Document:

EX-10.3

 Exhibit 10.3 

CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
	 CONFIDENTIAL
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 RESEARCH COLLABORATION AND LICENSE AGREEMENT 

This Research Collaboration and License Agreement (“Agreement”) is made and entered into as of the 15th day of June 2012 (the
“Effective Date”) by and between AC Immune SA Corporation, a Swiss corporation with a principal place of business at Parc scientifique EPFL, PSE-B, CH-1015 Lausanne, Switzerland (“ACI”) and Genentech, Inc., a
Delaware corporation, with offices located at 1 DNA Way, South San Francisco, CA 94080 (“GNE”) and F. Hoffmann-La Roche Ltd, a Swiss corporation with its principal place of business at Grenzacherstrasse 124, CH 4070 Basel,
Switzerland (“Roche”) (GNE and Roche, collectively, “Genentech”). ACI and Genentech are each referred to herein individually as a “Party” and collectively as the “Parties.” 

RECITALS 
 WHEREAS ACI possesses
certain expertise and proprietary technologies related to antibody products that interact with tau protein and its derivatives. 
 WHEREAS
ACI and Genentech wish to collaborate in further research related to antibody materials that interact with tau protein and its derivatives for the diagnosis, prevention and treatment of diseases; 

WHEREAS Genentech is a health care company with expertise and capability in researching, developing, manufacturing and marketing human
therapeutics and diagnostics; 
 WHEREAS, ACI and Genentech wish to enter into an exclusive licensing arrangement whereby Genentech will
have exclusive rights to research, develop and commercialize antibody products that interact with tau protein derivatives for the selection and evaluation of patients and the treatment of Alzheimer’s disease and other indications in exchange
for upfront, milestone and royalty payments. 
 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: 

ARTICLE 1: DEFINITIONS 

1.1 “ACI Antibodies” means all Tau-Active Antibodies that are owned or Controlled by ACI as of the Effective Date, or during
the Term of this Agreement, or provided by, or on behalf of, ACI to the Research Program; but [*****]. 
 1.2 “ACI Confidential
Information” means Confidential Information disclosed or provided by, or on behalf of, ACI to Genentech or its designees, other than [*****]. 

1.3 “ACI IP Rights” means (i) all Patents which claim Tau-Active Antibodies (including assays, and methods of
immunization to generate, methods of making or methods of using any of the foregoing) or methods of screening or detecting Tau interaction, binding or modulation activity, which Patents include but are not limited to those set forth on Exhibit
A, and (ii) all other intellectual property rights in and to Know-How related to Licensed Products and Tau-Active Antibodies (including assays, and methods of immunization to generate, methods of making or methods of using any of the
foregoing) or methods of screening or detecting Tau interaction, binding or modulation activity; in each case (a) owned or Controlled by ACI or its Affiliates as of the Effective Date or during the Term of this 

 
  

			
	Research Collaboration and License Agreement (Tau)	  	1

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
	 CONFIDENTIAL
	  	   FINAL EXECUTION VERSION

  

 
Agreement, which shall include (A) those antibodies that have been generated as of the Effective Date utilizing the antigens set forth on Exhibit C but have not yet been sequenced or
characterized and (B) those antibodies that will be generated by ACI through the use of the antigens listed on Exhibit C (each in clauses (A) and (B), a “Discovery Antibody” or collectively the “Discovery
Antibodies”) (b) excluding (1) any [*****], (2) any claims which are specific to [*****], but in each case except to the extent rights to and under such claims which are specific to a [*****] are necessary for Genentech to
fully exploit its rights and activities as contemplated in this Agreement, including research, development and commercialization of Licensed Products in the Genentech Field and (3) any claims specifically directed to methods for producing
antibodies other than Tau-Active Antibodies [*****] Tau. 
 1.4 “ACI Licensee” means any Third Party which enters into an
agreement with ACI or an Affiliate of ACI involving the grant to such Third Party of a right to make, use, sell, offer for sale or import a Tau-Active Antibody outside the Genentech Field. 

1.5 “ACI Program IP Rights” has the meaning set forth in Section 7.2.1. 

1.6 “Additional Indication” means any disease condition, [*****]. 

1.7 “Affiliate” means any Person that, directly or indirectly (through one or more intermediaries) controls, is controlled
by, or is under common control with a Party. For purposes of this Section 1.9, “control” means (i) the direct or indirect ownership of fifty percent (50%) or more of the voting stock or other voting interests
or interest in the profits of the Party, or (ii) the ability to otherwise control or direct the decisions of the board of directors or equivalent governing body thereof. For purposes of this Agreement, with respect to Genentech, the term
“Affiliate” shall not include [*****] and its successors, or any entity that controls, is controlled by or is under common control with [*****], in each case that is not controlled by Genentech unless and until GNE [*****] provides
written notice to ACI specifying [*****] as an Affiliate of Genentech. 
 1.8 “Applicable Laws” means all applicable
statutes, ordinances, regulations, rules, or orders of any kind whatsoever of any government or regulatory authority, or court, of competent jurisdiction. 

1.9 “BLA” means a complete biologics license application as defined in, and containing the content, and in the format,
required by 21 C.F.R. § 600 et seq filed with the FDA, or a corresponding application with a Regulatory Authority in a country other than the United States, together with all replacements, additions, deletions, and supplements thereto. 

1.10 “Blocking Third Party Intellectual Property” has the meaning set forth in Section 5.7.2. 

1.11 “Business Day(s)” means any day, other than a Saturday, Sunday or day on which commercial banks located in San Francisco
or Lausanne are authorized or required by law or regulation to close. 
 1.12 “Change in Control” has the meaning set forth
in Section 14.3. 
 1.13 “Commercially Reasonable Efforts” means the exercise of such efforts and commitment of such
resources by [*****] 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	2

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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	  	   FINAL EXECUTION VERSION

  

 [*****]. 

1.14 “Competitor” has the meaning set forth in Section 14.3. 

1.15 “Confidential Information” means (i) all information and materials (of whatever kind and in whatever form or
medium) disclosed by or on behalf of a Party to the other Party (or its designee) in connection with this Agreement, including any Know-How, whether prior to or during the term of this Agreement (including any such information and materials
disclosed pursuant to the Confidential Disclosure Agreement between the Parties dated March 18, 2010, as amended) and whether provided orally, electronically, visually, or in writing; (ii) all copies of the information and materials
described in (i) above; and (iii) the existence and each of the terms and conditions of this Agreement. “Confidential Information” shall not include, to the extent a Party can demonstrate, through its contemporaneous
written records, information and materials (a) known to the receiving Party, or in the public domain, at the time of its receipt by a Party, or which thereafter becomes part of the public domain other than by virtue of a breach of this
Agreement or the obligations of confidentiality under this Agreement; (b) received without an obligation of confidentiality from a Third Party having the right to disclose without restriction such information; (c) independently developed
by the receiving Party without use of or reference to Confidential Information disclosed by the other Party; and (d) released from the restrictions set forth in this Agreement by the express prior written consent of the disclosing Party. 

1.16 “Control(s)” or “Controlled” means the possession by a Party, as of the Effective Date or during the
term of this Agreement, with respect to Know How or Patent rights either (i) physical possession or the right to such physical possession of those items, with the right to provide them to Third Parties; or (ii) rights sufficient to grant
the applicable license or sublicense under this Agreement, in each case without violating the terms of any agreement with any Third Party. 

1.17 “CRO” means a Third Party contract research organization. 

1.18 “Covers” or “Covered by,” or the like, with reference to a particular Licensed Product means that the
making, using, selling, offering for sale, or importing of such Licensed Product would, but for ownership of, or a license granted under this Agreement to, the relevant Patent infringe a Valid Patent Claim of the relevant Patent in the country in
which the activity occurs. 
 1.19 “Diagnostic Field” means the detection and/or quantification of the presence or amount
of an analyte in body fluids or tissue that affects the pathogenesis of any disease or a biological marker or a set of biological markers shown to indicate a predisposition to any disease. 

1.20 “Diagnostic Net Sales” mean, with respect to sales or other dispositions of a Diagnostic Product, [*****] 

 

	 	a)	[*****] 

  

	 	b)	[*****] 

 [*****] 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	3

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 [*****] 

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

[*****] 
 1.21
“Diagnostic Product” means any product, method or technologies in the form of a device, compound, kit or service that contains a Tau Active Antibody for use in the Diagnostic Field. 

1.22 “Discovery Antibody IP Rights” means a Valid Patent Claim within the ACI IP Rights that Covers a Discovery Antibody.

 1.23 “Discovery Antibody(ies)” has the meaning set forth in Section 1.3. 

1.24 “Dispute” has the meaning set forth in Section 13.1. 

1.25 “ED-Go Decision” has the meaning set forth in Section 5.2.1(a). 

1.26 “Effective Date” has the meaning set forth in the introductory paragraph of the Agreement. 

1.27 “EMA” means the European Medicines Agency, or any successor thereto. 

1.28 “FDA” means the U.S. Food and Drug Administration or corresponding governmental authority in another country, or any
successor thereto. 
 1.29 “Filing” or “Filed” means, with respect to an application for Marketing
Approval that such application has been filed with and accepted for review by the appropriate Regulatory Authority. 
 1.30 “First
Commercial Sale” means, with respect to a particular Licensed Product in a given country, the first bona fide arm’s length commercial sale of such Licensed Product following Marketing Approval in such country by or under authority of
Genentech, its Affiliates or Genentech Licensees to a Third Party. 
 1.31 “FTE” means a full-time person, or more than one
person working the equivalent of a full-time person, where “full-time” is determined by the standard practices in the biopharmaceutical industry in the geographic area in which such personnel are working. 

1.32 “Genentech Confidential Information” means Confidential Information disclosed or provided by, or on behalf of, Genentech
to ACI or its designees, other than Program Confidential 

  
  

			
	Research Collaboration and License Agreement Tau	  	4

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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Information. 
 1.33 “Genentech Field” means the [*****]. 

1.34 “Genentech IP Rights” means (i) all Patents which claim a Tau-Active Antibody (including a method of making or
using a Tau-Active Antibody) or assays, methods of screening or detecting Tau interaction and (ii) all other intellectual property rights, or rights in confidential or proprietary information, relating to a Tau-Active Antibody; in each case
owned or Controlled by GNE as of the Effective Date or during the Term of this Agreement and all Genentech Program IP Rights and Genentech’s interest in the Joint Program IP Rights. Genentech IP Rights are exclusive of any ACI IP Rights
licensed to Genentech under this Agreement. 
 1.35 “Genentech Licensee(s)” means any Third Party which enters into an
agreement with Genentech or an Affiliate of Genentech involving the grant to such Third Party of a right to make, use, sell, offer for sale or import a Tau-Active Antibody or Licensed Product or a sublicense under any of the licenses granted to
Genentech hereunder. 
 1.36 “Genentech Program IP Rights” has the meaning set forth in Section 7.2.1. 

1.37 “ICC” has the meaning set forth in Section 13.2. 

1.38 “ICC Rules” has the meaning set forth in Section 13.2. 

1.39 “IFRS” shall mean the International Financial Reporting Standards (IFRS), consistently applied. 

1.40 “Improvements” has the meaning set forth in Section 7.2.2. 

1.41 “IND” means a complete “Investigational New Drug Application” as defined in 21 C.F.R. 312.3 and
containing the content, and in the format, required by 21 C.F.R. 312.23, or a corresponding application with a regulatory agency in a country other than the United States, together with all additions, deletions, and supplements thereto. 

1.42 “Joint Program IP Rights” has the meaning set forth in Section 7.2.1. 

1.43 “Joint Research Committee” or “JRC” has the meaning set forth in Section 2.2.1. 

1.44 “Know-How” means all compositions of matter, techniques and data and other know-how and technical information, including
inventions (whether or not patentable), improvements and developments, practices, methods, concepts, know-how, trade secrets, documents, computer data, computer code, apparatus, clinical and regulatory strategies, test data, analytical and quality
control data, formulation, manufacturing, patent data or descriptions, development information, drawings, specifications, designs, plans, proposals and technical data and manuals and all other proprietary information. 

1.45 “K.U. Leuven Agreement” has the meaning set forth in Section 4.3.3. 

1.46 “Licensed Product(s)” means (i) any product containing a Tau-Active Antibody for use in the Therapeutics Field or
(ii) a Diagnostic Product. [*****]. 
 1.47 “Major European Country” means Germany, France, the United Kingdom, Spain
or Italy. 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	5

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
	 CONFIDENTIAL
	  	   FINAL EXECUTION VERSION

  

 1.48 “Marketing Approval” means all approvals, licenses, registrations or
authorizations of any federal, state or local regulatory agency, department, bureau or other governmental entity, necessary for the manufacturing, use, storage, import, transport, marketing and sale of Licensed Products in a country or regulatory
jurisdiction. For countries where governmental approval is required for pricing or reimbursement for the Licensed Product, “Marketing Approval” shall not be deemed to occur until such pricing or reimbursement approval is obtained.

 1.49 “Milestone” has the meaning set forth in Section 5.2.1. 

1.50 “Net Sales” of a Licensed Product in a particular period means [*****] 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	6

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 [*****] 

1.51 “Outside Patent Counsel” has the meaning set forth in Section 7.4.3. 

1.52 “Patent(s)” means a patent or a patent application, including any additions, divisions, continuations,
continuations-in-part, pipeline protection, invention certificates, substitutions, reissues, reexaminations, extensions, registrations, patent term extensions, supplementary protection certificates and renewals of any of the above. 

1.53 “Patent Infringement Dispute” has the meaning set forth in Section 13.3. 

1.54 “Person” means any person or entity, including any individual, trustee, corporation, partnership, trust, unincorporated
organization, limited liability company, business association, firm, joint venture or governmental agency or authority. 
 1.55
“Phase I Clinical Trial” means, as to a specific Therapeutic Product, a controlled and lawful study in humans designed with the principal purpose of preliminarily determining the safety of a pharmaceutical product in healthy
individuals or patients, and for which there are no primary endpoints related to efficacy, as further defined in 21 C.F.R. § 312.21(a); or similar clinical study in a country other than the United States. 

1.56 “Phase II Clinical Trial” means, as to a specific Therapeutic Product, a controlled and lawful study in humans designed
with the principal purpose of determining initial efficacy and dosing of such Licensed Product in patients for the indication(s) being studied, as further defined in 21 C.F.R. § 312.21(b); or similar clinical study in a country other than the
United States. 
 1.57 “Phase III Clinical Trial” means, as to a specific Therapeutic Product, a controlled and lawful
study in humans of the efficacy and safety of such Licensed Product, which is prospectively designed to demonstrate statistically whether such Licensed Product is effective and safe for use in a particular indication in a manner sufficient to file
an application to obtain Marketing Approval to market and sell that Licensed Product in the United States or another country for the indication being investigated by the study, as further defined in 21 C.F.R. § 312.21; or similar clinical study
in a country other than the United States. 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	7

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 1.58 “Product Reversion Package” means, [*****]. 

1.59 “Program Antibody” means any Tau-Active Antibody created, discovered, conceived or reduced to practice by the Parties
jointly or solely by either Party during the conduct of activities under the Research Program or Research Plan during the Research Term. 

1.60 “Program IP Rights” means (i) all Patents which claim a (including a method of making or using) Know How conceived,
reduced to practice or otherwise created during the conduct of and in connection with activities under the Research Program or Research Plan (whether solely by one Party and/or its respective employees, contractors or consultants or jointly by the
Parties and/or their employees, contractors or consultants), and (ii) all other intellectual property rights, or rights in confidential or proprietary information, in and to Know-How conceived, reduced to practice or otherwise created during
the conduct of and in connection with activities under the Research Program or Research Plan (whether solely by one Party and/or its respective employees, contractors or consultants or jointly by the Parties and/or their employees, contractors or
consultants). [*****]. 
 1.61 “Program Confidential Information” means (i) all information and materials (of whatever
kind and in whatever form or medium), including any Know-How, created by, or on behalf of, either Party, or created jointly by the Parties during the course of performing the activities contemplated by the Research Plan and (ii) all copies of
the information and materials described in (i) above. “Program Confidential Information” shall not include, to the extent a Party can demonstrate, through its contemporaneous written records, information and materials
(a) known to either Party, or in the public domain, prior to its creation hereunder, or which thereafter becomes part of the public domain other than by virtue of a breach of this Agreement or the obligations of confidentiality under the
Agreement; (b) received without an obligation of confidentiality from a Third Party having the right to disclose without restrictions such information; and (c) released from the restrictions set forth in this Agreement by the express prior
written consent of the other Party. 
 1.62 “Prosecution and Maintenance” or “Prosecute and Maintain,” has the
meaning set forth in Section 7.4.1. 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	8

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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	  	   FINAL EXECUTION VERSION

  

 1.63 “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 of the world, involved in the granting of Marketing Approval. 

1.64 “Research Plan” means the written research plan for the Research Program to be prepared by the Parties in accordance
with Section 2.1. The initial draft Research Plan is set forth on Exhibit B. The Research Plan may be amended or modified from time to time by the Joint Research Committee by written agreement or as evidenced in the approved
minutes of the JRC meetings. 
 1.65 “Research Program” means the program of research and preclinical development the
Parties engage in under this Agreement, which program is set forth on the Research Plan. 
 1.66 “Research Term” means the
period of time during which each Party will undertake activities in the Research Program or on the Research Plan, as such period of time is identified in Section 2.6. 

1.67 “ROFN Period” has the meaning set forth in Section 4.5. 

1.68 “Tau” means the microtubule-associated protein known as tau and all isoforms thereof. 

1.69 “Tau-Active Antibody” means any antibody protein, including variants, modifications, fragments or derivatives thereof,
that binds to and interacts with or modulates Tau or variants, modifications, derivatives or fragments of Tau. 
 1.70
“Term” has the meaning set forth in Section 9.1. 
 1.71 “Termination Product” means a
Therapeutic Product that (a) exists as of the date of termination (but not expiration) of this Agreement and (b) contains [*****] as an active ingredient. 

1.72 “Territory” means the entire world. 

1.73 “Therapeutic Field” means the prevention, cure, amelioration or treatment of any disease or condition, in each case
other than by means of [*****]. 
 1.74 “Therapeutic Product” means any Licensed Product developed and/or marketed for use
in the Therapeutic Field, but expressly excluding [*****]. 
 1.75 “Third Party” means a Person that is not a Party to this
Agreement or an Affiliate of a Party to this Agreement. 
 1.76 “United States” means the United States of America, its
territories and possessions as of the Effective Date, including the Commonwealth of Puerto Rico. 
 1.77 “Valid Patent
Claim” means a claim of an issued and unexpired Patent which has not been disclaimed, revoked, held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within
the time allowed for appeal, and which has not been admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. 

1.78 “Vaccine Product” means an active vaccination product that incorporates Tau or any variant, derivative, modification, or
fragment of Tau for use as a vaccine. 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	9

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 1.79 “Vaccine Product Rights” mean (i) all Patents which claim Know-How
related to Vaccine Products (including methods of making or using Vaccine Products), and (ii) all other intellectual property rights, or rights in confidential or proprietary information, in and to Know-How specific to a Vaccine Product; in
each case owned or Controlled by ACI as of the Effective Date or during the Term of this Agreement 
 ARTICLE 2: RESEARCH PROGRAM 

2.1 Research Program Overview and Responsibilities. Under this Agreement, the Parties are establishing a Research Program directed to
the advancement and research of existing ACI Antibodies and the development of new antibodies. The Research Program will be coordinated by the Joint Research Committee. The Research Program will be described, and the Parties’ responsibilities
with respect to the Research Program will be set forth, in the Research Plan. Each Party shall use diligent efforts to perform its respective responsibilities under the Research Plan and for the Research Program, and shall cooperate with and provide
reasonable support to the other Party in such other Party’s performance of its responsibilities thereunder. 
 2.2 Joint Research
Committee. 
 2.2.1 The JRC. Within [*****] days after the Effective Date, the Parties shall establish a committee to oversee the
Research Program, and to plan and coordinate the activities under the Research Plan (“Joint Research Committee” or “JRC”). The JRC will be composed of three (3) representatives designated by each Party (or such
other number as the Parties may agree, provided that each of the Parties shall have the same number of JRC members). Representatives must be appropriate for the tasks then being undertaken and the stage of research or pre-clinical development, in
terms of their seniority, availability, function in their respective organizations, training and experience. Each Party shall designate one of its representatives as its primary JRC contact. Either Party may replace any or all of its representatives
to the JRC at any time upon prior written notice to the other Party. If a Party’s representative is unable to attend a meeting, that Party may designate an alternate representative. 

2.2.2 Meetings. The JRC shall meet at such times as are unanimously agreed to by the JRC members, but no less than once each calendar
quarter. Such meetings may be in-person, via videoconference, or via teleconference, provided that at least one meeting per calendar year shall be held in person. JRC meetings must be attended by at least one representative from each Party.
The location of in-person JRC meetings will alternate between South San Francisco, California and Lausanne, Switzerland, unless otherwise agreed to by the Parties. Each Party will bear the expense of its respective Committee members’
participation in JRC meetings. he JRC shall record all decisions made, and otherwise take minutes as appropriate. Genentech shall have the responsibility for keeping minutes. JRC meeting minutes will be sent to each member of the JRC for review as
soon as practicable after a meeting. A Party may, with the prior written consent of the other Party, invite a reasonable number of non-voting employees, consultants or scientific advisors to attend a meeting of the JRC. Those invitees must be bound
by appropriate confidentiality obligations. 
 2.2.3 Responsibilities of the JRC. Subject to Section 2.2.4, the Joint
Research Committee shall perform the following functions: 
 (i) review and amend the Research Plan, as needed; 

(ii) review the allocation of resources and efforts for the Research Program; 

(iii) monitor the progress of the Research Program; 

  
  

			
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 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 (iv) subject to Section 2.3, coordinate, and be the primary
conduit for, the transfer of ACI Antibodies, Program Antibodies and related research materials, Know-How, and Confidential Information between the Parties; and 

(v) Perform such other functions referred to in the Research Plan, as appropriate to further the purposes of the Research
Program, or as otherwise specified in this Agreement or agreed to by the Parties. 
 2.2.4 Decision-Making Authority. The Joint
Research Committee will attempt to make decisions by consensus. If the JRC cannot reach consensus, then Genentech shall have final decision making authority; except for the following, which require agreement of the Parties: [*****]. 

2.3 Transfer of Know-How During Research Term. 

2.3.1 JRC Meetings and Communication. In addition to JRC meetings, project team scientists working on the Research Plan shall have
periodic meetings or teleconference or videoconference discussions. 
 2.3.2 Ongoing Transfer of ACI Antibodies and related Know-How.
Within [*****] days of the Effective Date, ACI shall deliver to Genentech: (a) a reasonable amount of research materials [*****] and (b) other Know-How related to the rights granted to Genentech by this Agreement in ACI’s control as
of the Effective Date. On an ongoing basis during the Term, ACI shall, as determined by the JRC, deliver to Genentech: (i) a reasonable amount of research materials [*****] and (ii) other Know-How created under the Research Plan or
otherwise obtained by ACI and not already in Genentech’s possession. 
 2.3.3 Written Reports. At least once every calendar
quarter during the Research Term and within [*****] following the end of the Research Term, ACI shall provide to Genentech, through the JRC, the following written communications regarding work undertaken or assigned as part of the Research Program:
(a) a written description of significant discoveries or advances, promptly after such results are obtained or their significance is appreciated; (b) a written summary of research conducted and the results thereof, including any antibodies
made or discovered, the results of in vitro and in vivo studies, any inventions conceived or reduced to practice, on at least a calendar quarter basis; (c) raw data for research undertaken under the Research Program, upon request of Genentech;
and (d) a list of the CROs performing activities during that calendar quarter and a brief summary of the work performed by each CRO. The foregoing reporting obligation may be satisfied in the form of a joint report created by the Parties
following a JRC meeting, such joint report to reflect the information contained in Research Program updates made by the Parties at such JRC meeting along with supporting raw data. 

2.4 Subcontracting. ACI may use CROs or research institutions to outsource some of its activities under the Research Plan provided that
ACI shall delegate such responsibilities to CROs or research institutions in writing. All individual contractors or consultants performing any of ACI’s activities under a Research Plan must have entered into a written agreement with ACI that
includes terms and conditions protecting and limiting use and disclosure of Confidential Information and Know-How to the same extent as under this Agreement, and requiring all such individuals to assign to ACI all right, title and interest in and to
any intellectual property (and intellectual property rights) created, discovered, conceived or reduced to practice in conducting such activities. ACI is responsible for compliance by 

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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CROs, research institutions and Third Party FTEs with the terms and conditions of this Agreement as if those CROs, research institutions and Third Party FTEs were ACI’s employees. 

2.5 Research Costs. During the Research Term, each Party shall perform, at its expense, those activities to be undertaken by such Party
as set forth in the Research Plan. 
 2.6 Research Term. The Research Term commences as of the Effective Date and, unless the
Agreement is earlier terminated under Article 9, or the Research Program is earlier terminated under Section 14.1, shall continue until either (a) Genentech notifies ACI of termination of the Research Term at any time following the [*****]
of the Effective Date or (b) ACI notifies Genentech of termination of the Research Term at any time following the earlier of (i) the date on which the first Therapeutic Product is administered to the first human subject in a Phase I
Clinical Trial, or (ii) [*****] years after the Effective Date. After [*****] months following the end of the Research Term, the JRC is no longer required to meet. 

ARTICLE 3: DEVELOPMENT AND COMMERCIALIZATION EFFORTS 

3.1 Development and Commercialization Responsibilities. 

3.1.1 Exclusive Genentech Right. Except for those activities set forth in the Research Plan, as between the Parties, Genentech (and, if
applicable, Genentech Licensees) have the sole right and responsibility for, and control over, all research, development, manufacturing and commercialization activities, including all regulatory activities, with respect to any Licensed Products.

 3.1.2 Development Costs. Except as otherwise agreed to by the Parties, [*****] shall bear all costs and expenses associated with
research, development, manufacturing and commercialization activities with respect to Licensed Products, excluding costs incurred by [*****] in performance of its activities under the Research Plan. 

3.1.3 ACI Cooperation. ACI shall, and shall cause its employees, contractors and agents to, cooperate with and provide reasonable
support and assistance to Genentech in its conduct of any activities in the research, development, manufacturing and commercialization, including in the seeking of Marketing Approval, of Licensed Products. [*****] shall [*****] for any [*****]
reasonably incurred by [*****] in connection with such cooperation and support provided that such [*****] are approved in advance by [*****]. 

3.1.4 Development Updates. Throughout the Term, Genentech shall provide to ACI periodic updates on the plan for development of Licensed
Products containing ACI Antibody(ies) or Program Antibody(ies) under this Agreement on at least a [*****] basis. Such updates to include a summary of any significant progress or advances along with a general description of Genentech’s then-current plan of development. It is understood and agreed that the development plan summaries provided under this Section 3.1.4 are non-binding and provided to ACI for informational purposes only.

 3.2 Genentech Diligence. Genentech shall use Commercially Reasonable Efforts to develop and commercialize at least one Licensed
Product (other than a Diagnostic Product) for Alzheimer’s disease [*****] as indicated by compelling biologic rationale and commercial viability, and one Diagnostic Product for Alzheimer’s disease (whereby the failure to use Commercially
Reasonable Efforts to develop a Diagnostic Product only entitles ACI to pursuant to Section 9.2.1 partially terminate the license for Diagnostic Products). Activities by Genentech Licensees and Affiliates

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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will be considered as Genentech’s activities under this Agreement for purposes of determining whether Genentech has complied with its obligations under this Section 3.2. 

3.3 Development of Licensed Products. 

3.3.1 Generally. The Parties intend and agree that filing for any Marketing Approval and commercialization of Licensed Products shall be
controlled by Genentech. Without limiting the generality of the foregoing, Genentech shall be responsible for making and have authority to make all decisions, and undertake any actions necessary as a result of such decisions, regarding development
(including additional preclinical and clinical development and testing), selecting drug candidates and preparing and filing BLAs and any other applications for Marketing Approval. Genentech shall own all regulatory submissions, including all
Marketing Approvals and applications therefor, for Licensed Products in the United States. 
 3.3.2 Cooperation. ACI shall cooperate
with and provide reasonable support to Genentech in its conduct of any activities in the development and seeking of Marketing Approval of Licensed Products. Without limiting the generality of the foregoing, ACI shall assist Genentech and any
Genentech Licensee in the preparation and filing of any applications for Marketing Approval with respect to Licensed Products, including by delivering all information in ACI’s Control (in a complete and accurate form) necessary or useful to
complete and file any Marketing Approval for a Licensed Product in the United States. [*****] shall [*****] for any [*****] reasonably incurred by [*****] in connection with such cooperation and support provided that such [*****] are approved in
advance by [*****]. 
 3.3.3 Transfer of Information and Regulatory Filings. Within [*****] days following the Effective Date and on
an ongoing basis during the Term, ACI agrees to transfer to Genentech all Know-How, including any preclinical data, assays and associated materials, protocols, reports, procedures and any other information in ACI’s Control, necessary or useful
to continue or initiate pre-clinical or clinical development, or in seeking Marketing Approval, of Licensed Products. 
 3.3.4
Manufacturing and Supply. Genentech shall be responsible for manufacturing and supplying Licensed Products for clinical use and commercial sale in the Genentech Field. 

ARTICLE 4: LICENSE GRANTS, NEGOTIATION RIGHT 

4.1 License Grants to Genentech. 

4.1.1 Therapeutic License. ACI hereby grants to Genentech, and Genentech hereby accepts an exclusive (even as to ACI) right and license
under the ACI IP Rights, the ACI Program IP Rights and ACI’s interest in the Joint Program IP Rights to research, develop, make, have made, use, sell, offer for sale and import Tau-Active Antibodies and Licensed Products in each case for use in
the Therapeutic Field in the Territory. The license granted to Genentech in this Section 4.1.1 shall include the right to sublicense to multiple tiers of Third Parties in accordance with the terms of Section 4.6. 

4.1.2 Diagnostic License. ACI hereby grants to Genentech, and Genentech hereby accepts an exclusive (even as to ACI) right and license
under the ACI IP Rights, the ACI Program IP Rights and ACI’s interest in the Joint Program IP Rights to research, develop, make, have made, use, sell, offer for sale and import Tau-Active Antibodies and Licensed Products for use in the
Diagnostic Field in the Territory. The license granted to Genentech in this Section 4.1.2 shall include the right to sublicense to multiple tiers of Third Parties in accordance with the terms of Section 4.6. 

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 4.1.3 For the avoidance of doubt, no license is granted to Genentech to make, use, sell,
offer for sale or import [*****], provided however that nothing in this Section 4.1.3 shall limit Genentech’s right to make any biological materials for use in the research and development of Licensed Products. 

4.2 License Grant to ACI for Conduct of the Research Program. Subject to the terms of this Agreement, Genentech hereby grants to ACI a
non-exclusive, non-transferable, non-sublicenseable (except as expressly provided in Section 2.4), right and license under the (i) ACI IP Rights (to the extent exclusively licensed to Genentech hereunder), (ii) ACI Program IP Rights
and ACI’s interest in the Joint Program IP Rights (each to the extent exclusively licensed to Genentech hereunder), and (iii) Genentech IP Rights, in each case to research, develop, make and use (but not to sell or offer for sale)
Tau-Active Antibodies solely to the extent necessary for ACI to conduct those activities specified in the Research Plan or to otherwise generate and develop Discovery Antibodies for use or inclusion in the Research Program. 

4.3 Exclusivity; Restrictions. 

4.3.1 ACI shall not (i) provide any Tau-Active Antibodies or Licensed Products to any Third Party; or (ii) provide to any Third Party
any methods of screening for, identifying or making any Tau-Active Antibodies or Licensed Products, except as expressly provided in, and in strict accordance with, Section 2.4. For clarity, the foregoing restriction will not apply to
limit ACI’s use or transfer of Tau-Active Antibodies and related methods of screening, identification or manufacture, with respect to ACI’s activities outside the Genentech Field, including without limitation the research, development and
commercialization of Vaccine Products. 
 4.3.2 During the Term, the Parties agree that Genentech shall have the sole right to develop and
commercialize Tau-Active Antibodies and ACI shall not have any rights to develop or commercialize products containing Tau-Active Antibodies for any purpose. 

4.3.3 Academic Research. ACI may provide Tau-Active Antibody material existing prior the Effective Date to Katholieke Universiteit
Leuven (“K.U. Leuven”) solely for use in the academic research performed under the agreement entered into between ACI and K.U. Leuven effective as of July 1, 2008 (the “K.U. Leuven Agreement”) provided,
however, that (i) use of such Tau-Active Antibodies shall not conflict with Genentech’s exclusive rights under this Agreement; and (ii) all intellectual property rights (including but not limited to Patents and Know-How) made pursuant
to the K.U. Leuven Agreement shall be included within the ACI IP Rights to the extent necessary or useful to Genentech in exercising its rights under the licenses granted in this Agreement. 

4.3.4 Leuven License. ACI has provided to Genentech a true and correct copy (except for redactions of financial terms) of that certain
License Agreement between ACI and K. U. Leuven dated September 22, 2010 (the “Leuven License”). Genentech acknowledges that Leuven retained certain rights as set forth in the License Agreement and ACT has certain obligations
owed to Leuven and that the rights granted under this Agreement are subject to those retained rights and obligations. ACI shall not commit any acts or omissions that could cause a material breach of the Leuven License, such that K. U. Leuven would
be entitled to terminate the Leuven License or amend it in any way that would adversely affect a license or other rights granted to GNE under this Agreement. In addition, (i) without the prior written consent of GNE, ACI shall not exercise any
rights it may have with respect to the Leuven License or amend, terminate, or waive any of its rights under, the Leuven License in any way that would adversely affect a license or other rights granted to GNE under this Agreement and (ii) ACI
agrees to promptly notify GNE in the event that ACI receives notice of any alleged breach of the Leuven License or otherwise has reason to believe such an allegation is likely. ACI agrees that GNE may take any action

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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necessary to remedy any actual or alleged breach of the Leuven License where such action does not relieve ACI from any obligation hereunder. 

4.4 No Implied Licenses. Each Party acknowledges that the licenses granted under this Article 4 are limited to the scope expressly
granted, and all other rights under a Party’s Patents and other intellectual property rights are expressly reserved to the granting Party. 

4.5 Right of First Negotiation. Promptly following the Effective Date, ACI shall provide to Genentech all information in ACI’s
Control as reasonably necessary or useful for Genentech to evaluate its interest in the Vaccine Product Rights (including information and data regarding safety, efficacy, toxicity, potential side effects and any and all Marketing Approval filings).
Genentech shall have [*****] calendar days from receipt of such notice to notify ACI of Genentech’s intent to negotiate for the Vaccine Product Rights. Upon receipt by ACI of Genentech’s notice of intent to negotiate, ACI shall negotiate
solely and in good faith with Genentech for a period of [*****] calendar days (the “ROFN Period”). If the Parties are unable to agree on substantive terms within the ROFN Period, Genentech shall promptly reduce to writing its last
offer to ACI and provide such writing to ACI, and ACI shall be free to enter into an agreement with a Third Party for the sale or licensing of the ACI Vaccine Rights provided that the terms of such agreement when taken as a whole shall be no more
favorable to the Third Party than those last offered by Genentech. If ACI is unable to enter into an agreement with a Third Party on terms that are not more favorable to the Third Party than those terms last offered by Genentech and ACI notifies
Genentech of ACI’s desire to resume negotiations, the Parties agree to negotiate in good faith to reach a definitive agreement on mutually acceptable terms. 

4.6 Sublicenses. Genentech may sublicense its rights under the license set forth in Section 4.1, provided that any such
sublicense agreement is consistent with the terms and conditions of this Agreement. In the event of any such sublicense, Genentech shall continue to remain primarily liable for all liabilities and obligations under this Agreement, including the
payment obligations set forth in Article 5. Genentech is responsible for compliance by Genentech Licensees with the terms and conditions of this Agreement and the applicable sublicense agreement, including the diligence obligations set forth
in Section 3.2. 
 ARTICLE 5: PAYMENTS 

5.1 Up-Front Payment. In consideration for the rights granted and promises made hereunder, including the license granted to Genentech
under the ACI IP Rights, Genentech shall, within thirty (30) days of the Effective Date, pay to ACI a one-time payment of seventeen million Swiss Francs (CHF 17,000,000). 

5.2 Therapeutic Product Milestone Payments. 

5.2.1 With respect to the first Therapeutic Product containing an ACI Antibody (including a Discovery Antibody) or a Program Antibody (each a
“Milestone Product”) to achieve the clinical development, Marketing Approval Filing, or First Commercial Sale milestones (each a “Milestone”) set forth below, within [*****] days of the first occurrence that each
such Milestone is achieved, Genentech shall pay ACI the amounts set forth herein below. 
 (a) [*****] upon [*****] 

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 [*****] 

(b) [*****] upon commencement [*****] 

(c) With respect to Alzheimer’s disease indication: 
  

	 	(i)	[*****] upon [*****]; 

  

	 	(ii)	[*****] upon [*****]; 

  

	 	(iii)	[*****] upon [*****]; 

  

	 	(iv)	[*****] upon [*****]; 

  

	 	(v)	[*****] upon [*****]; 

  

	 	(vi)	[*****] upon [*****]; 

  

	 	(vii)	[*****] upon [*****]; and 

  

	 	(viii)	[*****] upon [*****]. 

 (d) With respect to each of the first [*****] to achieve the
applicable Milestone: 
  

	 	(i)	[*****] upon [*****]; 

  

	 	(ii)	[*****] upon [*****]; 

  
  

			
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 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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	 	(iii)	[*****] upon [*****]; 

  

	 	(iv)	[*****] upon [*****]; 

  

	 	(v)	[*****] upon [*****]; 

  

	 	(vi)	[*****] upon [*****]; 

  

	 	(vii)	[*****] upon [*****]; and 

  

	 	(viii)	[*****] upon [*****]. 

 5.3 Diagnostic Product Milestone Payments. Upon [*****],
Genentech shall pay ACI [*****]. Within [*****] days following the end of the first calendar year in which Diagnostic Net Sales for such calendar year equal or exceed [*****] Genentech shall pay ACI [*****]. 

5.4 Therapeutic Product Royalties. In consideration for the rights granted hereunder, in each calendar quarter during the Term of this
Agreement in which Genentech records Net Sales of a Therapeutic Product, royalties as follows: 
 5.4.1 For Net Sales of a Therapeutic
Product Covered by a Valid Patent Claim within the ACI IP Rights in the country of sale other than the Discovery Antibody IP Rights in such country, and subject to and in accordance with the terms and conditions of this Agreement, Genentech shall
pay to ACI, on a Therapeutic Product-by-Therapeutic Product and country-by-country basis, an amount equal to [*****] of such annual Net Sales. 

5.4.2 For Net Sales of a Therapeutic Product Covered by the Discovery Antibody IP Rights in the country of sale and not Covered by any other
Valid Patent Claim within the ACI IP Rights in such country, and subject to and in accordance with the terms and conditions of this Agreement, Genentech shall pay to ACI, on a Therapeutic Product-by-Therapeutic Product and country-by-country basis,
an amount equal to [*****] of such annual Net Sales. 
 5.4.3 For Net Sales of a Therapeutic Product Covered by a Valid Patent Claim within
the ACI Program IP Rights or ACI’s interest in the Joint Program IP Rights in the country of sale (and not covered by a Valid Patent Claim within the ACI IP Rights), and subject to and in accordance with the

  
  

			
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 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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terms and conditions of this Agreement, Genentech shall pay to ACI, on a Therapeutic Product-by- Therapeutic Product and country-by-country basis, an
amount equal to [*****] of such annual Net Sales. 
 5.4.4 For Net Sales of Therapeutic Products that contain as an active ingredient a
Tau-Active Antibody that is (i) an ACI Antibody or (ii) is generated by Genentech using proprietary screening technology within the ACI IP Rights and such Therapeutic Product is not Covered by a Valid Patent Claim within the ACI IP Rights
(including the Discovery Antibody IP Rights), the ACI Program IP Rights or the Joint Program IP Rights in the country of sale, a royalty equal to [*****] of annual Net Sales, provided, however, that royalty payment obligations under this
Section 5.4.4 shall terminate, on a country-by-country basis, upon the date that is [*****] years from the date of First Commercial Sale of the applicable Therapeutic Product in a country. For the sake of clarity, royalties paid under this
Section 5.4.4 shall be mutually exclusive of royalties to be paid under Sections 5.4.1-5.4.3; in no event shall royalties be paid under this Section 5.4.4 on Net Sales of Therapeutic Products Covered by a Valid Patent Claim
of the ACI IP Rights for which the royalty is paid under Section 5.4.1 or 5.4.2 or of the ACI Program IP Rights or Joint Program IP Rights for which a royalty is paid under 5.4.3. 

5.5 Diagnostic Product Royalties. In consideration for the rights granted hereunder, in each calendar quarter during the Term of this
Agreement in which Genentech records Diagnostic Net Sales of a Diagnostic Product Covered by a Valid Patent Claim within the ACI IP Rights, the ACI Program IP Rights or the Joint Program IP Rights in the country of sale, and subject to and in
accordance with the terms and conditions of this Agreement, Genentech shall pay to ACI, on a Diagnostic Product-by- Diagnostic Product and country-by-country basis, an amount equal to [*****] of such annual
Diagnostic Net Sales. 
 5.6 Timing of Payments. All payments due under Sections 5.4 and 5.5 shall be paid in quarterly installments
and be paid within [*****] days following the end of each calendar quarter. 
 5.7 Deductions from Payments. 

5.7.1 If in Genentech’s reasonable business judgment it is necessary to obtain a license under a issued patent of a Third Party in
connection with the research, development, manufacture, distribution, use, sale, import or export of a Therapeutic Product, [*****], including fee, royalty or other payment, against the royalties payable pursuant to Section 5.4.1 –
5.4.3 above; provided, that [*****]. 
 5.7.2 If in Genentech’s reasonable business judgment it is necessary to obtain a license
under any Blocking Third Party Intellectual Property in connection with the research, development, manufacture, distribution, use, sale, import or export of a Diagnostic Product, [*****], including fee, royalty or other payment, against the
royalties payable pursuant to Section 5.5 above; [*****] shall be in addition to, and not in lieu of, any other rights or claims Genentech may have under this Agreement or otherwise. For the purposes of this Section 5.7.2,
“Blocking Third Party Intellectual Property” means, with respect to any country in the Territory, Patent rights in such country owned or controlled by a Third 

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 Party that cover specific reagents, assays and/or platform or any other technology required for use or sale
of a Diagnostic Product, if the manufacture, use or sale of such Diagnostic Product would in the absence of a license granted by such Third Party, infringe such Patent rights. 

5.7.3 For clarity, in no event will royalties payable on Therapeutic Products pursuant to Section 5.4 be reduced below a rate of
[*****] of annual Net Sales. 
 5.8 Additional Royalty Terms. 

5.8.1 Single Royalty. Notwithstanding anything herein to the contrary, with respect to any Licensed Product only a single royalty
payment shall be due and payable, regardless if such Licensed Product is covered by more than one Valid Patent Claim or contains more than one component Covered by a Valid Patent Claim. 

5.8.2 Royalty Term; Fully Paid Licenses. Where tied to a Valid Patent Claim, royalties under this Article 5 are payable only
during time periods in which sale of the applicable Licensed Product is Covered by a Valid Patent Claim in the applicable country. Upon expiration of the obligation to pay royalties for a particular Licensed Product in a given country under
Section 5.4 and Section 5.5, the licenses granted to the Party under this Agreement with respect to such Licensed Product in such country shall become fully paid and irrevocable. 

ARTICLE 6: REPORTS, AUDITS AND FINANCIAL TERMS 

6.1 Reports. 
 6.1.1
Royalty Reports. Within [*****], Genentech shall send to ACI a report of Net Sales of the Licensed Products for which a royalty is due, which report sets forth for such calendar quarter the following information: (i) total Net Sales of
all Licensed Products sold in the Territory during such calendar quarter, (ii) the exchange rate used to convert Net Sales from the currency in which they are earned to Swiss Francs (CHF), (iii) Net Sales on a country-by-country basis for
each of [*****] and (iv) the total royalty payments due. 
 6.2 Additional Financial Terms. 

6.2.1 Currency. All payments to be made under this Agreement shall be made in Swiss Francs (CHF). Amounts invoiced in a currency other
than Swiss Francs must be expressed in the Swiss Francs (CHF) equivalent as well as any local currency. Net Sales shall be first determined in the currency in which they are earned and shall then be converted into an amount in Swiss Francs (CHF).
All currency conversions shall use the conversion rate used by Roche for its then-current external reporting requirements, consistently applied. 

6.2.2 Payment Type. Amounts paid by one Party to the other under this Agreement shall be paid in Swiss Francs (CHF), in immediately
available funds, by means of wire transfer to an account identified by the payee. 
 6.2.3 Withholding of Taxes. Each Party may
withhold from payments due to the other Party amounts for payment of any withholding tax that is required by law to be paid to any taxing authority with respect to such payments. The Party withholding the tax shall provide to the other Party all
relevant documents and correspondence, and shall also provide to the Party from whose payment that tax 

  
  

			
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UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 was withheld any other cooperation or assistance on a reasonable basis as may be necessary to enable that
Party subject to withholding to claim exemption from such withholding taxes and to receive a full refund of such withholding tax or claim a foreign tax credit. The Party withholding the tax shall give proper evidence from time to time as to the
payment of such tax. The Parties shall cooperate with each other in seeking deductions under any double taxation or other similar treaty or agreement from time to time in force. Such cooperation may include Genentech making payments from a single
source in the U.S., where possible or Switzerland. 
 6.2.4 Late Payments. Any amounts not paid within [*****] days after the date
due under this Agreement are subject to interest from the date due through and including the date upon which payment is received. Interest is calculated, over the period between the date due and the date paid, at a rate equal to [*****]. 

6.2.5 Blocked Currency. If, at any time, legal restrictions prevent the prompt remittance of part or all royalties with respect to any
country where a Licensed Product is sold, payment shall be made through such lawful means or methods as the Party paying may determine. When in any country, the law or regulations prohibit both the transmittal and deposit of royalties or other
payments, the Party paying shall continue to report all such amounts, but may suspend payment for as long as such prohibition is in effect. As soon as such prohibition ceases to be in effect, all amounts that would have been obligated to be
transmitted or deposited, but for the prohibition, shall forthwith be deposited or transmitted promptly. 
 6.3 Accounts and Audit.

 6.3.1 Records. Each Party shall keep full, true and accurate books of account containing the particulars of Net Sales, the
calculation of royalties. Each Party shall keep such books of account and the supporting data and other records. Such books and records must be maintained available for examination in accordance with this Section for [*****] calendar years after the
end of the calendar year to which they pertain, and otherwise as reasonably required to comply with IFRS. 
 6.3.2 Appointment of
Auditor. Each Party may appoint an internationally-recognized independent accounting firm reasonably acceptable to the audited Party to inspect the relevant books of account of the audited Party to verify any reports or statements provided, or
amounts paid or invoiced (as appropriate), by that audited Party. The independent accounting firm (and any individuals, if applicable) appointed to perform the examination under this Agreement must execute a confidential disclosure agreement with
the audited Party, or otherwise be subject to terms governing non-use and non-disclosure of information that the audited Party has agreed in writing are acceptable. 

6.3.3 Procedures for Audit. Each Party may exercise its right to have the other Party’s relevant records examined only during the
[*****] year period during which the audited Party is required to maintain records, no more than once in any consecutive [*****] calendar quarter period, and only once with respect to records covering any specific period of time. The audited Party
is required to make its records available for inspection only during regular business hours, only at such place or places where such records are customarily kept, and only upon receipt of at least [*****] days written advance notice from the other
Party. 
 6.3.4 Audit Report. The independent accountant will be instructed to provide an audit report containing its conclusions
regarding the audit, and specifying whether the amounts paid were correct, and, if incorrect, the amount of any underpayment or overpayment. The independent accountant further will be instructed to provide that audit report first to the audited
Party, and will be further instructed to redact any proprietary information of the audited Party not relevant to the calculation of 

  
  

			
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royalties prior to providing that audit report to the other Party. That audit report shall be deemed to be Confidential Information of the audited Party, and used only for purposes germane to
this Section. 
 6.3.5 Underpayment and Overpayment. After review of the auditor’s report: (i) if there is an uncontested
underpayment by the audited Party for the period in question, then the audited Party shall pay to the other Party the full amount of that uncontested underpayment, and (ii) if there is an uncontested overpayment by the audited Party for the
period in question, then the other Party shall provide to the audited Party a credit against future payments (such credit equal to the full amount of that overpayment), or, if the audited Party is not obligated to make any future payments, then the
other Party shall pay to the audited Party the full amount of that overpayment. Contested amounts are subject to dispute resolution under Article 13. If the total amount of any underpayment (as agreed to by the audited Party or as determined
under Article 13) exceeds [*****] of the amount previously paid by the audited Party for the period subject to audit (as long as that period is at least [*****] consecutive calendar quarters), then the audited Party shall pay the reasonable
costs for the audit. 
 6.4 Rights Regarding Consolidation of ACI Financial Data. If, at any time during the term of this Agreement,
compliance with any term or condition of this Agreement would, in Genentech’s opinion and with the concurrence of Genentech’s independent auditors, require Genentech to consolidate ACI within Genentech’s financial statements in order
to comply with Accounting Standards in effect at that time, then upon Genentech’s request, ACI shall provide to Genentech (a) ACI’s unaudited quarterly consolidated financial statements, prepared in accordance with IFRS (i.e., balance
sheet, income statement and statement of cash flows) for each calendar quarter within [*****] days after the end of the calendar quarter, and (b) subject to the obligations under Article 12 regarding Confidential Information, ACI’s
forecasted results for a given calendar quarter, based on its best available estimates, no earlier than [*****] days prior to, and no later than [*****] days prior to, the close of such calendar quarter. Those forecasted results must be based on at
least [*****] months of actual results and will encompass all of the financial statements noted above. 
 ARTICLE 7: INTELLECTUAL
PROPERTY; PATENT PROSECUTION AND MAINTENANCE 
 7.1 Disclosure of Inventions. 

7.1.1 ACI shall promptly disclose to GNE any inventions or other Know-How created, discovered, conceived or reduced to practice pursuant to the
Research Program and the activities in the Research Plan. During the Research Term and the remainder of the Term of the Agreement, ACI shall disclose to GNE all Patents within ACI IP Rights and Program IP Rights (including in each case, any such
Patents of which ACI acquires Control after the Effective Date). 
 7.1.2 Promptly after the Effective Date, ACI shall deliver to GNE copies
of all patent applications, amendments, correspondence with patent offices and information relating to Patents within the ACI IP Rights. ACI shall timely deliver to GNE within [*****] days of its receipt, copies of any patent applications,
amendments, correspondence or other materials that ACI receives following the Effective Date from the U.S. Patent and Trademark Office and all other patent offices relating to the Patents within the ACI IP Rights. 

7.2 Ownership of IP Rights. 

7.2.1 Program IP Rights. As between the Parties, (i) Program IP Rights that are invented by employees of ACI solely (or jointly
with a Third Party subcontractor of ACI) (“ACI Program IP Rights”) will be solely owned by ACI; (ii) Program IP Rights that are invented by employees of Genentech solely (or jointly with a Third Party subcontractor of
Genentech) (“Genentech Program IP 

  
  

			
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Rights”) will be solely owned by Genentech; and (iii) Program IP Rights that are invented by an employee of Genentech (or a Third Party subcontractor of Genentech) and an
employee of ACI (or a Third Party subcontractor of ACI) jointly (“Joint Program IP Rights”) will be jointly owned by Genentech and ACI. Inventorship for purposes of determining ownership under this Section is determined under
Section 7.6. 
 7.2.2 Joint Ownership. Each Party retains an undivided one-half interest in and to Joint Program IP
Rights. ACI shall exercise its ownership rights in and to Joint Program IP Rights, for any field, and including the right to license and sublicense or otherwise to exploit, transfer or encumber its ownership interest, only (i) with prior
written consent of Genentech, not to be unreasonably withheld; (ii) subject to the licenses under this Agreement; and (iii) in accordance with the restrictions set forth in Section 4.3. Notwithstanding the foregoing, solely
with respect to (a) improvements made by the Parties in the performance of activities under the Research Plan to techniques and/or methods consisting of assays, detection methods and screening methods within the ACI IP Rights existing as of the
Effective Date and (b) such other techniques and/or methods consisting of assays, detection methods and screening methods made by the Parties in the performance of activities under the Research Plan (together, the
“Improvements”), ACI may freely exploit Joint Program IP Rights that constitute Improvements for uses outside the Genentech Field without obtaining Genentech’s prior consent. This Agreement shall be understood to be a joint
research agreement in accordance with 35 U.S.C. § 103(c) to develop Tau-Active Antibodies for use in and outside the Genentech Field, provided that neither Party shall be required by this reference to have any Patent take advantage of or become
subject to such § 103(c) except in accordance with the provisions of this Article 7 regarding Prosecution and Maintenance of such Patent. 

7.3 Assignments. 
 7.3.1
Genentech. Genentech shall require all of its employees, contractors and agents, and any Affiliates and Third Parties working on its behalf under this Agreement (and their respective employees, contractors and agents), to assign to Genentech
any Program IP Rights and Genentech IP Rights, created, discovered, conceived or reduced to practice by such employees, contractors or agents or Affiliates or Third Parties. 

7.3.2 ACI. ACI shall require all of its employees, contractors and agents, and any Affiliates and Third Parties working on its behalf
under this Agreement (and their respective employees, contractors and agents), to assign to ACI any Program IP Rights and ACI IP Rights, created, discovered, conceived or reduced to practice by such employees, contractors or agents or Affiliates or
Third Parties. 
 7.3.3 Cooperation. The Parties shall cooperate with each other to effectuate ownership of any intellectual property
rights as set forth in this Agreement, including, but not limited to, by executing and recording documents. 
 7.4 Patent Prosecution and
Maintenance. 
 7.4.1 Definition. For purposes of this Section 7.4.1, “Prosecution and Maintenance” or
“Prosecute and Maintain,” with regard to a particular Patent, means the preparation, filing, prosecution and maintenance of such Patent, as well as re-examinations, reissues, applications for patent term extensions 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. 

7.4.2 Genentech Controlled Prosecution and Maintenance. As between the Parties, Genentech shall, at its sole discretion and expense,
have the right (but not the obligation) to Prosecute and 

  
  

			
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Maintain Patents within the Genentech IP Rights, but excluding [*****] and [*****]. 

7.4.3 Prosecution and Maintenance of ACI IP Rights and Program IP Rights. Subject to the provisions of this Section and
Section 7.4.5, ACI and Genentech shall select a mutually agreeable outside counsel (“Outside Patent Counsel”) to be responsible for the Prosecution and Maintenance of ACI IP Rights and Program IP Rights. 

(a) Cooperation. With respect to Patents within the ACI IP Rights and Program IP Rights, the Parties shall cooperate and assist each
in the Prosecution and Maintenance of such Patents as set forth below and in Section 7.4.4. 
 (b) As soon as one of the
Parties determines that it wishes to file a patent application covering any such invention within the ACI IP Rights or Program IP Rights, it shall promptly inform the other Party thereof. With respect thereto, the Parties shall promptly engage the
Outside Patent Counsel to draft a patent application for such invention and to make a preliminary determination of inventors, and scope of claims. The Parties shall instruct the Outside Patent Counsel to provide to each Party a copy of such patent
application for review and comments by the Parties, and such Outside Patent Counsel shall be instructed to reasonably consider the comments of both Parties. 

(c) The Outside Patent Counsel shall be instructed to (i) keep the Parties informed as to the filing, and Prosecution and Maintenance
(including those involving in which countries to initiate or continue prosecution (including validation), the question of the scope of, the issuance of, the rejection of, an interference involving, or an opposition to any such patent application or
resulting Patent) of, such Patents, such that each Party has sufficient time to review and comment upon any documents intended for submission to any patent office; (ii) furnish to each Party a copy of the patent application and copies of
documents relevant to such Prosecution and Maintenance, including copies of correspondence with any patent office, foreign associates, and outside counsel; and (iii) reasonably consider and incorporate comments of the Parties on documents filed
with any patent office. In addition, the Outside Patent Counsel shall provide the Parties with a report, no less frequently than once per calendar quarter (or as otherwise mutually agreed by the Parties), listing all Patents within ACI IP Rights and
Program IP Rights, identifying them by country and patent or application number, and briefly describing the status thereof. 
 (d) The
Outside Patent Counsel shall be instructed to advise and consult with each Party promptly after receiving any substantial action or development in the prosecution of any patent application it is responsible for prosecuting pursuant to
Section 7.4.3(a) (in particular any actions or developments concerning in which countries to initiate or continue prosecution (including validation), questions of the scope, issuance or rejection of, any interference involving, any such
patent application or any opposition to any such patent application or resulting patent). 
 7.4.4 Consultation and Cooperation.
Generally, the Parties shall cooperate with and assist each other in the Prosecution and Maintenance of Patents within the ACI IP Rights and Program IP Rights, including (i) consulting with the other Party promptly after receiving any
substantial action or development in the prosecution of any such Patent, (ii) making scientists and scientific records reasonably available in connection with such Prosecution and Maintenance, and (iii) making reasonably available its
respective authorized attorneys, agents or representatives. In addition, each Party shall sign or use its best efforts to have signed and delivered, at no charge to the other Party, all documents necessary in connection with such Prosecution and
Maintenance. 

  
  

			
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 7.4.5 Abandonment of Prosecution and Maintenance. With respect to Patents within the
ACI IP Rights and Program IP Rights, if a Party (the “Electing Party”) elects not to Prosecute and Maintain such Patents (whether worldwide or with respect to any particular country), including electing not to file a patent
application with respect thereto or to allow any such Patents to lapse or become abandoned or unenforceable, then the Electing Party shall promptly notify the other Party (the “Non- Electing
Party”) in writing (which such notice shall be at least [*****] days prior to the lapse or abandonment of any such Patent). Thereafter, the Non-Electing Party may, but is not required to, undertake, at its sole expense and in its sole
discretion, the Prosecution and Maintenance of such Patents. In the event that the Non-Electing Party undertakes such Prosecution and Maintenance, (i) the Electing Party shall assign all right, title and interest in and to such Patents to the
Non-Electing Party, (ii) Electing Party shall cooperate as set forth in Section 7.4.4, and (iii) notwithstanding anything in this Agreement to the contrary, such Patents shall no longer serve as the basis of any royalty
obligation to the Electing Party under this Agreement. 
 7.4.6 Costs. Unless otherwise mutually agreed by the Parties, both during
and after the Term of this Agreement, all costs of prosecuting and maintaining Genentech IP Rights shall be Genentech’s sole responsibility. Genentech shall bear [*****] of the costs of prosecuting and maintaining all ACI IP Rights and Program
IP Rights and ACI shall bear [*****] of such costs. 
 7.4.7 Good Faith. Without in any way limiting the foregoing, including
Section 7.4.3(a), the Parties shall use reasonable efforts and act in good faith to assist and advise the other and the Outside Patent Counsel in connection with the Prosecution and Maintenance of Patents within the ACI IP Rights and
Program IP Rights, and to mutually seek opportunities to prepare and file patent applications for such Patents, [*****]. 
 7.5 Patent
Interferences. If an interference is declared by the U.S. Patent and Trademark Office (a) between (i) a claim in one or more Patents within the ACI IP Rights or Program IP Rights and (ii) a claim in one or more Patents within the
Genentech IP Rights, where at least one of such claims would, but for the licenses in this Agreement, be infringed by the making, using, offering for sale, selling or importing of a Tau-Active Antibody or Licensed Product; then the Parties shall in
good faith establish within [*****] days of the declaration of such interference, or such other time as agreed upon, a mutually agreeable process to resolve such interference in a reasonable manner (including control and cost sharing), in
conformance with all applicable legal standards. 
 7.6 Inventorship. Any determination of inventorship with respect to any Patent
within the ACI IP Rights, Program IP Rights, or Genentech IP Rights shall be made in accordance with the applicable United States patent laws. 

7.7 Consequences of [*****]. 

7.7.1 Termination on [*****]. ACI shall have the right to terminate this Agreement, to the extent permitted by applicable law and
regulation, by written notice effective upon receipt by Genentech if Genentech or its Affiliates directly, or indirectly through material assistance knowingly granted to a Third Party, makes, files or maintains any claim, demand, lawsuit or cause of
action to [*****] of, or [*****], in each case with respect to any [*****] (each such action a “[*****]”). Prior to exercising such right, ACI shall first provide Genentech with written notice regarding the occurrence of any [*****]
(“Notice of [*****]”). Provided that (i) the [*****] is reversible, and (ii) Genentech is able to obtain a full and 

  
  

			
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 complete withdrawal of the [*****] within [*****] days following Genentech’s receipt of the Notice of
[*****], and (iii) no substantial [*****] to the [*****] has been caused by the [*****] prior to such withdrawal, then ACT may not terminate this Agreement pursuant to this Section 7.7.1. For the avoidance of doubt, [*****] does not
include, and termination by ACI under this Section 7.7.1 is not permitted for, (i) any action undertaken by Genentech or its Affiliates in any [*****] if such [*****] was provoked, requested or otherwise commenced by a Third Party
without material assistance knowingly granted by Genentech or its Affiliates; (ii) any [*****] by Genentech or its Affiliates [*****] or other action made, filed or maintained by ACI, ACI’s Affiliate(s) and/or ACT Licensee(s), including
where such [*****] of or by any Genentech activity with respect to [*****], including without limitation any [*****] by Genentech or its Affiliates that the making, using, selling, offering for sale and importation of any Tau-Active Antibody(ies)
and/or Licensed Product(s) do not [*****] ACI IP Rights. 
 ARTICLE 8: ENFORCEMENT OF IP RIGHTS; DEFENSE OF THIRD PARTY 

INFRINGEMENT CLAIMS 
 8.1
Notice. Each Party shall promptly notify, in writing, the other Party upon learning of any actual or suspected infringement of the ACI IP Rights or Program IP Rights by a Third Party, or of any claim of invalidity, unenforceability, or
non-infringement of the ACI IP Rights or Program IP Rights, and shall, along with such notice, supply the other Party with all evidence in its possession pertaining thereto. In addition, ACI shall promptly notify Genentech, in writing, upon learning
of any actual or suspected infringement of the Genentech IP Rights by a Third Party, or of any claim of invalidity, unenforceability, or non-infringement of the Genentech IP Rights, and shall, along with such notice, supply Genentech with all
evidence in its possession pertaining thereto. 
 8.2 Infringement Action. 

8.2.1 Genentech IP Rights. As between the Parties, Genentech shall have at its own cost the sole right, but not the obligation, to seek
to abate any actual or suspected infringement of the Genentech IP Rights by a Third Party, or to file suit against any such Third Party. ACI shall cooperate with Genentech (as may be reasonably requested by Genentech), including, if necessary, by
being joined as a party. 
 8.2.2 ACI IP Rights and Program IP Rights. Genentech shall have at its own cost the first right, but not
the obligation, to seek to abate any actual or suspected infringement of the ACI IP Rights, ACI Program IP Rights and ACI’s interest in the Joint Program IP Rights by a Third Party, or to file suit against any such Third Party. If Genentech
does not commence an infringement action against the alleged or threatened infringement or otherwise seek to abate the infringement (which may include without limitation entering into a sublicense agreement with the infringer) by the earlier of
(a) [*****] months after ACI provides to Genentech written notice of such infringement or (b) [*****] Business Days before the time limit, if any, set forth in appropriate laws and regulations for filing of such actions, then ACI may
commence litigation with respect to the alleged or threatened infringement at its own expense; provided, that ACI shall not initiate such litigation if enforcement of such ACI IP Rights, ACI Program IP Rights or ACI’s interest in the Joint
Program IP Rights would have a material adverse effect on the development, commercialization, or commercial value of Licensed Products pursuant to this Agreement. 

  
  

			
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 8.3 Settlement. [*****]. 

8.4 Damages. Unless otherwise mutually agreed by the Parties, and subject to the respective indemnity obligations of the Parties set
forth in Article 11, all monies recovered upon the final judgment or settlement of any action described in Section 8.2, shall be used: (i) first, to reimburse [*****], on a pro rata basis for its out-of-pocket expenses
relating to the action; (ii) second, any remaining balance that represents compensation for lost sales, a reasonable royalty or lost profits, shall be retained by or paid to [*****] subject to the payment of royalties on such amounts pursuant
to Article 5; and (iii) third, any remaining amount that represents additional damages (for example, enhanced or punitive damages) shall be retained by [*****]. 

8.5 Third Party Suits. In the event that a Third Party shall make any claim or bring any suit or other proceeding against [*****], or any of
its Affiliates, [*****] or customers, for infringement or misappropriation of any intellectual property rights with respect to the research, development, making, using selling, offering for sale, import or export of any Tau-Active Antibody or
Licensed Product, [*****] shall have the right to defend and control the defense of such claim, suit or other proceeding as well as to initiate and control any counterclaim or other similar action at its own cost and expense. [*****] shall fully
cooperate with [*****] in defense of such claim, suit or other proceeding, including by being joined as a party. Unless otherwise mutually agreed by the Parties, and subject to the respective indemnity obligations of the Parties set forth in
Article 11, the provisions of Sections 8.3 and 8.4 shall apply to any proceeding covered by this Section 8.5, except that the negotiation of any license from the Third Party shall be subject to Section 5.7. 

8.6 Genentech shall have the sole right, but not the obligation, to obtain and control, at its own expense and discretion, any data/marketing
exclusivity rights with respect to regulatory filings (including clinical, safety and efficacy data) with respect to Licensed Products including defense and enforcement of rights against Third Parties seeking marketing authorization approval from a
regulatory agency (including the FDA, EMA or equivalent) based on such filings. Such rights shall specifically include the right to take action in connection with Third Party applications for marketing authorization for biosimilar products or
generic products that reference any Licensed Product pursuant to Title VII of the United States Patient Protection and Affordable Care Act, Biologics Price Competition and Innovation Act, the Hatch-Waxman Act, EU Directive 2004/27/EC and any
successor legislation or regulations relating thereto, and all similar foreign legislation with regard to the foregoing. 
 ARTICLE 9:
TERM AND TERMINATION 
 9.1 Term. The term of this Agreement (the “Term”) shall commence on the Effective Date
and, unless sooner terminated by mutual agreement or pursuant to any other provision of this Agreement, shall terminate on the date on which all obligations under this Agreement between the Parties with respect to the payment of milestones or
royalties with respect to Licensed Products have passed or expired. 
 9.2 Termination. 

  
  

			
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 9.2.1 Material Breach. Either Party may terminate this Agreement for any material
breach by the other Party, provided that the terminating Party gives the breaching Party written notice of such breach and the breach remains uncured after the expiration of [*****] days (or [*****] days if such breach relates solely to the payment
of amounts due hereunder) after such written notice was given. 
 9.2.2 Bankruptcy. Genentech shall have the right to terminate this
Agreement upon written notice to ACI, in the event that ACI seeks protection of any bankruptcy or insolvency law, a proceeding in bankruptcy or insolvency is filed by or against ACI and is not dismissed within [*****] days, or there is an
adjudication by a court of competent jurisdiction that ACI is bankrupt or insolvent. ACI shall have the right to terminate this Agreement upon written notice to Genentech, in the event that Genentech seeks protection of any bankruptcy or insolvency
law, a proceeding in bankruptcy or insolvency is filed by or against Genentech and is not dismissed within [*****] days, or there is an adjudication by a court of competent jurisdiction that Genentech is bankrupt or insolvent. 

9.2.3 Termination for Convenience. Genentech may terminate this Agreement at any time after the [*****] anniversary of the Effective
Date with or without cause, upon three (3) months advanced written notice to ACI. 
 9.2.4 Change of Control. Genentech may terminate
this Agreement in accordance with Section 14.3. 
 9.3 Effect of Termination or Expiration. 

9.3.1 Upon termination of this Agreement by ACI pursuant to Section 9.2.1 for material breach by Genentech of its diligence
obligations under Section 3.2, its payment obligations under Sections 5.1-5.5, or for a [*****] under Section 7.7.1 or by Genentech pursuant to Section 9.2.3, (i) all rights and licenses granted to
Genentech under Article 4 shall immediately terminate; (ii) upon request by ACI within the first [*****] months following the effective date of termination and subject to the Termination Royalties described in Section 9.4
below, Genentech shall provide a Product Reversion Package to ACI to support the continued development and commercialization of Termination Products and shall grant and hereby grants (effective only upon ACI’s request received within the
[*****] months following the effective date of termination in accordance with this Section 9.3.1) to ACI the license grant set forth in clause, (vi) of the Product Reversion Package definition; (iii) upon request by ACI,
Genentech shall continue to manufacture and supply to ACI for a period of [*****] years such Termination Products that are, as of the date of such termination, in clinical development or sold commercially, such supply to be reimbursed by [*****] at
a cost equal to [*****] fully burdened manufacturing cost plus [*****]. Any sublicense granted to a Genentech Licensee [*****] shall survive termination of this Agreement under this Section 9.3.1, provided that such Genentech Licensee
(i) is not, on the effective date of such termination, in [*****]; (ii) agrees, in a subsequent writing, to perform and deliver directly to [*****]; and (iii) agrees, in a subsequent writing, that, [*****]. 

9.3.2 Upon termination by Genentech pursuant to Section 9.2.1 for material breach by ACI, Section 9.2.2 or
Section 9.2.4, Genentech may elect, in its sole discretion, to terminate this 

  
  

			
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Agreement in its entirety or to partially terminate this Agreement in accordance with the terms of Section 9.3.2 (a). 

(a) Partial Termination. Upon Genentech’s election to partially terminate this Agreement, (i) all rights and licenses
granted to ACI under Article 4 shall immediately terminate, (ii) the rights and obligations of the Parties under the following sections of this Agreement shall survive such termination: Articles 3 (except
Section 3.1.4), 4 (except Section 4.2), 5 , 6 (except Section 6.1.1), 7, 8, 9, 10, 11, 12, 13, and 14, but in all cases the surviving provisions shall be interpreted to exclude the subject matter of
non-surviving terms, and (iii) all Genentech Confidential Information, data and materials provided to ACI under this Agreement shall be returned to Genentech or destroyed, at Genentech’s option. 

(b) Partial Termination Upon Specific Breach Events. In the case that the ACI breach that gave rise to a partial termination of this
Agreement in accordance with Section 9.3.2(a) was a breach of any of the following provisions: Sections 2.3.2 (except to the extent that the breach of the provision by ACI is based on the unavailability of biological material due
to a scientific or technical obstacle, i.e., destruction of a cell line, not caused by the gross negligence or willful misconduct of ACI) and provided the breach is the consequence of gross negligence or willful misconduct of ACI, 3.1.1,
4.1, 4.3.1, 8.2, 10.1 (except Section 10.1.1(e)) or Article 12, then, (i) the surviving provision set forth in Section 9.3.2(a) shall be modified to provide that Section 3.2
will not survive such partial termination; (ii) upon the First Commercial Sale of a Licensed Product by Genentech, the payments made by Genentech under Sections 5.2 and 5.3 shall be creditable against royalty payments due to ACI under
Sections 5.4 and 5.5 subject to clause (c)(i) of this Section 9.3.2: and (iii) Genentech shall have no obligation to pay royalties on Net Sales of Licensed Product under Sections 5.4 or 5.5, subject to
clause (c)(ii) of this Section 9.3.2. 
 (c) Upon the First Commercial Sale of a Licensed Product by Genentech, ACI may
initiate an arbitration procedure under Section 13.2 for the limited determinations described in the following clauses (i) and (ii), in both cases where ACI has the burden of proof. 

(i) Milestone Offsets. If ACI establishes that the total damage amount suffered by Genentech resulting from ACI’s material breach
that was the basis of Genentech’s partial termination under Section 9.3.2(b) were less than the total of the milestone payments made to ACI under Sections 5.2 and 5.3, then Genentech shall only be entitled to credit such
total damage amount against royalty payments due to ACI under Sections 5.4 and 5.5. 
 (ii) Royalty. If ACI establishes that
the material breach that was the basis of Genentech’s partial termination under Section 9.3.2(b) did not have a material adverse effect on the value on the scope, validity or enforceability of the ACI IP Rights or the market
exclusivity granted by such rights, in each case in the Genentech Field, then notwithstanding clause (iii) of Section 9.3.2(b), Genentech’s obligation to pay royalties to ACI in accordance with Sections 5.4 or 5.5 shall
continue. 
 9.3.3 Termination or expiration of this Agreement, through any means and for any reason, shall not relieve the Parties of any
obligation accruing prior thereto, including the payment of all sums due and payable, and shall be without prejudice to the rights and remedies of either Party with respect to any antecedent breach of any of the provisions of this Agreement. 

9.4 Termination Financials. Subsequent to termination as described in Section 9.3.1 and in consideration of the data and
information provided to ACI by Genentech thereunder, the financial provisions of this Section 9.4 shall apply as follows: 

  
  

			
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[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 9.4.1 In each calendar quarter in which ACI records Net Sales of a Termination Product, ACI
shall pay to Genentech, on a Termination Product-by-Termination Product and country-by-country basis, an amount equal to the amounts set forth in Sections 9.4.2-9.4.6 as follows: 

9.4.2 [*****] of annual Net Sales of Termination Products that are [*****] 

9.4.3 [*****] of annual Net Sales of Termination Products that are [*****] 

9.4.4 [*****] of annual Net Sales of Termination Products that are [*****] 

9.4.5 [*****] of annual Net Sales of Termination Products that are [*****] 

9.4.6 [*****] of annual Net Sales of Termination Products that are [*****] and 

9.4.7 For Net Sales of Termination Products not Covered by a Valid Patent Claim within the Genentech IP Rights in the country of sale, a
royalty equal to [*****] of the applicable royalty that would otherwise be payable under Sections 9.4.1-9.4.6, provided, however, that royalty payment obligations under this Section 9.4.7
shall terminate upon the date that is [*****] years from the date of First Commercial Sale of the applicable Termination Product in a country. For the sake of clarity, royalties paid under this Section 9.4.7 shall be mutually exclusive
of royalties to be paid under Sections 9.4.1-9.4.6; in no event shall royalties be paid under this Section 9.4.7 on Net Sales of Termination Products Covered by a Valid Patent Claim of the Genentech IP Rights. 

9.5 Survival. In addition to as set forth in Section 9.3 and otherwise explicitly set forth in this Agreement, Articles
1, 11, 12 and 13 and Sections 7.2, 7.3, 9.3, 9.4, 9.5 and 10.3, and, as applicable, Article 6 shall survive expiration or termination of this Agreement for any reason. 

ARTICLE 10: REPRESENTATIONS AND WARRANTIES 

10.1 ACI Representations. ACI hereby represents and warrants to Genentech that: 

10.1.1 As of the Effective Date, ACI represents that: 

(a) ACI has the full right, power and authority, and has obtained all approvals, permits or consents necessary, to enter into this Agreement
and to perform all of its obligations and to grant the licenses provided hereunder. 
 (b) No claims of infringement, misappropriation or
other conflict with any 

  
  

			
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 intellectual property rights or other rights owned or controlled by any Third Party have been made or, to
ACI’s knowledge, threatened with respect to the ACI IP Rights existing as of the Effective Date. 
 (c) None of the ACI IP Rights
existing as of the Effective Date is subject to any outstanding injunction, judgment, order, ruling, or charge, and no claim or action is pending or, to ACI’s knowledge, threatened which challenges the legality, validity, enforceability, use,
or ownership of any such ACI IP Rights, and ACI is not aware of any facts or circumstances that indicate a likelihood of the foregoing. As of the Effective Date, no loss or expiration of any of the ACI IP Rights is threatened, pending, or reasonably
foreseeable, except for patents expiring at the end of their statutory terms (and not as a result of any act or omission by ACI, including a failure to pay any required maintenance fees). 

(d) ACI is not aware (without having made any specific inquiry) of any infringement or misappropriation of the ACI IP Rights existing as of
the Effective Date by any Third Party. 
 (e) ACI has, up through and including the Effective Date, made available to or provided Genentech
with copies of all material information and, as requested in writing by Genentech, with copies of all books, records and data, in each case with respect to the ACI IP Rights and ACI Antibodies, provided that this clause (e) is exclusive of
information that was excluded from disclosure under Paragraph 3 of the Mutual Confidentiality Agreement between the Parties dated March 18, 2010, as amended. 

10.1.2 ACI hereby represents and warrants to Genentech that as of the Effective Date and through out the Term: 

(a) ACI is the sole and exclusive owner of or Controls the ACI IP Rights existing as of the Effective Date free and clear of any liens or
encumbrances. 
 (b) ACI has not, prior to the Effective Date, entered into and shall not, following the Effective Date, enter into any
agreement and has not granted any now existing, or agreed to grant any future, license, right or privilege which would adversely affect the rights and licenses granted by ACI to Genentech pursuant to this Agreement. 

(c) The intellectual property rights licensed by ACI to Genentech pursuant to this Agreement constitute all Patents, Know-How and other
intellectual property rights that are owned or Controlled by ACI or its Affiliates and that (i) relate to Licensed Products and Tau-Active Antibodies or (ii) are conceived, reduced to practice or otherwise created by ACI during the conduct
of or in connection with activities under the Research Program. 
 (d) ACI follows reasonable commercial practices common in the industry
to protect its proprietary and confidential information, including requiring its employees, consultants and agents to be bound in writing by obligations of confidentiality and non-disclosure, and requiring its employees, consultants and agents to
assign to it any and all inventions and discoveries discovered by such employees, consultants and/or agents made within the scope of, and during their employment, and only disclosing proprietary and confidential information to Third Parties pursuant
to written confidentiality and non-disclosure agreements. 
 10.2 Genentech Representations. Genentech hereby represents and warrants
the following to ACI: 

  
  

			
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

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 10.2.1 Genentech has the full right, power and authority, and have obtained all approvals,
permits or consents necessary, to enter into this Agreement and to perform all of its obligations hereunder. 
 10.2.2 Genentech has not,
prior to the Effective Date, entered into and shall not, following the Effective Date, enter into any agreement that conflicts in any way with this Agreement or Genentech’s obligations hereunder. 

10.2.3 Genentech follows reasonable commercial practices common in the industry to protect its proprietary and confidential information,
including requiring its employees, consultants and agents to be bound in writing by obligations of confidentiality and non-disclosure, and requiring its employees, consultants and agents to assign to it any and all inventions and discoveries
discovered by such employees, consultants and/or agents made within the scope of, and during their employment, and only disclosing proprietary and confidential information to Third Parties pursuant to written confidentiality and non-disclosure
agreements. 
 10.3 DISCLAIMER. THE WARRANTIES SET FORTH IN SECTIONS 10.1 AND 10.2 ARE IN LIEU OF ALL OTHER WARRANTIES,
EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, VALIDITY, NON-INFRINGEMENT AND ALL SUCH OTHER WARRANTIES ARE HEREBY EXPRESSLY DISCLAIMED. 

ARTICLE 11: INDEMNIFICATION 

11.1 Indemnification by ACI. ACI shall defend, indemnify and hold harmless Genentech, its Affiliates and Genentech Licensees and their
respective officers, directors, employees and agents from and against any and all Third Party liabilities, claims, suits, and expenses, including reasonable attorneys’ fees (collectively, “Losses”), to the extent arising out of
or attributable to (i) the inaccuracy or breach of any representation or warranty made by ACI under this Agreement, or (ii) the negligence or willful misconduct of ACI, its Affiliates or ACI Licensees, or their respective officers,
directors or employees. 
 11.2 Indemnification by Genentech. Genentech shall defend, indemnify and hold harmless ACI, its Affiliates
and their respective officers, directors, employees and agents from and against any and all Losses, to the extent arising out of or attributable to (i) the inaccuracy or breach of any representation or warranty made by Genentech under this
Agreement, or (ii) the development, marketing, approval, manufacture, packaging, labeling, handling, storage, transportation, use, distribution, promotion, marketing or sale of Licensed Products by Genentech; in each case except to the extent
that such Losses are subject to indemnification pursuant to Section 11.1. 
 11.3 Procedure. The indemnities set forth in
this Article 11 are subject to the condition that the Party seeking the indemnity shall forthwith notify the indemnifying Party on being notified or otherwise made aware of a liability, claim, suit, action or expense and that the indemnifying
Party defend and control any proceedings with the other Party being permitted to participate at its own expense (unless there shall be a conflict of interest which would prevent representation by joint counsel, in which event the indemnifying Party
shall pay for the other Party’s counsel); provided, that, the indemnifying Party may not settle the liability, claim, suit, action or expense, or otherwise consent to any judgment, without the written consent of the other Party (such consent
not to be unreasonably withheld). 

  
  

			
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[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 11.4 Insurance. 

11.4.1 Coverage. Each Party shall maintain, at its own cost, the insurance coverages set forth in this Section 11.4;
provided, however, Genentech has the right, in its sole discretion, to self-insure in part or in whole for any such coverage. 
 11.4.2
ACI. ACI shall have and maintain such type and amounts of Third Party Liability, Commercial General Liability (including contractual liability) and Products Liability insurance as is both (i) required under the laws of Switzerland and
(ii) otherwise normal and customary in the biotechnology industry generally for parties similarly situated. 
 11.4.3 Genentech.
Genentech shall maintain on an ongoing basis coverage for Products Liability and Completed Operations including coverage for Clinical Trials, in the minimum amount of [*****] per occurrence, combined single limit for bodily injury and property
damage liability. 
 11.4.4 Additional Requirements. Except to the extent that Genentech self-insures as authorized under
Section 11.4.1, the following provisions apply: 
 (a) All insurance coverages shall be primary insurance with respect to each
Party’s own participation under this Agreement, and shall be maintained with an insurance company or companies having an A.M. Best’s rating (or its equivalent) of A-XII or better. 

(b) Such Party shall maintain the insurance coverage for at least [*****] years following such Party’s completing the performance of its
obligations under this Agreement. 
 (c) Upon request by the other Party, each Party shall provide to the other Party its respective
certificates of insurance evidencing the insurance coverages set forth in Section 11.4.1. Each Party shall provide to the other Party at least [*****] days prior written notice of any cancellation, nonrenewal or material change in any of
the insurance coverages. Each Party shall, upon receipt of written request from the other Party, provide renewal certificates to the other Party for as long as such Party is required to maintain insurance coverages hereunder. 

11.5 LIMITATION ON DAMAGES. NOTWITHSTANDING ANYTHING CONTAINED IN THIS AGREEMENT TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY BE
LIABLE TO THE OTHER HEREUNDER FOR ANY SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES (INCLUDING LOSS OF PROFITS) WHETHER BASED UPON BREACH OF WARRANTY, BREACH OF CONTRACT, NEGLIGENCE, STRICT TORT OR ANY OTHER LEGAL THEORY. THE FOREGOING LIMITATIONS
WILL NOT APPLY TO AN AWARD OF ENHANCED DAMAGES AVAILABLE UNDER THE PATENT LAWS FOR WILLFUL PATENT INFRINGEMENT AND WILL NOT LIMIT EITHER PARTY’S LIABILITY TO THE OTHER PARTY UNDER ARTICLES 11 (INDEMNIFICATION) AND 12 (CONFIDENTIALITY) OF THIS
AGREEMENT. 
 ARTICLE 12: CONFIDENTIALITY 

12.1 Confidential Information. During the Term of this Agreement and for [*****] years thereafter without regard to the means of
termination: (i) ACI shall not use, for any purpose other than the purpose of this Agreement, or reveal or disclose to any Third Party Genentech Confidential Information or Program Confidential Information; and (ii) Genentech shall not
use, for any purpose other than the purpose of this Agreement, or reveal or disclose to any Third Party ACI Confidential Information or 

  
  

			
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 Program Confidential Information. The Parties shall take reasonable measures to assure that no unauthorized
use or disclosure is made by others to whom access to such information is granted. 
 12.2 Exceptions. Notwithstanding the foregoing,
a Party may use and disclose Confidential Information (including any Genentech Confidential Information, ACI Confidential Information or Program Confidential Information) as follows: 

 

	 	(a)	if required by applicable law, rule, regulation, government requirement and/or court order; provided, that, the disclosing Party promptly notifies the other Party of its notice of any such requirement and provides the
other Party a reasonable opportunity to seek a protective order or other appropriate remedy and/or to waive compliance with the provisions of this Agreement; 

  

	 	(b)	to the extent such use and disclosure occurs in the filing or publication of any patent application or patent on inventions; 

  

	 	(c)	as necessary or desirable for securing any regulatory approvals, including pricing approvals, for any Licensed Products; provided, that, the disclosing Party shall take all reasonable steps to limit disclosure of the
Confidential Information outside such regulatory agency and to otherwise maintain the confidentiality of the Confidential Information; 

  

	 	(d)	to take any lawful action that it deems necessary to protect its interest under, or to enforce compliance with the terms and conditions of, this Agreement; and 

 

	 	(e)	to the extent necessary, to its Affiliates, directors, officers, employees, consultants, Genentech Licensees or ACI Licensees (as applicable), vendors and clinicians under written agreements of confidentiality at least
as restrictive as those set forth in this Agreement, who have a need to know such information in connection with such Party performing its obligations or exercising its rights under this Agreement. 

12.3 Certain Obligations. During the term of this Agreement and for a period of [*****] years thereafter and subject to the exceptions
set forth in Section 12.2, Genentech, with respect to ACI Confidential Information, and ACI, with respect to Genentech Confidential Information and Program Confidential Information, agree: 

 

	 	(a)	to use such Confidential Information only for the purposes contemplated under this Agreement, 

  

	 	(b)	to treat such Confidential Information as it would its own proprietary information which in no event shall be less than a reasonable standard of care, 

 

	 	(c)	to take reasonable precautions to prevent the disclosure of such Confidential Information to a Third Party without written consent of the other Party, and 

 

	 	(d)	to only disclose such Confidential Information to those employees, agents and Third Party contractors who have a need to know such Confidential Information for the purposes set forth herein and who are subject to
obligations of confidentiality no less restrictive than those set forth herein. 

  
  

			
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
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 12.4 Disclosures and Public Announcements. Neither Party shall issue any press release
or other publicity materials, or make any public presentation with respect to the existence of, or any of the terms or conditions of, this Agreement or the programs or efforts being conducted by the other Party hereunder, in each case without the
prior written consent of the other Party. This restriction shall not apply to: 
  

	 	(a)	disclosures to a Party’s attorneys, advisors or investors on a need to know basis under circumstances that reasonably ensure the confidentiality thereof, and 

 

	 	(b)	any future disclosures required by law or regulation, including as may be required in connection with any filings made with, or by the disclosure policies of a major stock exchange; provided that the disclosing Party
(i) use all reasonable efforts to inform the other Party prior to making any such disclosures and cooperate with the other Party in seeking a protective order or other appropriate remedy (including redaction) and (ii) whenever possible,
request confidential treatment of such information. 

 12.5 Scientific Publications. 

12.5.1 If ACI, including its employees, agents, collaborators or consultants, wishes to make a scientific or technical publication,
presentation and/or other related oral disclosure related to ACI IP Rights and Program IP Rights, ACI shall deliver to Genentech a copy of the proposed written publication or an outline of the proposed presentation or oral disclosure at least
[*****] days prior to submission for publication, presentation and/or other oral disclosure. Genentech may then (a) request (within [******] days of the delivery of the publication or outline) modifications to the publication or outline for
patent reasons or business reasons, and ACI shall make such modifications, (b) delete (within [*****] days of the delivery of the publication or outline) any trade secrets or Confidential Information of Genentech included in that publication or
outline, and/or (c) request (within [*****] days of the delivery of the publication or outline) a reasonable delay of no more than [*****] days from the date such delay is requested by Genentech in publication, presentation and/or other oral
disclosure to protect know-how and patentable subject matter. In the event that the ACI does not receive any response from Genentech with respect to the ACI’s proposed written publication or outline of the proposed presentation or oral
disclosure within [*****] days of the delivery of the publication or outline, subject to the terms of this Agreement, ACI shall be free to publish, present or otherwise orally disclose the information contained in such publication or outline. 

12.5.2 If Genentech, including its employees, agents or consultants, wishes to make a scientific or technical publication, presentation and/or
other related oral disclosure related to ACI IP Rights, Genentech shall deliver to ACI a copy of the proposed written publication or an outline of the proposed presentation or oral disclosure at least [*****] days prior to submission for
publication, presentation and/or other oral disclosure. ACI may then (a) request (within [*****] days of the delivery of the publication or outline) modifications to the publication or outline for patent reasons, and Genentech shall make such
modifications, (b) delete (within [*****] days of the delivery of the publication or outline) any trade secrets or Confidential Information of ACI included in that publication or outline, and/or (c) request (within [*****] days of the
delivery of the publication or outline) a reasonable delay of no more than [*****] days from the date such delay is requested by ACI in publication, presentation and/or other oral disclosure to protect know-how and patentable subject matter. In the
event that Genentech does not receive any response from ACI with respect to Genentech’s proposed written publication or outline of the proposed presentation or oral disclosure within [*****] days of the delivery of the publication or outline,
subject to the terms of this Agreement, Genentech shall be free to publish, present or otherwise orally disclose the information contained in such publication or 

  
  

			
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

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outline. 
 12.6 Termination Event. Upon termination, but not expiration, of
this Agreement and upon the request of the disclosing Party, the receiving Party shall promptly return to the disclosing Party or destroy all copies of Confidential Information received from such Party, and shall return or destroy, and document the
destruction of, all summaries, abstracts, extracts, or other documents which contain any Confidential Information of the other Party in any form, except that each Party shall be permitted to retain a copy (or copies, as necessary) of such
Confidential Information (a) for archival purposes, (b) as required by any law or regulation, (c) in the case of ACI, for purposes of exploiting its rights in any Product Reversion Package provided by Genentech pursuant to
Section 9.3.1 or (d) in the case of Genentech, for purposes of exploiting its surviving rights pursuant to Section 9.3.2. 

ARTICLE 13: ARBITRATION 

13.1 Disputes. This Agreement is made on the basis of mutual confidence, and it is understood that the differences, if any, during the
life of this Agreement should freely be discussed between the two Parties. The Parties shall initially attempt in good faith to resolve any significant controversy, claim, or dispute arising out of or relating to this Agreement, or its
interpretation, performance, nonperformance or any breach of any respective obligations hereunder (hereinafter collectively referred to as a “Dispute”) through negotiations between senior executives of ACI and Genentech (or their
respective designee). If the Dispute is not resolved within [*****] days (or such other period of time mutually agreed upon by the Parties) of commencing such face-to-face negotiations, or if the Party against which a claim has been asserted refuses
to attend such negotiations or does not otherwise participate in such negotiations within [*****] days (or such other period of time mutually agreed upon by the Parties) from the date of notice of a Dispute, either Party may, by written notice to
the other, invoke the provisions of Section 13.2. 
 13.2 Arbitration. Subject to Sections 13.1 and 13.3, the
Parties agree to resolve any Dispute exclusively through binding arbitration conducted under the auspices of the International Chamber of Commerce (the “ICC”) pursuant to the Rules of Arbitration of the International Chamber of
Commerce then in effect (the “ICC Rules”). The arbitration shall be conducted in the English language before [*****] arbitrators appointed in accordance with the ICC Rules; provided that at least one such arbitrator shall have had,
by the time of the actual arbitration, at least [*****] years of experience as an attorney and experience in the pharmaceuticals industry so as to better understand the legal, business and scientific issues addressed in the arbitration. Unless
otherwise mutually agreed by the Parties, any arbitration hereunder it shall be brought at the location of the Party which first received the notice required under Section 13.1. Unless agreed otherwise by the Parties, the Parties shall
have [*****] days from the appointment of the last to be appointed of the [*****] arbitrators to present and/or submit their positions to the arbitrators, and the Parties shall have a hearing before the arbitrators within [*****] Business Days of
such submission. The arbitrators shall hear evidence by each Party and resolve each of the issues identified by the Parties. The arbitrators shall be instructed and required to render a written, binding,
non-appealable resolution and award on each issue which clearly states the basis upon which such resolution and award is made. The written resolution and award shall be delivered to the Parties as
expeditiously as possible, but in no event more than [*****] days after conclusion of the hearing, unless otherwise agreed to by the Parties. The Parties shall use all reasonable efforts to keep arbitration costs to a minimum. Each Party must bear
its own attorneys’ fees and associated costs and expenses, as well as an equal share of the fees and costs incurred by ICC and the arbitrators. The Parties shall use all reasonable efforts to make witnesses available for the proceedings. 

13.3 Subject Matter Exclusions. Notwithstanding the foregoing, the provisions of Sections 13.1 and 13.2 shall not apply to any
Dispute relating to: [*****] 

  
  

			
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 [*****]. Notwithstanding anything to the contrary in the foregoing provision of this
Section 13.3, any Dispute relating to Genentech and/or its Affiliate(s)’s assertion of non-infringement of or by any of its activities with respect to ACI IP Rights, including without limitation any assertion by Genentech or its
Affiliates that the making, using, selling, offering for sale and importation of any Tau-Active Antibody(ies) and/or Licensed Product(s) do not infringe ACI IP Rights (“Patent Infringement
Dispute”) shall be subject to the provisions of Sections 13.1 and 13.2, provided that at least [*****] of the [*****] arbitrators provided in Section 13.2 shall have had, by the time of the actual arbitration, at least
[*****] years of experience as a practicing patent attorney registered to practice before the United States Patent and Trademark Office so as to better understand the patent-related issues addressed in the Patent Infringement Dispute. 

13.4 Equitable Relief. Nothing in this Agreement shall be deemed as preventing the Parties from seeking injunctive relief (or other
provisional remedy) from any court having jurisdiction over the Parties and the subject matter of the dispute as necessary to protect either Party’s interests. 

ARTICLE 14: MISCELLANEOUS 

14.1 Assignment and Delegation. Neither this Agreement nor any right or obligation hereunder shall be assignable in whole or in part,
whether by operation of law, or otherwise by ACI without the prior written consent of Genentech. Notwithstanding the foregoing, ACI may assign or transfer its rights and obligations under this Agreement to a Person that succeeds to all or
substantially all of ACI’s business or assets related to this Agreement whether by sale, merger, operation of law or otherwise. If during the term of the Research Program, ACI makes a permitted assignment to a successor in accordance with the
foregoing sentence, Genentech may terminate the Research Program upon notice without terminating this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the Parties hereto and their respective
successors and permitted assignees. Any transfer or assignment of this Agreement in violation of this Section 14.1 shall be null and void. 

14.2 Relationship of GNE and Roche. GNE and Roche are jointly referred to in this Agreement as Genentech. Except where either GNE or
Roche are expressly referred to herein, (a) each of GNE and Roche shall be entitled to exercise any rights or perform any obligation attributed in this Agreement to Genentech, and each of GNE and Roche shall be jointly liable for any obligation
attributed in this Agreement to Genentech. Any communication or act by GNE shall be deemed to have been consented by Roche and any act or communication by Roche shall be deemed to have consented by GNE. Except where either GNE or Roche are expressly
referred to herein, ACI shall be entitled to meet its obligation to Genentech by delivering a notice or perform its obligations to either GNE or Roche. 

14.3 Change of Control. No later than [*****] days following the public announcement of a proposed Change of Control event, ACI shall
provide Genentech with written notice of any such Change of Control. Within [*****] days of receipt of such written notice, Genentech shall have the right to terminate this Agreement in accordance with Section 9.3.2. For the purposes of
this Section 14.3, “Change in Control” of ACI means that during the Term of this Agreement (i) ACI shall have become an Affiliate of a Person that is a Competitor; and/or (ii) any sale, lease, exchange or other
transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of ACI shall have occurred to a Competitor; and/or (iii) the stockholders of ACI shall have approved of a plan or proposal for the
liquidation or dissolution of the company; and/or (iv) any Competitor (whether individually or as part of a group) shall have become the owner, directly or indirectly, beneficially or of record, of shares representing more than [*****] of the
aggregate ordinary voting power represented by the issued and outstanding voting stock of ACI. For the purposes of this Section 14.3, “Competitor” means any Person that conducts any research and/or development,
activities, or that manufactures, promotes, 

  
  

			
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 markets, distributes and/or sells any products for [*****], in the biotechnology or pharmaceutical industry.

 14.4 Entire Agreement. This Agreement contains the entire agreement between the Parties relating to the subject matter hereof, and
all prior understandings, representations and warranties between the Parties are superseded by this Agreement, including the Confidential Disclosure Agreement between the Parties dated March 18, 2010, as amended. 

14.5 Amendments. Changes and additional provisions to this Agreement shall be binding on the Parties only if mutually agreed upon, laid
down in writing and signed effectively by the Parties. 
 14.6 Applicable Law. This Agreement shall be construed and interpreted in
accordance with the laws of New York and all rights and remedies shall be governed by such laws without regard to principles of conflicts of law. 

14.7 Force Majeure. If the performance of this Agreement or any obligations hereunder is prevented, restricted or interfered with by
reason of earthquake, fire, flood or other casualty or due to strikes, riot, storms, explosions, acts of God, war, or a similar occurrence or condition beyond the reasonable control of the Parties, the Party so affected shall, upon giving prompt
notice to the other Parties, be excused from such performance during such prevention, restriction or interference, and any failure or delay resulting therefrom shall not be considered a breach of this Agreement. 

14.8 Severability. The Parties do not intend to violate any public policy or statutory common law. However, if any sentence, paragraph,
clause or combination of this Agreement is in violation of any law or is found to be otherwise unenforceable, such sentence, paragraph, clause or combination of the same shall be deleted and the remainder of this Agreement shall remain binding;
provided that such deletion does not alter the basic purpose and structure of this Agreement. 
 14.9 Notices. All notices, requests,
demands, and other communications relating to this Agreement shall be in writing in the English language and shall be delivered in person or by registered mail, international courier or facsimile transmission (with a confirmation copy forwarded by
courier or registered mail). Notices sent by mail shall be sent by first class mail or the equivalent, registered or certified, postage prepaid, and shall be deemed to have been given on the date actually received. Notices sent by international
courier shall be sent using a service which provides traceability of packages. Notices shall be sent as follows: 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	37

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
	 CONFIDENTIAL
	  	   FINAL EXECUTION VERSION

  

			
	Notices to Genentech:	  	with a required copy to:
		
	 Genentech Inc.
 1 DNA Way

South San Francisco, CA 94080, USA
 Attention: Corporate
Secretary
 Telephone: [*****]
 Facsimile: [*****]
	  	 Genentech Inc.
 1 DNA Way

South San Francisco, CA 94080, USA
 Attention: Vice President,
Genentech Partnering
 Telephone: [*****]
 Facsimile:
[*****]

		
		  	and
		
		  	 F. Hoffmann-La Roche Ltd
 Grenzacherstrasse
124
 4070 Basel
 Switzerland

Attn: Corporate Legal Department
 Telephone: [*****]

Facsimile: [*****]

		
	Notices to ACI:	  	with a required copy to:
		
	 AC Immune
 Pare scientifique EPFL, PSE-B,

CH-1015 Lausanne, Switzerland
 Attention: CEO

Telephone: [*****]
 Facsimile: [*****]
	  	 VISCHER Ltd. Attorneys at law

Aeschenvorstadt 4
 CH-4051 Basel, Switzerland

Attention: Dr. Matthias Staehelin
 Telephone: [*****]

Facsimile: [*****]

 Either Party may change its address for notices or facsimile number at any time by sending written notice by
courier or registered mail to the other Party. 
 14.10 Independent Contractor. Nothing herein shall create any association,
partnership, joint venture, fiduciary duty or the relation of principal and agent between the Parties hereto, it being understood that each Party is acting as an independent contractor, and neither Party shall have the authority to bind the other or
the other’s representatives in any way. 
 14.11 Waiver. No delay on the part of either Party hereto in exercising any power or
right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any power or right hereunder preclude other or further exercise thereof or the exercise of any other power or right. No waiver of this Agreement or any
provision hereof shall be enforceable against any Party hereto unless in writing, signed by the Party against whom such waiver is claimed, and shall be limited solely to the one event. 

14.12 Interpretation. This Agreement has been prepared jointly and no rule of strict construction shall be applied against either
Party. In this Agreement, the singular shall include the plural and vice versa and the word “including” shall be deemed to be followed by the phrase “without limitation.” The section headings contained in this Agreement are
inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement. 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	38

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

			
	 CONFIDENTIAL
	  	   FINAL EXECUTION VERSION

  

 14.13 Counterparts. This Agreement may be executed in counterparts, each of which
together shall constitute one and the same Agreement. For purposes of executing this agreement, a facsimile copy of this Agreement, including the signature pages, will be deemed an original. 

14.14 License Survival During Bankruptcy. All rights and licenses granted under or pursuant to this Agreement are, and shall otherwise
be deemed to be, for purposes of Paragraph 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Paragraph 101(35A) of the U.S. Bankruptcy Code. The Parties agree that Genentech, as a licensee
of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against ACI,
including under the U.S. Bankruptcy Code, Genentech shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and the same, if not already
in Genentech’s possession, shall be promptly delivered to Genentech upon any such commencement of a bankruptcy proceeding upon written request therefor by Genentech. 

*        *        *       
 *        * 

  
  

			
	Research Collaboration and License Agreement (Tau)	  	39

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 IN WITNESS WHEREOF, the Parties have executed this Agreement by their duly authorized
representative. 
  

									
	AC Immune SA	 		 	Genentech, Inc.
					
	By:	 	 /s/ Andrea Pfeifer
	 		 	By:	 	 /s/ Steve Krognes

	Name:	 	Andrea Pfeifer	 		 	Name:	 	Steve Krognes
	Title:	 	CEO	 		 	Title:	 	CFO
				
		 		 		 	F. Hoffmann-La Roche Ltd
					
		 	 /s/ A. Muhs
	 		 	By:	 	 /s/ Sophie Kornowski-Bonne

		 	A. Muhs	 		 	Name:	 	Sophie Kornowski-Bonne
		 	CSO	 		 	Title:	 	Global Head Roche Partnering
					
		 		 		 	By:	 	 /s/ Stefan Arnold

		 		 		 	Name:	 	Stefan Arnold
		 		 		 	Title:	 	Head Legal Pharma

  
  

			
	Research Collaboration and License Agreement (Tau)	  	

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 Exhibit A 

ACI Patents 
  

											
	 Applicant
	 	 Application No
	 	 Patent
	 	 Application date
	 	 lapsed
	 	 Title

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

Tau [*****]

  
  

			
	Research Collaboration and License Agreement (Tau)	  	

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 Exhibit B 

Research Plan 
 [*****]

 AC Immune Activities 
 [*****] Tau 

[*****] pTau [*****] 
 [*****] 

[*****] Tau [*****] Tau [*****] 
  

  
  

			
	Research Collaboration and License Agreement (Tau)	  	

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 [*****] pTau [*****] 

[*****] 
 [*****] ptau [*****]

 [*****] tau [*****] 
 [*****]
tau [*****] 
 [*****] pTau) 
  

  
  

			
	Research Collaboration and License Agreement (Tau)	  	

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 Exhibit C 

Antigens for Discovery Antibodies 
  

					
	 Description
	  	 Vaccine
	 	
Antigens*: Sequence*’*, length (n), sequence ID number

	[*****] Tau	  	[*****]	 	[*****]

	 [*****] Tau
 [*****] Tau
	  	[*****]	 	[*****]

	[*****] Tau	  	[*****]
	 	[*****]

	[*****] Tau	  	[*****]	 	[*****]

  

	
	 [*****] Tau (Tau441). [*****]

  
  

			
	Research Collaboration and License Agreement (Tau)EX-10.4

 Exhibit 10.4 

CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL 
 LICENSE
AND COLLABORATION AGREEMENT 
 between 

Piramal Imaging Ltd., 
 Piramal
Imaging SA 
 and 
 AC Immune SA

 Effective May 9, 2014 

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406 

UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT 

REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

 TABLE OF CONTENTS 
  

									
	 ARTICLE 1
	 	 DEFINITIONS
	  	 	2	  
			
	 ARTICLE 2
	 	 SCOPE OF COLLABORATION AND MANAGEMENT
	  	 	11	  
			
	 2.1
	 	 Scope of Collaboration
	  	 	11	  
			
	 2.2
	 	 Joint Steering Committee
	  	 	11	  
				
		 	 (a)
	  	 Purpose; Formation
	  	 	11	  
				
		 	 (b)
	  	 Composition
	  	 	11	  
				
		 	 (c)
	  	 Responsibilities
	  	 	12	  
				
		 	 (d)
	  	 Meetings
	  	 	12	  
				
		 	 (e)
	  	 Decision Making
	  	 	13	  
			
	 2.3
	 	 Resolution of Committee Disputes
	  	 	13	  
				
		 	 (a)
	  	 Within the JSC
	  	 	13	  
				
		 	 (b)
	  	 Referral to Executive Officers
	  	 	13	  
			
	 ARTICLE 3
	 	 LICENSES
	  	 	13	  
			
	 3.1
	 	 License Grant to Piramal Imaging SA
	  	 	13	  
				
		 	 (a)
	  	 Exclusive License Under AC Immune Tau Protein Imaging IP and Collaboration IP
	  	 	13	  
				
		 	 (b)
	  	 Non-Exclusive License Under AC Immune Background IP
	  	 	14	  
			
	 3.2
	 	 Grant to AC Immune
	  	 	14	  
			
	 3.3
	 	 Sublicenses
	  	 	14	  
			
	 3.4
	 	 No Implied Rights
	  	 	14	  
			
	 3.5
	 	 Other Development
	  	 	14	  
			
	 3.6
	 	 Reservation of Rights
	  	 	14	  
			
	 ARTICLE 4
	 	 RESEARCH AND DEVELOPMENT
	  	 	15	  
			
	 4.1
	 	 Overview
	  	 	15	  
			
	 4.2
	 	 Research Plan
	  	 	15	  
			
	 4.3
	 	 Development Plan
	  	 	15	  
			
	 4.4
	 	 Other Discovery
	  	 	15	  
			
	 4.5
	 	 [*****]
	  	 	15	  
			
	 4.6
	 	 Information and Records
	  	 	16	  
			
	 ARTICLE 5
	 	 REGULATORY
	  	 	16	  

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

									
	 5.1
	 	 Product
	  	 	17	  
			
	 5.2
	 	 Rights of Reference to Regulatory Materials
	  	 	17	  
			
	ARTICLE 6	 	 MANUFACTURING; SUPPLY
	  	 	17	  
			
	 6.1
	 	 Manufacture
	  	 	17	  
			
	 6.2
	 	 [*****]
	  	 	17	  
			
	 6.3
	 	 Supply of [*****] Doses
	  	 	17	  
			
	ARTICLE 7	 	 COMMERCIALIZATION
	  	 	18	  
			
	 7.1
	 	 Product
	  	 	18	  
			
	 7.2
	 	 Pricing
	  	 	18	  
			
	ARTICLE 8	 	 CONSIDERATION AND PAYMENTS
	  	 	18	  
			
	 8.1
	 	 Upfront Payment
	  	 	18	  
			
	 8.2
	 	 Development Milestone Payments
	  	 	18	  
			
	 8.3
	 	 Sales Milestones
	  	 	19	  
			
	 8.4
	 	 Sublicensing Revenue
	  	 	19	  
				
	 8.5
	 	Royalties	 		  	 	20	  
				
		 	(a)	 	 Royalty Step-Down
	  	 	20	  
				
		 	(b)	 	 Royalty Term
	  	 	21	  
			
	 8.6
	 	 Reduction for Third Party Licenses
	  	 	21	  
			
	 8.7
	 	 Reports and Payments
	  	 	21	  
				
		 	(a)	 	Milestones	  	 	21	  
				
		 	(b)	 	Sublicense Revenue	  	 	21	  
				
		 	(c)	 	Royalties	  	 	21	  
			
	 8.8
	 	 Payment Method
	  	 	22	  
			
	 8.9
	 	 Blocked Currency
	  	 	22	  
			
	 8.10
	 	 Currency
	  	 	22	  
			
	 8.11
	 	 Taxes and Withholding
	  	 	22	  
			
	 8.12
	 	 Maintenance of Records
	  	 	22	  
			
	 8.13
	 	 Audits
	  	 	22	  
			
	ARTICLE 9	 	 INTELLECTUAL PROPERTY
	  	 	23	  
			
	 9.1
	 	 Ownership
	  	 	23	  
				
		 	(a)	 	 Background IP
	  	 	23	  

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

									
		 	 (b)
	  	 Inventions
	  	 	23	  
			
	 9.2
	 	 Disclosure
	  	 	24	  
			
	 9.3
	 	 Prosecution and Maintenance of AC Immune Tau Protein Imaging IP and Jointly Owned Collaboration IP
	  	 	24	  
			
	 9.4
	 	 Abandonment of Prosecution and Maintenance
	  	 	25	  
			
	 9.5
	 	 Prosecution and Maintenance of Solely Owned Collaboration Patents
	  	 	25	  
			
	 9.6
	 	 Defense of Third Party Infringement Claims
	  	 	25	  
			
	 9.7
	 	 Enforcement; Patent Challenge
	  	 	25	  
			
	 9.8
	 	 Recoveries
	  	 	26	  
			
	 ARTICLE 10
	 	 CONFIDENTIALITY
	  	 	26	  
			
	 10.1
	 	 Confidentiality; Exceptions
	  	 	26	  
			
	 10.2
	 	 Authorized Use and Disclosure
	  	 	27	  
			
	 10.3
	 	 Injunctive Relief
	  	 	27	  
			
	 10.4
	 	 Terms of Agreement
	  	 	28	  
			
	 10.5
	 	 Publications
	  	 	28	  
			
	 10.6
	 	 Publicity
	  	 	28	  
				
		 	 (a)
	  	 Press Releases
	  	 	29	  
				
		 	 (b)
	  	 Required Disclosures
	  	 	29	  
			
	 ARTICLE 11
	 	 TERM AND TERMINATION
	  	 	29	  
			
	 11.1
	 	 Term
	  	 	29	  
			
	 11.2
	 	 Termination
	  	 	29	  
				
		 	 (a)
	  	 Breach
	  	 	29	  
				
		 	 (b)
	  	 Insolvency
	  	 	30	  
				
		 	 (c)
	  	 Termination by Piramal Without Cause
	  	 	30	  
			
	 11.3
	 	 Consequences of Termination
	  	 	30	  
				
		 	 (a)
	  	 Effect of Termination by Piramal Without Cause
	  	 	30	  
				
		 	 (b)
	  	 Effect of Termination by AC Immune for Breach by Piramal
	  	 	31	  
				
		 	 (c)
	  	 Effect of Termination by Piramal for Breach by AC Immune
	  	 	31	  
				
		 	 (d)
	  	 Accrued Obligations
	  	 	31	  
				
		 	 (e)
	  	 Ancillary Agreements
	  	 	31	  
				
		 	 (f)
	  	 Non-Exclusive Remedy
	  	 	31	  
				
		 	 (g)
	  	 Survival
	  	 	31	  

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

									
	 ARTICLE 12
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	31	  
			
	 12.1
	 	 Representations, Warranties and Covenants By Both Parties
	  	 	31	  
			
	 12.2
	 	 AC Immune Representations, Warranties and Covenants
	  	 	32	  
			
	 12.3
	 	 Disclaimer
	  	 	33	  
			
	 ARTICLE 13
	 	 INDEMNIFICATION, INSURANCE AND LIABILITY
	  	 	33	  
			
	 13.1
	 	 Indemnification by AC Immune
	  	 	33	  
			
	 13.2
	 	 Indemnification by Piramal
	  	 	33	  
			
	 13.3
	 	 Limitations on Indemnification
	  	 	34	  
			
	 13.4
	 	 Limitation on Liability
	  	 	34	  
			
	 13.5
	 	 Insurance
	  	 	34	  
			
	 ARTICLE 14
	 	 DISPUTE RESOLUTION
	  	 	34	  
			
	 14.1
	 	 General
	  	 	34	  
			
	 14.2
	 	 Failure of Executive Officers to Resolve Dispute
	  	 	34	  
			
	 14.3
	 	 Binding Arbitration
	  	 	35	  
			
	 14.4
	 	 Arbitrators
	  	 	35	  
			
	 14.5
	 	 Judgment
	  	 	35	  
			
	 14.6
	 	 Injunctive Relief
	  	 	35	  
			
	 14.7
	 	 Award
	  	 	35	  
			
	 14.8
	 	 Costs
	  	 	35	  
			
	 14.9
	 	 Confidentiality
	  	 	35	  
			
	 14.10
	 	 Patent Disputes
	  	 	36	  
			
	 ARTICLE 15
	 	 MISCELLANEOUS
	  	 	36	  
			
	 15.1
	 	 Governing Law
	  	 	36	  
			
	 15.2
	 	 Compliance with Laws
	  	 	36	  
			
	 15.3
	 	 Assignment of Rights and Obligations
	  	 	36	  
				
		 	 (a)
	  	 General Rule
	  	 	36	  
				
		 	 (b)
	  	 Assignment in Case of a Change of Control and to Affiliates
	  	 	36	  
			
	 15.4
	 	 Further Actions
	  	 	36	  
			
	 15.5
	 	 Force Majeure
	  	 	36	  
			
	 15.6
	 	 Representation by Legal Counsel
	  	 	37	  
			
	 15.7
	 	 Notices
	  	 	37	  

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 
  

									
	 15.8
	 	 Entire Agreement
	  	 	38	  
			
	 15.9
	 	 Amendment
	  	 	38	  
			
	 15.10
	 	 Waiver
	  	 	38	  
			
	 15.11
	 	 Severability
	  	 	38	  
			
	 15.12
	 	 Relationship of the Parties
	  	 	39	  
			
	 15.13
	 	 Interpretation
	  	 	39	  
			
	 15.14
	 	 Third Party Beneficiaries
	  	 	39	  
			
	 15.15
	 	 Counterparts
	  	 	39	  

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

 LICENSE AND COLLABORATION AGREEMENT 

THIS LICENSE AND COLLABORATION AGREEMENT (hereinafter “Agreement”) is effective as of May 7, 2014 (the “Effective
Date”) by and between Piramal Imaging Ltd., incorporated under the Laws of England and Wales, having its principal place of business at 23, Science Park, Cambridge-CB4 0EY, United Kingdom (hereinafter “Piramal Imaging
Ltd”), and its parent company, Piramal Imaging SA, incorporated under the laws of Switzerland, having its principal place of business at Route de l’Ecole, c/o Pascal Nguyen, 1753 Matran, Switzerland (hereinafter “Piramal
Imaging SA”) (Piramal Imaging Ltd and Piramal Imaging SA hereinafter together referred to as “Piramal”), and AC Immune SA, incorporated under the laws of Switzerland, having its principal place of business at EPFL
Innovation Park, Building B, 1015 Lausanne, Switzerland (hereinafter “AC Immune”) (each AC Immune and Piramal hereinafter referred to individually as a “Party” and jointly as the “Parties”). 

WHEREAS, AC Immune is a leader in the discovery and development of novel therapeutics for the treatment and diagnosis of Alzheimer’s
disease (“AD”) and has discovered using its MorphomerTM chemistry platform and is developing certain potential therapeutic and diagnostic compounds targeting proteins implicated in the pathology of AD, including Tau protein.

 WHEREAS, AC Immune has identified a series of compounds that bind selectively to Tau protein; and one or more of such compounds may, if
modified to include a radioactive isotope, be useful as a positron emission tomography (“PET”) imaging agent that would bind selectively to Tau protein and aid the detection and monitoring of AD and other neurodegenerative diseases.

 WHEREAS, Piramal Imaging SA is an innovator in the discovery, development and commercialization of novel imaging agents for molecular
imaging, including PET neuroimaging agents that bind selectively to a protein. 
 WHEREAS, Piramal Imaging SA is interested in collaborating
with AC Immune to evaluate and develop certain of AC Immune’s Tau protein selective compounds as a PET imaging agent that binds selectively to Tau protein for detection and monitoring of Tau protein in patients with AD and other
neurodegenerative diseases. 
 WHEREAS, if such development efforts are successful, Piramal Imaging Ltd, under license from Piramal Imaging
SA, wishes to manufacture and commercialize a Tau protein selective PET imaging agent as a diagnostic commercial product, including for use in [*****] pharmaceutical or biotechnology companies’ clinical trials for potential therapeutic products
directed to AD and other diseases where Tau protein has been implicated. 
 NOW THEREFORE, in consideration of the mutual
covenants and agreements provided herein below and other consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS

 As used in this Agreement, the following terms, when capitalized, whether used in the singular or plural, shall have the following meanings: 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	1.1	“AC Immune Background IP” means all Patents and Know-How that is (a) Controlled by AC Immune as of the Effective Date, and (b) becomes Controlled by AC Immune on or after the Effective Date
outside the scope of AC Immune’s activities under this Agreement; but in each case [*****] 

  

	1.2	“AC Immune Imaging Compounds” means those Compounds claimed in any AC Immune Tau Protein Imaging Patent, including in the Patent application(s) listed on Exhibit A. 

 

	1.3	“AC Immune Indemnitee” is defined in Section 13.2. 

  

	1.4	“AC Immune Tau Protein Imaging IP” means the AC Immune Tau Protein Imaging Patents and the AC Immune Tau Protein Imaging Know-How. 

 

	1.5	“AC Immune Tau Protein Imaging Know-How” means all Know-How that: (a) is Controlled by AC Immune on the Effective Date or thereafter during the Term; and (b) relates to Compounds, but [*****]

  

	1.6	“AC Immune Tau Protein Imaging Patents” means: (a) the Patents listed on Exhibit A; (b) all Patents that claim priority to the Patents listed on Exhibit A; and (c) all Patents that are
owned or Controlled by AC Immune at any time during the Term that relate to the manufacture, use, sale or importation of Compounds that exist as of the Effective Date in the Field, including composition of matter or methods of using Compounds and
Compound Inventions created after the Effective Date, but [*****] 

  

	1.7	“AC Immune Therapeutic Agent” means any [*****] which are Controlled by AC Immune at or after the Effective Date, including any AC Immune Therapeutic Agents that are or will be the subject of a Third
Party license, but [*****] 

  

	1.8	“Affiliate” means, with respect to a Party, any person, corporation, firm, joint venture or other entity which, directly or indirectly, through one or more intermediates, controls, is controlled by or
is under common control with such Party. As used in this definition, “control” means the possession of the majority of ownership, or the power to direct or cause the direction of the management and policies of an entity, whether through
the ownership of the outstanding voting securities or by contract or otherwise. 

  

	1.9	“Annual Net Sales” means, with respect to a particular calendar year, [*****] during such calendar year. 

  
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	1.10	“Change of Control” means, with respect to a Party, (a) the sale of all or substantially all of such Party’s tangible and intangible assets or business relating to this Agreement; or
(b) the merger, consolidation, sale of substantially all of such Party’s assets or similar transaction or series of transactions, as a result of which such Party’s shareholders before such transaction or series of transactions own
less than fifty percent (50%) of the total number of voting securities of the surviving entity immediately after such transaction or series of transactions. 

  

	1.11	“Claim” is defined in Section 13.1. 

  

	1.12	“Clinical Trial” means any study in human subjects. 

  

	1.13	“Collaboration IP” means the Collaboration Patents and Collaboration Know-How. 

  

	1.14	“Collaboration Know-How” means any Know-How that is generated under a Research Plan or Development Plan during the Term, whether by one Party or jointly by both Parties, [*****] 

 

	1.15	“Collaboration Patents” means each Patent that claims any invention that is first conceived or reduced to practice, whether by one Party (“Solely Owned Collaboration Patents”) or jointly by
both Parties (“Jointly Owned Collaboration Patents”), in the course of performing a Research Plan or Development Plan, but [*****] 

  

	1.16	“Commercialization” means activities directed to marketing, promoting, distributing or selling Product, including all activities directed to obtaining Pricing Approval in the Territory; and [*****].
“Commercialize” and “Commercializing” shall have their correlative meanings. 

  

	1.17	“Commercially Reasonable Efforts” means with respect to the efforts to be expended by [*****] 

  

	1.18	“Compound” [*****] and may be suitable for selection as a Lead Candidate as guided by the Selection Criteria as described in Appendix 1 of this Agreement. 

 

	1.19	“Compound Invention” is defined in Section 9.1(b). 

  
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	1.20	“Confidential Information” means any confidential information disclosed in any form whatsoever by one Party to the other Party, including, without limitation, the content of the transactions
contemplated herein, all technology belonging to the disclosing Party and any improvements thereto, any information relating to a Party’s interests, business, finances, products, operations, sales, marketing, customers, suppliers and
suppliers’ bills of materials, trade secrets, Know-How, data, processes, methods, techniques, formulas, test data, presentations, analyses, studies, patent applications (as long as undisclosed), financial data, product development, assays,
strategic and market research information, other relevant marketing information, clinical data and any other information, whether developed in connection with this Agreement or not. 

 

	1.21	“Control” means with respect to any Know-How, Patent, material or other tangible or intangible intellectual property right, the possession by a Party of (whether by ownership or license, other than
licenses granted pursuant to this Agreement) the ability to grant to the other Party access to, ownership of, or a license or sublicense under, such Know-How, Patent, material or other intellectual property, in each case as provided under this
Agreement, without violating the terms of any agreement or other arrangement with any Third Party. [*****] 

  

	1.22	“Covers” means, with respect to a Patent and a Compound or Product, that the making, use, sale, offer for sale or importation of such Compound or Product would infringe a Valid Claim of such Patent in
the country in which the activity occurred, but for the licenses granted in this Agreement. 

  

	1.23	“Declaratory Judgment” is defined in section 9.5. 

  

	1.24	“Development” means, with respect to a Product, any and all processes and activities conducted to obtain and maintain Regulatory Approval for the Product, including pre- and post-marketing approval
clinical studies and activities relating to development or preparation of such Product for Commercialization. Development includes performance of IND Enabling Studies and Clinical Trials. “Develop” and “Developing”
shall have their correlative meanings. 

  

	1.25	“Development Plan” means the written plan for the Development (from pre-clinical IND Enabling studies through Regulatory Approval) of a Lead Candidate and Product in the Territory, as such plan may be
updated from time to time by the JSC. The initial Development Plan is attached to this Agreement as Exhibit B (“Initial Development Plan”). 

  

	1.26	“Enforcement Action” is defined in Section 9.9. 

  

	1.27	 “Entity” means a partnership, limited partnership, limited liability partnership, corporation, limited liability company, business
trust, joint stock company, trust, 

  
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incorporated association, joint venture or similar entity or organization, or other entity not specifically listed. 

 

	1.28	“EU” means all of the European Union member states as of the applicable time during the Term of this Agreement. 

  

	1.29	[*****] 

  

	1.30	“Field” means [*****]. 

  

	1.31	“First-in-Man Clinical Trial” means a clinical study for the first administration of a Product to humans. 

  

	1.32	“Government Authority” means any multi-national, federal, state, local, municipal or other government authority of any nature (including any governmental division, subdivision, department, agency,
bureau, branch, office, commission, council, court or other tribunal). 

  

	1.33	“IFRS” means the International Financial Reporting Standards. 

  

	1.34	“Indemnitee” is defined in Section 13.3. 

  

	1.35	“IND Enabling Study” means those studies required by a Regulatory Authority for submission of an investigational new drug application prior to initiating Clinical Trials. 

 

	1.36	“Initial Development Plan” means the Development Plan attached as Exhibit B. 

  

	1.37	“Joint Steering Committee” or “JSC” is defined in Section 2.2. 

  

	1.38	“Know-How” means any tangible and intangible information, data, results (including pharmacological, research and development data, reports and batch records), and materials, discoveries, improvements,
inventions, compositions of matter, cell lines, assays, sequences, processes, methods, knowledge, protocols, formulas, utility, formulations, inventions (whether patentable or not), strategy, know-how and trade secrets, and all other scientific,
pre-clinical, clinical, regulatory, manufacturing, marketing, financial and commercial information or data, in each case that either Party has treated as confidential or proprietary information. 

 

	1.39	“Law” means the applicable laws, rules and regulations, including any rules, regulations, guidelines or other requirements of any Governmental Authorities (including any Regulatory Authorities) that may
be in effect from time to time in any country or jurisdiction of the Territory. 

  

	1.40	“Lead Candidate” means those Compounds that have been [*****] 

  
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	1.41	“Losses” is defined in Section 13.1. 

  

	1.42	“Major EU Market” means any of the following: [*****] 

  

	1.43	“Manufacture” means activities directed to producing, manufacturing, processing, filling, finishing, packaging, labeling, quality assurance testing and release, shipping and delivery of the Product,
including process development in connection with such activities or scale up thereof (in each case, whether for purposes of Research, Development or Commercialization of the Product). “Manufacturing” shall have the correlative
meaning. 

  

	1.44	“NDA” means a New Drug Application, as defined in 21 C.F.R. 314, and any other appropriate application or registration submitted to the appropriate Regulatory Authority in a particular country in the
Territory to seek approval for sale of the Product in such country. 

  

	1.45	“Net Sales” of a Product in a particular period means [*****] 

 [*****] 

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

  
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 [*****] 

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

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

 

	1.46	“Patent” means (a) any patent, re-examination, reissue, renewal, extension, supplementary protection certificate and term restoration, any confirmation patent or registration patent or patent of
addition based on any such patent, (b) any pending application for patents, including provisional, converted provisional, continuations, continuations-in-part, divisional and substitute applications, and inventors’ certificates,
(c) all foreign counterparts of any of the foregoing, and (d) all applications claiming priority to any of the foregoing. 

  

	1.47	“Patent Filing Country” means those countries where one or more patent applications for [*****] which lists may be updated from time to time as agreed upon by the JSC. 

 

	1.48	“Person” means any individual, unincorporated organization or association, governmental authority or agency, or other Entity. 

 

	1.49	“PET Agent”, means [*****]. 

  

	1.50	“Phase I Clinical Trial” means a study of a Product in human subjects with the endpoint of determining initial tolerance, safety or pharmacokinetic information. 

 

	1.51	“Phase II Clinical Trial” means a study of Product in human subjects to determine initial efficacy and to further evaluate its safety. 

 

	1.52	 “Phase III Clinical Trial” means an adequate and well-controlled pivotal study in the Field in human patients of a Product designed
to ascertain efficacy and safety of such 

  
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Product for the purposes of enabling the preparation and submission of applications for Regulatory Approval to the competent Regulatory Authorities in a country of the Territory.

  

	1.53	“Piramal Background IP” means all Know-How directly related to and essential for the Development and Manufacture of a PET Agent that is Controlled by Piramal as of the Effective Date or during the Term
and [*****] 

  

	1.54	“Piramal Indemnitee” is defined in Section 13.1. 

  

	1.55	“Pricing Approval’’ shall mean such approval, agreement, determination or governmental decision establishing prices for the Products that can be charged to consumers and shall be reimbursed by
Governmental Authorities or private health plans in regulatory jurisdictions where the Governmental Authorities or Regulatory Authorities approve or determine pricing of pharmaceutical products for reimbursement or otherwise. 

 

	1.56	“Product” means any product that is a PET Agent, that is or that contains a Compound and that: [*****] 

  

	1.57	“Prosecution and Maintenance” means, with respect to a Patent, the preparing, filing, prosecuting and maintenance of such Patent, as well as re-examinations, reissues, requests for Patent term
extensions and the like with respect to such Patent, together with the conduct of interferences, the defense of oppositions and other similar proceedings with respect to the particular Patent; and “Prosecute and Maintain” shall have the
correlative meaning. 

  

	1.58	“Publication Strategy” is defined in Section 10.5. 

  

	1.59	“Regulatory Approval” means the technical, medical and scientific licenses, registrations, authorizations and approvals (including, without limitation, approvals of NDAs, supplements and amendments,
pre- and post-approvals, pricing and reimbursement approvals, and labeling approvals) of any national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity, necessary for
the Development, Manufacture and Commercialization of Product in a regulatory jurisdiction in the Field, in the Territory. 

  

	1.60	“Regulatory Authority” means, in a particular country or jurisdiction in the Territory, any applicable Governmental Authority involved in granting approval (a) to initiate or conduct clinical
testing in humans, (b) for issuing the authorizations, approvals, licenses, permits, consents, registrations and filings necessary for the commercialization of the Product in a country in the Territory including marketing authorizations and
manufacturing licenses, and/or (c) to the extent required in such country or jurisdiction, for Pricing Approval for a Product in such country or jurisdiction. 

  
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	1.61	“Regulatory Materials” means regulatory applications, submissions, notifications, registrations, Regulatory Approvals or other submissions made to or with a Regulatory Authority that are necessary or
reasonably desirable in order to Develop, Manufacture and Commercialize the Products in a particular country. 

  

	1.62	“Research” means the activities to be performed by one or both Parties pursuant to the Research Plan, [*****]. For the avoidance of doubt, Research is work performed outside of the IND Enabling Studies.

  

	1.63	“Research Plan” means the written plan for the Research, which plan is attached hereto as Appendix 3 and incorporated herein by this reference. 

 

	1.64	“Reviewing Party” is defined in Section 10.5(a). 

  

	1.65	“Royalty Term” is defined in Section 8.5(c). 

  

	1.66	“Securities Laws” is defined in Section 10.2(b). 

  

	1.67	“Selection Criteria” means the set of criteria applied by the JSC to select a Compound as a Lead Candidate, which criteria is attached hereto as Appendix 1. 

 

	1.68	“Sublicense Revenue” means with respect to any Product, [*****] 

  

	1.69	“Territory” means worldwide. 

  

	1.70	“Third Party” means any Person other than Piramal, AC Immune or any Affiliate of either Party. 

  

	1.71	“Third Party Challenge” is defined in Section 9.9. 

  

	1.72	“US” means the United States of America and its possessions and territories. 

  

	1.73	“Valid Claim” means (a) a claim of an issued and unexpired Patent which has not been disclaimed, revoked, held unenforceable or invalid by a decision of a court or other governmental agency of
competent jurisdiction, which decision is unappealable or unappealed within the time allowed for appeal, and which has not been admitted to be invalid or unenforceable through reissue or disclaimer or otherwise, and (b) a claim in a pending
Patent application that has not been pending for more than [*****] years from the earliest date from which such application claims priority of or the benefit of the filing date of, and, in any case, which has not been canceled, withdrawn from
consideration, 

  
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 finally determined to be unallowable by the applicable governmental authority or court for
whatever reason (and from which no appeal is or can be taken), or abandoned. 
 ARTICLE 2 

SCOPE OF COLLABORATION AND MANAGEMENT 
  

	2.1	Scope of Collaboration. AC Immune and Piramal are entering into this Agreement whereby in accordance with the terms and conditions of this Agreement: (a) the Parties shall, [*****], perform Research on one
or more Compounds to determine and identify the Lead Candidates; (b) Piramal Imaging SA shall, [*****], Develop Lead Candidates into one or more Products; (c) Piramal Imaging Ltd. [*****], Manufacture and Commercialize the Product in the
Field; and (d) at [*****], the Parties may share information [*****]. 

  

	2.2	Joint Steering Committee. 

  

	 	(a)	Purpose; Formation. Within [*****] days after the Effective Date, the Parties will establish a committee (the “Joint Steering Committee” or “JSC”) that shall, in accordance with
this Section 2.2, monitor and coordinate communication regarding the Parties’ performance under this Agreement. The JSC shall have only the powers assigned expressly to it in this Section 2.2 and elsewhere in this Agreement.

  

	 	(b)	Composition. Each Party shall initially appoint [*****] representatives to the JSC, each of whom will have sufficient seniority within the applicable Party to make decisions arising within the scope of the
JSC’s responsibilities. The JSC may change its size from time to time by mutual consent of its members, provided that the JSC shall at all times consist of an equal number of representatives of each Party. Each Party may replace its JSC
representatives at any time upon written notice to the other Party; provided, however, that replacement of any JSC representative with an individual with lower seniority (as determined by such individual’s role within a
Party’s organization and not by his/her title) shall require approval of the other Party which approval shall not be unreasonably withheld. The JSC may invite non-members (including consultants and advisors of a Party who are under an
obligation of confidentiality consistent with this Agreement) to participate in the discussions and meetings of the JSC, provided that such participants shall have no voting authority at the JSC. The JSC shall have a chairperson, who shall serve for
a term of one year, and who shall be selected alternately, on an annual basis, by either Party. The initial chairperson shall be designated by Piramal. The role of the chairperson shall be to convene and preside at meetings of the JSC, to prepare
and circulate agendas and to ensure the preparation of minutes, but the chairperson shall have no additional powers or rights beyond those held by the other JSC representatives. 

  
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	 	(c)	Responsibilities. In addition to its overall responsibility for monitoring and providing a forum to discuss and coordinate the Parties’ activities under this Agreement, the JSC shall in particular:

  

	 	(i)	oversee and manage the technology transfer between the Parties as described in this Agreement of Compounds, data and Know-How necessary for or resulting from Research and Development activities; 

 

	 	(ii)	propose and consider, and recommend to each Party any modifications to the Research Plan; 

  

	 	(iii)	coordinate activities under the Research Plan, and review and discuss results; 

  

	 	(iv)	review data and other results and discuss the status of activities undertaken for the Development [*****] 

  

	 	(v)	review the Development Plan on an annual basis or as more frequently as agreed on by the JSC (but in no event more frequently than biannually) and recommend and agree on any updates thereto; 

 

	 	(vi)	[*****] 

  

	 	(vii)	review and discuss the status and strategy on the Commercialization of the Product; 

  

	 	(viii)	review and discuss payments due under Article 8; 

  

	 	(ix)	review and discuss any intellectual property related matters, including [*****] 

  

	 	(x)	propose and consider, and recommend to each Party, amendments to the terms of this Agreement. 

Notwithstanding the foregoing, the JSC shall have no authority to amend or supplement this Agreement or any exhibit hereto, including the
Research Plan or any Development Plan, nor to waive any right that either Party may have under this Agreement. Any amendments or additions to this Agreement or any exhibit hereto, including amending the Research Plan or amending or adopting any
Development Plan, shall only be effective if mutually agreed in writing by at least one authorized representative of each Party in accordance with Section 15.9. 
  

	 	(d)	 Meetings. Unless the Parties mutually agree in writing to a different frequency, the JSC shall hold at least [*****] per year (at least [*****]
of which shall be held in person) on such dates at such times each year as it elects. The meetings 

  
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of the JSC shall alternate between Berlin, Germany and Lausanne, Switzerland. Meetings of the JSC shall be effective only if at least two (2) representatives of each Party are present or
participating. Each Party shall bear the expense of its respective members’ participation in JSC meetings. The chairperson of the JSC shall be responsible for preparing and issuing minutes of each such meeting within [*****] days thereafter.
Such minutes shall not be finalized until each Party reviews and confirms the accuracy of such minutes in writing; provided that any minutes shall be deemed approved unless a member of the JSC objects to the accuracy of such minutes within [*****]
days after the circulation of the minutes by the chairperson. 

  

	 	(e)	Decision Making. The JSC shall act by consensus. The representatives from each Party will have, collectively, one (1) vote on behalf of that Party. If the JSC cannot reach consensus on an issue that comes
before the JSC and over which the JSC has oversight, then such matter shall be resolved in accordance with Section 2.3. 

  

	2.3	Resolution of Committee Disputes. 

  

	 	(a)	Within the JSC. All decisions within the JSC shall be made by consensus. If the JSC is unable to reach consensus on any issue, either Party may elect to submit such issue to the Parties’ executive
officers in accordance with Section 2.3(b). 

  

	 	(b)	Referral to Executive Officers. If a Party elects to refer a matter to the executive officers, the JSC shall submit in writing the respective positions of the Parties to their respective executive officers. Such
executive officers shall use good faith efforts to resolve promptly such matter, which good faith efforts shall include at least one teleconference between such executive officers within [*****] business days after the JSC’s submission of such
matter to them. If the executive officers are unable to reach consensus on any such matter within [*****] days after the referral of such matter to the executive officers, then Piramal shall have final decision making authority with respect to
[*****] 

 ARTICLE 3 

LICENSES 
  

	3.1	License Grant to Piramal Imaging SA. 

  

	 	(a)	Exclusive License Under AC Immune Tau Protein Imaging IP and Collaboration IP. Subject to the terms and conditions of this Agreement, AC Immune hereby grants to Piramal Imaging SA an exclusive license, with the
right to grant sublicenses in accordance with Section 3.3, under the AC Immune Tau Protein Imaging IP and AC Immune’s interests in Collaboration IP to Research, use, Develop, have Developed, Manufacture, have Manufactured, Commercialize
and have Commercialized Products in the Field in the Territory. 

  
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	 	(b)	Non-Exclusive License Under AC Immune Background IP. Subject to the terms and conditions of this Agreement, AC Immune hereby grants Piramal Imaging SA a royalty-free, fully paid-up, worldwide non-exclusive
license, with the right to grant sublicenses in accordance with Section 3.3, under the AC Immune Background IP in the Field in the Territory solely to the extent necessary for Piramal to perform its obligations and exercise its rights under
this Agreement, including to Research, Develop, Manufacture and Commercialize Products in the Field in the Territory. 

  

	3.2	Grant to AC Immune. Subject to the terms and conditions of this Agreement, Piramal Imaging SA hereby grants AC Immune a royalty-free, non-exclusive license, without any right to grant sublicenses, under the
Piramal Background IP solely to the extent necessary for AC Immune to perform its obligations under the Research Plan and, if applicable, any Development Plan. 

  

	3.3	Sublicenses. Piramal Imaging SA may grant sublicenses under the rights granted to it in Section 3.1; provided, however, that (a) each such sublicense is consistent with the terms and
conditions of this Agreement, including without limitation provisions that provide for intellectual property ownership, records and audit rights, indemnification and confidentiality consistent with this Agreement, (b) Piramal shall notify AC
Immune of any such sublicense agreement within [*****] days after it becomes effective, and (c) Piramal shall remain liable for any breach of any provisions of this Agreement caused by such sublicensee. 

 

	3.4	No Implied Rights. Except as specifically set forth in this Agreement, neither Party shall acquire any license, intellectual property interest or other rights, by implication or otherwise, in any Know-How
disclosed to it under this Agreement or under any Patents Controlled by the other Party or its Affiliates. 

  

	3.5	Other Development. During the Term of the Agreement, Piramal shall not develop and commercialize in the Territory in the Field any Tau protein selective or Tau protein targeting PET Agents other than Products.
During the Term of the Agreement, AC Immune shall not license to or collaborate with any Third Party in the discovery, development and commercialization of any Tau protein selective or Tau protein targeting PET Agents. Notwithstanding the foregoing
provision of this Section 3.5, in the event of a Change of Control of a Party or a Business Acquisition, the provisions of this Section 3.5 shall not apply to any active research or development program that a portion of the surviving
entity or Affiliate that was not such Party (prior to the Change of Control or Business Acquisition) had ongoing as of immediately prior to the date of such Change of Control or Business Acquisition. For clarity, if as a result of any such Change of
Control, a Party exists as a wholly owned subsidiary of a parent, then the provisions of this Section 3.5 shall continue to apply to such Party as the surviving entity, but not to such parent. As used herein, “Business
Acquisition” means the acquisition of all or substantially all of a Third Party’s business or assets by either AC Immune or Piramal or an Affiliate of either Party. 

 

	3.6	Reservation of Rights. AC Immune hereby reserves the right to use [*****] 

  
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 [*****], and Piramal hereby reserves the right to enter collaborations with Third Parties for
the use of the Product(s) in [*****] 
 ARTICLE 4 

RESEARCH AND DEVELOPMENT 
  

	4.1	Overview. AC Immune shall identify all of its molecules that are Compounds and provide such information to Piramal. Each Party agrees to use Commercially Reasonable Efforts to conduct the activities assigned to
such Party in Research Plan and the Development Plan. Each Party shall conduct its Research and Development activities under this Agreement in good scientific and clinical manner and in compliance in all material respects with all applicable Laws.

  

	4.2	Research Plan. The Parties will collaborate together on Research to evaluate the Compounds in accordance with the Research Plan and under the guidance of the JSC. For clarity, the initial Research Plan shall
include continued evaluation by both Parties of Compounds as potential candidates for selection as Lead Candidates based on the Selection Criteria. The initial Research Plan shall include without limitation the evaluation of Compounds based on the
assays and studies outlined in Appendix 3. Each party shall assume the cost for executing its obligations under the Research Plan. In the event there are studies regarding a Product that either Party is interested in performing but to which
the other Party is not interested, such interested Party shall have the right, at its own cost and expense, to conduct such study so long as the study does not predictably result in any detriment to the Research, Development or Commercialization of
the Product. 

  

	4.3	Development Plan. The Parties will cooperate in good faith in designing the Development Plan, which will provide for the advancement of at least one Lead Candidate. Piramal shall be responsible for all costs
associated with the performance of the Development Plan. The Parties agree that the Development Plan shall not materially increase AC Immune’s obligations, cause AC Immune to incur additional costs, or conflict with any other provision of this
Agreement without AC Immune’s written consent. The Development Plan shall be reviewed and updated in accordance with Section 2.2(c)(v). 

  

	4.4	Other Discovery. If all Compounds within the AC Immune Tau Protein Imaging Patents fail in the Research and Development efforts, the Parties will discuss and agree on a Compound discovery program, the terms of
which shall be mutually agreed upon by the Parties. 

  

	4.5	[*****]. The Parties may collaborate on the use of the Product in the development and commercialization of AC Immune Therapeutic Agents. Upon AC Immune’s request and agreement of the JSC, Piramal shall
provide to AC Immune (a) imaging related technical expertise and input into the Clinical Trials of the AC Immune Therapeutic Agents, and (b) assistance in the interpretation of the resultant image-related data. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	4.6	Information and Records. 

  

	 	(a)	Each Party shall maintain complete, current and accurate records of all work conducted by it under the Research Plan and any Development Plan, including all data and other Know-How resulting from such work. Such records
shall fully and properly reflect all work done and results achieved in the performance of the Research Plan and Development Plan in sufficient detail and in good scientific manner appropriate for patent and regulatory purposes. Each Party shall have
the right to review such records maintained by the other Party at reasonable times, upon written request. Each Party shall provide written reports to the JSC on its Research, Development and regulatory activities with the Product pursuant to the
applicable Research Plan and Development Plan on an annual basis at the end of each calendar year, at a level of detail reasonably sufficient to enable the other Party to determine the reporting Party’s compliance with its Commercially
Reasonable Efforts obligations under Section 4.1. 

  

	 	(b)	[*****] 

  

	 	(c)	[*****] 

 ARTICLE 5 

REGULATORY 
  

	5.1	Product. Piramal shall have the sole right, [*****] to conduct and manage all regulatory activities to support the Development, Manufacture and Commercialization of the Product(s) in the Territory, including
obtaining Regulatory Approvals of the Product(s) in the name of Piramal or its Affiliates or designees. AC Immune shall provide support as reasonably requested by Piramal in regulatory activities and meetings with Regulatory 

  
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HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	
Authorities and shall provide technical expertise and support to Piramal as reasonably requested by Piramal on all aspects of the Regulatory Approval processes. For clarity, Piramal shall take
the lead in all regulatory activities and shall have final decision making authority on such activities. Piramal shall own all Regulatory Materials. 

  

	5.2	Rights of Reference to Regulatory Materials. Piramal hereby grants to AC Immune a right of reference to all Regulatory Materials filed by Piramal for Product, and AC Immune hereby grants to Piramal a right of
reference to all materials filed by AC Immune with Regulatory Authorities for AC Immune Therapeutic Agent. Such rights of reference are granted by each Party solely for the purpose of the other Party obtaining approval on its respective product.

 ARTICLE 6 

MANUFACTURING; SUPPLY 
  

	6.1	Manufacture. Piramal shall be responsible and shall exert Commercially Reasonable Efforts, [*****], to develop and establish Manufacturing processes to support the Development and Commercialization of the
Product(s) in the Field in the Territory. AC Immune shall provide technical expertise and assistance to Piramal in support of Piramal’s development and establishment of Manufacturing processes. Piramal may, in its sole discretion, subcontract
the Manufacture of Products to Third Parties. 

  

	6.2	[*****]. 

  

	6.3	Supply of [*****] Doses. Piramal shall manufacture and supply doses of [*****] 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

 ARTICLE 7 

COMMERCIALIZATION 
  

	7.1	Product. Piramal Imaging Ltd shall be responsible and undertake Commercially Reasonable Efforts, [*****] to Commercialize the Product in the Field in the Territory. Piramal shall, to the extent permitted under
its agreements with Third Parties, provide the JSC with information concerning its Commercialization activities and the status with respect to the Product(s). Activities by Piramal’s Affiliates and sublicensees will be considered as
Piramal’s activities under this Agreement for purposes of determining whether Piramal has complied with its obligations under this Section 7.1. 

  

	7.2	Pricing. Piramal Imaging Ltd shall be solely responsible for determining the pricing of each Product in the Field in the Territory, including Pricing Approval. 

ARTICLE 8 
 CONSIDERATION
AND PAYMENTS 
  

	8.1	Upfront Payment. In consideration of the rights granted hereunder, Piramal Imaging SA shall pay AC Immune an upfront payment of [*****], which payment is due on the Effective Date and is payable by Piramal
Imaging SA no later than [*****] days after the Effective Date, and which amount shall be non-creditable against any other amounts owed by Piramal Imaging SA under this Agreement. 

 

	8.2	Development Milestone Payments. 

  

	 	(a)	With respect to Products, Piramal Imaging SA shall pay AC Immune a milestone payment upon first achievement by Piramal, its Affiliate or a sublicensee of the applicable development milestone event for each Product as
set forth in the table below, such payments to be in the listed amounts for the applicable development milestone event. 

  

			
	 Development Milestone Event
	  	Milestone
Payment
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]

  
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HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	(b)	[*****] 

  

	 	(c)	[*****] 

  

	8.3	Sales Milestones. Piramal Imaging SA shall pay AC Immune a milestone payment upon first achievement of the applicable sales milestone event set forth in the table below, such payments to be in the listed amounts
for the applicable sales milestone event. 

  

			
	 Sales Milestone Event
	  	Milestone
Payment
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]

  

	8.4	Sublicensing Revenue. Piramal Imaging SA shall pay AC Immune a percentage of Sublicense Revenue. Subject to Section 8.6, [*****] 

  
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HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

			
	 [*****]
	  	Percentage of
Sublicense Revenue
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]

  

	8.5	Royalties. 

  

	 	(a)	Subject to this Section 8.5 and Section 8.6, Piramal shall during the Royalty Term pay to AC Immune the royalties below in respect of Annual Net Sales of the Product in the Field in the Territory:

  

			
	 Annual Net Sales
	  	Royalty Rate
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]

  

	 	(a)	Royalty Step-Down. If the sale of any Product is not Covered by a Valid Claim of (i) an AC Immune Tau Protein Imaging Patent or (ii) a Collaboration Patent, in each case in the country in which such
sale occurred, then the royalties due under Section 8.5(a) shall be reduced as follows: [*****] 

  

	 	(b)	 Royalty Term. Piramal Imaging SA’s royalty payment obligations under this Section 8.5 shall expire, on a Product-by-Product and
country-by-country basis, on the later of: (i) ten (10) years after the First Commercial Sale of the Product in such country; or (ii) the date on which there is no longer a Valid Claim within the AC Immune Tau Protein Imaging Patents or
Collaboration Patents that Covers the sale of such Product in such country (such period, the “Royalty Term”). At the end of the Royalty Term with respect to a Product and a country, the licenses granted to

  
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HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	
Piramal under Section 3.1 with respect to such Product in such country shall automatically convert to non-exclusive, royalty-free, fully paid-up, perpetual, irrevocable licenses.

  

	8.6	Reduction for Third Party Licenses. lf Piramal Imaging SA, its Affiliates or sublicensees owes to one or more Third Parties, under license agreements granting Piramal Imaging SA (or its Affiliate or sublicensee)
license rights covering intellectual property rights that are needed lawfully to make, use, sell or import Products, then Piramal Imaging SA may [*****]; provided, however, [*****] 

 

	8.7	Reports and Payments. 

  

	 	(a)	Milestones. Piramal Imaging SA shall promptly notify AC Immune of the achievement of any milestone event for the Product in the Field achieved in accordance with Sections 8.2 and 8.3. All milestone payments shall
be due within [*****] days after achievement of the applicable milestone event and are non-refundable, and non-creditable against any other payments due hereunder; provided that, if the Development of a Product is abandoned, [*****] and
provided further that [*****]. 

  

	 	(b)	Sublicense Revenue. Any fees owed under Section 8.4 shall be paid, with respect to particular Sublicense Revenue received by Piramal Imaging SA, within [*****] days after Piramal Imaging SA’s receipt of
the applicable Sublicense Revenue. 

  

	 	(c)	Royalties. [*****] Piramal shall deliver to AC Immune a report setting forth for such quarter the following information: [*****] No such reports shall be due for any Product before the first commercial sale of
the Product in the Territory. The total royalty due for the sale of the Product during such quarter shall be remitted no later than [*****] days after the end of each such quarter. 

 

	8.8	Payment Method. Payments hereunder shall be paid by wire transfer, or electronic funds transfer (EFT) in immediately available funds to a bank account designated by AC Immune at least [*****] days in advance of
such payment. Regardless of the amounts of any royalties or other payments due under this Agreement or any other agreement between the Parties or their Affiliates, all amounts payable under this Agreement shall be paid in full. 

 

	8.9	 Blocked Currency. If at any time legal restrictions in any country in the Territory prevent the prompt remittance of any payments with respect
to sales in that country, Piramal shall 

  
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HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	have the right and option upon written notice to AC Immune to make such payments be depositing the amount thereof in local currency to AC Immune’s account (or such other designed nominee by AC Immune) in a bank or
depository in such county. 

  

	8.10	Currency. All amounts payable and calculations hereunder shall be in Euros. Conversion of sales recorded in local currencies to Euros will be performed in a manner consistent with a Party’s normal practices
used to prepare its financial statements and consistent with IFRS, provided that such practices use a widely accepted source of published exchange rates. 

  

	8.11	Taxes and Withholding. All payments due from Piramal to AC Immune under this Agreement will be made without any deduction or withholding for or on account of any tax unless such deduction or withholding is
required by applicable Laws to be assessed against AC Immune. If Piramal is so required to deduct or withhold, Piramal will promptly notify AC Immune of such requirement, (b) pay to the relevant authorities the full amount required to be
deducted or withheld promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed against AC Immune, (c) promptly forward to AC Immune an official receipt (or
certified copy) or other documentation reasonably acceptable to AC Immune evidencing such payment to such authorities, and (d) otherwise reasonably cooperate with AC Immune in connection with AC Immune’s attempts to obtain favorable tax
treatment and credit therefor (where appropriate) in accordance with applicable Laws. 

  

	8.12	Maintenance of Records. Piramal shall keep accurate books and accounts of record in connection with the sale of Product and the calculation of payments to be made under this Agreement in sufficient detail to
permit accurate determination of all figures necessary for verification of royalties and other payments to be paid from Piramal to AC Immune under this Agreement. Piramal shall maintain such records for a period of at least [*****] years after the
end of the calendar year in which they were generated 

  

	8.13	Audits. AC Immune shall have the right, at its own expense and no more than once per year, to have an independent, certified public accountant, selected by AC Immune and reasonably acceptable to Piramal, review
all records maintained in accordance with Section 8.11 upon reasonable notice and during regular business hours and under obligations of strict confidence, for the sole purpose of verifying the basis and accuracy of payments required and made
under this Agreement within the prior [*****] month period. No calendar quarter may be audited more than one time. Piramal shall receive a copy of each audit report promptly from AC Immune. Should the inspection lead to the discovery of a
discrepancy to AC Immune’s detriment, Piramal shall pay the amount of the discrepancy in AC Immune’s favor plus interest accrued, compounded semiannually from the day the relevant payment(s) were due, within [*****] days after being
notified thereof. AC Immune shall pay the full cost of the inspection unless the discrepancy is greater than [*****], in which case Piramal shall pay to AC Immune the actual cost charged by such accountant for such inspection. If such audit shows a
discrepancy in Piramal’s favor, then Piramal may credit the amount of such discrepancy against subsequent amounts owed to AC Immune, or if no further amounts are owed under this Agreement, then AC Immune shall pay Piramal the amount of the
discrepancy without interest within [*****] days after being notified thereof. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

 ARTICLE 9 

INTELLECTUAL PROPERTY 
  

	9.1	Ownership. 

  

	 	(a)	Background IP. As between the Parties, (i) AC Immune shall solely own the AC Immune Background IP, and (ii) Piramal Imaging SA shall solely own the Piramal Background IP. 

 

	 	(b)	Inventions. 

  

	 	(i)	Any invention that comprises the [*****] 

  

	 	(ii)	The ownership of any [*****] 

  

	 	(iii)	Inventorship shall be determined in accordance [*****] 

  

	9.2	Disclosure. Each Party shall promptly disclose to the other Party all inventions and Know-How, including all invention disclosures or other similar documents submitted to such Party by its, or its
Affiliates’ employees, agents or independent contractors describing the inventions and Know-How created under Section 9.1(b). 

  

	9.3	Prosecution and Maintenance of AC Immune Tau Protein Imaging IP and Jointly Owned Collaboration IP. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

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CONFIDENTIAL – 
  

	 	(a)	AC Immune and Piramal Imaging SA shall select a mutually agreeable outside counsel (“Outside Patent Counsel’’) to be responsible for the [*****] 

 

	 	(b)	With respect to Patents within the AC Immune Tau Protein Imaging IP and Jointly Owned Collaboration IP, the Parties shall cooperate and assist each in the Prosecution and Maintenance of such Patents, including [*****]

  

	 	(c)	As soon as one of the Parties determines that it wishes to file a patent application covering any such invention within the AC Immune Tau Protein Imaging IP or Jointly Owned Collaboration IP, it shall promptly inform
the other Party thereof. With respect thereto, the Parties shall promptly engage the Outside Patent Counsel to draft a patent application for such invention and to make a preliminary determination of inventors and scope of claims. 

 

	 	(d)	The Outside Patent Counsel shall be instructed to (i) keep the Parties informed as to the filing, and Prosecution and Maintenance (including those involving the question of the scope of, the issuance of, the
rejection of, an interference involving, or an opposition to any such patent application or resulting Patent) of, such Patents, such that each Party has sufficient time to review and comment upon any documents intended for submission to any patent
office; (ii) furnish to each Party a copy of the patent application and copies of documents relevant to such Prosecution and Maintenance, including copies of correspondence with any patent office, foreign associates, and outside counsel;
(iii) reasonably consider and incorporate comments of the Parties on documents filed with any patent office; and (iv) advise and consult with each Party promptly after receiving any substantial action or development in the prosecution of
any such patent application. In addition, the Outside Patent Counsel shall provide the Parties with a report, no less frequently than once per calendar quarter (or as otherwise mutually agreed by the Parties), listing all Patents within AC Immune
Tau Protein Imaging IP Rights and Jointly Owned Collaboration IP, identifying them by country and patent or application number, and briefly describing the status thereof. 

 

	 	(e)	Unless otherwise mutually agreed by the Parties, both during and after the Term of this Agreement, all costs of prosecuting and maintaining AC Immune Tau Protein Imaging IP and Jointly Owned Collaboration IP shall be
borne [*****] 

  

	9.4	 Abandonment of Prosecution and Maintenance. With respect to Patents within the AC Immune Tau Protein Imaging IP and Jointly Owned Collaboration
IP, if a Party (the 

  
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CONFIDENTIAL – 
  

	 	
“Electing Party”) elects not to Prosecute and Maintain such Patents (whether worldwide or with respect to any particular country), or elects not to file such patents in certain
Patent Filing Countries, including electing not to file a patent application with respect thereto or to allow any such Patents to lapse or become abandoned or unenforceable, then the Electing Party shall promptly notify the other Party (the
“Non-Electing Party”) in writing (which such notice shall be at least [*****] days prior to the lapse or abandonment of any such Patent). Thereafter, the Non-Electing Party may, but is not required to, undertake, at its sole expense
and in its sole discretion, the Prosecution and Maintenance of such Patents. 

  

	9.5	Prosecution and Maintenance of Solely Owned Collaboration Patents. Each Party shall have the right, but not the obligation, at its sole expense to Prosecute and Maintain such Party’s Solely Owned
Collaboration Patent. The Parties shall consult and cooperate in the Prosecution and Maintenance of Solely Owned Collaboration Patents. 

  

	9.6	Defense of Third Party Infringement Claims. If the Product becomes the subject of a Third Party’s claim or assertion of infringement of a Patent relating to Development, Manufacture or Commercialization of
the Product in the Field in the Territory (each, an “Infringement Claim”), the Party first having notice of the claim or assertion shall promptly notify the other Party, and the Parties shall promptly confer to consider the claim or
assertion and the appropriate course of action. Unless the Parties otherwise agree in writing, Piramal Imaging SA shall have the right to defend any Infringement Claim using Commercially Reasonable Efforts, and AC Immune shall reasonably assist
Piramal Imaging SA and cooperate in any such litigation at Piramal Imaging SA’s request and expense. Piramal Imaging SA shall keep AC Immune reasonably informed with respect to the progress of any such litigation. Piramal Imaging SA shall not
enter into any settlement of any claim described in this Section 9.6 that adversely affects AC Immune’s rights and interests without AC Immune’s written consent, which consent shall not be unreasonably conditioned, withheld or
delayed. 

  

	9.7	 Enforcement; Patent Challenge. Subject to the provisions of this Section 9.7, in the event that a Party reasonably believes that any AC
Immune Tau Protein Imaging Patent or Collaboration Patent is being infringed by a Third Party in the Field or is subject to a declaratory judgment action arising from such infringement (“Declaratory Judgment”) or becomes aware of
any actual or threatened challenge by a Third Party with respect to the scope, validity or enforceability of any such Patent in the Territory (“Third Party Challenge”), such Party shall promptly notify the other Party. In such
event, Piramal shall have the sole right (but not the obligation) to enforce such Patents with respect to such infringement, to defend any such Declaratory Judgment or Third Party Challenge (an “Enforcement Action”), at Piramal
Imaging SA’s expense and using Commercially Reasonable Efforts. AC Immune shall have the right to join any such Enforcement Action at its own expense. If Piramal Imaging SA does not bring an Enforcement Action within [*****] days after
notification after the Declaratory Judgment or Third Party Challenge, then AC Immune shall have the right to initiate an Enforcement Action against the Third Party. In such event, [*****] shall bear all costs and expenses with respect to any such
Enforcement Action. With respect to AC Immune Tau Protein Imaging Patent or Jointly Owned Collaboration Patents filed by a Party in a country that is not a Patent Filing 

  
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CONFIDENTIAL – 
  

	 	
Country, such Party shall have the sole right (but not the obligation) to enforce and defend such Patents. 

  

	9.8	Recoveries. Any recovery received as a result of any Enforcement Action pursuant to Section 9.7 shall be used [*****] 

ARTICLE 10 

CONFIDENTIALITY 
  

	10.1	Confidentiality; Exceptions. Except to the extent expressly authorized by this Agreement or otherwise agreed by the Parties in writing, during the Term and for [*****] years thereafter, the Parties agree that the
receiving Party shall keep confidential and shall not publish or otherwise disclose or use for any purpose other than as provided for in this Agreement any Confidential Information furnished to it by the other Party pursuant to this Agreement. For
clarity, Confidential Information of a Party shall include all information and materials disclosed by such Party or its designee that (a) if disclosed in writing or other tangible form, is marked as “Confidential,”
“Proprietary” or with similar designation at the time of disclosure, (b) if disclosed verbally or in other intangible form, is indicated upon first disclosure as being confidential or (c) by its nature can reasonably be expected
to be considered Confidential Information by the recipient. Notwithstanding the foregoing, Confidential Information shall not be deemed to include information or materials to the extent that it can be established by written documentation by the
receiving Party that such information or material: 

  

	 	(a)	was already known to or possessed by the receiving Party, other than under an obligation of confidentiality (except to the extent such obligation has expired or an exception is applicable under the relevant agreement
pursuant to which such obligation established), at the time of disclosure; 

  

	 	(b)	was generally available to the public or otherwise part of the public domain at the time of its first disclosure to the receiving Party; 

 

	 	(c)	became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party in breach of this Agreement; 

 

	 	(d)	was independently developed by the receiving Party as demonstrated by documented evidence prepared contemporaneously with such independent development; or 

 

	 	(e)	was disclosed to the receiving Party, other than under an obligation of confidentiality, by a Third Party who had no obligation to the disclosing Party not to disclose such information to others. 

  
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CONFIDENTIAL – 
  

	10.2	Authorized Use and Disclosure. Each Party may use and disclose Confidential Information of the other Party as follows: 

  

	 	(a)	under appropriate confidentiality provisions substantially equivalent to those in this Agreement, in connection with the performance of its obligations or exercise of rights granted to such Party in this Agreement; and

  

	 	(b)	to the extent such disclosure is reasonably necessary in Prosecuting and Maintaining Patents, copyrights and trademarks (including applications therefor) in accordance with this Agreement, prosecuting or defending
litigation, complying with applicable governmental regulations, filing for, conducting Development hereunder, obtaining and maintaining Regulatory Approvals, or otherwise required by Law, the rules of a recognized stock exchange or automated
quotation system applicable to such Party; provided, however, that if a Party is required by Law, the rules of a recognized stock exchange or automated quotation system (collectively, “Securities Laws”) applicable to
such Party to make any such disclosure of the other Party’s Confidential Information it will, except where prohibited by Law or impracticable for necessary disclosures (for example, in the event of medical emergency), give reasonable advance
notice to the other Party of such disclosure requirement and, except to the extent inappropriate in the case of Patent applications, will use its reasonable efforts to secure confidential treatment of such Confidential Information required to be
disclosed. 

  

	10.3	Injunctive Relief. Given the nature of the Confidential Information and the competitive damage that would result to a Party upon unauthorized disclosure, use or transfer of its Confidential Information to any
Third Party, the Parties agree that monetary damages may not be a sufficient remedy for any breach of this Article 10. In addition to all other remedies, a disclosing Party shall be entitled to seek specific performance and injunctive and other
equitable relief as a remedy for any breach or threatened breach of this Article 10. Receiving Party waives its right to post any bond for the injunctive relief in a court of law. 

 

	10.4	Terms of Agreement. The Parties shall treat the existence and material terms of this Agreement as confidential and shall not disclose such information to Third Parties without the prior written consent of the
other Parties or except as provided in Section 10.2 or as provided below. 

  

	10.5	Publications. The Parties recognize that independent investigators, hospitals and universities may be entrusted with the conduct of Clinical Trials of the Product. Such independent investigators, hospitals and
universities are understood to operate in an academic environment and shall be allowed to release information regarding such Clinical Trials of the Product in a manner consistent with academic standards; however, such Third Parties must be strictly
monitored to prevent any adverse effect from premature publication or dissemination of results of the activities hereunder. All such publications and presentations shall be made in a manner and have content consistent with the publication strategy
developed by the JSC (the “Publication Strategy”). The following shall apply with respect to any publications and presentations: 

  
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CONFIDENTIAL – 
  

	 	(a)	either Party, its employees or consultants wishing to make a scientific or medical publication that contains Confidential Information of the other Party (the “Reviewing Party”) shall, to the extent
practicable, deliver to the Reviewing Party a copy of the proposed written publication or an outline of an oral disclosure at least [*****] days prior to submission for publication or presentation; 

 

	 	(b)	the Reviewing Party shall have the right to require a delay up to [*****] days in publication or presentation in order to enable Patent applications protecting each Party’s rights in such Confidential Information
to be filed; 

  

	 	(c)	each Party shall have the right to prohibit disclosure of any of its Confidential Information in any such proposed publication or presentation; 

 

	 	(d)	each Party will consider in good faith any reasonable comments provided by the other Party with respect to such publications or presentations; 

 

	 	(e)	each Party will each comply with standard academic practice regarding authorship of scientific publications and recognition of contribution of other parties in any publications; and 

 

	 	(f)	Piramal shall have the right to prohibit any such publication or presentation by AC Immune in the event it is inconsistent with the Publication Strategy or Piramal’s commercial strategy with respect to the Product.

 Notwithstanding the foregoing, except with respect to including Compound structures in any patent filings, AC Immune shall not publish,
present or otherwise disclose Compound structures until the earlier of (i) publication by the patent office of the Patent on such Compound structure, (ii) [*****] months after the Effective Date, or (iii) upon mutual consent of both
parties. 
  

	10.6	Publicity. 

  

	 	(a)	Press Releases. Except as otherwise mutually agreed by the Parties or as required by applicable Law or the rules of any stock exchange, no Party shall issue or cause the publication of any other press release or
public announcement with respect to the transactions contemplated by this Agreement without the express prior approval of the other Party, which approval shall not be unreasonably withheld or delayed; provided, however, that each Party
may make any public statement in response to questions by the press, analysts, investors or those attending industry conferences or financial analyst calls, or issue press releases, so long as any such public statement or press release is not
inconsistent with prior public disclosures or public statements approved by the Parties pursuant to this Section 10.6 and which do not reveal non-public information about the other Party. 

 

	 	(b)	Required Disclosures. With respect to complying with the disclosure requirements of Securities Laws applicable to a Party, the Parties shall consult with each other concerning which terms of this Agreement shall
be requested to be redacted in any public disclosure of the Agreement by the agency, and each Party 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	shall seek confidential treatment by the agency in public disclosure of the Agreement by the agency for all sensitive commercial, financial and technical information, including any dollar amounts set forth herein.

 ARTICLE 11 

TERM AND TERMINATION 
  

	11.1	Term. This Agreement is effective as of the Effective Date and, unless earlier terminated pursuant to the other provisions of this Article 11, shall continue in full force and effect until the date of expiration
of the last to expire Royalty Term. 

  

	11.2	Termination. 

  

	 	(a)	Breach. Either Party may terminate the Agreement, in its entirety or on a country by country basis, at any time upon an uncured material default of the other Party in the fulfillment of its obligations under or
in connection with this Agreement by giving written notice to the other Party specifying the nature of the default not less than [*****] days prior to the date the non-defaulting Party intends to terminate the Agreement. If such default has been
cured by such defaulting Party within such [*****] day period, no such termination shall occur. If such default has not been cured by the defaulting Party within such [*****] day period, then the non-defaulting Party shall be entitled to terminate
this Agreement with immediate effect upon delivery to the defaulting Party of a written notice terminating the Agreement; provided, however, that if the Party accused of defaulting notifies the accusing Party in writing (i) within
such [*****] day cure period, that the accused Party disputes that it is in default, or (ii) within [*****] days after delivery of a termination notice for failure to cure a default, that the accused Party contends it cured such default, then
in either such case no such termination shall become effective until (A) a final, binding determination pursuant to Article 14 (Binding Arbitration) that the accused Party was in default and failed to cure such default during the [*****] day
cure period, and (B) the accusing Party’s delivery to the accused Party, after such determination, of a written notice terminating the Agreement. 

  

	 	(b)	Insolvency. Either Party may terminate the Agreement if the other Party becomes insolvent, makes a voluntary or involuntary general assignment of its assets for the benefit of creditors, a petition in bankruptcy
is filed by or against the other Party and is not dismissed in [*****] days, or a receiver or trustee is appointed for all or any part of the other Party’s property. 

 

	 	(c)	Termination by Piramal Without Cause. Piramal shall have the right to terminate this Agreement without cause at any time after the first [*****] months from the Effective Date of this Agreement upon [*****]
months prior written notice. 

  

	11.3	Consequences of Termination. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	(a)	Effect of Termination by Piramal Without Cause. Upon termination by Piramal without cause pursuant to Section 11.2(c), the rights and licenses granted by AC Immune to Piramal shall terminate in their
entirety on the effective date of termination. All rights granted to Piramal shall automatically revert back to AC Immune. In order for AC Immune to decide whether or not to continue Development and Commercialization of Product(s), Piramal will
provide the necessary documentation (i.e., clinical trial protocols, clinical trial reports and any filings with Regulatory Authorities) concerning the results obtained by Piramal in Piramal’s Development efforts. If AC Immune elects to
continue Development and Commercialization of the Product, Piramal shall transfer all Regulatory Approvals and Regulatory Materials, all clinical study reports and protocols, Manufacturing processes and all other relevant Product data necessary for
AC Immune to continue Development and Commercialization of Product(s). Piramal shall grant to AC Immune (i) a non-exclusive license under Piramal Background IP solely to the extent required and necessary for AC Immune to continue the
Development and Commercialization of the Product as the Product existed at the time of termination of this Agreement, and (ii) an exclusive license under the Collaboration IP Controlled by Piramal (with right to sublicense) in order to allow
such Development and Commercialization of the Product, with such license royalty bearing at the following royalty rates: [*****] The Parties shall negotiate the definitive license in good faith, taking into the account the stage of Development or
Commercialization of Product at the time of Piramal’s termination. Furthermore, Piramal shall not assert any rights and claims against AC Immune, its licensees and customers to the extent the Product is developed and/or commercialized by them.

  

	 	(b)	Effect of Termination by AC Immune for Breach by Piramal. Upon termination by AC Immune for uncured breach by Piramal the effects are the same as set forth in Section 11.3(a) hereinabove, and AC Immune shall
be entitled to seek remedies and to claim damages. 

  

	 	(c)	Effect of Termination by Piramal for Breach by AC Immune. Upon termination by Piramal for uncured breach by AC Immune or insolvency of AC Immune, upon written notice from Piramal to AC Immune: (i) the
licenses granted by AC Immune to Piramal in Section 3.1, and (ii) the payment obligations, reporting and audit rights in Article 8, in each case shall continue in full force and effect in accordance with the terms therein, with Piramal
agreeing to use Commercially Reasonable Efforts to itself or through its Affiliates or sublicensees Commercialize the Product in the Field in the Territory, and Piramal shall be entitled to seek remedies and to claim damages with respect to AC
Immune’s uncured breach. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	(d)	Accrued Obligations. Expiration or termination of this Agreement for any reason shall not release any Party of any obligation or liability which, at the time of such expiration or termination, has already accrued
or which is attributable to a period prior to such expiration or termination. 

  

	 	(e)	Ancillary Agreements. Unless otherwise agreed in writing by the Parties, the termination of this Agreement shall cause the automatic termination of all ancillary agreements referenced in Sections 6.2 [*****] and
6.3 (Supply of [*****]). 

  

	 	(f)	Non-Exclusive Remedy. Notwithstanding anything herein to the contrary, termination of this Agreement by a Party shall be without prejudice to other remedies such Party may have at law or equity.

  

	 	(g)	Survival. The following provisions shall survive expiration or termination of this Agreement and continue to be enforceable: Article 10 (Confidentiality), Article 13 (Indemnification, Insurance and Liability).
Article 14 (Dispute Resolution), and Article 15 (Miscellaneous); and Sections 8.5(c) (Royalty Term) to the extent applicable, 9.1 (Ownership), 9.4 (Abandonment of Prosecution and Maintenance) solely with respect to the Jointly Owned Collaboration
IP, and 11.3 (Consequences of Termination). 

 ARTICLE 12 

REPRESENTATIONS AND WARRANTIES 
  

	12.1	Representations, Warranties and Covenants By Both Parties. Each Party hereby severally represents, warrants and covenants to the other Party: 

 

	 	(a)	it is duly organized and validly existing under the laws of the jurisdiction of its incorporation or continuance, as the case may be, and has full corporate power and authority to enter into this Agreement and to carry
out the provisions hereof; 

  

	 	(b)	it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the individual executing this Agreement on its behalf has been duly authorized to do so by all requisite
corporate action; 

  

	 	(c)	this Agreement is legally binding upon it and enforceable in accordance with its terms; 

  

	 	(d)	the execution, delivery and performance of this Agreement by it does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate, any
material Applicable Law; 

  

	 	(e)	it has not granted, and shall not grant during the Term, any right to any Third Party which would conflict with the rights granted to the other Party hereunder; 

 

	 	(f)	it is not aware of any action, suit or inquiry or investigation instituted by any Person which questions or threatens the validity of this Agreement; and 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	(g)	no consent or approval from any Third Party (including any governmental or administrative body or court) is necessary to consummate this Agreement or, to its knowledge, to conduct the activities contemplated hereunder.

  

	12.2	AC Immune Representations, Warranties and Covenants. AC Immune hereby represents and warrants that as of the Effective Date: · 

 

	 	(a)	To its knowledge it does not own or otherwise control any Patents or Know-How other than the AC Immune Background IP and AC Immune Tau Protein Imaging IP that would be necessary for Piramal to exercise its rights under
this Agreement, including to make, use, sell and import Products in the Field in the Territory; 

  

	 	(b)	it solely owns all right, title and interest in, to and under the AC Immune Tau Protein Imaging Patents listed on Exhibit A and has not licensed the AC Immune Tau Protein Imaging Patents in the Field with respect
to a PET Agent product to any Affiliate or any Third Party; 

  

	 	(c)	it has full legal rights and authority to grant the licenses and rights under the AC Immune Tau Protein Imaging IP and AC Immune Background IP granted under this Agreement and has not assigned, transferred, conveyed or
licensed its right, title and interest in the AC Immune Tau Protein Imaging IP or AC Immune Background IP, including in any manner inconsistent with such license grant or the other terms of this Agreement; 

 

	 	(d)	there is no pending litigation or, to the best of AC Immune’s knowledge, written threat of litigation that has been received by AC Immune (and has not been resolved by taking a license or otherwise), which alleges
that AC Immune’s activities with respect to the AC Immune Tau Protein Imaging IP or AC Immune Background IP have infringed or misappropriated any of the intellectual property rights of any Third Party; and 

 

	 	(e)	to the best of AC Immune’s knowledge, the making, using, selling, or importing of Compounds claimed in the AC Immune Tau Protein Imaging IP and AC Immune Background IP as contemplated by this Agreement does not
infringe any patent rights or misappropriate any other intellectual property owned by a Third Party. 

  

	12.3	Disclaimer. EXCEPT AS OTHER WISE EXPRESSLY SET FORTH IN SECTIONS 12.1 AND 12.2, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND PARTICULARLY THAT PRODUCTS
WILL BE SUCCESSFULLY DEVELOPED HEREUNDER, AND IF PRODUCTS ARE DEVELOPED, WITH RESPECT TO SUCH PRODUCTS, AND TO THE EXTENT PERMITTED BY LAW THE PARTIES EXCLUDE ALL IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A
PARTICULAR PURPOSE. 

 ARTICLE 13 

INDEMNIFICATION, INSURANCE AND LIABILITY 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	13.1	Indemnification by AC Immune. AC Immune shall defend, indemnify and hold harmless Piramal and its officers, directors, employees, agents, representatives, successor and assigns (“Piramal
Indemnitee”) from and against any liability or expense (including reasonable legal expenses, costs of litigation and attorneys’ fees), damages, or judgments, whether for money or equitable relief (collectively,
“Losses”) resulting from suits, proceedings, claims, actions, demands, or threatened claims, actions or demands, in each case brought by a Third Party (each, a “Claim”) against a Piramal Indemnitee arising out of:
(a) any negligent act or omission, or willful wrongdoing by AC Immune or its Affiliates in the performance of this Agreement, (b) the failure by AC Immune to comply with any applicable Law, or (c) any breach of any representation or
warranty or covenant of AC Immune under this Agreement, except, in each case, to the extent any such Losses result from the gross negligence or willful misconduct of a Piramal Indemnitee, as applicable, or from the breach of any representation or
warranty or obligation under this Agreement by Piramal. 

  

	13.2	Indemnification by Piramal. Piramal shall defend, indemnify and hold harmless AC Immune and its Affiliates, and its and their officers, directors, employees, agents, representatives, successor and assigns
(“AC Immune Indemnitee”) from and against any and all Losses resulting from Claims, including, bodily, injury, risk of bodily injury, death, property damage and product liability, against an AC Immune Indemnitee arising out of or
relating to, directly or indirectly: (a) any negligent act or omission, or willful wrongdoing by Piramal in the performance of this Agreement, (b) the failure by Piramal to comply with any applicable Law, or (c) any breach of any
representation or warranty or covenant of Piramal under this Agreement; except, in each case, to the extent any such Losses result from the gross negligence or willful misconduct of a AC Immune Indemnitee or from the breach of any representation or
warranty or obligation under this Agreement by AC Immune. 

  

	13.3	Limitations on Indemnification. The obligations to indemnify, defend, and hold harmless set forth in Sections 13.1 and 13.2 shall be contingent upon the Party seeking indemnification (the
“Indemnitee”): (a) notifying the indemnifying Party of a claim, demand or suit within [*****] days of receipt of same; provided, however, that Indemnitee’s failure or delay in providing such notice shall not
relieve the indemnifying Party of its indemnification obligation except to the extent the indemnifying Party is prejudiced thereby; (b) allowing the indemnifying Party and/or its insurers the right to assume direction and control of the defense
of any such claim, demand or suit; (c) using its best efforts to cooperate with the indemnifying Party and/or its insurers, at the indemnifying Party’s expense, in the defense of such claim, demand or suit; and (d) agreeing not to
settle or compromise any claim, demand or suit without prior written authorization of the indemnifying Party. The Indemnitee shall have the right to participate in the defense of any such claim, demand or suit referred to in this Section utilizing
attorneys of its choice, at its own expense, provided, however, that the indemnifying Party shall have full authority and control to handle any such claim, demand or suit. 

 

	13.4	 Limitation on Liability. In no event shall any Party be liable to the other Party for any indirect, special, incidental, exemplary or
consequential damages of any kind arising out of or in connection with this Agreement, however caused and on any theory of liability 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	(whether in contract, tort (including negligence), strict liability or otherwise), even if such Party was advised or otherwise aware of the likelihood of such damages. The limitations set forth in this Section 13.4
shall not apply with respect to (a) the Party’s indemnification obligations under Sections 13.1 and 13.2, as applicable, (b) breach of Article 10, or (c) intentional misconduct of a Party. Nothing in this Section 13.4 shall
exclude a Party’s liability for death or injury caused by that Party’s negligence, or fraud or fraudulent misrepresentation. 

  

	13.5	Insurance. During the Term and for a period of [*****] years after the Term, each Party shall obtain and/or maintain, at its sole cost and expense, insurance policies, including product liability insurance,
adequate to cover its obligations hereunder and which are consistent with normal business practices of prudent companies similarly situated. 

ARTICLE 14 
 DISPUTE
RESOLUTION 
  

	14.1	General. Any controversy, claim or dispute arising out of or relating to this Agreement shall be settled, if possible, through good faith negotiations between the Parties. If, however, the Parties are unable to
settle such dispute after good faith negotiations, the matter shall be referred to the executive officers to be resolved by negotiation in good faith as soon as is practicable but in no event later than [*****] days after referral.

  

	14.2	Failure of Executive Officers to Resolve Dispute. If the executive officers are unable to settle the dispute after good faith negotiation in the manner set forth above, which matter is not a subject for which one
of the Parties has final decision making authority pursuant to Section 2.3(c), the matter (a) shall be resolved in accordance with Section 14.3, and (b) either Party may seek injunctive or other equitable relief in any court in
any jurisdiction where appropriate. 

  

	14.3	Binding Arbitration. Matters under Section 14.2 which are to be resolved through binding arbitration shall be resolved through binding arbitration in London, United Kingdom administered by the International
Chamber of Commerce (“ICC”) pursuant to the arbitration rules of the ICC then in effect (the “Rules”). The language of the arbitration (including all evidence and submissions) shall be in English. 

 

	14.4	Arbitrators. There shall be [*****] arbitrator; provided that if either Party requests, the arbitration shall be conducted by a panel of [*****] arbitrators. Each arbitrator shall have experience in the
pharmaceutical business. In the case of a sole arbitrator, the Parties shall attempt jointly to select such arbitrator within [*****] days after notice of arbitration is given. If the Parties cannot reach an agreement regarding the sole arbitrator
within that time, ICC shall appoint the sole arbitrator. In the case of [*****] arbitrators, each Party shall appoint [*****] arbitrator meeting the foregoing criteria by written notice to the other Party and the [*****] Party-appointed arbitrators
shall select the [*****] arbitrator within [*****] days of their appointment. If the Party-appointed arbitrators are unable to agree upon the third arbitrator or if either Party fails to appoint a Party-appointed arbitrator within [*****] days after
notice of arbitration is given, the remaining arbitrator(s) shall be appointed by ICC. 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	14.5	Judgment. Judgment upon the opinion rendered by such arbitrators shall be binding on the Parties and may be entered by any court having jurisdiction thereof. 

 

	14.6	Injunctive Relief. Either Party may apply to the arbitrators for interim injunctive relief (including a temporary restraining order or preliminary injunction) until the arbitration award is rendered or the
controversy is otherwise resolved. Nothing in this Agreement shall prevent either Party from seeking provisional measures, including a temporary restraining order or preliminary injunction, from any court of competent jurisdiction, and any such
request shall not be deemed incompatible with the agreement to arbitrate or a waiver of the right to arbitrate. 

  

	14.7	Award. The written decision of the arbitrators shall state the panel’s findings of material facts and the grounds for its conclusions and shall be final, conclusive and binding on the Parties and enforceable
by any court of competent jurisdiction. The arbitrators shall be required to comply with, and their award shall be limited by, any express provisions of this Agreement relating to damages or the limitation thereof. 

 

	14.8	Costs. Each Party shall bear its own costs and expenses (including legal fees and expenses) relating to the arbitration proceeding, except that the fees of the arbitrators and other related costs of the
arbitration shall be shared equally by the Parties, unless the arbitration panel determines that a Party has incurred unreasonable expenses due to vexatious or bad faith positions taken by the other Party, in which event the arbitration panel may
make an award of all or any portion of such expenses so incurred. 

  

	14.9	Confidentiality. Except to the extent necessary to confirm an opinion or as may be required by applicable Law, neither Party nor any arbitrator may disclose the existence, content, or results of an arbitration
without the prior written consent of both Parties. 

  

	14.10	Patent Disputes. Any dispute, controversy or claim relating to the scope, validity, enforceability or infringement of any Patent relating to the Products shall be submitted to a court of competent jurisdiction in
the country in which such Patent exists. 

 ARTICLE 15 

MISCELLANEOUS 
  

	15.1	Governing Law. This Agreement and any non-contractual obligations arising out of or in connection with it shall be governed by and interpreted in accordance with the laws of England and Wales without regard to
conflict of law principles thereof. 

  

	15.2	 Compliance with Laws. Each Party shall conduct its activities under this Agreement in accordance with Law and good business practices.
Furthermore, each Party represents, warrants and agrees that it has been at all times and will continue to be in compliance with all potentially applicable anti-bribery and anti-corruption laws, including the U.S. Foreign Corrupt Practices Act of
1977 and the U.K.’s Bribery Act 2010. Each party represents, warrants and agrees that no bribes, payments, kickbacks, gifts, hospitality, donations, loans, or anything of value have been or will be made or received, offered, promised, or
authorized, directly or indirectly, to improperly influence any act or decision of any person 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	
or entity, induce any person or entity to do or omit to do any act in violation of any person’s or entities’ lawful duties, or secure any improper advantage. 

 

	15.3	Assignment of Rights and Obligations. 

  

	 	(a)	General Rule. This Agreement and its rights or obligations may not be assigned or otherwise transferred by either Party without the prior written consent of the other Party. 

 

	 	(b)	Assignment in Case of a Change of Control and to Affiliates. Notwithstanding Section 15.3(a), either Party may, even without the consent of the other Party, assign this Agreement or any of its rights or
obligations (i) to any Affiliate, or (ii) in connection with a Change of Control; provided, however, that such Party’s rights and obligations under this Agreement shall be assumed in writing by its successor in interest
in any such transaction and shall not be transferred separate from all or substantially all of its other business assets, including those business assets that are the subject of this Agreement. 

 

	15.4	Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of
the Agreement. 

  

	15.5	Force Majeure. Except with respect to payment of money, no Party shall be liable to the other Party for failure or delay in the performance of any of its obligations under this Agreement for the time and to the
extent such failure or delay is caused by earthquake, riot, civil commotion, war, terrorist acts, strike, flood, or governmental acts or restriction, or other cause that is beyond the reasonable control of the respective Party (“Force
Majeure”). The Party affected by such Force Majeure will provide the other Party with full particulars thereof as soon as it becomes aware of the same (including its best estimate of the likely extent and duration of the interference with
its activities), and will use Commercially Reasonable Efforts to overcome the difficulties created thereby and to resume performance of its obligations as soon as practicable. If the performance of any such obligation under this Agreement is delayed
owing to an event of Force Majeure for any continuous period of more than [*****] days, the Parties will consult with respect to an equitable solution, including the possibility of the termination of this Agreement. 

 

	15.6	Representation by Legal Counsel. Each Party hereto represents that it has been represented by legal counsel in connection with this Agreement and acknowledges that it has participated in the drafting hereof. In
interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption shall exist or be implied against the Party which drafted such terms and provisions. 

 

	15.7	 Notices. Any notice, request, delivery, approval or consent required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been sufficiently given if delivered in person, transmitted by facsimile (receipt verified) or by express courier service (signature required) or [*****] days after it was sent by registered letter, return receipt requested
(or its equivalent), provided that no postal strike or other disruption is then in effect or comes into effect within [*****] days after such mailing, to 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	
the Party to which it is directed at its address or facsimile number shown below or such other address or facsimile number as such Party will have last given by notice to the other Party.

  

			
	 If to Piramal Imaging:
	  	Piramal Imaging SA
		  	Route de l’Ecole 13
		  	1753 Matran
		  	Switzerland
		  	Attention:
		  	Telephone:
		  	Facsimile:
		
		  	Piramal Imaging Ltd
		  	23, Science Park
		  	Cambridge-CB4 0EY
		  	United Kingdom
		  	Attention:
		  	Telephone:
		  	Facsimile:
		
	 With a copy to:
	  	Piramal Imaging GmbH
		  	Tegeler Straße 6-7
		  	13353 Berlin
		  	Germany
		  	Attention:
		  	Telephone:
		  	Facsimile:
		
	 If to AC Immune:
	  	AC Immune SA
		  	EPFL Innovation Park
		  	Building B
		  	1015 Lausanne
		  	Switzerland
		  	Attention:
		  	Telephone:
		  	Facsimile:

  

	15.8	Entire Agreement. The Parties hereto acknowledge that this Agreement, together with the Exhibits and Appendices attached hereto, set forth the entire agreement and understanding of the Parties hereto as to the
subject matter hereof, and supersedes all prior and contemporaneous discussions, agreements and writings in respect. Except as required by statute, no terms shall be implied (whether by custom, usage or otherwise) into this Agreement. Each Party:

  

	 	(a)	 acknowledges that, in agreeing to enter into this Agreement, and save for any representation, undertaking or warranty contained in this Agreement, it
has not relied on any express or implied representation, warranty, draft agreement, undertaking, promise collateral contract or other assurance or arrangement of any 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	
kind whether or not in writing made by or on behalf of any other party at any time before the signature of this agreement; and 

 

	 	(b)	waives all rights and remedies which, but for this subclause, might otherwise be available to it in respect of any such express or implied representation, warranty, collateral contract or other assurance.

 Nothing in this subclause limits or excludes any liability for fraud. 

 

	15.9	Amendment. No amendment, modification or supplement of any provision of this Agreement shall be valid or effective unless made in writing and signed by a duly authorized officer of each Party. 

 

	15.10	Waiver. No provision of the Agreement shall be waived by any act, omission or knowledge of a Party or its agents or employees except by an instrument in writing expressly waiving such provision and signed by a
duly authorized officer of the waiving Party. The waiver by any of the Parties of any breach of any provision hereof by another Party shall not be construed to be a waiver of any succeeding breach of such provision or a waiver of the provision
itself. 

  

	15.11	Severability. lf any clause or portion thereof in this Agreement is for any reason held to be invalid, illegal or unenforceable, the same shall not affect any other portion of this Agreement, as it is the intent
of the Parties that this Agreement shall be construed in such fashion as to maintain its existence, validity and enforceability to the greatest extent possible. In any such event, this Agreement shall be construed as if such clause of portion
thereof had never been contained in this Agreement, and there shall be deemed substituted therefor such provision as will most nearly carry out the intent of the Parties as expressed in this Agreement to the fullest extent permitted by applicable
Law. 

  

	15.12	Relationship of the Parties. The Parties agree that the relationship of Piramal and AC Immune established by this Agreement is that of independent contractors. Furthermore, the Parties agree that this Agreement
does not, is not intended to, and shall not be construed to, establish an employment, agency, partnership or any other relationship. Except as may be specifically provided herein, no Party shall have any right, power or authority, nor shall they
represent themselves as having any authority to assume, create or incur any expense, liability or obligation, express or implied, on behalf of any other Party, or otherwise act as an agent for any other Party for any purpose. 

 

	15.13	 Interpretation. The captions and headings to this Agreement are for convenience only, and are to be of no force or effect in construing or
interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections, Exhibits or Appendices shall refer to the particular Articles, Sections, Exhibits or Appendices of or to this Agreement and
references to this Agreement include all Exhibits and Appendices hereto. Unless context otherwise clearly requires, whenever used in this Agreement: (a) the words “include” or “including” shall be construed as incorporating,
also, “but not limited to” or “without limitation;” (b) the word “notice” shall mean notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written
communications contemplated under this Agreement; (c) the word “hereof,” 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

	 	“herein,” “hereby” and derivative or similar word refers to this Agreement (including any Exhibits); (d) the word “or” shall have its inclusive meaning identified with the phrase
“and/or;” (e) the words “will” and “shall” shall have the same obligatory meaning; (f) provisions that require that a Party, the Parties or a Committee hereunder “agree,” “consent” or
“approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise; (g) words of any gender include the other gender; and
(h) words using the singular or plural number also include the plural or singular number, respectively. 

  

	15.14	Third Party Beneficiaries. Except for the rights to indemnification provided for a Party’s Indemnitees pursuant to Article 13, all rights, benefits and remedies under this Agreement are solely intended for
the benefit of the Parties (including any successor in interest or permitted assigns), and except rights to indemnification expressly provided pursuant to Article 13, no Third Party shall have any rights whatsoever to (a) enforce any obligation
contained in this Agreement (b) seek a benefit or remedy for any breach of this Agreement, or (c) take any other action relating to this Agreement under any legal theory, including but not limited to, actions in contract, tort (including
but not limited to negligence, gross negligence and strict liability), or as a defense, setoff or counterclaim to any action or claim brought or made by the Parties. Without limiting the foregoing, a person who is not a Party to this Agreement may
not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999. 

  

	15.15	Counterparts. This Agreement may be executed in any number of counterparts, each of which need not contain the signature of more than one Party but all such counterparts taken together shall constitute one and
the same agreement. Any signature page delivered by facsimile or electronic image transmission shall be binding to the same extent as an original signature page. 

[Signature page follows] 

  
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REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL 

HAS BEEN FILED SEPARATELY WITH THE COMMISSION. 

CONFIDENTIAL – 
  

 IN WITNESS WHEREOF, the Parties hereto have executed this
Agreement by their duly authorized representatives as of the dates set forth below. 
  

									
	Date:	 	 May 9, 2014
	 		 	By:	 	 May 9, 2014

			
	Piramal Imaging SA	 		 	AC Immune SA
				
	By:	 	 /s/ L. Dinkelborg
	 		 	 /s/ A. Pfeifer

	Name:	 	L. Dinkelborg	 		 	Name:	 	A. Pfeifer
	Function:	 	Director of the board	 		 	Function:	 	CEO
					
	Date:	 	 May 09, 2014
	 		 	By:	 	 May 09, 2014

			
	Piramal Imaging SA	 		 	AC Immune SA
				
	By:	 	 /s/ Rajesh Laddha
	 		 	 /s/ A. Muhs

	Name:	 	Rajesh Laddha	 		 	Name:	 	A. Muhs
	Function:	 	Director	 		 	Function:	 	CSO

 Exhibits: 
 Exhibit A
– AC Immune Tau Protein Imaging 
 Patents 
 Exhibit B
– Initial Development Plan 
 Appendices: 

Appendix 1 – Selection Criteria 
 Appendix 2 – Patent
Filing Country 
 Appendix 3 – Research Plan 

  
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 EXHIBIT A 

AC IMMUNE TAU PROTEIN IMAGING PATENTS 

[*****] 

  
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 Exhibit B 

INITIAL DEVELOPMENT PLAN 
  

			
	 Task
	  	Time (months)
	 [*****]
	  	

 [*****] 
  

			
	 Outcome
	  	Design
	 [*****]
	  	[*****]

 [*****] 

  
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CONFIDENTIAL – 
  

 [*****] 

  
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CONFIDENTIAL – 
  

 APPENDIX 1 

SELECTION CRITERIA 
  

			
	 CATEGORY
	  	CRITERIA
	 [*****]
	  	[*****]

  
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 APPENDIX 2 

PATENT FILING COUNTRY 
 [*****] 

  
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 APPENDIX 3 

Initial Research Plan  

Profiling of Lead Candidates 
  

			
	 Task
	  	Time (months)*
	 [*****]
	  	[*****]
	 Candidate(s) selection
	  	
	 [*****]
	  	[*****]

  

	*	[*****] 

 [*****] 

  
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 [*****] 

  
 Page 47

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