Document:

EX-10.5

 Exhibit 10.5 

The English version of this document is a translation of the original version in Chinese. In the event of any discrepancies between the
Chinese and English versions, the Chinese version shall prevail. 
 Taiwan Liposome Company, Ltd. 

2017 Regulations on the Issuance of New Employee Restricted Stock 
  

	Article 1:	 Purpose of the Issuance 

These 2017 Regulations on the Issuance of New Employee Restricted Stock (hereinafter referred to as the
“Regulations”) of the Company are established pursuant to the applicable laws and regulations including Article 267, Paragraph 8 of the Company Act and the “Regulations Governing the Offering and Issuance of Securities by Securities
Issuers” promulgated by the Financial Supervisory Commission (hereinafter referred to as the “Competent Authority”) for the purpose of attracting and retaining professionals needed by the Company as well as building up employee
cohesion and fostering a sense of belonging to the Company so as to jointly promote the interests of the Company and of its shareholders as a whole. 
  

	Article 2:	 Issuance Period 

The Company is allowed to register with the Competent Authority for the issuance of the shares at one time or at multiple
times within one year from the date of the shareholder resolutions. Within one year of the date on which the Company receives the notification(s) from the Competent Authority indicating that the registration(s) has become effective, the Board may
issue the shares in one or more tranches, and the Board shall authorize the Chairman of the Board to determine the actual date(s) on which the shares are issued (the “Record Date of Capital Increase”). 

 

	Article 3:	 Qualification Requirements for Employees and the Number of Shares an Employee Can Subscribe for

  

	 	1.	 Eligible employees are full-time employees of the Company on the actual issuance date, or those otherwise
eligible in accordance with regulations and rules updated by the Competent Authority prior to the issuance. For the purposes of these Regulations, a full-time employee shall mean an employee whose regular work schedule is seven hours and thirty
minutes per day and five days per week. 

  

	 	2.	 After taking into consideration factors such as grade, readiness, overall contributions and development
potential of employees, the eligible employees and the number of shares each employee is allowed to subscribe to shall be determined by the President, then be presented to the Chairman of the Board for approval, and shall thereafter be approved by a
majority vote at a Board Meeting at which two-thirds or more of the directors are present. However, an employee who serves as a managerial officer or a director who serves as an employee concurrently shall be reported to the Remuneration Committee
for prior approval before the issuance of the shares. 

  

	 	3.	 The cumulative number of shares an employee can subscribe for by exercising the employee stock options of the
Company issued under Article 

	 	 
56-1, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, in combination with the cumulative number of shares of New Employee Restricted Stock
granted to such employee, shall not exceed 0.3% of the total issued shares of the Company. In addition, the sum of the above number plus the cumulative number of shares such employee can subscribe for by exercising the stock options of the Company
issued under Article 56, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, shall not exceed 1% of the total issued shares of the Company. However, the percentage limitation of the cumulative
number of employee stock options and shares of New Employee Restricted Stock granted to an employee would not apply, if an ad hoc approval from the competent authorities governing the business of the Company in the central government has been
obtained. In the event that the relevant regulations are amended by the Competent Authority, the number of shares of the New Employee Restricted Stock that an employee may subscribe for set forth in this paragraph shall be updated in compliance with
the amended regulations and the requirements imposed by the Competent Authority. 

  

	Article 4:	 Total Number of Shares of New Employee Restricted Stock to be Issued 

The total number of shares of New Employee Restricted Stock to be issued hereunder shall be 550,000 ordinary shares with a
face value of NT$10 per share and the total amount shall be NT$5,500,000. 
  

	Article 5:	 Conditions of the Issuance 

 

	 	1.	 Issue Price: NT$10 per share. 

 

	 	2.	 Vesting Conditions 

 

	 	A.	 Following the subscription of New Employee Restricted Stock (i.e. the “Record Date of Capital
Increase”), if an employee still serves the Company by the end of each vesting period set forth below and has not violated his/her employment agreement during that period, he/she would meet the vesting condition. 

 

	 	(a)	 20% of the New Employee Restricted Stock would become vested after the employee has worked for one year after
the subscription date thereof, provided that the employee has not violated the employment agreement during the first year. 

  

	 	(b)	 Another 30% of the New Employee Restricted Stock would become vested after the employee has worked for two
years after the subscription date thereof, provided that the employee has not violated the employment agreement during the second year. 

  

	 	(c)	 Another 50% of the New Employee Restricted Stock would become vested after the employee has worked for three
years after the subscription, provided that the employee has not violated the employment agreement during the third year. 

  
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	 	B.	 In the event that an employee violates his/her employment agreement, the Company is entitled to buy back from
the employee the shares of New Employee Restricted Stock that have not met the vesting conditions during that specific vesting period at the original issue price and cancel them in accordance with applicable laws. 

 

	 	C.	 The aforementioned dates shall be brought forward to the immediately preceding business day if the date in
question is a holiday. 

  

	 	3.	 Type of Issued Shares: New ordinary shares of the Company. 

 

	 	4.	 Unvested or inherited New Employee Restricted Stock shall be handled as follows: 

 

	 	A.	 Voluntary Resignation 

New Employee Restricted Stock subscribed to previously but not yet vested shall be deemed to have not met the vesting
conditions on the resignation date. The Company shall buy back the shares at the original issue price and cancel the shares in accordance with applicable laws. 
  

	 	B.	 Other Termination of Employment (including termination of employment without prior notice, dismissal, and
layoff) 

 With the exception of voluntary resignation as described above, in the event of any other
termination of employment, the New Employee Restricted Stock shall be deemed to have not met the vesting conditions as of the termination date of the employment relationship. The New Employee Restricted Stock subscribed to previously but not yet
vested shall be bought back at the original issue price and canceled by the Company in accordance with applicable laws. 
  

	 	C.	 Leave without Pay and Parental Leave 

New Employee Restricted Stock held by an employee whose application for leave without pay or parental leave was made in
accordance with applicable laws and regulations or due to reasons such as serious illnesses, serious domestic distress, or overseas education and was approved by the Company, shall be deemed to have not met the vesting conditions as of the first day
of leave without pay and parental leave. The New Employee Restricted Stock subscribed to previously but not yet vested shall be bought back at the original issue price and canceled by the Company in accordance with applicable laws. 

 

	 	D.	 Retirement 

New Employee Restricted Stock previously subscribed to but not yet vested shall be deemed to have not met the vesting
conditions as of the date when the retirement becomes effective. The Company shall buy back the shares at the original issue price and cancel the shares in accordance with applicable laws. However, employees who have made extraordinary contributions
to the Company will be exempted from this 

  
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restriction, if prior approval has been obtained from the Board. The Board is hereby authorized to handle unvested New Employee Restricted Stock held by such employees. Under these Regulations,
an “extraordinary contribution” shall have the meaning that, immediately prior to the date that the shares be deemed to have not met the vesting conditions, an employee has not only served the Company for five years consecutively but also
was given the highest rank of A+ for three times or more at annual employee performance reviews. 
  

	 	E.	 Death 

Death as referred to herein excludes deaths caused by work injuries as set forth in Paragraph F of this Article. New Employee
Restricted Stock subscribed to previously but not yet vested shall be deemed to have not met the vesting conditions as of the date of the employee’s death. The Company shall buy back the shares at the original issue price and cancel the shares
in accordance with applicable laws. 
  

	 	F.	 Disability or Death Caused by Work Injury 

In the event that an employee is physically disabled or dies from a work injury and therefore cannot continue his/her
employment or resigns from his/her position, New Employee Restricted Stock subscribed to previously but not yet vested shall be deemed to have not met the vesting conditions as of the date that he/she cannot continue the employment or the
resignation becomes effective. The Company shall buy back the shares at the original issue price and cancel the shares in accordance with applicable laws. However, employees who have made extraordinary contributions to the Company will be exempted
from this restriction, if prior approval has been obtained from the Board. The Board is hereby authorized to handle unvested New Employee Restricted Stock held by such employees. 

 

	 	G.	 Transfer 

In response to the operating needs of the Company, employees may be transferred by the Company to its affiliated companies or
other companies. In this circumstance, the Chairman of the Board may, subject to the vesting conditions set forth in Paragraph 2 of this Article, determine that certain percentage of the unvested New Restricted Employee Shares previously subscribed
to shall become vested. 
  

	 	5.	 The Company shall buy back the New Employee Restricted Stock that fails to meet the vesting conditions at the
original issue price and cancel the shares in accordance with applicable laws (including New Employee Restricted Stock that fails to meet the vesting conditions due to the reasons set forth in preceding paragraphs). However, employees are not
required to repay or return shares and dividends already distributed to the employees. 

  

	 	6.	 In the event that an employee breaches Article 6, Paragraph 2 of the Regulations by terminating or rescinding
his/her authorization to the 

  
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Company, the Company will be entitled to buy back all unvested New Employee Restricted Stock held by such employee at the original issue price and to cancel it in accordance with applicable laws.

  

	Article 6:	 Restricted Rights of Unvested New Employee Restricted Stock 

 

	 	1.	 The rights specified below are restricted until the New Employee Restricted Stock subscribed to under the
Regulations has met its vesting conditions: 

  

	 	A.	 Once being issued, all New Employee Restricted Stock shall be put into a trust immediately. Prior to the
fulfillment of vesting conditions, for whatever reasons or by any means, employees shall not require the trustee to return the New Employee Restricted Stock. 

 

	 	B.	 Except in the case of inheritance, employees shall not sell, pledge, transfer, give to others as a gift,
create an encumbrance on or dispose of in any other way the New Employee Restricted Stock during the vesting period. 

  

	 	C.	 Rights to share dividends distribution and cash dividends distribution: same as the rights attached to other
ordinary shares of the Company. Employees are not required to put share and cash dividends of the New Employee Restricted Stock into a trust. 

  

	 	D.	 Before shares of the New Employee Restricted Stock are vested, rights thereto such as the rights to attend the
shareholders’ meetings of the Company, to make proposals, make comments, or to vote therein, as well as other matters regarding shareholder equities, shall be handled in accordance with the trust custody agreement. 

 

	 	2.	 Upon obtaining subscription rights of New Employee Restricted Stock, the employees are deemed to have agreed
to authorize the Company to execute and revise the trust agreement on their behalf. During the period that the New Employee Restricted Stock is in trust, the Company is authorized to (including but not limited to) negotiate, execute, revise, extend,
rescind, and terminate the trust agreement with the trust institution on behalf of all employees holding the entrusted New Employee Restricted Stock and the Company has the right to give instructions regarding the delivery, use and dispose of the
entrusted New Employee Restricted Stock. 

  

	Article 7:	 Procedures for Subscription to New Shares and Vested Shares 

 

	 	1.	 After the subscription rights of the New Employee Restricted Stock are granted to employees, the Company shall
record the total number of shares to be subscribed by each employee on the Record Date of Capital Increase in the register of members of the Company. New ordinary shares issued by the Company will be delivered by way of book-entry transfer, and the
Company is entitled to put the shares into a trust during the vesting period according to the trust agreement. 

  
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	 	2.	 The Company shall apply for alteration of the corporate registration with respect to the New Employee
Restricted Stock issued under the Regulations. 

  

	Article 8:	 Tax 

Any tax incurred by employees from the grant of New Employee Restricted Stock under the Regulations shall be governed by
applicable R.O.C. laws and regulations. 
  

	Article 9:	 Signing a Contract and Confidentiality 

 

	 	1.	 Upon the completion of relevant legal filing procedures, the department in charge shall notify employees and
request that they execute the “New Employee Restricted Stock Agreement”. An employee will be deemed to have been granted the right to subscription on the date that the company confirms the receipt of the executed agreement and the share
subscription price in full. Employees who do not execute the agreement and pay for the shares within the period given by the Company shall be deemed to have waived their rights to subscribe. 

 

	 	2.	 An employee who has executed the agreement shall abide by the confidentiality clauses therein and shall not
inquire of others about or disclose any information relating to the terms and conditions and the number of New Employee Restricted Stock so subscribed. In the event of a breach, shares of New Employee Restricted Stock granted to such breaching
employee would be deemed to have not met the vesting conditions, and the Company is entitled to buy back the unvested shares from the employee at the original issuance price and cancel them accordingly. 

 

	Article 10:	 Other Important Stipulations 

 

	 	1.	 The Regulations, as well as any revision thereto prior to the issuance, shall be approved by a majority vote
at a Board Meeting at which two-thirds or more of the directors are present, and shall take effect upon approval by the Competent Authority. During the review process, if any revision to the Regulations is required, either due to changes in laws and
regulations or requests made by the Competent Authority, the Chairman of the Board is hereby authorized to make such revision initially and then submit such revision to the Board for ratification. The ratification must take place before the issuance
of New Employee Restricted Stock. 

  

	 	2.	 Matters relating to vesting conditions, such as the number of vested shares and the date on which shares are
allocated to employees, are subject to the announcements to be published by the Company. 

  

	 	3.	 Matters not provided in the Regulations shall be governed by the relevant laws and regulations.

  
 6EX-10.6

 Exhibit 10.6 

The English version of this document is a translation of the original version in Chinese. In the event of any discrepancies between the Chinese and English
versions, the Chinese version shall prevail. 
 Premises Lease Contract 

This lease contract is made by and between: 
 Lessor: Mercuries Life Insurance
Company Ltd. (hereinafter referred to as Party A) 
 Lessee: Taiwan Liposome Company, Ltd. (hereinafter referred to as Party B) 

This lease contract is entered into by both parties, through negotiation, with the following terms: 

Article I             Premises Location, Scope of Use, and Purpose of Use 

	 	1.	Party A leases for Party B’s use the premises at 2nd Floor, No. 3 Yuanqu Street, Nangang District (including public facilities and 20 flat motorcycle parking spaces including Nos. 691, 692, 705, 706, 707, 708,
709, 710, 711, 712, 713, 714, 723, 724, 725, 726, 727, 728, 729, and 730) totaling in area 610.13 ping, 10 flat basement parking spaces including Nos. 124, 125, 126, 157, 158, 159, 187, 188, 189, 190, and two mechanical parking spaces, including
Nos. 1118 and 1119. 

	 	2.	The aforementioned premises are provided to Party B to use as office space and parking spaces. If Party B uses the premises for other purposes without Party A’s consent, Party will be deemed as breaching this
contract. 

 Article II            Lease Term 

	 	1.	The parties agree that the lease term of this contract is from April 1, 2017 to March 31, 2022. 

	 	2.	Party B shall notify Party A in writing three months prior to the lease’s expiration whether or not it intends to continue the lease of these premises. This lease contract will automatically terminate if no renewed
contract is entered into by the parties before the lease’s expiration. 

	 	3.	Party A agrees that Party B has the right of first refusal, under the same terms and conditions offered to other potential lessees, to renew the lease term after it expires. However, if Party B fails to reply in writing
and agree to continue the lease term under the same terms and conditions within 10 business days after receiving written notice from Party A, its right of first refusal is deemed to be waived. 

	 	4.	If Party B continues to use the premises without renewing the contract after the lease’s expiration, this constitutes unlawful occupation. In this case, Party B cannot apply Article 451 of the Civil Code or claim
other objections. 

	 	5.	If any party needs to notarize this lease contract, the other party shall provide necessary support to it. The notarization fees shall be equally borne by both parties. 

 Article III         Rent and Payment Method 

	 	1.	 The parties agree on the rent as below: 

NTD 855,750 per month (including tax and excluding management fees) for the term from April 1, 2017 to March 31, 2020. 

NTD 898,538 per month (including tax and excluding management fees) for the term from April 1, 2020 to March 31, 2022. 

	 	2.	Beginning from the starting date of the lease term, Party B shall pay the applicable building management fees subject to the use scope of the premises, water, electricity and gas fees, as well as other fees generated
from Party B’s lease and business operations. 

	 	3.	 Payment method of the rent: 

Party B shall, within the first 10 days of each month during the lease term, remit at Party B’s own cost the rent payment to the bank account
designated by Party A. Party A’s bank account information is as below: 
 Bank: Cathay United Bank, World Trade Center Branch 

Account: 065030016160 
 Account Name:
Mercuries Life Insurance Company Ltd. 

	 	4.	If the starting day of this lease contract is not the first day of the month, or if the ending day of this lease contract is not the last day of the month, Party B shall, according to the payment method described above,
pay the rent proportionately to the actual lease days. 

	 	5.	The security deposit is NTD 2,445,000 in total, which shall be paid by Party B to Party A on the day the occupation of premises is transferred. There is no need to pay the security deposit when renewing the lease term,
as it has been paid in the previous term. 

 Article IV         Premises Returns and Repair

	 	1.	Both parties agree to hand over the premises at their current condition. After the parties enter into this contract, Party B may carry out construction on or decorate the interior of the premises provided that the
building structure is not affected and this work falls within the basic layout. Additionally, Party B can only commence the construction or interior decoration after obtaining Party A’s consent and approval from the management department of the
building. 

	 	2.	 Party A shall, within a reasonable time period after notified by Party B, repair or maintain wear and tear caused by aging
or other reasons not attributable to Party B, and shall try to minimize impacts on Party B’s normal use of the premises. Party B is responsible to well maintain the premises during daily use. If the leased premises are damaged due to any reason
attributable to Party B, Party B shall, after obtaining party A’s consent, repair the premises on its own cost. Unless otherwise agreed in writing by 

	 	 
Party A, the repaired part shall remain the same size and function as the previous one before the damage. 

	 	3.	Within the lease term, any damages to the premises’ building structure and public facilities shall be repaired by Party A; while lighting and air conditioners shall be installed and periodically maintained by Party
B. All decorations, partitions or fixtures added by Party B shall be repaired and maintained by Party B at its own cost. 

	 	4.	Party B shall, pursuant to the Regulations for Inspecting and Reporting Buildings Public Security, apply for a building public security inspection for the leased premises. In addition, Party B shall apply for a
building firefighting security inspection according to the Fire Services Act and its enforcement rules. If Party B fails to apply for such inspections as required in the regulations set forth above, or the premises are unqualified in the
inspection resulting from Party B’s acts, decorations, partitions, or added fixtures, Party B will be liable for any liabilities thereunder. Party B is responsible at its own cost to deconstruct, alter or improve the premises to comply with
standards provided in the security regulations. 

 Article V          Limitations on Use of the
Premises 

	 	1.	Without Party A’s consent, Party B cannot sublease, assign, or transfer the entirety or a portion of the premises, or otherwise allow others to use the premises, unless the counterparty is Party B’s affiliated
enterprise. 

	 	2.	Unlawful use of the premises by Party B is not permitted, nor is the storage of hazardous items impacting public safety. 

	 	3.	Party B shall not carry on any business contrary to public order and good social customs. 

 Article
VI         Premises Fees & Responsibilities 

	 	1.	Party A shall provide necessary documents to Party B in order to obtain its business registration, but the additional fees shall be borne by Party B. 

	 	2.	All taxes applicable to the premises shall by paid by Party A. 

	 	3.	Party B is responsible for payment of water, electricity and gas fees, building and parking spaces management fees, and other expenses incurred from use or business operation. 

Article VII        Management Agreement 

Party B agrees to abide by the premises’ building management rules. If Party B fails to correct its misconduct after reported or advised by others, Party A is
entitled to apply Article IX of this lease contract. 
 Article VIII       Contract Termination or Lease Term Expiration 

	 	1.	If a party intends to terminate the contract during the lease term, three months’ prior notice in writing to the other party is required before the termination comes into effectiveness. 

	 	2.	At the lease’s termination or expiration, Party A agrees to take back the premises with then current decoration, but Party B shall vacate the premises before returning possession to Party A. If Party B fails to
perform its aforementioned responsibilities, Party A may employ other parties to vacate the premises at Party B’s cost. Party B has no right to raise any objections in this regard, nor claim for moving fee or other fees from Party A

	 	3.	After Party B has returned the premises to Party A according to the preceding paragraph, and has handed over the original security deposit receipt to Party A, the security deposit shall be returned to Party B without
interest. 

	 	4.	During the lease term, if the premises become incapable for use due to reasons not attributable to Party B, Party B is entitled to terminate this contract by notifying Party A in writing. Such termination is not subject
to Paragraph 1 of Article VIII. Party A shall, within seven days following the termination, reimburse undue rent to Party B and return the security deposit in accordance with the preceding paragraph. 

Article IX         Breach of Contract and Consequences 

	 	1.	If Party B delays in paying rent, and still does not pay after notification by Party A and upon expiration of the correction period given by it, Party A will be entitled to terminate this lease contract and deduct the
delinquent rent payment and relevant costs from the security deposit. 

	 	2.	If any party breaches the contract and fails to correct such misconduct after notification by the other party and upon expiration of the correction period given by it, the other party will be entitled to terminate this
lease contract. Additionally, the defaulting party shall compensate the other party with reasonable costs and damages resulted from such default. If Party B breaches the contract, Party B agrees that Party A could deduct its reasonable costs and
damages resulting from such default from the security deposit. If Party A breaches the contract, Party A agrees that Party B can deduct reasonable costs and damages resulting from such default from the rent (including but not limited to the rent
generated during the period where Party A fails to repair or maintain the premises in a timely manner, and thus the premises are not capable for use by Party B). 

	 	3.	 At the lease’s termination or expiration, if Party B is not able to move out and vacate the premises in time due to
reasons not attributable to it, Party A and Party B shall negotiate in good faith and conclude a grace period to allow Party B to move out. If Party B fails to move out and vacate the premises in time due to reasons other than the forgoing scenario,
Party B shall pay, in addition to daily fees equivalent to daily rent, a 

	 	 
penalty equivalent to the daily rent during the same period. In this case, Party A is entitled to dispose of materials left behind by Party B in the premises, and take back all rights in the
Premises. Party B has no right to claim damage compensation or any other rights from Party A. Party B agrees that Party A can deduct, from the security deposit, costs Party A has paid to dispose of materials left behind in the premises by Party B.

	 	4.	Party B is liable for the balance if the security deposit is not sufficient to pay out its debt hereunder. Before Party B pays out its payable fees and compensatory damages to Party A, Party A has a lien in the objects
within the premises. Party B has no right to raise any objections in this regard. Any fees generated from the lien shall also be borne by Party B. 

	 	5.	This lease contract may be notarized for the purpose of enforcing this contract by making it the basis of compulsory enforcement. If any party defaults, the other party may, using this contract as the basis of
enforcement, apply for compulsory enforcement. 

 Article X          Governing Law, Jurisdiction and
Other 

	 	1.	Both parties shall interpret details uncovered in this contract in good faith according to applicable laws of the Republic of China. 

	 	2.	The parties agree that when litigation occurs, the disputes arising from this contract shall be submitted to Taiwan Taipei District Court for the first instance. 

	 	3.	All notices by any party to the other party shall be served to the address provided in this contract. If there are later changes that have not been communicated in written form to the other party, due to inability to
deliver or refusal of acceptance, then the legal date of notice is the first date of postal service. 

	 	4.	This contract is executed with two copies, with each party retaining one, and effective after each party has affixed its seal or signed. 

Parties to the Contract 
 Party A: Mercuries Life Insurance Company Ltd. 

Legal Representative: Hsiang-Chie Chen 
 Address: 3rd Floor, No. 6,
Section 3, Minquan East Road, Zhongshan District, Taipei City 
 Government Uniform Invoice Number: 84443471 

Party B: Taiwan Liposome Company, Ltd. 
 Legal Representative: Chih-Hong Yeh 

Address: 11th Floor-1, No. 3, Yuanqu Street, Nangang District, Taipei City 

Government Uniform Invoice Number: 16176150 
 March 29, 2017

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