Document:

Exhibit_10_20

		
			Exhibit 10.20
		

		
			Execution Copy
		

		
			AMENDMENT AND WAIVER
		

		
			This AMENDMENT AND WAIVER (this “Amendment and Waiver”) is made and entered into as of December 28, 2018 by NATERA, INC., a Delaware corporation  (the “Borrower”),  NATERA INTERNATIONAL, INC., a Delaware corporation (“Natera International”), NSTX, INC.,  a Delaware corporation (“NSTX” and, together with Natera International, the “Guarantors”), and ORBIMED ROYALTY OPPORTUNITIES II, LP, a Delaware limited partnership  (the “Lender”).
		

		
			WHEREAS,  the Borrower and the Lender are party to that certain Credit Agreement, dated as of August 8, 2017,  among the Borrower, as borrower, and the Lender, as lender (as heretofore amended or otherwise modified, the “Credit Agreement”);
		

		
			WHEREAS, the Borrower and Lender have agreed to extend the time during which the Delayed Draw Loan may be drawn until March 31, 2019, increase the Delayed Draw Commitment Amount to $50,000,000 and make certain other changes to the Credit Agreement as set forth herein;
		

		
			WHEREAS,  the Borrower’s accounts at Comerica Bank used for receipt of receivables solely funded by Medicare or Medicaid (the “Governmental Receivables Accounts”) have from time to time held in the aggregate more than $50,000,  in violation of Section 7.13(a)(y) of the Credit Agreement (the “Excess Balances”);
		

		
			WHEREAS, the total cash balances of the Governmental Receivables Accounts have not been automatically swept to a Controlled Account, as required by Section 7.13(a)(y) of the Credit Agreement (the “Failure to Sweep”, and together with the Excess Balances, the “7.13(a)(y) Violations”);
		

		
			WHEREAS [*];
		

		
			WHEREAS, the Borrower wishes for the Lender to waive the 7.13(a)(y) Violations and agree to amend Section 7.13(a)(y) of the Credit Agreement as provided in this Amendment and Waiver, and the Lender desires to agree to such waiver and amendment,  subject to the terms and conditions contained herein; and
		

		
			WHEREAS, pursuant to Section 10.1 of the Credit Agreement, an amendment and waiver under the Credit Agreement may be entered into by the Borrower and the Lender.
		

		
			NOW, THEREFORE, in consideration of the mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
		

		
			1.            Definitions.  Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement.
		

		
			2.            Amendment.  Upon the effectiveness of this Amendment and Waiver, the Lender and the Borrower agree that:
		

		

		
			* CERTAIN INFORMATION IN THIS DOCUMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION.
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

 

		

		
			(a)        Amendment to Section 1.1.  The following definitions in Section 1.1 of the Credit Agreement are hereby amended and restated in their entirety as follows:
		

		
			“Applicable Margin” means (i) 8.75% until and including the Delayed Draw Closing Date, and (ii) 8.25% from and after the Delayed Draw Closing Date; it being understood that the Applicable Margin shall be 8.75% unless and until the Delayed Draw Loan is funded.
		

		
			“Delayed Draw Closing Date” means the date of the making of the Delayed Draw Loan hereunder, which in no event shall be later than March 31, 2019.
		

		
			“Delayed Draw Commitment Amount” means $50,000,000.
		

		
			“Delayed Draw Commitment Termination Date” means the earliest to occur of (i) the Delayed Draw Closing Date (immediately after the making of the Delayed Draw Loan on such date) and (ii) March 31, 2019, if the Delayed Draw Loan shall not have been made hereunder on or prior to such date.
		

		
			“LIBO Rate” means the three-month London Interbank Offered Rate for deposits in U.S. Dollars at approximately 11:00 a.m. (London, England time), quoted by the Lender from the appropriate Bloomberg or Telerate page selected by the Lender (or any successor thereto or similar source determined by the Lender from time to time), which shall be that three-month London Interbank Offered Rate for deposits in U.S. Dollars in effect two Business Days prior to the first Business Day of the relevant Fiscal Quarter, adjusted for any reserve requirement and any subsequent costs arising from a change in governmental regulation, such rate to be rounded up to the nearest 1/16 of 1% and such rate to be reset quarterly as of the first Business Day of each Fiscal Quarter.  If the Initial Loan is advanced other than on the first Business Day of a Fiscal Quarter, the initial LIBO Rate shall be that three-month London Interbank Offered Rate for deposits in U.S. Dollars in effect two Business Days prior to the date of the Initial Loan, which rate shall be in effect until (and including) the last Business Day of the Fiscal Quarter next ending.  The Lender’s internal records of applicable interest rates shall be determinative in the absence of manifest error.
		

		
			“Repayment Premium” means
		

		
			(i) for any repayment or prepayment of the Initial Loan made or required to be made on or prior to the first anniversary of the Closing Date, a premium of twelve and a half percent (12.5%) of the principal amount of such prepayment or repayment;
		

		
			
		

		
			

		 

		

			-2-

		

 

		

		
			(ii) for any repayment or prepayment of the Delayed Draw Loan made or required to be made on or prior to the first anniversary of the Delayed Draw Closing Date, a premium of twelve and a half percent (12.5%) of the principal amount of such prepayment or repayment;
		

		
			(iii) for any repayment or prepayment of the Initial Loan made or required to be made after the first anniversary of the Closing Date and on or prior to the second anniversary of the Closing Date, a premium of ten percent (10.0%) of the principal amount of such prepayment or repayment;
		

		
			(iv) for any repayment or prepayment of the Delayed Draw Loan made or required to be made after the first anniversary of the Delayed Draw Closing Date and on or prior to the second anniversary of the Delayed Draw Closing Date, a premium of ten percent (10.0%) of the principal amount of such prepayment or repayment;
		

		
			(v) for any repayment or prepayment of the Initial Loan made or required to be made after the second anniversary of the Closing Date and on or prior to the third anniversary of the Closing Date, a premium of five percent (5.0%) of the principal amount of such prepayment or repayment; and
		

		
			(vi) for any repayment or prepayment of the Delayed Draw Loan made or required to be made after the second anniversary of the Delayed Draw Closing Date and on or prior to the third anniversary of the Delayed Draw Closing Date, a premium of five percent (5.0%) of the principal amount of such prepayment or repayment;
		

		
			(vii) for any repayment or prepayment of the Initial Loan made or required to be made after the third anniversary of the Closing Date, a premium of two and a half percent (2.5%) of the principal amount of such prepayment or repayment; and
		

		
			(viii) for any repayment or prepayment of the Delayed Draw Loan made or required to be made after the third anniversary of the Delayed Draw Closing Date, a premium of two and a half percent (2.5%) of the principal amount of such prepayment or repayment.
		

		
			(b)       Amendment to Section 3.3.  Section 3.3 of the Credit Agreement is hereby amended and restated in its entirety to read:
		

		
			“Section 3.3 Application.  All amounts repaid or prepaid in respect of the outstanding principal amount of the Loans shall be applied pro rata to the Initial Loan and Delayed Draw Loan.”
		

		
			
		

		
			

		 

		

			-3-

		

 

		

		
			(c)        Amendment to Section 4.4(a).  The second to last sentence of Section 4.4(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
		

		
			“All interest and fees shall be computed on the basis of the actual number of days occurring during the period.”
		

		
			(d)       Amendment to Section 7.13(a)(y).  Section 7.13(a)(y) of the Credit Agreement is hereby amended by inserting the following, immediately after the words “on a monthly basis” and immediately prior to the words “and (z) assets”:
		

		
			“(except that,  [*], up to $400,000 may be held in the aggregate in such accounts and be manually swept to a Controlled Account on not less than a monthly basis)”.
		

		
			(e)        Amendment to Section 7.13(a).  Section 7.13(a) of the Credit Agreement is hereby amended by inserting the following, immediately after “other than accounts exclusively used for” and immediately prior to “(x)”:
		

		
			“(w) up to $50,000 of assets in the aggregate that are subject to a Lien in favor of a bank or financial institution and permitted under Section 8.3(l) or (r), and”.
		

		
			3.         Waiver.  Upon the effectiveness of this Amendment and Waiver, the Lender hereby waives any non-compliance by the Borrower with the covenants set forth in Section 7.13(a)(y) of the Credit Agreement as a result of the 7.13(a)(y) Violations and any Default or Event of Default that may have occurred as a result thereof.
		

		
			4.         Effectiveness.  This Amendment and Waiver shall become effective upon receipt by:
		

		
			(a)        the Lender of a counterpart signature to this Amendment and Waiver duly executed and delivered by the Borrower and each Guarantor;
		

		
			(b)        the Borrower of a counterpart signature to this Amendment and Waiver duly executed and delivered by the Lender; and
		

		
			(c)        the Lender of a secretary’s certificate with respect to the Borrower and the Guarantors, in substantially the form delivered on the Closing Date pursuant to Section 5.2 of the Credit Agreement (except that the resolutions of the Borrower’s and each Guarantor’s Board of Directors (or other managing body, in the case of other than a corporation) shall be delivered in accordance with Section 5 of this Amendment),  but updated to the date of delivery, and covering this Amendment and Waiver, along with the other Loan Documents, duly executed and delivered by the signatories thereto.
		

		
			5.          Expenses; Board Ratification.  [*] pursuant to Section 10.3 of the Credit Agreement.  No more than 30 days following the date hereof, and in any event prior to the
		

		

		
			* CERTAIN INFORMATION IN THIS DOCUMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION.
		

		
			 
		

		
			
		

		
			

		 

		

			-4-

		

 

		

		
			Delayed Draw Closing Date, the Borrower shall deliver to the Lender a secretary’s certificate with respect to the Borrower and the Guarantors, in form reasonably acceptable to the Lender, attaching board resolutions duly adopted by the boards of directors of the Borrower and each Guarantor, approving and ratifying this Amendment and Waiver.
		

		
			6.       Representations and Warranties.  The Borrower and the Guarantors represent and warrant to the Lender as follows:
		

		
			(a)       After giving effect to this Amendment and Waiver, the representations and warranties of the Borrower and the Guarantors contained in the Credit Agreement or any other Loan Document are (i) with respect to representations and warranties that contain a materiality qualification, true and correct in all respects on and as of the date hereof, and (ii) with respect to representations and warranties that do not contain a materiality qualification, are true and correct in all material respects on and as of the date hereof, and except that the representations and warranties limited by their terms to a specific date are true and correct as of such date.
		

		
			(b)       After giving effect to this Amendment and Waiver, no Default or Event of Default has occurred or is continuing.
		

		
			(c)       The execution, delivery and performance of this Amendment and Waiver are within Borrower’s and each Guarantor’s corporate or organizational powers and has been duly authorized by all necessary corporate or organizational action; (ii) this Amendment and Waiver constitutes the legal, valid and binding obligations of Borrower and each Guarantor, enforceable against such Person in accordance with its terms (except, in any case, as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and by principles of equity), and (iii) no authorization or other action by, and no notice to or filing with, any Governmental Authority or other Person (other than those that have been, or on the Closing Date will be, duly obtained or made and which are, or on the Closing Date will be, in full force and effect) is required for the due execution, delivery or performance by the Borrower or any Guarantor of this Amendment and Waiver.
		

		
			7.         Reaffirmation of Security Interests.  Each of the Borrower and each Guarantor (i) affirms that each of the security interests and liens granted in or pursuant to the Loan Documents are valid and subsisting, and (ii) agrees that this Amendment and Waiver shall in no manner impair or otherwise adversely affect any of the security interests and liens granted in or pursuant to the Loan Documents.
		

		
			8.         Reaffirmation of Guarantee.  Each Guarantor (a) acknowledges and consents to all of the terms and conditions of this Amendment and Waiver, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and Waiver and all
		

		
			
		

		
			

		 

		

			-5-

		

 

		

		
			documents executed in connection herewith do not operate to reduce or discharge the Guarantor’s obligations under the Loan Documents.
		

		
			9.            No Implied Waiver.  Except as expressly set forth in this Amendment and Waiver, this Amendment and Waiver shall not, by implication or otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or remedies of the Lender under the Credit Agreement or alter, modify, amend or in any way affect any of the terms, obligations or covenants contained in the Credit Agreement,  other than as expressly set forth herein, all of which shall continue in full force and effect.  Nothing in this Amendment and Waiver shall be construed to imply any willingness on the part of the Lender to agree to or grant any similar or future amendment or waiver of any of the terms and conditions of the Credit Agreement.
		

		
			10.          Waiver and Release.  TO INDUCE THE LENDER TO AGREE TO THE TERMS OF THIS AMENDMENT AND WAIVER, THE BORROWER AND THE GUARANTORS (FOR THEMSELVES AND THEIR AFFILIATES) (COLLECTIVELY, THE RELEASING PARTIES”) REPRESENT AND WARRANT THAT AS OF THE DATE HEREOF THERE ARE NO CLAIMS OR OFFSETS AGAINST OR RIGHTS OF RECOUPMENT WITH RESPECT TO OR DEFENSES OR COUNTERCLAIMS TO THEIR OBLIGATIONS UNDER THE LOAN DOCUMENTS AND IN ACCORDANCE THEREWITH THEY:
		

		
			(a)          WAIVE ANY AND ALL SUCH CLAIMS, OFFSETS, RIGHTS OF RECOUPMENT, DEFENSES OR COUNTERCLAIMS, WHETHER KNOWN OR UNKNOWN, ARISING PRIOR TO THE DATE HEREOF; AND
		

		
			(b)          FOREVER RELEASE, RELIEVE AND DISCHARGE THE LENDER, ITS OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, PARTNERS, PREDECESSORS, SUCCESSORS, ASSIGNS, ATTORNEYS, ACCOUNTANTS, AGENTS, EMPLOYEES AND REPRESENTATIVES (COLLECTIVELY, THE "RELEASED PARTIES"), AND EACH OF THEM, FROM ANY AND ALL CLAIMS, LIABILITIES, DEMANDS, CAUSES OF ACTION, DEBTS, OBLIGATIONS, PROMISES, ACTS, AGREEMENTS AND DAMAGES, OF WHATEVER KIND OR NATURE, WHETHER KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, CONTINGENT OR FIXED, LIQUIDATED OR UNLIQUIDATED, MATURED OR UNMATURED, WHETHER AT LAW OR IN EQUITY, WHICH THE RELEASING PARTIES EVER HAD, NOW HAVE, OR MAY, SHALL, OR CAN HEREAFTER HAVE, DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY BASED UPON, CONNECTED WITH, OR RELATED TO MATTERS, THINGS, ACTS, CONDUCT, AND/OR OMISSIONS AT ANY TIME FROM THE BEGINNING OF THE WORLD THROUGH AND INCLUDING THE DATE HEREOF, INCLUDING WITHOUT LIMITATION ANY AND ALL CLAIMS AGAINST THE RELEASED PARTIES ARISING UNDER OR RELATED TO THE LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY.
		

		
			(c)          IN CONNECTION WITH THE RELEASE CONTAINED HEREIN, THE RELEASING PARTIES ACKNOWLEDGE THAT THEY ARE AWARE THAT THEY MAY HEREAFTER DISCOVER CLAIMS PRESENTLY UNKNOWN OR UNSUSPECTED, OR FACTS IN ADDITION TO OR DIFFERENT FROM THOSE WHICH THEY KNOW OR
		

		
			
		

		
			

		 

		

			-6-

		

 

		

		
			BELIEVE TO BE TRUE, WITH RESPECT TO THE MATTERS RELEASED HEREIN. NEVERTHELESS, IT IS THE INTENTION OF THE RELEASING PARTIES, THROUGH THIS AGREEMENT AND WITH ADVICE OF COUNSEL, FULLY, FINALLY AND FOREVER TO RELEASE ALL SUCH MATTERS, AND ALL CLAIMS RELATED THERETO, WHICH DO NOW EXIST, OR HERETOFORE HAVE EXISTED.  IN FURTHERANCE OF SUCH INTENTION, THE RELEASES HEREIN GIVEN SHALL BE AND REMAIN IN EFFECT AS A FULL AND COMPLETE RELEASE OR WITHDRAWAL OF SUCH MATTERS NOTWITHSTANDING THE DISCOVERY OR EXISTENCE OF ANY SUCH ADDITIONAL OR DIFFERENT CLAIMS OR FACTS RELATED THERETO.
		

		
			(d)          THE RELEASING PARTIES COVENANT AND AGREE NOT TO BRING ANY CLAIM, ACTION, SUIT, OR PROCEEDING AGAINST THE RELEASED PARTIES, DIRECTLY OR INDIRECTLY, REGARDING OR RELATED IN ANY MANNER TO THE MATTERS RELEASED HEREBY, AND FURTHER COVENANT AND AGREE THAT THIS AGREEMENT IS A BAR TO ANY SUCH CLAIM, ACTION, SUIT OR PROCEEDING.
		

		
			(e)          THE RELEASING PARTIES REPRESENT AND WARRANT TO THE RELEASED PARTIES THAT THEY HAVE NOT HERETOFORE ASSIGNED OR TRANSFERRED, OR PURPORTED TO ASSIGN OR TRANSFER, TO ANY PERSON OR ENTITY ANY CLAIMS OR OTHER MATTERS HEREIN RELEASED.
		

		
			11.          Counterparts.  This Amendment and Waiver may be executed by the parties hereto in several counterparts, each of which shall be an original and all of which shall constitute together but one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment and Waiver by e-mail (e.g., “pdf” or “tiff”) or telecopy shall be effective as delivery of a manually executed counterpart of this Amendment and Waiver.
		

		
			12.          Governing Law.  THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
		

		
			[Signature Page Follows]
		

		
			 
		

		
			 
		

		
			

		 

		

			-7-

		

 

		

		
			IN WITNESS WHEREOF, the parties hereto have caused this Amendment and Waiver to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						NATERA, INC.,

				
	
					
						 

					
					
						as the Borrower

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						NATERA INTERNATIONAL, INC.,

				
	
					
						 

					
					
						as Guarantor

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						NSTX, INC.,

				
	
					
						 

					
					
						as Guarantor

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						ORBIMED ROYALTY OPPORTUNITIES II, LP,

				
	
					
						 

					
					
						as the Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By OrbiMed Advisors LLC,

				
	
					
						 

					
					
						its investment manager

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			Signature Page to Amendment and WaiverExhibit_10_8

		

			Exhibit 10.8

		

		

			 

		

		

			Confidential

		

		

			 

		

		
			FOURTH AMENDMENT TO SUPPLY AGREEMENT
		

		
			 
		

		
			This Fourth Amendment to Supply Agreement (the “Fourth Amendment”) is effective as of the date last signed below (the “Fourth Amendment Date”) between Illumina, Inc., a Delaware corporation having a place of business at 5200 Illumina Way, San Diego, CA  92122 ("Illumina") and Natera, Inc., having a place of business at 201 Industrial Road, Suite 410, San Carlos, CA  94070 (“Customer”).   Customer and Illumina may be referred to herein as “Party” or “Parties.”
		

		
			 
		

		
			WHEREAS, Illumina and Customer are Parties to a Supply Agreement having an Effective Date of August 16, 2013, and amended on September 18, 2014,  September 23, 2015, and June 8, 2016 (“Agreement”);
		

		
			 
		

		
			WHEREAS, the Parties have agreed upon certain amendments to the terms of the Agreement;
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the Parties hereto agree to amend the Agreement as follows:
		

		
			 
		

		
			1.          Illumina agrees that it [*].  For the avoidance of doubt, beginning in calendar year 2019 and through the end of the Term, Illumina may adjust base prices in accordance with Section 7(a) of the Agreement.
		

		
			 
		

		
			2.          Notwithstanding language in the Agreement restricting Customer from using Non-TG Consumables for NIPT Use or Additional Clinical Use, Customer shall be permitted to use Non-TG Consumables for NIPT Use and Additional Clinical Use.  To the extent Non-TG Consumables are used for NIPT Use or Additional Clinical Use, Customer shall pay to Illumina the [*] less the discount applicable to [*] as set forth in Exhibit B, table entitled “Consumable Volume Discount: Based on Consumable Spend.”
		

		
			3.          Amendment to Exhibit A – Customer Use Rights and Related Obligations (“Exhibit A”).  Exhibit A of the Agreement is hereby amended as follows:
		

		
			a.      The definition of “Fetal Chromosomal Abnormalities” in Section 1 of Exhibit A is amended by replacing the following language:
		

		
			 
		

		
			“(2) structural anomalies having a length greater than [*], including but not limited to [*]”
		

		
			 
		

		
			with
		

		
			 
		

		
			“(2) structural anomalies, including but not limited to [*]”
		

		
			 
		

		
			b.      Section 6(a) (NIPT Test Fee) is amended as follows:
		

		
			i.      By deleting the following at the end thereof:
		

		
			 
		

		
			“The NIPT Test Fee will be[*] multiplied by the number of tests for NIPT Use performed (in whole or in part) by Customer in that quarter, except that the NIPT Test Fee for any such test that detects or determines structural anomalies [*] will be [*] multiplied by the number of tests that [*].”
		

		
			 
		

		
			and replacing it with the following:
		

		
			 
		

		
			 
		

		

		
			* CERTAIN INFORMATION IN THIS DOCUMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION.
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

			Confidential

		

		

			 

		

		

		
			“The NIPT Test Fee will be [*] multiplied by the number of tests for NIPT Use performed (in whole or in part) by Customer in that quarter, except that (i) the NIPT Test Fee for any such test that [*] will be the greater of (A) [*] multiplied by the number of tests that [*] and (B) [*] for such tests;  and (ii) the NIPT Test Fee for any such test that [*] will be [*] multiplied by the number of tests that [*].  For the avoidance of doubt, Customer will owe one NIPT Test Fee per test, even if that test is for [*].
		

		
			 
		

		
			ii.     And by deleting the following last two sentences from the end thereof:
		

		
			 
		

		
			“As of the Effective Date, the market for tests for NIPT Use that detect or determine [*].  Upon Customer’s request to negotiate with Illumina to expand the definition of NIPT Use to include tests [*], each Party agrees that it will negotiate with the other reasonably and in good faith to arrive at mutually acceptable terms and conditions, including pricing terms under which the definition of NIPT Use will be appropriately expanded.”
		

		
			 
		

		
			4.          No License.  For the avoidance of doubt, no license of other right is being granted in this Fourth Amendment under or to use any Application Specific IP or Other IP, including, without limitation, U.S. Patent No. [*].
		

		
			 
		

		
			5.          Entire Agreement. Except as expressly stated herein, this Fourth Amendment does not alter any term or condition of the Agreement. This Fourth Amendment represents the entire agreement between the Parties regarding the subject matter hereof and supersedes all prior discussions, communications, agreements, and understandings of any kind and nature between the Parties regarding the subject matter hereof.
		

		
			 
		

		
			6.          Reference to Agreement. On and after the Fourth Amendment Date, each reference in the Agreement to “this Agreement”, “hereunder”, or words of like import referring to the Agreement shall mean and be a reference to the Agreement as modified by this Fourth Amendment.
		

		
			 
		

		
			7.          Governing Law.  This Fourth Amendment and performance by the Parties hereunder shall be construed in accordance with the laws of the State of California, U.S.A., without regard to provisions on the conflicts of laws.
		

		
			 
		

		
			8.          Counterparts. This Fourth Amendment may be executed in one or more counterparts, and each of which shall be deemed to be an original, and all of which shall constitute one and the same instrument.
		

		
			 
		

		
			[signature page follows]
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			* CERTAIN INFORMATION IN THIS DOCUMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION.
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			Page 3 of 2

		

 

		

			Confidential

		

		

			 

		

		

		
			IN WITNESS WHEREOF, the Parties hereto acknowledge and agree to the terms and conditions of this Fourth Amendment and have caused this Agreement to be executed by their respective duly authorized representatives to be effective as of the Fourth Amendment Date.
		

		
			 
		

			
					
						Natera, Inc.:

					
					
						 

					
					
						Illumina, Inc.:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						 

					
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						 

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						 

					
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Date:

					
					
						 

					
					
						 

					
					
						Date:

					
					
						 

				

		
			 
		

		 

		

			Page 3 of 3

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