Document:

EX-10.7

 Exhibit 10.7 
  

 
 March 25, 2020 
 Roger
Sawhney 
 [XXX] 
 [XXX] 

Dear Roger, 
 On behalf of Omega Therapeutics,
Inc. (the “Company”), a Flagship Pioneering Company, I am delighted to make this conditional offer of employment with the Company. This offer letter (the “Offer Letter”) and the accompanying documents and agreements summarize and
set forth important terms about your employment with the Company. 
 1. Starting Date, Position, and Duties. 

 

	 	a.	 Your initial position shall be Chief Financial Officer and SVP Business Development
reporting to the Company’s CEO. We anticipate that your employment shall start effective no later than May 4, 2020 (the “Start Date”). 

b. As a member of our team, we expect you to devote all of your professional and working time and energies to the business and affairs
of the Company. Notwithstanding the forgoing, nothing contained herein shall prevent you from managing your personal investments on your own personal time, including the right to make passive investments in the securities of:
(i) any entity which you do not control, directly or indirectly, and which does not compete with Company, and (ii) any publicly held entity so long as your aggregate direct and indirect interest does not exceed
five percent (5%) of the issued and outstanding securities of any class of securities of such publicly held entity. You shall not engage in other non-Company related business activities (including board
memberships) without Company’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. 

c. As is generally true for Company employees, you shall be employed on an at-will basis, which
means that neither you nor the Company are guaranteeing this employment relationship for any specific period of time. Either of you or the Company may choose to end the employment relationship at any time, for any reason, with or without notice. The
descriptions of benefits and other compensation arrangements set forth herein are meant to be summary in form and may be subject to change. Other than the terms of this Offer Letter, the Company reserves the right to alter, supplement or rescind its
employment procedures, benefits or policies (other than the employment at-will policy) at any time in its sole and absolute discretion and without notice. 

  
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 2. Compensation. 

a. Salary. Your initial base pay shall be at a rate of $355,000 on an annualized basis, minus customary deductions for federal
and state taxes and the like, paid in accordance with the Company’s normal payroll practices (the “Annual Salary”). 

b. Annual Performance Bonus. You shall be eligible to receive an annual bonus of up to thirty-five percent (35%) of your Annual
Salary (the “Annual Bonus”), payable upon the achievement, as determined by the Company’s Board of Directors (the “Board”) in its sole discretion, of specific milestones to be mutually agreed in writing. The Annual Bonus
shall be paid to you no later than March 15th of the calendar year immediately following the calendar year in which it was earned. You must be employed by the Company at the time that the Annual
Bonus is paid in order to be eligible for the Annual Bonus. 
 c. Equity; Stock Options. I shall ask the Board to grant
you an option or other equivalent instrument (the “Equity Grant”) to purchase shares of common stock or equivalent equity incentive units of the Company equal to 1.4% ( 1,507,687 shares) of the fully diluted equity of the Company
determined as of the Start Date, at a strike price equal to the fair market value of the Company’s common stock or equivalent equity incentive units on the date of grant as determined by the Board. Any grant shall be subject to quarterly
vesting, over a four-year period beginning on your first date of employment, subject to a one-year cliff (i.e., 25% of the grant shall vest on the first year anniversary of the Start Date). In all respects,
these options shall be governed by the Company’s equity incentive plan and applicable grant agreement then in effect. 
 d.
Benefits. You shall be eligible to participate in the Company’s benefit plans to the same extent as, and subject to the same terms, conditions and limitations applicable to, senior executives of the Company. Summaries of each of the
Company’s benefit plans are available to you. These benefits may be modified, changed or eliminated from time to time at the sole discretion of the Company, and the provision of such benefits does not change your status as an at-will employee. Where a particular benefit is subject to a formal plan (for example, medical insurance or life insurance), eligibility to participate in and receive any particular benefit is governed solely by the
applicable plan document. Each calendar year you shall be eligible to accrue four (4) weeks’ vacation and holidays as set forth by the Company and subject to the Company’s vacation and holiday policies as in effect from time to time.

 e. Relocation. The Company shall pay up to $75,000 for relocation expenses so long as relocation is completed no later than
September 1, 2021. Relocation costs are taxable and will processed via payroll and taxed accordingly. 

  
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 f. Travel and Lodging
Allowance. The Company shall provide you with an allowance of $5,000 per month for reasonable lodging expenses in the Cambridge, MA vicinity through September 1, 2021 or until relocation if earlier. The Company shall also cover reasonable
travel expenses related to your commute between your home location and the Company’s office location in Cambridge, MA, provided that air travel shall be by coach and train travel may be by business class. These allowances are taxable and will
be included in the first semi-monthly pay each month. 
 g. Expense Reimbursement. The Company shall reimburse you for all
ordinary and reasonable out-of-pocket business expenses incurred in furtherance of the Company’s business in accordance with the Company’s policies with
respect thereto as in effect from time to time. You must submit any request for reimbursement no later than ninety (90) days following the date that such business expense is incurred. All reimbursements hereunder shall be made or provided in
accordance with the requirements of Section 409A (“Section 409A”) of the Internal Revenue Code and the rules and regulations thereunder (the “Code”) including, where applicable, the requirement that:
(i) any reimbursement is for expenses incurred during your lifetime (or during a shorter period of time specified in this Offer Letter); (ii) the amount of expenses eligible for reimbursement during a calendar year may
not affect the expenses eligible for reimbursement in any other calendar year; (iii) the reimbursement of an eligible expense shall be made no later than the last day of the calendar year following the year in which the expense is
incurred; and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit. 

h. Accrued Obligations. For purposes of this Offer Letter, “Accrued Obligations” means: (i) the portion of your
Annual Salary that has accrued prior to any termination of your employment with the Company and has not yet been paid; (ii) any accrued but unused vacation time pursuant to the Company’s standard policy and practices, and (iii) the
amount of any reimbursable expenses properly incurred by you on behalf of the Company prior to any such termination and not yet reimbursed. You shall be paid the Accrued Obligations upon or promptly following any termination of your employment with
the Company. 
 3. Severance Benefit upon Termination without Cause. 

a. Notwithstanding the at-will nature of the parties’ relationship, should the Company
terminate your employment without Cause (as defined below), or should you terminate your employment with the Company for Good Reason (as defined below), you shall be paid the Accrued Obligations promptly upon such termination. In addition,
conditioned upon: (i) your execution within 45 days after the date of your employment termination and non-revocation of and compliance with a separation agreement which shall contain, among
other things, a full and general release of claims to the Company and its affiliates and their respective directors, officers, agents and employees, in a form reasonably satisfactory to the Company, and if your termination is by the Company without
Cause, a non-competition covenant that restricts 

  
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 certain competitive activities for a period of one
(1) year from the date of termination (provided that if your termination does not qualify as Cause hereunder but qualifies as “Cause” as defined in your Non-Competition Agreement (as defined in
Section 6 below), the non-competition covenant will not be contained in the separation agreement, but rather in your Non-Competition Agreement, with which you will
be expected to comply) and (ii) your compliance with your obligations set forth in your Employee Non-Solicitation, Confidentiality and Assignment Agreement (the “Confidentiality
Agreement” as described in Section 6 below), then the Company shall provide you with: (iii) payments equal to six (6) months of your then current base salary, payable in periodic installments over six
(6) months, in accordance with the Company’s normal payroll practices; (iv) any unpaid Annual Bonus the Board determines was earned by you for the year prior to the year in which your employment termination occurs, payable in a
lump sum at substantially the same time at which annual bonuses for such year are paid to other Company senior executives (but in no event later than December 31 of the year in which your employment termination occurs); and (v) (x)
if the Company is subject to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or similar state law, (y) the premium subsidy described below is not illegal or discriminatory under the Code, the Patient Protection and
Affordable Care Act or the Health Care and Education Reconciliation Act, and (z) if you properly elect to receive benefits under COBRA, six (6) months of your COBRA premiums at the Company’s normal rate of contribution for employees
for your coverage at the level in effect immediately prior to your termination. 
 b. For purposes of this Section 3,
“Cause” means any one or more of the following actions: (i) your material breach of the terms of this Offer Letter, your Confidentiality Agreement, or your Non-Competition Agreement, to
the extent capable of cure, following written notice of such material breach by the Company and a period of thirty (30) days to cure the same; (ii) your material dishonesty, willful misconduct, gross negligence, or reckless
conduct; (iii) your commission of an act of fraud, theft, misappropriation or embezzlement; (iv) your conviction of, or pleading nolo contendere to, any crime involving dishonesty or moral turpitude or any felony; or
(v) your material violation of a Company policy or willful refusal to perform your assigned duties to the Company, to the extent capable of cure, following written notice of such violation or refusal by the Company and a period of thirty
(30) days to cure the same. 
 c. For purposes of this Section 3, “Good Reason” shall mean (i) relocation of
your office location to a location more than fifty (50) miles from your office location on the Start Date, (ii) a material diminution in your duties, authority or responsibilities, other than in connection with a corporate transaction
immediately after which you continue to hold substantially the same position with respect to the Company’s business, substantially as such business exists prior to such corporate transaction, as you held immediately before such corporate
transaction but do not hold such position with respect to the successor or surviving entity, (iii) a material reduction in your Annual Salary, other than such a reduction that is implemented in connection with a contemporaneous and
proportionate reduction in annual base salaries affecting all other senior executives of the Company, or (iv) material breach by the Company of its covenants and/or 

  
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 obligations under this Offer Letter; provided
that, in each of the foregoing clauses (i) through (iv), (A) you provide the Company with written notice that you intend to terminate your employment hereunder for one or more of the grounds set forth in this Section 3.c. within thirty
(30) days of the occurrence of the event constituting a ground for Good Reason termination, (B) if such ground is capable of being cured, the Company has failed to cure such ground within a period of thirty (30) days from the date of
such written notice, and (C) you terminate by written notice your employment within sixty (60) days from the date you provide the notice described in clause (A) of this Section 3.c. 

d. Any severance payments paid under this Section 3 shall commence within 60 days after the date of termination; provided,
however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the severance payments will begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the date of
termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

e. Should you voluntarily terminate your employment for any reason other than Good Reason, or should your employment be terminated for
Cause, then you shall not be entitled to any severance payments described herein. Nothing in this Section 3 shall alter your status as an at-will employee. 

4. Certification. By signing this Offer Letter, you are certifying to the Company that: (a) your employment with the Company
does not and shall not require you to breach any agreement entered into by you prior to employment with the Company (i.e., you have not entered into any agreements with previous employers that are in conflict with your obligations to the Company);
(b) to the extent you may be subject to restrictive agreements with any prior employer that may affect your employment with the Company, you have provided us with a copy of that agreement; (c) your employment with the
Company does not violate any order, judgment or injunction applicable to you, and you have provided the Company with a copy of any such order, judgment, or injunction; and (d) all facts you have presented to the Company are accurate and
true, including all statements made to the Company pertaining to your education, training, qualifications, licensing and prior work experience on any job application, resume or c.v., or in any interview. Please understand that the Company
does not want you to disclose any confidential information belonging to a previous employer or to incorporate the proprietary information of any previous employer into the Company’s proprietary information and expects that you shall abide by
restrictive covenants to prior employers. 
 5. Required I-9 Documentation. Your employment with the
Company is conditioned on your eligibility to work in the United States. For purposes of completing the INS I-9 form, you must provide us sufficient documentation to demonstrate your eligibility to work in the
United States on or before your first day of employment. 

  
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 6. Confidentiality and Other
Obligations. As part of your employment with the Company, you shall be exposed to, and provided with, valuable confidential and trade secret information concerning the Company and its present and prospective clients. As a result, in order to
protect the Company’s legitimate business interests, you understand that your employment by the Company creates a relationship of confidence with respect to confidential and proprietary information belonging to the Company and third
parties. In light of the foregoing and as a condition of your employment, you must sign and abide by: (a) the Company’s standard Confidentiality Agreement, and (b) the Company’s standard Noncompetition
Agreement (the “Non-Competition Agreement”), and (c) the Company’s standard Waiver of Review Period (the “Waiver”), copies of which are enclosed. As a Company employee, you
shall be expected to abide by Company policies and procedures as may be in effect from time to time. You must sign and return the Confidentiality Agreement, Noncompetition Agreement, and Waiver (if applicable) before beginning your employment with
the Company. 
 7. Section 409A of the Code. 

a. Notwithstanding any other provision of this Offer Letter to the contrary, if any amount (including imputed income) to be paid to you
pursuant to this Offer Letter as a result of your termination of employment is “deferred compensation” subject to Section 409A of the Code, and if you are a “Specified Employee” (as defined under Section 409A of the
Code) as of the date of your termination of employment hereunder, then, to the extent necessary to avoid the imposition of excise taxes or other penalties under Section 409A of the Code, the payment of benefits, if any, scheduled to be paid by
the Company to you hereunder during the first 6-month period following the date of a termination of employment hereunder shall not be paid until the date which is the first business day after six
(6) months have elapsed since your termination of employment for any reason other than death. Any deferred compensation payments delayed in accordance with the terms of this Section 6.a. shall be paid in a lump sum after 6-months have elapsed since your termination of employment. Any other payments shall be made according to the schedule provided for herein. 

b. If any of the benefits set forth in this Offer Letter are “deferred compensation” under Section 409A of the Code, any
termination of employment triggering payment of such benefits must constitute a “separation from service” under Section 409A of the Code before distribution of such benefits can commence. To the extent that the termination of your
employment does not constitute a “separation from service” under Section 409A of the Code (as the result of further services that are reasonably anticipated to be provided by you to the Company at the time your employment terminates),
any benefits payable under this Offer Letter that constitute “deferred compensation” under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting a “separation from service” under
Section 409A of the Code. For purposes of clarification, this Section 6.b. shall not cause any forfeiture of benefits on your part, but shall only act as a delay until such time as a “separation from service” occurs. 

  
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 c. It is intended that each
installment of the payments and benefits provided under this Offer Letter shall be treated as a separate “payment” for purposes of Section 409A of the Code. Neither the Company nor you shall have the right to accelerate or defer the
delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A of the Code. 

d. This Offer Letter shall be interpreted and at all times administered in a manner that avoids the inclusion of compensation in income
under Section 409A of the Code. Any provision inconsistent with Section 409A of the Code shall be read out of the Offer Letter, to the extent that such inconsistent provision can be read out without violation of Section 409A. For
purposes of clarification, this Section 6.d. shall be a rule of construction and interpretation and nothing in this Section 6.d. shall cause a forfeiture of benefits on the part of you. You acknowledge and agree that the Company does not
guarantee the tax treatment or tax consequences associated with any payment or benefit arising under this Offer Letter, including but not limited to consequences related to Section 409A of the Code. 

8. Indemnification. Following the Start Date and during your employment, you will be entitled to indemnification for claims arising out of your
employment hereunder to the same extent as other senior executives of the Company. 
 9. General. This Offer Letter, together with the
Confidentiality Agreement and any other written agreements specifically referred to herein, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof, and supersedes all prior oral or
written agreements and understandings relating to the subject matter hereof. The terms and provisions of this Offer Letter may be modified or amended only by written agreement executed by the parties hereto, and may be waived (or consent for the
departure there from granted) only by a written document executed by the party entitled to the benefits of such terms or provisions. The Company may assign its rights and obligations hereunder to any person or entity that succeeds to all or
substantially all of the Company’s business. You may not assign your rights and obligations hereunder without the prior written consent of the Company and any such attempted assignment by you without the prior written consent of the Company
shall be void. This Offer Letter and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the internal law of Massachusetts, without giving effect to the conflict of law principles thereof. By
accepting this offer of employment, you agree that any action, demand, claim or counterclaim in connection with any aspect of your employment with the Company, or any separation of employment (whether voluntary or involuntary) from the Company,
shall be brought in the courts of Massachusetts or of the United States of America for the District of Massachusetts, and shall be resolved by a judge alone, and you waive and forever renounce your right to a trial before a civil jury. 

  
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 Because our employment discussions
and the terms of your employment are confidential, it is understood that you shall not disclose the fact or terms of such discussions or the terms of your employment with the Company to anyone other than your immediate family and your legal or
financial advisor at any time, absent prior written consent from the Company, or as permitted by law. 
 This offer shall remain open,
unless sooner revoked by the Company, through April 6, 2020. Please acknowledge acceptance of this employment offer by signing and dating below. Keep one copy for your files and return one executed copy to me. 

  
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 Roger, we look forward to having you on the team.

 Very truly yours, 

Omega Therapeutics, Inc. 

/s/ Mahesh Karande 

03/31/2020 

Mahesh Karande, President & CEO 
  

	
	Accepted and Agreed to:
	
	 /s/ Roger Sawhney

	Roger Sawhney
	
	 3/30/2020

	Date

  
 9EX-10.12

 Exhibit 10.12 

CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE
COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
 Execution Copy 
  

LICENSE AGREEMENT 
 This
License Agreement (this “Agreement”), effective on March 12, 2019 (the “Effective Date”) is by and between Flagship Pioneering Innovations V, Inc., a Delaware corporation (“Flagship”)
and Omega Therapeutics, Inc., a Delaware corporation (“Company”). Flagship and Company may be referred to individually as a “Party” and collectively as the “Parties”. 

WHEREAS, Flagship Pioneering, Inc. (“Flagship Management”), pursuant to that certain managerial agreement with Company (the
“Managerial Agreement”), has developed certain foundational intellectual property during the exploration and/or proto-company phase of Company; 

WHEREAS, Company wishes to assign to Flagship Management and Flagship Management wishes to assign to Flagship, its interests in certain
foundational intellectual property related to the business of Company and conceived prior to Launch of the Company (defined below), as well as Improvements (defined below) to such intellectual property; 

WHEREAS, Company wishes to obtain from Flagship, and Flagship desires to grant to Company, certain rights to Foundational IP (defined below)
in order to develop and commercialize Licensed Products (defined below); 
 WHEREAS, Company and, pursuant to the Managerial Agreement or
other participation in Company’s affairs, Flagship Management has developed or may develop certain intellectual property following the Launch of the Company, and Flagship Management has assigned its interest in such intellectual property to
Flagship; 
 WHEREAS, Company wishes to obtain from Flagship, and Flagship desires to assign to Company, certain rights to New IP (defined
below); and 
 NOW THEREFORE, in consideration of the foregoing premises and the mutual rights and obligations contained in this Agreement,
and for other good and valuable consideration, the receipt of which is hereby acknowledged, and intending to be legally bound, Flagship and Company hereby agree as follows: 
  

	1.	 DEFINITIONS 

1.1    “Bi-Annual Reports” has the meaning assigned in
Section 5.2. 
 1.2    “Business Day” means a day other than Saturday, Sunday, or any day on which
commercial banks located in Boston, Massachusetts are authorized or obligated by Laws to close. 

1.3    “Calendar Year” means January 1 through December 31 of a given year. 

1.4    “Commercial Sale” means, with respect to a particular Licensed Product, the commercial sale in an
arm’s length bona fide transaction with a Third Party for which consideration is received or expected for the sale, use, lease, transfer or other disposition, by or on 

  
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 CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 
behalf of Company, its Subsidiary or Sublicensee, to a Third Party that is not a Sublicensee (or to Company’s Subsidiary or Sublicensee that is an end user or consumer of such Licensed
Product), including any final sale to a distributor or wholesaler under any non-conditional sale arrangement, of such a Licensed Product. A Commercial Sale is deemed completed at the time that Company, its
Subsidiary or Sublicensee invoices, ships, or receives payment for a Licensed Product, whichever occurs first. 

1.5    “Commercialization” means any and all activities related to the Manufacturing for commercial
purposes, promotion, distribution, marketing, offering for sale and selling, including advertising, educating, planning, obtaining, supporting and maintaining pricing and reimbursement approvals and Regulatory Authorizations, managing and responding
to adverse events involving the product, pricing, price reporting, detailing, storing, handling, shipping, distributing, importing, exporting, and using a product anywhere in the world, in each case for .commercial purposes. Commercialization
excludes Development activities. When used as a verb, “Commercialize” means to engage in Commercialization. 

1.6    “Commercially Reasonable Efforts” means, with respect to Company’s obligations under this
Agreement, efforts consistent with the efforts and resources as commonly used by a biotechnology company of comparable size and resources as Company for a product at a similar stage of research, development or commercialization having similar
product characteristics at a similar stage in its development or product life, taking into account relevant factors including patent coverage, relative safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary
position of such product, the regulatory structure involved, the market potential of such product and other relevant factors, including comparative technical, legal, scientific, medical and/or economic factors, all as measured by the facts and
circumstances in effect at the time when the relevant activities are conducted. 
 1.7    “Confidential
Information” means all proprietary know-how, unpublished patent applications and other information and data of a financial, commercial, regulatory, scientific or technical nature which a Party or any
of its Recipient Entities has disclosed, supplied or otherwise made available to the other Party or its Recipient Entities, whether orally, in writing or in electronic form, pursuant to this Agreement or otherwise relating to or disclosed during any
transaction contemplated hereby, including information comprising or relating to concepts, discoveries, inventions, data, designs or formulae in relation to this Agreement. Confidential Information shall not include information that the receiving
Party can demonstrate by written and/or electronic records: (a) is available to the public at the time of disclosure hereunder or, after disclosure, becomes a part of the public domain by publication or otherwise, through no breach by the
receiving Party; (b) is already properly possessed by the receiving Party prior to receipt from the disclosing Party; (c) was received by the receiving Party without obligation of confidentiality or limitation on use from a Third Party who
had the lawful right to disclose such information on such terms; or (d) was independently developed by or for the receiving Party by any person or persons without use of or reference to the disclosing Party’s Confidential Information,
where the written or electronic records demonstrating such exception were created contemporaneously with such independent development. 

1.8    “Control” or “Controlled” means, with respect to any Patent, other intellectual
property right or other intangible property, an Entity’s ownership or the possession (whether by ownership, license or otherwise) of the ability to grant access to, or a license or sublicense to, such Patent, right or property, without
violating the terms of any agreement with a Third Party. 

  
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 CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 1.9    “Develop” means to engage in pre-clinical and clinical research and development activities reasonably relating to the discovery and development of product candidates and submission of information to a Regulatory Authority, including toxicology,
pharmacology, and other discovery, optimization, and pre-clinical efforts, test method development and stability testing, manufacturing process development, formulation development, delivery system
development, quality assurance and quality control development, statistical analysis, clinical studies (including pre and post Regulatory Approval studies), and activities relating to obtaining Regulatory Approval. “Development” has
a correlative meaning. 
 1.10    “EMA” means the European Medicines Agency or any successor Entities
thereto. 
 1.11    “Entity” means a corporation, an association, a joint venture, a partnership, a
trust, a business, an institution, an individual, a government or political subdivision thereof, including an agency, or any other organization that can exercise independent legal standing. 

1.12    “Exploit” means, collectively, to Develop, Manufacture and Commercialize, including to have
Developed, to have Manufactured, to have Commercialized, and otherwise to commercially exploit. “Exploitation” has a correlative meaning. 

1.13    “Fair Market Value” means (a) in the case of arm’s length sale of a Licensed Product,
(i) the cash consideration that Company, its Subsidiary, or Sublicensee has realized from such sale, or (ii) if there have been no such sales or such sales have been insufficient, the cash consideration that Company, its Subsidiary, or
Sublicensee would have realized from an unaffiliated, unrelated buyer in an arm’s length sale of Licensed Product in the same quantity, under the same terms, and at the same time and place as the sale for which Fair Market Value is being
determined; or (b) in the case of non-cash consideration received in a sale of a Licensed Product, the cash value of such consideration. 

1.14    “FDA” means the United States Food and Drug Administration or any successor Entities thereto.

 1.15    “First Commercial Sale” means, on a jurisdiction-by-jurisdiction basis, the first time a Commercial Sale is made. 

1.16    “Flagship Entities” means, collectively, Flagship, Flagship Management and any Entity that
controls, is controlled by, or is under common control with, Flagship, directly or indirectly. For purposes of this definition, “control” and its various forms means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of such Entity, whether through ownership of voting securities, by contract or otherwise. Without limiting the generality of the foregoing, an Entity will be deemed to control another Entity if it owns or
directly or indirectly controls more than fifty percent (50%) of the voting stock or other securities of the Entity. For purposes of this Agreement, Company and its Subsidiaries shall be deemed excluded from the meaning of “Flagship
Entities.” 

  
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 CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 1.17    “Foundational IP” means (a) the Patents
conceived before Launch of the Company, set forth in Exhibit A, which Exhibit may be updated from time to time by the Parties, and (b) Improvements to such Patents described in clause (a). 

1.18    “Governmental Authority” means any supranational, national, federal, state, provincial, local or
foreign Entity of any nature exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any governmental authority, agency, department, board, commission, court, tribunal, judicial
body or instrumentality of any union of nations, federation, nation, state, municipality, county, locality or other political subdivision thereof. 

1.19    “Gross Sales” means the greater of the gross invoice or contract price charged to a Third Party
by Company, its Subsidiaries, or Sublicensees, as applicable, for Commercial Sales, prior to any discounts or other list price reductions granted. [***]. 

In the event Company, its Subsidiary, or Sublicensee transfers a Licensed Product to a Third Party in a bona fide arm’s length transaction, for any
consideration other than cash, then the Gross Sales price for such Licensed Product shall be deemed to be the standard invoice price then being invoiced by Company, its Subsidiary, or Sublicensee, as applicable, in an arm’s length transaction
with similar companies. In the absence of such standard invoice price, then the Gross Sales price shall be the Fair Market Value of the Licensed Product. Sales or other transfers of Licensed Products between Company and its Subsidiaries or
Sublicensees shall be excluded from the computation of Gross Sales (and therefore no payments will be payable to Flagship on such sales or transfers) except where such Subsidiaries or Sublicensees are end users or consumers of Licensed Products in
which event, notwithstanding anything herein to the contrary, Licensed Product transfers to such Subsidiaries and Sublicensees shall be included in Gross Sales. For avoidance of doubt, the sale of Licensed Product by Subsidiaries or Sublicensees to
Third Parties shall be considered as part of Gross Sales. 
 For the avoidance of doubt, disposal of any Licensed Product without charge for use in any
clinical trials, as free samples, or under compassionate use, patient assistance, named patient or test marketing programs or non-registrational studies or other similar programs or studies where Licensed Product is supplied or delivered without
charge, shall not result in any Gross Sales. No Licensed Product donated by Company, its Subsidiary, or Sublicensee to non-profit institutions or government agencies for a
non-commercial purpose shall result in any Gross Sales. 
 [***] 

1.20    “Improvement” means any Patent or pending Patent application with a claim which, if practiced in
the absence of a license, would infringe at least one Valid Claim of the base Patent or pending Patent application. 

  
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 CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 1.21    “Infringement Action” means any threatened,
pending, or ongoing action, claim, litigation, or proceeding (other than oppositions, cancellations, interferences, reissue proceedings, reexaminations, and other ex parte or inter partes administrative proceeding before patent offices), respecting
any Foundational IP in the Licensed Field in the Territory, whether initiated by or against a Flagship Entity or Company, its Subsidiary or Sublicensee. 

1.22    “Launch of the Company” means the closing of the Series B financing of the Company or the first
day of employment by Company of a Chief Executive Officer, whichever is earlier. 
 1.23    “Laws”
means all active governmental constitutions, laws, statutes, ordinances, treaties, rules, common laws, rulings, regulations, orders, charges, directives, determinations, executive orders, writs, judgments, injunctions, decrees, restrictions or
similar legally effective pronouncements of any Governmental Authority. 
 1.24    “Licensed Field”
means therapeutics. 
 1.25    “Licensed Product” means any product or process or component of
either of the foregoing, the Exploitation of which would, in the absence of the licenses granted to Company hereunder, infringe at least one Valid Claim. 

1.26    “Manufacturing” means all activities directed to sourcing of necessary raw materials, producing,
processing, packaging, labeling, quality assurance testing, release of a Licensed Product or Licensed Product candidate, whether for Development or Commercialization. When used as a verb, “Manufacture” means to engage in
Manufacturing. 
 1.27    “Net Sales” means all Gross Sales of Licensed Product less the total of the
following deductions [***]: 
 (a)    [***]; 

(b)    [***]; 

(c)    [***]; and 

  
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 (d)    [***]. 

[***] 
 Components of Net Sales shall be determined in the
ordinary course of business using the accrual method of accounting in accordance with generally accepted accounting principles, consistently applied. 
 No
deductions shall be made from Net Sales for commissions paid to individuals whether they are (i) with independent sales agents or agencies, (ii) regularly employed by Company, its Subsidiaries, or Sublicensees on its or their payroll, or
(iii) for the cost of collections. 
 1.28    “New IP” means any and all Patents
claiming any inventions conceived (a) solely by Flagship Management or jointly by Flagship Management and Company, (b) after the Launch of the Company, and (c) as a result of activities conducted pursuant to the Managerial Agreement
or other participation of Flagship Management in Company’s affairs (e.g., through participation in Company’s board of directors), all of the foregoing solely to the extent such Patents do not constitute Foundational IP. Patents within the
New IP are set forth on Exhibit B, which Exhibit may be updated from time to time by the Parties. 

1.29    “Patent Costs” has the meaning assigned in Section 7.2. 

1.30    “Patents” means (a) United States and foreign patents and/or patent
applications; (b) any and all patents issuing from the foregoing; (c) any and all claims of continuation-in-part applications that claim priority to the United
States patent applications, but only where such claims are directed to inventions disclosed in the manner provided in the first paragraph of 35 U.S.C. § 112 in such United States patent applications, and such claims in any patents issuing from
such continuation-in-part applications; (d) any and all foreign patent applications, foreign patents, or related foreign patent documents that claim priority to the
patents and/or patent applications; and (e) any and all divisionals, continuations, reissues, re-examinations, renewals, substitutions, and extensions of the foregoing. 

1.31    “Prosecution” means the filing, preparation, prosecution (including any
interferences, reissue proceedings, reexaminations, oppositions and other ex parte or inter partes administrative proceeding before patent offices), extension, term adjustment, and maintenance of Foundational IP. When used as a verb,
“Prosecute” means to engage in Prosecution. 
 1.32    “Quarter” means
each three-month period beginning on January 1, April 1, July 1 and October 1 of each Calendar Year; provided, however, that as it relates to the Commercial Sale of Licensed Products, the first Quarter shall be comprised of the
time period beginning on the date of First Commercial Sale and ending at the end of the Quarter during which such First Commercial Sale occurs. 

1.33    “Recipient Entity” has the meaning assigned in Section 6.1. 

  
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 1.34    “Regulatory Approval” means, with respect to a
country or other jurisdiction, all approvals, licenses, clearances, marks, registrations, authorizations certificates, exemptions, consents, franchises, concessions, notices or other like item of or issued by any Regulatory Authority, from the
relevant Governmental Authority necessary or useful to commercially distribute, sell or market a product in such country or other applicable jurisdiction (not including any applicable pricing and governmental reimbursement approvals unless legally
required to market the product in a country or other applicable jurisdiction). 
 1.35    “Regulatory
Authority” means any applicable Governmental Authority involved in granting Regulatory Approval for, and responsible for the regulation of, the product in any jurisdiction, including the FDA, EMA, and any corresponding Governmental
Authority. 
 1.36    “Royalty Term” means, on a Licensed Product-by-Licensed Product and jurisdiction-by-jurisdiction basis, the period from the First Commercial Sale of such Licensed
Product in the Licensed Field in such jurisdiction until the expiration of the last Valid Claim of any Foundational IP covering such Licensed Product in the Licensed Field in such jurisdiction. 

1.37    “Sublicensee” means any Entity that enters into an agreement or arrangement with Company, or
receives from Company a license grant or option for license grant under any Foundational IP, to exercise any of the rights granted to Company by Flagship hereunder (such agreement, arrangement, or license herein referred to as a
“Sublicense”), including to Exploit a Licensed Product, subject to the then-current applicable article, item, service, technology, and technical data-specific requirements of the U.S. export Laws. 

1.38    “Subsidiary” means any Entity that is controlled by a Party, directly or indirectly. For purposes
of this definition, “control” and its various forms means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Entity, whether through ownership of voting securities,
by contract or otherwise. Without limiting the generality of the foregoing, a Party will be deemed to control another Entity if the Party owns or directly or indirectly controls more than fifty percent (50%) of the voting stock or other securities
of the Entity. 
 1.39    “Term” means the term of this Agreement which will commence on the Effective
Date and expire upon the expiration of the last Royalty Term for the last Licensed Product, unless terminated earlier pursuant to Article 12. 

1.40    “Territory” means worldwide. 

1.41    “Third Party” means any Entity other than a Party, a Subsidiary of Company or a Flagship Entity.

 1.42    “Valid Claim” means (a) an unexpired claim of an issued Patent within the Foundational
IP that has not been ruled unpatentable, invalid or unenforceable by a final and unappealable decision of a court or other competent authority in the subject jurisdiction; or (b) a pending claim of a Patent application within the Foundational
IP which (i) has not been abandoned or finally disallowed without possibility of appeal and (ii) has not been pending for more than [***] from its filing date. 

  
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	2.	 LICENSE GRANT AND ASSIGNMENTS 

2.1    Assignment of Foundational IP to Flagship. Company hereby irrevocably and unconditionally assigns to Flagship
all of its right, title and interest in and to all Foundational IP as of the Effective Date and thereafter. Company shall take all further actions reasonably requested by Flagship to vest in Flagship all right, title and interest in and to such
Foundational IP. 
 2.2    License Grant to Company. Subject to the terms and conditions set forth herein
(including Article 6), Flagship hereby grants to Company an exclusive, royalty-bearing, sublicensable (subject to the provisions of Section 2.3), transferable (subject to the provisions of Section 14.5) license under the Foundational IP to
Exploit Licensed Products in the Licensed Field, during the Term and throughout the Territory. 

2.3    Sublicensing. Company shall have the right to sublicense, through multiple tiers, the rights licensed to
Company hereunder, provided that: 
 (a)    Any and all Sublicenses shall be in writing (and Company shall provide a
copy of all such Sublicenses to Flagship upon execution) and consistent with the terms of this Agreement (including an assignment of Foundational IP to Company, with a right of further transfer to Flagship, consistent with Section 2.1 and
reversion rights consistent with Section 2. 7). 
 (b)    Company shall notify Flagship in writing of any [***].
Company hereby agrees to remain fully liable under this Agreement to Flagship for the performance or non-performance under this Agreement and the relevant Sublicense by any party to those agreements. 

(c)    Company shall enforce all such Sublicenses against its Sublicensees, ensuring its Sublicensees’ performance in
accordance with the terms of this Agreement and the relevant Sublicense. No such Sublicense or attempt to obtain a Sublicense shall relieve Company of its obligations hereunder to exercise its Commercially Reasonable Efforts pursuant to Section 3.1,
directly or through a Sublicensee, to Develop and Commercialize Licensed Products, nor relieve Company of its obligations to pay Flagship any and all royalties and other payments due under this Agreement. 

(d)    Such Sublicensees shall have the right to grant further sublicenses to Third Parties of same or lesser scope as its
sublicense from Company under the licenses contained in Section 2.2, provided that such further Sublicenses shall be in accordance with and subject to all of the terms and conditions of this Section 2.3 (i.e., such Sublicensee shall be
subject to this Section 2.3 in the same manner and to the same extent as Company). For clarity, any Entity to whom a Sublicensee grants a sublicense as permitted by the terms of this Agreement shall be deemed to be a Sublicensee for purposes of this
Agreement. 
 2.4    Assignment of New IP to Company. Flagship hereby irrevocably and unconditionally assigns to
Company all of its right, title and interest in and to all New IP as of the Effective Date and thereafter. [***] Flagship shall take all further actions reasonably requested by Company to vest in Company all such right, title and interest in and to
such New IP. 

  
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 2.5    Notice of Foundational IP and New IP. Upon the filing of
any Foundational IP or New IP during the Term, the Party making or becoming aware of such filing shall promptly notify the other Party, and the Parties shall update the Foundational IP set forth on Exhibit A and the New IP set
forth on Exhibit B, as applicable .. 
 2.6    Retained Rights; License Back. The licenses granted to
Foundational IP hereunder are subject to and contingent upon Company’s compliance with all of its obligations hereunder including, but not limited to, the payment by Company to Flagship of all payments required under this Agreement, and further
subject to rights hereby retained by Flagship and/or granted by Company to Flagship. Company hereby grants to Flagship a non-exclusive, royalty-free, fully paid, sublicensable (to Flagship Entities and service
providers thereof) license to practice, and permit Flagship Entities to practice, the Foundational IP within the Licensed Field in the Territory for non-commercial research and Development purposes or to
perform under the Managerial Agreement. 
 2.7    Reversion Rights 

(a)    [***] Company has not used, itself or through Sublicensees, Commercially Reasonable Efforts to Develop or
Commercialize Licensed Products in a specified sub-field within the Licensed Field (each, a “Sub-Field”), Flagship has the right, at any time during the Term,
to terminate the license granted to Company hereunder with respect to Exploitation of Licensed Products in such Sub-Field upon [***] prior written notice to Company (each, a
“Sub-Field Termination Notice”). 
 (b)    Within [***] of
Company’s receipt of a Sub-Field Termination Notice, Company shall provide to Flagship either (i) written notice of its agreement to terminate Company’s license in such Sub-Field, or (ii) written notice requesting to maintain Company’s license in such Sub-Field, together with a written plan for Development and Commercialization of a
Licensed Product in such Sub-Field (which may include activities to be conducted by a Sublicensee), including planned Development and Commercialization milestones (and a timeline and budget therefor) and a
management and financial plan (“Sub-Field Plan”). Flagship shall consider such Sub-Field Plan in good faith and shall not unreasonably withhold its approval of
such Sub-Field Plan. In the event Flagship approves of such Sub-Field Plan, (x) Flagship shall withdraw the Sub-Field
Termination Notice upon written notice to Company, (y) the license granted to Company hereunder in such Sub-Field shall remain in effect unless and until subsequently terminated in accordance with this
Agreement (including termination under this Section 2.7 following a subsequent Sub-Field Termination Notice by Flagship with respect to the same Sub-Field) and
(z) Company shall carry out the Sub-Field Plan. 
 (c)    Unless Flagship
elects to withdraw the Sub-Field Termination Notice pursuant to Section 2. 7(b ), the license granted to Company hereunder in such Sub-Field shall automatically
terminate and revert to Flagship on the earlier of: (i) the date upon which Company agrees in writing to terminate Company’s license in such Sub-Field [***]

  
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(a “Reversion Effective Date”). Upon the Reversion Effective Date, (x) any such Sub-Field shall be deemed a “Reversion Sub-Field”, (y) the meaning of the Licensed Field shall be deemed amended to exclude each Reversion Sub-Field for all purposes hereunder and (z) any rights under the
Foundational IP granted to any Sublicensee in a Reversion Sub-Field shall terminate automatically. Commencing upon the Reversion Effective Date and continuing thereafter, neither Company nor any Sublicensee
will have any right to, or will undertake to, Exploit any Licensed Product in a Reversion Sub-Field, and Company will ensure all Sublicensees comply with the foregoing. 

2.8    No Implied Licenses. Except as expressly provided under this Article 2, no right or license is granted under
this Agreement (expressly or by implication or estoppel) by either Party to the other Party, its Subsidiaries or Sublicensees under any tangible or intellectual property. 
  

	3.	 DUE DILIGENCE 

3.1    Commercially Reasonable Efforts. At all times throughout the Term and at Company’s sole cost and
expense, Company shall use Commercially Reasonable Efforts to diligently Exploit the Licensed Products in the Licensed Field and Territory. [***]. 

3.2    Annual Spend. In furtherance of Company’s obligations in Section 3.1, Company shall spend
(a) at least [***] Dollars ($[***]) on Development and/or Commercialization activities with respect to Licensed Products in the Licensed Field during each year of the Term (with such year to be calculated beginning on the Effective Date and
terminating on each annual anniversary thereafter), and (b) no less than [***] Dollars ($[***]) on Development and/or Commercialization activities with respect to Licensed Products in the Licensed Field during the period beginning on the
Effective Date and ending on the [***] anniversary of the Effective Date. 
  

	4.	 PAYMENTS 

4.1    Royalties. As additional consideration for the license and other rights granted under this Agreement, during
the Royalty Term, Company shall pay to Flagship [***]% of Net Sales on a Licensed Product-by-Licensed Product basis. 

4.2    Notwithstanding anything to the contrary herein, Company will pay Flagship [***] under this Agreement with respect
to the same unit of Licensed Product sold, regardless of the number of Valid Claims covering such Licensed Product. 
  

	5.	 REPORTS AND PAYMENT TERMS 

5.1    Reporting of First Commercial Sale. Company shall provide a written report to Flagship setting forth the date
of First Commercial Sale in each jurisdiction within [***] of the occurrence thereof. 

  
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	 	5.2	 Bi-Annual Royalty Report. 

(a)    Within [***] after the Quarter in which any First Commercial Sale occurs, and within [***] after each alternating
Quarter thereafter [***] Company shall provide Flagship with a written report detailing the amount of Gross Sales during the preceding two Quarters, the amount of Net Sales made during such Quarters and the royalty payments due to Flagship for such
Quarters pursuant to Article 4 (each such report, a “Bi-Annual Report”). 

(b)    Each Bi-Annual Report shall include at least the following: accounting for
Net Sales, detailing the Gross Sales and specifying the deductions taken to arrive at Net Sales, listed by Licensed Product and by jurisdiction, and total royalty payments due to Flagship by Licensed Product and by jurisdiction. Each Bi-Annual Report shall be in substantially similar form as Exhibit C hereto, or to such other form as Flagship may provide from time to time. Each Bi-Annual Report
shall be certified as true and correct by an officer of Company. 
 (c)    With each
Bi-Annual Report submitted, Company shall pay to Flagship the royalties due and payable under this Agreement, to the extent not already paid. If no royalties or fees are due and payable, Company shall so
report. 
 5.3    Payment and Currency. All dollar amounts referred to in this Agreement are expressed in United
States dollars (“Dollars”) and Company shall make all payments due to Flagship in Dollars, without deduction of exchange, collection, wiring fees, bank fees, or any other charges, within [***] following the Quarter in which Net
Sales occur. All payments to Flagship will be made in Dollars by wire transfer or check payable to Flagship in accordance with the payment instructions set forth on Exhibit D hereto or as otherwise provided by Flagship from time to time.

 5.4    Currency Exchange; Taxes. For converting any Net Sales made in a currency other than Dollars, the
Parties will use the conversion rate published in the Wall Street Journal or other industry standard conversion rate approved in writing by Flagship for the last day of the Quarter for which such royalty payment is due or, if the last day is not a
Business Day, the closest preceding Business Day. All applicable taxes and other charges such as duties, customs, tariffs, imposts and government imposed surcharges on payments made under this Agreement (for the avoidance of doubt, not including
income taxes imposed directly upon Flagship or its owners) shall be borne by Company and will not be deducted from payments due to Flagship. 

5.5    Late Payments. In the event royalty payments or other fees are not received by Flagship when due hereunder,
Company shall pay to Flagship interest charges that will accrue interest until paid at a rate equal to [***] calculated on the number of days such payment is overdue. 

5.6    Records and Audit Rights. Company shall keep, and cause its Subsidiaries and Sublicensees to keep, complete,
true and accurate records and books containing all particulars that may be necessary for the purpose of showing the amounts payable to Flagship hereunder. Copies of all such records and books shall be kept at the applicable Entity’s principal
place of business or the principal place of business of the appropriate division of such Entity to which this Agreement relates. The records and books for each Quarter will be maintained for at least [***] after

  
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the Calendar Year in which the applicable report was submitted to Flagship. Such records and books and the supporting data shall be open to inspection by Flagship, its contractors or agents at
all reasonable times for a term of [***] following the end of the Calendar Year to which they pertain, for the purpose of verifying the Bi-Annual Report or compliance in other respects with this Agreement.
Such access will be available to Flagship, its contractors or agents upon not less than [***] written notice to Company, or its Subsidiary or Sublicensee, as applicable, not more than twice each Calendar Year during the Term and once per Calendar
Year after the expiration or termination of this Agreement. Should such inspection lead to the discovery of at least a [***] percent ([***]%) or [***] dollar ($[***]) discrepancy in reporting to Flagship’s detriment (whichever is greater),
Company agrees [***]. Whenever Company, or its Subsidiary or Sublicensee has its books and records audited by an independent certified public accountant with respect to any Quarter in which amounts are payable to Flagship hereunder, Company, or its
Subsidiary or Sublicensee, as applicable, will, within [***] of the conclusion of such audit, provide Flagship with a written statement, certified by said auditor, setting forth the calculation of royalties, fees, and other payments due to Flagship
over the time period audited as determined from the books and records of such Entity, together with the payment of any outstanding amounts due to Flagship. 
  

	6.	 CONFIDENTIALITY; PUBLICITY; USE OF NAME 

6.1    Confidentiality. The receiving Party shall maintain in confidence and not disclose to any Third Party any of
disclosing Party’s Confidential Information, using the same degree of care it uses to protect its own confidential information of a similar nature but in no event using less than a reasonable degree of care. The receiving Party will use
disclosing Party’s Confidential Information solely as required to exercise its rights and undertake its obligations under this Agreement (the “Purpose”) and only during the Term. The receiving Party will ensure that its
employees, independent contractors, Subsidiaries, Sublicensees (in the case of Company) and Flagship Entities (in the case of Flagship) (“Recipient Entities”) have access to disclosing Party’s Confidential Information only on a
need to know basis, are informed of all the obligations attaching to such Confidential Information in advance of being given access to it, and are required to comply with such receiving Party’s obligations under this Agreement. Receiving Party
shall be fully responsible to disclosing Party for such compliance by its Recipient Entities. If such a Recipient Entity is not an employee of a Party hereto, then receiving Party will enter into a legally binding, written confidentiality agreement
with provisions at least as strict as the confidentiality obligations and use restrictions herein with such Recipient Entity prior to disclosing Party’s Confidential Information to such Recipient Entity, and receiving Party will be fully
responsible to disclosing Party for compliance with such obligations and restrictions by such Recipient Entity. 

6.2    Notwithstanding Section 6.1, the receiving Party may disclose disclosing Party’s Confidential Information
to the limited extent required by Law, court order or other Governmental Authority with jurisdiction, provided that the receiving Party (a) promptly provides the disclosing Party, to the extent legally permissible, with written notice of such
requirement, (b) uses no less than reasonable efforts to obtain confidential treatment of such Confidential Information by such court or Governmental Authority, and (c) cooperates, at the disclosing Party’s written request and
expense, with the disclosing Party’s legal efforts to prevent or limit the scope of such required disclosure; the receiving Party shall in all other respects continue to hold such Confidential Information as confidential and subject to all
obligations of this Article 6. The receiving Party’s 

  
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obligations of confidentiality and non-use restrictions as set forth in this Article 6 shall remain in effect for a period of [***] from receipt of the
Confidential Information from the disclosing Party. 
 6.3    Each Party agrees to treat the terms and conditions of
this Agreement as the Confidential Information of the other Party, provided however that, in addition to the above exceptions, each Party shall be free to disclose any of the terms of this Agreement (i) to the extent that a Party is advised by
its counsel that such disclosure is required by the regulations or rules of any relevant stock exchange, (ii) to actual or prospective investors, partners and Sublicensees, (iii) to its accountants, attorneys and other professional
advisors, or (iv) in connection with a financing, merger, consolidation, acquisition or a permitted assignment of this Agreement; provided that (a) in the case of any disclosure under clause (ii), (iii), or (iv) above, the
recipient(s) are obligated and do so undertake to keep such terms of this Agreement confidential to the same extent as said Party (said Party being fully responsible to the other Party for such recipients’ compliance), and (b) in the case
of disclosure under clause (i), such disclosure shall be in accordance with Section 6.2. 

6.4    Publicity. Neither Party shall issue or release any announcement, statement, press release or other
publicity or marketing materials relating to this Agreement without the prior written consent of the other Party. The Parties will cooperate to determine the timing and content of such announcement, statement, press release or other publicity or
marketing materials. 
 6.5    Use of Flagship’s Name. Company and its Subsidiaries, Sublicensees, employees
and agents may not use the name, logo, seal, trademark, service mark or domain names or other indicia of source, association or sponsorship of any Flagship Entity, or any officer, director or other representative of any Flagship Entity (or any
adaptation of any of the foregoing) without the prior written consent of such Flagship Entity, which consent will be granted or denied in such Flagship Entity’s sole discretion. 

 

	7.	 PATENT PROSECUTION AND COSTS 

7.1    Patent Prosecution. [***] shall control the Prosecution of Foundational IP and the selection of patent
counsel (provided that [***] does not reasonably object to such patent counsel). [***] will request that copies of all material documents prepared by patent counsel be provided to [***] for review and comment prior to filing, to the extent
reasonably practicable under the circumstances. [***] will consider any timely comments and requests from [***] in good faith; provided, however, that [***] shall have final authority regarding all Prosecution decisions. In the event [***] decides
not to Prosecute or intends to abandon the registration or application of any rights in and to any Foundational IP in any jurisdiction in the Territory, [***] shall provide [***] with written notice of such circumstance as promptly as practicable,
and, upon [***] request, [***] shall have the right to undertake Prosecution of such Foundational IP in such jurisdiction at its sole cost and expense. [***] will maintain as confidential and privileged, and as [***] Confidential Information in
accordance with Article 6, all information received pursuant to this Section 7 .1. 
 7.2    Patent Costs.
Within [***] after the Effective Date, [***] will reimburse [***] for all attorneys’ fees, expenses, official fees and all other reasonable out-of-pocket expenses
incurred by [***] in connection with the Prosecution of the Foundational IP 

  
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(“Patent Costs”) prior to the Effective Date and not previously reimbursed by [***]. In addition, within [***] after receipt of an invoice from [***] will reimburse [***] for all
Patent Costs incurred prior to or during the Term and not previously reimbursed by [***]. 
 7.3    Non-Payment of Patent Costs. If [***] decides that it does not wish to pay the Patent Costs of any Foundational IP in a particular jurisdiction, [***] shall provide [***] with written notice of such election.
Upon the date which is [***] following notice of such election with respect to any Patent, (a) [***] shall be released from its obligation to reimburse [***] for Patent Costs incurred thereafter as to such Patent; provided, however, that Patent
Costs authorized prior to the receipt by [***] of such notice shall be deemed incurred prior to receipt of the notice and reimbursable by [***], (b) any license granted by [***] to [***] hereunder with respect to such Patent will immediately
terminate, and [***] will have no rights whatsoever to Exploit such Patent, and (c) [***] will be free, without further notice or obligation to [***] to grant rights in and to such Patent to any Third Parties. Should [***] decline or fail to
pay, by the deadline set forth in Section 7.2, the Patent Costs for the Prosecution of any Foundational IP payable under this Agreement, [***] may terminate this Agreement solely with respect to such Patent upon written notice to [***], in
which event any license granted by [***] to [***] hereunder with respect to such Patent will immediately terminate, [***] will have no rights whatsoever to Exploit such Patent, and [***] will be free, without further notice or obligation to [***] to
grant rights in and to such Patent to any Third Parties. 
 7.4    Privileged Communications. It is expected
that, in furtherance of this Agreement, the Parties and/or their respective counsel will, from time to time, disclose to one another privileged communications between a Party and its counsel, including opinions, memoranda, letters, and other
written, electronic, and verbal communications. Such disclosures are made with the understanding that they shall remain privileged and confidential and that they are made in connection with the shared community of identical legal interests existing
between the Parties, including the community of legal interests in avoiding infringement of any valid, enforceable third party Patents and in obtaining patent protection for Foundational IP. 

 

	8.	 INFRINGEMENT 

8.1    Notice. In the event that either Party becomes aware of any suspected infringement of any Foundational IP or
of any Infringement Action, such Party shall promptly notify the other Party in writing thereof. Company and Flagship will consult each other in a timely manner concerning any appropriate response to such suspected infringement or Infringement
Action. 
 8.2    Procedure. 

(a)    As between the Parties, [***] will have the first right to prosecute any Infringement Action against an infringing
Third Party at its own expense. If, within [***] after becoming aware of any suspected infringement or Infringement Action, [***] has not commenced to initiate, defend, or otherwise resolve such Infringement Action, then [***] shall have the right,
but not the obligation, to initiate, control, prosecute, and/or defend such Infringement Action at its own expense. 

  
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 (b)    The Party controlling any Infringement Action shall use reasonable
efforts to: (i) inform the other Party of the status of such Infringement Action on a regular basis; (ii) provide to the other Party copies of any documents relating to the Infringement Action promptly upon receipt from any Third Party
and/or, if practicable, prior to filing such documents; (iii) consult with the other Party regarding the advisability of any contemplated course of action; and (iv) consider any comments from the other Party in good faith, including with
respect to the infringement, claim construction, or defense of the validity or enforceability of any claim in the involved Foundational IP. The Party without primary control of an Infringement Action shall cooperate at its own expense with the Party
controlling such Infringement Action to the extent reasonably practicable, including joining the Infringement Action if necessary or desirable. 

(c)    [***] may not settle any Infringement Action without the prior written consent of [***]. For clarity, if the
settlement of any Infringement Action includes granting a Sublicense, Company shall pay to Flagship royalties on any Net Sales by such Sublicensee in accordance with Article 4 in addition to any other share of recoveries due to Flagship under
Section 8.3. 
 8.3    Recoveries. 

(a)    Any recovery obtained by Company as a result of any Infringement Action, by settlement or otherwise, shall be
applied in the following order of priority: (i) first, to [***] and (ii) second, the remainder of the recovery shall be [***]. 

(b)    Any recovery obtained by Flagship as a result of any Infringement Action, by settlement or otherwise, shall be
applied in the following order of priority: (i) first, to [***] and (ii) second, the remainder of the recovery shall be [***]. 
  

	9.	 REPRESENTATIONS; DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITIES 

9.1    Certain Representations. Each Party represents to the other Party that, as of the Effective Date: 

(a)    it has the full right, power and authority to enter into this Agreement and to perform its obligations hereunder;
and 
 (b)    this Agreement has been duly authorized and executed by it and is legally binding upon it, enforceable in
accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any applicable Law or applicable regulation of any Governmental
Authority having jurisdiction over it. 

  
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(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 9.2    Company Representations, Warranties and Covenants. Company
represents, warrants, and covenants to Flagship that: 
 (a)    it, and its Subsidiaries, agents, and employees who are
or shall be involved in the performance of this Agreement, have not been, and during the Term of this Agreement shall not be, debarred, excluded or disqualified (or convicted of any crime or engaged in any conduct for which debarment, exclusion or
disqualification is mandated) under any Law, including pursuant to 21 U.S.C. § 335a; 
 (b)    to its reasonable
knowledge, no Third Party that, on behalf of Company, has been or during the Term of this Agreement will be, involved in the Development, Manufacture or Commercialization of the Licensed Products (each a “Company Partner”), has been
or will be debarred, excluded or disqualified (or convicted of any crime or engaged in any conduct for which debarment, exclusion or disqualification is mandated) under any Law, including pursuant to 21 U. S.C. § 335a; 

(c)    Company, and its Subsidiaries, agents, and employees involved in the performance of this Agreement, and Company
Partners, shall perform this Agreement in full compliance with all applicable Laws; and 
 (d)    Company shall notify
Flagship in writing immediately in the event of a violation of any of the foregoing, and shall, with respect to any Entity involved in such violation, promptly remove such Entity from performing any role under this Agreement. 

9.3    DISCLAIMER OF WARRANTIES. THE FOUNDATIONAL IP, NEW IP, AND ANY OTHER TECHNOLOGY OR INFORMATION PROVIDED,
ASSIGNED OR LICENSED UNDER THIS AGREEMENT ARE PROVIDED ON AN “AS IS” BASIS. NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF ACCURACY, COMPLETENESS, PERFORMANCE,
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, COMMERCIAL UTILITY, SCOPE, OR TITLE WITH RESPECT THERETO. 

9.4    DISCLAIMER OF LIABILITIES. EXCEPT FOR [***], GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, NEITHER PARTY WILL BE
LIABLE TO THE OTHER PARTY FOR SPECIAL, CONSEQUENTIAL, OR OTHER INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS OR BUSINESS INTERRUPTION). NO FLAGSHIP ENTITY WILL BE LIABLE TO COMPANY, ITS SUBSIDIARIES, SUCCESSORS OR ASSIGNS, OR TO ANY
THIRD PARTY (INCLUDING SUBLICENSEES) WITH RESPECT TO ANY CLAIM ARISING FROM OR ATTRIBUTABLE TO USE BY COMPANY, ITS SUBSIDIARIES, OR SUBLICENSEES OF THE FOUNDATIONAL IP, NEW IP OR ANY OTHER TECHNOLOGY OR INFORMATION PROVIDED, ASSIGNED OR LICENSED
UNDER THIS AGREEMENT, OR ARISING FROM THE EXPLOITATION OF LICENSED PRODUCTS. 

  
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(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 9.5    LIMITATION OF LIABILITY. NOTWITHSTANDING ANY PROVISION IN
THIS AGREEMENT TO THE CONTRARY, FLAGSHIP’S AGGREGATE LIABILITY UNDER THIS AGREEMENT SHALL NOT EXCEED [***]. 
  

	10.	 INDEMNIFICATION 

10.1    Indemnification. Company will indemnify, hold harmless and, at Flagship’s option, shall defend the
Flagship Entities, and their respective officers, directors, agents employees, successors and assigns (each, an “Indemnified Party”) from and against any and all claims, actions, liabilities, losses, damages, judgments, costs or
expenses suffered or incurred by the Indemnified Parties, including attorneys’ fees and related costs (collectively, “Liabilities”), arising out of or resulting from [***]. 

10.2    Indemnification Procedure. An Indemnified Party will promptly provide Company with written notice of any
Liability that is indemnifiable under this Article 10; provided, however, that the failure to so notify shall not relieve Company of its indemnification obligations hereunder except to the extent of any material prejudice to Company as a direct
result of such failure. If Flagship so directs in writing, Company shall control such defense and all negotiations relative to the settlement of any indemnifiable claim or action, except that Company shall not settle or compromise any claim or
action in any manner that may impose restrictions or obligations on any Indemnified Party, or that grants any rights to the Foundational IP or Licensed Products, or that concedes any fault or wrongdoing on the part of Flagship, without
Flagship’s prior written consent. If Company fails or declines to assume the defense against any claim or action within [***] after notice thereof, then Flagship may assume and control the defense of such claim or action for the account and at
the risk of Company, and any Liabilities related to such claim or action will be conclusively deemed a liability of Company. The indemnification rights of the Indemnified Parties under this Article 10 are in addition to all other rights that an
Indemnified Party may have at law, in equity or otherwise. 
  

	11.	 INSURANCE 

11.1    Coverages. Company will procure and maintain insurance policies for commercially reasonable amounts with
respect to personal injury, bodily injury, property damage and contractual liability arising out of Company’s performance under this Agreement, and, [***], clinical trials coverage in a minimum amount of [***] Dollars ($[***] USD) combined
single limit per occurrence and in the aggregate; and, prior to the sale of the first Licensed Product, product liability coverage, in a minimum amount of [***] Dollars ($[***] USD) combined single limit per 

  
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(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 
occurrence and in the aggregate. [***] Upon request, Company shall provide certificates of insurance and applicable endorsements evidencing the required insurance coverages noted herein. The
failure of Flagship to request said evidence of coverage shall not constitute or be construed as a waiver of Company’s insurance obligations. [***] Company’s comprehensive general liability insurance shall be primary and non-contributory to any insurance maintained by Flagship. The required minimum amounts of insurance do not constitute a limitation on Company’s liability or indemnification obligations to Flagship under this
Agreement. 
 11.2    Other Requirements. Any policies of insurance required by Section 11.1 will be issued
by an insurance carrier with an A.M. Best rating of [***] or better. 
  

	12.	 TERM AND TERMINATION 

12.1    Expiration of Royalty Term. Upon expiration of the Royalty Term with respect to a Licensed Product in any
jurisdiction and payment in full of all amounts owed hereunder with respect to such Licensed Product in such jurisdiction, the license granted to Company under Section 2.2 shall automatically convert into a
non-exclusive, fully paid up license for such Licensed Product in such jurisdiction. 

12.2    Termination by Flagship. 

(a)    For Cause. Flagship may give written notice of default to Company, if Company materially breaches any
obligation, covenant, condition, or undertaking of this Agreement to be performed by it hereunder (including, e.g., if Company should cease or fail to undertake Commercially Reasonable Efforts with respect to Licensed Products, fail to make any
payment at the time such payment is due, or fail to maintain the insurance coverage required hereunder). If Company should fail to cure such default within thirty (30) days of such notice, this Agreement (including, for the avoidance of doubt,
all licenses granted to Company hereunder) shall terminate immediately upon written notice to Company. 

(b)    Cessation of Business; Bankruptcy. If Company shall cease to carry on its business with respect to the
rights granted in this Agreement, this Agreement shall terminate upon thirty (30) days’ written notice by Flagship. Flagship may terminate this Agreement upon written notice to Company, if Company experiences an Event of Bankruptcy. For
purposes of this provision, the term “Event of Bankruptcy” means: (i) filing by Company in any court or agency pursuant to any statute or regulation of any state or country, a petition in bankruptcy or insolvency or for
reorganization or for an arrangement or for the appointment of a receiver or trustee of Company or of its assets; (ii) Company being served with an involuntary petition against it, filed in any insolvency proceeding, where such petition has not
been dismissed within [***] after the filing thereof; (iii) Company proposing or being a party to any dissolution or liquidation of Company; or (iv) Company making a general assignment for the benefit of creditors. 

  
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 (c)    Challenge of Patents. 

(i)    In the event that Company, its Subsidiary or Sublicensee institutes or actively participates as an adverse party
in, or otherwise provides material support to, any Licensed Patent Challenge, Flagship has the right, but not the obligation, in addition to any other remedy it may have available to it at law and/or in equity, to terminate this Agreement
immediately upon providing written notice of the same to Company; provided that if such Licensed Patent Challenge is brought by a Sublicensee, Flagship may not terminate this Agreement under this Section 12.2(c)(i) if Company has terminated all
Sublicenses granted to such Sublicensee hereunder within [***] after Company has received written notice from Flagship of such Licensed Patent Challenge. Notwithstanding any provision of this Agreement, Flagship may seek redress for any Licensed
Patent Challenge in any court of competent jurisdiction in its sole discretion. “Licensed Patent Challenge” means any direct dispute or challenge, or any knowing or willful assistance in the dispute or challenge, of the validity,
patentability, or enforceability of any Foundational IP or any claim thereof, or opposition or assistance in the opposition of the grant of any letters patent within the Foundational IP, in any legal or administrative proceedings, including in a
court of law, before the U.S. PTO or other agency or tribunal in any jurisdiction, or in arbitration, including without limitation by reexamination, inter partes review, opposition, interference, post-grant review, nullity proceeding, preissuance
submission, third party submission, derivation proceeding or declaratory judgment action; provided, however, that the term “Licensed Patent Challenge” shall not include arguments, or any other statements or allegations, made by or on
behalf of Company, its Subsidiary or its Sublicensee that distinguish the inventions claimed in Patents Controlled (except by virtue of this Agreement or a Sublicense) by Company, its Subsidiary or its Sublicensee from those claimed in the
Foundational IP in the ordinary course of ex parte prosecution of such Patents Controlled by Company, its Subsidiary or its Sublicensee, including without limitation any reissue or reexamination patents or patent applications. 

(ii)    Company shall include provisions in all Sublicenses providing that, if the Sublicensee or its affiliate brings or
participates in a Licensed Patent Challenge, the Sublicense will immediately terminate effective as of the first date of the Sublicensee’s or its affiliate’s first filing or participation in such Licensed Patent Challenge. The failure to
include such automatic termination provision in a Sublicense shall constitute a material breach of this Agreement. If a Sublicensee or its affiliate undertakes a Licensed Patent Challenge, Company shall immediately terminate the applicable
Sublicense. Any failure to immediately terminate the Sublicense as required by this Section 12.2(c)(ii) shall constitute a material breach of this Agreement. 

12.3    Termination by Company. Following approval by the board of directors of Company, Company may terminate this
Agreement, in its entirety, (a) without cause by giving sixty (60) days’ prior written notice thereof to Flagship, or (b) upon delivering written notice to Flagship, if Flagship materially breaches any obligation, covenant,
condition, or undertaking of this Agreement to be performed by it hereunder and fails to cure such default within [***] of receiving written notice thereof. 
  

	13.	 EFFECT OF TERMINATION 

13.1    Continuing Obligations. Termination or expiration of this Agreement shall not relieve Company of any
monetary or any other obligation or liability accrued hereunder prior to 

  
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the effective date of such termination, or rescind or give rise to any right to rescind any payments made or other consideration given to Flagship hereunder prior to the effective date of such
termination or expiration. Termination or expiration of this Agreement shall not affect in any manner any rights of Flagship arising under this Agreement prior to the date of such termination or expiration. [***]. 

13.2     Sublicenses. Upon termination of this Agreement in its entirety for any reason other than by Company
pursuant to Section 12.3, any then-current Sublicensee shall, from the effective date of such termination, automatically become a direct licensee of Flagship under, and subject to the terms and conditions of, this Agreement (subject only to
modifications with respect to territory, field and exclusivity consistent with the scope of the applicable Sublicense and so as to accommodate all such Sublicensees), provided that (a) the applicable Sublicense does not provide that it
terminates upon termination of this Agreement, (b) such Sublicensee is not the cause of a breach of this Agreement and is not in breach of the applicable Sublicense (or any provision of this Agreement applicable to such Sublicensee), (c) within
[***] of such termination, such Sublicensee provides written notice to Flagship of its election to become a direct licensee of Flagship pursuant hereto and of its agreement to assume all obligations of Company hereunder, and (d) such
Sublicensee cures any breach by Company of this Agreement (including payment obligations); and provided further, however, that Flagship (x) shall not have under any such direct license (i) any obligations that are greater than or
inconsistent with the obligations of Flagship under this Agreement or (ii) any fewer rights than it has under this Agreement, and (y) shall have no liability for any obligations arising prior to the effective date of such direct license or
for any obligations of Company whenever arising and Flagship shall be released from any and all liability relating to such obligations. 

13.3     Survival of Terms. In addition to any provision which by its terms contemplates performance after the
Term, the following provisions shall survive the expiration or termination of this Agreement: Sections 1 (Definitions), 4 (Payments), 5.4 (Records and Audit Rights), 6 (Confidentiality; Publicity; Use of Name), 9 (Representations; Disclaimer of
Warranties; Limitation of Liabilities), 10 (Indemnification), 11 (Insurance), 13 (Effect of Termination), and 14 (Additional Provisions). 
  

	14.	 ADDITIONAL PROVISIONS 

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

14.2     Compliance with Laws. Company must comply with all prevailing Laws that apply to its activities or
obligations under this Agreement. For example, Company will comply with applicable United States export Laws. The transfer of certain technical data and commodities may require a license from the applicable agency of the United States government
and/or written assurances by Company that Company will not export data or commodities to certain foreign countries without prior approval of the agency. Flagship does not represent that no license is required, or that, if required, the license will
issue. 

  
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 14.3     Marking. Company shall, and agrees to require its
Subsidiaries and Sublicensees to, comply with any marking requirements of the intellectual property Laws of the applicable countries in the Territory to the extent any failure to do so would materially and adversely affect the Foundational IP or any
Licensed Product, or either Party’s ability to avail itself of all potential remedies for any infringement of the Foundational IP, and particularly agrees to permanently and legibly mark all Licensed Products made, used, reproduced, or sold
under the terms of this Agreement, or their respective containers, in accordance with the applicable provisions set forth in the Patent marking and notice provisions under Title 35 of the United States Code. Any Sublicense shall impose on the
Sublicensee obligations substantially similar to those imposed in this paragraph. 
 14.4     Modification, Waiver
and Remedies. This Agreement may only be modified by a written amendment that is executed by an authorized representative of each Party. Any waiver must be express and in writing. No waiver by either Party of a breach by the other Party will
constitute a waiver of any different or succeeding breach. Unless otherwise specified, all remedies are cumulative. 
 14.5
    Assignment. 
 (a)     Company may not assign this Agreement or any part of it, either
directly or by merger or operation of Law, without the prior written consent of Flagship (which consent shall not be unreasonably withheld or delayed). Notwithstanding the foregoing, Company, or a secured creditor of Company after the occurrence and
during the continuance of an event of default, under the applicable loan agreement, that remains uncured [***] following notice of default to Company may, without Flagship’s consent but with prior written notice to Flagship, assign this
Agreement to any Entity in the event of the merger, acquisition, consolidation, reorganization, change of control or sale of securities of Company with or to such Entity, or the transfer or sale of all or substantially all of Company’s assets
to which this Agreement relates to such Entity, provided that (i) Company or such secured creditor provides prior written notice to Flagship of such proposed transaction, and (ii) such Entity agrees in writing to be legally bound by this
Agreement. 
 (b)     Flagship may not assign this Agreement or any part of it, either directly or by merger or
operation of Law, without the prior written consent of Company (which consent shall not be unreasonably withheld or delayed). Notwithstanding the foregoing, Flagship may, without Company’s consent, (i) assign this Agreement (A) to a
Flagship Entity (other than a portfolio company of a Flagship Entity or Subsidiary of such portfolio company), or (B) to any Entity in the event of the merger, acquisition, consolidation, reorganization, change of control or sale of securities
of Flagship with or to such Entity, or the transfer or sale of all or substantially all of Flagship’s assets to which this Agreement relates to such Entity, and (ii) freely assign to any Entity all of Flagship’s rights to receive
royalties under this Agreement, together with information, audit and other related rights, and to enforce such rights against Company. 

(c)     This Agreement is binding upon and inures to the benefit of the parties hereto and their respective permitted
successors and assigns. Any permitted assignment will not relieve the assigning party of responsibility for performance of any obligation of such party that has accrued at the time of the assignment. Any assignment granted, or purported to be
granted, contrary to this Section 14.5 will be null and void. 

  
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 14.6     Notices. Except as otherwise expressly set forth herein,
any notice or other required communication under this Agreement (each, a “Notice”) must be in writing, addressed to the Party’s respective Notice Address, and delivered personally or by globally recognized express delivery
service, charges prepaid. A Notice will be deemed delivered and received: (a) in the case of personal delivery, on the date of such delivery; and (b) in the case of a globally recognized express delivery service, on the Business Day that
receipt by the addressee is confirmed pursuant to the service’s systems. The “Notice Address” of each Party is as follows: 
  

			
	if to Flagship, to:	  	Flagship Pioneering, Inc.
		  	55 Cambridge Parkway, Suite 800E
		  	Cambridge, MA 02142
		  	[***]
		
	if to Company, to:	  	Omega Therapeutics, Inc.
		
		  	55 Cambridge Parkway, Suite 800E
		  	Cambridge, MA 02142
		  	[***]
		
		  	[***]

 14.7     Severability and Reformation. If any provision of this Agreement is held
to be invalid or unenforceable by a court of competent jurisdiction, then the remaining provisions of this Agreement will remain in full force and effect. Such invalid or unenforceable provision will be automatically revised to be a valid or
enforceable provision that comes as close as permitted by Law to the Parties’ original intent. 
 14.8    
Headings and Counterparts. The headings of the articles and sections included in this Agreement are inserted for convenience only and are not intended to affect the meaning or interpretation of this Agreement. This Agreement may be executed
in several counterparts, and execution signatures may be exchanged electronically including by facsimile or as scanned e-mail attachments, and signatures so exchanged shall be considered as original for all
purposes and taken together will constitute one and the same instrument. 
 14.9     Governing Law; Venue. This
Agreement will be governed in accordance with the Laws of the State of Massachusetts, without giving effect to the conflict of law provisions of any jurisdiction. Each Party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts located in Boston, Massachusetts. 
 14.10     Integration. This Agreement, together with all
attached Exhibits, contains the entire agreement between the Parties, and supersedes all other oral or written representations, statements, or agreements with respect to such subject matter, including but not limited to any term sheet exchanged
prior to this Agreement. 

  
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 14.11     Force Majeure. Neither Party will be responsible for
nonperformance caused by forces beyond the reasonable control of such Party, including fire, explosion, natural disaster, war (whether declared or not), act of terrorism, strike, or riot, provided that the nonperforming Party uses reasonable efforts
to avoid or remove such causes of nonperformance and continues performance under this Agreement with reasonable dispatch whenever such causes are removed, and notifies the other Party of such cause as promptly as is reasonably practical given the
circumstances. 
 14.12     Certain Conventions. Any reference in this Agreement to an Article, Section,
subsection, paragraph, clause or Exhibit shall be deemed to be a reference to an Article, Section, subsection, paragraph, clause or Exhibit, of or to, as the case may be, this Agreement, unless otherwise indicated. Unless the context of this
Agreement otherwise requires, (a) all definitions set forth herein shall be deemed applicable whether the words defined are used herein with initial capital letters in the singular or the plural, (b) the word “will” shall be
construed to have the same meaning and effect as the word “shall,” (c) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (d) any reference herein to any Party shall be construed to include the Party’s
successors and assigns, (e) the word “notice” shall mean notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written communications contemplated under this Agreement,
(f) provisions that require that a Party or the Parties “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement,
letter, approved minutes or otherwise (but excluding e-mail and instant messaging), (g) references to any specific Law, rule or regulation, or article, section or other division thereof, shall be deemed to
include the then-current amendments thereto or any replacement or successor Law, rule or regulation thereof, (h) words of any gender include each other gender, (i) words such as “herein,” “hereof’ and
“hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such words appear, G) the words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “but not limited to,” “without limitation,” “inter alia” or words of similar import, and (k) unless “Business Days” is specified, “days” shall mean “calendar days.” In the event
an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of
any of the provisions of this Agreement. 
 14.13     Business Day Requirements. In the event that any notice or
other action or omission is required to be taken by a Party under this Agreement on a day that is not a Business Day, then such notice or other action or omission shall be deemed to be required to be taken on the next occurring Business Day. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

									
	COMPANY:	  		  	FLAGSHIP:
			
	Omega Therapeutics, Inc.	  		  	Flagship Pioneering Innovations V, Inc.
					
	BY:	 	 /s/ David Berry
	  		  	BY:	 	 /s/ Noubar Afeyan

			
	NAME: David Berry	  		  	NAME: Noubar Afeyan
			
	TITLE: President	  		  	TITLE: President

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 Exhibit A 

Foundational IP 
 [***]

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(I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
  

 Exhibit B 

New IP 

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 Exhibit C 

Form of Bi-Annual Report 

[***] 
  

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 Exhibit D 

Payment Instructions 

[***]

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