Document:

Sublease made as of August 3, 2010

 Exhibit 10.20 
 SUBLEASE 
 This SUBLEASE (“Sublease”) is made as of
August 3, 2010 (the “Effective Date”), by and between Alnylam Pharmaceuticals, Inc., a Delaware corporation having a place of business at 300 Third Street, Cambridge, Massachusetts 02142 (“Sublessor”) and
sanofi-aventis U.S. Inc., a Delaware corporation (“Sublessee”). 
 W I T N E S S E T H: 

WHEREAS, pursuant to that certain Lease (“Original Lease’) dated as of September 26, 2003, as amended (1) by a
First Amendment to Lease dated March 16, 2006 between ARE-MA REGION NO. 28, LLC (“Prime Lessor”) (as successor to Three Hundred Third Street LLC), and Sublessor (as successor to Alnylam U.S., Inc., a Delaware corporation that
is a subsidiary of Sublessor and was formerly known as Alnylam Pharmaceuticals, Inc. (“Original Tenant”), pursuant to an Assignment of Lease dated February 28, 2006 between Original Tenant and Sublessor), (2) by a Second
Amendment to Lease between Prime Lessor and Sublessor dated June 26, 2009, and (3) by a Third Amendment to Lease between Prime Lessor and Sublessor dated May 11, 2010 (such lease, as so amended, and all renewals, modifications and
extensions thereof as permitted hereafter being hereinafter collectively referred to as the “Prime Lease”), a true, correct and complete copy of which is attached hereto as Exhibit A, Prime Lessor leases to Sublessor
with certain appurtenant rights certain premises in the building known as and numbered 300 Third Street, Cambridge, Massachusetts (the “Building”) (all as more particularly described in the Prime Lease, the
“Premises”); and 
 WHEREAS, Sublessee desires to sublease a portion of the Premises from Sublessor and
Sublessor is willing to sublease the same, all on the terms and conditions hereinafter set forth; 
 NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties covenant and agree as follows: 
 1. Sublease of Subleased Premises. For the rent and upon the terms and conditions herein, Sublessor hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor approximately 34,014
square feet of rentable space, which is made up of (i) the space on Level 01 consisting of approximately 33,529 square feet of rentable space, including two (2) “control zones” (the “First Floor Premises”),
(ii) the acid neutralization room on Level P-2 consisting of approximately 185 square feet of rentable space (the “2010 Acid Neutralization Room”) and (iii) the chemical storage room on Level P-1 consisting of
approximately 300 square feet of rentable space (the “300 SF Chemical Storage Room,” which together with the 2010 Acid Neutralization Room and the First Floor Premises is referred to herein as the “Subleased
Premises”) as shown on Exhibit B attached hereto. During the term hereof, Sublessee shall have access to and use of the Subleased Premises twenty-four (24) hours a day, 7 days a week, subject to the terms of this
Sublease. If Sublessor acquires the Furniture (as defined hereafter), then Sublessor also grants Sublessee the right to use those items of personal property identified on Exhibit C attached hereto and made a part hereof (the
“Furniture”), together with the existing voice and data network cabling in the Subleased Premises as of the Commencement Date (as hereinafter defined), all without additional charge except as provided in the next sentence. SUBLESSOR

 
AND SUBLESSEE ACKNOWLEDGE AND AGREE THAT SUBLESSOR WILL USE REASONABLE EFFORTS TO PURCHASE THE FURNITURE FROM ARCHEMIX, BUT THAT SAID PURCHASE WILL BE CONTINGENT ON AND SUBJECT TO SUBLESSOR AND
SUBLESSEE EXECUTING A MUTUALLY SATISFACTORY LEASE AGREEMENT, WHEREBY SUBLESSEE SHALL LEASE THE FURNITURE FOR THE TERM OF THIS SUBLEASE, PURSUANT TO SUCH TERMS AND CONDITIONS AS SUBLESSOR AND SUBLESSEE SHALL MUTUALLY AGREE. In such case, Sublessee
will accept possession of the Furniture and said cabling “as is, where is” and in its then-current condition, Sublessor having made no representation or warranty of any kind, express or implied (including, but not limited to, any warranty
of fitness for any particular use or purpose) with respect to any of the same. If Sublessee so leases the Furniture, Sublessee shall keep the Furniture in the same condition as exists on the Commencement Date, ordinary wear and tear and damage by
casualty excepted, but Sublessee shall not be required to replace any items unless replacement is required due to Sublessee’s gross negligence or willful misconduct. Sublessee shall leave the Furniture in approximately the configuration in
which Sublessee accepts the Furniture on the Commencement Date, but shall have no duty to remove such Furniture or said cabling upon the expiration or earlier termination of this Sublease. 

2. Term; Extension Right. (a) Subject to the following provisos, the term of this Sublease (“Term”) shall
commence upon the latest to occur of (i) October 1, 2010, or (ii) delivery by the Prime Lessor of the executed “Consent” (as that term is defined in Section 30) (the “Commencement Date”), and shall
expire on December 31, 2011 (the “Original Expiration Date”), unless sooner terminated or extended as provided herein; provided, however, that Sublessor shall make commercially reasonable efforts to deliver the
Subleased Premises to Sublessee on or before October 1, 2010 if Sublessor receives delivery of the Subleased Premises from the Prime Lessor prior to October 1, 2010, in which case Sublessor shall inform Sublessee at least ten
(10) days prior to said delivery date, and such earlier delivery date shall be the Commencement Date (provided the fully executed Consent and the Environ Report each has been delivered), and provided further that if
the Subleased Premises are delivered to Sublessee after October 1, 2010, then Sublessor shall inform Sublessee at least ten (10) days prior to said delivery date, and said delivery date shall be the Commencement Date (provided the fully
executed Consent has been delivered). 
 If the Commencement Date has not occurred by January 1, 2011, then at
Sublessee’s option, this Sublease will terminate and will cease to have any further effect, and the parties hereto will have no further obligations to each other with respect to this Sublease and any funds paid hereunder by Sublessee shall be
promptly refunded by Sublessor. 
 The Subleased Premises shall be delivered by Sublessor and accepted by Sublessee in “as
is” condition, except that the Subleased Premises shall be in broom clean condition, all items of personal property (other than as described in Exhibit C) shall be removed from the Subleased Premises, and Sublessor shall
provide Sublessee a copy of the report prepared by Prime Lessor’s third-party environmental consultant, ENVIRON International Corporation, or its affiliate, that states that the Subleased Premises are suitable for re-tenancy by another life
sciences company (the “Environ Report”). The Environ Report shall also describe the methods employed in the decommissioning work and shall be addressed to Sublessor and Sublessee and shall state that

  
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Sublessor and Sublessee may rely on the Environ Report. If the Environ Report is not delivered to Sublessee as set forth in this paragraph by the Commencement Date, then Sublessee may elect to
terminate this Sublease. 
 Possession of the Subleased Premises shall be delivered to Sublessee on the Commencement Date, and
the Subleased Premises shall be in substantially the same condition as described in the Environ Report. 
 (b) Prior to the
Commencement Date, Sublessee shall have the right to inspect the Subleased Premises to confirm that the operating systems and equipment located in or servicing the Subleased Premises (including but not limited to all fume hoods) are in good and safe
operating condition in Sublessee’s reasonable discretion, and if such is not the case, then Sublessee will promptly notify Sublessor with sufficient detail to identify the operating systems and equipment located in or servicing the Subleased
Premises that are not in good and safe operating condition. Sublessor and Sublessee shall act in good faith and use commercially reasonable efforts to mutually agree upon the commercially reasonable action required to bring the operating systems and
equipment located in or servicing the Subleased Premises into good and safe operating condition, including but not limited to agreement on the scope of work, contractors, budget, and schedule for timely completion of the work. If, after negotiating
in good faith, Sublessor and Sublessee cannot mutually agree upon commercially reasonable action required to bring the operating systems and equipment located in or servicing the Subleased Premises into good and safe operating condition, then
Sublessee may elect to terminate this Sublease. If Sublessee elects to terminate this Sublease, then upon written notice to Sublessor, and from and after such date, this Sublease will cease to have any further effect and the parties hereto will have
no further obligations to each other with respect to this Sublease. 
 (c) Provided that, at the time Sublessee elects to
exercise the option herein granted and at the time of the commencement of the Extended Term (as defined below), (i) the Prime Lease is in full force and effect, and (ii) Sublessee is not in monetary default hereunder beyond applicable
notice and cure period(s) (which default may be waived by Sublessor at its sole discretion and may not be used by Sublessee as a means to negate the effectiveness of Sublessee’s exercise of the option set forth herein), Sublessee shall have the
option, subject to Sublessor’s approval as set forth below to extend the Term of this Sublease for three (3) months (the “Extended Term”). The Extended Term shall commence immediately following the Original Expiration
Date. All terms and conditions applicable during the original Term shall apply during the Extended Term including without limitation the obligation to pay Rent, Operating Expenses and Taxes except that Sublessee shall have no further right to extend
the Term beyond the Extended Term defined above. 
 Sublessee shall exercise its option to extend this Sublease for the Extended
Term by giving Sublessor written notice of its election to extend (the “Notice to Extend”), which notice shall apply to the entire Subleased Premises and shall be irrevocable. 

Sublessee may exercise its option to extend for the Extended Term by giving Sublessor a Notice to Extend not more than six
(6) months, and not less than three (3) months, prior to the expiration date of the original Term, time being of the essence. Within ten (10) business days after receipt of the Notice to Extend, Sublessor shall provide Sublessee with
Sublessor’s approval or denial to grant the Extended Term. 

  
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 If Sublessee fails to give a timely Notice to Extend within the time provided above, this
Sublease shall automatically expire as of the Original Expiration Date, unless sooner terminated as provided herein. 
 TIME IS
OF THE ESSENCE WITH REGARD TO THE DATES DESCRIBED IN THIS SECTION 2. 
 3. Appurtenant Rights; Parking.
(a) Sublessee shall have, as appurtenant to the Subleased Premises and without additional charge or cost, rights to use in common with Sublessor and others entitled thereto Sublessor’s rights in driveways, walkways, lobbies, hallways, the
loading dock, freight elevators, stairways, passenger elevators convenient for access to the Subleased Premises and the lavatories on Level 01, and all other Common Areas as set forth in the Prime Lease other than the lavatories on Level 02, all in
accordance with the terms of the Prime Lease. 
 (b) In addition, subject to the terms of the Prime Lease, Sublessor leases to
Sublessee thirty-seven (37) parking spaces in the Building garage allocated to Sublessor pursuant to the Prime Lease. All parking spaces shall be leased on an unassigned, unreserved basis, and Sublessee shall pay Sublessor, as additional rent,
a sum for each parking space at the then prevailing market parking rates (which as of the date of this Sublease is $215/space/month). Sublessor shall cooperate with Sublessee to obtain parking passes from Prime Lessor. 

4. Rent. (a) Sublessee shall pay to Sublessor $1,666,686 annually as rent (the “Rent”), at the rate of
$138,890.50 per calendar month based on a calculation of $49.00 per rentable square foot of floor space in the Subleased Premises, which is intended to be triple net rent. 
 (b) Sublessee will pay its proportionate share of Sublessor’s cost of the actual Operating Expenses (as defined in the Prime Lease) and Taxes (as defined in the Prime Lease), each as
“Additional Rent,” which payments for 2010 shall be made initially as follows: 
  

	 	•	 	 Sublessor’s Monthly Cost for Operating Expenses, including the Subleased Premises - $147,581 

 

	 	•	 	 Sublessee’s Monthly Proportionate Share of Operating Expenses - $38,785 

 

	 	•	 	 Sublessor’s Monthly Cost for Taxes, including the Subleased Premises - $104,537 

 

	 	•	 	 Sublessee’s Monthly Proportionate Share of Taxes - $27,474, 

 as well as Sublessee’s proportionate share of any Reconciliation (as defined in the Prime Lease); provided that Sublessee is entitled to receive its proportionate share of any
Reconciliation, and if Sublessee is so entitled to receive any such sum based on its payments in 2011, then Sublessor shall pay Sublessee such sums in cash within ten (10) days of the date Prime Lessor and

  
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Sublessor agree on such sums. Sublessee’s proportionate share of Sublessor’s cost of Operating Expenses and Taxes shall be 26.28%. Sublessor shall inform Sublessee of its Operating
Expense, Tax, and Reconciliation obligations within thirty (30) days of receipt from Prime Lessor of a statement or demand therefor, and shall provide reasonable detail to allow Sublessee to evaluate its share. 

Sublessee shall be responsible for paying for the actual cost of its electricity and gas, pursuant to, and as measured by, separate
submeters for electricity and gas, which submeters Sublessor represents are currently installed and fully operational for the Subleased Premises, and Sublessee also shall pay for the cleaning of the Subleased Premises. 

(c) Sublessee shall begin paying Rent to Sublessor on the Commencement Date (the “Rent Commencement Date”), and shall
not owe Rent to Sublessor for any period prior to the Rent Commencement Date. All monthly payments of Rent (including Operating Expenses and Taxes) are due and payable in advance on the first day of each calendar month, without demand, deduction,
counterclaim or setoff. Rent for any partial month shall be prorated and paid on the first of such month. Sublessee shall make all payments required by this Sublease by wire transfer. 

(d) Other than payments for Rent, Additional Rent, and parking spaces, Sublessee shall owe no other sums under or pursuant to this
Sublease or the Prime Lease. 
 5. Permitted Uses. Sublessee shall use the Subleased Premises for laboratory (wet and
dry), research and development, animal research, executive, administrative and general office uses and uses accessory thereto, and for all other uses as set forth in the Prime Lease. 

6. Condition of Subleased Premises; Environmental Matters; Security; Alterations; Construction of Shower Area; Permits.
(a) Sublessee agrees that, except as expressly provided herein, (i) it enters into this Sublease without relying upon any representations, warranties or promises by Sublessor, its agents, representatives, employees, servants or any other
person in respect of the Building or the Subleased Premises, (ii) no rights, easements or licenses are acquired by Sublessee by implication or otherwise except as expressly set forth herein, (iii) Sublessor shall have no obligation to do
any work in order to make the Subleased Premises suitable and ready for occupancy and use by Sublessee, except as otherwise set forth herein. 
 (b) Sublessor represents and covenants that, to the best of its knowledge based on information provided by Prime Lessor, Archemix Corp. (“Archemix”), and the Environ Report, the Subleased
Premises is not in violation of any applicable governmental laws, ordinances and regulations, including but not limited to those relating to Hazardous Materials, and that Sublessor has disclosed to Sublessee the presence of Hazardous Materials (as
defined in the Prime Lease) in the Subleased Premises of which it has knowledge, and Sublessor has also provided Sublessee with the written documentation that Sublessor has received from the Prime Lessor and Archemix and any third party vendors
(including the Environ Report) of all methods employed and analytical results regarding the decontamination of fume hoods/ventilation enclosures, lab benches/countertops and sink traps, vivarium areas, chemical storage cabinets/areas, and any other
area/apparatus within the Subleased Premises that may have contained Hazardous 

  
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Materials, which documentation is described on Exhibit D attached hereto. Sublessee acknowledges that prior to the Commencement Date, it shall make or cause to be made a thorough
examination and inspection of the Subleased Premises and will be familiar with the condition of every part thereof (latent defects excepted), and acceptance of the Subleased Premises shall reflect the Sublessee’s acknowledgement that all
systems and equipment are in good working order (latent defects excepted). Sublessee shall have no liability for any environmental condition or violation of law that exists in the Subleased Premises as of the Commencement Date, regardless of whether
or not it was disclosed and/or discovered as of the Commencement Date. Sublessor hereby covenants and agrees to release, indemnify, protect, defend, and hold harmless Sublessee and its affiliates and its and their officers, directors, shareholders,
agents, employees, representatives, successors, and assigns from and against any and all losses, liabilities, damages, obligations, claims, costs, and expenses (including but not limited to reasonable attorneys fees) suffered, incurred by, or
asserted against Sublessee relating to, arising out of, or connected with Hazardous Materials at, on, under, or from the Subleased Premises to the extent caused by or arising from the acts or failures to act of Sublessor. 

(c) After the Commencement Date, Sublessee shall have the right to install its own security system in the Subleased Premises, and
Sublessee shall remove or alter such security system at the end of the Term to the reasonable satisfaction of Sublessor. Sublessor shall provide Sublessee with Building entry security cards in adequate numbers for all of Sublessee’s employees
working in the Subleased Premises. 
 (d) After the Commencement Date, Sublessee may perform alterations, including but not
limited to installing computer and phone cabling, and the alterations may be performed only by contractors or mechanics reasonably approved by Sublessor in writing (which approval or rejection shall be given within ten business (10) days after
Sublessee’s request) and upon the approval by Sublessor in writing of fully detailed and dimensioned plans and specifications pertaining to the alterations, to be prepared and submitted by Sublessee, at its sole cost and expense. 

In addition, Sublessor and Sublessee agree that Sublessor shall use commercially reasonable efforts to coordinate with Prime Lessor and
Archemix to construct a shower room and other minor improvements in the Subleased Premises as described in the Architectural Environments, Inc. Proposal No. 10179, dated July 1, 2010 and related sketch (“AEI Proposal”)
prior to the Commencement Date. After such construction has been completed to the reasonable satisfaction of Sublessor and Sublessee, Sublessee shall pay Sublessor within fifteen (15) business days of request by Sublessor for the actual
third-party costs incurred by Sublessor in connection with such construction, as set forth in the AEI Proposal (which sum shall be approximately $25,334), and Sublessor shall provide reasonable evidence of all such charges. In addition, after such
construction has been completed, Sublessor shall use commercially reasonable efforts to coordinate with Prime Lessor and Archemix to allow Sublessee to install a security system as to such area, in order to ensure that said area remains secure.
Sublessee shall have no duty to remove said shower facility and other minor improvements so constructed by Sublessor at the termination or earlier expiration of this Sublease. 

  
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 If Sublessor has approved any alterations by Sublessee as described in this Section,
Sublessee shall not be required to remove any approved alterations at the expiration of the Term of this Sublease. 
 (e)
Sublessor shall reasonably cooperate with Sublessee to obtain any governmental permits or licenses required for the use or occupancy of the Subleased Premises by Sublessee. Not in limitation of the foregoing, Sublessor shall cooperate with Sublessee
to obtain all governmental permits required for the use and storage of flammable liquids by Sublessee in the Subleased Premises, and it is the intent of this paragraph that Sublessee obtain such permit(s) or license for the same quantity of
allowable flammable liquids that currently is allocated to Archemix in Archemix’s current use of the Subleased Premises. 

(f) Sublessee shall keep and maintain the Subleased Premises and the Furniture, fixtures and equipment therein at least the same order,
repair and condition as exists on the Commencement Date, reasonable wear and tear and damage by fire or other casualty excepted. 
 7. Insurance. Sublessee shall maintain throughout the Term of this Sublease such insurance in respect of the Subleased Premises and the conduct and operation of business therein, with Sublessor and
Prime Lessor listed as additional insureds as is required of “Tenant” pursuant to the terms of the Prime Lease, with no penalty to Sublessor or Prime Lessor resulting from deductibles or self-insured retentions effected in
Sublessee’s insurance coverage. If Sublessee fails to procure or maintain such insurance and to pay all premiums and charges therefor within five (5) days after receipt of written notice from Sublessor, Sublessor may (but shall not be
obligated to) do so, whereupon Sublessee shall reimburse Sublessor upon demand. All such insurance policies shall, to the extent obtainable, contain endorsements providing that (i) such policies may not be canceled except upon thirty
(30) days’ prior notice to Sublessor and Prime Lessor, (ii) no act or omission of Sublessee shall affect or limit the obligations of the insurer with respect to any other named or additional insured and (iii) Sublessee shall be
solely responsible for the payment of all premiums under such policies and Sublessor, notwithstanding that it is or may be a named insured, shall have no obligation for the payment thereof. On or before the Commencement Date, Sublessee shall deliver
to Sublessor and Prime Lessor either a fully paid-for policy or certificate, at Sublessee’s option, evidencing the foregoing coverages. Any endorsements to such policies or certificates shall also be delivered to Sublessor and Prime Lessor upon
issuance thereof. Sublessee shall procure and pay for renewals of such insurance from time to time before the expiration thereof, and Sublessee shall deliver to Sublessor and Prime Lessor such renewal policies or certificates within thirty
(30) days after the renewal date of any existing policy. In the event Sublessee fails so to deliver any such renewal policy or certificate within thirty (30) days after the expiration of any existing policy, Sublessor shall have the right,
but not the obligation, to obtain the same after five (5) days written notice and opportunity to cure whereupon Sublessee shall reimburse Sublessor upon demand the fair market cost thereof. 

Sublessee shall include in all such insurance policies any clauses or endorsements in favor of Prime Lessor including, but not limited
to, waivers of the right of subrogation, which Sublessor is required to provide pursuant to the provisions of the Prime Lease. Sublessor and Sublessee shall also obtain from their respective insurers waivers of subrogation riders in favor

  
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of each other and hereby agree to release each other from all claims that may arise that are otherwise covered by insurance or if would have been covered by insurance that was required to be
obtained either herein or in the Prime Lease. Sublessee releases and waives all claims against Sublessor and Prime Lessor for loss or damage to Sublessee’s personal property and its alterations in the Subleased Premises, except to the extent
related to (i) the gross negligence or willful misconduct of Sublessor, Prime Lessor, and their agents, employees, contractors, and invitees and (ii) Sublessor’s breach of this Sublease or Prime Lease. 

8. Indemnification. (a) Subject to Section 7 above and the obligation of each party to first look to insurance,
Sublessee agrees to protect, defend (with counsel reasonably approved by Sublessor), indemnify and hold Sublessor and Prime Lessor and their respective officers, agents and employees harmless from and against any and all claims, costs, expenses,
losses and liabilities (except to the extent arising from any act, gross negligence or willful misconduct of Prime Lessor or Sublessor or their agents, contractors, invitees, and employees), arising: (i) from the conduct or management of or
from any work or thing whatsoever done in the Subleased Premises by or on behalf of Sublessee during the Term hereof; (ii) from any condition arising and any injury to or death of persons, damage to property or other event occurring or
resulting from a negligent occurrence in the Subleased Premises during the term hereof by or on behalf of Sublessee; and (iii) from any breach or default on the part of Sublessee in the performance of any covenant or agreement on the part of
Sublessee to be performed pursuant to the terms of this Sublease or from any willful misconduct or gross negligence on the part of Sublessee or any of its agents, employees, licensees, invitees or assignees or any person claiming through or under
Sublessee. Sublessee further agrees to indemnify Sublessor and Prime Lessor and their respective officers, agents and employees from and against any and all damages, liabilities, costs and expenses, including reasonable attorneys’ fees,
incurred in connection with any such indemnified claim or any action or proceeding brought in connection therewith. The provisions of this Paragraph are intended to supplement any other indemnification provisions contained in this Sublease and in
the Prime Lease to the extent incorporated by reference herein. Any non-liability, indemnity or hold harmless provisions in the Prime Lease for the benefit of Prime Lessor that are incorporated herein by reference shall be deemed to inure to the
benefit of Sublessor and Prime Lessor for the purpose of incorporation by reference in this Sublease. 
 (b) Sublessor agrees to
protect, defend (with counsel reasonably approved by Sublessee), indemnify and hold Sublessee and its officers, agents and employees harmless from and against any and all claims, costs, expenses, losses and liabilities arising from any breach or
default on the part of Sublessor in the performance of any covenant or agreement on the part of Sublessor to be performed pursuant to the terms of this Sublease, or any breach or a representation or warranty herein contained, or from any willful
misconduct or gross negligence on the part of Sublessor or any of its agents, employees, licensees, invitees, or assignees or any person claiming through or under Sublessor. Sublessor further agrees to indemnify Sublessee and its officers, agents
and employees from and against any and all damages, liabilities, costs and expenses, including reasonable attorneys’ fees, incurred in connection with any such indemnified claim or any action or proceeding brought in connection therewith. Any
non-liability, indemnity or hold harmless provisions in the Prime Lease for the benefit of Sublessor, as tenant, shall be deemed to inure to the benefit of Sublessee for purposes of incorporation by reference in this Sublease. 

  
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 9. No Assignment or Subletting. (a) Sublessee shall not assign, sell, mortgage,
pledge or in any manner transfer this Sublease or any interest herein, or the term or estate granted hereby or the rentals hereunder, or sublet the Subleased Premises or any part thereof, or grant any concession or license or otherwise permit
occupancy of all or any part of the Subleased Premises by any person, without the prior written consent of Sublessor and Prime Lessor. Neither the consent of Sublessor or Prime Lessor to an assignment, subletting, concession, or license, nor the
references in this Sublease to assignees, subtenants, concessionaires or licensees, shall in any way be construed to relieve Sublessee of the requirement of obtaining the consent of Sublessor and Prime Lessor to any further assignment or subletting
or to the making of any further assignment, subletting, concession or license for all or any part of the Subleased Premises. Notwithstanding any assignment or subletting, including, without limitation, any assignment or subletting permitted or
consented to, the original Sublessee named herein and any other person(s) who at any time was or were Sublessee shall remain fully liable under this Sublease. If this Sublease is assigned, or if the Subleased Premises or any part thereof is underlet
or occupied by any person or entity other than Sublessee, Sublessor may, after default by Sublessee beyond any applicable notice and cure periods, collect rent from the assignee, undertenant or occupant, and apply the net amount collected to the
rents payable by Sublessee hereunder, but no assignment, underletting, occupancy or collection shall be deemed a waiver of the provisions hereof, the acceptance of the assignee, undertenant or occupant as tenant, or a release of Sublessee from the
further performance by Sublessee of the covenants hereunder to be performed on the part of Sublessee. Any attempted assignment or subletting without the prior written consent of Sublessor and Prime Lessor shall be void. 

(b) Notwithstanding the foregoing, Sublessee may make the following transfers and Sublessor’s and Prime Lessor’s consent shall
not be required with respect to (i) any assignment resulting from a consolidation, merger or purchase of all or substantially all of Sublessee’s stock or assets; or (ii) any assignment or sublease of all of the Sublease Premises to a
person or entity (1) who or which controls Sublessee or who or which controls the person or entity who or which controls Sublessee (in either case, a “Parent”), or who is controlled by Sublessee or a Parent, or is controlled by a
person or entity who or which is controlled by Sublessee or a Parent, and (2) whose net worth is not materially less than Sublessee’s net worth at the time this Sublease was executed. The term “control,” as used in this
Section 9(b), shall mean the ownership, directly or indirectly, of fifty-one percent (51%) or more of the outstanding voting stock of a corporation or other equity interest if Sublessee or such entity is not a corporation. With respect to
any assignment or subletting to which Sublessor’s and Prime Lessor’s consent is not required, the following provisions shall apply: 
 (I) If permitted by law, Sublessee shall give Sublessor written notice of the assignment or subletting no less than 10 days prior to the effective date thereof, which notice shall set forth the identity
of the proposed transferee, the reason(s) why Sublessor’s and Prime Lessor’s consent is not required and the nature of the proposed transferee’s business to be carried on in the Subleased Premises. 

  
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 (II) Sublessee shall furnish Sublessor (i) no less than 30 days prior
to the effective date of the assignment or subletting, with a current financial statement of the proposed transferee; and 
 (III) Sublessee shall furnish Sublessor with a complete copy of the fully executed assignment and assumption agreement or sublease within ten (10) days after the date said document is executed.

 Any assignment or subletting to which Sublessor’s and Prime Lessor’s consent is not required and with respect to
which the provisions of this paragraph are not complied with shall, at Sublessor’s option, be void. 
 10. Primacy and
Incorporation of Prime Lease. 
 (a) This Sublease is and shall be subject and subordinate to the Prime Lease and to all
amendments, modifications, renewals, extensions and replacements of or to the Prime Lease, but only as such are permitted pursuant to Section 19 of this Sublease. Sublessor conveys, and Sublessee takes hereby, no greater rights then those
accorded to or taken by Sublessor as “Tenant” under the terms of the Prime Lease, and likewise is granted all benefits afforded “Tenant” under the Prime Lease. To the extent incorporated herein, Sublessee covenants and agrees
that it will perform and observe all of the provisions contained in the Prime Lease to be performed and observed by the “Tenant” thereunder as applicable to the Subleased Premises, except that “Rent” shall be defined for purposes
of this Sublease as set forth in Section 4 hereof. Notwithstanding the foregoing, Sublessee shall have no obligation to (i) cure any default of Sublessor under the Prime Lease, (ii) perform any obligation of Sublessor under the Prime
Lease which arose prior to the Commencement Date and Sublessor failed to perform, (iii) repair any damage to the Subleased Premises caused by Sublessor, (iv) remove any alterations or additions installed within the Subleased Premises by
Sublessor, (v) indemnify Sublessor or Prime Lessor with respect to any acts or omissions of Sublessor, its agents, employees or contractors, or (vi) discharge any liens on the Subleased Premises or the Building which arise out of any work
performed, or claimed to be performed, by or at the direction of Sublessor. Except to the extent inconsistent with the context hereof, capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Prime
Lease. Further, except as set forth in the last paragraph of this Section (a), the terms, covenants and conditions of the Prime Lease are incorporated and made a part of this Sublease as they relate to the Subleased Premises as if such terms,
covenants and conditions were stated herein to be the terms, covenants and conditions of this Sublease, so that except to the extent that they are inconsistent with or modified by the provisions of this Sublease, for the purpose of incorporation by
reference, each and every referenced term, covenant and condition of the Prime Lease binding upon or inuring to the benefit of the “Landlord” thereunder shall, in respect of this Sublease and the Subleased Premises, be binding upon or
inure to the benefit of Sublessor, and each and every referenced term, covenant and condition of the Prime Lease binding upon or inuring to the benefit of the “Tenant” thereunder shall, in respect of this Sublease, be binding upon or inure
to the benefit of Sublessee, with the same force and effect as if such terms, covenants and conditions were completely set forth in this Sublease. It is the intent of the parties that to the extent any terms or provisions of this Sublease are
inconsistent or conflict with the Prime Lease, the terms of this 

  
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Sublease shall control and the applicable terms and provisions of the Prime Lease shall be deemed to be modified to reflect the terms and provisions of this Sublease. For purposes of this
Sublease, as to such incorporated terms, covenants and conditions: 
 (i) references in the Prime Lease to the
“Premises” shall be deemed to refer to the “Subleased Premises” hereunder; 
 (ii) references
in the Prime Lease to “Landlord” and to “Tenant” shall be deemed to refer to “Sublessor” and “Sublessee” hereunder, respectively, except that where the term “Landlord” is used in the context of
ownership or management of the entire Building, such term shall be deemed to mean “Prime Lessor”; 

(iii) references in the Prime Lease to “this Lease” shall be deemed to refer to “this Sublease”
(except when such reference in the Prime Lease is, by its terms (unless modified by this Sublease), a reference to any other section of the Prime Lease, in which event such reference shall be deemed to refer to the particular section of the Prime
Lease); 
 (iv) references in the Prime Lease to the “Rent Commencement Date” and “Effective
Date” shall be deemed to refer to the “Commencement Date” hereunder; 
 (v) references in the
Prime Lease to the “Monthly Rent,” “Additional Rent,” “rent,” “Taxes,” and “Operating Expenses” shall be deemed to refer to the “Rent” as defined hereunder; 

(vi) references in the Prime Lease to “parking spaces,” “parking rate” and “Parking Fee”
shall be deemed to refer to the parking spaces and parking fee specified in Section 3(b) of this Sublease; 

(vii) references in the Prime Lease to “Pro Rata Share” shall be deemed to refer to the Sublessee’s pro
rata share of the Sublessor’s pro rata share as set forth in Section 4(b) of this Sublease; 
 (viii)
references in the Prime Lease to “Term” shall be deemed to refer to the Term of this Sublease. 
 Sublessor shall have
the rights against Sublessee as would be available to landlord against the tenant under the Prime Lease if such breach was by the tenant thereunder. Sublessee shall have the same rights against Sublessor as would be available to tenant against the
landlord under the Prime Lease if such breach was by the landlord thereunder. 
 (b) Notwithstanding the foregoing, the
following provisions of the Prime Lease and Exhibits annexed thereto are not incorporated herein by reference and shall not, except as to definitions set forth therein, have any applicability to this Sublease: 

Original Lease: Articles/Paragraphs/Sections 1 (Basic Provisions, except for 1C, 1O, 1P, and 1S), 2 (Premises, Term and
Commencement Date), 3A (Monthly Rent, only the last 

  
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sentence), 5A (Landlord’s Work), 5B (Tenant’s Work), 5C (Alterations, only the provision in the first sentence pertaining to non-structural and non-Building system alterations not in
excess of Seventy-Five Thousand Dollars ($75,000) and the sentence regarding the 2% administrative fee), 5E (Compliance with ADA, except 5E(iii) with respect to work undertaken by or on behalf of Sublessee), 6C (Compliance with Law, only the first
two sentences and only where Sublessee’s alterations or specific use trigger compliance requirements), 8B (Landlord’s Insurance), 9A (Tenant Indemnity of Landlord), 12D (Obstructions, only the provisions requiring Landlord consent), 12E
(Signs, paragraphs 1-4 related to façade signage and also the requirement in paragraph 6 for Landlord approval), 12G (Condition of Premises), 13 (Inspection of Premises), 15 (Holding Over), 16I (Assignment of Options), 23 (Security Deposit),
24 (Brokerage Commission), 28(e) - 28(h), inclusive (Additional Rights Reserved), 30(B) (Execution of Lease), 30C (Notices, only the provision pertaining to mailing addresses), 30(F) (Financial Statements), 30J (Limitation of Liability), 30K
(Memorandum of Lease), 30(X) (Access, Changes in Project, Facilities), 31 (Right of First Refusal) and Exhibits C (Tenant’s Work), D (Building’s Rules and Regulations, only those provisions providing for Landlord approval/consent rights),
E (Rent Commencement Date Confirmation) and F (Signage). 
 First Amendment: Paragraphs/Sections 2 (Additional Premises
Commencement Date), 3(a) (Premises), 3(b) (Landlord’s Address), 3(c) (Monthly Rent), 3(d) (Parking Fee/Parking Spaces), 3(e) (Tenant’s Pro Rata Share), 3(f) (Notice Addresses), 3(g) (Reference to new Exhibit A), 4 (Condition of Additional
Premises) and 7 (Brokers); Exhibits A (Additional Premises) and B (Tenant’s Work) 
 Second Amendment:
Paragraphs/Sections 2 (Additional Premises Commencement Date), 3(a) (Premises), 3(d) (Building Manager/Address), 3(e) (Expiration Date), 3(g) (Return of Security Deposit), 3(h) (Monthly Rent), 3(i) (Tenant’s Pro Rata Share), 3(j) (Parking
Fee/Parking Spaces), 3(k) (Fair Market Rent), 3(l) (Surrender Plan), 3(m) (Expansion to First Floor), 4 (Condition of Additional Premises), 5 (Work to be Performed by Tenant), 6 (Conditions) and 9 (Brokers); Exhibits B (ROFO Space) and C
(Tenant’s Work); Consent of Guarantor 
 Third Amendment: Paragraphs/Sections 2 (Additional Premises Commencement
Date), 3(a) (Premises), 3(c) (Monthly Rent), 3(d) (Tenant’s Pro Rata Share), 3(e) (Parking Fee/Parking Spaces), 3(f) (Expansion to First Floor), 4 (Delivery; Condition of Additional Premises, only the first paragraph), 5 (Subleasing, only the
last 2 paragraphs), 7 (Alnylam Exterior Sign) and 10 (Brokers) 
 (c) Notwithstanding anything to the contrary contained in the
Prime Lease, the time limits (the “Notice Periods”) contained in the Prime Lease for the giving of notices, making of demands or performing of any act, condition or covenant on the part of the “Tenant” thereunder, or for
the exercise by the “Tenant” thereunder of any right, remedy or option, are changed for the purposes of incorporation herein by reference by shortening the same in each instance by five (5) days, so that in each instance Sublessee
shall have five (5) fewer days to observe or perform hereunder than Sublessor has as the “Tenant” under the Prime Lease; provided, however, that if the Prime Lease allows a Notice Period of five (5) days or less,
then Sublessee shall nevertheless be allowed the number of days equal to one-half of the number of days in each Notice Period to 

  
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give any such notices, make any such demands, perform any such acts, conditions or covenants or exercise any such rights, remedies or options; provided, further, that if one-half of
the number of days in the Notice Period is not a whole number, Sublessee shall be allowed the number of days equal to one-half of the number of days in the Notice Period rounded up to the next whole number. 

11. Landlord Representations. (a) Notwithstanding anything to the contrary contained in this Sublease (including, without
limitation, the provisions of the Prime Lease incorporated herein by reference), Sublessor makes no representations or warranties whatsoever with respect to the Subleased Premises, this Sublease, Prime Lease or any other matter, either express or
implied, except as otherwise expressly set forth in this Sublease, and except that Sublessor represents and warrants both as of the Effective Date and the Commencement Date as follows: (i) that it is the sole holder of the interest of the
“Tenant” under the Prime Lease and holds good leasehold title to the Subleased Premises, (ii) that Sublessor has the legal power, right and authority to enter into this Sublease and the instruments referenced herein and to consummate
the transactions contemplated hereby, and the individual(s) executing this Sublease and instruments referenced herein on behalf of Sublessor have the legal power, right and authority to bind Sublessor to the terms and conditions hereof and that the
Sublease is enforceable in accordance with its terms and is in full force and effect, (iii) that the Prime Lease is in full force and effect, (iv) there currently are no defaults or events of default under the Prime Lease, and there are no
events which, with the passage of time and/or the giving of notice, would constitute a default or event of default under the Prime Lease, (v) to the best of Sublessor’s knowledge, Prime Lessor is not in default under the Prime Lease,
(vi) other than those that have been obtained and that are in full force and effect, the execution, delivery, and performance by Sublessor of this Sublease does not require the consent, waiver, approval, license, or authorization of, or any
notice to or filing with, any person, entity, or governmental authority, except for the Consent, (vii) a true, accurate, and complete copy of the Prime Lease is attached hereto as Exhibit A, and there have been no modifications,
amendments (including amendments to appendices) or changes to the Prime Lease except as set forth in Exhibit A, and the Prime Lease constitutes the entire agreement between Prime Lessor and Sublessor with regard to the Subleased Premises,
(viii) Sublessor has no defenses, setoffs, or counterclaims to the payment of amounts due from Sublessor to Prime Lessor under the Prime Lease and no dispute currently exists under the Prime Lease, (ix) the execution and delivery of this
Sublease will not conflict with or constitute a breach or default of any material terms of any note, contract, mortgage, deed of trust, lease, sublease, or other agreement or instrument to which Sublessor is a party or by which it is bound,
(x) there are no actions, lawsuits, or proceedings pending or threatened against or relating to Sublessor’s ownership or use of the Subleased Premises, and Sublessor has not received any written notice from any city, county, state, or
other governmental agency claiming a violation of any applicable laws relating to the Subleased Premises, and (xi) Sublessor has not contracted for any services or goods or created any obligations that will bind Sublessee as
successor-in-interest with respect to the Subleased Premises except as set forth in this Sublease. 
 12. Access.
Sublessor acknowledges that Sublessee will be conducting sensitive and valuable research and laboratory experiments in the Subleased Premises, that the Subleased Premises will contain confidential proprietary information, and that such laboratory
research being conducted in the Subleased Premises is sensitive to interference and could be voided or 

  
 -13-

 
irreparably harmed by uncontrolled access. Subject to the terms hereof, Sublessee shall upon at least three (3) business days prior written notice from Sublessor, permit Sublessor to have
reasonable access to and to enter upon the Subleased Premises Monday-Friday 8:00 a.m. - 6:00 p.m., excluding holidays, for the purpose of exercising rights (if any) granted to Sublessor under this Sublease; provided, however, that Sublessee shall
permit Sublessor’s facilities personnel to have immediate access to the Subleased Premises in the event of an emergency as reasonably determined by Sublessor, and Sublessor will provide notice to Sublessee promptly after any such emergency
access. Sublessee shall have the right to have a representative present during all such access. Sublessor shall always access the Subleased Premises in a safe manner, and shall comply with all applicable laws, ordinances, rules, regulations, and
orders (including but not limited to those set forth in the Federal Occupational Safety and Health Act and its state and local equivalents, as amended) and with the reasonable safety and security protocols and procedures established by Sublessee
from time to time. 
 13. Compliance with Prime Lease. Sublessee shall neither do nor permit anything to be done which
would cause the Prime Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Prime Lessor under the Prime Lease; provided, however, that this provision shall not require Sublessee to act or
refrain from acting where otherwise permitted in this Sublease. Sublessee shall defend, indemnify and hold Sublessor harmless from and against any and all claims, liabilities, losses, damages and expenses (including reasonable attorneys’ fees)
of any kind whatsoever by reason of any breach or default by Sublessee of this Section 13. 
 Sublessor shall neither do
nor permit anything to be done which would cause the Prime Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Prime Lessor under the Prime Lease; provided, however, that this provision shall
not require Sublessor to act or refrain from acting where otherwise permitted in this Sublease. Sublessor shall defend, indemnify and hold Sublessee harmless from and against any and all claims, liabilities, losses, damages and expenses (including
reasonable attorneys’ fees) of any kind whatsoever by reason of any breach or default by Sublessor of this Section 13. 
 14. Brokerage. Sublessee and Sublessor each represents that it has not dealt with any broker in connection with this Sublease other than Richards, Barry, Joyce & Partners and Zell
Partnership, Inc. (the “Brokers”). Each party agrees to indemnify and hold harmless the other from and against any and all liabilities, claims, suits, demands, judgments, costs, interest and expenses (including, without being
limited to, reasonable attorneys’ fees and expenses) which the indemnified party may be subject to or suffer by reason of any breach of the foregoing representations. Sublessor shall pay the Brokers the brokerage fee/commissions due under
separate agreements between and among Sublessor and Brokers and shall indemnify and hold Sublessee harmless from and against any and all liabilities, claims, suits, demands, judgments, costs, interest and expenses (including, without being limited,
reasonable attorneys’ fees and expenses) which Sublessee may be subject to or suffer by reason of any claim made by the Brokers for any fees/commissions, expense or other compensation as a result of the execution and delivery of this Sublease,
other than a claim based upon any agreement with Sublessee or Sublessee’s agents, representatives or employees. 

  
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 15. Notices. All notices, consents, approvals, demands, bills, statements and
requests which are required or desired to be given by either party to the other hereunder shall be in writing and shall be governed by Section 30C of the Prime Lease as incorporated herein by reference, except that the mailing addresses for
Sublessor shall initially be as first set forth above, and the mailing address for Sublessee shall be as follows: 

sanofi-aventis U.S. Inc. 
 55 Corporate Drive 
 Mail Code: 55C-315B 

Bridgewater, NJ 08807 
 Attention: Mark R. Shaw 
 With a copy to: 

sanofi-aventis U.S. Inc. 
 55 Corporate Drive 
 Mail Stop: 55A-520A 

Bridgewater, NJ 08807 
 Attention: General Counsel 
 With a copy to: 

Scott McCandless 
 Shook, Hardy & Bacon L.L.P. 
 2555 Grand Blvd. 

Kansas City, MO 64108. 
 16. Interpretation. This Sublease shall be construed without regard to any presumption or other rule requiring construction against the party causing this Sublease to be drafted. Each covenant,
agreement, obligation or other provision of this Sublease shall be deemed and construed as a separate and independent covenant of the party bound by, undertaking or making the same, which covenant, agreement, obligation or other provision shall be
construed and interpreted in the context of the Sublease as a whole. All terms and words used in this Sublease, regardless of the number or gender in which they are used, shall be deemed to include any other number and any other gender as the
context may require. The word “person” as used in this Sublease shall mean a natural person or persons, a partnership, a corporation or any other form of business or legal association or entity. Terms used herein and not defined shall have
the meaning set forth in the Prime Lease.  
 17. Signage; Rooftop Equipment. Sublessee may, at its sole cost,
install standard lobby directory, suite and directional signage, including suite entry door and elevator lobby signage, monument signage, and rooftop equipment, subject to the approval of Sublessor, not to be unreasonably withheld. Sublessor
shall use its reasonable efforts to obtain for Sublessee a listing on the main Building lobby directory for Sublessee. 

  
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 18. Right to Cure Defaults. If Sublessee or Sublessor shall at any time fail to make
any payment or perform any other obligation pursuant to this Sublease, then the other shall have the right, but not the obligation, after notice to the defaulting party in accordance with Section 15 of this Sublease, or without notice to the
other in the case of any emergency, and without waiving or releasing the other from any obligations of the other hereunder, to make such payment or perform such other obligation of the other in such manner and to such extent as the non-defaulting
party shall deem reasonably necessary, and in exercising any such right, to pay any incidental costs and expenses, employ attorneys, and incur and pay reasonable attorneys’ fees. The defaulting party shall pay to the non-defaulting party ten
(10) days after demand all sums so paid by the non-defaulting party and all incidental costs and expenses of the non-defaulting party in connection therewith, together with interest thereon at an annual rate equal to ten percent (10%) per
annum, or the highest rate permitted by applicable law, whichever shall be less. Such interest shall be payable with respect to the period commencing on the date such expenditures are made by the non-defaulting party and ending on the date such
amounts are repaid by the defaulting party. The provisions of this Paragraph shall survive the Expiration Date or the sooner termination of this Sublease. 
 19. Termination of Prime Lease. If for any reason other than the action, inaction, negligence or misconduct of Sublessor the term of the Prime Lease shall terminate prior to the last day of the
Term or Extended Term of this Sublease (as the case may be), this Sublease shall thereupon automatically terminate as to the premises demised under the Prime Lease and Sublessor shall not be liable to Sublessee by reason thereof except as otherwise
set forth in this Sublease; provided, however, that the foregoing is subject to the terms of the Consent. 

Neither Sublessor nor Sublessee shall do or permit anything to be done which would cause the Prime Lease to be terminated or forfeited by
reason of any right of termination or forfeiture reserved or vested in Prime Lessor or in Sublessor under the Prime Lease. Sublessor and Sublessee each shall defend, indemnify and hold the other harmless from and against any and all claims,
liabilities, losses, damages, and expenses (including reasonable attorneys fees) of any kind whatsoever by reason of any breach or default on the part of Sublessor or Sublessee (as the case may be) by reason of which the Prime Lease may be
terminated or forfeited. 
 Sublessor shall perform all of its obligations under the Prime Lease, and agrees to keep and
maintain the Prime Lease in full force and effect. In the event that either Sublessor or Sublessee shall receive any notice from Prime Lessor regarding a default pursuant to any of the provisions of the Prime Lease, the party receiving such notice
shall promptly give a copy thereof to the other party. Further, Sublessor and Sublessee each agrees to give to the other a copy of any notice of default, event of default, or otherwise under the Prime Lease that said party gives to Prime Lessor.

 Sublessor agrees not to amend, modify, surrender, cancel, or terminate the Prime Lease without Sublessee’s prior written
consent, which consent shall not be unreasonably withheld by Sublessee; provided, however, that Sublessor may amend the Prime Lease without Sublessee’s prior written consent, but only if and to the extent that (i) there is no
adverse economic effect on Sublessee and the Subleased Premises and (ii) there is otherwise no material adverse effect as to non-economic terms and conditions in the Prime Lease on Sublessee and the Subleased Premises (and if there is
any such permitted amendment to the Prime Lease, Sublessor shall promptly provide Sublessee with a copy of any such executed amendment). 

  
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 20. Sublessee Hazardous Material Activity. (a) Subject to Sublessee’s
rights under this Paragraph 20, upon the expiration or termination of this Sublease, whether by forfeiture, lapse of time or otherwise, or upon the termination of Sublessee’s right of possession, Sublessee shall surrender and deliver the
Subleased Premises and the Furniture in the condition and repair required by, and in accordance with the provisions of, this Sublease. 
 (b) Sublessee shall surrender the Subleased Premises to Sublessor free from any residual impact from Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or
disposed of from, the Subleased Premises by Sublessee or by any of Sublessee’s agents, servants, employees, and contractors (collectively, “Sublessee Hazardous Material Activity”) as provided in this Section. Notwithstanding
the foregoing, Sublessee shall not be responsible for the remediation of or otherwise liable for Hazardous Materials existing prior to the Commencement Date at, in or about the Subleased Premises, or for Hazardous Materials existing at, on, about,
or from the Subleased Premises as a result of the acts or failures to act of Sublessor or Prime Lessor. If Sublessee determines or obtains information that (i) Hazardous Materials may have existed at, in or about the Subleased Premises prior to
the Commencement Date and remain at, in, or about the Subleased Premises during the Term of the Sublease, or (ii) Hazardous Materials may exist at, on, about or from the Subleased Premises as a result of the acts or failures to act of Sublessor
or Prime Lessor, then Sublessee agrees use commercially reasonable efforts to notify Sublessor of its determination or information of the presence of Hazardous Materials as soon as reasonably practicable thereafter. 

(c) Within a reasonable period of time prior to the surrender of the Subleased Premises sufficient to provide Sublessor with adequate
notice of Sublessee’s proposed actions, Sublessee shall deliver to Sublessor a narrative description of the actions proposed (or required by any governmental entity with jurisdiction over such activities) to be taken by Sublessee, substantially
in the form attached as Exhibit E (the “Surrender Plan”), in order to surrender the Subleased Premises at the expiration or earlier termination of the Term, free from any residual impact from the Sublessee Hazardous
Material Activity (or, in the event that decontamination or remediation activities, if needed, will require additional time to render the Subleased Premises free from Sublessee Hazardous Materials Activity, a narrative description of such
proposed actions). Such Surrender Plan shall be accompanied by a listing of (i) all Hazardous Materials licenses and permits held by Sublessee or on behalf of any of Sublessee’s agents, servants, employees, and contractors with respect to
the Subleased Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Subleased Premises by Sublessee. 
 (d) The Surrender Plan shall be subject to the reasonable review and approval of Sublessor’s environmental consultant, at Sublessee’s cost, not to exceed $3,000. Upon the request of Sublessor,
Sublessee shall deliver to Sublessor or its consultant such additional non-proprietary information concerning Sublessee Hazardous Material Activity as Sublessor shall reasonably request, except that Sublessee shall not be obligated to draft,
prepare, or otherwise generate any such additional non-proprietary information that is not already in existence. 

  
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Sublessor shall approve the Surrender Plan (or provide reasons for rejecting the Surrender Plan with sufficient detail to allow Sublessee to correct the deficiencies) in writing within fifteen
business (15) days of receipt thereof, or be deemed to have accepted the same. Where revisions are required, the immediately preceding sentence shall apply except that Sublessor shall have seven business (7) days to respond in writing.

 On or before the expiration or earlier termination of this Sublease, Sublessee shall deliver to Sublessor adequate evidence
that the approved Surrender Plan shall have been satisfactorily completed and Sublessor shall have the right at Sublessor’s expense to cause Sublessor’s third-party environmental consultant to inspect the Subleased Premises and perform
such additional procedures as may be deemed reasonably necessary to confirm that the Subleased Premises are, as of the effective date of such surrender or early termination of the Sublease or at such other date as set forth in the Surrender Plan,
free from any residual impact from the Sublessee Hazardous Material Activity. 
 If Sublessee shall fail to deliver a required
Surrender Plan, or if Sublessee shall fail to complete the approved Surrender Plan, then Sublessor shall have the right to take such actions as Sublessor deems reasonably necessary to assure that the Subleased Premises are surrendered free from any
residual impact from any Sublessee Hazardous Material Activity, and the actual and necessary reasonable third-party costs of which actions shall be reimbursed by Sublessee as Additional Rent; provided, however, that Sublessor shall
provide reasonable prior written notice to Sublessee specifying Sublessee’s alleged failure and of Sublessor’s intent to take such action. 
 (e) Sublessor shall keep the terms of the Surrender Plan confidential, except that Sublessor may disclose such Surrender Plan and any report by Sublessor’s environmental consultant with respect to
the surrender of the Subleased Premises to (i) third parties with a bona fide actual or potential interest in the Subleased Premises or (ii) appropriate governmental entities if required by law, except where Sublessee has identified any
such Surrender Plan or report, or any portion thereof, as confidential or reflecting proprietary information. Sublessor must obtain the advance written consent of Sublessee prior to making any such disclosure. 

21. Consents and Approvals. All references in this Sublease to the consent or approval of Prime Lessor and/or Sublessor shall be
deemed to mean the written consent or approval of Prime Lessor and/or Sublessor, as the case may be, and no consent or approval of Prime Lessor and/or Sublessor, as the case may be, shall be effective for any purpose unless such consent or approval
is set forth in a written instrument executed by Prime Lessor and/or Sublessor, as the case may be. In all provisions requiring the approval or consent of Sublessor (whether pursuant to the express terms of this Sublease or the terms of the Prime
Lease incorporated herein), Sublessee shall be required to obtain the approval or consent of Sublessor and then to obtain like approval or consent of Prime Lessor. Sublessor agrees its consent shall not be unreasonably withheld, conditioned or
delayed. If Sublessor is required or has determined to give its consent or approval to a matter as to which consent or approval has been requested by Sublessee, Sublessor shall cooperate reasonably with Sublessee in endeavoring to obtain any
required Prime Lessor’s consent or approval upon and subject to the following terms and conditions: (i) Sublessee shall reimburse Sublessor and Prime Lessor for any reasonable third-party out-of-pocket costs incurred by Sublessor in
connection with seeking such consent or 

  
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approval, (ii) Sublessor shall not be required to make any payments to Prime Lessor (unless Sublessee pays such costs in advance) or to enter into any agreements or to modify the Prime
Lease, or this Sublease in order to obtain any such consent or approval, and (iii) if Sublessee agrees or is otherwise obligated to make any payments to Sublessor or Prime Lessor in connection with such request for such consent or approval,
Sublessee shall have made arrangements for such payments which are reasonably satisfactory to Sublessor. Nothing contained in this Article shall be deemed to require Sublessor or Sublessee to give any consent or approval because Prime Lessor has
given such consent or approval. Sublessor and Sublessee each shall promptly forward to Prime Lessor such requests as the other may submit for approval or consent from Prime Lessor. 

22. Quiet Enjoyment. Sublessor covenants that if Sublessee is not in default beyond the expiration of any applicable notice and
cure periods, then Sublessee shall quietly enjoy and occupy the full possession of the Subleased Premises without molestation or hindrance by Sublessor or any party claiming through Sublessor. 

23. No Privity of Estate. Nothing contained in this Sublease shall be construed to create privity of estate or of contract between
Sublessee and Prime Lessor. 
 24. No Waiver. The failure of either party to insist in any one or more cases upon the
strict performance or observance of any obligation of the other party hereunder or to exercise any right or option contained herein shall not be construed as a waiver or relinquishment for the future performance of any such obligation of such party
or any right or option of the other party. Sublessor’s receipt and acceptance of Rent or Sublessor’s acceptance of performance of any other obligation by Sublessee, with knowledge of Sublessee’s breach of any provision of this
Sublease, shall not be deemed a waiver of such breach. No waiver of any term, covenant or condition of this Sublease shall be deemed to have been made unless expressed in writing and signed by both parties. 

25. Complete Agreement. This Sublease constitutes the entire agreement between the parties and there are no representations,
agreements, arrangements or understandings, oral or written, between the parties relating to the subject matter of this Sublease which are not fully expressed in this Sublease. This Sublease cannot be changed or terminated orally or in any manner
other than by a written agreement executed by both parties. This Sublease shall not be binding upon either party unless and until it is signed and delivered by and to both parties, and is further subject to Section 29. 

26. Successors and Assigns. The provisions of this Sublease, except as herein otherwise specifically provided, shall extend to,
bind, and inure to the benefit of the parties hereto and their respective personal representatives, heirs, successors and permitted assigns. 
 27. Governing Law; Jurisdiction. This Sublease shall be construed in accordance with, and governed in all respects by, the laws of the Commonwealth of Massachusetts (without giving effect to
principles of conflicts of laws that would require the application of any other law). Sublessor and Sublessee agree to submit to the jurisdiction of the state and federal courts located in the Commonwealth of Massachusetts, with venue in the County
of Middlesex, and waive any defense of inconvenient forum to the maintenance of any action or proceeding in such courts. 

  
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 28. Waiver of Jury Trial and Right to Counterclaim. The parties hereto hereby waive
any rights which they may have to trial by jury in any summary action or other action, proceeding or counterclaim arising out of or in any way connected with this Sublease, the relationship of Sublessor and Sublessee, the Subleased Premises and the
use and occupancy thereof, and any claim for injury or damages. Sublessee also hereby waives all right to assert or interpose a counterclaim (other than mandatory counterclaims) in any summary proceeding or other action or proceeding to recover or
obtain possession of the Subleased Premises. 
 29. Estoppel Certificates. Sublessee and Sublessor shall each, within
fifteen (15) days after each and every request by the other party, execute, acknowledge and deliver to the other party or any other party reasonably designated by the other party, without cost or expense to the other party, a statement in
writing (a) certifying that this Sublease is unmodified and, to its knowledge, is in full force and effect (or if there have been modifications, that the same is in full force and effect as modified, and stating such modifications);
(b) specifying the dates to which Rent has been paid; (c) stating whether or not, to its knowledge, the other party is in default in the performance or observance of such other party’s obligations under this Sublease and, if so,
specifying each such default; (d) stating whether or not, to its knowledge, any event has occurred which, with the giving of notice or passage of time, or both, would constitute a default by the other party under this Sublease, and, if so,
specifying each such default; (e) stating whether or not, to its knowledge, any event has occurred which, with the giving of notice or passage of time, or both, would constitute a default by Prime Lessor under the Prime Lease with respect to
the Subleased Premises, and, if so, specifying such event; (f) describing all notices of default submitted by it to the other party and Prime Lessor with respect to this Sublease, or the Prime Lease from and after the date thereof; and
(g) containing such other information with respect to the Subleased Premises or this Sublease as the other party shall reasonably request. Each party hereby acknowledges and agrees that any such statement delivered pursuant to this Paragraph
may be relied upon by any prospective assignee, transferee or mortgagee of the leasehold or subleasehold estate of the other party. 
 30. Consent of Prime Lessor; Non-Disturbance and Recognition Agreement. This Sublease is contingent on the approval and consent of Prime Lessor, which Sublessor agrees to use all reasonable efforts
to obtain. This Sublease shall not become effective unless and until a written approval and consent (the “Consent”) is executed and delivered by the Prime Lessor and Sublessee, which Consent shall be in form and substance
satisfactory to Sublessee in its sole discretion, and which Consent shall specifically include a satisfactory estoppel, representations, and non-disturbance agreement, wherein Prime Lessor agrees not to disturb Sublessee’s tenancy during the
Term of this Sublease even if Sublessor has defaulted under the Prime Lease, so long as Sublessee is not then in default under this Sublease beyond any applicable notice and cure provisions. After the Sublessor receives the Consent as executed by
Prime Lessor, Sublessor agrees to promptly deliver a fully executed original of the Consent to Sublessee. The effect and commencement of this Sublease is subject to and conditional upon the receipt by Sublessor and Sublessee of the Consent executed
by Prime Lessor. Upon execution of this Sublease by Sublessee, Sublessor will promptly apply to the Prime Lessor for the Consent and Sublessor will promptly inform Sublessee as to receipt of the Consent (if and when it is received) and deliver to
Sublessee a copy of the same. 

  
 -20-

 If the Consent is not received within five (5) business days after this Sublease is
fully executed by both Sublessor and Sublessee (the “Sunset Date”), then from and after the Sunset Date this Sublease will cease to have any further effect and the parties hereto will have no further obligations to each other with
respect to this Sublease and any funds paid hereunder by Sublessee shall be promptly refunded by Sublessor. 
 31.
Holdover. If Sublessee remains in possession of the Subleased Premises after the last day of the Term or Extended Term (as the case may be) without the express written consent of Sublessor, (a) Sublessee shall become a tenant at
sufferance upon the terms of this Sublease except that the monthly rental shall be equal to 175% of Rent in effect during the last 30 days of the Term or Extended Term, and (b) Sublessee shall be responsible for all damages suffered by
Sublessor resulting from or occasioned by Sublessee’s holding over, including consequential damages. No holding over by Sublessee, whether with or without consent of Sublessor, shall operate to extend this Sublease except as otherwise expressly
provided, and this Section 31 shall not be construed as consent for Sublessee to retain possession of the Subleased Premises. Acceptance by Sublessor of Rent after the expiration of the Term or Extended Term or earlier termination of
this Lease shall not result in a renewal or reinstatement of this Sublease. 
 32. Certain Lease Provisions. With respect
to the Sublease Premises, Sublessee shall be entitled to the maintenance and other services and rights to which Sublessor is entitled under the Prime Lease, including but not limited to indemnification rights that Sublessor can assert against Prime
Lessor under the Prime Lease, whether relating to Hazardous Materials or otherwise. In the event that Prime Lessor shall fail to furnish such services or perform any of the terms, covenants, conditions or obligations contained in the Prime Lease on
its part to be performed, Sublessor shall be under no obligation or liability whatsoever to Sublessee for such failure; provided, however, that Sublessor shall, upon written notice from Sublessee, use commercially reasonable efforts to
enforce the terms of the Prime Lease based on reasonable consultation with Sublessee, at Sublessee’s sole cost and expense. If Prime Lessor shall default in the performance of any of its obligations under the Prime Lease, Sublessor shall, upon
request and at the expense of Sublessee, timely institute and diligently prosecute any action or proceeding reasonably requested by Sublessee (based on reasonable consultation with Sublessee) to have Prime Lessor comply with any obligation of Prime
Lessor under the Prime Lease or as required by law, and shall otherwise cooperate with Sublessee as may be reasonably necessary to enable Sublessee to enforce the obligations of Prime Lessor. Sublessee shall indemnify and hold harmless Sublessor
from and against any and all costs or claims arising out of or in connection with any such action or proceeding undertaken by Sublessor as set forth in this Section. 
 33. Recording. Sublessor and Sublessee agree that neither party may record this Sublease. 
 34. Public Statements. Except to the extent required by law or the rules of the U.S. Securities and Exchange Commission, any stock exchange or any listing entity (including, but not limited to,
NASDAQ), neither party will make any public statements or releases concerning 

  
 -21-

 
this Sublease, or use the other party’s name in any form of advertising, promotion or publicity, without obtaining the prior written consent of the other party, which consent will not be
unreasonably withheld or delayed. 
 35. Limitation of Liability. Notwithstanding any indemnities or other provisions
hereof to the contrary, in no event shall Sublessor or Sublessee be responsible for any consequential, incidental, special or punitive damages, except as set forth in Section 30. 

36. Certain Definitions. 
 (a) All capitalized terms not defined in this Sublease shall have the meanings ascribed to them in the Prime Lease. 
 (b) The terms “herein”, “hereunder”, and “hereof” shall refer to this Sublease as a whole unless the context otherwise indicates. 

37. Counterparts. This Sublease may be executed in multiple counterparts, each of which shall be deemed an original but all of
which taken together shall constitute one and the same instrument. The undersigned may rely upon facsimile counterparts signed by each other, but shall promptly upon the request of the other exchange executed original signature pages. 

38. Time is of the essence. Time is of the essence with respect to each provision of this Sublease. 

[Remainder of Page Intentionally Left Blank] 

  
 -22-

 IN WITNESS WHEREOF, Sublessor and Sublessee have executed this Sublease as a sealed
instrument as of the date first written above. 
  

					
	SUBLESSOR:
	Alnylam Pharmaceuticals, Inc.
		
	By:	 	 /s/ Patricia L. Allen

		 	Name:	 	 Patricia L. Allen

		 	Title:	 	 VP, Finance & Treasurer

	
	 SUBLESSEE:

sanofi-aventis U.S. Inc.

		
	By:	 	 /s/ Thomas G. Metcalf

		 	Name:	 	 Thomas G. Metcalf

		 	Title:	 	 Vice President US R&D

  
 -23-

 EXHIBIT A 
 PRIME LEASE 
 Exhibit A has been filed separately as Exhibits 10.15, 10.16, 10.17 and 10.18
to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 and is incorporated herein by reference. 

  
 -24-

 EXHIBIT B (1 OF 3) 

FIRST FLOOR PREMISES 
  

 

  
 -25-

 EXHIBIT B (2 OF 3) 

300 SF CHEMICAL STORAGE ROOM 
  

 

  
 -26-

 EXHIBIT B (3 OF 3) 

2010 ACID NEUTRALIZATION ROOM 
  

 

  
 -27-

 EXHIBIT C 
 FURNITURE 
  

							
	 Equipment and Furniture Items
	  	 Manufacturer
	  	 QTY
	 
			
	Furniture, Café Appliances & Lab Items AV	  		  			
			
	Offices, conference rooms & café	  	FMC	  	 	*	  
	Kitchen Appliances	  	Yale Appliances	  	 	*	  
	AV Equipment Board Room & Café	  		  	 	*	  
			
	ACF Lab	  		  			
			
	Autoclave/Sterilizer	  	Consolidated Stills & Sterilizers	  	 	1	  
	Cage Washer	  	Northwestern Systems Corp	  	 	1	  
	6’ Biosafety Cabinet	  	Baker	  	 	1	  
	Bedding Dump Station	  	Viking	  	 	1	  
			
	General Lab	  		  			
			
	Lab Vacuum System	  	Air Energy	  	 	1	  
	Autoclave/Sterilizer	  	Consolidated	  	 	1	  

  

	*	as now existing. 

  
 -28-

 EXHIBIT D 
 DESCRIPTION OF DOCUMENTATION DESCRIBING ENVIRONMENTAL CONDITION OF SUBLEASED PREMISES 
  

	1.	Environ Report 

  

	2.	Radiation Permit/Closure documentation, to be delivered pursuant to and in accordance with the Environ Report. 

  
 -29-

 EXHIBIT E 
 FORM OF SURRENDER PLAN 
  

 
 Tenant Surrender Plan 

Name of Tenant 

Addressed of Leased Space 
 Prepared for: 
 Alexandria Real Estate Equities. Inc. 

Pasadena, California 
 Prepared by: 
 TENANT NAME 

CITY, STATE 

Date: 
 Month
Year 
  
  

  
 -30-

  
  
 Contents 
  

							
	 	 	 	  	Page	 
	 1.0
	 	Introduction	  	 	1	  
	 1.1
	 	General Site Information	  	 	1	  
	 1.2
	 	Chemical, Biological, and Radioactive Agents	  	 	2	  
	 1.2.1
	 	Chemical Agents	  	 	2	  
	 1.2.2
	 	Biological Agents	  	 	2	  
	 1.2.3
	 	Radiological Agents	  	 	2	  
			
	 2.0
	 	Equipment	  	 	3	  
	 2.1
	 	Equipment Inventory	  	 	3	  
	 2.2
	 	Disposition of Equipment	  	 	3	  
			
	 3.0
	 	Waste Management and Wastewater Discharges	  	 	4	  
	 3.1
	 	Hazardous Waste	  	 	4	  
	 3.2
	 	Biological Waste	  	 	4	  
	 3.3
	 	Radiological Waste	  	 	4	  
	 3.4
	 	Wastewater Discharges	  	 	4	  
			
	 4.0
	 	Decontamination Procedures	  	 	5	  
	 4.1
	 	Equipment	  	 	5	  
	 4.2
	 	Disposition of Equipment	  	 	5	  
	 4.2.1
	 	Chemical Use Areas	  	 	5	  
	 4.2.2
	 	Biological Agent Use Areas	  	 	5	  
	 4.2.3
	 	Radiological Agent Use Areas	  	 	5	  
	 4.3
	 	Final Waste Shipments	  	 	5	  
			
	 5.0
	 	Permits	  	 	6	  
			
	 6.0
	 	Spills	  	 	7	  

 List of Appendices 
 Appendix A 
  
  

  
 i 

  
  

1.0 Introduction 
 The purpose of this
Surrender Plan is to provide detailed information regarding decommissioning procedures followed by a tenant at the conclusion of its tenancy at the leased space (“the Premises”). This Surrender Plan will be used by ARE to evaluate, from a
health and safety standpoint, whether the space will be suitable for re-occupancy by a biotechnology tenant. This Surrender Plan includes information regarding the tenant’s operations, types of hazardous materials used, waste management
practices, decontamination procedures, and permit closure/transfer documentation. 
 1.1 General Tenant Information 

 

			
	Name of tenant	  	 
	Address of leased space (include Suite numbers)	  	
	Length of time at leased space	  	
	Approximate square footage of leased space	  	Office space:
	  	Lab space:
	  	Total:
	 Tenant contact (for follow-up
 questions regarding Surrender Plan)
	  	Name
	  	Title
	  	Years with company
	  	Telephone number
	  	E-mail address
	Lease end date	  	
	Scheduled date for vacating leased space	  	
	Location company is moving to	  	
	Site plan included?	  	 ̈  No     ̈  Yes, see Appendix
        
	General description of operations (include Biosafety level(s) of laboratory spaces, the nature of the company’s business, and types of activities conducted
on-site)

  
  

1 of 7 

  
  

1.2 Chemical, Biological, and Radioactive Agents 
 This section provides information regarding chemical, biological (including vivariums), radiological agents (collectively “Agents”) used on the Premises. 

1.2.1 Chemical Agents 
 Identify all
chemicals used at the property, including name, quantity(ies) used, maximum volume of storage containers, etc., OR refer to a chemical inventory to be included in an Appendix to this Plan. 
 1.2.2 Biological Agents 
 Identify all biological agents used at the property, including
name, quantity(ies) used, maximum volume of storage containers, etc., OR refer to a biological agent inventory to be included in an Appendix to this Plan. 
 1.2.3 Radiological Agents 
 Identify all radiological materials used at the property,
including name, quantity(ies) used, maximum volume of storage containers, etc., OR refer to a radiological material inventory to be included in an Appendix to this Plan. 

  
  

2 of 7 

  
  

2.0 Equipment 
 The section describes the
equipment used by the tenant, and identifies which equipment will be moved off-site and which equipment will remain on the Premises. 
 2.1
Equipment Inventory 
 Please provide an inventory of equipment, instruments, and laboratory apparatus (collectively “Equipment”).

 2.2 Disposition of Equipment 

Describe Equipment to be removed from the Premises, and Equipment to remain at the Premises. Equipment to remain at the Premises which is not the property
of ARE, shall be pursuant to an express agreement with ARE. 

  
  

3 of 7 

  
  

3.0 Waste Management and Wastewater Discharges 
 This section describes hazardous, biological, or radiological waste disposal and wastewater discharge practices that occurred at the Premises during your occupancy. Provide final manifests for each type
of waste as appropriate as an Appendix. 
 3.1 Hazardous Waste 
 Identify types of hazardous waste generated, and describe storage and handling practices. Describe how remaining hazardous wastes will be disposed of. Please include information on hazardous waste
contractor used and provide final manifests in an Appendix as appropriate. 
 3.2 Biological Waste 

Identify types of biological waste generated, and describe storage and handling practices. Describe how remaining biological wastes will be disposed of.
Please include information on biological waste contractor used and provide final manifests in an Appendix as appropriate. 
 3.3 Radiological
Waste 
 Identify types of radiological waste generated, and describe storage and handling practices. Describe how remaining radiological
wastes will be disposed of. Please include information on radiological waste contractor used and provide final manifests in an Appendix as appropriate. 
 3.4 Wastewater Discharges 
 Sanitary waste from bathrooms is discharged to the municipal
sanitary sewer system. In addition, laboratory sink discharges pass through a waste neutralization tank for pH control and are then directed to the
                    . 

  
  

4 of 7 

  
  

4.0 Decontamination Procedures 
 The
section describes plans to remove all trash and broom clean the Premises, including laboratory and office spaces. In addition, decontamination procedures are provided below. 
 4.1 Equipment 
 Describe plans to decontaminate Equipment that is intended to remain in the
Premises, and plans to decontaminate, pack, remove, and/or dispose of other Equipment that will be removed from the Premises (i.e., biosafety cabinets). Provide specific information regarding the type of decontaminating Agent(s) to be used on
equipment (e.g., 10% bleach, ethanol, para-formaldehyde, Spor-Klenz), anticipated location(s) of use, and proposed contact time for decontaminating Agent(s). 
 In addition, describe plans to remove all Agents from the Premises and provide information on plans to decontaminate, pack, remove, and/or dispose of said Agents. 

4.2 Disposition of Equipment 
 Describe
plans to decontaminate the Premises, including bench tops, hoods, sinks, shelves, walls, floors, etc., utilizing cleaning agents that are appropriate with use history at the Premises in order to remove contamination and/or staining. Provide specific
information regarding the type of decontaminating Agent(s) to be used on the Premises (except for Equipment, which is to be described above), anticipated location(s) of use, and proposed contact time for decontaminating Agent(s). The discussion
should address the following areas, as appropriate: 
 4.2.1 Chemical Use Areas 
 Include as appropriate 
 4.2.2 Biological Agent Use Areas 

Include as appropriate 
 4.2.3 Radiological
Agent Use Areas 
 Include as appropriate; include copy of radiation survey 
 4.3 Final Waste Shipments 
 Describe the nature of final waste shipments including (if not
done previously in the Plan) those for hazardous wastes, biological wastes, and radiological wastes. Please include the name(s) of the waste removal vendor(s) (e.g., Veolia, Safety Kleen, Stericycle, Clean Harbors, etc.). 

  
  

5 of 7 

  
  

5.0 Permits 
 Identify all environmental
permits, licenses, waste generator numbers, etc. (collectively “Permits”) related to the use, storage, and disposal of Agents and associated wastes at the Premises and plans, including any sampling requirements, for canceling or
transferring said Permits and Licenses, as appropriate. 
 Check all that apply: 

 

									
	 Permit, License, or Registration
	  	 Permit
Number
	  	Date of
Expiration	  	 Status (e.g., cancelled,

transferred)

	 ̈	  	Federal - Bureau of ATF -Tax-Free Alcohol Permit	  		  		  	
	 ̈	  	Federal - DEA - Controlled Substances Registration	  		  		  	
	 ̈	  	Federal - EPA - Hazardous Waste Generator	  		  		  	
	 ̈	  	State - DPH - Radioactive Materials License	  		  		  	
	 ̈	  	State - DEP - Air Pollution Source Registration	  		  		  	
	 ̈	  	State - DEP - Hazardous Waste Generator (w/ EPA Reg.)	  		  		  	
	 ̈	  	State - State FDA - Controlled Substances Registration	  		  		  	
	 ̈	  	State - Sewer Use Discharge Permit (e.g., MWRA)	  		  		  	
	 ̈	  	Local - Fire Dept - Flammable Storage Permit	  		  		  	
	 ̈	  	Local - rDNA Permit	  		  		  	
	 ̈	  	Others (Add additional rows as needed)	  		  		  	

  
  

6 of 7 

  
  

6.0 Spills 
 Describe any known spills or
wastewater discharge exceedances at the Premises. Include copies of regulatory correspondence as an Appendix, as appropriate. 

  
  

7 of 7 

  
  

Appendix A: 

NAME 

 FIRST AMENDMENT TO SUBLEASE 

This First Amendment to Sublease (the “First Amendment”) is made and entered into effective as of the Effective
Date (as that term is defined in Section 10(h) below) by and between Alnylam Pharmaceuticals, Inc., a Delaware corporation, having an address at 300 Third Street, Cambridge, MA 02142 (“Sublessor”), and sanofi-aventis
U.S. Inc., a Delaware corporation (“Sublessee”). 
 WITNESSETH: 

WHEREAS, pursuant to that certain Lease (“Original Lease’) dated as of September 26, 2003, as amended (1) by a
First Amendment to Lease dated March 16, 2006 between ARE-MA REGION NO. 28, LLC (“Prime Lessor”) (as successor to Three Hundred Third Street LLC), and Sublessor (as successor to Alnylam U.S., Inc., a Delaware corporation that
is a subsidiary of Sublessor and was formerly known as Alnylam Pharmaceuticals, Inc. (“Original Tenant”), pursuant to an Assignment of Lease dated February 28, 2006 between Original Tenant and Sublessor), (2) by a Second
Amendment to Lease between Prime Lessor and Sublessor dated June 26, 2009, (3) by a Third Amendment to Lease between Prime Lessor and Sublessor dated May 11, 2010, and (4) by a Fourth Amendment to Lease between Prime Lessor and
Sublessor dated November 4, 2011 (“Fourth Amendment”) (such lease, as so amended, and all renewals, modifications and extensions thereof as permitted hereafter being hereinafter collectively referred to as the “Prime
Lease”), Prime Lessor leases to Sublessor with certain appurtenant rights certain premises in the building known as and numbered 300 Third Street, Cambridge, Massachusetts (all as more particularly described in the Prime Lease, the
“Premises”); 
 WHEREAS, pursuant to that certain Sublease dated as of August 3, 2010 (the
“Original Sublease’), Sublessor subleased to Sublessee a portion of the Premises known as the Subleased Premises according to the terms and conditions set forth in the Original Sublease; 

WHEREAS, the Original Sublease provides that the Term expires on December 31, 2011; and 

WHEREAS, Sublessor and Sublessee desire to extend the Term and amend the Original Sublease as set forth in this First Amendment.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties covenant and agree as follows: 
 1. Recitals. The Recitals above are incorporated by reference into this First
Amendment. 
 2. Capitalized Terms. All capitalized terms and words used in this First Amendment shall have the same
meaning as set forth in the Original Sublease unless a 

  
 1 

 
contrary meaning is expressly set forth herein. Not in limitation of the foregoing, any reference in the Sublease to “Sublease Term” or “term of the Sublease”
shall expressly include the extended Term, as described in Section 4(a)(i) below. 
 3. Payment by Sublessee. As
partial consideration for this First Amendment, and in lieu of Sublessor having any right to terminate the Sublease Term prior to the Original Expiration Date, Sublessee shall make a one-time, non-refundable payment of one million five hundred
thousand dollars ($1,500,000) to Sublessor (the “First Amendment Payment”) as follows: 
 Sublessee shall pay
the First Amendment Payment to the law firm of Faber Daeufer Itrato & Cabot PC, acting not as counsel for Sublessor but as escrow agent (“Escrow Agent”) pursuant to the terms and conditions of that certain escrow agreement
dated as of November 4, 2011 (the “Escrow Agreement”) executed among Sublessor, Sublessee, and Prime Lessor, pursuant to which Escrow Agent will be authorized to distribute nine hundred thousand dollars ($900,000) to Sublessor,
and will be authorized to distribute six hundred thousand dollars ($600,000) to Prime Lessor. The First Amendment Payment shall be made (the “First Amendment Payment Date”) by wire transfer of immediately available funds within five
(5) business days after the full execution and delivery of the Escrow Agreement and the delivery into escrow pursuant to the Escrow Agreement of all the following documents: (i) this First Amendment; (ii) the Consent as described in
Section 9 of this First Amendment; (iii) a first amendment to the Equipment Lease Agreement; and (iv) the Fourth Amendment. 
 4. Amendment of Sublease. Subject to Section 9 of this First Amendment, the Original Sublease is hereby amended as follows: 

(a) Term Extension. Section 2(a) of the Original Sublease is hereby amended as follows: 

 

	 	(i)	The first paragraph of Section 2(a) is hereby deleted in its entirety and replaced with the following sentence: 

The term of this Sublease (the “Term”) shall commence upon October 1, 2010 (the “Commencement
Date”) and shall expire on September 30, 2016 (the “Original Expiration Date”), unless sooner terminated as provided herein. 
  

	 	(ii)	The second full paragraph of Section 2(a) is hereby deleted in its entirety. 

(b) No 3-Month Extension Right; Sublessee’s Termination Right. Section 2(c) of the Original Sublease is hereby deleted
in its entirety and Sublessee hereby waives its right to exercise its option to the Extended Term (as defined in the Original Sublease). 

  
 2 

 The following new Section 2(c) hereby replaces Section 2(c) in the Original
Sublease: 
 Sublessee’s Termination Right. Notwithstanding anything to the contrary contained in this Sublease,
Sublessee shall have the right to terminate this Sublease prior to the Original Expiration Date (the “Termination Right”) according to the following terms and conditions: (i) Sublessee may only exercise its Termination Right
one time, and which right shall be exercised only with regard to all of the Subleased Premises, (ii) Sublessee must provide Sublessor written notice of Sublessee’s election to exercise its Termination Right on or before March 31,
2013, (iii) the effective date of any termination of this Sublease by Sublessee pursuant to this Section 2(c) shall be December 31, 2013, and (iv) in consideration for Sublessee’s exercise of the Termination Right, Sublessee
shall make a one-time, non-refundable payment to Sublessor in the sum of one million one hundred twenty thousand seventy hundred sixty-one and 30/100 dollars ($1,120,761.30) (the “Termination Fee”) on or before December 13,
2013. 
 (c) Rent. Section 4(a) of the Original Sublease is hereby deleted and is replaced in its entirety with the
following: 
  

	 	(a)	Sublessee shall pay rent (the “Rent”) to Sublessor for the Subleased Premises at the following rates for the following time periods and such Rent is
intended to be on a triple net basis: 

  

													
	 Time Period
	  	Yearly Rent	 	  	Monthly Rent	 	  	P.S.F.	 
	 October 1, 2010 through December 31, 2011
	  	$	1,666,686.00	  	  	$	138,890.50	  	  	$	49.00	  
	 January 1, 2012 through December 31, 2012
	  	$	1,836,756.00	  	  	$	153,063.00	  	  	$	54.00	  
	 January 1, 2013 through December 31, 2013
	  	$	1,870,770.00	  	  	$	155,897.50	  	  	$	55.00	  
	 January 1, 2014 through December 31, 2014
	  	$	1,904,784.00	  	  	$	158,732.00	  	  	$	56.00	  
	 January 1, 2015 through December 31, 2015
	  	$	1,938,798.00	  	  	$	161,566.50	  	  	$	57.00	  
	 January 1, 2016 through September 30, 2016
	  	$	1,479,609.00	  	  	$	164,401.00	  	  	$	58.00	  

 (d) Additional Rent. Section 4(b) of the Original Sublease is hereby deleted and replaced in
its entirety with the following: 
 Sublessee will pay its proportionate share of Sublessor’s cost of the actual Operating
Expenses (as defined in the Prime Lease) and Taxes (as defined in the Prime Lease), each as “Additional Rent,” as well as Sublessee’s 

  
 3 

 
proportionate share of any Reconciliation (as defined in the Prime Lease); provided that Sublessee is entitled to receive its proportionate share of any Reconciliation, and if Sublessee is
so entitled to receive any such sum, then Sublessor shall pay Sublessee such sums in cash within ten (10) days of the date Prime Lessor and Sublessor agree on such sums. Sublessee’s proportionate share of Sublessor’s cost of Operating
Expenses and Taxes shall be 26.28%. Sublessor shall inform Sublessee of its Operating Expense, Tax, and Reconciliation obligations within thirty (30) days of receipt from Prime Lessor of a statement or demand therefor, and shall provide
reasonable detail to allow Sublessee to evaluate its share. 
 Sublessee shall be responsible for paying for the actual cost of
its electricity and gas, pursuant to, and as measured by, separate submeters for electricity and gas, which submeters Sublessor represents are currently installed and fully operational for the Subleased Premises, and Sublessee also shall pay for the
cleaning of the Subleased Premises. 
 (e) Furniture Rental. 

Sublessor and Sublessee acknowledge and agree that Sublessor previously purchased the Furniture from Archemix, and that Sublessor and
Sublessee have executed and delivered that certain Equipment Lease Agreement dated as of October 1, 2010 relating thereto (the “Equipment Lease Agreement”). In connection with the extension of the Term as described in
Section 4 of this First Amendment, Sublessor and Sublessee agree as follows regarding the Furniture: 
 (i)
Within five (5) business days after the First Amendment Payment Date, Sublessee shall pay Sublessor the sum of Twenty Seven Thousand Five Hundred Dollars ($27,500.00), and 

(ii) If Sublessee does not terminate this Sublease as provided in Section 2(c) of this Sublease (as described in
Section 4 of this First Amendment), then Sublessee shall pay Sublessor the sum of Twenty Seven Thousand Five Hundred Dollars ($27,500.00) on or before August 15, 2014, at which time Sublessee will own the Furniture. Contemporaneously with
such payment by Sublessee, and as a pre-condition thereto, Sublessor will execute and deliver to Sublessee a bill of sale to the Furniture in a form reasonably satisfactory to both parties; provided, that in case of such payment, upon the
expiration or earlier termination of this Sublease, Sublessee shall have the right, in Sublessee’s sole discretion, either to remove the Furniture from the Subleased Premises on or before the Original Expiration Date or leave the
Furniture in the Subleased Premises, and in the latter case, Sublessee will execute and deliver to Sublessor a bill of sale to the Furniture by which title to the Furniture is revested in Sublessor. Sublessee will use reasonable efforts to notify
Sublessor of which option Sublessee elects (i.e., whether to remove the Furniture or to leave the Furniture in the Subleased Premises) within thirty (30) days prior to the last day of the Sublease Term. 

  
 4 

 In addition, the second to last sentence of Section 1 of the Original Sublease is
hereby deleted, and the last sentence of Section 1 is hereby deleted and replaced with the following: 
 If Sublessee does
not purchase the Furniture, it shall have no duty to remove such Furniture or said cabling upon the expiration or earlier termination of this Sublease. 
 In addition, Section 4(d) of the Original Sublease is hereby deleted and replaced in its entirety with the following: 
 Other than payments for Rent, Additional Rent, parking spaces, the Termination Fee described in Section 4 of this First Amendment (if Sublessee exercises its Termination Right), the First Amendment
Payment described in Section 3 of this First Amendment, and the Furniture rental payments described in Section 4(e) of this First Amendment, Sublessee shall owe no other sums under or pursuant to this Sublease or the Prime Lease.

 5. No Assignment or Subleasing. Section 9 of the Original Sublease is hereby amended by adding the following new
subsection (c): 
 (c) Not in limitation of the provisions of Section 21 of the Sublease, Sublessor and Sublessee
specifically acknowledge and agree that in connection with any approval or consent that is required to be given by Sublessor pursuant to this Section 9, Sublessor agrees that it will not unreasonably withhold, condition, or delay its approval
or consent. 
 6. Representations and Warranties. (a) Sublessee represents and warrants to Sublessor, to
Sublessee’s actual knowledge, that as of the Effective Date: (i) Sublessee is not in default under the terms of the Sublease; (ii) there is no action or inaction by Sublessor that would constitute a default or event of default by
Sublessor under the Sublease; and (iii) Sublessee has full right, power, and authority to execute and deliver this First Amendment, Sublessee is authorized by all required corporate action to execute this First Amendment, and the individual
signing this First Amendment on behalf of Sublessee is duly authorized to do so. 
 (b) Sublessor represents and warrants to
Sublessee that, to Sublessor’s actual knowledge, as of the Effective Date: (i) Sublessor is not in default under the terms of the Sublease; (ii) there is no action or inaction by Sublessee that would constitute a default or event of
default by Sublessee under the Sublease; and (iii) Sublessor has the full right, power, and authority to execute and deliver this First Amendment, Sublessee is authorized by all required corporate action to execute this First Amendment, and the
individual signing this First Amendment on behalf of Sublessor is duly authorized to do so. 

  
 5 

 (c) Sublessor represents and warrants to Sublessee, as of the Effective Date, that all
representations and warranties made by Sublessor in the Sublease (including but not limited to those representations and warranties in Section 11 of the Sublease) continue to be true, accurate, and complete. 

7. Brokerage. Sublessee and Sublessor each represents that it has not dealt with any broker in connection with this First
Amendment other than Richards, Barry, Joyce & Partners LLC and Zell Partnership, Inc. (the “Brokers”). Each party agrees to indemnify and hold harmless the other from and against any and all liabilities, claims, suits,
demands, judgments, costs, interest and expenses (including, without being limited to, reasonable attorneys’ fees and expenses) which the indemnified party may be subject to or suffer by reason of any breach of the foregoing representations.
Sublessor shall pay the Brokers the brokerage fee/commissions due under separate agreements between and among Sublessor and Brokers and shall indemnify and hold Sublessee harmless from and against any and all liabilities, claims, suits, demands,
judgments, costs, interest and expenses (including, without being limited to, reasonable attorneys’ fees and expenses) which Sublessee may be subject to or suffer by reason of any claim made by the Brokers for any fees/commissions, expense or
other compensation as a result of the execution and delivery of this First Amendment, other than a claim based upon any agreement with Sublessee or Sublessee’s agents, representatives or employees. 

In addition, Louis Kluger of Zell Partnership Inc. (as broker) and JM Zell Partners, LTD. (as consultant) are working with Sublessee with
a fiduciary duty solely to Sublessee, and are not acting as agent for Sublessor. 
 8. Sublessee’s Notice Address.
Sublessee’s address in Section 15 of the Original Sublease is hereby amended as follows: 
 sanofi-aventis U.S. Inc.

 55 Corporate Drive 
 Mail Stop 55-A-510 
 Bridgewater, NJ 08807 

Attn: Mark R. Shaw. 
 The
“with a copy to” addresses for Sublessee shall remain the same, and are not changed. 
 9. Consent of Prime
Lessor. This First Amendment is contingent on the approval and consent of Prime Lessor, which Sublessor agrees to use all reasonable efforts to obtain. This First Amendment shall not become effective unless and until a written approval and
consent (the “Consent”) is executed and delivered by the Prime Lessor, Sublessor, and Sublessee, which Consent shall be in form and substance satisfactory to Sublessor and Sublessee (respectively) in the sole discretion of each, and
which Consent shall specifically include a satisfactory estoppel, representations, and non-disturbance 

  
 6 

 
agreement, wherein Prime Lessor agrees not to disturb Sublessee’s tenancy during the Term (as extended by this First Amendment) even if Sublessor has defaulted under the Prime Lease, so long
as Sublessee is not then in default under the Original Sublease, as amended by this First Amendment, beyond any applicable notice and cure provisions. After the Sublessor receives the Consent as executed by Prime Lessor, Sublessor agrees to promptly
deliver a fully executed original of the Consent to Escrow Agent, with a copy to Sublessee. The effect and commencement of this First Amendment is subject to and conditional upon the receipt by Sublessor and Sublessee of the Consent executed by
Prime Lessor. Upon execution of this First Amendment by Sublessee and Sublessor, Sublessor will promptly apply to the Prime Lessor for the Consent, and Sublessor will promptly inform Sublessee as to receipt of the Consent (if and when it is
received) and deliver to Sublessee a copy of the same. 
 If the fully executed Consent is not received by Sublessee from Escrow
Agent within five (5) business days after this First Amendment is fully executed by both Sublessor and Sublessee (the “Sunset Date”), then from and after the Sunset Date this First Amendment will cease to have any further
effect and the parties hereto will have no further obligations to each other with respect to this First Amendment, any funds paid hereunder by Sublessee shall be promptly refunded by Escrow Agent, and the Original Sublease shall be and remain in
full force and effect according to its terms. 
 10. Miscellaneous. 

(a) Continuing Effect of the Original Sublease. Other than as set forth in this First Amendment, all of the terms and conditions
contained in the Original Sublease remain in full force and effect and are binding upon both Sublessor and Sublessee. All references in the Original Sublease to “this Sublease” shall be deemed references to the Original Sublease, as
modified by this First Amendment. As amended hereby, the Sublease is hereby ratified and confirmed by Sublessor and Sublessee, and Sublessor and Sublessee each agrees to be bound thereto. 

(b) Successors and Assigns. The terms and provisions of this First Amendment shall bind and inure to the benefit of the parties
hereto and their respective successors and assigns. 
 (c) Captions. The captions contained in this First Amendment are
for convenience only and shall in no way define, limit or extend the scope or intent of this First Amendment, nor shall such captions affect the construction hereof. 
 (d) Counterparts. This First Amendment may be executed in several counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement. 

(e) Governing Law. This First Amendment shall for all purposes be construed in accordance with, and governed by, the laws of the
Commonwealth of Massachusetts. 

  
 7 

 (f) Conflict. If there shall be any conflict or inconsistency between the terms,
covenants and conditions of this First Amendment and those of the Original Sublease, then the terms, covenants and conditions of the First Amendment shall prevail. 
 (g) Entire Agreement; Amendments and Waivers. This First Amendment sets forth all of the covenants, promises, agreements, conditions, and undertakings, either oral or written, between Sublessor and
Sublessee. No amendment of any provision in this First Amendment shall be valid, unless in writing and signed by the parties hereto and consented to in writing by Prime Lessor. No failure or delay on the part of any party to exercise any rights
under this First Amendment shall operate or imply a waiver thereof, unless in a writing signed by the party to be charged. 

(h) Effective Date. The term “Effective Date” shall mean the later of the date upon which this First Amendment is
signed by Sublessor and Sublessee. The submission of this First Amendment by Sublessee to Sublessor for examination or consideration does not constitute an offer to amend the Original Sublease, and this First Amendment shall become effective only
upon the execution and delivery thereof by Sublessee and Sublessor, subject however, to the provisions of Section 9 and the Escrow Agreement. Sublessor and Sublessee each agrees that each will pay for their own attorney’s
fees in connection with the negotiation and execution of this First Amendment. 
 [Remainder of Page Blank; Signatures on
Following Page] 

  
 8 

 IN WITNESS WHEREOF, Sublessor and Sublessee have executed this First Amendment as a sealed
instrument in two (2) duplicate originals as of the Effective Date. 
  

			
	SUBLESSOR:
	
	ALNYLAM PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Michael Mason

	Name:	 	      Michael Mason

	Title:	 	      VP of Finance

	
	Date: November 4, 2011
	
	SUBLESSEE:
	
	SANOFI-AVENTIS U.S. INC.
		
	By:	 	 /s/ Mark R. Shaw

	Name:	 	      Mark R. Shaw

	Title:	 	      VP U.S. General Services

	
	Date: November 4, 2011

  
 92012 Long-Term Incentive Plan

 Exhibit 10.13 
 PROTO LABS, INC. 
 2012 LONG-TERM INCENTIVE PLAN 

1. Purpose. The purpose of the Proto Labs, Inc. 2012 Long-Term Incentive Plan (the “Plan”) is to help attract and retain the best
available people for positions of responsibility with the Company, to provide additional incentives to them and align their interests with those of the Company’s shareholders, and to thereby promote the Company’s long-term business
success. 
 2. Definitions. In this Plan, the following definitions will apply. 

(a) “Affiliate” means any entity that is a Subsidiary or Parent of the Company. 

(b) “Agreement” means the written or electronic agreement containing the terms and conditions applicable to an Award granted
under the Plan. An Agreement is subject to the terms and conditions of the Plan. 
 (c) “Award” means the grant of a
compensatory award under the Plan in the form of an Option, Stock Appreciation Rights, Restricted Stock, Stock Units, an Other Stock-Based Award or a Cash Incentive Award. 
 (d) “Board” means the Board of Directors of the Company. 
 (e)
“Cash Incentive Award” means an Award described in Section 11 of the Plan. 
 (f) “Cause” means what
the term is expressly defined to mean in a then-effective written agreement (including an Agreement) between a Participant and the Company or any Affiliate or, in the absence of any such then-effective agreement or definition, means a
Participant’s (i) failure or refusal to perform satisfactorily the duties reasonably required of the Participant by the Company (other than by reason of Disability); (ii) material violation of any law, rule, regulation, court order or
regulatory directive (other than traffic violations, misdemeanors or other minor offenses); (iii) material breach of any Company code of conduct, of any agreement with the Company or any Affiliate or of any nondisclosure, non-solicitation,
non-competition or similar obligation owed to the Company or any Affiliate; (iv) engaging in any act or practice that involves personal dishonesty on the part of the Participant or demonstrates a willful and continuing disregard for the best
interests of the Company and its Affiliates; or (v) engaging in conduct that would be reasonably expected to harm or bring disrepute to the Company, any of its Affiliates, or any of their customers, employees or vendors. 

(g) “Change in Control” means one of the following: 
 (1) An Exchange Act Person becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company representing more than 50% of the combined voting power of
the Company’s then outstanding Voting Securities, except that the following will not constitute a Change in Control: 

(A) any acquisition of securities of the Company by an Exchange Act Person directly or indirectly from the Company for the purpose of
providing financing to the Company; 
 (B) any formation of a Group consisting solely of beneficial owners of the
Company’s Voting Securities as of the effective date of this Plan; or 

 (C) any Exchange Act Person becomes the beneficial owner of more than 50% of the combined
voting power of the Company’s outstanding Voting Securities as the result of any repurchase or other acquisition by the Company of its Voting Securities. 
 If, however, an Exchange Act Person or Group referenced in clause (A), (B) or (C) above acquires beneficial ownership of additional Company Voting Securities after initially becoming the
beneficial owner of more than 50% of the combined voting power of the Company’s outstanding Voting Securities by one of the means described in those clauses, then a Change in Control shall be deemed to have occurred. 

(2) Individuals who are Continuing Directors cease for any reason to constitute a majority of the members of the Board. 

(3) The consummation of a Corporate Transaction unless, immediately following such Corporate Transaction, all or substantially all of the
individuals and entities who were the beneficial owners of the outstanding Company Voting Securities immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the then
outstanding Voting Securities of the of the surviving or acquiring entity (or its Parent) resulting from such Corporate Transaction in substantially the same proportions as their ownership, immediately before such Corporate Transaction, of the
outstanding Company Voting Securities. 
 Notwithstanding the foregoing, to the extent that any Award constitutes a deferral of compensation
subject to Code Section 409A, and if that Award provides for a change in the time or form of payment upon a Change in Control, then no Change in Control shall be deemed to have occurred upon an event described in Section 2(g) unless the
event would also constitute a change in ownership or effective control of, or a change in the ownership of a substantial portion of the assets of, the Company under Code Section 409A. 

(h) “Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, and the regulations promulgated
thereunder. 
 (i) “Committee” means two or more Non-Employee Directors designated by the Board to administer the Plan
under Section 3, each member of which shall (i) satisfy the independence requirements for independent directors and members of compensation committees as set forth from time to time in the Listing Rules of the Nasdaq Stock Market,
(ii) be a non-employee director within the meaning of Exchange Act Rule 16b-3, and (iii) be an outside director for purposes of Code Section 162(m). 
 (j) “Company” means Proto Labs, Inc., a Minnesota corporation, or any successor thereto. 
 (k) “Continuing Director” means an individual (A) who is, as of the effective date of the Plan, a director of the Company, or (B) who is elected as a director of the Company subsequent
to the effective date of the Plan and whose initial election, or nomination for initial election by the Company’s shareholders, was approved by at least a majority of the then Continuing Directors, but excluding, for purposes of this clause
(B), any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest. 

  
 2 

 (l) “Corporate Transaction” means a reorganization, merger, consolidation or
statutory share exchange involving the Company, or a sale or other disposition (in one or a series of transactions) of all or substantially all of the assets of the Company. 
 (m) “Disability” means “total and permanent disability” within the meaning of Code Section 22(e)(3). 
 (n) “Employee” means an employee of the Company or an Affiliate. 
 (o)
“Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time. 
 (p)
“Exchange Act Person” means any natural person, entity or Group other than (i) the Company or any Subsidiary of the Company; (ii) any employee benefit plan (or related trust) sponsored or maintained by the Company or any
Affiliate; or (iii) an underwriter temporarily holding securities in connection with a registered public offering of such securities. 
 (q) “Fair Market Value” means the fair market value of a Share determined as follows: 
 (1) If the Shares are readily tradable on an established securities market (as determined under Code Section 409A), then Fair Market Value will be the closing sales price for a Share on the principal
securities market on which it trades on the date for which it is being determined, or if no sale of Shares occurred on that date, on the next preceding date on which a sale of Shares occurred, as reported in The Wall Street Journal or such
other source as the Committee deems reliable; or 
 (2) If the Shares are not then readily tradable on an established securities
market (as determined under Code Section 409A), then Fair Market Value will be determined by the Committee as the result of a reasonable application of a reasonable valuation method that satisfies the requirements of Code Section 409A.

 (r) “Full Value Award” means an Award other than an Option Award, Stock Appreciation Rights Award or Cash Incentive
Award. 
 (s) “Grant Date” means the date on which the Committee approves the grant of an Award under the Plan, or
such later date as may be specified by the Committee on the date the Committee approves the Award. 
 (t) “Group”
means two or more persons acting as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of an entity. 
 (u) “Non-Employee Director” means a member of the Board who is not an Employee. 
 (v) “Option” means a right granted under the Plan to purchase a specified number of Shares at a specified price during a specified period of time. An “Incentive Stock Option” or
“ISO” means any Option designated as such and granted in accordance with the requirements of Code Section 422. A “Non-Statutory Stock Option” means an Option other than an Incentive Stock Option. 

(w) “Other Stock-Based Award” means an Award described in Section 11 of this Plan. 

(x) “Parent” means a “parent corporation,” as defined in Code Section 424(e). 

  
 3 

 (y) “Participant” means a person to whom an Award is or has been made in
accordance with the Plan. 
 (z) “Performance-Based Compensation” means an Award to a person who is, or is determined
by the Committee to likely become, a “covered employee” (as defined in Code Section 162(m)(3)) and that is intended to constitute “performance-based compensation” within the meaning of Code Section 162(m)(4)(C).

 (aa) “Plan” means this Proto Labs, Inc. 2012 Long-Term Incentive Plan, as amended and in effect from time to time.

 (bb) “Prior Plan” means the ProtoMold Company, Inc. 2000 Stock Option Plan. 

(cc) “Restricted Stock” means Shares issued to a Participant that are subject to such restrictions on transfer, vesting
conditions and other restrictions or limitations as may be set forth in this Plan and the applicable Agreement. 
 (dd)
“Service” means the provision of services by a Participant to the Company or any Affiliate in any Service Provider capacity. A Service Provider’s Service shall be deemed to have terminated either upon an actual cessation of providing
services or upon the entity for which the Service Provider provides services ceasing to be an Affiliate. Except as otherwise provided in this Plan or any Agreement, Service shall not be deemed terminated in the case of (i) any approved leave of
absence; (ii) transfers among the Company and any Affiliates in any Service Provider capacity; or (iii) any change in status so long as the individual remains in the service of the Company or any Affiliate in any Service Provider capacity.

 (ee) “Service Provider” means an Employee, a Non-Employee Director, or any consultant or advisor who is a natural
person and who provides services (other than in connection with (i) a capital-raising transaction or (ii) promoting or maintaining a market in Company securities) to the Company or any Affiliate. 

(ff) “Share” means a share of Stock. 
 (gg) “Stock” means the common stock, par value $0.001 per share, of the Company. 
 (hh) “Stock Appreciation Right” or “SAR” means a right granted under the Plan to receive, in cash and/or Shares as determined by the Committee, an amount equal to the appreciation in
value of a specified number of Shares between the Grant Date of the SAR and its exercise date. 
 (ii) “Stock Unit”
means a right granted under the Plan to receive, in cash and/or Shares as determined by the Committee, the Fair Market Value of a Share, subject to such restrictions on transfer, vesting conditions and other restrictions or limitations as may be set
forth in this Plan and the applicable Agreement. 
 (jj) “Subsidiary” means a “subsidiary corporation,” as
defined in Code Section 424(f), of the Company. 
 (kk) “Substitute Award” means an Award granted upon the
assumption of, or in substitution or exchange for, outstanding awards granted by a company or other entity acquired by the Company or any Affiliate or with which the Company or any Affiliate combines. 

  
 4 

 (ll) “Voting Securities” of an entity means the outstanding securities entitled to
vote generally in the election of directors (or comparable equity interests) of such entity. 
 3. Administration of the Plan.

 (a) Administration. The authority to control and manage the operations and administration of the Plan shall be
vested in the Committee in accordance with this Section 3. Notwithstanding the foregoing sentence, the Board shall perform the duties and have the responsibilities of the Committee with respect to Awards made to Non-Employee Directors.

 (b) Scope of Authority. Subject to the terms of the Plan, the Committee shall have the authority, in its discretion,
to take such actions as it deems necessary or advisable to administer the Plan, including: 
 (1) determining the Service
Providers to whom Awards will be granted, the timing of each such Award, the types of Awards and the number of Shares or amount of cash covered by each Award, the terms, conditions, performance criteria, restrictions and other provisions of Awards,
and the manner in which Awards are paid or settled; 
 (2) cancelling or suspending an Award or the exercisability of an Award,
accelerating the vesting or extending the exercise period of an Award, or otherwise amending the terms and conditions of any outstanding Award, subject to the requirements of Sections 15(d) and 15(e); 

(3) establishing, amending or rescinding rules to administer the Plan, interpreting the Plan and any Award or Agreement made under the
Plan, and making all other determinations necessary or desirable for the administration of the Plan; and 
 (4) taking such
actions as are described in Section 3(c) with respect to Awards to foreign Service Providers. 
 (c) Awards to Foreign
Service Providers. The Committee may grant Awards to Service Providers who are foreign nationals, who are located outside of the United States or who are not compensated from a payroll maintained in the United States, or who are otherwise
subject to (or could cause the Company to be subject to) legal or regulatory requirements of countries outside of the United States, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be
necessary or desirable to comply with applicable foreign laws and regulatory requirements and to promote achievement of the purposes of the Plan. In connection therewith, the Committee may establish such subplans and modify exercise procedures and
other Plan rules and procedures to the extent such actions are deemed necessary or desirable, and may take any other action that it deems advisable to obtain local regulatory approvals or to comply with any necessary local governmental regulatory
exemptions. 
 (d) Acts of the Committee; Delegation. A majority of the members of the Committee shall constitute a
quorum for any meeting of the Committee, and any act of a majority of the members present at any meeting at which a quorum is present or any act unanimously approved in writing by all members of the Committee shall be the act of the Committee. Any
such action of the Committee shall be valid and effective even if the members of the Committee at the time of such action are later determined not to have satisfied all of the criteria for membership in clauses (i), (ii) and (iii) of
Section 2(i). To the extent not inconsistent with applicable law or stock exchange rules, the Committee may delegate all or any 

  
 5 

 
portion of its authority under the Plan to any one or more of its members or, as to Awards to Participants who are not subject to Section 16 of the Exchange Act, to one or more executive
officers of the Company. The Committee may also delegate non-discretionary administrative responsibilities in connection with the Plan to such other persons as it deems advisable. 

(e) Finality of Decisions. The Committee’s interpretation of the Plan and of any Award or Agreement made under the Plan and
all related decisions or resolutions of the Board or Committee shall be final and binding on all parties with an interest therein. 
 (f) Indemnification. Each person who is or has been a member of the Committee or of the Board, and any other person to whom the Committee delegates authority under the Plan, shall be indemnified by
the Company, to the maximum extent permitted by law, against liabilities and expenses imposed upon or reasonably incurred by such person in connection with or resulting from any claims against such person by reason of the performance of the
individual’s duties under the Plan. This right to indemnification is conditioned upon such person providing the Company an opportunity, at the Company’s expense, to handle and defend the claims before such person undertakes to handle and
defend them on such person’s own behalf. The Company will not be required to indemnify any person for any amount paid in settlement of a claim unless the Company has first consented in writing to the settlement. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to which such person or persons may be entitled under the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise. 

4. Shares Available Under the Plan. 
 (a) Maximum Shares Available. Subject to Sections 4(b) and 4(c) and to adjustment as provided in Section 12(a), the number of Shares that may be the subject of Awards and issued under the Plan
shall be 3,500,000, plus any Shares remaining available for future grants under the Prior Plan on the effective date of this Plan. After the effective date of the Plan, no additional awards may be granted under the Prior Plan. Shares to be issued
under the Plan shall be authorized and unissued Shares. In determining the number of Shares to be counted against this share reserve in connection with any Award, the following rules shall apply: 

(1) Where the number of Shares subject to an Award is variable on the Grant Date, the number of Shares to be counted against the share
reserve prior to the settlement of the Award shall be the maximum number of Shares that could be received under that particular Award. 
 (2) Where two or more types of Awards are granted to a Participant in tandem with each other, such that the exercise of one type of Award with respect to a number of Shares cancels at least an equal
number of Shares of the other, the number of Shares to be counted against the share reserve shall be the largest number of Shares that would be counted against the share reserve under either of the Awards. 

(3) Substitute Awards shall not be counted against the share reserve, nor shall they reduce the Shares authorized for grant to a
Participant in any calendar year. 
 (b) Automatic Share Reserve Increase. The share reserve specified in
Section 4(a) will be increased on January 1 of each year commencing in 2012 and ending on (and including) January 1, 2021 in an amount equal to the lesser of: (i) 3% of the total number of Shares outstanding as of
December 31 of the immediately preceding calendar year or (ii) such number of Shares determined by the Board. 

  
 6 

 (c) Effect of Forfeitures and Other Actions. Any Shares subject to an Award,
or to an award granted under the Prior Plan that is outstanding on the effective date of this Plan (a “Prior Plan Award”), that is forfeited or expires or is settled for cash shall, to the extent of such forfeiture, expiration or cash
settlement, again become available for Awards under this Plan, and correspondingly increase the total number of Shares available for grant and issuance under Section 4(a). The following Shares shall not, however, again become available for
Awards or increase the number of Shares available for grant under Section 4(a): (i) Shares tendered by the Participant or withheld by the Company in payment of the purchase price of a stock option issued under this Plan or the Prior Plan,
(ii) Shares tendered by the Participant or withheld by the Company to satisfy any tax withholding obligation with respect to an Award or Prior Plan Award, (iii) Shares repurchased by the Company with proceeds received from the exercise of
an option issued under this Plan or the Prior Plan, and (iv) Shares subject to a stock appreciation right issued under this Plan or the Prior Plan that are not issued in connection with the stock settlement of that stock appreciation right upon
its exercise. 
 (d) Effect of Plans Operated by Acquired Companies. If a company acquired by the Company or any
Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to
the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of
common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan. Awards using such available shares shall not be made after the date
awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees or Non-Employee Directors prior to such acquisition or combination.

 (e) No Fractional Shares. Unless otherwise determined by the Committee, the number of Shares subject to an Award shall
always be a whole number. No fractional Shares may be issued under the Plan, and in connection with any calculation under the Plan that would otherwise result in the issuance or withholding of a fractional Share, the number of Shares shall be
rounded down to the nearest whole Share. 
 (f) Individual Option and SAR Limit. The aggregate number of Shares subject
to Options and/or Stock Appreciation Rights granted during any calendar year to any one Participant shall not exceed 700,000 Shares. 
 5.
Eligibility. Participation in the Plan is limited to Service Providers. Incentive Stock Options may only be granted to Employees.  
 6. General Terms of Awards. 
 (a) Award Agreement. Except for
any Award that involves only the immediate issuance of unrestricted Shares, each Award shall be evidenced by an Agreement setting forth the number of Shares subject to the Award together with such other terms and conditions applicable to the Award
(and not inconsistent with the Plan) as determined by the Committee. An Award will not become effective unless acceptance of the Agreement in a manner permitted by the Committee is received by the Company within 30 days of the date the Agreement is
delivered to the Participant. An Award to a Participant may be made singly or in combination with any form of Award. Two types of Awards may be made in tandem with each other such that the exercise of one type of Award with respect to a number of
Shares reduces the number of Shares subject to the related Award by at least an equal amount. 

  
 7 

 (b) Vesting and Term. Each Agreement shall set forth the period until the applicable
Award is scheduled to expire (which shall not be more than ten years from the Grant Date), and any applicable performance period. The Committee may provide in an Agreement for such vesting conditions as it may determine. 

(c) Transferability. Except as provided in this Section 6(c), (i) during the lifetime of a Participant, only the
Participant or the Participant’s guardian or legal representative may exercise an Option or SAR, or receive payment with respect to any other Award; and (ii) no Award may be sold, assigned, transferred, exchanged or encumbered other than
by will or the laws of descent and distribution. Any attempted transfer in violation of this Section 6(c) shall be of no effect. The Committee may, however, provide in an Agreement or otherwise that an Award (other than an Incentive Stock
Option) may be transferred pursuant to a qualified domestic relations order or may be transferable by gift to any “family member” (as defined in General Instruction A(5) to Form S-8 under the Securities Act of 1933) of the Participant. Any
Award held by a transferee shall continue to be subject to the same terms and conditions that were applicable to that Award immediately before the transfer thereof. For purposes of any provision of the Plan relating to notice to a Participant or to
acceleration or termination of an Award upon the death or termination of employment of a Participant, the references to “Participant” shall mean the original grantee of an Award and not any transferee. 

(d) Designation of Beneficiary. The Committee may permit each Participant to designate a beneficiary or beneficiaries to exercise
any Award or receive a payment under any Award payable on or after the Participant’s death. Any such designation shall be on a written or electronic form approved by the Committee and shall be effective upon its receipt by the Company or an
agent selected by the Company. 
 (e) Termination of Service. Unless otherwise provided in an Agreement, and subject to
Sections 6(i) and 12 of this Plan, if a Participant’s Service with the Company and all of its Affiliates terminates, the following provisions shall apply (in all cases subject to the originally scheduled expiration of an Option or Stock
Appreciation Right, as applicable): 
 (1) Upon termination of Service for Cause, all unexercised Options and SARs and all
unvested portions of any other outstanding Awards shall be immediately forfeited without consideration. 
 (2) Upon termination
of Service due to death or Disability, any unvested portion of an Award shall immediately become vested (and exercisable, if applicable), and the vested and exercisable portions of Options or SARs may be exercised for a period of twelve months after
the date of such termination and shall terminate upon the expiration of such period. 
 (3) Upon a termination of Service for
any reason other than Cause, death or Disability, all unvested and unexercisable portions of any outstanding Awards shall be immediately forfeited without consideration, but the currently vested and exercisable portions of Options and SARs may be
exercised for a period of three months after the date of such termination and shall, subject to the following sentence, terminate upon the expiration of such period. However, if a Participant dies during such three-month post-termination exercise
period, then the applicable post-termination exercise period shall be extended to twelve months after the date of such termination. 
 (f) Rights as Shareholder. No Participant shall have any rights as a shareholder with respect to any Shares covered by an Award unless and until the date the Participant becomes the holder of
record of the Shares, if any, to which the Award relates. 

  
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 (g) Performance-Based Awards. Any Award may be granted as a performance-based Award
if the Committee establishes one or more measures of corporate, Subsidiary, business unit or individual performance which must be attained, and the performance period over which the specified performance is to be attained, as a condition to the
vesting, exercisability, lapse of restrictions and/or settlement in cash or Shares of such Award. In connection with any such Award, the Committee shall determine the extent to which performance measures have been attained and other applicable terms
and conditions have been satisfied, and the degree to which vesting, exercisability, lapse of restrictions and/or settlement in cash or Shares of such Award has been earned. Any performance-based Award that is intended by the Committee to qualify as
Performance-Based Compensation shall additionally be subject to the requirements of Section 17 of this Plan. Except as provided in Section 17 with respect to Performance-Based Compensation, the Committee shall also have the authority to
provide, in an Agreement or otherwise, for the modification of a performance period and/or an adjustment or waiver of the achievement of performance goals upon the occurrence of certain events, which may include a Change of Control, a Corporate
Transaction, a recapitalization, a change in the accounting practices of the Company, or the Participant’s death or Disability. 
 (h) Dividends and Dividend Equivalents. Any dividends or distributions paid with respect to Shares that are subject to the unvested portion of a Restricted Stock Award will be subject to the same
restrictions as the Shares to which such dividends or distributions relate, except for regular cash dividends on Shares subject to the unvested portion of a Restricted Stock Award. In its discretion, the Committee may provide in an Agreement for a
Stock Unit Award or an Other Stock-Based Award that the Participant will be entitled to receive dividend equivalents on the units or other Share equivalents subject to the Award based on dividends actually declared on outstanding Shares. The terms
of any dividend equivalents will be as set forth in the applicable Award Agreement, including the time and form of payment and whether such dividend equivalents will be credited with interest or deemed to be reinvested in additional units or Share
equivalents. The Committee may, in its discretion, provide in Award Agreements for restrictions on dividends and dividend equivalents in addition to those specified in this Section 6(h). 

(i) Extension of Termination Date. If a Participant would otherwise be precluded from exercising an Option or SAR prior to the
expiration of its scheduled term or prior to its termination following the termination of the Participant’s Service solely because the issuance of the Shares upon such exercise would violate applicable registration requirements under the
Securities Act, then the Committee may provide that the period during which the Option or SAR may be exercised and the termination date of the Option or SAR shall be extended until the date that is 30 days after the exercise of the Option or SAR
would no longer violate the registration requirements of the Securities Act. 
 7. Stock Option Awards.  

(a) Type and Exercise Price. The Agreement pursuant to which an Option is granted shall specify whether the Option is an
Incentive Stock Option or a Non-Statutory Stock Option. The exercise price at which each Share subject to an Option may be purchased shall be determined by the Committee and set forth in the Agreement, and shall not be less than the Fair Market
Value of a Share on the Grant Date, except in the case of Substitute Awards (to the extent consistent with Code Section 409A).  
 (b) Payment of Exercise Price. The purchase price of the Shares with respect to which an Option is exercised shall be payable in full at the time of exercise. The purchase price may be paid in cash
or in such other manner as the Committee may permit, including payment under a broker-assisted sale and remittance program acceptable to the Committee or by withholding Shares otherwise issuable to the Participant upon exercise of the Option or by
delivery to the Company of Shares (by actual delivery or attestation) already owned by the Participant (in each case, such Shares having a Fair Market Value as of the date the Option is exercised equal to the purchase price of the Shares being
purchased). 

  
 9 

 (c) Exercisability and Expiration. Each Option shall be exercisable in whole or in
part on the terms provided in the Agreement. No Option shall be exercisable at any time after its scheduled expiration. When an Option is no longer exercisable, it shall be deemed to have terminated. 

(d) Incentive Stock Options. 
 (1) An Option will constitute an Incentive Stock Option only if the Participant receiving the Option is an Employee, and only to the extent that (i) it is so designated in the applicable Agreement
and (ii) the aggregate Fair Market Value (determined as of the Option’s Grant Date) of the Shares with respect to which Incentive Stock Options held by the Participant first become exercisable in any calendar year (under the Plan and all
other plans of the Company and its Affiliates) does not exceed $100,000. To the extent an Option granted to a Participant exceeds this limit, the Option shall be treated as a Non-Statutory Stock Option. The maximum number of Shares that may be
issued upon the exercise of Incentive Stock Options shall equal the maximum number of Shares that may be the subject of Awards and issued under the Plan as provided in the first sentence of Section 4(a). 

(2) No Participant may receive an Incentive Stock Option under the Plan if, immediately after the grant of such Award, the Participant
would own (after application of the rules contained in Code Section 424(d)) Shares possessing more than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, unless (i) the option price for that
Incentive Stock Option is at least 110% of the Fair Market Value of the Shares subject to that Incentive Stock Option on the Grant Date and (ii) that Option will expire no later than five years after its Grant Date. 

(3) For purposes of continued Service by a Participant who has been granted an Incentive Stock Option, no approved leave of absence may
exceed three months unless reemployment upon expiration of such leave is provided by statute or contract. If reemployment is not so provided, then on the date six months following the first day of such leave, any Incentive Stock Option held by the
Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Non-Statutory Stock Option. 
 (4) If an Incentive Stock Option is exercised after the expiration of the exercise periods that apply for purposes of Code Section 422, such Option shall thereafter be treated as a Non-Statutory
Stock Option. 
 (5) The Agreement covering an Incentive Stock Option shall contain such other terms and provisions that the
Committee determines necessary to qualify the Option as an Incentive Stock Option. 
 8. Stock Appreciation Rights. 

(a) Nature of Award. An Award of Stock Appreciation Rights shall be subject to such terms and conditions as are determined by the
Committee, and shall provide a Participant the right to receive upon exercise of the SAR all or a portion of the excess of (i) the Fair Market Value as of the date of exercise of the SAR of the number of Shares as to which the SAR is being
exercised, over (ii) the aggregate exercise price for such number of Shares. The per Share exercise price for any SAR Award shall be determined by the Committee and set forth in the applicable Agreement, and shall not be less than the Fair
Market Value of a Share on the Grant Date, except in the case of Substitute Awards (to the extent consistent with Code Section 409A). 

  
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 (b) Exercise of SAR. Each SAR may be exercisable in whole or in part at the
times, on the terms and in the manner provided in the Agreement. No SAR shall be exercisable at any time after its scheduled expiration. When a SAR is no longer exercisable, it shall be deemed to have terminated. Upon exercise of a SAR, payment to
the Participant shall be made at such time or times as shall be provided in the Agreement in the form of cash, Shares or a combination of cash and Shares as determined by the Committee. The Agreement may provide for a limitation upon the amount or
percentage of the total appreciation on which payment (whether in cash and/or Shares) may be made in the event of the exercise of a SAR.  
 9. Restricted Stock Awards. 
 (a) Vesting and Consideration.
Shares subject to a Restricted Stock Award shall be subject to vesting conditions, and the corresponding lapse of forfeiture conditions and other restrictions, based on such factors and occurring over such period of time as the Committee may
determine in its discretion. The Committee may provide whether any consideration other than Services must be received by the Company or any Affiliate as a condition precedent to the grant of a Restricted Stock Award, and may correspondingly provide
for Company reacquisition or repurchase rights if such additional consideration has been required and some or all of a Restricted Stock Award does not vest. 
 (b) Shares Subject to Restricted Stock Awards. Unvested Shares subject to a Restricted Stock Award shall be evidenced by a book-entry in the name of the Participant with the Company’s transfer
agent or by one or more Stock certificates issued in the name of the Participant. Any such Stock certificate shall be deposited with the Company or its designee, together with an assignment separate from the certificate, in blank, signed by the
Participant, and bear an appropriate legend referring to the restricted nature of the Restricted Stock evidenced thereby. Any book-entry shall be subject to transfer restrictions and accompanied by a similar legend. Upon the vesting of Shares of
Restricted Stock and the corresponding lapse of the restrictions and forfeiture conditions, the corresponding transfer restrictions and restrictive legend will be removed from the book-entry evidencing such Shares or the certificate evidencing such
Shares, and any such certificate shall be delivered to the Participant. Such vested Shares may, however, remain subject to additional restrictions as provided in Section 18(c). Except as otherwise provided in the Plan or an applicable
Agreement, a Participant with a Restricted Stock Award shall have all the rights of a shareholder, including the right to vote the Shares of Restricted Stock. 
 10. Stock Unit Awards. 
 (a) Vesting and Consideration. A
Stock Unit Award shall be subject to vesting conditions, and the corresponding lapse of forfeiture conditions and other restrictions, based on such factors and occurring over such period of time as the Committee may determine in its discretion. The
Committee may provide whether any consideration other than Services must be received by the Company or any Affiliate as a condition precedent to the settlement of a Stock Unit Award. 

(b) Payment of Award. Following the vesting of a Stock Unit Award, settlement of the Award and payment to the Participant shall be
made at such time or times in the form of cash, Shares (which may themselves be considered Restricted Stock under the Plan subject to restrictions on transfer and forfeiture conditions) or a combination of cash and Shares as determined by the
Committee. If the Stock Unit Award is not by its terms exempt from the requirements of Code Section 409A, then the applicable Agreement shall contain terms and conditions intended to avoid adverse tax consequences specified in Code
Section 409A. 

  
 11 

 11. Cash-Based and Other Stock-Based Awards. 

(a) Cash Incentive Awards. A Cash Incentive Award shall be considered a performance-based Award for purposes of, and subject to,
Section 6(g), the payment of which shall be contingent upon the degree to which one or more specified performance goals have been achieved over the specified performance period. Cash Incentive Awards may be granted to any Participant in such
amounts and upon such terms and at such times as shall be determined by the Committee, and may be denominated in units that have a dollar value established by the Committee as of the Grant Date. Following the completion of the applicable performance
period and the vesting of a Cash Incentive Award, payment of the settlement amount of the Award to the Participant shall be made at such time or times in the form of cash, Shares or other forms of Awards under the Plan (valued for these purposes at
their grant date fair value) or a combination of cash, Shares and other forms of Awards as determined by the Committee and specified in the applicable Agreement. If a Cash Incentive Award is not by its terms exempt from the requirements of Code
Section 409A, then the applicable Agreement shall contain terms and conditions intended to avoid adverse tax consequences specified in Code Section 409A. 
 (b) Other Stock-Based Awards. The Committee may from time to time grant Stock and other Awards that are valued by reference to and/or payable in whole or in part in Shares under the Plan. The
Committee, in its sole discretion, shall determine the terms and conditions of such Awards, which shall be consistent with the terms and purposes of the Plan. The Committee may, in its sole discretion, direct the Company to issue Shares subject to
restrictive legends and/or stop transfer instructions that are consistent with the terms and conditions of the Award to which the Shares relate. 
 12. Changes in Capitalization and Other Corporate Events. 

(a) Adjustments for Changes in Capitalization. In the event of any equity restructuring (within the meaning of FASB ASC
Topic 718 - Stock Compensation) that causes the per share value of Shares to change, such as a stock dividend, stock split, spinoff, rights offering or recapitalization through an extraordinary dividend, the Committee shall make
such adjustments as it deems equitable and appropriate to (i) the aggregate number and kind of Shares or other securities issued or reserved for issuance under the Plan, (ii) the number and kind of Shares or other securities subject to
outstanding Awards, (iii) the exercise price of outstanding Options and SARs, and (iv) any maximum limitations prescribed by the Plan with respect to certain types of Awards or the grants to individuals of certain types of Awards. In the
event of any other change in corporate capitalization, including a merger, consolidation, reorganization, or partial or complete liquidation of the Company, such equitable adjustments described in the foregoing sentence may be made as determined to
be appropriate and equitable by the Committee to prevent dilution or enlargement of rights of Participants. In either case, any such adjustment shall be conclusive and binding for all purposes of the Plan. No adjustment shall be made
pursuant to this Section 12(a) in connection with the conversion of any convertible securities of the Company, or in a manner that would cause Incentive Stock Options to violate Section 422(b) of the Code or cause an Award to be
subject to adverse tax consequences under Section 409A of the Code.  
 (b) Corporate Transactions.
Unless otherwise provided in an applicable Agreement, in the event of a Change in Control that involves a Corporate Transaction, the Board or the Committee shall take one or more of the following actions with respect to outstanding Awards, which
actions may vary among individual Participants and among Awards held by an individual Participant, and are conditioned in each case upon the closing or completion of the Corporate Transaction: 

(1) Continuation, Assumption or Replacement of Awards. Arrange for the surviving or successor entity (or its Parent) to
continue, assume or replace Awards outstanding as of the date of the Corporate Transaction, with such Awards or replacements therefor to remain outstanding and be governed by their respective terms. For purposes of this Section 12(b)(1), an
Award shall be considered assumed or replaced if, in connection with the Corporate Transaction and in a manner consistent with Code Sections 409A and 424, either (i) the contractual obligations represented by the Award are expressly assumed by
the surviving or successor entity (or its Parent) with appropriate adjustments to the number and type of securities subject to the Award and the exercise price thereof that preserves the intrinsic value of the Award existing at the time of the
Corporate Transaction, or (ii) the Participant has received a comparable award that preserves the intrinsic value of the Award existing at the time of the Corporate Transaction and is subject to substantially similar terms and conditions as the
Award. 

  
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 (2) Acceleration. Accelerate the vesting (and exercisability, if applicable)
of (i) some or all outstanding Options and SARs so that such Awards may be exercised in full for such limited period of time prior to the effective time of the Corporate Transaction as is deemed fair and equitable by the Board or Committee,
with such Awards then terminating to the extent not exercised at the effective time of the Corporate Transaction, and (ii) some or all outstanding Full Value Awards or Cash Incentive Awards immediately prior to the effective time of the
Corporate Transaction. In the case of performance-based Awards, the number of Shares or the amount of a Cash Incentive Award subject to such accelerated vesting shall be based on a determination by the Board or Committee of the degree to which any
performance-based vesting or payment conditions will be deemed satisfied. The Board or Committee shall provide written notice of the period of accelerated exercisability of Options and SARs to all affected Participants, and any exercise of such
accelerated Awards shall be effective only immediately before the effective time of the Corporate Transaction. 
 (3)
Payment for Awards. Cancel some or all outstanding Awards at or immediately prior to the effective time of the Corporate Transaction in exchange for payments to the holders as provided in this Section 12(b)(3). The payment for any
Award canceled shall be in an amount equal to the difference, if any, between (i) the fair market value (as determined in good faith by the Board or Committee) of the consideration that would otherwise be received in the Corporate Transaction
for the number of Shares remaining subject to the Award, and (ii) the aggregate exercise price (if any) for the number of Shares remaining subject to such Award. If the amount determined pursuant to clause (i) of the preceding sentence is
less than or equal to the amount determined pursuant to clause (ii) of the preceding sentence with respect to any Award, such Award may be canceled without payment of any kind to the affected Participant. The payment for any canceled Cash
Incentive Award that was to be settled in Shares shall be in an amount equal to the settlement amount that was to form the basis for the calculation of the number of Shares to be issued. In the case of performance-based Awards, the number of Shares
remaining subject to an Award or the settlement amount of a Cash Incentive Award shall be calculated based on a determination by the Board or Committee of the degree to which any performance-based vesting or payment conditions will be deemed
satisfied. Payment of any amount under this Section 12(b)(3) shall be made in such form (including in shares of the surviving or successor entity or its Parent), on such terms and subject to such conditions as the Board or Committee determines
in its discretion, which may or may not be the same as the form, terms and conditions applicable to payments to the Company’s shareholders in connection with the Corporate Transaction, and may, in the discretion of the Board or Committee,
include subjecting such payments to vesting conditions comparable to those of the Award canceled, subjecting such payments to escrow or holdback terms comparable to those imposed upon the Company’s shareholders under the Corporate Transaction,
or calculating and paying the present value of payments that would otherwise be subject to escrow or holdback terms. 

  
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 (4) Termination After a Corporate Transaction. Provide that with respect to
any Award that is continued, assumed or replaced under the circumstances described in Section 12(b)(1), if within 18 months after the Corporate Transaction the Participant experiences an involuntary termination of Service from the surviving or
successor entity (or its Parent or subsidiary) for reasons other than Cause, then (i) outstanding Options and SARs issued to the Participant that are not yet fully exercisable shall immediately become exercisable in full and shall remain
exercisable for one year following the Participant’s termination of Service, and (ii) any Full Value Awards that are not yet fully vested shall immediately vest in full. 

(5) Adjustments to Awards. Make such adjustments to some or all outstanding Awards as may be required or permitted by
Sections 12(a) and 6(g). 
 (c) Change in Control. In connection with a Change in Control that does not involve a
Corporate Transaction, the Board or Committee may provide (in the applicable Agreement or otherwise) for one or more of the following: (i) that any Award shall become fully vested (and exercisable, if applicable) upon the occurrence of the
Change in Control or upon the involuntary termination of the Participant without Cause within 18 months of the Change in Control, (ii) that any Option or SAR shall remain exercisable during all or some specified portion of its remaining term,
or (iii) that Awards shall be canceled in exchange for payments in a manner similar to that provided in Section 12(b)(3). The Committee will not be required to treat all Awards similarly in such circumstances.  

(d) Dissolution or Liquidation. Unless otherwise provided in an applicable Agreement, in the event the shareholders of the Company
approve the complete dissolution or liquidation of the Company, all outstanding Awards shall vest and become fully exercisable, and will terminate immediately prior to the consummation of any such proposed action. The Committee will notify each
Participant as soon as practicable of such accelerated vesting and exercisability and pending termination. 
 (e) Limitation
on Change in Control Payments. If any payments to a Participant pursuant to Awards made under this Plan (including, for this purpose, the acceleration of the vesting and exercisability of any Award or the payment of cash or other property in
exchange for all or part of any Award), taken together with any payments or benefits otherwise paid or distributed to the Participant by the Company or any corporation that is a member of an “affiliated group” (as defined in
Section 1504 of the Code without regard to Section 1504(b) of the Code) of which the Company is a member (the “other arrangements”) would collectively constitute a “parachute payment” (as defined in
Section 280G(b)(2) of the Code), and if the net after-tax amount of such parachute payment to the Participant is less than what the net after-tax amount to the Participant would be if the aggregate payments and benefits otherwise constituting
the parachute payment were limited to three times the Participant’s “base amount” (as defined in Section 280G(b)(3) of the Code) less $1.00, then the aggregate payments and benefits otherwise constituting the parachute payment
shall be reduced to an amount that shall equal three times the Participant’s base amount, less $1.00. Should such a reduction in payments and benefits be required, the Participant shall be entitled, subject to the following sentence, to
designate those payments and benefits under this Plan or the other arrangements that will be reduced or eliminated (including, as applicable, a reduction in the number of Shares subject to Awards that will vest on an accelerated basis) so as to
achieve the specified reduction in aggregate payments and benefits to the Participant and avoid characterization of such aggregate payments and benefits as a parachute payment. To the extent that the Participant’s ability to make such a
designation would cause any of the payments and benefits to become subject to any additional tax under Code Section 409A, or if the Participant fails to make such a designation within the time prescribed by the Committee, then the Committee
shall achieve the necessary reduction in such payments and benefits by first reducing or eliminating the portion of the payments and benefits that are payable in cash and then by reducing or eliminating the non-cash portion of the

  
 14 

 
payments and benefits, in each case in reverse order beginning with payments and benefits which are to be paid or provided the furthest in time from the date of the Committee’s
determination. For purposes of this Section 12(e), a net after-tax amount shall be determined by taking into account all applicable income, excise and employment taxes, whether imposed at the federal, state or local level, including the excise
tax imposed under Section 4999 of the Code. 
 13. Plan Participation and Service Provider Status. Status as a Service
Provider shall not be construed as a commitment that any Award will be made under the Plan to that Service Provider or to eligible Service Providers generally. Nothing in the Plan or in any Agreement or related documents shall confer upon any
Service Provider or Participant any right to continued Service with the Company or any Affiliate, nor shall it interfere with or limit in any way any right of the Company or any Affiliate to terminate the person’s Service at any time with or
without Cause or change such person’s compensation, other benefits, job responsibilities or title. 
 14. Tax
Withholding. The Company or any Affiliate, as applicable, shall have the right to (i) withhold from any cash payment under the Plan or any other compensation owed to a Participant an amount sufficient to cover any required withholding
taxes related to the grant, vesting, exercise or settlement of an Award, and (ii) require a Participant or other person receiving Shares under the Plan to pay a cash amount sufficient to cover any required withholding taxes before actual
receipt of those Shares. In lieu of all or any part of a cash payment from a person receiving Shares under the Plan, the Committee may permit the individual to cover all or any part of the required withholdings (up to the Participant’s minimum
required tax withholding rate) through a reduction in the number of Shares delivered or a delivery or tender to the Company of Shares held by the Participant or other person, in each case valued in the same manner as used in computing the
withholding taxes under applicable laws. 
 15. Effective Date, Duration, Amendment and Termination of the Plan. 

(a) Effective Date. The Plan shall become effective on the date it is approved by the Company’s shareholders, which shall be
considered the date of its adoption for purposes of Treasury Regulation §1.422-2(b)(2)(i). No Awards shall be made under the Plan prior to its effective date. If the Company’s shareholders fail to approve the Plan within 12 months of its
approval by the Board, the Plan shall be of no further force or effect. 
 (b) Duration of the Plan. The Plan shall
remain in effect until all Shares subject to it shall be distributed, the Plan is terminated pursuant to Section 15(c), or the tenth anniversary of the effective date of the Plan, whichever occurs first (the “Termination Date”).
Awards made before the Termination Date shall continue to be outstanding in accordance with their terms unless limited in the applicable Agreements. 
 (c) Amendment and Termination of the Plan. The Board may at any time terminate, suspend or amend the Plan. The Company shall submit any amendment of the Plan to its shareholders for approval only
to the extent required by applicable laws or regulations or the rules of any securities exchange on which the Shares may then be listed. No termination, suspension, or amendment of the Plan may materially impair the rights of any Participant under a
previously granted Award without the Participant’s consent, unless such action is necessary to comply with applicable law or stock exchange rules. 
 (d) Amendment of Awards. Subject to Section 15(e), the Committee may unilaterally amend the terms of any Agreement previously granted, except that no such amendment may materially impair the
rights of any Participant under the applicable Award without the Participant’s consent, unless such amendment is necessary to comply with applicable law or stock exchange rules or any compensation recovery policy as provided in
Section 18(i)(2). 

  
 15 

 (e) No Option or SAR Repricing. Except as provided in Section 12(a), no Option
or Stock Appreciation Right granted under the Plan may be amended to decrease the exercise price thereof, be cancelled in exchange for the grant of any new Option or Stock Appreciation Right with a lower exercise price or any new Full Value Award,
be repurchased by the Company or any Affiliate, or otherwise be subject to any action that would be treated under accounting rules or otherwise as a “repricing” of such Option or Stock Appreciation Right, unless such action is first
approved by the Company’s shareholders. 
 16. Substitute Awards. The Committee may also grant Awards under the Plan in
substitution for, or in connection with the assumption of, existing awards granted or issued by another corporation and assumed or otherwise agreed to be provided for by the Company pursuant to or by reason of a transaction involving a merger,
consolidation, acquisition of property or stock, separation, reorganization or liquidation to which the Company or an Affiliate is a party. The terms and conditions of the Substitute Awards may vary from the terms and conditions set forth in the
Plan to the extent that the Committee at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions of the awards in substitution for which they are granted. 

17. Performance-Based Compensation. 
 (a) Designation of Awards. If the Committee determines at the time a Full Value Award or a Cash Incentive Award is granted to a Participant that such Participant is, or is likely to be, a
“covered employee” for purposes of Code Section 162(m) as of the end of the tax year in which the Company would ordinarily claim a tax deduction in connection with such Award, then the Committee may provide that this Section 17
will be applicable to such Award, which shall be considered Performance-Based Compensation. 
 (b) Compliance with Code
Section 162(m). If an Award is subject to this Section 17, then the lapsing of restrictions thereon and the distribution of cash, Shares or other property pursuant thereto, as applicable, shall be subject to the achievement over the
applicable performance period of one or more performance goals based on one or more of the performance measures specified in Section 17(d). The Committee will select the applicable performance measure(s) and specify the performance goal(s)
based on those performance measures for any performance period, specify in terms of an objective formula or standard the method for calculating the amount payable to a Participant if the performance goal(s) are satisfied, and certify the degree to
which applicable performance goals have been satisfied and any amount payable in connection with an Award subject to this Section 17, all within the time periods prescribed by and consistent with the other requirements of Code
Section 162(m). In specifying the performance goals applicable to any performance period, the Committee may provide that one or more objectively determinable adjustments shall be made to the performance measures on which the performance goals
are based, which may include adjustments that would cause such measures to be considered “non-GAAP financial measures” within the meaning of Rule 101 under Regulation G promulgated by the Securities and Exchange Commission. The Committee
may also adjust performance measures for a performance period to the extent permitted by Code Section 162(m) in connection with an event described in Section 12(a) to prevent the dilution or enlargement of a Participant’s rights with
respect to Performance-Based Compensation. The Committee may adjust downward, but not upward, any amount determined to be otherwise payable in connection with such an Award. The Committee may also provide, in an Agreement or otherwise, that the
achievement of specified performance goals in connection with an Award subject to this Section 17 may be waived upon the death or Disability of the 

  
 16 

 
Participant or under any other circumstance with respect to which the existence of such possible waiver will not cause the Award to fail to qualify as “performance-based compensation”
under Code Section 162(m). 
 (c) Limitations. With respect to Awards of Performance-Based Compensation, the maximum
number of Shares that may be the subject of any Full Value Awards that are denominated in Shares or Share equivalents and that are granted to any one Participant during any calendar year shall not exceed 280,000 Shares (subject to adjustment as
provided in Section 12(a)). The maximum amount payable with respect to any Cash Incentive Awards and Full Value Awards that are denominated other than in Shares or Share equivalents and that are granted to any one Participant during any
calendar year shall not exceed $5,000,000 multiplied by the number of full or partial years in the applicable performance period. 
 (d) Performance Measures. For purposes of any Full Value Award considered Performance-Based Compensation subject to this Section 17, the performance measures to be utilized shall be limited to
one or a combination of two or more of the following: revenue or net sales; gross profit; operating profit; net income; earnings before income taxes; earnings before one or more of interest, taxes, depreciation, amortization and other adjustments;
profitability as measured by return ratios (including, but not limited to, return on assets, return on equity, return on investment and return on revenues or gross profit) or by the degree to which any of the foregoing earnings measures exceed a
percentage of revenues or gross profit; cash flow; market share; margins (including one or more of gross, operating and net earnings margins); stock price; total stockholder return; asset quality; non-performing assets; operating assets; operating
expenses; balance of cash, cash equivalents and marketable securities; improvement in or attainment of expense levels or cost savings; inventory levels; inventory or operating asset turnover; accounts receivable levels (including measured in terms
of days sales outstanding); economic value added; improvement in or attainment of working capital levels; employee retention; customer satisfaction; and implementation or completion of critical projects; and growth in customer base. Any performance
goal based on one or more of the foregoing performance measures may, in the Committee’s discretion, be expressed in absolute amounts, on a per share basis (basic or diluted), relative to one or more other performance measures, as a growth rate
or change from preceding periods, or as a comparison to the performance of specified companies or a published or special index (including stock market indices) or other external measures, and may relate to one or any combination of Company,
Affiliate or business unit performance. 
 18. Other Provisions. 

(a) Unfunded Plan. The Plan shall be unfunded and the Company shall not be required to segregate any assets that may at any time
be represented by Awards under the Plan. Neither the Company, its Affiliates, the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan nor shall anything contained in the Plan or any action taken pursuant
to its provisions create or be construed to create a fiduciary relationship between the Company and/or its Affiliates, and a Participant. To the extent any person has or acquires a right to receive a payment in connection with an Award under the
Plan, this right shall be no greater than the right of an unsecured general creditor of the Company. 

  
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 (b) Limits of Liability. Except as may be required by law, neither the Company nor
any member of the Board or of the Committee, nor any other person participating (including participation pursuant to a delegation of authority under Section 3(c) of the Plan) in any determination of any question under the Plan, or in the
interpretation, administration or application of the Plan, shall have any liability to any party for any action taken, or not taken, in good faith under the Plan. 
 (c) Compliance with Applicable Legal Requirements. No Shares distributable pursuant to the Plan shall be issued and delivered unless the issuance of the Shares complies with all applicable legal
requirements, including compliance with the provisions of applicable state and federal securities laws, and the requirements of any securities exchanges on which the Company’s Shares may, at the time, be listed. The Committee may, in its
discretion, suspend the right to exercise Options or SARs to be settled in Shares, or delay the payment or settlement of any other Awards to be paid or settled in Shares, during any period in which the issuance of such Shares would not be in
compliance with any applicable legal or securities exchange requirements. During any period in which the offering and issuance of Shares under the Plan are not registered under federal or state securities laws, Participants shall acknowledge that
they are acquiring Shares under the Plan for investment purposes and not for resale, and that Shares may not be transferred except pursuant to an effective registration statement under, or an exemption from the registration requirements of, such
securities laws. Any book-entry or stock certificate evidencing Shares issued under the Plan that are subject to such securities law restrictions shall be accompanied by or bear an appropriate restrictive legend. 

(d) Other Benefit and Compensation Programs. Payments and other benefits received by a Participant under an Award made pursuant to
the Plan shall not be deemed a part of a Participant’s regular, recurring compensation for purposes of the termination, indemnity or severance pay laws of any country or state and shall not be included in, nor have any effect on, the
determination of benefits under any other employee benefit plan, contract or similar arrangement provided by the Company or an Affiliate unless expressly so provided by such other plan, contract or arrangement, or unless the Committee expressly
determines that an Award or portion of an Award should be included to accurately reflect competitive compensation practices or to recognize that an Award has been made in lieu of a portion of competitive cash compensation. 

(e) Governing Law. To the extent that federal laws do not otherwise control, the Plan and all determinations made and actions
taken pursuant to the Plan shall be governed by the laws of the State of Minnesota without regard to its conflicts-of-law principles and shall be construed accordingly. 
 (f) Severability. If any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be
construed and enforced as if the illegal or invalid provision had not been included. 
 (g) Code Section 409A. It is
intended that (i) all Awards of Options, SARs and Restricted Stock under the Plan will not provide for the deferral of compensation within the meaning of Code Section 409A and thereby be exempt from Code Section 409A, and
(ii) all other Awards under the Plan will either not provide for the deferral of compensation within the meaning of Code Section 409A, or will comply with the requirements of Code Section 409A, and the Committee shall endeavor to
structure Awards and administer and interpret the Plan in accordance with this intent. The Plan and any Agreement may be unilaterally amended by the Company in any manner deemed necessary or advisable by the Committee or Board in order to maintain
such exemption from or compliance with Code Section 409A, and any such amendment shall conclusively be presumed to be necessary to comply with applicable law. Notwithstanding anything to the contrary in the Plan or any Agreement, with respect
to any Award that constitutes a deferral of compensation subject to Code Section 409A: 
 (1) If any amount is payable
under such Award upon a termination of Service, a termination of Service will be deemed to have occurred only at such time as the Participant has experienced a “separation from service” as such term is defined for purposes of Code
Section 409A; and 

  
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 (2) If any amount shall be payable with respect to any such Award as a result of a
Participant’s “separation from service” at such time as the Participant is a “specified employee” within the meaning of Code Section 409A, then no payment shall be made, except as permitted under Code Section 409A,
prior to the first business day after the earlier of (i) the date that is six months after the Participant’s separation from Service or (ii) the Participant’s death. Unless the Committee has adopted a specified employee
identification policy as contemplated by Code Section 409A, specified employees will be identified in accordance with the default provisions specified under Code Section 409A. 
 Neither the Company, the Committee or any other person involved with the administration of this Plan shall in any way be responsible for ensuring the exemption of any Award from, or compliance by any
Award with, the requirements of Code Section 409A. By accepting an Award under this Plan, each Participant acknowledges that the Company has no duty or obligation to design or administer the Plan or Awards granted thereunder in a manner that
minimizes a Participant’s tax liabilities, including the avoidance of any additional tax liabilities under Code Section 409A. 
 (h) Rule 16b-3. It is intended that the Plan and all Awards granted pursuant to it shall be administered by the Committee so as to permit the Plan and Awards to comply with Exchange Act Rule 16b-3.
If any provision of the Plan or of any Award would otherwise frustrate or conflict with the intent expressed in this Section 18(h), that provision to the extent possible shall be interpreted and deemed amended in the manner determined by the
Committee so as to avoid the conflict. To the extent of any remaining irreconcilable conflict with this intent, the provision shall be deemed void as applied to Participants subject to Section 16 of the Exchange Act to the extent permitted by
law and in the manner deemed advisable by the Committee. 
 (i) Forfeiture and Compensation Recovery. 

(1) The Committee may specify in an Agreement that the Participant's rights, payments, and benefits with respect to an Award will be
subject to reduction, cancellation, forfeiture or recovery by the Company upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include termination of
Service for Cause, violation of any material Company or Affiliate policy, breach of noncompetition, non-solicitation or confidentiality provisions that apply to the Participant, a determination that the payment of the Award was based on an incorrect
determination that financial or other criteria were met or other conduct by the Participant that is detrimental to the business or reputation of the Company or its Affiliates. 
 (2) Awards and any compensation associated therewith may be made subject to forfeiture, recovery by the Company or other action pursuant to any compensation recovery policy adopted by the Board or the
Committee at any time, including in response to the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder, or as otherwise required by law. Any Agreement may be unilaterally amended by the
Committee to comply with any such compensation recovery policy. 

  
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