Document:

EX-10.4

 Exhibit 10.4 

4D MOLECULAR THERAPEUTICS, INC. 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is effective as of «Date» by and between 4D Molecular
Therapeutics, Inc., a Delaware corporation (the “Company”), and «Indemnitee» (“Indemnitee”). This Agreement supersedes and replaces any and all previous agreements between the Company and the Indemnitee
covering indemnification. 
 A. The Company recognizes the difficulty in obtaining liability insurance for its directors, officers,
employees, controlling persons, fiduciaries and other agents and affiliates, the significant cost of such insurance and the general limitations in the coverage of such insurance. 

B. The Company further recognizes the substantial increase in corporate litigation in general, subjecting directors, officers, employees,
controlling persons, fiduciaries and other agents and affiliates to expensive litigation risks at the same time as the availability and coverage of liability insurance has been severely limited. 

C. The current protection available to directors, officers, employees, controlling persons, fiduciaries and other agents and affiliates of the
Company may not be adequate under the present circumstances, and directors, officers, employees, controlling persons, fiduciaries and other agents and affiliates of the Company (or persons who may be alleged or deemed to be the same), including the
Indemnitee, may not be willing to serve or continue to serve or be associated with the Company in such capacities without additional protection. 

D. The Company (a) desires to attract and retain the involvement of highly qualified persons, such as Indemnitee, to serve and be
associated with the Company, and (b) accordingly, wishes to provide for the indemnification and advancement of expenses to the Indemnitee to the maximum extent permitted by law. 

E. In view of the considerations set forth above, the Company desires that Indemnitee shall be indemnified and advanced expenses by the Company
as set forth herein. 
 AGREEMENT: 

In consideration of the mutual promises and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows: 
 1. Certain Definitions. 

(a) “Change in Control” shall be deemed to have occurred if, on or after the date of this Agreement, (i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company acting in such
capacity or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, becomes the “beneficial owner” 

  
 1 

 (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting power represented by the Company’s then outstanding Voting Securities, (ii) during any period of two (2) consecutive years,
individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at
least two- thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any
reason to constitute a majority thereof, (iii) the appointment or election of two (2) or more persons to the Board of Directors of the Company as a result of an actual or threatened solicitation of proxies or election contest with respect
to directors of the Board of Directors of the Company, in each case, by or on behalf of a person other than the Board of Directors, (iv) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation
other than a merger or consolidation which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the
surviving entity) at least eighty percent (80%) of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (iv) the stockholders of the
Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of related transactions) all or substantially all of the Company’s assets. 

(b) “Claim” shall mean with respect to a Covered Event: any threatened, asserted, pending or completed action, suit,
proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation (formal or informal) that Indemnitee [(or in the case of a Fund Indemnitor (as defined in Section 18 below) seeking to be indemnified, a Fund
Indemnitor)]1 in good faith believes might lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative,
investigative or other, including any appeal therefrom. 
 (c) References to the “Company” shall include, in addition to 4D
Molecular Therapeutics, Inc., any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger to which 4D Molecular Therapeutics, Inc. (or any of its wholly owned subsidiaries) is a party, which, if its
separate existence had continued, would have had power and authority to indemnify its directors, officers, employees, agents or fiduciaries, so that if Indemnitee is or was a director, officer, employee, agent or fiduciary of such constituent
corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise, Indemnitee
shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued. 

(d) “Covered Event” shall mean any event or occurrence by reason of the fact that Indemnitee is or was a director, officer,
employee, agent or fiduciary of the Company, or any subsidiary of the Company, direct or indirect, whether before or after the date of this Agreement, or is or was serving at the request of the Company as a director, officer, employee, agent or
fiduciary of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity, whether before or after the date of this Agreement. 

 

	1 	 Note to Form: To be included when applicable.

  
 2. 

 (e) “Expense Advance” shall mean a payment to Indemnitee for Expenses
pursuant to Section 3 hereof, in advance of the settlement of or final judgment in any action, suit, proceeding or alternative dispute resolution mechanism, hearing, inquiry or investigation, which constitutes a Claim. 

(f) “Expenses” shall mean any and all direct and indirect costs, losses, claims, damages, fees, expenses and liabilities,
joint or several (including reasonable attorneys’ fees and all other costs, expenses and obligations reasonably incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to
defend, to be a witness in or to participate in, any action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if such settlement is approved
in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred, of any Claim and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any
payments under this Agreement, ERISA excise taxes and penalties. 
 (g) “Independent Legal Counsel” shall mean an attorney
or firm of attorneys, selected in accordance with the provisions of Section 2(d) hereof, who shall not have otherwise performed services for (i) the Company or Indemnitee in any matter material to either such party (other than with respect
to matters concerning the rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements) or (ii) any other party to the Claim giving rise to a claim for indemnification hereunder, within the last three
(3) years. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (h) References to “other
enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to “serving at the request of
the Company” shall include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect to an employee
benefit plan, its participants or its beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

  
 3. 

 (i) “Reviewing Party” shall mean, subject to the provisions of
Section 2(d), any person or body appointed by the Board of Directors in accordance with applicable law to review the Company’s obligations hereunder and under applicable law, which may include a member or members of the Company’s
Board of Directors, Independent Legal Counsel or any other person or body not a party to the particular Claim for which Indemnitee is seeking indemnification, exoneration or hold harmless rights. In the absence of the appointment of another
Reviewing Party, but subject to the provisions of Section 2(d), the full Board of Directors shall be deemed to be the “Reviewing Party” within the meaning of this Agreement. 

(j) “Section” refers to a section of this Agreement unless otherwise indicated. 

(k) “Voting Securities” shall mean any securities of the Company that vote generally in the election of directors. 

2. Indemnification. 

(a) Indemnification of Expenses. Subject to the provisions of Section 2(b) below, the Company shall indemnify, exonerate or hold
harmless Indemnitee for Expenses to the fullest extent permitted by law if Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, any Claim (whether by
reason of or arising in part out of a Covered Event), including all interest, assessments and other charges incurred in connection with or in respect of such Expenses. 

(b) Review of Indemnification Obligations. 

(i) Notwithstanding the foregoing, in the event any Reviewing Party shall have determined (in a written opinion, in any case in which
Independent Legal Counsel is the Reviewing Party) that Indemnitee is not entitled to be indemnified, exonerated or held harmless hereunder under applicable law, (A) the Company shall have no further obligation under Section 2(a) to make
any payments to Indemnitee not made prior to such determination by such Reviewing Party and (B) the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all Expenses theretofore paid in
indemnifying, exonerating or holding harmless Indemnitee (within thirty (30) days after such determination); provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent
jurisdiction to secure a determination that Indemnitee is entitled to be indemnified, exonerated or held harmless hereunder under applicable law, any determination made by any Reviewing Party that Indemnitee is not entitled to be indemnified
hereunder under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expenses theretofore paid in indemnifying, exonerating or holding harmless Indemnitee until a final judicial determination is
made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Indemnitee’s obligation to reimburse the Company for any Expenses shall be unsecured and no interest shall be charged thereon. 

(ii) Subject to Section 2(b)(iii) below, if the Reviewing Party shall not have made a determination within forty-five (45) days
after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such
indemnification, absent (A) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification or
(B) a prohibition of such indemnification under applicable law; provided, however, that such 45-day period may be extended for a reasonable time, not to exceed an additional thirty
(30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating
thereto. 

  
 4. 

 (iii) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of the Claim. 

(c) Indemnitee Rights on Unfavorable Determination; Binding Effect. If any Reviewing Party determines that Indemnitee substantively is
not entitled to be indemnified, exonerated or held harmless hereunder in whole or in part under applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any such
determination by such Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and, subject to the provisions of Section 15 hereof, the Company hereby consents to service of process and to appear in any such
proceeding. Absent such litigation, any determination by any Reviewing Party shall be conclusive and binding on the Company and Indemnitee. 

(d) Selection of Reviewing Party; Change in Control. If there has not been a Change in Control, any Reviewing Party shall be selected by
the Board of Directors, which may be the full Board of Directors in the absence of the selection of another Reviewing Party, and if there has been such a Change in Control , any Reviewing Party with respect to all matters thereafter arising
concerning Indemnitee’s indemnification, exoneration or hold harmless rights for Expenses under this Agreement or any other agreement or under the Company’s Certificate of Incorporation or bylaws as now or hereafter in effect, or under any
other applicable law, if desired by Indemnitee, shall be Independent Legal Counsel selected by the Indemnitee and approved by Company (which approval shall not be unreasonably withheld). Such counsel, among other things, shall render its written
opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be entitled to be indemnified, exonerated or held harmless hereunder under applicable law and the Company agrees to abide by such opinion. The Company agrees to
pay the reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify, exonerate and hold harmless such counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of
or relating to this Agreement or its engagement pursuant hereto. Notwithstanding any other provision of this Agreement, the Company shall not be required to pay Expenses of more than one Independent Legal Counsel in connection with all matters
concerning a single Indemnitee, and such Independent Legal Counsel shall be the Independent Legal Counsel for any or all other Indemnitees unless (i) the Company otherwise determines or (ii) any Indemnitee shall provide a written statement
setting forth in detail a reasonable objection to such Independent Legal Counsel representing other Indemnitees. 

  
 5. 

 (e) Mandatory Payment of Expenses. Notwithstanding any other provision of this
Agreement other than Section 10 hereof, to the fullest extent permitted by applicable law and to the extent that Indemnitee was a party to (or participant in) and has been successful on the merits or otherwise, including, without limitation,
the dismissal of an action without prejudice, in defense of any Claim, Indemnitee shall be indemnified, exonerated and held harmless against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If Indemnitee is not
wholly successful in such Claim but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Claim, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred
by him or on his behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section and without limitation, the termination of any claim, issue or matter in
such a Claim by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 
 (f)
Contribution. If the indemnification, exoneration or hold harmless rights provided for in this Agreement are for any reason held by a court of competent jurisdiction to be unavailable to an Indemnitee, then in lieu of indemnifying,
exonerating or holding harmless Indemnitee thereunder, the Company shall contribute to the amount paid or required to be paid by Indemnitee as a result of such Expenses (i) in such proportion as is deemed fair and reasonable in light of all of
the circumstances in order to reflect the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Claim or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company (and its directors, officers, employees and agents) and
Indemnitee in connection with the action or inaction which resulted in such Expenses, as well as any other relevant equitable considerations. In connection with the registration of the Company’s securities, the relative benefits received by the
Company and Indemnitee shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses) received by the Company and Indemnitee, in each case as set forth in the table on the cover page of
the applicable prospectus, bear to the aggregate public offering price of the securities so offered. The relative fault of the Company and Indemnitee shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or Indemnitee and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission. 
 The Company and Indemnitee agree that it would not be just and equitable if contribution pursuant
to this Section 2(f) were determined by pro rata or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with the registration of the
Company’s securities, in no event shall Indemnitee be required to contribute any amount under this Section 2(f) in excess of the net proceeds received by Indemnitee from its sale of securities under such registration statement. No person
found guilty of fraudulent misrepresentation (within the meaning of Section 11(a) of the Securities Act of 1933, as amended) shall be entitled to contribution from any person who was not found guilty of such fraudulent misrepresentation. 

  
 6. 

 3. Expense Advances. 

(a) Obligation to Make Expense Advances. The Company shall make Expense Advances to Indemnitee upon receipt of a written undertaking, in
the form attached hereto as Exhibit A, by or on behalf of the Indemnitee to repay such amounts if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified, exonerated or held harmless therefor by the Company.

 (b) Form of Undertaking. Any written undertaking by the Indemnitee to repay any Expense Advances hereunder shall be unsecured and
no interest shall be charged thereon. 
 4. Procedures for Indemnification and Expense Advances. 

(a) Timing of Payments. All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee
pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than forty-five (45) days after such written
demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than twenty (20) days after such written demand by Indemnitee is presented to the Company. If the Company disputes a portion
of the amounts for which indemnification is requested, the undisputed portion shall be paid and only the disputed portion withheld pending resolution of any such dispute. 

(b) Notice/Cooperation by Indemnitee. Indemnitee shall, as a condition precedent to Indemnitee’s right to be indemnified,
exonerated or held harmless or Indemnitee’s right to receive Expense Advances under this Agreement, give the Company notice in writing as soon as practicable of any Claim made against Indemnitee for which indemnification, exoneration or hold
harmless rights will or could be sought under this Agreement. Notice to the Company shall be directed to the President and the Secretary of the Company at the address shown on the signature page of this Agreement (or such other address as the
Company shall designate in writing to Indemnitee) and shall include a description of the nature of the Claim and the facts underlying the Claim, in each case to the extent known to Indemnitee. To obtain indemnification under this Agreement,
Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification following the final disposition of such Claim. In addition, Indemnitee shall give the Company such information and cooperation as the Company may reasonably require and as shall be within Indemnitee’s power. The
failure by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a
waiver by Indemnitee of any rights under this Agreement, except to the extent (solely with respect to the indemnity hereunder) that such failure or delay materially prejudices the Company. 

(c) Presumptions; Burden of Proof. (i) In making a determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination will, to the fullest extent not prohibited by law, presume Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance
with this Agreement, and the Company will, to the fullest extent not prohibited by law, have the burden of proof by clear and convincing evidence to overcome that presumption. 

  
 7. 

 
Neither the failure of the Company (including by its directors or Independent Legal Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Legal Counsel) that Indemnitee has not met such
applicable standard of conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(iii) The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was
unlawful. 
 (iv) For purposes of any determination of good faith, Indemnitee will be deemed to have acted in good faith if Indemnitee acted
based on the records or books of account of the Company or its subsidiaries, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Company or its subsidiaries in the course of their duties, or
on the advice of legal counsel for the Company or its subsidiaries or on information or records given or reports made to the Company by an independent certified public accountant or by an appraiser, financial advisor or other expert selected with
reasonable care by or on behalf of the Company or its subsidiaries. Further, Indemnitee will be deemed to have acted in a manner “not opposed to the best interests of the Company,” as referred to in this Agreement if Indemnitee acted in
good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan. The provisions of this Section 4(c) are not exclusive and do not limit in any way the other
circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 
 (d)
Notice to Insurers. If, at the time of the receipt by the Company of a notice of a Claim pursuant to Section 4(b) hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt notice of
the commencement of such Claim to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all reasonably necessary or desirable action to cause such insurers to pay, on behalf of the
Indemnitee, all amounts payable as a result of such Claim in accordance with the terms of such policies. 
 (e) Selection of Counsel.
In the event the Company shall be obligated hereunder to provide indemnification, exoneration or hold harmless rights for or make any Expense Advances with respect to the Expenses of any Claim, the Company, if appropriate, shall be entitled to
assume the defense of such Claim with counsel approved by Indemnitee (which approval shall not be unreasonably withheld) upon the delivery to Indemnitee of written notice of the Company’s election to do so. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to 

  
 8. 

 
Indemnitee under this Agreement for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Claim; provided, however, that
(i) Indemnitee shall have the right to employ Indemnitee’s separate counsel in any such Claim at Indemnitee’s expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the
Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (C) the Company shall not continue to retain such counsel to defend
such Claim, then the fees and expenses of Indemnitee’s separate counsel shall be Expenses for which Indemnitee may receive indemnification, exoneration or hold harmless rights or Expense Advances hereunder. The Company shall have the right to
conduct such defense as it sees fit in its sole discretion, including the right to settle any claim, action or proceeding against Indemnitee without the consent of Indemnitee, provided that the terms of such settlement include either: (i) a
full release of Indemnitee by the claimant from all liabilities or potential liabilities under such claim or (ii), in the event such full release is not obtained, the terms of such settlement do not limit any indemnification, exoneration or hold
harmless rights Indemnitee may now, or hereafter, be entitled to under this Agreement, the Company’s Certificate of Incorporation, bylaws, any agreement, any vote of stockholders or disinterested directors, the General Corporation Law of the
State of Delaware (the “DGCL”) or otherwise. 
 5. Additional Indemnification Rights; Nonexclusivity.

 (a) Scope. The Company hereby agrees to indemnify, exonerate and hold harmless the Indemnitee to the fullest extent permitted
by law, notwithstanding that such indemnification, exoneration or hold harmless right is not specifically authorized by the other provisions of this Agreement, the Company’s Certificate of Incorporation, the Company’s bylaws or by statute,
a vote of stockholders or a resolution of directors, or otherwise. The rights of indemnification and to receive Expense Advances as provided by this Agreement shall be interpreted independently of, and without reference to, any other such rights to
which Indemnitee may at any time be entitled. In the event of any change after the date of this Agreement in any applicable law, statute or rule which expands the right of a Delaware corporation to indemnify, exonerate or hold harmless a member of
its board of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change in any applicable law,
statute or rule which narrows the right of a Delaware corporation to indemnify, exonerate or hold harmless a member of its board of directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law,
statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder except as set forth in Section 10(a) hereof. 

(b) Nonexclusivity. The indemnification, exoneration or hold harmless rights and the payment of Expense Advances provided by this
Agreement shall be in addition to any rights to which Indemnitee may be entitled under the Company’s Certificate of Incorporation, its bylaws, any other agreement, any vote of stockholders or disinterested directors, the DGCL, or otherwise. The
indemnification, exoneration or hold harmless rights and the payment of Expense Advances provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified, exonerated or held harmless
capacity even though subsequent thereto Indemnitee may have ceased to serve in such capacity. 

  
 9. 

 6. No Duplication of Payments. The Company shall not be liable
under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, provision of the Company’s Certificate of Incorporation,
bylaws or otherwise) of the amounts otherwise payable hereunder, except as provided in Section 18 below. 
 7. Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification, exoneration or hold harmless rights by the Company for some or a portion of Expenses incurred in connection with any Claim, but not,
however, for the total amount thereof, the Company shall nevertheless indemnify, exonerate or hold harmless Indemnitee for the portion of such Expenses to which Indemnitee is entitled. 

8. Mutual Acknowledgment. Both the Company and Indemnitee acknowledge that in certain instances, federal law or
applicable public policy may prohibit the Company from indemnifying, exonerating or holding harmless its directors, officers, employees, agents or fiduciaries under this Agreement or otherwise. Indemnitee understands and acknowledges that the
Company may be required in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification, exoneration or hold harmless rights to a court in certain circumstances for a determination of the
Company’s right under public policy to indemnify, exonerate or hold harmless Indemnitee. 
 9. Liability
Insurance. To the extent the Company maintains liability insurance applicable to directors, officers, employees, agents or fiduciaries, Indemnitee shall be covered by such policies in such a manner as to provide Indemnitee the same
rights and benefits as are provided to the most favorably insured of the Company’s directors who are not employees of the Company, if Indemnitee is a director who is not employed by the Company; or of the Company’s officers, if Indemnitee
is a director of the Company and is also employed by the Company, or is not a director of the Company but is an officer; or in the Company’s sole discretion, if Indemnitee is not an officer or director but is an employee, agent or fiduciary.

 10. Exceptions. Notwithstanding any other provision of this Agreement, the Company shall not be obligated
pursuant to the terms of this Agreement: 
 (a) Excluded Action or Omissions. To indemnify, exonerate or hold harmless Indemnitee for
Expenses resulting from acts, omissions or transactions for which Indemnitee is prohibited from receiving indemnification, exoneration or hold harmless rights under this Agreement or applicable law; provided, however, that notwithstanding any
limitation set forth in this Section 10(a) regarding the Company’s obligation to provide indemnification, exoneration or hold harmless rights to Indemnitee, Indemnitee shall be entitled under Section 3 to receive Expense Advances
hereunder with respect to any such Claim unless and until a court having jurisdiction over the Claim shall have made a final judicial determination (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee has
engaged in acts, omissions or transactions for which Indemnitee is prohibited from receiving indemnification under this Agreement or applicable law. 

  
 10. 

 (b) Claims Initiated by Indemnitee. To indemnify, exonerate or hold harmless or make
Expense Advances to Indemnitee with respect to Claims initiated or brought voluntarily by Indemnitee and not by way of defense, counterclaim or cross claim, except (i) with respect to actions or proceedings brought to establish or enforce an
indemnification, exoneration or hold harmless right under this Agreement or any other agreement or insurance policy or under the Company’s Certificate of Incorporation or bylaws now or hereafter in effect relating to Claims for Covered Events,
(ii) in specific cases if the Board of Directors has approved the initiation or bringing of such Claim or (iii) as otherwise required under Section 145 of the DGCL, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, exoneration, hold harmless right, Expense Advances or insurance recovery, as the case may be. 
 (c)
Lack of Good Faith. To indemnify, exonerate or hold harmless Indemnitee for any Expenses incurred by Indemnitee with respect to any action instituted (i) by Indemnitee to enforce or interpret this Agreement, if a court having
jurisdiction over such action determines as provided in Section 13 hereof that each of the material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous or (ii) by or in the name of the
Company to enforce or interpret this Agreement, if a court having jurisdiction over such action determines as provided in Section 13 hereof that each of the material defenses asserted by Indemnitee in such action was made in bad faith or was
frivolous. 
 (d) Claims Under Section 16(b) or Sarbanes-Oxley Act. To indemnify, exonerate or hold harmless
Indemnitee for expenses and the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute or
(ii) any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the
Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of
profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); provided, however, that notwithstanding any limitation set forth in this Section 10(d) regarding the
Company’s obligation to provide indemnification or exoneration or hold harmless, Indemnitee shall be entitled under Section 3 hereof to receive Expense Advances hereunder with respect to any such Claim unless and until a court having
jurisdiction over the Claim shall have made a final judicial determination (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee has violated said statute. 

11. Counterparts. This Agreement may be executed in counterparts and by facsimile or electronic transmission, each
of which shall constitute an original and all of which, together, shall constitute one instrument. 
 12. Binding Effect;
Successors and Assigns. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to

  
 11. 

 
assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall
continue in effect regardless of whether Indemnitee continues to serve as a director, officer, employee, agent or fiduciary (as applicable) of the Company or of any other enterprise at the Company’s request. [The Company and Indemnitee agree
that the Fund Indemnitors (as defined in Section 18 below) are express third party beneficiaries of this Agreement.]2 

13. Expenses Incurred in Action Relating to Enforcement or Interpretation. In the event that any action is
instituted by Indemnitee under this Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof, Indemnitee shall be entitled to be indemnified for all Expenses incurred by
Indemnitee with respect to such action (including without limitation attorneys’ fees), regardless of whether Indemnitee is ultimately successful in such action, unless as a part of such action a court having jurisdiction over such action makes
a final judicial determination (as to which all rights of appeal therefrom have been exhausted or lapsed) that each of the material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous;
provided, however, that until such final judicial determination is made, Indemnitee shall be entitled under Section 3 to receive payment of Expense Advances hereunder with respect to such action. In the event of an action
instituted by or in the name of the Company under this Agreement to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be indemnified, exonerated or held harmless for all Expenses incurred by Indemnitee in
defense of such action (including without limitation costs and expenses incurred with respect to Indemnitee’s counterclaims and cross-claims made in such action), unless as a part of such action a court having jurisdiction over such action
makes a final judicial determination (as to which all rights of appeal therefrom have been exhausted or lapsed) that each of the material defenses asserted by Indemnitee in such action was made in bad faith or was frivolous; provided,
however, that until such final judicial determination is made, Indemnitee shall be entitled under Section 3 to receive payment of Expense Advances hereunder with respect to such action. 

14. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and
shall be deemed duly given (i) if delivered by hand and signed for by the party addressed, on the date of such delivery or (ii) if mailed by domestic certified or registered mail with postage prepaid, on the third business day after the
date postmarked. Addresses for notice to either party are as shown on the signature page of this Agreement or as subsequently modified by written notice. 

15. Consent to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the
courts of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be commenced, prosecuted and continued only
in the Court of Chancery of the State of Delaware in and for New Castle County, which shall be the exclusive and only proper forum for adjudicating such a claim. 

 

	2 	 Note to Form: To be included when applicable.

  
 12. 

 16. Severability. The provisions of this Agreement shall be
severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including without limitation each portion of this Agreement containing any provision held to
be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable. 

17. Choice of Law. This Agreement, and all rights, remedies, liabilities, powers and duties of the parties to this
Agreement, shall be governed by and construed in accordance with the laws of the State of Delaware without regard to principles of conflicts of laws. 

18. Primacy of Indemnification; Subrogation. 

(a) [The Company hereby acknowledges that Indemnitee has or may in the future have certain indemnification, exoneration, hold harmless or
Expense advancement rights and/or insurance provided by [Fund] and certain of its affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its
obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance Expenses or to provide indemnification, exoneration or hold harmless rights for the same Expenses incurred by Indemnitee are secondary), (ii) that it shall
be required to advance the full amount of Expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses, to the extent legally permitted and as required by the Certificate of Incorporation or bylaws of the Company (or any
agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Fund Indemnitors, (iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the
Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof and (iv) if any Fund Indemnitor is a party to or a participant in a legal proceeding, which participation or involvement arises solely and
exclusively as a result of Indemnitee’s service to the Company as a director of the Company, then such Fund Indemnitor shall be entitled to all of the indemnification rights and remedies under this Agreement to the same extent as Indemnitee.
The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any Claim for which Indemnitee has sought indemnification, exoneration or hold harmless rights from the Company shall affect
the foregoing and the Fund Indemnitors shall have a right to receive from the Company, contribution and/or be subrogated, to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company.]3 
 (b) [Except as provided in Section 18(a) above, ][I]n the event of payment under
this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee from any insurance policy purchased by the Company, who shall execute all documents required and shall do all acts that may
be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. In no event, however, shall the Company or any other person have any right of recovery, through subrogation or otherwise, against
(i) Indemnitee, [or] (ii) [any Fund Indemnitor or (iii)]4 any insurance policy purchased or maintained by Indemnitee [or any Fund Indemnitor]. 

 

	3 	 Note to Form: To be included when applicable. 

	4 	 Note to Form: To be included when applicable. 

  
 13. 

 19. Amendment and Termination. No amendment, modification,
termination or cancellation of this Agreement shall be effective unless it is in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed to be or shall constitute a waiver of any other
provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. 
 20. Integration and Entire
Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter
hereof between the parties hereto, including any existing director or officer indemnification agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the bylaws, any
directors and officers insurance maintained by the Company and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

21. No Construction as Employment Agreement. Nothing contained in this Agreement shall be construed as giving
Indemnitee any right to employment by the Company or any of its subsidiaries or affiliated entities. 
 22. Additional
Acts. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is required, the Company undertakes to cause such act, resolution, approval or other procedure to be affected or
adopted in a manner that will enable the Company to fulfill its obligations under this Agreement. 
 (The remainder of this page is
intentionally left blank.) 

  
 14. 

 IN WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement
as of the date first above written. 
  

			
	4D MOLECULAR THERAPEUTICS, INC.
		
	By:	 	  

		 	AUTHORIZED OFFICER
	
	Address:
	5858 Horton Street #455
	Emeryville, CA 94608

  

			
	 AGREED TO AND ACCEPTED
BY:

	
	 INDEMNITEE:

		
	 By:
	 	  

		 	 «INDEMNITEE»

	
	 Date: «Date»

	
	 Address:

	 «Address»

  
 15. 

 EXHIBIT A 

Form of Undertaking 

AFFIRMATION AND UNDERTAKING FOR ADVANCE OF EXPENSES 

PURSUANT TO SECTION 145(e) OF THE GENERAL CORPORATION LAW 

OF THE STATE OF DELAWARE 

Pursuant to Section 145(e) of the General Corporation Law of the State of Delaware (the “DGCL”), Section 9.3
of the Amended and Restated Bylaws (the “Bylaws”) of 4D Molecular Therapeutics, Inc. (the “Company”), and Section 3(a) of my Indemnification Agreement with the Company (the
“Indemnification Agreement”), I understand that I must provide a written undertaking in order for the Company to make Expense Advances to me in connection with [NAME OF PROCEEDING], as well as in any related action, suit or
proceeding that is threatened, pending or may be filed in the future in which I am a party, a witness or other participant. 
 The
capitalized terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement. 
 I hereby
affirm my good-faith belief that I have met the standard of conduct for indemnification imposed by Section 145(d) of the DGCL. I affirm that in connection with the matters for which I seek Expense Advances, I have acted in good faith and in a
manner I reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal action or proceeding, had no reasonable cause to believe that such conduct was unlawful. 

I hereby undertake to repay the Expense Advances if it is ultimately determined that I am not entitled to be indemnified, exonerated or held
harmless therefor by the Company under Section 145 of the DGCL, Article IX of the Bylaws or the Indemnification Agreement. 
 This
undertaking is a general, unsecured obligation, and no interest shall be charged hereon. 
 I have executed this Affirmation and Undertaking
on this ___ day of __________, 20__.EX-10.8

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

 Exhibit 10.8 
  

			
	 Agreement Control No. 2014-03-0089

 
 UNIVERSITY OF CALIFORNIA, BERKELEY

 
 OFFICE OF TECHNOLOGY LICENSING
	  	 

  
  

EXCLUSIVE LICENSE AND BAILMENT AGREEMENT 

BETWEEN 
 4D MOLECULAR
THERAPEUTICS, LLC 
 AND 

THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 

FOR 
 ADENO-ASSOCIATED
VIRUS SEROTYPE 2 (AAV2) CAPSID MUTANTS WITH 
 NOVEL PROPERTIES FOR ENHANCED PERFORMANCE FOR GENE THERAPY 

UC Case No.: B03-104 
  

 

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

 TABLE OF CONTENTS 

 

							
	1.	 	 Background
	  	 	3	 
			
	2.	 	 Definitions
	  	 	4	 
			
	3.	 	 Grant
	  	 	8	 
			
	4.	 	 Sublicenses
	  	 	9	 
			
	5.	 	 License Issue Fee
	  	 	12	 
			
	6.	 	 Royalties
	  	 	13	 
			
	7.	 	 Due Diligence
	  	 	16	 
			
	8.	 	 Progress and Royalty Reports
	  	 	18	 
			
	9.	 	 Books and Records
	  	 	19	 
			
	10.	 	 Life of the Agreement
	  	 	20	 
			
	11.	 	 Termination by Regents
	  	 	20	 
			
	12.	 	 Termination by Licensee
	  	 	21	 
			
	13.	 	 Disposition of Licensed Products upon Termination
	  	 	21	 
			
	14.	 	 Patent Prosecution and Maintenance
	  	 	21	 
			
	15.	 	 Marking
	  	 	23	 
			
	16.	 	 Use of Names and Trademarks
	  	 	23	 
			
	17.	 	 Limited Warranties and Covenants
	  	 	23	 
			
	18.	 	 Patent Infringement
	  	 	25	 
			
	19.	 	 Indemnification and Insurance
	  	 	26	 
			
	20.	 	 Compliance with Laws
	  	 	28	 
			
	21.	 	 Government Approval or Registration
	  	 	28	 
			
	22.	 	 Assignment
	  	 	29	 
			
	23.	 	 Notices
	  	 	29	 
			
	24.	 	 Late Payments
	  	 	29	 

  
 i 

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

							
			
	25.	 	 Waiver
	  	 	29	 
			
	26.	 	 Confidentiality
	  	 	30	 
			
	27.	 	 Force Majeure
	  	 	31	 
			
	28.	 	 Severability
	  	 	31	 
			
	29.	 	 Applicable Law; Venue; Attorneys’ Fees
	  	 	31	 
			
	30.	 	 Electronic Copy; Counterparts
	  	 	32	 
			
	31.	 	 Scope of Agreement; Amendment; Waiver
	  	 	32	 

  
 ii 

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

			
	 UNIVERSITY OF CALIFORNIA, BERKELEY
  

OFFICE OF TECHNOLOGY LICENSING
	  	

  
  

EXCLUSIVE LICENSE AND BAILMENT AGREEMENT 

FOR 
 ADENO-ASSOCIATED
VIRUS SEROTYPE 2 (AAV2) CAPSID MUTANTS 
 WITH NOVEL PROPERTIES FOR ENHANCED PERFORMANCE FOR GENE THERAPY 

UC Case No.: B03-104 
  

 
 This exclusive license agreement
(“Agreement”) is effective December 19, 2013 (“Effective Date”), by and between THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, a California corporation, whose legal address is 1111 Franklin Street, 12th Floor, Oakland,
California 94607-5200, acting through its Office of Technology Licensing, at the University of California, Berkeley, 2150 Shattuck Avenue, Suite 510, Berkeley, CA 94704-1347 (“REGENTS”) and 4D MOLECULAR THERAPEUTICS LLC, a Delaware
limited liability company having a principal place of business at 19 Rima Court, Danville, CA 94526 (“LICENSEE”). The parties agree as follows: 
  

	1.	 BACKGROUND 

  

	 	1.1	 An invention, generally described as “[***]” and disclosed in REGENTS’ Case No. B03-104 (the
“INVENTION”), was jointly made in the course of research at the University of California, Berkeley by [***], employed by REGENTS, and at Integrative Gene Therapeutics, San Diego, California (“IGT”) by [***], employed by
Integrative Gene Therapeutics. 

  

	 	1.2	 REGENTS’ employees [***] have assigned to REGENTS their undivided interest in PATENT RIGHTS (as defined
below). 

  

	 	1.3	 IGT’s employee [***] has assigned his undivided interest to IGT in PATENT RIGHTS. 

 

	 	1.4	 REGENTS and IGT entered into an Interinstitutional Agreement (the “IIA”) on August 28, 2003,
Agreement Control No.: 2004-18-0020, that is attached to this Agreement as Exhibit A, under which IGT agrees not to license its undivided interest in PATENT
RIGHTS during the term of the IIA. 

  

	 	1.5	 LICENSEE entered into a letter agreement with REGENTS effective March 5, 2013, terminating on
December 5, 2013, for the purpose of evaluating the INVENTION and granting LICENSEE an exclusive right to negotiate an exclusive license in PATENT RIGHTS to the INVENTION, which letter agreement covers LICENSEE’s commitment to reimburse
REGENTS’ patent costs during such period. 

  
 Page 3 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	1.6	 LICENSEE has provided REGENTS with a commercialization plan for the INVENTION and business strategy in order to
evaluate its capabilities as a LICENSEE. 

  

	 	1.7	 REGENTS, IGT and LICENSEE wish to have the INVENTION perfected and marketed as soon as reasonably practicable
so that products resulting therefrom may be available for public use and benefit. 

  

	 	1.8	 LICENSEE wishes to acquire, and REGENTS wishes to grant to LICENSEE, an exclusive license under PATENT RIGHTS
and an exclusive bailment of the BIOLOGICAL MATERIAL included in the REGENTS’ PROPERTY RIGHTS for the purpose of undertaking development and to make, have made, use, sell, offer for sale, import, and export LICENSED PRODUCTS as defined below.

  

	 	1.9	 REGENTS and LICENSEE are simultaneously entering into a license agreement covering the inventions under
REGENTS’ Case No. B13-135 (the “OTHER LICENSE AGREEMENT”). 

  

	2.	 DEFINITIONS 

  

	 	2.1	 “PATENT RIGHTS” means the intellectual property rights in the following patents and patent
applications: 

  

	 	2.1.1	 [***]; 

  

	 	2.1.2	 [***]; 

  

	 	2.1.3	 [***]; 

  

	 	2.1.4	 [***]; 

  

	 	2.1.5	 [***]; 

  

	 	2.1.6	 [***]; 

  

	 	2.1.7	 [***]; 

  

	 	2.1.8	 [***]; 

  

	 	2.1.9	 [***]; 

  

	 	2.1.10	 [***]; and 

  

	 	2.1.11	 All continuing applications of the foregoing, including divisionals, substitutions, extensions and continuation-in-part applications (only to the 

  
 Page 4 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
extent, however, that claims in the continuation-in-part applications are entitled to the priority filing date of
the parent patent application); any patents issuing on said application or continuing applications, including all reexaminations, reissues, and extensions thereof; and any corresponding foreign patents or applications. 

 

	 	2.2	 “LICENSED PRODUCTS” means all kits, compositions of matter, articles of manufacture, materials, and
products, the manufacture, use, SALE, offer for SALE, or import of which: (a) would require the performance of the LICENSED METHOD; or (b) but for the license granted pursuant to this Agreement, would infringe, or contribute to or induce
the infringement of, a VALID CLAIM of any issued, unexpired patent under PATENT RIGHTS or a VALID CLAIM being prosecuted in a pending patent application under PATENT RIGHTS. 

 

	 	2.3	 “LICENSED METHOD” means any process or method, the use or practice of which, but for the license
pursuant to this Agreement, would infringe, or contribute to or induce the infringement of, a VALID CLAIM of any issued patent or pending patent application under PATENT RIGHTS in that country in which the LICENSED METHOD is used or practiced.

  

	 	2.4	 “VALID CLAIM” means (i) a claim in an issued and unexpired patent included in the PATENT RIGHTS
that has not been disclaimed, abandoned or withdrawn and has not been held unenforceable or invalid by a final judgment of a court or other governmental agency of competent jurisdiction from which no appeal can be or is taken, and has not been
admitted to be invalid or unenforceable through reissue or disclaimer or otherwise, or (ii) a claim in a pending patent application included within the PATENT RIGHTS that has been filed in good faith and has not been abandoned or finally
disallowed without the possibility of appeal or refiling, which application has not been pending for more than [***] ([***]) years after its priority date, provided that for clarity, any claim of a pending patent application that is pending for more
than [***] ([***]) years after its priority date shall be eligible to become a VALID CLAIM if it later issues and otherwise falls within subsection (i). 

  

	 	2.5	 “LICENSED FIELD OF USE” means all fields of use, except the ophthalmic field of use.

  

	 	2.6	 “NET SALES” means the gross invoice price charged by, and the fair market value of non-cash consideration paid to, LICENSEE for SALES of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS, less the sum of the following actual and customary deductions where applicable: (i) the actual
amount of write-offs for bad debts (in accordance with generally accepted accounting principles and that would reasonably be taken by a similarly situated company) related to such SALES; (ii) cash, prompt pay, trade or quantity discounts;
(iii) sales tax, use tax, consumption tax, Deductible Value Added Tax, tariffs, import/export duties or other excise taxes when included in gross sales, but not income taxes derived from such sales; (iv) transportation charges; and

  
 Page 5 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
(v) allowances or credits to customers because of rejections or returns. For purposes of calculating NET SALES, NET SALES shall not include any SALE of LICENSED PRODUCTS, LICENSED SERVICES,
or LICENSED METHODS used for development purposes (including, without limitation for clinical studies) or provided as samples or free goods (including, without limitation, product transferred in connection with patient assistance programs or other
charitable purposes); and a SALE to a sublicensee that is not intended for end use shall not be included in NET SALES. “Deductible Value Added Tax” is value added tax to the extent that is not subject to a tax credit, refund or deduction
by a taxing authority. 

 In the event that LICENSED PRODUCTS, LICENSED SERVICES or LICENSED METHODS are COMBINATION PRODUCTS,
the NET SALES of such COMBINATION PRODUCT, for the purposes of determining royalty payments pursuant to this Agreement, shall be determined by multiplying the NET SALES of the COMBINATION PRODUCT (as defined below) during the applicable royalty
reporting period, by the fraction A/(A+B), where A is the fair market value of the LICENSED PRODUCTS, LICENSED SERVICES or LICENSED METHODS, and B is the fair market value of all OTHER COMPONENTS included in the COMBINATION PRODUCT. If a COMBINATION
PRODUCT is sold, whether or not the OTHER COMPONENTS are also sold separately, LICENSEE shall make a good faith determination of the respective fair market values of the LICENSED PRODUCT, LICENSED SERVICES or LICENSED METHODS and all OTHER
COMPONENTS included in the COMBINATION PRODUCT, and shall notify REGENTS of such determination and provide REGENTS with data to support such determination. 
  

	 	2.7	 “COMBINATION PRODUCT” means a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD that incorporates
at least one OTHER COMPONENT. For clarity, all references to “LICENSED PRODUCTS, LICENSED SERVICES or LICENSED METHODS” in this Agreement shall be deemed to include COMBINATION PRODUCTS. 

 

	 	2.8	 “OTHER COMPONENT” means a proprietary active therapeutic ingredient or a delivery device, in each
case that is not itself a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD. 

  

	 	2.9	 “AFFILIATE” of LICENSEE means any entity that, directly or indirectly, Controls LICENSEE, is
Controlled by LICENSEE, or is under common Control with LICENSEE. “Control” means (i) having the actual, present capacity to elect a majority of the directors of such affiliate, (ii) having the power to direct at least fifty
percent (50%) of the voting rights entitled to elect directors, or (iii) in any country where the local law will not permit foreign equity participation of a majority, ownership or control, directly or indirectly, of the maximum percentage of
such outstanding stock or voting rights permitted by local law. 

  
 Page 6 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	2.10	 “LICENSED TERRITORY” means United States of America, its territories and possessions, and subject to
Paragraph 14.4, any foreign countries where PATENT RIGHTS exist. 

  

	 	2.11	 “SALE” means, for LICENSED PRODUCTS and LICENSED SERVICES, the act of selling, leasing or otherwise
transferring, providing, or furnishing such product or service, and for LICENSED METHODS, the act of performing such method for any consideration. Correspondingly, “SELL” means to make or cause to be made a SALE, and “SOLD” means
to have made or caused to be made a SALE. 

  

	 	2.12	 “LICENSED SERVICE” means a service provided using LICENSED PRODUCTS or LICENSED METHODS.

  

	 	2.13	 “NON-ROYALTY SUBLICENSE REVENUE” means any cash
consideration, and subject to Paragraph 4.3(b), the cash equivalent of all other consideration, received by LICENSEE under each sublicense for the grant of rights under the PATENT RIGHTS, but excluding: (a) any royalty payments on sales of
LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHODS by a sublicensee (which shall be included as EARNED ROYALTY SUBLICENSE REVENUE); (b) any amounts paid by a sublicensee as bona fide reimbursement for research and development costs at fair
market value for materials and full time equivalents; (c) bona fide loans or any payments in consideration for a grant of equity of the LICENSEE at fair market value; (d) amounts paid for supplies of product or other tangible materials;
(e) amounts paid as reimbursement for expenses directly related to the pursuit, maintenance, and/or defense of PATENT RIGHTS; (f) milestone payments by a sublicensee for a product, service, or method that is not a LICENSED PRODUCT,
LICENSED SERVICE, or LICENSED METHOD; (g) payments by a sublicensee for use of the BIOLOGICAL MATERIALS to identity or optimize products, services, or methods that are not LICENSED PRODUCTS, LICENSED SERVICES, or LICENSED METHODS;
(h) withholding taxes and any other amounts by a sublicensee from amounts otherwise payable to LICENSEE under such sublicense agreement other than past due payments; and (i) payments for the supply of LICENSED PRODUCTS or materials used in
the performance of LICENSED SERVICES or LICENSED METHODS. Without limiting the foregoing, the parties agree that NON-ROYALTY SUBLICENSE REVENUE shall not include consideration received by LICENSEE from a
sublicensee that is not received in consideration for the grant of rights under the PATENT RIGHTS to make, use, offer for SALE, import, and SELL LICENSED PRODUCTS and LICENSED SERVICES, and to practice LICENSED METHODS. 

 

	 	2.14	 “EARNED ROYALTY SUBLICENSE REVENUE” means any royalty payments received by LICENSEE pursuant to an
agreement between LICENSEE and a sublicensee pursuant to which such sublicensee receives a sublicense under the PATENT RIGHTS, on SALES of LICENSED PRODUCTS, LICENSED 

  
 Page 7 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
SERVICES and LICENSED METHODS by such sublicensee (which sales shall not be included as NET SALES). 

  

	 	2.15	 “FIRST QUALIFIED ROUND” occurs on the first date on which the LICENSEE has received, in aggregate in
excess of [***] US Dollars ($[***]) from any one of or combination of equity financing, convertible debt financing, unrestricted grants, or the acquisition of all or substantially all of LICENSEE’s limited liability company interests, assets or
business; provided, however, that [***]. 

  

	 	2.16	 “FOUNDERS” means [***] and [***]. 

 

	 	2.17	 “PHASE I CLINICAL TRIAL” means a human clinical trial in any country that would satisfy the
requirements of 21 CFR 312.21(a). 

  

	 	2.18	 “PHASE IIB CLINICAL TRIAL” means a human clinical trial in any country that would satisfy the
requirements of 21 CFR 312.21(b) and that is designed to support and immediately precede the initiation of a Phase III Clinical Trial without any further phase II trials by evaluating the dose-dependent effectiveness of a pharmaceutical product for
a particular indication or indications in patients with the disease or condition under study and to determine the common side effects and risks associated with the pharmaceutical product. 

 

	 	2.19	 “PHASE III CLINICAL TRIAL” means a human clinical trial in any country that would satisfy the
requirements of 21 CFR 312.21(c). 

  

	 	2.20	 “REGENTS’ PROPERTY RIGHTS” means all of REGENTS’ personal property rights in the tangible
property in the INVENTION licensed hereunder and to the BIOLOGICAL MATERIALS. REGENTS’ PROPERTY RIGHTS do not include PATENT RIGHTS. 

  

	 	2.21	 “BIOLOGICAL MATERIALS” shall have the meaning set forth in Article 1 of the Letter Agreement between
REGENTS and LICENSEE, dated as of even date herewith (the “MTA”). 

  

	3.	 GRANT 

  

	 	3.1        (a)	 Subject to the limitations set forth in this Agreement, and the rights reserved in Paragraph 3.3, REGENTS
hereby grants and LICENSEE hereby accepts an exclusive license under PATENT RIGHTS to make, use, offer for SALE, import, and SELL LICENSED PRODUCTS and LICENSED SERVICES, and to practice LICENSED METHODS, in the LICENSED FIELD OF USE in the LICENSED
TERRITORY. 

  

	 	(b)	 Subject to the limitations set forth in this Agreement, REGENTS hereby grants and LICENSEE hereby accepts an
exclusive bailment and license under REGENTS’ PROPERTY RIGHTS to possess, make and use the BIOLOGICAL MATERIAL. LICENSEE acknowledges that the 

  
 Page 8 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
REGENTS is and will remain the sole owner of the BIOLOGICAL MATERIAL and the title of the material is not transferred to LICENSEE under this Agreement. 

 

	 	(c)	 REGENTS have provided the LICENSEE with BIOLOGICAL MATERIAL in quantities as set forth in the MTA. No
additional obligation is required of REGENTS’ with respect to bailment of the BIOLOGICAL MATERIAL. 

 This Agreement
is subject to IGT’s rights under the IIA. 
  

	 	3.2	 The licenses under Paragraph 3.1 will be exclusive for a term commencing on the Effective Date and ending on
the date of the last-to-expire VALID CLAIM under PATENT RIGHTS. 

  

	 	3.3	 Nothing in this Agreement will be deemed to limit the right of REGENTS and IGT to publish any and all technical
data resulting from any research performed by REGENTS and IGT relating to the INVENTION and the BIOLOGICAL MATERIAL REGENTS and IGT expressly reserve the right to use the INVENTION, the BIOLOGICAL MATERIAL and related technology for its educational
and research purposes; to disseminate the BIOLOGICAL MATERIAL and other tangible materials associated with, or required to practice the INVENTION and/or the PATENT RIGHTS to researchers at nonprofit institutions for their educational and research
purposes and to permit other nonprofit institutions to use such BIOLOGICAL MATERIAL to practice the PATENT RIGHTS for education and research purposes. 

  

	 	3.4	 This Agreement will terminate immediately if LICENSEE files a claim asserting that any portion of the PATENT
RIGHTS is invalid or unenforceable where the filing is by the LICENSEE, a third party on behalf of the LICENSEE, or a third party at the written urging of the LICENSEE. 

 

	 	3.5	 LICENSEE will have a continuing responsibility to keep REGENTS informed of the large/small entity status, as
defined in 15 U.S.C. 632, of itself and its sublicensees. 

  

	4.	 SUBLICENSES 

  

	 	4.1	 REGENTS also grants to LICENSEE the right to sublicense to AFFILIATES and third parties the right to make, use,
offer for SALE, import, and SELL LICENSED PRODUCTS and LICENSED SERVICES, and to practice LICENSED METHODS, provided that LICENSEE has exclusive rights under this Agreement at the time of sublicensing. LICENSEE will notify REGENTS of each sublicense
granted hereunder and furnish to REGENTS a copy of each such sublicense agreement, which shall be treated as confidential information of LICENSEE. Every such sublicense will include: 

  
 Page 9 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	(a)	 a statement setting forth the term after which LICENSEE’s exclusive rights, privileges, and license
hereunder will expire; 

  

	 	(b)	 as applicable, all the rights of, and require the performance of all the obligations due to, REGENTS under this
Agreement, other than those rights and obligations specified in Article 5 (License Issue Fee) and Article 6 (Royalties), for which LICENSEE shall remain responsible; and 

 

	 	(c)	 the same provision for indemnification of REGENTS as has been provided for in this Agreement.

  

	 	4.2	 To the extent permitted under the sublicense agreement, a sublicensee shall have the right to grant further
sublicenses to its AFFILIATE and third parties to the extent such sublicensee deems such further sublicense to be commercially reasonable, useful or necessary for the development and/or commercialization of LICENSED PRODUCT(S) or LICENSED METHOD(S)
in accordance with this Agreement; provided that (i) such further sublicense is subject to a written sublicense agreement and is bound by all of the applicable terms, conditions, obligations, restrictions and other covenants of this Agreement
that protect or benefit the REGENTS’ rights and interests under this Agreement, and (ii) the sublicensee shall, within [***] ([***]) days after issuing any further sublicense, furnish to LICENSEE for delivery to REGENTS, subject to any
confidentiality provisions with third parties, all material terms of any such sublicenses, pertaining to the REGENTS’ interests, including the sublicensee’s name and address, and indemnification of REGENTS as provided in this Agreement.

  

	 	4.3	 LICENSEE will pay to REGENTS (i) [***] percent ([***]%) of NON-ROYALTY
SUBLICENSE REVENUE and (ii) [***] percent ([***]%) of EARNED ROYALTY SUBLICENSE REVENUE, provided that in no event will the EARNED ROYALTY SUBLICENSE REVENUE due to REGENTS on sales of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHODS by a
sublicensee be less than [***] percent ([***]%) of net sales of such sublicensee (which for purposes of this Paragraph 4.3 shall be calculated as though such sublicensee were LICENSEE under Paragraph 2.6. 

 

	 	(a)	 In the event LICENSEE sublicenses the PATENT RIGHTS along with its own patent rights or those of other third
parties, LICENSEE may reasonably determine in good faith the percentage of compensation received under such sublicense that represents consideration due for the grant of the rights under the PATENT RIGHTS, which percentage will be based upon the
value of the PATENT RIGHTS licensed to the sublicensee relative to the value of LICENSEE’s own patent rights or the other third party patent rights licensed to the sublicensee. When making payment under this Paragraph 4.3(a), LICENSEE shall
provide REGENTS with all supporting information and documentation used to determine any such percentage (or shall reference previously provided supporting information and documentation).

  
 Page 10 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
Notwithstanding the foregoing, in no case will LICENSEE be permitted to reduce the compensation to REGENTS under this Paragraph 4.3(a) in connection with LICENSEE’s own patent rights or
those of third parties by more than [***] percent ([***]%). 

  

	 	(b)	 If the consideration received is equity and approval to accept equity is granted by REGENTS, then the LICENSEE
will transfer [***] percent ([***]%) of the equity LICENSEE receives to REGENTS or REGENTS’ nominee. REGENTS will promptly notify the LICENSEE upon REGENTS’ Office of the President’s approval for the equity. If equity is not accepted,
then the LICENSEE will pay REGENTS’ portion in cash once the equity is liquidated. 

  

	 	(c)	 LICENSEE shall not be required to pay REGENTS more than [***] percent ([***]%) of NON-ROYALTY SUBLICENSE REVENUE and [***] percent ([***]%) of EARNED ROYALTY SUBLICENSE REVENUE even if LICENSEE sublicenses the PATENT RIGHTS under this Agreement and the patent rights under the OTHER LICENSE
AGREEMENT. All amounts paid under this Paragraph 4.3 shall be credited against amounts due for the same LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE under Paragraph 4.3 of the OTHER LICENSE AGREEMENT. 

 

	 	4.4	 AFFILIATES will have no licenses under PATENT RIGHTS except as granted by sublicense pursuant to this
Agreement. 

  

	 	4.5	 For the purposes of this Agreement, the activities of all sublicensees pursuant to any sublicense shall be
deemed to be the activities of LICENSEE, for which LICENSEE shall be responsible. 

  

	 	4.6	 LICENSEE will collect payment of all monies and other consideration due REGENTS from sublicensees, and deliver
all reports due REGENTS and received from sublicensees. 

  

	 	4.7	 Upon termination of this Agreement for any reason, all sublicenses that are granted by LICENSEE pursuant to
this Agreement, where the sublicensee is in compliance with its sublicense agreement as of the date of such termination, will remain in effect and will be assigned to REGENTS, except that REGENTS will not be bound to perform any duties or
obligations set forth in any sublicenses that extend beyond the duties and obligations of REGENTS set forth in this Agreement. 

  

	 	4.8	 If REGENTS (to the extent of the actual knowledge of the licensing professional responsible for administration
of this case) discovers, or a third party discovers and notifies that licensing professional, that the INVENTION is [***] for an application covered by the LICENSED FIELD OF USE, but for which LICENSED PRODUCTS have not been developed or are not
currently under development by LICENSEE, then REGENTS, as represented by the Office of Technology 

  
 Page 11 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
Licensing, shall give written notice to LICENSEE, except for: (1) information that is subject to restrictions of confidentiality with third parties, and (2) information which originates
with REGENTS’ personnel who do not assent to its disclosure to LICENSEE. REGENTS shall endeavor to provide to LICENSEE, at a minimum, a description of the nature and scope of the proposed sublicense sufficient for LICENSEE to evaluate its
desire to develop and commercialize products for the relevant application as provided in this Paragraph 4.8. 

 LICENSEE shall
have [***] ([***]) days to give REGENTS written notice stating whether LICENSEE elects to develop LICENSED PRODUCTS for such application. 

If LICENSEE elects to develop and commercialize the proposed LICENSED PRODUCTS for such application, LICENSEE shall submit progress reports
with respect thereto to REGENTS pursuant to Article 8. 
 If LICENSEE elects not to develop and commercialize the proposed LICENSED PRODUCTS
for such application, REGENTS may seek a third party(ies) to develop and commercialize the proposed LICENSED PRODUCTS for such application. If REGENTS is successful in finding a third party, it shall refer such third party to LICENSEE. If the third
party requests a sublicense under this Agreement for such application, then LICENSEE shall report the request to REGENTS within [***] ([***]) days from the date of such written request. If the request results in a sublicense, then LICENSEE shall
notify REGENTS pursuant to Paragraph 4.1. 
 If LICENSEE refuses to grant a sublicense to such third party, then within [***] ([***]) days
after such refusal, LICENSEE shall submit to REGENTS a report specifying the license terms proposed by the third party and a written justification for LICENSEE’s refusal to grant the proposed sublicense. If REGENTS, [***], determines that
[***], then REGENTS shall [***], provided that [***]. 
  

	5.	 LICENSE ISSUE FEE 

 

	 	5.1	 LICENSEE will pay to REGENTS a non-creditable, non-refundable license issue fee as follows: 

  

	 	(a)	 Five Thousand U.S. Dollars ($5,000) within [***] ([***]) days following the Effective Date of this Agreement;

  

	 	(b)	 If approval to accept equity in LICENSEE is granted by REGENTS in accordance with this Agreement, then within
[***] ([***]) days following the date on which the ACCEPTANCE NOTICE (as defined below) is received by the LICENSEE, LICENSEE shall issue to REGENTS’ nominee (under the terms of a mutually agreed upon unit purchase agreement to be executed by
the parties), an interest in LICENSEE (a “MEMBERSHIP INTEREST”) which shall be non-voting, with an allocation percentage with 

  
 Page 12 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
respect to profits and losses equal to three percent (3%) as of close of the FIRST QUALIFIED ROUND; if all or a portion of the FIRST QUALIFIED ROUND involves convertible securities which will not
convert into MEMBERSHIP INTERESTS until a subsequent financing event, then at the time of the conversion of those securities into MEMBERSHIP INTERESTS, the LICENSEE shall issue additional MEMBERSHIP INTERESTS to REGENTS such that REGENTS’
allocation percentage with respect to profits and losses continues to equal three percent (3%) as of the FIRST QUALIFIED ROUND (following the conversion of any convertible securities such as convertible debt issued at the FIRST QUALIFIED ROUND).
LICENSEE further agrees that as holders of MEMBERSHIP INTERESTS REGENTS shall receive the same anti-dilution treatment as any other MEMBERSHIP INTERESTS held by either of the FOUNDERS as of the date of this
Agreement. REGENTS may transfer or direct LICENSEE to transfer an inventor share portion of the MEMBERSHIP INTERESTS to be issued pursuant to this Section 5.1(b) under REGENTS’ patent policy of the shares otherwise due to REGENTS to the
REGENTS’ inventors of PATENT RIGHTS notwithstanding the provisions of other contracts associated with the transfer of the shares. 

LICENSEE will promptly notify REGENTS following the close of the FIRST QUALIFIED ROUND. Following receipt of notice of the closing of the
FIRST QUALIFIED ROUND, REGENTS will promptly notify the LICENSEE upon REGENTS’ Office of the President’s approval for the equity (the “ACCEPTANCE NOTICE”). If REGENTS’ Office of the President does not provide an ACCEPTANCE
NOTICE to LICENSEE within [***] ([***]) days following the close of the FIRST QUALIFIED ROUND, then Fifty Thousand U.S. Dollars ($50,000) shall be due [***] in lieu of the MEMBERSHIP INTERESTS to be issued under this Section 5.1(b). 

 

	 	5.2	 LICENSEE will also pay to REGENTS a license maintenance fee of Five Thousand U.S. Dollars ($5,000) on the one
(1) year anniversary date of the Effective Date and on each anniversary of the Effective Date thereafter. Notwithstanding the foregoing, the license maintenance fee will not be due and payable on any anniversary of the Effective Date, if on
such date the LICENSEE or a sublicensee is selling or otherwise exploiting LICENSED PRODUCTS or LICENSED METHODS, and LICENSEE pays an earned royalty to REGENTS on the NET SALES of such LICENSED PRODUCTS or LICENSED METHODS or a payment on EARNED
ROYALTY SUBLICENSE REVENUE. 

  

	6.	 ROYALTIES 

  

	 	6.1	 LICENSEE will pay to REGENTS earned royalties at the rate of [***] percent ([***]%) of NET SALES of LICENSEE,
subject to the following: 

  
 Page 13 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	(a)	 If LICENSEE is required to make any payment (including royalties or other license fees) to a third party to
obtain any intellectual property rights in the absence of which LICENSEE could not practice PATENT RIGHTS, such third party payments will be credited against royalties owed hereunder by LICENSEE to REGENTS, provided that in no one [***] will the
total of such credits reduce earned royalties owed by LICENSEE to REGENTS by more than [***] percent ([***]%). 

  

	 	(b)	 In the event a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD are SOLD to end users, and the total
combined royalty burden to LICENSEE on NET SALES (including royalties due to REGENTS under this Agreement and royalties due to third parties on such NET SALES) exceeds [***] percent ([***]%), the earned royalty due to REGENTS will be adjusted,
according to the following formula, [***]: 

 Adjusted royalty = [***] 

For example, [***]. 
  

	 	(c)	 Only one royalty will be due to REGENTS on any given LICENSED PRODUCT, LICENSED METHOD and LICENSED SERVICE.
All amounts paid under this Paragraph 6.1 shall be credited against amounts due for the same LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE under Paragraph 6.1 of the OTHER LICENSE AGREEMENT. 

 

	 	6.2	 Royalties accruing to REGENTS will be paid to REGENTS [***] within [***] ([***]) days after the end of
each [***]. 

  

	 	6.3	 Royalties will be payable on NET SALES of LICENSED PRODUCTS, LICENSED METHODS and LICENSED SERVICES covered by
VALID CLAIMS of both pending patent applications and issued patents. 

  

	 	6.4	 LICENSEE will pay to REGENTS milestone payments as follows, provided that all amounts paid under this Paragraph
6.4 shall be credited against amounts due with respect to NON-ROYALTY SUBLICENSE REVENUE pursuant to Paragraph 4.3: 

  

	 	(a)	 LICENSEE shall pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD and; 

  

	 	(b)	 LICENSEE shall pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD; 

  
 Page 14 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	(c)	 LICENSEE will pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD; 

  

	 	(d)	 LICENSEE will pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD; 

  

	 	(e)	 LICENSEE will pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD; and 

  

	 	(f)	 LICENSEE will pay to REGENTS a milestone payment of [***] U.S. Dollars ($[***]) within [***] ([***]) days of
[***] for the first LICENSED PRODUCT or LICENSED METHOD, [***]. 

 Only the milestones listed in this Paragraph 6.4 will be
due on any given LICENSED PRODUCT or LICENSED METHOD, even if such milestone is payable under this Agreement and under the OTHER LICENSE AGREEMENT. All amounts paid under this Paragraph 6.4 shall be credited against amounts due for the same LICENSED
PRODUCT or LICENSED METHOD under Paragraph 6.4 of the OTHER LICENSE AGREEMENT. 
  

	 	6.5	 Beginning in the first calendar year after the year in which the first occurrence of NET SALES takes place, and
each succeeding calendar year thereafter, LICENSEE will pay to the REGENTS a minimum annual royalty of [***] U.S. Dollars ($[***]), increasing by [***] Dollars ($[***]) every year thereafter but capped at a total of One Hundred Thousand Dollars
($100,000) per year in minimum royalties for the remainder of the term of this Agreement. This minimum annual royalty will be paid to REGENTS by [***] of the year following each applicable calendar year and will be credited against by the earned
royalties (including royalty payments based on NET SALES and payments based on EARNED ROYALTY SUBLICENSE REVENUE due pursuant to Sections 6.1 and 4.3, respectively) paid for the [***] calendar year for which the minimum payment is made, whether
under this Agreement or the OTHER LICENSE AGREEMENT. 

 Only one minimum annual royalty will be due under this Agreement
and under the OTHER LICENSE AGREEMENT. All amounts paid under this Paragraph 6.5 shall be credited against amounts due under Paragraph 6.5 of the OTHER LICENSE AGREEMENT. 
  

	 	6.6	 All payments due REGENTS will be payable in United States dollars. When LICENSED PRODUCTS, LICENSED SERVICES,
or LICENSED METHODS are SOLD for monies other than United States dollars, earned royalties will first be determined in the foreign currency of the country in which the SALE was made and then converted into equivalent United States dollars. The
exchange rate will be that rate quoted in the Wall Street Journal on the last business day of the reporting period. 

  
 Page 15 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	6.7	 In the event that any royalties or other payments due to REGENTS are subject to withholding tax required by
applicable law to be paid by LICENSEE to the taxing authority of any foreign country on REGENTS’ behalf, LICENSEE may deduct the amount of such tax from the applicable royalties or other payment otherwise payable to REGENTS. In such event,
LICENSEE shall pay the taxes to the proper taxing authority and shall send evidence of the obligation together with proof of payment to REGENTS following such payment and shall reasonably cooperate with REGENTS in its efforts to avoid or minimize
such withholding obligations and/or to obtain credit for payment thereof. To the extent that such amounts are so withheld and remitted to the proper taxing authority by LICENSEE, such withheld amounts shall be treated for all purposes of this
Agreement as having been paid to the party in respect of whom such deduction and withholding was made. LICENSEE will be responsible for all bank transfer charges. 

 

	 	6.8	 LICENSEE will make all payments under this Agreement by check payable to “The Regents of the University of
California” and sent to REGENTS at the address shown in Article 23 (Notices). 

  

	 	6.9	 For the avoidance of doubt, if any patent or patent application, or any claim thereof, included within PATENT
RIGHTS expires or is held invalid in a final decision by a court of competent jurisdiction and last resort and from which no appeal has been or can be taken, all obligation to pay royalties based on such patent, patent application or claim, or any
claims patentably indistinct therefrom will cease as of the date of such expiration or final decision. LICENSEE will not, however, be relieved from paying any royalties that accrued before such expiration or decision or that are based on another
valid patent or claim not expired or involved in such decision. 

  

	 	6.10	 No royalties will be collected or paid hereunder on LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS
distributed to or used by the United States Government. LICENSEE agrees to reduce the amount charged for LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS distributed to the United States Government by an amount equal to the royalty for
such LICENSED PRODUCTS otherwise due REGENTS as provided herein. 

  

	7.	 DUE DILIGENCE 

 

	 	7.1	 LICENSEE, upon execution of this Agreement, will diligently proceed with the development, manufacture, and SALE
of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS, and will diligently market them in quantities sufficient to meet the market demand. 

  
 Page 16 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	7.2	 In addition to its obligations under Paragraph 7.1, LICENSEE will perform the following due diligence
activities under this Agreement, through itself and/or its sublicensees: 

  

	 	(a)	 [***] within [***] ([***]) months after the Effective Date. 

 

	 	(b)	 [***] within [***] ([***]) months of [***]. 

 

	 	(c)	 [***] within [***] ([***]) months after [***]. 

 

	 	(d)	 [***] within [***] ([***]) months of [***]. 

 

	 	(e)	 [***] within [***] ([***]) months after [***]. 

If LICENSEE has failed to meet any of its diligence obligations set forth in Paragraphs 7.1 and 7.2, through itself and/or its sublicensees, as
applicable, then REGENTS will so notify LICENSEE in writing of its failure to perform. 
  

	 	7.3	 LICENSEE will have the right and option to extend the target date of any such due diligence obligation (and
each subsequent milestone due thereafter) for a period of [***] ([***]) months upon the payment of [***] dollars ($[***]) within [***] ([***]) days after the date to be extended, for each such extension option exercised by LICENSEE. LICENSEE may
further extend the target date of any diligence obligation (and each subsequent milestone due thereafter) for an additional [***] ([***]) months upon payment of an additional [***] dollars ($[***]). These payments are in addition to the minimum
royalty payments specified in Paragraph 6.5. Additional extensions may be granted only by mutual written agreement of the parties to this Agreement. In the event that Licensee is unable to meet the timeframes in Paragraph 7.2, as extended by this
Paragraph 7.3, despite using diligent efforts to do so, taking into account delays which are due to factors (including technical or regulatory issues) which are outside of the reasonable control of LICENSEE, REGENTS and LICENSEE agree to discuss
extending such timeframes and target dates in good faith; provided, however, that in no case is REGENTS bound to agree to cumulative extensions longer than [***] ([***]) years unless REGENTS concludes in its sole discretion that such
an extension is appropriate. 

  

	 	7.4	 Should LICENSEE opt not to extend such timeframes or fail to use diligent efforts to meet a diligence
obligation by the extended target date, then subject to Paragraph 7.6, REGENTS will have the right and option either to terminate this Agreement or to reduce LICENSEE’s exclusive license to a
non-exclusive royalty-bearing license. This right, if exercised by REGENTS, supersedes the rights granted in Article 3. The right to terminate this Agreement or reduce
LICENSEE’s exclusive license granted hereunder to a non-exclusive license will be REGENTS’ sole remedy for breach of Paragraphs 7.1 or 7.2. 

  
 Page 17 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	7.5	 At the request of either party, any controversy or claim arising out of or relating to the diligence provisions
of Paragraphs 7.1 and 7.2 will be settled by arbitration conducted in San Francisco, California in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association but such arbitration must be requested by a
party within the sixty (60) day cure period set forth in Paragraph 7.6, except as otherwise provided in Paragraph 7.6 or unless the parties mutually agree later to arbitration hereunder. Judgment upon the award rendered by the arbitrator(s)
will be binding on the parties and may be entered by either party in any court having jurisdiction. In determination of due diligence, the arbitrator may determine solely the issues of fact or law with respect to LICENSEE’s rights under this
Agreement but will not have the authority to award monetary damages or grant equitable relief. 

  

	 	7.6	 To exercise either the right to terminate this Agreement or to reduce the license to a non-exclusive license for lack of diligence under Paragraphs 7.1 or 7.2, REGENTS will give LICENSEE written notice of the deficiency. LICENSEE thereafter has sixty (60) days to cure the deficiency or to request
arbitration in accordance with Paragraph 7.5. If REGENTS has not received a written request for arbitration or satisfactory tangible evidence that the deficiency has been cured by the end of the sixty (60) day period, then REGENTS may, at its
option, either terminate this Agreement or reduce LICENSEE’s exclusive license to a non-exclusive license by giving further written notice to LICENSEE. These notices will be subject to Article 23
(Notices). Notwithstanding the foregoing, in the event that LICENSEE disputes in good faith whether the deficiency was timely cured, it may seek resolution of such dispute pursuant to Article 7.5, and in such event, no termination of this Agreement
pursuant to this Article 7.6 may occur unless and until completion of such dispute resolution results in a determination that such deficiency has not been timely cured. 

 

	8.	 PROGRESS AND ROYALTY REPORTS 

 

	 	8.1	 For each [***] period beginning July 1, 2014, LICENSEE will submit to REGENTS a [***] progress report
covering LICENSEE’s activities related to the development and testing of all LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHODS and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These
progress reports will be made for all development activities until the first SALE occurs in the United States. 

  

	 	8.2	 Each progress report will be a sufficiently detailed summary of activities of LICENSEE and any sublicensees so
that REGENTS may evaluate and determine LICENSEE’s progress in development of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS, and in meeting its diligence obligations under Article 7, and will include (but not be limited to) the
following: summary of work completed and in progress; current schedule of anticipated events and milestones, including diligence milestones under Paragraph 7.2; anticipated market introduction dates for the LICENSED TERRITORY; and sublicensees’
activities during the reporting period. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	8.3	 LICENSEE also will report to REGENTS in its subsequent progress and royalty reports, the date of first SALE.

  

	 	8.4	 After the first SALE anywhere in the world, LICENSEE will make [***] royalty reports to REGENTS within [***]
([***]) days after [***]. Each such royalty report will include at least the following: 

  

	 	(a)	 The number of LICENSED PRODUCTS manufactured and the number SOLD; 

 

	 	(b)	 Gross revenue from SALE of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHODS; 

 

	 	(c)	 NET SALES pursuant to Paragraph 2.6; 

 

	 	(d)	 Total royalties due REGENTS; and 

 

	 	(e)	 Names and addresses of any new sublicensees. 

 

	 	8.5	 If no SALES have occurred during the reporting period, a statement to this effect is required in the royalty
report for that period. 

  

	 	8.6	 All reports under this Article 8 shall be treated as confidential information of LICENSEE.

  

	9.	 BOOKS AND RECORDS 

 

	 	9.1	 LICENSEE will keep full, true, and accurate books and records containing all particulars that are necessary for
the purpose of showing the amount of royalties payable to REGENTS and LICENSEE’s compliance with other obligations under this Agreement. Said books and records will be kept at LICENSEE’s principal place of business or the principal place
of business of the appropriate division of LICENSEE to which this Agreement relates. Said books and records and the supporting data will be open at all reasonable times during normal business hours upon reasonable notice, for [***] ([***]) years
following the end of the calendar year to which they pertain, for the inspection and audit by a mutually acceptable independent auditor engaged by REGENTS for the purpose of verifying LICENSEE’s royalty statement or compliance in other respects
with this Agreement. Such auditor will be bound to hold all information in confidence except as necessary to communicate LICENSEE’s non-compliance with this Agreement to REGENTS. 

 

	 	9.2	 The fees and expenses of REGENTS’ mutually acceptable independent auditor performing such an examination
will be borne by REGENTS. However, if an error 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
in underpaid royalties to REGENTS of more than [***] percent ([***]%) of the total royalties due for any year is discovered, then the fees and expenses of such auditor will be borne by LICENSEE.

  

	10.	 LIFE OF THE AGREEMENT 

 

	 	10.1	 Unless otherwise terminated by the operation of law or by acts of the parties in accordance with the terms of
this Agreement, this Agreement will be in force from the Effective Date and will remain in effect until the expiration of the last VALID CLAIM under this Agreement. 

 

	 	10.2	 Any termination of this Agreement shall not affect the rights and obligations set forth in the following
articles or paragraphs: 

  

			
	Article 2	  	Definitions
		
	Article 4	  	Sublicenses (only as to Paragraphs 4.2 and 4.7)
		
	Article 9	  	Books and Records
		
	Article 10	  	Life of the Agreement (only as to Paragraphs 10.2 and 10.3)
		
	Article 13	  	Disposition of Licensed Products Upon Termination
		
	Article 16	  	Use of Names and Trademarks
		
	Article 17	  	Limited Warranties
		
	Article 19	  	Indemnification and Insurance
		
	Article 23	  	Notices
		
	Article 24	  	Late Payments (only as to outstanding payments)
		
	Article 26	  	Confidentiality
		
	Article 28	  	Severability
		
	Article 29	  	Applicable Law; Venue; Attorney’s Fees

  

	 	10.3	 Any termination of this Agreement will not relieve LICENSEE of its obligation to pay any monies due or owing at
the time of such termination and will not relieve any obligations, of either party to the other party, established prior to termination. 

  

	11.	 TERMINATION BY REGENTS 

 

	 	11.1	 Except for breach of diligence obligations, which is set forth in Article 7, if LICENSEE should violate or fail
to perform any term of this Agreement, then 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
REGENTS may give written notice of such default (“Notice of Default”) to LICENSEE. If LICENSEE should fail to repair such default within sixty (60) days of the effective date of
such notice, REGENTS will have the right to terminate this Agreement, and the licenses herein, by a second written notice (“Notice of Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement will
automatically terminate on the effective date of such notice. Such termination will not relieve LICENSEE of its obligation to pay any royalty or license fees accrued at the time of such termination and will not impair any accrued rights of REGENTS.
These notices will be subject to Article 23 (Notices). 

  

	12.	 TERMINATION BY LICENSEE 

 

	 	12.1	 LICENSEE will have the right at any time to terminate this Agreement in whole or as to any portion of PATENT
RIGHTS by giving notice in writing to REGENTS. Such notice of termination will be subject to Article 23 (Notices) and termination of this Agreement will be effective ninety (90) days after the effective date of such notice.

  

	 	12.2	 Any termination pursuant to Paragraph 12.1 will not relieve LICENSEE of any obligation or liability accrued
hereunder prior to such termination or rescind anything done by LICENSEE or any payments made to REGENTS hereunder prior to the time such termination becomes effective, and such termination will not affect in any manner any rights of REGENTS arising
under this Agreement prior to such termination. 

  

	13.	 DISPOSITION OF LICENSED PRODUCTS UPON TERMINATION 

 

	 	13.1	 Upon termination of this Agreement by either party, for a period of [***] ([***]) days after the date of
termination, LICENSEE may complete and SELL any partially made LICENSED PRODUCTS and continue to render any previously commenced LICENSED SERVICES, and continue the practice of LICENSED METHODS; provided, however, that all such SALES will be subject
to the terms of this Agreement including, but not limited to, the payment of royalties at the rate and at the time provided herein and the rendering of reports thereon. 

 

	14.	 PATENT PROSECUTION AND MAINTENANCE 

 

	 	14.1	 REGENTS will diligently prosecute and maintain the United States and foreign patent applications and patents
under PATENT RIGHTS, subject to LICENSEE’S reimbursement of REGENTS’ out of pocket costs under Article 14.3 below. All patent applications and patents under PATENT RIGHTS will be held in the name of REGENTS and IGT. REGENTS will have sole
responsibility for retaining and instructing patent counsel, but continued use of such counsel at any point in the patent prosecution process, subsequent to the initial filing of a U.S. patent application covering the INVENTION, shall be subject to
the approval of LICENSEE. If LICENSEE rejects [***] of REGENTS’ choice of prosecution counsel, then REGENTS may select new prosecution counsel without 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
LICENSEE’s consent. REGENTS shall promptly provide LICENSEE with copies of all relevant documentation, including all responses at least [***] ([***]) days prior to the anticipated filing
deadline to the extent such advance notice is available, so that LICENSEE may be currently informed and apprised of the continuing prosecution of PATENT RIGHTS. LICENSEE agrees to keep this documentation confidential in accordance with Article 26.
LICENSEE may comment upon such documentation, and REGENTS will reasonably consider all such comments made by LICENSEE; provided, however, that if LICENSEE has not commented upon such documentation in reasonable time for REGENTS to sufficiently
consider LICENSEE’s comments prior to the deadline for filing a response with the relevant government patent office, REGENTS will be free to respond appropriately without consideration of LICENSEE’s comments. LICENSEE and LICENSEE’s
patent counsel will have the right to consult with patent counsel chosen by REGENTS. REGENTS will file foreign counterparts of the REGENTS’ PATENT RIGHTS in countries selected by LICENSEE, subject to Paragraph 14.4. 

 

	 	14.2	 REGENTS will use reasonable efforts to prepare or amend any patent application to include claims reasonably
requested by LICENSEE to protect the LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHODS contemplated to be SOLD or to be practiced under this Agreement. REGENTS will not abandon a patent application (unless filing a continuation or divisional
filing or an equivalent thereof) or fail to maintain a patent without LICENSEE’s prior written consent. 

  

	 	14.3	 Subject to Paragraph 14.4, one half (1/2) of the past, unreimbursed costs for preparing, filing, prosecuting,
and maintaining all United States and foreign patent applications and patents under PATENT RIGHTS will be paid by LICENSEE within [***] ([***]) days of the Effective Date of this Agreement. The remaining other one half (1/2) of the past,
unreimbursed costs for preparing, filing, prosecuting, and maintaining all United States and foreign patent applications and patents under PATENT RIGHTS will be paid by LICENSEE within [***] ([***]) days of [***]. If, however, REGENTS grants
additional exclusive license by [***], the second half installment of the past, unreimbursed patents costs will be not be due to REGENTS. To date, the remaining total past patent costs paid by REGENTS are about [***] U.S. Dollars ($[***]). Subject
to Paragraph 14.4, all future costs for preparing, filing, prosecuting, and maintaining all United States and foreign patent applications and patents under PATENT RIGHTS will be borne by LICENSEE. If, however, REGENTS grants additional exclusive
license, the costs of preparing, filing, prosecuting and maintaining such patent applications and patents will be divided equally among the exclusive licensees from the effective date of such subsequently granted license agreement. In addition, if,
REGENTS reduces the exclusive license granted herein to non-exclusive licenses pursuant to Paragraphs 7.3 7.4, 7.5 or 7.6, and REGENTS grants additional license(s), the costs of preparing, filing, prosecuting
and maintaining such patent applications and patents will be divided equally among the licensed parties from the effective date of each subsequently granted license agreement. Payments are due within [***] ([***]) days after receipt of invoice from
REGENTS. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	14.4	 LICENSEE’s obligation to underwrite and to pay all domestic and foreign patent filing, prosecution, and
maintenance costs will continue for so long as this Agreement remains in effect; provided, however, that LICENSEE may terminate its obligations with respect to any given patent application or patent in any or all designated countries upon [***]
([***]) months’ written notice to REGENTS. REGENTS will use its best efforts to curtail patent costs when such a notice is received from LICENSEE. REGENTS may continue prosecution and/or maintenance of such applications or patents at its sole
discretion and expense; provided, however, that LICENSEE will have no further right or licenses thereunder. 

  

	15.	 MARKING 

  

	 	15.1	 Prior to the issuance in the United States of patents under PATENT RIGHTS, LICENSEE agrees to mark LICENSED
PRODUCT(S) (or their containers or labels) SOLD by it in the United States under the license granted in this Agreement with the words “Patent Pending,” and following the issuance in the United States of one or more patents under PATENT
RIGHTS, with the patent numbers of the PATENT RIGHTS. All LICENSED PRODUCTS SOLD in other countries will be marked in such manner as to conform with the patent laws and practice of such countries. 

 

	16.	 USE OF NAMES AND TRADEMARKS 

 

	 	16.1	 Nothing contained in this Agreement will be construed as conferring any right to use in advertising, publicity
or other promotional activities any name, trademark, trade name, or other designation of either party hereto by the other (including any contraction, abbreviation, or simulation of any of the foregoing). Unless required by law, regulation, or rules
of a securities exchange, or consented to in writing by REGENTS, the use by LICENSEE of the name “The Regents of the University of California” or the name of any University of California campus in advertising, publicity or other
promotional activities is expressly prohibited. 

  

	17.	 LIMITED WARRANTIES AND COVENANTS 

 

	 	17.1	 REGENTS warrants to LICENSEE that (a) to the extent of the actual knowledge of the licensing professional
responsible for administration of this Agreement, it has the lawful right to grant the licenses granted to LICENSE pursuant to this Agreement, (b) to the extent of the actual knowledge of the licensing professional responsible for
administration of this Agreement, it has not previously granted to any third party any rights that conflict with the licenses granted to LICENSEE pursuant to this Agreement, and (c) to the extent of the actual knowledge of the licensing
professional responsible for administration of this Agreement and of REGENTS’ patent prosecution counsel, no third party who is not designated in filings with relevant patent authorities as an inventor of the PATENT RIGHTS is, or has claimed or
asserted in writing to REGENTS that it is, an inventor of the PATENT RIGHTS. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	17.2	 Except as expressly provided in this Agreement, the licenses granted pursuant to this Agreement, the BIOLOGICAL
MATERIAL, and the associated INVENTION are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESSED OR IMPLIED. REGENTS MAKES NO REPRESENTATION OR WARRANTY THAT THE INVENTION, THE BIOLOGICAL
MATERIAL, PATENT RIGHTS, LICENSED PRODUCTS, LICENSED SERVICES OR LICENSED METHODS WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

  

	 	17.3	 EXCEPT FOR LICENSEE’S OBLIGATION TO INDEMNIFY AGAINST CLAIMS OF THIRD PARTIES UNDER ARTICLE 19
(INDEMNIFICATION AND INSURANCE), IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM EXERCISE OF THE LICENSES GRANTED PURSUANT TO THIS AGREEMENT OR THE USE OF THE INVENTION, THE
BIOLOGICAL MATERIAL, PATENT RIGHTS, LICENSED METHODS, LICENSED SERVICES OR LICENSED PRODUCTS. THE REGENTS WILL NOT BE LIABLE FOR DIRECT DAMAGES TO THE OTHER PARTY CAUSED BY AN ASSIGNMENT BY THE REGENTS’ INVENTORS OF THE PATENT RIGHTS TO A THIRD
PARTY. 

  

	 	17.4	 Nothing in this Agreement is or will be construed as: 

 

	 	(a)	 A warranty or representation by REGENTS as to the validity, enforceability or scope of any PATENT RIGHTS; or

  

	 	(b)	 A warranty or representation that anything made, used, or SOLD under any license granted in this Agreement is
or will be free from infringement of patents of third parties; or 

  

	 	(c)	 An obligation to bring or prosecute actions or suits against third parties for patent infringement, except as
provided in Article 18; or 

  

	 	(d)	 Conferring by implication, estoppel, or otherwise any license or rights under any patents of REGENTS or IGT
other than PATENT RIGHTS as defined herein, regardless of whether such patents are dominant or subordinate to PATENT RIGHTS; or 

  

	 	(e)	 An obligation to furnish any know-how not provided in the patents and
patent applications under PATENT RIGHTS and REGENTS’ PROPERTY RIGHTS. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	17.5	 REGENTS shall promptly notify LICENSEE in the event (to the extent of the actual knowledge of the licensing
professional responsible for administration of this agreement) that IGT (a) files in any court or agency pursuant to any statute or regulation of any state or country, a petition in bankruptcy or insolvency, for reorganization, or for an
arrangement or appointment of a receiver or trustee of IGT or of its assets; (b) is served with an involuntary petition against it, filed in any insolvency proceeding; (c) proposes or is a party to any dissolution or liquidation; or
(d) makes an assignment for the benefit of its creditors. REGENTS shall promptly notify LICENSEE upon any termination of the IIA, or receipt of notice of termination thereof. 

 

	18.	 PATENT INFRINGEMENT 

 

	 	18.1	 In the event that either party (and in the case of REGENTS, to the extent of the actual knowledge of the
licensing professional responsible for administration of this Agreement) learns of the infringement of any PATENT RIGHTS under this Agreement, such party will promptly provide the other party with notice and reasonable evidence of such infringement
(“Infringement Notice”). During the period and in a jurisdiction where LICENSEE has exclusive rights under this Agreement, neither party will notify a third party, including the infringer, of the infringement without first obtaining
consent of the other party, which consent will not be unreasonably withheld; provided, however, that LICENSEE may notify any then-existing sublicensees under the relevant PATENT RIGHTS of such infringement without REGENTS’ prior consent if such
sublicensee is bound by obligations of confidentiality with respect to such information. Both parties will use diligent efforts, in cooperation with each other, to terminate such infringement without litigation. 

 

	 	18.2	 If the infringing activity of potential commercial significance has not been abated within [***] ([***]) days
following the effective date of the Infringement Notice, LICENSEE may institute suit for patent infringement against the infringer. In accordance with the terms of the IIA, REGENTS and/or IGT may voluntarily join such suit at its own expense, but
may not thereafter commence suit against the infringer for the acts of infringement that are the subject of LICENSEE’s suit or any judgment rendered in that suit. [***]. If, in a suit initiated by LICENSEE, REGENTS is involuntarily joined
[***]. 

 If, within [***] ([***]) days following the effective date of the Infringement Notice, the infringing activity of
potential commercial significance has not been abated and LICENSEE has not brought suit against the infringer, REGENTS or IGT may institute suit for patent infringement against the infringer. If REGENTS or IGT institutes such suit, LICENSEE may not
join such suit without REGENTS’ or IGT’s consent, as applicable, and may not thereafter commence suit against the infringer for the acts of infringement that are the subject of REGENTS’ or IGT’s suit or any judgment rendered in
that suit. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

 Notwithstanding the foregoing, the parties may by mutual agreement, at any time, bring and
control such suit jointly against an infringer of the PATENT RIGHTS, sharing costs in such manner as they may then agree. 
  

	 	18.3	 Such legal action as is decided upon will be at the expense of the party instituting the suit pursuant to
Paragraph 18.2, and all recoveries recovered thereby will [***], provided that legal action brought jointly by REGENTS and/or IGT and LICENSEE, and participated in by each, will be [***] and all recoveries will be allocated in the following order:
(a) to each party pro rata reimbursement of the attorney’s costs, fees, and other related expenses to the extent each party paid for such costs, fees, and expenses, until all such costs, fees, and expenses are reimbursed to each party; and
(b) [***]. 

  

	 	18.4	 Each party will cooperate with the other in litigation instituted hereunder but at the expense of the party
instituting the suit pursuant to Paragraph 18.2. Such litigation will be controlled by the party instituting such suit, but the other party may be represented by counsel of its choice. In no event may either party admit liability or wrongdoing on
behalf of the other party without the other party’s prior written consent. 

  

	 	18.5	 Any agreement made by LICENSEE for the purposes of settling litigation or other dispute shall comply with the
requirements of Article 4 (Sublicenses) of this Agreement. 

  

	19.	 INDEMNIFICATION AND INSURANCE 

 

	 	19.1	 LICENSEE will, and will require its sublicensees to, indemnify, hold harmless, and defend REGENTS and IGT and
their officers, employees, and agents; sponsor(s) of the research that led to the INVENTION and BIOLOGICAL MATERIAL included in PROPERTY RIGHTS; and the inventors of any patents and patent applications under PATENT RIGHTS and their employers against
any and all losses, damages, costs, fees, and expenses resulting from third party claims and suits arising out of exercise of this license or any sublicense or any use or possession of the BIOLOGICAL MATERIAL. This indemnification will include, but
not be limited to, any product liability claims. 

  

	 	19.2	 LICENSEE, at its sole cost and expense, will ensure that the applicable entity performing activities in
connection with any work performed hereunder, whether LICENSEE, an AFFILIATE, or a sublicensee, will obtain, keep in force, and maintain the following insurance: 

 

	 	(a)	 prior to the start of clinical trials of a LICENSED PRODUCT, Commercial Form General Liability Insurance
(contractual liability included) with limits as follows: 

  

					
	 Each Occurrence
	  	 	$[***]	 
	 Products/Completed Operations Aggregate
	  	 	$[***]	 
	 Personal and Advertising Injury
	  	 	$[***]	 
	 General Aggregate
	  	 	$[***]	 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	(b)	 upon the start of any clinical trials of a LICENSED PRODUCT, Commercial Form General Liability Insurance
(contractual liability included), and product liability insurance if not otherwise included, with limits as follows: 

  

					
	 Each Occurrence
	  	 	$[***]	 
	 Products/Completed Operations Aggregate
	  	 	$[***]	 
	 Personal and Advertising Injury
	  	 	$[***]	 
	 General Aggregate
	  	 	$[***]	 

  

	 	(c)	 upon the first commercial sale of a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD, Commercial Form
General Liability Insurance (contractual liability included), and product liability insurance if not otherwise included, with limits as follows: 

  

					
	 Each Occurrence
	  	 	$[***]	 
	 Products/Completed Operations Aggregate
	  	 	$[***]	 
	 Personal and Advertising Injury
	  	 	$[***]	 
	 General Aggregate
	  	 	$[***]	 

 If the above insurance is written on a claims-made form, it shall continue for [***] ([***]) years following
termination or expiration of this Agreement. 
  

	 	(d)	 worker’s compensation as legally required in the jurisdiction in which LICENSEE, an AFFILIATE, or a
sublicensee, as applicable, is doing business. 

 LICENSEE will promptly notify REGENTS of any material reduction in the
insurance coverages below the amounts required hereunder. 
  

	 	19.3	 The coverage and limits referred to in Paragraph 19.2 above will not in any way limit the liability of LICENSEE
under Paragraph 19.1. Upon the execution of this Agreement, LICENSEE will furnish REGENTS with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	(a)	 where possible, provide for [***] ([***]) days’ ([***] ([***]) days for
non-payment of premium) advance written notice to REGENTS of any cancellation of insurance coverages; 

  

	 	(b)	 indicate that REGENTS has been endorsed as an additional insured under the coverage described above in
Paragraph 19.2; and 

  

	 	(c)	 include a provision that the coverage will be primary and will not participate with, nor will be excess over,
any valid and collectable insurance or program of self-insurance maintained by REGENTS. 

  

	 	19.4	 REGENTS will promptly notify LICENSEE in writing of any claim or suit brought against REGENTS for which REGENTS
intends to invoke the provisions of Paragraph 19.1. LICENSEE will keep REGENTS informed of its defense of any claims pursuant to Paragraph 19.1, and REGENTS will cooperate reasonably in any such suit. If REGENTS invokes the provisions of Paragraph
19.1, REGENTS will not make any admissions or take any actions in such claim or suit that may prejudice or impair LICENSEE’s ability to defend such claim or suit without LICENSEE’s prior written consent, and LICENSEE will not admit
liability or wrongdoing on behalf of REGENTS without REGENTS’ prior written consent. 

  

	20.	 COMPLIANCE WITH LAWS 

 

	 	20.1	 LICENSEE will comply with all applicable international, national, state, regional, and local laws and
regulations in performing its obligations hereunder and in its use, manufacture, SALE or import of the LICENSED PRODUCTS, LICENSED SERVICES, or practice of the LICENSED METHODS. LICENSEE understands that REGENTS is subject to United States laws and
regulations (including the Arms Export Control Act, as amended, and the Export Administration Act of 1979), controlling the export of technical data, computer software, laboratory prototypes and other commodities, and REGENTS’ obligations under
this Agreement are contingent on compliance with such laws and regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government and/or written assurances by LICENSEE
that LICENSEE will not export such technical data and/or commodities to certain foreign countries without prior approval of such agency. REGENTS neither represents that a license will not be required nor that, if required, it will be issued.

  

	21.	 GOVERNMENT APPROVAL OR REGISTRATION 

 

	 	21.1	 If this Agreement or any associated transaction is required by the law of any nation to be either approved or
registered with any governmental agency, LICENSEE will assume all legal obligations to do so. LICENSEE will notify REGENTS if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement.
LICENSEE will make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval
process. 

  
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	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	22.	 ASSIGNMENT 

  

	 	22.1	 This Agreement is binding upon and shall inure to the benefit of REGENTS, and its successors and assigns. This
Agreement will be personal to LICENSEE and assignable by LICENSEE only with the written consent of REGENTS, except that LICENSEE may freely assign this Agreement to its AFFILIATE or to an acquirer of all or substantially all of LICENSEE’s
stock, assets or business to which this Agreement relates. If LICENSEE assigns this Agreement to a non-AFFILIATE third party, then upon execution of the assignment agreement, LICENSEE will (i) provide
REGENTS with the updated contact information, and (ii) [***]. 

  

	23.	 NOTICES 

  

	 	23.1	 All notices under this Agreement will be deemed to have been fully given and effective when done in writing and
delivered in person, or three (3) business days after mailed by registered or certified U.S. mail, or one (1) business day after deposited with an express carrier service requiring signature by recipient, and addressed as follows:

  

			
	To REGENTS:	  	Office of Technology Licensing
		  	2150 Shattuck Avenue, Suite 510
		  	Berkeley, CA 94704-1347
		  	Attn.: Director (UC Case No.: B03-104)
		
	To LICENSEE:	  	4D Molecular Therapeutics LLC
		  	444 Laverne Avenue
		  	Mill Valley, CA 94941
		  	Attn.: [***]

 Either party may change its address upon written notice to the other party. 

 

	24.	 LATE PAYMENTS 

 

	 	24.1	 If monies owed to REGENTS under this Agreement are not received by REGENTS when due, LICENSEE will pay to
REGENTS interest charges at a rate of [***] percent ([***]%) per annum, or less if required by applicable law. Such interest will be calculated from the date payment was due until actually received by REGENTS. Such accrual of interest will be in
addition to, and not in lieu of, enforcement of any other rights of REGENTS related to such late payment. Acceptance of any late payment will not constitute a waiver under Article 25 (Waiver) of this Agreement. 

 

	25.	 WAIVER 

  

	 	25.1	 The failure of either party to assert a right hereunder or to insist upon compliance with any term or condition
of this Agreement will not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition 

  
 Page 29 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
by the other party. None of the terms and conditions of this Agreement can be waived except by the written consent of the party waiving compliance. 

 

	26.	 CONFIDENTIALITY 

 

	 	26.1	 Each party will hold the other party’s proprietary business and technical information, patent prosecution
material and other proprietary information, including the negotiated terms of this Agreement, in confidence and against disclosure to third parties (except to those employees or authorized representatives having a need to know such information and
who are bound by confidentiality obligations with respect thereto) with at least the same degree of care as it exercises to protect its own data and license agreements of a similar nature. Each party will only use such information of the other party
in accordance with the terms of this Agreement. These obligations will expire [***] ([***]) years after the termination or expiration of this Agreement. 

  

	 	26.2	 Nothing contained herein will in any way restrict or impair the right of LICENSEE or REGENTS to use, disclose,
or otherwise deal with any information or data which: 

  

	 	(a)	 at the time of disclosure to the receiving party is generally available to the public or thereafter becomes
generally available to the public by publication or otherwise, through no act or omission of the receiving party; 

  

	 	(b)	 the receiving party can show by its contemporaneous written records was in its possession, without
confidentiality restrictions, prior to the time of disclosure to it hereunder, and was not acquired directly or indirectly from the disclosing party; 

  

	 	(c)	 is independently made available to the receiving party, without confidentiality restrictions, as a matter of
right by a third party under no obligation of confidentiality to the disclosing party; 

  

	 	(d)	 is independently developed by the receiving party without any use of the information disclosed, as shown by the
receiving party’s contemporaneous written records; or 

  

	 	(e)	 is subject to disclosure under the California Public Records Act, court order, or other requirements of law,
regulation, or rules of a securities exchange, provided that the receiving party promptly informs the disclosing party of such request. 

  

	 	26.3	 Notwithstanding anything to the contrary in Paragraph 26.1, LICENSEE may disclose proprietary information it
receives pursuant to this Agreement, and the terms of this Agreement, to its actual or potential investors, acquirers, and sublicensees who are bound by obligations of confidentiality with respect thereto. Moreover, REGENTS has the right to share
such information with IGT under the 

  
 Page 30 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
confidentiality terms in the IIA. REGENTS will be free to release to IGT, the inventors, and senior administrators employed by REGENTS the terms and conditions of this Agreement upon their
request. If such request is made, REGENTS will inform such employees of the confidentiality obligations set forth above and will request that they do not disclose such terms and conditions to others. Should a third party inquire whether a license to
PATENT RIGHTS is available, REGENTS may disclose the existence of this Agreement and the extent of the grant in Articles 3 and 4 to such third party, but will not disclose the name of LICENSEE unless LICENSEE has already made such disclosure
publicly, except where REGENTS is required to release information under either the California Public Records Act or other applicable law, provided REGENTS gives prior written notice to LICENSEE of such disclosure. 

 

	 	26.4	 LICENSEE and REGENTS agree to destroy or return to the disclosing party proprietary information received from
the other in its possession within [***] ([***]) days following the effective date of termination of this Agreement. However, each party may retain one copy of proprietary information of the other solely for archival purposes in non-working files for the sole purpose of verifying the ownership of the proprietary information, provided such proprietary information will be subject to the confidentiality provisions set forth in this Article 26.
LICENSEE and REGENTS agree to provide each other, within [***] ([***]) days following termination of this Agreement, with a written notice that such proprietary information has been returned or destroyed. 

 

	27.	 FORCE MAJEURE 

 

	 	27.1	 Except for LICENSEE’s obligation to make any payments to REGENTS hereunder, the parties to this Agreement
shall be excused from any performance required hereunder if such performance is rendered impossible or unfeasible due to any catastrophes or other major events beyond their reasonable control, including, without limitation, war, riot, and
insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the parties’ respective
obligations hereunder will resume. 

  

	28.	 SEVERABILITY 

  

	 	28.1	 The provisions of this Agreement are severable, and in the event that any provision of this Agreement will be
determined to be invalid or unenforceable under any controlling body of law, such invalidity or enforceability will not in any way affect the validity or enforceability of the remaining provisions hereof. 

 

	29.	 APPLICABLE LAW; VENUE; ATTORNEYS’ FEES 

 

	 	29.1	 THIS AGREEMENT WILL BE CONSTRUED, INTERPRETED, AND APPLIED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
CALIFORNIA, excluding any choice of law rules that would direct the application of the laws of 

  
 Page 31 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

	 	
another jurisdiction, but the scope and validity of any patent or patent application under PATENT RIGHTS will be determined by the applicable law of the country of such patent or patent
application. Any legal action brought by the parties relating to this Agreement will be conducted in San Francisco, California. The prevailing party in any legal action under this Agreement will be entitled to recover its reasonable attorneys’
fees in addition to its costs and necessary disbursements. 

  

	30.	 ELECTRONIC COPY; COUNTERPARTS 

 

	 	30.1	 The parties to this document agree that a copy of the original signature to this Agreement (including an
electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive any right to challenge the admissibility or authenticity of this document in a court of law based solely on the
absence of an original signature. 

  

	 	30.2	 This Agreement may be executed in two or more counterparts, including by facsimile or electronic exchange of
signed copies in PDF format, each of which shall be deemed an original document, and all of which, together with this writing, shall be deemed one instrument. 

 

	31.	 SCOPE OF AGREEMENT; AMENDMENT; WAIVER 

 

	 	31.1	 This Agreement, together with the OTHER LICENSE AGREEMENT and the MTA, incorporates the entire agreement
between the parties with respect to the subject matter hereof, and supersedes all prior agreements, discussions and writings in respect thereof, including without limitation the Letter Agreement dated May 8, 2013. 

 

	 	31.2	 This Agreement may be altered or modified only by written amendment duly executed by the parties hereto. A
waiver of any breach or default of this Agreement shall not constitute a waiver of any other right hereunder or any subsequent breach or default. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate originals by their duly authorized officers or representatives. 

 

									
	THE REGENTS OF THE UNIVERSITY, OF CALIFORNIA	  		 	4D MOLECULAR THERAPEUTICS LLC
					
	By	  	 /s/ Carol Mimura
	  		 	By	  	 /s/ David H. Kirn

									
		 	Carol Mimura, Ph.D.	 		 		 	
		 	Assistant Vice Chancellor	 		 	Printed Name	 	 David H. Kirn

		 	Office of Technology Licensing	 		 		 	

									
		 		 		 	Title	 	 Co-Founder, Executive
Chair

									
					
	Date	 	 Dec. 19, 2013
	 		 	Date	 	 December 19, 2013

  
 Page 32 of 35 

 

			
	4D Molecular Therapeutics LLC	  	Exclusive License
	UC Case No.: B03-104	  	Confidential

 [***] Certain information in this document has been excluded pursuant to Regulation S-K,
Item 601(b)(10). Such excluded 
 information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

  

 Exhibit A 

Omitted pursuant to Regulation S-K, Item 601(a)(5). 

  
 1

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