Document:

EX10.1

 Exhibit 10.1 

TRANSITION SERVICES AGREEMENT 
 BY
AND BETWEEN 
 EMERGENT BIOSOLUTIONS INC. 

AND 
 APTEVO THERAPEUTICS INC.

 DATED AS OF [●], 2016 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 ARTICLE II SERVICES, DURATION AND SERVICES MANAGERS
	  	 	3	  
			
	 Section 2.01.
	 	 Services
	  	 	3	  
			
	 Section 2.02.
	 	 Duration of Services
	  	 	3	  
			
	 Section 2.03.
	 	 Services Not Included
	  	 	3	  
			
	 Section 2.04.
	 	 Additional Services
	  	 	4	  
			
	 Section 2.05.
	 	 Personnel
	  	 	4	  
		
	 ARTICLE III ADDITIONAL ARRANGEMENTS
	  	 	5	  
			
	 Section 3.01.
	 	 Software and Software Licenses
	  	 	5	  
			
	 Section 3.02.
	 	 Computer-Based and Other Resources
	  	 	6	  
			
	 Section 3.03.
	 	 Connectivity to Host Systems
	  	 	6	  
			
	 Section 3.04.
	 	 Access to Facilities
	  	 	7	  
			
	 Section 3.05.
	 	 Cooperation
	  	 	7	  
			
	 Section 3.06.
	 	 License Grants
	  	 	7	  
			
	 Section 3.07.
	 	 Data Protection
	  	 	7	  
		
	 ARTICLE IV COSTS AND DISBURSEMENTS
	  	 	8	  
			
	 Section 4.01.
	 	 Costs and Disbursements
	  	 	8	  
			
	 Section 4.02.
	 	 Tax Matters
	  	 	9	  
		
	 ARTICLE V STANDARD FOR SERVICE
	  	 	10	  
			
	 Section 5.01.
	 	 Standard for Service
	  	 	10	  
			
	 Section 5.02.
	 	 Disclaimer of Warranties
	  	 	11	  
			
	 Section 5.03.
	 	 Compliance with Laws and Regulations
	  	 	11	  
		
	 ARTICLE VI REPRESENTATIONS; LIMITED LIABILITY AND INDEMNIFICATION
	  	 	11	  
			
	 Section 6.01.
	 	 Representations
	  	 	11	  
			
	 Section 6.02.
	 	 Consequential and Other Damages
	  	 	12	  
			
	 Section 6.03.
	 	 Limitation of Liability
	  	 	12	  
			
	 Section 6.04.
	 	 Obligation To Reperform; Liabilities
	  	 	12	  
			
	 Section 6.05.
	 	 Release and Recipient Indemnity
	  	 	12	  
			
	 Section 6.06.
	 	 Provider Indemnity
	  	 	13	  
			
	 Section 6.07.
	 	 Indemnification Procedures
	  	 	13	  
			
	 Section 6.08.
	 	 Liability for Payment Obligations
	  	 	13	  
			
	 Section 6.09.
	 	 Exclusion of Other Remedies
	  	 	13	  
			
	 Section 6.10.
	 	 Confirmation
	  	 	13	  

  
 i 

							
	 ARTICLE VII TERM AND TERMINATION
	  	 	13	  
			
	 Section 7.01.
	 	 Term and Termination
	  	 	13	  
			
	 Section 7.02.
	 	 Effect of Termination
	  	 	14	  
			
	 Section 7.03.
	 	 Force Majeure
	  	 	15	  
		
	 ARTICLE VIII DISPUTE RESOLUTION; SERVICES MANAGERS
	  	 	15	  
			
	 Section 8.01.
	 	 Disputes
	  	 	15	  
			
	 Section 8.02.
	 	 Negotiation and Mediation
	  	 	15	  
			
	 Section 8.03.
	 	 Arbitration
	  	 	16	  
			
	 Section 8.04.
	 	 Interim Relief
	  	 	17	  
			
	 Section 8.05.
	 	 Remedies
	  	 	17	  
			
	 Section 8.06.
	 	 Expenses
	  	 	17	  
			
	 Section 8.07.
	 	 Continuation of Services and Commitments
	  	 	17	  
			
	 Section 8.08.
	 	 Transition Services Managers
	  	 	17	  
		
	 ARTICLE IX GENERAL PROVISIONS
	  	 	18	  
			
	 Section 9.01.
	 	 Provisions from the SDA
	  	 	18	  
			
	 Section 9.02.
	 	 No Agency
	  	 	18	  
			
	 Section 9.03.
	 	 Treatment of Confidential Information
	  	 	18	  
			
	 Section 9.04.
	 	 Further Assurances
	  	 	19	  
			
	 Section 9.05.
	 	 Dispute Resolution
	  	 	19	  
			
	 Section 9.06.
	 	 Notices
	  	 	19	  
			
	 Section 9.07.
	 	 Entire Agreement
	  	 	19	  
			
	 Section 9.08.
	 	 No Third-Party Beneficiaries
	  	 	19	  
			
	 Section 9.09.
	 	 Interpretation
	  	 	20	  
			
	 Section 9.10.
	 	 Assignability
	  	 	20	  
			
	 Section 9.11.
	 	 Non-Recourse
	  	 	21	  
			
	 Section 9.12.
	 	 Expenses
	  	 	21	  

 Schedules & Exhibits: 
  

			
	 Exhibit:
	 	
	 Exhibit A
	 	 Services Managers

	 Exhibit B
	 	 Quality Agreement

  
 ii 

 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT, dated as of [●], 2016 (this “Agreement”), is entered into by and between Emergent
BioSolutions Inc., a Delaware corporation (“Emergent”), and Aptevo Therapeutics Inc., a Delaware corporation (“Aptevo”). Unless otherwise defined in this Agreement, all capitalized terms used in this Agreement shall
have the meaning set forth in the Separation and Distribution Agreement, dated as of the date hereof, by and between Emergent and Aptevo (as amended, modified or supplemented from time to time in accordance with its terms, the
“SDA”). 
 RECITALS 

WHEREAS, the board of directors of Emergent has determined that it is in the best interests of Emergent and its shareholders that the Aptevo
Business be operated by a newly incorporated publicly traded company; 
 WHEREAS, Emergent and Aptevo have entered into the SDA; 

WHEREAS, in order to facilitate and provide for an orderly transition under the SDA, the Parties (as defined herein) desire to enter into this
Agreement to set forth the terms and conditions pursuant to which members of the Emergent Group shall provide to members of the Aptevo Group the Services (as defined herein) for a transitional period; and 

WHEREAS, the SDA requires execution and delivery of this Agreement by Emergent and Aptevo on or prior to the Distribution Date. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained in this Agreement, the Parties, intending to be legally
bound, hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 The following
capitalized terms used in this Agreement shall have the meanings set forth below: 
 “Agreement” shall have the meaning set
forth in the Preamble. 
 “Additional Services” shall have the meaning set forth in Section 2.04. 

“Aptevo” shall have the meaning set forth in the Preamble. 

“Aptevo Local Service Manager” shall have the meaning set forth in Section 8.08(b). 

“Aptevo Services Manager” shall have the meaning set forth in Section 8.08(b). 

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

  
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 “Emergent” shall have the meaning set forth in the Preamble. 

“Emergent Local Service Manager” shall have the meaning set forth in Section 8.08(a). 

“Emergent Services Manager” shall have the meaning set forth in Section 8.08(a). 

“FATCA” shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version thereof or any similar non-U.S. law), any current or future regulations or official interpretations thereof (including any Revenue Ruling, Revenue Procedure, Notice or similar guidance issued by the IRS thereunder as a precondition to relief
or exemption from taxes under such provisions), and any intergovernmental agreements and any agreements entered into pursuant to Section 1471(b) of the Code. 

“Interest Payment” shall have the meaning set forth in Section 4.01(d). 

“Party” shall mean Emergent and Aptevo individually, and “Parties” means Emergent and Aptevo collectively,
and, in each case, their permitted successors and assigns. 
 “Provider” shall mean any member of the Emergent Group
providing (or causing to be provided) a Service under this Agreement. 
 “Provider Host Systems” shall mean the information
technology systems and platforms of the Provider. 
 “Provider Indemnified Party” shall have the meaning set forth in
Section 6.05. 
 “Provider Individual User” shall mean those employees and contractors of the Provider who have
a need to access the Recipient Host Systems in order to provide the Services. 
 “Quality Agreement” shall mean the Quality
Agreement by and between Aptevo and Emergent attached hereto as Exhibit B. 
 “Recipient” shall mean any member of
the Aptevo Group to whom a Service under this Agreement is being provided. 
 “Recipient Host Systems” shall mean the
information technology systems and platforms of the Recipient. 
 “Recipient Indemnified Party” shall have the meaning set
forth in Section 6.06. 
 “Recipient Individual User” shall mean those employees and contractors of the
Recipient who have a need to access the Provider Host Systems in order to receive the Services. 
 “Reimbursement Charges”
shall have the meaning set forth in Section 4.01(c). 
 “Schedule(s)” shall have the meaning set forth in
Section 2.01. 

  
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 “SDA” shall have the meaning set forth in the Preamble. 

“Service Charges” shall have the meaning set forth in Section 4.01(a). 

“Services” shall have the meaning set forth in Section 2.01. 

“Tax” or “Taxes” shall have the meaning set forth in the Tax Matters Agreement. 

“Transfer Taxes” shall have the meaning set forth in Section 4.02(a). 

“VAT” shall have the meaning set forth in Section 4.02(a). 

ARTICLE II 
 SERVICES,
DURATION AND SERVICES MANAGERS 
 Section 2.01. Services. Subject to the terms and conditions of this Agreement, Emergent
shall use commercially reasonable efforts to provide or cause to be provided to the Recipient the services (the “Services”) listed on Schedules A-1 through A-[●] (each a “Schedule”, and
collectively, the “Schedules”) in accordance with the terms and conditions of this Agreement. For the avoidance of doubt, Services provided in different regions or countries (as indicated by such Services being listed on different
subparts of the Schedules hereto) shall be considered separate Services hereunder, notwithstanding that such Services may be similar in nature. All of the Services shall be for the sole use and benefit of the respective Recipient and the members of
its Group. Emergent shall be responsible for all actions and omissions of each Provider under this Agreement, and Aptevo shall be responsible for all actions and omissions of each Recipient under this Agreement. The Quality Agreement shall, together
with this Agreement, apply to the provision of any Service solely to the extent such Service relates to quality assurance matters and is within the subject matter of the Quality Agreement. In the event of any conflict or inconsistency between the
Quality Agreement and this Agreement solely with respect to quality assurance matters, the Quality Agreement shall control. In the event of any other conflict or inconsistency (including, for the avoidance of doubt, with respect to the respective
remedies of the parties with respect to any Service), this Agreement shall control. 
 Section 2.02. Duration of Services.
Subject to the terms of this Agreement, Emergent shall use commercially reasonable efforts to provide or cause to be provided to the respective Recipient each Service until the earlier to occur of, with respect to each such Service, (a) the
expiration of the term for such Service as set forth on the applicable Schedule or (b) the date on which such Service is terminated under Section 7.01(b). 

Section 2.03. Services Not Included. It is not the intent of the Provider to render, nor of the Recipient to receive from the
Provider, professional advice or opinions, whether with regard to Tax, legal or intellectual property matters. The Recipient shall not rely on, or construe, any Service rendered by or on behalf of the Provider as such Tax, legal or intellectual
property professional advice or opinions, and the Recipient shall seek all third-party professional advice and opinions with respect to such matters. The Parties expressly agree that no Provider shall have any Liability under any professional code
of conduct or other professional standards, duties or responsibilities. 

  
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 Section 2.04. Additional Services. During the Term, the Recipient may identify
additional services it wishes to receive that are not set forth in the Schedule, provided that such services were provided to the Aptevo Business as of the Effective Time and are necessary for its operation as conducted as of the Effective Time,
(collectively, the “Additional Services”). If the Provider agrees (in its sole discretion) to provide Additional Services, the Parties shall work together in good faith to determine the associated price, terms and conditions with
respect to the performance of each Additional Service. Upon written agreement to such terms, such Additional Services shall be deemed Services hereunder and the Parties shall execute a written amendment to the then-current Schedules to reflect such
Additional Service. Notwithstanding the foregoing, the Provider will not have any obligation to agree to provide any Additional Services. 

Section 2.05. Personnel. 

(a) The Provider of any Service will have the right, in its sole discretion, to (i) designate which personnel it will assign to perform
any Service unless specific personnel are identified as the personnel to be providing the applicable Service in the Schedules and (ii) remove and replace such personnel at any time; provided, however, that, in the event of any
such replacement, the Provider shall use commercially reasonable efforts to replace any such personnel with personnel of similar expertise, education, training, qualification and seniority (in each case to the extent such concepts are relevant to
the delivery of the applicable Service) and any such removal or replacement shall not relieve the Provider of its obligation to provide any Service hereunder on the timeline set forth in the Schedules; and provided, further, that the
Provider will use its commercially reasonable efforts to take such actions as may be reasonably necessary to limit the disruption to the Recipient in the transition of the Services to different personnel. If the Recipient, in its reasonable
discretion and following discussions with the Provider, requests the Provider to remove and/or replace any such personnel from their roles in respect of the Services provided by the Recipient, the Provider shall consider such request in good faith,
and if such personnel are removed or replaced pursuant to the Recipient’s request, then the Provider shall be under no obligation to provide the Services previously provided by such personnel. Without limiting the foregoing, the Recipient shall
have the right to remove or require the removal of any Provider personnel, agents or representatives from its premises whom the Recipient believes in good faith are in violation of applicable Law, the terms of this Agreement, or the Recipient’s
reasonable policies generally applicable to its employees or other service providers and of which the Provider has knowledge based on written copies of such policies previously provided to the Provider by the Recipient. 

(b) In the event that the provision of any Service by the Provider requires the cooperation and services of the personnel of the Recipient,
the Recipient will use commercially reasonable efforts to make available to the Provider such personnel (who shall be appropriately qualified for purposes of so supporting the provision of such Service by the Provider) as may be necessary for the
Provider to provide such Service, provided that nothing in this Agreement shall be construed as an obligation of the Provider or the Recipient to hire, or maintain the employment of, any individuals. If the Provider, in its reasonable
discretion and following discussions with the Recipient, requests the Recipient to remove and/or replace any such personnel from their roles in respect of the Services being provided by the Provider, the Recipient shall consider such request in good
faith. 

  
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 (c) No Provider shall be liable under this Agreement for any Liabilities incurred by the
Recipient Indemnified Parties that are primarily attributable to, or that are a consequence of, any actions or inactions of the personnel of the Recipient, except for any such actions or inactions undertaken pursuant to the written direction of the
Provider. 
 (d) A Provider may hire or engage one or more subcontractors to perform any or all of its obligations under this Agreement;
provided, however, that (i) the Provider shall use the same degree of care in selecting any such subcontractor as it would if such subcontractor was being retained to provide similar services to the Provider and (ii) any
contract with a subcontractor pertaining to the provision of any Service by such subcontractor will be consistent with the provisions of this Agreement. Without limitation of the foregoing, the Provider agrees that any subcontract relationship that
is evidenced by a written agreement will obligate the subcontractor to provisions regarding standards of service, compliance with applicable Law, inspection, Intellectual Property and confidentiality no less stringent than those contained in this
Agreement. The engagement of any subcontractor in compliance with this Section 2.05(d) will not relieve the Provider of its obligations under this Agreement or any other Ancillary Agreement, including without limitation, with respect to
the scope of the Services, the standard for services as set forth in ARTICLE V and the content of the Services provided to the Recipient. 

(e) Nothing in this Agreement shall grant any Party, or its employees, agents, third-party providers and other Representatives, the right
directly or indirectly to control or direct the employees, business or operations of the other Party or any member of its Group. The employees, agents, third-party providers and other Representatives of a Party shall not be required to report to the
management of the other Party nor be deemed to be under the management or direction of the other Party. The Recipient acknowledges and agrees that, except as may be expressly set forth herein as a Service or in the Schedules or otherwise expressly
set forth in the SDA, another Ancillary Agreement or any other applicable agreement, no Provider or any member of its Group shall be obligated to provide, or cause to be provided, any service or goods to any Recipient or any member of its Group.

 ARTICLE III 

ADDITIONAL ARRANGEMENTS 

Section 3.01. Software and Software Licenses. 

(a) If and to the extent requested by the Provider, the Recipient shall use commercially reasonable efforts to assist the Provider in the
Provider’s efforts to obtain licenses (or other appropriate rights) to use, duplicate and distribute, as necessary and applicable, certain computer software necessary for the provision of Services and the Recipient shall be responsible for any
fees, payments or other Liabilities incurred by or on behalf of the Provider in connection with obtaining any such license or rights to the extent such license or rights relate exclusively to the provision of Services. The Parties acknowledge and
agree that there can be no assurance that such efforts will be successful. In the event that the Provider is unable to obtain such software licenses, the Parties shall work together using commercially reasonable efforts to obtain an alternative
software license to allow the Provider to provide the applicable Services, and the Parties shall negotiate in good faith an amendment to the applicable Schedule to reflect any such new arrangement. 

  
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 (b) Without limitation of anything in Section 3.01(a), in the event that there are
any costs associated with obtaining software licenses in accordance with Section 3.01(a), such costs shall be borne by the Recipient. 

Section 3.02. Computer-Based and Other Resources. From and after the date of this Agreement, each Party and its Affiliates shall
cause all of their personnel having access to the computer software, networks, hardware, technology or computer based resources of the other Party pursuant to the SDA, or any Ancillary Agreement, or in connection with performance, receipt or
delivery of a Service, to comply with all security guidelines (including physical security, network access, internet security, confidentiality and personal data security guidelines) of such other Party to the extent made known to the first Party.
Each Party shall ensure that the access contemplated by this Section 3.02 shall be used by its personnel only for the purposes contemplated by, and subject to the terms of, this Agreement. Without limiting the foregoing, subject to the
terms and conditions of this Agreement, during the Term, (a) the Recipient shall permit the Provider and authorized Provider Individual Users to access the Recipient Host Systems for the sole purpose of providing the Services in accordance with
the terms and conditions expressly stated in this Agreement and (b) the Provider shall permit the Recipient and authorized Recipient Individual Users to access the Provider Host Systems for the sole purpose of receiving the Services in
accordance with the terms and conditions expressly stated in this Agreement. Notwithstanding anything else to the contrary in this Agreement, (x) Emergent shall not permit any party (including contractors) other than Provider Individual Users
to access the Recipient Host Systems without Aptevo’s prior written consent, which consent may be withheld in Aptevo’s sole discretion and (y) Aptevo shall not permit any party (including contractors) other than Recipient Individual
Users to access the Provider Host Systems without Emergent’s prior written consent, which consent may be withheld in Emergent’s sole discretion. 

Section 3.03. Connectivity to Host Systems. 

(a) The Provider shall, at its sole expense, provide all equipment and network connectivity necessary for each of its Representatives and each
Provider Individual User to connect to the Recipient Host Systems. 
 (b) The Recipient shall, at its sole expense, provide all equipment
and network connectivity necessary for each of its Representatives and each Recipient Individual User to connect to the Provider Host Systems. 

  
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 Section 3.04. Access to Facilities. 

(a) Subject to Section 2.05(a), Aptevo shall, and shall cause its Subsidiaries to, allow Emergent and its Representatives
reasonable access to the facilities of Aptevo necessary (including if more efficient) for Emergent to provide the Services in accordance with this Agreement. Such access shall be conditioned on compliance with applicable Laws, the terms of this
Agreement, and Aptevo’s reasonable policies generally applicable to its service providers or visitors of which the Provider has knowledge based on written copies of such policies previously provided to the Provider by the Recipient. 

(b) Notwithstanding the other rights of access of the Parties under this Agreement, each Party shall, and shall cause its Subsidiaries to,
afford the other Party, its Subsidiaries and Representatives, following not less than ten (10) business days’ prior written notice from the other Party, reasonable access during normal business hours to the facilities, information,
systems, infrastructure, and personnel of the relevant Providers as reasonably necessary for the other Party to verify the adequacy of internal controls over information technology, reporting of financial data and related processes employed in
connection with the Services, including in connection with verifying compliance with Section 404 of the Sarbanes-Oxley Act of 2002; provided, however, that such access shall not unreasonably interfere with any of the business or
operations of such Party or its Subsidiaries. 
 (c) Except as otherwise permitted by the other Party in writing, each Party shall permit
only its authorized Representatives, contractors, invitees or licensees to access the other Party’s facilities, and shall permit such access only to the extent necessary to perform obligations under this Agreement. 

Section 3.05. Cooperation. It is understood that it will require the significant efforts of both Parties to implement this
Agreement and to ensure performance of this Agreement by the Parties at the agreed-upon levels in accordance with all of the terms and conditions of this Agreement. The Parties will cooperate, acting in good faith and using commercially reasonable
efforts, to permit the Provider to provide the relevant Services and to effect a smooth and orderly transition of the Services provided under this Agreement from the Provider to the Recipient; provided, however, that this
Section 3.05 shall not require either Party to incur any out-of-pocket costs or expenses exceeding $1,000 during any one (1) month period. 

Section 3.06. License Grants. Subject to the terms and conditions of this Agreement, Aptevo hereby grants to Emergent a
non-exclusive, non-sublicenseable (except to those other members of the Emergent Group or third-party service providers performing the Services on behalf of Emergent), non-transferable (except in accordance with Section 9.10), limited
license, to use during the term of this Agreement the intellectual property that is owned or controlled by Aptevo now or in the future, solely to the extent necessary or reasonably useful for Emergent to perform the Services. 

Section 3.07. Data Protection. The Provider shall only process personal data which it may receive from the Recipient, while
carrying out its duties under this Agreement: (a) in such a manner as is necessary to carry out those duties and (b) in accordance with the instructions of the Recipient. 

  
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 ARTICLE IV 

COSTS AND DISBURSEMENTS 

Section 4.01. Costs and Disbursements. 

(a) Except as otherwise provided in this Agreement, Aptevo shall pay, or cause to be paid, to the Provider of Services the fee for the Services
(or category of Services, as applicable) (each fee constituting the “Service Charge” and, collectively, “Service Charges”) as listed on Schedule [●]; provided, that, Emergent shall give written notice to
Aptevo when, in its reasonable business judgment, Emergent believes in good faith that it is likely that Aptevo will request that Services be provided by Emergent during any contract year after the Effective Time exceeding the number of hours in the
“Annual Services Work Hours Cap” set forth on Schedule [●]. Emergent shall neither have any obligation to provide nor have any right to charge for such Services above such Annual Services Work Hours Cap without the prior written
consent of Aptevo. With respect to each Service or category of Services, the applicable Schedule shall set forth (i) the Recipient that will be invoiced the Service Charge for such Service or category of Services and (ii) the Provider that
will be paid such Service Charge. 
 (b) In addition, during the term of this Agreement, the amount of a Service Charge for any Services (or
category of Services, as applicable) may increase: (i) as expressly set forth on the applicable Schedule, (ii) as mutually agreed to by the Parties in writing in advance of any such increase, provided that Aptevo may withhold such
agreement in its sole discretion, (iii) to the extent of any increase in the Provider’s actual and direct costs of providing a Service are increased as a result of any increase in the rates or charges imposed by any unaffiliated
third-party provider that is providing Services or (iv) to reflect the removal or replacement of personnel pursuant to Section 2.05(a), prorated with respect to the portion of Services provided under this Agreement; provided that,
with respect to foregoing clause (iii), the Provider shall provide the Recipient with reasonably detailed written documentation evidencing the increased fees from the applicable third-party provider and setting forth the calculation of the
Provider’s increased direct costs of providing the applicable Service. 
 (c) Notwithstanding Section 3.05, the Recipient
shall reimburse the Provider for reasonable out-of-pocket costs and expenses exceeding $1,000 during any one (1) month period incurred by the Provider or its Affiliates in connection with providing the Services (including necessary
travel-related expenses) (each such cost or expense, a “Reimbursement Charge” and, collectively, “Reimbursement Charges”); provided, however, that any such cost or expense that is materially
inconsistent with the Provider’s historical practice for any Service (including business travel and related expenses) shall require advance approval of the Recipient. 

(d) The Service Charges and Reimbursement Charges due and payable hereunder shall be invoiced and paid in the currency expressly applicable to
such Service in the relevant Schedule hereto. Each month the Provider shall provide to the Recipient an invoice setting forth the Service Charges and Reimbursement Charges for the immediately preceding month, and the Recipient shall pay the amount
of each monthly invoice by wire transfer (or such other method of payment as may be agreed between the Parties) to the Provider within forty-five (45) days of the receipt of each such invoice. Each invoice provided by the Recipient to the
Provider shall also include reasonably detailed documentation to support the calculation of such 

  
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Service Charges and Reimbursement Charges. In the absence of a timely notice of a billing dispute in accordance with the provisions of Article VIII of the SDA, if the Recipient fails to
pay such amount by the due date, the Recipient shall be obligated to pay to the Provider, in addition to the amount due, interest at an annual default interest rate of twelve percent (12%), or the maximum legal rate, whichever is lower (the
“Interest Payment”), accruing from the date the payment was due through the date of actual payment. In the event of any billing dispute, the Recipient shall promptly pay any undisputed amount. 

(e) Subject to the confidentiality provisions set forth in Section 9.03, Emergent shall, and shall cause its Affiliates to,
provide, upon ten (10) business days’ prior written notice from Aptevo, any information within Emergent’s or the Provider’s possession or control that Aptevo reasonably requests in connection with any Services being provided to
Aptevo by an unaffiliated third-party provider, including any applicable invoices, agreements documenting the arrangements between such third-party provider and the Provider and other supporting documentation. 

(f) If any amount to be paid under this Agreement is originally stated or expressed in a currency other than United States Dollars, then, for
the purpose of determining the amount to be so paid, such amount shall be converted into United States Dollars at the exchange rate between those two currencies most recently quoted in The Wall Street Journal in New York as of the business
day immediately prior to (or, if no such quote exists on such business day, on the closest business day prior to) the day on which the Party is required to make such payment. 

Section 4.02. Tax Matters. 

(a) Without limiting any provisions of this Agreement, the Recipient shall be responsible for (i) all excise, sales, use, transfer, stamp,
documentary, filing, recordation and other similar Taxes, (ii) any value added, goods and services or similar recoverable indirect Taxes (“VAT”) and (iii) any related interest and penalties (collectively, “Transfer
Taxes”), in each case imposed or assessed as a result of the provision of Services by the Provider. In particular, but without prejudice to the generality of the foregoing, all amounts payable pursuant to this Agreement are exclusive of
amounts in respect of VAT. Where any taxable supply for VAT purposes is made pursuant to this Agreement by the Provider to the Recipient, the Recipient shall either (i) on receipt of a valid VAT invoice from the Provider, pay to the Provider
such additional amounts in respect of VAT as are chargeable on the supply of the services at the same time as payment is due for the supply of the services; or (ii) where required by legislation to do so, account directly to the relevant
Governmental Authority for any such VAT amounts. The Party required to account for Transfer Tax shall provide to the other Party evidence of the remittance of the amount of such Transfer Tax to the relevant Governmental Authority, including, without
limitation, copies of any Tax returns remitting such amount. The Provider agrees that it shall take commercially reasonable actions to cooperate with the Recipient in obtaining any refund, return, rebate, or the like of any Transfer Tax, including
by filing any necessary exemption or other similar forms, certificates, or other similar documents. The Recipient shall promptly reimburse the Provider for any costs incurred by the Provider or its Affiliates in connection with the Recipient
obtaining a refund or overpayment of refund, return, rebate, or the like of any Transfer Tax. For the avoidance of doubt, any applicable gross receipts-based or net income-based Taxes shall be borne by the Provider. 

  
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 (b) The Recipient shall be entitled to deduct and withhold Taxes required by any Governmental
Authority to be withheld on payments made pursuant to this Agreement. To the extent any amounts are so withheld, except for amounts withheld (i) attributable to the failure of the Provider to comply with the next sentence of this
Section 4.02(b), (ii) attributable to backup withholding under Section 3406 of the Code or any similar provision of state, local, or non-U.S. law, or (iii) pursuant to FATCA, the Recipient shall (A) pay, in addition
to the amount otherwise due to the Provider under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by the Provider will equal the full amount the Provider would have received had no such
deduction or withholding been required, (B) pay such deducted and withheld amount to the proper Governmental Authority, and (C) promptly provide to the Provider evidence of such payment to such Governmental Authority. The Provider shall,
prior to the date of any payment to be made pursuant to this Agreement, at the request of the Recipient, use commercially reasonable efforts to provide the Recipient any certificate or other documentary evidence that (1) is required by a
Governmental Authority and/or (2) the Provider is entitled by a Governmental Authority to provide in order to reduce the amount of any Taxes that may be deducted or withheld from such payment and the Recipient agrees to accept and act in
reliance on any such duly and properly executed certificate or other applicable documentary evidence. 
 (c) If the Provider
(i) receives any refund (whether by payment, offset, credit or otherwise) or (ii) utilizes any overpayment, of Taxes that are borne by Recipient pursuant to this Agreement, then the Provider shall promptly pay, or cause to be paid, to the
Recipient the amount of such refund or overpayment (including, for the avoidance of doubt, any interest or other amounts received with respect to such refund or overpayment), net of any additional Taxes the Provider incurs or will incur as a result
of the receipt of such refund or such overpayment. 
 ARTICLE V 

STANDARD FOR SERVICE 

Section 5.01. Standard for Service. 

(a) The Provider agrees (i) to perform the Services with at least substantially the same nature, quality, standard of care and service
levels at which the same or similar services were performed by or on behalf of the Provider prior to the Effective Time or, if not so previously provided, then substantially similar to that which are applicable to similar services provided to the
Provider’s Affiliates or other business components; and (ii) upon receipt of written notice from the Recipient identifying any outage, interruption or other failure of any Service, to respond to such outage, interruption or other failure
of such Service in a manner that is at least substantially similar to the manner in which such Provider or its Affiliates responded to any outage, interruption or other failure of the same or similar services prior to the Effective Time. The Parties
acknowledge that an outage, interruption or other failure of any Service shall not be deemed to be a breach of the provisions of this Section 5.01 so long as the applicable Provider complies with the foregoing clause (ii). In addition,
the Provider will perform all Services in a professional and workmanlike manner. 
 (b) Nothing in this Agreement shall require the Provider
to perform or cause to be performed any Service to the extent the manner of such performance would constitute a 

  
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violation of applicable Law or any existing contract or agreement with a third-party. If the Provider is or becomes aware of any such potential violation on the part of the Provider, the Provider
shall promptly send a written notice to the Recipient of any such potential violation. The Parties each agree to cooperate and use commercially reasonable efforts to obtain any necessary third-party consents required under any existing contract or
agreement with a third-party to allow the Provider to perform or cause to be performed any Service in accordance with the standards set forth in this Section 5.01. Any costs and expenses incurred by either Party in connection with
obtaining any such third-party consent that is required to allow the Provider to perform or cause to be performed any Service shall be solely the responsibility of the Recipient. If, with respect to a Service, the Parties, despite the use of such
commercially reasonable efforts, are unable to obtain a required third-party consent or the performance of such Service by the Provider would continue to constitute a violation of applicable Laws, the Provider shall use commercially reasonable
efforts in good faith to provide such Services in a manner as closely as possible to the standards described in this Section 5.01. 

Section 5.02. Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT
THE SERVICES ARE PROVIDED AS-IS, THAT EACH RECIPIENT ASSUMES ALL RISKS AND LIABILITY ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON THE SERVICES AND EACH PARTY, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MAKES NO OTHER
REPRESENTATION OR WARRANTY WITH RESPECT THERETO. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE SERVICES,
WHETHER EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NONINFRINGEMENT, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS OF ANY SERVICE
FOR A PARTICULAR PURPOSE. 
 Section 5.03. Compliance with Laws and Regulations. Each Party shall be responsible for its own
compliance and its subcontractors’ compliance with any and all Laws applicable to its performance under this Agreement. No Party will knowingly take any action in violation of any such applicable Law that results in liability being imposed on
the other Party. 
 ARTICLE VI 

REPRESENTATIONS; LIMITED LIABILITY AND INDEMNIFICATION 

Section 6.01. Representations. The Provider represents, warrants and covenants with respect to itself and the Recipient
represents, warrants and covenants with respect to itself: 
 (a) this Agreement is a legal and valid obligation binding upon such Person
and enforceable in accordance with its terms, and that such Person will undertake and perform all of its obligations as set forth in this Agreement; and 

(b) all of such Person’s personnel are, and shall at all times during the Term remain, sufficient in number and qualification to perform
or receive, as applicable, the Services. 

  
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 Section 6.02. Consequential and Other Damages. Notwithstanding anything to the
contrary contained in the SDA or this Agreement, the Provider shall not be liable to the Recipient or any of its Affiliates or Representatives, whether in contract, tort (including negligence and strict liability) or otherwise, at law or equity, for
any special, indirect, incidental, punitive or consequential damages whatsoever (including lost profits or damages calculated on multiples of earnings approaches), which in any way arise out of, relate to or are a consequence of, the performance or
nonperformance by the Provider (including any Affiliates and Representatives of the Provider and any unaffiliated third-party providers, in each case, providing the applicable Services) under this Agreement or the provision of, or failure to
provide, any Services under this Agreement, including with respect to loss of profits, business interruptions or claims of customers. 

Section 6.03. Limitation of Liability. THE LIABILITIES OF EACH PARTY AND ITS AFFILIATES AND REPRESENTATIVES, COLLECTIVELY, UNDER
THIS AGREEMENT FOR ANY ACT OR FAILURE TO ACT IN CONNECTION HEREWITH (INCLUDING THE PERFORMANCE OR BREACH OF THIS AGREEMENT), OR FROM THE SALE, DELIVERY, PROVISION OR USE OF ANY SERVICES PROVIDED UNDER OR CONTEMPLATED BY THIS AGREEMENT, WHETHER IN
CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE, AT LAW OR EQUITY, SHALL NOT EXCEED THE TOTAL AGGREGATE AMOUNTS PAID OR PAYABLE TO EMERGENT BY APTEVO PURSUANT TO THIS AGREEMENT DURING THE ONE YEAR PRECEDING THE EVENT THAT
GAVE RISE TO SUCH LIABILITY. 
 Section 6.04. Obligation To Reperform; Liabilities. In the event of any breach of this Agreement
by any Provider with respect to the provision of any Services (with respect to which the Provider can reasonably be expected to re-perform in a commercially reasonable manner), the Provider shall (a) promptly correct in all material respects
such error, defect or breach or re-perform in all material respects such Services at the request of the Recipient and at the sole cost and expense of the Provider and (b) subject to the limitations set forth in Section 6.02 and
Section 6.03, reimburse the Recipient and its Affiliates and Representatives for Liabilities attributable to such breach by the Provider. The remedy set forth in this Section 6.04 shall be the sole and exclusive remedy of the
Recipient for any such breach of this Agreement. Any request for re-performance in accordance with this Section 6.04 by the Recipient must be in writing and specify in reasonable detail the particular error, defect or breach, and such
request must be made no more than two (2) months from the date such error, defect or breach becomes apparent or should have reasonably become apparent to the Recipient. 

Section 6.05. Release and Recipient Indemnity. Subject to Section 6.02, each Recipient hereby releases the applicable
Provider and its Affiliates and Representatives (each, a “Provider Indemnified Party”), and each Recipient hereby agrees to indemnify, defend and hold harmless each such Provider Indemnified Party from and against (a) all
Liabilities arising from, relating to or in connection with, in each case to the extent suffered, sustained or incurred by the Provider Indemnified Party pursuant to a Third-Party Claim, the provision of any Services by Provider hereunder or the use
of any Services by any Recipient or any of its Affiliates, Representatives or other Persons, except in each case to the extent that such Liabilities arise out of, relate to or are a consequence of the applicable Provider Indemnified Party’s bad
faith, gross negligence or willful misconduct, and (b) all Liabilities arising from, relating to or in connection with a breach by any Recipient of its obligations under this Agreement. 

  
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 Section 6.06. Provider Indemnity. Subject to Section 6.02, each Provider
hereby agrees to indemnify, defend and hold harmless the applicable Recipient and its Affiliates and Representatives (each a “Recipient Indemnified Party”), from and against all Liabilities arising from, relating to or in connection
with, in each case to the extent suffered, sustained or incurred by the Recipient Indemnified Party pursuant to a Third-Party Claim, the provision of any Services by Provider hereunder or the use of any Services by any Recipient or any of its
Affiliates, Representatives or other Persons, in each case to the extent that such Liabilities arise out of, relate to or are a consequence of the applicable Provider’s bad faith, gross negligence or willful misconduct. 

Section 6.07. Indemnification Procedures. The provisions of Sections 4.4 and 4.5 of the SDA shall govern claims for
indemnification under this Agreement. 
 Section 6.08. Liability for Payment Obligations. Nothing in this ARTICLE VI
shall be deemed to eliminate or limit, in any respect, Aptevo’s express obligation in this Agreement to pay Service Charges and Reimbursement Charges for Services rendered in accordance with this Agreement. 

Section 6.09. Exclusion of Other Remedies. Notwithstanding anything to the contrary contained in the SDA, the provisions of
Section 6.04, Section 6.05 and Section 6.06 of this Agreement shall, to the maximum extent permitted by applicable Law, be the sole and exclusive remedies of the Provider Indemnified Parties and the Recipient
Indemnified Parties, as applicable, for any claim, loss, damage, expense or liability, whether arising from statute, principle of common or civil law, principles of strict liability, tort, contract or otherwise under this Agreement. 

Section 6.10. Confirmation. Neither Party excludes responsibility for any liability which cannot be excluded pursuant to
applicable Law. 
 ARTICLE VII 

TERM AND TERMINATION 

Section 7.01. Term and Termination. 

(a) This Agreement shall commence immediately upon the Effective Time and shall terminate upon the earliest to occur of: (i) the second (2nd) anniversary of the Effective Time, (ii) the last date on which either Party is obligated to provide any Service to the other Party in accordance with the terms of this Agreement and the
Schedules or (iii) the mutual written agreement of the Parties to terminate this Agreement in its entirety. 

  
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 (b) Without prejudice to a Recipient’s rights with respect to a Force Majeure, a Recipient
may from time to time terminate this Agreement with respect to any individual Service or a portion thereof: 
 (i) for any reason or no
reason, upon providing the requisite prior written notice to the Provider pursuant to the Schedules and in any event, at least thirty (30) days’ prior notice; provided, however, that the Recipient shall pay to the Provider
the necessary and reasonable documented out-of-pocket costs incurred prior to Provider’s receipt of such notice or in connection with the wind down of such Service other than any employee severance and relocation expenses; or 

(ii) if the Provider of such Service has failed to perform any of its material obligations under this Agreement with respect to such Service,
and such failure continues to exist forty-five (45) days after receipt by the Provider of written notice of such failure from the Recipient. 

(c) Without prejudice to a Provider’s rights with respect to a Force Majeure, Provider may terminate this Agreement with respect to the
entirety of any individual Service but not a portion thereof if the Recipient of such Service (i) has failed to pay Service Charges or Reimbursement Charges or any other amounts due under this Agreement with respect to such Service, and such
failure shall continue to exist twenty (20) business days after receipt by the Recipient of written notice of such failure to pay from the Provider, or (ii) has failed to perform any of its other material obligations under this Agreement
with respect to such Service, and such failure shall continue to exist forty-five (45) days after receipt by the Recipient of written notice of such failure from the Provider. 

In the event that any Service is terminated other than at the end of a month, the Service Charge associated with such Service shall be
pro-rated appropriately. The Parties acknowledge that there may be interdependencies among the Services being provided under this Agreement that may not be identified on the applicable Schedules and agree that, if the Provider’s ability to
provide a particular Service in accordance with this Agreement is materially and adversely affected by the termination of another Service in accordance with Section 7.01(b)(i), then the Parties shall negotiate in good faith to amend the
Schedule relating to such affected continuing Service, which amendment shall be in writing and consistent with the terms of, and the pricing methodology used for, comparable services. 

Section 7.02. Effect of Termination. Upon termination of any Service pursuant to this Agreement, the Provider of the terminated
Service will have no further obligation to provide the terminated Service, and the relevant Recipient will have no obligation to pay any future Service Charges relating to any such Service; provided, however, that the Recipient shall
remain obligated to the relevant Provider for the (a) Service Charges and Reimbursement Charges owed and payable in respect of Services provided prior to the effective date of termination and (b) any applicable charges described in
Section 7.01(b)(i), which charges shall be payable only in the event that the Recipient terminates any Service pursuant to Section 7.01(b)(i). In connection with the termination of any Service, the provisions of this
Agreement not relating solely to such terminated Service shall survive any such termination, and in connection with a termination of this Agreement, ARTICLE I, Section 4.02, Section 4.03, Section 5.02, ARTICLE
VI (including liability in respect of any indemnifiable Liabilities under this Agreement arising or occurring on or prior to the date of termination), ARTICLE VII, ARTICLE VIII, all confidentiality obligations under this Agreement
and liability for all due and unpaid Service Charges and Reimbursement Charges and any applicable charges payable pursuant to Section 7.01(b)(i), shall continue to survive indefinitely. 

  
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 Section 7.03. Force Majeure. 

(a) Neither Party (nor any Person acting on its behalf) shall have any liability or responsibility for failure to fulfill any obligation (other
than a payment obligation) under this Agreement so long as and to the extent to which the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of a Force Majeure; provided, however, that
(i) such Party (or such Person) shall have exercised commercially reasonable efforts to minimize the effect of such Force Majeure on its obligations; and (ii) the nature, quality and standard of care that the Provider shall provide in
delivering a Service after a Force Majeure shall be substantially the same as the nature, quality and standard of care that the Provider provides to its Affiliates with respect to such Service. In the event of an occurrence of a Force Majeure, the
Party whose performance is affected thereby shall give notice of suspension as soon as reasonably practicable to the other stating the date and extent of such suspension and the cause thereof, and such Party shall resume the performance of such
obligations as soon as reasonably practicable after the removal of such cause. 
 (b) During the period of a Force Majeure affecting the
Provider, the Recipient shall be entitled to permanently terminate such Service(s) (and, in any event, shall be relieved of the obligation to pay Service Charges and Reimbursement Charges for such Services(s) throughout the duration of such Force
Majeure) if a Force Majeure shall continue to exist for more than twenty (20) consecutive days, it being understood that the Recipient shall not be required to provide any advance notice of such termination to the Provider or pay any charges in
connection therewith. 
 ARTICLE VIII 

DISPUTE RESOLUTION; SERVICES MANAGERS 

Notwithstanding anything to the contrary in the SDA, any Dispute (as defined below) shall be resolved exclusively in accordance with the
following provisions of this ARTICLE VIII: 
 Section 8.01. Disputes. Any controversy or claim arising out of or relating
to this Agreement, or the breach hereof (a “Dispute”), shall be resolved: (a) first, by negotiation between the applicable Emergent Local Service Manager and the Aptevo Local Service Manager, then (if there remains a Dispute)
negotiation between the Emergent Services Manager and the Aptevo Services Manager (each as defined below), and then (if there remains a Dispute) negotiation by and among the members of the Transition Committee, with the possibility of mediation as
provided in Section 8.02; and (b) then, if negotiation and mediation fail, by binding arbitration as provided in Section 8.03. Each Party agrees on behalf of itself and each of its Subsidiaries that the procedures set
forth in this ARTICLE VIII shall be the exclusive means for resolution of any Dispute. The initiation of mediation or arbitration hereunder will toll the applicable statute of limitations for the duration of any such proceedings. 

Section 8.02. Negotiation and Mediation. If either Party serves written notice of a Dispute upon the other party (a
“Dispute Notice”), the Parties will first attempt to resolve such 

  
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Dispute by direct discussions and negotiation (including as set forth in Section 8.01). If the parties to the Dispute agree, the Parties may also attempt to resolve the Dispute by a
mediation administered by the International Institute for Conflict Prevention & Resolution (“CPR”) under its Mediation Procedure. 

Section 8.03. Arbitration.  

(a) If a Dispute is not resolved within forty-five (45) days (or later if mutually agreed by the Parties) after the service of a Dispute
Notice, either Party shall have the right to commence arbitration. The arbitration shall be administered by the CPR pursuant to its Arbitration Rules and Procedures. References herein to any arbitration rules or procedures mean such rules or
procedures as amended from time to time, including any successor rules or procedures, and references herein to the CPR include any successor thereto. The arbitration shall be before three (3) arbitrators. Each Party shall designate one
arbitrator in accordance with the “screened” appointment procedure provided in Rule 5.4 of the CPR Rules. The two Party-appointed arbitrators will select the third, who will serve as the panel’s chair or president. This arbitration
provision, and the arbitration itself, shall be governed by the Laws of the State of Delaware and the Federal Arbitration Act, 9 U.S.C. §§ 1-16. 

(b) Consistent with the expedited nature of arbitration, each Party will, upon the written request of the other Party, promptly provide the
other with copies of documents on which the producing Party may rely in support of or in opposition to any claim or defense. At the request of a Party, the arbitrators shall have the discretion to order examination by deposition of witnesses to the
extent the arbitrator deems such additional discovery relevant and appropriate. Depositions shall be limited to a maximum of five per Party and shall be held within forty-five (45) days of the grant of a request. Additional depositions may be
scheduled only with the permission of the arbitrators, and for good cause shown. Each deposition shall be limited to a maximum of one day’s duration. All objections are reserved for the arbitration hearing except for objections based on
privilege and proprietary or confidential information. The Parties shall not utilize any other discovery mechanisms, including international processes and U.S. federal statutes, to obtain additional evidence for use in the arbitration. Any Dispute
regarding discovery, or the relevance or scope thereof, shall be determined by the arbitrators, which determination shall be conclusive. All discovery shall be completed within sixty (60) days following the appointment of the arbitrators. All
costs and fees relating to the retrieval, review and production of electronic discovery shall be paid by the Party requesting such discovery. 

(c) The panel of arbitrators shall have no power to award non-monetary or equitable relief of any sort. The arbitrators shall have no power or
authority, under the CPR Rules for Non-Administered Arbitration or otherwise, to relieve the Parties from their agreement hereunder to arbitrate or otherwise to amend or disregard any provision of this Agreement. The award of the arbitrators shall
be final, binding and the sole and exclusive remedy to the Parties. Either Party may seek to confirm and enforce any final award entered in arbitration, in any court of competent jurisdiction. 

(d) Absent fraud or manifest error, any arbitral award issued hereunder shall be final and binding on the Parties. 

  
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 (e) Except as may be required by Law or any applicable rules and regulations of any stock
exchange, neither a Party nor an arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both Parties. 

Section 8.04. Interim Relief. At any time during the resolution of a Dispute between the Parties, either Party has the right to
apply to any court of competent jurisdiction for interim relief, including pre-arbitration attachments or injunctions, necessary to preserve the Parties’ rights or to maintain the Parties’ relative positions until such time as the
arbitration award is rendered or the Dispute is otherwise resolved. 
 Section 8.05. Remedies. The arbitrators shall have no
authority or power to limit, expand, alter, amend, modify, revoke or suspend any condition or provision of this Agreement nor any right or power to award punitive, exemplary or treble damages (or other multiple damages that are not actual damages).

 Section 8.06. Expenses. Each Party shall bear its own costs, expenses and attorneys’ fees in pursuit and resolution of
any Dispute; provided, however, that, in the event of any arbitration with respect to any Dispute pursuant to Section 8.03 in which the arbitrator issues an arbitral award in an amount that is within ten percent (10%) of the amount
of the most recent bona fide written settlement offer submitted by a Party and rejected by a Party in connection with such Dispute, then the Party that rejected such settlement offer shall bear both Parties’ costs, expenses and
attorneys’ fees incurred in connection with such arbitration (including the fees and expenses of any arbitrator). 
 Section 8.07.
Continuation of Services and Commitments. Unless otherwise agreed in writing, the Parties shall, and shall cause their respective Subsidiaries to, continue to honor all commitments under this Agreement to the extent required by this Agreement
during the course of dispute resolution pursuant to the provisions of this ARTICLE VIII with respect to all matters related to such Dispute. 

Section 8.08. Transition Services Managers. 

(a) Emergent hereby appoints and designates the individual holding the Emergent position set forth on Exhibit A to act as its initial
services manager (the “Emergent Services Manager”), who will be directly responsible for coordinating and managing the delivery of the Services and have authority to act on Emergent’s behalf with respect to matters relating to
the provision of Services under this Agreement. The Emergent Services Manager will be a member of the Transition Committee established pursuant to Section 2.14 of the SDA. The Emergent Services Manager will work with the personnel of the
Emergent Group to periodically address issues and matters raised by Aptevo relating to the provision of Services under this Agreement. Notwithstanding the requirements of Section 9.06, all communications from Aptevo to Emergent pursuant
to this Agreement regarding routine matters involving a Service shall be made through the individual specified as the local service manager (the “Emergent Local Service Manager”) with respect to such Service on the applicable
Schedule or such other individual as may be specified by the Emergent Services Manager in writing and delivered to Aptevo by email or facsimile transmission with receipt confirmed. Emergent shall notify Aptevo of the appointment of a different
Emergent Services Manager or Emergent Local Service Manager(s), if necessary, in accordance with Section 9.06. 

  
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 (b) Aptevo hereby appoints and designates the individual holding the Aptevo position set forth on
Exhibit A to act as its initial services manager (the “Aptevo Services Manager”), who will be directly responsible for coordinating and managing the receipt of the Services and have authority to act on Aptevo’s behalf
with respect to matters relating to this Agreement. The Aptevo Services Manager will be a member of the Transition Committee established pursuant to Section 2.14 of the SDA. The Aptevo Services Manager will work with the personnel of the
Aptevo Group to periodically address issues and matters raised by Emergent relating to this Agreement. Notwithstanding the requirements of Section 9.06, except for in-person communications made during the course of performing and
receiving the Services, all communications from Emergent to Aptevo pursuant to this Agreement regarding routine matters involving a Service shall be made through the individual specified as the local service manager (the “Aptevo Local
Service Manager”) with respect to such Service on the applicable Schedule or as specified by the Aptevo Services Manager in writing and delivered to Emergent by email or facsimile transmission with receipt confirmed. Aptevo shall notify
Emergent of the appointment of a different Aptevo Services Manager or Aptevo Local Service Manager(s), if necessary, in accordance with Section 9.06. 

ARTICLE IX 
 GENERAL
PROVISIONS 
 Section 9.01. Provisions from the SDA. The Parties agree and acknowledge that this Agreement is an Ancillary
Agreement and, therefore, that certain provisions of the SDA apply hereto (including any capitalized terms used but not defined herein), provided, however, that if there is any conflict between the terms of this Agreement and the terms of the SDA,
the terms of this Agreement apply with respect to the subject matter hereof. Sections 11.1 (Counterparts; Entire Agreement; Corporate Power), 11.2 (Governing Law), 11.6 (Severability), 11.10 (Headings), 11.11 (Survival of Covenants), 11.12 (Waivers
of Default), 11.14 (Amendments) and 11.16 (No Set Off) of the SDA are incorporated herein by reference, mutatis mutandis. 

Section 9.02. No Agency. Nothing in this Agreement shall be deemed in any way or for any purpose to constitute any Party an agent
of an unaffiliated party in the conduct of such other party’s business. A Provider of any Service under this Agreement shall act as an independent contractor and not as the agent of the Recipient in performing such Service, maintaining control
over its employees, its subcontractors and their employees and complying with all withholding of income at source requirements, whether federal, national, state, local or foreign. 

Section 9.03. Treatment of Confidential Information. Each Party shall, and shall cause its Affiliates and its and their
Representatives to, treat all Confidential Information of the other Party in accordance with Section 7.7 of the SDA. For the avoidance of doubt, all proprietary or Confidential Information of (a) Aptevo or any Recipient that is received or
accessed by any Provider or its personnel, agents or Representatives in the course of performing obligations under this Agreement constitutes Aptevo’s Confidential Information and (b) Emergent or any Provider that is received or accessed
by any Recipient or its personnel, agents or Representatives in the course of performing obligations under this Agreement constitutes Emergent’s Confidential Information. 

  
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 Section 9.04. Further Assurances. Each Party covenants and agrees that, without any
additional consideration, it shall execute and deliver any further legal instruments and perform any acts that are or may become necessary to effectuate this Agreement. 

Section 9.05. Dispute Resolution. Any Dispute shall be resolved in accordance with the procedures set forth in Article VIII of the
SDA, which shall be the sole and exclusive procedures for the resolution of any such Dispute unless otherwise specified herein or in Article VIII of the SDA. 

Section 9.06. Notices. Except with respect to routine communications by the Emergent Services Manager, Aptevo Services Manager,
Emergent Local Services Manager and Aptevo Local Services Manager under Section 8.08, all notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be given or made (and shall be
deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile or electronic transmission with receipt confirmed (followed by delivery of an original via overnight courier service) or by
registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 9.06): 
  

	 	(i)	if to Emergent: 

 [●] 

with copies to: 
 [●] 

 

	 	(ii)	if to Aptevo: 

 [●] 

with copies to: 
 [●] 

Section 9.07. Entire Agreement. This Agreement, together with the documents referenced herein (including the SDA, the Quality
Agreement and any other Ancillary Agreements) contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and
conversations with respect to such subject matter and there are no agreements or understandings between the Parties other than those set forth or referred to herein or therein. 

Section 9.08. No Third-Party Beneficiaries. Except as provided in ARTICLE VI with respect to Provider Indemnified Parties
and Recipient Indemnified Parties, (a) the provisions of 

  
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this Agreement are solely for the benefit of the Parties and are not intended to confer upon any Person except the Parties any rights or remedies hereunder, and (b) there are no third-party
beneficiaries of this Agreement and this Agreement shall not provide any third person with any remedy, claim, liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 9.09. Interpretation. Interpretation of this Agreement shall be governed by the following rules of construction:
(a) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other genders as the context requires; (b) the terms “hereof,” “herein,” and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all of the Schedules and Exhibits hereto and thereto) and not to any particular provision of this
Agreement; (c) Article, Section, Exhibit and Schedule references are to the Articles, Sections, Exhibits and Schedules to this Agreement unless otherwise specified; (d) references to “$” shall mean U.S. dollars; (e) the word
“including” and words of similar import when used in this Agreement shall mean “including, without limitation”; (f) the word “or” shall not be exclusive; (g) unless expressly stated to the contrary in this
Agreement, all references to “the date hereof,” “the date of this Agreement,” “hereby” and “hereupon” and words of similar import shall all be references to [●], 2016, regardless of any amendment or
restatement hereof; (h) the verb “will” means “shall”; (i) except where the context otherwise requires, references to Subsidiaries of Aptevo refers to Persons that will be Subsidiaries of Aptevo upon consummation of the
Distribution; (j) Emergent and Aptevo have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the
Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement or any interim drafts of this Agreement; (k) a reference to any Person includes
such Person’s successors and permitted assigns; (l) any reference to “days” means calendar days unless business days are expressly specified; and (m) when calculating the period of time before which, within which or
following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded, and if the last day of such period is not a business day, the period shall end on the
next succeeding business day. 
 Section 9.10. Assignability. This Agreement shall not be assigned by operation of Law or
otherwise without the prior written consent of Emergent and Aptevo, except that each Party may: 
 (a) assign all of its rights and
obligations under this Agreement to any of its Subsidiaries (so long as it remains a Subsidiary); provided, that in connection with any such assignment, the assigning Party provides a guarantee to the non-assigning Party (in a form reasonably agreed
upon) for any liability or obligation of the assignee under this Agreement; and 
 (b) in connection with the sale, transfer or other
divestiture to an acquiror (that, in the case of an assignment by a Recipient, is not a competitor of the Provider) of all or substantially all of an entire product line, division or other business unit to which this Agreement relates, assign to the
acquiror of such product line, division or other business unit its rights and obligations as a Recipient (in the case of an assignment by a Recipient) or a Provider (in the case of an assignment by a Provider) under this Agreement to the extent
related to such product line, 

  
 - 20 - 

 
division or other business unit; provided that (i) in connection with any such assignment, the assigning Party provides a guarantee to the non-assigning Party (in a form reasonably
agreed upon) for any liability or obligation of the assignee under this Agreement, (ii) any and all costs and expenses incurred by either Party in connection with such assignment (including in connection with clause (iii) of this proviso)
shall be borne solely by the assigning Party, and (iii) the Parties shall in good faith negotiate any amendments to this Agreement, including the Schedules hereto, that may be necessary or appropriate in order to assign such Services. 

Section 9.11. Non-Recourse. No past, present or future director, officer, employee, incorporator, member, partner, shareholder,
Affiliate, agent, attorney or representative of either Emergent or Aptevo or their Affiliates shall have any liability for any Liabilities of Emergent or Aptevo, respectively, under this Agreement or for any claims based on, in respect of, or by
reason of, the transactions contemplated by this Agreement. 
 Section 9.12. Expenses. Except as expressly set forth in this
Agreement, all fees, costs and expenses incurred in connection with the preparation, execution, delivery and implementation of this Agreement will be borne by the Party incurring such fees, costs or expenses. 

[The remainder of this page is intentionally left blank.] 

  
 - 21 - 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the date first
written above by their respective duly authorized officers. 
  

			
	EMERGENT BIOSOLUTIONS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	APTEVO THERAPEUTICS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Transition Services Agreement] 

 Exhibit A 

Services Managers 

 Exhibit B 

Quality AgreementEX10.3

 Exhibit 10.3 
  

 
 EMPLOYEE MATTERS AGREEMENT 

BY AND BETWEEN 

EMERGENT BIOSOLUTIONS INC. 

AND 
 APTEVO
THERAPEUTICS INC. 
 DATED AS OF [●], 2016 

 TABLE OF CONTENTS 

 

											
	 	 	 	 	 	 	 	  	Page	 
			
	 ARTICLE I
	 	DEFINITIONS	  	 	2	  
					
		 	Section 1.01	 		 	Defined Terms	  	 	2	  
			
	ARTICLE II	 	GENERAL PRINCIPLES	  	 	6	  
					
		 	Section 2.01	 		 	Allocation of Liabilities	  	 	6	  
		 	Section 2.02	 		 	Employment with Aptevo	  	 	7	  
		 	Section 2.03	 		 	Establishment of Aptevo Plans	  	 	8	  
			
	ARTICLE III	 	U.S QUALIFIED RETIREMENT PLAN	  	 	8	  
					
		 	Section 3.01	 		 	401(k) Plan	  	 	8	  
			
	ARTICLE IV	 	WELFARE AND FRINGE BENEFIT PLANS	  	 	9	  
					
		 	Section 4.01	 		 	Health and Welfare Plans	  	 	9	  
		 	Section 4.02	 		 	COBRA and HIPAA	  	 	11	  
		 	Section 4.03	 		 	Vacation, Holidays and Leaves of Absence	  	 	12	  
		 	Section 4.04	 		 	Severance and Unemployment Compensation	  	 	12	  
		 	Section 4.05	 		 	Workers’ Compensation	  	 	12	  
			
	ARTICLE V	 	EQUITY, INCENTIVE, AND EXECUTIVE COMPENSATION PROGRAMS	  	 	12	  
					
		 	Section 5.01	 		 	Equity Incentive Programs	  	 	12	  
		 	Section 5.02	 		 	Annual Incentive Plans and Executive Severance Arrangements	  	 	15	  
			
	ARTICLE VI	 	MISCELLANEOUS	  	 	15	  
					
		 	Section 6.01	 		 	Transfer of Records and Information	  	 	15	  
		 	Section 6.02	 		 	Cooperation	  	 	15	  
		 	Section 6.03	 		 	Employee Agreements	  	 	15	  
		 	Section 6.04	 		 	Repayment Assets	  	 	16	  
		 	Section 6.05	 		 	Compliance	  	 	16	  
		 	Section 6.06	 		 	Preservation of Rights	  	 	16	  
		 	Section 6.07	 		 	Transition Services	  	 	16	  
		 	Section 6.08	 		 	Reimbursement	  	 	16	  
		 	Section 6.09	 		 	Not a Change in Control	  	 	17	  
		 	Section 6.10	 		 	Incorporation by Reference	  	 	17	  

  
 - i - 

											
		 	Section 6.11	 		 	Limitation on Enforcement	  	 	17	  
		 	Section 6.12	 		 	Further Assurances and Consents	  	 	17	  
		 	Section 6.13	 		 	Third Party Consent	  	 	17	  
		 	Section 6.14	 		 	Effect if Distribution Does Not Occur	  	 	18	  
		 	Section 6.15	 		 	Disputes	  	 	18	  
		 	Section 6.16	 		 	Schedules	  	 	18	  

  
 - ii - 

 Schedules 
  

					
		 	Schedule 1.01	  	Aptevo Employees
		 	Schedule 5.01	  	Alternative Equity Award Treatment

  
 - iii - 

 EMPLOYEE MATTERS AGREEMENT 

This EMPLOYEE MATTERS AGREEMENT, dated as of
[                    ], 2016 (this Agreement”), is made and entered into by and between Emergent BioSolutions Inc., a Delaware
corporation (“Emergent”), and Aptevo Therapeutics Inc., a Delaware corporation (“Aptevo”). Aptevo and Emergent are referred to together as the “Parties” and individually as a
“Party.” Capitalized terms used herein shall have the respective meanings assigned to them in Article I or elsewhere in this Agreement and capitalized terms used in this Agreement but not otherwise defined herein shall have
the meaning assigned to them in the Separation and Distribution Agreement. 
 RECITALS: 

WHEREAS, Emergent, directly or indirectly, currently owns and operates both the Emergent Business and the Aptevo Business; 

WHEREAS, the Emergent Board has determined that it is in the best interests of Emergent and its shareholders that the Aptevo Business be
operated by a newly incorporated publicly traded company; 
 WHEREAS, to effect the foregoing, the Separation and Distribution Agreement
provides for the contribution from Emergent to Aptevo of certain Assets, the assumption by Aptevo of certain Liabilities from Emergent, the distribution by Emergent of Aptevo Common Shares to Emergent shareholders, and the execution and delivery of
this Agreement and certain other agreements to facilitate and provide for the foregoing, in each case subject to the terms and conditions set forth herein and therein; and 

WHEREAS, this Agreement describes the principal employment, compensation and employee benefit plan arrangements between the Parties. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as
follows: 
 AGREEMENT 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Defined Terms. The following capitalized terms as used in this Agreement shall have the meaning set forth
below: 
 “Agreement” shall mean this Employee Matters Agreement and any Schedule hereto. 

“Aptevo” shall have the meaning set forth in the first sentence of this Agreement. 

“Aptevo 401(k) Plan” shall have the meaning set forth in Section 3.01(a). 

  
 2 

 “Aptevo Benefit Plan” shall mean, following the Distribution, each Benefit Plan
sponsored by, maintained by, or contributed to by the Aptevo Group. 
 “Aptevo Board” shall mean the board of directors of
Aptevo. 
 “Aptevo Employee” shall mean any Employee of the Aptevo Business as of immediately prior to the Distribution
Date as identified on Schedule 1.01 hereto and any other individual identified on Schedule 1.01 hereto. 
 “Aptevo
Equity Awards” shall mean, collectively, the Aptevo Options and Aptevo RSUs. 
 “Aptevo Health and Welfare Plan”
shall mean, following the Distribution, a Health and Welfare Plan sponsored by, maintained by, or contributed to by the Aptevo Group. 

“Aptevo Price Ratio” shall mean the quotient obtained by dividing the Aptevo Stock Value by the Emergent Stock Value. 

“Aptevo Share Ratio” shall mean the quotient obtained by dividing the Emergent Stock Value by the Aptevo Stock Value. 

“Aptevo Stock Value” shall mean the opening per-share price, as reported on the NASDAQ Global Market, of an Aptevo Common
Share on the first trading day following completion of the Distribution on which “regular way” trading in Aptevo Common Shares begins. 

“Benefit Plan” shall mean any (i) “employee benefit plan,” as defined in ERISA Section 3(3) (whether
or not such plan is subject to ERISA); and (ii) employment, compensation, severance, salary continuation, bonus, thirteenth month, incentive, retirement, thrift, superannuation, savings, pension, workers’ compensation, termination benefit
(including termination notice requirements), termination indemnity, other indemnification, supplemental unemployment benefit, redundancy pay, profit sharing, deferred compensation, stock ownership, stock purchase, stock option, stock appreciation
right, restricted stock, “phantom” stock, performance share, restricted stock unit, other stock-based incentive, change in control, paid time off, perquisite, fringe benefit, vacation, disability, life, or other insurance, death benefit,
hospitalization, medical, or other compensatory or benefit plan, program, fund, agreement, arrangement, or policy of any kind (whether written or oral, qualified or nonqualified, funded or unfunded, foreign or domestic, currently effective or
terminated), and any trust, escrow or similar agreement related thereto, whether or not funded, excluding any plan, program, fund, agreement, arrangement, or policy (other than for workers’ compensation Liabilities) that is mandated by and
maintained solely pursuant to applicable Law. 
 “COBRA” shall mean coverage required by Code Section 4980B or ERISA
Section 601 et. seq. 
 “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended. 

“Emergent” shall have the meaning set forth in the first sentence of this Agreement. 

  
 3 

 “Emergent 401(k) Plan” shall mean the Emergent BioSolutions, Inc. Employee
Deferred Compensation Plan. 
 “Emergent Benefit Plan” shall mean a Benefit Plan sponsored by, maintained by, or
contributed to by the Emergent Group. 
 “Emergent Board” shall mean the board of directors of Emergent. 

“Emergent Employee” shall mean any Employee other than an Aptevo Employee. 

“Emergent ESPP” shall mean the Emergent BioSolutions Inc. 2012 Employee Stock Purchase Plan. 

“Emergent Health and Welfare Plan” shall mean a Health and Welfare Plan sponsored by, maintained by, or contributed to by the
Emergent Group. 
 “Emergent Post-Distribution Stock Value” shall mean the opening per-share price, as reported on the
NYSE, of an Emergent Common Share on the first trading day following completion of the Distribution on which “regular way” trading in Aptevo Common Shares begins. 

“Emergent Price Ratio” shall mean the quotient obtained by dividing the Emergent Post-Distribution Stock Value by the
Emergent Stock Value. 
 “Emergent Share Ratio” shall mean the quotient obtained by dividing the Emergent Stock Value by
the Emergent Post-Distribution Stock Value. 
 “Emergent Stock Program” shall mean, any of, the Fourth Amended and Restated
Emergent BioSolutions Inc. 2006 Stock Incentive Plan, the Emergent BioSolutions Inc. Employee Stock Option Plan, as amended and restated, and any incentive compensation program or arrangement that governs the terms of equity-based incentive awards
assumed by the Emergent Group in connection with a corporate transaction and that is maintained by the Emergent Group immediately prior to the Distribution Date, and any sub-plans established thereunder. 

“Emergent Stock Value” shall mean the sum of the Emergent Post-Distribution Stock Value and the Aptevo Stock Value. 

“Employee” shall mean an current or former employee of the Emergent Group or the Aptevo Group, as applicable, including any
employee absent from work on account of vacation, jury duty, funeral leave, personal leave, sickness, short-term disability, long-term disability or workers’ compensation leave (in each case, unless treated as a separated employee for
employment purposes), military leave, family leave, pay continuation leave, or other approved leave of absence or for whom an obligation to recall, rehire or otherwise return to employment exists under a contractual obligation or Law. 

  
 4 

 “Employee Agreement” shall mean an employment contract or other letter agreement
between a member of the Emergent Group and an Aptevo Employee. 
 “Employee Recoupment Asset” shall mean an employer’s
right to repayment from an Employee in respect of a tax equalization payment, sign-on bonus payment, relocation expense payment, tuition payment, reimbursement, loan, or other similar item, including any agreement related thereto. 

“Employment Tax” shall mean withholding, payroll, social security, workers’ compensation, unemployment, disability and
any similar tax imposed by any Tax Authority or social security authority, and any interest, penalties, additions to tax, or additional amounts with respect to the foregoing imposed on any taxpayer or consolidated, combined, or unitary group of
taxpayers. With respect to any Employment Tax, the term “Tax Authority” shall mean the governmental entity or political subdivision thereof that imposes such Employment Tax, and the agency (if any) charged with the collection of
such Employment Tax for such entity or subdivision. 
 “ERISA” shall mean the U.S. Employee Retirement Income Security Act
of 1974, as amended. 
 “Health and Welfare Plan” shall mean any Benefit Plan established or maintained to provide, for
Employees who work primarily in the United States or their beneficiaries, through the purchase of insurance or otherwise, medical, dental, prescription, vision, short-term disability, long-term disability, death benefits, life insurance, accidental
death and dismemberment insurance, business travel accident insurance, employee assistance program, group legal services, wellness, cafeteria (including premium payment, health care flexible spending account, and dependent care flexible spending
account components), travel reimbursement, transportation, vacation benefits, apprenticeship or other training programs, day care centers, or prepaid legal services benefits, including any “employee welfare benefit plan” (as defined in
ERISA Section 3(1)) that is not a severance plan. 
 “HIPAA” shall mean the Health Insurance Portability and
Accountability Act of 1996, as amended. 
 “Incurred Claim” shall mean a Liability related to services or benefits provided
under a Benefit Plan, and shall be deemed to be incurred: (i) with respect to medical, dental, vision, and prescription drug benefits, upon the rendering of services giving rise to such Liability; (ii) with respect to death benefits, life
insurance, accidental death and dismemberment insurance, and business travel accident insurance, upon the occurrence of the event giving rise to such Liability; (iii) with respect to disability benefits, upon the date of disability, as
determined by the disability benefit insurance carrier or claim administrator, giving rise to such Liability; (iv) with respect to a period of continuous hospitalization, upon the date of admission to the hospital; and (v) with respect to
tuition reimbursement, upon completion of the requirements for such reimbursement. 

  
 5 

 “Option” shall mean (i) when immediately preceded by “Emergent,”
an option to purchase one or more Emergent Common Shares granted under an Emergent Stock Program and outstanding immediately prior to the Distribution Date (whether or not then exercisable); (ii) when immediately preceded by “Adjusted
Emergent,” an option to purchase one or more Emergent Common Shares adjusted in accordance with Section 5.01; and (iii) when immediately preceded by “Aptevo,” an option to purchase one or more Aptevo Common Shares
granted by Aptevo in accordance with Section 5.01. 
 “Party” shall have the meaning set forth in the second
sentence of this Agreement. 
 “RSU” shall mean (i) when immediately preceded by “Emergent,” a restricted
stock unit award granted pursuant to an Emergent Stock Program and outstanding immediately prior to the Distribution Date; (ii) when immediately preceded by “Adjusted Emergent,” a restricted stock unit award granted pursuant to an
Emergent Stock Program adjusted in accordance with Section 5.01; and (iii) when immediately preceded by “Aptevo,” a restricted stock unit award granted by Aptevo in accordance with Section 5.01. 

“Securities Act” shall mean the U.S. Securities Act of 1933, as amended. 

“Separation and Distribution Agreement” shall mean the Separation and Distribution Agreement by and between the Parties,
dated as of the date hereof. 
 “Transferred Employee” shall have the meaning set forth in Section 2.02(a).

 “Transferred Flexible Spending Account Balances” shall have the meaning set forth in Section 4.01(d)(iii).

 ARTICLE II 
 GENERAL
PRINCIPLES 
 Section 2.01 Allocation of Liabilities. 

(a) Aptevo Liabilities. Effective as of the Distribution Date, and except as expressly provided in this Agreement, Aptevo hereby assumes
(or retains) and agrees to pay, perform, fulfill, and discharge all Liabilities to the extent relating to, arising out of, or resulting from: 

(i) the employment (or termination of employment) of each Transferred Employee on or after the Distribution Date (including, in each case,
all Liabilities relating to, arising out of, or resulting from Employment Taxes, any Emergent Benefit Plan or any Aptevo Benefit Plan); 

(ii) the employment of each Aptevo Employee prior to the Distribution Date (including all Liabilities relating to, arising out of, or
resulting from Employment Taxes, any Emergent Benefit Plan or any Aptevo Benefit Plan) to the extent such Liabilities have not been paid, performed, fulfilled or discharged by Emergent prior to the Distribution Date; and 

(iii) obligations, Liabilities, and responsibilities expressly assumed or retained by Aptevo pursuant to this Agreement. 

  
 6 

 (b) Emergent Liabilities. Effective as of the Distribution Date, and except as expressly
provided in this Agreement, Emergent hereby retains (or assumes) and agrees to pay, perform, fulfill, and discharge all Liabilities to the extent relating to, arising out of, or resulting from: 

(i) the employment (or termination of employment) (i) of each Aptevo Employee before the Distribution Date (including, in each case, all
Liabilities relating to, arising out of, or resulting from Employment Taxes or any Emergent Benefit Plan); 
 (ii) the employment (or
termination of employment) of each Emergent Employee prior to, on, or after the Distribution Date (including all Liabilities to the extent relating to, arising out of, or resulting from Employment Taxes or any Emergent Benefit Plan); and 

(iii) obligations, Liabilities, and responsibilities expressly retained or assumed by Emergent pursuant to this Agreement.

 (c) Other Liabilities. To the extent that this Agreement does not cover particular obligations, Liabilities or responsibilities
that relate to, arise out of, or result from employment (or termination of employment), Employment Taxes or any Benefit Plan and the Parties later determine that they should be allocated in connection with the Separation, such obligations,
Liabilities or responsibilities shall be handled in a manner similar to the manner in which this Agreement handles comparable obligations, Liabilities or responsibilities, subject to the mutual agreement of the Parties. 

Section 2.02 Employment with Aptevo. 

(a) Employment Transfers. The Parties intend for Aptevo Employees to transfer to the Aptevo Group and shall use commercially reasonable
efforts and cooperate with each other to effectuate this intent. Except as otherwise mutually agreed upon by the Parties, as of the Distribution Date, the Aptevo Group shall continue to employ (on a basis consistent with Section 2.02(b))
each Aptevo Employee. Each Aptevo Employee who continues employment with the Aptevo Group following the Distribution Date will be referred to in this Agreement as a “Transferred Employee.” 

(b) Compensation and Benefits. 

(i) Emergent shall use commercially reasonable efforts to provide that, except as otherwise mutually agreed upon by the Parties, no transfer
of employment of an Aptevo Employee prior to the Distribution Date to an entity that will be a part of the Aptevo Group will cause such Aptevo Employee to lose coverage under any Emergent Benefit Plan prior to the Distribution Date. Except as
expressly provided in this Agreement or as required by Law, no Transferred Employee shall participate in any Emergent Benefit Plan following the Distribution Date. 

  
 7 

 (ii) Except as expressly provided in this Agreement, the Aptevo Group shall provide to each
Transferred Employee as of the Distribution Date (A) base salary at at least the same rate as provided to that Transferred Employee immediately prior to the Distribution Date and (B) cash incentive compensation opportunities that are
comparable in the aggregate to those cash incentive compensation opportunities offered under the corresponding Emergent Benefit Plan(s) immediately prior to the Distribution Date. 

(iii) Except as expressly provided in this Agreement, the Aptevo Group shall take commercially reasonable efforts to provide the Transferred
Employees with total cash and non-cash compensation that is substantially comparable in the aggregate to cash and non-cash compensation provided by the Emergent Group immediately prior to the Distribution Date. 

Nothing in (ii) or (iii) of this section 2.02(b) shall prevent the Aptevo Group from modifying the compensation and benefits of a Transferred
Employee after the Distribution Date. 
 (c) Service Credit. Except as expressly provided in this Agreement or to the extent it would
result in a duplication of benefits, Aptevo and each Aptevo Benefit Plan shall give each Transferred Employee credit for all service with the Emergent Group and shall calculate such service as it would be calculated by Emergent or under the
corresponding Emergent Benefit Plan as of the Distribution Date. 
 Section 2.03 Establishment of Aptevo Plans. 

(a) Generally. Prior to the Distribution Date, except to the extent they would result in the imposition of a commercially unreasonable
cost or administrative burden on Aptevo, Aptevo shall take commercially reasonable efforts to adopt Benefit Plans (and related trusts, if applicable, as determined by the Parties), and Aptevo shall take commercially reasonable efforts to provide
that such Aptevo Benefit Plans have terms that are substantially similar to those of the corresponding Emergent Benefit Plans. For the avoidance of doubt, Aptevo may limit participation in any Aptevo Benefit Plan to Transferred Employees who
participated in the corresponding Emergent Benefit Plan immediately prior to the Distribution Date. 
 (b) Plan Information and
Operation. Aptevo shall require Transferred Employees to submit new elections with respect to the Aptevo Benefit Plans. Except as provided in this Agreement, the Distribution and the transfer of any Employee’s employment to the Aptevo Group
shall not cause a distribution from or payment of benefits under any Emergent Benefit Plan. 
 ARTICLE III 

U.S. QUALIFIED RETIREMENT PLAN 

Section 3.01 401(k) Plan. 

(a) Establishment of Aptevo 401(k) Plan. Prior to the Distribution Date, Aptevo shall take any and all steps necessary or appropriate to
establish a defined contribution plan and trust to be effective as of the Distribution Date for the benefit of Transferred Employees (the “Aptevo 401(k) Plan”). The Aptevo Group shall be responsible for taking or causing to be taken
all necessary, reasonable and appropriate action to establish, maintain, and administer the Aptevo 401(k) Plan so that it qualifies under Section 401(a) of the Code and the related trust 

  
 8 

 
thereunder is exempted from federal income taxation under Section 501(a)(1) of the Code. For the avoidance of doubt, nothing in this Section 3.01 shall be construed to require
Aptevo to maintain any investment option which the fiduciaries (as such term is defined in Section 3(21) of ERISA) of the Aptevo 401(k) Plan deem to be imprudent or inappropriate for the Aptevo 401(k) Plan or which cannot be maintained without
commercially unreasonable cost or administrative burden for the Aptevo 401(k) Plan and its administrator. 
 (b) Assumption of
Liabilities and Transfer of Assets. 
 (i) Effective as of the Distribution Date or at such other time as is mutually agreed to by the
Parties, but subject to the asset transfer specified in Section 3.01(b)(ii) below, the Aptevo 401(k) Plan shall assume and be solely responsible for all Liabilities for or relating to Transferred Employees under the Emergent 401(k) Plan. The
Aptevo Group shall be responsible for all ongoing rights of or relating to Aptevo Employees for future participation (including the right to make contributions through payroll deductions) in the Aptevo 401(k) Plan. 

(ii) Effective as of the Distribution Date or at such other time as is mutually agreed to by the Parties, Emergent shall cause the account
balances (including any outstanding loan balances) in the Emergent 401(k) Plan attributable to Transferred Employees to be transferred in cash and in-kind (including, but not limited to, participant loans), to the Aptevo 401(k) Plan, and Aptevo
shall cause the Aptevo 401(k) Plan to accept such transfer or accounts and underlying assets and, effective as of the date of such transfer, to assume and to fully perform pay or discharge, all obligations of the Emergent 401(k) Plans relating to
the accounts of Transferred Employees (to the extent those assets related to those accounts are actually transferred from the Emergent 401(k) Plan). The transfer shall be conducted in accordance with Section 414(l) of the Code, Treasury
Regulation Section 1.414(l)-1, and Section 208 of ERISA. Subject to the generally applicable requirements of this Section 3.01(b)(ii), the named fiduciaries (as such term is defined in ERISA) of the Aptevo 401(k) Plan and the Emergent
401(k) Plan shall cooperate in good faith to effect the transfers contemplated by this Section 3.01(b)(ii) in an efficient and effective manner and in the best interests of participants and beneficiaries, including, but not limited to,
determining whether and to what extent any investments held under the Emergent 401(k) Plan (other than participant loans) shall be liquidated prior to the transfer date to enable the value of such investments to be transferred to the Aptevo 401(k)
Plan in cash or cash equivalents. 
 ARTICLE IV 

WELFARE AND FRINGE BENEFIT PLANS 

Section 4.01 Health and Welfare Plans. 

(a) Establishment of Aptevo Health and Welfare Plans. Aptevo shall establish the Aptevo Health and Welfare Plans in accordance with
Section 2.03(a) hereof. 

  
 9 

 (b) Waiver of Conditions; Benefit Maximums. 

(i) With respect to initial enrollment following the Distribution Date, Aptevo shall, to the extent commercially reasonable, cause the Aptevo
Health and Welfare Plans to waive: 
 (A) all limitations as to preexisting conditions, exclusions, and service conditions
with respect to participation and coverage requirements applicable to any Transferred Employee, other than limitations that were in effect with respect to the Transferred Employee under the applicable Emergent Health and Welfare Plan as of
immediately prior to the Distribution Date, and 
 (B) any waiting period limitation or evidence of insurability requirement
applicable to a Transferred Employee other than limitations or requirements that were in effect with respect to such Transferred Employee under the applicable Emergent Health and Welfare Plan as of immediately prior to the Distribution Date; and

 (ii) The Aptevo Health and Welfare Plans shall not be required to take into account: 

(A) with respect to aggregate annual, lifetime, or similar maximum benefits available under the Aptevo Health and Welfare
Plans, a Transferred Employee’s prior claim experience under the Emergent Health and Welfare Plans and any Benefit Plan that provides leave benefits; or 

(B) any eligible expenses incurred by a Transferred Employee and his or her covered dependents during the portion of the plan
year of the applicable Emergent Health and Welfare Plan ending on the Distribution Date to be taken into account under such Aptevo Health and Welfare Plan for purposes of satisfying all deductible, coinsurance, and maximum out-of-pocket requirements
applicable to such Transferred Employee and his or her covered dependents for the applicable plan year as if such amounts had been paid in accordance with such Aptevo Health and Welfare Plan. 

(c) Allocation of Health and Welfare Assets and Liabilities. 

(i) General Principles. Except as otherwise specifically provided in this Agreement, Emergent shall retain all Liabilities relating to
Incurred Claims under the Emergent Health and Welfare Plans, and shall also retain Assets (including, without limitation, Medicare reimbursements, pharmaceutical rebates, and similar items) associated with such Incurred Claims. Aptevo shall be
responsible for all Liabilities relating to Incurred Claims under any Aptevo Health and Welfare Plan and shall also retain Assets (including, without limitation, Medicare reimbursements, pharmaceutical rebates, and similar items) associated with
such Incurred Claims. 

  
 10 

 (ii) Disability Benefits. Notwithstanding any other provision hereof, Emergent shall be
responsible for Incurred Claims (including ongoing benefit payments) of Emergent Employees for short- and long-term disability benefits, regardless of when the applicable Incurred Claim is or was incurred (including either before or after the
Distribution Date), and Aptevo shall be responsible for Incurred Claims (including ongoing benefit payments) of Transferred Employees for short-term disability benefits, regardless of when the applicable Incurred Claim is or was incurred (including
either before or after the Distribution Date) and for long-term disability benefits to the extent the claim is incurred on or after the Distribution Date. For the avoidance of doubt, Emergent shall be responsible for the Incurred Claims of any
Aptevo Employee for long-term disability benefits to the extent the claim was incurred prior to the Distribution Date and any Aptevo Employee with such an Incurred Claim for long-term disability benefits shall be eligible to receive benefits under
the applicable Emergent long term disability plan notwithstanding his or her having become a Transferred Employee. 
 (iii) Flexible
Spending Accounts. The Parties shall take all actions necessary to ensure that, effective as of the Distribution Date (A) the health care and dependent care flexible spending accounts of each Transferred Employee (whether positive or negative)
(collectively, the “Transferred Flexible Spending Account Balances”) under the applicable Emergent Health and Welfare Plan shall be transferred to the corresponding Aptevo Health and Welfare Plan; (B) the elections,
contribution levels and coverage of the applicable Transferred Employees shall apply under the Aptevo Health and Welfare Plan in the same manner as under the corresponding Emergent Health and Welfare Plan; and (C) the applicable Transferred
Employees shall be eligible for reimbursement from the Aptevo Health and Welfare Plan on the same basis and the same terms and conditions as under the corresponding Emergent Health and Welfare Plan. As soon as practicable after the Distribution
Date, and in any event within 30 business days after the amount of the Transferred Flexible Spending Account Balances is determined, Emergent shall pay Aptevo the net aggregate amount of the Transferred Flexible Spending Account Balances, if such
amount is positive, and Aptevo shall pay Emergent the net aggregate amount of the Transferred Flexible Spending Account Balances, if such amount is negative. 

(d) Emergent Health and Welfare Plans after Distribution Date. Transferred Employees shall cease to participate in the Emergent Health
and Welfare Plans effective as of the Distribution Date, subject to Section 4.02 hereof. 
 Section 4.02 COBRA and
HIPAA. Emergent shall continue to be responsible for compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Emergent Health and
Welfare Plans with respect to any (a) Emergent Employees (and their covered dependents) who incur a qualifying event under COBRA on, prior to, or following the Distribution Date and (b) Aptevo Employees (and their covered dependents), with
respect to qualifying events under COBRA incurred prior to or on the Distribution Date. Aptevo shall assume responsibility for compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of
HIPAA, and the corresponding provisions of the Aptevo Health and Welfare Plans with respect to any Transferred Employees (and their covered dependents) who incur a qualifying event or loss of coverage under the Emergent Health and Welfare Plans
and/or the Aptevo Health and Welfare Plans after the Distribution Date. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any
purpose of COBRA. 

  
 11 

 Section 4.03 Vacation, Holidays and Leaves of Absence. Effective as of the
Distribution Date, Aptevo shall assume all Liabilities with respect to vacation, holiday, annual leave or other leave of absence (including unused paid-time off hours held in each Aptevo Employee’s catastrophic bank), and required payments
related thereto, for each Aptevo Employee. Emergent shall retain all Liabilities with respect to vacation, holiday, annual leave or other leave of absence (including unused paid-time off hours held in each Emergent Employee’s catastrophic
bank), and required payments related thereto, for each Emergent Employee. 
 Section 4.04 Severance and Unemployment
Compensation. Effective as of the Distribution Date, Aptevo shall be responsible for any and all Liabilities to, or relating to, Transferred Employees in respect of severance and unemployment compensation. Emergent shall be responsible for any
and all Liabilities to, or relating to, Emergent Employees in respect of severance and unemployment compensation, regardless of whether the event giving rise to the Liability occurred prior to, on, or following the Distribution Date. 

Section 4.05. Workers’ Compensation. With respect to claims for workers compensation in the United States, (a) the
Aptevo Group shall be responsible for claims in respect of Transferred Employees, whether occurring on or following the Distribution Date, and (b) the Emergent Group shall be responsible for all claims in respect of Emergent Employees, whether
occurring prior to, on or following the Distribution Date. 
 ARTICLE V 

EQUITY, INCENTIVE, AND EXECUTIVE COMPENSATION PROGRAMS 

Section 5.01 Equity Incentive Programs. 

(a) General Principles. 

(i) Except as set forth on Schedule 5.01, outstanding Emergent Options and Emergent RSUs shall be treated as set forth in this
Section 5.01. The Parties shall use commercially reasonable efforts to take all actions necessary or appropriate so that each outstanding Emergent Option and Emergent RSU award granted under an Emergent Stock Program (other than the
awards described on Schedule 5.01) shall be adjusted as set forth in this Section 5.01. 
 (ii) Following the
Distribution, an Employee or other service provider who is employed (or otherwise providing services) (a “Holder”) who has outstanding awards under the Emergent Stock Program or Aptevo Equity Awards shall be considered to have been
employed by or have provided services to, as the case may be, the applicable plan sponsor before and after the Distribution for purposes of vesting. For purposes of the equity awards described in this Section 5.01, the Distribution shall not
result in a termination of employment or service for any service provider. Rather the date of termination of employment or service with the applicable plan sponsor following the Distribution shall be the Holder’s termination date for

  
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purposes of any outstanding equity awards. For the avoidance of doubt, however, for purposes of the Emergent ESPP only, the Distribution shall result in a termination of employment or service for
any service provider holding options granted under the Emergent ESPP at the Effective Time. 
 (iii) No award described in this Article V,
whether outstanding or to be issued, adjusted, substituted or cancelled by reason of or in connection with the Distribution, shall be adjusted, settled, cancelled, or exercisable, until in the judgment of the administrator of the applicable plan or
program such action is consistent with all applicable Laws, including U.S. securities Laws. Neither the period of exercisability nor the term of any award will be extended on account of a period during which such an award is not exercisable pursuant
to the preceding sentence. 
 (iv) The adjustment or conversion of Emergent Options and Emergent RSUs shall be effectuated in a manner that
is intended to avoid the imposition of any penalty or other taxes on the holders thereof pursuant to Section 409A of the Internal Revenue Code. 

(b) Options. 
 (i) Each
Emergent Option that is outstanding as of the Effective Time that is held by an Emergent Employee or other Emergent Business service provider shall remain an option to purchase Emergent Common Shares and shall be adjusted as described below to
reflect the Distribution. Each such Adjusted Emergent Option shall be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to the corresponding Emergent Option immediately prior to the Effective
Time; provided, however, that from and after the Effective Time: (x) the per-share exercise price of each such Adjusted Emergent Option shall be equal to the product of (I) the per-share exercise price of the corresponding
Emergent Option immediately prior to the Distribution Date multiplied by (II) the Emergent Price Ratio, rounded up to the nearest whole cent; and (y) the number of Emergent Common Shares subject to each such Adjusted Emergent Option shall be
equal to the product of (I) the number of Emergent Common Shares subject to each such Adjusted Emergent Option immediately prior to the Effective Time multiplied by (II) the Emergent Share Ratio, with any fractional shares rounded down to the
nearest whole share. 
 (ii) Each Emergent Option that is outstanding as of the Effective Time that is held by an Aptevo Employee or other
Aptevo Business service provider shall be converted into an option to purchase Aptevo Common Shares and shall be adjusted as described below to reflect the Distribution. Each such Aptevo Option shall be subject to the same terms and conditions after
the Effective Time as the terms and conditions applicable to the corresponding Emergent Option immediately prior to the Effective Time; provided, however, that from and after the Effective Time: (x) the per-share exercise price of
each such Aptevo Option shall be equal to the product of (I) the per-share exercise price of the corresponding Emergent Option immediately prior to the Effective Time multiplied by (II) the Aptevo Price Ratio, rounded up to the nearest
whole cent; and (y) the number of Aptevo Common Shares subject to each such 

  
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Aptevo Option shall be equal to the product of (A) the number of Emergent Common Shares subject to the corresponding Emergent Option immediately prior to the Effective Time multiplied by
(B) the Aptevo Share Ratio, with any fractional share rounded down to the nearest whole share. 
 (c) RSUs. 

(i) Each award of Emergent RSUs held by an Emergent Employee or other Emergent Business service provider immediately prior to the Effective
Time shall be adjusted, effective as of the Effective Time, by multiplying the number of Emergent Common Shares subject to each such award of Emergent RSUs by the Emergent Share Ratio, which product shall be rounded up to the nearest whole number of
units. Each Adjusted Emergent RSU shall be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to the corresponding Emergent RSU immediately prior to the Effective Time. 

(ii) Each award of Emergent RSUs held by an Aptevo Employee or other Aptevo Business service provider immediately prior to the Effective Time
shall be converted to a restricted unit award relating to a number of Aptevo Common Shares determined by multiplying the number of Emergent Common Shares subject to each such award of Emergent RSUs by the Aptevo Share Ratio, which product shall be
rounded up to the nearest whole number of Aptevo RSUs. Except as otherwise provided herein, each Aptevo RSU shall be subject to the same terms and conditions after the Distribution as the terms and conditions applicable to the corresponding Emergent
RSUs immediately prior to the Distribution. 
 (d) Liabilities for Settlement of Awards. 

(i) Emergent shall be responsible for all Liabilities associated with Adjusted Emergent Options (regardless of the holder of such awards)
including any option exercise, share delivery, registration or other obligations related to the exercise of the Adjusted Emergent Options. 

(ii) Emergent shall be responsible for all Liabilities associated with Adjusted Emergent RSUs (regardless of the holder of such awards)
including any share delivery, registration or other obligations related to the settlement of the Adjusted Emergent RSUs. 
 (iii) Aptevo
shall be responsible for all Liabilities associated with Aptevo Options (regardless of the holder of such awards) including any option exercise, share delivery, registration or other obligations related to the exercise of the Aptevo Options. 

(iv) Aptevo shall be responsible for all Liabilities associated with Aptevo RSUs (regardless of the holder of such awards) including any
share delivery, registration or other obligations related to the settlement of the Aptevo RSUs. 
 (e) Registration and Other Regulatory
Requirements. As soon as possible following the Distribution Date, but in any case before the date of issuance of any Aptevo Common Shares pursuant to the Aptevo Therapeutics Inc. Converted Equity Awards Incentive

  
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Plan, Aptevo agrees to file a Form S-8 Registration Statement with respect to, and to cause to be registered pursuant to the Securities Act, the Aptevo Common Shares authorized for issuance
under such equity plan as required pursuant to the Securities Act. 
 Section 5.02 Annual Incentive Plans and Executive Severance
Arrangements. 
 (a) Annual Bonuses Generally. The Aptevo Group shall be responsible for all annual bonus payments to Transferred
Employees in respect of any plan year, the payment date for which occurs on or after the Distribution Date. 
 (b) Establishment of
Aptevo Annual Bonus Plan for Executive Officers. Effective as of or before the Distribution Date, Aptevo shall establish the Aptevo Annual Bonus Plan for Executive Officers with terms and conditions substantially similar to those of the Emergent
Annual Bonus Plan for Executive Officers as of the Distribution Date. 
 (c) Establishment of Aptevo Senior Management Severance Plan.
Effective as of or before the Distribution Date, Aptevo shall establish the Aptevo Senior Management Severance Plan with terms and conditions similar to those of the Second Amended and Restated Emergent Senior Management Severance Plan as of the
Distribution Date. 
 ARTICLE VI 

MISCELLANEOUS 

Section 6.01 Transfer of Records and Information. Emergent shall transfer to Aptevo any and all employment records and information
(including, but not limited to, any Form I-9, Form W-2 or other Internal Revenue Service forms) with respect to Transferred Employees and other records reasonably required by Aptevo to enable Aptevo properly to carry out its obligations
under this Agreement. Such transfer of records and information generally shall occur as soon as administratively practicable on or after the Distribution Date. Each Party will permit the other Party reasonable access to Employee records and
information, to the extent reasonably necessary for such accessing Party to carry out its obligations hereunder. 
 Section 6.02
Cooperation. Each Party shall upon reasonable request provide the other Party and the other Party’s respective Affiliates, agents, and vendors all information reasonably necessary to the other Party’s performance of its obligations
hereunder. The Parties agree to use their respective best efforts and to cooperate with each other in order to carry out their obligations hereunder and to effectuate the terms of this Agreement. 

Section 6.03 Employee Agreements. As of the Distribution Date, Emergent and the applicable member of the Emergent Group hereby
assign to Aptevo or another member of the Aptevo Group: (a) to the extent an Aptevo Employee did not otherwise sign an Employee Agreement to effectuate his or her transfer to and hiring by Aptevo, each Employee Agreement entered into between a
member of the Emergent Group and any Aptevo Employee; and (b) all rights or obligations under any Employee Agreement relating to the Aptevo Business; provided, however, that Emergent and the Emergent Group shall retain all rights
or obligations under each 

  
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Employee Agreement or applicable Law to the extent that such rights or obligations are unrelated to the Aptevo Business. After the Distribution Date, (i) the Aptevo Group shall keep secret
and retain in strictest confidence, and shall not use for the benefit of itself or others, any Emergent Group confidential or proprietary information that is unrelated to the Aptevo Business, and the Aptevo Group shall ensure that its Employees are
bound by a secrecy obligation in accordance with this provision, and (ii) the Emergent Group shall keep secret and retain in strictest confidence, and shall not use for the benefit of itself or others, any Aptevo Group confidential or
proprietary information that is unrelated to the Emergent Business, and the Emergent Group shall ensure that its Employees are bound by a secrecy obligation in accordance with this provision. Upon written request by Emergent or the Emergent Group,
Aptevo or the Aptevo Group shall make available to Emergent or the Emergent Group the original copy of any Employee Agreement that was assigned to Aptevo or the Aptevo Group under this Agreement. 

Section 6.04 Repayment Assets. Effective as of the Distribution Date, the Emergent Group shall be entitled to all Employee
Recoupment Assets in respect of Emergent Employees, and the Aptevo Group shall be entitled to all Employee Recoupment Assets in respect of Aptevo Employees. Without limiting the generality of the foregoing, the Emergent Group hereby assigns to the
Aptevo Group, effective as of the Distribution Date, all rights and obligations relating to any Employee Recoupment Assets of the Emergent Group in respect of any Aptevo Employee. 

Section 6.05 Compliance. The agreements and covenants of the Parties hereunder shall at all times be subject to the requirements
and limitations of applicable Law. Where an agreement or covenant of a Party hereunder cannot be effected in compliance with applicable Law, the Parties agree to negotiate in good faith to modify such agreement or covenant to the least extent
possible in keeping with the original agreement or covenant in order to comply with applicable Law. Each provision of this Agreement is subject to and qualified by this Section 6.05, whether or not such provision expressly states that it
is subject to or limited by applicable Law. Each reference to the Code, ERISA, or the Securities Act or any other Law shall be deemed to include the rules, regulations, and guidance issued thereunder. 

Section 6.06 Preservation of Rights. Unless expressly provided otherwise in this Agreement, nothing herein shall be construed as a
limitation on the right of the Emergent Group or the Aptevo Group to (a) amend or terminate any Benefit Plan or (b) terminate the employment of any Employee. 

Section 6.07 Transition Services. Except as otherwise provided in the Transition Services Agreement or as otherwise expressly
provided herein, neither Party shall have any responsibility for providing services to the other Party with respect to employee or Benefit Plan matters after the Distribution Date. 

Section 6.08 Reimbursement. The Parties acknowledge that the Emergent Group, on the one hand, and the Aptevo Group, on the other
hand, may incur costs and expenses (including, without limitation, contributions to Benefit Plans and the payment of insurance premiums) which are, as set forth in this Agreement, the responsibility of the other Party. Accordingly, the Parties agree
to reimburse each other, as soon as practicable but in any event within 30 days after receipt from the other Party of appropriate verification, for all such costs and expenses. 

  
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 Section 6.09 Not a Change in Control. The Parties acknowledge and agree that the
transactions contemplated by the Separation and Distribution Agreement and this Agreement do not constitute a “change in control” or a “change of control” for purposes of any Benefit Plan. 

Section 6.10 Incorporation by Reference. The following sections of the Separation and Distribution Agreement are hereby
incorporated into this Agreement by reference: Section 11.1. Counterparts; Entire Agreement; Corporate Power; Section 11.2. Governing Law; Section 11.3. Assignability; Section 11.4. Third-Party Beneficiaries; Section 11.5.
Notices; Section 11.6. Severability; Section 11.7. Force Majeure; Section 11.8. Publicity; Section 11.9 Expenses; Section 11.10. Headings; Section 11.11. Survival of Covenants; Section 11.12. Waivers of Default;
Section 11.13 Specific Performance; Section 11.14. Amendments; Section 11.15. Interpretation; Section 11.16 No Set Off; Section 11.17 Limitations of Liability; Section 11.18 Performance. 

Section 6.11 Limitation on Enforcement. This Agreement is an agreement solely between the Parties. Nothing in this Agreement,
whether express or implied, shall be construed to: (a) confer upon any Emergent Employee or Aptevo Employee, or any other person any rights or remedies, including, but not limited to any right to (i) employment or recall;
(ii) continued employment or continued service for any specified period; or (iii) claim any particular compensation, benefit or aggregation of benefits, of any kind or nature; or (b) create, modify, or amend any Benefit Plan. 

Section 6.12 Further Assurances and Consents. In addition to the actions specifically provided for elsewhere in this Agreement,
each of the Parties hereto shall use commercially reasonable efforts to (a) execute and deliver such further instruments and documents and take such other actions as the other Party may reasonably request to effectuate the purposes of this
Agreement and carry out the terms hereof; (b) take, or cause to be taken, all actions, and do, or cause to be done, all things, reasonably necessary, proper or advisable under applicable Laws and agreements or otherwise to consummate and
make effective the transactions contemplated by this Agreement, including, without limitation, using commercially reasonable efforts to obtain any consents and approvals and to make any filings and applications necessary or desirable to consummate
the transactions contemplated by this Agreement; provided that no Party hereto shall be obligated to pay any consideration therefor (except for filing fees and other similar charges) to any third party from whom those consents, approvals and
amendments are required or to take any action or omit to take any action if the taking of action or the omission to take action would be unreasonably burdensome to the Party or the business thereof. 

Section 6.13 Third Party Consent. If the obligation of any Party under this Agreement depends on the consent of a third party,
such as a vendor or insurance company, and that consent is withheld, the Parties shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the fullest extent practicable. If any provision of this Agreement
cannot be implemented due to the failure of a third party to consent, the Parties shall negotiate in good faith to implement the provision in a mutually satisfactory manner, taking into account the original purposes of the provision in light of the
Distribution and communications to affected individuals. 

  
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 Section 6.14 Effect if Distribution Does Not Occur. If the Distribution does not
occur, then all actions and events that are to be taken under this Agreement, or otherwise in connection with the Distribution, shall not be taken or occur, except to the extent specifically provided by Emergent. 

Section 6.15 Disputes. The Parties agree to use commercially reasonable efforts to resolve in an amicable manner any and all
controversies, disputes and claims between them arising out of or related in any way to this Agreement. The Parties agree that any controversy, dispute or claim (whether arising in contract, tort or otherwise) arising out of or related in any way to
this Agreement that cannot be amicably resolved informally will be resolved pursuant to the dispute resolution procedures set forth in Article VII of the Separation and Distribution Agreement. 

Section 6.16 Schedules. As of the Distribution Date, the Parties shall update any Schedules to this Agreement, as necessary. 

[SIGNATURE PAGE FOLLOWS] 

  
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 The Parties have caused this Agreement to be signed by their authorized representatives as of the Distribution
Date. 
  

									
	APTEVO THERAPEUTICS INC.	 		 	EMERGENT BIOSOLUTIONS INC
					
	BY	 	 	 		 	BY	 	 
					
	TITLE	 	 	 		 	TITLE	 	 

  
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 Schedule 1.01 – Aptevo Employees 

  
 20 

 Schedule 5.01 – Alternative Equity Award Treatment 

  
 21

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