Document:

EX-10.2

 EXHIBIT 10.2 

Option No.         

PIERIS PHARMACEUTICALS, INC. 

Stock Option Grant Notice 

Stock Option Grant under the Company’s 

2014 Employee, Director and Consultant Equity Incentive Plan 
  

					
	1.	    	Name and Address of Participant:	  	  

		    		  	  

		    		  	  

			
	2.	    	Date of Option Grant:	  	  

			
	3.	    	Type of Grant:	  	  

			
	4.	    	 Maximum Number of Shares for
 which this Option
is exercisable:
	  	  

			
	5.	    	Exercise (purchase) price per share:	  	  

			
	6.	    	Option Expiration Date:	  	  

			
	7.	    	Vesting Start Date:	  	  

		
	8.	    	Vesting Schedule: This Option shall become exercisable (and the Shares issued upon exercise shall be vested) as follows provided the Participant is an Employee, director or Consultant of the Company or of an Affiliate on
the applicable vesting date:

 [Insert Vesting Schedule] 

Notwithstanding the foregoing, unless otherwise approved by the Administrator in its sole discretion, the Option shall only be exercised
from and after the date the Company has filed a Form S-8 registration statement with the U.S. Securities and Exchange Commission covering the Shares authorized under the Plan and if this Option is exercised in whole or in part prior to
June     , 2015 the Shares issued upon such exercise shall not be transferred or sold until after such date unless otherwise approved by the Administrator in its sole discretion. 

The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement and the Plan. 

The Company and the Participant acknowledge receipt of this Stock Option Grant Notice and agree to the terms of the Stock Option Agreement attached hereto and
incorporated by reference herein, the Company’s 2014 Employee, Director and Consultant Equity Incentive Plan and the terms of this Option Grant as set forth above. 

 

					
	PIERIS PHARMACEUTICALS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	  

	Participant

 PIERIS PHARMACEUTICALS, INC. 

STOCK OPTION AGREEMENT - INCORPORATED TERMS AND CONDITIONS 

AGREEMENT made as of the date of grant set forth in the Stock Option Grant Notice by and between Pieris Pharmaceuticals, Inc. (the
“Company”), a Nevada corporation, and the individual whose name appears on the Stock Option Grant Notice (the “Participant”). 

WHEREAS, the Company desires to grant to the Participant an Option to purchase shares of its common stock, $0.001 par value per share (the
“Shares”), under and for the purposes set forth in the Company’s 2014 Employee, Director and Consultant Equity Incentive Plan (the “Plan”); 

WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the same meanings as in the
Plan; and 
 WHEREAS, the Company and the Participant each intend that the Option granted herein shall be of the type set forth in the Stock
Option Grant Notice. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable
consideration, the parties hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The Company hereby grants to the Participant the right and option to
purchase all or any part of an aggregate of the number of Shares set forth in the Stock Option Grant Notice, on the terms and conditions and subject to all the limitations set forth herein, under United States securities and tax laws, and in the
Plan, which is incorporated herein by reference. The Participant acknowledges receipt of a copy of the Plan. 
  

	 	2.	EXERCISE PRICE. 

 The exercise price of the Shares covered by the Option shall be the
amount per Share set forth in the Stock Option Grant Notice, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares after the date hereof (the “Exercise
Price”). Payment shall be made in accordance with Paragraph 9 of the Plan. 
  

	 	3.	EXERCISABILITY OF OPTION. 

 Subject to the terms and conditions set forth in this
Agreement and the Plan, the Option granted hereby shall become vested and exercisable as set forth in the Stock Option Grant Notice and is subject to the other terms and conditions of this Agreement and the Plan. 

	 	4.	TERM OF OPTION. 

 This Option shall terminate on the Option Expiration Date as specified
in the Stock Option Grant Notice and, if this Option is designated in the Stock Option Grant Notice as an ISO and the Participant owns as of the date hereof more than 10% of the total combined voting power of all classes of capital stock of the
Company or an Affiliate, such date may not be more than five years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 

If the Participant ceases to be an Employee, director or Consultant of the Company or of an Affiliate for any reason other than the death or
Disability of the Participant, or termination of the Participant for Cause (the “Termination Date”), the Option to the extent then vested and exercisable pursuant to Section 3 hereof as of the Termination Date, and not previously
terminated in accordance with this Agreement, may be exercised within three months after the Termination Date, or on or prior to the Option Expiration Date as specified in the Stock Option Grant Notice, whichever is earlier, but may not be exercised
thereafter except as set forth below. In such event, the unvested portion of the Option shall not be exercisable and shall expire and be cancelled on the Termination Date. 

If this Option is designated in the Stock Option Grant Notice as an ISO and the Participant ceases to be an Employee of the Company or of an
Affiliate but continues after termination of employment to provide service to the Company or an Affiliate as a director or Consultant, this Option shall continue to vest in accordance with Section 3 above as if this Option had not terminated
until the Participant is no longer providing services to the Company. In such case, this Option shall automatically convert and be deemed a Non-Qualified Option as of the date that is three months from termination of the Participant’s
employment and this Option shall continue on the same terms and conditions set forth herein until such Participant is no longer providing service to the Company or an Affiliate. 

Notwithstanding the foregoing, in the event of the Participant’s Disability or death within three months after the Termination Date, the
Participant or the Participant’s Survivors may exercise the Option within one year after the Termination Date, but in no event after the Option Expiration Date as specified in the Stock Option Grant Notice. 

In the event the Participant’s service is terminated by the Company or an Affiliate for Cause, the Participant’s right to exercise
any unexercised portion of this Option even if vested shall cease immediately as of the time the Participant is notified his or her service is terminated for Cause, and this Option shall thereupon terminate. Notwithstanding anything herein to the
contrary, if subsequent to the Participant’s termination, but prior to the exercise of the Option, the Administrator determines that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which
would constitute Cause, then the Participant shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate. 

  
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 In the event of the Disability of the Participant, as determined in accordance with the Plan, the
Option shall be exercisable within one year after the Participant’s termination of service due to Disability or, if earlier, on or prior to the Option Expiration Date as specified in the Stock Option Grant Notice. In such event, the Option
shall be exercisable: 
  

	 	(a)	to the extent that the Option has become exercisable but has not been exercised as of the date of the Participant’s termination of service due to Disability; and 

 

	 	(b)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of the Participant’s termination of service due to Disability of any additional vesting rights
that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant’s termination of service
due to Disability. 

 In the event of the death of the Participant while an Employee, director or Consultant of the Company or
of an Affiliate, the Option shall be exercisable by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, on or prior to the Option Expiration Date as specified in the Stock Option Grant Notice.
In such event, the Option shall be exercisable: 
  

	 	(x)	to the extent that the Option has become exercisable but has not been exercised as of the date of death; and 

  

	 	(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the
Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s date of death. 

  

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the
Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto (or in such other form acceptable to the Company, which may include electronic notice). Such notice shall
state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to the Company). Payment of the Exercise
Price for such Shares shall be made in accordance with Paragraph 9 of the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares
until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been
so exercised shall be registered in the Company’s share register in the name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant shall so request in the notice exercising the
Option, shall be registered in the 

  
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Company’s share register in the name of the Participant and another person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the
person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than the Participant, such notice shall be accompanied by appropriate proof of the right of such person to exercise the
Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable. 
  

	 	6.	PARTIAL EXERCISE. 

 Exercise of this Option to the extent above stated may be made in
part at any time and from time to time within the above limits, except that no fractional share shall be issued pursuant to this Option. 
  

	 	7.	NON-ASSIGNABILITY. 

 The Option shall not be
transferable by the Participant otherwise than by will or by the laws of descent and distribution. If this Option is a Non-Qualified Option then it may also be transferred pursuant to a qualified domestic relations order as defined by the Code or
Title I of the Employee Retirement Income Security Act or the rules thereunder. Except as provided above in this paragraph, the Option shall be exercisable, during the Participant’s lifetime, only by the Participant (or, in the event of legal
incapacity or incompetency, by the Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar
process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the
Option shall be null and void. 
  

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Participant shall have no rights as a
stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Participant. Except as is expressly provided in the Plan with respect to certain changes in the
capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration. 
  

	 	9.	ADJUSTMENTS. 

 The Plan contains provisions covering the treatment of Options in a number
of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of the Company are hereby made applicable
hereunder and are incorporated herein by reference. 

  
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	 	10.	TAXES. 

 The Participant acknowledges that any income or other taxes due from him or her
with respect to this Option or the Shares issuable pursuant to this Option shall be the Participant’s responsibility. The Participant acknowledges and agrees that (i) the Participant was free to use professional advisors of his or her
choice in connection with this Agreement, has received advice from his or her professional advisors in connection with this Agreement, understands its meaning and import, and is entering into this Agreement freely and without coercion or duress;
(ii) the Participant has not received and is not relying upon any advice, representations or assurances made by or on behalf of the Company or any Affiliate or any employee of or counsel to the Company or any Affiliate regarding any tax or
other effects or implications of the Option, the Shares or other matters contemplated by this Agreement; and (iii) neither the Administrator, the Company, its Affiliates, nor any of its officers or directors, shall be held liable for any
applicable costs, taxes, or penalties associated with the Option if, in fact, the Internal Revenue Service were to determine that the Option constitutes deferred compensation under Section 409A of the Code. 

If this Option is designated in the Stock Option Grant Notice as a Non-Qualified Option or if the Option is an ISO and is converted into a
Non-Qualified Option and such Non-Qualified Option is exercised, the Participant agrees that the Company may withhold from the Participant’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes
attributable to such amount that is considered compensation includable in such person’s gross income. At the Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the
Shares otherwise deliverable to the Participant on exercise of the Option. The Participant further agrees that, if the Company does not withhold an amount from the Participant’s remuneration sufficient to satisfy the Company’s income tax
withholding obligation, the Participant will reimburse the Company on demand, in cash, for the amount under-withheld. 
  

	 	11.	PURCHASE FOR INVESTMENT. 

 Unless the offering and sale of the Shares to be issued upon
the particular exercise of the Option shall have been effectively registered under the Securities Act, the Company shall be under no obligation to issue the Shares covered by such exercise unless the Company has determined that such exercise and
issuance would be exempt from the registration requirements of the Securities Act and until the following conditions have been fulfilled: 
  

	 	(a)	The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to,
or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend which shall be endorsed upon any certificate(s) evidencing the Shares
issued pursuant to such exercise: 

 “The shares represented by this certificate have been taken for investment and they
may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the
Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and 

  
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 (b) If the Company so requires, the Company shall have received an opinion of its counsel that
the Shares may be issued upon such particular exercise in compliance with the Securities Act without registration thereunder. Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any
action or obtaining of any consent, which the Company deems necessary under any applicable law (including without limitation state securities or “blue sky” laws). 
  

	 	12.	RESTRICTIONS ON TRANSFER OF SHARES. 

 12.1 The Participant agrees that in the event the
Company proposes to offer for sale to the public any of its equity securities and such Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or
other transfer of Shares, then it will promptly sign such agreement and will not transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by
him or her during such period as is determined by the Company and the underwriters, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the
National Association of Securities Dealers, Inc. or similar rules thereto (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and
pursuant to customary and prevailing terms and conditions. Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject
to the foregoing restrictions until the end of the Lock-Up Period. 
 12.2 The Participant acknowledges and agrees that neither the Company,
its stockholders nor its directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a
termination of the service of the Participant by the Company, including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or
entity. 

  
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	 	13.	NO OBLIGATION TO MAINTAIN RELATIONSHIP. 

 The Participant acknowledges that: (i) the
Company is not by the Plan or this Option obligated to continue the Participant as an employee, director or Consultant of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be suspended or terminated by the Company at
any time; (iii) the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (iv) all determinations with respect to any such future
grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the
Company; (v) the Participant’s participation in the Plan is voluntary; (vi) the value of the Option is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if
any; and (vii) the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar
payments. 
  

	 	14.	IF OPTION IS INTENDED TO BE AN ISO. 

 If this Option is designated in the Stock Option
Grant Notice as an ISO so that the Participant (or the Participant’s Survivors) may qualify for the favorable tax treatment provided to holders of Options that meet the standards of Section 422 of the Code then any provision of this
Agreement or the Plan which conflicts with the Code so that this Option would not be deemed an ISO is null and void and any ambiguities shall be resolved so that the Option qualifies as an ISO. The Participant should consult with the
Participant’s own tax advisors regarding the tax effects of the Option and the requirements necessary to obtain favorable tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. 

Notwithstanding the foregoing, to the extent that the Option is designated in the Stock Option Grant Notice as an ISO and is not deemed to be
an ISO pursuant to Section 422(d) of the Code because the aggregate Fair Market Value (determined as of the Date of Option Grant) of any of the Shares with respect to which this ISO is granted becomes exercisable for the first time during any
calendar year in excess of $100,000, the portion of the Option representing such excess value shall be treated as a Non-Qualified Option and the Participant shall be deemed to have taxable income measured by the difference between the then Fair
Market Value of the Shares received upon exercise and the price paid for such Shares pursuant to this Agreement. 
 Neither the Company nor
any Affiliate shall have any liability to the Participant, or any other party, if the Option (or any part thereof) that is intended to be an ISO is not an ISO or for any action taken by the Administrator, including without limitation the conversion
of an ISO to a Non-Qualified Option. 
  

	 	15.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION OF AN ISO. 

 If this Option is designated
in the Stock Option Grant Notice as an ISO then the Participant agrees to notify the Company in writing immediately after the Participant makes a 

  
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Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the ISO. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition
(including any sale) of such Shares before the later of (a) two years after the date the Participant was granted the ISO or (b) one year after the date the Participant acquired Shares by exercising the ISO, except as otherwise provided in
Section 424(c) of the Code. If the Participant has died before the Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 

 

	 	16.	NOTICES. 

 Any notices required or permitted by the terms of this Agreement or the Plan
shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 
 If to the Company:

 Pieris Pharmaceuticals, Inc. 

Lise-Meitner-Strasse 30 
 85354
Freising-Weihenstephan 
 Germany 

Telephone No.: +49 (0) 8161 14 11 400 l

Facsimile No.: +49 (0) 8161 14 11 444 

Attention: Chief Executive Officer 
 If to the
Participant, at the address set forth on the Stock Option Grant Notice. 
 or to such other address or addresses of which notice in the same manner has
previously been given. Any such notice shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

 

	 	17.	GOVERNING LAW. 

 This Agreement shall be governed by and construed in accordance with the
laws of Nevada, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction in Nevada and agree that such
litigation shall be conducted in the state courts of Nevada or the federal courts of the United States for the District of Nevada. 
  

	 	18.	BENEFIT OF AGREEMENT. 

 Subject to the provisions of the Plan and the other provisions
hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 

  
 8 

	 	19.	ENTIRE AGREEMENT. 

 This Agreement, together with the Plan, embodies the entire agreement
and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or
agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however, in any event, this Agreement shall be subject to and governed by the
Plan. 

  
 9 

	 	20.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be
modified or amended as provided in the Plan. 
  

	 	21.	WAIVERS AND CONSENTS. 

 Except as provided in the Plan, the terms and provisions of this
Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a
waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent. 
  

	 	22.	DATA PRIVACY. 

 By entering into this Agreement, the Participant: (i) authorizes the
Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such
Affiliate shall request in order to facilitate the grant of options and the administration of the Plan; and (ii) authorizes the Company and each Affiliate to store and transmit such information in electronic form for the purposes set forth in
this Agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 10 

 Exhibit A 

NOTICE OF EXERCISE OF STOCK OPTION 

[Form for Shares registered in the United States] 
  

	To:	Pieris Pharmaceuticals, Inc. 

 IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time
as the Company has filed a Registration Statement with the Securities and Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 

Ladies and Gentlemen: 
 I hereby exercise my
Stock Option to purchase                  shares (the “Shares”) of the common stock, $0.001 par value, of Pieris Pharmaceuticals, Inc. (the
“Company”), at the exercise price of $         per share, pursuant to and subject to the terms of that Stock Option Grant Notice dated
            , 201    . 
 I understand the nature of the
investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws affecting the
exercise of the Option and the purchase and subsequent sale of the Shares. 
 I am paying the option exercise price for the Shares as
follows: 
  
  

Please issue the Shares (check one): 

 ̈ to me; or 

 ̈ to me and
                            , as joint tenants with right of survivorship, 

at the following address: 

			
		 	  

		 	  

		 	  

  
 Exhibit A-1 

 My mailing address for stockholder communications, if different from the address listed above,
is: 

			
		 	  

		 	  

		 	  

  

	
	Very truly yours,
	
	  

	Participant (signature)
	
	  

	Print Name
	
	  

	Date

  
 Exhibit A-2EX-10.3

 EXHIBIT 10.3 

CONFIDENTIAL TREATMENT REQUESTED 

EXECUTION COPY 
 COLLABORATION
AGREEMENT 
 Between 

PIERIS AG 

And 
 ALLERGAN

 Effective as of 

August 21, 2009 

Portions of the exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and
Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 CONFIDENTIAL TREATMENT REQUESTED 

EXECUTION COPY 

THIS COLLABORATION AGREEMENT (“Agreement”) is entered into
on August 21, 2009 (the “Effective Date”) between 
 ALLERGAN SALES, LLC a
Delaware Limited Liability Company, having a place of business at 2525 Dupont Drive, Irvine, California 92612, ALLERGAN, INC., a Delaware Corporation having its principal place of business at 2525
Dupont Drive, Irvine, California 92612, and ALLERGAN PHARMACEUTICALS HOLDINGS (IRELAND) LTD., (“APHI”) an Irish company, having a registered address
at Longphort House, Earlsfort Centre, Lower Leeson Street, Dublin 2, Ireland (collectively, “Allergan”); and 

PIERIS AG, having a principal place of business at Lise Meitner Straße 30, 85354 Freising Weihenstephan
(“Pieris”) (Allergan and Pieris are referred to as the “Parties”). 
 PREAMBLE 

WHEREAS, Pieris is the owner of a proprietary technology relating to the discovery and development of Anticalins® (as defined below) and has developed
Anticalins® [***] (as defined below), 
 WHEREAS, Allergan is a multi-specialty healthcare company that discovers, develops, and commercializes
specialty pharmaceutical, medical device, and over-the-counter products for various markets with a long history of focus of the ophthalmic market worldwide and is interested in entering into a collaboration with Pieris in relation to the development
and commercialization of Anticalins® [***] in the Allergan Field (as defined below), 
 NOW AND THEREFORE, the Parties agree as follows. 

1. DEFINITIONS 
 1.1
“Affiliate” means any entity that controls, is controlled by, or is under common control with a Party. An entity “controls” another if it owns more than fifty percent (50%) of the outstanding voting securities of a
corporation or has a comparable equity interest in any other type of entity. 
 1.2 “[***]” means [***] Allergan has invented, developed,
or otherwise acquired rights to use, make, or sell. 
 1.3 “Allergan Field” means the treatment and prevention of conditions and diseases
of the eye or eye lids by local delivery of Compounds. “[***],” as used here, means [***]. 
 1.4 “Anticalin®” means any
protein derived from any Lipocalin by Pieris’ proprietary technology of selecting a target-binding Lipocalin mutein out of a randomized library as defined by the Pieris Patents. 

1.5 “Commercially Reasonable Efforts” means efforts and deployment of resources consistent with the exercise of reasonable and prudent
business judgment, used by Allergan for 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
 1 of 20 

 CONFIDENTIAL TREATMENT REQUESTED 

EXECUTION COPY 
  

 
any of its products that are of similar market potential at a similar stage in their product life, taking into account issues of safety and efficacy, product profile, the market potential, the
competitiveness of the marketplace, the proprietary position of the product, the regulatory and reimbursement structure involved, the cost of scaling up a manufacturing process (including facility costs), the profitability of the applicable
products, and any other relevant factors. 
 1.6 “Compound” means an Anticalin® or other protein that inhibits, partially or
completely, [***]. 
 1.7 “Confidential Information” means all information disclosed by one Party to another under this Agreement. 

1.8 “Cost of Goods” or “COGS” means fully-burdened Standard Costs of supplying Compounds calculated in accordance with
Pieris’s accounting methods consistently applied, which methodology will be calculated in compliance with local generally accepted accounting principles or International Financial Reporting Standards. Notwithstanding the above, COGS will not
include allocation of unabsorbed costs, including, for example, costs associated with less than full or complete utilization of Pieris’s facilities. 

1.9 “Data” means any and all data generated pursuant to this Agreement by the Parties, whether independently or jointly. 

1.10 “Development Compound” means a Lead Compound that the JDC has selected to advance into human clinical trials. [***] is a Development
Compound as of [***]. 
 1.11 “[***]” or “[***]” means [***]. 

1.12 “FDA” means the U.S. Food and Drug Administration, or any Regulatory Authority that is the successor thereto. 

1.13 “FTE” means the resources required to fund one full time research and/or development employee, with qualifications in the relevant
field, for approximately [***] scientific hours of effort per [***]. 
 1.14 “JDC” means the “Joint Discovery Committee”
described in Section 2. 
 1.15 “Know-How” means all scientific information reasonably relating to the research, development, manufacture,
delivery, commercialization, or any other use of the Compounds, Lead Compounds, Development Compounds, or Licensed Products relating to the Allergan Field. 

1.16 “Lead Compound” is a Compound that the JDC has designated for further evaluation in the Allergan Field. [***] is a Lead Compound as of
[***]. 
 1.17 “Licensed Product” means any Development Compound for which Allergan obtains the approval from a Regulatory Authority to
sell for use in the Allergan Field. 
 1.18 “Major Market Country” means [***]. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 1.19 “Modified Compound” means a Compound that Pieris modifies pursuant to Section 3.4.

 1.20 “Patent Right” means, with respect to any technology, (a) all patent applications heretofore or hereafter filed or having
legal force in any country to the extent and only to the extent they claim or cover such technology or the use thereof; (b) all patents that have issued or in the future issue from such applications referenced in (a) above, including
without limitation utility model and design patents and certificates of invention; and (c) all divisionals, continuations, continuations-in-part, reissues, reexaminations, renewals, extensions, supplementary protection certificates or additions
to any such patent applications and patents. 
 1.21 “Pieris Claims” mean those claims described in Section 10.3. 

1.22 “Pieris Field” means all fields other than the Allergan Field. 

1.23 “Pieris Patents” means a) the Patent Rights listed in Exhibit B; and b) any Patent Rights or other patent or patent application
that Pieris owns or (subject to Section 5.4) is able to license to Allergan in the Allergan Field to the extent and only to the extent it claims a Licensed Product, Lead Compound, Development Compound, Modified Compound, or Compound, or methods
of making, using, or delivering Licensed Products, Lead Compounds, Development Compounds, Modified Compounds, or Compounds. 
 1.24 “[***]”
and “[***]” are those Compounds [***] set forth in Exhibit C. 
 1.25 “Regulatory Authority” means an agency of any
government having the authority to regulate the sale, manufacture, marketing, testing and/or pricing of drugs. 
 1.26 “Research Plan” is
that document attached hereto as Exhibit A and as amended from time to time by the JDC. 
 1.27 The “Standard Costs” of an
item or service means the costs of raw materials, active pharmaceutical ingredient, components, labor, and overhead attributed to the production, processing, quality control, labeling, and packaging of the item or service. 

1.28 “[***]” means [***]. 

2. JOINT DISCOVERY COMMITTEE 

2.1 Within a reasonable period after the Effective Date, the Parties will establish a Joint Discovery Committee (“JDC”) comprising
[***] representatives of each Party. Each Party may at any time appoint different such representatives by written notice to the other Party. Additional representatives of a Party may attend meetings in a non-voting capacity. Each Party will
designate one of its representatives as a co-chair of the JDC. 
 2.2 The JDC will determine the strategy of the collaboration and manage research
conducted pursuant to it, in so far as the collaboration pertains to Compounds and Lead Compounds, including their design and selection. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 2.3 The JDC will hold meetings at such times and places as the co-chairs may determine, provided that,
unless the Parties agree otherwise, the Parties will meet in person at least once every [***] months, alternating between the research offices of each Party. All other meetings need not be in person and may be by telephone or any other method
determined by the JDC. Each Party will bear its own costs associated with attending meetings. 
 2.4 Decisions of the JDC [***] to be [***] it will
[***] and the [***] will be [***] provided that [***]. 
 2.5 The JDC will keep accurate meeting minutes of its deliberations and will finalize them
for release to the Parties within [***] days of each meeting. 
 2.6 The JDC will cease to function and conduct no further meetings [***] years after
the Effective Date, unless otherwise agreed by the JDC. 
 3. CONDUCT OF THE
COLLABORATION 
 3.1 The Parties will conduct the research described in the Research Plan (attached as Exhibit A) and as described
below. The JDC may amend the Research Plan at any time, but may not (i) impose on a Party an obligation that is inconsistent with this Agreement, without that Party’s consent, or (ii) amend the Research Plan in such a way that is
inconsistent with Commercially Reasonable Efforts without the unanimous consent of all JDC representatives. The JDC may not amend this Agreement. Where there is a conflict between the Research Plan and this Agreement, the provisions of this
Agreement will prevail. 
 3.2 The Parties will conduct all activities pursuant to this Agreement in compliance with all applicable good laboratory
practices, good manufacturing practices, and all laws. 
 Pieris Responsibilities 

3.3 Pieris will at its own expense 
  

	 	a)	Supply Allergan for evaluation purposes within the Allergan Field with i) [***]; and ii) [***] (provided that Pieris is not prohibited from supplying [***] under any agreement concluded with any third party); and

  

	 	b)	Disclose to Allergan [***]. 

 3.4 Pieris will modify [***] supplied pursuant to
Section 3.3 [***] as specified in the Research Plan or as otherwise agreed to by the JDC, in return for which Allergan will pay all costs and expenses of Pieris for performing such research at an FTE rate of US Dollars [***] $[***]) per year
and to reimburse to Pieris all third party costs incurred by Pieris in connection with any such research. Notwithstanding anything to the contrary in this Agreement (such as the provisions of Section 10.3), Allergan will have the exclusive
right to make, have made, use, sell, offer for sale, and import such [***] within the Allergan Field, and Pieris [***]. Before Pieris conducts any work pursuant to this section the JDC must approve it and the payment for it. Pieris will not be
obliged to provide more than [***] FTEs per [***] under this Section 3.4. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 3.5 On Allergan’s request, Pieris will use commercially reasonable efforts to provide to Allergan
any Compounds that the JDC designates as Lead Compounds or Development Compounds, in the quantities and having the characteristics specified in the Research Plan, or in the quantities and having the characteristics as otherwise agreed to by the JDC,
up to a maximum of [***] per Compound. Allergan will pay Pieris COGS [***] for all Compounds delivered to Allergan that Pieris has manufactured at its facilities. 

3.6 Pieris may meet its obligations under the previous section (Section 3.5) by contracting with a third party for the manufacture of Compounds. Should
Pieris do so, then (i) Allergan will pay Pieris the amount which Pieris owes to the third party in connection with the manufacture of the Compounds that Pieris supplies to Allergan (including any costs relating to any failed batch), and
(ii) Allergan’s rights and remedies, and Pieris’ liability, with respect to such Compounds will be limited to the rights and remedies that Pieris has towards the third party manufacturer under its agreement with such manufacturer.

 3.7 Pieris will not be obligated to carry out any [***] under the Research Plan or otherwise under this Agreement. For the avoidance of doubt, all
obligations of Pieris pursuant to this Section 3 will end [***] years from the Effective Date. 
 Allergan Responsibilities

 3.8 For a period of [***] after the Effective Date, Allergan will at its own expense: 

 

	 	a)	Evaluate Lead Compounds in in vitro test systems developed by Pieris and approved by the JDC; 

  

	 	b)	Develop analytical methods for evaluating Lead Compounds in in vivo test systems; and 

  

	 	c)	Perform such other obligations the Research Plan identifies. 

 3.9 In addition, Allergan will use
Commercially Reasonable Efforts to commercialize [***]. Except as otherwise stated in this Agreement or the Research Plan, Allergan will be responsible for performing, at its sole expense, all research and development activities necessary to fulfill
this obligation. 
 Lead Compound and Development Compound Selection 

3.10 The JDC will evaluate Compounds and may at any time designate one or more Compounds as Lead Compounds. 

3.11 The JDC will evaluate Lead Compounds, and may at any time designate one or more Lead Compounds as Development Compounds. 

3.12 Once the JDC designates a Lead Compound as a Development Compound, [***] in accordance with its obligations pursuant to[***]. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 3.13 For as long as [***], Allergan will provide to Pieris, up to [***] per [***] on Pieris’s
written request, a summary of the then-current development and commercialization status as well as significant events relating to the development and commercialization of Development Compounds. 

4. EXCLUSIVITY 
 4.1
During the term of this Agreement as well as for as long as Allergan [***], Pieris will not grant to any third party the right to make, use, sell, offer for sale, or import any Compound in the Allergan Field or transfer to a third party any Compound
for the purpose of making, using, selling, offering for sale the Compound in the Allergan Field. To the extent Pieris grants to any third party any right to commercialize any Compound outside of the Allergan Field, it will include in its Agreement
with the third party a specific prohibition against making, using, selling, offering for sale, and importing the Compound within the Allergan Field. mmm 

4.2 For the avoidance of doubt, Pieris may make, use, sell, offer for sale, and import any Compound in the Pieris Field, and may enter into any license
or other arrangement with any third party to make, use, sell, offer for sale, and import any Compound in the Pieris Field. 
 5.
LICENSE 
 5.1 Pieris grants to Allergan, solely in the Allergan Field, an exclusive license under the Pieris Patents and Pieris
Claims to make, have made, use, sell, offer for sale, and import Compounds, Lead Compounds, Development Compounds, Modified Compounds, and Licensed Products anywhere in the world. Such license will be exclusive even as to Pieris; Pieris may not
make, have made, use, sell, offer for sale, or import Compounds, Lead Compounds, Development Compounds, Modified Compounds, or Licensed Products in the Allergan Field, except that Pieris may make and use such Compounds to perform its obligations
under this Agreement. 
 5.2 Pieris grants to Allergan a non-exclusive license to use, for the purpose of researching, developing, making, having
made, and selling Compounds in the Allergan Field, any Know-How that Pieris discloses to Allergan. For the avoidance of doubt, any such Know-How may not be used by Allergan or any of its employees in the Pieris Field. 

5.3 Allergan may sublicense its rights under the preceding two sections (Sections 5.1 and 5.2) to any third party without Pieris’s consent,
provided that any such third party agrees in writing to be bound by the terms of this Agreement. No such sublicense will relieve Allergan of liability for its obligations to Pieris under this Agreement. 

5.4 In the event that a) Pieris licenses a Pieris Patent from a third party, and b) the license would require Pieris to [***] for Allergan’s
manufacture, use, sale, or importation of Compounds, Lead Compounds, Development Compounds, Modified Compounds, or Licensed Products, if Pieris were to grant to Allergan a sublicense for such manufacture, use, sale, or importation; then [***]. If
Allergan desires a sublicense, then [***] for Allergan’s manufacture, use, sale or importation of Compounds, Lead Compounds, Development Compounds, Modified Compounds, and Licensed Products; [***]. 

5.5 For the avoidance of doubt, Pieris has no rights to make, use, sell, offer for sale or otherwise exploit any [***], and Pieris may not prevent
Allergan from making, using, selling, offering for sale or otherwise exploiting any such [***] in any way that Allergan chooses. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 6. PAYMENT 

6.1 Allergan will pay to Pieris a non-refundable license and technology access fee of ten million dollars ($10,000,000) within [***] days of the
Effective Date. 
 6.2 Allergan will pay to Pieris [***] dollars [***] $[***] days of the date on which Allergan [***]. Allergan’s [***] will
not entitle Pieris to any additional payment under this section. In no event will Allergan pay to Pieris more than [***] dollars [***] $[***] under this section. 

6.3 In the event that [***], then Allergan will pay to Pieris [***] dollars [***] $[***] within [***] of a) [***]; or b) [***], whichever occurs later.
Only [***] – will entitle Pieris to a payment under this section. For example, if the [***] on [***] [***] dollars [***] $[***]) by [***] (the deadline being extended by one day under Section 14.11, as[***]is a Sunday). [***]. In no event
will Allergan pay to Pieris more than [***] dollars [***] $[***]) under this section. 
 6.4 Allergan will pay to Pieris [***] dollars [***] $[***])
within [***] days of the date on which Allergan [***], after [***]. Allergan’s [***] will not entitle Pieris to any additional payment under this section. In no event will Allergan pay to Pieris more than [***]dollars[***]$[***]) under this
section. 
 6.5 In the event that [***], then Allergan will pay to Pieris an [***] dollars ($[***]) within [***] days of a) [***]; or b) [***],
whichever occurs later. Only [***], will entitle Pieris to a payment under this section. For example, [***] on [***] and [***] on [***], then Allergan will pay to Pieris [***] dollars [***] $[***]) by [***]; if [***] on [***], then Allergan will pay
to Pieris [***] ($[***]) by [***]. [***]. [***] dollars [***] $ [***]. 
 6.6 The preceding five sections (Sections 6.1, 6.2, 6.3, 6.4, and 6.5) set
forth the entirety of Allergan’s monetary obligations to Pieris in connection with Allergan’s manufacture, use, or sale of Licensed Products; no additional amounts will be due for Allergan’s selling, offering for sale, manufacturing,
or importing of Licensed Products. In no event will Allergan pay to Pieris more than twenty three million dollars ($23,000,000) under those sections. 

6.7 All payments due under this Agreement are expressed in U.S. dollars. Allergan will pay Pieris by wire transfer to the bank and account it
designates in writing to Allergan. In the event that withholding taxes apply under the laws of any jurisdiction, Allergan will be entitled to withhold from any payment due to Pieris under this Agreement any taxes that Allergan is required to pay,
and such withholding will decrease by an equivalent amount the payment due to Pieris. Allergan will timely pay the amount of any taxes withheld to the proper governmental authority and provide Pieris with an official tax certificate or other
evidence of tax obligation, together with proof of payment from the relevant governmental authority sufficient to enable Pieris to evidence such payment of taxes. Allergan will reasonably cooperate with Pieris in its attempts to reduce or be
exempted from any taxes that Allergan withholds under this section. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 7. TERM 

7.1 This Agreement is effective as of the Effective Date and will continue until Allergan pays to Pieris twenty three million dollars ($23,000,000)
under Sections 6.1 to 6.5. Thereafter, Allergan will have a fully paid-up, irrevocable license to exercise the rights conferred in Section 5 without further obligation to Pieris, and this Agreement will expire. Sections 1, 4, 5, 7.6, 8.5 -
8.10, 9, 10, 11, 13 and 14 will survive any such expiration of this Agreement. 
 7.2 Each Party may terminate this Agreement on written notice to
the other Party if any of the following occurs: 
  

	 	a)	the other Party files a petition in bankruptcy or the other Party is served with an involuntary petition in bankruptcy and the involuntary petition is not dismissed within [***] days; or 

 

	 	b)	the other Party breaches any material term of this Agreement and does not cure the breach within [***]days for non-payment of any non-disputed sums) after receipt of written notice of the breach from the
non-breaching Party. For the avoidance of doubt, non-compliance by Allergan with its obligations pursuant to Section 3.9 will constitute a breach of a material term of this Agreement. 

7.3 Allergan may terminate this Agreement without cause on [***] days written notice to Pieris. Termination under this section will extinguish
Allergan’s obligation to make any payment under Section 6 with respect to any event that does not occur by the end of the [***]-day notice period. 

7.4 Subject to Sections 7.5 - 7.7, 8.5, 8.6, 10.1 to 10.3, 10.11 to 10.14, 11, 13 and 14 which will survive any termination of this Agreement, all
rights and obligations of either Party under this Agreement (including, without limitation, the licenses granted pursuant to Section 5 and the exclusivity obligations contained in Section 4) will terminate on the effective date of any
termination of this Agreement. 
 7.5 Promptly after termination of this Agreement pursuant to Section 7.2 or 7.3, each Party will at the
request of the other Party return or destroy any Confidential Information of the other Party in accordance with that Party’s instructions, except that a Party may retain one copy of the information for archival purposes. 

7.6 The termination or expiration of this Agreement, in whole or in part, will be without prejudice to (a) the right of Pieris to receive all
amounts accrued hereunder prior to the effective date of such termination or expiration and (b) any other remedies as may now or hereafter be available to any Party, whether under this Agreement or otherwise. 

7.7 In the event that Pieris terminates this Agreement under Section 7.2 or Allergan terminates this Agreement under Section 7.3, then Pieris
(and any person to whom Pieris may license or transfer rights in any Compound, Lead Compound, Development Compound, Modified Compound or Licensed Product) will have the right to reference for no consideration any Data

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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submitted by Allergan to any regulatory authority to the extent reference to such Data is required for any regulatory filing in connection with the research, development or commercialization of
that Compound, Lead Compound, Development Compound, Modified Compound or Licensed Product. This section does not obligate Allergan to continue or otherwise maintain any regulatory filings following termination of this Agreement, nor does it obligate
Allergan to convey to Pieris any rights to any regulatory filing. Furthermore, in no event will Allergan be obligated to convey to Pieris any rights to any [***]. 

8. MAINTENANCE, REPORTING, AND REGULATORY SUPPORT 

8.1 Within [***] days of the Effective Date, Pieris will disclose to Allergan all Know-How that Pieris owns or otherwise controls, provided that Pieris
is not prohibited from disclosing such Know-How under any agreement concluded with any third party. Thereafter, and until the expiration of the [***] year following the Effective Date, Pieris will disclose to Allergan any additional Know-How that
Pieris is allowed to disclose within a reasonable period of time after Pieris creates or otherwise acquires such Know-How. After the expiration of the [***] year following the Effective Date, Pieris will disclose to Allergan, on Allergan’s
reasonable request, any Know-How that may facilitate Allergan’s development of Compounds, Development Compounds, or Licensed Products under this Agreement. 

8.2 At least once per quarter, or as frequently as the JDC may otherwise determine, Pieris will provide Allergan with written reports setting forth a
summary and interpretation of Data it obtains in performing research pursuant to this Agreement. The report will contain such other information as determined by the JDC. 

8.3 Pieris will create and maintain complete and accurate written records of Data obtained under this Agreement, for as long as required under
applicable law, or until the termination or expiration of this Agreement, whichever is longer, and will make such records available to Allergan for inspection and copying (at Allergan’s expense) during regular business hours on reasonable
advance notice. 
 8.4 Representatives of Allergan may, on reasonable notice and at times reasonably acceptable to Pieris, visit for any purpose
determined by the JDC those facilities of Pieris where it conducts activities under this Agreement. 
 Ownership of Data 

8.5 Pieris will solely own all Data it generates alone or generates jointly with Allergan relating to the synthesis, discovery, design or manufacture
of Compounds, and will grant to Allergan an exclusive right to use such Data to research, develop, make, have made, and sell Compounds within the Allergan Field. Pieris will have the right to use such Data for any purpose outside the Allergan Field,
provided that such use is not inconsistent with any other provision of this Agreement. 
 8.6 Notwithstanding Section 8.5, Allergan will solely
own all Data it generates alone or generates jointly with Pieris relating to [***], or the combination of [***], and will grant to Pieris a non-exclusive right to use such Data for the purpose of conducting research pursuant to this Agreement.
Subject to Section 10.12, Allergan will have the right to use the Data for any purpose. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 Regulatory Rights and Cooperation Regarding Regulatory Matters 

8.7 [***] will determine all regulatory plans and strategies for [***] in the Allergan Field (which plans and strategies will be in compliance with
Section 3.9), and will [***] submit to and prosecute before Regulatory Authorities any matter with respect to Compounds, Lead Compounds, Development Compounds, Modified Compounds, and Licensed Products in the Allergan Field. Allergan will own
all submissions to and approvals granted by Regulatory Authorities. Allergan will inform Pieris of any such submissions or approvals. 
 8.8
Notwithstanding any provision in this Agreement to the contrary, Allergan may disclose any Confidential Information to any Regulatory Authority. 

8.9 The Parties will disclose to each other any information showing that any Development Compound or Licensed Product that the Parties are both
developing or commercializing, in any field, are associated with any serious adverse event in any human. The Parties will disclose this information as soon as practical after acquiring it, and at most [***] days. In connection with humans,
“serious adverse event” has the same meaning as that term in International Conference on Harmonisation, Guideline for Industry, Clinical Safety Data Management: Definitions and Standards for Expedited Reporting (March, 1995). Within
a reasonable time, but no later than [***] months after the Effective Date, the Parties will negotiate an agreement establishing additional procedures for the exchange of such information. 

8.10 [***] will make its employees and others working on its behalf reasonably available to consult with [***] and with any Regulatory Authority on any
issue arising under this Agreement, [***]. 
 9. MANUFACTURE OF COMPOUNDS 

9.1 Allergan will have the right to manufacture or have a third party manufacture all of Allergan’s requirements of Compounds for pre-clinical
studies, clinical trials, and for commercial sale, without further obligation to Pieris. At Allergan’s request, Pieris will reasonably assist Allergan, at Allergan’s expense, in manufacturing or having manufactured the Compounds, including
disclosing to Allergan or the third party such Know-How that is reasonably necessary to manufacture the Compound. If not already conveyed to Allergan under Section 5, Pieris will convey to Allergan such rights that Pieris owns or is able to
license to Allergan (subject to Section 5.4) as are required for Allergan to manufacture the Compounds or have the third party manufacture them; such rights will include[***] in accordance with [***] set forth in that agreement, [***]. If
Allergan wishes to [***]. The Parties agree that it is the goal of Pieris and Allergan that [***] in relation to the Compounds as soon as possible following the execution of this Agreement, and both Parties will cooperate to achieve such goal. 

9.2 As a condition of any disclosure of Pieris Know-How from Allergan to a third party, the third party must agree to be bound by an agreement
obligating it to maintain the Know-How in confidence under substantially the same terms as those set forth in Section 11 and not to use such Know-How for any purposes outside of the Allergan Field. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 10. INTELLECTUAL PROPERTY 

Ownership 
 10.1 Each Party
will solely own any invention it solely invents. The Parties will jointly own any invention they jointly invent. Allergan will have the exclusive right to use and commercialize (including by way of license or transfer of rights) any joint invention
in the Allergan Field, and Pieris will have the exclusive right to use and commercialize (including by way of license or transfer of rights) any joint invention in the field of [***]. In all other fields [***], no Party will be entitled to use or
commercialize (including by way of license or transfer of rights) any joint invention without the consent of the other Party. 
 10.2 Notwithstanding
the preceding section (Section 10.1), Allergan will solely own all inventions Allergan invents alone or jointly with Pieris relating to [***], whether [***] or other [***]. 

10.3 Subject to the restrictions applicable to Modified Compounds as set forth in Section 3.4, Allergan hereby grants to Pieris an exclusive
license, with the right to sublicense, to make, have made, use, sell, offer for sale, and import in the field [***] all joint inventions relating to Compounds, Lead Compounds, Development Compounds, or Licensed Products or their respective
synthesis, discovery, design, or manufacture [***]. A claim of any patent or patent application defining such inventions will be a “Pieris Claim.” 

10.4 Each Party will promptly disclose to the other Party any inventions that are jointly owned pursuant to Sections 10.1 and 10.2. In addition,
each Party will ensure in its contracts with its employees, agents, consultants or contractors that the ownership rights set forth in Sections 10.1 and 10.2 be conferred on the other Party. 

Prosecution 
 10.5 Pieris
will be responsible for drafting, prosecuting, and maintaining (all of these activities will be referred to as “Prosecuting”), at its expense, the Pieris Patents. 

10.6 Pieris will provide Allergan with copies of any documents received or prepared in connection with the Prosecution of the Pieris Patents which are
material to Allergan’s rights hereunder and will inform Allergan of the progress of it. Before filing in connection with the Prosecution of the Pieris Patents any document with a patent office which is material to Allergan’s rights
hereunder, Pieris will provide a copy of the document to Allergan sufficiently in advance of any deadline for filing it, and Pieris will give due consideration to any comments that Allergan may have. Pieris will moreover not unreasonably decline to
file within the patent office of any country any claim or claim amendment (drafting a new application, if necessary) materially affecting Allergan’s rights under this Agreement that Allergan reasonably requests Pieris to file (provided that
Allergan will reimburse to Pieris all reasonable external costs incurred by Pieris as a result of such request, to the extent that such costs are incurred for the purpose of filing or 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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prosecuting claims covering inventions within the Allergan Field or, in relation to Modified Compounds only, covering claims within and outside of the Allergan Field), and Pieris will use
commercially reasonable efforts to prosecute such claims to issuance. Allergan’s request will be reasonable, and Pieris will have no reasonable grounds for declining it, if it relates to a Modified Compound, if it relates to the use (including,
for example, the delivery) of a Compound in the Allergan Field, or if it relates to an application that Pieris has filed and there is support in the application for such claim (the foregoing is not an exhaustive list; there may be other requests
that are reasonable), provided that the request complies with the terms of this Agreement (including Section 10.12). Any such claims will be regarded as Pieris Patents and be subject to the license granted to Allergan under Section 5
above. Pieris will not reasonably do or fail to do anything that will render any Pieris Patent unenforceable. 
 10.7 The Parties will confer
regarding where to Prosecute the Pieris Patents, but, at a minimum and subject to Section 10.8, Pieris will Prosecute the Pieris Patents in [***]; Pieris will [***]. 

10.8 In the event that Pieris elects not to Prosecute in any country any Patent Right under the Pieris Patents, including an application containing a
claim that Allergan reasonably requests Pieris to file under Section 10.6, Pieris will give Allergan at least [***] days notice before any relevant deadline and provide to Allergan all information reasonably relating to such Patent Right.
Allergan will have the right, exercisable within [***] days of such notice, to take an assignment and to control the further Prosecution of such Patent Right, at Allergan’s expense, provided that Pieris will retain a royalty-free,
milestone-free, irrevocable, non-exclusive license (with the right to sub-license) to such Patent Right in the Pieris Field. 
 10.9 The Parties will
confer regarding the desirability of seeking in any country any supplemental patent protection (e.g., such as that afforded by a supplemental patent certificate) or patent term extension in connection with any Pieris Patent or any Pieris Claim.
Pieris will, however, not be obliged to seek Allergan’s consent to apply or not to apply for any such extension or protection for any Pieris Patent and Allergan will not apply for any such extension or protection for any Pieris Patent without
Pieris’ prior written consent. Allergan may, however, apply for any patent term extension or supplemental patent protection for any Pieris Claim without Pieris’s consent, and may request that Pieris apply for such extension or protection,
in which case Pieris will do so, in return for which Allergan will reimburse to Pieris all reasonable external costs incurred by Pieris for the application. 

10.10 Allergan may apply for any patent term extension or supplemental patent protection without Pieris’s consent for any Pieris Patent
specifically relating to a Modified Compound or its manufacture or use [***], and may request that Pieris apply for such extension or protection, in which case Pieris will do so, in return for which Allergan will reimburse to Pieris all reasonable
external costs incurred by Pieris for the application, so long as such application (whether by Allergan or Pieris) does not preclude Pieris from obtaining for a Pieris Patent a patent term extension or supplemental patent protection with respect to
a) [***] and [***]; or b) any Anticalin, other than a Modified Compound, that Pieris, whether by itself or through a third party (such as, e.g., a licensee), is testing in a human clinical trial or is selling to the public. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 10.11 Allergan will be responsible for Prosecuting, at its expense, Patent Rights claiming joint
inventions. Allergan will provide Pieris with copies of any documents received or prepared in connection with the Prosecution of the Patent Rights claiming joint inventions and will inform Pieris of the progress of it. Before filing any document
with a patent office in connection with the Prosecution of such Patent Rights, Allergan will provide a copy of the document to Pieris sufficiently in advance of any deadline for filing it, and Allergan will give due consideration to any comments
that Pieris may have. The foregoing notwithstanding, Allergan will not reasonably do or fail to do anything that will render any such Patent Rights unenforceable. 

10.12 Notwithstanding Section 10.11, Allergan will not be entitled to use any Data for the purposes of or in connection with any patent
application which includes patent claims outside of the Allergan Field. 
 10.13 In the event that Allergan elects not to Prosecute in any country
any Patent Rights claiming joint inventions, Allergan will give Pieris [***] days notice before any relevant deadline and provide to Pieris all information reasonably relating to Patent Rights. Pieris will have the right, exercisable within [***]
days of such notice, to take an assignment and to control the further Prosecution of such Patent Right, at Pieris’ expense, provided that (i) Allergan will retain a royalty-free, milestone-free, irrevocable, non-exclusive license (with the
right to sub-license) to such Patent Right in the Allergan Field and (ii) such Patent Right will be regarded as “Pieris Claim” for the purposes of Section 6. 

10.14 Each Party will, and will cause its employees, agents, consultants and contractors to, execute such documents and take such other actions as
reasonably necessary or appropriate to enable the other Party to document its ownership in, or Prosecute, Patent Rights in accordance with the provisions of this Section 10. 

Infringement by Third Parties 

10.15 The Parties will promptly notify each other of any actual or threatened infringement of the Pieris Patents and of any Pieris Claims solely owned
by Pieris or jointly owned by the Parties. 
 10.16 Allergan will have the exclusive right to bring and control, at its expense, any proceeding
before any government or private tribunal (“Infringement Action”) to remedy the infringement of any Pieris Patent or Pieris Claim in the Allergan Field. Pieris will have the right, at its own expense and by counsel of its choice, to
be represented in any such action. Allergan will be entitled to [***] of any recovery realized as a result of any such Infringement Action ([***]). 

10.17 Pieris will have the exclusive right to bring and control, at its expense, any Infringement Action to remedy the infringement of any Pieris
Patent or Pieris Claim in the Pieris Field. Allergan will have the right, at its own expense and by counsel of its choice, to be represented in any such action. Pieris will be entitled to [***] of any recovery realized as a result of any such
Infringement Action ([***]). 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 Infringement of Third-Party Rights 

10.18 The Parties will promptly notify each other of any allegation that any activity pursuant to this Agreement infringes or may infringe the
intellectual property rights of any third party. 
 10.19 In any allegation that the manufacture or sale of Licensed Products infringes an
intellectual property right, Allergan will have the exclusive right to control, at its expense, the defense of any claim involving such allegation. 

10.20 The Parties will cooperate in all respects with one another in prosecuting or defending any action pursuant to this section. 

11. CONFIDENTIALITY AND PUBLICATION 

11.1 During the term and for [***] years thereafter each Party will not disclose or use any Confidential Information unless allowed to do so under this
Agreement. Each Party will promptly notify the other on discovering any unauthorized disclosure or use of Confidential Information. 
 11.2 The
obligations of non-disclosure and non-use contained in this section will not apply to the extent that the Party receiving the Confidential Information can establish that 

 

	 	a)	the information is publicly known, or becomes publicly known through no breach of this Agreement; 

  

	 	b)	the Party knew the information before receiving it from the disclosing Party; 

  

	 	c)	the Party received the information from a third party not bound to the disclosing Party by any obligation of non-disclosure; 

  

	 	d)	the Party independently develops the information without using any Confidential Information; or 

  

	 	e)	the Party is required to disclose the information by law, provided that the Party i) as soon as practical before the disclosure, notifies the other Party; and ii) takes all reasonable steps to limit the disclosure.

 11.3 This Agreement and its terms will be considered Confidential Information of both Parties. Unless required by law, neither Party
may make any public announcement relating to this Agreement or the activities that the Parties conduct pursuant to it, without prior written consent of the other Party, such consent not to be unreasonably withheld. Pieris will be allowed to issue a
press release in connection with the signing of this Agreement. The details of such press release will be agreed with Allergan prior to its release. 

11.4 Should a Party wish to publish any research relating to this Agreement or that otherwise contains Confidential Information, the Party will submit
a copy of the proposed publication to the JDC and the other Party at least [***] days before submitting the publication to a journal or other forum or otherwise disclosing it. The JDC and the reviewing Party may [***]. 

11.5 Neither Party may use the name or mark of the other Party without prior written consent of the other Party. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 12. REPRESENTATIONS AND WARRANTIES 

12.1 Each Party represents to the other that as of the Effective Date: 
  

	 	a)	it is duly organized and validly existing under the laws of its state of incorporation and has full authority to enter into this Agreement; 

 

	 	b)	the execution and performance of this Agreement does not conflict with any other agreement, oral or written, to which it is a party. 

12.2 Pieris represents that as of the Effective Date: 
  

	 	a)	it is the sole owner of the Pieris Patents listed in Exhibit B and has sufficient rights to grant the licenses of Section 5; 

 

	 	b)	to its knowledge, no third party has any rights in the Pieris Patents, any Pieris Know-How disclosed hereunder, or any Compounds that would impair Allergan’s rights under this Agreement; 

 

	 	c)	there are no unresolved claims that Pieris’s manufacture, use, sale, offer for sale, or importation of any Compound infringes or may infringe any third party patents or other intellectual property right;

  

	 	d)	the Pieris Patents are applied or registered as indicated in Exhibit B, and are not the subject of any interference or opposition proceeding or any litigation; 

 

	 	e)	it has disclosed to Allergan in Exhibit E [***]; and  

  

	 	f)	has disclosed to Allergan all patents and patent applications which Pieris knows would be infringed by the use, sale, offer for sale, manufacture, or importation of Compounds. 

12.3 Except for the warranties set forth in Sections 12.1 and 12.2, neither Party makes any warranties, written, oral, express or implied, under this
Agreement, and each Party disclaims all other warranties, express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose and non-infringement. 

12.4 EXCEPT FOR THOSE CLAIMS OF A THIRD PARTY AS MAY BE PAYABLE PURSUANT TO THIS AGREEMENT, PIERIS WILL NOT BE LIABLE TO ALLERGAN FOR ANY INDIRECT,
INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES, WHETHER LIABILITY IS ASSERTED IN CONTRACT, TORT, OR OTHERWISE. IN ANY EVENT, PIERIS TOTAL AGGREGATE LIABILITY UNDER THIS AGREEMENT WILL BE LIMITED TO THE PAYMENTS ACTUALLY RECEIVED FROM ALLERGAN
PURSUANT TO SECTION 6. 

  
 Portions of the
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 13. INDEMNIFICATION 

13.1 Allergan will defend, indemnify and hold Pieris, its officers, directors, employees and agents harmless from any losses, damages, or expenses
(including reasonable attorneys’ and professional fees and other expenses of litigation) arising out of claims brought by a third party as a result of activities of Allergan under this Agreement, except to the extent such losses, damages, or
expenses are caused by or result from the negligent or intentional acts or omissions of Pieris, its officers, directors, agents, or employees, or are caused by or result from the material breach by Pieris of this Agreement. 

13.2 Pieris will defend, indemnify and hold Allergan, its officers, directors, employees and agents harmless from any losses, damages, or expenses
(including reasonable attorneys’ and professional fees and other expenses of litigation) arising out of claims brought by a third party as a result of any negligent or intentional acts or omissions of Pieris, its officers, directors, agents, or
employees, or any material breach by Pieris of this Agreement. 
 14. General Provisions 

14.1 Governing Law. This Agreement will be governed by the laws of England and Wales. 

14.2 Disputes. In the event of any controversy, claim or counterclaim arising out of or in relation to this Agreement (other than those disputes
subject to the resolution procedure described in Section 2.4), the Parties will first attempt to resolve such controversy or claim through good-faith negotiation between Pieris’ CEO and Allergan’s Executive Vice President, Research
and Development, for a period of not less than [***] days following written notification of such controversy or claim to the other Party. If such controversy or claim cannot be resolved by means of such negotiations during such period, then it will
be [***]. [***]. 
 14.3 Notices. Any notice made pursuant to this Agreement will be effective only if made in writing and delivered to all of
the addresses below: 
 If to Pieris: 
  

	 	1.	Chief Executive Officer 

 Pieris AG 

Lise-Meitner-Straße 30 

85354 Freising-Weihenstephan 

Germany 
 +49 (0) 8161 14 11 444
fax 
 +49 (0) 8161 14 11 400 tel. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 If to Allergan: 

 

							
	1.	  	 Exec. Vice President, Research and Development

Allergan, Inc.
 2525 Dupont Drive

Irvine, California, 92623
 (714) 246-4971 fax

(714) 246-4919 tel.
	  	2.	  	 General Counsel
 Allergan, Inc.

2525 Dupont Drive
 Irvine, California, 92623

(714) 246-4971 fax
 (714) 246-4535 tel.

				
	3.	  	 Allergan Sales, LLC
 2525 Dupont Drive

Irvine, California, 92623
	  	4.	  	 Allergan Pharmaceuticals Holdings (Ireland) Ltd

Longphort House, Earlsfort Centre
 Lower Leeson Street

Dublin 2, Ireland

 The notice will be effective upon delivery. A Party may change the delivery addresses by notice to the other Party. 

14.4 Entire Agreement. This Agreement embodies the entire agreement between the Parties and supersedes any prior agreements between them
(including, in particular, [***]). This Agreement may be modified in writing only. 
 14.5 Non-Waiver. The failure of a Party in any one or
more instances to insist upon strict performance of any terms of this Agreement will not constitute a waiver of the right to assert such terms on any future occasion. 

14.6 Disclaimer of Agency. Neither Party is the representative of the other, and neither Party has the authority to bind the other Party to any
obligation to any third party. 
 14.7 Severability. If a court or government agency of competent jurisdiction holds that any provision of
this Agreement is invalid or unenforceable, then that provision will be severed and the remainder of the Agreement will continue in full force. To the extent possible, the Parties will revise such severed provision in a manner that comes closest to
the original intention of the Parties and will render it valid. 
 14.8 Assignment. Either Party may assign this Agreement as part of a sale
of substantially all of the Party’s capital stock or assets. Neither Party may assign its interest in this Agreement in whole or in part for any other reason without the prior written consent of the other Party, such consent not to be
unreasonably withheld. The foregoing notwithstanding, either Party may assign this Agreement, in whole or in part, to any of its Affiliates. 
 14.9
Force Majeure. Neither Party will be liable for any failure to perform any obligation of this Agreement caused by the effects of fire, earthquake strike, war (declared or undeclared), insurrection, government action or inaction, force
majeure, or other causes reasonably beyond its control and without its fault, but the Party failing to perform will use all reasonable efforts to resume performance of this Agreement as soon as feasible. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 14.10 Counterparts. This Agreement may be executed in two or more counterparts and transmitted
to each Party by facsimile, email, or any other means, and each such counterpart, when executed, will be as effective an original copy, and together the counterparts will constitute one document. 

14.11 Whenever the deadline for taking any action under this Agreement falls on a Saturday, Sunday, or bank holiday, a Party may, without penalty, take
that action on the succeeding day that is not a Saturday, Sunday, or bank holiday. 

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 The Parties execute this Agreement by signing below: 

 

									
	ALLERGAN SALES, LLC	 		 		 	PIERIS AG
					
	By:	 	 /s/ David M. Lawrence
	 		 	By:	 	 /s/ Claus Schalper

					
	Name:	 	 David M. Lawrence
	 		 	Name:	 	 Claus Schalper

					
	Title:	 	 Vice President
	 		 	Title:	 	 CEO / CFO

			
	ALLERGAN, INC.	 		 	ALLERGAN PHARMACEUTICAL HOLDINGS (IRELAND) LTD.
					
	By:	 	 /s/ Scott M. Whitcup, M.D.
	 		 	By:	 	 /s/ Jim Hindman

					
	Name:	 	 Scott M. Whitcup
	 		 	Name:	 	 Jim Hindman

					
	Title:	 	 Executive Vice President,
	 		 	Title:	 	 Managing Director

		 	Research and development	 		 		 	

  
 Portions of the
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Securities Exchange Act of 1934, as amended. 
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 EXHIBIT A 

ALLERGAN AND PIERIS DISCOVERY RESEARCH PLAN 

Introduction 
 Ocular diseases, [***].

 [***] 
  

					
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]

  
 Portions of the
exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 EXHIBIT B 

PIERIS PATENTS 
 [***] 

  
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Securities Exchange Act of 1934, as amended. 
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 EXHIBIT C 

[***] [***] [***] 
 [***] 

[***] 
 [***]: [***] 

[***] 

  
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exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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 EXHIBIT D 

[***] 

  
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Securities Exchange Act of 1934, as amended. 
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 EXHIBIT E 

[***] 
 [***] 

  
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exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 
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