Document:

EX-10.3

 Exhibit 10.3 

PRINCIPIA BIOPHARMA INC. 

AMENDED AND RESTATED 

2008 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

Pursuant to its Amended and Restated 2008 Equity Incentive Plan, as amended from time to time (the “Plan”), Principia
Biopharma Inc., a Delaware corporation (the “Company”), hereby grants to the Optionee listed below (“Optionee”), an option to purchase the number of shares of the Company’s Common Stock set forth
below, subject to the terms and conditions of the Plan and this Stock Option Agreement (this “Option Agreement”). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this
Option Agreement. 
 I. NOTICE OF STOCK OPTION GRANT 

 

			
	Optionee:	  	  

		
	Date of Option Agreement:	  	  

		
	Date of Grant:	  	  

		
	Vesting Start Date:	  	  

		
	Exercise Price per Share:	  	  

		
	Total Number of Shares Granted:	  	  

		
	Total Exercise Price:	  	  

		
	Term/Expiration Date:	  	  

 

			
	Type of Option:	  	☐ Incentive Stock Option*             ☐ Non-Qualified Stock Option
		
	Exercise Schedule:	  	☐ Same as Vesting Schedule          ☒ Early Exercise Permitted
		
	Vesting Schedule:	  	The Shares subject to this Option shall vest according to the following schedule: Twenty-five percent (25%) of the Shares subject to the Option (rounded down to the next whole number of shares) shall vest on the first anniversary of
the Vesting Start Date and 1/48th of the Shares subject to the Option shall vest monthly thereafter so that one hundred percent (100%) of the Shares subject to the Option are vested on the fourth
anniversary of the Vesting Start Date, subject to the Optionee remaining a Service Provider through each such vesting date (unless

  
 1. 

			
		
		  	otherwise determined by the Administrator). If, on or within 12 months following a Change in Control (as defined in the optionee’s offer letter with the Company), the optionee’s employment is terminated by the Company
other than for Cause (as defined in the optionee’s offer letter with the Company) or by the optionee other than for Good Reason (as defined in the optionee’s offer letter with the Company), then all outstanding shares subject to the option
shall vest in full.
		
	Termination Period:	  	This Option may be exercised, to the extent vested, for three (3) months after Optionee ceases to be a Service Provider, or such longer period as may be applicable upon the death or Disability of Optionee as provided herein
(or, if not provided herein, then as provided in the Plan), but in no event later than the Term/Expiration Date as set forth above.

 * Options shall be considered incentive stock options to the extent permissible under law, with the remaining portion to be
nonqualified stock options. 
 II. AGREEMENT 

1. Grant of Option. The Company hereby grants to the Optionee an Option to purchase the number of shares of Common Stock (the
“Shares”) set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”). Notwithstanding anything to the contrary anywhere else in this
Option Agreement, this grant of an Option is subject to the terms, definitions and provisions of the Plan, which is incorporated herein by reference. 

If designated in the Notice of Grant as an Incentive Stock Option, this Option is intended to qualify as an Incentive Stock Option as defined
in Section 422 of the Code; provided, however, that to the extent that the aggregate Fair Market Value of the Common Stock with respect to which Incentive Stock Options (within the meaning of Code Section 422, but without regard to
Code Section 422(d)), including the Option, are exercisable for the first time by Optionee during any calendar year (under the Plan and all other incentive stock option plans of the Company (or any “parent corporation” or
“subsidiary corporation” thereof within the meaning of Code Sections 424(e) or 424(f), respectively)) exceeds $100,000, such options shall be treated as not qualifying under Code Section 422, but rather shall be treated as Non-Qualified Stock Options to the extent required by Code Section 422. The rule set forth in the preceding sentence shall be applied by taking options into account in the order in which they were granted. For
purposes of these rules, the Fair Market Value of the Common Stock shall be determined as of the time the option with respect to such stock is granted. 

2. Exercise of Option. This Option is exercisable as follows: 

(a) Right to Exercise. 

  
 2. 

 (i) This Option shall be exercisable cumulatively according to the vesting schedule set
out in the Notice of Grant. For purposes of this Option Agreement, Shares subject to this Option shall vest based on Optionee’s continued status as a Service Provider, unless otherwise determined by the Administrator. 

(ii) This Option may not be exercised for a fraction of a Share. 

(iii) In the event of Optionee’s death, Disability or other termination of the Optionee’s status as a Service Provider, the
exercisability of the Option shall be governed by Sections 7, 8 and 9 hereof. 
 (iv) In the event the exercise of the Option
following the termination of the Optionee’s status as a Service Provider would be prohibited at any time solely because the issuance of shares would violate the registration requirements under the Securities Act of 1933, as amended (the
“Securities Act”), then the Option shall terminate on the earlier of (i) the Term/Expiration Date of the Option as set forth in the Notice of Grant or (ii) the expiration of a period of three (3) months after
the termination of the Optionee’s status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements. 

(v) In no event may this Option be exercised after the Term/Expiration Date of this Option as set forth in the Notice of Grant. 

(b) Method of Exercise. 

(i) This Option shall be exercisable by written notice to the Company (in the form attached as Exhibit A) (the
“Exercise Notice”), or, if early exercise is permitted in the Notice of Grant, pursuant to an Early Exercise Stock Purchase Agreement (in the form attached as Exhibit C) (the “Early Exercise
Agreement”). The Exercise Notice shall state the number of Shares for which the Option is being exercised, and such other representations and agreements with respect to such Shares of Common Stock as may be required by the Company
pursuant to the provisions of the Plan. The Exercise Notice shall be signed by Optionee and shall be delivered in person or by certified mail to the Secretary of the Company or such other authorized representative of the Company. 

(ii) The Exercise Notice (or Early Exercise Agreement, if applicable) shall be accompanied by payment of the Exercise Price, including
payment of any applicable withholding tax. 
 (iii) Any Shares issuable upon exercise of this Option shall be subject to the
Company’s standard Voting Agreement, as may be amended from time to time (the “Voting Agreement”). As a condition to exercise, Optionee shall have executed, as a Common Holder, a copy of the Voting Agreement, and such
Voting Agreement shall remain in effect for so long as any Shares issued hereunder remain outstanding. The terms of the Voting Agreement are incorporated herein by this reference. 

(iv) No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with all relevant
provisions of law and the requirements of any stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Optionee on the date on which the Option is
exercised with respect to such Shares. 

  
 3. 

 3. Optionee’s Representations. If the Shares purchasable pursuant to the exercise of
this Option have not been registered under the Securities Act, at the time this Option is exercised, Optionee shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or her
Investment Representation Statement in the form attached hereto as Exhibit B. 
 4. Lock-Up
Period. Optionee hereby agrees that if so requested by the Company or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the
Company under the Securities Act, Optionee shall not sell or otherwise transfer any Shares or other securities of the Company during the 180-day period (or such longer period as may be requested in writing by
the Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company filed under the Securities Act; provided,
however, that such restriction shall apply only to the first registration statement of the Company to become effective under the Securities Act that includes securities to be sold on behalf of the Company to the public in an underwritten public
offering under the Securities Act.    The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period and these restrictions shall be
binding on any transferee of such Shares. Notwithstanding the foregoing, the 180-day period may be extended for up to such number of additional days as is deemed necessary by the Company or the Managing
Underwriter to continue coverage by research analysts in accordance with NASD Rule 2711 or any successor rule. 
 5. Method of Payment.
Payment of the Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
 (a)
cash; 
 (b) check; 

(c) with the consent of the Administrator, a full recourse promissory note bearing interest (at no less than such rate as is a market
rate of interest and which then precludes the imputation of interest under the Code), payable upon such terms as may be prescribed by the Administrator and structured to comply with Applicable Laws; 

(d) with the consent of the Administrator, surrender of other Shares of Common Stock of the Company which have a Fair Market Value on
the date of surrender equal to the Exercise Price of the Shares as to which the Option is being exercised; 
 (e) with the consent of
the Administrator, surrendered Shares issuable upon the exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate Exercise Price of the Option or exercised portion thereof; 

(f) with the consent of the Administrator, property of any kind which constitutes good and valuable consideration; 

  
 4. 

 (g) following the Public Trading Date, with the consent of the Administrator, delivery of
a notice that the Optionee has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company
in satisfaction of the aggregate Exercise Price; provided, that payment of such proceeds is then made to the Company upon settlement of such sale; or 

(h) with the consent of the Administrator, any combination of the foregoing methods of payment. 

6. Restrictions on Exercise. This Option may not be exercised until the Plan has been approved by the stockholders of the Company. If
the issuance of Shares upon such exercise or if the method of payment for such Shares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may
require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised. 

7. Termination of Relationship. If Optionee ceases to be a Service Provider (other than by reason of Optionee’s death or
Disability), Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested on the date on which Optionee ceases to be a Service Provider. To the extent that the Option is not
vested on the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate. 

8. Disability of Optionee. If Optionee ceases to be a Service Provider as a result of his or her Disability, Optionee may exercise the
Option to the extent the Option was vested at the date on which Optionee ceases to be a Service Provider, but only within twelve (12) months from such date (and in no event later than the expiration date of the term of this Option as set forth
in the Notice of Grant). To the extent that the Option is not vested at the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise such Option within the time specified herein, the Option shall terminate. 

9. Death of Optionee. If Optionee ceases to be a Service Provider as a result of the death of Optionee, the vested portion of the Option
may be exercised at any time within twelve (12) months following the date of death (and in no event later than the expiration date of the term of this Option as set forth in the Notice of Grant) by Optionee’s estate or by a person who
acquires the right to exercise the Option by bequest or inheritance. To the extent that the Option is not vested on the date of death, or if the Option is not exercised within the time specified herein, the Option shall terminate. 

10. Non-Transferability of Option. This Option may not be transferred in any manner except by
will or by the laws of descent or distribution. It may be exercised during the lifetime of Optionee only by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 

11. Term of Option. This Option may be exercised only within the term set out in the Notice of Grant. 

  
 5. 

 12. Restrictions on Shares. Optionee hereby agrees that Shares purchased upon the exercise
of the Option shall be subject to such terms and conditions as the Administrator shall determine in its sole discretion, including, without limitation, restrictions on the transferability of Shares, and a right of first refusal in favor of the
Company with respect to permitted transfers of Shares. Such terms and conditions may, in the Administrator’s sole discretion, be contained in the Exercise Notice (or Early Exercise Agreement, if applicable) with respect to the Option or in such
other agreement as the Administrator shall determine and which the Optionee hereby agrees to enter into at the request of the Company. For the avoidance of doubt, as a condition to exercise, the Administrator may require, in its sole discretion,
that Optionee execute as a Common Holder or otherwise agree to be bound as a Common Holder by the Company’s standard First Refusal and Co-Sale Agreement, as such agreement may be amended from time to
time. 
 13. Rules Particular To Specific Countries. 

(a) Generally. Optionee shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form
approved by the Company) under which any liability to the Company’s (or a Subsidiary’s) Tax Liability, including, but not limited to, National Insurance Contributions (“NICs”) and the Fringe Benefit Tax
(“FBT”), is transferred to and met by Optionee. For purposes of this Section 13, Tax Liability shall mean any and all liability under non-U.S. applicable laws, rules or regulations
from any income tax, the Company’s (or a Subsidiary’s) NICs, FBT or similar liability and the Optionee’s NICs, FBT or similar liability that are attributable to: (A) the grant or exercise of, or any other benefit derived by the
Optionee from the Option; (B) the acquisition by Optionee of the Shares on exercise of the Option; or (C) the disposal of any Shares acquired upon exercise of the Option. 

(b) Tax Indemnity. Optionee shall indemnify and keep indemnified the Company and any of its Subsidiaries from and against any Tax
Liability. 
 [Signature Page Follows] 

  
 6. 

 This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original and all of which shall constitute one document. 
  

			
	PRINCIPIA BIOPHARMA INC.
		
	By:	 	  

		 	Martin Babler
		 	President and Chief Executive Officer

 OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE OPTION HEREOF IS EARNED ONLY
BY CONTINUING CONSULTANCY OR EMPLOYMENT AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE
COMPANY’S AMENDED AND RESTATED 2008 EQUITY INCENTIVE PLAN, AS AMENDED FROM TIME TO TIME, WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY THE COMPANY,
NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S EMPLOYMENT OR CONSULTANCY AT ANY TIME, WITH OR WITHOUT CAUSE AND WITH OR WITHOUT PRIOR NOTICE. 

Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof. Optionee
hereby accepts this Option subject to all of the terms and provisions hereof. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully
understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Option. Optionee further agrees to
notify the Company upon any change in the residence address indicated below. 
  

							
	 Dated:
                        
	 		 		 	  

		 		 		 	 OPTIONEE

				
		 		 		 	 Residence Address:

				
		 		 		 	  

		 		 		 	  

  

SIGNATURE PAGE TO PRINCIPIA BIOPHARMA INC.
STOCK OPTION AGREEMENT 

 EXHIBIT A 

PRINCIPIA BIOPHARMA INC. 

AMENDED AND RESTATED 

2008 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 
 Principia Biopharma Inc.

 Attention: Stock Administration 
 1.
Exercise of Option. Effective as of today,                     ,
                    , the undersigned (“Optionee”) hereby elects to exercise Optionee’s option to purchase
                    shares of the Common Stock (the “Shares”) of Principia Biopharma Inc., a Delaware corporation (the
“Company”), under and pursuant to the Principia Biopharma Inc. Amended and Restated 2008 Equity Incentive Plan, as amended from time to time (the “Plan”) and the Stock Option Agreement dated
                    (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings given
in the Option Agreement. 
  

					
	Date of Grant:	 		  	  

			
	Number of Shares as to which Option is Exercised:	 		  	  

			
	Exercise Price per Share:	 		  	$__________
			
	Total Exercise Price:	 		  	$__________
			
	Certificate to be issued in name of:	 		  	  

			
	Cash Payment delivered herewith:	 	☐	  	$__________
			
	Other form of consideration delivered herewith (only if approved by the Administrator)	 	☐	  	 Form of Consideration:

$__________

  

					
	Type of Option:	  	☐ Incentive Stock Option	  	☐ Non-Qualified Stock Option

 2. Representations of Optionee. Optionee acknowledges that Optionee has received, read and understood
the Plan and the Option Agreement. Optionee agrees to abide by and be bound by their terms and conditions. 

 3. Rights as Stockholder. Until the stock certificate evidencing Shares purchased pursuant
to the exercise of the Option is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist
with respect to Shares subject to the Option, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 13 of the Plan. 

Optionee shall enjoy rights as a stockholder until such time as Optionee disposes of the Shares or the Company and/or its assignee(s)
exercises the Right of First Refusal (as defined below) hereunder. Upon such exercise, Optionee shall have no further rights as a holder of the Shares so purchased except the right to receive payment for the Shares so purchased in accordance with
the provisions of this Agreement, and Optionee shall forthwith cause the certificate(s) evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation. 

4. Optionee’s Rights to Transfer Shares. 

(a) Company’s Right of First Refusal. Before any Shares held by Optionee or any permitted transferee (each, a
“Holder”) may be sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall have a right of first refusal to purchase the
Shares proposed to be Transferred on the terms and conditions set forth in this Section 4 (the “Right of First Refusal”). 

(i) Notice of Proposed Transfer. In the event any Holder desires to Transfer any Shares, the Holder shall deliver to the Company a
written notice (the “Notice”) stating: (w) the Holder’s bona fide intention to sell or otherwise Transfer such Shares; (x) the name of each proposed purchaser or other transferee (“Proposed
Transferee”); (y) the number of Shares to be Transferred to each Proposed Transferee; and (z) the bona fide cash price or other consideration for which the Holder proposes to Transfer the Shares (the “Offered
Price”), and the Holder shall offer such Shares at the Offered Price to the Company or its assignee(s). 
 (ii) Exercise of
Right of First Refusal. Within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may elect in writing to purchase all, but not less than all, of the Shares proposed to be Transferred to any one or more of the
Proposed Transferees. The purchase price shall be determined in accordance with Section 4(a)(iii) hereof. 
 (iii) Purchase Price.
The purchase price (“Purchase Price”) for the Shares repurchased under this Section 4 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board in good faith. 
 (iv) Payment. Payment of
the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to
the assignee), or by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times mutually agreed to by the Company and the Holder. 

  
 2. 

 (v) Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be
Transferred are not purchased by the Company and/or its assignee(s) as provided in this Section 4, then the Holder may sell or otherwise Transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that
such sale or other Transfer is consummated within one hundred twenty (120) days after the date of the Notice and provided further that any such sale or other Transfer is effected in accordance with any applicable securities laws and the
Proposed Transferee agrees in writing that the provisions of this Section 4 and the Restricted Stock Purchase Agreement, if applicable, shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in
the Notice are not Transferred to the Proposed Transferee within such 120-day period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First
Refusal as provided herein before any Shares held by the Holder may be sold or otherwise Transferred. 
 (b) Exception for Certain Family
Transfers. Anything to the contrary contained in this Section 4 notwithstanding, the Transfer of any or all of the Shares during the Optionee’s lifetime or upon the Optionee’s death by will or intestacy to the Optionee’s
Immediate Family or a trust for the benefit of the Optionee’s Immediate Family shall be exempt from the Right of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent,
father, mother, brother or sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall receive and hold the Shares so Transferred subject to the provisions of this Section 4 (including the Right of First
Refusal) and the Restricted Stock Purchase Agreement, if applicable, and there shall be no further Transfer of such Shares except in accordance with the terms of this Section 4. 

(c) Termination of Right of First Refusal. The Right of First Refusal shall terminate as to all Shares upon a sale of Common Stock of
the Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended (a “Public Offering”). 

5. Voting Agreement. As a condition to exercise, Optionee shall have executed, as a Common Holder, a copy of the Company’s standard
Voting Agreement, as may be amended from time to time (the “Voting Agreement”), and such Voting Agreement shall remain in effect for so long as any Shares issued hereunder remain outstanding unless terminated earlier pursuant
to its terms. 
 6. Transfer Restrictions. Any transfer or sale of the Shares is subject to restrictions on transfer imposed by any
applicable state and federal securities laws. Any Transfer or attempted Transfer of any of the Shares not in accordance with the terms of this Agreement, including the Right of First Refusal provided in this Agreement, shall be void and the Company
may enforce the terms of this Agreement by stop transfer instructions or similar actions by the Company and its agents or designees. 
 7.
Tax Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee
deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. 

  
 3. 

 8. Restrictive Legends and Stop-Transfer Orders. 

(a) Legends. Optionee understands and agrees that the Company shall cause the legends set forth below or legends substantially
equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS
IN COMPLIANCE THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A VOTING AGREEMENT AND CERTAIN RESTRICTIONS ON TRANSFER
AND RIGHT OF FIRST REFUSAL OPTIONS HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH
VOTING AGREEMENT AND THE TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 (b) Stop-Transfer
Notices. Optionee agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its
own securities, it may make appropriate notations to the same effect in its own records. 
 (c) Refusal to Transfer. The Company shall
not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay
dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 
 9. Successors and Assigns. The
Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this
Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns. 
 10. Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Company’s Board of Directors or committee thereof that is responsible for the administration of the Plan (the
“Administrator”), which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on the Company and on Optionee. 

  
 4. 

 11. Governing Law; Severability. This Agreement shall be governed by and construed in
accordance with the laws of the State of California excluding that body of law pertaining to conflicts of law. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall
nevertheless remain effective and shall remain enforceable. 
 12. Notices. Any notice required or permitted hereunder shall be given
in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or
to such other address as such party may designate in writing from time to time to the other party. 
 13. Further Instruments. The
Optionee hereby agrees to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement including, without limitation, the Investment Representation Statement
in the form attached to the Option Agreement as Exhibit B. 
 14. Delivery of Payment. The Optionee herewith delivers to the
Company the full Exercise Price for the Shares, as well as any applicable withholding tax. 
 15. Entire Agreement. The Plan, the
Voting Agreement and the Option Agreement are incorporated herein by reference. This Agreement, the Plan, the Voting Agreement, the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties and
supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof. 
  

									
	Accepted by:	  		  	Submitted by:
			
	PRINCIPIA BIOPHARMA INC.	  		  	OPTIONEE
				
	By:	  	  
	  		  	  

		  	Martin Babler	  		  	Optionee
		  	President and Chief Executive Officer	  		  		  	
					
		  		  		  	Address:	  	  

		  		  		  		  	  

  
 5. 

 EXHIBIT B 

INVESTMENT REPRESENTATION STATEMENT 
  

							
	 OPTIONEE
	  	 	:	 	  	
			
	 COMPANY
	  	 	:	 	  	 Principia Biopharma Inc.

			
	 SECURITY
	  	 	:	 	  	 Common Stock

			
	 AMOUNT
	  	 	:	 	  	
			
	 DATE
	  	 	:	 	  	

 In connection with the purchase of the above-listed shares of Common Stock (the
“Securities”) of Principia Biopharma Inc., a Delaware corporation (the “Company”), the undersigned (the “Optionee”) represents to the Company the following: 

(a) Optionee is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the
Company to reach an informed and knowledgeable decision to acquire the Securities. Optionee is acquiring these Securities for investment for Optionee’s own account only and not with a view to, or for resale in connection with, any
“distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b) Optionee acknowledges and understands that the Securities constitute “restricted securities” under the
Securities Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee’s investment intent as expressed herein.
Optionee understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Optionee’s representation was predicated solely upon a present intention to hold these Securities for
the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year or any other fixed period in the future. Optionee further
understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands that the Company is under
no obligation to register the Securities. Optionee understands that the certificate evidencing the Securities will be imprinted with a legend which prohibits the transfer of the Securities unless they are registered or such registration is not
required in the opinion of counsel satisfactory to the Company and any other legend required under applicable securities laws or agreements. 

(c) Optionee is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act, which, in substance,
permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions. Rule 701
provides that if the issuer qualities under Rule 701 at the time of the grant of the Option to Optionee, the exercise will be 

 
exempt from registration under the Securities Act. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may under
present law be resold, subject to the satisfaction of certain of the conditions specified by Rule 144, including: (1) the resale being made through a broker in an unsolicited “broker’s transaction” or in transactions directly
with a market maker (as this term is defined under the Exchange Act); and, in the case of an affiliate, (2) the availability of certain public information about the Company, (3) the amount of Securities being sold during any three
(3) month period not exceeding the limitations specified in Rule 144(e), and (4) the timely filing of a Form 144, if applicable. 

In the event that the Company does not qualify under Rule 701 at the time of grant of the Option, then the Securities may be resold in certain
limited circumstances subject to the provisions of Rule 144, which, effective as of February 15, 2008, requires the resale to occur not less than six months, or, in the event the Company is not subject to the reporting requirements of
Section 13 or 15(d) of the Securities Exchange Act of 1934, not less than one year, after the later of the date the Securities were sold by the Company or the date the Securities were sold by an affiliate of the Company, within the meaning of
Rule 144; and, in the case of acquisition of the Securities by an affiliate, the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the paragraph immediately above or, in the case of a
non-affiliate who subsequently holds the Securities less than one year, the satisfaction of the conditions set forth in section (2) of the paragraph immediately above. 

(d) Optionee further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration
under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has
expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. Optionee understands that no assurances can be given that any such other
registration exemption will be available in such event. 
  

	
	Signature of Optionee:
	
	  

	Optionee

 Date: __________, ____ 

  
 2. 

 EXHIBIT C 

PRINCIPIA BIOPHARMA INC. 

EARLY EXERCISE STOCK PURCHASE AGREEMENT 

UNDER THE PRINCIPIA BIOPHARMA INC. 

2008 AMENDED AND RESTATED EQUITY INCENTIVE PLAN

 THIS AGREEMENT is made by and between PRINCIPIA
BIOPHARMA INC., a Delaware corporation (the “Company”), and                     
(“Purchaser”). 
 WITNESSETH: 

WHEREAS, Purchaser holds a stock option dated
                     to purchase shares of common stock (“Common Stock”) of the Company (the
“Option”) pursuant to the Company’s 2008 Amended and Restated Equity Incentive Plan (the “Plan”); and 

WHEREAS, the Option consists of a Stock Option Grant Notice and a Stock Option Agreement; and 

WHEREAS, Purchaser desires to exercise the Option on the terms and conditions contained herein; and 

WHEREAS, Purchaser wishes to take advantage of the early exercise provision of Purchaser’s Option and therefore to
enter into this Agreement; 
 NOW, THEREFORE, IT IS
AGREED between the parties as follows: 
 1. INCORPORATION OF
PLAN AND OPTION BY REFERENCE. This Agreement is subject to all of the terms and conditions as set forth in the Plan and the Option. If there is a conflict between the
terms of this Agreement and/or the Option and the terms of the Plan, the terms of the Plan shall control. If there is a conflict between the terms of this Agreement and the terms of the Option, the terms of the Option shall control. Defined terms
not explicitly defined in this Agreement but defined in the Plan shall have the same definitions as in the Plan. Defined terms not explicitly defined in this Agreement or the Plan but defined in the Option shall have the same definitions as in the
Option. 
 2. PURCHASE AND SALE OF COMMON STOCK.

 (a) Agreement to purchase and sell Common Stock. Purchaser hereby agrees to purchase from the Company, and the Company
hereby agrees to sell to Purchaser, shares of the Common Stock of the Company in accordance with the Notice of Exercise duly executed by Purchaser and attached hereto as Exhibit A. 

  
 1. 

 (b) Closing. The closing hereunder, including payment for and delivery of the Common
Stock, shall occur at the offices of the Company immediately following the execution of this Agreement, or at such other time and place as the parties may mutually agree; provided, however, that if stockholder approval of the Plan is required
before the Option may be exercised, then the Option may not be exercised, and the closing shall be delayed, until such stockholder approval is obtained. If such stockholder approval is not obtained within the time limit specified in the Plan, then
this Agreement shall be null and void. 
 3. UNVESTED SHARE REPURCHASE OPTION.

 (a) Repurchase Option. In the event Purchaser’s Continuous Service terminates, then the Company shall have an irrevocable
option (the “Repurchase Option”) for a period of six (6) months after said termination (or in the case of shares issued upon exercise of the Option after such date of termination, within six (6) months after the
date of the exercise), or such longer period as may be agreed to by the Company and Purchaser, to repurchase from Purchaser or Purchaser’s personal representative, as the case may be, those shares that Purchaser received pursuant to the
exercise of the Option that have not as yet vested as of such termination date in accordance with the Vesting Schedule indicated on Purchaser’s Stock Option Grant Notice (the “Unvested Shares”). 

(b) Share Repurchase Price.    The Company may repurchase all or any of the Unvested Shares at the lower of
(i) the Fair Market Value of the such shares (as determined under the Plan) on the date of repurchase, or (ii) the price equal to Purchaser’s Exercise Price for such shares as indicated on Purchaser’s Stock Option Grant
Notice. 
 4. EXERCISE OF REPURCHASE
OPTION. The Repurchase Option shall be exercised by written notice signed by such person as designated by the Company, and delivered or mailed as provided herein. Such notice shall identify the number
of shares of Common Stock to be purchased and shall notify Purchaser of the time, place and date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option set forth above. The Company shall be
entitled to pay for any shares of Common Stock purchased pursuant to its Repurchase Option at the Company’s option in cash or by offset against any indebtedness owing to the Company by Purchaser (including without limitation any Promissory Note
given in payment for the Common Stock), or by a combination of both. Upon delivery of such notice and payment of the purchase price in any of the ways described above, the Company shall become the legal and beneficial owner of the Common Stock being
repurchased and all rights and interest therein or related thereto, and the Company shall have the right to transfer to its own name the Common Stock being repurchased by the Company, without further action by Purchaser. 

5. CAPITALIZATION ADJUSTMENTS TO COMMON STOCK.
In the event of a Capitalization Adjustment, then any and all new, substituted or additional securities or other property to which Purchaser is entitled by reason of Purchaser’s ownership of Common Stock shall be immediately subject to the
Repurchase Option and be included in the word “Common Stock” for all purposes of the Repurchase Option with the same force and effect as the shares of the Common Stock presently subject to the Repurchase Option, but only to the extent the
Common Stock is, at the time, covered by such Repurchase Option. While the total Option Price shall remain the same after each such event, the Option Price per share of Common Stock upon exercise of the Repurchase Option shall be appropriately
adjusted. 

  
 2. 

 6. CORPORATE TRANSACTIONS. In the event of a
Corporate Transaction, then the Repurchase Option may be assigned by the Company to the successor of the Company (or such successor’s parent company), if any, in connection with such Corporate Transaction. To the extent the Repurchase Option
remains in effect following such Corporate Transaction, it shall apply to the new capital stock or other property received in exchange for the Common Stock in consummation of the Corporate Transaction, but only to the extent the Common Stock was at
the time covered by such right. Appropriate adjustments shall be made to the price per share payable upon exercise of the Repurchase Option to reflect the Corporate Transaction upon the Company’s capital structure; provided, however,
that the aggregate price payable upon exercise of the Repurchase Option shall remain the same. 
 7. ESCROW
OF UNVESTED COMMON STOCK. As security for Purchaser’s faithful performance of the terms of this Agreement and to insure the availability for delivery
of Purchaser’s Common Stock upon exercise of the Repurchase Option herein provided for, Purchaser agrees, at the closing hereunder, to deliver to and deposit with the Secretary of the Company or the Secretary’s designee (“Escrow
Agent”), as Escrow Agent in this transaction, three (3) stock assignments duly endorsed (with date and number of shares blank) in the form attached hereto as Exhibit B, together with a certificate or certificates evidencing all of
the Common Stock subject to the Repurchase Option; said documents are to be held by the Escrow Agent and delivered by said Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Purchaser set forth in Exhibit C, attached hereto
and incorporated by this reference, which instructions also shall be delivered to the Escrow Agent at the closing hereunder. 
 8.
RIGHTS OF PURCHASER. Subject to the provisions of the Option, Purchaser shall exercise all rights and privileges of a stockholder of the Company with respect to the
shares deposited in escrow. Purchaser shall be deemed to be the holder of the shares for purposes of receiving any dividends that may be paid with respect to such shares and for purposes of exercising any voting rights relating to such shares, even
if some or all of such shares have not yet vested and been released from the Company’s Repurchase Option. 
 9.
LIMITATIONS ON TRANSFER. In addition to any other limitation on transfer created by applicable securities laws, Purchaser shall not sell, assign, hypothecate,
donate, encumber or otherwise dispose of any interest in the Common Stock while the Common Stock is subject to the Repurchase Option. After any Common Stock has been released from the Repurchase Option, Purchaser shall not sell, assign, hypothecate,
donate, encumber or otherwise dispose of any interest in the Common Stock except in compliance with the provisions herein and applicable securities laws. Furthermore, the Common Stock shall be subject to any right of first refusal in favor of the
Company or its assignees that may be contained in the Company’s Bylaws. 
 10. RESTRICTIVE
LEGENDS. All certificates representing the Common Stock shall have endorsed thereon legends in substantially the following forms (in addition to any other legend which may be required by other
agreements between the parties hereto): 
 (a) “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN OPTION SET FORTH IN
AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS COMPANY. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH OPTION IS
VOID WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.” 

  
 3. 

 (b) “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
SUCH REGISTRATION IS NOT REQUIRED.” 
 (c) Any legend required by appropriate blue sky officials. 

11. INVESTMENT REPRESENTATIONS. In connection with the purchase of the Common Stock, Purchaser
represents to the Company the following: 
 (a) Purchaser is aware of the Company’s business affairs and financial condition and
has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Common Stock. Purchaser is acquiring the Common Stock for investment for Purchaser’s own account only and not with a view to,
or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 
 (b) Purchaser
understands that the Common Stock has not been registered under the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Purchaser’s investment intent as expressed
herein. 
 (c) Purchaser further acknowledges and understands that the Common Stock must be held indefinitely unless the Common Stock
is subsequently registered under the Securities Act or an exemption from such registration is available. Purchaser further acknowledges and understands that the Company is under no obligation to register the Common Stock. Purchaser understands that
the certificate evidencing the Common Stock will be imprinted with a legend that prohibits the transfer of the Common Stock unless the Common Stock is registered or such registration is not required in the opinion of counsel for the Company. 

(d) Purchaser is familiar with the provisions of Rules 144 and 701, under the Securities Act, as in effect from time to time,
which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof (or from an affiliate of such issuer), in a non-public offering
subject to the satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the time of issuance of the securities, such issuance will be exempt from registration under the Securities Act. In the event the
Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the securities exempt under Rule 701 may be sold by Purchaser ninety (90) days thereafter, subject to the
satisfaction of certain of the conditions specified by Rule 144 and the market stand-off provision described in Purchaser’s Stock Option Agreement. 

(e) In the event that the sale of the Common Stock does not qualify under Rule 701 at the time of purchase, then the Common Stock
may be resold by Purchaser in certain limited circumstances subject to the provisions of Rule 144, which requires, among other things: (i) the availability of certain public information about the Company, and (ii) the resale occurring
following the required holding period under Rule 144 after Purchaser has purchased, and made full payment of (within the meaning of Rule 144), the securities to be sold. 

  
 4. 

 (f) Purchaser further understands that at the time Purchaser wishes to sell the Common
Stock there may be no public market upon which to make such a sale, and that, even if such a public market then exists, the Company may not be satisfying the current public current information requirements of Rule 144 or 701, and that, in such
event, Purchaser would be precluded from selling the Common Stock under Rule 144 or 701 even if the minimum holding period requirement had been satisfied. 

12. MARKET STAND-OFF AGREEMENT.
By exercising the Option, Purchaser agrees not to sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of
Common Stock or other securities of the Company held by Purchaser, for a period of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as
necessary to permit compliance with NASD Rule 2711 or NYSE Member Rule 472 and similar rules or regulations (the “Lock-Up Period”); provided, however, that nothing shall prevent
the exercise of the Repurchase Option during the Lock-Up Period. Purchaser further agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s)
that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to Purchaser’s shares of Common Stock until
the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 12 and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. 
 13. SECTION 83(b)
ELECTION.    Purchaser understands that Section 83(a) of the Code taxes as ordinary income the difference between the amount paid for the Common Stock and the fair market value of the Common Stock as of
the date any restrictions on the Common Stock lapse. In this context, “restriction” includes the right of the Company to buy back the Common Stock pursuant to the Repurchase Option set forth above. Purchaser understands that Purchaser may
elect to be taxed at the time the Common Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) (an “83(b) Election”) of the Code with the Internal Revenue
Service within thirty (30) days of the date of purchase. Even if the fair market value of the Common Stock at the time of the execution of this Agreement equals the amount paid for the Common Stock, the 83(b) Election must be made to avoid
income under Section 83(a) in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands that Purchaser must file an
additional copy of such 83(b) Election with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges that the foregoing is only a summary of the effect of United States federal
income taxation with respect to purchase of the Common Stock hereunder, and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the applicable provisions of the
Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser’s death. Purchaser assumes all responsibility for filing an 83(b) Election and paying all taxes
resulting from such election or the lapse of the restrictions on the Common Stock. 

  
 5. 

 14. REFUSAL TO
TRANSFER. The Company shall not be required (a) to transfer on its books any shares of Common Stock of the Company which shall have been transferred in violation of any of the provisions set forth
in this Agreement, or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred. 

15. NO EMPLOYMENT RIGHTS. This Agreement is not an
employment contract and nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company or its Affiliates to terminate Purchaser’s employment for any reason at any time, with or without cause and with or
without notice. 
 16. MISCELLANEOUS. 

(a) Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, and if not during normal business hours of the recipient, then on the next business day, (c) five
(5) calendar days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent to the other party hereto at such party’s address hereinafter set forth on the signature page hereof, or at such other address as such party may designate by ten
(10) days advance written notice to the other party hereto. 
 (b) Successors and Assigns. This Agreement shall inure to the
benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be binding upon Purchaser, Purchaser’s successors, and assigns. The Company may assign the Repurchase Option hereunder at any
time or from time to time, in whole or in part. 
 (c) Attorneys’ Fees; Specific Performance. Purchaser shall reimburse the
Company for all costs incurred by the Company in enforcing the performance of, or protecting its rights under, any part of this Agreement, including reasonable costs of investigation and attorneys’ fees. It is the intention of the parties that
the Company, upon exercise of the Repurchase Option and payment for the shares repurchased, pursuant to the terms of this Agreement, shall be entitled to receive the Common Stock, in specie, in order to have such Common Stock available for
future issuance without dilution of the holdings of other stockholders. Furthermore, it is expressly agreed between the parties that money damages are inadequate to compensate the Company for the Common Stock and that the Company shall, upon proper
exercise of the Repurchase Option, be entitled to specific enforcement of its rights to purchase and receive said Common Stock. 
 (d)
Governing Law; Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. The parties agree that any action brought by either party to interpret or enforce any provision of this Agreement
shall be brought in, and each party agrees to, and does hereby, submit to the jurisdiction and venue of, the appropriate state or federal court for the district encompassing the Company’s principal place of business. 

  
 6. 

 (e) Further Execution. The parties agree to take all such further action(s) as may
reasonably be necessary to carry out and consummate this Agreement as soon as practicable, and to take whatever steps may be necessary to obtain any governmental approval in connection with or otherwise qualify the issuance of the securities that
are the subject of this Agreement. 
 (f) Independent Counsel. Purchaser acknowledges that this Agreement has been prepared on behalf
of the Company by Cooley LLP, counsel to the Company and that Cooley LLP does not represent, and is not acting on behalf of, Purchaser. Purchaser has been provided with an opportunity to consult with Purchaser’s own counsel with respect to this
Agreement. 
 (g) Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties with respect to the
subject matter hereof and supersedes and merges all prior agreements or understandings, whether written or oral. This Agreement may not be amended, modified or revoked, in whole or in part, except by an agreement in writing signed by each of the
parties hereto. 
 (h) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law,
the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement,
(ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. 

(i) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument. 
 IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of                    . 
  

			
		  	PRINCIPIA BIOPHARMA INC.
		
		  	By:
                                         
                                         
      
		  	Title:
                                         
                                         
   
		
		  	                                      
                                         
                
		  	Purchaser
		
	Address:	  	  

		  	  

  
 7. 

 ATTACHMENTS: 
  

			
	Exhibit A	  	 Notice of Exercise

	Exhibit B	  	 Assignment Separate from Certificate

	Exhibit C	  	 Joint Escrow Instructions

  
 8. 

 EXHIBIT A 

NOTICE OF EXERCISE 
 Principia Biopharma
Inc. 
 Date of Exercise: _______________ 

Ladies and Gentlemen: 
 This constitutes notice
under my stock option that I elect to purchase the number of shares for the price set forth below. 
  

									
	 Type of option (check one):
	  	 	Incentive  	☐ 	 	 	Nonstatutory 	☐ 
			
	 Stock option dated:
	  				 			
		  	  
	  
	 	 			
			
	 Number of shares as

to which option is

exercised:
	  				 			
		  	  
	  
	 	 			
			
	 Certificates to be

issued in name of:
	  				 			
		  	  
	  
	 	 			
			
	 Total exercise price:
	  	$	______________	 	 			
			
	 Cash payment delivered

herewith:
	  	$	______________	 	 			

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the PRINCIPIA BIOPHARMA INC. 2008 AMENDED AND RESTATED EQUITY INCENTIVE PLAN,
(ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to an incentive stock option, to notify you
in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise of this option that occurs within two (2) years after the date of grant of this option or within one
(1) year after such shares of Common Stock are issued upon exercise of this option. 
 I hereby make the following certifications and
representations with respect to the number of shares of Common Stock of the Company listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option as set forth above: 

I acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act. I warrant and represent to the Company that I have no present intention of distributing or selling
said Shares, except as permitted under the Securities Act and any applicable state securities laws. 

  
 1. 

 I further acknowledge that I will not be able to resell the Shares for at least ninety days
(90) after the stock of the Company becomes publicly traded (i.e., subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934) under Rule 701 and that more restrictive conditions apply to
affiliates of the Company under Rule 144. 
 I further acknowledge that all certificates representing any of the Shares subject to the
provisions of the Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Articles of Incorporation, Bylaws and/or applicable
securities laws. 
 I further agree that, if required by the Company (or a representative of the underwriters) in connection with the first
underwritten registration of the offering of any securities of the Company under the Securities Act, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar
transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company for a period of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under
the Securities Act or such longer period as necessary to permit compliance with NASD Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the “Lock-Up Period”). I
further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the
foregoing covenant, the Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such period. 

 

	
	 Very truly yours,

	
	  

  
 2. 

 EXHIBIT B 

STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED,
                         hereby sells, assigns and transfers unto PRINCIPIA BIOPHARMA
INC., a Delaware corporation (the “Company”), pursuant to the Repurchase Option under that certain Early Exercise Stock Purchase Agreement, dated
                     by and between the undersigned and the Company (the
“Agreement”),                        
(                    ) shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented by
Certificate No(s).                     and does hereby irrevocably constitute and appoint the Company’s Secretary
attorney-in-fact to transfer said Common Stock on the books of the Company with full power of substitution in the premises. This Assignment may be used only in
accordance with and subject to the terms and conditions of the Agreement, in connection with the repurchase of shares of Common Stock issued to the undersigned pursuant to the Agreement, and only to the extent that such shares remain subject to the
Company’s Repurchase Option under the Agreement. 
 Dated: _______________ 

 

	
	  
 (Signature)

	  

	(Print Name)

 (INSTRUCTION: Please do not fill in any blanks other than the “Signature” line and the
“Print Name” line.) 

 EXHIBIT C 

JOINT ESCROW INSTRUCTIONS 
 Secretary 

Principia Biopharma Inc. 
 400 East Jamie Court, Ste. 302 

South San Francisco, CA 94080 
 Dear Sir or Madam: 

As Escrow Agent for both PRINCIPIA BIOPHARMA INC., a Delaware corporation
(“Company”), and the undersigned purchaser of Common Stock of the Company (“Purchaser”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that
certain Early Exercise Stock Purchase Agreement (“Agreement”), dated                          to which a
copy of these Joint Escrow Instructions is attached as Exhibit C, in accordance with the following instructions: 
 1. In the
event the Company or an assignee shall elect to exercise the Repurchase Option set forth in the Agreement, the Company or its assignee will give to Purchaser and you a written notice specifying the number of shares of Common Stock to be purchased,
the purchase price, and the time for a closing hereunder at the principal office of the Company. Purchaser and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms
of said notice. 
 At the closing you are directed (a) to date any stock assignments necessary for the transfer in question,
(b) to fill in the number of shares being transferred, and (c) to deliver same, together with the certificate evidencing the shares of Common Stock to be transferred, to the Company against the simultaneous delivery to you of the purchase
price (which may include suitable acknowledgment of cancellation of indebtedness) of the number of shares of Common Stock being purchased pursuant to the exercise of the Repurchase Option. 

Purchaser irrevocably authorizes the Company to deposit with you any certificates evidencing shares of Common Stock to be held by you
hereunder and any additions and substitutions to said shares as specified in the Agreement. Purchaser does hereby irrevocably constitute and appoint you as the Purchaser’s
attorney-in-fact and agent for the term of this escrow to execute with respect to such securities and other property all documents of assignment and/or transfer and all
stock certificates necessary or appropriate to make all securities negotiable and complete any transaction herein contemplated. 
 This
escrow shall terminate and the shares of stock held hereunder shall be released in full upon the later of (a) the expiration or exercise in full of the Repurchase Option, whichever occurs first, and (b) the payment in full of all principal
and interest due and payable under the promissory note attached to the Agreement, if any. 

  
 1. 

 If at the time of termination of this escrow you should have in your possession any documents,
securities, or other property belonging to Purchaser, you shall deliver all of same to Purchaser and shall be discharged of all further obligations hereunder; provided, however, that if at the time of termination of this escrow you are
advised by the Company that the property subject to this escrow is the subject of a pledge or other security agreement, you shall deliver all such property to the pledgeholder or other person designated by the Company. 

Except as otherwise provided in these Joint Escrow Instructions, your duties hereunder may be altered, amended, modified or revoked only by a
writing signed by all of the parties hereto. 
 You shall be obligated only for the performance of such duties as are specifically set forth
herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties or their assignees. You shall not be
personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Purchaser while acting in good faith and any act done or
omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 
 You are hereby expressly
authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments
or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court, you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding
any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 

You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or purporting to
execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 
 You shall not be liable for the outlawing
of any rights under any statute of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 
 Your
responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be Secretary of the Company or if you shall resign by written notice to the Company party. In the event of any such termination, the Secretary of the Corporation shall
automatically become the successor Escrow Agent unless the Company shall appoint another successor Escrow Agent, and Purchaser hereby confirms the appointment of such successor as Purchaser’s attorney-in-fact and agent to the full extent of your appointment. 
 If you reasonably require
other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the
securities, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a
final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

 Any notice required or permitted hereunder shall be given in writing and shall be deemed
effectively given upon personal delivery, including delivery by express courier or five days after deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties
hereunto entitled at the following addresses, or at such other addresses as a party may designate by ten days’ advance written notice to each of the other parties hereto: 

 

					
	COMPANY:	  	Principia Biopharma Inc.	  	
		  	400 East Jamie Court, Ste. 302	  	
		  	South San Francisco, CA 94080	  	
			
	PURCHASER:	  	  
	  	
		  	  
	  	
		  	  
	  	
			
	ESCROW AGENT:	  	Secretary	  	
		  	Principia Biopharma Inc.	  	
		  	400 East Jamie Court, Ste. 302	  	
		  	South San Francisco, CA 94080	  	

 By signing these Joint Escrow Instructions you become a party hereto only for the purpose of said Joint Escrow
Instructions; you do not become a party to the Agreement. 
 You shall be entitled to employ such legal counsel and other experts (including
without limitation the firm of Cooley LLP) as you may deem necessary properly to advise you in connection with your obligations hereunder. You may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor. The
Company shall be responsible for all fees generated by such legal counsel in connection with your obligations hereunder. 
 This instrument
shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent
and to any and all successor Escrow Agents. It is understood and agreed that the Company may at any time or from time to time assign its rights under the Agreement and these Joint Escrow Instructions in whole or in part. 

 This Agreement shall be governed by and interpreted and determined in accordance with the laws of
the State of California, as such laws are applied by California courts to contracts made and to be performed entirely in California by residents of that state. 

 

			
	 Very truly yours,

	
	 PRINCIPIA BIOPHARMA
INC.

		
	 By:
	 	  

 
			
	 Title:
	 	  

	
	 PURCHASER:

	
	  

  

	
	 ESCROW AGENT:EX-10.12

					
	  

  Confidential    
  
	  		  	EXECUTION COPY

 [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit 10.12 

DEVELOPMENT AND LICENSE AGREEMENT 

between 
 PRINCIPIA
BIOPHARMA INC. 
 and 

ABBVIE BIOTECHNOLOGY LIMITED 

Dated as of June 9, 2017 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1
	 	DEFINITIONS	  	 	1	 
			
	 ARTICLE 2
	 	COLLABORATION MANAGEMENT	  	 	18	 
			
	 2.1
	 	Joint Governance Committee	  	 	18	 
	 2.2
	 	General Provisions Applicable to the JGC	  	 	19	 
	 2.3
	 	Interactions Between a Committee and Internal Teams	  	 	21	 
	 2.4
	 	Working Groups	  	 	21	 
	 2.5
	 	Expenses	  	 	21	 
			
	 ARTICLE 3
	 	RESEARCH, DEVELOPMENT AND REGULATORY	  	 	21	 
			
	 3.1
	 	Research Activities	  	 	21	 
	 3.2
	 	Development Responsibility	  	 	22	 
	 3.3
	 	Pre-Clinical and Clinical Supply of Licensed Compounds or Licensed Products	  	 	22	 
	 3.4
	 	Subcontracting	  	 	23	 
	 3.5
	 	Research Costs	  	 	23	 
	 3.6
	 	Regulatory Matters	  	 	23	 
	 3.7
	 	Compliance	  	 	24	 
	 3.8
	 	Records	  	 	24	 
			
	 ARTICLE 4
	 	COMMERCIALIZATION	  	 	24	 
			
	 4.1
	 	In General	  	 	24	 
	 4.2
	 	Commercialization and Development Diligence	  	 	24	 
	 4.3
	 	Booking of Sales; Distribution	  	 	24	 
	 4.4
	 	Product Trademarks	  	 	25	 
	 4.5
	 	Commercial Supply of Licensed Compounds or Licensed Products	  	 	25	 
			
	 ARTICLE 5
	 	GRANT OF RIGHTS	  	 	25	 
			
	 5.1
	 	Grants to AbbVie	  	 	25	 
	 5.2
	 	Sublicenses	  	 	25	 
	 5.3
	 	Distributorships	  	 	25	 
	 5.4
	 	Co-Promotion Rights	  	 	25	 
	 5.5
	 	Retention of Rights	  	 	25	 
	 5.6
	 	Confirmatory Patent License	  	 	26	 
	 5.7
	 	Exclusivity with Respect to the Territory	  	 	26	 
	 5.8
	 	AbbVie Covenant	  	 	26	 
			
	 ARTICLE 6
	 	PAYMENTS AND RECORDS	  	 	28	 
			
	 6.1
	 	Upfront Payment	  	 	28	 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

							
	 6.2
	 	Development Milestones for Initial Licensed Product	  	 	28	 
	 6.3
	 	Development Milestones for Follow-On Licensed Product	  	 	29	 
	 6.4
	 	First Commercial Sales Milestones for Initial Licensed Product	  	 	29	 
	 6.5
	 	First Commercial Sales Milestones for Follow-On Licensed Product	  	 	30	 
	 6.6
	 	Sales-Based Milestones	  	 	30	 
	 6.7
	 	Royalties	  	 	31	 
	 6.8
	 	Royalty Payments and Reports	  	 	33	 
	 6.9
	 	Mode of Payment	  	 	33	 
	 6.10
	 	Withholding Taxes	  	 	33	 
	 6.11
	 	Indirect Taxes	  	 	34	 
	 6.12
	 	Interest on Late Payments	  	 	34	 
	 6.13
	 	Audit	  	 	34	 
	 6.14
	 	Audit Dispute	  	 	34	 
	 6.15
	 	Confidentiality	  	 	35	 
	 6.16
	 	No Other Compensation	  	 	35	 
	 6.17
	 	Responsibility for Third Party Payments	  	 	35	 
			
	 ARTICLE 7
	 	INTELLECTUAL PROPERTY	  	 	35	 
			
	 7.1
	 	Invention Ownership	  	 	35	 
	 7.2
	 	Maintenance and Prosecution of Patents	  	 	36	 
	 7.2
	 	Enforcement and Defense of Patents	  	 	38	 
	 7.3
	 	Infringement Claims by Third Parties	  	 	39	 
	 7.5
	 	Third Party Licenses	  	 	40	 
	 7.6
	 	Product Trademarks	  	 	40	 
	 7.7
	 	Inventor’s Remuneration	  	 	40	 
	 7.8
	 	Licensor Patents	  	 	40	 
			
	 ARTICLE 8
	 	CONFIDENTIALITY AND NON-DISCLOSURE	  	 	40	 
			
	 8.1
	 	Licensor Program Know-How	  	 	40	 
	 8.2
	 	Confidentiality Obligations	  	 	41	 
	 8.3
	 	Permitted Disclosures	  	 	41	 
	 8.4
	 	Use of Name	  	 	43	 
	 8.5
	 	Public Announcements	  	 	43	 
	 8.6
	 	Publications	  	 	43	 
	 8.7
	 	Return of Confidential Information	  	 	44	 
	 8.8
	 	Survival	  	 	44	 
			
	 ARTICLE 9
	 	REPRESENTATIONS AND WARRANTIES	  	 	44	 
			
	 9.1
	 	Mutual Representations and Warranties	  	 	44	 
	 9.2
	 	Additional Representations and Warranties of Licensor	  	 	45	 
	 9.3
	 	DISCLAIMER OF WARRANTIES	  	 	48	 

  
 - ii - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

							
			
	 ARTICLE 10
	 	INDEMNITY	  	 	49	 
			
	 10.1
	 	Indemnification of Licensor	  	 	49	 
	 10.2
	 	Indemnification of AbbVie	  	 	49	 
	 10.3
	 	Notice of Claim	  	 	49	 
	 10.4
	 	Control of Defense	  	 	49	 
	 10.5
	 	Special, Indirect, and Other Losses	  	 	51	 
	 10.6
	 	Insurance	  	 	51	 
			
	 ARTICLE 11
	 	TERM AND TERMINATION	  	 	52	 
			
	 11.1
	 	Term	  	 	52	 
	 11.2
	 	Termination for Material Breach	  	 	52	 
	 11.3
	 	Additional Termination Right by AbbVie	  	 	53	 
	 11.4
	 	Termination for Insolvency	  	 	53	 
	 11.5
	 	Rights in Bankruptcy	  	 	53	 
	 11.6
	 	Termination in Entirety	  	 	54	 
	 11.7
	 	Termination of Terminated Territory	  	 	54	 
	 11.8
	 	Grantback Option Transition Agreement	  	 	54	 
	 11.9
	 	Reverse Royalty	  	 	56	 
	 11.10
	 	Remedies	  	 	57	 
	 11.11
	 	Accrued Rights; Surviving Obligations	  	 	57	 
			
	 ARTICLE 12
	 	MISCELLANEOUS	  	 	58	 
			
	 12.1
	 	Force Majeure	  	 	58	 
	 12.2
	 	Export Control	  	 	58	 
	 12.3
	 	Assignment	  	 	59	 
	 12.4
	 	Severability	  	 	59	 
	 12.5
	 	Governing Law, Jurisdiction and Service	  	 	59	 
	 12.6
	 	Dispute Resolution	  	 	59	 
	 12.7
	 	Notices	  	 	60	 
	 12.8
	 	Entire Agreement; Amendments	  	 	61	 
	 12.9
	 	English Language	  	 	61	 
	 12.10
	 	Equitable Relief	  	 	62	 
	 12.11
	 	Waiver and Non-Exclusion of Remedies	  	 	62	 
	 12.12
	 	No Benefit to Third Parties	  	 	62	 
	 12.13
	 	Further Assurance	  	 	62	 
	 12.14
	 	Relationship of the Parties	  	 	62	 
	 12.15
	 	Performance by Affiliates	  	 	63	 
	 12.16
	 	Counterparts; Facsimile Execution	  	 	63	 
	 12.17
	 	References	  	 	63	 
	 12.18
	 	Schedules	  	 	63	 
	 12.19
	 	Construction	  	 	63	 

  
 - iii - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 SCHEDULES 
  

			
	Schedule 1.5	  	Academic Collaboration Agreements
	Schedule 1.33	  	Assays
	Schedule 1.57	  	Follow-On Licensed Products
	Schedule 3.3.1	  	Research Plan
	Schedule 3.4	  	Existing Subcontractors
	Schedule 7.2.2	  	List of jurisdictions required to file or maintain patents
	Schedule 8.5	  	Press Release
	Schedule 9.2.1	  	Existing Patents
	Schedule 12.6.1	  	ADR Procedures

  
 - iv - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 DEVELOPMENT AND LICENSE AGREEMENT 

This Development and License Agreement (the “Agreement”) is made and entered into effective as of June 9, 2017
(the “Effective Date”) by and between Principia Biopharma, Inc., a Delaware corporation (“Licensor”), and AbbVie Biotechnology Limited, a corporation organized under the laws of Bermuda having its place of
business at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda (“AbbVie”). Licensor and AbbVie are sometimes referred to herein individually as a “Party” and collectively as the
“Parties.” 
 RECITALS 

WHEREAS, Licensor Controls (as defined herein) certain intellectual property rights with respect to the Licensed Compound (as defined
herein) and Licensed Products (as defined herein) in the Territory (as defined herein); and 
 WHEREAS, Licensor wishes to grant, and
AbbVie wishes to take, a license under such intellectual property rights to develop and commercialize Licensed Products in the Territory, in each case in accordance with the terms and conditions set forth below. 

NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS

 Unless otherwise specifically provided herein, the following terms shall have the following meanings: 

1.1    “AbbVie” has the meaning set forth in the preamble hereto. 

1.2    “AbbVie Exclusivity Start Date” has the meaning set forth in
Section 5.7.2(b). 
 1.3    “AbbVie Grantback Patent” has the
meaning set forth in Section 11.8.1. 
 1.4    “AbbVie Prosecuted/Defense
Claims” has the meaning set forth in Section 7.3.1. 

1.5    “Academic Collaboration Agreement” means those certain agreements with Academic
Collaborators listed on Schedule 1.5 attached hereto, as in effect on the Effective Date. 

1.6    “Academic Collaborator” means those certain academic institutions listed on Schedule
1.5 attached hereto. 
 1.7    “Accounting Standards” means, with respect to a Party, that
such Party shall maintain records and books of accounts in accordance with United States Generally Accepted Accounting Principles. 

1.8    “Acquisition” means, with respect to a Party, a merger, acquisition (whether of all of the
stock or all or substantially all of the assets of a Person or any operating or business division of a Person) or similar transaction by or with the Party (or any of its Affiliates), other than a Change in Control of the Party. 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.9    “Adverse Ruling” has the meaning set
forth in Section 11.2.1.  
 1.10    “Affiliate” means,
with respect to a Party, any Person that, directly or indirectly through one (1) or more intermediaries, controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” and, with
correlative meanings, the terms “controlled by” and “under common control with” means (a) the possession, directly or indirectly, of the power to direct the management or policies of a Person, whether through the ownership
of voting securities, by contract relating to voting rights or corporate governance, or otherwise; or (b) the ownership, directly or indirectly, of more than fifty percent (50%) of the voting securities or other ownership interest of a Person
(or, with respect to a limited partnership or other similar entity, its general partner or controlling entity). The Parties acknowledge that in the case of certain entities organized under the laws of certain countries outside of the United States,
the maximum percentage ownership permitted by law for a foreign investor may be less than fifty percent (50%), and that in such case such lower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the
power to direct the management or policies of such entity. 
 1.11    “Agreement” has the
meaning set forth in the preamble hereto. 
 1.12    “Alliance Manager” has the meaning set
forth in Section 2.2.5. 
 1.13    “Amount” has the meaning set forth
in Section 6.10. 
 1.14    “ANDA Act” has the meaning set forth in
Section 7.3.2. 
 1.15    “Annual Net Sales-Based Milestone Payment”
has the meaning set forth in Section 6.6. 
 1.16    “Annual Net Sales-Based
Milestone Payment Date” has the meaning set forth in Section 6.6. 

1.17    “Annual Net Sales Milestone Threshold” has the meaning set forth in
Section 6.6. 
 1.18    “Applicable Law” means federal, state,
local, national and supra-national laws, statutes, rules, and regulations, including any rules, regulations, regulatory guidelines, or other requirements of the Regulatory Authorities, major national securities exchanges or major securities listing
organizations, that may be in effect from time to time during the Term and applicable to a particular activity or country or other jurisdiction hereunder. 

1.19    “Audit Arbitrator” has the meaning set forth in
Section 6.14. 
 1.20    “Bankruptcy Code” has the meaning set forth
in Section 11.5.1. 
 1.21    “Breaching Party” has the meaning set
forth in Section 11.2.1. 

  
 - 2 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.22    “Business Day” means a day other than a
Saturday or Sunday on which banking institutions in Chicago, Illinois are open for business. 

1.23    “Calendar Quarter” means each successive period of three (3) calendar months
commencing on January 1, April 1, July 1 and October 1, except that the first Calendar Quarter of the Term shall commence on the Effective Date and end on the day immediately prior to the first to occur of January 1,
April 1, July 1 or October 1 after the Effective Date, and the last Calendar Quarter shall end on the last day of the Term. 

1.24    “Calendar Year” means each successive period of twelve (12) calendar months
commencing on January 1 and ending on December 31, except that the first Calendar Year of the Term shall commence on the Effective Date and end on December 31 of the year in which the Effective Date occurs and the last Calendar Year
of the Term shall commence on January 1 of the year in which the Term ends and end on the last day of the Term. 

1.25    “Change in Control” with respect to a Party, shall be deemed to have occurred if any of
the following occurs after the Effective Date:  
 1.25.1    any “person” or
“group” (as such terms are defined below) (a) is or becomes the “beneficial owner” (as defined below), directly or indirectly, of shares of capital stock or other interests (including partnership interests) of such Party
then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of the directors, managers or similar supervisory positions (“Voting Stock”) of such Party representing fifty
percent (50%) or more of the total voting power of all outstanding classes of Voting Stock of such Party or (b) has the power, directly or indirectly, to elect a majority of the members of the Party’s board of directors, or similar
governing body (“Board of Directors”); or 
 1.25.2    such Party enters into a merger,
consolidation or similar transaction with another Person (whether or not such Party is the surviving entity) and as a result of such merger, consolidation or similar transaction (a) the members of the Board of Directors of such Party
immediately prior to such transaction constitute less than a majority of the members of the Board of Directors of such Party or such surviving Person immediately following such transaction or (b) the Persons that beneficially owned, directly or
indirectly, the shares of Voting Stock of such Party immediately prior to such transaction cease to beneficially own, directly or indirectly, shares of Voting Stock of such Party representing at least a majority of the total voting power of all
outstanding classes of Voting Stock of the surviving Person in substantially the same proportions as their ownership of Voting Stock of such Party immediately prior to such transaction; or 

1.25.3    such Party sells or transfers to any Third Party, in one (1) or more related transactions,
properties or assets representing all or substantially all of such Party’s assets to which this Agreement relates; or 

1.25.4    the holders of capital stock of such Party approve a plan or proposal for the liquidation or dissolution
of such Party. 
 1.26    For the purpose of this definition of Change in Control, (a) “person”
and “group” have the meanings given such terms under Section 13(d) and 14(d) of the United States Securities Exchange Act of 1934 and the term “group” includes any group acting for the purpose of acquiring, holding or
disposing of securities within the meaning of Rule 13d-5(b)(1) under the said Act; (b) a “beneficial owner” shall be determined in accordance with Rule
13d-3 under the aforesaid Act; and (c) the terms “beneficially owned” and “beneficially own” shall have meanings correlative to that of “beneficial owner.” 

  
 - 3 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.27    “Clinical Data” means all Information
with respect to any Licensed Compound or Licensed Product and made, collected, or otherwise generated under or in connection with Clinical Studies, including any data (including raw data), reports, and results with respect thereto. 

1.28    “Clinical Studies” means Phase 0, Phase I, Phase IIa, Phase IIb, Phase III, and such other
tests and studies in human subjects that are required by Applicable Law, or otherwise recommended by the Regulatory Authorities, to obtain or maintain Regulatory Approvals for a Licensed Product for one (1) or more indications, including tests
or studies that are intended to expand the Product Labeling for such Licensed Product with respect to such indication. 

1.29    “Combination Product” means a Licensed Product that comprises both (a) a Licensed
Compound together with (b) one (1) or more other therapeutically active pharmaceutical ingredients (that are not Licensed Compounds) and is sold either as a fixed dose or as separate doses as one (1) product. 

1.30    “Commercialization” means any and all activities directed to the preparation for
sale of, offering for sale of, or sale of a Licensed Compound or Licensed Product, including activities related to marketing, promoting, distributing, importing and exporting such Licensed Compound or Licensed Product, and interacting with
Regulatory Authorities regarding any of the foregoing. When used as a verb, “to Commercialize” and “Commercializing” means to engage in Commercialization, and “Commercialized” has a corresponding
meaning. 
 1.31    “Commercially Reasonable Efforts” means, with respect to the
performance of Development, Commercialization, or Manufacturing activities with respect to the Licensed Compound or a Licensed Product by a Party, the carrying out of such activities [*] taking into account all scientific, commercial, and other
factors that the Party would typically take into account, [*] “Commercially Reasonable Efforts” shall be determined [*]. 

1.32    “Competing Activities” has the meaning set forth in
Section 5.7.2(b). 
 1.33    “Competing Product” means any compound
that [*] (including a product that constitutes, incorporates, comprises or contains such a compound), as determined by utilizing the assays described in Schedule 1.33, other than a Licensed Compound or Licensed Product. 

1.34    [*] 

1.35    “Confidential Information” means any proprietary Information provided orally, visually, in
writing or other form by or on behalf of one (1) Party (or an Affiliate or representative of such Party) to the other Party (or to an Affiliate or representative of such Party) in connection with this Agreement, whether prior to, on, or after
the Effective Date, including the terms of this Agreement (to the extent not then in the public domain), the Licensed Compound or any Licensed Product (including the Regulatory Documentation), any Exploitation of the Licensed Compound or any
Licensed Product, any know-how with respect thereto developed by or on behalf of the disclosing Party or its Affiliates, or the scientific, regulatory or business affairs or other activities

  
 - 4 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
of either Party. Notwithstanding the foregoing, (a) the terms of this Agreement and Joint Know-How shall be deemed to be the Confidential Information
of both Parties, and both Parties shall be deemed to be the receiving Party and the disclosing Party with respect thereto, and (b) all Regulatory Documentation owned by AbbVie pursuant to Section 3.6.1 shall be deemed
to be the Confidential Information of AbbVie, and AbbVie shall be deemed to be the disclosing Party and Licensor shall be deemed to be the receiving Party with respect thereto. 

1.36    “Control” means, with respect to any item of Information, Regulatory Documentation,
material, Patent, or other property right, the possession of the right, whether directly or indirectly, and whether by ownership, license, covenant not to sue or otherwise (other than by operation of the license and other grants in
Section 5.1), to grant a license, sublicense or other right (including the right to reference Regulatory Documentation) to or under such Information, Regulatory Documentation, material, Patent, or other property right as
provided for herein without violating the terms of any agreement or other arrangement with any Third Party. 

1.37    “Default Notice” has the meaning set forth in Section 11.2.1.
 
 1.38    “Development” means all activities related to [*] When used as a verb,
“Develop” means to engage in Development. For purposes of clarity, Development shall include any submissions and activities required in support thereof, required by Applicable Laws or a Regulatory Authority as a condition or in
support of obtaining a pricing or reimbursement approval for an approved Licensed Product. 

1.39    “Dispute” has the meaning set forth in Section 12.6. 

1.40    “Distributor” has the meaning set forth in Section 5.3. 

1.41    [*] 

1.42    “Dollars” or “$” means United States Dollars. 

1.43    “Drug Approval Application” means a New Drug Application (an “NDA”) as
defined in the FFDCA, or any corresponding foreign application in the Territory, including, with respect to the European Union, a Marketing Authorization Application (a “MAA”) filed with the EMA or with the applicable Regulatory
Authority of a country in Europe with respect to the mutual recognition or any other national approval procedure. 

1.44    “Excepted Product” means any Competing Product that (a) [*] or [*] or [*] and [*];
(b) [*]; and (c) [*] and [*]. 
 1.45    “Effective Date” means the effective date of
this Agreement as set forth in the preamble hereto. 
 1.46    “EMA” means the European
Medicines Agency and any successor agency or authority having substantially the same function. 

  
 - 5 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.47    “European Union” or
“E.U.” means the economic, scientific, and political organization of member states known as the European Union, as its membership may be altered from time to time, and any successor thereto. 

1.48    “Exclusivity Recommencement Date” has the meaning set forth in
Section 5.7.2(c). 
 1.49    “Existing Patents” has the meaning set
forth in Section 9.2.1. 
 1.50    “Existing Regulatory Documentation”
means the Regulatory Documentation Controlled by Licensor or any of its Affiliates as of the Effective Date. 

1.51    “Exploit” or “Exploitation” means to make, have made, import, export,
use, have used, sell, have sold, or offer for sale, including to Develop, Commercialize, register, modify, enhance, improve, Manufacture, have Manufactured, hold, or keep (whether for disposal or otherwise), formulate, optimize, or otherwise dispose
of. 
 1.52    “FDA” means the United States Food and Drug Administration and any
successor agency(ies) or authority having substantially the same function. 
 1.53    “FFDCA”
means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. § 301 et seq., as amended from time to time, together with any rules, regulations and requirements promulgated thereunder (including all additions, supplements,
extensions, and modifications thereto). 
 1.54    “Field” means [*] 

1.55    “First Commercial Sale” means, with respect to a Licensed Product and a country, the first
sale for monetary value for use or consumption by the end user of such Licensed Product in such country (including [*]; provided, however, that for the purpose of determining whether any milestone set forth in Section 6.4
or Section 6.5 has been achieved, “First Commercial Sale” shall not be deemed to have occurred until after Regulatory Approval (but excluding any post-marketing authorizations) for such Licensed Product has been
obtained in such country. 
 1.56    “Floor Rate” means [*]; provided, however, [*], the
“Floor Rate” shall [*]. For example, [*], and [*], the new “Floor Rate” shall [*]. 

1.57    “Follow-On Licensed Product” means a Licensed
Product which contains one or more Licensed Compounds that is/are not contained in a Licensed Product for which a milestone payment under any of Sections 6.2.1, 6.2.2, 6.2.3, 6.2.4, 6.4.1, 6.4.2 or
6.4.3 has already been paid to Licensor as of the time of such assessment, and that is [*] from the Initial Licensed Product as provided for in Schedule 1.57. Notwithstanding the foregoing, if either (a) [*],
or (b) [*], then in either case such Licensed Product shall be deemed nonetheless to be a “Follow-On Licensed Product” for purposes of such milestone (even if [*]). 

1.58    “Generic Competition” has the meaning set forth in
Section 6.7.3(a). 
 1.59    “Grantback Option” has the meaning set
forth in Section 11.8.1. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.60    “Generic Product” means, with
respect to a Licensed Product, any product that (a) is sold by a Third Party that is not a licensee or Sublicensee of AbbVie or its Affiliates, or any of their licensees or Sublicensees, under a Drug Approval Application granted by a Regulatory
Authority to a Third Party; (b) contains the Licensed Compound as an active ingredient; and (c) is approved in reliance, in whole or in part, on the prior approval (or on safety or efficacy data submitted in support of the prior approval)
of such Licensed Product as determined by the applicable Regulatory Authority. 
 1.61    “IND”
means an application filed with a Regulatory Authority for authorization to commence Clinical Studies, including (a) an Investigational New Drug Application as defined in the FFDCA or any successor application or procedure filed with the FDA,
(b) any equivalent of a United States IND in other countries or regulatory jurisdictions, (i.e., clinical trial application (CTA)) and (c) all supplements, amendments, variations, extensions and renewals thereof that may be filed with
respect to the foregoing. 
 1.62    “Indemnification Claim Notice” has the meaning set
forth in Section 10.3. 
 1.63    “Indemnified Party” has the
meaning set forth in Section 10.3. 
 1.64    “Indirect Taxes” has the
meaning set forth in Section 6.11. 
 1.65    “Information” means all
technical, scientific, business and other information, including know-how, technology, means, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas,
technical assistance, designs, drawings, assembly procedures, computer programs, apparatuses, specifications, data, results and other material, and other biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and information, including study designs and protocols, reagents (e.g., plasmids, proteins, cell lines, assays and compounds) and biological
methodology; in each case (whether or not confidential, proprietary, patented or patentable, of commercial advantage or not) in written, electronic or any other form now known or hereafter developed. 

1.66    “Initial Licensed Product” means a Licensed Product for which a milestone payment under
any of Sections 6.2.1, 6.2.2, 6.2.3, 6.2.4, 6.4.1, 6.4.2 or 6.4.3 is first received for such Licensed Product. 

1.67    “Initiation” or “Initiate” means, with respect to a Clinical Study, the
first dosing of the first human subject in such Clinical Study. 
 1.68    “Intellectual
Property” has the meaning set forth in Section 11.5.1. 

1.69    “Joint Governance Committee” or “JGC” has the meaning set
forth in Section 2.1.1. 
 1.70    “Joint Intellectual Property
Rights” means the collective reference to Joint Know-How and Joint Patents. 

1.71    “Joint Inventions” has the meaning set forth in
Section 7.1.2. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.72    “Joint
Know-How” means Information that (a) is not generally known and (b) is conceived, discovered, developed or otherwise made jointly by or on behalf of Licensor or its Affiliates or
sublicensees, on the one hand, and AbbVie or its Affiliates or sublicensees, on the other hand, under this Agreement, in each case whether or not patented or patentable. 

1.73    “Joint Patents” means all of the Patents claiming Joint Inventions. 

1.74    “Knowledge” means [*]. 

1.75    “LIBOR” means the London Interbank Offered Rate for deposits in United States Dollars
having a maturity of one (1) month published by the British Bankers’ Association, as adjusted from time to time on the first London business day of each month. 

1.76    “Licensed Compound” means any compound that [*], and that (a) [*], (b) [*], (c)
[*], or (d) [*]. “Licensed Compound” also includes [*]. 
 1.77    “Licensed
Product” means any product comprising or containing one or more Licensed Compounds, alone or in combination with one or more other active ingredients in any and all forms, in current and future formulations, dosage forms and
strengths, and delivery modes including any improvements thereto. 
 1.78    “Licensor” has the
meaning set forth in the preamble hereto. 
 1.79    “Licensor Exclusivity End Date” has the
meaning set forth in Section 5.7.2(b). 
 1.80    “Licensor
Indemnitees” has the meaning set forth in Section 10.1. 

1.81    “Licensor Institutional Know-How” means all
Information that (a) is Controlled by Licensor or any of its Affiliates as of the Effective Date or at any time during the Term, (b) is not generally known and (c) pertains to any or all of the following: (i) [*]; (ii) [*];
(iii) [*], and (iv) [*]. 
 1.82    “Licensor Know-How”
means all (a) all Licensor Program Know-How and (b) any other Information that is (i) Controlled by Licensor or any of its Affiliates as of the Effective Date or at any time during the Term,
(ii) not generally known and (iii) reasonably necessary or useful for the Exploitation of the Licensed Compound or Licensed Product, but excluding in all cases Joint Know-How or
Information disclosed in published Licensor Patents or Joint Patents. 
 1.83    “Licensor
Patents” means (a) the Licensor Program Patents, (b) Licensor’s interest in any Joint Patents; and (c) any other Patents that (i) are Controlled by Licensor or any of its Affiliates as of the Effective Date or at
any time during the Term and (ii) claim or cover any Licensed Compounds or Licensed Products (but not including any claims of any such Patent to the extent it solely claims any other active pharmaceutical ingredient that is not a Licensed
Compound) or the Exploitation thereof in the Field in the Territory. 
 1.84    “Licensor Program Know-How” means all Information other than any Joint Know-How that: 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.84.1     (a) is Controlled by Licensor or any of its
Affiliates as of the Effective Date or at any time during the Term, (b) is not generally known and (c) constitutes any or all of the following: (i) the identity, including the structure of a Licensed Compound (as a whole),
including SAR, (ii) the immunoproteasome subunit selectivity of a Licensed Compound, (iii) testing data generated under the Research Activities for a Licensed Compound, (iv) the formulation of a Licensed Compound, (v) target
validation data for a Licensed Compound (vi) the use of a Licensed Compound, or (vii) the specific method of synthesis of a Licensed Compound; 

1.84.2    is (a) Controlled by Licensor at any time during the Term, (b) not generally known and
(c) generated by Licensor or on its behalf in the conduct of the Research Activities or in response to any assistance provided by Licensor to AbbVie following the Research Term; or 

1.84.3     is Licensor Institutional Know-How that is either
(a) utilized in the performance by Licensor of the Research Activities, or (b) incorporated by Licensor into any Licensed Compound or used in connection with its Manufacture or Development. 

1.85    “Licensor Program Patents” means (a) the Existing Patents and (b) any Patents
(other than Joint Patents) that (i) are Controlled by Licensor or any of its Affiliates at any time during the Term and (ii) claim or cover any Licensor Program Know-How (regardless of whether such
Licensor Program Know-How is no longer Licensor Program Know-How as a result of being in the public domain). In furtherance of the foregoing and notwithstanding anything
contained in this Agreement to the contrary, “Licensor Program Patents” includes all Licensor Patents that claim or cover the composition of matter or use of any Licensed Compound (excluding any claims in a Patent that solely cover a
Competing Product (and not any other Licensed Compound) and (x) such Patent was invented or conceived by or on behalf of, or Controlled by, Licensor or its Affiliates during the period for which it is permitted to do so in accordance with
Section 5.7, and (y) AbbVie elects not to [*] and include such Competing Product as a Licensed Product under Section 5.7.2(c), provided that the Parties shall discuss and act in good faith to
separate claims that solely cover a Competing Product, and claims that cover Licensed Compounds, into different Patents). 

1.86    “Licensor Prosecuted Patents” has the meaning set forth in
Section 7.8. 
 1.87    “Losses” has the meaning set forth in
Section 10.1. 
 1.88    “MAA” has the meaning set forth in the
definition of Drug Approval Application. 
 1.89    “Major Market” means each of the [*]. 

1.90    “Manufacture” and “Manufacturing” means all activities related to the
synthesis, making, production, processing, purifying, formulating, filling, finishing, packaging, labeling, shipping, and holding of the Licensed Compound, any Licensed Product, or any intermediate thereof, including process development, process
qualification and validation, scale-up, pre-clinical, clinical and commercial production and analytic development, product characterization, stability testing, quality
assurance, and quality control. 
 1.91    “Mono Product” has the meaning set forth in the
definition of “Net Sales.” 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.92    “NDA” has the meaning set forth
in the definition of Drug Approval Application. 
 1.93    “Net Sales” means, with respect to a
Licensed Product for any period, [*] less the following deductions, [*]: 
 1.93.1    [*] 

1.93.2    [*]taxes on sales (such as sales, value added, or use taxes (but excluding taxes on income)) to the
extent added to the sale price and set forth separately as such in the total amount invoiced; 
 1.93.3    [*]

 1.93.4    [*] 

1.93.5    [*], where for purposes of this Net Sales definition, [*]; 

1.93.6    [*]; 

1.93.7    [*]; 

1.93.8    [*]; 

1.93.9    [*][*] 

Net Sales shall not include [*] Subject to the above, Net Sales shall be calculated in accordance with [*] For purposes of calculating Net
Sales, [*] 
 In the event a Licensed Product is a Combination Product, the Net Sales for such Combination Product shall be calculated as
follows: 
 (a)    If AbbVie, its Affiliate, or Sublicensee separately sells in such country or other jurisdiction, [*]
the Net Sales attributable to [*] shall be calculated by [*] 
 (b)    If AbbVie, its Affiliate, or Sublicensee
separately sells in such country or other jurisdiction [*] the Net Sales attributable to [*] shall be calculated by [*] 

(c)    If AbbVie, its Affiliates, and Sublicensees do not separately sell in such country or other jurisdiction [*] the
Net Sales attributable to [*] shall be calculated by [*] 
 (d)    If AbbVie, its Affiliates, and Sublicensees do not
separately sell in such country or other jurisdiction [*] the Net Sales attributable to [*] shall be [*] 

1.94    “Non-Breaching Party” has the meaning set forth in
Section 11.2.1. 
 1.95    “Party” and
“Parties” has the meaning set forth in the preamble hereto. 

1.96    “Patents” means (a) all national, regional and international patents and patent
applications, including provisional patent applications, (b) all patent applications filed either from 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
such patents, patent applications or provisional applications or from an application claiming priority from either of these, including divisionals, continuations,
continuations-in-part, provisionals, converted provisionals and continued prosecution applications, (c) any and all patents that have issued or in the future issue
from the foregoing patent applications ((a) and (b)), including utility models, petty patents and design patents and certificates of invention, and (d) any and all extensions (including pediatric exclusivity, patent term extension and
supplementary patent certificate) or restorations of the patents described in paragraphs (a) through (c) above by existing or future extension or restoration mechanisms. 

1.97    “Person” means an individual, sole proprietorship, partnership, limited
partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or political
subdivision, department or agency of a government. 
 1.98    “Phase 0” means an exploratory, first-in-human trial conducted in accordance with the FDA 2006 Guidance on Exploratory Investigational New Drug Studies (or the equivalent in any country or other jurisdiction
outside of the United States) and designed to expedite the development of therapeutic or imaging agents by establishing very early on whether the agent behaves in human subjects as was anticipated from
pre-clinical studies. 
 1.99    “Phase I” means a human
clinical trial of a Licensed Compound or Licensed Product, the principal purpose of which is a preliminary determination of safety, tolerability, pharmacological activity or pharmacokinetics in healthy individuals or patients or similar clinical
study prescribed by the Regulatory Authorities, including the trials referred to in 21 C.F.R. §312.21(a), as amended. 

1.100    “Phase IIa” means a human clinical trial of a Licensed Compound or Licensed Product, the
principal purpose of which is a determination of safety and initial efficacy, including proof-of-concept, in the target patient population, which is prospectively
designed to generate sufficient data that may permit commencement of further clinical trials, or a similar clinical study prescribed by the Regulatory Authorities, from time to time, pursuant to Applicable Law or otherwise, including the trials
referred to in 21 C.F.R. §312.21(b), as amended. 
 1.101    “Phase IIb” means a human
clinical trial of a Licensed Compound or Licensed Product, the principal purpose of which is a determination of safety and appropriate dose-ranges for efficacy in the target patient population, which is prospectively designed to generate sufficient
data that may permit commencement of pivotal clinical trials, or a similar clinical study prescribed by the Regulatory Authorities, from time to time, pursuant to Applicable Law or otherwise, including the trials referred to in 21 C.F.R.
§312.21(b), as amended. 
 1.102    “Phase III” means a human clinical trial of a Licensed
Compound or Licensed Product on a sufficient number of subjects in an indicated patient population that is designed to establish that a Licensed Compound or Licensed Product is safe and efficacious for its intended use and to determine the
benefit/risk relationship, warnings, precautions, and adverse reactions that are associated with such product in the dosage range to be prescribed, which trial is intended to support marketing approval of such Licensed Compound or Licensed Product,
including all tests and studies that are required by the FDA (or other applicable Regulatory Authority) from time to time, pursuant to Applicable Law or otherwise, including the trials referred to in 21 C.F.R. §312.21(c), as amended. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 1.103    “PMDA” means Japan’s
Pharmaceuticals and Medical Devices Agency and any successor agency or authority having substantially the same function. 

1.104    “Product Infringement” has the meaning set forth in
Section 7.3.1. 
 1.105    “Product Labeling” means, with
respect to a Licensed Product in a country or other jurisdiction in the Territory, (a) the Regulatory Authority-approved full prescribing information for such Licensed Product for such country or other
jurisdiction, including any required patient information, and (b) all labels and other written, printed, or graphic matter upon a container, wrapper, or any package insert utilized with or for such Licensed Product in such country or other
jurisdiction. 
 1.106    “Product Trademarks” means the Trademark(s) to be used by AbbVie or
its Affiliates or its or their respective Sublicensees for the Development or Commercialization of Licensed Products in the Territory and any registrations thereof or any pending applications relating thereto in the Territory (excluding, in any
event, any trademarks, service marks, names or logos that include any corporate name or logo of the Parties or their Affiliates). 

1.107    “Region” means each of the following countries or regions: [*]. 

1.108    “Regulatory Approval” means, with respect to a country or other jurisdiction in the
Territory, all approvals (including Drug Approval Applications), licenses, registrations, or authorizations of any Regulatory Authority necessary to Commercialize a Licensed Compound or Licensed Product in such country or other jurisdiction,
including, where applicable, (a) pricing or reimbursement approval in such country or other jurisdiction, (b) pre- and post-approval marketing authorizations (including any prerequisite Manufacturing
approval or authorization related thereto), and (c) approval of Product Labeling. 

1.109    “Regulatory Authority” means any applicable supra-national, federal, national, regional,
state, provincial, or local governmental or regulatory authority, agency, department, bureau, commission, council, or other entities (e.g., the FDA, EMA and PMDA) regulating or otherwise exercising authority with respect to activities contemplated
in this Agreement, including the Exploitation of the Licensed Compound or Licensed Products in the Territory. 

1.110    “Regulatory Documentation” means all (a) applications (including all INDs and Drug
Approval Applications), registrations, licenses, authorizations, and approvals (including Regulatory Approvals), (b) correspondence and reports submitted to or received from Regulatory Authorities (including minutes and official contact reports
relating to any communications with any Regulatory Authority) and all supporting documents with respect thereto, including all regulatory drug lists, advertising and promotion documents, adverse event files, and complaint files, and
(c) Clinical Data and data contained or relied upon in any of the foregoing, in each case ((a), (b), and (c)) relating to a Licensed Compound or Licensed Product. 

1.111    “Regulatory Exclusivity” means, with respect to any country or other jurisdiction in the
Territory, an additional market protection, other than Patent protection, granted by a 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
Regulatory Authority in such country or other jurisdiction which confers an exclusive Commercialization period during which AbbVie or its Affiliates or Sublicensees have the exclusive right to
market and sell a Licensed Compound or Licensed Product in such country or other jurisdiction through a regulatory exclusivity right (e.g., new chemical entity exclusivity, new use or indication exclusivity, new formulation exclusivity, orphan drug
exclusivity, pediatric exclusivity, or any applicable data exclusivity). 
 1.112    “Research
Activities” has the meaning set forth in Section 3.1.1. 

1.113    “Research Costs” means the internal and out-of-pocket costs and expenses incurred by or on behalf of a Party or any of its Affiliates during the Term that are specifically identifiable or reasonably allocable to Research Activities in accordance
with the Research Plan. 
 1.114    “Research Plan” means the plan setting forth in reasonable
detail specific Research Activities to be performed by each Party with respect to the Licensed Compound or a Licensed Product during the Research Term, and allocating responsibility for such Research Activities between the Parties, the initial
version of which is attached on Schedule 3.1.1. 
 1.115    “Research
Term” means the period commencing on the Effective Date and continuing until the second anniversary thereof. 

1.116    “Restricted Product” has the meaning set forth in
Section 5.7.2(a). 
 1.117    “Reverse Royalty Term” means, with
respect to each Licensed Product upon exercise of the Grantback Option, and each country or other jurisdiction in the Terminated Territory, the period beginning on the date of the First Commercial Sale of such Licensed Product in such country or
other jurisdiction after termination of this Agreement with respect to such country or other jurisdiction and ending on the latest to occur of (a) the expiration of the
last-to-expire Joint Patent or AbbVie Grantback Patent that includes a Valid Claim that covers the composition of matter of such Licensed Product in such country or
other jurisdiction, (b) the expiration of Regulatory Exclusivity in such country or other jurisdiction for such Licensed Product or (c) the [*] anniversary of the First Commercial Sale of such Licensed Product in such country or other
jurisdiction. Solely for purposes of this Section 1.117, reference in the definitions of “Regulatory Exclusivity” to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall
be deemed to be a reference to a licensee or Sublicensee of Licensor or its Affiliates. 

1.118    “Royalty Term” means, with respect to each Licensed Product and each country or other
jurisdiction in the Territory, the period beginning on the date of the First Commercial Sale of such Licensed Product in such country or other jurisdiction, and ending on the latest to occur of (a) the expiration, invalidation or abandonment
date of the last Licensor Patent that includes a Valid Claim that covers the composition of matter of such Licensed Product in such country or other jurisdiction, (b) the expiration of Regulatory Exclusivity in such country or other
jurisdiction for such Licensed Product, and (c) the tenth (10th) anniversary of the First Commercial Sale of such Licensed Product in such country or other jurisdiction. 

1.119    “Segregate” means, with respect to a Competing Product, to use Commercially Reasonable
Efforts to segregate the Development and commercialization activities relating to such 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
Competing Product in the Field from Development and commercialization activities with respect to Licensed Compounds and Licensed Products under this Agreement, including using Commercially
Reasonable Efforts to ensure that: [*]; and (b) [*]; provided, that, [*]. 
 1.120    “Senior
Officer” means, with respect to Licensor, its [*] or his/her designee, and with respect to AbbVie, its [*] or his/her designee. 

1.121    “Sublicensee” means a Person, other than an Affiliate or a Distributor, that is
granted a sublicense by AbbVie under the grants in Section 5.1 as provided in Section 5.2. 

1.122    “Term” has the meaning set forth in Section 11.1.1. 

1.123    “Terminated Territory” means each country in a Region with respect to which this
Agreement is terminated by AbbVie pursuant to Section 11.3, or, if this Agreement is terminated in its entirety, the entire Territory. 

1.124    “Territory” means the entire world. 

1.125    “Third Party” means any Person other than Licensor, AbbVie and their respective
Affiliates. 
 1.126    “Third Party Claims” has the meaning set forth in
Section 10.1. 
 1.127    “Third Party Payments” has the meaning set
forth in Section 6.7.3(b). 
 1.128    “Third Party Provider” has the
meaning set forth in Section 3.4. 
 1.129    “Tool Molecule” means
the compound known as [*] 
 1.130    “Trademark” means any word, name, symbol, color,
designation or device or any combination thereof that functions as a source identifier, including any trademark, trade dress, brand mark, service mark, trade name, brand name, logo, business symbol or domain names, whether or not registered. 

1.131    “United States” or “U.S.” means the United States of America and its
territories and possessions (including the District of Columbia and Puerto Rico). 
 1.132    “Valid
Claim” means a claim of any issued and unexpired Patent whose validity, enforceability, or patentability has not been affected by any of the following: (a) irretrievable lapse, abandonment, revocation, dedication to the public, or
disclaimer; or (b) a holding, finding, or decision of invalidity, unenforceability, or non-patentability by a court, governmental agency, national or regional patent office, or other appropriate body that
has competent jurisdiction, such holding, finding, or decision being final and unappealable or unappealed within the time allowed for appeal. 

1.133    “Withholding Party” has the meaning set forth in Section 6.10.

 1.134    “Working Group” has the meaning set forth in Section 2.4.

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 ARTICLE 2 

COLLABORATION MANAGEMENT 

2.1    Joint Governance Committee. 

2.1.1    Formation. As soon as practical after the Effective Date (but no later than fourteen (14) days
following the Effective Date), the Parties shall establish a joint governance committee (the “Joint Governance Committee” or “JGC”). The JGC shall consist of three (3) representatives from each of the Parties,
each with the requisite experience and seniority to enable such person to make decisions on behalf of the Parties with respect to the issues falling within the jurisdiction of the JGC. From time to time, each Party may substitute one (1) or
more of its representatives to the JGC on written notice to the other Party. AbbVie shall select from its representatives the chairperson for the JGC. From time to time, AbbVie may change the representative who will serve as chairperson on written
notice to Licensor. 
 2.1.2    Specific Responsibilities. The JGC shall manage, coordinate and oversee
the performance of Research Activities by the Parties under the Research Plan, and serve as a forum to facilitate communications between the Parties regarding the Research Plan and Development activities conducted by AbbVie. In particular, the JGC
shall: 
 (a)    serve as a forum for discussing proposed Research Activities and Development activities and
periodically (no less often than annually) review the Research Plan (as may be amended) for such Research Activities, and review and approve amendments thereto, which approval will be reflected in the applicable minutes of the JGC meeting; 

(b)    oversee the conduct of Research Activities; 

(c)    discuss and determine whether any additional public disclosures shall be made concerning the Tool Molecule and the
content of any such disclosure; 
 (d)    establish secure access methods (such as secure databases) for each Party to
access Information and data generated during performance of Research Activities and other JGC related Information as contemplated under this Agreement; and 

(e)    perform such other functions as are set forth herein or as the Parties may mutually agree in writing, except where
in conflict with any provision of this Agreement. 
 2.2    General Provisions Applicable to the JGC. 

2.2.1    Meetings and Minutes. During the pendency of the Research Term, the JGC shall meet [*].
Following [*], the JGC shall meet [*], and following [*], the JGC shall meet [*], but in each case unless otherwise agreed to by the Parties. The location of such meetings shall alternate between locations designated by Licensor and locations
designated by AbbVie. The chairperson of the JGC shall be responsible for calling meetings on no less than [*] Business Days’ notice. Each Party shall make all proposals for agenda items and shall provide all appropriate information with
respect to such proposed items at least [*] Business Days in advance of the applicable meeting; provided, that under exigent circumstances requiring input by the JGC, a Party may provide its agenda items to the other Party within a shorter
period of time in advance of the 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
meeting, or may propose that there not be a specific agenda for a particular meeting, so long as the other Party consents to such later addition of such agenda items or the absence of a specific
agenda for such meeting. The chairperson of the JGC shall prepare and circulate for review and approval of the Parties minutes of each meeting within [*] days after the meeting. The Parties shall agree on the minutes of each meeting promptly, but in
no event later than the next meeting of the JGC, and such approved minutes shall be signed by each Alliance Manager. 

2.2.2    Procedural Rules. The JGC shall have the right to adopt such standing rules as shall be
necessary for its work, to the extent that such rules are not inconsistent with this Agreement. A quorum of the JGC shall exist whenever there is present at a meeting at least one (1) representative appointed by each Party. Representatives of
the Parties on the JGC may attend a meeting either in person or by telephone, video conference or similar means in which each participant can hear what is said by, and be heard by, the other participants. Representation by proxy shall be allowed.
The JGC shall take action by consensus of the representatives present at a meeting at which a quorum exists, with each Party having a single vote irrespective of the number of representatives of such Party in attendance, or by a written resolution
signed by at least one (1) representative appointed by each Party. Employees or consultants of either Party that are not representatives of the Parties on the JGC may attend meetings of the JGC; provided, that such attendees
(i) shall not vote or otherwise participate in the decision-making process of the JGC, and (ii) are bound by obligations of confidentiality and non-disclosure equivalent to those set forth in
Article 8. 
 2.2.3    Decision Making; Dispute Resolution. All decisions of the
JGC shall be by consensus. If the JGC cannot, or does not, reach consensus on an issue, then the dispute shall first be referred to the Senior Officers of the Parties, who shall confer in good faith on the resolution of the issue. Any final decision
mutually agreed to by the Senior Officers shall be conclusive and binding on the Parties. If the Senior Officers are not able to agree on the resolution of any such issue within [*] days after such issue was first referred to them, then, such
dispute shall be finally and definitively resolved by [*]; provided, however, that any such resolution may not [*], [*], without [*], then such activity or action shall not be taken and shall not be subject to any further dispute resolution unless
mutually agreed to in writing by the Parties. Disputes arising between the Parties in connection with or relating to this Agreement or any document or instrument delivered in connection herewith, and that are outside of the jurisdiction of the JGC,
shall be resolved pursuant to Section 12.6. Notwithstanding the foregoing, if [*], then prior to the expiration of the Research Term, AbbVie may extend the Research Term for a period reasonably determined to be necessary
for completion of such activities, but not to exceed six (6) months by providing written notice of such extension to Licensee.

2.2.4    Limitations on Authority. Each Party shall retain the rights, powers, and discretion granted to it
under this Agreement and no such rights, powers, or discretion shall be delegated to or vested in the JGC unless such delegation or vesting of rights is expressly provided for in this Agreement or the Parties expressly so agree in writing. The JGC
shall not have the power to amend, modify, or waive compliance with this Agreement, which may only be amended or modified as provided in Section 12.8 or compliance with which may only be waived as provided in
Section 12.11. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 2.2.5    Alliance Manager. Each Party shall appoint a
person(s) no later than [*] following the Effective Date, who shall oversee contact between the Parties for all matters between meetings of the JGC and shall have such other responsibilities as the Parties may agree in writing after the Effective
Date (each, an “Alliance Manager”). Each Party may replace its Alliance Manager at any time by notice in writing to the other Party. 

2.2.6    Discontinuation of the JGC; Provision of Reports. The JGC shall continue to exist until the first
to occur of: (a) the Parties mutually agreeing to disband the JGC; (b) Licensor providing to AbbVie written notice of its intention to disband and no longer participate in the JGC; provided, that Licensor shall not give such written
notice prior to the expiration of the Research Term; or (c) the acceptance for filing of an NDA (filed by AbbVie) with respect to the last Licensed Product then currently in Development. Once the JGC has been discontinued, any requirement of
either Party to provide Information or other materials to the JGC shall be deemed a requirement to provide such Information or other materials to the other Party. Additionally, in the event of a Change in Control of Licensor, AbbVie shall have the
right at any time and for any reason, effective upon written notice, to disband the JGC and any Information required to be provided to the JGC shall instead by delivered directly to the other Party. Upon the discontinuation of the JGC and prior to
the First Commercial Sale of the first Licensed Product, AbbVie shall provide [*] report to Licensor by [*] of each Calendar Year summarizing material Development and Commercialization activities conducted by or on behalf of AbbVie [*]. Prior to the
First Commercial Sale of the first Licensed Product, not more than [*], Licensor may request in writing a meeting with appropriate representatives of AbbVie to discuss the [*] report and the activities conducted by AbbVie thereunder. 

2.3    Interactions Between a Committee and Internal Teams. The Parties recognize that each Party possesses
an internal structure (including various committees, teams and review boards) that will be involved in administering such Party’s activities under this Agreement. Nothing contained in this Article shall prevent a Party from making routine day-to-day decisions relating to the conduct of those activities for which it has performance or other obligations hereunder, in each case in a manner consistent with the
then-current applicable plan and the terms and conditions of this Agreement. 
 2.4    Working
Groups.    From time to time, the JGC may establish and delegate duties to sub-committees or directed teams (each, a “Working Group”) on an “as-needed” basis to oversee particular projects or activities (for example, joint project team, joint biology team, and/or joint intellectual property group). Each such Working Group shall be constituted
and shall operate as the JGC determines; provided that each Working Group shall have equal representation from each Party, unless otherwise mutually agreed. Working Groups may be established on an ad hoc basis for purposes of a specific project or
on such other basis as the JGC may determine. Each Working Group and its activities shall be subject to the oversight, review and approval of, and shall report to, the JGC. In no event shall the authority of the Working Group exceed that specified
for the JGC. All decisions of a Working Group shall be by consensus. Any disagreement between the designees of AbbVie and Licensor on a Working Group shall be referred to the JGC for resolution. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 2.5    Expenses.    Each Party shall
be responsible for all travel and related costs and expenses for its members and other representatives to attend meetings of, and otherwise participate on, a Committee or other Working Group. 

ARTICLE 3 
 RESEARCH,
DEVELOPMENT AND REGULATORY 
 3.1    Research Activities. 

3.1.1    Research Plan. 

(a)    Attached hereto as Schedule 3.1.1 is the initial Research Plan for the program with
respect to the initial Licensed Compound or Licensed Product, which plan shall assign responsibility for research activities between the Parties (such activities, “Research Activities”). Unless AbbVie otherwise agrees in writing,
all Research Activities shall be designed and implemented so as to support the filing of an IND for the Licensed Product. The Parties shall conduct Research Activities in accordance with the terms and conditions of this Agreement and the Research
Plan. 
 (b)    Except as otherwise expressly provided in the Research Plan with respect to Research Activities, during
the Term, Licensor shall not, directly or indirectly, whether alone or together with a Third Party, Develop the Licensed Compound or Licensed Products for any purpose. 

3.1.2    Updates; Amendments. The JGC shall review the Research Plan covering all Research Activities at
each JGC meeting for the purpose of considering appropriate amendments thereto. The JGC shall manage (or have a Working Group manage) the proposed updating and/or amending of the Research Plan in a manner designed to have an initial draft for the
following Calendar Year prepared by [*] of the then-current Calendar Year for review and input and to obtain JGC approval no later than [*] of the then-current Calendar Year. In addition, either Party, through its representatives on the JGC, may
propose amendments to the Research Plan for Research Activities at any time.
 3.1.3    Diligence. Each
Party shall use Commercially Reasonable Efforts to perform the responsibilities assigned to it under the Research Plan for Research Activities. 

3.2    Development Responsibility. Following the expiration of the Research Term, as may be extended, AbbVie
(itself or through its Affiliates or Sublicensees) shall have the sole right to Develop Licensed Compounds and Licensed Products in the Field in the Territory at its own cost and expense (except with respect to costs and expenses, as otherwise
expressly set forth in the Research Plan). 
 3.3    Pre-Clinical and
Clinical Supply of Licensed Compounds or Licensed Products. 
 3.3.1    Supply. As between the
Parties, AbbVie shall have the sole right, at its expense, to Manufacture (or have Manufactured) and supply clinical requirements of the Licensed Compound and Licensed Products and placebo for use in the Development of Licensed Compounds or Licensed
Products as contemplated hereunder 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 3.3.2    Supply of Technology for Development
Purposes. Following the Effective Date, Licensor shall, and shall cause its Affiliates to, without additional compensation, disclose and make available to AbbVie, in whatever form and in such a manner as determined by the JGC, all
Licensor Program Know-How existing as of the Effective Date and, from time to time during the Research Term, at such frequency and manner as is directed by the JGC, such additional Licensor Program Know-How or any Joint Know-How (to the extent not already available to AbbVie) generated as of such time. Licensor, at its sole cost and expense, shall provide AbbVie with all
reasonable assistance required in order to effectuate the foregoing transfer, in each case in a timely manner. During the Research Term, AbbVie shall, and shall cause its Affiliates to, disclose and make available to Licensor, in whatever form and
in such a manner as determined by the JGC, any Information generated by AbbVie or on its behalf in the conduct of the Research Activities. 

3.4    Subcontracting. Each Party shall have the right to subcontract any of its Research Activities to a
Third Party (a “Third Party Provider”); provided, that it furnishes the other Party with advanced written notice thereof and an opportunity to consult regarding such subcontract, which notice shall specify the work to be
subcontracted, and obtains a written undertaking from the Third Party Provider that it shall be subject to the applicable terms and conditions of this Agreement, including the requirements under Section 3.1.3 and the
confidentiality provisions of Article 8. Notwithstanding the foregoing to the contrary, the provisions of this Section 3.4 shall not apply with respect to any Third Party Provider engaged by Licensor prior to the
Effective Date and listed on Schedule 3.4, to the extent such activities following the Effective Date are generally consistent with the current scope of work performed prior to the Effective Date. 

3.5    Research Costs. Each Party shall be solely responsible for and shall bear all Research Costs
incurred by it and its Affiliates in connection with the performance of the Research Activities allocated to such Party in accordance with the Research Plan. In addition, in the event [*] any Research Activity [*] the performance of such Research
Activity, then [*], within [*] days from receipt of an invoice from [*], shall reimburse [*] all the costs and expenses incurred by [*] in connection with the performance of such Research Activities; provided, however, that prior to reimbursing any
such costs and expenses [*] in accordance with [*]. 
 3.6    Regulatory Matters. 

3.6.1    Regulatory Activities. 

(a)    As between the Parties, AbbVie shall have the sole right to prepare, obtain, and maintain the Drug Approval
Applications (including the setting of the overall regulatory strategy therefor), other regulatory approvals and other submissions, and to conduct communications with the Regulatory Authorities, for Licensed Compounds or Licensed Products in the
Territory (which shall include filings of or with respect to INDs and other filings or communications with the Regulatory Authorities with respect to Research Activities). 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b)    All Regulatory Documentation (including all Regulatory Approvals
and Product Labeling) relating to the Licensed Compounds or Licensed Products with respect to the Territory shall be owned by, and shall be the sole property and held in the name of, AbbVie or its designated Affiliate, Sublicensee or designee. 

(c)    AbbVie (or its Sublicensee) shall be solely responsible, at its cost, for any recall, market suspension, or market
withdrawal in the Territory, including the execution thereof. 
 3.6.2    Data. To the extent not already
provided by Licensor pursuant to Section 3.3.2, Licensor shall provide to AbbVie copies of or access to all pre-clinical data, if any, and other Information, results, and
analyses with respect to any Research Activities that are Controlled by Licensor or any of its Affiliates, when and as such data becomes available during the Research Term. Through the later of the Research Term or IND filing, Licensor shall
support AbbVie, as may be reasonably necessary or appropriate, in filing an IND and including providing necessary documents or other materials required by Applicable Law to file an IND, if not already provided during the Research Term, in each case
in accordance with the terms and conditions of this Agreement and any applicable Research Plan. 

3.7    Compliance. Each Party shall perform or cause to be performed, any and all of its Research Activities
in good scientific manner and in compliance with all Applicable Law. 
 3.8    Records. Each of Licensor
and AbbVie shall, and shall ensure that its Third Party Providers, maintain records in sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, and in compliance with Applicable Law, which shall be complete and
accurate and shall properly reflect all work done and results achieved in the performance of its designated Research Activities for at least [*] years after the termination of this Agreement, or for such longer period as may be required by
Applicable Law. Upon request, Licensor shall provide copies of (and allow AbbVie to inspect) the records it has maintained pursuant to this Section 3.8 to AbbVie.

ARTICLE 4 

COMMERCIALIZATION 

4.1    In General. AbbVie (itself or through its Affiliates or Sublicensees) shall have the sole
right to Commercialize Licensed Compounds and Licensed Products in the Field in the Territory at its own cost and expense (except as otherwise expressly set forth herein). 

4.2    Commercialization and Development Diligence. AbbVie shall use Commercially Reasonable Efforts to:
(a) following the Research Term, Develop a Licensed Product for one indication in the United States and each Major Market, and (b) Commercialize a Licensed Product for one indication in the United States and each Major Market following
receipt of Regulatory Approval therefor in such countries; provided, that, for purposes of clarity, [*]. Licensor acknowledges and agrees that (A) AbbVie shall have the right to satisfy its diligence obligations under this Section
through its Affiliates or Sublicensees, and (B) nothing in this Section is intended, or shall be construed, to [*] In the event that [*] Licensor further acknowledges that [*] 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 4.3    Booking of Sales; Distribution. AbbVie shall have
the sole right to invoice and book sales, establish all terms of sale (including pricing and discounts) and warehousing, and distribute the Licensed Products in the Territory and to perform or cause to be performed all related services. AbbVie shall
handle all returns, recalls, or withdrawals, order processing, invoicing, collection, distribution, and inventory management with respect to the Licensed Products in the Territory. 

4.4    Product Trademarks. AbbVie shall have the sole right to determine and own the Product Trademarks to
be used with respect to the Exploitation of the Licensed Products on a worldwide basis. 
 4.5    Commercial
Supply of Licensed Compounds or Licensed Products. As between the Parties, AbbVie shall have the sole right, at its expense, to Manufacture (or have Manufactured) and supply the Licensed Compound and Licensed Products for commercial sale
in the Territory by AbbVie and its Affiliates and Sublicensees. 
 ARTICLE 5 

GRANT OF RIGHTS 

5.1    Grants to AbbVie. Licensor (on behalf of itself and its Affiliates) hereby grants to AbbVie an
exclusive (including with regard to Licensor and its Affiliates) license (or sublicense), with the right to grant sublicenses in accordance with Section 5.2, under the Licensor Patents, the Licensor Know-How, and Licensor’s interests in the Joint Patents and the Joint Know-How, to Exploit the Licensed Compounds and Licensed Products in the Field in the Territory.

 5.2    Sublicenses. AbbVie shall have the right to grant sublicenses (or further rights of reference),
through multiple tiers of sublicensees, under the licenses and rights of reference granted in Section 5.1, to its Affiliates and other Persons; provided that any such sublicenses shall be consistent with the terms
and conditions of this Agreement and AbbVie shall remain liable to Licensor for any breach of this Agreement by its Affiliates or Sublicensees. 

5.3    Distributorships. AbbVie shall have the right, in its sole discretion, to appoint its Affiliates, and
AbbVie and its Affiliates shall have the right, in their sole discretion, to appoint any other Persons (as distinct from sublicensing rights hereunder to such Affiliate or other Person), in the Territory or in any country or other jurisdiction of
the Territory, to distribute, market, and sell the Licensed Products. Where AbbVie or its Affiliates appoints such a Person and such Person is not an Affiliate of AbbVie, that Person shall be a “Distributor” for purposes of this
Agreement. 
 5.4    Co-Promotion Rights. For purposes of clarity,
AbbVie and its Affiliates shall have the right, in their sole discretion, to co-promote the Licensed Products with any other Person(s), or to appoint one (1) or more Third Parties to promote the Licensed
Products without AbbVie in all or any part of the Territory. 
 5.5    Retention of Rights. 

5.5.1    Notwithstanding the exclusive licenses granted to AbbVie pursuant to
Section 5.1, Licensor retains the right to practice under the Licensor Patents, the Licensor Know-How, Licensor’s interests in the Joint Patents and the Joint Know-How to perform (and to 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
sublicense Third Parties to perform as permitted hereunder) its obligations under the Research Plan. Except as expressly provided herein, Licensor grants no other right or license, including any
rights or licenses to the Licensor Patents, the Licensor Know-How, or any other Patent or intellectual property rights not otherwise expressly granted herein. 

5.5.2    AbbVie grants no right or license to any Patent or intellectual property rights Controlled by AbbVie not
otherwise expressly granted herein. 
 5.6    Confirmatory Patent License. Licensor shall if requested to
do so by AbbVie immediately enter into confirmatory license agreements in the form or substantially the form reasonably requested by AbbVie for purposes of recording the licenses granted under this Agreement with such patent offices in the Territory
as AbbVie considers appropriate. Until the execution of any such confirmatory licenses, so far as may be legally possible, Licensor and AbbVie shall have the same rights in respect of the Licensor Patents and be under the same obligations to each
other in all respects as if the said confirmatory licenses had been executed. 
 5.7    Exclusivity with Respect to
the Territory. 
 5.7.1    Licensor Covenant. 

(a)    During the period set forth in the following sentence, Licensor shall not, and shall cause its Affiliates (subject
to Section 5.7.2) not to (a) directly or indirectly, conduct Development (other than [*]) of, commercialize or manufacture for clinical or commercial use, any Competing Product in any country or other jurisdiction in
the Territory (b) Commercialize or Manufacture a Licensed Compound or Licensed Product, or (c) license, authorize, appoint, or otherwise enable any Third Party to directly or indirectly, manufacture, Develop, or commercialize any Competing
Product, Licensed Compound or Licensed Product in any country or other jurisdiction in the Territory. The foregoing obligations shall apply during the Term but shall cease on the Licensor Exclusivity End Date as provided in
Section 5.7.2(b), if any, and shall re-commence only on the Exclusivity Recommencement Date, if any, as provided in Section 5.7.2(c). The foregoing
obligations shall not apply, however, and Licensor and its Affiliates shall retain all rights, to research, develop, manufacture and commercialize, itself or through one or more Third Parties, any Excepted Product. 

(b)    Notwithstanding the provisions of Section 5.7.1, if, during the Term, Licensor undergoes
a Change in Control and the acquirer is either then commercializing a Competing Product in the Field, or has in Development any Competing Product in the Field, such Change in Control, and the commercialization (or development and subsequent
commercialization, if such Competing Product obtains Regulatory Approval) of such Competing Product in the Field by such acquirer or any of its Affiliates, shall not constitute a breach of Section 5.7.1; provided, that,
such acquirer Segregates the Competing Product. 
 5.7.2    AbbVie Covenant. 

(a)    During the period beginning on the Effective Date and ending on [*], AbbVie shall not, and shall cause its
Affiliates not to, conduct an internal program to develop or commercialize a compound, other than a Licensed Compound or Licensed Product, that is [*] (any such compound, or product containing such compound, a “Restricted Product”).

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b)    Commencing on the day following [*], until the date of [*] (or,
if earlier, [*]) (such [*] date, the “AbbVie Exclusivity Start Date”), AbbVie shall have the right to conduct an internal program to develop or commercialize any Restricted Product, or to
in-license or otherwise acquire rights to and develop or commercialize any Restricted Product (such activities collectively referred to as “Competing Activities”), provided, however that
(i) AbbVie shall [*] (the “Licensor Exclusivity End Date”); and (ii) Licensor shall be released from its obligations under Section 5.7.1 as of the date of the commencement of such Competing
Activities. For clarity, AbbVie shall [*]. 
 (c)    Following the AbbVie Exclusivity Start Date, and regardless of
whether the Licensor Exclusivity End Date occurred as of such time, AbbVie shall not, and shall cause its Affiliates not to, (i) directly or indirectly, [*] involving a Restricted Product or [*] a Restricted Product, or (ii) license,
authorize, appoint, or otherwise enable any Third Party to directly or indirectly, [conduct any Phase III] involving a Restricted Product or [*] a Restricted Product [*], provided, however, if the Licensor Exclusivity End Date has occurred, AbbVie
shall have the right, upon written notice to Licensor following the AbbVie Exclusivity Date (x) to require, as of the date of receipt of such notice (the “Exclusivity Recommencement Date”) that Licensor again be obligated under
Section 5.7.1 from thereafter until the end of the Term, and (y) to include under this Agreement as Licensed Compounds and Licensed Products, all Competing Products of Licensor then-existing that were Developed after
the Licensor Exclusivity End Date (but excluding any Excepted Product). Within [forty-five (45)] days after sending such notice, AbbVie shall [*] [*] [*]. [Following [*], such Competing Products shall become Licensed Products for all purposes of
this Agreement and entitled to the payment of milestone and royalties as provided in Article 6; provided that (I) the milestone payments for such Competing Products shall be subject to the limitations on the number of
times milestones are paid for an Initial Licensed Product or Follow-On Product (e.g., if a particular milestone has already been paid for an Initial Licensed Product, no additional milestone payment
shall be made for any subsequent corresponding achievement of such milestone), (II) if a Competing Product is not an Initial Licensed Product but does not meet the criteria of a Follow-on Licensed Product,
then notwithstanding the provisions of this Agreement, such Competing Product will be deemed a Follow-On Licensed Product, and (III) AbbVie shall be entitled to deduct and off set against any royalties
due for Net Sales of such Competing Product an amount equal to [*]. If AbbVie should AbbVie not elect to so include such Competing Products under this Agreement, Licensor shall retain all rights thereto, and shall have the right, itself or through
one or more Third Parties to develop and commercialize such Competing Products in the Field and in the Territory. 

(d)    Notwithstanding the provisions of Section (a) through Section (b), if, during the
Term, (i) AbbVie or any of its Affiliates acquires (or otherwise Controls as of the effectiveness of Section (a) through Section (b), through its Competing Activities), rights to a Competing Product, such
Acquisition (or control of a Competing Product), and the commercialization of such Competing Product in the Field thereafter, shall not constitute a breach of Section 5.7.2(a) through Section (b), as applicable, if
AbbVie or such Affiliate, as applicable, (x) Divests such Competing Product within [*] of closing of the Acquisition (or [*] from the start of the AbbVie Exclusivity Start Date where AbbVie controls a Competing Product through an internal or in-licensed program arising from Competing Activities) and (y) prior to such [*], [*]; or (ii) AbbVie undergoes a Change in Control and the relevant acquirer is either then commercializing a Competing
Product in the Field, or has in Development any Competing Product 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
in the Field, such Change in Control, and the commercialization (or development and subsequent commercialization, if such Competing Product obtains Regulatory Approval) of such Competing Product
in the Field by such relevant acquirer or any of its Affiliates, shall not constitute a breach of Section 5.7.2(a); provided, that, such acquirer Segregates the Competing Product. 

ARTICLE 6 
 PAYMENTS AND
RECORDS 
 6.1    Upfront Payment. No later than [*] days following the Effective Date, AbbVie shall
pay Licensor an upfront amount equal to Fifteen Million Dollars ($15,000,000). Such upfront payment shall be non-creditable and non-refundable. 

6.2    Development Milestones for Initial Licensed Product. In partial consideration of the rights granted
by Licensor to AbbVie hereunder and subject to the terms and conditions set forth in this Agreement, AbbVie shall pay to Licensor a non-creditable, non-refundable
milestone payment within [*] days after the achievement of each of the following milestones, calculated as follows: 

6.2.1    upon [*] for the first time with respect to a Licensed Product, [*]; 

6.2.2    upon [*] for the first time with respect to a Licensed Product, [*]; 

6.2.3    upon [*] for the first time with respect to a Licensed Product, [*]; 

6.2.4    upon [*] for the first time with respect to a Licensed Product, [*]. 

If a development milestone set forth in this Section 6.2 for a Licensed Product becomes due before an earlier listed development
milestone for the same Licensed Product, then the earlier listed development milestone shall become payable upon the achievement of the later listed development for the same Licensed Product. For example, if the milestone for [*] for a Licensed
Product set forth in Section 6.2.4 becomes due, and the milestone for [*] set forth in Section 6.2.3 had not yet become due, then upon achievement of the milestone set forth in
Section 6.2.4, the milestone set forth in Section 6.2.3 also would become due. 
 Each milestone payment
in this Section 6.2 shall be payable only upon the first achievement of such milestone and no amounts shall be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed
Product, except for the milestones due with respect to a Follow-On Licensed Product. For clarity, if, for example, a Licensed Product achieves the milestone event set forth in
Section 6.2.1, but later fails and a separate Licensed Product (which is not a Follow-On Licensed Product) achieves such event subsequently, no additional milestone payment would be
due for such achievement of such event, but should such second Licensed Product achieve the milestone event in Section 6.2.2, then a milestone would be owed on such achievement. The maximum aggregate amount payable by
AbbVie pursuant to this Section 6.2 is [*]. 
 6.3    Development Milestones
for Follow-On Licensed Product. In partial consideration of the rights granted by Licensor to AbbVie hereunder and subject to the terms and conditions set forth in this Agreement, AbbVie shall pay to
Licensor a non-creditable, non-refundable milestone payment within [*] days after the achievement of each of the following milestones, calculated as follows: 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 6.3.1    upon [*] for a
Follow-On Licensed Product, [*]; and 
 6.3.2    upon [*] for a Follow-On Licensed Product, [*]. 
 Each milestone payment in this Section 6.3 shall be payable
only upon the first achievement of such milestone and no amounts shall be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed Product. The maximum aggregate amount payable by AbbVie pursuant to
this Section 6.3 is [*]. 
 6.4    First Commercial Sales Milestones for Initial
Licensed Product. In partial consideration of the rights granted by Licensor to AbbVie hereunder and subject to the terms and conditions set forth in this Agreement, AbbVie shall pay to Licensor a
non-creditable, non-refundable milestone payment within [*] days after the achievement of each of the following milestones, calculated as follows: 

6.4.1    upon First Commercial Sale for the first Licensed Product to achieve such event in [*], [*]; 

6.4.2    upon First Commercial Sale for the first Licensed Product to achieve such event in [*], [*]; 

6.4.3    upon First Commercial Sale for the first Licensed Product to achieve such event in [*], [*]; 

Each milestone payment in this Section 6.4 shall be payable only upon the first achievement of such milestone and no amounts shall
be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed Product. The maximum aggregate amount payable by AbbVie pursuant to this Section 6.4 is [*]. 

6.5    First Commercial Sales Milestones for Follow-On Licensed
Product. In partial consideration of the rights granted by Licensor to AbbVie hereunder and subject to the terms and conditions set forth in this Agreement, AbbVie shall pay to Licensor a non-creditable,
non-refundable milestone payment within [*] days after the achievement of each of the following milestones, calculated as follows: 

6.5.1    upon First Commercial Sale for a Follow-On Licensed Product in
[*], [*]; 
 6.5.2    upon First Commercial Sale for a Follow-On Licensed
Product in [*], [*]; and 
 6.5.3    upon First Commercial Sale for a
Follow-On Product in [*], [*]. 
 Each milestone payment in this Section 6.5 shall be
payable only upon the first achievement of such milestone and no amounts shall be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed Product. The maximum aggregate amount payable by AbbVie
pursuant to this Section 6.5 is [*]. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 6.6    Sales-Based Milestones. 

6.6.1    In partial consideration of the license rights granted by Licensor to AbbVie hereunder, subject to
Section 6.6.2, in the event that the Net Sales of a particular Licensed Product (whether or not an Initial Licensed Product or a Follow-On Licensed Product) in a given Calendar Year
exceeds a threshold (each, an “Annual Net Sales Milestone Threshold”) set forth in the left-hand column of the table immediately below, AbbVie shall pay to Licensor a non-creditable, non-refundable milestone payment (each, a “Annual Net Sales-Based Milestone Payment”) in the corresponding amount set forth in the right-hand column of the table immediately below. In the
event that in a given Calendar Year more than one (1) Annual Net Sales Milestone Threshold is exceeded, AbbVie shall pay to Licensor a separate non-creditable,
non-refundable Annual Net Sales-Based Milestone Payment with respect to each Annual Net Sales Milestone Threshold that is exceeded in such Calendar Year. Each such milestone payment shall be due within [*]days
of the end of the Calendar Year in which such milestone was achieved (each, an “Annual Net Sales-Based Milestone Payment Date”). 
  

			
	 Threshold Annual Net Sales Levels for a particular Licensed
Product
	  	Payment
Amount
	 Greater than [*], but less than or equal to [*]
	  	[*]
	 Greater than [*]
	  	[*]

 6.6.2    Notwithstanding anything contained in
Section 6.6.1, each milestone payment in this Section 6.6 shall be payable only upon the first achievement of such milestone in a given Calendar Year, and no amounts shall be due for subsequent or
repeated achievements of such milestone in subsequent Calendar Years. The maximum aggregate amount payable by AbbVie pursuant to this Section is [*] for all Initial Licensed Products, and [*] for all Follow-On
Licensed Products. 
 6.7    Royalties. 

6.7.1    Royalty Rates. As further consideration for the rights granted to AbbVie hereunder, subject to
Section 6.7.3, commencing upon the First Commercial Sale of a Licensed Product in the Territory, on a Licensed Product-by-Licensed Product
basis, AbbVie shall pay to Licensor a royalty on Net Sales of each Licensed Product (whether or not an Initial Licensed Product or a Follow-On Product) in the Territory (excluding Net Sales of each Licensed
Product in any country or other jurisdiction in the Territory for which the Royalty Term for such Licensed Product in such country or other jurisdiction has expired) during each Calendar Year at the following rates: 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	 Net Sales in the Territory of each Licensed Product containing the

same Licensed Compound in a Calendar Year
	  	Royalty Rate
	 For that portion of aggregate Net Sales of each Licensed Product containing the same Licensed
Compound in the Territory during a Calendar Year equal to or less than [*]
	  	[*]
	 For that portion of aggregate Net Sales of each Licensed Product containing the same Licensed
Compound in the Territory during a Calendar Year greater than [*] but equal to or less than [*]
	  	[*]
	 For that portion of aggregate Net Sales of each Licensed Product containing the same Licensed
Compound in the Territory during a Calendar Year greater than [*]
	  	[*]

 The royalty tiers set forth in the table above shall only aggregate Licensed Products that contain the same Licensed
Compounds. For example, if Net Sales for all Licensed Products containing the same Licensed Compound in the Territory during a Calendar Year are [*], and Net Sales for all Licensed Products containing a different Licensed Compound in the Territory
during such Calendar Year are [*], then all such Net Sales for both sets of Licensed Products during such Calendar Year shall bear a royalty rate of [*]. 

With respect to each Licensed Product in each country or other jurisdiction in the Territory, from and after the expiration of the Royalty Term for such
Licensed Product in such country or other jurisdiction, Net Sales of such Licensed Product in such country or other jurisdiction shall be excluded for purposes of calculating the Net Sales thresholds and ceilings set forth in this
Section 6.7.1. 
 6.7.2    Royalty Term. AbbVie shall have no obligation to pay
any royalty with respect to Net Sales of any Licensed Product in any country or other jurisdiction after the Royalty Term for such Licensed Product in such country or other jurisdiction has expired. 

6.7.3    Reductions. Notwithstanding the foregoing: 

(a)    in the event that in any country or other jurisdiction in the Territory during the Royalty Term for a Licensed
Product there is Generic Competition in such country or other jurisdiction, then AbbVie shall for the remainder of the Royalty Term for such Licensed Product in such country or other jurisdiction thereafter pay to Licensor a reduced royalty rate
equal to [*] of the applicable royalty rates set forth in Section 6.7.1 in such country or other jurisdiction. For purposes herein, “Generic Competition” means, on a country or other jurisdiction and
Licensed Product basis, the unit volume of a Generic Product(s) sold in such country or other jurisdiction by one (1) or more Third Party(ies) in a Calendar Quarter is at least [*] Unless otherwise agreed by the Parties, the unit volumes of
each Generic Product sold during a Calendar Quarter shall be as reported by [*]] or its successor or any other independent sales auditing firm reasonably agreed upon by the Parties; 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (b)    in the event that AbbVie enters into an agreement with a Third
Party in order to obtain a license or right under a Patent or intellectual property right owned or controlled by such Third Party in a particular country or other jurisdiction pursuant to Section 7.5, AbbVie shall be
entitled to deduct from any royalties payable hereunder with respect to that country or other jurisdiction [*] of all royalties paid to such Third Party in respect of such agreement (“Third Party Payments”); provided, however in no
event shall such deduction result in the royalty rate being reduced pursuant to this Section 6.7.3(b) below the Floor Rate; and 

(c)    in the event that, and in such case from and after the date on which, a Licensed Product is sold in a country or
other jurisdiction and is not either or both (i) retained or otherwise maintain Regulatory Exclusivity in such jurisdiction or country, or (ii) covered by a Valid Claim of a Licensor Patent that claims the Licensed Compound as a
composition of matter, then the royalty rate set forth in Section 6.7.1 with respect to such country or other jurisdiction (for purposes of calculations under Section 6.7.1), shall be reduced
by [*] of the applicable royalty rates set forth in Section 6.7.1 in such country or other jurisdiction. 

6.8    Royalty Payments and Reports. AbbVie shall calculate all amounts payable to Licensor pursuant to
Section 6.7 at the end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance with Section 6.9. AbbVie shall pay to Licensor the royalty amounts due with respect to a
given Calendar Quarter within [*] days after the end of such Calendar Quarter. Each payment of royalties due to Licensor shall be accompanied by a statement of the amount of Net Sales of each Licensed Product in each country or other jurisdiction
the Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation of the amount of royalty payment due on such Net Sales for such Calendar Quarter. Notwithstanding
the foregoing, AbbVie shall provide such additional Calendar Quarter financial reports as reasonable necessary for Licensor to comply with any public company financial reporting obligations. To the extent there are revisions to the Accounting
Standards (or subsequent reporting requirements established by the stock exchange on which Licensor’s securities are listed) after the Effective Date that would require Licensor to report additional financial information, then at the request of
Licensor the Parties shall discuss in good faith such requirements and what, if any, information AbbVie may provide to satisfy such requirements. 

6.9    Mode of Payment. All payments to either Party under this Agreement shall be made by deposit of
Dollars in the requisite amount to such bank account as the receiving Party may from time to time designate by notice to the paying Party. For the purpose of calculating any sums due under, or otherwise reimbursable pursuant to, this Agreement
(including the calculation of Net Sales expressed in currencies other than Dollars), a Party shall convert any amount expressed in a foreign currency into Dollar equivalents using its, its Affiliate’s or Sublicensee’s standard conversion
methodology consistent with Accounting Standards. 
 6.10    Withholding Taxes. Where any sum due
to be paid to either Party hereunder is subject to any withholding or similar tax, the Parties shall use their commercially reasonable efforts to do all such acts and things and to sign all such documents as will enable them to take advantage of any
applicable double taxation agreement or treaty. In the event there is no applicable double taxation agreement or treaty, or if an applicable double taxation agreement or treaty reduces but does not eliminate such withholding or similar tax, the
payor shall remit such withholding or 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
similar tax to the appropriate government authority on a timely basis, deduct the amount paid from the amount due to payee and secure and send to payee the best available evidence of the payment
of such withholding or similar tax. Any such amounts deducted by the payor in respect of such withholding or similar tax shall be treated as having been paid by the payor for purposes of this Agreement. Each Party shall furnish to the Withholding
Party such forms, certificates and documentation as may be necessary or appropriate, and that are legally required, to obtain any reduction of, credit for, or exemption from the withholding of any tax. In the event that a government authority
retroactively determines that a payment made by a Party to the other pursuant to this Agreement should have been subject to withholding or similar (or to additional withholding or similar) taxes, and such Party (the “Withholding
Party”) remits such withholding or similar taxes to the government authority, including any interest and penalties that may be imposed thereon (together with the tax paid, the “Amount”), the Withholding Party will have the
right (a) to offset the Amount against future payment obligations of the Withholding Party under this Agreement, (b) to invoice the other Party for the Amount (which shall be payable by the other Party within [*]days of its receipt of such
invoice) or (c) to pursue reimbursement of the Amount by any other available remedy. 
 6.11    Indirect
Taxes. All payments are exclusive of value added taxes, sales taxes, consumption taxes and other similar taxes (the “Indirect Taxes”). If any Indirect Taxes are chargeable in respect of any payments, the paying Party
shall pay such Indirect Taxes at the applicable rate in respect of such payments following receipt, where applicable, of an Indirect Taxes invoice in the appropriate form issued by the receiving Party in respect of those payments. The Parties shall
issue invoices for all amounts payable under this Agreement consistent with Indirect Tax requirements and irrespective of whether the sums may be netted for settlement purposes. If the Indirect Taxes originally paid or otherwise borne by the paying
Party are in whole or in part subsequently determined not to have been chargeable, all necessary steps will be taken by the receiving Party to receive a refund of these undue Indirect Taxes from the applicable governmental authority or other fiscal
authority and any amount of undue Indirect Taxes repaid by such authority to the receiving Party will be transferred to the paying Party within [*] days of receipt. 

6.12    Interest on Late Payments. If any payment due to either Party under this Agreement is not
paid when due, then such paying Party shall pay interest thereon (before and after any judgment) at an annual rate (but with interest accruing on a daily basis) of [*], such interest to run from the date on which payment of such sum became due until
payment thereof in full together with such interest. 
 6.13    Audit. AbbVie shall, and shall
cause its Affiliates to, keep complete books and records pertaining to Net Sales of Licensed Products in sufficient detail to calculate all amounts payable hereunder. At the request of Licensor, AbbVie shall permit an independent public accounting
firm of nationally recognized standing designated by Licensor and reasonably acceptable to AbbVie, at reasonable times during normal business hours and upon reasonable notice, to audit the books and records maintained pursuant to this
Section 6.13 to ensure the accuracy of all reports and payments made hereunder. Such examinations may not (a) be conducted for any Calendar Quarter more than [*] years after the end of such quarter, (b) be
conducted more than [*] period or (c) be repeated for any Calendar Quarter. The accounting firm shall disclose only whether the reports are correct or not, and the specific details concerning any

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
discrepancies. No other information shall be shared. Except as provided below, the cost of this audit shall be borne by Licensor, unless the audit reveals a variance of more than the greater of
[*] from the reported amounts or [*], in which case AbbVie shall bear the cost of the audit. 
 6.14    Audit
Dispute. In the event of a dispute with respect to any audit under Section 6.13, Licensor and AbbVie shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable
resolution of any such dispute within [*] days, the dispute shall be submitted for resolution to a certified public accounting firm jointly selected by each Party’s certified public accountants or to such other Person as the Parties shall
mutually agree (the “Audit Arbitrator”). The decision of the Audit Arbitrator shall be final and the costs of such arbitration as well as the initial audit shall be borne between the Parties in such manner as the Audit Arbitrator
shall determine. Not later than [*] days after such decision and in accordance with such decision, the audited Party shall pay the additional amounts, with interest from the date originally due as provided in
Section 6.12, or the auditing Party shall reimburse the excess payments, as applicable. 

6.15    Confidentiality. The receiving Party shall treat all information subject to review under this
Article 6 in accordance with the confidentiality provisions of ARTICLE 8 and the Parties shall cause the Audit Arbitrator to enter into a reasonably acceptable confidentiality agreement with the audited Party
obligating such firm to retain all such financial information in confidence pursuant to such confidentiality agreement. 

6.16    No Other Compensation.    Each Party hereby agrees that the terms of this
Agreement fully define all consideration, compensation and benefits, monetary or otherwise, to be paid, granted or delivered by one Party to the other Party in connection with the transactions contemplated herein. Neither Party previously has paid
or entered into any other commitment to pay, whether orally or in writing, any of the other Party’s employees, directly or indirectly, any consideration, compensation or benefits, monetary or otherwise, in connection with the transaction
contemplated herein. 
 6.17    Responsibility for Third Party Payments. Licensor shall be solely
responsible for and shall bear any amounts payable under any Third Party license or other agreement entered into by it directed to intellectual property that is reasonably necessary to Exploit a Licensed Compound or Licensed Product, including any
amounts owed under any license agreement. 
 ARTICLE 7 

INTELLECTUAL PROPERTY 

7.1    Invention Ownership. 

7.1.1    As between the Parties, each Party will own all right, title, and interest in and to all inventions that
are conceived solely by or on behalf of such Party, independent of the other Party, in the course of such Party’s and its Affiliates’ performance of its activities under this Agreement (each a “Sole Invention”), and all
Patents claiming or covering such Sole Invention. 
 7.1.2    The Parties or their Affiliates shall jointly own
all inventions conceived jointly by employees and agents of AbbVie or its Affiliates, on the one hand, and employees and agents of Licensor or its Affiliates, on the other hand, in the course of performing activities under

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
this Agreement (“Joint Inventions”), on the basis of each Party (or its Affiliate, as applicable) having an undivided interest in the whole without a duty to account to the other
Party. To the extent not inconsistent with any terminal disclaimer, each Party and its Affiliates shall have the right to sell or otherwise transfer its interest in such Joint Invention, and related Joint Patent Rights, to its Affiliates or Third
Parties, in each case without the consent of the other Party, so long as such sale or transfer is subject to the licenses granted pursuant to this Agreement and is otherwise consistent with this Agreement. 

7.1.3    Inventorship will be determined according to United States Patent Law (without reference to any conflict
of law principles). 
 7.2    Maintenance and Prosecution of Patents. 

7.2.1    Patent Prosecution and Maintenance of Licensor Program Patents and Joint Patents During the Research
Term. During the Research Term, Licensor shall, through the use of internal or outside counsel reasonably acceptable to AbbVie, prepare, file, prosecute, and maintain the Licensor Program Patents and Joint Patents worldwide, at Licensor’s
sole cost and expense except for Joint Patents, the costs of which the Parties shall share equally. During such period, Licensor shall keep AbbVie fully informed of all significant or material steps with regard to the preparation, filing,
prosecution, and maintenance of Licensor Program Patents and Joint Patents, including by providing AbbVie with a copy of material communications to and from any patent authority in the Territory regarding such Licensor Patents and Joint Patents, and
by providing AbbVie drafts of any material filings or responses to be made to such patent authorities in the Territory sufficiently in advance of submitting such filings or responses so as to allow for a reasonable opportunity for AbbVie to review
and comment thereon. With respect to Licensor Patents and Joint Patents, Licensor will take all reasonable comments made by, and otherwise act in accordance with the reasonable instructions provided by, AbbVie on matters related to prosecution,
maintenance and enforcement related to Licensor Program Patents and Joint Patents. Licensor shall promptly inform AbbVie of any adversarial patent office proceeding or sua sponte filing, including a request for, or filing or declaration of, any
interference, opposition, or reexamination relating to a Licensor Program Patent or Joint Patent in the Territory. The Parties shall thereafter consult and cooperate to determine a course of action with respect to any such proceeding in the
Territory and Licensor shall take all reasonable comments and otherwise act in accordance with AbbVie’s reasonable instructions. Licensor shall not initiate any such adversarial patent office proceeding relating to a Licensor Program Patent or
Joint Patent in the Territory without first consulting AbbVie and obtaining the prior written consent of AbbVie, such consent not to be unreasonably withheld, conditioned or delayed. In the event that Licensor (i) decides not to file a Licensor
Program Patent in a country or other jurisdiction in the Territory where AbbVie has requested such a filing be made, or (ii) upon filing any Licensor Program Patent or Joint Patent, Licensor intends to abandon such Licensor Program Patent or
Joint Patent, then in each case Licensor shall provide reasonable prior written notice to AbbVie of such intention (which notice shall, in any event, be given no later than [*] days prior to the next deadline for any action that may be taken with
respect to such Licensor Program Patent or Joint Patent in such country or other jurisdiction). AbbVie shall thereupon have the option, in its sole discretion, to assume the control and direction of the preparation, filing, prosecution, and
maintenance of such Licensor Program Patent or Joint Patent at its sole cost and expense in such country or other jurisdiction, and AbbVie shall have the right to offset its costs incurred in such preparation, filing, prosecution, and maintenance
during the Research Term against any royalties owed with respect to Licensed Products in the relevant country(ies). 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 7.2.2    Patent Prosecution and Maintenance of Licensor
Program Patents and Joint Patents After the Research Term. Following the expiration of the Research Term, AbbVie shall take over and assume, through the use of internal or outside counsel reasonably acceptable to Licensor, the prosecution and
maintenance of the Licensor Program Patents and Joint Patents worldwide. At such time, the Parties’ respective patent counsel shall discuss in good faith whether a Patent included in the Licensor Program Patents or Joint Patents should be filed
or maintained in the Tier A, Tier B, or Tier C countries included on Schedule 7.2.2. AbbVie shall thereafter pay for the costs and expenses of the prosecution and maintenance of the Licensor Program Patents and Joint Patents incurred after
assumption thereof. In connection therewith, Licensor shall promptly transfer and provide to AbbVie all information and documents (including any necessary powers of attorney) reasonably requested by AbbVie to assume control of such prosecution and
maintenance. Upon assumption of such prosecution and maintenance, AbbVie shall keep Licensor reasonably informed of all significant or material steps with regard to the preparation, filing, prosecution, and maintenance of Licensor Program Patents
and Joint Patents, including by providing Licensor with a copy of material communications to and from any patent authority in the Territory regarding such Licensor Program Patents, and by providing Licensor drafts of any material filings or
responses to be made to such patent authorities in the Territory sufficiently in advance of submitting such filings or responses so as to allow for a reasonable opportunity for Licensor to review and comment thereon. In the event that AbbVie
(a) decides not to prepare, file, prosecute, or maintain a Licensor Program Patent or Joint Patent in a country or other jurisdiction in the Territory, or (b) upon filing any such Licensor Program Patent or Joint Patent, AbbVie intends to
abandon such Licensor Program Patent or Joint Patent, then in each case AbbVie shall provide reasonable prior written notice to Licensor of such intention (which notice shall, in any event, be given no later than [*] days prior to the next deadline
for any action that may be taken with respect to such Licensor Program Patent or Joint Patent in such country or other jurisdiction). Licensor shall thereupon have the option by providing written notice to AbbVie within [*] days after receiving
notice from AbbVie of its intention to abandon or otherwise not prosecute or maintain such Patents, in its sole discretion, to assume the control and direction of the preparation, filing, prosecution, and maintenance of such Licensor Program Patent
or Joint Patent at its sole cost and expense in such country or other jurisdiction, and if (i) the Parties previously agreed that the applicable Patent should be prosecuted in such country or jurisdiction as set forth above, and
(ii) AbbVie failed to use Commercially Reasonable Efforts to prosecute such Licensor Program Patent or Joint Patent in such country or jurisdiction, then AbbVie’s license under such Licensor Program Patent or Joint Patent in such country
or jurisdiction shall terminate upon Licensor exercising such option. 
 7.2.3    Cooperation. The Parties
agree to cooperate fully in the preparation, filing, prosecution, and maintenance of the Licensor Program Patents and Joint Patents in the Territory under this Agreement. 

7.2.4    Patent Term Extension and Supplementary Protection Certificate. AbbVie shall be responsible for
making decisions regarding patent term adjustments and patent term extensions, including supplementary protection certificates and any other extensions that are now or become available in the future, wherever applicable, for Licensor Program Patents
and any Joint Patents in any country or other jurisdiction and for applying, at its cost and expense, for any extension or supplementary protection certificate with respect to such Patents in the Territory. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 7.2.5    Patent Listings. AbbVie shall have the sole right
to make all Patent filings with Regulatory Authorities in the Territory with respect to Licensor Program Patents and Joint Patents, including as required or allowed (a) in the United States, in the FDA’s Orange Book, and (b) other
international equivalents or like procedures. Licensor shall (i) provide to AbbVie all Information, including a correct and complete list of Licensor Program Patents covering any Licensed Product or otherwise necessary or reasonably useful to
enable AbbVie to make such filings with Regulatory Authorities in the Territory with respect to such Patents, and (ii) cooperate with AbbVie’s reasonable requests in connection therewith, including meeting any submission deadlines, in each
case ((i) and (ii)), to the extent required or permitted by Applicable Law. 
 7.2.6    European Patents.
AbbVie shall have the sole right to decide whether a European Patent within Licensor Program Patents or Joint Patents should be validated as a Unitary Patent, whether and when such European Patent should be opted out of or opted in to the
jurisdiction of the Unified Patent Court (UPC) (including withdrawal of an opt-out), as well as any other issues concerning the jurisdiction of the UPC in connection with Licensor Program Patents or Joint
Patents. Licensor shall, at AbbVie’s cost and expense, cooperate with AbbVie, provide to AbbVie and submit to authorities all necessary documents to effect such decision. 

7.3    Enforcement and Defense of Patents. 

7.3.1    Enforcement and Defense of Licensor Patents. Each Party shall promptly notify the other Party in
writing of any alleged or threatened (i) infringement of the Licensor Patents by a Third Party (including alleged or threatened infringement based on the development, commercialization, or an application to market a product containing a
Licensed Compound or any Licensed Product in the Territory (the “Product Infringement”)), (ii) assertion of any invalidity, unpatentability or unenforceability of any of the Licensor Program Patents or Joint Patents by any Third
Party, in each case in the Territory of which such Party becomes aware. AbbVie shall have the first right, but not the obligation, to prosecute any Product Infringement under the Licensor Program Patents and Joint Patents and/or defend any such
invalidity, unpatentability or unenforceability claim the Territory (the “AbbVie Prosecuted/Defense Claims”) and AbbVie shall retain control of the prosecution and/or defense of such claim, suit or proceeding. In the event AbbVie
prosecutes or defends any AbbVie Prosecuted/Defense Claims, Licensor shall, at the written request of AbbVie, join as a party to such claim, suit, or proceeding in the Territory and participate with its own counsel at its own expense;
provided that AbbVie shall retain control of the prosecution or defense of such claim, suit, or proceeding. If AbbVie does not take commercially reasonable steps to prosecute any AbbVie Prosecuted/Defense Claims within [*] days following the
first notice provided above with respect to the AbbVie Prosecuted/Defense Claims, then Licensor may prosecute or defend the AbbVie Prosecuted/Defense Claims at its own expense. 

7.3.2    Generic Competition. If either Party receives a notice of certification regarding the Licensor
Patents pursuant to the U.S. “Drug Price Competition and Patent Term Restoration Act” of 1984 (21 United States Code §355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV)) (“ANDA Act”) or receives any equivalent or similar
certification or notice in any other jurisdiction, it shall 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
(i) promptly notify the other Party in writing identifying the alleged applicant or potential applicant and furnishing the information upon which determination is based and (ii) provide
the other Party with a copy of any such notice of certification within [*] Business Days of the date of receipt and the Parties’ rights and obligations with respect to any legal action as a result of such certification shall be as set forth in
Section 7.3.1. 
 7.3.3    Cooperation. The Parties agree to cooperate fully in
any infringement or defense action pursuant to this Section 7.3. Where a Party brings such an action or defends a claim, the other Party shall, where necessary, furnish a power of attorney solely for such purpose or shall
join in, or be named as a necessary party to, such action. Unless otherwise set forth herein, the Party entitled under Section 7.3.1 to bring any patent infringement litigation or defend any invalidity, unpatentability or
unenforceability claim in accordance with this Section 7.3 shall have the right to settle such claim; provided that neither Party shall have the right to settle any litigation under this
Section 7.3 in a manner that imposes any costs or liability on, or involves any admission by, the other Party, without the express written consent of such other Party. The Party commencing the litigation or defending any
claims shall provide the other Party with copies of all pleadings and other documents filed with the court and shall consider reasonable input from the other Party during the course of the proceedings. 

7.3.4    Recovery. Any recovery realized as a result of such litigation described in
Section 7.3.1 (whether by way of settlement or otherwise) shall be first, allocated to reimburse the Parties for their costs and expenses in making such recovery (which amounts shall be allocated pro rata if insufficient to
cover the totality of such expenses). Any remainder after such reimbursement is made shall be shared as follows: 

(a)    If AbbVie is the Party enforcing or defending such claim, [*]; and 

(b)    If Licensor is the Party enforcing or defending such claim, [*]. 

7.4    Infringement Claims by Third Parties. If the manufacture, sale, or use of a Licensed Compound
or Licensed Product in the Territory pursuant to this Agreement results in, or may result in, any claim, suit, or proceeding by a Third Party alleging patent infringement by AbbVie (or its Affiliates or Sublicensees), AbbVie shall promptly
notify Licensor thereof in writing. AbbVie shall have the first right, but not the obligation, to defend and control the defense of any such claim, suit, or proceeding at its own expense (but subject to deduction as provided below), using counsel of
its own choice. Licensor may participate in any such claim, suit, or proceeding with counsel of its choice at its own expense. Without limitation of the foregoing, if AbbVie finds it necessary or desirable to join Licensor as a party to any such
action, Licensor shall execute all papers and perform such acts as shall be reasonably required. If AbbVie elects (in a written communication submitted to Licensor within a reasonable amount of time after notice of the alleged patent infringement)
not to defend or control the defense of, or otherwise fails to initiate and maintain the defense of, any such claim, suit, or proceeding, within such time periods so that Licensor is not prejudiced by any delays, Licensor may conduct and control the
defense of any such claim, suit, or proceeding at its own expense. Each Party shall keep the other Party reasonably informed of all material developments in connection with any such claim, suit, or proceeding.    Any recoveries
by a Party of any sanctions awarded to such Party and against a party asserting a claim being defended under this Section 7.4 shall be applied as follows: such recovery shall be applied first to reimburse AbbVie and/or
Licensor for its reasonable out-of-pocket costs of defending such claim, suit, or proceedings, and (b) the balance of any such recoveries [*] shall be [*]. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 7.5    Third Party Licenses. If in the reasonable opinion
of AbbVie, the Development, Manufacture, or Commercialization of any Licensed Compound or Licensed Product by AbbVie, any of its Affiliates, or any of its or their Sublicensees infringes or misappropriates any Patent, trade secret, or other
intellectual property right of a Third Party in any country or other jurisdiction in the Territory, such that AbbVie, any of its Affiliates or any of its or their Sublicensees cannot Develop, Manufacture, or Commercialize such Licensed Compound or
Licensed Product in such country or other jurisdiction without infringing such Patent, trade secret, or other intellectual property right of such Third Party, then as between the Parties AbbVie shall have the sole right, but not the obligation, to
negotiate and obtain a license from such Third Party as necessary for AbbVie and its Affiliates, and its and their Sublicensees to Develop, Manufacture, and Commercialize Licensed Compound and Licensed Products in such country or other jurisdiction.

 7.6    Product Trademarks. AbbVie shall own all right, title, and interest to the
Product Trademarks in the Territory, and shall be responsible for the registration, prosecution, maintenance and enforcement thereof. All costs and expenses of registering, prosecuting, maintaining and enforcing the Product Trademarks shall be borne
solely by AbbVie. 
 7.7    Inventor’s Remuneration.    Each Party shall be
solely responsible for any remuneration that may be due such Party’s inventors under any applicable inventor remuneration laws. 

7.8    Licensor Patents.    Licensor shall be solely responsible for the prosecution and
maintenance of the Licensor Patents that are not Licensor Program Patents and Joint Patents (such Patents, “Licensor Prosecuted Patents”). Licensor shall keep AbbVie reasonably informed of all significant or material steps with
regard to the preparation, filing, prosecution, and maintenance of Licensor Prosecuted Patents (but only in the event that Licensor is aware that any such Licensor Prosecuted Patent covers the Exploitation of a Licensed Compound or Licensed
Product); provided, however, that Licensor shall not be required to provide AbbVie with a copy of any communications to and from any patent authority in the Territory regarding such Licensor Prosecuted Patents, or provide AbbVie drafts of any
filings or responses to be made to such patent authorities in the Territory. 
 ARTICLE 8 

CONFIDENTIALITY AND NON-DISCLOSURE 

8.1    Licensor Program Know-How. Licensor recognizes that by
reason of AbbVie’s status as an exclusive licensee pursuant to the grants under Section 5.1, AbbVie has an interest in Licensor maintaining the confidentiality of certain information of Licensor. Accordingly, during
the Term, Licensor shall, and shall cause its Affiliates and its and their respective officers, directors, employees, and agents to, keep completely confidential, and not publish or otherwise disclose, and not use directly or indirectly for any
purpose other than to fulfill Licensor’s obligations hereunder any Licensor Program Know-How; except to the extent (a) the Licensor Program Know-How is in the
public domain as of the Effective Date, or thereafter is placed into 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
the public domain through no fault of Licensor, its Affiliates or any of its or their respective officers, directors, employees, or agents; (b) such disclosure is expressly permitted under
Section 8.3, or (c) such disclosure is otherwise expressly permitted by the terms of this Agreement. For purposes of Section 8.3, each Party shall be deemed to be the disclosing Party with
respect to Licensor Program Know-How under Section 8.3. For clarity, it is expressly understood and agreed that Licensor shall have the right to use, and to disclose to Third Parties
any Institutional Licensor Know-How for use in the research, development or commercialization of compounds or products that are other than Licensed Compounds or Licensed Products, subject to the exclusivity
obligations of Licensor under Section 5.7.1. 
 8.2    Confidentiality
Obligations. At all times during the Term and for a period of [*] years following termination or expiration hereof in its entirety, each Party shall, and shall cause its officers, directors, employees and agents to, keep confidential and
not publish or otherwise disclose to a Third Party and not use, directly or indirectly, for any purpose, any Confidential Information furnished or otherwise made known to it, directly or indirectly, by the other Party, except to the extent such
disclosure or use is expressly permitted by the terms of this Agreement or is reasonably necessary or useful for the performance of, or the exercise of such Party’s rights under, this Agreement. Notwithstanding the foregoing, to the extent the
receiving Party can demonstrate by documentation or other competent proof, the confidentiality and non-use obligations under this Section 8.2 with respect to any Confidential
Information shall not include any information that: 
 8.2.1    has been published by a Third Party or otherwise
is or hereafter becomes part of the public domain by public use, publication, general knowledge or the like through no wrongful act, fault or negligence on the part of the receiving Party; 

8.2.2    has been in the receiving Party’s possession prior to disclosure by the disclosing Party without any
obligation of confidentiality with respect to such information; provided that the foregoing exception shall not apply with respect to Regulatory Documentation or Joint Know-How; 

8.2.3    is subsequently received by the receiving Party from a Third Party without restriction and without breach
of any agreement between such Third Party and the disclosing Party; 
 8.2.4    that is generally made available
to Third Parties by the Disclosing Party without restriction on disclosure; or 
 8.2.5    have been
independently developed by or for the receiving Party without reference to, or use or disclosure of, the disclosing Party’s Confidential Information; provided that the foregoing exception shall not apply with respect to Regulatory
Documentation or Joint Know-How. 
 8.3    Permitted
Disclosures. Each Party may disclose Confidential Information to the extent that such disclosure is: 

8.3.1    in the reasonable opinion of the receiving Party’s legal counsel, required to be disclosed pursuant
to Applicable Law; provided, that the receiving Party shall first have given prompt written notice (and to the extent possible, at least [*] Business Days’ notice) to the 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
disclosing Party and given the disclosing Party a reasonable opportunity to take whatever action it deems necessary to protect its Confidential Information. In the event that no protective order
or other remedy is obtained, or the disclosing Party waives compliance with the terms of this Agreement, the receiving Party shall furnish only that portion of Confidential Information which the receiving Party is advised by counsel is legally
required to be disclosed; 
 8.3.2    made by or on behalf of the receiving Party to the Regulatory Authorities
as required in connection with any filing, application or request for Regulatory Approval in accordance with the terms of this Agreement; provided, that reasonable measures shall be taken to assure confidential treatment of such Confidential
Information to the extent practicable and consistent with Applicable Law; 
 8.3.3    made by or on behalf of the
receiving Party to a court, governmental agency, national or regional patent office or other appropriate body that has competent jurisdiction, as may be reasonably necessary or useful for purposes of preparing, obtaining, defending or enforcing a
Patent in accordance with the terms of this Agreement, including any Patent filings by AbbVie or Licensor; provided, that reasonable measures shall be taken to assure confidential treatment of such Confidential Information, to the extent such
protection is available; 
 8.3.4    made to its or its Affiliates’ financial and legal advisors who have a
need to know such disclosing Party’s Confidential Information and are either under professional codes of conduct giving rise to expectations of confidentiality and non-use or under written agreements of
confidentiality and non-use, in each case, at least as restrictive as those set forth in this Agreement; provided that the receiving Party shall remain responsible for any failure by such financial and
legal advisors, to treat such Confidential Information as required under this Article; 
 8.3.5    made by AbbVie
or its Affiliates or Sublicensees to its or their advisors, consultants, clinicians, vendors, service providers, contractors, existing or prospective collaboration partners, licensees, sublicensees, or other Third Parties as may be necessary or
useful in connection with the Exploitation of the Licensed Compound, the Licensed Products, or otherwise in connection with the performance of its obligations or exercise of its rights as contemplated by this Agreement; provided, that such
Persons shall be subject to obligations of confidentiality and non-use with respect to such Confidential Information substantially similar to the obligations of confidentiality and non-use of the receiving Party pursuant to this ARTICLE 8; 

8.3.6    made by Licensor or its Affiliates during the Research Period to the Subcontractors listed on Schedule
3.4 or any subsequent subcontractors approved by AbbVie as may be necessary or useful in connection with Licensors performance of its obligations under the Research Plan; or 

8.3.7    made by either Party to potential or actual acquirers or assignees, investment bankers, investors and
lenders; provided, that such Information disclosed shall be limited to the terms and conditions of this Agreement and such Persons shall be subject to obligations of confidentiality and non-use
with respect to such Confidential Information substantially similar to the obligations of confidentiality and non-use of the receiving Party pursuant to this ARTICLE 8 (other than with respect to the
time period of such obligations of confidentiality and non-use that would apply to potential or actual investment bankers, investors or lenders (which shall however be for a period of at least [*])). 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 8.4    Use of Name. Except as expressly provided herein,
neither Party shall mention or otherwise use the name, logo, or Trademark of the other Party or any of its Affiliates (or any abbreviation or adaptation thereof) in any publication, press release, marketing and promotional material, or other form of
publicity without the prior written approval of such other Party in each instance. The restrictions imposed by this Section 8.4 shall not prohibit either Party from making any disclosure identifying the other Party that, in
the opinion of the disclosing Party’s counsel, is required by Applicable Law; provided, that such Party shall submit the proposed disclosure identifying the other Party in writing to the other Party as far in advance as reasonably
practicable (and in no event less than three (3) Business Days prior to the anticipated date of disclosure) so as to provide a reasonable opportunity to comment thereon.

8.5    Public Announcements. Neither Party shall issue any public announcement, press release, or other
public disclosure regarding this Agreement or its subject matter without the other Party’s prior written consent, except (i) for the press release in the form attached hereto as Schedule 8.5, or (ii) for any such disclosure
that is, in the opinion of the disclosing Party’s counsel, required by Applicable Law or the rules of a stock exchange on which the securities of the disclosing Party are listed. In the event a Party is, in the opinion of its counsel, required
by Applicable Law or the rules of a stock exchange on which its securities are listed to make such a public disclosure, such Party shall submit the proposed disclosure in writing to the other Party as far in advance as reasonably practicable (but in
no event less than [*] days’ prior written notice unless, in the opinion of the disclosing Party’s counsel, the proposed disclosure is required within [*] days of such Party becoming aware the facts or circumstances underlying the proposed
disclosure, and in such cases, promptly upon becoming aware of such facts or circumstances) so as to provide a reasonable opportunity to comment thereon. Notwithstanding the foregoing, AbbVie, its Sublicensees and its and their respective Affiliates
shall have the right to publicly disclose research, development and commercial information (including with respect to regulatory matters) regarding the Licensed Compound and Licensed Products. 

8.6    Publications.    The Parties acknowledge that scientific publications must be
strictly monitored to prevent any adverse effect from premature publication of results of the Research Activities hereunder. Accordingly, (i) Licensor shall not publish, present, or otherwise disclose, and shall cause its Affiliates and Third
Party Providers and its and their employees and agents not to disclose any Licensor Program Know-How or material related to [*], without the prior written consent of AbbVie, and (ii) AbbVie shall not
publish, present, or otherwise disclose, and shall cause its Affiliates and Third Party Providers and its and their employees and agents not to disclose any pre-clinical data generated prior to the Effective
Date or in connection with the Research Activities, SAR data, or compound structural information, without the prior written consent of Licensor. Additionally, except as required by Applicable Law or court order, for any proposed publication or
presentation relating to the immunoproteasome by Licensor or, if such publication or presentation contains any pre-clinical data generated prior to the Effective Date or in connection with the Research
Activities, SAR data, or compound structural information, by AbbVie, the Party desiring to make any such publication shall: (a) transmit a copy of the proposed publication for review and comment to the other Party at least [*] days prior to the
submission of such publication to a Third Party; (b) shall postpone such publication for up to an additional [*] days upon request 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
of the other Party to allow the consideration of appropriate patent applications or other protection to be filed; (c) upon request of the other Party shall remove all Confidential
Information of the other Party (provided that, with respect to any publication or presentation, AbbVie shall only be required to remove any pre-clinical data generated prior to the Effective Date or in
connection with the Research Activities, SAR data, or compound structural information); and (d) shall consider all reasonable comments made by the other Party. Notwithstanding the foregoing to the contrary, the provisions of this
Section 8.6 shall not apply with respect to any publication or presentation made by Licensor or its Academic Collaborators under an Academic Collaboration Agreement; provided that if Licensor has rights to review and
comment on such disclosure prior to public release, Licensor shall provide such publication to AbbVie and shall take into consideration any reasonable comments provided by AbbVie. 

8.7    Return of Confidential Information. Upon the effective date of the termination of this
Agreement for any reason, either Party may request in writing, and the other Party shall either, with respect to Confidential Information (in the event of termination of this Agreement with respect to one (1) or more Terminated Territories but
not in its entirety, solely to the extent relating specifically and exclusively to such Terminated Territories) to which such first Party does not retain rights under the surviving provisions of this Agreement: (a) as soon as reasonably
practicable, destroy all copies of such Confidential Information in the possession of the other Party and confirm such destruction in writing to the requesting Party; or (b) as soon as reasonably practicable, deliver to the requesting Party, at
the other Party’s expense, all copies of such Confidential Information in the possession of the other Party; provided, that the other Party shall be permitted to retain one (1) copy of such Confidential Information for the sole
purpose of performing any continuing obligations hereunder, as required by Applicable Law, or for archival purposes. Notwithstanding the foregoing, such other Party also shall be permitted to retain such additional copies of or any computer records
or files containing such Confidential Information that have been created solely by such Party’s automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with
such other Party’s standard archiving and back-up procedures, but not for any other use or purpose. 

8.8    Survival.    All Confidential Information shall continue to be subject to the
terms of this Agreement for the period set forth in Section 8.2. 
 ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 

9.1    Mutual Representations and Warranties. Licensor and AbbVie each represents and warrants to the other,
as of the Effective Date, as follows: 
 9.1.1    Organization. It is a corporation duly organized,
validly existing, and in good standing under the laws of the jurisdiction of its organization, and has all requisite power and authority, corporate or otherwise, to execute, deliver, and perform this Agreement. 

9.1.2    Authorization. The execution and delivery of this Agreement and the performance by it of the
transactions contemplated hereby have been duly authorized by all necessary corporate action, and do not violate (a) such Party’s charter documents, bylaws, or other organizational documents, (b) in any material respect, any
agreement, instrument, or contractual 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
obligation to which such Party is bound, (c) any requirement of any Applicable Law, or (d) any order, writ, judgment, injunction, decree, determination, or award of any court or
governmental agency presently in effect applicable to such Party. 
 9.1.3    Binding Agreement. This
Agreement is a legal, valid, and binding obligation of such Party enforceable against it in accordance with its terms and conditions, subject to the effects of bankruptcy, insolvency, or other laws of general application affecting the enforcement of
creditor rights, judicial principles affecting the availability of specific performance, and general principles of equity (whether enforceability is considered a proceeding at law or equity). 

9.1.4    No Inconsistent Obligation. It is not under any obligation, contractual or otherwise, to any Person
that conflicts with or is inconsistent in any material respect with the terms of this Agreement, or that would impede the diligent and complete fulfillment of its obligations hereunder. 

9.2    Additional Representations and Warranties of Licensor. Licensor further represents and warrants to
AbbVie, as of the Effective Date, and as applicable under Sections 9.2.4, 9.2.10, 9.2.12, 9.2.14 and 9.2.15, covenants, as follows: 

9.2.1    All Licensor Patents existing as of the Effective Date that claim or cover any Licensed Compounds or
Licensed Products or the Exploitation thereof are listed on Schedule 9.2.1 (the “Existing Patents”). All Existing Patents existing as of the Effective Date are subsisting and are to Licensor’s Knowledge not invalid or
unenforceable, in whole or in part, are being diligently prosecuted in the respective patent offices in the Territory in accordance with Applicable Law, and have been filed and maintained properly and correctly and all applicable fees have been paid
on or before the due date for payment. 
 9.2.2    There are no claims, judgments, or settlements against, or
amounts with respect thereto, relating to the Existing Patents or the Licensor Know-How. No claim or litigation has been brought or threatened by any Person alleging, and Licensor has no knowledge of any
claim, whether or not asserted, that the Existing Patents are invalid or unenforceable. To Licensor’s Knowledge, the Development and Commercialization of the Licensed Compound and Licensed Products as contemplated herein, does not violate,
infringe, misappropriate or otherwise conflict or interfere with any intellectual property or proprietary right of any Person. To Licensor’s Knowledge, no Person is infringing or threatening to infringe or misappropriating or threatening to
misappropriate the Existing Patents or the Licensor Know-How. 

9.2.3    Licensor is the sole and exclusive owner of the entire right, title and interest in the Existing Patents
and the Licensor Program Know-How free of any encumbrance, lien, or claim of ownership by any Third Party. Licensor is entitled to grant the licenses specified herein. To Licensor’s Knowledge, there is no
Information Controlled by Licensor or its Affiliates as of the Effective Date that relates to the Licensed Compound that is not within the Licensor Know-How. Licensor has the right to use all Information and
Patents reasonably necessary for the Development and Manufacture of Licensed Compounds as contemplated herein for the conduct of its activities and such Patents are not subject to any license or agreement to which Licensor or any of its Affiliates
is a party that would restrict AbbVie’s ability to Exploit a Licensed Compound or Licensed Product (other than with respect to the agreements listed on Schedule 1.5). 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 9.2.4    During the Term, neither Licensor nor any of its
Affiliates shall encumber or diminish the rights granted to AbbVie hereunder with respect to the Licensor Patents. 

9.2.5    True, complete, and correct copies of: (a) the file wrapper and other documents and materials
relating to the prosecution, defense, maintenance, validity, and enforceability of the Existing Patents; and (b) all material adverse information with respect to the safety and efficacy of the Licensed Compound known to Licensor, in each case
((a) and (b)) have been provided or made available to AbbVie prior to the Effective Date. 
 9.2.6    Licensor
and its Affiliates have not generated any Regulatory Documentation. 
 9.2.7    Each Person who has or has had
any rights in or to any Existing Patents or any Licensor Program Know-How, has assigned and has executed an agreement assigning its entire right, title, and interest in and to such Existing Patents and
Licensor Program Know-How to Licensor. To Licensor’s knowledge, no current officer, employee, agent, or consultant of Licensor or any of its Affiliates is in violation of any term of any assignment or
other agreement regarding the protection of Patents or other intellectual property or proprietary information of Licensor related to the Existing Patents or Licensor Program Know-How. 

9.2.8    All rights in all inventions and discoveries, made, developed, or conceived by any employee or independent
contractor of Licensor or any of its Affiliates during the course of their employment (or other retention) by Licensor or such Affiliate, and relating to or included in Licensor Program Know-How or that are
the subject of one (1) or more Existing Patents have been assigned in writing to Licensor or such Affiliate. 

9.2.9    Licensor has obtained the right (including under any Patents and other intellectual property rights) to
use all Information and all other materials (including any formulations and manufacturing processes and procedures) developed or delivered by any Third Party under any agreements between Licensor and any such Third Party with respect to the Licensed
Compound, and Licensor has the rights under each such agreement to transfer such Information or other materials to AbbVie and its designees and to grant AbbVie the right to use such know-how or other materials
in the Development or Commercialization of the Licensed Compound or the Licensed Products without restriction. 

9.2.10    Neither Licensor nor any of its Affiliates has any knowledge of any scientific or technical facts or
circumstances that would adversely affect the scientific, therapeutic, or commercial potential of the Licensed Compound or Licensed Products. 

9.2.11    Neither Licensor nor any of its Affiliates, nor any of its or their respective officers, employees, or
agents has made an untrue statement of material fact or fraudulent statement to the FDA or any other Regulatory Authority with respect to the Development of the Licensed Compound or the Licensed Products, failed to disclose a material fact required
to be disclosed to the FDA or any other Regulatory Authority with respect to the Development of the Licensed Compound or the Licensed Products, or committed an act, made a statement, or failed to 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
make a statement with respect to the Development of the Licensed Compound or the Licensed Products that could reasonably be expected to provide a basis for the FDA to invoke its policy respecting
“Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities”, set forth in 56 Fed. Reg. 46191 (September 10, 1991) and any amendments thereto or any analogous laws or policies in the Territory. 

9.2.12    Licensor and its Affiliates have conducted, and their respective contractors and consultants have
conducted, all Development of the Licensed Compound or the Licensed Products that they have conducted prior to the Effective Date in accordance with good laboratory and clinical practice and Applicable Law. Licensor has conducted, and has caused its
contractors and consultants to conduct, any and all pre-clinical and clinical studies related to the Licensed Compound and Licensed Products in accordance with good laboratory and clinical practice and
Applicable Law. Licensor and its Affiliates have employed (and, with respect to such tests and studies that Licensor will perform, will employ) Persons with appropriate education, knowledge and experience to conduct and to oversee the conduct of the
pre-clinical and clinical studies with respect to the Licensed Compound and Licensed Products. 

9.2.13    There are no amounts that will be required to be paid to a Third Party as a result of the Development or
Commercialization of Licensed Compound or the Licensed Products that arise out of any agreement to which Licensor or any of its Affiliates is a party. 

9.2.14    Licensor and its Affiliates have not ever been, are not currently, nor are they the subject of a
proceeding that could lead to it or its Affiliates becoming a Debarred Entity, Excluded Entity or Convicted Entity and it and its Affiliates will not use in any capacity, in connection with the obligations to be performed under this Agreement, any
person who is a Debarred Individual, Excluded Individual or a Convicted Individual. Licensor further covenants that if, during the Term, it or its Affiliates become a Debarred Entity, Excluded Entity or Convicted Entity, or listed on the FDA’s
Disqualified/Restricted List or if any employee or agent performing any of its obligations hereunder becomes a Debarred Individual, Excluded Individual or a Convicted Individual, or added to the FDA’s Disqualified/Restricted List, Licensor
shall immediately notify AbbVie and AbbVie shall have the option, at its sole discretion, to either: (a) prohibit such Person from performing work under this Agreement, (b) terminate all work being performed or to be performed by Licensor
pursuant to this Agreement or (c) terminate this Agreement. This provision shall survive termination or expiration of this Agreement. For purposes of this provision, the following definitions shall apply: 

(a)    A “Debarred Individual” is an individual who has been debarred by the FDA pursuant to 21 U.S.C.
§335a (a) or (b) from providing services in any capacity to a person that has an approved or pending drug or biological product application. 

(b)    A “Debarred Entity” is a corporation, partnership or association that has been debarred by the FDA
pursuant to 21 U.S.C. §335a (a) or (b) from submitting or assisting in the submission of any abbreviated drug application, or a subsidiary or affiliate of a Debarred Entity. 

(c)    An “Excluded Individual” or “Excluded Entity” is (i) an individual or entity, as
applicable, who has been excluded, debarred, suspended or is otherwise ineligible to 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
participate in federal health care programs such as Medicare or Medicaid by the Office of the Inspector General (OIG/HHS) of the U.S. Department of Health and Human Services, or (ii) is an
individual or entity, as applicable, who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal procurement and non-procurement programs, including those produced by the
U.S. General Services Administration (GSA). 
 (d)    A “Convicted Individual” or “Convicted
Entity” is an individual or entity, as applicable, who has been convicted of a criminal offense that falls within the ambit of 21 U.S.C. §335a (a) or 42 U.S.C. §1320a - 7(a), but has
not yet been excluded, debarred, suspended or otherwise declared ineligible. 
 (e)    “FDA’s
Disqualified/Restricted List” is the list of clinical investigators restricted from receiving investigational drugs, biologics, or devices if the FDA has determined that the investigators have repeatedly or deliberately failed to comply with
regulatory requirements for studies or have submitted false Information to the study sponsor or the FDA 

9.2.15    Licensor shall have obtained from each of its Affiliates, sublicensees, employees and agents, and from
the employees and agents of its Affiliates, sublicensees and agents, who are participating in the Exploitation of the Licensed Compound or Licensed Products or who otherwise have access to any AbbVie Information or other Confidential Information of
AbbVie, rights to any and all Information that relate to the Licensed Compound or Licensed Products, in each case prior to the performance of or participation in such activities, such that AbbVie shall, by virtue of this Agreement, receive from
Licensor, without payments beyond those required by ARTICLE 6, the licenses and other rights granted to AbbVie hereunder. 

9.2.16    The inventions claimed or covered by the Existing Patents (a) were not conceived, discovered,
developed, or otherwise made in connection with any research activities funded, in whole or in part, by the federal government of the United States or any agency thereof, and (b) are not a “subject invention” as that term is described
in 35 U.S.C. Section 201(f). 
 9.3    The representations and warranties of Licensor in this Agreement, and
the Information, documents and materials furnished to AbbVie in connection with its period of diligence prior to the Effective Date, do not, taken as a whole, (a) contain any untrue statement of a material fact, or (b) omit to state any
material fact necessary to make the statements or facts contained therein, in light of the circumstances under which they were made, not misleading.  

9.4    DISCLAIMER OF WARRANTIES. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH HEREIN, NEITHER PARTY MAKES ANY
REPRESENTATIONS OR GRANTS ANY WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY
WARRANTY OF QUALITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR ANY WARRANTY AS TO THE VALIDITY OF ANY PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES.

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 ARTICLE 10 

INDEMNITY 

10.1    Indemnification of Licensor. AbbVie shall indemnify Licensor, its Affiliates and their
respective directors, officers, employees, and agents (the “Licensor Indemnitees”) and defend and save each of them harmless, from and against any and all losses, damages, liabilities, penalties, costs, and expenses (including
reasonable attorneys’ fees and expenses) (collectively, “Losses”) in connection with any and all suits, investigations, claims, or demands of Third Parties (collectively, “Third Party Claims”) incurred by or
rendered against the Licensor Indemnitees arising from or occurring as a result of: (a) the breach by AbbVie or its Affiliates of this Agreement; (b) the negligence, reckless or willful misconduct on the part of AbbVie or its Affiliates or
their respective directors, officers, employees, and agents in performing its or their obligations under this Agreement; or (c) the Exploitation of a Licensed Product by or on behalf of AbbVie (including any product liability claims), in each
case, except (i) any claim of misappropriation or infringement of a Third Party’s intellectual property rights based upon AbbVie’s (or its Affiliates’ or Sublicensees’) use or practice of Licensor Know-How or Licensor Patents in accordance with the terms of this Agreement, or (ii) to the extent Licensor has an obligation to indemnify AbbVie pursuant to Section 10.2. 

10.2    Indemnification of AbbVie. Licensor shall indemnify AbbVie, its Affiliates and their
respective directors, officers, employees, and agents (the “AbbVie Indemnitees”) and defend and save each of them harmless, from and against any and all Losses in connection with any and all Third Party Claims incurred by or
rendered against the AbbVie Indemnitees arising from or occurring as a result of: (a) the breach by Licensor or its Affiliates of this Agreement; and (b) the negligence, reckless or willful misconduct on the part of Licensor or its
Affiliates or their respective directors, officers, employees, and agents in performing its or their obligations under this Agreement, in each case, except to the extent Licensor has an obligation to indemnify AbbVie pursuant to
Section 10.1. 
 10.3    Notice of Claim. All indemnification claims in respect
of a Party, its Affiliates, or their respective directors, officers, employees and agents shall be made solely by such Party to this Agreement (the “Indemnified Party”). The Indemnified Party shall give the indemnifying Party
prompt written notice (an “Indemnification Claim Notice”) of any Losses or discovery of fact upon which such Indemnified Party intends to base a request for indemnification under this
Article 10, but in no event shall the indemnifying Party be liable for any Losses that result from any delay in providing such notice. Each Indemnification Claim Notice must contain a description of the claim and the nature
and amount of such Loss (to the extent that the nature and amount of such Loss is known at such time). The Indemnified Party shall furnish promptly to the indemnifying Party copies of all papers and official documents received in respect of any
Losses and Third Party Claims. 
 10.4    Control of Defense. 

10.4.1    In General. Subject to the provisions of Sections 7.4 and 7.3, at its option,
the indemnifying Party may assume the defense of any Third Party Claim by giving written notice to the Indemnified Party within thirty (30) days after the indemnifying Party’s receipt of an Indemnification Claim Notice. The assumption of
the defense of a Third Party Claim by the 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
indemnifying Party shall not be construed as an acknowledgment that the indemnifying Party is liable to indemnify the Indemnified Party in respect of the Third Party Claim, nor shall it
constitute a waiver by the indemnifying Party of any defenses it may assert against the Indemnified Party’s claim for indemnification. Upon assuming the defense of a Third Party Claim, the indemnifying Party may appoint as lead counsel in the
defense of the Third Party Claim any legal counsel selected by the indemnifying Party. In the event the indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the indemnifying Party all
original notices and documents (including court papers) received by the Indemnified Party in connection with the Third Party Claim. Should the indemnifying Party assume the defense of a Third Party Claim, except as provided in
Section 10.4.2, the indemnifying Party shall not be liable to the Indemnified Party for any legal expenses subsequently incurred by such Indemnified Party in connection with the analysis, defense or settlement of the Third
Party Claim unless specifically requested in writing by the indemnifying Party. In the event that it is ultimately determined that the indemnifying Party is not obligated to indemnify, defend or hold harmless the Indemnified Party from and against
the Third Party Claim, the Indemnified Party shall reimburse the indemnifying Party for any Losses incurred by the indemnifying Party in its defense of the Third Party Claim. 

10.4.2    Right to Participate in Defense. Without limiting Section 10.4.1, any
Indemnified Party shall be entitled to participate in, but not control, the defense of such Third Party Claim and to employ counsel of its choice for such purpose; provided, that such employment shall be at the Indemnified Party’s own
expense unless (a) the employment thereof, and the assumption by the indemnifying Party of such expense, has been specifically authorized by the indemnifying Party in writing, (b) the indemnifying Party has failed to assume the defense and
employ counsel in accordance with Section 10.4.1 (in which case the Indemnified Party shall control the defense), or (c) the interests of the Indemnified Party and the indemnifying Party with respect to such Third
Party Claim are sufficiently adverse to prohibit the representation by the same counsel of both Parties under Applicable Law, ethical rules or equitable principles. 

10.4.3    Settlement. With respect to any Losses relating solely to the payment of money damages in
connection with a Third Party Claim and that shall not result in the Indemnified Party’s becoming subject to injunctive or other relief, requires an admission on the part of the Indemnified Party of liability or wrong doing or that invalidates,
narrows in scope or enforceability any Licensor Patents or AbbVie Patents, as applicable, or otherwise adversely affecting the business of the Indemnified Party in any manner, the indemnifying Party shall have the sole right to consent to the entry
of any judgment, enter into any settlement or otherwise dispose of such Loss, on such terms as the indemnifying Party, in its sole discretion, shall deem appropriate. With respect to all other Losses in connection with Third Party Claims, where the
indemnifying Party has assumed the defense of the Third Party Claim in accordance with Section 10.4.1, the indemnifying Party shall have authority to consent to the entry of any judgment, enter into any settlement or
otherwise dispose of such Loss; provided, that it obtains the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed). If the indemnifying Party does not assume and conduct the
defense of a Third Party Claim as provided above, the Indemnified Party may defend against such Third Party Claim. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, no Indemnified Party shall admit
any liability with respect to, or settle, compromise or dispose of, any Third Party Claim without the prior written consent of the indemnifying Party, which consent 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
shall not to be unreasonably withheld, conditioned or delayed. The indemnifying Party shall not be liable for any settlement, compromise or other disposition of a Loss by an Indemnified Party
that is reached without the written consent of the indemnifying Party, which consent shall not be unreasonably withheld, conditioned or delayed. 

10.4.4    Cooperation. The Indemnified Party shall, and shall cause each indemnitee to, cooperate in the
defense or prosecution thereof and shall furnish such records, information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested in connection therewith.
Such cooperation shall include access during normal business hours afforded to the indemnifying Party to, and reasonable retention by the Indemnified Party of, records and information that are reasonably relevant to such Third Party Claim, and
making Indemnified Parties and other employees and agents available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder, and the indemnifying Party shall reimburse the Indemnified Party
for all its reasonable out-of-pocket expenses in connection therewith. 

10.4.5    Expenses. Except as provided above, the reasonable and verifiable costs and expenses, including
fees and disbursements of counsel, incurred by the Indemnified Party in connection with any Third Party Claim shall be reimbursed on a Calendar Quarter basis in arrears by the indemnifying Party, without prejudice to the indemnifying Party’s
right to contest the Indemnified Party’s right to indemnification and subject to refund in the event the indemnifying Party is ultimately held not to be obligated to indemnify the Indemnified Party. 

10.5    Special, Indirect, and Other Losses. EXCEPT (A) FOR WILLFUL MISCONDUCT, (B) FOR A
PARTY’S BREACH OF ITS OBLIGATIONS UNDER ARTICLE 8 OR SECTIONS 5.7.1 OR 5.7.2, (C) AS PROVIDED UNDER SECTION 12.10, AND (D) TO THE EXTENT ANY SUCH DAMAGES ARE REQUIRED TO BE PAID TO A THIRD PARTY AS PART OF A
CLAIM FOR WHICH A PARTY PROVIDES INDEMNIFICATION UNDER THIS ARTICLE 10, NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS OR
BUSINESS INTERRUPTION, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR OTHERWISE IN CONNECTION WITH OR ARISING IN ANY WAY OUT OF THE TERMS OF THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THE USE OF THE LICENSED COMPOUND OR LICENSED PRODUCT, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. 

10.6    Insurance. Each Party shall have and maintain such type and amounts of insurance covering its
Development, Manufacture and Commercialization of the Licensed Compounds or Licensed Products as is (a) normal and customary in the pharmaceutical industry [*] and (b) otherwise required by Applicable Law. Notwithstanding the
foregoing, AbbVie may self-insure, in whole or in part, the obligations in this agreement. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 ARTICLE 11 

TERM AND TERMINATION 

11.1    Term. 

11.1.1    Term. This Agreement shall commence on the Effective Date and, unless earlier terminated in
accordance herewith, shall continue in force and effect until the date of expiration of the last Royalty Term for the last Licensed Product (such period, the “Term”). 

11.1.2    Effect of Expiration of the Term. Following the expiration of the Term, the grants in
Section 5.1 shall become exclusive, fully-paid, royalty-free and irrevocable. 

11.2    Termination for Material Breach. 

11.2.1    Material Breach. If either Party (the
“Non-Breaching Party”) believes that the other Party (the “Breaching Party”) has materially breached one (1) or more of its material obligations under this Agreement,
then the Non-Breaching Party may deliver notice of such material breach to the Breaching Party (a “Default Notice”). If the Breaching Party does not dispute that it has committed a material
breach of one (1) or more of its material obligations under this Agreement, then if the Breaching Party fails to cure such breach, or fails to take steps as would be considered reasonable to effectively cure such breach, within [*] days after
receipt of the Default Notice, or if such compliance cannot be fully achieved within such [*] day period and the Breaching Party has failed to commence compliance or has failed to use diligent efforts to achieve full compliance as soon thereafter as
is reasonably possible, the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. If the Breaching Party disputes that it has materially breached one (1) of its
material obligations under this Agreement, the dispute shall be resolved pursuant to Section 12.6. If, as a result of the application of such dispute resolution procedures, the Breaching Party is determined to be in
material breach of one (1) or more of its material obligations under this Agreement (an “Adverse Ruling”), then if the Breaching Party fails to complete the actions specified by the Adverse Ruling to cure such material breach
within [*] days after such ruling, or if such compliance cannot be fully achieved within such [*] day period and the Breaching Party has failed to commence compliance or has failed to use diligent efforts to achieve full compliance as soon
thereafter as is reasonably possible, then the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. 

11.2.2    Material Breach Related to [*]. Notwithstanding Section 11.2.1,
if the material breach and failure to cure contemplated by Section 11.2.1 is with respect to a breach of [*] as they relate to [*] and with respect to [*] after [*], including [*]. 

11.2.3    Invocation of Termination for Material Breach. Notwithstanding the foregoing, [*], the Parties
agree that termination pursuant to this Section 11.2 is a remedy to be invoked [*]. 

11.3    Additional Termination Right by AbbVie. AbbVie may terminate this Agreement in its entirety, or on a
Region-by-Region basis, for any or no reason, upon (a) [*] days’ prior written notice to Licensor if such notice is provided prior to [*] and (a) [*]
prior written notice to Licensor if such notice is provided on or after [*]. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 11.4    Termination for Insolvency. In the event that
either Party (a) files for protection under bankruptcy or insolvency laws, (b) makes an assignment for the benefit of creditors, (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property that
is not discharged within [*] days after such filing, (d) proposes a written agreement of composition or extension of its debts, (e) proposes or is a party to any dissolution or liquidation, (f) files a petition under any bankruptcy or
insolvency act or has any such petition filed against that is not discharged within [*] days of the filing thereof, or (g) admits in writing its inability generally to meet its obligations as they fall due in the general course, then the other
Party may terminate this Agreement in its entirety effective immediately upon written notice to such Party. 

11.5    Rights in Bankruptcy. 

11.5.1    Applicability of 11 U.S.C. § 365(n). All rights and licenses (collectively, the
“Intellectual Property”) granted under or pursuant to this Agreement, including all rights and licenses to use improvements or enhancements developed during the Term, are intended to be, and shall otherwise be deemed to be, for
purposes of Section 365(n) of the United States Bankruptcy Code (the “Bankruptcy Code”) or any analogous provisions in any other country or jurisdiction, licenses of rights to “intellectual property” as defined under
Section 101(35A) of the Bankruptcy Code. The Parties agree that the licensee of such Intellectual Property under this Agreement shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code, including
Section 365(n) of the Bankruptcy Code, or any analogous provisions in any other country or jurisdiction. All of the rights granted to either Party under this Agreement shall be deemed to exist immediately before the occurrence of any bankruptcy
case in which the other Party is the debtor. 
 11.5.2    Rights of
non-Debtor Party in Bankruptcy. If a bankruptcy proceeding is commenced by or against either Party under the Bankruptcy Code or any analogous provisions in any other country or jurisdiction, the non-debtor Party shall be entitled to a complete duplicate of (or complete access to, as appropriate) any Intellectual Property and all embodiments of such Intellectual Property, which, if not already in the non-debtor Party’s possession, shall be delivered to the non-debtor Party within five (5) Business Days of such request; provided, that the debtor
Party is excused from its obligation to deliver the Intellectual Property to the extent the debtor Party continues to perform all of its obligations under this Agreement and the Agreement has not been rejected pursuant to the Bankruptcy Code or any
analogous provision in any other country or jurisdiction. 
 11.6    Termination in Entirety. 

11.6.1    In the event of a termination of this Agreement in its entirety by AbbVie pursuant to
Section 11.3 or by Licensor pursuant to Section 11.2.1 or 11.4, all rights and licenses granted by Licensor hereunder shall immediately terminate. 

11.6.2    In the event of a termination of this Agreement in its entirety by AbbVie pursuant to
Section 11.2.1 or 11.4, all rights and licenses granted to AbbVie hereunder shall become irrevocable, unrestricted, and perpetual rights and licenses and, if such termination [*], any amounts, after giving effect to
any deductions allowable hereunder, that would have been due to Licensor by AbbVie with respect to Licensed Product after such termination shall be [*] and paid to Licensor in accordance with this Section and the payment provisions of this
Agreement. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
Except for the payment obligation and any provisions that otherwise survive termination of this Agreement, all other obligations of AbbVie (including any obligation to use commercially reasonable
efforts) shall terminate. 
 11.6.3    Upon the effective date of AbbVie’s notice of termination under this
Agreement (a) AbbVie will have no further diligence obligations or obligations to conduct any further Research Activities under the Research Plan and (b) AbbVie will not be required to [*] under this Agreement [*] and the effective date of
termination or thereafter. 
 11.7    Termination of Terminated Territory. In the event of a termination
of this Agreement with respect to a country or other jurisdiction by AbbVie pursuant to Section 11.3 (but not in the case of any termination of this Agreement in its entirety), all rights and licenses granted by Licensor
hereunder (a) shall automatically be deemed to be amended to exclude, if applicable, the right to market, promote, detail, distribute, import, sell, offer for sale, file any Drug Approval Application for, or seek any Regulatory Approval for
Licensed Compound or Licensed Products in such Terminated Territory, and (b) shall otherwise survive and continue in effect in such Terminated Territory solely for the purpose of furthering any Commercialization of the Licensed Compounds or
Licensed Products in the Territory or any Development or Manufacturing in support thereof. 
 11.8    Grantback
Option and Transition Agreement. 
 11.8.1    Solely in the case of termination by Licensor pursuant to
Section 11.2.1 or 11.4 or by AbbVie pursuant to Section 11.3, AbbVie hereby grants to Licensor an exclusive option (“Grantback Option”) to acquire an exclusive royalty-bearing
license, with the right to sublicense through multiple tiers, under AbbVie’s rights under the Joint Patents or any Patent Controlled by AbbVie that has a Valid Claim covering the composition of matter, manufacture or approved use of a Licensed
Product (each a “AbbVie GrantBack Patent”), to, in the case of a Terminated Territory, Exploit in the Terminated Territory any Licensed Product that is or has been the subject of Development or Commercialization in the Terminated
Territory and that contains a Licensed Compound and no other active pharmaceutical ingredient as such Licensed Product exists as of the effective date of termination; provided that: (a) [*], and (b) [*]. Licensor may exercise its Grantback
Option by providing written notice to AbbVie within [*] days from the termination effective date. 

11.8.2    In the event of termination of this Agreement, whether in its entirety or with respect to the Terminated
Territory, Licensor and AbbVie shall negotiate in good faith the terms and conditions of a written transition agreement (the “Transition Agreement”) pursuant to which AbbVie and Licensor will effectuate and coordinate a smooth and
efficient transition of relevant obligations and rights to Licensor as reasonably necessary for Licensor to Exploit Licensed Products after termination of this Agreement (in its entirety or with respect to the Terminated Territory, as applicable) as
and to the extent set forth in this Article 11. 
 11.8.3    In the event that this
Agreement is terminated by Licensor pursuant to Section 11.2.1 or 11.4 or by AbbVie pursuant to Section 11.3, the Transition Agreement shall provide that, AbbVie shall: 

(a)    where permitted by Applicable Law, transfer to Licensor all of its right, title, and interest in all Regulatory
Documentation then owned or 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
Controlled by AbbVie or its Affiliates that are applicable to the Licensed Product, or to the extent not so transferrable, AbbVie shall take all reasonable actions to make available to Licensor
or its designee the benefits of all Regulatory Documentation applicable to such Licensed Product in the Territory; provided that, if the Agreement is terminated by AbbVie pursuant to Section 11.3 with respect to a
particular Region only, then AbbVie shall only be required to grant Licensor a right of reference to all Regulatory Documentation then owned or Controlled by AbbVie or its Affiliates that are applicable to the Licensed Product; 

(b)    where permitted by Applicable Law, transfer to Licensor all of its right, title, and interest in all Regulatory
Approvals owned or Controlled by AbbVie or its Affiliates; provided that, if the Agreement is terminated by AbbVie pursuant to Section 11.3 with respect to a particular Region only, then such transfer shall be
limited to Regulatory Approvals that are solely applicable to the Terminated Territory and to the Licensed Products, as such Regulatory Approvals exists as of the effective date of such termination of this Agreement with respect to such Terminated
Territory; provided, further, that each Party shall have a license and right of reference under any Regulatory Approval in the other Party’s territory as necessary or reasonably useful for such Party to Commercialize Licensed Products in
its territory; 
 (c)    notify the applicable Regulatory Authorities and take any other action reasonably necessary to
effect the transfer set forth in clause (a) and clause (b) above; 
 (d)    unless expressly
prohibited by any Regulatory Authority, transfer control to Licensor of all Clinical Studies being conducted by or behalf of AbbVie or its Affiliates as of the effective date of termination and continue to Conduct such Clinical Studies, at
Licensor’s cost, for up to [*] after the effective date of the termination, to enable such transfer to be completed without interruption of any such Clinical Study; provided that, if the Agreement is terminated by AbbVie pursuant to
Section 11.3 with respect to a particular Region only, then such transfer shall be limited to such Clinical Studies being conducted solely in the Terminated Territory; 

(e)    to the extent requested by Licensor, assign (or cause its Affiliates to assign) to Licensor all agreements with
any Third Party with respect to the conduct of pre-clinical Development activities or Clinical Studies for the Licensed Products, including agreements with contract research organizations, clinical sites,
investigators and manufacturing providers, unless, with respect to any such agreement, such agreement (i) expressly prohibits such assignment, in which case AbbVie shall cooperate with Licensor in reasonable respects to secure the consent of
the applicable Third Party to such assignment, or (ii) covers Clinical Studies for Combination Products in which any active ingredient that is not a Licensed Compound, in which case AbbVie shall, at Licensor’s sole cost and expense,
cooperate with Licensor in all reasonable respects to facilitate the execution of a new agreement between Licensor and the applicable Third Party; provided that, if the Agreement is terminated by AbbVie pursuant to
Section 11.3 with respect to a particular Region only, then such assignment shall be limited to such agreements that relate solely to the Terminated Territory; provided, further, that with respect to any agreements
that relate to both the Terminated Territory and the non-Terminated Territory, AbbVie shall, at Licensor’s sole cost and expense, cooperate with Licensor in all reasonable respects to facilitate the
execution of a new agreement between Licensor and the applicable Third Party; 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (f)    to the extent AbbVie does not consent to license Manufacturing
related intellectual property Controlled by AbbVie or its Affiliates that has applicability to products other than the Licensed Product pursuant to Section 11.8.1 and which intellectual property is reasonably necessary to
manufacture Licensed Product, at Licensor’s request AbbVie and Licensor shall negotiate in good faith the terms and conditions of a supply agreement for AbbVie or its Affiliates to supply, or allow a Third Party to supply, Licensed Product
(provided, that the cost of such supply shall be equal to: (i) if manufactured by AbbVie, AbbVie’s actual cost, plus [*], and (ii) if manufactured by a Third Party contract manufacturer, the price paid by AbbVie for such supply, plus
[*]; and 
 (g)    to the extent requested by Licensor, transfer to Licensor a specified amount of inventory of
Licensed Products at a transfer price equal to AbbVie’s actual cost therefor. 
 11.9    Reverse
Royalty. If AbbVie grants to Licensor a grantback license pursuant to Section 11.8.1, in consideration of the licenses granted and other consideration provided to Licensor, Licensor shall pay AbbVie a royalty on a
Licensed Product-by-Licensed Product basis on Net Sales of each Licensed Product in each country or other jurisdiction in the Terminated Territory during the Reverse Royalty Term for such Licensed Product in such country or other jurisdiction at the
rates set forth in the table below, based on the stage of development of such Licensed Product as of the effective date of such termination. For purposes of this Section, the definition of “Net Sales,” and Sections 6.8 through
6.14 shall apply mutatis mutandis to the calculation, payment, recording, and auditing of Licensor’s obligations to pay royalties under this Section as they apply to AbbVie and, solely for such purpose, each reference in each such
Section (and any related definitions) to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates. 

 

			
	 Net Sales in the of each Licensed Product
	  	Royalty
Rate
	If termination of this Agreement is effective prior to [*]	  	[*]
		
	If termination of this Agreement is effective on or after [*] and prior to [*] for a given Licensed Product	  	[*]
		
	If termination of this Agreement is effective on or after [*] for a Licensed Product	  	[*]

 11.10    Remedies. Except as otherwise expressly provided herein,
termination of this Agreement (either in its entirety or with respect to one (1) or more country(ies) or other jurisdiction(s)) in accordance with the provisions hereof shall not limit remedies that may otherwise be available in law or equity.

 11.11    Accrued Rights; Surviving Obligations. 

11.11.1    Termination or expiration of this Agreement (either in its entirety or with respect to one (1) or
more country(ies) or other jurisdiction(s)) for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination or 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
expiration. Such termination or expiration shall not relieve a Party from obligations that are expressly indicated to survive the termination or expiration of this Agreement. Without limiting the
foregoing, Section 3.5 (with respect to activities taking place during the Term, and associated reimbursements), Section 3.8 (in accordance with the time period set forth therein),
Section 5.5.1, Sections 6.2 through 6.9 (solely with respect to payments that have accrued prior to the effective date of termination or expiration), Sections 6.10 through 6.15, Sections
7.1.1 through 7.1.3 (with respect to writing, conception, discovery, development or making that occurred prior to expiration or termination of this Agreement), Section 9.4, Sections 10.1 through
10.5, Section 11.5, Sections 12.4 through 12.12, and Article 1 and Article 8 (other than Section 8.6) shall survive the
termination or expiration of this Agreement for any reason, Sections 11.6 through 11.10 shall survive termination of this Agreement but not its expiration, and Sections 11.1.2 and Section 5.1 (except as
otherwise provided in Section 11.6.2) shall survive the expiration of this Agreement but not its termination. If this Agreement is terminated with respect to the Terminated Territory but not in its entirety, then following
such termination the foregoing provisions of this Agreement shall remain in effect with respect to the Terminated Territory (to the extent they would survive and apply in the event the Agreement expires or is terminated in its entirety), and all
provisions not surviving in accordance with the foregoing shall terminate upon termination of this Agreement with respect to the Terminated Territory and be of no further force and effect (and, for purposes of clarity, all provisions of this
Agreement shall remain in effect with respect to all countries in the Territory other than the Terminated Territory). 

11.11.2    Notwithstanding the termination of AbbVie’s licenses and other rights under this Agreement or with
respect to the United States, a particular Major Market or other country or other jurisdiction, as the case may be, AbbVie shall, unless Licensor has elected to acquire any of AbbVie’s inventory, have the right for [*] after the effective date
of such termination of this Agreement in its entirety or with respect to the United States, each Major Market or other country or other jurisdiction with respect to which such termination applies to sell or otherwise dispose of all Licensed Compound
or Licensed Product then in its inventory and any in-progress inventory, in each case that is intended for sale or disposition in the United States, such Major Market or other country or other jurisdiction, as
though this Agreement had not terminated in its entirety or with respect to the United States, such Major Market or other country or other jurisdiction, and such sale or disposition shall not constitute infringement of Licensor’s or its
Affiliates’ Patent or other intellectual property or other proprietary rights. For purposes of clarity, AbbVie shall continue to make payments thereon as provided in ARTICLE 6 (as if this Agreement had not terminated with respect to the
United States, such Major Market or other country or other jurisdiction). 
 ARTICLE 12 

MISCELLANEOUS 

12.1    Force Majeure. Neither Party shall be held liable or responsible to the other Party or be
deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement when such failure or delay is caused by or results from events beyond the reasonable control of the non-performing Party, including fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics, quarantines, war, acts of war (whether war be declared or not), terrorist acts, insurrections, riots, civil
commotion, strikes, lockouts, or other labor disturbances (whether involving the workforce of the non-performing Party or of any 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
other Person), acts of God or acts, omissions or delays in acting by any governmental authority (except to the extent such delay results from the breach by the
non-performing Party or any of its Affiliates of any term or condition of this Agreement). The non-performing Party shall notify the other Party of such force majeure
within [*] days after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration, and any action being taken to avoid or minimize its effect. The suspension of performance shall be of no
greater scope and no longer duration than is necessary and the non-performing Party shall use commercially reasonable efforts to remedy its inability to perform. Notwithstanding the foregoing, if the
suspension of performance is reasonably likely to last for more than [*] months, then the performing Party shall have the right to terminate the Agreement in its entirety if such non-performance would
constitute a material breach of this Agreement. 
 12.2    Export Control. This Agreement is made
subject to any restrictions concerning the export of products or technical information from the United States or other countries that may be imposed on the Parties from time to time. Each Party agrees that it will not export, directly or indirectly,
any technical information acquired from the other Party under this Agreement or any products using such technical information to a location or in a manner that at the time of export requires an export license or other governmental approval, without
first obtaining the written consent to do so from the appropriate agency or other governmental entity in accordance with Applicable Law. 

12.3    Assignment. Without the prior written consent of the other Party, such consent not to be
unreasonably withheld, conditioned, or delayed, neither Party shall sell, transfer, assign, delegate, pledge, or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this Agreement or any of its rights or
duties hereunder; provided, that either Party may make such an assignment without the other Party’s consent to its Affiliate or to a successor, whether in a merger, sale of stock, sale of assets or any other transaction, of the business
to which this Agreement relates. With respect to an assignment to an Affiliate, the assigning Party shall remain responsible for the performance by such Affiliate of the rights and obligations hereunder. Any attempted assignment or delegation in
violation of this Section 12.3 shall be void and of no effect. All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to the benefit of and be enforceable by and
against the successors and permitted assigns of Licensor or AbbVie, as the case may be. The permitted assignee or transferee shall assume all obligations of its assignor or transferor under this Agreement. 

12.4    Severability. If any provision of this Agreement is held to be illegal, invalid, or
unenforceable under any present or future law, and if the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (a) such provision shall be fully severable, (b) this Agreement
shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof, (c) the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the
illegal, invalid, or unenforceable provision or by its severance herefrom, and (d) in lieu of such illegal, invalid, or unenforceable provision, there shall be added automatically as a part of this Agreement a legal, valid, and enforceable
provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and reasonably acceptable to the Parties. To the fullest extent permitted by Applicable Law, each Party hereby waives any provision of law that
would render any provision hereof illegal, invalid, or unenforceable in any respect. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 12.5    Governing Law, Jurisdiction and Service. 

12.5.1    Governing Law. This Agreement or the performance, enforcement, breach or termination hereof shall
be interpreted, governed by and construed in accordance with the laws of the State of Delaware, United States, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to
the substantive law of another jurisdiction; provided, that all questions concerning (a) inventorship of Patents under this Agreement shall be determined in accordance with Section 12.6.2 and (b) the
construction or effect of Patents shall be determined in accordance with the laws of the country or other jurisdiction in which the particular Patent has been filed or granted, as the case may be. The Parties agree to exclude the application to this
Agreement of the United Nations Convention on Contracts for the International Sale of Goods. 

12.5.2    Service. Each Party further agrees that service of any process, summons, notice or document by
registered mail to its address set forth in Section 12.7.2 shall be effective service of process for any action, suit, or proceeding brought against it under this Agreement in any such court. 

12.6    Dispute Resolution. Except as otherwise provided in Sections 2.2.3, 6.14 or
12.10, any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination, or any document or instrument delivered in connection herewith (a “Dispute”),
shall be resolved pursuant to this Section 12.6. 
 12.6.1    General. All
Disputes shall first be referred to the Senior Officers of the Parties, who shall confer in good faith on the resolution. Any final decision mutually agreed to by the Senior Officers shall be conclusive and binding on the Parties. If the Senior
Officers are not able to agree on the resolution of any such Dispute within [*] (or such other period of time as mutually agreed by the Senior Officers) after such Dispute was first referred to them, then, except as otherwise set forth in
Section 12.6.2, the Dispute shall be finally resolved through arbitration in accordance with Schedule 12.6.1.  

12.6.2    Intellectual Property Disputes. In the event that a Dispute arises with respect the validity,
scope, enforceability, inventorship or ownership of any Patent, Trademark or other intellectual property rights, and such Dispute cannot be resolved in accordance with Section 12.6.1, unless otherwise agreed by the Parties
in writing, such Dispute shall not be submitted to arbitration proceeding in accordance with Section 12.6.1 and instead, either Party may initiate litigation in a court of competent jurisdiction in any country or other
jurisdiction in which such rights apply. 
 12.6.3    Adverse Ruling. Any determination pursuant to this
Section 12.6 that a Party is in material breach of its material obligations hereunder shall specify a (nonexclusive) set of actions to be taken to cure such material breach, if feasible. 

12.6.4    Interim Relief and Tolling. Notwithstanding anything herein to the contrary, nothing in this
Section 12.6 shall preclude either Party from seeking interim or provisional relief, including a temporary restraining order, preliminary injunction or other interim equitable relief concerning a Dispute, if necessary to
protect the interests of such Party. This Section shall be specifically enforceable. 

  
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 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 12.7    Notices. 

12.7.1    Notice Requirements. Any notice, request, demand, waiver, consent, approval, or other
communication permitted or required under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if (a) delivered by hand, or (b) by internationally recognized overnight delivery
service that maintains records of delivery, addressed to the Parties at their respective addresses specified in Section 12.7.2 or to such other address as the Party to whom notice is to be given may have provided to the
other Party in accordance with this Section 12.7.1. Such notice shall be deemed to have been given as of the date delivered by hand or transmitted by facsimile (with transmission confirmed) or on the second Business Day (at
the place of delivery) after deposit with an internationally recognized overnight delivery service. Any notice delivered by facsimile shall be confirmed by a hard copy delivered as soon as practicable thereafter. This
Section 12.7.1 is not intended to govern the day-to-day business communications necessary between the Parties in performing their obligations
under the terms of this Agreement. 
 12.7.2    Address for Notice. 

If to AbbVie, addressed to: 

AbbVie Biotechnology Limited 

Clarendon House 
 2 Church
Street 
 Hamilton HM11 

Bermuda 
 Attention: Codan
Services Limited 
 with a copy (which shall not constitute notice) to: 

AbbVie Inc. 
 1 North Waukegan
Road 
 North Chicago, Illinois 60064 

United States 
 Attention:
Executive Vice President, External Affairs, General Counsel 
 and Corporate Secretary 

If to Licensor, to: 
 Principia
Biopharma Inc. 
 400 East Jamie Court, Suite 302 

South San Francisco, CA 94080 

Attention: Chief Executive Officer 

  
 - 55 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 with a copy (which shall not constitute notice) to: 

Cooley LLP 
 3175 Hanover Street

 Palo Alto, California 94304 

Attention: [*] 

12.8    Entire Agreement; Amendments. This Agreement, together with the Schedules attached hereto,
sets forth and constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and all prior agreements, understandings, promises, and representations, whether written or oral, with respect thereto
are superseded hereby (including that certain Confidential Disclosure Agreement between the Parties or their respective Affiliates dated January 3, 2017). Each Party confirms that it is not relying on any representations or warranties of the
other Party except as specifically set forth in this Agreement. No amendment, modification, release, or discharge shall be binding upon the Parties unless in writing and duly executed by authorized representatives of both Parties. 

12.9    English Language. This Agreement shall be written and executed in, and all other
communications under or in connection with this Agreement shall be in, the English language. Any translation into any other language shall not be an official version thereof, and in the event of any conflict in interpretation between the English
version and such translation, the English version shall control. 
 12.10    Equitable Relief. Each
Party acknowledges and agrees that the restrictions set forth in Section 5.7 and Articles 7 and 8 are reasonable and necessary to protect the legitimate interests of the other Party and that such other Party
would not have entered into this Agreement in the absence of such restrictions, and that any breach or threatened breach of any provision of such Section or Articles may result in irreparable injury to such other Party for which there will be no
adequate remedy at law. In the event of a breach or threatened breach of any provision of such Section or Articles, the non-breaching Party shall be authorized and entitled to seek from any court of competent
jurisdiction injunctive relief, whether preliminary or permanent, specific performance, and an equitable accounting of all earnings, profits, and other benefits arising from such breach (subject at all times to the damages limitation set forth in
Section 10.5), which rights shall be cumulative and in addition to any other rights or remedies to which such non-breaching Party may be entitled in law or equity. Both Parties agree
to waive any requirement that the other (a) post a bond or other security as a condition for obtaining any such relief, and (b) show irreparable harm, balancing of harms, consideration of the public interest, or inadequacy of monetary
damages as a remedy. Nothing in this Section 12.10 is intended, or should be construed, to limit either Party’s right to equitable relief or any other remedy for a breach of any other provision of this Agreement. 

12.11    Waiver and Non-Exclusion of Remedies. Any term or
condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term
or condition. The waiver by either Party hereto of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by such other Party
whether 

  
 - 56 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
of a similar nature or otherwise. The rights and remedies provided herein are cumulative and do not exclude any other right or remedy provided by Applicable Law or otherwise available except as
expressly set forth herein. 
 12.12    No Benefit to Third Parties. Except as provided in
Article 10, covenants and agreements set forth in this Agreement are for the sole benefit of the Parties hereto and their successors and permitted assigns, and they shall not be construed as conferring any rights on any
other Persons. 
 12.13    Further Assurance. Each Party shall duly execute and deliver, or cause
to be duly executed and delivered, such further instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents, and instruments, as may be necessary or as the other Party may
reasonably request in connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies under this Agreement. 

12.14    Relationship of the Parties. It is expressly agreed that Licensor, on the one hand, and
AbbVie, on the other hand, shall be independent contractors and that the relationship between the Parties shall not constitute a partnership, joint venture, or agency, including for all tax purposes. Neither Licensor, on the one hand, nor AbbVie, on
the other hand, shall have the authority to make any statements, representations, or commitments of any kind, or to take any action, which shall be binding on the other, without the prior written consent of the other Party to do so. All persons
employed by a Party shall be employees of such Party and not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense of such Party. 

12.15    Performance by Affiliates. AbbVie may use one (1) or more of its Affiliates to perform its
obligations and duties hereunder and such AbbVie Affiliates are expressly granted certain rights herein; provided that each such Affiliate shall be bound by the corresponding obligations of AbbVie and, subject to an assignment to such Affiliate
pursuant to Section 12.3, AbbVie shall remain liable hereunder for the prompt payment and performance of all their respective obligations hereunder. 

12.16    Counterparts; Facsimile Execution. This Agreement may be executed in two (2) or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one (1) and the same instrument. This Agreement may be executed by facsimile or electronically transmitted signatures and such signatures shall
be deemed to bind each Party hereto as if they were original signatures. 
 12.17    References.
Unless otherwise specified, (a) references in this Agreement to any Article, Section or Schedule shall mean references to such Article, Section or Schedule of this Agreement, (b) references in any Section to any clause are references
to such clause of such Section, and (c) references to any agreement, instrument, or other document in this Agreement refer to such agreement, instrument, or other document as originally executed or, if subsequently amended, replaced, or
supplemented from time to time, as so amended, replaced, or supplemented and in effect at the relevant time of reference thereto. 

  
 - 57 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 12.18    Schedules. In the event of any inconsistencies
between this Agreement and any schedules or other attachments hereto, the terms of this Agreement shall control. 

12.19    Construction. Except where the context otherwise requires, wherever used, the singular shall
include the plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). Whenever this Agreement refers to a number of days, unless otherwise
specified, such number refers to calendar days. The captions of this Agreement are for convenience of reference only and in no way define, describe, extend, or limit the scope or intent of this Agreement or the intent of any provision contained in
this Agreement. The term “including,” “include,” or “includes” as used herein shall mean “including, but not limited to,” and shall not limit the generality of any description preceding such term. The language
of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party hereto. Each Party represents that it has been represented by legal counsel in connection
with this Agreement and acknowledges that it has participated in the drafting hereof. In interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption will apply against the Party which drafted such
terms and provisions. 
 {SIGNATURE PAGE FOLLOWS.} 

  
 - 58 - 

 

 [  ] = Certain confidential information contained in this document, marked by brackets, is filed
with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 THIS AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the Effective Date. 

 

									
	PRINCIPIA BIOPHARMA INC.	 		 	ABBVIE BIOTECHNOLOGY LIMITED
					
	By:	 	/s/ Martin Babler	 		 	By:	 	/s/ Scott T Reents
					
	Name:	 	Martin Babler	 		 	Name:	 	Scott T Reents
					
	Title:	 	Chief Executive Officer	 		 	Title:	 	Director

  

{SIGNATURE PAGE TO DEVELOPMENT AND LICENSE
AGREEMENT} 

 Schedule 1.5 

Academic Collaborators 
  

					
	 Primary Contact
	  	 Institution
	  	 Molecule

		  	[*]	  	

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 1.33 

Assay Protocols Defining Proteasome Activity 

[*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 1.57 

“Follow-on Licensed Products” 

[*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 3.1.1 

Research Plan 
 [*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 3.4 

Existing Subcontractors 
  

					
	 Company
	  	 Title
	  	 Date

	[*]	  		  	

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 7.2.2 

List of jurisdictions required to file or maintain patents 

[*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 8.5 

Press Release 
 AbbVie
and Principia Announce Collaboration 
 on Oral Immunoproteasome Inhibitors 

NORTH CHICAGO, Ill. and South San Francisco, CA June __, 2017 /PRNewswire/ -- AbbVie, a global biopharmaceutical company, and
Principia Biopharma Inc., a private, clinical-stage biopharmaceutical company, announced today that they have entered a collaboration for the development of oral immunoproteasome inhibitors. The collaboration is aimed at developing first-in-class oral therapies that bring the power of proteasome inhibition safely into the field of immunology. 

“Principia has discovered a novel technology that has the potential to enhance the treatment landscape for a variety of immunological diseases,”
said Lisa Olson, vice president, immunology research, AbbVie. “The combination of AbbVie’s world-class expertise in immunology drug development with Principia’s innovative approach to immunoproteasome inhibitors may offer patients a
new class of therapies to treat serious and chronic conditions.” 
 “As a world leader in immunology and inflammation, AbbVie is an ideal fit for
Principia’s reversible covalent inhibitors, also known as Tailored CovalencyTM,” said Martin Babler, Principia’s Chief Executive Officer. “This collaboration brings together the best of both companies, accelerating our
program toward the clinic.” 
 The collaboration contemplates the creation and development of orally bioavailable, selective inhibitors of the
immunoproteasome subunits to target autoimmunity. AbbVie and Principia will collaborate on research and pre-clinical studies. Upon successful completion, AbbVie will be responsible for ongoing clinical
development and commercialization of viable compounds resulting from the partnership. Financial terms were not disclosed. 
 About the Immunoproteasome

 The immunoproteasome is a distinct class of the proteasome, abundant in immune cells. The immunoproteasome comprises multiple proteolytic subunits
with specialized roles in the processing of proteins for immune system recognition. The immunoproteasome plays a unique role in immune responses, with effects on antigen presentation, T cell function and cytokine production. Selective
immunoproteasome subunits can be selectively inhibited, showing therapeutic activity in preclinical autoimmune and inflammatory studies. 
 About AbbVie

 AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most
complex and critical 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas:
immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.com. Follow
@abbvie on Twitter, Facebook or LinkedIn. 
 About Principia Biopharma

Principia Biopharma Inc., a private clinical-stage biopharmaceutical company, has created a revolutionary new way to design and develop oral small molecule
therapies that are more potent, selective, durable and safer than currently available drugs. The Company has utilized its proprietary Tailored CovalencyTM technology to develop a portfolio of drug candidates that exhibit antibody-like
specificity to benefit patients with autoimmune and inflammatory diseases and cancer. PRN1008, a reversible covalent BTK inhibitor, is currently being evaluated in a Phase 2 clinical trial in patients with pemphigus vulgaris, an orphan autoimmune
disease affecting skin and mucous membranes. PRN1371, a covalent FGFR1-4 inhibitor, is currently being evaluated in a Phase 1 clinical trial in cancer patients with various solid tumors. PRN2246, a low dose
covalent BTK inhibitor which crosses the blood brain barrier, has successfully completed IND enabling studies. For more information, please visit the Company’s website at www.principiabio.com. 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 9.2.1 

Existing Patents 
 [*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Schedule 12.6.1 

Arbitration 
 The arbitration of a
Dispute shall be conducted as follows: [*] 

  
 [  ] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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