Document:

AMENDED & RESTATED LICENSE AGREEMENT

 Exhibit 10.19 
 AMENDED AND RESTATED LICENSE AGREEMENT 
 This Amended and Restated License Agreement (this “Agreement”) is
entered into as of September 1, 2003, by and between Antigenics, Inc., a corporation existing under the laws of Delaware and having its principal place of business at 630 Fifth Avenue, Suite 2100, New York, NY 10111 (“Antigenics”),
and Sumitomo Pharmaceuticals Co., Ltd. having its principal place of business at 2-8, Doshomachi 2-Chome, Chuo-ku, Osaka 541-8510, Japan (“Sumitomo”). 
 WITNESSETH: 
 WHEREAS, Aronex Pharmaceuticals, Inc. of 8707 Technology Forest Place, The Woodlands, Texas
77381- 1191, U.S.A. (“API”) and Sumitomo have executed the License Agreement dated December 12, 2000 regarding the license of US Patent Application Serial No. 06/836,524 owned by Sumitomo (the “Current Agreement”).

 WHEREAS, API has paid Sumitomo US$ 500,000 as the first milestone payment pursuant to the Current Agreement; 
 WHEREAS, as of October 12, 2001, API has assigned to Antigenics all of API’s rights and obligations on the Current Agreement, pursuant to
Section 13 thereof; 
 WHEREAS, Antigenics and Sumitomo are willing to clarify and amend certain terms and conditions of the Current
Agreement by amending, restating and superceding the Current Agreement with this Agreement; 
 NOW, THEREFORE, in consideration of the
premises and mutual covenants herein contained, the parties hereto agree as follows: 
  

	1.	Definitions. 

 “Subject Patent” means (i) US
Patent Application Serial No. 06/836,524, filed March 5, 1986 and any patents issued thereon, and (ii) any divisions, continuations, continuation-in-part, reissues, renewals, extensions thereof. 
 “Products” means any products covered by any of the Subject Patent, except for any product which contains [**] (“Sumitomo Product”).

 “Net Sales” means the gross sales of all the Products covered by a valid claim of an issued Subject Patent sold by Antigenics or
its sub-lisensees to third parties in the Territory less (i) all quantity discounts and customary allowances actually granted to such third parties with respect to the sale of the Products, (ii) returns of the Products to Antigenics or its
sub-lisensees from its customer by reason of spoiled, damaged or outdated products and (iii) transportation and handling charges, taxes and duties applicable to sales of the Products. 
  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

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 “Territory” means U. S. A. and its territories and protectorates. 
  

	2.	License. 

  

	 	(1)	Sumitomo hereby grants to Antigenics under the Subject Patent except for the treatment of hepatoma(i) an exclusive license to make, have made, use, develop, import and sell [**]
(“Antigenics Product”) (ii) an exclusive license but for Sumitomo to make, have made, use, develop, import and sell any other Products than Antigenics Product, in the Territory. 

  

	 	(2)	Upon prior written notice to Sumitomo, which shall specify the identification of the sub-licensee, Antigenics may grant, within the limitations of license granted pursuant to
Sub-section (1) above, sub-licenses in respect thereof to any third parties, but every such sub-license shall be subject to all terms and conditions contained in the grant of the license so sub-licensed and shall also contain terms, conditions
and obligations requiring such sub-licensee to do such acts as may be necessary or proper to enable Antigenics to observe all the terms and conditions and to perform all the obligations oh Antigenics’ part hereunder. No sub- license shall be
granted by any sub-licensee of Antigenics. Any operations of the sub-licensee of Antigenics shall be deemed to be the operations of Antigenics and Antigenics shall account for and be primarily liable for the performance by such sub-licensee of all
of its obligations hereunder. 

  

	3.	Compensation. In consideration of the license hereunder, Antigenics shall pay the following milestone payments and running royalties to Sumitomo by bank transfer to Sumitomo’s
designated account as set forth below. 

 Milestone Payments 
  

	 	•	 	 [**] within thirty (30) days of acceptance of filing the first regulatory application by Antigenics or its sub-licensee for sales regarding the first Product
within the Territory; 

  

	 	•	 	 [**] within thirty (30) days of obtaining by Antigenics or its sub-licensee the first regulatory approval for sales regarding the first Products within the
Territory; 

  

	 	•	 	 [**] within thirty (30) days of the earliest fiscal year end of Antigenics when cumulative Net Sales by Antigenics and its sub- licensees altogether in the
Territory reaches [**]; 

  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

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	 	•	 	 [**] within thirty (30) days of obtaining by Antigenics or its sub-licensee regulatory approval for sale regarding each additional product among the Products
within the Territory. 

 Running Royalty 
 Within ninety (90) days of each fiscal year end of Antigenics: 
  

	 	•	 	 [**] for the part of annual Net Sales up to [**]; 

  

	 	•	 	 [**] for the part of annual Net Sales over [**] up to [**]; 

 [**] for the part of annual Net Sales over [**]. 
 In the event that the Product is sold by Antigenics or its sub-licensee in combination with other active ingredients, the applicable royalty payable by Antigenics shall be reduced proportionately based upon the selling prices of each active
ingredient individually as compared to the selling price of the combined active ingredients. 
 In the event that Antigenics demonstrates to Sumitomo by [**]
patent attorneys’ opinions (of different law firms) who have expertise at patent issues in the U.S., that it has to make royalty or other payments to one or more third parties in order for Antigenics or its sub-licensees to practice the Subject
Patent for manufacturing, using or selling Product without violating such third parties’ intellectual property rights, Antigenics may offset a total of up to [**] percent of such third-party payments against any royalty payments otherwise due
to Sumitomo hereunder subject to Sumitomo’s approval, but in no event shall the royalties payable to Sumitomo be reduced to less than [**] of the amounts otherwise due hereunder. Antigenics shall negotiate in good faith with any such third
party at arms’ length with a view to minimizing Antigenics’ financial burden to such third party for which an offset would be allowed hereunder, and the percentage for the reduction from royalties payable to Sumitomo shall be determined
through good faith negotiation between Antigenics and Sumitomo. 
  

	4.	Taxes. Withholding taxes, if any, levied on any of the above payments may be deducted therefrom, and Antigenics shall furnish to Sumitomo the evidences of the payment of any such
taxes for Sumitomo to obtain tax reduction from Japanese government. 

  

	5.	Royalty Report. Antigenics shall furnish to Sumitomo within ninety (90) days of its fiscal year a written report showing (i) the Net Sales of all Products sold by
Antigenics and its sub-licensees and the running royalty on such Net Sales during the reporting period, broken down by each company, and (ii) withholding taxes set forth in the above paragraph 4. 

  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

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	6.	Records and Audit .Antigenics shall keep, and shall have its sub-licensees keep, accurate records in sufficient detail to enable the running royalties payable hereunder to be
determined for eight (8) years from the year in which such sales occurred. Upon reasonable prior notice, Sumitomo may, at Sumitomo’s expense, and not more that once in each fiscal year for each company, have a public accounting firm
examine the records stipulated above during reasonable business hours. Said public accounting firm shall treat as confidential, and shall not disclose any information acquired through the audit. 

  

	7.	Patent Infringement by Third Party; Prosecution and Maintenance. 

  

	 	(1)	In the event that a third party infringes or threatens to infringe any of the Subject Patents except for those concerning Sumitomo Product in the territory 

Antigenics may, after full consultation with Sumitomo, take any suitable measures including a legal action against such infringement and Sumitomo shall
give reasonable assistance (excluding financial assistance) to Antigenics. If Antigenics commences litigation, it shall have the right to sue in Sumitomo’s name as attorney in fact for Sumitomo. Antigenics shall be entitled to a credit against
up to [**] of the royalty payments required under paragraph 3 for the amounts paid by it in defending and enforcing the Subject Patent. Any recoveries which Antigenics receives as damages or settlement as the result of such measures shall be first
credited to such royalty and the remaining sum, if any, shall be [**] by Sumitomo and Antigenics. Antigenics shall keep Sumitomo reasonably informed as to such infringement and measures, and shall not execute a settlement or compromise on such
infringement without prior consent of Sumitomo, which consent shall not be unreasonably withheld or delayed. Sumitomo has the right to participate in or take any such measures at its own discretion and expense. 
  

	 	(2)	Sumitomo shall be responsible for prosecution and maintenance of the Subject Patent, at its expense, and shall keep Antigenics informed thereof. In the event that Antigenics
assumes, upon Sumitomo’s request, the prosecution and maintenance of the Subject Patent, it shall be entitled to [**] against royalties due under paragraph 3 above. 

  

	8.	Product Liability Antigenics shall indemnify and hold harmless Sumitomo (including its affiliates, employees, agents and representatives) against any and all claims, damages,
liabilities, losses, costs and expenses of any kind or nature arising out of or in connection with third party claims or suits relating to the Products made, developed, manufactured, imported or sold by Antigenics or its sub-licensees.

  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

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	9.	Term. This Agreement shall become effective on the date first above written and shall remain in full force until the latest expiration date of the Subject Patent. Sumitomo may
terminate this Agreement if Antigenics contests the validity of the Subject Patent in any way. In addition, in the event that any sub-licensee [**] the [**] of the Subject Patent in any way, Sumitomo shall have the right to direct Antigenics to [**]
the [**] with such sub-licensee by providing written notice to Antigenics. In the event Antigenics fails to [**] such [**] within [**] days of receipt of such notice by Sumitomo, Sumitomo shall have the right to [**] immediately upon written
notice to Antigenics. 

  

	10.	Termination. Either party may at any time immediately terminate this Agreement, by giving written notice to the other party, upon the happening of any of the following events:

  

	 	(1)	if the other party makes an assignment of substantially all of its assets for the benefit of creditors, is the subject of proceedings in voluntary or involuntary bankruptcy or
reorganization instituted on behalf of or against such party, or has a receiver or trustee appointed for all or substantially all of its property; 

  

	 	(2)	if the other party becomes insolvent, or is unable to pay its debts as and when they fall due; 

  

	 	(3)	if a material default is made by the other party (for Antigenics case, which includes a material default against this Agreement made by sub-licensees) in performance or observance
of any provision of this Agreement and such default is not rectified within [**] days after notice specifying the default. For the avoidance of doubt, in the event of a material default of a sub-licensee for which Sumitomo intends to exercise its
termination rights hereunder, Sumitomo shall provide written notice to Antigenics, and Antigenics shall have the right to rectify such default by either (a) causing its sub-licensee to rectify such default within the [**] period, or
(b) terminating the sub-license agreement within the [**] period if the sub- licensee does not rectify such default. 

  

	11.	Early Termination by Sumitomo. In the event this Agreement is terminated by Sumitomo pursuant to Section 10 above prior to expiration (and not for a material default of the
sub-licensee), Sumitomo will grant such sub-licensee a direct license to the Subject Patent on terms and conditions that are substantially the same as the applicable terms and conditions contained in this Agreement, and on financial terms no more
favorable than those granted to Antigenics pursuant to this Agreement but no less favorable than the financial terms provided to such sub-licensee by Antigenics pursuant to the applicable sub-license agreement. However, Sumitomo shall have no
greater obligations to such sub-licensee than the obligations Sumitomo has to Antigenics hereunder. In addition, the sub-licensee shall have obligations to Sumitomo under the direct license that are substantially the same as and at least equal to
the obligations Antigenics has to Sumitomo hereunder. 

  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

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	12.	Entire Agreement. This Agreement constitutes the whole and entire agreement between the parties with respect to the subject matter hereof, and replaces all previous representations,
understandings, arrangements or agreements (including without limitation the Current Agreement) given or made by the parties with respect thereto, whether oral or in writing. 

  

	13.	Non-assignment. Neither party may assign all or any of its rights under this Agreement without the prior written consent of the other party, which consent must not be unreasonably
withheld. Notwithstanding the foregoing, and except in the case described in paragraph 10(1) above, either party may assign this Agreement without such consent to a third party that succeeds to all or substantially all of the assigning party’s
business or assets relating to this Agreement, whether by sale, merger, operation of law or otherwise provided that such assignee or transferee agrees in writing to be bound by the terms and conditions of this Agreement. 

  

	14.	Governing Law. This Agreement, including its validity and interpretation, shall be construed and enforced in accordance with the laws of Japan, provided that validity,
enforceability and claim interpretation of the Subject Patent shall be governed by the laws of the United States. 

  

	15.	Arbitration. Any dispute or controversy between the parties as to the interpretation, enforcement or termination of this Agreement (other than patent disputes or controversies
relating to the validity, enforceability and claim interpretation of the Subject Patent), which cannot otherwise be settled by the parties, shall be finally settled by binding arbitration under the Rules of the International Chamber of Commerce to
be held at the principal place of business of the party against whom any such action was initiated. Such arbitration proceeding shall be conducted, in English, by a panel of 3 arbitrators appointed in accordance with such rules. The costs of the
arbitration, including administrative fees and fees of the arbitrators, shall be shared equally by the parties, unless otherwise determined by the arbitrators. Each party shall bear the cost of its own attorneys’ fees and expert fees incurred
in such proceedings. 

 IN WITNESS HEREOF, the parties hereto have executed this Agreement in duplicate by their duly authorized
representatives and each party keeps one each. 
  

									
	Accepted:	 		 	Accepted:
	Antigenics Inc.	 		 	Sumitomo Pharmaceuticals Co., Ltd.
					
	By:	 	 /s/ Russell Herndon
	 		 	By:	 	 /s/ Hiroshi Noguchi

		 	Russell Herndon	 		 		 	Hiroshi Noguchi, Ph.D.
	Title:	 	President	 		 	Title:	 	Director
	Date:	 	September 19, 2003	 		 	Date:	 	September 1, 2003

  

  
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 
  

 62004 EXECUTIVE INCENTIVE PLAN

 Exhibit 10.28 
 ANTIGENICS INC 
 2004 EXECUTIVE INCENTIVE PLAN 
 PURPOSE OF PLAN 
 To provide additional incentive for key executives
to contribute to the success of the Company. The Plan provides significant and competitive incentive awards which relate directly to the achievement of corporate objectives and individual performance goals. This, in turn, promotes and protects the
interests of stockholders and enhances the Company’s ability to attract, retain, motivate and compensate our employees. 
 Senior Management shall
interpret and administer the Plan and its rules and regulations as outlined below. 
 AWARD FUND 
 The total bonus award fund for the plan year will be approved by the Compensation Committee of the Board of Directors on the recommendation of the Chief Executive
Officer. 
 The recommendations will reflect an assessment of the Company’s performance against key milestones/objectives agreed to for the plan year.

 ELIGIBILITY FOR PARTICIPATION 
 Executives in good
standing who are not eligible to participate in any other annual incentive plan. 
 Eligibility and the criteria for eligibility for participation in the
Plan are not automatic from one year to the next, but are subject to an annual review by senior management. Exclusion of an otherwise eligible employee must have the approval of the Chief Executive Officer. 
 INDIVIDUAL PERFORMANCE OBJECTIVES 
 Incentive awards will be based
upon the achievement of corporate objectives and individual performance goals. It is the responsibility of each functional head to set and communicate strategic goals, develop budgets, and formulate action plans in concurrence with their senior
management. Based on plans, managers and employees are responsible for documenting agreed upon goals, targets and priorities using the performance management system, forms and timetables. 
 All performance objectives are pre-approved by senior management. 
 TARGETED INCENTIVE AWARD OPPORTUNITY 
 A significant and competitive targeted incentive award opportunity is assigned to each position.
Target awards will typically range from 20% to 50%. The targeted award is expressed as a percentage of a participant’s base salary. Actual awards will equal, exceed or fall below targeted incentive levels based on the extent to which
performance objectives are achieved. 

 Targeted incentive award levels are subject to review each year by the Compensation Committee of the Board of Directors
to ensure they remain competitive and consistent with Plan objectives. 
 DETERMINATION OF ACTUAL INCENTIVE EARNINGS 
 Awards will be funded from 0% to 150% based on the extent to which Antigenics’ corporate objectives/milestones are achieved. At the approval of the Chief Executive
Officer, awards may be adjusted to recognize individual goal attainment and performance that contributed to the achievement of corporate objectives/milestones. 
 TIMING OF INCENTIVE AWARD PAYMENTS 
 All incentive award payments will be paid on or about February 15th. 
 TAX TREATMENT OF AWARDS 
 Appropriate Federal, State and Local taxes
will be deducted from all incentive award payments. 
 EFFECTIVE DATE OF SALARY 
 Incentive award payments will be calculated based on salary in effect on January 1st. 
 HIRES, PROMOTIONS,
DEATHS & LAST WORKDAY PRECEDING RETIREMENT 
 Incentive awards for the above actions may be pro-rated throughout the Plan year based upon the
number of months that the action is effective, including partial months at the discretion of senior management. 
 For example: 
 Hire - An employee hired on 7/15 will receive 5 months of incentive. 
 Promotion - An employee who is promoted from one bonus target level to another on 11/5 will receive a target incentive of the first percentage for 10 months and the second percentage for two months. 

Death - An incentive award based on four months of earnings will be paid to the estate of an employee who dies on 4/20. 
 TERMINATIONS 
 Employees who are terminated by the Company (other than
for reasons of death, disability, or retirement) or who voluntarily resign from the Company must be active on February 15th to receive the award payment. 
 LEAVES OF ABSENCE 
 The Company may, in its sole discretion, and consistent with applicable law, reduce awards in the event that an employee
is on a leave of absence in excess of 30 working days. 
 Individuals who are receiving long-term disability benefits are no longer active employees, and
therefore, are not eligible to participate in the incentive plan. 

 WITHHOLDING PAYMENTS 
 Participants do not have any enforceable right to receive any award made with respect to a fiscal year or to retain any payment made with respect thereto if for any reason during such entire fiscal year they have not performed their duties
to the satisfaction of the Company. In cases where management deems it appropriate to withhold all or a part of a payment for performance related reasons, the performance issues must be documented and the affected employee must receive explicit
notice that his/her payment under the Plan will be withheld if the performance issues are not addressed. 
 MISCELLANEOUS 
 Senior management shall review the operation of the Plan. If at any time continuation of the Plan or any of its provisions becomes inappropriate or inadvisable, the Plan
or its provisions shall be revised, modified, suspended or withdrawn. The Company reserves the right to interpret this Plan in its sole discretion. 
 Participants do not have any right or interest, whether vested or otherwise, in the Plan or in any award unless and until all of the terms, conditions and provisions of the Plan and the conditions have been complied with. Nothing contained
in the Plan or in the guidelines shall require the Company to segregate or earmark any cash, shares of stock or other property. Neither the adoption of the Plan nor its operation shall in any way affect the rights and power of the Company or of any
Subsidiary to dismiss and/or discharge any employee at any time. 
 These guidelines are a summary intended to assist in the administration of the Plan. In
cases where the summary conflicts with the actual Plan or the rules and regulations adopted by the Board and its designated Committee, those shall be followed.

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