Document:

Exclusive License Agreement

 Exhibit 10.18 

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
 EXCLUSIVE 

LICENSE AGREEMENT 

Between 
 THE
REGENTS OF THE 
 UNIVERSITY OF CALIFORNIA 

And 

MEDIVATION, INC. 

and 

MEDIVATION PROSTATE THERAPEUTICS, INC. 

“[ * ]” 

(UC Case No. [ * ]) 

and 
 “[ *
]” 
 (UC Case No. [ * ]) 
  

 1. 

 LICENSE AGREEMENT 

TABLE OF CONTENTS 
  

					
	ARTICLE	  	PAGE NUMBER
		
	 RECITALS
	  	3
			
	 1.
	 	 DEFINITIONS
	  	4
	 2.
	 	 GRANT
	  	6
	 3.
	 	 SUBLICENSES
	  	6
	 4.
	 	 FEES
	  	7
	 5.
	 	 ROYALTIES
	  	8
	 6.
	 	 DILIGENCE
	  	9
	 7.
	 	 PATENT FILING, PROSECUTION AND MAINTENANCE
	  	10
	 8.
	 	 PATENT INFRINGEMENT
	  	11
	 9.
	 	 PROGRESS AND ROYALTY REPORTS
	  	12
	 10.
	 	 BOOKS AND RECORDS
	  	12
	 11.
	 	 LIFE OF THE AGREEMENT
	  	13
	 12.
	 	 TERMINATION BY THE REGENTS
	  	13
	 13.
	 	 TERMINATION BY LICENSEE
	  	13
	 14.
	 	 DISPOSITION OF LICENSED PRODUCTS ON HAND UPON TERMINATION
	  	14
	 15.
	 	 PATENT MARKING
	  	14
	 16.
	 	 USE OF NAMES AND TRADEMARKS
	  	14
	 17.
	 	 LIMITED WARRANTY
	  	14
	 18.
	 	 INDEMNIFICATION
	  	15
	 19.
	 	 NOTICES
	  	16
	 20.
	 	 ASSIGNABILITY
	  	17
	 21.
	 	 LATE PAYMENTS
	  	17
	 22.
	 	 WAIVER
	  	17
	 23.
	 	 FAILURE TO PERFORM
	  	17
	 24.
	 	 GOVERNING LAW
	  	17
	 25.
	 	 GOVERNMENT APPROVAL OR REGISTRATION
	  	17
	 26.
	 	 EXPORT CONTROL LAWS
	  	18
	 27.
	 	 PREFERENCE FOR UNITED STATES INDUSTRY
	  	18
	 28.
	 	 FORCE MAJEURE
	  	18
	 29.
	 	 CONFIDENTIALITY
	  	18
	 30.
	 	 HHMI THIRD-PARTY BENEFICIARY STATUS
	  	19
	 31.
	 	 MISCELLANEOUS
	  	19
	 APPENDIX A
	  	21

  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 2. 

 EXCLUSIVE LICENSE AGREEMENT 

This Agreement is made and is effective this 12th day of August 2005, (the “Effective Date”) between THE REGENTS OF THE UNIVERSITY OF
CALIFORNIA (“The Regents”), a California corporation having its corporate offices located at 1111 Franklin Street, Oakland, California 94607-5200, acting through its offices located at 10920 Wilshire Blvd, Suite 1200, Los Angeles,
California 90024-1406, and MEDIVATION, INC. (“Medivation”), a Delaware corporation, and MEDIVATION PROSTATE THERAPEUTICS, INC. (“MPT”) (Medivation and MPT together “Licensee”), a Delaware
corporation and wholly-owned subsidiary of Medivation, each having a principal place of business at 501 Second Street, Suite 211, San Francisco, CA 94107. 

RECITALS 
 WHEREAS,
certain inventions (the “Inventions”), generally characterized as “[ * ]” (UC Case No. [ * ]) and “[ * ]” (UC Case No. [ * ]), was made in the course of research at the University of California, Los Angeles by [ * ],
employee(s) of The Regents, and [ * ], an employee of the Howard Hughes Medical Institute (“HHMI”) and member of the faculty of the University of California, Los Angeles, and is claimed in Regents’ Patent Rights as defined below;

 WHEREAS, each of [ * ], as employees of The Regents, is obligated to assign their right, title and interest in and to the Invention to The
Regents; 
 WHEREAS, HHMI assigned its rights in the Invention to The Regents under the terms of the interinstitutional agreement with HHMI
having UC Control No. 1986-18-0017 (“HHMI Interinstitutional Agreement”), and accordingly, The Regents has the authority to license the entire interest in the Invention and any patent rights claiming it; 

WHEREAS, under the terms of the HHMI Interinstitutional Agreement, HHMI has reserved nonexclusive, paid-up, royalty-free, irrevocable licenses, with no
right to sublicense others, to make and use the Invention for research purposes; 
 WHEREAS, the Invention was developed with United States
Government funds, and The Regents has elected title thereto and granted a royalty-free nonexclusive license to the United States Government on August 10, 2005, as required under 35 U.S.C. §201-212; 

WHEREAS, Licensee and The Regents entered into a secrecy agreement effective [ * ] and expiring on [ * ] (“Secrecy Agreement”) to allow
Licensee to evaluate its interest in the Inventions and, as a result of its evaluation, Licensee wishes to obtain certain rights from The Regents; 

WHEREAS, Medivation and The Regents entered into a Letter Agreement effective [ * ] in which The Regents agreed to negotiate exclusively with Medivation
for a license to certain rights in the Inventions; 
 WHEREAS, Licensee is a “small business concern” as defined in 15 U.S.C.
§632; and 
  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 3. 

 WHEREAS, The Regents wishes that Regents’ Patent Rights be developed and utilized to the fullest extent
so that the benefits can be enjoyed by the general public. 
 The parties agree as follows: 

1. DEFINITIONS 
  

	1.1	“Regents’ Patent Rights” means The Regents interest in the claims of the United States patents and patent applications, corresponding foreign
patents and patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part applications that
are entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos. [ * ] and [ * ]). 

 

	1.2	“Licensed Product” means any article, composition, apparatus, substance, chemical, or any other material covered by the claims of Regents’ Patent
Rights or whose manufacture, use or sale would constitute an infringement of any claim within Regents’ Patent Rights, or any service, article, composition, apparatus, chemical, substance, or any other material made, used, or sold by or
utilizing or practicing a Licensed Method. This definition of Licensed Product also includes a service either used by Licensee, an Affiliate, or sublicensee or provided by Licensee, an Affiliate or sublicensee to its customers when such service
requires the use of Licensed Product or performance of Licensed Method. Additionally, for the avoidance of doubt, if such product is a component of a larger unit such as a kit, composition of matter or combination, such kit, composition of matter or
combination is deemed to be the Licensed Product for purposes of this definition. 

  

	1.3	“Licensed Method” means any process or method which is covered by the claims of Regents’ Patent Rights or whose use or practice would constitute
an infringement of any claim within Regents’ Patent Rights. 

  

	1.4	The “Field of Use” means the treatment or prevention of disease using the compositions of matter with the chemical structures identified in
Regents’ Patent Rights; provided, however, that The Regents will retain the right to provide such compounds included within the subject technology to third parties for [ * ]. 

 

	1.5	“Affiliate” means any corporation or other business entity in which Licensee owns or controls, directly or indirectly, at least 50% of the outstanding
stock or other voting rights entitled to elect directors. In any country where the local law does not permit foreign equity participation of at least 50%, then “Affiliate” means any company in which Licensee owns or controls, directly or
indirectly, the maximum percentage of outstanding stock or voting rights that is permitted by local law. 

  

	1.6	“First Commercial Sale” means the first sale of any Licensed Product by Licensee or any Affiliate or Sublicensee, following approval of its marketing
by the appropriate governmental agency for the country in which the sale is to be made. When governmental approval is not required. “First Commercial Sale” means the first sale in that country. 

 

	1.7	“Final Sale” means any sale, transfer, lease, exchange or other disposition or provision of a Licensed Product and/or a Licensed Method to a Customer.
A Final Sale shall be deemed to have occurred upon the earliest to occur of the following (as applicable): (a) the transfer of title to such Licensed Product and/or Licensed Method to a Customer, (b) the shipment of such Licensed Product
to a Customer, (c) the provision of a Licensed Method to a Customer, (d) the provision of an invoice for such Licensed Product or Licensed Method to a Customer, or (e) payment by the Customer for Licensed Products or Licensed Methods.

  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 4. 

	1.8	“Net Sales” means the total of the gross amount invoiced or otherwise charged (whether consisting of cash or any other forms of consideration) for the
Final Sale of Licensed Products or Licensed Methods by Licensee, or by any Affiliate, Joint Venture or Sublicensee to Customers, less the following deductions (to the extent included in and not already deducted from the gross amount invoiced or
otherwise charged) to the extent reasonable and customary: cash, trade or quantity discounts actually granted to Customers; sales, use, tariff, import/export duties or other excise taxes imposed on particular sales (excepting value added taxes or
income taxes); transportation charges, including insurance to the extent actually paid by the Customer; and allowances or credits to Customers because of rejections or returns. Where Licensee or any Affiliate, Joint Venture or Sublicensee is the
Customer, then Net Sales shall be based on the gross amount normally invoiced or otherwise charged to other Customers in an arms length transaction for such Licensed Products or Licensed Methods. For the avoidance of doubt, if Licensee or any
Affiliate, Joint Venture or Sublicensee supplies (directly or indirectly) a product that constitutes a Licensed Product to any Affiliate, Joint Venture or Sublicensee and such Affiliate, Joint Venture or Sublicensee includes such product in another
product, then Net Sales shall be based on the total gross amount invoiced or otherwise charged for such other product in its entirety. 

  

	1.9	“Sublicensee” means any third party sublicensed by Licensee to make, have made, use, sell, offer for sale or import any Licensed Product or to practice
any Licensed Method. 

  

	1.10	“Sublicensing Income” means income received by Licensee under or on account of Sublicenses. Sublicensing Income includes income received including but
not limited to license issue fees, milestone payments, and the like but specifically excludes royalties on the sale or distribution of Licensed Products or the practice of Licensed Methods. If Licensee accepts noncash consideration from its
sublicensee, then, at the option of The Regents, Licensee will compensate The Regents with the cash equivalent of such noncash consideration. Not included in the definition of Sublicensing Income is income received by Licensee as payment or
reimbursement for research costs conducted by or for Licensee, including costs associated with materials, equipment or clinical testing. 

  

	1.11	“Customer” means any individual or entity that receives Licensed Products or Licensed Methods, provided however, that Licensee or any Affiliate, Joint
Venture or Sublicensee shall be deemed a Customer only if it receives Licensed Products or Licensed Services for its own end-use and not resale. 

  

	1.12	“Sublicense” means any transaction (a) in which the Licensee grants to any third party a license to make, have made, use, sell, offer for sale or
import any Licensed Product or to practice any Licensed Method, and (b) which is not a Licensee Liquidity Transaction. 

  

	1.13	“Licensee Liquidity Transaction” means (a) the sale of all or substantially all of the business or assets of MPT, whether by merger,
consolidation, asset acquisition, stock acquisition, or otherwise, (b) any corporate partnership, joint venture or other such transaction between MPT and one or more non-Affiliate third parties which has as its purpose the research, development
and/or commercialization of one or more Licensed Products or Licensed Methods, and pursuant to which MPT retains significant ongoing financial and/or operational responsibility for such research, development and/or commercialization, (c) the
initial public offering of MPT’s common stock, or (d) the receipt of marketing approval for a Licensed Product in [ * ]. 

  

	1.14	“Licensee” means both Medivation, Inc. and Medivation Prostate Therapeutics, Inc., both of which shall be responsible for all obligations and duties
under this Agreement. 

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 5. 

 2. GRANT 

 

	2.1	Subject to the limitations set forth in this Agreement, including the licenses granted to the United States Government and those reserved by HHMI set forth in the
recitals and in Paragraph 2.2 and the rights reserved by The Regents in Paragraph 2.3, The Regents hereby grants to Licensee an exclusive license (the “License”) under Regents’ Patent Rights, in jurisdictions where Regents’
Patent Rights exist, to make, have made, use, sell, offer for sale and import Licensed Products and to practice Licensed Methods in the Field of Use to the extent permitted by law. 

 

					
	2.2	  	2.2a	  	The License is subject to all the applicable provisions of any license to the United States Government executed by The Regents and is subject to any overriding obligations to the
United States Federal Government under 35 U.S.C. §200-212 and applicable governmental implementing regulations and the obligation to report on the utilization of the Invention set forth in 37 CFR §401.14(h). Moreover, the Licenses granted
to Licensee hereunder also are subject to the National Institutes of Health “Principles and Guidelines for Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources” set forth in 64F.R.
72090 (Dec. 23, 1999).
			
		  	2.2b	  	The License granted hereunder is also subject to the paid-up, non-exclusive, irrevocable licenses reserved by HHMI to make and use the Invention for its research purposes. Such
licenses reserved by HHMI specified in the recitals and the immediately prior sentence do not include the right to sublicense others. Moreover, the Licenses granted to Licensee hereunder also are subject to HHMI’s statement of policy on
research tools. Note: HHMI’s policy can be found at www.hhmi.org/about/ogc/policies.html.

  

	2.3	The Regents expressly reserves the right to use Regents’ Patent Rights and associated technology for educational, research and clinical purposes including
publication of research results and sharing research results with other non-profit institutions, and allowing other non-profit research institutions to use Regents’ Patent Rights and associated technology for the same purpose.

 3. SUBLICENSES 
  

	3.1	The Regents also grants to Licensee the right to issue exclusive or nonexclusive sublicenses to third parties to make, have made, use sell, offer for sale or import
Licensed Products and to practice Licensed Methods in any jurisdiction in which Licensee has exclusive rights under this Agreement (“Sublicenses”). All Sublicenses will include all of the rights of, and will require the performance of all
the obligations due to, The Regents and HHMI (and, if applicable, the United States Government) under this Agreement other than those rights and obligations specified in, Article 4 (Fees), Paragraph 5.2 (minimum annual royalties), and Paragraphs 7.1
and 7.2 (reimbursement of patent costs). 

  

	3.2	Licensee must pay to The Regents (a) [ * ] of all Sublicensing Income from all Sublicenses granted prior to [ * ]; (b) [ * ] of all Sublicensing Income from
all Sublicenses granted after [ * ] but prior to [ * ]; and (c) [ * ] of all Sublicensing Income from all Sublicenses granted thereafter. If, as part of the same or a related transaction in which Licensee sublicenses Regents’ Patent Rights
to a third party, Licensee also licenses other patent rights to such third party, Licensee and The Regents shall make a good faith determination in apportioning the value of Sublicensing Income as to the total consideration received from such third
party. 

  

	3.3	On Net Sales of Licensed Products sold or disposed of by a Sublicensee, Licensee must pay to The Regents an earned royalty in accordance with Article 5 (Royalties) as
if these were Licensee’s Net Sales. Any royalties received by Licensee in excess of royalties due to The Regents under this Paragraph 3.3 belong to Licensee. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 6. 

	3.4	Licensee must provide to The Regents a copy of each Sublicense within [ * ] of execution, and a copy of all information submitted to Licensee by Sublicensees relevant
to the computation of the payments due to The Regents under this Article 3. 

  

	3.5	If this Agreement is terminated for any reason, all outstanding Sublicenses, not in default, will be assigned by Licensee to The Regents, [ * ]. The Sublicenses will [
* ] with [ * ] but [ * ] and [ * ], including [ * ]. [ * ]. 

 4. FEES 

 

	4.1	In partial consideration for the License, Licensee will pay to The Regents a license issue fee of [ * ] dollars ($[ * ]) within [ * ] of the Effective Date. This fee is
nonrefundable and is not an advance against royalties. 

  

					
	4.2	  	4.2a	  	Within [ * ] of the Effective Date, Licensee will grant to The Regents options to purchase [ * ] shares of Common Stock of Licensee. All options issued to The Regents will be [ * ]
upon [ * ], at no cost to The Regents, and become exercisable immediately prior to [ * ].

  

	 	4.2b	The Regents’ acceptance of equity is contingent upon receiving approval from the University of California Office of the President, and if such approval is not
granted, the parties will negotiate an alternate form of financial consideration in lieu of the equity component due The Regents. 

  

	 	4.2c	Licensee’s shareholder purchase agreement, stock restriction agreement, or derivatives thereof, shall contain language that permits The Regents to distribute,
under The Regents’ Patent Policy, a share of the options to its inventors of Regents Patent Rights licensed hereunder. 

  

	 	4.2d	Licensee will be responsible for funding all costs associated with the development and commercialization of Regents’ Patent Rights, to the extent licensed
hereunder, including without limitation all patent prosecution and maintenance costs. Medivation will provide capital contributions to MPT to finance such costs, and will be entitled to receive [ * ] share of MPT’s Common Stock for each [ * ]
of capital contributions made to MPT. Capital contributions may include both direct infusions of cash from Medivation to MPT, and reasonable allocations to MPT of Medivation’s costs. 

 

	 	4.2e	The parties acknowledge that Medivation’s business strategy is to operate as a publicly traded holding company, with multiple operating subsidiaries. As such,
Medivation will be entitled to allocate all of its costs to its various operating subsidiaries, including MPT. All costs directly attributable to activities performed on behalf of a specific operating subsidiary, such as patent prosecution,
maintenance and enforcement costs, compound manufacturing costs, preclinical and clinical testing costs, etc., will be allocated exclusively to the applicable subsidiary. All other costs, including management, facilities, insurance, compliance,
etc., will be allocated to Medivation’s operating subsidiaries, including MPT, equally or on any other basis Medivation deems to be fair in its reasonable discretion. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 7. 

	 	4.2f	Medivation will maintain complete and accurate financial records of its and MPT’s operations, including capital contributions from Medivation and allocations of
Medivation’s costs, and these records will be open to review by The Regents and its professional advisers on commercially reasonable terms, subject to the confidentiality provisions of Article 29 (Confidentiality). 

 

	4.3	For each Licensed Product reaching the milestones indicated below, Licensee must make the following payments to The Regents within [ * ] of reaching the milestones:

  

	 	4.3a	$[ * ] upon [ * ] of a Licensed Product; $[ * ] upon [ * ] of a Licensed Product [ * ]; maximum total milestones under 4.3a of $[ * ]; 

 

	 	4.3b	$[ * ] upon [ * ] of a Licensed Product; $[ * ] upon [ * ] of a Licensed Product [ * ]; maximum total milestones under 4.3b of $[ * ]. 

 

	 	4.3c	$[ * ] upon [ * ] of a Licensed Product; $[ * ] upon [ * ] of a Licensed Product [ * ]; maximum total milestones under 4.3c of $[ * ]. 

 

	 	4.3d	$[ * ] upon [ * ] a Licensed Product [ * ]; $[ * ] upon [ * ] Licensed Product [ * ]; maximum total milestones under 4.3d of $[ * ]. 

 

	 	4.3e	The Regents may elect, at their sole option, to receive in the form of additional options, in lieu of cash, any milestone payments earned prior to [ * ] (as defined in
Paragraph 4.2a). If The Regents elect to take any such milestone payment(s) in the form of options, the options will be [ * ] upon [ * ], at no cost to The Regents, become exercisable immediately prior to [ * ], and will be valued at [ * ].
Milestone payments earned after [ * ] will be payable solely in cash. 

  

	4.4	Licensee must pay to The Regents a license maintenance fee of [ * ] dollars ($[ * ]) beginning on the [ * ] anniversary date of the Effective Date of this Agreement and
continuing annually on each anniversary date of the Effective Date. The maintenance fee will not be due and payable on any anniversary date of the Effective Date if on that date Licensee is commercially selling a Licensed Product and paying an
earned royalty to The Regents on the sales of that Licensed Product. The license maintenance fees are non-refundable and are not an advance against royalties. 

5. ROYALTIES 
  

	5.1	Licensee must pay to The Regents for sales by Licensee or its Affiliates an earned royalty of [ * ] % of Net Sales of Licensed Products or Licensed Methods.

  

	5.2	Licensee must pay to The Regents a minimum annual royalty of [ * ] dollars ($[ * ]) for the life of Regents’ Patent Rights, beginning in the year of the First
Commercial Sale of Licensed Product. Licensee must pay the minimum annual royalty to The Regents by [ * ] of each year. The minimum annual royalty will be credited against the earned royalty due and owing for the calendar year in which the minimum
payment was made. 

  

	5.3	Paragraphs 1.1, 1.2, 1.3 and 1.4 define Regents’ Patent Rights, Licensed Product, Licensed Method and the Field of Use so that royalties are payable on products
covered by pending patent applications and issued patents. Royalties accrue for the duration of this Agreement. 

  

	5.4	Licensee must pay royalties owed to The Regents on a [ * ] basis. Licensee must pay the royalties within [ * ] of the end of the calendar [ * ] in which the royalties
accrued. 

  
 [ * ] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 8. 

	5.5	All monies due The Regents must be paid in United States funds. When Licensed Products are sold for monies other than United States dollars, the royalties will first be
determined in the foreign currency of the country in which those Licensed Products were sold and, second, converted into equivalent United States funds. Licensee must use the exchange rate established by the Bank of America in San Francisco,
California on the last day of the calendar quarter. 

  

	5.6	Any tax for the account of The Regents required to be withheld by Licensee under the laws of any foreign country must be promptly paid by Licensee for and on behalf of
The Regents to the appropriate governmental authority. Licensee will use its best efforts to furnish The Regents with proof of payment of any tax. Licensee is responsible for all hank transfer charges. All payments made by Licensee in fulfillment of
The Regents’ tax liability in any particular country will be credited against fees or royalties due The Regents for that country. 

  

	5.7	If at any time legal restrictions prevent the acquisition or prompt remittance of United States Dollars by Licensee with respect to any country where a Licensed Product
is sold, the Licensee shall pay royalties due to The Regents [ * ]. 

  

	5.8	If any patent or any claim included in Regents’ Patent Rights is held invalid or unenforceable in a final decision by a court of competent jurisdiction from which
no appeal has or can be taken, all obligation to pay royalties based on that patent or claim or any claim patentably indistinct from it will cease as of the date of that final decision. Licensee will not, however, be relieved from paying any
royalties that accrued before that decision or that is based on another patent or claim not involved in that decision. 

  

	5.9	No royalties will be collected or paid on Licensed Products sold to the United States Federal Government, or any agency of the United States Government. The Licensee
and its Sublicensee will reduce the amount charged for Licensed Products distributed to the United States Government by the amount of the royalty. 

6. DILIGENCE 
  

	6.1	Upon the execution of this Agreement, Licensee must diligently proceed with the development, manufacture and sale (“Commercialization”) of Licensed Products
and must earnestly and diligently endeavor to market them within a reasonable time after execution of this Agreement and in quantities sufficient to meet the market demands for them. 

 

	6.2	Licensee must endeavor to obtain all necessary governmental approvals for the Commercialization of Licensed Products. 

 

	6.3	Subject to Licensee’s rights under Paragraph 6.6, The Regents has the right and option to either terminate this Agreement or reduce Licensee’s exclusive
license to a nonexclusive license if Licensee fails to perform any of the terms in this Paragraph 6.3. This right, if exercised by The Regents, supersedes the rights granted in Article 2 (Grant). 

 

	 	6.3a	[ * ] a Licensed Product [ * ] by the [ * ] anniversary of the date of this Agreement; 

 

	 	6.3b	[ * ] of a Licensed Product by the [ * ] anniversary of the date of this Agreement; 

 

	 	6.3c	[ * ] of a Licensed Product by the [ * ] anniversary of the date of this Agreement; 

 

	 	6.3d	[ * ] a Licensed Product [ * ] by the [ * ] anniversary of the date of this Agreement; and 

 

	 	6.3e	[ * ] of a Licensed Product by the [ * ] anniversary of the date of this Agreement. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 9. 

	6.4	Licensee has the sole discretion for making all decisions as to how to commercialize any Licensed Product. 

 

	6.5	As further evidence of its due diligence in Commercialization of Licensed Products, Licensee represents and warrants that it has cash of at least [ * ] dollars ($[ *
]), and, Licensee further agrees that it will spend no less than [ * ] dollars ($[ * ]) per year on the Commercialization of Licensed Products. If Licensee breaches this Paragraph 6.5, and subject to Licensee’s rights under Paragraph 6.6, The
Regents has the right and option to either terminate this Agreement or reduce Licensee’s exclusive license to a nonexclusive license. This right, if exercised by The Regents, supersedes the rights granted in Article 2 (Grant).

  

	6.6	In the event that The Regents wishes to exercise its right to terminate this Agreement, or to reduce Licensee’s exclusive license to a nonexclusive license,
pursuant to Paragraph 6.3 or Paragraph 6.5 above, then in any such case The Regents will deliver to Licensee a written notice of the action The Regents wishes to take and the basis therefor (a “Termination Notice”). Upon receipt of any
Termination Notice, and for a period of [ * ] thereafter, Licensee shall have a [ * ] right to suspend the action proposed to be taken by The Regents in the Termination Notice for a period of [ * ] by payment to The Regents of [ * ] dollars ($[ * ])
in cash. If Licensee has not made payment to The Regents by the end of such [ * ] period, then the action specified in the Termination Notice shall take effect on such [ * ] day. If Licensee makes the payment, then (a) each milestone date in
Paragraph 6.3 shall be extended by [ * ] year, and (b) Licensee shall have [ * ] to bring itself into compliance with the spending requirements in Paragraph 6.5. 

7. PATENT FILING, PROSECUTION AND MAINTENANCE 
  

	7.1	As long as Licensee is current in reimbursing patent prosecution costs, The Regents will file, prosecute and maintain the patents and applications comprising
Regents’ Patent Rights. These patents will be held in the name of The Regents and will be obtained with counsel of The Regents’ choice. The Regents must provide Licensee with copies of each patent application, office action, response to
office action, request for terminal disclaimer, and request for reissue or reexamination of any patent or patent application under Regents’ Patent Rights. The Regents will consider any comments or suggestions by Licensee. The Regents is
entitled to take action to preserve rights or minimize costs whether or not Licensee has commented. 

  

	7.2	Licensee will bear all costs incurred prior to and during the term of this Agreement in the preparation, filing, prosecution and maintenance of patent applications and
patents in Regents’ Patent Rights. Prosecution includes interferences, oppositions and any other inter partes matters originating in a patent office. Licensee must send payment to The Regents within [ * ] of Licensee’s receipt of an
invoice. 

  

	7.3	Licensee has the right to request patent protection on the Invention in foreign countries if the rights are available. Licensee must notify The Regents of its decision
within [ * ] of the filing of the corresponding United States patent application. This notice must be in writing and must identify the countries desired. The absence of this notice from Licensee to The Regents will be considered an election not to
secure foreign rights. 

  

	7.4	[ * ] after the filing of the corresponding United States application, but not sooner, The Regents will have the right to file patent applications at its own expense in
any country which Licensee has not identified in written notice provided by 7.3. These applications and resulting patents will not he subject to this Agreement. 

 

	7.5	 Licensee’s obligation to underwrite and to pay all United States and foreign patent costs will continue for as long as this Agreement remains in
effect. Licensee may terminate its obligations with respect to any given patent application or patent upon [ * ] written notice to The Regents. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 10. 

	 	 
The Regents will use its best efforts to curtail patent costs chargeable to Licensee under this Agreement after this notice is received from Licensee. The Regents may continue prosecution or
maintenance of these application(s) or patent(s) at its sole discretion and expense, and Licensee will have no further rights or licenses to them. 

  

	7.6	The Regents will use its best efforts to not allow any Regents’ Patent Rights for which Licensee is licensed and is underwriting the costs of to lapse or become
abandoned without Licensee’s authorization or reasonable notice, except for the filing of continuations, divisionals, or the like which substitute for the lapsed application. 

8. PATENT INFRINGEMENT 
  

	8.1	In the event that The Regents (to the extent of the actual knowledge of the licensing professional responsible for the administration of this Agreement) or the Licensee
learns of infringement of potential commercial significance of any patent licensed under this Agreement, the knowledgeable party will provide the other (i) with written notice of such infringement and (ii) with any evidence of such
infringement available to it (the “Infringement Notice”). During the period in which, and in the jurisdiction where, the Licensee has exclusive rights under this Agreement, neither The Regents nor the Licensee will [ * ] or [ * ] without
first obtaining consent of the other. If [ * ] without first obtaining the written consent of [ * ] and if [ * ], then [ * ] to [ * ] under [ * ] will [ * ] without the [ * ] to provide [ * ]. Both The Regents and the Licensee will use their
diligent efforts to cooperate with each other to terminate such infringement without litigation. 

  

	8.2	If infringing activity of potential commercial significance by the infringer has not been abated within [ * ] following the date the infringement Notice takes effect,
then the Licensee may institute suit for patent infringement against the infringer. The Regents may voluntarily join such suit at its own expense, but may not thereafter commence suit against the infringer for the acts of infringement that are the
subject of the Licensee’s suit or any judgment rendered in the suit. The Licensee may not join The Regents in a suit initiated by Licensee without [ * ]. If, in a suit initiated by the Licensee, The Regents is involuntarily joined other than by
the Licensee, then the Licensee will pay any costs incurred by The Regents arising out of such suit, including but not limited to, any legal fees of counsel that The Regents selects and retains to represent it in the suit. 

 

	8.3	If, within [ * ] days following the date the Infringement Notice takes effect, infringing activity of potential commercial significance by the infringer has not been
abated and if the Licensee has not brought suit against the infringer, then The Regents may institute such suit for patent infringement against the infringer. If The Regents institutes such suit, then the Licensee may not join such suit without The
Regents consent and may not thereafter commence suit against the infringer for acts of infringement that are subject to The Regents suit or any judgment rendered in that suit. 

 

	8.4	Any recovery or settlement received in connection with any suit will first be shared by The Regents and the Licensee equally to cover any litigation costs each incurred
and next shall be paid to The Regents or the Licensee to cover any litigation costs it incurred in excess of the litigation costs of the other. In any suit initiated by the Licensee, any recovery in excess of litigation costs will be shared between
Licensee and The Regents as follows: [ * ]. In any suit initiated by The Regents, any recovery in excess of litigation costs will [ * ]. The Regents and the Licensee agree to be bound by all determinations of patent infringement, validity and
enforceability but no other issue) resolved by any adjudicated judgment in a suit brought in compliance with this Article 8 (Patent Infringement). 

  

	8.5	Any agreement made by the Licensee for purposes of settling litigation or other dispute shall comply with the requirements of Article 3 (Sublicenses) of this Agreement.

  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 11. 

	8.6	Each party will cooperate with the other in litigation proceedings instituted hereunder but at the expense of the party who initiated the suit (unless such suit is
being jointly prosecuted by the parties). 

  

	8.7	Any litigation proceedings will be controlled by the party bringing the suit, except that The Regents may be represented by counsel of its choice in any suit brought by
the Licensee. 

 9. PROGRESS AND ROYALTY REPORTS 

 

	9.1	Beginning [ * ], Licensee must submit to The Regents [ * ] progress reports covering Licensee’s activities related to the development and testing of all Licensed
Products and the obtaining of the governmental approvals necessary for marketing. These progress reports must be made for each Licensed Product until its First Commercial Sale. 

 

	9.2	The progress reports submitted under Paragraph 9.1 must include the following topics: 

 

	 	9.2a	Summary of work completed. 

  

	 	9.2b	Key scientific discoveries. 

  

	 	9.2c	Summary of work in progress. 

  

	 	9.2d	Current schedule of anticipated events or milestones. 

  

	 	9.2e	Market plans for introduction of Licensed Products. 

  

	 	9.2f	A summary of resources (dollar value) spent in the reporting period. 

  

	9.3	Licensee must notify The Regents if Licensee or any of its Sublicensees or Affiliates ceases to be a small entity (as defined by the United States Patent and Trademark
Office) under the provisions of 35 U.S.C. §41(h). 

  

	9.4	Licensee must report the date of the First Commercial Sale in the royalty report immediately following that Sale. 

 

	9.5	After the First Commercial Sale of each Licensed Product, Licensee must make [ * ] royalty reports to The Regents by [ * ] of each year (i.e., within [ * ] from the end
of each calendar [ * ]). Each royalty report must cover Licensee’s most recently completed calendar [ * ] and must show: 

  

	 	9.5a	Gross sales and Net Sales of any Licensed Product. 

  

	 	9.5b	Number of each type of Licensed. Product sold. 

  

	 	9.5c	Royalties payable to The Regents. 

  

	9.6	Licensee must state in its royalty report if it had no sales of any Licensed Product. 

10. BOOKS AND RECORDS 
  

	10.1	Licensee must keep accurate books and records of all Licensed Products manufactured, used or sold. Licensee must preserve these books and records for at least [ * ]
years from the date of the royalty payment to which they pertain. 

  

	10.2	The Regents’ representatives or agents are entitled to inspect these books and records at reasonable times. The Regents will pay the fees and expenses of these
inspections. If an error favoring Licensee of more than [ * ]% of the total annual royalties is discovered, then Licensee will pay the fees and expenses of these inspections. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 12. 

 11. LIFE OF THE AGREEMENT 

 

	11.1	Unless otherwise terminated by operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement is in force from the Effective
Date recited on page one and remains in effect for the life of the last-to-expire patent in Regents’ Patent Rights, or until the last patent application licensed under this Agreement is abandoned and no patent in Regents’ Patent Rights
ever issues. 

  

	11.2	Upon termination of this Agreement, Licensee will have no further right to make, have made, use or sell any Licensed Product except as provided in Article 14
(Disposition of Licensed Products on Hand. Upon Termination). 

  

	11.3	Any expiration or termination of this Agreement will not affect the rights and obligations set forth in the following Articles: 

 

			
	Article 1	  	Definitions
		
	Article 4	  	Fees (Paragraph 4.1 only — license issue fee)
		
	Article 5	  	Royalties (except Paragraph 5.2)
		
	Article 7	  	Patent Filing, Prosecution and Maintenance (Paragraphs 7.2 and 7.5 only)
		
	Article 10	  	Books and Records
		
	Article 11	  	Life of the Agreement
		
	Article 14	  	Disposition of Licensed Products on Hand upon Termination
		
	Article 16	  	Use of Names and Trademarks
		
	Article 17	  	Limited Warranty
		
	Article 18	  	Indemnification
		
	Article 19	  	Notices
		
	Article 21	  	Late Payments
		
	Article 23	  	Failure to Perform
		
	Article 24	  	Governing Law
		
	Article 29	  	Confidentiality
		
	Article 30	  	HHMI Third Party Beneficiary Status

 12.
TERMINATION BY THE REGENTS 
  

	12.1	If Licensee violates or fails to perform any material term or covenant of this Agreement, then The Regents may give written notice of the default (“Notice of
Default”) to Licensee. If Licensee does not repair the default within [ * ] after the effective date of the Notice of Default, then The Regents has the right to terminate this Agreement and the License by a second written notice (“Notice
of Termination”) to Licensee. If The Regents sends a Notice of Termination to Licensee, then this Agreement automatically terminates on the effective date of this notice. Termination does not relieve Licensee of its obligation to pay any
royalty or fees owing at the time of termination and does not impair any accrued right of The Regents. 

 13.
TERMINATION BY LICENSEE 
  

	13.1	Licensee has the right at any time to terminate this Agreement in whole or with respect to any portion of Regents’ Patent Rights by giving written notice to The
Regents. This notice of termination will be subject to Article 19 (Notices) and will be effective [ * ] after the effective date of the notice. 

  

	13.2	Any termination in accordance with Paragraph 13.1 does not relieve Licensee of any obligation or liability accrued prior to termination. Nor does termination rescind
anything done by Licensee or any payments made to The Regents prior to the effective date of termination. Termination does not affect in any manner any rights of The Regents arising under this Agreement prior to tee 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 13. 

 14. DISPOSITION OF LICENSED PRODUCTS 

ON HAND UPON TERMINATION 
  

	14.1	Upon termination of this Agreement, Licensee will have the right to dispose of all previously made or partially made Licensed Products, but no more, within a period of
[ * ]. But Licensee must submit royalty reports on the sale of these Licensed Products and must pay royalties at the rate and at the time provided in this Agreement. 

15. PATENT MARKING 
  

	15.1	Licensee must mark all Licensed Products made, used or sold under the terms of this Agreement, or their containers, in accordance with the applicable patent marking
laws. 

 16. USE OF NAMES AND TRADEMARKS 

 

	16.1	Neither party is permitted to use any name, trade name, trademark or other designation of the other party or its employees (including contraction, abbreviation or
simulation of any of the foregoing) in advertising, publicity or other promotional activity. Unless required by law, Licensee is expressly prohibited from using the name “The Regents of the University of California” or the name of any
campus of the University of California. 

  

	16.2	Licensee may not use the name of HHMI or of any HHMI employee (including [ * ]) in a manner that reasonably could constitute an endorsement of a commercial product or
service; but that use for other purposes, even if commercially motivated, is permitted provided that (a) the use is limited to accurately reporting factual events or occurrences, and (b) any reference to the name of HHMI or any HHMI
employees in press releases or similar materials intended for public release is approved by HHMI in advance. 

17. LIMITED WARRANTY 
  

	17.1	The Regents warrants that it has the lawful right to grant this license to Licensee. 

 

	17.2	This License and the associated Invention are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR
IMPLIED. THE REGENTS MAKE NO REPRESENTATION OR WARRANTY THAT ANY LICENSED PRODUCT WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

  

	17.3	IN NO EVENT WILL THE REGENTS BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTION OR
LICENSED PRODUCTS OR THE USE OR THE PRACTICE OF LICENSED METHODS. 

  

	17.4	Nothing in this Agreement will be construed as: 

  

	 	17.4a	A warranty or representation by The Regents as to the validity or scope of any Regents’ Patent Rights. 

 

	 	17.4b	A warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or will be free from infringement of
patents of third parties. 

  
 [ * ] = Certain
confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 14. 

	 	17.4c	An obligation on The Regents to bring or prosecute actions or suits against third parties for patent infringement except as provided in Article 8 (Patent Infringement).

  

	 	17.4d	Conferring by implication, estoppel or otherwise any license or rights under any patents of The Regents other than Regents’ Patent Rights as defined herein,
regardless of whether such patents are dominant or subordinate to Regents’ Patent Rights. 

  

	 	17.4e	An obligation on The Regents to furnish any know-how not provided in Regents’ Patent Rights. 

18. INDEMNIFICATION 
  

	18.1	Licensee will, and will require its Sublicensees to, indemnify, hold harmless, and defend The Regents, the sponsors of the research that led to the Invention, and the
inventors of any invention claimed in patents or patent applications under Regents’ Patent Rights (including the Licensed Products and Licensed Methods contemplated hereunder) and their employers, and the officers, employees, and agents of any
of the foregoing, against any and all claims, suits, losses, damages, costs, fees, and expenses resulting from, or arising out of the exercise of this license or any sublicense. This indemnification will include, but will not be limited to, any
product liability. If The Regents, in its sole discretion, believes that there will be a conflict of interest or it will not otherwise be adequately represented by counsel chosen by Licensee to defend The Regents in accordance with this Paragraph
18.1, then The Regents may retain counsel of its choice to represent it, and Licensee will pay all expenses for such representation. 

  

	18.2	HHMI and its trustees, officers, employees, and agents (collectively, “HHMI Indemnitees”) will be indemnified, defended by counsel acceptable to HHMI, and
held harmless by Licensee and its Sublicensees from and against any claim, liability, cost, expense, damage, deficiency, loss, or obligation of any kind or nature (including, without limitation, reasonable attorneys’ fees and other costs and
expenses of defense) based on, resulting from, arising out of or otherwise relating to this Agreement or any sublicense agreement, or the exercise of this license or any sublicense, including without limitation any cause of action relating to
product liability (collectively, “Claims”). The previous sentence will not apply to any Claim that is determined with finality by a court of competent jurisdiction to result solely from the gross negligence or willful misconduct of an HHMI
Indemnitee. For clarity, acts conducted under the retained rights and licenses set forth in Paragraph 2.2 and 2.3 above are not subject to this indemnification obligation of Licensee or any Sublicensee. If HHMI, in its sole discretion, believes that
there will be a conflict of interest or it will not otherwise be adequately represented by counsel chosen by Licensee to defend the HHMI Indemnitiees in accordance with this Paragraph 18.2, then HHMI may retain counsel of its choice to represent the
HHMI Indemnitees, and Licensee will pay all expenses for such representation. 

  

	18.3	Licensee, at its sole cost and expense, must insure its activities in connection with the work under this Agreement and obtain, keep in force and maintain the following
insurance: 

  

	 	18.3a	Upon execution of this Agreement, Comprehensive or Commercial Form General Liability Insurance (contractual liability included) with limits as follows:

  

					
	 Each occurrence
	  	$	[ * 	]. 
	 Products/completed operations aggregate
	  	 	[ * 	]. 
	 Personal and advertising injury
	  	$	[ * 	]. 
	 General aggregate (commercial form only)
	  	$	[ * 	]. 

 If the above insurance
is written on a claims-made form, it shall continue for [ * ] following termination or expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of this Agreement; and

  
 [ * ] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 15. 

	 	18.3b	Prior to [ * ], Comprehensive or Commercial Form General Liability Insurance (contractual liability included) with limits as follows: 

 

					
	 Each occurrence
	  	$	[ * 	]. 
	 Products/completed operations aggregate
	  	$	[ * 	]. 
	 Personal and advertising injury
	  	$	[ * 	]. 
	 General aggregate (commercial form only)
	  	$	[ * 	]. 

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

	 	18.3c	Worker’s Compensation as legally required in the jurisdiction in which Licensee is doing business. 

 

	18.4	Licensee expressly understands, however, that the coverages and limits in Paragraphs 18.3a and 18.3b do not in any way limit Licensee’s liability under this
Article. Licensee must furnish The Regents with certificates of insurance evidencing compliance with all requirements. Licensee’s insurance must: 

  

	 	18.4a	Provide for [ * ] ([ * ] for non-payment of premium) advance written notice to The Regents of any cancellation of insurance coverages; Licensee will promptly notify The
Regents of any material modification of the insurance coverages. 

  

	 	18.4b	Indicate that The Regents of the University of California and HHMI have been endorsed as additional insureds under the coverages listed in Paragraph 18.3.

  

	 	18.4c	Include a provision that the coverages will be primary and will not participate with, nor will be excess over, any valid and collective insurance or program of
self-insurance carried or maintained by The Regents or 

  

	18.5	The Regents will promptly notify Licensee in writing of any claim or suit brought against The Regents for which The Regents intends to invoke the provisions of this
Article 18 (Indemnification). Licensee will keep The Regents informed on a current basis of its defense of any claims pursuant to this Article 18 (Indemnification). In the case of an HHMI Indemnitee, notice shall be given reasonably promptly
following actual receipt of written notice thereof by an officer or attorney of HHMI. Notwithstanding the foregoing, the delay or failure of an HHMI Indemnitee to give prompt notice to Licensee of any Claim shall not affect the rights of such HHMI
Indemnitee unless, and then only to the extent that, such delay or failure is prejudicial to or otherwise adversely affects Licensee. Licensee will keep HHMI informed of its defense of any Claims pursuant to this Article 18 (Indemnification).

 19. NOTICES 
  

	19.1	Any notice or payment required to be given to either party must be sent to the respective address given below and is effective: (a) on the date of delivery if
delivered in person, (b) five days after mailing if mailed by first-class certified mail, postage paid, or (c) on the next business day if sent by overnight delivery. Either party may change its designated address by written notice.

  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 16. 

			
	For Licensee:	  	 Medivation Prostate Therapeutics, Inc.

501 Second Street, Suite 211
 San Francisco, CA
94107
  
 Attention: Chief Financial Officer

		
	For The Regents:	  	 The Regents of the University of California

University of California, Los Angeles
 Office of
Intellectual Property Administration
 10920 Wilshire Blvd., Suite 1200

Los Angeles, California 90095-1406
  

Attention: Director

20. ASSIGNABILITY 
  

	20.1	This Agreement is binding upon and inures to the benefit of The Regents, its successors and assigns. But it is personal to Licensee and assignable by Licensee only with
the written consent of The Regents. The consent of The Regents will not be required if the assignment is in conjunction with the transfer of all or substantially all of the business of Licensee to which this license relates.

 21. LATE PAYMENTS 
  

	21.1	For each royalty payment or fee not received by The Regents when due, Licensee must pay to The Regents a simple interest charge of [ * ]% per annum to be calculated
from the date payment was due until it was actually received by The Regents. 

 22. WAIVER 

 

	22.1	The waiver of any breach of any term of this Agreement does not waive any other breach of that or any other term. 

23. FAILURE TO PERFORM 
  

	23.1	If either party takes legal action against the other because of a failure of performance due under this Agreement, then the prevailing party is entitled to reasonable
attorney’s fees in addition to costs and necessary disbursements. 

 24. GOVERNING LAW 

 

	24.1	THIS AGREEMENT IS TO BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, but the scope and validity of any patent or patent application
will be governed by the applicable laws of the country of the patent or patent application. Any legal action brought by the parties hereto relating to this Agreement will be conducted in San Francisco, California. 

25. GOVERNMENT APPROVAL OR REGISTRATION 
  

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

  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 17. 

 26. EXPORT CONTROL LAWS 

 

	26.1	Licensee must observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries,
including the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. 

 27.
PREFERENCE FOR UNITED STATES INDUSTRY 
  

	27.1	Because this Agreement grants an exclusive right to a particular use of the Invention, Licensee must manufacture in the United States any products embodying this
Invention or produced through the Invention’s use to the extent required by 35 U.S.C. §201-212. 

 28.
FORCE MAJEURE 
  

	28.1	The parties will be excused from any performance required under this Agreement if performance is impossible or unfeasible due to any catastrophe or other major event
beyond their reasonable control, including war, riot, or insurrection; lockouts or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events abate, and in any event within one year, the parties’
respective obligations will resume. 

 29. CONFIDENTIALITY 

 

	29.1	If either party discloses confidential infatuation to the other party, the disclosing party will designate this information as confidential by appropriate legend or
instruction, and the receiving party will: 

  

	 	29.1a	Use the same degree of care to maintain the secrecy of the confidential information as it uses to maintain the secrecy of its own information of like kind.

  

	 	29.1b	Use the confidential information only to accomplish the purposes of this Agreement. 

Subject to the exclusions provided in Paragraphs 29.3 and 29.5, without limiting the generality of the foregoing, it is acknowledged and
agreed that all progress and royalty reports delivered under Article 9 (Progress and Royalty Reports) constitute confidential information of Licensee. 
  

	29.2	Neither party will disclose confidential information received from the other party except to its Board of Directors, employees, customers, distributors and other agents
who are bound to it by similar obligations of confidence. 

  

	29.3	Neither party will have any confidentiality obligation with respect to the confidential information belonging to or disclosed by the other party that:

  

	 	29.3a	The receiving party can demonstrate by written records was previously known to it. 

 

	 	29.3b	The receiving party lawfully obtained from sources under no obligation of confidentiality. 

 

	 	29.3c	Is or becomes publicly available other than through an act or omission of the receiving party or any of its employees. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 18. 

	 	29.3d	Is required to be disclosed under the California Public Records Act, governmental audit or other requirement of law. 

 

	29.4	The provisions of this Article 29 will continue in effect for [ * ] after expiration or termination of this Agreement. 

 

	29.5	Notwithstanding anything to the contrary contained in this Agreement, The Regents may release this Agreement or any Sublicense, including any terms thereof, and
information regarding royalty payments or other income received in connection with this Agreement to the inventors, senior administrative officials employed by The Regents, and individual Regents and to the senior administrative officials employed
by HHMI and individual trustees of HHMI upon their request. If such release is made, The Regents will request that such terms be kept in confidence in accordance with the provisions of this Article 29. If a third party inquires whether a license to
Regents’ Patent Rights is available, then The Regents may disclose the existence of this Agreement and the extent of the grant in Article 2 (Grant) to such third party, but will not disclose the name of Licensee or any other terms or conditions
of this Agreement, except where The Regents is required to release information under the California Public Records Act, a governmental audit requirement, or other applicable law. 

30. HHMI THIRD-PARTY BENEFICIARY STATUS 
  

	30.1	HHMI is not a party to this Agreement and has no liability to Licensee, any Sublicensee, or user of anything covered by this Agreement, but HHMI is an intended
third-party beneficiary of this Agreement and certain of its provisions are for the benefit of HHMI and are enforceable by HHMI in its own name. 

31. MISCELLANEOUS 
  

	31.1	The headings of the several sections are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of,
this Agreement. 

  

	31.2	This Agreement is not binding upon the parties until it has been signed below on behalf of each party, in which event it becomes effective as of the date recited on
page one. 

  

	31.3	No amendment or modification of this Agreement will be valid or binding upon the parties unless made in writing and signed by each party. 

 

	31.4	This Agreement embodies the entire understanding of the parties and supersedes all previous communications, representations or understandings, either oral or written,
between the parties relating to the subject matter hereof, except for the Secrecy Agreement dated [ * ] by and between The Regents and Licensee, which shall survive; provided, however, that in the case of any conflict between the provisions of the
Secrecy Agreement and this Agreement, this Agreement shall govern. 

  

	31.5	If any part of this Agreement is for any reason found to be unenforceable, all other parts nevertheless remain enforceable as long as a party’s rights under this
Agreement are not materially affected. In lieu of the unenforceable provision, the parties will substitute or add as part of this Agreement a provision that will be as similar as possible in economic and business objectives as was intended by the
unenforceable provision. 

  
 [ * ] = Certain
confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 19. 

 Both The Regents and Licensee have executed this Agreement in duplicate originals by their authorized
officers on the dates written below: 
  

							
	MEDIVATION, INC.	    	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By	 	 /s/ C. Patrick Machado
	    	By	 	 /s/ Claire T. Wake

				
	Name	 	C. Patrick Machado	    	Name	 	Claire T. Wake
	Title	 	Senior Vice President and CFO	    	Title	 	Assistant Director
	Date	 	August 12, 2005	    	Date	 	August 15, 2005
		 		    		 	
	MEDIVATION PROSTATE THERAPEUTICS, INC.	 	
				
	By	 	 /s/ C. Patrick Machado
	    		 	
				
	Name	 	C. Patrick Machado	    		 	
	Title	 	Senior Vice President and CFO	    		 	
	Date	 	August 12, 2005	    		 	

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 20. 

 APPENDIX A 

REGENTS’ PATENT RIGHTS 

[ * ] 
  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 21. 

 FIRST AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

UC Agreement Control No. 2006-04-0085 

This First Amendment to Exclusive License Agreement (this “Amendment”), dated as of November 4, 2005, is made by
and among The Regents of the University of California, a California corporation (“The Regents”), Medivation, Inc., a Delaware corporation (“Medivation”), and Medivation Prostate Therapeutics, Inc., a Delaware
corporation and subsidiary of Medivation (“MPT”). 
 WHEREAS, The Regents, Medivation and MPT are parties to an
Exclusive License Agreement, dated as of August 12, 2005 (the “Exclusive License Agreement”); 
 WHEREAS,
The Regents, Medivation and MPT wish to strengthen the patent protection of certain members of the family of compounds covered in UC Case Nos. [ * ] and [ * ] by the filing of a patent application to cover additional [ * ] compounds, which are
disclosed in UC Case No [ * ] entitled “[ * ],” by [ * ], employees of The Regents, and [ * ], an employee of HHMI and a member of the faculty of the University of California, Los Angeles; 

WHEREAS, Medivation as the parent corporation of MPI will benefit directly from the agreements made herein; 

WHEREAS, the parties mutually intend to enter into this First Amendment to amend the terms of the Exclusive License Agreement, as
specified below. 
 THEREFORE, the parties hereby agree as follows: 

 

	1.	Paragraph 1.1 (“Regents’ Patent Rights”) is deleted and replaced with the following, which is amended to include “UC Case No. [ * ]” in
the parenthetical at the end of the paragraph: 

  

	 	1.1	“Regents’ Patent Rights” means The Regents interest in the claims of the United States patents and patent applications, corresponding foreign
patents and patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part applications that
are entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos [ * ] and [ * ]). 

 

	2.	Appendix A (Regents’ Patent Rights) is deleted and replaced with the Appendix A attached to this First Amendment, which is amended to include the patent
application to be filed under UC Case No. [ * ] 

  

	3.	Paragraph 2.1 is deleted and replaced with the following, which is amended to delete “Licensee” and replace it with “MPT.” The effect of this
Amendment is that MPT is the sole recipient of the license granted pursuant to Paragraph 2.1. Notwithstanding this amendment, it is expressly understood that all other references to “Licensee” in the Exclusive License Agreement, including
without limitation in Article 18 thereof (Indemnification), shall refer to Medivation and MPT collectively. 

  

	 	2.1	Subject to the limitations set forth in this Agreement, including the licenses granted to the United States Government and those reserved by HHMI set forth in the
recitals and in Paragraph 2.2 and the rights reserved by The Regents in Paragraph 2.3, The Regents hereby grants to MPT an exclusive license (the “License”) under Regents’ Patent Rights, in jurisdictions where Regents’ Patent
Rights exist, to make, have made, use, sell, offer for sale and import Licensed Products and to practice Licensed Methods in the Field of Use to the extent permitted by law. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 1. 

	4.	Except for the amendments specifically referenced above, all other terms of the Exclusive License Agreement shall remain unchanged and in full force and effect.

 The Regents, Medivation and MPT have executed this Amendment in duplicate originals by their authorized officers on the dates
written below: 
  

							
	MEDIVATION, INC.	    	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By	 	 /s/ C. Patrick Machado
	    	By	 	 /s/ Claire T. Wake

				
	Name	 	C. Patrick Machado	    	Name	 	Claire T. Wake, Ph.D.
	Title	 	Senior Vice President and CFO	    	Title	 	Assistant Director, Licensing
	Date	 	November 4, 2005	    	Date	 	November 4, 2005
		 		    		 	
	MEDIVATION PROSTATE THERAPEUTICS, INC.	 	
				
	By	 	 /s/ C. Patrick Machado
	    		 	
				
	Name	 	C. Patrick Machado	    		 	
	Title	 	Senior Vice President and CFO	    		 	
	Date	 	November 4, 2005	    		 	

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 2. 

 APPENDIX A 

(First Amendment) 

REGENTS’ PATENT RIGHTS 

[ * ] 
  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 3. 

 SECOND AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

UC Agreement Control No. 2006-04-0085 

This Second Amendment to Exclusive License Agreement (“Second Amendment”), dated as of May 8, 2006, is made by and among The
Regents of the University of California, a California corporation (“The Regents”), Medivation, Inc., a Delaware corporation (“Medivation”), and Medivation Prostate Therapeutics, Inc., a Delaware corporation and
subsidiary of Medivation (“MPT”). 
 WHEREAS, The Regents, Medivation and MPT are parties to an Exclusive License Agreement,
dated as of August 12, 2005 (the “Exclusive License Agreement”); 
 WHEREAS, Medivation has been supporting research in [
* ]’s laboratory at UCLA under a Sponsored Research Agreement with an Effective Date of [ * ] (the “Sponsored Research Agreement”); 

WHEREAS, an invention has been developed at UCLA in the performance of the Sponsored Research Agreement, which is disclosed in UC Case No [ * ] entitled
“[ * ],” by [ * ], employees of The Regents, [ * ], an employee of Howard Hughes Medical Institute (“HHMI”) and a member of the faculty of the University of California, Los Angeles, and [ * ], an employee of HHMI;

 WHEREAS, the Sponsored Research Agreement grants Medivation the first right to negotiate for a license to inventions made by The Regents in
the performance of the Sponsored Research Agreement, and Medivation has exercised its right and wishes to obtain an exclusive license to the invention noted in the preceding WHEREAS clause; 

WHEREAS, Medivation as the parent corporation of MPT will benefit directly from the agreements made herein; and 

WHEREAS, the parties mutually intend to enter into this Second Amendment to amend the terms of the Exclusive License Agreement, as specified below.

 THEREFORE, the parties hereby agree as follows: 
  

	1.	Paragraph 1.1 (“Regents’ Patent Rights”) is deleted and replaced with the following, which is amended to include “UC Case No. [ * ]” in
the parenthetical at the end of the paragraph: 

  

	 	1.1	“Regents’ Patent Rights” means The Regents interest in the claims of the United States patents and patent applications, corresponding foreign
patents and patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part applications that
are entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos. [ * ] and [ * ]). 

 

	2.	Appendix A (Regents’ Patent Rights) is deleted and replaced with the Appendix A attached to this First Amendment, which is amended to include the patent
application filed under UC Case No. [ * ]. 

  

	3.	In consideration for the addition of UC Case No. [ * ] to the Exclusive License Agreement, Medivation will pay to The Regents a fee of [ * ] dollars ($[ * ]) within [ *
] of the Effective Date of this Second Amendment. 

  

	4.	Except for the amendments specifically referenced above, all other terms of the Exclusive License Agreement shall remain unchanged and in full force and effect.

  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 1. 

 The Regents, Medivation and MPT have executed this Amendment in duplicate originals by their authorized
officers on the dates written below: 
  

							
	MEDIVATION, INC.	    	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By	 	 /s/ C. Patrick Machado
	    	By	 	 /s/ Claire T. Wake

				
	Name	 	C. Patrick Machado	    	Name	 	Claire T. Wake, Ph.D.
	Title	 	Senior Vice President and CFO	    	Title	 	Assistant Director, Licensing
				
	Date	 	May 8, 2006	    	Date	 	May 16, 2006
		 		    		 	
	MEDIVATION PROSTATE THERAPEUTICS, INC.	 	
				
	By	 	 /s/ C. Patrick Machado
	    		 	
				
	Name	 	C. Patrick Machado	    		 	
	Title	 	Senior Vice President and CFO	    		 	
				
	Date	 	May 8, 2006	    		 	

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 2. 

 APPENDIX A 

(Second Amendment) 

REGENTS’ PATENT RIGHTS 

[ * ] 
  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 3. 

 THIRD AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

UC Agreement Control No. 2006-04-0085 

This Third Amendment to Exclusive License Agreement (“Third Amendment”), dated as of June 12, 2006, is made by and among The
Regents of the University of California, a California corporation (“The Regents”), Medivation, Inc., a Delaware corporation (“Medivation”), and Medivation Prostate Therapeutics, Inc., a Delaware corporation and
subsidiary of Medivation (“MPT”) (Medivation and MPT together “Licensee”). 
 BACKGROUND

  

	A.	The Regents, Medivation and MPT are parties to an Exclusive License Agreement, dated as of August 12, 2005 (the “Exclusive License Agreement”), as
amended on November 4, 2005 and May 8, 2006. 

  

	B.	The Regents and MPT are parties to a Nonexclusive Bailment and License Agreement dated [ * ] (the “Nonexclusive Bailment”) that grants to MPT limited
rights in a certain Field of Use to patent rights generally characterized as “[ * ]” (UCLA Case No. [ * ]), which was made in the course of research at the University of California, Los Angeles by [ * ], employees of The Regents. MPT now
wishes to obtain broader nonexclusive rights to these patent rights in [ * ] and exclusive rights to these patent rights in certain countries and regions outside [ * ] in a different field of use. The Regents is willing to grant such rights. This
Third Amendment is not intended to change the scope of rights granted under the Nonexclusive Bailment. 

  

	C.	Medivation as the parent corporation of MPT will benefit directly from the agreements made herein. 

 

	D.	The parties mutually intend to enter into this Third Amendment to amend the terms of the Exclusive License Agreement, as specified below. 

THEREFORE, the parties hereby agree as follows: 
  

	1.	Paragraph 1.1 (“Regents’ Patent Rights”) is deleted and replaced with the following, which is amended to include “UC Case No. [ * ]” in
the parenthetical at the end of the paragraph: 

  

	 	1.1	“Regents’ Patent Rights” means The Regents’ interest in the claims of the United States patents and patent applications, corresponding
foreign patents and patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part
applications that are entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos., [ * ] and [ * ]) 

 

	2.	Paragraph 2.1 is deleted and replaced with the following, which is amended to grant nonexclusive rights in the United States and exclusive rights outside the United
States to the patent rights covered by UC Case No [ * ]: 

  

	 	2.1	Subject to the limitations set forth in this Agreement, including the licenses granted to the United States Government and those reserved by HHMI set forth in the
recitals and in Paragraph 2.2 and the rights reserved by The Regents in Paragraph 2.3, The Regents hereby grants to MPT an exclusive license (the “License”) under Regents’ Patent Rights, in jurisdictions where Regents’
Patent Rights exist, to make, have made, use, sell, offer for sale and import Licensed Products and to practice Licensed Methods in the Field of Use to the extent permitted by law; provided, however, that as to UC Case No. [ * ] only, the License
shall be exclusive only in [ * ], and shall be non-exclusive in [ * ]. 

  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 1. 

	3.	Appendix A (Regents’ Patent Rights) is deleted and replaced with the Appendix A attached to this Third Amendment, which is amended to include the patent
applications to be filed under UC Case No. [ * ] in [ * ] and [ * ]. 

  

	4.	In consideration for the addition of the patent rights of UC Case No. [ * ] to the Exclusive License Agreement, Licensee will pay to The Regents a fee of [ * ] dollars
($[ * ]) within [ * ] of the Effective Date of this Third Amendment. In addition, Licensee will pay a one-time milestone fee of [ * ] dollars ($[ * ]) upon [ * ] in [ * ] that would [ * ]. 

 

	5.	Article 7 (Patent Filing, Prosecution and Maintenance) is amended to include a new Paragraph 7.7: 

 

	 	7.7	Notwithstanding the foregoing provisions in this Article 7, Licensee is not obligated to reimburse costs incurred prior to and during the term of this Agreement in the
preparation, filing, prosecution and maintenance of patent applications and patents pertaining to [ * ] patent rights of UC Case No. [ * ] within Regents’ Patent Rights. Further, The Regents has no obligation to prosecute or maintain [ * ]
patent rights of UC Case No. [ * ] within Regents’ Patent Rights. If The Regents elects to abandon [ * ] patent rights of UC Case No. [ * ] within Regents’ Patent Rights, then the consideration due to The Regents under this Agreement shall
remain the same. 

  

	6.	Except for the amendments specifically referenced above, all other terms of the Exclusive License Agreement shall remain unchanged and in full force and effect.

 The Regents, Medivation and MPT have executed this Amendment in duplicate originals by their authorized officers on the dates
written below: 
  

							
	MEDIVATION, INC.	    	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By	 	 /s/ C. Patrick Machado
	    	By	 	 /s/ Claire T. Wake

				
	Name	 	C. Patrick Machado	    	Name	 	Claire T. Wake, Ph.D.
	Title	 	Senior Vice President and CFO	    	Title	 	Assistant Director, Licensing
	Date	 	June 10, 2006	    	Date	 	June 13, 2006
		
	MEDIVATION PROSTATE THERAPEUTICS, INC.	 	
				
	By	 	 /s/ C. Patrick Machado
	    		 	
				
	Name	 	C. Patrick Machado	    		 	
	Title	 	Senior Vice President and CFO	    		 	
	Date	 	June 10, 2006	    		 	

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 2. 

 APPENDIX A 

(Third Amendment) 

REGENTS’ PATENT RIGHTS 

[ * ] 
  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 3. 

 FOURTH AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

UC Agreement Control No. 2006-04-0085 

This Fourth Amendment to Exclusive License Agreement (“Fourth Amendment”), dated as of July 17, 2007, is made by and among The
Regents of the University of California, a California corporation (“The Regents”), Medivation, Inc., a Delaware corporation (“Medivation”), and Medivation Prostate Therapeutics, Inc., a Delaware corporation and
subsidiary of Medivation (“MPT”) (Medivation and MPT together “Licensee”) 
 BACKGROUND 

  

	A.	The Regents, Medivation and MPT are parties to an Exclusive License Agreement, dated as of August 12, 2005 (the “Exclusive License Agreement”), as
amended on November 4, 2005, May 8, 2006 and June 12, 2007. 

  

	B.	Medivation has supported research in [ * ]’s laboratory at UCLA under a Sponsored Research Agreement with an Effective Date of [ * ] (the “Sponsored
Research Agreement”). 

  

	C.	An invention has been developed at UCLA in the performance of the Sponsored Research Agreement, which is disclosed in UC Case No [ * ] entitled “[ * ],” by [
* ], employees of The Regents, [ * ], an employee of Howard Hughes Medical Institute (“HHMI”) and a member of the faculty of the University of California, Los Angeles at the time the invention was made, and [ * ], an employee of
HHMI at the time the invention was made. 

  

	D.	The Sponsored Research Agreement grants Medivation the first right to negotiate for a license to inventions made by The Regents in the performance of the Sponsored
Research Agreement, and Medivation has exercised its right and wishes to obtain an exclusive license to the invention noted in the preceding clause. 

  

	E.	Medivation as the parent corporation of MPT will benefit directly from the agreements made herein. 

 

	F.	The parties mutually intend to enter into this Fourth Amendment to amend the terms of the Exclusive License Agreement, as specified below. 

THEREFORE, the parties hereby agree as follows: 
  

	1.	Paragraph 1.1 (“Regents’ Patent Rights”) is deleted and replaced with the following, which is amended to include “UC Case No. [ *
]” in the parenthetical at the end of the paragraph: 

  

	 	1.1	“Regents’ Patent Rights” means The Regents’ interest in the claims of the United States patents and patent applications, corresponding
foreign patents and patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part
applications that are entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos. [ * ] and [ * ]) 

 

	2.	Appendix A (Regents’ Patent Rights) is deleted and replaced with the Appendix A attached to this Fourth Amendment, which is amended to include the patent
applications to be filed under UC Case No. [ * ]. 

  

	3.	In consideration for the addition of the patent rights of UC Case No. [ * ] to the Exclusive License Agreement, Licensee will pay to The Regents a fee of [ * ] dollars
($[ * ]) within [ * ] of the Effective Date of this Fourth Amendment. In addition, Licensee will pay a one-time milestone fee of [ * ] dollars ($[ * ]) upon [ * ] that would [ * ]. 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 1. 

	4.	Except for the amendments specifically referenced above, all other terms of the Exclusive License Agreement shall remain unchanged and in full force and effect.

 The Regents, Medivation and MPT have executed this Amendment in duplicate originals by their authorized officers on the dates
written below: 
  

							
	MEDIVATION, INC.	    	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By	 	 /s/ C. Patrick Machado
	    	By	 	 /s/ Claire T. Wake

				
	Name	 	C. Patrick Machado	    	Name	 	Claire T. Wake, Ph.D.
	Title	 	Senior Vice President and CFO	    	Title	 	Assistant Director, Licensing
				
	Date	 	August 8, 2007	    	Date	 	July 17, 2007
		
	MEDIVATION PROSTATE THERAPEUTICS, INC.	 	
				
	By	 	 /s/ C. Patrick Machado
	    		 	
				
	Name	 	C. Patrick Machado	    		 	
	Title	 	Senior Vice President and CFO	    		 	
				
	Date	 	August 8, 2007	    		 	

  
 [ * ] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 2. 

 APPENDIX A 

(Fourth Amendment) 

REGENTS’ PATENT RIGHTS 

[ * ] 
  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 3. 

 FIFTH AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

UC Agreement Control No. 2006-04-0085 

This Fifth Amendment to Exclusive License Agreement (“Fifth Amendment”), dated as of October 21, 2009, is made by and among The
Regents of the University of California, a California corporation (“The Regents”), Medivation, Inc., a Delaware corporation (“Medivation”), and Medivation Prostate Therapeutics, Inc., a Delaware corporation and
subsidiary of Medivation (“MPT”) (Medivation and MPT together “Licensee”). 
 BACKGROUND

  

	A.	The Regents, Medivation and MPT are parties to an Exclusive License Agreement, dated as of August 12, 2005 (the “Exclusive License Agreement”), as
amended on November 4, 2005, May 8, 2006, June 12, 2006 and July 17, 2007. 

  

	B.	Medivation intends to grant an exclusive sublicense under the Exclusive License Agreement to the Designated Sublicensee (as defined in the Exclusive License Agreement
as amended below). 

  

	C.	The parties mutually intend to enter into this Fifth Amendment to amend the terms of the Exclusive License Agreement, as specified below. 

THEREFORE, the parties hereby agree as follows: 
  

	1.	Article 1 is amended by the addition of the following new Paragraphs 1.15, 1.16 and 1.17: 

 

	 	1.15	“Designated Sublicense” means the Sublicense granted by Licensee to the Designated Sublicensee. 

 

	 	1.16	“Designated Sublicense Agreement” means the agreement entered into by Licensee and the Designated Sublicensee pursuant to which the Designated
Sublicense is granted. 

  

	 	1.17	“Designated Sublicensee” means any Sublicensee that Licensee and The Regents agree in writing is a Designated Sublicensee for the purposes of this
Agreement. 

  

	2.	Article 3 (Sublicenses) is amended to include a new Paragraph 3.6: 

  

	 	3.6	If this Agreement is terminated for any reason other than (a) [ * ], or (b) [ * ], in all cases except (a) and (b), Paragraph 3.5 will not apply, and
instead this Paragraph 3.6 will apply: For as long as the Designated Sublicensee Agreement remains in effect, the Designated Sublicense will [ * ] and [ * ] on [ * ], and from and after the effective date of such termination with respect to
Licensee, the Designated Sublicensee will be deemed to have [ * ] and will become [ * ] all of [ * ] and [ * ] that arise as a result of [ * ] by [ * ] of such [ * ], including all [ * ]. 

 

	3.	Paragraphs 6.3d and 6.3e are deleted and replaced with the following: 

  

	 	6.3d	[ * ] a Licensed Product [ * ] by the [ * ] anniversary of the date of this Agreement. 

 

	 	6.3e	[ * ] of a Licensed Product by the [ * ] anniversary of the date of this Agreement. 

 

	4.	Article 7 (Patent Filing, Prosecution and Maintenance) is amended to include the following new Paragraph 7.8: 

 
 [ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 1. 

	 	7.8	The Regents represents that as of October 21, 2009, except as requested by Medivation in a notice provided pursuant to Paragraph 7.3, The Regents has not filed
patent applications claiming or covering the Invention or corresponding with the Regents’ Patent Rights in any foreign country, and that all of the foreign patents and patent applications claiming or covering the Invention or corresponding with
the Regents’ Patent Rights are subject to this Agreement (and are within the scope of the licenses and rights granted in Paragraphs 2.1 and 3.1). Notwithstanding the foregoing, no representation is made pursuant to this Section 7.8 with
respect Patent No. [ * ], which The Regents is [ * ] without [ * ]. 

  

	5.	The second sentence of Paragraph 8.1 is amended to include the following at the end of such sentence: 

. . . except that Licensee may [ * ] without consent of The Regents. 

 

	6.	Paragraph 8.2 is renumbered as Paragraph 8.2a. The third sentence of such Paragraph is deleted and replaced with the following: 

If joinder of The Regents is required by applicable law to perfect or maintain jurisdiction with respect to any such suit, then [ * ],
The Regents will join such suit, will consent to the jurisdiction of federal or state courts with respect to such suit, and will not oppose joinder in such suit, including on grounds of sovereign immunity. In the event of such required joinder,
Licensee will pay any costs incurred by The Regents arising out of such suit, including but not limited to, any legal fees of counsel that The Regents selects and retains to represent it in the suit. 

 

	7.	Article 8 (Patent Infringement) is amended to include the following new Paragraph 8.2b: 

 

	 	8.2b	Notwithstanding anything contained in this Article 8 to the contrary, if the Infringement Notice is predicated on the receipt of a notice of certification sent or filed
pursuant to the U.S. “Drug Price Competition and Patent Term Restoration Act” of 1984, including pursuant to 21 U.S.C. 355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV), or any equivalent or similar notice or certification in any foreign
jurisdiction, claiming that the patent is invalid or unenforceable or claiming that the patent will not be infringed by the Manufacture, use, marketing or sale of a product for which an application under the act is filed, then the Licensee may
institute suit within the applicable timeframe required by law and may, if required to perfect or maintain jurisdiction with respect to such suit, name The Regents as a co-plaintiff in such suit, [ * ]. In such circumstance, The Regents will use
best efforts to [ * ] within [ * ] of the Infringement Notice, and will notify Licensee no later than such [ * ]. Prior to initiating the suit, the Licensee will consult with The Regents to obtain its input with respect to the proposed suit, and
will consider such input in good faith. Without limitation to the foregoing and [ * ], The Regents agree to cooperate with respect to such suit if named as a co-plaintiff, including by participating as a party plaintiff in any such suit, joining in
such suit, consenting to the jurisdiction of federal or state courts, and not opposing joinder, including on grounds of sovereign immunity. The Regents may voluntarily join any such suit initiated solely by the Licensee at the Regents’ own
expense, but may not thereafter commence suit against the infringer for the acts of infringement that are the subject of the Licensee’s suit or any judgment rendered in the suit. If The Regents is named by the Licensee as a co-plaintiff in such
a suit pursuant to the first sentence of this Paragraph 8.2b, then the Licensee will pay any costs incurred by The Regents arising out of such suit, including but not limited to, any legal fees of counsel that The Regents selects and retains to
represent it in the suit. The Regents hereby acknowledges that the rights conferred on the Licensee pursuant to Paragraphs 8.1 and 8.2 may be exercised by a Sublicensee designated by the Licensee (including the Designated Sublicensee).

  
 [ * ] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 2. 

	8.	Article 30 is amended by the addition of the following new Paragraph 30.2: 

 

	 	30.2	The Designated Sublicensee is an intended third-party beneficiary of this Agreement and certain of its provisions, including Paragraph 3.6, are for the benefit of the
Designated Sublicensee and are enforceable by the Designated Sublicensee in its own name. 

  

	9.	Except for the amendments specifically referenced above, all other terms of the Exclusive License Agreement remain unchanged and in full force and effect.

 The Regents, Medivation and MPT have executed this Amendment in duplicate originals by their authorized officers on the dates
written below: 
  

			
	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
		
	By	 	 /s/ Claire T. Wake

		
	Name:	 	Claire T. Wake
	Title:	 	Assistant Director, Licensing
		
	Date:	 	October 21, 2009
	
	MEDIVATION, INC.
		
	By	 	 /s/ C. Patrick Machado

		
	Name:	 	C. Patrick Machado
	Title:	 	CFO
		
	Date:	 	October 21, 2009
	
	MEDIVATION PROSTATE THERAPEUTICS, INC.
		
	By	 	 /s/ C. Patrick Machado

		
	Name:	 	C. Patrick Machado
	Title:	 	CFO
		
	Date:	 	October 21, 2009

  

[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
  

 3.1998 Employee Stock Purchase Plan

 Exhibit 10.1 

APPLIED MICRO CIRCUITS CORPORATION 

1998 EMPLOYEE STOCK PURCHASE PLAN 

Last Amended on April 28, 2010 

The following constitute the provisions of the 1998 Employee Stock Purchase Plan of Applied Micro Circuits Corporation (the
“Plan”). 
 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated
Subsidiaries with an opportunity to purchase Common Stock of the Company. It is the intention of the Company to have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the Internal Revenue Code of 1986, as
amended. The provisions of the Plan shall, accordingly, be construed so as to extend and limit participation in a manner consistent with the requirements of that section of the Code. 

2. Definitions. 

(a) “Board” shall mean the Board of Directors of the Company. 

(b) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(c) “Common Stock” shall mean the Common Stock of the Company. 

(d) “Company” shall mean Applied Micro Circuits Corporation, a Delaware corporation. 

(e) “Compensation” shall mean all base straight time gross earnings including payments for overtime,
shift premium, sales department commissions/bonus plan, but excluding all other bonuses and reimbursements. 

(f) “Continuous Status as an Employee” shall mean the absence of any interruption or termination of
service as an Employee. Continuous Status as an Employee shall not be considered interrupted in the case of a leave of absence agreed to in writing by the Company, provided that such leave is for a period of not more than 90 days or reemployment
upon the expiration of such leave is guaranteed by contract or statute. 
 (g) “Contributions”
shall mean all amounts credited to the account of a participant pursuant to the Plan. 
 (h) “Designated
Subsidiaries” shall mean the Subsidiaries which have been designated by the Board from time to time in its sole discretion as eligible to participate in the Plan. 

(i) “Employee” shall mean any person, including an Officer, who is customarily employed for at least
twenty (20) hours per week and more than five (5) months in a calendar year by the Company or one of its Designated Subsidiaries. 

(j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(k) “Purchase Date” shall mean the last day of each Purchase Period of the Plan. 

(l) “Offering Date” shall mean the first business day of each Offering Period of the Plan. 

(m) “Offering Period” shall mean, for Offering Periods beginning before February 1, 2001, a period
of twelve (12) months, and for Offering Periods beginning on or after February 1, 2001, a period of twenty-four (24) months, commencing on February 1 and August 1 of each year, except for the first Offering Period as set
forth in Section 4(a) and as otherwise determined by the Board of Directors with respect to any particular Offering Period. 

(n) “Officer” shall mean a person who is an officer of the Company within the meaning of Section 16
of the Exchange Act and the rules and regulations promulgated thereunder. 
  

 1 

 (o) “Plan” shall mean this Employee Stock Purchase Plan.

 (p) “Purchase Period” shall mean a period of six (6) months within an Offering Period,
except for the first Purchase Period as set forth in Section 4(b). 
 (q) “Purchase Price”
shall mean an amount equal to 85% of the Fair Market Value of a share of Common Stock as defined in Section 7(b) on the Offering Date or on the Purchase Date, whichever is lower, provided, however, that, in the event (i) the Company’s
stockholders approve an increase in the number of shares available for issuance under the Plan, and (ii) all or a portion of such additional shares are to be issued with respect to one or more Offering Periods that are underway at the time of
such stockholder approval (“Additional Shares”), and (iii) the Fair Market Value of a share of Common Stock on the date of such approval (the “Approval Date Fair Market Value”) is higher than the Fair Market Value on the
Offering Date for any such Offering Period, then in such instance the Purchase Price with respect to Additional Shares shall be 85% of the Approval Date Fair Market Value or the Fair Market Value of a share of Common Stock on the Purchase Date,
whichever is lower. 
 (r) “Subsidiary” shall mean a corporation, domestic or foreign, of which
not less than 50% of the voting shares are held by the Company or a Subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary. 

3. Eligibility. 

(a) Any person who is an Employee as of the Offering Date of a given Offering Period shall be eligible to participate in
such Offering Period under the Plan, subject to the requirements of Section 5(a) and the limitations imposed by Section 423(b) of the Code. 

(b) Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan
(i) if, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own stock and/or hold outstanding options to purchase stock possessing
five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any subsidiary of the Company, or (ii) if such option would permit his or her rights to purchase stock under all employee
stock purchase plans (described in Section 423 of the Code) of the Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five Thousand Dollars ($25,000) of fair market value of such stock (determined at the time such option is
granted) for any calendar year in which such option is outstanding at any time. 
 4. Offering Periods and Purchase
Periods. 
 (a) Offering Periods. The Plan shall be implemented by a series of Offering Periods with
new Offering Periods commencing on or about February 1 and August 1 of each year (or at such other time or times as may be determined by the Board of Directors). Except as otherwise determined by the Board of Directors, Offering Periods
beginning before February 1, 2001 shall be of twelve (12) months duration, and Offering Periods beginning on or after February 1, 2001 shall be of twenty-four (24) months duration. The first Offering Period shall commence on the
date that the Company’s stockholders first approve the Plan and will continue until July 31, 1999. The Plan shall continue until terminated in accordance with Section 19 hereof. The Board of Directors of the Company shall have the
power to change the duration and/or the frequency of Offering Periods with respect to future offerings without shareholder approval if such change is announced at least fifteen (15) days prior to the scheduled beginning of the first Offering
Period to be affected. Eligible employees may not participate in more than one Offering Period under the Plan at a time. 

(b) Purchase Periods. Except as otherwise determined by the Board of Directors, each Offering Period beginning
before February 1, 2001 shall consist of two (2) consecutive purchase periods of six (6) months duration, and each Offering Period beginning on or after February 1, 2001 shall consist of four (4) consecutive purchase periods
of six (6) months duration. The last day of each Purchase Period shall be the “Purchase Date” for such Purchase Period. A Purchase Period commencing on February 1 shall end on the next July 31. A Purchase Period commencing
on August 1 shall end on the next January 31. The first Purchase Period shall commence on the date that the Plan is first approved by the Company’s stockholders and shall end on January 31, 1999. The Board of Directors of the
Company shall have the power to change the duration and/or frequency of Purchase Periods with respect to future purchases without shareholder approval if such change is announced at least fifteen (15) days prior to the scheduled beginning of
the first Purchase Period to be affected. 
  

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 5. Participation. 

(a) An eligible Employee may become a participant in the Plan by completing a subscription agreement on the form provided
by the Company and filing it with the Company’s payroll office prior to the applicable Offering Date, unless a later time for filing the subscription agreement is set by the Board for all eligible Employees with respect to a given offering. The
subscription agreement shall set forth the percentage of the participant’s Compensation (which shall be not less than 1% and not more than 20%) to be paid as Contributions pursuant to the Plan. 

(b) Payroll deductions shall commence on the first payroll following the Offering Date and shall end on the last payroll
paid on or prior to the last Purchase Period of the Offering Period to which the subscription agreement is applicable, unless sooner terminated by the participant as provided in Section 10. 

6. Method of Payment of Contributions. 

(a) At the time a participant files his or her subscription agreement, the participant shall elect to have payroll
deductions made on each payday during the Offering Period in an amount not less than one percent (1%) and not more than twenty percent (20%) of such participant’s Compensation on each such payday. All payroll deductions made by a
participant shall be credited to his or her account under the Plan. A participant may not make any additional payments into such account. 

(b) A participant may discontinue his or her participation in the Plan as provided in Section 10, or, during the
Offering Period may increase or decrease the rate of his or her Contributions during such Offering Period by completing and filing with the Company a new subscription agreement; provided, however, that no participant may effect more than one
increase or decrease during a Purchase Period. The change in rate shall be effective as of the beginning of the next pay period following the date of filing of the new subscription agreement, if the agreement is filed at least ten (10) business
days prior to such date and, if not, as of the beginning of the next succeeding pay period. 
 (c)
Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 3(b) herein, a participant’s payroll deductions may be decreased to 0% at such time during any Offering Period as is
necessary to comply with the limitations provided in such Sections. Payroll deductions shall re-commence at the rate provided in such participant’s subscription Agreement at such time as will comply with such Sections, unless terminated by the
participant as provided in Section 10. 
 7. Grant of Option. 

(a) On the Offering Date of each Offering Period, each eligible Employee participating in such Offering Period shall be
granted an option to purchase on each Purchase Date a number of shares of the Company’s Common Stock determined by dividing such Employee’s Contributions accumulated prior to such Purchase Date and retained in the participant’s
account as of the Purchase Date by the applicable Purchase Price; provided however, that the maximum number of shares an Employee may purchase during each Purchase Period shall be 4,000 shares (1,000 shares for each Offering Period beginning on or
after February 1, 2008 and 2,500 shares for each Offering Period beginning on or after August 1, 2010), and provided further that such purchase shall be subject to the limitations set forth in Sections 3(b) and 13. The fair market value of
a share of the Company’s Common Stock shall be determined as provided in Section 7(b). 
 (b) The fair
market value of the Company’s Common Stock on a given date shall be determined by the Board in its discretion based on the closing price of the Common Stock for such date (or, in the event that the Common Stock is not traded on such date, on
the immediately preceding trading date), as reported by the National Association of Securities Dealers Automated Quotation (Nasdaq) National Market or, if such price is not reported, the mean of the bid and asked prices per share of the Common Stock
as reported by Nasdaq or, in the event the Common Stock is listed on a stock exchange, the fair market value per share shall be the closing price on such exchange on such date (or, in the event that the Common Stock is not traded on such date, on
the immediately preceding trading date), as reported in The Wall Street Journal; provided, however, that for Offering Periods beginning on or after April 18, 2001, the fair market value of the Company’s Common Stock on the first day
of each such Offering Period shall be determined by the Board in its discretion based on the closing price of the Common Stock on the last market trading day prior to such date, as reported by the National Association of Securities Dealers Automated
Quotation (Nasdaq) National Market or, if such price is not reported, the mean of the bid and asked prices per share of the Common Stock as reported by Nasdaq or, in the event the Common Stock is listed on a stock exchange, the fair market value per
share shall be the closing price on such exchange on the last market trading day prior to such date, as reported in The Wall Street Journal (the “Fair Market Value”). 

 

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 8. Exercise of Option. Unless a participant withdraws from the Plan as provided in
paragraph 10, his or her option for the purchase of shares will be exercised automatically on each Purchase Date of an Offering Period, and the maximum number of full shares subject to the option will be purchased at the applicable Purchase Price
with the accumulated Contributions in his or her account. The shares purchased upon exercise of an option hereunder shall be deemed to be transferred to the participant on the Purchase Date. No fractional shares shall be purchased. Any payroll
deductions accumulated in a participant’s account which are not sufficient to purchase a full share shall be retained in the participant’s account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the
participant as provided in Section 10. Any other monies left over in a participant’s account after a Purchase Date, including amounts that would have purchased shares in excess of the maximum allowed under Section 7(a), shall be
returned to the Participant. During his or her lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her. 

9. Delivery. As promptly as practicable after each Purchase Date of each Offering Period, the Company shall arrange the delivery
to each participant, as appropriate, of a certificate representing the shares purchased upon exercise of his or her option or the deposit of such number of shares with the broker selected by the Company for administration of Plan stock purchases, as
determined by the Company. 
 10. Voluntary Withdrawal; Termination of Employment. 

(a) A participant may withdraw all but not less than all of the Contributions credited to his or her account under the
Plan at any time at least five (5) business days prior to each Purchase Date by giving written notice to the Company in the form provided for by the Company. All of the participant’s Contributions credited to his or her account will be
paid to him or her promptly after receipt of his or her notice of withdrawal and his or her option for the current period will be automatically terminated, and no further Contributions for the purchase of shares will be made during the Offering
Period. 
 (b) Upon termination of the participant’s Continuous Status as an Employee (as defined in
Section 2(f) hereof) prior to the Purchase Date of an Offering Period for any reason, including retirement or death, the Contributions credited to his or her account will be returned to him or her or, in the case of his or her death, to the
person or persons entitled thereto under Section 14, and his or her option will be automatically terminated. 

(c) In the event an Employee fails to remain in Continuous Status as an Employee of the Company for at least twenty
(20) hours per week during the Offering Period in which the employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and
his or her option terminated. 
 (d) A participant’s withdrawal from an offering will not have any effect
upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company. 
  

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 11. Automatic Withdrawal. If the Fair Market Value of the shares on a Purchase Date
during an Offering Period (other than the last Purchase Date of such Offering Period) is less than the Fair Market Value of the shares on the Offering Date for such Offering Period, then every participant shall automatically (i) be withdrawn
from such Offering Period at the close of such Purchase Date and after the acquisition of shares for such Purchase Period, and (ii) be enrolled in the Offering Period commencing on the first business day subsequent to such Purchase Period.

 12. Interest. No interest shall accrue on the Contributions of a participant in the Plan. 

13. Stock. 

(a) The maximum number of shares of the Company’s Common Stock which shall be made available for sale under the Plan
shall be 6,300,000 shares subject to adjustment upon changes in capitalization of the Company as provided in Section 19. If the total number of shares which would otherwise be subject to options granted pursuant to Section 7(a) on the
Offering Date of an Offering Period exceeds the number of shares then available under the Plan (after deduction of all shares for which options have been exercised or are then outstanding), the Company shall make a pro rata allocation of the shares
remaining available for option grant in as uniform a manner as shall be practicable and as it shall determine to be equitable. In such event, the Company shall give written notice of such reduction of the number of shares subject to the option to
each Employee affected thereby and shall similarly reduce the rate of Contributions, if necessary. 
 (b) The
participant will have no interest or voting right in shares covered by his or her option until such option has been exercised. 

(c) Shares to be delivered to a participant under the Plan will be registered in the name of the participant or in the
name of the participant and his or her spouse. 
 14. Administration. The Board, or a committee named by the Board, shall
supervise and administer the Plan and shall have full power to adopt, amend and rescind any rules deemed desirable and appropriate for the administration of the Plan and not inconsistent with the Plan, to construe and interpret the Plan, and to make
all other determinations necessary or advisable for the administration of the Plan. The composition of the committee shall be in accordance with the requirements to obtain or retain any available exemption from the operation of Section 16(b) of
the Exchange Act pursuant to Rule 16b-3 promulgated thereunder. 
 15. Designation of Beneficiary. 

(a) A participant may file a written designation of a beneficiary who is to receive any shares and cash, if any, from the
participant’s account under the Plan in the event of such participant’s death subsequent to the end of a Purchase Period but prior to delivery to him or her of such shares and cash. In addition, a participant may file a written designation
of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to the Purchase Date of an Offering Period. If a participant is married and the designated beneficiary
is not the spouse, spousal consent shall be required for such designation to be effective. 
 (b) Such
designation of beneficiary may be changed by the participant (and his or her spouse, if any) at any time by written notice. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is
living at the time of such participant’s death, the Company shall deliver such shares and/or cash to the executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of
the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other
person as the Company may designate. 
 16. Transferability. Neither Contributions credited to a participant’s
account nor any rights with regard to the exercise of an option or to receive shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution, or as provided
in Section 15) by the participant. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds in accordance with Section 10.

  

 5 

 17. Use of Funds. The Company may use all Contributions received or held by the
Company under the Plan for any corporate purpose, and the Company shall not be obligated to segregate such Contributions. 
 18.
Reports. Individual accounts will be maintained for each participant in the Plan. Statements of account will be given to participating Employees promptly following the Purchase Date, which statements will set forth the amounts of
Contributions, the per share purchase price, the number of shares purchased and the remaining cash balance, if any. 
 19.
Adjustments Upon Changes in Capitalization; Corporate Transactions. 
 (a) Adjustment. Subject to
any required action by the shareholders of the Company, the number of shares of Common Stock covered by each option under the Plan which has not yet been exercised and the number of shares of Common Stock which have been authorized for issuance
under the Plan but have not yet been placed under option (collectively, the “Reserves”), as well as the price per share of Common Stock covered by each option under the Plan which has not yet been exercised, shall be proportionately
adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the
number of shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of
consideration”. Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issue by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an option. 

(b) Corporate Transactions. In the event of the proposed dissolution or liquidation of the Company, the Offering
Period will terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Board. In the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the Company with
or into another corporation, each option under the Plan shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary of such successor corporation, unless the Board determines, in the exercise
of its sole discretion and in lieu of such assumption or substitution, to shorten the Offering Period then in progress by setting a new Purchase Date (the “New Purchase Date”). If the Board shortens the Offering Period then in progress in
lieu of assumption or substitution in the event of a merger or sale of assets, the Board shall notify each participant in writing, at least ten (10) days prior to the New Purchase Date, that the Purchase Date for his or her option has been
changed to the New Purchase Date and that his or her option will be exercised automatically on the New Purchase Date, unless prior to such date he or she has withdrawn from the Offering Period as provided in Section 10. For purposes of this
paragraph, an option granted under the Plan shall be deemed to be assumed if, following the sale of assets or merger, the option confers the right to purchase, for each share of option stock subject to the option immediately prior to the sale of
assets or merger, the consideration (whether stock, cash or other securities or property) received in the sale of assets or merger by holders of Common Stock for each share of Common Stock held on the effective date of the transaction (and if such
holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if such consideration received in the sale of assets or merger was not
solely common stock of the successor corporation or its parent (as defined in Section 424(e) of the Code), the Board may, with the consent of the successor corporation and the participant, provide for the consideration to be received upon
exercise of the option to be solely common stock of the successor corporation or its parent equal in fair market value to the per share consideration received by holders of Common Stock and the sale of assets or merger. 

 

 6 

 The Board may, if it so determines in the exercise of its sole discretion,
also make provision for adjusting the Reserves, as well as the price per share of Common Stock covered by each outstanding option, in the event that the Company effects one or more reorganizations, recapitalizations, rights offerings or other
increases or reductions of shares of its outstanding Common Stock, and in the event of the Company being consolidated with or merged into any other corporation. 

20. Amendment or Termination. 

(a) The Board of Directors of the Company may at any time and for any reason terminate or amend the Plan. Except as
provided in Section 19, no such termination may affect options previously granted, provided that an Offering Period may be terminated by the Board on a Purchase Date if the Board determines that the termination of the Plan is in the best
interests of the Company and the shareholders or if continuation of an Offering Period would cause the Company to incur adverse accounting charges resulting from a change in the generally accepted accounting rules applicable to such plans. Except as
provided in Section 19, no amendment may make any change in any option theretofore granted which adversely affects the rights of any participant. In addition, to the extent necessary to comply with Rule 16b-3 under the Exchange Act, or under
Section 423 of the Code (or any successor rule or provision or any applicable law or regulation), the Company shall obtain shareholder approval in such a manner and to such a degree as so required. 

(b) Without shareholder consent and without regard to whether any participant rights may be considered to have been
adversely affected, the Board (or its committee) shall be entitled to change the Offering Periods and Purchase Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio
applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed
withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld
from the participant’s Compensation, and establish such other limitations or procedures as the Board (or its committee) determines in its sole discretion advisable which are consistent with the Plan. 

21. Notices. All notices or other communications by a participant to the Company under or in connection with the Plan shall be
deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

22. Conditions Upon Issuance of Shares. Shares shall not be issued with respect to an option unless the exercise of such option
and the issuance and delivery of such shares pursuant thereto shall comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations
promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

As a condition to the exercise of an option, the Company may require the person exercising such option to represent and
warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by
any of the aforementioned applicable provisions of law. 
 23. Term of Plan; Effective Date. The Plan shall become
effective upon the earlier to occur of its adoption by the Board of Directors or its approval by the shareholders of the Company. It shall continue in effect for a term of twenty (20) years unless sooner terminated under Section 20.

 24. Additional Restrictions of Rule 16b-3. The terms and conditions of options granted hereunder to, and the purchase
of shares by, persons subject to Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3. This Plan shall be deemed to contain, and such options shall contain, and the shares issued upon exercise thereof shall
be subject to, such additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption from Section 16 of the Exchange Act with respect to Plan transactions. 

 

 7

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