constitute Sublicensing Revenue, provided, however, that either Continuing Party or Terminated Party shall be entitled to elect for such audit rights to be exercised for a given period and in such event the initiating party shall notify the other in writing and the Continuing Party shall use reasonable efforts to promptly exercise such audit rights under such sublicense.   For any audit conducted pursuant to the foregoing sentence (notwithstanding whether such audit was elected by Continuing Party or Terminating Party), Continuing Party and Terminating Party shall be required to pay for [*] and [*], respectively, of any costs and expenses of such audit, to the extent the Continuing Party is obligated to pay for such costs and expenses under the terms of such sublicense and to the extent the audit is for payments that constitute Sublicensing Revenue.  To the extent that, under the terms of such sublicense, any costs of such audit are shifted to the sublicensee or any other Person, the Parties shall cooperate to ensure that Continuing Party and Terminating Party share the benefits of such cost shifting on the basis of [*] and [*], respectively.  If an audit concludes that any additional payment is due to Continuing Party under the terms of such sublicense, then 

3
Amgen ref. no. 2012575259-010

EXECUTION VERSION

the Parties shall cooperate to ensure that Continuing Party and Terminating Party share the benefits of such additional payment on the basis of [*] and [*], respectively.   Similarly, if an audit concludes that excess payments were made by Continuing Party’s sublicensee (to the extent they constituted Sublicensing Revenue) for which Continuing Party is obligated to reimburse its sublicensee under such sublicense, then the Parties shall cooperate to ensure that Continuing Party and Terminating Party allocate such reimbursement payment obligation (to the extent such overpayments constituted Sublicensing Revenue) between them on the basis of [*] and [*], respectively, provided, however, that, to the extent Continuing Party is obligated to pay interest on such outstanding payment obligation under the terms of the sublicense, the allocation of such interest amount between Continuing Party and Terminating Party shall be reasonably allocated on the basis of relative fault for any late payment that triggered such interest.
ARTICLE 2   REFERENCE TO AND EFFECT ON THE AGREEMENT
2.1 Reference to Agreement.  Upon and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified and amended hereby.
2.2 Effectiveness of Amendment.  Upon execution and delivery of this Amendment by both Parties, the amendments set forth above shall be effective as of the Amendment Effective Date. Except as specifically amended above, the Agreement is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Parties.
ARTICLE 3   MISCELLANEOUS
3.1 Choice of Law; Jurisdiction. This Amendment will be governed by, and enforced and construed in accordance with, the laws of the State of New York without regard to its conflicts of law provisions. Each of the Parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the state and federal courts of the State of New York for any matter arising out of or relating to this Amendment and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Amendment or the transactions contemplated hereby in the state and federal courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter will be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either Party under this Amendment will be exclusively conducted in the English language. The United Nations Convention for the International Sale of Goods will not apply to the transactions contemplated herein.

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Amgen ref. no. 2012575259-010

EXECUTION VERSION

3.2 Headings.  The heading for each article and section in this Amendment has been inserted for convenience of reference only and is not intended to limit or expand on the meaning of the language contained in the particular article or section.
3.3 Counterparts.  This Amendment may be executed via electronic and pdf format signatures in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  
 [Signature Page Follows]

5
Amgen ref. no. 2012575259-010

IN WITNESS WHEREOF, duly authorized representatives of the Parties hereto have executed this Amendment as of the date first set forth above.
						
		AMGEN INC.

By:   /s/ David Piacquad
Name: David Piacquad
Title: Senior Vice President, Business Development

		ASTRAZENECA COLLABORATION VENTURES, LLC

By:   /s/ Richard J. Kenny
Name: Richard J. Kenny
Title: Asst. Secretary

		ASTRAZENECA PHARMACEUTICALS LP

By:   /s/ Richard J. Kenny
Name: Richard J. Kenny
Title: Asst. Secretary

[Signature Page to Amendment No.4 to the Collaboration Agreement]

AMENDMENT NO. 5
TO THE
COLLABORATION AGREEMENT

This Amendment No. 5 to the Collaboration Agreement (this “Amendment”) is entered into as of the 31st day of January, 2018 (the “Amendment Effective Date”) by and between Amgen Inc., a Delaware corporation with a place of business at One Amgen Center Drive, Thousand Oaks, California 91320 (“Amgen”), AstraZeneca Collaboration Ventures, LLC, a Delaware limited liability company with a place of business at 1800 Concord Pike, Wilmington, Delaware 19850 (“AstraZeneca” or “Partner”).  Amgen and AstraZeneca are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.  

WHEREAS, Amgen and AstraZeneca entered into that certain Collaboration Agreement, dated as of March 30, 2012, as amended by Amendment No.1 to the Collaboration Agreement, dated October 1, 2014, as further amended by Amendment No.2 to the Collaboration Agreement and Release, dated May 2, 2016, as further amended by Amendment No.3 to the Collaboration Agreement, dated May 27, 2016, and as further amended by Amendment No.4 to the Collaboration Agreement, dated October 2, 2016 (collectively, the “Agreement”); and

WHEREAS, Amgen and AstraZeneca wish to provide for potential development activities by either Party outside of the existing Development Plan, and accordingly wish to update certain portions of the Agreement; and

NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties agree to amend the Agreement as follows.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
PART 1 - UNILATERAL ACTIVITIES AMENDMENTS

1. Amendments to Article 1 (Definitions).  The Parties hereby agree that, following the Amendment Effective Date, Article 1 (Definitions) shall be amended by adding the following Sections:
“Development Data” means, with respect to a given Specified Product, all clinical trial data and results arising from the Unilateral Activities and such other Know-How arising from such Unilateral Activities as would reasonably be expected to be included in a Regulatory Filing seeking Regulatory Approval with respect to the Unilateral Activities. 
“Specified Product” means AMG557 or AMG570 or both AMG557 and AMG570, as context so requires.

Amgen ref. no. 2012575259-011  1

2. Amendments to Article 3 (Development and Regulatory).  The Parties hereby agree that, following the Amendment Effective Date, a new Section 3.7 shall be added to the Agreement reading as follows:
“3.7.  Unilateral Development Activities for Specified Products.
3.7.1.  Unilateral Activities for Specified Products.
        3.7.1.1.  Either Party, by written notice pursuant to Section 15.11 or through its representatives on the JSC at a meeting of the JSC, may propose to develop and potentially seek Regulatory Approval  of a Specified Product for an indication for which development or additional development has not yet been agreed upon by the JSC (a “Proposed Indication”). The decision to pursue development of a Specified Product for such Proposed Indication, including any updates or amendments to the Development Plan, shall be subject to approval by the JSC as set forth in Section 2.5.  If, within sixty (60) days of receipt of the proposal contemplated by the first sentence of this Section (the “JSC Unilateral Activity Review Period”), the JSC is not able to agree on an amendment to the Development Plan with respect thereto, then the interested Party shall have the right to conduct development activities for such Proposed Indication as Unilateral Activities (as hereinafter defined) as and to the extent provided in this Section 3.7.  Subject to this Section 3.7, the Party desiring to conduct such Unilateral Activities (“Unilateral Party”) shall prepare and provide to the JSC a development plan setting forth in reasonable detail (a) the specific clinical studies and other development activities to be performed unilaterally by a Party with respect to a Proposed Indication (“Proposed Unilateral Activities”), including, with respect to each such clinical study:  (i) the number of participants to be enrolled, (ii) the countries in which such clinical study will be conducted, and (iii) the dose and dosage schedule with respect thereto, and (b) the budget for any External Development Costs, Unilateral Third Party Payments and other Development Costs expected to be incurred with respect to such development activities, as the same may be amended from time to time (“Unilateral Development Plan and Budget”).  In addition to the Unilateral Development Plan and Budget, the Unilateral Party shall provide a written description setting forth the success criteria (“Successful Completion Criteria”) for the Proposed Unilateral Activities, which may include, without limitation, the primary endpoints for each clinical study, a target product profile, or such other development criteria as the Unilateral Party determines are appropriate to demonstrate the successful completion of Unilateral Activities for the Proposed Indication.
        3.7.1.2.  Subject to Section 3.7.2, if the JSC fails to agree within the JSC Unilateral Activity Review Period to pursue development of a Proposed Indication for the relevant Specified Product or to update or amend the Development Plan of the relevant Specified Product with respect to such Proposed Indication, the Unilateral Party shall have the right to commence such Proposed Unilateral Activities (such activities, the “Unilateral Activities”) sixty (60) days after the end of the JSC Unilateral Activity Review Period (subject to 
Amgen ref. no. 2012575259-011  2

Section 3.7.2.1) in accordance with, and subject to the terms and conditions of this Agreement and such Unilateral Development Plan and Budget (including, without limitation, Sections 6.2, 6.3 and 12.3).  The other Party (the “Opting-Out Party”) shall be deemed to have opted-out with respect to such Unilateral Activities.  The Unilateral Party shall notify the JSC of any material amendments to any Unilateral Development Plan and Budget with respect to its Unilateral Activities at least thirty (30) days prior to the planned commencement.  For clarity, the Unilateral Party may terminate any Unilateral Activities at any time at its sole discretion, provided that such Unilateral Party shall bear any cost and expense associated with the termination of such Unilateral Activities.   
        3.7.1.3.  For clarity, and notwithstanding any other provision of this Agreement (specifically including Section 2.5.2.) but subject to Section 3.7.2, any dispute within the JSC regarding the Proposed Unilateral Activities, including its consideration under Section 3.7.1.1 of development of a Proposed Indication,  shall not be subject to escalation to the CRC.  
3.7.2.  Prohibited Activities.
        3.7.2.1.   If the Opting-Out Party in good faith believes that (x) any Unilateral Activities of the other Party or its Affiliates would reasonably be expected to have a material adverse effect with respect to the safety profile of the relevant Specified Product or (y) the commercialization of the Specified Product for the Proposed Indication would be reasonably likely to compete with any product as to which the Opting-Out Party is engaged in clinical development or commercialization as of the date of the initiation of the JSC Unilateral Activity Review Period, then the Opting-Out Party shall notify the Unilateral Party within thirty (30) days after the end of the JSC Unilateral Activity Review Period (such notice, a “MAE Notice”).   Following the Unilateral Party’s receipt of the MAE Notice, the two Parties shall promptly discuss in good faith the applicable safety or competition issue, as the case may be, and the Unilateral Party shall not conduct any Unilateral Activities which are the subject of the MAE Notice without the other Party’s written consent. 
        3.7.2.2.  A Unilateral Party  and its Affiliates may conduct Unilateral Activities for a Proposed Indication in which a pharmaceutical product owned or controlled by a Third Party is used (e.g., a combination study or a head-to-head study); provided that: (a) such Unilateral Party or its applicable Affiliate shall obtain all rights and licenses (if any) necessary to use such Third Party’s product as part of such development for a Proposed Indication; and (b) such Unilateral Party or its applicable Affiliate solely shall bear all payments to such Third Party resulting from or in connection with such Unilateral Activities (“Unilateral Third Party Payments”).   
        3.7.2.3.  In conducting Unilateral Activities, (a) a Unilateral Party shall ensure that such Unilateral Activities do not diminish the rights or increase the obligations of the Opting-Out Party under this Agreement; and (b) unless otherwise agreed in writing by the Opting-Out Party, (i) in the event Amgen is the Unilateral Party, all Know-How conceived, discovered, developed or 
Amgen ref. no. 2012575259-011  3

otherwise made in connection with such Unilateral Activities shall be Amgen Intellectual Property and (ii) in the event Partner is the Unilateral Party, all Know-How conceived, discovered, developed or otherwise made in connection with such Unilateral Activities shall be Partner Intellectual Property, and, in each case ((i) and (ii)), all terms and conditions of this Agreement shall apply to such Know-How; provided, however, that, with respect to the foregoing clause (b), the Unilateral Party shall be entitled, subject to Section 3.7.6 below, to withhold from the Opting-Out Party any such Know-How until the Opting-Out Party Opts-In with respect to any Unilateral Activities conducted by the Unilateral Party.  
3.7.3.  Costs of Unilateral Activities; External Development Costs.
        3.7.3.1.  Subject to Sections 3.7.4.3. through Section 3.7.4.6. and Section 3.7.5, (i) the Unilateral Party shall bear the sole cost and expense of (a) all Unilateral Activities, including Unilateral Third Party Payments and (b) any Development Costs incurred with respect to the development of the Specified Product under the Development Plan arising as a result of or in connection with the Unilateral Activities, including Development Costs associated with new development activities requested by a Governmental Authority in connection with data generated by the Unilateral Activities (“Additional Development Costs”), and (ii) except as otherwise expressly set forth herein, the Opting-Out Party shall have no financial obligation to support or otherwise fund any efforts in respect of such Unilateral Activities.
        3.7.3.2.  The Unilateral Party shall report to the JSC regarding the Unilateral Development Plan and Budget as set forth in Section 3.1.3.  
3.7.4.  Opt-In Rights; Opt-In Payments.
        3.7.4.1.  Promptly after the achievement of the Successful Completion Criteria, the Unilateral Party shall provide to the Opting-Out Party (x) a written report summarizing the Development Data resulting from or with respect to the Unilateral Activities as of the date of delivery of such report (“Completion Notice”) and (y) the Development Data with respect to such Unilateral Activities.  The Completion Notice shall be accompanied by a written statement (“Unilateral Activity Cost Statement”) of all direct out-of-pocket costs incurred under the Unilateral Development Plan and Budget by a Unilateral Party or any of its Affiliates payable to a Third Party other than Unilateral Third Party Payments (“External Development Costs”), Unilateral Third Party Payments, Additional Development Costs and other Development Costs incurred by the Unilateral Party with respect to such Unilateral Activities (such External Development Costs, Unilateral Third Party Payments, Additional Development Costs and other Development Costs, collectively, the “Unilateral Development Costs”) through the last day of the calendar quarter immediately preceding the calendar quarter in which such notice is provided (such date, the “Statement Cut-Off Date”).  In addition, the Unilateral Party promptly shall provide to the Opting-Out Party such additional information with respect to the Unilateral Activities described in a Completion Notice as may be reasonably requested by 
Amgen ref. no. 2012575259-011  4

the Opting-Out Party to evaluate such Unilateral Activities (subject to the proviso in Section 3.7.2.3).  
        3.7.4.2.  For a period of thirty (30) days following delivery by the Unilateral Party to the Opting-Out Party of the Completion Notice (“Opt-In Period”), the Opting-Out Party shall have the right (subject to Section 3.7.4.4.2) to opt-in (“Opt-In”) with respect to Unilateral Activities.  If the Opting-Out Party desires to Opt-In, it shall provide written notice thereof to the other Party within the applicable Opt-In Period (an “Opt-In Exercise Notice”).  Thereafter, not later than sixty (60) days after receiving the Opt-In Exercise Notice, the Unilateral Party shall provide to the Opting-Out Party a statement of Unilateral Development Costs incurred by the Unilateral Party in connection with such Unilateral Activities for the period commencing on the day after the Statement Cut-Off Date and ending on the date of receipt of the Opt-In Exercise Notice (the “Subsequent Statement”).
        3.7.4.3.  The Opting-Out Party that Opts-In with respect to Unilateral Activities conducted by the Unilateral Party shall submit its Opt-In Exercise Notice as set forth in Section 3.7.4.2. and shall provide (i) contemporaneously with such notice a payment (“Opt-In Payment”) to the Unilateral Party for the Unilateral Development Costs through the Statement Cut-Off Date as specified in the applicable Unilateral Activity Cost Statement and calculated in accordance with Section 3.7.4.4., and (ii) within sixty (60) days of the receipt of the applicable Subsequent Statement an additional payment (“Subsequent Statement Payment”) to the Unilateral Party for Unilateral Development Costs with respect to such Unilateral Activities as specified in such Subsequent Statement and calculated in accordance with Section 3.7.4.4.
        3.7.4.4.  The foregoing Opt-In Payment and Subsequent Statement Payment shall be calculated by reference to the Unilateral Development Costs set forth in the applicable Unilateral Activity Cost Statement and Subsequent Statement, respectively, at the following rates:
3.7.4.4.1.  If the Successful Completion Criteria are met but are not utilized in the filing of a Regulatory Filing for Regulatory Approval of the Proposed Indication, the Opt-In Payment and Subsequent Statement Payment shall be equal to one hundred percent (100%) of the Unilateral Development Costs.
3.7.4.4.2.  If the Successful Completion Criteria are met and are used in a Regulatory Filing that results in Regulatory Approval of such Proposed Indication, then (notwithstanding any Opt-In provisions set forth in Section 3.7.4.2.) the Opting-Out Party shall automatically be deemed to have exercised its right to Opt-In with respect to the applicable Unilateral Activities and the required Opt-In Payment and Subsequent Statement Payment shall be equal to one hundred twenty five percent (125%) of the Unilateral Development Costs.
Amgen ref. no. 2012575259-011  5

        3.7.4.5.  From and after the Unilateral Party’s receipt of the Opt-In Exercise Notice or deemed exercise by the Opting-Out Party of the Opt-In right, all Unilateral Activities shall cease to be Unilateral Activities and shall constitute development activities under the Development Plan that the Parties thereafter shall share in accordance with Section 7.2.
3.7.5.  Failure to Opt-In; Failure to Meet Successful Completion Criteria.  
        3.7.5.1.  If the Successful Completion Criteria are met but (a) are not utilized in the filing of a Regulatory Filing for Regulatory Approval of the Proposed Indication and (b) the Opting-Out Party has not exercised its Opt-In Right, then the Unilateral Party shall be free to continue to Develop the applicable Specified Product for such Proposed Indication as additional Unilateral Activities as provided by this Section 3.7.
        3.7.5.2.  If the Unilateral Party discontinues the Unilateral Activities at any time or if the Successful Completion Criteria are not met, then:
3.7.5.2.1.  The Opting-Out Party shall have no further obligation to the Unilateral Party with respect to the Unilateral Activities and the provisions of Section 3.7.4. shall no longer be in effect.
3.7.5.2.2.  The Development Plan in effect immediately prior to commencement of the Unilateral Activities shall be the sole governing plan for Development of the applicable Specified Product.
3.7.6.  Sharing of Data for Safety and other Regulatory Needs.
         3.7.6.1.  Sharing and Right of Reference.  The Parties agree that the Unilateral Party shall have a right of reference under Regulatory Filings made with respect to the applicable Specified Product as may be reasonably necessary to report safety data to Governmental Authorities in respect of the Unilateral Activities. The Unilateral Party hereby grants to the Opting-Out Party a non-exclusive license under all Know-How conceived, discovered, developed or otherwise made in connection with its Unilateral Activities, and a right of reference under the Regulatory Filings made with respect to the Unilateral Activities, in both cases, as may be reasonably necessary to report safety data to Governmental Authorities.
         3.7.6.2.  Review of Regulatory Filings.  Parties will discuss in good faith whether there should be review and comment rights with respect to Regulatory Filings made by the Unilateral Party.
         3.7.6.3.  Pharmacovigilance and Global Safety Database.  In the event that the Unilateral Party is not the Development Lead with respect to a Specified Product, within ten (10) Business Days after the commencement of Unilateral Activities, the Unilateral Party and Development Lead shall enter into a separate written pharmacovigilance agreement providing details related to managing and reporting adverse events in respect of the Specified Product that occur during 
Amgen ref. no. 2012575259-011  6

clinical studies and other safety and reporting practices and procedures in compliance with all Applicable Laws. The Development Lead shall establish, hold and maintain a global safety database for the Specified Products. The Unilateral Party shall provide the Development Lead with information in the possession or control of the Unilateral Party as necessary for the Development Lead to maintain such global safety database. The Development Lead shall provide the Unilateral Party with information in the possession or control of the Development Lead as necessary for the Unilateral Party to comply with its pharmacovigilance responsibilities in respect of the Specified Product, including, as applicable, any adverse drug experiences (including those events or experiences that are required to be reported to the FDA under 21 C.F.R. sections 312.32 or 600.80 or to other Governmental Authorities under corresponding Applicable Law outside the United States) from pre-clinical or clinical laboratory, animal toxicology and pharmacology studies, clinical studies, and commercial experiences with the Specified Product.  In the event that the Unilateral Party is the Development Lead with respect to a Specified Product, the Parties will discuss in good faith whether to enter into a separate written pharmacovigilance agreement as described above. ”
1.3 Amendments to Article 13 (Indemnification and Insurance).  The Parties hereby agree that, following the Amendment Effective Date, Article 13 (Indemnification and Insurance) shall be amended by replacing the existing Sections 13.1 and 13.2 with the following Sections:
“13.1 Indemnity by Partner.  Partner will defend, indemnify, and hold harmless Amgen, its Affiliates, and their respective directors, officers, employees, agents and representatives (collectively, “Amgen Indemnitees”), at Partner’s cost and expense, from and against any and all liabilities, losses, costs, damages, fees or expenses (including reasonable legal expenses and attorneys’ fees) (collectively, “Losses”) arising out of any Third Party Claims brought against any Amgen Indemnitee to the extent such Losses result from: (a) the negligence or willful misconduct of Partner or its Affiliates (or any employees, agents or representatives of any of them) in performing under this Agreement; (b) a breach by Partner of this Agreement, including the failure of Partner’s representations or warranties in Article 12 (Representations and Warranties) to be true in any material respect; (c) the death or injury of a person caused by the failure of Product manufactured by Partner to be manufactured in compliance with cGMP or to meet Specifications; or (d) in the event that Partner is conducting Unilateral Activities as a Unilateral Party under Section 3.7 with respect to a Proposed Indication, any activities conducted by or on behalf of Partner or its Affiliates in relation to such Proposed Indication or Unilateral Activities. The indemnification obligations under this Section 13.1 (Indemnity by Partner) exclude Losses to the extent they arise from (a), (b), (c), (d), (e), (f) or (g) below in Section 13.2 (Indemnity by Amgen).” 

“13.2 Indemnity by Amgen.  Amgen will defend, indemnify, and hold harmless Partner, its Affiliates, and their respective directors, officers, employees, agents and representatives (collectively, “Partner Indemnitees”), at Amgen’s cost and expense, from and against any and all Losses arising out of any Third Party Claims brought against any Partner Indemnitee to the extent such Losses result from: (a) acts or omissions of any Amgen Indemnitee or any partner or licensee of an Amgen Indemnitee with respect to a 
Amgen ref. no. 2012575259-011  7

Product outside the Collaboration Scope (other than activities conducted for the benefit of the Collaboration Scope); (b) the negligence or willful misconduct of Amgen or its Affiliates (or any employees, agents or representatives of any of them) in performing under this Agreement; (c) a breach by Amgen of this Agreement, including the failure of Amgen’s representations or warranties in Article 12 (Representations and Warranties) to be true in any material respect; (d) personal injury (regardless of theory of liability) as a result of administration of a Product in the clinical trials listed on the Completed Clinical Trials Schedule; (e) the death or injury of a person caused by the failure of Product manufactured by Amgen to be manufactured in compliance with cGMP or to meet Specifications; (f) any activities conducted by or on behalf of Amgen or its Affiliates in relation to the Products before the Effective Date; or (g) in the event that Amgen is conducting Unilateral Activities as a Unilateral Party under Section 3.7 with respect to a Proposed Indication, any activities conducted by or on behalf of Amgen or its Affiliates in relation to such Proposed Indication or Unilateral Activities. The indemnification obligations under this Section 13.2 (Indemnity by Amgen) exclude Losses to the extent they arise from (a), (b), (c) or (d) above in Section 13.1 (Indemnity by Partner).”

PART 2 – REFERENCE TO AND EFFECT ON THE AGREEMENT
3.1 Reference to Agreement.  Upon and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified and amended hereby.
3.2 Effectiveness of Amendment.  Upon execution and delivery of this Amendment by the Parties, the amendments set forth above shall be effective as of the Amendment Effective Date.  Except as specifically amended above, the Agreement is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Parties.
PART 3 – MISCELLANEOUS
4.1 Choice of Law; Jurisdiction.  This Amendment will be governed by, and enforced and construed in accordance with, the laws of the State of New York without regard to its conflicts of law provisions. Each of the Parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the state and federal courts of the State of New York for any matter arising out of or relating to this Amendment and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Amendment or the transactions contemplated hereby in the state and federal courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter will be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either 
Amgen ref. no. 2012575259-011  8

Party under this Amendment will be exclusively conducted in the English language. The United Nations Convention for the International Sale of Goods will not apply to the transactions contemplated herein.
4.2 Headings.  The heading for each article and section in this Amendment has been inserted for convenience of reference only and is not intended to limit or expand on the meaning of the language contained in the particular article or section.
4.3 Counterparts.  This Amendment may be executed via electronic and pdf format signatures in three (3) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  

[Signature page follows]

Amgen ref. no. 2012575259-011  9

IN WITNESS THEREOF, duly authorized representatives of the Parties hereto have executed this Amendment as of the date first set forth above.

						
	ASTRAZENECA COLLABORATION VENTURES, LLC

	
	By:
	/s/ Richard J. Kenny

	Name:
	Richard J. Kenny

	Title:
	Asst Secretary

		

						
	AMGEN INC.

	
	By:
	/s/ David A. Piacquad

	Name:
	David A. Piacquad

	Title:
	SVP Business Development

		

AMENDMENT NO. 6
TO THE
COLLABORATION AGREEMENT

This Amendment No. 6 to the Collaboration Agreement (this “Amendment”) is entered into as of the 15th day of May, 2020 (the “Amendment Effective Date”) by and between Amgen Inc., a Delaware corporation with a place of business at One Amgen Center Drive, Thousand Oaks, California 91320 (“Amgen”), AstraZeneca Collaboration Ventures, LLC, a Delaware limited liability company with a place of business at 1800 Concord Pike, Wilmington, Delaware 19850 (“AstraZeneca” or “Partner”).  Amgen and AstraZeneca are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.  

WHEREAS, Amgen and AstraZeneca entered into that certain Collaboration Agreement, dated as of March 30, 2012, as amended by Amendment No.1 to the Collaboration Agreement, dated October 1, 2014, as further amended by Amendment No.2 to the Collaboration Agreement and Release, dated May 2, 2016, as further amended by Amendment No.3 to the Collaboration Agreement, dated May 27, 2016, as further amended by Amendment No.4 to the Collaboration Agreement, dated October 2, 2016, and as further amended by Amendment No.5 to the Collaboration Agreement, dated January 31, 2018 (collectively, the “Agreement”); and

WHEREAS, Amgen and AstraZeneca wish to amend certain terms of the Agreement in connection with the commercialization of AMG 157 in asthma as further provided herein; and

NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties agree to amend the Agreement as follows.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
PART 1 - AMENDMENTS TO CERTAIN TERMS

1.Amendment to Section 1.38 (Definition of “Critical Matters”).  From and after the Amendment Effective Date, Section 1.38 (Definition of “Critical Matters”) is hereby amended to (i) delete the word “and” immediately prior to subclause (D), and (ii) add the following language immediately after the words “under Section 7.7 (Budget Deadlocks)” in subclause (D):
“and (E) in relation to commercialization of AMG 157 in asthma, any matters that are expressly stipulated to be “Critical Matters” by the Parties in a Commercialization Framework approved by the JSC.” 
2.Amendment to Section 2.5.2 (JSC Deadlocks).  From and after the Amendment Effective Date, Section 2.5.2 (JSC Deadlocks) is hereby amended to (x) delete the word “and” immediately prior to subclause (iii), and (y) add the following language immediately after the words “in the case of matters under Section 2.5.1.3” in subclause (iii):

Amgen ref. no. 2012575259-016   1

“and (iv) in relation to commercialization of AMG 157 in asthma, the applicable activity lead, in the case of any commercial activities expressly delegated to such lead in a Commercial Framework approved by the JSC.” 
3.Amendment to Section 4.4 (Distribution).  From and after the Amendment Effective Date, Section 4.4 (Distribution) is hereby amended to add the following language immediately after the second sentence in Section 4.4:
“Notwithstanding the foregoing, the Parties agree that, for the commercialization of AMG 157 in asthma, Amgen will be solely responsible for the distribution of AMG 157 in the United States (and, for clarity, shall be the Distribution Party therein for the commercialization of AMG 157 in asthma) and Partner will be solely responsible for the distribution of AMG 157 in all other countries (and, for clarity, shall be the Distribution Party in such countries for the commercialization of AMG 157 in asthma).”
4.Addition of Section 5.11 (Non-Solicitation).  From and after the Amendment Effective Date, a new Section 5.11 (Non-Solicitation) is hereby added to the Agreement immediately following the end of Section 5.10 (Sales Force Disruption) and provides as follows:
“5.11 Non-Solicitation.  Amgen and Partner agree that, for the period leading up to the Regulatory Approval (if any) by the U.S. Food and Drug Administration and for the twelve month period thereafter, they will not directly or indirectly solicit for employment, induce, encourage, or participate in soliciting, inducing, or encouraging, any United States or Canada field-based commercial or medical employee who is employed by the other Party and who works on a Product that is a respiratory product (such Product, a “Respiratory Product”) for the other Party (such employee, a “Respiratory Employee”) to terminate his or her relationship with the other Party.  For the avoidance of doubt, this Section 5.11 does not prevent Amgen or Partner from hiring a Respiratory Employee from the other Party: (i) if that Respiratory Employee applies to a publicly advertised role without any solicitation, inducement, or encouragement by the hiring Party or (ii) as a result of the recruiting efforts of a professional search firm that is not directed to specifically target the other Party’s Respiratory Employees.  Further, for the avoidance of doubt, this Section 5.11 does not prevent Amgen or Partner from soliciting for employment, inducing, encouraging, or participating in soliciting, inducing, or encouraging, any employee who previously worked on a Respiratory Product for the other Party and no longer works on a Respiratory Product at the time of the solicitation, inducement or encouragement.”
PART 2 – REFERENCE TO AND EFFECT ON THE AGREEMENT
6.1 Reference to Agreement.  Upon and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified and amended hereby.
Amgen ref. no. 2012575259-016   2

6.2 Effectiveness of Amendment.  Upon execution and delivery of this Amendment by the Parties, the amendments set forth above shall be effective as of the Amendment Effective Date.  Except as specifically amended above, the Agreement is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Parties.
PART 3 – MISCELLANEOUS
7.1 Choice of Law; Jurisdiction.  This Amendment will be governed by, and enforced and construed in accordance with, the laws of the State of New York without regard to its conflicts of law provisions. Each of the Parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the state and federal courts of the State of New York for any matter arising out of or relating to this Amendment and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Amendment or the transactions contemplated hereby in the state and federal courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter will be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either Party under this Amendment will be exclusively conducted in the English language. The United Nations Convention for the International Sale of Goods will not apply to the transactions contemplated herein.
7.2 Headings.  The heading for each article and section in this Amendment has been inserted for convenience of reference only and is not intended to limit or expand on the meaning of the language contained in the particular article or section.
7.3 Counterparts.  This Amendment may be executed via electronic and pdf format signatures in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  

[Signature page follows]

Amgen ref. no. 2012575259-016   3

IN WITNESS THEREOF, duly authorized representatives of the Parties hereto have executed this Amendment as of the date first set forth above.

						
	ASTRAZENECA COLLABORATION VENTURES, LLC

	
	By:
	/s/ Mariam Koohdary

	Name:
	Mariam Koohdary

	Title:
	Deputy General Counsel

		

						
	AMGEN INC.

	
	By:
	/s/ Murdo Gordon

	Name:
	Murdo Gordon

	Title:
	EVP, Global Commercial Operations

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