Document:

EX-10.15

 Exhibit 10.15 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

			
		
	 [GRAPHIC APPEARS HERE]
	  	 413 March Road
 Ottawa, ON Canada K2K
0E4
 Phone: [***]
 Fax: [***]

 COBALT-60 SOURCE SUPPLY 

AND REMOVAL AGREEMENT 

BTL/VIEWRAY 2013 
 THIS Agreement is
entered into as of the 19 day of December, is between: 
 Best Theratronics Ltd. 

413 March Road 
 Ottawa, ON 

Canada, K2K 0E4 
 (“Best
Theratronics) 
 and 

ViewRay Incorporated 
 2
Thermo Fisher Way 
 Oakwood, OH 

USA 44146 
 (“ViewRay”)

 WHEREAS, Best Theratronics is engaged in the manufacture and removal of cobalt-60 sources; and 

WHEREAS, ViewRay desires to engage Best Theratronics to (i) manufacture medical cobalt-60 sources for use in ViewRay’s Image Guided Radiation
Therapy System, a medical device manufactured and distributed by ViewRay; and (ii) provide medical cobalt-60 sources removal services for Best Theratronics supplied medical cobalt-60 sources. 

 NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, and other good
and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, contract and agree as follows: 

 

	1.	Definitions: 

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

	 	1.1	“Affiliate(s)” means a body corporate, which now or hereafter, is affiliated with another body corporate. One body corporate is affiliated with another body corporate if one of them is the subsidiary of the
other or both are subsidiaries of the same body corporate or each of them is controlled by the same entity; and if two bodies corporate are affiliated with the same body corporate at the same time, they are deemed to be affiliated with each other.

 Subsidiary: a body corporate shall be a subsidiary of another body corporate if it is controlled by that other body
corporate. 
 Control: a body corporate is controlled by a person or other body corporate if securities of the body corporate to which are
attached more than fifty (50%) percent of the votes that may be cast to elect directors of the body corporate, are held other than by way of security only, by or for the benefit of that person or body corporate and the votes attached are
sufficient to elect a majority of the directors of the body corporate. 
  

	 	1.2	“Agreement” shall mean this Cobalt-60 Source Supply and Removal Agreement. 

  

	 	1.3	 “Confidential Information” means all information disclosed by a Party whether disclosed orally, in writing or other tangible media or
tangible form, whether patented, unpatented, patentable or unpatentable or disclosed in patent applications relating to technical or non-technical data, designs, drawings, know-how, formulas, policies, plan reports, trade secrets, skills, processes,
methods, 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
product development activities, material samples, business plans, forecasts, marketing plans, customer lists, business strategies and other documentation or information of a technical or
financial nature. For purposes hereof, Confidential Information does not include information which: (i) was known to recipient prior to the date hereof or which is information generally available to the public; (ii) hereafter, through no
act on the part of the recipient, becomes information generally available to the public; (iii) is, at the time of the disclosure, in the possession of recipient and was not previously acquired directly or indirectly from the other Party, or any
Affiliate of them on a confidential basis; (iv) the recipient can show was received by it after the time of disclosure hereunder from a third party who did not acquire it directly or indirectly from the other Party or any Affiliate thereof, and
who did not acquire it under an obligation of confidence to the other Party or any Affiliate, provided that the recipient abides by any restriction on disclosure or use imposed by such third party; (v) is approved for release by written consent
of a disclosure; or (vi) is disclosed pursuant to the requirement or request of a governmental agency or by operation of law, provided that the affected Party is reasonably notified in advance of such requirement or request. 

 

	 	1.4	“Source Removal Services” shall mean the services to be rendered by Best Theratronics hereunder for the removal of Medical Cobalt-60 Sources after their useful life. 

 

	 	1.5	“Image Guided Radiation Therapy (IGRT) System” shall mean ViewRay’s medical device for use in radiation therapy. 

  

	 	1.6	“Party” or “Parties” means ViewRay, Best Theratronics, or ViewRay and Best Theratronics. 

  

	 	1.7	“Medical Cobalt-60 Sources” shall mean the C-146 medical cobalt-60 sources manufactured, produced, and supplied by Best Theratronics meeting the Specifications in Exhibit 2. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	1.8	“DDP” and “DAP” shall have the meaning ascribed in the International Chamber of Commerce Incoterms 2010, publication 715ES. 

 

	 	1.9	“Term” shall have the meaning ascribed in section 6.1. 

  

	 	1.10	“Ex-works” shall have the meaning ascribed in the International Chamber of Commerce Incoterms 2010, publication 715ES. 

  

	 	1.11	“CIP” shall have the meaning ascribed in the International Chamber of Commerce Incoterms 2010, publication 715ES. 

  

	 	1.12	“CPT” shall have the meaning ascribed in the International Chamber of Commerce Incoterms 2010, publication 715ES. 

  

	 	1.13	“Specification(s)” shall mean the Medical Cobalt-60 Source specifications set out in Exhibit 2. 

Exhibits 
 Exhibit 1:
Medical Cobalt-60 Sources Price 
 Exhibit 2: Medical Cobalt-60 Sources Specifications 

Exhibit 3: ViewRay Form of Purchase Order 

Exhibit 4: Price/Credit for Medical Cobalt-60 Source Removal 
  

	2.	Confidentiality 

  

	 	2.1	License Grant. During the term of this Agreement, Best Theratronics hereby grants to ViewRay a royalty free, non-exclusive, nontransferable license to use Best Theratronics’ Confidential Information
solely for the purpose of enabling ViewRay to design and manufacture an Image Guided Radiation Therapy (IGRT) System which is compatible with the Medical Cobalt-60 Sources. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	2.2	Confidentiality. With respect to Confidential Information disclosed by either Party, either directly or indirectly: 

  

	 	(a)	all right, title, and interest in and to the Confidential Information shall be retained by the Party supplying the Confidential Information; 

 

	 	(b)	the Confidential Information will be held in strict confidence by the recipient and will not be divulged, disclosed, nor used by recipient in any manner except in accordance with the terms herein; and 

 

	 	(c)	recipient agrees that any Confidential Information received shall only be disclosed to its employees or officers on a “need-to-know” basis and that each such person who has access to any Confidential
Information will be advised to keep the same secret and use the same only in the course of carrying out the work contemplated by this Agreement. 

  

	 	2.3	Use. The recipient, except as otherwise set out and for the purpose of performing its obligations hereunder, shall not, either directly or indirectly, make any use, commercial or otherwise, nor permit any
other persons to make any such use of any part of the Confidential Information supplied by the other Party hereto without first having obtained the other Party’s written consent thereto. The Parties acknowledge that any disclosure or use of the
Confidential Information in breach of this Agreement shall cause irreparable harm for which damages are not an adequate remedy and shall entitle such Party to seek an injunction or other equitable remedy. 

 

	 	2.4	Rights. Except as otherwise set out the disclosure of Confidential Information to the other Party shall not be construed as granting such Party any right or license in any country under any license,
patent, patent application, or other intellectual property right. 

  

	 	2.5	Return. Upon termination of this Agreement, or upon earlier written request by the other Party, recipient will return to the other Party any and all materials in recorded form provided to it containing
Confidential Information together with any copies recipient may have made. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	3.	Manufacture of Medical Cobalt-60 Sources 

  

	 	3.1	Manufacture. Best Theratronics shall manufacture and produce the Medical Cobalt-60 Sources for ViewRay in accordance with the terms set forth herein and shall ensure that all Medical Cobalt-60 Sources
conforms to the Specifications. ViewRay will be supplied a Sealed Source Test Certificate for Medical Cobalt-60 Sources purchased. In the event that Best Theratronics should fail to comply with such standards and Specifications, Best Theratronics
shall bear all direct and reasonable costs and expenses of remedial action so as to meet such standards and Specifications. 

  

	 	3.2	Compliance. Best Theratronics warrants and certifies that it shall manufacture and supply Medical Cobalt-60 Sources in compliance with all applicable laws, ordinances, rules, and regulations.

  

	 	3.3	Forecasts. For each calendar year during the Term of this Agreement in which ViewRay will require Medical Cobalt-60 Sources, ViewRay shall submit to Best Theratronics at least thirty-six (36) months
prior to the subject calendar year, a forecast with respect to Medical Cobalt-60 Sources that may be manufactured, supplied, and delivered hereunder during such calendar year. 

 

	4.	Purchase of Medical Cobalt-60 Sources 

  

	 	4.1	Price and Purchase Quantity. 

  

	 	(a)	Best Theratronics agrees to sell Medical Cobalt-60 Sources to ViewRay and ViewRay agrees to purchase Medical Cobalt-60 Sources at the list price set forth in Exhibit 1 (and subject to the terms and conditions set out in
this Agreement). 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(b)	During the Term of this Agreement, ViewRay agrees to purchase from Best Theratronics a minimum of [***] percent ([***]%) of its requirements for Medical Cobalt-60 Sources in each calendar year (the “Minimum
Requirement”), to the extent that Best Theratronics has the capacity to produce such Medical Cobalt-60 Sources. If at any time Best Theratronics does not have the capacity to provide the Minimum Requirement of Medical Cobalt-60 Sources, ViewRay
may purchase the Medical Cobalt-60 Sources, which Best Theratronics does not have the capacity to provide, from other suppliers without penalty hereunder. ViewRay shall provide to Best Theratronics, within thirty (30) days of the completion of
each calendar year during the Term of this Agreement a certificate issued by its Chief Financial Officer attesting to the fulfillment by ViewRay of the minimum purchase commitment of ViewRay pursuant to this section 4.1 (b). 

 

	 	(c)	Best Theratronics agrees to maintain, on a best effort basis, a Medical Cobalt-60 Sources manufacturing capacity to produce a minimum contingent of Medical Cobalt-60 Sources ( ) per calendar year, as follows:

  

	 	  	                                    
            2014 [***] 

  

	 	  	                                    
            2015 [***] 

  

	 	  	                                    
            2016 [***] 

  

	 	  	For each calendar year during the Term of this Agreement in which Best Theratronics will produce Medical Cobalt-60 Sources, Best Theratronics shall submit to ViewRay at least twelve (12) months prior to the subject
calendar year, a forecast with respect to any increased capacity above the minimum stated herein, during such calendar year. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(d)	ViewRay shall place orders for the Medical Cobalt-60 Sources with Best Theratronics from time to time pursuant to ViewRay’s purchase order, the form of which is set out in Exhibit 3. The standard terms and
conditions appearing on the reverse of such purchase order and/or those terms and conditions different from the terms and conditions appearing in this Agreement, shall not apply. Best Theratronics, following its acceptance of such orders, shall fill
and deliver all such orders in accordance with the terms hereof and shall invoice ViewRay for all orders. Best Theratronics will provide ViewRay a written order acknowledgement within thirty (30) days after receipt of ViewRay’s order.

  

	 	4.2	Payment terms. Best Theratronics shall submit invoices to ViewRay for Medical Cobalt-60 Sources delivered to ViewRay hereunder. Best Theratronics’ invoices shall show the name of the ViewRay customer
(if known) and ViewRay’s purchase order number. If any sales, use, duty, excise, or other similar tax or charge for which ViewRay has not furnished or agreed to furnish an exemption certificate is applicable to a particular invoice, it shall be
stated separately on the invoice and shall be to ViewRay’s account. ViewRay retains the right to receive copies of invoices of all sales, use, duty, excise, or other similar tax or charge charged to its account. Best Theratronics shall be
entitled to invoice ViewRay after delivery of the Medical Cobalt-60 Sources North America DAP to ViewRay’s site, its customer’s site or airport/port of destination, as the case may be or for the rest of the world CIP or CPT to airport/port
of destination, as the case may be. Except as otherwise set out, ViewRay shall pay all invoices for Medical Cobalt-60 Sources and services in this Agreement [***]% with the placement of the order, [***]% a minimum of 15 days prior to the start of
the month in which the sources will be manufactured, and [***]% 30 days from the date of shipment. ViewRay agrees that late payments under this Agreement shall accrue annual interest (payable monthly) at the prime lending rate, plus 3%, as published
by the Canadian Imperial Bank of Commerce in Ottawa, Ontario. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	4.3	Shipping and Delivery. Unless otherwise agreed by the Parties hereto: (i) Best Theratronics agrees to deliver the Medical Cobalt-60 Sources to ViewRay’s site or its customer site in North America
DAP to site, (ii) Best Theratronics agrees to deliver the Medical Cobalt-60 Sources to ViewRay’s site or its customer site outside of North America CIP or CPT ports of destination. Title in and risk of loss and damage to the Medical
Cobalt-60 Sources for deliveries in North America shall pass to ViewRay DAP ViewRay’s site or its customer site. For deliveries outside North America title in and risk of loss and damage to the Medical Cobalt-60 Sources shall pass to ViewRay
CIP or CPT ports of destination. The delivery date will be on or about the delivery date agreed, which agreed date shall not be less than ninety (90) days after the date of receipt and acceptance of ViewRay’s purchase order by Best
Theratronics for North American destinations and one hundred and twenty (120) days for destinations outside North America. Best Theratronics will take all commercially reasonable efforts to ensure Medical Cobalt-60 Sources are delivered on the
date requested by ViewRay. All shipping expenses that have been prepaid by Best Theratronics shall be invoiced, at cost, to ViewRay. ViewRay retains the right to receive copies of invoices of all shipping costs charged to its account. All rigging
costs and arrangements for unloading, moving and handling the shipping container(s) at ViewRay’s site, its customer’s site or ports of destination shall be borne by and be the responsibility of ViewRay. 

 

	 	4.4	Highway Transport Notification. Best Theratronics will provide the necessary notifications for the transport of “Highway Route Controlled Quantities” of Medical Cobalt-60 Sources to USDOT as per
49CFR and to other US Authorities as per USNRC “Recommendations for Shipment of Radioactive Material Exceeding Highway Route Controlled Quantity”. 

  

	 	4.5	Shipping Containers and Tool Kits Return. In connection with the delivery of the Medical Cobalt-60 Sources, the Parties acknowledge and agree that Best Theratronics will load the Medical Cobalt-60 Sources
into a certified Best Theratronics container or certified ViewRay container if provided by ViewRay. Rental of Best Theratronics’ type F-147 shipping container(s) with a maximum licensed capacity of 15,000 Curies each is included in the price.
The Best Theratronics shipping container(s) are and shall at all times remain the property of Best Theratronics. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	  	Return shipping of empty or loaded shipping containers shall be arranged by Best Theratronics for and on behalf of ViewRay and charges therefore, will be prepaid by Best Theratronics. All shipping costs, insurance,
duties, customs charges, sales, use, excise or other similar charges incurred by Best Theratronics, shall be to ViewRay’s account. ViewRay retains the right to receive copies of invoices of all shipping costs charged to its account.

  

	 	  	Retention of the shipping containers by ViewRay or its customer beyond thirty (30) days after receipt of the containers at ViewRay’s or its customer’s site is subject to a charge of $[***] CAD per
container per day, invoiced to and payable by ViewRay. 

  

	 	4.6	Licensing. ViewRay shall ensure that its customers send to Best Theratronics (Attention: Customer Service) a copy of their current radioactive materials license (and import license, if applicable),
complete with amendments or similar documentation from the relevant competent authority, stipulating that the Medical Cobalt-60 Sources and associated radioactivity is permitted on-site. Such license must be provided in a timely manner to ensure
adequate time for Best Theratronics to apply for a radioactive material export license, and any other licenses or permits as may be required. It is ViewRay’s responsibility to obtain the required specific license to import or export, from the
country of end-use, Medical Cobalt-60 Sources as required. An export license must be provided prior to shipment to Canada of disused Medial Cobalt-60 Sources. Best Theratronics is responsible for obtaining the license to export the Medical Cobalt-60
Sources from Canada. ViewRay acknowledges that Best Theratronics cannot release the Medical Cobalt-60 Sources for shipment until all required regulatory licenses have been obtained by Best Theratronics. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	4.7	Inspection. The Medical Cobalt-60 Sources shall be inspected by ViewRay or its designate upon their arrival at ViewRay’s customer site (but in no case more than thirty (30) days after the date of
receipt of the Medical Cobalt 60 Sources at ViewRay’s or it’s customer’s site) and shall give written notice to Best Theratronics of any claim that the Medical Cobalt-60 Sources do not conform to the Specifications or the accepted
purchase order. 

  

	 	4.8	Warranty. Best Theratronics warrants, as per Best Theratronics Standard Terms and Conditions of sale, for a period of one (1) year from the date of delivery that the Medical Cobalt-60 Sources supplied
by Best Theratronics will be free from defects in manufacture, material and workmanship. During the warranty period, Best Theratronics shall repair or replace, at its option, any defective Medical Cobalt-60 Sources. ViewRay shall, at Best
Theratronics’ request, return (at Best Theratronics’ expense) such defective Medical Cobalt-60 Sources to Best Theratronics’ facility in Ottawa, Ontario for repair or replacement. Best Theratronics shall reimburse ViewRay for all
reasonable costs incurred by ViewRay in connection with the delivery, handling, storage, and return of such Medical Cobalt-60 Sources. Such warranty shall not apply in the event the Medical Cobalt-60 Sources are subject to accident, abuse, misuse,
alteration or neglect. 

  

	 	4.9	Disclaimer. ViewRay acknowledges that Best Theratronics is manufacturing and supplying Medical Cobalt-60 Sources to meet Specification and all relevant government and regulatory requirements. Except as
expressly set out in this Agreement, Best Theratronics hereby disclaims all other warranties or conditions express or implied, statutory or otherwise, including but not limited to, any implied warranties or conditions of merchantability or fitness
for a particular purpose. 

  

	5.	Source Removal Services: Terms and Conditions 

  

	 	5.1	Source Removal. Any Medical Cobalt 60 Sources supplied by Best Theratronics during the Term of this Agreement, must be returned to Best Theratronics, subject to and in accordance with the terms of this
Agreement. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	5.2	Purchase Orders. ViewRay may place orders for Source Removal Services with Best Theratronics from time to time pursuant to ViewRay’s standard purchase order (Exhibit 3). The standard terms and
conditions appearing on the reverse of such purchase order and/or those terms and conditions different from the terms and conditions appearing in this Agreement, shall not apply. Best Theratronics, shall fulfill such services in accordance with the
terms hereof. 

  

	 	5.3	Returns/Return Credit. For Medical Cobalt 60 Sources received by Best Theratronics during the Term of this Agreement, Best Theratronics shall, as applicable, charge ViewRay the price or provide the credit,
as set out in Exhibit 4. For the purpose of calculation of the credit, the number of curies of Medical Cobalt 60 received by Best Theratronics shall be determined as of the date of arrival at Best Theratronics’ facility in Ottawa, Ontario,
Canada, or other designated site. During the Term of this Agreement and thereafter Best Theratronics will accept return of Medical Cobalt 60 Sources supplied by Best Theratronics to ViewRay during the term of this Agreement in accordance with
Exhibit 4. If requested, Best Theratronics’ technical personnel labor fees for Source Removal Services (as applicable at the time of rendering such services), other on site services, travel and accommodation expenses, shall be to ViewRay’s
account. 

  

	 	5.4	Invoices/Credit Note. Best Theratronics shall submit invoices (or a credit note as the case may be) to ViewRay for Source Removal Services provided to ViewRay hereunder upon receipt of the returned
source(s) by Best Theratronics at its facility in Ottawa, Ontario, or other designated site in Canada. Best Theratronics’ invoices shall show the name of the ViewRay customer from whom the Medical Cobalt-60 Sources were shipped, the location
from which such Medical Cobalt-60 Sources were shipped and ViewRay’s purchase order number, provided such information is made available to Best Theratronics by ViewRay. ViewRay shall pay all invoices within thirty (30) days of the date of
invoice. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	5.5	Delivery. Unless otherwise agreed by the Parties hereto: (i) transfer of title in and risk of loss and damage to Medical Cobalt-60 Sources for removal from North American sites shall be Ex Works
ViewRay’s site or its customer site, when the returned shipment is prepared by Best Theratronics, (ii) for removal of Medical Cobalt-60 Sources from ViewRay’s site or its customer site outside of North America transfer of title in and
risk of loss and damage to Medical Cobalt-60 Sources shall pass to Best Theratronics upon arrival at the Canadian port of entry. All rigging costs and arrangements for loading, moving and handling shipping container(s) at ViewRay’s site, its
customer’s site, or ports of entry in connection with Source Removal Services, shall be borne by and be the responsibility of ViewRay. 

  

	 	5.6	Warranty. Best Theratronics warrants and certifies that any Source Removal Services provided hereunder shall be carried out in compliance with all applicable laws, ordinances, rules and regulations.

  

	6.	Term and Termination 

  

	 	6.1	Term. The term of this Agreement shall commence on Oct 01, 2013 and shall continue until December 31, 2016 (the “Term”). The agreement may be extended for subsequent one year terms upon
mutual agreement of the Parties 36 months prior to the end of the current Term. 

  

	 	6.2	Termination by ViewRay. ViewRay may, at its option in addition to any remedy it may have, terminate this Agreement effective immediately if any of the following events shall occur: 

 

	 	(a)	Best Theratronics fails to cure a material breach under this Agreement within thirty (30) days after ViewRay has given Best Theratronics written notice of such breach; 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(b)	Best Theratronics files a petition in bankruptcy, is adjudicated a bankrupt, or files a petition or otherwise seeks relief under or pursuant to any bankruptcy, insolvency, or reorganization statute or proceeding or if a
petition in bankruptcy is filed against Best Theratronics which is not dismissed within forty-five (45) days, or proceedings are taken to liquidate Best Theratronics’ assets. 

 

	 	6.3	Termination by Best Theratronics. Best Theratronics may, at its option in addition to any remedy it may have, terminate this Agreement effective immediately if any of the following events shall occur:

  

	 	(a)	ViewRay fails to pay, when due, without cause, any invoice for Medical Cobalt-60 Sources or Source Removal Services from Best Theratronics, and such delinquency continues for a period of thirty (30) days following
ViewRay’s receipt of written notice of such delinquency; 

  

	 	(b)	ViewRay fails to cure a material breach under this Agreement within thirty (30) days after Best Theratronics has given ViewRay written notice of such breach; 

 

	 	(c)	ViewRay files a petition in bankruptcy, is adjudicated a bankrupt, or files a petition or otherwise seeks relief under or pursuant to any bankruptcy, insolvency, or reorganization statute or proceeding or if a petition
in bankruptcy is filed against ViewRay which is not dismissed within forty-five (45) days, or proceedings are taken to liquidate ViewRay’s assets. 

  

	 	6.4	Termination by either Party. Either Party, at its option, may at any time terminate this agreement by providing the other Party two (2) years prior written notice. 

 

	7.	Price Increases During the Term of this Agreement 

  

	  	Price per curie is set forth in Exhibit 1 and covers pricing for 2014 and 2015. The Parties shall agree to prices for deliveries in calendar year 2016, and subsequent years, 12 months in advance of the start of the new
calendar year. If such agreement cannot be reached, the Agreement shall terminate at the end of the period for which prices have been agreed. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	  	Upon mutual agreement, the Parties may agree to an extended period for agreement of the annual price increase. 

  

	8.	Indemnification 

  

	 	8.1	Best Theratronics Indemnification Obligation. Best Theratronics agrees to indemnify, defend and hold ViewRay and its Affiliates and their respective directors, officers, employees and agents, harmless from
and against any damages, claims, liabilities and expenses (including, but not limited to, reasonable attorney’s fees) resulting from any third party claims or suits (“General Claims Against ViewRay”) arising out of (a) Best
Theratronics’ manufacture, handling, storage, labeling, packaging, preparation or transport for shipment of Medical Cobalt-60 Sources; (b) Best Theratronics’ negligent acts or omissions or willful misconduct; (c) Best
Theratronics’ Source Removal Services, or (d) any failure of the Medical Cobalt-60 Sources to meet the Specifications or applicable laws, ordinances, rules and regulations. Notwithstanding the foregoing, Best Theratronics will not be
required to indemnify, defend and hold ViewRay and its Affiliates and their respective directors, officers, employees and agents harmless from and against any General Claims Against ViewRay to the extent that such claims arise out of
(i) ViewRay’s negligent acts or omissions or willful misconduct; or (ii) ViewRay’s or third party’s improper use, handling or transport of Medical Cobalt-60 Sources. Notwithstanding anything in this section 8.1,
“General Claims Against ViewRay” shall not include “IP Claims Against ViewRay” as described in section 8.4. 

  

	 	8.2	ViewRay Indemnification Obligation. ViewRay agrees to indemnify, defend and hold Best Theratronics and its Affiliates and their respective directors, officers, employees and agents, harmless from and
against any damages, claims, liabilities and expenses (including, but not limited to, reasonable attorney’s fees) resulting from any third party claims or suits (“General Claims Against Best 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
Theratronics”) arising out of (a) ViewRay’s or its customer’s improper use handling or transport of Medical Cobalt-60 Sources, (b) ViewRay’s activities with respect
to the Source Removal Services provided by Best Theratronics (c) ViewRay’s or its customers use of the Image Guided Radiation Therapy (IGRT) System or (d) ViewRay’s negligent acts or omissions or willful misconduct.
Notwithstanding the foregoing, ViewRay will not be required to indemnify, defend and hold Best Theratronics and its Affiliates and their respective directors, officers, employees and agents harmless from and against any General Claims Against Best
Theratronics to the extent that such claims arise out of (i) Best Theratronics’ negligent acts or omissions or willful misconduct; (ii) any failure of Best Theratronics to manufacture, handle, store, label, package, prepare for
shipment or transport of Medical Cobalt-60 Sources in accordance with this Agreement, or (iii) any failure of Best Theratronics to manufacture Medical Cobalt-60 Sources in accordance with the Specifications or applicable laws, ordinances, rules
and regulations. Notwithstanding anything in this section 8.2, “General Claims Against Best Theratronics” shall not include “IP Claims Against Best Theratronics” as described in section 8.3. 

 

	 	8.3	Intellectual Property Claims Against Best Theratronics. ViewRay agrees to indemnify, defend and hold Best Theratronics and its Affiliates and their respective directors, officers, employees and agents,
harmless from and against any damages, claims, liabilities and expenses (including, but not limited to, reasonable attorneys’ fees) resulting from any third party claims or suits arising out of any proceeding instituted by or on behalf of a
third party based upon a claim that the Image Guided Radiation Therapy (IGRT) System (alone or in combination with the Medical Cobalt 60 Sources) or associated technology, manufactured, sold or used, infringes a patent or any other intellectual
property right of a third party (“IP Claims Against Best Theratronics”). 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	8.4	Intellectual Property Claims Against ViewRay. Best Theratronics agrees to indemnify, defend and hold harmless ViewRay and its Affiliates, and their respective directors, officers, employees and agents from
and against any 

	 	damages, claims, liabilities and expenses (including, but not limited to, reasonable attorney’s fees) resulting from any third party claims or suits arising out of any proceeding instituted by or on behalf of a
third party based upon a claim that the Medical Cobalt-60 Sources or the method of manufacture of Medical Cobalt-60 Sources to the extent developed or contributed by Best Theratronics, infringes a patent or other intellectual property right of a
third party (“IP Claims Against ViewRay”). 

  

	 	8.5	Indemnification Procedures. A party (the “Indemnitee”) intending to claim indemnification under this Agreement shall promptly notify the other party (the “Indemnitor”) in writing of any
action, claim or other matter in respect of which the Indemnitee or any of its directors, officers, employees or agents intend to claim such indemnification; provided, however, the failure to provide such notice within a reasonable period of time
shall not relieve the Indemnitor of any of its obligations hereunder except to the extent the Indemnitor is materially prejudiced by such failure. The Indemnitor shall be entitled to control the defense of and/or settle any such action, claim or
other matter. The Indemnitee agrees to the complete control of such defense or settlement by the Indemnitor, provided, however, any settlement of such claims shall require the Indemnitee’s prior written consent unless such settlement includes a
full release of the Indemnitee, in which case no consent shall be required. The Indemnitee and its directors, officers, employees and agents shall co-operate fully with the Indemnitor and its legal representatives in the investigation and defense of
any action, claim or other matter covered by this indemnification. The Indemnitee shall have the right, but not the obligation, to be represented by counsel of its own selection and at its own expense. 

 

	 	8.6	Limitations on Liability. Except with respect to the beach of confidentiality and obligations of indemnification set out in this Agreement, neither Party shall be liable to the other for indirect,
contingent, special, or consequential damages, including but not limited to loss of profit, loss of time, or loss of opportunity. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	9.	Insurance. Commencing with the supply of Medical Cobalt —60 Sources pursuant to this Agreement, during the term of this Agreement and so long as the Medical Cobalt-60 Sources remain in use,
ViewRay shall maintain Comprehensive General Liability Insurance (including product liability) to the extent of at least one million United States dollars (US $1,000,000) per occurrence and ten million United States Dollars in aggregate (US
$10,000,000). ViewRay shall cause Best Theratronics to be named as an “additional insured” under ViewRay’s liability insurance policy. ViewRay shall, upon reasonable request, provide to Best Theratronics written evidence of
ViewRay’s compliance with the provisions of this Section 9. 

  

	10.	Force Majeure. Neither Party shall be liable to the other for failure to perform or delay in performing its obligations under the Agreement by virtue of an occurrence of an event of Force Majeure. In the
event of Force Majeure, each party shall promptly notify the other Party and shall exert commercially reasonable efforts to eliminate, cure or overcome such event and to resume performance of its obligations. “Force Majeure” shall mean any
occurrence which prevents, delays or interferes with the performance by a Party of any of its obligations hereunder if such event occurs by reason of an act of God, flood, power failure, fire, explosion, casualty, accident, war, revolution, civil
commotion acts of public enemies or terrorism, failure of usual suppliers to provide materials, equipment or machinery, interruption of or delay in transportation, strike or labor disruption or other similar cause beyond the reasonable control of
the other Party. If such event of Force Majeure prevents performance by a Party under this Agreement for a period in excess of one hundred and eighty (180) days, the other Party may terminate this Agreement upon thirty (30) days written
notice, without penalty or liability. 

  

	11.	Notices and Requests. Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be communicated by certified mail, return receipt requested, or by facsimile, to
the Parties hereto at the respective addresses shown below, or at such other address as any such party may designate by notice given to the other Party: 

  

			
		
	 TO:     ViewRay Incorporated

            2 Thermo Fisher Way

            Oakwood, OH

            USA 44146

            Attention:   Chris A Raanes

   President & CEO

            Tel: [***]
	  	 TO:      Best Theratronics

            413 March Road

            Ottawa, Ontario, CANADA

            K2K 0E4

            Attention:   [***]

   Director, Engineering

            Tel: [***]

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	12.	Miscellaneous 

 12.1 Survival. Sections 2.2-2.5, 4.9, 8, 9,
12.2-12.3, and 13 and those sections which by their nature are to survive, shall survive termination or expiration of this Agreement. 
 12.2
Assignment. It is mutually agreed that this Agreement shall not be assigned, pledged, mortgaged or otherwise transferred or disposed of by the Parties hereto in whole or in part, without the prior written consent of both Parties, which
will not be unreasonably withheld. Provided however, either Party shall be free to assign its rights and delegate its obligations under this Agreement to an Affiliate of such party. In the event of assignment to an Affiliate, the assigning Party and
the Affiliate will remain jointly and severally responsible for the obligations. 
 12.3 Waiver. Neither Party shall be deemed
to have waived any of its rights, powers, or remedies under this Agreement, or at law or in equity, unless such waiver is in writing and is executed by it. No delay or omissions by either party in exercising any right, power, or remedy shall operate
as a waiver thereof or of any other right, power or remedy. No waiver by either party of any default shall operate as a waiver of any other default or of the same default on another occasion. 

12.4 Entire Agreement. This Agreement constitutes the entire agreement among the Parties hereto and supersedes and cancels any
prior agreements among the Parties hereto relating to the transactions contemplated hereby or the subject matter herein. This Agreement shall not be modified, except in writing executed by ViewRay and Best Theratronics. 

12.5 Headings. The Section and other headings in this Agreement are inserted solely as a matter of convenience and for reference.

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 12.6 Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 12.7 Exhibits. All
Exhibits attached hereto are incorporated herein by reference. 
 12.8 Attorneys Fees and Costs. If any litigation is commenced
by either party concerning this Agreement, the party which substantially prevails in such litigation will be entitled to a judgment against the other party for the costs of such litigation, including court costs and reasonable attorneys’ fees.

 12.9 Severability. Every provision of this Agreement is intended to be severable. If any term or provision hereof is illegal
or invalid for any reason whatever, such illegality or invalidity shall not affect the validity of the remainder of the Agreement. 
 12.10
Time. Each Party will use its best efforts to communicate as necessary with the other Party in a timely manner in connection with this Agreement. 
  

	13.	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of Ontario, Canada without reference to its principles on conflicts of laws. The application of the United
Nations Convention for the International Sale of Goods is expressly excluded from this Agreement. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 IN WITNESS WHEREOF, the parites have duly executed this Agreement as of the date first written above.

  

			
	ViewRay Incorporated
		
	Signature:	 	/s/ Chris A. Raanes
		 	 Name: Chris A. Raanes
 Title:
President & CEO

  

			
	Best Theratronics Ltd.
		
	Signature:	 	/s/ Krishnan Suthanthiran
		 	 Name: Krishnan Suthanthiran
 Title:
President

 Agreement/ViewRay/Draft/ 
  

	14.	The Best Theratronics Standard Terms and Condition of Sale form part of this agreement and supersedes any other Terms and Conditions. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT 1 

Medical Cobalt-60 Source Prices 
  

			
	Number of Sources	  	Price per Curie for shipments in
		  	[***]
		
	[***]	  	[***]

 Note: pricing thereafter subject to escalation pursuant to Section 7. 

All prices are in [***]. 
  

					
	 	  	 Price per Curie for shipments

in [***]

	  	 Price per Curie for shipments in

[***]

			
	[***]	  	[***]	  	[***]

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT 2 

[***] 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Exhibit 3 

ViewRay Form of Purchase Order 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Exhibit 4 

Price/Credit for Medical Cobalt-6- Source Removal 

During the Term of this Agreement, Best Theratronics will use the following pricing/credit schedule for the removal of Medical Cobalt-60 Sources supplied by
Best Theratronics: 
 a) Please refer to the following table for applicable credits for Medical Cobalt-60 Sources received from ViewRay by Best Theratronics.
Credits are only applicable to the future purchase by ViewRay of Medical Cobalt-60 Sources from Best Theratronics pursuant to this Agreement. For the purpose of calculation of the credit, the number of curies of Medical Cobalt-60 received shall be
determined as of the date of arrival at Best Theratronics’ facility in Ottawa, Ontario, Canada or other designated site. 
 b) For Medical Cobalt-60
sources received from ViewRay by Best Theratronics after [***] from the original ship date and with the purchase of a replacement source, ViewRay will be invoiced $[***] per Medical Cobalt-60 Source received. 

c) For Medical Cobalt-60 sources received from ViewRay by Best Theratronics after [***] from the original ship date and without the purchase of a replacement
source, ViewRay will be invoiced $[***] per Medical Cobalt-60 Source received. 
 d) Medical Cobalt-60 Sources returned to Best Theratronics beyond the Term
of the Agreement will be subject to the [***] issued by Best Theratronics upon request from ViewRay for removal of Medical Cobalt-60 Sources. 
 All
prices/credits are in [***]. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	 Return Time Frame
	  	Credit Amount Per Curie
[***] Per Source
	Cobalt-60 sources received after [***] from original date of shipment	  	[***]
	Cobalt-60 sources received after [***] but before [***] from original date of shipment	  	[***]
	Cobalt-60 sources received after [***] but before [***] from original date of shipment	  	[***]

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.EX-10.16

 Exhibit 10.16 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
 DEVELOPMENT AND SUPPLY AGREEMENT 

This Development and Supply Agreement (“Agreement”) is entered into as of June 24, 2009 (“Effective
Date”) by and between ViewRay Incorporated, a Delaware corporation (“ViewRay”), Manufacturing Sciences Corporation (hereinafter “MSC”) a Colorado corporation. 

Background 
 ViewRay possesses valuable
knowledge, expertise, intellectual properties and resources with regard to high performance radiation oncology devices. MSC possesses valuable knowledge, expertise, intellectual properties and resources with regard to the fabrication of Depleted
Uranium as utilized for radiation shielding. 
 ViewRay wishes to engage MSC to develop a Depleted Uranium radioactive source shield with Tungsten inserts
and a stainless steel outer wrapper (hereinafter “source shield”) which will meet certain agreed technical specifications for incorporation into ViewRay’s RenaissanceTM radiation therapy system. ViewRay also wishes to purchase
from MSC quantities of such radioactive source shields. 
 MSC is willing to provide ViewRay with development services for this device and is also willing
to sell ViewRay quantities of such device at favorable pricing in exchange for ViewRay’s agreement to maintain exclusivity of supply during a specified period. 

NOW THEREFORE, the parties agree as follows with respect to such development and supply arrangements. 

1. DEFINITIONS. 
 1.1 Defined Terms. Capitalized
terms used in this Agreement and not otherwise defined herein shall have the meaning set forth below. 

“Affiliate” means with respect to either party, any Person that, directly or indirectly, is controlled
by, controls or is under common control with such party. For purposes of this definition only, “control” means, with respect to any Person, the direct or indirect ownership of more than fifty percent (50%) of the voting
or income interest in such Person or the possession otherwise, directly or indirectly, of the power to direct the management or policies of such Person. 

“Applicable Laws” means all applicable laws, statutes, regulations and ordinances. 

“Business Day” means any day other than a Saturday or Sunday that is not a national holiday in the United States. 

“Commercially Reasonable Efforts” means (i) with respect to any objective by any party,
commercially reasonable, diligent, good faith efforts to accomplish such objective as such party would normally use to accomplish a similar objective under similar circumstances; and (ii) with respect to any objective relating to the
development or commercialization of any product by any party, efforts and resources normally used by such party with respect to a product owned by such party at a similar stage in the development or life of such product. 

 “Confidential Information” means any proprietary or
confidential information of either party (including but not limited to all ViewRay Intellectual Property and all MSC Intellectual Property) disclosed to the other party pursuant to this Agreement, except any portion thereof which: (i) is known
to the receiving party, as evidenced by the receiving party’s prior written records, before receipt thereof under this Agreement; (ii) is disclosed to the receiving party by a third person who is under no obligation of confidentiality to
the disclosing party hereunder with respect to such information and who otherwise has a right to make such disclosure; (iii) is or becomes generally known in the public domain through no fault of the receiving party; or (iv) is
independently developed by the receiving party, as evidenced by the receiving party’s written records, without access to such information. 

“Control or Controlled” means, with respect to any Intellectual Property Right, the possession (whether
by ownership, license, or other agreement or arrangement existing now or after the Effective Date, other than pursuant to this Agreement) by a party or an Affiliate thereof of the right to grant to the other party a license as provided herein under
such Intellectual Property Right without violating the terms of any agreement or other arrangement of such party or its Affiliate with any third party. 

“FCA” means “Free Carrier (named place)”, as that expression is defined in Incoterms 2000, ICC Publishing
S.A. 
 “Intellectual Property Right(s)” means all rights in (1) U.S. and foreign utility and/or
design patents, patent applications, and utility models; (2) patents issuing on the patent applications described in clause (1); (3) continuations, continuations-in-part, divisions, reissues, reexaminations, or extensions of the
patents or applications described in clauses (1)-(2); (4) inventions, invention disclosures and improvements, whether or not patentable; (5) works of authorship, whether or not protectable by
copyright, all copyrights to such works, including all copyright registrations and applications and all renewals and extensions thereof; (6) rights in industrial designs, and (7) trade secrets, Confidential Information, know-how,
processes, algorithms, proprietary databases, and other proprietary information, and all tangible and intangible embodiments thereof. 

“MSC Intellectual Property” means, individually and collectively, all Intellectual Property Rights that
are conceived, discovered, developed, generated, created, made or reduced to practice or fixed in a tangible medium of expression by employees or consultants of MSC at any time prior to the Effective Date or after the Effective Date if such
Intellectual Property Rights are not based upon or related to the performance of the Program. The term MSC Intellectual Property, however, does not include any know-how, processes, information and data which is, as of the Effective Date or later
becomes, generally available to the public through no breach by ViewRay of its obligations under this Agreement. MSC Intellectual Property that exists as of the Effective Date includes the Intellectual Property Rights described in
Attachment 3a. 
 “Person” means
any individual, corporation, association, partnership (general or limited), joint venture, trust, estate, limited liability company, limited liability partnership, unincorporated organization, government (or any agency or political subdivision
thereof) or other legal entity or organization, other than MSC or ViewRay. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 “Product” means a source shield that can be incorporated in
the radiation therapy subsystem of the ViewRay RenaissanceTM radiation therapy system. 

“Program” means the development program described in Attachment 1. 

“Program Intellectual Property” means, individually and collectively, all Intellectual Property Rights
that are conceived, created, discovered, developed, generated, made or reduced to practice or fixed in a tangible medium of expression as part of or based upon or related to activities undertaken as part of the Program whether: (a) solely by
one or more employees or agents of MSC; (b) solely by one or more employees or agents of ViewRay; or (c) jointly by one or more employees or agents of MSC and one or more employees or agents of ViewRay. Program Intellectual Property will
be listed in Attachment 3c, which shall be amended from time-to-time to include new Program intellectual Property, in accordance with Section 5.3.
Attachment 3a will document existing MSC Intellectual Property which is of relevance to the Program, and Attachment 3b will document
pre-existing ViewRay Intellectual Property relating to source shield design. 

“Specifications” means the specifications for the Product set forth in
Attachment 1, as they may be amended or supplemented by the parties pursuant to Section 2.4. 

“ViewRay Domain” means the development, production, use, marketing, sale and support of Products to
customers for use in connection with radiation oncology devices. 
 “ViewRay Intellectual
Property” means, individually and collectively, all Intellectual Property Rights that are conceived, discovered, developed, generated, created, made or reduced to practice or fixed in a tangible medium of expression solely by employees
or consultants of ViewRay at any time prior to the Effective Date or after the Effective Date if such Intellectual Property Rights are not based upon or related to the performance of the Program. The term ViewRay Intellectual Property, however, does
not include any know-how, processes, information and data which is, as of the Effective Date or later becomes, generally available to the public through no breach by MSC of its obligations under this Agreement. ViewRay Intellectual Property that
exists as of the Effective Date includes the Intellectual Property Rights described in Attachment 3b. 

1.2 Other Defined Terms. The following terms shall have the meanings set forth in the section appearing opposite such term: 

 

			
	 “Acceptance”
	  	Section 2.3
	 “Act”
	  	Section 4.1
	 “affected party”
	  	Section 10.14
	 “Agreement”
	  	Recitals
	 “Applicable Standards”
	  	Section 4.1
	 “Bankruptcy Code”
	  	Section 5.1
	 “Change Control Document”
	  	Section 2.4
	 “Change Request”
	  	Section 2.4
	 “Deliverable(s)”
	  	Section 2.3
	 “disadvantaged party”
	  	Section 10.14

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	 “DU”
	  	Section 2.3
	 “Effective Date”
	  	Recitals
	 “FDA”
	  	Section 4.1
	 “Force Majeure”
	  	Section 10.14
	 “Forecast”
	  	Section 3.2
	 “Full Production Period”
	  	Section 3.2
	 “Indemnifying Party”
	  	Section 8.4
	 “Losses”
	  	Section 8.2
	 “MDR”
	  	Section 4.3
	 “MSC”
	  	Recitals
	 “MSC Indemnified Party(ies)”
	  	Section 8.3
	 “Net Sales”
	  	Section 5.5
	 “NQA”
	  	Section 4.1
	 “NRC”
	  	Section 4.1
	 “ODH”
	  	Section 4.1
	 “Purchase Order”
	  	Section 3.3
	 “Regulatory Authority”
	  	Section 4.1
	 “Response Period”
	  	Section 2.4
	 “RMA”
	  	Section 3.9
	 “Rules”
	  	Section 10.2
	 “SOPs”
	  	Section 4.3
	 “Term”
	  	Section 9.1
	 “ViewRay”
	  	Recitals
	 “ViewRay Indemnified Party(ies)”
	  	Section 8.2.

 2. DEVELOPMENT PROGRAM 

2.1 Development of Product. The Program is directed toward the development of three prototypes of a Product that meets the applicable Specifications set
forth in Attachment 1 (including the documents referenced therein) and is expected to have a duration of four (4) months. 

2.2 Progress Reports. (a) ViewRay and MSC shall periodically meet, in person or by telephone or videoconference at such times and places as are
mutually agreed upon, for MSC to provide ViewRay with an update on the status of the progress of the Program. ViewRay and MSC shall each be responsible for its own expenses incurred in connection with attending such meetings. The parties’
representatives for purposes of meetings under this Section 2.2 will be MSC’s Director of Engineering, or closest equivalent existing at the time, and ViewRay’s Manager of Hardware Development, or closest equivalent existing at the
time. 
 (b) MSC shall provide ViewRay in advance of each meeting pursuant to Section 2.2(a) an agenda for such meeting and
reasonably-detailed written reports describing the results of the Program, including difficulties encountered in achieving the technical objectives of the Program during the period since their last meeting. It is understood and agreed that neither
party may change the Specifications without the consent of the other party using the procedure set forth in Section 2.4. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 2.3 Deliverables. (a) MSC will produce the deliverables due under
Attachment 1 (each, a “Deliverable”) on the schedule set forth in Attachment 1. ViewRay and MSC shall jointly work to test each Deliverable against the Specifications as
shown in Attachment 1. ViewRay shall be responsible for paying for any testing and testing related cost. Said testing may include [***] in the Depleted Uranium (“DU”) portions of the Deliverable which could
adversely impact its shielding effectiveness; and may require shipment of the Deliverable(s) to a third party facility or to ViewRay’s Oakwood Village facility. If shipment to a third party facility or ViewRay’s facility is made, then
ViewRay will work with MSC to arrange for shipment of the Deliverable(s) and ViewRay will pay for all shipping related costs. If ViewRay accepts the Deliverable based on such testing, ViewRay shall acknowledge its acceptance
(“Acceptance”) of the Deliverable in writing. If ViewRay rejects the Deliverable, ViewRay shall provide MSC with notice of rejection, including a reasonably specific description of the deficiencies alleged. MSC will use Commercially
Reasonable Efforts to cure any such deficiencies in an expedient manner and either “re-deliver” such Deliverable to ViewRay within ten (10) Business Days following the notice of rejection or, if
MSC cannot accomplish such re-delivery within such 10-Business Day period deliver to ViewRay within such 10-Business Day period a
plan for curing said deficiencies. If MSC makes re-delivery of the Deliverable, ViewRay shall, following its receipt of the re-delivered Deliverable, accept or reject
the Deliverable using the procedure specified above. If MSC instead provides a correction plan for such Deliverable, ViewRay shall within five (5) Business Days following receipt of such correction plan either agree to, offer modifications of
or reject said correction plan. The parties shall repeat the above process until the earlier of the date that a mutually acceptable correction plan is agreed or thirty (30) Business Days following ViewRay’s notice of rejection. If the
parties are unable to agree on a mutually acceptable correction plan, and do not extend the timeframe for reaching an accepting a mutually acceptable plan, then ViewRay may terminate this Agreement and ViewRay will “return” the Deliverable
to MSC and MSC shall, within thirty (30) days following receipt of the rejected Deliverable, return to ViewRay all sums (if any) paid by ViewRay to MSC for the Deliverable that is the subject of such rejection (but shall not be required to
return the funding provided pursuant to Paragraph 1 of Attachment 2 through the date of termination). If the parties do agree upon a correction plan, then MSC shall perform such correction plan and “re-deliver” the Deliverable within the agreed time period. ViewRay shall, following its receipt of the re-delivered Deliverable, accept or reject the Deliverable
using the procedure specified above. The process specified in this Section 2.3 shall be repeated until the earliest of the date: (i) ViewRay accepts the re-delivered Deliverable; or (ii) ViewRay
rejects the Deliverable two (2) times for failure to comply with the Specifications; or (iii) one hundred eighty (180) days elapses from the initial notice of rejection. If the parties are unable to resolve such nonconformity within
such time period, then ViewRay may terminate this Agreement and ViewRay may “return” the Deliverable to MSC and MSC shall, within thirty (30) days following receipt of the rejected Deliverable, return to ViewRay all sums (if any) paid
by ViewRay to MSC for the Deliverable that is the subject of such rejection (but shall not be required to return the funding provided pursuant to Paragraph 1 of Attachment 2 through the date of termination. 

(b) It is understood and agreed that the Deliverables need not be error-free to have achieved the requirements for ViewRay to make
payment of the progress payments (if any) specified in Attachment 2, but if any Deliverable delivery or redelivery contains errors that individually or in the aggregate adversely affect ViewRay’s ability to use such
Deliverable in accordance with  

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
the applicable Specifications, ViewRay may rightfully reject such Deliverable delivery or redelivery. Notwithstanding the foregoing, Acceptance will not relieve MSC of its obligation to fix all
identified errors in a timely fashion. ViewRay’s obligations to pay for the Deliverables are subject to Acceptance, ViewRay shall have no obligation to pay for Deliverables except to the extent they are the subject of ViewRay’s Acceptance.

 (c) ViewRay will use Commercially Reasonable Efforts to test each Deliverable as quickly as practicable and in any event within thirty
(30) days of “delivery” of such Deliverable. In the event that ViewRay has not tested a Deliverable within sixty (60) days, then such Deliverable shall be deemed to have been acceptable and accepted by ViewRay. 

2.4 Changes. (a) During the Program, ViewRay may request amendments to Attachment 1 to effect changes in the
Specifications. If ViewRay wishes to make a change it shall notify MSC of the requested change specifying the change with sufficient details to enable MSC to evaluate it (a “Change Request”). Within ten (10) Business
Days, or such longer period as may be agreed to between the parties, following the date of MSC’s receipt of a ViewRay Change Request, MSC shall deliver a document that: (i) assesses the impact of the change on the schedule, and
(ii) incorporates a description of the requested change and the price therefor (a “Change Control Document”). 

(b) Within ten (10) Business Days following ViewRay’s receipt of a MSC Change Control Document (“Response
Period”), ViewRay will notify MSC whether or not it accepts the Change Control Document. If ViewRay accepts the Change Control Document, then the provisions of this Agreement shall be deemed amended to incorporate such change in
accordance with the Change Control Document. If ViewRay notifies MSC not to proceed within the Response Period, then the Change Request shall be deemed withdrawn and MSC shall take no further action in respect of it. If MSC has not received any
notice by the expiration of the Response Period, then ViewRay shall be deemed to have advised MSC not to proceed. A separate Change Control Document will be required for each Change Request but a Change request may include multiple changes; and each
Change Control Document will become subject to this Agreement when signed by MSC and ViewRay. 
 (c) MSC may not make any
changes in the form, fit, function, design, manufacturing process, manufacturing location or appearance of the Products or the Specifications without ViewRay’s prior written approval, which shall not be unreasonably withheld. 

(d) It is the intent of the parties that the Specifications have been defined broadly enough and with sufficient detail to accomplish
ViewRay’s goal for the Product without price increases even if the services are changed pursuant to this Section 2.4; provided that such changes, as documented in a Change Control Document, do not change the scope of the tasks
contemplated by the Specifications, as reasonably determined by MSC. 
 2.5 Success Criteria. If the Product prototypes delivered at the completion
of the Program meets the applicable Specifications, then the provisions of Section 3 shall take effect. If the Product prototype delivered at the completion of the Program does not meet the Specifications or if ViewRay and MSC determine
during the course of the Program that the results of the Program are unsatisfactory; which determination shall be made with reference to the prospects for 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
realizing Products that meet the Specifications then in each case they may mutually agree to terminate the Program under Section 9.2(b). If the parties do not agree with respect to
termination of the Program, they shall resolve such dispute using the procedure specified in Section 10.2(a)-(b). ViewRay’s notice of Acceptance of the final Deliverables shall confirm the end of the
Program and the initiation of the commercial supply arrangements described in Section 3. 
 2.6 Pricing. Pricing for effort and items delivered
under this Section 2 will be as set forth in Attachment 2. 
 2.7 Payment. All payments under this Section 2 will
be made by check or wire transfer. Payments will be made in US dollars. All amounts due under this Section 2 will be due within thirty (30) days of Acceptance (to the extent applicable as indicated on
Attachment 2) and following receipt of invoice. MSC will invoice ViewRay upon completion of each Program Phase Milestone as per Attachment 2. 

3. PURCHASE OF PRODUCTS AND TERMS OF SALE 
 3.1
Supply. If the Products meet the Specifications then ViewRay will purchase from MSC during the period ending on the fifth anniversary of the Effective Date ViewRay’s requirements for the Products. 

3.2 Purchase Forecasts. At least one hundred twenty days (120) days prior to the first delivery to ViewRay of commercial Products, ViewRay will
deliver to MSC a six month (6) month rolling forecast (the “Forecast”). The Forecast will cover the 6 months commencing with and including the calendar month in which the first delivery of Products is to occur. After
delivery of the initial Forecast, the Forecast will be updated on a monthly basis. During the period prior to the date when ViewRay Product demand (as measured by units of Product received by ViewRay), averages [***] or more Products per month
over a [***] period the Forecast shall be non-binding until [***] prior to the forecast shipment date at which time the quantities become binding on ViewRay. Thereafter (the “Full Production Period”), the Forecast shall be
non-binding until [***] prior to the forecast shipment date at which time the quantities become binding on ViewRay. 
 3.3 Product Orders. ViewRay
will submit to MSC firm written purchase orders (each a “Purchase Order”) for the purchase of Products at least sixty (60) days prior to the specified delivery date of the ordered Products. Each Purchase Order will
specify the quantity or, if more than one shipment is requested, quantities of Products ordered, the requested delivery date or dates, and ship-to locations. Orders will be placed by ViewRay to MSC by mail or
facsimile, or by other means agreed upon by the parties. In the case of conflict between the provisions of this Agreement and either the standard printed terms of any Purchase Order or the standard printed terms of sale of MSC, the provisions of
this Agreement will control. Purchase Orders may not be cancelled, but ViewRay may delay shipment for up to thirty (30) days with notice to MSC delivered at least thirty (30) days prior to the scheduled delivery date. 

3.4 Acceptance; Obligation to Supply. (a) MSC will acknowledge all Purchase Orders within five (5) Business Days following receipt of same
and will deliver all orders within ninety (90) days following the date such Purchase Order is received. MSC will accept all Purchase 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
Orders for a particular calendar month to the extent that the Purchase Order (i) does not exceed the amount of the firm Forecast for such calendar month, and (ii) requires delivery no
less than sixty (60) days following the date on which MSC receives the Purchase Order. MSC will not be in breach of this Section 3.4 if MSC’s failure to supply Products is due to a Force Majeure event or if MSC’s failure is
limited to quantities in excess of the quantities specified in the binding Forecast period. 
 (b) Each party will promptly notify the other
party of any circumstances that it believes may be of importance as to MSC’s ability to meet ViewRay’s needs for the Products in a timely manner. If the Forecasts indicate that ViewRay’s need for the Products will exceed MSC’s
existing capacity to supply the Products, the parties will determine in good faith whether MSC successfully can expand its production capacity so as to meet ViewRay’s needs in a timely manner. 

3.5 Pricing. (a) After furnishing [***] under the Program covered by Section 2, the next [***] of Products purchased, pursuant this
Section 3 (i.e., units [***]), will be priced at $[***] per unit. 
 (b) The prices for subsequent units of Product, from
unit [***] up to and including unit [***], purchased by ViewRay pursuant to this Section 3 shall be priced at $[***] per unit. Prices stated are firm for such [***] units of Product ordered and for which delivery is requested
within [***] after the Effective Date. The pricing for any portion of such [***] units of Product ordered after the expiration of such [***] period or with delivery requested after such [***] period, the price per unit of Product will increase
by [***]. 
 (c) Pricing and the pricing scheme, including quantity discounts, for additional units of Product purchased by ViewRay beyond
the initial [***] units will be established using the procedure set forth in this Section 3.5(c). Not later than the date MSC delivers the [***] unit of Product to ViewRay pursuant to this Section 3, at MSC’s option, MSC may
calculate and compare its actual direct costs of production for Products (i.e., for the [***] units of Products delivered pursuant to this Section 3), against its forecasted direct costs of production of Products, which formed the basis of
the pricing applicable for Product units [***] in Section 3.5(b) and request a pricing adjustment pursuant to this Section 3.5(c). If MSC determines that it will perform the estimated versus actual direct cost of production
comparison, then MSC will provide, ViewRay with a copy of such comparison, including documentation of such price components, and may request a one-time price adjustment that will be applicable for units of Product after unit [***] to cover any
variance between the estimated direct costs of production and the actual direct costs of production. ViewRay will have thirty (30) days to review the proposed price adjustment and will either accept it or reject it; it being understood that in
the event ViewRay rejects the proposed pricing adjustment, and the parties are unable to negotiate pricing that is mutually acceptable within sixty (60) days following such rejection, ViewRay’s obligation to purchase its requirements of
Products under Section 3.1 shall be of no further effect. If MSC does not exercise its option pursuant to this Section 3.5(c) it shall notify ViewRay at the time it delivers the [***] unit of Product and the pricing for additional units of
Product supplied to ViewRay pursuant to this Section 3 shall be $[***] per unit, subject to the adjustments set forth in Sections 3.5(d)-(e). 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 For purposes of this Section 3.5(c), MSC’s “direct costs of production” means
the [***] (including [***]) and [***] (including [***]) specifically allocable to the [***] of the [***]; such calculation and allocation being based upon generally accepted accounting principles and contract manufacturing industry standards and
consistent with the normal accounting practices for all products manufactured in the applicable facility. Any significant costs not described above or unusual cost items (i.e. [***]) shall be provided to ViewRay and subject to approval prior to
inclusion in the direct costs of production. 
 (d) Not more than [***] of the date that MSC delivers the [***] unit of product per
Section 3.5(c), MSC will adjust the prices for the Products, units [***] and beyond, during the next [***] period to reflect increases or decreases in the cost of [***] for the production of Products, provided that the adjustment for [***]
shall not exceed the change, if any, in the [***] as compared to the [***]. Any such price adjustment shall be made with notice to ViewRay, including documentation of such [***] price changes and upon ViewRay’s request, MSC shall make all
applicable books and records available for such inspection during normal business hours at MSC’s facility for purposes of verifying such cost adjustments. [***], as published by the [***]. In the event that the [***] precludes its further use
under this Agreement, ViewRay and MSC shall substitute another comparable measure published by an agreed-upon source. 
 (e) Except as
otherwise agreed by the parties or as provided in Sections 3.5(b), 3.5(d) and 3.11(a), MSC will not increase prices for the Products. 
 3.6
Payment. All payments under this Section 3 will be made by check or wire transfer. Payments will be made in US dollars. All amounts due under this Section 3 will be due within thirty (30) days of receipt of invoice. MSC will
invoice ViewRay upon shipment. 
 3.7 Resale Prices. Nothing contained herein shall be deemed to limit in any way the right of ViewRay to determine
the prices at which, or the terms on which, the Products purchased by ViewRay may be resold by ViewRay as part of ViewRay products or services. 
 3.8
Shipping. MSC shall arrange for shipment and invoicing to ViewRay of the Products ordered by ViewRay via common carrier, FCA MSC’s facility. ViewRay shall pay all transportation, customs, duties and other governmental charges, if any,
relating to the importation and sale of the Products, and shall have all responsibility for storing and clearing the Products through all customs and importation requirements. 

3.9 Defective Product. (a) MSC will at its expense and at no further cost to ViewRay replace Products that do not conform to the applicable
warranties specified in Section 7.2 during the applicable warranty period specified therein using the procedure specified in this Section 3.9. ViewRay will notify MSC in writing of any alleged defect of Product, will request a Return
Material Authorization (“RMA”) number and will within 30 days of receipt of such RMA number return such Product to MSC freight prepaid and properly insured, along with a reasonably detailed statement of the claimed
defect and proof of date of purchase. Such notice and statement may be sent to an e-mail address provided by MSC, which will initially be [***]. MSC will use Commercially Reasonable Efforts to deliver
replacement Product to ViewRay or its designated customer freight prepaid and properly insured with earliest delivery which can be obtained subject to sub MSC and/or MSC availability of said parts; provided, that for those 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
Product components that are the subject of Section 3.9(b), ViewRay may elect to use the procedure described in Section 3.9(b) to replace the applicable Product components. In the event
that MSC reasonably determines that any allegedly nonconforming Product is in fact not defective (including Product that has been modified, misused, abused or the subject of unauthorized repair), MSC will notify ViewRay in writing and ViewRay will
reimburse MSC for all reasonable costs and expenses related to the inspection, the cost of the replacement Product (if any), and the cost of the return of such Product to ViewRay (if applicable). ViewRay will only return Products to MSC with
MSC’s prior written approval. If ViewRay disputes MSC’s determination that a Product is not defective, the dispute will be discussed and resolved using the procedure provided in Section 10.2. 

3.10 Manufacturing Rights. (a) if MSC fails to supply Product ordered by ViewRay in accordance with the terms of this Agreement regarding the
quantity or quality of Products supplied to ViewRay, then MSC shall within ten (10) Business Days of said failure present ViewRay with a plan to remedy the problem and shall use Commercially Reasonable Efforts to execute such plan and remedy
the problem or MSC shall secure an alternative source of supply within a reasonable time at no cost to ViewRay. Any such alternative source of supply shall be on terms substantially identical with the terms of this Agreement. If MSC is unable to
provide a plan to remedy the problem or secure an alternative source of supply within [***] after its initial failure to supply, then MSC shall consult with ViewRay and the parties shall work together to remedy the problem. If MSC is unable to
remedy the supply problem after an [***] (or longer as agreed in writing by the parties), commencing with the date upon which such failure to supply began, then ViewRay may at its option, and upon notice to MSC, manufacture the Products itself or
through a third party in accordance with the provisions of Section 3.10(b). 
 (b) If ViewRay notifies MSC that ViewRay will
manufacture the Products itself or through a third party, MSC shall (1) deliver to ViewRay within thirty (30) days media embodying or disclosing all Program technology and Program proprietary or intellectual property rights necessary to
enable ViewRay or its designee to manufacture Products conforming with the Specifications; and (2) provide ViewRay or its designee, upon request, with reasonable assistance in establishing a back-up
manufacturing line. ViewRay shall require any third party ViewRay designates to manufacture Products pursuant to this Section 3.10, to agree in writing to observe the terms of this Agreement relating to confidentiality and the manufacture of
Products. Notwithstanding any provision of this Section 3.10 to the contrary, in no case shall MSC be required to pay ViewRay in respect of any Products purchased by ViewRay from a third party operating a
back-up manufacturing line established pursuant to this Section 3.10 or manufactured by ViewRay or its Affiliates pursuant to this Section 3.10. 

(c) Within three (3) months following the date ViewRay accepts the final Deliverable pursuant to Section 2, MSC shall provide
ViewRay, upon request, with assistance in qualifying a second source for the Products in the event that ViewRay should need to resort to this Section 3.10 upon a MSC supply failure. MSC shall deliver to ViewRay or the proposed second source
manufacturers media embodying or disclosing all information necessary to enable ViewRay and such second source manufacturer to evaluate their ability to manufacture Products conforming with the Specifications; and MSC shall make itself available to
respond to reasonable requests for information concerning the manufacturing requirements for the Products. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
All such disclosure to ViewRay shall be subject to Section 6 and all such disclosures to second source manufacturers shall be made to such second source manufacturers under a written
confidentiality containing terms no less restrictive than Section 6. ViewRay shall pay MSC’s labor cost at the then current hourly rates plus reasonable travel and out of pocket expenses in providing such assistance. 

3.11 Changes. (a) The Product Specifications for “commercial” Product supplied pursuant to this Section 3 may be modified or
changed only by ViewRay. ViewRay shall use the procedure specified in Section 2.4(a)-(b) to request such modifications or changes, except as modified in this Section 3.11. To the extent that any such
modification or change results in an increase or decrease in the cost of manufacturing any Product or requires additional capital investment or other material changes to the manufacturing process, the parties shall jointly examine and mutually agree
upon the consequences thereof and shall make an appropriate increase or decrease to the purchase price of such Product arising from such modification or change. In the event that any such change or modification results in the obsolescence of any raw
materials, work-in-process, and/or finished materials, the cost of any such obsolescence shall be the sole responsibility of ViewRay to a maximum of material value attributable to open purchase orders and any additional Product in the then current
Forecast with planned shipment within (3) months of the change date. At least four (4) weeks prior notice is required for any requested Product Specifications change pursuant to this Section 3.11; provided, however, that
if any requested Product Specifications change requires additional regulatory approval(s), the implementation of such requested change shall in no event be required until four (4) weeks after such approval(s) have been obtained. MSC shall not
be required to implement any change to the Product Specifications that it reasonably believes will prevent it from being able to perform in accordance with the terms of this Agreement unless such terms are modified. If MSC notifies ViewRay that it
believes the preceding sentence is applicable the parties shall meet and attempt to resolve the matter within ninety (90) days using the procedure specified in Section 10.2 if necessary; during any such period the Product will continue to
be manufactured under the Product Specifications without such modification. If the parties are unable to resolve such matter within such 90-day period, then ViewRay may terminate this Agreement in accordance
with Section 9.2(b) and MSC shall continue to supply the Product to ViewRay under the Product Specifications without such modification for a period of up to twelve (12) months using the procedure specified in Section 9.3(c). 

(b) MSC will not alter, modify, add to, or otherwise change the Product Specifications, Product, or any materials, suppliers or manufacturing
techniques used in the design or production of the Products that will or may possibly affect the form, fit or function of the Products without ViewRay’s prior written approval. ViewRay may require MSC to make changes in raw materials or
processes subject to a mutually agreed price adjustments. MSC may rebalance its production line in its reasonable business judgment; provided that the rebalancing makes no change to and has no effect on the form, fit or function of the
Products. ViewRay will not make any changes to the Product Specifications without notifying MSC in accordance with section 3.11(a). 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 4. QUALITY ASSURANCE; SUPPORT 

4.1 Manufacturing Practices; Testing. MSC shall manufacture the Products supplied pursuant to Section 3 in accordance with mutually agreed quality
standards and the Specifications. MSC will install and maintain effective quality control systems, conduct quality assurance testing and keep comprehensive statistical process control records conforming to (1) standards provided or approved by
ViewRay and/or required of such process or processes for similar products; (2) appropriate best practices, including the then applicable good manufacturing practices regulations of the U.S. Food and Drug Administration
(“FDA”) under 21 C.F.R. Part 820, and the then applicable Nuclear Quality Assurance (“NQA”) regulations of the Nuclear Regulatory
Commission (“NRC”) under 10 C.F.R. Part 830 or corresponding “Agreement State” regulations (as defined under the NRC regulations), or comparable regulations of any other
supra-national, regional, federal, state, or local regulatory agency or authority that has authority to grant registrations, authorizations, licenses and approvals necessary for the commercial manufacture, distribution, marketing, promotion, sale,
use, importation, or exportation of the Products (each, including the FDA, the NRC and the Ohio Department of Health (“ODH”) (as an Agreement State), a “Regulatory Authority”) that apply to the
manufacture of the Products and the delivery of the Products to ViewRay (“Applicable Standards”); and (3) other requirements set forth herein. 

4.2 Regulatory Clearances. ViewRay will have sole responsibility and authority for obtaining and maintaining regulatory clearances of the ViewRay
system, including the Product (and all improvements or variations to the Product developed during the term of this Agreement), including without limitation obtaining and maintaining approvals and clearances from the FDA, the ODH and any other
Regulatory Authority necessary for the handling of DU in connection with the ViewRay system incorporating the Product or the commercial distribution and sale of the ViewRay system incorporating the Product. All regulatory filings with the FDA, ODH
or any other Regulatory Authority relating to the ViewRay system incorporating the Product will be made in the name of ViewRay or its designee and ViewRay will be responsible for maintaining the required records for such system. 

4.3 Quality Assurance Inspections. (a) During regular business hours and upon reasonable advance notice and in a manner that does not disrupt or
interfere with the business of MSC, MSC will permit ViewRay and its agents and its customers to inspect the facilities of MSC and provide access to MSC’s manufacturing quality control documentation related to the Products to the extent
necessary for, and for the purpose of assessing MSC’s compliance with this Agreement. As a condition of provision to ViewRay agents or ViewRay customers of access to MSC’s facilities and documentation, all information obtained by ViewRay
agents or ViewRay customers as a result of such access will be MSC Confidential Information for purposes of this Agreement. MSC may require any agent or customer of ViewRay seeking access to MSC’s facilities under this Section 4.3(a), as a
condition to such access, to execute a standard confidentiality agreement with MSC under which such agent agrees to treat information disclosed during such inspection as the Confidential Information of MSC under terms and conditions no less
restrictive than the terms contained in Section 6.2. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (b) If an inspection pursuant to Section 4.3(a) reveals that the facilities used to
manufacture Products do not satisfy the Applicable Standards in all material respects, then ViewRay will promptly provide to MSC written notice of such fact, which notice will contain in reasonable detail the deficiencies found in the manufacturing
facilities and, if practicable, those steps ViewRay believes MSC should undertake in order to remedy such deficiencies. MSC will remedy such deficiencies within a reasonable period of time after receipt of such written notice. 

(c) MSC will maintain manufacturing quality documentation and will certify that Product was manufactured and tested in accordance with the
applicable Specifications and Applicable Standards. ViewRay may request copies of such certifications as part of the inspections permitted under Section 4.3(a). 

(d) MSC will comply with the applicable Specifications and Applicable Standards in its manufacturing of the Products. Prior to shipping any
Product, MSC will carry out the Product tests specified in the applicable Specifications on each Product. If a Product or any part of a Product fails to meet the Specifications, the Product will be repaired or replaced by MSC as set forth in
Section 7.4.3 and the relevant test will be repeated until such Product passes such test requirements. No Product will be shipped to ViewRay or its designee without passing all tests specified in the Specifications. 

4.4 Recalls. (a) Prior to the commercial release of the ViewRay system incorporating the Product, ViewRay will provide MSC with ViewRay’s
standard operating procedures (“SOPs”) as to recalls. If either party becomes aware of information about any Product indicating that it may not conform to the applicable Specifications, it will promptly so notify the other
party. The parties will promptly confer to discuss such circumstances and to consider appropriate courses of action, which courses of action will be consistent with the SOPs. ViewRay will have the right to initiate, and will bear all costs
associated with, a recall, withdrawal, or field correction of the Product for any reason; provided that ViewRay may proceed against MSC pursuant to Section 7.3 if such recall, withdrawal, or field correction of the Product is the direct
result of (i) any breach by MSC of its duties under the Agreement or (ii) MSC’s negligence or willful misconduct. 
 (b) With
respect to any recall, withdrawal, or field correction of a Product, ViewRay or its designee will be responsible for coordinating all of the necessary activities in connection with such recall, withdrawal, or field correction. ViewRay and MSC will
coordinate any statements to customers and the media, including, but not limited to, press releases and interviews for publication or broadcast and neither party will issue any such statements without consulting with the other. The parties will
reasonably cooperate with each other in the conduct of such activities and will perform any acts reasonably requested by the other party to facilitate the recall, withdrawal or field correction. Each party will keep the other party fully informed of
progress and in relation to all material decisions or actions such party undertakes pursuant to this Section 4.3(b). 

(c) Each party will promptly (within 2 working days unless a shorter time period is required under applicable law) notify
the other party in writing of any event or complaint that gives rise or could give rise to the need to file a Medical Device Report (an “MDR”) within the meaning of the Federal Food, Drug and Cosmetic Act of 1941, as amended
(the “Act”) or a Notification of Noncompliance, Defect or Incident Report, within the meaning of 10 C.F.R. Part 21 or a similar report under the laws or regulations administered by any Regulatory Authority, with
respect to  

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
any Product or the manufacture, distribution or use thereof. Each such written notice will be Confidential Information under this Agreement. If, as a result of any corrective action or any final,
non-appealable or non-appealed governmental or court action, a report, notification, withdrawal, recall, or field action is required to be issued for any Product sold hereunder, ViewRay will bear the costs and expenses of and will be responsible for
all such reports, notifications, withdrawals, recalls, or field actions but may proceed against MSC pursuant to Section 7.3 if such report, notification, withdrawal, recall, or field action is the direct result of (i) any breach by MSC of
its duties under the Agreement or (ii) MSC’s negligence or willful misconduct. 
 5. LICENSES; PROPRIETARY RIGHTS 

5.1 MSC Licenses. (a) MSC hereby grants to ViewRay and ViewRay hereby accepts, a worldwide, perpetual,
paid-up and royalty-free license, including the right to grant sublicenses, to use the MSC Intellectual Property Rights and the Program Intellectual Property Rights owned by MSC for the purpose of developing
Products and delivering services that embody or utilize the Products to customers within the ViewRay Domain. ViewRay will not use MSC Intellectual Property for any other purpose, without MSC’s prior written permission and ViewRay shall not
grant, or attempt to grant, a sublicense under this Section 5.1(a) to use MSC Intellectual Property Rights, including the Program Intellectual Property Rights owned by MSC outside the ViewRay Domain without the express written consent of MSC.

 (b) The license granted under Section 5.1(a) excludes the right to sublicense or otherwise practice the MSC Intellectual Property
and the Program Intellectual Property owned by MSC for the purpose of making or having made Products except as otherwise provided under Section 3.10. 

(c) The license granted under this Section 5.1 shall be treated as a license of rights to “intellectual property” (as defined
in Section 101(56) of Title 11 of the United States Code, as amended (the “Bankruptcy Code”)) for purposes of Section 365(n) of the Bankruptcy Code. The parties agree that ViewRay may elect to retain and may
fully exercise all of its rights and elections under the Bankruptcy Code provided, that it abides by the terms of this Agreement. 
 5.2 ViewRay
Licenses. ViewRay hereby grants and agrees to grant to MSC, solely to provide the applicable services under this Agreement and to supply Deliverables (during the Program) and Products (pursuant to Section 3) to ViewRay, a non-exclusive, paid-up and royalty-free license to use the ViewRay Intellectual Property and the Program Intellectual Property owned by ViewRay in connection with its performance of the Program and its supply of Products pursuant
to Section 3. Upon the expiration or termination of the applicable Program work, MSC’s license shall terminate and be of no further force or effect. 

5.3 Reservation of Rights. (a) This Agreement does not convey to ViewRay any ownership rights in any portion of any MSC Intellectual Property or
the Program Intellectual Property owned by MSC by implication, estoppel or otherwise, but constitutes only a license to use the MSC Intellectual Property and the Program Intellectual Property owned by MSC as necessary to give effect to the license
and in accordance with all of the terms of this Agreement. Title to the MSC Intellectual Property and the Program Intellectual Property owned by MSC, shall at all times remain vested in MSC. All rights in and to the MSC Intellectual Property and the
Program Intellectual Property owned by MSC not expressly granted under this Agreement are reserved to and retained by MSC. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (b) This Agreement does not convey to MSC any ownership rights in any portion of the ViewRay
Intellectual Property or the Program Intellectual Property owned by ViewRay by implication, estoppel or otherwise. Title to the ViewRay Intellectual Property and the Program Intellectual Property owned by ViewRay shall at all times remain vested in
ViewRay. All rights in and to the ViewRay Intellectual Property and the Program Intellectual Property owned by ViewRay not expressly granted under this Agreement are reserved to and retained by ViewRay. 

(c) Title to and any interest in Program Intellectual Property described in clause (a) of the Program Intellectual Property definition
shall be the property of MSC. Title to and any interest in Program Intellectual Property described in clause (b) of the Program Intellectual Property definition shall be the property of ViewRay. Title to and any interest in Program Intellectual
Property described in clause (c) of the Program Intellectual Property definition shall be owned jointly by MSC and ViewRay; provided, that, except as set forth in subsection (e) below, ViewRay shall not use such jointly owned
Program Intellectual Property except in connection with the practice of the license granted under Section 5.1. 
 (d) For purposes of
this Agreement, except as otherwise set forth in this Agreement, the determination of as to which party invented any invention will be made in accordance with the standards of inventorship and conception under title 35 of U.S. Code and
title 37 of U.S. Code of Federal Regulations. 
 (e) During the term of this Agreement, each party shall promptly disclose to
the other in writing any Program Intellectual Property that might, under applicable law, be patentable or otherwise protectable. Program Intellectual Property (including, without limitation, improvements thereon whether developed by such party or
any employee, or agent of such party) will be added to Attachment 3c. Within forty five (45) days following the date of such disclosure regarding the existence of particular Program Intellectual Property (including,
without limitation, improvements thereon whether developed by a party or any employee or agent of such party) that is jointly owned, the parties shall confer and mutually agree as to appropriate protection for such Program Intellectual Property,
including an application, preparation, prosecution and maintenance strategy. If the parties cannot agree upon whether or not to seek patent or other protection with respect to any Program Intellectual Property that is jointly owned, the party
desiring to seek such protection may take whatever actions it deems necessary or appropriate to seek such protection in any and all jurisdictions deemed appropriate by such party at its cost and expense, and the other party shall assign to the party
desiring to seek such protection all right, title and interest in and to such Program Intellectual Property and shall cooperate and assist the party seeking such protection in such efforts at the cost and expense of the party seeking such
protection; whereupon the party to which such Program Intellectual Property has been assigned shall grant to the assignor thereof a non-exclusive, worldwide, irrevocable, paid-up, royalty-free, sub-licensable
license: (i) if ViewRay is the licensee, to make, have made, use, practice, offer to sell, sell and import, export and otherwise commercially exploit such Program Intellectual Property within the ViewRay Domain; and (ii) if MSC is the
licensee, to make, have made, use, practice, offer to sell, sell and import, export and otherwise commercially exploit such Program Intellectual Property outside of the ViewRay Domain. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (f) MSC shall have the sole right, but not the obligation, to file, prosecute, and maintain, at
MSC’s sole expense, patents covering Program Intellectual Property owned solely by MSC. MSC shall promptly furnish or have furnished to ViewRay copies of all patents, patent applications, substantive patent office actions, and substantive
responses received or filed in connection with such applications (excluding patents and patent applications covering solely MSC Intellectual Property that is not licensed to ViewRay under Section 5.1). In the case of patent applications and
responses, copies will be furnished to ViewRay at least fifteen (15) days before filing or mailing, as the case may be. ViewRay may itself or through its attorney offer comments and suggestions with respect to the matters that are the subject
of this Section 5.3(f) and MSC agrees to consider such comments and suggestions; provided that nothing herein shall obligate MSC to adopt or follow such comments or suggestions. ViewRay shall cooperate in the preparation, filing, prosecution
and maintenance of any and all patent applications and patents covering Program Intellectual Property owned solely by MSC. MSC shall promptly provide notice to ViewRay as to all matters that come to its attention that may affect the preparation,
filing, prosecution or maintenance of any patents or patent applications covering Program Intellectual Property owned solely by MSC. In the event that MSC elects not to file for patent protection or elects not to prosecute or maintain a patent or
patent application in respect of Program Intellectual Property owned solely by MSC it shall notify ViewRay of such decision at least forty five (45) days prior to the due date of any action or payment due. ViewRay shall then have the right, but
not the obligation, to assume the responsibility therefor at its own cost and expense. 
 (g) ViewRay shall have the sole right, but not the
obligation, to prepare, file, prosecute, and maintain, at ViewRay’s sole expense, patents covering Program Intellectual Property owned solely by ViewRay. ViewRay shall promptly furnish or have furnished to MSC copies of all patents, patent
applications, substantive patent office actions and substantive responses relevant to the design or manufacturing practice of source shield, received or filed in connection with such applications. In the case of such patent applications and
responses, copies will be furnished to MSC at least fifteen (15) days before filing or mailing, as the case may be. MSC may itself or through its attorney offer comments and suggestions with respect to the matters that are the subject of this
Section 5.3(g) relating to the design or manufacturing practice of source shield and ViewRay agrees to consider such comments and suggestions; provided that nothing herein shall obligate ViewRay to adopt or follow such comments or
suggestions. MSC shall cooperate in the preparation, filing, prosecution and maintenance of any and all patent applications and patents covering Program Intellectual Property owned solely by ViewRay. 

5.4 Enforcement. (a) MSC shall be solely responsible for defense and enforcement of MSC Intellectual Property and Program Intellectual Property
owned by MSC, but in each case subject to the provisions of Section 5.4(b) with respect to enforcement within the ViewRay Domain. ViewRay shall be solely responsible for the defense and enforcement of ViewRay Intellectual Property and Program
Intellectual Property owned by ViewRay. 
 (b) MSC shall have the first option to pursue any enforcement of MSC Intellectual Property and
Program Intellectual Property owned by MSC within the ViewRay Domain; provided, that MSC pays all costs and expenses’ related to the same, keeps ViewRay reasonably informed of its progress and provides ViewRay with copies of any
substantive documents related to such 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
proceedings and reasonable notice of all such proceedings. MSC’s costs and expenses in prosecuting or defending such matters shall be subject to reimbursement in accordance with
Section 5.4(d). MSC shall notify ViewRay of its decision to exercise its right to enforce or defend such intellectual property within the ViewRay Domain not later than ninety (90) days following its discovery or receipt of notice of the
alleged infringement. 
 (c) If (i) MSC notifies ViewRay that it will not exercise its option to enforce any intellectual property in
accordance with Section 5.4(b); (ii) ViewRay and MSC have not otherwise agreed not to pursue or defend against such infringement for business reasons; (iii) MSC has not persuaded the alleged infringer to desist or the person alleging
the infringement to forebear, (iv) MSC is not diligently pursuing an infringement action or diligently defending the validity or enforceability of such intellectual property within the ViewRay Domain; or (v) MSC has not provided ViewRay
with evidence of bona fide negotiations of an acceptable sublicense agreement with the alleged infringer or person alleging infringement, then ViewRay shall have the right to pursue legal action against the alleged infringer or take control of any
action initiated by, or being defended by, MSC at ViewRay’s own cost and expense. 
 (d) Any recovery of damages in any suit handled by
one party pursuant to Section 5.4(b) or Section 5.4(c) shall be applied first in satisfaction of any unreimbursed expenses and legal fees of the party handling the suit or settlement thereof. The balance of any recovery obtained by
settlement or otherwise shall be distributed: (i) first to ViewRay in an amount equal to a reasonable royalty on the sales of the infringer, and (ii) then to MSC in an amount equal to the sums due MSC based on such sales (assuming MSC had
made sales of Products to ViewRay in respect of the sales of the infringer). The balance, if any, remaining after ViewRay and MSC have been compensated pursuant to Section 5.4(d)(i)-(ii) shall be divided
equally between the parties. No settlement, consent judgment or other voluntary final disposition of any suit subject to Section 5.4(b) or Section 5.4(c) may be entered into without the consent of the other party, which consent shall not
be unreasonably withheld. 
 (e) In any infringement suit as either party may institute to enforce Intellectual Property Rights covered by
this Section 5.4, or in any declaratory judgment action alleging invalidity or non-infringement of any Intellectual Property Rights covered by this Section 5.4 brought against MSC or ViewRay, the other party shall, at the request and
expense of the party initiating or defending the suit or action, cooperate and assist in all reasonable respects, having its employees testify when requested and making available relevant records, papers, information, specimens and the like. 

6. CONFIDENTIALITY 
 6.1 Publicity. The terms of
this Agreement (including its existence) shall be treated as the Confidential Information of both parties and neither party will issue any press release or make any other statement, written or oral, to the public, the press or otherwise, relating to
this Agreement and the transactions contemplated by this Agreement that has not previously been approved in writing by the other party. Nothing in this Section 6.1 shall prohibit a party from making such disclosures to the extent required under
applicable federal or state securities laws or any rule or regulation of any nationally recognized securities exchange. In such event, however, the disclosing party shall use good faith efforts to notify and consult with the other party prior to
such disclosure and, where applicable, shall diligently seek confidential treatment to the extent 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
such treatment is available under applicable securities laws. Each party may provide a copy of this Agreement or disclose the terms of this Agreement: (a) to any finance provider in
conjunction with a financing transaction, if such finance provider agrees to keep the terms of this Agreement confidential, (b) to enforce its rights under this Agreement in a proceeding in accordance with Section 10.2, (c) to any
legal or financial advisor of such party, or (d) to current/prospective investors provided such investors are subject to a confidentiality agreement that is consistent with the terms of Section 6.2 regarding protection of Confidential
Information of the other party. 
 6.2 Confidentiality. (a) Confidential Information of each party will be used by the other party solely for
the purposes permitted by this Agreement. All Confidential Information of a disclosing party will be received and held in confidence by the receiving party, subject to the provisions of this Agreement. Each party acknowledges that, except for the
rights expressly granted under this Agreement, it will not obtain any rights of any sort in or to the Confidential Information of the other party as a result of such disclosure and that any such rights must be the subject of separate written
agreement(s). 
 (b) Each party will restrict disclosure of the other party’s Confidential Information to those of its employees and
consultants to whom it is necessary or useful to disclose such Confidential Information in connection with the purposes permitted under this Agreement. Each party shall use reasonable efforts, including at least efforts commensurate with those
employed by the party for the protection of its own Confidential Information, to protect the Confidential Information of the other party. 

(c) Nothing herein shall prevent a receiving party from disclosing all or part of the Confidential Information of the other party in response
to a court order or other legal proceeding requesting disclosure of same; provided, the party that receives such order or process provides prompt notice to the disclosing party before making any disclosure (to the extent possible) and permits
the disclosing party to oppose or narrow such request for disclosure and supports any of the disclosing party’s reasonable efforts to oppose such request (at disclosing party’s expense), and only to the extent necessary to comply with such
request. Disclosure of Confidential Information pursuant to this Section 6.2(c) will not alter the character of that information as Confidential Information hereunder. 

(d) Either disclosing party may at any time notify the receiving party that such receiving party must return to the disclosing party the
disclosing party’s Confidential Information. Each receiving party hereby agrees to, within thirty (30) days of such notification: (i) return all documents and tangible items it or its employees or agents have received or created
pursuant to this Agreement pertaining, referring or relating to the other party’s Confidential Information; and (ii) return or certify (in a writing attested to by a duly authorized officer of such party) destruction of all copies,
summaries, modifications or adaptations that such party or its employees or agents have made from the materials provided by the disclosing party; provided, however, that a party is permitted to retain one copy of such materials in its legal files to
be used to verify compliance with its obligations hereunder. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 7. REPRESENTATIONS AND WARRANTIES. 

7.1 Authorization; Enforceability. Each of ViewRay and MSC represents and warrants to the other party that: (a) it is duly organized and validly
existing under the laws of its jurisdiction of organization and has all requisite power and authority to enter into this Agreement; (b) it is duly authorized by all requisite action to execute, deliver and perform this Agreement and to
consummate the transactions contemplated hereby, and that the same do not conflict or cause a default with respect to such party’s obligations under any other agreement; (c) it has duly executed and delivered this Agreement; and
(d) it is authorized to disclose any and all Confidential Information made available to the other party pursuant to this Agreement. 
 7.2
Products. (a) MSC warrants to ViewRay that all Products supplied to ViewRay pursuant to Section 3 shall: (i) for a period of twelve (12) months from the date of acceptance by the ViewRay customer but not more than eighteen
(18) months from the date of shipment by MSC to ViewRay, whichever is longer, conform to its then current published specifications and documentation and the Specifications (provided that in the event of a conflict between the Specifications and
the published specifications or documentation, the terms of the Specifications will control), and (ii) be manufactured, labeled, packaged, stored and tested (while in the possession or control of MSC) in accordance with the Specifications
current as of the date of manufacture and the applicable laws and regulations in relation to the manufacture and testing of the Product (including all Applicable Standards). This warranty does not apply to any non-conformity of the Products
resulting from misuse, mishandling or storage in an improper environment in each case by any party other than MSC or its agents. 
 (b) MSC
warrants to ViewRay that all Products shall be delivered free and clear of all liens and encumbrances. 
 7.3 Remedy. In the event any Products
purchased by ViewRay from MSC fail to conform to the warranty set forth in Section 7.2, MSC shall, at MSC’s option, repair or replace the Products. ViewRay shall notify MSC of any such nonconformity and return the applicable Products in
accordance with Section 3.9. It is understood and agreed that the remedy set forth in this Section 7.3 shall not limit either party’s other remedies at law or equity, including a remedies with respect to third party claims arising
pursuant to Sections 8.2-8.3. 
 7.4 Disclaimer. (a) EXCEPT FOR THE WARRANTIES EXPRESSLY MADE IN SECTIONS 7.1-7.2, NEITHER PARTY MAKES ANY OTHER REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED (WHETHER WRITTEN OR ORAL), INCLUDING, WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY OR ANY WARRANTY OF
FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO ANY MATTER WHATSOEVER, INCLUDING BUT NOT LIMITED TO, THE PRODUCTS. 
 (b) THE
REPRESENTATIONS AND WARRANTIES OF EACH OF MSC AND VIEWRAY EXTEND ONLY TO THE OTHER PARTY. NEITHER PARTY WILL BE LIABLE FOR ANY CLAIM OR DEMAND AGAINST SUCH OTHER PARTY BY A THIRD PARTY, EXCEPT TO THE EXTENT PROVIDED IN
SECTIONS 8.2-8.3. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 8. RISK ALLOCATION 

8.1 Limitation of Liability. EXCEPT FOR BREACH OF CONFIDENTIALITY OBLIGATIONS UNDER SECTION 6 AND EXCEPT AS OTHERWISE PROVIDED IN SECTIONS 8.2-8.3 WITH RESPECT TO THIRD PARTY CLAIMS, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY LOST PROFITS OR SAVINGS OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR
EXEMPLARY DAMAGES IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY, REGARDLESS OF WHETHER THE PARTIES HAVE ADVISED OR BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH LOSS
OR DAMAGE. 
 8.2 Indemnification of View Ray. Subject to the provisions of Section 8.4, MSC will defend, indemnify, and hold harmless ViewRay
and its Affiliates, officers, directors, employees, agents, and their successors and assigns (each, in such capacity, an “ViewRay Indemnified Party”) from and against any claim, suit, demand, loss, damage, expense (including
reasonable attorneys’ fees of ViewRay Indemnified Party(ies) and those that may be asserted by a third party) or liability (collectively, “Losses”) arising from any third party claim or proceeding against the ViewRay
Indemnified Party(ies) by any third party to the extent that such claim or proceeding is based on: (a) a third party assertion that the Products infringe any third party Intellectual Property Rights; or (b) a third party allegation of
product liability or personal injury arising from or relating to a manufacturing defect of the Products. The foregoing indemnification action shall not apply in the event and to the extent that such Losses arose as a result of any ViewRay
Indemnified Party’s negligence, intentional misconduct or breach of this Agreement. 
 8.3 Indemnification of MSC. Subject to the provisions of
Section 8.4, ViewRay will defend, indemnify, and hold harmless MSC and its Affiliates, officers, directors, employees, agents, and their successors and assigns (each, in such capacity, an “MSC Indemnified Party”) from
and against any Losses arising from any third party claim or proceeding against the MSC Indemnified Party(ies) by any third party to the extent that such claim or proceeding is based on: (a) any third party allegation of infringement of third
party Intellectual Property Rights, where such claim is based upon the combination, operation or use of the Products with non-MSC technology and products in a manner not explicitly contemplated by this Agreement, if such claim of infringement would
have been avoided but for such combination, operation or use; or (b) any third party allegation of product liability or personal injury arising from or relating to the ViewRay products or services (other than due to the failure of a Product due
to nonconformance to the then current Specifications as manufactured by MSC, including MSC subcontractor/suppliers). The foregoing indemnification action shall not apply in the event and to the extent that such Losses arose as a result of any MSC
Indemnified Party’s negligence, intentional misconduct or breach of this Agreement. 
 8.4 Procedure. To receive the benefit of indemnification
under Section 8.2 or Section 8.3, the ViewRay Indemnified Party or MSC Indemnified Party, as applicable, must: (a) promptly notify the party from whom indemnification is sought (each, an “Indemnifying Party”)
of any claim or proceeding; provided, that failure to give such notice shall not relieve Indemnifying Party of its indemnification obligations except where, and solely to the extent that, such failure actually and 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
materially prejudices the rights of Indemnifying Party; (b) provide reasonable cooperation to the Indemnifying Party (and its insurer), as reasonably requested, at indemnifying Party’s
cost and expense; and (c) tender to the Indemnifying Party (and its insurer) full authority to defend or settle the claim or suit; provided that no settlement requiring any admission by the Indemnified Party or that imposes any
obligation on the Indemnified Party shall be made without the Indemnified Party’s consent. Neither party has any obligation to indemnify the other party in connection with any settlement made without the Indemnifying Party’s written
consent. The Indemnified Party has the right to participate at its own expense in the claim or suit and in selecting counsel therefore. 
 8.5
Insurance. Each party shall procure and maintain insurance, including product liability insurance, adequate to cover its obligations hereunder and which are consistent with normal business practices of prudent companies similarly situated. It is
understood that such insurance shall not be construed to create a limit of either party’s liability with respect to its indemnification obligations under this Section 8. Each party shall cause the other to be listed as an additional named
insured on such policy(ies) and shall provide the other with written evidence of such insurance upon request. Each party shall provide the other with written notice at least fifteen (15) days prior to the cancellation, non-renewal or material
change in such insurance or self-insurance which materially adversely affects the rights of the other party hereunder. If such party does not obtain replacement insurance or take other measures that allow it to provide comparable coverage within
such 15-day period, the other party shall have the right to terminate this Agreement effective at the end of such fifteen (15) day period without notice or any additional waiting periods. 

9. TERM AND TERMINATION 
 9.1 Term. This Agreement
shall take effect as of the Effective Date and shall remain in effect until the |fifth| anniversary of the Effective Date (the “Term”), unless sooner terminated in accordance with Section 2.5 or
Section 9.2. Thereafter, this Agreement will renew automatically for additional one-year terms unless either party provides the other party with written notice at least [twelve (12)] months in advance of the scheduled renewal date. 

9.2 Termination. (a) During the term of the Program, either party may terminate the Program and this Agreement upon thirty (30) days written
notice to the other party if the other party commits a material breach of this Agreement, unless such breach is cured within the thirty (30) day notice period, or if such breach is not capable of being cured within thirty (30) days unless
such party during such thirty (30) day period initiates actions reasonably expected to cure the breach and thereafter diligently proceeds to cure the breach. Except for termination by MSC based upon non-payment by ViewRay of amounts due under
this Agreement, termination of the Program pursuant to this Section 9.2(a) shall not result in termination of this Agreement except as otherwise provided in Section 9.2(c). The parties may also terminate the Program at any time in
accordance with the procedure specified in Section 2.5. 
 (b) Following completion of the Program and, with respect to matters not
directly related to the Program at any time during or following completion of the Program, either party may terminate this Agreement upon sixty (60) days written notice to the other party if the other party commits a material breach of this
Agreement (other than non-payment), unless such breach is cured within the sixty (60) day notice period, or if such breach is not capable of being cured within sixty (60) days unless such party during such sixty (60) day period
initiates actions reasonably expected to cure the breach and thereafter diligently proceeds to cure the breach. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (c) The parties may parties may terminate this Agreement at any time by mutual agreement. ViewRay
may also terminate this Agreement in accordance with Section 3.11(a). 
 (d) The disadvantaged party (as defined in Section 10.14)
shall have the right to terminate this Agreement upon thirty (30) days notice if a Force Majeure condition has prevented performance by the other party for more than sixty (60) consecutive days or an aggregate one hundred twenty
(120) days in any 12-month period. 
 9.3 Effect of Termination. (a) Upon termination of the
Program pursuant to Section 9.2(a): (i) MSC will terminate all Program tasks then in process in art orderly manner, as soon as practical and in accordance with a schedule agreed to by ViewRay and MSC; (ii) MSC shall deliver to ViewRay
a reasonably-detailed written report describing the results of the Program up to the date of such termination; and (iii) ViewRay shall pay MSC any monies due and owing MSC as of the time of termination for work that has been actually performed
and, if such termination is made by MSC for cause under Section 9.2(a), ViewRay shall also pay MSC for all work-in process an amount calculated using MSC’s then-current daily charge for similar
services and Deliverables, provided, such fee shall not exceed the price specified for the applicable Deliverable in Attachment 1 against delivery of such work product by MSC. 

(b) Upon any termination (including expiration) of this Agreement each party shall return to the other party or certify in writing to the
other party that it has destroyed all documents and other tangible items it or its employees or agents have received or created pertaining, referring or relating to the Confidential Information of the other party; provided, that a party is
permitted to retain one copy of such materials in its legal files to be used to verify compliance with its obligations hereunder. 
 (c)
Upon termination or expiration of this Agreement for any reason, ViewRay will have the right to continue to sell all unsold Products that are in its possession or that are subject to an open ViewRay Purchase Order as of the effective date of such
termination or expiration. In addition, MSC will continue to supply ViewRay with Products for a period of twelve months after expiration or termination of this Agreement for any reason to wind-down the supply of Products for ViewRay from MSC,
provided that if termination was effected by MSC as a result of ViewRay’s material breach of this Agreement then (i) ViewRay will promptly pay all sums due MSC under this Agreement as of the date of termination that are not disputed
in good faith in accordance with the procedure described in Section 10.2; and (ii) MSC may require that ViewRay place orders for Products (if any) ordered pursuant to this Section 9.3(c) on a C.O.D. basis. The supply of Products by
MSC pursuant to this Section 9.3(c) shall be subject to the provisions of 4-9 excluding Section 4.3(b) and Section 4.4. 

(d) Nothing herein shall be construed to release either party of any obligation which matured prior to the effective date of any termination,
including the obligation of ViewRay to purchase all Products that are the subject of a binding Forecast as of the effective date of termination. Either party’s liability for any uncontested charges, payments or expenses due to the other party
that accrued prior to the termination date shall not be extinguished by termination, and such amounts (if not otherwise due on an earlier date) shall be immediately due and payable on the termination date. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 9.4 Survival. Sections 1, 2.1, 5-8, 9.3 (and the Sections of
this Agreement referenced therein), 9.4 and 10 shall survive any termination or expiration of this Agreement. Section 2.2 shall survive any termination or expiration of this Agreement; provided that Section 2.2 shall not survive
termination of this Agreement by ViewRay pursuant to Section 9.1 or termination of the Program by the parties pursuant to Section 9.2(b). 

10. GENERAL PROVISIONS. 
 10.1 Governing Law. This
Agreement shall be governed and construed in accordance with the internal, substantive laws of New York, to the exclusion of any choice or conflict of laws rule or provision that would result in the application of the substantive law of any other
jurisdiction. The United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement or the transactions contemplated by this Agreement. 

10.2 Dispute Resolution. (a) The parties will attempt to settle any claim or controversy arising out of this Agreement or the subject matter
hereof through consultation and negotiation in good faith in a spirit of mutual cooperation. Such matters will be initially addressed by the Manager of Hardware Development of ViewRay and the Director of Manufacturing and Engineering of MSC, who
shall use reasonable efforts to attempt to resolve the dispute through good faith negotiations by telephone or in person as may be agreed. In addition, all disputes brought by ViewRay will also be copied to the MSC Manager of Contracts. If they fail
to resolve the dispute within thirty (30) days after either party notifies the other of the dispute, then the matter will be escalated to the Senior Vice President of Engineering of ViewRay and the President and General Manager of MSC, or their
designees for resolution. They will use reasonable efforts to attempt to resolve the dispute through good faith negotiations by telephone or in person as may be agreed. If they fail to resolve the dispute within thirty (30) days after it is
referred to them and do not mutually agree to extend the time for negotiation, then the dispute will be submitted to arbitration in accordance with the procedure set forth in Section 10.2(b). 

(b) Except with respect to actions by either party seeking equitable or declaratory relief, any claim or controversy arising in whole or in
part under or in connection with this Agreement or the subject matter hereof that is not resolved pursuant to Section 10.2(a) will be referred to and finally resolved by arbitration in accordance with the Commercial Arbitration Rules (the
“Rules”) of the American Arbitration Association as such Rules may be modified by this Agreement, by one arbitrator, who will be agreed upon by the parties. If the parties are unable to agree upon a single arbitrator within
thirty (30) days following the date arbitration is demanded, three arbitrators will be used, one selected by each party within ten (10) days after the conclusion of the 30-day period and a third
selected by the first two within 10 days thereafter. Unless the parties agree otherwise, they will be limited in their discovery to directly relevant documents. Responses or objections to a document request will be served twenty (20) days
after receipt of the request. The arbitrator(s) will resolve any discovery disputes. The foregoing arbitration proceedings may be commenced by either party by notice to the other party. Unless otherwise agreed by the parties, all such arbitration
proceedings will be held in Cleveland, Ohio or at alternative location if mutually agreed, provided that proceedings may be conducted by telephone conference call with the consent of the arbitrator. All arbitration proceedings will be

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
conducted in the English language and the arbitrator(s) will apply the law of Delaware. The arbitrator(s) will only have the authority to award actual money damages (with interest on unpaid
amounts from the date due) and, except with respect to a breach or nonperformance of any provision of this Agreement relating to Confidential Information, the arbitrator(s) will not have the authority to award indirect, incidental, consequential,
exemplary, special or punitive damages, and the parties expressly waive any claimed right to such damages. The arbitration will be of each party’s individual claims only, and no claim of any other party will be subject to arbitration in such
proceeding. The costs and expenses of the arbitration, but not the costs and expenses of the parties, will be shared equally by the parties. If a party fails to proceed with arbitration, unsuccessfully challenges the arbitration award, or fails to
comply with the arbitration award, the other party is entitled to costs, including reasonable attorneys’ fees, for having to compel arbitration or defend or enforce the award. Except as otherwise required by law, the parties and the
arbitrator(s) will maintain as confidential all information or documents obtained during the arbitration process, including the resolution of the dispute. Judgment on the award granted in any arbitration hereunder may be entered in any court having
jurisdiction over the award or any of the parties or any of their respective assets. The provisions of this Section 10.2(b) will not apply to any claim or controversy involving infringement or misappropriation of any Intellectual Property Right
of either party, in which case the claim or controversy may be brought in a state or federal court having jurisdiction over the matter. The parties knowingly and voluntarily waive their rights to have their dispute tried and adjudicated by a judge
and jury except as expressly provided herein. 
 10.3 Amendment and Waiver. No provision of or right under this Agreement shall be deemed to have
been waived by any act or acquiescence on the part of either party, its agents or employees, but only by an instrument in writing signed by an authorized officer of each party. No waiver by either party of any breach of this Agreement by the other
party shall be effective as to any other breach, whether of the same or any other term or condition and whether occurring before or after the date of such waiver. 

10.4 Independent Contractors. Each party represents that it is acting on its own behalf as an independent contractor and is not acting as an agent for
or on behalf of any third party. This Agreement and the relations hereby established by and between ViewRay and MSC do not constitute a partnership, joint venture, franchise, agency or contract of employment. Neither party is granted, and neither
party shall exercise, the right or authority to assume or create any obligation or responsibility on behalf of or in the name of the other party or its Affiliates. Each party shall be solely responsible for compensating all its personnel and for
payment of all related FICA, workers’ compensation, unemployment and withholding taxes. Neither party shall provide the other party’s personnel with any benefits, including but not limited to compensation for insurance premiums, paid sick
leave or retirement benefits. 
 10.5 Assignment. Neither party may assign this Agreement or any of its rights and obligations under this Agreement
without the prior written consent of the other party; provided, that either party may assign this Agreement without the consent of the other party to an Affiliate or in connection with any merger, acquisition, or sale a majority of such
party’s voting stock or a sale of substantially all such party’s assets; provided, further, that in each instance the assignee expressly assumes all obligations imposed on the assigning party by this Agreement in writing and
the other party is notified in advance of such assignment. Any purported assignment in violation of this Section 10.5 shall be null and void. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 10.6 Successors and Assigns. This Agreement shall bind and inure to the benefit of the parties hereto and
their respective successors and permitted assigns. 
 10.7 Notices. Unless otherwise provided herein, any notice, report, payment or document to be
given by one party to the other shall be in writing and shall be deemed given when delivered personally or mailed by certified or registered mail, postage prepaid (such mailed notice to be effective on the date which is three (3) Business Days
after the date of mailing), or sent by nationally recognized overnight courier (such notice sent by courier to be effective one (1) Business Day after it is deposited with such courier), or sent by telefax (such notice sent by telefax to be
effective when sent, if confirmed by certified or registered mail or overnight courier as aforesaid) to the address set forth on the signature page to this Agreement or to such other place as any party may designate as to itself by written notice to
the other party. 
 10.8 Severability. In the event any provision of this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other term or provision hereof. The parties agree that they will negotiate in good faith or will permit a court to replace any provision hereof so
held invalid, illegal or unenforceable with a valid provision which is as similar as possible in substance to the invalid, illegal or unenforceable provision. 

10.9 Captions. Captions of the sections and subsections of this Agreement are for reference purposes only and do not constitute terms or conditions of
this Agreement and shall not limit or affect the meaning or construction of the terms and conditions hereof. 
 10.10 Word Meanings. Words such as
herein, hereinafter, hereof and hereunder refer to this Agreement as a whole and not merely to a section or paragraph in which such words appear, unless the context otherwise requires. The singular shall include the
plural, and each masculine, feminine and neuter reference shall include and refer also to the others, unless the context otherwise requires. 
 10.11
Entire Agreement. The terms and provisions contained in this Agreement (including the Attachments) constitute the entire understanding of the parties with respect to the transactions and matters contemplated hereby and supersede all previous
communications, representations, agreements and understandings relating to the subject matter hereof. No representations, inducements, promises or agreements, whether oral or otherwise, between the parties not contained in this Agreement shall be of
any force or effect. No agreement or understanding extending this Agreement or varying its terms (including any inconsistent terms in any purchase order, acknowledgment or similar form) shall be binding upon either party unless it is in a writing
specifically referring to this Agreement and signed by a duly authorized representative of the applicable party. 
 10.12 Rules of Construction. The
parties agree that they have participated equally in the formation of this Agreement and that the language and terms of this Agreement shall not be construed against either party by reason of the extent to which such party or its professional
advisors participated in the preparation of this Agreement. 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 10.13 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. Facsimile signatures shall be accepted as original signatures, orders may be transmitted electronically and any document created pursuant to this Agreement may be
maintained in an electronic document storage and retrieval system, a copy of which shall be considered an original. 
 10.14 Force Majeure. Except as
otherwise provided in this Agreement, in the event that a delay or failure of a party to comply with any obligation created by this Agreement is caused by acts of God, wars (declared or undeclared and including the continuance, expansion or new
outbreak of any war or conflict now in existence), revolution, civil commotion, acts of public enemy, labor strikes (other than employees of the affected party), terrorism, embargo or acts of government in its sovereign capacity (“Force
Majeure”), the “affected party” will, after giving prompt notice to the “disadvantaged party,” be excused from such performance on a day-to-day basis during the continuance of such prevention, restriction, or
interference (and the disadvantaged party will likewise be excused from performance of its obligations on a day-to-day basis during the same period), provided, however, that the affected party will use its best efforts to avoid or remove the causes
of nonperformance and both parties will proceed immediately with the performance of their obligations under this Agreement whenever the causes are removed or cease. If Force Majeure conditions continue for more than 60 consecutive days or an
aggregate 120 days in any 12-month period, then the disadvantaged party may terminate this Agreement in accordance with Section 9.2(d). 

10.15 Further Assurances. Each party covenants and agrees that, subsequent to the execution and delivery of this Agreement and without any additional
consideration, it will execute and deliver any further legal instruments and perform any acts which are or may become reasonably necessary to effectuate the purposes of this Agreement. 

IN WITNESS WHEREOF the parties have caused this Agreement to be executed on their behalf by their duly authorized representatives intending it to take effect
as an instrument under seal as of the Effective Date. 
  

									
	MANUFACTURING SCIENCES CORPORATION	 		 	VIEWRAY INCORPORATED
					
	By:	 	 /s/ Brian C. Wood
	 		 	By:	 	 /s/ Greg Ayers

		 	Brian C. Wood, President and General Manager	 		 		 	Greg Ayers, Acting Chief Executive Officer
			
	 Notice Address:

Manufacturing Sciences Corporation
 804 South Illinois Avenue

Oak Ridge, TN 37830
	 		 	 Notice Address:
 ViewRay
Incorporated
 #2 Thermo Fisher Way
 Oakwood
Village, OH 44146

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	Attachment 1	Specifications; Program 

	Attachment 2	Pricing; Phases 1 and 2 

	Attachment 3a	Certain MSC Intellectual Property 

	Attachment 3b	Certain ViewRay Intellectual Property 

	Attachment 3c	Program Intellectual Property 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Attachment 1 

Specifications; Program 
 MSC
Services: 
 ViewRay requires the development of a Product as specified in ViewRay Requirements Document
No.                  (copy attached) which provides the detailed Specifications for each of the Deliverables. The development is divided into [***] phases as
follows (each, a “Phase”). [***]. 
  

					
	 Phase        
	    	 Scope and Activities
	  	 Deliverables

	 [***]
	    	•        [***]	  	•        [***]

 Schedule: 
 It is
understood that an accelerated schedule is of great importance to ViewRay. With this in mind, the following schedule is planned for completion of each Phase of the Program: [***]. 

Pricing: See Attachment 2 for Phases 1 and 2. 

ViewRay’s responsibilities: 
 The following
shall be ViewRay’s responsibilities. 
             o    [***] 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Attachment 2 

Program Pricing. ViewRay will pay to MSC a fixed sum of $[***] in consideration for MSC’s performance of the Program [***] and the delivery of the
Deliverables detailed in Attachment 1. Payment of such amount shall be made in installments against the following milestones, including where applicable the delivery and the Acceptance of Deliverables by ViewRay. Payment is
due in accordance with Section 2.7 except as otherwise provided below: 
  

					
	 Program Phase
	    	 Event; Deliverable
	  	 Program Payment

			
	 [***]
	    	[***]	  	[***]
			
	 Total
	    		  	$[***]

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Attachment 3a 

Existing MSC Intellectual Property applicable to radiation source shield 

[TBS] 
 [NTD: MSC TO
PROVIDE ANY PATENTS OR OTHER IP THEY NEED TO PROTECT UNDER THIS
AGREEMENT SECTION]] 
 Attachment 3b 

[Existing ViewRay Intellectual Property applicable to radiation source shield 

 

	1.	The specific designs and calculations supplied by ViewRay.] 

 Attachment 3c

 [Program Intellectual Property 

[TBS IN ACCORDANCE WITH SECTION 5.3] 

  
 [***] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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