Document:

Exhibit 4.(b)(5)

 Exhibit 4(b)(5) 

LEASE AGREEMENT 
 THIS LEASE AGREEMENT (“Lease”) is made as of this 16th day of May, 2012, between ARE-TECH SQUARE, LLC, a Delaware limited liability company (“Landlord”), and
ELAN PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”). 
 BASIC LEASE PROVISIONS

  

					
	Address:	  	300 Technology Square, Cambridge, Massachusetts
		
	Premises:	  	That portion of the 3rd floor of the Building consisting of approximately 9,294 rentable square feet of space, as determined by Landlord, as shown on Exhibit A.
		
	Building:	  	The specific building in which the Premises are located, which building is within the Project and located at 300 Technology Square, also known as Unit 300 of the
Condominium described in Exhibit B.
		
	Project:	  	The real property on which the Building is located, also known as Technology Square Condominium (the “Condominium”), together with all improvements
thereon and appurtenances thereto from time to time located thereon in the City of Cambridge, Middlesex County, Commonwealth of Massachusetts, as described on Exhibit B. The Landlord reserves the right to modify the Condominium at any time
and from time to time, but the parties acknowledge the Condominium presently consists of Units 100, 200, 300, 400, 500, 600 and 700 (also known as Buildings 100, 200, 300, 400, 500, 600 and 700), as well as specified common areas on the Condominium
(including the Technology Square Garage).
		
	Base Rent:	  	Rent Commencement Date – Month 15: $54.00 per rsf per year
	  	Months 16 – 27:	  	$55.00 per rsf per year
	  	Months 28 – 39:	  	$56.00 per rsf per year
	  	Months 40 – 51:	  	$57.00 per rsf per year
	  	Months 52 – 63:	  	$58.00 per rsf per year
		
	Rentable Area of Premises: 	  	9,294 sq. ft.
		
	Rentable Area of Building:	  	175,609 sq. ft. Tenant’s Share of Operating Expenses: 5.29%
		
	Rentable Area of Project: 	  	1,164,288 sq. ft. Building’s Share of Project: 15.08%
		
	Security Deposit:	  	None
		
	Base Year:	  	2012
		
	Base Term:	  	Beginning on the Commencement Date and ending 63 months from the first day of the first full month of the Term (as defined in Section 2) hereof.
		
	Permitted Use:	  	Office and related uses consistent with the character of the Project, and otherwise in compliance with the provisions of Section 7 hereof.

  
 

 

			
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	 Address for Rent Payment:

385 East Colorado Boulevard, Suite 299
 Pasadena,
CA 91101
 Attention: Accounts Receivable
	 	 Landlord’s Notice Address:
 385 East Colorado Boulevard, Suite 299
 Pasadena, CA 91101

Attention: Corporate Secretary

		
	 Tenant’s Notice Address:
 300 Technology Square, Suite 302
 Cambridge, MA 01239

Attention: Lease Administrator
	 	

 The following Exhibits and Addenda are attached hereto and incorporated herein by this reference: 

 

			
	[X] EXHIBIT A – PREMISES DESCRIPTION	 	[X] EXHIBIT B – DESCRIPTION OF PROJECT
	[X] EXHIBIT C – WORK LETTER	 	[X] EXHIBIT D – ACKNOWLEDGMENT OF COMMENCEMENT DATE
	[X] EXHIBIT E – RULES AND REGULATIONS	 	[X] EXHIBIT F – TENANT’S PERSONAL PROPERTY
	[X] EXHIBIT G – DEMISING IMPROVEMENTS	 	[X] EXHIBIT H – SERVICES
	[X] EXHIBIT I – SIGNAGE	 	

 1. Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord hereby
leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The Basic Lease Provisions set forth above are subject to the remaining terms and conditions of this Lease and are to be interpreted in light of such remaining terms
and conditions. The portions of the Project which are for the non-exclusive use of tenants of the Project are collectively referred to herein as the “Common Areas,” which Common Areas shall include any areas designated by Landlord
for the non-exclusive use of tenants of the Project following the completion by Landlord of the Demising Improvements (as defined in Section 2). Landlord reserves the right to modify Common Areas, provided that such modifications do not
(a) materially adversely affect Tenant’s use of the Premises for the Permitted Use, or (b) materially increase the amount paid by Tenant as Operating Expenses under this Lease. From and after the Commencement Date through the
expiration of the Term, Tenant shall have access to the Building, the Premises and the Technology Square Garage 24 hours a day, 7 days a week, except in the case of emergencies, as the result of Legal Requirements, the performance by Landlord of any
installation, maintenance or repairs, or any other temporary interruptions, and otherwise subject to the terms of this Lease. 

2. Delivery; Acceptance of Premises; Commencement Date. Landlord shall deliver (“Delivery” or
“Deliver”) the Premises to Tenant for Tenant’s performance of Tenant’s Work under the Work Letter within 1 day of the full execution of this Lease and Tenant’s delivery of evidence of the insurance required hereby and
by the Work Letter. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not
Deliver the Premises within 30 days after the mutual execution and delivery of this Lease by the parties for any reason other than Force Majeure delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by
Tenant, neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive the termination of this Lease. As used herein, the term “Tenant’s
Work,” shall have the meaning set forth for such term in the Work Letter. 
 The “Commencement Date”
shall be the date Landlord Delivers the Premises to Tenant. The “Rent Commencement Date” shall be the date that is 3 months after the Commencement Date. Upon request of Landlord, Tenant shall execute and deliver a written
acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D;
provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect 

  
 

 

			
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Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined in the Basic Lease Provisions of this Lease and the Extension Term which Tenant may
elect pursuant to Section 39 hereof. 
 Landlord shall, at Landlord’s sole cost and expense, construct demising
walls and related improvements, as reflected on Exhibit G (“Demising Improvements”). Landlord shall use reasonable efforts to complete the Demising Improvements on or before June 15, 2012 (as such date may be extended
for Force Majeure delays and delays caused by Tenant; provided, however, that in no event shall the failure of Breathable Foods, an existing occupant of a portion of the Premises, to surrender the portion of the Premises it is occupying qualify as a
Force Majeure delay). The Rent Commencement Date shall be extended 1 day for each day after June 15, 2012 (as such date may be extended for Force Majeure delays and delays caused by Tenant) that Landlord fails to substantially complete the
Demising Improvements. Tenant acknowledges that Landlord shall require access to portions of the Premises after the Commencement Date in order to complete the Demising Improvements. Landlord and its contractors and agents shall have the right to
enter the Premises to complete the Demising Improvements and Tenant shall cooperate with Landlord in connection with the same. Landlord agrees to use reasonable efforts to perform the Demising Improvements in a manner which does not unreasonably
interfere with or cause a material disturbance of Tenant’s performance of Tenant’s Work in the Premises and Landlord and Tenant agree to cooperate and coordinate any activities which are reasonably likely to cause a material disturbance
with Tenant’s performance of Tenant’s Work in order for Tenant to reasonably mitigate such interference; provided, however, that Tenant recognizes that construction noise and vibrations associated with normal construction activities are to
be expected during the course of the Demising Improvements. Tenant acknowledges that Landlord’s completion of the Demising Improvements may adversely affect Tenant’s performance of Tenant’s Work in the Premises, subject to
Landlord’s duty to act reasonably to mitigate such adverse effects on Tenant’s performance of Tenant’s Work in the Premises. Tenant waives all claims against Landlord in connection with the Demising Improvements including, without
limitation, claims for rent abatement, except as specifically provided for above. 
 Except as set forth in the Work Letter and
in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any
defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. 

For the period commencing on the Commencement Date through the date that is 60 days after the Rent Commencement Date, Landlord
shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13) serving the Premises,
unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. 

Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to
the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable
for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and
negotiations which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein. 

3. Rent. 

(a) Base Rent. Base Rent for the month in which the Rent Commencement Date occurs shall be due and payable on delivery of an
executed copy of this Lease to Landlord. Tenant shall pay to 

  
 

 

			
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Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the
Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments
of Base Rent for any fractional calendar month shall be prorated. If the Rent Commencement Date is other than the first day of a calendar month, the difference between the first full calendar month’s Base Rent paid upon delivery of an executed
copy of this Lease by Tenant to Landlord as required above, and the prorated Base Rent for the fractional month in which the Rent Commencement Date occurs, shall be applied by Landlord to the first full calendar month after the Rent Commencement
Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent (as defined in
Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. 
 (b) Additional
Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Excess Operating Expenses” (as defined in Section 5), and
(ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the
agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period. 
 4. Base Rent Adjustments. Base Rent shall be increased during the Base Term as provided for in the schedule set forth on page 1 of this Lease. Base Rent, as so adjusted, shall thereafter be due as
provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. 
 5. Operating Expense
Payments. Landlord shall deliver to Tenant a written estimate of Excess Operating Expenses for each calendar year during the Term after the Base Year (the “Annual Estimate”), which may be revised by Landlord from time to
time during such calendar year (but not more than twice in any calendar year). During each month of the Term after the Base Year, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of
the Annual Estimate. Payments for any fractional calendar month shall be prorated. The term “Excess Operating Expenses” means Operating Expenses for the applicable year in excess of Operating Expenses for the Base Year. 

The term “Operating Expenses” means all costs and expenses of any kind or description whatsoever incurred or accrued
each calendar year by Landlord with respect to the Building (including the Building’s Share of Project of all other costs and expenses of any kind or description incurred or accrued by Landlord with respect to the Project and the Condominium
(including without limitation all costs of compliance with the PTDM, as hereinafter defined) which are not specific to the Building or any other building located in the Project) (including, without duplication, Taxes (as defined in
Section 9), capital repairs and improvements amortized over the lesser of 10 years and the useful life of such capital items, excluding only: 
 (a) the original construction costs of the Project and renovation prior to the date of the Lease and costs of correcting defects in such original construction or renovation; 

(b) capital expenditures for expansion of the Project and capital expenditures for capital items that are not available for use by Tenant
as a tenant of office space rather than laboratory space (including vacuum, DI water and CDA systems); 
 (c) costs incurred for
routine maintenance of Building Systems that are not available for use by Tenant as a tenant of office space rather than laboratory space (including vacuum, DI water and CDA systems); 

  
 

 

			
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 (d) the cost of structural improvements or modifications to the roof structure of the
Building (exclusive of the roof membrane) or the Building structure, except for such improvements or modifications that are (i) determined to be reasonably necessary by Landlord to comply with its obligations under this Lease,
(ii) triggered by Tenant’s particular use of the Premises, the Tenant Improvements or Tenant’s Alterations, and/or (iii) required to comply with Legal Requirements to the extent permitted under Section 7 of this Lease; and
the cost of any structural repairs to the roof structure of the Building or the Building structure to the extent directly attributable to Landlord’s failure to act reasonably in the performance of its maintenance obligations under
Section 13 of this Lease; 
 (e) interest, principal payments of Mortgage (as defined in Section 27) debts of
Landlord, financing costs and amortization of funds borrowed by Landlord, whether secured or unsecured; and all payments of base rent (but not taxes or operating expenses) under any ground lease or other underlying lease of all or any portion of the
Project; 
 (f) depreciation of the Project (except for the amortization of any capital improvements, the cost of which are
specifically includable in Operating Expenses to the extent permitted herein); 
 (g) advertising, legal and space planning
expenses and leasing commissions and other costs and expenses incurred in procuring and leasing space to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants and any
marketing expenses; 
 (h) legal and other expenses incurred in the negotiation or enforcement of leases or in Landlord’s
defense of any action brought under this Lease or otherwise pursuant to Landlord’s defense of Tenant’s quiet enjoyment of the Premises; 
 (i) the cost of completing, fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or performs for other tenants within their premises, and costs of correcting
defects in such work; 
 (j) costs to be reimbursed by other tenants of the Project or Taxes to be paid directly by Tenant or
other tenants of the Project, whether or not actually paid; 
 (k) salaries, wages, benefits and other compensation paid to
officers and employees of Landlord who are not assigned in whole or in part to the operation, management, maintenance or repair of the Project, and to the extent such persons perform services not in connection with the management, operation, repair
or maintenance of the Building or Project; 
 (l) general organizational, administrative and overhead costs relating to
maintaining Landlord’s existence, either as a corporation, partnership, or other entity, including general corporate, legal and accounting expenses, costs of defending any lawsuits with any mortgagee (except as the actions of Tenant may be in
issue), and costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlord’s interest in the Building or Project; 
 (m) costs (including attorneys’ fees and costs of settlement, judgments and payments in lieu thereof) incurred in connection with disputes with tenants, other occupants, or prospective tenants, and
costs and expenses, including legal fees, incurred in connection with negotiations or disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees of the Building; 

(n) costs incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and
conditions of any lease of space in the Project or any Legal Requirement (as defined in Section 7); 

  
 

 

			
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 (o) penalties, fines or interest incurred as a result of Landlord’s inability or
failure to make payment of Taxes and/or to file any tax or informational returns when due, or from Landlord’s failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency; 

(p) overhead and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in or to the
Project to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; 
 (q) costs of Landlord’s charitable or political contributions, or of fine art maintained at the Project; 
 (r) costs in connection with services (including electricity), items or other benefits of a type which are not standard for the Project and which are not available to Tenant without specific charges
therefor, but which are provided to another tenant or occupant of the Project, whether or not such other tenant or occupant is specifically charged therefor by Landlord; 
 (s) costs incurred in the sale or refinancing of the Project; 
 (t) net income
taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or inheritance taxes or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein;

 (u) Taxes assessed solely against the retail space in the Project; 

(v) any expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than tenants of the
Project; 
 (w) Operating Expense reserves (including reserves for Taxes); 

(x) costs or expenses for the acquisition of sculpture, paintings or other works of art; 

(y) costs or fees relating to the defense of Landlord’s title to or interest in the Building and/or the Project, or any part
thereof; 
 (z) rentals and other related expenses, if any, incurred in leasing air conditioning systems or other equipment
ordinarily considered to be of a capital nature to the extent such costs exceed the amount otherwise includable in Operating Expenses hereunder if purchased rather than leased by Landlord; 

(aa) any costs or expenses which are duplicative of maintenance and repair costs and expenses actually incurred by Tenant in satisfaction
of Tenant’s maintenance and repair obligations under this Lease; 
 (bb) costs which are actually recovered by Landlord
pursuant to the insurance policies required to be maintained by Landlord hereunder (provided that, except as otherwise provided in Section 13, Landlord, in the exercise of its reasonable discretion, uses reasonable efforts to collect
such insurance proceeds) or, if Landlord fails to maintain such insurance policies, costs that would have been recovered pursuant to such insurance policies had they been maintained by Landlord as required under this Lease; 

(cc) any costs incurred to remove, study, test, remediate or otherwise related to the presence of Hazardous Materials in or about the
Building or the Project (excluding the Premises), which Hazardous Materials (i) existed prior to the Commencement Date, (ii) originated from any separately demised tenant space within the Project other than the Premises or (iii) were
not brought upon, kept, used, stored, 

  
 

 

			
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handled, treated, generated in, or released or disposed of from, the Project by Tenant or any Tenant Party (as herein defined); and 

(dd) costs incurred in connection with the performance of alterations or modifications to the Project (other than the Premises for which
Tenant shall be solely responsible) that are required solely due to the non-compliance of the Project with the Legal Requirements (other than the Premises for which Tenant shall be solely responsible) as of the Commencement Date. 

The cost of property management services provided by Alexandria Management, Inc. (or any successor thereto) at the rate of $1.25 per
rentable square foot of the Premises shall be included as part of the Base Rent payable monthly hereunder. Tenant shall have no other obligation to pay any property management fees and property management fees shall not be included in Operating
Expenses. 
 Within 90 days after the end of each calendar year (or such longer period as may be reasonably required), Landlord
shall furnish to Tenant a statement (an “Annual Statement”) showing in reasonable detail: (a) the total of and Tenant’s Share of actual Excess Operating Expenses for the previous calendar year, and (b) the total of
Tenant’s payments in respect of Excess Operating Expenses for such year. If Tenant’s Share of actual Excess Operating Expenses for such year exceeds Tenant’s payments of Excess Operating Expenses for such year, the excess shall be due
and payable by Tenant as Rent within 30 days after delivery of such Annual Statement to Tenant. If Tenant’s payments of Excess Operating Expenses for such year exceed Tenant’s Share of actual Excess Operating Expenses for such year
Landlord shall pay the excess to Tenant within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the
excess to Tenant within 30 days after delivery of such Annual Statement after deducting all other amounts due Landlord. 
 The
Annual Statement shall be final and binding upon Tenant unless Tenant, within 30 days after Tenant’s receipt thereof, shall contest any item therein by giving written notice to Landlord, specifying each item contested and the reason therefor.
If, during such 30 day period, Tenant reasonably and in good faith questions or contests the accuracy of Landlord’s statement of Tenant’s Share of Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and
records relating to the operation of the Project and such information as Landlord reasonably determines to be responsive to Tenant’s questions (the “Expense Information”). If after Tenant’s review of such Expense
Information, Landlord and Tenant cannot agree upon the amount of Tenant’s Share of Operating Expenses, then Tenant shall have the right to have an independent public accounting firm selected by Tenant from among the 5 largest in the United
States, working pursuant to a fee arrangement other than a contingent fee (at Tenant’s sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld or delayed), audit and/or review the Expense Information
for the year in question (the “Independent Review”). The results of any such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with respect to
Operating Expenses for the calendar year in question exceeded Tenant’s Share of Operating Expenses for such calendar year, Landlord shall at Landlord’s option either (i) credit the excess amount to the next succeeding installments of
estimated Operating Expenses or (ii) pay the excess to Tenant within 30 days after delivery of such statement, except that after the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation to pay Rent,
Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenant’s payments with respect to Operating Expenses for such calendar year were less than Tenant’s Share of
Operating Expenses for the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such statement. If the Independent Review shows that Tenant has overpaid with respect to Operating Expenses by more than 5% then
Landlord shall reimburse Tenant for all costs incurred by Tenant for the Independent Review. Notwithstanding anything set forth herein to the contrary, if the Building is not at least 95% occupied on average during the Base Year or any year of the
Term, Tenant’s Share of Operating Expenses for such year with respect to Variable Operating Expenses shall be computed as though the Building had been 95% occupied on average during such year. “Variable Operating Expenses” shall

  
 

 

			
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mean those Operating Expenses which vary by occupancy including, without limitation, electricity, trash removal and other Utilities (as defined in Section 11). 

“Tenant’s Share” shall be the percentage set forth on the first page of this Lease as Tenant’s Share as
reasonably adjusted by Landlord for changes in the physical size of the Premises or the Project occurring thereafter. The rentable square footage of the Premises set forth on page 1 of this Lease shall conclusively be deemed to be the square footage
of the Premises throughout the Term and shall not be subject to re-measurement by either party. Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or
service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Landlord shall endeavor to equitably allocate such items to other tenants of the Building in a similar manner
throughout the Term. Base Rent, Tenant’s Share of Operating Expenses and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.” 

6. Intentionally Omitted. 
 7. Use. The Premises shall be used solely for the Permitted Use set forth in the Basic Lease Provisions, and in compliance with all laws, orders, judgments, ordinances, regulations, codes,
directives, permits, licenses, covenants and restrictions now or hereafter applicable to the Premises, and to the use and occupancy thereof, including, without limitation, the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq.
(together with the regulations promulgated pursuant thereto, “ADA”) (collectively, “Legal Requirements” and each, a “Legal Requirement”). Tenant shall, upon 5 days’ written notice from
Landlord, discontinue any use of the Premises which is declared by any Governmental Authority (as defined in Section 9) having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used
for any purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase the insurance risk, or cause the disallowance of any sprinkler or other credits. The use that Tenant has disclosed to Landlord that Tenant will be
making of the Premises as of the Commencement Date will not result in the voidance of or an increase insurance risk with respect to the insurance currently being maintained by Landlord. Tenant shall not permit any part of the Premises to be used as
a “place of public accommodation”, as defined in the ADA or any similar legal requirement. Tenant shall reimburse Landlord promptly upon demand for any additional premium charged for any such insurance policy by reason of Tenant’s
failure to comply with the provisions of this Section or otherwise caused by Tenant’s use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit waste, overload the
floor or structure of the Premises, subject the Premises to use that would damage the Premises or obstruct or interfere with the rights of Landlord or other tenants or occupants of the Project, including conducting or giving notice of any auction,
liquidation, or going out of business sale on the Premises, or using or allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or
vibrations from the Premises from extending into Common Areas, or other space in the Project. Tenant shall not place any machinery or equipment which will overload the floor in or upon the Premises or transport or move such items through the Common
Areas of the Project or in the Project elevators without the prior written consent of Landlord, which consent shall not be unreasonably withheld. Except as may be provided under the Work Letter, Tenant shall not, without the prior written consent of
Landlord, use the Premises in any manner which will require ventilation, air exchange, heating, gas, steam, electricity or water beyond the existing capacity of the Project as proportionately allocated to the Premises based upon Tenant’s Share
as usually furnished for the Permitted Use. 
 Landlord has disclosed to Tenant that the Project is the subject of an Activity
and Use Limitation, which is incorporated herein by reference, and Tenant acknowledges receipt of a copy of such Activity and Use Limitation prior to execution of this Lease. 
 Landlord shall, at Landlord’s sole cost and expense, be responsible for the compliance of the Project (other than the Premises for which Tenant shall be solely responsible) with Legal Requirements as
of the Commencement Date. Following the Commencement Date, Landlord shall, as an Operating 

  
 

 

			
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Expense (to the extent such Legal Requirement is generally applicable to similar buildings in the area in which the Project is located) and at Tenant’s expense (to the extent such Legal
Requirement is triggered by reason of Tenant’s, as compared to other tenants of the Project, specific use of the Premises or Tenant’s Alterations) make any alterations or modifications to the Common Areas or the exterior of the Building
that are required by Legal Requirements, including the ADA. Tenant, at its sole expense, shall make any alterations or modifications to the interior of the Premises that are required by Legal Requirements (including, without limitation, compliance
of the Premises with the ADA) related to Tenant’s use or occupancy of the Premises, Tenant’s construction or installation of the Tenant Improvements or subsequent Alterations to the Premises made by Tenant, but only to the extent such
Alterations or modifications are particular to the Premises and are not generally applicable to all premises in the Building (for example, sprinkler system upgrades generally applicable to the Building shall be a capital expenditure performed by
Landlord as an Operating Expense). Notwithstanding any other provision herein to the contrary, Tenant shall be responsible for any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and
all reasonable expenses incurred in investigating or resisting the same (including, without limitation, reasonable attorneys’ fees, charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in
connection with Legal Requirements, and Tenant shall indemnify, defend, hold and save Landlord harmless from and against any and all Claims arising out of or in connection with any failure of the Premises to comply with any Legal Requirement.

 The repairs, corrections or replacements required of Landlord or of Tenant under the foregoing provisions of this
Section 7 shall be made by Landlord or Tenant, as applicable, within a reasonable time after being required to do so. 
 8. Holding Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written
consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease shall remain in full force and effect (excluding any expansion or renewal option or other
similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord and Tenant may agree,
in such written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written consent of
Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to (x) 125% of Rent in effect during the last 30 days of the Term (payable on a per diem basis) for the
first 60 days that Tenant is a tenant at sufferance (y) 150% of Rent in effect during the last 30 days of the Term, commencing upon the 61st day that Tenant is a tenant at sufferance, and (B) Tenant shall be responsible for all damages suffered by
Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages; provided, however, that if Tenant delivers a written inquiry to Landlord within 30 days prior to the expiration or earlier termination of the Term,
Landlord will notify Tenant whether the potential exists for consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this
Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of this Lease shall not result in a renewal or
reinstatement of this Lease. 
 9. Taxes. Landlord shall pay, as part of Operating Expenses (except to the extent
expressly excluded from Operating Expenses in Section 5), all taxes, levies, fees, assessments and governmental charges of any kind, existing as of the Commencement Date or thereafter enacted (collectively referred to as
“Taxes”), imposed by any federal, state, regional, municipal, local or other governmental authority or agency, including, without limitation, quasi-public agencies (collectively, “Governmental Authority”) during the
Term, including, without limitation, all Taxes: (i) imposed on or measured by or based, in whole or in part, on rent payable to (or gross receipts received by) Landlord under this Lease and/or from the rental by Landlord of the Project or any
portion thereof, or (ii) based on the square footage, assessed value or other measure or evaluation of any kind of the Premises or the 

  
 

 

			
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Project, or (iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including parking, or (iv) assessed or imposed by, or at the
direction of, or resulting from Legal Requirements, or interpretations thereof, promulgated by any Governmental Authority, (v) imposed as a license or other fee, charge, tax, or assessment on Landlord’s business or occupation of leasing
space in the Project, or (vi) assessed or imposed by or on the operation or maintenance of any portion or whole of the Condominium (provided that to the extent any Taxes are assessed against the Condominium as a whole, such amounts shall be
allocated among the buildings located in the Condominium based on the square footage of the buildings in question, unless Landlord reasonably determines that such allocation should be made on another basis). Landlord may contest by appropriate legal
proceedings the amount, validity, or application of any Taxes or liens securing Taxes. Notwithstanding anything to the contrary herein, Landlord shall only charge Tenant for such assessments as if those assessments were paid by Landlord over the
longest possible term which Landlord is permitted to pay for the applicable assessments without additional charge other than interest, if any, provided under the terms of the underlying assessments. Taxes shall not include any net income taxes
imposed on Landlord except to the extent such net income taxes are in substitution for any Taxes payable hereunder, nor shall Taxes include any franchise, estate, inheritance, succession, capital levy, transfer or excess profits taxes. If any such
Tax is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall pay, prior to delinquency, any and all Taxes levied
or assessed against any personal property or trade fixtures placed by Tenant in the Premises, whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade fixtures are levied against Landlord or
Landlord’s property, or if the assessed valuation of the Project is increased by a value attributable to improvements in or alterations to the Premises, whether owned by Landlord or Tenant and whether or not affixed to the real property so as
to become a part thereof, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to pay such Taxes. Landlord’s determination of
any excess assessed valuation shall be binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord within 30 days from the date of Tenant’s receipt of a
written invoice for Tenant’s Share of the amount paid by Landlord. Tax refunds, if any, shall be credited against Taxes for the year paid, including any interest which may be received thereon from the taxing authority, and Landlord shall refund
to Tenant within 30 days after receipt of any such Tax refund, the amount to which Tenant is entitled plus its pro-rata share of any interest corresponding to such amount to the extent received from the Governmental Authority, provided Tenant paid
Taxes for the year relating to such refund. 
 10. Parking. Subject to all matters of record, Force Majeure, a Taking (as
defined in Section 19 below) and the exercise by Landlord of its rights hereunder, Landlord shall make available to Tenant 13 parking spaces in the Technology Square Garage on a non-exclusive basis at market rates in those areas
designated for non-reserved parking, subject in each case to Landlord’s reasonable rules and regulations. Commencing on the Commencement Date and continuing thereafter during the Term, Tenant shall be required to pay for 8 of the parking spaces
made available to Tenant (“Required Spaces”). Tenant shall notify Landlord prior to the Commencement Date how many spaces in addition to such Required Spaces (up to 5 additional parking spaces) Tenant elects to initially use
hereunder and Tenant shall give Landlord 30 days’ notice following the Commencement Date if it wishes to use additional spaces during the Term, up to 5 additional parking spaces in the aggregate hereunder. In addition to paying for the Required
Spaces, Tenant shall be required to pay for the number of such additional parking spaces used by Tenant during the Term. Landlord may allocate parking spaces among Tenant and other tenants in the Project if Landlord determines that such parking
facilities are becoming crowded. Tenant shall pay to Landlord or as directed by Landlord, monthly as Additional Rent hereunder, the market rate for each parking space (including any of the additional parking spaces), as reasonably determined by
Landlord from time to time, which as of the date hereof shall be $220.00 per space per month. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties, including other tenants of the Project. Tenant
shall, at Tenant’s sole expense, for so long as the Parking and Traffic Demand Management Plan dated May 9, 1999 as approved by the City of Cambridge on July 9, 1999, including the conditions set forth in such approval (as amended
from time to time, the 

  
 

 

			
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“PTDM”), remains applicable to the Condominium, comply with the requirements of the PTDM. Tenant acknowledges and agrees that it has received and reviewed the PTDM. 

11. Utilities, Services. Landlord shall provide, subject to the terms of this Section 11, water, electricity, heat,
light, power, sewer, and other utilities (including gas and fire sprinklers to the extent the Project is plumbed for such services), refuse and trash collection and janitorial services (consistent with similar laboratory/office buildings in the
Cambridge, Massachusetts area) for the Premises and the Common Areas of the Building (collectively, “Utilities”) in compliance with the schedule of services attached hereto as Exhibit H. As part of the Tenant
Improvements, Tenant shall cause the Premises to be separately metered or submetered for electricity and, commencing on the date of Tenant’s installation of such meter or submeter which shall occur no later than the Rent Commencement Date,
Tenant shall pay for electricity consumed in the Premises based on such meter or submeter. Tenant shall pay directly to the Utility provider, prior to delinquency, the cost of separately metered electricity or other Utilities furnished to Tenant or
the Premises during the Term. If electricity to the Premises is submetered, Tenant shall pay to Landlord the cost of electricity furnished to the Premises based on the submeter as Additional Rent. With the exception only of electricity (or
any other Utilities) separately metered or submetered to the Premises as provided above, Tenant shall pay, as part of Excess Operating Expenses (except to the extent expressly excluded from Operating Expenses pursuant to Section 5), its
share of all charges for jointly metered Utilities based upon consumption, as reasonably determined by Landlord taking into consideration the use of the Premises for office purposes as compared to the use of other portions of the Building for
laboratory purposes. No interruption or failure of Utilities, from any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction of Tenant, termination of this Lease or, except as provided in
the immediately following paragraph, the abatement of Rent). Tenant agrees to limit use of water and sewer with respect to Common Areas to normal restroom use. Landlord shall not charge Tenant any mark-up or premium over the actual costs incurred by
Landlord in connection with the Building’s heating, ventilation and air-conditioning systems (“HVAC”) systems. 
 Landlord’s sole obligation for either providing emergency generators or providing emergency back-up power to Tenant shall be: (i) to provide emergency generators with not less than the capacity
of the emergency generators located in the Building as of the Commencement Date, which are designed to deliver emergency back up power to the Premises of 4 watts per rentable square foot of the Premises, and (ii) to contract with a third party
to maintain the emergency generators as per the manufacturer’s standard maintenance guidelines. Landlord shall have no obligation to provide Tenant with operational emergency generators or back-up power or to supervise, oversee or confirm that
the third party maintaining the emergency generators is maintaining the generators as per the manufacturer’s standard guidelines or otherwise. During any period of replacement, repair or maintenance of the emergency generators when the
emergency generators are not operational, including any delays thereto due to the inability to obtain parts or replacement equipment, Landlord shall have no obligation to provide Tenant with an alternative back-up generator or generators or
alternative sources of back-up power. Tenant expressly acknowledges and agrees that Landlord does not guaranty that such emergency generators will be operational at all times or that emergency power will be available to the Premises when needed.
Tenant agrees that its use of emergency back up power will not exceed 4 watts per rentable square foot of the Premises. 

Notwithstanding the foregoing, if any Essential Services are interrupted as a result of the gross negligence or willful misconduct of
Landlord or the Landlord Parties and Tenant is unable to and does not conduct Tenant’s business operations in the Premises as a result thereof for a period of more than 3 consecutive business days after written notice from Tenant to Landlord of
such interruption (“Interruption Notice”), Base Rent for the Premises shall be abated commencing on the expiration of such notice period and continuing during the period of such interruption provided that Tenant is unable to and
does not conduct Tenant’s business operations in the Premises. Any subsequent interruption of Essential Services directly relating to the initial Interruption Notice shall be a cause for further abatement without an additional waiting period.
As used herein, the term “Essential Services” shall mean the following services: access to the Premises, HVAC, water, electricity, and sewer, but in each case only to the extent that Landlord has an obligation to provide same to
Tenant under this Lease. 

  
 

 

			
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 12. Alterations and Tenant’s Property. Except for the Tenant Improvements
(which shall be governed by the terms of the Work Letter), any alterations, additions, or improvements made to the Premises by or on behalf of Tenant, including additional locks or bolts of any kind or nature upon any doors or windows in the
Premises, but excluding installation, removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord) not involving any modifications to the structure or connections (other than by ordinary plugs
or jacks) to Building Systems (as defined in Section 13) (“Alterations”) shall be subject to Landlord’s prior written consent, which may be given or withheld in Landlord’s sole discretion if any such Alteration
affects the structure or Building Systems and shall not be otherwise unreasonably withheld or delayed. Tenant may construct nonstructural Alterations in the Premises without Landlord’s prior approval if the aggregate cost of all such work in
any 12 month period does not exceed $50,000 (a “Notice-Only Alteration”), provided Tenant notifies Landlord in writing of such intended Notice-Only Alteration, and such notice shall be accompanied by plans, specifications, work
contracts and such other information concerning the nature and cost of the Notice-Only Alteration as may be reasonably requested by Landlord, which notice and accompanying materials shall be delivered to Landlord not less than 15 business days in
advance of any proposed construction. If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the commencement, performance and completion of such Alterations as Landlord may deem appropriate in
Landlord’s reasonable discretion. Any request for approval shall be in writing, delivered not less than 15 business days in advance of any proposed construction, and accompanied by plans, specifications, bid proposals, work contracts and such
other information concerning the nature and cost of the alterations as may be reasonably requested by Landlord, including the identities and mailing addresses of all persons performing work or supplying materials. Landlord shall endeavor to be
responsive to Tenant’s requests for approval delivered pursuant to this Section 12. Landlord’s right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have no
duty to ensure that such plans and specifications or construction comply with applicable Legal Requirements. Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and
shall implement at its sole cost and expense any alteration or modification required by Legal Requirements as a result of any Alterations. Tenant shall pay to Landlord, as Additional Rent, on demand an amount equal to 2% of all charges incurred by
Tenant or its contractors or agents in connection with any Alteration to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision. Before Tenant begins any Alteration, Landlord may post on and about the
Premises notices of non-responsibility pursuant to applicable law. Tenant shall reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty work done by Tenant or its contractors,
delays caused by such work, or inadequate cleanup. 
 Tenant shall assure payment for the completion of all Alterations work
free and clear of liens, and shall provide (and cause each contractor or subcontractor to provide) certificates of insurance for workers’ compensation and other coverage in amounts and from an insurance company reasonably satisfactory to
Landlord protecting Landlord against liability for personal injury or property damage during construction. Upon completion of any Alterations, Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and
subcontractors who did the work and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans for any such Alteration (if the Alteration was of the type for which “as built” plans would
typically be prepared). 
 Except for Removable Installations (as hereinafter defined), all Installations (as hereinafter
defined) shall be and shall remain the property of Landlord during the Term and following the expiration or earlier termination of the Term, shall not be removed by Tenant at any time during the Term, and shall remain upon and be surrendered with
the Premises as a part thereof. Notwithstanding the foregoing, Landlord may, at the time its approval of any such Installation is requested, or at the time it receives notice of a Notice Only Alteration, notify Tenant that Landlord requires that
Tenant remove such Installation upon the expiration or earlier termination of the Term, in which event Tenant shall remove such Installation in accordance with the immediately succeeding sentence. Upon the expiration or earlier termination of the
Term, Tenant shall remove (i) all wires, cables or similar equipment which Tenant has installed in the Premises or in the risers or plenums of the Building, (ii) any Installations for which

  
 

 

			
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Landlord has given Tenant notice of removal in accordance with the immediately preceding sentence, and (iii) all of Tenant’s Property (as hereinafter defined), and Tenant shall restore
and repair any damage caused by or occasioned as a result of such removal, including, without limitation, capping off all such connections behind the walls of the Premises and repairing any holes. During any restoration period beyond the expiration
or earlier termination of the Term, Tenant shall pay Rent to Landlord as provided herein as if said space were otherwise occupied by Tenant. 
 For purposes of this Lease, (x) “Removable Installations” means any items listed on Exhibit F attached hereto and any items agreed by Landlord in writing to be included
on Exhibit F in the future, (y) “Tenant’s Property” means Removable Installations and, other than Installations, any personal property or equipment of Tenant that may be removed without material damage to the
Premises (including, without limitation, all audio and visual and teleconferencing equipment), and (z) “Installations” means all property of any kind paid for by Landlord, all Alterations, all fixtures, and all partitions,
hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral part of the Premises. Notwithstanding anything to the contrary
contained herein, Tenant shall not be required to remove or restore any of the Tenant Improvements at the expiration or earlier termination of the Term, nor shall Tenant have any right to remove any of the Tenant Improvements from the Premises
during the Term, other than in accordance with the terms of this Section 12. 
 13. Landlord’s Repairs.
Landlord, as an Operating Expense (except to the extent expressly excluded from Operating Expenses in Section 5), shall maintain all of the structural, exterior, parking and other Common Areas of the Project, including HVAC, plumbing,
fire sprinklers, elevators and all other building systems serving the Premises and other portions of the Project (“Building Systems”), in good repair, reasonable wear and tear and uninsured losses and damages (unless such losses or
damages would have been insured losses or expenses if the insurance Landlord is required to maintain hereunder had been obtained and so long as it would make reasonable business sense to Landlord, bearing in mind the potential amount of the losses
and damages and the amount of the applicable deductibles, to submit a claim for such losses and damages to its insurer) caused by Tenant, or by any of Tenant’s agents, servants, employees, invitees and contractors (collectively, “Tenant
Parties”) excluded. Losses and damages caused by Tenant or any Tenant Party shall be repaired by Landlord, to the extent not covered by insurance Landlord is required to maintain hereunder (or to the extent such losses or damages would have
been covered by insurance Landlord is required to maintain hereunder if such insurance had been maintained and so long as it would make reasonable business sense to Landlord, bearing in mind the potential amount of the losses and damages and the
amount of the applicable deductibles, to submit a claim for such losses and damages to its insurer), at Tenant’s sole cost and expense. Landlord reserves the right to stop Building Systems services when necessary (i) by reason of accident
or emergency, or (ii) for planned repairs, alterations or improvements, which are, in the judgment of Landlord, desirable or necessary to be made, until said repairs, alterations or improvements shall have been completed. Landlord shall have no
responsibility or liability for failure to supply Building Systems services during any such period of interruption; provided, however, that Landlord shall, except in case of emergency, make a commercially reasonable effort to give
Tenant 24 hours advance notice of any planned stoppage of Building Systems services for routine maintenance, repairs, alterations or improvements. Landlord shall use reasonable efforts to minimize interruption of Tenant’s business during such
planned stoppages of Building Systems and Utilities. Tenant shall promptly give Landlord written notice of any repair required by Landlord pursuant to this Section, after which Landlord shall make a commercially reasonable effort to effect such
repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after Tenant’s written notice of the need for such repairs or maintenance. Tenant
waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees that the parties’ respective rights with respect to such matters shall be solely as set forth herein. Repairs
required as the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by Section 18. 

  
 

 

			
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 14. Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at
its expense, shall repair, replace and maintain in good condition all portions of the Premises, including, without limitation, entries, doors, ceilings, interior windows, interior walls, and the interior side of demising walls. Such repair and
replacement shall be subject to Landlord’s obligations set forth in Section 13 above and may include capital expenditures and repairs whose benefit may extend beyond the Term. Should Tenant fail to make any such repair or
replacement or fail to maintain the Premises, Landlord shall give Tenant notice of such failure. If Tenant fails to commence cure of such failure within 10 days of Landlord’s notice, and thereafter diligently prosecute such cure to completion,
Landlord may perform such work and shall be reimbursed by Tenant within 10 days after demand therefor; provided, however, that if such failure by Tenant creates or could create an emergency, Landlord may immediately commence cure of such failure and
shall thereafter be entitled to recover the costs of such cure from Tenant. Subject to Sections 17 and 18, Tenant shall bear the full uninsured cost of any repair or replacement to any part of the Project that results from damage
caused by Tenant or any Tenant Party and any repair that benefits only the Premises. 
 15. Mechanic’s Liens. Tenant
shall discharge, by bond or otherwise, any mechanic’s lien filed against the Premises or against the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10 business days after the filing
thereof, at Tenant’s sole cost and shall otherwise keep the Premises and the Project free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any lien described
herein, Landlord shall have the right, but not the obligation, to pay such claim or post a bond or otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from Tenant as
Additional Rent. If Tenant shall lease or finance the acquisition of office equipment, furnishings, or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform
Commercial Code Financing Statement filed as a matter of public record by any lessor or creditor of Tenant will upon its face or by exhibit thereto indicate that such Financing Statement is applicable only to removable personal property of Tenant
located within the Premises. In no event shall the address of the Project be furnished on the statement without qualifying language as to applicability of the lien only to removable personal property, located in an identified suite held by Tenant.

 16. Indemnification. Tenant hereby indemnifies and agrees to defend, save and hold Landlord harmless from and against
any and all Claims for injury or death to persons or damage to property occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a breach or default by Tenant in the performance of any of its
obligations hereunder, except to the extent (a) attributable to Landlord’s willful misconduct, its violation of applicable Legal Requirements with respect to the Building or the Project, or a material default of Landlord’s
obligations, or (b) for Claims solely attributable to the negligence of Landlord. Landlord shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property (including, without limitation, loss of records kept
within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income relating to any such damage or destruction of personal property (including, without limitation, any loss of records). Landlord
shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project or of any other third party that is not a Landlord Party (as defined in Section 17). 

17. Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full
replacement cost of the Project or such lesser coverage amount as Landlord may elect provided such coverage amount is not less than 90% of such full replacement cost. Landlord shall further procure and maintain commercial general liability
insurance with a single loss limit of not less than $2,000,000 for bodily injury and property damage with respect to the Project. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary,
including, but not limited to, flood, environmental hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during the period of repair or rebuilding, workers’ compensation insurance and fidelity bonds
for employees employed to perform services and insurance for any improvements installed by Tenant or which are in addition to the standard improvements 

  
 

 

			
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customarily furnished by Landlord without regard to whether or not such are made a part of the Project. All such insurance shall be included as part of the Operating Expenses. The Project may be
included in a blanket policy (in which case the cost of such insurance allocable to the Project will be determined by Landlord based upon the insurer’s cost calculations). 

Tenant, at its sole cost and expense, shall maintain during the Term: all risk property insurance, covering the full replacement cost of
all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense (excluding the Tenant Improvements); workers’ compensation insurance with no less than the minimum limits required by law; employer’s
liability insurance with such limits as required by law; and commercial general liability insurance, with a minimum limit of not less than $2,000,000 per occurrence for bodily injury and property damage with respect to the Premises, $2,000,000 in
the aggregate. The commercial general liability insurance policy shall be endorsed to name Alexandria Real Estate Equities, Inc., and Landlord, its officers, directors, employees, managers, agents, invitees and contractors and the Additional Insured
Parties (as defined in the next succeeding paragraph) (each, a “Landlord Party” and collectively, “Landlord Parties”), as additional insureds; insure, at Tenant’s option, on an occurrence or a claims-made basis
(provided; however, that such option to maintain the commercial general liability insurance policies on a claims-made basis shall apply only to Elan Pharmaceuticals, Inc., a Delaware corporation, while Elan Pharmaceuticals, Inc., a Delaware
corporation, occupies the Premises as Tenant and shall not apply to any assignee of the Lease or sublessee of the Premises or any portion thereof); be issued by insurance companies which have a rating of not less than policyholder rating of A- and
financial category rating of at least Class VIII in “Best’s Insurance Guide”; contain a hostile fire endorsement and a contractual liability endorsement; and provide primary coverage to Landlord (any policy issued to Landlord
providing duplicate or similar coverage shall be deemed excess over Tenant’s policies). Tenant shall (i) provide Landlord with 30 days advance written notice of cancellation of such commercial general liability policy, and
(ii) require Tenant’s insurer to endeavor to provide 30 days advance written notice of cancellation of such commercial general liability policy. Certificates of insurance showing the limits of coverage required hereunder and showing
Landlord as an additional insured, shall be delivered to Landlord by Tenant upon commencement of the Term and upon each renewal or replacement of said insurance and, to the extent required by the Holder of any Mortgage encumbering the Property,
Tenant shall provide to such Holder copies of such policies or endorsements to such policies reflecting Holder as an additional insured within 30 days following Tenant’s receipt of Holder’s written request therefor. Tenant’s insurance
policy may be in the form of a “blanket policy” with an aggregate per location endorsement which specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy. 

In each instance where insurance is to name Landlord as an additional insured, Tenant shall upon written request of Landlord also
designate and furnish certificates so evidencing Landlord as additional insured to the following parties (collectively “Additional Insured Parties”): (i) any lender of Landlord holding a security interest in the Project or any
portion thereof and any servicer in connection therewith, (ii) the landlord under any lease wherein Landlord is tenant of the real property on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a
ground or other underlying lease rather than that of a fee owner, (iii) any management company retained by Landlord to manage the Project, (iv) the condominium association with respect to the Condominium, (v) any member, partner or
shareholder of Landlord or the owner of any beneficial interest therein and/or (vi) any other party reasonably designated by Landlord. 
 Notwithstanding anything to the contrary contained herein, If the commercial general liability insurance policies required to be maintained by Tenant under this Lease are at any time on a claims-made
basis, Tenant shall insure Landlord and the Landlord Parties from and against any liability arising with respect to acts and occurrences intended to be covered by such commercial general liability insurance policies for a period of not less than 3
years following the termination of this Lease (the “Tail Liability”). If, at any time, Tenant fails to maintain insurance covering the Tail Liability, then for the full duration of the period that the Tail Liability is not fully
covered by one or more policies of insurance written with a third party insurance company which company satisfies the requirements of this Section 17, (i) Tenant shall be deemed to have irrevocably elected to self insure the Tail
Liability and Tenant shall be 

  
 

 

			
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solely responsible for paying any losses that should have been paid had Tenant maintained insurance covering the Tail Liability, and (ii) Landlord shall have the right to obtain insurance
covering the Tail Liability and Tenant shall be required, immediately upon request from Landlord, to reimburse Landlord for the cost of such insurance. The provisions of this paragraph shall survive the expiration or earlier termination of this
Lease. 
 The property insurance obtained by Landlord and Tenant shall include a waiver of subrogation by the insurers and all
rights based upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors (“Related Parties”), in connection with any loss or damage
thereby insured against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property insurance required to be maintained hereunder, and each party waives any
claims against the other party, and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord and its respective Related Parties shall not be liable for, and Tenant
hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from any accident or occurrence in or upon the Premises or the Project from
any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released but shall be secondary to the other’s insurer. 

Landlord may require insurance policy limits to be raised to conform with requirements of Landlord’s lender and/or to bring coverage
limits to levels then being generally required of new tenants within the Project; provided, however, that the increased amount of coverage is consistent with coverage amounts then being required by institutional owners of similar projects with
comparable tenants occupying similar size premises in the geographical area in which the Project is located. 
 18.
Restoration. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured casualty, Landlord shall notify Tenant within 60 days after discovery of such damage as to the amount of time
Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration
Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election
to restore, Tenant may elect to terminate this Lease by written notice to Landlord delivered within 10 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period.
Unless either Landlord or Tenant so elects to terminate this Lease, Landlord shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises (excluding the
improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising from the collection of insurance proceeds or from Force Majeure events; provided, however, that if repair or restoration of the Premises
is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written
notice to Landlord delivered within 10 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord and Tenant shall each be relieved of its
obligations to make repairs or restoration and this Lease shall terminate as of the date that is 75 days after discovery of such damage or destruction, but Landlord shall retain any Rent paid and the right to any Rent payable by Tenant prior to the
earlier of (A) such election by Landlord or Tenant, or (B) the termination date of the Lease. 
 Tenant, at its
expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure (as defined in Section 34) events, all repairs or restoration not required to be done by Landlord and shall promptly
re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease upon written notice to the other if the Premises are damaged during the last year of
the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage; provided, 

  
 

 

			
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however, that such notice is delivered within 10 business days after the date that Landlord provides Tenant with written notice of the estimated Restoration Period. Landlord shall also have the
right to terminate this Lease if insurance proceeds are not available for such restoration. Rent shall be abated from the date of discovery of such damage or destruction until the Premises are repaired and restored, in the proportion which the area
of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable to Tenant, in Tenant’s reasonable discretion, for the
temporary conduct of Tenant’s business. Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to terminate the Lease by reason of damage or casualty loss. 

The provisions of this Lease, including this Section 18, constitute an express agreement between Landlord and Tenant with
respect to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation which is now or may hereafter be in effect shall have no application to this Lease or any damage
or destruction to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section 18 sets forth their entire understanding and agreement with respect to such matters.

 19. Condemnation. If the whole or any material part of the Premises or the Project (which expressly includes the
parking rights of Tenant in the parking areas serving the Project) is taken for any public or quasi-public use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a
“Taking” or “Taken”), and the Taking would in Landlord’s reasonable judgment, materially interfere with or impair Landlord’s ownership or operation of the Project or would in the reasonable judgment of
Landlord and Tenant either prevent or materially interfere with Tenant’s use of the Premises (as resolved, if the parties are unable to agree, by arbitration by a single arbitrator with the qualifications and experience appropriate to resolve
the matter and appointed pursuant to and acting in accordance with the rules of the American Arbitration Association), then upon written notice by Landlord this Lease shall terminate and Rent shall be apportioned as of said date. If part of the
Premises shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises and the Project as nearly as is commercially reasonable under the circumstances to their condition prior to such partial Taking
(including, but not limited to, providing reasonable replacement parking spaces if the parking areas are affected) and the rentable square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Excess Operating
Expenses and the Rent payable hereunder during the unexpired Term shall be reduced to such extent as may be fair and reasonable under the circumstances. Upon any such Taking, Landlord shall be entitled to receive the entire price or award from any
such Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award, except as provided in the following sentence. Tenant shall have the right to make a separate claim against the condemning
authority (but not Landlord) for such compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s trade fixtures only, if a separate award for such items is made to Tenant. Tenant hereby waives
any and all rights it might otherwise have pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the Project. 
 20. Events of Default. Each of the following events shall be a default (“Default”) by Tenant under this Lease: 
 (a) Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure
any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law. 

(b) Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or terminated or shall
expire or shall be reduced or materially changed below the coverage required to be maintained by Tenant pursuant to this Lease, or Landlord shall receive a notice of nonrenewal of any such insurance and Tenant shall fail to obtain replacement
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expiration of the current coverage; provided, however, that if the insurance required to be maintained by Tenant pursuant to this Lease is canceled or terminated solely as a result of reasons
entirely outside of Tenant’s control of which Tenant had no reasonable advance notice, a Default will not be deemed to have occurred hereunder so long as such policy is renewed or replaced by Tenant within 3 business days of Tenant’s
receipt of notice of such cancellation or termination. 
 (c) Abandonment. Tenant shall abandon the Premises. Tenant
shall not be deemed to have abandoned the Premises if (i) Tenant provides Landlord with reasonable advance notice prior to vacating and, (ii) Tenant has made reasonable arrangements with Landlord for the security of the Premises for the
balance of the Term, and (iii) Tenant continues during the balance of the Term to satisfy all of its obligations under the Lease as they come due. 
 (d) Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any portion of Tenant’s interest in this Lease or the Premises except as expressly
permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise judicially seized and such action is not released within 90 days of the action. 

(e) Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien placed upon the Premises in violation of
this Lease within 10 business days after any such lien is filed against the Premises. 
 (f) Insolvency Events. Tenant or
any guarantor or surety of Tenant’s obligations hereunder shall: (A) make a general assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered on its behalf
as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar
official for it or for all or of any substantial part of its property (collectively a “Proceeding for Relief”); (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry;
or (D) die or suffer a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity), except
as a result of a merger, consolidation or corporate reorganization, or the purchase of all or substantially all of the assets or ownership interests of Tenant in connection with a Permitted Assignment (as defined in Section 22). 

(g) Estoppel Certificate or Subordination Agreement. Tenant fails to execute any document required from Tenant under Sections 23
or 27 within 5 days after a second notice requesting such document. 
 (h) Other Defaults. Tenant shall fail to comply
with any provision of this Lease other than those specifically referred to in this Section 20, and, except as otherwise expressly provided herein, such failure shall continue for a period of 30 days after written notice thereof from Landlord to
Tenant. 
 Any notice given under Section 20(h) hereof shall: (i) specify the alleged default, (ii) demand that Tenant cure such
default, (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed a forfeiture or a termination of this Lease unless Landlord elects otherwise
in such notice; provided that if the nature of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure, then Tenant shall not be deemed to be in
default if Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure shall be completed no later than 90 days from the date of Landlord’s notice.

 21. Landlord’s Remedies. 
 (a) Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of Tenant hereunder, make such payment or perform such act.

  
 

 

			
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All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate
permitted by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any damages resulting from
Tenant’s Default hereunder. 
 (b) Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due
will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges
which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional
sum of 6% of the overdue Rent as a late charge. Notwithstanding the foregoing, before assessing a late charge the first time in any calendar year, Landlord shall provide Tenant written notice of the delinquency and will waive the right if Tenant
pays such delinquency within 5 days thereafter. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid
when due shall bear interest at the Default Rate from the 5th business day after the date due until paid. 
 (c)
Remedies. Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one
or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever. No cure in whole or in part of such Default by Tenant after Landlord has taken any action beyond giving Tenant
notice of such Default to pursue any remedy provided for herein (including retaining counsel to file an action or otherwise pursue any remedies) shall in any way affect Landlord’s right to pursue such remedy or any other remedy provided
Landlord herein or under law or in equity, unless Landlord, in its sole discretion, elects to waive such Default. 
 (i) This
Lease and the Term and estate hereby granted are subject to the limitation that whenever a Default shall have happened and be continuing, Landlord shall have the right, at its election, then or thereafter while any such Default shall continue and
notwithstanding the fact that Landlord may have some other remedy hereunder or at law or in equity, to give Tenant written notice of Landlord’s intention to terminate this Lease on a date specified in such notice, which date shall be not less
than 5 days after the giving of such notice, and upon the date so specified, this Lease and the estate hereby granted shall expire and terminate with the same force and effect as if the date specified in such notice were the date hereinbefore fixed
for the expiration of this Lease, and all right of Tenant hereunder shall expire and terminate, and Tenant shall be liable as hereinafter in this Section 21(c) provided. If any such notice is given, Landlord shall have, on such date so
specified, the right of re-entry and possession of the Premises and the right to remove all persons and property therefrom and to store such property in a warehouse or elsewhere at the risk and expense, and for the account, of Tenant. Should
Landlord elect to re-enter as herein provided or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may from time to time re-let the Premises or any part thereof for such term or
terms and at such rental or rentals and upon such terms and conditions as Landlord may deem advisable, with the right to make commercially reasonable alterations in and repairs to the Premises. 

(ii) In the event of any termination of this Lease as in this Section 21 provided or as required or permitted by law or in
equity, Tenant shall forthwith quit and surrender the Premises to Landlord, and Landlord may, without further notice, enter upon, re-enter, possess and repossess the same by summary proceedings, ejectment or otherwise, and again have, repossess and
enjoy the same as if this Lease had not been made, and in any such event Tenant and no person claiming through or under Tenant by virtue of any law or an order of any court shall be entitled to possession or to remain in possession of the Premises.
Landlord, at its option, notwithstanding any other provision of this Lease, shall be entitled to recover from Tenant, as and for liquidated damages, the sum of: 

  
 

 

			
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 (A) all Base Rent, Additional Rent and other amounts payable by Tenant
hereunder then due or accrued and unpaid: and 
 (B) the amount equal to the aggregate of all unpaid Base Rent
and Additional Rent which would have been payable if this Lease had not been terminated prior to the end of the Term then in effect, discounted to its then present value in accordance with accepted financial practice using a rate of 5% per
annum, for loss of the bargain; and 
 (C) all other damages and expenses (including attorneys’ fees and
expenses), if any, which Landlord shall have sustained by reason of the breach of any provision of this Lease; less 
 (D) the net proceeds of any re-letting actually received by Landlord and the amount of damages which Tenant proves could have been avoided had Landlord taken reasonable steps to mitigate its damages.

 (iii) Nothing herein contained shall limit or prejudice the right of Landlord, in any bankruptcy or insolvency proceeding, to
prove for and obtain as liquidated damages by reason of such termination an amount equal to the maximum allowed by any bankruptcy or insolvency proceedings, or to prove for and obtain as liquidated damages by reason of such termination, an amount
equal to the maximum allowed by any statute or rule of law, but in each case not more than the amount to which Landlord would otherwise be entitled under this Section 21. 

(iv) Nothing in this Section 21 shall be deemed to affect the right of either party to indemnifications pursuant to this
Lease. 
 (v) If Landlord terminates this Lease upon the occurrence of a Default, Tenant will quit and surrender the Premises to
Landlord or its agents, and Landlord may, without further notice, enter upon, re-enter and repossess the Premises by summary proceedings, ejectment or otherwise. The words “enter”, “re-enter”, and “re-entry” are not
restricted to their technical legal meanings. 
 (vi) If either party shall be in default in the observance or performance of
any provision of this Lease, and an action shall be brought for the enforcement thereof, the non-prevailing party shall pay to the prevailing party all fees, costs and other expenses which may become payable as a result thereof or in connection
therewith, including attorneys’ fees and expenses. 
 (vii) If Tenant shall default in the keeping, observance or
performance of any covenant, agreement, term, provision or condition herein contained, Landlord, without thereby waiving such default, may perform the same for the account and at the expense of Tenant (a) immediately or at any time thereafter
and without notice in the case of emergency or in case such default will result in a violation of any legal or insurance requirements, or in the imposition of any lien against all or any portion of the Premises (but only after Tenant has failed to
respond to such lien as permitted by Section 15 within the time period provided in Section 15), and (b) in any other case if such default continues after any applicable notice and cure period provided in
Section 21. All reasonable costs and expenses incurred by Landlord in connection with any such performance by it for the account of Tenant and also all reasonable costs and expenses, including attorneys’ fees and disbursements
incurred by Landlord in any action or proceeding (including any summary dispossess proceeding) brought by Landlord to enforce any obligation of Tenant under this Lease and/or right of Landlord in or to the Premises, shall be paid by Tenant to
Landlord within 10 days after demand. 
 (viii) Independent of the exercise of any other remedy of Landlord hereunder or under
applicable law, Landlord may conduct an environmental test of the Premises as generally described in Section 30(c), at Tenant’s expense, to the extent provided in Section 30(d). 

  
 

 

			
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 (ix) In the event that Tenant is in breach or Default under this Lease, whether or not
Landlord exercises its right to terminate or any other remedy, Tenant shall reimburse Landlord upon demand for any reasonable costs and expenses that Landlord may incur in connection with any such breach or Default, as provided in this
Section 21(c). Such costs shall include reasonable legal fees and costs incurred for the negotiation of a settlement, enforcement of rights or otherwise. Tenant shall also indemnify Landlord against and hold Landlord harmless from all
reasonable costs, expenses, demands and liability, including without limitation, reasonable legal fees and costs Landlord shall incur if Landlord shall become or be made a party to any claim or action instituted by Tenant against any third party, or
by any third party against Tenant, or by or against any person holding any interest under or using the Premises by license of or agreement with Tenant. 
 (x) Except as otherwise provided in this Section 21, no right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and every right
and remedy shall be cumulative and in addition to any other legal or equitable right or remedy given hereunder, or now or hereafter existing. No waiver of any provision of this Lease shall be deemed to have been made unless expressly so made in
writing. Landlord shall be entitled, to the extent permitted by law, to seek injunctive relief in case of the violation, or attempted or threatened violation, of any provision of this Lease, or to seek a decree compelling observance or performance
of any provision of this Lease, or to seek any other legal or equitable remedy. 
 22. Assignment and Subletting.

 (a) General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in
this Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant any
concession or license within the Premises, and any attempt to do any of the foregoing shall be void and of no effect. Except as otherwise provided in Section 22(b) in connection with a Permitted Assignment, if Tenant is a corporation,
partnership or limited liability company, the shares or other ownership interests thereof which are not actively traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers whereby 50.1% or more of the issued
and outstanding shares or other ownership interests of such corporation are, or voting control is, transferred (but excepting transfers on any national exchange as long as Tenant is publicly traded or upon deaths of individual owners) from a person
or persons or entity or entities which were owners thereof at time of execution of this Lease to persons or entities who were not owners of shares or other ownership interests of the corporation, partnership or limited liability company at time of
execution of this Lease, shall be deemed an assignment of this Lease requiring the consent of Landlord as provided in this Section 22. Notwithstanding the foregoing, any (i) public offering of shares or other ownership interest in
Tenant, or (ii) Tenant obtaining financing from institutional investors (including venture capital funding and corporate partners) which results in a change in control of Tenant shall not constitute an assignment under this
Section 22 requiring Landlord consent. 
 (b) Permitted Transfers. If Tenant desires to assign, sublease,
hypothecate or otherwise transfer this Lease or sublet the Premises other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45 business days, before the date Tenant desires the assignment
or sublease to be effective (the “Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or sublessee, including the proposed use of
the Premises and any Hazardous Materials proposed to be used, stored handled, treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the proposed assignee or sublessee, and all
material terms and conditions of the proposed assignment or sublease, including a copy of any proposed assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary or appropriate to its consideration
whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse such consent, in its reasonable discretion; or
(iii) terminate this Lease with respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”), in 

  
 

 

			
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Landlord’s sole and absolute discretion, if the proposed assignment, hypothecation or other transfer or subletting concerns more than (together with all other then effective subleases and
assignment other than Permitted Assignments) 50% of the Premises and the remainder (or substantially all of the remainder) of the Term. Among other reasons, it shall be reasonable for Landlord to withhold its consent in any of these
instances: (1) the proposed assignee or subtenant is a governmental agency; (2) in Landlord’s reasonable judgment, the use of the Premises by the proposed assignee or subtenant would entail any alterations that would lessen the
value of the leasehold improvements in the Premises, or would require increased services by Landlord; (3) the proposed assignee or subtenant is engaged in areas of scientific research or other business concerns that are reasonably considered by
Landlord to be controversial; (4) in Landlord’s reasonable judgment, the proposed assignee or subtenant lacks the creditworthiness to support the financial obligations it will incur under the proposed assignment or sublease; (5) in
Landlord’s reasonable judgment, the character, reputation, or business of the proposed assignee or subtenant is inconsistent with the desired tenant-mix or the quality of other tenancies in the Project or is inconsistent with the type and
quality of the nature of the Building; (6) Landlord has experienced previous defaults by or is in litigation with the proposed assignee or subtenant; (7) the use of the Premises by the proposed assignee or subtenant will violate any
applicable Legal Requirement; (8) the proposed assignee or subtenant is an entity with whom Landlord is negotiating to lease space in the Project; or (9) the assignment or sublease is prohibited by Landlord’s lender. Landlord shall
respond in a timely manner to any Assignment Notice received from Tenant pursuant to this paragraph. If Landlord delivers notice of its election to exercise an Assignment Termination, Tenant shall have the right to withdraw such Assignment Notice by
written notice to Landlord of such election within 5 business days after Landlord’s notice electing to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice, this Lease shall continue in full force and effect. If
Tenant does not withdraw such Assignment Notice, this Lease, and the term and estate herein granted, shall terminate as of the Assignment Date with respect to the space described in such Assignment Notice. No failure of Landlord to exercise any such
option to terminate this Lease, or to deliver a timely notice in response to the Assignment Notice, shall be deemed to be Landlord’s consent to the proposed assignment, sublease or other transfer. Tenant shall pay to Landlord a fee of up to One
Thousand Five Hundred Dollars ($1,500) of Landlord’s out-of-pocket expenses in connection with its consideration of any Assignment Notice and/or its preparation or review of any consent documents. For all purposes of this Lease, the term
“Tenant” shall mean Tenant and any transferee pursuant to a Permitted Assignment assuming Tenant’s interest in the Lease. Landlord acknowledges and agrees that Landlord’s right under this Section 22(b) to receive
notice in the case of a Permitted Assignment is not intended to create a consent right in favor of Landlord as to a transaction constituting a Permitted Assignment but rather the right to receive prior notice of a Permitted Assignment and Landlord
shall treat all non-public information made available by Tenant to Landlord regarding the proposed Permitted Assignment as confidential. Notwithstanding the foregoing, Landlord’s consent to an assignment of this Lease or a subletting of any
portion of the Premises to any entity controlling, controlled by or under common control with Tenant (a “Control Permitted Assignment”) shall not be required, provided that Landlord shall have the right to approve the form of any
such sublease or assignment. In addition, Tenant shall have the right to assign this Lease, upon 30 days prior written notice to Landlord but without obtaining Landlord’s prior written consent, to a corporation or other entity which is a
successor-in-interest to Tenant, by way of merger, consolidation or corporate reorganization, or by the purchase of all or substantially all of the assets or the ownership interests of Tenant provided that (i) such merger or consolidation, or
such acquisition or assumption, as the case may be, is for a good business purpose and not principally for the purpose of transferring the Lease, and (ii) the tangible net worth (as determined in accordance with generally accepted accounting
principles (“GAAP”)) of the assignee or any entity guaranteeing (pursuant to an agreement in form and content acceptable to Landlord, in its reasonable discretion) the assignee’s obligations under this Lease is not less than
$50,000,000 (as determined in accordance with GAAP), and (iii) such assignee shall agree in writing to assume all of the terms, covenants and conditions of this Lease arising after the effective date of the assignment (a “Corporate
Permitted Assignment”). Control Permitted Assignments and Corporate Permitted Assignments are hereinafter referred to as “Permitted Assignments.” 
 (c) Additional Conditions. As a condition to any such assignment or subletting, whether or not Landlord’s consent is required, Landlord may require: 

  
 

 

			
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 (i) that any assignee or subtenant agree, in writing at the time of such assignment or
subletting, that if Landlord gives such party notice that Tenant is in Default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be received by Landlord without any
liability except to credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason; provided, however, in
no event shall Landlord or its successors or assigns be obligated to accept such attornment; and 
 (ii) A list of Hazardous
Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies of all
documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including,
without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be
permitted after Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all federal, state and local
Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord with any portion(s) of the
such documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities and Tenant or any proposed assignee or subtenant may redact such proprietary
information from such documents prior to providing them to Landlord. 
 (d) No Release of Tenant, Sharing of Excess
Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment of Rent and for compliance
with all of Tenant’s other obligations under this Lease. Except in the case of a Permitted Assignment, if the Rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any
bonus or other consideration therefor or incident thereto in any form) exceeds the sum of the rental payable under this Lease (excluding however, any Rent payable under this Section and actual and reasonable brokerage fees, legal costs and any
design or construction fees directly related to and required pursuant to the terms of any such sublease) (“Excess Rent”), then Tenant shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent
within 10 days following receipt thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any
such subletting, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until
the occurrence of a Default, Tenant shall have the right to collect such rent. 
 (e) No Waiver. The consent by Landlord
to an assignment or subletting shall not relieve Tenant or any assignees of this Lease or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release Tenant or any assignee or
sublessee of Tenant from full and primary liability under the Lease. The acceptance of Rent hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be deemed to be a
waiver of any of the provisions of this Lease or a consent to any subletting, assignment or other transfer of the Premises. 

23. Estoppel Certificate. Tenant shall, within 10 business days of written notice from Landlord, execute, acknowledge and deliver
a statement in writing in any form reasonably requested by a proposed lender or purchaser, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that
this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii)

  
 

 

			
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acknowledging, to Tenant’s actual knowledge, that there are not any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (iii) setting
forth such further information, to Tenant’s actual knowledge, with respect to the status of this Lease or the Premises as may be requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any
portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such time shall, at the option of Landlord, constitute a Default under Section 20(g) of this Lease (subject to the cure
right set forth therein), and, in the event that such Default is not timely cured by Tenant, shall be conclusive upon Tenant that the Lease is in full force and effect and without modification except as may be represented by Landlord in any
certificate prepared by Landlord and delivered to Tenant for execution. 
 24. Quiet Enjoyment. So long as Tenant is not
in Default under this Lease, Tenant shall, subject to the terms of this Lease, at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord. 

25. Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360 day year and 30 day
months. 
 26. Rules and Regulations. Tenant shall, at all times during the Term and any extension thereof, comply with
all reasonable rules and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. The current rules and regulations are attached hereto as Exhibit E. If there is any conflict
between said rules and regulations and other provisions of this Lease, the terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the
Project and shall not enforce such rules and regulations in a discriminatory manner. 
 27. Subordination. This Lease and
Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements,
renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder,
Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute,
acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s
quiet enjoyment of the Premises as set forth in Section 24 hereof and deliver any such instrument within 10 business days following Landlord’s request. Notwithstanding the foregoing, any such Holder may at any time subordinate its
Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event
such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage”
whenever used in this Lease shall be deemed to include ground leases, deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the ground lessor
under a ground lease, the beneficiary under a deed of trust, and any other secured party under an encumbrance secured by a security interest in Landlord’s interest in the Project or Premises. Tenant acknowledges that the Holder of the current
Mortgage is not required to and has no obligation to provide an SNDA in connection with this Lease. Notwithstanding the foregoing, Landlord agrees, at Landlord’s cost and expense, to use reasonable efforts to cause the Holder of the current
Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder, which Tenant acknowledges that Tenant has
reviewed and approved. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease. 

  
 

 

			
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 28. Surrender. Upon the expiration of the Term or earlier termination of
Tenant’s right of possession, Tenant shall surrender the Premises to Landlord in the same condition as received, subject to any Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous Materials brought
upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party, broom clean, ordinary wear and tear and casualty loss and condemnation covered by
Sections 18 and 19 excepted. 
 Tenant shall immediately return to Landlord all keys and/or access cards to
parking, the Project, restrooms or all or any portion of the Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election, either the cost of replacing such
lost access card or key or the cost of reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and property not so removed by Tenant
as permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and/or
disposition of such property. All obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination of
the Term, including, without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises. 
 29. Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT,
TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 

30. Environmental Requirements. 
 (a) Prohibition/Compliance. Except for Hazardous Material contained in products customarily used by tenants in de minimis quantities for ordinary cleaning and office purposes, Tenant shall not
permit or cause any party to bring any Hazardous Material upon the Premises or the Project or use, store, handle, treat, generate, manufacture, transport, release or dispose of any Hazardous Material in, on or from the Premises or the Project
without Landlord’s prior written consent which may be withheld in Landlord’s sole discretion. Tenant, at its sole cost and expense, shall operate its business in the Premises in strict compliance with all Environmental Requirements and
shall remove or remediate in a manner satisfactory to Landlord any Hazardous Materials released on or from the Project by Tenant or any Tenant Party. Tenant shall complete and certify disclosure statements as requested by Landlord from time to time
relating to Tenant’s use, storage, handling, treatment, generation, manufacture, transportation, release or disposal of Hazardous Materials on or from the Premises. The term “Environmental Requirements” means all applicable
present and future statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to health, safety, or environmental conditions on, under, or about the Premises or
the Project, or the environment, including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act; and all state and local counterparts thereto, and any
regulations or policies promulgated or issued thereunder. The term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant listed or defined as hazardous or toxic, or regulated by reason of
its impact or potential impact on humans, animals and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof, natural gas liquids, liquefied natural gas, or synthetic gas usable
for fuel (or mixtures of natural gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s “facility” and the “owner”
of all Hazardous Materials brought on the Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom. 

  
 

 

			
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 (b) Indemnity. Tenant hereby indemnifies and shall defend and hold Landlord, its
officers, directors, employees, agents and contractors harmless from any and all actions (including, without limitation, remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or judgments arising out of or
resulting therefrom), costs, claims, damages (including, without limitation, punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the Premises or any portion of the
Project), expenses (including, without limitation, attorneys’, consultants’ and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative or criminal
penalties, injunctive or other relief (whether or not based upon personal injury, property damage, or contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively,
“Environmental Claims”) which arise during or after the Term as a result of such contamination. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site
conditions or any cleanup, remedial, removal, or restoration work required by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises. Without
limiting the foregoing, if the presence of any Hazardous Materials on the Premises, the Building, the Project or any adjacent property caused or permitted by Tenant or any Tenant Party results in any contamination of the Premises, the Building, the
Project or any adjacent property, Tenant shall promptly take all actions at its sole expense and in accordance with applicable law as are necessary to return the Premises, the Building, the Project or any adjacent property to the condition existing
prior to the time of such contamination, provided that Landlord’s approval of such action shall first be obtained, which approval shall not unreasonably be withheld so long as such actions would not potentially have any material adverse
long-term or short-term effect on the Premises, the Building or the Project. Notwithstanding anything to the contrary contained in Section 28 or this Section 30, Tenant shall not be responsible for, and the indemnification
and hold harmless obligation set forth in this paragraph shall not apply to (i) contamination in the Premises which Tenant can prove to Landlord’s reasonable satisfaction existed in the Premises immediately prior to the date of this Lease,
or (ii) the presence of any Hazardous Materials in the Premises which Tenant can prove to Landlord’s reasonable satisfaction migrated from outside of the Premises into the Premises, unless in either case, the presence of such Hazardous
Materials (x) is the result of a breach by Tenant of any of its obligations under this Lease, or (y) was caused, contributed to or exacerbated by Tenant or any Tenant Party. 

(c) Landlord’s Tests. Landlord shall have access to, and a right to perform inspections and tests of, the Premises to
determine Tenant’s compliance with Environmental Requirements, its obligations under this Section 30, or the environmental condition of the Premises or the Project. In connection with such testing, upon the reasonable request of
Landlord, Tenant shall deliver to Landlord or its consultant such non-proprietary information concerning the use of Hazardous Materials in or about the Premises by Tenant or any Tenant Party. Access shall be granted to Landlord upon Landlord’s
prior notice to Tenant and at such times so as to minimize, so far as may be reasonable under the circumstances, any disturbance to Tenant’s operations. Such inspections and tests shall be conducted at Landlord’s expense, unless such
inspections or tests reveal that Tenant has not complied with any Environmental Requirement, in which case Tenant shall reimburse Landlord for the reasonable cost of such inspection and tests. Tenant shall, at its sole cost and expense, promptly and
satisfactorily remediate any environmental conditions identified by such testing for which Tenant is responsible under this Section 30 in accordance with all Environmental Requirements. Landlord’s receipt of or satisfaction with any
environmental assessment in no way waives any rights that Landlord may have against Tenant. 
 (d) Tenant’s
Obligations. Tenant’s obligations under this Section 30 shall survive the expiration or earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or
Landlord to complete the removal from the Premises of any Hazardous Materials for which Tenant is liable under this Section 30 (including, without limitation, the release and termination of any licenses or permits restricting the use of
the Premises), Tenant shall continue to pay the full Rent in accordance with this Lease for any portion of the Premises that cannot be relet by Landlord due to Tenant’s failure to remediate a Hazardous Materials condition for which Tenant is
liable under this Section 30, which Rent shall be prorated daily. 

  
 

 

			
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 31. Tenant’s Remedies/Limitation of Liability. Landlord shall not be in
default hereunder unless Landlord fails to perform any of its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of the obligation, require a period of time
in excess of 30 days, then after such period of time as is reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any
lease of property in or on which the Premises are located and Tenant shall offer such Holder and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Project by power of sale or a judicial action if
such should prove necessary to effect a cure; provided Landlord shall have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord hereunder shall be construed as
covenants, not conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. 

All obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises and
not thereafter. The term “Landlord” in this Lease shall mean only the owner for the time being of the Premises. Upon the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged
from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each new owner for the duration of such owner’s ownership. Notwithstanding the foregoing, to the extent that the Landlord
originally named in this Lease (“Original Landlord”) assigns or otherwise transfers its interest in the Project prior to the distribution of the entire TI Allowance timely requested by Tenant pursuant to the Work Letter, then
Alexandria Real Estate Equities, Inc. and Original Landlord shall remain personally, jointly and severally responsible for the distribution of any remaining TI Allowance to which Tenant is entitled pursuant to the Work Letter following such
assignment of transfer. 
 32. Inspection and Access. Landlord and its agents, representatives, and contractors may enter
the Premises at any reasonable time during normal business hours (except in the case of an emergency) to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose.
Landlord and Landlord’s representatives may enter the Premises during business hours on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be required and such entry may be at any
time) for the purpose of effecting any such repairs, inspecting the Premises, showing the Premises to prospective purchasers and, during the last year of the Term, to prospective tenants or for any other business purpose. Landlord may erect a
suitable sign on the Premises during the last 9 months of the Term, that the Premises are available to let. Landlord may grant easements, make public dedications, designate Common Areas and create restrictions on or about the Premises,
provided that no such easement, dedication, designation or restriction materially, adversely affects Tenant’s use or occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as
may be necessary for such easements, dedications or restrictions. Tenant shall at all times, except in the case of emergencies, have the right to escort Landlord or its agents, representatives, contractors or guests while the same are in the
Premises, provided such escort does not materially and adversely affect Landlord’s access rights hereunder. Landlord shall use reasonable efforts to comply with Tenant’s reasonable security, confidentiality and safety requirements with
respect to entering restricted portions of the Premises; provided, however, that Tenant has notified Landlord of such security, confidentiality and safety requirements simultaneously with or prior to Landlord’s entry into the Premises.
Notwithstanding anything to the contrary contained in this Lease, if Tenant installs any additional or replacement locks or bolts on any doors or windows in the Premises, Tenant shall concurrently therewith deliver to Landlord copies of any keys,
key cards or codes required to open or unlock such additional or replacement locks or bolts. 
 33. Security. Tenant
acknowledges and agrees that security devices and services, if any, while intended to deter crime may not in given instances prevent theft or other criminal acts and that Landlord is not providing any security services with respect to the Premises.
Tenant agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry

  
 

 

			
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into the Premises or any other breach of security with respect to the Premises. Tenant shall be solely responsible for the personal safety of Tenant’s officers, employees, agents,
contractors, guests and invitees while any such person is in, on or about the Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent Tenant desires protection against such criminal acts. 

34. Force Majeure. Except for the payment of Rent, neither Landlord nor Tenant shall be held responsible or liable for delays in
the performance of its obligations hereunder when caused by, related to, or arising out of acts of God, sinkholes or subsidence, strikes, lockouts, or other labor disputes, embargoes, quarantines, weather, national, regional, or local disasters,
calamities, or catastrophes, inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable costs or failure of, or inability to obtain, utilities necessary for performance, governmental restrictions, orders, limitations,
regulations, or controls, national emergencies, delay in issuance or revocation of permits, enemy or hostile governmental action, terrorism, insurrection, riots, civil disturbance or commotion, fire or other casualty, and other causes or events
beyond their reasonable control (“Force Majeure”). 
 35. Brokers. Landlord and Tenant each represents
and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker) in connection with this transaction and that no Broker brought about this transaction, other than CB Richard Ellis/New England and
Cushman & Wakefield of Massachusetts. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker, other than the broker, if any named in this Section 35, claiming a
commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. 
 36. Limitation on Landlord’s Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE
TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION
TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS, LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY
AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT
WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN
RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) EXCEPT AS PROVIDED IN SECTION 31 OF THIS LEASE WITH RESPECT TO THE TI ALLOWANCE ONLY, IN NO EVENT SHALL ANY PERSONAL LIABILITY BE
ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES SHALL LANDLORD
OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM. 
 37. Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws, then and in that event, it is the intention of the parties hereto that
the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease that in lieu of each clause or provision of this Lease that is illegal, invalid or unenforceable, there be added, as a part of this
Lease, a clause or provision as similar in effect to such illegal, invalid or unenforceable clause or provision as shall be legal, valid and enforceable. 

  
 

 

			
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 38. Signs; Exterior Appearance. Tenant shall not, without the prior written
consent of Landlord, which may be granted or withheld in Landlord’s sole discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners, painting or other projection to any outside wall of the Project,
(ii) use any curtains, blinds, shades or screens visible from the exterior of the Premises or the Building other than Landlord’s standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of any windows,
(iv) place any bottles, parcels, or other articles on the window sills, (v) place any equipment, furniture or other items of personal property on any exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the
Project any signs, notices, window or door lettering, placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises. Tenant shall, at Tenant’s cost and expense, have the right to non-exclusive
signage on the third floor of the Building in the location and of a size, color and type as shown on Exhibit I attached hereto. Tenant’s name shall be inscribed, painted or affixed on the directory tablet for Tenant by Landlord at the
sole cost and expense of Tenant. 
 39. Right to Extend Term. Tenant shall have the right to extend the Term of the Lease
upon the following terms and conditions: 
 (a) Extension Right. Tenant shall have 1 right (an “Extension
Right”) to extend the term of this Lease for 5 years (an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the Work Letter) by giving Landlord written notice of its
election to exercise the Extension Right at least 9 months prior and no earlier than 12 months prior to the expiration of the Base Term of the Lease. 
 Upon the commencement of the Extension Term, Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be adjusted on each annual anniversary of the commencement of the
Extension Term by a percentage as determined by Landlord and agreed to by Tenant at the time the Market Rate is determined. As used herein, “Market Rate” shall mean the then market rental rate (including annual increases) for space
of comparable size and quality (including all Tenant Improvements, Alterations and other improvements) in laboratory/office buildings in Cambridge, Massachusetts for a comparable term, taking into account all relevant factors, including tenant
inducements, parking costs, leasing commissions, allowances or concessions, if any, at the time of Tenant’s exercise of the Extension Right. Between the date of Landlord’s receipt of the Extension Notice and that date which is ninety
(90) days thereafter (the “Extension Rent Negotiation Period”), the parties shall attempt in good faith to determine the Market Rate for the Premises during the applicable Extension Term; and if Landlord and Tenant are unable
in good faith to agree, in their respective sole discretion, upon a mutually satisfactory Market Rate (including annual Base Rent increases) by the expiration of the Extension Rent Negotiation Period, then the Market Rate will be determined in
accordance with the arbitration method as described in Section 39(b). In addition, Landlord may impose a market rent for the parking rights provided hereunder. 
 (b) Arbitration. 
 (i) Within 10 days of Tenant’s notice to Landlord
of its election (or deemed election) to arbitrate Market Rate and escalations, each party shall deliver to the other a proposal containing the Market Rate and escalations that the submitting party believes to be correct (“Extension
Proposal”). If either party fails to timely submit an Extension Proposal, the other party’s submitted proposal shall determine the Base Rent and escalations for the Extension Term. If both parties submit Extension Proposals, then
Landlord and Tenant shall meet within 7 days after delivery of the last Extension Proposal and make a good faith attempt to mutually appoint a single Arbitrator (and defined below) to determine the Market Rate and escalations. If Landlord and Tenant
are unable to agree upon a single Arbitrator, then each shall, by written notice delivered to the other within 10 days after the meeting, select an Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator, the other
party’s submitted proposal shall determine the Base Rent for the Extension Term. The 2 Arbitrators so appointed shall, within 5 business days after their appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on
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specified, then either party, on behalf of both parties, may request such appointment of such third Arbitrator by application to any state court of general jurisdiction in the jurisdiction in
which the Premises are located, upon 10 days prior written notice to the other party of such intent. 
 (ii) The decision of the
Arbitrator(s) shall be made within 30 days after the appointment of a single Arbitrator or the third Arbitrator, as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest
Arbitrators in a three Arbitrator panel shall be final and binding upon the parties. Each party shall pay the fees and expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be
borne equally by both parties. If the Market Rate and escalations are not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension
Term. After the determination of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the Market Rate and escalations for
the Extension Term. 
 (iii) An “Arbitrator” shall be any person appointed by or on behalf of either party or
appointed pursuant to the provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office and high tech industrial real
estate in the greater Cambridge metropolitan area, or (B) a licensed commercial real estate broker with not less than 15 years experience representing landlords and/or tenants in the leasing of high tech or life sciences space in the greater
Cambridge metropolitan area, (ii) devoting substantially all of their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects impartial and disinterested. 

(c) Rights Personal. The Extension Right is personal to Tenant and is not assignable without Landlord’s consent, which may be
granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of the
Lease. 
 (d) Exceptions. Notwithstanding anything set forth above to the contrary, at Landlord’s option, the
Extension Right shall not be in effect and Tenant may not exercise the Extension Right: 
 (i) during any period
of time that Tenant is in Default under any provision of this Lease; or 
 (ii) if Tenant has been in Default
under any provision of this Lease 3 or more times, whether or not the Defaults are cured, during the 12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults are cured.

 (e) No Extensions. The period of time within which the Extension Right may be exercised shall not be extended or
enlarged by reason of Tenant’s inability to exercise the Extension Right. 
 (f) Termination. The Extension Right
shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension Term,
(i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Extension
Term, whether or not such Defaults are cured. 
 40. LEED Certification. Tenant agrees to cooperate with Landlord and to
comply with measures reasonably implemented by Landlord with respect to the Building and/or the Project in connection with Landlord’s efforts to obtain a Leadership in Energy and Environmental Design (LEED) certificate for the Project. Any
measure implemented in accordance with the foregoing will be at minimal or no cost to Tenant. Landlord shall not be precluded from undertaking any retrofits, repairs or 

  
 

 

			
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replacements (including, without limitation, capital repairs and replacements) to the Premises or the Building as part of Operating Expenses in the ordinary course of maintenance or repairs
(including, without limitation, capital repairs and replacements) to the Premises or the Building, which retrofits, repairs or replacements include LEED components or satisfy LEED rating systems or any similar standard in connection with the
performance by Landlord of its obligations under this Lease so long as the cost of such LEED items is reasonably comparable to the cost of non-LEED components, taking into account any reasonably anticipated savings resulting from LEED components
over the remaining Term of this Lease. 
 41. Miscellaneous. 

(a) Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly given upon
delivery or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and
Tenant may from time to time by written notice to the other designate another address for receipt of future notices. 
 (b)
Joint and Several Liability. If and when included within the term “Tenant,” as used in this instrument, there is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant.

 (c) Financial Information. Tenant shall furnish Landlord with true and complete copies of (i) Tenant’s most
recent unaudited annual financial statements within 120 days of the end of each of Tenant’s fiscal years during the Term; provided, however, that if Tenant prepares audited annual financial statements during the Term, Tenant shall provide
Landlord with such audited annual financial statements promptly after such audited financial statements become available, (ii) Tenant’s most recent unaudited quarterly financial statements within 45 days of the end of each of Tenant’s
first three fiscal quarters of each of Tenant’s fiscal years during the Term, and (iii) any other financial information or summaries that Tenant typically provides to its lenders or shareholders. Landlord shall treat Tenant’s
financial information as confidential information belonging to Tenant and will not disclose any such materials to any third parties other than on a need-to-know basis to Landlord’s affiliates, legal, financial or tax advisors, consultants,
lenders and potential purchasers, as required by Legal Requirements or otherwise as necessary in the ordinary course of Landlord’s business. 
 (d) Recordation. Neither this Lease nor a memorandum of lease shall be filed by or on behalf of Tenant in any public record. Landlord may prepare and file, and upon request by Landlord Tenant will
execute, a memorandum of lease. Notwithstanding the foregoing, upon Tenant’s request and at Tenant’s sole cost and expense, Landlord shall prepare and file after execution by Landlord and Tenant a memorandum of lease which memorandum shall
contain only the following information and any other additional information that may be required by applicable law: (i) the names of the parties to this Lease, (ii) description of the Premises and the Project, (iii) the Term, and
(iv) Tenant’s Extension Right. If Tenant fails, after request from Landlord, to record a termination of the memorandum on the expiration or earlier termination of this Lease, Tenant shall be obligated to continue to pay Base Rent until
such time as Tenant has recorded the termination. 
 (e) Interpretation. The normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and construed to include any
other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way define, limit or otherwise describe the scope or
intent of this Lease, or any provision hereof, or in any way affect the interpretation of this Lease. 

  
 

 

			
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 (f) Not Binding Until Executed. The submission by Landlord to Tenant of this
Lease shall have no binding force or effect, shall not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution of this Lease by both parties. 

(g) Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law
governing the maximum rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest called for under this Lease, or contracted for, charged, taken,
reserved, or received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if the obligation has been or would
thereby be paid in full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without the necessity of the execution of any new document, so as to comply
with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 
 (h) Choice
of Law. Construction and interpretation of this Lease shall be governed by the internal laws of the state in which the Premises are located, excluding any principles of conflicts of laws. 

(i) Time. Time is of the essence as to the performance of Tenant’s and Landlord’s obligations under this Lease.

 (j) OFAC. Tenant is currently (a) in compliance with and shall at all times during the Term of this Lease remain
in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC
Rules”), (b) not listed on, and shall not during the Term of this Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list maintained by OFAC or other
governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules. 

(k) Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a part
hereof. If there is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control. 
 (l) Change in Form of Ownership. Pursuant to M.G.L. Chapter 183A, Section 19, Landlord reserves the right to remove all or part of the Condominium from the provisions of M.G.L. Chapter 183A.
In the event that Landlord does remove all or part of the Condominium from the provisions of M.G.L. Chapter 183A, the amounts payable by Tenant pursuant to this Lease shall not be greater than the amounts that would have been otherwise payable by
Tenant if Landlord had not removed all or part of the Condominium from the provisions of M.G.L. Chapter 183A. 
 (m) Entire
Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement between Landlord and Tenant pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters
of intent, negotiations and discussions, whether oral or written, of the parties, and there are no warranties, representations or other agreements, express or implied, made to either party by the other party in connection with the subject matter
hereof except as specifically set forth herein. 
 (n) No Accord and Satisfaction. No payment by Tenant or receipt by
Landlord of a lesser amount than the monthly installment of Base Rent or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor will any endorsement or statement on any check or letter
accompanying a check for payment of any Base Rent or Additional Rent be an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any other
remedy provided in this Lease. 

  
 

 

			
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 (o) Landlord Lien Waiver. If Tenant shall lease or finance the acquisition of any
specifically enumerated equipment/personal property not paid for in whole or in part by Landlord which Tenant is permitted under this Lease to remove at the expiration or earlier termination of this Lease, Landlord shall, upon written request from
Tenant, and at the Tenant’s sole cost and expense, enter into an agreement, utilizing Landlord’s standard form of lien waiver or another form acceptable to Landlord in its reasonable discretion, with Tenant and Tenant’s lender or
equipment lessor which agreement shall, among other things, govern the parties’ rights with respect to such specifically enumerated equipment/personal property. 
 (p) Attorneys’ Fees. If a dispute of any type arises, or an action is filed under this Lease based in contract, tort or equity, or this Lease gives rise to any other legal proceeding between
any of the parties hereto, the prevailing party shall be entitled to recover from the losing party reasonable attorneys’ fees, costs and expenses, including, but not limited to, expert witness fees, accounting and engineering fees, and any
other professional fees incurred in connection with the prosecution or defense of such action, whether the action is prosecuted to a final judgment. For purposes of this Lease, the terms “attorneys’ fees,” “costs” and
“expenses” shall also include the fees and expenses incurred by counsel to the parties hereto for photocopies, duplications, deliveries, postage, telephone and facsimile communications, transcripts of proceedings relating to the action,
and all fees billed for law clerks, paralegals, librarians, secretaries and others not admitted to the bar but performing services under the supervision of an attorney. The terms “attorneys’ fees,” “costs” and
“expenses” shall also include, without limitation, fees and costs incurred in the following proceedings: (i) mediations; (ii) arbitrations; (iii) bankruptcy proceedings; (iv) appeals; (v) post-judgment motions and
collection actions; and (vi) garnishment, levy and debtor examinations. The prevailing party shall also be entitled to reasonable attorneys’ fees and costs after any dismissal of an action. 

[Signatures on next page] 

  
 

 

			
	Gross Multi-Tenant	  	 300 Technology Square/Elan - Page
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 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year
first above written. 
  

							
	TENANT:
	
	ELAN PHARMACEUTICALS, INC.,
a Delaware corporation
		
	By:	 	 /s/ DOUGLAS LOVE

	Its:	 	 Executive Vice President

	
	LANDLORD:
	
	ARE-TECH SQUARE, LLC,
a Delaware limited liability company
		
	By:	 	ARE-MA REGION NO. 31, LLC,
a Delaware limited liability company,
its manager
			
		 	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
a Delaware limited partnership,
managing member
				
		 		 	By:	 	ARE-QRS CORP.,
a Maryland corporation,
general partner
				
		 		 	By:	 	 /s/ ERIC S. JOHNSON

		 		 	Name:	 	 Eric S. Johnson

		 		 	Title:	 	 Vice President Real Estate Legal Affairs

  
 

 

			
	Gross Multi-Tenant	  	300 Technology Square/Elan Page 1

  

 EXHIBIT A TO LEASE 

DESCRIPTION OF PREMISES 
  

 

  
 

 

			
	Gross Multi-Tenant	  	300 Technology Square/Elan Page 1

  

 EXHIBIT B TO LEASE 

DESCRIPTION OF PROJECT 
 The following parcels of land in Cambridge, Middlesex County, Massachusetts: 
 The
Registered Land shown as Lots 15,16 and 19 on Land Court Plan No. 30711E, Lot 43 on Land Court Plan No. 30711J and Lots 46 and 47 on Land Court Plan No. 30711K, and 

The Unregistered Land shown as Area No. 1, Area No. 2, Area No. 3, Area No. 4, Area No. 5, Area No. 6, Area
No. 7, Area No. 8 and Area No. 9 on a plan entitled “Plan of Land and Easements, Cambridge, Mass.” Prepared by Raymond C. Pressey, Inc., dated June 1970 and recorded with the Middlesex South Registry of Deeds in Book 11879,
Page 393, Plan 852 (A of 2) of 1970. 
 Excepting therefrom that portion taken by the Cambridge Redevelopment Authority Eminent
Domain Taking dated April 12, 1982 and recorded in Book 14590, Page 221 and that portion taken by the Cambridge Redevelopment Authority Eminent Domain Taking dated January 27, 1983 and recorded in Book 14891, Page 556. 

Said parcels are also described as Units 100, 200, 300, 400, 500, 600 and 700 of that certain condominium known as the Technology Square
Condominium, as set forth in that certain Master Deed dated November 30, 2000, executed by Technology Square LLC, and recorded with the Registry in Book 32159, at Page 490, and registered with the Land Court as Document No. 1158816, under
Certificate of Title No. C404, as the same has been amended by that certain Amendment to Master Deed dated May 28, 2002, and recorded with the Registry as Instrument No. 690 on September 6, 2002, and registered with the Land Court as
Document No. 1226564, and as the same has been amended by that certain Second Amendment to Master Deed dated as of November 15, 2002, and recorded with the Registry as Instrument No. 1617 on September 23, 2003, and registered
with the Land Court as Document No. 1293465. 
 Together with the benefit of and subject to the following: 

1. Terms and provisions of Reciprocal Easement Agreement dated April 18, 2000 by and between Technology Square LLC and the Charles
Stark Draper Laboratory, Inc. recorded in Book 31324, Page 262 and filed as Document No. 1137080, as amended by First Amendment to Reciprocal Easement Agreement dated February 6, 2003 recorded in Book 38441, Page 415 and filed as Document
No. 1261130, and as amended by Second Amendment to Reciprocal Easement Agreement dated March 26, 2004 recorded in Book 42362, Page 126 and filed as Document No. 1315537. 

2. Terms and provisions of Foundation, Grade Beam and Encroachment Agreement dated March 11, 1975, filed as Document
No. 531493, as amended by an Amendment to Foundation Grade Beam and Encroachment Agreement, dated September 1, 1976, filed as Document No. 547840, affecting Lots 19 and 20, as affected by Reciprocal Easement Agreement dated
April 18, 2000 recorded in Book 31324, Page 262 and filed as Document No. 1137080, as amended by Amendment to Foundation, Grade Beam and Encroachment Agreement, dated September 1, 1976, filed with the Registry District as Document
No. 547840, affecting Lots 19 and 20, as affected by the Reciprocal Easement Agreement. 
 All as affected by Voluntary Withdrawal from
Registration filed January 16, 2008 as Document No. 1462980. For title see Deed in Book 42269, Page 372 and Notice of Lease in Book 42269, Page 395. 

  
 

 

			
	Major Construction – Tenant Build	  	300 Technology Square/Elan Page 1

  

 EXHIBIT C TO LEASE 

WORK LETTER 
 THIS WORK LETTER dated                     , 2012 (this “Work Letter”) is made
and entered into by and between ARE-TECH SQUARE, LLC, a Delaware limited liability company (“Landlord”), and ELAN PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), and is attached to and made a
part of the Lease dated                      , 2012 (the “Lease”), by and between Landlord and Tenant. Any initially capitalized
terms used but not defined herein shall have the meanings given them in the Lease. 
 1. General Requirements.

 (a) Tenant’s Authorized Representative. Tenant designates Rick Smith (“Tenant’s
Representative”) as the only person authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication
(“Communication”) from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative. Tenant may change Tenant’s Representative at any time upon not less
than 5 business days advance written notice to Landlord. 
 (b) Landlord’s Authorized Representative. Landlord
designates Tim White and Michelle Lower (either such individual acting alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be obligated to
respond to or act upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either
Landlord’s Representative at any time upon not less than 5 business days advance written notice to Tenant. 
 (c)
Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that the architect (the “TI Architect”) for the Tenant Improvements (as defined in Section 2(a) below), the general
contractor and any subcontractors for the Tenant Improvements shall be selected by Tenant, subject to Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall be named a third party
beneficiary of any contract entered into by Tenant with the TI Architect, any consultant, any contractor or any subcontractor, and of any warranty made by any contractor or any subcontractor. 

2. Tenant Improvements. 
 (a) Tenant Improvements Defined. As used herein, “Tenant Improvements” shall mean all improvements to the Premises of a fixed and permanent nature as shown on the TI Construction
Drawings, as defined in Section 2(c) below. Other than funding the TI Allowance (as defined below) as provided herein and constructing the Demising Improvements as provided in the Lease, Landlord shall not have any obligation whatsoever
with respect to the finishing of the Premises for Tenant’s use and occupancy. 
 (b) Tenant’s Space Plans.
Landlord and Tenant acknowledge and agree that the space plan, scope of work and outline of equipment and materials specifications prepared by the TI Architect attached hereto as Schedule 1 (collectively, Space Plan”) have been
approved by both Landlord and Tenant. 
 (c) Working Drawings. Not later than 45 days following the mutual execution and
delivery of the Lease by the parties, Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction
Drawings”), which TI Construction Drawings shall be prepared substantially in accordance with the Space Plan. Tenant shall be solely responsible for ensuring that the TI Construction Drawings 

  
 

 

			
	Major Construction – Tenant Build	  	300 Technology Square/Elan Page 2

  

 
reflect Tenant’s requirements for the Tenant Improvements. Landlord shall deliver its written comments on the TI Construction Drawings to Tenant not later than 10 business days after
Landlord’s receipt of the same; provided, however, that Landlord may not disapprove any matter that is consistent with the Space Plan. Tenant and the TI Architect shall consider all such comments in good faith and shall, within 10 business days
after receipt, notify Landlord how Tenant proposes to respond to such comments. Any disputes in connection with such comments shall be resolved in accordance with Section 2(d) hereof. Provided that the design reflected in the TI
Construction Drawings is consistent with the Space Plan, Landlord shall approve the TI Construction Drawings submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 4 below, Tenant shall not materially modify
the TI Construction Drawings except as may be reasonably required in connection with the issuance of the TI Permit (as defined in Section 3(a) below). 
 (d) Approval and Completion. If any dispute regarding the design of the Tenant Improvements is not settled within 10 business days after notice of such dispute is delivered by one party to the
other, Tenant may make the final decision regarding the design of the Tenant Improvements, provided (i) Tenant acts reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions
with respect to such dispute, (ii) that all costs and expenses resulting from any such decision by Tenant shall be payable out of the TI Allowance (as defined in Section 5(b) below), and (iii) Tenant’s decision will not
affect the base Building, structural components of the Building or any Building Systems. Any changes to the TI Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in
Section 4 hereof. Notwithstanding anything to the contrary contained herein, Landlord shall have the right to make final decisions, in Landlord’s sole and absolute subjective discretion, with respect to matters concerning the
exterior components, site work, façade or other structural components of the Building or any Building System. 
 3.
Performance of the Tenant Improvements. 
 (a) Commencement and Permitting of the Tenant Improvements. Tenant
shall commence construction of the Tenant Improvements upon obtaining and delivering to Landlord a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction
Drawings approved by Landlord. The cost of obtaining the TI Permit shall be payable from the TI Allowance. Landlord shall assist Tenant in obtaining the TI Permit. Prior to the commencement of the Tenant Improvements, Tenant shall deliver to
Landlord a copy of any contract with Tenant’s contractors (including the TI Architect), and certificates of insurance from any contractor performing any part of the Tenant Improvement evidencing industry standard commercial general liability,
automotive liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause the general contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and
Landlord’s lender (if any) as additional insureds for the general contractor’s liability coverages required above. 

(b) Selection of Materials, Etc. Where more than one type of material or structure is indicated on the TI Construction Drawings
approved by Tenant and Landlord, the option will be within Tenant’s reasonable discretion if the matter concerns the Tenant Improvements, and within Landlord’s sole and absolute subjective discretion if the matter concerns the structural
components of the Building or materially affects the operation of, or maintenance requirements associated with, any Building System. 
 (c) Tenant Liability. Tenant shall be responsible for correcting any deficiencies or defects in the Tenant Improvements. 
 (d) Substantial Completion. Tenant shall substantially complete or cause to be substantially completed the Tenant Improvements in a good and workmanlike manner, in accordance with the TI Permit
subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature which do not interfere with the use of the Premises (“Substantial Completion” or “Substantially Complete”).
Upon Substantial Completion of the Tenant Improvements, Tenant shall require the TI 

  
 

 

			
	Major Construction – Tenant Build	  	300 Technology Square/Elan Page 3

  

 
Architect and the general contractor to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects
(“AIA”) document G704. For purposes of this Work Letter, “Minor Variations” shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply
with any required permit (including the TI Permit); (ii) to comport with good design, engineering, and construction practices which are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered
during the construction of the Tenant Improvements. 
 4. Changes. Any material changes requested by Tenant to the Tenant
Improvements after the approval by Landlord of the TI Construction Drawings, shall be requested and instituted in accordance with the provisions of this Section 4 and shall be subject to the written approval of Landlord, which approval
shall not be unreasonably withheld, conditioned or delayed. 
 (a) Tenant’s Right to Request Changes. If Tenant
shall request changes (“Changes”), Tenant shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request
shall detail the nature and extent of any such Change. Such Change Request must be signed by Tenant’s Representative. Landlord shall review and approve or disapprove such Change Request within 10 business days thereafter, provided that
Landlord’s approval shall not be unreasonably withheld, conditioned or delayed. 
 (b) Implementation of Changes. If
Landlord approves such Change, Tenant may cause the approved Change to be instituted. If any TI Permit modification or change is required as a result of such Change, Tenant shall promptly provide Landlord with a copy of such TI Permit modification
or change. 
 5. Costs. 
 (a) Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that will be
incurred, in connection with the design and construction of the Tenant Improvements (the “Budget”) and a schedule for Tenant’s performance and completion of the Tenant Improvements (the “Schedule”), and shall
deliver a copy of each of the Budget and Schedule to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord 

(b) TI Allowance. Landlord shall provide to Tenant a tenant improvement allowance (“TI Allowance”) of $40.00 per
rentable square foot of the Premises. The TI Allowance shall be disbursed in accordance with this Work Letter. 
 Tenant shall
have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for the construction of (i) the Tenant Improvements described in the TI Construction Drawings approved pursuant to
Section 2(d) or (ii) any Changes pursuant to Section 4. Tenant shall have no right to any portion of the TI Allowance that is not disbursed before the last day of the month that is 18 months after the Commencement Date.

 (c) Costs Includable. The TI Allowance shall be used solely for the payment of design, permits and construction costs
in connection with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities used in connection with the construction of the Tenant Improvements, the cost of preparing the Space Plan
and the TI Construction Drawings, all costs set forth in the Budget (including Tenant’s voice and data cabling) and the cost of Changes (collectively, “TI Costs”). Tenant shall have no obligation to pay Landlord and no portion
of the TI Allowance will be applied or deducted on account of any coordination, overhead or contractor supervisions fees in connection with the Tenant Improvements. Notwithstanding anything to the contrary contained herein, the TI Allowance shall
not be used to purchase any furniture, personal property or other 

  
 

 

			
	Major Construction – Tenant Build	  	300 Technology Square/Elan Page 4

  

 
non-Building system materials or equipment; provided, however, that Tenant shall have the right to use a portion of the TI Allowance reasonably acceptable to Landlord for Tenant’s voice and
data cabling. 
 (d) Excess TI Costs. Landlord shall have no obligation to bear any portion of the cost of any of the
Tenant Improvements except to the extent of the TI Allowance. Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the
TI Allowance. 
 (e) Payment for TI Costs. During the course of design and construction of the Tenant Improvements,
Landlord shall reimburse Tenant on a pro rata basis a percentage of the TI Costs (equal to the percentage that the TI Allowance bears to the total Budget, as the same may be amended from time to time) up to the amount of the TI Allowance actually
incurred by Tenant once a month against a draw request in Landlord’s standard form, containing evidence of payment of such TI Costs by Tenant and such certifications, lien waivers (including a conditional lien release for each progress payment
and unconditional lien releases for the prior month’s progress payments), inspection reports and other matters as Landlord customarily obtains, to the extent of Landlord’s approval thereof for payment, no later than 30 days following
receipt of such draw request. Upon completion of the Tenant Improvements (and prior to any final disbursement of the TI Allowance), Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and first tier
subcontractors who did the work and final, unconditional lien waivers from all such contractors and first tier subcontractors; (ii) as-built plans (one copy in print format and two copies in electronic CAD format) for such Tenant Improvements;
(iii) a certification of substantial completion in Form AIA G704, (iv) a certificate of occupancy for the Premises; and (v) copies of all operation and maintenance manuals and warranties affecting the Premises. 

6. Miscellaneous. 
 (a) Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may
be expressly set forth herein to the contrary. 
 (q) Modification. No modification, waiver or amendment of this Work
Letter or of any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 

  
 

 

			
	Major Construction – Tenant Build	  	300 Technology Square/Elan Page 5

  

 Schedule 1 

Space Plan 
  

 

  
 

 

			
	Acknowledgment of Commencement Date	  	300 Technology Square/Elan Page 1

  

 EXHIBIT D TO LEASE 

ACKNOWLEDGMENT OF COMMENCEMENT DATE 
 This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made as of this      day of             ,
        , between ARE-TECH SQUARE, LLC, a Delaware limited liability company (“Landlord”), and ELAN PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), and
is attached to and made a part of the Lease dated as of             ,          (the “Lease”), by and between Landlord and Tenant.
Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 
 Landlord and
Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is             ,
        , the Rent Commencement Date is             ,          and the expiration date of the Base Term of
the Lease shall be midnight on             ,         . In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of
Commencement Date, this Acknowledgment of Commencement Date shall control for all purposes. 
 IN WITNESS WHEREOF, Landlord and
Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above written. 
  

									
	TENANT:
	
	ELAN PHARMACEUTICALS, INC.,
a Delaware corporation
		
	By:	 	  

	Its:	 	  

	
	LANDLORD:
	
	ARE-TECH SQUARE, LLC,
a Delaware limited liability company
		
	By:	 	ARE-MA REGION NO. 31, LLC,
a Delaware limited liability company,
its manager
			
		 	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
a Delaware limited partnership,
managing member
				
		 		 	By:	 	ARE-QRS CORP.,
a Maryland corporation,
general partner
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	  

		 		 		 	Title:	 	  

  
 

 

			
	Rules and Regulations	  	300 Technology Square/Elan Page 1

  

 EXHIBIT E TO LEASE 

Rules and Regulations 
 1. The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used by them for any purpose other than ingress and egress to and from the Premises.

 2. Tenant shall not place any objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or
other areas outside of its Premises, or on the roof of the Project. 
 3. Except for animals assisting the disabled, no animals
shall be allowed in the Premises, offices, halls, or corridors in the Project. 
 4. Tenant shall not disturb the occupants of
the Project or adjoining buildings by the use of any radio or musical instrument or by the making of loud or improper noises. 

5. If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct the
electrician as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted. Any such installation or connection shall be made at Tenant’s expense. 

6. Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as
specifically approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Project. 

7. Parking any type of recreational vehicles is specifically prohibited on or about the Project. Except for the overnight parking of
operative vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about
any parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings. All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces will be
permitted except as specified by Landlord. 
 8. Tenant shall maintain the Premises free from rodents, insects and other pests.

 9. Landlord reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is
intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project. 
 10. Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good order and cleanliness. Landlord shall not be responsible to Tenant for
any loss of property on the Premises, however occurring, or for any damage done to the effects of Tenant by the janitors or any other employee or person. 
 11. Tenant shall give Landlord prompt notice of any defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights and fixtures, heating apparatus, or any other service equipment affecting the
Premises. 
 12. Tenant shall not permit storage outside the Premises, including without limitation, outside storage of trucks
and other vehicles, or dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises. 

  
 

 

			
	Rules and Regulations	  	300 Technology Square/Elan Page 2

  

 13. All moveable trash receptacles provided by the trash disposal firm for the Premises
must be kept in the trash enclosure areas, if any, provided for that purpose. 
 14. No auction, public or private, will be
permitted on the Premises or the Project. 
 15. No awnings shall be placed over the windows in the Premises except with the
prior written consent of Landlord. 
 The Premises shall not be used for lodging, sleeping or cooking or for any immoral or
illegal purposes or for any purpose other than that specified in the Lease; provided, however that cooking shall be permitted in a kitchen or employee break room. No gaming devices shall be operated in the Premises. 

16. Tenant shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the Premises, taking into
account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than such safe capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant
from the obligation not to use more electricity than such safe capacity. 
 17. Tenant assumes full responsibility for
protecting the Premises from theft, robbery and pilferage. 
 18. Tenant shall not install or operate on the Premises any
machinery or mechanical devices of a nature not directly related to Tenant’s ordinary use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted beyond the Premises. 

  
 

 

			
		  	300 Technology Square/Elan

  

 EXHIBIT F TO LEASE 

TENANT’S PERSONAL PROPERTY 
 None. 

  
 

 

			
		  	300 Technology Square/Elan

  

 EXHIBIT G TO LEASE 

DEMISING IMPROVEMENTS 
  

 

  
 

 

			
		  	300 Technology Square/Elan

  

 EXHIBIT H TO LEASE 

SERVICES 
  

 
 TECHNOLOGY SQUARE 

CLEANING SPECIFICATIONS 
 Main Entrance & Lobbies 
 Daily: 

 

	 	•	 	 Dry mop all tile and hard surface flooring. 

  

	 	•	 	 Completely wash all glass doors with glass squeeze, inside and out. 

 

	 	•	 	 Clean all door frames and door tracks. 

  

	 	•	 	 Wipe all glass sills and other horizontal surfaces. 

  

	 	•	 	 Spot clean walls where needed. 

  

	 	•	 	 Empty all trash containers and replace liners (to be furnished by customer). 

 

	 	•	 	 Sweep and wash floor (where applicable). 

  

	 	•	 	 Spot clean carpet. 

  

	 	•	 	 Vacuum all carpet. 

  
 

 

			
		  	300 Technology Square/Elan

  

 Weekly: 
  

	 	•	 	 Wipe all high reach areas 

  

	 	•	 	 Polish all door tracks 

  

	 	•	 	 Buff tile floors where applicable 

  

	 	•	 	 Wipe all wall picture frames as well as all furniture. 

 Monthly 
  

	 	•	 	 Shampoo carpets 

Elevators 
 Daily: 

 

	 	•	 	 Completely clean inside and outside of cab 

  

	 	•	 	 Spot clean ceiling 

  

	 	•	 	 Spot clean carpet 

  

	 	•	 	 Polish all stainless steel 

  

	 	•	 	 Spot clean wood, removing all prints and dirt where needed. 

 

	 	•	 	 Vacuum all door tracks 

  

	 	•	 	 Vacuum carpet / floors 

  

	 	•	 	 Wash floor 

 Weekly:

  

	 	•	 	 Polish all elevator tracks 

  
 

 

			
		  	300 Technology Square/Elan

  

 Monthly: 
  

	 	•	 	 Shampoo carpet as needed 

  

	 	•	 	 Clean ceiling vents 

Hallways 
 Daily: 

 

	 	•	 	 Empty all trash and replace liners where applicable (liners to be provided by customer) 

 

	 	•	 	 Spot clean carpet where needed 

  

	 	•	 	 Wipe all horizontal surfaces 

  

	 	•	 	 Spot clean walls, doors and door frames 

  

	 	•	 	 Clean all glass 

  

	 	•	 	 Wipe all hand rails 

  

	 	•	 	 Vacuum / sweep and wash floors 

  

	 	•	 	 Vacuum all carpets 

  

	 	•	 	 Completely clean all directories. 

 Weekly: 
  

	 	•	 	 Wipe all high reach areas 

  

	 	•	 	 Edge vacuum all carpet 

  

	 	•	 	 Wipe tops of light fixtures in stairways 

  

	 	•	 	 Wipe all wall picture frames and other wall ornaments 

  
 

 

			
		  	300 Technology Square/Elan

  

 Quarterly: 
  

	 	•	 	 Clean all ceiling vents 

  

	 	•	 	 Shampoo all carpeted areas. 

Office areas 
 Daily: 

 

	 	•	 	 Empty all trash containers and replace liners as needed (liners to be supplied by customer) 

 

	 	•	 	 Spot clean all horizontal surfaces. 

  

	 	•	 	 Spot clean all interior glass. 

  

	 	•	 	 Spot clean all light switches, walls, doors and door frames. 

 

	 	•	 	 Wipe all horizontal surfaces within normal reach. 

  

	 	•	 	 Spot clean carpets. 

  

	 	•	 	 Sweep / vacuum and wash floors. 

  

	 	•	 	 Vacuum all carpeted areas. 

Weekly: 
  

	 	•	 	 Wipe all wall picture frames. 

  

	 	•	 	 Wipe all high to reach areas. 

 Monthly: 
  

	 	•	 	 Dust all ceiling vents. 

  
 

 

			
		  	300 Technology Square/Elan

  

 Bathrooms 
 Daily: 
  

	 	•	 	 Empty all wastebaskets and replace liners (to be provided by customer) 

 

	 	•	 	 Replace all paper products (to be supplied by customer) 

 

	 	•	 	 Clean all mirrors 

  

	 	•	 	 Clean all bright work and stainless steel 

  

	 	•	 	 Spot clean walls and partitions 

  

	 	•	 	 Clean all counters and sinks 

  

	 	•	 	 Clean all toilet bowels and urinals 

  

	 	•	 	 Sweep and wash all floors 

Weekly: 
  

	 	•	 	 Dust tops of partitions 

  

	 	•	 	 Flush floor drains with water and disinfectant to prevent bad odors 

 Monthly: 
  

	 	•	 	 Completely wash down all walls, doors and partitions 

 Quarterly: 
  

	 	•	 	 Clean all ceiling vents 

  

	 	•	 	 Machine scrub all floors. 

  
 

 

			
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 Cafeteria & Kitchenettes 
 Daily: 
  

	 	•	 	 Empty all trash containers and replace liners. 

  

	 	•	 	 Clean all counter tops and sinks. 

  

	 	•	 	 Wash walls and cabinets. 

  

	 	•	 	 Clean all bright work. 

  

	 	•	 	 Sweep and wash floors. 

  

	 	•	 	 Spot clean carpets as needed. 

  

	 	•	 	 Vacuum carpets. 

Stairways 
 Daily: 

 

	 	•	 	 Walk all stairways, pick up loose trash and spot clean where necessary 

 

	 	•	 	 Report any maintenance issues to Facilities Manager 

  
 

 

			
		  	300 Technology Square/Elan

  

 Loading Docks / Compactor Areas 
 Daily: 
  

	 	•	 	 Sweeping 

 Sweep
clean, (using treated dust mops) resilient hard surface flooring. Maintain loading docks and compactor areas in a clean and sanitary condition. 
  

	 	•	 	 Compactor Operation 

Compactors to be kept locked, and all personnel with keys must be trained in their proper use. Training of all persons operating compactor will be
arranged by Property Manager. When compactor is removed for dumping, area underneath it shall be swept, hosed and sanitized. Inspect compactor daily during use and report to Property Manager if rubbish removal contractor has caused any damage to
compactor or failed to maintain cleanliness during rubbish removal. 
 Trash Removal Operations 

Campus maintains 3 compactors, located at 300 & 400 Technology Square for regular trash pick up, and 100 Technology Square surface lot for a
cardboard compactor. Each building maintains rolling bins for white paper recycling. Buildings 200 & 500 use rolling bins for regular trash that arc brought to the 300 loading dock compactor from 200 and the 400 loading dock compactor from
500. 600 Technology Square uses rolling bins that are picked up from the interior loading dock on the first floor 

  
 

 

			
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 EXHIBIT I TO LEASE 

SIGNAGE 
  

 
  

  
 

 
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		  	300 Technology Square/Elan

  

 FIRST AMENDMENT TO LEASE 

THIS FIRST AMENDMENT TO LEASE (this “First Amendment”) is made as of November 21, 2012, by and between ARE-TECH
SQUARE, LLC, a Delaware limited liability company (“Landlord”), and ELAN PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”). 
 RECITALS 
 A. Landlord and Tenant are now parties to that certain
Lease Agreement dated as of May 16, 2012 (the “Lease”). Pursuant to the Lease, Tenant leases certain premises consisting of approximately 9,294 rentable square feet of space (“Original Premises”) in a building
located at 300 Technology Square, Cambridge, Massachusetts (“Building”). The Original Premises are more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such
terms in the Lease. 
 B. The “Commencement Date” of the Lease was May 18, 2012, the “Rent
Commencement Date” of the Lease was August 18, 2012, and the expiration date of the Lease is August 31, 2017 (“Expiration Date”). 
 C. Landlord and Tenant desire, subject to the terms and conditions set forth below, to amend the Lease to, among other things, (i) extend the Base Term of the Lease, and (ii) expand the
size of the Original Premises by adding approximately 2,536 rentable square feet of space on the third floor of the Building. 

NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises
and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 

 

	1.	Expansion Premises. In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to
Tenant, and Tenant leases from Landlord, that certain portion of the third floor of the Building, containing approximately 2,536 rentable square feet, as shown on Exhibit A attached hereto (the “Expansion Premises”).

  

	2.	Delivery. Landlord delivered (“Delivery” or “Deliver”) the Expansion Premises and Tenant has been using, with Landlord
approval and without obligation to pay Base Rent or Operating Expenses, the Expansion Premises for the storage of construction materials prior to the date of this Agreement. As of the date of this First Amendment, Tenant may commence Tenant’s
Work under the Expansion Premises Work Letter attached hereto as Exhibit B. As used herein, the term “Tenant’s Work” shall have the meaning set forth for such term in the Expansion Premises Work Letter.

 The “Expansion Premises Commencement Date” shall be the date of this First Amendment. The
“Expansion Premises Rent Commencement Date” shall be February 1, 2013. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date, the Expansion Premises Rent
Commencement Date and the expiration date of the Lease in a form substantially similar to the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit D; provided, however, Tenant’s
failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. 
 Except as set forth in
the Expansion Premises Work Letter and in the Lease: (i) Tenant shall accept the Expansion Premises in their condition as of the Expansion Premises Commencement Date, subject to all applicable Legal Requirements; (ii) Landlord shall have
no obligation for any defects in the Expansion Premises; and (iii) Tenant’s taking possession of the Expansion 

  
 

 
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Premises shall be conclusive evidence that Tenant accepts the Expansion Premises and that the Expansion Premises were in good condition at the time possession was taken. 

Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the
condition of all or any portion of the Expansion Premises, and/or the suitability of the Expansion Premises for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Expansion Premises are suitable for the Permitted
Use. 
  

	3.	Definition of Premises. Commencing on the Expansion Premises Commencement Date, the defined term “Premises” on Page 1 of the Lease is
deleted in its entirety and replaced with the following: 

 “Premises: That portion of
the third floor of the Building containing approximately 11,830 rentable square feet, consisting of (i) approximately 9,294 rentable square feet (“Original Premises”), and (ii) approximately 2,536 rentable square feet
(“Expansion Premises”), all as determined by Landlord, as shown on Exhibit A.” 
 Exhibit A
attached to the Lease is hereby amended to include Exhibit A attached to this First Amendment. 
  

	4.	Base Rent. Commencing on the date of this First Amendment, the defined term “Base Rent” on Page 1 of the Lease is deleted in its entirety
and replaced with the following: 

  

							
	“Base Rent:	 	8/18/12 – 8/31/13:	  	$	54.00 per rsf per year  	  
		 	9/1/13 – 8/31/14:	  	$	55.00 per rsf per year  	  
		 	9/1/14 – 8/31/15:	  	$	56.00 per rsf per year  	  
		 	9/1/15 – 8/31/16:	  	$	57.00 per rsf per year  	  
		 	9/1/16 – 8/31/17:	  	$	58.00 per rsf per year  	  
		 	9/1/17 – Expiration Date:	  	$	59.00 per rsf per year”	  

 Commencing on the Expansion Rent Premises Commencement Date and continuing through the Expiration Date,
Tenant shall pay Base Rent per square foot of the Expansion Premises in an amount equal to the per square foot amount of Base Rent payable for the Original Premises, as adjusted pursuant to the schedule set forth above. Tenant shall have no
obligation to pay Base Rent for the Expansion Premises prior to the Expansion Premises Rent Commencement Date. 
  

	5.	Tenant’s Share of Operating Expenses. Commencing on the Expansion Premises Commencement Date, the defined term “Tenant’s Share of
Operating Expenses” on page 1 of the Lease is deleted in its entirety and replaced with the following: 

 “Tenant’s Share of Operating Expenses: 6.74%” 
  

	6.	Base Term. Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on Page 1 of the Lease is deleted in its
entirety and replaced with the following: 

 “Base Term: Beginning (i) on the
Commencement Date with respect to the Original Premises, and (ii) on the Expansion Premises Commencement Date with respect to the Expansion Premises, and ending with respect to the entire Premises on January 31, 2018 (“Expiration
Date”).” 
  

	7.	Rentable Area of Premises. Commencing on the Expansion Premises Commencement Date, the defined term “Rentable Area of Premises” on page 1
of the Lease is deleted in its entirety and replaced with the following: 

  
 

 
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		  	300 Technology Square/Elan

  

 “Rentable Area of Premises: 11,830 sq. ft.” 

 

	8.	Parking. Commencing on the Expansion Premises Rent Commencement Date, subject to the terms and conditions of Section 10 of the Lease,
including without limitation the payment of Additional Rent as provided in Section 10 of the Lease, Landlord shall make available to Tenant an additional 4 parking spaces in the Technology Square Parking Garage (“Additional
Spaces”). Commencing on the Expansion Premises Rent Commencement Date, and continuing thereafter during the Term, Tenant shall be required to pay for 2 of the Additional Spaces made available to Tenant (“Required Additional
Spaces”). Tenant shall notify Landlord prior to the Expansion Premises Rent Commencement Date how many of the Additional Space in addition to the Required Additional Spaces Tenant elects to initially use under the Lease and Tenant shall
give Landlord 30 days’ notice following the Expansion Premises Rent Commencement Date if it wishes to use additional Additional Spaces during the Term, up to 2 Additional Spaces in the aggregate. 

 

	9.	Right to Expand. 

 a.
Expansion in the Building. Tenant shall have the one-time right, but not the obligation, to expand the Premises (the “Expansion Right”) to include any Expansion Space in the Building; upon the terms and conditions in this
Section. For purposes of this Section 9(a), “Expansion Space” shall mean the balance of the third floor of the Building which is not occupied by an existing tenant or which is occupied by a tenant whose lease is expiring
within 6 months or less and such then-current tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. If there is any Expansion Space, Landlord shall promptly deliver to Tenant written notice (the
“Expansion Notice”) of such Expansion Space (“Identified Space”), together with the terms and conditions on which Landlord is prepared to lease Tenant such Identified Space, which shall include Landlord’s
proposal of the Market Rate for the Identified Space. Tenant shall be entitled to exercise its right under this Section 9(a) only with respect to the entire Identified Space described in such Expansion Notice. Tenant shall have 10
business days following delivery of the Expansion Notice to deliver to Landlord written notification of Tenant’s exercise of the Expansion Right (“Exercise Notice”). The term of the Lease for the Identified Space will be
coterminous with the Base Term, as the same may be extended. If less than three (3) years remain on the Base Term, as may be extended, at the time of Tenant’s Exercise Notice, then (i) the lease term for the Identified Space shall be
three (3) years, (ii) the Base Term will be extended by the length of time necessary to be coterminous with the lease term for the Identified Space (such extended portion of the Base Term being called the “Stub Term”), and
(iii) Base Rent for the Premises for the Stub Term shall equal the Base Rent on a per rentable square foot basis for the Identified Space for such period as determined in accordance with this Section 9. Tenant’s Exercise Notice may,
at Tenant’s election, contain an objection to Landlord’s proposal of Market Rate for the Identified Space, in which case, for a period of thirty (30) days thereafter (the “Expansion Rent Negotiation Period”) the parties
shall attempt in good faith to determine the Market Rate for the Identified Space; and if Landlord and Tenant are unable in good faith to agree, in their respective sole discretion, upon a mutually satisfactory Market Rate by the expiration of the
Expansion Rent Negotiation Period, then the Market Rate will be determined in accordance with the arbitration method as described in Section 39(b) of the Lease with the phrase “Expansion Proposal” being substituted for the phrase
“Extension Proposal” therein. Notwithstanding anything to the contrary contained herein, Tenant shall have no right to exercise the Expansion Right and the provisions of this Section 9(a) shall no longer apply after the date
that is 9 months prior to the expiration of the Base Term if Tenant has not exercised its Extension Right pursuant to Section 39 of the Lease. Tenant’s failure to deliver an Exercise Notice to Landlord shall be deemed to be an
election by Tenant not to exercise Tenant’s Expansion Right with respect to the Identified Space, in which case Landlord shall have the right to lease the Identified Space to any third party on any terms and conditions acceptable to Landlord
and Tenant’s Expansion Right shall survive only with respect to any remaining Expansion Space not identified at that time or previously as Identified Space. 

  
 

 
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 For purposes of clarification, if the Base Term is extended pursuant to the above
provisions of this Section 9(a) for a Stub Term, then the extension right provided for under Section 39 of the Lease shall apply with full force and effect at the end of the Stub Term with respect to the entire Premises. 

b. Amended Lease. If: (i) Tenant fails to timely deliver notice accepting the terms of an Expansion Notice, or (ii) after
the expiration of a period of 10 business days after Landlord’s delivery to Tenant of a proposed amendment to this Lease, no lease amendment or lease agreement for the Identified Space has been executed, Tenant shall be deemed to have forever
waived its right to lease such Identified Space. Notwithstanding anything to the contrary contained herein, if the Market Rate for the Identified Space has not been determined at the time the parties enter into an amendment, the parties shall
subsequently enter into a second amendment confirming the Market Rate for the Identified Space once such Market Rate has been determined. 
 c. Exceptions. Notwithstanding the above, the Expansion Right shall, at Landlord’s option, not be in effect and may not be exercised by Tenant: 

(i) during any period of time that Tenant is in Default under any provision of the Lease; or 

(ii) if Tenant has been in Default under any provision of the Lease 3 or more times, whether or not the Defaults are
cured, during the 12 month period prior to the date on which Tenant seeks to exercise the Expansion Right. 
 d.
Termination. The Expansion Right shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Expansion Right if, after such exercise, but prior to the commencement date
of the lease of such Expansion Space, (i) Tenant fails to timely cure any default by Tenant under the Lease (following applicable notice and cure periods); or (ii) Tenant has Defaulted 3 or more times during the period from the date of the
exercise of the Expansion Right to the date of the commencement of the lease of the Expansion Space, whether or not such Defaults are cured. 
 e. Rights Personal. Expansion Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and
apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease. 

f. No Extensions. The period of time within which any Expansion Rights may be exercised shall not be extended or enlarged by reason
of Tenant’s inability to exercise the Expansion Rights. 
  

	10.	Utilities. As part of the Tenant Improvements under the Expansion Premises Work Letter, Tenant shall cause the Expansion Premises to be separately metered
or submetered for electricity and, commencing on the date of Tenant’s installation of such meter or submeter which shall occur prior to the Expansion Premises Rent Commencement Date, Tenant shall pay for electricity consumed in the Expansion
Premises based on such meter or submeter in accordance with the terms of Section 11 of the Lease. 

  

	11.	 Brokers. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively,
“Broker”) in connection with the transaction reflected in this First Amendment and that no Broker brought about this transaction, other than CB Richard Ellis/New England and Cushman & Wakefield of Massachusetts. Landlord
and Tenant each hereby agrees to indemnify and hold the other harmless from and against any claims by any 

  
 

 
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Broker other than the Brokers named herein claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing
transaction. 

  

	12.	Miscellaneous. 

 a. This First Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and
discussions. This First Amendment may be amended only by an agreement in writing, signed by the parties hereto. 
 b. This
First Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, representatives, officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and
shareholders. 
 c. This First Amendment may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which when taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page
is attached to any other counterpart identical thereto except having additional signature pages executed by other parties to this First Amendment attached thereto. 
 d. Except as amended and/or modified by this First Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and
unchanged by this First Amendment. In the event of any conflict between the provisions of this First Amendment and the provisions of the Lease, the provisions of this First Amendment shall prevail. Whether or not specifically amended by this First
Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this First Amendment. 

  
 

 
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 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of
the day and year first above written. 
  

			
	TENANT:
	
	ELAN PHARMACEUTICALS, INC.,
	
	a Delaware corporation
		
	By:	 	 /s/ ALAN CAMPION

		
	Title:	 	 Treasurer and CFO

							
	
	LANDLORD:
	
	ARE-TECH SQUARE, LLC,
	a Delaware limited liability company
		
	By:	 	ARE-MA REGION NO. 31, LLC,
		 	a Delaware limited liability company,
		 	its manager
			
		 	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
		 		 	a Delaware limited partnership,
		 		 	managing member
			
		 	By:	 	ARE-QRS CORP.,
		 		 	a Maryland corporation,
		 		 	general partner
				
		 		 	By:	 	 /s/ ERIC S. JOHNSON

		 		 	Name:	 	 Eric S. Johnson

		 		 	Title:	 	 Vice President Real Estate Legal Affairs

  
 

 
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		  	300 Technology Square/Elan

  

 EXHIBIT A 
 The Expansion Premises 
  
 

 

  
 

 
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		  	300 Technology Square/Elan

  

 EXHIBIT B 
 Expansion Premises Work Letter 
 THIS EXPANSION PREMISES WORK
LETTER dated November     , 2012 (this “Expansion Premises Work Letter”) is made and entered into by and between ARE-TECH SQUARE, LLC, a Delaware limited liability company
(“Landlord”), and ELAN PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated May 16, 2012, as amended by that certain First Amendment to Lease of
even date herewith (“First Amendment”)(as amended, the “Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease.

 7. General Requirements. 
 (a) Tenant’s Authorized Representative. Tenant designates Rick Smith (“Tenant’s Representative”) as the only person authorized to act for Tenant pursuant to this
Expansion Premises Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication (“Communication”) from or on behalf of Tenant in connection with this Expansion Premises
Work Letter unless such Communication is in writing from Tenant’s Representative. Tenant may change Tenant’s Representative at any time upon not less than 5 business days advance written notice to Landlord. 

(b) Landlord’s Authorized Representative. Landlord designates Tim White and Michelle Lower (either such individual acting
alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Expansion Premises Work Letter. Tenant shall not be obligated to respond to or act upon any request, approval, inquiry or
other Communication from or on behalf of Landlord in connection with this Expansion Premises Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either Landlord’s Representative at any
time upon not less than 5 business days advance written notice to Tenant. 
 (c) Architects, Consultants and Contractors.
Landlord and Tenant hereby acknowledge and agree that the architect (the “TI Architect”) for the Tenant Improvements (as defined in Section 2(a) below), the general contractor and any subcontractors for the Tenant
Improvements shall be selected by Tenant, subject to Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall be named a third party beneficiary of any contract entered into by Tenant with
the TI Architect, any consultant, any contractor or any subcontractor, and of any warranty made by any contractor or any subcontractor. 
 8. Tenant Improvements. 
 (a) Tenant Improvements Defined. As used
herein, “Tenant Improvements” shall mean all improvements to the Expansion Premises of a fixed and permanent nature as shown on the TI Construction Drawings, as defined in Section 2(c) below. Other than funding the TI
Allowance (as defined below) as provided herein and constructing the Demising Improvements as provided in the Lease, Landlord shall not have any obligation whatsoever with respect to the finishing of the Expansion Premises for Tenant’s use and
occupancy. 
 (b) Tenant’s Space Plans. Tenant shall deliver to Landlord schematic drawings and outline
specifications (the “Space Plan”) detailing Tenant’s requirements for the Tenant Improvements within 10 days of the date hereof. Not more than 10 days thereafter, Landlord shall deliver to Tenant the written objections,
questions or comments of Landlord and the TI Architect with regard to the Space Plan. Tenant shall cause the Space Plan to be revised to address such written comments and shall resubmit 

  
 

 
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said drawings to Landlord for approval within 10 days thereafter. Such process shall continue until Landlord has approved the Space Plans. 

(c) Working Drawings. Not later than 30 days following the mutual execution and delivery of the First Amendment by the parties,
Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI Construction Drawings
shall be prepared substantially in accordance with the Space Plan. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements. Landlord shall deliver its written
comments on the TI Construction Drawings to Tenant not later than 10 business days after Landlord’s receipt of the same; provided, however, that Landlord may not disapprove any matter that is consistent with the Space Plan. Tenant and the TI
Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Landlord how Tenant proposes to respond to such comments. Any disputes in connection with such comments shall be resolved in accordance
with Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the Space Plan, Landlord shall approve the TI Construction Drawings submitted by Tenant. Once approved by Landlord, subject
to the provisions of Section 4 below, Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of the TI Permit (as defined in Section 3(a) below).

 (d) Approval and Completion. If any dispute regarding the design of the Tenant Improvements is not settled within 10
business days after notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant Improvements, provided (i) Tenant acts reasonably and such final decision is either
consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, (ii) that all costs and expenses resulting from any such decision by Tenant shall be payable out of the TI Allowance (as defined
in Section 5(b) below), and (iii) Tenant’s decision will not affect the base Building, structural components of the Building or any Building Systems. Any changes to the TI Construction Drawings following Landlord’s and
Tenant’s approval of same requested by Tenant shall be processed as provided in Section 4 hereof. Notwithstanding anything to the contrary contained herein, Landlord shall have the right to make final decisions, in Landlord’s
sole and absolute subjective discretion, with respect to matters concerning the exterior components, site work, façade or other structural components of the Building or any Building System. 

9. Performance of the Tenant Improvements. 
 (a) Commencement and Permitting of the Tenant Improvements. Tenant shall commence construction of the Tenant Improvements upon obtaining and delivering to Landlord a building permit (the
“TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction Drawings approved by Landlord. The cost of obtaining the TI Permit shall be payable from the TI Allowance. Landlord shall
assist Tenant in obtaining the TI Permit. Prior to the commencement of the Tenant Improvements, Tenant shall deliver to Landlord a copy of any contract with Tenant’s contractors (including the TI Architect), and certificates of insurance from
any contractor performing any part of the Tenant Improvement evidencing industry standard commercial general liability, automotive liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause the general
contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and Landlord’s lender (if any) as additional insureds for the general contractor’s liability coverages required above. 

(b) Selection of Materials, Etc. Where more than one type of material or structure is indicated on the TI Construction Drawings
approved by Tenant and Landlord, the option will be within Tenant’s reasonable discretion if the matter concerns the Tenant Improvements, and within Landlord’s sole and absolute subjective discretion if the matter concerns the structural
components of the Building or materially affects the operation of, or maintenance requirements associated with, any Building System. 

  
 

 
 A-2 

			
		  	300 Technology Square/Elan

  

 (c) Tenant Liability. Tenant shall be responsible for correcting any deficiencies
or defects in the Tenant Improvements. 
 (d) Substantial Completion. Tenant shall substantially complete or cause to be
substantially completed the Tenant Improvements in a good and workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature which do not interfere
with the use of the Expansion Premises (“Substantial Completion” or “Substantially Complete”). Upon Substantial Completion of the Tenant Improvements, Tenant shall require the TI Architect and the general contractor
to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects (“AIA”) document G704. For purposes of this Expansion Premises Work Letter,
“Minor Variations” shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to comport
with good design, engineering, and construction practices which are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered during the construction of the Tenant Improvements. 

10. Changes. Any material changes requested by Tenant to the Tenant Improvements after the approval by Landlord of the TI
Construction Drawings, shall be requested and instituted in accordance with the provisions of this Section 4 and shall be subject to the written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or
delayed. 
 (a) Tenant’s Right to Request Changes. If Tenant shall request changes (“Changes”),
Tenant shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any such
Change. Such Change Request must be signed by Tenant’s Representative. Landlord shall review and approve or disapprove such Change Request within 10 business days thereafter, provided that Landlord’s approval shall not be unreasonably
withheld, conditioned or delayed. 
 (b) Implementation of Changes. If Landlord approves such Change, Tenant may cause
the approved Change to be instituted. If any TI Permit modification or change is required as a result of such Change, Tenant shall promptly provide Landlord with a copy of such TI Permit modification or change. 

11. Costs. 
 (a) Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that will be
incurred, in connection with the design and construction of the Tenant Improvements (the “Budget”) and a schedule for Tenant’s performance and completion of the Tenant Improvements (the “Schedule”), and shall
deliver a copy of each of the Budget and Schedule to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord 

(b) TI Allowance. Landlord shall provide to Tenant a tenant improvement allowance (“TI Allowance”) of $40.00 per
rentable square foot of the Expansion Premises. The TI Allowance shall be disbursed in accordance with this Expansion Premises Work Letter. 
 Tenant shall have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for the construction of (i) the Tenant Improvements described
in the TI Construction Drawings approved pursuant to Section 2(d) or (ii) any Changes pursuant to Section 4. Tenant shall have no right to any portion of the TI Allowance that is not disbursed before the last day of the
month that is 18 months after the Expansion Premises Commencement Date. 

  
 

 
 A-3 

			
		  	300 Technology Square/Elan

  

 (c) Costs Includable. The TI Allowance shall be used solely for the payment of
design, permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities used in connection with the construction of the Tenant
Improvements, the cost of preparing the Space Plan and the TI Construction Drawings, all costs set forth in the Budget (including Tenant’s voice and data cabling) and the cost of Changes (collectively, “TI Costs”). Tenant shall
have no obligation to pay Landlord and no portion of the TI Allowance will be applied or deducted on account of any coordination, overhead or contractor supervisions fees in connection with the Tenant Improvements. Notwithstanding anything to the
contrary contained herein, the TI Allowance shall not be used to purchase any furniture, personal property or other non-Building system materials or equipment; provided, however, that Tenant shall have the right to use a portion of the TI Allowance
reasonably acceptable to Landlord for Tenant’s voice and data cabling. 
 (d) Excess TI Costs. Landlord shall have
no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the TI Allowance. Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable
for TI Costs and the cost of Minor Variations in excess of the TI Allowance. 
 (e) Payment for TI Costs. During the
course of design and construction of the Tenant Improvements, Landlord shall reimburse Tenant on a pro rata basis a percentage of the TI Costs (equal to the percentage that the TI Allowance bears to the total Budget, as the same may be amended from
time to time) up to the amount of the TI Allowance actually incurred by Tenant once a month against a draw request in Landlord’s standard form, containing evidence of payment of such TI Costs by Tenant and such certifications, lien waivers
(including a conditional lien release for each progress payment and unconditional lien releases for the prior month’s progress payments), inspection reports and other matters as Landlord customarily obtains, to the extent of Landlord’s
approval thereof for payment, no later than 30 days following receipt of such draw request. Upon completion of the Tenant Improvements (and prior to any final disbursement of the TI Allowance), Tenant shall deliver to Landlord: (i) sworn
statements setting forth the names of all contractors and first tier subcontractors who did the work and final, unconditional lien waivers from all such contractors and first tier subcontractors; (ii) as-built plans (one copy in print format
and two copies in electronic CAD format) for such Tenant Improvements; (iii) a certification of substantial completion in Form AIA G704, (iv) a certificate of occupancy for the Expansion Premises; and (v) copies of all operation and
maintenance manuals and warranties affecting the Expansion Premises. 
 12. Miscellaneous. 

(a) Consents. Whenever consent or approval of either party is required under this Expansion Premises Work Letter, that party shall
not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth herein to the contrary. 
 (b) Modification. No modification, waiver or amendment of this Expansion Premises Work Letter or of any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing
signed by Landlord and Tenant. 

  
 

 
 A-4Exhibit 4.(c)(31)

 Exhibit 4(c)(31) 

CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY 
 WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST 
 FOR
CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 UNDER THE SECURITIES 
 EXCHANGE ACT OF 1934, AS AMENDED. 

ASTERISKS (*) DENOTE SUCH OMISSIONS. 
 ASSET PURCHASE AGREEMENT 
 by and among 

ELAN PHARMA INTERNATIONAL LIMITED, 
 ELAN PHARMACEUTICALS, INC. 
 and 

BIOGEN IDEC INTERNATIONAL HOLDING LTD. 
 Dated as of February 5, 2013 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
			
	 1.
	 	     Definitions.
	  	 	1	  
				
		 	 1.1.
	 	 Definitions.
	  	 	1	  
				
		 	 1.2.
	 	 Additional Definitions.
	  	 	11	  
			
	 2.
	 	     Term of this Agreement; Termination of the Collaboration Agreement.
	  	 	14	  
				
		 	 2.1.
	 	 Term.
	  	 	14	  
				
		 	 2.2.
	 	 Merger Control Legislation.
	  	 	14	  
				
		 	 2.3.
	 	 Termination of the Collaboration Agreement.
	  	 	15	  
				
		 	 2.4.
	 	 Elan Covenants Prior to Closing.
	  	 	15	  
				
		 	 2.5.
	 	 [Intentionally omitted.]
	  	 	17	  
				
		 	 2.6.
	 	 Biogen Idec Right to Terminate.
	  	 	17	  
			
	 3.
	 	     Transfer of Assets.
	  	 	19	  
				
		 	 3.1.
	 	 Transferred Assets.
	  	 	19	  
				
		 	 3.2.
	 	 Excluded Assets.
	  	 	22	  
				
		 	 3.3.
	 	 Assumed Liabilities.
	  	 	22	  
				
		 	 3.4.
	 	 Updating and Supplementing the Asset Schedules; Exclusion of Assets.
	  	 	23	  
				
		 	 3.5.
	 	 Consents.
	  	 	23	  
				
		 	 3.6.
	 	 Due Diligence.
	  	 	24	  
				
		 	 3.7.
	 	 Regulatory Cooperation.
	  	 	24	  
				
		 	 3.8.
	 	 Transfer of Inventory.
	  	 	24	  
				
		 	 3.9.
	 	 Transfer of Know-How and Books and Records.
	  	 	24	  
				
		 	 3.10.
	 	 Transition.
	  	 	25	  
				
		 	 3.11.
	 	 Further Assurances.
	  	 	26	  
			
	 4.
	 	     Consideration.
	  	 	28	  
				
		 	 4.1.
	 	 Upfront Payment.
	  	 	28	  
				
		 	 4.2.
	 	 Contingent Payments.
	  	 	28	  
				
		 	 4.3.
	 	 Payment Terms.
	  	 	31	  
				
		 	 4.4.
	 	 Tax Matters.
	  	 	32	  
				
		 	 4.5.
	 	 Reports; Audit Rights.
	  	 	40	  
				
		 	 4.6.
	 	 Financial Reconciliation.
	  	 	44	  
				
		 	 4.7.
	 	 Allocation of Upfront Payment; Tax Matters.
	  	 	45	  
				
		 	 4.8.
	 	 Closing Date Inventory Value Adjustment.
	  	 	45	  

									
		 	 4.9.
	 	 TYSABRI Transactions.
	  	 	45	  
				
		 	 4.10.
	 	 Distribution Transactions.
	  	 	57	  
			
	 5.
	 	     Closing.
	  	 	59	  
				
		 	 5.1.
	 	 Closing.
	  	 	59	  
				
		 	 5.2.
	 	 Closing Deliveries by Elan.
	  	 	59	  
				
		 	 5.3.
	 	 Closing Deliveries by Biogen Idec.
	  	 	60	  
			
	 6.
	 	     Conditions to Closing.
	  	 	60	  
				
		 	 6.1.
	 	 Conditions Precedent to Biogen Idec’s Obligations on the Closing Date.
	  	 	60	  
				
		 	 6.2.
	 	 Conditions Precedent to Elan’s Obligations on the Closing Date.
	  	 	62	  
			
	 7.
	 	     Representations and Warranties.
	  	 	63	  
				
		 	 7.1.
	 	 By Each Party.
	  	 	63	  
				
		 	 7.2.
	 	 By Elan.
	  	 	64	  
				
		 	 7.3.
	 	 By Biogen Idec.
	  	 	68	  
				
		 	 7.4.
	 	 Notice of Certain Events; Updating the Disclosure Schedule.
	  	 	69	  
			
	 8.
	 	     Licenses and Trademarks.
	  	 	70	  
				
		 	 8.1.
	 	 Unblocking Licenses.
	  	 	70	  
				
		 	 8.2.
	 	 [Intentionally Omitted.]
	  	 	70	  
				
		 	 8.3.
	 	 Product Trademarks.
	  	 	70	  
				
		 	 8.4.
	 	 Non-Exclusive License to Elan Marks.
	  	 	70	  
				
		 	 8.5.
	 	 Alpha-4 Integrin Products License.
	  	 	71	  
				
		 	 8.6.
	 	 Disclosure of Patentable Inventions.
	  	 	71	  
				
		 	 8.7.
	 	 IP Assistance.
	  	 	72	  
			
	 9.
	 	     Confidentiality; Publicity.
	  	 	72	  
				
		 	 9.1.
	 	 Confidentiality of Pre-Closing Confidential Information.
	  	 	72	  
				
		 	 9.2.
	 	 Pre-Closing Confidential Information Authorized Disclosure.
	  	 	72	  
				
		 	 9.3.
	 	 Survival of Pre-Closing Confidentiality Obligations.
	  	 	73	  
				
		 	 9.4.
	 	 Confidentiality of Post-Closing Information.
	  	 	73	  
				
		 	 9.5.
	 	 Post-Closing Confidential Information Authorized Disclosure.
	  	 	73	  
				
		 	 9.6.
	 	 Alpha-4 Integrin Product Confidential Information.
	  	 	74	  
				
		 	 9.7.
	 	 Agreement Terms.
	  	 	75	  
				
		 	 9.8.
	 	 Press Release.
	  	 	75	  
			
	 10.
	 	     Adverse Drug Events and Reports.
	  	 	75	  
				
		 	 10.1.
	 	 Complaints.
	  	 	75	  
				
		 	 10.2.
	 	 Adverse Drug Experiences.
	  	 	75	  

  
 ii 

									
		 	 10.3.
	 	 Recalls.
	  	 	75	  
			
	 11.
	 	     Restrictive Covenants.
	  	 	75	  
				
		 	 11.1.
	 	 EEA/Switzerland.
	  	 	75	  
				
		 	 11.2.
	 	 Outside the EEA/Switzerland.
	  	 	76	  
				
		 	 11.3.
	 	 Exceptions to Restrictive Covenants.
	  	 	77	  
				
		 	 11.4.
	 	 Severability.
	  	 	77	  
			
	 12.
	 	     Indemnification and Insurance; Survival of Representations.
	  	 	77	  
				
		 	 12.1.
	 	 Indemnification and Shared Losses.
	  	 	77	  
				
		 	 12.2.
	 	 Third Party Claim Defense; Reimbursement of Losses.
	  	 	80	  
				
		 	 12.3.
	 	 Survival of Representations and Warranties.
	  	 	81	  
				
		 	 12.4.
	 	 Offset Rights.
	  	 	82	  
				
		 	 12.5.
	 	 Insurance.
	  	 	84	  
				
		 	 12.6.
	 	 Exemplary or Punitive Damages; Disclaimer.
	  	 	84	  
			
	 13.
	 	     Termination.
	  	 	85	  
				
		 	 13.1.
	 	 Pre-Closing Termination.
	  	 	85	  
				
		 	 13.2.
	 	 Post-Closing Termination.
	  	 	85	  
				
		 	 13.3.
	 	 Effects of Termination.
	  	 	85	  
				
		 	 13.4.
	 	 Remedies for Breach.
	  	 	86	  
			
	 14.
	 	     Assignment.
	  	 	86	  
				
		 	 14.1.
	 	 Assignment by Biogen.
	  	 	86	  
				
		 	 14.2.
	 	 Assignment by Elan.
	  	 	87	  
			
	 15.
	 	     [Intentionally Omitted].
	  	 	88	  
			
	 16.
	 	     Notices.
	  	 	88	  
			
	 17.
	 	     Miscellaneous.
	  	 	89	  
				
		 	 17.1.
	 	 Entire Agreement.
	  	 	89	  
				
		 	 17.2.
	 	 [Intentionally Omitted].
	  	 	89	  
				
		 	 17.3.
	 	 Effect of Waiver or Consent.
	  	 	89	  
				
		 	 17.4.
	 	 Severability.
	  	 	90	  
				
		 	 17.5.
	 	 Amendment.
	  	 	90	  
				
		 	 17.6.
	 	 Governing Law.
	  	 	90	  
				
		 	 17.7.
	 	 Venue; Jurisdiction.
	  	 	90	  
				
		 	 17.8.
	 	 Specific Performance.
	  	 	90	  
				
		 	 17.9.
	 	 [Intentionally Omitted].
	  	 	91	  
				
		 	 17.10.
	 	 Independent Contractors.
	  	 	91	  

  
 iii

									
		 	 17.11.
	 	 Parties in Interest; Limitation on Rights of Others.
	  	 	91	  
				
		 	 17.12.
	 	 Interpretation.
	  	 	91	  
				
		 	 17.13.
	 	 Expenses.
	  	 	92	  
				
		 	 17.14.
	 	 Counterparts.
	  	 	92	  

  
 iv 

 ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is entered into as of February 5, 2013 (the “Execution
Date”) by and among Elan Pharma International Limited (“Elan”), Elan Pharmaceuticals, Inc. (“Elan Inc.”) and Biogen Idec International Holding Ltd. (“Biogen Idec”). Biogen Idec and Elan are
sometimes referred to herein individually as a “Party” and collectively as the “Parties,” and references to “Elan” shall include Elan Inc. and Elan’s other Affiliates. 

WHEREAS, since 2000, the Parties and/or certain of their Affiliates have jointly Developed and Commercialized TYSABRI worldwide pursuant
to that certain Antegren Development and Marketing Collaboration Agreement (the “Collaboration Agreement”) dated as of August 15, 2000 between Elan Pharma International Limited and Biogen Idec MA Inc. (“BIMA”);

 WHEREAS, in connection with termination of the Collaboration Agreement, Elan desires to transfer to Biogen Idec all
intellectual property and other assets related to the Development, manufacturing and Commercialization of TYSABRI and other products licensed to Biogen Idec and its designated Affiliates under the Collaboration Agreement, so that Biogen Idec and its
designated Affiliates shall have sole authority over and exclusive worldwide rights to the Development, manufacturing and Commercialization of TYSABRI and shall make an upfront payment and certain contingent payments to Elan based on the sales of
TYSABRI; 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the Parties agree as follows: 
  

	1.	Definitions. 

 1.1.
Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth below: 
 (a) “Action” shall mean any claim, controversy, action, cause of action, suit, litigation, arbitration, investigation, opposition, interference, audit, assessment, hearing, complaint,
demand or other legal proceeding (whether sounding in contract, tort or otherwise, whether civil or criminal and whether brought at law or in equity) that is commenced, brought, conducted, tried or heard by or before, or otherwise involving, any
governmental authority. 
 (b) “Affiliate(s)” shall mean, with respect to any Person, any other
Person which controls, is controlled by or is under common control with such Person. A Person shall be regarded as in control of another entity if it owns or controls, directly or indirectly, (i) in the case of corporate entities, at least
fifty percent (50%) (or the maximum ownership interest permitted by law) of the equity securities in the subject entity entitled to vote in the election of directors and, (ii) in the case of an entity that is not a corporation, at least
fifty percent (50%) (or the maximum ownership interest permitted by law) of the equity securities or other ownership interests with the power to 

 
direct the management and policies of such subject entity or entitled to elect the corresponding management authority. 

(c) “Alpha-4 Integrin” shall mean any of those alpha-beta heterodimeric transmembrane glycoproteins known
as integrins where the alpha subunit chain has the composition known as alpha-4, including the composition of matter characterized on Exhibit A hereto. 
 (d) “Alpha-4 Integrin Business” shall mean the research, Development, making, importing, exporting, distribution, sale, offering for sale, or other Commercialization of any Alpha-4
Integrin Product. 
 (e) “Alpha-4 Integrin Product” shall mean any product (comprising, for
example, an agent, chemical entity (including a small molecule), compound, moiety, mixture of chemical compounds and/or molecules, molecule (including biological macromolecules such as proteins, carbohydrates, peptides and nucleic acids), or an
extract) that partially or fully blocks, inhibits, or neutralizes (i) the binding between Alpha-4 Integrin and one of its ligands, such as VCAM-1, fibronectin or MadCAM, including by competitive or allosteric binding to Alpha-4 Integrin, one or
more of its subunits, one of its ligands and/or one or more of their subunits, and/or (ii) Alpha-4 Integrin-mediated cell migration and/or adhesion. Notwithstanding the foregoing, Alpha-4 Integrin Products shall not include a product whose half
maximal inhibitory concentration is 10 μM or higher. Assays which can be used to assess binding and functional activity include (1) Michael P. Bova, et. al., 2011 “A Label-Free Approach to Identify Inhibitors of a4b7-Mediated Cell Adhesion to MadCAM” J Biomol Screen, June 2011; vol. 16, 5: pp. 536-544; (2) WO 2007/041324 A1 (Example A); (3) WO 2006/127584 A1
(Biological Example A); or (4) Piraino, et. al., 2002 “Prolonged Reversal of Chronic Experimental Allergic Encephalomyelitis Using a Small Molecule Inhibitor of alpha-4 Integrin”, J Neuroimmunol, (2002) vol. 131, pp. 147-159. For
the sake of clarity, Alpha-4 Integrin Products include Licensed Products and ELND002. 
 (f) “Antegren
Trademark” shall mean the international equivalents of cancelled U.S. Registration No. 2,063,937. 

(g) “Asset Schedules” shall mean the following Schedules to this Agreement: Schedule 1.1(r) (Elan
JCV/PML Patents), Schedule 1.1(t)(A) and Schedule 1.1(t)(B) (Elan Patents), Schedule 1.1(jj) (Product Domain Names), Schedule 1.1(ll) (Product Trademarks), Schedule 3.1(b) (Certain Elan Know-how), Schedule
3.1(f) (Certain Regulatory Materials), Schedule 3.1(g) (Transferred License Agreements) and Schedule 3.1(h) (Transferred Contracts).  

(h) “Business Day” shall mean any day other than a Saturday, Sunday or other day on which commercial
banks in Boston, Massachusetts or Dublin, Ireland are required or authorized by law or executive order to be closed. 

  
 2 

 (i) “Calendar Quarter” shall mean the respective periods of
three consecutive calendar months ending on March 31, June 30, September 30 or December 31, for so long as this Agreement is in effect. 

(j) “Clinical Trial Applications” shall mean an effective Notice of a Claimed Investigational New Drug
Exemption, as defined in Title 21 of the Code of Federal Regulations, on file with the FDA before the commencement of clinical trials of Alpha-4 Integrin Products or JCV Assays in humans, or any comparable filing with any relevant Regulatory
Authorities or other governmental entities in any country in the Territory. 
 (k) “Closing Date
Inventory Value Adjustment” means the Closing Date Inventory Value minus the Estimated Closing Date Inventory Value. 
 (l) “Commercialization” shall mean any and all activities constituting importing, marketing, distributing, offering for sale and selling an Alpha-4 Integrin Product or JCV Assay, and
shall include Promotion as well as activities required to fulfill ongoing regulatory obligations, including adverse event reporting. When used as a verb, “Commercialize” shall mean to engage in Commercialization. 

(m) “Contractual Rights” shall mean, with respect to any Person, any contract, agreement, deed, mortgage,
lease, license, commitment, promise, undertaking, arrangement or understanding, whether written or oral and whether express or implied, or other document or instrument to which or by which such Person is a party or otherwise subject or bound or to
which or by which any property, business, operation, asset or right of such Person is subject or bound. 
 (n)
“Controlled” shall mean ownership or the possession by a Party of the ability to grant access to, the right to use, or a license or sublicense, in each case as provided for in this Agreement, without violating the terms of any
agreement or other arrangement with any Third Party existing at the time such Party would be required hereunder to grant the other Party such access, right to use or license or sublicense and without such Party incurring any payment obligation
unless, but only if and for such time that, the other Party agrees to, and does promptly, reimburse such Party for any such payment obligation incurred by such Party as a result of granting the other Party such access or license or sublicense.
“Controlled” shall also mean the past tense of Control. 
 (o) “Development” shall
mean all activities performed with respect to an Alpha-4 Integrin Product or JCV Assay in the Territory until Regulatory Approval of such Alpha-4 Integrin Product or JCV Assay is obtained for the indication under study. “Development” shall
include all activities related to preclinical testing, test method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance/quality control, clinical
studies, regulatory affairs, statistical analysis and report writing, market research and development and all other pre-approval activities. When used as a verb, “Develop” shall mean to engage in Development. 

  
 3 

 (p) “Drug Approval Application” shall mean an application
to a Regulatory Authority for Regulatory Approval of an Alpha-4 Integrin Product or JCV Assay, including any Marketing Authorization Application, and all amendments and supplements thereto. 

(q) “Elan JCV/PML Know-how” shall mean any and all Know-how which is within the Control of Elan or any of
its Affiliates as of the Closing Date and: (i) that relates to progressive multifocal leukoencephalopathy (“PML”) or John Cunningham Virus (“JCV”); or (ii) that relates to a JCV Assay. 

(r) “Elan JCV/PML Patents” shall mean any and all Patents that are Controlled by Elan or any of its
Affiliates as of the Closing Date and: (i) that claim or disclose Elan JCV/PML Know-how; or (ii) that claim or disclose a JCV Assay or any uses of a JCV Assay; or (iii) that otherwise relate to PML or JCV. “Elan JCV/PML
Patents” known to be existing as of the Execution Date are listed in Schedule 1.1(r) and Schedule 7.2(q). 
 (s) “Elan Know-how” shall mean any and all Know-how which is within the Control of Elan or any of its Affiliates as of the Closing Date and is useful to Promote, market, use, Develop,
Commercialize, manufacture, sell or import Alpha-4 Integrin Products, including Licensed Products. The term “Elan Know-how” shall also include: (i) Elan’s interests in the Collaboration Inventions (as defined in the Collaboration
Agreement); (ii) Elan’s interests in the Know-how and Outside the Scope Inventions (as defined in the Collaboration Agreement) jointly owned by Elan and Biogen Idec pursuant to the Collaboration Agreement; and (iii) the Elan JCV/PML
Know-how. The Elan Know-how includes the Know-how listed in Schedule 3.1(b). 
 (t) “Elan
Patents” shall mean any and all Patents that are Controlled by Elan or any of its Affiliates as of the Closing Date and: (i) that claim or disclose Elan Know-how; or (ii) that claim or disclose Alpha-4 Integrin Products or any
uses of Alpha-4 Integrin Products, including Licensed Products or any uses of Licensed Products in the Field; or (iii) which otherwise would be infringed by the Development, manufacturing and/or Commercialization of an Alpha-4 Integrin Product,
including Licensed Products, by Biogen Idec and its Affiliates. The term “Elan Patents” include: (A) Patents owned solely and exclusively by Elan; (B) Elan’s interest in any Collaboration Invention Patent Rights (as defined
in the Collaboration Agreement); (C) Elan’s interest in any Patents owned jointly by the Parties as provided in the Collaboration Agreement; (D) the Elan JCV/PML Patents; and (E) Elan’s interest in Patents owned jointly by
Elan and a Third Party. “Elan Patents” known to be existing as of the Execution Date are listed in Schedule 1.1(r), Schedule 1.1(t)(A), Schedule 1.1(t)(B), Schedule 7.2(h), and Schedule 7.2(q).

 (u) “EMA” shall mean the European Medicines Agency or any successor agency thereto.

 (v) “Estimated Closing Date Inventory Value” means the value of all Transferred Inventory as
of the Closing Date, calculated in accordance with the definition 

  
 4 

 
of “Closing Date Inventory Value” in Section 4.6(b) in Elan’s reasonable and good faith estimation. 

(w) “FDA” shall mean the United States Food and Drug Administration or any successor agency thereto.

 (x) “FDCA” shall mean the United States Federal Food, Drug and Cosmetic Act, as amended, and
the regulations promulgated thereunder. 
 (y) “Field” shall mean the diagnosis, treatment or
prevention of any medical or disease condition in humans, including multiple sclerosis or inflammatory bowel disease. 
 (z) “Governmental Order” shall mean any order, writ, judgment, injunction, decree, stipulation, ruling, decision, verdict, determination or award made, issued or entered by or with any
governmental authority. 
 (aa) “Intellectual Property” means all rights, title and interests in
and to all proprietary rights of every kind and nature however denominated, throughout the world, including: 
  

	 	(i)	Patents, copyrights, mask work rights, confidential information, trade secrets, database rights, and all other proprietary rights in technology;

  

	 	(ii)	trademarks, trade names, service marks, service names, brands, trade dress and logos, and any goodwill and activities associated therewith; 

 

	 	(iii)	domain names, rights of privacy and publicity, and moral rights; 

  

	 	(iv)	any and all registrations, applications, recordings, licenses, common-law rights, statutory rights, and contractual rights relating to any of the foregoing; and

  

	 	(v)	all actions and rights to sue at law or in equity for any past or future infringement or other impairment of any of the foregoing, including the right to receive all
proceeds and damages therefrom, and all rights to obtain renewals, continuations, divisions, or other extensions of legal protections pertaining thereto. 

(bb) “JCV Assay” shall mean any assay or other method, process or procedure to detect exposure to JCV,
including by detecting JCV antibodies. 
 (cc) “Know-how” shall mean all data, inventions,
methods, proprietary information, processes, trade secrets, techniques and technology (including Confidential Information as defined in Article 10 of the Collaboration Agreement), whether patentable

  
 5 

 
or not but which are not generally known, including discoveries, formulae, materials, including chemicals (including small molecules and polymers), biological materials (including hybridomas,
master cell banks, working cell banks, cDNA libraries and serum samples), practices, methods, knowledge, know-how, processes, experience, test data (including pharmacological, toxicological and clinical information and test data), analytical and
quality control data, marketing, pricing, distribution, cost and sales data or descriptions. 
 (dd)
“knowledge” shall mean, solely for purposes of Sections 7.1, 7.2, 7.3 and 7.4 and not for purposes of any other provision of this Agreement, that: (i) with respect to Elan, one or more of the persons listed in Schedule
1.1(dd)(i) (A) has actual knowledge of the fact or other matter at issue or (B) should have had actual knowledge of such fact or other matter assuming the diligent exercise of such individual’s duties as a director, officer or
employee of Elan and after reasonable investigation of employees of Elan reasonably expected to have actual knowledge of such fact or matter; and (ii) with respect to Biogen Idec, one or more of the persons listed in Schedule 1.1(dd)(ii)
(A) has actual knowledge of the fact or other matter at issue or (B) should have had actual knowledge of such fact or other matter assuming the diligent exercise of such individual’s duties as a director, officer or employee of Biogen
Idec or any of its Affiliates and after reasonable investigation of employees of Biogen Idec and its Affiliates reasonably expected to have actual knowledge of such fact or matter. 

(ee) “Licensed Product” shall mean any formulation containing as an active constituent (i) a
humanized immunoglobulin having complementarity determining regions, as disclosed in U.S. Patent No. 5,840,299 (or any functionally equivalent modification thereof), and heavy and light chain variable frameworks from predominantly human
acceptor immunoglobulin; (ii) an antigen-binding fragment of such humanized immunoglobulin having at least ten (10) amino acids; or (iii) any such immunoglobulin or fragment as described in (i) and (ii) or any other fragment
comprising the complementarity determining region of such humanized immunoglobulin, fused to another polypeptide fragment or another monomeric or polymeric compound, in each case under clauses (i), (ii), and (iii), which specifically binds to an
Alpha-4 Integrin and which has a molecular weight greater than 2,000 Daltons. The term Licensed Product shall, as applicable, include TYSABRI. 
 (ff) “Marketing Authorization Application” shall mean (i) a marketing authorization application filed with (A) the EMA under the centralized EMA filing procedure or (B) a
Regulatory Authority in any European country if the centralized EMA filing procedure is not used to obtain marketing approval; or (ii) any other equivalent or related regulatory submission or application filed with a Regulatory Authority in any
country in the Territory outside the EU (including the United States) to gain approval to market an Alpha-4 Integrin Product or JCV Assay in such country, and all amendments and supplements thereto. 

(gg) “Net Sales” shall mean, with respect to each country in the Territory, (1) the gross amount
invoiced for sales of TYSABRI in such country by Biogen Idec or any of its Affiliates to Third Parties, subject to Section 4.9, and (2) the net royalty amount 

  
 6 

 
received by Biogen Idec or any of its Affiliates with respect to sales of TYSABRI in such country pursuant to license or other agreements with Third Parties, subject to Section 4.9, less the
following deductions, in each case (A) without duplication, (B) where applicable with respect to the gross amount invoiced, (C) as incurred in relation to sales of TYSABRI following the end of the Stub Period, (D) as incurred in
the ordinary course of business in type and amount consistent with good industry practice and (E) except with respect to the uncollectible amounts on previously sold TYSABRI described in clause (ii) below and the pharmaceutical excise
taxes described in clause (v) below, as determined in accordance with, and as recorded in revenues under, United States Generally Accepted Accounting Principles: 
  

	 	(i)	sales returns and allowances actually paid, granted or accrued on TYSABRI, including trade, quantity, prompt pay and cash discounts and any other adjustments, including
those granted on account of price adjustments or billing errors; 

  

	 	(ii)	credits or allowances given or made for rejection or return of, and for uncollectible amounts on, previously sold TYSABRI or for rebates or retroactive price reductions
(including Medicare, Medicaid, managed care and similar types of rebates and chargebacks); 

  

	 	(iii)	to the extent not already deducted or excluded from the gross amount invoiced, taxes, duties or other governmental charges levied on or measured by the billing amount
for TYSABRI, as adjusted for rebates and refunds, which, for the avoidance of doubt, shall not include any tax, duty, or other charge imposed on or measured by net income (however denominated), or any franchise taxes, branch profits taxes, or
similar tax; 

  

	 	(iv)	to the extent not already deducted or excluded from the gross amount invoiced, customs or excise duties, sales tax, consumption tax, value added tax, and other taxes
(except income taxes), as adjusted for rebates and refunds; 

  

	 	(v)	pharmaceutical excise taxes (such as those imposed by the United States Patient Protection and Affordable Care Act of 2010 (Pub. L. No. 111-48) and other
comparable laws); 

  

	 	(vi)	charges for freight and insurance directly related to the distribution of TYSABRI, to the extent not already deducted or excluded from the gross amount invoiced, for
sales of TYSABRI by Biogen Idec or its Affiliates or permitted sublicensees to Third Parties in the Territory; 

  

	 	(vii)	credits for allowances given or made for wastage replacement for TYSABRI; 

  
 7 

	 	(viii)	wholesaler and distributor administration fees; and 

  

	 	(ix)	other similar or customary deductions taken in the ordinary course of business or in accordance with United States Generally Accepted Accounting Principles.

 Net Sales shall be determined in accordance with United States Generally Accepted Accounting Principles, except
to the extent noted above in clause (E) of the first paragraph of this Section 1.1(gg). Net Sales shall not be imputed to transfers of TYSABRI for use in any clinical trial, for bona fide charitable purposes, for compassionate use, for
indigent patient programs or as free TYSABRI samples. Transfers of TYSABRI for charitable purposes, compassionate use, indigent patient programs or as samples shall be consistent with Biogen Idec’s practices with respect to TYSABRI prior to the
Execution Date. 
 Notwithstanding the foregoing, in the event TYSABRI is sold as a component of a Combination Product in any
country in the Territory in any Calendar Quarter, Net Sales shall be calculated by multiplying the Net Sales of the Combination Product in such country during such Calendar Quarter (calculated by applying the formula set forth above as if it applied
to sales of such Combination Product in such country) by the fraction A/(A+B), where A is the average Net Sales per unit sold of TYSABRI when sold separately in such country during such Calendar Quarter (calculated by determining the Net Sales of
TYSABRI in such country during such Calendar Quarter in accordance with the formula set forth above and dividing such Net Sales by the number of units of TYSABRI sold in such country during such Calendar Quarter) and B is the average Net Sales per
unit sold of the other active component(s) included in the Combination Product when sold separately in such country during such Calendar Quarter (calculated by determining the Net Sales of such other active component(s) in such country during such
Calendar Quarter by applying the formula set forth above as if it applied to sales of such other active component(s) and dividing such Net Sales by the number of units of such other active component(s) sold in such country during such Calendar
Quarter). For purposes of calculating the average Net Sales per unit sold of TYSABRI and other active component(s) of a Combination Product in accordance with the above described equation, any of the deductions described in clauses (i) through
(ix) above that apply to such Combination Product shall be allocated among sales of TYSABRI and sales of the other active component(s) included in such Combination Product as follows: (1) deductions that are attributable solely to TYSABRI
or one of the other active component(s) shall be allocated solely to Net Sales of TYSABRI or such other active component, as applicable, and (2) all other deductions shall be allocated among sales of TYSABRI and sales of the other active
component(s) in proportion to Biogen Idec’s reasonable good faith estimate of the fair market value of TYSABRI and the other active component(s). In the event that no separate sales of TYSABRI or any other active component(s) included in a
Combination Product are made by Biogen Idec or its Affiliates, Distributors or Third Party Transferees during a Calendar Quarter in which such Combination Product is sold in a country, the average Net Sales per unit sold in the above described
equation shall be replaced with Biogen Idec’s reasonable good faith estimate of the fair market value of TYSABRI and each of the other active component(s) 

  
 8 

 
included in such Combination Product. For purposes of this Section 1.1(gg), “Combination Product” shall mean (x) any single product in finished form containing as
active ingredients both (A) TYSABRI and (B) one or more other pharmaceutically active compounds or substances; (y) any sale of TYSABRI with another product(s) for a single invoice price; or (z) any sale of TYSABRI as part of a
bundle with other product(s) or service(s) (i.e., where TYSABRI and such other product(s) or services are sold for a single invoice price or where a discount, rebate or other amount that reduces the price of TYSABRI is provided in exchange for (or
otherwise conditioned upon) the purchase of such other product(s) or services), to the extent not described in clause (x) or (y). 
 Notwithstanding anything in this Agreement to the contrary, Biogen Idec shall not, and shall cause its Affiliates not to, take any action, or omit to take any action, for the primary purpose of reducing
the amount of any Contingent Payment otherwise due to Elan. For the avoidance of doubt, it is understood that any action taken or omitted by Biogen Idec or any of its Affiliates that does not have as its primary purpose a reduction in the amount of
any Contingent Payment otherwise due to Elan, may have the effect of reducing the Contingent Payments. 
 (hh)
“Patent(s)” shall mean any and all (i) patents, (ii) pending patent applications, including all provisional applications, substitutions, continuations, continuations-in-part, divisions and renewals, and all patents granted
thereon, (iii) all patents-of-addition, reissues, reexaminations and extensions or restorations by existing or future extension or restoration mechanisms, including supplementary protection certificates or the equivalent thereof,
(iv) inventor’s certificates, (v) any other form of government-issued right substantially similar to any of the foregoing, and (vi) all United States and foreign counterparts of any of the foregoing. 

(ii) “Person” shall mean any individual, person, entity, governmental authority, general partnership,
limited partnership, limited liability partnership, limited liability company, corporation, joint venture, trust, business trust, cooperative, association, foreign trust or foreign business organization and, when the context so permits, the
successors and assigns of such Person. 
 (jj) “Product Domain Names” shall mean any of the
domain names used or intended for use in connection with the Commercialization of Licensed Products in any country in the Territory or in connection with use or Commercialization of a JCV Assay, consisting of the domain names set forth on
Schedule 1.1(jj). “Product Domain Names” shall mean, collectively, all of the foregoing domain names. 
 (kk) “Product NDCs” shall mean the unique, three-segment National Drug Code numbers listed with and published by the FDA to identify any of the Licensed Products. 

(ll) “Product Trademark” shall mean any of the trademarks used or intended for use in connection with the
Commercialization of Licensed Products in any country in the Territory or in connection with use or Commercialization of a JCV Assay, consisting of the TYSABRI Trademark, the Antegren Trademark and the other trademarks set forth

  
 9 

 
on Schedule 1.1(ll). “Product Trademarks” shall mean, collectively, all of the foregoing trademarks. 

(mm) “Promotion” shall mean those activities, including detailing normally undertaken by a pharmaceutical
company’s sales force to implement marketing plans and strategies, aimed at encouraging the appropriate use of a particular Alpha-4 Integrin Product or JCV Assay in a specific indication. When used as a verb, “Promote” shall mean to
engage in such activities. 
 (nn) “Prothena Group Company” shall mean Prothena Corporation plc,
Neotope Biosciences Limited, Prothena Biosciences Inc., Onclave Therapeutics Limited and any other companies that are, directly or indirectly, subsidiaries of Prothena Corporation plc. 

(oo) “Regulatory Approval” shall mean any approvals (including pricing and reimbursement approvals),
licenses, registrations or authorizations of, or agreements with, any federal, state or local regulatory agency, department, bureau or other governmental entity, necessary for the marketing and sale of an Alpha-4 Integrin Product or JCV Assay in a
regulatory jurisdiction. 
 (pp) “Regulatory Authority” shall mean any national (e.g., the FDA),
supra-national (e.g., the European Commission, the Council of the European Union, or the EMA), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity in any jurisdiction of the world involved
in the granting of Regulatory Approval for TYSABRI or, as applicable, other Alpha-4 Integrin Product or a JCV Assay. 
 (qq) “Territory” shall mean every country, territory, possession or other political subdivision of the world. 

(rr) “Third Party” shall mean any entity other than Elan or Biogen Idec Inc. or their Affiliates.

 (ss) “Transactions” shall mean the transactions contemplated by this Agreement. 

(tt) “TYSABRI” shall mean any formulation containing as an active constituent the compound that is more
fully characterized on Schedule 1.1(tt) to this Agreement, and any biosimilar or branded generic thereof. 

(uu) “TYSABRI Business” shall mean the research, Development, making, importing, exporting, distribution,
sale, offering for sale, or other Commercialization of TYSABRI. 
 (vv) “TYSABRI Promotional
Materials” shall mean all sales representative training materials and all written, printed, graphic, electronic, audio or video matter related to the marketing or Promotion of TYSABRI, including journal advertisements, sales visual aids,
direct mail, direct-to-consumer advertising, internet postings, broadcast 

  
 10 

 
advertisements and sales reminder aids (e.g., scratch pads, pens and other such items) intended for use or used by Elan or any of its Affiliates in connection with any Promotion. 

(ww) “TYSABRI Trademark” shall mean the trademarks owned by Elan under U.S. Registration Nos. 2899491,
3259576 and 3304389, the international equivalents thereof, or such other trademark, mark or source designating mark and foreign equivalents as may be selected by Biogen Idec and its Affiliates in its sole discretion for use in connection with
TYSABRI. 
 (xx) “VAT” shall mean: (i) any tax, interest or penalties imposed in compliance
with the European Council directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112) (including, in relation to Ireland, value added tax imposed by the Value Added Tax Consolidation Act 2010 and supplemental
legislation and regulations); and (ii) any other tax, interest or penalties of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such tax referred to in paragraph
(i) above, or elsewhere. 
 1.2. Additional Definitions. Each of the following definitions are found in the body of
this Agreement as indicated: 
  

			
	  	  	 Section

	Affiliate Transferee	  	4.9(b)
	Agreed Stamp Duty Assumption(s)	  	4.4(e)(i)
	Agreement	  	Preamble
	Allocation	  	4.7
	Alpha-4 Integrin Product Confidential Information	  	9.6
	Alternative Transfer Agreement	  	4.9(e)(i)(A)
	Alternative TYSABRI Transaction	  	4.9(e)
	Applicable Percentage	  	4.9(a)(i)
	Assignment and Assumption Agreement	  	5.2(c)
	Assumed Liabilities	  	3.3
	BIMA	  	Recitals
	Biogen Idec	  	Preamble
	Biogen Idec Disclosure Schedule	  	7.3
	Blocking Prothena IP	  	3.11(g)
	Books and Records	  	3.1(j)
	Cause	  	3.10(e)
	Challenge	  	4.2(h)
	Claim	  	4.4(e)(iii)
	Clearance Date	  	2.2(a)
	Closing	  	5.1
	Closing Date	  	5.1
	Closing Date Inventory Value	  	4.6(b)
	Closing Date Inventory Value Statement	  	4.8
	Code	  	4.4(c)(ii)
	Collaboration Agreement	  	Recitals

  
 11 

			
	Contingent Payments	  	4.2(e)
	Courts	  	17.7
	Direct Claim	  	12.4(b)(vi)
	Direct Claim Offset Amount	  	12.4(b)
	Disclosure Information	  	9.5(a)
	Distributor	  	4.9(a)(ii)
	DOJ	  	2.2(b)
	EC	  	2.2(c)
	EEA/Switzerland	  	11.1(a)
	EEA/Switzerland Alpha-4 Integrin Restricted Period	  	11.1(b)
	EEA/Switzerland TYSABRI Restricted Period	  	11.1(a)
	Elan	  	Preamble
	Elan Inc.	  	Preamble
	Elan Disclosure Schedule	  	7.2
	Elan Marks	  	8.4
	Excluded Assets	  	3.2
	Excluded Prothena Licenses	  	3.11(f)
	Exclusion Notice	  	3.4(d)
	Execution Date	  	Preamble
	Existing TYSABRI Distributor	  	4.10(a)(i)
	Ex-EEA/Switzerland Alpha-4 Integrin Restricted Period	  	11.2(b)
	Ex-EEA/Switzerland TYSABRI Restricted Period	  	11.2(a)
	FTC	  	2.2(b)
	Improperly Transferred Prothena IP	  	3.11(f)
	Indemnifying Party	  	12.1(b)(i)
	Indemnified Party	  	12.1(b)(i)
	Indemnitees	  	12.1(a)(i)
	In-License	  	3.1(g)
	Initial Contingent Payment Period	  	4.2(a)
	Instrument	  	4.4(e)(i)
	IP Assignments	  	5.2(b)
	Irish Stamp Duty Liability	  	4.4(e)(ii)
	JCV	  	1.1(q)
	LIBOR	  	12.4(a)(iii)
	Licensed Transferred Intellectual Property	  	8.1(b)
	Losses	  	12.1(a)(ii)
	Major Market Countries	  	4.9(a)(iii)
	Minor Market Countries	  	4.9(a)(iv)
	Material Breach Trigger	  	12.4(b)(ii)
	Material Consents	  	5.2(f)
	Merger Control Legislation	  	2.2(a)
	Merger Control Legislation Authorities	  	2.2(a)
	Non-Royalty Consideration	  	4.9(a)(v)
	Notifying Party	  	7.4
	Party/Parties	  	Preamble
	Pending Actions	  	12.2(a)

  
 12 

			
	PML	  	1.1(q)
	Post-Closing Confidential Information	  	9.4
	Potential Indemnified Party	  	12.2(b)
	Potential Indemnifying Party	  	12.2(b)
	Pre-Closing Confidential Information	  	9.1
	Product Liability Claim	  	12.1(a)(iii)
	Rating Trigger	  	12.4(b)(ii)
	Regulatory Materials	  	3.1(f)
	Required Third Party Consents	  	3.5
	Retained Territory	  	4.9(a)(vi)
	Royalty Consideration	  	4.9(a)(vii)
	SCA	  	2.2(a)
	SDCA	  	4.4(e)(i)
	SEC	  	9.5(a)
	Shared Pre-Closing Losses	  	12.1(d)
	Specified Sections	  	6.1(a)
	Standard Distribution Transaction	  	4.10(a)(i)
	Stub Period	  	4.6(a)
	Term	  	2.1
	Termination Agreement	  	2.3
	Third Party Claim	  	12.1(a)(iv)
	Third Party Claim Offset Amount	  	12.4(a)
	Third Party Infringement Claim	  	12.1(a)(v)
	Third Party Transferee	  	4.9(a)(x)
	Threshold	  	4.2(d)
	Threshold Reduction Amount	  	4.9(a)(viii)
	Threshold Reduction Fraction	  	4.9(a)(ix)
	Transfer Agreement	  	4.9(c)(i)(A)
	Transferred Assets	  	3.1
	Transferred Contracts	  	3.1(h)
	Transferred Intellectual Property	  	3.1(e)
	Transferred Inventory	  	3.1(i)
	Transferred License Agreements	  	3.1(g)
	TYSABRI Activities	  	12.1(a)(vi)
	TYSABRI Employee	  	2.4(a)(iv)
	TYSABRI Material Adverse Change	  	2.6(b)
	TYSABRI Rights	  	4.9(a)(x)
	TYSABRI Transaction	  	4.9(a)(x)
	Upfront Payment	  	4.1
	U.S. HSR Act	  	2.2(a)
	Violation of Law	  	12.1(a)(vii)

  
 13 

	2.	Term of this Agreement; Termination of the Collaboration Agreement. 

 2.1. Term. This Agreement shall be effective as of the Execution Date and shall, unless earlier terminated in accordance with its terms, remain in effect in perpetuity (the
“Term”). The Parties’ obligations under this Section 2, Sections 3.4 through 3.7, Section 3.11(e), Section 3.11(f), Section 3.11(g), Section 4.8, Section 7, Section 9.7, Section 9.8,
Section 10, Section 13.1, Section 13.3 and Sections 14 through 17 shall arise on the Execution Date; the other provisions of this Agreement shall not become effective until the Closing Date. 

2.2. Merger Control Legislation. 
 (a) The Parties acknowledge that filings under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “U.S. HSR Act”) and the Spanish Competition Act of
2007 (the “SCA”) are required in connection with the Transactions and filings under comparable merger control legislation in other jurisdictions (collectively with the U.S. HSR Act and the SCA, “Merger Control
Legislation”) may be required in connection with the Transactions. Biogen Idec and Elan will consult with each other promptly following the Execution Date with regard to the jurisdictions in which additional filings are required and in
which jurisdictions such required filings shall be made. The “Clearance Date” shall mean the date upon which the applicable waiting period under the U.S. HSR Act shall have expired or been terminated with respect to this Agreement
and any clearance, consent, decision or other approval has been received, or any applicable waiting period has expired, as is necessary to permit the Transactions to proceed in (i) Spain and (ii) any other jurisdiction where Biogen Idec
has determined, after consultation with Elan pursuant to the immediately preceding sentence and upon advice of counsel, any additional filing is required. “Merger Control Legislation Authorities” shall mean all relevant governmental
authorities under applicable Merger Control Legislation, including the FTC and DOJ, as defined below. 
 (b)
Biogen Idec and Elan shall each use commercially reasonable efforts to (i) take, or cause to be taken, all actions necessary to make (A) an appropriate filing of a Notification and Report Form pursuant to the U.S. HSR Act with respect to
the Transactions no later than one (1) Business Day following the Execution Date, (B) an appropriate filing pursuant to the SCA no later than five (5) days following the Execution Date and (C) any filings required under any other
applicable Merger Control Legislation with respect to the Transactions, as determined by Biogen Idec pursuant to Section 2.2(a), as soon as reasonably practicable following the Execution Date, (ii) reply at the earliest practicable date to
any requests for information received from the United States Federal Trade Commission (“FTC”) or Antitrust Division of the United States Department of Justice (“DOJ”) pursuant to the U.S. HSR Act or from other
Merger Control Legislation Authorities, and (iii) make any permitted request for early expiration or termination of the applicable waiting periods under the U.S. HSR Act and any other applicable Merger Control Legislation as soon as possible.
The Parties shall, to the extent reasonably practicable, consult with one another prior to making any filings, responses to inquiries or other contacts with the Merger Control Legislation Authorities concerning the Transactions. 

  
 14 

 (c) Biogen Idec and Elan shall, in connection with the commercially
reasonable efforts referenced in Section 2.2(b), (i) keep the other Party and/or its counsel informed of any communication received by such party from, or given by such party to, the FTC, the DOJ, the European Commission
(“EC”), or any other U.S. or foreign Merger Control Legislation Authority; and (ii) permit the other Party and/or its counsel to review any communication given by it to, and consult with each other in advance of any meeting or
conference with, the FTC, the DOJ, the EC, or any such other Merger Control Legislation Authority and, to the extent permitted by the FTC, the DOJ, the EC, or such other Merger Control Legislation Authority, give the other party and/or its counsel
the opportunity to attend and participate in such meetings and conferences. Each Party will bear its own expenses in connection with activities under this Section 2.2. Notwithstanding the foregoing, the Parties’ respective obligations to
use their commercially reasonable efforts pursuant to Section 2.2(b) and this Section 2.2(c) shall in no event require either Party to (x) divest any of its businesses or assets or take or agree to take any action or agree to any
limitation or restriction on any element of its businesses or assets or (y) defend, or contest, any action or proceeding brought against it by a Merger Control Legislation Authority in connection with the Transactions. 

2.3. Termination of the Collaboration Agreement. The Collaboration Agreement shall continue in full force and effect in accordance
with its terms until the Closing, subject to the terms of this Agreement. Upon the occurrence of the Closing, the Collaboration Agreement, including all licenses granted thereunder, shall be terminated in its entirety pursuant to the terms of the
Termination Agreement substantially in the form set forth in Exhibit B (the “Termination Agreement”). Upon termination of the Collaboration Agreement and thereafter, Biogen Idec and its Affiliates shall have the sole
authority for and exclusive rights to the Development, manufacturing and Commercialization of Alpha-4 Integrin Products and JCV Assays in the Territory in accordance with the terms of this Agreement. 

2.4. Elan Covenants Prior to Closing. 
 (a) Until the Closing Date, Elan shall, and shall cause its Affiliates to: 
  

	 	(i)	use commercially reasonable efforts to perform and comply with the terms of Contractual Rights and Regulatory Approvals included in the Transferred Assets;

  

	 	(ii)	use commercially reasonable efforts to preserve and protect the Patents, Know-how and other Intellectual Property included within the Transferred Assets;

  

	 	(iii)	notify and consult with Biogen Idec or its designated Affiliate promptly after receipt of any communication between Elan or any Affiliate of Elan and any Regulatory
Authority with respect to any Alpha-4 Integrin Product or JCV Assay, or any Regulatory Approval, and before giving any submission to any Regulatory Authority with respect to any Alpha-4 Integrin Product or JCV Assay, or any Regulatory Approval;

  
 15 

	 	(iv)	upon Biogen Idec’s request, cooperate with Biogen Idec and its Affiliates to make accessible to Biogen Idec any of its current or former employees who is, or has
been, (A) significantly involved in the Development, manufacture or Commercialization of Alpha-4 Integrin Products or JCV Assays or (B) performing general or administrative functions related to the TYSABRI Business (each such employee, a
“TYSABRI Employee”); 

  

	 	(v)	request each TYSABRI Employee who was terminated, resigned, received a termination letter and/or signed a severance agreement on or after November 25, 2012 and
prior to the Execution Date to enter into a written agreement with Elan to cooperate and assist with the transition and transfer activities contemplated by this Agreement (including the Transition Plan) during the period beginning on such TYSABRI
Employee’s effective date of termination and ending three (3) months after the Closing Date; and 

  

	 	(vi)	use reasonable efforts to cause each current employee who is a TYSABRI Employee (other than the TYSABRI Employees described in Section 2.4(a)(v)) to enter into a
written agreement with Elan to cooperate and assist with the transition and transfer activities contemplated by this Agreement (including the Transition Plan) during the period beginning on such TYSABRI Employee’s effective date of termination
and ending three (3) months after the Closing Date. 

 (b) Until the Closing Date, Elan shall
not, and shall cause its Affiliates not to, except with the prior written consent of Biogen Idec, which consent shall be granted in Biogen Idec’s sole discretion: 
  

	 	(i)	sell, transfer or mortgage, pledge, lease, license or otherwise dispose of or encumber (or permit to be encumbered) any Transferred Assets, including Transferred
Intellectual Property, or transfer any Transferred Intellectual Property to any Prothena Group Company, other than sales or transfers of Transferred Inventory in the ordinary course of business consistent with past practice;

  

	 	(ii)	commence, settle or compromise any pending or threatened suit, action or claim that relates to any Alpha-4 Integrin Product, JCV Assay or any Transferred Assets; or

  

	 	(iii)	 (x) enter into any new Contractual Right, (y) terminate, modify, fail to enforce or amend any existing Contractual Right, or (z) fail to
exercise rights of renewal with respect to any existing Contractual Right that by its terms would otherwise expire, in 

  
 16 

	 	
each case, if such Contractual Right is or would be material to the Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays. 

(c) Until the Closing Date, Elan shall not, and shall cause its Affiliates not to, except with the prior written consent
of Biogen Idec, which consent shall not be unreasonably withheld: 
  

	 	(i)	terminate any TYSABRI Employees without Cause, excluding any TYSABRI Employees who had a termination letter in place on or prior to December 15, 2012. Elan hereby
represents and warrants that Schedule 2.4(c)(i) contains a complete and accurate list of all TYSABRI Employees who were employed by Elan on December 15, 2012 and had a termination letter in place on or prior to December 15, 2012,
and that no other TYSABRI Employees have been terminated since December 15, 2012. 

 2.5. [Intentionally
omitted.] 
 2.6. Biogen Idec Right to Terminate. 

(a) Biogen Idec shall have the right to terminate this Agreement prior to the Closing by giving notice to Elan if
(i) the applicable waiting period under the U.S. HSR Act has not expired or been terminated with respect to this Agreement within seventy-five (75) days after the Execution Date, (ii) the Clearance Date has not occurred within one
hundred (100) days after the Execution Date or (iii) a TYSABRI Material Adverse Change occurs after the Execution Date and before the Closing Date. 
 (b) “TYSABRI Material Adverse Change” means any event, change, fact, condition, circumstance or occurrence that has had or would reasonably be expected to have a material adverse effect
on TYSABRI sales or on the Transferred Assets, taken as a whole, including as a result of safety or regulatory matters; provided, however, that no event, change, fact, condition, circumstance or occurrence (by itself or when aggregated
or taken together with any and all other events, changes, facts, conditions, circumstances or occurrences) directly or indirectly resulting from or arising out of any of the following shall be deemed to be or constitute a “TYSABRI Material
Adverse Change” or be taken into account when determining whether a “TYSABRI Material Adverse Change” has occurred or may, would or could occur: (i) conditions (or changes after the Execution Date in such conditions) in the
industry in which the Parties operate; (ii) general economic conditions or conditions in the securities markets, credit markets, currency markets or other financial markets (or changes after the Execution Date in such conditions) with the
United States or any other country; (iii) political conditions (or changes after the Execution Date in such conditions) in the United States or any other country; (iv) earthquakes or other natural disasters and other force majeure events
in the United States or any other country; (v) the announcement of this Agreement and the Transactions; (vi) the taking of any action required or contemplated by this Agreement, 

  
 17 

 CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY 

WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST 

FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 UNDER THE SECURITIES 

EXCHANGE ACT OF 1934, AS AMENDED. 
 ASTERISKS (*) DENOTE SUCH OMISSIONS. 
  

 
or the failure to take any action prohibited by this Agreement or the pendency or consummation of the Transactions; (vii) changes in applicable law or other legal or regulatory conditions or
changes in United States Generally Accepted Accounting Principles or other accounting standards (or the interpretation thereof) (other than changes described in Section 2.6(c)(ii) below); (viii) the occurrence of PML in TYSABRI-treated
patients (except to the extent set forth in Section 2.6(c)(i)); (ix) the development, approval and commercialization of other pipeline product candidates that may compete with TYSABRI, including but not limited to BG-12; or
(x) changes in government regulations or private third party payors’ reimbursement policies or the default by such parties in the performance of such policies, or the imposition of any health care cost containment or similar measures by a
governmental authority (except to the extent set forth in Section 2.6(c)(ii)). 
 (c) Notwithstanding
anything to the contrary contained in this Agreement, each of the following events shall be deemed to be, without limitation, a TYSABRI Material Adverse Change: 
  

	 	(i)	the occurrence of PML in TYSABRI-treated patients unless all of the following are true: 

 

	 	(A)	the average monthly number of additional PML cases during any six (6) month period ending on any date after the Execution Date does not equal or exceed [****];

  

	 	(B)	(1) if the date on which Biogen Idec gives notice of termination pursuant to Section 2.6(a)(iii) is not more than one hundred (100) days after the Execution
Date, the total number of TYSABRI-treated patients who are Anti-JCV Antibody Negative that are or have ever been diagnosed with PML does not exceed [****] as of such date, or (2) if the date on which Biogen Idec gives notice of termination
pursuant to Section 2.6(a)(iii) is more than one hundred (100) days after the Execution Date, the total number of TYSABRI-treated patients who are Anti-JCV Antibody Negative that are or have ever been diagnosed with PML does not exceed
[****] as of such date; 

  

	 	(C)	the incidence of PML in TYSABRI-treated patients who are Anti-JCV Antibody Positive, have no prior immunosuppressant use and an exposure to TYSABRI of up to 24 months
does not equal or exceed [****] per 1,000 TYSABRI-treated patients; 

  
 18 

 CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY 

WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST 

FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 UNDER THE SECURITIES 

EXCHANGE ACT OF 1934, AS AMENDED. 
 ASTERISKS (*) DENOTE SUCH OMISSIONS. 
  

	 	(D)	the incidence of PML in TYSABRI-treated patients who are Anti-JCV Antibody Positive, have no prior immunosuppressant use and an exposure to TYSABRI of 25 to 48 months
does not equal or exceed [****] per 1,000 TYSABRI-treated patients; 

  

	 	(E)	the incidence of PML in TYSABRI-treated patients who are Anti-JCV Antibody Positive, have prior immunosuppressant use and an exposure to TYSABRI of up to 24 months does
not equal or exceed [****] per 1,000 TYSABRI-treated patients; and 

  

	 	(F)	the incidence of PML in TYSABRI-treated patients who are Anti-JCV Antibody Positive, have prior immunosuppressant use and an exposure to TYSABRI of 25 to 48 months does
not equal or exceed [****] per 1,000 TYSABRI-treated patients; 

 in each case as measured by the most recent data
available to both Parties and their Affiliates under the Collaboration Agreement; or 
  

	 	(ii)	changes in government regulations or private third party payors’ reimbursement policies or the default by such parties in the performance of such policies, or the
imposition of any health care cost containment or similar measures by a governmental authority unless such changes or measures, in the aggregate, would not have decreased by more than 7.5% the worldwide net revenues for TYSABRI (as reported and
calculated by the Parties pursuant to the Collaboration Agreement) during the twelve (12) month period preceding the date of implementation of the most recent of such changes or measures (or the most recent twelve (12) month period for
which worldwide net revenues for TYSABRI were reported and calculated by the Parties pursuant to the Collaboration Agreement) had such changes or measures been in effect during such twelve (12) month period. 

 

	3.	Transfer of Assets. 

3.1. Transferred Assets. Subject to the terms and conditions set forth in this Agreement, Elan shall transfer and assign (or cause
to be transferred and assigned) to Biogen 

  
 19 

 
Idec (or, with respect to any of the Transferred Assets, any other Affiliate of Biogen Idec designated by Biogen Idec), at the Closing, all right, title and interest of Elan or any Affiliate of
Elan in and to the following assets, in each case to the extent not included in the Excluded Assets (the “Transferred Assets”): 
 (a) the Elan Patents set forth on Schedule 1.1(r), Schedule 1.1(t)(A), Schedule 1.1(t)(B), Schedule 7.2(h) and Schedule 7.2(q), and all rights of action accrued and
to accrue under and by virtue thereof, including the right to sue and recover for past infringement of such Elan Patents; 
 (b) all Elan Know-how, and all rights of action accrued and to accrue under and by virtue thereof, including the right to sue and recover for past infringement or misappropriation of Elan Know-how,
including the Know-how listed on Schedule 3.1(b); 
 (c) the Product Trademarks set forth on
Schedule 1.1(ll), together with any goodwill of the business symbolized by the Product Trademarks (or, with respect to any pending applications in the U.S. based on an intent-to-use a Product Trademark, if proof of use has not been filed and
accepted by the USPTO, Elan hereby represents and warrants that it is assigning such Product Trademarks to Biogen Idec together with the portion of Elan’s business in connection with which it had a bona fide intent to use the Product Trademark
at the time of filing such application), all registrations and applications for the Product Trademarks, and all rights of action accrued and to accrue under and by virtue thereof, including the right to sue and recover for past infringement of the
Product Trademarks; 
 (d) the Product Domain Names set forth on Schedule 1.1(jj); 

(e) all other Intellectual Property (including any Elan Patent that is not set forth on Schedule 1.1(r),
Schedule 1.1(t)(A), Schedule 1.1(t)(B), Schedule 7.2(h) or Schedule 7.2(q)) that is Controlled by Elan or any of its Affiliates on the Closing Date and used or held for use in connection with the Development,
manufacturing or Commercialization of Alpha-4 Integrin Products (including Licensed Products) or JCV Assays, or that otherwise relates to Alpha-4 Integrin Products, JCV Assays, PML or JCV, and all rights of action accrued and to accrue under and by
virtue of such Intellectual Property, including the right to sue and recover for past infringement or misappropriation of such Intellectual Property (such other Intellectual Property, together with the Elan Patents set forth on Schedule
1.1(r), Schedule 1.1(t)(A), Schedule 1.1(t)(B), Schedule 7.2(h) or Schedule 7.2(q), Elan Know-how, Product Trademarks and the Product Domain Names, the “Transferred Intellectual Property”);

 (f) (i) all regulatory submissions related to Alpha-4 Integrin Products and JCV Assays (including all Clinical
Trial Applications and Drug Approval Applications) and all Regulatory Approvals in Elan’s name; (ii) all clinical data, written correspondence with Regulatory Authorities, all written minutes of meetings and memoranda of conversations
between Elan (including, to the extent practicable, Elan’s investigators) and Regulatory Authorities, each to the extent they relate to any Alpha-4 Integrin Product, JCV Assay or the regulatory submissions and Regulatory Approvals

  
 20 

 
described in clause (i) of this sentence; (iii) the Product NDCs; and (iv) all data, correspondence and any other information related to the TOUCHTM Prescribing Program or the
TYGRIS system (collectively, “Regulatory Materials”), including the Regulatory Materials listed on Schedule 3.1(f); 
 (g) all Contractual Rights then in effect that are used or held for use by Elan that grant Elan a license to or right to use any Third Party Patent, Know-how or other Intellectual Property for the
Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays (each such Contractual Right, an “In-License”), and all rights under such In-Licenses, including the In-Licenses set forth on Schedule
3.1(g) (the “Transferred License Agreements”); 
 (h) all other Contractual Rights then in
effect that are primarily used or held for use by Elan in connection with, or that primarily relate or are otherwise necessary to, the Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays, and all rights under
such Contractual Rights, including the Contractual Rights set forth on Schedule 3.1(h) (the “Transferred Contracts”); 
 (i) all saleable finished goods inventory of TYSABRI held for sale by Elan (or on behalf of Elan), wherever located (“Transferred Inventory”); 

(j) all business, financial (including tax returns relating to pharmaceutical excise taxes paid with respect to sales of
TYSABRI prior to the Closing Date, including annual fees due under Section 9008 of the United States Patient Protection and Affordable Care Act of 2010 (Pub. L. No. 111-48) and other comparable laws), accounting, manufacturing, technical
or regulatory records, correspondence, lists (including all customer, distributor, supplier and mailing lists), drawings, notebooks (including laboratory notebooks), specifications, creative materials, marketing plans, government contracts
(including tender information and pricing or reimbursement agreements), advertising, marketing and promotional materials (including TYSABRI Promotional Materials) and other books and records whether written or electronically stored or however
otherwise recorded, maintained or stored (including in each case all copies thereof and all rights in and to the information contained therein), in each case that are primarily used or held for use in or are otherwise necessary to, or were generated
primarily with respect to, the Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays, including all embodiments of the Elan Know-how and the file wrappers for the Elan Patents in the possession of Elan or
Elan’s patent counsel as of the Closing Date (collectively, the “Books and Records”); provided, however, that to the extent any such Books and Records are not exclusively related to the Development, manufacturing
or Commercialization of Alpha-4 Integrin Products or JCV Assays, Elan will deliver copies of such Books and Records (redacted with respect to the portions thereof which do not primarily relate to the Development, manufacturing or Commercialization
of Alpha-4 Integrin Products or JCV Assays) and retain the original Books and Records and make such original Books and Records available to Biogen Idec upon request; provided, further, that, notwithstanding the foregoing, Elan may
retain hard copy or electronic duplicates of the Books and Records; and 

  
 21 

 (k) all other assets and rights of Elan and its Affiliates of whatever kind
and nature, tangible or intangible, owned, leased, licensed, used or held for use or licensed by or on behalf of Elan and its Affiliates on the Closing Date, other than real property, that are primarily used or held for use in connection with, or
are otherwise necessary to, the Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays. 

3.2. Excluded Assets. For the avoidance of doubt, Biogen Idec acknowledges and agrees that Elan is not transferring, assigning or
delivering to Biogen Idec any right, title or interest in, to or under any of the Excluded Assets, and the Excluded Assets shall remain the property of Elan. For purposes of this Agreement, “Excluded Assets” means: 

(a) all real property, computers (but not any Transferred Intellectual Property or Books and Records stored electronically
therein), automobiles, fixtures or equipment leased or owned by Elan; 
 (b) subject to Section 4.6, all
accounts receivable, notes receivable and similar rights to receive payments of Elan; 
 (c) all cash and cash
equivalents; 
 (d) any personnel records maintained by Elan, tax returns (other than copies of tax returns
relating to pharmaceutical excise taxes paid with respect to sales of TYSABRI prior to the Closing Date, including annual fees due under Section 9008 of the United States Patient Protection and Affordable Care Act of 2010 (Pub. L.
No. 111-48) and other comparable laws), records (including accounting records) relating to taxes paid or payable by Elan, and financial and tax records relating to the Alpha-4 Integrin Products or JCV Assays that form part of Elan’s
general ledger or otherwise constitute accounting records, including the original Books and Records retained by Elan in accordance with Section 3.1(j) (but no other Books and Records); 

(e) any Contractual Rights between Elan and any of its employees; 

(f) all property in the nature of software programs, source code and object code owned or licensed by Elan or any of its
Affiliates; 
 (g) goodwill held by Elan, if any, that would be subject to the taxes described in
Section 4.4(d) or 4.4(e) if it were a Transferred Asset; and 
 (h) any assets listed on an Exclusion Notice
described in Section 3.4(d) below. 
 3.3. Assumed Liabilities. At the Closing, Biogen Idec shall assume and shall
satisfy and discharge when due in accordance with their respective terms and subject to the respective conditions thereof, only the liabilities and obligations under the Transferred Contracts or the Transferred License Agreements or imposed on the
holder of a Regulatory Approval, in each case, to the extent such liabilities and obligations relate to obligations required to be performed on or after the Closing Date (all such liabilities and obligations, the “Assumed
Liabilities”). 

  
 22 

 
Subject to Section 4.6 and Section 12, neither Biogen Idec nor any of its Affiliates shall assume or be obligated to pay, perform or otherwise discharge or have any responsibility for,
any liabilities or obligations of Elan other than the Assumed Liabilities.
 3.4. Updating and Supplementing the Asset
Schedules; Exclusion of Assets. 
 (a) If Elan becomes aware at any time after the Execution Date that any
Asset Schedule omits an item that should have been included, Elan shall (including after the Closing) offer an updated or supplemental Asset Schedule to Biogen Idec containing such item(s), which Biogen Idec may, but is not required to, accept.

 (b) Within sixty (60) days after the Execution Date, but in any event no later than the Closing Date (or
with respect to any item later added to the Asset Schedules in accordance with Section 3.4(a), at the time such item is added), Elan shall provide Biogen Idec with a true, correct and complete copy of any Regulatory Materials, In-License or
Contractual Right listed on Schedule 3.1(f), Schedule 3.1(g) or Schedule 3.1(h) or, if such Regulatory Materials, In-License or Contractual Right is in oral form, a complete written description thereof. At such time Elan shall
also describe in writing, with respect to each item included on the Asset Schedules, any required consent or other impediment to the transfer of such item to Biogen Idec or any Affiliate pursuant to this Agreement. 

(c) Elan shall promptly provide additional due diligence information with respect to each item listed on the Asset
Schedules as Biogen Idec may reasonably request. Elan shall supply such information as soon as reasonably practicable and in any event within fifteen (15) days of Biogen Idec’s written request therefor. 

(d) Within thirty (30) days after the Execution Date (or with respect to any Regulatory Materials, Contractual Right
or In-License Elan later added to the Asset Schedules in accordance with Section 3.4(a), thirty (30) days after such item was added) or, if later, thirty (30) days after receipt of a true, complete and correct copy of the applicable
Regulatory Materials, Contractual Right or In-License, Biogen Idec may provide (including after the Closing) written notice to Elan that it desires to exclude any Regulatory Materials, Contractual Right or In-License listed thereon from the
Transferred Assets (each such notice, an “Exclusion Notice”). 
 3.5. Consents. Elan shall, and shall
cause its Affiliates to, use, both prior to and after the Closing Date, commercially reasonable efforts to obtain, and Biogen Idec shall, and shall cause its Affiliates to, use commercially reasonable efforts to assist and cooperate with Elan and
its Affiliates in connection therewith, all necessary consents to the assignment and transfer of any Transferred Asset to Biogen Idec (and the subsequent assignment by and transfer from Biogen Idec to any of its designated Affiliates, in Biogen
Idec’s sole discretion) that is not assignable or transferable without the consent of any Third Party (such consents, the “Required Third Party Consents”). With respect to any such Transferred Asset, after the Closing Date and
until the requisite consent is obtained and the foregoing is transferred and assigned to Biogen Idec or an Affiliate, Elan, to the extent permitted by applicable law, shall (or shall cause its Affiliates to) provide to Biogen Idec or its Affiliates,
at no cost or expense, the benefits thereof 

  
 23 

 
(or substantially comparable benefits) and shall enforce, at the request of and for the account of Biogen Idec or its Affiliate, any rights of Elan or its Affiliates arising thereunder against
any Third Party, including the right to elect to terminate in accordance with the terms thereof upon the advice of Biogen Idec. If Biogen Idec or its Affiliate is provided with benefits of any such Transferred Asset, then, to the extent permitted by
applicable laws and the terms of any applicable Contractual Right or Regulatory Approval, Biogen Idec shall, or shall cause its Affiliate to, perform, at the request of Elan, the obligations of Elan thereunder. 

3.6. Due Diligence. Elan shall, and shall cause its Affiliates to, promptly provide to Biogen Idec such information as Biogen Idec
or its Affiliates may reasonably request with respect to the Alpha-4 Integrin Products, JCV Assays or Transferred Assets, before and after the Closing. Elan shall permit Biogen Idec and its Affiliates to have access (at reasonable times and upon
reasonable notice) to all relevant employees of Elan and to all of the Transferred Assets and to make copies as Biogen Idec may reasonably request. 
 3.7. Regulatory Cooperation. Elan shall notify the appropriate Regulatory Authorities and take any other action reasonably necessary to effect the transfer of ownership of the Regulatory Materials.
Elan shall notify and consult with Biogen Idec or its designated Affiliate promptly after receipt of any communication between Elan and any Regulatory Authority with respect to any such transfer, and before giving any submission to any Regulatory
Authority with respect to any such transfer. If ownership of any Regulatory Materials cannot be transferred to Biogen Idec in any country, to the extent permitted by applicable law, Elan hereby grants to Biogen Idec and its designated Affiliates a
permanent, exclusive and irrevocable right of access and reference to such Regulatory Materials for Alpha-4 Integrin Products and JCV Assays in such country. If such right of access and reference is not sufficient to permit Biogen Idec and its
Affiliates to file a Drug Approval Application and receive Regulatory Approval or to Develop, make, market, use or sell an Alpha-4 Integrin Product or JCV Assay, Elan shall provide Biogen Idec and its designated Affiliates with the complete data
package that Elan used in regulatory submissions in such country in order to allow Biogen Idec and its Affiliates to file such Drug Approval Applications and to receive Regulatory Approval in its own name. In addition, if in any country the transfer
of the Regulatory Approval necessary for Biogen Idec or its designated Affiliate to commercialize TYSABRI in such country is not (or is not expected to be) effective on the Closing Date, then the Parties will work together in good faith to enter
into a promotion agreement (in a mutually agreed form of a distribution, agency or other arrangement) that would permit Biogen Idec or its designated Affiliate the exclusive right to commercialize TYSABRI in the applicable country from and after the
Closing until such Regulatory Approval is transferred. 
 3.8. Transfer of Inventory. On the Closing Date, Elan Inc.
shall consummate the sale of the Transferred Inventory by delivering possession of the Transferred Inventory to Biogen Idec or to its Affiliate designated to purchase and/or receive the Transferred Inventory. 

3.9. Transfer of Know-How and Books and Records. As soon as reasonably practicable following the Closing and in accordance with
the Transition Plan, Elan shall deliver to Biogen Idec or its designated Affiliate, in electronic or hard copy format, the Elan Know-how and the Books and Records. If any of the embodiments of the Elan Know-how or any of the Books and Records
contain proprietary information of Elan that is not Elan Know-how, then 

  
 24 

 
Elan shall be permitted to redact such information prior to delivering such embodiment or such Books and Records to Biogen Idec or its designated Affiliate. 

3.10. Transition. 
 (a) In order to effect an orderly transition of all Development and Commercialization activities to Biogen Idec and to facilitate the transfer of the Transferred Assets and other rights assigned or
licensed to Biogen Idec under this Agreement: (i) Elan shall make its personnel, and shall cause its Affiliates to make their personnel, available to Biogen Idec and its designated Affiliates as reasonably requested by Biogen Idec from time to
time; (ii) the Parties agree to comply with the provisions of the Transition Plan, which is attached hereto as Exhibit C; and (iii) each Party shall appoint one individual to have primary responsibility and oversight for, and to
serve as the primary point of contact regarding, the transition and transfer activities contemplated by this Agreement (including the Transition Plan) after the Closing. 

(b) Each Party shall bear its own costs in performing its obligations under this Agreement (including the Transition
Plan). 
 (c) Biogen Idec hereby grants to Elan (and shall cause its Affiliates to grant to Elan), a worldwide,
non-exclusive, non-royalty-bearing license, without the right to sublicense, under the Transferred Assets solely to the extent necessary to perform its obligations under this Agreement (including the Transition Plan). 

(d) As soon as reasonably practicable following the Closing (and, in any event, no later than twenty (20) Business
Days after the Closing Date), Elan shall return to Biogen Idec any and all proprietary materials transferred by Biogen Idec to Elan pursuant to Section 4.9 of the Collaboration Agreement. 

(e) After the Closing, Elan shall not, and shall cause its Affiliates not to, without the prior consent of Biogen Idec
(which consent shall be granted in Biogen Idec’s sole discretion) terminate any TYSABRI Employee other than for Cause prior to the completion of the transition and transfer activities contemplated by this Agreement (including the Transition
Plan) with respect to which such TYSABRI Employee has or had relevant experience or knowledge. For purposes of this Agreement, “Cause” shall mean, with respect to a TYSABRI Employee, any of the following: (i) willful breach,
habitual neglect, or poor performance of such TYSABRI Employee’s job duties and responsibilities, as determined by Elan in its sole discretion; (ii) such TYSABRI Employee’s conviction (or the entry of a guilty plea or plea of nolo
contendre) of any crime, excluding minor traffic offenses; (iii) commission of an act of dishonesty or breach of fiduciary duty by such TYSABRI Employee; (iv) commission of a material violation of any of the personnel policies of Elan by
such TYSABRI Employee, including but not limited to, violations of Elan’s confidentiality or stock trading policies or its policies against any form of harassment; or (v) any action or omission by such TYSABRI Employee, which, as
reasonably determined by Elan, is contrary to the business interest, reputation or goodwill of Elan. 

  
 25 

 3.11. Further Assurances. 

(a) From and after the Closing Date, upon the request of either Party, the other Party will perform, execute, acknowledge
and deliver all such further acts, assurances, deeds, assignments, transfers, conveyances and other instruments and papers as may be reasonably required or appropriate to carry out the Transactions, including the transfer and assignment of the
Transferred Intellectual Property. 
 (b) To the extent Elan cannot transfer and assign any of the Transferred
Intellectual Property, or any portion thereof, as of the Closing, then Elan will assign and transfer such Transferred Intellectual Property at the first opportunity to do so. To the extent further transfer or assignment of any Transferred
Intellectual Property is required and Elan has not executed and returned the form of assignment reasonably requested by Biogen Idec to Biogen Idec within twenty (20) Business Days of the delivery of such assignment to Elan, then Elan hereby
irrevocably appoints Biogen Idec as its attorney-in-fact with the right, authority and ability to execute and enter into such assignment on behalf of Elan. Elan stipulates and agrees that such appointment is a right coupled with an interest and will
survive the incapacity or unavailability of Elan at any future time. To the extent that any Transferred Intellectual Property cannot be assigned and transferred by Elan, then Elan hereby grants Biogen Idec an irrevocable, worldwide, fully-paid up,
royalty-free, exclusive license, with the right to sublicense, to make, use, sell, improve, reproduce, distribute, perform, display, transmit, manipulate in any manner, create derivative works based upon, and otherwise exploit or utilize in any
manner the Transferred Intellectual Property. In addition, Elan hereby releases, discharges, and covenants not to assert against Biogen Idec and its Affiliates, officers, directors, employees, contractors, customers, agents, representatives,
assignees, licensees, partners, joint venturers, and distributors all claims, causes, obligations, rights of action, or liabilities of any kind or nature, whether now existing or hereinafter arising, and whether known or unknown arising from or
relating to Transferred Intellectual Property. 
 (c) Elan will not take any action that is designed or intended
to have the effect of discouraging any licensor, supplier, distributor, independent contractor or customer of Elan or other Third Party with whom Elan has a relationship relating to any Alpha-4 Integrin Product or JCV Assay from maintaining the same
relationship with Biogen Idec and its Affiliates after the Closing as such Third Party maintained prior to the Closing or from entering into a new business relationship or expanding the scope of a business relationship with Biogen Idec and its
Affiliates. Elan will refer all customer and other Third Party inquiries relating to Alpha-4 Integrin Products and JCV Assays to Biogen Idec from and after the Closing Date. 

(d) From and after the Closing Date, Biogen Idec shall afford to Elan and its accountants, counsel and other
representatives reasonable access, upon reasonable notice during normal business hours, to all Books and Records as Elan may reasonably request for purposes of tax, accounting, regulatory and legal compliance or for purposes of prosecuting or
defending litigation. 

  
 26 

 (e) Before and after the Closing, each Party shall, and shall cause its
Affiliates, to cooperate with and provide the other Party, and its Affiliates, such information as the other Party may reasonably request with respect to preparing any securities filings or public disclosures that may be required to be made by the
other Party or any of its Affiliates in connection with the Transactions. 
 (f) If, at any time, either Party
determines that any right, title or interest in, to or under any Patent, Know-how or other Intellectual Property was transferred by Elan to any Prothena Group Company prior to the Closing and such Patent, Know-how or other Intellectual Property
would have been “Transferred Intellectual Property” under this Agreement had such Patent, Know-how or other Intellectual Property been Controlled by Elan on the Execution Date or Closing Date (such Patent, Know-how or other Intellectual
Property, the “Improperly Transferred Prothena IP”), Elan shall, at its own expense, use commercially reasonable efforts to exercise any rights granted to Elan under any agreement between Elan and such Prothena Group Company to
acquire any right, title or interest in, to or under such Improperly Transferred Prothena IP to acquire from such Prothena Group Company any right, title or interest in, to or under such Improperly Transferred Prothena IP reasonably requested by
Biogen Idec, and Elan shall transfer and assign to Biogen Idec any such rights, title and interests acquired from such Prothena Group Company for no additional consideration. If (i) Elan is unable to acquire from such Prothena Group Company any
right, title or interest in, to or under such Improperly Transferred Prothena IP reasonably requested by Biogen Idec and (ii) Biogen Idec subsequently acquires such right, title or interest, Elan will reimburse Biogen Idec for all reasonable
cost and expenses incurred by Biogen Idec in such acquisition. This Section 3.11(f) shall not apply to the licenses granted by Elan to Neotope Biosciences Limited pursuant to the Intellectual Property License and Conveyance Agreement among
Neotope Biosciences Limited, Elan and Elan Inc., dated as of December 20, 2012, and the Amended and Restated Intellectual Property License and Contribution Agreement among Neotope Biosciences Limited, Elan and Elan Inc., dated as of
December 20, 2012, to use antibodies 6F10, 5E10, 5D8 and 8G9, which specifically bind ELND-002, solely for research purposes relating to certain research projects defined in such agreements (such licenses, the “Excluded Prothena
Licenses”).  
 (g) If, at any time, either Party determines that any Patent or other
Intellectual Property (other than Know-how) that is necessary or useful to, or any Know-how that is necessary to, Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported any
Alpha-4 Integrin Product or JCV Assay, or that relates to PML or JCV, was discovered, developed, conceived or reduced to practice prior to the Closing pursuant to or in connection with any agreement between Elan and any Prothena Group Company, and
such Patent, Know-how or other Intellectual Property was not included in the Transferred Intellectual Property assigned to Biogen Idec at the Closing (such Patent, Know-how or other Intellectual Property, the “Blocking Prothena
IP”), then Elan shall, at its own expense, use commercially reasonable efforts to exercise any rights granted to Elan under any agreement between Elan and such Prothena Group Company to acquire any right, title or interest in, to or under
such Blocking Prothena IP to acquire from such Prothena Group Company any right, title or interest in, to or under such Blocking Prothena IP reasonably requested by Biogen Idec, and Elan 

  
 27 

 
shall transfer and assign to Biogen Idec any such rights, title and interests acquired from such Prothena Group Company for no additional consideration. If (i) Elan is unable to acquire from
such Prothena Group Company any right, title or interest in, to or under such Blocking Prothena IP reasonably requested by Biogen Idec and (ii) Biogen Idec subsequently acquires such right, title or interest, Elan will reimburse Biogen Idec for
all reasonable cost and expenses incurred by Biogen Idec in such acquisition. This Section 3.11(g) shall not apply to the Excluded Prothena Licenses. 
 (h) Elan hereby assigns to Biogen Idec, as of the Closing and to the extent permitted by applicable law, all of Elan’s rights under any confidentiality, proprietary information and/or invention
agreement, or any similar agreement, between Elan and any TYSABRI Employee, including the TYSABRI Employees set forth on Schedule 3.11(h), with respect to any Alpha-4 Integrin Product Confidential Information, any Transferred Intellectual
Property or any Patent, Know-how or other Intellectual Property that would have been “Transferred Intellectual Property” under this Agreement if it had been Controlled by Elan on Closing Date; provided, however, that, if the
assignment of any such rights is not permitted by applicable law, Elan shall, at the request of Biogen Idec, enforce such rights for the benefit of Biogen Idec. Biogen Idec shall reimburse Elan for any costs and expenses that Elan incurs with
respect to enforcing such rights for the benefit Biogen Idec; provided, however, that if such enforcement is necessary because of Elan’s negligence prior to the Closing, Elan shall bear such costs and expenses. 

 

	4.	Consideration. 

4.1. Upfront Payment. Subject to the terms and conditions of this Agreement, Biogen Idec shall make a one-time payment to Elan at
the Closing of three billion, two hundred forty-nine million dollars ($3,249,000,000) plus the Estimated Closing Date Inventory Value set forth in the statement referred to in the first sentence of Section 4.8 (together, the “Upfront
Payment”), which payment shall be irrevocable, non-refundable and non-creditable toward any other payments due to Elan. 
 4.2. Contingent Payments. 
 (a) Subject to the terms and
conditions of this Agreement, Biogen Idec or its designated Affiliates shall pay to Elan, with respect to aggregate Net Sales in all countries in the Territory during the twelve (12) month period beginning on the first day of the first full
calendar month after the Closing Date (the “Initial Contingent Payment Period”), twelve percent (12%) of aggregate Net Sales during such period in all countries in the Territory. 

(b) Subject to the terms and conditions of this Agreement, Biogen Idec or its designated Affiliates shall pay to Elan,
with respect to aggregate Net Sales in all countries in the Territory during the period (if any) beginning on the first day after the end of the Initial Contingent Payment Period and ending on December 31, 2014, the following amounts:

  
 28 

	 	(i)	eighteen percent (18%) of the portion of aggregate Net Sales during such period in all countries in the Territory less than or equal to the Threshold; plus

  

	 	(ii)	twenty-five percent (25%) of the portion of aggregate Net Sales during such period in all countries in the Territory greater than the Threshold.

 (c) Subject to the terms and conditions of this Agreement, Biogen Idec or its designated
Affiliates shall pay to Elan, with respect to aggregate Net Sales in all countries in the Territory during calendar year 2015 and each calendar year thereafter in the Term, the following amounts: 

 

	 	(i)	eighteen percent (18%) of the portion of aggregate Net Sales during such period in all countries in the Territory less than or equal to the Threshold; plus

  

	 	(ii)	twenty-five percent (25%) of the portion of aggregate Net Sales during such period in all countries in the Territory greater than the Threshold.

 By way of example only, if the Net Sales in calendar year 2015 were $2.5 billion, the amount owed pursuant to
this Section 4.2(c) would be the sum of (A) 18% of $2.0 billion (or $360 million) and (B) 25% of $500 million (or $125 million), for a total of $485 million. 

(d) For purposes of Section 4.2(b) and Section 4.2(c), “Threshold” shall mean: 

 

	 	(i)	with respect to the period beginning on the first day after the end of the Initial Contingent Payment Period and ending on December 31, 2014, the amount set forth
below opposite the first full calendar month that occurs after the end of the Initial Contingent Payment Period, as reduced from time to time, effective upon the consummation of any TYSABRI Transaction in a Major Market Country with a Third Party
Transferee pursuant to Section 4.9(c)(ii)(B); and 

  
 29 

					
	 March 2014
	  	$	1,666,666,666.67	  
	 April 2014
	  	$	1,500,000,000.00	  
	 May 2014
	  	$	1,333,333,333.33	  
	 June 2014
	  	$	1,166,666,666.67	  
	 July 2014
	  	$	1,000,000,000.00	  
	 August 2014
	  	$	833,333,333.33	  
	 September 2014
	  	$	666,666,666.67	  
	 October 2014
	  	$	500,000,000.00	  
	 November 2014
	  	$	333,333,333.33	  
	 December 2014
	  	$	166,666,666.67	  

  

	 	(ii)	with respect to calendar year 2015 and each calendar year thereafter during the Term, two billion dollars ($2,000,000,000), as reduced from time to time, effective upon
the consummation of any TYSABRI Transaction in a Major Market Country with a Third Party Transferee pursuant to Section 4.9(c)(ii)(B). 

 (e) For purposes of this Agreement, “Contingent Payments” shall mean the payments payable to Elan under Section 4.2. No Contingent Payments will be payable with respect to sales
between or among Biogen Idec and its Affiliates. 
 (f) If, during the Term, Biogen Idec reasonably determines in
good faith that, in order to avoid infringement of any Patent of any Third Party, it is necessary to (i) obtain a license from such Third Party in order for Biogen Idec or any of its Affiliates, distributors or licensees to make, have made,
use, market, sell, distribute, export, import, offer for sale, or have sold, distributed or imported, TYSABRI in any country in the Territory and (ii) pay royalties or other monetary consideration to such Third Party under such license, then
the Contingent Payments shall be reduced by an amount equal to fifty percent (50%) of the amount payable by Biogen Idec or its Affiliate to such Third Party under such license, but only to the extent that such amount is paid in consideration of
a license to make, have made, use, market, sell, distribute, export, import, offer for sale, or have sold, distributed or imported TYSABRI. Any such amounts that Biogen Idec is not able to reduce in a Calendar Quarter will be carried forward for
reductions against Contingent Payments in subsequent Calendar Quarters. For the sake of clarity, the Contingent Payments shall not be reduced pursuant to this Section 4.2(f) with respect to any amounts paid by Biogen Idec or its Affiliate to a
Third Party under the Transferred License Agreements or any licenses held by Biogen Idec or its Affiliates prior to the Closing Date. 
 (g) [Intentionally omitted.] 
 (h) If, during the Term, Elan
challenges under any court Action, or before any patent office, in any country in the Territory, the validity, patentability, enforceability, scope or non-infringement of any Elan Patent or any other Patent Controlled by Biogen

  
 30 

 
Idec or any of its Affiliates that (i) claims an Alpha-4 Integrin Product or any uses of Alpha-4 Integrin Products, (ii) claims a JCV Assay or any uses of a JCV Assay, or
(iii) otherwise relates to PML or JCV, or initiates a reexamination of any such Patent, or assists any Third Party to conduct any of the foregoing activities (each, a “Challenge”), then the Net Sales in such country shall
thereafter be excluded from the calculation of the Contingent Payments. Elan will notify Biogen Idec at least thirty (30) days prior to initiating any such Challenge. 

4.3. Payment Terms. 
 (a) Biogen Idec or its designated Affiliates shall make Contingent Payments to Elan with respect to each Calendar Quarter within sixty (60) days after the end of such Calendar Quarter, and each such
Contingent Payment shall be accompanied by a report identifying the Net Sales for such Calendar Quarter and the amount payable to Elan. All Contingent Payments not made when due shall bear interest, calculated from the date such Contingent Payment
was due, at the rate of two percent (2%) over the prime rate of interest as published in the weekly Federal Reserve H.15 Bulletin, or any successor bulletin thereto. Biogen Idec shall, as soon as reasonably practicable after the end of each
calendar year, recalculate the Contingent Payments for such calendar year based on changes to Net Sales that arose as a result of the preparation of the audited financial statements for Biogen Idec and its Affiliates for such calendar year and issue
a final report to Elan for such calendar year. If the amount of the Contingent Payments for such calendar year as recalculated exceeds the amount of Contingent Payments actually paid by Biogen Idec pursuant to Section 4.2 for such calendar
year, Biogen Idec will pay Elan the amount of such excess as soon as reasonably practicable. If the amount of the Contingent Payments for such calendar year actually paid by Biogen Idec pursuant to Section 4.2 exceeds the amount of Contingent
Payments as recalculated, the amount of such excess will be applied against the payment of the next Contingent Payment thereafter until such excess has been applied in full. 

(b) If Net Sales in any Calendar Quarter during the Term are less than zero (as a result of returns or recalls of TYSABRI
or any other circumstance), then Biogen Idec will not be obligated to make Contingent Payments to Elan for such Calendar Quarter, and for purposes of calculating Contingent Payments with respect to the fourth Calendar Quarter of such year, Net Sales
for such fourth Calendar Quarter shall be reduced by the aggregate amount of negative Net Sales in each Calendar Quarter of such year in which Net Sales are less than zero. If, as a result of such reduction, the aggregate Net Sales with respect to
such fourth Calendar Quarter are less than zero, then, for purposes of calculating Contingent Payments with respect to the first Calendar Quarter of the next succeeding year, Net Sales for such first Calendar Quarter shall be reduced by the amount
of negative Net Sales in the fourth Calendar Quarter of the immediately preceding year. 
 (c) Each payment under
this Agreement shall be made by electronic transfer in immediately available funds via either a bank wire transfer, an ACH (automated clearing house) mechanism, or any other means of electronic funds transfer, at Biogen Idec’s election, to such
bank account as Elan shall designate in a notice at least five (5) Business Days before the payment is due. 

  
 31 

 (d) All payments due under this Agreement shall be made in United States
dollars. Whenever, for the purposes of calculating Contingent Payments, conversion from any foreign currency will be required, all amounts will first be calculated in the currency of sale and then converted into United States dollars by applying the
monthly average rate of exchange calculated by using the foreign exchange rates published in Bloomberg during the applicable month starting two (2) Business Days before the beginning of such month and ending two (2) Business Days before
the end of such month as utilized by Biogen Idec, in accordance with generally accepted accounting principles, fairly applied and as employed on a consistent basis throughout Biogen Idec’s operations. For the avoidance of doubt, for all
purposes in this Agreement, any hedging or derivatives transaction engaged in by Biogen Idec with respect to sales of TYSABRI shall be disregarded. 
 (e) If, at any time, legal restrictions prevent the prompt remittance of part or all Contingent Payments with respect to any country in the Territory where TYSABRI is sold, Contingent Payments shall
continue to be accrued in such country and Net Sales in such country shall continue to be reported, but such Contingent Payments will not be paid until they may be removed from the country or, at Elan’s request, shall be paid in the local
currency into a local bank designated by Elan for the account of Elan. If such Contingent Payments are accrued, then at such time as Biogen Idec is able to remove currency from such country it shall also remove and pay such Contingent Payments
accrued on Elan’s behalf. 
 4.4. Tax Matters. 

(a) VAT. In this Agreement the amount of any payment for a supply of goods or services or the value of any supply
(including the value of any supply referred to in calculating any sum due under this Agreement) made or deemed to be made pursuant to this Agreement shall be taken to be exclusive of any VAT properly chargeable on the supply and the amount of such
VAT properly chargeable shall be paid by Biogen Idec in addition to any payment due under this Agreement or, if no payment is due, the amount of such VAT properly chargeable shall be paid at the time the supply is made or a VAT invoice is issued,
whichever is earlier. The Parties acknowledge and agree that no VAT liability is expected to arise on any supplies of goods or services arising under this Agreement based, in particular, on the representations and warranties included in Sections
7.2(ee), 7.3(c) and 7.3(d). Notwithstanding the above or anything to the contrary herein, if either Party determines that VAT is properly chargeable by reason of a misrepresentation by Biogen Idec in Section 7.3(c) and 7.3(d) in respect of the
supply of goods or services arising under, or as a result of, this Agreement, the relevant amounts to be paid by Biogen Idec shall be increased by the amount of such VAT properly chargeable. If either Party determines that VAT is properly chargeable
due to the actions of Elan or by reason of a misrepresentation by Elan (including a misrepresentation by Elan in Section 7.2(ee)), then the amount of such VAT properly chargeable shall be paid by Elan, provided that if such amount is
recoverable in whole or in part by Biogen Idec, then Biogen Idec shall take all necessary steps to recover such amount and, as soon as practicable after receipt by Biogen Idec of any recovered amount, Biogen Idec shall pay to Elan such recovered
amount. 

  
 32 

 (b) Tax Cooperation. The Parties agree to cooperate with respect to
the preparation of, and to produce on a timely basis, any tax forms, reports or other documentation, including an original IRS Form W-8BEN (claiming an exemption from withholding under the US/Irish income tax treaty with respect to the Upfront
Payment and the Contingent Payments), reasonably requested by the other Party in connection with this Agreement. Elan shall prepare and deliver to Biogen Idec a complete, accurate and original IRS Form W-8BEN for the Upfront Payment no later than
ten (10) days prior to the Closing Date. If there is a change in the beneficial owner or in the corporate status of Elan, or a change in any tax forms previously requested by Biogen Idec in connection with this Agreement, (i) Elan shall
notify Biogen Idec of such change in beneficial owner or status, or Biogen Idec shall notify Elan of such change in tax forms, within five (5) Business Days after such change and (ii) Elan shall provide to Biogen Idec an updated Form
W-8BEN and any other tax forms reasonably requested by Biogen Idec at least five (5) Business Days prior to the next Contingent Payment due date and, in any event, no later than thirty (30) days following such change. Each Party further
agrees to provide reasonable cooperation to the other Party, at the other Party’s expense, in connection with any official or unofficial tax audit or contest relating to payments made by Biogen Idec to Elan under this Agreement. 

(c) Withholding Tax Matters. 
  

	 	(i)	 The Parties shall cooperate with one another and use reasonable commercial efforts, subject to applicable law, to minimize obligations for any and all
income or other taxes required by applicable law to be withheld or deducted from the Upfront Payment or any of the Contingent Payments made by or on behalf of Biogen Idec or any of its Affiliates hereunder. In the event the Upfront Payment or any of
the Contingent Payments are subject to withholding taxes under the laws of any jurisdiction, (A) Biogen Idec or its Affiliate, as applicable, shall deduct and withhold the amount of such taxes for the account of Elan to the extent required by
law, (B) Biogen Idec or its Affiliate, as applicable, shall pay the amount of such taxes to the proper governmental authority, and (C) Elan shall take all necessary steps to obtain a refund, credit or other relief from such taxes from the
relevant governmental authority. As soon as practicable after any payment of taxes by Biogen Idec or any of its Affiliates to a governmental authority pursuant to this Section 4.4(c)(i), Biogen Idec or its Affiliate, as applicable, will
transmit to Elan an official tax certificate or other evidence of such tax obligations, together with proof of payment from the relevant governmental authority of all amounts deducted and withheld sufficient to enable Elan to claim such payment of
taxes. In addition, as soon as practicable after receipt by Elan of any actual current benefit arising from a refund, credit or other relief from any taxes deducted or withheld from the Contingent Payments and with respect to which Elan or its
Affiliate or assignee 

  
 33 

	 	
received an increased payment from Biogen Idec or its Affiliate pursuant to Section 4.4(c)(ii), (x) Elan will transmit to Biogen Idec an official certificate or other evidence of such
refund, credit or other relief (to the extent such evidence exists, it being understood that under no circumstances shall this Section 4.4 require Elan to deliver any tax return or other information that it determines to be confidential, except
as provided in the immediately following clause (y)), (y) Elan’s independent certified public accountant will audit and deliver to Biogen Idec a report confirming the calculation of such refund, credit or other relief (in connection with
which, Elan shall permit Biogen Idec to examine such portion of its tax return as directly relates to the determination of such refund, credit or other relief) and (z) Elan shall pay to Biogen Idec such refund, credit or other relief. If Biogen
Idec is subject to an obligation to pay over any amount to a taxing authority in respect of its obligation to withhold or deduct on amounts payable to Elan, whether as a result of a misrepresentation by Elan in Section 7.2(dd) or otherwise, to
the extent Biogen Idec is not required to gross up pursuant to Section 4.4(c)(ii), Elan shall pay to Biogen Idec such an amount, and, to the extent Elan has not yet made such payment to Biogen Idec within ninety (90) days, Biogen Idec
shall be permitted to deduct such amount from any subsequent Contingent Payment(s). 

  

	 	(ii)	 Subject to Section 4.4(c)(iii), any Contingent Payment payable by Biogen Idec or its Affiliate shall be increased as necessary so that, after any
deduction or withholding of taxes relating to an obligation to withhold or deduct under the laws of the U.S. or Bermuda (or such other jurisdiction in which Biogen Idec, or its successor or permitted assignee that assumes the obligations under this
Agreement, is (i) organized, (ii) has its place of central management and control or (iii) establishes (A) a branch, (B) other permanent establishment or (C) a trade or business (such as through regular employee
presence in the jurisdiction, but in no event as the result of using the Transferred Intellectual Property, whether in the jurisdiction or otherwise, without Biogen Idec or its successor or assignee also having a regular presence in the
jurisdiction)) has been made (including any deductions and withholdings applicable to additional sums payable under this paragraph), Elan receives an amount equal to the amount it would have received had no such deduction or withholding been made;
provided, however, that in no event shall any tax payments or gross up for tax payments be payable by Biogen Idec or its Affiliate pursuant to this Section 4.4(c)(ii) resulting from a failure of Elan to provide any tax forms,
reports or other documentation pursuant to Section 4.4(b); and provided, further, that in no event shall any tax payments or gross up for tax payments be payable

  
 34 

	 	
by Biogen Idec or its Affiliate pursuant to this Section 4.4(c)(ii) with respect to taxes due or arising, or withheld by Biogen Idec or its Affiliate under sections 1471, 1472, 1473 or 1474
of the Internal Revenue Code of 1986 as amended (the “Code”) (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), the United States Treasury Regulations promulgated
thereunder and published guidance with respect thereto; and provided, further, that in no event shall any tax payments or gross up for tax payments be payable by Biogen Idec or its Affiliate pursuant to this Section 4.4(c)(ii)
with respect to taxes due or arising, or withheld by Biogen Idec or its Affiliate by reason of any connection between Elan or any Affiliate thereof and the taxing jurisdiction other than entering into this Agreement and receiving payments hereunder.

  

	 	(iii)	  

  

	 	(A)	 If Elan (A) assigns this Agreement to an Affiliate or Third Party in accordance with Section 14.2(a), (B) assigns its rights to receive
Contingent Payments to a Third Party in accordance with Section 14.2(b), or ceases to be the beneficial owner of such payment rights, (C) becomes ineligible for zero withholding under the US/Irish income tax treaty, (D) undergoes any
change in corporate status, structure, ownership, domicile, existence, or similar change, whether by reason of merger, reorganization, acquisition, sale, dissolution, liquidation, change of tax status or tax classification for U.S. or non-U.S. tax
purposes, or otherwise, that alters Biogen Idec or its Affiliate’s obligation to withhold pursuant to Section 4.4(c)(i), or (E) breaches the covenant in Section 4.4(f), then Elan shall so notify Biogen Idec within five
(5) Business Days after such assignment or loss of eligibility and shall deliver to Biogen Idec an updated Form W-8BEN at least five (5) Business Days prior to the next Contingent Payment due date and, in any event, no later than thirty
(30) days after such assignment or loss of eligibility, as applicable. To the extent any taxes are required to be withheld or deducted from any Contingent Payments, in the event of the occurrence of any of the circumstances described in (A),
(B), (C) (other than a loss of eligibility due to a change in the US/Irish income tax treaty), (D) or (E), or in the event that either (a) Biogen Idec or its Affiliate’s obligation to withhold pursuant to Section 4.4(c)(i)
is affected by a change in applicable law (including any administrative guidance or ruling or official 

  
 35 

	 	
announcements) that results in an increase in the amount of tax that must be withheld or (b) any Contingent Payment is properly characterized, in whole or in part, as arising from a business
carried on, or that was carried on, in the U.S. through a permanent establishment situated in the U.S. to which the Contingent Payments are attributable, or as arising from the performance of personal services from a fixed base in the U.S. to which
the Contingent Payments are attributable, under the US/Irish income tax treaty, then (w) such Contingent Payment (or a future Contingent Payment, if such taxes are required to be withheld or deducted after such Contingent Payment is made) shall
be reduced by the amount of such taxes withheld or deducted in accordance with Section 4.4(c)(i), (x) such taxes shall be an expense of, and borne solely by, Elan, the assignee of such Contingent Payment or the successor of Elan, as
applicable, (y) Biogen Idec, nor any Biogen Idec Affiliate, shall not be responsible for any gross-up of such Contingent Payment for any such taxes withheld, deducted or otherwise assessed and (z) Biogen Idec shall be permitted to deduct
from any subsequent Contingent Payment(s), any other taxes, interest and penalties that are properly chargeable to the extent previously paid by Biogen Idec or a designated Affiliate. 

 

	 	(B)	 Notwithstanding Section 4.4(c)(iii)(A) above, to the extent that the assignee, in the event of (A) or (B), or Elan (or its successor,
acquirer, owner, or other such person, as the case may be), in the event of (C) or (D), is treated as an “eligible person,” such “eligible person” shall be entitled, to the extent it is subject to withholding or deduction at
a rate that equals or exceeds the rate at which Elan was previously subject to tax at the time of the occurrence of such event (or the earliest such event, in the case of multiple events), to an amount equal to, but no more than, the payment Elan
would have received at such time, provided that if Elan ceases to be entitled to US/Irish income tax treaty benefits solely because it is no longer a “qualified resident” under the US/Irish income tax treaty, then upon the next
occurrence of an event described in the first sentence of this Section 4.4(c)(iii)(A), an “eligible person” shall be entitled to an amount equal to, but no more than, the payment Elan would have been entitled to immediately prior to
such next occurring event if Elan had remained a “qualified resident.” In the event of the occurrence of any such event described in the first sentence of this Section 4.4(c)(iii)(B), Biogen Idec or its Affiliate

  
 36 

	 	
shall make all determinations regarding whether a withholding obligation reasonably applies. For purposes of this Section 4.4(c)(iii)(B), “eligible person” shall mean a person who
is subject to all the same obligations and duties under this Agreement, and who makes the same representations, as applicable, that Elan is subject to or makes pursuant to or in connection with this Section 4.4, except that such person may
provide an IRS Form W-8BEN claiming an exemption or reduction of withholding under a treaty between the U.S. and the jurisdiction in which such person is a qualified resident. 

 

	 	(C)	For the avoidance of doubt, if Biogen Idec or any U.S. Affiliate of Biogen Idec (A) assigns this Agreement to a non-U.S. Affiliate or Third Party in accordance
with Section 14.1 (other than the initial contemplated assignment to a U.S. Affiliate of Biogen following the Closing) or (B) undergoes any change in corporate status, structure, ownership, domicile, existence, or similar change, whether
by reason of merger, reorganization, acquisition, sale, dissolution, liquidation, change of tax status or tax classification for U.S. or non-U.S. tax purposes, or otherwise, and, as a result, Biogen Idec, its Affiliate or the Third Party is
obligated to withhold or deduct at a rate that exceeds the rate at which Biogen Idec or the U.S. Affiliate of Biogen Idec was previously obligated to withhold or deduct at the time of the occurrence of such event (or the earliest such event, in the
case of multiple events), subject to the applicable limitations and exclusions in Sections 4.4(c)(ii), 4.4(c)(iii)(A) and Section 4.4(c)(iii)(B), such increased amount of withholding or deduction shall be included in the gross up in
Section 4.4(c)(ii). Notwithstanding the foregoing sentence and Section 4.4(c)(iii)(B), if following an event described in Section 4.4(c)(iii)(C)(A) or (B) in the immediately preceding sentence, Biogen Idec, a non-U.S. Affiliate
of Biogen Idec or a Third Party is obligated to withhold or deduct at a rate that exceeds the rate at which Biogen Idec or its U.S. Affiliate was previously obligated to withhold or deduct at the time of the occurrence of the event described in the
first sentence above (or the earliest such event, in the case of multiple events), and such increased withholding or deduction is the result of a change in law (including a change in a treaty) that occurs after the event described in (A) or
(B), then such increased withholding or deduction shall be included in the gross up in Section 4.4(c)(ii). 

  
 37 

 (d) Stamp Taxes. Any stamp taxes (save for Irish stamp duty, which
shall be governed by the provision of Section 4.4(e) below), sales and use taxes, property taxes, or similar taxes, excises or duties imposed in connection with this Agreement, the Transactions or the recording of any sale, transfer or
assignment of property (or any interest therein) effected pursuant to this Agreement shall be paid by Biogen Idec. 
 (e) Irish Stamp Duty. 
  

	 	(i)	The Parties acknowledge and agree that no Irish stamp duty is expected to arise with respect to this Agreement or any ancillary documentation executed in connection
with the sale and purchase of the Transferred Assets (an “Instrument”). Such expectation is based on the agreed assumptions - (x) any Instrument does not fall within the charging provisions set out in the Stamp Duties
Consolidation Act 1999 (the “SDCA”); (y) title to the Transferred Inventory passes by delivery in accordance with the provisions of this Agreement and without any further instrument of conveyance or assignment; or (z) to
the extent an Instrument is within the charging provisions, no Irish stamp duty will arise as a result of the fact that the relevant Transferred Assets fall within the definition of “intellectual property” as that term is defined in
section 101 of the SDCA (the “Agreed Stamp Duty Assumptions” and individually an “Agreed Stamp Duty Assumption”). 

  

	 	(ii)	If notwithstanding the expectation of the Parties and the Agreed Stamp Duty Assumptions set out above, it is determined that a charge to Irish stamp duty (including any
interest, surcharge or penalty) arises in connection with the sale and purchase of the Transferred Assets (an “Irish Stamp Duty Liability”), the Parties agree that responsibility for such liability shall be allocated on the
following basis - (A) if an action is taken by a Party which causes an Agreed Stamp Duty Assumption to be incorrect, that Party shall be responsible for any resulting Irish Stamp Duty Liability; and (B) to the extent an Irish Stamp Duty
Liability arises in any other circumstance, Elan and Biogen Idec agree to share such liability on a 50 / 50 basis. 

  

	 	(iii)	The Parties note and agree that Biogen Idec will be the accountable person under Irish stamp duty law to the extent an Irish Stamp Duty Liability arises. To the extent
that it is asserted that the sale and purchase of any of the Transferred Assets gives rise to an Irish Stamp Duty Liability (a “Claim”), each Party agrees to notify the other upon becoming aware of a Claim. 

 

	 	(iv)	The conduct of any Claim shall be governed by the following provisions: 

  
 38 

	 	(A)	Biogen Idec shall have the right to control the conduct of any Claim. Biogen Idec shall keep Elan well informed on a reasonably current basis of the progress of any
such Claim and shall permit Elan to participate (at its own expense) in the preparation of any correspondence to be submitted to the Irish Revenue Commissioners relating to the Claim. 

 

	 	(B)	Biogen Idec shall take into account any reasonable comments of Elan made with respect to a Claim. 

 

	 	(C)	Biogen Idec shall not settle or compromise any assessment made with respect to a Claim without the prior written consent of Elan (such consent not to be unreasonably
withheld). 

  

	 	(D)	The Parties shall act in good faith in the conduct of any Claim with a view to minimizing the amount of any assessment. 

 

	 	(E)	Any payment to be made by Elan as a result of the application of this Section 4.4(e) shall be made on the later of (A) three (3) days before the date on
which such liability to Irish stamp duty becomes due or would have to be paid in order to avoid a liability to interest or surcharge or other penalty arising in respect of such liability or (B) thirty (30) days following the date that
Biogen Idec notifies Elan that it has a relevant liability. To the extent that Elan does not make a payment within the time periods set out in this Section 4.4(e)(iv)(E), Biogen Idec shall be permitted to deduct fifty percent (50%) of the
Irish Stamp Duty Liability against any subsequent Contingent Payment(s). 

  

	 	(F)	To the extent that Elan becomes liable to make a payment pursuant to this Section 4.4(e) prior to an appeal being taken in connection with a relevant stamp duty
assessment and it is subsequently determined that all (or a part of) that amount was not chargeable, Biogen Idec shall take all reasonable steps to recover that amount and shall, as soon as reasonably practicable, return any overpaid amount
(together with any related interest received from the Revenue Commissioners) to Elan. 

 (f)
Installment Sale Reporting. The Parties agree to treat the Contingent Payments as part of an installment sale for U.S. federal income tax purposes, and Elan will not elect out of such treatment under Section 453(d) of the Code or
otherwise take an inconsistent position in connection with any U.S. tax filing or in any proceeding with a U.S. taxing authority. 

  
 39 

 (g) Exclusive Remedy. This Section 4.4 shall provide the sole
and exclusive rights under which Elan may be entitled to payments from Biogen Idec or its Affiliate in respect of any taxes. Notwithstanding any other provision of this Agreement, including, but not limited to, Section 3.3 or Section 12.1,
no amounts shall be payable by Biogen Idec or its Affiliate in respect of any taxes, other than pursuant to this Section 4.4. 
 4.5. Reports; Audit Rights. 
 (a) After the Closing Date,
during the Term, Biogen Idec shall furnish to Elan 
  

	 	(i)	within six (6) Business Days following the end of each Calendar Quarter, a draft report showing (x) any Net Sales accrued in respect of such Calendar Quarter
(or if none shall have accrued, a report so stating), (y) the amount of Contingent Payments accrued hereunder in respect of such sales during such Calendar Quarter and (z) the Net Sales of TYSABRI and number of units of TYSABRI sold in
each of the top ten (10) countries in the Territory (ranked based on total amount of annual Net Sales in such countries) and the aggregate Net Sales of TYSABRI and aggregate number of units of TYSABRI sold in all other countries in the
Territory where TYSABRI is sold during such Calendar Quarter, so long as Elan has not publicly disclosed any country-level information (other than with respect to the United States) reported by Biogen Idec in accordance with this
Section 4.5(a)(i)(z) for any previous Calendar Quarter. Notwithstanding the foregoing, Elan and any assignee of Elan pursuant to Section 14.2(b) shall be permitted to publicly disclose (1) country-level information with respect to
TYSABRI in the United States and (2) aggregate information with respect to TYSABRI in the rest of the world, in each case as permitted under Section 9.5(a), and any such disclosure shall not affect Elan’s rights to receive the
information specified in Section 4.5(a)(i)(z); 

  

	 	(ii)	 within twelve (12) Business Days following the end of such Calendar Quarter, a final report showing (x) any Net Sales accrued in respect of
such Calendar Quarter (or if none shall have accrued, a report so stating), provided that if any adjustments are made to Net Sales in such Calendar Quarter after delivery of the final report, such adjustments shall be reflected and
incorporated into the report for the following Calendar Quarter, (y) the amount of Contingent Payments accrued hereunder in respect of such sales and (z) the Net Sales of TYSABRI and number of units of TYSABRI sold in each of the top ten
(10) countries in the Territory (ranked based on total amount of annual Net Sales in such countries) and the aggregate Net Sales of TYSABRI and aggregate number of units of TYSABRI sold in all other countries in the Territory where TYSABRI is
sold during such 

  
 40 

	 	
Calendar Quarter, so long as Elan has not publicly disclosed any country-level information (other than with respect to the United States) reported by Biogen Idec in accordance with this
Section 4.5(a)(ii)(z) for any previous Calendar Quarter. Notwithstanding the foregoing, Elan and any assignee of Elan pursuant to Section 14.2(b) shall be permitted to publicly disclose (1) country-level information with respect to
TYSABRI in the United States and (2) aggregate information with respect to TYSABRI in the rest of the world, in each case as permitted under Section 9.5(a), and any such disclosure shall not affect Elan’s rights to receive the
information specified in Section 4.5(a)(ii)(z); 

  

	 	(iii)	within twelve (12) Business Days following the end of such Calendar Quarter, a Net Sales forecast report detailing Biogen Idec’s forecast for Net Sales for
that full calendar year and for each of the remaining Calendar Quarters in that calendar year; 

  

	 	(iv)	a preliminary Net Sales budget by November 15 of each year for the following calendar year; 

 

	 	(v)	a final Net Sales budget by December 15 of each year (or, if later, immediately after approval of such budget by the Board of Directors of Biogen Idec) for the
following calendar year; and 

  

	 	(vi)	the exchange rates used in converting all Contingent Payments accrued in such Calendar Quarter to U.S. dollars from the currency in which the sales of TYSABRI where
made in accordance with Section 4.3(d). 

 (b) Biogen Idec shall maintain complete and
accurate books and records in sufficient detail to enable Elan and its Affiliates to (i) calculate and verify Net Sales in each country in the Territory and (ii) calculate and verify the Contingent Payments. Such records shall be
maintained for a period of at least six (6) years from the date of creation of individual records. 
  

	 	(i)	 Upon the request of Elan, not more often than once each year during the Term and once during the two (2) year period after the end of the Term,
Biogen Idec shall make available during reasonable business hours (including to make copies as Elan may reasonably request) to an independent certified public accountant selected by Elan and reasonably acceptable to Biogen Idec those books and
records and personnel of Biogen Idec and its Affiliates as may be reasonably necessary for such independent certified public accountant to conduct an audit to (x) calculate and verify Net Sales and (y) calculate and verify the Contingent
Payments; provided, however, that such audits may not be conducted later than two (2) years following the end of the calendar year in 

  
 41 

	 	
which the corresponding Net Sales and Contingent Payment reports were delivered pursuant to Section 4.5(a); provided, further, that if during any such audit an underpayment of
five percent (5%) or more of the Contingent Payments due for a calendar year is identified, audits will be permitted for any period during the four (4) year period preceding the calendar year for which such underpayment was identified, but
only to the extent necessary to confirm whether the same error that resulted in the underpayment was made in such other period. Such audits will be conducted at the expense of Elan, provided that if an underpayment of five percent
(5%) or more of the Contingent Payments due with respect to an audited calendar year is identified, the expense of such audit shall be paid by Biogen Idec. Any such examinations of Biogen Idec’s records shall be made at reasonable times
during regular business hours and upon at least twenty (20) Business Days’ prior notice and shall be performed by such independent certified public accountant expeditiously and in a manner designed to minimize disruption to Biogen
Idec’s operations. For the sake of clarity, and to confirm that Biogen Idec shall not be required to respond to more than one audit request during any of the periods described in this Section 4.5(b)(i), in the event that Elan assigns its
right to receive Contingent Payments under this Agreement to a Third Party pursuant to Section 14.2(b), Elan shall retain its rights under Section 4.5(b) and such Third Party shall not be permitted to conduct any audits pursuant to
Section 4.5(b); provided, however, that if Elan assigns all of its rights to receive Contingent Payments under this Agreement to such Third Party, Elan shall also assign its rights under Section 4.5(b) to such Third Party and
only such Third Party (and not Elan) shall be permitted to conduct audits under Section 4.5(b).  

  

	 	(ii)	 The final results of any audit performed by an independent certified public accountant pursuant to Section 4.5(b)(i) shall be provided to both
Parties. In addition, each Party shall be provided with a draft of the audit results prior to finalization for the purpose of confirming the accuracy of the information included in such audit results, and the independent certified public accountant
shall incorporate any corrections submitted by the Parties into the final audit results. All draft and final audit results shall be treated as the Post-Closing Confidential Information of both Parties for purposes of Section 9 of this
Agreement. If the results of an audit shows an underpayment of any Contingent Payment due to Elan under Section 4.2, Biogen Idec shall remit the amount of such underpayment to Elan within sixty (60) days after the end of the
Calendar Quarter in which the audit was completed. If the results of an audit shows an 

  
 42 

	 	
overpayment of any Contingent Payment due to Elan under Section 4.2, Elan shall remit the amount of such overpayment to Biogen Idec within thirty (30) days after receipt of the results
of the audit; provided, however, that, if Elan does not remit such overpayment within such thirty (30) day period, Biogen Idec shall be permitted to deduct the amount of the overpayment from any subsequent Contingent Payment(s).

  

	 	(iii)	In the event that either Party disagrees with the results of any audit, such Party shall deliver to the other Party a written notice of the matters in dispute. If the
Parties cannot mutually resolve the disputed matters within thirty (30) days after delivery of such notice, the Parties shall mutually select a nationally-recognized independent certified public accountant to review and resolve such matters.
Such independent certified public accountant shall be permitted to review, in accordance with Section 4.5(b)(i), the work papers of Elan’s independent certified public accountant who conducted the original audit pursuant to
Section 4.5(b)(i) related to the matters in dispute, but not to conduct an independent audit; each Party will submit position papers and supporting documents for its position related to such matters. Such independent certified public accountant
shall make a final determination on such matters, which determination shall be binding on the Parties. 

  

	 	(iv)	Any independent certified public accountant that performs an audit or review pursuant to this Section 4.5(b) shall enter into a confidentiality agreement with
Biogen Idec on terms substantially similar to those set forth in Section 9 of this Agreement. Any books, records and other accounting information received from Biogen Idec by an independent certified public accountant during an audit or review
performed pursuant to Section 4.5(b) shall be Post-Closing Confidential Information of Biogen Idec for purposes of Section 9 of this Agreement. 

(c) Upon the reasonable request of Elan (no more frequently than once per Calendar Quarter), a meeting shall be held via
teleconference between the Chief Financial Officer of Elan (or his designee) and the Chief Financial Officer of Biogen Idec (or his designee, who shall have sufficient knowledge and experience regarding the subject matter of the meeting). The sole
purpose of the meeting will be for the representative(s) of Biogen Idec to explain the calculations set forth in the reports, budgets and other information provided by Biogen Idec to Elan pursuant to Section 4.5(a) and to provide a financial
and analytical review of the Net Sales referenced in the Net Sales reports for such Calendar Quarter, including an explanation of any significant increases or decreases in Net Sales. For the sake of clarity, there shall be no discussion of the
operational aspects of the TYSABRI Business during the meeting and nothing in 

  
 43 

 
this Section 4.5(c) shall in any way limit or affect Biogen Idec’s right to operate all aspects of the TYSABRI Business in its sole discretion. 

4.6. Financial Reconciliation. 
 (a) The Parties acknowledge and agree that Elan and BIMA shall continue to report, reconcile and make quarterly cash settlement payments for amounts due to each other pursuant to Exhibit B and other
provisions of the Collaboration Agreement and the Related Documents (as defined in the Termination Agreement) (including all amounts due for development and other costs incurred with respect to the JCV Assay) with respect to the period ending
December 31, 2012 and with respect to the period beginning on January 1, 2013 and ending on the last day of the month in which Closing occurs (such period beginning January 1, 2013, the “Stub Period”). Such reports,
reconciliations and cash settlements will be made using the same procedures and methodologies used by Elan and BIMA for the most recent quarter close in 2012 prior to the Execution Date. (In the event the Closing does not occur on the last day of a
month, Biogen Idec will have the same rights and obligations that BIMA would have had under the Collaboration Agreement and the Related Documents between the Closing Date and the end of such month for purposes of this Section 4.6(a).)

 (b) Within sixty (60) days after the end of the Stub Period, Biogen Idec will prepare a reconciliation
statement that sets forth the following amounts: (i) the aggregate amount paid or payable by BIMA to Elan for the Stub Period as described in Section 4.6(a); and (ii) an amount equal to the product of (A) the total number of
units of inventory included in the Transferred Inventory and (B) the per unit price paid or payable by Elan to acquire such units from Biogen Idec and its Affiliates prior to the Closing Date (the “Closing Date Inventory
Value”). 
 (c) The amount set forth under Section 4.6(b)(i) shall be payable by Biogen Idec within
ninety (90) days after the end of the Stub Period and the amount set forth under Section 4.6(b)(ii) shall be payable to the extent and on the terms set forth in Section 4.8. 

(d) If, after the preparation of the reconciliation statement pursuant to Section 4.6(b), either Party receives from
a Third Party an invoice or claim for any costs or expenses included in gross-to-net sales accounting or that would qualify as a deduction from Net Sales under this Agreement (i.e., those set forth in clauses (i) through (ix) of
Section 1.1(gg)) with respect to sales of TYSABRI prior to the end of the Stub Period, the Party who made the sales to which such costs or expenses relate shall bear one hundred percent (100%) of such costs and expenses. In the event that
Biogen Idec receives an invoice or claim for a Third Party with respect to costs or expenses related to sales made by Elan prior to the end of the Stub Period, Biogen Idec shall be permitted to deduct such costs or expenses from any subsequent
Contingent Payment(s), but only if Elan has failed to pay Biogen Idec such costs and expenses within thirty (30) days after Elan’s receipt of a request for and reasonable documentation of such costs and expenses from Biogen Idec.

  
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 4.7. Allocation of Upfront Payment; Tax Matters. The Parties agree that the Upfront
Payment and Assumed Liabilities shall be allocated as follows: (a) a portion equal to the fair market value of the Transferred Inventory on the Closing Date shall be allocated to the Transferred Inventory; and (b) the remainder shall be
allocated to the Elan Patents, of which four hundred million dollars ($400,000,000) shall be allocated to Elan Inc. in final settlement of the Intercompany Agreement between Elan Inc. and Elan Pharma International Limited, dated 22 November
2004, under which Elan Inc. was compensated for its funding of early stage research for TYSABRI (the “Allocation”). Elan and Biogen Idec agree to (i) be bound by the Allocation; (ii) act in accordance with the Allocation
in the preparation and filing of all tax returns (including filing Form 8594 with its federal income tax return for the taxable year that includes the Closing Date); and (iii) take no position inconsistent with the Allocation for all tax
purposes. In the event that any tax authority disputes the Allocation, Biogen Idec or Elan, as the case may be, shall promptly notify the other Party of the nature of such dispute. 

4.8. Closing Date Inventory Value Adjustment. Elan will deliver to Biogen Idec a written statement of the Estimated Closing Date
Inventory Value at least two (2) Business Days prior to the Closing Date. In accordance with Section 4.6(b), within sixty (60) days after the Closing, Biogen Idec shall prepare and deliver to Elan a written statement of the Closing
Date Inventory Value and the amount of any Closing Date Inventory Value Adjustment (the “Closing Date Inventory Value Statement”). Within ten (10) days after the delivery of the Closing Date Inventory Value Statement, Biogen
Idec shall pay the Closing Date Inventory Value Adjustment to Elan, if the Closing Date Inventory Value Adjustment is positive. If the Closing Date Inventory Value Adjustment is negative, then Biogen Idec shall be permitted to deduct the Closing
Date Inventory Value Adjustment from any subsequent Contingent Payment(s), but only if Elan has failed to pay Biogen Idec such costs and expenses within thirty (30) days after Elan’s receipt of a request for and reasonable documentation of
such costs and expenses from Biogen Idec. 
 4.9. TYSABRI Transactions. 

(a) Certain Definitions. For purposes of this Agreement: 

 

	 	(i)	“Applicable Percentage” shall mean, with respect to any TYSABRI Transaction: 

 

	 	(A)	if the aggregate Net Sales for the calendar year ending immediately prior to the consummation of such TYSABRI Transaction was less than or equal to two billion dollars
($2,000,000,000), eighteen percent (18%); or 

  

	 	(B)	 if the aggregate Net Sales for the calendar year ending immediately prior to the consummation of such TYSABRI Transaction was more than two billion
dollars ($2,000,000,000), the amount (expressed as a percentage) obtained by dividing (x) the sum of three hundred and sixty million ($360,000,000) and twenty-five percent (25%) of the amount by which the aggregate Net Sales for the

  
 45 

	 	
calendar year ending immediately prior to the consummation of such TYSABRI Transaction exceeds two billion dollars ($2,000,000,000) by (y) the aggregate Net Sales for the calendar
year ending immediately prior to such TYSABRI Transaction. 

 By way of example only, if the aggregate Net Sales
for the calendar year ending immediately prior to a TYSABRI Transaction is two billion five hundred million dollars ($2,500,000,000), the Applicable Percentage with respect to such TYSABRI Transaction would be calculated as follows: ($360,000,000 +
0.25*($2,500,000,000 – $2,000,000,000)) / $2,500,000,000, which equals $485,000,000 / $2,500,000,000, or 19.4%. 
 For the
sake of clarity, the Applicable Percentage shall only be calculated once with respect to each TYSABRI Transaction. 
  

	 	(ii)	“Distributor” shall mean any Third Party that (A) purchases TYSABRI from Biogen Idec or any of its Affiliates directly or indirectly with the
intent or purpose of reselling TYSABRI, (B) has the right to directly or indirectly resell TYSABRI in one or more countries in the Territory, and (C) does not make any payment to Biogen Idec or any of its Affiliates with respect to sales
of TYSABRI other than amounts included in the calculation of Net Sales. 

  

	 	(iii)	“Major Market Countries” shall mean, with respect to a TYSABRI Transaction, the eleven (11) countries in the Retained Territory where the Net
Sales were highest during the four (4) full consecutive Calendar Quarters ending immediately prior to the consummation of such TYSABRI Transaction; provided, however, that the total number of Major Market Countries shall be
decreased by one (1) after the completion of each TYSABRI Transaction in a Major Market Country. For the sake of clarity, after there have been TYSABRI Transactions with respect to eleven (11) Major Market Countries, there will be no Major
Market Countries. 

  

	 	(iv)	“Minor Market Countries” shall mean, with respect to a TYSABRI Transaction, all countries in the Retained Territory that are not Major Market Countries
immediately prior to the consummation of such TYSABRI Transaction. 

  

	 	(v)	 “Non-Royalty Consideration” shall mean any consideration that is not Royalty Consideration, including upfront fees, milestone payments
and other non-royalty payments, (A) received by 

  
 46 

	 	
Biogen Idec or any of its Affiliates from a Third Party in connection with a TYSABRI Transaction or (B) paid by Biogen Idec or any of its Affiliates to a Distributor in connection with a
transaction described in Section 4.10(b), in each case (of (A) and (B)) to the extent received or paid as consideration for rights to sell TYSABRI or for sales of TYSABRI. Any Non-Royalty Consideration that is not cash shall be converted
to a cash amount equal to the fair market value of such Non-Royalty Consideration, which shall be determined by Biogen Idec reasonably and in good faith as of the date that such Non-Royalty Consideration is received by or paid by, as the case may
be, Biogen Idec or any of its Affiliates. For the sake of clarity, Non-Royalty Consideration shall not include gross amounts invoiced for sales of TYSABRI by Biogen Idec or its Affiliates to Third Parties. 

 

	 	(vi)	“Retained Territory” means, with respect to a given point in time, all countries of the Territory in which Biogen Idec or any of its Affiliates has any
TYSABRI Rights. 

  

	 	(vii)	“Royalty Consideration” shall mean royalties based on sales of TYSABRI and other contingent payments based on sales of TYSABRI received by Biogen Idec
or any of its Affiliates from a Third Party in connection with a TYSABRI Transaction or Standard Distribution Transaction (which, for clarity, does not include amounts described in clause (1) of the first sentence of Section 1.1(gg)).

  

	 	(viii)	“Threshold Reduction Amount” shall mean, with respect to a TYSABRI Transaction in a Major Market Country, the amount(s) obtained by multiplying
(A) the Threshold in effect under Section 4.2(d)(i), if applicable, and Section 4.2(d)(ii) immediately prior to the consummation of such TYSABRI Transaction, by (B) the Threshold Reduction Fraction applicable to such TYSABRI
Transaction; provided, however, that if such TYSABRI Transaction is non-exclusive in such Major Market Country (that is, Biogen Idec or any of its Affiliates will continue to have a right to sell TYSABRI in such Major Market Country
that is presently exercisable, and not contingent upon the occurrence of some event or the passage of time, from and after the consummation of such TYSABRI Transaction), then Biogen Idec shall determine, in good faith and on a reasonable basis
(including the terms and conditions of the TYSABRI Transaction), the Threshold Reduction Amount in lieu of applying the formula above. 

  
 47 

	 	(ix)	“Threshold Reduction Fraction” shall mean, with respect to a TYSABRI Transaction in a Major Market Country, a fraction, the numerator of which is the
aggregate Net Sales in such Major Market Country during the period of four (4) full consecutive Calendar Quarters ending immediately prior to the date of such TYSABRI Transaction, and the denominator of which is the aggregate Net Sales by
Biogen Idec and its Affiliates in the Retained Territory (as the Retained Territory is determined immediately prior to such TYSABRI Transaction) during such period. 

 

	 	(x)	“TYSABRI Transaction” shall mean a transaction pursuant to or as a result of which Biogen Idec or any of its Affiliates assigns (including by operation
of law), sells, transfers, grants or otherwise disposes of the right to sell TYSABRI (“TYSABRI Rights”) in any country or countries in the Territory to a Third Party (a “Third Party Transferee”); provided,
however, that a TYSABRI Transaction shall not include: 

  

	 	(A)	any Standard Distribution Transaction (as defined in Section 4.10(a)); or 

 

	 	(B)	any transaction described in Section 14.1(c). 

 (b) Transaction with an Affiliate. If Biogen Idec or any of its Affiliates assigns (including by operation of law), sells, transfers, grants or otherwise disposes of the exclusive or non-exclusive
right to sell TYSABRI in any country or countries in the Territory to an Affiliate of Biogen Idec that, at such time, is not a bound by this Agreement (an “Affiliate Transferee”), Biogen Idec shall, at or prior to the consummation
of such transaction and as a condition thereto, cause such Affiliate Transferee to execute and deliver to Elan an agreement pursuant to which such Affiliate Transferee shall agree that, effective upon the consummation of such transaction, such
Affiliate Transferee shall be bound by this Agreement to the same extent as Biogen Idec and the transferor Affiliate(s) with respect to sales of TYSABRI by such Affiliate Transferee. For clarity, (i) sales of TYSABRI by such Affiliate
Transferee in such country or countries shall be treated as “sales of TYSABRI in such country by Biogen Idec or any of its Affiliates” for purposes of calculating Net Sales pursuant to Section 1.1(gg) and (ii) this
Section 4.9(b) is not intended to limit or modify the provisions of Section 4.4. 
 (c) TYSABRI
Transactions in Major Market Countries. If Biogen Idec or any of its Affiliates engages in a TYSABRI Transaction in a Major Market Country with a Third Party Transferee, then, prior to the consummation of such TYSABRI Transaction, Biogen Idec
shall elect, in its sole discretion, by giving notice to Elan, to either: (x) treat Net Sales by such Third Party Transferee in such Major Market Country as Net Sales of Biogen Idec or any of its Affiliates for all purposes of this Agreement in
accordance with Section 4.9(c)(i) or (y) cause such Third Party Transferee to assume the obligation to make Contingent Payments with respect to Net Sales by such Third Party Transferee in

  
 48 

 
such Major Market Country in accordance with Section 4.9(c)(ii). After consummation of a TYSABRI Transaction in a Major Market Country, Biogen Idec shall have the right, in its sole
discretion, to change its election pursuant to this Section 4.9(c) with respect to such TYSABRI Transaction, provided that Biogen Idec complies with the provisions of this Section 4.9(c) in making such change. 

 

	 	(i)	If Biogen Idec makes an election pursuant to clause (x) of Section 4.9(c) with respect to a TYSABRI Transaction with a Third Party Transferee in a Major
Market Country, then the provisions of this Section 4.9(c)(i) shall apply. 

  

	 	(A)	The agreement between Biogen Idec and such Third Party Transferee relating to such TYSABRI Transaction (the “Transfer Agreement”) (1) shall be
consistent with the terms and conditions of this Agreement, (2) shall not in any way diminish, reduce or eliminate any obligations under this Agreement of Biogen Idec or any Affiliate of Biogen Idec that is bound by this Agreement,
(3) shall require such Third Party Transferee to provide Biogen Idec with all information required to prepare the reports that Biogen Idec is required to furnish to Elan under Section 4.3(a) and Section 4.5(a), (4) shall require
such Third Party Transferee to comply with all applicable terms of this Agreement, including the obligation to maintain books and records consistent with the terms of Section 4.5(b), (5) shall permit Biogen Idec to audit such books and
records for the purpose of calculating and verifying Net Sales and Contingent Payments, either directly or through an independent auditor, to the same extent, and at the same frequency, that an independent certified public accountant selected by
Elan is permitted to audit the books and records of Biogen Idec and its Affiliates under Section 4.5(b) and (6) may include the assignment of certain rights under this Agreement, and delegation of certain obligations under this Agreement,
of Biogen Idec or any Affiliate of Biogen Idec that is bound by this Agreement to such Third Party Transferee, provided that Biogen Idec or such Affiliate shall remain liable for the performance of such obligations by such Third Party
Transferee. Biogen Idec shall provide Elan with a copy of the Transfer Agreement within thirty (30) days after the execution thereof. Such copy may be redacted to exclude confidential, non-TYSABRI-related information and financial information
(other than such financial information that is necessary for assessing the obligations to Elan under this Agreement). 

  
 49 

	 	(B)	Upon Elan’s request, Biogen Idec shall exercise its right under the Transfer Agreement to conduct an audit of the Third Party Transferee’s books and records
pertaining to the sale of TYSABRI for the purpose of calculating and verifying Net Sales and Contingent Payments at the next time that conducting such an audit is permissible under such Transfer Agreement, provided that Biogen Idec shall not
be required to exercise such right more than once per calendar year. Biogen Idec shall determine, in its sole discretion, whether such audit shall be conducted by Biogen Idec or an independent auditor; provided, however, that if such
audit pertains to sales of TYSABRI by such Third Party Transferee in the United States, the United Kingdom, France, Germany or Spain, Elan shall determine, in its sole discretion, whether such audit shall be conducted by Biogen Idec or an
independent auditor. Elan shall bear the costs of such audit, which shall include all out-of-pocket costs incurred by Biogen Idec in connection with such audit (including any amounts paid to an independent auditor) and, if Biogen Idec conducts such
audit, an amount equal to Biogen Idec’s reasonable, good faith estimate of the internal costs to Biogen Idec in performing such audit. Biogen Idec shall provide Elan with a copy of the report of the findings made in any such audit. If such
audit reveals that such Third Party Transferee has understated its Net Sales by five percent (5%) or more, Biogen Idec shall be responsible for the costs of the audit. 

 

	 	(C)	Biogen Idec shall remain responsible for its obligations hereunder (including its obligation to make all Contingent Payments due Elan by reason of any Net Sales of
TYSABRI by the Third Party Transferee), and shall ensure any Third Party Transferee complies with all relevant provisions of this Agreement. 

  

	 	(D)	In the event of any uncured breach by the Third Party Transferee under the Transfer Agreement that would constitute a breach of Biogen Idec’s obligations under
this Agreement, Biogen Idec will promptly inform Elan in writing and shall take such action which, in Biogen Idec’s reasonable business judgment, will address such default. Elan shall not have any legal or equitable right, remedy or claim
under, or in respect of, the Transfer Agreement or any covenants, conditions or provisions contained therein, as a third party beneficiary or otherwise. 

  
 50 

	 	(E)	Effective upon the consummation of the TYSABRI Transaction, Net Sales of TYSABRI by the Third Party Transferee and its Affiliates in the Major Market Country shall be
treated as Net Sales by Biogen Idec or any of its Affiliates for all purposes under this Agreement, and shall be calculated by applying the definition of Net Sales set forth in Section 1.1(gg) as if such definition applied to sales of TYSABRI
by such Third Party Transferee and its Affiliates. No portion of any amounts received by Biogen Idec or any of its Affiliates in connection with such TYSABRI Transaction or sales of TYSABRI to such Third Party Transferee and its Affiliates
(including Royalty Consideration and Non-Royalty Consideration received by Biogen Idec or its Affiliates from such Third Party Transferee or any of its Affiliates, and gross amounts invoiced by Biogen Idec or any of its Affiliates for sales of
TYSABRI to such Third Party Transferee or any of its Affiliates) shall be shared with Elan. 

  

	 	(ii)	If Biogen Idec makes an election pursuant to clause (y) of Section 4.9(c) with respect to a TYSABRI Transaction with a Third Party Transferee in a Major
Market Country, then the provisions of this Section 4.9(c)(ii) shall apply. 

  

	 	(A)	At or prior to the consummation of such TYSABRI Transaction, and as a condition thereto, Biogen Idec shall cause such Third Party Transferee to execute and deliver to
Elan an agreement in a form to be mutually agreed upon by the Parties prior to Closing. 

  

	 	(B)	 Effective upon the consummation of such TYSABRI Transaction, the Threshold applicable to Net Sales by such Third Party Transferee and its Affiliates in
such Major Market Country shall be equal to the Threshold Reduction Amount applicable to such TYSABRI Transaction, and the Threshold then applicable to Net Sales by Biogen Idec and its Affiliates in the Retained Territory (as it may be reduced from
time to time pursuant to Section 4.2(d)(i) or Section 4.2(d)(ii)) shall be reduced by the Threshold Reduction Amount applicable to such TYSABRI Transaction. For the sake of clarity, the Threshold Reduction Amount shall only be calculated
once, and the Threshold applicable to Net Sales by Biogen Idec and its Affiliates in the Retained Territory shall only be reduced once, with respect to each TYSABRI Transaction. If, at any time thereafter, such Third Party Transferee’s rights
to sell TYSABRI in such Major Market Country expire or are 

  
 51 

	 	
terminated, the Threshold applicable to Net Sales by Biogen Idec and its Affiliates in the Retained Territory shall be increased by the Threshold Reduction Amount that had previously applied to
Net Sales by such Third Party Transferee and its Affiliates in such Major Market Country. (By way of example only, if (x) the Threshold in effect immediately prior to the consummation of such TYSABRI Transaction (as previously reduced) were
$1,800,000,000, (y) the aggregate Net Sales in such Major Market Country during the period of four (4) full consecutive Calendar Quarters ending immediately prior to the date of such TYSABRI Transaction were $250,000,000, and (z) the
aggregate Net Sales by Biogen Idec and its Affiliates in the Retained Territory (as the Retained Territory is determined immediately prior to such TYSABRI Transaction) during such period were $2,500,000,000, then (1) the Threshold Reduction
Fraction would equal 1/10th (i.e., $250,000,000 /
$2,500,000,000), (2) the Threshold Reduction Amount would equal $180,000,000 (i.e., 1/10th of $1,800,000,000) and (3) the Threshold then applicable to Net Sales by Biogen Idec and its Affiliates in the Retained Territory would be reduced to $1,620,000,000 (i.e., $1,800,000,000 minus
$180,000,000)) 

  

	 	(C)	Effective upon the consummation of such TYSABRI Transaction and for so long as such Third Party Transferee or any of its Affiliates have a right to sell TYSABRI in such
Major Market Country, the terms of Section 4.2 shall apply to such Third Party Transferee and its Affiliates only with respect to sales of TYSABRI by such Third Party Transferee and its Affiliates in such Major Market Country, and the terms of
Section 4.2 of this Agreement shall apply to Biogen Idec and its Affiliates only with respect to sales of TYSABRI by Biogen Idec and its Affiliates in the Retained Territory. 

 

	 	(D)	No portion of any amounts received by Biogen Idec or any of its Affiliates in connection with such TYSABRI Transaction or sales of TYSABRI to such Third Party
Transferee and its Affiliates (including Royalty Consideration and Non-Royalty Consideration received by Biogen Idec or its Affiliates from such Third Party Transferee or any of its Affiliates, and gross amounts invoiced by Biogen Idec or any of its
Affiliates for sales of TYSABRI to such Third Party Transferee or any of its Affiliates) shall be shared with Elan. 

  
 52 

 (d) TYSABRI Transactions in Minor Market Countries. 

 

	 	(i)	Except as otherwise provided in Section 4.9(e), if Biogen Idec or any of its Affiliates engages in a TYSABRI Transaction in a Minor Market Country with a Third
Party Transferee: 

  

	 	(A)	the gross amount invoiced for sales of TYSABRI in such country by Biogen Idec or any of its Affiliates to such Third Party Transferee shall be included in clause
(1) of the first sentence of Section 1.1(gg) for purposes of calculating Net Sales pursuant to Section 1.1(gg); 

  

	 	(B)	all Royalty Consideration received by Biogen Idec or any of its Affiliates in connection with such TYSABRI Transaction shall be treated as “net royalty amounts
received by Biogen or any of its Affiliates with respect to sales of TYSABRI” in such Minor Market Country for purposes of calculating Net Sales pursuant to Section 1.1(gg); and 

 

	 	(C)	Biogen Idec shall pay, or cause to be paid, to Elan an amount equal to the Applicable Percentage of all Non-Royalty Consideration received by Biogen Idec or any of its
Affiliates (to the extent not included in the amounts described in subsection (i)(A) or (i)(B) above) in connection with such TYSABRI Transaction, which amount shall be paid by or at the direction of Biogen Idec within sixty (60) days after the
end of each Calendar Quarter in which any such Non-Royalty Consideration is received by Biogen Idec or any of its Affiliates. 

  

	 	(ii)	Biogen Idec shall give Elan written notice of any TYSABRI Transaction in a Minor Market Country with a Third Party Transferee within ten (10) Business Days after
consummation thereof, which notice shall include a reasonably detailed description of such TYSABRI Transaction, including a list of the Minor Market Countries subject to such TYSABRI Transaction and all Royalty Consideration and Non-Royalty
Consideration paid or payable to or on behalf of Biogen Idec and its Affiliates in connection therewith. 

  

	 	(iii)	 The amount and a reasonably detailed description of any Royalty Consideration and Non-Royalty Consideration received by Biogen Idec or any of its
Affiliates with respect to any TYSABRI Transaction in any Minor Market Country in any Calendar Quarter, including the fair market value of any Non-Royalty Consideration that is not cash, shall be set forth in the report

  
 53 

	 	
delivered to Elan in respect of such Calendar Quarter pursuant to Section 4.3(a). 

 (e) Alternative TYSABRI Transactions. If Biogen Idec or any of its Affiliates that is bound by this Agreement merges or consolidates with or into any Third Party and, as a result thereof and by
operation of law, a TYSABRI Transaction in a Minor Market Country is consummated with such Third Party (an “Alternative TYSABRI Transaction”), unless the TYSABRI Rights in such Minor Market Country that are the subject of such
Alternative TYSABRI Transaction are the sole assets of Biogen Idec or such Affiliate, as the case may be, immediately prior to such consummation, then the provisions of this Section 4.9(e), and not any other provision of this Section 4.9,
shall apply. If Biogen Idec or any of its Affiliates that is bound by this Agreement (the “merging Affiliate”) engages in an Alternative TYSABRI Transaction in a Minor Market Country with a Third Party, Biogen Idec or the merging
Affiliate shall elect, in its sole discretion, by giving notice to Elan, to either: (x) designate one of its surviving Affiliates that is bound by this Agreement (the “designated Affiliate”) to retain the obligation of Biogen
Idec or the merging Affiliate to make Contingent Payments with respect to Net Sales in such Minor Market Country and treat Net Sales by such Third Party in such Minor Market Country as Net Sales of Biogen Idec or any of its Affiliates for all
purposes of this Agreement in accordance with Section 4.9(e)(i) or (y) cause such Third Party to assume the obligation to make Contingent Payments with respect to Net Sales by such Third Party in such Minor Market Country in accordance
with Section 4.9(e)(ii). 
  

	 	(i)	If Biogen Idec or the merging Affiliate makes an election pursuant to clause (x) of Section 4.9(e) with respect to an Alternative TYSABRI Transaction with a
Third Party in a Minor Market Country, then the provisions of this Section 4.9(e)(i) shall apply. 

  

	 	(A)	 The agreement between Biogen Idec or the merging Affiliate and such Third Party relating to such Alternative TYSABRI Transaction (the
“Alternative Transfer Agreement”) (1) shall include the applicable designated Affiliate as a party, (2) shall be consistent with the terms and conditions of this Agreement, (3) shall not in any way diminish, reduce or
eliminate any obligations under this Agreement of Biogen Idec or any Affiliate of Biogen Idec that is bound by this Agreement, (4) shall require such Third Party to provide the designated Affiliate with all information required to prepare the
reports that Biogen Idec or the merging Affiliate is required to furnish to Elan under Section 4.3(a) and Section 4.5(a), (5) shall require such Third Party to comply with all applicable terms of this Agreement, including the
obligation to maintain books and records consistent with the terms of Section 4.5(b), (6) shall permit the designated Affiliate to audit such books and records for the purpose of calculating and verifying

  
 54 

	 	
Net Sales and Contingent Payments, either directly or through an independent auditor, to the same extent, and at the same frequency, that an independent certified public accountant selected by
Elan is permitted to audit the books and records of Biogen Idec and its Affiliates under Section 4.5(b) and (7) may include the assignment of certain rights under this Agreement, and delegation of certain obligations under this Agreement,
of Biogen Idec or the merging Affiliate to such Third Party, provided that the designated Affiliate shall remain liable for the performance of such obligations by such Third Party. The designated Affiliate shall provide Elan with a copy of
the Alternative Transfer Agreement within thirty (30) days after the execution thereof. Such copy may be redacted to exclude confidential, non-TYSABRI-related information and financial information (other than such financial information that is
necessary for assessing the obligations to Elan under this Agreement). 

  

	 	(B)	 Upon Elan’s request, the designated Affiliate shall exercise its right under the Alternative Transfer Agreement to conduct an audit of the Third
Party’s books and records pertaining to the sale of TYSABRI for the purpose of calculating and verifying Net Sales and Contingent Payments at the next time that conducting such an audit is permissible under such Alternative Transfer Agreement
(for clarity, such audit right will only be exercised upon the request of Elan), provided that the designated Affiliate shall not be required to exercise such right more than once per calendar year. The designated Affiliate shall determine,
in its sole discretion, whether such audit shall be conducted by the designated Affiliate or an independent auditor; provided, however, that if such audit pertains to sales of TYSABRI by such Third Party in the United States, the
United Kingdom, France, Germany or Spain, Elan shall determine, in its sole discretion, whether such audit shall be conducted by the designated Affiliate or an independent auditor. Elan shall bear the costs of such audit, which shall include all
out-of-pocket costs incurred by the designated Affiliate in connection with such audit (including any amounts paid to an independent auditor) and, if the designated Affiliate conducts such audit, an amount equal to the designated Affiliate’s
reasonable, good faith estimate of the internal costs to the designated Affiliate in performing such audit. The designated Affiliate shall provide Elan with a copy of the report of the findings made in any such audit. If such audit reveals that

  
 55 

	 	
such Third Party has understated its Net Sales by five percent (5%) or more, the designated Affiliate shall be responsible for the costs of the audit. 

 

	 	(C)	The designated Affiliate shall remain responsible for its obligations hereunder (including its obligation to make all Contingent Payments due Elan by reason of any Net
Sales of TYSABRI by the Third Party), and shall ensure any Third Party complies with all relevant provisions of this Agreement. 

  

	 	(D)	In the event of any uncured breach by the Third Party under the Alternative Transfer Agreement that would constitute a breach of the designated Affiliate’s
obligations under this Agreement, the designated Affiliate will promptly inform Elan in writing and shall take such action which, in the designated Affiliate’s reasonable business judgment, will address such default. Elan shall not have any
legal or equitable right, remedy or claim under, or in respect of, the Alternative Transfer Agreement or any covenants, conditions or provisions contained therein, as a third party beneficiary or otherwise. 

 

	 	(E)	Effective upon the consummation of the Alternative TYSABRI Transaction, Net Sales of TYSABRI by the Third Party and its Affiliates in the Minor Market Country shall be
treated as Net Sales by Biogen Idec or any of its Affiliates for all purposes under this Agreement, and shall be calculated by applying the definition of Net Sales set forth in Section 1.1(gg) as if such definition applied to sales of TYSABRI
by such Third Party and its Affiliates. No portion of any amounts received by Biogen Idec or any of its Affiliates in connection with such Alternative TYSABRI Transaction or sales of TYSABRI to such Third Party and its Affiliates (including Royalty
Consideration and Non-Royalty Consideration received by Biogen Idec or its Affiliates from such Third Party or any of its Affiliates, and gross amounts invoiced by Biogen Idec or any of its Affiliates for sales of TYSABRI to such Third Party or any
of its Affiliates) shall be shared with Elan. 

  

	 	(ii)	If Biogen Idec or the merging Affiliate makes an election pursuant to clause (y) of Section 4.9(e) with respect to an Alternative TYSABRI Transaction with a
Third Party in a Minor Market Country, then the provisions of this Section 4.9(e)(ii) shall apply. 

  
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	 	(A)	At or prior to the consummation of such Alternative TYSABRI Transaction, and as a condition thereto, Biogen Idec or the merging Affiliate shall cause such Third Party
to execute and deliver to Elan an agreement in a form to be mutually agreed upon by the Parties prior to Closing. 

  

	 	(B)	Effective upon the consummation of such Alternative TYSABRI Transaction and for so long as such Third Party or any of its Affiliates have a right to sell TYSABRI in
such Minor Market Country, the terms of Section 4.2 shall apply to such Third Party and its Affiliates only with respect to sales of TYSABRI by such Third Party and its Affiliates in such Minor Market Country, and the terms of Section 4.2
of this Agreement shall apply to Biogen Idec and its Affiliates only with respect to sales of TYSABRI by Biogen Idec and its Affiliates in the Retained Territory. 

 

	 	(C)	No portion of any amounts received by Biogen Idec or any of its Affiliates in connection with such Alternative TYSABRI Transaction or sales of TYSABRI to such Third
Party and its Affiliates (including Royalty Consideration and Non-Royalty Consideration received by Biogen Idec or its Affiliates from such Third Party or any of its Affiliates, and gross amounts invoiced by Biogen Idec or any of its Affiliates for
sales of TYSABRI to such Third Party or any of its Affiliates) shall be shared with Elan. 

 (f)
General. In the event that Biogen Idec or any of its Affiliates that is bound by this Agreement engages in a transaction that is not a TYSABRI Transaction, Alternative TYSABRI Transaction, Standard Distribution Transaction or a transaction
described in Section 14.1(c) and, as a result of such transaction, a Third Party obtains TYSABRI Rights in any country in the Territory, such transaction shall be treated as a TYSABRI Transaction for purposes of this Section 4.9.

 4.10. Distribution Transactions. 

(a) New Standard Distribution Transactions. 

 

	 	(i)	If Biogen Idec or any of its Affiliates enters into a Standard Distribution Transaction with any Third Party with respect to any country in the Retained Territory:

  

	 	(A)	the gross amount invoiced for sales of TYSABRI in such country by Biogen Idec or any of its Affiliates to such Third Party shall be included in clause (1) of the
first sentence of Section 1.1(gg) for purposes of calculating Net Sales pursuant to Section 1.1(gg); and 

  
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	 	(B)	all Royalty Consideration received by Biogen Idec or any of its Affiliates from such Third Party in connection with such Standard Distribution Transaction shall be
treated as “net royalty amounts received by Biogen Idec or any of its Affiliates with respect to sales of TYSABRI” in such country for purposes of calculating Net Sales pursuant to Section 1.1(gg). 

For purposes of this Agreement, “Standard Distribution Transaction” shall mean any transaction pursuant to which
(x) Biogen Idec or any of its Affiliates (or a Third Party to which Biogen Idec or one of its Affiliates has previously granted rights to sell TYSABRI (an “Existing TYSABRI Distributor”)) grants rights to sell TYSABRI to any
Third Party (whether exclusive or non-exclusive) in any country in the Territory and (y) neither Biogen Idec nor any of its Affiliates (or such Existing TYSABRI Distributor) is entitled to receive any consideration other than the consideration
described in subsections (i)(A) and (i)(B) above from such Third Party in connection with such transaction. 
  

	 	(ii)	Biogen Idec shall give Elan written notice of any Standard Distribution Transaction within ten (10) Business Days after consummation thereof, which notice shall
include a reasonably detailed description of such Standard Distribution Transaction, including a list of the countries subject to such Standard Distribution Transaction and the Royalty Consideration, if any, received by Biogen Idec and its
Affiliates in connection therewith. 

  

	 	(iii)	The amount and a reasonably detailed description of any Royalty Consideration received by Biogen Idec or any of its Affiliates from such Third Party in connection with
such Standard Distribution Transaction in any Calendar Quarter shall be set forth in the report delivered to Elan in respect of such Calendar Quarter pursuant to Section 4.3(a). 

(b) Termination of Distribution Arrangements. If Biogen Idec or any of its Affiliates terminates or otherwise does
not renew an agreement or relationship with a Distributor relating to sales of TYSABRI by such Distributor in any country, and Biogen Idec or any of its Affiliates thereafter sells TYSABRI directly to customers in such country, then such sales of
TYSABRI by Biogen Idec and its Affiliates shall be treated as “sales of TYSABRI in such country by Biogen Idec or any of its Affiliates” for purposes of calculating Net Sales pursuant to Section 1.1(gg). If Biogen Idec or any of its
Affiliates pays Non-Royalty Consideration to a Distributor in connection with such termination or non-renewal, Elan shall elect, in its sole discretion, by giving notice to Biogen Idec to either: (x) pay to Biogen Idec the Applicable Percentage
of such Non-Royalty Consideration or (y) have Net Sales by Biogen Idec and its Affiliates in the 

  
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relevant country be subject to a downward adjustment, which downward adjustment shall be calculated by multiplying the applicable Net Sales by Biogen Idec and its Affiliates by the fraction
(X-Y)/X, where X is the average Net Sales per unit sold of TYSABRI by such Distributor in such country during the twelve (12) calendar month period ending immediately prior to such termination or non-renewal (calculated by applying the
definition of Net Sales in Section 1.1(gg) as if it applied to sales of TYSABRI by such Distributor and dividing such Net Sales by the number of units of TYSABRI sold by such Distributor) and Y is the average purchase price per unit paid
by such Distributor to purchase TYSABRI from Biogen Idec or any of its Affiliates for resale in such country during the twelve (12) calendar month period ending immediately prior to such termination or non-renewal. 

 

	5.	Closing. 

 5.1. Closing. The closing of the purchase and sale of the Transferred Assets and the assumption of the Assumed Liabilities (the “Closing”) shall take place at the offices of
Appleby LLP in Hamilton, Bermuda, at 11:00 A.M., local time, on the Closing Date. Immediately after the Clearance Date, Biogen Idec and Elan shall mutually select a date during the five (5) Business Day period following the Clearance Date on
which the Closing will occur, subject to the satisfaction (or, to the extent permitted, waiver) of all of the conditions set forth in Section 6 on or before such date (the “Closing Date”); provided, however, that
if the Clearance Date occurs during the last twelve (12) Business Days of a Calendar Quarter, then the Closing Date shall be the first (1st) Business Day of the subsequent Calendar Quarter or such other date as Biogen Idec and Elan mutually agree, in
each case subject to the satisfaction (or, to the extent permitted, waiver) of all of the conditions set forth in Section 6 on or before such date. The Closing shall be deemed to occur and be effective at 11:59 P.M., local time, on the Closing
Date. For the avoidance of doubt, Biogen Idec shall not be required to close during the last twelve (12) Business Days of any Calendar Quarter. 
 5.2. Closing Deliveries by Elan. At the Closing, Elan Pharma International Limited will deliver or cause to be delivered to Biogen Idec (unless delivered previously) each of the following items,
duly executed by Elan or its Affiliate(s), as applicable: 
 (a) the Termination Agreement; 

(b) an Assignment of Patents, an Assignment of Trademarks and an Assignment of Domain Names, substantially in the forms
set forth in Exhibit D (the “IP Assignments”); 
 (c) an assignment and assumption
agreement covering the assignment to, and assumption by, Biogen Idec of the Assumed Liabilities, substantially in the form set forth in Exhibit E (the “Assignment and Assumption Agreement”); 

(d) the certificate required to be delivered by Elan Pharma International Limited pursuant to Section 6.1(c);

 (e) letters from Elan or its Affiliate(s), as applicable, addressed to the applicable Regulatory Authorities
transferring the rights to each of the Clinical Trial 

  
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Applications, Drug Approval Applications, Product NDCs and Regulatory Approvals to Biogen Idec, in forms reasonably acceptable to Biogen Idec; and 

(f) copies of, or evidence that Elan has obtained, all Required Third Party Consents set forth on Schedule 5.2(f)
(the “Material Consents”). 
 5.3. Closing Deliveries by Biogen Idec. At the Closing, Biogen Idec will
deliver or cause to be delivered to Elan (unless delivered previously) each of the following items, duly executed by Biogen Idec or its Affiliate(s), as applicable: 

(a) the Termination Agreement; 
 (b) the Upfront Payment; 
 (c) the IP Assignments; 

(d) the Assignment and Assumption Agreement; and 

(e) the certificate required to be delivered by Biogen Idec pursuant to Section 6.2(c). 

 

	6.	Conditions to Closing. 

 6.1. Conditions Precedent to Biogen Idec’s Obligations on the Closing Date. All of the obligations of Biogen Idec arising hereunder on the Closing Date are subject to fulfillment, prior to or
at the Closing, of the following conditions (compliance with which or the occurrence of which may be waived in whole or in part by Biogen Idec in writing): 
 (a) The representations and warranties of Elan (i) contained in Section 7.1(a), Section 7.1(b)(ii), Section 7.2(a), Section 7.2(c), Section 7.2(h), Section 7.2(i),
Section 7.2(s), the first sentence of Section 7.2(t), Section 7.2(v), Section 7.2(z), Section 7.2(bb), Section 7.2(dd), Section 7.2(ee) and Section 7.2(ff) (the “Specified Sections”) shall be
true and correct in all respects both when made and at the Closing with the same force and effect as if made as of the Closing Date, (other than such representations and warranties that expressly speak only as of a specific date or time, which shall
be true and correct in all respects as of such specified date or time, and other than the representations and warranties contained in Section 7.2(h), Section 7.2(i) and Section 7.2(s), which shall be true and correct in all respects
only to the extent related to the Transferred Intellectual Property referenced therein that relates to TYSABRI); (ii) contained in Section 7.2(b), Section 7.2(e), Section 7.2(f) and Section 7.2(p) shall be true and correct
in all material respects both when made and at the Closing with the same force and effect as if made as of the Closing Date, (other than such representations and warranties that expressly speak only as of a specific date or time, which shall be true
and correct in all material respects as of such specified date or time); and (iii) contained in this Agreement (other than the Specified Sections and the Sections described in clause (ii) of this Section 6.1(a)) shall be, without
giving effect to any materiality qualifier in such representations and warranties, true and correct in all respects both when made and at the Closing with the same force and effect as if made as of the Closing Date, (other than such representations

  
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and warranties that expressly speak only as of a specific date or time, which shall be true and correct as of such specified date or time), except where the failure of such representations and
warranties referenced in this clause (iii) to be true and correct at such time as has not had and would not reasonably be expected to have, in the aggregate, a TYSABRI Material Adverse Change.  

(b) Elan shall, or shall cause its Affiliates to, have performed and complied in all material respects with all the terms,
provisions and conditions of this Agreement to be complied with and performed by Elan at or before the Closing. 

(c) Elan Pharma International Limited shall have delivered to Biogen Idec a certificate dated as of the Closing Date and
executed by an authorized officer of Elan to the effect that each of the conditions specified above in Sections 6.1(a) and (b) is satisfied in all respects. 

(d) No Governmental Order shall be in effect which (i) prevents consummation of any of the Transactions,
(ii) would result in any of the Transactions being rescinded following consummation, (iii) would limit or otherwise adversely affect the right of Biogen Idec (or any Affiliate thereof) to operate all or any portion of the TYSABRI Business
or Transferred Assets or any portion of the business or assets of Biogen Idec or any of its Affiliates, (iv) would compel Biogen Idec or any of its Affiliates to dispose of all or any portion of either the TYSABRI Business or Transferred Assets
or the business or assets of Biogen Idec or any of its Affiliates, or (v) would require Biogen Idec (or any Affiliate thereof) to pay a fine or other penalty. 

(e) (i) No Action by a Merger Control Legislation Authority shall be pending or threatened in writing which seeks a
Governmental Order, and (ii) no Action by any Person (other than a Merger Control Legislation Authority) shall be pending which seeks, and in the reasonable good faith determination of Biogen Idec would reasonably be expected to result in, a
Governmental Order, in each case, which Governmental Order would (A) prevent consummation of any of the Transactions, (B) result in any of the Transactions being rescinded following consummation, (C) limit or otherwise adversely
affect the right of Biogen Idec (or any Affiliate thereof) to operate all or any portion of the TYSABRI Business or Transferred Assets or any portion of the business or assets of Biogen Idec or any of its Affiliates, (D) compel Biogen Idec or
any of its Affiliates to dispose of all or any portion of either the TYSABRI Business or Transferred Assets or the business or assets of Biogen Idec or any of its Affiliates, or (E) require Biogen Idec (or any Affiliate thereof) to pay a fine
or other penalty. 
 (f) The waiting periods and approvals necessary to permit Closing under all Merger Control
Legislation filings shall have expired or terminated or been obtained. 
 (g) Since the Execution Date, there
shall have been no events or occurrences that resulted in a TYSABRI Material Adverse Change. 
 (h) The actions
specified in Section 5.2 shall have been completed. 
 (i) Elan shall have obtained all Material Consents.

  
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 (j) Elan shall have prepared and delivered to Biogen Idec a complete,
accurate and original IRS Form W-8BEN for the Upfront Payment in accordance with Section 4.4(b). 
 (k) Elan
shall have terminated, and delivered evidence of such termination to Biogen Idec, any and all services provided to Elan by any Prothena Group Company that relate to TYSABRI or any other Alpha-4 Integrin Products or JCV Assays, or to JCV or PML.

 (l) Elan shall have delivered to Biogen Idec true and complete copies of any confidentiality, proprietary
information and/or invention agreement, or any similar agreement, between Elan and any TYSABRI Employee set forth on Schedule 3.11(h). 
 (m) Biogen Idec shall have received from Elan a copy of a written agreement with the Office of Inspector General of the United States Department of Health and Human Services, in a form and substance
reasonably satisfactory to Biogen Idec, that the Corporate Integrity Agreement between the Office of Inspector General of the Department of Health and Human Services and Elan Corporation, plc, dated as of December 15, 2010, shall in no way
apply to Biogen Idec or any of its products following the consummation of the Transactions. 
 6.2. Conditions Precedent to
Elan’s Obligations on the Closing Date. All of the obligations of Elan arising hereunder on the Closing Date are subject to fulfillment, prior to or at the Closing, of the following conditions (compliance with which or the occurrence of
which may be waived in whole or in part by Elan in writing): 
 (a) The representations and warranties of Biogen
Idec contained herein shall be true and correct in all respects (in the case of any representation or warranty qualified by materiality and the representations and warranties set forth in Sections 7.1, 7.3(c), 7.3(d) and 7.3(e)) or in all material
respects (in the case of any other representations or warranties), in each case, both when made and at the Closing with the same force and effect as if made as of the Closing Date (other than such representations and warranties that expressly speak
only as of a specific date or time, which shall be true and correct in all respects as of such specified date or time). 
 (b) Biogen Idec shall have performed and complied in all material respects with all the terms, provisions and conditions of this Agreement to be complied with and performed by Biogen Idec at or before the
Closing. 
 (c) Biogen Idec shall have delivered to Elan a certificate dated as of the Closing Date and executed
by an authorized officer of Biogen Idec to the effect that each of the conditions specified above in Sections 6.2(a) and (b) is satisfied in all respects. 
 (d) No Governmental Order shall be in effect which (i) prevents consummation of any of the Transactions, (ii) would result in any of the Transactions being rescinded following consummation, or
(iii) would require Elan (or any Affiliate thereof) to pay a fine or other penalty. 

  
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 (e) (i) No Action by a Merger Control Legislation Authority shall be pending
or threatened in writing which seeks a Governmental Order, and (ii) no Action by any Person (other than a Merger Control Legislation Authority) shall be pending which seeks, and in the reasonable good faith determination of Elan would
reasonably be expected to result in, a Governmental Order, in each case, which Governmental Order would (A) prevent consummation of any of the Transactions, (B) result in any of the Transactions being rescinded following consummation, or
(C) require Elan (or any Affiliate thereof) to pay a fine or other penalty. 
 (f) The waiting periods and
approvals necessary to permit Closing under all Merger Control Legislation filings shall have expired or terminated or been obtained. 
 (g) The actions specified in Section 5.3 shall have been completed. 
 (h) Biogen Idec shall have paid to Elan in full the Upfront Payment without withholding or deduction of any amount; provided, however, that if, as of the Closing Date, any of Elan’s
representations in Sections 7.2(a), 7.2(dd), 7.2(ee) and 7.2(ff) are not true or Elan has not complied with its obligations under Sections 4.4(b) and 4.4(c)(i), then Biogen Idec shall have paid to Elan in full the Upfront Payment less any
withholding required under the laws of any jurisdiction. 
  

	7.	Representations and Warranties. 

 7.1. By Each Party. Each Party hereby represents and warrants to the other Party as follows: 
 (a) Such Party is a legal entity duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization and has full power and authority to execute and
deliver this Agreement and to carry out, or cause to be carried out, the Transactions. This Agreement is a legal and valid obligation binding upon such Party and enforceable in accordance with its terms. 

(b) The execution, delivery and performance of this Agreement by such Party and the consummation by such Party of the
Transactions does not: (i) conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it is bound; (ii) conflict with or result in any breach of any provisions of the certificate of
incorporation, by-laws or other governing documents of such Party; (iii) violate any law, regulation or order of any court, governmental body or administrative or other agency having jurisdiction over it; or (iv) require any consent,
approval, authorization or permit of, or filing with or notification to, any governmental entity, except as described in Sections 2.2 and 3.7 and in the Assignment of Patents, Assignment of Trademarks and Assignment of Domain Names. 

(c) Except as set forth in Schedule 7.1 or as previously disclosed by such Party to the other Party pursuant to the
Collaboration Agreement, there are no Actions pending or, to the knowledge of such Party, threatened in writing concerning such Party or any of its Affiliates with respect to the Transferred Assets, the Alpha-4 Integrin Products, the JCV Assays or
the Transactions. 

  
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 7.2. By Elan. Except as specifically set forth in Schedule 7.2 (the
“Elan Disclosure Schedule”), Elan hereby represents and warrants to Biogen Idec as follows: 

(a) Elan is the beneficial owner of the Intellectual Property included in the Transferred Assets (other than such
Intellectual Property that is jointly owned by Elan with Biogen Idec or a Third Party, with respect to which Elan is the beneficial owner of the portion of such Intellectual Property that Elan owns and that is being transferred to Biogen Idec
hereunder), is a valid resident of Ireland, qualifies under the US/Irish tax treaty limitation of benefits clause and is eligible for reduced withholding under the US/Irish tax treaty. Each of Elan’s Affiliates that is a beneficial owner of any
of the Transferred Assets is either a resident of Ireland and qualifies under the US/Irish tax treaty limitation of benefits clause, or is a United States person for U.S. federal income tax purposes. 

(b) Elan has not granted any rights to any Person which would conflict with the rights granted to Biogen Idec hereunder.

 (c) Elan has the right to grant the licenses granted herein. 

(d) Elan has no knowledge of any communication from a Third Party alleging that the Development, manufacture or
Commercialization of Alpha-4 Integrin Products or JCV Assays has violated or would violate any of the intellectual property rights owned or controlled by such Third Party. 

(e) All of Elan’s employees and officers who are or were involved in the Development, manufacture or
Commercialization of Alpha-4 Integrin Products or JCV Assays have executed agreements requiring assignment to Elan of all inventions made during the course of and as a result of their association with Elan and obligating the individual to maintain
as confidential the confidential information of Elan. Elan has obtained, or caused its Affiliates, as applicable, to obtain, assignments from the inventors of all Elan inventorship rights relating to the Elan Patents, and all such assignments of
inventorship rights relating to the Elan Patents are valid and enforceable. 
 (f) To Elan’s knowledge,
there are no Third Party Patents that might be or would be infringed by the Development, manufacture, use or Commercialization of Licensed Products, other than those that have been brought to the attention of Biogen Idec. 

(g) To Elan’s knowledge, there are no Third Party Patents that would be infringed by the Development, manufacture,
use or Commercialization of Alpha-4 Integrin Products (other than Licensed Products) or JCV Assays, other than those that have been brought to the attention of Biogen Idec. 

(h) Elan is the sole and exclusive owner of and has the sole right, title and interest in and to all Elan Patents set
forth on Schedule 1.1(r), Schedule 1.1(t)(A) and Schedule 7.2(q), subject to any rights under such Elan Patents granted to Biogen Idec under the Collaboration Agreement. Elan is the joint owner with Biogen in all the Elan
Patents set forth on Schedule 1.1(t)(B). Elan is the joint owner with Third Parties of the 

  
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Elan Patents set forth on Schedule 7.2(h). To Elan’s knowledge, Schedule 1.1(r), Schedule 1.1(t)(A) and Schedule 7.2(q) constitute collectively a complete and
correct listing of all Elan Patents Controlled solely by Elan. To Elan’s knowledge, Schedule 7.2(h) and Schedule 1.1(t)(B) constitute collectively a complete and correct listing of all Elan Patents Controlled jointly by Elan with
another party. 
 (i) Elan is the sole and exclusive owner of, and has the sole right, title and interest in and
to all of the Transferred Intellectual Property, other than the Intellectual Property set forth on Schedule 1.1(t)(B) and Schedule 7.2(h). 
 (j) There are no liens or encumbrances on the Transferred Intellectual Property that is solely owned by Elan or owned jointly by Elan and Biogen Idec. To Elan’s knowledge, there are no liens or
encumbrances on any Transferred Intellectual Property that is owned jointly by Elan and any Third Party. 
 (k)
To Elan’s knowledge, Schedule 1.1(t)(B) is a complete and correct list of the Collaboration Inventions and Outside of the Scope Inventions (as defined in the Collaboration Agreement) owned jointly by Elan and Biogen Idec. 

(l) The list of Product Trademarks set forth on Schedule 1.1(ll) is a complete and correct list of all trademarks
Controlled by Elan which are, or have been, used or are intended for use in connection with Licensed Products or JCV Assays in any country in the Territory. 
 (m) The list of Product Domain Names set forth on Schedule 1.1(jj) is a complete and correct list of all domain names Controlled by Elan which are, or have been, used or are intended for use in
connection with Licensed Products or JCV Assays in any country in the Territory. 
 (n) The list of In-Licenses
set forth on Schedule 3.1(g) is a complete and correct list of all Contractual Rights then in effect that are used or held for use by Elan that grant Elan a license to or right to use any Third Party Patent, Know-how or other Intellectual
Property for the Development, manufacturing or Commercialization of Alpha-4 Integrin Products or JCV Assays. Except as set forth on Schedule 3.1(g), the assignment of the In-Licenses to Biogen Idec pursuant to this Agreement will not require
the consent or approval of any Third Party. 
 (o) Except as set forth in Schedule 7.2(o), there is no
Action that is pending or, to the knowledge of Elan, has been threatened in writing against Elan, by Third Parties with respect to the Transferred Intellectual Property or In-Licenses during the past twelve (12) months, including a challenge to
the extent, validity or enforceability of the Elan Patents (including by way of example through the institution or written threat of institution of interference, opposition, nullity or similar invalidity proceedings before the United States Patent
and Trademark Office or any analogous foreign governmental authority). During the past twelve (12) months, Elan has not made or asserted in writing any charge, complaint, claim, demand or notice alleging any infringement, misappropriation,
dilution or violation of any of the Transferred Intellectual Property. 

  
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 (p) To Elan’s knowledge, the Elan Patents (other than the Elan Patents
set forth on Schedule 7.2(q)) and Product Trademarks are valid and enforceable in all respects.  

(q) Except as set forth on Schedule 7.2(q), all of the active and current registrations and applications included
in the Elan Patents and Product Trademarks are in good standing, and all fees, payments and filings that have become due with respect to such registrations and applications have been duly made. 

(r) During the past twelve (12) months, no Person has asserted in writing, and to the knowledge of Elan, no Person
has, any right, title, interest or other claim in, or the right to receive any royalties or other consideration with respect to, any Transferred Intellectual Property. 

(s) Except as set forth on Schedule 7.2(s), none of the Transferred Intellectual Property is, or has been
(i) canceled, revoked or adjudicated invalid (including by way of example through the institution or written threat of institution of interference, opposition, nullity or similar invalidity proceedings before the United States Patent and
Trademark Office or any analogous foreign governmental authority), (ii) rendered unenforceable or (iii) subject to any outstanding order, judgment or decree restricting its use or adversely affecting Elan’s rights therein. All
royalties, fees or other payments payable by Elan to any Person with respect to the Transferred Intellectual Property pursuant to a license agreement that is a Transferred Contract or In-License have been paid or will be paid by Elan pursuant to
Section 4.6. 
 (t) The list of Contractual Rights set forth on Schedule 3.1(h) is a complete and
correct list of all Contractual Rights that are necessary for the Development, manufacturing or Commercialization of Licensed Products or JCV Assays. Except as set forth on Schedule 3.1(h), the assignment of the Transferred Contracts set
forth therein to Biogen Idec pursuant to this Agreement will not require the consent or approval of any Third Party. 
 (u) Elan is not in breach, violation or default (and would not by the lapse of time or the giving of notice or both, be in material default) under the Transferred Contracts, and, to the knowledge of Elan,
no other party to any Transferred Contract is in material breach or default (and would not by the lapse of time or the giving of notice or both, be in material default) thereunder. Each Transferred Contract is in full force and effect in accordance
with the terms thereof and constitutes a legal, valid and binding agreement of Elan, and, to the knowledge of Elan, is enforceable in accordance with its terms by Elan against each counterparty thereto, except as such enforceability may be limited
by bankruptcy, insolvency, reorganization, moratorium or similar law relating to or affecting generally the enforcement of creditors’ rights, and the availability of equitable remedies (whether in a proceeding in equity or at law). 

(v) Schedule 7.2(v) sets forth a complete and correct list of all Regulatory Approvals included in the
Transferred Assets. Elan is the sole and exclusive owner of all 

  
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such Regulatory Approvals. Each Regulatory Approval is valid and in full force and effect. 
 (w) Elan has not received any written communication from any Regulatory Authority regarding (i) any material adverse change in any Regulatory Approval, or any failure to materially comply with any
applicable laws with respect to the Regulatory Approvals or any term or requirement of any Regulatory Approval, or (ii) any revocation, withdrawal, suspension, cancellation, limitation, termination or material modification of any Regulatory
Approval. 
 (x) To the knowledge of Elan, all applications, submissions, information, claims, reports and
statistics, and other data derived therefrom, utilized as the basis for or submitted in connection with any and all requests for Regulatory Approvals when submitted to the Regulatory Authority issuing such Regulatory Approval were true, complete and
correct in all respects as of the date of submission, or as subsequently corrected or modified, and any material updates, changes, corrections or modifications to any applicable applications, submissions, information, claims, reports or statistics
required by any applicable Regulatory Authority to maintain the Regulatory Approvals have been submitted to such Regulatory Authority. 
 (y) All pre-clinical and clinical trials conducted by or for Elan with regard to the Alpha-4 Integrin Products and JCV Assays have been conducted in compliance in all material respects with
(i) applicable protocols, procedures and controls and (ii) all applicable laws promulgated by the FDA relating thereto, including the FDCA, and its applicable implementing regulations. No Clinical Trial Application filed by or on behalf of
Elan with the FDA regarding any Alpha-4 Integrin Product or JCV Assay has been terminated or suspended by the FDA, and the FDA has not commenced, or, to the knowledge of Elan, threatened in writing to initiate, any action to place a clinical hold
order on, or otherwise terminate or suspend, any ongoing clinical investigation conducted by or on behalf of Elan involving any Alpha-4 Integrin Product or JCV Assay. 

(z) Elan has good and valid title to, or the right to transfer (or cause to be transferred), all the tangible Transferred
Assets, including the Transferred Inventory, free and clear of any liens and encumbrances. 
 (aa) The
Transferred Inventory has been stored and shipped by Elan in accordance with all applicable specifications and good manufacturing practices and has not been adulterated or misbranded by Elan as provided for under any applicable law. 

(bb) Except as previously disclosed to Biogen Idec, neither Elan nor any of its Affiliates is directly or indirectly
engaged in the Development, manufacture or Commercialization of any Alpha-4 Integrin Product or JCV Assay except pursuant to the Collaboration Agreement. 
 (cc) To the knowledge of Elan, since November 1, 2004, Elan has complied in all material respects with all applicable laws relating to the Development, marketing, Promotion, distribution and
Commercialization of TYSABRI in the Territory. Elan has 

  
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not received any written notice of a material violation of material applicable law from any governmental entity relating to TYSABRI since November 1, 2004. 

(dd) To the knowledge of Elan, no amount must be withheld or deducted by Biogen Idec from the Upfront Payment, and Elan
will take no action, up to and including the time of the Upfront Payment, that would result in an obligation of Biogen Idec to withhold or deduct an amount from the Upfront Payment. 

(ee) All of the Transferred Inventory is located in the United States, and all other tangible assets included in the
Transferred Assets are not located in Ireland or the European Union. 
 (ff) None of the Transferred Assets
comprise assets described within the terms of Section 980(2) of the Taxes Consolidation Act, 1997. 
 (gg)
Except for the Excluded Prothena Licenses, no Patent, Know-how or other Intellectual Property that would be “Transferred Intellectual Property” under this Agreement if Controlled by Elan on the Execution Date was transferred by Elan to any
Prothena Group Company prior to the Execution Date. 
 (hh) Except for the Excluded Prothena Licenses, no
Patents, Know-how or other Intellectual Property that is necessary or useful to Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported any Alpha-4 Integrin Product or JCV Assay,
or that relates to PML or JCV, has been discovered, developed, conceived or reduced to practice pursuant to or in connection with any agreement between Elan and any Prothena Group Company. 

7.3. By Biogen Idec. Except as specifically set forth in Schedule 7.3 (the “Biogen Idec Disclosure
Schedule”), Biogen Idec hereby represents and warrants to Elan as follows: 
 (a) All pre-clinical and
clinical trials conducted by or for Biogen Idec with regard to the Alpha-4 Integrin Products and JCV Assays have been conducted in compliance in all material respects with (i) applicable protocols, procedures and controls and (ii) all
applicable laws promulgated by the FDA relating thereto, including the FDCA, and its applicable implementing regulations. No Clinical Trial Application filed by or on behalf of Biogen Idec with the FDA regarding any Alpha-4 Integrin Product or JCV
Assay has been terminated or suspended by the FDA, and the FDA has not commenced, or, to the knowledge of Biogen Idec, threatened in writing to initiate, any action to place a clinical hold order on, or otherwise terminate or suspend, any ongoing
clinical investigation conducted by or on behalf of Biogen Idec involving any Alpha-4 Integrin Product or JCV Assay. 
 (b) To the knowledge of Biogen Idec, since November 1, 2004, Biogen Idec has complied in all material respects with all applicable laws relating to the Development, marketing, Promotion, distribution
and Commercialization of TYSABRI in the Territory. Biogen Idec has not received any written notice of a material violation of material applicable law from any governmental entity relating to TYSABRI since November 1, 2004. 

  
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 (c) Biogen Idec is a resident only of Bermuda. 

(d) Biogen Idec has no place of business or employees or “establishment” (as defined in the Value-Added Tax
Consolidation Act 2010) in Ireland, or in any other EU Member State, and is not registered or required to be registered for any taxes in Ireland or in any other EU Member State. 

(e) To the knowledge of Biogen Idec as of the Execution Date, and based in part on Elan’s representations and
covenants, including in Sections 7.2(a), 7.2(dd), 7.2(ee) and 7.2(ff), Biogen Idec is not required to withhold or deduct from the Upfront Payment under the laws of any jurisdiction. As of the Execution Date, and based in part on Elan’s
representations and covenants, including in Sections 7.2(a), 7.2(dd), 7.2(ee) and 7.2(ff), Biogen Idec does not intend to withhold or deduct from the Upfront Payment with respect to withholding taxes under the laws of any jurisdiction. 

7.4. Notice of Certain Events; Updating the Disclosure Schedule. From the Execution Date until the Closing, or the earlier
termination of this Agreement in accordance with Section 2.6 or Section 13.1, each of Biogen Idec and Elan (the “Notifying Party”) shall promptly (and in any event prior to the Closing) notify the other Party in writing
(with any such writing to include a written update to the Elan Disclosure Schedule or Biogen Idec Disclosure Schedule, as the case may be, to the extent applicable) upon the Notifying Party obtaining knowledge: (a) that any representation or
warranty made by the Notifying Party in this Agreement was when made, or has subsequently become, untrue or inaccurate; (b) of the occurrence or non-occurrence of any event, the occurrence or non-occurrence of which has caused or may reasonably
be expected to cause any condition to the obligations of any Party to effect the Transactions not to be satisfied; (c) of the failure of the Notifying Party to comply with or satisfy any covenant, condition or agreement to be complied with or
satisfied by the Notifying Party pursuant to this Agreement; (d) of any communication from any Person alleging that the consent of such Person (or another Person) is or may be required in connection with the Transactions (and the response
thereto of such Party or its representatives or agents); (e) of any communication from any governmental authority in connection with the Transactions (and the response thereto of such Party or its representatives or agents); (f) of the
commencement or initiation or threat of commencement or initiation of any Action regarding this Agreement or the Transactions or otherwise involving the Transferred Assets, the Alpha-4 Integrin Products or the JCV Assays; (g) of any material
development in any pending Action regarding the Transactions or otherwise involving the Transferred Assets, the Alpha-4 Integrin Products or the JCV Assays; or (h) any event, change, development or occurrence between the Execution Date and the
Closing Date that causes or is reasonably likely to prevent, delay or impede the ability of such Party to consummate any of the Transactions. The delivery of any notice pursuant to this Section 7.4 shall not cure any breach of any
representation or warranty requiring disclosure of such matter or any breach of any covenant, condition or agreement contained in this Agreement or otherwise limit or affect the rights of, or the remedies available to, the Party receiving such
notice, including the rights and remedies specified in Section 2.6, Section 5, Section 6, Section 12 or Section 13. For the avoidance of doubt, the closing conditions set forth in Section 6.1 and the indemnification
provisions of Section 12 shall be read without giving effect to any update to the Elan Disclosure Schedule or Biogen Idec Disclosure Schedule or other written notices delivered pursuant to this Section 7.4. 

  
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	8.	Licenses and Trademarks. 

 8.1. Unblocking Licenses.  
 (a) In the event that
the Development, manufacture or Commercialization of JCV Assays in the Territory by Biogen Idec or any of its Affiliates would, at any time during the Term, misappropriate and/or infringe any Patent, Know-how or other Intellectual Property
Controlled by Elan or any of its Affiliates that is not transferred to Biogen Idec hereunder (including Patents, Know-how or other Intellectual Property Controlled by Elan or any of its Affiliates after the Closing Date), Elan hereby grants to
Biogen Idec and its Affiliates (and shall cause its Affiliates to grant to Biogen Idec and its Affiliates), a worldwide, non-exclusive, non-royalty-bearing license, with the right to sublicense, under such Patent, Know-how and other Intellectual
Property to Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported JCV Assays in the Territory. For the sake of clarity, the license granted under this Section 8.1(a) shall
not extend to assays or other methods, processes or procedures other than JCV Assays in the Territory. 
 (b)
Biogen Idec hereby grants to Elan and its Affiliates (and shall cause its Affiliates to grant to Elan and its Affiliates) a worldwide, co-exclusive with Biogen Idec, non-royalty-bearing license, with the right to sublicense, under any Licensed
Transferred Intellectual Property to develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported products that are not Alpha-4 Integrin Products and/or JCV Assays in the Territory.
For purposes of this Section 8.1(b), “Licensed Transferred Intellectual Property” means the Elan Patents and Elan Know-how included in the Transferred Intellectual Property that (i) relate to any Alpha-4 Integrin Product
(including any Licensed Product) or JCV Assay, or to PML or JCV, or are useful to Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported Alpha-4 Integrin Products and/or JCV
Assays and (ii) are useful to develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported one or more products other than Alpha-4 Integrin Products or JCV Assays. 

8.2. [Intentionally Omitted.] 
 8.3. Product Trademarks. Elan shall neither use nor seek to register, anywhere in the Territory, any trademarks which are confusingly similar to any Product Trademark or any other trademarks, trade
names, trade dress or logos used by or on behalf of any of Biogen Idec and its Affiliates or their sublicensees in connection with an Alpha-4 Integrin Product or JCV Assay. 
 8.4. Non-Exclusive License to Elan Marks. Elan hereby grants to Biogen Idec and its Affiliates a non-exclusive, non-royalty-bearing right and license, with the right to sublicense, to use the
trademarks, trade names, trade dress, service marks, logos and symbols Controlled by Elan after the Closing (the “Elan Marks”) in the Territory solely in connection with the TYSABRI Promotional Materials and labeling for TYSABRI for
a reasonable period of time after the Closing Date, not to exceed twenty-four (24) months, within which Biogen Idec and its Affiliates may use and sell existing inventory of TYSABRI Promotional Materials and

  
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TYSABRI displaying such Elan Marks. For the sake of clarity, the Elan Marks shall not include any of the Product Trademarks, Product Domain Names or any other Transferred Intellectual Property.

 8.5. Alpha-4 Integrin Products License. 

(a) Elan hereby grants to Biogen Idec and its Affiliates an exclusive (even as to Elan and its Affiliates),
non-royalty-bearing, right and license, with the right to sublicense, under any Patents, Know-how and other Intellectual Property Controlled by Elan and its Affiliates that is not transferred to Biogen Idec hereunder (including Patents, Know-how or
other Intellectual Property Controlled by Elan or any of its Affiliates after the Closing Date) to Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported Alpha-4 Integrin
Products in the Territory during the Term. For the sake of clarity, the license granted under this Section 8.5(a) shall not extend to any products (comprising, for example, an agent, chemical entity (including a small molecule), compound,
moiety, mixture of chemical compounds and/or molecules, molecule (including biological macromolecules such as proteins, peptides, carbohydrates and nucleic acids), or an extract) other than Alpha-4 Integrin Products in the Territory. 

(b) During the Term, Elan shall not acquire, directly or indirectly, any right, title or interest in or to, or derive any
benefit from, any Third Party Patent, Know-how or other Intellectual Property that is necessary or useful to Develop, make, have made, use, market, sell, distribute, export, import, offer for sale, have sold, or distributed or imported any Alpha-4
Integrin Product in the Territory, unless such right, title or interest provides Elan with Control of such Patent, Know-how or other Intellectual Property for purposes of Section 8.5(a); provided, however, that an acquisition of a
Person of the type described in, and in compliance with, Section 11.3(b) shall not constitute a breach of this Section 8.5(b). 
 (c) In the event of an acquisition by Elan of a Person as described in, and in compliance with, Section 11.3(b), the license granted by Elan to Biogen Idec and its Affiliates pursuant to
Section 8.5(a) shall be non-exclusive with respect to Patents, Know-How and other Intellectual Property Controlled by such Person until the earlier of (i) twelve (12) months after such acquisition or (ii) Elan’s divestment
of the portion of such Person that engages in the TYSABRI Business or the Alpha-4 Integrin Business. 
 8.6. Disclosure of
Patentable Inventions. If, after the Closing, Elan receives any invention disclosure submitted in the normal course of business which discloses (a) a Collaboration Invention (as defined in the Collaboration Agreement), (b) an Outside
the Scope Invention (as defined in the Collaboration Agreement) made jointly by employees of Elan and Biogen Idec, (c) an Alpha-4 Integrin Product, or (d) an invention included within the Elan Know-how, in each case discovered, conceived
or reduced to practice prior to the Closing Date, Elan shall provide such invention disclosure to Biogen Idec within thirty (30) days after Elan determines that an invention has been made. Elan shall, and hereby does, assign all of Elan’s
right, title and interests in and to any invention disclosed by Elan to Biogen Idec under this Section 8.6, and Elan shall perform, execute, acknowledge and deliver all such further acts,

  
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assurances, deeds, assignments, transfers, conveyances and other instruments and papers as may be reasonable required or appropriate to carry out such assignment. 

8.7. IP Assistance. From and after the Closing, Elan shall, and shall cause its Affiliates to, assist Biogen Idec in preparing,
prosecuting, obtaining, registering, maintaining, defending and enforcing discretion and exclusive control of the Transferred Intellectual Property, including by making employees of Elan and its Affiliates available to Biogen Idec. 

 

	9.	Confidentiality; Publicity. 

 9.1. Confidentiality of Pre-Closing Confidential Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing, the Parties agree that, for the Term, each
of Biogen Idec and Elan shall (and shall cause each of its Affiliates to) keep confidential and not publish or otherwise disclose or use for any purpose other than as provided for in this Agreement any Know-how and other information and materials
furnished to it (or to any of its Affiliates) by the other Party or any of its Affiliates pursuant to the Collaboration Agreement prior to the Closing (collectively, “Pre-Closing Confidential Information”), except to the extent that
it can be established by the receiving Party (or the Party whose Affiliate received such information) that such Pre-Closing Confidential Information: 
 (a) was already known to the receiving Party or its Affiliate, other than under an obligation of confidentiality, at the time of disclosure by the other Party or its Affiliate; 

(b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the
receiving Party or its Affiliate; 
 (c) became generally available to the public or otherwise part of the public
domain after its disclosure and other than through any act or omission of the receiving Party or its Affiliate in breach of this Agreement; 
 (d) was disclosed to the receiving Party or its Affiliate, other than under an obligation of confidentiality, by a Third Party who had no obligation to the disclosing Party or its Affiliate not to
disclose such information to others; or 
 (e) was subsequently developed by the receiving Party or its Affiliate
without use of the Confidential Information as demonstrated by competent written records. 
 9.2. Pre-Closing Confidential
Information Authorized Disclosure. Subject to Section 9.6, each Party may disclose Pre-Closing Confidential Information of the other Party and its Affiliates to the extent such disclosure is required by applicable law, legal or
judicial process or reasonably necessary in filing or prosecuting patent applications, prosecuting or defending litigation, making filings with Regulatory Authorities related to Licensed Products, or complying with applicable governmental
regulations and applicable stock exchange regulations and requirements, provided that in making any such disclosure of the other Party’s and its Affiliates’ Pre-Closing Confidential Information it will, except where impracticable
for necessary disclosures, give reasonable advance notice to the other Party of such disclosure requirement and, except to the extent inappropriate in the case of patent applications, will use its reasonable

  
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efforts to secure confidential treatment of such Pre-Closing Confidential Information required to be disclosed. In addition, each Party shall be entitled to disclose, under a binder of
confidentiality containing provisions substantially as protective as those of this Section 9 to the extent reasonably practicable, Pre-Closing Confidential Information of the other Party and its Affiliates to its Affiliates, consultants and
other Third Parties only for any purpose provided for in this Agreement. 
 9.3. Survival of Pre-Closing Confidentiality
Obligations. The provisions of Sections 9.1 and 9.2 shall survive for the Term. 
 9.4. Confidentiality of Post-Closing
Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing, the Parties agree that, for the Term, the receiving Party shall keep confidential and shall not publish or otherwise disclose or use for any
purpose other than as permitted under this Agreement any Know-how and other information and materials furnished to it by the other Party on or after the Closing pursuant to this Agreement (collectively, “Post-Closing Confidential
Information”), except to the extent that it can be established by the receiving Party that such Post-Closing Confidential Information: 
 (a) was already known to the receiving Party, other than under an obligation of confidentiality, at the time of disclosure by the other Party; 

(b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the
receiving Party; 
 (c) became generally available to the public or otherwise part of the public domain after its
disclosure and other than through any act or omission of the receiving Party in breach of this Agreement or the Collaboration Agreement; 
 (d) was disclosed to the receiving Party, other than under an obligation of confidentiality, by a Third Party who had no obligation to the disclosing Party not to disclose such information to others; or

 (e) was subsequently developed by the receiving Party without use of the Confidential Information as
demonstrated by competent written records. 
 9.5. Post-Closing Confidential Information Authorized Disclosure.

 (a) Each Party may disclose Post-Closing Confidential Information of the other Party (other than the existence
and terms of this Agreement, which may only be disclosed in accordance with Section 9.7) hereunder to the extent such disclosure is required by applicable law, legal or judicial process or reasonably necessary in complying with applicable
governmental regulations and applicable stock exchange regulations and requirements, provided that in making any such disclosure of the other Party’s Post-Closing Confidential Information it will, except where impracticable for necessary
disclosures, give reasonable advance notice to the other Party of such disclosure requirement and will use its reasonable efforts to secure confidential treatment of such Post-Closing Confidential Information required to be disclosed.
Notwithstanding the foregoing, Elan shall be permitted to disclose the reports and information delivered by 

  
 73 

 
Biogen Idec pursuant to, or otherwise related to, Section 4.3(a), Section 4.5(a), Section 4.6, Section 4.7, Section 4.8, Section 12, and the results of any audit
pursuant to Section 4.5(b) (the “Disclosure Information”) in Elan’s periodic filings with the Securities and Exchange Commission (the “SEC”), earnings press releases and investor and analyst conference
calls and presentations, as, and to the extent, required, in the reasonable advice of Elan’s legal counsel, to comply with applicable laws, including the rules and regulations promulgated by the SEC and applicable stock exchange regulations and
requirements. For the avoidance of doubt, Elan shall be permitted to disclose the Disclosure Information in its periodic filings with the SEC, earnings press releases and investor and analyst conference calls notwithstanding whether Biogen Idec has
publicly disclosed such Disclosure Information but only as, and to the extent, required, in the reasonable advice of Elan’s legal counsel, to comply with applicable laws, including the rules and regulations promulgated by the SEC and applicable
stock exchange regulations and requirements. 
 (b) Each Party may disclose the Post-Closing Confidential
Information of the other Party to its Affiliates and its and its Affiliates’ directors, officers and employees who need to know the Post-Closing Confidential Information, provided that any such party shall have agreed to keep such
information confidential pursuant to an agreement of confidentiality or other confidentiality obligation. In addition, each Party may also disclose the Post-Closing Confidential Information of the other Party for reasonable business purposes to its
agents, accountants, rating agencies, investors, co-investors, partners, financing sources, insurers and insurance brokers, underwriters, advisors, lawyers, bankers, trustees and representatives, provided any such party shall have agreed to
keep such information confidential pursuant to an agreement of confidentiality or other confidentiality obligation. 
 (c) Elan may disclose this Agreement, the reports and information delivered by Biogen Idec pursuant to Section 4.3(a) and Section 4.5(a), and the results of any audit pursuant to
Section 4.5(b), in the form of a final audit report (in a format mutually agreed upon by the Parties), to any assignee or potential assignee of Elan’s rights under this Agreement pursuant to Section 14.2(a) or Section 14.2(b) who
has entered into a confidentiality agreement with Biogen Idec in the form attached hereto as Exhibit F. For the avoidance of doubt, the information referred to in this Section 9.5(c) may also be disclosed by Elan pursuant to
Sections 9.5(a) and 9.5(b). 
 9.6. Alpha-4 Integrin Product Confidential Information. Notwithstanding anything to
the contrary in the Collaboration Agreement or this Agreement, after the Closing all Pre-Closing Confidential Information pertaining to Alpha-4 Integrin Products (including Licensed Products) or JCV Assays, including the Development, manufacturing
or Commercialization thereof, disclosed by either Party pursuant to the Collaboration Agreement, and any other Elan Know-how (collectively, “Alpha-4 Integrin Product Confidential Information”) shall be deemed to be Pre-Closing
Confidential Information of Biogen Idec and shall not be Pre-Closing Confidential Information of Elan. Without limiting its rights under any other provision of this Agreement, Biogen Idec shall have the right to use and disclose the Alpha-4 Integrin
Product Confidential Information in its sole discretion. Elan shall not disclose any Alpha-4 Integrin Product 

  
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Confidential Information to any Third Party, except as provided in Section 9.2, nor use it for any purpose other than performing Elan’s obligations under this Agreement. 

9.7. Agreement Terms. The Parties agree that the existence and terms of this Agreement shall be deemed to be Post-Closing
Confidential Information of both Parties. Neither Party shall disclose the existence or terms of this Agreement except (a) as required, in the reasonable advice of such Party’s legal counsel, to comply with applicable laws, including the
rules and regulations promulgated by the United States Securities and Exchange Commission, and applicable stock exchange regulations and requirements and (b) pursuant to Section 9.5(b). Notwithstanding the foregoing, the Parties shall
mutually agree upon a version of this Agreement that each Party will be permitted to file with the Securities and Exchange Commission. 
 9.8. Press Release. On the Execution Date, the Parties shall issue mutually agreed press releases regarding the subject matter of this Agreement, in the forms attached hereto as Exhibit G.

  

	10.	Adverse Drug Events and Reports. 

 10.1. Complaints. During the Term, Elan shall maintain a record of all non-medical and medical product-related complaints it receives with respect to Licensed Products, and shall promptly notify
Biogen Idec of any complaint received by it in sufficient detail and in sufficient time to allow Biogen Idec to comply with any and all regulatory requirements imposed upon it in any country. 

10.2. Adverse Drug Experiences. During the Term, to the extent Elan has or receives any information regarding any adverse drug
experience which may be related to the use of Licensed Products, Elan shall promptly provide Biogen Idec with all such information. 
 10.3. Recalls. During the Term, Biogen Idec shall make all decisions with respect to and shall be responsible for any recalls, withdrawals or corrections of Licensed Products. To the extent
Elan has or receives any information regarding an alleged or proven recall or market withdrawal of TYSABRI in any country in the Territory, Elan shall promptly (and in any event within five (5) days of receipt of written notice of any such
recall or market withdrawal) provide Biogen Idec with all such information. Elan shall make available to Biogen Idec, upon request, all of Elan’s pertinent records that Biogen Idec may reasonably request to assist it in effecting any recall or
market withdrawals. Biogen Idec shall have no obligation to reimburse or otherwise compensate Elan for any costs that may be incurred in connection with any such recall or market withdrawal. Elan shall cooperate with and assist Biogen Idec in
complying with all of Biogen Idec’s obligations with respect to adverse event reporting. 
  

	11.	Restrictive Covenants. 

 11.1. EEA/Switzerland. 
 (a) During the EEA/Switzerland
TYSABRI Restricted Period, neither Elan nor any of its Affiliates shall, alone or in collaboration with or through the grant of any rights to any Third Party, engage directly or indirectly, as an owner, investor or lender (through equity, debt or
any other financial interest), employee, consultant, vendor, 

  
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contractor, partner or otherwise, in all or any portion of any TYSABRI Business in the European Economic Area and Switzerland (“EEA/Switzerland”) (except to the extent necessary
for Elan to perform its obligations under Section 3 of this Agreement and except for Elan’s rights to receive payments under this Agreement). The “EEA/Switzerland TYSABRI Restricted Period” shall mean the period beginning
on the Closing Date and ending on the third (3rd) anniversary of the Closing Date. 
 (b) During the
EEA/Switzerland Alpha-4 Integrin Restricted Period, neither Elan nor any of its Affiliates shall, alone or in collaboration with or through the grant of any rights to any Third Party, engage directly or indirectly, as an owner, investor or lender
(through equity, debt or any other financial interest), employee, consultant, vendor, contractor, partner or otherwise, in all or any portion of any Alpha-4 Integrin Business in EEA/Switzerland (except to the extent necessary for Elan to perform its
obligations under Section 3 of this Agreement and except for Elan’s rights to receive payments under this Agreement). The “EEA/Switzerland Alpha-4 Integrin Restricted Period” shall mean the period beginning on the Closing
Date and ending on the third (3rd) anniversary of the Closing Date. 
 11.2. Outside the EEA/Switzerland.

 (a) During the Ex-EEA/Switzerland TYSABRI Restricted Period, neither Elan nor any of its Affiliates shall,
alone or in collaboration with or through the grant of any rights to any Third Party, engage directly or indirectly, as an owner, investor or lender (through equity, debt or any other financial interest), employee, consultant, vendor, contractor,
partner or otherwise, in all or any portion of any TYSABRI Business in any country in the Territory that is not the EEA/Switzerland (except to the extent necessary for Elan to perform its obligations under Section 3 of this Agreement and except
for Elan’s rights to receive payments under this Agreement). The “Ex-EEA/Switzerland TYSABRI Restricted Period” shall mean the period beginning on the Closing Date and ending on the last day of the Term. 

(b) Without limiting the scope of Section 11.2(a), during the Ex-EEA/Switzerland Alpha-4
Integrin Restricted Period, neither Elan nor any of its Affiliates shall, alone or in collaboration with or through the grant of any rights to any Third Party, engage directly or indirectly, as an owner, investor or lender (through equity, debt or
any other financial interest), employee, consultant, vendor, contractor, partner or otherwise, in all or any portion of any Alpha-4 Integrin Business in any country in the Territory that is not the EEA/Switzerland (except to the extent necessary for
Elan to perform its obligations under Section 3 of this Agreement and except for Elan’s rights to receive payments under this Agreement). The “Ex-EEA/Switzerland Alpha-4 Integrin Restricted Period” shall mean the period
beginning on the Closing Date and ending on the twelfth
(12th) anniversary of the Closing Date. 

  
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 11.3. Exceptions to Restrictive Covenants. Notwithstanding anything to the contrary
set forth in this Section 11, Section 11.1 and Section 11.2 shall not apply to: 
 (a) any
investment by Elan or its Affiliates in (i) any debt securities or other debt obligations which in each case are non-voting and are not convertible into voting securities described in clause (ii) or (iii) below, (ii) any third
Person (including any corporation or mutual or other fund) that does not have any shares or securities that are publicly traded and which invests in, manages or operates the TYSABRI Business or the Alpha-4 Integrin Business, so long as such
investment does not grant, directly or indirectly, any management function or material influence in such third Person and so long as Elan’s or any of its Affiliate’s investment is less than ten percent (10%) of the outstanding
ownership interest in such third Person, (iii) not more than five percent (5%) of any publicly traded class of shares or securities of any Person, so long as such investment does not grant, directly or indirectly, any management function
or material influence in such Person, or (iv) investment in any debt or equity securities through any employee benefit plan or pension plan maintained by Elan or any of its Affiliates for its or their employees, provided that Elan and
its Affiliates will not request or direct that the trustee or other administrator of any plan acquire any voting securities of a Person that engages in the TYSABRI Business or the Alpha-4 Integrin Business and so long as such investment does not
grant, directly or indirectly, any management function or material influence to Elan, its Affiliates and/or such plans; or 
 (b) any acquisition (by purchase of stock or assets, merger or otherwise) of a Person that is not primarily engaged in the TYSABRI Business or the Alpha-4 Integrin Business, provided that Elan or
its Affiliates, as applicable, promptly divest that portion of such Person that engages in the TYSABRI Business or the Alpha-4 Integrin Business within twelve (12) months after the acquisition of such Person. Without limiting the foregoing,
Elan or its Affiliates, as applicable, shall use commercially reasonable efforts to divest such portion of such Person as soon as reasonably practicable. 
 11.4. Severability. Without limiting the scope of Section 17.4, if the final judgment of a court of competent jurisdiction declares that any term or provision of this Section 11 is
invalid or unenforceable, the Parties hereto agree that the court making the determination of invalidity or unenforceability will have the power to reduce the scope, duration, or area of the term or provision, to delete specific words or phrases, or
to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement will be
enforceable as so modified after the expiration of the time within which the judgment may be appealed. 
  

	12.	Indemnification and Insurance; Survival of Representations. 

 12.1. Indemnification and Shared Losses. 
 (a) Certain
Definitions. For purposes of this Agreement: 

  
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	 	(i)	“Indemnitees” shall mean, with respect to a Party, such Party’s Affiliates and their directors, officers, employees, agents and representatives.

  

	 	(ii)	“Losses” shall mean, collectively, losses, damages, liabilities, claims, settlement amounts, awards, judgments, penalties, fines, costs (including
costs of investigation and defense) and expenses (including reasonable attorneys’ fees and expenses). 

  

	 	(iii)	“Product Liability Claim” shall mean a Third Party Claim that is a product liability claim concerning any TYSABRI Activities in the Territory before or
during the Term, including claims alleging defects in TYSABRI and claims involving the death of or injury to any individual (or allegations thereof) relating to TYSABRI. 

 

	 	(iv)	“Third Party Claim” shall mean a claim asserted by a Third Party (in no event to include any Affiliate of either Party) against a Party or any of its
Indemnitees, whether such claim is asserted before or during the Term. 

  

	 	(v)	“Third Party Infringement Claim” shall mean a Third Party Claim alleging that the making, use, sale, offering for sale, supply, causing to be supplied,
or import of TYSABRI before or during the Term infringes any intellectual property right of such Third Party. 

  

	 	(vi)	“TYSABRI Activities” shall mean the manufacture, use, handling, storage, sale or other disposition of TYSABRI in the Territory by a Party, its
Affiliates, agents, licensees or sublicensees before or during the Term. 

  

	 	(vii)	“Violation of Law” shall mean a material violation of any law, regulation or order of any court, governmental body or administrative or other agency
(but, for clarity, not including violations of law other than gross negligence or willful misconduct alleged in Products Liability Claims or violations of law other than willful infringement alleged in Third Party Infringement Claims).

 (b) Indemnification. 

 

	 	(i)	Each Party (the “Indemnifying Party”) hereby indemnifies and agrees to save, defend and hold the other Party (the “Indemnified Party”)
and its Indemnitees harmless from and against: 

  

	 	(A)	 any and all Losses incurred by any of them resulting directly or indirectly from the breach of any representation,

  
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warranty, covenant or agreement made by the Indemnifying Party under this Agreement; 

  

	 	(B)	any and all Losses incurred by any of them resulting directly or indirectly from the gross negligence, willful misconduct or Violation of Law of or by the Indemnifying
Party or its Affiliates, employees, agents, licensees or sublicensees in connection with TYSABRI Activities that occurred prior to the Closing Date; or 

  

	 	(C)	Third Party Claims and associated Losses (but, for clarity, not Losses associated with Direct Claims) incurred by any of them which Third Party Claims arise from the
gross negligence, willful misconduct or Violation of Law of or by the Indemnifying Party or its Affiliates, employees, agents, licensees or sublicensees in connection with TYSABRI Activities that occurred on or after the Closing Date and during the
Term. 

 The Indemnifying Party shall be obligated to so indemnify, save, defend and hold the Indemnified Party
and its Indemnitees harmless only to the extent that such Losses do not result from (x) the breach of any representation, warranty, covenant or agreement made by the Indemnified Party under this Agreement or (y) the gross negligence,
willful misconduct or Violation of Law of or by the Indemnified Party or its Affiliates, employees, agents, licensees or sublicensees. 
 (c) Product Liability and Third Party Infringement Claims. Any Losses incurred by either Party or any of its Indemnitees with respect to any Product Liability Claim or any Third Party Infringement
Claim shall be borne fifty percent (50%) by Elan and fifty percent (50%) by Biogen Idec, except to the extent to which a Party or such Indemnitee is entitled to be indemnified by the other Party under Section 12.1(b). 

(d) Shared Pre-Closing Losses. Any Losses (other than Losses that are the subject of Section 12.1(c))
resulting directly or indirectly from TYSABRI Activities that occurred prior to the Closing Date (“Shared Pre-Closing Losses”) shall be borne fifty percent (50%) by Elan and fifty percent (50%) by Biogen Idec, except to
the extent to which a Party and any of its Indemnitees are entitled to be indemnified by the other Party for such Losses under Section 12.1(b); provided, however, that (i) any Losses arising out of, or resulting from, the
litigation set forth on Schedule 12.1(d) shall be the sole responsibility of Biogen Idec (except to the extent such Losses result from the conduct, Violation of Law or breach of a corporate integrity agreement of or by Elan or its Affiliates,
employees, agents, licensees or sublicensees, which Losses shall be the sole responsibility of Elan), and (ii) Shared Pre-Closing Losses do not include taxes. In the event that Losses (other than Losses that are the subject of
Section 12.1(c)) result directly or indirectly from TYSABRI Activities that occurred in both the time period prior to the 

  
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Closing and the time period on or after the Closing, the Parties will discuss in good faith and attempt to agree on an appropriate allocation of such Losses to each such period based on the
relative volume or value of such TYSABRI Activities in each time period. 
 12.2. Third Party Claim Defense; Reimbursement of
Losses. 
 (a) Claims. Elan shall, to the extent permitted by law, permit Biogen Idec, at its option,
to assume direction and control of the defense of all Product Liability Claims, Third Party Infringement Claims, the Third Party Claims set forth on Schedule 12.2(a) (the “Pending Actions”), and, subject to Section 12.2(b) and
12.2(c), any other Third Party Claims covered by Section 12.1. Each Party will furnish such records, information and testimony and attend such conferences, discovery proceedings, hearings, trials or appeals as may reasonably be requested by the
other Party in connection with any such Third Party Claims. 
 (b) Indemnified Third Party Claims. Except
as otherwise provided in Section 12.2(c), in the event a Party (the “Potential Indemnified Party”) receives notice of a Third Party Claim against it that it believes may be subject to indemnification by the other Party (the
“Potential Indemnifying Party”) under Section 12.1(b), the Potential Indemnified Party shall inform the Potential Indemnifying Party as soon as reasonably practicable after it receives such notice. The Potential Indemnifying
Party shall have the right (but not the obligation), exercisable by notice to the Potential Indemnified Party within ten (10) Business Days after receipt of such notice, to assume direction and control of the defense of such Third Party Claim
(including the right to settle such Third Party Claim solely for monetary consideration) with counsel selected by the Potential Indemnifying Party and reasonably acceptable to the Potential Indemnified Party. 

If the Potential Indemnifying Party exercises such right: 
  

	 	(i)	During such time as the Potential Indemnifying Party is controlling the defense of such Third Party Claim, the Potential Indemnified Party shall cooperate, and shall
cause its Affiliates and agents to cooperate, upon request of the Potential Indemnifying Party in the defense or prosecution of the Third Party Claim, including by furnishing such records, information and testimony and attending such conferences,
discovery proceedings, hearings, trials or appeals as may reasonably be requested by the Potential Indemnifying Party; 

  

	 	(ii)	the Potential Indemnified Party shall have the right, at its own expense, to join in (including the right to conduct discovery, interview and examine witnesses and
participate in all settlement conferences), but not control the defense of such Third Party Claim; and 

  

	 	(iii)	 the Potential Indemnifying Party may settle such Third Party Claim solely for monetary consideration, but shall not, without

  
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the prior consent of the Potential Indemnified Party, enter into any compromise or settlement that commits the Potential Indemnified Party to take, or to forbear to take, any action.

 If the Potential Indemnifying Party does not exercise such right: (x) the Potential Indemnified Party may
(without further notice to the Potential Indemnifying Party) undertake the defense thereof with counsel of its choice, (y) the Potential Indemnifying Party shall have the right, at its own expense, to join in (including the right to conduct
discovery, interview and examine witnesses and participate in all settlement conferences), but not control the defense of such Third Party Claim, and (z) the Potential Indemnified Party shall not settle or compromise the Third Party Claim
without the express written consent of the Potential Indemnified Party. 
 (c) Shared Third Party Claims.
In the event that either Party receives notice of a Product Liability Claim, Third Party Infringement Claim or other Third Party Claim for which the Losses are to be shared by the Parties pursuant to Section 12.1, such Party shall inform the
other Party as soon as reasonably practicable after it receives such notice. The Parties shall confer on how to respond to such Third Party Claim and how to handle the Third Party Claim in an efficient manner. The Parties shall confer on how to
respond to such Third Party Claim, and Biogen Idec shall have the right to (but not the obligation to), and shall inform Elan of whether it shall, assume direction and control of the defense of such Third Party Claim. 

(d) Reimbursement of Losses. Each Party shall promptly reimburse the other Party for its portion of any Losses it
is obligated to bear or pay pursuant to Section 12.1 within thirty (30) days after receipt from such other Party of a request for and reasonable documentation of such Losses. 

(e) Settlements. Neither Party shall enter into any compromise or settlement of any Third Party Claim that commits
the other Party to take, or to forbear to take, any action. 
 12.3. Survival of Representations and Warranties.

 (a) Except as provided in Section 12.3(b), all representations and warranties contained in this Agreement
shall survive the Closing until the date that is twenty-four (24) months from the Closing Date, and shall then expire and be of no force or effect. 
 (b) The representations and warranties contained in the Specified Sections, Section 7.1(b)(i), Section 7.2(gg), Section 7.2(hh), Section 7.3(c), Section 7.3(d) and
Section 7.3(e) shall survive the Closing until the thirtieth (30th) day following (i) the expiration of the applicable statute of limitations (taking into account any tolling periods and other extensions) or (ii) if there is no
applicable statute of limitations, the date that is six (6) years after the Closing Date. 

  
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 12.4. Offset Rights. 

(a) Third Party Claims. Biogen Idec may, in its sole discretion and from time to time, offset against any
Contingent Payments due to Elan an amount equal to all or a portion of any Losses relating to a Third Party Claim that Biogen Idec determines reasonably and in good faith are owed by Elan to Biogen Idec pursuant to this Section 12 (each such
amount, a “Third Party Claim Offset Amount”), subject to all of the following terms and conditions: 
  

	 	(i)	Elan has failed to pay or reimburse Biogen Idec such Losses within thirty (30) days after Elan’s receipt of a request for and reasonable documentation of such
Losses pursuant to Section 12.2(d), which request shall serve as notice of Biogen Idec’s intent to offset if Elan fails to pay or reimburse Biogen Idec such Losses within thirty (30) days. 

 

	 	(ii)	Biogen Idec has notified Elan in writing of the offset and the Third Party Claim Offset Amount, whether in the request delivered pursuant to Section 12.4(a)(i) or
otherwise. 

  

	 	(iii)	In the event Biogen Idec subsequently agrees or it is subsequently determined (pursuant to an Action in court) that any portion of such Losses was not owed by Elan to
Biogen Idec, Biogen Idec shall reimburse Elan, within thirty (30) days of such agreement or determination, the portion of the corresponding Third Party Claim Offset Amount owed to Elan, together with simple interest calculated from the date the
Contingent Payment against which such portion was offset was otherwise due, at the rate of LIBOR plus 125 basis points. For purposes of this Agreement, “LIBOR” shall mean, on any date, the rate determined and published for such date
by the British Bankers Association as one-month LIBOR. 

 (b) Direct Claims. If Biogen Idec
makes a reasonable, good faith determination (which shall be supported by reasonable documentation) that Losses relating to a Direct Claim are owed by Elan to Biogen Idec pursuant to this Section 12, Biogen Idec may, from time to time, offset
against any Contingent Payments due to Elan an amount (a “Direct Claim Offset Amount”) equal to all or any portion of any such Losses, subject to all of the following terms and conditions: 

 

	 	(i)	 If the Direct Claim Offset Amount relating to any Direct Claim equals or exceeds seventy-five million dollars ($75,000,000), such determination by
Biogen Idec (which shall be supported by reasonable documentation) shall be made by the Chief Executive Officer and Chief Financial Officer of Biogen Idec Inc., and Biogen Idec shall have delivered to Elan evidence of such determination,
provided that Elan, its directors, officers, 

  
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employees, shareholders, creditors and any Person claiming through them, and the successor and assigns of each such parties and Persons, shall not have any legal or equitable right, remedy or
claim against the Chief Executive Officer or Chief Financial Officer of Biogen Idec, or any other employees of Biogen Idec, with respect to such determination. 

 

	 	(ii)	Either a Rating Trigger or a Material Breach Trigger has occurred and is continuing on the date on which Biogen Idec offsets such Direct Claim Offset Amount. For
purposes of this Agreement: (x) “Rating Trigger” shall mean either the long-term credit rating of Elan Corporation, plc is lower than Ba3 (as reported by Moody’s Investor Service, Inc.) or lower than B+ (as reported by
Standard & Poor’s Ratings Group), or Elan Corporation, plc is not, on such date, rated by both Moody’s Investor Service, Inc. and Standard & Poor’s Ratings Group, and (y) “Material Breach
Trigger” shall mean a material breach of this Agreement by Elan which breach is not cured within sixty (60) days of written notice thereof from Biogen Idec. For purposes of this Agreement, any breach of Section 8.5 or
Section 11 by Elan shall be deemed to be a material breach of this Agreement. 

  

	 	(iii)	Elan has failed to pay or reimburse Biogen Idec such Losses within thirty (30) days after Elan’s receipt of a request for and reasonable documentation of such
Losses pursuant to Section 12.2(d), which request shall serve as notice of Biogen Idec’s intent to offset if Elan fails to pay or reimburse Biogen Idec such Losses within thirty (30) days. 

 

	 	(iv)	Biogen Idec has notified Elan in writing of the offset and the Direct Claim Offset Amount, whether in the request delivered pursuant to Section 12.4(b)(iii) or
otherwise. 

  

	 	(v)	In the event Biogen Idec subsequently agrees or it is subsequently determined (pursuant to an Action in court) that any portion of such Losses was not owed by Elan to
Biogen Idec, Biogen Idec shall reimburse Elan, within thirty (30) days of such agreement or determination, the portion of the corresponding Direct Claim Offset Amount owed to Elan, together with simple interest calculated from the date the
Contingent Payment against which such portion was offset was otherwise due, at the rate of LIBOR plus 125 basis points. 

  

	 	(vi)	 “Direct Claim” shall mean a claim by a Party or any of its Affiliates against the other Party or any of its Affiliates, or any other
obligation or liability of a Party or any of its Affiliates to 

  
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pay or reimburse the other Party or any of its Affiliates, in each case not relating to a Third Party Claim. 

(c) Relationship to Other Provisions of Agreement. The provisions of this Section 12.4 are not intended to
limit or otherwise modify (i) Elan’s obligations to directly reimburse or pay to Biogen Idec any Losses when due under this Section 12 or (ii) any right of Biogen Idec to offset or reduce, or deduct any amount from, Contingent
Payments that is expressly set forth in any other provision of this Agreement. 
 12.5. Insurance. During the Term, Elan
and Biogen Idec shall each procure and maintain, at its own cost, the following insurance coverages to cover its indemnification obligations under Section 12, and its other obligations under this Agreement (to the extent that such obligations
are insurable): 
 (a) Commercial general liability insurance and contractual liability (including coverage for
advertising and personal injury), which policy shall have a limit of no less than five million dollars ($5,000,000) for each occurrence. 
 (b) Product liability and completed operations coverage (maintained for a period of at least five (5) years after the termination of the Agreement), which policy shall have a limit of no less than
seventy-five million dollars ($75,000,000) each occurrence. Notwithstanding the foregoing, Biogen Idec may self-insure to the extent that it self-insures for its other products. 

(c) Where required by law, foreign local coverages in an amount that, at a minimum, satisfies the legal requirements of
that jurisdiction. 
 All policies under (a), (b) and (c) above shall be written by insurance companies with an A.M. Best’s
rating of A:VIII or higher and provide that coverage under such policy shall not be suspended, voided, canceled, non-renewed, reduced in scope or limits below five million dollars ($5,000,000), except after thirty (30) days written notice has
been given to the other Party. Each Party shall name the other Party as an additional insured under such coverages and shall provide to the other Party a copy of the corresponding certificate of insurance reflecting such coverages. 

12.6. Exemplary or Punitive Damages; Disclaimer. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NONE OF THE PARTIES HERETO SHALL
ASSERT, AND EACH OF THE PARTIES HERETO HEREBY WAIVES, ANY CLAIM AGAINST ANY OTHER PARTY HERETO, ON ANY THEORY OF LIABILITY, FOR CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, PUNITIVE OR SPECIAL DAMAGES (INCLUDING DAMAGES FOR LOSS OF BUSINESS, LOSS
OF PROFITS OR LOSS OF USE) ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF, THIS AGREEMENT OR ANY INDEMNIFICATION CLAIM, EXCEPT TO THE EXTENT PAYABLE TO A THIRD PARTY. EACH PARTY HEREBY EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY THAT
THE DEVELOPMENT, MANUFACTURE AND COMMERCIALIZATION OF TYSABRI PURSUANT TO THIS AGREEMENT WILL BE SUCCESSFUL OR THAT ANY PARTICULAR SALES LEVEL WITH RESPECT TO TYSABRI WILL BE ACHIEVED. 

  
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	13.	Termination. 

13.1. Pre-Closing Termination. This Agreement may be terminated and the Transactions may be abandoned at any time prior to the
Closing: 
 (a) upon giving of notice by Biogen Idec pursuant to Section 2.6; 

(b) by mutual written consent of Biogen Idec and Elan; 

(c) by either Party if a final nonappealable Governmental Order permanently enjoining or otherwise prohibiting the
Transactions has been issued by a governmental authority of competent jurisdiction; or 
 (d) by either Party if
the Closing has not occurred on or before December 31, 2013, which date may be extended from time to time by mutual written consent of the Parties. 
 If (i) Biogen Idec terminates this Agreement pursuant to Section 13.1(a) by exercising its right to terminate under Section 2.6(a)(i) or Section 2.6(a)(ii), (ii) Elan or Biogen
Idec terminates this Agreement pursuant to Section 13.1(c) because a Merger Control Legislation Authority has issued a final nonappealable Governmental Order permanently enjoining or otherwise prohibiting the Transactions, or (iii) Elan or
Biogen Idec terminates this Agreement pursuant to Section 13.1(d) and the Clearance Date has not occurred prior to such termination, then, pursuant to the letter agreement dated as of the Execution Date between Elan Pharma International Limited
and BIMA, the Collaboration Agreement shall be automatically amended, without any further action by Elan, Biogen Idec or BIMA, to delete Section 1.14, Section 14.7 and Section 14.8 of the Collaboration Agreement in their entirety.

 13.2. Post-Closing Termination. This Agreement may be terminated at any time after the Closing by mutual written
consent of Biogen Idec and Elan. If this Agreement is terminated pursuant to this Section 13.2, the following Sections shall survive such termination, as well as any other Sections or defined terms referred to in such Sections or necessary to
give such Sections effect: Section 3.11(a), Section 3.11(d), Section 3.11(e), Section 3.11(h), Sections 4.2 through 4.5 (with respect to payments accrued during the Term), Section 8.7, Section 9.6, Section 12
(other than Section 12.5), this Section 13.2, Section 13.3, Section 16 and Section 17. Furthermore, any other provisions required to interpret the Parties’ rights and obligations under this Agreement shall survive to
the extent required. 
 13.3. Effects of Termination. Any termination of this Agreement shall not relieve the Parties of
any obligation accruing before such termination and shall be without prejudice to the rights of either Party against the other accrued or accruing under this Agreement before termination, including the obligation to make and right to receive
payments with respect to TYSABRI sold before such termination. 

  
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 13.4. Remedies for Breach. In the event of a breach of this Agreement by either
Party after the Closing, the other Party shall not be entitled to terminate this Agreement on the basis of such breach but shall be entitled to any other remedies available to it at law or in equity and all its other rights and remedies under this
Agreement, including under Section 12 and Section 17.8, in each case, based on such breach. 
  

	14.	Assignment. 

 14.1.
Assignment by Biogen. Except as specifically permitted under this Section 14.1, neither this Agreement nor any right or obligation hereunder may be assigned or delegated, in whole or part, by Biogen Idec or any of its Affiliates that are
bound by this Agreement without the prior express written consent of Elan. 
 (a) Biogen Idec or any of its
Affiliates that are bound by this Agreement may assign any of its rights, or delegate any of its obligations, under this Agreement (including the right to receive Regulatory Materials and Transferred Assets), in whole or in part, without the consent
of Elan, to any of its Affiliates. 
 (b) Biogen Idec or any Affiliate of Biogen Idec that is bound by this
Agreement may, subject to Section 4.9 and effective upon the consummation of (i) a TYSABRI Transaction with a Third Party Transferee pursuant to Section 4.9(c) or (ii) an Alternative TYSABRI Transaction with a Third Party
pursuant to Section 4.9(e), assign any of its rights, or delegate any of its obligations, under this Agreement, without the consent of Elan, to such Third Party Transferee or Third Party, as applicable, to the extent such rights or obligations
apply with respect to the TYSABRI Rights that are the subject of such TYSABRI Transaction or Alternative TYSABRI Transaction, as applicable, or with respect to sales of TYSABRI by such Third Party Transferee or Third Party, as applicable.

 (c) Biogen Idec and any Affiliate of Biogen Idec that is bound by this Agreement may assign this Agreement and
its rights and obligations hereunder, without the consent of Elan, to any Third Party effective upon the consummation of any transaction pursuant to or as a result of which (x) all TYSABRI Rights, including all rights and interests in all
Transfer Agreements and Alternative Transfer Agreements and all contracts and agreements with Distributors, to the extent that such contracts and agreements with Distributors relate to TYSABRI, and (y) all rights and interests in any and all
Standard Distribution Transactions, including all contracts and agreements with Third Parties that are party to such Standard Distribution Transactions, to the extent that such contracts and agreements with such Third Parties relate to TYSABRI, in
each case, then owned, possessed or controlled by Biogen Idec and its Affiliates in Territory are assigned (by operation of law or otherwise), sold, transferred or otherwise disposed of to such Third Party; provided, however, that, at
or prior to the consummation of such transaction, and as a condition thereto, such Third Party shall have assumed by operation of law or expressly in a written instrument delivered to Elan all of the obligations of Biogen and each such Affiliate, if
any, under this Agreement. For the sake of clarity, (i) any such transaction shall not be subject to Section 4.9, even if Biogen Idec or any of its Affiliates retains the right to manufacture and supply TYSABRI to such Third Party and

  
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(ii) if, after consummation of a transaction with a Third Party as described in this Section 14.1(c), Biogen Idec or any of its Affiliates manufactures and supplies TYSABRI to such Third
Party, Biogen Idec or such Affiliate shall have no obligation to share any portion of amounts received by Biogen Idec or such Affiliate from such Third Party for such manufacture and supply of TYSABRI. 

Any purported assignment by Biogen Idec that is not in accordance with this Section 14.1 shall be void. 

14.2. Assignment by Elan. Except as specifically permitted under Section 14.2(a) or Section 14.2(b), neither this
Agreement nor any right or obligation hereunder may be assigned or delegated, in whole or part, by Elan without the prior express written consent of Biogen Idec. Any purported assignment by Elan that is not in accordance with this Section 14.2
shall be void. 
 (a) Elan may assign this Agreement and its rights and obligations hereunder after the Closing
without the consent of Biogen Idec to (i) any of its Affiliates or (ii) to a Third Party that acquires all or substantially all of the business or assets of Elan, whether by merger, reorganization, acquisition, sale or otherwise,
provided that Elan shall deliver to Biogen Idec the notice and information required under Section 4.4(c)(iii)(A) in accordance with the timeframes set forth therein. 

(b) Elan may pledge, mortgage, assign, charge, transfer or declare a trust or otherwise grant security over or engage in
any financing, monetization or securitization transaction involving all or any part of its rights to receive the Contingent Payments, and delegate any of its obligations hereunder related thereto, to a Third Party without the consent of Biogen Idec,
provided that: 
  

	 	(i)	such assignee must execute an assignment and assumption agreement with Elan and Biogen Idec in a form to be mutually agreed upon by the Parties prior to Closing;

  

	 	(ii)	Elan shall remain obligated to comply with all of its obligations under this Agreement except to the extent any such obligations are delegated to and assumed by such
Third Party assignee pursuant to the assignment and assumption agreement in a form to be mutually agreed upon by the Parties prior to Closing; 

  

	 	(iii)	Elan or its permitted assignees shall deliver to Biogen Idec the notice and information required under Section 4.4(c)(iii)(A) in accordance with the timeframes set
forth therein; 

  

	 	(iv)	Biogen Idec shall be under no obligation to reaffirm any representations, warranties or covenants made in this Agreement or take any other action in connection with any
such assignment by Elan; and 

  
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	 	(v)	Elan shall provide Biogen Idec with a copy of the relevant assignment agreement within thirty (30) days after execution thereof. 

Biogen Idec shall, at Elan’s expense, cooperate and provide reasonable assistance to Elan in connection with any assignment by Elan
pursuant to Section 14.2(b). Such cooperation shall include the execution and delivery of such assignments, agreements and other instruments and documents (including amendments hereto) as may be reasonably requested by Elan in order to transfer
the right to receive the Contingent Payments and the reporting, information and audit rights hereunder directly to a Third Party. 
  

	15.	[Intentionally Omitted]. 

  

	16.	Notices. 

 All notices hereunder
shall be in writing and shall be deemed given if delivered personally or by facsimile transmission (receipt verified), telexed, mailed by registered or certified mail (return receipt requested), postage prepaid, or sent by express courier service,
to the Parties at the following addresses (or at such other address for a Party as shall be specified by like notice, provided that notices of a change of address shall be effective only upon receipt thereof): 

If to Biogen Idec: 
 Biogen Idec International Holding Ltd. 
 c/o Appleby LLP 

Canon’s Court 
 22 Victoria Street 
 Hamilton HM EX 

Bermuda 

Attention: Tonesan Amissah 
 Fax:            (441) 298-3336 
 with a copy to: 
 Executive Vice President and General Counsel 

133 Boston Post Road 
 Weston, MA 02493 
 Telephone: (781) 464-2000 

Fax:            (866) 546-2758 

  
 88 

 If to Elan: 
 Elan Pharma International Limited 
 Treasury Building 

Lower Grand Canal Street 
 Dublin 2, Ireland 
 Attention: William F. Daniel 

                 Company Secretary 

Fax:            +353 1 704 4700 

with a copy to: 

Cadwalader, Wickersham & Taft LLP 
 One World Financial Center 
 New York, NY 10281 

Attention: Christopher Cox 
 Telephone: (212) 504-6888 
 Fax:
           (212) 504-6666 
 with a copy to: 

A&L Goodbody Solicitors 
 25/28 International Financial Services Centre 
 North Wall Quay 

Dublin 1, Ireland 

Attention: John Given 
                  Alan Casey 
 Telephone: +353 1 649 2000 
 Fax:
           + 353 1 649 2649 
  

	17.	Miscellaneous. 

17.1. Entire Agreement. This Agreement sets forth the entire agreement and understanding between the Parties as to the subject
matter hereof and supersedes all agreements or understandings, verbal or written, made between the Parties before the Execution Date with respect to the subject matter hereof. 
 17.2. [Intentionally Omitted]. 
 17.3. Effect of Waiver or Consent.
No waiver or consent, express or implied, by any Party of or to any breach or default by any other Party in the performance by such other Party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other
breach or default in the performance by such other Party of the same or any other obligations of such other Party hereunder. No single or partial exercise of any right or power, or any abandonment or discontinuance of steps to enforce any right or
power, shall preclude any other or further exercise of any right or power under this Agreement or the exercise of any other 

  
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right or power. Failure on the part of a Party to complain of any act of any other Party or to declare any other Party in default, irrespective of how long such failure continues, shall not
constitute a waiver by such Party of its rights hereunder until after the applicable statute of limitation period has run. 

17.4. Severability. Should any provision of this Agreement or the application of this Agreement to any Person or circumstance be
held invalid or unenforceable to any extent: (a) such provision shall be ineffective to the extent, and only to the extent, of such unenforceability or invalidity and shall be enforced to the greatest extent permitted by law; (b) such
unenforceability or invalidity in any jurisdiction shall not invalidate or render unenforceable such provision as applied (i) to other Persons or circumstances or (ii) in any other jurisdiction; and (c) such unenforceability or
invalidity shall not affect or invalidate any other provision of this Agreement. 
 17.5. Amendment. Neither this
Agreement nor any of the terms of this Agreement may be terminated, amended, supplemented or modified orally, and may only be terminated, amended, supplemented or modified by an instrument in writing signed by each of the Parties, provided
that the observance of any provision of this Agreement may be waived in writing by the Party that shall lose the benefit of such provision as a result of such waiver. 
 17.6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to principles of conflict of laws. 

17.7. Venue; Jurisdiction. In the event of any controversy, claim or counterclaim arising out of or relating to this Agreement,
such controversy or claim shall be resolved by the United States District Court for the Southern District of New York or a local court sitting in New York, New York (collectively, the “Courts”). Each Party (a) irrevocably
submits to the exclusive jurisdiction in the Courts for purposes of any action, suit or other proceeding relating to or arising out of this Agreement and (b) agrees not to raise any objection at any time to the laying or maintaining of the
venue of any such action, suit or proceeding in any of the Courts, irrevocably waives any claim that such action, suit or other proceeding has been brought in an inconvenient forum and further irrevocably waives the right to object, with respect to
such action, suit or other proceeding, that such Court does not have any jurisdiction over such party. 
 17.8. Specific
Performance. 
 (a) Each Party shall be entitled to seek an injunction, specific performance and other
equitable relief or remedy to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof. The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. Accordingly, the Parties agree that, in addition to any other remedies, each Party shall be entitled to enforce the terms of this Agreement by a decree of specific
performance or injunction without the necessity of proving the inadequacy of money damages as a remedy. Each Party hereby waives any requirement for the securing or posting of any bond in connection with such remedy. Each Party further agrees that
the only permitted objection 

  
 90 

 
that it may raise in response to any action for equitable relief is that it contests the existence of a breach or threatened breach of this Agreement. For the avoidance of doubt, the Parties
acknowledge and agree that the injunction, specific performance and other equitable relief and remedy contemplated by this Section 17.8(a) includes (as appropriate) both mandatory and prohibitory forms of relief and remedy. 

(b) With respect to any action, suit, or proceeding seeking the injunction, specific performance and other equitable
relief and remedy contemplated by Section (a), each Party irrevocably and unconditionally agrees on behalf of itself and its Affiliates as follows: (i) to submit to the exclusive jurisdiction and venue of the United States District Court for
the Southern District of New York, and any appellate court thereof; (ii) that a final unappealable judgment in any such action, suit, or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law; (iii) to waive and not to assert by way of motion, as a defense, or otherwise in any such suit, action, or proceeding, any claim that it is not personally subject to the jurisdiction of such courts, that the suit,
action, or proceeding is brought is an inconvenient forum, that the venue of the suit, action, or proceeding is improper, or that the related documents or the subject matter thereof may not be litigated in or by such courts; and (iv) to not
seek and to waive the right to any review of the judgment of any such court by any court of any other nation or jurisdiction that might be called upon to grant an enforcement of such judgment. 

17.9. [Intentionally Omitted]. 
 17.10. Independent Contractors. Both Parties are independent contractors under this Agreement. Nothing contained herein shall be deemed to create an employment, agency, joint venture or partnership
relationship between the Parties or any of their agents or employees, or any other legal arrangement that would impose liability upon one Party for the act or failure to act of the other Party. Neither Party shall have any express or implied power
to enter into any contracts or commitments, or to incur any liabilities, in the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever. 

17.11. Parties in Interest; Limitation on Rights of Others. The terms of this Agreement shall be binding upon, and inure to the
benefit of, the Parties and their respective legal representatives, successors and assigns. Nothing in this Agreement, whether express or implied, shall be construed to give any Person (other than the Parties hereto and their respective successors
and assigns) any legal or equitable right, remedy or claim under, or in respect of, this Agreement or any covenants, conditions or provisions contained herein, as a third party beneficiary or otherwise. 

17.12. Interpretation. As used in this Agreement, the terms “include”, “includes” and “including”
are not limiting and mean include, includes and including, without limitation. All headings are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement. References in this Agreement to an
“Article”, “Section”, “Exhibit” or “Schedule” refer to an Article or Section of, or any Exhibit or Schedule to, this Agreement unless otherwise indicated. 

  
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 17.13. Expenses. All fees and expenses incurred in connection with this Agreement
and the Transactions shall be paid by the Party incurring such expenses unless specifically stated otherwise in this Agreement. 

17.14. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed as original, but
all of which together shall constitute one instrument. 
 [Signature Pages Follow] 

 

  
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 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed in the
manner appropriate for each, and to be dated as of the date first above-written. 
  

			
	BIOGEN IDEC INTERNATIONAL HOLDING LTD.
		
	By:	 	 /s/ GEORGE A. SCANGOS

		
	Name:	 	George A. Scangos
		
	Title:	 	Director
	
	ELAN PHARMA INTERNATIONAL LIMITED
		
	By:	 	 /s/ WILLIAM F. DANIEL

		
	Name:	 	William F. Daniel
		
	Title:	 	Director
	
	ELAN PHARMACEUTICALS, INC.
		
	By:	 	 /s/ G. KELLY MARTIN

		
	Name:	 	G. Kelly Martin
		
	Title:	 	Authorized Signatory

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