Document:

EX-10.13

 Exhibit 10.13 

PATENT LICENSE AGREEMENT 

AGREEMENT NO. PM1401601 
 This Patent
License Agreement is between the Licensor and the Licensee identified below (collectively, “Parties”, or singly, ‘Party”). 
 No
binding agreement between the Parties will exist until this Patent License Agreement has been signed by both Parties. Unsigned drafts of this Patent License Agreement shall not be considered offers. 

Background 
 Licensor owns or controls
Patent Rights. Licensee desires to secure the right and license to use, develop, manufacture, market, and commercialize the Patent Rights. Licensor has determined that such use, development, and commercialization of the Patent Rights is in the
public’s best interest and is consistent with Licensor’s educational and research missions and goals. Licensor desires to have the Patent Rights developed and used for the benefit of Licensee, the inventors, Licensor, and the public. 

NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained, the Parties hereby agree as follows: 

The Terms and Conditions of Patent License attached hereto as Exhibit A are incorporated herein by reference in their entirety (the “Terms and
Conditions”). In the event of a conflict between provisions of this Patent License Agreement and the Terms and Conditions, the provisions in this Patent License Agreement shall govern. Unless defined in this Patent License Agreement capitalized
terms used in this Patent License Agreement shall have the meanings given to them in the Terms and Conditions. 
 The section numbers used in the left hand
column in the table below correspond to the section numbers in the Terms and Conditions. 
  

					
	1. Definitions
			
			Effective Date		Date of last signature below
			
			Licensor		The University of Texas at Austin, on behalf of the Board of Regents of the University of Texas System, an agency of the State of Texas, whose address is 3925 W. Braker Lane, Suite 1.9A (R3500), Austin, Texas 78759.
			
			Licensee		AEMase Inc., a Delaware, C-corporation, which is a wholly owned subsidiary of Aeglea BioTherapeutics Holdings, LLC, a Delaware limited liability corporation, with its principal place of business at 815-A Brazos St., #101, Austin TX
78701

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page 1		Agreement No. PM1401601

					
		  	 Contract Year and

Contract Quarters
	  	(Check one box to correspond with Licensee fiscal year and quarters)
			
		  		  	 x Contract Year is 12-month period ending on December 31 and Contract Quarters are 3-month
periods ending on March 31, June 30, Sept. 30, Dec. 31
 OR
  ̈ Other: Contract Year is 12-month period ending on (specify): [month and day]; Contract Quarters are 3-month periods ending on (specify): [month and day, Q1], [month and day, Q2], [month and day, Q3],
[month and day, Q4]

			
		  	Territory	  	World-wide
			
		  	Field	  	 x All fields

OR
  ̈ Limited
fields
 Field: [Describe field of use] Field: [Describe field of use]

If the Field is not “All Fields” and “Limited fields” is checked, Excluded

Fields include:
 Excluded Field: [Describe excluded field of
use]
 Excluded Field: [Describe excluded field of use]

			
		  	Patent Rights	  	

  

											
	 	  	 App. No./

Date of Filing
	  	 Title
	  	 Inventor(s)
	  	 Jointly Owned?

(Y/N; if Y, with whom?)
	  	 Prosecution Counsel

		  	 61/871,768
 filed

8/29/2013
	  	Engineering Primate L- Methionase for Therapeutic Purposes (6314 GEO)	  	 George Georgiou
 Wei-Cheng Lu
Everett M. Stone
	  	  ̈ Yes, w/[whom]

x No
	  	Parker Highlander PLLC

  

					
		 	 USPTO Entity Status as

of Effective Date
	  	 Check one box:
 x Small
  ̈
Large

  

							
	2.4. Diligence Milestones	  	
				
		  	Milestones and deadlines (see Section 20.1)	  	Milestone Events	  	Deadlines
		  	  	1. [***]	  	[***]
		  	  	2. [***]	  	[***]
		  	  	3. [***]	  	[***]
		  	  	4. [***]	  	[***]
		  	  	5. [***]	  	[***]
		  		  	6. [***]	  	[***]
		  		  	7. [***]	  	[***]
		  		  	8. [***]	  	[***]
		  		  	9. [***]	  	[***]

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.	  	CONFIDENTIAL	  	Exclusive PLA
	The University of Texas at Austin	  	Page 2	  	Agreement No. PM1401601

							
	 3. Compensation
		
				
	 3.1(a)
		Patent expenses due upon Effective Date		Amount		based on invoices received as of:
					$[***]		
				
	 3.1(b)
		Milestone fees		Milestone Events		Milestone Fees
					1. [***]		$[***]
					2. [***]		$[***]
					3. [***]		$[***]
					4. Obtain Regulatory Approval in any country for a Licensed Product.		$5,000,000
					5. Obtain Regulatory Approval in any country for a second disease indication for a Licensed Product.		$500,000
				
	 3.1(c)
		Scheduled license fee payments		[***]		
			
	3.1(d)		Sublicense Fees		 30% of Non-Royalty Sublicensing Consideration from a Sublicense Agreement fully signed prior to December 31, 2014

25% of Non-Royalty Sublicensing Consideration from a Sublicense Agreement fully signed during the Contract Year ending December 31, 2015

20% of Non-Royalty Sublicensing Consideration from a Sublicense Agreement fully signed during the Contract Year ending December 31, 2016

15% of Non-Royalty Sublicensing Consideration from a Sublicense Agreement fully signed during the Contract Year ending December 31, 2017

6.5% of Non-Royalty Sublicensing Consideration from a Sublicense Agreement signed after December 31, 2017

				
	3.1(e)		Assignment Fee		[***]		
				
	3.2		Running royalty rate (applies to Net Sales by Licensee, Affiliates and Sublicensees)		[***]%		

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page 3		Agreement No. PM1401601

					
	18. Contact Information
			Licensee Contacts		Licensor Contacts
			 Contact for Notice:
 Attn:
David G. Lowe
 AEMase Inc.

c/o Aeglea Development

Company
 815-A Brazos St.,
#101
 Austin TX, 78701

Fax: 866 873-2149
 Phone:
[TELEPHONE]
 E-mail: [EMAIL]
  

Accounting contact
 Attn: Charles York

AEMase Inc.
 c/o Aeglea
BioTherapeutics
 Fax: (866) 873-2149

Phone: [TELEPHONE]

E-mail: [EMAIL]
  

Patent prosecution contact:
 Attn: David G.
Lowe
 AEMase Inc.
 c/o
Aeglea Development
 Company

815-A Brazos St., #101

Austin TX, 78701
 Fax: 866
873-2149
 Phone: [TELEPHONE]

E-mail: [EMAIL]
		 Contact for Notice:
 Attn:
Contract Manager
 3925 W. Braker Lane, Suite

1.9A (R3500)
 Austin, TX
78759
 Fax: 512 475-6894

Phone: 512 471-2995

E-mail: licensing@otc.utexas.edu
  

Payment and reporting contact: Checks payable to “The University of Texas at Austin”

Attn: Accounting
 3925 W.
Braker Lane, Suite
 1.9A (R3500)

Austin, TX 78759
 Fax: 512
475-6894
 Phone: 512 471-2995

E-mail:

accounting@otc.utexas.edu
  

Patent prosecution contact:
 Attn: Patents

3925 W. Braker Lane, Suite

1.9A (R3500)
 Austin, TX
78759
 Fax: 512 475-6894

Phone: 512 471-2995

E-mail:

patents@otc.utexas.edu

	For Licensor Administrative Purposes Only
		
	 Changes to Standard
 Form Terms
and
 Conditions
		There have not been any revisions to Licensor’s standard form Terms and Conditions, except for revisions to the following sections: §1, §2.1, §2.1.a, §2.1.b, §2.2, §2.3, §2.3.a-c,
§2.4, §3.1.a-c, §3.1.e, §3.2, §3.2.a-b, §3.3, §3.4, §4, §4.1.c-d, §4.2, §4.2.d, §4.3, §5.3, §5.4, §5.5, §6.1, §6.2, §6.3, §6.4, §7.1, §7.3.c-d,
§7.4.a, §7.5.a-c, §9.1, §9.2, §9.3, §9.4, §10, §11.1, §11.2, §12, §13.1, §13.2, §14.1, §14.2, §15, §16.1, §16.2, §16.3, §17, §19.8

 20. Special Provision. The Parties hereby agree to the following special provisions set forth in this
Section 20 with respect to this Patent License Agreement. 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page 4		Agreement No. PM1401601

	20.1	Commercial Development Milestones. 

 20.1.1 Upon written request from Licensee to
Licensor given prior to the scheduled deadline date to achieve a particular milestone event set forth in Section 2.4, Licensee may request a [***] extension of said milestone deadline date; and said request shall be accompanied by evidence that
demonstrates to Licensor’s reasonable satisfaction that Licensee (and/or its Affiliates and Sublicensees) have been devoting continued diligent efforts to achieve said milestone; and Licensor shall grant the requested extension if Licensor
approves the evidence and efforts, which approval will not be withheld unreasonably. 
 20.1.2 If a first extension has been granted pursuant to
Section 20.1.1 for a particular milestone deadline, Licensee may request a [***] extension for the same milestone deadline, which request shall be made in accordance with the provisions set forth in Section 20.1.1; and if Licensor grants
said request Licensee shall pay $[***] to Licensor as consideration for this second extension, payable within thirty (30) days after Licensee receives written notice that Licensor is willing to grant the extension, which extension will not be
effective if said consideration is not paid by said due date. Any failure to so pay said consideration shall not entitle Licensee to make a later delayed payment during any default cure period that is otherwise specified in this Agreement for curing
other defaults. 
 20.2 Only as long as Licensee is an Affiliate of Aeglea BioTherapeutics Holdings, LLC and has not assigned this Patent License
Agreement to a third party, the definition for “Non-royalty Sublicensing Consideration” shall be the following: [***]. 
 20.3 If the
Parties mutually determine that the rights granted by this License Agreement are essential to the Licensee’s use of any University Invention arising under Sponsored Research Agreement UTA13-001113, then such University Invention shall be
included in this License Agreement upon Licensee’s payment to Licensor of a fee of $[***]. 
 21. No Other Promises and Agreements;
Representation by Counsel. Licensee expressly warrants and represents and does hereby state and represent that no promise or agreement which is not herein expressed has been made to Licensee in executing this Patent License Agreement except
those explicitly set forth herein and in the Terms and Conditions, and that Licensee is not relying upon any statement or representation of Licensor or its representatives. Licensee is relying on Licensee’s own judgment and has had the
opportunity to be represented by legal counsel. Licensee hereby warrants and represents that Licensee understands and agrees to all terms and conditions set forth in this Patent License Agreement and said Terms and Conditions. 

22. Deadline for Execution by Licensee. If this Patent License Agreement is executed first by the Licensor and is not executed by the Licensee
and received by the Licensor at the address and in the manner set forth in Section 18 of the Terms and Conditions within 30 days of the date of signature set forth under the Licensor’s signature below, then this Patent License Agreement
shall be null and void and of no further effect. 
  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page 5		Agreement No. PM1401601

 IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized representatives to execute this Patent
License Agreement. 
  

									
	 LICENSOR: THE UNIVERSITY OF

TEXAS AT AUSTIN ON BEHALF OF THE
 BOARD OF REGENTS OF
THE
 UNIVERSITY OF TEXAS SYSTEM
				LICENSEE: AEMase Inc.
					
	By		/s/ Daniel W. Sharp				By		/s/ David G. Lowe
	Daniel W. Sharp, J.D.				David G. Lowe
	 Associate Vice President for Research and

Director, Office of Technology
 Commercialization
				President and Chief Executive Officer
					
	Date		12/20/13				Date		12/24/13

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page 6		Agreement No. PM1401601

 EXHIBIT A 

TERMS AND CONDITIONS OF PATENT LICENSE 

These Terms and Conditions of Patent License (“Terms and Conditions”) are incorporated by reference into the Patent License Agreement to which they
are attached. All Section references in these Terms and Conditions shall be references to provisions in these Terms and Conditions unless explicitly stated otherwise. 
  

	1.	Definitions 

 “Affiliate” means with any person, corporation or other
business entity which, directly or indirectly through one or more intermediaries, actually controls, is actually controlled by, or is under common control with a party. As used in this paragraph, “control” means to possess, directly or
indirectly, the power to affirmatively direct the management and policies of such person, corporation or other business entity, whether through ownership of at least fifty percent (50%) of the voting securities or by contract relating to voting
rights or corporate governance. 
 “Agreement” means collectively (i) these Terms and Conditions, and (ii) the
Patent License Agreement. 
 “BLA” means Biological License Application, as defined in the U.S. Federal Food, Drug and
Cosmetic Act and the regulations promulgated thereunder, as well as any equivalent foreign application, registration or certification in the relevant country, such as a Marketing Approval Application in Europe, in each case with respect to a
Licensed Product. 
 “Commercially reasonable efforts” means the expenditure of those efforts and resources used consistent
with the usual practice of similarly situated companies in pursuing development or commercialization of its other similar pharmaceutical products with similar market potential and at a similar stage in development. 

“Contract Quarter” means the three-month periods indicated as the Contract Quarter in Section 1 of the Patent License
Agreement or any stub period thereof at the commencement of the Agreement or the expiration or termination of the Agreement 

“Contract Year” means the 12-month periods indicated as the Contract Year in Section 1 of the Patent License Agreement,
or any stub period thereof at the commencement of the Agreement or the expiration or termination of the Agreement. 

“Covered” means that the use manufacture, sale, offer for sale, development, commercialization or importation of the subject
matter in question by an unlicensed entity would infringe a Valid Claim of a Patent Right. 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-1		Agreement No. PM1401601

 “Cumulative Received Capital” means the total funding received by Licensee and
its Affiliates after the Equity Financing which funding may be received in connection with any type of transaction, including, without limitation, grants, financings, licensing, research and development and strategic collaborations. 

“Effective Date” means the date indicated as the Effective Date in Section 1 of the Patent License Agreement. 

“Equity Financing” means a transaction or series of related transactions in which License and/or its Affiliates receive at
least $[***] in in cumulative proceeds from the sale of equity. 
 “Fair Market Value” means the cash consideration an
unaffiliated, unrelated buyer would pay in an arm’s length sale of a substantially identical item sold in the same quantity, under the same terms, and at the same time and place. 

“Field” means the field indicated as the Field identified in Section 1 of the Patent License Agreement. 

“Government” means any agency, department, unit, or other instrumentality of the United States of America, or any foreign
country, or any province, state, county, city or other political subdivision (including any supra-national agency such as in the European Union). 

“Gross Consideration” means all cash and non-cash consideration (e.g., securities). 

“IND” means an Investigational New Drug Application, as defined in the U.S. Federal Food, Drug and Cosmetic Act and the
regulations promulgated thereunder, or comparable filing in a foreign jurisdiction, in each case with respect to a Licensed Product. 

“Licensed Process” means a method or process whose practice or use is covered by a Valid Claim. 

“Licensed Product” means any product or component (i) whose manufacture, use, sale, offer for sale or import is Covered
by any Valid Claim, or (ii) which is made using a Licensed Process or another Licensed Product. 
 “Licensee” means
the Party identified as the Licensee in Section 1 of the Patent License Agreement. 
 “Licensor” means the Party
identified as the Licensor in Section 1 of the Patent License Agreement. 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-2		Agreement No. PM1401601

 “Milestone Fees” means all fees identified as Milestone Fees in
Section 3.1(b) of the Patent License Agreement. 
 “Net Product Sales” means gross amounts invoiced for
Licensee’s, its Affiliates’, and Sublicensees’ sales of Licensed Products, less the sum of the following, to the extent related to the sale of such Licensed Products: (1) discounts in amounts reasonable or customary in the trade,
including but not limited to trade, cash, consumer, and quantity discounts, and credits, price adjustments or allowances for damaged Licensed Products, returns, defects, recalls or rejections of Licensed Products or retroactive price reductions; (2)
reasonable rebates, credits, and chargeback payments granted to any Government or managed health care organizations, including their agencies, purchasers, and/or reimbursers, under programs available under or required by applicable laws, rules or
regulations, or reasonably entered into to sustain and/or increase market share for Licensed Products; (3) sales, value added, use, excise, and similar taxes (but excluding all types of income tax); (4) amounts allowed or credited on
returns for defective, damaged, expired, or otherwise unuseable or unsaleable Licensed Products; (5) freight, shipping, handling, and insurance charges that are specifically included in the billed amount; and (6) import or export duties,
tariffs, or similar charges incurred with respect to the import or export of Licensed Products into or out of any country. Such amounts shall be determined from the books and records of Licensee, its Affiliates, and Sublicensees maintained in
accordance with such reasonable accounting principles as may be consistently applied by Licensee, its Affiliates, and Sublicensees. 

Licensed Products are considered “sold” when billed out or invoiced or, in the event such Licensed Products are not billed out, or
invoiced, when the consideration for sale of the Licensed Products is received. Notwithstanding the foregoing, Net Product Sales shall not include, and shall be deemed zero with respect to (i) Licensed Products used by Licensee, its Affiliates,
or Sublicensees for their internal use (ii) the distribution of reasonable quantities of free promotional samples of Licensed Products, (iii) Licensed Products provided for clinical trials or research, development, or evaluation purposes,
or 
 (iv) Licensed Products provided by or on behalf of licensee, an Affiliate or a Sublicensee to Licensee, an Affiliate or a Sublicensee
for purposes of resale, provided such resale is subject to a-payments due Licensor under Section 32 of this Agreement. For avoidance of doubt, if Licensee sells a Licensed Product to an Affiliate or Sublicensee for the purpose of the Affiliate
or Sublicensee reselling the Licensed Product the final arms-length transaction sale by the Affiliate or Sublicensee shall be the royalty bearing sales transaction, rather than the intermediary sale(s). 

Notwithstanding anything to the contrary, in the event that any Licensed Product includes any proprietary active pharmaceutical ingredients
(“API”), proprietary drug delivery devices, or other proprietary technologies for which rights to use are not included in the licenses or sublicenses granted under this Agreement (“Other Technologies”) but, with respect to the
Other Technologies, may each or collectively form the basis for a 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-3		Agreement No. PM1401601

 
proprietary product separate from a Licensed Product (a “Combination Licensed Product”), then the Net Product Sales of such Combination Licensed Product in a particular country, for the
purposes of determining royalty payments due to Licensor hereunder, shall be determined by multiplying the Net Product Sales of the Combination Licensed Product in such country by the fraction MA-i-B), where A is the weighted average sale price of
the Licensed Product without the Other Technologies (the “Basic Licensed Product”) when sold separately in finished form in such country, and B is the weighted average sale price(s) of product(s) including the Other Technologies (such
products, “Other Licensed Products”) sold separately in finished form in such country (if there is more than one Other Licensed Product B shall equal the sum of all such Other Licensed Products’ weighted average sale prices in such
country). 
 In the event that, with respect to, any Combination Licensed Product sold in a particular country, the weighted average sale
price of the Basic Licensed Product in such country can be determined but the weighted average sale price(s) of the Other Licensed Product(s) in such country cannot be determined, Net Product Sales for purposes of determining royalty payments for
such Combination Licensed Product in such country shall be calculated by multiplying the Net Product Sales of the Combination Licensed Product in such country by the fraction A/C where A is the weighted average sale price of the Basic Licensed
Product when sold separately in finished form in such country and C is the weighted average sale price of the Combination Licensed Product in such country. 

In the event that, with respect to any Combination Licensed. Product sold in a particular country, the weighted average sale price(s) of the
Other Licensed Product(s) in such country can be determined but the weighted average sale price of the Basic Licensed Product cannot be determined, Net Product Sales for purposes of determining royalty payments shall be calculated by multiplying the
Net Product Sales of the Combination Licensed Product by the formula one (1) minus (B/C) (which may also be written as 1- (B/C)), where B is the weighted average sale price(s) of the Other Licensed Product(s) when sold separately in finished
form in such country and C is the weighted average sale price of the Combination Licensed Product in such country (if there is more than one Other Licensed Product B shall equal the sum of all, such Other Licensed Products’ weighted average
sale prices in such country). 
 In the event that, with respect to any Combination Licensed Product sold in a particular country, the
weighted average sale 
 price(s) in such country of neither the Basic Licensed Product nor the Other Licensed Product(s) in the Combination
Licensed Product can be determined, the Net Product Sales of the Combination Licensed Product shall, for the purposes of determining royalty payments with respect to such Combination Licensed Product, be commercially reasonable and determined by
good faith negotiation between Licensee and Licensor consistent with the ratios and related principles referenced above and based on the relative value of the Basic License Product and the Other Licensed Product included in such Combination Licensed
Product. 
  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-4		Agreement No. PM1401601

 The weighted average sale price for a Basic Licensed Product, Other Licensed Product(s), or
Combination Licensed Product in a particular country shall be calculated once for each Calendar Year and such price shall be used during all applicable royalty reporting periods for such Calendar Year When determining the weighted average sale price
of a Basic Licensed Product, Other Licensed Product(s), or Combination Licensed Product in a particular country, the weighted average sale price shall be calculated by dividing the sales dollars by the units of Basic Licensed Product, Combination
Licensed Product, or Other Licensed Product sold in such country during the twelve (12) months (or the number of months sold in a partial Calendar Year) of that Calendar Year for the respective Basic Licensed Product Other Licensed Product(s),
or Combination Licensed Product For each Calendar Year a reasonably forecasted weighted average sale price will be used for the Basic Licensed Product, Other Licensed Product(s), or Combination Licensed Product which forecasted weighted average sale
price will be for each Calendar Year other than the initial Calendar Year (or portion thereof) during which the Combination Licensed Product is sold, no less than the weighted average sale price for the Basic Licensed Product, Other Licensed
Product(s), or Combination Licensed Product in a particular country calculated for the preceding Calendar Year. Any over or under payment due to a difference between forecasted and actual weighted average sale prices will be paid or credited in the
payment due with respect to the following Calendar Year. 
 Notwithstanding anything to the contrary, in the case of discounts on
“bundles” of separate products or services which include Licensed Products (such “bundles” including but not limited to (i) contingent arrangements involving drugs that share the same NDC (whether the same or different
package sizes), drugs with different NDCs, or drugs and other products or services, (ii) circumstances in which a discount is conditioned on the achievement of some other performance requirement for the Licensed Product or other product or
service (e.g. achievement of market share or placement on a formulary tier), or 
 (iii) otherwise where the resulting price concessions or
discounts are greater than those which would have been available had the bundled products or services been purchased separately or outside the bundled arrangement), Licensee may calculate Net Product Sales and royalties due hereunder by applying a
discount to the price of a Licensed Product equal to the average percentage discount of all products or services of Licensee, its Affiliate(s), or Sublicensee(s) in a particular “bundle”, calculated as follows: 

Average percentage 
 discount on
a            +            [1 (X/Y)] x 100 

particular “bundle” 

where X equals the total discounted price of a particular “bundle” of products or services, and Y equals the sum of the undiscounted
bona fide list prices of each unit of every product or service in such “bundle”. Licensee shall provide Licensor documentation reasonably supporting such average discount with respect to each “bundle.” If a Licensed Product in a
“bundle” is not sold separately, and no bona fide list price exists for such 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-5		Agreement No. PM1401601

 
Licensed Product, Licensee and Licensor shall, for purposes of calculating Net Product Safes and royalties due hereunder, negotiate in good faith a reasonable imputed list price for such Licensed
Product and Net Product Sales. 
 “Non-Royalty Sublicensing Consideration” means subject to Section 20.2 of the Patent
License Agreement, the Gross Consideration received by the Licensee or its Affiliate from a Sublicensee in consideration of the grant of a sublicense under the Patent Rights, including, without limitation, fees for such sublicense or fees for an
option under such sublicense or fees for distribution under such sublicense or assignment fees for the assignment of such sublicense, fees to maintain license rights, and bonus/milestone payments (net of any withholding taxes or similar taxes
imposed by any Government that are not reasonably recoverable by Licensee or any Affiliate thereof), but excluding (a) amounts received as running royalties, a profit share, or other revenue sharing based on sales of Licensed Products for which
Licensor receives a running royalty under Section 3.2, (b) purchase price for Licensee’s stock or other securities not in excess of Fair Market Value, and (c) payments made for Licensee’s or its Affiliates’ performance
after the date of the Sublicense Agreement of any research or development work for any licensed Product (or the reimbursement of any of Licensee’s or its Affiliates’ costs and expenses related to such research or development work) so long
as said payments are not in excess of the Fair Market Value for such work, (d) any payment or reimbursement of any costs for filing, prosecution, maintenance, or defense of any Patent Rights, and (e) other Fair Market Value payments made
by a Sublicensee as consideration for Licensee’s or an Affiliate’s performance of services after the date of Sublicense Agreement or provision of goods. 

“Patent License Agreement” means the particular Patent License Agreement to which these Terms and Conditions are attached and
incorporated into by reference. 
 “Patent Rights” means the Licensor’s rights in (a) the patents and patent
applications listed in Section 1 of the Patent License Agreement; (b) all non-provisional patent applications that claim priority to any provisional application listed in Section 1 of the Patent License Agreement and (c) all
divisionals, continuations, and such claims of continuations-in-part as are entitled to claim priority to the aforesaid patents and/or patent applications, and all reissues, reexaminations, extensions of, and foreign counterparts; and (d) any
patents that issue with respect to the aforesaid patent applications. From time to time during the term of the Agreement upon written agreement by both parties, Licensee and Licensor shall update the list of all patent applications and patents
within the Patent Rights. 
 “Phase II” means a means a human clinical trial of a Licensed Product, including possibly
pharrnacokinetic studies, the principal purpose of which is to make a preliminary determination that such Product is safe in a patient population for its intended use and to obtain sufficient information about such Product’s efficacy to permit
the design of further clinical trials, and generally consistent with 21 CFR §312.21(b). Said trial may be conducted in any country. 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
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	The University of Texas at Austin		Page A-6		Agreement No. PM1401601

 “Phase III” means a human clinical trial of a Licensed Product, which trial is
designed to: (a) establish that a Licensed Product is safe and efficacious for its intended use (b) define warnings, precautions and adverse reactions that are associated with the Licensed Product in the dosage range to be prescribed;
(c) support regulatory approval of such Licensed Product and (d) be generally consistent with 21 CFR § 312.21(c). Said trial may be conducted in any country. 

“Prosecution Counsel” means the law firm or attorney who is handling the prosecution of the Patent Rights. Prosecution
Counsel as of the Effective Date is identified in Section 1 of the Patent License Agreement. 
 “Quarterly Payment
Deadline” means the day that is 90 days after the last day of any particular Contract Quarter. 
 “Regulatory
Approval” means, with respect to the United States, an NDA, BLA, or IND, any foreign counterparts or equivalents of any of the foregoing, any DMFs, and any other filings or submissions required by or provided by Government relating to the
manufacture, development or commercialization of a Licensed Product 
 “Sublicense Agreement” means any agreement or
arrangement pursuant to which Licensee) grants to any third party any license rights of licensee under the Agreement. 
 “Sublicense
Fee” means the fee specified in Section 3.1(d) of the Patent License Agreement. 
 “Sublicensee” means any
entity to whom an express sublicense has been granted under the Patent Rights. 
 “Territory” means the territory so
indicated as the Territory in Section 1 of the Patent License Agreement. 
 “Valid Claim” means a claim of (i) an
issued and unexpired patent included within the Patent Rights unless the claim has been held unenforceable or invalid by the final, un-reversed, and unappealable decision of a court or other government body of competent jurisdiction, has been
irretrievably abandoned or disclaimed, or has otherwise been finally admitted or determined to be invalid, un-patentable or unenforceable, whether through reissue, reexamination, disclaimer or otherwise, or (ii) a pending patent application
within the Patent Rights to the extent the claim continues to be prosecuted in good faith provided that if a particular claim has not issued within five (5) years of its initial filing, it shall not be considered a Valid Claim for purposes of
this Agreement unless and until such claim is included in an issued patent, notwithstanding the foregoing definition. 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-7		Agreement No. PM1401601

	2.	License Grant and Commercialization 

  

	 	2.1.	Grant 

  

	 	(a)	Licensor grants to Licensee a royalty-bearing exclusive license (with the right to sublicense as set forth in Section 2.3) under Patent Rights for the Field and in the Territory to make, have made, distribute, have
distributed, use; offer for sale, sell, lease, loan, export and/or import Licensed Products. 

  

	 	(b)	This grant is subject to any rights of, or obligations to, the Government as set forth in Section 11.2 (Government Rights). Licensor retains the right to practice the Patent Rights for its non-commercial teaching,
research, education, and other educationally-related purposes, including the right to (i) publish the scientific findings from such research and (ii) grant third party not-for-profit institutions rights under the Patent Rights solely for
non-commercial teaching, research, education, and other educationally-related purposes. In the event Licensor’s Office of Technology Commercialization (“OTC”) becomes aware of a proposed publication by George Georgiou that the OTC
understands is likely to include the Licensed Products, then OTC agrees to use reasonable efforts to submit said publication for review by Licensee in advance of publication and to give due consideration to any responsive comments by Licensee. Said
draft publication shall be treated as Licensor’s Confidential Information pursuant to Section 8 hereof. 

  

	 	(c)	Licensor reserves all rights not expressly granted in the Agreement and disclaims the grant of any implied rights to Licensee. 

  

	 	2.2.	Affiliates 

  

	 	    	Licensee may extend the license granted herein to any Affiliate provided that the Affiliate agrees in writing to be bound by the Agreement to the same extent as Licensee. Licensee agrees to deliver such written
agreement to Licensor within 30 calendar days following execution. No additional consideration shall be due to Licensor in connection with such extension. 

  

	 	2.3.	Sublicensing 

  

	 	    	Licensee and its Affiliates have the right to grant sublicenses under the Patent Rights. Each such sublicense must be consistent with the terms of the Agreement, subject to the following: 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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	The University of Texas at Austin		 Page A-8
		Agreement No. PM1401601

	 	(a)	Each Sublicensee shall be a party to a Sublicense Agreement that is consistent with, no less protective of Licensor’s rights than, and does not conflict with, the terms of this Agreement, and shall include terms
and conditions reasonably sufficient to enable Licensee to comply with the terms of this Agreement. Each Sublicense Agreement shall be granted for material consideration. In the event of termination of the Agreement continued sublicense rights shall
be governed by Section 7.5(a) (Effect of Termination). Sublicensees shall have the unlimited right to grant further sublicenses under any sublicense granted by the Licensee or its Affiliates pursuant to this Agreement, provided that (i) a
sublicensee of such Sublicensee shall not have the right to grant further sublicenses without the prior written consent of Licensor, which consent shall not be unreasonably withheld or delayed, (ii) any sub-sublicense complies with the terms of
this section, and (iii) such sub-sublicense is granted only to the extent it is necessary for commercialization of Licensed Products. 

  

	 	(b)	Licensor shall be given a true, complete, and correct copy of each Sublicense Agreement granted by Licensee, Affiliate or Sublicensee, and any modification or termination thereof, within 30 days following the applicable
execution of the respective Sublicense Agreement or any amendment to such Sublicense Agreement, and notwithstanding anything to the contrary herein, such Sublicense Agreement shall be deemed Licensee’s Confidential Information. If the
Sublicense Agreement is not in English, Licensee shall provide Licensor an accurate English translation of the sublicense. 

  

	 	(c)	Notwithstanding any such Sublicense Agreement, Licensee will remain primarily liable to Licensor for all of the Licensee’s duties and obligations contained in the Agreement, including without limitation the payment
of running royalties due under Section 3.2 whether or not paid to Licensee by a Sublicensee. 

  

	 	2.4.	Diligent Commercialization 

  

	 	    	Licensee by itself or through its Affiliates and Sublicensees will use commercially reasonable efforts to research, develop and commercialize at least one Licensed Product in the Field in the Territory. Without limiting
the foregoing, Licensee will fulfill the milestone events specified in Section 2A of the Patent License Agreement by the deadlines indicated therein and (c) use diligent and commercially reasonable efforts to perform and complete the plans
described in the annual report submitted pursuant to Section 4.2 (Annual Written Progress Report). Licensor hereby agrees that the efforts of Sublicensees, Affiliates, and any third party contractors shall be deemed the acts of Licensee for
purposes of satisfying this Section 2.4, and for the purposes of fees due under Section 3.1(b) of the Patent License Agreement. 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-9		Agreement No. PM1401601

	3.	Compensation 

  

	    	In consideration of rights granted to Licensee, Licensee will pay Licensor the following fees and royalties. All fees and royalties are not refundable and are not creditable against other fees and royalties. Each
payment will reference the Patent License Agreement number and will be sent to Licensor’s payment and accounting contact in Section 18 (Notices) of the Patent License Agreement. 

 

	 	3.1.	Non-Royalty Payments due from Licensee 

  

	 	(a)	Patent Expenses. Licensee will reimburse Licensor for the past patent expenses stated in Section 3.1(a) of the Patent License Agreement within 30 days after the Effective Date. The stated amount is the
current estimate for past patent expenses based on invoices received by the Licensor through the stated date. 

  

	 	    	Licensee’s obligations to pay all past and future patent expenses pursuant to Section 6 (Patent Expenses and Prosecution) will not be limited by such amount, provided, however, that in no event shall patent
expenses incurred prior to the Effective Date for which Licensee is responsible exceed $[***]. 

  

	 	(b)	Milestone Fees. Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth
in Section 3.1(b) of the Patent License Agreement are achieved. Notwithstanding anything to the contrary, each Milestone Fee is payable only once under this Agreement, with respect to the initial accomplishment thereof, regardless of the number
of Licensed Products (or indications therefor) or the number of times such milestone may be achieved. 

  

	 	(c)	Scheduled License Fees. Licensee will pay license fees in the amounts set forth in Sections 3.1(c) of the Patent License Agreement. Licensor will invoice Licensee for such fees in accordance with the stated
schedule (i.e., thirty days prior to the due date). Such invoices will be due and payable within thirty (30) days from the date of invoice 

  

	 	(d)	Sublicense Fees. Licensee will pay Sublicense Fees indicated in Section 3.1(d) of the Patent License Agreement on or before the Quarterly Payment Deadline for the Contract Quarter. 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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	 	(e)	Assignment Fee. Except as otherwise set forth in this section 3.1(e), in the event Licensee assigns this Patent License Agreement to a third party that is not an Affiliate of Licensee, Licensee will pay the
Assignment Fee forth in Section 3.1(e) of this Agreement within 15 days of the effective date of such assignment. Notwithstanding the foregoing, [***] an Assignment Fee shall not be due for assignments of this Patent License Agreement to an
Affiliate of Licensee; provided, however, that if such Affiliate ceases to be an Affiliate of Licensee, then an Assignment Fee shall become due and payable to Licensor within 15 days after such Affiliate ceases to be an Affiliate of Licensee.
Assignments are further governed by Section 15 below. 

  

	 	3.2.	Royalties 

  

	 	(a)	Licensee will pay a running royalty at the rate set forth in Section 3.2 of the Patent License Agreement on [***], payable on or before the Quarterly Payment Deadline for such Contract Quarter, subject to the
following: 

  

	 	(b)	No more than one royalty shall be paid to Licensor hereunder with respect to the Sale of any one unit of Licensed Product whether or not more than one patent or Valid Claim is applicable to the Licensed Product, or the
development, manufacture, or performance thereof. 

  

	 	(c)	If (i) a Licensed Product cannot be made or used without also using patent(s) or patent application(s) owned, licensed, or controlled by a third party in any country of the Territory, and Licensee, an Affiliate, or
any Sublicensee licenses such third party patent(s) or patent application(s) in order to minimize, mitigate, or avoid the risk of infringement-related litigation with respect to the manufacture, use, sate, marketing or provision of a Licensed
Product in any country of the Territory, then Licensee shall be entitled to deduct [***] of the consideration paid to any such third party for any such rights in a particular country (such consideration, “Third Party Royalties”) from any
payments due Licensor under Section 3.2(a) of this Agreement for the infringing Net Sales in that particular country, provided that such amounts payable shall not be reduced, with respect to any Contract Quarter below [***] of the amounts
otherwise due Licensor with respect to such Contract Quarter for said Net Sales without such offset (with any amount of any such consideration not used to reduce payments due Licensor hereunder as a result of such limit remaining available for
deduction from amounts due Licensor in future Contract Quarter for the infringing Net Sales in that particular country, subject to such [***] limit in each Contract Quarter)or (ii) Licensee, an Affiliate, or any Sublicensee licenses such third
party patent(s) or patent 

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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application(s) where such Licensee, Affiliate, or Sublicensee reasonably determines that it is necessary or advisable to obtain a license to any patent(s) or patent application(s) owned,
licensed, or controlled by a Third Party then Licensee shall be entitled to deduct [***] of the consideration paid to any such third party for any such rights in a particular country (such consideration, “Third Party Royalties”) from any
payments due Licensor under Section 3.2(a) of this Agreement for the infringing Net Sales in that particular country, provided that such amounts payable shall not be reduced, with respect to any Contract Quarter below [***] of the amounts
otherwise due Licensor with respect to such Contract Quarter for said Net Sales without such offset (with any amount of any such consideration not used to reduced payments due Licensor hereunder as a result of such limit remaining available for
deduction from amounts due Licensor in future Contract Quarter for the infringing Net Sales in that particular country, subject to such [***] limit in each Contract Quarter). 

 

	 	(d)	Should a compulsory license be granted, or be the subject of a possible grant, to a third party under the applicable laws, rules, regulations, guidelines, or other directives of any Government in the Territory under the
Patent Rights, the Party receiving notice thereof or otherwise becoming aware thereof shall promptly notify the other Party thereof including any material information concerning such compulsory license, and the total amount payable under
Section 3.2(a) with respect to sales of Licensed Products in such country will be adjusted to match any lower amount such third party may be allowed to pay with respect to the sales of such Licensed Products in such country, with such lower
amount subject to further adjustments pursuant to Sections 3.2(c) above. 

  

	 	(e)	Subject to any earlier termination of this Agreement, amounts due under Section 32(a) shall only be payable on a country-by-country and Licensed Product-by-Licensed Product basis for Licensed Products that are made
or sold in a particular country prior to the first date on which there are no Valid Claims of any Patent Right Covering such Product in such country, (such period for a particular Licensed Product in a particular country, the “Royalty
Term” for such Product in such country) 

  

	 	3.3.	Non-cash Consideration 

  

	 	    	If Licensee receives or anticipates receipt of non-cash consideration from Sales or Sublicenses, the manner in which Licensor will receive its compensation under the Agreement with respect to such non-cash consideration
will be negotiated in good faith and timely agreed to by the Parties. 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-12		Agreement No. PM1401601

	4.	Reports and Plans 

 The reports specified in this Section 4 will be sent to Licensor’s payment
and reporting contact identified in Section 18 (Notices) of the Patent License Agreement. Any special formatting requirements for such reports shall be mutually agreed upon in writing by Licensor and Licensee. 

 

	 	4.1.	Quarterly Payment and Milestone Reports 

  

	 	    	On or before each Quarterly Payment Deadline, Licensee will deliver to Licensor a true and accurate report, certified by an officer of Licensee, giving such particulars of the business conducted by Licensee, its
Affiliates and its Sublicensees (including copies of reports provided by Sublicensees and Affiliates to Licensee) during the preceding Contract Quarter under the Agreement as necessary for Licensor to account for Licensee’s payments hereunder,
even if no payments are due. The reports shall continue to be delivered after the termination or expiration of the Agreement until such time as all Licensed Products permitted to be sold after termination or expiration have been sold or destroyed.
Licensee shall provide information in sufficient detail to enable the royalties payable hereunder to be determined and to calculate all of the amounts payable under the Agreement. The report shall include: 

 

	 	(a)	The name of the Licensee, the Patent License Agreement number, and the period covered by the report; 

  

	 	(b)	The name of any Affiliates and Sublicensees whose activities are also covered by the report; 

  

	 	(c)	Identification of each Licensed Product for which any royalty payments have become payable; 

  

	 	(d)	Net Product Sales segregated on a product-by-product basis, and a country-by-country basis, or an affirmative statement that no Sales were made. The report shall also itemize the permitted deductions from the gross
revenue used to arrive at the resulting Net Product Sales on a product-by-product basis; 

  

	 	(e)	The applicable royalty rate; 

  

	 	(f)	An affirmative statement of whether any milestones with deadlines in that Contract Quarter under Section 2.4 and any milestones under Section 3.1(b) were met or not, and the resulting Milestone Fee payable;

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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	The University of Texas at Austin		Page A-13		Agreement No. PM1401601

	 	(g)	Non-Royalty Sublicensing Consideration received by Licensee segregated on a Sublicense-by-Sublicense basis, or an affirmative statement that none was received; 

 

	 	(h)	If any consideration was received in currencies other than U.S. dollars, the report shall describe the currency exchange calculations; and 

 

	 	(i)	Any changes in accounting methodologies used to account for and calculate the items included in the report since the previous report. 

 

	 	4.2.	Annual Written Progress Report and Commercialization Plan 

  

	 	    	Within 45 days following the end of each Contract Year until the year following the year in which the first commercial sale of a Licensed Product occurred , Licensee will deliver to Licensor a true and accurate written
progress report and commercialization plan, certified by an officer of Licensee, that summarizes (i) Licensee’s efforts and accomplishments during the Contract Year to diligently commercialize Licensed Products, and
(ii) Licensee’s development and commercialization plans with respect to Licensed Products for the next Contract Year. The report shall also cover such activities by Affiliates and Sublicensees. The report shall contain the following
information to the extent relevant to the activities under the Agreement: 

  

	 	(a)	The name of the Licensee, the Patent License Agreement number, the names of any Affiliates and Sublicensees, and the products and services being developed and/or commercialized; 

 

	 	(b)	The progress toward completing and the plans for completing the applicable milestone events pursuant to Sections 2.4 and 3.1(b); 

  

	 	(c)	The research and development activities, including status and plans for obtaining any necessary governmental approvals, performed during the past year, and the plans for research and development activities for the next
year; and 

  

	 	(d)	The marketing activities for the past year and planned for the next year, and Licensee’s internal estimate for sales for the next year. 

 

	5.	Payment, Records, and Audits 

  

	 	5.1.	Payments 

  

	 	    	All amounts referred to in the Patent License Agreement are expressed in U.S. dollars without deductions for taxes, assessments, fees, or charges of any kind. Each payment will reference the agreement number set forth
at the beginning of the Patent License Agreement. All payments to Licensor will be made in U.S 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
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dollars by check or wire transfer (Licensee to pay all wire transfer fees) payable to the payee identified in Section 18 of the Patent License Agreement and sent to the payment and reporting
contact in Section 18 (Notices) of the Patent License Agreement. 

  

	 	5.2.	Sales Outside the U.S. 

  

	 	    	If any currency conversion shall be required in connection with the calculation of payments hereunder, such conversion shall be made using the rate used by Licensee for its financial reporting purposes in accordance
with Generally Accepted Accounting Principles (or foreign equivalent) or, in the absence of such rate, using the average of the buying and selling exchange rate for conversion between the foreign currency and U.S. Dollars, for current transactions
as reported in The Wall Street Journal on the last business days of the Contract Quarter to which such payment pertains. Licensee may not make any tax withholdings from payments to Licensor, but Licensor agrees to supply to Licensee, upon written
request, appropriate evidence from appropriate U.S, governmental agencies showing that Licensor is a resident of the United States of America for purposes of the U.S. income tax laws and is tax-exempt under such income tax laws. 

 

	 	5.3.	Late Payments 

  

	 	    	Undisputed amounts that are not paid when due will accrue a late charge from the due date until paid, at a rate equal to 1.0% per month (or the maximum allowed by law, if less). 

 

	 	5.4.	Records 

  

	 	    	For a period of four years after the Contract Quarter to which the records pertain, Licensee agrees that it and its Affiliates and Sublicensees will each keep complete and accurate records of their Net Product Sales,
Milestone Fees, and Non-Royalty Sublicensing Consideration in sufficient detail to enable such payments to be determined and audited. 

  

	 	5.5.	Auditing 

  

	 	    	Licensee and its Affiliates will permit an independent certified public accountant designated by Licensor and approved by Licensee (which approval shall not be unreasonably withheld or delayed)„ at Licensor’s
expense, to examine books, ledgers, and records relating solely to amounts payable hereunder, during regular business hours, at Licensee’s or its Affiliate’s place of business, on at least 30 days advance notice, to the extent necessary to
verify any payment required under the Agreement. For each Sublicensee, Licensee shall obtain such audit rights for Licensor or itself. If Licensee obtains such audit rights for itself, it will promptly conduct an audit of the Sublicensee’s
records upon Licensor’ s request and at Licensors expense, and Licensee will furnish to Licensor a copy of the findings from such audit. No more than one audit of Licensee, each Affiliate, and each 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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Sublicensee shall be conducted under this Section 5.5 in any calendar year. If any amounts due. Licensor have been underpaid, then Licensee shall immediately pay Licensor the amount of such
underpayment plus accrued interest due in accordance with Section 5.3, If the amount of underpayment is equal to or greater than 5% of the total amount due for the records so examined, Licensee will pay the cost of such audit. Such audits may
if mutually agreed upon in writing by Licensor and Licensee, consist of a self-audit conducted by Licensee at Licensor’s expense and certified in writing by an authorized officer of Licensee. If the amounts due Licensor have been overpaid, the
balance of overpayment shall be credited toward the next payment of monies owed Licensor. All information examined pursuant to this Section 5.5 shall be deemed to be the Confidential Information of the Licensee. Further, whenever Licensee
and/or its Affiliates and Sublicensees has its books and records audited by an independent certified public accountant Licensee and/or its Affiliates and Sublicensees will within 30 days of the conclusion of such audit, provide Licensor with a
written statement of said auditor, setting forth the calculation of amounts due to Licensor over the time period audited, as determined from the books and records of the Licensee, Affiliate or Sublicensee; but said auditor does not need to give any
audit opinion with said statement. 

  

	6.	Patent Expenses and Prosecution 

  

	 	6.1.	Patent Expenses 

  

	 	    	Licensee shall reimburse Licensor for all past documented, out-of-pocket expenses incurred by Licensor for filing, prosecuting, enforcing, defending and maintaining Patent Rights and related patent searches through the
Effective Date of the Agreement, including those identified in Section 3.1(a) of the Patent License Agreement, and all such future expenses incurred by Licensor, for so long as, and in such countries as the Agreement remains in effect. Licensee
will reimburse such Patent expenses, within 30 days after Licensee’s receipt of an invoice, with such payment being made either directly to Prosecution Counsel or to Licensor, as elected by Licensor in writing on or before the date of the
applicable invoice. Patent expense payment delinquencies (whether owed directly to Prosecution Counsel or to Licensor) that are not in disputed in good faith will be considered a payment default under Section 7.3(a). 

 

	 	6.2.	Direction of Prosecution 

  

	 	    	Licensor will apply for, prosecute, and maintain during the term of this Agreement, the Patent Rights in the United States and in the foreign countries listed in Schedule 6.2 hereto. Licensor will confer with Licensee
to develop a strategy for the prosecution and maintenance of Patent Rights. Licensor will request that copies of all documents prepared by the Prosecution Counsel for submission to governmental patent offices be provided to Licensee for review and
comment prior to filing, to the extent practicable under the circumstances. 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-16		Agreement No. PM1401601

	 	Licensee will be given reasonable opportunities to advise Licensor in the filing, prosecution, and maintenance of Patent Rights. At Licensee’s request and reasonably in advance of any filing, fee, or other action
deadlines, Licensee shall be provided with copies of all prosecution documents relating to Patent Rights so that Licensee may have the opportunity to offer comments and remarks thereon, such comments and remarks to be given due consideration by
Licensor. At its discretion, Licensor may allow Licensee to instruct Prosecution Counsel directly, provided, that (a) Licensor will maintain final authority in all decisions regarding the prosecution and maintenance of the Patent Rights,
(b) Licensor may revoke this authorization to instruct Prosecution Counsel directly at any time, and (c) the Prosecution Counsel remains counsel to the Licensor with an appropriate contract (and shall not jointly represent Licensee unless
requested by Licensee and approved by Licensor, and an appropriate engagement letter and conflict waiver are in effect). If Licensee wishes to instruct Prosecution Counsel directly or change Prosecution Counsel, Licensee may request to do so by
following the Licensor’s procedures for such Licensor reserves in its sole, discretion the ability to change Prosecution Counsel and to approve or disapprove any requested changes by Licensee. The Parties agree that they share a common legal
interest to get valid enforceable patents and that Licensee will maintain as privileged all information received pursuant to this Section. 

  

	 	6.3.	Ownership 

  

	 	    	All patent applications and patents will be in the name of Licensor (and any co- owner identified in Section 1 of the Patent License Agreement) and owned by Licensor (and such co-owner, if any). No payments due
under the Agreement will be reduced solely as the result of co-ownership interests in the Patent Rights by Licensee or any other party. 

  

	 	6.4.	Additional Foreign Filings 

  

	 	    	If Licensee wishes to pursue patent protection in countries other than the U.S., and the foreign countries listed Schedule 62 hereto, then (i) Licensee shall notify Licensor in writing, subject to applicable bar
dates, of such foreign countries in sufficient time to reasonably enable the preparation of such additional filings, (ii) Licensor will apply for, prosecute, and maintain during the term of this Agreement, the Patent Rights in such foreign
countries, and (iii) Schedule 6.2 shall be automatically amended to include such foreign countries-. If Licensee notifies Licensor in writing that it does not choose to pursue patent, rights in a particular foreign country and Licensor chooses
to do so, Licensor shall so notify Licensee and thereafter said patent application or patent shall no longer be included in the Patent Rights and Licensee shall have no further rights thereto. 

 

	 	6.5.	Withdrawal from Paying Patent Costs 

  

	 	    	If at any time Licensee wishes to cease paying for any costs for a particular Patent 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
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Right or for patent prosecution in a particular jurisdiction, Licensee must give Licensor at least 90 days prior written notice and Licensee will continue to be obligated to pay for the patent
costs which reasonably accrue during said notice period. Thereafter, said patent application or patent shall no longer be included in the Patent Rights and Licensee shall have no further rights thereto. 

 

	 	6.6.	U.S. Patent and Trademark Office Entity Size Status 

  

	 	    	Licensee represents that as of the Effective Date the entity size status of Licensee in accordance with the regulations of the U.S. Patent and Trademark Office is as set forth in Section 1 of the Patent License
Agreement. Licensee will inform Licensor in writing on a timely basis of any change in its U.S. Patent and Trademark Office entity size status. 

  

	7.	Term and Termination 

  

	 	7.1.	Term 

  

	 	    	Unless earlier terminated as provided herein, the term of the Agreement will commence on the Effective Date and continue on a country-by-country and Licensed Product-by Licensed Product basis, until the expiration of
the Royalty Term for a particular Licensed Product in a particular country (with the entire Agreement expiring on the expiration of the last-to-expire Royalty Term). 

 

	 	7.2.	Termination by Licensee 

  

	 	    	Licensee, at its option, may terminate the Agreement by providing Licensor written notice of intent to terminate, which such termination effective will be 90 days following receipt of such notice by Licensor.

  

	 	7.3.	Termination by. Licensor 

  

	 	    	Licensor, at its option, may immediately terminate the Agreement, or any part of Patent Rights, or any part of Field, or any part of Territory, or the exclusive nature of the license grant, upon delivery of written
notice to Licensee of Licensor’s decision to terminate, if any of the following occur: 

  

	 	(a)	Licensee becomes in arrears in any payments due under the Agreement, and Licensee fails to make the required payment within 30 days after delivery of written notice from Licensor; or 

 

	 	(b)	Licensee is in breach of any non-payment provision of the Agreement, and does not cure such breach within 60 days after delivery of written notice from Licensor; or 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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	 	(c)	Licensor delivers notice to Licensee of three or more [***] breaches of the Agreement in any nine (9) month period, even in the event that Licensee cures such breaches in the allowed period, [***]; or

  

	 	(d)	Licensee or its Affiliate or Sublicensee participates in any proceeding or action to challenge the validity, enforceability, or scope of one or more of the Patent Rights. Provided however, this section shall not be
applicable in the context of a Sublicensee or Affiliate defending against a patent infringement suit initiated by licensor, or if Licensee terminates a Sublicensee (in the event Sublicensee sues Licensor) within 30 days of receiving notice from
Licensor that they are being sued by the Sublicensee. 

  

	 	7.4.	Other Conditions of Termination 

  

	 	    	The Agreement will terminate: 

  

	 	(a)	Immediately without the necessity of any action being taken by Licensor or Licensee, (i) if Licensee files for bankruptcy under Chapter 7 or Chapter 11 of the U.S. Bankruptcy Act or becomes insolvent, or
(ii) Licensee’s Board of Directors elects to liquidate its assets or dissolve its business, or (iii) Licensee makes an assignment for the benefit of creditors or (iv) if the business or assets of Licensee are otherwise placed in
the hands of a receiver, assignee for the protection of creditors or trustee, whether by voluntary act of Licensee or otherwise; or 

  

	 	(b)	At any time by mutual written agreement between Licensee and Licensor. 

  

	 	7.5.	Effect of Termination 

  

	 	    	If the Agreement is terminated for any reason: 

  

	 	(a)	If a Sublicensee is in good standing under its Sublicense Agreement without any uncured defaults that would otherwise have entitled the Licensee to terminate such Sublicense, the Sublicensee may request Licensor to
grant a direct license to the Sublicensee on comparable terms; which request must be in writing and received by Licensor not later than thirty (30) days after any termination of the Agreement. If Licensor determines that the Sublicensee is well
qualified to continue as a direct licensee, Licensor will not unreasonably withhold consent for such request; in which event, said Sublicensee and Licensor will enter into a new mutually approved written license agreement that endeavors to preserve
the essential benefits for each party that they enjoyed under the prior Agreement and Sublicense Agreement For the avoidance of doubt, during the period between the termination of the Agreement and the date 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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on which such a mutually approved written license agreement is consummated between the Sublicensee and Licensor, the Sublicense shall be deemed to continue with the Licensor directly. If no such
mutually approved written license agreement is consummated between the Sublicensee and Licensor, the Sublicense shall be deemed to be terminated. 

  

	 	(b)	Licensee shall cease making, having made, distributing, having distributed, using, selling, offering to sell, leasing, loaning and importing any licensed Products by the effective date of termination; and

  

	 	(c)	Licensee shall tender payment of all accrued royalties and other payments due to Licensor in accordance with the payment terms hereof; and 

 

	 	(d)	Nothing in the Agreement will be construed to release either Party from any obligation that matured prior to the effective date of termination; and 

 

	 	(e)	The provisions of Sections 8 (Confidentiality), 9 (Infringement and Litigation), 11 (Representations and Disclaimers), 12 (Limit of Liability), 13 (Indemnification), 14 (Insurance), 17 (Use of Name), 18 (Notices), and
19 (General Provisions) will survive any termination or expiration of the Agreement In addition, the provisions of Sections 3 (Compensation), 4.1 (Quarterly Payment and Milestone Reports), 5 (Payment, Records and Audits), and 6.1 (Patent Expenses)
shall survive with respect to all activities and payment obligations accruing prior to the termination or expiration of the Agreement. 

  

	8.	Confidentiality 

  

	 	8.1.	Definition 

  

	 	    	“Confidential Information” means all information that is of a confidential and proprietary nature to Licensor or Licensee and provided by one Party to the other Party under the Agreement. 

 

	 	8.2.	Protection and Marking 

  

	 	    	Licensor and Licensee each agree that all Confidential Information disclosed in tangible form, and marked “confidential” and forwarded to one by the other, or if disclosed orally, is designated as confidential
at the time of, disclosure: (i) is to: be held in strict confidence by the receiving Party, (ii) is to be used by and under authority of the receiving Party only as authorized in the Agreement, and (iii) shall not be disclosed by the
receiving Party, its agents or employees without the prior written consent of the disclosing Party or as authorized in the Agreement. Licensee has the right to use and disclose Confidential Information of Licensor reasonably 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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in connection with the exercise of its rights under the Agreement, including without limitation disclosing to Affiliates, Sublicensees, potential investors, acquirers, and others on a need to
know basis, if such Confidential Information is provided under conditions which reasonably protect the confidentiality thereof. Each Party’s obligation of confidence hereunder includes, without limitation, using at least the same degree of care
with the disclosing Party’s Confidential Information as it uses to protect its own Confidential Information, but always at least a reasonable degree of care. 

 

	 	8.3.	Confidentiality of Terms of Agreement 

  

	 	    	Each Party agrees not to disclose to any third party the terms of the Agreement without the prior written consent of the other Party hereto, except each Party may disclose the terms of the Agreement: (a) to
advisors, actual or potential Sublicensees, acquirers or investors, and others on a need to know basis, in each case, under appropriate confidentiality obligations substantially similar to those of this Section 8; and (b) to the extent
necessary to comply with applicable laws and court orders (including, without limitation, The Texas Public Information Act, as may be amended from time to time, other open records laws, decisions and rulings, and securities laws, regulations and
guidance). If the Agreement is not for all fields of use then Licensor may disclose the Field to other potential third party licensees. Notwithstanding the foregoing, the existence of the Agreement shall not be considered Confidential Information.

  

	 	8.4.	Disclosure Required by Court Order or Law 

  

	 	    	If the receiving Party is required to disclose Confidential Information of another Party hereto, or any terms of the Agreement pursuant to the order or requirement of a court, administrative agency, or other
governmental body or applicable law, the receiving Party may disclose such Confidential Information or terms to the extent required, provided that the receiving Party shall use reasonable efforts to provide the disclosing Party with reasonable
advance notice thereof to enable the disclosing. Party to seek a protective order and otherwise seek to prevent such disclosure. To the extent that Confidential Information so disclosed does not become part of the public domain by virtue of such
disclosure, it shall remain Confidential Information protected pursuant to Section 8. 

  

	 	8.5.	Copies 

  

	 	    	Each Party agrees not to copy or record any of the Confidential Information of the other Party, except as reasonably necessary to exercise its rights or perform its obligations under the Agreement, and for archival and
legal purposes. 

  

	 	8.6.	Continuing Obligations 

  

	 	    	Subject to the exclusions listed in Section 8.7, the Parties’ confidentiality obligations under the Agreement will survive termination of the Agreement and will continue for a period of five years thereafter.

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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	 	8.7.	Exclusions 

  

	 	    	Information shall not be considered Confidential Information of a disclosing Party under the Agreement to the extent that the receiving Party can establish by competent written proof that such information:

  

	 	(a)	Was in the public domain at the time of disclosure; or 

  

	 	(b)	Later became part of the public domain through no act or omission of the recipient Party, its employees, agents, successors or assigns in breach of the Agreement; or 

 

	 	(c)	Was lawfully disclosed to the recipient Party by a third party having the right to disclose it not under an obligation of confidentiality; or 

 

	 	(d)	Was already known by the recipient Party at the time of disclosure; or 

  

	 	(e)	Was independently developed by the recipient Party without use of the disclosing Party’s Confidential Information. 

  

	 	8.8.	Copyright Notice 

  

	 	    	The placement of a copyright notice on any Confidential Information will not be construed to mean that such information has been published and will not release the other Party from its obligation of confidentiality
hereunder 

  

	9.	Infringement and Litigation 

  

	 	9.1.	Notification 

  

	 	    	If either Licensors designated office for technology commercialization or Licensee becomes aware of any alleged, potential or actual infringement of Patent Rights, each Party shall promptly notify the other of such in
writing. Within two (2) business days of such notification (the “SRA Notice Period”), Licensor agrees to notify Licensee in writing if the infringing party is a party to a sponsored research agreement with the Licensor [***].

  

	 	9.2.	Licensee’s Enforcement Rights 

  

	 	    	With respect to any actual, potential, or alleged infringement of the Patent Rights, which shall include, to the extent permitted under applicable law, Licensee shall have the first and primary right, but not the
obligation, to at its expense, initiate, prosecute, and control any action or legal proceedings, and/or enter into a settlement, including any declaratory judgment action, with respect thereto. In the event Licensor provides Licensee with an SRA
Notice during the SRA Notice 

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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Period, Licensee shall not file an infringement lawsuit against the third party identified in such SRA Notice for at least [***] from the date of such SRA Notice. In any such litigation brought
by Licensee, Licensee shall have the right to use and sue in Licensor’s name and join Licensor as a party to such litigation, only with the prior written consent of Licensor; and Licensor shall cooperate reasonably with respect thereto, as
requested and expense of Licensee. It within one hundred eighty (180) Calendar Days of the notice in Section 9.1, Licensee shall not have brought and shall not be diligently prosecuting an infringement or other action with respect to such
actual, potential, or alleged infringement, then Licensor shall have the right, at its expense, to bring suit to enforce such. Patent Rights against such actual, alleged, or potential infringer, at its own expense, unless Licensee has provided
Licensor with a mutually agreeable reasonable strategic rationale for not taking action to terminate such actual, potential, or alleged infringement, not to be unreasonably denied Notwithstanding the foregoing, Licensor shall not, and shall not
permit any third party to proceed against an alleged infringer of the Patent Rights in the Territory (1) unless significant damages are reasonably expected to be recovered from the infringer in such proceeding and (2) without first
consulting with Licensee regarding the strategy for such proceeding and considering in good faith Licensee’s comments regarding such proceeding. 

  

	 	9.3.	Litigation Control. The Party pursuing or controlling any action or defense under Section 9.2 (the ‘Controlling Party”) shall be free to enter into a settlement, consent judgment, or other
voluntary disposition of any such action or defense, provided, however, that (i) the Controlling Party shall consult with the other Party (the “Secondary Party”) prior to entering into any settlement or voluntary disposition thereof,
(ii) any settlement, consent judgment or other voluntary disposition of such actions which (1) subjects the Secondary Party to any non-indemnified liability or obligation or (2) admits fault or wrongdoing on the part of Secondary
Party must, in each case, be approved in advance and in writing by the Secondary Party, (iii) any settlement consent judgment or other voluntary disposition of such actions which materially limits the scope, validity, or enforceability of, or
otherwise may adversely affect, any Licensor Patents shall not be entered into, consented to, approved, or agreed upon without the other Party’s prior written approval, and (iv) any settlement, consent judgment or other voluntary
disposition of such actions that would reasonably be expected to materially adversely affect the Patent Rights or the ability of Licensee to manufacture, use, market or sell Licensed Products shall not be, entered into, consented to, approved, or
agreed upon without Licensee’s prior written consent. With respect to clause (ii) or (iii) above in this Section 93, the Secondary Party shall provide the Controlling Party notice of its approval or denial of such approval within
[***] Business Days of any request for such approval by the Controlling Party, provided that (X) in the event Secondary Party wishes to deny such approval, such notice shall include a written description summarizing the 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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Secondary Party’s reasonable objections to the proposed settlement consent judgment or other voluntary disposition and (Y) Secondary Party shall be deemed to have approved such proposed
settlement, consent judgment, or other voluntary disposition in the event it fails to provide such notice within such [***] Business Day period. 

  

	 	9.4.	Sharing Net Recovery. Any recovery or damages received by the Controlling Party with respect to the infringement of the rights to Licensor Patents granted under this Agreement, or in settlement of any
matter subject to Section 9.2. shall (I) first be used to reimburse the Parties for unreimbursed reasonable, documented expenses (excluding, with respect to any costs or expenses incurred by Licensor, compensation of any employees or
consultants of Licensor or any Affiliate thereof) incurred in connection with such action or settlement, and the remainder shall be split [***] to Controlling Party and [***] to Secondary Party Notwithstanding the foregoing, the Secondary Party, at
its expense, shall have the right to be represented by counsel of its choice in any proceeding governed by this Section 91. 

  

	10.	Export Compliance 

  

	    	Licensee understands that the Arms Export Control Act (AECA), including its implementing International Traffic In Arms Regulations (ITAR), and the Export Administration Act (EAA), including its Export Administration
Regulations (EAR), are some (but not all) of the laws and regulations that comprise the U.S. export laws and regulations. Licensee further understands that the U.S. export laws and regulations include (but are not limited to): (a) ITAR and EAR
product/service/data-specific requirements; (b) ITAR and EAR ultimate destination-specific requirements; (c) ITAR and EAR end user-specific requirements; (d) Foreign Corrupt Practices Act; and (e) anti- boycott laws and
regulations. Licensee will comply with all then-current applicable export laws and regulations of the U.S. Government (and other applicable US. laws and regulations) pertaining to the Licensed Products (including any associated products, items,
articles, computer software, media, services, technical data and other information). Licensee certifies that it will not, directly or indirectly, export (including any deemed export), nor re-export (including any deemed re-export) the Licensed
Products (including any associated products, items, articles, computer software, media, services, technical data and other information) in violation of applicable U.S. laws and regulations. Licensee will include a provision in its agreements,
substantially similar to this Section 10, with its Sublicensees, third party wholesalers and distributors, and physicians, hospitals or other healthcare providers who purchase a Licensed Product, requiring that these parties comply with all
then-current applicable US, export laws and regulations and other applicable U.S. laws and regulations. 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
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	11.	Representations and Disclaimers 

  

	 	11.1.	Licensor Representations 

  

	 	    	Except for the rights, if any, of the Government as set forth in Section 11.2, Licensor represents and warrants to Licensee that to the knowledge of Licensor’s Office of Technology Commercialization
(i) Licensor is the owner or agent of the entire right, title, and interest in and to Patent Rights (other than the right, title and interest of any joint owner identified in Section 1 of the Patent License Agreement), (ii) Licensor
has the right to grant licenses hereunder, (iii) Licensor has not knowingly granted and will not knowingly grant licenses or other rights under the Patent Rights that are in conflict with the terms and conditions in the Agreement,
(iv) Licensor’s execution and performance of this Agreement will not result in a breach of any other contract to which it is, or will become, a party, and (v) OTC has not received any written notification, alleging that the Patent Rights
are invalid or unenforceable or that the exercise by Licensee of any rights granted hereunder will infringe on or constitute misappropriation of any patent or other proprietary right of any third party. 

 

	 	11.2.	Government Rights 

  

	 	    	Licensee understands that Patent Rights may have been developed under a funding agreement with Government and, if so, that Government may have certain rights relative thereto. The Agreement is made subject to the
Government’s rights under any such agreement and under, any applicable Government law or regulation. To the extent that there is a conflict between any such agreement, such applicable law or regulation and the Agreement, the terms of such
Government agreement, and applicable law or regulation, shall prevail. Licensee agrees that, to the extent required by U.S. laws and regulations, Licensed Products used or sold in the U.S. will be manufactured substantially in the U.S., unless a
written waiver is obtained in advance from the U.S. Government. 

  

	 	11.3.	Licensor Disclaimers 

  

	 	    	EXCEPT AS SPECIFICALLY SET FORTH IN SECTION 11.1, LICENSEE UNDERSTANDS AND AGREES THAT LICENSOR MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, AS TO THE LICENSED
PRODUCTS OR LICENSED SERVICES, OR AS TO THE OPERABILITY OR FITNESS FOR ANY USE OR PARTICULAR PURPOSE, MERCHANTABILITY, SAFETY, EFFICACY, APPROVABILITY BY REGULATORY AUTHORITIES, TIME AND COST OF DEVELOPMENT, PATENTABILITY, AND/OR BREADTH OF PATENT
RIGHTS. LICENSOR MAKES NO REPRESENTATION AS TO WHETHER ANY PATENT WITHIN PATENT RIGHTS IS VALID, OR AS TO WHETHER THERE ARE ANY PATENTS NOW HELD, OR WHICH WILL BE HELD, BY OTHERS OR BY 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
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LICENSOR THAT MIGHT BE REQUIRED FOR USE OF PATENT RIGHTS IN FIELD. NOTHING IN THE AGREEMENT WILL BE CONSTRUED AS CONFERRING BY IMPLICATION, ESTOPPEL OR OTHERWISE ANY LICENSE OR RIGHTS TO ANY
PATENTS OR TECHNOLOGY OF LICENSOR OTHER THAN THE PATENT RIGHTS, WHETHER SUCH PATENTS ARE DOMINANT OR SUBORDINATE TO THE PATENT RIGHTS. LICENSOR HAS NO OBLIGATION TO FURNISH TO LICENSEE ANY KNOW-HOW, TECHNOLOGY OR TECHNOLOGICAL INFORMATION.

  

	 	11.4.	Licensee Representation 

  

	 	    	By execution of the Agreement, Licensee represents, acknowledges, covenants and agrees (a) that Licensee has not been induced in any way by Licensor or its employees to enter into the Agreement, and (b) that
Licensee has been given an opportunity to conduct sufficient due diligence with respect to all items and issues pertaining to this Section 11 (Representations and Disclaimers) and all other matters pertaining to the Agreement; and (c) that
Licensee has adequate knowledge and expertise, or has utilized knowledgeable and expert consultants, to adequately conduct the due diligence, and (c) that Licensee accepts all risks inherent herein. Licensee represents that it is a duly
organized, validly existing entity of the form indicated in Section 1 of the Patent License Agreement, and is in good standing under the laws of its jurisdiction of organization as indicated in Section 1 of the Patent License Agreement and has
all necessary corporate or other appropriate power and authority to execute, deliver and perform its obligations hereunder. 

  

	12.	Limit of Liability 

  

	    	IN NO EVENT SHALL. LICENSOR, THE UNIVERSITY SYSTEM IT GOVERNS, ITS MEMBER INSTITUTIONS, INVENTORS, REGENTS, OFFICERS, EMPLOYEES, STUDENTS, AGENTS OR AFFILIATED ENTERPRISES (COLLECTIVELY, “LICENSOR COVERED
PARTIES”), BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS OR REVENUE) ARISING OUT OF OR IN CONNECTION WITH THE AGREEMENT OR ITS SUBJECT
MATTER, REGARDLESS OF WHETHER ANY SUCH PARTY KNOWS OR SHOULD KNOW OF THE POSSIBILITY OF SUCH DAMAGES. 

  

	    	OTHER THAN FOR CLAIMS AGAINST LICENSEE FOR INDEMNIFICATION PROVIDED UNDER SECTION 13 WITH RESPECT TO THIRD PARTY CLAIMS, IN NO EVENT SHALL LICENSEE, ITS AFFILIATES OR SUBLICENSEES BE LIABLE TO LICENSOR COVERED PARTIES
FOR ANY INDIRECT, SPECIAL INCIDENTAL, CONSEQUENTIAL EXEMPLARY OR PUNITIVE DAMAGES 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
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(INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS OR REVENUE) ARISING OUT OF OR IN CONNECTION WITH THE AGREEMENT OR ITS SUBJECT MATTER, REGARDLESS OF WHETHER LICENSEE KNOWS OR SHOULD
HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. 

  

	13.	Indemnification 

  

	 	13.1.	Indemnification Obligation 

  

	 	    	Subject to Section 132, Licensee agrees to hold harmless, defend and indemnify Licensor, the university system it governs, its member institutions, its Regents, officers, employees, students and agents (the
“Indemnified Parties”, or an “Indemnified Party”) from and against any liabilities, damages, causes of action, suits, judgments, liens, penalties, fines, losses, costs and expenses (including, without limitation, reasonable
attorneys’ fees and other expenses of litigation) (collectively “Liabilities”) resulting from claims or demands brought by third parties against an Indemnified Party on account of any injury or death of persons, damage to property, or
any other damage or loss arising out of the exercise or practice by or under authority of Licensee, its Affiliates or their Sublicensees, or third party wholesalers or distributors, or physicians, hospitals or other healthcare providers who purchase
a Licensed Product, of the rights granted hereunder. 

  

	 	13.2.	Conditions of Indemnification 

  

	 	    	Licensee shall have no responsibility or obligation under Section 13.1 for any Liabilities to the extent caused by the gross negligence or willful misconduct by an Indemnified Party. Obligations to indemnify, and
hold harmless under Section 13.1 are subject to (a) to the extent authorized by the Texas Constitution and the laws of the State of Texas, and subject to the statutory duties of the Texas Attorney General, the Indemnified Party giving
Licensee control of the defense and settlement of the claim and demand; and (b) to the extent authorized by the Texas Constitution and the laws of the State of Texas and subject to statutory duties of the Texas Attorney General, the Indemnified
Party providing assistance reasonably requested by Licensee, at Licensee’s expense. 

  

	14.	Insurance 

  

	 	14.1.	Insurance Requirements 

  

	 	    	Prior to any Licensed Product being used in humans or sold (including for the purpose of obtaining regulatory approvals), by Licensee, an Affiliate, or by a Sublicensee, and for a period of five years after the
Agreement expires or is terminated, Licensee shall, at its sole cost and expense, procure and maintain commercial general liability insurance or an equivalent program of self-insurance in commercially reasonable and appropriate amounts for the
Licensed Product being used or sold. Licensee shall use commercially reasonable efforts to have 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
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Licensor named as an additional insured party. Such commercial general liability insurance shall provide, without limitation: (I) product liability coverage; (ii) broad form contractual
liability coverage for Licensee’s indemnification under the Agreement; and (iii) coverage for litigation costs. 

  

	 	14.2.	Evidence of Insurance and Notice of Changes 

  

	 	    	Upon request by Licensor, Licensee shall provide Licensor with written evidence of such insurance. Additionally, Licensee shall provide Licensor with written notice of at least 30 days prior to Licensee cancelling, not
renewing, or materially changing such insurance. 

  

	15.	Assignment 

  

	    	The Agreement may not be assigned by Licensee without the prior written consent of Licensor, which consent will not be unreasonably withheld; provided, however, that Licensee shall be permitted to assign this Agreement
to (i) any of its Affiliates and [***] A merger or other transaction (excluding equity financings of Aeglea BioTherapeutics Holdings, LLC and its Affiliates) in which the equity holders of Licensee prior to such event hold less than a majority
of the equity of the surviving or acquiring entity shall be considered an assignment of the Agreement. For any permitted assignment to be effective, (a) the Licensee must be in good standing under this Agreement, (b) the assignment fee
shall be payable as specified in Section 3,1(e) of the Agreement (c) the assignee must assume in writing all of Licensee’s interests, rights, duties and obligations under the Agreement and agree to comply with all terms and conditions
of the Agreement as if the assignee were an original Party to the Agreement (d) provide written notice to the Licensor of such assignment no less than 15 days after completion of such assignment Any such assignment must be of all rights and
obligations of Licensee, such that there is only one existing Licensee at any one time. 

  

	16.	Governmental Markings 

  

	 	16.1.	Patent Markings 

  

	 	    	To the extent reasonably practical, Licensee agrees to mark, and shall use commercially reasonable efforts to ensure that its Affiliates, licensees, and sublicensees mark, all Licensed Products with the number of any
applicable patent(s) licensed hereunder as part of the Patent Rights in accordance with each country’s patent marking laws, including Title 35, U.S. Code, or if such marking is not practicable, shall so mark the accompanying outer box or
product insert for Licensed Products accordingly. 

  

	 	16.2.	Governmental Approvals and Marketing of licensed Products 

  

	 	    	Licensee will be responsible for obtaining all necessary Governmental approvals for the development production, distribution, sale, and use of any Licensed 

 
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-28		Agreement No. PM1401601

	 	
Product, at Licensee’s expense, including, without limitation, any safety studies, Licensee will have sole responsibility for any warning labels, packaging and instructions as to the use and
the quality control for any Licensed Product. 

  

	 	16.3.	Foreign Registration and Laws 

  

	 	    	Licensee agrees to register the Agreement with any foreign governmental agency that requires such registration; and Licensee will pay all costs and legal fees in connection with such registration. Licensee is
responsible for compliance with all foreign laws affecting the Agreement or the Sale of Licensed Products to the extent there is no conflict with United States law, in which case, United States law will control. 

 

	17.	Use of Name 

  

	    	Licensee will not use the name, trademarks or other marks of Licensor (or the name of the university system it governs, its member institutions; any of its Regents or employees) without the advance written consent of
Licensor; provided however, in connection with describing the Agreement to existing and prospective investors and Sublicensees, Licensee may identify Licensor’s name as the licensor. Licensor may use Licensee’s name and logo for annual
reports, brochures, website, and internal reports without prior consent. 

  

	18.	Notices 

  

	    	Any notice or other communication of the Parties required or permitted to be given or made under the Agreement will be in writing and will be deemed effective when sent in a manner that provides confirmation or
acknowledgement of delivery and received at the address set forth in Section 18 of the Patent License Agreement (or as changed by written notice pursuant to this Section 18). Notices required under the Agreement may be delivered via E-mail
provided such notice is confirmed in writing as indicated. 

  

	    	Notices shall be provided to each Party as specified in the “Contact for Notice” address set forth in Section 18 of the Patent License Agreement. Each Party shall update the other Party in writing with
any changes in such contact information. 

  

	19.	General Provisions 

  

	 	19.1.	Binding Effect 

  

	 	    	The Agreement is binding upon and inures to the benefit of the Parties hereto, their respective executors, administrators, heirs, permitted assigns, and permitted successors in interest. 

 

	 	19.2.	Construction of Agreement 

  

	 	    	Headings are included for convenience only and will not be used to construe the 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-29		Agreement No. PM1401601

	 	
Agreement. The Parties acknowledge and agree that both Parties substantially participated in negotiating the provisions of the Agreement; therefore, both Parties agree that any ambiguity in the
Agreement shall not be construed more favorably toward one Party than the other Party, regardless of which Party primarily drafted the Agreement. 

  

	 	19.3.	Counterparts and Signatures 

  

	 	    	The Agreement 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. A Party may evidence its execution and
delivery of the Agreement by transmission of a signed copy of the Agreement via facsimile or email. 

  

	 	19.4.	Compliance with Laws 

  

	 	    	Licensee will comply with all applicable federal, state and local laws and regulations, including, without limitation, all export laws and regulations. 

 

	 	19.5.	Governing Law 

  

	 	    	The Agreement will be construed and enforced in accordance with laws of the U.S. and the State of Texas, without regard to choice of law and conflicts of law principles. 

 

	 	19.6.	Modification 

  

	 	    	Any modification of the Agreement will be effective only if it is in writing and signed by duly authorized representatives of both Parties. No modification will be made by email communications. 

 

	 	19.7.	Severability 

  

	 	    	If any provision hereof is held to be invalid, illegal or unenforceable in any jurisdiction, the Parties hereto shall negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects
the original intent of the Parties, and all other provisions hereof shall remain in full force and effect in such jurisdiction and shall be construed in order to carry out the intentions of the Parties hereto as nearly as may be possible. Such
invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of such other provisions in any other jurisdiction, so long as the essential essence of the Agreement remains enforceable. 

 

	 	19.8.	Third Party Beneficiaries 

  

	 	    	Nothing in the Agreement, express or implied, is intended to confer any benefits, rights or remedies on any entity, other than the Parties and their permitted successors and assigns. However, if there is a joint owner
of any Patent Rights identified in Section 1 of the Patent License Agreement (other than Licensee), then 

  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-30		Agreement No. PM1401601

	 	
Licensee hereby agrees that the following provisions of these Terms and Conditions extend to the benefit of the co- owner identified therein (excluding the Licensee to the extent it is a
co-owner) as if such co-owner was identified in each reference to the Licensor but only if such co-owner is bound by all of Licensor’s obligations under this Agreement: the retained rights under clause (b) of Section 2.1;
Section 113 (Licensor Disclaimers); Section 12 (Limitation of Liability); Section 13 (Indemnification); Section 14.1 (Insurance Requirements); Section 17 (Use of Name); and Section 19.10 (Sovereign Immunity, if
applicable). 

  

	 	19.9.	Waiver 

  

	 	    	Neither Party will be deemed to have waived any of its rights under the Agreement unless the waiver is in writing and signed by such Party. No delay or omission of a Party in exercising or enforcing a right or remedy
under the Agreement shall operate as a waiver thereof. 

  

	 	19.10.	Sovereign Immunity 

  

	 	    	Nothing in the Agreement shall be deemed or treated as any waiver of Licensor’s sovereign immunity. 

  

	 	19.11.	Entire Agreement 

  

	 	    	The Agreement constitutes the entire Agreement between the Parties regarding the subject matter hereof, and supersedes all prior written or verbal agreements, representations and understandings relative to such matters.

  

	 	19.12.	Claims Against Licensor for Breach of Agreement 

  

	 	    	Licensee acknowledges that any claim for breach of the Agreement asserted by Licensee against Licensor shall be subject to Chapter 2260 of the Texas Government Code and that the process provided therein shall be
Licensee’s sole and exclusive process for seeking a remedy for any and all alleged breaches of the Agreement by Licensor or the State of Texas. 

  

	 	19.13.	Grant of Security Interest 

  

	 	    	Licensee hereby grants to Licensor a security interest in and to Licensee’s rights under the Patent License Agreement, as collateral security for the payment by Licensee of any and all sums which may be owed from
time to time by Licensee to Licensor. Licensor shall have all rights of a secured party as specified in the Texas Uniform Commercial Code relative to this security interest and the enforcement thereof. Licensee hereby authorizes Licensor to file
with the appropriate governmental agencies appropriate UCC-1 financing statements to evidence this security interest. 

 END OF
EXHIBIT A 
  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information. 

  

					
	Licensee: AEMase Inc.		CONFIDENTIAL		Exclusive PLA
	The University of Texas at Austin		Page A-31		Agreement No. PM1401601

 SCHEDULE 6.2 

FOREIGN COUNTRIES FOR PATENT FILINGS 
  

 
 [***]Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect
to this information. 

 SCHEDULE 20.2 
  

Patents 
  

			
	“Compositions of Engineered Human Arginases and Methods for Treating Cancer”
	Serial No. 8,440,184		United States

 Patent Applications 
  

			
	“Arginase formulations and methods”
	Serial No. 13/380,776		United States
	Serial No. PCT/US2010/040205		International
	Serial No. 61/221,396		United States
	Serial No. 10800270.0 (Publication No. EP2449102)		European Patent Office
	Serial No. 12111085.9		Hong Kong
	Serial No. 2012-517824		Japan
	Serial No. 2,766,039		Canada
	“Engineered Enzymes with Methionine-Gamma-Lyase Enzymes and Pharmacological Preparations Thereof”		 
	Serial No. 61/301,368		United States
	Serial No. 13/020,268		United States
	Serial No. PCT/US2011/023606		International
	Serial No. 2011212885		Australia
	Serial No. 2,788,689		Canada
	Serial No. 201180013307.X		China
	Serial No. 11740355		European Patent Office
	Serial No. 2012-552084		Japan
	Serial No. 10-2012-7023176		Republic of Korea
	Application No. 13106011,7 (GGE0,13004CHK)		Hong Kong
	 “Compositions of Engineered Human
Arginases and Methods for Treating Cancer”
		 
	Serial No. 12/610,685		United States
	Serial No. 61/110,218		United States
	Application No. 13/863,448 (GGEO.P002US.C1)		United States
	Serial No. PCT/US2009/062969		International
	Serial No. 09824219.1 (Publication No. EP2350273)		European Patent Office
	Serial No. 12100429.7		Hong Kong
	Serial No. 2,742,497		Canada
	Serial No. 2011-534855 (Publication No. JP2012507301)		Japan
	Application No. 2013-241687 (GGEO.P002US.C1)		Japan
	“Engineering of L-Cysteine/L-Cystine Degrading Enzymes for Therapeutic Purposes”		 
	Serial No. 61/871,727		United States

  
  

[***]Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Confidential treatment has been requested with respect to this information.EX-10.16

 Exhibit 10.16 

CEO SERVERANCE AGREEMENT 

This CEO Severance Agreement (the “Agreement”) is entered into as of July 7, 2015 (the “Effective Date”) by
and between David G. Lowe, Ph.D. (the “Executive”) and Aeglea BioTherapeutics, Inc., a Delaware corporation (the “Company”). 

1.         Term of Agreement. 

Except to the extent renewed as set forth in this Section 1, this Agreement shall terminate the earlier of the third (3rd) anniversary of the
Effective Date (the “Expiration Date”) or the date the Executive’s employment with the Company or its subsidiary, as applicable, terminates for a reason other than a Qualifying Termination or CIC Qualifying Termination;
provided however, if a definitive agreement relating to a Change in Control has been signed by the Company on or before the Expiration Date, then this Agreement shall remain in effect through the earlier of: 

(a)         The date the Executive’s employment with the Company or its subsidiary, as
applicable, terminates for a reason other than a Qualifying Termination or CIC Qualifying Termination, or 
 (b)
        The date the Company or its subsidiary, as applicable, has met all of its obligations under this Agreement following a termination of the Executive’s employment with the Company or its subsidiary,
as applicable, due to a Qualifying Termination or CIC Qualifying Termination. 
 This Agreement shall renew automatically and continue in
effect for three (3) year periods measured from the initial Expiration Date, unless the Company or its subsidiary, as applicable, provides Executive notice of non-renewal at least three (3) months prior to the date on which this Agreement would
otherwise renew. For the avoidance of doubt, and notwithstanding anything to the contrary in Section 2 or 3 below, the Company’s non-renewal of this Agreement shall not constitute a Qualifying Termination or CIC Qualifying Termination. 

2.         Qualifying Termination. If the Executive is subject to a Qualifying Termination, then, subject to
Sections 4, 9, and 10 below, Executive will be entitled to the following benefits: 
 (a)
        Severance Benefits. The Company or its subsidiaries shall provide the Executive with severance benefits in the form of continuation of his monthly base salary (at the rate in effect
immediately prior to the actions that resulted in the Qualifying Termination) until the lesser of (i) twelve (12) months following Executive’s Separation, or (ii) the date that Executive obtains comparable employment with another employer. The
severance benefits shall be paid through salary continuation in equal installments in accordance with the Company’s or its subsidiary’s, as applicable, standard payroll procedures, with the initial payment to occur on the first payroll
date following the sixtieth (60th) day following the Separation, with the first installment to include a catchup payment for amounts covering the period from the date of Separation through the first payment date, provided that the Release
Conditions have been satisfied. However, if the period comprising the sum of the sixty (60)-day period described in the preceding sentence and the ten (10)-day period described in Section 7(e)(3) below spans two calendar years, then the payments
which constitute deferred compensation subject to Section 409A will not in any case commence in the first calendar year. The period between the date of Executive’s Separation and final severance payment shall be referred to herein as the
“Severance Period.” 
 (b)         Continued Employee Benefits. If Executive
timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company or its subsidiary shall pay the full amount of Executive’s COBRA premiums on behalf of the Executive for the
Executive’s continued coverage under the Company’s or its subsidiary’s, as applicable, health, dental and vision plans, including coverage for the Executive’s eligible dependents, for the Severance Period. Notwithstanding the
foregoing, if the Company, in its sole discretion, determines that it cannot provide the foregoing subsidy of COBRA coverage without potentially violating or causing the Company or its subsidiary to incur additional

 
expense as a result of noncompliance with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company or its subsidiary instead shall provide to
Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue the group health coverage in effect on the date of the Separation (which amount shall be based on the premium for
the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence on the later of (i) the first day of the month following the month in which Executive experiences
a Separation and (ii) the effective date of the Company’s determination of violation of applicable law, and shall end on the earlier of (x) the effective date on which Executive becomes covered by a health, dental or vision insurance plan of a
subsequent employer, and (y) the last day of the Severance Period, provided that, any taxable payments under this Section 2(b) will not be paid before the first business day occurring after the sixtieth (60th) day following the Separation
and, once they commence, will include any unpaid amounts accrued from the date of Executive’s Separation (to the extent not otherwise satisfied with continuation coverage). However, if the period comprising the sum of the sixty (60)-day period
described in the preceding sentence and the ten (10)-day period described in Section 7(e)(3) below spans two calendar years, then the payments which constitute deferred compensation subject to Section 409A will not in any case be paid in the first
calendar year. Executive shall have no right to an additional gross-up payment to account for the fact that such COBRA premium amounts are paid on an after-tax basis. 

3.         CIC Qualifying Termination. If the Executive is subject to a CIC Qualifying Termination,
then, subject to Sections 4, 9, and 10 below, Executive will be entitled to the following benefits: 
 (a)
        Severance Benefits. The Company or its subsidiary shall pay the Executive the severance benefits set forth in
 Section 2(a) above. 

(b)         Equity. Each of Executive’s then outstanding Equity Awards, including awards
that would otherwise vest only upon satisfaction of performance criteria, shall accelerate and become vested and exercisable as to 100% of the total shares underlying the Equity Award. For awards that would otherwise vest only upon satisfaction of
performance criteria, the foregoing acceleration shall be based on achievement of performance criteria at target, except to the extent otherwise provided in the award agreement evidencing such award. “Equity Awards” means all
options to purchase shares of Company common stock as well as any and all other stock-based awards granted to the Executive, including but not limited to stock bonus awards, restricted stock, restricted stock units or stock appreciation rights.
Subject to Section 4, the accelerated vesting described above shall be effective as of the Separation. 
 (c)
        Pay in Lieu of Continued Employee Benefits. If Executive timely elects continued coverage under COBRA, the Company or its subsidiary shall pay the full amount of Executive’s COBRA premiums
on behalf of the Executive for the Executive’s continued coverage under the Company’s or its subsidiary’s, as applicable, health, dental and vision plans, including coverage for the Executive’s eligible dependents, for the
Severance Period. Notwithstanding the foregoing, if the Company, in its sole discretion, determines that it cannot provide the foregoing subsidy of COBRA coverage without potentially violating or causing the Company or its subsidiary to incur
additional expense as a result of noncompliance with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company or its subsidiary instead shall provide to Executive a taxable monthly payment in an
amount equal to the monthly COBRA premium that Executive would be required to pay to continue the group health coverage in effect on the date of the Separation (which amount shall be based on the premium for the first month of COBRA coverage), which
payments shall be made regardless of whether Executive elects COBRA continuation coverage, shall commence on the later of (i) the first day of the month following the month in which Executive experiences a Separation and (ii) the effective date of
the Company’s determination of violation of applicable law, and shall end on the earlier of (x) the effective date on which Executive becomes covered by a health, dental or vision insurance plan of a subsequent employer, and (y) the last day of
the Severance Period, provided that, any taxable payments under this Section 3(c) will not be paid before the first business day occurring after the sixtieth (60th) day following the Separation and, once they commence, will include any unpaid
amounts accrued from the date of Executive’s Separation (to the extent not otherwise satisfied with continuation coverage). However, if the period comprising the sum of the sixty (60)-day period described in the preceding sentence and the ten

  
 2 

 
(10)-day period described in Section 7(g)(3) below spans two calendar years, then the payments which constitute deferred compensation subject to Section 409A will not in any case be paid in the
first calendar year. Executive shall have no right to an additional gross-up payment to account for the fact that such COBRA premium amounts are paid on an after-tax basis. 

4.         General Release. Any other provision of this Agreement notwithstanding, the benefits under
Section 2 and 3 shall not apply unless the Executive (i) has executed a general release (in a form prescribed by the Company) of all known and unknown claims that he or she may then have against the Company or entities or persons affiliated
with the Company and such release has become effective and (ii) has agreed not to prosecute any legal action or other proceeding based upon any of such claims. The release must be in the form prescribed by the Company, without alterations (this
document effecting the foregoing, the “Release”). The Company or its subsidiary will deliver the form of Release to the Executive within thirty (30) days after the Executive’s Separation. The Executive must execute and return
the Release within the time period specified in the form. 
 5.         Accrued Compensation and Benefits.
Notwithstanding anything to the contrary in Section 2 and 3 above, in connection with any termination of employment upon or following a Change in Control (whether or not a Qualifying Termination or CIC Qualifying Termination), the Company or its
subsidiary shall pay Executive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented
business expenses incurred by Executive prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company or its subsidiary, as applicable, plan or policy. In
addition, Executive shall be entitled to any other vested benefits earned by Executive for the period through and including the termination date of Executive’s employment under any other employee benefit plans and arrangements maintained by the
Company or its subsidiary, as applicable, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Executive is
entitled shall be paid to the Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Executive in which the
termination occurs or at such earlier time as may be required by applicable law or Section 10 below, and to such lesser extent as may be mandated by Section 9 below. Any Accrued Benefits to which the Executive is entitled shall be paid to the
Executive as provided in the relevant plans and arrangements. 
 6.         Covenants. 

(a)         Non-Competition. The Executive agrees that the benefits provided in this Agreement
are granted in consideration for the ongoing promises and obligations of Executive under his employment agreement and any amendments thereto, including but not limited to Executive’s obligations concerning non-competition and non-solicitation.

 (b)         Cooperation and Non-Disparagement. The Executive agrees that, during the
Severance Period, he or she shall cooperate with the Company or its subsidiary in every reasonable respect and shall use his or her best efforts to assist the Company or its subsidiary with the transition of Executive’s duties to his or her
successor. The Executive further agrees that following the date of Separation, he or she shall not in any way or by any means disparage the Company, its subsidiaries, or the members of their Board of Directors or their officers and employees. 

7.         Definitions. 

(a)         “Board” means the Company’s Board of Directors. 

(b)         For purposes of this Agreement, “Cause” will be determined by a majority
vote of the Board (excluding Executive, if Executive is then a Board member) and will mean Executive’s: (i) willful failure or refusal to perform his duties as an employee of the Company or its subsidiary (other than due to Executive’s
Disability as defined below), such failure not being cured within ten (10) days after written 

  
 3 

 
notice from the Company or its subsidiary, as applicable, to Executive of such failure, provided, however, that Executive shall not be entitled to more than an aggregate of two (2) such
opportunities to cure; (ii) willful misconduct with respect to such duties or any other obligations (including, without limitation, the policies of the Company or its subsidiary, as applicable) owed by Executive in his capacity as an officer and
director of the Company or its subsidiary, as applicable that is materially injurious to the Company or its subsidiary, as applicable; (iii) material breach of any of the provisions of any agreement between Executive and the Company or its
subsidiary, as applicable that results in material harm to the reputation or business of the Company or its subsidiary, as applicable or is reasonably likely to cause material harm to the Company or its subsidiary, as applicable; (iv) conviction on
charges of, or plea of guilt or no contest to, any felony (other than motor vehicle offenses the effect of which do not materially impair Executive’s performance of his duties under his Employment Agreement with the Company or its subsidiary,
as applicable; (v) based upon the Board’s reasonable and good faith investigation, personal engagement in some form of discrimination or harassment prohibited by law (including without limitation, discrimination based on race, color, religion,
sex, national origin, age or disability) unless Executive’s action was specifically directed or approved by the Board; (vi) violation of any applicable federal, state or foreign statutes or laws that govern or regulate employment,
pharmaceutical drugs or securities, including but not limited to the laws enforced by the federal Equal Employment Opportunity Commission, Department of Labor, Food and Drug Administration, Securities and Exchange Commission and Department of
Justice; or (vii) Executive’s engagement in any other act of dishonesty, fraud, intentional misrepresentation, moral turpitude, illegality or harassment which, as determined in good faith by the Board, is reasonably likely to: (A) materially
adversely affect the business or the reputation of the Company or its subsidiary, as applicable with its current or prospective customers, suppliers, employees, lenders and/or other third parties with whom it does or might do business, or (B) expose
the Company or its subsidiary, as applicable to a risk of civil or criminal legal damages, liabilities or penalties. 
 (c)
        “Code” means the Internal Revenue Code of 1986, as amended. 
 (d)
        “Change in Control.” For all purposes under this Agreement, a Change in Control shall mean a “Corporate Transaction,” as such term is defined in the Company’s
2015 Equity Incentive Plan, as may be amended from time to time, provided that the transaction (including any series of transactions) also qualifies as a change in control under U.S. Treasury Regulation 1.409A-3(i)(5)(v) or
1.409A-3(i)(5)(vii). 
 (e)         “CIC Qualifying Termination”
means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either
case (A) or (B), from (i) the Company or its subsidiary, as applicable terminating the Executive’s employment for any reason other than Cause or (ii) the Executive voluntarily resigning his or her employment for Good Reason. A
termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement
for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include a merger agreement, but not a term sheet for a merger agreement). In the case of a termination
following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated. 

(f)         “Disability” means that Executive is unable to perform the essential
functions of his job by reason of illness, physical or mental disability or other incapacity, with or without a reasonable accommodation for more than ninety (90) days (which need not be consecutive) within any twelve (12) month period. 

(g)         “Good Reason” means, without the Executive’s consent, (i) a material
reduction in the Executive’s level of responsibility and/or scope of authority, (ii) a reduction by more than 10% in Executive’s base salary (other than a reduction generally applicable to executive officers of the Company or its
subsidiary, as applicable, and in generally the same proportion as for the Executive), or (iii) relocation of the Executive’s principal workplace by more than thirty-five (35) miles from Executive’s then

  
 4 

 
current place of employment. For the purpose of clause (i), a change in responsibility shall not be deemed to occur (A) solely because Executive is part of a larger organization or (B) solely
because of a change in title. For the Executive to receive the benefits under this Agreement as a result of a voluntary resignation under this subsection (g), all of the following requirements must be satisfied: (1) the Executive must provide notice
to the Company or its subsidiary, as applicable, of his or her intent to assert Good Reason within sixty (60) days of the initial existence of one or more of the conditions set forth in subclauses (i) through (iii); (2) the Company or its
subsidiary, as applicable, will have thirty (30) days (the “Company Cure Period”) from the date of such notice to remedy the condition and, if it does so, the Executive may withdraw his or her resignation or may resign with no
benefits; and (3) any termination of employment under this provision must occur within ten (10) days of the earlier of expiration of the Company Cure Period or written notice from the Company or its subsidiary, as applicable, that it will not
undertake to cure the condition set forth in subclauses (i) through (iii). Should the Company or its subsidiary, as applicable, remedy the condition as set forth above and then one or more of the conditions arises again within twelve months
following the occurrence of a Change in Control, the Executive may assert Good Reason again subject to all of the conditions set forth herein. 

(h)         “Release Conditions” mean the following conditions: (i) Company
has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired. 

(i)         “Qualifying Termination” means a Separation that is not a CIC Qualifying
Termination, but which results from (i) the Company or its subsidiary, as applicable, terminating the Executive’s employment for any reason other than Cause or (ii) the Executive voluntarily resigning his or her employment for Good
Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a Qualifying Termination. 
 (j)
        “Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Code. 

8.         Successors. 

(a)         Company’s Successors. The Company shall require any successor (whether direct
or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets, by an agreement in substance and form satisfactory to the Executive, to assume
this Agreement and to agree expressly to perform this Agreement in the same manner and to the same extent as the Company would be required to perform it in the absence of a succession. For all purposes under this Agreement, the term
“Company” shall include any successor to the Company’s business and/or assets or which becomes bound by this Agreement by operation of law. 

(b)         Executive’s Successors. This Agreement and all rights of the Executive
hereunder shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

9.         Golden Parachute Taxes. 

(a)         Best After-Tax Result. In the event that any payment or benefit received or to be
received by Executive pursuant to this Agreement or otherwise (“Payments”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this subsection (a), be
subject to the excise tax imposed by Section 4999 of the Code, any successor provisions, or any comparable federal, state, local or foreign excise tax (“Excise Tax”), then, subject to the provisions of Section 10, such Payments
shall be either (A) provided in full pursuant to the terms of this Agreement or any other applicable agreement, or (B) provided as to such lesser extent which would result in no portion of such Payments being subject to the Excise Tax
(“Reduced Amount”), whichever of the foregoing amounts, taking into account the applicable federal, state, local and foreign income, employment and other taxes and the Excise Tax (including, without limitation, any interest or
penalties on such taxes), 

  
 5 

 
results in the receipt by Executive, on an after-tax basis, of the greatest amount of payments and benefits provided for hereunder or otherwise, notwithstanding that all or some portion of such
Payments may be subject to the Excise Tax. Unless the Company and Executive otherwise agree in writing, any determination required under this Section shall be made by independent tax counsel designated by the Company and reasonably acceptable to
Executive (“Independent Tax Counsel’), whose determination shall be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required under this Section, Independent Tax Counsel
may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code; provided that Independent Tax Counsel
shall assume that Executive pays all taxes at the highest marginal rate. The Company and Executive shall furnish to Independent Tax Counsel such information and documents as Independent Tax Counsel may reasonably request in order to make a
determination under this Section. The Company shall bear all costs that Independent Tax Counsel may reasonably incur in connection with any calculations contemplated by this Section. In the event that Section 9(a)(ii)(B) above applies, then based on
the information provided to Executive and the Company by Independent Tax Counsel, the cutback described hereunder will apply as to compensation not subject to Section 409A of the Code prior to compensation subject to Section 409A of the Code and
will otherwise apply on a reverse chronological basis from payments latest in time. If the Internal Revenue Service (the “IRS”) determines that any Payment is subject to the Excise Tax, then Section 9(b) hereof shall apply, and the
enforcement of Section 9(b) shall be the exclusive remedy to the Company. 
 (b)
        Adjustments. If, notwithstanding any reduction described in Section 9(a) hereof (or in the absence of any such reduction), the IRS determines that Executive is liable for the Excise Tax as a
result of the receipt of one or more Payments, then Executive shall be obligated to surrender or pay back to the Company or its subsidiary, as applicable, within one-hundred twenty (120) days after a final IRS determination, an amount of such
payments or benefits equal to the “Repayment Amount.” The Repayment Amount with respect to such Payments shall be the smallest such amount, if any, as shall be required to be surrendered or paid to the Company or its subsidiary, as
applicable, so that Executive’s net proceeds with respect to such Payments (after taking into account the payment of the Excise Tax imposed on such Payments) shall be maximized. Notwithstanding the foregoing, the Repayment Amount with respect
to such Payments shall be zero (0) if a Repayment Amount of more than zero (0) would not eliminate the Excise Tax imposed on such Payments or if a Repayment Amount of more than zero would not maximize the net amount received by Executive from the
Payments. If the Excise Tax is not eliminated pursuant to this Section 9(b), Executive shall pay the Excise Tax. 
 10.
        Miscellaneous Provisions. 
 (a)
        Section 409A. To the extent (i) any payments to which Executive becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection with Executive’s termination
of employment with the Company or its subsidiary, as applicable, constitute deferred compensation subject to Section 409A of the Code and (ii) Executive is deemed at the time of such termination of employment to be a “specified” employee
under Section 409A of the Code, then such payment or payments shall not be made or commence until the earlier of (i) the expiration of the six (6)-month period measured from the Executive’s Separation; or (ii) the date of Executive’s death
following such Separation; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Executive, including (without limitation) the additional twenty percent (20%) tax for which
Executive would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a
single sum or in installments) in the absence of this paragraph shall be paid to Executive or Executive’s beneficiary in one lump sum (without interest). Except as otherwise expressly provided herein, to the extent any expense reimbursement or
the provision of any in-kind benefit under this Agreement (or otherwise referenced herein) is determined to be subject to (and not exempt from) Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of
any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to be provided in any other calendar year, in no event shall any expenses be reimbursed after the last day of the calendar year
following the calendar 

  
 6 

 
year in which Executive incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit.
To the extent that any provision of this Agreement is ambiguous as to its exemption or compliance with Section 409A, the provision will be read in such a manner so that all payments hereunder are exempt from Section 409A to the maximum permissible
extent, and for any payments where such construction is not tenable, that those payments comply with Section 409A to the maximum permissible extent. To the extent any payment under this Agreement may be classified as a “short-term
deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A. Payments pursuant to this Agreement (or
referenced in this Agreement) are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the regulations under Section 409A. 

(b)         Other Arrangements. This Agreement supersedes any and all cash severance
arrangements and vesting acceleration arrangements on change in control under any prior option agreement, restricted stock unit agreement, severance and salary continuation arrangements, programs and plans which were previously offered by the
Company or its subsidiary, as applicable, to the Executive, including change in control severance arrangements and vesting acceleration arrangements pursuant to an employment agreement or offer letter, and Executive hereby waives Executive’s
rights to such other benefits. In no event shall any individual receive cash severance benefits under both this Agreement and any other severance pay or salary continuation program, plan or other arrangement with the Company or its subsidiaries. For
the avoidance of doubt, in no event shall Executive receive payment under both Section 2 and Section 3 with respect to Executive’s Separation. 

(c)         Dispute Resolution. To ensure rapid and economical resolution of any and all
disputes that might arise in connection with this Agreement, Executive and the Company agree that any and all disputes, claims, and causes of action, in law or equity, arising from or relating to this Agreement or its enforcement, performance,
breach, or interpretation, will be resolved solely and exclusively by final, binding, and confidential arbitration, by a single arbitrator, in San Francisco County, and conducted by Judicial Arbitration & Mediation Services, Inc.
(“JAMS”) under its then-existing employment rules and procedures. Nothing in this section, however, is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of
any such arbitration. Each party to an arbitration or litigation hereunder shall be responsible for the payment of its own attorneys’ fees. 

(d)         Notice. Notices and all other communications contemplated by this Agreement shall
be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid or deposited with Federal Express Corporation, with shipping
charges prepaid. In the case of the Executive, mailed notices shall be addressed to him or her at the home address which he or she most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to
its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 
 (e)
        Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an
authorized officer of the Company (other than the Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or
provision or of the same condition or provision at another time. 
 (f)         Withholding
Taxes. All payments made under this Agreement shall be subject to reduction to reflect taxes or other charges required to be withheld by law. 

(g)         Severability. The invalidity or unenforceability of any provision or provisions of
this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 

(h)         No Retention Rights. Nothing in this Agreement shall confer upon the Executive any
right to continue in service for any period of specific duration or interfere with or otherwise restrict in any 

  
 7 

 
way the rights of the Company or any subsidiary of the Company or of the Executive, which rights are hereby expressly reserved by each, to terminate his or her service at any time and for any
reason, with or without Cause. 
 (i)         Choice of Law. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Texas (other than its choice-of-law provisions). 

  
 8 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by its duly authorized officer, as of the day and year first above written. 
  

			
	 AEGLEA BIOTHERAPEUTICS, INC.

	
	 /s/ Charles N. York

	By:		Charles N. York
	Title:		Vice President of Finance
	
	 /s/ David G. Lowe

	David G. Lowe, Ph.D.

  
  
  

 
  

[SIGNATURE PAGE TO CEO SEVERANCE AGREEMENT]

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