Document:

EX-10.5

 Exhibit 10.5 

[CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT BOTH (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF
PUBLICLY DISCLOSED.] 
  
  

 
 TRANSITION SERVICES AGREEMENT

 by and between 

ADEIA INC. 
 and

 XPERI INC. 

Dated [•] 
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  

	
	DEFINITIONS	  

			
	 Section 1.1
	  	 Definitions
	  	 	1	 
	
	ARTICLE II	  

	
	TRANSITION SERVICES	  

			
	 Section 2.1
	  	 Transition Services
	  	 	4	 
	 Section 2.2
	  	 Service Provider Affiliates
	  	 	4	 
	 Section 2.3
	  	 Coordinators
	  	 	4	 
	 Section 2.4
	  	 Additional Services
	  	 	5	 
	 Section 2.5
	  	 Service Changes
	  	 	5	 
	 Section 2.6
	  	 Cooperation
	  	 	6	 
	 Section 2.7
	  	 Standard of Performance
	  	 	7	 
	 Section 2.8
	  	 Pass Through of Third-Party Terms
	  	 	7	 
	
	ARTICLE III	  

	
	LIMITATIONS	  

			
	 Section 3.1
	  	 General Limitations
	  	 	7	 
	 Section 3.2
	  	 Third-Party Limitations
	  	 	8	 
	 Section 3.3
	  	 Dependencies
	  	 	9	 
	 Section 3.4
	  	 Compliance Matters
	  	 	10	 
	 Section 3.5
	  	 Excluded Services
	  	 	10	 
	 Section 3.6
	  	 Force Majeure
	  	 	10	 
	
	ARTICLE IV	  

	
	PAYMENT	  

			
	 Section 4.1
	  	 Fees
	  	 	11	 
	 Section 4.2
	  	 Billing and Payment Terms
	  	 	11	 
	 Section 4.3
	  	 Disputed Invoices
	  	 	11	 
	 Section 4.4
	  	 Taxes
	  	 	12	 
	 Section 4.5
	  	 No Offset
	  	 	12	 

  
 i 

							
	ARTICLE V	  

	
	ACCESS TO NETWORKS AND PREMISES;	  

	DATA PRIVACY AND DATA SECURITY	  

			
	 Section 5.1
	  	 Access to Networks
	  	 	13	 
	 Section 5.2
	  	Access to Premises	  	 	13	 
	 Section 5.3
	  	Data Privacy and Data Security	  	 	13	 
	
	ARTICLE VI	  

	
	CONFIDENTIALITY	  

			
	 Section 6.1
	  	 Confidential Information
	  	 	13	 
	 Section 6.2
	  	Disclosure in Compliance With Law	  	 	13	 
	 Section 6.3
	  	Unauthorized Disclosures	  	 	13	 
	 Section 6.4
	  	Injunctive Relief	  	 	14	 
	
	ARTICLE VII	  

	
	DATA AND INTELLECTUAL PROPERTY	  

			
	 Section 7.1
	  	 Ownership of Data and Intellectual Property
	  	 	14	 
	
	ARTICLE VIII	  

	
	INDEMNIFICATION	  

			
	 Section 8.1
	  	 Indemnification by Service Recipient
	  	 	15	 
	 Section 8.2
	  	Indemnification by Service Provider	  	 	15	 
	 Section 8.3
	  	Indemnification Procedures	  	 	15	 
	
	ARTICLE IX	  

	
	WARRANTIES, DISCLAIMER AND LIMITATION OF LIABILITY	  

			
	 Section 9.1
	  	 Disclaimer of Warranties
	  	 	15	 
	 Section 9.2
	  	Limitation of Liability	  	 	16	 
	
	ARTICLE X	  

	
	TERM AND TERMINATION	  

			
	 Section 10.1
	  	 Term of Agreement and Services
	  	 	16	 
	 Section 10.2
	  	Termination	  	 	16	 
	 Section 10.3
	  	Effect of Termination	  	 	18	 

  
 ii 

							
	ARTICLE XI	  

	
	MISCELLANEOUS	  

			
	 Section 11.1
	  	 Interpretation
	  	 	18	 
	 Section 11.2
	  	 SDA Provisions
	  	 	19	 
	 Section 11.3
	  	 Notices
	  	 	20	 
	 Section 11.4
	  	 Third Party Beneficiaries
	  	 	20	 
	 Section 11.5
	  	 Governing Law
	  	 	20	 
	 Section 11.6
	  	 No Joint Venture or Partnership
	  	 	20	 

  

			
	SCHEDULES	  	
		
	 Schedule 2.1
	  	 Services

		
	 Schedule 2.3
	  	 Service Coordinators

		
	 Schedule 2.4
	  	 Additional Services Request Form

  

  
 iii 

 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT (this “Agreement”), dated as of [•], (the “Effective Date”),
by and between Adeia Inc., a Delaware corporation (“Service Recipient”), and Xperi Inc., a Delaware corporation (“Service Provider”). Each of Service Recipient and Service Provider is sometimes referred to herein as
a “Party” and collectively, as the “Parties.” 
 WHEREAS, Service Recipient and Service Provider,
acting through their respective direct and indirect Subsidiaries, currently conduct (i) the IP Business and (ii) the Product Business, respectively; 

WHEREAS, Service Recipient and Service Provider have entered into a Separation and Distribution Agreement, dated as of [•]
(“Separation and Distribution Agreement”), pursuant to which the Parties separated into two separate, publicly traded companies; 

WHEREAS, the Parties have executed various Ancillary Agreements, of even date herewith, pursuant to the Separation and Distribution
Agreement to facilitate and provide for an ordinary transition in connection with the consummation of the transactions contemplated by the Separation and Distribution Agreement, and to facilitate the ongoing operations of the Product Business and IP
Business; 
 WHEREAS, the Separation and Distribution Agreement and [certain of] the Ancillary Agreements contemplate that the
Parties execute a Transition Services Agreement to provide a binding framework for the provisions of transition services to the Service Recipient Group by the Service Provider Group; and 

WHEREAS, this Agreement sets forth the terms and conditions for the provision of transition services. 

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Separation
and Distribution Agreement. Unless the context clearly requires otherwise, the following terms shall have the following meanings: 

“Additional Service” has the meaning set forth in Section 2.4. 

“Agreement” has the meaning set forth in the preamble. 

“Change Order” has the meaning set forth in Section 2.5(a). 

  
 1 

 “Confidential Information” means any information that is treated as
confidential by a Party, including technology, trade secrets, know-how, business operations, plans, strategies, customers, research, software, developments, inventions, processes, formulas, technology,
designs, drawings, engineering, hardware configuration, marketing, finances, pricing and information. The terms of this Agreement, including its fee and expense structure, are Confidential Information of both Parties. Notwithstanding the foregoing,
“Confidential Information” shall not include information that: (a) is already known to the Receiving Party without restriction on use or disclosure prior to receipt of such information from the Disclosing Party; (b) is or becomes
generally known by the public other than by breach of this Agreement by, or other wrongful act of, the Receiving Party; (c) is developed by the Receiving Party independently of, and without reference to, any Confidential Information of the
Disclosing Party; or (d) is received by the Receiving Party from a third party who is not under any obligation to the Disclosing Party to maintain the confidentiality of such information. 

“Consent” means any permission, consent, agreement, waiver of any termination right or authorization required from a third
party (including any Governmental Entity) for the provision of any Service by Service Provider, or for the receipt of any Service by Service Recipient. 

“Covered Action” has the meaning set forth in Section 8.1. 

“Data Sharing Agreement” shall mean the Data Sharing Agreement, by and between Service Recipient and Service Provider, dated
as of even date herewith. 
 “Dependent Services” has the meaning set forth in Section 2.5(b).

 “Disclosing Party” has the meaning set forth in Section 6.1. 

“Effective Date” has the meaning set forth in the preamble. 

“Fees” has the meaning set forth in Section 4.1. 

“Force Majeure Event” has the meaning set forth in Section 3.6(a). 

“Indemnifying Party” has the meaning set forth in Section 8.3. 

“Indemnitees” has the meaning set forth in Section 8.2. 

“Losses” means all losses, damages, liabilities, deficiencies, actions, judgments, interest, awards, penalties, fines, costs
or expenses of whatever kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers. 

  
 2 

 “Parties” has the meaning set forth in the preamble. 

“Party” has the meaning set forth in the preamble. 

“Permitted Subcontractor” has the meaning set forth in Section 3.2(f). 

“Personnel” shall mean, with respect to any Party, the employees, officers, agents, independent contractors and consultants
of such Party, and, with respect to Service Provider, (a) Service Provider Affiliates and (b) any third parties engaged by a Service Provider Party to provide a Service. 

“Receiving Party” has the meaning set forth in Section 6.1. 

“Service Provider” has the meaning set forth in the preamble. 

“Services” has the meaning set forth in Section 2.1. 

“Service Change” means a change to all or any part of a Service in accordance with a Change Order. 

“Service Coordinator” has the meaning set forth in Section 2.3(a). 

“Service Provider Affiliates” shall mean Service Provider’s Affiliates providing Services under this Agreement. 

“Service Provider Group” shall mean Service Provider and each Person that is a direct or indirect Subsidiary of Service
Provider. 
 “Service Provider Indemnitees” has the meaning set forth in Section 8.1. 

“Service Provider Parties” shall mean Service Provider and Service Provider Affiliates. 

“Service Recipient” has the meaning set forth in the preamble. 

“Service Recipient Group” shall mean Service Recipient and each Person that is a direct or indirect Subsidiary of Service
Recipient. 
 “Service Recipient Indemnitees” has the meaning set forth in Section 8.2. 

“Service Schedules” means Schedule 2.1. 

  
 3 

 “Term” has the meaning set forth in Section 10.1.

 “Terminated Service” has the meaning set forth in Section 10.2(b). 

“Terminating Party” has the meaning set forth in Section 10.2(a). 

“Transition” means all of the matters under this Agreement, including the establishment of certain vendor Contracts by
Service Recipient to replace certain of the Services provided hereunder. 
 ARTICLE II 

TRANSITION SERVICES 

Section 2.1 Transition Services. Subject to the terms and conditions of this Agreement, Service Provider shall provide (or cause
to be provided) to Service Recipient Group all of the services listed in Schedule 2.1 attached hereto (as such Schedule may be amended pursuant to Section 2.4, the “Services”).

 Section 2.2 Service Provider Affiliates. Service Provider may, in its sole discretion, engage, or cause a Service Provider
Affiliate to engage, one or more Persons (including third parties or Affiliates of Service Provider) to provide some or all of the Services, subject to the terms set forth herein. 

Section 2.3 Coordinators. 

(a) The Parties shall each nominate a representative to act as the primary contact person or group with respect to all aspects of the
Services, (each, a “Service Coordinator”). Unless otherwise agreed upon by the Parties, all communications relating to this Agreement and to the Services provided hereunder shall be directed to the Service Coordinators. The initial
Service Coordinators for the Parties, including relevant contact information, are set forth on Schedule 2.3. Either Party may replace its Service Coordinator with an individual or group of comparable qualifications and
experience at any time by providing notice in accordance with Section 11.3. Each Party may treat the actions of the other Party’s Service Coordinator as having been authorized by such other Party without further
inquiry as to whether such Service Coordinator had authority to so act. 
 (b) At least monthly during the Term (or at such other frequency
as the Parties may agree or when this Agreement otherwise requires), the Service Coordinators shall meet (in person or via telephone or videoconference) for the purposes of: 

(i) considering any issues arising out of the performance of the Services; 

  
 4 

 (ii) discussing the current status of any Service Changes; 

(iii) discussing the status of the Transition; and 

(iv) considering any other issues arising under or in connection with this Agreement. 

Section 2.4 Additional Services. If Service Recipient desires to receive any service that is not part of the Services set forth on
the applicable Service Schedules and is not a service that the Parties specifically agreed not to include on such schedule, Service Recipient’s Service Coordinator shall contact Service Provider’s Service Coordinator, and provide a written
request (based on the form of Service Schedule attached hereto as Schedule 2.4 or another form as may be mutually agreed to by the Parties) describing such additional service, which Service Provider shall consider in good
faith (each such service, to the extent mutually agreed by the Parties, an “Additional Service”). Notwithstanding the foregoing, Service Provider shall be under no obligation to accept a request for Additional Services and may
reject or accept such request in its sole discretion. If Service Provider accepts a request for Additional Services, subject to obtaining any Consents necessary from any third parties including Governmental Entities (which Consents will be sought by
Service Provider in accordance with Section 3.2(c)), the Parties shall in good faith negotiate the scope and terms thereof, including additional payment due Service Provider for such services, and the Parties shall execute
an amendment hereto incorporating such terms. Service Provider shall not be under any obligation to provide any Additional Services unless and until the Parties execute an amendment hereto providing for such Additional Services. If agreed, any such
Additional Service shall be added to the applicable Service Schedules in accordance with Section 2.5. 

Section 2.5 Service Changes. 

(a) If either Party wishes to change the scope or performance of the Services, it shall submit the requested change to the other Party in
writing with reasonable detail depending on the scope and complexity of the requested change. Service Provider shall, within a reasonable time after such request (and, if such request is initiated by Service Recipient, not more than [***] Business
Days after receipt of Service Recipient’s written request, unless Service Provider notifies Service Recipient that an extension will be required due to the nature and complexity of the request), provide a written estimate to Service Recipient
of: (i) the likely time required to implement the change; (ii) any necessary variations to the Fees and other charges for the Services arising from the change; (iii) the likely effect of the change on the Services, including any known
Dependent Services; and (iv) any other impact the change might have on the performance of this Agreement. Promptly after receipt of the written estimate, the Parties shall negotiate and agree in writing on the terms of such change (a
“Change Order”). Neither Party shall be bound by any Change Order unless mutually agreed in writing. 
 (b) The Parties
acknowledge that any Service Change may result in Service Provider Parties being unable to continue the provision of all or a portion of a Service subject to the Service Change or a related Service (any such affected Services, the “Dependent
Services”). If a Service Change that would result in Dependent Services was requested by Service Recipient, Service Provider shall notify Service Recipient within [***] Business Days, and Service Recipient shall have [***] Business Days
from receipt of such notice to confirm in writing to Service Provider that it still wishes to request the applicable Service Change. If Service Recipient does not provide such confirmation, Service Recipient’s original request for a Service
Change shall be deemed withdrawn and will not result in any change an existing Service. 

  
 5 

 (c) The
out-of-pocket expenses (but not internal costs) actually incurred by Service Provider relating to any Service Change shall be borne by (i) Service Provider for
requests made by Service Provider and (ii) Service Recipient for requests made by Service Recipient. Each Party shall bear its own internal costs relating to any Service Change requested by either Party. Any Service Change shall be subject to,
if applicable, any necessary Consent under any relevant Contracts with third parties, which Consents shall be sought in accordance with Section 3.2(c). Any Service Change shall automatically be deemed to amend the relevant
Services on the applicable Service Schedule. 
 Section 2.6 Cooperation. 

(a) Each Party shall cooperate reasonably with the other Party in all matters relating to the provision and receipt of the Services so as to
minimize the expense, distraction and disturbance in connection with such Services, and shall perform all obligations hereunder in good faith and in accordance with principles of fair dealing. With respect to Service Recipient, such cooperation
shall include (i) the execution and delivery of such further instruments or documents as may be reasonably requested by Service Provider to enable the full performance of each Party’s obligations hereunder; (ii) notifying Service
Provider in advance of any changes to a Party’s operating environment or Personnel (including changes with respect to employee status) to the extent relevant to the applicable Services and working with Service Provider to effect such changes
with the least interruption; and (iii) notifying Service Provider in advance of Service Recipient’s migration and integration of such Service and consequent termination of the applicable Service. 

(b) Service Recipient will use commercially reasonable efforts to provide information and documentation sufficient for Service Provider
Parties to perform the Services in the manner they were provided by Service Recipient (including to itself or its Affiliates) in the ordinary course prior to the Effective Date (where applicable), and will use commercially reasonable efforts to make
available, as reasonably requested by Service Provider, sufficient resources and timely decisions, approvals and acceptances in order that Service Provider may perform its obligations under this Agreement in a timely and efficient manner. 

(c) Service Recipient shall follow, and shall cause its Affiliates to follow (and Service Provider shall cause its third-party service
providers to follow), the policies, procedures and practices followed by Service Provider Parties with respect to the Services consistent with the policies, procedures and practices that were in effect prior to the Effective Date, and any additional
policies, procedures or practices, or changes thereto, reasonably necessary or advisable. 
 (d) If Service Recipient fails to act in
accordance with this Section 2.6, Service Provider Parties shall notify Service Recipient. If such failure actually prevents Service Provider Parties, or any third party engaged by Service Provider Parties, from providing a
Service hereunder, Service Provider Parties shall not be in breach of this Agreement for failing to provide the applicable Service until such time as Service Recipient’s failure to comply with this Section 2.6 has been
cured. 

  
 6 

 (e) Each Party shall, upon the reasonable request, and at the sole cost and expense of the
other Party, execute such documents and perform such acts as may be reasonably necessary to give full effect to the terms of this Agreement. 

Section 2.7 Standard of Performance. Service Provider shall, and shall cause all Service Provider Parties to, use commercially
reasonable efforts to perform the Services with the same degree of care, skill and prudence customarily exercised by it for its provision of such services to itself and its Affiliates. 

Section 2.8 Pass Through of Third-Party Terms. Service Provider will use commercially reasonable efforts to provide to Service
Recipient the full benefit of all covenants, representations, warranties and indemnities granted to Service Provider by third parties in connection with any Services by either (a) providing them directly to Service Recipient as part of this
Agreement or (b) enforcing them against the third party and providing the benefits of that enforcement to Service Recipient. 

ARTICLE III 

LIMITATIONS 

Section 3.1 General Limitations. 

(a) Subject to Section 3.5, Service Provider may freely select the Persons, equipment, and Software that it will use
to provide the Services; provided that Service Provider shall remain responsible for the performance of the Services in accordance with this Agreement, subject to Section 3.2 below. 

(b) Service Recipient expressly acknowledges that, except for the right to receive the Services provided by Service Provider Parties as agreed
herein, Service Recipient has no right to receive any services from Service Provider or its Affiliates. 
 (c) Except as otherwise provided
in this Agreement, each of Service Provider and Service Recipient shall bear its own costs of providing or receiving the Services. 
 (d)
Without limiting Service Provider’s obligation to provide or cause to be provided the Services in accordance with this Agreement, Service Recipient acknowledges and agrees that Service Provider Parties shall provide the Services in the methods
and manners determined in Service Provider Parties’ sole discretion, including any and all decisions regarding: (i) hiring or engaging any additional employees or contractors; (ii) maintaining the employment or engagement of any
specific employee or contractor; (iii) purchasing, leasing or licensing any additional equipment, hardware or IT Assets; (iv) paying any costs related to the transfer or conversion of data from Service Provider Parties or any alternate
supplier of Services; or (v) upgrading or maintaining any equipment, hardware or IT Assets. 

  
 7 

 Section 3.2 Third-Party Limitations. 

(a) Service Recipient acknowledges and agrees that the Services provided by Service Provider through third parties or using third-party
Intellectual Property are subject to the terms and conditions of any applicable Contracts between Service Provider and such third parties. Service Recipient shall comply, and shall cause its Affiliates to comply, with the terms of such Contracts to
the extent they are relevant to the receipt of the Services and to the extent that such terms are known to Service Recipient or its Personnel. 

(b) Service Provider shall be entitled to exclusively manage its relationships with third parties. 

(c) Service Provider Parties shall be responsible for the acts, omissions, defaults or insolvency of any third party engaged to provide
Services. In the event that a third party that has been engaged to provide such Services fails to provide the Services in accordance with this Agreement, Service Provider Parties shall use commercially reasonable efforts to assert any rights that
Service Provider Parties may have under the applicable Contracts with such third party. If the foregoing does not result in the restoration of the applicable Services, the applicable Service Provider Parties shall use commercially reasonable efforts
to obtain a reasonable alternative arrangement to provide the relevant Services sufficient for the purposes of Service Recipient; provided that if no reasonable alternative arrangement is available, Service Provider Parties shall not
be required to provide the affected Services. All costs associated with the foregoing shall be borne by Service Recipient; provided that if Service Provider or any of its Affiliates also receives services from such alternative service
provider, Service Recipient shall only pay its pro rata share of the costs associated with obtaining such alternative service provider. 

(d) Service Provider shall use commercially reasonable efforts to obtain any necessary Consent from third parties in order to provide the
Services. If any such Consent is not obtained, Service Provider Parties shall use commercially reasonable efforts to obtain a reasonable alternative arrangement to provide the relevant Services sufficient for the purposes of Service Recipient;
provided that if no reasonable alternative arrangement is available, Service Provider Parties shall not be required to provide the affected Services. All costs associated with the foregoing Consents and reasonable alternatives related
to Service Changes requested by Service Provider shall be borne by Service Provider. All costs associated with the foregoing Consents and reasonable alternatives related to the Services or any Service Changes requested by Service Recipient shall be
borne by Service Recipient. The Parties shall, at the other Party’s request, provide commercially reasonable assistance in obtaining the foregoing Consents and reasonable alternatives. 

(e) Service Recipient shall not discuss with any third party the provision of the Services, except as permitted under
Article VI and with third parties being considered to provide services similar to the Services after the Term (provided that such third parties shall be informed of the confidential nature of the information
and shall be bound in writing to maintain its confidentiality). 

  
 8 

 (f) Service Provider will not subcontract its obligations under this Agreement to a third
party (including an Affiliate) if the third party will (i) have, process or otherwise have access to Service Recipient’s Confidential Information or Service Recipient’s information systems; (ii) provide a material component of
any Service; (iii) provide a service, feature or functionality that is customer-facing or public-facing; or (iv) use any Trademark of any Service Recipient, without first complying with vendor diligence and other risk management processes
and procedures at least as stringent as Service Provider would undertake in the ordinary course of business for onboarding vendors or other service providers to perform the same or similar types of services for Service Provider or its Affiliates
(each such subcontractor or other third party, a “Permitted Subcontractor”). Service Provider shall remain fully responsible for the performance of each such Permitted Subcontractor and its employees and for their compliance with all of
the terms and conditions of this Agreement as if they were Service Provider’s own employees. At Service Recipient’s written request, Service Provider shall use commercially reasonable efforts to (x) cause such Permitted Subcontractor
to submit during regular business hours to an audit or examination by Service Recipient or any Governmental Entities having jurisdiction over Service Recipient and (y) terminate or suspend Service Provider’s future use of such
subcontractor in connection this Agreement. Nothing contained in this Agreement shall create any contractual relationship between Service Recipient and any Service Provider subcontractor or supplier. 

Section 3.3 Dependencies. Notwithstanding anything to the contrary in this Agreement, Service Recipient acknowledges that some of
the Services require instructions, data, information and access from Service Recipient or third parties, or are dependent in whole or in part on completion of prior acts by Service Recipient or third parties, each of which Service Recipient shall
provide (or cause to be provided) to Service Provider or otherwise complete (or cause to be completed), in each case in a form and at such time as is reasonably requested by Service Provider; provided that Service Provider shall use
its commercially reasonable efforts to limit the foregoing to those that were required to perform equivalent services for Service Provider prior to the Effective Date. If Service Recipient or any third party fails to provide any such instructions,
data, information or access, or fails to perform a prerequisite act, and Service Provider is prevented in whole or in part from providing any Services as a result of such failure, then Service Provider shall so notify Service Recipient and, if such
failure by Service Recipient or such third party remains uncured, Service Provider shall not be liable for failing to perform the applicable Services to the extent caused by Service Recipient’s or such third party’s failure. 

  
 9 

 Section 3.4 Compliance Matters. 

(a) Notwithstanding any other provision of this Agreement, Service Provider (i) shall have the right to perform any action that, in its
reasonable opinion, is necessary to comply with applicable Law or any policy or procedure of any Service Provider Party that is designed to respond to a requirement of Law, to a new legal or regulatory issue, or to a security threat and
(ii) shall not be required to perform or cause to be performed any Service (or portion thereof) or other obligation in connection with this Agreement that conflicts with or violates any applicable Law or any policy or procedure of any Service
Provider Party that is designed to respond to a requirement of Law, to a new legal or regulatory issue or to a security threat. 
 (b) In
connection with this Agreement, Service Provider and its Affiliates and Service Recipient and its Affiliates shall comply, and shall ensure that they and their respective representatives and Permitted Subcontractors comply, with any applicable Laws
and any applicable policy or procedure of any Service Provider Party (including data encryption policies and procedures established by a Service Provider Party) that have been provided to Service Recipient. 

Section 3.5 Excluded Services. Notwithstanding anything to the contrary set forth herein and subject to Section 2.5, the
Transition Services shall only include those specific services set forth on Schedule 2.1. 
 Section 3.6 Force Majeure.

 (a) No Party shall be liable or responsible to the other Party, nor be deemed to have defaulted under or breached this Agreement, for any
failure or delay in fulfilling or performing any provision of this Agreement, when and to the extent such failure or delay is caused by or results from acts beyond the affected Party’s reasonable control, including: (i) acts of God;
(ii) flood, fire or explosion; (iii) war, invasion, riot or other civil unrest; (iv) actions, embargoes or blockades in effect on or after the Effective Date; (v) national or regional emergency; or (vi) epidemic or pandemic
(each of the foregoing, a “Force Majeure Event”). A Party whose performance is affected by a Force Majeure Event shall give notice to the other Party, stating the period of time the occurrence is expected to continue and shall use
diligent efforts to end the failure or delay and minimize the effects of such Force Majeure Event. 
 (b) During the Force Majeure Event,
the non-affected Party may similarly suspend its performance obligations until such time as the affected Party resumes performance. 

  
 10 

 (c) The non-affected Party may terminate this
Agreement if such failure or delay continues for a period of [***] days or more and, if the non-affected Party is Service Recipient, receive a refund of any amounts paid to Service Provider in advance for the
affected Services. 
 ARTICLE IV 

PAYMENT 

Section 4.1 Fees. In consideration of the provision of the Services by Service Provider and the rights granted to Service
Recipient under this Agreement, Service Recipient shall pay fees equal to the actual out-of-pocket and internal costs of Services rendered actually incurred by Service
Provider [***]; provided that any Vendor Services (as defined in Schedule 2.1) that are provided to Service Recipient shall be charged to Service Recipient on a pass-through basis without any such markup [***] (“Fees”).
Payment to Service Provider of such Fees and the reimbursement of pre-approved expenses pursuant to this Article IV shall constitute payment in full for the performance of the
Services, and Service Recipient shall not be responsible for paying any other fees, costs or expenses.  
 Section 4.2
Billing and Payment Terms. 
 (a) Service Provider shall invoice Service Recipient monthly (such invoice to set forth a description
of the Services provided) for all Services that Service Provider delivered during the preceding month, denominated in U.S. Dollars. Each such invoice shall be payable within [***] days after Service Recipient’s receipt of the invoice and
payment of such invoices shall be made by Service Recipient to Service Provider in U.S. Dollars. Any Service for which the foregoing process does not apply shall be invoiced by the Service Provider Party providing such Service to Service Recipient
in accordance with a mutually agreed timetable and in U.S. Dollars, and shall be paid by Service Recipient in accordance with such mutually agreed timetable and in U.S. Dollars. 

(b) If any undisputed invoice or undisputed line item of an invoice is not paid in full within [***] days after Service Recipient’s
receipt of the invoice pursuant to Section 11.3, interest shall accrue on the unpaid amount at a rate of [***] percent [***] per month or the highest rate permitted by applicable law, whichever is less, from the date such
amount is due until finally paid. Late fees are without any prejudice to, or modification of, any other remedies that Service Provider may have. 

(c) The Parties acknowledge that there may be a lag in the submission of charges from third parties relating to the provision of Services, and
that the Service Provider Parties shall use commercially reasonable efforts to obtain such third party invoices, and to provide the same to Service Recipient, in a timely fashion. 

Section 4.3 Disputed Invoices. If Service Recipient, acting in good faith, disputes the accuracy of all or part of any invoice,
Service Recipient shall notify the applicable Service Provider Party of such dispute within [***] Business Days of receipt of the invoice in question, including the specific line item subject to dispute and the reasons for the dispute. 

  
 11 

 Section 4.4 Taxes. 

(a) Except as expressly noted therein, the amounts set forth on the Service Schedules as the applicable consideration with respect to each
Service do not include any Taxes, duties, imposts, charges, fees or other levies of whatever nature assessed on the provision of the Services. All Taxes, duties, imposts, charges, fees or other levies imposed by applicable Law assessed on the
provision of the Services (other than income taxes or franchise taxes payable by Service Provider on the Fees received hereunder) shall be the responsibility of Service Recipient in addition to the Fees payable by Service Recipient in accordance
with Section 4.2. Service Recipient shall promptly reimburse Service Provider for any Taxes, duties, imposts, charges, fees or other levies (other than income taxes or franchise taxes payable by Service Provider on the Fees
received hereunder) imposed on Service Provider or which Service Provider shall have any obligation to collect with respect to or relating to this Agreement or the performance by Service Provider of its obligations hereunder, along with interest and
penalties related thereto to the extent such interest or penalties are related to the actions or inactions of Service Recipient. Such reimbursement shall be in addition to the amounts required to be paid as set forth on the applicable Service
Schedule and shall be made in accordance with this Article IV. Service Recipient agrees to use reasonable efforts to provide exemption certificates where available and to calculate any applicable sales and use Taxes and to make payment
thereof directly to the appropriate taxing authority. 
 (b) All payments by Service Recipient under this Agreement shall be made without set-off and without any deduction or withholding for any Taxes, duties, imposts, charges or fees or other levies, unless the obligation to make such deduction or withholding is imposed by Law. In the event that
applicable Law requires that an amount in respect of any Taxes, duties, imposts, charges, fees or other levies be withheld from any payment by Service Recipient to Service Provider under this Agreement, the amount payable to Service Provider shall
be increased as necessary so that, after Service Recipient has withheld amounts required by applicable Law, Service Provider receives an amount equal to the amount it would have received had no such withholding been required, and Service Recipient
shall withhold such Taxes, duties, imposts, charges, fees or other levies and pay such withheld amounts over to the applicable governmental authority in accordance with the requirements of the applicable Law and provide Service Provider with a
receipt confirming such payment. Service Provider shall reasonably cooperate with Service Recipient to determine whether any such deduction or withholding applies to the payments hereunder, and if so, shall further reasonably cooperate to minimize
applicable deduction or withholding. 
 Section 4.5 No Offset. Except as mutually agreed by the Parties, in no event shall
Service Recipient offset any amounts due hereunder for its receipt of Services by amounts owed to Service Recipient by Service Provider Parties under this Agreement. 

  
 12 

 ARTICLE V 

ACCESS TO NETWORKS AND PREMISES; 

DATA PRIVACY AND DATA SECURITY 

Section 5.1 Access to Networks. Each Party and its Affiliates may provide the other Party and its Affiliates with
access to such Party’s IT Assets via a secure method selected by such Party, as further described in the Data Sharing Agreement. 

Section 5.2 Access to Premises. Each Party shall ensure that when entering or within the other Party’s premises, all such
Party’s Personnel (including Permitted Subcontractors) must establish their identity to the satisfaction of security personnel and comply with all directions given by them, including directions to display any identification cards provided by
such other Party or to vacate the premises of such other Party. 
 Section 5.3 Data Privacy and Data Security. During the Term,
the terms of the Data Sharing Agreement shall apply with respect to the Parties’ compliance with data privacy and data security Laws and obligations. 

ARTICLE VI 

CONFIDENTIALITY 

Section 6.1 Confidential Information. The Receiving Party agrees: (a) not to disclose or otherwise make available the
Confidential Information of the Disclosing Party to any third party without the prior written consent of the Disclosing Party; provided, however, that the Receiving Party may disclose the Confidential Information
of the Disclosing Party to its Affiliates, and their officers, employees and legal advisors who have a “need to know,” who have been apprised of this restriction and who are themselves bound by nondisclosure obligations at least as
restrictive as those set forth in this Section 6.1; (b) to use the Confidential Information of the Disclosing Party only for the purposes of performing its obligations under this Agreement or to make use of the Services;
and (c) to promptly notify the Disclosing Party in the event it becomes aware of any loss or disclosure of any of the Confidential Information of Disclosing Party, with the Party disclosing such information or materials, the “Disclosing
Party,” and the Party receiving such information or materials, the “Receiving Party.” 
 Section 6.2
Disclosure in Compliance With Law. If the Receiving Party becomes legally compelled to disclose any Confidential Information, the Receiving Party shall provide: (a) prompt written notice of such requirements so that the Disclosing Party
may seek, at its sole cost and expense, a protective order or other remedy; and (b) reasonable assistance, at the Disclosing Party’s sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on
disclosure. If, after providing such notice and assistance as required herein, the Receiving Party remains required by Law to disclose any Confidential Information, the Receiving Party shall disclose no more than that portion of the Confidential
Information which the Receiving Party is legally required to disclose. 
 Section 6.3 Unauthorized Disclosures. The Receiving
Party shall immediately inform the Disclosing Party in the event that it becomes aware of the possession, use or knowledge of any of the Confidential Information by any Person not authorized to possess, use or have knowledge of the Confidential
Information and shall, at the request of the Disclosing Party, provide such reasonable assistance as is required by the Disclosing Party to mitigate any damage caused thereby. 

  
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 Section 6.4 Injunctive Relief. Each Party acknowledges that a breach by a Party
of this Article VI may cause the non-breaching Party irreparable damages, for which an award of damages would not be adequate compensation and agrees that, in the event
of such breach or threatened breach, the non-breaching Party will be entitled to seek equitable relief, including a restraining order, injunctive relief, specific performance and any other relief that may be
available from any court, in addition to any other remedy to which the non-breaching Party may be entitled at law or in equity. Such remedies shall not be deemed to be exclusive, but shall be in addition to
all other remedies available at law or in equity, subject to any express exclusions or limitations in this Agreement to the contrary. 

ARTICLE VII 

DATA AND INTELLECTUAL PROPERTY 

Section 7.1 Ownership of Data and Intellectual Property. 

(a) Each Party retains the ownership and title to any and all of its data an Intellectual Property as of the Effective Date. This Agreement is
not intended to, and shall not, transfer or license any Intellectual Property from one Party to the other, except for the limited license rights as expressly set forth in in Section 7.1(c) and
Section 7.1(d). 
 (b) All Intellectual Property created or developed by Service Recipient in connection herewith
shall be owned by Service Recipient. Except as otherwise mutually agreed by the Parties, any Intellectual Property created or developed by or on behalf of Service Provider Parties in connection herewith shall be owned by Service Provider. 

(c) Service Provider hereby grants to Service Recipient and to its Personnel, a non-exclusive, limited
license and right, during the Term, under the Intellectual Property (other than Trademarks) of Service Provider or its Affiliates, to use the embodiments of Intellectual Property provided by Service Provider to Service Recipient hereunder solely to
the extent necessary for the receipt, access and use of the Services. Notwithstanding the foregoing, Service Provider shall grant a license to Service Recipient and its Personnel beyond the Term on reasonable terms and conditions pursuant to a
Change Order. 
 (d) Service Recipient hereby grants to Service Provider, any Service Provider Affiliate or third party providing Services,
and each of their Personnel, a non-exclusive, limited license and right, during the Term, under the Intellectual Property (other than Trademarks) of Service Recipient and its Affiliates, to use the embodiments
of Intellectual Property provided by Service Recipient to Service Provider hereunder, solely to the extent necessary for the provision of the Services. 

(e) For the avoidance of doubt, nothing herein shall be construed as a license, assignment, or grant of any rights to either Party’s
Trademarks, and Service Recipient will not use Service Provider’s or its Affiliates’ Trademark, or otherwise identify Service Provider Parties in advertising, publicity or otherwise, in each case without obtaining Service Provider’s
prior written consent. 

  
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 ARTICLE VIII 

INDEMNIFICATION 

Section 8.1 Indemnification by Service Recipient. Service Recipient shall defend, indemnify and hold harmless Service
Provider Parties and any of their Personnel, successors and permitted assigns (collectively, the “Service Provider Indemnitees”), from and against all Losses arising out of or resulting from any third-party claim, suit, action or
proceeding (each, a “Covered Action”), to the extent arising out of or resulting from: (a) Service Recipient’s material breach of any of its obligations under this Agreement or (b) the subject matter of this
Agreement, including the use of (or inability to use) the Services, except to the extent resulting from or arising out of Service Provider’s (i) gross negligence or willful misconduct or (ii) material breach of any of its obligations
under this Agreement. 
 Section 8.2 Indemnification by Service Provider. Service Provider shall defend, indemnify and hold
harmless Service Recipient, its Affiliates and its and their Personnel, successors and permitted assigns (collectively, the “Service Recipient Indemnitees”; and, together with Service Provider Indemnitees, the
“Indemnitees”), from and against any and all Losses arising out of or resulting from any third-party Covered Action, to the extent arising out of or resulting from Service Provider’s (i) gross negligence or willful
misconduct or (ii) material breach of any of its obligations under this Agreement. 
 Section 8.3 Indemnification
Procedures. In seeking indemnification hereunder, an Indemnitee shall promptly notify the Party providing indemnification (the “Indemnifying Party”) in writing of any Covered Action and cooperate with the Indemnifying
Party, at the Indemnifying Party’s sole cost and expense. The Indemnifying Party shall immediately take control of the defense and investigation of such Covered Action and shall employ counsel of its choice to handle and defend the same, at the
Indemnifying Party’s sole cost and expense. The Indemnifying Party shall not settle any Covered Action in a manner that adversely affects the rights of an Indemnitee without such Indemnitee’s prior written consent, which shall not be
unreasonably withheld or delayed. An Indemnitee’s failure to perform any obligations under this Section 8.3 shall not relieve the Indemnifying Party of its obligations under this Section 8.3,
except to the extent that the Indemnifying Party can demonstrate that it has been materially prejudiced as a result of such failure. The applicable Indemnitee may participate in and observe the proceedings at its own cost and expense. Subject to
Section 9.1, the rights and remedies of the Parties under this Agreement (including pursuant to Section 8.1 and Section 8.2) are cumulative and are not exclusive of any
rights or remedies which they would otherwise have hereunder or at law or in equity for any breach of this Agreement. 
 ARTICLE IX

 WARRANTIES, DISCLAIMER AND LIMITATION OF LIABILITY 

Section 9.1 Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, SERVICE PROVIDER HEREBY DISCLAIMS ALL
WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICES, OR OTHER OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR OR SPECIFIC PURPOSE, DATA ACCURACY, QUIET ENJOYMENT AND NON-INFRINGEMENT. 

  
 15 

 Section 9.2 Limitation of Liability. 

(a) THE SERVICE PROVIDER PARTIES SHALL HAVE NO LIABILITY TO SERVICE RECIPIENT OR ANY THIRD PARTY FOR ANY DAMAGES (AS DEFINED HEREIN) ARISING
IN ANY MANNER OUT OF OR IN CONNECTION WITH THIS AGREEMENT, ITS PERFORMANCE OR BREACH HEREOF, OR INCIDENT TO SERVICE RECIPIENT’S OR ANY THIRD PARTY’S USE OF (OR ANY INABILITY TO USE) THE SERVICES OR ANY OTHER INFORMATION OR MATERIALS
PROVIDED TO SERVICE RECIPIENT HEREUNDER, WHETHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL (INCLUDING LOSS OF DATA, LOSS OF USE, CLAIMS OF THIRD PARTIES OR LOST PROFITS OR REVENUES OR OTHER ECONOMIC LOSS BY SERVICE RECIPIENT OR ANY
THIRD PARTY), WHETHER IN TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY), CONTRACT OR OTHERWISE, AND WHETHER OR NOT THE SERVICE PROVIDER PARTIES HAVE BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH DAMAGES. 

(b) IN NO EVENT WILL THE SERVICE PROVIDER PARTIES BE LIABLE HEREUNDER FOR AN AGGREGATE AMOUNT IN EXCESS OF THE FEES PAID, ACCRUED OR PAYABLE
PURSUANT TO THIS AGREEMENT IN THE [***] PRIOR TO THE DATE OF THE APPLICABLE CLAIM; PROVIDED, THAT IF [***] HAVE NOT ELAPSED SINCE THE EFFECTIVE DATE, SUCH TOTAL AGGREGATE LIABILITY WILL NOT EXCEED [***] OF THE AVERAGE MONTHLY FEES PAID
FOR THE ELAPSED PERIOD OF THE TERM. THE FOREGOING LIMITATION SHALL NOT APPLY TO DAMAGES RESULTING FROM A PARTY’S FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 

ARTICLE X 
 TERM
AND TERMINATION 
 Section 10.1 Term of Agreement and Services. Except as otherwise expressly set forth in this
Agreement, this Agreement shall become effective on the Effective Date and shall remain in force for a period of [***] months following the Effective Date. Not less than [***] days prior to the expiration date of this Agreement, the Parties shall
confer to determine in good faith whether the term of this Agreement or any Services hereunder should be extended for any period (such initial period and any extension thereof, collectively, the “Term”). 

Section 10.2 Termination. 

(a) Termination by Either Party. This Agreement or any Service provided hereunder, as applicable, may be terminated by either Party
(such Party, the “Terminating Party”) upon written notice to the other Party, if: 
 (i) the other Party
fails to perform or otherwise breaches a material provision of this Agreement and such failure or breach is not cured, to the reasonable satisfaction of the Terminating Party, within [***] days of written notice thereof; 

  
 16 

 (ii) the other Party fails to perform or otherwise breaches a material
provision of this Agreement, where such failure or breach is substantially similar to a prior failure or breach by such other Party, unless, within [***] days of written notice of such subsequent failure or breach, such other Party has
(x) cured such subsequent failure or breach to the reasonable satisfaction of such Party (if such failure or breach is subject to cure) and (y) demonstrated, to such Party’s sole satisfaction, that such other Party has enacted
remedial measures designed to prevent the failure or breach from occurring again; 
 (iii) the other Party makes a general
assignment for the benefit of creditors or becomes insolvent, or a receiver is appointed for, or a court approves reorganization or arrangement proceedings on, such Party; 

(iv) Service Provider Parties are prevented from performing this Agreement or any particular Service provided hereunder for a
period of at least [***] days by reason of the occurrence of any Force Majeure Event; provided that this Agreement may only be terminated under this Section 10.2(a)(iv) with respect to the affected Service; or

 (v) required by any Governmental Entity, upon [***] days’ notice or sooner if necessary; provided that,
in such circumstances, the Parties shall use commercially reasonable efforts to identify a reasonable alternative arrangement to provide the relevant Services sufficient for the purposes of Service Recipient. The applicable Party prevented by such
regulatory action shall bear the reasonable additional costs and expenses of the other Party arising as a result of such regulatory action. 

(b) Partial Termination by Service Recipient. Service Recipient may, on [***] days’ prior written notice to Service Provider,
terminate in whole or in part any Service (to the extent terminated, a “Terminated Service”). Any such termination notice shall include all other Services that are dependent upon the Terminated Services (e.g., a request to terminate
network services shall also include the termination of email services). Service Provider shall, within [***] days of receipt of Service Recipient’s written termination notice, notify in writing Service Recipient of (i) any affected
Dependent Services of the Terminated Service that were not included in Service Recipient’s written termination notice and (ii) any Additional Services that Service Provider may require as a result of the termination of such Terminated
Service. Service Recipient shall, within [***] days of receipt of Service Provider’s written notice, confirm to Service Provider in writing the termination of the Service and any and all Dependent Services listed in Service Provider’s
written notice; provided that if Service Recipient does not so confirm within the foregoing period, Service Recipient shall be deemed to have confirmed the termination of the Services and any and all Dependent Services listed in
Service Provider’s written notice. Any such Terminated Service shall be deleted from Schedule 2.1 (as applicable) and Service Provider Parties shall have no further obligation to provide, and Service Recipient
shall have no obligation to continue to use or pay for, any such Terminated Service. Any termination notice delivered by Service Recipient shall specify in detail the Services to be terminated, and the effective date of such termination. Upon
receipt of a written notice of termination of a Service, Service Provider Parties shall: (x) cease providing the applicable Terminated Service as of the termination date set forth in the notice; and (y) only invoice Service Recipient for
(i) its use of the applicable Terminated Service prior to the effective date of termination and (ii) any irrecoverable costs borne by the Service Provider in expectation of providing the applicable Terminated Service beyond such effective
date of termination; provided that if Service Recipient actually uses the applicable Terminated Service following the effective date of termination, Service Provider Parties shall invoice Service Recipient for such use, and Service
Recipient shall pay such invoice in accordance with this Agreement. 

  
 17 

 Section 10.3 Effect of Termination. In the event that this Agreement is
terminated for any reason: 
 (a) Service Provider shall (i) provide reasonable cooperation and assistance to Service Recipient upon
Service Recipient’s written request and at Service Recipient’s expense in transitioning the Services to an alternate Service Provider and (ii) on a pro rata basis, repay all Fees and expenses paid in advance for any Services
which have not been provided. Service Recipient will pay Service Provider for the Services that have been properly performed through the date of termination. 

(b) Subject to the terms of the Data Sharing Agreement, each Party shall (i) return to the other Party all documents and tangible
materials (and any copies) containing, reflecting, incorporating or based on the other Party’s Confidential Information, (ii) permanently erase all of the other Party’s Confidential Information from its computer systems and
(iii) at the other Party’s request, certify in writing to the other Party that it has complied with the requirements of this clause; provided, however, that Service Recipient may retain copies of any Confidential Information
of Service Provider to the extent necessary to allow it to make full use of the Services. 
 (c) In no event shall Service Recipient be
liable for any Service Provider Personnel termination costs arising from the expiration or termination of this Agreement. 
 (d) The rights
and obligations of the Parties set forth in Section 1.1, Article IV, Article VI, Article VII, Article VIII,
Article IX, this Section 10.3, and Article XI will survive any such termination or expiration of this Agreement. 

ARTICLE XI 

MISCELLANEOUS 

Section 11.1 Interpretation. 

(a) For purposes of this Agreement, (i) the words “include,” “includes” and “including” shall be deemed to
be followed by the words “without limitation”; (ii) the word “or” is not exclusive; and (iii) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this
Agreement as a whole. 

  
 18 

 (b) This Agreement shall be construed without regard to any presumption or rule requiring
construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. 
 (c) Any capitalized term
used in any Schedule but not otherwise defined therein will have the meaning given to such term in this Agreement. 
 (d) When a reference
is made to an Article, Section or Schedule, such reference shall be to an Article, Section or Schedule of this Agreement unless otherwise indicated. 

(e) Unless the context requires otherwise, words using the singular or plural number also include the plural or singular number, respectively,
the use of any gender herein shall be deemed to include the other genders and references to a Person are also to its permitted successors and assigns. 

(f) References to “Dollars” or “$” are to U.S. dollars. 

(g) References to “U.S.” are to the United States of America, including its territories and possessions. 

(h) References to any Law shall be deemed to refer to such Law as amended from time to time and to any rules or regulations promulgated
thereunder. 
 (i) Any reference to “days” means calendar days unless Business Days are expressly specified. 

(j) When calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this
Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is a non-Business Day, the period in question shall end on the next succeeding
Business Day. 
 Section 11.2 SDA Provisions. The following provisions of the Separation and Distribution Agreement are hereby
incorporated by reference mutatis mutandis: Article IX (Dispute Resolution), Section 11.1 (Complete Agreement; Construction), Section 11.2 (Ancillary Agreements), Section 11.3 (Counterparts),
Section 11.7 (Waivers), Section 11.8 (Amendments), Section 11.9 (Assignment), Section 11.10 (Successors and Assigns), Section 11.13 (Subsidiaries), Section 11.15 (Title and
Headings), Section 11.18 (Specific Performance), Section 11.19 (Severability), and Section 11.20 (No Duplication; No Double Recovery). 

  
 19 

 Section 11.3 Notices. All notices and other communications to be given to either
Party under this Agreement shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or [***] days after being mailed by certified or registered mail, return receipt requested,
with appropriate postage prepaid, or electronically mailed (with a response confirming receipt), and shall be directed to the address set forth below (or at such other address for a Party as shall be specified in a notice given in accordance with
this Section 11.3): 
 To Service Recipient: 

[•] 
 with a copy (which
shall not constitute notice) to: 
 [•] 

To Service Provider: 
 [•]

 with a copy (which shall not constitute notice) to: 

[•] 
 Section 11.4
Third Party Beneficiaries. Except (i) as provided in Article VIII relating to Indemnitees, this Agreement is solely for the benefit of, and is only enforceable by, the Parties and their permitted successors and assigns and
should not be deemed to confer upon third parties any remedy, benefit, claim, liability, reimbursement, cause of Action or other right of any nature whatsoever, including any rights of employment for any specified period, in excess of those existing
without reference to this Agreement. 
 Section 11.5 Governing Law. This Agreement and any dispute arising out of, in connection
with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof. 

Section 11.6 No Joint Venture or Partnership. The relationship between the Parties is that of independent contractors. Nothing
contained in this Agreement shall be construed as creating any agency, partnership, joint venture or other form of joint enterprise, employment or fiduciary relationship between the Parties, and neither Party shall have authority to contract for or
bind the other Party in any manner whatsoever. 
 [Remainder of page intentionally left blank] 

  
 20 

 IN WITNESS WHEREOF, the Parties have caused this Transition Services Agreement to be
duly authorized, executed and delivered, as of the Effective Date. 
  

			
	Adeia Inc.
		
	By:	 	 
		 	Name:
		 	Title:
	
	Xperi Inc.
		
	By:	 	 
		 	Name:
		 	Title:

  
 21Document

SEER, INC.
CONSULTANT AGREEMENT

This Consultant Agreement (“Agreement”) is entered into as of September 30, 2022 (the “Effective Date”) between Seer, Inc., a Delaware corporation with its principal place of business at 3800 Bridge Parkway, Suite 102, Redwood City, CA 94065 (“Company”) and Omead Ostadan, an individual (“Consultant”). Consultant has unique skills and knowledge pertinent to the Company’s business and Company desires to retain Consultant as consultant under the terms of this Agreement.

NOW, THEREFORE, Consultant and Company agree as follows:

1.SERVICES AND COMPENSATION

(1) Consultant agrees to perform the consulting, advisory and related services to the Company, which shall include, but not be limited to, those services described in addenda attached to this Agreement from time to time (each, an “Addendum”) and other consulting and advisory services as the Company may reasonably request from time to time (collectively, the “Services”). Each Addendum shall describe in reasonable detail the Services to be provided, the fee to be paid for performance of the Services, and the time during which the Services shall be provided. Each such Addendum shall be deemed to be incorporated into this Agreement.

(2)As consideration for the performance of Services by the Consultant hereunder, the Company shall compensate the Consultant as specified in the applicable Addendum.  Consultant shall submit invoices as set forth in the applicable Addendum.  Company shall pay undisputed invoices within thirty (30) days of receipt of invoice.

2.CONFIDENTIALITY

(1)“Confidential Information” means any confidential or proprietary information technical or non-technical data, trade secrets or know-how, including, but not limited to, research and product plans, products, services, markets, developments, inventions, processes, formulas, technology, marketing, or other business or financial information disclosed to Consultant by Company either directly or indirectly in writing, orally or otherwise. Confidential Information also includes all Inventions (as defined below) and any other  information or materials generated in connection with the Services.
    
(2)Consultant shall not, during or subsequent to the term of this Agreement, use, disclose or duplicate any Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of Company, or disclose Confidential Information to any third party. Consultant agrees that Confidential Information shall remain the sole property of Company. Consultant further agrees to take all reasonable precautions to prevent any unauthorized access, disclosure or use of Confidential Information. Notwithstanding the above, Consultant’s obligation under this Section 2(b) relating to Confidential Information shall not apply to information which (i) is known to Consultant at the time of disclosure to Consultant by Company as evidenced by written records of Consultant, (ii) has become publicly known and made generally available through no wrongful act of Consultant, or (iii) has been rightfully received by Consultant from a third party authorized to make such disclosure.

(3)Consultant agrees that Consultant shall not, during the term of this Agreement, improperly use or disclose to Company any confidential or proprietary information or trade secrets of any former or current employer or other person or entity to which Consultant has a duty to keep in confidence such information and that Consultant shall not bring onto the premises of Company any unpublished document or confidential or proprietary information belonging to such employer, person or entity unless consented to in writing by the same. Consultant shall indemnify Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in connection with any violation or claimed violation by Company of such third party’s rights resulting in whole or in part from Company’s use of the work product of Consultant under this Agreement.

Page 1 of 6

(4)Consultant recognizes that Company has received, and in the future shall receive from third parties, their confidential or proprietary information subject to a duty on Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. Consultant agrees that Consultant owes Company and such third parties, during the term of this Agreement and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out the Services for Company consistent with Company’s agreement with such third party.

(5)Upon the termination of this Agreement, or upon Company’s earlier request, Consultant shall deliver to Company all Confidential Information and Company’s property relating thereto and all tangible   embodiments thereof, in Consultant’s possession or control.

3.OWNERSHIP

(1)Consultant hereby irrevocably assigns to Company all right, title and interest in and to any information (including, without limitation, business plans and/or business information), technology, know-how, materials, notes, records, designs, ideas, inventions, improvements, devices, developments, discoveries, compositions, trade secrets, processes, methods and/or techniques, whether or not patentable or copyrightable, that are conceived, reduced to practice or made by Consultant alone or jointly with others in the course of performing the Services or through the use of Confidential Information (collectively, “Inventions”).

(2)Consultant agrees to sign, execute and acknowledge or cause to be signed, executed and acknowledged without cost, but at the expense of Company, any and all documents and to perform such acts as may be necessary, useful or convenient for the purposes of perfecting the foregoing assignments and obtaining, enforcing and defending intellectual property rights in any and all countries with respect to Inventions. It is understood and agreed that Company or Company’s designee shall have the sole right, but not the obligation, to prepare, file, prosecute and maintain patent applications and patents worldwide with respect to Inventions.

(3)Upon the termination of this Agreement, or upon Company’s earlier requests, Consultant shall deliver to Company all property relating to, and all tangible embodiments of, Inventions in Consultant’s possession or control.

(4)Consultant agrees that if, in the course of performing the Services, Consultant incorporates into any Invention developed hereunder any invention, improvement, development concept, discovery or other proprietary subject matter owned by Consultant or in which Consultant has an interest (“Item”), Consultant shall inform Company in writing thereof, and Company is hereby granted and shall have a non- exclusive, royalty-free, perpetual, irrevocable, worldwide license to make, have made, modify, reproduce, display, use and sell such Item as part of or in connection with the exploitation of such Invention.

(5)Consultant agrees that if Company is unable because of Consultant’s unavailability, mental or physical incapacity, or for any other reason, to secure Consultant’s signature to apply for or to pursue any application or registration for any intellectual property rights covering any Invention, then Consultant hereby irrevocably designates and appoints Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact, to act for and in Consultant’s behalf to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of such intellectual property rights thereon with the same legal force and effect as if executed by Consultant.

4.REPORTS. Consultant agrees, from time to time during the term of this Agreement, to keep Company advised as to Consultant’s progress in performing the Services and, as reasonably requested by Company, prepare written reports with respect thereto. It is understood that the time required in the preparation of such written reports shall be considered time devoted to the performance of the Services by Consultant. All such reports prepared by Consultant shall be the sole property of Company.

5.REMEDIES. Consultant acknowledges that his/her breach of the provisions related to Inventions and Confidential Information shall result in material injury to Company. Consultant agrees that, in 
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addition to any other remedy available, Company shall be entitled to specific performance o and other temporary and permanent injunctive relief without the necessity of proving actual damages.

6.TERM AND TERMINATION

(1)This Agreement shall commence on the Effective Date and remain in effect for 12 months from the Effective Date, and shall renew automatically on the anniversary of the Effective Date in 12-month successive periods unless earlier terminated in accordance with Section 6(b) herein below. 

(2)Either Consultant or Company may terminate this Agreement upon thirty (30) days prior written notice thereof to    the other party to which the effective date of termination shall be that 30th day after the date of such written notice. 

(3)Upon termination of this Agreement, all rights and duties of the parties hereunder shall cease except:

(a)Company shall be obliged to pay, within thirty (30) days after receipt of Consultant’s final statement, all amounts owing to Consultant for unpaid Services completed by Consultant and related expenses, if any, in accordance with the provisions of Section 1 hereof, and

(b)Sections 2, 3, 5, 6(c), 7, 8, 9, 10, 12 and 13 shall survive termination of this Agreement.

7.INDEPENDENT CONTRACTOR.   Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee or representative of Company, but Consultant shall perform the Services as an independent contractor. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement.

8.PERSONAL DATA PROTECTION. Consultant acknowledges that Company, its employees and agents exclusively may use and process his/her personal data (consisting of your name, professional title, professional telephone number and professional address) for administrative, statistical, informational purposes, and in accordance with applicable laws and regulations.  You have the right to inspect, adjust and correct the personal data, as well as the right to raise objection against any processing of the data in accordance with applicable law.

Consultant acknowledges and agrees that Company may have disclosure and reporting obligations pursuant to federal and state law, including, without limitation, the disclosure of any and all amounts payable under this Agreement, and Consultant acknowledges that Company may make such disclosures without prior notice to Consultant.

9.COMPLIANCE WITH LAW. 

(1)Consultant also represents and warrants that he/she has not been debarred by the FDA or excluded from participating in federal health care programs and is not currently under investigation for any action that could lead to debarment or exclusion, has not been convicted or indicted for a crime, and is not otherwise engaged in conduct for which Consultant could be debarred or excluded. Consultant shall promptly notify Company in writing immediately upon receiving notice of debarment or exclusion or of any such investigation, which may be grounds for termination of this Agreement.  

(2)The parties agree to comply with applicable laws and regulations to the extent relating to the information and the business relationship contemplated hereby, including but not limited to, laws, rules, and regulations governing the purchase and sale of securities while in the possession of material, non-public information.

10.ARBITRATION AND EQUITABLE RELIEF. Company and Consultant agree that any dispute or controversy arising out of, in relation to, or in connection with this Agreement, or the making, interpretation, construction, performance or breach hereof, shall be finally settled by binding arbitration in           San Mateo County, California under the then current rules and procedures of the Judicial Arbitration and Mediation Service (JAMS) by one (1) arbitrator appointed in accordance with such rules.  The arbitrator 
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shall determine what discovery shall be permitted, consistent with the goal of limiting the cost and time; provided the arbitrator shall permit such discovery as the arbitrator deems necessary to permit an equitable resolution of the dispute and may grant injunctive or other relief in such dispute or controversy. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court of competent jurisdiction. The parties agree that, any provision of applicable law notwithstanding, they shall not request and the arbitrator shall have no authority to award, punitive or exemplary damages against either party. The costs of the arbitration, including administrative and arbitrator’s fees, shall be shared equally by the parties. Each party shall bear the cost of its own attorneys’ fees and expert witness fees. Any award may be entered in a court of competent jurisdiction for a judicial recognition of the decision and applicable orders of enforcement.

11.CONFLICTING OBLIGATIONS. Consultant hereby certifies that he/she has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement, or that would preclude Consultant from complying with the provisions hereof, and further certifies that Consultant shall not enter into any such conflicting agreement during the term of this Agreement. Subject to written waivers that may be provided by the Company upon request, which shall not be unreasonably withheld, Consultant agrees that, during the term of this Agreement, Consultant shall not directly or indirectly (i) provide any services in the Field of Interest (as defined in any Addenda) to any other business or commercial entity, (ii) provide any services for any company that is competitive with the Company and shall provide a list of other companies for whom Consultant is providing services (“Outside Companies”), or (iii) participate in the formation of any business or commercial entity in the Field of Interest or otherwise competitive with the Company.  Consultant hereby agrees to update the list and any Addendum relative to subsection (ii) above as applicable. Without limiting the foregoing, Consultant agrees to use his or her best efforts (A) to segregate Consultant’s Services performed under this Agreement from Consultant’s work done for the Outside Companies so as to minimize any questions of disclosure of, or rights under, any inventions, (B) to notify the President of the Company if at any time the Consultant believes that such questions may result from his or her performance under this Agreement and (C) to assist the Company in fairly resolving any questions in this regard which may arise. The Services performed hereunder shall not be conducted on time that is required to be devoted to any other third party. The Consultant shall not use the funding, resources and facilities of any other third party, without the prior written consent of such third party and the Company, to perform Services hereunder and shall not perform    the Services hereunder in any manner that would give any third party rights or access to the Services or the product of such Services. 

12.LIMITATION OF LIABILITY. IN NO EVENT SHALL THE COMPANY BE LIABLE TO CONSULTANT OR TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS OR LOSS OF BUSINESS, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHER THEORY OF LIABILITY, REGARDLESS OF WHETHER THE COMPANY WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND IN NO EVENT SHALL THE COMPANY’S LIABILITY ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT EXCEED THE AMOUNTS PAID BY THE COMPANY TO CONSULTANT UNDER THIS AGREEMENT IN THE PRECEDING TWELVE MONTHS.

13.GENERAL. This Agreement (together with any Addenda) is the entire agreement and understanding between Company and Consultant concerning the subject matter hereof, and it supersedes all prior agreements and understandings with respect to such subject matter.   Any required notice shall be given in writing by customary means at the address of each party set forth above, or to such other address as either party may substitute by written notice to the other.  Any notice by email to Company must be sent to notices@seer.bio, which such email notice(s) shall be deemed given when verified by automated receipt or electronic logs. Consultant shall not subcontract any portion of Consultant’s duties under this Agreement without the prior written consent of Company. Neither this Agreement nor any right hereunder or interest herein may be assigned or transferred by Consultant without the express written consent of Company. Company may assign this Agreement to an entity that succeeds to substantially all of the business or assets of Company. This Agreement shall be governed by the laws of the State of California, without reference to it conflicts of  law principles. This Agreement may only be amended or modified by a writing signed by both parties. Waiver of any term or provision of this Agreement or forbearance to 
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enforce any term or provision by either party shall not constitute a waiver as to any subsequent breach or failure of the same term or provision or a waiver of any other term or provision of this Agreement. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision, provided that no such severability shall be effective if it materially changes the economic benefit of this Agreement to either  Company or Consultant.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.
OMEAD OSTADAN        SEER, INC.

By:     /s/ Omead Ostadan                                            By:     /s/ Omid Farokhzad                               
            Name:  Omid Farokhzad, M.D.
            Title: Chief Executive Officer, Chair of Board
Date: August 25, 2022                                                Date: August 25, 2022                                     

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ADDENDUM 1
TO 
 CONSULTANT AGREEMENT

This Addendum 1 (“Addendum 1”) is dated and entered into on September 30, 2022 (“Addendum 1 Effective Date”) and is issued in accordance with Section 1 of the  Consultant Agreement (“Agreement”) executed by and between Seer, Inc. (“Company”) and Omead Ostadan (“Consultant”) on September 30, 2022.  Upon approval and signature by the parties, this Addendum 1 and all attachments attached hereto shall become part of the Agreement between Company and Consultant and shall be subject to the Agreement’s terms and conditions.  All capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in this Agreement.
1.Services. Consultant shall render to Company the following Services:
•Provide transition and consultant services to Company regarding matters relating to the Company’s business (the “Field of Interest”);
•Collaborate and provide advice and assistance to Company as is mutually agreed by the parties.

2.Compensation.
•Up to 10 hours per month at a rate of $1,000 per hour.   

3.    Miscellaneous: All terms and conditions set forth in the Agreement are hereby incorporated into this Addendum 1 as if set forth in full herein.  If any terms in this Addendum 1 conflicts with the terms of the Agreement, the terms of the Agreement shall govern. This Addendum 1 may be executed in any number of counterparts and signatures exchanged by PDF (or other electronic format), each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  
 
IN WITNESS WHEREOF, the parties hereto have caused this Addendum 1 to be executed as of the Addendum 1 Effective Date.

CONSULTANT                                                                                             

By:        /s/ Omead Ostadan                     
Name:     Omead Ostadan
Date:     August 25, 2022                             

SEER, INC.
By:        /s/ Omid Farokhzad                    
Name:     Omid Farokhzad
Title:    Chief Executive Officer 
Date:     August 25, 2022                             

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