Document:

EX-10.10

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT. EACH SUCH
PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH AN ASTERISK [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

Exhibit 10.10 
 EXECUTION
COPY 
 LICENSE AGREEMENT 

BY AND BETWEEN 

CONKWEST, INC. 
 AND

 INTREXON CORPORATION 

February 23, 2010 

 Table of Contents 

 

							
	 		 		Page	 
		
	 ARTICLE 1 . DEFINITIONS
		 	1	  
	 ARTICLE 2 . LICENSE GRANT
		 	5	  
	 2.1
		 License.
		 	5	  
	 2.2
		 Sublicenses.
		 	5	  
	 2.3
		 Transfer of Know-How and NK–92 Supply.
		 	6	  
	 2.4
		 No Additional Rights.
		 	6	  
	 ARTICLE 3 . LICENSE FEES AND MILESTONE PAYMENTS
		 	6	  
	 3.1
		 License Fees.
		 	6	  
	 3.2
		 Milestone Payments.
		 	7	  
	 ARTICLE 4 . ROYALTIES
		 	7	  
	 4.1
		 Royalties.
		 	7	  
	 4.2
		 Non-Redundant Royalties.
		 	7	  
	 4.3
		 Sublicensing Revenues.
		 	8	  
	 ARTICLE 5 . REPORTS
		 	8	  
	 5.1
		 Financial Reports.
		 	8	  
	 5.2
		 Product Reports.
		 	8	  
	 ARTICLE 6 . PAYMENTS
		 	9	  
	 6.1
		 Payments.
		 	9	  
	 6.2
		 Non-U.S. Sales.
		 	9	  
	 6.3
		 Taxes.
		 	9	  
	 6.4
		 Late Payments.
		 	9	  
	 ARTICLE 7 . DATA SHARING AND ACCESS
		 	10	  
	 7.1
		 CONKWEST Information.
		 	10	  
	 7.2
		 Intrexon Information.
		 	10	  
	 ARTICLE 8 . INTELLECTUAL PROPERTY
		 	10	  
	 8.1
		 Prosecution of Licensed Patents.
		 	10	  
	 8.2
		 Infringement by Third Parties.
		 	11	  
	 8.3
		 Infringement of Third Party Intellectual Property.
		 	12	  
	 8.4
		 No Implied License for Infringement of Third Party Rights.
		 	13	  
	 ARTICLE 9 . REPRESENTATIONS, WARRANTIES, covenants, disclaimers
		 	13	  
	 9.1
		 Mutual Warranties.
		 	13	  
	 9.2
		 CONKWEST Warranty.
		 	13	  
	 9.3
		 Disclaimer of Warranties.
		 	14	  
	 9.4
		 Exclusion of Damages.
		 	14	  
	 ARTICLE 10 . INDEMNIFICATION AND INSURANCE
		 	14	  
	 10.1
		 Responsibility and Control.
		 	14	  
	 10.2
		 Mutual Indemnification.
		 	14	  
	 10.3
		 Insurance.
		 	15	  
	 ARTICLE 11 . CONFIDENTIALITY
		 	16	  
	 11.1
		 Undertakings of the Parties.
		 	16	  
	 11.2
		 Disclosure of Agreement.
		 	16	  
	 ARTICLE 12 . TERM AND TERMINATION
		 	17	  
	 12.1
		 Term.
		 	17	  
	 12.2
		 Termination.
		 	17	  
	 12.3
		 Effect of Termination.
		 	17	  

  
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	 ARTICLE 13 . MISCELLANEOUS
		18
	 13.1
		 Independent Contractors.
		18
	 13.2
		 Assignment.
		18
	 13.3
		 Notices.
		18
	 13.4
		 Amendment.
		19
	 13.5
		 Waiver.
		19
	 13.6
		 Counterparts.
		19
	 13.7
		 Descriptive Headings.
		19
	 13.8
		 Governing Law.
		19
	 13.9
		 Severability.
		20
	 13.10
		 Entire Agreement of the Parties.
		20
	 13.11
		 Jointly Prepared.
		20
	 13.12
		 No Third Party Rights.
		20
	 SCHEDULE A
		 Schedule A-1

	 SCHEDULE B
		Schedule B-1

  
 ii 

 EXECUTION COPY 

LICENSE AGREEMENT 

This License Agreement (this “Agreement”) is made and entered into as of February 23, 2010 (the
“Effective Date”), by and between CONKWEST, INC., an Illinois corporation having an offices at 3790 Via De La Valle, Suites 206, San Diego, CA 92014, USA (“CONKWEST”), and INTREXON CORPORATION, a Virginia
corporation, having an office at 1872 Pratt Drive, Blacksburg, Virginia 24060, USA (“Intrexon”). CONKWEST and Intrexon are sometimes referred to herein individually as a “Party” and together as the
“Parties.” 
 Recitals 

WHEREAS, CONKWEST owns or Rightfully Uses NK–92 and certain related Licensed Patents and Know-How and has the right to
grant licenses thereto. 
 WHEREAS, Intrexon desires to obtain both non-exclusive and exclusive licenses to NK–92 and
the related Licensed Patents and Know-How, and CONKWEST is willing to grant such licenses, in each case, subject to the terms and conditions of this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained in this Agreement, and intending to be
legally bound, the Parties agree as follows: 
 ARTICLE 1. DEFINITIONS 

Capitalized terms used in this Agreement shall have the meanings given such terms in this Article 1, or as otherwise
defined in this Agreement. 
 1.1 “Affiliate” means, with respect to a Party, any Person which directly or
indirectly controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” means direct or indirect ownership of more than fifty percent (50%) of the voting securities or the
profits interest of such Person or otherwise has the right to control the policies and decisions of such Person by contract or otherwise. 

1.2 “BLA” means a Biological License Application (or any successor application) for any Licensed Product
filed by Intrexon or its Affiliates with the FDA, or any similar application prescribed by the regulatory authorities in a market other than the United States, for regulatory approval to make and commercially sell such Licensed Product. 

1.3 “Calendar Quarter” means a three-month period ending on
March 31, June 30, September 30 or December 31. 
 1.4 “Calendar Year” means
the twelve (12) month period ending December 31. 
 1.5 “Combination Product” means any product
containing both a component that constitutes a Licensed Product and one or more other components that do not constitute a Licensed Product. 

  

 1.6 “Confidential Information” means, subject to the provisions
of Section 11.1(i)-(vi), proprietary information of the disclosing Party which has commercial value, including, without limitation, trade secrets, know-how, formulas, processes, product ideas, inventions (whether patentable or not),
improvements, copyrightable or patentable materials, schematics, and other technical, business, financial and product development plans, forecasts and strategies. Confidential Information also includes the proprietary information of a Third Party
which the disclosing Party is permitted to provide to the receiving Party hereunder. 
 1.7 “Exclusive
Field” means, collectively, all of the applications of the Licensed Patents, Licensed Materials or Know-How, that are designated by Intrexon as Exclusive Indications for the exclusive use of Intrexon pursuant to the provisions of Attachment
I. 
 1.8 “Exclusive Indication” means [***] applications that constitutes the Exclusive Field. 

1.9 “FDA” means the United States Food and Drug Administration or any successor agency having the
administrative authority to regulate the approval for marketing of new human pharmaceutical and biological products in the United States. 

1.10 “Field of Use” means the use of [***]. For the avoidance of doubt, the Exclusive Field is within the
Field of Use. 
 1.11 “First Commercial Sale” means the first sale of a Licensed Product to a Third Party
following BLA approval of such Licensed Product, or if BLA approval is not required, the first sale of a Licensed Product to a Third Party for cash consideration on an arm-length basis and not under an exemption from BLA approval or other exemption
from regulatory approval for compassionate use or similar purposes. 
 1.12 “GAAP” means generally accepted
accounting principles in the U.S., consistently applied, or such successor accounting standard (e.g., International Financial Reporting Standards) that may be required by an authority of competent jurisdiction and upon which Intrexon bases its
accounting records for all other purposes in general. 
 1.13 “IND” means an Investigational New Drug
Application (or any successor application) for any Licensed Product filed by Intrexon or its Affiliates with the FDA, or any similar application prescribed by the regulatory authorities in a market other than the United States, for approval and
right to proceed to commence human clinical testing with respect to such Licensed Product. If an IND is not required to be filed for a particular Licensed Product, then for purposes of Section 3.2, the IND filing shall be deemed to have
occurred on the first day that Intrexon or its Affiliates receives approval to proceed to commence human clinical testing with respect to such Licensed Product. 

1.14 “Know-How” means any and all written technical and other information, data, methods, technology and
materials of any kind provided to Intrexon pursuant to Section 2.3, regardless of whether patentable and which are not in the public domain, including without limitation trade secrets and other Confidential Information, directly relating to
NK–92 that are owned or Rightfully Used by CONKWEST as of the Effective Date. 

  
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 1.15 “Licensed Materials” means cells provided by CONKWEST to
Intrexon from the NK–92 cell line pursuant to Section 2.3 and any cells or molecules that are replicated, modified or derived by Intrexon therefrom, including progeny of the NK–92 cell line replicated, modified or derived by Intrexon
therefrom. 
 1.16 “Licensed Patents” means the patents and patent applications owned or Rightfully Used by
CONKWEST at any time during the Term which relate directly to NK–92 or are necessary or useful for Intrexon to exercise the License granted to Intrexon under this Agreement, including those listed in Schedule A and any provisional patent
applications, non-provisional applications, divisionals, continuations, continuation-in-part applications, continued prosecution, patents granted on such applications, reissues, renewals, substitutions, supplementary protection certificates and the
like, and patents of addition, reexaminations, extensions; and all foreign counterparts thereof. 
 1.17 “Licensed
Product” means any product in the Field of Use intended for therapeutic or prophylactic use in humans which (a) but for the License would infringe a Valid Claim or (b) otherwise incorporates, uses or is derived from the Licensed
Materials or the Know-How. 
 1.18 “Net Sales” means any and all gross revenues actually received by
Intrexon and its Affiliates on account of the sale or transfer of Licensed Product by Intrexon or its Affiliate to a Third Party, less the following: 

(a) trade, quantity, promotional and other customary discounts actually allowed and taken directly with respect to such
sales, or amounts repaid or credited because of retroactive price adjustments; 
 (b) rebates (including price reductions,
rebates to social and welfare systems, chargebacks or reserves for chargebacks, cash rebate incentives, government mandated rebates and similar types of rebates); 

(c) the portion of administration fees paid to group purchasing organizations or pursuant to inventory management agreements
with Third Party wholesalers and warehousing chains related exclusively to the distribution of Licensed Product; 
 (d)
tariffs, duties, excises, sales taxes or other taxes imposed and paid with respect to the production, sale, delivery or use of such Licensed Products (excluding national, state or local taxes based on income); 

(e) the amount of chargebacks, and amounts repaid or credited by reason of rejections, recalls, damages or returns of goods,
costs to return Licensed Product of the type described in sub-paragraph (f) below, and costs of disposal of recalled Licensed; 

(f) freight, postage, shipping, transportation and insurance charges actually allowed or paid by Intrexon or any of its
Affiliates for delivery of Licensed Products sold by Intrexon or any of its Affiliates to a Third Party and to the extent added to the sale price and set forth separately as such in the total amount invoiced; and 

  
 3 

 (g) a reasonable allowance for bad debt calculated in accordance with GAAP. 

Notwithstanding the foregoing, no discount, allowance, rebate, chargeback, or any similar amount, however designated, that is
given or associated with the purchase by any Third Party of any product other than the Licensed Products, or with the purchase or provision of any service, shall be taken into consideration in calculating any deductions from the invoiced amount. Net
Sales amounts shall be determined from the books and records of Intrexon and its Affiliates maintained in accordance with GAAP, consistently applied. In the case of any sale for value, such as barter or counter-trade, of Product, other than in an
arm’s length transaction exclusively for cash, Net Sales shall be deemed to be the Net Sales at which substantially similar quantities of Product are sold for cash in an arm’s length transaction in the relevant country, or as reasonably
agreed by Intrexon and CONKWEST if unknown to Intrexon, shall be included in the definition of Net Sales. In the case of Combination Products for which the component constituting a Licensed Product and each of the other components not constituting a
Licensed Product have established market prices when sold separately, Net Sales shall be determined by multiplying the Net Sales for each such Combination Product by a fraction, the numerator of which shall be the established market price for the
Licensed Product contained in the Combination Product and the denominator of which shall be the sum of the established market prices for the Licensed Product plus the other components contained in the Combination Product. When separate market prices
are not established, then the Parties shall negotiate in good faith to determine a fair and equitable method of calculating Net Sales for the Combination Product in question, taking into account factors such as relative cost and relative therapeutic
or prophylactic contribution. Net Sales shall be recorded in accordance with GAAP. 
 1.19 “NK–92”
means [***]. 
 1.20 “Person” means an individual, partnership, firm, corporation, limited liability
company, joint venture, association, trust or other entity or any government agency or political subdivision thereof. 

1.21 “Phase I Clinical Trial” means a human clinical trial, the principal purpose of which is a preliminary
determination of safety in healthy individuals or patients as required in 21 C.F.R. §312.21(a), as may be amended from time to time, or a similar clinical study prescribed by the regulatory authorities in a market other than the United States.

 1.22 “Phase II Clinical Trial” means a human clinical trial, the principal purpose of which is a
preliminary determination of efficacy or dose ranges in patients with the disease target being studied as required in 21 C.F.R. §312.21(b), as may be amended from time to time, or a similar clinical study prescribed by the regulatory
authorities in a market other than the United States. 
 1.23 “Phase III Clinical Trial” means a human
clinical trial other than a Phase I Clinical Trial or Phase II Clinical Trial, the principal purpose of which is to provide substantial evidence of efficacy and safety in patients with the disease target being studied as required in 21 C.F.R.
§312.21(c), as may be amended from time to time, or a similar clinical study prescribed by the regulatory authorities in a market other than the United States. 

  
 4 

 1.24 “Reserved Field” means the use of NK–92 for the
following applications: [***]. 
 1.25 “Rightfully Use” means, with respect to NK–92, the Know-How or
the Licensed Patents, that CONKWEST has an interest therein sufficient to enable it to (a) use that intellectual property and (b) grant to Intrexon a license or sublicense to use that intellectual property as contemplated hereunder, in
either case without violating the terms of any agreement or other arrangement with or intellectual property rights of any Third Party. 

1.26 “Sublicensing Revenues” means any amounts received by Intrexon or its Affiliates from any Third Party
sublicensee of the License of the rights licensed to Intrexon under this Agreement, including, without limitation, any amounts received by Intrexon or its Affiliates on account of sales of Licensed Products by such sublicensee. If Intrexon or its
Affiliate receives non-cash consideration with respect to such sublicense, the fair market value of such non-cash consideration on the date of such receipt, as known to Intrexon, or as reasonably agreed by Intrexon and CONKWEST if unknown to
Intrexon, shall be included in Sublicensing Revenues. 
 1.27 “Third Party” means any Person other than
Intrexon, CONKWEST or an Affiliate of either of them. 
 1.28 “Valid Claim” means a claim of any issued and
unexpired patent, or patent application within the Licensed Patents that has been pending approval for no more than four (4) years after its initial date of filing, and that has not been held invalid or unenforceable by a final decision of a
court or governmental agency of competent jurisdiction, which decision can no longer be appealed or was not appealed within the time allowed. 

ARTICLE 2. LICENSE GRANT 

2.1 License. 

Subject to the terms and conditions of this Agreement, CONKWEST hereby grants to Intrexon (i) a non-exclusive, worldwide,
non-transferable (except as provided in Section 13.2), sublicensable (subject to Section 2.2), royalty-bearing license to the Licensed Patents, Know-How and Licensed Materials during the Term to research, develop, use, make, have made,
market, have marketed, import, have imported, distribute, have distributed, sell and have sold Licensed Products solely in the Field of Use, and (ii) an exclusive, worldwide, non-transferable (except as provided in Section 13.2),
sublicensable (subject to Section 2.2), royalty-bearing license to the Licensed Patents, Know-How and Licensed Materials during the Term to research, develop, use, make, have made, market, have marketed, import, have imported, distribute, have
distributed, sell and have sold Licensed Products solely in the Exclusive Field (subsections (i) and (ii) above, collectively, the “License”). CONKWEST shall not take any action, nor authorize any Affiliate or Third Party
to take any action, that is inconsistent with the rights granted to Intrexon pursuant to this Section 2.1. 
 2.2
Sublicenses. 
 Intrexon shall be entitled to grant sublicenses of its rights under the License, through one or more
tiers of sublicensees; provided, that Intrexon (a) shall pay CONKWEST the amounts 

  
 5 

 
under Section 4.3, (b) shall obtain the written commitment of such sublicensees to abide by all applicable terms and conditions of this Agreement and Intrexon shall remain fully
responsible to CONKWEST for the performance of all such terms by its sublicensee, and (c) Intrexon shall provide a true and correct copy of the sublicense agreement (redacted with respect to any information that does not directly relate to the
sublicense of the License) to CONKWEST within thirty (30) days of its execution. 
 2.3 Transfer of Know-How and
NK–92 Supply. 
 Within thirty (30) days of CONKWEST’s receipt of the license fee under Section 3.1,
CONKWEST will provide to Intrexon the Know-How, as in existence as of the Effective Date, and an initial supply of [***] (the “Master Cells”) and [***] (the “Research Cells”) as Licensed Materials. Intrexon may
create its own working cell banks from the Master Cells and Research Cells and may provide Licensed Materials (including working cell banks derived by Intrexon from the Master Cells and Research Cells) to its sublicensees for the sole purpose of
researching, developing and commercializing Licensed Products, in accordance with the terms of the License. Additionally, upon at least thirty (30) days prior written notice, CONKWEST will supply additional [***] (and Intrexon will reimburse
CONKWEST its pre-approved, documented, out-of-pocket costs associated therewith) if reasonably requested by Intrexon during the Term. Intrexon shall comply with all laws, rules, regulations and guidelines which are applicable to access by and use of
the Licensed Materials and the Know-How by Intrexon and its Affiliates and permitted sublicensees, including without limitation, those promulgated by the FDA (or the foreign equivalent) and the National Institutes of Health, and those relating to
the export and import of the Licensed Materials and the Know-How. 
 2.4 No Additional Rights. 

Nothing contained herein shall be construed to confer any rights upon either Party by implication, estoppel, or otherwise as
to any technology or patent rights of the other Party except as expressly set forth herein. All rights not specifically granted to Intrexon herein are expressly reserved by CONKWEST. 

ARTICLE 3. LICENSE FEES AND MILESTONE PAYMENTS 

3.1 License Fees. 

Within two (2) business days of the execution of this Agreement by both Parties, Intrexon shall pay CONKWEST a
non-refundable license fee of [***], due and payable in immediately available funds by wire transfer to the bank account set forth on Schedule B. 

  
 6 

 3.2 Milestone Payments. 

In addition to the license fees payable pursuant to Section 3.1, for each Exclusive Indication, Intrexon shall make
additional non-refundable, non-creditable milestone payments to CONKWEST in the following amounts, due and payable in immediately available funds within thirty (30) days after the date on which such milestone is achieved: 

 

					
	 Milestone
Event*
		  
		
Payment

	 		 
	 *Payable for each Exclusive Indication; provided

that, in the event that no Exclusive Indications

have been elected, the following shall be payable

for the first [***] non-exclusive indications.

Under no circumstances shall Intrexon owe the

following milestone payments for more than

[***] indications.
				 
	 (a) First IND Filing
				 $[***]

	 (b) Start of First Phase II Clinical Trials
				 $[***]

	 (c) Start of Phase III Clinical Trials
				 $[***]

	    (d) First Commercial Sale
		 		 $[***]

 ARTICLE 4. ROYALTIES 

4.1 Royalties. 

In consideration of the License granted by CONKWEST to Intrexon hereunder, Intrexon will pay or cause to be paid to CONKWEST
the following royalties during the Term consisting of a percentage of Net Sales during any Calendar Year during the Term, due and payable pursuant to Article 6: 
  

			
	Aggregate Net Sales during Calendar Year		Royalty
	 (a) $[***] to $[***]
		 [***] provided, that such royalty will be [***] of Net Sales with
respect to sales of a Licensed Product in a particular country that would not infringe a Valid Claim in such country absent the License

	 (b) Greater than $[***]
		 [***]; provided, that such royalty will be [***] of Net Sales with
respect to sales of a Licensed Product in a particular country that would not infringe a Valid Claim in such country absent the License

 4.2 Non-Redundant Royalties. 

The obligation to pay royalties to CONKWEST under this Article is imposed only once with respect to the same unit of Licensed
Product regardless of the number of Valid Claims and Licensed Patents covering the same. There shall be no obligation to pay CONKWEST under this Article on sales of Licensed Product between Intrexon and its Affiliates or between any of them but in
such instances the obligation to pay royalties shall arise upon the sale by Intrexon or its Affiliates to Third Parties. 

  
 7 

 4.3 Sublicensing Revenues. 

In addition to the payments, fees and royalties described elsewhere in this Agreement, Intrexon shall pay CONKWEST [***] of
all Sublicensing Revenues, due and payable within ten (10) days after receipt by Intrexon of such Sublicensing Revenues. 
 ARTICLE
5. REPORTS 
 5.1 Financial Reports. 

Within forty-five (45) days after the close of each Calendar Quarter of each year during the Term (including the last day
of any such Calendar Quarter following the expiration or termination date of this Agreement), Intrexon shall provide a written report to CONKWEST of all Net Sales, royalty payments, milestone payments and Sublicensing Revenues actually accruing
under Article 4 during such Calendar Quarter. Such quarterly reports shall indicate for such Calendar Quarter the Net Sales of each Licensed Product sold by Intrexon and its Affiliates and Sublicensing Revenues received from sublicensees with
respect to which payment is due (shown with respect to such Calendar Quarter and on an aggregate basis during the applicable Calendar Year) and the applicable royalty calculation and shall also include gross revenues with respect to such sales and a
breakdown of the allowable expenses used to determine Net Sales. In case no payment is due for any such period, Intrexon shall so report. Intrexon shall keep, and it shall cause its Affiliates and sublicensees to keep, accurate records in sufficient
detail to enable the aforesaid payments due under Section 4 to be determined. Upon the request of CONKWEST, Intrexon and its Affiliates and sublicensees shall permit an independent regionally recognized certified public accountant selected by
CONKWEST to have access, once in each Calendar Year during regular business hours and upon reasonable notice to Intrexon, to such of the records of Intrexon and its Affiliates and sublicensees with respect to such sales as may be necessary to verify
the accuracy of the reports made during the previous Calendar Year, except that: said accountant shall meet the prior approval of Intrexon or its Affiliate or its sublicensee in question, which approval shall not be unreasonably withheld or delayed;
and said accountant shall not disclose to CONKWEST any information except that which should properly have been contained in such reports; and said audit right may not be exercised more than once in any one Calendar Year. The records from which the
royalty reports are prepared need not be retained by Intrexon longer than three (3) years. Any such audit shall be at the sole cost and expense of CONKWEST. 

5.2 Product Reports. 

Upon written request of CONKWEST, Intrexon shall provide CONKWEST with summary reports, not more frequently than annually
during the Term, setting forth a summary-level review of the research, development and commercialization activities undertaken by Intrexon, its Affiliates and sublicensees with respect to the Licensed Products during the period covered by the report
and/or since the last report. For the avoidance of doubt, reports provided by Intrexon pursuant to this Section 5.2 are the Confidential Information of Intrexon. 

  
 8 

 ARTICLE 6. PAYMENTS 

6.1 Payments. 

Payments shown to have accrued by each of the quarterly reports provided for under Article 5 above shall be due and payable in
immediately available funds on the date such report is due and shall be paid in United States dollars. 
 6.2 Non-U.S.
Sales. 
 The remittance of payments based on Net Sales or Sublicensing Revenues received by Intrexon or its Affiliates
other than in United States dollars shall be payable to CONKWEST in United States dollars calculated using Intrexon’s conversion methodology, which shall be consistent with GAAP, and shall be based on monthly averages (end of prior month spot
rate plus end of current month spot rate divided by two) using central bank fixing rates in countries where available and open market rates otherwise. All taxes imposed as a result of the existence of this Agreement or the performance hereunder
shall be paid by the Party required to do so by applicable law; provided, that only if so required by applicable law, Intrexon shall withhold the amount of any such taxes and shall promptly effect payment thereof to the appropriate tax authorities.
In that case, Intrexon shall cooperate reasonably, at CONKWEST’s expense, with CONKWEST in obtaining a refund of any such taxes, and shall transmit to CONKWEST official tax receipts or other evidence issued by such tax authorities sufficient to
enable CONKWEST to support a claim for the United States income tax credit in respect of any such taxes so withheld. 
 6.3
Taxes. 
 If law or regulation requires the withholding of any taxes due by Intrexon or its Affiliates on sales of
Licensed Products in a given country, the Parties shall confer regarding possible alternative arrangements to lawfully avoid such withholding. If, between a country and any other place designated, a treaty reduces or eliminates the withholding of
any taxes otherwise due on royalties payable from such country, CONKWEST may (but shall not be obligated to) request a direct remittance of royalties to CONKWEST at such place as it may designate. If the parties are unable to formulate or agree upon
action to lawfully avoid withholding, then the Parties agree that such taxes shall be included as deductions in the calculation of Net Sales, and Intrexon shall remit such taxes to the proper authority and provide CONKWEST with appropriate
documentation thereof. 
 6.4 Late Payments. 

Any payment (including royalty, milestone and development funding) which is not made when due hereunder shall accrue interest
from the due date at the rate of one percent (1.0%) per month; provided that in no event shall such rate exceed the maximum legal annual interest rate. Collection of interest shall not prevent CONKWEST from exercising any other rights it may
have as a consequence of the default in timely payment. 

  
 9 

 ARTICLE 7. DATA SHARING AND ACCESS 

7.1 CONKWEST Information. 

CONKWEST will provide Intrexon [***]. 

7.2 Intrexon Information. 

Intrexon will provide CONKWEST [***]. 

ARTICLE 8. INTELLECTUAL PROPERTY 

8.1 Prosecution of Licensed Patents. 

(a) CONKWEST shall prosecute and reasonably maintain all of the patents and applications included within the Licensed Patents
with counsel of its own choosing and at its own expense in the following countries and territories: United States, European Union and Canada. CONKWEST also agrees to keep Intrexon reasonably informed of the status of all patent applications and any
patents issuing therefrom included in the Licensed Patents by providing Intrexon reports at least twice per Calendar Year listing all such patents and patent applications, identified by country, title and patent or application number and briefly
describing their status. CONKWEST also agrees to provide Intrexon with copies of all substantive official communications related to such patent applications or patents and to give reasonable due consideration to the advice of Intrexon’s counsel
in connection with all such substantive official communications from the applicable patent office. 
 (b) Should CONKWEST
(at its discretion) not wish to prosecute or maintain any patent or application included within the Licensed Patents in any particular country in which Licensed Products are being sold or intended to be sold (as determined by the Parties) (a
“Discontinued Patent”), CONKWEST will provide Intrexon with thirty (30) days’ advance written notice (but in any event sufficient notice to enable Intrexon to meet any deadlines by which an action must be taken to
establish or preserve any such rights in a Licensed Patent in any country) of its intentions (a “Patent Discontinuance Election”). Upon Intrexon’s receipt of a Patent Discontinuance Election, or if at any time CONKWEST fails to
initiate any such action within thirty (30) days after a request by Intrexon that it do so (or, if after initiating a requested action, CONKWEST at any time thereafter fails to diligently pursue such action) [***], Intrexon may elect to
prosecute and maintain the applicable Discontinued Patent at its own expense on CONKWEST’s behalf by providing CONKWEST with written notice of such election within thirty (30) days of its receipt of the Patent Discontinuance Election. Upon
such election by Intrexon, CONKWEST shall assign to Intrexon the right, but not the obligation, to prosecute and maintain such Discontinued Patent on CONKWEST’s behalf and at Intrexon’s expense. Pending such assignment, CONKWEST shall
exercise commercially reasonable efforts at Intrexon’s reasonable expense to maintain or otherwise ensure that available patent protection will not be lost with respect to such Discontinued Patent; provided, that Intrexon does not unreasonably
delay the assignment thereof. With respect to any Discontinued Patent, each document or a draft thereof in either Party’s possession or control pertaining to the prosecution or maintenance of such Discontinued Patent, including without
limitation, each patent application, office action, response to office action, request for terminal disclaimer and request for reissue or reexamination 

  
 10 

 
of any patent issuing from such application shall be provided to the Party that is not conducting such activity as follows. Documents received from any patent office or counsel’s analysis
thereof shall be provided to the other Party promptly after receipt. For a document to be filed in any patent office, a draft of such document shall be provided sufficiently prior to its filing to allow for review and comment by the other Party. The
Party conducting the activity agrees to give good faith consideration to all comments provided by the other Party. In the event that claims must be narrowed and the other Party disagrees with said action or wishes to continue to pursue broader
claims, then the Party conducting such activity agrees to pursue said broader claims in additional patent filings or as appropriate at the other Party’s expense. 

8.2 Infringement by Third Parties. 

(a) Notice. Upon learning of any suspected infringement of the Licensed Patents in the Field of Use, each Party shall
promptly notify the other Party in writing of the details of any such suspected infringement and shall inform the other Party of any evidence thereof. 

(b) Intrexon’s Right to Enforce Within the Field of Use. Intrexon, in its sole discretion, is empowered, but not
obligated, to enforce the Licensed Patents within the Field of Use at any time during the Term at its sole expense by initiating, prosecuting and controlling any claim, action or proceeding with respect to such infringement using counsel of its
choice that is reasonably acceptable to CONKWEST, as follows: 
 (i) CONKWEST will reasonably cooperate with any such
defense or enforcement, including joining as a named party as necessary; 
 (ii) [***]; 

(iii) [***]; 

(iv) [***]; and 

(v) [***]. 

(c) CONKWEST’s Right to Enforce Within the Field of Use. If Intrexon fails to bring an infringement action
described in Section 8.2 within a period of ninety (90) days after receiving written notice from CONKWEST or within a period of one hundred-eighty (180) days after having actual knowledge of infringement of the Licensed Patents within
the Field of Use, then CONKWEST shall have the right to bring and control any such infringement action, or otherwise assume the primary defense of such invalidity or unenforceability claims, by counsel of its own choice and expense. If CONKWEST
reasonably determines that Intrexon is an indispensable party to the infringement action, Intrexon hereby consents to be joined. In such event, Intrexon shall have the right to be represented in that infringement action by counsel of its own choice
and at Intrexon’s expense. CONKWEST shall have the right to settle any such infringement action, subject to Intrexon’s prior consent, which consent will not be unreasonably withheld. Any damages or other monetary awards recovered by
CONKWEST shall be applied first to defray all of the costs and expenses incurred in the infringement action. If any balance remains, such balance shall be (i) shared equally by CONKWEST and Intrexon if such infringement action is within the
Exclusive Field, or (ii) retained by CONKWEST if such infringement action is outside of the Exclusive Field. 

  
 11 

 (d) CONKWEST’s Right to Enforce Outside the Field of Use. CONKWEST,
in its sole discretion, retains the power but is not obligated, to enforce the Licensed Patents outside the Field of Use; provided, that in any proceeding in which the validity or enforceability of a Licensed Patent is asserted or that is otherwise
likely to affect the enforcement of the Licensed Patents in the Field of Use, CONKWEST shall promptly notify Intrexon in writing and Intrexon may consult in the defense of any of the Licensed Patents at its own expense. CONKWEST shall consider in
good faith any reasonable suggestions of Intrexon relative to the defense of the Licensed Patents. 
 8.3 Infringement of
Third Party Intellectual Property. 
 (a) If any Third Party asserts a formal or informal claim against either Party
(or any of their Affiliates, agents or sublicensees) alleging that any of the activities of Intrexon or its Affiliates or sublicensees with respect to the research, development or commercialization of Licensed Products infringes, misappropriates or
violates the intellectual property rights of any Third Party, the Party first having notice of such claim shall promptly notify the other Party in writing. The notice shall set forth the facts of the claim in reasonable detail. 

(b) Intrexon shall defend against any such Third Party claim brought against it, CONKWEST or any Party’s Affiliates,
agents or sublicensees if such claim does not involve the Licensed Patents or Know-How; provided, that CONKWEST shall be entitled to be represented in such defense by counsel of its own choosing at CONKWEST’s sole expense. CONKWEST shall defend
against any such Third Party claim brought against it, Intrexon or any Party’s Affiliates, agents or sublicensees if such claim involves the Licensed Patents or Know-How; provided, that Intrexon shall be entitled to be represented in such
defense by counsel of its own choosing at Intrexon’s sole expense. 
 (c) All damages or other amounts, if any,
payable to such Third Party pursuant to a final, unappealable court order or ruling or pursuant to a settlement effected in good faith (which settlement shall have been approved by both Parties, which approval shall not be unreasonably withheld,
conditioned or delayed by either Party), together with all reasonable defense costs (including, without limitation, reasonable attorneys’ fees, experts and witness fees, and other customary litigation costs and expenses) (collectively,
“Damages”) incurred by the Party controlling the defense, shall be borne (i) solely by CONKWEST to the extent such Damages are caused by or arise from the acts or omissions of CONKWEST, including without limitation any breach
of a representation or warranty of CONKWEST hereunder, and (ii) solely by Intrexon to the extent such Damages are caused by or arise from the acts or omissions of Intrexon or its Affiliates and sublicensees pursuant to its activities under this
Agreement. To the extent either Party owes an amount to the other in accordance with the preceding allocation of financial responsibility, the Party who owes such amount shall pay it promptly (and in any event within thirty (30) days) after
such order, ruling or settlement. 

  
 12 

 8.4 No Implied License for Infringement of Third Party Rights. 

Licenses granted by CONKWEST herein are not to be construed as consent by CONKWEST to any act which may be performed by
Intrexon or its Affiliates or sublicensees, except to the extent such act would otherwise constitute infringement of the Licensed Patents, Licensed Materials or Know-How absent the License expressly granted in this Agreement. 

ARTICLE 9. REPRESENTATIONS, WARRANTIES, COVENANTS, DISCLAIMERS 

9.1 Mutual Warranties. 

Each Party hereby represents and warrants to the other Party as of the Effective Date that: 

(a) it is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it
is incorporated; 
 (b) it has the corporate power and authority and the legal right to enter into this Agreement free from
any conflicting right owed to a Third Party and to perform its obligations hereunder; 
 (c) it has taken all necessary
corporate action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder and that this Agreement has been duly executed and delivered on behalf of such Party and constitutes a legal,
valid, binding obligation, enforceable against such Party in accordance with its terms; 
 (d) all necessary consents,
approvals and authorizations of all applicable competent authorities and other Persons required to be obtained by such Party in order to execute and perform this Agreement on behalf of such Party have been obtained; and 

(e) the execution and delivery of this Agreement and the performance of such Party’s obligations do not constitute a
default or require any consent under any other contractual obligation of such Party. 
 9.2 CONKWEST Warranty. 

CONKWEST hereby represents and warrants to Intrexon that as of the Effective Date: 

(a) CONKWEST owns or otherwise Rightfully Uses Licensed Patents, Licensed Materials and Know-How (in the case of the Licensed
Materials and Know-How, provided by CONKWEST) and has the right to grant to Intrexon the License; 
 (b) there has not been
as of the Effective Date any challenge to the Licensed Patents by any Third Party for which actual notice has been received by CONKWEST; 

(c) to the knowledge of CONKWEST, the use of the Licensed Patents, NK–92 cells and use of the Know-How do not infringe
on any valid claims of an issued United States patent owned by any Third Party; 

  
 13 

 (d) to the knowledge of CONKWEST, no Third Party is infringing any of the
Licensed Patents, Licensed Materials or Know-How; and 
 (e) to the knowledge of CONKWEST, the Licensed Patents are valid
and enforceable. 
 (f) to the best knowledge of CONKWEST, after due and diligent inquiry, since the development of
NK–92, NK–92 has not been transferred, licensed or provided to any Third Party in any manner that would adversely effect the exclusive rights granted to Intrexon under this Agreement. 

9.3 Disclaimer of Warranties. 

Except as specifically set forth in this Agreement. NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, WARRANTIES OF NON-INFRINGEMENT, OR ANY OTHER STATUTORY OR NON-STATUTORY WARRANTIES. 

9.4 Exclusion of Damages. 

Except with respect to material breaches of Article 2 (License Grant), Article 10 (Indemnification; Insurance) or Article 11
(Confidentiality), in no event will either Party be liable for any special, incidental, consequential or indirect damages suffered by the other Party arising in any way out of this Agreement, however caused and on any theory of liability. This
limitation will apply even if the Party has been advised of the possibility of such damage. 
 ARTICLE 10. INDEMNIFICATION AND INSURANCE

 10.1 Responsibility and Control. 

Subject to the provisions of Section 10.2, Intrexon and CONKWEST shall each be solely responsible for the safety of its
own Affiliates, employees, agents, licensees (except Intrexon in the case of CONKWEST) or sublicensees with respect to its respective activities under this Agreement and each shall hold the other harmless with regard to any liability for damages or
personal injuries resulting from acts of its respective employees, agents or Affiliates. 
 10.2 Mutual
Indemnification. 
 (a) Indemnification by CONKWEST. CONKWEST hereby agrees to indemnify, defend and hold
harmless Intrexon and its Affiliates and their respective directors, officers, employees, representatives and agents, and the heirs, successors and assigns of any of them, from and against any and all claims, actions, investigations, proceedings,
expenses, costs, damages, liabilities and losses (including, without limitation, reasonable attorneys’ fees, experts and witness fees, and other customary litigation costs and expenses) asserted against any of them by a Third Party
(collectively, “Claims”) arising from or based on (i) material breach of this Agreement by CONKWEST, (ii) breach of any representation of warranty of CONKWEST under this Agreement, or (iii) the negligence or willful
misconduct of CONKWEST or its Affiliates. 

  
 14 

 (b) Indemnification by Intrexon. Intrexon hereby agrees to indemnify,
defend and hold harmless CONKWEST and its Affiliates and their respective directors, officers, employees, representatives and agents, and the heirs, successors and assigns of any of them, from and against any and all Claims, arising from or based on
(i) (1) material breach of this Agreement by Intrexon, or (2) the negligence or willful misconduct of Intrexon or its Affiliates, or (ii) resulting from violation of applicable law, personal injury, product liability or property
damage relating to or arising from: (1) the manufacture, use, promotion or sale of Licensed Products by Intrexon or its Affiliates or sublicensees; or (2) the use by any Person of a Licensed Product made, created, sold or otherwise
transferred by Intrexon or its Affiliates or sublicensees; or (3) the use by Intrexon or its Affiliates or sublicensees of Licensed Patents, Licensed Materials or Know-How; provided that, in the case of subsection (ii) above, Intrexon
shall not indemnify, defend and hold harmless CONKWEST and it Affiliates to the extent that the Claim is due to the breach of this Agreement (including without limitation the breach of any representation of warranty) by CONKWEST or the negligence or
willful misconduct of CONKWEST or its Affiliates. 
 (c) Notification of Claims; Conditions to Indemnification
Obligations. The Parties shall promptly notify each other of any claims or suits with respect to which indemnification under this Agreement is or could be sought. The Party requesting indemnification shall permit the indemnifying Party to assume
the defense of such claims or suits giving rise to the request at the indemnifying Party’s sole expense. The requesting Party shall cooperate with the indemnifying Party in such defense when reasonably requested to do so. In no event shall the
indemnifying Party compromise or settle any claim or suit in a manner that admits fault or negligence on the part of the indemnified Party, or that would otherwise adversely affect any rights of the indemnified Party, without the prior written
consent of the indemnified Party, which consent will not be unreasonably withheld or delayed. The indemnifying Party shall have no liability under this Article 10 with respect to claims or suits settled or compromised without the indemnifying
Party’s prior knowledge and express written consent. 
 10.3 Insurance. 

During the Term, Intrexon shall, at its own expense, furnish CONKWEST promptly after the Effective Date, and annually
thereafter upon the CONKWEST’s request, with a certificate of insurance evidencing insurance coverage to fulfill its indemnification obligations under this Agreement. Such insurance shall expressly provide coverage for personal injury Claims
throughout the world (including, without limitation, the U.S.), and shall provide an aggregate minimum of $[***] of coverage per year on an occurrence-made basis until the occurrence of the First Commercial Sale of the first Licensed Product, at
which time the minimum aggregate annual coverage shall be $[***]. CONKWEST shall be named an additional insured in the above insurance coverage, and such insurance will not be canceled, non-renewed or modified in any material manner without at least
fifteen (15) days prior notice being given to CONKWEST. Intrexon shall maintain such insurance coverage during the Term and for a period of five (5) years thereafter. 

  
 15 

 ARTICLE 11. CONFIDENTIALITY 

11.1 Undertakings of the Parties. 

During the Term (as defined herein) of this Agreement and for five (5) years thereafter, each Party: (a) shall treat
as confidential all Confidential Information provided to the receiving Party by the disclosing Party; (b) shall not use such Confidential Information except as expressly permitted under the terms of this Agreement or otherwise authorized in
writing by the disclosing Party; (c) shall implement reasonable procedures to prohibit the disclosure, unauthorized duplication, misuse or removal of such Confidential Information; and (d) shall not disclose such Confidential Information
to any Third Party unless it is necessary to fulfill one or more obligations expressly required by this Agreement, and unless such Third Party has agreed in writing to be bound by terms of confidentiality at least equivalent to those set forth in
this Article 11, except that the period during which such information is to remain confidential may be reasonable and customary under the circumstances. Without limiting the foregoing, each of the Parties shall use at least the same procedures and
degree of care to prevent the disclosure of the other Party’s Confidential Information as it uses to prevent the disclosure of its own confidential information of like importance, and shall in any event use no less than reasonable procedures
and a reasonable degree of care; provided, that such obligations shall not apply to any information that is: 
 (i)
independently developed by such Party outside the scope and not in violation of this Agreement, as evidenced by such Party’s contemporaneous written records; 

(ii) in the public domain at the time of its receipt or thereafter becomes part of the public domain through no fault of the
recipient; 
 (iii) received without an obligation of confidentiality from a Third Party having the right to disclose such
information; 
 (iv) released from the restrictions of this Section 11.1 by the express written consent of the
disclosing Party; 
 (v) disclosed to any Affiliate, sublicensee or subcontractor (including potential sublicensees or
subcontractors) of such Party hereunder; provided that such Affiliate, sublicensee or subcontractor or potential sublicensee or subcontractor agrees to be bound by the provisions of this Section 11.1 or similar provisions in a separate
confidentiality agreement; or 
 (vi) required by law, statute, rule or court order to be disclosed (the disclosing Party
shall, however, use reasonable efforts to obtain confidential treatment of any such disclosure, consult with the other Party and permit the other Party to participate in seeking an appropriate protective order). 

11.2 Disclosure of Agreement. 

Unless otherwise provided in Section 11.1 or agreed to in writing or as necessary to comply with law, the terms of this
Agreement shall be deemed Confidential Information; provided, that either Party may disclose this Agreement and its terms on a confidential basis (i.e., 

  
 16 

 
pursuant to a written agreement to maintain the confidentiality of this Agreement and its terms and conditions in a manner not less restrictive than as provided in Section 11.1) to actual or
potential investors, lenders, advisors, Affiliates, sublicensees, permitted assignees or parties contemplating a strategic alliance or acquisition. 

ARTICLE 12. TERM AND TERMINATION 

12.1 Term. 

Unless otherwise terminated in accordance with this Article 13, the term of this Agreement (the “Term”) shall
begin as of the Effective Date and shall continue thereafter for seventeen (17) years. 
 12.2 Termination. 

Notwithstanding the foregoing, this Agreement may be terminated (a) upon the written consent of the Parties, (b) by
either Party upon written notice in the event the other Party materially breaches this Agreement and fails to cure such breach within sixty (60) days after delivery to such party of written notice by the non-breaching Party setting forth such
breach in reasonable detail and demanding a cure pursuant to this Section, or (c) by Intrexon upon one hundred and eighty (180) days written notice to CONKWEST. 

12.3 Effect of Termination. 

(a) Upon termination of this Agreement by the parties under Section 12.2(a), CONKWEST pursuant to Section 12.2(b)
or Intrexon pursuant to Section 12.2(c), the License and all sublicenses thereunder shall automatically terminate, and Intrexon shall immediately cease (and cause its Affiliates and sublicensees to cease) developing, making, having made, using,
selling, and having sold Licensed Products and using or practicing the Licensed Patents, Licensed Materials and the Know-How; provided, that each of Intrexon and its Affiliates and sublicensees may continue to sell off any inventory of Licensed
Products that it may have on hand as of the effective date of such termination for up to one hundred eighty (180) days, subject to payment of applicable royalties hereunder and all other terms applicable to such sales under this Agreement. 

(b) Upon expiration of this Agreement, or termination of this Agreement by Intrexon pursuant to Section 12.2(b), the
License granted to Intrexon hereunder shall become fully-paid up, royalty free, perpetual and non-cancelable. 
 (c)
Further, Sections 8.3, 9.3 and 9.4 and Articles 10 (Indemnification and Insurance), 11 (Confidentiality), 12 (Term and Termination) and 13 (Miscellaneous) of this Agreement shall survive the termination or expiration of this Agreement. 

(d) Termination of this Agreement for any reason shall be without prejudice to any rights that shall have accrued to the
benefit of either Party prior to such termination. 

  
 17 

 ARTICLE 13. MISCELLANEOUS 

13.1 Independent Contractors. 

Neither Party is, nor shall be deemed to be, an employee, agent, partner or legal representative of the other Party for any
purpose. Neither Party shall have the right, power or authority to enter into any contracts in the name of, or on behalf of, the other Party, nor shall either Party have the right, power or authority to pledge the credit of the other Party in any
way or hold itself out as having the authority to do so. 
 13.2 Assignment. 

Except as otherwise provided herein, Intrexon shall not have the right to assign any of its rights or obligations under this
Agreement without the prior written consent of CONKWEST; provided, that Intrexon, without any need for consent from CONKWEST, may assign all of its rights and obligations hereunder to an Affiliate (in which event Intrexon shall remain liable
notwithstanding such assignment for all obligations and liabilities of Intrexon arising hereunder prior to such assignment and incurred by such Affiliate hereunder after such assignment) or in connection with (a) a merger, consolidation or
change in control transaction of Intrexon, or (b) the sale of substantially all of Intrexon’s assets to which this Agreement relates. CONKWEST may assign any of its rights or obligations under this Agreement without restriction. If and to
the extent that a Party assigns any of its rights and/or obligations hereunder in accordance with this Section 13.2, then this Agreement shall be binding upon the assignee to the same extent as if it were a Party hereto and each reference
herein to the name of the assigning Party shall be deemed to include the assignee. Any assignment not in accordance with this Section 13.2 shall be void. To the extent permitted above, this Agreement shall be binding upon and inure to the
benefit of the Parties and their permitted successors and assigns. 
 13.3 Notices. 

All notices to be given under this Agreement shall be in writing and shall be served either by facsimile, by deposit with an
overnight courier with charges prepaid, or by deposit in the United States mail, first-class postage prepaid by registered or certified mail, addressed to the Parties at the address or facsimile number stated below or at any other address as
designated by one Party upon notice to the other Party. Any such notices shall be deemed to have been given on the date of receipt by the addressee (or, if the date of receipt is not a business day, on the first business day after the date of
receipt), as evidenced by (a) a receipt executed by the addressee (or a responsible person in its office), the records of the Person delivering such communication or a notice to the effect that such addressee refused to claim or accept such
communication, if sent by messenger, U.S. mail or express delivery service, or (b) a receipt generated by the sender’s electronic mail showing that such communication was sent to the appropriate electronic mail address on a specified date,
if sent by electronic mail. 

  
 18 

			
	 If to CONKWEST:
		 If to Intrexon:

		
	 CONKWEST, Inc.
		 Intrexon Corporation

	 3790 Via De La Valle, Suite 206
		 20358 Seneca Meadows Parkway

	 San Diego, CA 92014
		 Germantown, MD 20876

	 Attn: Chief Executive Officer
		 Attn: Chief Medical Officer

	 Email:bsimon@conkwest.com
		 Email:rherberman@intrexon.com

		
	 With a copy to:
		 With a copy to:

		
	 Cohen & Grigsby, P.C.
		 Intrexon Corporation

	 Dominion Tower
		 20358 Seneca Meadows Parkway

	 625 Liberty Avenue
		 Germantown, MD 20876

	 Pittsburgh, Pennsylvania 15222-3152
		 Attn: Legal Department

	 Attention: David J. Kalson, Esq.
		 Email: LegalDept@intrexon.com

	 E-mail: dkalson@cohenlaw.com
		

 13.4 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. 
 13.5 Waiver. 

No provision of this 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, which waiver shall be effective only with respect to the specific obligation and instance described therein. 

13.6 Counterparts. 

This Agreement may be executed simultaneously in two or more counterparts, including by facsimile signature or Adobe PDF
signature, each of which shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

13.7 Descriptive Headings. 

The descriptive headings of this Agreement are for convenience only, and shall be of no force or effect in construing or
interpreting any of the provisions of this Agreement. 
 13.8 Governing Law. 

This Agreement shall be governed by and interpreted in accordance with the substantive laws of the State of Delaware, without
regard to the conflicts of laws principles of that or any other jurisdiction. 

  
 19 

 13.9 Severability. 

Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. In such
event, the Parties shall substitute for such invalid or prohibited provision a valid and enforceable provision consistent with the spirit and objective of such invalid or prohibited provision. 

13.10 Entire Agreement of the Parties. 

This Agreement, including any exhibits or schedules hereto, constitutes and contains the complete, final and exclusive
understanding and agreement of the Parties as to the matters covered herein and supersedes any and all prior negotiations, correspondence, understandings and agreements, whether oral or written, between the Parties respecting the subject matter
hereof. 
 13.11 Jointly Prepared. 

This Agreement has been prepared jointly and shall not be strictly construed against either Party. 

13.12 No Third Party Rights. 

This Agreement is not intended to confer any benefits upon, or create any rights in favor of, any Person other than the
Parties, including without limitation, any Affiliates or sublicensees. 
 [Signatures appear on following page] 

  
 20 

 [SIGNATURE PAGE TO LICENSE AGREEMENT] 

IN WITNESS WHEREOF, the Parties hereto have duly executed this License Agreement effective as of the date first set forth
above. 
  

									
	 CONKWEST, INC.
				 INTREXON CORPORATION

					
	 By:
		 /s/ Barry Simon
				 By:
		 /s/ Rick Strong

	 Name:
		 Barry Simon
				 Name:
		 Rick Strong

	 Title:
		 CEO
				 Title:
		 Chief Financial Officer

  

 SCHEDULE A 

Licensed Patents 
 [***]

  

 SCHEDULE B 

Wire Transfer Instructions 

  

 ATTACHMENT I 

Procedure to Designate an Exclusive Indication for the Exclusive Field 

Capitalized terms used in this Attachment I shall have the meanings given such terms in the Exclusive License Agreement
dated February 23, 2010 (the “Agreement”), between CONKWEST Corporation (“CONKWEST”) and Intrexon Corporation (“Intrexon”). 

Background 

Pursuant to the terms and conditions of the Agreement, Intrexon is entitled to designate up to [***] Exclusive Indications.
Once designated pursuant to this Attachment I, the Exclusive Indication will constitute a portion of the Exclusive Field. 
  

	 	1.	 Intrexon may, at any time during the Term designate, by written notice to CONKWEST, an Exclusive Indication. An Exclusive Indication shall be for
[***]. For the avoidance of doubt, an Exclusive Indication may not be an indication set forth in the Reserved Field. Additionally, an Exclusive Indication may not be an Additional CONKWEST Indication (as defined below). 

 

	 	2.	 If the Exclusive Indication is not within the Reserved Field and is not an Additional CONKWEST Indication, then the Exclusive Indication shall
become part of the Exclusive Field for all purposes under the Agreement effective upon such notice to CONKWEST, subject to the provisions of subsection 3 below. 

 

	 	3.	 If Intrexon does not file an IND for a Licensed Product for the Exclusive Indication within [***] following the written notice provided by Intrexon
to CONKWEST pursuant to Section 1 above, then the Exclusive Indication shall no longer be deemed to be part of the Exclusive Field from and after the prescribed date for such filing. Additionally, Intrexon may, by written notice to
CONKWEST, withdraw any Exclusive Indication from the Exclusive Field, and from and after such removal, such Exclusive Indication shall not count toward the maximum of [***] Exclusive Indications. 

 

	 	4.	 If the Exclusive Indication designated by Intrexon pursuant to Section 1 above is an Additional CONKWEST Indication, then CONKWEST
shall provide Intrexon with written notice that the Exclusive Indication is an Additional CONKWEST Indication within [***] of the date of the notice from Intrexon received pursuant to Section 1 above. 

 

	 	5.	 An “Additional CONKWEST Indication” is an indication or application licensed on an exclusive or non-exclusive basis by CONKWEST to
a Third Party, or which CONKWEST is actively pursuing through its own clinical development. Notwithstanding any provision of this Attachment I to the contrary, CONKWEST shall provide Intrexon with as much advance notice as reasonably possible
of a 

  
 Attachment I-1 

	 	 
proposed Additional CONKWEST Indication. The following procedures shall apply to any proposed Additional CONKWEST Indication: 

 

	 	a.	 If the proposed Additional CONKWEST Indication is to be the subject of a license to a Third Party, then prior to granting such license, CONKWEST
shall provide Intrexon with written notice of this proposed license. Within [***] of receiving such notice, Intrexon shall have the right, but not the obligation, to designate such indication as an Exclusive Indication by written notice to CONKWEST.
Thereafter, the proposed Additional CONKWEST Indication shall constitute an Exclusive Indication, subject to the provisions of subsection 3 above. If Intrexon does not so designate such indication as an Exclusive Indication, then CONKWEST shall be
free to grant the license to the Third Party and the indication or application shall become an Additional CONKWEST Indication, subject to the provisions of subsection (d), below. 

 

	 	b.	 If the proposed Additional CONKWEST Indication is to be developed by CONKWEST on its own, then CONKWEST shall provide Intrexon with written notice
of its clinical development plans with respect to such indication. Within [***] of receiving such notice, Intrexon shall have the right, but not the obligation, to designate such indication as an Exclusive Indication by written notice to CONKWEST.
Thereafter, the proposed Additional CONKWEST Indication shall constitute an Exclusive Indication, subject to the provisions of subsection 3 above. If Intrexon does not so designate such indication as an Exclusive Indication, CONKWEST shall be free
to develop the indication or application on its own and such indication or application shall become an Additional CONKWEST Indication, subject to the provisions of subsection (d), below. 

 

	 	c.	 Intrexon may only provide the notices referred to in subsections (a) or (b) above, if Intrexon has the reasonable good faith intent at
the time of the notice that it will be pursuing such indication or application. 

  

	 	d.	 If within [***] of the designation of an Additional CONKWEST Indication pursuant to subsections (a) or (b) above, an IND for such
Additional CONKWEST Indication has not been filed with FDA, EMEA, or the Canadian or Korean regulatory equivalents, then such Additional CONKWEST Indication shall be subject to designation by Intrexon as an Exclusive Indication pursuant to this
Attachment I. For clarity, if an Additional CONKWEST Indication is designated as an Exclusive Indication pursuant to this subsection (d), then the rights of CONKWEST or a Third Party, as applicable to such Additional CONKWEST Indication shall
be terminated upon such designation, subject to the provisions of this Attachment I. 

  
 Attachment I-2EX-10.11

 Exhibit 10.11 

UHN- ZelleRx LICENSE AGREEMENT 
 This
License Agreement (“Agreement”), dated as of May 9, 2005 (Effective Date), between University Health Network, a Canadian not-for-profit corporation (“UHN”), and ZelleRx Corporation, an Illinois for profit corporation
(“ZelleRx”), each separately referred to as a “Party” or jointly as “the Parties”. 
 Purpose and Intent

 UHN has the right to grant licenses in the Licensed Intellectual Property as defined below; and 

ZelleRx desires to obtain worldwide exclusive rights to such Licensed Intellectual Property for commercialization in the Field and in the Territory each
as defined below; and 
 UHN is willing to grant a license to the Licensed Intellectual Property for such purposes; 

Therefore the Parties agree as follows. 
 Agreement

 1. Definitions. Capitalized terms used herein but not defined below shall have the meanings ascribed to them in the Clinical
Trial Agreement. The following capitalized terms used in this Agreement shall mean: 
  

	 	A.	 “Affiliate” means, as to any person or entity, any other person or entity which directly or indirectly controls, is controlled by or is under
common control with such person or entity. Control shall mean the right to control, or actual control of, management of such other entity, whether by ownership of voting securities, by agreement, or otherwise. 

 

	 	B.	 “Clinical Trial” means the clinical trial entitled “Dose Escalation Study of NK-92 Cell Infusions in Patients With Hematological Malignancies
in Relapse After Autologous Stem Cell Transplantation” conducted at Princess Margaret Hospital, Toronto, Canada pursuant to that certain Clinical Trial Agreement (the “Clinical Trial Agreement”) of even date herewith (herein, the
“Clinical Trial Agreement”). 

  

	 	C.	 “Data” means all data, results, conclusions, and observations arising from this Clinical Trial, including without limitation, the information set
forth in the protocol, records, regulatory filings and other documentation comprising, referred to, pertaining to, arising or resulting from or associated with the Clinical Trial clinical outcomes; case report forms; treatment records; and
information relating to cell production methods and techniques including cell expansion technologies, cell culture media optimization, culture techniques and quality assurance and quality control procedures; whether or not it is in the form of trade
secrets, know-how, show-how, documents, models, inventions and equipment, or other information in any form (including oral disclosures) developed, invented or created for use in or as

  
 1 

	 	 
a consequence of the Clinical Trial that is in the possession of UHN and has not become the subject of a patent application and/or been disclosed to UHN’s Office of Intellectual Property (or
a UHN authority having similar responsibilities) responsibilities) as of the Effective Date elements of which may be duplicated within the Sponsor Deliverables and the Source Documents (as defined below) and/or a New Invention or Discovery.

  

	 	D.	 “Field” means the diagnosis and treatment of hematological malignancies by the use of NK-92 cells subsequent to relapse after bone marrow
transplantation. 

  

	 	E.	 “Licensed Intellectual Property” means Data, Source Documents, and any New Inventions or Discoveries, whether or not disclosed in patents issued or
applied for and other information arising or resulting therefrom. Such Licensed Intellectual Property includes, but is not limited to: clinical outcomes; case report forms; treatment records; cell production methods and techniques including cell
expansion technologies, cell culture media optimization, culture techniques and quality assurance and quality control procedures; trade secrets, know-how, show-how, documents, models, inventions and equipment, or other information in any form
(including oral disclosures) developed, invented or created for use in or as a consequence of the Clinical Trial that is related to and dependent on NK-92 cells and that is in the possession of UHN and has not become the subject of a patent
application and/or been disclosed to UHN’s Office of Intellectual Property as of the Effective Date. Licensed Intellectual Property does not include improvements to UHN’s existing techniques and technologies that are not related to and
dependent on the use of NK-92 cells. 

  

	 	F.	 “Licensed Product” means any product or process containing or using the Licensed Intellectual Property within the Field. 

 

	 	G.	 “New Invention or Discovery” means any invention or discovery conceived or first reduced to practice during, and as part of the research performed
pursuant to, this Agreement or the Clinical Trial Agreement. 

  

	 	H.	 “Source Documents” means the original of all medical records, hospital records, clinical and patient charts, laboratory notes, pharmacy dispensing
records, recorded data from automated medical equipment, diagnostic images, and other records (including microfiches, photographic negatives, microfilm or magnetic media of such records) generated in accordance with commonly accepted standards for
documenting the provision of medical care and maintained by the clinical care units, pharmacy, laboratories and medico-technical departments of UHN (or the facility/entity where such records are created). 

 

	 	I.	 “Sublicense” means any agreement in which ZelleRx grants any rights in the Licensed intellectual Property to a third party. 

 

	 	J.	 “Sublicensee” means any person, company or other entity granted a Sublicense by ZelleRx under Paragraph 2.B. below, including Affiliates of the
Sublicensee, but excludes persons, companies or other entities owned in part or wholly, controlled by or under common control by ZelleRx. 

  
 2 

	 	K.	 “Territory” means worldwide. 

2. GRANTS OF LICENSE AND RESERVATION OF RESEARCH RIGHTS 
  

	 	A.	 Grant to ZelleRx. UHN hereby grants to ZelleRx and its Affiliates a worldwide exclusive license under the Licensed Intellectual Property to use
the Licensed Intellectual Property in the development of Licensed Products and in applications for regulatory approvals related to such products and to make, have made, use, import, offer to sell and sell Licensed Products within the Field and
within the Territory. 

  

	 	B.	 Sublicense. ZelleRx shall have the exclusive right to grant sublicenses to third parties to all rights granted ZelleRx under Paragraph 2.A. on
terms consistent with terms of this Agreement All Sublicenses shall provide that the Sublicensee may not grant further Sublicenses to third parties, except to Affiliates of the Sublicensee, or except for the purpose of having Licensed Products made
for the Sublicensee or Affiliate. ZelleRx shall provide UHN with a copy of each executed Sublicense within thirty (30) days of the execution thereof. Each Sublicense shall state that if this Agreement terminates for any reason, except
expiration pursuant to Paragraph 9.A., the Sublicense shall automatically terminate effective the same date without the necessity of any notice from UHN to the Sublicensee. In each case, UHN agrees to negotiate in good faith for a period of ninety
(90) days following the termination of this Agreement with each Sublicensee for a license directly from UHN granting the Sublicensee substantially the same rights under substantially the same terms as those contained in the license with
ZelleRx. If no agreement is reached within the ninety (90) days, UHN shall have no further obligation to the Sublicensee. 

 3.
Consideration As consideration for the licenses granted in Paragraph 2.A of this Agreement, ZelleRx shall deliver the NK-92 cell line and related information as provided in the Clinical Trial Agreement. 

4. Prosecution and Maintenance of Patents; Patent Costs 
  

	 	A.	 Prosecution and Maintenance. As directed by ZelleRx, UHN shall be solely responsible for the preparation, filing, prosecution and maintenance
of any patent applications and patents under the Licensed Intellectual Property. UHN shall cause its patent counsel to provide ZelleRx with a list of the countries in which it has filed and/or intends to file applications at least sixty
(60) days prior to such filing to allow ZelleRx to suggest that additional countries be added to the list or that countries be deleted from the list UHN agrees to file applications in those countries requested by ZelleRx. ZelleRx agrees to
cooperate, and agrees to cause its Sublicensees and Affiliates of either to cooperate, with UHN in the preparation, filing, prosecution and maintenance of the Licensed Patents by disclosing such information as may be necessary for the same and by
promptly executing such documents as UHN may reasonably request in connection 

  
 3 

	 	 
therewith. ZelleRx shall bear its own costs in connection with its cooperation with UHN under this Paragraph and shall cause its Sublicensees and Affiliates to bear their own costs in connection
with such cooperation with UHN. . UHN will provide ZelleRx copies of all material documents received or prepared by UHN in the prosecution and maintenance of the Licensed Patents. UHN shall provide copies in a timely manner to allow ZelleRx an
opportunity to comment and request changes in UHN’s documents. UHN agrees to include all reasonable comments of ZelleRx. 

  

	 	B.	 Discontinuance of Patent Rights, In the event that ZelleRx elects not to file, prosecute or maintain any patent application or patent under the
Licensed Patents or pay any fee related thereto, in any country, ZelleRx shall promptly notify UHN of such election, but in no case later than sixty (60) days prior to any required action relating to the filing, prosecution or maintenance of
such patent or patent application. From and after the effective date of such notice, such patent application or patent shall cease to be within the Licensed Patents for all purposes of this Agreement, and all rights and obligations of ZelleRx with
respect thereto shall terminate and revert to UHN. 

  

	 	C.	 Patent Costs. ZelleRx agrees to pay all necessary and reasonable third party fees and expenses incurred by UHN in obtaining and maintaining
patents under the Licensed Intellectual Property, including those incurred by UHN prior to the date of this Agreement within thirty (30) days after receipt of an invoice for such prior fees and expenses. Payment for fees and expenses incurred
after the Effective Date shall be invoiced to ZelleRx on a monthly basis and ZelleRx agrees to pay such invoices within thirty (30) days of receipt. ZelleRx also agrees upon request by UHN to make timely estimated advanced payments for the
filing of national applications. Documentation received from third party vendors to support the amounts invoiced shall be included with each invoice. ZelleRx shall raise any objections to such amounts invoiced within the thirty (30) day time
period for payment. Invoices for advanced payments shall be reconciled with the advance payments made by ZelleRx every six (6) months. Any excess payment by ZelleRx shall be credited to future patent costs specified in this Paragraph.

 5. No Warranties; Indemnification, Insurance 

 

	 	A.	 Disclaimer of Warranties. UHN makes no representations or warranties of any kind, express or implied, with respect to the information or
invention(s) claimed in the Licensed Intellectual Property or with respect to the Licensed Patents themselves, including but not limited to, any representations or warranties about (i) the validity, scope or enforceability of any of the
Licensed Patents; (ii) the accuracy, safety or usefulness for any purpose of any information provided by UHN to ZelleRx, its Sublicensees or Affiliates of either, with respect to the Licensed Intellectual Property and any products developed
from or covered by them; (iii) whether the practice of the Licensed Intellectual Property will or might infringe a patent or other intellectual property right owned or licensed by a third party; (iv) the patentability of any invention
claimed in the Licensed Intellectual Property; or (v) the accuracy, safety, or usefulness for any purpose of any product or process made or carried out in accordance with or through the use of the Licensed Intellectual Property.

  
 4 

	 	B.	 Indemnification. ZelleRx agrees, and agrees to cause its Sublicensees and Affiliates of either, to indemnify, defend and hold harmless UHN, its
Affiliates and all trustees, directors, officers, employees, fellows and agents of any of the foregoing (including UHN and its Affiliates, each an “Indemnified Person”) from and against any and all claims, demands, loss, damage, penalty,
cost or expense (including attorneys’ and witnesses’ fees and costs) of any kind or nature, arising from the development, production, use, sale or other disposition of Licensed Products and all activities associated therewith by ZelleRx,
its Sublicensees or Affiliates of either, or any use of information provided by UHN to ZelleRx, its Sublicensees or Affiliates of either. ZelleRx agrees and agrees to cause each of its Sublicensees and Affiliates of either to agree not to sue any
Indemnified Person in connection with the development, production, use, sale or other disposition of Licensed Products and all activities associated therewith. UHN shall be entitled to participate at its option and expense through counsel of its own
selection, and may join in any legal actions related to any such claims, demands, losses, damages, costs, expenses and penalties. ZelleRx, its Sublicensees and Affiliates of either, shall not enter into any settlement affecting any rights or
obligations of any Indemnified Person or which includes an express or implied admission of liability, negligence or wrongdoing by any Indemnified Person, without the prior written consent of such Indemnified Person. 

 

	 	C.	 Assumption of Risk. The entire risk as to the performance, safety and efficacy of any Licensed Products is assumed by ZelleRx, its Sublicensees
and Affiliates of either, provided that such assumption of the risk shall not apply to the intentional misconduct or gross negligence by Indemnified Persons. Indemnified Persons shall not, except for their intentional misconduct or gross negligence,
be responsible or liable for any injury, loss, or damage of any kind, including but not limited to direct, indirect, special, incidental or consequential damages or lost profits to ZelleRx, any Sublicensee, Affiliates of either or customers or any
of the foregoing, or for any such injury, loss or damage to any other individual or entity, regardless of legal theory based on the development, manufacture, use, sale or other disposition of Licensed Products and all activities associated
therewith. The above limitations on liability apply even though the Indemnified Person may have been advised of the possibility of such injury, loss or damage. ZelleRx shall not, and shall require all Sublicensees and Affiliates of either to not,
make any agreements, statements, representations or warranties or accept any liabilities or responsibilities whatsoever with regard to any person or entity which are inconsistent with this Paragraph. 

 

	 	D.	 Insurance. ZelleRx agrees and agrees to cause its Sublicensees and Affiliates of either to maintain normal and adequate liability insurance
that shall cover any claims for bodily injury, property, or other damage alleged to relate to Licensed Products. ZelleRx, Sublicensees, and Affiliates shall list UHN and its Affiliates, at ZelleRx’s, its Sublicensees’ or Affiliates’
of either of them, expense, whichever is relevant, as additional named insureds under each liability insurance policy (including excess or umbrella liability policies) that ZelleRx, its Sublicensees and

  
 5 

	 	 
Affiliates of either have or shall obtain, that includes any coverage of claims relating to Licensed Products. Such insurance shall be primary and noncontributory to any insurance UHN and its
Affiliates may have. At UHN’s request, ZelleRx will supply UHN from time to time with copies of each such policy, and will notify UHN in writing at least 30 days prior to any termination of or change in coverage under any such policies.

 7. Confidentiality. 
  

	 	A.	 Confidentiality, Publications and Data Access. All information submitted by one party to the other concerning the Licensed Intellectual
Property and Licensed Products shall be considered as confidential (“Confidential Information”) and shall be utilized only pursuant to the licenses granted hereunder. During the term of this Agreement and for a period of five
(5) years thereafter, neither party shall disclose to any third party any Confidential Information received from the other party without the specific written consent of such party. However, ZelleRx may disclose Confidential Information
belonging to UHN to potential Sublicensees for the purpose of evaluating their interest in entering into a Sublicense but only after entering into a confidentiality and non-use agreement on the same terms as those contained in this Paragraph. The
foregoing shall not apply where such Information 

	a)	 UHN can show was in its possession prior to the date of disclosure by ZelleRx, but only if such possession was obtained without breaching ZelleRx’s
rights in and to such Confidential Information; 

	b)	 Is disclosed by a third party who is authorized to do so; 

	c)	 becomes public knowledge through no breach of the terms of this Agreement; 

	d)	 is generated by UHN independently of any Confidential Information obtained under this Agreement; 

	e)	 is disclosed with the prior written approval of ZelleRx; 

	f)	 UHN is required to disclose under law or regulation to a judicial or regulatory or government authority, 

	g)	 must be disclosed to a potential subject for the purpose of recruitment and which must be disclosed to patients enrolled in the Clinical Trial or any legal
representatives, in order to protect the participants’ health and safety, and which must be disclosed to the Regulatory Ethics Board (the “REB”) for such purposes; 

	h)	 which must be disclosed to the REBs of other participating centres in order to coordinate the review; 

which may be published or reported in accordance with this Agreement. 

 

	 	B.	 Publications. Each Party shall provide to the other Party copies of any proposed publication or presentation containing any Confidential
Information at least thirty (30) days in advance of submission for publication or presentation (“Disclosure”). The receiving Party may within thirty (30) days of receipt of such proposed Disclosure object in writing to such
proposed Disclosure on the grounds that (i) it contains patentable subject matter that needs patent protection or (ii) that the Disclosure contains Confidential Information of the objecting Party. At the request of the objecting Party, the
identified Confidential Information shall be deleted from the Disclosure and the objecting Party may request that public Disclosure may be delayed for an additional period of up to thirty (30) days to permit the preparation and filing of
appropriate patent applications. 

  
 6 

 8. Infringement. In the event of an infringement of a patent or patents under the Licensed
Intellectual Property the following shall apply: 
  

	 	A.	 Notice. Each party shall give the other written notice if one of them becomes aware of any infringement by a third party of any such patent(s)
under the Licensed Intellectual Property. Upon notice of any such infringement, the parties shall promptly consult with one another with a view toward reaching agreement on a course of action to be pursued. 

 

	 	B.	 ZelleRx’s Right to Bring Infringement Action. 

(1) If a third party infringes any patent included in the Licensed Intellectual Property within the Field, ZelleRx shall have the right
to institute and prosecute an action or proceeding to abate such infringement and to resolve such matter by settlement or otherwise. ZelleRx agrees to notify UHN of its intention to bring an action or proceeding prior to filing the same and in
sufficient time to allow UHN the opportunity to discuss with ZelleRx the choice of counsel for such matter. ZelleRx agrees to hire counsel reasonably acceptable to UHN. ZelleRx shall keep UHN timely informed of material developments in the
prosecution or settlement of such action or proceeding. ZelleRx shall be responsible for all costs and expenses of any action or proceeding against infringers which ZelleRx initiates. UHN shall cooperate fully by joining as a party plaintiff if
required to do so by law to maintain such action or proceeding and by executing and making available such documents as ZelleRx may reasonably request. ZelleRx agrees to promptly reimburse UHN for its reasonable third party out-of-pocket fees and
expenses incurred in joining an action or proceeding or cooperating with ZelleRx. UHN may be represented by counsel in any such legal proceedings, at UHN’s own expense, subject to reimbursement under Paragraph 8.B.(2)., acting in an advisory
but not controlling capacity. 
 (2) The prosecution, settlement, or abandonment of any action or proceeding under Paragraph 8.B.(1)
shall be at ZelleRx ‘s reasonable discretion provided that ZelleRx shall not have any right to surrender any of UHN’s rights to the Licensed Intellectual Property or to grant any infringer any rights to the Licensed Intellectual Property
without UHN’s written consent. 
  

	 	(3)	 Except as provided herein, all amounts of every kind and nature recovered from an action or proceeding of infringement by ZelleRx shall belong to ZelleRx. If
the amounts recovered by ZelleRx exceed ZelleRx ‘s reasonable third party out-of-pocket fees and expenses, ZelleRx shall reimburse UHN for UHN’s reasonable out-of-pocket fees and expenses incurred in hiring its own counsel.

  

	 	C.	 UHN’s Right to Bring Infringement Action. If a third party infringes any patent included under the Licensed Intellectual Property which
UHN wishes to 

  
 7 

	 	 
prosecute, UHN shall first notify ZelleRx in writing and request that ZelleRx bring an action or proceeding against the infringing third party. If ZelleRx declines or fails to bring such an
action or proceeding within thirty (30) days of receipt of the notice, UHN shall have the right, at its discretion, to institute and prosecute an action or proceeding to abate such infringement and to resolve such matter by settlement or
otherwise. ZelleRx shall cooperate fully by joining as a party plaintiff if required to do so by law to maintain such action and by executing and making available such documents as UHN may reasonably request. If the amounts recovered by UHN exceed
its reasonable third party out-of-pocket fees and expenses, UHN agrees to pay ZelleRx for its and its Sublicensees’ reasonable out-of-pocket third party expenses incurred by it in cooperating in the action or proceeding. Except as specifically
provided in this Paragraph, UHN shall have the right to retain all amounts recovered of every kind and nature. 

 9.
Termination 
  

	 	A.	 Term. Unless terminated under the provisions of Paragraph 9.B, this Agreement shall expire as follows: 

 

	 	(1)	 The License to ZelleRx from UHN for the use of the Licensed Intellectual Property and the development, manufacture and sale of Licensed Product shall expire
upon the earliest of: 

  

	 	a)	 termination of the Clinical Trial prior to its formal conclusion. 

 

	 	b)	 the fifth (5th) anniversary of the formal conclusion of the Clinical Trial should ZelleRx have
failed to apply for regulatory approval of any Licensed Product as of this date; or 

  

	 	c)	 the third (3rd) anniversary of the receipt of regulatory approval of the first Licensed Product by
ZelleRx should ZelleRx have failed to introduce the Licensed Product into commerce as of this date; or 

  

	 	d)	 the date upon which ZelleRx has withdrawn all previously introduced Licensed Products from commerce and has no applications for regulatory approvals of
Licensed Products pending; or 

  

	 	e)	 twenty (20) years from the Effective Date of this Agreement upon which the License shall be deemed to be royalty-free, irrevocable, and paid-up.

  

	 	B.	 UHN’s Right to Terminate. UHN shall have the right to terminate this Agreement as follows, in addition to all other available remedies:

 (1) If ZelleRx fails to observe any other material obligation of this Agreement, this Agreement shall terminate
effective thirty (30) days after UHN’s written notice to ZelleRx describing such failure, unless ZelleRx cures such failure within the thirty (30) days; 

  
 8 

 (2) If ZelleRx shall have filed by or against it a petition under any bankruptcy or
insolvency law and such petition is not dismissed within sixty (60) days of its filing, or if ZelleRx makes an assignment of all or substantially all of its assets for the benefit of its creditors UHN may terminate this Agreement by written
notice effective as of the (i) date of filing by ZelleRx of any such petition, (ii) date of any such assignment to creditors, or (iii) end of the sixty (60) days if a petition is filed against it and not dismissed by such time,
whichever is applicable; 
 (3) If ZelleRx shall be dissolved, liquidated or otherwise ceases to exist, other than for reasons
specified in Paragraph 9. B. ( 3) above, this Agreement shall automatically terminate as of (i) the date articles of dissolution or a similar document is filed on behalf of ZelleRx with the appropriate government authority or (ii) the date
of establishment of a liquidating trust or other arrangement for the winding up of the affairs of ZelleRx; and 
  

	 	B.	 ZelleRx’s Right to Terminate. ZelleRx may terminate this Agreement as follows: 

 

	 	(1)	 At any time by giving UHN ninety (90) days prior written notice. 

 

	 	(2)	 If the Principal Investigator of the Clinical Trial leaves UHN or otherwise ends involvement in the Clinical Trial, UHN and ZelleRx shall agree upon a
successor Principal Investigator if ZelleRx and UHN cannot agree on a successor, ZelleRx shall have the right to terminate this Agreement. 

  

	 	C.	 Survival. Article 5 and all causes of action accruing to either party under this Agreement shall survive termination for any reason, as well as
(1) ZelleRx’s obligation to pay Patent Costs accrued prior to the date of termination and which were not paid or payable before termination; and (2) Articles 6 and 7. 

10. Miscellaneous 
  

	 	A.	 Marking. Where a Licensed Product is covered by the scope of any valid claim contained in any patent or patent application included within the
Licensed Intellectual Property, ZelleRx shall and agrees to cause its Sublicensees and Affiliates of either, to place in a conspicuous location on the Licensed Product (or its packaging where marking the Product is physically impossible) sold to
third parties, a patent notice in accordance with the laws concerning the marking of patented articles in the country in which such articles are sold. 

  

	 	B.	 Export Regulations. To the extent that the United States Export Control Regulations are applicable, neither ZelleRx nor UHN shall, without
having first fully complied with such regulations, (1) knowingly transfer, directly or indirectly, any unpublished technical data obtained or to be obtained from the other party hereto to a destination outside the United States, or
(ii) knowingly ship, directly or indirectly, any product produced using such unpublished technical data to any destination outside the United States. 

  
 9 

	 	C.	 Entire Agreement, Amendment, Waiver. This Agreement, together with the Clinical Trial Agreement of even date herewith, constitute the entire
agreement between the parties regarding the subject matter hereof, and supersede all prior written or oral agreements or understandings (express or implied) between them concerning the same subject matter. In the case of any conflict between this
License and the Clinical Trial Agreement, the Clinical Trial Agreement shall prevail. This Agreement may not be amended or modified except in a document signed by duly authorized representatives of each party. No waiver of any default hereunder by
either party or any failure to enforce any rights hereunder shall be deemed to constitute a waiver of any subsequent default with respect to the same or any other provision hereof. 

 

	 	D.	 Notice. Any notice required or otherwise made pursuant to this Agreement shall be in writing, sent by registered or certified mail properly
addressed, or by facsimile with confirmed answer-back, to the other party at the address set forth below or at such other address as may be designated by written notice to the other party. Notice shall be deemed effective three (3) business
days following the date of sending such notice if by mail, on the day following deposit with an overnight courier, if sent by overnight courier, or upon confirmed answer-back if by facsimile. 

 

			
	 If to UHN:
		 UHN. University Health Network

			 610 University Avenue, 7-504,

			 Toronto, ON M5G 2M9

			 Canada

			 Facsimile Number (416) 946-2287

			 Attention: C.J. Paige, Ph.D., Vice President, Research

		
	 If to ZelleRx:
		 ZelleRx Corporation

			 400 North Noble, Suite 100

			 Chicago, IL 60622

			 USA

			 Facsimile Number: (312) 577-0912

			 Attention: CEO

  

	 	E.	 Assignment. This Agreement shall be binding on the parties hereto and upon their respective successors and assigns. Either party may at any
time, upon written notice to the other party, assign or delegate to a successor to all or substantially all of its business any of its rights and obligations hereunder, provided that, any such assignment or delegation shall in no event relieve
either party of its primary responsibility for the same. Except as provided in the preceding sentence, Neither Party may assign or delegate any right or obligation hereunder without the prior written consent of the other Party, which consent shall
not be unreasonably withheld, and any attempted assignment or delegation in violation thereof shall be void. 

  
 10 

	 	F.	 Governing Law. The interpretation of this Agreement shall be governed by the laws of the State of New York applicable to contracts made.

  

	 	G.	 Advertising. ZelleRx agrees not to use, and shall prohibit its Sublicensees and the Affiliates of either from using, the name of the UHN or any
of its personnel in any commercial activity, marketing, advertising or sales brochures. 

  

	 	H.	 Force Majeure. In the event either party hereto is prevented from or delayed in the performance of any of its obligations hereunder by reason
of acts of God, war, strikes, riots, storms, fires, or any other cause whatsoever beyond the reasonable control of the party, the party so prevented or delayed shall be excused from the performance of any such obligation to the extent and
during the period of such prevention or delay. 

 IN WITNESS WHEREOF, the parties hereto have caused this agreement
to be executed by their respective duly authorized officers or representatives on the date first above written. 
  

									
			 University Health Network
						 ZelleRx

					
	 By:
		 /s/ C.H. Paige
				 By:
		 /s/ Gary Keller

					
	 Name:
		 C.H. Paige, Ph.D.
				 Name:
		 Gary Keller

					
	 Title:
		 Vice President Research
				 Title:
		 Chief Executive Officer

					
	 Date:
		 5/16/05
				 Date:
		 5/10/05

  
 11

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