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Exclusive Patent License Agreement

 Exhibit 10.2 
 UNIVERSITY OF MINNESOTA 
 EXCLUSIVE PATENT LICENSE AGREEMENT 

THIS EXCLUSIVE PATENT LICENSE AGREEMENT (the “Agreement”) is made by and between Regents of the University of Minnesota,
a constitutional corporation under the laws of the state of Minnesota, having a place of business at 1000 Westgate Drive, Suite 160, St. Paul, Minnesota 55114 (the “University”), and the Licensee indentified below. 

Purpose 

The University owns the right to license to others certain rights to the Licensed Patent(s), as that term is defined and used in this
Agreement. The Licensee desires that the University grant it a license to use, develop, and commercialize the intentions claimed in the Licensed Patents. The University is willing to grant such a license on the terms set forth below. 

NOW, THEREFORE, the parties agree that: 
 The Terms and Conditions of Exclusive Patent License attached hereto as Exhibit A are incorporated herein by reference in their entirety (the “Terms and Conditions”). In the event of a conflict
between provisions of this Agreement and the Terms and Conditions, the provisions in this Agreement shall govern. Capitalized terms used in this Agreement without definition shall have the meanings given to them in the Terms and Conditions.

 The section numbers used in the parentheses below correspond to the section numbers in the Terms and Conditions. 

1. Licensee (1.8). Synageva BioPharma, a corporation under the laws of the state of Delaware having its principal place of business at 60 Hickory
Drive, Waltham, MA 02451 and its Affiliates. 
 2. Field(s) of Use (1.3). The field(s) of Use is(are). production of recombinant virus
for use in the introduction of nucleotide sequences into [***] including [***] provided that the Field of Use expressly excludes the creation or production of vaccines directly from the virus produced using the Licensed Technology. For purposes of
clarification, protein production in [***] produced using the Licensed Technology, including but not limited to [***] shall fall within the Field of Use. 
 3. Territory (1.16). The territory is any country where a Licensed Patent or Patent Application is active and enforceable and, but for the granting of the rights set forth in the Agreement,
Licensee would infringe (including under the doctrine of equivalents) one or more claims of the Licensed Patent or be encompassed by one or more claims of a Patent Application. 
 4. Effective Date (2). The effective date is the date of the last signature below. 
 5.
Patents and/or Patent Applications. 
 5.1 Licensed Patents(s) (1.5). 

 

					
	 [***]
	 	 =
	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

							
	 Patent No.
	  	 Country
	  	 Issue Date
	  	 Title

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

 5.2 Patent Applications (1.9). 

 

							
	 Application No.
	  	 Country
	  	 Filing Date
	  	 Title

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

 Licensed Patents and Patent Applications also include all patents and patent applications worldwide
related to one or more of the Licensed Patents shown in 5.1 and all patents and patent applications worldwide which are related to one or more of the Patent Applications shown in 5.2. 
 6. Patent-Related Expenses (1.10). Select one of the following: 
  ̈ The Licensee has no obligation under the Agreement to reimburse the University for Patent-Related Expenses except as provided for in section 4.2.4 of the Terms and Conditions. 

7. Sublicense Rights (3.1.2). Select one of the following: 
 Yes 
 No 
 8. Federal Government Rights. Select one of the following: 
 Yes 

No 
  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

 9. Performance Milestones (5.1). Performance Milestones are not applicable. 

10. Commercialization Reports (5.4). Commercialization Reports are due annually beginning on the first anniversary of the Effective Date.

 11. Payments (6.1). All amounts are non-refundable, and payable as defined below or as specified in the University’s invoice.

 11.1 Upfront Payment. An Upfront Payment in the amount of [***] is payable as follows: [***] due on the Effective Date of
this Agreement and [***] due on or before May 31, 2009. 
 11.2 Annual Maintenance Fee. [***] 

11.3 This section intentionally left blank. 
 11.4 Running Royalty and Minimums. In each Territory (1.16), the Licensee shall pay as a running royalty [***] of Net Sales Price defined in Section 1.4 of the terms and conditions of Licensed
Products commencing upon the first commercial sale of the Licensed Product. Should the Licensee be required to in-license, on a royalty bearing basis, certain technology(ies) from a third party to create a Licensed Product, the running royalty rate
shall be credited by such third party payment provided that such running royalty rate shall be reduced by no more the [***] on those Licensed Products. For the avoidance of doubt, Net Sales Price shall not include transfers or other dispositions of
Licensed Products for clinical studies. 
 11.4.1 The Licensee shall pay as a minimum of such royalty the following amount for
each year [***]. Such payment shall be credited against running royalty payments otherwise due under this Agreement. 
 11.5
Sublicense Fees. Within thirty (30) days after the last day of the calendar quarter, during the term of this Agreement and the Post-Termination Period, the Licensee shall pay to the University the following as earned by the Licensee during such
quarter: 
 11.5.1 [***] (1.15). 
 11.5.2 [***] (1.14). 
 11.6 Financial Milestones. Financial Milestones are not
applicable. 
 11.7 This section intentionally left blank. 

11.8 This section intentionally left blank. 
 11.9 This section left intentionally blank. 
 11.10 Interest Rate (6.2). The
Interest Rate will be [***]. 11.11 Other. None. 
  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

 12. Licensee’s Address for Notice (23). Notices will be sent to the Licensee at: 

 

					
	 	 	Synageva BioPharma Corp.	 	 
		 	60 Hickory Drive	 	
		 	Waltham, MA 02451	 	
		 	Attn: Sanj K. Patel, President and CEO	 	
			
		 	Facsimile No.: 781-890-1114	 	
		 	Email:	 	

 13. Licensee expressly warrants and represents and does hereby state and represent that no promise or agreement which is
not herein expressed has been made to Licensee in executing this Agreement except those explicitly set forth herein and in the Terms and Conditions, and that Licensee is not relying upon any statement or representation of the University or their
representatives. 
 14. Licensee is relying on Licensee’s own judgment and has been represented by legal counsel. Said legal counsel has
read and explained to Licensee the entire contents of this Agreement and the Terms and Conditions incorporated by reference herein. Licensee hereby warrants and represents that the Licensee understands and agrees to all the provisions in this
Agreement and said Terms and Conditions. 
 15. University represents and warrants that the License Agreement between University and Wyeth
covering exclusive use of the Licensed Technology and Licensed Patents has been terminated and is of no further force or effect. 
 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute this Agreement. 
  

					
	Regents of the University of Minnesota	 	Synageva BioPharma
		
	By	 	By:
		 	Name: Sanj K. Patel
		 	Title: President and Chief Executive Officer
			
	Office for Technology Commercialization	 		 	Synageva BioPharma Corp.
	Date:	 	Date:	 	

 UNIVERSITY OF MINNESOTA 

EXHIBIT A 

Terms and Conditions 
 Exclusive Patent License Agreement 
 These terms and conditions to the
Exclusive Patent License Agreement (“Terms and Conditions”) govern the grant of license by Regents of the University of Minnesota (“University”) to the Licensee identified in the Exclusive Patent License Agreement (the
“EPLA”). These Terms and Conditions are incorporated by reference into the EPLA. All section references in these Terms and Conditions refer to provisions in these Terms and Conditions unless explicitly stated otherwise. 

1. Definitions. For purposes of interpreting the Agreement, the following terms have the following meanings: 

1.0 “Affiliate” means an entity of the Licensee or sublicensee that is controlled by the Licensee or sublicensee, or along with
the Licensee or sublicensee, is under the common control of a third party. An entity shall be deemed to have control of the controlled entity if it (i) owns, directly or indirectly, fifty percent (50%) or more of the outstanding voting
securities of the controlled entity, or (ii) has the right, power or authority, directly or indirectly, to direct or cause the direction of the policy decisions of the controlled entity, whether by ownership of securities, by representation on
the controlled entity’s governing body, by contract, or otherwise. 
 1.1 “Agreement” means collectively these
Terms and Conditions and the EPLA. 
 1.2 “EPLA” means the attached Exclusive Patent License Agreement. 

1.3 “Field of Use” means the field(s) of use described in section 2 of the EPLA. 

1.4 “Net Sales Price” means the gross amount invoiced by Licensee for sales, leases, and other dispositions of Licensed
Products to third parties minus (i) all trade, quantity, and cash discounts actually allowed, (ii) all credits and allowances actually granted due to rejections, returns, billing errors, and retroactive price reductions, (iii) shipping, handling,
freight, customs duties, consular fees and other like charges (iv) excise, sale and use taxes, and (v) actual uncollectable accounts receivable. If the Licensee or a sublicensee, as the case may be, sells, leases, or disposes of a Licensed Product
to an Affiliate, the “Net Sales Price” for that transaction will be equal to the price the Licensee or the sublicensee, as the case may be, charges non-Affiliate third parties for the Licensed Product minus (i) all trade, quantity, and
cash discounts actually allowed, (ii) all credits and allowances actually granted due to rejections, returns, billing errors, and retroactive price reductions, (iii) shipping, handling, freight, customs duties, consular fees and other like charges
(iv) excise, sale and use taxes, and (v) actual uncollectable accounts receivable, or if the Licensee or the sublicensee does not offer to sell the Licensed Product to a third party, the price charged by the Licensee or the sublicensee for a product
of similar kind, quality, and quantity minus (i) all trade, quantity, and cash discounts actually allowed, (ii) all credits and allowances actually granted due to rejections, returns, billing errors, and retroactive

 
price reductions, (iii) shipping, handling, freight, customs duties, consular fees and other like charges (iv) excise, sale and use taxes, and (v) actual uncollectable accounts
receivable. Notwithstanding the issuance of two or more Licensed Patents or the filing of Patent Applications, a single royalty payment is payable for each product, good, or service that constitutes a Licensed Product made, sold, or transferred for
value. In the event any Licensed Product is sold as a component of a combination of functional elements, Net Sales Price for purposes of determining royalty payments on such combination shall be calculated on a worldwide basis by multiplying the Net
Sales Price of such combination by the fraction A over A+B, in which “A” is the average invoice price of the Licensed Product portion of the combination when sold separately during the accounting period in which the sale was made, and
“B” is the average invoice price of the non-Licensed Product portion of the combination when sold separately during the accounting period. In the event no separate sale of either such above-designated Licensed Product or such
above-designated non-Licensed Product portion of the combination is made during the accounting period in which the sale of the combination was made, Net Sales Price shall be calculated by multiplying Net Sales of the combination by the fraction A/C
where A is the average invoice price of the Licensed Product when sold separately and C is the average invoice price of the combination product, such costs being arrived at using the standard accounting procedures of Licensee which will be in accord
with generally accepted accounting practices. If neither the Licensed Product nor the combination product is sold separately by Licensee, the Net Sales Price shall be calculated as above except that A shall be the total cost of tangible materials
and supplies used in the manufacture of the Licensed Product and C shall be the total cost of tangible materials and supplies used in the manufacture of the combination product. 

1.5 “Licensed Patent” means the patent(s) described in section 5 of the EPLA, including all foreign counterpart patents and
patent applications thereto; all reissues, reexaminations, renewals, extensions, divisionals, continuations, and continuations-in-part of the foregoing patents and patent applications; and any patents which issue on the foregoing along with any
active and enforceable patent(s) issued during the Term with respect to a Patent Application. 
 1.6 “Licensed
Product” means any product or good in the Field of Use that is made by, made for, sold, transferred, or otherwise disposed of by the Licensee or its sublicensees during the Term and the Post-termination Period and that, but for the granting of
the rights set forth in the Agreement, would infringe (including under the doctrine of equivalents) one or more claims in a Licensed Patent or Patent Application, or any product or good that is made using a process or machine that would infringe
(including under the doctrine of equivalents) one or more claims in a Licensed Patent or be encompassed by one or more claims of a Patent Application. “Licensed Product” also means any service provided by or for the Licensee or its
sublicensees that incorporates all or any portion of a product or good that would be a Licensed Product. Unless the parties otherwise agree in writing, the term Licensed Product refers only to products and goods manufactured, made, sold,
transferred, or otherwise disposed of during the Term. 
 1.7 “Licensed Technology” means collectively the inventions
claimed in each Licensed Patent and each Patent Application. 
 1.8 “Licensee” means the entity identified in section
1 of the EPLA. 

 1.9 “Patent Application” means the patent application(s) described in section 5 of
the EPLA. “Patent Application” also means any related applications including, continuations, continuations-in-part, and divisionals of a Patent Application. 
 1.10 “Patent-Related Expenses” means costs and expenses (including out-of-pocket attorneys’ fees, patent agent fees and governmental filing fees) that the University incurs in searching,
preparing, filing, prosecuting, and maintaining a Patent Application and Licensed Patent. 
 1.11 “Payment” means a
payment to be made by the Licensee to the University specified below in section 6.1 and described in section 11 of the EPLA. 

1.12 “Performance Milestone” means an act or event specified below in section 5.1 and described in section 9 of the EPLA.

 1.13 Post-termination Period” means the one hundred eighty (180) day period commencing on the date of termination
of the agreement. 
 1.14 “Sublicense Revenues” means all revenue earned by the Licensee in consideration of its
granting a third party a sublicense to any of its rights under the Agreement excluding Sublicense Royalties. Sublicense Revenues and Sublicense Royalties specifically shall not include (i) payments made by a sublicensee in consideration of
equity or debt securities of Licensee; (ii) payments made by a sublicensee to support research activities to be undertaken by Licensee; (iii) payments related to the funding or conduct of pilot studies; (iv) payments which are
performance-based milestones; (v) payments reflecting the license or sublicense of any intellectual property other than Licensed Patents, or (vi) reimbursement for patent or other expenses. 

1.15 “Sublicense Royalties” means a percentage of the royalties the Licensee receives from a sublicense, as indicated in
section 11 of the EPLA. 
 1.16 “Territory” means the geographical area described in section 3 of the EPLA. 1.17 This
section left intentionally blank. 
 2. Term. The term of the Agreement commences on the Effective Date as defined in section 4 of the
EPLA and, unless terminated earlier as provided below in section 8, expires on the date on which both no Licensed Patent containing a claim which Licensee would infringe, but for the rights set forth in the agreement, is active and enforceable in
the Territory and no Patent Application containing a claim which Licensee would infringe, but for the rights set forth in the agreement, is pending in the Territory (the “Term”). Notwithstanding the forgoing, at any time after the third
(31(1) anniversary after the Effective Date, the Licensee, without cause, may terminate this Agreement by providing a ninety (90) day notice of the Licensee’s intent to terminate this agreement to the University as provided for in
section 23. 
 3. Grant of License. 
 3.1 The Licensee’s Rights. 

 3.1.1 Subject to the terms and conditions of this Agreement, the University
hereby grants to the Licensee, and the Licensee hereby accepts, an exclusive license to make (including to have made on its behalf), use, have used, offer to sell or sell, have sold, offer to lease or lease, import, or otherwise offer to dispose or
dispose of Licensed Products in the Field of Use in the Territory. No provision of the Agreement is to be construed to grant the Licensee, by implication, estoppel or otherwise, any rights (other than the rights expressly granted it in the
Agreement) to the Licensed Technology, a Licensed Patent or Patent Application, or to any other University-owned technology, patent applications, or patents. 
 3.1.2 This subsection 3.1.2 applies only if the parties have marked “Yes” in section 7 of the EPLA. If “Yes” is not marked, the Licensee shall not, (and is not hereby granted the right
to) sublicense its rights under the Agreement If the parties have marked “Yes”, the Licensee may sublicense its rights only as follows: the Licensee shall deliver to the University a true, correct, and complete copy of the sublicense
agreement or other agreement under which the Licensee purports or intends to grant such sublicense rights at least thirty (30) days after the execution of such agreement. The Licensee shall not enter into such agreement if the terms of the
agreement are in breach with the terms of the Agreement, including without limitation, sections 5.2 - 5.6, 6.5, 8.3, 9.5, 10.3, and 11.3. Any sublicense attempted to be made or made in violation of this subsection is void and constitutes an event of
default under subsection 8.1.1 below. 
 3.2 The United States Government’s Rights. If the University indicated in section
8 of the EPLA that the United States federal government funded the development, in whole or in part, of the Licensed Technology, then, (i) the federal government may have certain rights in and to the Licensed Technology as those rights are
described in Chapter 18, Title 35 of the United States Code and accompanying regulations, including Part 401, Chapter 37 of the Code of Federal Regulations. (ii) the parties’ rights and obligations with respect to the Licensed Technology,
including the grant of license set forth above in subsection 3.1.1, are subject to the applicable terms of these laws and regulations. 
 3.3 The University’s Rights. The University retains an irrevocable, world-wide, royalty-free, non-exclusive, right to use the Licensed Technology solely for non-profit teaching,research and
educational purposes in the Field of Use. Further, the University shall be able to sublicense such right in the Field of Use to other non-profit teaching, research or educational institutions only for non-profit purposes so long as any inventor
named on a Licensed Patent or Patent Application is or has been employed by such institution. For the purpose of clarification, the University may use or grant licenses to the Licensed Technology in any way, including for profit research, in any
field of use other than the Field of Use as defined in this Agreement. 
 4. Applications and Patents. 

4.1 Pre-EPLA Patent Filings. The Licensee acknowledges that it has reviewed each Licensed Patent and each Patent Application and that it
has no basis to challenge or dispute the inventorship, validity, or enforceability of any of the claims made in a Licensed Patent or a Patent Application. The Licensee further represents that, (a) manufacture of any product or good

 
that infringes (including under the doctrine of equivalents) a claim in any Licensed Patent or Patent Application, or (b) any product or good that is made using a process or machine that
infringes (including under the doctrine of equivalents) a claim in a Licensed Patent or Patent Application by Licensee prior to the effective date is within the scope of this agreement. 

4.2 Patent Application Filings during the Term of the Agreement. 

4.2.1 The University, in consultation with the Licensee, shall determine in which countries patent application(s) will be
filed and prosecuted with respect to the Licensed Technology. The University shall retain counsel of its choice to file and prosecute such patent applications. The University shall inform the Licensee of the status of the prosecution of the patent
application in the Field of Use, including delivering to the Licensee pertinent notices, written and oral communications with governmental officials, and documents, and shall consult with the Licensee on the prosecution of the patent application.
The Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to the Licensed Technology. 
 4.2.2 The grant of license in section 3.1 and the definition of Territory in section 1.16 shall not extend to or include any country in which Licensee elects, in writing to the University, not to pay or
reimburse the payment of the cost, in whole or in part, to seek or maintain intellectual property protection. 

4.2.3 No provision of the Agreement limits, conditions, or otherwise affects the University’s right to prosecute a
patent application with respect to the Licensed Technology in any country. The University retains the sole and exclusive right to file or otherwise prosecute a patent application claiming priority to the Licensed Technology. 

4.2.4 From time to time as decisions regarding Licensed Patent and Patent Application, including foreign counterparts, are
required, the University shall inform the Licensee of requisite decisions regarding prosecution and maintenance of Licensed Patents and Patent Applications, in writing at least thirty (30) days prior to such required decision as provided for in
section 23. In the event the University notifies Licensee that it will not prosecute or maintain a Licensed Patent or Patent Application in a certain Territory, the Licensee, at its discretion, may elect to prosecute or maintain the Licensed Patent
or Patent Application in which case the Licensee shall reimburse the University for all Patent Related Expenses associated with pursuing or maintaining the Licensed Patent or Patent Application as provided for in section 6 of the EPLA. In the event
the University has granted a license to a third party or third parties to the Licensed Technology, Patent Related Expenses incurred by the Licensee, shall be reduced by the percentage represented by the number of licensees minus 1 divided by the
number of licensees multiplied times 100. No refunds, recalculations or the like shall be provided as the number of licensees to the Licensed Technology or Territory changes. For the avoidance of doubt, if the University notifies Licensee that the
University will not prosecute or maintain a Licensed Patent or Patent Application in a certain Territory and Licensee elects not to maintain or prosecute the Licensed Patent or Patent Application, Licensee will thereafter not be required to pay the
Running Royalty and Minimums in the Territory covered by the Licensed Patent or Patent Application. 

 4.3 Ownership of the Licensed Patents and Patent Applications. No provision of the Agreement
grants the Licensee any ownership rights, titles, or interests (except for the grant of license above in subsection 3.1.1) in the Licensed Patents or Patent Applications, notwithstanding the Licensee’s payment of all or any portion of the
patent prosecution, maintenance, and related costs. 
 5. Commercialization. 

5.1 Commercialization and Performance Milestones. The Licensee shall use its commercially reasonable efforts, consistent with sound and
reasonable business practices and judgment, to commercialize the Licensed Technology and to manufacture and offer to sell and sell Licensed Products as soon as practicable and to maximize sales thereof. The Licensee shall perform, or shall cause to
happen or be performed, as the case may be, all the performance milestones described in section 9 of the EPLA. Licensee shall be deemed to have satisfied its obligations under this Section if Licensee has an ongoing and active research program or
marketing program, as appropriate, directed toward production and use of one or more Licensed Products anywhere in the world. Any efforts of Licensee’s sublicensees or its Affiliates shall be considered efforts of Licensee for the purpose of
determining License’s compliance with this S ection. 
 5.2 Covenants Regarding the Manufacture of Licensed Products. The
Licensee hereby covenants and agrees that (i) the manufacture, use, sale, or transfer of Licensed Products shall comply with all applicable federal and state laws, including all federal export laws and regulations; and (ii) no Licensed
Product shall be defective in design or manufacture. The Licensee hereby further covenants and agrees that, pursuant to 35 United States Code Section 204, it shall make commercially reasonable efforts to cause each sublicensee, to substantially
manufacture in the United States of America all products embodying or produced through the use of an invention that is subject to the rights of the federal government of the United States of America. 

5.3 Export and Regulatory Compliance. The Licensee understands that the Arms Export Control Act (AECA), including its implementing
International Traffic In Arms Regulations (ITAR,) and the Export Administration Act (EAA), including its Export Administration Regulations (EAR), are some (but not all) of the laws and regulations that comprise the U.S. export laws and regulations.
Licensee further understands that the U.S. export laws and regulations include (but are not limited to): (i) ITAR and EAR product/service/data¬specific requirements; (ii) ITAR and EAR ultimate destination-specific requirements;
(iii) ITAR and EAR end user-specific requirements; (iv) Foreign Corrupt Practices Act; and (v) antiboycott laws and regulations. The Licensee shall comply with all then-current applicable export laws and regulations of the U.S.
Government (and other applicable U.S. laws and regulations) pertaining to the Licensed Products (including any associated products, items, articles, computer software, media, services, technical data, and other information). The Licensee certifies
that it shall not, directly or indirectly, export (including any deemed export), nor re-export (including any deemed re-export) the Licensed Products (including any associated products, items, articles, computer software, media, services, technical
data, and other information) in violation of U.S. export laws and regulations or other applicable U.S. laws and regulations. The Licensee shall include an appropriate provision in its agreements with its authorized sublicensees to assure that these
parties comply with all then-current applicable U.S. export laws and regulations and other applicable U.S. laws and regulations. 

 5.4 Commercialization Reports. Throughout the Term and during the Post termination Period,
and within thirty (30) days of the date specified in the schedule set forth in section 10 of the EPLA, the Licensee shall deliver to the University written reports of the Licensee’s and the sublicensees’ efforts and plans to
commercialize the Licensed Technology and to manufacture, offer to sell, or sell Licensed Products. 
 5.5 Use of the
University’s Name and Trademarks or the Names of University Faculty, Staff, or Students. No provision of the Agreement grants the Licensee or a sublicensee any right or license to use the name, logo, or any marks owned by or associated with the
University or the names, or identities of any member of the faculty, staff, or student body of the University. The Licensee shall not use and shall not permit a sublicensee to use any such logos, marks, names, or identities without the
University’s and, as the case may be, such member’s prior written approval. 
 5.6 Governmental Markings. 

5.6.1 The Licensee shall mark all Licensed Products, where feasible, with patent notice appropriate under Title 35, United
States Code. 
 5.6.2 The Licensee is responsible for obtaining all necessary governmental approvals for the
development, production, distribution, sale, and use of any Licensed Product, at the Licensee’s expense, including, without limitation, any safety studies. The Licensee is responsible for including with the Licensed Product any warning labels,
packaging and instructions as to the use and the quality control for any Licensed Product. 
 5.6.3 The Licensee
agrees to register the Agreement with any foreign governmental agency that requires such registration, and the Licensee shall pay all costs and legal fees in connection with such registration. The Licensee shall comply with all foreign laws
affecting the Agreement or the sale of Licensed Products. 
 6. Payments, Reimbursements, Reports, and Records. 

6.1 Payments. The Licensee shall pay all amounts due under the Agreement by check (payable to the “Regents of the University of
Minnesota and sent to the address specified below in section 23), wire transfer, or any other mutually agreed-upon method of payment. 
 6.2 Interest and Administration Fees. All amounts due under the Agreement shall bear interest as provided in section 11 of the EPLA on the entire unpaid balance computed from the due date until the amount
is paid. If it defaults under any provision of the Agreement, even if such default is cured as provided for in the Agreement, the Company shall pay the University an administration fee in each instance. 

6.2.1 Reimbursement of Patent-Related Expenses. The Licensee shall pay invoices for Patent-Related Expenses under the
Agreement within thirty (30) days of its receipt of the University’s invoice. With respect to each invoice, the University shall use 

 
reasonable efforts to specify the date on which the Patent-Related Expense was incurred and the purpose of the expense (including, as applicable, a summary of patent attorney services giving rise
to the expense); provided, however, the University is not required to disclose to the Licensee any information that is protected by the University’s attorney-client privilege. Patent-Related Expenses incurred as of the Effective Date are set
forth in section 6 of the EPLA. 
 6.3 Sales Reports. Following the first commercial sale of a Licensed Product, within sixty
(60) days after the last day of a calendar quarter during the Term and the Post-termination Period, the Licensee shall deliver to the University a written sales report in the form attached as Exhibit B, recounting the number and Net Sales Price
amount (expressed in U. S. dollars) of all sales, leases, or other dispositions of Licensed Products, whether made by the Licensee or a sublicensee, during such calendar quarter. The Licensee shall deliver such written report to the University even
if the Licensee is not required hereunder to pay to the University a payment for sales, leases, or other dispositions of Licensed Products during the calendar quarter. 
 6.4 Records Retention and Audit Rights. 
 6.4.1 Throughout the Term
and the Post-termination Period and for five (5) years thereafter, the Licensee, at its expense, shall keep and maintain and shall exercise its best efforts to cause each sublicensee and each non-affiliated third party that manufactures, sells,
leases, or otherwise disposes of Licensed Products on behalf of the Licensee to keep and maintain complete and accurate records of all sales, leases, and other dispositions of Licensed Products during the Term and the Post-termination Period and all
other records related to the Agreement. 
 6.4.2 In connection with an audit, the Licensee, upon written request,
shall deliver to the University and its representatives true, correct and complete copies of all documents and materials reasonably relevant to the Licensee’s and sublicensees’ performance of the Agreement, including, without limitation,
all sublicenses granted. 
 6.4.3 To determine the Licensee’s compliance with the terms of the Agreement,
the University, at its expense (except as set forth below in this subsection), may inspect and audit the Licensee’s records referred to above in subsection 6.5.1 at the Licensee’s address as set forth in the Agreement or such other
location(s) as the parties mutually agree during the Licensee’s normal business hours no more than once per year. The Licensee shall cooperate in the audit, including providing at no cost, commodious space in the Licensee’s place of
business for the auditor. The Licensee shall reimburse the University for all its out-of-pocket expenses to inspect and audit such records if the University, in accordance with the results of such inspection and audit, determines that the Licensee
has underpaid amounts owed to the University by at least six and one half percent (6.5%) or twenty-five thousand and no/100 dollars ($25,000), whichever is smaller, in a reporting period. The Licensee shall cause each sublicensee and each
non¬affiliated third party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to grant the University a right to inspect and audit the sublicensee’s or third party’s records
substantially similar to the rights granted 

 
the University in this subsection. In connection with, and before the commencement of, an audit, if the Licensee requests in writing to the University, then prior to conducting such audit, the
Licensee, the University and the auditor must enter into an agreement prohibiting the auditor and the University from disclosing the Licensee’s nonpublic, proprietary information to any third party without the Licensee’s prior written
consent; provided, however, that consistent with generally accepted auditing standards and the auditor’s professional judgment, the auditor may disclose such information to the University and its agents, counsel, or consultants. The Licensee
acknowledges that such an agreement is adequate to protect its legitimate interests, and the parties agree that there shall be no additional nondisclosure agreement demanded as a condition to the commencement of an audit and the University’s
exercising its rights under this subsection. 
 6.5 Currency and Checks. All computations and payments made under the Agreement
shall be in United States dollars. To determine the dollar value of transactions conducted in non United States dollar currencies, the parties shall use the exchange rate for the currency into dollars as reported in the Wall Street Journal as the
New York foreign exchange mid-range rate on the last business day of the month in which the transaction occurred. 
 7. Infringement.

 7.1 If a party learns of substantial, credible evidence that a third party is making, using, or selling a product in the
Field of Use in the Territory that infringes a Licensed Patent, such party shall promptly notify the other party in writing of the possible infringement and in such notice describe in detail the information suggesting infringement of the Licensed
Patent. Prior to commencing any action to enforce a Licensed Patent, the parties shall enter into good faith negotiations on the desirability of bringing suit, the parties to the action, the selection of counsel, and such other matters as the
parties may agree to discuss, including the allocation of expenses and the sharing of any recovery. No provision of this Agreement limits, conditions, or otherwise affects a party’s statutory and common-law rights to commence an action to
enforce a Licensed Patent. In any such action, the parties agree to cooperate fully with each other and will use reasonable efforts to permit access to relevant personnel, records, papers, information, samples and specimens during regular business
hours. 
 7.2. If the validity of a Licensed Patent is questioned in any suit, action or proceeding, the Licensee shall: i)
promptly inform the University of such suit and ii) have no right to make any settlement or compromise which affects the scope, validity, enforceability or otherwise of the Licensed Patent without the University’s prior written approval.

 8. Termination. 
 8.1. By the University. 
 8.1.1 If the Licensee breaches or fails
to perform one or more of its obligations under the Agreement, the University may deliver a written notice of default to the Licensee. Without further action by a party, the Agreement shall terminate if the default has not been cured in full within
(x) thirty (30) days after the delivery to the Licensee of 

 
the notice of default if the default relates to a payment or reimbursement obligation under this Agreement or (y) ninety (90) days after the delivery to the Licensee of the notice of
default if the default relates to any other matter. 
 8.1.2 The University may terminate the Agreement by
delivering to the Licensee a written notice of termination at least ten (10) days before the date of termination if the Licensee (i) voluntarily files or has filed against it a petition under applicable bankruptcy or insolvency laws that
the Licensee fails to have released within thirty (30) days after filing; (ii) proposes any dissolution, composition, or financial reorganization with creditors or if a receiver, trustee, custodian, or similar agent is appointed; or
(iii) makes a general assignment for the benefit of creditors. 
 8.2 By the Licensee. 

8.2.1. Licensee may terminate this agreement at any time after the third (3rd) anniversary of the Effective Date as
provided in section 2 above. 
 8.3 Post-termination Period. 

8.3.1 The Licensee shall not use, or permit others to use, the Licensed Technology or manufacture or have manufactured
Licensed Products if the agreement terminates pursuant to Section 8.1. If the Licensee terminates the Agreement under section 8.2 or if the Agreement expires, the Licensee may continue to offer to sell and sell, offer to lease and lease, and
otherwise offer to dispose of or dispose of Licensed Products in the Territory that were manufactured before such termination. If the University terminates the Agreement under section 8.1, however, the Licensee shall not offer to sell or sell, offer
to lease or lease, or otherwise offer to dispose of or dispose of a Licensed Product in the Territory. 
 8.3.2
Promptly upon expiration or termination of the Agreement, for whatever reason, the Licensee hereby grants and assigns to the University the sublicenses granted under the Agreement. Notwithstanding the foregoing, the University shall not be obligated
to assume any such sublicense agreement to which the University has reasonable grounds to object to the material terms of the sublicense agreement. The University shall have no obligation to pay the Licensee any amount in consideration for its
assumption of such titles, rights, and obligations. 
 8.3.3 Upon expiration or termination of the Agreement, for
whatever reason, the Licensee, upon University’s request, shall terminate each sublicense granted under the Agreement; shall deliver to the University a true, correct, and complete list identifying each sublicensee and describing the terms of
each sublicense, including the royalty rates and other financial terms, milestones, and other material terms; and shall cooperate in the University’s efforts to enter into licenses or other forms of agreement with the sublicensees. The Licensee
shall be liable for any costs, expenses, or damages payable to the sublicensee arising out of the termination of a sublicense. 

 9. Release, Indemnification, and Insurance. 

9.1 The Licensee’s Release. For itself and its employees, the Licensee hereby releases the University and its regents, employees,
and agents forever from any and all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses) relating to or arising out of the Licensee’s exercise or attempt to
exercise any of the rights or licenses granted it under this Agreement, including without limitation, the manufacture, use, lease, sale, or other disposition of a Licensed Product or the Licensee’s breach of any term of this Agreement unless
any such suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses) arise from or are the result of the University’s negligence or willful misconduct. 

9.2 The Licensee’s Indemnification. Throughout the Term and thereafter, the Licensee shall indemnify, defend, and hold the
University and its regents, employees, and agents harmless from all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses), relating to or arising out of the
Licensee’s exercises or attempt to exercise any of the rights or licenses granted it under this Agreement, including without limitation, the manufacture, use, lease, sale, or other disposition of a Licensed Product or the Licensee’s breach
of any term of this Agreement unless any such suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses) arise from or are the result of the University’s
negligence or willful misconduct. 
 9.3 The University’s Indemnification. Throughout the Term and thereafter, the
University shall indemnify, defend, and hold the Licensee and its directors, employees, and agents harmless from all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative
expenses) relating to or arising out of the University’s breach of any term of this Agreement. 
 9.4 The Licensee’s
Insurance. 
 9.4.1 Throughout the Term, or during such other period as the parties agree in writing, the
Licensee shall maintain, and shall cause each sublicensee to maintain, in full force and effect comprehensive general liability (“CGL”) insurance, with single claim coverage of $1,000,000.00 per occurrence and $2,000,000.00 in the annual
aggregate. Such insurance policy shall include coverage for claims that may be asserted by the University against the Licensee under section 9.2 and for claims by a third party against the Licensee or the University arising out of the purchase or
use of a Licensed Product. Such insurance policy must (i) name the University as an additional insured if the University so requests in writing and (ii) require the insurer to deliver written notice to the University at the address set
forth in section 23, at least thirty (30) days before the cancellation or non-renewal of the policy. Upofl receipt of the University’s written request, the Licensee shall deliver to the University a copy of the certificate of insurance for
such policy. 
 9.4.2 The provisions of subsection 9.4.1 do not apply if the University agrees in writing to
accept the Licensee’s or a sublicensee’s, as the case may be, self-insurance plan as adequate insurance. 

 9.5 Sublicensees—Release. The Licensee shall cause each sublicensee to grant the
University a release from liabilities substantially similar to the release granted in favor of the University above in section 9.1. 
  

	10.	Warranties. 

 10.1
Authority. Each party represents and warrants to the other party that it has full corporate power and authority to execute, deliver, and perform the Agreement, and that no other corporate proceedings by such party are necessary to authorize the
party’s execution or delivery of the Agreement. University hereby represents and warrants to Licensee that: (a) it owns all right, title and interest in and to the Licensed Patents; (b) each inventor has executed (or will execute) a
document assigning to University such inventor’s entire right, title and interest in and to the Licensed Technology and under the Licensed Patents; and (c) it has not granted (or will not grant) any right or interest in the Licensed
Technology or the Licensed Patents in the Field of Use that is inconsistent with rights granted to Licensee herein. 
 10.2
Disclaimers. 
 10.2.1 EXCEPT FOR THE EXPRESS WARRANTY SET FORTH ABOVE IN SECTION 10.1, THE UNIVERSITY DISCLAIMS
AND EXCLUDES ALL WARRANTIES, EXPRESS AND IMPLIED, CONCERNING THE LICENSED TECHNOLOGY, EACH LICENSED PATENT, EACH PATENT APPLICATION, AND EACH LICENSED PRODUCT, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF NON-INFRINGEMENT, OF MERCHANTABILITY AND OF
FITNESS FOR A PARTICULAR PURPOSE. 
 10.2.2 The University expressly disclaims any warranties concerning and
makes no representations: 
  

	 	(i)	that the Patent Applications will be allowed or granted or that a patent will issue from any Patent Application; 

 

	 	(ii)	concerning the validity, interpretation of claims or scope of anyLicensed Patent; or 

 

	 	(iii)	that the exercise of the rights or licenses granted to the Licensee under the Agreement will not infringe a third party’s patent or violate its intellectual
property rights. 

 10.3 Sublicensees—Warranties. The Licensee shall cause each sublicensee to give the
University warranties and disclaimers and exclusions of warranties substantially similar to the warranty and disclaimers and exclusions of warranties in favor of the University above in section 10.1 and subsections 10.2.1 and 10.2.2. 

 

	11.	Damages. 

 11.1 Remedy
Limitation. EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, IN NO EVENT SHALL THE UNIVERSITY BE LIABLE FOR (A) PERSONAL INJURY OR PROPERTY DAMAGES (EXCEPT TO THE EXTENT OF THE UNIVERSITY’S WILLFUL, WANTON, OR INTENTIONAL ACTS) OR
(B) LOST PROFITS, LOST 

 
BUSINESS OPPORTUNITY, INVENTORY LOSS, WORK STOPPAGE, LOST DATA OR ANY OTHER RELIANCE OR EXPECTANCY, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, OF ANY KIND. 

11.2 Damage Cap. EXCEPT FOR UNIVERSITY’S WILLFUL BREACH OF SECTION 3.1 OR ITS INDEMNIFICATION OBLIGATION UNDER 9.3, IN NO EVENT
SHALL THE UNIVERSITY’S TOTAL LIABILITY FOR THE BREACH OR NONPERFORMANCE OF THE AGREEMENT EXCEED THE AMOUNT OF PAYMENTS PAID TO THE UNIVERSITY UNDER SECTION 6.1 OF THE AGREEMENT. THIS LIMITATION APPLIES TO CONTRACT, TORT, AND ANY OTHER CLAIM OF
WHATEVER NATURE. 
 11.3 Sublicensees—Damages. The Licensee shall cause each sublicensee to agree to limitations of
remedies and damages substantially similar to the limitations of remedies and damages set forth above in sections 11.1 and 11.2. 
 12.
Amendment and Waiver. The Agreement may be amended from time to time only by a written instrument signed by the parties. No term or provision of the Agreement may be waived and no breach excused unless such waiver or consent is in writing and
signed by the party claimed to have waived or consented. No waiver of a breach is to be deemed a waiver of a different or subsequent breach. 

13. Assignment and Sublicense. Except as permitted under subsection 3.1.2 and section 14 of these Terms and Conditions, the Licensee shall not
assign or sublicense its interest or delegate its duties under the Agreement. Any assignment, sublicense, or delegation attempted to be made in violation of this section is void. Absent the consent of all the parties, an assignment or delegation
will not release the assigning or delegating party from its obligations. The Agreement inures to the benefit of the Licensee and the University and their respective permitted sublicensees and trustees. 

14. Change of Control. Notwithstanding section 13 above, the Licensee, without the prior approval of the University, may assign all, but no less
than all, its rights and delegate all its duties under the Agreement to another if the assignment is made as a part of and in connection with (a) the sale by the Licensee of all or substantially all of its assets to a single purchaser,
(b) the sale, transfer, or exchange by the shareholders, partners, or equity owners of the Licensee of a majority interest in the Licensee to a single purchaser, or (c) the merger of the Licensee into another corporation or other business
entity. Any assignment attempted to be made or made in violation of this subsection is void. 
 15. Applicable Law. The internal laws of
the state of Minnesota, without giving effect to itsconflict of laws principles, govern the validity, construction, and enforceability of the Agreement. 
 16. Access to University Information. 
 16.1 Data Practices Act. The
parties acknowledge that the University is subject to the terms and provisions of the Minnesota Government Data Practices Act, Minnesota Statutes §13.01 et seq. (the “Act”), and that the Act requires, with certain exceptions, the
University to permit the public to inspect and copy any information that the University collects, creates, receives, maintains, or disseminates. 

 16.2 Limited Confidentiality. To the extent permitted by law, including as provided in the
Act, the University shall hold in confidence and disclose only to University employees, agents and contractors who need to know the reports described above in sections 5.4 and 6.4 and the records inspected in accordance with section 6.5 of these
Terms and Conditions. No provision of the Agreement is to be construed to further prohibit, limit, or condition the University’s right to use and disclose any information in connection with enforcing the Agreement, in court or elsewhere.

 17. Consent and Approvals. Except as otherwise expressly provided, in order to be effective, all consents or approvals required under
the Agreement must be in writing. 
 18. Construction. The headings preceding and labeling the sections of the Agreement are for the
purpose of identification only and are not to be employed or used for the purpose of construction or interpretation of any portion of EPLA. As used herein and where necessary, the singular includes the plural and vice versa, and masculine, feminine,
and neuter expressions are interchangeable. 
 19. Enforceability. If a court of competent jurisdiction adjudges a provision of the
Agreement to be unenforceable, invalid, or void, such determination is not to be construed as impairing the enforceability of any of the remaining provisions hereof and such provisions will remain in full force and effect. 

20. Entire Agreement. The parties intend the Agreement (including all attachments, exhibits, and amendments hereto) to be the final and binding
expression of their contract and agreement and the complete and exclusive statement of the terms thereof. The Agreement cancels, supersedes, and revokes all prior negotiations, representations and agreements among the parties, whether oral or
written, relating to the subject matter of the Agreement. 
 21. No Third-Party Beneficiaries. No provision of the Agreement, express or
implied, is intended to confer upon any person other than the parties to the Agreement any rights, remedies, obligations, or liabilities hereunder. No sublicensee may enforce or seek damages under the Agreement. 

22. Language and Currency. Unless otherwise expressly provided in the Agreement and in order to be effective, all notices, reports, and other
documents and instruments that a party elects or is required to deliver to the other party must be in English, and all notices, reports, and other documents and instruments detailing revenues and earned under the Agreement or expenses chargeable to
a party must be United States dollar denominated. 

 23. Notices. In order to be effective, all notices, requests, and other communications that a party
is required or elects to deliver must be in writing and must be delivered personally, or by facsimile or electronic mail (provided such delivery is confirmed), or by a recognized overnight courier service or by United States mail, first-class,
certified or registered, postage prepaid, return receipt requested, to the other party at its address set forth below or to such other address as such party may designate by notice given under this section: 

 

			
	If to the University:	  	University of Minnesota
		  	Office for Technology Commercialization
		  	Attn: Contracts Manager
		  	1000 Westgate Drive, Suite 160
		  	St. Paul, MN 55114
		  	Phone: 612.624.0550 Fax: 612.624.6554
		  	E-mail: umotc@unm.edu
		  	Web site: http://www.research.umn.edu/techcomm
		
	For notices sent	  	University of Minnesota
	Under section 8,	  	Office of the General Counsel
	With a copy to:	  	Attn: Transactional Law Services
		  	360 McNamara Alumni Center
		  	200 Oak Street S.E.
		  	Minneapolis, MN 55455-2006
		  	Facsimile No.: 612.626.9624
		  	E-mail: contracts@malogc.unm.edu
		
	If to the Licensee:	  	As indicated in section 12 of the EPLA.

 24. Publicity. The University may disclose to the public the execution and delivery of the Agreement along with
the Licensee’s name and the name of the Licensed Technology. In no instance shall the University disclose to a third party the terms of the agreement including, without limitation, financial terms or Field of Use except as provided for in the
Act. 
 25. Relationship of Parties. In entering into, and performing their duties under the Agreement, the parties are acting as
independent contractors and independent employers. No provision of the Agreement creates or is to be construed as creating a partnership, joint venture, or agency relationship between the parties. No party has the authority to act for or bind the
other party in any respect. 
 26. Security Interest. In no event may the Licensee grant, or permit any person to assert or perfect, a
security interest in the Licensee’s rights under the Agreement. 
 27. Survival. Immediately upon the termination or expiration of
the Agreement, except for certain rights granted for the Post-termination Period, all the Licensee’s rights under the Agreement terminate; provided, however, the Licensee’s obligations that have accrued before the effective date of
termination or expiration (e.g., the obligation to report and make payments on sales, leases, or dispositions of Licensed Products and to reimburse the University for costs) and the obligations specified in section 6.1 survive. The obligations and
rights set forth in sections 6.4 and 8.3 and sections 9, 10, and 11 also survive the termination or expiration of the Agreement. 
 28.
This section intentionally left blank. 

 29 Forum Selection. If a suit, claim, or other action to enforce the terms of the Agreement is
brought by the Licensee against the University it shall only be in the state courts of Hennepin County, Minnesota. The Licensee hereby submits to the jurisdiction of that court and waives any objections it may have to that court asserting
jurisdiction over the Licensee or its assets and property. If a suit, claim or other action to enforce the terms of the Agreement is brought by the University against the Licensee, it shall only be in the state courts of Clarke County, Georgia. The
University hereby submits to the jurisdiction of that court and waives any objections it may have to that court asserting jurisdiction over the University or its assets and property. 

 UNIVERSITY OF MINNESOTA 

EXHIBIT B 

ROYALTY REPORT FORM 
  

							
	 Date
  

Licensee Name & Address
	  	 	  	 **EXAMPLE ONLY**
 FORM WILL BE SENT

TO COMPANY EACH PERIOD
 FOR COMPLETION

							
			
		  		 	
			
	License Number	  	 	 	 
		  		 	
	Reporting Period:  	  	  	 	  Report Due Date:    	  	  

 This report must be submitted regardless of whether royalties are owed. Please do not leave any column blank. State
all information requested below. 
  

									
	U of M Docket #	 	Product Description	 	Royalty Rate	 	Quantity/Net Sales	 	Royalty Due
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

					
	Report Completed by:                        
                                         
    	 	Total Royalties Due:                     
                                         
           
	Telephone Number:                         
                                         
      	 	
		
	If you have questions please contact:	 	Sharyl Stuber
		 	612-625-4537
		 	lowin001@urnmedu

 Please make check payable to: Regents of the University of MinnesotaNon-Exclusive Sub-License Agreement

 Exhibit 10.3 
 NON-EXCLUSIVE SUBLICENSE AGREEMENT 
 between 

PANGEN1X 
 and

 AviGenics Inc. 
 for 
 Viral Particles Having Altered Host Range (VSV) For Birds 

1st Amendment, April 1, 2003 

							
	 	  	TABLE OF CONTENTS	  	PAGE	 
		
	 BACKGROUND
	  	 	1	  
	1.	  	DEFINITIONS	  	 	3	  
	2.	  	GRANTS	  	 	4	  
	3.	  	SUBLICENSES	  	 	4	  
	4.	  	PAYMENT TERMS	  	 	4	  
	5.	  	TECHNOLOGY FEE	  	 	6	  
	6.	  	EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES	  	 	6	  
	7.	  	DUE DILIGENCE	  	 	7	  
	8.	  	PROGRESS AND ROYALTY REPORTS	  	 	7	  
	9.	  	BOOKS AND RECORDS	  	 	7	  
	10.	  	LIFE OF THE AGREEMENT	  	 	8	  
	11.	  	TERMINATION BY PANGENIX	  	 	8	  
	12.	  	TERMINATION OR REDUCTION BY AviGenics	  	 	9	  
	13.	  	DISPOSITION OF LICENSED PRODUCTS ON HAND UPON TERMINATION	  	 	9	  
	14.	  	USE OF NAMES AND TRADEMARKS	  	 	9	  
	15.	  	LIMITED WARRANTY	  	 	9	  
	16.	  	PATENT PROSECUTION AND MAINTENANCE	  	 	10	  
	17.	  	PATENT MARKING	  	 	11	  
	18.	  	PATENT INFRINGEMENT	  	 	11	  
	19.	  	INDEMNIFICATION	  	 	12	  
	20.	  	NOTICES	  	 	12	  
	21.	  	AS SIGNABILITY	  	 	13	  
	22.	  	NO WAIVER	  	 	13	  
	23.	  	FAILURE TO PERFORM	  	 	14	  
	24.	  	GOVERNING LAWS	  	 	14	  
	25.	  	PREFERENCE FOR UNITED STATES INDUSTRY	  	 	14	  
	26.	  	GOVERNMENT APPROVAL OR REGISTRATION	  	 	14	  
	27.	  	EXPORT CONTROL LAWS	  	 	14	  
	28.	  	SECRECY	  	 	15	  
	29.	  	NEW DEVELOPMENTS	  	 	16	  
	30.	  	MISCELLANEOUS	  	 	16	  

 SUBLICENSE AGREEMENT 

FOR 

“VIRAL PARTICLES HAVING ALTERED HOST RANGE (VSV) FOR BIRDS” 

THIS SUB-LICENSE AGREEMENT (the “Agreement”) is effective as of 5 December 2000 (the “Effective Date”) between
PANGENIX, a California corporation having a place of business at 6505 El Camino del Teatro, La Jolla, CA 92037-6337 (“Pangenix”), as sublicensor, and AviGenics, Inc., a corporation having a place of business at 111 Riverbend
Road, Athens, GA -30605. 
 BACKGROUND 
 A. Pangenix represents that it has exclusive rights under certain patents and patent applications to [***] pursuant to an agreement with The Regents of the University of California, dated April 24,
1996 and titled License Agreement For “Viral Particles Having Altered Host Range (VSV)” as amended on September 11, 1997 and April 15, 1999, (hereinafter referred to as the “Master License”), such rights being limited
by third party rights set forth in Paragraph 1.1 of the Master License. 
 B. Pangenix has the right under the Master License to
grant sublicenses. 
 C. Pangenix represents and assures to AviGenics that the Master License is in full force and effect, and
that Pangenix has performed all actions and obligations set forth for Pangenix in the Master License to this date, and that Pangenix has received no notices from The Regents under the Master License identifying any non-performance, breach or default
by Pangenix or termination or diminuation of the Master License. 
 D. AviGenics desires to obtain all the worldwide
non-exclusive rights held by Pangenix in the Field. 
 NOW, THEREFORE, in consideration of the aforementioned premises
and the following obligations, the parties agree: 
 1. DEFINITIONS. 

1.1 Patent Rights means: 
  

	 	(a)	[***]; 

  

	 	(b)	[***]; 

  

	 	(c)	[***]; 

  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

  
 1 

	 	(d)	[***] 

  

	 	(e)	[***]; and 

  

	 	(f)	[***]. 

 1.2 “Licensed
Product” means any material that is produced using the Licensed Method, or that the use of which would constitute, but for the license granted to Pangenix under the Master License and to AviGenics under this Agreement, an infringement of any
pending or issued claim within Patent Rights. 
 1.3 “Licensed Method” means any method the use of which would
constitute, but for the license granted to Pangenix under the Master License and to AviGenics under this Agreement, an infringement of any pending or issued claim within Patent Rights. 

1.4 “Net Sales” means the total of the gross invoice prices of Licensed Products sold by AviGenics, or an affiliate, or a
sublicensee of AviGenics, less the sum of the following actual and customary deductions where applicable: cash, trade, or quantity discounts; sales, use, tariff, import/export duties or other excise taxes imposed on particular sales; transportation
charges and allowances; credits, rebates, or repayments actually paid to customers because of rejections, debits, or returns or because of retroactive price reductions. For purposes of calculating Net Sales, transfer to an affiliate or sublicensee
for end use by the affiliate or sublicensee will be treated as sales at list price. 
 1.5 “Affiliate” means any
corporation or other business entity in which AviGenics owns or controls, directly or indirectly, at least fifty percent (50%) of the outstanding stock or other voting rights entitled to elect directors, or in which AviGenics is owned or
controlled directly or indirectly by at least 50% of the outstanding stock or other voting rights entitled to elect directors; but in any country where the local law does not permit foreign equity participation of at least 50%, then an
“Affiliate” includes any company in which AviGenics owns or controls or is owned or controlled by, directly or indirectly, the maximum percentage of outstanding stock or voting rights permitted by local law. 

1.6 “Field of Use” means [***]. 
 1.7 “The Regents” means The Regents of the University of California. 

1.8 “Master License” means the License Agreement for “Viral Particles Having Altered Host Range (VSV)” between The
Regents and Pangenix, having an effective date of April 24, 1996 and all amendments thereto. 
  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

  
 2 

 1.9 “Sublicense or Sub-Sublicense” shall mean any transfer of licensed Patent
Rights in any form to a third party and shall be subject to the terms defined in Paragraph 6.1(b), but shall expressly exclude the sale, by AviGenics and any customer of AviGenics, of Licensed Products. Sublicensing terms shall not apply to Licensed
Products or progeny of Licensed products generated through breeding programs. 
 2. GRANTS. 

2.1 Subject to the limitations set forth in this Agreement and the Master License, Pangenix grants to AviGenics a world-wide license
under Pangenix’s interest in Patent Rights to make, have made, use, and sell Licensed Products and to practice the Licensed Method in the Field of Use. 
 2.2 The license granted in Paragraph 2.1 is non-exclusive for the life of the Agreement. 
 2.3 The license granted in paragraph 2.1 is subject to all the applicable provisions of any license to the United States Government executed by The Regents and are subject to the overriding obligations to
the U.S. Government under 35 U. S.C. 200-212 (Titled: Patent Rights In Inventions Made With Federal Assistance) and applicable regulations. 
 2.4 The license granted in Paragraph 2.1 is limited to methods and products that are within the Field of Use. For methods and products that are outside the Field of Use, AviGenics has no license.

 2.5 The Regents have reserved the right to use the Inventions and associated technology for educational and research purposes
pursuant to the provisions of the Master License. 
 2.6 Pangenix has transferred to AviGenics all unrestricted technology
associated with or relating to the Patent Rights as known by Pangenix. Pangenix shall provide its full cooperation in transferring such technology to AviGenics, including providing copies of all documents in Pangenix’s possession and providing
written reports of other information at AviGenics’ request and seeking information from third parties who may possess unrestricted technology. The transfer of materials shall include [***], including sequence and restriction enzyme maps,
packaging cell lines based on the [***], and protocols for production, purification, and concentration of vector stocks. This obligation to transfer technology shall be ongoing during the term of this Agreement. 

 

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

  
 3 

 2.7 Pangenix shall promptly provide to AviGenics any notice which Pangenix receives from The
Regents relating to the Master License. In the event Pangenix cannot reasonably cure or correct any notice of default received from The Regents pursuant to Article 11.1 of the Master License, upon request by AviGenics, Pangenix shall transfer and
assign to AviGenics all its rights under the Master License to the extent Pangenix is entitled to transfer and assign rights and to the extent as may be permitted by The Regents for such rights as Pangenix is not entitled to transfer and assign.

 3 SUBLICENSES  
 3.1 Pangenix also grants to AviGenics the unlimited right to issue sub-sublicenses to third parties to make, have made, use, and sell Licensed Products and to practice the Licensed Method in the Exclusive
Field of Use, as long as AviGenics has current non-exclusive rights (as identified in Article 2 above) under this Agreement. Such sub-sublicenses may allow additional sublicenses to any extent at the discretion of AviGenics. To the extent
applicable, sub-sublicenses must include all of the rights of and obligations due to The Regents (and, if applicable, the United States Government) as contained in the Master License. 

3.2 AviGenics shall promptly provide Pangenix with a copy of each sub-sublicense issued; transfer to Pangenix a share of sublicensing
income received from sub-sublicensees as required under Article 6.1(2) herein; and summarize and deliver all reports due Pangenix under this Agreement. 
 3.3 Upon termination of this Agreement, AviGenics shall assign all sub-sublicenses to Pangenix or The Regents as so advised, and Pangenix or The Regents shall accept assignment of the sublicenses,
however, the obligation of The Regents to accept such assignments shall be limited to the extent that it may be inappropriate for The Regents to do so as a public entity, provided that The Regents will in no event be required to accept greater
obligations or lesser rights than those set forth in The Master License. 
 4. PAYMENT TERMS 

4.1 Paragraphs 1.1, 1.2 and 1.3 define Patent Rights, Licensed Products and Licensed Methods so that royalties are payable on products
and methods covered by either pending patent applications or issued patents. Royalties will accrue in each country for the duration of Patent Rights in that country and are payable to Pangenix, in accordance with Paragraph 4.2, when 

  
 4 

 
Licensed Products are invoiced, or if not invoiced, when delivered to a third party. Multiple royalties shall not be due for Licensed Products and Licensed Methods manufactured, sold, used or
otherwise falling within Patent Rights in more than one country. 
 4.2 AviGenics shall pay earned royalties quarterly on or
before February 28, May 31, August 31 and November 30 of each calendar year. Each payment will be for earned royalties accrued within the AviGenics’s most recently completed calendar quarter. 

4.3 All monies due Pangenix must be paid in United States dollars. When Licensed Products are sold for monies other than United States
dollars, AviGenics shall first determine the earned royalty in the currency of the country in which Licensed Products were sold and then convert the amount into equivalent United States funds, using the exchange rate quoted in the Wall Street
Journal on the last business day of the calendar quarter for which the payment is due. 
 4.4 AviGenics shall not reduce
royalties earned in a foreign country by any taxes, fees, or other charges imposed by that country’s government, except that payments made by AviGenics in fulfillment of Pangenix’s or The Regents’ tax liability in a foreign country
are creditable against royalties earned in that country. AviGenics is responsible for all bank transfer charges. 
 4.5 If legal
restrictions prevent the payment of royalties, AviGenics shall deposit the amount owed to Pangenix into an interest bearing account in the applicable country in the name of Pangenix until the restrictions are removed. However, if these restrictions
persist for longer than a year, AviGenics shall calculate the amount owed in U.S. dollars and shall pay that amount and all subsequent royalties owed Pangenix from its U.S. source of funds. 

4.6 If any patent or patent claim within Patent Rights lapses, is canceled, abandoned, is admitted to be invalid or unenforceable through
reissue or disclaimer, or is held invalid in a final decision by a court of competent jurisdiction and last resort and from which no appeal has or can be taken, all obligation to pay royalties based on that patent or claim or any claim patentably
indistinct therefrom ceases as of the date of such determination. AviGenics is not, however, relieved from paying any royalties that accrued before the final decision or that are based on another patent or claim not involved in such determination.

  
 5 

 4.7 No royalties may be collected or paid on Licensed Products sold to the account of the
U.S. Government, any agency thereof, state or domestic municipal government as provided for in the license to the Government. 

4.8 If royalties or other amounts due hereunder are not received by Pangenix when due, AviGenics shall pay to Pangenix interest charges
on the unpaid amount at a rate of [***] per annum. Interest is calculated from the date payment was due until actually received by Pangenix. 

5 TECHNOLOGY FEE 

5.1 AviGenics shall pay to Pangenix a technology transfer fee [***] within [***] days after this Agreement is signed by both parties.
This fee is non-refundable, non-cancelable, and is not an advance against royalties. 
 6 EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES
 
 6.1 AviGenics shall pay earned royalties to Pangenix based on Net Sales of Licensed Products sold under the license
granted herein at the royalty rates set forth below: 
  

	 	(a)	[***] of Net Sales of Licensed Product sold or otherwise transferred to a non-affiliate; 

 

	 	(b)	[***] of sub-sublicensing income 

 If AviGenics
or a sublicensee of AviGenics needs a third party license to make, use, or sell Licensed Product or practice a Licensed Method, and such third party licenses have earned royalty obligations based on the sales of Licensed Products, the royalty rate
set forth herein shall be reduced by one-half of any royalty due and paid under such third party licenses, but in no instance may the earned royalty due to Pangenix be [***]. 
 6.2 AviGenics shall pay to Pangenix a minimum annual royalty in the amount of [***] each year during the term of this agreement. The minimum annual royalty is due at the beginning of each license year.
Minimum annual royalties paid under this Paragraph will be credited against the earned royalty due for the calendar year for which the minimum payment was made (i.e. the anniversary of the Effective Date). The first annual royalty payment shall be
due within [***] days after this Agreement is signed by both parties. 
 6.3 Only one royalty shall be due and payable to Pangenix for the
manufacture, use and sale of a Licensed Product irrespective of the number of patents or claims thereof which cover the manufacture, use and sale of Licensed Product. 
  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

  
 6 

 7.0 DUE DILIGENCE  
 7.1 AviGenics shall proceed with the development, manufacture and sale of Licensed Products in accordance with reasonable and prudent generally accepted business practices, and shall endeavor to market
Licensed Products within a reasonable time after execution of this Agreement and in quantities sufficient to meet market demands. 
 7.2 Pangenix represents that it has satisfied the “commercial sales” requirements set forth in the Master License, section 7.2, and AviGenics shall not have to satisfy the commercial sales
provision of such section 7.2 or any other commercial sales provision. 
 8. PROGRESS AND ROYALTY REPORTS  

8.1 On the first anniversary of the Effective Date hereof and annually thereafter, AviGenics shall submit to Pangenix a progress report
covering AviGenics’ (and any Affiliate’s or sublicensee’s) activities related to the development and testing of all Licensed Products. Following the first commercial sale of Product, AviGenics shall submit to Pangenix a progress
report semi-annually thereafter. Progress reports must include: a summary of work completed, current schedule of anticipated events or milestones; and market plans for introduction of Licensed Products. Progress reports are required for each
Licensed Product except for years when commercial sales of that Licensed Product occur in the United States. 
 8.2 AviGenics
shall report to Pangenix the date of first commercial sale of a Licensed Product in each country. Each such first sale date shall be reported in the next required progress or royalty report. 

8.3 After the first commercial sale of a Licensed Product anywhere in the world, AviGenics shall make quarterly royalty reports to
Pangenix on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report will cover AviGenics’s most recently completed calendar quarter and will show (a) the gross sales and
Net Sales of Licensed Products sold during the most recently completed calendar quarter; (b) the number of each type of Licensed Product sold; (c) the royalties, in U.S. dollars, payable with respect to sales of Licensed Products;
(d) the method used to calculate the royalty; and (e) the exchange rates used. 
 8.4 If no sales are made during any
reporting period, a statement to this effect is required. 
 9. BOOKS AND RECORDS  

9.1 AviGenics shall keep accurate books and records showing all Licensed Products manufactured, used, and/or sold under the terms of this
Agreement. Books and records must be preserved for at least three (3) years from the due date of the royalty payment to which they pertain. 

  
 7 

 9.2 AviGenics shall make its books and records open to inspection by representatives or
agents of Pangenix, at reasonable times. Pangenix shall bear the fees and expenses of examination but if an error in royalties of more than five percent (5%) of the total royalties due for any year is discovered in any examination, then
AviGenics shall bear the fees and expenses of that examination. AviGenics shall include substantially the same inspection rights in any sublicense it grants, in order to ensure accuracy of payments due hereunder. 

10. LIFE OF THE AGREEMENT 
 10.1 This Agreement is in effect until expiration of the last-to-expire patent licensed under this Agreement. Notwithstanding the foregoing, the Agreement may be terminated by operation of law or by acts
of the parties in accordance with the terms of this Agreement. 
 10.2 Any termination of this Agreement does not affect the
rights and obligations set forth in the following Articles: 
  

			
	 Article 9
	  	Books and Records
		
	 Article 13
	  	Disposition of Licensed Products on Hand on Termination
		
	 Article 14
	  	Use of Names and Trademarks
		
	 Article 19
	  	Indemnification
		
	 Article 23
	  	Failure to Perform
		
	 Article 28
	  	Secrecy

 11. TERMINATION BY PANGENIX 
 11.1 If AviGenics fails to perform or violates any material term of this Agreement, then Pangenix may give written notice of default (Notice of Default) to AviGenics. If AviGenics fails to cure the
default within sixty (60) days of the effective date of Notice of Default, Pangenix may terminate this Agreement and its licenses by a second written notice, which is effective on the date the notice is deemed given under Article 20. If a
Notice of Termination is sent to AviGenics, this Agreement automatically terminates on the effective date of that notice. Termination does not relieve AviGenics of its obligation to pay fees owing at the time of termination and does not impair any
accrued right of Pangenix. 

  
 8 

 12. TERMINATION BY AviGenics  

12.1 AviGenics may, at any time, terminate this Agreement in whole or as to any portion of the Patent Rights by giving notice in writing
to Pangenix. Notice of termination is subject to Article 20 and termination of this Agreement is effective sixty (60) days from the effective date of notice. 
 12.2 Any termination under the above paragraph does not relieve AviGenics of any obligation or liability accrued under this Agreement prior to termination or rescind any payment made to Pangenix or
anything done by AviGenics prior to the time termination becomes effective. Termination does not affect in any manner any rights of Pangenix arising under this Agreement prior to termination. 
 13. DISPOSITION OF LICENSED PRODUCTS ON HAND UPON TERMINATION  

13.1 Upon termination of this Agreement AviGenics is entitled to dispose of all previously made or partially made Licensed Products, but
no more, provided that the sale of those Licensed Products is subject to the terms of this Agreement, including but not limited to the rendering of reports and payment of earned royalties. 

13.2 If this Agreement is terminated by either party, Pangenix may require that AviGenics either destroy or return to Pangenix, all
biological materials, if any, under AviGenics’s control at the time of termination. AviGenics shall comply with Pangenix’s requirement and shall return the biological materials or provide Pangenix with written assurance of their
destruction, as appropriate, within thirty (30) days of the effective date of termination. 
 14. USE OF NAMES AND TRADEMARKS
 
 14.1 Nothing contained in this Agreement confers any right to use in advertising, publicity, or other promotional
activities any name, trade name, trademark, or other designation of either party hereto (including contraction, abbreviation or simulation of any of the foregoing). Unless required by law, the use by AviGenics of the name, “Pangenix” or
“The Regents of the University of California” or the name of any campus of the University of California is prohibited without prior written consent by Pangenix or The Regents, as may be appropriate. 

15. LIMITED WARRANTY 
 15.1 Pangenix warrants to AviGenics that it has the lawful right to grant this license. 
 15.2 This license and the associated Invention are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. PANGENIX MAKES NO
REPRESENTATION OR WARRANTY THAT THE LICENSED PRODUCTS OR LICENSED METHODS WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

  
 9 

 15.3 [***] IN NO EVENT WILL PANGENIX BE LIABLE FOR ANY INCIDENTAL, SPECIAL, OR CONSEQUENTIAL
DAMAGES RESULTING FROM THE EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTION OR LICENSED PRODUCTS. 
 15.4 This Agreement
does not: 
 (a) warrant or represent the validity or scope of any patent or patent application under Patent
Rights; 
 (b) warrant or represent that anything made, used, sold or otherwise disposed of under any license
granted in this Agreement is or will be free from infringement of patents of third parties; 
 (c) obligate
Pangenix to bring or prosecute actions or suits against third parties for patent infringement; 
 (d) confer by
implication, estoppel or otherwise any license or rights under any patents of Pangenix other than Patent Rights as defined in this Agreement, regardless of whether those patents are dominant or subordinate to Patent Rights. 

16. PATENT PROSECUTION AND MAINTENANCE  
 16.1 Pangenix has paid and shall continue to pay all patent costs required and set forth in Article 16 of the Master License. Pangenix shall provide AviGenics with copies of all documentation relating to
patents and patent applications within Patent Rights so that AviGenics may be informed of the continuing prosecution and AviGenics agrees to keep this documentation confidential. AviGenics does not assume any obligation to pay any patent costs set
forth in Article 16 of the Master License. 
 16.2 Pangenix’s obligation to underwrite and to pay patent prosecution costs
in accordance with the Master License will continue for so long as this Agreement remains in effect. In the event Pangenix elects to not pursue prosecution or maintenance or pay any patent prosecution or maintenance costs, Pangenix shall provide
written notice of such election at least 45 days prior to the due date of such prosecution, maintenance or costs. AviGenics shall be entitled to take any such action in the place of Pangenix and any costs incurred or fees paid by AviGenics in such
an event shall be a credit against future amounts due to Pangenix from AviGenics. 
  

					
	[***]	 	=	 	Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the
Commission.

  
 10 

 16.3 AviGenics may file, prosecute or maintain patent applications as its own expense in any
country in which Pangenix has not elected to file, prosecute, or maintain patent applications in accordance with this Article, and those applications and resultant patents will not be subject to this Agreement. 

17. PATENT MARKING 
 17.1 AviGenics shall mark all Licensed Products made, used or sold under the terms of this Agreement, or their containers, in accordance with the applicable patent marking laws. 

18. PATENT INFRINGEMENT  
 18.1 AviGenics shall notify Pangenix if AviGenics learns of the infringement or potential infringement of any issued patent under Patent Rights where AviGenics has non-exclusive rights and where The
Regents is sole assignee (e.g., U.S. Patents 5,512,427 and 5,670,350 and U.S. Patent Application Serial Nos. 08/484,952 and 08/484,965; and continuing applications thereof, as identified in Patent Rights). Neither party will notify a third party of
such infringement without prior written consent of the other party, which consent will not be unreasonably denied and both parties shall cooperate with each other to terminate infringement without litigation. 

18.2 If action taken by the parties under Paragraph 18.1 does not stop the infringement, AviGenics may ask Pangenix to take legal action
against the infringement. Such request must be in writing and must include reasonable evidence of infringement and damages to AviGenics. Pangenix shall notify AviGenics within 100 days following the effective date of AviGenics’s request whether
Pangenix chooses to: 
  

	 	(a)	commence suit on its own account; or 

  

	 	(b)	refuse to commence suit 

 If Pangenix does not
provide such notice to AviGenics within the above-specified 100 days, Pangenix will be deemed to have refused to commence suit. AviGenics may thereafter sue for patent infringement, at its own expense, if and only if Pangenix elects not to sue and
if the infringement occurred during the period and in a jurisdiction where AviGenics had non-exclusive rights under this Agreement. If, however, AviGenics sues under this Paragraph, Pangenix may thereafter join that suit at its own expense.

  
 11 

 18.3 Legal action will be at the expense of the party bringing suit and all recoveries will
belong to the party bringing suit, but legal action brought jointly by Pangenix and AviGenics and fully participated in by both will be at the joint expense of the parties and all recoveries will be shared equally by them after reimbursement of
expenses. 
 18.4 Each party shall cooperate with the other in litigation proceedings but at the expense of the party bringing
suit. Litigation will be controlled by the party bringing the suit. Each party may be represented by counsel of its choice at its expense in any suit brought by the other party. 

18.5 With regard to the infringement of patents under Patent Rights not identified in Paragraph 18.1, AviGenics shall notify Pangenix if
AviGenics learns of any substantial infringement. 
 19. INDEMNIFICATION 

19.1 AviGenics shall indemnify, hold harmless and defend Pangenix and The Regents, its officers, employees, and agents; the sponsors of
the research that led to the Invention; and the inventors of the patents and patent applications in Patent Rights and their employers against any and all claims, suits, losses, damage, costs, fees, and expenses resulting from or arising out of
exercise of this license or any sublicense. This indemnification includes, but is not limited to, any product liability. 
 19.2
AviGenics, at its sole cost and expense, shall insure its activities in connection with the work under this Agreement and obtain, keep in force and maintain adequate product liability insurance to cover its activities under this Agreement.

 19.3 If Pangenix intends to invoke the provisions of this Article in response to a claim or suit brought against it, Pangenix
shall so notify AviGenics in writing. AviGenics shall keep Pangenix informed on a current basis of its defense of any claims under this Article. 
 20. NOTICES  
 20.1 Any notice or payment required to be given to
either party is properly given and effective (a) on the date of delivery if delivered in person, (b) on the date of a confirmed facsimile transmission to the respective facsimile numbers listed below, or to another number as is designated
by written notice given to the other party, or (c) five (5) days after mailing if mailed by first-class certified mail, postage paid, to the respective addresses given below, or to another address as is designated by written notice given
to the other party. 

  
 12 

					
	In the case of Pangenix:	  	Pangenix
		  	6505 El Camino del Teatro
		  	La Jolla, CA 92037-6337
		  	Fax: (619) 543-3546
		
	In the case of The Regents:	  	The Regents of the University of California
		  	Office of Technology Transfer
		  	University of California
		  	1111 Franklin Street, Fifth Floor
		  	Oakland, California 94607-5200
		  	Attn:	  	Executive Director
		  		  	Office of Research Administration and
		  		  	Technology Transfer
		  	Referring to: UC Case No. 90-265
		  	Fax: (510) 587-6090
		
	In the case of AviGenics:	  	Carl Marhaver
		  	Chief Operating Officer, AviGenics Inc.
		  	111 Riverbend Road
		  	Athens, GA 30605
		  	Fax: (706) 227-2180

 21. ASSIGNABILITY 
 21.1 This Agreement may be assigned by either party with the prior written consent of the other party, which consent will not be unreasonably withheld. Also, either party may assign this Agreement and all
its rights and obligations hereunder without such consent in connection with the transfer or sale of substantially all of its business, or in the event of its merger, consolidation, change in control, or similar transaction. 

22. NO WAIVER 

22.1 No waiver by either party of any default of this Agreement may be deemed a waiver of any subsequent or similar default. 

  
 13 

 23. FAILURE TO PERFORM 

23.1 If either party finds it necessary to undertake legal action against the other on account of failure of performance due under this
Agreement, then the prevailing party is entitled to reasonable attorney’s fees in addition to costs and necessary disbursements. 
 24.
GOVERNING LAWS  
 24.1 This Agreement will be interpreted and construed in accordance with the laws of the State
of California, but the scope and validity of any patent or patent application will be governed by the applicable laws of the country of the patent or patent application. 
 25. PREFERENCE FOR UNITED STATES INDUSTRY 
 25.1 AviGenics agrees to
use reasonable efforts to cause Licensed Products sold in the U.S. (“U.S. Licensed Products”) to be manufactured substantially in the United States. However, if reasonable business practices suggest that U.S. Licensed Products should be
manufactured elsewhere, AviGenics may have them manufactured in a country other than the United States. AviGenics’s reasonable business decision to manufacture U.S. Licensed Product outside the United States shall not be grounds to terminate
this Agreement. 
 26. GOVERNMENT APPROVAL OR REGISTRATION 

26.1 AviGenics shall notify Pangenix if it becomes aware that this Agreement is subject to any U.S. or foreign government reporting or
approval requirement. AviGenics shall make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval process. 

27. EXPORT CONTROL LAWS  
 27.1 AviGenics shall observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries, including, without limitation,
the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. 

  
 14 

 28. SECRECY 
 28.1 With regard to confidential information (“Data”), which must be in writing and marked at the top of each page thereof with the legend “CONFIDENTIAL” to be considered confidential
information, received by either party from the other, recipient agrees: 
 (a) not to use the Data except for the
sole purpose of performing under the terms of this Agreement; 
 (b) to safeguard Data against disclosure to
others with the same degree of care as it exercises with its own data of a similar nature; 
 (c) not to disclose
Data to others (except to its employees, agents or consultants who are bound to it by a like obligation of confidentiality) without the express written permission of the disclosing party; except that the recipient is not prevented from using or
disclosing any of the Data that: 
 (i) it can demonstrate by written records was previously known to it;

 (ii) is now, or becomes in the future, public knowledge other than through acts or omissions of the recipient;
or 
 (iii) is lawfully obtained by the recipient from sources independent of the other party; or 

(iv) is disclosed to another party by the disclosing party without an obligation of confidentiality similar to the
obligation set forth in this provision; and 
 (d) that the secrecy obligations with respect to Data will
continue for a period ending five (5) years from the termination date of this Agreement. 
 28.2 With regard to biological
material received by AviGenics from Pangenix, if any, including any cell lines, vectors, plasmids, genetic material, derivatives, products progeny or material derived therefrom (“Biological Material”), AviGenics agrees: 

(a) not to use Biological Material except for the sole purpose of performing under the terms of this Agreement;

 (b) not to transfer Biological Material to others (except to its employees, agents or consultants who are
bound to AviGenics by like obligations, conditioning and restricting access, use and continued use of Biological Material) without the express written permission of Pangenix, except that AviGenics is not prevented from transferring Biological
Material that: 
 (i) becomes publicly available other than through acts or omissions of AviGenics, or

  
 15 

 (ii) is lawfully obtained by AviGenics from sources independent of Pangenix;

 (c) to safeguard Biological Material against disclosure and transmission to others with the same degree of
care as it exercises with its own biological materials of a similar nature; 
 (d) to destroy all copies of
Biological Material at the termination of this Agreement. 
 29. NEW DEVELOPMENTS  

29.1 This Agreement provides no rights to developments, improvements or inventions not included in Patent Rights. Neither party has an
obligation to disclose or grant rights to any such developments, improvements or inventions to the other party. 
 29.2 Pangenix
agrees that it shall have no rights to any developments, improvements, inventions or other work product resulting from activities by any Pangenix employee or agent during the time that such employee or agent may be performing consulting work for
AviGenics. Pangenix agrees to assign to AviGenics all rights which could be asserted by Pangenix to such work product created by Pangenix employees or agents. Dr. Jane Burns is specifically identified as a Pangenix employee. 

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

30.2 This Agreement is not binding on the parties until it has been signed below on behalf of each party. It is then effective as of the
Effective Date. 
 30.3 No amendment or modification of this Agreement is valid or binding on the parties unless made in writing
and signed on behalf of each party. 
 30.4 This Agreement embodies the entire understanding of the parties and supersedes all
previous communications, representations or understandings, either oral or written, between the parties relating to the subject matter hereof. 
 30.5 In case any of the provisions contained in this Agreement is held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality or unenforceability will not affect any other
provisions of this Agreement, and this Agreement will be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it. 

  
 16 

 30.6 This Agreement is subject to the provisions of the Master License and shall be
construed accordingly. This Agreement shall be deemed to provide all rights to AviGenics that are available to a sub-licensee under the Master License. AviGenics agrees to perform all activities, which are considered to be generally acceptable and
reasonable and prudent business activities, to enable Pangenix to perform its obligations under the Master License, as those activities by AviGenics are reasonably necessary in accordance with the benefits received by AviGenics under this Agreement.
The parties agree to amend any provision of this Agreement which is non-conforming to the Master License, including any amendment which may be reasonably required by The Regents to allow The Regents to accept assignment of this Agreement under
Article 3.3 of the Master License. 
 Pangenix and AviGenics have executed this Agreement, in duplicate originals, by their respective and duly
authorized officers. 
  

									
	PANGENIX	 	 	 	 AviGenics Inc.

				
	By:	 	  
	 		 	  

				
		 	(Signature)	 		 	    (Signature)
					
	Name:	 	  
	 		 	Name:	 	  

				
		 	(Please Print)	 		 	    (Please Print)
					
	Title:	 	  
	 		 	Title:	 	  

					
	Date:	 	  
	 		 	Date:	 	  

  
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