Document:

EX-10.3

 Exhibit 10.3 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of March 4, 2016 by and among Argos
Therapeutics, Inc., a Delaware corporation (the “Company”), and the “Investors” named in that certain Securities Purchase Agreement by and among the Company and the Investors (the “Purchase Agreement”).
Capitalized terms used herein have the respective meanings ascribed thereto in the Purchase Agreement unless otherwise defined herein. 

The parties hereby agree as follows: 

1. Certain Definitions. 

As used in this Agreement, the following terms shall have the following meanings: 

“Investors” means the Investors identified in the Purchase Agreement and any Affiliate or permitted transferee of any
Investor who is a subsequent holder of Registrable Securities. 
 “Prospectus” means (i) the prospectus included in
any Registration Statement, as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by all other amendments and
supplements to the prospectus, including post-effective amendments and all material incorporated by reference in such prospectus, and (ii) any “free writing prospectus” as defined in Rule 405 under the 1933 Act. 

“Register,” “registered” and “registration” refer to a registration made by preparing and
filing a Registration Statement or similar document in compliance with the 1933 Act (as defined below), and the declaration or ordering of effectiveness of such Registration Statement or document. 

“Registrable Securities” means (i) the Shares, (ii) the Common Warrant Shares and (iii) any other securities
issued or issuable with respect to or in exchange for Registrable Securities, whether by merger, charter amendment or otherwise; provided, that, a security shall cease to be a Registrable Security upon (A) sale pursuant to a Registration
Statement or Rule 144 under the 1933 Act, or (B) such security becoming eligible for sale without restriction by the Investors pursuant to Rule 144 under the 1933 Act. 

“Registration Statement” means any registration statement of the Company under the 1933 Act that covers the resale of any of
the Registrable Securities pursuant to the provisions of this Agreement, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits and all material incorporated by reference in such Registration
Statement. 
 “SEC” means the U.S. Securities and Exchange Commission. 

 2. Registration. 

(a) Registration Statements. 

(i) Promptly following the Initial Closing Date but no later than sixty (60) days after the Initial Closing Date (the “Initial
Closing Filing Deadline”), the Company shall prepare and file with the SEC one Registration Statement covering all of the Registrable Securities issued at the Initial Closing or issuable upon exercise of securities issued at the Initial
Closing (the “Initial Closing Registrable Securities”). Subject to any SEC comments, such Registration Statement shall include the plan of distribution attached hereto as Exhibit A; provided, however, that no Investor
shall be named as an “underwriter” in such Registration Statement without the Investor’s prior written consent. Such Registration Statement also shall cover, to the extent allowable under the 1933 Act and the rules promulgated
thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Initial Closing Registrable Securities. Such Registration
Statement (and each amendment or supplement thereto) shall be provided in accordance with Section 3(c) to the Investors prior to its filing or other submission. If a Registration Statement covering the Initial Closing Registrable Securities is
not filed with the SEC on or prior to the Initial Closing Filing Deadline, the Company will make payments to each Investor that participated in the Initial Closing, as liquidated damages and not as a penalty, in an amount equal to 1% of the
aggregate purchase price paid by such Investor for the Initial Closing Registrable Securities issued in the Initial Closing for each 30-day period or pro rata for any portion thereof following the Initial Closing Filing Deadline for which no
Registration Statement is filed with respect to the Initial Closing Registrable Securities. Such payments shall constitute the Investors’ exclusive monetary remedy for such events, but shall not affect the right of the Investors to seek
injunctive relief. Such payments shall be made to each Investor in cash no later than three (3) Business Days after the end of each 30-day period (the “Payment Date”). Interest shall accrue at the rate of 1% per month on
any such liquidated damages payments that shall not be paid by the applicable Payment Date until such amount is paid in full. 
 (ii)
Promptly following the Second Closing Date but no later than thirty (30) days after the Second Closing Date (the “Second Closing Filing Deadline”), the Company shall prepare and file with the SEC one Registration Statement
covering all of securities issued at the Second Closing or issuable upon exercise of securities issued at the Second Closing (the “Second Closing Registrable Securities”). Subject to any SEC comments, such Registration Statement
shall include the plan of distribution attached hereto as Exhibit A; provided, however, that no Investor shall be named as an “underwriter” in such Registration Statement without the Investor’s prior written consent. Such
Registration Statement also shall cover, to the extent allowable under the 1933 Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock
dividends or similar transactions with respect to the Second Closing Registrable Securities. Such Registration Statement (and each amendment or supplement thereto) shall be provided in accordance with Section 3(c) to the Investors prior to its
filing or other submission. If a Registration Statement covering the Second Closing Registrable Securities is not filed with the SEC on or prior to the Second Closing Filing Deadline, the Company will make payments to each Investor that participated
in the Second Closing, as 

 
liquidated damages and not as a penalty, in an amount equal to 1% of the aggregate purchase price paid by such Investor for the Second Closing Registrable Securities issued in the Second Closing
for each 30-day period or pro rata for any portion thereof following the Second Closing Filing Deadline for which no Registration Statement is filed with respect to the Second Closing Registrable Securities. Such payments shall constitute the
Investors’ exclusive monetary remedy for such events, but shall not affect the right of the Investors to seek injunctive relief. Such payments shall be made to each Investor in cash no later than the applicable Payment Date. Interest shall
accrue at the rate of 1% per month on any such liquidated damages payments that shall not be paid by the applicable Payment Date until such amount is paid in full. 

(iii) Promptly following the Additional Closing Date, if any, but no later than thirty (30) days after the Additional Closing Date (the
“Additional Closing Filing Deadline” and, together with the Initial Closing Filing Deadline and Second Closing Filing Deadline, each a “Filing Deadline”), the Company shall prepare and file with the SEC one
Registration Statement covering all of the Registrable Securities issued at the Additional Closing (the “Additional Closing Registrable Securities”). Subject to any SEC comments, such Registration Statement shall include the plan of
distribution attached hereto as Exhibit A; provided, however, that no Investor shall be named as an “underwriter” in such Registration Statement without the Investor’s prior written consent. Such Registration Statement
also shall cover, to the extent allowable under the 1933 Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar
transactions with respect to the Additional Closing Registrable Securities. Such Registration Statement (and each amendment or supplement thereto) shall be provided in accordance with Section 3(c) to the Investors prior to its filing or other
submission. If a Registration Statement covering the Additional Closing Registrable Securities is not filed with the SEC on or prior to the Additional Closing Filing Deadline, the Company will make payments to PHS as liquidated damages and not as a
penalty, in an amount equal to 1% of the aggregate purchase price paid by PHS for the Additional Closing Registrable Securities issued in the Additional Closing for each 30-day period or pro rata for any portion thereof following the Additional
Closing Filing Deadline for which no Registration Statement is filed with respect to the Additional Closing Registrable Securities. Such payments shall constitute PHS’s exclusive monetary remedy for such events, but shall not affect the right
of PHS to seek injunctive relief. Such payments shall be made to PHS in cash no later than the applicable Payment Date. Interest shall accrue at the rate of 1% per month on any such liquidated damages payments that shall not be paid by the
applicable Payment Date until such amount is paid in full. 
 (b) Notwithstanding the foregoing, in the event that the Second Closing or the
Additional Closing, as the case may be, occurs following the end of the Company’s fiscal year but prior to the filing of its Annual Report on Form 10-K for such fiscal year, the Registration Statements required to be filed following such
Closing pursuant to Sections 2(a)(ii) or 2(a)(iii) shall be filed in each case by the later of (i) thirty (30) days after such Closing, or (ii) five (5) Business Days after the date on which the Company is required to file its
Annual Report on Form 10-K for such fiscal year, and such later date shall be considered the Second Closing Filing Deadline or Additional Closing Filing Deadline, as applicable, for purposes of Sections 2(a)(ii) and 2(a)(iii), respectively. 

 (c) Expenses. The Company will pay all expenses associated with each registration,
including filing and printing fees, the Company’s counsel and accounting fees and expenses, costs associated with clearing the Registrable Securities for sale under applicable state securities laws, listing fees, and the legal expenses of the
Investors incurred in connection with the resale registration obligations of the Company subject in all cases to the limitation specified in Section 9.5 of the Purchase Agreement, but excluding discounts, commissions, fees of underwriters,
selling brokers, dealer managers or similar securities industry professionals with respect to the Registrable Securities being sold. 
 (d)
Effectiveness. 
 (i) The Company shall use best efforts to have each Registration Statement declared effective as soon as
practicable after the filing thereof. The Company shall respond promptly to any and all comments made by the staff of the SEC on each Registration Statement, and shall submit to the SEC, within two (2) Business Days after the Company learns
that no review of the Registration Statement will be made by the staff of the SEC or that the staff of the SEC has no further comments on such Registration Statement, as the case may be, a request for acceleration of the effectiveness of such
Registration Statement to a time and date not later than two (2) Business Days after the submission of such requests. The Company shall notify the Investors that purchased the Registrable Securities being registered by such Registration
Statement by facsimile or e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after such Registration Statement is declared effective and shall simultaneously provide such Investors with copies of any related
Prospectus to be used in connection with the sale or other disposition of the securities covered thereby. If (A) a Registration Statement covering the Registrable Securities is not declared effective by the SEC prior to the 60th day after the
applicable Filing Deadline or (B) after a Registration Statement has been declared effective by the SEC, if such Registration Statement is not available to cover any sales of Registrable Securities registered by such Registration Statement
including by reason of a stop order or the Company’s failure to update such Registration Statement, other than as a result of any Allowed Delay (as defined below), then the Company will make pro rata payments to each Investor then holding
Registrable Securities that were registered pursuant to such Registration Statement, as liquidated damages and not as a penalty, in an amount equal to 1% of the aggregate purchase price paid by such Investor for the Registrable Securities then held
by such Investor that were registered pursuant to such Registration Statement for each 30-day period or pro rata for any portion thereof following the date by which such Registration Statement should have been effective, with respect to
Section 2(d)(i)(A), or available to cover the sale of the Registrable Securities that were registered pursuant to such Registration Statement, with respect to Section 2(d)(i)(B) (in each case, the “Blackout Period”). Such
payments shall constitute the Investors’ exclusive monetary remedy for such events, but shall not affect the right of the Investors to seek injunctive relief. The amounts payable as liquidated damages pursuant to this paragraph shall be paid
monthly within three (3) Business Days of the last day of each month following the commencement of the Blackout Period until the termination of the Blackout Period (the “Blackout Period Payment Date”). Such payments shall be
made to each Investor in cash. Interest shall accrue at the rate of 1% per month on any such liquidated damages payments that shall not be paid by the Blackout Payment Date until such amount is paid in full. 

 (ii) For not more than thirty (30) consecutive days or for a total of not more than sixty
(60) days (which need not be consecutive) in any twelve (12) month period, the Company may suspend the use of any Prospectus included in any Registration Statement contemplated by this Section in the event that the Company determines in
good faith that such suspension is necessary to (A) delay the disclosure of material nonpublic information concerning the Company, the disclosure of which at the time is not, in the good faith opinion of the Company, in the best interests of
the Company or (B) amend or supplement the affected Registration Statement or the related Prospectus so that such Registration Statement or Prospectus shall not include an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in the case of the Prospectus in light of the circumstances under which they were made, not misleading (an “Allowed Delay”); provided, that the Company shall
promptly (a) notify each Investor then holding Registrable Securities that were registered pursuant to such Registration Statement in writing of the commencement of an Allowed Delay, but shall not (without the prior written consent of an
Investor) disclose to such Investor any material nonpublic information giving rise to an Allowed Delay, (b) advise the Investors then holding Registrable Securities that were registered pursuant to such Registration Statement in writing to
cease all sales under such Registration Statement until the end of the Allowed Delay and (c) use commercially reasonable efforts to terminate an Allowed Delay as promptly as practicable. 

(e) Rule 415; Cutback. If at any time the SEC takes the position that the offering of some or all of the Registrable Securities in
a Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the 1933 Act or requires any Investor to be named as an “underwriter,” the Company shall use its best efforts
to persuade the SEC that the offering contemplated by the Registration Statement is a valid secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Investors is an
“underwriter.” The Investors shall have the right to participate or have their counsel participate in any meetings or discussions with the SEC regarding the SEC’s position and to comment or have their counsel comment on any written
submission made to the SEC with respect thereto. No such written submission shall be made to the SEC to which the Investors’ counsel reasonably objects. In the event that, despite the Company’s best efforts and compliance with the terms of
this Section 2(e), the SEC refuses to alter its position, the Company shall (i) remove from the Registration Statement such portion of the Registrable Securities (the “Cut Back Shares”) and/or (ii) agree to such
restrictions and limitations on the registration and resale of the Registrable Securities as the SEC may require to assure the Company’s compliance with the requirements of Rule 415 (collectively, the “SEC Restrictions”);
provided, however, that the Company shall not agree to name any Investor as an “underwriter” in such Registration Statement without the prior written consent of such Investor. Any cut-back imposed on the Investors pursuant to this
Section 2(e) shall be allocated among the Investors on a pro rata basis and shall be applied first to any of the Registrable Securities of such Investor as such Investor shall designate, unless the SEC Restrictions otherwise require or provide
or the Investors otherwise agree. No liquidated damages shall accrue as to any Cut Back Shares until such date as the Company is able to effect the registration of such Cut Back Shares in accordance with any SEC Restrictions applicable to such Cut
Back Shares (such date, the “Restriction Termination Date”). From and after the Restriction Termination Date applicable to any Cut Back Shares, all of the provisions of this Section 2 (including the Company’s obligations
with respect to the filing of a Registration Statement and its obligations to use best efforts to have such Registration 

 
Statement declared effective within the time periods set forth herein and the liquidated damages provisions relating thereto) shall again be applicable to such Cut Back Shares; provided, however,
that the Filing Deadline for the Registration Statement including such Cut Back Shares shall be ten (10) Business Days after such Restriction Termination Date. 

(f) Other Registration Statements. Following each Closing, until the Registration Statement contemplated under this Agreement
registering the Registrable Securities issued at such Closing or issuable upon exercise of securities issued at such Closing has been declared effective, the Company will not register any Company securities for sale or resale other than pursuant to
such Registration Statement or pursuant to contractual agreements with Tianyi Lummy International Holdings Group Ltd. and China BioPharma Capital I, L.P. existing on the date hereof. 

3. Company Obligations. The Company will use best efforts to effect the registration of the Registrable Securities in accordance with
the terms hereof, and pursuant thereto the Company will, as expeditiously as possible: 
 (a) use best efforts to cause such Registration
Statement to become effective and to remain continuously effective for a period that will terminate upon the earlier of (i) the date on which all Registrable Securities covered by such Registration Statement as amended from time to time, have
been sold, and (ii) the date on which all Registrable Securities covered by such Registration Statement may be sold without restriction pursuant to Rule 144 (the “Effectiveness Period”) and advise the Investors promptly in
writing when the Effectiveness Period has expired; 
 (b) prepare and file with the SEC such amendments and post-effective amendments to
such Registration Statement and the related Prospectus as may be necessary to keep such Registration Statement effective for the Effectiveness Period and to comply with the provisions of the 1933 Act and the 1934 Act with respect to the distribution
of all of the Registrable Securities covered thereby; 
 (c) provide copies to and permit a single legal counsel designated by the Investors
to review each Registration Statement and all amendments and supplements in advance of their filing with the SEC and not file any document to which such counsel reasonably objects; provided that the Company shall have no obligation to delay the
filing of such Registration Statement, amendment or supplement if such legal counsel provides comments or objections to such Registration Statement, amendment or supplement less than two (2) Business Days prior to the filing of such
Registration Statement, amendment or supplement; 
 (d) furnish to the Investors and their legal counsel (i) immediately after the same
is prepared and publicly distributed, filed with the SEC, or received by the Company (but not later than one (1) Business Day after the filing date, receipt date or sending date, as the case may be) one (1) copy of any Registration
Statement and any amendment thereto, each preliminary prospectus and Prospectus and each amendment or supplement thereto, and each letter written by or on behalf of the Company to the SEC or the staff of the SEC, and each item of correspondence from
the SEC or the staff of the SEC, in each case relating to such Registration Statement (other than any portion of any thereof which contains information for 

 
which the Company has sought confidential treatment) and (ii) such number of copies of a Prospectus, including a preliminary prospectus, and all amendments and supplements thereto and such
other documents as each Investor may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Investor that are covered by the related Registration Statement; 

(e) use best efforts to (i) prevent the issuance of any stop order or other suspension of effectiveness and, (ii) if such order is
issued, obtain the withdrawal of any such order at the earliest possible moment and to notify the Investors of the issuance of such order and the resolution thereof; 

(f) use best efforts to register or qualify (unless an exemption from the registration or qualification exists) or cooperate with the
Investors and their counsel in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or blue sky laws of such domestic jurisdictions as are reasonably requested by the Investors and
do any and all other commercially reasonable acts or filings necessary or advisable to enable a distribution in such jurisdictions of the Registrable Securities covered by the Registration Statement; provided, however, that the Company shall not be
required in connection therewith or as a condition thereto to (i) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(f), (ii) subject itself to general taxation in any
jurisdiction where it would not otherwise be so subject but for this Section 3(f), or (iii) file a general consent to service of process in any such jurisdictions; 

(g) use best efforts to cause all Registrable Securities covered by a Registration Statement to be listed on each securities exchange,
interdealer quotation system or other market on which similar securities issued by the Company are then listed; 
 (h) immediately notify
the Investors, at any time prior to the end of the Effectiveness Period, upon discovery that, or upon the happening of any event as a result of which, the Prospectus includes an untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly prepare, file with the SEC and furnish to such holder a supplement to or an amendment of such
Prospectus as may be necessary so that such Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing; 
 (i) otherwise use best efforts to comply with all applicable rules and regulations of the SEC under the 1933
Act and the 1934 Act, including, without limitation, Rule 172 under the 1933 Act, file any final Prospectus, including any supplement or amendment thereof, with the SEC pursuant to Rule 424 under the 1933 Act, promptly inform the Investors
in writing if, at any time during the Effectiveness Period, the Company does not satisfy the conditions specified in Rule 172 and, as a result thereof, the Investors are required to deliver a Prospectus in connection with any disposition of
Registrable Securities and take such other actions as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder; and make available to its security holders, as soon as reasonably practicable, but not later
than the Availability Date (as defined below), an earnings statement covering a period of at 

 
least twelve (12) months, beginning after the effective date of each Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the 1933 Act,
including Rule 158 promulgated thereunder (for the purpose of this subsection 3(i), “Availability Date” means the 45th day following the end of the fourth full fiscal quarter following the effective date of such Registration
Statement, except that, if such fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means the 90th day after the end of such fourth fiscal quarter); and 

(j) with a view to making available to the Investors the benefits of Rule 144 (or its successor rule) and any other rule or regulation of
the SEC that may at any time permit the Investors to sell shares of Common Stock to the public without registration, the Company covenants and agrees to: (i) make and keep public information available, as those terms are understood and defined
in Rule 144, until the earlier of (A) six months after such date as all of the Registrable Securities may be sold without restriction by the holders thereof pursuant to Rule 144 or any other rule of similar effect or (B) such
date as all of the Registrable Securities shall have been resold; (ii) file with the SEC in a timely manner all reports and other documents required of the Company under the 1934 Act; and (iii) furnish to each Investor upon request, as
long as such Investor owns any Registrable Securities, (A) a written statement by the Company that it has complied with the reporting requirements of the 1934 Act, (B) a copy of the Company’s most recent Annual Report on Form 10-K or
Quarterly Report on Form 10-Q, and (C) such other information as may be reasonably requested in order to avail such Investor of any rule or regulation of the SEC that permits the selling of any such Registrable Securities without registration.

 4. Obligations of the Investors. 

(a) Each Investor shall furnish in writing to the Company such information regarding itself, the Registrable Securities held by it and the
intended method of disposition of the Registrable Securities held by it, as shall be reasonably required to effect the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company
may reasonably request. At least five (5) Business Days prior to the first anticipated filing date of any Registration Statement, the Company shall notify each Investor of the information the Company requires from such Investor if such Investor
is to have any of the Registrable Securities included in such Registration Statement. An Investor shall provide such information to the Company at least two (2) Business Days prior to the first anticipated filing date of such Registration
Statement if such Investor is to have any of the Registrable Securities included in such Registration Statement. If any Investor fails to provide to the Company the information required by this Section 4(a) by such date, the Company shall not
be obligated to include such Investor’s Registrable Securities in such Registration Statement and shall not be obligated to pay such Investor liquidated damages with respect to the lack of registration of such Registrable Securities under this
Agreement. 
 (b) Each Investor, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of a Registration Statement hereunder, unless such Investor has notified the Company in writing of its election to exclude all of its Registrable Securities from such
Registration Statement. 
 (c) Each Investor agrees that, upon receipt of any notice from the Company of either (i) the commencement of
an Allowed Delay pursuant to Section 2(d)(ii) or (ii) the happening of an event pursuant to Section 3(g) hereof, such Investor will immediately discontinue disposition of Registrable Securities pursuant to the Registration Statement
covering such Registrable Securities, until the Investor is advised by the Company that such dispositions may again be made. 

 5. Due Diligence Review; Information. 

The Company shall make available, during normal business hours, for inspection and review by the Investors and advisors and representatives of
the Investors (who may or may not be affiliated with the Investors and who are reasonably acceptable to the Company), all SEC Filings and other filings with the SEC, and all other corporate documents and properties of the Company as may be
reasonably necessary for the purpose of such review, for the sole purpose of enabling the Investors and such representatives, advisors and underwriters and their respective accountants and attorneys to conduct initial and ongoing due diligence with
respect to the accuracy of any Registration Statement; provided that the Company shall have no obligation to provide such information or documentation (i) that the Company reasonably determines in good faith to be a trade secret or highly
confidential information or (ii) to any such representative, advisor, underwriter, accountant or attorney unless and until such representative, advisor, underwriter, accountant or attorney has entered into a confidentiality agreement with the
Company on terms satisfactory to the Company with respect to such information and documentation. 
 6. Indemnification. 

(a) Indemnification by the Company. The Company will indemnify and hold harmless each Investor and its officers, directors, members,
employees and agents, successors and assigns, and each other person, if any, who controls, or is alleged to control, such Investor within the meaning of the 1933 Act, against any losses, claims, damages or liabilities, joint or several, to which
they may become subject under the 1933 Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement or omission or
alleged omission of any material fact contained in any Registration Statement, any preliminary Prospectus or final Prospectus, or any amendment or supplement thereof; (ii) any blue sky application or other document executed by the Company
specifically for that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or all of the Registrable Securities under the securities laws thereof (any such application,
document or information herein called a “Blue Sky Application”); (iii) the omission or alleged omission to state in a Blue Sky Application a material fact required to be stated therein or necessary to make the statements
therein not misleading; (iv) any violation by the Company or its agents of any rule or regulation promulgated under the 1933 Act applicable to the Company or its agents and relating to action or inaction required of the Company in connection
with such registration to the extent Registrable Securities of such Investor were registered thereunder; or (v) any failure to register or qualify the Registrable Securities included in any such Registration Statement in any state where the
Company or its agents has affirmatively undertaken or agreed in writing that the Company will undertake such registration or qualification on an Investor’s behalf 

 
pursuant to an Investor’s affirmative request under Section 3(f) hereof; and the Company will reimburse such Investor, and each such officer, director or member and each such
controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case
if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Investor or
any such controlling person in writing specifically for use in such Registration Statement or Prospectus, and provided further that the foregoing indemnity shall not apply to amounts paid in settlement of any loss, claim, damage, liability or
expense if such settlement is effected without the consent of the Company. 
 (b) Indemnification by the Investors. Each Investor who
is named in a Registration Statement as a selling stockholder agrees, severally but not jointly, to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors, officers, employees, stockholders and each person
who controls the Company (within the meaning of the 1933 Act) against any losses, claims, damages, liabilities and expense (including reasonable attorney fees) resulting from any untrue statement of a material fact or any omission of a material fact
required to be stated in the Registration Statement or Prospectus or preliminary Prospectus or amendment or supplement thereto or necessary to make the statements therein not misleading, to the extent, but only to the extent that such untrue
statement or omission is contained in any information furnished in writing by such Investor to the Company specifically for inclusion in such Registration Statement or Prospectus or amendment or supplement thereto; provided, however, that the
foregoing indemnity shall not apply to amounts paid in settlement of any loss, claim, damage, liability or expense if such settlement is effected without the consent of such Investor. In no event shall the liability of an Investor be greater in
amount than the dollar amount of the proceeds (net of all expense paid by such Investor in connection with any claim relating to this Section 6 and the amount of any damages such Investor has otherwise been required to pay by reason of such
untrue statement or omission) received by such Investor upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation. 

(c) Conduct of Indemnification Proceedings. Any person entitled to indemnification hereunder shall (i) give prompt notice to the
indemnifying party of any claim with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any person
entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless (a) the indemnifying
party has agreed to pay such fees or expenses, (b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person or (c) in the reasonable judgment of any such person,
based upon written advice of its counsel, a conflict of interest exists between such person and the indemnifying party with respect to such claims (in which case, if the person notifies the indemnifying party in writing that such person elects to
employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person); and provided, further, that the failure of any indemnified party to give
notice as provided herein shall not relieve the 

 
indemnifying party of its obligations hereunder, except to the extent that such failure to give notice shall materially adversely affect the indemnifying party in the defense of any such claim or
litigation. It is understood that the indemnifying party shall not, in connection with any proceeding in the same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any time for all such indemnified parties.
No indemnifying party will, except with the consent of the indemnified party, which shall not be unreasonably withheld or conditioned, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation. 

(d) Contribution. If for any reason the indemnification provided for in the preceding paragraphs (a) and (b) is unavailable
to an indemnified party or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or
liability in such proportion as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant equitable considerations. Relative fault shall be determined by reference to whether any
alleged untrue statement or omission relates to information provided by the Company or by a holder of Registrable Securities. No person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the 1933 Act shall be entitled
to contribution from any person not guilty of such fraudulent misrepresentation. In no event shall the contribution obligation of a holder of Registrable Securities be greater in amount than the dollar amount of the proceeds (net of all expenses
paid by such holder in connection with any claim relating to this Section 6 and the amount of any damages such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission)
received by it upon the sale of the Registrable Securities giving rise to such contribution obligation. 
 7. Miscellaneous. 

(a) Amendments and Waivers. This Agreement may be amended only by a writing signed by the Company and each of the Investors. The
Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company shall have obtained the written consent to such amendment, action or omission to act, of each of the Investors;
provided that in the event such action or omission to act relates solely to Additional Closing Registrable Securities, the Company shall be required only to obtain the written consent of PHS to such action or omission to act. 

(b) Notices. All notices and other communications provided for or permitted hereunder shall be made as set forth in Section 9.4 of
the Purchase Agreement. 
 (c) Assignments and Transfers by Investors. The provisions of this Agreement shall be binding upon and
inure to the benefit of the Investors and their respective successors and assigns. An Investor may transfer or assign, in whole or from time to time in part, to one or more persons its rights hereunder in connection with the transfer of Registrable
Securities by such Investor to such person, provided that such Investor complies with all laws applicable thereto and provides written notice of assignment to the Company promptly after such assignment is effected. 

 (d) Assignments and Transfers by the Company. This Agreement may not be assigned by the
Company (whether by operation of law or otherwise) without the prior written consent of each of the Investors, provided, however, that in the event that the Company is a party to a merger, consolidation, share exchange or similar business
combination transaction in which the Common Stock is converted into the equity securities of another Person, from and after the effective time of such transaction, such Person shall, by virtue of such transaction, be deemed to have assumed the
obligations of the Company hereunder, the term “Company” shall be deemed to refer to such Person and the term “Registrable Securities” shall be deemed to include the securities received by the Investors in connection with such
transaction unless such securities are otherwise freely tradable by the Investors after giving effect to such transaction. 
 (e)
Benefits of the Agreement. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended
to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

(f) Counterparts; Faxes. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. This Agreement may also be executed via facsimile, which shall be deemed an original. 

(g) Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 
 (h) Severability. Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof but shall be interpreted as if it were written so as to be enforceable to
the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the
parties hereby waive any provision of law which renders any provisions hereof prohibited or unenforceable in any respect. 
 (i) Further
Assurances. The parties shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the
agreements herein contained. 
 (j) Entire Agreement. This Agreement is intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. This Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter. 

 (k) Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement shall be
governed by, and construed in accordance with, the internal laws of the State of New York without regard to the choice of law principles thereof. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State
of New York located in New York County and the United States District Court for the Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions
contemplated hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this Agreement. Each of the
parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. Each party hereto irrevocably waives any objection to the laying of venue of any such suit,
action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL
BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER. 

[remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized
officers to execute this Agreement as of the date first above written. 
  

									
	 COMPANY:
	 		 	ARGOS THERAPEUTICS, INC.
				
		 		 	By:	 	 /s/ Lori R. Harrelson

		 		 		 	Name:	 	Lori R. Harrelson
		 		 		 	Title:	 	Vice President of Finance

  
 [Signature Page
to Registration Rights Agreement] 

									
	 INVESTOR:
	 		 	PHARMSTANDARD INTERNATIONAL S.A.
				
		 		 	By:	 	 /s/ Eriks Martinovskis

		 		 		 	Name:	 	Eriks Martinovskis
		 		 		 	Title:	 	Director

  
 [Signature Page
to Registration Rights Agreement] 

									
	 INVESTOR:
	 		 	FORARGOS B.V.
				
		 		 	By:	 	 /s/ S.J.H. Van Deventer/ H.A Slootweg

		 		 		 	Name:	 	S.J.H. Van Deventer/ H.A Slootweg
		 		 		 	Title:	 	Directors of Forbion I Management B.V., its director

  
 [Signature Page
to Registration Rights Agreement] 

									
	INVESTOR:	 		 	TIANYI LUMMY INTERNATIONAL HOLDINGS GROUP LTD.
				
		 		 	By:	 	 /s/ Ma Li

					
		 		 		 	Name:	 	Ma Li
		 		 		 	Title:	 	President

  
 [Signature Page
to Registration Rights Agreement] 

									
	INVESTOR:	 		 	CHINA BIOPHARMA CAPITAL I, L.P.
				
		 		 	By:	 	 /s/ Mirko Scherer

	represented by its General Partner China BioPharma Capital I (GP) Ltd.	 		 		 	Name:	 	Dr. Mirko Scherer
	 		 		 	Title:	 	Director
				
		 		 	By:	 	/s/ Stefan Fischer
		 		 		 	Name:	 	Stefan Fischer
		 		 		 	Title:	 	Director

  
 [Signature Page
to Registration Rights Agreement] 

									
	INVESTOR:	 		 	TVM V LIFE SCIENCE VENTURES GMBH & CO. KG
				
		 		 	By:	 	 /s/ Stefan Fischer / Hubert Birner

		 		 		 	Name:	 	Stefan Fischer / Hubert Birner
		 		 		 	Title:	 	Authorized Officers

  
 [Signature Page
to Registration Rights Agreement] 

									
	INVESTOR:	 		 		 		 	
				
		 		 		 	 WASATCH FUNDS TRUST
 for
Wasatch Small Cap Growth Fund
 for Wasatch Ultra Growth Fund

for Wasatch Micro Cap Fund

					
		 		 		 	By:	 	Wasatch Advisors, Inc.
		 		 		 	Its:	 	Investment Adviser
				
		 		 	By:	 	 /s/ Daniel Thurber

		 		 		 	 Name:
 Its:
	 	 Daniel Thurber
 Vice President

  
 [Signature Page
to Registration Rights Agreement] 

 Plan of Distribution 

The selling stockholders, which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of common
stock or interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or
all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market
prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. 

The selling stockholders may use any one or more of the following methods when disposing of shares or interests therein: 

 

	 	•	 	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

  

	 	•	 	block trades in which the broker-dealer will attempt to sell the shares as agent, but may position and resell a portion of the block as principal to facilitate the transaction; 

 

	 	•	 	purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

  

	 	•	 	an exchange distribution in accordance with the rules of the applicable exchange; 

  

	 	•	 	privately negotiated transactions; 

  

	 	•	 	short sales effected after the date the registration statement of which this Prospectus is a part is declared effective by the SEC; 

  

	 	•	 	through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; 

  

	 	•	 	broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share; 

  

	 	•	 	a combination of any such methods of sale; and 

  

	 	•	 	any other method permitted by applicable law. 

 The selling stockholders may, from time to
time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock,
from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other
successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the
selling beneficial owners for purposes of this prospectus. 

 In connection with the sale of our common stock or interests therein, the selling stockholders
may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they assume. The selling stockholders may also sell shares of
our common stock short and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other
transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares
such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). 

The aggregate proceeds to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common
stock less discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together with their agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly
or through agents. We will not receive any of the proceeds from this offering. Upon any exercise of the warrants by payment of cash, however, we will receive the exercise price of the warrants. 

The selling stockholders also may resell all or a portion of the shares in open market transactions in reliance upon Rule 144 under the
Securities Act of 1933, provided that they meet the criteria and conform to the requirements of that rule. 
 The selling stockholders and
any underwriters, broker-dealers or agents that participate in the sale of the common stock or interests therein may be “underwriters” within the meaning of Section 2(a)(11) of the Securities Act. Any discounts, commissions,
concessions or profit they earn on any resale of the shares may be underwriting discounts and commissions under the Securities Act. Selling stockholders who are “underwriters” within the meaning of Section 2(a)(11) of the Securities
Act will be subject to the prospectus delivery requirements of the Securities Act. 
 To the extent required, the shares of our common stock
to be sold, the names of the selling stockholders, the respective purchase prices and public offering prices, the names of any agents, dealer or underwriter, any applicable commissions or discounts with respect to a particular offer will be set
forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus. 

In order to comply with the securities laws of some states, if applicable, the common stock may be sold in these jurisdictions only through
registered or licensed brokers or dealers. In addition, in some states the common stock may not be sold unless it has been registered or qualified for sale or an exemption from registration or qualification requirements is available and is complied
with. 

 We have advised the selling stockholders that the anti-manipulation rules of Regulation M
under the Exchange Act may apply to sales of shares in the market and to the activities of the selling stockholders and their affiliates. In addition, to the extent applicable we will make copies of this prospectus (as it may be supplemented or
amended from time to time) available to the selling stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The selling stockholders may indemnify any broker-dealer that participates in transactions
involving the sale of the shares against certain liabilities, including liabilities arising under the Securities Act. 
 We have agreed to
indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the registration of the shares offered by this prospectus. 

We have agreed with the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until
the earlier of (1) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with such registration statement or (2) the date on which all of the shares may be sold without restriction
pursuant to Rule 144 of the Securities Act.EX-10.1

 Exhibit 10.1 

FORM OF ADMINISTRATIVE SERVICES AGREEMENT 

This ADMINISTRATIVE SERVICES AGREEMENT is entered into on, and effective as of, [●], 2016 by and among Energy Transfer Equity, L.P., a
Delaware limited partnership (“ETE”), Energy Transfer Corp LP, a Delaware limited partnership (“Energy Transfer Corp”), and Energy Transfer Corp GP, LLC, a Delaware limited liability company and the general partner
of Energy Transfer Corp (the “General Partner”). The above-named entities are sometimes referred to in this Agreement each as a “Party” and collectively as the “Parties.” 

WHEREAS, the Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth herein, with respect
to certain general and administrative services to be provided by ETE for and on behalf of the General Partner and the Partnership Group (as such term is defined in the First Amended and Restated Agreement of Limited Partnership of Energy Transfer
Corp LP, dated as of [●], 2016, as the same may be further amended, modified and supplemented from time to time (the “Energy Transfer Corp Agreement”), and ETE’s related reimbursement obligations; 

NOW THEREFORE, in consideration of the premises and the covenants, conditions, and agreements contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree as follows: 

ARTICLE I 
 Services,
Compensation and Reimbursements 
 1.1 Provision of General and Administrative Services. ETE shall provide the General Partner
and the Partnership Group with all general and administrative services necessary or useful for the conduct of their respective businesses, including but not limited to financial, legal, accounting, tax advisory, financial advisory, auditing,
billing, corporate record keeping, treasury services (including with respect to the payment of distributions and allocation of reserves for taxes), cash management and banking, planning, budgeting, investor relations, risk management, information
technology, insurance administration and claims processing, regulatory compliance and government relations, tax preparation, payroll, human resources, printing costs, and other administrative services as the Parties may agree from time to time
(collectively, the “G&A Services”). 
 1.2 Performance of G&A Services By Affiliates and Third Parties. In
discharging its obligations hereunder, ETE may engage any of its affiliates or any qualified third party to provide the G&A Services (or any part thereof) on its behalf and the performance of the G&A Services (or any part thereof) by any
such affiliate or third party will be treated as if ETE performed such G&A Services itself. Notwithstanding the foregoing, the engagement of any such affiliate or third party to provide G&A Services shall not relieve ETE of its obligations
hereunder. 
 1.3 Compensation. In consideration of the G&A Services provided by ETE pursuant to this Agreement, ETE shall be
entitled to a cost-based fee, payable on an annual basis, from the General Partner and the Partnership Group. Billings and payments may be accomplished by inter-company accounting procedures and transfers. 

 

 1.4 Reimbursement by ETE. ETE shall reimburse the General Partner for, or pay on behalf of
the General Partner and the Partnership Group, all direct and indirect costs and expenses incurred by the General Partner and the Partnership Group during the term of this Agreement in connection with the following: 

(a) payments or expenses incurred for G&A Services provided by third parties or any affiliates of ETE or for fees incurred under
Section 1.3; 
 (b) salaries and related benefits and expenses of any personnel employed by the General Partner and the Partnership
Group, if any, plus general and administrative expenses associated with such personnel and compensation and benefits (other than equity compensation) paid to officers and members of the board of directors of the General Partner; 

(c) equity compensation awarded by the General Partner or the Partnership Group to the extent that ETE determines such equity compensation is
allocable to ETE; and 
 (d) expenses and expenditures incurred by the General Partner as a result of Energy Transfer Corp becoming and
continuing as a publicly traded entity, including, without limitation, costs associated with annual, quarterly and other reports to the Securities and Exchange Commission and securities holders, tax returns and Form 1099 preparation and
distribution, stock exchange listing fees, independent auditor fees, governance and compliance (including the maintenance of good standing in jurisdictions in which Energy Transfer Corp or any other Partnership Group Member (as defined in the Energy
Transfer Corp Agreement) operate), registrar and transfer agent fees and legal fees, including, in each case, fees and expenses incurred in connection with any capital markets, financing or other corporate transaction. 

1.5 Billing Procedures. ETE will reimburse the General Partner and Energy Transfer Corp for billed costs and expenses no later than
thirty (30) calendar days following the date of the billing. Billings and payments may be accomplished by inter-company accounting procedures and transfers. ETE shall have the right to review all source documentation concerning such billed
costs and expenses. 
 ARTICLE II 

Indemnification 
 2.1
Indemnification by ETE. ETE shall indemnify, protect and defend the Partnership Group and all of the officers, directors, employees and agents of any Partnership Group Member (each, an “Indemnified Party” and, collectively, the
“Indemnified Parties”) against, and hold the Indemnified Parties harmless from, any and all losses (including lost profits), costs, damages, injuries, taxes, penalties, expenses, obligations, claims and liabilities (joint or severable) of
any kind or nature whatsoever (collectively, the “Claims”) that are incurred by such Indemnified Parties in connection with, relating to or arising out of (a) the performance of any services under this Agreement, or (b) the
breach by ETE or its directors, officers, employees, agents, 

  
 2 

 
contractors, subcontractors or consultants of any term or condition of this Agreement; provided, however, that ETE shall not be obligated to indemnify, reimburse, defend or hold harmless any
Indemnified Party for any Claims incurred by such Indemnified Party in connection with, relating to or arising out of (i) a breach by such Indemnified Party of this Agreement, (ii) the gross negligence, willful misconduct, bad faith or
reckless disregard of such Indemnified Party with respect to any services provided under this Agreement or (iii) the fraudulent or dishonest acts of such Indemnified Party. 

2.2 Indemnification Procedures. 

(a) An Indemnified Party agrees that promptly after it becomes aware of facts giving rise to a Claim under this Article 2, it will provide
notice thereof to ETE, specifying the nature of and specific basis for such claim, copies of all correspondence with third parties, governmental authorities or other individuals relating to the Claim, and other relevant information reasonably
requested by ETE. 
 (b) ETE shall have the right to control all aspects of the response to and/or defense of (and any counterclaims with
respect to) any Claims brought against the Indemnified Party that are covered by the indemnification under this Article 2, including correspondence and negotiation with governmental authorities, the selection of counsel and other consultants,
determination of the scope of and approach to any investigation, determination of whether to appeal any decision of any court, determination of whether to enter into any voluntary agreement with any governmental authority, and the settling of any
such matter or any issues relating thereto; provided, however, that no such settlement shall be entered into without the consent of the Indemnified Party unless it includes a full release of the Indemnified Party from such matter or issues, as the
case may be. 
 (c) The Indemnified Party agrees to cooperate fully with ETE, with respect to all aspects of the defense of any Claims
covered by the indemnification under this Article 2, including the prompt furnishing to ETE of any correspondence or other notice relating thereto that the Indemnified Party may receive, permitting the name of the Indemnified Party to be
utilized in connection with such defense, the making available to ETE of any files, records or other information of the Indemnified Party that ETE considers relevant to such defense and the making available to ETE of any employees of the Indemnified
Party; provided, however, that in connection therewith ETE agrees to use reasonable efforts to minimize the impact thereof on the operations of the Indemnified Party and further agrees to maintain the confidentiality of all files, records, and other
information furnished by the Indemnified Party pursuant to this Section 2.2. In no event shall the obligation of the Indemnified Party to cooperate with ETE as set forth in the immediately preceding sentence be construed as imposing upon
the Indemnified Party an obligation to hire and pay for counsel in connection with the defense of any Claims covered by the indemnification set forth in this Article 2; provided, however, that the Indemnified Party may, at its own option,
cost and expense, hire and pay for counsel in connection with any such defense. ETE agrees to keep any such counsel hired by the Indemnified Party informed as to the status of any such defense, but ETE shall have the right to retain sole control
over such defense. 
 (d) In determining the amount of any loss, cost, damage or expense for which the Indemnified Party is entitled to
indemnification under this Agreement, the gross amount of 

  
 3 

 
the indemnification will be reduced by (i) any insurance proceeds realized by the Indemnified Party, and such correlative insurance benefit shall be net of any incremental insurance premiums
that become due and payable by the Indemnified Party as a result of such claim and (ii) all amounts recovered by the Indemnified Party under contractual indemnities from third parties. 

ARTICLE III 

Miscellaneous 
 3.1
Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this
Agreement to the laws of another state. 
 3.2 Entire Agreement. This Agreement constitutes the entire agreement of the Parties
relating to the matters contained herein, superseding all prior contracts or agreements, whether oral or written, relating to the matters contained herein. 

3.3 Termination of Agreement. This Agreement shall remain in effect until terminated by mutual agreement of the Parties. All payment
obligations hereunder shall survive the termination of this Agreement in accordance with their respective terms. 
 3.4 Amendment or
Modification. This Agreement may be amended or modified from time to time only by the written agreement of the Parties hereto. 
 3.5
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signatory parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same
instrument. Delivery of an executed signature page of this Agreement by facsimile transmission or in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart hereof. 

3.6 Severability. If any provision of this Agreement shall be held invalid or unenforceable by a court or regulatory body of competent
jurisdiction, the remainder of this Agreement shall remain in full force and effect. 
 3.7 No Third Party Beneficiaries. The
provisions of this Agreement are enforceable solely by the Parties to this Agreement. No holder of securities in Energy Transfer Corp shall have the right, separate and apart from Energy Transfer Corp, to enforce any provision of this Agreement or
to compel any Party to this Agreement to comply with the terms of this Agreement. 
 3.8 Further Assurances. In connection with this
Agreement and all transactions contemplated by this Agreement, each Party agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and
perform all of the terms, provisions and conditions of this Agreement and all such transactions. 
 [Signature page follows.] 

  
 4 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on, and effective as of, the
date first written above. 
  

			
	Energy Transfer Equity, L.P.
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	  
 Energy Transfer Corp LP

 

	 By:
	 	Energy Transfer Corp GP, LLC, its sole general partner
		
	By:	 	  

		 	Name:
		 	Title:
	  
 Energy Transfer Corp GP, LLC

 

		
	 By:
	 	  

		 	Name:
		 	Title:

 [Signature Page to Administrative Services Agreement]

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