Document:

Exclusive License Agreement

			
	 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the
 information subject to the confidentiality request. Omissions are designated as [*]. A complete version of this
 exhibit has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the
 Securities Exchange Act, as amended.
	  	Exhibit 10.10

  
  
  
  
  
  
  
 EXCLUSIVE 
 LICENSE AGREEMENT 
  

 
  
  
 Between 
  
 THE REGENTS OF THE 
 UNIVERSITY OF CALIFORNIA 
  
 And 
  
 MEDIVATION, INC. 
 and 
 MEDIVATION PROSTATE THERAPEUTICS, INC. 
  
  
  
  
 “Preparation and Activity of Novel Prostate Cancer Drugs” 
 (UC Case No. 2004-129) 
 and 
 “Groups 1 and 2: Preparation and Activity of 
 Novel Prostate Cancer Drugs”

 (UC Case No. 2005-438) 
  

 1 

 LICENSE AGREEMENT 
 TABLE OF CONTENTS 
  

			
	 ARTICLE

	  	PAGE NUMBER

	 RECITALS
	  	3
		
	   1. DEFINITIONS
	  	4
	   2. GRANT
	  	6
	   3. SUBLICENSES
	  	6
	   4. FEES
	  	7
	   5. ROYALTIES
	  	9
	   6. DILIGENCE
	  	10
	   7. PATENT FILING, PROSECUTION AND MAINTENANCE
	  	11
	   8. PATENT INFRINGEMENT
	  	12
	   9. PROGRESS AND ROYALTY REPORTS
	  	13
	 10. BOOKS AND RECORDS
	  	14
	 11. LIFE OF THE AGREEMENT
	  	14
	 12. TERMINATION BY THE REGENTS
	  	14
	 13. TERMINATION BY LICENSEE
	  	15
	 14. DISPOSITION OF LICENSED PRODUCTS ON HAND UPON TERMINATION
	  	15
	 15. PATENT MARKING
	  	15
	 16. USE OF NAMES AND TRADEMARKS
	  	15
	 17. LIMITED WARRANTY
	  	15
	 18. INDEMNIFICATION
	  	16
	 19. NOTICES
	  	18
	 20. ASSIGNABILITY
	  	18
	 21. LATE PAYMENTS
	  	18
	 22. WAIVER
	  	19
	 23. FAILURE TO PERFORM
	  	19
	 24. GOVERNING LAWS
	  	19
	 25. GOVERNMENT APPROVAL OR REGISTRATION
	  	19
	 26. EXPORT CONTROL LAWS
	  	19
	 27. PREFERENCE FOR UNITED STATES INDUSTRY
	  	19
	 28. FORCE MAJEURE
	  	19
	 29. CONFIDENTIALITY
	  	20
	 30. HHMI THIRD-PARTY BENEFICIARY STATUS
	  	21
	 31. MISCELLANEOUS
	  	21
	 APPENDIX A
	  	22

  

 2 

 EXCLUSIVE LICENSE AGREEMENT 
  
 This Agreement is made and is effective this 12th day of August 2005, (the “Effective Date”) between THE REGENTS OF THE
UNIVERSITY OF CALIFORNIA (“The Regents”), a California corporation having its corporate offices located at 1111 Franklin Street, Oakland, California 94607-5200, acting through its offices located at 10920 Wilshire Blvd, Suite 1200, Los
Angeles, California 90024-1406, and MEDIVATION, INC. (“Medivation”), a Delaware corporation, and MEDIVATION PROSTATE THERAPEUTICS, INC. (“MPT”) (Medivation and MPT together “Licensee”), a Delaware
corporation and wholly-owned subsidiary of Medivation, each having a principal place of business at 501 Second Street, Suite 211, San Francisco, CA 94107. 
  
 RECITALS 
  
 WHEREAS, certain inventions (the “Inventions”), generally characterized as “Preparation and Activity of Novel Prostate Cancer Drugs” (UC Case No. 2004-129) and “Groups 1 and 2:
Preparation and Activity of Novel Prostate Cancer Drugs” (UC Case No. 2005-438), was made in the course of research at the University of California, Los Angeles by Michael E. Jung, Samedy Ouk, Charlie D. Chen and Derek Welsbie, employee(s)
of The Regents, and Charles L. Sawyers, an employee of the Howard Hughes Medical Institute (“HHMI”) and member of the faculty of the University of California, Los Angeles, and is claimed in Regents’ Patent Rights as defined below;

  
 WHEREAS, each of Michael E. Jung, Samedy Ouk, Charlie D. Chen and Derek
Welsbie, as employees of The Regents, is obligated to assign their right, title and interest in and to the Invention to The Regents; 
  
 WHEREAS, HHMI assigned its rights in the Invention to The Regents under the terms of the interinstitutional agreement with HHMI having UC Control No. 1986-18-0017
(“HHMI Interinstitutional Agreement”), and accordingly, The Regents has the authority to license the entire interest in the Invention and any patent rights claiming it; 
  
 WHEREAS, under the terms of the HHMI Interinstitutional Agreement, HHMI has reserved nonexclusive, paid-up, royalty-free, irrevocable
licenses, with no right to sublicense others, to make and use the Invention for research purposes; 
  
 WHEREAS, the Invention was developed with United States Government funds, and The Regents has elected title thereto and granted a royalty-free nonexclusive license to the United States Government on August 10,
2005, as required under 35 U.S.C. §201-212; 
  
 WHEREAS, Licensee and The
Regents entered into a secrecy agreement effective April 12, 2005 and expiring on April 11, 2010 (“Secrecy Agreement”) to allow Licensee to evaluate its interest in the Inventions and, as a result of its evaluation, Licensee
wishes to obtain certain rights from The Regents; 
  
 WHEREAS, Medivation and The
Regents entered into a Letter Agreement effective July 1, 2005 in which The Regents agreed to negotiate exclusively with Medivation for a license to certain rights in the Inventions; 
  

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 WHEREAS, Licensee is a “small business concern” as defined in 15 U.S.C.
§632; and 
  
 WHEREAS, The Regents wishes that Regents’ Patent Rights be
developed and utilized to the fullest extent so that the benefits can be enjoyed by the general public. 
  
 The parties agree as follows: 
  
 1. DEFINITIONS 
  

	1.1	“Regents’ Patent Rights” means The Regents interest in the claims of the United States patents and patent applications, corresponding foreign patents and
patent applications (requested under Paragraph 7.3 herein), and any reissues, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those claims in the continuation-in-part applications that are
entirely supported in the specification and entitled to the priority date of the parent application) based on the patent applications listed in Appendix A (UC Case Nos. 2004-129 and 2005-438). 

  

	1.2	“Licensed Product” means any article, composition, apparatus, substance, chemical, or any other material covered by the claims of Regents’ Patent Rights or
whose manufacture, use or sale would constitute an infringement of any claim within Regents’ Patent Rights, or any service, article, composition, apparatus, chemical, substance, or any other material made, used, or sold by or utilizing or
practicing a Licensed Method. This definition of Licensed Product also includes a service either used by Licensee, an Affiliate, or sublicensee or provided by Licensee, an Affiliate or sublicensee to its customers when such service requires the use
of Licensed Product or performance of Licensed Method. Additionally, for the avoidance of doubt, if such product is a component of a larger unit such as a kit, composition of matter or combination, such kit, composition of matter or combination is
deemed to be the Licensed Product for purposes of this definition. 

  

	1.3	“Licensed Method” means any process or method which is covered by the claims of Regents’ Patent Rights or whose use or practice would constitute an
infringement of any claim within Regents’ Patent Rights. 

  

	1.4	The “Field of Use” means the treatment or prevention of disease using the compositions of matter with the chemical structures identified in Regents’ Patent
Rights; provided, however, that The Regents will retain the right to provide such compounds included within the subject technology to third parties for commercial research use only as positive controls in drug discovery assays.

  

	1.5	“Affiliate” means any corporation or other business entity in which Licensee owns or controls, directly or indirectly, at least 50% of the outstanding stock or
other voting rights entitled to elect directors. In any country where the local law does not permit foreign equity participation of at least 50%, then “Affiliate” means any company in which Licensee owns or controls, directly or
indirectly, the maximum percentage of outstanding stock or voting rights that is permitted by local law. 

  

	1.6	“First Commercial Sale” means the first sale of any Licensed Product by Licensee or any Affiliate or Sublicensee, following approval of its marketing by the
appropriate governmental agency for the country in which the sale is to be made. When governmental approval is not required, “First Commercial Sale” means the first sale in that country. 

  

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	1.7	“Final Sale” means any sale, transfer, lease, exchange or other disposition or provision of a Licensed Product and/or a Licensed Method to a Customer. A Final
Sale shall be deemed to have occurred upon the earliest to occur of the following (as applicable): (a) the transfer of title to such Licensed Product and/or Licensed Method to a Customer, (b) the shipment of such Licensed Product to a
Customer, (c) the provision of a Licensed Method to a Customer, (d) the provision of an invoice for such Licensed Product or Licensed Method to a Customer, or (e) payment by the Customer for Licensed Products or Licensed Methods.

  

	1.8	“Net Sales” means the total of the gross amount invoiced or otherwise charged (whether consisting of cash or any other forms of consideration) for the Final Sale of
Licensed Products or Licensed Methods by Licensee, or by any Affiliate, Joint Venture or Sublicensee to Customers, less the following deductions (to the extent included in and not already deducted from the gross amount invoiced or otherwise charged)
to the extent reasonable and customary: cash, trade or quantity discounts actually granted to Customers; sales, use, tariff, import/export duties or other excise taxes imposed on particular sales (excepting value added taxes or income taxes);
transportation charges, including insurance to the extent actually paid by the Customer; and allowances or credits to Customers because of rejections or returns. Where Licensee or any Affiliate, Joint Venture or Sublicensee is the Customer,
then Net Sales shall be based on the gross amount normally invoiced or otherwise charged to other Customers in an arms length transaction for such Licensed Products or Licensed Methods. For the avoidance of doubt, if Licensee or any Affiliate,
Joint Venture or Sublicensee supplies (directly or indirectly) a product that constitutes a Licensed Product to any Affiliate, Joint Venture or Sublicensee and such Affiliate, Joint Venture or Sublicensee includes such product in another product,
then Net Sales shall be based on the total gross amount invoiced or otherwise charged for such other product in its entirety. 

  

	1.9	“Sublicensee” means any third party sublicensed by Licensee to make, have made, use, sell, offer for sale or import any Licensed Product or to practice any Licensed
Method. 

  

	1.10	“Sublicensing Income” means income received by Licensee under or on account of Sublicenses. Sublicensing Income includes income received including but not limited
to license issue fees, milestone payments, and the like but specifically excludes royalties on the sale or distribution of Licensed Products or the practice of Licensed Methods. If Licensee accepts noncash consideration from its sublicensee, then,
at the option of The Regents, Licensee will compensate The Regents with the cash equivalent of such noncash consideration. Not included in the definition of Sublicensing Income is income received by Licensee as payment or reimbursement for research
costs conducted by or for Licensee, including costs associated with materials, equipment or clinical testing. 

  

	1.11	“Customer” means any individual or entity that receives Licensed Products or Licensed Methods, provided however, that Licensee or any Affiliate, Joint Venture or
Sublicensee shall be deemed a Customer only if it receives Licensed Products or Licensed Services for its own end-use and not resale. 

  

	1.12	“Sublicense” means any transaction (a) in which the Licensee grants to any third party a license to make, have made, use, sell, offer for sale or import any
Licensed Product or to practice any Licensed Method, and (b) which is not a Licensee Liquidity Transaction. 

  

	1.13	 “Licensee Liquidity Transaction” means (a) the sale of all or substantially all of the business or assets of MPT, whether by merger,
consolidation, asset acquisition, stock acquisition, or otherwise, (b) any corporate partnership, joint venture or other such transaction between MPT and one or more non-Affiliate third parties which has as its purpose the research, development

  

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and/or commercialization of one or more Licensed Products or Licensed Methods, and pursuant to which MPT retains significant ongoing financial and/or
operational responsibility for such research, development and/or commercialization, (c) the initial public offering of MPT’s common stock, or (d) the receipt of marketing approval for a Licensed Product in either the US or in the
major EU countries (UK, FR, IT, GE, SP). 

  

	1.14	“Licensee” means both Medivation, Inc. and Medivation Prostate Therapeutics, Inc., both of which shall be responsible for all obligations and duties under this
Agreement. 

  
 2. GRANT 
  

	2.1	Subject to the limitations set forth in this Agreement, including the licenses granted to the United States Government and those reserved by HHMI set forth in the recitals and in
Paragraph 2.2 and the rights reserved by The Regents in Paragraph 2.3, The Regents hereby grants to Licensee an exclusive license (the “License”) under Regents’ Patent Rights, in jurisdictions where Regents’ Patent Rights exist,
to make, have made, use, sell, offer for sale and import Licensed Products and to practice Licensed Methods in the Field of Use to the extent permitted by law. 

  

	2.2    2.2a	The License is subject to all the applicable provisions of any license to the United States Government executed by The Regents and is subject to any overriding obligations to the
United States Federal Government under 35 U.S.C. §200-212 and applicable governmental implementing regulations and the obligation to report on the utilization of the Invention set forth in 37 CFR §401.14(h). Moreover, the Licenses granted
to Licensee hereunder also are subject to the National Institutes of Health “Principles and Guidelines for Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources” set forth in 64F.R.
72090 (Dec. 23, 1999). 

  

	 	2.2b	The License granted hereunder is also subject to the paid-up, non-exclusive, irrevocable licenses reserved by HHMI to make and use the Invention for its research purposes. Such
licenses reserved by HHMI specified in the recitals and the immediately prior sentence do not include the right to sublicense others. Moreover, the Licenses granted to Licensee hereunder also are subject to HHMI’s statement of policy on
research tools. Note: HHMI’s policy can be found at www.hhmi.org/about/ogc/policies.html. 

  

	2.3	The Regents expressly reserves the right to use Regents’ Patent Rights and associated technology for educational, research and clinical purposes including publication of
research results and sharing research results with other non-profit institutions, and allowing other non-profit research institutions to use Regents’ Patent Rights and associated technology for the same purpose. 

  
 3. SUBLICENSES 
  

	3.1	The Regents also grants to Licensee the right to issue exclusive or nonexclusive sublicenses to third parties to make, have made, use sell, offer for sale or import Licensed
Products and to practice Licensed Methods in any jurisdiction in which Licensee has exclusive rights under this Agreement (“Sublicenses”). All Sublicenses will include all of the rights of, and will require the performance of all the
obligations due to, The Regents and HHMI (and, if applicable, the United States Government) under this Agreement other than those rights and obligations specified in Article 4 (Fees), Paragraph 5.2 (minimum annual royalties), and Paragraphs 7.1 and
7.2 (reimbursement of patent costs). 

  

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	3.2	Licensee must pay to The Regents (a) [*] of
all Sublicensing Income from all Sublicenses granted prior to the filing of the first U.S. IND covering a Licensed Product; (b) [*] of all Sublicensing Income from all Sublicenses granted after the filing of the first U.S. IND but prior to the
first patient dosed in a Phase III study; and (c) [*] of all Sublicensing Income from all Sublicenses granted thereafter. If, as part of the same or a related transaction in which Licensee sublicenses Regents’ Patent Rights to a third
party, Licensee also licenses other patent rights to such third party, Licensee and The Regents shall make a good faith determination in apportioning the value of Sublicensing Income as to the total consideration received from such third party.

  

	3.3	On Net Sales of Licensed Products sold or disposed of by a Sublicensee, Licensee must pay to The Regents an earned royalty in accordance with Article 5 (Royalties) as if these were
Licensee’s Net Sales. Any royalties received by Licensee in excess of royalties due to The Regents under this Paragraph 3.3 belong to Licensee. 

  

	3.4	Licensee must provide to The Regents a copy of each Sublicense within 30 days of execution, and a copy of all information submitted to Licensee by Sublicensees relevant to the
computation of the payments due to The Regents under this Article 3. 

  

	3.5	If this Agreement is terminated for any reason, all outstanding Sublicenses, not in default, will be assigned by Licensee to The Regents, at the option of The Regents. The
Sublicenses will remain in full force and effect with The Regents as the licensor or sublicensor instead of Licensee, but the duties of The Regents under the assigned Sublicenses will not be greater than the duties of The Regents under this
Agreement, and the rights of The Regents under the assigned Sublicenses will not be less than the rights of The Regents under this Agreement, including all financial consideration and other rights of The Regents. Moreover, The Regents will have the
sole right to modify each such assigned Sublicense to include all of the rights of The Regents and HHMI (and, if applicable, the United States Government). 

  
 4. FEES 
  

	4.1	In partial consideration for the License, Licensee will pay to The Regents a license issue fee of fifteen thousand dollars ($15,000) within thirty (30) days of the Effective
Date. This fee is nonrefundable and is not an advance against royalties. 

  

	4.2      4.2a	Within thirty (30) days of the Effective Date, Licensee will grant to The Regents options to purchase 150,000 shares of Common Stock of Licensee. All options issued to The
Regents will be fully vested upon issuance, at no cost to The Regents, and become exercisable immediately prior to the closing of the first Licensee Liquidity Transaction. 

  

	 	4.2b	The Regents’ acceptance of equity is contingent upon receiving approval from the University of California Office of the President, and if such approval is not granted, the
parties will negotiate an alternate form of financial consideration in lieu of the equity component due The Regents. 

  

	 	4.2c	Licensee’s shareholder purchase agreement, stock restriction agreement, or derivatives thereof, shall contain language that permits The Regents to distribute, under The
Regents’ 

  

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions. 

  

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Patent Policy, a share of the options to its inventors of Regents Patent Rights licensed hereunder. 

  

	 	4.2d	Licensee will be responsible for funding all costs associated with the development and commercialization of Regents’ Patent Rights, to the extent licensed hereunder, including
without limitation all patent prosecution and maintenance costs. Medivation will provide capital contributions to MPT to finance such costs, and will be entitled to receive one share of MPT’s Common Stock for each one dollar ($1.00) of capital
contributions made to MPT. Capital contributions may include both direct infusions of cash from Medivation to MPT, and reasonable allocations to MPT of Medivation’s costs. 

  

	 	4.2e	The parties acknowledge that Medivation’s business strategy is to operate as a publicly-traded holding company, with multiple operating subsidiaries. As such, Medivation will
be entitled to allocate all of its costs to its various operating subsidiaries, including MPT. All costs directly attributable to activities performed on behalf of a specific operating subsidiary, such as patent prosecution, maintenance and
enforcement costs, compound manufacturing costs, preclinical and clinical testing costs, etc., will be allocated exclusively to the applicable subsidiary. All other costs, including management, facilities, insurance, compliance, etc., will be
allocated to Medivation’s operating subsidiaries, including MPT, equally or on any other basis Medivation deems to be fair in its reasonable discretion. 

  

	 	4.2f	Medivation will maintain complete and accurate financial records of its and MPT’s operations, including capital contributions from Medivation and allocations of
Medivation’s costs, and these records will be open to review by The Regents and its professional advisers on commercially reasonable terms, subject to the confidentiality provisions of Article 29 (Confidentiality). 

  

	4.3	For each Licensed Product reaching the milestones indicated below, Licensee must make the following payments to The Regents within 30 days of reaching the milestones:

  

	 	4.3a	$[*] upon dosing of first patient in first Phase
I study of a Licensed Product; $[*] upon dosing of first patient in each subsequent Phase I study of a Licensed Product with a different active pharmaceutical ingredient; maximum total milestones under 4.3a of $[*]; 

  

	 	4.3b	$[*] upon dosing of first patient in first Phase II efficacy study of a Licensed Product; $[*] upon dosing of first patient in each subsequent Phase II efficacy study of a Licensed
Product with a different active pharmaceutical ingredient; maximum total milestones under 4.3b of $[*]. 

  

	 	4.3c	$[*] upon dosing of first patient in first Phase III pivotal study of a Licensed Product; $[*] upon dosing of first patient in each subsequent Phase III efficacy study of a Licensed
Product with a different active pharmaceutical ingredient; maximum total milestones under 4.3c of $[*]. 

  

	 	4.3d	$[*] upon receipt of approval to market a Licensed Product in the U.S. or in the major EU countries (UK, FR, IT, GE, SP); $[*] upon receipt of approval to market each subsequent

  

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions. 

  

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Licensed Product with a different active pharmaceutical ingredient in the U.S. or in the major EU countries; maximum total milestones under 4.3d of
$[*]. 

  

	 	4.3e	The Regents may elect, at their sole option, to receive in the form of additional options, in lieu of cash, any milestone payments earned prior to closing of the first Licensee
Liquidity Transaction (as defined in Paragraph 4.2a). If The Regents elect to take any such milestone payment(s) in the form of options, the options will be fully vested upon issuance, at no cost to The Regents, become exercisable immediately prior
to the closing of the first Licensee Liquidity Transaction, and will be valued at the lesser of $1.00 per share or the share price at the last closed round of financing of MPT. Milestone payments earned after the closing of the first Licensee
Liquidity Transaction will be payable solely in cash. 

  

	4.4	Licensee must pay to The Regents a license maintenance fee of five thousand dollars ($5,000) beginning on the one-year anniversary date of the Effective Date of this Agreement and
continuing annually on each anniversary date of the Effective Date. The maintenance fee will not be due and payable on any anniversary date of the Effective Date if on that date Licensee is commercially selling a Licensed Product and paying an
earned royalty to The Regents on the sales of that Licensed Product. The license maintenance fees are non-refundable and are not an advance against royalties. 

  
 5. ROYALTIES 
  

	5.1	Licensee must pay to The Regents for sales by Licensee or its Affiliates an earned royalty of [*] of Licensed Products or Licensed Methods. 

  

	5.2	Licensee must pay to The Regents a minimum annual royalty of [*] for the life of Regents’ Patent Rights, beginning in the year of the First Commercial Sale of Licensed Product.
Licensee must pay the minimum annual royalty to The Regents by February 28 of each year. The minimum annual royalty will be credited against the earned royalty due and owing for the calendar year in which the minimum payment was made.

  

	5.3	Paragraphs 1.1, 1.2, 1.3 and 1.4 define Regents’ Patent Rights, Licensed Product, Licensed Method and the Field of Use so that royalties are payable on products covered by
pending patent applications and issued patents. Royalties accrue for the duration of this Agreement. 

  

	5.4	Licensee must pay royalties owed to The Regents on a quarterly basis. Licensee must pay the royalties within two months of the end of the calendar quarter in which the royalties
accrued. 

  

	5.5	All monies due The Regents must be paid in United States funds. When Licensed Products are sold for monies other than United States dollars, the royalties will first be determined
in the foreign currency of the country in which those Licensed Products were sold and, second, converted into equivalent United States funds. Licensee must use the exchange rate established by the Bank of America in San Francisco, California on the
last day of the calendar quarter. 

  

	5.6	Any tax for the account of The Regents required to be withheld by Licensee under the laws of any foreign country must be promptly paid by Licensee for and on behalf of The Regents
to the 

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions. 

  

 9 

	 	 
appropriate governmental authority. Licensee will use its best efforts to furnish The Regents with proof of payment of any tax. Licensee is responsible for
all bank transfer charges. All payments made by Licensee in fulfillment of The Regents’ tax liability in any particular country will be credited against fees or royalties due The Regents for that country. 

  

	5.7	If at any time legal restrictions prevent the acquisition or prompt remittance of United States Dollars by Licensee with respect to any country where a Licensed Product is sold, the
Licensee shall pay royalties due to The Regents from Licensee’s other sources of United States Dollars. 

  

	5.8	If any patent or any claim included in Regents’ Patent Rights is held invalid or unenforceable in a final decision by a court of competent jurisdiction from which no appeal has
or can be taken, all obligation to pay royalties based on that patent or claim or any claim patentably indistinct from it will cease as of the date of that final decision. Licensee will not, however, be relieved from paying any royalties that
accrued before that decision or that is based on another patent or claim not involved in that decision. 

  

	5.9	No royalties will be collected or paid on Licensed Products sold to the United States Federal Government, or any agency of the United States Government. The Licensee and its
Sublicensee will reduce the amount charged for Licensed Products distributed to the United States Government by the amount of the royalty. 

  
 6. DILIGENCE 
  

	6.1	Upon the execution of this Agreement, Licensee must diligently proceed with the development, manufacture and sale (“Commercialization”) of Licensed Products and must
earnestly and diligently endeavor to market them within a reasonable time after execution of this Agreement and in quantities sufficient to meet the market demands for them. 

  

	6.2	Licensee must endeavor to obtain all necessary governmental approvals for the Commercialization of Licensed Products. 

  

	6.3	Subject to Licensee’s rights under Paragraph 6.6, The Regents has the right and option to either terminate this Agreement or reduce Licensee’s exclusive license to a
nonexclusive license if Licensee fails to perform any of the terms in this Paragraph 6.3. This right, if exercised by The Regents, supersedes the rights granted in Article 2 (Grant). 

  

	 	6.3a	First U.S. Investigational New Drug (IND) covering a Licensed Product to be filed by the second (2nd) anniversary of the date of this Agreement; 

  

	 	6.3b	First patient to be dosed in a Phase I study of a Licensed Product by the third (3rd) anniversary of the date of this Agreement; 

  

	 	6.3c	First patient to be dosed in a Phase II study of a Licensed Product by the fourth (4th) anniversary of the date of this Agreement; 

  

	 	6.3d	First application to market a Licensed Product to be filed in the U.S. or EU by the seventh (7th) anniversary of the date of this Agreement; and 

  

	 	6.3e	First Commercial Sale of a Licensed Product by the ninth (9th) anniversary of the date of this Agreement. 

  

 10 

	6.4	Licensee has the sole discretion for making all decisions as to how to commercialize any Licensed Product. 

  

	6.5	As further evidence of its due diligence in Commercialization of Licensed Products, Licensee represents and warrants that it has cash of at least one million dollars ($1,000,000),
and Licensee further agrees that it will spend no less than five hundred thousand dollars ($500,000) per year on the Commercialization of Licensed Products. If Licensee breaches this Paragraph 6.5, and subject to Licensee’s rights under
Paragraph 6.6, The Regents has the right and option to either terminate this Agreement or reduce Licensee’s exclusive license to a nonexclusive license. This right, if exercised by The Regents, supersedes the rights granted in Article 2
(Grant). 

  

	6.6	In the event that The Regents wishes to exercise its right to terminate this Agreement, or to reduce Licensee’s exclusive license to a nonexclusive licence, pursuant to
Paragraph 6.3 or Paragraph 6.5 above, then in any such case The Regents will deliver to Licensee a written notice of the action The Regents wishes to take and the basis therefor (a “Termination Notice”). Upon receipt of any Termination
Notice, and for a period of sixty (60) days thereafter, Licensee shall have a one-time right to suspend the action proposed to be taken by The Regents in the Termination Notice for a period of one (1) year by payment to The Regents of one
hundred thousand dollars ($100,000) in cash. If Licensee has not made payment to The Regents by the end of such sixty (60) day period, then the action specified in the Termination Notice shall take effect on such sixtieth (60th) day. If Licensee makes the payment, then (a) each milestone date in Paragraph 6.3 shall be extended by one
(1) year, and (b) Licensee shall have an additional year to bring itself into compliance with the spending requirements in Paragraph 6.5. 

  
 7. PATENT FILING, PROSECUTION AND MAINTENANCE 
  

	7.1	As long as Licensee is current in reimbursing patent prosecution costs, The Regents will file, prosecute and maintain the patents and applications comprising Regents’ Patent
Rights. These patents will be held in the name of The Regents and will be obtained with counsel of The Regents’ choice. The Regents must provide Licensee with copies of each patent application, office action, response to office action, request
for terminal disclaimer, and request for reissue or reexamination of any patent or patent application under Regents’ Patent Rights. The Regents will consider any comments or suggestions by Licensee. The Regents is entitled to take action to
preserve rights or minimize costs whether or not Licensee has commented. 

  

	7.2	Licensee will bear all costs incurred prior to and during the term of this Agreement in the preparation, filing, prosecution and maintenance of patent applications and patents in
Regents’ Patent Rights. Prosecution includes interferences, oppositions and any other inter partes matters originating in a patent office. Licensee must send payment to The Regents within 30 days of Licensee’s receipt of an invoice.

  

	7.3	Licensee has the right to request patent protection on the Invention in foreign countries if the rights are available. Licensee must notify The Regents of its decision within eight
months of the filing of the corresponding United States patent application. This notice must be in writing and must identify the countries desired. The absence of this notice from Licensee to The Regents will be considered an election not to secure
foreign rights. 

  

	7.4	 Eight months after the filing of the corresponding United States application, but not sooner, The Regents will have the right to file patent applications at its own
expense in any country which 

  

 11 

	 	 
Licensee has not identified in written notice provided by 7.3. These applications and resulting patents will not be subject to this Agreement.

  

	7.5	Licensee’s obligation to underwrite and to pay all United States and foreign patent costs will continue for as long as this Agreement remains in effect. Licensee may terminate
its obligations with respect to any given patent application or patent upon three months written notice to The Regents. The Regents will use its best efforts to curtail patent costs chargeable to Licensee under this Agreement after this notice is
received from Licensee. The Regents may continue prosecution or maintenance of these application(s) or patent(s) at its sole discretion and expense, and Licensee will have no further rights or licenses to them. 

  

	7.6	The Regents will use its best efforts to not allow any Regents’ Patent Rights for which Licensee is licensed and is underwriting the costs of to lapse or become abandoned
without Licensee’s authorization or reasonable notice, except for the filing of continuations, divisionals, or the like which substitute for the lapsed application. 

  
 8. PATENT INFRINGEMENT 
  

	8.1	In the event that The Regents (to the extent of the actual knowledge of the licensing professional responsible for the administration of this Agreement) or the Licensee learns of
infringement of potential commercial significance of any patent licensed under this Agreement, the knowledgeable party will provide the other (i) with written notice of such infringement and (ii) with any evidence of such infringement
available to it (the “Infringement Notice”). During the period in which, and in the jurisdiction where, the Licensee has exclusive rights under this Agreement, neither The Regents nor the Licensee will notify a third party (including the
infringer) of infringement or put such third party on notice of the existence of any Patent Rights without first obtaining consent of the other. If the Licensee puts such infringer on notice of the existence of any Patent Rights with respect to such
infringement without first obtaining the written consent of The Regents and if a declaratory judgement action is filed by such infringer against The Regents, then Licensee’s right to initiate a suit against such infringer for infringement under
Paragraph 8.2 below will terminate immediately without the obligation of The Regents to provide notice to the Licensee. Both The Regents and the Licensee will use their diligent efforts to cooperate with each other to terminate such infringement
without litigation. 

  

	8.2	If infringing activity of potential commercial significance by the infringer has not been abated within ninety (90) days following the date the Infringement Notice takes
effect, then the Licensee may institute suit for patent infringement against the infringer. The Regents may voluntarily join such suit at its own expense, but may not thereafter commence suit against the infringer for the acts of infringement that
are the subject of the Licensee’s suit or any judgment rendered in the suit. The Licensee may not join The Regents in a suit initiated by Licensee without The Regents’ prior written consent. If, in a suit initiated by the Licensee, The
Regents is involuntarily joined other than by the Licensee, then the Licensee will pay any costs incurred by The Regents arising out of such suit, including but not limited to, any legal fees of counsel that The Regents selects and retains to
represent it in the suit. 

  

	8.3	 If, within a hundred and twenty (120) days following the date the Infringement Notice takes effect, infringing activity of potential commercial significance by
the infringer has not been abated and if the Licensee has not brought suit against the infringer, then The Regents may institute such suit for patent infringement against the infringer. If The Regents institutes such suit, then the Licensee may not
join such suit without The Regents consent and may not thereafter 

  

 12 

	 	commence suit against the infringer for acts of infringement that are subject to The Regents suit or any judgment rendered in that suit. 

  

	8.4	Any recovery or settlement received in connection with any suit will first be shared by The Regents and the Licensee equally to cover any litigation costs each incurred and next
shall be paid to The Regents or the Licensee to cover any litigation costs it incurred in excess of the litigation costs of the other. In any suit initiated by the Licensee, any recovery in excess of litigation costs will be shared between Licensee
and The Regents as follows: (a) for any recovery other than amounts paid for willful infringement, The Regents will receive [*] of the recovery; and (b) for any recovery for willful infringement, The Regents will receive [*] of the recovery. In any suit initiated by The Regents, any recovery in excess of litigation costs will belong to The Regents. The
Regents and the Licensee agree to be bound by all determinations of patent infringement, validity and enforceability (but no other issue) resolved by any adjudicated judgment in a suit brought in compliance with this Article 8 (Patent Infringement).

  

	8.5	Any agreement made by the Licensee for purposes of settling litigation or other dispute shall comply with the requirements of Article 3 (Sublicenses) of this Agreement.

  

	8.6	Each party will cooperate with the other in litigation proceedings instituted hereunder but at the expense of the party who initiated the suit (unless such suit is being jointly
prosecuted by the parties). 

  

	8.7	Any litigation proceedings will be controlled by the party bringing the suit, except that The Regents may be represented by counsel of its choice in any suit brought by the
Licensee. 

  
 9. PROGRESS AND ROYALTY REPORTS

  

	9.1	Beginning January 31, 2006, Licensee must submit to The Regents semiannual progress reports covering Licensee’s activities related to the development and testing of all
Licensed Products and the obtaining of the governmental approvals necessary for marketing. These progress reports must be made for each Licensed Product until its First Commercial Sale. 

  

	9.2	The progress reports submitted under Paragraph 9.1 must include the following topics: 

  

	 	9.2a	Summary of work completed. 

  

	 	9.2b	Key scientific discoveries. 

  

	 	9.2c	Summary of work in progress. 

  

	 	9.2d	Current schedule of anticipated events or milestones. 

  

	 	9.2e	Market plans for introduction of Licensed Products. 

  

	 	9.2f	A summary of resources (dollar value) spent in the reporting period. 

  

	9.3.	Licensee must notify The Regents if Licensee or any of its Sublicensees or Affiliates ceases to be a small entity (as defined by the United States Patent and Trademark Office) under
the provisions of 35 U.S.C. §41(h). 

  

	9.4	Licensee must report the date of the First Commercial Sale in the royalty report immediately following that Sale. 

  

	 	[*]Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to
the omitted portions. 

  

 13 

	9.5	After the First Commercial Sale of each Licensed Product, Licensee must make quarterly royalty reports to The Regents by February 28, May 31, August 31 and
November 30 of each year (i.e., within two months from the end of each calendar quarter). Each royalty report must cover Licensee’s most recently completed calendar quarter and must show: 

  

	 	9.5a	Gross sales and Net Sales of any Licensed Product. 

  

	 	9.5b	Number of each type of Licensed Product sold. 

  

	 	9.5c	Royalties payable to The Regents. 

  

	9.6	Licensee must state in its royalty report if it had no sales of any Licensed Product. 

  
 10. BOOKS AND RECORDS 
  

	10.1	Licensee must keep accurate books and records of all Licensed Products manufactured, used or sold. Licensee must preserve these books and records for at least five years from the
date of the royalty payment to which they pertain. 

  

	10.2	The Regents’ representatives or agents are entitled to inspect these books and records at reasonable times. The Regents will pay the fees and expenses of these inspections. If
an error favoring Licensee of more than 5% of the total annual royalties is discovered, then Licensee will pay the fees and expenses of these inspections. 

  
 11. LIFE OF THE AGREEMENT 
  

	11.1	Unless otherwise terminated by operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement is in force from the Effective Date recited
on page one and remains in effect for the life of the last-to-expire patent in Regents’ Patent Rights, or until the last patent application licensed under this Agreement is abandoned and no patent in Regents’ Patent Rights ever issues.

  

	11.2	Upon termination of this Agreement, Licensee will have no further right to make, have made, use or sell any Licensed Product except as provided in Article 14 (Disposition of
Licensed Products on Hand Upon Termination). 

  

	11.3	Any expiration or termination of this Agreement will not affect the rights and obligations set forth in the following Articles: 

  

	 	Article	  1 Definitions 

  

	 	Article	  4 Fees (Paragraph 4.1 only — license issue fee) 

  

	 	Article	  5 Royalties (except Paragraph 5.2) 

  

	 	Article	  7 Patent Filing, Prosecution and Maintenance (Paragraphs 7.2 and 7.5 only) 

  

	 	Article	 10 Books and Records 

  

	 	Article	 11 Life of the Agreement 

  

	 	Article	 14 Disposition of Licensed Products on Hand upon Termination 

  

	 	Article	 16 Use of Names and Trademarks 

  

	 	Article	 17 Limited Warranty 

  

	 	Article	 18 Indemnification 

  

	 	Article	 19 Notices 

  

	 	Article	 21 Late Payments 

  

	 	Article	 23 Failure to Perform 

  

 14 

	 	Article	 24 Governing Law 

  

	 	Article	 29 Confidentiality 

  

	 	Article	 30 HHMI Third Party Beneficiary Status 

  
 12. TERMINATION BY THE REGENTS 
  

	12.1	If Licensee violates or fails to perform any material term or covenant of this Agreement, then The Regents may give written notice of the default (“Notice of Default”) to
Licensee. If Licensee does not repair the default within 60 days after the effective date of the Notice of Default, then The Regents has the right to terminate this Agreement and the License by a second written notice (“Notice of
Termination”) to Licensee. If The Regents sends a Notice of Termination to Licensee, then this Agreement automatically terminates on the effective date of this notice. Termination does not relieve Licensee of its obligation to pay any royalty
or fees owing at the time of termination and does not impair any accrued right of The Regents. 

  
 13. TERMINATION BY LICENSEE 
  

	13.1	Licensee has the right at any time to terminate this Agreement in whole or with respect to any portion of Regents’ Patent Rights by giving written notice to The Regents. This
notice of termination will be subject to Article 19 (Notices) and will be effective 90 days after the effective date of the notice. 

  

	13.2	Any termination in accordance with Paragraph 13.1 does not relieve Licensee of any obligation or liability accrued prior to termination. Nor does termination rescind anything done
by Licensee or any payments made to The Regents prior to the effective date of termination. Termination does not affect in any manner any rights of The Regents arising under this Agreement prior to termination. 

  
 14. DISPOSITION OF LICENSED PRODUCTS ON HAND UPON TERMINATION

  

	14.1	Upon termination of this Agreement, Licensee will have the right to dispose of all previously made or partially made Licensed Products, but no more, within a period of six months.
But Licensee must submit royalty reports on the sale of these Licensed Products and must pay royalties at the rate and at the time provided in this Agreement. 

  
 15. PATENT MARKING 
  

	15.1	Licensee must mark all Licensed Products made, used or sold under the terms of this Agreement, or their containers, in accordance with the applicable patent marking laws.

  
 16. USE OF NAMES AND TRADEMARKS

  

	16.1	Neither party is permitted to use any name, trade name, trademark or other designation of the other party or its employees (including contraction, abbreviation or simulation of any
of the foregoing) in advertising, publicity or other promotional activity. Unless required by law, Licensee is expressly prohibited from using the name “The Regents of the University of California” or the name of any campus of the
University of California. 

  

 15 

	16.2	Licensee may not use the name of HHMI or of any HHMI employee (including Dr. Charles L. Sawyers) in a manner that reasonably could constitute an endorsement of a
commercial product or service; but that use for other purposes, even if commercially motivated, is permitted provided that (a) the use is limited to accurately reporting factual events or occurrences, and (b) any reference to the name of
HHMI or any HHMI employees in press releases or similar materials intended for public release is approved by HHMI in advance. 

  
 17. LIMITED WARRANTY 
  

	17.1	The Regents warrants that it has the lawful right to grant this license to Licensee. 

  

	17.2	This License and the associated Invention are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. THE REGENTS
MAKE NO REPRESENTATION OR WARRANTY THAT ANY LICENSED PRODUCT WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

  

	17.3	IN NO EVENT WILL THE REGENTS BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTION OR LICENSED PRODUCTS
OR THE USE OR THE PRACTICE OF LICENSED METHODS. 

  

	17.4	Nothing in this Agreement will be construed as: 

  

	 	17.4a	A warranty or representation by The Regents as to the validity or scope of any Regents’ Patent Rights. 

  

	 	17.4b	A warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or will be free from infringement of patents of
third parties. 

  

	 	17.4c	An obligation on The Regents to bring or prosecute actions or suits against third parties for patent infringement except as provided in Article 8 (Patent Infringement).

  

	 	17.4d	Conferring by implication, estoppel or otherwise any license or rights under any patents of The Regents other than Regents’ Patent Rights as defined herein, regardless of
whether such patents are dominant or subordinate to Regents’ Patent Rights. 

  

	 	17.4e	An obligation on The Regents to furnish any know-how not provided in Regents’ Patent Rights. 

  
 18. INDEMNIFICATION 
  

	18.1	 Licensee will, and will require its Sublicensees to, indemnify, hold harmless, and defend The Regents, the sponsors of the research that led to the Invention, and
the inventors of any invention claimed in patents or patent applications under Regents’ Patent Rights (including the Licensed Products and Licensed Methods contemplated hereunder) and their employers, and the officers, employees, and agents of
any of the foregoing, against any and all claims, suits, losses, damages, costs, fees, and expenses resulting from, or arising out of, the exercise of this license or any sublicense. This indemnification will include, but will not be limited to, any
product liability. If The Regents, in its sole discretion, believes that there will be a conflict of interest or it will not 

  

 16 

	 	 
otherwise be adequately represented by counsel chosen by Licensee to defend The Regents in accordance with this Paragraph 18.1, then The Regents may retain
counsel of its choice to represent it, and Licensee will pay all expenses for such representation. 

  

	18.2	HHMI and its trustees, officers, employees, and agents (collectively, “HHMI Indemnitees”) will be indemnified, defended by counsel acceptable to HHMI, and held harmless by
Licensee and its Sublicensees from and against any claim, liability, cost, expense, damage, deficiency, loss, or obligation of any kind or nature (including, without limitation, reasonable attorneys’ fees and other costs and expenses of
defense) based on, resulting from, arising out of, or otherwise relating to this Agreement or any sublicense agreement, or the exercise of this license or any sublicense, including without limitation any cause of action relating to product liability
(collectively, “Claims”). The previous sentence will not apply to any Claim that is determined with finality by a court of competent jurisdiction to result solely from the gross negligence or willful misconduct of an HHMI Indemnitee. For
clarity, acts conducted under the retained rights and licenses set forth in Paragraph 2.2 and 2.3 above are not subject to this indemnification obligation of Licensee or any Sublicensee. If HHMI, in its sole discretion, believes that there will be a
conflict of interest or it will not otherwise be adequately represented by counsel chosen by Licensee to defend the HHMI Indemnitiees in accordance with this Paragraph 18.2, then HHMI may retain counsel of its choice to represent the HHMI
Indemnitees, and Licensee will pay all expenses for such representation. 

  

	18.3	Licensee, at its sole cost and expense, must insure its activities in connection with the work under this Agreement and obtain, keep in force and maintain the following insurance:

  

	 	18.3a	Upon execution of this Agreement, Comprehensive or Commercial Form General Liability Insurance (contractual liability included) with limits as follows: 

  

				
	 Each occurrence
	  	$	1,000,000.
	 Products/completed operations aggregate
	  	 	N/A.
	 Personal and advertising injury
	  	$	1,000,000.
	 General aggregate (commercial form only)
	  	$	2,000,000.

  
 If the above
insurance is written on a claims-made form, it shall continue for three (3) years following termination or expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of
this Agreement; and 
  

	18.3b	Prior to the first administration of a Licensed Product in humans, Comprehensive or Commercial Form General Liability Insurance (contractual liability included) with limits as
follows: 

  

				
	 Each occurrence
	  	$	5,000,000.
	 Products/completed operations aggregate
	  	$	10,000,000.
	 Personal and advertising injury
	  	$	5,000,000.
	 General aggregate (commercial form only)
	  	$	10,000,000.

  
 If the above
insurance is written on a claims-made form, it shall continue for three (3) years following termination or expiration of this Agreement; and 
  

	 	18.3b	Worker’s Compensation as legally required in the jurisdiction in which Licensee is doing business. 

  

 17 

	18.4	Licensee expressly understands, however, that the coverages and limits in Paragraphs 18.3a and 18.3b do not in any way limit Licensee’s liability under this Article. Licensee
must furnish The Regents with certificates of insurance evidencing compliance with all requirements. Licensee’s insurance must: 

  

	 	18.4a	Provide for thirty (30) days (10 days for non-payment of premium) advance written notice to The Regents of any cancellation of insurance coverages; Licensee will promptly
notify The Regents of any material modification of the insurance coverages. 

  

	 	18.4b	Indicate that The Regents of the University of California and HHMI have been endorsed as additional insureds under the coverages listed in Paragraph 18.3. 

 

	 	18.4c	Include a provision that the coverages will be primary and will not participate with, nor will be excess over, any valid and collective insurance or program of self-insurance
carried or maintained by The Regents or HHMI. 

  

	18.5	The Regents will promptly notify Licensee in writing of any claim or suit brought against The Regents for which The Regents intends to invoke the provisions of this Article 18
(Indemnification). Licensee will keep The Regents informed on a current basis of its defense of any claims pursuant to this Article 18 (Indemnification). In the case of an HHMI Indemnitee, notice shall be given reasonably promptly following actual
receipt of written notice thereof by an officer or attorney of HHMI. Notwithstanding the foregoing, the delay or failure of an HHMI Indemnitee to give prompt notice to Licensee of any Claim shall not affect the rights of such HHMI Indemnitee unless,
and then only to the extent that, such delay or failure is prejudicial to or otherwise adversely affects Licensee. Licensee will keep HHMI informed of its defense of any Claims pursuant to this Article 18 (Indemnification). 

 
 19. NOTICES 
  

	19.1	Any notice or payment required to be given to either party must be sent to the respective address given below and is effective: (a) on the date of delivery if delivered in
person, (b) five days after mailing if mailed by first-class certified mail, postage paid, or (c) on the next business day if sent by overnight delivery. Either party may change its designated address by written notice.

  
 For Licensee: 
 Medivation Prostate Therapeutics, Inc. 
 501 Second Street, Suite 211 
 San Francisco, CA 94107 
  
 Attention: Chief Financial Officer 
  
 For The Regents: 
 The Regents of the University of California 
 University of California, Los Angeles 
 Office of Intellectual Property Administration 
 10920 Wilshire Blvd., Suite 1200

 Los Angeles, California 90095-1406 
  
 Attention: Director 
  

 18 

 20. ASSIGNABILITY 
  

	20.1	This Agreement is binding upon and inures to the benefit of The Regents, its successors and assigns. But it is personal to Licensee and assignable by Licensee only with the written
consent of The Regents. The consent of The Regents will not be required if the assignment is in conjunction with the transfer of all or substantially all of the business of Licensee to which this license relates. 

  
 21. LATE PAYMENTS 
  

	21.1	For each royalty payment or fee not received by The Regents when due, Licensee must pay to The Regents a simple interest charge of 10% per annum to be calculated from the date
payment was due until it was actually received by The Regents. 

  
 22. WAIVER 
  

	22.1	The waiver of any breach of any term of this Agreement does not waive any other breach of that or any other term. 

  
 23. FAILURE TO PERFORM 
  

	23.1	If either party takes legal action against the other because of a failure of performance due under this Agreement, then the prevailing party is entitled to reasonable
attorney’s fees in addition to costs and necessary disbursements. 

  
 24. GOVERNING LAW 
  

	24.1	THIS AGREEMENT IS TO BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, but the scope and validity of any patent or patent application will be
governed by the applicable laws of the country of the patent or patent application. Any legal action brought by the parties hereto relating to this Agreement will be conducted in San Francisco, California. 

  
 25. GOVERNMENT APPROVAL OR REGISTRATION 
  

	25.1	If this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental agency, Licensee will assume all legal
obligations to do so. Licensee will notify The Regents if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. Licensee will make all necessary filings and pay all costs
including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval process. 

  
 26. EXPORT CONTROL LAWS 
  

	26.1	Licensee must observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries, including the
International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. 

  

 19 

 27. PREFERENCE FOR UNITED STATES INDUSTRY 
  

	27.1	Because this Agreement grants an exclusive right to a particular use of the Invention, Licensee must manufacture in the United States any products embodying this Invention or
produced through the Invention’s use to the extent required by 35 U.S.C. §201-212. 

  
 28. FORCE MAJEURE 
  

	28.1	The parties will be excused from any performance required under this Agreement if performance is impossible or unfeasible due to any catastrophe or other major event beyond their
reasonable control, including war, riot, or insurrection; lockouts or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events abate, and in any event within one year, the parties’ respective
obligations will resume. 

  
 29. CONFIDENTIALITY

  

	29.1	If either party discloses confidential information to the other party, the disclosing party will designate this information as confidential by appropriate legend or instruction, and
the receiving party will: 

  

	 	29.1a	Use the same degree of care to maintain the secrecy of the confidential information as it uses to maintain the secrecy of its own information of like kind. 

 

	 	29.1b	Use the confidential information only to accomplish the purposes of this Agreement. 

  
    Subject to the exclusions provided in Paragraphs 29.3 and 29.5, without limiting the generality of the
foregoing, it is acknowledged and agreed that all progress and    royalty reports delivered under Article 9 (Progress and Royalty Reports) constitute confidential information of Licensee. 
  

	29.2	Neither party will disclose confidential information received from the other party except to its Board of Directors, employees, customers, distributors and other agents who are
bound to it by similar obligations of confidence. 

  

	29.3	Neither party will have any confidentiality obligation with respect to the confidential information belonging to or disclosed by the other party that: 

  

	 	29.3a	The receiving party can demonstrate by written records was previously known to it. 

  

	 	29.3b	The receiving party lawfully obtained from sources under no obligation of confidentiality. 

  

	 	29.3c	Is or becomes publicly available other than through an act or omission of the receiving party or any of its employees. 

  

	 	29.3d	Is required to be disclosed under the California Public Records Act, governmental audit or other requirement of law. 

  

	29.4	The provisions of this Article 29 will continue in effect for five years after expiration or termination of this Agreement. 

  

 20 

	29.5	Notwithstanding anything to the contrary contained in this Agreement, The Regents may release this Agreement or any Sublicense, including any terms thereof, and information
regarding royalty payments or other income received in connection with this Agreement to the inventors, senior administrative officials employed by The Regents, and individual Regents and to the senior administrative officials employed by HHMI and
individual trustees of HHMI upon their request. If such release is made, The Regents will request that such terms be kept in confidence in accordance with the provisions of this Article 29. If a third party inquires whether a license to
Regents’ Patent Rights is available, then The Regents may disclose the existence of this Agreement and the extent of the grant in Article 2 (Grant) to such third party, but will not disclose the name of Licensee or any other terms or conditions
of this Agreement, except where The Regents is required to release information under the California Public Records Act, a governmental audit requirement, or other applicable law. 

  
 30. HHMI THIRD-PARTY BENEFICIARY STATUS 
  

	30.1	HHMI is not a party to this Agreement and has no liability to Licensee, any Sublicensee, or user of anything covered by this Agreement, but HHMI is an intended third-party
beneficiary of this Agreement and certain of its provisions are for the benefit of HHMI and are enforceable by HHMI in its own name. 

  
 31. MISCELLANEOUS 
  

	31.1	The headings of the several sections are inserted for convenience of reference only and are not intended to be a part of, or to affect the meaning or interpretation of, this
Agreement. 

  

	31.2	This Agreement is not binding upon the parties until it has been signed below on behalf of each party, in which event it becomes effective as of the date recited on page one.

  

	31.3	No amendment or modification of this Agreement will be valid or binding upon the parties unless made in writing and signed by each party. 

  

	31.4	This Agreement embodies the entire understanding of the parties and supersedes all previous communications, representations or understandings, either oral or written, between the
parties relating to the subject matter hereof, except for the Secrecy Agreement dated April 12, 2005 by and between The Regents and Licensee, which shall survive; provided, however, that in the case of any conflict between the provisions of the
Secrecy Agreement and this Agreement, this Agreement shall govern. 

  

	31.5	If any part of this Agreement is for any reason found to be unenforceable, all other parts nevertheless remain enforceable as long as a party’s rights under this Agreement are
not materially affected. In lieu of the unenforceable provision, the parties will substitute or add as part of this Agreement a provision that will be as similar as possible in economic and business objectives as was intended by the unenforceable
provision. 

  

 21 

 Both The Regents and Licensee have executed this Agreement in duplicate originals by their authorized officers on the
dates written below: 
  
  

									
	MEDIVATION, INC.	 	 	 	 THE REGENTS OF THE UNIVERSITY
 OF CALIFORNIA

					
	By:	  	 /S/    C. PATRICK
MACHADO
	 	 	 	By:	  	 /S/    CLAIRE T.
WAKE

					
	Name:	  	C. Patrick Machado	 	 	 	Name:	  	Claire T. Wake
	Title:	  	Senior Vice President and CFO	 	 	 	Title:	  	Assistant Director
	Date:	  	August 12, 2005	 	 	 	Date:	  	 August 15, 2005

  

			
	MEDIVATION PROSTATE THERAPEUTICS, INC.
		
	By:	  	 /S/    C. PATRICK
MACHADO

		
	Name:	  	C. Patrick Machado
	Title:	  	Senior Vice President and CFO
	Date:	  	 August 12, 2005

  

 22Form of 5.35% Senior Notes

 Exhibit 4.1 
  

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Trust (as
defined below) or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment
is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
Cede & Co., has an interest herein. 
  

			
	REGISTERED	  	PRINCIPAL AMOUNT: $100,000,000
	No.: 2	  	 

  
 CUSIP
NUMBER: 939653 AG6 
  
 WASHINGTON REAL ESTATE INVESTMENT TRUST

 5.35% SENIOR NOTE DUE MAY 1, 2015 
  
 WASHINGTON REAL ESTATE INVESTMENT TRUST, a Maryland real estate investment trust (hereinafter called the “Trust,” which term shall include any
successor trust or corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, upon presentation, the principal sum of ONE HUNDRED MILLION DOLLARS ($100,000,000)
on May 1, 2015, and to pay interest on the outstanding principal amount thereon from April 26, 2005, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on May 1
and November 1 in each year, commencing November 1, 2005, at the rate of 5.35% per annum, until the entire principal amount hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided
for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest which shall be
15 calendar days (whether or not a Business Day) next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may either
be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Notes of this series not more than 15 days and not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. Payment of the principal of, Make Whole Amount, if any, on, and interest on this Note will be made at the office or agency of
the Trust maintained for that purpose in the City of New York, State of New York, or elsewhere as provided in the Indenture, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that at the option of the Trust payment of interest may be made by (i) check mailed to the address of the Person entitled thereto 

 
as such address shall appear in the Security Register kept for the Notes pursuant to Section 305 of the Indenture (the “Note Register”) or
(ii) transfer to an account of the Person entitled thereto located inside the United States. 
  
 This Note is one of a duly authorized issue of securities of the Trust (herein called the “Notes”), issued and to be issued in one or more
series under an Indenture, dated as of August 1, 1996 (herein called the “Indenture”), between the Trust and J.P. Morgan Trust Company, National Association (successor to The First National Bank of Chicago) (herein called the
“Trustee,” which term includes any successor trustee under the Indenture with respect to the Notes), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Trust, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated as the “5.35%
Senior Notes due May 1, 2015”, limited in aggregate principal amount to $150,000,000. 
  
 The Notes may be redeemed at any time at the option of the Trust, in whole or in part, upon notice of not more than 60 nor less than 30 days prior to the
Redemption Date, at a redemption price equal to the sum of (i) the principal amount of the Notes being redeemed plus accrued interest thereon to the Redemption Date and (ii) the Make-Whole Amount, if any, with respect to such Notes.

  
 The following definitions apply with respect to any redemption
or accelerated payment of the Notes: 
  
 “Make-Whole Amount” means, in connection with any optional redemption or accelerated payment of any Notes, the excess, if any, of (a) the aggregate present value as of the date of such redemption or accelerated payment of
each dollar of principal being redeemed or paid and the amount of interest (exclusive of interest accrued to the date of redemption or accelerated payment) that would have been payable in respect of each such dollar if such redemption or accelerated
payment had not been made, determined by discounting, on a semi-annual basis, such principal and interest at the Reinvestment Rate (determined on the third Business Day preceding the date such notice of redemption is given or declaration of
acceleration is made) from the respective dates on which such principal and interest would have been payable if such redemption or accelerated payment had not been made, over (b) the aggregate principal amount of the Notes being redeemed or
paid. 
  
 “Reinvestment Rate” means
0.20% plus the arithmetic mean of the yields under the heading “Week Ending” published in the most recent Statistical Release under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month)
corresponding to the remaining life to maturity of the Note, as of the payment date of the principal of the Notes being redeemed or paid. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely
corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to
the nearest month. For the purposes of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used. 
  

 -2- 

 “Statistical Release” means the statistical release designated
“H.15(519)” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on actively traded United States government securities adjusted to constant maturities, or, if such statistical
release is not published at the time of any determination of the Make-Whole Amount, then such other reasonably comparable index which shall be designated by the Trust. 
  
 The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of the Trust on this Note
and (b) certain restrictive covenants and the related defaults and Events of Default applicable to the Trust, in each case, upon compliance by the Trust with certain conditions set forth in the Indenture, which provisions apply to this Note.

  
 If an Event of Default with respect to the Notes of this
series shall occur and be continuing, the principal of, and the Make-Whole Amount, if any, on, the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 As provided in and subject to the provisions of the Indenture, the Holder of
this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity and the Trustee shall not have received from the Holders of a majority in principal amount of the Notes of this series at the time Outstanding a
direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this
Note for the enforcement of any payment of principal hereof or any interest on or after the respective due dates expressed herein. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Trust
and the rights of the Holders of the Notes under the Indenture at any time by the Trust and the Trustee with the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes. The Indenture also contains provisions
permitting the Holders of specified percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Trust with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
  
 No reference herein to the Indenture and no provision of this Note or of the Indenture 

  

 -3- 

 
shall alter or impair the obligation of the Trust, which is absolute and unconditional, to pay the principal of, Make-Whole Amount, if any, on, and interest
on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Note Register, upon surrender of this Note for registration of transfer at the office
or agency of the Trust in any Place of Payment where the principal of, Make-Whole Amount, if any, on, and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trust and
the Security Registrar for the Notes (the “Note Registrar”) duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or transferees. 
  
 The Notes of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set
forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or
exchange, but the Trust may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Note for registration of transfer, the Trust, the Trustee and any agent of the Trust or the Trustee may treat the Person
in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Trust, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The obligations of the Trust under the Indenture and this Note and all
documents delivered in the name of the Trust in connection herewith and therewith do not and shall not constitute personal obligations of the trustees, officers, employees, agents or shareholders of the Trust or any of them, and shall not involve
any claim against or personal liability on the part of any of them, and all persons including the Trustee shall look solely to the assets of the Trust for the payment of any claim thereunder or for the performance thereof and shall not seek recourse
against such trustees, officers, employees, agents or shareholders of the Trust or any of them or any of their personal assets for such satisfaction. The performance of the obligations of the Trust under the Indenture and this Note and all documents
delivered in the name of the Trust in connection therewith shall not be deemed a waiver of any rights or powers of the Trust, trustees or shareholders under the Trust’s Declaration of Trust. 
  
 All terms used in this Note which are defined in the Indenture shall have the
meanings assigned to them in the Indenture. 
  

 -4- 

 THE INDENTURE AND THE NOTES, INCLUDING THIS NOTE, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAW OF THE STATE OF NEW YORK. 
  
 Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Trust has caused “CUSIP” numbers to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the correctness or
accuracy of such CUSIP numbers as printed on the Notes, and reliance may be placed only on the other identification numbers printed hereon. 
  
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this Note shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Trust has caused this instrument to be duly executed this October 6, 2005. 
  

			
	WASHINGTON REAL ESTATE INVESTMENT TRUST
		
	 By:
	 	  

	Name:	 	Edmund B. Cronin, Jr.
	Title:	 	Chairman, President and Chief Executive Officer

  
 Attest: 
  

			
	By:	 	  

	Name:	 	Laura M. Franklin
	Title:	 	Corporate Secretary

  

 -5- 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 
  
 This is one of the Notes of the series designated “5.35% Senior Notes due May 1,
2015” pursuant to the within-mentioned Indenture. 
  
 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION 
 as Trustee 
  

			
	By:	 	  

	Authorized Signatory

  

 -6- 

 ASSIGNMENT FORM 
  
 FOR VALUE RECEIVED, the undersigned hereby 
 sells, assigns and transfers unto 
  
 PLEASE INSERT SOCIAL 
 SECURITY OR OTHER IDENTIFYING ___________________________________ 
 NUMBER OF ASSIGNEE

  
 _________________________________________________________________________________________________________________ 
 (Please Print or
Typewrite Name and Address, including Zip Code, of Assignee) 
  
 the within Note
of Washington Real Investment Trust and
                                     hereby does irrevocably
constitute and appoint 
  
 _________________________________________________________________________________________________________________ 
 Attorney to transfer said Note on the books of the within-named Trust with full power of substitution in the premises. 
  

	Dated:                                  	

  
 Signature: ____________________________________________________ 
  
 NOTICE: The signature to this assignment must correspond with the name as it appears on the first page of the within Note in every
particular, without alteration or enlargement or any change whatever. 
  
 Signature Guaranteed: ____________________________________________________ 
  
 NOTICE: Signatures) must be guaranteed by an “eligible guarantor institution” that is a member or participant in a “signature guarantee program” (e.g., the Securities Transfer Agents
Medallion Program, the Stock Exchange Medallion Program or the New York Stock Exchange, Inc. Medallion Signature Program). 
  

 -7-

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