Document:

EX-10.4

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Exhibit 10.4 

EXECUTION VERSION 

Master Collaboration and License Agreement 

by and between 

MODERNA THERAPEUTICS, INC. 

and 

MERCK SHARP & DOHME CORP. 

January 12, 2015 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 List of Exhibits and Schedules 

 

			
	Exhibit A	  	 mRNA API Supply Terms

	Exhibit B	  	 [***]

	Exhibit B-1	  	 [***]

	Exhibit B-2	  	 [***]

	Exhibit C	  	 Merck Exclusive Targets

	Exhibit D	  	 Existing Partner Fields

	Exhibit E	  	 Expedited Dispute Resolution Procedure

	Exhibit F	  	 [***]

	Exhibit G	  	 Permitted Subcontractors

	Exhibit H	  	 Press Release

	Exhibit I	  	 [***]

	Schedule 1.123	  	 Moderna Patents as of the Effective Date

	Schedule 1.137	  	 Moderna [***] In-Licenses

	Schedule 1.138	  	 Moderna [***] In-Licenses

	Schedule 1.144	  	 Moderna Internal Virology Programs

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Master Collaboration and License Agreement 

This Master Collaboration and License Agreement (this “Agreement”), dated as of January 12, 2015
(the “Effective Date”), is made by and between Moderna Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Moderna”), and Merck Sharp & Dohme Corp., a corporation
organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or together as the “Parties”. 

WHEREAS, Moderna has developed expertise and technology useful for the discovery, development, Manufacture, characterization,
or use of pharmaceutical products that function using mRNA; 
 WHEREAS, Merck is a pharmaceutical company focused on
identifying, Developing and Commercializing innovative therapeutic products; 
 WHEREAS, Moderna and Merck wish to
collaborate together to discover and Develop therapeutic and vaccine products using mRNA Constructs, with the goal of identifying or creating Collaboration mRNA Constructs that are suitable for Development and Commercialization by Merck; and 

WHEREAS, Moderna is, as of the Effective Date, granting Merck a license under Moderna Technology to Develop, Commercialize and
otherwise Exploit certain Product Candidates, Elected Candidates and Products (including [***]), in each case as further described herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the
amount and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
 1. Definitions. 

The following terms and their correlatives will have the following meanings: 

1.1. “AAA” has the meaning set forth in Section 16.1(c). 

1.2. “Act” means, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C. §§
301 et seq., and/or the Public Health Service Act, 42 U.S.C. §§ 262 et seq., as such may be amended from time to time. 

1.3. “Activity” means [***]. 

1.4. [***] 

1.5. “Affiliate” of a Person means any other Person which (directly or indirectly) is controlled by, controls
or is under common control with such Person. A Person will be deemed to “control” another Person if it: (a) with respect to such other Person that is a corporation, owns, directly or indirectly, beneficially or legally, more than
fifty percent (50%) of the outstanding voting securities or capital stock (or such lesser percentage which is the maximum allowed to be owned by such Person in a particular jurisdiction) of such other Person, or, with respect to such 

 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 other Person that is not a corporation, has other comparable ownership interest; or
(b) has the power, whether pursuant to contract, ownership of securities or otherwise, to direct the management and policies of such other Person. For the avoidance of doubt, as of the Effective Date, Moderna LLC and Valera LLC are Affiliates
of Moderna. 
 1.6. “Agreement” has the meaning set forth in Recitals. 

1.7. “Applicable Field” means, with respect to (a) an R&D Program, the applicable Collaboration Field
for such R&D Program, (b) the period prior to the first Regulatory Approval of a Product Candidate, Elected Candidate and Product, the applicable Collaboration Field of the Target Product Profile of such Product Candidate, Elected Candidate
and Product, and (c) the period following the first Regulatory Approval of a Product, [***]; provided that, for purposes of this clause (c), [***]. 

1.8. “Back-Up Elected Candidate” has the meaning set forth in
Section 2.10(d)(i). 
 1.9. “Bankruptcy Code” has the meaning set forth in Section 9.5. 

1.10. [***] 

1.11. “BLA” means a Biologics License Application filed with the FDA or an equivalent application to any
Regulatory Authority (including an NDA or its foreign equivalent) requesting Regulatory Approval for a new product. 
 1.12.
“Business Combination” means with respect to a Party (or its Affiliate), any of the following events: (a) any Third Party (or group of Third Parties acting in concert) acquires (including by way of a tender or exchange offer or
issuance by such Party (or its Affiliate)), directly or indirectly, beneficial ownership or a right to acquire beneficial ownership of shares of such Party (or its Affiliate) representing fifty percent (50%) or more of the voting shares (where
voting refers to being entitled to vote for the election of directors) then outstanding of such Party (or its Affiliate); (b) such Party (or its Affiliate) consolidates with or merges into another corporation or entity which is a Third Party,
or any corporation or entity which is a Third Party consolidates with or merges into such Party (or its Affiliate), in either event pursuant to a transaction in which more than fifty percent (50%) of the voting shares of the acquiring or resulting
entity outstanding immediately after such consolidation or merger is not held by the holders of the outstanding voting shares of such Party (or its Affiliate) immediately preceding such consolidation or merger; or (c) such Party (or its
Affiliate) sells, transfers, leases or otherwise disposes of all or substantially all of the assets to which this Agreement relates to a Third Party. 

1.13. “Business Day” means any day other than a Saturday or Sunday on which banking institutions in New York,
NY are open for business. 
 1.14. “Calendar Quarter” means the respective periods of three
(3) consecutive calendar months ending on March 31, June 30, September 30 and December 31; provided, however, that (i) the first Calendar Quarter of this Agreement shall commence on the Effective Date and end at the end of
the Calendar Quarter in which the Effective Date occurs and (ii) the last Calendar Quarter of this Agreement shall commence at the commencement of such Calendar Quarter and end on the date of expiration or termination of this Agreement. 

  
 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.15. “Calendar Year” means each twelve (12)-month period
beginning on January 1, 2015 and each subsequent anniversary thereof; provided, however, that (i) the first Calendar Year of this Agreement shall commence on the Effective Date and end on December 31 of the same year and (ii) the
last Calendar Year of this Agreement shall commence on January 1 of the Calendar Year in which this Agreement terminates or expires and end on the date of expiration or termination of this Agreement. 

1.16. “cGMP” means the then current good manufacturing practices, standards, guidelines and regulations
promulgated and published by FDA, European Medicines Agency and/or any other applicable Regulatory Authorities having jurisdiction over the Manufacture of Moderna mRNA API (or Drug Product) or the Development or sale of any Product containing such
Moderna mRNA API (or Drug Product), as applicable, relating to the testing, manufacturing, processing, packaging, holding or distribution of drug substances and finished drugs including any standards, guidelines and regulations as promulgated by, as
applicable: (i) the FDA under and in accordance with the U.S. Federal Food, Drug and Cosmetic Act and Title 21, Parts 210 and 211 of the U.S. Code of Federal Regulations; (ii) the EMA and the EU Commission under European Directive
2003/94/EC; and/or (iii) the ICH Harmonised Tripartite Good Manufacturing Practice Guide For Active Pharmaceutical Ingredients (ICH Q7), as such standards, guidelines and regulations may be amended from time to time. 

1.17. “Clinical Data” means all information with respect to a Collaboration mRNA Construct, Product Candidate,
Elected Candidate or Product made, collected or otherwise generated under or in connection with clinical studies for such Collaboration mRNA Construct, Product Candidate, Elected Candidate or Product, including any data, reports and results with
respect thereto. 
 1.18. “Clinical Supply Agreement” has the meaning set forth in Section 4.2. 

1.19. “Code” has the meaning set forth in Section 2.16(d). 

1.20. “Collaboration Activities” means the collaborative program of activities for the Development of
Collaboration mRNA Constructs and Product Candidates that is engaged in by or on behalf of the Parties under this Agreement during the Collaboration Term, including [***]. 

1.21. “Collaboration Fields” means the [***], the RSV Field, the [***] and the [***]. 

1.22. “Collaboration Know-How” means all Know-How conceived, discovered, developed or otherwise made by or on behalf of a particular Party or any of its Affiliates or permitted subcontractors of any of the foregoing (solely or jointly by or on behalf of a
particular Party or any of its Affiliates or permitted subcontractors of any of the foregoing) in the course of [***]. 

1.23. “Collaboration mRNA Constructs” means [***]. 

1.24. “Collaboration Pathogens” means [***] and RSV. 

1.25. “Collaboration Patents” means any and all Patents that claim or cover any of the Collaboration Know-How. 

  
 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.26. “Collaboration Technology” means [***]. 

1.27. “Collaboration Term” means, collectively, the R&D Term and the
Post-R&D Period. 
 1.28. “Combination Product” means a Product
which includes one or more active ingredients other than an Elected Candidate. Drug delivery vehicles, adjuvants, and excipients shall not be deemed to be “active ingredients”, except in the case where such delivery vehicle, adjuvant, or
excipient is recognized as an active ingredient in accordance with 21 C.F.R. 210.3(b)(7). All references to Product in this Agreement shall be deemed to include Combination Product, provided that the licenses granted to Merck herein apply only
with respect to those mRNA Constructs which are Collaboration mRNA Constructs, as incorporated in Products Candidates or Elected Candidates, and not to any other mRNA Constructs. 

1.29. “Commencement” means, with respect to a clinical study for a product, [***] in such clinical study. 

1.30. “Commercialization” means any and all activities related to the import, export, marketing, detailing,
promotion, distribution and/or sale of a pharmaceutical or vaccine product in a country or region in the Territory. 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 efforts to be expended by a Party with respect to any objective, [***]. 
 1.32.
“Competitive Infringement” means [***]. 
 1.33. “Competitive TPP” means a TPP proposed by
Merck in accordance with Section 2.9 that is [***]. 
 1.34. “Confidentiality Agreement” means the
Mutual Confidential Disclosure Agreement between the Parties made effective as of February 27, 2013 (as amended on February 5, 2014). 

1.35. “Confidential Information” has the meaning set forth in Section 12.1(a). 

1.36. [***] 

1.37. [***] 

1.38. [***] 

1.39. [***] 

1.40. “Control” or “Controlled” means, with respect to any
Know-How or Patent, the possession (whether by ownership, license or sublicense, other than by a license, sublicense or other right granted (but not assignment) pursuant to this Agreement) by a Party (or its
Affiliate) of 

  
 4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
the ability to assign or grant to the other Party the licenses, sublicenses or rights to access and use such Know-How or Patent as provided for in this
Agreement, without violating the terms of any agreement or other arrangement with any Third Party in existence as of the time such Party would be required hereunder to grant such license, sublicense, or rights of access and use, provided that Know-How and Patents that are licensed to Moderna pursuant to a Moderna In-License are not “Controlled” for purposes of this Agreement unless and only after such
Moderna In-License is deemed to be a Moderna Collaboration In-License pursuant to Section 7. 

1.41. [***] 

1.42. [***] 

1.43. “Development” means any and all research, preclinical and clinical drug development activities,
including all activities relating to the identification of mRNA Constructs, the testing of mRNA Constructs, test method development and stability testing, toxicology, formulation, process development, qualification and validation, Manufacture scale-up, development-stage Manufacturing, quality assurance/quality control, holding/keeping (whether for disposal or otherwise), clinical studies, statistical analysis and report writing, the preparation and
submission of Regulatory Filings, regulatory affairs with respect to the foregoing and all other activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a condition or in support of obtaining or
maintaining a Regulatory Approval, and “Develop”, “Developed” and “Developing” will have corresponding meanings. For clarity, (a) “Development” excludes [***] and (b) with respect to
a Product, Development shall include modifying, enhancing and/or improving such Product (e.g., changing dosage, formulation, etc.) provided that such modification, enhancement and/or improvement does not change the Collaboration mRNA Construct(s) in
such Product. 
 1.44. “Development Milestone Product” has the meaning set forth in Section 8.4(a).

 1.45. “Disclosing Party” has the meaning set forth in Section 12.1(a). 

1.46. “Discontinued mRNA Construct” means any Collaboration mRNA Construct that has by any of the terms of
this Agreement become a “Discontinued mRNA Construct”. 
 1.47. “Discontinued Program” means any
R&D Program that has by any of the terms of this Agreement become a “Discontinued Program”. 
 1.48.
“Discontinued Target” means any Target that has by any of the terms of this Agreement become a “Discontinued Target”. 

1.49. “Disputes” has the meaning set forth in Section 16.1(a). 

1.50. “Distributor” means any Person, other than a Sublicensee or an Affiliate of Merck, in one or more
countries in the Territory that (a) purchases Product from Merck, its Affiliates or Sublicensees for such country(ies), (b) assumes responsibility from Merck for all or a portion of the Commercialization of such Product in such country(ies),
and (c) sells Product in such country(ies). 

  
 5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.51. “DMF” means any drug master file filed with the FDA,
and any equivalent filing in other countries or regulatory jurisdictions. 
 1.52. “Drug Product” means
[***]. 
 1.53. [***] 

1.54. “Effective Date” has the meaning set forth in the Preamble. 

1.55. “Elected Candidate” means a Product Candidate for which Merck has issued an “Elected Candidate
Notice” pursuant to Section 2.10(a) or “Replacement Notice” pursuant to Section 2.10(d), including [***]. 

1.56. “Elected Candidate Cap” has the meaning set forth in Section 2.10(a). 

1.57. “Elected Candidate Notice” has the meaning set forth in Section 2.10(a). 

1.58. “EMA” means the Regulatory Authority known as the European Medicines Agency and any successor agency
thereto. 
 1.59. “Environmental, Health and Safety (EHS) Laws” means all applicable environmental and
similar Laws, directives, rules, ordinances, codes, guidelines, regulations, governmental, administrative or judicial orders or decrees or other legal requirements of any kind, whether currently in existence or hereafter promulgated, enacted,
adopted or amended, relating to (a) safety (including occupational health and safety); conservation, preservation or protection of human health, drinking water, natural resources, biota and the environment; (b) the introduction of any
chemical substances, products or finished articles into the stream of commerce; (c) the imposition of any discharge levy or other economic instrument to prevent or reduce discharge of pollutants; (d) the conduct of environmental impact
assessment in connection with the design, development and operation of any facility or project; (e) the notification, classifications, registrations and labeling of new chemical substances; or (f) the generation, use, storage, handling,
treatment, transportation or disposal of waste, including any matters related to releases and threatened releases of hazardous materials. 

1.60. [***] 

1.61. “Executive Officer” means, for Moderna, [***], and for Merck, [***]. Either Party may change its
Executive Officer upon written notice to the other Party, provided that such replacement individual has decision-making authority on behalf of such Party in respect of this Agreement. 

1.62. “Existing Partner” means each of the [***] Development and Commercialization partners of Moderna as of
the Effective Date with which Moderna has entered into an Existing Partner Agreement that is in effect as of the Effective Date. 

1.63. “Existing Partner Agreements” mean, [***]. 

1.64. “Existing Partner Fields” means the fields listed on Exhibit D. 

  
 6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.65. “Exploit” means to make, have made, import, use, sell,
or offer for sale, including to Develop, Commercialize, register, Manufacture, have Manufactured, hold, or keep (whether for disposal or otherwise), formulate, have used, export, transport, distribute, promote, market, or have sold or otherwise
dispose of, and “Exploiting” and “Exploitation” will have corresponding meanings. [***] 

1.66. “FDA” means the United States Food and Drug Administration and any successor agency thereto. 

1.67. “FFDCA” means the United States Food, Drug, and Cosmetic Act, as amended from time to time,
together with any rules, regulations and requirements promulgated thereunder (including all additions, supplements, extensions, and modifications thereto). 

1.68. “First Commercial Sale” means, with respect to a Product and a country, the first sale for monetary
value for use or consumption by the general public of such Product in such country after all required Regulatory Approvals for commercial sale of such Product have been obtained in such country. Sales prior to receipt of Regulatory Approval for such
Licensed Product, such as so-called “treatment IND sales,” “named patient sales,” and “compassionate use sales,” shall not be construed as a First Commercial Sale. 

1.69. “FTE” means the equivalent of a full-time scientific or technical person’s work time over a twelve
(12) month period (including normal vacation, sick days and holidays) devoted to, and directly related to, conducting Collaboration Activities [***] under an R&D Program, [***], in accordance with this Agreement, based on [***] person-hours
or greater per year. In the event that an individual devotes less than such full time to conducting Collaboration Activities [***]under an R&D Program, [***] in accordance with this Agreement during such twelve (12) month period, then for
purposes of this Agreement, such individual shall only count as a portion of an FTE which shall be determined by dividing the number of full days during the applicable twelve (12) month period devoted to, and directly related to, conducting
Collaboration Activities [***] in accordance with this Agreement by the total number of working days during such twelve (12) month period. No individual may be charged at greater than one (1) FTE in a given Calendar Year. 

1.70. “FTE Costs” means, (a) with respect to Moderna, the actual FTEs employed by Moderna or its
Affiliates in the conduct of any Collaboration Activities [***] pursuant to the [***] and (b) with respect to Merck, the actual FTEs employed by Merck and its Affiliates in the conduct of Collaboration Activities pursuant to [***], in each case
((a) and (b)), multiplied by the FTE Rate, which represents [***]. 
 1.71. “FTE Rate” means [***] per one
(1) full FTE per full twelve (12) month Calendar Year; provided, that, starting [***], [***] such rate shall adjust [***] of each Calendar Year by an amount equal to the change, if any, in [***]. Notwithstanding the foregoing for any
Calendar Year during the Term that is less than a full year, the above referenced rate shall be proportionately reduced to reflect such portion of such full Calendar Year. 

1.72. “GAAP” means U.S. generally accepted accounting principles or International Financial Reporting
Standards, consistently applied, as designated and used by the applicable Party. 

  
 7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.73. [***] 

1.74. “GLP Toxicology Study” means a GLP study of the toxicological effects of a product. 

1.75. “Good Laboratory Practice” or “GLP” means the applicable then-current standards for
laboratory activities for pharmaceuticals (including biologicals) or vaccines, as applicable, as set forth in the Act and any regulations or guidance documents promulgated thereunder, as amended from time to time, together with any similar standards
of good laboratory practice as are required by any Regulatory Authority having jurisdiction over the applicable activity. 

1.76. [***] 

1.77. [***] 

1.78. “Human Materials” shall have the meaning set forth in Section 2.16(b). 

1.79. “[***] Target” means [***].  

1.80. “IND” means with respect to a Product Candidate, an Investigational New Drug Application filed with the
FDA with respect to such Product Candidate pursuant to 21 C.F.R. § 312 before the commencement of human clinical trials involving such Product Candidate, including all amendments and supplements to such application, or any equivalent filing
with any Regulatory Authority outside the United States. 
 1.81. “Indemnification Claim Notice” has the
meaning set forth in Section 14.5(c). 
 1.82. “Indemnified Party” has the meaning set forth in
Section 14.5(c). 
 1.83. [***] 

1.84. [***] 

1.85. “Initial R&D Term” has the meaning set forth in Section 2.2(a). 

1.86. “In-License Payments” means any amounts payable under any
Moderna Collaboration In-License that are incurred by Moderna or its Affiliates as a result of (a) the grant of [***] or (b) the grant of any [***], in each ((a) and (b)) under this Agreement. Any
such payments may include [***]. Notwithstanding the foregoing, In-License Payments shall not include any [***]. 

1.87. “Issuing Party” has the meaning set forth in Section 12.3(c). 

1.88. “Joint Know-How” means all Collaboration Know-How that is jointly owned by the Parties in accordance with Section 10.5. 

1.89. “Joint Patents” means all Collaboration Patents that are jointly owned by the Parties in accordance with
Section 10.5. 

  
 8 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.90. “Joint Technology” means all Collaboration Technology
that is jointly owned by the Parties in accordance with Section 10.5. 
 1.91. “JSC” has the meaning
set forth in Section 3.2(a). 
 1.92. “Know-How” means all non-public technical, scientific, and other know-how and information, trade secrets, knowledge, technology, means, methods, processes, practices, formulae, instructions,
skills, techniques, procedures, experiences, ideas, designs, drawings, assembly procedures, computer programs, apparatuses, specifications, data, results and Materials, including: biological, chemical, vaccine-related, pharmacological,
toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and information, including study designs and protocols, assays, and biological
methodology, in all cases, whether or not copyrightable or patentable, in written, electronic or any other form now known or hereafter developed. 

1.93. “Knowledge” means with respect to the matter in question, the knowledge of [***]. 

1.94. “Law” or “Laws” means all laws, statutes, enactments, acts of legislature, rules,
regulations, orders, judgments, guidelines, policies, directions, directives, or ordinances having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision of any jurisdiction which
are applicable to any of the Parties or their respective Affiliates in carrying out activities hereunder or to which any of the Parties or their respective Affiliates in carrying out the activities hereunder is subject, including the Act and GLPs
and cGMPs. 
 1.95. [***] 

1.96. [***] 

1.97. “Losses” has the meaning set forth in Section 14.5(a). 

1.98. “Manufacturing” means the production, manufacture, synthesis, processing, filling, finishing, packaging,
labeling, shipping and holding of product or any intermediate thereof, including process development, process qualification and validation, scale-up, commercial manufacture and analytic development, product
characterization, stability testing, quality assurance and quality control. “Manufacturing” refers to both pre-clinical and clinical Manufacturing for Development, and Manufacturing for
Commercialization. “Manufacture” and “Manufactured” will have corresponding meanings. [***] 

1.99. “Materials” means any tangible chemical or biological material, including any compounds, DNA and RNA
(modified and unmodified), mRNA Constructs, Polypeptides, clones, cells, constructs, vectors, receptors and other nucleic acids, proteins, peptides and any expression product, progeny, derivative or improvement thereto, along with any tangible
chemical or biological material embodying any Know-How. 
 1.100.
“Merck” has the meaning set forth in Recitals. 
 1.101. “Merck Acquisition” has the
meaning set forth in Section 11.9. 

  
 9 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.102. “Merck Background
Know-How” means any and all Know-How Controlled by Merck or its Affiliates as of the Effective Date or as to which Merck or its Affiliates obtains Control
during the Collaboration Term that [***], including [***], but in each case [***] excluding any Merck Collaboration Know-How. 

1.103. “Merck Background Patents” means those Patents that are Controlled by Merck or its Affiliates as of the
Effective Date or as to which Merck or its Affiliates obtains Control during the Collaboration Term that claim or cover the Merck Background Know-How, excluding any Merck Collaboration Patents. 

1.104. “Merck Background Technology” means the Merck Background
Know-How and the Merck Background Patents. 
 1.105. “Merck Business
Program” has the meaning set forth in Section 11.9. 
 1.106. “Merck Collaboration Know-How” means any and all Collaboration Know-How owned by Merck or any of its Affiliates [***], including Merck’s right and interest in any Joint Know-How. 
 1.107. “Merck Collaboration Patents” means any and all
Patents that claim or cover any of the Merck Collaboration Know-How, including Merck’s right and interest in any Joint Patents. 

1.108. “Merck Collaboration Technology” means the Merck Collaboration
Know-How and the Merck Collaboration Patents. For clarity, all Merck Collaboration Technology will be “Controlled” by Merck for purposes of this Agreement. 

1.109. “Merck Election Period” has the meaning set forth in Section 2.11(d). 

1.110. “Merck Exclusive Targets” means the Targets identified on Exhibit C. 

1.111. [***] 

1.112. [***] 

1.113. “Merck Indemnitees” has the meaning set forth in Section 14.5(b). 

1.114. “Merck In-License” has the meaning set forth in
Section 7.8. 
 1.115. “Merck Program Director” has the meaning set forth in Section 3.1. 

1.116. [***] 

1.117. “Merck Technology” means collectively, Merck Background Technology and Merck Collaboration Technology.

 1.118. “Milestone Event” has the meaning set forth in Section 8.4. 

1.119. “Milestone Payment” has the meaning set forth in Section 8.4. 

  
 10 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.120. “Moderna” has the meaning set forth in Recitals. 

1.121. “Moderna Acquisition” has the meaning set forth in Section 11.8(a). 

1.122. “Moderna Background Know-How” means any and all Know-How Controlled by Moderna or any of its Affiliates as of the Effective Date or as to which Moderna or any of its Affiliates obtains Control during the Term that [***], excluding any Moderna Collaboration Know-How. For the avoidance of doubt, Moderna Background Know-How shall not include any Know-How licensed to Moderna pursuant to a
Moderna In-License unless and until such Moderna In-License becomes a Moderna Collaboration In-License pursuant to
Section 7. 
 1.123. “Moderna Background Patents” means those Patents that are Controlled by Moderna or
any of its Affiliates as of the Effective Date or as to which Moderna or any of its Affiliates obtains Control during the Term that [***], including those set forth on Schedule 1.123, but excluding [***]. For the avoidance of doubt, Moderna
Background Patents shall not include any Patents licensed to Moderna pursuant to a Moderna In-License unless and until such Moderna In-License becomes a Moderna
Collaboration In-License pursuant to Section 7. 
 1.124. “Moderna
Background Technology” means Moderna Background Know-How and Moderna Background Patents. 

1.125. “Moderna Business Program” has the meaning set forth in Section 11.8(a). 

1.126. “Moderna Collaboration In-License” has the meaning set forth in
Section 7.4. 
 1.127. “Moderna Collaboration Know-How” means
any and all Collaboration Know-How owned by Moderna or any of its Affiliates [***], including Moderna’s right and interest in any Joint Know-How. 

1.128. “Moderna Collaboration Patents” means any and all Patents that claim or cover any of the Moderna
Collaboration Know-How, including Moderna’s right and interest in any Joint Patents. 

1.129. [***] 

1.130. “Moderna Collaboration Technology” means the Moderna Collaboration
Know-How and Moderna Collaboration Patents. For clarity, all Moderna Collaboration Technology will be “Controlled” by Moderna for the purpose of this Agreement. 

1.131. “Moderna Collaboration Technology In-License” has the meaning
set forth in Section 7.2. 
 1.132. [***]. 

1.133. [***] 

1.134. [***]. 

  
 11 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.135. [***] 

1.136. [***] 

1.137. “Moderna [***] In-License” means an agreement between Moderna
(or its Affiliate) and a Third Party [***] pursuant to which a Third Party grants rights or licenses under Patents or Know-How that [***]. Each such agreement is set forth on
Schedule 1.137. For clarity, no Moderna [***] In-License will be a Moderna Collaboration In-License until included as such pursuant to
Section 7. 
 1.138. “Moderna [***] In-License” means an
agreement between Moderna (or its Affiliate) and a Third Party in effect as of the Effective Date pursuant to which a Third Party grants rights or licenses under any [***]. Each such agreement is set forth on
Schedule 1.138. 
 1.139. [***] 

1.140. “Moderna [***] In-License” has the meaning set forth in
Section 7.1(b). 
 1.141. [***] 

1.142. “Moderna Indemnitees” has the meaning set forth in Section 14.5(a). 

1.143. “Moderna In-License” means a Moderna [***] In-License, a Moderna [***] In-License or a Moderna [***] In-License. 

1.144. “Moderna Internal Virology Program” means a program for the Development of mRNA Constructs and
associated mRNA Products [***] in the [***]. All Moderna Internal Virology Programs in existence as of the Effective Date are set forth on Schedule 1.144. 

1.145. “Moderna Know-How” means the Moderna Background Know-How and Moderna Collaboration Know-How. 

1.146. “Moderna mRNA API” means [***]. 

1.147. “Moderna Patents” means the Moderna Background Patents and Moderna Collaboration Patents. 

1.148. [***] 

1.149. [***]. 

1.150. [***] 

1.151. [***] 

1.152. [***] 

1.153. [***] 

  
 12 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.154. [***] 

1.155. “Moderna Program Director” has the meaning set forth in Section 3.1. 

1.156. [***] 

1.157. “Moderna Technology” means collectively, Moderna Know-How and
Moderna Patents. 
 1.158. “mRNA Construct” means [***]. 

1.159. [***] 

1.160. “mRNA Product” means [***]. 

1.161. “mRNA Technology” means any Know-How and Patents directed or
otherwise pertaining to [***]. 
 1.162. “Net Sales” means the gross invoice price (not including [***]) of
Product sold by a Selling Party to the first Third Party after deducting, if not previously deducted, from the amount invoiced or received: 

(a) [***] 

(b) [***] 

(c) [***] 

(d) [***] 

(e) [***] 

(f) [***] 

(g) [***] 

wherein the foregoing actual deductions incurred in (a) through (g) shall be determined in a manner [***]. [***] With
respect to sales of Combination Products, Net Sales shall be calculated on a country-by-country basis as follows: 

[***]        [***] 

[***]        [***] 

[***]         [***] 

[***] 

1.163. [***] 

  
 13 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.164. “New Program” has the meaning set forth in
Section 11.8(b). 
 1.165. “Non-cGMP Construct Cap” has the
meaning set forth in Section 4.1(b)(i). 
 1.166. “non-cGMP Order
Form” has the meaning set forth in Section 4.1(a). 
 1.167. [***] 

1.168. [***] 

1.169. [***] 

1.170. [***] 

1.171. “Officials” has the meaning set forth in Section 2.16(e). 

1.172. [***] 

1.173. [***] 

1.174. [***] 

1.175. “Out-of-Pocket Costs”
means costs and expenses paid [***] to Third Parties by [***], all in accordance with the budget set forth in the applicable R&D Plan, Post R&D Plan, [***]. 

1.176. “Parties” has the meaning set forth in Recitals. 

1.177. “Party” has the meaning set forth in Recitals. 

1.178. “Patent” means (a) a patent or a patent application, (b) any additions, priority
applications, divisions, continuations, and continuations-in-part of any of the foregoing and (c) all patents issuing on any of the foregoing patent applications,
together with all invention certificates, substitutions, reissues, reexaminations, registrations, supplementary protection certificates, confirmations, renewals and extensions of any of (a), (b) or (c), and foreign counterparts of any of the
foregoing, but not including any rights that give rise to Regulatory Exclusivity Periods (other than supplementary protection certificates, which will be treated as “Patents“ hereunder). 

1.179. “Patent Costs” means the reasonable, documented, out-of-pocket costs and expenses paid to outside legal counsel, and filing and maintenance expenses, [***] in Prosecuting and Maintaining Patents. 

1.180. “Payment” has the meaning set forth in Section 2.16(e). 

1.181. “Person” means any individual, partnership, joint venture, limited liability company, corporation,
firm, trust, association, unincorporated organization, governmental authority or agency, or any other entity not specifically listed herein. 

  
 14 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.182. “Phase I Clinical Study” means a human clinical study
of a product, the principal purpose of which is a preliminary determination of safety in healthy individuals or patients, as described in 21 C.F.R. 312.21(a). 

1.183. “Phase II Clinical Study” means a human clinical study of a product initiated to determine the safety
and efficacy in the target patient population, as described 21 C.F.R. 312.21(b). 
 1.184. “Phase III Clinical
Study” means a human clinical study of a product on a sufficient number of subjects that is designed to establish that such product is safe and efficacious for its intended use, and to determine warnings, precautions, and adverse reactions
that are associated with such product in the dosage range to be prescribed, which trial is intended to support Regulatory Approval of such product, as described in 21 C.F.R. 312.21(c). 

1.185. [***] 

1.186. [***] 

1.187. “Polypeptide” means [***]. 

1.188. “Post-R&D Period” means the period beginning on the
expiration of the R&D Term and ending on the earlier to occur of (a) the date on which Merck has properly designated its fifth (5th) Elected Candidate hereunder, (b) if Merck elects
to add the R&D Extension Term pursuant to Section 2.2(b), the seventh anniversary of the Effective Date, and (c) if Merck does not elect to add the R&D Extension Term pursuant to Section 2.2(b), the sixth anniversary of the
Effective Date, as such period may be extended pursuant to Section 2.8(c). 
 1.189. “Post R&D
Plan” has the meaning set forth in Section 2.14(b). 
 1.190. “Product” means a pharmaceutical
or vaccine product comprised of [***], in all forms, presentations, formulations and dosage forms. For clarity, different forms, presentations, formulations and dosage forms of a given Product (regardless of whether for human beings and/or animals)
shall be considered the same Product for the purposes of this Agreement. 
 1.191. “Product Candidate”
means, with respect to Product Candidate Pool, [***]. 
 1.192. “Product Candidate Notice” has the meaning
set forth in Section 2.9(d). 
 1.193. “Product Candidate Pool” means, with respect to a Target Product
Profile, all Collaboration mRNA Constructs that are [***]. 
 1.194. “Program Directors” has the meaning set
forth in Section 3.1. 
 1.195. [***]. 

1.196. “Prosecution and Maintenance” means, with regard to a particular Patent, the preparation, filing,
prosecution and maintenance of such Patent, as well as re-examinations, reissues and the like with respect to that Patent, together with the conduct of interferences, the defense of oppositions and other
similar proceedings with respect to that Patent. 

  
 15 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.197. “Providers” has the meaning set forth in
Section 2.16(b). 
 1.198. [***] 

1.199. “R&D Collaboration” means the activities undertaken by or on behalf of the Parties to Develop
Collaboration mRNA Constructs (including [***]) and associated mRNA Products under the R&D Programs pursuant to the R&D Plans. 

1.200. “R&D Extension Term” has the meaning set forth in Section 2.2(b). 

1.201. “R&D [***] Target” means a [***] Target that is selected and included in an R&D Program in
accordance with Section 2.3(b), and that is not a Discontinued Target. 
 1.202. “R&D Plan” has the
meaning set forth in Section 2.4(a)(i). 
 1.203. “R&D Polypeptide” means, with respect to an
R&D Program, [***]. 
 1.204. “R&D Program” means each collaborative program of Development
activities established in accordance with Sections 2.3(a) or 2.7, as applicable, and conducted by or on behalf of the Parties during the R&D Term in accordance with the terms and conditions of this Agreement, and that is not a Discontinued
R&D Program. 
 1.205. “R&D Program Costs” means all Out-of-Pocket Costs and FTE Costs incurred by Moderna or Merck and their respective Affiliates after the Effective Date directly in connection with the performance of [***]. 

1.206. “R&D Program Pathogen” means a Collaboration Pathogen or that is the subject of an R&D Program.

 1.207. “R&D Program Proposal” has the meaning set forth in Section 2.3(a). 

1.208. “R&D Target” means a Merck Exclusive Target that is selected and included in an R&D Program in
accordance with Section 2.3(b), and that is not a Discontinued Target. 
 1.209. “R&D Term” has the
meaning set forth in Section 2.2(b). 
 1.210. “Receiving Party” has the meaning set forth in
Section 12.1(a). 
 1.211. “Registrational Study” means, with respect to a given product, any clinical
study that is intended to be the basis for initial Regulatory Approval of such product. 
 1.212. “Regulatory
Approval” means, with respect to a country or extra-national territory, any and all approvals (including BLAs), licenses, registrations or authorizations of any Regulatory Authority necessary in order to commercially distribute, sell or
market a Product in such country or some or all of such extra-national territory, including any pricing or reimbursement approvals. 

  
 16 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.213. “Regulatory Authority” means any national
(e.g., the FDA), supra-national (e.g., the EMA), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity, in any jurisdiction in the world, involved in the granting of Regulatory
Approval or otherwise involved in regulating the Exploitation of a Product. 
 1.214. “Regulatory Exclusivity
Period” means with respect to a Product in a country, the period of time during which Merck or any of its Sublicensees has been granted the exclusive legal right, other than Patent protection, by a Regulatory Authority (or is otherwise
entitled to the exclusive legal right by operation of Law) in such country to market and sell the Product (e.g., pediatric exclusivity, or any applicable data exclusivity). 

1.215. “Regulatory Filing” means any submission to a Regulatory Authority, including all applications,
registrations, licenses, authorizations and approvals (including Regulatory Approvals), together with any related correspondence and documentation 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 and all clinical studies and tests, relating to a product and all data contained in any of the foregoing, including all INDs, Drug Approval Applications,
regulatory drug lists, advertising and promotion documents, Clinical Data, adverse event files and complaint files, and include any submission to a regulatory advisory board, marketing authorization application, and any supplement or amendment
thereto. 
 1.216. “Release” has the meaning set forth in Section 12.3(c). 

1.217. “Replacement Notice” has the meaning set forth in Section 2.10(d)(i). 

1.218. “Response Notice” has the meaning set forth in Section 2.3(d). 

1.219. “Reviewing Party” has the meaning set forth in Section 12.3(c). 

1.220. [***] 

1.221. [***] 

1.222. [***] 

1.223. “Royalty Term” has the meaning set forth in Section 8.5(b). 

1.224. “RSV” means human respiratory syncytial virus, [***]. 

1.225. “RSV Field” means the prevention, treatment, control, palliation or elimination of RSV infection. 

1.226. “SEC” has the meaning set forth in Section 12.3(b). 

1.227. “Selling Party” means Merck and its Sublicensees (including its Affiliates that have been granted
sublicenses pursuant to Section 9.4), but not Distributors. 
 1.228. [***] 

  
 17 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.229. [***] 

1.230. “Sublicensee” means any person or entity that is granted a sublicense as permitted by Section 9.4,
either directly by Merck or indirectly by any other Sublicensee (including any Affiliate that is granted a sublicense hereunder but excluding, for clarity, any Distributors). 

1.231. “Supply Agreement” means any supply agreement entered into by the Parties pursuant to Section 4.

 1.232. “Supply Failure” has the meaning set forth in Exhibit A. 

1.233. [***] 

1.234. “Target” means [***]. 

1.235. [***] 

1.236. “Target Product Profile” or “TPP” means, with respect to a given R&D Program,
collectively, [***]. 
 1.237. “Tax” and “Taxation” means any form of tax or taxation,
levy, duty, charge or withholding (including any related fine, penalty, addition to tax, surcharge or interest) imposed by, or payable to, a governmental authority. 

1.238. “Term” has the meaning set forth in Section 15.1. 

1.239. “Terminated Rights” has the meaning set forth in Section 15.4. 

1.240. “Termination Costs” has the meaning set forth in Section 2.15(d)(i). 

1.241. “Territory” means all the countries and territories of the world. 

1.242. “Therapeutic Product” means, [***]. 

1.243. “Third Party” means any Person other than Moderna, Merck and their respective Affiliates. 

1.244. “Third Party Acquiror” has the meaning set forth in Section 11.8(b). 

1.245. “Third Party Claims” has the meaning set forth in Section 14.5(a). 

1.246. “Third Party Exclusive Target” means a Target regarding which Moderna or its Affiliates has, as of the
Effective Date ([***]), granted to a Third Party [***] for such Target, which license would preclude Moderna from granting licenses or other rights to Merck to Develop or Commercialize [***] for such Target hereunder. 

1.247. “TPP Notice” has the meaning set forth in Section 2.9(b). 

  
 18 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.248. “United States” or “U.S.” means the
United States of America, including its territories and possessions, the District of Columbia and Puerto Rico. 
 1.249.
“Upfront Payment” has the meaning set forth in Section 8.1. 
 1.250. “Vaccine
Product” means [***]. 
 1.251. “Valid Claim” means, [***]. 

1.252. [***] 

1.253. “Violation” means that Moderna or any of its officers or directors or any other Moderna personnel (or
other permitted agents of Moderna performing activities hereunder) has been: (1) convicted of any of the felonies identified among the exclusion authorities listed on the U.S. Department of Health and Human Services, Office of Inspector General
(OIG) website, including 42 U.S.C. 1320a-7(a) (http://oig.hhs.gov/exclusions/authorities.asp); (2) identified in the OIG List of Excluded Individuals/Entities (LEIE) database (http://exclusions.oig.hhs.gov/)
or listed as having an active exclusion in the System for Award Management (http://www.sam.gov); or (3) listed by any US Federal agency as being suspended, proposed for debarment, debarred, excluded or otherwise ineligible to participate in
Federal procurement or non-procurement programs, including under 21 U.S.C. 335a (http://www.fda.gov/ora/compliance_ref/debar/) (each of (1), (2) and (3) collectively the “Exclusions Lists”).

 1.254. [***] 

1.255. [***] 
 2.
R&D Collaboration. 
 2.1. General. Subject to and in accordance with the terms of this Agreement,
during the R&D Term the Parties will [***] undertake Development activities as set forth in R&D Plans with the goal of identifying and Developing Collaboration mRNA Constructs and Product Candidates directed to R&D Program Pathogens,
[***] the “R&D Programs”) and (c) [***]. Following the expiration of the R&D Term there will be a Post-R&D Period during which Merck may define up to five (5) Target Product
Profiles for which Merck may Develop [***] Product Candidates incorporating Collaboration mRNA Constructs from the Product Candidate Pool for such Target Product Profiles. Prior to the expiration of the Collaboration Term, Merck may designate up to
five (5) Elected Candidates for which Merck will continue Development, [***] and Commercialization activities. All of the foregoing shall be subject to and in accordance with the terms of this Agreement. 

2.2. R&D Term. 

(a) Duration. Unless (i) terminated pursuant to Section 15 hereof, (ii) extended by Merck as set forth in
Section 2.2(b), or (iii) extended on an R&D Program-by-R&D Program basis pursuant to Section 2.8(c), the term of the R&D Collaboration will
commence on the Effective Date and continue for a period of three (3) years (the “Initial R&D Term”). 

  
 19 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Extension Right. If, upon expiration of the Initial R&D
Term, Merck (a) has not designated its fifth (5th) Elected Candidate in accordance with Section 2.10 and [***], Merck may, at its written election, extend the R&D Collaboration for
[***] that will begin upon the expiration of the Initial R&D Term and end on the earlier to occur of (i) the fourth anniversary of the Effective Date and (ii) the date on which Merck designates its fifth (5th) Elected Candidate hereunder (the “R&D Extension Term”, and together with the Initial R&D Term, the “R&D Term”). Merck may exercise such right by
providing written notice to Moderna at [***] prior to the expiration of the Initial R&D Term and, subject to [***], the R&D Extension Term will automatically go into effect. Absent further agreement of the Parties but subject to
Section 2.8(c) for an applicable R&D Program, the maximum duration of the R&D Term is four (4) years, and all R&D Programs will terminate upon expiration of the R&D Term. 

(c) Discontinuance of a given R&D Program by Merck. Merck shall have the right, in its discretion, to discontinue a
given R&D Program upon [***] prior written notice to Moderna. Upon the effective date of any such discontinuance, such R&D Program will become a Discontinued Program. For clarity, any such notice shall not be applicable to any other R&D
Programs or otherwise affect the R&D Term. 
 2.3. R&D Program Initiation. 

(a) R&D Program Proposals. Subject to the remainder of this Section 2.3, at any time during the R&D Term,
Merck may propose new R&D Programs by providing Moderna with written notice identifying for each such proposed new R&D Program, (i) the proposed R&D Program Pathogen, the proposed R&D Targets (and, if applicable, [***]), and
(ii) if Merck is nominating a new R&D Program to replace an existing R&D Program, the R&D Program that is being replaced (each such notice, an “R&D Program Proposal”), provided that the number of concurrent
R&D Programs in effect during the R&D Term may not exceed [***]. If an R&D Program Proposal submitted by Merck satisfies the requirements of this Section 2.3(a), Section 2.3(b) and Section 2.3(c), the proposed R&D
Program will become an R&D Program hereunder. Any R&D Program that is being replaced by a new R&D Program will be a Discontinued Program hereunder. 

(b) Inclusion of R&D Targets. Merck may nominate and include any Merck Exclusive Target as an R&D Target in any
R&D Program Proposal. Furthermore, during the R&D Term, Merck at its sole discretion may add or remove any Merck Exclusive Target as an R&D Target of an established R&D Program by providing written notice to Moderna. 

(c) Inclusion of R&D [***] Targets. 

(i) Subject to the remainder of this Section 2.3(c), Merck may nominate and include any [***] Target as an R&D [***]
Target in any R&D Program Proposal, provided that [***]. 
 (ii) [***] 

(iii) Notwithstanding any other provision of this Agreement to the contrary: 

A. [***] 

  
 20 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 B. [***] 

C. [***] 

D. [***] 

(iv) Subject to the terms and conditions of this Agreement, during the R&D Term, Merck may add or remove any [***] Target
as an R&D [***] Target of an established R&D Program by providing written notice to Moderna; provided that if Merck desires to add a [***] Target, the foregoing provisions of this Section 2.3(c) shall apply. 

(v) At least [***] during the R&D Term, the JSC will review Merck’s Development efforts with respect to R&D [***]
Targets against available data and anticipated experimental plans of such R&D Programs and [***]. Merck agrees that it will make available to Moderna, in advance of each such review by the JSC, a copy of the relevant data and results generated
from the applicable R&D Program that would be useful for the JSC’s review (which will be Confidential Information of Merck). 

(d) R&D Program Proposal Review and Addition of R&D [***] Target. Within [***] of Moderna’s receipt of an
R&D Program Proposal issued in accordance with Section 2.3(a), or a proposal to add a new R&D Target or R&D [***] Target to an R&D Program in accordance with Section 2.3(b) or 2.3(c), as applicable, Moderna will provide
Merck with written notice (each such notice, a “Response Notice”) indicating whether or not the R&D Program Proposal and the proposed R&D Program satisfy the requirements of Sections 2.3(a), 2.3(b) and 2.3(c). If Moderna
notifies Merck in a Response Notice that the R&D Program Proposal and the proposed R&D Program described therein (or the addition of new Targets, as applicable) satisfy the requirements of Sections 2.3(a), 2.3(b) and 2.3(c), as applicable,
or Moderna fails to provide a Response Notice to Merck within such [***] period, such proposed R&D Program or proposed additional Targets, as applicable, will be included as an R&D Program. 

(e) Non-Conforming Proposals. If Moderna issues a Response Notice stating that
the R&D Program Proposal or the proposed R&D Program (or additional Targets, as applicable) described therein does not satisfy the requirements of Sections 2.3(a), 2.3(b) and 2.3(c), then Moderna will include in such Response Notice the
specific provision of 2.3(a), 2.3(b) or 2.3(c) that such R&D Program Proposal, proposed R&D Program or proposed additional Target, as applicable, failed to satisfy. If Merck in good faith disputes any assertion by Moderna in a Response
Notice, Merck may deliver written notice of such dispute to Moderna within [***] of Merck’s receipt of the applicable Response Notice, in which case the dispute will be resolved in accordance with the dispute resolution procedure set forth in
[***]. 
 (f) Confirmation. Once a R&D Program Proposal and the proposed R&D Program (or additional Targets,
as applicable) are confirmed to comply with the requirements of this Agreement pursuant to Sections 2.3(d) or 2.3(e) or pursuant to the dispute resolution procedure set forth in [***], as applicable, (i) such proposed R&D Program will
become an R&D Program, (ii) the proposed R&D Program Pathogens will become the R&D Program Pathogens for such R&D Program, and (iii) the proposed R&D Targets and proposed R&D [***] Targets will become the R&D
Targets and R&D [***] Targets for such R&D Program, as applicable. 

  
 21 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (g) JSC List. The JSC will maintain a current list of all R&D
Program Pathogens, R&D Targets and R&D [***] Targets included in each R&D Program. 
 2.4. R&D Plans.

 (a) R&D Plan Preparation. 

(i) Collaboration Activities of the Parties with respect to each R&D Program, but excluding [***] will be described in
separate written Development plans (each, an “R&D Plan”). Within [***] of the establishment of a new R&D Program in accordance with Section 2.3, Merck shall prepare an R&D Plan for such R&D Program, which
R&D Plan shall set forth: [***], provided that the Parties acknowledge and agree that, [***]. 
 (ii) Merck shall
provide the proposed R&D Plan to Moderna for review and comment by Moderna, which comments shall be provided within [***] of receipt. To the extent Merck agrees with such comments, Merck shall update the proposed R&D Plan accordingly.
Notwithstanding the foregoing, if Moderna, in good faith provides comments to Merck within such [***]-period reflecting Moderna’s reasonable belief that [***]. 

(b) Contents. The purpose of each R&D Plan is to set forth [***]. 

(c) Responsibilities. The Parties acknowledge and agree that (i) it is their expectation that each R&D Plan
will provide that Merck will be primarily responsible for preclinical Development activities (excepting those preclinical Development activities that are specified in an R&D Plan as being Moderna’s responsibility), (ii) Moderna, subject to
Section 2.5 and Section 4 and Exhibit A, will be responsible for designing Collaboration mRNA Constructs and Manufacturing all Moderna mRNA API for use under any R&D Program during the R&D Term, [***], and (iii) unless
otherwise agreed to by the Parties pursuant to Section 4, Merck shall be responsible for Manufacturing Drug Product utilizing Moderna mRNA API supplied by or on behalf of Moderna for use under any R&D Program during the R&D Term. 

(d) Updates. Each of Merck and Moderna will have the right to propose modifications or amendments to a given R&D
Plan, provided that, subject to Section 2.7, any modifications or amendments to any R&D Plan that are proposed by either Party will be subject to review and approval by the JSC pursuant to and in accordance with the terms of
Section 3.2(c). 
 2.5. Moderna Design Activities. For each R&D Program, Moderna shall design [***]
Collaboration mRNA Constructs [***], and such Collaboration mRNA Constructs will be Manufactured and supplied by or on behalf of Moderna in accordance with Section 4.1 for use in the applicable R&D Program. For purposes of this Agreement,
the design activities included in the Customary Design/Manufacturing Activities, shall be deemed to be performed under the R&D Plan (and R&D Program) and shall be subject to the same terms and conditions hereunder (other than cost
reimbursement) as are applicable to the performance of activities under an R&D Plan (and R&D Program), mutatis mutandis. [***] 

2.6. [***] 

2.7. [***] 

  
 22 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.8. Program Performance. 

(a) Generally. Each Party will use Commercially Reasonable Efforts to perform (itself or through its Affiliates or by
permitted subcontracting hereunder) its respective obligations under each R&D Program, and will cooperate with and provide reasonable support to the other Party in such other Party’s performance of its responsibilities under such Program.
Each Party will keep the other Party reasonably informed of such Party’s Development activities under each R&D Program and will reasonably consult with such other Party and reasonably consider such other Party’s comments and advice
with respect to all material decisions relating to such activities. The Parties acknowledge and agree that no outcome or success is or can be assured and that failure to achieve desired results will not in and of itself constitute a breach or
default of any obligation in this Agreement (notwithstanding the focus of the R&D Programs described above). 
 (b)
FTEs. Moderna will support the Development and other activities to be undertaken by Moderna hereunder as set forth in each R&D Plan, with FTEs selected by Moderna to perform such activities, provided such FTEs will [***]. Moderna’s
obligation to provide FTEs across all R&D Programs (excluding the [***]) at any one time shall not exceed [***] without Moderna’s prior written consent. For clarity, Moderna shall also be required to provide, at its own cost, sufficient
FTEs to perform the [***]. 
 (c) [***] 

2.9. Target Product Profile; Product Candidate Designation. 

(a) Target Product Profile. During the Post R&D Period, Collaboration Activities will be directed to the Development
of Collaboration mRNA Constructs against specified Target Product Profiles, in each case as determined [***]. 
 (b)
[***] 
 (c) Product Candidate Pool Determination. Prior to issuing any TPP Notice, Merck will review
the most current data and results generated from performance of the applicable R&D Program and will make a good faith determination, based on such data and results, as to which Collaboration mRNA Constructs from such R&D Program should be
included in the Product Candidate Pool [***]. 
 (d) [***] 

(e) [***] 

(f) Discontinuance of a given TPP by Merck. Merck shall have the right, in its discretion, to discontinue a given TPP
upon [***] prior written notice to Moderna. Upon the effective date of any such discontinuance, such TPP shall no longer exist and all [***] under such discontinued TPP [***] will become Discontinued Targets and all Collaboration mRNA Constructs in
the Product Candidate Pool for such TPP will become Discontinued mRNA Constructs (to the extent such mRNA Constructs are not within another Product Candidate Pool). For clarity, any such notice shall not be applicable to any other TPP. 

  
 23 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.10. Elected Candidate Designation.  

(a) Elected Candidate Notice. Prior to the expiration of the Collaboration Term, Merck may designate a Product Candidate
as an “Elected Candidate” hereunder by providing Moderna with written notice of the same (an “Elected Candidate Notice”); provided that Merck may make no more than five (5) such designations, in the aggregate,
hereunder (the “Elected Candidate Cap”). Upon Moderna’s receipt of the Elected Candidate Notice, such designated Product Candidate will be an Elected Candidate. For the avoidance of doubt, a separate Elected Candidate Notice is
required for each of the five (5) possible designations of Elected Candidates, and following the designation of the fifth (5th) Elected Candidate, Merck shall no longer have the right to
designate any additional Elected Candidates hereunder. 
 (b) Target Product Profile Update. Within [***] of the
designation of an Elected Candidate, Merck shall update, if required, the Target Product Profile from which such Elected Candidate was selected by providing written notice to Moderna of [***]. 

(c) Designation of Patents. At the time an Elected Candidate is selected, the Parties shall mutually agree upon which
[***] claim or cover such Elected Candidate; provided that if the Parties are not able to agree upon which category of Patents a particular patent falls into, such disagreement shall be resolved in accordance with the dispute resolution procedure
set forth in[***]. 
 (d) Replacement of Elected Candidates. 

(i) Elected Candidate Replacement Notice. Subject to Section 2.10(d)(ii), on an Elected Candidate-by-Elected Candidate basis, Merck may elect at any time prior to the earlier to occur of [***], to replace such Elected Candidate with a back-up Elected Candidate (a “Back-Up Elected Candidate”) by providing Moderna with written notice of same (a “Replacement Notice”). 

(ii) Back-Up Elected Candidate. Each
Back-Up Elected Candidate identified in a Replacement Notice (i) may be comprised of [***], and (ii) must have [***]. For the avoidance of doubt, [***]. 

(iii) Moderna Support. Following Merck’s issuance of a Replacement Notice, Merck may request Moderna’s
reasonable support to initiate the Manufacturing of the Backup Elected Candidate, such support from Moderna not to be unreasonably conditioned or withheld. Any such support will be conducted consistent with the terms of this Agreement and any
applicable Supply Agreement, and Merck will pay for any reasonable expenses incurred by Moderna in providing such support. 

(iv) Results of Elected Candidate Replacement. Upon any replacement of an Elected Candidate pursuant to this
Section 2.10(d), (A) the Back-Up Elected Candidate that replaced such Elected Candidate shall be deemed to be the same Elected Candidate as the Elected Candidate that is being replaced for the purposes of
(1) Merck’s Milestone Payment obligations hereunder, and (2) the Elected Candidate Cap and (B) such Elected Candidate that was replaced shall no longer be the Elected Candidate from such TPP and the Collaboration mRNA Constructs
in such replaced Elected Candidate remain part of the Product Candidate Pool. 

  
 24 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (v) Target Product Profile Update. Within [***] of the designation of
a Back-Up Elected Candidate, Merck shall update, if required, the Target Product Profile from which such Back-Up Elected Candidate was selected by providing written
notice to Moderna of [***]. 
 (vi) Designation of Patents. At the time a
Back-Up Elected Candidate is selected, the Parties shall mutually agree upon which [***] claim or cover such Back-Up Elected Candidate; provided that if the Parties are
not able to agree upon which category of Patents a particular patent falls into, such disagreement shall be resolved in accordance with the dispute resolution procedure set forth in [***]. 

2.11. [***]. 

(a) [***] 

(b) [***] 

(c) [***] 

(d) Merck [***]. 

(e) [***] [***] 

2.12. Subcontracting. Each Party may subcontract any of its activities to be performed under this Agreement to an
Affiliate or Third Party, provided that any such Third Party will have entered into a written agreement with such Party that includes terms and conditions protecting and limiting use and disclosure of Confidential Information and Know-How at least to the same extent as under this Agreement, and such Party shall require such Affiliate or Third Party and its personnel to assign to such Party all right, title and interest in and to any Patents
or Know-How created, conceived or discovered in connection with the performance of subcontracted activities. [***]. Each Party shall oversee the performance by any of its Affiliate or Third Party
subcontractors, and shall remain responsible and primarily liable for the performance of such activities in accordance with this Agreement. Each Party hereby expressly waives any requirement that the other Party exhaust any right, power or remedy,
or proceed against any subcontractor for any obligation or performance hereunder, prior to proceeding directly against the Party engaging the subcontractor. 

2.13. Collaboration Records, Reports and Materials. 

(a) Records. Each Party will maintain, or cause to be maintained, records of its activities under the R&D
Programs [***] in sufficient detail and in good scientific manner appropriate for scientific, Patent and regulatory purposes, that will properly reflect all work performed therein, for a period consistent with such Party’s record retention
policies, but in no event less than required by applicable Laws. Each Party will have the right to reasonably request a copy of any such records upon providing reasonable rationale for needing such records. 

  
 25 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Collaboration Reports. Each Party will furnish to the JSC a
summary written report within [***] after each [***] and [***] occurring during the R&D Term, describing its progress under the R&D Plans and [***] as part of the Collaboration Activities during the previous [***] period. Each Party agrees
that it will promptly respond to the other Party’s reasonable questions regarding any of such Party’s reports. 

(c) Materials. Each Party will use any Materials provided by the other Party hereunder only in accordance with the
R&D Plans and otherwise in accordance with the terms and conditions of this Agreement (including [***]) and any reasonable instructions provided by the Party furnishing the Materials. Except with the prior written consent of the supplying Party
[***], the Party receiving any Materials will not distribute or otherwise allow the release of such Materials to any Third Party, except for [***]. All Materials delivered to the receiving Party, other than [***], will remain the sole property of
the supplying Party and will be used in compliance with all applicable Law. The Materials supplied under this Agreement will be used with prudence and appropriate caution in any experimental work because not all of their characteristics may be
known. 
 2.14. Post-R&D Period. 

(a) Generally. The purpose of the Post-R&D Period is to provide Merck with
an opportunity to, at its election, further Develop Product Candidates. Subject to Section 2.14(b) and any obligation of Moderna to supply Merck with Moderna mRNA API, Merck will be solely responsible for all Development activities during the Post-R&D Period. 
 (b) Moderna Activities. If during the Post-R&D Period, Merck reasonably requests that Moderna perform additional activities (excluding [***]) in support of Merck’s Development of Product Candidates, Elected Candidates or Products during the Post-R&D Period, the Parties will negotiate in good faith the terms and conditions of such performance; provided, however, that the Parties acknowledge and agree that, unless otherwise agreed to by the Parties,
the terms and conditions of this Agreement shall apply to any such activities, [***] (each, a “Post R&D Plan”), and in connection therewith, the provisions of Sections 2.4(a)(ii) and 2.4(b) shall apply, mutatis mutandis.
Upon finalization of such Post R&D Plan, Moderna will use Commercially Reasonable Efforts to perform (itself or through its Affiliates or by permitted subcontracting pursuant to Section 2.12) such activities in accordance with the terms and
conditions of this Agreement as if such Post R&D Plan were an R&D Plan hereunder, mutatis mutandis. 
 (c) Non-cGMP mRNA Construct Supply. In addition to Section 4, Exhibit A and any Supply Agreement, during the Post-R&D Period Merck may request, and Moderna
will supply, reasonable quantities of Collaboration mRNA Constructs for Merck to conduct such assays and Development as necessary to identify and nominate new Product Candidates, provided that the Parties acknowledge and agree that Merck may
only request Collaboration mRNA Constructs that were included in a Product Candidate Pool established pursuant to Section 2.9. 

(d) [***] 

(i) [***] 

(ii) [***] 

  
 26 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.15. Termination of Collaboration Activities. 

(a) Collaboration Activity Termination. Each Party will perform its respective activities for a given R&D Program as
set forth in the R&D Plan for such R&D Program until the earlier to occur of [***]. Subject to Moderna’s obligation to supply Merck with Moderna mRNA API and/or Drug Product as set forth in Section 4, all Development work performed
hereunder by Moderna will terminate upon the expiration of the R&D Term, unless Moderna will perform Development activities to support Merck’s Development of Product Candidates during the Post-R&D
Period pursuant to Section 2.14(b). 
 (b) R&D Program Termination. At the expiration of the R&D Term,
(i) all R&D Programs will become “Discontinued Programs” (ii) all R&D Targets and R&D [***] Targets that are not Locked Targets will become Discontinued Targets and (iii) all Collaboration mRNA Constructs that are not
in a Product Candidate Pool will become Discontinued mRNA Constructs. For the avoidance of doubt, upon the expiration of the R&D Term, [***]. 

(c) [***] of Effective Date. Upon the [***] of the Effective Date[***] For the avoidance of doubt, upon the [***] of the
Effective Date, [***]. [***] 
 (d) Discontinued Items. 

(i) In the event an R&D Program is discontinued or replaced by Merck pursuant to Section 2.2(c) or 2.3(a), as
applicable and becomes a Discontinued Program, the rights and obligations of the Parties under the applicable R&D Work Plan shall terminate, and the Out-of-Pocket
Costs incurred by Moderna and its Affiliates with respect to such R&D Program will be deemed to include amounts payable for non-cancellable commitments made to Third Parties in order to [***] (the
“Termination Costs”). 
 (ii) The licenses and other rights granted to Merck hereunder will not apply with
respect to any Discontinued Program, Discontinued Target or Discontinued mRNA Construct. 
 (iii) Subject to Section 11,
Merck hereby grants to Moderna a non-exclusive, royalty free and fully paid-up, [***], sublicenseable (through multiple tiers), worldwide license under the Merck
Collaboration Technology owned by Merck or its Affiliate relating to any Discontinued mRNA Construct to Exploit such Discontinued mRNA Constructs and mRNA Products incorporating such Discontinued mRNA Constructs in any field (other than within the
TPP of any Elected Candidate or Product), provided that [***]. 
 2.16. Compliance. 

(a) General. Moderna shall conduct the R&D Programs and other activities hereunder in compliance with all applicable
Laws. Moderna shall notify Merck in writing of any deviations from applicable Laws. In addition, Moderna hereby certifies that it has not employed or otherwise used in any capacity and will not employ or otherwise use in any capacity, the services
of any person debarred under United States law, including Section 21 USC 335a, or any foreign equivalent thereof, in performing any portion of an R&D Program and other activities hereunder. Moderna shall notify Merck in writing immediately
if any such debarment occurs or comes to its 

  
 27 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
attention, and shall, with respect to any person or entity so debarred promptly remove such person or entity from performing any R&D Program activities and other activities hereunder,
function or capacity related thereto. Without limiting the foregoing, if animals are used in Development hereunder, Moderna will comply with the Animal Welfare Act and any other applicable Laws relating to the care and use of laboratory animals.
Merck encourages Moderna to use the highest standards, such as those set forth in the Guide for the Care and Use of Laboratory Animals (NRC, 1996), for the humane handling, care and treatment of such research animals. Any animals which are used in
the course of an R&D Program or other activities hereunder, or products derived from those animals, such as eggs or milk, will not be used for food purposes, nor will these animals be used for commercial breeding purposes. 

(b) Use of Human Materials. Without limiting the provisions of Section 2.16(a), if any human cell lines, tissue,
human clinical isolates or similar human-derived materials (“Human Materials”) are to be collected and/or used in an R&D Program or other activity hereunder, Moderna represents and warrants (i) that it shall comply, with
all applicable Laws relating to the collection and/or use of the Human Materials and (ii) that it has obtained or shall obtain, all necessary approvals and appropriate informed consents, in writing, for the collection and/or use of such Human
Materials. Moderna shall provide documentation of such approvals and consents upon Merck’s request. Moderna further represents and warrants that such Human Materials may be used as contemplated in this Agreement without any obligations to the
individuals or entities (“Providers”) who contributed the Human Materials, including any obligations of compensation to such Providers or any other Third Party for the intellectual property associated with, or commercial use of, the
Human Materials for any purpose. 
 (c) Compliance with Corporate Policy. Moderna acknowledges that Merck’s
corporate policies require that business must be conducted within the letter and spirit of the law. By signing this Agreement, Moderna agrees to conduct the activities contemplated herein in a manner which is consistent with both law and good
business ethics. 
 (d) Business Partner Code of Conduct. Merck endeavors to hold itself and its business partners to
the highest performance, ethical and compliance standards, including basic human rights, encouraging fair and equal treatment for all persons, the provision of safe and healthy working conditions, respect for the environment, the adoption of
appropriate management systems and the conduct of business in an ethical manner. In performing its duties under this Agreement, Moderna acknowledges the value and importance of performance and ethical behavior in its performance under this
Agreement. Without limiting any of Moderna’s other obligations hereunder, Merck expects that Moderna will abide by the letter and spirit of Merck’s Supplier Performance Expectations and Business Partner Code of Conduct (the
“Code”), a copy of which is available at
http://www.merck.com/about/how-we-operate/code-of-conduct/values.html, in its performance
of this Agreement. Moderna is also expected to follow the Pharmaceutical Supply Chain Initiative (PSCI) principles, a copy of which is available at http://www.pharmaceuticalsupplychain.org/. 

(e) Governments and International Public Organizations. Without limitation of the foregoing, Moderna warrants that none
of its employees, agents, officers or other members of its management are officials, officers, agents, representatives of any government or international public organization. Moderna agrees that it shall not make any payment, either directly or

  
 28 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
indirectly, of money or other assets, including to the compensation derived from this Agreement (hereinafter collectively referred as a “Payment”), to government or political
party officials, officials of international public organizations, candidates for public office, or representatives of other businesses or persons acting on behalf of any of the foregoing (hereinafter collectively referred as
“Officials”) where such Payment would constitute a violation of any Law. In addition, regardless of legality, Moderna shall make no Payment either directly or indirectly to Officials if such Payment is for the purpose of influencing
decisions or actions with respect to the subject matter of this Agreement or any other aspect of Merck’s businesses. 

(f) No Authority. Moderna acknowledges that no employee of Merck or its Affiliates shall have authority to give any
direction, either written or oral, relating to the making of any commitment by Moderna or its agents to any Third Party in violation of terms of this or any other provisions of this Agreement. 

(g) Exclusions Lists. Moderna certifies to Merck that as of the Effective Date Moderna has screened itself, and its
officers and directors, against the Exclusions Lists and that it has informed Merck whether Moderna, or any of its officers or directors has been in Violation. After the execution of this Agreement, Moderna shall notify Merck in writing immediately
if any Violation occurs or comes to its attention, and shall, with respect to any person or entity in Violation, promptly remove such person or entity from performing any R&D Program activities or and other activities hereunder, function or
capacity related thereto. 
 3. Governance. 

3.1. Collaboration Management. Promptly after the Effective Date, each Party will appoint a person who will oversee day-to-day contact between the Parties for all matters related to the management of the Collaboration Activities in between meetings of the JSC and will have such other
responsibilities as the Parties may agree in writing after the Effective Date. One person will be designated by Merck (the “Merck Program Director”) and one person will be designated by Moderna (the “Moderna Program
Director,”) together will be the “Program Directors”. Each Party may replace its Program Director at any time by notice in writing to the other Party. Any Program Director may designate a substitute to temporarily perform
the functions of that Program Director by written notice to the other Party. The initial Program Directors will be: 
 For
Moderna: [***] 
 For Merck: [***] 

3.2. Joint Steering Committee. 

(a) Formation and Membership. As soon as practicable (but not later than sixty (60) days) following the Effective
Date, the Parties will establish a joint steering committee (the “JSC”), comprised of [***] representatives of Moderna (or its Affiliate) and [***] representatives of Merck (or its Affiliate). Each JSC member will be a senior
development leader or have similar experience and expertise as a senior development leader. Each Party may replace its representatives on the JSC at any time upon written notice to the other Party. With the consent of the other Party (such consent
not to be unreasonably withheld, delayed or conditioned), each Party may invite non-voting employees and consultants to attend meetings of the JSC, subject to their agreement to be bound to the same extent as
a permitted subcontractor under Section 2.12.

  
 29 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Meetings. While in existence, the JSC will meet [***] (or more
frequently as may be determined by the JSC) and may hold meetings in person or by audio or video conference as determined by the JSC, but at a minimum, [***] of such meetings each Calendar Year starting in 2015 will be in person (which in-person meeting will be held at one of Moderna’s U.S. facilities, and the other held at Merck’s U.S. facilities). Meetings of the JSC will be effective only if at least [***] representative of each Party
is present or participating. Each Party will be responsible for all of its own expenses of participating in the meetings. The Parties will endeavor to schedule meetings of the JSC at least [***] in advance. The JSC will determine the JSC operating
procedures, which shall in all cases be consistent with the terms of this Agreement, and will codify these operating procedures in the written minutes of the first meeting (or subsequent meetings as such procedures are updated). The JSC will prepare
and circulate a meeting agenda prior to each such meeting. The Parties will alternate in preparing written minutes of such meeting, and the preparing Party will circulate such minutes within [***] after such meeting. The Parties will
agree on the minutes of each meeting promptly, but in no event later than the next meeting of the JSC. Each Party will designate one of its [***] representatives who is empowered by such Party to make decisions regarding issues within the purview of
the JSC as set forth below in Section 3.2(c) to act as the co-chair of each JSC. The co-chairs will be responsible for overseeing the activities of its JSC members
consistent with the responsibilities set forth in Section 3.2(c). 
 (c) Responsibilities. The JSC will oversee
the Collaboration Activities and the performance of the R&D Plans. The JSC may form project teams to deal with the day-to-day work to execute the R&D Plans.
Without limiting the generality of the foregoing, within such scope, the JSC will have the following responsibilities: 
 (i)
Review each Party’s performance of Collaboration Activities; 
 (ii) Review and approve (other than the [***]) any
proposed modifications or amendments to any R&D Plan; 
 (iii) Prioritize and oversee execution of specific activities to
be performed under the R&D Plans [***]; 
 (iv) Review data, reports or other information submitted by either Party with
respect to Development activities performed under R&D Plans [***]; 
 (v) Form such other committees or project teams as
the JSC may deem appropriate (including any project teams to deal with the day-to-day work to execute any R&D Plan [***]) and oversee the work of any committees or
project teams formed by the JSC, including by receiving and reviewing reports and other information submitted by those joint committees and project teams (if applicable); provided, that any such committee or project team may make
recommendations to the JSC but may not be delegated JSC decision-making authority; 
 (vi) Review proposed publications
regarding the results of the R&D Programs proposed to be published in accordance with Section 12.2; 

  
 30 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (vii) Review Third Party technology identified by Moderna that could have
reasonable utility for the Collaboration Activities; and 
 (viii) Attempt to resolve any disputes relating to this Agreement
on an informal basis. 
 (d) Decision-making. The [***] JSC representatives of each Party will collectively have one
(1) vote. The JSC members will use diligent efforts to reach agreement on all matters. If, despite such efforts, agreement on a particular matter cannot be reached by the JSC within [***] days after the JSC first considers such matter (or such
shorter time as may be reasonable in the circumstances), then [***]. 
 (e) Resolution of Certain Matters.
Notwithstanding the provisions of Section 3.2(d) in the event of a dispute or disagreement arising in, or referred to, the JSC relating to [***] that cannot be resolved by the members of the JSC, upon the written request of a Party, such matter
will be referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good faith to resolve such dispute by negotiation and consultation for a [***]
period following receipt of such written notice. If, despite such efforts, agreement on a particular matter cannot be reached by the Executive Officers within such [***] period, then [***]. 

(f) Limits on JSC Authority. Each Party will retain the rights, powers and discretion granted to it under this Agreement
and no such rights, powers, or discretion will be delegated to or vested in the JSC unless such delegation or vesting of rights is expressly provided for in this Agreement or the Parties expressly so agree in writing. The JSC will not have the power
[***]. Any dispute between the Parties regarding the issues set forth in this Section 3.2(f) will be resolved pursuant to the procedures set forth in [***]. 

(g) JSC Term. The JSC will cease to exist [***] after the end of the R&D Term, provided that during the Post R&D
Period, the JSC shall be maintained to oversee any ongoing activities but it shall meet on ad hoc basis to govern activities as specified in Section 2.14. 

4. Moderna mRNA API and Drug Product Supply. 

4.1. Non-cGMP Supply. The following provisions of this Section 4.1
shall apply with respect to Manufacture of non-cGMP Moderna API: 
 (a)
Manufacture by Moderna. Moderna will Manufacture (or have Manufactured) and supply to Merck, and Merck will purchase exclusively from Moderna, [***], quantities of non-cGMP Moderna mRNA API as Merck may
reasonably require in connection with the performance of its Collaboration Activities. Such supply shall be in accordance with the terms of this Section 4.1 and the terms with respect to non-cGMP Moderna
API or supply hereunder set forth in Exhibit A, including the pricing terms set forth therein. Merck shall issue purchase orders in substantially the form set forth on Schedule 1 to Exhibit A to Moderna for the purchase of non-cGMP Moderna mRNA API (the “non-cGMP Order Form”). [***] 

(b) mRNA Construct Cap. During the R&D Term or Post R&D Period, as applicable, the aggregate number of different
non-cGMP mRNA Constructs being Manufactured [***] by Moderna under this Agreement may not exceed the Non-cGMP Construct Cap without Moderna’s prior written consent.
[***] For the purposes of the foregoing: 

  
 31 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (i) During the R&D Term, the
non-cGMP Construct Cap shall be [***] (“the “Non-cGMP Construct Cap”) [***]; 

(ii) During the Post-R&D Period [***], the
non-cGMP Construct Cap shall be [***]; 
 (iii) During the Post-R&D Period [***], the Non-cGMP Construct Cap shall be [***]. 

4.2. cGMP Moderna mRNA API Supply for Early Clinical Studies. The Parties shall negotiate and execute a clinical supply
agreement and quality agreement containing the provisions set forth in Exhibit A, and such other terms and conditions that are customary for agreements of this type as the Parties mutually agree (the “Clinical Supply
Agreement”). Such Clinical Supply Agreement and quality agreement shall be entered into no later than [***] after the Effective Date (or such longer period of time as the Parties may agree), but in any event prior to the commencement of any
activities relating to such supply, and the Parties will enter into specific statements of work for each Product Candidate and Elected Candidate, as additional Product Candidates and Elected Candidates are identified under this Agreement. Without
limiting the Clinical Supply Agreement, the following provisions of this Section 4.2 shall apply with respect to Manufacture of cGMP Moderna mRNA API on a Product
Candidate-by-Product Candidate or Elected Candidate-by-Elected Candidate basis to be
supplied by Moderna under the Clinical Supply Agreement for the period commencing [***]:  
 (a) Manufacture by
Moderna. 
 (i) Moderna will Manufacture (or have Manufactured) and supply to Merck, and Merck will purchase exclusively
from Moderna, quantities of cGMP Moderna mRNA API (on a Product Candidate-by-Product Candidate or Elected
Candidate-by-Elected Candidate basis) as Merck may reasonably require; provided that, [***]. Notwithstanding the foregoing described exclusivity, from and after the
initiation of a Registrational Study with respect to a given Product Candidate or Elected Candidate, Merck and/or its Third Party Manufacturer can Manufacture, and Merck may purchase, cGMP Moderna mRNA API for each such Product Candidate or Elected
Candidate, in accordance with Section 4.3; provided, that, [***]. 
 (ii) In connection with [***], at the reasonable
request of Moderna, Merck may, at Merck’s discretion and to the extent determined by Merck, consult with Moderna regarding [***]. Further, Moderna’s [***]. 

(iii) In the event that Moderna [***], then such supply activities shall be in accordance with the Clinical Supply Agreement.
Within [***] after Merck notifies Moderna of Merck’s reasonably anticipated needs for supplies of cGMP Moderna mRNA API [***], Moderna will [***] 

(iv) If Merck identifies any audit observations in connection with any audit under this Section 4, Exhibit A or the
Clinical Supply Agreement, the Parties will discuss in good faith suitable approaches for correcting such observations, and Moderna shall have a reasonable time following such consultation with Merck to make appropriate corrections. 

  
 32 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (v) [***] 

(vi) Without limiting the foregoing, the Parties acknowledge and agree that the Clinical Supply Agreement will include
provisions addressing material non-compliance with the terms and conditions of the Clinical Supply Agreement, this Section 4 or Exhibit A (including the audit provisions), which provisions will include
appropriate remedies that may include [***] 
 (b) Clinical Supply cGMP Supply Cap. Unless otherwise agreed by the
Parties, during the Collaboration Term, Merck may request cGMP mRNA Constructs pursuant to Section 4.2(a) for up to [***] Product Candidates concurrently, and Moderna will supply such cGMP mRNA Constructs in accordance with the terms of this
Agreement. For the avoidance of doubt, [***], provided that [***]. For the purposes of the foregoing, “concurrently” means with respect to Product Candidates, [***]. 

(c) [***] If Moderna (a) complies with the relevant terms and conditions of Section 4 and Exhibit A (including
the audit provisions), and (b) Moderna complies with the following criteria, then Moderna [***]: 
 (i) Moderna shall
ensure that Merck has the right within [***] after the Effective Date, or such longer period of time as agreed to by Merck, to [***]. Within [***] of receipt of an audit report from Merck, Moderna shall [***]. Upon [***], Moderna shall address and
correct [***] audit observations provided by Merck [***] prior to Manufacturing of cGMP Moderna mRNA API for Merck. 
 (ii)
[***] 
 (iii) [***] 

(iv) As part of Merck’s audit of Moderna’s proposed manufacturing location, Merck’s audit may include [***].

 4.3. cGMP Supply For Registrational Study and Commercial Supply. The following provisions of this Section 4.3
shall apply with respect to Manufacture of cGMP Moderna mRNA API for Registrational Studies and commercial supply on a Product Candidate-by-Product Candidate or Elected Candidate-by-Elected Candidate basis from and after the earlier of [***]: 

(a) [***] 

(b) [***] 

(c) [***] 

4.4. Drug Product. At the request of Merck, and if agreed to by the Parties, such agreement not to be unreasonably
withheld, conditioned or delayed, the Parties shall discuss and agree on the terms pursuant to which Moderna would Manufacture and supply of Drug Product to 

  
 33 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Merck. If the Parties agree to enter into an agreement with respect to the Manufacture and supply of Drug Product, such agreement will include similar terms and conditions, including similar
quality standards and audit rights, as set forth in this Section 4 and Exhibit A; provided, that the Parties acknowledge and agree that different pricing will need to be negotiated with respect to the Manufacture and supply of Drug
Product. 
 5. Regulatory Responsibilities. 

5.1. In General. As set forth in greater detail below in this Section 5, but subject to Sections 5.4, 5.5 and 15.5,
[***] will lead and have sole control of, and bear all costs of, all regulatory efforts for Collaboration mRNA Constructs, Product Candidates, Elected Candidates and Products worldwide, including with respect to preparing and filing the relevant
Regulatory Filings and all communications (formal and informal) with Regulatory Authorities. 
 5.2. Regulatory
Filings. Other than with respect to the performance of the [***], (a) [***] will be responsible for preparing and submitting all Regulatory Filings related to Collaboration mRNA Constructs, Product Candidates, Elected Candidates and Products,
including all applications for Regulatory Approval, and (b) all applications for Regulatory Approval, the Regulatory Approvals, and other Regulatory Filings (including all INDs) relating to Collaboration mRNA Constructs, Product Candidates,
Elected Candidates and Products will be the property of [***] and held in the name of [***] or its designees. 
 5.3.
Interactions with Regulatory Authorities. Other than with respect to the performance of the [***] or as otherwise set forth in Section 4 or Exhibit A, [***] will have the sole right to conduct all communications with the
Regulatory Authorities, including all meetings, conferences and discussions (including advisory committee meetings and formal agency/sponsor meetings), including all requests and materials submitted for such, with regard to Collaboration mRNA
Constructs, Product Candidates, Elected Candidates and Products in the Territory. 
 5.4. [***] 

5.5. Moderna Support for Regulatory Filings. If not previously prepared and filed, Moderna will, at Merck’s
request, prepare and file with all applicable Regulatory Authorities a DMF for the Moderna mRNA API and Moderna shall also provide such other information and assistance as Merck may reasonably request in connection with the completion of and
submission of applications for Regulatory Approvals for Products and the maintenance thereof. Merck and its Affiliates and Sublicensees may refer to such DMF in any filing made in connection with obtaining or maintaining a Regulatory Approval for a
Product. Moderna will be responsible for assuring that during the Term, such DMF will be in the form appropriate for filing with all applicable Regulatory Authorities, including those in the United States, the European Union, Japan and such other
countries as requested by Merck, and such DMF shall be maintained in full force and effect by Moderna during the Term and will not be amended without the consent of Merck. Moderna will, on written request by Merck or its Affiliate or Sublicensee,
provide to the requesting party and to any specified Regulatory Authority a letter, in the form reasonably required by the requesting party, acknowledging that the requesting party has a right of reference to any such DMF. If [***] has not filed
[***] will provide such [***]. In the case where information [***] will provide such other information and assistance [***] in connection with responding to Regulatory Authorities. This includes [***]. 

  
 34 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 6. Development Meetings & Reports; Diligence. 

6.1. Annual Update Meetings. At least [***] during each consecutive [***] period from the date of the Elected Candidate
Notice until the first Regulatory Approval for Product, within [***] of Moderna’s written request, the Parties will meet in person at a U.S. site of Merck for Merck to provide Moderna with an update on the Development of a Product by Merck and
its Affiliates and Sublicensees. 
 6.2. Reports by Merck. Merck will prepare and maintain, and will cause its
Affiliates and Sublicensees to prepare and maintain, reasonably complete and accurate records regarding the Development of Product Candidates, Elected Candidates and Products. At least [***] every [***] period from the Effective Date, Merck shall
provide to Moderna a written progress report which shall [***]. For clarity, all such reports shall be considered the Confidential Information of Merck. 

6.3. Diligence. Merck, directly or through one or more of its Affiliates or Sublicensees, will use Commercially
Reasonable Efforts: to (a) Develop [***] Product Candidate from each TPP; (b) seek to obtain Regulatory Approval for a Product for each Elected Candidate; and (c) Commercialize Products after obtaining such Regulatory Approval. 

7. Third Party In-Licenses. 

7.1. Moderna [***] In-Licenses. 

(a) [***] In-Licenses. All Moderna [***]
In-Licenses shall be deemed to be Moderna Collaboration In-Licenses for purposes of this Agreement and the Patents and Know-How in-licensed under such Moderna [***] In-Licenses will be deemed Moderna Technology, provided that notwithstanding anything to the contrary contained herein (including
Section 7.7), Moderna shall be solely responsible for [***]. 
 (b) Moderna [***]
In-Licenses. In the event that after the Effective Date, Moderna identifies any Patents or Know-How of a Third Party related to the Moderna [***] Technology to which
Moderna (and its Affiliates) does not have rights and that [***] Moderna may independently negotiate and enter into an agreement to obtain a license to such Patents or Know-How (each such agreement, a
“Moderna [***] In-License”). Notwithstanding the foregoing, if any Patents or Know-How licensed to Moderna under a given Moderna [***] In-License are [***] in order for Moderna to perform its obligations under the Collaboration Activities, then such Moderna [***] In-License shall automatically be deemed to be
a Moderna [***] In-License for purposes of this Agreement, and shall be treated in accordance with the provisions of Section 7.1(a). With respect to the Moderna [***]
In-Licenses, Moderna (i) will [***] and (ii) will use [***]. 
 7.2.
Moderna Collaboration Technology In-Licenses. In the event that, Moderna identifies any Patents or Know-How of a Third Party related to the Development or
Commercialization of any Collaboration mRNA Construct, and associated Products, including [***], to which Moderna (and its Affiliates) does not have rights and that [***] pursuant to the 

  
 35 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
terms of this Agreement, in either case other than those related to [***] (each such agreement, a “Moderna Collaboration Technology
In-License”); Moderna may independently negotiate and enter into such Moderna Collaboration Technology In-License to obtain a license to such Patents or Know-How provided that (i) [***], (ii) Moderna will [***] and (iii) will use [***]. 

7.3. Moderna [***] In-Licenses. Moderna shall not use any [***] in connection
with Collaboration Activities that is [***] licensed to Moderna pursuant to a Moderna [***] In-License without the prior written approval of Merck. In the event that Merck desires to use any such [***] in
connection with Collaboration Activities, Merck may provide written notice to Moderna of same, and, [***], such notice will constitute Merck’s approval to use such [***] in connection with Collaboration Activities, (a) such Moderna [***] In-License shall become a Moderna Collaboration In-License in accordance with Section 7.4, and (b) the applicable milestone, royalty and other payments due under the
applicable Moderna Collaboration In-License will be passed through to Merck [***] pursuant to Section 7.7. 

7.4. Moderna Collaboration In-Licenses. Moderna shall notify Merck in writing of
the terms of any Moderna In-License promptly after entering into such Moderna In-License (subject to confidentiality obligations and reasonable redactions), including
any restrictions or obligations with respect to the Prosecution and Maintenance and/or enforcement any Patents licensed thereunder. To the extent that the rights granted to Moderna under a Moderna In-License
are limited (e.g., [***]), Moderna, [***], will equitably apportion such limited rights amongst Moderna and its Affiliates, Merck and Moderna’s and its Affiliates’ Third Party Development and Commercialization partners. If Merck notifies
Moderna in writing that a Moderna In-License should be made available for use by either Party for the performance of Collaboration Activities, or [***], in each case pursuant to the terms of this Agreement and
to the extent permissible under such Moderna In-License (each such Moderna In-License, a “Moderna Collaboration
In-License”), then (a) the Patents and Know-How in-licensed under such Moderna
In-License will be deemed Moderna Technology (but subject to any limitations set forth in such Moderna In-License [***]), and (b) Merck will be required to make the
payments set forth in Section 7.7; provided, that [***]. If Merck concludes that a Moderna In-License should not be made available for use by either Party for the performance of Collaboration
Activities, or made available for use by Merck to Exploit or Optimize Elected Candidates and Products, in each case pursuant to the terms of this Agreement, then [***]. 

7.5. [***] Conversion of Moderna In-Licenses. If Merck [***], then
subject to [***], Merck may [***] elect to convert such Moderna In-License to a Moderna Collaboration In-License by (a) providing written notice to Moderna of the
same and (b) being required to make the payments set forth in Section 7.7; provided, that such amounts have been disclosed to Merck pursuant to Section 7.4. Upon Moderna’s receipt of such notice, Moderna will promptly notify
[***] and, to the extent [***], then such Moderna In-License will thereafter be deemed to a Moderna Collaboration In-License hereunder, and the provisions of this
Agreement applicable to Moderna Collaboration In-Licenses will apply with respect to such Moderna In-License. Notwithstanding the foregoing, prior to converting any
Moderna In-License to a Moderna Collaboration In-License, the Parties will agree on [***]. 

  
 36 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 7.6. Moderna Collaboration
In-License Requirements. Merck will abide, and will cause all its Affiliates and applicable Sublicensees to abide, by all requirements of each Moderna Collaboration
In-License in all material respects (and in any case in all respects in the case that [***]), to the extent applicable to sublicensees thereunder and to the extent disclosed by Moderna to Merck pursuant to
Section 7.4 prior to Merck’s conclusion to have the Moderna In-License made available and converted to a Moderna Collaboration In-License hereunder, with the
understanding that disclosure by Moderna of the terms of any Moderna Collaboration In-License to Merck will be deemed disclosure of such requirements of such Moderna Collaboration In-License so disclosed to Merck. 
 7.7. Moderna Collaboration In-License Payments. If any In-License Payments previously disclosed to Merck pursuant to Section 7.3 or 7.4, as applicable, become due during the Term under any
Moderna Collaboration In-License, Moderna will be responsible for such payments, provided, that Merck will reimburse Moderna for [***] such In-License Payment
within [***] days of Merck’s receipt of Moderna’s invoice therefor (a) that [***]. 
 7.8. Merck In-Licenses. In the event that Merck identifies any Patents or Know-How of a Third Party that may be [***] pursuant to this Agreement, Merck may independently negotiate
and enter into an agreement to obtain a license or other rights to such Patents or Know-How for use in connection with such Development or Commercialization (each such agreement, an “Merck In-License”). Merck will notify Moderna of such Merck In-License. In the event that such notice is given and Moderna concludes that such Merck In-License should be made available for use by Moderna to perform Collaboration Activities or other Manufacturing activities, then the Parties will discuss in good faith whether and on what terms Merck would grant
Moderna rights under any such Merck In-License. 
 7.9. [***] 

7.10. Moderna Collaboration In-Licenses. Moderna represents, warrants and
covenants to Merck that it has [***] as of the Effective Date [***]. Moderna further covenants and agrees that during the Term, (a) it shall satisfy all of its material obligations under (including making all payments), and maintain in full
force and effect, each of the Moderna Collaboration In-Licenses; (b) it will not assign (except an assignment to a party to which this Agreement has been assigned as permitted under Section 16.13),
[***] without the prior written consent of Merck, not to be unreasonably withheld, to the extent any of the foregoing actions would reasonably be expected to have an adverse effect on Merck’s rights hereunder or thereunder or Moderna’s
obligations hereunder; (c) it will provide Merck with prompt notice of any claim of [***] and (d) to the extent permitted under the applicable Moderna Collaboration In-License, it shall promptly
[***]. 
 8. Payments. 

8.1. Up-Front Payment. Within ten (10) Business Days after the Effective
Date and receipt of an invoice from Moderna, Merck will pay to Moderna a one-time payment of US $50,000,000 as consideration for access to Moderna’s research capabilities and the licenses granted herein
(the “Upfront Payment”), which payment will be non-refundable, non-creditable, not subject to set-off, and not
be reduced by any withholding or similar taxes. 

  
 37 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 8.2. R&D Program Costs. Except as set forth in Section 8.3,
commencing on the Effective Date and continuing during the Collaboration Term, Merck will reimburse Moderna for all R&D Program Costs incurred by Moderna and its Affiliates on a Calendar Quarter-by-Calendar Quarter basis. Moderna will send a reasonably detailed invoice to Merck for each Calendar Quarter, which invoice will include a summary of all [***]. All of the foregoing shall be
auditable by Merck pursuant to Section 8.6(c). For clarity, unless otherwise mutually agreed in writing by the Parties, in no event shall Moderna be entitled to receive payment for (and Moderna shall be solely responsible for) any FTEs or other
R&D Program Costs in a given Calendar Quarter in connection with the performance of activities that are not included in the applicable R&D Plan or that are not specifically included in the budget set forth therein. Merck agrees to pay
undisputed amounts in each such invoice within [***] days of Merck’s receipt thereof. 
 8.3. Sharing of Certain
R&D Program Costs. 
 (a) [***] 

(b) [***]  

8.4. Milestone Payments. Subject to the remainder of this Section 8.4, Merck will make the following milestone
payments set forth in Section 8.4(d) (each, a “Milestone Payment”) to Moderna upon the first achievement by Merck (or its Affiliate or Sublicensee) of each of the milestone events set forth in the tables below in
Section 8.4(d) (each, a “Milestone Event”), and such payments when owed or paid will be non-refundable and non-creditable and not subject to set-off. 
 (a) Development Milestones. The Milestone Payments for Development
events are set forth in Table 1 below. Such Milestone Payments will be payable to Moderna by Merck within [***] of the first achievement [***] by Merck (or its Affiliate or Sublicensee) of the applicable Milestone Event with respect to a
Development Milestone Product (as defined below). For the purposes of this Section 8.4, “Development Milestone Product” shall mean: 

(i) With respect to [***]; provided that if [***] 

(ii) With respect to [***]; provided that if [***]; 

(b) Commercialization Milestones. The Milestone Payments for Commercialization Milestone Events are set forth in
Table 2 below. Such Milestone Payments will be payable to Moderna by Merck within [***] days of the end of the Calendar Quarter in which first achievement [***] by Merck of the applicable Milestone Event with respect to a given Product
occurs. 
 (c) Exceptions; Additional Conditions. Notwithstanding the foregoing, the following shall apply: 

(i) With respect to a Development Milestone Product from the [***] or [***] for which Merck has issued an Elected Candidate
Notice pursuant to Section 2.11(d), the Milestone Payment [***]. Furthermore, if a Milestone Event is achieved that triggers a Milestone Payment set forth in Table 1 below for a given Development Milestone Product, and the preceding
Milestone Events set forth in Table 1 for such Development Milestone Product have not occurred such that the previous Milestone Payments set forth in Table 1 have not been previously paid for such Development Milestone Product (to the
extent such Milestone Payment would otherwise be payable with respect to such Development Milestone Product), then all such previous Milestone Payments shall become due and payable upon achievement of such Milestone Event for such Development
Milestone Product. 

  
 38 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) In the event that more than one Milestone Event set forth in Table
2 are achieved in the same Calendar Year with respect to a Product, Milestone Payments will be payable with respect to each such Milestone Event [***]. 

(iii) In all cases, the maximum number of times a Milestone Payment shall be payable for a given Milestone Event is [***]. 

(d) Milestones and Payments. 

Table 1: Development Milestone Payments 
  

			
	 Milestone Event
	 	 Milestone Payment

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

 Table 2: Commercialization Milestone Payments 

 

			
	 Milestone Event
	 	 Milestone Payment

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

 8.5. Royalties. 

(a) Rates. Subject to the terms and conditions of this Agreement, Merck will pay to Moderna running royalties, as set
forth in this Section 8.5, which royalties [***] shall be determined on a Product-by-Product basis and shall only be payable with respect to Net Sales occurring
during the Royalty Term, based on the total global aggregate annual Net Sales [***][***] by Selling Parties of such Product in a given Calendar Year at the following royalty rates (provided that the Royalty Term for such Product in the applicable
country has not expired): 
  

			
	 Annual Net Sales

of each Product in a Calendar Year
	 	 Royalty Rate

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

  
 39 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 [***] 

(b) Royalty Term. Royalties under Section 8.5(a) will be payable commencing with the First Commercial Sale of a
Product, on a Product-by-Product and country-by-country basis, on the Net Sales of such
Product if during any period at least one of the following [***] conditions apply (the “Royalty Term”): 

(i) if one or more Valid Claims within [***] in such Product in such country (even if such Patent is a Joint Patent); 

(ii) if such Product in such country is covered by a Regulatory Exclusivity Period; or 

(iii) for [***] from the First Commercial Sale of such Product in such country. 

(c) [***] Notwithstanding Section 8.5(b), if the Royalty Term for a particular Product in a given country is
scheduled to expire pursuant to Section 8.5(b) in a given Calendar Quarter, and during the next Calendar Quarter, [***], then the Royalty Term for such Product in such Country shall [***]. 

(d) Royalty Reduction. If a Product is royalty-bearing only on account of Section 8.5(b)(iii), then the royalty
rates set forth in Section 8.5(a) with respect to Net Sales attributable to such Product will be reduced by [***]. 

(e) Third Party Royalty Payments. If a Selling Party, [***] a license from any Third Party under any intellectual
property right [***], and if such Selling Party is required after the Effective Date to pay to such Third Party under such license [***], or if such Selling Party is required by a court of competent jurisdiction to pay amounts [***], then the amount
of Merck’s royalty obligations under this Section 8.5(a) will be reduced by [***], provided however, that the royalties payable under Section 8.5(a) will not be reduced in any such event pursuant to this Section 8.5(e) below
[***] of the amounts set forth in Section 8.5(a) [***]; provided further, however, [***]. Any royalties or other payments payable under any Moderna Collaboration In-License may not be deducted under this
Section 8.5(e) from royalties owed to Moderna. 
 (f) Compulsory Licenses. If a court or a governmental agency of
competent jurisdiction requires Merck or its Sublicensee to grant a compulsory license to a Third Party with respect to Product in any country in the Territory with a royalty rate lower than the royalty rate provided by Section 8.5(a), then the
royalty rate to be paid by Merck on Net Sales in that country under Section 8.5(a) shall be reduced [***]. 
 (g)
Additional Royalty Provisions. The royalties payable under Section 8.5(a) will be subject to the following: 

(i) only one royalty will be payable hereunder with respect to each Product unit; 

  
 40 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) royalties when owed or paid hereunder will, except as provided in
Section 8.5(e), be non-refundable and non-creditable and not subject to set-off; 

(iii) no royalties shall be due upon the sale or other transfer among Merck or its Selling Parties, but in such cases the
royalty shall be due and calculated upon Merck’s or its Selling Party’s Net Sales to the first independent Third Party; 

(iv) no royalties shall accrue on the sale or other disposition of Product by Merck or its Selling Parties for use in any
clinical trial; 
 (v) for purposes of this Section 8.5, all sales of a Product by any Selling Party for use in the
[***] field (to the extent permitted pursuant to Section 9.2) shall be counted as “Net Sales” of such Product for the purposes of calculating Net Sales, applicable royalty tiers and otherwise under this Section 8.5; 

(vi) except as expressly set forth in Sections 8.5(d), 8.5(e) and 8.5(f), no other royalty deductions are permitted hereunder;
and 
 (vii) no royalties shall accrue on the disposition or sale of Product (A) in reasonable quantities by Merck, its
Affiliates or Sublicensees as part of an expanded access program or (B) as donations (for example, to non-profit institutions or government agencies for
non-commercial purposes) or as test marketing or samples (promotion or otherwise) or (C) at no margin (including taking into account the royalties that would be payable to Moderna).  

8.6. Payment Terms. 

(a) Manner of Payment. All payments to be made by Merck hereunder will be made in U.S. dollars by wire transfer to such
bank account as Moderna may designate. 
 (b) Reports and Royalty Payments. For as long as royalties or other payments
are due under this Section 8, Merck will furnish to Moderna a written report, after the end of each Calendar Quarter, showing the amount of Net Sales and royalty due under Section 8.5(a), and any other payments accrued during such Calendar
Quarter, which report will be furnished within [***] of the end of the quarter for Net Sales generated by Merck and its Affiliates and Sublicensees. Royalty and other payments for each Calendar Quarter will be due at the same time as such written
reports for the Calendar Quarter. The reports will include, at a minimum, the following information for the applicable Calendar Quarter, each listed by country of sale and use: [***]. 

(c) Records; Audits. Merck will keep, and will cause each of the other Selling Parties, as applicable, to keep, and
Moderna will keep, adequate books and records of accounting for the purpose of calculating all royalties and other amounts payable by either Party to the other Party hereunder and ensuring each Party’s compliance hereunder. For the [***]
following the end of the Calendar Year to which each will pertain, such books and records of accounting (including those of its Affiliates, as applicable) will be kept at each of their principal place of business. At the request of either Party, the
other Party will permit (and procure its Affiliates, to permit) an independent certified public accounting firm of internationally recognized standing selected by the auditing Party and reasonably acceptable to the other Party to have access during
normal business hours to such of the records as may be reasonably necessary to verify the accuracy of the payments 

  
 41 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
due hereunder for any Calendar Year ending not more than [***] following the end of any Calendar Year. Such examinations may not be conducted more than once in any Calendar Year or be repeated
for any Calendar Year. The accounting firm shall disclose to the auditing Party only whether the reports are correct or incorrect and the amount of any discrepancy. No other Confidential Information shall be provided. If such accounting firm
correctly identifies a discrepancy made during such period, the appropriate Party shall pay the other Party the amount of the discrepancy within [***] of the date of delivery of such accounting firm’s written report so correctly concluding, or
as otherwise agreed upon by the Parties. The fees charged by such accounting firm shall be paid by the auditing Party, provided that if the underpayment or overcharge exceeds [***], the audited Party shall pay the fees. Upon the expiration of [***]
following the end of any Calendar Year, absent willful misconduct or fraud by a Party (its Affiliates, as applicable) the calculation of amounts payable with respect to such Calendar Year shall be binding and conclusive upon the Parties, and the
Parties shall be released from any liability or accountability with respect to amounts payable for such Calendar Year. The auditing Party shall treat all financial information subject to review under this Section 8.6(c) in accordance with the
confidentiality and non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with the audited Party obligating it to retain all such
Confidential Information in confidence pursuant to such confidentiality agreement. 
 (d) Taxes. Subject to
Section 8.1, Merck may deduct or withhold from any payments due to Moderna amounts for payment of any withholding Tax that is required by Law to be paid to any Tax Authority with respect to such payments. To the extent that any such amounts are
so deducted or withheld, such amounts will be treated for all purposes of this Agreement as having been paid to Moderna. Merck will give written notice of its intent to withhold any amounts under this Section 8.6(d) at least [***] days in
advance of any payment being made. Merck will give proper evidence from time to time as to the payment of any such Tax. Moderna will provide Merck all necessary documents and correspondence, and will also use commercially reasonable efforts to
provide to Merck any other cooperation or assistance on a reasonable basis as may be necessary to enable Merck to claim exemption from such deduction or withholding Taxes. The Parties will reasonably cooperate with each other in seeking relief or
reduction in the deduction or withholding of any Tax under any double Taxation or other similar treaty or agreement from time to time in force and in seeking to receive a refund of any withholding Tax or to claim a foreign Tax credit. 

(e) Currency Exchange. With respect to Net Sales invoiced in U.S. dollars, the Net Sales and the amounts due to Moderna
hereunder will be expressed in U.S. dollars. In the case of sales outside the United States, the rate of exchange to be used in computing the monthly amount of currency equivalent in United States Dollars due Moderna shall be made at the monthly
rate of exchange utilized by Merck in its worldwide accounting system. For purposes of calculating the Net Sales thresholds set forth in Sections 8.4(d) and 8.5(a), the aggregate Net Sales with respect to each Calendar Quarter within a Calendar Year
will be calculated based on the currency exchange rates for the Calendar Quarter in which such Net Sales occurred, in a manner consistent with the exchange rate procedures set forth in the immediately preceding sentence. 

(f) Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal
for Merck (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed Moderna hereunder, Merck will promptly notify 

  
 42 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Moderna of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of Moderna in a recognized banking institution
designated by Moderna or, if none is designated by Moderna within a period of [***] days, in a recognized banking institution selected by Merck or another Selling Party, as the case may be, and identified in a written notice given to Moderna. 

(g) Interest Due. If any payment due to either Party under this Agreement is overdue (and is not subject to a good faith
dispute), then such paying Party will pay interest thereon [***] at an annual rate [***] after payment of such sum became due until payment thereof in full together with such interest. 

(h) Mutual Convenience of the Parties. The royalty and other payment obligations set forth hereunder have been agreed to
by the Parties for the purpose of reflecting and advancing their mutual convenience, including the ease of calculating and paying royalties and other amounts to Moderna. 

(i) Other Expenses. Except as expressly set forth herein or in any Supply Agreement, each Party will be solely
responsible for costs and expenses incurred by such Party in connection with the activities contemplated by this Agreement. 
 9.
Licenses. 
 9.1. Grants to Merck. 

(a) Development & Commercialization Licenses. Subject to the terms of this Agreement, including
Section 9.1(b), Moderna, on behalf of itself and its Affiliates, hereby grants to Merck a royalty-bearing, worldwide, exclusive license in the Applicable Field, with the right to grant sublicenses in compliance with Section 9.4, under the
Moderna Technology: 
 (i) On an R&D
Program-by-R&D Program basis, to Develop Collaboration mRNA Constructs, under and in accordance with the applicable R&D Plan during the R&D Term; 

(ii) To Develop [***] Collaboration mRNA Constructs in a Product Candidate Pool or in an Elected Candidate or Product; 

(iii) To Develop Product Candidates, Elected Candidates and Products (including the Collaboration mRNA Constructs as they are
included therein); 
 (iv) To Commercialize and otherwise Exploit Elected Candidates and Products (including the
Collaboration mRNA Constructs as they are included therein); and 
 (v) Subject to Article 4 (including Exhibit A), to
Manufacture Collaboration mRNA Constructs, Product Candidates, Elected Candidates and Products. 
 (b) [***] 

  
 43 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (c) Retained Rights; Limitations. Notwithstanding the exclusive
licenses set forth in Section 9.1(a), Moderna retains rights under the Moderna Technology to perform and to have performed its obligations under this Agreement and any Supply Agreement. 

9.2. [***] 

9.3. Development License by Merck. Subject to the terms and conditions of this Agreement, Merck hereby grants to Moderna
a non-exclusive, worldwide license, with the right to grant sublicenses to permitted subcontractors pursuant to Section 2.12 only, under the Merck Background Technology and Merck Collaboration Technology,
solely to perform the Collaboration Activities in accordance with the terms of this Agreement and the applicable R&D Plan provided that the grant of any such sublicense shall not relieve Moderna of its obligations under this Agreement, and
Moderna will be responsible for ensuring the performance and compliance by such sublicensee with the terms this Agreement as if such sublicensee were “Moderna”, in each case, to the extent applicable to such sublicensee. 

9.4. Sublicensing. 

(a) Merck Sublicensing. Merck may grant sublicenses under any of the licenses granted to Merck by Moderna under
Section 9.1, without Moderna’s consent, to (x) one or more Affiliates (with the right to sublicense through multiple tiers), (y) to one or more Third Party subcontractors (in accordance with Section 2.12) of Merck (or its
Affiliate) and/or (z) with respect to an Elected Candidate or Product to one or more Third Parties (with the right to sublicense through multiple tiers), provided that the grant of any such sublicense to an Affiliate or Third Party shall not
relieve Merck of its obligations under this Agreement, and Merck will be responsible for ensuring the performance and compliance by such Affiliate or Third Party with the terms this Agreement and any Moderna Collaboration In-License as if such Affiliate or Third Party were “Merck”, in each case, to the extent applicable to such Sublicensee, and provided further that, as a condition precedent to and requirement of any such
sublicense to a Third Party under the foregoing clause (z): 
 (i) such sublicense is set forth in a written agreement; 

(ii) Merck will provide Moderna with a copy of any such sublicense agreement and each material amendment thereto within [***]
days of execution thereof, which may be redacted as necessary to protect confidential information and other commercially sensitive information; and 

(iii) such sublicense agreement shall be consistent with and subject to the applicable terms and conditions of this Agreement.

 9.5. Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of
this Agreement, are, and will be deemed to be for all purposes of Section 365(n) of Title 11 of the United States Code and of any similar provisions of applicable Laws under any other jurisdiction (the “Bankruptcy Code”),
rights and licenses to “intellectual property” (as defined in Section 101(35A) of the Bankruptcy Code). Each Party agrees that the other Party, as a licensee of rights and licenses under this Agreement, will retain and may fully
exercise all of its rights and elections under the Bankruptcy Code. The Parties further agree that, in the event of 

  
 44 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
the commencement of a bankruptcy proceeding by or against a Party under the Bankruptcy Code or analogous provisions of applicable Law outside the U.S., the other Party will be entitled to a
complete duplicate of, or complete access to (as appropriate), any intellectual property licensed to such other Party held by such first Party and its successors and assigns (including all embodiments thereof), which, if not already in such other
Party’s possession, will be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon such other Party’s written request therefor, unless such first Party elects to continue to perform all of its
obligations under this Agreement, or (b) if not delivered under clause (a), following the rejection of this Agreement by such first Party in the bankruptcy proceeding upon written request therefor by such other Party. 

9.6. No Grant of Inconsistent Rights by Moderna. Moderna (and its Affiliates) shall not assign, transfer, convey or
otherwise grant to any Person or otherwise encumber (including through lien, charge, security interest, mortgage, encumbrance or otherwise, but excluding liens in connection with financings) (a) any rights to any Moderna Technology (or any
rights to any intellectual property that would otherwise be included in the Moderna Technology), in any manner that is inconsistent with or would interfere with the grant of the rights or licenses to Merck hereunder, or (b) any rights to any
Collaboration mRNA Constructs, Product Candidates, Elected Candidates or Products (provided that Moderna shall grant to Merck the rights to the Collaboration mRNA Constructs, Product Candidates, Elected Candidates or Products as set forth herein),
other than with respect to the right to receive royalty payments on the Net Sales of Products. 
 10. Ownership of Technology and
Materials. 
 10.1. Disclosure. Each Party will promptly disclose to the other Party in writing, and will
cause its Affiliates and subcontractors to so disclose, the conception, creation or discovery of any inventions within the Collaboration Know-How. 

10.2. Ownership of Certain Moderna Technology. Subject to the license grants to Merck under this Agreement, as
between the Parties, Moderna will own and retain all right, title and interest in and to all [***], conceived, created or discovered during the performance of Collaboration Activities. Accordingly, Merck will promptly disclose to Moderna in writing,
the conception, creation, or the discovery, of any [***] by or on behalf of Merck or its Affiliates. Merck, for itself and on behalf of its Affiliates, hereby assigns (and to the extent such assignment can only be made in the future hereby agrees to
assign), to Moderna all its right, title and interest in and to any [***] conceived, created or discovered during the performance of Collaboration Activities. Merck will cooperate, and will cause the foregoing persons and entities to cooperate, with
Moderna to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

10.3. [***] License. To the extent that Merck solely conceives, creates or discovers any Moderna Collaboration Platform
Technology or Moderna Formulation Technology that is assigned to Moderna pursuant to Section 10.2, Moderna hereby grants to Merck [***], worldwide license under [***] to research, develop, manufacture, use, commercialize, offer for sale, sell,
distribute, import or export [***]. 

  
 45 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 10.4. Ownership of [***]. Subject to the license grants to
Moderna under this Agreement, as between the Parties, Merck will own and retain all right, title and interest in and to all [***]. Accordingly, Moderna will promptly disclose to Merck in writing, the conception, creation or discovery of any [***] by
or on behalf of Moderna or its Affiliates. Moderna, for itself and on behalf of its Affiliates, hereby assigns (and to the extent such assignment can only be made in the future hereby agrees to assign), to Merck all its right, title and interest in
and to any [***] conceived, created or discovered during the course of performing Collaboration Activities. Moderna will cooperate, and will cause the foregoing persons and entities to cooperate, with Merck to effectuate and perfect the foregoing
ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. To the extent that Moderna conceives, creates or discovers any [***] (solely or jointly with Merck) that is assigned to Merck
pursuant to this Section 10.4, Merck hereby grants to Moderna a non-exclusive, royalty free and fully paid-up, sublicensable, worldwide license under such assigned
[***], subject to Section 11, to research, develop, manufacture, use, commercialize, offer for sale, sell, distribute, import or export any product (or component thereof)  

10.5. Ownership of Other Technology. Except as set forth in Section 10.2 and Section 10.4, and subject to the
license grants by one Party to the other under this Agreement, all Know-How and Patents conceived, created or discovered, by or on behalf of either Party or its Affiliates either alone or jointly with Third
Party(ies), or by the Parties or their Affiliates jointly under or in connection with the this Agreement, whether or not conceived, created or discovered at a facility owned or controlled by such Party and whether or not patented or patentable, and
any and all Patent and other intellectual property rights with respect thereto will be owned in accordance with inventorship and in accordance with applicable Law in the United States. 

10.6. United States Law. The determination of whether Know-How and Patents are
conceived, created or discovered by a Party for the purpose of allocating proprietary rights (including Patent, copyright or other intellectual property rights) therein, will, for purposes of this Agreement, be made in accordance with applicable Law
in the United States. In the event that United States Law does not apply to the conception, creation or discovery of any Know-How or Patents hereunder, each Party will, and does hereby, assign, and will cause
its Affiliates to so assign, to the other Party, without additional compensation, such right, title and interest in and to any Know-How and Patents as well as any intellectual property rights with respect
thereto, as is necessary to fully effect ownership as would have been determined under U.S. Law. 
 10.7. Exploitation of
Joint Technology. Subject to Section 10.2 and Section 10.4 and to the license grants in this Agreement, the Parties will each own an equal, undivided interest in any and all Joint Technology. Each Party will exercise its
ownership rights in and to such Joint Technology, including the right to license and sublicense or otherwise to Exploit, transfer or encumber its ownership interest, without an accounting or obligation to, or consent required from, the other Party,
but subject to Section 11 and the license grants under this Agreement. At the reasonable written request of a Party, the other Party will in writing grant such consents and confirm that no such accounting is required to effect the foregoing
regarding Joint Technology. Each Party will, and does hereby, assign, and will cause its Affiliates and subcontractors to so assign, to the other Party, without additional compensation, such right, title and interest in and to any Joint Technology
as well as any intellectual property rights with respect thereto, as is necessary to fully effect the joint ownership provided for in the first sentence of this Section 10.7. 

  
 46 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 10.8. No Implied Rights. No license, sublicense or other right is or
will be created or granted hereunder by implication, estoppel or otherwise. Any licenses, sublicenses or rights will be granted only as expressly provided in this Agreement. Neither Party nor any of its Affiliates will use or practice any Know-How or Patents licensed or provided to such Party or any of its Affiliates outside the scope of or otherwise not in compliance with the rights and licenses granted to such Party and its Affiliates under this
Agreement. 
 11. Exclusivity. 

11.1. Target Exclusivity. 

(a) R&D Term. During the R&D Term, Moderna will not, [***]. 

(b) After R&D Term. From and after the end of the R&D Term, Moderna will not, [***]. 

11.2. Collaboration mRNA Construct, Product Candidate, Elected Candidate and Product Exclusivity. Moderna
will not, [***]. 
 11.3. Collaboration Field Exclusivity. 

(a) R&D Term. Subject to [***], during the R&D Term, Moderna will not, and will cause each of its Affiliates not
to, either itself, or together with any Third Party, [***]. 
 (b) Non-Restricted
Activities. Notwithstanding anything in Section 11.3(a) to the contrary, the provisions of Section 11.3(a) do not restrict Moderna or its Affiliates or licensees from: 

(i) performing Moderna’s obligations pursuant to this Agreement or any Supply Agreement; 

(ii) [***]; 

(iii) conducting such assays or other research as reasonably necessary to maintain compliance with Section 11.3(a); 

(iv) granting the rights and licenses set forth in, and performing obligations under, any Existing Partner Agreement regarding
[***] but in all cases subject to the other provisions of this Section 11; [***]; 
 (v) granting any Third Party [***]

 (vi) [***] 

11.4. [***] 

(a) [***] 

(b) [***] 

  
 47 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (i) [***] 

(ii) [***] 

(iii) [***] 

(iv) [***] 

(v) [***] 

(vi) [***] 

(vii) [***] 

(viii) [***] 

11.5. [***] 

(a) [***] 

(b) [***] 

(c) [***] 

11.6. [***] 

11.7. [***]. 

(a) [***] 

(b) [***] 

(c) [***] 

11.8. Exception for Business Combination. 

(a) Notwithstanding Sections [***], if (a) a Business Combination occurs with respect to Moderna or its Affiliate with a
Third Party or (b) Moderna or its Affiliate acquires a Third Party (by merger, consolidation or otherwise) so that such Third Party becomes an Affiliate over which Moderna or its Affiliate has control (as defined in Section 1.4), or
(c) Moderna or its Affiliate acquires all or substantially all of the assets of a Third Party (including any subsidiaries or divisions thereof) (each of (a), (b) and (c), a “Moderna Acquisition”), and, in each case, the Third
Party (or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Moderna and its Affiliates as of the Moderna Acquisition) already has, or the acquired assets
contain, as applicable, a program that existed prior to, or was substantially in the process of being implemented prior to such Moderna Acquisition and is in fact implemented shortly after such Moderna Acquisition, the Moderna Acquisition that would
otherwise violate any of Sections [***] (a “Moderna Business Program”), then [***]; provided that [***]. 

  
 48 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) In addition, in the event a Business Combination occurs with respect
Moderna or an Affiliate that does work hereunder or is in possession of Merck’s Confidential Information (including [***]), with a Third Party, then with respect to such acquiring Third Party (or any Affiliates of such acquiring Third Party
prior to the consummation of Business Combination (collectively with such acquiring Third Party, a “Third Party Acquiror”), but excluding, for clarity, Moderna and the Moderna Affiliates prior to the consummation of such Business
Combination) and after such Business Combination such Third Party Acquiror initiates a program that was not substantially in the process of being implemented prior to such Business Combination (each, a “New Program”): 

(i) the provisions of [***] shall not apply to such Third Party Acquiror with respect to such New Program provided that [***]

 (ii) the provisions of [***] shall not apply to such Third Party Acquiror with respect to such New Program provided that
[***]. 
 (c) In addition to the other provisions of this Section 11.8, Merck shall have the right to [***]. 

11.9. Merck Exclusivity.  

(a) R&D Term. During the R&D Term, Merck will not, and will cause each of its Affiliates not to, either itself,
or together with any Third Party, [***]. 
 (b) Post R&D Period. [***], during the
Post-R&D Period, Merck will not, [***]. 
 (c) Notwithstanding
Section 11.9(a) and Section 11.9(b), if (a) a Business Combination occurs with respect to Merck or its Affiliate with a Third Party or (b) Merck or its Affiliate acquires a Third Party (by merger, consolidation or otherwise) so
that such Third Party becomes an Affiliate over which Merck or its Affiliate has control (as defined in Section 1.4), or (c) Merck or its Affiliate acquires all or substantially all of the assets of a Third Party (including any
subsidiaries or divisions thereof) (each of (a), (b) and (c), a “Merck Acquisition”), and, in each case, the Third Party (or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third
Party’s Affiliates, other than Merck and its Affiliates as of the Merck Acquisition) already has, or the acquired assets contain, as applicable, a program that existed prior to, or was planned prior to and is demonstrably to be implemented
shortly after, the Merck Acquisition that would otherwise violate Section 11.9(a) or Section 11.9(b) (a “Merck Business Program”), then [***]; provided that [***]. 

12. Confidentiality. 

12.1. Confidential Information. 

(a) Confidential Information. Each Party (“Disclosing Party”) may have disclosed or will disclose to
the other Party (“Receiving Party”), and Receiving Party may acquire during the course and conduct of activities under this Agreement, certain proprietary or confidential information of Disclosing Party. The term
“Confidential Information” means (i) all proprietary tangible samples of, and confidential information about, Materials and (ii) all confidential ideas 

  
 49 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
and information of any kind, whether in written, oral, graphical, machine-readable or other form, whether or not marked as confidential or proprietary, which are transferred, disclosed or made
available to Receiving Party by Disclosing Party or at the request of Receiving Party. Without limiting the foregoing, all confidential information about (1) [***], (2) [***], and (3) Joint Technology will be treated as Confidential
Information of both Parties. 
 (b) Restrictions. During the Term and for [***] thereafter, Receiving Party will, and
will cause its Affiliates and their respective officers, directors, employees and agents to, keep all Disclosing Party’s Confidential Information in confidence with the same degree of care with which Receiving Party holds its own confidential
information (though no less than reasonable care). Receiving Party will not use, and will cause its Affiliates and their respective officers, directors, employees and agents not to use, Disclosing Party’s Confidential Information except for in
connection with the performance of its obligations and exercise of its rights under this Agreement. Receiving Party has the right to disclose Disclosing Party’s Confidential Information without Disclosing Party’s prior written consent
(such consent not to be unreasonably withheld, delayed or conditioned), to the extent and only to the extent reasonably necessary or useful, to Receiving Party’s Affiliates and their employees, subcontractors, Sublicensees, consultants or
agents who have a need to know such Confidential Information in order to perform its obligations and exercise its rights under this Agreement and who are required to comply with restrictions on use and disclosure similarly restrictive as those in
this Section 12.1(b). Receiving Party will use [***] to cause those entities and persons to comply with such restrictions on use and disclosure. Notwithstanding the foregoing sentence, Receiving Party assumes responsibility for those entities
and persons maintaining Disclosing Party’s Confidential Information in confidence and using same only for the purposes described herein. 

(c) Exceptions. Receiving Party’s obligation of nondisclosure and the limitations upon the right to use the
Disclosing Party’s Confidential Information set forth in Section 12.1(b) will not apply to the extent that Receiving Party can demonstrate that the Disclosing Party’s Confidential Information: (i) was known to Receiving Party or
any of its Affiliates prior to the time of disclosure; (ii) is or becomes public knowledge through no fault or omission of Receiving Party or any of its Affiliates; (iii) is obtained by Receiving Party or any of its Affiliates from a Third
Party under no obligation of confidentiality to Disclosing Party; or (iv) has been independently developed by employees, subcontractors, consultants or agents of Receiving Party or any of its Affiliates without the aid, application or use of
Disclosing Party’s Confidential Information, as evidenced by contemporaneous written records. Notwithstanding the foregoing, (A) any Confidential Information will not be deemed to be within the foregoing exceptions merely because such
information is embraced by more general information in the public domain or in the possession of the Receiving Party or any of its Affiliates, and (B) any combination of features will not be deemed to be within the foregoing exceptions merely
because individual features are in the public domain or in the possession of the Receiving Party or any of its Affiliates, but only if the combination itself and its principle of operation are in the public domain or in the possession of the
Receiving Party or any of its Affiliates. 

  
 50 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Permitted Disclosures. Receiving Party may disclose Disclosing
Party’s Confidential Information to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 

(i) in order to comply with applicable Law or with a legal or administrative proceeding; 

(ii) in connection with (a) prosecuting or defending litigation or for Prosecuting or (b) the Prosecution and
Maintenance of Patents in accordance with this Agreement; 
 (iii) in connection with exercising any rights or other licenses
under this Agreement, including with respect to any Joint Technology; 
 (iv) in the case of Merck to [***]; and 

(v) in the case of Moderna, to [***]. 

In the case of a disclosure pursuant to (A) Sections [***], where reasonably possible, Receiving Party will notify Disclosing Party of
Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as [***], and (B) with respect to Sections [***], each of those named people and entities are required to comply with
restrictions on use and disclosure [***]. 
 12.2. Publications. The Parties may desire to publish in scientific
journals and present at scientific conferences the results of the Collaboration Activities, subject to the following process. Notwithstanding anything to the contrary herein, either Party may propose publication of the results of the Collaboration
Activities following scientific review by the JSC (if in force); provided, that no such publication will be made without written approval by Moderna and Merck. After receipt of the proposed publication by both Merck and Moderna, such written
approval or disapproval will be provided within [***] days. Both Parties understand that a reasonable commercial strategy may require delay of publication of information or filing of Patent applications, therefore the Parties agree to review and
consider delay of publication and filing of patent applications under certain circumstances for a reasonably limited period of. Once publications have been reviewed by each Party and have been approved for publication, the same
publications do not have to be provided again to the other Party for review for a later submission for publication. Expedited reviews for abstracts or poster presentations may be arranged if mutually agreeable to the Parties. Each Party will
acknowledge the other Party’s technical, non-financial contributions in any such publication. Notwithstanding the foregoing, Merck shall have the sole right to publish with respect to Elected Candidates
and Products, provided any such publication does not include any Confidential Information of Moderna. 
 12.3. Terms of
this Agreement; Publicity. 
 (a) Restrictions. The Parties agree that the terms of this Agreement will be treated
as Confidential Information of both Parties, and thus may be disclosed only as permitted by Section 12.1(d). Each Party will also be permitted to disclose the terms of this Agreement and any Supply Agreement (including the exhibits hereto and
thereto), in each case under appropriate confidentiality provisions, on a need to know basis, to a Party’s (and its Affiliates’) existing investors and unit holders and to any [***], provided that (1) the disclosing Party
agrees to redact information that it reasonably believes is not relevant to the proposed transaction, and (2) [***]. Except as required by Law, each Party agrees not to issue any press release or public statement disclosing information relating
to this Agreement, the transactions contemplated hereby or any of the terms hereof without the prior written consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), or as such consent may be obtained in
accordance with Section 12.3(c), or as permitted by Section 12.3(d). 

  
 51 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Securities Filings; Law. Each Party acknowledges and agrees
that the other Party may submit this Agreement (including for clarity, the Exhibits and Schedules hereto) to the United States Securities and Exchange Commission (the “SEC”) or any other securities exchange and if a Party does
submit this Agreement to the SEC or any other securities exchange, such Party agrees to consult with the other Party with respect to the preparation and submission of, a confidential treatment request for this Agreement. If a Party is required by
Law to make a disclosure of the terms of this Agreement in a filing with or other submission to the SEC or any other securities exchange or otherwise to comply with Law, and (i) such Party has provided copies of the disclosure to the other
Party as far in advance of such filing or other disclosure as is reasonably practicable under the circumstances, (ii) such Party has promptly notified the other Party in writing of such requirement and any respective timing constraints, and
(iii) such Party has given the other Party a reasonable time under the circumstances from the date of notice by such Party of the required disclosure to comment upon, request confidential treatment or approve such disclosure, then such Party
will have the right to make such public disclosure at the time and in the manner reasonably determined by its counsel to be required by Law. [***] 

(c) Press Releases. Neither Party may issue any press release or make any other public announcement or statement
concerning this Agreement, the transactions contemplated hereby or the terms hereof, without the prior written approval of the other Party, except as may be required by applicable Law. In the event either Party (the “Issuing Party”)
desires to issue a press release or other public statement disclosing information relating to this Agreement, the transactions contemplated hereby or the terms hereof, the Issuing Party will provide the other Party (the “Reviewing
Party”) with a copy of the proposed press release or public statement (the “Release”) and seek the Reviewing Party’s prior written consent. The Issuing Party will specify with each such Release, taking into account the
urgency of the matter being disclosed, a reasonable period of time within which the Receiving Party may provide any comments on such Release and if the Receiving Party fails to provide any comments during the response period called for by the
Issuing Party, the Reviewing Party will be deemed to have not consented to the issuance of such Release. If the Receiving Party provides any comments, the Parties will consult on such Release and work in good faith to prepare a mutually acceptable
Release. Either Party may subsequently publicly disclose any information previously contained in any Release so consented to. 

(d) Joint Press Release. The Parties agree to issue the joint press release in Exhibit H
promptly following the Effective Date. 
 12.4. Relationship to the Confidentiality Agreement. This Agreement
supersedes the Confidentiality Agreement; provided, that all “Confidential Information” disclosed or received by the Parties thereunder will be deemed “Confidential Information” hereunder and will be subject to the terms
and conditions of this Agreement. 

  
 52 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 13. Patent Prosecution, Maintenance and Enforcement. 

13.1. Prosecution and Maintenance. 

(a) Moderna [***] Patents. 

(i) Subject to [***], Moderna will have the sole right, but not the obligation, using counsel of its choosing, to Prosecute and
Maintain all Moderna [***] Patents throughout the Territory. 
 (ii) Moderna will be solely responsible for the Patent Costs
incurred by Moderna in connection with this Section 13.1(a). 
 (b) Moderna [***] Patents and Moderna [***]
Patents. 
 (i) [***] 

(ii) [***] 

(iii) [***] 

(c) Moderna [***] Patents and Moderna [***] Patents. 

(i) [***] 

(ii) [***] 

(iii) [***] 

(d) Moderna [***] Patents. 

(i) [***] 

(ii) [***] 

(iii) [***] 

(e) Cooperation. The non-prosecuting Party will, and will cause its Affiliates
to, reasonably assist and cooperate with the prosecuting Party in connection with Prosecuting and Maintaining under this Section 13.1. 

13.2. Patent Extensions. With respect to any election for patent term restoration or extension, supplemental protection
certificate or any of their equivalents, (a) Merck will have the sole right to make any such decision relating to the [***]; and (b) Moderna will have the right to make any such decision relating to the Moderna [***] Patents and Moderna
[***] Patents. Upon the request by a Party, such other Party through will reasonably cooperate in the implementation of such requesting Party’s decisions under this Section 13.2. 

  
 53 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 13.3. Patent Listings. With respect to any filings made to Regulatory
Authorities with respect to the Moderna Patents for any Elected Candidate or Product, including as required or allowed in connection with in the United States, the FDA’s Orange Book, if applicable, or outside the United States, other
international equivalents, Merck will have the sole right to make all decisions regarding such filings as Merck deems appropriate. Upon the request by Merck, Moderna will reasonably cooperate in the implementation of Merck’s decisions regarding
the filing and listing pursuant to this Section 13.3. 
 13.4. Joint Patents. With respect to any Joint Patents
included in the [***] or Moderna [***] Patents, the provisions of Sections [***] shall apply to the Prosecution and Maintenance of such Joint Patents to the extent such Joint Patent is included as either a Moderna [***] Patent or Moderna
[***]Patents, as applicable. With respect to all other Joint Patents, the Parties shall mutually agree upon the responsibility for the Prosecution and Maintenance of such Joint Patents and the Patent Costs therefor. 

13.5. Third Party Rights. Notwithstanding the foregoing provisions of this Section 13, each Party’s rights and
obligations under this Section 13 with respect to any Moderna [***] Patent or Moderna [***] Patent licensed to Moderna or its Affiliate pursuant to a Moderna Collaboration In-License will be subject to
the Third Party rights and obligations under such Moderna Collaboration In-License [***]; provided, however, that, to the extent that Moderna has [***]. 

13.6. [***] 

13.7. Patent Enforcement and Defense. 

(a) Notice. Each Party will promptly notify the other Party, in writing, upon learning of any actual or suspected
Competitive Infringement of [***] by a Third Party, [***], and will, along with such notice, provide any evidence in its possession pertaining thereto. 

(b) [***] and Competitive Infringement. 

(i) As between the Parties, [***]. 

(ii) [***] 

(c) Defense. As between the Parties, [***]. 

(d) Withdrawal, Cooperation and Participation. With respect to any infringement or defensive action identified above in
this Section 13.7. 
 (i) If the controlling Party ceases to pursue or withdraws from such action, it will promptly
notify the other Party (in sufficient time to enable the other Party to meet any deadlines by which any action must be taken to preserve any rights in such infringement or defensive action) and such other Party may substitute itself for the
withdrawing Party and proceed under the terms and conditions of this Section 13.7. 
 (ii) The non-controlling Party will cooperate with the Party controlling any such action (as may be reasonably requested by the controlling Party), including [***]. The Party controlling any such action will keep the non-controlling Party updated with respect to any such action, including providing copies of all documents received or filed in connection with any such action. 

  
 54 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) Each Party will have the right to participate or otherwise be involved
in any such action controlled by the other Party, in each case at the non-controlling Party’s sole cost and expense. If a Party elects to so participate or be involved, the controlling Party will provide
the non-controlling Party and its counsel with an opportunity to consult with the controlling Party and its counsel regarding the prosecution of such action (including reviewing the contents of any
correspondence, legal papers or other documents related thereto), and the controlling Party will take into account reasonable requests of the non-controlling Party regarding such enforcement or defense. 

(iv) Damages. Unless otherwise agreed by the Parties, all monies recovered upon the final judgment or settlement of any
action described in [***] will be [***]. 
 (v) Third Party Rights. To the extent that a Third Party licensor under a
Moderna Collaboration In-License has retained any right to [***], Moderna will use Commercially Reasonable Efforts to cause such Third Party licensor to take the actions specified by this Section 13.7 in
a manner consistent with the Moderna Collaboration In-License applicable thereto, but Moderna will not be deemed to be in breach of its obligations under this Section 13.7 if, after using such
Commercially Reasonable Efforts, it is unable to comply with such obligations because of actions taken or not taken by such Third Party licensor. 

14. Representations and Warranties; Limitations of Liability; Indemnification; Covenants. 

14.1. Representations and Warranties of Each Party. Each Party represents and warrants to the other as of the Effective
Date that: 
 (a) Such Party is duly organized, validly existing and in good standing under the laws of the jurisdiction in
which it is organized. 
 (b) Such Party (i) has the legal right and power to enter into this Agreement, to extend the
rights granted or to be granted to the other in this Agreement, and to fully perform its obligations hereunder, including to grant the licenses set forth herein, and (ii) has taken all requisite action on its part to authorize the execution and
delivery of this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid and binding obligation, enforceable against such Party in
accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization or other laws affecting creditors’ rights generally and by general equitable principles. 

(c) Neither such Party nor its Affiliates has been debarred or is subject to debarment. Neither it nor its Affiliates will use
in any capacity, in connection with the services to be performed under this Agreement, any person who has been debarred pursuant to Section 306 of the FFDCA, or who is the subject of a conviction described in such section. In addition, neither
it nor its Affiliates has used in any capacity, in connection with any Development activities with respect to 

  
 55 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
the mRNA Technology, mRNA Construct or any Polypeptide included hereunder carried out prior to the Effective Date, any person who has been debarred or was the subject of a conviction described in
Section 306. Such Party agrees to inform the other Party in writing immediately if it or any person who is performing services under this Agreement is debarred or is the subject of a conviction described in Section 306, or if any action,
suit, claim, investigation or legal or administrative proceeding is pending or, to the best of such Party’s or its Affiliates’ Knowledge, is threatened, relating to the debarment or conviction of such Party or any person performing
services under this Agreement, or if such Party becomes aware that it or any person performing Development activities with respect to an mRNA Construct, Polypeptide, Product Candidate, Elected Candidate or Product included hereunder carried out
prior to the Effective Date was debarred or was the subject of a conviction described in Section 306. 
 (d) All
necessary consents, approvals and authorizations of all governmental authorities and other Persons required to be obtained by such Party to enter into, or perform its obligations under, this Agreement have been obtained. 

(e) The execution and delivery of this Agreement and the performance of such Party’s obligations hereunder (i) will
not conflict with or violate any requirement of applicable Law or orders of governmental bodies, (ii) do not conflict with, or constitute a default under, any contractual obligation of such Party and (iii) do not conflict with or violate
any provision of the corporate charter, by-laws or other organizational documents of such Party. 

14.2. Additional Representations of Moderna. Moderna represents and warrants to Merck that as of the Effective Date:

 (a) there are no [***] and to Moderna’s Knowledge, no [***] relating to the Moderna Patents and/or Moderna Know-How; 
 (b) Schedule 1.123 sets forth a true, correct and complete list of
Moderna Patents and such schedule contains all application numbers and filing dates, registration numbers and dates, jurisdictions and owners. [***] 

(c) to Moderna’s Knowledge (i) all Patents within the Moderna Patents have been procured or are being procured from
the respective patent offices in accordance with applicable Law, and (ii) the issued Patents within the Moderna Patents are [***]; 

(d) it (and its Affiliates) has not prior to the Effective Date (i) assigned, transferred or conveyed its right, title
and/or interest in Moderna Patents or Moderna Know-How, or (ii) otherwise granted any rights to any Third Parties that would, in the case of clauses (i) and/or (ii), conflict with the rights granted
to Merck hereunder, and, to Moderna’s Knowledge, there is no unauthorized use, infringement or misappropriation of any Moderna Patent or Moderna Know-How; 

(e) it or its Affiliate is the sole and exclusive owner of the [***] which are as at the Effective Date free and clear of any
liens, charges and encumbrances (excluding those entered into the ordinary course of financing its business), and no other Person has as at the Effective Date any claim of ownership whatsoever with respect to the [***]; 

  
 56 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (f) [***] 

(g) [***] 

(h) [***] 

(i) neither Moderna nor any of its Affiliates has obtained, or filed for, any INDs, NDAs or Regulatory Approval for any mRNA
Constructs or mRNA Products in [***]; 
 (j) all Development related to the [***] prior to the Effective Date has been
conducted in accordance with all applicable Laws; 
 (k) [***] 

(l) [***] 

(m) [***] 

14.3. Disclaimers. Without limiting the respective rights and obligations of the Parties expressly set forth herein,
each Party specifically disclaims any guarantee that the Collaboration Activities or any Product Candidate will be successful, in whole or in part. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, THE PARTIES MAKE NO REPRESENTATIONS AND
EXTEND NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED (AND EACH PARTY HEREBY EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES NOT EXPRESSLY PROVIDED IN THIS AGREEMENT), INCLUDING WITH RESPECT TO ANY PATENTS OR KNOW-HOW, MRNA CONSTRUCTS, PRODUCT CANDIDATES, MATERIALS, OR MRNA PRODUCTS, INCLUDING WARRANTIES OF VALIDITY OR ENFORCEABILITY OF ANY PATENTS, TITLE, QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR
PURPOSE, PERFORMANCE, AND NONINFRINGEMENT OF ANY THIRD PARTY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. 
 14.4. No
Consequential Damages. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT, EXCEPT FOR DAMAGES DUE TO THE FRAUD OR WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE LIABLE PARTY, NEITHER PARTY WILL BE LIABLE TO THE OTHER OR ANY THIRD PARTY WITH
RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN INFORMED OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, THAT THIS SECTION 14.4 WILL
NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER SECTION 14.5. 
 14.5. Indemnification.

 (a) Indemnification by Merck. Merck will indemnify Moderna, its Affiliates and their respective directors,
officers, employees and agents, and their respective successors, heirs and assigns (collectively, “Moderna Indemnitees”), and defend and save each of them harmless, from and against any and all losses, damages, liabilities, costs
and expenses (including reasonable 

  
 57 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
attorneys’ fees and expenses) (collectively, “Losses”) in connection with any and all suits, investigations, claims or demands of Third Parties (collectively, “Third
Party Claims”) arising from or occurring as a result of: [***], except in each case for those Losses and Third Party Claims for which Moderna has an obligation to indemnify Merck pursuant to Section 14.5(b) (or would have had such
Third Party Claim been made against Merck under this Agreement), as to which Losses each Party will indemnify the other to the extent of their respective liability; provided, that Merck will not be obligated to indemnify Moderna Indemnitees
for any Losses or Third Party Claims to the extent that such Losses or Third Party Claims arise as a result of gross negligence or willful misconduct on the part of a Moderna Indemnitee or breach of this Agreement by Moderna. 

(b) Indemnification by Moderna. Moderna will indemnify Merck, its Affiliates and their respective directors, officers,
employees and agents, and their respective successors, heirs and assigns (collectively, “Merck 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 arising from or occurring as a result of: [***], and except in each case for those Losses and Third Party Claims for which Merck has an obligation to indemnify Moderna pursuant to Section 14.5(a)(i) or 14.5(a)(ii) (or would have had such
Third Party Claim been made against Moderna under this Agreement), as to which Losses each Party will indemnify the other to the extent of their respective liability for the Losses; provided, that Moderna will not be obligated to indemnify
Merck Indemnitees for any Losses or Third Party Claims to the extent that such Losses or Third Party Claims arise as a result of gross negligence or willful misconduct on the part of an Merck Indemnitee or breach of this Agreement by Merck. 

(c) Notice of Claim. All indemnification claims provided for in Section 14.5(a) and 14.5(b) will be made solely by
such Party to this Agreement (the “Indemnified Party”). The Indemnified Party will promptly notify the indemnifying Party (an “Indemnification Claim Notice”) of any Losses or the discovery of any fact upon which the
Indemnified Party intends to base a request for indemnification under Section 14.5(a) or 14.5(b), but in no event will 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 estimated amount of such Loss (to the extent that the nature and amount of such Loss is known at such time). The Indemnified Party will furnish promptly to the indemnifying
Party copies of all papers and official documents received in respect of any Losses and Third Party Claims. Notwithstanding the foregoing, any delay or failure to provide any notices or copies pursuant to this Section 14.5(c) shall not
constitute a waiver or release of, or otherwise limit, the Indemnified Party’s rights to indemnification under this Section 14.5, except to the extent that such delay or failure materially prejudices the indemnifying Party’s ability
to defend against the relevant claims. 
 (d) Defense, Settlement, Cooperation and Expenses. 

(i) Control of Defense. At its option, the indemnifying Party may assume the defense of any Third Party Claim by giving
written notice to the Indemnified Party within [***] days after the indemnifying Party’s receipt of an Indemnification Claim Notice. The assumption of the defense of a Third Party Claim by the indemnifying Party will 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 will it constitute a waiver by the indemnifying Party of any defenses it may assert against the Indemnified Party’s
claim for indemnification. Upon assuming 

  
 58 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
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 (the
indemnifying Party will consult with the Indemnified Party with respect to a possible conflict of interest of such counsel retained by the indemnifying Party). In the event the indemnifying Party assumes the defense of a Third Party Claim, the
Indemnified Party will 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 14.5(d)(ii), the indemnifying Party will not be liable to the Indemnified Party for any legal costs or expenses subsequently incurred by such Indemnified Party in connection with the
analysis, defense or settlement of the Third Party Claim. [***] 
 (ii) Right to Participate in Defense. Without
limiting Section 14.5(d)(i), any Indemnified Party will 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 will be at
the Indemnified Party’s own cost and expense unless [***]. 
 (iii) Settlement. With respect to any Third Party
Claims that relate solely to the payment of money damages in connection with a Third Party Claim and that will not result in the Indemnified Party’s becoming subject to injunctive or other relief or otherwise adversely affecting the business of
the Indemnified Party in any manner, and as to which the indemnifying Party will have acknowledged in writing the obligation to indemnify the Indemnified Party hereunder, the indemnifying Party will have the sole right to agree 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, will 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 14.5(d)(i), the indemnifying Party will have authority to agree to the entry of any judgment, enter into any settlement or otherwise dispose of such
Loss provided it obtains the prior written consent of the Indemnified Party (such consent not to be unreasonably withheld, delayed or conditioned). The indemnifying Party will not be liable for any settlement or other disposition of a Loss by an
Indemnified Party that is reached without the prior written consent of the indemnifying Party. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, no Indemnified Party will admit any liability with
respect to or settle, compromise or discharge, any Third Party Claim without the prior written consent of the indemnifying Party, such consent not to be unreasonably withheld, delayed or conditioned. 

(iv) Cooperation. If the indemnifying Party chooses to defend or prosecute any Third Party Claim, the Indemnified Party
will, and will cause each other Indemnified Party to, cooperate in the defense or prosecution thereof and will 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 will include access during normal business hours afforded to 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 will reimburse the Indemnified Party for all its reasonable out-of-pocket costs and expenses in connection therewith. 

  
 59 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (v) Costs and Expenses. Except as provided above in this
Section 14.5(d), the reasonable and verifiable costs and expenses, including attorneys’ fees and expenses, incurred by the Indemnified Party in connection with any claim will be reimbursed on a Calendar Quarter basis 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. 
 14.6. Insurance. Each Party will maintain at its sole cost and expense, an adequate liability
insurance or self-insurance program (including product liability insurance) to protect against potential liabilities and risk arising out of activities to be performed under this Agreement, and any agreement related hereto and upon such terms
(including coverages, deductible limits and self-insured retentions) as are customary in the U.S. pharmaceutical industry, or, if such activities are conducted outside the U.S., as are customary in such country, for the activities to be conducted by
such Party under this Agreement. The coverage limits set forth herein will not create any limitation on a Party’s liability to the other under this Agreement. Each Party shall provide the other Party with written evidence of such insurance upon
request. Each Party shall provide the other Party with written notice at least [***] days prior to the cancellation, non renewal or material change in such insurance or self insurance which materially adversely affects the rights of the other Party
hereunder. 
 14.7. Covenants of Moderna. Moderna hereby covenants that: 

(a) [***] 

(b) [***] 

14.8. Additional Covenants. [***] 

15. Term and Termination. 

15.1. Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated in accordance with the
terms hereof or by mutual written consent, shall continue on a Product-by-Product and
country-by-country basis until the end of the Royalty Term with respect to such Product in such country (the “Term”). On a country-by-country and Product-by-Product basis, upon the expiration of the Royalty Term for
such Product in such country the licenses granted to Merck shall become fully-paid, [***] for such Product in such country. 

15.2. Termination by Moderna for Breach. Moderna will have the right to terminate this Agreement in full in the event of
a material breach by Merck of this Agreement; provided, that to the extent that any such material breach is limited to a particular R&D Program, Product Candidate, Elected Candidate, Product or country, Moderna will have the right to
terminate this Agreement only with respect to such R&D Program, Product Candidate, Elected Candidate, Product or country to which such material breach primarily relates. Notwithstanding the foregoing, any such termination under this
Section 15.2 will not be effective if such material breach has been cured within [***] days after written notice thereof is given by Moderna to Merck specifying the nature of the alleged material breach (or, if such default cannot be cured
within such [***]-day period, such longer period as reasonably required to cure such material breach; provided, that Merck commences actions to cure such default within such [***]-day period and thereafter diligently continues such actions); provided, that to the extent such material breach involves the failure to make an undisputed payment when due, such material breach must be
cured within [***] days after written notice thereof is given by Moderna to Merck. [***] 

  
 60 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 15.3. Termination by Merck. 

(a) Breach. Merck will have the right to terminate this Agreement in full in the event of a material breach by Moderna
of this Agreement; provided, that to the extent that any such material breach is limited to a particular R&D Program, Product Candidate, Elected Candidate, Product or country, Merck will have the right to terminate this Agreement only
with respect to such R&D Program, Product Candidate, Elected Candidate, Product or country to which such material breach primarily relates. Notwithstanding the foregoing, any such termination under this Section 15.3(a) will not be effective
if such material breach has been cured within [***] days after written notice thereof is given by Merck to Moderna specifying the nature of the alleged material breach (or, if such default cannot be cured within such
[***]-day period, such longer period as reasonably required to cure such material breach; provided, that Moderna commences actions to cure such default within such
[***]-day period and thereafter diligently continues such actions). [***] 
 (b)
Discretionary Termination. 
 (i) Merck will have the right to terminate this Agreement in its entirety or with
respect to an Product Candidate, Elected Candidate, or Product upon [***] days after delivery of written notice to Moderna if Merck concludes due to scientific, technical, regulatory or commercial reasons, including [***]. 

(ii) Merck will have the right to terminate this Agreement for any reason in its entirety or with respect to a Product
Candidate, Elected Candidate and associated Product upon [***] days after delivery of written notice to Moderna. 
 15.4.
Terminated Rights. In the event this Agreement is terminated with respect only to particular R&D Programs, Product Candidates, Elected Candidates or Products (and is not terminated in full), such terminated R&D Programs, Product
Candidates, Elected Candidates and associated Products are referred to herein as the “Terminated Rights”, and the rights and obligations of the Parties as to the remaining R&D Programs, Product Candidates, Elected Candidates and
associated Products in which termination has not yet occurred shall be unaffected by such termination. 
 15.5. Effects of
Termination by Moderna for Merck Material Breach. Upon termination of this Agreement in full or with respect to any Terminated Rights by Moderna pursuant to Section 15.2: 

(a) all rights and licenses granted by Moderna to Merck in Section 9.1 with respect to the Terminated Rights will
terminate, and Merck and its Affiliates will cease all use of Moderna Technology hereunder and all Development of and Commercialization of such Terminated Rights. Subject to the remainder of this Section 15.5, all rights and licenses granted by
Merck to Moderna in Section 9.2 with respect to the Terminated Rights will terminate and Moderna and its Affiliates will cease all use of the applicable Merck Technology. 

  
 61 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) any R&D Targets and R&D [***] Targets and R&D Polypeptides
therefor, Product Candidates, Elected Candidates, Collaboration mRNA Constructs and Products with respect to the Terminated Rights will become, respectively, Discontinued Targets, and Discontinued mRNA Constructs. 

(c) Merck will responsibly wind-down, in accordance with accepted pharmaceutical industry norms and ethical practices, any on-going clinical studies with respect to the Terminated Rights in which patient dosing has commenced or, if requested by Moderna, Merck will transfer responsibility for such clinical study to Moderna. Merck will be
responsible for any costs associated with such wind-down. [***] 
 (d) to the extent permitted by applicable Law, [***] owned
(in whole or in part) by Merck or its Affiliates or Sublicensees relating exclusively to the Terminated Rights (but excluding any Combination Product), as such items exist as of the effective date of such termination (including [***]) will be
assigned to Moderna, and Merck will provide to Moderna one (1) copy of the foregoing and all [***] in any such items. In the event of failure to obtain assignment, Merck hereby consents and grants to Moderna the [***]. 

(e) Merck hereby grants to Moderna, and Moderna shall automatically have, a worldwide, [***], royalty-free and fully paid-up, exclusive license, with the right to grant sublicenses through multiple tiers, under the [***] owned by Merck or any of its Affiliates as of the date of such termination and [***] the Terminated Rights,
effective only as of and after the effective date of such termination, for Developing and Commercializing such Terminated Rights (but excluding [***]) but solely as such Terminated Rights were being Developed or Commercialized by Merck as of the
effective date of such termination. 
 15.6. Effects of Termination by Merck for Discretionary Reasons or for Moderna
Breach. Upon termination of this Agreement by Merck pursuant to Section 15.3(a) in full or with respect to any Terminated Rights:  

(a) all rights and licenses granted by Moderna to Merck in Section 9.1 with respect to the Terminated Rights will
terminate, and Merck and its Affiliates will cease all use of Moderna Technology hereunder and all Development of and Commercialization of such Terminated Rights. All rights and licenses granted by Merck to Moderna in Section 9.2 with respect
to the Terminated Rights will terminate and Moderna and its Affiliates will cease all use of the applicable Merck Technology. 

(b) any R&D Programs, R&D Targets and R&D [***] Targets (and [***]), Product Candidates, Elected Candidates,
Collaboration mRNA Constructs and Products with respect to the Terminated Rights will become, respectively, Discontinued Programs, Discontinued Targets and Discontinued mRNA Constructs. 

(c) Merck will responsibly wind-down, [***], any on-going clinical studies with respect
to the Terminated Rights in which patient dosing has commenced or, if requested by Moderna, Merck will transfer responsibility for such clinical study to Moderna; provided that Moderna shall not have the right to request a transfer of such clinical
study if the termination is pursuant to Section 15.3(b)(i)(A). Merck will be responsible for any costs associated with such wind-down; provided that if the termination is pursuant to Section 15.3(a), Moderna shall be responsible for such
costs. [***] 

  
 62 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Merck will covenant not to, alone or in cooperation with any Third Party,
sue or to bring any cause of action against Moderna, its Affiliates, or any sublicensees of the foregoing for any type of infringement or misappropriation under the Merck Technology owned by Merck or its Affiliates for the development, manufacture,
use, commercialization, offer for sale, sale, distribution, import or export of any of the Terminated Rights (but excluding any Combination Product). 

(e) The Parties hereby acknowledge and agree that in the event that Merck delivers notice of termination to Moderna pursuant to
Section 15.3(a), but prior to the effective date of such termination, a Milestone Payment under Table 1 in Section 8.4 becomes payable in accordance with Section 8.4, then, notwithstanding the provisions of Section 8.4 or
anything to the contrary contained herein, Merck shall not be required to pay any such Milestone Payment to Moderna. 
 15.7.
Alternative to Termination. Notwithstanding the foregoing, in the event this Agreement (or any particular Terminated Right) may otherwise be validly terminated by Merck pursuant to Section 15.3(a), then in lieu of such termination, Merck
may elect, at its option, to [***] but otherwise to continue this Agreement in force with respect to such Terminated Right. 

15.8. Return of Confidential Information. Except as otherwise necessary to continue exercising any ongoing licenses
under this Agreement, upon expiration or termination of this Agreement, the Parties will return (or destroy or erase, as directed by the other Party) all data, files, records and other materials containing or comprising the other Party’s
Confidential Information with respect to the Terminated Rights. Notwithstanding the foregoing, (i) in respect of physical embodiments of information, the Parties will be permitted to retain one copy of such data, files, records, and other
materials for non-commercial archival purposes, and (ii) in respect of any information stored electronically or in other non-physical media, it will be sufficient
for such Party to procure that access to such information is restricted to non-commercial archiving purposes only. 

15.9. Survival. In addition to the consequences of expiration or termination set forth in Section 15.4, the
following provisions will survive termination or expiration of this Agreement: [***]. Termination or expiration of this Agreement will not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such
termination or expiration nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity with respect to any breach of this Agreement. All other rights and obligations will terminate upon expiration of
this Agreement. 
 16. General Provisions. 

16.1. Dispute Resolution. 

(a) Disputes. Disputes of any nature arising under, relating to, or in connection with this Agreement
(“Disputes”) will be resolved pursuant to this Section 16.1. 

  
 63 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Dispute Escalation. In the event of a Dispute between the Parties,
the Parties will first attempt to resolve such dispute by negotiation and consultation between themselves or the JSC. In the event that such dispute is not resolved on an informal basis within [***] days from receipt of the written notice of a
Dispute, any Party may, by written notice to the other, have such dispute referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt to resolve such
Dispute by negotiation and consultation for a [***] day period following receipt of such written notice. 
 (c) Full
Arbitration. In the event the Parties have not resolved such Dispute within [***] days of receipt of the written notice referring such Dispute to the Executive Officers, either Party may at any time after such [***]-day period submit such
Dispute to be finally settled by arbitration administered in accordance with the procedural rules of the American Arbitration Association (“AAA”) in effect at the time of submission, as modified by this
Section 16.1(c). The arbitration will be governed by the Laws of the state of New York. The arbitration will be heard and determined by three (3) arbitrators who are retired judges or attorneys with at least [***] of relevant experience in
the pharmaceutical and biotechnology industry, each of whom will be impartial and independent. Each Party will appoint one arbitrator and the third arbitrator will be selected by the two Party-appointed arbitrators, or, failing agreement within
[***] days following appointment of the second arbitrator, by AAA. Such arbitration will take place in [***]. The arbitration award so given will be a final and binding determination of the dispute, will be fully enforceable in any court of
competent jurisdiction, and will not include any damages expressly prohibited by Section 14.4. Fees, costs and expenses of arbitration are to be divided by the Parties in the following manner: Merck will pay for the arbitrator it chooses,
Moderna will pay for the arbitrator it chooses, and the Parties will share payment for the third arbitrator. Except in a proceeding to enforce the results of the arbitration or as otherwise required by law, neither Party nor any arbitrator may
disclose the existence, content or results of any arbitration hereunder without the prior written consent of both Parties (each such consent not to be unreasonably withheld, delayed or conditioned). 

(d) Injunctive Relief. Notwithstanding the dispute resolution procedures set forth in this Section 16.1, in the
event of an actual or threatened breach of this Agreement, the aggrieved Party may seek provisional equitable relief (including restraining orders, specific performance or other injunctive relief), without first submitting to any dispute resolution
procedures hereunder. 
 (e) Tolling. The Parties agree that all applicable statutes of limitation and time-based
defenses (such as estoppel and laches) will be tolled while the dispute resolution procedures set forth in this Section 16.1 are pending, and the Parties will cooperate in taking all actions reasonably necessary to achieve such a result. [***]

 16.2. Cumulative Remedies and Irreparable Harm. All rights and remedies of the Parties hereunder will be cumulative
and in addition to all other rights and remedies provided hereunder or available by agreement, at law or otherwise. Each Party acknowledges and agrees that breach of any of the terms or conditions of this Agreement may cause irreparable harm and
damage to the other and that such damage may not be ascertainable in money damages and that as a result thereof the non-breaching Party would be entitled to seek on an interim basis from a court and on a
permanent basis from an arbitral tribunal equitable or injunctive relief restraining any breach or future violation of the terms contained herein by the breaching Party without the necessity of proving actual damages or posting bond. Such right to
equitable relief is in addition to whatever remedies either Party may be entitled to as a matter of law or equity, including money damages. 

  
 64 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 16.3. Business Combination. Notwithstanding anything to the contrary
herein, in the event of an acquisition of a Party by a Significant Third Party as part of a Business Combination, then for purposes of this Agreement, [***]. “Significant Third Party” means a Third Party [***].  

16.4. Relationship of Parties. Nothing in this Agreement is intended or will be deemed to constitute a partnership,
agency, employer-employee or joint venture relationship between the Parties. No Party will incur any debts or make any commitments for the other, except to the extent, if at all, specifically provided herein. There are no express or implied third
party beneficiaries hereunder. 
 16.5. Compliance with Law. Each Party will perform or cause to be performed any and
all of its obligations or the exercise of any and all of its rights hereunder in good scientific manner and in compliance with all applicable Law. 

16.6. Force Majeure. Neither Party will be liable to the other for failure of or delay in performing obligations set
forth in this Agreement, and neither will be deemed in breach of such obligations, if such failure or delay is due to natural disasters or any causes reasonably beyond the control of such Party; provided, that the Party affected will promptly
notify the other of the force majeure condition and will exert reasonable efforts to eliminate, cure or overcome any such causes and to resume performance of its obligations as soon as possible. 

16.7. Governing Law. This Agreement will be governed by and construed in accordance with the Laws of the state of New
York, without respect to its conflict of laws rules or principles that might otherwise refer construction or interpretation of this Agreement to the substantive Law of another jurisdiction; provided, that any dispute relating to the scope,
validity, enforceability or infringement of any Patents will be governed by, and construed and enforced in accordance with, the substantive Laws of the jurisdiction in which such Patents apply. The Parties agree to exclude the application to this
Agreement of the United Nations Convention on Contracts for the International Sale of Goods.  
 16.8.
Counterparts; Facsimiles. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, and all of which together will be deemed to be one and the same instrument. Facsimile or PDF execution and
delivery of this Agreement by either Party will constitute a legal, valid and binding execution and delivery of this Agreement by such Party 

16.9. Headings. All headings in this Agreement are for convenience only and will not affect the meaning of any provision
hereof. 
 16.10. Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in
connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement will be construed against the drafting party will not apply. 

16.11. Interpretation. Whenever any provision of this Agreement uses the term “including” (or
“includes”), such term will be deemed to mean “including without limitation” (or “includes without limitations”). “Herein,” “hereby,” “hereunder,” “hereof” and other equivalent
words refer to this Agreement as an entirety and not solely to the particular portion of this 

  
 65 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Agreement in which any such word is used. Except where the context otherwise requires, whenever used, the singular will include the plural, the plural the singular, the use of any gender will be
applicable to all genders and the word “or” is used in the inclusive sense (and/or). Unless otherwise provided, all references to Sections, Schedules and Exhibits in this Agreement are to Sections, Schedules and Exhibits of this Agreement.
References to any Sections include Sections and subsections that are part of the related Section (e.g., a section numbered “Section 2.1” would be part of “Section 2”, and references to
“Section 2.1” would also refer to material contained in the subsection described as “Section 2.1(a)”). Citations to a statute or regulation will be deemed to mean such statute or regulation and any amendment or
supplement thereto or any replacement thereof. 
 16.12. Binding Effect. This Agreement will inure to the benefit of
and be binding upon the Parties, their Affiliates, and their respective lawful successors and assigns. 
 16.13.
Assignment. 
 (a) This Agreement may not be assigned by either Party, nor may either Party delegate its obligations
or otherwise transfer any licenses granted herein or other rights created by this Agreement, except as expressly permitted hereunder, without the prior written consent of the other Party, which consent will not be unreasonably withheld, delayed or
conditioned; provided, that either Party may assign this Agreement to an Affiliate (provided that the Party assigning to an Affiliate will remain fully liable for any acts or omissions, including financial liabilities, of such Affiliate) or to such
Party’s successor in connection with the merger, consolidation, sale of all or substantially all of its assets or that portion of its business pertaining to the subject matter of this Agreement, or any Business Combination of such Party. The
rights and obligations of the Parties under this Agreement will be binding upon and inure to the benefit of the successors and permitted assigns of the Parties, and the name of a Party appearing herein will be deemed to include the name of such
Party’s successors and permitted assigns to the extent necessary to carry out the intent of this Section 16.13. 

(b) In the event Moderna or any Affiliate of Moderna that does work hereunder or is in possession of Confidential Information
of Merck (including Moderna LLC) undergoes as a Business Combination, Moderna shall [***]. 
 16.14. Extension to
Affiliates. Each Party shall have the right to extend the rights, licenses, immunities and obligations granted or imposed in this Agreement to one or more of its Affiliates, and in the case of Moderna, Moderna acknowledges that it will use its
wholly-owned Affiliate Valera LLC to perform certain Collaboration Activities hereunder. All applicable terms and provisions of this Agreement shall apply to any such Affiliate to which this Agreement has been extended to the same extent as
such terms and provisions apply to such Party. Each Party shall remain fully liable for any acts or omissions, including financial liabilities, of such Affiliates. To the extent that this Agreement imposes obligations on any Affiliates of
a Party, such Party agrees to cause its Affiliates to perform such obligations. 
  

  
 66 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 16.15. Notices. All notices, requests, demands and other
communications required or permitted to be given pursuant to this Agreement will be in writing and will be deemed to have been duly given upon the date of receipt if delivered by hand, recognized international overnight courier, confirmed facsimile
transmission, or registered or certified mail, return receipt requested, postage prepaid to the following addresses or facsimile numbers: 
  

			
	 If to Moderna:
	  	Moderna Therapeutics, Inc.
		  	200 Technology Square
		  	Cambridge, MA 02139
		  	Attention: Chief Executive Officer
		
	 With a copy to:
	  	Moderna Therapeutics, Inc.
		  	200 Technology Square
		  	Cambridge, MA 02139
		  	Attention: General Counsel
		
	 If to Merck:
	  	Merck Sharp & Dohme Corp.
		  	One Merck Drive
		  	P.O. Box 100, WS3A-65
		  	Whitehouse Station, NJ 08889-0100
		  	Attention: Office of Secretary
		  	Facsimile No.: (908)735-1246
		
	 With a copy to:
	  	Merck Sharp & Dohme Corp.
		  	One Merck Drive
		  	P.O. Box 100
		  	Whitehouse Station, NJ 08889-0100
		  	Attention: Vice-President, Business Development and Licensing, Merck Research Laboratories
		  	Facsimile No.: (908)735-1204

 Either Party may change its designated address and facsimile number by notice to the other Party in the manner
provided in this Section 16.14. 
 16.16. Amendment and Waiver. This Agreement may be amended, supplemented, or
otherwise modified only by means of a written instrument signed by both Parties; provided, that any unilateral undertaking or waiver made by one Party in favor of the other will be enforceable if undertaken in a writing signed by the Party to
be charged with the undertaking or waiver. Any waiver of any rights or failure to act in a specific instance will relate only to such instance and will not be construed as an agreement to waive any rights or fail to act in any other instance,
whether or not similar. 
 16.17. Severability. In the event that any provision of this Agreement will, for any
reason, be held to be invalid or unenforceable in any respect, and if the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (a) such provisions will be given no effect by the
Parties and will not form part of this Agreement, (b) all other provisions of this Agreement will remain in full force and effect, and (c) the Parties will negotiate in good faith to modify this Agreement to preserve (to the extent
possible) their original intent. 

  
 67 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 16.18. Entire Agreement. This Agreement is the sole agreements with
respect to the subject matter and supersede all other agreements and understandings between the Parties with respect to same (including the Confidentiality Agreement). 

[Remainder of this Page Intentionally Left Blank] 

  
 68 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 IN WITNESS WHEREOF, the Parties have caused this Master Collaboration and
License Agreement to be executed by their respective duly authorized officers as of the Effective Date. 
 MODERNA
THERAPEUTICS, INC. 
  

			
	 By:
	 	 /s/ Stéphane Bancel

		 	 (Signature)

	 Name:
	 	 Stéphane Bancel

	 Title:
  
	 	 President and CEO

	 MERCK SHARP & DOHME CORP.

 

	 By:
	 	 /s/ Iain D. Dukes

		 	 (Signature)

	 Name:
	 	 Iain D. Dukes

	 Title:
	 	 SVP, Business Development and Licensing

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT A 

General Supply Terms 

[***] 

  
 Exhibit A — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT B 

[***] 
 [***] 

  
 Exhibit B — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 [***] 
  

			
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

 [***] 

  
 Exhibit B-2 — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT C 

Merck Exclusive Targets 
  

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

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

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

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

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

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

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

  
 Exhibit C — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 Exhibit C — 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 Exhibit C — 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 Exhibit C — 4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

  
 Exhibit C — 5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT D 

Existing Partner Fields 

[***] 

  
 Exhibit D — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT E 

Expedited Dispute Resolution Procedure 

[***] 

  
 Exhibit E — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT F 

[***] 

  
 Exhibit F — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT G 

Permitted Subcontractors 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 Exhibit G — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 Exhibit G — 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

  
 Exhibit G — 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT H 

Press Release 
  

 
 Moderna Announces License and Collaboration Agreement with Merck to Develop Messenger RNA-based Antiviral Vaccines and Passive Immunity Therapies 
 CAMBRIDGE, Mass., January, 13,
2015 – Moderna Therapeutics today announced a license and collaboration agreement with Merck, known as MSD outside the United States and Canada, through a subsidiary, for the discovery and development of vaccines and passive immunity
treatments against viral diseases using modified messenger RNA (mRNA). Moderna is a pioneer in the development of mRNA TherapeuticsTM across a range of therapeutic applications. Moderna’s
work in the collaboration will be led by Valera, its venture focused on the development of mRNA vaccines and therapeutics to fight infectious disease. 

The vaccines work of Valera builds on a body of preclinical research at Moderna showing the ability of modified mRNA to express viral antigens
in vivo and to induce robust immune responses. Valera’s therapeutic passive immunity programs will expand on Moderna’s research using mRNA to express antibodies that bind to viral and other targets. The robust data in these programs across
a range of preclinical infectious disease models, together with the inherent, rapid turn-around time in creating novel mRNA constructs, provide Valera with a potentially powerful and versatile new platform for the creation of a broad array of
vaccines and passive immunity therapies. 
 “Given the tremendous potential for messenger RNA Therapeutics across a wide range of
therapeutic applications, establishing long-term strategic relationships with world leaders in their fields will accelerate our ability to bring mRNA products to patients in need,” said Stéphane Bancel, president and CEO of Moderna.
“Merck’s worldwide leadership in vaccines and anti-infective treatments make them an ideal collaborator for us, particularly given their strong commitment to innovation and new approaches to prevent and treat serious viral diseases. We are
excited to work in collaboration to move these promising programs forward for patients.” 
 “By combining Merck’s strength in
vaccine and antiviral therapeutic development with Moderna’s mRNA therapeutics technology we are well positioned to develop differentiated candidates with the potential to provide meaningful benefit to
patients,” said Dr. Roger M. Perlmutter, President, Merck Research Laboratories. “We look forward to working with the scientific and technical teams at Moderna.” 

  
 Exhibit H — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 The three-year research collaboration (with the possibility of a one-year extension) is focused on the development of new mRNA-based treatments and vaccines against four undisclosed viruses. Under the terms of the agreement, Merck will make an upfront cash payment to Moderna of
$50 million to give Merck the ability to utilize the granted licenses to commercialize five product candidates, and will make a $50 million equity investment in Moderna as an addition to the $450 million financing previously announced
on January 5, 2015. Moderna will be eligible for undisclosed per-product development and commercial milestones under the license as well as tiered royalties on commercial sales. Merck will lead the
discovery and development of candidates and commercialization of any products resulting from this license and collaboration agreement, while Moderna will design and synthesize the messenger RNA product candidates directed against selected targets.

 Moderna’s mRNA TherapeuticsTM platform builds on the discovery that modified mRNA can direct the body’s cellular machinery
to produce nearly any protein of interest, from native proteins to antibodies and other entirely novel protein constructs with therapeutic activity inside and outside of cells. In addition to the license and collaboration announced today with Merck,
Moderna has ongoing strategic agreements with Alexion Pharmaceuticals in the area of rare diseases, AstraZeneca in cardiovascular disease and some areas of oncology and DARPA (the Defense Advanced Research Projects Agency) in biodefense. 

About Valera, a Moderna Venture 
 Valera,
the second venture company formed by Moderna, is focused exclusively on the advancement of vaccines and therapeutics for the prevention and treatment of infectious diseases. Valera is leveraging Moderna’s messenger RNA TherapeuticsTM
platform, an entirely new in vivo drug technology that produces human proteins, antibodies and entirely novel protein constructs inside patient cells, which are in turn secreted or active intracellularly. For more information please visit
www.modernatx.com/ventures. 

  
 Exhibit H — 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 About Moderna Therapeutics 

Moderna is pioneering messenger RNA TherapeuticsTM, an entirely new in vivo drug technology that produces human proteins, antibodies
and entirely novel protein constructs inside patient cells, which are in turn secreted or active intracellularly. This breakthrough platform addresses currently undruggable targets and offers a superior alternative to existing drug modalities for a
wide range of disease conditions. The company plans to develop and commercialize its innovative mRNA drugs through a combination of strategic relationships as well as new formed ventures, including Onkaido LLC, focused oncology drug development, and
Valera LLC, focused on infectious disease. Founded by Flagship VentureLabs, Cambridge-based Moderna is privately held and currently has strategic agreements with AstraZeneca and Alexion Pharmaceuticals. www.modernatx.com. 

# # # 
 For information contact:
     
 Maria Favorito, Feinstein Kean Healthcare 

617-761-6720, maria.favorito@fkhealth.com 

  
 Exhibit H — 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT I 

[***] 
 [***] 

 

  
 Exhibit I — 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.123 

Moderna Patents as of the Effective Date 
  

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

  
 Schedule 1.123 — 1

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 2

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 3

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 4

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.1 — 5

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 6

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 7

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 8

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 9

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

  
 Schedule 1.123 — 10

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.137 

Moderna [***] In-Licenses 

 

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

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

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

  
 Schedule 1.137 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.138 

Moderna [***] In-Licenses 

[***] 

  
 Schedule 1.138 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.144 

Moderna Internal Virology Programs 

[***] 

  
 Schedule 1.144 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 FIRST AMENDMENT TO 

COLLABORATION AND LICENSE AGREEMENT 

This First Amendment to Collaboration and License Agreement (this “First Amendment”) dated as of
January 8, 2016 (the “First Amendment Effective Date”), is made by and between Moderna Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Moderna”), and Merck Sharp &
Dohme Corp., a corporation organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or together as the “Parties”. 

WHEREAS, the Parties hereto are parties to that certain Collaboration and License Agreement dated January 12, 2015 (the
“Collaboration Agreement”) under which the Parties agreed to collaborate together to discover and Develop therapeutic and vaccine products using mRNA Constructs, with the goal of identifying or creating Collaboration mRNA Constructs
that are suitable for Development and Commercialization by Merck; and 
 WHEREAS, the Parties desire to amend the
Collaboration Agreement in accordance with the terms set forth in this First Amendment. 
 NOW, THEREFORE, in consideration
of the mutual covenants set forth in this First Amendment, and other good and valuable consideration, the amount and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

1. Definitions. All terms used in this First Amendment and not otherwise defined herein shall have the same meanings
ascribed to such terms in the Collaboration Agreement. 
 2. Sections 1.21, 1.24 and 1.170 of the Collaboration Agreement are
hereby amended by deleting any reference to [***]. 
 3. Section 1.169 of the Collaboration Agreement is hereby deleted
in its entirety and is replaced with the following: 
 [***] 

4. The table in Section 8.5 (Royalties) of the Collaboration Agreement is hereby deleted in its entirety and is
replaced with the following new table: 
  

			
	 The following royalty rates [***] apply with respect to any Product (on a Product-by-Product basis) arising from an R&D Program for which the R&D Program Pathogen is [***]:

		
	 Annual Net Sales

of each Product in a Calendar Year
	  	Royalty Rate
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

			
	 The following royalty rates [***] apply with respect to any Product (on a Product-by-Product basis) arising from an R&D Program for which the R&D Program Pathogen is [***] for each Calendar Year immediately following [***]

		
	 Annual Net Sales

of each Product in a Calendar Year
	  	Royalty Rate
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

 [***] 

5. [***]: 

[***] 

6. [***]: 

[***] 

7. [***]: 

[***] 

8. Exhibit C (Merck Exclusive Targets) of the Collaboration Agreement is hereby amended by deleting each
reference to [***] and replacing with the following: 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

	 [***]
	  	 [***]
	  	

 9. Target Replacement Payment. Within [***] after the First Amendment Effective Date and
receipt of an invoice from Moderna, Merck will pay to Moderna a one-time payment of US $10,000,000, which payment will be non-refundable,
non-creditable, not subject to set-off, and not be reduced by any withholding or similar taxes. 

10. General Terms. This First Amendment modifies the Collaboration Agreement only to the extent expressly described
herein and does not modify the Collaboration Agreement (including any attachments and exhibits thereto) in any other manner. This First Amendment will be construed in accordance with and governed by the laws of the State of New York without
giving effect to principles of conflict of laws. This First Amendment may be executed in one or more counterparts, each of which will be deemed an original, and all of which together will be deemed to be one and the same instrument. Facsimile or PDF
execution and delivery of this First Amendment by either Party will constitute a legal, valid and binding execution and delivery of this First Amendment by such Party. 

[Remainder of page intentionally left blank.] 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 IN WITNESS WHEREOF, the Parties have caused this First Amendment to be
executed by their respective duly authorized officers as of the First Amendment Effective Date. 
  

			
	MODERNA THERAPEUTICS, INC. 
		
	By:	 	/s/ Stéphane Bancel
		 	(Signature)
	Name:	 	Stéphane Bancel
	Title:	 	CEO
	
	MERCK SHARP & DOHME CORP.
		
	By:	 	/s/ Benjamin Thorner
		 	(Signature)
	Name:	 	Benjamin Thorner
	Title:	 	VP BD&L

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Execution Version 

SECOND AMENDMENT TO 

COLLABORATION AND LICENSE AGREEMENT 

This Second Amendment to Collaboration and License Agreement (this “Second Amendment”), dated as of
June 28, 2016 (the “Second Amendment Effective Date”), is made by and between Moderna Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Moderna”), and Merck Sharp &
Dohme Corp., a corporation organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or together as the “Parties”. 

WHEREAS, Merck and Moderna are parties to that certain Collaboration and License Agreement dated January 12, 2015 (as
amended on January 8, 2016, the “Agreement”), under which they agreed to collaborate to discover and Develop therapeutic and vaccine products using mRNA Constructs, with the goal of identifying or creating Collaboration mRNA
Constructs that are suitable for Development and Commercialization by Merck; 
 WHEREAS, the Parties have agreed to amend
the Agreement with respect to the establishment of TPPs and the nomination of Product Candidates during the R&D Term, all in accordance with the terms set forth in this Second Amendment; and 

WHEREAS, the Parties have further agreed to amend the Agreement with respect to supply of
non-cGMP Moderna mRNA API for GLP Toxicology Studies. 
 NOW, THEREFORE, in
consideration of the mutual covenants set forth in this Second Amendment, and other good and valuable consideration, the Parties agree as follows: 

Defined Terms. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms
in the Collaboration Agreement. 
 Amendment. 

2.1 Section 1.191 of the Agreement (definition of “Product Candidate”) is hereby deleted in its entirety and is
replaced with the following: 
 “Product Candidate” means, [***]. 

2.2 The following new Section 2.8(d) is hereby added to the Agreement: 

“2.8(d) Product Candidate Nomination During the R&D Term. On an R&D Program-by-R&D Program basis, from time to time during the R&D Term, Merck may elect to establish a Product Candidate [***] as a part of such R&D Program by issuing a written notice to Moderna.
Each such notice under this Section 2.8(d) will identify [***]. For clarity, each Product Candidate established hereunder must contain at least one Collaboration mRNA Construct [***], and [***], and the Collaboration mRNA Construct(s) [***] are
included in the Product Candidate Pool for such TPP. If upon the expiration of the R&D Term, such Product Candidate is not included in a TPP, the Collaboration mRNA Constructs in such Product Candidate will become Discontinued mRNA Constructs
(to the extent such mRNA Constructs are not within any Product Candidate Pool).” 

  
 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Execution Version 

 

 2.3 The heading for Section 2.9 of the Agreement is hereby deleted in
its entirety and is replaced with the following: 
 “2.9. Target Product Profile; Product Candidate Designation
During the Post-R&D Period.” 
 2.4 Section 2.9(b) of the Agreement
is hereby deleted in its entirety and is replaced with the following new Section 2.9(b) 
 (b) Target Product Profile
Designation. On a R&D Program-by-R&D Program basis, Merck may elect by written notice to Moderna to establish one or more TPPs for such R&D Program
(each, a “TPP Notice”), provided that no more than five (5) TPPs (in the aggregate) may be established hereunder. Each TPP Notice must be issued prior to the expiration of the R&D Term and will identify the [***]. 

2.5 Section 2.9(d) of the Agreement is hereby deleted in its entirety and is replaced with the following new
Section 2.9(d): 
 “(d) Post-R&D Period Product Candidate
Notice. On a TPP-by-TPP basis from time to time during the Post-R&D Period, Merck may elect to establish a Product
Candidate comprised by Collaboration mRNA Constructs from the associated Product Candidate Pool by issuing a written notice to Moderna (a “Product Candidate Notice”). Each such Product Candidate Notice must be issued prior to the
expiration of the Post-R&D Period, and will identify [***] 
 2.6
Section 2.9(e) of the Agreement is hereby deleted in its entirety and is replaced with the following new Section 2.9(e): 

“(e) Designation of Patents. At the time (i) a TPP is established for a Product Candidate that has been
nominated pursuant to Section 2.8(d), or (ii) a Product Candidate is established pursuant to this Section 2.9, the Parties shall mutually agree upon which [***] such Product Candidates; provided that if the Parties are not able to
agree upon which category of Patents a particular patent falls into, such disagreement shall be resolved in accordance with the dispute resolution procedure set forth in [***].” 

2.7 Section 2.10(a) of the Agreement is hereby deleted in its entirety and is replaced with the following new
Section 2.10(a): 
 “(a) Elected Candidate Notice. Prior to the expiration of the Collaboration Term, Merck
may designate a Product Candidate as an “Elected Candidate” hereunder by providing Moderna with written notice of the same (an “Elected Candidate Notice”); provided that Merck may make no more than five (5) such
designations, in the aggregate, hereunder (the “Elected Candidate Cap”). If 

  
 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Execution Version 

 

 
Merck issues an Elected Candidate Notice during the R&D Term, but Merck has not, prior to the issuance of such Elected Candidate Notice, established a TPP with respect to such Elected
Candidate, then along with such Elected Candidate Notice, Merck will provide Moderna with a TPP Notice with respect to such Elected Candidate. Upon Moderna’s receipt of the Elected Candidate Notice (and TPP Notice, if applicable), such
designated Product Candidate will be an Elected Candidate. For the avoidance of doubt, a separate Elected Candidate Notice is required for each of the five (5) possible designations of Elected Candidates, and following the designation of the
fifth (5th) Elected Candidate, Merck shall no longer have the right to designate any additional Elected Candidates hereunder.” 

2.8 [***] 

[***] 

2.9 The following new Section 8.4(c)(iv) is hereby added to the Agreement: 

[***] 

2.10 The following new Section 4.1(c) is hereby added to the Agreement: 

“4.1(c) Non-cGMP Moderna mRNA API Supply for GLP Toxicology Studies. Notwithstanding the
foregoing, non-cGMP Moderna mRNA API for GLP Toxicology Studies will be supplied [***].” 

General Terms. This Second Amendment modifies the Agreement only to the extent expressly described herein and does not
modify the Agreement in any other manner. This Second Amendment will be governed by and construed in accordance with the Laws of the state of New York, without respect to its conflict of laws rules or principles that might otherwise refer
construction or interpretation of this Agreement to the substantive Law of another jurisdiction. 
 [Remainder of this Page Intentionally
Left Blank] 

  
 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 IN WITNESS WHEREOF, the Parties have caused this Second Amendment to be
executed by their respective duly authorized officers as of the Second Amendment Effective Date. 
  

			
	MODERNA THERAPEUTICS, INC. 
		
	By:	 	/s/ Stéphane Bancel
		 	(Signature)
	Name:	 	Stéphane Bancel
	Title:	 	CEO
	
	MERCK SHARP & DOHME CORP.
		
	By:	 	/s/ Benjamin Thorner
		 	(Signature)
	Name:	 	Benjamin Thorner
	Title:	 	VP BD&L

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 THIRD AMENDMENT TO 

COLLABORATION AND LICENSE AGREEMENT 

This Third Amendment to Collaboration and License Agreement (this “Third Amendment”), dated as of
June 28, 2016 (the “Third Amendment Effective Date”), is made by and between Moderna Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Moderna”), and Merck Sharp &
Dohme Corp., a corporation organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or together as the “Parties”. 

WHEREAS, Merck and Moderna are parties to that certain Collaboration and License Agreement dated January 12, 2015 (as
amended on January 8, 2016, the “Agreement”), under which they agreed to collaborate to discover and Develop therapeutic and vaccine products using mRNA Constructs, with the goal of identifying or creating Collaboration mRNA
Constructs that are suitable for Development and Commercialization by Merck; 
 WHEREAS, pursuant to the Agreement, the
Parties have been conducting an R&D Program for the Development of a Vaccine Product for RSV (the “RSV R&D Program”); 

WHEREAS, the Parties are preparing to initiate a Phase I Clinical Study with respect to the Collaboration mRNA Construct in
the RSV R&D Program as specified in the Statements of Work, which will be elected as a Product Candidate prior to commencement of the Phase I Clinical Study (the “RSV Collaboration mRNA Construct”); 

WHEREAS, the Parties have agreed that, during the Moderna RSV Lead Period (as defined below), Moderna shall act as the
regulatory lead in connection with the filing of an IND and performance of an associated Phase I Clinical Study in Australia for the RSV Collaboration mRNA Construct on the terms and conditions set forth herein; and 

WHEREAS, the Parties now desire to amend the Agreement in accordance with the terms set forth in this Third Amendment. 

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Third Amendment, and other good and valuable
consideration, the Parties agree as follows: 
 1. Defined Terms. The following terms and their correlatives will have the
meanings set forth below in this Section 1. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. 

1.1. “Amended RSV R&D Plan” means the R&D Plan (which includes a detailed budget
therefor) attached hereto as Appendix A, as may be further updated by the Parties in accordance with Section 2.1 to this Third Amendment. 

1.2. “Executive Officer” means, for Moderna, [***], Chief Executive Officer, and for Merck, [***],
Senior Vice President Research. Either Party may change its Executive Officer upon written notice to the other Party, provided that such replacement individual has decision-making authority on behalf of such Party in respect of this Third Amendment.

  
 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.3. “Moderna Lead Period” means the period
beginning on [***]. 
 1.4. “Moderna RSV Lead Activities” means [***]. The Moderna RSV Lead
Activities will be considered Collaboration Activities. 
 1.5. “RSV Drug Product” means
[***]. 
 1.6. “RSV IND” means the [***]. 

1.7. “RSV Phase I Study” means a Phase I Clinical Study of RSV Drug Product to be conducted by
Moderna in Australia as set forth in the Amended RSV R&D Plan. 
 1.8. “Statements of
Work” mean the statements of work between the Parties attached to this Third Amendment in Appendix B entitled [***] and any additional statements of work agreed to by Merck and Moderna related to the RSV Collaboration mRNA Construct
identified in the Amended RSV R&D Plan. 
 1.9. “TGA” means the Australian Therapeutic
Goods Administration. 
 2. Amendment. 

2.1. Amended RSV R&D Plan. The R&D Plan for the RSV R&D Program existing immediately prior to the Third
Amendment Effective Date is hereby replaced in its entirety with the Amended RSV R&D Plan. Notwithstanding anything in Sections 2 or 3.2 or elsewhere in the Agreement to the contrary, any modifications or amendments to the Amended RSV R&D
Plan that relate to the Moderna RSV Lead Activities will be submitted to the JSC for review and approval, [***]. Any dispute within the JSC with respect to such proposed modification or amendment to the Amended RSV R&D Plan [***] that is not
settled by the Parties within [***] days following submission to the JSC for review shall be referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will
attempt in good faith to resolve such dispute by negotiation and consultation for a [***] day period following such referral. If, despite such efforts, agreement cannot be reached by the Executive Officers within such [***] day period, then the
approval of such modification or amendment to the Amended RSV R&D Plan shall be determined by [***]. 
 2.2. RSV
Regulatory Lead. Notwithstanding anything in Section 5 or elsewhere in the Agreement to the contrary, but subject to Sections 2.3 and 2.4 of this Third Amendment, the Parties acknowledge and agree that during the Moderna Lead Period,
Moderna will have primary responsibility for preparing and maintaining all Regulatory Filings with respect to the RSV IND and RSV Phase I Study, and conducting the RSV Phase I Study, in each case in accordance with this Third Amendment and the
Amended RSV R&D Plan. Each Party shall be responsible for performing the activities allocated to such Party under the Amended RSV R&D Plan, which activities will be considered Collaboration Activities. 

2.3. RSV IND Filing. Moderna will be responsible for preparing and submitting the RSV IND, and the RSV IND will be the
property of Moderna and held in the name of Moderna; provided, however, prior to making such submission with the TGA (or any other applicable Regulatory Authority), Moderna shall submit to the JSC a draft of the RSV IND and any

  
 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
correspondence pertaining to such RSV IND to be submitted therewith to the TGA (or any other applicable Regulatory Authority). Through the JSC, Moderna will consult with Merck with respect to
such submission [***]. Any dispute within the JSC with respect to such proposed submission that is not settled by the Parties within [***] days following submission to the JSC for review shall be referred to the Executive Officers (or their
designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good faith to resolve such dispute by negotiation and consultation for a [***] day period following such referral. If, despite such
efforts, agreement cannot be reached by the Executive Officers within such [***] day period, then [***]. 
 2.4.
Regulatory Communications and Meetings. Notwithstanding anything in Section 5 or elsewhere in the Agreement to the contrary, the Parties agree that during the Moderna Lead Period, Moderna will have primary responsibility for conducting
communications with the TGA (and any other applicable Regulatory Authorities) that pertain to the RSV IND or relate to the performance of the RSV Phase I Study or otherwise relate to the Moderna RSV Lead Activities, including [***]. The Parties
(through the JSC) will discuss the strategy and shall endeavor to mutually agree upon the objectives for any such meeting or conference call. If it is not possible to provide the JSC advance notice of any such meeting or conference call, Moderna
shall thereafter provide Merck with a reasonably detailed summary of such meeting or conference call. Moderna shall promptly furnish Merck with copies of all correspondence or material Moderna provides to or receives from the TGA (or any other
applicable Regulatory Authority), including [***]. To the extent there is a disagreement between Merck and Moderna within the JSC regarding [***] after each Party reasonably and in good faith considers the other Party’s comments on such matter,
such disagreement shall be referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good faith to resolve such dispute by negotiation and
consultation for a [***] day period following such referral. If, despite such efforts, agreement cannot be reached by the Executive Officers within such [***] day period, [***]. 

2.5. RSV Drug Product Manufacture. Notwithstanding anything in Sections 4 or 7, Exhibit A or elsewhere in the
Agreement to the contrary, the Parties agree as follows: 
 (a) Moderna or its Affiliate shall Manufacture
(or have Manufactured), in accordance with the specifications and other requirements set forth in the Amended RSV R&D Plan and the applicable Statements of Work, all RSV Drug Product (including all Moderna mRNA API incorporated therein) to be
used by or on behalf of Moderna in conducting the Moderna RSV Lead Activities. Merck agrees to pay Moderna for the Manufacture of RSV Drug Product in accordance with the amounts and schedules set forth in the Amended RSV R&D Plan and applicable
Statement of Work. Moderna shall invoice Merck in accordance with the Amended RSV R&D Plan and applicable Statement of Work and Merck shall pay the undisputed portion of such invoice within [***] days of receipt of same. [***] 

(b) Moderna acknowledges and agrees that Moderna is responsible for ensuring that the RSV Drug Product is
suitable for use in connection with the RSV Phase I Study and otherwise for use in the performance of the Moderna RSV Lead Activities. Any RSV Drug Product (including [***]) that Moderna supplies to itself shall (i) be Manufactured, stored and
delivered in conformance with all applicable Law and cGMPs, (ii) be Manufactured in facilities 

  
 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
that are in compliance with applicable Law at the time of such Manufacture (including applicable inspection requirements of FDA and other Regulatory Authorities), (iii) not be adulterated or
misbranded under the FFDCA, (iv) be in good, usable and merchantable condition and fit for its intended purpose, and (v) meet such specifications, quality standards and requirements as set forth in the Amended RSV R&D Plan and
applicable Statements of Work. If Moderna mRNA API contained within the RSV Drug Product Manufactured by or on behalf of Moderna does not conform to the specifications, quality standards and requirements set forth in the Amended RSV R&D Plan and
applicable Statements of Work, Moderna will, [***]. If RSV Drug Product Manufactured by or on behalf of Moderna using Moderna mRNA API that conformed to the foregoing specifications, quality standards and requirements at the time of such
Manufacture, does not conform to the applicable specifications, quality standards and requirements set forth in the Amended RSV R&D Plan due to an error or deficiency with respect to [***], Moderna will, [***], provided that [***]; provided,
however, that [***]. Any dispute within the JSC with respect to [***] shall be referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good
faith to resolve such dispute by negotiation and consultation. If, despite such efforts, agreement cannot be reached by the Executive Officers, such matter shall be handled in accordance with [***] of the Agreement. [***] 

(c) The Parties acknowledge and agree that the Manufacture of RSV Drug Product as set forth in the Amended RSV
R&D Plan requires a license under Third Party Patents under an [***]. Moderna agrees to [***] to obtain a license under such Patents with respect to Moderna’s Manufacture of such RSV Drug Product and performance of Moderna RSV Lead
Activities. In the event that Moderna successfully obtains such a license, such license will be a Moderna Collaboration In-License under the Agreement and Moderna will provide a copy of the applicable license
agreement to Merck (subject to confidentiality obligations and reasonable redaction). [***] 
 (d) [***] 

(e) Merck may decide to use non-cGMP Moderna mRNA API for GLP
Toxicology Studies and in such case, the supply of such non-cGMP Moderna mRNA API for such GLP Toxicology Studies shall be in accordance with Section 4.1 of the Agreement. 

2.6. Costs for Performing the Moderna RSV Lead Activities. Notwithstanding anything in Section 8 or elsewhere in
the Agreement to the contrary, the Parties agree that Merck will reimburse Moderna for all Out-of-Pocket Costs and FTE Costs incurred by Moderna and its Affiliates
directly in connection with the performance of Moderna RSV Lead Activities (other than with respect to costs associated with the Manufacture of RSV Drug Product, which are addressed above), in accordance with the budget, including amounts and
schedules, set forth in the Amended RSV R&D Plan, on a Calendar Quarter-by-Calendar Quarter basis, provided that to the extent such Out-of-Pocket Costs and FTE Costs, in the aggregate, exceed [***] of the budgeted costs, then such excess Out-of-Pocket Costs
and FTE Costs shall be eligible for [***]. Any changes to the budget set forth in the Amended RSV R&D Plan, including amounts in connection with the performance of activities that are not included in the Amended RSV R&D Plan or that are not
specifically included in the budget set forth therein, shall require review and approval by the JSC, which approval may come in any written form [***]. Moderna will send a reasonably 

  
 4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
detailed invoice to Merck for each Calendar Quarter, which invoice will include [***] during such Calendar Quarter. All of the foregoing shall be auditable by Merck pursuant to
Section 8.6(c) of the Agreement. Merck agrees to pay undisputed amounts in each such invoice within [***] days of Merck’s receipt thereof. 

2.7. Termination of the Moderna Lead Period. 

(a) The Moderna Lead Period will automatically terminate upon completion of the Moderna RSV Lead Activities set
forth in the Amended RSV R&D Plan. 
 (b) [***] 

2.8. Results of Termination. 

(a) Upon any termination of the RSV Lead Period pursuant to Section 2.7 of this Third Amendment, Moderna
will responsibly wind-down, in accordance with accepted pharmaceutical industry norms and ethical practices, all in-progress Moderna RSV Lead Activities (including the [***]), or if requested by Merck and
permitted by applicable Law, Moderna will transfer responsibility for the RSV Phase I Study to Merck, in which case Merck will pay all costs incurred to complete the RSV Phase I Study should such studies be completed. [***], Moderna will be entitled
to receive payment from Merck for all Out-of-Pocket Costs and FTE Costs incurred by Moderna and its Affiliates directly in connection with [***]. 

(b) Promptly upon termination of the RSV Lead Period, Moderna shall assign and transfer to Merck (or its
designee) the RSV IND and all associated Regulatory Filings. Upon assignment to Merck, Moderna shall [***]. Thereafter, (i) Merck or its designee shall be the owner of the RSV IND and all associated Regulatory Filings, (ii) Merck shall
have the sole responsibility for all regulatory activities with respect to the RSV Collaboration mRNA Constructs, and (iii) Merck shall be the sole point of contact with Regulatory Authorities in all matters relating to the RSV Collaboration
mRNA Constructs. Moderna shall have the right to prepare, at Moderna’s cost, and retain a copy of any and all Regulatory Filings transferred to Merck pursuant to this Section 2.8(b). 

2.9. Miscellaneous. 

(a) In the event that Moderna is delayed in performing the Moderna RSV Lead Activities for a period of [***] or
more days, except [***], including delays caused by [***], the R&D Term for the RSV R&D Program will be extended by a period equal to such delay, provided that Merck has notified Moderna once Merck becomes aware of such alleged delay. 

(b) [***] 

3. General Terms. This Third Amendment modifies the Agreement only to the extent expressly described herein and does not modify the
Agreement in any other manner. This Third Amendment will be governed by and construed in accordance with the Laws of the state of New York, without respect to its conflict of laws rules or principles that might otherwise refer construction or
interpretation of this Agreement to the substantive Law of another jurisdiction. 
 [Remainder of this Page Intentionally Left Blank] 

  
 5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 IN WITNESS WHEREOF, the Parties have caused this Third Amendment to be executed by
their respective duly authorized officers as of the Third Amendment Effective Date. 
  

			
	MODERNA THERAPEUTICS, INC. 
		
	By:	 	/s/ Stéphane Bancel
		 	(Signature)
	Name:	 	Stéphane Bancel
	Title:	 	CEO
	
	MERCK SHARP & DOHME CORP.
		
	By:	 	/s/ Benjamin Thorner
		 	(Signature)
	Name:	 	Benjamin Thorner
	Title:	 	VP BD&L

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Appendix A 

Amended RSV R&D Plan 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Execution Version 

FOURTH AMENDMENT TO 

MASTER COLLABORATION AND LICENSE AGREEMENT 

This Fourth Amendment to Master Collaboration and License Agreement (this “Amendment”), dated as of
June 28, 2016 (the “Amendment Effective Date”), is made by and between Moderna Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Moderna”), and Merck Sharp & Dohme
Corp., a corporation organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or together as the “Parties”. 

WHEREAS, Merck and Moderna are parties to that certain Master Collaboration and License Agreement, dated January 12, 2015
(as amended and in effect from time to time, the “Agreement”), under which they agreed to collaborate to discover and Develop therapeutic and vaccine products using mRNA Constructs, with the goal of identifying or creating
Collaboration mRNA Constructs that are suitable for Development and Commercialization by Merck; 
 WHEREAS, [***]; and 

WHEREAS, [***]. 

WHEREAS, the Parties now desire to amend the Agreement in accordance with the terms set forth in this Amendment. 

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment, and other good and valuable
consideration, the Parties agree as follows: 
 1. Defined Terms. Capitalized terms used but not defined herein shall
have the respective meanings ascribed to such terms in the Agreement. 
 2. Amendment. [***] 

3. General Terms. This Amendment modifies the Agreement only to the extent expressly described herein and does not
modify the Agreement in any other manner. This Amendment will be governed by and construed in accordance with the Laws of the state of New York, without respect to its conflict of laws rules or principles that might otherwise refer construction or
interpretation of this Agreement to the substantive Law of another jurisdiction. 
 [Remainder of this Page Intentionally Left Blank]

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Signature Page to Fourth Amendment 

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their respective duly authorized officers
as of the Amendment Effective Date. 
  

			
	MODERNA THERAPEUTICS, INC. 
		
	By:	 	/s/ Stéphane Bancel
		 	(Signature)
	Name:	 	Stéphane Bancel
	Title:	 	Chief Executive Officer
	
	MERCK SHARP & DOHME CORP.
		
	By:	 	/s/ Benjamin Thorner
		 	(Signature)
	Name:	 	Benjamin Thorner
	Title:	 	VP BD&LEX-10.5

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Exhibit 10.5 

CONFIDENTIAL 

EXECUTION VERSION 

Amended and Restated 

mRNA Cancer Vaccine Collaboration and License Agreement 

by and between 

MODERNATX, INC. 

and 

MERCK SHARP & DOHME CORP. 

April 17, 2018 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 List of Exhibits and Schedules 

Exhibit A-1: POC Plan for PCV Program 

Exhibit A-2: POC Plan for KRAS Program 

Exhibit A-3: Research Plan for [***] 

Exhibit B: Financial Definitions 
 Exhibit C: Relative Commercial
Value 
 Exhibit D: Exercise of Merck Participation Election – Profit & Loss Share 

Exhibit E: Economic Effects of Merck Non-Participation and Merck Cessation of Collaboration Activities

 Exhibit F: In-Licenses 

Exhibit G: Confidential CMC Document Review Procedures 
 Exhibit
H: Moderna Technology Transfer 
 Exhibit I: Form Press Release 

Exhibit J: Patent Prosecution and Maintenance; Patent Enforcement 

Exhibit K: Supply Terms 
 Exhibit L: Subcontractors and
Sublicensing 
 Exhibit L-1: Permitted Subcontractors 

Exhibit L-2: Certain Sublicensing/Subcontracting Examples 

Exhibit M: Terms for PCV Clinical Supply Agreement and SAV Clinical Supply Agreement 

Exhibit N: Supply Terms for Merck Internal SAV Programs 

Schedule 1.235: Moderna Background Patents 

Schedule 1.253: Moderna Pre-Existing In-Licenses 

Schedule 3.4(c)(ii): Initial KRAS Transition Plan 
 Schedule
6.1(d)(iv): Required Manufacturing Items 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 AMENDED AND RESTATED MRNA CANCER VACCINE COLLABORATION AND LICENSE AGREEMENT

 This Amended and Restated mRNA Cancer Vaccine Collaboration and License Agreement (this
“Agreement”), dated as of April 17, 2018 (the “Amended Effective Date”), is made by and between ModernaTX, Inc., a corporation organized and existing under the laws of Delaware
(“Moderna”), and Merck Sharp & Dohme Corp., a corporation organized and existing under the laws of New Jersey (“Merck”). Each of Moderna and Merck may be referred to herein as a “Party” or
together as the “Parties”. 
 WHEREAS, Moderna and its Affiliates have developed expertise and technology
useful for the research, development, manufacture, or commercialization of pharmaceutical products that function using mRNA; 

WHEREAS, Moderna and its Affiliates are focused on the advancement of mRNA cancer vaccines that are based on formulated mRNA
Constructs that encode for neoantigens or other antigens using mRNA Technology; 
 WHEREAS, Merck is a pharmaceutical
company focused on researching, developing, manufacturing and commercializing innovative therapeutic products; 
 WHEREAS,
Merck and Moderna previously entered into that certain PCV Collaboration and License Agreement dated as of June 28, 2016, as amended (the “Original Agreement” and such date, the “Effective Date”) pursuant to
which the Parties established a broad research and development collaboration pursuant to which Moderna would Research and Develop Collaboration PCV Products through proof of concept, and Merck would thereafter have the right to continue with Moderna
in the Research, Development, Manufacture and Commercialization of Collaboration PCV Products; and 
 WHEREAS, the Parties
now desire to amend and restate the Original Agreement in its entirety and replace the Original Agreement with this Agreement, to, among other things, expand the scope of the Collaboration to include SAVs in addition to PCVs. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the
amount and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
  

	1.	 DEFINITIONS 

The following terms and their correlatives will have the following meanings: 

1.1 “2015 Collaboration Agreement” means that certain Master Collaboration and License Agreement, by and
between Moderna and Merck, dated as of January 12, 2015, as amended or restated from time to time. 
 1.2 “2016
CSA” means that certain Pre-Clinical and Clinical Supply Agreement, by and between Moderna and Merck, dated on or about June 27, 2016, as amended or restated from time to time. 

  
 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.3 “AAA” has the meaning set forth in Section 15.1(c).

 1.4 “Act” means, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C.
§§ 301 et seq., and/or the Public Health Service Act, 42 U.S.C. §§ 262 et seq., as such may be amended from time to time, together with any rules, regulations and requirements promulgated thereunder (including all additions,
supplements, extensions, and modifications thereto). 
 1.5 “Additional Converted Program Research
Activities” has the meaning set forth in Section 3.1(e)(i)(1). 
 1.6 “Additional Moderna PCV POC Term
Study” has the meaning set forth in Section 3.3(d). 
 1.7 “Additional Research Plan” means a
written plan setting forth the Collaboration Activities of the Parties with respect to any Additional Research Program and the budget therefor that is approved by both of the Parties. 

1.8 “Additional Research Program” has the meaning set forth in Section 4.1(b). 

1.9 “Additional Regulatory Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.10 “Additional Study” means any Clinical Study (including any Phase IV Clinical Study) proposed by a Party
pursuant to Section 4.4(a)(i) to be conducted during the Merck Participation Term for a given Program to Develop any Collaboration Product from such Program as a monotherapy or in combination with one or more Other Components beyond any
Clinical Study(ies) contemplated by the then-current Joint Development Plan and Budget for the applicable Program. 
 1.11
“Additional Study Proposal” has the meaning set forth in Section 4.4(a)(i). 
 1.12 “Adverse
Event” per the International Conference on Harmonization (ICH), means any untoward medical occurrence in a patient or clinical investigation subject administered a pharmaceutical product and which does not necessarily have to have a causal
relationship with this treatment. An Adverse Event can therefore be any unfavorable and unintended sign (including an abnormal laboratory finding, for example), symptom, or disease temporally associated with the use of a medicinal product, whether
or not considered related to such medicinal product. 
 1.13 “Affiliate” of a Person means any other Person
which (directly or indirectly) is controlled by, controls or is under common control with such Person. A Person will be deemed to “control” another Person if it: (a) with respect to such other Person that is a corporation, owns,
directly or indirectly, beneficially or legally, more than fifty percent (50%) of the outstanding voting securities or capital stock (or such lesser percentage which is the maximum allowed to be owned by such Person in a particular jurisdiction) of
such other Person, or, with respect to such other Person that is not a corporation, has other comparable ownership interest; or (b) has the power, whether pursuant to contract, ownership of securities or otherwise, to direct the management and
policies of such other Person. 

  
 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.14 “Agent Technology” means the Moderna Agent Technology
and the Merck Agent Technology. 
 1.15 “Agreement” has the meaning set forth in the Recitals. 

1.16 “Allowable Commercialization Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.17 “Allowable Development Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.18 “Amended Anticipated PCV POC Budget” means Two Hundred Forty-Three Million Dollars ($243,000,000), or
such other amount as the Parties may mutually agree in the POC Plan for the PCV Program. 
 1.19 “Amended Effective
Date” has the meaning set forth in the Recitals. 
 1.20 “Antitrust Clearance Date” has the meaning
set forth in Section 14.1. 
 1.21 [***] 

1.22 “Bankruptcy Code” has the meaning set forth in Section 10.5. 

1.23 “Batch Records” means, with respect to a batch of product Manufactured, (a) batch records (including
all attachments thereto), including pre-filtration Bioburden results, per process environmental monitoring reports, differential pressure alarm reports, CIP/SIP data,
in-process CTU temperature charts, reports and details of major investigations, and reports and details of product related change controls, in English, and (b) any investigation or deviation reports (and
details thereof) related to such product, in English, and (c) a release assay qualification summary report and a pre-campaign cleaning report, in English; in each case, for such batch. 

1.24 “Business Combination” means, with respect to a Party (or its Affiliate), any of the following events:
(a) any Third Party (or group of Third Parties acting in concert) acquires (including by way of a tender or exchange offer or issuance by such Party (or its Affiliate)), directly or indirectly, beneficial ownership or a right to acquire
beneficial ownership of shares of such Party (or its Affiliate) representing more than fifty percent (50%) of the voting shares (where voting refers to being entitled to vote for the election of directors) then outstanding of such Party (or its
Affiliate); (b) such Party (or its Affiliate) consolidates with or merges into another corporation or entity which is a Third Party, or any corporation or entity which is a Third Party consolidates with or merges into such Party (or its
Affiliate), in either event, pursuant to a transaction in which more than fifty percent (50%) of the voting shares of the acquiring or resulting entity outstanding immediately after such consolidation or merger is not held by the holders of the
outstanding voting shares of such Party (or its Affiliate) immediately preceding such consolidation or merger; or (c) such Party (or its Affiliate) sells, transfers, leases or otherwise disposes of all or substantially all of the assets to
which this Agreement relates to a Third Party. 

  
 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.25 “Business Day” means any day other than a Saturday or
Sunday on which banking institutions in New York, NY are open for business. 
 1.26 “Calendar Quarter” means
the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31; provided, however, that (a) the first Calendar Quarter of this Agreement shall commence on the
Effective Date and end at the end of the Calendar Quarter in which the Effective Date occurs and (b) the last Calendar Quarter of this Agreement shall commence at the commencement of such Calendar Quarter and end on the expiration of the Term.

 1.27 “Calendar Year” means each twelve (12) month period beginning on January 1st; provided,
however, that (a) the first Calendar Year of this Agreement shall commence on the Effective Date and end on December 31 of the same year and (b) the last Calendar Year of this Agreement shall commence on January 1 of the Calendar
Year in which this Agreement expires and end on the expiration of the Term. 
 1.28 “Cash Losses” has the
meaning set forth in the Financial Definitions Exhibit. 
 1.29 “Cash Profits” has the meaning set forth in
the Financial Definitions Exhibit. 
 1.30 “Cash Profits or Losses” has the meaning set forth in the
Financial Definitions Exhibit. 
 1.31 [***] 

1.32 “Cessation Transition Plan” has the meaning set forth in Section 10.10(b). 

1.33 “cGMP” means the then-current good manufacturing practices, standards, guidelines and regulations
promulgated and published by FDA, EMA or any other applicable Regulatory Authorities having jurisdiction over the Manufacture, Development or Commercialization of any product (and any precursor steps), as applicable, relating to the testing,
manufacturing, processing, packaging, holding or distribution of drug substances and finished drugs including any standards, guidelines and regulations as promulgated by, as applicable: (a) the FDA under and in accordance with the U.S. Federal
Food, Drug and Cosmetic Act and Title 21, Parts 210 and 211 of the U.S. Code of Federal Regulations, (b) the EMA and the EU Commission under European Directive 2003/94/EC, and/or (c) the ICH Harmonised Tripartite Good Manufacturing
Practice Guide For Active Pharmaceutical Ingredients (ICH Q7), as such standards, guidelines and regulations may be amended from time to time. 

1.34 “Clinical Data” means all information with respect to a Collaboration Product made, collected or
otherwise generated under or in connection with Clinical Studies for such Collaboration Product undertaken under the applicable POC Plan or Development Plan(s), including any data, reports and results with respect thereto. 

  
 4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.35 “Clinical Initiation Criteria” means, with respect to a
given Joint SAV Program (other than the KRAS Program), the criteria that are agreed upon by the Parties as part of, and set forth in, the POC Plan for such Joint SAV Program, which may be changed from time to time by written agreement of the Parties
and which, among other data and information, will be used by the Parties to determine the suitability of an SAV for (a) the filing of an IND for such SAV and (b) the conduct of Phase I Clinical Studies with such SAV under such Joint SAV
Program. The Clinical Initiation Criteria shall include criteria based upon [***]. 
 1.36 “Clinical Quality
Agreement” means a quality agreement entered into between the Parties with respect to the Manufacture of Collaboration Product for Development purposes during the Collaboration Term for the applicable Program, including pursuant to
Section 6.2(d), 6.2(e) or Exhibit K. 
 1.37 “Clinical Study” means a
clinical study (including a Post-Marketing Study or Phase IV Clinical Study) in humans the purpose of which is to obtain information regarding the product, including information relating to the safety, tolerability, pharmacological activity,
pharmacokinetics, dose ranging or efficacy of the product, as applicable. 
 1.38 [***] 

1.39 “CMC” means Chemistry and Manufacturing Controls, which includes (a) Manufacturing process
development records for products, (b) all chemistry, Manufacturing and control procedures necessary for Manufacture of products, and (c) sourcing and testing of all raw materials and components used in the Manufacture of products. 

1.40 “Co-Promotion” means those detailing and promotional activities
(including performing sales calls) with respect to a Collaboration Product undertaken by or on behalf of either Party to encourage appropriate prescribing of such Collaboration Product in the U.S. in accordance with Section 8 and any Co-Promotion Agreement. When used as a verb, “to Co-Promote” means to engage in Co-Promotion, and “Co-Promoted” has a corresponding meaning. 
 1.41 “Co-Promotion Agreement” has the meaning set forth in Section 8.5(b). 
 1.42
“Code” has the meaning set forth in Section 5.4. 
 1.43 “Collaboration” means each of
the programs for the Research, Development, Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) that is engaged in by or on behalf of one or more of the Parties under this Agreement during the applicable
Collaboration Term. 
 1.44 “Collaboration Activities” means the activities conducted by or on behalf of one
or more of the Parties or its Affiliates as part of the Collaboration. 
 1.45 [***] 

1.46 “Collaboration Know-How” means [***]. 

1.47 [***] 

  
 5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.48 [***] 

1.49 [***] 

1.50 “Collaboration Patents” means any and all Patents that claim or cover any of the Collaboration Know-How. 
 1.51 “Collaboration PCV Manufacturing Facility” means, with
respect to the PCV Program, the Manufacturing facilities, or portion thereof, established by or on behalf of Moderna [***] for the PCV Program that is intended to be used for the Manufacture of Collaboration PCV Products for the PCV Program during
the Collaboration Term for the PCV Program in accordance with this Agreement. 
 1.52 “Collaboration PCV
Product” means, with respect to the PCV Program, any [***]. At either Party’s request, the Parties will mutually identify the then-existing Collaboration PCV Products. [***] For the avoidance of doubt, Collaboration PCV Products shall
exclude Collaboration SAV Products; provided, however, that a Collaboration PCV Product for [***]. 
 1.53
“Collaboration Product” means any Collaboration PCV Product or Collaboration SAV Product, as applicable. 

1.54 “Collaboration SAV Manufacturing Facility” means, with respect to a given Joint SAV Program, the
Manufacturing facilities, or portion thereof, that are intended to be used for the Manufacture of Collaboration SAV Products for such Joint SAV Program during the Collaboration Term for such Joint SAV Program in accordance with this Agreement. 

1.55 “Collaboration SAV Product” means, with respect to a given Joint SAV Program, any [***]. For the
avoidance of doubt, Collaboration SAV Products shall exclude Collaboration PCV Products. 
 1.56 “Collaboration
Shared Neoepitope(s)” means, with respect to a given SAV Program, [***]. 
 1.57 “Collaboration
Technology” means, [***]. 
 1.58 “Collaboration Term” means, with respect to a given Program, the
Internal SAV Program Term (if any), the POC Term, the Merck Participation Election Period, and, if Merck exercises the Merck Participation Election, the Merck Participation Term, in each case for such Program. 

1.59 “Combination Product” means: 

(a) a single pharmaceutical formulation [***] containing, as its active ingredients, both (i) a Collaboration Product or
Financial PCV or Financial SAV, on the one hand, and (ii) one or more Other Component(s), on the other hand, or 

  
 6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) a combination therapy comprised of (i) a Collaboration Product or
Financial PCV or Financial SAV, on one hand, and (ii) one or more Other Component(s), on the other hand, either when (1) priced and sold in a single package containing such multiple products, or (2) packaged separately but sold
together for a single price,  
 in each case, including all dosage forms,
formulations, presentations, and package configurations. Drug delivery vehicles, adjuvants and excipients will not be deemed to be “active ingredients”, except in the case where such delivery vehicle, adjuvant or excipient is recognized by
the FDA as an active ingredient in accordance with 21 C.F.R. 210.3(b)(7). 
 1.60 “Commencement” means,
together with all correlative meanings, [***] in a Clinical Study. 
 1.61 [***] 

1.62 “Commercial Grant” means a grant by a Selling Party of a license or sublicense of the Merck Technology or
Moderna Technology to a Third Party to Commercialize (which may also include Manufacture and Development to support any such Commercialization) any one or more Collaboration Products or Financial PCVs or Financial SAVs within one or more countries.

 1.63 “Commercial Liabilities” has the meaning set forth in the Financial Definitions Exhibit. 

1.64 “Commercial Quality Agreement” has the meaning set forth in Section 6.3(b). 

1.65 “Commercial Supply Agreement” has the meaning set forth in Section 6.3(b). 

1.66 “Commercialization” means any and all activities related to the import, export, transportation, storage,
marketing, detailing, promotion, distribution, sale or other disposition and/or other approved use of a product in a country or region in the Territory, including: (a) strategic marketing, sales force detailing (including Co-Promotion), advertising, Medical Affairs, reimbursement and market access activities and market and product support; and (b) all customer support, Distribution Matters, invoicing and sales activities. When
used as a verb, “to Commercialize” and “Commercializing” means to engage in Commercialization, and “Commercialized” has a corresponding meaning. For clarity, Commercialization excludes any Research, Development or
Manufacturing activities. 
 1.67 “Commercialization Activities” means, on a Collaboration Product-by-Collaboration Product basis, all global Commercialization activities undertaken with respect to such Collaboration Product. 

1.68 “Commercially Reasonable Efforts” means with respect to the efforts to be expended by a Party with
respect to any objective, [***]. 
 1.69 “Committee” means the POC Committee, [***], Joint Steering
Committee, Joint Development Committee, Joint Manufacturing Committee or Joint Commercialization Committee, or any other subcommittee, as applicable. 

  
 7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.70 “Competitive Infringement” has the meaning set forth in
Exhibit J. 
 1.71 “Competitive PCV Product”
means[***].  
 1.72 “Competitive SAV Product” means
[***]. 
 1.73 “Confidential CMC Data” means, with respect to a product, all [***] CMC-related data and information for such product. 
 1.74 “Confidential CMC
Documents” has the meaning set forth in Exhibit G. 
 1.75 “Confidential Information” has
the meaning set forth in Section 12.1(a). 
 1.76 “Contracting Party” has the meaning set forth in
Exhibit F. 
 1.77 “Control” or “Controlled” means, with respect to any Know-How, Patent or other intellectual property right, the possession (whether by ownership, license or sublicense, other than by a license, sublicense or other right granted (but not assignment) pursuant to this
Agreement) by a Party (or its Affiliate) of the ability to assign or grant to the other Party the licenses, sublicenses or rights to access and use such Know-How, Patent or other intellectual property right as
provided for in this Agreement, without violating the terms of any agreement or other arrangement with any Third Party in existence as of the time such Party would be required hereunder to grant such license, sublicense, or rights of access and use.
Know-How, Patents or other intellectual property rights that are licensed to a Party or its Affiliates or jointly owned by a Party or its Affiliates, on the one hand, and a Third Party, on the other hand, in
each case pursuant to an In-License are not “Controlled” by such Party or its Affiliates for purposes of this Agreement unless and only after such agreement is included hereunder as an Included In-License pursuant to Exhibit F. 
 1.78 “Cost of Goods Sold” has
the meaning set forth in the Financial Definitions Exhibit. 
 1.79 “Credit Against Profits Mechanism” has
the meaning set forth in Exhibit D. 
 1.80 “CTA” means an application to a Regulatory Authority for
purposes of requesting the ability to start or continue a Clinical Study, which CTA may consist of, or include, an IND. 

1.81 “Development” means any and all clinical drug development activities, Clinical Studies, statistical
analysis and report writing, the preparation and submission of Regulatory Filings, regulatory affairs with respect to the foregoing and all other activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority
as a condition or in support of obtaining or maintaining a Regulatory Approval for a product, and “Develop”, “Developed” and “Developing” will have corresponding meanings. For clarity, Development
excludes any Research, Commercialization or Manufacturing activities. 
 1.82 “Development Costs” has the
meaning set forth in the Financial Definitions Exhibit. 

  
 8 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.83 “Development Plan(s)” means, with respect to a Program,
collectively, the Joint Development Plan and Budget and any Independent Additional Study Development Plan(s) for such Program. 

1.84 “Development Transition Plan” has the meaning set forth in Section 4.3(b). 

1.85 “DOJ” has the meaning set forth in Section 14.1. 

1.86 “Directed” means [***]. 

1.87 “Direct Manufacturing Costs” shall be calculated consistent with GAAP and include [***]. 

1.88 “Direct Marketing Expenses” has the meaning set forth in the Financial Definitions Exhibit. 

1.89 “Disclosing Party” has the meaning set forth in Section 12.1(a). 

1.90 “Dispute Proposal” has the meaning set forth in Section 15.1(c). 

1.91 “Disputes” has the meaning set forth in Section 15.1(a). 

1.92 “Distribution Expenses” has the meaning set forth in the Financial Definitions Exhibit. 

1.93 “Distribution Matters” means all issues and decisions regarding the distribution of products, including
decisions as to whether and with which wholesalers and distributors, if any, to contract, and the terms of contracts with such wholesalers and distributors. 

1.94 “Distributor” means a Third Party [***]. 

1.95 “DMF” means any drug master file, biologics master file (types 2, 3, 4, and 5) or For Further
Manufacturing Use (FFMU) BLA, as applicable, filed with the FDA, and any equivalent filing in other countries or regulatory jurisdictions, including active substance master files submitted to the EMA. 

1.96 “Effective Date” has the meaning set forth in the Recitals. 

1.97 “EMA” means the Regulatory Authority known as the European Medicines Agency and any successor agency
thereto. 
 1.98 “Equity Agreement” means the Series H Preferred Stock Purchase Agreement, dated as of the
Amended Effective Date, by and among Moderna Therapeutics, Inc. and the investors listed therein. 
 1.99 “ex-U.S. Antitrust Filing” has the meaning set forth in Section 15.19. 

1.100 “Exclusions Lists” has the meaning set forth in Section 1.403. 

  
 9 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.101 “Executive Officer” means, for Moderna, [***], and for
Merck, [***]. Either Party may change its Executive Officer upon written notice to the other Party, provided that such replacement individual has decision-making authority on behalf of such Party in respect of this Agreement. 

1.102 “Expert” means a person with no less than [***] of pharmaceutical industry experience and expertise
having occupied at least one senior position within a large pharmaceutical company relating to commercialization and/or licensing but excluding any current or former employee or consultant of either Party or its Affiliates. Such person shall be
fluent in the English language. 
 1.103 “Expert Committee” has the meaning set forth in Exhibit C.

 1.104 “FDA” means the United States Food and Drug Administration and any successor agency thereto. 

1.105 [***] 

1.106 [***] 

1.107 “Financial Definitions Exhibit” means Exhibit B. 

1.108 “Financial PCV” has the meaning set forth in the Financial Definitions Exhibit. 

1.109 “Financial SAV” has the meaning set forth in the Financial Definitions Exhibit. 

1.110 “First Commercial Sale” means, with respect to any Collaboration Product or a Financial PCV or Financial
SAV in a country, the first commercial sale by a Selling Party to a Third Party on arm’s length terms for end use or consumption of such Collaboration Product or a Financial PCV or Financial SAV, as the case may be, in such country after all
required Regulatory Approvals for commercial sale of the applicable Collaboration Product or a Financial PCV or Financial SAV have been obtained in such country. Sales prior to receipt of Regulatory Approval for such Collaboration Product or a
Financial PCV or Financial SAV, such as so-called “treatment IND sales”, “named patient sales”, and “compassionate use sales” shall not be construed as a First Commercial Sale.

 1.111 “FTC” has the meaning set forth in Section 14.1. 

1.112 “FTE” means the equivalent of a full-time scientific or technical person’s work time over a twelve
(12) month period (including normal vacation, sick days and holidays) devoted to, and directly related to, conducting activities under this Agreement, in accordance with this Agreement, based on [***] person-hours or greater per year. In the
event that an individual devotes less than such full time to conducting activities under this Agreement in accordance with this Agreement during such twelve (12) month period, then for purposes of this Agreement, such individual shall only
count as a portion of an FTE which shall be determined by dividing the number of full days during the applicable twelve (12) month period devoted to, and directly related to, conducting activities under this Agreement in accordance with this
Agreement by the total number of working days during such twelve (12) month period. No individual may be charged at greater than one (1) FTE in a given Calendar Year. 

  
 10 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.113 “FTE Costs” means, the actual FTEs employed by
Moderna, Merck or their respective Affiliates or Sublicensees in the conduct of any activities under this Agreement multiplied by the FTE Rate, which represents [***]. 

1.114 “FTE Rate” means [***] per one (1) full FTE per full twelve (12) month Calendar Year;
provided, that, starting [***], such rate shall adjust [***] of each Calendar Year by an amount equal to the change, if any, in [***]. Notwithstanding the foregoing, for any Calendar Year during the Term that is less than a full year, the above
referenced rate shall be proportionately reduced to reflect such portion of such full Calendar Year. 
 1.115
“GAAP” means U.S. generally accepted accounting principles or International Financial Reporting Standards, consistently applied, as designated and used by the applicable Party. 

1.116 “General PCV” means [***], but excluding any General SAV. 

1.117 “General SAV” means [***], but excluding any General PCV. 

1.118 “Global Commercialization Budget” has the meaning set forth in Section 8.4(b). 

1.119 “Global Commercialization Plan” means, with respect to a Collaboration Product, a written plan that
describes the plans for the Commercialization of such Collaboration Product in the Territory, including [***]. Each Global Commercialization Plan will be updated from time to time in accordance with Section 8.4(c). 

1.120 “Good Clinical Practice” or “GCP” means the applicable then-current Good Clinical
Practices as such term is defined from time to time by the FDA or other relevant Regulatory Authority having jurisdiction over the development, manufacture or sale of products pursuant to its regulations, guidelines or otherwise, as applicable. 

1.121 “Good Laboratory Practice” or “GLP” means the applicable then-current standards for
laboratory activities for pharmaceuticals (including biologicals) or vaccines, as applicable, as set forth in the Act, together with any similar standards of good laboratory practice as are required by any Regulatory Authority having jurisdiction
over the applicable activity. 
 1.122 “Gross Profit” has the meaning set forth in the Financial Definitions
Exhibit. 
 1.123 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and
the rules promulgated thereunder. 
 1.124 “HSR Filing” means any filing with the United States Federal
Trade Commission and the Antitrust Division of the United States Department of Justice of a Notification and Report Form for Certain Mergers and Acquisitions (as that term is defined in the HSR Act) with respect to the subject matter of this
Agreement, together with all required documentary attachments thereto. 

  
 11 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.125 “Human Materials” has the meaning set forth in
Section 5.2. 
 1.126 “IAS Costs” has the meaning set for in the Financial Definitions Exhibit. 

1.127 “IAS Party” has the meaning set forth in Section 7.1(b). 

1.128 [***] 

1.129 [***] 

1.130 [***] 

1.131 “In-License” means a Moderna
Pre-Existing In-License, Moderna New In-License or a Merck In-License. 

1.132 “In-License Upfront Payment” has the meaning set forth in
Section 2(a) of Exhibit F. 
 1.133 “Included
In-License” means an Included Moderna In-License or an Included Merck In-License. 

1.134 “Included In-License IP” means Patents and Know-How in-licensed by a Party from a Third Party pursuant to an Included In-License, including any extensions or expansions of the
scope thereof. 
 1.135 “Included In-License Payments” means, with
respect to a Contracting Party and an Included In-License, any amounts paid or payable during the Term by such Contracting Party under such Included In-License that are
or were incurred by or on behalf of such Contracting Party or its Affiliates as a result of (a) [***], (b) the grant of [***], (c) the grant or exercise [***] or (d) [***], in each case ((a)-(d)), under and in accordance with the terms of this
Agreement, but excluding in all cases [***]; provided, however, that the Parties will agree on [***]. 
 1.136
“Included Merck In-License” has the meaning set forth in Section 1(c) of Exhibit F. 

1.137 “Included Moderna In-License” means an Included
Moderna New In-License, an Included Moderna Pre-Existing In-License or an Included Permitted
In-License. 
 1.138 “Included Moderna New In-License” has the meaning set forth in Section 1(b)(ii) of Exhibit F. 

1.139 “Included Moderna Pre-Existing In-License” has the meaning set forth in Section 1(a) of Exhibit F. 

1.140 “Included Permitted In-License” has the meaning set forth in
Section 1(d) of Exhibit F. 
 1.141 [***] 

  
 12 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.142 [***] 

1.143 [***] 

1.144 [***] 

1.145 “IND” means an Investigational New Drug Application filed with the FDA pursuant to 21 C.F.R. §312
before the commencement of human clinical trials involving a product, including all amendments and supplements to such application, or any equivalent filing with any Regulatory Authority outside the United States. 

1.146 “IND-Enabling Studies” means, for a given SAV Program, the non-clinical pharmacology studies (including pharmacokinetic and toxicology studies) identified in the POC Plan for such SAV Program that are intended to be performed prior to filing an IND/CTA with respect to the
SAVs that are being Researched for such SAV Program under the POC Plan. 
 1.147 “Indemnification Claim
Notice” has the meaning set forth in Section 13.6(c). 
 1.148 “Indemnified Party” has the
meaning set forth in Section 13.6(c). 
 1.149 “Independent Additional Study” has the meaning set forth
in Section 4.4(a)(ii). 
 1.150 “Independent Additional Study Development Plan” has the meaning set
forth in Section 4.4(a)(ii). 
 1.151 “Indirect Manufacturing Costs” shall be calculated consistent
with GAAP and include [***]. 
 1.152 “Indirect Marketing Expenses” has the meaning set forth in the
Financial Definitions Exhibit. 
 1.153 “Individualized Neoepitope(s)” means [***]. 

1.154 “Initial PCV POC Program Funding Amount” means Two Hundred Million Dollars ($200,000,000). 

1.155 “Initiation” of a Program means, (i) with respect to the PCV Program, [***], (ii) with respect to
the KRAS Program, [***], (iii) with respect to any Internal SAV Program, [***] and (iv) with respect to any other Joint SAV Program, [***]. 

1.156 “Internal SAV Program” means the Research by a Party or its Affiliates of SAVs Directed against a given
Target(s) under the Collaboration in accordance with an Internal SAV Program Plan for such Target(s), which the other Party [***] in accordance with Section 3.1(d)(i). 

1.157 “Internal SAV Program Plan” means a written plan that has been prepared by the Party conducting an
Internal SAV Program. 
 1.158 “Internal SAV Program Term” means, with respect to a given Internal SAV
Program, the period commencing on [***]. 

  
 13 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.159 “IP Committee” means the intellectual property
advisory committee as more fully described in Paragraph 1.1 of Exhibit J. 
 1.160 “ISP Party” means
the Party conducting a given Internal SAV Program pursuant to the applicable Internal SAV Program Plan. 
 1.161
“Issuing Party” has the meaning set forth in Section 12.3(c). 
 1.162 “Joint Commercialization
Committee” or “JCC” has the meaning set forth in Section 2.7. 
 1.163 “Joint
Development Committee” or “JDC” has the meaning set forth in Section 2.5. 
 1.164
“Joint Development Plan and Budget” has the meaning set forth in Section 4.3(c)(i). 
 1.165
“Joint Development Program” has the meaning set forth in Section 4.1(c). 
 1.166 “Joint
Development Study” has the meaning set forth in Section 4.4(a)(i). 
 1.167 “Joint Know-How” means all Collaboration Know-How within [***] that is jointly owned by the Parties in accordance with Section 11.4. 

1.168 “Joint Manufacturing Committee” or “JMC” has the meaning set forth in
Section 2.6(a). 
 1.169 “Joint Patents” means all Collaboration Patents within [***] that are jointly
owned by the Parties in accordance with Section 11.4. 
 1.170 “Joint SAV Program” means the
collaborative Research, Development and Manufacture by the Parties or their respective Affiliates of SAVs (including Collaboration SAV Products) Directed against a given SAV Target(s) in accordance with the POC Plan for such SAV Target(s), and if
Merck exercises the applicable Merck Participation Election and pays the Participation Election Payment, the further Research of SAVs (including Collaboration SAV Products) Directed against such SAV Target(s) in accordance with an Additional
Research Plan, and the Development, Manufacture and Commercialization of Collaboration SAV Products Directed against such SAV Target(s) by or on behalf of one or more of the Parties under the Collaboration in accordance with this Agreement. [***]

 1.171 “Joint Steering Committee” or “JSC” has the meaning set forth in Section 2.4.

 1.172 “Joint Technology” means all Joint Know-How and Joint
Patents. 
 1.173 “Keytruda” means Merck’s human pharmaceutical product Keytruda® (pembrolizumab).  

  
 14 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.174 “Know-How”
means all non-public technical, scientific, and other know-how and information, trade secrets, knowledge, technology, means, methods, processes, practices, formulae,
instructions, skills, techniques, procedures, experiences, ideas, designs, drawings, assembly procedures, Software, computer programs, apparatuses, specifications, data, results and materials, including: biological, chemical, vaccine-related,
pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and information, including study designs and protocols, assays,
and biological methodology, in all cases, whether or not copyrightable or patentable, in written, electronic or any other form now known or hereafter developed. 

1.175 “Knowledge” means with respect to the matter in question, the knowledge of any [***]. 

1.176 “KRAS” means [***]. 

1.177 “KRAS POC Program” has the meaning set forth in Section 3.1(b). 

1.178 “KRAS Program” means the Research, Development and Manufacture of SAVs (including Collaboration SAV
Products) Directed against KRAS in accordance with the POC Plan for KRAS, and if Merck exercises the applicable Merck Participation Election and pays the applicable Participation Election Payment, the further Research of SAVs (including
Collaboration SAV Products) Directed against KRAS in accordance with an Additional Research Plan, and the Development, Manufacture and Commercialization of Collaboration SAV Products Directed against KRAS by or on behalf of one or more of the
Parties under the Collaboration in accordance with this Agreement. 
 1.179 “KRAS Transition Date” has the
meaning set forth in Section 3.4(c)(ii). 
 1.180 “KRAS Transition Plan” has the meaning set forth in
Section 3.4(c)(ii). 
 1.181 “Law” or “Laws” means all laws, statutes, enactments,
acts of legislature, rules, regulations, orders, judgments, guidelines, policies, directions, directives, or ordinances having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision
of any jurisdiction which are applicable to any of the Parties or their respective Affiliates in carrying out activities hereunder or to which any of the Parties or their respective Affiliates in carrying out the activities hereunder is subject,
including the Act and GLPs, GCPs and cGMPs. 
 1.182 “Lead Regulatory Party” means, for a given Program, the
POC Lead Regulatory Party or the Merck Participation Term Lead Regulatory Party, as applicable. 
 1.183 [***] 

1.184 [***] 

1.185 [***] 

1.186 “Losses” has the meaning set forth in Section 13.6(a). 

  
 15 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.187 “Manufacturing” means the production, manufacture,
synthesis, processing, filling, formulating, finishing, packaging, labeling, shipping and holding of product or any intermediate thereof (including with respect to a PCV, receipt of patient samples, sequencing, identifying and analyzing tumor
specific mutations (e.g., using sequencing or genomics tools)), process development, process qualification and validation, scale-up, commercial manufacture and analytic development, product
characterization, stability testing, quality assurance and quality control. “Manufacturing” refers to both pre-clinical and clinical Manufacturing for Research and Development, and Manufacturing for
Commercialization. “Manufacture” and “Manufactured” will have corresponding meanings. For clarity, “Manufacturing” excludes Research, Development or Commercialization activities. 

1.188 “Manufacturing Capacity Forecast” has the meaning set forth in Section 6.2(g)(i). 

1.189 “Manufacturing Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.190 “Manufacturing Subcontractor” means, with respect to Merck, any Third Party that, as a contract
manufacturer (for example, as of the Amended Effective Date, the Third Parties listed on Exhibit L-1) of Merck or any of its Affiliates, may Manufacture the applicable cGMP Collaboration Product in
connection with a technology transfer pursuant to this Agreement or the PCV Clinical Supply Agreement, the SAV Clinical Supply Agreement, Commercial Supply Agreement, [***] (as applicable), which Third Party is designated by Merck and is reasonably
acceptable to Moderna (and in all cases those listed on Exhibit L-1 are deemed acceptable); provided that Moderna may only determine that a Third Party selected by Merck to act as a contract
manufacturer of Merck (or its Affiliate) is not reasonably acceptable [***] if (a) such Third Party manufacturer or its Affiliate is a biotech or pharmaceutical company [***] that Researches, Develops or Commercializes (i) [***] (for example,
as of the Amended Effective Date, the Third Parties listed on Exhibit L-2), or (ii) [***] (for example, as of the Amended Effective Date, the Third Parties listed on Exhibit L-2), or (b) with respect to Third Party manufacturing in [***], Moderna has reasonable concerns [***] relating to [***]. 

1.191 “Material(s)” means any tangible chemical or biological material, including any compounds, DNA and RNA
(modified and unmodified), mRNA Constructs, polypeptides, clones, cells, plasmids, lipids, vectors, receptors, any other nucleic acids, proteins, peptides and any expression product, progeny, derivative or other improvement thereto, along with any
tangible chemical or biological material embodying any Know-How. 
 1.192
“Medical Affairs” means, with respect to a product, the performance of activities with respect to: continuing medical education therefor; development, publication and dissemination of publications; exhibiting and presenting at
seminars and conventions; conducting health economic studies; conducting speakers programs; conducting appropriate activities involving opinion leaders; engaging medical science liaisons and conducting medical science liaison activities; disease
education to health care professionals and consumers; conducting advisory board meetings or other consultant programs; and establishing clinical consumer and patient registries. 

1.193 “Medical Affairs Costs” has the meaning set forth in the Financial Definitions Exhibit. 

  
 16 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.194 “Merck” has the meaning set forth in the Recitals.

 1.195 “Merck Acquisition” has the meaning set forth in Section 10.8(d)(ii). 

1.196 “Merck Acquisition Program” has the meaning set forth in Section 10.8(d)(ii). 

1.197 “Merck Agent” means any [***] Controlled by Merck or its Affiliates (but not [***]). 

1.198 “Merck Agent Technology” has the meaning set forth in Section 11.3. 

1.199 “Merck Background Know-How” means, on a Program-by-Program basis, subject to Section 10.12, any and all Know-How Controlled by Merck or its Affiliates (a) as of the
date of Initiation of such Program, or (b) as to which Merck or its Affiliates obtains Control during the Collaboration Term for such Program, in each case ((a)-(b)) that [***], excluding [***] Merck’s rights in any Collaboration Know-How. 
 1.200 “Merck Background Patents” means, on a Program-by-Program basis, subject to Section 10.12, those Patents that are Controlled by Merck or its Affiliates (a) as of the date of Initiation of such Program, or
(b) as to which Merck or its Affiliates obtains Control during the Collaboration Term for such Program, in each case ((a)-(b)) that claim or cover the Merck Background Know-How for such Program, excluding
in each case ((a) and (b)) Merck’s rights in any Collaboration Patents. 
 1.201 “Merck Background
Technology” means Merck Background Know-How and Merck Background Patents. 

1.202 “Merck Business Combination Program” has the meaning set forth in Section 10.8(d)(i). 

1.203 “Merck Cessation Election” has the meaning set forth in Section 10.10. 

1.204 [***] 

1.205 [***] 

1.206 “Merck General Patents” means Merck Background Patents, excluding [***]. 

1.207 “Merck In-License” has the meaning set forth in
Section 1(c) of Exhibit F. 
 1.208 “Merck Indemnitees” has the meaning set
forth in Section 13.6(b). 
 1.209 “Merck Internal SAV Program” means an Internal SAV Program being
conducted by Merck or its Affiliates. 
 1.210 [***] 

1.211 “Merck Non-Participation” has the meaning set forth in
Section 3.7(a). 

  
 17 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.212 “Merck Participation Election” has the meaning set
forth in Section 3.5(b). 
 1.213 “Merck Participation Election Date” means, with respect to the PCV
Program or a given Joint SAV Program, [***]. 
 1.214 “Merck Participation Election Notice” has the meaning
set forth in Section 3.5(c). 
 1.215 “Merck Participation Election Period” means, with respect to the
PCV Program or a given Joint SAV Program, the period commencing on the date of Initiation of such Program and ending upon the earliest of [***]. 

1.216 “Merck Participation Term” means, for the PCV Program or a given Joint SAV Program, the period
commencing on the Merck Participation Election Date for such Program and ending upon [***]. 
 1.217 “Merck
Participation Term Lead Regulatory Party” means [***] with respect to the PCV Program or any Joint SAV Program, unless otherwise agreed to by the Parties in writing with respect to a given Program. 

1.218 “Merck Patents” means the Merck General Patents and the [***]. 

1.219 [***] 

1.220 “Merck Program Director” has the meaning set forth in Section 2.2. 

1.221 [***] 

1.222 [***] 

1.223 “Merck Reimbursement Cap” has the meaning set forth in Exhibit E. 

1.224 “Merck Representatives” has the meaning set forth in Exhibit G. 

1.225 [***] 

1.226 “Merck SAV Program Costs” means, [***]. 

1.227 [***] 

1.228 “Merck Technology” means collectively, Merck Background Technology and Merck’s interest in
Collaboration Technology. 
 1.229 “Moderna” has the meaning set forth in the Recitals. 

1.230 [***] 

1.231 [***] 

  
 18 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.232 “Moderna Agent” means any [***] Controlled by Moderna
or its Affiliates (but not Collaboration Products). 
 1.233 “Moderna Agent Technology” has the
meaning set forth in Section 11.2. 
 1.234 “Moderna Background
Know-How” means, on a Program-by-Program basis, subject to Section 10.12, any and all Know-How Controlled by Moderna or any of its Affiliates (a) as of the date of Initiation of such Program, including [***], or (b) as to which Moderna or any of its Affiliates obtains Control during the
Collaboration Term for such Program, in each case ((a)-(b)) that [***], excluding [***] Moderna’s rights in any Collaboration Know-How. 

1.235 “Moderna Background Patents” means, on a Program-by-Program basis, subject to Section 10.12, those Patents that are Controlled by Moderna or any of its Affiliates [***] that claim or cover the Moderna Background
Know-How for such Program, excluding [***] Moderna’s rights in any Collaboration Patents. 

1.236 “Moderna Background Technology” means Moderna Background
Know-How and Moderna Background Patents. 
 1.237 “Moderna Business
Combination Program” has the meaning set forth in Section 10.7(e)(i). 
 1.238 “Moderna CMC
Information” means, with respect to the PCV Program or a Joint SAV Program under this Agreement, the Confidential CMC Data of Moderna or its Affiliates with respect to a product that is Researched, Developed, Manufactured and/or
Commercialized under the PCV Program or such Joint SAV Program. 
 1.239 [***] 

1.240 [***] 

1.241 [***] 

1.242 “Moderna Commercialization Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.243 “Moderna Costs Report” has the meaning set forth in Exhibit E. 

1.244 “Moderna Development Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.245 [***] 

1.246 “Moderna General Patents” means [***]. 

1.247 “Moderna Indemnitees” has the meaning set forth in Section 13.6(a). 

1.248 “Moderna Internal SAV Program” means an Internal SAV Program being conducted by Moderna or its
Affiliates. 

  
 19 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.249 “Moderna New
In-License” has the meaning set forth in Section 1(b)(i) of Exhibit F. 

1.250 “Moderna Net Profits” has the meaning set forth in the Financial Definitions Exhibit. 

1.251 [***] 

1.252 “Moderna Patents” means the Moderna General Patents, [***] and the [***]. 

1.253 [***] 

1.254 “Moderna Pre-Existing
In-License” means, a license or other agreement between Moderna or its Affiliates and a Third Party in effect as of [***]pursuant to which a Third Party grants Moderna (or its Affiliates) a license
under any Patents or Know-How that are necessary or reasonably useful for the Research, Development, Manufacture or Commercialization of mRNA Cancer Vaccines. The Moderna
Pre-Existing In-License(s) shall be set forth on Schedule 1.254. 

1.255 [***] 

1.256 [***] 

1.257 “Moderna Program Director” has the meaning set forth in Section 2.2. 

1.258 [***] 

1.259 [***] 

1.260 [***] 

1.261 [***] 

1.262 [***] 

1.263 [***] 

1.264 “Moderna Technology” means collectively, Moderna Background Technology and Moderna’s interest in
Collaboration Technology. 
 1.265 “mRNA-5671” means mRNA-5671 as described in the POC Plan for the KRAS
Program. 
 1.266 “mRNA Cancer Vaccine” means any PCVs and/or SAVs, as applicable. 

1.267 “mRNA Cancer Vaccine Technology” means any [***]. 

 1.268 “mRNA Construct” means [***]. 

  
 20 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.269 “mRNA-PCV
Field” means Research, Development, Manufacture or Commercialization of any PCV. 
 1.270 “mRNA-SAV Field” means Research, Development, Manufacture or Commercialization of any SAV. 

1.271 “mRNA Technology” means [***]. 

1.272 “NDA” means a new drug application or a biologics license application (a “BLA”),
including all supplements and amendments thereto and all necessary documents, data, and other information concerning a product, required for Regulatory Approval of the product as a pharmaceutical product by the FDA or an equivalent application to
the equivalent agency in any other country or group of countries (e.g. the marketing authorization application (MAA) in the EU). 

1.273 “Net Residual Amount” means the difference between (a) the Upfront Payment and (b) the POC
Program Costs for the PCV Program incurred as of the earlier of (i) [***], or (ii) [***]. 
 1.274 “Net
Sales” means the gross invoice price (not including [***]) of a Collaboration Product or Financial PCV or Financial SAV sold by a Selling Party to the first Third Party after deducting, if not previously deducted, from the amount invoiced
or received: 
 (a) [***] 

(b) [***] 

(c) [***] 

(d) [***] 

(e) [***] 

(f) [***] 

(g) [***] 

wherein the foregoing actual deductions incurred in (a) through (g) shall be determined in a manner as [***], including such Financial
PCV or Financial SAV or Collaboration Product, and for the sake of clarity, where any charge or allowance as described above in this Section 1.274 shall be counted once only. [***] With respect to a Financial PCV or Financial SAV or
Collaboration Product that is sold as a Combination Product, Net Sales of such Financial PCV or Financial SAV or Collaboration Product shall be calculated in accordance with Exhibit C and shall not include the Relative Commercial Value of any
Other Component of such Combination Product in accordance with Exhibit C. 
 1.275 “New In-License” means a Moderna New In-License or a Merck In-License. 

1.276 “Non-Commercial Combination Activity” means [***]. 

  
 21 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.277 “Non-IAS
Party” has the meaning set forth in Section 7.1(b). 
 1.278
“Non-Participation PCV Net Profit Share” has the meaning set forth in Exhibit E. 

1.279 “Non-Participation SAV Net Profit Share” has the meaning set
forth in Exhibit E. 
 1.280 “Officials” has the meaning set forth in Section 5.5. 

1.281 “Original Agreement” has the meaning set forth in the Recitals. 

1.282 “Other Component” means any therapeutically or prophylactically active ingredients other than a PCV or
SAV. For clarity, an Other Component may include one or more of the following: Merck Agent, Moderna Agent, Third Party Agent or [***]. 

1.283 “Other Operating Income/Expense” has the meaning set forth in the Financial Definitions Exhibit. 

1.284 “Other SAV POC Program” has the meaning set forth in Section 3.1(c)(iv). 

1.285 “Out-of-Pocket Costs”
has the meaning set forth in the Financial Definitions Exhibit. 
 1.286 “P&L” has the meaning set forth
in Exhibit D. 
 1.287 “Participation Election Payment” has the meaning set forth in
Section 9.3(a)(ii). 
 1.288 “Parties” has the meaning set forth in the Recitals. 

1.289 “Party” has the meaning set forth in the Recitals. 

1.290 “Patent” means (a) a patent or a patent application, (b) any additions, priority applications,
divisions, continuations, and continuations-in-part of any of the foregoing and (c) all patents issuing on any of the foregoing patent applications, together with
all invention certificates, substitutions, reissues, reexaminations, registrations, supplementary protection certificates, confirmations, renewals and extensions of any of (a), (b) or (c), and foreign counterparts of any of the foregoing. 

1.291 “Patent and Trademark Expenses” has the meaning set forth in the Financial Definitions Exhibit. 

1.292 “Patent Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.293 “Payment” has the meaning set forth in Section 5.5. 

1.294 “PCV” means [***]. 

1.295 “PCV Cessation Net Profit Share” has the meaning set forth in Exhibit E. 

1.296 “PCV Clinical Supply Agreement” has the meaning set forth in Section 6.2(d). 

  
 22 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.297 “PCV Participation Election Payment” has the meaning
set forth in Section 9.3(a)(i). 
 1.298 “PCV POC Program” has the meaning set forth in
Section 3.1(a). 
 1.299 “PCV POC Term” has the meaning set forth in Section 3.2(a) 

1.300 “PCV Program” means the Research, Development and Manufacture of PCVs (including Collaboration PCV
Products) in accordance with the POC Plan for PCVs, and if Merck exercises the applicable Merck Participation Election, the further Research of PCVs (including Collaboration PCV Products) in accordance with an Additional Research Plan, and the
Development, Manufacture and Commercialization of Collaboration PCV Products by or on behalf of one or more of the Parties under the Collaboration in accordance with this Agreement. For clarity, the PCV Program shall be separate from each SAV
Program. 
 1.301 [***]. 

1.302 “Permitted In-License” has the meaning set forth in
Section 1(d) of Exhibit F. 
 1.303 [***] 

1.304 “Person” means any individual, partnership, joint venture, limited liability company, corporation, firm,
trust, association, unincorporated organization, governmental authority or agency, or any other entity not specifically listed herein. 

1.305 “Pharmacovigilance Agreement” has the meaning set forth in Section 7.3. 

1.306 “Phase I Clinical Study” shall mean a human clinical trial in any country that would satisfy the
requirements of 21 CFR 312.21(a). 
 1.307 “Phase II Clinical Study” shall mean a human clinical trial in
any country that would satisfy the requirements of 21 CFR 312.21(b). 
 1.308 “Phase III Clinical Study”
shall mean a human clinical trial in any country that would satisfy the requirements of 21 CFR 312.21(c). 
 1.309
“Phase IV Clinical Study” means (i) any human clinical trial (other than a Phase I Clinical Study, Phase II Clinical Study or Phase III Clinical Study) in any country which is conducted on a product after Regulatory Approval of
such product has been obtained from an appropriate Regulatory Authority, and includes clinical trials conducted voluntarily after Regulatory Approval for enhancing marketing or scientific knowledge of an approved indication or (ii) any REMS/RMP
related study of a product after Regulatory Approval. 
 1.310 “Plans” means, with respect to a given
Program, the Internal SAV Program Plan, the POC Plan, the Joint Development Plan and Budget and the Global Commercialization Plan for such Program. 

1.311 [***] 

  
 23 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.312 [***] 

1.313 “POC Committee” has the meaning set forth in Section 2.3(a). 

1.314 “POC Data Package” means, with respect to a given Program, the data package of data and information to
be generated and collected under a POC Plan for such Program, which data package will in any event include: [***]; provided that with respect to an SAV POC Program, [***]. 

1.315 “POC Lead Regulatory Party” means, for a given POC Program, [***]. 

1.316 [***] 

1.317 “POC Plan” has the meaning set forth in Section 3.3(a). 

1.318 “POC Pharmacovigilance Agreement” has the meaning set forth in Section 3.4(m). 

1.319 “POC Program” has the meaning set forth in Section 3.1(c)(iv). 

1.320 “POC Program Costs for the PCV Program” means, with respect to the PCV Program, the internal costs
(i.e., FTE Costs) and Out-of-Pocket Costs actually incurred by or on behalf Moderna (or its Affiliates) and that are [***] to the conduct of the POC Plan for the
PCV Program, including: 
 (a) [***] 

(b) [***] 

(c) [***] 

(d) [***] 

(e) [***] 

(f) [***] 

(g) [***] 

With respect to the foregoing, any internal costs shall be calculated based on the number of FTEs used to perform the
applicable activity multiplied by the FTE Rate. 
 1.321 “POC Term” has the meaning set forth in
Section 3.2(b). 
 1.322 “Post-Marketing Study” means a
non-human pre-clinical study or human Clinical Study of a product initiated after receipt of Regulatory Approval for such product in a country or territory, which is
required by the Regulatory Authority in such country or territory to maintain the Regulatory Approval for such product in such country or territory. 

  
 24 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.323 “Pre-Existing
Restriction” means [***]. 
 1.324 “Pre-GLP Tox Commitment
Date” means, with respect to a given Internal SAV Program, the earlier of (a) the date of the ISP Party’s selection of a Lead SAV Candidate for such Internal SAV Program, or (b) the effective date of expiration or termination
of the SAV Research Term. 
 1.325 “Pre-GLP Tox Data Package” means,
with respect to a given Internal SAV Program, the data package of data and information to be generated and collected for such Internal SAV Program, which data package will in any event include [***]. 

1.326 “Pre-GLP Tox Election” has the meaning set forth in
Section 3.1(d)(iv). 
 1.327 “Pre-GLP Tox Election Date” means,
with respect to a given Internal SAV Program, the date of the Pre-GLP Tox Election Notice for such Internal SAV Program. 

1.328 “Pre-GLP Tox Election Notice” has the meaning set forth in
Section 3.1(d)(v). 
 1.329 “Pricing Matters” means all issues and decisions regarding (a) price,
price terms and other contract terms with respect to Collaboration Product sales, including discounts, rebates, other price concessions and service fees to payors and purchasers and (b) reimbursement programs applicable to a Collaboration
Product. 
 1.330 “Primary POC PCV Funding Amount” has the meaning set forth in Section 3.4(g)(i)(2).

 1.331 “Product Specific Manufacturing Variances” has the meaning set forth in the Financial Definitions
Exhibit. 
 1.332 “Profit & Loss Share” has the meaning set forth in
Section 9.3(b). 
 1.333 “Profitability Date” has the meaning set forth in the Financial Definitions
Exhibit. 
 1.334 “Program” means the PCV Program or any SAV Program (including the KRAS Program), as
applicable. 
 1.335 “Program Directors” has the meaning set forth in Section 2.2. 

1.336 “Promotional Materials” means all sales representative training materials and all written, printed,
graphic, electronic, audio or video matter, including journal advertisements, sales visual aids, leave-behind items, formulary binders, reprints, direct mail,
direct-to-consumer advertising, internet postings and sites and broadcast advertisements intended for use or used by or on behalf of either Party or their respective
Affiliates in connection with any promotion of a Collaboration Product. 
 1.337 “Prosecution and
Maintenance” means, with regard to a particular Patent or claim within a Patent, the preparation, filing, prosecution and maintenance of such Patent or claim, as well as re-examinations, reissues and
the like with respect to such Patent or claim, together with the conduct of interferences, the defense of oppositions and other similar proceedings with respect to such Patent or claim. The term “Prosecute and Maintain” shall have a
corresponding meaning. 

  
 25 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.338 “Providers” has the meaning set forth in
Section 5.2. 
 1.339 “Qualification Standards” means the customary, reasonable standards and criteria
to be applied [***]. 
 1.340 “Quality Agreements” means the Clinical Quality Agreement(s) and the
Commercial Quality Agreement(s). 
 1.341 [***] 

1.342 “Receiving Party” has the meaning set forth in Section 12.1(a). 

1.343 “Reconciliation Report” has the meaning set forth in Exhibit D. 

1.344 “Registrational Study” means, with respect to the United States, a Clinical Study of a product on
sufficient numbers of patients that is designed to establish that such product is safe and efficacious for its intended use, and to define warnings, precautions and adverse reactions that are associated with such product in the dosage range to be
prescribed, and to support Regulatory Approval of such product or label expansion of such product, as described under 21 C.F.R. §312.21(c), or, with respect to a jurisdiction other than the United States, an equivalent clinical trial. 

1.345 “Regulatory Approval” means, with respect to a country or extra-national territory, any and all
approvals (including NDAs), licenses, registrations or authorizations of any Regulatory Authority necessary in order to commercially distribute, sell or market a product in such country or some or all of such extra-national territory, including any
pricing or reimbursement approvals. 
 1.346 “Regulatory Authority” means any national (e.g., the
FDA), supra-national (e.g., the EMA), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity, in any jurisdiction in the world, involved in the granting of Regulatory Approval or
otherwise involved in regulating the Research, Development, Manufacture or Commercialization of a product. 
 1.347
“Regulatory Filing” means any submission to a Regulatory Authority, including all applications, registrations, licenses, authorizations and approvals (including Regulatory Approvals), together with any related correspondence and
documentation 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 and all clinical studies and tests,
relating to a product and all data contained in any of the foregoing, including all INDs, NDAs, CTAs, regulatory drug lists, advertising and promotion documents, Clinical Data, Adverse Event files and complaint files, and include any submission to a
regulatory advisory board, marketing authorization application, and any supplement or amendment thereto. 

  
 26 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.348 “Relative Commercial Value” has the meaning set forth
in Exhibit C. 
 1.349 “Release” has the meaning set forth in Section 12.3(c). 

1.350 “Released Target” means [***]. 

1.351 [***] 

1.352 “Research” means activities related to the design, discovery, identification, research, pre-clinical development, preclinical toxicology studies, profiling, characterization, improvement or optimization of a product. For clarity, “Research” excludes Development, Commercialization or
Manufacturing activities. The term “Researched” has a corresponding meaning.  

1.353 [***] 

1.354 “Reviewing Party” has the meaning set forth in Section 12.3(c). 

1.355 “Right of Reference” means the “right of reference” defined in 21 CFR 314.3(b), including,
with respect to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by reference or otherwise) contained in Regulatory Filings (and any data contained therein)
filed with such Regulatory Authority with respect to such Party’s product, only to the extent necessary for the conduct of Research, Development, Manufacturing or Commercialization activities for such product in such country or as otherwise
expressly permitted or required under this Agreement to enable the other Party to exercise its rights or perform its obligations hereunder. 

1.356 “Safety Issue” means, with respect to a given Collaboration Product or Other Component used in
combination with such Collaboration Product: [***]. 
 1.357 “SAV” means a messenger RNA-based therapeutic cancer vaccine intended to treat multiple patients and [***], including [***] but excluding PCVs. 

1.358 “SAV Cessation Net Profit Share” has the meaning set forth in Exhibit E. 

1.359 “SAV Clinical Supply Agreement” has the meaning set forth in Section 6.2(e). 

1.360 “SAV IND Data Package” means, for a given Joint SAV Program (other than the KRAS Program), an
information package regarding the SAVs for such Joint SAV Program that is submitted by Moderna to Merck following completion of the IND-Enabling Studies for the SAVs for such Joint SAV Program, which includes
[***]. 
 1.361 “SAV Participation Election Payment” has the meaning set forth in Section 9.3(a)(ii).

 1.362 “SAV POC Program” has the meaning set forth in Section 3.1(c)(iv). 

1.363 “SAV POC Term” has the meaning set forth in Section 3.2(b). 

  
 27 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.364 “SAV Program” means (a) a Joint SAV Program or
(b) an Internal SAV Program. For clarity, a given SAV Program will be separate from each other SAV Program, and each SAV Program shall also be separate from the PCV Program. If agreed to by the Parties, a given SAV Program may include more than
one Target. 
 1.365 “SAV Research Term” means the period from the Amended Effective Date until the earlier
of [***]. 
 1.366 [***] 

1.367 “SAV Target” means (a) for the KRAS Program, KRAS, or (b) for any other Joint SAV Program, any
Target(s) (other than KRAS) that the Parties mutually agree to include in such Joint SAV Program pursuant to the POC Plan for such Joint SAV Program. 

1.368 “SAV Target Notice” has the meaning set forth in Section 3.1(c)(i). 

1.369 “SEC” has the meaning set forth in Section 12.3(b). 

1.370 “Selling Expenses” has the meaning set forth in the Financial Definitions Exhibit. 

1.371 “Selling Party” means with respect to a Party, such Party and its Affiliates and Sublicensees, except as
otherwise provided in Exhibit D or Exhibit E. 
 1.372 [***] 

1.373 “Serious Adverse Event” or “SAE” means any untoward medical occurrence that at any
dose: results in death, is life-threatening, requires inpatient hospitalization or prolongation of existing hospitalization, results in persistent or significant disability/incapacity or, is a congenital anomaly/birth defect. Medical and scientific
judgment should be exercised in deciding whether expedited reporting is appropriate in other situations, such as important medical events that may not be immediately life-threatening or result in death or hospitalization but may jeopardize the
patient or may require intervention to prevent one of the other outcomes listed in the definition above. These should also usually be considered serious. Examples of such events are intensive treatment in an emergency room or at home for allergic
bronchospasm; blood dyscrasias or convulsions that do not result in hospitalization; or development of drug dependency or drug abuse or transmission of an infectious agent via a medicinal product. 

1.374 “Shared Collaboration Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.375 “Shared Commercialization and Related Manufacturing Costs” has the meaning set forth in the Financial
Definitions Exhibit. 
 1.376 “Shared Costs Report” has the meaning set forth in Exhibit D. 

1.377 “Shared Development and Related Manufacturing Costs” has the meaning set forth in the Financial
Definitions Exhibit. 
 1.378 “Shared Neoepitope(s)” means [***]. 

  
 28 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.379 “Shared Losses” has the meaning set forth in the
Financial Definitions Exhibit. 
 1.380 “Shared Profits” has the meaning set forth in the Financial
Definitions Exhibit. 
 1.381 “Shared Profits or Losses” has the meaning set forth in the Financial
Definitions Exhibit. 
 1.382 “Significant Third Party” has the meaning set forth in Section 15.3. 

1.383 “Software” means any and all computer programs, operating systems, applications, firmware, middleware,
or software of any nature, whether operational, under development or inactive including all object code, source code, comment code, algorithms, tools, build, underlying components thereof, menu structures and arrangements, icons, operational
instructions, scripts, commands, syntax, screen designs, reports, designs, concepts, technical manuals, test scripts, user manuals and other documentation therefor, whether in machine-readable form, programming language or any other language or
symbols, and whether stored, encoded, recorded or written on disk, tape, film, memory device, paper or other media of any nature and all databases necessary or appropriate to operate any such computer programs, operating systems, applications,
firmware, middleware, or software. 
 1.384 “[***]” means [***]. 

1.385 “Special Arbitration” has the meaning set forth in Section 15.1(c). 

1.386 “Sublicense Income” means all consideration (including upfront payments, license fees, royalties and
milestone payments) [***] by a Selling Party [***], net of out-of-pocket expenses of a Selling Party incurred in connection with such [***]. 

1.387 “Sublicensee” means any Person that is granted a sublicense as permitted by Section 10.3, either
directly by a Party or indirectly by any other Sublicensee (including any Affiliate that is granted a sublicense hereunder but excluding, for clarity, any Distributors). 

1.388 “Supply Agreement” means any supply agreement entered into by the Parties pursuant to Section 6
(including the PCV Clinical Supply Agreement, SAV Clinical Supply Agreement and any Commercial Supply Agreement). For clarity, the 2016 CSA is not a Supply Agreement. 

1.389 “Supply Failure” means, with respect to the given PCV Clinical Supply Agreement, SAV Clinical Supply
Agreement, Commercial Supply Agreement or Exhibit K, the meaning given to such term in such PCV Clinical Supply Agreement, SAV Clinical Supply Agreement, Commercial Supply Agreement or Exhibit K, as applicable, for an event or
circumstance, [***]. 
 1.390 “Target” means [***]. 

1.391 “Tax” and “Taxation” means any form of tax or taxation, levy, duty, charge or
withholding (including any related fine, penalty, addition to tax, surcharge or interest) imposed by, or payable to, a governmental authority. 

  
 29 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.392 “Technical Failure” means with respect to a given
Joint SAV Program, [***]. 
 1.393 “Term” has the meaning set forth in Section 14.1. 

1.394 “Territory” means worldwide. 

1.395 “Testing Costs” has the meaning set forth in the Financial Definitions Exhibit. 

1.396 “Third Party” means any Person other than Moderna, Merck and their respective Affiliates. 

1.397 “Third Party Agent” means any clinical-stage compound or marketed product controlled by a Third Party
(but not any [***]). 
 1.398 “Third Party Claims” has the meaning set forth in Section 13.6(a). 

1.399 “Transparency Report” has the meaning set forth in Section 3.4(k)(vii). 

1.400 “United States” or “U.S.” means the United States of America, including its territories
and possessions, the District of Columbia and Puerto Rico. 
 1.401 “U.S. GAAP Standard Cost” has the
meaning set forth in the Financial Definitions Exhibit. 
 1.402 “Upfront Payment” has the meaning set forth
in Section 9.1. 
 1.403 “Violation” means, with respect to a Party, such Party or any of its officers
or directors or any other personnel of such Party (or other permitted agents of such Party performing activities hereunder) has been: (a) convicted of any of the felonies identified among the exclusion authorities listed on the U.S. Department
of Health and Human Services, Office of Inspector General (OIG) website, including 42 U.S.C. 1320a-7(a) (http://oig.hhs.gov/exclusions/authorities.asp); (b) identified in the OIG List of Excluded
Individuals/Entities (LEIE) database (http://exclusions.oig.hhs.gov/) or listed as having an active exclusion in the System for Award Management (http://www.sam.gov); or (c) listed by any US Federal agency as being suspended, proposed for
debarment, debarred, excluded or otherwise ineligible to participate in Federal procurement or non-procurement programs, including under 21 U.S.C. 335a (http://www.fda.gov/ora/compliance_ref/debar/) (each of
(a), (b) and (c) collectively the “Exclusions Lists”). 
  

	2.	 COLLABORATION OVERVIEW; GOVERNANCE 

2.1 Overview of Collaboration. The Parties intend and have agreed to undertake the Collaboration under this Agreement
with the primary goal to Research, Develop, Manufacture and Commercialize Collaboration Products in accordance with the Collaboration with the goal of expanding and enhancing the value of such Collaboration Products, consisting, in general, of the
following major components: 

  
 30 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (a) a broad program to be conducted during the POC Term for the PCV Program
for the Research and Development of PCVs (including Collaboration PCV Products), pursuant to which Moderna will conduct Research and Development efforts with Merck’s participation with respect to such PCVs and establish Manufacturing
capabilities for Collaboration PCV Products, as described in the POC Plan for the PCV Program and further detailed in Section 3; 

(b) a broad program to be conducted during the POC Term for the KRAS Program, pursuant to which the Parties will conduct
Research and Development efforts with respect to SAVs Directed against KRAS (including Collaboration SAV Products Directed against KRAS) and identify Manufacturing capacity for such Collaboration SAV Products, as described in the POC Plan for the
KRAS Program and further detailed in Section 3; 
 (c) if during the SAV Research Term, the Parties do not agree to
collaborate on one or more additional Targets, then a Party and its Affiliates may conduct an Internal SAV Program, pursuant to which such Party and its Affiliates may conduct Research efforts with respect to one or more SAVs Directed against such
Target, as described in the Internal SAV Program Plan for such Internal SAV Program and further described in Section 3.1(d); 

(d) if during the SAV Research Term, the Parties mutually agree to collaborate on one or more additional SAV Targets (other
than KRAS) in accordance with Section 3.1(c), a broad program to be conducted during the POC Term for such Joint SAV Program, pursuant to which the Parties will conduct Research and Development efforts with respect to such SAVs Directed against
such SAV Target (including Collaboration SAV Products Directed against such SAV Target) and identify Manufacturing capacity for such Collaboration SAV Products, as described in the POC Plan for such Joint SAV Program and further detailed in
Section 3; 
 (e) for each given Program, Merck will have the right during the Merck Participation Election Period for
such Program to exercise the Merck Participation Election for such Program to further participate with Moderna in the further Research, Development, Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) with
respect to such Program, and to share equally the costs and benefits of, such Research, Development, Manufacture and Commercialization, subject to and in accordance with this Agreement; 

(f) for each given Program, if Merck exercises the Merck Participation Election for such Program, then, subject to Merck paying
the Participation Election Payment for such Program in accordance with Section 9.3(a), during the Merck Participation Term for such Program: 

(i) the Parties will conduct further Research and Development of mRNA Cancer Vaccines (including Collaboration Products) for
such Program through Regulatory Approval, with the activities to be jointly funded by the Parties in accordance with the terms of this Agreement; provided, however, that [***]; 

(ii) Merck shall have the sole right to Commercialize the Collaboration Products from such Program in the Territory (subject
to Moderna’s right to engage in Co-Promotion activities in the United States under and in accordance with Sections 8.5 and 8.6 and any Co-Promotion Agreement(s)); 

  
 31 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) the Parties will participate in profits or losses arising from the
Commercialization of such Collaboration Products, all as detailed and pursuant to Section 9; and 
 (iv) each Party
will grant appropriate cross-licenses to the other Party to Research, Develop, Manufacture and Commercialize such Collaboration Products pursuant to Section 10. 

(g) [***]. 

(i) During the SAV Research Term, the Parties may review and discuss the available Clinical Data that is generated in the
course of Developing Collaboration PCV Products to determine whether [***]. 
 (1) If, during the SAV Research Term, [***],
then the Parties may mutually agree to amend the applicable Plan to [***] in accordance with the Plan for such SAV Program. 

(2) If, during the SAV Research Term, [***], and the Parties wish to conduct Collaboration Activities for such [***], then the
Parties may mutually agree to initiate a new SAV Program with respect to such [***] in accordance with Section 3.1(c). 

(3) [***] 

(ii) From time to time after the end of the SAV Research Term and during any remaining portion of the Collaboration Term for
the PCV Program, the Parties may review and discuss the available Clinical Data that is generated in the course of Developing Collaboration PCV Products to determine whether [***]. During the discussion referenced above, a Party shall disclose to
the other Party if such Party (or any of its Affiliates) is engaged in a pre-existing bona fide active and sustained research, development or commercialization program (alone or with one or more Third
Parties) on any [***] based on [***]. 
 (1) If, after the end of the SAV Research Term and during any remaining portion of
the Collaboration Term for the PCV Program, a pre-existing bona fide active and sustained research, development or commercialization program with respect to an [***] based on [***], then following the
disclosure pursuant to clauses (ii) above in which the existence of such pre-existing program became known to both Parties, each Party shall [***]. 

(2) If, after the end of the SAV Research Term and during any remaining portion of the Collaboration Term for the PCV Program,
such [***], then the Parties may mutually agree to amend the applicable Plan to incorporate the Research, Development, Manufacture and Commercialization of [***] associated with [***] in accordance with the Plan for such [***]. 

(3) If, after the end of the SAV Research Term and during any remaining portion of the Collaboration Term for the PCV Program,
no such pre-existing program exists [***], at the written request of either Party, then any [***]s based on any such [***] shall automatically be treated [***], for so long as one or both of the Parties [***].

  
 32 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) For the avoidance of doubt, subject to this Section 2.1(g) and
Sections 10.7 and 10.8, nothing in this Agreement shall limit either Party’s (or its Affiliates’) ability to research, develop, manufacture or commercialize any [***], or grant licenses or otherwise enter into agreements with one or more
Third Parties for any of those activities. 
 2.2 Collaboration Management. Promptly after the Effective Date, each
Party will appoint a person who will oversee day-to-day contact between the Parties for all matters related to the management of the Collaboration Activities in between
meetings of the Committees and will have such other responsibilities as the Parties may agree in writing after the Effective Date. One person will be designated by Merck (the “Merck Program Director”) and one person will be
designated by Moderna (the “Moderna Program Director”) and together they will be the “Program Directors”. Each Party may replace its Program Director at any time by notice in writing to the other Party. Any
Program Director may designate a substitute to temporarily perform the functions of that Program Director by written notice to the other Party. Each Program Director also may serve as a representative of its respective Party on one or more
Committees. The initial Program Directors will be: 
 For Moderna: [***] 

For Merck: [***] 

2.3 POC Committee. 

(a) Formation and Membership. Pursuant to the Original Agreement, the Parties have established a joint committee to
oversee the POC Programs (the “POC Committee”), comprised of [***] representatives of Moderna (or its Affiliate) and [***] representatives of Merck (or its Affiliate). Each POC Committee member will be a senior development leader or
have similar experience and expertise as a senior development leader. Each Party may replace its representatives on the POC Committee at any time upon written notice to the other Party. With the consent of the other Party (such consent not to be
unreasonably withheld, delayed or conditioned), each Party may invite non-voting employees and consultants to attend meetings of the POC Committee, subject to their agreement to be bound to the same extent as
a permitted subcontractor under Section 10.4. 
 (b) Meetings. While in existence, the POC Committee will meet
[***] (or more frequently as may be determined by the POC Committee) and may hold meetings in person or by audio or video conference as determined by the POC Committee, but at a minimum, [***] of such meetings each Calendar Year will be in person
(which in-person meeting will be held at one of Moderna’s U.S. facilities, and the other held at Merck’s U.S. facilities). Meetings of the POC Committee will be effective only if at least [***]
representative of each Party is present or participating. Each Party will be responsible for all of its own expenses of participating in the meetings. The Parties will endeavor to schedule meetings of the POC Committee at least [***] months in
advance. The POC Committee will determine the POC Committee operating procedures, which shall in all cases be consistent with the terms of this Agreement, and will codify these operating procedures in the written minutes of the first meeting (or
subsequent meetings as such procedures are updated). The POC Committee will prepare and circulate a meeting agenda prior to each such meeting. For the purposes of this Section 2, “agenda” will include any relevant background
materials. The Parties will alternate in preparing written 

  
 33 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
minutes of such meeting, and the preparing Party will circulate such minutes within [***] days after such meeting. The Parties will agree on the minutes of each meeting promptly, but in no event
later than the next meeting of the POC Committee. Each Party will designate one (1) of its [***] representatives who is empowered by such Party to make decisions regarding issues within the purview of the POC Committee as set forth below in
Section 2.3(c) to act as the co-chair of each POC Committee. The co-chairs will be responsible for overseeing the activities of its POC Committee members consistent
with the responsibilities set forth in Section 2.3(c). 
 (c) Responsibilities. The POC Committee will discuss
the Parties’ performance of Collaboration Activities under the Internal SAV Program Plans and POC Plans. The POC Committee may form project teams to oversee any
day-to-day activities necessary to execute the POC Plans. Without limiting the generality of the foregoing, within such scope, the POC Committee will have the following
responsibilities: 
 (i) discuss an ISP Party’s performance of any Internal SAV Program under an Internal SAV Program
Plan; 
 (ii) review each Party’s performance of Collaboration Activities under the POC Plans; 

(iii) review any proposed modifications or amendments to a given POC Plan (including the Data Sharing and Sample Testing
Schedule included therein); 
 (iv) review and discuss any Additional Moderna PCV POC Term Studies conducted in accordance
with Section 3.3(d); 
 (v) resolve any disputes related to the Additional Moderna PCV POC Term Study contemplated in
Section 3.3(d); 
 (vi) prioritize and oversee execution of specific activities to be performed under each POC Plan;

 (vii) review and discuss amendments to the KRAS Transition Plan (provided that any amendments to the KRAS Transition Plan
must be mutually agreed to by the Parties in writing) and oversee the activities to be performed for the transition of the KRAS Program (including transfer of the IND) under the POC Plan and KRAS Transition Plan for the KRAS Program; 

(viii) review data, reports or other information submitted by either Party with respect to Collaboration Activities under each
Internal SAV Program Plan or POC Plan; 
 (ix) review and discuss any actual or potential Safety Issue or Technical Failure;

 (x) review and discuss any Pre-GLP Tox Data Package for a given Internal SAV
Program; 

  
 34 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (xi) review and discuss any SAV IND Data Package for a given Joint SAV
Program; 
 (xii) form such other subcommittees or project teams as the POC Committee may deem appropriate (including any
project teams to oversee the day-to-day activities necessary to execute the POC Plans) and oversee the activities of any subcommittees or project teams formed by the POC
Committee, including by receiving and reviewing reports and other information submitted by those subcommittees or project teams (if applicable); provided, that any such subcommittee or project team may make recommendations to the POC
Committee but may not be delegated POC Committee decision-making authority; 
 (xiii) [***]; 

(xiv) coordinate and oversee the Manufacturing activities under a POC Plan with respect to PCVs (including Collaboration PCV
Products) under the applicable Programs in the Territory, including CMC matters; 
 (xv) review and discuss Manufacturing
activities under a POC Plan with respect to SAVs (including Collaboration SAV Products) under the applicable Joint SAV Program in the Territory, including CMC matters; 

(xvi) discuss and resolve all disputes referred to the POC Committee by any subcommittee or project teams established by the
POC Committee; 
 (xvii) review proposed publications regarding the results of the Collaboration Activities proposed to be
published in accordance with Section 12.2; and 
 (xviii) attempt to resolve any disputes relating to this Agreement on
an informal basis. 
 (d) Decision-making. The [***] POC Committee representatives of each Party will collectively
have one (1) vote (i.e., all representatives of a Party vote as a single block). The POC Committee members will use diligent efforts to reach agreement on all matters. If, despite such efforts, agreement on a particular matter cannot be
reached by the POC Committee within [***] days after the POC Committee first considers such matter (or such shorter time as may be reasonable in the circumstances), then upon the written request of a Party, such matter will be referred to the
Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good faith to resolve such dispute by negotiation and consultation for a [***] day period following
receipt of such written notice. If, despite such efforts, agreement on a particular matter cannot be reached by the Executive Officers within such [***] day period, then with respect to the applicable POC Program (i) if such matter relates to
[***] such matter shall be determined by Moderna, in good faith and its sole discretion after due and reasonable consideration of Merck’s position, (ii) if such matter relates to [***], such matter shall be determined by Merck, in good
faith and its sole discretion after due and reasonable consideration of Moderna’s position [***] (iv) for any other matter, such matter shall be resolved in accordance with the provisions of Section 15.1(c); provided that the Amended
Anticipated PCV POC Budget (including any component thereof) may not be modified without the written consent of the Parties. 

  
 35 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (e) POC Committee Term. The POC Committee will cease to exist upon the
later of (i) the expiration or termination of all Merck Participation Election Periods or (ii) the expiration of the SAV Research Term. 

2.4 Joint Steering Committee. Upon the first exercise of a Merck Participation Election, then within thirty
(30) days after the Merck Participation Election Date, the Parties will establish a joint steering committee (the “Joint Steering Committee” or “JSC”). During the Merck Participation Term for a given Program,
the JSC will oversee and facilitate Research activities under any Additional Research Program and the Development, Manufacturing and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) for such Program. For clarity, the JSC
will not have any responsibilities regarding, or oversight of, activities under the POC Plan for a given Program. 
 (a)
Composition of the Joint Steering Committee. The Joint Steering Committee shall be comprised of [***] representatives of Merck and [***] representatives of Moderna. Each Party may change its representatives to the Joint Steering Committee
from time to time in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have appropriate technical credentials, experience and knowledge, and ongoing familiarity with the Collaboration
Activities. With the consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), each Party may invite non-voting employees and consultants to attend meetings of the
Joint Steering Committee, subject to their agreement to be bound to the same extent as a permitted subcontractor under Section 10.4. The JSC may change its size from time to time by mutual consent of its members; provided that the JSC will
consist at all times of an equal number of representatives of each of Merck and Moderna. Each Party will designate one of its representatives who is empowered by such Party to make decisions regarding issues within the purview of the Joint Steering
Committee to act as the co-chair of the Joint Steering Committee. The co-chairs will be responsible for overseeing the activities of its Joint Steering Committee members
consistent with the responsibilities set forth in this Section 2.4. 
 (b) Function and Powers of the Joint Steering
Committee. During the Merck Participation Term for a given Program, the Joint Steering Committee shall have general strategic oversight of the Collaboration for such Program, and shall confer regarding the status of the Additional Research Plans
and the Development Plans and the Research, Development, Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) for such Program. Without limiting the generality of the foregoing, the JSC shall have the
following specific responsibilities during the Merck Participation Term for a given Program: 
 (i) review and discuss the
Joint Development Plan and Budget for such Program and all amendments thereto, and approve any such amendments for the Joint Development Plan and Budget for the PCV Program and annual budget updates for the Joint Development Plan and Budget for any
Program in accordance with Section 4.3(c)(ii), including to determine the resources and activities allocated by each Party thereto (which resources and activities will be set forth in the Joint Development Plan and Budget for such Program);

 (ii) review and approve the Development Transition Plan for such Program; 

  
 36 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) review and comment on any Independent Additional Study Development
Plan for such Program; 
 (iv) review and approve the Global Commercialization Plan, Global Commercialization Budget and
global Commercialization strategy for such Program pursuant to Section 8.3; 
 (v) [***]; 

(vi) review, discuss and coordinate the Parties’ scientific presentation and publication strategy relating to the
Collaboration Products in the Territory for such Program in accordance with Section 12.2; 
 (vii) [***] 

(viii) review and approve any Additional Research Program(s) for such Program proposed by either Party; 

(ix) oversee Research activities conducted pursuant to any Additional Research Plan for such Program; 

(x) review and discuss any actual or potential Safety Issue with respect to any Collaboration Product or any Other Component
used in a Combination Product; 
 (xi) provide guidance to the JDC, JMC or JCC and attempt to resolve issues for such
Program presented to it by any other Committee; and 
 (xii) perform such other functions as may be expressly delegated to
the JSC pursuant to this Agreement. 
 (c) Joint Steering Committee Decision-Making. Decisions of the Joint
Steering Committee shall be made unanimously with each Party having one (1) vote (i.e., all representatives of a Party must vote as a single block). The Joint Steering Committee members will use diligent efforts to reach agreement on all
matters. If, despite such efforts, agreement on a particular matter cannot be reached by the Joint Steering Committee within [***] days after the Joint Steering Committee first considers such matter (or such shorter time as may be reasonable in the
circumstances), then upon the written request of a Party, such matter will be referred to the Executive Officers (or their designees, which designee is required to have decision-making authority on behalf of such Party), who will attempt in good
faith to resolve such dispute by negotiation and consultation for a [***] day period following receipt of such written notice. If, despite such efforts, agreement on a particular matter cannot be reached by the Executive Officers within such [***]
day period, then the matter shall be resolved in accordance with the provisions of Section 15.1(c); provided, that: 

(i) [***], such matter shall be determined by Merck, in good faith and its sole discretion after due and reasonable
consideration of Moderna’s position; 

  
 37 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) [***], such matter shall be determined by Moderna, in good faith and
its sole discretion after due and reasonable consideration of Merck’s position; 
 (iii) [***], such matter shall be
determined by Merck, in good faith and its sole discretion after due and reasonable consideration of Moderna’s position; 

(iv) [***], then such matter shall be determined by Moderna, in good faith and its sole discretion after due and reasonable
consideration of Merck’s position; 
 (v) [***], such matter shall be determined by Merck, in good faith and its sole
discretion after due and reasonable consideration of Moderna’s position; provided, however, (A) decisions with respect to [***] shall be in accordance with [***] (B) with respect to the [***], Merck shall [***]; 

(vi) [***], such matter shall be determined by Merck, in good faith and its sole discretion after due and reasonable
consideration of Moderna’s position; and 
 (vii) the budget within a Joint Development Plan and Budget for the
applicable Program, Global Commercialization Budget or the budget within an Additional Research Plan may not be increased without the written consent of the Parties. 

(d) Joint Steering Committee Meetings. The Joint Steering Committee shall meet in accordance with a schedule established
by mutual written agreement of the Parties, but no less than [***] per Calendar Quarter, unless the Parties mutually agree in writing to a different frequency, with the location for such meetings alternating between Moderna and Merck facilities (or
such other location as may be determined unanimously by the Joint Steering Committee members). Alternatively, the Joint Steering Committee may meet by means of teleconference, videoconference or other similar communications equipment. Each Party
shall bear its own expenses related to the attendance of such meetings by its representatives. 
 (e) Joint Steering
Committee Agendas. The co-chairs of the Joint Steering Committee shall be responsible for distributing an agenda for each Joint Steering Committee meeting at least [***] days in advance of such meeting.
Each Party shall have the right to request that the chairs include any appropriate matter (i.e., additional topics) on the agenda, which requests shall be accommodated by the chairs. 

(f) Joint Steering Committee Minutes. The co-chairs shall be responsible for
generating and issuing reasonably detailed minutes of each Joint Steering Committee meeting that reflect material decisions made and action items identified at such meeting, and will circulate such minutes to the Joint Steering Committee
representatives of each Party for review within [***] days after such meeting. Any corrections or comments to such minutes must be provided to the co-chair within [***] days after the draft minutes are issued,
who shall then issue the approved (or, if no comments are provided within such [***] day period, deemed approved) minutes in final form to the Joint Steering Committee representatives of each Party. 

  
 38 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.5 Joint Development Committee or JDC. Upon the first exercise
of a Merck Participation Election, then within [***] days after the Merck Participation Election Date, the Parties will establish a joint development committee (the “Joint Development Committee” or “JDC”).
During the Merck Participation Term for a given Program, the JDC will oversee the conduct of the Development of Collaboration Products. For clarity, the JDC will not have any responsibilities regarding, or oversight of, activities under the POC Plan
for a given Program. 
 (a) Composition of the JDC. The JDC shall comprise [***] representatives of Merck and
[***] representatives of Moderna. Each Party may change its representatives to the JDC from time to time in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have expertise and operational
responsibilities for Development and/or registration of pharmaceutical products. With the consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), each Party may invite
non-voting employees and consultants to attend meetings of the JDC, subject to their agreement to be bound to the same extent as a permitted subcontractor under Section 10.4. The JDC may change its size
from time to time by mutual consent of its members; provided that the JDC will consist at all times of an equal number of representatives of each of Merck and Moderna. The JDC shall be chaired by a representative of Merck. The chair shall have the
responsibilities set forth in Section 2.5(e), but shall have no additional powers or rights beyond those held by the other JDC representatives. 

(b) Function and Powers of the JDC. During the Merck Participation Term for a given Program, without limiting the
generality of this Section 2.5, the JDC shall oversee and facilitate the conduct of the Development of Collaboration Products during the Merck Participation Term for such Program, including to: 

(i) monitor and oversee the Development activities under the Development Plan, including timely sharing and discussion of any
material results or events relating to such Development activities and discussion of any anticipated cost overruns; 
 (ii)
oversee the conduct of and monitor progress of any Clinical Studies under the Joint Development Plan and Budget for such Program; 

(iii) decide whether and when to initiate or discontinue any Clinical Study under the Joint Development Plan and Budget for
such Program; 
 (iv) facilitate the flow of information between the Parties with respect to the Development of
Collaboration Products for such Program; 
 (v) discuss and review the overall strategy regarding Regulatory Approval of
Collaboration Products in the Territory for such Program; 
 (vi) provide a forum for discussion of any regulatory related
activities and maintenance of INDs or CTAs for Collaboration Products and initial Regulatory Approvals for Collaboration Products for such Program; 

(vii) review the Development Transition Plans for such Program; 

(viii) coordinate with the JMC regarding enrollment for Clinical Studies for Collaboration Products, including the forecast
for Manufacturing capacity and the applicable enrollment rate; 

  
 39 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ix) discuss any Additional Study(ies) proposed by either Party for such
Program; and 
 (x) until the formation of the JCC, discuss, when available to Merck, the applicable and relevant components
of the initial Global Commercialization Plan for such Program; provided that for clarity, the JDC will not oversee the Commercialization activities with respect to Collaboration Products, and such Commercialization activities shall be under the
purview of the JCC, as, and to the extent, applicable. 
 (c) Joint Development Committee Decision-Making. Decisions
of the Joint Development Committee shall be made unanimously with each Party having one vote (i.e., all representatives of a Party must vote as a single block). In the event that the Joint Development Committee cannot or does not, after good
faith efforts during a period of not more than [***] days, reach agreement on an issue that comes before the JDC and over which the JDC has oversight, then such matter shall be raised to the JSC for resolution in accordance with Section 2.4(c).

 (d) JDC Meetings. The JDC shall meet in accordance with a schedule established by mutual written agreement of the
Parties, but no less frequently than [***] per Calendar Quarter, with the location for such meetings alternating between Moderna and Merck facilities (or such other location as may be determined unanimously by the JDC members). Alternatively, the
JDC may meet by means of teleconference, videoconference or other similar communications equipment. Each Party shall bear its own expenses related to the attendance of such meetings by its representatives. 

(e) JDC Agendas. The chair of the JDC shall be responsible for distributing an agenda for each committee meeting at
least [***] days in advance of such meeting. Each Party shall have the right to request the chair to include any matter on the agenda, which requests shall be accommodated by the chair. 

(f) JDC Minutes. The chair shall be responsible for generating and issuing reasonably detailed minutes of each JDC
meeting, which shall include a summary of any actions agreed at the meeting and will circulate such minutes to the JDC representatives of each Party for review within [***] days after such meeting. Any corrections or comments to such minutes must be
provided to the chair within [***] days after the draft minutes are issued, who shall then issue the approved (or, if no comments are provided within such [***] day period, deemed approved) minutes in final form to the JDC representatives of each
Party. 
 2.6 Joint Manufacturing Committee or JMC. Upon the exercise of the Merck Participation Election for the
first Program, then within [***] days after the Merck Participation Election Date, subject to the oversight of, and without limiting the authority of, the Joint Steering Committee, the Parties will establish a committee to oversee and facilitate the
Manufacturing of Collaboration Products for the Programs. For clarity, the JMC will not have any responsibilities regarding, or oversight of, activities under the POC Plan for a given Program. 

  
 40 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (a) Composition of the Joint Manufacturing Committee. The joint
manufacturing committee (the “Joint Manufacturing Committee” or “JMC”) shall comprise [***] representatives of Merck and [***] representatives of Moderna. Each Party may change its representatives to the JMC from
time to time in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have appropriate technical credentials, experience and knowledge, and ongoing familiarity with Manufacturing activities. With
the consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), each Party may invite non-voting employees and consultants to attend meetings of the JMC, subject to their
agreement to be bound to the same extent as a permitted subcontractor under Section 10.4. The JMC may change its size from time to time by mutual consent of its members; provided that the JMC will consist at all times of an equal number of
representatives of each of Merck and Moderna. The JMC shall be chaired by a representative of [***]. The chair shall have the responsibilities set forth in Section 2.6(e) but shall have no additional powers or rights beyond those held by other
JMC representatives. 
 (b) Function and Powers of the JMC. Without limiting the generality of this Section 2.6,
the JMC shall oversee and facilitate the Manufacturing of Collaboration Products for a Program during the Merck Participation Term for such Program, including to: 

(i) coordinate and oversee the Manufacturing activities under this Agreement with respect to Collaboration Products in the
Territory in accordance with any Supply Agreement (as applicable), including CMC matters; 
 (ii) discuss and coordinate
with the JDC to allocate appropriate amounts from the applicable budgets to Manufacturing activities; 
 (iii) [***] 

(iv) coordinate with the JDC regarding enrollment for Clinical Studies for Collaboration Products under the applicable
Programs, including [***] and the applicable enrollment rate; 
 (v) coordinate with the JCC regarding Manufacturing of
Collaboration Products under the applicable Programs for Commercialization, including [***]; 
 (vi) [***]; and 

(vii) discuss, coordinate and plan for Manufacturing technology transfers as set forth in Section 6.2(f), a Supply
Agreement, [***] (as applicable). 
 (c) Joint Manufacturing Committee Decision-Making. Decisions of the Joint
Manufacturing Committee shall be made unanimously with each Party having one vote (i.e., all representatives of a Party must vote as a single block). In the event that the Joint Manufacturing Committee cannot or does not, after good faith
efforts during a period of not more than [***] days, reach agreement on an issue that comes before the JMC and over which the JMC has oversight, then such matter shall be raised to the JSC for resolution in accordance with Section 2.4(c). 

(d) JMC Meetings. The JMC shall meet [***], or more frequently as the Parties may agree, in accordance with a schedule
established by mutual written agreement of the Parties, with the location for such meetings alternating between Moderna and Merck facilities (or such other location as may be determined unanimously by the JMC members). Alternatively, the JMC may
meet by means of teleconference, videoconference or other similar communications equipment. Each Party shall bear its own expenses related to the attendance of such meetings by its representatives. 

  
 41 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (e) JMC Agendas. The chair of the JMC shall be responsible for
distributing an agenda for each JMC meeting at least [***] days in advance of such meeting. Each Party shall have the right to request the chair to include any appropriate matter on the agenda, which requests shall be accommodated by the chair. The
chair shall be responsible for generating and issuing minutes, in accordance with Section 2.6(f), of each JMC meeting, which shall include a summary of any actions agreed at the meeting. 

(f) JMC Minutes. The chair shall be responsible for generating and issuing reasonably detailed minutes of each JMC
meeting, which shall include a summary of any actions agreed at the meeting and will circulate such minutes to the JMC representatives of each Party for review within [***] days after such meeting. Any corrections or comments to such minutes must be
provided to the chair within [***] days after the draft minutes are issued, who shall then issue the approved (or, if no comments are provided within such [***] day period, deemed approved) minutes in final form to the JMC representatives of each
Party. 
 2.7 Joint Commercialization Committee or JCC. Upon the first exercise of a Merck Participation Election,
then within [***] days after the Merck Participation Election Date, subject to the oversight of, and without limiting the authority of, the Joint Steering Committee, the Parties hereby establish a joint commercialization committee (the
“Joint Commercialization Committee” or “JCC”). During the Merck Participation Term for a given Program, the JCC will oversee and facilitate the Commercialization of Collaboration Products for such Program as
follows: 
 (a) Composition of the JCC. The JCC shall comprise [***] representatives of Merck and [***]
representatives of Moderna. Each Party may change its representatives to the JCC from time to time in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have appropriate technical credentials,
experience and knowledge, and ongoing familiarity with Commercialization activities. With the consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), each Party may invite
non-voting employees and consultants to attend meetings of the JCC, subject to their agreement to be bound to the same extent as a permitted subcontractor under Section 10.4. The JCC may change its size
from time to time by mutual consent of its members; provided that the JCC will consist at all times of an equal number of representatives of each of Merck and Moderna. The JCC shall be chaired by a representative of [***]. The chair shall have the
responsibilities set forth in Section 2.7(e) but shall have no additional powers or rights beyond those held by other JCC representatives. 

(b) Function and Powers of the JCC. During the Merck Participation Term for a given Program, without limiting the
generality of this Section 2.7, the JCC shall have the following specific responsibilities for such Program: 
 (i)
review and comment on the global Commercialization strategy for such Program; 

  
 42 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) review and comment on the Global Commercialization Plan for such
Program, including the Global Commercialization Budget; 
 (iii) as necessary, periodically request a review of the overall
commercial strategy for such Program, and request Merck prepare and submit an updated global Commercialization strategy for such Program for review by the JCC; 

(iv) discuss the Commercialization activities under the Global Commercialization Plan for such Program; 

(v) facilitate the flow of information between the Parties with respect to the Commercialization of Collaboration Products for
such Program; 
 (vi) review and discuss strategies with respect to Medical Affairs and Pricing Matters for Collaboration
Products in the Territory for such Program to the extent not prohibited by applicable Law; and 
 (vii) [***], coordinating Co-Promotion in the U.S. in accordance with the terms and conditions of this Agreement and the Co-Promotion Agreement for such Program. 

(c) Joint Commercialization Committee Decision-Making. Decisions of the Joint Commercialization Committee shall
be made unanimously with each Party having one vote (i.e., all representatives of a Party must vote as a single block). In the event that the Joint Commercialization Committee cannot or does not, after good faith efforts during a period of
not more than [***] days, reach agreement on an issue that comes before the JCC and over which the JCC has oversight, then such matter shall be raised to the JSC for resolution in accordance with Section 2.4(c). 

(d) JCC Meetings. The JCC shall meet [***], provided that as of and after the beginning of the Calendar Year immediately
preceding the anticipated First Commercial Sale of a Collaboration Product, the JCC shall meet [***] per Calendar Quarter, or more frequently as the Parties may agree, in accordance with a schedule established by mutual written agreement of the
Parties, with the location for such meetings alternating between Moderna and Merck facilities (or such other location as may be determined unanimously by the JCC members). Alternatively, the JCC may meet by means of teleconference, videoconference
or other similar communications equipment. Each Party shall bear its own expenses related to the attendance of such meetings by its representatives. 

(e) JCC Agendas. The chair of the JCC shall be responsible for distributing an agenda for each JCC meeting at least
[***] days in advance of such meeting. Each Party shall have the right to request the chair to include any matter on the agenda, which requests shall be accommodated by the chair. 

(f) JCC Minutes. The chair shall be responsible for generating and issuing reasonably detailed minutes of each JCC
meeting, which shall include a summary of any actions agreed at the meeting, and will circulate such minutes to the JCC representatives of each Party for review within [***] days after such meeting. Any corrections or comments to such minutes must
be provided to the chair within [***] days after the draft minutes are issued, who shall then issue the approved (or, if no comments are provided within such [***] day period, deemed approved) minutes in final form to the JCC representatives of each
Party. 

  
 43 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.8 Authority. Notwithstanding the foregoing, each Party will retain
the rights, powers and discretion granted to it under this Agreement and no such rights, powers, or discretion will be delegated to or vested in the applicable Committee unless such delegation or vesting of rights is expressly provided for in this
Agreement or the Parties expressly so agree in writing. No Committee will have the power to (a) amend, modify or waive compliance with this Agreement, (b) alter, increase or expand the Parties’ rights or obligations under this
Agreement beyond those explicitly set forth in this Agreement, (c) determine that a Party has fulfilled any obligations under this Agreement or that a Party has breached any obligation under this Agreement, (d) make a decision that is
expressly stated to require the Parties’ mutual agreement or a decision for which Merck or Moderna have final decision making authority, (e) change the Collaboration Activities in any manner that would alter the fundamental objectives of
the Collaboration Activities as described herein, or (f) impose additional costs or expenses on either Party beyond those explicitly set forth in this Agreement. Any dispute between the Parties regarding the issues set forth in this
Section 2.8 will be resolved pursuant to the procedures set forth in Section 15.1. 
 2.9 Interactions Between
the Committees and Personnel. The Parties recognize that each Party possesses an internal structure (including various committees, teams and review boards) that may be involved in administering such Party’s activities under this Agreement.
The JSC shall establish procedures to facilitate communications between the JSC and the relevant internal committee, team or board of each of the Parties in order to maximize the efficiency of the JSC and the performance of the Parties of their
respective obligations under this Agreement. 
 2.10 Amendment and Restatement. The Parties hereby agree and
acknowledge that this Agreement amends and restates the Original Agreement in its entirety and the Original Agreement is replaced with, and superseded by, this Agreement; provided that, for the avoidance of doubt, any activities conducted under the
Original Agreement shall be deemed to have been conducted under this Agreement. 
 3. PROGRAMS AND MERCK PARTICIPATION ELECTIONS 

3.1 Overview of Programs. 

(a) PCV POC Program. Subject to and in accordance with the terms of this Agreement, during the POC Term for the PCV
Program, Moderna will undertake Research and Development and such other activities as set forth in the POC Plan for the PCV Program with the goal of Researching and Developing PCVs (including Collaboration PCV Products) through the conduct of
preclinical studies and Clinical Studies with monotherapy PCVs (including Collaboration PCV Products) and Collaboration PCV Products in combination with Keytruda to create the POC Data Package for the PCV Program, all as more fully set forth in the
POC Plan for the PCV Program (the “PCV POC Program”). For clarity, as of the Amended Effective Date, Moderna consents to [***] in accordance with the POC Plan for the PCV Program; provided, however, that notwithstanding the
foregoing, [***]. 

  
 44 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) KRAS POC Program. Subject to and in accordance with the terms of
this Agreement and the KRAS Transition Plan, during the POC Term for the KRAS Program, the Parties will undertake Research and Development and such other activities as set forth in the POC Plan for the KRAS Program with the goal of Researching and
Developing SAVs (including Collaboration SAV Products) Directed against KRAS through the conduct of preclinical studies and Clinical Studies with monotherapy SAVs (including Collaboration SAV Products) Directed against KRAS and Collaboration SAV
Products in combination with Keytruda to create the POC Data Package for the KRAS Program, all as more fully set forth in the POC Plan for the KRAS Program (the “KRAS POC Program”). For clarity, (i) the Parties acknowledge and
agree that, as of the Amended Effective Date, [***], and (ii) Moderna consents to [***]. 
 (c) Other SAV
Programs. 
 (i) During the SAV Research Term, to the extent that either Party wishes to conduct Research and
Development for SAVs Directed against a Target (or multiple Targets), other than KRAS, that is not the subject of a then existing SAV Program, then such Party shall provide written notice to the other Party of each proposed Target(s) to be included
in a proposed SAV Program, which notice shall set forth [***] any Moderna Pre-Existing In-Licenses, Moderna New In-Licenses or
Merck In-Licenses, as applicable, relating to such proposed Target(s) (an “SAV Target Notice”). Notwithstanding the foregoing, an SAV Target Notice may not include [***]. 

(ii) If the Parties mutually agree in writing to the inclusion of a proposed Target(s), [***], then (A) each such Target
shall become an “SAV Target,” (B) the Parties shall conduct a “Joint SAV Program” for such SAV Target(s), and (C) the Parties shall promptly thereafter mutually prepare and approve in writing a POC Plan for a Joint SAV
Program for such SAV Target(s). Such POC Plan for such Joint SAV Program shall contain such other information as set forth in and be consistent with Section 3.3(b). For the avoidance of doubt, the Parties may agree to multiple separate POC
Plans for multiple Joint SAV Programs pursuant to this Section 3.1(c)(ii). 
 (iii) If the non-proposing Party does not approve the inclusion of a proposed Target in an SAV Target Notice, [***], it shall notify the proposing Party thereof in writing within [***] days of receipt of the applicable SAV
Target Notice. During the SAV Research Term, if Moderna [***] declines in writing to participate in a program for a Target(s) that is proposed by Merck pursuant to an SAV Target Notice pursuant to Section 3.1(c)(i), then Merck may elect, upon
written notice to Moderna within [***] after Moderna declines to participate in such program, to [***] (provided that [***]). 

(iv) During the POC Term for a given Joint SAV Program, subject to and in accordance with the terms of this Agreement, the
Parties will undertake Research and Development and such other activities as set forth in the applicable POC Plan for such Joint SAV Program (other than the KRAS Program, which is covered by the provisions of Section 3.1(b) above) with the goal
of Researching and Developing SAVs (including Collaboration SAV Products) Directed against such SAV Target under such POC Plan through the conduct of preclinical studies and Clinical Studies with [***] SAVs (including Collaboration SAV Products)
Directed against such SAV Target and, [***] (each, an “Other SAV POC Program”, and together with the KRAS POC Program, each an “SAV POC Program”). The PCV POC Program, KRAS POC Program and each Other SAV POC Program
shall each be referred to herein as a “POC Program”.  

  
 45 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Internal SAV Programs. 

(i) During the SAV Research Term, if a non-proposing Party reasonably declines in
writing to participate in a program for a Target(s) that is proposed pursuant to an SAV Target Notice in accordance with Section 3.1(c)(iii), or fails to respond in writing to the proposing Party within [***] days of receipt of the applicable
SAV Target Notice, then the proposing Party may elect, in its sole discretion, to provide written notice, within [***] days after the date that the non-proposing Party declines in writing to participate (or
fails to respond, as applicable), to the non-proposing Party to conduct an Internal SAV Program for such proposed Target(s), and (A) upon the date of such written notice, the proposing Party shall conduct
an “Internal SAV Program” for such Target(s) and shall be the “ISP Party” for such Internal SAV Program, (B) the ISP Party shall promptly thereafter (and in any event within [***] days) prepare in writing and provide to the non-ISP Party an Internal SAV Program Plan for such Internal SAV Program consistent with the SAV Target Notice, with the goal of Researching SAVs Directed against such Target(s) under the Internal SAV Program Plan
through the selection of a Lead SAV Candidate, and (C) the Parties shall promptly discuss in good faith and agree upon the definition of [***] to be set forth in the Internal SAV Program Plan for such Internal SAV Program, [***]. 

(ii) The ISP Party for such Internal SAV Program, [***], will undertake Research and such other activities as set forth in the
applicable Internal SAV Program Plan for such Internal SAV Program to generate information to prepare the Pre-GLP Tox Data Package for such Internal SAV Program. If Merck is the ISP Party for such Merck
Internal SAV Program, Moderna will Manufacture and supply SAVs (including mRNA Constructs therefor) Directed against the applicable Target(s) for such Merck Internal SAV Program, all in accordance with the supply terms set forth in Exhibit N.
An ISP Party may terminate its Internal SAV Program for any reason upon [***] days written notice to the non-ISP Party. If an ISP Party does not actively conduct its Internal SAV Program [***], then the ISP
Party shall provide prompt written notice to the non-ISP Party of such discontinuation [***], and as of the date of such written notice, [***]. 

(iii) During the Internal SAV Program Term for a given Internal SAV Program, the Parties shall present and review, via the POC
Committee, the status of the Research activities for such Internal SAV Program and the data generated thereunder. Upon [***], the ISP Party will promptly (and in any event within [***] days) prepare and provide to the
non-ISP Party the Pre-GLP Tox Data Package for such Internal SAV Program. After the delivery of the Pre-GLP Tox Data Package and
for the remainder of the Internal SAV Program Term for such Internal SAV Program, the ISP Party shall, as reasonably requested by the non-ISP Party, meet with the
non-ISP Party to discuss such Pre-GLP Tox Data Package and any questions of the non-ISP Party with respect thereto, including
providing the non-ISP Party with certain additional information as the non-ISP Party may reasonably request to assist with interpretation of such Pre-GLP Tox Data Package. 

  
 46 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iv) On an Internal SAV Program-by-Internal SAV Program basis, the ISP Party hereby grants to the non-ISP Party, during the Internal SAV Program Term for a given Internal SAV Program, the
exclusive right, exercisable at the non-ISP Party’s sole discretion in accordance with Section 3.1(d)(v) below, to elect to continue, in collaboration with the ISP Party, the Research, Development,
Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) for such Internal SAV Program (and the Target(s) thereunder) as a Joint SAV Program, and to exercise the licenses set forth in Section 10.1(a)(ii) or
10.2(a)(ii) (as applicable) with respect to such mRNA Cancer Vaccines (including Collaboration Products) for such Internal SAV Program as a Joint SAV Program, in each case, solely under the terms and conditions set forth in this Agreement (each such
election, a “Pre-GLP Tox Election”). During the Internal SAV Program Term for a given Moderna Internal SAV Program, Merck may terminate its Pre-GLP Tox
Election for such Moderna Internal SAV Program upon written notice to Moderna. In the event that Merck terminates its Pre-GLP Tox Election for a given Moderna Internal SAV Program, then the consequences set
forth in Section 3.1(d)(vi) shall apply with respect to such Moderna Internal SAV Program (mutatis mutandis); provided, however, [***]. 

(v) On an Internal SAV Program-by-Internal SAV
Program basis, the non-ISP Party may elect to exercise the Pre-GLP Tox Election for a given Internal SAV Program by delivering to the ISP Party written notice of such
exercise at any time during the Internal SAV Program Term for such Internal SAV Program (each, a “Pre-GLP Tox Election Notice”). Commencing on the
Pre-GLP Tox Election Date for a given Internal SAV Program, (A) each Target(s) for such Internal SAV Program shall become an “SAV Target”, (B) such Internal SAV Program shall be converted into a
“Joint SAV Program” and (C) the Parties shall engage in such Joint SAV Program for such SAV Target(s) in accordance with Section 3.1(c)(ii), including preparing a POC Plan for such Joint SAV Program as soon as reasonably
practicable (and in any event within [***] days) after such Pre-GLP Tox Election Date. 

(vi) For a given Moderna Internal SAV Program, if Moderna delivers a Pre-GLP Tox Data
Package for such Moderna Internal SAV Program and Merck does not exercise the Pre-GLP Tox Election for such Moderna Internal SAV Program during the Internal SAV Program Term, then, upon written notice
to Merck within [***] days after the Pre-GLP Tox Commitment Date for such Moderna Internal SAV Program, Moderna shall be entitled to [***], Development, Manufacturing and Commercialization program for the
Target(s) for such Moderna Internal SAV Program outside the Collaboration and without any further compensation to Merck, and (A) each such Target shall be deemed a Released Target and the Moderna Internal SAV Program shall be deemed
terminated for purposes of this Agreement, (B) the licenses set forth in Section 10.1(d) may not be exercised by Merck with respect to such Released Target(s) and (C) the exclusivity provisions set forth in Sections 10.7(c) and
10.8(b) shall terminate with respect to the Released Target(s) and the provisions set forth in Sections 10.7(d)(iv) and 10.8(c)(iv) shall terminate with respect to the Collaboration Shared Neoepitope(s) under such Moderna Internal SAV Program,
[***]. 
 (vii) For a given Merck Internal SAV Program, if Merck delivers a Pre-GLP
Tox Data Package for such Merck Internal SAV Program and Moderna does not exercise the Pre-GLP Tox Election for such Merck Internal SAV Program during the Internal SAV Program Term, then Merck may elect
upon written notice to Moderna within [***] days after the 

  
 47 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Pre-GLP Tox Commitment Date for such Merck Internal SAV Program to either (1) convert such Merck Internal SAV Program to a “Joint SAV
Program” and each such Target to an “SAV Target”; provided that (x) Merck will be [***]; provided, however, that at the request of Merck, the Parties will [***], or (2) terminate such Merck Internal SAV Program upon written
notice to Moderna, provided that if Merck elects to exercise its rights under this clause (2), then (A) each Target for such Merck Internal SAV Program [***], (B) the licenses set forth in [***], (C) in such case, [***]terminate with respect to
such Merck Internal SAV Program [***], (D) any outstanding purchase orders for mRNA Constructs to be delivered by Moderna to Merck in accordance with the supply terms set forth in Exhibit N will terminate with respect to such Merck Internal
SAV Program, and (E) Merck shall have no further rights under Exhibit J with respect to such Merck Internal SAV Program. 

(e) Clinical Studies Under a POC Plan for a Joint SAV Program. 

(i) Selection of Collaboration Products for IND Enabling Studies. 

(1) For any given Internal SAV Program that converts to a Joint SAV Program in accordance with Section 3.1(d), if either
Party has reasonably identified [***], then, at the request of such Party, the Parties, via the POC Committee, will discuss whether to conduct such activities. If the Parties mutually agree that the conduct of such additional pre-clinical Research activities is reasonably likely to [***], the Parties will amend the applicable POC Plan to include such Research activities and any [***] (the “Additional Converted Program Research
Activities”), and the Parties will reasonably agree as to which Party should conduct the Additional Converted Program Research Activities. If the Parties do not mutually agree to amend the POC Plan for such Joint SAV Program to include such
Additional Converted Program Research Activities during the [***] following the POC Committee’s discussion, then (A) [***] (B) a Party may, [***]. 

(2) During the POC Term for a given Joint SAV Program, the Parties shall discuss in good faith and mutually agree on the
specific SAV(s) under such Joint SAV Program that will be the subject of the IND-Enabling Studies under the POC Plan for such Joint SAV Program. As of the Amended Effective Date, the Parties acknowledge and
agree that (A) the IND-Enabling Studies for the KRAS Program have been completed [***], and (B) mRNA-5671 is a Collaboration SAV Product Directed against KRAS for the KRAS Program and will be the
subject of Clinical Studies under the POC Plan for the KRAS Program. 
 (ii) Clinical Studies. 

(1) (I) From time to time prior to the completion of the IND-Enabling Studies for a
given Joint SAV Program, the Parties may review, and may mutually agree to update, in good faith, the Clinical Initiation Criteria for such Joint SAV Program based on reasonable scientific rationale. Following completion of IND-Enabling Studies for a given Joint SAV Program, the Party that conducted such IND-Enabling Studies will promptly prepare and provide the other Party with the SAV IND Data
Package for such Joint SAV Program. Within [***] days after the date of delivery of the SAV IND Data Package for such Joint SAV Program, the POC Committee will review and discuss the SAV IND Data Package for such Joint SAV Program, including
determining if the Clinical Initiation Criteria has been met for such Joint SAV Program (provided if there is disagreement as to [***], such disagreement shall be referred to Section 15.1(c) for resolution (which the Parties agree shall be
conducted within [***] days or such other period of time as agreed to by the Parties)). 

  
 48 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (II) Promptly (but in any event within [***] days following the
determination as to whether the Clinical Initiation Criteria has been met for such Joint SAV Program (regardless of whether or not the Clinical Initiation Criteria were met), the Parties shall meet to discuss if the Parties desire to continue to
progress such Joint SAV Program into Clinical Studies under the POC Plan. Subject to the provisions of this Section 3.1(e)(ii), the Parties must mutually agree to advance such Joint SAV Program into Clinical Studies under the POC Plan for such
Joint SAV Program prior to commencing the first Clinical Study under the POC Plan; provided, however [***]. If the Parties mutually agree to advance such Joint SAV Program into Clinical Studies, then Merck shall use Commercially Reasonable Efforts
to file an IND or CTA for such Program in accordance with the POC Plan as soon as reasonably practicable after the date of such agreement. 

(III) If, within [***] days following the meeting of the Parties pursuant to clause (II) above, the Parties do not
mutually agree to advance such Joint SAV Program into Clinical Studies under the current POC Plan for such Joint SAV Program, then the Parties may continue for a period of [***] days to discuss in good faith alternatives to continue the Research and
Development of SAVs (and Collaboration SAV Products) under such Joint SAV Program, which alternatives may include, if mutually agreed to by the Parties, [***]. If the Parties do not mutually agree to amendments to the then current POC Plan within
such [***] day period or such longer time as mutually agreed to by the Parties, then the matter shall be referred to Section 15.1(c) for resolution (which the Parties agree shall be conducted within [***]or such other period of time as agreed
to by the Parties). 
 (IV) Notwithstanding anything herein to the contrary, the Parties acknowledge and agree that this
Section 3.1(e)(ii) shall not apply to the KRAS Program. 
 (2) In the event that the Parties mutually agree in writing
not to advance a given Joint SAV Program into Clinical Studies under the POC Plan for such Joint SAV Program, then the POC Term for such Joint SAV Program shall terminate [***] days after the Parties’ decision in writing (which shall in any
event be within [***] days after the date of delivery of the SAV IND Data Package) not to commence Clinical Studies for such Joint SAV Program. 

(3) In the event that an SAV IND Data Package is delivered to Merck and Moderna wishes to advance a given SAV for a Joint SAV
Program under the POC Plan for such Joint SAV Program (as notified by Moderna to Merck in writing simultaneously with the delivery of the SAV IND Data Package), but Merck does not agree to advance such SAV into Clinical Studies under such POC Plan,
then (A) [***] (B) [***], in each case ((A) and (B)), [***] after Merck’s decision in writing not to commence Clinical Studies for such Joint SAV Program. In the event that Merck does not agree in writing to commence Clinical Studies for such
Joint SAV Program within [***]. 

  
 49 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (4) In the event that (A) an SAV IND Data Package is delivered to
Merck, (B) as part of the POC Committee discussion pursuant to Section 3.1(e)(ii), Merck wishes to advance a given SAV for a Joint SAV Program into Clinical Studies under the POC Plan for such Joint SAV Program, (C) as part of the POC
Committee discussion pursuant to Section 3.1(e)(ii), Moderna does not agree to advance such SAV into Clinical Studies under the POC Plan, and (D) Moderna determines in good faith that there is [***] and notifies Merck thereof during the
POC Committee discussion pursuant to Section 3.1(e)(ii), then [***] 
 (5) In the event that (A) an SAV IND Data
Package is delivered to Merck, (B) as part of the POC Committee discussion pursuant to Section 3.1(e)(ii), Merck wishes to advance a given Joint SAV Program into Clinical Studies under the POC Plan for such Joint SAV Program, (C) as
part of the POC Committee discussion pursuant to Section 3.1(e)(ii), Moderna does not agree to advance a given Joint SAV Program into Clinical Studies under the POC Plan for such Joint SAV Program, and (D) Moderna [***], then Merck may
[***] pursuant to this Section 3.1(e)(ii)(5), then the following shall apply:
 a. Merck shall [***] 

b. Moderna shall [***]; 

c. [***] 

d. [***] 

e. [***] 

Notwithstanding anything herein to the contrary, the Parties acknowledge and agree that this Section 3.1(e)(ii) shall not
apply to the KRAS Program. 
 (iii) Non-Commencement or Suspension of Clinical
Studies for Safety Issue under POC Plan for a Joint SAV Program by Lead Regulatory Party. Notwithstanding anything to the contrary herein or in the applicable POC Plan for a given SAV POC Program, if the Lead Regulatory Party reasonably believes
that there is a Safety Issue for such SAV POC Program, then the Lead Regulatory Party will immediately (and in any event within [***] Business Days after the date the Lead Regulatory Party determines there is a Safety Issue) provide written notice
to the other Party of such Safety Issue for such Program, following which [***]. In all cases, the Lead Regulatory Party shall have the right to cease or suspend the conduct of a given Clinical Study for a given SAV POC Program if the Lead
Regulatory Party reasonably believes there is a Safety Issue. 
 (iv) Suspension of SAV Program for Technical
Failure. For a given SAV Program, the Parties may suspend the conduct of activities under such SAV Program upon mutual written agreement that there is a Technical Failure with respect to the SAVs for such SAV Program, subject to the consequences
in Section 3.2(b). 
 3.2 POC Term. 

(a) Subject to this Agreement, unless (i) earlier terminated by mutual written agreement of the Parties, or
(ii) extended by mutual written agreement of the Parties, the term of the PCV POC Program will commence on the Effective Date and expire upon the earliest of [***] (“PCV POC Term”); [***]. 

  
 50 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Subject to this Agreement (including Section 3.2(c)), unless
(i) earlier terminated by mutual written agreement of the Parties, or (ii) extended by mutual written agreement of the Parties, the term of a given SAV POC Program will commence on the date of Initiation of such Joint SAV Program (provided
that for clarity, with respect to the KRAS Program, the term shall commence on the Amended Effective Date) and expire upon the earliest of [***] (each, an “SAV POC Term” for the applicable Joint SAV Program, and together with the
PCV POC Term, each, a “POC Term”). 
 (c) Notwithstanding anything to the contrary contained herein, in the
event that Merck delivers the Merck Participation Election Notice for a given Program in accordance with this Agreement, then the POC Term for such Program shall automatically continue until [***]. 

3.3 POC Plan. 

(a) Initial POC Plan. Each POC Program shall be conducted in accordance with a plan (and with respect to the PCV
Program, in accordance with a budget) that has been prepared and mutually agreed to by the Parties for such POC Program (each, a “POC Plan”). The amended POC Plan for the PCV Program, [***], is attached hereto as Exhibit A-1, and the POC Plan, [***], for the KRAS Program is attached hereto as Exhibit A-2. The initial POC Plan for each Joint SAV Program (other than the KRAS
Program) shall be prepared by the Parties in accordance with Sections 3.1(c) and 3.1(d)(iv). A given POC Plan may be amended or updated, to the extent applicable, pursuant to Section 3.3(c). For clarity, each POC Plan may, if applicable,
include a schedule for data sharing and sample testing (a “Data Sharing and Sample Testing Schedule”) for the applicable POC Program. In addition, Moderna will use Commercially Reasonable Efforts, at its sole cost and expense, to
conduct the experiments set forth on Exhibit A-3, unless otherwise agreed by the Parties in writing, and all Know-How conceived, discovered, developed or
otherwise made by or on behalf of a Party or any of its Affiliates or permitted subcontractors of any of the foregoing (solely or jointly by or on behalf of a Party or any of its Affiliates or permitted subcontractors of any of the foregoing) in the
course of performing such experiments shall be Moderna Background Know-How, and [***]. 

(b) Scope. Each POC Plan shall set forth [***]. Each POC Plan for a Joint SAV Program shall set forth the anticipated
tasks and responsibilities of each Party throughout the applicable POC Program, it being understood that, except as otherwise specifically set forth in such POC Plan, Moderna shall be responsible for
non-clinical activities and Manufacturing (including CMC development, with input from Merck) of SAVs (including Collaboration SAV Products) under such POC Plan, and supply of Moderna Agents for use in such
Clinical Studies under such POC Plan, and Merck will be responsible for the preparation and filing of INDs and CTAs for, and the conduct of, the Phase I Clinical Study and Phase II Clinical Study of Collaboration SAV Products and supply of Keytruda
and Merck Agents for use in such Clinical Studies under such POC Plan. The Parties generally anticipate that the POC Plan for a given POC Program may include the following activities for such POC Program: 

(i) [***] 

(ii) [***] 

  
 51 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) [***] 

(iv) [***] 

(v) [***] 

(vi) [***] 

(vii) [***] 

(viii) [***] 

(ix) [***] 

(x) [***] 

(xi) [***] 

(c) Preparation and Amendment of a POC Plan. Each of Merck and Moderna will have the right to propose modifications or
amendments to a POC Plan; provided that any modifications or amendments to any POC Plan that are proposed by either Party will be subject to review by the POC Committee and written approval by the Parties [***]; provided that neither Party may
[***]. With respect to any amendment to the POC Plan for the PCV Program, such amendment shall also include a budget to the extent set forth in Section 3.4(g)(iii). [***] 

(d) Additional Moderna PCV POC Term Study. In addition to the Research and Development activities
set forth in the POC Plan for the PCV Program, following [***], for a given Collaboration PCV Product, based on [***] that is sufficient to enable the Parties to proceed to a Registrational Study for such Collaboration PCV Product, [***], until the
expiration of the Merck Participation Election Period for the PCV Program, Moderna shall be entitled to conduct a Registrational Study for such Collaboration PCV Product (the “Additional Moderna PCV POC Term Study”),
subject to the following terms and conditions: (i) Moderna shall [***]; (ii) Merck shall [***]; (iii) Moderna may not [***], (v) Merck shall have the right to [***], (vi) the performance of the Additional Moderna PCV POC Term Study shall not
[***], (vii) to the extent that there are any [***], (viii) if Merck exercises the Merck Participation Election for the PCV Program, then [***], (ix) if Merck does not exercise the Merck Participation Election for the PCV Program, then [***], and
(x) Moderna shall provide Merck [***]. 
 3.4 POC Program Performance. 

(a) Efforts. The Parties have agreed to engage in POC Programs on the terms and conditions set forth in this Agreement,
under the oversight of the POC Committee and in accordance with the applicable POC Plans. 
 (b) PCV Program. Unless
otherwise agreed to by the Parties or otherwise explicitly set forth in the POC Plan for the PCV Program, (i) Moderna will be responsible for performing and conducting the PCV Program in accordance with the POC Plan for the PCV Program
(including the Manufacture of PCVs (including Collaboration PCV Products), in 

  
 52 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
accordance with Exhibit K, [***]), including [***], and for generating the POC Data Package for the PCV Program, and (ii) Merck shall be solely responsible for
Manufacturing and supplying all Keytruda necessary for any Clinical Studies involving Collaboration PCV Product(s) in combination with Keytruda, in accordance with the supply terms set forth on Exhibit K. 

(c) KRAS Program. 

(i) Unless otherwise agreed to by the Parties or otherwise explicitly set forth in the POC Plan for the KRAS Program,
(A) Moderna will be responsible for Manufacturing and supply of mRNA-5671 in accordance with Exhibit K, and (B) Merck shall be responsible for (x) after the KRAS Transition Date, the conduct of the Phase I Clinical Study and
Phase II Clinical Study for mRNA-5671, including [***], and (y) supply of Keytruda for use in such Clinical Studies under such POC Plan. 

(ii) KRAS Transition Plan. As of the Amended Effective Date, the initial written plan for the transition of Development
activities from Moderna to Merck for the KRAS Program (the “KRAS Transition Plan”) is set forth on Schedule 3.4(c)(ii). The KRAS Transition Plan may be reviewed by and amended by mutual written agreement of
the Parties. Each Party will use Commercially Reasonable Efforts to perform the obligations assigned to it under the KRAS Transition Plan in accordance with the timelines set forth therein. All costs and expenses incurred in connection with the
conduct of the KRAS Transition Plan shall be borne by the Party incurring such cost or expense. The date upon which activities set forth in the KRAS Transition Plan are complete shall be the “KRAS Transition Date”. 

(d) Other Joint SAV Programs. Unless otherwise agreed to by the Parties or otherwise explicitly set forth in the
applicable POC Plan, for any given Joint SAV Program (other than the KRAS Program), (i) Moderna shall be solely responsible for performing and conducting the activities assigned to Moderna for such Joint SAV Program in accordance with the applicable
POC Plan (including (A) [***]), and (ii) Merck shall be solely responsible for performing and conducting the activities assigned to Merck for such Joint SAV Program in accordance with the applicable POC Plan, including [***]. 

(e) Diligence. Each Party shall use its Commercially Reasonable Efforts to perform and conduct each POC Program in
accordance with the applicable POC Plan (including any applicable timelines set forth therein) and the terms of this Agreement and to achieve the goals and deliverables set forth in each POC Plan, including, for Moderna, [***]. Subject to the
foregoing and the terms and conditions of this Agreement (including compliance with the applicable POC Plan), each Party (and not the POC Committee) shall be responsible for managing its own Research and Development efforts within the scope of the
activities for a POC Program pursuant to the applicable POC Plan and making decisions with respect to its day-to-day conduct in support of such Research and Development
efforts. For clarity, to the extent the Parties do not agree to commence some or all of the Development activities involving [***], this Section 3.4(e) shall not apply to such Development activities involving [***]. 

(f) Personnel and Resources. Each Party shall dedicate to each POC Program appropriate resources and allocate personnel
with an appropriate level of education, experience and training in Researching and Developing mRNA Cancer Vaccines (including Collaboration Products) for such POC Program in order to perform its activities as part of the applicable POC Program
efficiently and expeditiously, which resources and personnel shall be consistent with the applicable POC Plan. 

  
 53 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (g) Costs for the POC Plan for the PCV Program. 

(i) Subject to Section 3.4(g)(iii) and Section 3(a) of Exhibit F, unless otherwise agreed to by the Parties
in writing, costs and expenses incurred in the conduct of the POC Plan for the PCV Program (including all POC Program Costs for the PCV Program) will be borne solely by Moderna; provided, however, that, subject to the remainder of this
Section 3.4(g), [***]: 
 (1) Up to [***] of the Initial PCV POC Program Funding Amount shall be allocated for
activities set forth under the [***], and in the event that the costs and expenses to be incurred in connection with the completion of the activities set forth in the [***] exceed the [***], then [***] shall be responsible for and directly cover any
excess costs or expenses up to [***]; provided, however, that (A) in the event that the costs and expenses to be incurred in connection with the completion of the activities set forth under the [***] are reasonably expected to exceed the amount
in the [***], then [***] may, at its sole discretion, elect to directly cover any such excess costs or expenses; provided that if [***] does not elect to provide for additional funding for activities set forth under the [***], the Parties shall use
good faith efforts to reach agreement on a reasonable solution with respect to such activities set forth under the [***], including the funding thereof and, if the Parties are unable to reach agreement, the [***]; and (B) in the event that the
costs and expenses incurred in connection with the completion of the activities set forth under the [***] are less than the [***], then any remaining amount will be [***]. If Merck exercises the Merck Participation Election for the PCV Program, then
as of the Merck Participation Election Date at Merck’s election, (i) [***] of any of the costs incurred by or on behalf of Moderna (or its Affiliates) under this Section 3.4(g)(i)(1) that are in excess of the [***] but less than the amount
set forth in the [***] will be (1) [***], or (2) [***]; provided that if Merck does not exercise the Merck Participation Election for the PCV Program, then [***]. 

(2) Up to [***] of the Initial PCV POC Program Funding Amount shall be allocated for all Collaboration Activities set forth
under the [***]; provided, however, that, in the event that the costs and expenses to be incurred in connection with the performance of such Collaboration Activities under the [***], [***] shall be solely responsible for and cover any excess costs
or expenses up to the amount in the [***]. In the event that the costs and expenses to be incurred in connection with the performance of such Collaboration Activities are reasonably expected to exceed [***], [***] may, at its sole discretion, elect
to directly cover any such excess costs or expenses, and [***] shall continue to [***]; provided, further, that if [***] does not elect to provide for additional funding for such Collaboration Activities, the Parties shall use good faith efforts to
reach agreement on a reasonable solution with respect to such Collaboration Activities, including the funding thereof and, if the Parties are unable to reach agreement, the [***]. If Merck exercises the Merck Participation Election for the PCV
Program, then as of the Merck Participation Election Date at Merck’s election, (i) [***] of any of the costs incurred by or on behalf of Moderna (or its Affiliates) under this Section 3.4(g)(i)(2) that are in excess of the [***] but less
than the amount set forth in the [***] will be (1) [***], or (2) [***]; provided that if Merck does not exercise the Merck Participation Election for the PCV Program, then [***]. 

  
 54 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (3) Up to [***] of the Initial PCV POC Program Funding Amount may be
allocated for [***] solely to the extent the costs and expenses of the Collaboration Activities set forth in the POC Plan for the PCV Program attached hereto as of the Amended Effective Date [***] are less than [***]. With respect to such difference
up to the [***], the Parties will endeavor to agree in good faith on [***]. However, if the Parties are unable to so agree, then, in accordance with Section 3.3(c), [***]. 

(ii) Subject to Section 3.4(g)(iii) and Section 3(a) of Exhibit F, unless otherwise agreed to by the Parties
in writing, costs and expenses incurred in the conduct of the portion of the POC Plan for the PCV Program involving [***] will be borne solely by [***]; provided that, once the Parties mutually agree to commence Development activities involving the
[***] under the PCV POC Program, in the event that there are any amounts from the [***] that have not been used or allocated for use in accordance with the POC Plan for the PCV Program, the costs and expenses of such activities shall be funded from
such remaining amounts; subject to the following: 
 (1) Up to [***] of the [***] shall be allocated for Collaboration
Activities set forth under the amended POC Plan for the PCV Program (as attached hereto as of the Amended Effective Date) for the portion of the PCV Program involving [***]; provided, however, that, in the event that the costs and expenses to be
incurred in connection with the performance of such Collaboration Activities are reasonably expected to exceed the [***], [***] may, at its sole discretion, elect to directly cover any such excess costs or expenses, and [***] shall continue to
[***]; provided, further, that if [***] for such Collaboration Activities, the Parties shall use good faith efforts to reach agreement on a reasonable solution with respect to such Collaboration Activities, including the funding thereof and, if the
Parties are unable to reach agreement, [***]. 
 (iii) In the event that the Parties mutually agree in writing to amend the
POC Plan for the PCV Program for additional activities [***], as part of the amendment to the POC Plan for the PCV Program, the Parties shall also mutually agree in writing on a budget for the conduct of such activities. With respect to such
activities, the Parties shall [***]; provided that, with respect to activities related to the [***] shall be responsible for all costs and expenses for such activities up to the [***]. Notwithstanding the foregoing, in the event that there are
amounts from the [***], as applicable, that have not been used or allocated for use in accordance with the POC Plan for the PCV Program, then prior to the Parties [***], the costs and expenses of such activities shall be funded from the remaining
portions of the [***], as applicable. 
 Notwithstanding anything to the contrary contained herein, unless otherwise agreed
to by the Parties in writing, [***] shall be solely responsible for any and all costs and expenses relating to Research involving the [***] and none of such costs or expenses shall count against the [***]. 

  
 55 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (h) Costs for the POC Plans for the Joint SAV Programs. 

(i) Subject to Section 3(a) of Exhibit F, Section 3.1(e)(ii)(5) and this Section 3.4(h), unless
otherwise agreed to by the Parties in writing, each Party shall bear and be responsible for the costs and expenses incurred by or on behalf of such Party (or its Affiliates) in the conduct of each POC Plan for the applicable Joint SAV Program. 

(ii) For any Merck Internal SAV Program that converts into a Joint SAV Program in accordance with Section 3.1(d)(v), and
for which Moderna conducts IND-Enabling Studies and Merck subsequently initiates a Clinical Study for a Collaboration SAV Product for such Joint SAV Program, then within [***] days after [***]. 

(iii) For any Merck Internal SAV Program that converts into a Joint SAV Program in accordance with Section 3.1(d)(vii),
if Merck subsequently exercises the Merck Participation Election for such Joint SAV Program, then an amount equal to [***] of the amount of the costs that are incurred by or on behalf of Merck [***] shall be [***]. 

(i) Records. Each Party will maintain, or cause to be maintained, records of its activities under each POC Program in
sufficient detail and in good scientific manner appropriate for scientific, Patent and regulatory purposes, that will properly reflect all work performed therein, for a period consistent with such Party’s record retention policies, but in no
event less than required by applicable Laws. Subject to Section 6.1(e), each Party will have the right to reasonably request a copy of the other Party’s records for the applicable POC Program upon providing reasonable rationale for needing
such records. 
 (j) Reports. Each Party shall provide to the POC Committee reasonable progress updates at each
Calendar Quarter meeting of the POC Committee on the status of the POC Program activities conducted by such Party, including [***]. For clarity, all such reports shall be considered Confidential Information of both Parties. Each Party agrees that it
will also provide updates from time to time between such meetings as the other Party may reasonably request. 
 (k)
Regulatory Matters. For a given POC Program, during the applicable POC Term: 
 (i) The POC Lead Regulatory Party
shall be primarily responsible for regulatory matters with respect to the Collaboration Products in connection with the performance of the applicable POC Program. The POC Lead Regulatory Party shall ensure that all directions from any Regulatory
Authority, ethics committees or institutional review boards with jurisdiction over any Clinical Studies are followed. Further, the POC Lead Regulatory Party shall ensure that all necessary approvals, licenses, registrations or authorizations
(including any IND or CTA) from any Regulatory Authority, ethics committees or institutional review boards with jurisdiction over the Clinical Study are obtained prior to initiating performance of such Clinical Study. 

(ii) Subject to POC Committee oversight on the overall regulatory strategy for the Collaboration Products, including oversight
of the initial IND or CTA filings for a given Collaboration Product, the POC Lead Regulatory Party shall have primary responsibility with respect to submitting Regulatory Filings for the applicable Collaboration Products (other than DMFs) and all
communications with, and submissions to, Regulatory Authorities in connection with such Collaboration Products, with the other Party’s support and input, which 

  
 56 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
support shall be provided by the other Party upon reasonable request by the POC Lead Regulatory Party [***]. The POC Lead Regulatory Party shall also be responsible for all routine maintenance of
all INDs or CTAs (other than DMFs) for the applicable Collaboration Products. Without limiting the foregoing, Moderna shall provide such information and assistance as Merck may reasonably request in connection with the completion of and submission
of, and maintenance of, Regulatory Filings (other than DMFs), including INDs and CTAs, and responses to inquiries from Regulatory Authorities, provided that (A) to the extent Moderna CMC Information is [***] or (B) in the event disclosure
of Moderna CMC Information [***], Merck will notify Moderna [***], provided further that in the event that the Parties are unable to agree [***], then such matter shall be referred to the Executive Officers (or their designees), and if the Executive
Officers (or their designees) are unable to agree on such course of action within such time frame, then [***]. In the event additional Moderna CMC Information not currently contained within regulatory documents [***], the Parties shall mutually
agree [***]. Moderna will be reasonable [***]. 
 (iii) If Moderna is the POC Lead Regulatory Party for any Clinical Studies
involving Keytruda, Moderna shall act as the sponsor of such Clinical Study under its existing IND or CTA for the applicable Collaboration Product and have a Right of Reference to the IND or CTA of Keytruda; provided, however, that in no event shall
Moderna file an additional IND or CTA for any Clinical Study involving Keytruda unless required by Regulatory Authorities to do so. If a Regulatory Authority requests an additional IND or CTA for a Clinical Study involving Keytruda, the Parties
shall meet and mutually agree on an approach to address such requirement. Merck shall provide reasonable support and input to enable Moderna to prepare and file an amendment solely to the extent required. 

(iv) The POC Lead Regulatory Party shall, subject to applicable Law, (1) allow subject matter experts from the other
Party to [***], (2) through the POC Committee, allow the other Party a reasonable opportunity to review and comment upon all material Regulatory Filings (other than DMFs or portions of such Regulatory Filings containing Moderna CMC Information) to
Regulatory Authorities for the applicable Collaboration Products, and the POC Lead Regulatory Party [***], (3) [***], and (4) promptly provide to individuals in the other Party’s regulatory group copies of any material correspondence or
other documents received from Regulatory Authorities with respect to the applicable Collaboration Products. In all cases, Merck shall have the right (but not the obligation) to participate in any discussions with a Regulatory Authority regarding
matters related to Keytruda or any Merck Agent. In all cases, Moderna shall have the right (but not the obligation) to participate in any discussions with a Regulatory Authority regarding matters related to [***]. 

(v) If Moderna is the POC Lead Regulatory Party for any Clinical Studies involving Keytruda, Merck shall provide to Moderna,
as necessary, a cross-reference letter or similar communication to the applicable Regulatory Authority to effectuate the Right of Reference for Keytruda. Notwithstanding anything to the contrary in this Agreement, neither Party shall have any right
to access the other Party’s CMC data with respect to a Moderna Agent, Merck Agent or Keytruda, as applicable. Merck shall authorize the FDA and other applicable Regulatory Authorities to cross-reference the applicable Merck INDs and CTAs for
Keytruda to provide data access to Moderna sufficient to support conduct of any Clinical Study sponsored by Moderna involving Keytruda. If Merck’s IND or CTA is not available in a given country, Merck will file its CMC data with the applicable
Regulatory Authority for such country, referencing Moderna’s IND or CTA as appropriate (however, Moderna shall have no right to directly access the CMC data for Keytruda). 

  
 57 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (vi) If Moderna is the POC Lead Regulatory Party for any Clinical Studies
involving Keytruda, Moderna shall (a) track and collect financial disclosure information from all “clinical investigators” involved in any Clinical Studies involving Keytruda and (b) prepare and submit the certification or
disclosure of the same in accordance with all applicable Law, including Part 54 of Title 21 of the United States Code of Federal Regulations (Financial Disclosure by Clinical Investigators) and related FDA Guidance Documents. Prior to the initiation
of clinical activities under any Clinical Study sponsored by Moderna involving Keytruda, the Parties shall determine, in writing, whether Moderna shall track and collect separate certification or disclosure forms for each of Merck and Moderna or one
(1) “combined” certification or disclosure form for both Merck and Moderna. For purposes of this Section 3.4(k)(vi), the term “clinical investigators” shall have the meaning set forth in Part 54.2(d) of Title 21 of the
United States Code of Federal Regulations. 
 (vii) With respect to any annual reporting period in which Moderna is not an
entity that is required to make a Transparency Report under applicable Law, Moderna will: (a) notify Merck, in writing, within [***] days after the commencement of such reporting period that Moderna is not so required; and (b) during such
reporting period Moderna will track and provide to Merck data regarding “indirect” payments or other transfers of value by Moderna to such health care professionals to the extent such payments or other transfers of value were required,
instructed, directed or otherwise caused by Merck pursuant to this Agreement in the format requested by Merck and provided on a basis to be agreed upon by both Parties. Moderna represents and warrants that any data provided by Moderna to Merck
pursuant to part (b) above will be complete and accurate to the best of Moderna’s knowledge. With respect to any such annual reporting period in which Moderna is required to make a Transparency Report under applicable Law, Moderna will
provide to Merck, in writing, Moderna’s point of contact for purposes of receiving information from Merck pursuant to this Section 3.4(k)(vii), along with such contact’s full name, email address, and telephone number. Moderna may
update such contact from time to time by notifying Merck in writing pursuant to Section 15.15. Where applicable, Merck will provide to such Moderna contact all information regarding [***] provided for use in a Clinical Study required for such
reporting. In the event that the [***] provided pursuant to this Section 3.4(k)(vii) changes, Merck shall notify Moderna of such revised value and the effective date thereof. For purposes of this Section 3.4(k)(vii), “Transparency
Report” means a transparency report in connection with reporting payments and other transfers of value made to health care professionals, including investigators, steering committee members, data monitoring committee members, and
consultants in connection with a Clinical Study in accordance with reporting requirements under applicable Law, including the Physician Payment Sunshine Act and state gift laws, and the European Federation of Pharmaceutical Industries and
Associations Disclosure Code, or a Party’s applicable policies. 
 (viii) Moderna shall be responsible for filing all
DMFs for Collaboration Products during the POC Term and in connection therewith the provisions of Section 7.2(b) shall apply mutatis mutandis. 

  
 58 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (l) Ownership of Regulatory Filings. 

(i) For a given POC Program, the POC Lead Regulatory Party or its Affiliates shall own, maintain, file and hold in its name,
all Regulatory Filings (other than DMFs), including INDs or CTAs, for the applicable Collaboration Products. The POC Lead Regulatory Party shall provide the POC Committee with regular updates regarding the status of Regulatory Filings and
correspondences for the applicable Collaboration Products, and such Regulatory Filings and correspondences shall be reviewed by the POC Committee. If Merck pays the Participation Election Payment for a given Program, Moderna shall assign and
transfer ownership of all relevant INDs or CTAs and Regulatory Filings (other than DMFs) then held by Moderna (or any of its Affiliates) for Collaboration Products for such Program to Merck in accordance with Section 4.3(b). 

(ii) The Parties agree and acknowledge that Moderna has filed an IND for a Clinical Study for mRNA-5671 under the KRAS Program
prior to the Amended Effective Date, and such IND shall be transferred to Merck in accordance with the KRAS Transition Plan. Notwithstanding the foregoing, in all cases, [***]. 

(1) In addition to the provisions of Section 12 and other provisions of this Agreement regarding treatment of Moderna CMC
Information, Merck recognizes that maintaining the confidentiality of [***], requires a higher level of vigilance than certain other Confidential Information, and agrees to (x) maintain in confidence the [***] with the same degree of care that
Merck uses to protect its own like sensitive information and (y) without limiting Section 3.4(k)(ii), strictly limit the use and disclosure of any such [***] solely for the purpose of preparing, filing and maintaining Regulatory Filings
and maintaining Regulatory Approvals and related quality purposes with respect to the applicable Collaboration Product and no other purpose.

(m) Adverse Event Reporting. For a given POC Program, during the applicable POC Term, the POC Lead Regulatory Party
shall be responsible for maintaining the global safety database for the Collaboration Products from such POC Program and reporting all Adverse Events related to the clinical activities under such POC Program to the appropriate Regulatory Authorities
in the countries in which the applicable Collaboration Products are being Developed, in accordance with the applicable Laws of the relevant countries and Regulatory Authorities. Without limiting the foregoing, upon the other Party’s request,
and for the PCV Program if Merck exercises the Merck Participation Election for the PCV Program, in all cases prior to IND/CTA transfer, the POC Lead Regulatory Party shall provide copies of any Serious Adverse Event and applicable non-serious Adverse Event reports with respect to any Collaboration Products from such Program and any details related thereto in accordance with Section 4.3(b)(ii). Within [***] days prior to the Commencement
of any Clinical Studies for any Collaboration Products during the applicable POC Term, the Parties will execute a pharmacovigilance agreement or update to the current pharmacovigilance agreement (“POC Pharmacovigilance Agreement”)
to ensure the exchange of relevant safety data within appropriate timeframes and in an appropriate format to enable the Parties to fulfill local and international regulatory reporting obligations and to facilitate appropriate safety reviews. The POC
Pharmacovigilance Agreement will include [***]. Such guidelines and procedures shall be in accordance with, and enable the Parties and their respective Affiliates to fulfill, local and international regulatory reporting obligations to Regulatory
Authorities. [***] 

  
 59 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (i) [***] 

(ii) [***] 

(n) Sample Testing. 

(i) For the PCV Program, Moderna shall provide samples of biological material collected from subjects participating in a
Clinical Study performed under the POC Plan for the PCV Program, including blood and/or tissue samples, to Merck as specified in the applicable protocol or as agreed to by the POC Committee. 

(ii) For a given Program, the Parties shall conduct testing on such samples in accordance with the Data Sharing and Sample
Testing Schedule (if set forth in the applicable POC Plan) and the applicable protocol. Solely to the extent intended to be shared between the Parties, as specified on the Data Sharing and Sample Testing Schedule in the applicable POC Plan, the
Party conducting the sample testing shall provide to the other Party the results of such sample testing in electronic form, or other mutually agreeable alternate form, on the timelines specified in the Data Sharing and Sample Testing Schedule or as
otherwise mutually agreed. [***] 
 3.5 Merck Participation Election Rights. 

(a) POC Data Package. Promptly following the expiration of the POC Term for a given SAV POC Program, Merck will provide
Moderna with the information listed in [***] of the definition of POC Data Package in Section 1.314 for such SAV POC Program that is generated by or on behalf of Merck or its Affiliates in the course of conducting Collaboration Activities for
such SAV POC Program. In addition, in no event more than [***] days following the earlier of (x) the completion of the Collaboration Activities set forth in the POC Plan for such POC Program and (y) the expiration of the POC Term for such
POC Program, Moderna shall provide the POC Data Package for such Program to Merck; provided, however, (A) to the extent Merck has [***] (B) with respect to the PCV Program, to the extent the Parties do not mutually agree to undertake
Development activities set forth in the POC Plan for the PCV Program involving the [***] pursuant to Section 3.1(a), Moderna shall not be required to include any information regarding [***] in the POC Data Package. After the delivery of the POC
Data Package and for the remainder of the Merck Participation Election Period for the applicable Program, Moderna shall, as reasonably requested by Merck, meet with Merck to discuss such POC Data Package and any questions of Merck with respect
thereto, including [***]. 
 (b) Grant of Merck Participation Election. On a Program-by-Program basis, Moderna hereby grants to Merck during the Merck Participation Election Period for a given Program the exclusive right, exercisable at Merck’s sole discretion, to continue, in
collaboration with Moderna, the Research, Development, Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) for such Program, and to exercise the licenses set forth in Section 10.1(c) with respect to such
mRNA Cancer Vaccines (including Collaboration Products) for such Program, in each case, solely under the terms and conditions set forth in this Agreement (each, a “Merck Participation Election”). 

  
 60 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (c) Merck Participation Election Period, Participation Election. On a Program-by-Program basis, Merck may elect to exercise the Merck Participation Election for a given Program by delivering to Moderna written notice of exercise at any time
during the Merck Participation Election Period for such Program (each, a “Merck Participation Election Notice”). Commencing on the Merck Participation Election Date for a given Program, the Parties shall engage in the Joint
Development Program for such Program in accordance with Section 4. For the avoidance of doubt, Merck may deliver the Merck Participation Election Notice for one or more Programs (or no Programs) at its discretion, and such determination may be
made by Merck on a Program-by-Program basis. 

(d) Net Residual Amount. Following the Merck Participation Election for the PCV Program, the Net Residual Amount (if
any) will be fully committed towards future Shared Collaboration Costs incurred by or on behalf of the Parties (or their Affiliates) during the Merck Participation Term for the PCV Program; provided, however, that notwithstanding the foregoing, if
Merck exercises the Merck Participation Election for the PCV Program prior to the completion of the activities set forth in the then-current POC Plan for the PCV Program, within [***] days after the Merck Participation Election Date for the PCV
Program, Moderna will provide Merck with [***] and, unless the Parties otherwise agree, such Net Residual Amount will be fully committed towards [***], and the remainder shall be fully committed towards future Shared Collaboration Costs for the PCV
Program incurred by or on behalf of the Parties (or their Affiliates) during the Merck Participation Term for the PCV Program. 

3.6 [***] Notwithstanding anything herein to the contrary, in the event that the [***] is incorporated [***] in a
given Program, the following terms and conditions of this Agreement as they apply to [***] as incorporated [***] for such Program will be modified as follows: 

(a) [***] 

(b) [***] 

(c) [***] 

(d) [***] 

(e) [***] 

(f) [***] 

(g) [***] 

(h) [***] 

(i) [***] 

(j) [***] 

  
 61 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (k) [***] 

(l) [***] 

(m) [***] 

(n) [***] 

3.7 Non-Exercise of Merck Participation Election. 

(a) Effects. For a given Program (other than for an Internal SAV Program), if: 

(i) Merck does not exercise the Merck Participation Election for such Program during the Merck Participation Election Period
for such Program; 
 (ii) [***] 

(iii) [***] 

(iv) [***], a “Merck Non-Participation”), then: 

(A) if for the PCV Program, the Merck Participation Election Period, the POC Term, the Collaboration Term and the
Collaboration shall terminate solely for the PCV Program, and all Collaboration PCV Products then in existence will be treated as “PCVs” under this Agreement thereafter (other than for purposes of this Section 3.7(a)); provided that
[***]; 
 (B) if for a Joint SAV Program, the Merck Participation Election Period, the POC Term, the Collaboration Term and
the Collaboration shall terminate solely for such Joint SAV Program and all Collaboration SAV Products then in existence from such Program will be treated as “SAVs” under this Agreement thereafter (other than for purposes of this
Section 3.7(a)); 
 (C) Merck shall no longer have any licenses or other rights under this Agreement (except [***]) to
Research, Develop, Manufacture and Commercialize any Collaboration Products from such Program under this Agreement; 
 (D)
Sections 10.7 and 10.8 shall terminate with respect to such Program [***]; 
 (E) (I) If Merck had initiated activities to
conduct a Clinical Study under the applicable Joint SAV Program, Merck will prepare and provide to Moderna [***]. 
 (II) If
Merck had Commenced a Clinical Study under the applicable Joint SAV Program [***]; 
 (F) [***]; 

(G) [***]; 

  
 62 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (H) Moderna will make the payments set forth in Section 9.2 and
Exhibit E in connection with (1) Moderna Net Profits allocated to sales of any Financial PCVs, or (2) Moderna Net Profits allocated to sales of any Financial SAVs up to an aggregate amount equal to [***]; 

(I) [***] 

(J) [***]; and 

(K) in all cases, if Moderna is conducting a Clinical Study involving Keytruda, the provisions of Section 3.4(m) shall
apply mutatis mutandis. For purposes of clause (H)(2) of this Section 3.7, within [***] after the date of the Merck Non-Participation for a given Joint SAV Program, Merck shall provide to Moderna
[***]. Additionally, in the event of a Merck Non-Participation for the PCV Program, then subject to the remainder of this Section 3.7, during [***] period following the effective date of the Merck Non-Participation for the PCV Program, [***]. 
 [***] 

In the event that Merck exercises the Merck Non-Participation with respect to a Joint SAV Program
before the date of [***], then (1) Merck shall, [***]. 
 In addition, the Parties’ rights and obligations under [***] shall
terminate in full with respect to such Program [***]. In addition, on a Program-by-Program basis, if, as of the date of the Merck
Non-Participation for such Program, a Party is granting a sublicense to the other Party under an Included In-License for such Program, and such sublicense under such
Included In-License survives the Merck Non-Participation for such Program pursuant to this Section 3.7(a), then, (i) the Party receiving such sublicense under
such Included In-License shall [***] and (ii) such Party’s rights under such Included In-License will be subject to the terms of such Included In-License; provided that in each case of (i) and (ii), the licensor Party promptly informs the other Party of any [***]. 

(b) Remaining Activities under the POC Plan for the PCV Program. If (i) Merck exercises the Merck Non-Participation for the PCV Program and (ii) the activities set forth in the then-current POC Plan for the PCV Program are not completed prior to the expiration or termination of the PCV POC Term, then
Moderna will retain the Net Residual Amount (if any) and will use the Net Residual Amount for the continued Research, Development, Manufacture or Commercialization of PCVs (including any Collaboration PCV Products then in existence). 

 

	4.	 ADDITIONAL RESEARCH PROGRAM AND JOINT DEVELOPMENT PROGRAM 

4.1 Overview. 

(a) General. If Merck exercises the Merck Participation Election for a given Program, during the Merck Participation
Term for such Program, the Parties shall mutually conduct a Research and Development program with the goal of furthering the Research and Development of mRNA Cancer Vaccines (including Collaboration Products) for such Program and conducting Clinical
Studies with the goal of obtaining Regulatory Approvals for one or more Collaboration Products for such Program all subject to and in accordance with this Agreement. 

  
 63 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Additional Research Programs. During the Merck Participation Term
for a given Program, the Parties may conduct one or more Additional Research Programs focused on advancing the Research and Manufacturing of mRNA Cancer Vaccines (including Collaboration Products) for such Program, subject to and in accordance with
the terms of this Agreement and the applicable Additional Research Plan (each, an “Additional Research Program”). 

(c) Clinical Studies. 

(i) During the Merck Participation Term for a given Program, the Parties shall conduct Clinical Studies of Collaboration
Products from such Program either as a monotherapy or in combination with Other Components, including as a part of clinical development partnerships with Third Parties by either Party or its Affiliates, subject to and in compliance with this
Agreement (including the exclusivity provisions hereunder) and the applicable Joint Development Plan and Budget for the applicable Program (the “Joint Development Program” for such Program), as well as Independent Additional Studies
for such Program pursuant to Section 4.4 in compliance with this Agreement (including the exclusivity provisions hereunder). In all cases, the Merck Participation Term Lead Regulatory Party shall have the right to cease or suspend the conduct
of a given Clinical Study if the Merck Participation Term Lead Regulatory Party reasonably believes there is a Safety Issue. 

(ii) If the Merck Participation Term Lead Regulatory Party suspends the conduct of a Clinical Study for a given Joint SAV
Program as a result of a Safety Issue, then the Merck Participation Term Lead Regulatory Party shall provide immediate (and in any event within [***] Business Days of the determination by the Lead Regulatory Party of such Safety Issue) written
notice to the other Party of such determination, and the Parties will discuss in good faith whether to initiate a new Joint Development Plan and Budget to resolve the Safety Issue for such Joint SAV Program. If the Parties mutually agree upon a new
Joint Development Plan and Budget for such Joint SAV Program, then the Parties will perform the Collaboration Activities (including any nonclinical studies or Clinical Studies) under the new Joint Development Plan and Budget for such Joint SAV
Program in accordance with this Agreement. If the Merck Participation Term Lead Regulatory Party provides written notice of a Safety Issue for such Joint SAV Program, and as a result thereof the Parties do not recommence Collaboration Activities to
resolve the Safety Issue under such Joint Development Plan and Budget (or amended Joint Development Plan and Budget) for a period of [***], then upon the expiration of such [***] period, then Merck will be deemed to have exercised the Merck
Cessation Election for such Joint SAV Program pursuant to Section 10.10. For clarity, if Merck proposes a reasonable Joint Development Plan and Budget to resolve such Safety Issue within such [***] period, (A) Moderna shall [***] and
(B) the preparation and initiation of activities under such Joint Development Plan and Budget shall be deemed [***]. 

  
 64 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 4.2 Additional Research Programs. 

(a) General. During the Merck Participation Term for a given Program, in the event that a Party proposes to conduct an
Additional Research Program for such Program, then such Party shall propose the Additional Research Program to the JSC and such Party will prepare an Additional Research Plan for such Additional Research Program, setting forth such activities and
budget therefor and, solely to the extent the Parties mutually agree and approve such Additional Research Plan, [***], the Parties shall conduct such Additional Research Program in accordance with the terms of this Agreement and such Additional
Research Plan. All costs and expenses incurred by or on behalf of the Parties (or their Affiliates) in connection with the conduct of any Additional Research Program(s) shall be considered Allowable Development Costs. The Parties acknowledge and
agree that Research activities under an Additional Research Plan may be [***]. 
 (b) Additional Research Plans.
Either Party may propose at any meeting of the JSC amendments to any Additional Research Plan. Notwithstanding the foregoing, at a minimum, no later than [***] days prior to the start of a given Calendar Year, the Parties shall propose an updated
budget for any ongoing studies or Manufacturing activities under any then-current Additional Research Plans for the Additional Research Programs for the upcoming Calendar Year for the JDC’s review and JSC’s approval. Additional Research
Plans that incorporate Manufacturing activities (e.g., process development) for Collaboration Products should also be presented to the JMC for review and comment. 

(c) Efforts. The Parties will conduct each Additional Research Program on the terms and conditions set forth in this
Agreement, under the oversight of the JDC, JSC, and JMC, as applicable, and in accordance with the applicable Additional Research Plan. Each Party shall use its respective Commercially Reasonable Efforts to perform the activities allocated to it
pursuant to the applicable Additional Research Plan for a given Additional Research Program in accordance with the terms of this Agreement and within the timelines set forth in such Additional Research Plan, and to achieve the goals and deliverables
set forth in such Additional Research Plan. Subject to the foregoing and the terms and conditions of this Agreement (including compliance with the applicable Additional Research Plan), each Party (and not the Joint Steering Committee) shall be
responsible for managing its own Research and Manufacturing efforts within the scope of the activities allocated to it pursuant to the applicable Additional Research Plan for a given Additional Research Program and for making decisions with respect
to its day-to-day conduct in support of such Research and Manufacturing efforts in connection therewith. 

4.3 Joint Development Program. 

(a) General. During the Merck Participation Term for a given Program, it is the expectation of the Parties that
(i) Merck will be the Party solely responsible for conducting the clinical Development activities for the Collaboration Products under the Joint Development Plan and Budget for the applicable Program, (ii) with respect to the PCV Program,
each Party will be solely responsible for conducting an Independent Additional Study proposed by such Party under the applicable Independent Additional Study Development Plan, (iii) with respect to a given Joint SAV Program, [***], (iv) subject
to Section 6.2, Moderna will be responsible for conducting Manufacturing activities, including [***], under the Joint Development Plan and Budget for the applicable Program, and (v) Merck will be primarily responsible for pre-approval Commercialization activities (all subject to Section 8), in each case, unless the Parties otherwise agree. 

  
 65 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Development Transition Plan. Promptly following the Merck
Participation Election Date for a given Program, Moderna will prepare and provide to Merck a draft plan for the transition of any Development activities then being conducted by or on behalf of Moderna or its Affiliates from Moderna to Merck for such
Program (including with respect to the PCV Program, Clinical Studies for Collaboration PCV Products) (a “Development Transition Plan”), which Development Transition Plan will be reviewed by the JDC and subject to the approval of the
JSC. If and to the extent applicable, the Development Transition Plan will require Moderna to perform the following activities (provided that, for clarity, the Development Transition Plan shall not include any obligations for Moderna to provide to
Merck any information or materials previously provided to Merck or to re-perform any activities that have already been transitioned to Merck), on the timeline set forth in the Development Transition Plan: 

(i) transfer and assign to Merck or its designee [***]; 

(ii) transfer to Merck [***]; 

(iii) deliver to Merck copies of all [***]; 

(iv) (A) with respect to the PCV Program, to the extent it is determined pursuant to [***] that [***] should be [***], at
Merck’s request, reasonably assist Merck in [***] and (B) with respect to each Joint SAV Program, to the extent it is determined pursuant to [***] that [***] should be [***], at Merck’s request, reasonably assist Merck in [***]; and

 (v) deliver to Merck, in an electronic format (the form of which shall be agreed upon by the Parties), [***]. 

Each Party will use Commercially Reasonable Efforts to perform the obligations assigned to it under the Development Transition Plan in
accordance with the timelines set forth therein. All costs and expenses incurred by or on behalf of the Parties (or their Affiliates) in connection with the conduct of the Development Transition Plan shall be considered Allowable Development Costs.

 (c) Joint Development Plans. 

(i) Within (x) [***] days after the Merck Participation Election Date for the PCV Program, or (y) subject to the last
sentence of this Section 4.3(c)(i), [***] days after the date of the Merck Participation Election Notice for a given Joint SAV Program, the Parties shall agree on the Collaboration Activities of the Parties with respect to the applicable Joint
Development Program and set forth such activities and a [***] year rolling budget therefor (such budget to be on a study-by-study or activity-by-activity basis) in a joint development plan (each, a “Joint Development Plan and Budget”), the initial draft of which shall be prepared by [***]. The purpose of the Joint
Development Plan and Budget for the applicable Program is to set forth the specific Development activities to be performed by the Parties in support of such Joint Development Program, [***]. Each Joint Development Plan and Budget for the applicable
Program shall set forth activities that are similar in nature to those contained in the applicable POC Plan. Notwithstanding anything herein to the contrary, if the Parties fail to mutually agree on a Joint Development Plan and Budget for a given
Joint SAV Program within [***] days after 

  
 66 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
the date of the Merck Participation Election Notice for such Joint SAV Program, then Moderna shall deliver written notice (together with an invoice) to Merck that the SAV Participation Election
Payment for such Joint SAV Program is due and either (1) Merck may pay the SAV Participation Election Payment for such Joint SAV Program within [***] Business Days after receipt of such notice, and the Parties will continue to diligently work
to mutually agree on a Joint Development Plan and Budget for such Joint SAV Program, or (2) if Merck does not make such payment under clause (1), then [***]. 

(ii) Either Party may propose at any meeting of the JDC amendments to the Joint Development Plan and Budget for the applicable
Program; provided, however, if such amendments involve an Additional Study or series of related Additional Studies, the inclusion of such Additional Study(ies) shall be in accordance with Section 4.4. Notwithstanding the foregoing, at a
minimum, no later than [***] days prior to the start of a Calendar Year, the Parties shall propose an updated budget for any ongoing studies or activities under the then-current Joint Development Plan and Budget for the applicable Joint Development
Program for the upcoming Calendar Year for the JDC’s review and JSC’s approval.  

(iii) The Parties have agreed to engage in the Joint Development Programs on the terms and conditions set forth in this
Agreement, under the oversight of the JDC and JSC and in accordance with the applicable Development Plans. Each Party shall use its respective Commercially Reasonable Efforts to perform the activities allocated to it pursuant to the Development
Plans [***] in accordance with the terms of this Agreement and within the timelines set forth in the Development Plans and [***], respectively, and to achieve the goals and deliverables set forth in the Development Plans and [***], including [***].
Subject to the foregoing and the terms and conditions of this Agreement (including compliance with the Development Plans and [***] and any applicable Clinical Supply Agreement), each Party (and not the JSC) shall be responsible for managing its own
Development and Manufacturing efforts within the scope of the activities allocated to it pursuant to the Development Plans and [***] and for making decisions with respect to its
day-to-day conduct in support of such Development efforts. 

4.4 Additional Studies. 

(a) Proposal of Additional Studies. 

(i) To the extent that either Party wishes to conduct an Additional Study or related series of Additional Studies of a
Collaboration Product ([***]) that is not set forth in the Joint Development Plan and Budget for the applicable Program for the purpose of seeking Regulatory Approval for such Collaboration Product, such Party shall prepare a [***] year
rolling Development plan and budget for such Additional Study(ies) and propose such Additional Study(ies) to the JDC. Such proposed Development plan and budget shall identify the applicable Collaboration Product, [***] (an “Additional Study
Proposal”). Following receipt of the Additional Study Proposal from the proposing Party, the non-proposing Party shall have [***] days to decide whether or not to
co-fund such Additional Study, and if such non-proposing Party elects to so co-fund, then such Additional Study will be
considered a “Joint Development Study”, and the Parties shall amend and update the Joint Development Plan and Budget for the applicable Program to include such Additional Study as a Joint Development Study as part of the Joint
Development Program. 

  
 67 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) If the non-proposing Party
fails to elect to co-fund a proposed Additional Study within such [***] day period, then (1) with respect to such proposed Additional Study for the PCV Program, [***] (2) with respect to a proposed
Additional Study for a Joint SAV Program, [***], may independently conduct such Additional Study (an “Independent Additional Study”) subject to the terms and conditions of this Section 4.4 and in accordance with such Additional
Study Proposal (thereafter, an “Independent Additional Study Development Plan”); provided, however, that if (A) the Independent Additional Study would involve a Collaboration Product in combination with a Moderna Agent when
Moderna is the non-proposing Party or a Merck Agent [***] when Merck is the non-proposing Party, then [***], or (B) the
non-proposing Party reasonably and in good faith believes that [***], then the proposing Party shall [***].

(b) Costs. The Party sponsoring or conducting an Independent Additional Study under an Independent Additional Study
Development Plan shall be responsible for [***], in connection with such Independent Additional Study(ies) and such costs shall be borne in accordance with this Section 4.4 and Exhibit D. 

(c) Recording of Costs. All Development Costs pursuant to this Section 4.4 shall be recorded and reported
consistent with Exhibit D. Each Party shall keep records associated with Development Costs incurred through performance of an Independent Additional Study Development Plan strictly separate from records associated with Development Costs
incurred through performance of the applicable Joint Development Program. 
 4.5 Records, Reports, Resources.

 (a) Personnel and Resources. Each Party shall dedicate to the Additional Research Programs, Joint Development
Programs and Independent Additional Studies (as applicable) appropriate resources and allocate personnel with an appropriate level of education, experience and training in Researching and Developing mRNA Cancer Vaccines (including Collaboration
Products) for such Programs in order to achieve the objectives of the Additional Research Programs, Joint Development Programs and Independent Additional Studies (as applicable) efficiently and expeditiously, which resources and personnel shall be
consistent with the Additional Research Plans or Development Plans (as applicable). 
 (b) Research and Development
Costs. Development Costs incurred in the conduct of the Additional Research Programs and Joint Development Programs will be borne in accordance with Exhibit D. Development Costs incurred in the conduct of the Independent Additional
Study Development Plan(s) (as applicable) will be borne in accordance with Exhibit D. 
 (c)
Records. Each Party will maintain, or cause to be maintained, records of its activities under the Additional Research Programs, Joint Development Programs and Independent Additional Studies (as applicable) in sufficient detail and in good
scientific manner appropriate for scientific, Patent and regulatory purposes, that will properly reflect all work performed therein, for a period consistent with such Party’s record retention policies, but in no event less than required by
applicable Laws. Each Party will have the right to reasonably request a copy of any such records upon providing reasonable rationale for needing such records; provided, however, Moderna shall have no right to directly access the CMC data for [***],
and Merck shall have no right to directly access the CMC data for [***]. 

  
 68 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Reports. Each Party shall provide to the JDC a summary written
report at each Calendar Quarter meeting of the JDC, describing its progress under the Additional Research Plans or Development Plans (as applicable) during the prior Calendar Quarter, which summary report shall include [***]. Each Party agrees that
it will promptly respond to the other Party’s reasonable questions regarding any of the other Party’s reports. For clarity, all such reports shall be considered Confidential Information of each Party. Each Party shall also provide updates
from time –to -time between such meetings as the other Party may reasonably request. 
  

	5.	 COMPLIANCE 

5.1 General. Each Party shall conduct the Internal SAV Programs, POC Programs, Additional Research Programs, Joint
Development Programs and Independent Additional Studies and other activities under the Internal SAV Program Plans, POC Plans, Additional Research Plans, Joint Development Plan and Budget for the applicable Program or Independent Additional Study
Development Plans in compliance with all applicable Laws. Each Party shall promptly notify the other Party in writing of any deviations from applicable Laws, including, each if and to the extent applicable to the respective Party or its activities
hereunder, the Act, the Anti-Kickback Statute (42 U.S.C. §1320a-7b), Civil Monetary Penalty Statute (42 U.S.C. §1320a-7a), the False Claims Act (31 U.S.C.
§ 3729 et seq.), comparable state statutes, the regulations promulgated under all such statutes, and the regulations issued by the FDA. In addition, each Party hereby certifies that it has not employed or otherwise used in any capacity and will
not employ or otherwise use in any capacity, the services of any person debarred under United States law, including Section 21 USC 335a, or any foreign equivalent thereof, in performing any portion of the Internal SAV Programs, POC Programs,
Additional Research Programs, Joint Development Programs or Independent Additional Studies or other activities under the Internal SAV Program Plans, POC Plans, Additional Research Plans, Joint Development Plan and Budget for the applicable Program
or Independent Additional Study Development Plans. Each Party shall notify the other Party in writing immediately if any such debarment occurs or comes to its attention, and shall, with respect to any person or entity so debarred promptly remove
such person or entity from performing activities under the Internal SAV Programs, POC Programs, Additional Research Programs, Joint Development Program or Independent Additional Studies or other activities under the Internal SAV Program Plans, POC
Plans, Additional Research Plans, Joint Development Plan and Budget for the applicable Program or Independent Additional Study Development Plans, function or capacity related thereto. Without limiting the foregoing, if animals are used in Research
hereunder, the applicable Party will comply with the Animal Welfare Act and any other applicable Laws relating to the care and use of laboratory animals. Merck encourages Moderna to use the highest standards, such as those set forth in the Guide for
the Care and Use of Laboratory Animals (NRC, 1996), for the humane handling, care and treatment of such research animals. Any animals which are used in the course of the Internal SAV Programs, POC Programs, Additional Research Programs, Joint
Development Programs or Independent Additional Studies or other activities under the Internal SAV Program Plans, POC Plans, Additional Research Plans, Joint Development Plan and Budget for the applicable Program or Independent Additional Study
Development Plans, or products derived from those animals, such as eggs or milk, will not be used for food purposes, nor will these animals be used for commercial breeding purposes. 

  
 69 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 5.2 Use of Human Materials. Without limiting the provisions of
Section 5.1, if any human cell lines, tissue, human clinical isolates or similar human-derived materials (“Human Materials”) are to be collected or used in the Internal SAV Programs, POC Programs, Additional Research Programs,
Joint Development Program or Independent Additional Studies and other activities under the Internal SAV Program Plans, POC Plans, Additional Research Plans, Joint Development Plan and Budget for the applicable Program and Independent Additional
Study Development Plans, the applicable Party represents and warrants (i) that it shall comply, with all applicable Laws relating to the collection and/or use of the Human Materials and (ii) that it has obtained or shall obtain, all
necessary approvals and appropriate informed consents, in writing, for the collection or use of such Human Materials. Each Party shall provide documentation of such approvals and consents upon the other Party’s request. The applicable Party
further represents and warrants that such Human Materials may be used as contemplated in this Agreement without any obligations to the individuals or entities (“Providers”) who contributed the Human Materials, including any
obligations of compensation to such Providers or any other Third Party for the intellectual property associated with, or commercial use of, the Human Materials for any purpose. 

5.3 Compliance with Corporate Policy. Each Party acknowledges that the other Party’s corporate policies require
that business must be conducted within the letter and spirit of the law. By signing this Agreement, each Party agrees to conduct the activities contemplated herein in a manner which is consistent with both law and good business ethics. Consistent
with the ‘Compliance Program Guidance for Pharmaceutical Manufacturers’ published by the Office of Inspector General, U.S. Department of Health and Human Services, each Party agrees to maintain a compliance program and policies and
adequate internal audit program with respect to its detailing and other Commercialization activities in the United States pursuant to this Agreement containing all the elements described in such guidance document, as well as completing any required
reporting to any Regulatory Authority. Each Party shall, promptly following the Effective Date, have in place and enforce, and at all times during the Term thereafter will have in place and will enforce, for its (and its Affiliates) employees, a
code of conduct and compliance program, including as provided under each Party’s respective corporate policies. 
 5.4
Business Partner Code of Conduct. Each Party endeavors to hold itself and its business partners to the highest performance, ethical and compliance standards, including basic human rights, encouraging fair and equal treatment for all persons,
the provision of safe and healthy working conditions, respect for the environment, the adoption of appropriate management systems and the conduct of business in an ethical manner. In performing its duties under this Agreement, each Party
acknowledges the value and importance of performance and ethical behavior in its performance under this Agreement. Without limiting any of Moderna’s other obligations hereunder, Merck expects that Moderna will abide by the letter and spirit of
Merck’s Supplier Performance Expectations and Business Partner Code of Conduct (the “Code”), a copy of which is available at http://www.merck.com/about/how-we-operate/code-of-conduct/values.html, in its performance of this Agreement. Moderna is also expected to follow the Pharmaceutical Supply Chain Initiative (PSCI)
principles, a copy of which is available at http://www.pharmaceuticalsupplychain.org/. In the event of a conflict or inconsistency between the Code and the express terms of this Agreement, this Agreement shall govern and prevail. 

  
 70 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 5.5 Governments and International Public Organizations. Without
limitation of the foregoing, each Party warrants that none of its employees, agents, officers or other members of its management are officials, officers, agents, representatives of any government or international public organization. Each Party
agrees that it shall not make any payment, either directly or indirectly, of money or other assets, including the compensation derived from this Agreement (hereinafter collectively referred as a “Payment”), to government or
political party officials, officials of international public organizations, candidates for public office, or representatives of other businesses or persons acting on behalf of any of the foregoing (hereinafter collectively referred as
“Officials”) where such Payment would constitute a violation of any Law. In addition, regardless of legality, no Party shall make any Payment either directly or indirectly to Officials if such Payment is for the purpose of
influencing decisions or actions with respect to the subject matter of this Agreement or any other aspect of a Party’s businesses. 

5.6 No Authority. Each Party acknowledges that no employee of the other Party or its Affiliates shall have authority to
give any direction, either written or oral, relating to the making of any commitment by such Party or its agents to any Third Party in violation of terms of this or any other provisions of this Agreement. 

5.7 Exclusions Lists. Each Party certifies to the other Party that, as of the Effective Date and the Amended Effective
Date, such Party has screened itself, and its officers and directors, against the Exclusions Lists and that it has informed the other Party whether such Party, or any of its officers or directors has been in Violation. After the execution of this
Agreement, each Party shall notify the other Party in writing immediately if any Violation occurs or comes to its attention, and shall, with respect to any person or entity in Violation, promptly remove such person or entity from performing any
Internal SAV Programs, POC Program, Joint Development Program, or and other activities hereunder, function or capacity related thereto. 
  

	6.	 MANUFACTURING AND SUPPLY 

6.1 During POC Program. 

(a) mRNA Cancer Vaccines and Collaboration Products. To the extent supply of mRNA Cancer Vaccines (including
Collaboration Products) or mRNA Constructs (formulated or unformulated) is required to perform the activities under a POC Plan for a given Program, Moderna shall be solely responsible (except as set forth in the applicable POC Plan, Exhibit
K, or as otherwise mutually agreed to by the Parties in writing) for Manufacturing such mRNA Cancer Vaccines (including Collaboration Products) or mRNA Constructs (formulated or unformulated) in accordance with such POC Plan for such Program and
this Agreement and the supply terms set forth in Exhibit K or pursuant to Section 10.13, as applicable. 

(b) Keytruda. To the extent supply of Keytruda is required to perform the Clinical Studies under a POC Plan for a given
Program, Merck shall be solely responsible for supplying such requirements of Keytruda in accordance with such POC Plan for such Program, this Agreement and the supply terms set forth in Exhibit K. 

  
 71 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (c) Manufacturing Capabilities. Pursuant to the POC Plan for a given
Program [***], Moderna will [***] to establish [***] for use as part of such POC Plan (and the Development Plans, if applicable) for such Program, which will include [***], in accordance with the Development Plans (or POC Plans, if applicable) and
this Agreement. [***] 
 (d) Inspections by Merck During POC Term. 

(i) During the SAV POC Term, to the extent Merck has not already conducted a quality audit and an EHS audit of the
Collaboration SAV Manufacturing Facility(ies) identified by Moderna pursuant to Section 6.1(c) in the preceding [***] period, Merck shall have a reasonable opportunity to conduct a quality audit and EHS audit of such Collaboration SAV
Manufacturing Facility(ies) prior to initiation of cGMP Manufacturing; provided, however, such [***] limitation shall not apply in the event that [***]. Quality audits under this Section may include an audit of [***]. 

(ii) At least [***] days prior to the anticipated expiration of the POC Term for a given Program, Merck, in each such
instance, shall have the right, during normal business hours [***] and with reasonable advance notice, to [***] with respect to the applicable Collaboration Products, solely for the purposes of assisting Merck in determining [***]; [***]. Moderna
will support such [***] by Merck by making appropriate resources available to provide the information, data, and records, and to answer questions from Merck. In connection with such [***]. With respect to any SAV Program, if Merck identifies any
audit observations in connection with any audits under this Section 6.1(d)(ii), the Parties will discuss in good faith suitable approaches for correcting such observations and will prepare a plan for correcting such observations for such SAV
Program; [***]. 
 (iii) With respect to an SAV Program and an audit by Merck of Collaboration SAV Manufacturing
Facility(ies) in accordance with Section 6.1(d)(i), if Merck identifies any audit observations, the Parties will discuss in good faith suitable approaches for correcting such observations and the Parties will prepare a plan for correcting such
observations for such SAV Program, [***]. 
 (iv) Notwithstanding Section 6.1(d)(i) and Section 6.1(d)(iii), the
Parties hereby acknowledge and agree that Merck has conducted, as of the Amended Effective Date, a quality audit and EHS audit with respect to the Collaboration SAV Manufacturing Facility(ies) designated to date for the Manufacture of Collaboration
SAV Products for the KRAS Program. As of the Amended Effective Date, as set forth on Schedule 6.1(d)(iv), Moderna and Merck have agreed to the timing and scope of the required corrective actions resulting from such quality and EHS audits.
[***] Merck acknowledges that the batches of mRNA-5671 Manufactured by Moderna in such Collaboration SAV Manufacturing Facility(ies) are suitable, as of the Amended Effective Date, for use in Clinical Studies for the KRAS Program, subject to [***].

 (e) Confidential CMC Documents. Notwithstanding anything in this Agreement to the contrary, during the POC
Term for a given Program, except with respect [***], Moderna may redact from documents provided or made available to Merck or its Affiliates, and otherwise decline to disclose or provide Merck access to, Moderna CMC Information and proprietary
manufacturing processes relating to Moderna CMC Information from such Program. 

  
 72 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 6.2 Manufacture for Development During Merck Participation Term for a
given Program. 
 (a) mRNA Cancer Vaccines and Collaboration Products. To the extent supply of mRNA Cancer
Vaccines (including Collaboration Products) or mRNA Constructs (formulated or unformulated) is required to perform the activities under any Additional Research Plan for a given Program, Moderna shall be solely responsible (except as mutually agreed
by the Parties in writing or as set forth in the applicable Joint Development Plan and Budget) for Manufacturing such mRNA Cancer Vaccines (including Collaboration Products) or mRNA Constructs (formulated or unformulated) in accordance with such
Additional Research Plan for such Program and this Agreement. 
 (b) Merck’s Exercise of a Merck
Participation Election for SAV Programs. Subject to the remainder of this Section 6.2(b), to the extent supply of Collaboration SAV Products (including mRNA Constructs therefor) is anticipated to be required to perform the activities under
any Joint Development Plan and Budget, concurrent with Merck’s review of Moderna’s Manufacturing operations and the Parties’ preparation of a plan for correcting observations for such SAV Program as set forth in
Section 6.1(d)(ii), the Parties shall discuss in good faith and mutually agree on [***]. After receipt of [***], the Parties shall discuss in good faith [***]. After such joint discussion and evaluation, if the Parties are not able to agree
[***], then [***] shall have the right to make the final determination [***]. For the avoidance of doubt, the discussions and determination as set forth in this Section 6.2(b) for an SAV Program may take place during the POC Term for such SAV
Program as well as during the Merck Participation Term for such SAV Program. If the Parties mutually agree, or if [***], that [***], then [***] shall have a reasonable amount of time following such determination to [***]. 

(c) Merck’s Exercise of a Merck Participation Election for the PCV Program.  

(i) With respect to the PCV Program, if Merck identifies any audit observations in connection with any audits under
Section 6.1(d)(ii), the Parties will discuss in good faith suitable approaches for correcting such observations and, following the exercise of the Merck Participation Election for the PCV Program [***], will prepare a plan and a budget for
correcting such observations for the PCV Program, any resulting corrective action plan and budget must [***], and Moderna shall have a reasonable amount of time following such consultation with, and approval by, Merck to make appropriate
corrections. Moderna shall bear all of its own costs and expenses in connection with taking any such corrective actions in accordance with such plan and budget up to [***]. In the event that Moderna incurs costs and expenses in excess of [***] in
connection with taking such corrective actions in accordance with such plan and budget, such excess costs shall be treated as Shared Collaboration Costs with respect to the PCV Program under Exhibit D. 

(ii) [***] Merck, [***], shall purchase from Moderna up to such capacity ([***]), Collaboration PCV Product for use in
Development in connection with the performance of Collaboration Activities during the Merck Participation Term for the PCV Program until [***]. Following [***], upon [***] prior written notice to Moderna, [***]. 

  
 73 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) PCV Clinical Supply Agreement and Clinical Quality Agreements. At
least [***] days prior to the anticipated expiration of the POC Term for the PCV Program, the Parties shall initiate good faith discussions with respect to, and within [***] days after Merck exercises the Merck Participation Election for the PCV
Program enter into, a supply agreement and a Clinical Quality Agreement with respect to the Manufacture of Collaboration PCV Products for Development purposes during the Merck Participation Term for the PCV Program (if and to the extent Merck
exercises the Merck Participation Election), which supply agreement (the “PCV Clinical Supply Agreement”) and Clinical Quality Agreement will include mutually agreed terms and conditions in accordance with Exhibit M, and
shall otherwise include terms and conditions consistent with supply and quality agreements that are customary for agreements of this type which Merck utilizes with other non-affiliated Third Party
manufacturers. 
 (e) SAV Clinical Supply Agreement and Clinical Quality Agreements. At least [***] days prior to the
anticipated expiration of the SAV POC Term for the first SAV Program for which [***], the Parties shall initiate good faith discussions with respect to, and within [***] days after Merck exercises the Merck Participation Election for such SAV
Program, enter into a supply agreement and a Clinical Quality Agreement with respect to the Manufacture of Collaboration SAV Products for Development purposes during the Merck Participation Term for such SAV Program (if and to the extent
Merck exercises the Merck Participation Election for a given SAV Program), which supply agreement (the “SAV Clinical Supply Agreement”) and Clinical Quality Agreement will include mutually agreed terms and conditions in accordance
with Exhibit M, and shall otherwise include terms and conditions consistent with supply and quality agreements that are customary for agreements of this type [***]. In the event that [***], the Parties may mutually agree to amend the
existing SAV Clinical Supply Agreement to include Collaboration SAV Products from such subsequent SAV Program or enter into a new SAV Clinical Supply Agreement for such Collaboration SAV Products. 

(f) [***]; Supply Failure; Selection of Alternative Supplier. 

(i) If ([***], then Merck would have the right to cause Moderna to effect, and Moderna shall effect a technology transfer in
accordance with Exhibit H and the applicable Clinical Supply Agreement to Merck (or its Affiliate) or to a Manufacturing Subcontractor in order to permit Merck (or its Affiliate) or such Manufacturing Subcontractor to Manufacture the
applicable Collaboration Product to meet Merck’s requirements for Development activities under the applicable Program under this Agreement. All costs and expenses incurred by or on behalf of the Parties (or their Affiliates) in connection with
effecting such technology transfer in accordance with Exhibit H will be Shared Collaboration Costs. Without limiting the foregoing, Moderna shall keep Merck reasonably apprised [***]. Should a technology transfer as expressly set forth in
this Section 6.2(f)(i) be required or determined pursuant to Section 6.2(f)(ii), then [***]. During any technology transfer for a Collaboration PCV Product [***]. Following a successful technology transfer to Merck (or its Affiliate) or to
a Manufacturing Subcontractor in accordance with Exhibit H, Merck shall assume responsibility for the supply of Collaboration PCV Product for Development and Commercialization activities under the PCV Program, unless
otherwise agreed to by the Parties in writing. During any technology transfer for a Collaboration SAV Product[***]. 

  
 74 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) Notwithstanding the terms of the SAV Clinical Supply Agreement,
immediately upon [***], the Parties, through the JMC, will review and discuss [***]. If the Parties reasonably determine (based on the considerations above) that the best available course of action [***] is for Moderna to [***], Moderna will, with
Merck’s input, [***]. If the Parties determine that it is in the best interests of the applicable Program for [***], then Moderna [***], and in such case the Parties will prepare an appropriate plan for review by the JMC and approval by the
Parties, including [***]. If the Parties determine that the best available remedy for ensuring that the foregoing requirements are met is some other approach, the Parties will prepare an appropriate plan to reflect such approach for review by the
JMC and approval by the Parties, including [***]. Notwithstanding the preceding provisions of this Section 6.2(f)(ii), if the Parties cannot agree on the best available course of [***], the matter will be resolved in accordance with [***].
During the pendency of any such dispute resolution procedure, [***]. 
 (iii) If following a Supply Failure, there is a
dispute as to the best approach for ensuring [***], then the costs and expenses incurred by or on behalf of a Party or its Affiliates in connection with [***], shall be considered [***]. 

(g) Management of Development Manufacturing Capacity. 

(i) With respect to the Collaboration Products (except for any Collaboration SAV Product for which Moderna is not responsible
to supply [***]), Moderna, in consultation with Merck, shall prepare and maintain a quarterly forecast (each, a “Manufacturing Capacity Forecast”) of the supply of such Collaboration Products, [***]. The Manufacturing Capacity
Forecast for each applicable Program is to be updated [***]. The Manufacturing Capacity Forecast for each applicable Program is to be reviewed [***] by the JMC and used by the JMC in coordination with the JDC to inform plans for [***]. 

(ii) Should the addition or amendment of a Clinical Study to the Manufacturing Capacity Forecast for a given Program result in
the need to obtain additional Manufacturing capabilities (including [***], as determined by the JMC [***], the JMC shall jointly evaluate options to increase Manufacturing capabilities [***] with the goal of [***]. All [***] are subject to review by
the JMC [***], with respect to Collaboration PCV Products, and [***], with respect to Collaboration SAV Products (provided that [***]); provided that no such [***] shall require a Party to establish [***] without such Party’s prior written
consent. Any disputed matter with respect to Collaboration SAV Products pursuant to this Section 6.2(g)(ii) will be resolved in accordance with [***]. 

(h) To the extent there is a technology transfer pursuant to Section 6.2(f) as a result of [***], any costs and expenses
associated with establishing [***] that are incurred by or on behalf of [***], including [***], shall be considered [***]. 

(i) To the extent supply of Keytruda is required to perform the activities under a Development Plan, Merck shall be responsible
for supplying such requirements of Keytruda in accordance with such Development Plan and the supply terms set forth on Exhibit K. 

(j) To the extent supply of a Merck Agent is required to perform the activities under a Development Plan, Merck shall be
responsible for supplying such requirements of such Merck Agent in accordance with such Development Plan and the supply terms set forth on Exhibit K. To the extent supply of a Moderna Agent is required to perform the
activities under a Development Plan, Moderna shall be responsible for supplying such requirements of such Moderna Agent in accordance with such Development Plan and the supply terms set forth on Exhibit K. 

  
 75 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (k) To the extent supply of a Third Party Agent is required to perform the
activities under a Development Plan, the Party who has contracted with such Third Party for such Third Party Agent shall be responsible for supplying such requirements of such Third Party Agent in accordance with such Development Plan. 

6.3 Manufacture for Commercialization During Merck Participation Term for a given Program. 

(a) Manufacturing for Commercialization during Merck Participation Term for a given Program. With respect to a given
Program, considering the forecasted commercial volume requirements for the applicable Collaboration Product, the Parties shall jointly evaluate options to [***]. Notwithstanding the foregoing, with respect to any Collaboration SAV Product, [***].
The [***] with respect to the PCV Program is subject to review by the JMC and approval by [***] is subject to review by the JMC and approval by Parties, [***]; provided that if the Parties do not approve the [***] pursuant to this
Section 6.3(a), such dispute will be resolved in accordance with [***] neither Party’s plan [***]shall include a proposal requiring the other Party to [***]. The initial discussions regarding commercial supply of Collaboration SAV Products
may take place at the same time discussions are taking place pursuant to Section 6.2, and if commercial supply may be sourced at the same time [***], then the selection criteria under Section 6.2(b) shall also include [***]. If there is a
dispute regarding the Commercial Capacity Buildup Plan for a Joint SAV Program and the Parties resolve the dispute through [***], then the determination [***] and the Party responsible for [***] shall be responsible for payment of the costs and
expenses incurred in [***]; provided that such Party shall be entitled to [***]. 
 (b) Commercial Supply Agreements and
Commercial Quality Agreements. If Moderna [***], the Parties shall enter into a supply agreement and quality agreement with respect to Manufacture of the applicable Collaboration Product for commercial purposes, which supply agreement (the
“Commercial Supply Agreement”) and quality agreement (the “Commercial Quality Agreement”) shall contain terms and conditions consistent with supply and quality agreements that are customary for agreements of this
type that Merck utilizes with other non-affiliated Third Party manufacturers, including, [***]. 

6.4 Allocation of Capacity. Allocation of capacity for Collaboration Products among Exhibit K, the PCV Clinical
Supply Agreement, SAV Clinical Supply Agreement and the Commercial Supply Agreement will be prioritized, in descending order of priority, as follows: [***]. 

  
 76 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

	7.	 REGULATORY RESPONSIBILITIES DURING THE MERCK PARTICIPATION TERM FOR A GIVEN PROGRAM

 7.1 Merck Participation Term Lead Regulatory Party. 

(a) During the Merck Participation Term for a given Program, subject to Section 7.1(b), unless otherwise agreed to by the
Parties in writing, [***] shall be the Lead Regulatory Party and primarily responsible for regulatory matters with respect to the applicable Joint Development Program and the Collaboration Products for such Program. Subject to JDC oversight on the
overall regulatory strategy for the Collaboration Products for such Program, [***] shall have primary responsibility with respect to submitting Regulatory Filings (other than DMFs) for such Program. [***] shall be primarily responsible for all
communications with, and submissions to, Regulatory Authorities in connection therewith, provided that [***] shall have a reasonable opportunity to review and comment on the subject matter of all material Regulatory Filings (other than DMFs)
(including all material correspondence). At the reasonable request of [***], [***] shall prepare, or otherwise provide assistance in the preparation of, certain portions of Regulatory Filings ([***]) for such Program. In the event additional [***]
not currently contained within regulatory documents [***], the Parties shall mutually agree on the [***]. Subject to Section 7.1(b), [***] shall also be responsible for all routine maintenance of all INDs or CTAs for Collaboration Products for
such Program. [***] shall, subject to applicable Law, [***] shall provide such information and assistance as [***] may reasonably request in connection with the completion of and submission of and maintenance of Regulatory Filings for such Program,
including applications for Regulatory Approvals, and responses to agency inquiries (which information [***] shall provide in a timely manner to respond to the agency), for such Collaboration Products for such Program, and the maintenance thereof. In
the event [***] receives a request from a Regulatory Authority with respect to such Program for which disclosure of [***] will notify [***] promptly after receiving such request and the Parties shall discuss a course of action within a time frame
consistent with the time period requested by such Regulatory Authority, provided that in the event that the Parties are unable to agree on such course of action within such time frame, then such matter shall be referred to [***]. 

(b) During the Merck Participation Term for a given Program, notwithstanding Section 7.1(a), the Party sponsoring or
conducting an Independent Additional Study under an Independent Additional Study Development Plan for such Program (the “IAS Party”) shall be responsible for regulatory matters with respect to such Independent Additional Study for
such Program and the Collaboration Products thereunder, including filing and maintaining the IND or CTA for the conduct of such Independent Additional Study and communications with, and submissions to, Regulatory Authorities in connection with such
Independent Additional Study; provided, however, that if a Regulatory Authority requires that an Independent Additional Study be conducted under an IND or CTA held by the other Party (the “Non-IAS
Party”), then the Parties shall discuss in good faith an alternative approach if reasonably available. The non-IAS Party shall provide other information and assistance as the IAS Party may reasonably
request in connection with the completion of and submission of INDs or CTAs for Independent Additional Studies for such Program; provided, however, Moderna shall have no right to directly access the CMC data for [***]. In addition to the foregoing,
if [***]; provided that, if the applicable Regulatory Authority requires [***]. Without limiting the foregoing, the Parties agree to grant each other such Rights of Reference as are necessary, and to otherwise cooperate in good faith, to enable the
conduct of Independent Additional Studies in accordance with the terms of this Agreement, including to with respect to submission of Regulatory Filings, applications for Regulatory Approvals and the maintenance thereof. 

  
 77 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 7.2 Ownership of Regulatory Filings. 

(a) Subject to Section 7.1(b) and Section 7.2(b), during the Merck Participation Term for a given Program, all
applications for Regulatory Approval, the Regulatory Approvals, and other Regulatory Filings (other than DMFs) (including all INDs and CTAs) relating to the applicable Collaboration Products will be the property of [***] and held in the name of
[***] or its designees. [***] shall provide the JDC with regular updates regarding the status of Regulatory Filings and correspondences for Collaboration Products, and such Regulatory Filings and correspondences shall be reviewed by the JDC or a
working group established by such committee. 
 (b) With respect to the Collaboration Products, if not previously prepared
and filed, Moderna will, at Merck’s request, prepare, file and maintain with all applicable Regulatory Authorities a DMF for the Collaboration Products and, subject to the remainder of this Section 7.2(b), Moderna shall also provide such
other information and assistance as Merck may reasonably request in connection with the completion of and submission of applications for Regulatory Approvals for Collaboration Products and the maintenance thereof. Merck and its Affiliates and
Sublicensees may refer to such DMF in any filing made in connection with obtaining or maintaining a Regulatory Approval for a Collaboration Product and [***] hereby grants such a Right of Reference. [***] will be responsible for assuring that during
the Term, such [***] will be in the form appropriate for filing with all applicable Regulatory Authorities, including those in [***], and [***] shall be maintained in full force and effect by [***] during the Term and will not be amended without the
consent of [***], other than with respect to amendments that [***] will, on written request by [***], provide to the requesting party and to any specified Regulatory Authority [***]. If [***] has not filed [***], then any and all [***] required to
be included in any Regulatory Filing [***] shall be provided by [***] to the appropriate individuals [***]. To the extent that [***], then [***] will first notify and discuss with the appropriate representatives at [***]; provided that such [***]
employees [***]. 
 (c) With respect to any Independent Additional Study, upon the IAS Party’s completion of an
Independent Additional Study for a given Program, the IAS Party will provide the data and related information and documents with respect thereto to the non-IAS Party, and the Parties will meet in person to
review and discuss the results and data of such study, the safety and efficacy profile of the proposed Collaboration Product or label expansion with respect to such Collaboration Product that could be requested via a filing for a Regulatory
Approval. [***] shall be responsible for filing, and, subject to [***] shall be obligated to file the application for Regulatory Approval for a given Collaboration Product following receipt of clinical data from the conduct of an Independent
Additional Study upon the request of the IAS Party for such Independent Additional Study; provided further that if not already assigned [***]. 

7.3 Adverse Event Reporting. During the Merck Participation Term for a given Program, prior to [***] shall be
responsible for individual and aggregate safety reporting for any Clinical Studies involving the applicable Collaboration Product for such Program (as applicable), [***] shall provide [***] an electronic copy of the [***]. Upon receipt of completion
of [***] shall assume responsibility for the individual and aggregate safety reporting (as applicable) [***]. Until [***], each Party agrees to notify the other Party of any information of which such Party becomes aware concerning any Adverse Events
with respect to such Collaboration Product for such Program. Such notice shall be provided in English in the form of a processed CIOMS I within [***] days of such Party receiving such information where such potential Adverse Events is a SAE and
associated with the clinical uses, Clinical Studies, investigations, tests or marketing of such Collaboration Product for such Program. Adverse Event reports of unexpected and fatal 

  
 78 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
or life-threatening events which are possibly, probably, definitely related or of unknown relationship to the use of a given Collaboration Product for such Program must be forwarded to the other
Party within [***] after receipt of such information. It is understood and agreed that these Adverse Events reporting requirement provisions are based on the respective policies and procedures of the Parties and applicable regulatory reporting
requirements. In the event of changes to applicable regulatory requirements for Adverse Events reporting, the Parties agree to comply with any such required revised notification requirements. At this same time, Moderna and Merck shall enter into
discussions regarding one or more pharmacovigilance agreements (or updates to the current pharmacovigilance agreement) for the Collaboration Product for such Program, as applicable (the “Pharmacovigilance Agreement”). In all cases,
[***]. For the avoidance of doubt, [***]. 
 7.4 Right of Reference During Merck Participation Term for a given
Program. During the Merck Participation Term for a given Program, each Party shall provide to the other, as necessary, a cross-reference letter or similar communication to the applicable Regulatory Authority to effectuate the Right of Reference
such other Party’s Other Component(s) that are included in a Development Plan. Notwithstanding anything to the contrary in this Agreement, neither Party shall have any right to access the other Party’s CMC data with respect to a Moderna
Agent, Merck Agent or Keytruda, as applicable. Each Party shall authorize FDA and other applicable Regulatory Authorities to cross-reference the applicable INDs and CTAs for any Collaboration Product, Moderna Agent, Merck Agent or Keytruda, as
applicable, used in the conduct of a Clinical Study for such Program under a Development Plan to provide data access to the other Party sufficient to support conduct of any Clinical Study sponsored by such other Party involving such
Collaboration Product for such Program, Moderna Agent, Merck Agent or Keytruda, as applicable. If a Party’s IND or CTA for such Program is not available in a given country, subject to [***], such Party will file its CMC data for such Program
with the applicable Regulatory Authority for such country, referencing the other Party’s IND or CTA for such Program as appropriate (however, [***]. The Party conducting a Clinical Study under a Right of Reference shall (a) track and
collect financial disclosure information from all “clinical investigators” involved in such Clinical Study for such Program and (b) prepare and submit the certification or disclosure of the same in accordance with all applicable Law,
including Part 54 of Title 21 of the United States Code of Federal Regulations (Financial Disclosure by Clinical Investigators) and related FDA Guidance Documents. Prior to the initiation of clinical activities under any Clinical Study for such
Program sponsored by (a) Moderna involving a Collaboration Product for such Program, Keytruda or a Merck Agent or (b) Merck involving a Moderna Agent, the Parties shall determine, in writing, whether the Party conducting such Clinical
Study for such Program shall track and collect separate certification or disclosure forms for each of Merck and Moderna or one (1) “combined” certification or disclosure form for both Merck and Moderna. For purposes of this
Section 7.4, the term “clinical investigators” shall have the meaning set forth in Part 54.2(d) of Title 21 of the United States Code of Federal Regulations. 

7.5 Regulatory Costs. During the Merck Participation Term for a given Program, the reasonable and documented costs and
expenses of the Parties in performing its respective regulatory obligations pursuant to this Section 7 prior to receipt of Regulatory Approval for a given Collaboration Product for such Program shall be considered Development Costs. 

  
 79 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

	8.	 COMMERCIALIZATION RESPONSIBILITIES 

8.1 Overview. On a Collaboration Product-by-Collaboration Product basis, subject to the oversight of the JSC and JCC and
the remainder of this Section 8, Merck will plan Commercialization Activities with respect to such Collaboration Product in the Territory, including discussing such plans with Moderna and the Co-Promotion of such Collaboration Products by
Moderna in the U.S. Merck will be solely responsible for all Commercialization Activities relating to such Collaboration Product in the Territory, including the booking of all sales of Collaboration Products, subject to Moderna’s right to
perform certain Co-Promotion activities (with Merck) in the United States as specified in Sections 8.5 and 8.6 and any Co-Promotion Agreement. 

8.2 Commercialization Efforts. 

(a) United States. On a Collaboration Product-by-Collaboration Product basis, Merck (itself or through one or more
Affiliates) will use Commercially Reasonable Efforts to Commercialize such Collaboration Product in the U.S., and to carry out the tasks specified under the Global Commercialization Plan for such Collaboration Product in the U.S. in a timely and
effective manner and in compliance in all material respects with applicable Law. 
 (b) Ex-U.S. On a Collaboration
Product-by-Collaboration Product basis, Merck (itself or through one or more Affiliates) will use Commercially Reasonable Efforts to Commercialize such Collaboration Product ex-U.S., and to carry out the tasks specified under the Global
Commercialization Plan for Merck for such Collaboration Product ex-U.S. in a timely and effective manner and in compliance in all material respects with applicable Law. 

8.3 Global Commercialization Strategy. Before the Commencement of the first Registrational Study for any Collaboration
Product following the exercise of the Merck Participation Election for the applicable Program, Merck shall provide, and within [***] days after such provision the JCC will review and update for approval by the JSC, a written summary of the global
Commercialization strategy for all Collaboration Products included in the Joint Development Plan and Budget for the applicable Program in the Territory. Such strategy should include [***]. For clarity, any and all such communications and strategy
involving the Commercialization of a Collaboration Product will be limited to those permitted under applicable Law, including antitrust Laws. 

8.4 Global Commercialization Plan(s). 

(a) Initial Global Commercialization Plan(s). For each Collaboration Product, an initial high-level Global
Commercialization Plan shall be prepared by Merck and submitted to the JCC for review and JSC approval no later than [***] prior to the anticipated date of first filing for Regulatory Approval for such Collaboration Product. The JCC will set the
required form and contents of such Global Commercialization Plan, which will include activities relating to [***]; provided that, for clarity, the JCC may determine that not all of the foregoing elements are appropriate for inclusion in the initial
Global Commercialization Plan or updates thereto prior to Collaboration Product launch. 

  
 80 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Global Commercialization Budget(s). At such times as the
JCC will deem appropriate, but in no event later than [***] prior to the anticipated date of first filing for Regulatory Approval for a Collaboration Product, and concurrently with the preparation of the initial Global Commercialization Plan, on a
Collaboration Product-by-Collaboration Product basis, Merck will prepare an initial budget for the Global Commercialization Plan for such Collaboration Product, that outlines the financial resources and expenses to be incurred by or on behalf of the
Parties (or their Affiliates) in execution of the Global Commercialization Plan, with input from Moderna on costs associated with activities assigned to Moderna in the associated Global Commercialization Plan (each a “Global
Commercialization Budget”). The JCC will review and comment on and the JSC will approve such Global Commercialization Budget; provided that the Global Commercialization Budget may not be increased by more than [***] of the anticipated
Allowable Commercialization Costs in such Global Commercialization Budget within a Calendar Year without submitting an amended Global Commercialization Budget for review and comment by the JCC and approval by the JSC; provided that, Merck shall have
the right to incur Commercialization costs in excess of [***] of the anticipated Allowable Commercialization Costs in such Global Commercialization Budget within a Calendar Year to the extent that such Commercialization costs that are not previously
approved by the JSC shall be solely borne by Merck for the purposes of calculating each Party’s share of the Cash Profits or Losses for such Calendar Year. Thereafter, Merck, with input from Moderna, will update the Global Commercialization
Budget at least [***] per Calendar Year (and in any event at any time the Global Commercialization Plan is updated or amended with respect to any Commercialization Activities), and the JCC will review and comment on and the JSC shall approve any
such update or any other amendment to the Global Commercialization Budget. The JCC will set the required form and contents of the Global Commercialization Budget, but at a minimum the contents shall include [***].  

(c) Updated Global Commercialization Plan(s) and Global Commercialization Budget(s). Not later than [***] of each
Calendar Year, or more often as the Parties mutually deem appropriate, Merck shall submit to the JCC for review and comment updated Global Commercialization Plans and Global Commercialization Budgets for the following Calendar Year, which the JCC
shall review and comment on, and the JSC shall approve, no later than [***] of such Calendar Year and attach to the minutes of the meeting of the JSC at which any Global Commercialization Plan, Global Commercialization Budget or any amendment,
modification or update to either or both is approved by the JSC. 
 8.5 Co-Promotion of Collaboration Products in U.S.

 (a) Co-Promotion. Except as otherwise set forth in this Agreement, the Parties intend that the Parties will share
in the Co-Promotion of Collaboration Products in the U.S. on the terms and conditions set forth in this Section 8.5 and Section 8.6. 

(b) Co-Promotion Agreements. On a Collaboration Product-by-Collaboration Product basis, prior to the submission of the
first Global Commercialization Plan for such Collaboration Product to the JCC, the Parties will enter into a co-promotion agreement (the “Co-Promotion Agreement”) setting forth the terms and conditions of the Parties’
Co-Promotion of such Collaboration Product in the U.S. Each Co-Promotion Agreement will be consistent with this Section 8.5 and Section 8.6, and will contain additional reasonable and customary terms and

  
 81 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
conditions, including an equitable allocation of responsibilities for the Co-Promotion of such Collaboration Product and the promotional efforts in the U.S. The Parties may commence negotiating
the terms and conditions of the Co-Promotion Agreement at any time after the commencement of the Merck Participation Term for a given Program. 

8.6 Co-Promotion Terms. Each Co-Promotion Agreement entered into pursuant to Section 8.5 will reflect the
principles set forth in this Section 8.6, unless otherwise expressly agreed by the Parties. 
 (a) Team Building and
Training. Merck will direct the standards for job descriptions, qualifications, roles, responsibilities and training of Moderna’s sales representatives and key account managers and Moderna will prepare and implement, consistent in all
material respects with the Global Commercialization Plan, a training program and training materials for such sales representatives, to which Merck may contribute, at its election. In addition, Merck will specify the conduct and content of details
(including detail scripts) for a Collaboration Product. Moderna will cause each of its sales representatives and key account managers assigned to a Collaboration Product to attend and complete the training program developed by Merck for such
Collaboration Product in the U.S. to assure a consistent, focused promotional strategy and message as and to the extent consistent with applicable Law. 

(b) Responsibilities. Subject to Section 8.6(c) below, each Party will be solely responsible for recruiting, hiring
and maintaining its sales force of sales representatives and key account managers for promotion of a Collaboration Product in accordance with its standard procedures and the requirements of this Agreement. Each Party will be responsible for the
activities of its sales representatives and key account managers, including compliance by its sales representatives and key account managers with training and detailing requirements. In particular, each Party will provide its sales representatives
and key account managers assigned to a Collaboration Product with the level of oversight, management, direction and sales support with respect to the promotion of such Collaboration Product necessary to effectively and efficiently promote such
Collaboration Product in accordance with the terms of this Agreement and applicable Law. 
 (c) Sales Force Matters.

 (i) Number of Representatives. Moderna will have the right, but not the obligation, to provide no less than [***]
but no more than [***] of the total sales representatives and of the total key account managers used by both Parties for promotion of a Collaboration Product in the U.S. The Global Commercialization Plan for a Collaboration Product that is intended
to be Co-Promoted in the U.S. will set forth the precise number of Moderna sales representatives and key account managers consistent with the foregoing and Moderna shall [***]s. Each Party agrees that any of its sales representatives or key account
managers involved in the promotion of a Collaboration Product will not have any legal or regulatory disqualifications, bars or sanctions. 

(ii) Establishment; Launch Readiness. No later than [***] prior to the estimated date of the launch of the first
Collaboration Product in the U.S., Moderna will present its sales representative and key account manager capabilities to Merck. If Merck identifies [***], then Merck shall have the right to [***]. 

  
 82 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iii) Hiring. Moderna will be solely responsible for recruiting,
hiring and maintaining its sales representatives and key account managers in accordance with [***], if any, and shall have sole control over such sales representatives and key account managers. Notwithstanding the foregoing, however, upon
Moderna’s reasonable request, Merck will assist Moderna in the establishment of the sales representatives and key account managers by providing assistance with the profiling of personnel during hiring. 

(iv) Use of Contract Sales Organizations. [***]. 

(v) Compensation Programs for Sales Representatives. Each Party shall be solely responsible for any compensation that
is payable to its sales representatives and key account managers consistent with the applicable Global Commercialization Plan. Each Party represents and warrants to the other Party that its compensation programs for its sales representatives and key
account managers do not, and will not, provide financial incentives that, to its knowledge, facilitate the promotion, sales, and marketing of the Collaboration Product in violation of applicable Laws. 

(d) Promotional Materials. In the United States, to the extent Moderna is Co-Promoting, each Party’s sales
representatives and key account managers assigned to a Collaboration Product will utilize only Promotional Materials that have been approved by the JCC. All detailing activities conducted by each Party’s sales representatives will be consistent
in all material respects with the Promotional Materials so approved. Each Party will train and instruct their respective sales representatives to make only those statements and claims regarding such Collaboration Product, including as to efficacy
and safety, which are consistent with such Collaboration Product labeling and accompanying inserts and the approved Promotional Materials. 

(e) JCC Reports. Each of Merck and Moderna will provide the JCC with a report, as soon as practicable but in no event
later than [***] days following the end of each Calendar Quarter during the Term following the Regulatory Approval of a Collaboration Product to be Commercialized in the U.S., setting forth the number of details made by its sales representatives of
such Collaboration Product in the U.S. during such Calendar Quarter. Costs and expenses for sales representatives and key account managers will be charged to the Profit & Loss Share as in Exhibit D. 

(f) Records. Each Party will maintain records and otherwise establish procedures to ensure compliance with all
applicable Laws and professional requirements that apply to the promotion and marketing of the Collaboration Products. 
 8.7
Branding. To the extent permitted by applicable Law and applicable Regulatory Authorities, all Collaboration Products sold in or distributed for the Territory will have the corporate brands of each Party displayed on an equally prominent
basis. At such time as the JCC will deem appropriate, the Parties will enter into appropriate trademark licensing agreements to achieve the foregoing. 

8.8 Promotional Materials. Merck will be responsible for the creation, preparation, production, reproduction and filing
with the applicable Regulatory Authorities, of relevant Promotional Materials relating to each Collaboration Product for use in the Territory. All such Promotional Materials will be compliant with applicable Law and, if applicable, consistent in all
material respects with the Global Commercialization Plan for such Collaboration Product and, if applicable, consistent in all material respects with the branding strategy for such Collaboration Product. 

  
 83 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 8.9 Sales and Distribution. 

(a) Collaboration Products. Merck will be solely responsible for booking of sales, handling all returns, recalls, order
processing, invoicing and collection, inventory and receivables, and, subject to the good faith consideration by Merck of input from Moderna, Distribution Matters relating to each Collaboration Product in the Territory. Moderna will not accept
orders for Collaboration Products or make sales for its own account or for Merck’s account, and if Moderna receives any order for Collaboration Products in the Territory, it will refer such orders to Merck for acceptance or rejection. Merck
will be solely responsible for negotiating and contracting with managed care entities, hospitals, integrated systems, pharmacies, long term care organizations, group purchasing organizations, pharmacy benefit managers, and governments, consistent in
all material respects with the Global Commercialization Plan. 
 (b) Keytruda and Merck Agents. Merck will be solely
responsible for all Commercialization activities for Keytruda and for all Merck Agents in the Territory, in each case including handling all returns, recalls, order processing, invoicing and collection, booking of sales, inventory and receivables,
government pricing programs and medical affairs, including negotiating and contracting with managed care entities, hospitals, integrated systems, pharmacies, long term care organizations, group purchasing organizations, pharmacy benefit managers,
and governments. Moderna will not accept orders for Keytruda or for Merck Agents, or make sales for its own account or for Merck’s account, and if Moderna receives any order for Keytruda or a Merck Agent (as applicable) in the Territory, it
will refer such orders to Merck for acceptance or rejection. For clarity, Moderna shall have no rights to any revenue from any Merck Agent or Keytruda. 

(c) Moderna Agents. Moderna will be solely responsible for all Commercialization activities for all Moderna Agents in
the Territory, in each case including handling all returns, recalls, order processing, invoicing and collection, booking of sales, inventory and receivables, government pricing programs and medical affairs, including negotiating and contracting with
managed care entities, hospitals, integrated systems, pharmacies, long term care organizations, group purchasing organizations, pharmacy benefit managers, and governments. Merck will not accept orders for Moderna Agents or make sales for its own
account or for Moderna’s account, and if Merck receives any order for Moderna Agents in the Territory, it will refer such orders to Moderna for acceptance or rejection. For clarity, Merck shall have no rights to any revenue from any Moderna
Agent. 

  
 84 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Third Party Agents. With respect to any Third Party Agent to be
used in combination with any Collaboration Product, the Parties will discuss in good faith and agree upon the allocation of responsibilities for Commercialization activities for such Third Party Agent in combination with a Collaboration Product in
the Territory, if and to the extent either Party has any rights in or to such Third Party Agent. 
 8.10 Commercialization
Reports. Each Party will keep the JCC fully informed regarding the progress and results of Commercialization activities for Collaboration Products in the U.S., including [***]. Merck will provide the JCC on a [***] basis a rolling annual
forecast of projected unit sales, revenue and market share for Collaboration Products ex-U.S. The Parties will work together to provide such forecast for Collaboration Products in the U.S. 

8.11 [***]  

(a) [***] 

(b) [***] 

(c) [***] 

8.12 [***] 
  

	9.	 PAYMENTS 

9.1 Program Funding. The Parties agree and acknowledge that pursuant to the terms of the Original Agreement, Merck has
previously paid Moderna a one-time payment of Two Hundred Million Dollars (U.S. $200,000,000) (the “Upfront Payment”), which payment will be non-refundable, non-creditable, not subject to set-off, and not be reduced by any
withholding or similar taxes. Subject to Sections 3.5(d) and 3.7(b) and Exhibit D, Moderna shall utilize the Upfront Payment for the performance of Collaboration Activities for the PCV Program under this Agreement. 

9.2 Non-Exercise of Merck Participation Election. If Merck does not exercise the Merck Participation Election for a
given Program, (a) [***], no further payments shall be due under this Agreement from Merck to Moderna with respect to such Program or the Collaboration Products thereunder (other than with respect to any payment obligations that have accrued
prior to the Merck Participation Election Period expiry for such Program, Merck’s indemnification obligations under Section 13.6(a) or for supply of the applicable Collaboration Products in accordance with Section 3.7) and
(b) Moderna shall pay to Merck for a given Calendar Quarter its share of (1) Moderna Net Profits allocated to sales of any Financial PCVs or (2) the Moderna Net Profits allocated to sales of any Financial SAVs up to an aggregate
amount equal to the Merck SAV Program Costs (at which point, such SAVs shall cease to be Financial SAVs) in accordance with Exhibit E. 

  
 85 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 9.3 Exercise of Merck Participation Election. 

(a) Participation Election Payment.  

(i) If Merck exercises the Merck Participation Election for the PCV Program, then within [***] Business Days after the
exercise of the Merck Participation Election for the PCV Program, and receipt of an invoice from Moderna, Merck will pay to Moderna a one-time payment of Two Hundred Fifty Million Dollars (U.S. $250,000,000) (the “PCV Participation Election
Payment”), which payment will be non-refundable, non-creditable, not subject to set-off, and not be reduced by any withholding or similar taxes. 

(ii) If Merck exercises the Merck Participation Election for a given Joint SAV Program, then within [***] Business Days after
the Parties agree to the initial Joint Development Plan and Budget for such Joint SAV Program in accordance with Section 4.3(c)(i), Moderna will send an invoice to Merck, and within [***] Business Days after receipt of such invoice, Merck will
pay to Moderna a one-time payment of, as applicable, (i) with respect to the exercise of the Merck Participation Election for the KRAS Program, [***], or (ii) for a Joint SAV Program other than the KRAS Program, (A) if prior to the
Merck Participation Election for such Joint SAV Program, Merck has not previously exercised the Merck Participation Election for any Joint SAV Program, [***], (B) if prior to the Merck Participation Election for such Joint SAV Program, Merck
has exercised the Merck Participation Election for any Joint SAV Program, [***], or (C) thereafter for any other Joint SAV Program, [***] (each, an “SAV Participation Election Payment”, and together with the PCV Participation
Election Payment, each a “Participation Election Payment”), which payment will be non-refundable, non-creditable, not subject to set-off, and not be reduced by any withholding or similar taxes. 

(b) Profit & Loss Share. If Merck pays the Participation Election Payment for a given Program, then, subject
to [***] and Exhibit E with respect to a Joint SAV Program, the Parties will share in Cash Profits or Losses with respect to Collaboration Products from such Program as follows: Moderna will bear (and be entitled to) fifty percent (50%), and
Merck will bear (and be entitled to) fifty percent (50%) (the “Profit & Loss Share”). [***] Procedures for Calendar Quarter reporting of actual results and review and discussion of potential discrepancies, quarterly
reconciliation, reasonable forecasting, and other finance and accounting matters, are set forth on Exhibit D, and to the extent not set forth in Exhibit D, will be established by the JSC, subject to Section 2.7(b). 

9.4 Payments for In-Licenses. The Parties will make payments for In-Licenses in accordance with Exhibit D, Exhibit
E and Exhibit F. 
 9.5 Payment Terms. 

(a) Manner of Payment. All payments to be made by a Party hereunder will be made in U.S. dollars by wire transfer to
such bank account as the other Party may designate. 
 (b) Reports and Payments of Cash Profits or Losses. For as long
as payments are due under this Section 9, Merck or Moderna will furnish to the other Party, as applicable, a written report, after the end of each Calendar Quarter, showing the amount of Cash Profits or Losses and each Party’s allocation
of the Cash Profits or Losses in accordance with Exhibit D and Exhibit E, and any other payments accrued during such Calendar Quarter. 

  
 86 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (c) Records; Audits. Each Party will keep, and will cause each of
their other Selling Parties, as applicable, to keep adequate books and records of accounting for the purpose of calculating all amounts payable by either Party to the other Party hereunder and ensuring each Party’s compliance hereunder. For the
[***] following the end of the Calendar Year to which each will pertain, such books and records of accounting (including those of its Affiliates, as applicable) will be kept at each of their principal place of business. At the request of either
Party, the other Party will permit (and procure its Affiliates, to permit) an independent certified public accounting firm of internationally recognized standing selected by the auditing Party and reasonably acceptable to the other Party to have
access during normal business hours to such of the records as may be reasonably necessary to verify the accuracy of the payments due hereunder for any Calendar Year ending not more than [***] following the end of any Calendar Year. Such examinations
may not be conducted more than [***] in any Calendar Year or be repeated for any Calendar Year. The accounting firm shall disclose to the auditing Party only whether the reports are correct or incorrect and the amount of any discrepancy. No other
Confidential Information shall be provided. If such accounting firm correctly identifies a discrepancy made during such period, the appropriate Party shall pay the other Party the amount of the discrepancy within [***] days of the date of delivery
of such accounting firm’s written report so correctly concluding, or as otherwise agreed upon by the Parties. The fees charged by such accounting firm shall be paid by the auditing Party, provided that if the underpayment or overcharge exceeds
[***], the audited Party shall pay the fees. Upon the expiration of [***] following the end of any Calendar Year, absent willful misconduct or fraud by a Party (its Affiliates, as applicable) the calculation of amounts payable with respect to such
Calendar Year shall be binding and conclusive upon the Parties, and the Parties shall be released from any liability or accountability with respect to amounts payable for such Calendar Year. The auditing Party shall treat all financial information
subject to review under this Section 9.5(c) in accordance with the confidentiality and non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with the audited Party
obligating it to retain all such Confidential Information in confidence pursuant to such confidentiality agreement. 
 (d)
Taxes. Subject to Section 9.1 and Section 9.3, a Party may deduct or withhold from any payments due to the other Party amounts for payment of any withholding Tax that is required by Law to be paid to any tax authority with respect to
such payments. To the extent that any such amounts are so deducted or withheld, such amounts will be treated for all purposes of this Agreement as having been paid to the other Party. The paying Party will give written notice of its intent to
withhold any amounts under this Section 9.5(d) at least [***] days in advance of any payment being made. The paying Party will give proper evidence as to the payment of any such Tax within a reasonable amount of time, but in any event within
[***] days of payment. The receiving Party will provide the paying Party all necessary documents and correspondence, and will also use commercially reasonable efforts to provide to the paying Party any other cooperation or assistance on a reasonable
basis as may be necessary to enable the paying Party to claim exemption from such deduction or withholding Taxes. The Parties will reasonably cooperate with each other in seeking relief or reduction in the deduction or withholding of any Tax under
any double Taxation or other similar treaty or agreement from time to time in force and in seeking to receive a refund of any withholding Tax or to claim a foreign Tax credit. 

  
 87 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (e) Currency Exchange. With respect to Net Sales invoiced in U.S. dollars,
the Net Sales and the amounts due hereunder will be expressed in U.S. dollars. In the case of sales outside the United States, the rate of exchange to be used in computing the monthly amount of currency equivalent in United States Dollars due a
Party shall be made at [***]. 
 (f) Blocked Payments. In the event that, by reason of applicable Law in any country, it
becomes impossible or illegal for the paying Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying Party will promptly notify the other Party of the conditions
preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party
within a period of [***] days, in a recognized banking institution selected by the paying Party or another Selling Party, as the case may be, and identified in a written notice given to the other Party. 

(g) Interest Due. If any payment due to either Party under this Agreement is overdue (and is not subject to a good faith
dispute), then such paying Party will pay interest thereon (before and after any judgment) at an annual rate [***] of the lesser of [***] after payment of such sum became due until payment thereof in full together with such interest. 

9.6 Equity Investment. Moderna and Merck will enter into the Equity Agreement as of the Amended Effective Date. 

 

	10.	 LICENSES; EXCLUSIVITY 

10.1 Grants to Merck. 

(a) Licenses During Internal SAV Program Term and POC Term.  

(i) Subject to the terms of this Agreement, solely to the extent Merck conducts any Research activities under a given Internal
SAV Program Plan for a Merck Internal SAV Program, during the Internal SAV Program Term for such Merck Internal SAV Program, Moderna, on behalf of itself and its Affiliates, hereby grants to Merck a sublicensable (subject to Section 10.3(a)),
worldwide, co-exclusive license (with Moderna and its Affiliates), under the Moderna Technology to perform Research activities under such Internal SAV Program Plan. 

(ii) Subject to the terms of this Agreement, solely to the extent Merck has any Research, Development or Manufacturing
obligations under a given POC Plan, during the POC Term for such Program, Moderna, on behalf of itself and its Affiliates, hereby grants to Merck a sublicensable (subject to Section 10.3(a)), worldwide, co-exclusive license (with Moderna and
its Affiliates), under the Moderna Technology to perform Research or Development under such POC Plan, or to perform such Manufacturing activities set forth in such POC Plan, Supply Agreement, or Exhibit K, or as mutually agreed by the Parties
in writing; provided, for clarity, Merck will exercise its rights to Manufacture solely (A) as set forth in the applicable POC Plan, Supply Agreement, or Exhibit K, or as mutually agreed by the Parties in writing or (B) after the
occurrence of an event that obligates Moderna to effect a technology transfer to Merck for such POC Plan hereunder. 

  
 88 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) Licenses in the Event of a Merck Non-Participation. Subject
to the terms of this Agreement, in the event a Merck Non-Participation for the PCV Program occurs, then, Moderna, on behalf of itself and its Affiliates, hereby grants to Merck [***]. 

(c) Licenses Following the Merck Participation Election Date. Subject to the terms of this Agreement, including Sections
10.8, 10.10 and [***], during the Merck Participation Term for a given Program, Moderna, on behalf of itself and its Affiliates, hereby grants to Merck sublicensable (subject to Section 10.3(a)), worldwide licenses, under the Moderna
Technology, to: 
 (i) Research mRNA Cancer Vaccines for such Program, only under and in accordance with any applicable
Additional Research Plan for such Program; provided, however, that [***]; 
 (ii) Develop Collaboration Products from such
Program, under and in accordance with any applicable Joint Development Plan and Budget for such Program or Independent Additional Study Development Plan for such Program; 

(iii) Commercialize Collaboration Products from such Program in the Territory; and 

(iv) subject to Section 10.1(e), Manufacture Collaboration Products from such Program; provided, for clarity, Merck will
exercise its rights to Manufacture any Collaboration Product solely [***]; 
 Subject to Section 10.1(e), the licenses set forth in
clauses (i), (ii) and (iv) will be co-exclusive (with Moderna and its Affiliates), and the license set forth in clause (iii) will be exclusive (even as to Moderna and its Affiliates but subject to Sections 8.5 and 8.6). 

(d) Additional Licenses. Subject to the ter ms of this Agreement (including Section 3.1(d), 10.8, 10.10 and
[***] and without limiting Section 10.1(b)), Moderna, on behalf of itself and its Affiliates, hereby grants to Merck, [***]: 

(i) under [***] 

(ii) under [***] 

(iii) under [***]. 

(e) Retained Rights; Limitations. Notwithstanding the co-exclusive or exclusive licenses set forth in
Section 10.1(a) or Section 10.1(c), Moderna retains rights under the Moderna Technology to perform and to have its Affiliates, Sublicensees and Third Party subcontractors, and Third Party licensees (and Moderna will be responsible for
ensuring the performance and compliance by such Third Party licensee with the applicable terms of this Agreement as if such Third Party were “Moderna” hereunder), perform Moderna’s assigned obligations and responsibilities and
exercise its rights under this Agreement (including any Internal SAV Program Plan, POC Plan, any Additional Research Plan or any Development Plan), any Supply Agreement and any Co-Promotion Agreement, provided Moderna complies with Section 10.4
for any such Third Party subcontractors. 

  
 89 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 10.2 Grants to Moderna. 

(a) Licenses During Internal SAV Program Term and POC Term.  

(i) Subject to the terms of this Agreement, solely to the extent Moderna conducts Manufacturing activities in accordance with
the supply terms set forth in Exhibit N for a given Merck Internal SAV Program, during the Internal SAV Program Term for such Merck Internal SAV Program, Merck, on behalf of itself and its Affiliates, hereby grants to Moderna a sublicensable
(subject to Section 10.3(a)), worldwide, co-exclusive license (with Merck and its Affiliates), under the Merck Technology to perform Manufacturing activities on SAVs in accordance with the terms set forth in Exhibit N for such Merck Internal
SAV Program. 
 (ii) Subject to the terms of this Agreement, solely with respect to Moderna’s Research, Development and
Manufacturing activities under a given POC Plan or, to the extent permitted pursuant to Section 3.3(d), during the POC Term for such Program, Merck, on behalf of itself and its Affiliates, hereby grants to Moderna a sublicensable (subject to
Section 10.3(b)), worldwide, co-exclusive license (with Merck and its Affiliates), under the Merck Technology, to perform Research, Development and Manufacturing activities under the applicable POC Plan or as otherwise provided by
Section 3.3(d). 
 (b) Licenses in the Event of a Merck Non-Participation. Subject to the terms of this
Agreement, in the event a Merck Non-Participation occurs for a given Program [***] then Merck, on behalf of itself and its Affiliates, hereby grants to Moderna [***]. 

(c) Licenses Following the Merck Participation Election Date. Subject to the terms of this Agreement, including Sections
10.7, 10.10 and [***], during the Merck Participation Term for a given Program, Merck, on behalf of itself and its Affiliates, hereby grants to Moderna a sublicensable (subject to Section 10.3(b)), worldwide licenses, under the Merck
Technology, to: 
 (i) Research mRNA Cancer Vaccines for such Program, solely under and in accordance with any applicable
Additional Research Plan for such Program; provided, however, that [***]; 
 (ii) Develop Collaboration Products from such
Program, under and in accordance with any applicable Joint Development Plan and Budget for such Program or Independent Additional Study Development Plan for such Program; and 

(iii) subject to Sections 6.2 and 6.3, Manufacture Collaboration Products from such Program in accordance with the applicable
Supply Agreements. 
 Subject to Section 10.2(e), the licenses set forth in clauses (i), (ii) and (iii) will be co-exclusive
(with Merck and its Affiliates). 

  
 90 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Additional Licenses. Subject to the terms of this Agreement (including
Section 10.7), Merck, on behalf of itself and its Affiliates, hereby grants to Moderna [***]: 
 (i) under [***]; 

(ii) under [***]. 

(iii) under [***]. 

(e) Retained Rights; Limitations. Notwithstanding the co-exclusive licenses set forth in Section 10.2(a) or
Section 10.2(c), Merck retains rights under the Merck Technology to perform and to have its Affiliates, Sublicensees and Third Party subcontractors, and Third Party licensees (and Merck will be responsible for ensuring the performance and
compliance by such Third Party licensee with the applicable terms of this Agreement as if such Third Party were “Merck” hereunder), perform Merck’s assigned obligations and responsibilities and exercise its rights under this Agreement
(including any Internal SAV Program Plan, POC Plan, any Additional Research Plan or any Development Plan) or any Supply Agreement, provided Merck complies with Section 10.4 for any such Third Party subcontractors. 

10.3 Sublicensing. 

(a) Merck Sublicensing. Merck may grant sublicenses under any of the licenses granted to Merck by Moderna under
Section 10.1 or to the Rights of Reference granted under this Agreement, (1) to one or more Affiliates (with the right to sublicense through multiple tiers in accordance with this Agreement) without requiring Moderna’s prior written
consent, (2) to one or more Third Party subcontractors (in accordance with Section 10.4) of Merck (or its Affiliate) to perform the subcontracted activities, [***]; provided that[***], the grant of any such sublicense to an Affiliate or
Third Party shall not relieve Merck of its obligations under this Agreement, and Merck will be responsible for ensuring the performance and compliance by such Affiliate or Third Party with the applicable terms this Agreement as if such Affiliate or
Third Party were “Merck” and any [***] as if such Affiliate or Third Party were “Merck”, in each case, to the extent applicable to such Sublicensee; provided, further, that, as a condition precedent to and requirement of any such
sublicense to a Third Party under the foregoing clauses [***]: 
 (i) such sublicense is set forth in a written agreement;

 (ii) Merck will provide Moderna with a copy of any such sublicense agreement and each material amendment thereto within
[***] days of execution thereof, which may be redacted as necessary to protect confidential information and other commercially sensitive information; and 

(iii) such sublicense agreement shall be consistent with and subject to the applicable terms and conditions of this Agreement.

 (b) Moderna Sublicensing. Moderna may grant sublicenses under any of the licenses granted to Moderna by Merck under
Section 10.2 or Section 10.10 or to the Rights of Reference granted under this Agreement (1) to one or more Affiliates (with the right to sublicense through multiple tiers in accordance with this Agreement) without requiring
Merck’s 

  
 91 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
prior written consent, (2) to one or more Third Party subcontractors (in accordance with Section 10.4) of Moderna (or its Affiliate) to perform the subcontracted activities, [***];
provided that, [***], the grant of any such sublicense to an Affiliate or Third Party shall not relieve Moderna of its obligations under this Agreement, and Moderna will be responsible for ensuring the performance and compliance by such Affiliate or
Third Party with the applicable terms this Agreement as if such Affiliate or Third Party were “Moderna” and any Included Merck In-License as if such Affiliate or Third Party were “Moderna”, in each case, to the extent applicable
to such Sublicensee; provided, further, that, as a condition precedent to and requirement of any such sublicense to a Third Party under the foregoing clauses [***]: 

(i) such sublicense is set forth in a written agreement; 

(ii) Moderna will provide Merck with a copy of any such sublicense agreement and each material amendment thereto within [***]
days of execution thereof, which may be redacted as necessary to protect confidential information and other commercially sensitive information; and 

(iii) such sublicense agreement shall be consistent with and subject to the applicable terms and conditions of this Agreement.

 10.4 Subcontractors. Each Party may subcontract any of its Research, Development or Manufacturing activities to be
performed hereunder to an Affiliate or, solely with the prior written consent of the other Party (such consent not to be unreasonably withheld), to a Third Party; provided, however, that in all cases, such Party shall ensure that any such Third
Party permitted subcontractor will have entered into a written agreement with such Party that includes terms and conditions protecting and limiting use and disclosure of Confidential Information and Know-How at least to the same extent as under this
Agreement, and such Party shall require any such Affiliate or Third Party and its personnel to assign to such Party all right, title and interest in and to any Patents or Know-How created, conceived or discovered in connection with the performance
of any subcontracted activities; provided, however, that a Party shall be entitled to [***]. Notwithstanding the foregoing, each Party shall be permitted to (x) utilize Third Party permitted subcontractors that are identified on Exhibit
L-1 with respect to such Party, which exhibit lists the identity of the applicable Third Party subcontractor and a description of the activities that such Third Party subcontractor is authorized to perform hereunder and also with respect to
Merck any other Manufacturing Subcontractor, and (y) subcontract or otherwise agree to perform any Development activities to be performed under an Independent Additional Study Development Plan to any Third Party, in each case, without requiring
the prior written consent of the other Party, subject to Section 10.12 and also allowing for customary and reasonable provisions for the treatment of sharing of resulting data and the performance of the Independent Additional Study (other than
to any Third Party that is a direct competitor in the mRNA therapeutic/vaccine field (for example, as of the Amended Effective Date, the Third Parties listed on Exhibit L-2), which subcontract will require such other Party’s prior
written consent, such consent not to be unreasonably withheld, conditioned or delayed) and (z) Merck may subcontract any of its Commercialization activities to be performed hereunder to (1) an Affiliate or (2) a Third Party. Each
Party shall oversee the performance by any of its Affiliate or Third Party permitted subcontractors, and shall remain responsible and primarily liable for the performance of such activities in accordance with this Agreement. Each Party hereby
expressly waives any requirement that the other Party exhaust any right, power or remedy, or proceed against any subcontractor for any obligation or performance hereunder, prior to proceeding directly against the Party engaging the subcontractor.

  
 92 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 10.5 Section 365(n) of the Bankruptcy Code. All rights and
licenses granted under or pursuant to any section of this Agreement, are, and will be deemed to be for all purposes of Section 365(n) of Title 11 of the United States Code and of any similar provisions of applicable Laws under any other
jurisdiction (the “Bankruptcy Code”), rights and licenses to “intellectual property” (as defined in Section 101(35A) of the Bankruptcy Code). Each Party agrees that the other Party, as a licensee of rights and
licenses under this Agreement, will retain and may fully exercise all of its rights and elections under the Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against a Party under the
Bankruptcy Code or analogous provisions of applicable Law outside the U.S., the other Party will be entitled to a complete duplicate of, or complete access to (as appropriate), any intellectual property licensed to such other Party held by such
first Party and its successors and assigns (including all embodiments thereof), which, if not already in such other Party’s possession, will be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon such
other Party’s written request therefor, unless such first Party elects to continue to perform all of its obligations under this Agreement, or (b) if not delivered under clause (a), following the rejection of this Agreement by such first
Party in the bankruptcy proceeding upon written request therefor by such other Party. 
 10.6 Third Party In-Licenses.
The terms and conditions for the inclusion and treatment under the Collaboration of Patents and Know-How in-licensed by a Party pursuant to Third Party In-Licenses are set forth on Exhibit F. 

10.7 Moderna Exclusivity. 

(a) [***]  

(i) [***] 

(ii) [***] 

(b) mRNA-PCV Field.  

(i) During the POC Term for the PCV Program, Moderna will not, [***]. 

(ii) During the Merck Participation Term for the PCV Program, Moderna will not, [***]. 

(c) SAV Research Term Exclusivity. During the SAV Research Term, Moderna will not, [***]. 

(d) [***] Exclusivity. 

  
 93 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (i) On a Joint SAV Program-by-Joint SAV Program basis, during the POC Term
for such Joint SAV Program, [***]. 
 (ii) [***], during the Merck Participation Term for such Joint SAV Program, [***].

 (iii) [***], during the POC Term and any Merck Participation Term (as applicable) [***]. 

(iv) [***] 

(e) Exception for Business Combination.  

(i) Notwithstanding Sections [***], if a Business Combination occurs with respect to Moderna or its parent Affiliate with a
Third Party, and the Third Party (or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Moderna and its Affiliates as of the Business Combination) has as of
the Business Combination, or later has, a program (or rights thereto) that would otherwise violate any of [***] “Moderna Business Combination Program”), then [***]; provided that [***]. In addition, upon any such Business
Combination of Moderna or its parent Affiliate, the following shall apply: 
 (1) At Merck’s written election within
[***] after the closing date of such Business Combination of Moderna or its parent Affiliate, [***]; 
 (2) If, within the
period from [***] after the closing of such Business Combination until [***] of such closing, [***]. 
 (ii) In addition to
the other provisions of this Section 10.7(e), Merck shall have the right to [***]. 
 (iii) In addition,
notwithstanding [***], if (A) Moderna or its Affiliate acquires a Third Party (by merger, consolidation or otherwise) so that such Third Party becomes an Affiliate over which Moderna or its Affiliate has control (as defined in
Section 1.13), or (B) Moderna or its Affiliate acquires all or substantially all of the assets of a Third Party (including any subsidiaries or divisions thereof) (each of (A) and (B), a “Moderna Acquisition”), and, in
each case, the Third Party (or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Moderna and its Affiliates as of the Moderna Acquisition) already has, or the
acquired assets contain, as applicable, a program that existed prior to, or was substantially in the process of being implemented prior to such Moderna Acquisition and is in fact implemented shortly after such Moderna Acquisition, the Moderna
Acquisition that would otherwise violate any of [***] (a “Moderna Acquisition Program”), then Moderna or such Affiliate will, within thirty (30) days after the closing of such Moderna Acquisition, provide written notice to
Merck that Moderna or such Affiliates has rights to a Moderna Acquisition Program as a result of a Moderna Acquisition, which written notice will [***]. Alternatively, [***]. 

  
 94 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (f) Non-Restricted Activities. 

(i) The Parties hereby acknowledge and agree that Moderna’s obligations under [***] will not apply to any Research,
Development, Manufacture or Commercialization of [***]; provided that Moderna will ensure that during the Collaboration Term for the PCV Program, [***]. 

(ii) The Parties hereby acknowledge and agree that Moderna’s obligations under [***] will not apply to any of
Moderna’s or its Affiliates’ (1) internal Research activities, (2) Research activities with academic collaborators or non-profit institutions, or (3) Non-Commercial Combination Activities, in each case ((1)-(3)) that
[***]; provided that, in each case ((1)-(3)), Moderna will ensure that during the Collaboration Term for a given SAV Program, (A) [***], (B) Merck Confidential Information is [***], (C) Merck Background Technology is [***], and
(D) the licenses granted under Section 10.2(d)(i) or 10.2(d)(ii) shall not be used in the conduct of the above-referenced activities relating to [***]. 

10.8 Merck Exclusivity. 

(a) mRNA-PCV Field.  

(i) During the POC Term for the PCV Program, Merck will not, [***]). 

(ii) During the Merck Participation Term for the PCV Program, Merck will not, [***]. 

(b) SAV Research Term Exclusivity. During the SAV Research Term, [***]. 

(c) [***] Exclusivity. 

(i) [***], during the POC Term for such Joint SAV Program, [***]. 

(ii) [***], during the Merck Participation Term for such Joint SAV Program, [***]. 

(iii) [***], during the POC Term and any Merck Participation Term (as applicable[***]. 

(iv) [***] 

(d) Exception for Business Combination.  

(i) Notwithstanding Section [***], if (i) a Business Combination occurs with respect to Merck or its Affiliate with a
Third Party, and the Third Party (or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Merck and its Affiliates as of the Business Combination) has as of the
Business Combination, or later has, a program (or rights thereto) that would otherwise violate any of [***] (each, a “Merck Business Combination Program”), then [***]; provided that [***]. 

  
 95 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (ii) In addition, notwithstanding Section [***], if (A) Merck or its
Affiliate acquires a Third Party (by merger, consolidation or otherwise) so that such Third Party becomes an Affiliate over which Merck or its Affiliate has control (as defined in Section 1.12), or (B) Merck or its Affiliate acquires all
or substantially all of the assets of a Third Party (including any subsidiaries or divisions thereof) (each of (A) and (B), a “Merck Acquisition”), and, in each case, the Third Party (or any of such Third Party’s
Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Merck and its Affiliates as of the Merck Acquisition) already has, or the acquired assets contain, as applicable, a program that existed
prior to, or was substantially in the process of being implemented prior to such Merck Acquisition and is in fact implemented shortly after such Merck Acquisition, the Merck Acquisition that would otherwise violate any of [***] (a “Merck
Acquisition Program”), then Merck or such Affiliate will, within thirty (30) days after the closing of such Merck Acquisition, provide written notice to Moderna that Merck or such Affiliates has rights to a Merck Acquisition Program as
a result of a Merck Acquisition, which written notice will [***]. Alternatively, [***]. 
 (e) Non-Restricted
Activities.  
 (i) The Parties hereby acknowledge and agree that Merck’s obligations under [***] will not
apply to any Research, Development, Manufacture or Commercialization of [***]; provided that Merck will ensure that during the Collaboration Term for the PCV Program, [***]. 

(ii) The Parties hereby acknowledge and agree that Merck’s obligations under [***] will not apply to any of Merck’s
or its Affiliates’ (1) internal Research activities, (2) Research activities with academic collaborators or non-profit institutions, or (3) Non-Commercial Combination Activities, in each case ((1)-(3)) that [***]; provided
that, in each case ((1)-(3)), Merck will ensure that during the Collaboration Term for a given SAV Program, (A) [***], (B) Moderna Confidential Information is [***], (C) Moderna Background Technology is [***], and (D) the
licenses granted under Section 10.1(d) shall not be used in the conduct of the above-referenced activities relating [***]. 

10.9 No Grant of Inconsistent Rights. Neither Party nor its Affiliates shall assign, transfer, convey or otherwise grant
to any Person or otherwise encumber (including through lien, charge, security interest, mortgage, encumbrance or otherwise, but excluding liens in connection with financings) any rights to any Moderna Technology or Merck Technology (or any rights to
any intellectual property that would otherwise be included in the Moderna Technology or Merck Technology), as applicable, in any manner that is inconsistent with or would interfere with the grant of the rights or licenses to Merck or Moderna
hereunder. For the avoidance of doubt, the Parties understand and agree that the Merck Participation Election right for a given Program, as described herein, shall be [***]. 

10.10 Merck Cessation of Collaboration Activities. Notwithstanding anything to the contrary set forth herein, on a
Program-by-Program basis, at any time during the Merck Participation Term for a given Program, Merck shall have the right, but not the obligation, to elect to cease performance of activities under the Collaboration with respect to such Program upon
delivery of [***] prior written notice to Moderna (each, a “Merck Cessation Election”). Each Merck Cessation Election for a given Program shall clearly identify [***]. Subject to the terms of this Agreement, upon the exercise of a
Merck Cessation Election for a given Program, the following shall apply: 

  
 96 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (a) The Merck Participation Term, the Collaboration Term and the
Collaboration for such Program shall terminate, and all Collaboration Products from such Program then in existence will be treated thereafter as “PCVs” or “SAVs”, as applicable, under this Agreement (other than [***]). Merck
shall no longer have any licenses or other rights under this Agreement (without limiting the license grants in Section 10.1(d)) to Research, Develop, Manufacture and Commercialize Collaboration Products from such Program under this Agreement.
[***] 
 (b) Merck will prepare and provide to Moderna a draft plan for the transition of Collaboration Activities with
respect to such Program from Merck to Moderna (a “Cessation Transition Plan”), which Cessation Transition Plan will be reviewed and approved by the Parties. Each Party will use Commercially Reasonable Efforts to perform the
obligations assigned to it under the Cessation Transition Plan in accordance with the timelines set forth therein. 
 (c) The
license grants to Merck under Section 10.1(b) with respect to such Program shall terminate. Each sublicense granted by Merck to any rights licensed to it under Section 10.1(c) with respect to such Program shall terminate. The license
grants set forth in Section 10.1(d) shall continue in full force and effect. 
 (d) The license grants to Moderna under
Section 10.2(c) with respect to such Program shall terminate, and each sublicense granted by Moderna to any rights licensed under Section 10.2(c) shall terminate. Effective as of the date of the Merck Cessation Election for such Program,
Merck shall grant, and hereby does grant (without any further action on the part of either Party), on behalf of itself and its Affiliates, to Moderna a sublicensable (subject to Section 10.3(b)), worldwide, perpetual, irrevocable exclusive
license under the Merck Technology, to Research, Develop, Manufacture and Commercialize the Collaboration Products from such Program in the Territory, and the license grants set forth in Section 10.2(d) shall continue in full force and effect.

 (e) In the event of a Merck Cessation Election for the PCV Program, the exclusivity provisions in Sections [***] shall
terminate for the PCV Program. 
 (f) In the event of a Merck Cessation Election for a given Joint SAV Program, then the
exclusivity provisions in Sections [***] shall terminate with respect to such Joint SAV Program. 
 (g) At Moderna’s
election, Merck will responsibly wind-down, in accordance with accepted pharmaceutical industry norms and ethical practices, any on-going Clinical Studies with respect to Collaboration Products from such Program then in existence in [***] or, if
requested by Moderna, Merck will transfer responsibility for any such Clinical Study to Moderna, in each case in accordance with the Cessation Transition Plan. Merck will be responsible for payment of any costs associated with such wind-down or
transfer. [***]. 

  
 97 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (h) As promptly as practicable after the date of the Merck Cessation Election
for a given Program, Merck and its Affiliates shall, to the extent Merck and its Affiliates have the right to do so under applicable Law, assign and transfer to Moderna or Moderna’s designee possession and ownership of all material Regulatory
Filings, Regulatory Approvals, all final pre-clinical and Clinical Study reports and clinical study protocols, and all data, including non-clinical and Clinical Data, in each case, in Merck’s possession and Control and to the extent solely
related to Collaboration Products from such Program then in existence. All data and other information shall be transferred in the form and format in which it is maintained by Merck or its Affiliate. Original paper copies shall only be transferred,
if required by applicable Law. Merck and its Affiliates shall not be required to [***]. At Merck’s election, for such Program, Merck shall either [***]. In the event of failure to obtain assignment of any of the items required to be assigned
under this Section 10.10(h), Merck hereby consents and grants to Moderna or its designee the right to access and reference (without any further action required on the part of Merck, whose authorization to file this consent with any Regulatory
Authority is hereby granted) any such item to the extent solely related to Collaboration Products from such Program. 
 (i)
Subject to the terms of the applicable Cessation Transition Plan, Merck and its Affiliates shall [***]. 
 (j) Merck will
promptly transfer and assign to Moderna all of Merck’s and its Affiliates’ rights, title and interests in and to the trademark(s) solely used to identify the Collaboration Products from such Program then in existence (but not any house
marks, or logos or any trademark of Merck or its Affiliates, containing the word “Merck” or any such Affiliate) owned by Merck and used for the Collaboration Products from such Program then in existence. 

(k) Subject to the applicable Cessation Transition Plan, Merck will transfer to Moderna any finished goods inventory of
Collaboration Products from such Program then in existence Controlled by Merck or its Selling Parties as of the date of the Merck Cessation Election for such Program (if any) at cost for such supply. [***] [***] 

(l) For any Collaboration Product from such Program then being Developed in a Clinical Study pursuant to this Agreement in
combination with [***] or any Merck Agent that is commercially available: 
 (i) Merck will grant to Moderna a Right of
Reference [***] to continue the Development of such Collaboration Products from such Program in combination with [***]or such Merck Agent (as applicable) under appropriate Regulatory Filings or Regulatory Approvals. 

(ii) Merck shall supply [***] or such Merck Agent (as applicable) to Moderna in accordance with Exhibit K for further
Clinical Studies of such Collaboration Products from such Program in combination with [***] or such Merck Agent until Regulatory Approval for such Collaboration Product, but in any event [***]. Moderna shall provide Merck with a copy of any data
generated from any such Clinical Study for Merck’s use in connection with [***] or such Merck Agent, and in all cases, if Moderna is conducting a Clinical Study involving [***], the provisions of Section 3.4(m) shall apply mutatis
mutandis. 

  
 98 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (m) The Parties’ rights and obligations under [***] shall terminate in
full with respect to such Program and the Collaboration Products thereunder (provided that for clarity, this Agreement shall remain in full force and effect for all other Programs and Collaboration Products). [***]. In addition, on a
Program-by-Program basis, if, as of the date of the Merck Cessation Election for such Program, a Party is granting a sublicense to the other Party under an Included In-License for such Program, and such sublicense under such Included In-License
survives the Merck Cessation Election for such Program pursuant to this Section 10.10, then, (i) the Party receiving such sublicense under such Included In-License shall [***] and (ii) such Party’s rights under such Included
In-License will be subject to the terms of such Included In-License; provided that in each case of (i) and (ii), the licensor Party promptly informs the other Party of any [***]. 

(n) [***] 

10.11 [***]. 

(a) [***] 

(b) [***] 

10.12 Exclusion of Agent Intellectual Property. 

(a) Notwithstanding any other provision of this Agreement, “Moderna Background Know-How”, “Moderna Background
Patents”, “Merck Background Know-How” and “Merck Background Patents” shall not include any Know-How, Patents or other rights, and no licenses shall or are granted hereunder, with respect to [***] or any Moderna Agent, Merck
Agent or Third Party Agent, including any Agent Technology, other than [***]. 
 (b) Further, notwithstanding Sections 11.2
through 11.4, [***]. 
 10.13 Supply and Use of Materials; Cooperation. At the reasonable request of the other Party,
a Party will supply the other Party Materials Controlled by such Party for Research consistent with and in furtherance of the POC Plan, Joint Development Plan and Budget or Additional Research Plan for a given Program, as applicable. Each Party will
use any Materials provided by the other Party hereunder only in accordance with the POC Plan, Joint Development Plan and Budget or Additional Research Plan for the applicable Program, and otherwise in accordance with the terms and conditions of this
Agreement (including for clarity in connection with activities conducted by the Parties during the Merck Participation Election Period for a given Program in connection with the Research, Development, Manufacture or Commercialization of the
Collaboration Products from such Program), the use limitations agreed to by the Parties and any reasonable instructions provided by the Party furnishing the Materials. Except with the prior written consent of the supplying Party (such consent not to
be unreasonably withheld, delayed or conditioned), the Party receiving any Materials will not distribute or otherwise allow the release of such Materials to any Third Party, except for subcontracting as permitted hereunder or otherwise in connection
with the Research, Manufacture, Development and Commercialization of Collaboration Products by the Parties hereunder, to the extent consistent with the use limitations agreed to by the Parties. All Materials delivered to the receiving Party will be
used in compliance with all applicable Law. The 

  
 99 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Materials supplied under this Agreement will be used with prudence and appropriate caution in any experimental work because not all of their characteristics may be known. The receiving Party
shall not reverse engineer, reverse compile, disassemble or otherwise attempt to derive the composition or underlying information, structure or ideas of the provider’s Materials, and in particular shall not analyze the provider’s Materials
by physical, chemical or biochemical means except as necessary to perform its obligations under this Agreement. 
  

	11.	 OWNERSHIP OF TECHNOLOGY 

11.1 Disclosure. Subject to Section 6.1(e), each Party will promptly disclose to the other Party in writing, and
will cause its Affiliates and subcontractors to so disclose, the conception, creation or discovery of any Collaboration Know-How. 

11.2 Ownership of Moderna Agent Technology[***]. Subject to the license grants to Merck under this Agreement, as
between the Parties, Moderna will own and retain all right, title and interest in and to all (a) improvements, modifications, developments, enhancements and inventions arising in the performance of activities hereunder from the use of, and
specifically relating to, any Moderna Agent or their use (collectively “Moderna Agent Technology”), [***] conceived, created or discovered during the performance of Collaboration Activities. Accordingly, Merck will promptly disclose
to Moderna in writing, the conception, creation, or the discovery, of any Moderna Agent Technology, [***] by or on behalf of Merck or its Affiliates. Merck, for itself and on behalf of its Affiliates, hereby assigns (and to the extent such
assignment can only be made in the future hereby agrees to assign) to Moderna all its right, title and interest in and to any Moderna Agent Technology, [***]. Merck will cooperate, and will cause the foregoing persons and entities to cooperate, with
Moderna to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

11.3 Ownership of Merck Agent Technology [***]. Subject to the license grants to Moderna under this Agreement, as
between the Parties, Merck will own and retain all right, title and interest in and to all (a) improvements, modifications, developments, enhancements and inventions arising in the performance of activities hereunder from the use of, and
specifically relating to, Keytruda or any Merck Agent or their use (collectively, “Merck Agent Technology”) [***] conceived, created or discovered during the performance of Collaboration Activities. Accordingly, Moderna will
promptly disclose to Merck in writing, the conception, creation or discovery of any Merck Agent Technology [***] by or on behalf of Moderna or its Affiliates. Moderna, for itself and on behalf of its Affiliates, hereby assigns (and to the extent
such assignment can only be made in the future hereby agrees to assign), to Merck all its right, title and interest in and to any Merck Agent Technology [***]. Moderna will cooperate, and will cause the foregoing persons and entities to cooperate,
with Merck to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

11.4 Ownership of [***]; Joint Technology. Subject to the license grants by one Party to the other under this Agreement,
as between the Parties, all [***] conceived, created or discovered, by or on behalf of either Party or its Affiliates either alone or jointly with Third Party(ies), or by the Parties or their Affiliates jointly under or in connection with this
Agreement, 

  
 100 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
whether or not conceived, created or discovered at a facility owned or controlled by such Party and whether or not patented or patentable (including any and all Patents and other intellectual
property rights with respect thereto), will be owned in accordance with inventorship and in accordance with applicable Law in the United States. For the avoidance of doubt, subject to Section 11.6, and to the license grants in this Agreement,
the Parties will each own an equal, undivided interest in any and all Joint Technology. Each Party will, and does hereby, assign, and will cause its Affiliates and subcontractors to so assign, to the other Party, without additional compensation,
such right, title and interest in and to any Joint Technology as well as any intellectual property rights with respect thereto, as is necessary to fully effect the joint ownership provided for in the foregoing sentence of this Section 11.4.

 11.5 United States Law. The determination of whether Know-How and Patents are conceived, created or discovered by a
Party for the purpose of allocating proprietary rights (including Patent, copyright or other intellectual property rights) therein, in accordance with Section 11.4, will, for purposes of this Agreement, be made in accordance with applicable Law
in the United States. In the event that United States Law does not apply to the conception, creation or discovery of any Know-How or Patents hereunder, each Party will, and does hereby, assign, and will cause its Affiliates to so assign, to the
other Party, without additional compensation, such right, title and interest in and to any Know-How and Patents as well as any intellectual property rights with respect thereto, as is necessary to fully effect ownership as would have been determined
under U.S. Law. 
 11.6 Exploitation of Joint Technology. Each Party will exercise its ownership rights in and to the
Joint Technology, including the right to license and sublicense or otherwise to exploit, transfer or encumber its ownership interest, without an accounting or obligation to, or consent required from, the other Party, but subject to Section 12
and the license grants under this Agreement. At the reasonable written request of a Party, the other Party will in writing grant such consents and confirm that no such accounting is required to effect the foregoing regarding Joint Technology. 

11.7 No Implied Rights. No license, sublicense or other right is or will be created or granted hereunder by implication,
estoppel or otherwise. Any licenses, sublicenses or rights will be granted only as expressly provided in this Agreement. Neither Party nor any of its Affiliates will use or practice any Know-How or Patents licensed or provided to such Party or any
of its Affiliates outside the scope of or otherwise not in compliance with the rights and licenses granted to such Party and its Affiliates under this Agreement. 

11.8 Patent Prosecution, Maintenance and Enforcement. Provisions regarding the Prosecution and Maintenance of Patents,
and enforcement of Patents, are set forth in Exhibit J.  
  

	12.	 CONFIDENTIALITY 

12.1 Confidential Information. 

(a) Confidential Information. Each Party (“Disclosing Party”) may have disclosed or will disclose to
the other Party (“Receiving Party”), and Receiving Party may acquire during the course and conduct of activities under this Agreement, certain proprietary or confidential information of Disclosing Party. The term
“Confidential Information” means (i) all 

  
 101 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
proprietary tangible samples of, and confidential information about, Materials and (ii) all confidential ideas and information of any kind, whether in written, oral, graphical,
machine-readable or other form, whether or not marked as confidential or proprietary, which are transferred, disclosed or made available to Receiving Party by Disclosing Party or at the request of Receiving Party. Without limiting the foregoing, all
confidential information about (1) the Moderna Technology will be considered Confidential Information of Moderna, (2) the Merck Technology will be considered Confidential Information of Merck, (3) Joint Technology will be treated as
Confidential Information of both Parties, and (4) the Collaboration Products from a given Program will be treated as Confidential Information of both Parties during the Collaboration Term for such Program. For the avoidance of doubt, the
restrictions and limitations set forth in this Section 12 shall not limit any other restrictions or limitations set forth herein with respect to the use and disclosure of information. 

(b) Restrictions. During the Term and for [***] thereafter, Receiving Party will, and will cause its Affiliates and
their respective officers, directors, employees and agents to, keep all Disclosing Party’s Confidential Information in confidence with the same degree of care with which Receiving Party holds its own confidential information (though no less
than reasonable care). Receiving Party will not use, and will cause its Affiliates and their respective officers, directors, employees and agents not to use, Disclosing Party’s Confidential Information except for in connection with the
performance of its obligations and exercise of its rights under this Agreement. Subject to the terms of this Agreement, Receiving Party has the right to disclose Disclosing Party’s Confidential Information without Disclosing Party’s prior
written consent, to the extent and only to the extent reasonably necessary or useful, to Receiving Party’s Affiliates and their employees, subcontractors, Sublicensees, consultants or agents who have a need to know such Confidential Information
in order to perform its obligations and exercise its rights under this Agreement and who are required to comply with restrictions on use and disclosure similarly restrictive as those in this Section 12.1(b). Receiving Party will use [***] to
cause those entities and persons to comply with such restrictions on use and disclosure. Notwithstanding the foregoing sentence, Receiving Party assumes responsibility for those entities and persons maintaining Disclosing Party’s Confidential
Information in confidence and using same only for the purposes described herein. 
 (c) Exceptions. Receiving
Party’s obligation of nondisclosure and the limitations upon the right to use the Disclosing Party’s Confidential Information set forth in Section 12.1(b) will not apply to the extent that Receiving Party can demonstrate that the
Disclosing Party’s Confidential Information: (i) was known to Receiving Party or any of its Affiliates prior to the time of disclosure; (ii) is or becomes public knowledge through no fault or omission of Receiving Party or any of its
Affiliates; (iii) is obtained by Receiving Party or any of its Affiliates from a Third Party under no obligation of confidentiality to Disclosing Party; or (iv) has been independently developed by employees, subcontractors, consultants or
agents of Receiving Party or any of its Affiliates without the aid, application or use of Disclosing Party’s Confidential Information, as evidenced by contemporaneous written records. Notwithstanding the foregoing, (A) any Confidential
Information will not be deemed to be within the foregoing exceptions merely because such information is embraced by more general information in the public domain or in the possession of the Receiving Party or any of its Affiliates, and (B) any
combination of features will not be deemed to be within the foregoing exceptions merely because individual features are in the public domain or in the possession of the Receiving Party or any of its Affiliates, but only if the combination itself and
its principle of operation are in the public domain or in the possession of the Receiving Party or any of its Affiliates. 

  
 102 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Permitted Disclosures. Receiving Party may disclose Disclosing
Party’s Confidential Information to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 

(i) in order to comply with applicable Law or with a legal or administrative proceeding; 

(ii) in connection with (a) prosecuting or defending litigation or (b) the Prosecution and Maintenance of Patents in
accordance with this Agreement; 
 (iii) in connection with exercising any rights or other licenses under this Agreement,
including [***]; 
 (iv) in the case of Merck, [***]; and 

(v) in the case of Moderna, [***]. 

In the case of a disclosure pursuant to (A) Sections [***], where reasonably possible, Receiving Party will notify Disclosing Party of
Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure [***], and (B) with respect to [***], each of those named people and entities are required to comply [***], the Receiving Party
assumes responsibility for those entities and persons maintaining Disclosing Party’s Confidential Information in confidence and using same only for the purposes described herein. 

12.2 Publications. The Parties may desire to publish in scientific journals and present at scientific conferences the
results of the Collaboration Activities, subject to the following process. Notwithstanding anything to the contrary herein, either Party may propose publication of the results of the Collaboration Activities following scientific review by the JSC
(if in force); provided, that no such publication will be made without written approval by Moderna and Merck. After receipt of the proposed publication by both Merck and Moderna, such written approval or disapproval will be provided within
[***] days. Both Parties understand that a reasonable commercial strategy may require delay of publication of information or filing of Patent applications, therefore the Parties agree to review and consider delay of publication and filing of patent
applications under certain circumstances for a reasonably limited period of time. Once publications have been reviewed by each Party and have been approved for publication, the same publications do not have to be provided again to the other Party
for review for a later submission for publication. Expedited reviews for abstracts or poster presentations may be arranged if mutually agreeable to the Parties. Each Party will acknowledge the other Party’s technical, non-financial
contributions in any such publication. 

  
 103 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 12.3 Terms of this Agreement; Publicity. 

(a) Restrictions. The Parties agree that the terms of this Agreement and the Equity Agreement will be treated as
Confidential Information of both Parties, and thus may be disclosed only as permitted by Section 12.1(d). Each Party will also be permitted to disclose the terms of this Agreement and any Supply Agreement (including the exhibits hereto and
thereto), in each case under appropriate confidentiality provisions, on a need to know basis, to a Party’s (and its Affiliates’) existing investors and equity holders and to [***], provided that (1) the disclosing Party agrees to
redact information that it reasonably believes is not relevant to the proposed transaction, and (2) [***]. Except as required by applicable Law, each Party agrees not to issue any press release or public statement disclosing information
relating to this Agreement, the transactions contemplated hereby or any of the terms hereof without the prior written consent of the other Party (such consent not to be unreasonably withheld, delayed or conditioned), or as such consent may be
obtained in accordance with Section 12.1(c), or as permitted by Section 12.1(d). 
 (b) Securities Filings; Law.
Each Party acknowledges and agrees that the other Party may submit this Agreement (including for clarity, the Exhibits and Schedules hereto) to the United States Securities and Exchange Commission (the “SEC”) or any other securities
exchange and if a Party does submit this Agreement to the SEC or any other securities exchange, such Party agrees to consult with the other Party with respect to the preparation and submission of, a confidential treatment request for this Agreement.
If a Party is required by applicable Law to make a disclosure of the terms of this Agreement in a filing with or other submission to the SEC or any other securities exchange or otherwise to comply with Law, and (i) such Party has provided
copies of the disclosure to the other Party as far in advance of such filing or other disclosure as is reasonably practicable under the circumstances, (ii) such Party has promptly notified the other Party in writing of such requirement and any
respective timing constraints, and (iii) such Party has given the other Party a reasonable amount of time under the circumstances from the date of notice by such Party of the required disclosure to comment upon, request confidential treatment
or approve such disclosure, then such Party will have the right to make such public disclosure at the time and in the manner reasonably determined by its counsel to be required by Law. [***] 

(c) Press Releases. Neither Party may issue any press release or make any other public announcement or statement
concerning this Agreement, the transactions contemplated hereby or the terms hereof, without the prior written approval of the other Party, except as may be required by applicable Law. In the event either Party (the “Issuing Party”)
desires to issue a press release or other public statement disclosing information relating to this Agreement, the transactions contemplated hereby or the terms hereof, the Issuing Party will provide the other Party (the “Reviewing
Party”) with a copy of the proposed press release or public statement (the “Release”) and seek the Reviewing Party’s prior written consent; provided that no such consent shall be required for press releases or other
public statements required by Law (but the Issuing Party shall still provide the Reviewing Party with a copy of the Release for comment in accordance with this Section 12.3(c)). The Issuing Party will specify with each such Release, taking into
account the urgency of the matter being disclosed, a reasonable period of time within which the Receiving Party may provide any comments on such Release and if the Receiving Party fails to provide any comments during the response period called for
by the Issuing Party, the Reviewing Party will be deemed to have not consented to the issuance of such Release. If the Receiving Party provides any comments, the Parties will consult on such Release and work in good faith to prepare a mutually
acceptable Release. Either Party may subsequently publicly disclose any information previously contained in any Release so consented to. 

  
 104 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Joint Press Release. The Parties agree to issue the joint press
release in Exhibit I promptly following Antitrust Clearance Date; provided that (i) if either Party reasonably believes that there should be revisions to the form of press release in Exhibit I as a result of events or
circumstances occurring after the Amended Effective Date but prior to the issuance of such press release, then prior to the issuance of the joint press release, the Parties will work in good faith and mutually agree on revisions to the joint press
release in Exhibit I to reflect such events or circumstances and (ii) prior to the issuance of the joint press release in Exhibit I, either Party shall have the right, upon notice to the other Party, to propose revisions to any
quotes from such Party’s personnel in the press release set forth in Exhibit I, and the other Party shall not unreasonably withhold consent to such revisions. 
  

	13.	 REPRESENTATIONS AND WARRANTIES; LIMITATIONS OF LIABILITY; INDEMNIFICATION; COVENANTS

 13.1 Representations and Warranties of Each Party. Each Party represents and warrants to the
other as of the Effective Date and as of the Amended Effective Date that: 
 (a) Such Party is duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is organized. 
 (b) Such Party (i) has the
legal right and power to enter into this Agreement, to extend the rights granted or to be granted to the other in this Agreement, and to fully perform its obligations hereunder, including to grant the licenses set forth herein, and (ii) has
taken all requisite action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal,
valid and binding obligation, enforceable against such Party in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization or other laws affecting creditors’ rights generally and by general equitable
principles. 
 (c) Neither such Party nor its Affiliates has been debarred or is subject to debarment. Neither it nor its
Affiliates will use in any capacity, in connection with the services to be performed under this Agreement, any person who has been debarred pursuant to Section 306 of the Act, or who is the subject of a conviction described in such section. In
addition, neither it nor its Affiliates has used in any capacity, in connection with any Research or Development activities with respect to the mRNA Technology or any Collaboration Product included hereunder carried out prior to the Amended
Effective Date, any person who has been debarred or was the subject of a conviction described in Section 306 of the Act. Such Party agrees to inform the other Party in writing immediately if it or any person who is performing services under
this Agreement is debarred or is the subject of a conviction described in Section 306 of the Act, or if any action, suit, claim, investigation or legal or administrative proceeding is pending or, to the best of such Party’s or its
Affiliates’ Knowledge, is threatened, relating to the debarment or conviction of such Party or any person performing services under this Agreement. 

(d) All necessary consents, approvals and authorizations of all governmental authorities and other Persons required to be
obtained by such Party to enter into, or perform its obligations under, this Agreement have been obtained. 

  
 105 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (e) The execution and delivery of this Agreement and the performance of such
Party’s obligations hereunder (i) will not conflict with or violate any requirement of applicable Law or orders of governmental bodies, (ii) do not conflict with, or constitute a default under, any contractual obligation of such Party
and (iii) do not conflict with or violate any provision of the corporate charter, by-laws or other organizational documents of such Party. 

13.2 Additional Representations of Moderna. Moderna represents and warrants to Merck that as of the Effective Date and
the Amended Effective Date; provided, for clarity, that Moderna has made representations and warranties with respect to SAVs solely as of the Amended Effective Date: 

(a) there are no actions, judgments or settlements against or owed by Moderna (or any of its Affiliates) and to Moderna’s
Knowledge, no threatened claims or litigation relating to the Moderna Background Patents and/or Moderna Background Know-How; 

(b) Schedule 1.235 sets forth a true, correct and complete list of Moderna Background Patents and such schedule contains
all application numbers and filing dates, registration numbers and dates, jurisdictions and owners. [***] 
 (c) to
Moderna’s Knowledge (i) all Patents within the Moderna Background Patents have been procured or are being procured from the respective patent offices in accordance with applicable Law, and (ii) the issued Patents within the Moderna
Background Patents are not invalid or unenforceable, in whole or in part; 
 (d) it (and its Affiliates) has not prior to the
Amended Effective Date (i) assigned, transferred or conveyed its right, title and/or interest in Moderna Background Patents or Moderna Background Know-How, or (ii) otherwise granted any rights to any Third Parties that would, in the case
of clauses (i) and/or (ii), conflict with the rights granted to Merck hereunder, and, to Moderna’s Knowledge, there is no unauthorized use, infringement or misappropriation of any Moderna Background Patent or Moderna Background Know-How;

 (e) it or its Affiliate is the sole and exclusive owner of the Moderna Background Patents and Moderna Background Know-How,
all of which are as of the Amended Effective Date free and clear of any liens, charges and encumbrances (excluding those entered into the ordinary course of financing its business), and no other Person has as of the Amended Effective Date any claim
of ownership whatsoever with respect to the Moderna Background Patents and Moderna Background Know-How; 
 (f) [***] 

(g) [***] 

(h) there are no agreements to which Moderna or its Affiliates are a party (including any licenses), granting any licenses or
other rights to (or from) Moderna (or any of its Affiliates) relating to the Research, Development, Manufacture and Commercialization of mRNA Cancer Vaccines (including Collaboration Products) as contemplated hereunder; and 

(i) [***] 

(j) [***] 

  
 106 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 13.3 Additional Representations of Merck. Merck represents and
warrants to Moderna that as of the Effective Date and the Amended Effective Date; provided, for clarity, that Merck has made representations and warranties with respect to SAVs solely as of the Amended Effective Date: 

(a) there are no actions, judgments or settlements against or owed by Merck (or any of its Affiliates) and to Merck’s
Knowledge, no threatened claims or litigation relating to the Merck Background Patents and/or Merck Background Know-How; 

(b) [***] 

(c) [***] 

(d) there are no agreements to which Merck or its Affiliates are a party (including any licenses), granting any licenses or
other rights to (or from) Merck (or any of its Affiliates) relating to the Research, Development, Manufacture or Commercialization of mRNA Cancer Vaccines (including Collaboration Products) as contemplated hereunder. 

13.4 Disclaimers. WITHOUT LIMITING THE RESPECTIVE RIGHTS AND OBLIGATIONS OF THE PARTIES EXPRESSLY SET FORTH HEREIN, EACH
PARTY SPECIFICALLY DISCLAIMS ANY GUARANTEE THAT THE COLLABORATION ACTIVITIES OR ANY MRNA CANCER VACCINE OR COLLABORATION PRODUCT WILL BE SUCCESSFUL, IN WHOLE OR IN PART. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT OR ANY SUPPLY
AGREEMENT, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED (AND EACH PARTY HEREBY EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES NOT EXPRESSLY PROVIDED IN THIS AGREEMENT), INCLUDING
WITH RESPECT TO ANY MRNA TECHNOLOGY, MRNA CANCER VACCINE TECHNOLOGY, PATENTS OR KNOW-HOW, MRNA CANCER VACCINES OR COLLABORATION PRODUCTS, INCLUDING WARRANTIES OF VALIDITY OR ENFORCEABILITY OF ANY PATENTS, TITLE, QUALITY, MERCHANTABILITY, FITNESS FOR
A PARTICULAR USE OR PURPOSE, PERFORMANCE, AND NONINFRINGEMENT OF ANY THIRD PARTY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. 

13.5 No Consequential Damages. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT, EXCEPT FOR DAMAGES DUE TO THE FRAUD OR
WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE LIABLE PARTY, NEITHER PARTY WILL BE LIABLE TO THE OTHER OR ANY THIRD PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH
PARTY HAS BEEN INFORMED OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, THAT THIS SECTION 13.5 WILL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER SECTION 13.6. 

  
 107 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 13.6 Indemnification and Liability. 

(a) Indemnification by Merck. Merck will indemnify Moderna, its Affiliates and their respective directors, officers,
employees and agents, and their respective successors, heirs and assigns (collectively, “Moderna Indemnitees”), and defend and save each of them harmless, from and against any and all losses, damages, liabilities, 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”) arising
from or occurring as a result of: [***], except in each case [***] for those Losses and Third Party Claims for which Moderna has an obligation to indemnify Merck pursuant to Section 13.6(b) (or would have had such Third Party Claim been made
against Merck under this Agreement), as to which Losses each Party will indemnify the other to the extent of their respective liability; provided, that Merck will not be obligated to indemnify Moderna Indemnitees for any Losses or Third Party Claims
to the extent that such Losses or Third Party Claims arise as a result of gross negligence or willful misconduct on the part of a Moderna Indemnitee or breach of this Agreement by Moderna. 

(b) Indemnification by Moderna. Moderna will indemnify Merck, its Affiliates and their respective directors, officers,
employees and agents, and their respective successors, heirs and assigns (collectively, “Merck 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 arising from or occurring as a result of: [***] except in each case ((i)-(vii)) for those Losses and Third Party Claims for which Merck has an obligation to indemnify Moderna pursuant to Section 13.6(a) (or would have had such Third
Party Claim been made against Moderna under this Agreement), as to which Losses each Party will indemnify the other to the extent of their respective liability for the Losses; provided, that Moderna will not be obligated to indemnify Merck
Indemnitees for any Losses or Third Party Claims to the extent that such Losses or Third Party Claims arise as a result of gross negligence or willful misconduct on the part of an Merck Indemnitee or breach of this Agreement by Merck. 

(c) Notice of Claim. All indemnification claims provided for in Section 13.6(a) and Section 13.6(b) will be
made solely by such Party to this Agreement (the “Indemnified Party”). The Indemnified Party will promptly notify the indemnifying Party (an “Indemnification Claim Notice”) of any Losses or the discovery of any fact
upon which the Indemnified Party intends to base a request for indemnification under Section 13.6(a) or Section 13.6(b), but in no event will 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 estimated amount of such Loss (to the extent that the nature and amount of such Loss is known at such time). The Indemnified Party will furnish
promptly to the indemnifying Party copies of all papers and official documents received in respect of any Losses and Third Party Claims. Notwithstanding the foregoing, any delay or failure to provide any notices or copies pursuant to this
Section 13.6(c) shall not constitute a waiver or release of, or otherwise limit, the Indemnified Party’s rights to indemnification under this Section 13.6 except to the extent that such delay or failure materially prejudices the
indemnifying Party’s ability to defend against the relevant claims. 

  
 108 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Defense, Settlement, Cooperation and Expenses. 

(i) At its option, the indemnifying Party may assume the defense of any Third Party Claim by giving written notice to the
Indemnified Party within [***] days after the indemnifying Party’s receipt of an Indemnification Claim Notice. The assumption of the defense of a Third Party Claim by the indemnifying Party will 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 will 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 (the indemnifying Party will consult
with the Indemnified Party with respect to a possible conflict of interest of such counsel retained by the indemnifying Party). In the event the indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party will 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 13.6(d)(ii), the indemnifying Party will not be liable to the Indemnified Party for any legal costs or expenses subsequently incurred by such Indemnified Party in connection with the analysis, defense or settlement of the
Third Party Claim. [***] 
 (ii) Without limiting Section 13.6(d)(i), any Indemnified Party will 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 will be at the Indemnified Party’s own cost and expense unless [***]. 

(iii) With respect to any Third Party Claims that relate solely to the payment of money damages in connection with a Third
Party Claim and that will not result in the Indemnified Party’s becoming subject to injunctive or other relief or otherwise adversely affecting the business of the Indemnified Party in any manner, and as to which the indemnifying Party will
have acknowledged in writing the obligation to indemnify the Indemnified Party hereunder, the indemnifying Party will have the sole right to agree 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, will 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 13.6(d)(i), the indemnifying Party will have authority to agree to the entry of any judgment, enter into any settlement or otherwise dispose of such Loss provided it obtains the prior written consent of the Indemnified Party (such
consent not to be unreasonably withheld, delayed or conditioned). The indemnifying Party will not be liable for any settlement or other disposition of a Loss by an Indemnified Party that is reached without the prior written consent of the
indemnifying Party. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, no Indemnified Party will admit any liability with respect to or settle, compromise or discharge, any Third Party Claim without
the prior written consent of the indemnifying Party, such consent not to be unreasonably withheld, delayed or conditioned. 

  
 109 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (iv) If the indemnifying Party chooses to defend or prosecute any Third
Party Claim, the Indemnified Party will, and will cause each other Indemnified Party to, cooperate in the defense or prosecution thereof and will 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 will include access during normal business hours afforded to 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 will reimburse the Indemnified Party for all its reasonable out-of-pocket costs and expenses in connection therewith. 

(v) Except as provided above in this Section 13.6(d), the reasonable and verifiable costs and expenses, including
attorneys’ fees and expenses, incurred by the Indemnified Party in connection with any claim will be reimbursed on a Calendar Quarter basis 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. 

13.7 Insurance. Each Party will maintain at its sole cost and expense, an adequate liability insurance or self-insurance
program (including product liability insurance) to protect against potential liabilities and risk arising out of activities to be performed under this Agreement, and any agreement related hereto and upon such terms (including coverages, deductible
limits and self-insured retentions) as are customary in the U.S. pharmaceutical industry, or, if such activities are conducted outside the U.S., as are customary in such country, for the activities to be conducted by such Party under this Agreement.
The coverage limits set forth herein will not create any limitation on a Party’s liability to the other under this Agreement. Each Party shall provide the other Party with written evidence of such insurance upon request. Each Party shall
provide the other Party with written notice at least [***] days prior to the cancellation, non-renewal or material change in such insurance or self-insurance which materially adversely affects the rights of the other Party hereunder. 

13.8 Covenants of Moderna. Moderna hereby covenants that Moderna shall throughout the Term: 

(a) [***] 

(b) [***] 
  

	14.	 TERM AND TERMINATION 

14.1 Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated by mutual written
consent, will continue on a Program-by-Program basis (a) if Merck exercises the Merck Participation Election for such Program, until the date on which both Parties cease Researching, Developing, Manufacturing or Commercializing mRNA Cancer
Vaccines (including the Collaboration Products) from such Program without the intention to resume, and (b) if Merck does not exercise the Merck Participation Election for such Program or 

  
 110 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
if Merck exercises the Merck Cessation Election for such Program, until the date on which Moderna and its Affiliates cease Researching, Developing, Manufacturing or Commercializing Financial PCVs
or Financial SAVs, as applicable, with respect to such Program without the intention to resume (each, a “Program Term”). This Agreement shall expire in full upon the later of (i) the end of the SAV Research Term and
(ii) the expiration of all Program Terms (the “Term”). Notwithstanding the foregoing, the Parties shall make an HSR Filing under the Equity Agreement, and this Agreement shall terminate and the Original Agreement shall be
reinstated in full without any amendments or modifications (A) at the election of either Party, immediately upon notice to the other Party, in the event that the FTC or the DOJ obtains a preliminary injunction under the HSR Act against the
Parties to enjoin the transactions contemplated by the Equity Agreement or (B) at the election of either Party, immediately upon notice to the other Party, in the event that the Antitrust Clearance Date has not occurred on or prior to ninety
(90) days after the submission of the HSR Filing. As used herein: (1) “FTC” means the United States Federal Trade Commission, (2) “DOJ” means the Antitrust Division of the United States of America
Department of Justice, and (3) “Antitrust Clearance Date” means the earliest date on which the Parties have actual knowledge that all applicable waiting periods under the HSR Act with respect to the transactions contemplated by
this Agreement have expired or have been terminated. 
 14.2 No Termination; Right to Seek Damages. 

(a) In further consideration of the payments by Merck and the significant contributions by each Party, neither Party shall have
any right to terminate this Agreement except as expressly set forth herein and the Parties hereby agree and acknowledge that the foregoing is reasonable and necessary to protect the legitimate interests of each Party. 

(b) Notwithstanding anything to the contrary in this Agreement (including Sections 14.2(a) and [***]), in addition to all
rights and remedies of the Parties under this Agreement, each Party shall be entitled to seek damages (including reasonable attorneys’ fees and expenses) or other equitable remedies (including pursuant to Section 15.2), at Law or
otherwise, with respect to any material breach of this Agreement by the other Party. 
 14.3 [***]  

14.4 [***] 

14.5 Certain Additional Consequences. For the avoidance of doubt, notwithstanding anything to the contrary contained
herein (other than to the extent of the exclusive licenses granted by Merck to Moderna with respect to Collaboration Products, and without any licenses or other rights in or to any Moderna Technology or Confidential Information of Moderna (except as
set forth in Sections 10.1(b) and 10.1(d))), (i) in the event of a Merck Non-Participation or Merck Cessation Election, in each case, with respect to a given Program, Merck and Affiliates [***]. 

  
 111 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 14.6 Return of Confidential Information. Except as otherwise necessary
to continue exercising any ongoing licenses under this Agreement, with respect to a given Program, upon the Merck Non-Participation, the [***], the Merck Cessation Election, or the end of the Program Term, in each case, with respect to such Program,
the Parties will return (or destroy or erase, as directed by the other Party) all data, files, records and other materials containing or comprising the other Party’s Confidential Information with respect to such Program [***]. In addition,
except as otherwise necessary to continue exercising any ongoing licenses under this Agreement, upon expiration of this Agreement, the Parties will return (or destroy or erase, as directed by the other Party) all data, files, records and other
materials containing or comprising the other Party’s Confidential Information. Notwithstanding the foregoing, (i) in respect of physical embodiments of information, the Parties will be permitted to retain one copy of such data, files,
records, and other materials for non-commercial archival purposes, and (ii) in respect of any information stored electronically or in other non-physical media, it will be sufficient for such Party to procure that access to such information is
restricted to non-commercial archiving purposes only. 
 14.7 Survival. In addition to [***], as applicable, the
following provisions will survive expiration of this Agreement: [***]. Expiration of this Agreement will not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such termination or expiration nor
preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity with respect to any breach of this Agreement. All other rights and obligations will terminate upon expiration of this Agreement. 

 

	15.	 GENERAL PROVISIONS 

15.1 Dispute Resolution. 

(a) Disputes. Disputes of any nature arising under, relating to, or in connection with this Agreement
(“Disputes”) will be resolved pursuant to this Section 15.1. 
 (b) Dispute Escalation. In the event
of a Dispute between the Parties, the Parties will first attempt to resolve such dispute by negotiation and consultation between themselves or the JSC. In the event that such dispute is not resolved on an informal basis within [***] days from
receipt of the written notice of a Dispute, any Party may, by written notice to the other (or with respect to a Dispute arising at the JSC, by the JSC within [***] days after the JSC first considers such Dispute in accordance with
Section 2.4(c)), have such dispute referred to the Executive Officers (or their designee, which designee is required to have decision-making authority on behalf of such Party), who will attempt to resolve such Dispute by negotiation and
consultation for a [***] day period following receipt of such written notice. 
 (c) Full Arbitration. 

(i) In the event the Parties have not resolved such Dispute within [***] of receipt of the written notice referring such
Dispute to the Executive Officers, either Party may at any time after such [***] period submit such Dispute to be finally settled by arbitration administered in accordance with the procedural rules of the American Arbitration Association
(“AAA”) in effect at the time of submission, as modified by this Section 15.1(c). The arbitration will be governed by the Laws of the state of New York. The arbitration will be heard and determined by three (3) arbitrators
who are retired judges or attorneys with at least [***] of relevant experience in the pharmaceutical and biotechnology industry, each of whom will be impartial and independent. Each Party will appoint one (1) arbitrator and the third (3rd) arbitrator will be selected by the two (2) Party-appointed arbitrators, or, failing agreement within [***] following appointment of the second arbitrator, by AAA. Such arbitration will
take place 

  
 112 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
in [***]. The arbitration award so given will be a final and binding determination of the dispute, will be fully enforceable in any court of competent jurisdiction, and will not include any
damages expressly prohibited by Section 13.5. Fees, costs and expenses of arbitration are to be divided by the Parties in the following manner: Merck will pay for the arbitrator it chooses, Moderna will pay for the arbitrator it chooses, and
the Parties will share payment for the third arbitrator. Except in a proceeding to enforce the results of the arbitration or as otherwise required by applicable Law, neither Party nor any arbitrator may disclose the existence, content or results of
any arbitration hereunder without the prior written consent of both Parties (each such consent not to be unreasonably withheld, delayed or conditioned). 

(ii) In addition to the foregoing provisions of this Section 15.1(c), in the event that a provision of this Agreement
requires “Special Arbitration”, then the following rules will apply with respect to the Dispute that is subject to Special Arbitration: Within [***] of the appointment of the third (3rd) arbitrator, each Party will submit to
the arbitrators in writing its final proposal for resolving the matter that is the subject of such Dispute (“Dispute Proposal”) and any relevant background information and materials it deems appropriate. In connection with reaching
its decision, the arbitrators may (A) order the Parties to produce any documents or other information that are relevant to the arbitrators’ decision, and (B) if the arbitrators deem it necessary, set a date for a hearing no later than
[***] Business Days (or such other period of time as agreed to by the Parties) after submission of the last Dispute Proposal, to be attended by both Parties with each Party having the right to be represented by counsel of its choice. The arbitrators
will determine which of the two Dispute Proposals submitted by the Parties will prevail in the Special Arbitration in the best interest of the applicable Collaboration Product(s), and will not have authority to render any other substantive decision.
The Dispute Proposal selected by the arbitrators shall be binding on the Parties (and, to the extent such Dispute Proposal amends a Plan or budget for a given Program, such Plan or budget shall be deemed amended to the effect of such selected
Dispute Proposal, as applicable). Such decision will be rendered by the arbitrators no later than [***] Business Days after the later of (x) receipt by the arbitrators of the Parties’ Dispute Proposals as set forth in this
Section 15.1(c), or (y) the conclusion of any hearing conducted pursuant to clause (B) above. The Parties will use diligent efforts to cause the completion of any such arbitration within [***] following the initiating Party’s
written notice to submit the Dispute to Special Arbitration (or such longer period of time as the Parties may mutually agree). 

(d) Injunctive Relief. Notwithstanding the dispute resolution procedures set forth in this Section 15.1, in the
event of an actual or threatened breach of this Agreement, the aggrieved Party may seek provisional equitable relief (including restraining orders, specific performance or other injunctive relief), without first submitting to any dispute resolution
procedures hereunder. 
 (e) Tolling. The Parties agree that all applicable statutes of limitation and time-based
defenses (such as estoppel and laches) will be tolled while the dispute resolution procedures set forth in this Section 15.1 are pending, and the Parties will cooperate in taking all actions reasonably necessary to achieve such a result. 

  
 113 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 15.2 Cumulative Remedies and Irreparable Harm. All rights and remedies
of the Parties hereunder will be cumulative and in addition to all other rights and remedies provided hereunder or available by agreement, at law or otherwise. Each Party acknowledges and agrees that breach of any of the terms or conditions of this
Agreement may cause irreparable harm and damage to the other and that such damage may not be ascertainable in money damages and that as a result thereof the non-breaching Party would be entitled to seek on an interim basis from a court and on a
permanent basis from an arbitral tribunal equitable or injunctive relief restraining any breach or future violation of the terms contained herein by the breaching Party without the necessity of proving actual damages or posting bond. Such right to
equitable relief is in addition to whatever remedies either Party may be entitled to as a matter of law or equity, including money damages. 

15.3 Business Combination. Notwithstanding anything to the contrary herein, in the event of an acquisition of a Party by
a Significant Third Party as part of a Business Combination, then for purposes of this Agreement, [***]. “Significant Third Party” means a Third Party [***]. 

15.4 Relationship of Parties. Nothing in this Agreement is intended or will be deemed to constitute a partnership,
agency, employer-employee or joint venture relationship between the Parties. No Party will incur any debts or make any commitments for the other, except to the extent, if at all, specifically provided herein. There are no express or implied Third
Party beneficiaries hereunder. 
 15.5 Compliance with Law. Each Party will perform or cause to be performed any and
all of its obligations or the exercise of any and all of its rights hereunder in good scientific manner and in compliance with all applicable Law. 

15.6 Force Majeure. Neither Party will be liable to the other for failure of or delay in performing obligations set
forth in this Agreement, and neither will be deemed in breach of such obligations, if such failure or delay is due to natural disasters or any causes reasonably beyond the control of such Party; provided, that the Party affected will promptly notify
the other of the force majeure condition and will exert reasonable efforts to eliminate, cure or overcome any such causes and to resume performance of its obligations as soon as possible. 

15.7 Governing Law. This Agreement will be governed by and construed in accordance with the Laws of the state of New
York, without respect to its conflict of laws rules or principles that might otherwise refer construction or interpretation of this Agreement to the substantive Law of another jurisdiction; provided, that any dispute relating to the scope,
validity, enforceability or infringement of any Patents will be governed by, and construed and enforced in accordance with, the substantive Laws of the jurisdiction in which such Patents apply. The Parties agree to exclude the application to this
Agreement of the United Nations Convention on Contracts for the International Sale of Goods. 
 15.8 Counterparts;
Facsimiles. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, and all of which together will be deemed to be one and the same instrument. Facsimile or PDF execution and delivery of this
Agreement by either Party will constitute a legal, valid and binding execution and delivery of this Agreement by such Party. 

15.9 Headings. All headings in this Agreement are for convenience only and will not affect the meaning of any provision
hereof. 

  
 114 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 15.10 Waiver of Rule of Construction. Each Party has had the
opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement will be construed against the drafting party will not apply.

 15.11 Interpretation. Whenever any provision of this Agreement uses the term “including” (or
“includes”), such term will be deemed to mean “including without limitation” (or “includes without limitations”). “Herein,” “hereby,” “hereunder,” “hereof” and other equivalent
words refer to this Agreement as an entirety and not solely to the particular portion of this Agreement in which any such word is used. Except where the context otherwise requires, whenever used, the singular will include the plural, the plural the
singular, the use of any gender will be applicable to all genders and the word “or” is used in the inclusive sense (and/or). Unless otherwise provided, all references to Sections, Schedules and Exhibits in this Agreement are to Sections,
Schedules and Exhibits of this Agreement. References to any Sections include Sections and subsections that are part of the related Section (e.g., a section numbered “Section 2.1” would be part of “Section 2”, and references to
“Section 2.1” would also refer to material contained in the subsection described as “Section 2.1(a)”). Citations to a statute or regulation will be deemed to mean such statute or regulation and any amendment or supplement thereto
or any replacement thereof. As used herein “$” or “dollars” means United States Dollars. 
 15.12
Binding Effect. This Agreement will inure to the benefit of and be binding upon the Parties, their Affiliates, and their respective lawful successors and assigns. 

15.13 Assignment. 

(a) Generally. This Agreement may not be assigned by either Party, nor may either Party delegate its obligations or
otherwise transfer any licenses granted herein or other rights created by this Agreement, except as expressly permitted hereunder, without the prior written consent of the other Party, which consent will not be unreasonably withheld, delayed or
conditioned; provided, that either Party may assign this Agreement (i) in whole or in part, to an Affiliate (provided that the Party assigning to an Affiliate will remain fully liable for any acts or omissions, including financial liabilities,
of such Affiliate) or (ii) in whole to such Party’s successor in connection with the merger, consolidation, sale of all or substantially all of its assets or that portion of its business pertaining to the subject matter of this Agreement,
or any Business Combination of such Party, in each case, without the consent of the other Party. The rights and obligations of the Parties under this Agreement will be binding upon and inure to the benefit of the successors and permitted assigns of
the Parties, and the name of a Party appearing herein will be deemed to include the name of such Party’s successors and permitted assigns to the extent necessary to carry out the intent of this Section 15.13. Any attempted assignment not
in accordance with this Section 15.13(a) will be void. 
 (b) Additional Confidentiality Procedures. In
the event Moderna or any Affiliate of Moderna that does work hereunder or is in possession of Confidential Information of Merck undergoes a Business Combination, neither Merck nor any Affiliate of Merck shall be required to assign to Moderna any
right, title or interest in or to any [***] conceived, created or discovered following such Business Combination.  

  
 115 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 15.14 Extension to Affiliates. Each Party shall have the right to
extend the rights, licenses, immunities and obligations granted or imposed in this Agreement to one or more of its Affiliates to perform certain activities hereunder. All applicable terms and provisions of this Agreement shall apply to any such
Affiliate to which this Agreement has been extended to the same extent as such terms and provisions apply to such Party. Each Party shall remain fully liable for any acts or omissions, including financial liabilities, of such
Affiliates. To the extent that this Agreement imposes obligations on any Affiliates of a Party, such Party agrees to cause its Affiliates to perform such obligations. 

15.15 Notices. All notices, requests, demands and other communications required or permitted to be given pursuant to
this Agreement will be in writing and will be deemed to have been duly given upon the date of receipt if delivered by hand, recognized international overnight courier, confirmed facsimile transmission, or registered or certified mail, return receipt
requested, postage prepaid to the following addresses or facsimile numbers: 
  

			
	 If to Moderna:
	  	 ModernaTX, Inc.

200 Technology Square
 Cambridge,
MA 02139
 Attention: Chief Executive Officer

		
	 With a copy to:
	  	 ModernaTX, Inc.

200 Technology Square
 Cambridge, MA
02139
 Attention: General Counsel

		
	 If to Merck:
	  	 Merck Sharp & Dohme Corp.

One Merck Drive
 Whitehouse Station, NJ
08889-0100
 Attention: Office of Secretary
 Facsimile No.:
(908) 735-1246

		
	 With a copy to:
	  	 Merck Sharp & Dohme Corp.

2000 Galloping Hill Road
 PO Box 539

Mailstop K-1-4161
 Kenilworth, NJ 07033-1310

Attention: Senior Vice President, Business Development

 Either Party may change its designated address and facsimile number by notice to the other Party in the
manner provided in this Section 15.15. 
 15.16 Amendment and Waiver. This Agreement may be amended,
supplemented, or otherwise modified only by means of a written instrument signed by both Parties; provided, that any unilateral undertaking or waiver made by one Party in favor of the other will be enforceable if undertaken in a writing
signed by the Party to be charged with the undertaking or waiver. Any waiver of any rights or failure to act in a specific instance will relate only to such instance and will not be construed as an agreement to waive any rights or fail to act in any
other instance, whether or not similar. 

  
 116 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 15.17 Severability. In the event that any provision of this Agreement
will, for any reason, be held to be invalid or unenforceable in any respect, and if the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (a) such provisions will be given no
effect by the Parties and will not form part of this Agreement, (b) all other provisions of this Agreement will remain in full force and effect, and (c) the Parties will negotiate in good faith to modify this Agreement to preserve (to the
extent possible) their original intent. 
 15.18 Entire Agreement. This Agreement, together with any other agreement
executed or to be executed in connection herewith, including the Equity Agreement, Supply Agreements, Quality Agreements, Co-Promotion Agreements (if any), POC Pharmacovigilance Agreement and the Pharmacovigilance Agreement, sets forth the complete,
final and exclusive agreement with respect to the subject matter hereof and supersedes all other agreements and understandings between the Parties with respect to the subject matter hereof (including the Mutual Confidential Disclosure Agreement
(dated February 27, 2013, as amended on December 10, 2015)) as it relates to cancer vaccines using mRNA. For the avoidance of doubt, this Agreement and the transactions contemplated hereby do not amend, restate, supplement or otherwise
modify any of the terms or conditions of any other agreement between the Parties, including the 2015 Collaboration Agreement, the 2016 CSA and any other agreements entered into pursuant to the 2015 Collaboration Agreement or 2016 CSA. The 2015
Collaboration Agreement and the 2016 CSA shall remain in full force and effect in accordance with their respective terms and conditions. 

15.19 HSR Act. Each of Merck and Moderna shall prior to the election of any rights set forth in Section 3.5(c) if
legally required submit to the United States Federal Trade Commission and the Antitrust Division of the United States Department of Justice, any HSR Filing required of it under the HSR Act, which forms shall specifically request early termination of
the initial HSR Act waiting period; provided further that each of Merck and Moderna shall, prior to the election of any rights set forth in Section 3.5(c) if legally required, make any other applicable competition or antitrust law filing with
any other governmental authority (“ex-U.S. Antitrust Filing”). The Parties will cooperate with one another to the extent necessary in the preparation of any such HSR Filing and ex-U.S. Antitrust Filing. The Parties hereto commit to
instruct their respective counsel to cooperate with each other and use good faith, diligent efforts to facilitate and expedite the identification and resolution of any such issues and, consequently, the expiration of the applicable HSR Act waiting
period or applicable clearances or approvals under any other applicable non-U.S. antitrust or competition law, such good faith diligent efforts to include counsel’s undertaking: (i) to keep each other appropriately informed of
communications received from and submitted to personnel of the reviewing antitrust authority; and (ii) to confer with each other regarding appropriate contacts with and response to personnel of the United States Federal Trade Commission and the
Antitrust Division of the United States Department of Justice or other applicable competition or antitrust governmental authority. Each Party will be responsible for its own costs, expenses and filing fees associated with any HSR Filing or other
ex-U.S. Antitrust Filing. In respect of any HSR Filing or ex-U.S. Antitrust Filing, each of Merck and Moderna will use its good faith, diligent efforts to eliminate any concern on the part of any 

  
 117 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
court or governmental authority regarding the legality of the proposed transaction, including cooperating in good faith with any government investigation and the prompt production of documents,
information and witnesses requested in the course of any such investigation, including those contained in a Request for Additional Information and Documentary Materials (as that term is defined in the HSR Act) or equivalent legal requirements under
any other non-U.S. competition or antitrust law. Nothing in this Section shall require either Party to consent to the divestiture or other disposition of any of its or its Affiliates’ assets or to consent to any other structural or conduct
remedy, and each Party and its Affiliates shall have no obligation to contest, administratively or in court, any ruling, order or other action of the United States Federal Trade Commission and the Antitrust Division of the United States Department
of Justice, any non-US antitrust or competition law authority or any Third Party respecting the transactions contemplated by this Agreement. The Parties shall not make any election described in Section 3.5(c) of this Agreement until all
applicable competition or antitrust approvals, clearances or decision (including under the HSR Act and any other applicable competition or antitrust laws) are obtained or any applicable waiting periods have expired or terminated. 

[Remainder of this Page Intentionally Left Blank] 

  
 118 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 IN WITNESS WHEREOF, the Parties have caused this Amended and Restated mRNA
Cancer Vaccine Collaboration and License Agreement to be executed by their respective duly authorized officers as of the Amended Effective Date. 
  

			
	MODERNATX, INC.
		
	By:	 	/s/ Stéphane Bancel
		 	 (Signature)

	Name:	 	 Stéphane Bancel

	 Title:
	 	 CEO

  

			
	MERCK SHARP & DOHME CORP.
		
	By:	 	/s/ Benjamin Thorner
		 	 (Signature)

	Name:	 	 Benjamin Thorner

	Title:	 	 SVP & Head of BD&L

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT A-1 

POC Plan for PCV Program 
 [***]

  
 A-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT A-2 

POC Plan for KRAS Program 

[***] 
  

			
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

 [***] 
  

			
	 [***]

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

	 •  [***]
	  	 •   [***]

	 •   [***]
	  	 •   [***]

	 •   [***]
	  	 [***]

	 [***]
	  	 [***]

	 •   [***]
	  	 •  [***]

	 •   [***]
	  	 •   [***]

	 •  [***]
	  	 •   [***]

	 •  [***]
	  	 •   [***]

 [***] 

  
 A-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT A-3 

Research Plan for [***] 
 [***]

  
 A-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT B 

Financial Definitions 

“Additional Regulatory Costs” means costs incurred: [***]. 
  

	 	a)	 “Allowable Commercialization Costs” means the internal costs (i.e. FTE Costs) and
Out-of-Pocket Costs actually incurred by or on behalf of a Party or its Affiliates or Sublicensees, that are [***] including [***]: [***] 

  

	 	b)	 [***] 

  

	 	c)	 [***] 

  

	 	d)	 [***] 

  

	 	e)	 [***] 

  

	 	f)	 [***] 

  

	 	g)	 [***], 

in each case (except in the case of [***] to the extent such costs are consistent with, during the Merck Participation Term for a given Joint
SAV Program or the PCV Program, the Global Commercialization Plan and the Global Commercialization Budget for such Joint SAV Program or the PCV Program or otherwise approved by the JSC, plus Permitted Overages. [***]The Parties agree that Allowable
Commercialization Costs will not include costs or expenses of a Party or its Affiliates or Sublicensees to the extent: [***]. 
 No expense
included in an Allowable Commercialization Cost shall also be included in other costs in the calculations of Moderna Net Profits or Cash Profits or Losses. 

“Allowable Development Costs” means, with respect to a Joint Development Plan and Budget, or Additional Research Plan, in
each case for a given Joint SAV Program or the PCV Program, the Development Costs actually incurred by or on behalf of a Party or its Affiliates or Sublicensees with respect to such Joint Development Plan and Budget or Additional Research Plan that
are consistent with the applicable budget [***] or otherwise approved by the JSC, plus Permitted Overages. Allowable Development Costs shall not include costs or expenses of a Party or its Affiliates or Sublicensees to the extent: [***]. 

“Cash Profits or Losses” has the meaning set forth in Exhibit D. In the case where Cash Profits or Losses is positive,
it shall be referred to as “Cash Profits”, and in the case where Cash Profits or Losses is negative, it shall be referred to as “Cash Losses”. 

“Commercial Liabilities” means, on a country-by-country basis, any Losses incurred by or on behalf of a Party or its
Affiliates or Sublicensees in connection with a Third Party Claim in connection with the Research, Development, Commercialization or Manufacture of a Collaboration Product, including [***]. For purposes of Exhibit E, Commercial Liabilities
shall also apply to Losses incurred by or on behalf of Moderna or its Affiliates or Sublicensees mutatis mutandis with respect to each Financial PCV or Financial SAV, as applicable. 

“Cost of Goods Sold” with respect to each mRNA Cancer Vaccine (including a Collaboration Product), means [***].
Notwithstanding the foregoing, with respect to each mRNA Cancer Vaccine (including a Collaboration Product), to the extent there [***]. 

  
 B-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 “Credit Against Profits Mechanism” means each mechanism detailed in
(a) Paragraph 4 of Section B of Exhibit D, with respect to the Profit & Loss Share and (b) Paragraph 11 of Exhibit E, with respect to the Non-Participation PCV Net Profit Share, Non-Participation SAV Net
Profit Share, PCV Cessation Net Profit Share or SAV Cessation Net Profit Share, as applicable. 
 “Development Costs” means
all internal costs (i.e. FTE Costs) and Out-of-Pocket Costs actually incurred by or on behalf of a Party (or its Affiliates or Sublicensees) and that [***], to the extent set forth in the budget within the Additional Research Plan, the Joint
Development Plan and Budget or an Independent Additional Study Development Plan, in each case for a given Joint SAV Program or the PCV Program, including: 
  

	 	(a)	 [***] 

  

	 	(b)	 [***] 

  

	 	(c)	 [***] 

  

	 	(d)	 [***] 

  

	 	(e)	 [***] 

  

	 	(f)	 [***] 

(g) those Patent and Trademark Expenses incurred for the Prosecution and Maintenance of Patents (which shall not be subject to
the budget requirements above); 
 (h) [***] 

[***]With respect to the foregoing, any internal costs shall be calculated based on the number of FTEs used to perform the applicable activity
multiplied by the FTE Rate. For purposes of Exhibit E, Development Costs shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees mutatis mutandis with respect to each Financial PCV or Financial
SAV, as applicable. 
 “Direct Marketing Expenses” means all internal costs (i.e. FTE Costs) and Out-of-Pocket Costs
actually incurred by or on behalf of a Party [***]: 
  

	 	(a)	 [***] 

  

	 	(b)	 [***] 

  

	 	(c)	 [***] 

  

	 	(d)	 [***] 

  

	 	(e)	 [***] 

  

	 	(f)	 [***] 

  

	 	(g)	 [***] 

  

	 	(h)	 [***] 

  

	 	(i)	 [***] 

  

	 	(j)	 [***] 

  

	 	(k)	 [***] 

  
 B-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

	 	(l)	 [***] 

  

	 	(m)	 [***] 

  

	 	(n)	 [***] 

  

	 	(o)	 [***] 

  

	 	(p)	 [***] 

  

	 	(q)	 [***] 

  

	 	(r)	 [***] 

Direct Marketing Expenses shall not include any Selling Expenses and the costs of activities that promote a Party’s business as a whole
without being product specific (e.g., corporate image advertising). For purposes of Exhibit E, Direct Marketing Expenses shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees mutatis
mutandis with respect to each Financial PCV or Financial SAV, as applicable. 
 “Distribution Expenses” with respect to
each Collaboration Product, means [***]. For purposes of Exhibit E, Distribution Expenses shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees mutatis mutandis with respect to each Financial
PCV or Financial SAV, as applicable. 
 “Financial PCV” means [***].  

“Financial SAV” means, [***]. 

“Gross Profit” means, with respect to a Collaboration Product, Net Sales of a Collaboration Product less Cost of Goods Sold
for such Collaboration Product. For purposes of Exhibit E, Gross Profit shall apply mutatis mutandis with respect to each Financial PCV or Financial SAV, as applicable. 

“IAS Costs” means Development Costs incurred with respect to any Independent Additional Study for a Collaboration Product
subject to the applicable Independent Additional Study Plan. 
 [***] 

[***] 
 [***] 

“Indirect Marketing Expenses” with respect to each Collaboration Product, means [***]. For purposes of Exhibit E,
Indirect Marketing Expenses shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees with respect to each Financial PCV or Financial SAV, as applicable, mutatis mutandis. 

[***] 
 [***] 

  
 B-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 “Manufacturing Costs” shall consist of “U.S. GAAP Standard Cost”
and “Product Specific Manufacturing Variances” as defined below. Notwithstanding the foregoing, for purposes of Exhibit D and Exhibit E as used in Cost of Goods Sold, Manufacturing Costs will not include [***]. For purposes
of Exhibit E, Manufacturing Costs shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees with respect to each Financial PCV or Financial SAV, as applicable, mutatis mutandis. 

“Medical Affairs Costs” means all internal costs (i.e. FTE Costs) and Out-of-Pocket Costs actually incurred by or on
behalf of a Party [***]. For purposes of Exhibit E, Medical Affairs Costs shall also apply to costs incurred by or on behalf of Moderna or its Affiliates or Sublicensees with respect to each Financial PCV or Financial SAV, as applicable,
mutatis mutandis. 
 [***] 
 “Merck
Reimbursement Cap” has the meaning set forth in Exhibit E. 
 “Moderna Commercialization Costs” means, on a
Program-by-Program basis for a given Joint SAV Program or the PCV Program, all Shared Commercialization and Related Manufacturing Costs [***], including [***]. All provisions and principles set forth in the definition of Allowable Commercialization
Costs and [***] shall apply to Moderna Commercialization Costs, mutatis mutandis. 
 “Moderna Costs Report” has the meaning set
forth in Exhibit E. 
 “Moderna Development Costs” means, on a Program-by-Program basis for a given Joint SAV
Program or the PCV Program, all Shared Development and Related Manufacturing Costs [***], including [***]. All provisions and principles set forth in the definition of Allowable Development Costs and [***] shall apply to Moderna Development Costs,
mutatis mutandis. 
 “Moderna Net Profits” means, with respect to Financial PCVs or Financial SAV, as applicable,
Gross Profits from such Financial PCVs or Financial SAV, as applicable, less the Moderna Commercialization Costs and Moderna Development Costs for such Financial PCVs or Financial SAV, as applicable. For clarity, costs that are included in one
category of costs shall not be deducted a second time in calculating any other costs that are deducted in calculating Moderna Net Profits. 
 [***] 

“Non-Participation PCV Net Profit Share” shall have the meaning set forth in Exhibit E. 

“Non-Participation SAV Net Profit Share” shall have the meaning set forth in Exhibit E. 

“Other Operating Income/Expense” means the following items, [***]: 
  

	(a)	 [***] 

  

	(b)	 [***] 

  
 B-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

	 	(c)	 [***] 

  

	 	(d)	 [***] 

  

	 	(e)	 [***] 

  

	 	(f)	 [***] 

  

	 	(g)	 [***] 

“Out-of-Pocket Costs” means costs and expenses paid to Third Parties by or on behalf of Moderna or its Affiliates or
Sublicensees or Merck or its Affiliates or Sublicensees [***] in accordance with the budget set forth in, the POC Plans (including POC Capacity PCV Buildup Plan), Development Plan(s), Additional Research Plans, Global Commercialization Plan(s),
Incremental Capacity Buildup Plans or Commercial Capacity Buildup Plans, as applicable. 
 “Patent and Trademark Expenses”
means the reasonable, documented, out of pocket fees and expenses of outside counsel [***], and filing and maintenance expenses, [***] incurred in connection with (i) the Prosecution and Maintenance of [***]; and (ii) any trademark
applications or registered trademarks used in connection with the Commercialization of any Collaboration Product, including [***]. For purposes of Exhibit E, Patent and Trademark Expenses shall also apply to costs incurred by or on behalf of
Moderna or its Affiliates or Sublicensees mutatis mutandis with respect to each Financial PCV or Financial SAV, as applicable. 
 “PCV
Cessation Net Profit Share” has the meaning set forth in Exhibit E. 
 [***] 

“Product Specific Manufacturing Variances” means [***]. 

“Profitability Date” means, with respect to a given Joint SAV Program or the PCV Program, the last day of the Calendar
Quarter during which the quarterly Cash Profits or Losses (as defined in Exhibit D) from such Program are positive (i.e., greater than zero, [***] or the Moderna Net Profits for such Program are positive (i.e., greater than
zero), as applicable. 
 [***] 
 “Reconciliation
Report” has the meaning set forth in Exhibit D. 
 “SAV Cessation Net Profit Share” has the meaning set forth in Exhibit
E. 
 “Selling Expenses” means, with respect to a Collaboration Product, all costs and expenses associated with [***]. 

“Shared Commercialization and Related Manufacturing Costs” means Allowable Commercialization Costs and [***]. 

  
 B-6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 “Shared Collaboration Costs” means the Shared Development and Related
Manufacturing Costs and the Shared Commercialization and Related Manufacturing Costs. 
 “Shared Costs Report” has the
meaning set forth in Exhibit D. 
 “Shared Development and Related Manufacturing Costs” means Allowable Development
Costs and [***]. 
 “Shared Profits or Losses” has the meaning set forth in Exhibit D. In the case where Shared
Profits or Losses is positive, it shall be referred to as “Shared Profits”, and in the case where Shared Profits or Losses is negative, it shall be referred to as “Shared Losses”. 

“Sublicensee” as used in this Exhibit B, and Exhibit D and Exhibit E, means [***]. 

“Testing Costs” means the costs that are [***]. For purposes of Exhibit E, Testing Costs shall apply to costs incurred
by or on behalf of Moderna or its Affiliates or Sublicensees with respect to each Financial PCV or Financial SAV, as applicable, mutatis mutandis. 

“U.S. GAAP Standard Cost” means, if applicable, the following with respect to such product: 

 

	 	(a)	 [***] 

  

	 	(b)	 [***] 

  

	 	(c)	 [***] 

  

	 	(i)	 [***] 

  

	 	(ii)	 [***] 

  

	 	(iii)	 [***] 

  

	 	(iv)	 [***] 

	 	(v)	 [***] 

  

	 	(vi)	 [***] 

  

	 	(vii)	 [***] 

  

	 	(viii)	 [***] 

  

	 	(ix)	 [***] 

  

	 	(d)	 [***] 

  

	 	(i)	 [***] 

  

	 	(ii)	 [***] 

  

	 	(iii)	 [***] 

  

	 	(iv)	 [***] 

	 	(v)	 [***] 

  

	 	(vi)	 [***] 

  

	 	(vii)	 [***] 

  

	 	(viii)	 [***] 

  

	 	(ix)	 [***] 

[***] 

The U.S. GAAP Standard Cost will be established each Calendar Year for the upcoming year according to the forecast for
requirements for such product. 

  
 B-7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT C 

Relative Commercial Value 

If a Selling Party intends to sell a Combination Product, then the following shall apply: 

1. With respect to sales of Combination Products, Net Sales shall be calculated on a country-by-country basis as follows: 

 

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

  

	 	2.	 [***] 

  

	 	3.	 [***] 

(a) The Parties shall meet approximately [***] prior to the anticipated First Commercial Sale of such Combination Product in
the Territory to negotiate in good faith and agree to [***] (the “Relative Commercial Value”). [***] 
  

	 	(b)	 [***]. 

  
 C-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT D 

Exercise of Merck Participation Election – Profit & Loss Share 

This Exhibit D to the Agreement covers financial planning, accounting policies and procedures to be followed in
determining the Profit & Loss Share and the cost sharing between the Parties. The Profit & Loss Share shall be calculated on a Program-by-Program basis for a given Joint SAV Program or the PCV Program. The Profit & Loss
Share is not a legal entity and has been defined for identification purposes only.  
 A. Profit & Loss Share

  

	1.	 Principles of Reporting. 

1.1 The presentation of results of operations of the Parties will include each of the following line items (as each is
defined in Exhibit B or elsewhere in the Agreement) be based on each Party’s respective financial information presented separately and on a consolidated basis in the reporting format depicted as follows (the
“P&L”): 
  

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

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

 1.2 Effect of Commercial Grants. 

1.2.1 In connection with a Commercial Grant: (a) such Third Party receiving the Commercial Grant [***], and
(b) Sublicense Income received by such Party and its Affiliates from such Third Party will [***], unless [***]. 

1.2.2 The treatment of a Commercial Grant under [***] pursuant to the foregoing Paragraph 1.2.1 of this Section A of
Exhibit D with respect to Commercial Grants by a Party or any of its Affiliates in [***] will require the prior written consent of the other Party, [***]. 

1.2.3 Any Commercial Grant may include rights to Manufacture and Develop to support Commercialization in the country(ies) of
such Commercial Grant, but the Parties do not intend for Commercial Grants to be used to Develop or Manufacture the applicable Collaboration Product(s) more generally. 

  
 D-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.3 It is the intention of the Parties to interpret definitions to be
consistent with this Exhibit D and GAAP (except for Cost of Goods Sold given the exclusion of depreciation of certain assets in the calculation of Manufacturing Costs). Where costs included in the foregoing calculation are determined based on either
Party’s system of cost or project accounting, each Party agrees to provide reasonable supporting documentation, as may be requested by the other Party, to ensure that each Party’s methodologies are reasonable and consistently applied. To
the extent that such costs are not readily determinable based on the respective Party’s system of cost or project accounting, the JSC will develop a reasonable methodology for determining such costs. Reasonable methodologies may include a
standard rate or some other appropriate basis for allocating costs. For reconciliation, billing and reporting hereunder, any costs included in the P&L incurred in a currency other than U.S. dollars will be translated into U.S. dollars in
accordance with Section 9.5(e) of the Agreement. 
 1.4 If necessary, a Party will make the appropriate
adjustments to the financial information it supplies under this Exhibit D to conform to the above format of reporting results of operation. 

1.5 Principles: 

1.5.1 In calculating the revenues and costs in this Exhibit D, the following principles shall apply: 

(a) There shall be no double counting of any costs or expenses or of any revenues, and to the extent a cost or expense has
been included in one category or sub-category, it shall not be included in another; similarly, to the extent any revenue has been taken into account in one category or sub-category it shall not be taken into account in another. 

(b) To the extent an item of income or revenue is received by a Party or a cost or expense is incurred in a given Calendar
Quarter by a Party, and can be demonstrated [***]. 
 (c) To the extent any cost by a Party has applicability to both
the Collaboration Product and to any other product, a portion of such costs will be [***] allocated by such Party to the Collaboration Product in good faith; provided the other Party shall have the right to dispute such allocation in good faith and
request additional information prior to including such cost as a Shared Collaboration Cost under this Exhibit D. In addition, to the extent any cost by a Party has applicability to more than one Program, a portion of such costs will be [***]
allocated by such Party to each applicable Program in good faith; provided the other Party shall have the right to dispute such allocation in good faith and request additional information prior to including such cost as a Shared Collaboration Cost
for the applicable Program under this Exhibit D. 
 (d) All costs and expenses shall be determined, and all
calculations shall be made, in accordance with GAAP, as applicable, and consistent with the Parties internal cost allocation practices used in connection with pharmaceutical products owned or controlled solely by each Party without requirement to
share profits or significant royalties with any Third Party, and further consistent with the same policies and principles as it utilizes consistently within its group and business units when making internal cost allocations. 

  
 D-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Without limiting the foregoing, if either Party in good faith believes that
the methodology set forth herein does not accurately reflect the revenues and costs for a Collaboration Product, Program or otherwise for the Collaboration, upon request of such Party, the Parties shall in good faith discuss such concerns and, if
the Parties mutually agree upon acceptable revisions to the methodologies set forth herein, they shall amend Exhibit B, Exhibit D or Exhibit E, as appropriate. For clarity, the foregoing principles shall also apply to the costs
and expenses calculated in Exhibit E mutatis mutandis. 
  

	2.	 Cash Profits or Losses and Shared Collaboration Costs. 

2.1 If Merck elects the Merck Participation Election for a given Program, each Party is entitled to fifty percent
(50%) of the Cash Profits or Losses from such Program for a given [***] subject to this Exhibit D. 

2.2 Certain Exclusions from Shared Collaboration Costs. To the extent any Manufacturing Costs are incurred by a
Party due to [***] by such Party, then such Manufacturing Costs shall be borne solely by such Party and shall not be included in Cost of Goods Sold to be included in the Shared Costs Report hereunder.  

3. Audits. The record keeping and audit provisions set forth in Section 9.5(c) of the Agreement will apply with respect to all
amounts payable by either Party to the other Party under the Profit & Loss Share. 
 4. Reporting of Shared Costs. Within
[***] days after the end of [***], each Party shall provide the other Party with a detailed activity-based summary statement (with supporting documentation [***] of the Shared Collaboration Costs and Costs of Goods Sold incurred by or on behalf of
such Party (or its Affiliate or Sublicensee) in such [***], as applicable (each, a “Shared Costs Report”). [***] 
 5.
Reporting of Net Sales. On a [***] basis, Merck will provide to Moderna an estimate of gross sales and Net Sales of such Collaboration Product in U.S. dollars during the prior [***] and units of such Collaboration Product sold during such
period according to Merck’s sales reporting system, which will be consistent with the financial planning, accounting and reporting procedures set forth in this Exhibit D. Each such report will be provided as early as possible, but no
later than [***] days after the last day of the [***] in question, and will separately provide [***] figures. The Parties understand that all Net Sales of Collaboration Products will be booked in accordance with GAAP and otherwise in accordance with
the definition of Net Sales. 
 6. Reconciliation. Subject to the remainder of this Exhibit D, within [***] days after the end
of [***], each Party will provide to the other a written report setting forth the calculations of aggregate Net Sales and aggregate costs under the Shared Costs Report for such [***] received or funded by such Party. Within [***] days after receipt
of such reports, the Parties will agree on a consolidated written report (the “Reconciliation Report”) setting forth the calculations of each Party’s share of such aggregate Net Sales and aggregate costs under the Shared Costs
Report and the net amount that would be owed from one Party to the other Party to effectuate, subject to Paragraph 6.1 of this Section A of Exhibit D, an equal share of the resulting Cash Profits or Losses between the Parties. Such net
amount would then be adjusted in accordance with Paragraph 17 of Section B of this Exhibit D. 

  
 D-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 6.1 [***] 

[***] 
  

									
	 [***]
	  	 [***]

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

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

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

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

 7. Payment. Any undisputed net payment owed from one Party to the other Party in order for the Parties
to share equally all such costs in the Shared Costs Report, other than [***], shall be paid within [***] days following completion of such Reconciliation Report and an invoice therefor [***]; provided, that [***]. 

8. Budgets and Overages. Each Party shall use Commercially Reasonable Efforts to ensure that the actual costs associated with the
performance of activities allocated to it in the Additional Research Plan, Joint Development Plan and Budget, Global Commercialization Plan, Incremental Capacity Buildup Plan and Commercial Capacity Buildup Plan (if applicable), in each case for the
applicable Program, in a Calendar Year do not exceed [***] of the budgeted costs allocated to such Party for such Calendar Year as set forth in the budget for each applicable plan. Costs for the performance of all activities described in the
applicable plan and budget and allocated to a given Party that exceed the estimated allocated costs therefor as set forth in the budget by up to [***] shall be referred to herein as the “Permitted Overage”, and such costs shall be
included as Shared Development and Related Manufacturing Costs or Shared Commercialization and Related Manufacturing Costs, as applicable. If either Party believes that the actual costs in relation to its activities allocated to a given Party in a
Calendar Year will exceed the allocated budget as set forth in the applicable plan and budget (plus the Permitted Overage) for all such activities allocated to such Party during such Calendar Year, such Party may request the JSC to review and
approve such activities and the costs thereof before undertaking such excess cost. In the event that the JSC does not approve an increase in the 

  
 D-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
budget for such activity, then [***]. For clarity, any costs incurred by or on behalf of a Party (or its Affiliates) that are in excess of the budget (plus the Permitted Overage) for such costs
as set forth in the applicable Joint Development Plan and Budget, Global Commercialization Plan, Incremental Capacity Buildup Plan, Additional Research Plan or Commercial Capacity Buildup Plan, in each case, for the applicable Program, shall be
[***]. 
 9. Recording of Costs; Reports. Each Party shall keep records associated with Development Costs incurred through performance
of the Joint Development Plan and Budget for the applicable Program strictly separate from records associated with Development Costs incurred through performance of an Independent Additional Study Development Plan. Unless otherwise agreed by the
JSC, the financial data in the Shared Costs Report will include calculations in local currency and United States Dollars (converted into United States Dollars in accordance with Section 9.5(e) of the Agreement). The JSC shall approve the form
of any necessary documentation relating to any payments hereunder in connection with the Joint Development Program, Additional Study Development Plan, Global Commercialization Plan, Incremental Capacity Buildup Plan, or Commercial Capacity Buildup
Plan, as applicable, so as to afford the Parties appropriate accounting treatment in relation to any of the transactions or payments contemplated hereunder. 

10. Expense Reduction. The Parties agree to cooperate in identifying and implementing opportunities to reduce the costs incurred in the
conduct of each Joint Development Plan and Budget, Additional Study Development Plan, Global Commercialization Plan or Incremental Capacity Buildup Plan or Commercial Capacity Buildup Plan, as applicable, including costs of equipment, consumables
such as laboratory supplies and Third Party services such as toxicology, clinical studies or manufacturing services, provided such cooperation does not unduly delay or hamper a Party in the performance of its activities thereunder. 

11. Effective Accounting Date Termination. The Profit & Loss Share for a given Program shall continue until the earlier of the
last day of the month following the effective date of (a) the expiration of the Agreement with respect to such Program, or (b) the exercise of the Merck Cessation Election for such Program pursuant to Section 10.10 of the Agreement.
For clarity, following the discontinuation of the Profit & Loss Share for a given Program pursuant to subsection (b) above, the terms of Exhibit E shall apply. Termination of the Profit & Loss Share shall not relieve
either Party from its obligation to share Shared Collaboration Costs (including any Commercial Liabilities) relating to the period up to the date of termination or expiration. 
  

	12.	             [***] 

 

	 	            12.1	 [***] 

  

	13.	 [***] 

  

	            [***]	  

  

	14.	             [***] 

 

	 	            (a) [***]	 

  
 D-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (b) [***]  

i. [***] 

ii. [***] 

iii. [***] 

iv. [***] 

(c) [***] 
  

	15.	 [***] 

  

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

  

	16.	 [***] 

16.1 [***] 

16.2 [***] 
 17.
Credit Against Profits Mechanism. The Credit Against Profits Mechanism with respect to the Profit & Loss Share shall operate as follows: 

17.1 [***] 

17.1.1 [***] 

17.1.2 [***] 

17.2 [***] 

17.2.1 [***] 

  
 D-6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

	 	17.2.2  	 [***] 

  

	 	17.3	 [***]  

 

	 	17.4	 [***] 

	18.	 [***]  

  

	 	18.1	 [***] 

  

	 	18.1.1	   [***] 

 

	 	18.1.2	   [***] 

 

	 	18.2	 [***] 

  

	 	18.2.1	   [***] 

 

	 	18.2.2	   [***] 

 

	19.	 [***] 

  

	20.	 [***]. 

  
 D-7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT E 

Economic Effects of Merck Non-Participation and 

Merck Cessation of Collaboration Activities 

This Exhibit E to the Agreement covers financial planning, accounting policies and procedures to be followed in
determining the economic effects and the cost sharing between the Parties in the following situations: (i) a Merck Non-Participation for a given Joint SAV Program or the PCV Program or (ii) a Merck Cessation Election for a given Joint SAV
Program or the PCV Program. For the avoidance of doubt, this Exhibit E shall apply and be calculated on a Program-by-Program basis.  

A. Merck Non-Participation for the PCV Program 

    The provisions of this Section A of Exhibit E (i.e., Paragraphs 1-13 of this Exhibit E) shall apply only to
Financial PCVs. 
 1. Allocation of Moderna Net Profits and Costs. 

1.1 In the event of a Merck Non-Participation for the PCV Program pursuant to Section 3.7(a) of the Agreement, subject to
[***]this Exhibit E, Merck shall be entitled to [***] (the “Non-Participation PCV Net Profit Share”). 

1.2 [***] 
 2.
Principles of Reporting. 
 2.1 The presentation of results of operations of Moderna with respect to Financial
PCVs will include each of the following line items (as each is defined in Exhibit B or elsewhere in the Agreement) be based on Moderna’s financial information presented separately and on a consolidated basis in the reporting format
depicted as follows: 
  

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

 2.2 Effect of Commercial Grants. With respect to Financial PCVs, the following shall
apply: 
 2.2.1 In connection with a Commercial Grant: (a) such Third Party receiving the Commercial Grant [***], and
(b) [***] shall apply, unless [***]. 

  
 E-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.2.2 The treatment of a Commercial Grant under [***] pursuant to the
foregoing Paragraph 2.2.1 of this Exhibit E with respect to Commercial Grants by a Party or any of its Affiliates in [***] will require the prior written consent of the other Party, [***]t. 

2.2.3 Any Commercial Grant may include rights to Manufacture and Develop to support Commercialization in the country(ies) of
such Commercial Grant, but the Parties do not intend for Commercial Grants to be used to Develop or Manufacture the applicable Collaboration PCV Product(s) more generally. 

2.3 It is the intention of the Parties to interpret definitions to be consistent with this Exhibit E and GAAP
(except for Cost of Goods Sold given the exclusion of depreciation of certain assets in the calculation of Manufacturing Costs). Where costs included in the foregoing calculation are determined based on Moderna’s system of cost or project
accounting, Moderna agrees to provide reasonable supporting documentation, as may be requested by Merck, to ensure that Moderna’s methodologies are reasonable and consistently applied. To the extent that such costs are not readily determinable
based on Moderna’s system of cost or project accounting, the Parties will mutually develop a reasonable methodology for determining such costs. Reasonable methodologies may include a standard rate or some other appropriate basis for allocating
costs. For reconciliation, billing and reporting hereunder, any costs included in the above table incurred in a currency other than U.S. dollars will be translated into U.S. dollars in accordance with Section 9.5(e) of the Agreement.

 2.4 If necessary, Moderna will make the appropriate adjustments to the financial information it supplies under
this Exhibit E to conform to the above format of reporting results of operation. 
 3. Audits. The record keeping and
audit provisions set forth in Section 9.5(c) of the Agreement will apply with respect to all amounts payable by Moderna to Merck under this Exhibit E. 

4. Reporting of Moderna Costs. Within [***] days after the end of [***], Moderna shall provide Merck with a [***] summary statement
(with supporting documentation [***] of the Moderna Development Costs, Moderna Commercialization Costs and Costs of Goods Sold incurred by or on behalf of Moderna (or its Affiliate or Sublicensee) in such [***], as applicable for Financial PCVs
(each, a “Moderna Costs Report”). [***] 
 5. Reporting of Net Sales. On a [***] basis, Moderna will provide to Merck
an estimate of gross sales and Net Sales in U.S. dollars during the prior [***] of such Financial PCVs and units of such Financial PCV sold during such period according to Moderna’s sales reporting system, which will be consistent with the
financial planning, accounting and reporting procedures set forth in this Exhibit E. Each such report will be provided as early as possible, but no later than [***] days after the last day of the [***] in question, and will separately provide
[***] figures. The Parties understand that all Net Sales of Financial PCVs will be booked in accordance with GAAP and otherwise in accordance with the definition of Net Sales. 

  
 E-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 6. Recording of Costs; Reports. All Moderna Development Costs, Cost of Goods Sold and
Moderna Commercialization Costs pursuant to this Exhibit E shall be recorded and reported consistent with GAAP (except [***]), consistently applied. 

7. [***]. 

[***] 
 8.
[***] 
 (a) [***] 

(b) [***] 

(c) [***] 

(d) [***] 

(e) [***]  

(f) [***]  

9. [***] 
  

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

 10. [***] 

10.1 [***] 

10.2 [***] 
 11.
Credit Against Profits Mechanism. The Credit Against Profits Mechanism with respect to the Non-Participation PCV Net Profit Share shall operate as follows: 

11.1 [***] 

11.2 [***] 

11.3 [***] 
 12.
[***]  
 12.1 [***] 

12.1.1 [***] 

12.1.2 [***] 

  
 E-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 13. [***] 

13.1 [***] 
 B.
Merck Cessation of Collaboration Activities for the PCV Program 
 The provisions of this Section B of Exhibit E
(i.e., Paragraphs 14-15 of this Exhibit E) shall apply only to Financial PCVs. 
 14. Allocation of Moderna Net Profits
and Costs. 
 14.1 In the event of a Merck Cessation Election for the PCV Program pursuant to Section 10.10 of the
Agreement, subject to the remainder of this Exhibit E[***], for each [***] following the effective date of the Merck Cessation Election for the PCV Program, Merck shall be entitled to [***] (the “PCV Cessation Net Profit
Share”). 
 14.2 [***]  

14.2.1 [***] 

14.2.2 [***] 

14.2.3 [***] 

14.3 [***]  

15. General. The provisions of Paragraphs 2 through 13 of this Exhibit E shall apply to the PCV Cessation Net Profit Share,
mutatis mutandis; [***]. 
 C. Merck Non-Participation for a Given Joint SAV
Program 
 The provisions of this Section C of Exhibit E (i.e., Paragraph 16 of this
Exhibit E) shall apply only to Financial SAVs and shall be calculated on a Joint SAV Program-by-Joint SAV Program basis. 
 16.
Allocation of Moderna Net Profits and Costs. 
 16.1 In the event of a Merck Non-Participation for a given Joint SAV
Program pursuant to Section 3.7(a) of the Agreement, subject to [***] this Exhibit E, Merck shall be entitled to [***] of Moderna Net Profits of Financial SAVs for a given [***] up to an aggregate amount equal to the Merck SAV Program
Costs for such Joint SAV Program (at which point, such SAVs for such Joint SAV Program shall cease to be Financial SAVs with no further action required by either Party)[***] (the “Non-Participation SAV Net Profit Share”). 

16.2 General. Paragraphs 2 through 13 of this Exhibit E shall apply to a given Joint SAV Program and the
Financial SAVs, mutatis mutandis. 

  
 E-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 D. Merck Cessation of Collaboration Activities for a Given SAV Program 

The provisions of this Section D of Exhibit E (i.e., Paragraph 17 of this Exhibit E)
shall apply only to Financial SAVs and shall be calculated on a Joint SAV Program-by-Joint SAV Program basis. 
 17. Allocation of
Moderna Net Profits and Costs 
 17.1 In the event of a Merck Cessation Election for a given Joint SAV Program pursuant
to Section 10.10 of the Agreement [***], then, for each [***] following the effective date of the Merck Cessation Election for such Joint SAV Program, Merck shall be entitled to [***] of Moderna Net Profits of Financial SAVs for a given [***]
up to an aggregate amount equal to the Merck SAV Program Costs (at which point, such SAVs for such Joint SAV Program shall cease to be Financial SAVs with no further action required by either Party); [***] (the “SAV Cessation [***] Capped
Net Profit Share”). 
 17.2 In the event of a Merck Cessation Election for a given Joint SAV Program pursuant to
Section 10.10 of the Agreement [***], Merck shall be entitled to [***] of Moderna Net Profits of Financial SAVs for a given [***] (each “SAV Cessation [***] Net Profit Share”). 

17.3 In the event of a Merck Cessation Election for a given Joint SAV Program pursuant to Section 10.10 of the Agreement
[***], then, for each [***] following the effective date of the Merck Cessation Election for such Joint SAV Program, Merck shall be entitled to [***] of Moderna Net Profits of Financial SAVs for a given [***] (each, a “SAV Cessation [***]
Net Profit Share”, and together with each SAV Cessation [***] Capped Net Profit Share and each SAV Cessation [***] Net Profit Share, the “SAV Cessation Net Profit Share”). 

17.4 SAV Cessation Net Profit Share Term. Payments to Merck related to the Moderna Net Profits of Financial SAVs under
Paragraphs 17.1, 17.2 or 17.3 of this Exhibit E will be payable following the effective date of the Merck Cessation Election, on the Moderna Net Profits of Financial SAVs and shall continue until the last day of the month following the
effective date of the expiration of the Agreement. 
 17.5 General. Paragraph 2-13, 14.2 of this Exhibit E
shall apply to a given Joint SAV Program and the Financial SAVs, mutatis mutandis; [***]. 
 E. Business
Combination.  
 [***] 

  
 E-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT F 

In-Licenses 

1 Third Party In-Licenses. 

(a) Moderna Pre-Existing In-Licenses. Promptly following the Amended Effective Date, the Parties shall discuss in
good faith whether any Patents or Know-How in-licensed under a Moderna Pre-Existing In-License should be made available for use by the Parties, on a Program-by-Program basis, for the performance of Collaboration Activities under this Agreement,
including the Research, Development, Manufacture or Commercialization of a Collaboration Product with respect to such Program pursuant to the terms of this Agreement and, if the Parties mutually agree in writing, then, subject to and in accordance
with the terms of this Agreement and to the extent permitted under the applicable Moderna Pre-Existing In-License, the Patents and Know-How in-licensed under such Moderna Pre-Existing In-License shall be deemed to be Moderna Technology with respect
to such Program and such Moderna Pre-Existing In-License shall be deemed an “Included Moderna Pre-Existing In-License” with respect to such Program. 

(b) Moderna New In-Licenses. 

(i) Negotiation and Disclosure of Moderna New In-Licenses. After the Amended Effective Date, if Moderna identifies any
Patents or Know-How of a Third Party to which Moderna (and its Affiliates) does not have rights and that may be[***] for the performance of existing or future Collaboration Activities under this Agreement, including for the Research, Development,
Manufacture or Commercialization of mRNA Cancer Vaccines pursuant to the terms of this Agreement, Moderna may independently negotiate and enter into an agreement to obtain a license or other rights to such Patents or Know-How (each such agreement, a
“Moderna New In-License”); provided that (1) Moderna will [***] and (2) Moderna will use [***]. If Moderna (or its Affiliate) enters into such a Moderna New In-License, Moderna will disclose to Merck the terms of such
Moderna New In-License (including by providing a copy of such Moderna New In-License to Merck), subject to applicable confidentiality obligations and reasonable redaction of provisions that do not relate to the potential use of Patents and Know-How
in-licensed under such Moderna New In-License for the performance by the Parties of such existing or future Collaboration Activities, including the Research, Development, Manufacture or Commercialization of any mRNA Cancer Vaccines, and otherwise
provide Merck with [***] to assess whether or not any Patents or Know-How in-licensed under such Moderna New In-License should made available for use as set forth herein. 

(ii) Included Moderna New In-Licenses. Subject to Section 1(d) of this Exhibit F, if the Parties mutually
agree in writing that any Patents or Know-How in-licensed under a given Moderna New In-License should be made available for use by the Parties for the performance of any Collaboration Activities under this Agreement with respect to any Program,
including for the Research, Development, Manufacture or Commercialization of any Collaboration Product subject to and in accordance with the terms of this Agreement and to the extent permitted under such Moderna New In-License, then such Patents or
Know-How, as applicable, will be deemed Moderna Technology with respect to such Program (but subject to 

  
 F-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
[***]) and such Moderna New In-License shall be deemed an “Included Moderna New In-License” with respect to such Program. If the Parties cannot agree whether any Patent or
Know-How licensed to Moderna or its Affiliate pursuant a Moderna New In-License should be made available for use by either Party for the performance of Collaboration Activities, or made available for the Research, Development, Manufacture or
Commercialization of any Collaboration Product, in each case, pursuant to the terms of this Agreement then (1) the Patents and Know-How in-licensed under such Moderna New In-License [***], (2) such Moderna New In-License [***],
(3) [***], (4) Merck will not [***], and (5) Merck will have no [***]. 
 (c) Merck In-Licenses.
In the event that, during the Collaboration Term for a given Program, Merck identifies any Patents or Know-How of a Third Party to which Merck (and its Affiliates) does not have rights and that may be [***] for the performance of Collaboration
Activities under this Agreement for such Program, including the Research, Development, Manufacture or Commercialization of any Collaboration Product as a part of such Program pursuant to this Agreement, Merck may independently negotiate and enter
into an agreement to obtain a license or other rights to such Patents or Know-How (each such agreement, a “Merck In-License”) provided that (1) Merck will [***] and (2) Merck will use [***]. In addition, if Merck (or its
Affiliates) has other Patents or Know-How that may be [***] for the performance of Collaboration Activities for a given Program under this Agreement, including the Research, Development, Manufacture or Commercialization of any Collaboration Product
pursuant to this Agreement and that Merck desires to bring into the Collaboration for such Program, but such Patents or Know-How are licensed to Merck (or its Affiliate) from a Third Party pursuant to an agreement between Merck (or its Affiliate)
and such Third Party (even if the agreement with the Third Party was entered into prior to the Effective Date), then, such agreement shall also be considered a “Merck In-License”. Solely to the extent Merck determines that the rights
in-licensed under a Merck In-License should be made available for use by the Parties for the performance of Collaboration Activities for a given Program under this Agreement, including for the Research, Development, Manufacture or Commercialization
of any Collaboration Product, then Merck will provide Moderna written notice thereof, which written notice shall include the terms of such Merck In-License, subject to applicable confidentiality obligations and reasonable redaction of provisions
that do not relate to the potential use of Patents and Know-How in-licensed under such Merck In-License for the performance by the Parties of such Collaboration Activities with respect to a Program, including the Research, Development, Manufacture
or Commercialization of any Collaboration Product as a part of such Program, and otherwise provide Moderna with [***] to assess whether or not any Patents or Know-How in-licensed under such Merck In-License should be made available for use as set
forth herein. Following Moderna’s receipt of such notice from Merck disclosing a given Merck In-License, the Parties shall discuss in good faith whether any Patents or Know-How in-licensed under such Merck In-License should be made available
for use by the Parties for the performance of Collaboration Activities with respect to a Program under this Agreement, including for the Research, Development, Manufacture or Commercialization of any Collaboration Product as a Party of such Program
and, if the Parties mutually agree in writing, then, in each case, pursuant to the terms of this Agreement and to the extent permitted under the applicable Merck In-License, then such Patents and Know-How, as applicable, shall be deemed to be Merck
Technology and such Merck In-License shall be deemed an “Included Merck In-License”. 

  
 F-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 (d) Permitted In-Licenses. Notwithstanding anything to the
contrary set forth herein, in the event that, during the POC Term for a given Program, to the extent Moderna reasonably determines that any Patents or Know-How in-licensed under a given Moderna New In-License [***] (such Moderna New In-License, a
“Permitted In-License”) should be made available for use by either Party for the performance of Collaboration Activities for such Program, including for the Research, Development, Manufacture or Commercialization of any
Collaboration Product as a part of such Program under this Agreement, subject to and in accordance with the terms of this Agreement and to the extent permitted under such Permitted In-License, then Moderna shall notify Merck in writing, which notice
shall include a copy of the applicable Permitted In-License (subject to confidentiality obligations and reasonable redaction) and specifically identify the applicable Patents or Know-How to be made available for use by the Parties for such use and,
upon Merck’s receipt of such notice, then such Patents or Know-How (as applicable) will be deemed Moderna Technology (subject to any limitations set forth in such Permitted In-License as disclosed by Moderna in such notice to Merck) with
respect to such Program and such Permitted In-License shall be deemed an “Included Permitted In-License” with respect to such Program, unless [***]. 

(e) Included In-License Requirements. 

(i) Scope. The sublicenses granted under any Included In-License (and further rights to sublicense) shall be [***].

 (ii) Sublicense Party. Each Party will abide, and will cause all its Affiliates and applicable Sublicensees to
abide, by all requirements of each Included In-License under which it is granted a sublicense hereunder (including with respect to the Research, Development, Manufacture or Commercialization of any Collaboration Products) in all material respects
[***], to the extent applicable to sublicensees thereunder and to the extent disclosed by the contracting Party to the other Party pursuant to Section 1(b), Section 1(c) or Section 1(d) of this Exhibit F, as applicable, prior
to the Parties’ determination as to whether such In-License should be an Included In-License, with the understanding that disclosure by a Party of any In-License to the other Party will be deemed disclosure of such requirements of such
In-License so disclosed to such other Party. 
 (iii) Maintenance of Included In-Licenses. The contracting Party to
any Included In-License (the “Contracting Party”) (A) will duly perform and observe all of its obligations under such Included In-Licenses in all material respects and maintain in full force and effect such Included In-License
and (B) will not, without the other Party’s prior written consent (such consent not to be unreasonably withheld, conditioned or delayed), [***] in each case ((A) and (B)) to the extent such action [***] would reasonably be expected to
materially adversely affect the Research, Development, Manufacture or Commercialization of any Collaboration Product hereunder or the rights of the other Party under this Agreement. The Contracting Party to any Included In-License will provide the
other Party with written notice as promptly as practicable after becoming aware of any of the following: [***]. If the Contracting Party fails to pay any amounts due under such Included In-License and if such nonpayment would permit the counterparty
to such Included In-License to terminate or suspend the same or any rights thereunder, then, to the extent permitted under the Included In-License, the other Party will have the right, but not the obligation, in its sole discretion, to pay such
amounts on the 

  
 F-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
Contracting Party’s behalf, and any amounts so paid by the other Party may, to the extent that, as between the Parties, the Contracting Party is responsible for payment of such amounts in
accordance with Section 2 and Section 3 of this Exhibit F, be taken by such other Party as [***]. 
  

	 	(f)	 [***] 

 

	 	(g)	 [***] 

2 Upfront Payments for New In-Licenses. 

(a) [***] The Parties acknowledge that if the Contracting Party to a given New In-License has, prior to the date
that such New In-License becomes an Included In-License hereunder, paid to the licensor party thereto an upfront fee or other license fee to acquire rights to the applicable Included In-License IP (an “In-License Upfront Payment”),
then, prior to including such New In-License as an Included In-License hereunder, the Parties will agree on [***] of such In-License Upfront Payment [***]. 

(b) [***] In addition to [***] set forth in Section 2(a) of this Exhibit F, prior to including such
In-License as an Included In-License hereunder, the Parties will agree on [***]. 
 3 Included In-License Payments.
Except as set forth above in Section 2 of this Exhibit F: 
 (a) POC Program. With respect to a
given POC Program, if and to the extent that any Included In-License Payments become due during the POC Term for such POC Program, the Contracting Party will pay the same; provided that, (1) if Merck exercises the Merck Participation Election
for such POC Program, then the amount(s) of any [***], will, in each case [***], as of the Merck Participation Election Date for such Program at Merck’s election, be deemed [***], unless the non-Contracting Party elects to [***], and
(2) if Merck does not exercise the Merck Participation Election for such POC Program, then [***] Program will, in each case [***]. 

(b) Joint Development Programs – Allowable Development Costs. If and to the extent that any Included
In-License Payment becomes due with respect to activities under a Joint Development Program or an Additional Research Plan, the Contracting Party will pay the same, and such amount will be [***]. 

(c) Independent Additional Studies. If and to the extent that any Included In-License Payment becomes due with
respect to activities under an Independent Additional Study Development Plan, the Party sponsoring or conducting such Independent Additional Study will pay the same, and such amount will be [***]. 

(d) Commercialization. If and to the extent that any Included In-License Payment becomes due with respect to the
performance of Commercialization Activities in the Territory, the Contracting Party will pay the same and such payment will be treated as [***]. 

(e) Manufacturing. If and to the extent that any Included In-License Payment becomes due with respect to
Manufacturing activities undertaken pursuant to the activities described in clause (a), (b), (c) or (d) above, then the Parties’ respective responsibilities for such Included In-License Payment will be as set forth in such clause (a),
(b), (c) or (d), as applicable. 

  
 F-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT G 

Confidential CMC Document Review Procedures 

1. In connection with any review conducted pursuant to Section 6.1(d), the Merck Representatives (as defined below) shall have the right
to review [***] (i) Confidential CMC Data or (ii) [***] (collectively, “Confidential CMC Documents”), solely for the purposes of assisting Merck in determining [***]. Merck’s participation in any such review of
Confidential CMC Documents is strictly limited to the Merck Representatives. In no event will Merck permit any Merck personnel other than the Merck Representatives to participate in any such review of any Confidential CMC Documents. For the purposes
of this Exhibit G, “Merck Representatives” shall mean Merck employees that [***]. 
 2. At Merck’s election,
Confidential CMC Documents [***] for review pursuant to this Exhibit G will be made available for review by the Merck Representatives either in [***]. 

3. [***] 
 4. Except as
otherwise set forth herein, in no event will (a) the Merck Representatives disclose or make available (directly or indirectly) any information learned from such review of, or otherwise pertaining to, the Confidential CMC Documents to anyone
other than providing to Merck’s (or its Affiliate’s) employees that [***], and (b) any Merck personnel who have received or who have access to (directly or indirectly) any such information pursuant to this Exhibit G use such
information for any purpose other than to [***]. Merck will ensure that any such individual having access to such information will be made aware of its highly confidential nature and will cause such individuals to comply with this Exhibit G.
 

  
 G-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT H 

Moderna Technology Transfer 
 To
the extent there is a technology transfer, such technology transfer shall include the following: [***] 

  
 H-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT I 

Form Press Release 

(See attached) 

  
 I-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 

 
 CONFIDENTIAL 
 Not For
Distribution 
 Moderna and Merck Expand mRNA Cancer Vaccines Collaboration 

Expansion Includes the Joint Development of Moderna’s KRAS Oncogene Program and Other 

Potential mRNA Cancer Vaccines; Merck Makes Equity Investment in Moderna 

CAMBRIDGE, Mass. and KENILWORTH N.J. April __, 2018 — Moderna Therapeutics and Merck (NYSE:MRK), known as MSD outside
the United States and Canada, today announced an expansion of their 2016 collaboration to develop and commercialize novel personalized messenger RNA (mRNA) cancer vaccines to now include shared antigen mRNA cancer vaccines including mRNA-5671,
Moderna’s mRNA KRAS cancer vaccine. 
 Moderna developed mRNA-5671 starting in 2017. The two companies will now advance jointly
mRNA-5671 in human studies and plan to conduct combination studies with additional immuno-oncology therapies. 
 “Augmentation of
immune responses offers great promise in cancer therapy, as our work with the PD-1-specific antibody KEYTRUDA has shown,” said Dr. Roger M. Perlmutter, President, Merck Research Laboratories. “We now look forward to expanding our
exploration of mRNA cancer vaccines, working in concert with our colleagues at Moderna.” 
 Under the expanded agreement, Merck will be
responsible for clinical development of mRNA-5671 and associated costs while Moderna will be responsible for clinical supply and associated costs. Following the completion of human proof-of-concept (hPOC) studies, Merck may opt-in on further
development and commercialization of mRNA-5671 upon payment of an undisclosed fee to Moderna. Following opt-in, the parties will share equally the global net profits and costs associated with mRNA-5671. As part of this agreement, the parties may
also initiate and collaborate on other shared antigen mRNA cancer vaccines programs. In addition, Merck made a $125 million investment in preferred equity in a newly priced series H round of financing. Moderna closed a $500 million series G round
earlier this year. 
 “We are excited to advance our novel mRNA KRAS cancer vaccine approach with Merck, which further extends our mRNA
platform in immuno-oncology,” said Stephane Bancel, Moderna’s Chief Executive Officer. “Along with our initial collaboration to take on the challenge of transforming the treatment of cancer by combining Merck’s KEYTRUDA with
Moderna’s mRNA-based personalized cancer vaccines, we believe there is a real opportunity to also pursue a shared cancer vaccine to specifically target patients with KRAS mutations.” 

  
 I-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 KRAS is one of the most frequently mutated oncogenes in human cancer, occurring in
approximately 30 percent of certain cancer types. KRAS mutations are found principally in non-small cell lung cancer (NSCLC), colorectal cancer and pancreatic cancer, and are associated with worse outcomes. Hotspots of KRAS mutations are found in
different tumor types and can serve as tumor rejection epitopes. Presentation of these epitopes to the immune system may elicit an anti-tumor response. mRNA-5671 encodes for the four most commonly found KRAS mutations, and is designed to target most
of the KRAS mutations that occur in NSCLC, colorectal cancer and pancreatic cancer. 
 The Moderna KRAS mRNA program utilizes tumor
sequencing to identify suitable patients with specific mutations in KRAS in order to personalize their therapy, and complements the other personalized mRNA cancer vaccines in the collaboration. 

About the Updated Collaboration 
 The
alliance further builds on an initial strategic collaboration agreed to in June 2016 to jointly develop personalized mRNA cancer vaccines, combining Merck’s established leadership in immuno-oncology with Moderna’s pioneering mRNA
vaccine platform and GMP manufacturing capabilities, to advance individually tailored cancer vaccines for patients across a spectrum of cancers. Merck made an upfront cash payment to Moderna of $200 million, which Moderna is using to lead all
research and development efforts through proof of concept. 
 In November, 2017 the companies announced a key milestone with the
first-in-human dosing of mRNA-4157, an mRNA personalized cancer vaccine. The Phase 1 open-label, dose escalation, multicenter study in the United States (KEYNOTE-603) will assess the safety, tolerability and immunogenicity of mRNA-4157 alone in
subjects with resected solid tumors and in combination with KEYTRUDA® (pembrolizumab), an anti-PD-1 therapy, in subjects with unresectable solid tumors. 

About KEYTRUDA® (pembrolizumab) Injection 100mg 

KEYTRUDA is an anti-PD-1 therapy that works by increasing the ability of the body’s immune system to help detect and fight tumor cells.
KEYTRUDA is a humanized monoclonal antibody that blocks the interaction between PD-1 and its ligands, PD-L1 and PD-L2, thereby activating T lymphocytes which may affect both tumor cells and healthy cells. 

Merck has the industry’s largest immuno-oncology clinical research program, which currently involves more than 700 trials studying
KEYTRUDA across a wide variety of cancers and treatment settings. The KEYTRUDA clinical program seeks to understand the role of KEYTRUDA across cancers and the factors that may predict a patient’s likelihood of benefitting from treatment with
KEYTRUDA, including exploring several different biomarkers. 
 KEYTRUDA® (pembrolizumab)
Indications and Dosing 
 Melanoma 

KEYTRUDA is indicated for the treatment of patients with unresectable or metastatic melanoma at a fixed dose of 200 mg every
three weeks until disease progression or unacceptable toxicity. 
 Lung Cancer 

KEYTRUDA, as a single agent, is indicated for the first-line treatment of patients with metastatic non-small cell lung cancer
(NSCLC) whose tumors have high PD-L1 expression [tumor proportion score (TPS) 350%] as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations. 

  
 I-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 KEYTRUDA, as a single agent, is also indicated for the treatment of patients
with metastatic NSCLC whose tumors express PD-L1 (TPS 31%) as determined by an FDA-approved test, with disease progression on or after platinum-containing chemotherapy. Patients with EGFR or ALK genomic
tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving KEYTRUDA. 

KEYTRUDA, in combination with pemetrexed and carboplatin, is indicated for the first-line treatment of patients with
metastatic nonsquamous NSCLC. This indication is approved under accelerated approval based on tumor response rate and progression-free survival. Continued approval for this indication may be contingent upon verification and description of clinical
benefit in the confirmatory trials. 
 In metastatic NSCLC, KEYTRUDA is administered at a fixed dose of 200 mg every three
weeks until disease progression, unacceptable toxicity, or up to 24 months in patients without disease progression. 
 When
administering KEYTRUDA in combination with chemotherapy, KEYTRUDA should be administered prior to chemotherapy when given on the same day. See also the Prescribing Information for pemetrexed and carboplatin. 

Head and Neck Cancer 

KEYTRUDA is indicated for the treatment of patients with recurrent or metastatic head and neck squamous cell carcinoma (HNSCC)
with disease progression on or after platinum-containing chemotherapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon
verification and description of clinical benefit in the confirmatory trials. In HNSCC, KEYTRUDA is administered at a fixed dose of 200 mg every three weeks until disease progression, unacceptable toxicity, or up to 24 months in patients without
disease progression. 
 Classical Hodgkin Lymphoma 

KEYTRUDA is indicated for the treatment of adult and pediatric patients with refractory classical Hodgkin lymphoma (cHL), or
who have relapsed after three or more prior lines of therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification
and description of clinical benefit in the confirmatory trials. In adults with cHL, KEYTRUDA is administered at a fixed dose of 200 mg every three weeks until disease progression or unacceptable toxicity, or up to 24 months in patients without
disease progression. In pediatric patients with cHL, KEYTRUDA is administered at a dose of 2 mg/kg (up to a maximum of 200 mg) every three weeks until disease progression or unacceptable toxicity, or up to 24 months in patients without disease
progression. 
 Urothelial Carcinoma 

KEYTRUDA is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma who are not
eligible for cisplatin-containing chemotherapy. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description
of clinical benefit in the confirmatory trials. 
 KEYTRUDA is also indicated for the treatment of patients with locally
advanced or metastatic urothelial carcinoma who have disease progression during or following platinum-containing chemotherapy or within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy. 

  
 I-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 In locally advanced or metastatic urothelial carcinoma, KEYTRUDA is
administered at a fixed dose of 200 mg every three weeks until disease progression or unacceptable toxicity, or up to 24 months in patients without disease progression. 

Microsatellite Instability-High (MSI-H) Cancer 

KEYTRUDA is indicated for the treatment of adult and pediatric patients with unresectable or metastatic microsatellite
instability-high (MSI-H) or mismatch repair deficient (dMMR) 
  

	 	•	 	 solid tumors that have progressed following prior treatment and who have no satisfactory alternative treatment
options, or 

  

	 	•	 	 colorectal cancer that has progressed following treatment with fluoropyrimidine, oxaliplatin, and irinotecan.

 This indication is approved under accelerated approval based on tumor response rate and durability of
response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The safety and effectiveness of KEYTRUDA in pediatric patients with MSI-H central nervous system
cancers have not been established. 
 In adult patients with MSI-H cancer, KEYTRUDA is administered at a fixed dose of 200
mg every three weeks until disease progression, unacceptable toxicity, or up to 24 months in patients without disease progression. In children with MSI-H cancer, KEYTRUDA is administered at a dose of 2 mg/kg (up to a maximum of 200 mg) every three
weeks until disease progression or unacceptable toxicity, or up to 24 months in patients without disease progression. 
 Gastric Cancer 

KEYTRUDA is indicated for the treatment of patients with recurrent locally advanced or metastatic gastric or gastroesophageal
junction (GEJ) adenocarcinoma whose tumors express PD-L1 [Combined Positive Score (CPS) 31] as determined by an FDA-approved test, with disease progression on or after two or more prior lines of therapy
including fluoropyrimidine- and platinum-containing chemotherapy and if appropriate, HER2/neu-targeted therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for
this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The recommended dose of KEYTRUDA is 200 mg every three weeks until disease progression, unacceptable toxicity, or up to 24 months in
patients without disease progression. 
 Selected Important Safety Information for KEYTRUDA®  
 KEYTRUDA can cause immune-mediated pneumonitis, including fatal
cases. Pneumonitis occurred in 94 (3.4%) of 2799 patients receiving KEYTRUDA, including Grade 1 (0.8%), 2 (1.3%), 3 (0.9%), 4 (0.3%), and 5 (0.1%) pneumonitis, and occurred more frequently in patients with a history of prior thoracic radiation
(6.9%) compared to those without (2.9%). Monitor patients for signs and symptoms of pneumonitis. Evaluate suspected pneumonitis with radiographic imaging. Administer corticosteroids for Grade 2 or greater pneumonitis. Withhold KEYTRUDA for
Grade 2; permanently discontinue KEYTRUDA for Grade 3 or 4 or recurrent Grade 2 pneumonitis. 
 KEYTRUDA can cause
immune-mediated colitis. Colitis occurred in 48 (1.7%) of 2799 patients receiving KEYTRUDA, including Grade 2 (0.4%), 3 (1.1%), and 4 (<0.1%) colitis. Monitor patients for signs and symptoms of colitis. Administer corticosteroids for Grade 2
or greater colitis. Withhold KEYTRUDA for Grade 2 or 3; permanently discontinue KEYTRUDA for Grade 4 colitis. 
 KEYTRUDA
can cause immune-mediated hepatitis. Hepatitis occurred in 19 (0.7%) of 2799 patients receiving KEYTRUDA, including Grade 2 (0.1%), 3 (0.4%), and 4 (<0.1%) hepatitis. Monitor patients for changes in liver function. Administer corticosteroids for
Grade 2 or greater hepatitis and, based on severity of liver enzyme elevations, withhold or discontinue KEYTRUDA. 

  
 I-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 KEYTRUDA can cause hypophysitis. Hypophysitis occurred in 17 (0.6%) of 2799
patients receiving KEYTRUDA, including Grade 2 (0.2%), 3 (0.3%), and 4 (<0.1%) hypophysitis. Monitor patients for signs and symptoms of hypophysitis (including hypopituitarism and adrenal insufficiency). Administer corticosteroids and hormone
replacement as clinically indicated. Withhold KEYTRUDA for Grade 2; withhold or discontinue for Grade 3 or 4 hypophysitis. 

KEYTRUDA can cause thyroid disorders, including hyperthyroidism, hypothyroidism, and thyroiditis. Hyperthyroidism occurred in
96 (3.4%) of 2799 patients receiving KEYTRUDA, including Grade 2 (0.8%) and 3 (0.1%) hyperthyroidism. Hypothyroidism occurred in 237 (8.5%) of 2799 patients receiving KEYTRUDA, including Grade 2 (6.2%) and 3 (0.1%) hypothyroidism. The
incidence of new or worsening hypothyroidism was higher in patients with HNSCC, occurring in 28 (15%) of 192 patients with HNSCC, including Grade 3 (0.5%) hypothyroidism. Thyroiditis occurred in 16 (0.6%) of 2799 patients receiving KEYTRUDA,
including Grade 2 (0.3%) thyroiditis. Monitor patients for changes in thyroid function (at the start of treatment, periodically during treatment, and as indicated based on clinical evaluation) and for clinical signs and symptoms of thyroid
disorders. Administer replacement hormones for hypothyroidism and manage hyperthyroidism with thionamides and beta-blockers as appropriate. Withhold or discontinue KEYTRUDA for Grade 3 or 4 hyperthyroidism. 

KEYTRUDA can cause type 1 diabetes mellitus, including diabetic ketoacidosis, which have been reported in 6 (0.2%) of 2799
patients. Monitor patients for hyperglycemia or other signs and symptoms of diabetes. Administer insulin for type 1 diabetes, and withhold KEYTRUDA and administer antihyperglycemics in patients with severe hyperglycemia. 

KEYTRUDA can cause immune-mediated nephritis. Nephritis occurred in 9 (0.3%) of 2799 patients receiving KEYTRUDA, including
Grade 2 (0.1%), 3 (0.1%), and 4 (<0.1%) nephritis. Monitor patients for changes in renal function. Administer corticosteroids for Grade 2 or greater nephritis. Withhold KEYTRUDA for Grade 2; permanently discontinue KEYTRUDA for Grade 3 or 4
nephritis. 
 Immune-mediated rashes, including Stevens-Johnson syndrome (SJS), toxic epidermal necrolysis (TEN) (some cases
with fatal outcome), exfoliative dermatitis, and bullous pemphigoid, can occur. Monitor patients for suspected severe skin reactions and based on the severity of the adverse reaction, withhold or permanently discontinue KEYTRUDA and administer
corticosteroids. For signs or symptoms of SJS or TEN, withhold KEYTRUDA and refer the patient for specialized care for assessment and treatment. If SJS or TEN is confirmed, permanently discontinue KEYTRUDA. 

KEYTRUDA can cause other clinically important immune-mediated adverse reactions. These immune-mediated reactions may occur in
any organ system. For suspected immune-mediated adverse reactions, ensure adequate evaluation to confirm etiology or exclude other causes. Based on the severity of the adverse reaction, withhold KEYTRUDA and administer corticosteroids. Upon
improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Based on limited data from clinical studies in patients whose immune-related adverse reactions could not be controlled with corticosteroid
use, administration of other systemic immunosuppressants can be considered. Resume KEYTRUDA when the adverse reaction remains at Grade 1 or less following corticosteroid taper. Permanently discontinue KEYTRUDA for any Grade 3 immune-mediated adverse
reaction that recurs and for any life-threatening immune-mediated adverse reaction. 
 The following clinically significant
immune-mediated adverse reactions occurred in less than 1% (unless otherwise indicated) of 2799 patients: arthritis (1.5%), uveitis, myositis, Guillain-Barré syndrome, myasthenia gravis, vasculitis, pancreatitis, hemolytic anemia, and partial
seizures arising in a patient with inflammatory foci in brain parenchyma. In addition, myelitis and myocarditis were reported in other clinical trials, including classical Hodgkin lymphoma, and postmarketing use. 

  
 I-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Solid organ transplant rejection has been reported in postmarketing use of
KEYTRUDA. Treatment with KEYTRUDA may increase the risk of rejection in solid organ transplant recipients. Consider the benefit of treatment with KEYTRUDA vs the risk of possible organ rejection in these patients. 

KEYTRUDA can cause severe or life-threatening infusion-related reactions, including hypersensitivity and anaphylaxis, which
have been reported in 6 (0.2%) of 2799 patients. Monitor patients for signs and symptoms of infusion-related reactions, including rigors, chills, wheezing, pruritus, flushing, rash, hypotension, hypoxemia, and fever. For Grade 3 or 4 reactions, stop
infusion and permanently discontinue KEYTRUDA. 
 Immune-mediated complications, including fatal events, occurred in
patients who underwent allogeneic hematopoietic stem cell transplantation (HSCT) after being treated with KEYTRUDA. Of 23 patients with cHL who proceeded to allogeneic HSCT after treatment with KEYTRUDA on any trial, 6 patients (26%) developed
graft-versus-host disease (GVHD), one of which was fatal, and 2 patients (9%) developed severe hepatic veno-occlusive disease (VOD) after reduced-intensity conditioning, one of which was fatal. Cases of fatal hyperacute GVHD after allogeneic
HSCT have also been reported in patients with lymphoma who received a PD-1 receptor–blocking antibody before transplantation. 

These complications may occur despite intervening therapy between PD-1 blockade and allogeneic HSCT. Follow patients closely
for early evidence of transplant-related complications such as hyperacute GVHD, severe (Grade 3 to 4) acute GVHD, steroid-requiring febrile syndrome, hepatic VOD, and other immune-mediated adverse reactions, and intervene promptly. 

In clinical trials in patients with multiple myeloma, the addition of KEYTRUDA to a thalidomide analogue plus dexamethasone
resulted in increased mortality. Treatment of these patients with a PD-1 or PD-L1 blocking antibody in this combination is not recommended outside of controlled clinical trials. 

Based on its mechanism of action, KEYTRUDA can cause fetal harm when administered to a pregnant woman. If used during
pregnancy, or if the patient becomes pregnant during treatment, apprise the patient of the potential hazard to a fetus. Advise females of reproductive potential to use highly effective contraception during treatment and for 4 months after the last
dose of KEYTRUDA. 
 In KEYNOTE-006, KEYTRUDA was discontinued due to adverse reactions in 9% of 555 patients with advanced
melanoma; adverse reactions leading to discontinuation in more than one patient were colitis (1.4%), autoimmune hepatitis (0.7%), allergic reaction (0.4%), polyneuropathy (0.4%), and cardiac failure (0.4%). Adverse reactions leading to interruption
of KEYTRUDA occurred in 21% of patients; the most common (31%) was diarrhea (2.5%). The most common adverse reactions with KEYTRUDA vs ipilimumab were fatigue (28% vs 28%), diarrhea (26% with KEYTRUDA),
rash (24% vs 23%), and nausea (21% with KEYTRUDA). Corresponding incidence rates are listed for ipilimumab only for those adverse reactions that occurred at the same or lower rate than with KEYTRUDA. 

In KEYNOTE-010, KEYTRUDA monotherapy was discontinued due to adverse reactions in 8% of 682 patients with metastatic NSCLC.
The most common adverse event resulting in permanent discontinuation of KEYTRUDA was pneumonitis (1.8%). Adverse reactions leading to interruption of KEYTRUDA occurred in 23% of patients; the most common
(31%) were diarrhea (1%), fatigue (1.3%), pneumonia (1%), liver enzyme elevation (1.2%), decreased appetite (1.3%), and pneumonitis (1%). The most common adverse reactions (occurring in at least 20% of
patients and at a higher incidence than with docetaxel) were decreased appetite (25% vs 23%), dyspnea (23% vs 20%), and nausea (20% vs 18%). 

In KEYNOTE-021(G1), when KEYTRUDA was administered in combination with carboplatin and pemetrexed (carbo/pem) in advanced
nonsquamous NSCLC, KEYTRUDA was discontinued in 10% of 59 patients. The most common adverse reaction resulting in discontinuation of KEYTRUDA (32%) was acute kidney injury (3.4%). Adverse reactions
leading to interruption of KEYTRUDA occurred in 39% of 

  
 I-6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 
patients; the most common (32%) were fatigue (8%), neutrophil count decreased (8%), anemia (5%), dyspnea (3.4%), and pneumonitis (3.4%). The most
common adverse reactions (320%) with KEYTRUDA compared to carbo/pem alone were fatigue (71% vs 50%), nausea (68% vs 56%), constipation (51% vs 37%), rash (42% vs 21%), vomiting (39% vs 27%), dyspnea (39%
vs 21%), diarrhea (37% vs 23%), decreased appetite (31% vs 23%), headache (31% vs 16%), cough (24% vs 18%), dizziness (24% vs 16%), insomnia (24% vs 15%), pruritus (24% vs 4.8%), peripheral edema (22% vs 18%), dysgeusia (20% vs 11%), alopecia (20%
vs 3.2%), upper respiratory tract infection (20% vs 3.2%), and arthralgia (15% vs 24%). This study was not designed to demonstrate a statistically significant difference in adverse reaction rates for KEYTRUDA as compared to carbo/pem alone for any
specified adverse reaction. 
 In KEYNOTE-012, KEYTRUDA was discontinued due to adverse reactions in 17% of 192 patients
with HNSCC. Serious adverse reactions occurred in 45% of patients. The most frequent serious adverse reactions reported in at least 2% of patients were pneumonia, dyspnea, confusional state, vomiting, pleural effusion, and respiratory failure. The
most common adverse reactions (reported in at least 20% of patients) were fatigue, decreased appetite, and dyspnea. Adverse reactions occurring in patients with HNSCC were generally similar to those occurring in patients with melanoma or NSCLC, with
the exception of increased incidences of facial edema (10% all Grades; 2.1% Grades 3 or 4) and new or worsening hypothyroidism. 

In KEYNOTE-087, KEYTRUDA was discontinued due to adverse reactions in 5% of 210 patients with cHL, and treatment was
interrupted due to adverse reactions in 26% of patients. Fifteen percent (15%) of patients had an adverse reaction requiring systemic corticosteroid therapy. Serious adverse reactions occurred in 16% of patients. The most frequent serious
adverse reactions (31%) included pneumonia, pneumonitis, pyrexia, dyspnea, GVHD, and herpes zoster. Two patients died from causes other than disease progression; one from GVHD after subsequent
allogeneic HSCT and one from septic shock. The most common adverse reactions (occurring in 320% of patients) were fatigue (26%), pyrexia (24%), cough (24%), musculoskeletal pain (21%), diarrhea (20%), and
rash (20%). 
 In KEYNOTE-052, KEYTRUDA was discontinued due to adverse reactions in 11% of 370 patients with locally
advanced or metastatic urothelial carcinoma. The most common adverse reactions (in 320% of patients) were fatigue (38%), musculoskeletal pain (24%), decreased appetite (22%), constipation (21%), rash
(21%), and diarrhea (20%). Eighteen patients (5%) died from causes other than disease progression. Five patients (1.4%) who were treated with KEYTRUDA experienced sepsis which led to death, and 3 patients (0.8%) experienced pneumonia which
led to death. Adverse reactions leading to interruption of KEYTRUDA occurred in 22% of patients; the most common (31%) were liver enzyme increase, diarrhea, urinary tract infection, acute kidney injury,
fatigue, joint pain, and pneumonia. Serious adverse reactions occurred in 42% of patients, the most frequent (32%) of which were urinary tract infection, hematuria, acute kidney injury, pneumonia, and
urosepsis. 
 In KEYNOTE-045, KEYTRUDA was discontinued due to adverse reactions in 8% of 266 patients with locally advanced
or metastatic urothelial carcinoma. The most common adverse reaction resulting in permanent discontinuation of KEYTRUDA was pneumonitis (1.9%). Adverse reactions leading to interruption of KEYTRUDA occurred in 20% of patients; the most common (31%) were urinary tract infection (1.5%), diarrhea (1.5%), and colitis (1.1%). The most common adverse reactions (320%) in patients who received KEYTRUDA vs
those who received chemotherapy were fatigue (38% vs 56%), musculoskeletal pain (32% vs 27%), pruritus (23% vs 6%), decreased appetite (21% vs 21%), nausea (21% vs 29%), and rash (20% vs 13%). Serious adverse reactions occurred in 39% of
KEYTRUDA-treated patients, the most frequent (32%) of which were urinary tract infection, pneumonia, anemia, and pneumonitis. 

  
 I-7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 It is not known whether KEYTRUDA is excreted in human milk. Because many
drugs are excreted in human milk, instruct women to discontinue nursing during treatment with KEYTRUDA and for 4 months after the final dose. 

There is limited experience in pediatric patients. In a study, 40 pediatric patients (16 children aged 2 years to younger than 12 years and 24
adolescents aged 12 years to 18 years) with advanced melanoma, lymphoma, or PD-L1–positive advanced, relapsed, or refractory solid tumors were administered KEYTRUDA 2 mg/kg every 3 weeks. Patients received KEYTRUDA for a median of 3 doses
(range 1–17 doses), with 34 patients (85%) receiving KEYTRUDA for 2 doses or more. The safety profile in these pediatric patients was similar to that seen in adults treated with KEYTRUDA. Toxicities that occurred at a higher rate (315% difference) in these patients when compared to adults under 65 years of age were fatigue (45%), vomiting (38%), abdominal pain (28%), hypertransaminasemia (28%), and hyponatremia (18%). 

About Merck 
 For more than a century,
Merck, a leading global biopharmaceutical company known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases. Through our
prescription medicines, vaccines, biologic therapies and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to health
care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to advance the prevention and treatment of diseases that threaten people and communities around the world—including cancer,
cardio-metabolic diseases, emerging animal diseases, Alzheimer’s disease and infectious diseases including HIV and Ebola. For more information, visit www.merck.com and connect with us
on Twitter, Facebook, Instagram, YouTube and LinkedIn. 
 About Moderna
Therapeutics Moderna pioneers the discovery and development of messenger RNA (mRNA) therapeutics and vaccines, an entirely new class of medicines that directs the body’s cells to produce intracellular or secreted proteins that can have a
therapeutic or preventive benefit for both patients and healthy individuals. With its breakthrough platform, Moderna is creating mRNA medicines for a wide range of diseases and conditions, in many cases by addressing currently undruggable targets or
underserved areas of medical need. Moderna is developing its innovative mRNA medicines for infectious diseases, immuno-oncology, rare diseases, and cardiovascular diseases, through solely controlled programs and collaborations with strategic
partners. 
 Headquartered in Cambridge, Mass., privately held Moderna currently has strategic relationships with AstraZeneca, Plc. (AZ),
Merck (MRK) and Vertex Pharmaceuticals (VRTX), as well as the Defense Advanced Research Projects Agency (DARPA), an agency of the U.S. Department of Defense; the Biomedical Advanced Research and Development Authority (BARDA), a division of the
Office of the Assistant Secretary for Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services (HHS); and the Bill & Melinda Gates Foundation. In 2017 Moderna was ranked a top biopharma industry employer
by Science Magazine and a Top Places to Work by the Boston Globe. To learn more, visit www.modernatx.com. 

  
 I-8 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 Forward-looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA 

This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the
meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and
uncertainties. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks
or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. 
 Risks and
uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care
legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining
regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the
company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. 

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events
or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2017 Annual Report on Form 10-K and the company’s other filings with the
Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov). 

  
 I-9 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT J 

Patent Prosecution and Maintenance; Patent Enforcement 

1. Patent Committee. 

1.1 Composition. The IP Committee shall comprise [***] representatives of Merck and [***] representatives of Moderna.
Each Party may change its representatives to the IP Committee from time to time in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have appropriate expertise, seniority, decision-making
authority and ongoing familiarity with the Collaboration, and each Party’s representatives collectively will have relevant expertise in intellectual property portfolio management and licensing matters. With the consent of the other Party (such
consent not to be unreasonably withheld, delayed or conditioned), each Party may invite employees and consultants to attend meetings of the IP Committee, subject to their agreement to be bound to the same extent as a permitted subcontractor under
Section 10.4. The IP Committee may change its size from time to time by mutual consent of its members; provided that the IP Committee will consist at all times of an equal number of representatives of each of Merck and Moderna. 

1.2 Meetings. The IP Committee will meet as necessary to carry out its duties under Paragraph 1.1, but at least [***] per
Calendar Quarter during the Collaboration Term, unless otherwise agreed by its members. The IP Committee will meet in-person at Moderna or Merck or, alternatively, by means of teleconference, videoconference or other similar communications
equipment. 
 1.3 IP Committee Responsibilities. The IP Committee will provide input regarding the strategy of
Prosecuting and Maintaining [***] with respect to a given Program, including the following activities:  
 1.3.1
[***] 
 1.3.2 [***] 

1.3.3 [***] 

1.3.4 [***] 

1.3.5 [***] 

1.3.6 [***] 

1.3.7 [***] 

1.3.8 [***] 

1.3.9 [***] 

1.3.10 [***] 

  
 J-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 1.3.11 [***] 

1.4 Decision-Making Authority. The IP Committee will be an advisory committee for the Collaboration and to the
Parties and will make recommendations by consensus. The IP Committee will not have any final decision-making power, and its discussions with not be subject to review or approval by the JSC. 

2. Prosecution and Maintenance. 

2.1 Moderna Patents. 

2.1.1 Moderna General Patents and Moderna Agent Technology. Moderna shall have the sole right, but not the
obligation, at its own expense and through counsel of its own choosing, to Prosecute and Maintain the Moderna General Patents and any Patents within the Moderna Agent Technology worldwide. 

2.1.2 [***] 

2.1.3 [***] 

2.1.4 [***] 

2.2 Merck Patents. 

2.2.1 Merck General Patents and Merck Agent Technology. Merck shall have the sole right, but not the obligation,
at its own expense and using counsel of its own choosing, to Prosecute and Maintain the Merck General Patents and any Patents within the Merck Agent Technology worldwide. 

2.2.2 [***]  

2.3 Patent Costs. Patent and Trademark Expenses incurred by the prosecuting Party in connection with Prosecuting and
Maintaining [***], as applicable (but not any [***]), shall be treated in accordance with this Exhibit J or Exhibit D or Exhibit E, as follows: 

2.3.1 for such Patent and Trademark Expenses accrued by the Parties during the applicable POC Term, if (a) Merck
exercises the Merck Participation Election for a given Program, then [***], and (b) if Merck does not exercise the Merck Participation Election for the PCV Program, then [***]; 

2.3.2 such Patent and Trademark Expenses incurred by or on behalf of each Party (or its Affiliates) during the Merck
Participation Term for a given Program will be treated as [***]; 
 2.3.3 such Patent and Trademark Expenses incurred by or
on behalf of each Party (or its Affiliates) in the event of a Merck Non-Participation for the PCV Program or a Merck Cessation Election for the PCV Program will be treated as [***] 

  
 J-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 2.3.4 such Patent and Trademark Expenses incurred by or on behalf of a Party
(or its Affiliates) in the event of a Merck Non-Participation for a given SAV Program or a Merck Cessation Election for a given SAV Program will be [***]. 

2.4 Cooperation. The Parties agree to cooperate fully in the Prosecution and Maintenance of the Moderna Patents and
Merck Patents in the Territory under this Agreement. Cooperation shall include: 
 2.4.1 executing all papers and
instruments, or requiring its employees or contractors to execute such papers and instruments, so as to (a) effectuate the ownership of intellectual property set forth in Section 11; (b) enable the other Party to apply for and to
prosecute Patent applications in the Territory; and (c) obtain and maintain any Patent extensions, supplementary protection certificates, and the like with respect to the Moderna Patents and Merck Patents in the Territory, in each case, to the
extent provided for in this Agreement; 
 2.4.2 consistent with this Agreement, assisting in any license registration
processes with applicable governmental authorities that may be available in the Territory for the protection of a Party’s interests in this Agreement; and 

2.4.3 promptly informing the other Party of any matters coming to such Party’s attention that may materially affect the
Prosecution and Maintenance of any such Moderna Patents or Merck Patents in the Territory. 
 3. Patent Extensions. With respect to
any election for patent term restoration or extension, supplemental protection certificate or any of their equivalents, (a) Merck will have the sole right to make any such decision relating to the Merck Patents; provided that [***];
(b) Moderna will have the right to make any such decision relating to the Moderna Patents; provided that, [***] and (c) if either Party requests that the other Party make any election for patent term restoration or extension, supplemental
protection certificate or any of their equivalents with respect to which such other Party has sole decision making authority pursuant to this Paragraph 2, the Parties shall discuss and such other Party shall consider in good faith any such request.

 4. Patent Listings. With respect to any filings made to Regulatory Authorities with respect to the Moderna Patents or Merck Patents
for any Collaboration Product, including as required or allowed in connection with in the United States, the FDA’s Orange Book, if applicable, or outside the United States, other international equivalents, [***] will have the sole right to make
any such decision. Upon the request by [***], [***] will reasonably cooperate in the implementation of decisions regarding the filing and listing pursuant to this Paragraph 3. 

5. Patent Enforcement and Defense. 

5.1 Notice. With respect to a given Program, each Party will promptly notify the other Party, in writing, upon learning
of any [***] (in each case [***], a “Competitive Infringement”), or of [***], would amount to Competitive Infringement, and will, along with such notice, provide any evidence in its possession pertaining thereto, subject to Third
Party confidentiality obligations. 

  
 J-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 5.2 Competitive Infringement. 

5.2.1 [***]  

5.2.2 General Patents. [***]  

5.2.3 [***]  

5.2.4 Neither Party will exercise any of its enforcement rights under Paragraph 5.2.1 without first consulting with the other
Party, provided that this consultation requirement will not limit either Party’s rights under this Paragraph 5.2. 
 5.3
Defense. 
 5.3.1 [***] 

5.3.2 [***] 

5.3.3 [***] 

5.4 Withdrawal, Cooperation and Participation. With respect to any infringement or defensive action identified above in
Paragraphs 5.2 or 5.3: 
 5.4.1 If the controlling Party ceases to pursue or withdraws from such action, it will promptly
notify the other Party (in sufficient time to enable the other Party to meet any deadlines by which any action must be taken to preserve any rights in such infringement or defensive action) and such other Party may substitute itself for the
withdrawing Party and proceed under the terms and conditions of [***]. 
 5.4.2 The non-controlling Party will cooperate
with the Party controlling any such action (as may be reasonably requested by the controlling Party), including [***]. The Party controlling any such action will keep the non-controlling Party updated with respect to any such action, including
providing copies of all documents received or filed in connection with any such action. 
 5.4.3 Each Party will have the
right to participate or otherwise be involved in any such action controlled by the other Party, in each case at the non-controlling Party’s sole cost and expense. If a Party elects to so participate or be involved, the controlling Party will
provide the non-controlling Party and its counsel with an opportunity to consult with the controlling Party and its counsel regarding the prosecution of such action (including reviewing the contents of any correspondence, legal papers or other
documents related thereto), and the controlling Party will take into account reasonable requests of the non-controlling Party regarding such enforcement or defense. 

5.4.4 In all cases, prior to the commencement of any infringement or defensive action identified above in Paragraphs 5.2 or
5.3, the Parties shall reasonably consult with respect thereto, including a discussion of the relevant Patents to be included in any such action. 

  
 J-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 5.5 Damages. Unless otherwise agreed by the Parties, [***], all monies
recovered upon the final judgment or settlement of any such action will be [***]. Unless otherwise agreed by the Parties, [***], all monies recovered upon the final judgment or settlement of any such action shall be treated [***]. 

5.6 Agent Technology. Notwithstanding anything in this Agreement to the contrary, Moderna has the sole right to enforce
and defend all Patents within the Moderna Agent Technology, and Merck has the sole right to enforce and defend all Patents within the Merck Agent Technology. 

5.7 [***] 

6. Third Party Rights. Notwithstanding the foregoing provisions of this Exhibit J, each Party’s rights and obligations under
this Exhibit J will be subject to the Third Party rights and obligations under any Included In-License. 
 7. Matters involving
General Patents and Agent Technology. Notwithstanding anything in this Agreement to the contrary, as between the Parties and irrespective of Committee involvement or otherwise, (a) Moderna shall have final decision making authority with
respect to any and all matters involving the Moderna General Patents and any Patents within the Moderna Agent Technology, and (b) Merck shall have final decision making authority with respect to any and all matters involving Merck General
Patents and any Patents within the Merck Agent Technology. 
 8. Third Party Rights. To the extent that a Third Party licensor under a
Moderna Included In-License has retained any right to [***], Moderna will use Commercially Reasonable Efforts to cause such Third Party licensor to take the actions specified by this Exhibit J in a manner consistent with the Moderna Included
In-License applicable thereto, but Moderna will not be deemed to be in breach of its obligations under this Exhibit J if, after using such Commercially Reasonable Efforts, it is unable to comply with such obligations because of actions taken or not
taken by such Third Party licensor. 
 9. Matters involving Joint Patents. The Prosecution and Maintenance, and the enforcement and
defense, of any Joint Patents shall be [***]. 
 10. Immune Potentiator Patent Application. [***] 

  
 J-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT K 

Supply Terms 

[***] 

  
 K-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT L 

Subcontractors and Sublicensing 

  
 L-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT L-1 

Permitted Subcontractors 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 L-2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 L-3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 L-4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 L-5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

  
 L-6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT L-2 

Certain Sublicensing/Subcontracting Examples 

[***] 

  
 L-7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT M 

Terms for PCV Clinical Supply Agreement and SAV Clinical Supply Agreement 

 

			
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

  
 M-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 EXHIBIT N 

Supply Terms for Merck Internal SAV Programs 

a. [***] 
  

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

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

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

  
 N-1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.235 

Moderna Background Patents 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 1 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

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

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

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

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

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

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

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

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

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

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

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

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

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

					
	 [***]
	  		  		  		  	 [***]

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

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

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

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

					
	 [***]
	  		  		  		  	 [***]

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

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

  
 2 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

					
	 [***]
	  		  		  		  	 [***]

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 3 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 4 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 5 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 6 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 7 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 8 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 9 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 10 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 11 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 12 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  
 13 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

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

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

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

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

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

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

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

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

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

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

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

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

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 14 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 15 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  		  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 16 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 17 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 18 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 19 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 20 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 21 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 22 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  		  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 23 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]    
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 24 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

									
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

					
	 [***]
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

  
 25 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 1.253 

Moderna Pre-Existing In-Licenses 

[***] 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 3.4(c)(ii) 

Initial KRAS Transition Plan 

[***] 

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 [***] 
  

			
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

  

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED 

MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 

COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES 

ACT OF 1933, AS AMENDED 
  

 SCHEDULE 6.1(d)(iv) 

Required Manufacturing Items 
  

					
	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

	 [***]
	  	 [***]
	  	 [***]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}]]