Document:

EX-10.3

 Exhibit 10.3 
  

 
 REGENXBIO INC. 

2015 EQUITY INCENTIVE PLAN 

(AS ADOPTED ON JUNE 17, 2015) 

 REGENXBIO INC. 

2015 EQUITY INCENTIVE PLAN 

ARTICLE 1. INTRODUCTION. 
 The Board
adopted the Plan to become effective immediately, although no Awards may be granted prior to the Registration Date. The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by
(a) encouraging Service Providers to focus on critical long-range corporate objectives, (b) encouraging the attraction and retention of Service Providers with exceptional qualifications and (c) linking Service Providers directly to
stockholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of Options (which may constitute ISOs or NSOs), SARs, Restricted Shares, Stock Units and Performance Cash Awards.

 ARTICLE 2. ADMINISTRATION. 
 2.1
General. The Plan may be administered by the Board or one or more Committees. Each Committee shall have the authority and be responsible for such functions as have been assigned to it. 

2.2 Section 162(m). To the extent an Award is intended to qualify as “performance-based compensation” within the meaning
of Code Section 162(m), the Plan will be administered by a Committee of two or more “outside directors” within the meaning of Code Section 162(m). 

2.3 Section 16. To the extent desirable to qualify transactions hereunder as exempt under Exchange Act Rule 16b-3, the
transactions contemplated hereunder will be approved by the entire Board or a Committee of two or more “non-employee directors” within the meaning of Exchange Act Rule 16b-3. 

2.4 Powers of Administrator. Subject to the terms of the Plan, and in the case of a Committee, subject to the specific duties delegated
to the Committee, the Administrator shall have the authority to (a) select the Service Providers who are to receive Awards under the Plan, (b) determine the type, number, vesting requirements and other features and conditions of such
Awards, (c) determine whether and to what extent any Performance Goals have been attained, (d) interpret the Plan and Awards granted under the Plan, (e) make, amend and rescind rules relating to the Plan and Awards granted under the
Plan, including rules relating to sub-plans established for the purposes of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws, (f) impose such restrictions, conditions or limitations
as it determines appropriate as to the timing and manner of any resales by a Participant of any Common Shares issued pursuant to an Award, including restrictions under an insider trading policy and restrictions as to the use of a specified brokerage
firm for such resales, and (g) make all other decisions relating to the operation of the Plan and Awards granted under the Plan. 

 2.5 Effect of Administrator’s Decisions. The Administrator’s decisions,
determinations and interpretations shall be final and binding on all Participants and any other holders of Awards. 
 2.6 Governing
Law. The Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware (except its choice-of-law provisions). 

ARTICLE 3. SHARES AVAILABLE FOR GRANTS. 

3.1 Basic Limitation. Common Shares issued pursuant to the Plan may be authorized but unissued shares or treasury shares. The aggregate
number of Common Shares issued under the Plan shall not exceed the sum of (a) 2,025,000 shares (subject to adjustment pursuant to a stock split to be effected prior to the IPO Date), (b) the number of Common Shares reserved under the
Predecessor Plan that are not issued or subject to outstanding awards under the Predecessor Plan on the Registration Date, (c) any Common Shares subject to outstanding options under the Predecessor Plan on the Registration Date that
subsequently expire or lapse unexercised and Common Shares issued pursuant to awards granted under the Predecessor Plans that are outstanding on the Registration Date and that are subsequently forfeited to or repurchased by the Company and
(d) the additional Common Shares described in Articles 3.2 and 3.3; provided, however, that no more than 6,015,300 Common Shares (subject to adjustment pursuant to a stock split to be effected prior to the IPO Date), in the aggregate,
shall be added to the Plan pursuant to clauses (b) and (c). The number of Common Shares that are subject to Stock Awards outstanding at any time under the Plan may not exceed the number of Common Shares that then remain available for issuance
under the Plan. The numerical limitations in this Article 3.1 shall be subject to adjustment pursuant to Article 9. 
 3.2
Annual Increase in Shares. As of the first business day of each fiscal year of the Company during the term of the Plan, commencing on January 1, 2016, the aggregate number of Common Shares that may be issued under the Plan shall
automatically increase by a number equal to the least of (a) 4% of the total number of Common Shares outstanding on December 31 of the prior year, or (b) a number of Common Shares determined by the Board. 

3.3 Shares Returned to Reserve. To the extent that Options, SARs or Stock Units granted under this Plan are forfeited or expire for any
other reason before being exercised or settled in full, the Common Shares subject to such Options, SARs or Stock Units shall again become available for issuance under the Plan. If SARs are exercised, then only the number of Common Shares (if any)
actually issued to the Participant in settlement of such SARs shall reduce the number available under Article 3.1 and the balance shall again become available for issuance under the Plan. If Stock Units are settled, then only the number of
Common Shares (if any) actually issued to the Participant in settlement of such Stock Units shall reduce the number available under Article 3.1 and the balance shall again become available for issuance under the Plan. If Restricted Shares or
Common Shares issued upon the exercise of Options or otherwise under the Plan are reacquired by the Company pursuant to a forfeiture provision, repurchase right or for any other reason prior to the shares having become vested, then such Common
Shares shall again become available for issuance under the Plan. Common Shares applied to pay 

  
 2 

 
the Exercise Price of Options or to satisfy tax withholding obligations related to any Award shall again become available for issuance under the Plan. To the extent that an Award is settled in
cash rather than Common Shares, the cash settlement shall not reduce the number of Shares available for issuance under the Plan. 
 3.4
Awards Not Reducing Share Reserve in Article 3.1. Any dividend equivalents paid or credited under the Plan with respect to Stock Units shall not be applied against the number of Common Shares that may be issued under the Plan, whether or not
such dividend equivalents are converted into Stock Units. In addition, Common Shares subject to Substitute Awards granted by the Company shall not reduce the number of Common Shares that may be issued under Article 3.1, nor shall shares subject to
Substitute Awards again be available for Awards under the Plan in the event of any forfeiture, expiration or cash settlement of such Substitute Awards. 

3.5 Share Limits. Subject to adjustment in accordance with Article 9: 

(a) The aggregate number of Common Shares subject to Options and SARs that may be granted under this Plan during any calendar
year to any one Participant shall not exceed 1,500,000 Common Shares (subject to adjustment pursuant to a stock split to be effected prior to the IPO Date), except that the Company may grant to a new Employee in the calendar year in which his or her
Service as an Employee first commences Options and/or SARs that cover (in the aggregate) up to an additional 500,000 Common Shares (subject to adjustment pursuant to a stock split to be effected prior to the IPO Date); 

(b) The aggregate number of Common Shares subject to Restricted Share awards and Stock Units that may be granted under this
Plan during any calendar year to any one Participant shall not exceed 1,500,000 Shares (subject to adjustment pursuant to a stock split to be effected prior to the IPO Date), except that the Company may grant to a new Employee in the calendar year
in which his or her Service as an Employee first commences Restricted Share awards and Stock Units that cover (in the aggregate) up to an additional 500,000 Common Shares (subject to adjustment pursuant to a stock split to be effected prior to the
IPO Date); 
 (c) No Participant shall be paid more than $1 million in cash in any calendar year pursuant to Performance
Cash Awards granted under the Plan; 
 (d) No more than 6,015,300 Common Shares (subject to adjustment pursuant to a stock
split to be effected prior to the IPO Date) plus the additional Common Shares described in Article 3.2 may be issued under the Plan upon the exercise of ISOs; and 

(e) The maximum aggregate grant date fair value (as determined in accordance with Financial Accounting Standards Board
Accounting Standards Codification Topic 718, or any successor thereto) of Options and SARs that may be granted under this Plan to an Outside Director as compensation for services as an Outside Director during a calendar year shall not exceed
$500,000. 

  
 3 

 ARTICLE 4. ELIGIBILITY. 

4.1 Incentive Stock Options. Only Employees who are common-law employees of the Company, a
Parent or a Subsidiary shall be eligible for the grant of ISOs. In addition, an Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company or any of its Parents or Subsidiaries shall not be
eligible for the grant of an ISO unless the additional requirements set forth in Code Section 422(c)(5) are satisfied. 
 4.2 Other
Awards. Awards other than ISOs may only be granted to Service Providers. 
 ARTICLE 5. OPTIONS. 

5.1 Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee
and the Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock Option Agreement shall specify whether the Option is intended to be an ISO or
an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 
 5.2 Number of
Shares. Each Stock Option Agreement shall specify the number of Common Shares subject to the Option, which number shall adjust in accordance with Article 9. 

5.3 Exercise Price. Each Stock Option Agreement shall specify the Exercise Price, which shall not be less than 100% of the Fair Market
Value of a Common Share on the date of grant. The preceding sentence shall not apply to an Option that is a Substitute Award granted in a manner that would satisfy the requirements of Code Section 409A and, if applicable, Code
Section 424(a). 
 5.4 Exercisability and Term. Each Stock Option Agreement shall specify the date or event when all or any
installment of the Option is to become vested and/or exercisable. The Stock Option Agreement shall also specify the term of the Option; provided that, except to the extent necessary to comply with applicable foreign law, the term of an Option shall
in no event exceed 10 years from the date of grant. A Stock Option Agreement may provide for accelerated vesting and/or exercisability upon certain specified events and may provide for expiration prior to the end of its term in the event of the
termination of the Optionee’s Service. 
 5.5 Death of Optionee. After an Optionee’s death, any vested and exercisable
Options held by such Optionee may be exercised by his or her beneficiary or beneficiaries. Each Optionee may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation may be
changed by filing the prescribed form with the Company at any time before the Optionee’s death. If no beneficiary was designated or if no designated beneficiary survives the Optionee, then any vested and exercisable Options held by the Optionee
may be exercised by his or her estate. 

  
 4 

 5.6 Modification or Assumption of Options. Within the limitations of the Plan, the
Administrator may modify, reprice, extend or assume outstanding options or may accept the cancellation of outstanding options (whether granted by the Company or by another issuer) in return for the grant of new Options for the same or a different
number of shares and at the same or a different exercise price or in return for the grant of a different type of Award. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair his or her rights
or obligations under such Option. 
 5.7 Buyout Provisions. The Administrator may at any time (a) offer to buy out for a payment
in cash or cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Administrator shall establish.

 5.8 Payment for Option Shares. The entire Exercise Price of Common Shares issued upon exercise of Options shall be payable in cash
or cash equivalents at the time when such Common Shares are purchased. In addition, the Administrator may, in its sole discretion and to the extent permitted by applicable law, accept payment of all or a portion of the Exercise Price through any one
or a combination of the following forms or methods: 
 (a) Subject to any conditions or limitations established by the
Administrator, by surrendering Common Shares that are already owned by the Optionee with a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Common Shares as to which such Option will be exercised; 

(b) By delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by the Company
to sell all or part of the Common Shares being purchased under the Plan and to deliver all or part of the sales proceeds to the Company; 

(c) Subject to such conditions and requirements as the Administrator may impose from time to time, through a net exercise
procedure; or 
 (d) Through any other form or method consistent with applicable laws, regulations and rules. 

ARTICLE 6. STOCK APPRECIATION RIGHTS. 

6.1 SAR Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement between the Optionee and the Company. Such
SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered into under the Plan need not be identical. 

  
 5 

 6.2 Number of Shares. Each SAR Agreement shall specify the number of Common Shares to
which the SAR pertains, which number shall adjust in accordance with Article 9. 
 6.3 Exercise Price. Each SAR Agreement shall
specify the Exercise Price, which shall in no event be less than 100% of the Fair Market Value of a Common Share on the date of grant. The preceding sentence shall not apply to a SAR that is a Substitute Award granted in a manner that would satisfy
the requirements of Code Section 409A. 
 6.4 Exercisability and Term. Each SAR Agreement shall specify the date when all or any
installment of the SAR is to become vested and exercisable. The SAR Agreement shall also specify the term of the SAR; provided that except to the extent necessary to comply with applicable foreign law, the term of a SAR shall not exceed 10 years
from the date of grant. A SAR Agreement may provide for accelerated vesting and exercisability upon certain specified events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service.

 6.5 Exercise of SARs. Upon exercise of a SAR, the Optionee (or any person having the right to exercise the SAR after his or her
death) shall receive from the Company (a) Common Shares, (b) cash or (c) a combination of Common Shares and cash, as the Administrator shall determine. The amount of cash and/or the Fair Market Value of Common Shares received upon
exercise of SARs shall, in the aggregate, not exceed the amount by which the Fair Market Value (on the date of surrender) of the Common Shares subject to the SARs exceeds the Exercise Price. If, on the date when a SAR expires, the Exercise Price is
less than the Fair Market Value on such date but any portion of such SAR has not been exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of such date with respect to such portion. A SAR Agreement may also
provide for an automatic exercise of the SAR on an earlier date. 
 6.6 Death of Optionee. After an Optionee’s death, any vested
and exercisable SARs held by such Optionee may be exercised by his or her beneficiary or beneficiaries. Each Optionee may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation
may be changed by filing the prescribed form with the Company at any time before the Optionee’s death. If no beneficiary was designated or if no designated beneficiary survives the Optionee, then any vested and exercisable SARs held by the
Optionee at the time of his or her death may be exercised by his or her estate. 
 6.7 Modification or Assumption of SARs. Within the
limitations of the Plan, the Administrator may modify, reprice, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the
same or a different number of shares and at the same or a different exercise price or in return for the grant of a different type of Award. The foregoing notwithstanding, no modification of a SAR shall, without the consent of the Optionee, impair
his or her rights or obligations under such SAR. 
 ARTICLE 7. RESTRICTED SHARES. 

7.1 Restricted Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock Agreement
between the recipient and the Company. 

  
 6 

 
Such Restricted Shares shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Restricted
Stock Agreements entered into under the Plan need not be identical. 
 7.2 Payment for Awards. Restricted Shares may be sold or
awarded under the Plan for such consideration as the Administrator may determine, including (without limitation) cash, cash equivalents, property, cancellation of other equity awards, full-recourse promissory notes, past services and future
services, and such other methods of payment as are permitted by applicable law. 
 7.3 Vesting Conditions. Each Award of Restricted
Shares may or may not be subject to vesting and/or other conditions as the Administrator may determine. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement. Such
conditions, at the Administrator’s discretion, may include one or more Performance Goals. A Restricted Stock Agreement may provide for accelerated vesting upon certain specified events. 

7.4 Voting and Dividend Rights. The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and other
rights as the Company’s other stockholders, unless the Administrator otherwise provides. A Restricted Stock Agreement, however, may require that any cash dividends paid on Restricted Shares (a) be accumulated and paid when such Restricted
Shares vest, or (b) be invested in additional Restricted Shares. Such additional Restricted Shares shall be subject to the same conditions and restrictions as the shares subject to the Stock Award with respect to which the dividends were paid.
In addition, unless the Administrator provides otherwise, if any dividends or other distributions are paid in Common Shares, such Common Shares shall be subject to the same restrictions on transferability and forfeitability as the Restricted Shares
with respect to which they were paid. 
 ARTICLE 8. STOCK UNITS. 

8.1 Stock Unit Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement between the recipient
and the Company. Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Stock Unit Agreements entered into under the Plan
need not be identical. 
 8.2 Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no cash
consideration shall be required of the Award recipients. 
 8.3 Vesting Conditions. Each Award of Stock Units may or may not be
subject to vesting, as determined by the Administrator. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement. Such conditions, at the Administrator’s discretion, may include
one or more Performance Goals. A Stock Unit Agreement may provide for accelerated vesting upon certain specified events. 
 8.4 Voting
and Dividend Rights. The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture, Stock Units awarded under the Plan may, at the Administrator’s discretion, provide for a right to dividend equivalents. Such
right entitles the 

  
 7 

 
holder to be credited with an amount equal to all cash dividends paid on one Common Share while the Stock Unit is outstanding. Dividend equivalents may be converted into additional Stock Units.
Settlement of dividend equivalents may be made in the form of cash, in the form of Common Shares, or in a combination of both. Prior to distribution, any dividend equivalents shall be subject to the same conditions and restrictions as the Stock
Units to which they attach. 
 8.5 Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the
form of (a) cash, (b) Common Shares or (c) any combination of both, as determined by the Administrator. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award,
based on predetermined performance factors, including Performance Goals. Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Common Shares over a series of trading days.
Vested Stock Units shall be settled in such manner and at such time(s) as specified in the Stock Unit Agreement. Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Article 9. 

8.6 Death of Recipient. Any Stock Units that become payable after the recipient’s death shall be distributed to the
recipient’s beneficiary or beneficiaries. Each recipient of Stock Units under the Plan may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation may be changed by filing
the prescribed form with the Company at any time before the Award recipient’s death. If no beneficiary was designated or if no designated beneficiary survives the Award recipient, then any Stock Units that become payable after the
recipient’s death shall be distributed to the recipient’s estate. 
 8.7 Modification or Assumption of Stock Units. Within
the limitations of the Plan, the Administrator may modify or assume outstanding stock units or may accept the cancellation of outstanding stock units (whether granted by the Company or by another issuer) in return for the grant of new Stock Units
for the same or a different number of shares or in return for the grant of a different type of Award. The foregoing notwithstanding, no modification of a Stock Unit shall, without the consent of the Participant, impair his or her rights or
obligations under such Stock Unit. 
 8.8 Creditors’ Rights. A holder of Stock Units shall have no rights other than those of a
general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement. 

ARTICLE 9. ADJUSTMENTS; DISSOLUTIONS AND LIQUIDATIONS; CORPORATE TRANSACTIONS. 

9.1 Adjustments. In the event of a subdivision of the outstanding Common Shares, a declaration of a dividend payable in Common Shares or
a combination or consolidation of the outstanding Common Shares (by reclassification or otherwise) into a lesser number of Common Shares, corresponding proportionate adjustments shall automatically be made in each of the following: 

(a) The number and kind of shares available for issuance under Article 3, including the numerical share limits in Articles
3.1, 3.2 and 3.5; 

  
 8 

 (b) The number and kind of shares covered by each outstanding Option, SAR and
Stock Unit; and 
 (c) The Exercise Price applicable to each outstanding Option and SAR, and the repurchase price, if any,
applicable to Restricted Shares. 
 In the event of a declaration of an extraordinary dividend payable in a form other than Common Shares in an amount that
has a material effect on the price of Common Shares, a recapitalization, a spin-off or a similar occurrence, the Administrator shall make such adjustments as it, in its sole discretion, deems appropriate in one or more of the foregoing. Any
adjustment in the number of and kind of shares subject to an Award under this Article 9.1 shall be rounded down to the nearest whole share, although the Administrator in its sole discretion may make a cash payment in lieu of a fractional share.
Except as provided in this Article 9, a Participant shall have no rights by reason of any issuance by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of
any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. 
 9.2
Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company. 

9.3 Corporate Transactions. In the event that the Company is a party to a merger, consolidation, or a Change in Control (other than one
described in Article 14.6(d)), all Common Shares acquired under the Plan and all Awards outstanding on the effective date of the transaction shall be treated in the manner described in the definitive transaction agreement (or, in the event the
transaction does not entail a definitive agreement to which the Company is party, in the manner determined by the Administrator, with such determination having final and binding effect on all parties), which agreement or determination need not treat
all Awards (or portions thereof) in an identical manner. Unless an Award Agreement provides otherwise, the treatment specified in the transaction agreement or by the Administrator shall include (without limitation) one or more of the following with
respect to each outstanding Award: 
 (a) The continuation of such outstanding Awards by the Company (if the Company is the
surviving entity); 
 (b) The assumption of such outstanding Awards by the surviving entity or its parent, provided that the
assumption of an Option or a SAR shall comply with applicable tax requirements; 
 (c) The substitution by the surviving
entity or its parent of an equivalent award for outstanding Awards (including, but not limited to, an award to acquire the same consideration paid to the holders of Common Shares in the transaction), provided that the substitution of an Option or a
SAR shall comply with applicable tax requirements; 

  
 9 

 (d) The cancellation of outstanding Options and SARs without payment of any
consideration. The Optionees shall be able to exercise such Options and SARs (to the extent the Options and SARs are vested or become vested as of the effective date of the transaction) during a period of not less than five full business days
preceding the closing date of the transaction, unless (i) a shorter period is required to permit a timely closing of the transaction and (ii) such shorter period still offers the Optionees a reasonable opportunity to exercise such Options
and SARs. Any exercise of such Options and SARs during such period may be contingent on the closing of the transaction; 

(e) Full exercisability of outstanding Options and SARs and full vesting of the Common Shares subject to Options and SARs,
followed by cancellation of such Options and SARs. The full exercisability of such Options and SARs and full vesting of such Common Shares may be contingent on the closing of the transaction. The Optionees shall be able to exercise such Options and
SARs during a period of not less than five full business days preceding the closing date of such merger or consolidation, unless (i) a shorter period is required to permit a timely closing of such merger or consolidation and (ii) such
shorter period still offers the Optionees a reasonable opportunity to exercise such Options and SARs. Any exercise of such Options and SARs during such period may be contingent on the closing of such merger or consolidation; 

(f) The cancellation of the Options and SARs and a payment to the Optionee with respect to each Share subject to the portion of
the Award that is vested as of the transaction date equal to the excess of (A) the value, as determined by the Administrator in its absolute discretion, of the property (including cash) received by the holder of a Common Share as a result
of the transaction, over (B) the per-share Exercise Price of the Option or SAR (such excess, the “Spread”). Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving entity or its
parent having a value equal to the Spread. In addition, any escrow, holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the same extent and in the same manner as such provisions apply to the
holders of Common Shares, but only to the extent the application of such provisions does not adversely affect the status of the Option or SAR as exempt from Code Section 409A. If the Spread applicable to an Option or SAR is zero
or a negative number, then the Option or SAR may be cancelled without making a payment to the Optionee; 
 (g) The
cancellation of outstanding Stock Units and a payment to the holder thereof with respect to each Common Share subject to the Stock Unit (whether or not such Stock Unit is then vested) equal to the value, as determined by the Administrator in its
absolute discretion, of the property (including cash) received by the holder of a Common Share as a result of the transaction (the “Transaction Value”). Such payment shall be made in the form of cash, cash equivalents, or securities
of the surviving entity or its parent having a value equal to the Transaction Value. In addition, such payment may be subject to vesting based on the Participant’s continuing Service, provided that the vesting schedule shall not be less
favorable to the Participant than the schedule under which such Stock Units would have vested, and if required under applicable tax rules, such payment may be deferred until the settlement date specified in the Stock Unit Agreement. In addition, any
escrow, holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the 

  
 10 

 
same extent and in the same manner as such provisions apply to the holders of Common Shares. In the event that a Stock Unit is subject to Code Section 409A, the payment described in this
clause (g) shall be made on the settlement date specified in the applicable Stock Unit Agreement, provided that settlement may be accelerated in accordance with Treasury Regulation Section 1.409A-3(j)(4); or 

(h) The assignment of any reacquisition or repurchase rights held by the Company in respect of an Award of Restricted Shares to
the surviving entity or its parent, with corresponding proportionate adjustments made to the price per share to be paid upon exercise of any such reacquisition or repurchase rights. 

For avoidance of doubt, the Administrator shall have the discretion, exercisable either at the time an Award is granted or at any time while the Award remains
outstanding, to provide for the acceleration of vesting upon the occurrence of a Change in Control, whether or not the Award is to be assumed or replaced in the transaction, or in connection with a termination of the Participant’s Service
following a transaction. 
 Any action taken under this Article 9.3 shall either preserve an Award’s status as exempt from Code Section 409A or
comply with Code Section 409A. 
 ARTICLE 10. OTHER AWARDS. 

10.1 Performance Cash Awards. A Performance Cash Award is a cash award that may be granted subject to the attainment of specified
Performance Goals during a Performance Period. A Performance Cash Award may also require the completion of a specified period of continuous Service. The length of the Performance Period, the Performance Goals to be attained during the Performance
Period, and the degree to which the Performance Goals have been attained shall be determined conclusively by the Administrator. Each Performance Cash Award shall be set forth in a written agreement or in a resolution duly adopted by the
Administrator which shall contain provisions determined by the Administrator and not inconsistent with the Plan. The terms of various Performance Cash Awards need not be identical. 

10.2 Awards Under Other Plans. The Company may grant awards under other plans or programs. Such awards may be settled in the form of
Common Shares issued under this Plan. Such Common Shares shall be treated for all purposes under the Plan like Common Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Common Shares available under
Article 3. 
 ARTICLE 11. LIMITATION ON RIGHTS. 

11.1 Retention Rights. Neither the Plan nor any Award granted under the Plan shall be deemed to give any individual a right to remain a
Service Provider. The Company and its Parents, Subsidiaries and Affiliates reserve the right to terminate the Service of any Service Provider at any time, with or without cause, subject to applicable laws, the Company’s certificate of
incorporation and by-laws and a written employment agreement (if any). 
 11.2 Stockholders’ Rights. Except as set forth in
Article 7.4 or 8.4 above, a Participant shall have no dividend rights, voting rights or other rights as a stockholder with 

  
 11 

 
respect to any Common Shares covered by his or her Award prior to the time when a stock certificate for such Common Shares is issued or, if applicable, the time when he or she becomes entitled to
receive such Common Shares by filing any required notice of exercise and paying any required Exercise Price. No adjustment shall be made for cash dividends or other rights for which the record date is prior to such time, except as expressly provided
in the Plan. 
 11.3 Regulatory Requirements. Any other provision of the Plan notwithstanding, the obligation of the Company to issue
Common Shares under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory body as may be required. The Company reserves the right to restrict, in whole or in part, the delivery of Common Shares
pursuant to any Award prior to the satisfaction of all legal requirements relating to the issuance of such Common Shares, to their registration, qualification or listing or to an exemption from registration, qualification or listing. The inability
of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed necessary by the Company’s counsel to be necessary to the lawful issuance and sale of any Common Shares hereunder, will relieve the
Company of any liability in respect of the failure to issue or sell such Common Shares as to which such requisite authority will not have been obtained. 

11.4 Transferability of Awards. The Administrator may, in its sole discretion, permit transfer of an Award in a manner consistent with
applicable law. Unless otherwise determined by the Administrator, Awards shall be transferable by a Participant only by (a) beneficiary designation, (b) a will or (c) the laws of descent and distribution. An ISO may only be
transferred by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative. 

11.5 Other Conditions and Restrictions on Common Shares. Any Common Shares issued under the Plan shall be subject to such forfeiture
conditions, rights of repurchase, rights of first refusal, other transfer restrictions and such other terms and conditions as the Administrator may determine. Such conditions and restrictions shall be set forth in the applicable Award Agreement and
shall apply in addition to any restrictions that may apply to holders of Common Shares generally. In addition, Common Shares issued under the Plan shall be subject to such conditions and restrictions imposed either by applicable law or by Company
policy, as adopted from time to time, designed to ensure compliance with applicable law or laws with which the Company determines in its sole discretion to comply including in order to maintain any statutory, regulatory or tax advantage. 

ARTICLE 12. TAXES. 
 12.1 General.
As a condition to an Award under the Plan, a Participant or his or her successor shall make arrangements satisfactory to the Company for the satisfaction of any federal, state, local or foreign withholding tax obligations that arise in connection
with any Award granted under the Plan. The Company shall not be required to issue any Common Shares or make any cash payment under the Plan until such obligations are satisfied. 

12.2 Share Withholding. To the extent that applicable law subjects a Participant to tax withholding obligations, the Administrator may
permit such Participant to satisfy all or part 

  
 12 

 
of such obligations by having the Company withhold all or a portion of any Common Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Common Shares that
he or she previously acquired. Such Common Shares shall be valued at their Fair Market Value on the date when they are withheld or surrendered. Any payment of taxes by assigning Common Shares to the Company may be subject to restrictions including
any restrictions required by SEC, accounting or other rules. 
 12.3 Section 162(m) Matters. The Administrator, in its sole
discretion, may determine whether an Award is intended to qualify as “performance-based compensation” within the meaning of Code Section 162(m). The Administrator may grant Awards that are based on Performance Goals but that are not
intended to qualify as performance-based compensation. With respect to any Award that is intended to qualify as performance-based compensation, the Administrator shall designate the Performance Goal(s) applicable to, and the formula for calculating
the amount payable under, an Award within 90 days following commencement of the applicable Performance Period (or such earlier time as may be required under Code Section 162(m)), and in any event at a time when achievement of the applicable
Performance Goal(s) remains substantially uncertain. Prior to the payment of any Award that is intended to constitute performance-based compensation, the Administrator shall certify in writing whether and the extent to which the Performance Goal(s)
were achieved for such Performance Period. The Administrator shall have the right to reduce or eliminate (but not to increase) the amount payable under an Award that is intended to constitute performance-based compensation. 

12.4 Section 409A Matters. Except as otherwise expressly set forth in an Award Agreement, it is intended that Awards granted under
the Plan either be exempt from, or comply with, the requirements of Code Section 409A. To the extent an Award is subject to Code Section 409A (a “409A Award”), the terms of the Plan, the Award and any written agreement
governing the Award shall be interpreted to comply with the requirements of Code Section 409A so that the Award is not subject to additional tax or interest under Code Section 409A, unless the Administrator expressly provides otherwise. A
409A Award shall be subject to such additional rules and requirements as specified by the Administrator from time to time in order for it to comply with the requirements of Code Section 409A. In this regard, if any amount under a 409A Award is
payable upon a “separation from service” to an individual who is considered a “specified employee” (as each term is defined under Code Section 409A), then no such payment shall be made prior to the date that is the earlier
of (i) six months and one day after the Participant’s separation from service or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to Code
Section 409A(a)(1). 
 12.5 Limitation on Liability. Neither the Company nor any person serving as Administrator shall have any
liability to a Participant in the event an Award held by the Participant fails to achieve its intended characterization under applicable tax law. 

ARTICLE 13. FUTURE OF THE PLAN. 
 13.1
Term of the Plan. The Plan, as set forth herein, shall become effective on the Registration Date. The Plan shall remain in effect until the earlier of (a) the date when the Plan is terminated under Article 13.2 or (b) the 10th
anniversary of the date when the Board adopted the Plan. 

  
 13 

 13.2 Amendment or Termination. The Board may, at any time and for any reason, amend or
terminate the Plan. No Awards shall be granted under the Plan after the termination thereof. The termination of the Plan, or any amendment thereof, shall not affect any Award previously granted under the Plan. 

13.3 Stockholder Approval. An amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the
extent required by applicable laws, regulations or rules. 
 ARTICLE 14. DEFINITIONS. 

14.1 “Administrator” means the Board or any Committee administering the Plan in accordance with Article 2. 

14.2 “Affiliate” means any entity other than a Subsidiary, if the Company and/or one or more Subsidiaries own not less than
50% of such entity. 
 14.3 “Award” means any award granted under the Plan, including as an Option, a SAR, a Restricted
Share, a Stock Unit or a Performance Cash Award. 
 14.4 “Award Agreement” means a Stock Option Agreement, an SAR
Agreement, a Restricted Stock Agreement, a Stock Unit Agreement or such other agreement evidencing an Award granted under the Plan. 
 14.5
“Board” means the Company’s Board of Directors, as constituted from time to time. 
 14.6 “Change in
Control” means: 
 (a) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)
becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting power represented by the Company’s
then-outstanding voting securities; 
 (b) The consummation of the sale or disposition by the Company of all or substantially
all of the Company’s assets; 
 (c) The consummation of a merger or consolidation of the Company with or into any other
entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of
the surviving entity or its parent) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation;
or 

  
 14 

 (d) Individuals who are members of the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the members of the Board over a period of 12 months; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved
or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board. 

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding
company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. In addition, if a Change in Control constitutes a payment event with respect to any Award
which provides for a deferral of compensation and is subject to Code Section 409A, then notwithstanding anything to the contrary in the Plan or applicable Award Agreement the transaction with respect to such Award must also constitute a
“change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Code Section 409A. 

14.7 “Code” means the Internal Revenue Code of 1986, as amended. 

14.8 “Committee” means a committee of one or more members of the Board, or of other individuals satisfying applicable laws,
appointed by the Board to administer the Plan. 
 14.9 “Common Share” means one share of the common stock of the Company.

 14.10 “Company” means REGENXBIO Inc., a Delaware corporation. 

14.11 “Consultant” means a consultant or adviser who provides bona fide services to the Company, a Parent, a
Subsidiary or an Affiliate as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the Securities Act of 1933, as amended. 

14.12 “Employee” means a common-law employee of the Company, a Parent, a Subsidiary
or an Affiliate. 
 14.13 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

14.14 “Exercise Price,” in the case of an Option, means the amount for which one Common Share may be purchased upon exercise
of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of a SAR, means an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair Market Value of one Common
Share in determining the amount payable upon exercise of such SAR. 
 14.15 “Fair Market Value” means the closing price of
a Common Share on any established stock exchange or a national market system on the applicable date or, if the applicable date is not a trading day, on the last trading day prior to the applicable date, as reported in a source that the Administrator
deems reliable. If Common Shares are no longer traded on an established stock exchange or a national market system, the Fair Market Value shall be determined by the Administrator in good faith on such basis as it deems appropriate. The
Administrator’s determination shall be conclusive and binding on all persons. 

  
 15 

 14.16 “ISO” means an incentive stock option described in Code
Section 422(b). 
 14.17 “NSO” means a stock option not described in Code Sections 422 or 423. 

14.18 “Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase Common Shares. 

14.19 “Optionee” means an individual or estate holding an Option or SAR. 

14.20 “Outside Director” means a member of the Board who is not an Employee. 

14.21 “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company,
if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a
date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 14.22 “Participant” means
an individual or estate holding an Award. 
 14.23 “Performance Cash Award” means an award of cash granted under Article
10.1 of the Plan. 
 14.24 “Performance Goal” means a goal established by the Administrator for the applicable Performance
Period based on one or more of the performance criteria set forth in Appendix A. Depending on the performance criteria used, a Performance Goal may be expressed in terms of overall Company performance or the performance of a business unit,
division, Subsidiary, Affiliate or an individual. A Performance Goal may be measured either in absolute terms or relative to the performance of one or more comparable companies or one or more relevant indices. The Administrator may adjust the
results under any performance criterion to exclude any of the following events that occurs during a Performance Period: (a) asset write-downs, (b) litigation, claims, judgments or settlements, (c) the effect of changes in tax laws,
accounting principles or other laws or provisions affecting reported results, (d) accruals for reorganization and restructuring programs, (e) extraordinary, unusual or non-recurring items, (f) exchange rate effects for non-U.S. dollar
denominated net sales and operating earnings, or (g) statutory adjustments to corporate tax rates; provided, however, that if an Award is intended to qualify as “performance-based compensation” within the meaning of Code
Section 162(m), such adjustment(s) shall only be made to the extent consistent with Code Section 162(m). 
 14.25 “Performance
Period” means a period of time selected by the Administrator over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to a Performance Cash Award or an Award of
Restricted Shares or Stock Units that vests based on the achievement of Performance Goals. Performance Periods may be of varying and overlapping duration, at the discretion of the Administrator. 

  
 16 

 14.26 “Plan” means this REGENXBIO Inc. 2015 Equity Incentive Plan, as amended
from time to time. 
 14.27 “Predecessor Plan” means the Company’s 2014 Stock Plan, as amended. 

14.28 “Registration Date” means the effective date of the registration statement filed by the Company with the Securities and
Exchange Commission pursuant to Form S-1. 
 14.29 “Restricted Share” means a Common Share awarded under the Plan. 

14.30 “Restricted Stock Agreement” means the agreement between the Company and the recipient of a Restricted Share that
contains the terms, conditions and restrictions pertaining to such Restricted Share. 
 14.31 “SAR” means a stock
appreciation right granted under the Plan. 
 14.32 “SAR Agreement” means the agreement between the Company and an Optionee
that contains the terms, conditions and restrictions pertaining to his or her SAR. 
 14.33 “Service” means service as an
Employee, Outside Director or Consultant. 
 14.34 “Service Provider” means any individual who is an Employee, Outside
Director or Consultant. 
 14.35 “Stock Award” means any award of an Option, a SAR, a Restricted Share or a Stock Unit
under the Plan. 
 14.36 “Stock Option Agreement” means the agreement between the Company and an Optionee that contains the
terms, conditions and restrictions pertaining to his or her Option. 
 14.37 “Stock Unit” means a bookkeeping entry
representing the equivalent of one Common Share, as awarded under the Plan. 
 14.38 “Stock Unit Agreement” means the
agreement between the Company and the recipient of a Stock Unit that contains the terms, conditions and restrictions pertaining to such Stock Unit. 

14.39 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the
Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation
that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date 

  
 17 

 14.40 “Substitute Awards” means Awards or Common Shares issued by the Company in
assumption of, or substitution or exchange for, Awards previously granted, or the right or obligation to make future awards, in each case by a corporation acquired by the Company or any Affiliate or with which the Company or any Affiliate combines
to the extent permitted by NASDAQ Marketplace Rule 5635 or any successor thereto. 

  
 18 

 APPENDIX A 

PERFORMANCE CRITERIA 

The Administrator may establish Performance Goals derived from one or more of the following criteria when it makes Awards of Restricted Shares or Stock Units
that vest entirely or in part on the basis of performance or when it makes Performance Cash Awards: 
  

			
		
	 •    Earnings (before or after taxes)
	  	 •    Sales or revenue (using a measure thereof that complies with Section 162(m))

		
	 •    Earnings per share
	  	 •    Expense or cost reduction

		
	 •    Earnings before interest, taxes and depreciation
	  	 •    Working capital

		
	 •    Earnings before interest, taxes, depreciation and amortization
	  	 •    Economic value added (or an equivalent metric)

		
	 •    Total stockholder return
	  	 •    Market share

		
	 •    Return on equity or average stockholders’ equity
	  	 •    Cash measures including cash flow and cash balance

		
	 •    Return on assets, investment or capital employed
	  	 •    Operating cash flow

		
	 •    Operating income
	  	 •    Cash flow per share

		
	 •    Gross margin
	  	 •    Share price

		
	 •    Operating margin
	  	 •    Debt reduction

		
	 •    Net operating income
	  	 •    Customer satisfaction

		
	 •    Net operating income after tax
	  	 •    Stockholders’ equity

		
	 •    Return on operating revenue
	  	 •    Contract awards or backlog

		
	 •    Objective corporate or individual strategic goals
	  	 •    Objective individual performance goals

	
	 •    To the extent that an Award is not intended to comply with Code Section 162(m), other
measures of performance selected by the Administrator

  
 19EX-10.9

 Exhibit 10.9 

CONFIDENTIAL TREATMENT REQUESTED 

UNIVERSITY of PENNSYLVANIA 

License Agreement 
 This
License Agreement (this “Agreement”) is between The Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation (“Penn”), and ReGenX, LLC, a Delaware limited liability company
(“Company”). This Agreement is being signed on February 20, 2009 (the “Execution Date”). This Agreement will be effective on February 24, 2009 (the “Effective Date”). 

BACKGROUND 
 Penn owns
certain intellectual property developed by Dr. James M. Wilson, M.D., Ph.D. of Penn’s School of Medicine (“Dr. Wilson”) relating to a gene therapy technology platform based on certain novel adeno associated
viruses discovered by Dr. Wilson at Penn. Penn also owns certain letters patent and/or applications, including provisional patent applications, for letters patent relating to the intellectual property. The Company desires to obtain an exclusive
license under the patent rights and related know how to exploit the intellectual property relating to the gene therapy technology platform. Company also desires to fund further research by Dr. Wilson under a separate sponsored research
agreement and to obtain an exclusive option under such sponsored research agreement to negotiate for an exclusive license in any intellectual property created, conceived or reduced to practice pursuant to such SRA. Penn has determined that the
exploitation of the intellectual property by Company is in the best interest of Penn and is consistent with its educational and research missions and goals. 

In consideration of the mutual obligations contained in this Agreement, and intending to be legally bound, the parties agree as follows: 

1. LICENSE 
 1.1 License Grants.

 (a) License to Patent Rights. Subject to the limitations set forth in Section 1.1(b) Penn hereby grants to Company an exclusive,
worldwide license under the Patent Rights to make, have made, use, import, offer for sale and sell Licensed Products in the Field of Use during the Term (as such terms may be defined in Section 1.2)(the “Patent License”). The
Patent License includes the right to sublicense as permitted by this Agreement. 
 (b) Limitations With Respect to Certain Patent Rights.

 (i) The parties acknowledge that with respect to the patents and patent applications listed on Exhibit B-1 only (the “****
Licensed Patents”), Penn has already granted a nonexclusive license to **** pursuant to the agreement identified in Exhibit B-1 (the “**** License”). Accordingly, the rights granted to Penn herein with respect to the ****
Licensed Patents only shall be nonexclusive for so long as such preexisting license grant remains in effect. Penn shall have no right to grant or authorize any third party to grant any further rights or licenses in the Field of Use with respect to
the **** Licensed Patents during the Term and the rights granted to Company with respect to the **** Licensed Patents shall 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 automatically become exclusive upon the expiration or termination of the existing
license under the **** License without further action by either party. Penn will promptly notify Company of any change with respect to the rights licensed pursuant to the **** License. 

(ii) The parties acknowledge that with respect to the patents and patent applications listed on Exhibit B-2 only (the “GSK Licensed
Patents”), Penn has already granted a license to SmithKline Beecham Corporation dba GlaxoSmithKline (“GSK”) pursuant to the agreement identified in Exhibit B-2 (the “GSK License”). The parties agree that
for long as GSK maintains a license to the GSK Licensed Patents in the Field of Use, the rights granted herein with respect to the GSK Licensed Patents only will be subject to the rights granted to GSK prior to the Effective Date. The parties
acknowledge that Company is seeking a sublicense under the GSK Licensed Patents directly from GSK and understand that Penn may receive royalties (“Company Sublicense Royalty Revenues”) or other payments (“Company Sublicense
Non-Royalty Revenues”) under the GSK License as a result of sublicenses granted to the Company. The parties agree that any Company Sublicense Royalty Revenues shall be offset against any amounts due to Penn hereunder. ****. Penn shall have
no right to grant or authorize any third party to grant any further rights or licenses in the Field of Use with respect to the GSK Licensed Patents during the Term and to the extent any rights with respect to the GSK Licensed Patents in the Field of
Use revert to Penn whether through expiration or termination of the GSK License, by contract or otherwise, such rights shall be automatically included within the scope of the license granted pursuant to Section 1.1(a) without further action by
either party. Penn will promptly notify Company of any change with respect to the rights licensed pursuant to the GSK License. 
 (c) License
to Background Know-How. Penn hereby grants to Company a non-exclusive, worldwide, license (the “Background Know-How License”) under the Background Know-How to make, have made, use, import, offer for sale and sell and otherwise
exploit Licensed Products in the Field of Use and to practice the Licensed Processes in connection with the exercise of the foregoing rights in 1.1(a) and 1.1(b) (as such terms may be defined in Section 1.2). The Background Know-How License
includes the right to sublicense as permitted by this Agreement. ****. 
 (d) No Other Licenses. Except as expressly provided in this
Section 1.1, no other rights or licenses are granted by Penn. Any intellectual property created or conceived during the performance of the Sponsored Research Agreement between Penn and Company being entered into simultaneously with this
Agreement (the “SRA”) will be governed by the terms of the SRA. 
 1.2 Related Definitions. 

“Affiliate” means a legal entity that is controlling, controlled by or under common control with Company and that has executed
either this Agreement or a written Joinder Agreement agreeing to be bound by all of the terms and conditions of this Agreement. For purposes of this 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Section 1.2, the word “control” means (x) the direct or
indirect ownership of more than fifty percent (50%) of the outstanding voting securities of a legal entity, (y) the right to receive fifty percent (50%) or more of the profits or earnings of a legal entity, or (z) the right to
determine the policy decisions of a legal entity. 
 “Background Know-How” means all Know-How that (a) was developed
by Dr. Wilson , or other Penn researchers working under his direct supervision, at Penn, and (b) is related to the adeno associated virus technology platform discovered by Dr. Wilson at Penn prior to the date hereof, and (c) is
owned by Penn, (d) is necessary or useful for the practice of the Patent Rights in connection with the manufacture, use, sale, importation and/or other exploitation of the Licensed Products or the practice of the Licensed Processes in the
Territory in the Field of Use, including, without, limitation, any Know-How necessary for the Company to the manufacture or have manufactured the materials produced by the Penn Vector Core or Dr. Wilson’s lab at Penn. 

“Field of Use” means any and all fields of use. 

“Know-How” means any and all information, discoveries, software, methods, works of authorship, techniques, formulae, data,
biological materials, processes, unpatentable inventions and other know-how, not including the Patent Rights, developed prior to the Effective Date. 

“Licensed IP” means the Patent Rights and Background Know-How. 

“Licensed Process” means any process or machine covered by the Licensed IP or any claim thereof, whether or not the claim is
issued or pending. 
 “Licensed Products” means any products that are made, made for, used, imported, offered for sale or
sold by or for Company or its Affiliates or sublicensees and that either (i) in the absence of this Agreement, would infringe or misappropriate the Licensed IP, or any claim thereof whether or not the claim is issued or pending, or
(ii) use, or are manufactured using, a Licensed Process. Licensed Products include Licensed Pharmaceutical Products and Licensed Reagents. 

“Licenses” means the Patent License and the Background Know-How License. 

“Patent Rights” means (i) all of Penn’s patent rights represented by or issuing from the United States patents and
patent applications (including provisional patent applications) listed in Exhibit A, as well as any continuations, continuations-in-part (to the extent the inventions claimed or disclosed in any such patent or patent applications are directed to
subject matter specifically described in the patent or patent applications listed in Exhibit A), divisionals, reexaminations, renewals, re-issues, substitutions, extensions and foreign counterparts of any of the foregoing, and all other patents and
patent applications that claim priority from or have common priority with any of the foregoing patents and patent applications, (to the extent the inventions claimed or disclosed in any such patent or patent applications are directed to subject
matter specifically described in the patent or patent applications listed in Exhibit A) and including any patents issuing from any of the foregoing; and (ii) all patentable inventions (to the extent they are or become available for license)
that (a) were discovered by Dr. Wilson, or other Penn researchers working under his direct supervision, at Penn prior to the Effective Date hereof, and (b) are related to the adeno associated virus technology platform discovered by
Dr. Wilson at Penn prior to the date hereof, and (c) are owned by Penn. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 “SRA” means the Sponsored Research Agreement between
the Company and Penn entered into simultaneously herewith, or thereafter. 
 “Territory” means worldwide. 

1.3 Reservation of Rights by Penn. Penn reserves the fully-paid, royalty free right to use, and to permit other non-commercial entities
to use, the Patent Rights, but not to authorize any commercial third party to use, the Patent Rights solely for educational and research purposes. 

1.4 U.S. Government Rights. The parties acknowledge that the United States government retains rights in intellectual property funded
under any grant or similar contract with a Federal agency. The License is expressly subject to all applicable United States government rights, including, but not limited to, any applicable requirement that products, which result from such
intellectual property and are sold in the United States, must be substantially manufactured in the United States. 
 1.5 Sublicense
Conditions. The Company’s right to sublicense granted by Penn under the License is subject to each of the following conditions: 

(a) Within **** after Company enters into a sublicense agreement, Company will deliver to Penn a complete and accurate copy of the entire
executed sublicense agreement written in the English language. 
 (b) In each sublicense agreement, Company will require the sublicensee, and
any further sublicensees, to comply with the terms and conditions of this Agreement. 
 (c) Company’s execution of a sublicense
agreement will not relieve Company of any of its obligations under this Agreement. ****. 
 2. DILIGENCE 

2.1 Development Plan. Company will deliver to Penn, on or before the first anniversary of the Effective Date, a copy of the
Company’s development plan for the Patent Rights (the “Development Plan”). The purpose of the Development Plan is (a) to present the Company’s strategy to bring the Patent Rights to commercialization, (b) to
project the timeline for completing the necessary tasks to accomplish the goals of the strategy. Company will provide Penn with a written update to the Development Plan at least once every two years after the Effective Date. 

2.2 Company’s Efforts. Company will use commercially reasonable efforts to develop, commercialize, market and sell a Licensed
Product in any part of the Territory. Commercially reasonable efforts shall mean efforts consistent with those utilized by **** 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 ****. The Company will achieve each of the diligence events by the applicable completion
date listed in the table below for the first Licensed Product: 
  

			
	 DILIGENCE EVENT
	  	 COMPLETION DATE

	 ****
	  	****
	 ****
	  	****
	 ****
	  	****

 ****. 
 2.3
Satisfaction of Diligence. Upon the earlier of the satisfaction of each of the Diligence events specified or upon first Sale of a US government drug regulatory agency (or foreign equivalent) approved Licensed Product in the Territory, Company
shall be deemed to have fully satisfied all of its obligations under this Section 2. 
 3. FEES AND ROYALTIES 

3.1 Equity Issuance. In partial consideration for the Licenses, Company will issue to Penn on the Effective Date such number of shares
of Common Stock of the Company as will cause Penn to own at least **** of the capital stock of Company (or ownership units of an LLC, as appropriate) on a fully diluted basis on the Effective Date, assuming the exercise, conversion and exchange of
all outstanding securities of Company for or into shares of Common Stock (or ownership units, as appropriate). The issuance of equity or ownership units to Penn will be pursuant to a Stock Purchase Agreement and a Stockholders Agreement, or their
LLC equivalents, between Company and Penn), the forms of which are attached as Exhibits C and D (the “Equity Documents”). 

3.2 Earned Royalties. In partial consideration of the Licenses, on the terms and subject to the conditions set forth herein, during the
Royalty Term, Company will pay to Penn the following royalty as set forth below: 
 (a) on Net Sales of Licensed Pharmaceutical Products sold
by Company or its Affiliates: 
  

					
	 Licensed Pharmaceutical Products
	  	 RoyaltyPercentage
	  	 ReGenX Annual Net Sales, Cumulative (Million)

	 1.      Using Novel AAV
	  	****	  	Up to $300;

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

					
		  	****	  	Greater than or equal to $300 and up to $600
		  	****	  	Greater than or equal to $600
	 2.      Using Refinement or Modification to existing AAV
	  	****	  	Up to $300;
		  	****	  	Greater than or equal to $300 and up to $600
		  	****	  	Greater than or equal to $600

 (b) on Net Sales of Licensed Reagents sold by Company or its Affiliates or sublicensees: 

 

					
	 Licensed Reagents
	  	 Royalty Percentage
	  	 ReGenX Annual Net Sales, Cumulative
(Million)

	 1.      Using Novel AAV
	  	****	  	Up to $10;
		  	****	  	Greater than or equal to $10 and up to $20
		  	****	  	Greater than or equal to $20
	 2.      Using Refinement or Modification to existing AAV
	  	****	  	Up to $10;
		  	****	  	Greater than or equal to $10 and up to $20
		  	****	  	Greater than or equal to $20

 (c) on royalties received by Company from third parties on Net Sales of Licensed Pharmaceutical Products by
such third parties: 
  

					
	 Licensed Pharmaceutical Products
	  	 Royalty Percentage
	  	 Third Party Annual Net Sales, Cumulative
(Million)

	 1.      Using Novel AAV
	  	****	  	Up to $300;
		  	****	  	Greater than or equal to $300 and up to $600
		  	****	  	Greater than or equal to $600

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

					
	 2.      Using Refinement or Modification to existing AAV
	  	****	  	Up to $300;
		  	****	  	Greater than or equal to $300 and up to $600
		  	****	  	Greater than or equal to $600

 To meet the requirements of the term “Novel AAV” (as used in Category 1), there must be neither any dominating third
party patent nor any Penn-owned patent rights other than those licensed under this Agreement with respect to the vector per se (i.e., no third party patent or Penn-owned patent rights beyond those licensed under this Agreement is required in order
to make, have made, use, import, offer for sale or sell the vector for the higher royalty level to apply). Licenses from Penn to ReGenX for genes used, promoters used other than those which are part of the vector as described in Penn Patent Rights
and the like in the vector will not affect the royalty pursuant to this provision. If any dominating third party patent or any Penn-owned patent other than those licensed under this Agreement issues at any time during the term of this Agreement with
respect to a vector licensed hereunder, then the royalty level will immediately drop to the “Refinement” level (Category 2 above) for any Licensed Product containing such vector. 

Notwithstanding the foregoing (i) in no event shall the **** paid to Penn by the Company pursuant to (c) above, **** that would be payable to Penn
by the Company on such Net Sales of Licensed Pharmaceutical Products sold by Company and (ii) in no event shall **** be payable in connection with any ****. No royalties other than the payments set forth herein shall be due in connection with
the exercise of the rights granted herein. ****. 
 3.5 Sublicense Fees. In partial consideration of the Licenses, and subject to the
terms and conditions set forth herein, Company will pay to Penn a sublicense fee equal to the following percentage of the sum of all fees and milestone payments received by Company from sublicensees from the grant of sublicenses (including options
to obtain a sublicense) of the Licensed Intellectual Property during the Quarter (“Sublicensing Revenues”): 
  

					
	 Date of Sublicense Grant
	  	Sublicensing
Fees	 
	 During the period commencing on the Effective Date and ending on the day prior to the fourth anniversary of the Effective Date
	  	 	*	*** 
	 Any date on or after the fourth anniversary of the Effective Date
	  	 	*	*** 

 Sublicensing Revenues shall not include (a) royalties paid to Company by a sublicensee based upon Sales or Net Sales by
the sublicensee; (b) equity investments in Company by a sublicensee and any other non-cash consideration; (c) loan proceeds paid to Company by a sublicensee in an arms length, full recourse debt financing to the extent that such loan is
not forgiven; (d) sponsored research funding paid to Company by a sublicensee in a bona fide transaction for future research to be performed by Company. 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 ****. 

3.8 Related Definitions. 

“Fair Market Value” means the cash consideration that Company or its Affiliates or sublicensees would realize from an
unrelated buyer in an arms length sale of an identical item sold in the same quantity and at the time and place of the transaction. The Fair Market Value shall be determined jointly by Penn and Company based on transactions of a similar type and
standard industry practice, if any. 
 “Licensed Pharmaceutical Products” means all Licensed Products other than Licensed
Reagents, including, without limitation, any Licensed Product that is intended for therapeutic use. 
 “Licensed Reagents”
means a Licensed Product that is intended for research uses only, excluding any research uses in humans. 
 “Net Sales”
means the total cash consideration received by Company or its Affiliates ****. 
 “Qualifying Costs” means: (a) ****. 

“Quarter” means each three-month period beginning on January 1, April 1, July 1 and October 1. 

“Royalty Term” means, on a product-by-product, country-by-country basis with respect to Licensed Products, the period
commencing on the date of the first Sale of such Licensed Product and ending on the date the Licensed Product ceases to be covered by a valid claim (issued or pending) of the Patent Rights. 

“Sale” means any bona fide transaction for which consideration is received by Company or its Affiliate or sublicensee for the
sale, use, lease, transfer or other disposition of a Licensed 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Product to an unaffiliated third party. A Sale is deemed completed at the time that
Company or its Affiliate or sublicensee receives payment for the Licensed Product. 
 3.9 Payment Reductions. In the event that during
the Royalty Period, litigation between Company and a third party commences involving the Licensed IP, and the third party has launched a competitive product, until such litigation is finally settled or adjudicated pursuant to a nonappealable final
order by a court of competent jurisdiction, or a final and binding order issued pursuant to an alternative dispute resolution procedure, ****. If following such verdict, Company is permitted to continue selling Licensed Products or the competitive
product is prevented from entering or further sale in the applicable country in the territory by one or more valid claims of the Licensed Patent Rights, ****. If following such verdict, Company is prohibited from continuing to sell Licensed
Products, ****. 
 4. REPORTS AND PAYMENTS 

4.1 Royalty Reports. Within **** after the end of each Quarter following the first Sale, Company will deliver to Penn a report,
certified by the chief financial officer of Company, detailing the calculation of all royalties, fees and other payments due to Penn for such Quarter. The report will include the following information for the Quarter, each listed by product, by
country: (a) the number of units of Licensed Products constituting Sales; (b) the gross consideration received for Sales; (c) Qualifying Costs, listed by category of cost; (d) Net Sales; (e) the gross amount of any
qualifying payments and other consideration received by Company from sublicensees; (f) amounts of any deductions permitted by Section 3.9; (g) the royalties, fees and other payments owed to Penn, listed by category; and (h) the
computations for any applicable currency conversions. Each royalty report will be substantially in the form of the sample report attached as Exhibit E. 

4.2 Payments. Company will pay all royalties, fees and other payments due to Penn under Sections 3.2, 3.3, 3.4, 3.5, 3.6 and 3.7 within
**** after the end of the Quarter in which the royalties, fees or other payments accrued. 
 4.3 Records. Company will maintain, and
will cause its Affiliates and sublicensees to maintain, complete and accurate books, records and related background information to verify Sales, Net Sales, and all of the royalties, fees, and other payments due or paid under this Agreement, as well
as the various computations reported under Section 4.1. The records for each Quarter will be maintained for at least **** after submission of the applicable report required under Section 4.1. 

4.4 Audit Rights. Upon reasonable prior written notice to Company, Company and its Affiliates and sublicensees will provide Penn and its
accountants with access to all of the books, records and related background information required by Section 4.3 to conduct a review or audit of Sales, Net Sales, and all of the royalties, fees, and other payments payable or paid under this
Agreement. Access will be made available: (a) during normal business hours; (b) in a manner reasonably designed to facilitate Penn’s review or audit without unreasonable disruption to Company’s business; and (c) no more than
once each calendar year during the Term (as defined below) and for a period of **** thereafter. Company will promptly pay to Penn 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 the amount of any underpayment determined by the review or audit, plus accrued interest.
If the review or audit determines that Company has underpaid any payment by **** or more, then Company will also promptly pay the costs and expenses of Penn and its accountants in connection with the review or audit. 

4.5 Currency. All dollar amounts referred to in this Agreement are expressed in United States dollars. All payments will be made in
United States dollars. If Company receives payment from a third party in a currency other than United States dollars for which a royalty or fee or other payment is owed under this Agreement, then (a) the payment will be converted into United
States dollars at the conversion rate for the foreign currency as published in the eastern edition of the Wall Street Journal as of the last business day of the Quarter in which the payment was received by Company, and (b) the conversion
computation will be documented by Company in the applicable report delivered to Penn under Section 4.1. 
 4.6 Place of Payment.
All payments by Company are payable to “The Trustees of the University of Pennsylvania” and will be made to the following addresses: 
  

			
	 By Electronic Transfer:
	  	 By Check:

	Wachovia Bank, N.A.	  	The Trustees of the University of Pennsylvania
	ABA #****	  	c/o Center for Technology Transfer
	Account Number: ****	  	PO Box 785546
	Center for Technology Transfer	  	Philadelphia, PA 19178-5546
	Attention: ****	  	

 4.7 Interest. All amounts that are not paid by Company when due will accrue interest from the date due
until paid at a rate equal to one and one-half percent (1.5%) per month (or the maximum allowed by law, if less). 
 5. CONFIDENTIALITY AND USE OF
PENN’S NAME 
 5.1 Confidentiality Agreement. If Company and Penn entered into one or more Confidential Disclosure Agreements
prior to the Effective Date, then such agreements will continue to govern the protection of confidential information under this Agreement, and each Affiliate and sublicensee of Company will be bound to Company’s obligations under such
agreements. If, however, no Confidential Disclosure Agreement has been entered into between Company and Penn prior to the Effective Date, then in connection with the execution of this Agreement, the parties will enter into a Confidential Disclosure
Agreement substantially similar to Penn’s standard form. The term “Confidentiality Agreement” means all Confidential Disclosure Agreements between the parties that remain in effect after the Effective Date. 

5.2 Other Confidential Matters. Penn is not obligated to accept any confidential information from Company, except for the reports
required by Sections 2.1, 4.1, 4.4 and 6.6. Penn, acting through its Center for Technology Transfer and finance offices, will use reasonable efforts not to disclose to any third party outside of Penn any confidential information of Company contained
in those reports, for so long as such information remains confidential. Penn bears no institutional responsibility for maintaining the confidentiality of any other information of Company. Company may elect to enter into confidentiality agreements
with individual investigators at Penn that comply with Penn’s internal policies. 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 5.3 Use of Penn’s Name. Company and its Affiliates,
sublicensees, employees, and agents may not use the name, logo, seal, trademark, or service mark (including any adaptation of them) of Penn or any Penn school, organization, employee, student or representative, without the prior written consent of
Penn. 
 6. TERM AND TERMINATION 
 6.1
Term. This Agreement will commence on Effective Date and end upon the expiration of the Royalty Term (the “Term”). Earned royalties pursuant to Section 3.4 shall only be payable hereunder during the Royalty Term. 

6.2 Early Termination by Company. Company may terminate this Agreement at any time effective upon completion of each of the following
conditions: (a) providing at least sixty (60) days prior written notice to Penn of such intention to terminate; (b) ceasing to make, have made, use, import, offer for sale and sell all Licensed Products; (c) terminating all
sublicenses and causing all Affiliates and sublicensees to cease making, having made, using, importing, offering for sale and selling all Licensed Products; and (d) paying all amounts owed to Penn under this Agreement and any Sponsored Research
Agreement between Penn and Company related to the Patent Rights, through the effective date of termination. 
 6.3 Early Termination by
Penn. Penn may terminate this Agreement if: (a) Company is more than thirty (30) days late in paying to Penn any amounts owed under this Agreement and does not pay Penn in full within thirty (30) days after receipt of written notice
indicating such default and demanding payment, including accrued interest (a “Payment Default”); (b) other than a Payment Default, Company or its Affiliate or sublicensee fails to achieve a diligence event on or before the
applicable completion date or otherwise breaches this Agreement and does not cure such failure or breach within sixty (60) days after written notice of the breach; or (c) Company or its Affiliate or sublicensee experiences a Trigger Event. 

6.4 Trigger Event. The term “Trigger Event” means any of the following: (a) if Company or its Affiliate or
sublicensee (i) becomes insolvent, bankrupt or generally fails to pay its debts as such debts become due, (ii) is adjudicated insolvent or bankrupt, (iii) admits in writing its inability to pay its debts, (iv) suffers the
appointment of a custodian, receiver or trustee for it or its property and, if appointed without its consent, not discharged within thirty (30) days, (v) makes an assignment for the benefit of creditors, or (vi) suffers proceedings being
instituted against it under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of debtors and, if contested by it, not dismissed or stayed within ten (10) days; (b) the institution or
commencement by Company or its Affiliate or sublicensee of any proceeding under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of debtors; (c) the entering of any order for relief relating
to any of the proceedings described in Section 6.4(a) or (b) above; (d) the calling by Company or its Affiliate or sublicensee of a meeting of its creditors with a view to arranging a composition or adjustment of its debts;
(e) the act or failure to act by Company or its Affiliate or sublicensee indicating its consent to, approval of or acquiescence in any of the proceedings described in Section 6.4(b) — (d) above; or (f) the commencement by
Company of any action against Penn, including an action for declaratory judgment, to declare or render invalid or unenforceable the Patent Rights, or any claim thereof. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 6.5 Effect of Termination. Upon the valid early termination of
this Agreement pursuant to Section 6.2 or 6.3: (a) the Licenses shall terminate; (b) Company and all its Affiliates and sublicensees will cease all making, having made, using, importing, offering for sale and selling all Licensed
Products and practicing the Licensed Processes; (c) Company will pay to Penn all amounts, including accrued interest, owed to Penn under this Agreement and any Sponsored Research Agreement related to the Patent Rights, through the date of
termination, including royalties on Licensed Products invoiced or shipped through the date of termination when such payments are received, whether or not payment is received prior to termination; (d) each Party will, at the other Party’s
request, return to such Party all confidential information of such Party; and (e) except as provided in Section 6.6, all rights and duties of Penn and the Company under this Agreement immediately terminate without further action required
by either Penn or Company. 
 6.6 Survival. Company’s obligation to pay all amounts, including accrued interest, owed to Penn
under this Agreement will survive the termination of this Agreement for any reason. Sections 13.9 and 13.10 and Articles 4, 5, 6, 9, 10, and 11 will survive the termination of this Agreement for any reason in accordance with their respective terms.

 7. PATENT PROSECUTION AND MAINTENANCE 

7.1 Patent Control. Except as otherwise provided in this Section 7.1, Penn shall control the preparation, prosecution and
maintenance of the Patent Rights and the selection of patent counsel, with input from Company. If, however, Company desires a greater degree of control over the Patent Rights, then Company and Penn will use good faith efforts to promptly enter into
a Client and Billing Agreement with patent counsel acceptable to the Company in substantially in the form attached as Exhibit F. During the term of the Client and Billing Agreement, Company will control and manage the preparation, prosecution and
maintenance of the Patent Rights, with input from Penn. In the absence of or upon termination of a Client and Billing Agreement for any reason, control reverts to Penn with input from Company. For purposes of this Article 7, the word
“maintenance” includes any interference negotiations, claims, or proceedings, in any forum, brought by Penn, Company, a third party, or the United States Patent and Trademark Office, and any requests by Penn or Company that the
United States Patent and Trademark Office reexamine or reissue any patent in the Patent Rights. 
 7.2 Payment and Reimbursement.
Company will reimburse Penn for (i) **** of all attorneys fees, expenses, official fees and all other charges accumulated **** to the Effective Date incident to the preparation, filing, prosecution and maintenance of the ****, and
(ii) **** of all attorneys fees, expenses, official fees and all other charges accumulated prior to the Effective Date incident to the preparation, filing, prosecution and maintenance of the Patent Rights other than the ****, in the case of
clause (ii) to the extent that such amounts have not already been reimbursed by third parties to Penn, provided that such reimbursement obligation with respect to clauses (i) and (ii) shall not exceed ****. The reimbursement
obligation shall be paid in three equal installments, with the first installment payment becoming due thirty (30) days after the Effective Date and the two remaining payments becoming due on the first and second anniversary dates of the
Effective Date. Thereafter, Company will either pay directly under a Client and Billing Agreement or reimburse Penn for **** documented attorneys fees, expenses, official fees and all other charges accumulated on or after the Effective Date incident
to the preparation, filing, prosecution, and maintenance of the Patent Rights, within **** after Company’s receipt of invoices for such fees, expenses and 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 charges. Except during the term of a Client and Billing Agreement, Penn shall notify the
Company promptly, and in advance to the extent reasonably practicable, of any upcoming expenditures in excess of **** in connection with the Patent Rights. Penn reserves the right to require the Company to provide a deposit in advance of incurring
out of pocket patent expenses estimated by counsel to exceed ****. If Company fails to reimburse patent expenses under Paragraph 7.2, or provide a requested deposit with respect to a Patent Right, then Penn will be free at its discretion and expense
to either abandon such applications or patents related to such Patent Right or to continue such preparation, prosecution and/or maintenance activities, and any patent rights associated with such patent action will be automatically excluded from the
term “Patent Rights” hereunder, on a patent by patent or country by country basis, as applicable. Notwithstanding the foregoing, (i) Company shall have no obligation to pay any amounts pursuant to this Section 7.2 with respect to
the GSK Licensed Patents; (ii) Company’s payment obligations pursuant to this Section 7.2 with respect to the **** shall be limited to **** of the amounts otherwise required to be paid; and (iii) **** payment obligations pursuant
to this Section 7.2 shall be reduced**** by any patent expense reimbursement amounts received by Penn from **** of the Patent Rights. 
 8.
INFRINGEMENT 
 8.1 Notice. Company and Penn will notify each other promptly of any infringement of the Patent Rights that may
come to their attention. Company and Penn will consult each other in a timely manner concerning any appropriate response to the infringement. 

8.2 Prosecution of Infringement. Company may prosecute any infringement of the Patent Rights at Company’s expense, including
defending against any counterclaims or cross claims brought by any party against Company or Penn regarding the Patent Rights and defending against any claim that the Patent or Patent Rights are invalid in the course of any infringement action or in
a declaratory judgment action. Penn reserves the right to intervene voluntarily and join Company in any such infringement litigation. If Penn chooses not to intervene voluntarily, but Penn is a necessary party to the action brought by Company, then
Company may join Penn in the infringement litigation provided that Penn shall have the right to retain its own counsel, reasonably acceptable to Company, and Company will be responsible for **** of Penn’s reasonable litigation expenditures
including any attorney’s fees, expenses, official fees and other charges incurred by Penn, even if there are no financial recoveries from the infringement action. Company will reimburse Penn within **** after receiving each invoice from Penn.
If Company decides not to prosecute any infringement of the Patent Rights, then Penn may elect to prosecute such infringement independently of Company in Penn’s sole discretion, and at Penn’s expense. 

8.3 Cooperation. In any litigation under this Article 8, either party, at the request and sole expense of the other party, will
cooperate to the fullest extent reasonably possible. This Section 8.3 will not be construed to require either party to undertake any activities, including legal discovery, at the request of any third party, except as may be required by lawful
process of a court of competent jurisdiction. If, however, either party is required to undertake any activity, including legal discovery, as a right of lawful process of a court of competent jurisdiction, then Company will pay all expenses incurred
by Company and by Penn. 
  
 ****CERTAIN INFORMATION
HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 8.4 Control of Litigation. Company controls any litigation or
potential litigation involving the prosecution of infringement claims regarding the Patent Rights, including the selection of counsel, all with input from Penn. Notwithstanding the foregoing, Penn shall have the right to approve all decisions that
would have a materially adverse affect on the validity, scope of patent claims, or enforceability of the Patent Rights. Company must not settle or compromise any such litigation in a manner that imposes any obligations or restrictions on Penn or
grants any rights to the Patent Rights, other than any permitted sublicenses, without Penn’s prior written permission. In all instances in which Penn is a voluntary party, Penn reserves the right to select its own counsel, at its own expense.
Penn shall have the right to control all litigation regarding the Patent Rights which is prosecuted by Penn independent of Company. 
 8.5
Recoveries from Litigation. Except as expressly provided in this Section 8.5, if Company prosecutes any infringement claims, Company will use the financial recoveries from such claims, if any, (a) first, to reimburse **** for its
litigation expenditures; and (b) second, to retain any remainder but to treat the remainder as **** for the purpose of determining ****. If Company prosecutes any infringement claims with Penn joined as a voluntary party, then Company will use
the financial recoveries from such claims, if any, (a) first, to reimburse **** and the **** for their respective litigation expenditures on a dollar-for-dollar basis; and (b) second, to retain any remainder but to ****. If Penn prosecutes
any infringement claims independent of ****, then Penn will prosecute such infringement at **** expense and will retain any financial recoveries ****. 

9. REPRESENTATIONS AND WARRANTIES; DISCLAIMER OF WARRANTIES 

9.1 Mutual Representations and Warranties. Each party represents and warrants to the other party that Party that: (a) this
Agreement is and shall be a legal and valid obligation binding upon such Party and enforceable in accordance with its terms; and (b) the execution, delivery and performance of this Agreement by such Party have been duly authorized by all
necessary corporate and institutional action and do not and will not: (i) require any consent or approval of its stockholders or Trustees; or (ii) to such Party’s knowledge, violate any law, rule, regulation, order, writ, judgment,
decree, determination or award of any court, governmental body or administrative or other agency having jurisdiction over such Party. 
 9.2
Representations and Warranties of Penn. Penn represents and warrants to Company that to the knowledge of the current staff of Penn’s Center for Technology (“CTT”): 

(a) Penn has no commercial license agreements in effect as of the Effective Date, with third parties under the Patent Rights, other than to the
US government; 
 (b) CTT has obtained from Dr. Wilson and the employees he has designated as being involved in the development of the
Patent Rights an assignment of rights necessary to permit Penn to grant the Company the Licenses and make the representation set forth in Section 9.2(a) above; 

(d) (i) there are no actual, pending actions, suits, claims, interferences, oppositions or governmental investigations involving Patent Rights;
(ii) the Patent Rights are not subject 
  
 ****CERTAIN
INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 anywhere in the Territory to any pending re-examination, protest,
opposition, interference or litigation proceeding. 
 9.3 Disclaimer. EXCEPT AS EXPRESSLY PROVIDED HEREIN, THE PENN PATENT RIGHTS,
LICENSED PRODUCTS AND ANY OTHER TECHNOLOGY LICENSED UNDER THIS AGREEMENT ARE PROVIDED ON AN “AS IS” BASIS. PENN MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF ACCURACY,
COMPLETENESS, PERFORMANCE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, PROFITABILITY, COMMERCIAL UTILITY, NON-INFRINGEMENT OR TITLE. 
 10.
LIMITATION OF LIABILITY 
 10.1 Limitation of Liability. PENN WILL NOT BE LIABLE TO COMPANY, ITS AFFILIATES, SUBLICENSEES,
SUCCESSORS OR ASSIGNS, OR ANY THIRD PARTY WITH RESPECT TO ANY CLAIM: ARISING FROM COMPANY’S USE OF THE PENN PATENT RIGHTS, LICENSED PRODUCTS OR ANY OTHER TECHNOLOGY LICENSED UNDER THIS AGREEMENT; OR ARISING FROM THE DEVELOPMENT, TESTING,
MANUFACTURE, USE OR SALE OF LICENSED PRODUCTS. PENN WILL NOT BE LIABLE TO COMPANY, ITS AFFILIATES, SUBLICENSEES, SUCCESSORS OR ASSIGNS, OR ANY THIRD PARTY FOR LOST PROFITS, BUSINESS INTERRUPTION, OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL
DAMAGES OF ANY KIND. 
 11. INDEMNIFICATION 

11.1 Indemnification. Company will defend, indemnify, and hold harmless each Indemnified Party from and against any and all Liabilities
with respect to an Indemnification Event. The term “Indemnified Party” means each of Penn and its trustees, officers, faculty, students, employees, contractors, and agents. The term “Liabilities” means all damages,
awards, deficiencies, settlement amounts, defaults, assessments, fines, dues, penalties, costs, fees, liabilities, obligations, taxes, liens, losses, lost profits and expenses (including, but not limited to, court costs, interest and reasonable fees
of attorneys, accountants and other experts) that are incurred by an Indemnified Party or awarded or otherwise required to be paid to third parties by an Indemnified Party. The term “Indemnification Event” means any Claim against
one or more Indemnified Parties to the extent arising out of or resulting from: ****. The term “Claim” means any charges, complaints, actions, suits, proceedings, hearings, investigations, claims or demands. 

 
 ****CERTAIN INFORMATION HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS
BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 11.2 Reimbursement of Costs. Company will pay directly all
Liabilities incurred for defense or negotiation of any Claim or will reimburse Penn for all documented Liabilities incident to the defense or negotiation of any Claim within **** after Company’s receipt of invoices for such fees, expenses and
charges. 
 11.3 Control of Litigation. Company controls any litigation or potential litigation involving the defense of any Claim,
including the selection of counsel, with input from Penn. 
 11.4 Other Provisions. Company will not settle or compromise any Claim
giving rise to Liabilities in any manner that imposes any restrictions or obligations on Penn or grants any rights to the Licensed IP or the Licensed Products without Penn’s prior written consent. If Company fails or declines to assume the
defense of any Claim within thirty (30) days after notice of the Claim, or fails to reimburse an Indemnified Party for any Liabilities pursuant to Sections 11.1 and 11.2 within the thirty (30) day time period set forth in
Section 11.2, then Penn may assume the defense of such Claim for the account and at the risk of Company, and any Liabilities related to such Claim will be conclusively deemed a liability of Company. The indemnification rights of the Indemnified
Parties under this Article 11 are in addition to all other rights that an Indemnified Party may have at law, in equity or otherwise. 
 12. INSURANCE

 12.1 Coverages. Company will procure and maintain insurance policies for the following coverages with respect to personal
injury, bodily injury and property damage arising out of Company’s performance under this Agreement: (a) during the Term, comprehensive general liability, including broad form and contractual liability, in a minimum amount of **** combined
single limit per occurrence and in the aggregate; (b) prior to the commencement of clinical trials involving Licensed Products, clinical trials coverage in a minimum amount of **** combined single limit per occurrence and in the aggregate; and
(c) prior to the Sale of the first Licensed Product, product liability coverage, in a minimum amount of **** combined single limit per occurrence and in the aggregate. Penn may review periodically the adequacy of the minimum amounts of
insurance for each coverage required by this Section 12.1, ****. The required minimum amounts of insurance do not constitute a limitation on Company’s liability or indemnification obligations to Penn under this Agreement. 

12.2 Other Requirements. The policies of insurance required by Section 12.1 will be issued by an insurance carrier with an A.M.
Best rating of **** or better and will name Penn as an additional insured with respect to Company’s performance under this Agreement. Company will provide Penn with insurance certificates evidencing the required coverage within **** after the
Effective Date and the commencement of each policy period and any renewal periods. Each certificate will provide that the insurance carrier will notify Penn in writing at least **** prior to the cancellation or material change in coverage. 

13. ADDITIONAL PROVISIONS 
 13.1
Independent Contractors. The parties are independent contractors. Nothing contained in this Agreement is intended to create an agency, partnership or joint venture between the parties. At no time will either party make commitments or incur
any charges or expenses for or on behalf of the other party. 
  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 13.2 No Discrimination. Neither Penn nor Company will
discriminate against any employee or applicant for employment because of race, color, sex, sexual or affectional preference, age, religion, national or ethnic origin, handicap, or veteran status. 

13.3 Compliance with Laws. Company must comply with all prevailing laws, rules and regulations that apply to its activities or
obligations under this Agreement. For example, Company will comply with applicable United States export laws and regulations. The transfer of certain technical data and commodities may require a license from the applicable agency of the United
States government and/or written assurances by Company that Company will not export data or commodities to certain foreign countries without prior approval of the agency. Penn does not represent that no license is required, or that, if required, the
license will issue. 
 13.4 Modification, Waiver & Remedies. This Agreement may only be modified by a written amendment that
is executed by an authorized representative of each party. Any waiver must be express and in writing. No waiver by either party of a breach by the other party will constitute a waiver of any different or succeeding breach. Unless otherwise
specified, all remedies are cumulative. 
 13.5 Assignment & Hypothecation. Neither Party may assign this Agreement or any
part of it to any entity, other than an Affiliate, without the prior written consent of the other Party, such consent not to be unreasonably withheld or delayed. Notwithstanding the foregoing, Company shall be permitted to assign this Agreement,
without the prior written consent of Penn, pursuant to a merger or sale of all or substantially all of the assets to which the Agreement relates to a company in the business of developing and commercializing pharmaceutical products that has,
together with its affiliates, a market value or, in the case of a publicly traded company listed on a nationally recognized exchange, market capitalization, of at least $250,000,000. As part of any permitted assignment, the assigning party will
require any assignee to agree in writing to be legally bound by this Agreement to the same extent as the assigning party. The non-assigning party will not unreasonably withhold or delay its consent, provided that: (a) at least thirty
(30) days before the proposed transaction, the assigning party gives the non-assigning party written notice and such background information as may be reasonably necessary to enable the non-assigning party to give an informed consent;
(b) the assignee agrees in writing to be legally bound by this Agreement; and (c) the assigning party provides the non-assigning party with a copy of assignee’s undertaking. Any permitted assignment will not relieve the assigning
party of responsibility for performance of any obligation of the assigning party that has accrued at the time of the assignment. Further, in the event of assignment to an Affiliate, the assigning party will assume responsibility to ensure that
Affiliate assignee complies fully with all of its obligations under the Agreement on an ongoing basis. Neither party will grant a security interest in the Licenses or this Agreement during the Term. Any prohibited assignment or security interest
will be null and void. 
 13.6 Notices. Any notice or other required communication (each, a “Notice”) must be in
writing, addressed to the party’s respective Notice Address listed on the signature page, and delivered: (a) personally; (b) by certified mail, postage prepaid, return receipt requested; (c) by recognized overnight courier
service, charges prepaid; or (d) by facsimile. A Notice will be deemed received: if delivered personally, on the date of delivery; if mailed, five (5) days after deposit in the United States mail; if sent via courier, one (1) business
day after deposit with the 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 courier service; or if sent via facsimile, upon receipt of confirmation of transmission
provided that a confirming copy of such Notice is sent by certified mail, postage prepaid, return receipt requested. 
 13.7
Severability & Reformation. If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, then the remaining provisions of this Agreement will remain in full force and effect. Such
invalid or unenforceable provision will be automatically revised to be a valid or enforceable provision that comes as close as permitted by law to the parties’ original intent. 

13.8 Headings & Counterparts. The headings of the articles and sections included in this Agreement are inserted for convenience
only and are not intended to affect the meaning or interpretation of this Agreement. This Agreement may be executed in several counterparts, all of which taken together will constitute the same instrument. 

13.9 Governing Law. This Agreement will be governed in accordance with the laws of the Commonwealth of Pennsylvania, without giving
effect to the conflict of law provisions of any jurisdiction. 
 13.10 Dispute Resolution. If a dispute arises between the parties
concerning any right or duty under this Agreement, then the parties will confer, as soon as practicable, in an attempt to resolve the dispute. If the parties are unable to resolve the dispute amicably, then the parties will submit to the exclusive
jurisdiction of, and venue in, the state and Federal courts located in the Eastern District of Pennsylvania with respect to all disputes arising under this Agreement. 

13.11 Integration. This Agreement with its Exhibits and the Sponsored Research Agreement, the Equity Documents, and the Confidentiality
Agreement, contain the entire agreement between the parties with respect to the Patent Rights and the License and supersede all other oral or written representations, statements, or agreements with respect to such subject matter, including but not
limited to the Term Sheet. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Each party has caused this Agreement to be executed by its duly authorized
representative. 
  

									
	THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA	 		 	ReGenX, LLC
					
	By:	 	/s/ Mike Cleare	 		 	By:	 	/s/ Kenneth T. Mills
	Name: Mike Cleare	 		 	Name: Kenneth T. Mills
	Title: Executive Director	 		 	Title: Chief Executive Officer
	Center for Technology Transfer	 		 		 	

									
				
	 Address:
	 	 Center for Technology Transfer
 University of
Pennsylvania
 3160 Chestnut Street, Suite 200
 Philadelphia, PA
19104-6283
 Attention: Executive Director
	 		 	 Address: ReGenX, LLC
 750 17th Street, NW
 Washington, DC 20006

Attention: Board of Managers

											
				
	 Required copy to:
	  	 University of Pennsylvania
 Office of General
Counsel
 133 South 36th Street, Suite 300
 Philadelphia, PA
19104-3246
 Attention: General Counsel
	  		  	

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT INDEX 

 

			
	Exhibit A	  	Patents and Patent Applications in Patent Rights
		
	Exhibit B	  	Patents and Patent Applications Subject to Certain Limitations
	        Exhibit B-1	  	 ****

	        Exhibit B-2	  	 GSK Licensed Patents

		
	Exhibit C	  	Form of Stock Purchase Agreement (or LLC unit purchase agreement)
		
	Exhibit D	  	Form of Stockholders Agreement (or LLC unit-holders agreement)
		
	Exhibit E	  	Format of Royalty Report
		
	Exhibit F	  	Form of Patent Management Agreement

  
 ****CERTAIN INFORMATION
HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Exhibit A 

Patents and Patent Applications in Patent Rights 
  

							
	 Penn #
	  	 Disclosure Title
	  	 US Patents
	  	 Foreign Patents

	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

							
		  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  		  	
	****	  	****	  	****	  	****

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

							
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

							
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

  
 ****CERTAIN INFORMATION
HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Exhibit B-1 

**** Licensed Patents 
  

							
	 Penn #
	  	 Disclosure Title
	  	 US Patents
	  	 Foreign Patents

	****	  	****	  	****	  	****

  
 ****CERTAIN INFORMATION
HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Exhibit B-2 

GSK Licensed Patents 
  

							
	 Penn #
	  	 Disclosure Title
	  	 US Patents
	  	 Foreign Patents

	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

  

****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

							
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

  
 ****CERTAIN INFORMATION
HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 [NOTE THAT A PMA CAN BE USED ONLY DURING THE PERIOD WHERE THERE IS
ONLY ONE LICENSEE TO THE PATENT RIGHTS IN ANY FIELD] 
 PATENT MANAGEMENT AGREEMENT 

The Trustees of the University of Pennsylvania (“Penn”), a Pennsylvania non-profit corporation doing business at 3160 Chestnut Street, Suite 200,
Philadelphia, PA 19104-6283; and ______ (“Company”), a corporation doing business at ____________________________________________, have entered into a License Agreement with respect to certain inventions which are the subject of the patent
applications and patents listed in Appendix A hereto, including any continuations, divisions, extensions thereof, and any foreign counterpart patents, applications, or registrations (“Patent Rights”). 

Penn has retained the services of _________________ (“Law Firm”), with offices at ____________, to prepare, file and prosecute the pending patent
applications constituting the Patent Rights and to maintain the patents that issue thereon. 
 Penn, Company and Law Firm, intending to formalize their
business relationships, agree as follows: 
  

	1.	Penn is the owner of the Patent Rights. 

  

	2.	Company is the licensee of Penn’s interest in the Patent Rights. 

  

	3.	Penn shall maintain an attorney-client relationship with Law Firm in furtherance of efforts to secure and maintain the Patent Rights. 

 

	4.	Law Firm will interact directly with Company on all patent prosecution and patent maintenance matters related to the Patent Rights and will copy Penn on all correspondence related thereto. Company and Law Firm agree to
use all reasonable efforts to notify Penn in writing at least thirty (30) days prior to the due date or deadline for any action which could adversely affect the pending status of any patent application within the Patent Rights, the maintenance
of any granted patent within the Patent Rights, Penn’s right to file any continuing application or foreign counterpart application based on the Patent Rights, or the breadth of any claim within the Patent Rights. In any case, Company shall give
Penn written notice of any final decision regarding the action to be taken or not to be taken on such matters prior to instructing Law Firm to implement the decision. Penn reserves the right to countermand any instruction given by Company to Law
Firm. 

  

	5.	Law Firm’s legal services relating to the Patent Rights will be performed on behalf of Penn. Law Firm will invoice Penn for all such services. Company will reimburse Penn for all such services within thirty
(30) days of Company’s receipt of Penn’s invoice for such services. 

  

	6.	To clarify each party’s position with regard to prosecution and maintenance of the Patent Rights, Company will notify Law Firm in writing of all decisions to authorize the performance of any desired service(s),
which shall be subject to Penn’s right to countermand, as provided in paragraph 4, above. In the event Penn countermands any decision or instruction of Company, such countermand shall be promptly communicated in writing to Law Firm.

  

	7.	Penn may terminate this agreement at any time upon notice to Law Firm and Company. 

  

	8.	This agreement represents the complete understanding of each of the undersigned parties as to the arrangements defined herein. Additions or deletions of dockets identified in Appendix A will become effective only by
written addendum to Appendix A. All such additions or deletions of individual patents or applications filed in the US, or as foreign counterparts thereof are considered to be within the terms of this Patent Management Agreement. 

  
 1 

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	9.	Notices and copies of all correspondence relating to the Patent Rights should be sent to the following: 

  

									
	To PENN:	 		 	To COMPANY:
			
	 Center for Technology Transfer

University of Pennsylvania
 3160 Chestnut Street, Suite 200

Philadelphia, PA 19104-6283

Attn: Director, Intellectual Property
  

To Law Firm:
	 		 	

  

									
	ACCEPTED AND AGREED TO:	 		 	
			
	THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA	 		 	COMPANY
					
	By:	 	 	 		 	By:	 	 
					
	Name:	 	 	 		 	Name:	 	 
					
	Title:	 	 	 		 	Title:	 	 
					
	Date:	 	 	 		 	Date:	 	 
			
	LAW FIRM	 		 	
					
	By:	 	 	 		 		 	
					
	Name:	 	 	 		 		 	
					
	Title:	 	 	 		 		 	
					
	Date:	 	 	 		 		 	

  
 2 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Appendix A 

COMPANY LICENSED TECHNOLOGIES 
  

					
	 PENN Docket Number
	  	 Title
	  	 Patent Numbers

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]