Document:

EX-10.4

 Exhibit 10.4 
 ***Text Omitted and Filed Separately 
 with the Securities and Exchange
Commission. 
 Confidential Treatment Requested 
 Under 17 C.F.R. Sections 200.80(b)(4) and 240.24b-2. 
 1ST AMENDMENT to
Ex-U.S. LICENSE AGREEMENT BETWEEN 
 VICAL INCORPORATED AND ASTELLAS PHARMA INC. 

THIS AMENDMENT is made and entered into as of August 6, 2012 (“Amendment Effective Date”) by and
between VICAL INCORPORATED, a Delaware corporation (“Vical”), having an address of 10390 Pacific Center Court, San Diego, California, 92121, USA, and
ASTELLAS PHARMA INC., a company organized under the laws of Japan (“Astellas”), having an address of 3-11, Nihonbashi-Honcho 2-chome, Chuo-Ku, Tokyo 103-8411, Japan.

 RECITALS 
 WHEREAS, the parties have entered into the Ex-U.S. License Agreement dated July 12, 2011 (the “Ex-U.S. License Agreement”); and 

WHEREAS, the parties wish to amend certain payment provisions in the Ex-U.S. License Agreement as set forth herein. 

NOW, THEREFORE, for and in consideration of mutual covenants and the premises herein contained, the parties,
intending to be legally bound, hereby agree as follows: 
 AGREEMENT 

 

	A.	INTERPRETATION 

 Unless otherwise
defined in this Amendment, the definitions of the Ex-U.S. License Agreement shall be also applicable to this Amendment. 
 Except
as specifically amended by this Amendment, the terms and conditions of the Ex-U.S. License Agreement shall remain in full force and effect. 
  

	B.	MILESTONE PAYMENTS 

 Subject to
Section C of this Amendment, Section 5.2 of the Ex-U.S. License Agreement shall be amended as follows: 
 “5.2
Milestone Payments. Within thirty (30) days after the occurrence of each of the following milestone events, Astellas shall pay to Vical the corresponding non-refundable and non-creditable (unless otherwise set forth in this Section)
milestone payment set forth below (whether such milestone event is achieved by Astellas or any Sublicensee): 
  

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  	US$	[...***...	] 

  

					
		  	1	  	***Confidential Treatment Requested

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  			
	 [...***...]
	  			

  

					
		  	2	  	***Confidential Treatment Requested

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  			
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  	US$	[...***...	] 

  

					
		  	3	  	***Confidential Treatment Requested

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  			
	 [...***...]
	  			

  

					
		  	4	  	***Confidential Treatment Requested

 Each of the milestone payments described in this Section 5.2 shall be payable one time
for the first achievement of such milestone event by any applicable Product, regardless of the number of other Products that subsequently achieve such milestone event. For clarification, in the event two or more milestone events are achieved at the
same time, the milestone payments for both milestone events shall be due.” 
  

	C.	FURTHER AMENDMENT FOR MILESTONE PAYMENT 

 It is recognized and agreed by the parties that the amended Section 5.2 pursuant to Section B above (“Amended 5.2”) is based on [...***...], Amended 5.2 shall
automatically be further amended as follows: 
 “5.2 Milestone Payments. Within thirty (30) days after the
occurrence of each of the following milestone events, Astellas shall pay to Vical the corresponding non-refundable, non-creditable milestone payment set forth below (whether such milestone event is achieved by Astellas or any Sublicensee):

  

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  			

  

					
		  	5	  	***Confidential Treatment Requested

			
	 Milestone Event
	  	Milestone Payment
	 [...***...]
	  	
	 [...***...]
	  	
	 [...***...]
	  	

  

					
		  	6	  	 ***Confidential Treatment Requested

					
	 Milestone Event
	  	Milestone Payment	 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  	US$	[...***...	] 
	 [...***...]
	  			
	 [...***...]
	  			

  

					
		  	7	  	 ***Confidential Treatment Requested

			
	 Milestone Event
	  	Milestone Payment
	 [...***...]
	  	

 Each of the milestone payments described in this Section 5.2 shall be payable one time for the first
achievement of such milestone event by any applicable Product, regardless of the number of other Products that subsequently achieve such milestone event. For clarification, in the event two or more milestone events are achieved at the same time, the
milestone payments for both milestone events shall be due.” 
 For the purpose of this Amendment, such further amended
Section 5.2 shall be referred to as “Original 5.2”. 
  

	D.	ADJUSTMENT 

 Within ninety
(90) days following the date when [...***...]: 
  

	 	(i)	[...***...]; 

  

	 	(ii)	[...***...]; or 

  

	 	(iii)	[...***...]. 

  

					
		  	8	  	 ***Confidential Treatment Requested

 For avoidance of doubt, (i) [...***...] and (ii) [...***...].

 In the event that [...***...]. In such case, in the event that [...***...]. In the event that [...***...].
In case that [...***...]. 
  

	E.	ROYALTY RATE 

Section 5.3(a) of the Ex-U.S. License Agreement shall be amended as follows: 

“(a) Royalty Rate. Astellas shall pay Vical royalties as calculated by multiplying the applicable royalty rates by the
corresponding amount of incremental Net Sales in the Territory in a Fiscal Year. 

  

					
		  	9	  	 ***Confidential Treatment Requested

					
	 Net Sales in the Territory Per Fiscal Year
	  	Royalty Rate	 
	 Portion less than or equal to US$[...***...]
	  	 	[...***...	]% 
	 Portion greater than US$[...***...] and less than or equal to US$[...***...]
	  	 	[...***...	]% 
	 Portion greater than US$[...***...]
	  	 	[...***...	]% 

 By way of example, [...***...]: 

[...***...] 
 [...***...] 
 [...***...] 

 
  

[...***...] 
 In same example, [...***...]: 
  

									
	 	  	 [...***...]
	  	 [...***...]
	  	 [...***...]
	  	 [...***...]

					
	 [...***...]
	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
					
	 [...***...]
	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]

   ” 
  

	F.	DEFINITION 

 The following
sentences shall be inserted in appropriate places in Article 1 of the Ex-U.S. License Agreement. 
 “1.16-A
“[...***...]” shall have the meaning provided in Section [...***...].” 
 “1.26-A
“Fiscal Year” shall have the period starting from April 1 of certain Calendar Year and ending at March 31 of the following Calendar Year.” 
 “1.28-A “[...***...]” shall have the meaning provided in Section [...***...].” 

  

					
		  	10	  	 ***Confidential Treatment Requested

	G.	DURATION OF THE AMENDMENT 

 The
term of this Amendment shall commence on the Amendment Effective Date and, unless otherwise agreed in writing between the parties, continue until the date of expiration or earlier termination of the Ex-U.S. License Agreement. 

IN WITNESS WHEREOF, the parties hereto have duly executed this
AMENDMENT as of the date set forth below. 
  

									
	VICAL INCORPORATED	 		 	ASTELLAS PHARMA INC.
					
	By:	 	 /s/ Vijay B. Samant
	 		 	By:	 	 /s/ Yoshihiko Hatanaka

	Name:	 	Vijay B. Samant	 		 	Name:	 	Yoshihiko Hatanaka
	Title:	 	President and CEO	 		 	Title:	 	President and CEO
	Date:	 	August 6, 2012	 		 	Date:	 	August 2, 2012

  
 11EX-10.5

 Exhibit 10.5 
 ***Text Omitted and Filed Separately 
 with the Securities and Exchange
Commission. 
 Confidential Treatment Requested 
 Under 17 C.F.R. Sections 200.80(b)(4) 
 and 240.24b-2. 

1ST AMENDMENT to SUPPLY AND SERVICES AGREEMENT BETWEEN 
 VICAL INCORPORATED AND ASTELLAS PHARMA INC. 
 THIS
AMENDMENT is made and entered into as of August 6, 2012 (“Amendment Effective Date”) by and between VICAL INCORPORATED, a Delaware corporation
(“Vical”), having an address of 10390 Pacific Center Court, San Diego, California, 92121, USA, and ASTELLAS PHARMA INC., a company organized under the laws of Japan
(“Astellas”), having an address of 3-11, Nihonbashi-Honcho 2-chome, Chuo-Ku, Tokyo 103-8411, Japan. 

RECITALS 

WHEREAS, the parties have entered into the Supply and Services Agreement dated July 12, 2011 (the “Supply and Services
Agreement”); 
 WHEREAS, the parties wish to amend the Supply and Services Agreement so as to reflect the current
situation relating to Manufacture and supply of the Compound and the Product. 
 NOW, THEREFORE, for and in
consideration of mutual covenants and the premises herein contained, the parties, intending to be legally bound, hereby agree as follows: 
 AGREEMENT 
  

	A.	INTERPRETATION 

 Unless otherwise
defined in this Amendment, the definitions of the Supply and Services Agreement shall be also applicable to this Amendment. 

Except as specifically amended by this Amendment, the terms and conditions of the Supply and Services Agreement shall remain in full force
and effect. 
  

	B.	CHANGE OF THE TIMING OF TRANSFER OF VICAL MANUFACTURING INFORMATION 

 The first sentence of Section 3.2 shall be amended as follows: 

“Starting no later than six (6) months after the third anniversary of first Regulatory Approval of the first Product in the
Field or such earlier date as requested in writing by Astellas, the parties shall work together to agree to a plan for transitioning responsibility for the Manufacture and supply of Compounds and Products in the Field to Astellas or its designated
contract manufacturer, and the parties shall use Commercially Reasonable Efforts to implement such plan and complete such transfer as promptly as possible, but in any event by [...***...]

  

					
		  	A-1	  	***Confidential Treatment Requested

 
[...***...] or (c) such earlier date as agreed in writing by the parties, whichever comes earlier.” 

 

	C.	CAPITAL INVESTMENT 

 The
following paragraph shall be added after Section 3.2 of the Supply and Services Agreement as Section 3.3: 

“3.3 Vical’s Investments 
 (a) Proposal. If Vical is required to make investments in its manufacturing facilities in order to meet Astellas’ requirements of the Commercial Products during the Extended Term
(“Investments”), Vical shall submit to Astellas for review the plan of the Investments to be made by Vical and its estimation of incremental capital cost and all reasonable expenses therefor and the parties shall negotiate in
good faith and agree upon such plan and the amount to be borne by Astellas in connection therewith within three (3) months from receipt by Astellas of such plan and estimation from Vical, or such other date as agreed in writing by the parties.
Vical shall, in no event, make such Investments without Astellas’ prior written approval, not to be unreasonably withheld or delayed; provided that nothing in this Section 3.3 shall limit or restrict Vical’s rights to make any
investments in its manufacturing facilities at its own expense without approval of Astellas. 
 (b)
Reimbursement. Astellas shall reimburse Vical the agreed incremental capital costs and all reasonable expenses incurred by Vical in scaling up, or increasing production capacity to meet Astellas’ supply requirements of the Commercial
Products. 
 For the purpose of this Section 3.3, within thirty (30) days of the end of each Calendar
Quarter, Vical shall submit to Astellas an invoice for the actual cost for such scaling up or increasing production capacity incurred and/or paid during immediately previous Calendar Quarter together with the reasonably detailed supporting documents
therefor. 
 Within forty five (45) days of the receipt of such invoice, unless Astellas has reasonable
question or objection to the invoice, Astellas shall pay to Vical the cost for such scaling up or increasing production capacity. 
 For avoidance of doubt, the costs for such scaling up or increasing production capacity, which have been already reimbursed by Astellas, shall be excluded from calculation of Cost of Goods. 

(c) Failure to Agree. In case that (i) the parties hereto cannot reach an agreement on the Investments within
such three (3) month period as referred to in Section 3.3(a) or (ii) either party does not wish to make the Investments and so informs the other party, the parties shall start and perform their activities set forth in Section
3.2.” 

  

					
		  	A-2	  	***Confidential Treatment Requested

	D.	TRANSFER PRICE 

 The following
sentence shall be added at the end of Section 5.2(a) of the Supply and Services Agreement: 
 “During the period
starting from third anniversary of the First Commercial Sale of the first Product in the Field and ending on the last day of the Term (“Extended Term”), each of the ceiling of the Transfer Price set forth in this
Section 5.2(a) shall be reviewed from time to time and revised as agreed to by the parties based on then-current USA Consumer Price Index.” 
  

	E.	TERM 

 Section 11.1 of the
Supply and Services Agreement shall be amended as follows: 
 “11.1 Term. The term of this Agreement shall commence
on the Effective Date and continue until the earliest to occur of (a) the sixth anniversary of the First Commercial Sale of the first Product for use in HSCT Recipients in the Field, (b) the third anniversary of the First Commercial Sale
of the first Product for use in SOT Recipients in the Field, (c) the date designated by Astellas in advance (such designated date shall be notified in writing by Astellas to Vical), and (d) the date of expiration or termination of the
later to expire or terminate of the License Agreements, in each case unless terminated earlier pursuant to Section 11.2 (the “Term”). In the event a License Agreement terminates or expires (or terminates or expires with
respect to any country or countries to the extent provided therein) prior to the end of the Term, then thereafter during the Term, subject to Section 11.3(b), all obligations of Vical under this Agreement with respect to the applicable country
or countries shall terminate unless otherwise agreed by the parties.” 
  

	F.	DEFINITION 

 The following
sentences shall be inserted in appropriate places in Article 1 of the U.S. License Agreement. 
 “1.24-A “Extended
Term” shall have the meaning provided in Section 5.2(a).” 
 “1.37-A “Investments” shall
have the meaning provided in Section 3.3(a).” 

  

					
		  	A-3	  	

	G.	DURATION OF THE AMENDMENT 

 The
term of this Amendment shall commence on the Amendment Effective Date and, unless otherwise agreed in writing between the parties, continue until the date of expiration or earlier termination of the Supply and Services Agreement. 

IN WITNESS WHEREOF, the parties hereto have duly executed this
AMENDMENT as of the date set forth below. 
  

									
	VICAL INCORPORATED	 		 	ASTELLAS PHARMA INC.
					
	By:	 	 /s/ Vijay B. Samant
	 		 	By:	 	 /s/ Yoshihiko Hatanaka

	Name:	 	Vijay B. Samant	 		 	Name:	 	Yoshihiko Hatanaka
	Title:	 	President and CEO	 		 	Title:	 	President and CEO
	Date:	 	August 6, 2012	 		 	Date:	 	August 2, 2012

  

					
		  	A-4

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