Document:

EX-10.16

 Exhibit 10.16 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED. 
 LICENSE AGREEMENT 

This agreement (“Agreement”) is entered into as of the date of last signature (the “Effective Date”) by and between SutroVax, Inc. a
Delaware corporation having an address at 353 Hatch Drive, Foster City, California 94404 (“LICENSEE”) and The Regents of the University of California, a California public corporation having its statewide administrative offices at
1111 Franklin Street, Oakland, California 94607-5200 (“UNIVERSITY”), represented by its San Diego campus having an address at University of California San Diego, Office of Innovation and Commercialization, Mail Code 0910, 9500 Gilman
Drive, La Jolla, California 92093-0910 (“UC SAN DIEGO”). 
 BACKGROUND 

A. The invention and material disclosed in UC SAN DIEGO Disclosure No. SD2012-011 and titled “Novel Group A
Streptococcal Vaccine and Therapeutics” and claimed in U.S. patent application number 15/265,800 (Pub. No.: US 2017/019696) (“Invention” and “Material”), was made in the course of research at UC SAN DIEGO by Dr. Victor
Nizet and his associates (hereinafter and collectively, the “Inventors”) and are covered by Patent Rights as defined below. 
 B. The research was
sponsored in part by the Government of the United States of America and as a consequence this license is subject to overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and
applicable regulations; 
 C. LICENSEE entered into a Letter of Intent (UC Control
No. 2017-30-0064) with UNIVERSITY, effective August 17, 2017, for the purpose of negotiating this Agreement and is desirous of obtaining an exclusive license
to Patent Rights and a non-exclusive license to Material (defined below) from UNIVERSITY to research, develop, manufacture, sell, offer for sale, export, import or otherwise use the Invention, and the
UNIVERSITY is willing to grant such rights. Additionally, the UNIVERSITY will provide SutroVax with the Material defined below. 
 The parties agree as
follows: 
 ARTICLE 1. DEFINITIONS 
 The
terms, as defined herein, have the same meanings in both their singular and plural forms. 
  

	1.1	 “Affiliate” means any corporation, firm, limited liability company, partnership or other entity that
directly or indirectly Controls or is Controlled by or is under common control with LICENSEE. “Control” means (i) having the actual, present capacity to elect a majority of the directors of such entity; (ii) having the power to
direct at least [***] of the voting rights entitled to elect directors; or (iii) in any country where the local law will not permit foreign equity participation of a majority, ownership or control, directly or indirectly, of the maximum
percentage of such outstanding stock or voting rights permitted by local law. 

  
 1. 

	1.2	 “Commercially Reasonable Efforts” means exerting such diligent efforts and employing such resources
as would normally and objectively be exerted or employed by a similarly situated company for a product of similar market potential, profit potential and strategic value at a similar stage of its product life, taking into account the competitiveness
of the relevant marketplace, the patent, intellectual property and development positions of third parties, the applicable regulatory situation, the pricing/reimbursement situation, the commercial viability of the product and other relevant
development and commercialization factors based upon then-prevailing conditions. 

  

	1.3	 “Field” means any vaccine against Group A Streptococcus for all human uses.

  

	1.4	 “Licensed Product” means any service, composition or product which is composed of or incorporates, or
is directly or indirectly discovered, developed and/or identified using, the Invention or Material or is derived from the use of the Material or that is claimed in Patent Rights, or the research, development, manufacture, sale, offer for sale,
exportation, importation or otherwise use of which would constitute, but for the license granted to LICENSEE under this Agreement, an infringement, an inducement to infringe or contributory infringement, of any pending or issued claim within the
Patent Rights. 

  

	1.5	 “Material” means the Streptococcus pyogenes strain designed to produce the polysaccharide
provided by UNIVERSITY. 

  

	1.6	 “Net Sales” means the total of the gross invoice prices of Licensed Products sold or leased by
LICENSEE or its Sublicensee or Affiliate, or any combination thereof, less the sum of the following actual and customary deductions where applicable and separately listed (consistently applied in accordance with GAAP): [***] discounts or rebates,
[***], credits and chargebacks (as allowed under applicable law); sales tax, use tax, tariff, import/export duties, value-added tax (but only to the extent of amounts actually incurred and not refundable, reimbursable or creditable) or other excise
taxes imposed on particular sales or other governmental charges in connection with Licensed Products (except for income taxes imposed on the sales of Licensed Product in foreign countries); [***]; and credits to customers because of rejections,
recalls or returns. For purposes of calculating Net Sales, transfers among LICENSEE and its Sublicensees and Affiliates of Licensed Product shall not be treated as Net Sales; provided that the subsequent resales of such Licensed Product by LICENSEE,
its Sublicensee or Affiliate to a third party shall be treated as Net Sales. Reasonable quantities of Licensed Products that are provided [***] in connection with research and development, clinical trials towards regulatory approval, compassionate
use, humanitarian and charitable donations or indigent programs will be excluded from Net Sales. 

  

	1.7	 “Patent Costs” means all
out-of-pocket expenses for the preparation, filing, prosecution, and maintenance of all United States and foreign patents included in Patent Rights. Patent Costs include
out-of-pocket expenses for patentability opinions, inventorship determination, preparation and prosecution of patent application,
re-examination, re-issue, interference, post-grant review and other administrative proceedings in patent offices, and opposition activities, and the like, related to
patents or applications in Patent Rights. 

	1.8	 “Patent Rights” means UNIVERSITY’s rights in the claims of any of the following: the U.S. patent
application number 15/265,800 (Pub. No.: US 2017/019696); and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to
the extent the claims thereof are entirely supported in the specification and entitled to the priority date of the parent application); any patents issuing on said applications including reissues, reexaminations and extensions; and any corresponding
foreign applications or patents. 

  

	1.9	 “Property Rights” means UNIVERSITY’S right, title and interest in the tangible personal property
embodied in the Material. 

  

	1.10	 “Sponsor’s Rights” means all the applicable provisions of any license to the United States
Government executed by UNIVERSITY and the overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable governmental implementing regulations. 

 

	1.11	 “Sublicense” means an agreement into which LICENSEE enters with a third party that is not an
Affiliate for the purpose of (a) granting certain rights; (b) granting an option to certain rights; or (c) forbearing the exercise of any rights, in each case, granted by UNIVERSITY to LICENSEE in the license under this Agreement
“Sublicensee” means a third party with whom LICENSEE enters into a Sublicense. LICENSEE may further grant to its Affiliates and Sublicensee(s) the right to grant their own Sublicense(s) to Sublicensee(s), who together will be considered
Sublicensee(s) holding a Sublicense for all purposes of this Agreement. For clarity, a Sublicense shall not include any assignments made to a purchaser of all or substantially all of LICENSEE’s assets or business in connection with Licensed
Product, including by way of acquisition, merger, consolidation, stock sale, asset sale or other form of reorganization. 

  

	1.12	 “Term” means the period of time beginning on the Effective Date and ending on the expiration date of
the longest-lived Patent Rights. 

  

	1.13	 “Territory” with respect to Patent and non-Material rights
worldwide, to the extent Patent Rights exist. With respect to Material rights, “Territory” means rights to the extent this license can be legally granted. 

ARTICLE 2. GRANTS 
  

	2.1	 License. Subject to the limitations set forth in this Agreement and to the extent that it may lawfully
do so, UNIVERSITY hereby grants to LICENSEE an exclusive license under Patent Rights to research, develop, make, sell, offer for sale, export, import or otherwise use Licensed Products in the Field within the Territory and during the Term. LICENSEE
may extend such license to its AFFILIATES, provided that LICENSEE will be responsible for such AFFILIATES. 

	2.2	 Sublicense. 

(a) The license granted in Paragraph 2.1 includes the right of LICENSEE to grant Sublicenses to third parties during the Term but only for as
long as the license to Patent Rights is exclusive at the time of such grant. 
 (b) With respect to Sublicense granted pursuant to Paragraph
2.2(a), LICENSEE shall: 
 (i) not receive, or agree to receive, anything of value in lieu of cash as consideration from a third party under
Sublicense without the express written consent of UNIVERSITY, such permission not to be unreasonably withheld or delayed; 
 (ii) to the
extent applicable, include all of the rights of and obligations due to UNIVERSITY (and, if applicable, the Sponsor’s Rights) and contained in this Agreement; 

(iii) promptly provide UNIVERSITY with a copy of each Sublicense issued; and 

(iv) use commercially reasonable efforts to collect and assure payment of all payments due, directly or indirectly, to UNIVERSITY from
Sublicensees and summarize and deliver all reports due, directly or indirectly, to UNIVERSITY from Sublicensees. 
 (c) Upon termination of
this Agreement for any reason, LICENSEE will have the right to assign, effective as of the effective date of termination of this Agreement, this Agreement to any and all Sublicensees, and this Agreement will survive with respect to such
Sublicensees; provided that (i) the Sublicensee is in good standing upon termination of this Agreement with LICENSEE; (ii) the Sublicensee is not currently involved in litigation as an adverse party to the UNIVERSITY and
(iii) Sublicensee is not conducting business in a country barred by statute or executive order. In the event this Agreement is assigned to any Sublicensee and survives with respect to such Sublicensee, the Sublicensee will promptly agree in
writing to be bound by the terms of this Agreement, including but not limited to payment to the UNIVERSITY of milestone, earned royalty, sublicense fees, and patent reimbursement required under Article 3. If this Agreement is assigned to and
survives with respect to more than one Sublicense, the payment obligations described above may be prorated among the Sublicensees. Where a full Assignment of all rights is provided to a sublicensee, sublicensee shall assume all rights and
obligations of Licensee. 
  

	2.3	 Reservation of Rights. UNIVERSITY reserves the right to: 

 

	 	(a)	 possess and use the Material and use the Invention and Patent Rights solely for educational and research
purposes; 

  

	 	(b)	 publish or otherwise disseminate any information about the Material, Invention and Patent Rights.

	 	(c)	 allow other nonprofit institutions to use, publish, or otherwise disseminate any information about the
Material, Invention and Patent Rights for educational and research purposes. 

 ARTICLE 3. CONSIDERATION 

 

	3.1	 Fees and Royalties. The parties hereto understand that the fees and royalties payable by LICENSEE to
UNIVERSITY under this Agreement are partial consideration for the license granted herein to LICENSEE under Patent Rights. LICENSEE shall pay UNIVERSITY: 

(a) a license issue fee of ten thousand dollars (US$10,000), within [***] days after the Effective Date; 

This Paragraph 3.1(a) will survive the termination, expiration or assignment of this Agreement. 

(b) license maintenance fees of [***] per year and payable on the first anniversary of the Effective Date and annually thereafter on each
anniversary; provided however, that such maintenance fees will be creditable against earned royalties in any given payment period; 
 (c)
LICENSEE shall pay UNIVERSITY the following milestone payments for each Licensed Product: 
 (i) [***] 

(ii) [***] 

(iii) [***] 

(iv) [***] 

(v) [***] 

(vi) [***] 

(vii) [***] 
 Each
of the milestone payments set forth in this Paragraph 3.1(c) will be payable upon each action only once for each unique Licensed Product. 

(d) an earned royalty of [***] on Net Sales of Licensed Products by LICENSEE, Sublicensees, and/or Affiliates, provided, however, that:
(i) in the event LICENSEE is required to pay royalties, to one or more third parties for patent rights necessary to make, use or sell Licensed Products, LICENSEE may deduct [***] from the earned royalties payable to UNIVERSITY for every [***]
LICENSEE [***] to said third parties; provided, however, in no event shall the amount payable to UNIVERSITY be less than [***] of the amount otherwise due. For clarity, LICENSEE shall only pay an earned royalty for Licensed Product made or sold in
the Territory; royalties shall not accrue (and LICENSEE shall pay no royalties) on any other sale of Licensed Products. 
 (e) [***] of all
Sublicense fees received by LICENSEE from its Sublicensees that are not earned royalties or for reimbursement of research and development expenses up to a maximum of [***], however, if LICENSEE grants a sublicense to a SUBLICENSEE in accordance with
Paragraph 2.2 for further research or development, but not sale, of such Licensed Products, then no percentage of Sublicense fees shall be owed to UNIVERSITY. 

 All fees and royalty payments specified in Paragraphs 3.1(a) through 3.1(e) above shall be
paid by LICENSEE pursuant to Paragraph 4.3 and shall be delivered by LICENSEE to UNIVERSITY as noted in Paragraph 10.1. 
  

	3.2	 Patent Costs. 

LICENSEE will coordinate with UNIVERSITY, and UNIVERISTY shall participate in good faith, to discuss and estimate future Patent Costs each calendar year.
LICENSEE shall reimburse UNIVERSITY for all future (on or after the Effective Date) out-of-pocket Patent Costs incurred during the Term and in the Territory within [***]
days following the date an itemized invoice is sent from UNIVERSITY to LICENSEE. 
  

	3.3	 Due Diligence. 

(a) LICENSEE shall, either directly or through its Affiliate(s) or Sublicensee(s) use Commercially Reasonable Efforts to: 

(i) diligently develop, manufacture, and sell Licensed Products; and 

(ii) achieve the diligence milestones described in Exhibit A: 

(b) If LICENSEE fails to materially perform any of its obligations specified in Paragraphs 3.3(a) (i)-(ii), then UNIVERSITY shall have the
right and option to either terminate this Agreement or change LICENSEE’s exclusive license under Patent Rights to a nonexclusive license. This right, if exercised by UNIVERSITY, supersedes the rights granted in Article 2; provided, however,
that if, despite LICENSEE’s efforts, LICENSEE is unable to meet any of its diligence obligations due to delays caused by [***] or any inaction of any federal or state agency whose approval is required for commercial sale of products, the
parties shall [***], and ultimately any such [***]. To exercise the right to terminate this Agreement or to reduce the exclusive license to a non-exclusive license for lack of diligence, UNIVERSITY shall give
LICENSEE written notice of such deficiency. LICENSEE shall thereafter have ninety (90) days to cure such deficiency. If UNIVERSITY has not received satisfactory evidence that such deficiency has been cured by the end of the ninety (90) day
period, then UNIVERSITY may, at its option, either terminate this Agreement or reduce the exclusive license to a non-exclusive license by giving written notice to LICENSEE. 

ARTICLE 4. REPORTS, RECORDS AND PAYMENTS 
  

	4.1	 Reports. 

  

	 	(a)	 Progress Reports. 

Beginning [***] after the Effective Date and within [***] days after the end of each of LICENSEE’s fiscal years, Licensee shall furnish
UNIVERSITY with a written report on the progress of its efforts during the immediately preceding fiscal year to develop and commercialize Licensed Products. 

	 	(b)	 Royalty Reports. 

After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY annual royalty reports on or
before [***] of each year Each royalty report shall cover LICENSEE’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar year and shall show: 

(i) the date of first commercial sale of a Licensed Product in each country; 

(ii) the gross sales, deductions as provided in Paragraph 1.4 (Net Sales), and Net Sales during the most recently completed calendar year and
the royalties, in US dollars, payable with respect thereto; 
 (iii) the number of each type of Licensed Product sold; 

(iv) Sublicense fees and royalties received during the most recently completed calendar year in US dollars, payable with respect thereto; 

(v) the method used to calculate the royalties; and 

(vi) the exchange rates used. 
 If
no sales of Licensed Products have been made and no Sublicense revenue has been received by LICENSEE during any reporting period, LICENSEE shall so report. The reports referred to in this Paragraph 4.1(b) should be marked with the following title
and case number “License Agreement between UC SAN DIEGO and SutroVax, Inc. for case SD2012-011. Reports shall be submitted as an attachment to UC SAN DIEGO’s email address: [***]. Such reports and
information contained therein shall be deemed confidential information of LICENSEE. 
  

	4.2	 Records & Audits. 

(a) LICENSEE shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Licensed Products
manufactured, used, sold, offered for sale, and imported and Sublicense fees received under this Agreement. Such records shall be retained by LICENSEE for at least [***] years following a given reporting period. 

(b) UNIVERSITY shall have the right to request an inspection of records no more than [***]. All records shall be available during normal
business hours for inspection at the expense of UNIVERSITY by UNIVERSITY’s Internal Audit Department or by a Certified Public Accountant selected by UNIVERSITY and in compliance with the other terms of this Agreement for the sole purpose of
verifying reports and payments or other compliance issues. Such inspector shall not disclose to UNIVERSITY any information other than information relating to the accuracy of reports and payments made under this Agreement or other compliance issues.
In the event that any such inspection shows an under reporting and underpayment in excess of [***] for any [***] period, then LICENSEE shall pay the reasonably
out-of-pocket cost of the audit as well as any additional sum that would have been payable to UNIVERSITY had the LICENSEE reported correctly. For underpayment not
in excess of [***] for any [***] period, LICENSEE shall pay the difference within [***] days without inspection cost. All information obtained by UNIVERSITY in connection with such audit shall be deemed to be confidential information of LICENSEE.

	4.3	 Payments. 

(a) All fees, reimbursements and royalties due UNIVERSITY shall be paid in US dollars and all checks shall be made payable to “The Regents
of the University of California”, referencing “UC SAN DIEGO OIC”, and sent to UNIVERSITY according to Paragraph 10.1 (Correspondence). 

(b) Royalty Payments. 
 (i)
Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate for commercial sale or end use. 

(ii) LICENSEE shall pay earned royalties annually on or before [***] of each calendar year Each such payment shall be for earned royalties
accrued within LICENSEE’s most recently completed calendar year. 
 (iii) LICENSEE shall not collect royalties from, or cause to be paid
on Licensed Products sold to the account of the US Government or any agency thereof as provided for in the license to the US Government. 

(iv) For clarity, LICENSEE shall only pay an earned royalty for Licensed Product sold or made (entirely or partially) in the Territory;
royalties shall not accrue (and LICENSEE shall pay no royalties) on any other sale of Licensed Products. 
 (c) Late Payments. In the event
royalty, reimbursement and/or fee payments are not received by UNIVERSITY when due (following a [***] day grace period), LICENSEE shall pay to UNIVERSITY interest charges at a rate of [***] per year. Such interest shall be calculated from the date
payment was due until actually received by UNIVERSITY. 
 (d) Taxes. Taxes imposed by any governmental agency on any payments to be made to
UNIVERSITY by LICENSEE hereunder shall be paid by LICENSEE without deduction from any payment due to UNIVERSITY hereunder, except those taxes allowed to be deducted under the definition of Net Sales. 

ARTICLE 5. PATENT MATTERS 
  

	5.1	 Patent Prosecution and Maintenance. 

(a) Provided that LICENSEE has reimbursed UNIVERSITY for Patent Costs pursuant to Paragraph 3.2, UNIVERSITY shall diligently prosecute and
maintain the United States and, if available, foreign patents, and applications in Patent Rights using Gavrilovich, Dodd & Lindsey, LLP as counsel. For purposes of clarity, if LICENSEE is not current in reimbursing UNIVERSITY for such
Patent Costs, UNIVERSITY shall have no obligation to incur any new Patent Costs under this Agreement or to further prosecute Patent Rights or file any new patent applications under Patent Rights. UNIVERSITY shall provide LICENSEE with copies of all
relevant documentation relating to such 

 
prosecution and LICENSEE shall keep this documentation confidential. The counsel shall take instructions only from UNIVERSITY, however unless allowed by law, all patents and patent applications
in Patent Rights shall be assigned solely to UNIVERSITY. Regular communication between the UNIVERSITY and LICENSEE shall take place regarding prosecution of the Patent Rights. UNIVERSITY shall in good faith [***]. UNIVERSITY shall in any event
control all patent filings and all patent prosecution decisions and related filings (e.g., responses to office actions) shall be [***] (prosecution includes, but is not limited to, interferences, oppositions and any other inter parts or ex
parte matters originating in a patent office). 
 (b) Should LICENSEE fail to maintain the Patent Costs or elect to terminate its
reimbursement obligations with respect to any patent application or patent in Patent Rights, LICENSEE shall have no further license with respect to such Patent Rights under this Agreement. Non-payment of any
portion of Patent Costs with respect to any application or patent may be deemed by UNIVERSITY as an election by LICENSEE to terminate its reimbursement obligations with respect to such application or patent, provided UNIVERSITY has given LICENSEE a
ninety (90) day notice to cure and that period has run. UNIVERSITY is not obligated at any time to file, prosecute, or maintain Patent Rights in a country, where, for that country’s patent application or patent LICENSEE is not paying
Patent Costs, or to file, prosecute, or maintain Patent Rights to which LICENSEE has terminated its license hereunder. 
  

	5.2	 Patent Infringement. 

(a) In the event that UNIVERSITY (to the extent of the actual knowledge of the licensing professional responsible for the administration of
this Invention) or 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, LICENSEE has exclusive rights under this Agreement, neither UNIVERSITY nor 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 LICENSEE notifies a third party of infringement or puts such third party
on notice of the existence of any Patent Rights with respect to such infringement without first obtaining the written consent of UNIVERSITY and UNIVERSITY is sued in declaratory judgment, UNIVERSITY shall have the right to terminate this Agreement
immediately by providing [***] days’ notice as set forth in Paragraph 7.1. Both UNIVERSITY and LICENSEE will use their diligent efforts to cooperate with each other to terminate such infringement without litigation. 

(b) If infringing activity of potential commercial significance by the infringer has not been abated within [***] days following the date the
Infringement Notice takes effect, LICENSEE may institute suit for patent infringement against the infringer. UNIVERSITY 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 LICENSEE’s suit or any judgment rendered in that suit. LICENSEE may not join UNIVERSITY in a suit initiated by LICENSEE without UNIVERSITY’S prior written consent. If UNIVERSITY joins a suit at the
request of LICENSEE, LICENSEE will pay any costs incurred by UNIVERSITY arising out of such suit, including but not limited to, any legal fees of counsel that UNIVERSITY selects and retains to represent it in the suit. 

 (c) If, within [***] days following the date the Infringement Notice takes effect,
infringing activity of potential commercial significance by the infringer has not been abated and if LICENSEE has not brought suit against the infringer, UNIVERSITY may institute suit for patent infringement against the infringer. If UNIVERSITY
institutes such suit, LICENSEE may not join such suit without UNIVERSITY’S consent and may not thereafter commence suit against the infringer for the acts of infringement that are the subject of UNIVERSITY’S suit or any judgment rendered
in that suit. 
 (d) Notwithstanding anything to the contrary in this Agreement, in the event that the infringement or potential infringement
pertains to an issued patent included within the Patent Rights and written notice is given under any statute expediting litigation (e.g. the Drug Price Competition and Patent Term Restoration Act of 1984 and/or foreign counterparts of this Law)
(“Act”), then the party in receipt of such notice under the Act (in the case of UNIVERSITY to the extent of the actual knowledge of the licensing officer responsible for the administration of this Agreement) shall provide the Infringement
Notice to the other party promptly. If the time period is such that the LICENSEE will lose the right to pursue legal remedy for infringement by not notifying a third party or by not filing suit, the notification period and the time period to file
suit will be accelerated to within [***] days of the date of such notice under the Act to either party. 
 (e) Any recovery or settlement
received in connection with any suit will first be shared by UNIVERSITY and LICENSEE equally1 to cover the litigation costs each incurred, and next shall be paid to UNIVERSITY or LICENSEE to cover any litigation costs it incurred in excess of the
litigation costs of the other. In any suit initiated by LICENSEE where there is a recovery in excess of litigation costs, UNIVERSITY will receive (i) [***] or (ii) [***]. 

(f) Any agreement made by LICENSEE for purposes of settling litigation or other dispute shall comply with the requirements of Section 2.2
(Sublicenses) of this Agreement. 
 (g) 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). 
 (h) Any litigation proceedings
will be controlled by the party bringing the suit, except that UNIVERSITY may be represented by counsel of its choice in any suit brought by LICENSEE. 
  

	5.3	 Patent Marking. 

LICENSEE shall mark all Licensed Products made, used, sold, offered for sale, or imported under the terms of this Agreement, or their
containers, to the extent required by the applicable patent marking laws. LICENSEE shall be responsible for all monetary and legal liabilities arising from or caused by (a) failure to abide by applicable patent marking laws and (b) any
type of incorrect or improper patent marking. 

 ARTICLE 6. EXPORT CONTROL AND REGISTRATION 

6.1 Governmental Approval or Registration. 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 shall assume all legal obligations to do so. LICENSEE shall notify UNIVERSITY if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval
requirement. LICENSEE shall 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. 
 6.2 Export Control. LICENSEE shall observe all applicable United States and foreign laws with respect to the transfer of Material
or Licensed Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms Regulations and the Export Administration Regulations, to the extent applicable. 

6.3 Preference for United States Industry. If LICENSEE sells a Licensed Product in the US, LICENSEE shall manufacture said product substantially in the
US, as required under 35 U.S.C. §§ 204, as applicable, and applicable regulations. The UNIVERSITY will allow and support LICENSEE’s request of a waiver to manufacture outside of the US if LICENSEE decides it is appropriate. 

6.4 Disposition of Material and Licensed Products on Hand. Upon termination or expiration of this Agreement, LICENSEE may dispose of all previously made
or partially made Material or Licensed Product within a period of [***] days of the effective date of such termination or expiration provided that the sale of such Licensed Product by LICENSEE or Affiliates shall be subject to the terms of this
Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement. 
 ARTICLE 7.
TERMINATION OR EXPIRATION OF THE AGREEMENT 
  

	7.1	 Termination by UNIVERSITY. 

 

	 	(a)	 Subject to Paragraph 7.1(b), UNIVERSITY may terminate this agreement if LICENSEE: 

 

	 	(i)	 is delinquent on any report or payment after providing written notice to cure to LICENSEE;

  

	 	(ii)	 is not diligently developing and commercializing Licensed Product; 

 

	 	(iii)	 misses a diligence milestone described in Exhibit B; 

 

	 	(iv)	 is in breach of any provision; 

 

	 	(v)	 provides any intentional false report; or 

 

	 	(vi)	 files a claim including in any way the assertion that any portion of UNIVERSITY’s Patent Rights is invalid
or unenforceable. 

  

	 	(b)	 Except as otherwise provided by Paragraph 3.3, UNIVERSITY may give written notice of a Default Event
(“Notice of Default”) to LICENSEE. If LICENSEE fails to cure such Default Event within ninety (90) days of the Notice of Default, UNIVERSITY may terminate this Agreement and the License by a second written notice (“Notice of
Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement shall automatically terminate on the date of transmission of that notice. 

	7.2	 Termination by LICENSEE. 

 

	 	(a)	 LICENSEE shall have the right at any time and for any reason to terminate this Agreement upon a ninety (90)-day
written notice to UNIVERSITY. 

  

	 	(b)	 Any termination under Paragraph 7.2(a) shall not relieve LICENSEE of any obligation or liability accrued under
this Agreement prior to termination or rescind any payment made to UNIVERSITY or action by LICENSEE prior to the time termination becomes effective. Termination shall not affect in any manner any rights of UNIVERSITY arising under this Agreement
prior to termination. 

 7.3 Survival on Termination or Expiration. The rights and obligations under Paragraphs and Articles 3.1(a)
(license issue fee), 4 (Reports, Records and Payments), 6.4 (Disposition of Material and Licensed Products on Hand), 8 (Limited Warranty and Indemnification), 9 (Use of Names and Trademarks), 10.2 (Secrecy), and 10.5 (Failure to Perform) shall
survive the termination or expiration of this Agreement. 
 ARTICLE 8. LIMITED WARRANTY AND INDEMNIFICATION 

 

	8.1	 No Warranty. 

(a) To the extent of the actual knowledge of the licensing professional responsible for administering this Agreement as of the Effective Date,
the license granted herein is provided “AS IS” and without WARRANTY OF MERCHANTABILITY or WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE or any other warranty, express or implied. UNIVERSITY makes no representation or warranty that the
Material or Licensed Product or the use of Patent Rights will not infringe any other patent or other proprietary rights. Notwithstanding the foregoing, to the knowledge of the licensing professional responsible for administering this Agreement as of
the Effective Date, UNIVERSITY hereby warrants that UNIVERSITY is the sole owner of the Patent Rights; that is has not granted any rights to any third party with respect to the Patent Rights in a manner that is inconsistent with the exclusive
license granted to LICENSEE hereunder; and that it has the lawful right to grant this License. 
 EXCEPT AS SET FORTH IN SECTION 8.2
(INDEMNIFICATION), NEITHER PARTY WILL BE LIABLE FOR ANY LOST PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE,
OR OTHER SPECIAL DAMAGES SUFFERED BY LICENSEE, SUBLICENSEES, JOINT VENTURES, OR AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ALL CAUSES OF ACTION OF ANY KIND (INCLUDING TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY AND BREACH OF
WARRANTY) EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

	 	(b)	 Nothing in this Agreement shall be construed as: 

(i) a warranty or representation by UNIVERSITY as to the validity, enforceability, or scope of any Patent Rights; 

(ii) a warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or
shall be free from infringement of patents of third parties; 
 (iii) an obligation to bring or prosecute actions or suits against third
parties for patent infringement except as provided in Paragraph 5.2 hereof; 
 (iv) conferring by implication, estoppel or otherwise any
license or rights under any patents of UNIVERSITY other than Patent Rights, or any technology, regardless of whether those patents are dominant or subordinate to Patent Rights; 

(v) an obligation to furnish any know-how not provided in Patent Rights. 

 

	8.2	 Indemnification and Insurance. 

(a) LICENSEE will, and will require Sublicensees to, indemnify, hold harmless, and defend UNIVERSITY and its officers, employees, and agents;
the sponsors of the research that led to the Material and Invention; and inventors of patents or patent applications under Patent Rights, and their employers; in each case, against any and all third party 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, except to the extent arising from UNIVERSITY’s breach of this
Agreement, gross negligence or willful misconduct. 
 (b) LICENSEE, at its sole cost and expense, shall insure its activities in connection
with the work under this Agreement and obtain, keep in force and maintain insurance as follows: 
 (i) commercial general liability insurance
(contractual liability included) with limits of at least: 
 1. prior to first use in humans: 

(A) each occurrence, [***]; (B) personal and advertising injury, [***]; and (C) general aggregate [***]. If the above insurance is written
on a claims-made form, it shall continue for [***] years following termination or expiration of this Agreement or the commencement of clinical trial obligations as identified in section 8.2(b) (i) (2). The insurance shall have a retroactive date of
placement prior to or coinciding with the Effective Date; 
 2. at initiation of first use in humans: 

(A) each occurrence, [***]; (B) products/completed operations aggregate, [***]; (C) personal and advertising injury, [***]; and
(D) general aggregate [***]). If the above insurance is written on a claims-made form, it shall continue for [***] 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; 

 (ii) Worker’s Compensation as legally required in the jurisdiction in which the
LICENSEE is doing business; and 
 (iii) the coverage and limits referred to above shall not in any way limit the liability of LICENSEE. 

(c) Pursuant to written request, LICENSEE shall furnish UNIVERSITY with certificates of insurance showing compliance with all requirements.
Such certificates shall: (i) provide for [***] days’ advance written notice to UNIVERSITY of any modification; (ii) indicate that UNIVERSITY has been endorsed as an additionally insured party under the coverage referred to above; and
(iii) include a provision that the coverage shall be primary and shall not participate with nor shall be excess over any valid and collectable insurance or program of self-insurance carried or maintained by UNIVERSITY. 

(d) UNIVERSITY shall notify LICENSEE in writing of any claim or suit brought against UNIVERSITY in respect of which UNIVERSITY intends to
invoke the provisions of this Article. LICENSEE shall keep UNIVERSITY informed on a current basis of its defense of any claims under this Article. LICENSEE will not settle any claim against UNIVERSITY without UNIVERSITY’s written consent, such
consent not to be unreasonably delayed or withheld, where (a) such settlement would include any admission of liability or wrongdoing on the part of UNIVERSITY or other indemnified party, (b) such settlement would impose any restriction on
UNIVERSITY/indemnified party’s conduct of any of its activities, or (c) such settlement would not include an unconditional release of UNIVERSITY/indemnified party from all liability for claims that are the subject matter of the settled
claim. 
 ARTICLE 9. USE OF NAMES AND TRADEMARKS 

9.1 Nothing contained in this Agreement confers any right to use in advertising, publicity, or other promotional activities any name, trade name, trademark,
or other designation of UNIVERSITY by LICENSEE without prior written approval by UNIVERSITY (including contraction, abbreviation or simulation of any of the foregoing). Notwithstanding the foregoing, UNIVERSITY hereby grants permission for LICENSEE
to acknowledge that it has obtained an exclusive license from UNIVERSITY under the Patent Rights. Nothing contained herein, shall prevent LICENSEE from identifying UNIVERSITY in any regulatory or securities filing as required by law or regulation.

 9.2 LICENSEE hereby grants permission for UNIVERSITY (including UC SAN DIEGO) to include LICENSEE’s name and a link to LICENSEE’s website in
UNIVERSITY’s and UC SAN DIEGO’s annual reports and on UNIVERSITY’s (including UC SAN DIEGO’s) websites that showcase innovation and commercialization stories. 

ARTICLE 10. MISCELLANEOUS PROVISIONS 

10.1 Correspondence. Any notice or payment required to be given to either party under this Agreement shall be deemed to have been properly given and
effective: 
  

	 	(a)	 on the date of delivery if delivered in person, 

	 	(b)	 [***] days after mailing if mailed by first-class or certified mail, postage paid, to the respective addresses
given below, or to such other address as is designated by written notice given to the other party, or 

  

	 	(c)	 upon confirmation by recognized national overnight courier, confirmed electronic transmission, or confirmed
electronic mail, to the following physical addresses or email address of the parties: 

 If sent to LICENSEE: 

SutroVax, Inc. 
 353 Hatch Drive

 Foster City, California 94404 

Attention: Chief Executive Officer 

Phone: [***] 
 e-mail: gpickering@sutrovax.com 
 with mandatory copy to SutroVax Legal Department 

If sent to UNIVERSITY by mail: 

University of California San Diego 

Office of Innovation and Commercialization 

9500 Gilman Drive, Mail Code 0910 

La Jolla, CA 92093-0910 

Attention: Director 
 If sent to
UNIVERSITY by overnight delivery 
 University of California San Diego 

Office of Innovation and Commercialization 

10300 North Torrey Pines Road 

Torrey Pines Center North, Third Floor 

La Jolla, CA 92037 
 Attention:
Director 
  

	10.2	 Secrecy. 

(a) “Confidential information” shall mean information relating to the Invention and disclosed by UNIVERSITY to LICENSEE during the
term of this Agreement, which if disclosed in writing shall be marked “Confidential”, or if first disclosed otherwise, shall within [***] days of such disclosure be reduced to writing by UNIVERSITY and sent to LICENSEE. 

(b) LICENSEE shall, with respect to confidential information of UNIVERSITY 

(i) use the Confidential Information for the sole purpose of performing under the terms of this Agreement; 

(ii) safeguard Confidential Information against disclosure to others with the same degree of care as it exercises with its own data of a
similar nature; 

 (iii) not disclose Confidential Information to others (except to its employees, agents or
consultants who are bound by a like obligation of confidentiality) without the express written permission of the other party, except that shall not be prevented from using or disclosing any of the Confidential Information that: 

(A) LICENSEE can demonstrate by written records was previously known to it; 

(B) is now, or becomes in the future, public knowledge other than through acts or omissions of LICENSEE; 

(C) is lawfully obtained by LICENSEE from sources independent of UNIVERSITY; or 

(D) is required to be disclosed by law or a court of competent jurisdiction 

(c) The secrecy obligations of LICENSEE with respect to Confidential Information in this Paragraph 10.2 shall continue for a period ending
[***] years from the expiration or termination date of this Agreement. 
 (d) Notwithstanding the foregoing, UNIVERSITY may disclose to the
Inventors, senior administrators employed by UNIVERSITY, and individual Regents the terms and conditions of this Agreement upon their request If such disclosure is made, UNIVERSITY shall request that the individuals not disclose such terms and
conditions to others. UNIVERSITY may acknowledge the existence of this Agreement and the extent of the grant in Article 2 to third parties, but UNIVERSITY shall not disclose the negotiable financial terms of this Agreement to third parties, except
where UNIVERSITY is required by law to do so, such as under the California Public Records Act. 
 (e) Notwithstanding the foregoing, LICENSEE
may disclose confidential information of UNIVERSITY to its actual and potential Sublicensees and may disclose the terms of this Agreement to third parties in connection with due diligence investigations of the LICENSEE, provided that such parties
are bound by a duty of confidentiality on terms consistent with those found in this Paragraph 10.2. 
 10.3 Assignability. This Agreement may be
assigned by UNIVERSITY, but is personal to LICENSEE and assignable by LICENSEE only with the written consent of UNIVERSITY, which shall not be unreasonably withheld or delayed; provided that, LICENSEE may assign this Agreement or any rights and
obligations hereunder without the written consent of UNIVERSITY to: (i) an Affiliate of LICENSEE and a payment of an assignment fee of [***], but only after [***], or (ii) a purchaser of all or substantially all of LICENSEE’s assets
or business in connection with Licensed Product, including by way of acquisition, merger, consolidation, stock sale, asset sale or other form of reorganization. Within [***] days of an assignment of this Agreement by LICENSEE to a purchaser of all
or substantially all of LICENSEE’s assets or business pursuant to Paragraph 10.3(ii) LICENSEE shall make a one-time cash milestone payment to UNIVERSITY, in accordance with the following scale: (a) [***]
USD, if the aggregate proceeds actually received by LICENSEE from such purchase is less than or equal to [***] USD; (b) [***] USD, if the aggregate proceeds actually received by LICENSEE from such purchaser is greater than [***] but less than [***];
and (c) [***], if the aggregate proceeds actually received by LICENSEE from such purchaser is greater than [***] USD. 
 10.4 No Waiver. No waiver by
either party of any breach or default of any agreement set forth in this Agreement shall be deemed a waiver as to any subsequent and/or similar breach or default. 

 10.5 Failure to Perform. In the event of a failure of performance due under this Agreement and if it
becomes necessary for either party to undertake legal action against the other on account thereof, then the prevailing party shall be entitled to reasonable attorneys’ fees in addition to costs and necessary disbursements. 

10.6 Governing Laws. THIS AGREEMENT SHALL 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 shalt be governed by the applicable laws of the country of the patent or patent application. 
 10.7 Force
Majeure. A party to this Agreement may be excused from any performance required herein if such performance is rendered impossible or unfeasible due to any catastrophe or other major event beyond its reasonable control, including, without
limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the non-performing party’s obligations herein shall resume. 
 10.8 Headings. 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. 
 10.9
Entire Agreement. This Agreement, including Exhibits A and B, 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. 
 10.10 Amendments. No amendment or modification of this Agreement shall be valid or binding on the parties unless made
in writing and signed on behalf of each party. 
 10.11 Severability. In the event that any of the provisions contained in this Agreement is held to
be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if the invalid, illegal, or unenforceable
provisions had never been contained in it. 
 Signature page follows 

									
	SUTROVAX, INC.:	  	 
 

    
	  	 THE REGENTS OF THE

UNIVERSITY OF CALIFORNIA:

					
	By:	 	 /s/ Grant E. Pickering
	  		  	By:	  	 /s/ David G. Gibbons

		 	(Signature)                            	  		  		  	(Signature)                            
	Name:	 	 Grant E. Pickering
	  		  	David G. Gibbons
	Title:	 	President & CEO	  		  	Assistant Director
	Date:	 	February 4, 2019	  		  	Date:	  	Feb 1, 2019

 Exhibit A – Due Diligence for Licensed Products 

LICENSEE will accomplish the following: 
 [***] 

The parties agree that should one of the milestones be delayed due to product development challenges and/or regulatory delays [***] any subsequent milestones
will be based on completion of the prior milestone. LICENSEE shall inform UNIVERSITY within [***] days should milestones need to be extended [***] and the parties agree [***].EX-10.17

 Exhibit 10.17 

STANDARD NNN LEASE 

[MULTI-TENANT PROJECT] 

 

							
	1.	 	BASIC LEASE PROVISIONS.
				
		 	1.1	 	DATE FOR REFERENCE PURPOSES:	  	July 22, 2016
				
		 	1.2	 	LANDLORD:	  	Gray Peak Fork, LLC, a Nevada limited liability company and Gray Peak Fork, Series A, LLC, A Nevada Limited Liability company, jointly and severally
				
		 	1.3	 	TENANT:	  	SutroVax, Inc., a Delaware corporation
				
		 	1.4	 	BUILDING ADDRESS:	  	353 Hatch Drive, Foster City, California
				
		 	1.5	 	SUITE NUMBER:	  	n/a
				
		 	1.6	 	RENTABLE AREA OF PREMISES:	  	Approximately 13,173 square feet
				
		 	1.7	 	USE:	  	Administrative and staff offices, research and development, laboratory, production, training, sales, and related legal uses.
				
		 	1.8	 	TERM:	  	Sixty (60) months
				
		 		 		  	Two (2), 30-month options to extend
				
		 	1.9	 	COMMENCEMENT DATE:	  	September 1, 2016
				
		 	1.10	 	MONTHLY BASE RENT:	  	Commencement Date through
				
		 		 		  	 12th full calendar month: $32,932.50

13th – 24th
month:            $33,920.48
 25th – 36th month:            $34,938.09
 37th – 48th month:            $35,986.23

49th – 60th
month:            $37,065.82

				
		 	1.11	 	SECURITY DEPOSIT:	  	$197,595
				
		 	1.12	 	TENANT’S SHARE:	  	40%
				
		 	1.13	 	REAL ESTATE BROKER:	  	
				
		 		 	 LANDLORD:
	  	Coldwell Banker Commercial
				
		 		 	 TENANT:
	  	VentureSite
				
		 	1.14	 	EXHIBITS ATTACHED TO LEASE:	  	 Exhibit A – “Premises”;
 Exhibit
B – “Project Site”
 Exhibit C – “Verification Letter”

				
		 	1.15	 	ADDRESSES FOR NOTICES:	  	
				
		 		 	 LANDLORD:
	  	 Fred C. Bertetta, III
 President

Gray Peak Fork, LLC
 1300 Industrial Road, Suite 2

San Carlos, CA 94070

				
		 		 	 TENANT:
	  	 Prior to the Commencement Date:
 Grant E.
Pickering
 President & CEO
 400 E Jamie Ct, Suite
205
 S San Francisco, CA 94080
  

After the Commencement Date:
 Grant E. Pickering,
President & CEO
 Premises

 1.16 INTERPRETATION. The Basic Lease Provisions
shall be interpreted in conjunction with all of the other terms and conditions of this Lease. Other terms and conditions of this Lease modify and expand on the Basic Lease Provisions. If there is a conflict between the Basic Lease Provisions and the
other terms and conditions of this Lease, the other terms and conditions shall control. 
 2.
PREMISES. 
 2.1 LEASE
OF PREMISES AND DEFINITION OF PROJECT. The “Premises” shall mean the area shown on Exhibit “A” to this Lease.
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, upon all of the conditions set forth herein the Premises, together with certain rights to the Common Areas (as defined below) as hereinafter specified. The building of which
the Premises is a part (the “Building”), the Common Areas, and the land upon which the same are located (which may be multiple parcels), along with all other buildings and improvements designated by Landlord are herein collectively
referred to as the “Project.” The Project is depicted on Exhibit “B”. 
 2.2
CALCULATION OF SIZE OF BUILDING AND PREMISES. While the approximate square footage of the Premises may have been
used in the marketing of the Premises for purposes of comparison, the Base Rent stated herein is not tied to square footage and is not subject to adjustment should the actual size be determined to be different. The Premises shall be deemed to
contain the number of rentable square feet set forth in Section 1.6 and the number of rentable square feet shall not be subject to change. 

2.3 COMMON AREAS-DEFINED. The term “Common Areas”
is defined as all areas and facilities outside the Premises and Building and within the exterior boundary line of the Project that are designated for the general non-exclusive use of Landlord, Tenant and the
other tenants of the Project and their respective employees, suppliers, customers and invitees, including, but not limited to, parking areas, loading and unloading areas, landscaped areas, roadways and sidewalks. Tenant shall not store any property
in the Common Areas or use the Common Areas for any purpose not approved by Landlord, in Landlord’s sole discretion. Landlord may also designate other land and improvements outside the boundaries of the Project to be a part of the Common Areas,
provided that such other land and improvements have a reasonable and functional relationship to the Project. 
 2.4
DELIVERY OF PREMISES. Landlord shall deliver the Premises to Tenant on the Commencement Date, broom clean, in reasonable repair, and with all systems in good working
condition, including, without limitation, the roof, HVAC, and the electrical, life safety and plumbing systems, and with the following improvements: (a) removal of the unfinished ceiling in the locker room; (b) installation of a wall to
demise the Premises from adjacent office space; (c) replacement of the exterior double-doors [on the East side of the building] and; (d) completion of any Necessary Repairs (as defined in Section 2.6). Tenant shall have access to the
Premises on a 24 hour, 7 days a week, basis. 
 2.5 EARLY ACCESS. Tenant shall
have early access to the Premises as of the mutual execution and delivery of this Lease for the purposes of (a) inspecting the Premises in accordance with Section 2.6, and (b) performing Tenant’s Alterations in accordance with
Section 7.3(b). During such early access, all of the provisions of the Lease shall apply with respect to such access, except for the payment of Rent. Landlord and Tenant shall reasonably cooperate with each other so as to prevent unreasonable
interference with the other party’s work within the Premises during such early access period. 
 2.6
INSPECTIONS. From and after the mutual execution and delivery of this Lease, and before the Commencement Date, Tenant shall have the right to cause an inspector to conduct commercially reasonable physical
inspections of the Premises and Project for purposes of determining whether there is any need for repairs necessary for Tenant’s occupancy and use of the Premises (“Necessary Repairs”). 

3. TERM AND COMMENCEMENT DATE. The term and Commencement Date
of this Lease are as specified in Sections 1.8 and 
 3.1 If the actual Commencement Date does not occur on the first day of a calendar
month, the term of this Lease shall be extended by the number of days between the actual Commencement Date and the first day of the next calendar month, it being the intention of Landlord and Tenant that the term of the Lease end on the last day of
a calendar month. When the actual Commencement Date is established by Landlord, Landlord shall complete the letter attached hereto as Exhibit “C” and Tenant shall, within five (5) days after Landlord’s request, execute the
letter and deliver it to Landlord if such letter is accurate. 
 4. RENT. 

4.1 BASE RENT. Tenant shall pay to Landlord, in advance, the Base Rent for the
Premises set forth in Section 1.10, without offset, demand or deduction on or before the first day of each calendar month (the “Due Date”). At the time Tenant executes this Lease it shall pay to Landlord the advance Base Rent
for the first full month. Base Rent for any period during the term hereof which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Base Rent and all other amounts payable to Landlord
hereunder shall be payable to Landlord in lawful money of the United States, and Tenant shall be responsible for delivering said amounts to Landlord at the address stated herein or to such other persons or to such other places as Landlord may
designate in writing. 

 4.2 COMMON AREA
EXPENSES. Tenant shall pay to Landlord during the term hereof, in addition to the Base Rent, Tenant’s Share of all Common Area Expenses. If less than 95% of the rentable square feet in the Project is
occupied by tenants or Landlord is not supplying services to 95% of the rentable square feet of the Project at any time during any calendar year, Common Area Expenses for such calendar year shall be an amount equal to the Common Area Expenses which
would normally be expected to be incurred had 95% of the Project’s rentable square feet been occupied and had Landlord been supplying services to 95% of the Project’s rentable square feet throughout such calendar year. Tenant’s Share
of Common Area Expenses shall be determined in accordance with the following provisions: 
 (a) “Tenant’s Share” is
defined as the percentage set forth in Section 1.12, which percentage has been determined by dividing the number of rentable square feet in the Premises by the number of rentable square feet in the Project and multiplying the resulting quotient
by one hundred (100). 
 (b) Subject to the limitations set forth in (c) below, “Common Area Expenses” shall include
all costs, expenses and fees incurred by Landlord in connection with or attributable to the Project Common Areas, including but not limited to, the following items: (A) the maintenance and replacement of all parking areas, loading and unloading
areas, trash areas, roadways, sidewalks, landscaped areas, striping, bumpers, irrigation systems, exterior lighting facilities, fences and gates; (B) the cost of trash disposal; (C) the cost of all insurance purchased by Landlord and
enumerated in Section 8 of this Lease, including any commercially reasonable deductibles; (D) the cost of water and other utilities serving the Common Areas, (E) the costs identified in section 7.1 as being payable as Common Area
Expenses; and (F) a fee for general and administrative expenses (the “Property Management Fee”) equal to three percent (3%) of the Base Rent, as adjusted from time to time pursuant to this Lease. Real Property Taxes shall be
paid in accordance with Section 10 below and shall not be included in Common Area Expenses. 
 (c) Notwithstanding anything to the
contrary contained in the Lease, Common Area Expenses shall be defined so as to exclude the following: (i) all costs associated with defending any lawsuits with any mortgagee or tenant and costs of selling, syndicating, financing, mortgaging or
hypothecating any of the Landlord’s interest in the Building; (ii) all costs (including permit, license and inspection fees) incurred in order to construct tenant improvements in space to be occupied exclusively by tenants or in renovating
or redecorating vacant space which is intended for the exclusive occupancy by tenants in the future, including the cost of alterations or improvements to the Premises; (iii) leasing commissions and attorney fees incurred in connection with
leasing space in the Project to tenants; (iv) reserves for equipment or capital replacement; (v) depreciation and amortization of the Building; (vi) interest on debt or amortization payments on any mortgages or deeds of trust or any
other debt instrument encumbering the Building; (vii) bad debt loss, rent loss, or reserves for bad debt or rent loss; (viii) costs of services, supplies or other materials provided by Landlord or its affiliates directly, to the extent
that the cost of such services, supplies or materials exceeds the fair market value of such services, supplies or materials; (ix) advertising and promotional costs; (x) Landlord’s income taxes, inheritance taxes and estate taxes;
(xi) the cost of repairs or other work undertaken by reason of fire, windstorm or other casualty, or by the exercise of the right of eminent domain, to the extent that Landlord actually receives reimbursement for such costs from insurance
proceeds (except that commercially reasonable insurance deductibles shall be included in Common Area Expenses) or condemnation awards; (xii) costs of repair or replacement for any item covered by a warranty if the cost of repair is actually
reimbursed to Landlord by the entity providing the warranty; (xiii) costs for which Landlord actually receives reimbursement by its insurance carrier or by any tenant’s insurance carrier; (xiv) fines, penalties, interest or costs
resulting from the negligence or willful misconduct of the Landlord; (xv) rental payments and any related costs pursuant to any ground lease of land underlying all or any portion of the Building; (xvi) costs, fees, dues, contributions or
similar expenses for political or charitable organizations (Common Area Expenses may include the cost of fees and dues of industry associations); (xvii) costs of items considered capital replacements or improvements under generally accepted
accounting principles consistently applied (“Capital Items”), except for the annual amortized cost incurred by Landlord after the Commencement Date for any capital improvements installed or paid for by Landlord and required by any
new (or change in) laws, rules or regulations of any governmental or quasi-governmental authority which are enacted or first enforced after the Commencement Date; (xviii) except for the Management Fee, costs associated with the operation of the
business of the entity which constitutes Landlord, as the same are distinguished from the costs of operation of the Project; (xix) costs incurred to comply with laws relating to the removal of Hazardous Substances which was in existence in the
Project prior to the Commencement Date; (xx) fees payable by Landlord for management of the Project; and (xxi) ) the wages and benefits of any employee. 

(d) If pursuant to (c) above Landlord is required to amortize a capital improvement, the cost shall be amortized over the useful life of
the capital improvement, as reasonably determined by Landlord. 
 (e) Tenant’s Share of Common Area Expenses shall be payable by Tenant
within thirty (30) days after a reasonably detailed statement of actual expenses is presented to Tenant by Landlord. At Landlord’s option, however, Landlord may, from time to time, estimate what Tenant’s Share of Common Area Expenses
will be, and the same shall be payable by Tenant monthly on the same day as the Base Rent is due hereunder. In the event that Tenant pays Landlord’s estimate of Tenant’s Share of Common Area Expenses, Landlord shall use commercially
reasonable efforts to deliver to Tenant within one hundred eighty (180) days after the expiration of each year a reasonably detailed statement (the “Statement”) showing Tenant’s Share of the actual Common Area Expenses
incurred during such year. Landlord’s failure to deliver the Statement to Tenant within said 

 
period shall not constitute Landlord’s waiver of its right to collect said amounts or otherwise prejudice Landlord’s rights hereunder. If Tenant’s payments under this
Section 4.2(e) during said year exceed Tenant’s Share as indicated on the Statement, Tenant shall be entitled to credit the amount of such overpayment against Tenant’s Share of Common Area Expenses next falling due. If Tenant’s
payments under this Section 4.2(e) during said year were less than Tenant’s Share as indicated on the Statement, Tenant shall pay to Landlord the amount of the deficiency within thirty (30) days after delivery by Landlord to Tenant of
the Statement. Landlord and Tenant shall forthwith adjust between them by cash payment any balance determined to exist with respect to that portion of the last year for which Tenant is responsible for Common Area Expenses, notwithstanding that the
Lease term may have terminated before the end of such year; and this provision shall survive the expiration or earlier termination of the Lease. 

(f) The computation of Tenant’s Share of Common Area Expenses is intended to provide a formula for the sharing of costs by Landlord and
Tenant and will not necessarily result in the reimbursement to Landlord of the exact costs it has incurred. Landlord shall not collect or be entitled to collect Common Area Expenses from all of its tenants in an amount which is in excess of 100% of
the Common Area Expenses actually paid by Landlord in connection with the operation of the Project. 
 (g) If Tenant disputes the amount set
forth in the Statement, Tenant shall have the right, not later than sixty (60) days following receipt of such Statement, to cause Landlord’s books and records with respect to the calendar year which is the subject of the Statement to be
audited by a certified public accountant mutually acceptable to Landlord and Tenant. The audit shall take place at the offices of Landlord where its books and records are located at a mutually convenient time during Landlord’s regular business
hours. Tenant’s Share of Common Area Expenses shall be appropriately adjusted based upon the results of such audit, and the results of such audit shall be final and binding upon Landlord and Tenant. The accountant conducting the audit shall be
compensated on an hourly basis and shall not be compensated based upon a percentage of overcharges it discovers. No subtenant shall have any right to conduct an audit, and no assignee shall conduct an audit for any period during which such assignee
was not in possession of the Premises. Tenant’s right to undertake an audit with respect to any calendar year shall expire six (6) months after Tenant’s receipt of the Statement for such calendar year, and such Statement shall be
final and binding upon Tenant and shall, as between the parties, be conclusively deemed correct, at the end of such period, unless prior thereto Tenant shall have given Landlord written notice of its intention to audit Common Area Expenses for the
calendar year which is the subject of the Statement. Tenant agrees that the results of any Common Area Expense audit shall be kept strictly confidential by Tenant and shall not be disclosed to any other person or entity. Tenant shall pay all costs
and expenses of the audit unless the final determination in such audit is, or Landlord and Tenant mutually agree, that Landlord overstated Common Area Expenses for the year being audited by more than ten percent (10%), in which case Landlord shall
pay all costs and expenses of the audit. 
 5. SECURITY DEPOSIT. Contemporaneously with
the execution of this Lease, Tenant shall pay to Landlord the amount of Security Deposit specified in Section 1.11, which shall be held by Landlord to secure the payment by Tenant of any and all present and future debts and liabilities of
Tenant to Landlord and for Tenant’s performance of its obligations under this Lease. No portion of the Security Deposit shall be considered an advance by Tenant of the last month’s rent. If Tenant defaults with respect to any provision of
this Lease, including, without limitation, the provisions relating to the payment of Rent, Landlord may, but shall not be required to, reasonably use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or
any other sum in default, (ii) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of such default by Tenant, and (iii) to compensate Landlord for any other loss or damage which Landlord may
suffer by reason of such default by Tenant. If any portion of the Security Deposit is so used or applied, Tenant shall, upon demand therefor by Landlord, deposit with Landlord cash in an amount sufficient to restore the Security Deposit to the
amount required to be maintained by Tenant hereunder. Landlord shall return to Tenant the remaining portion of the Security Deposit within thirty (30) days after the date that Landlord receives possession of the Premises, unless a determination
of the amount Landlord is entitled to retain reasonably takes more than thirty days, in which case the remaining portion of the Security Deposit shall be returned to tenant within thirty days after such determination. Landlord shall not be required
to keep the Security Deposit separate from its general funds, and any interest paid thereon shall become funds of the Landlord, and shall not accrue to the benefit of Tenant. If Landlord conveys, assigns or otherwise disposes of its interest in this
Lease, Landlord shall deliver or credit the Security Deposit to its successor, and shall give Tenant notice thereof as required by California Civil Code Section 1950.7 or any successor statute, and Landlord thereafter shall have no further
liability for the return of the Security Deposit. So long as Tenant is not then in default under this Lease (beyond any applicable notice and cure period), and has paid rent not later than five (5) days after the Due Date for each of the
preceding twelve calendar months, as of the first anniversary, second anniversary and third anniversary of the Commencement Date, the Security Deposit shall be reduced by $32,932.50 (for a total reduction of $98,797.50), and the reduced amount held
by Landlord shall be promptly returned to Tenant. 
 6. USE. 

6.1 USE. The Premises shall be used and occupied only for the purpose set forth in Section 1.7
and for no other purpose. Notwithstanding any permitted use inserted in Section 1.7, Tenant shall not use the Premises for any purpose which would violate applicable laws. No exclusive use has been granted to Tenant hereunder. In no event shall
Tenant use all or any part of the Premises for the production, processing, sale or distribution of marijuana. 

 6.2 COMPLIANCE WITH LAW. 

(a) Landlord warrants to Tenant that, in the state existing as of the date set forth in Section 1.1, but without regard to alterations or
improvements to be made by Tenant or the use for which Tenant will occupy the Premises, does not violate any covenants or restrictions of record, or any applicable building code, regulation or ordinance in effect on such date. Landlord’s
representation and warranty that improvements comply with applicable building codes, regulations and ordinances shall mean that the improvements complied with the codes, regulations and ordinances in effect when the improvements were originally
constructed. The Premises has not undergone an inspection by a certified access specialist. 
 (b) Tenant shall, at Tenant’s sole
expense, comply with all applicable laws, ordinances, rules, regulations, orders, certificates of occupancy, conditional use or other permits, variances, covenants and restrictions of record, the recommendations of Landlord’s engineers or other
consultants, and requirements of any fire insurance underwriters, rating bureaus or government agencies, now in effect or which may hereafter come into effect, whether or not they reflect a change in policy from that now existing, during the term or
any part of the term hereof, relating in any manner to the particular use by Tenant of the Premises (“Legal Requirements”). Tenant shall conduct its business and use the Premises in a lawful manner and shall not use or permit the
use of the Premises or the Common Areas in any manner that will tend to create dangerous situations, waste or a nuisance or shall tend to unreasonably disturb other occupants of the Project. Tenant shall obtain, at its sole expense, any permit or
other governmental authorization required to operate its business from the Premises. Landlord shall not be liable for the failure of any other tenant or person to abide by the requirements of this section or to otherwise comply with applicable laws
and regulations, and Tenant shall not be excused from the performance of its obligations under this Lease due to such a failure. 
 7.
MAINTENANCE, REPAIRS AND ALTERATIONS. 
 7.1
LANDLORD’S OBLIGATIONS. Landlord shall keep the Common Area, electrical, heating, ventilation, air conditioning (“HVAC”), exterior doors, plumbing, fire,
mechanical, and life safety systems and equipment, and the roof membrane in good condition and repair, and shall include the cost of the same as a Common Area Expense. Landlord shall maintain, repair and replace the structural components of the
roof, exterior walls, foundations, and floor slabs of the Project,. at Landlord’s sole cost and expense (and not as an Common Area Expense). Notwithstanding the foregoing, or any other provision in this Lease, Landlord shall not be required to
perform any maintenance, repair or replacements necessitated by the act(s) or omission(s) of Tenant, or Tenant’s employees, agents, invitees, or contractors, or by Tenant’s failure to comply with this Lease. 

7.2 TENANT’S OBLIGATIONS. 

(a) Tenant shall be responsible for keeping the Premises, including, without limitation, interior walls, floors, ceiling, and exterior plate
glass, and all building systems exclusively serving the Premises, in good condition and repair, at Tenant’s sole expense. In addition, Tenant shall be responsible for the installation, maintenance and repair of all telephone, computer and
related cabling throughout the Premises, and Tenant shall be responsible for any loss, cost, damage, liability and expense (including attorneys’ fees) arising out of or related to the installation, maintenance, repair and replacement of such
cabling. If Tenant fails to keep the Premises in good condition and repair, Landlord may, but shall not be obligated to, make any necessary repairs, following ten (10) days notice to Tenant and opportunity to begin to cure. If Landlord makes
such repairs, Landlord may bill Tenant for the cost of the repairs as additional rent, and said additional rent shall be payable by Tenant within ten (10) days. 

(b) On the last day of the term hereof, or on any sooner termination, Tenant shall surrender the Premises to Landlord in good condition,
ordinary wear and tear and casualty damage excepted, clean and free of debris and Tenant’s personal property. Tenant shall repair any damage to the Premises occasioned by the installation or removal of Tenant’s trade fixtures, furnishings
and equipment. Landlord shall have the right to require Tenant to (i) remove any telecommunications or other cabling installed by Tenant in the Premises as part of the original tenant improvements (whether constructed by Landlord or Tenant)
(collectively, “Cabling”) or (ii) leave all or part of the Cabling. If Landlord requires Tenant to leave all or part of the Cabling, each individual cable left by Tenant shall be tagged by Tenant both at the end of the cable in
the Premises and at the end of the cable in the riser closet so that Landlord can easily determine where each individual cable begins and ends. 

7.3 ALTERATIONS AND ADDITIONS. 

(a) Except as provided below, Tenant shall not, without Landlord’s prior written consent, which may be given or withheld in
Landlord’s commercially reasonable discretion, make any alterations, improvements, additions, utility installations or repairs (hereinafter collectively referred to as “Alterations”) in, on or about the Premises.
Notwithstanding the foregoing, Landlord’s prior consent shall not be required for any non-structural Alterations (“Notice Only Alterations”) to the Premises that do not (i) involve
the expenditure of more than $25,000 in the aggregate in any calendar year, (ii) affect the exterior appearance of the Building, (iii) affect the Building’s electrical, plumbing, HVAC, life, fire, safety or security systems,
(iv) affect the structural elements of the Building or (v) adversely affect any other tenant of the Project; provided that Tenant shall provide Landlord with prior written notice of any Notice Only Alteration at least fifteen
(15) business days’ prior to Tenant’s commencement of same. At the expiration of the term, Landlord may require the removal of any Alterations installed by Tenant and the restoration of the Premises to their prior condition, at
Tenant’s expense; provided, however, notwithstanding the foregoing, Landlord shall notify Tenant whether the applicable Alteration will be required to be removed pursuant to the terms of this Section 7.3(a) at the time of Tenant’s
request for Landlord’s consent to any Alteration. 

 (b) Notwithstanding the foregoing, Tenant shall be permitted to install the following tenant
improvements within the Premises as an Alteration, at Tenant’s sole cost and expense, which may be removed (but shall not be required to be removed) by Tenant upon the expiration or earlier termination of this Lease: (i) removal of the
wall recently installed in constructing the newer server room; (ii) update of kitchen and reception area; (iii) installation of lab benches, fume hoods, glass wash, and a water deionizer system; (iv) installation of appropriate tile
floor in lab space; and (v) additional offices and conference rooms within the office area. 
 (c) Any Alterations in or about the
Premises that Tenant shall desire to make shall be presented to Landlord in written form, with plans and specifications which are sufficiently detailed to obtain a building permit, if a building permit is required. If Landlord consents to an
Alteration and the Alteration requires a building permit, the consent shall be deemed conditioned upon Tenant acquiring a building permit from the applicable governmental agencies, furnishing a copy thereof to Landlord prior to the commencement of
the work, and compliance by Tenant with all conditions of said permit in a prompt and expeditious manner. Tenant shall provide Landlord with as-built plans and specifications for any Alterations made to the
Premises. 
 (d) Tenant shall pay, when due, all claims for labor or materials furnished or alleged to have been furnished to or for Tenant
at or for use in the Premises, which claims are or may be secured by any mechanic’s or materialmen’s lien against the Premises or the Project, or any interest therein. If Tenant shall, in good faith, contest the validity of any such lien,
Tenant shall furnish to Landlord a surety bond satisfactory to Landlord in an amount equal to not less than one and one half times the amount of such contested lien claim indemnifying Landlord against liability arising out of such lien or claim.
Such bond shall be sufficient in form and amount to free the Project from the effect of such lien. In addition, Landlord may require Tenant to pay Landlord’s reasonable attorneys’ fees and costs incurred as a result of any such lien. 

(e) Tenant shall give Landlord not less than ten (10) days’ advance written notice prior to the commencement of any work in the
Premises by Tenant, and Landlord shall have the right to post notices of non-responsibility in or on the Premises or the Project. 

(f) All Alterations (whether or not such Alterations constitute trade fixtures of Tenant) which may be made to the Premises by Tenant shall be
paid for by Tenant, at Tenant’s sole expense, and shall be made and done in a good and workmanlike manner, and in compliance with all applicable, laws, regulations, building codes and ordinances. Tenant’s personal property, fixtures and
equipment, other than that which is affixed to the Premises so that it cannot be removed without material damage to the Premises or the Project, shall remain the property of Tenant and may be removed by Tenant. 

8. INSURANCE. 

8.1 INSURANCE-TENANT. 

(a) Tenant shall obtain and keep in force during the term of this Lease a commercial general liability policy of insurance with coverages
acceptable to Landlord, in Landlord’s reasonable discretion, which, by way of example and not limitation, protects Tenant and Landlord (as an additional insured) against claims for bodily injury, personal injury and property damage based upon,
involving or arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto. Such insurance shall be on an occurrence basis providing coverage in an amount not less than $1,000,000 per occurrence and
not less than $2,000,000 in the aggregate. 
 (b) Tenant shall obtain and keep in force during the term of this Lease “Causes of Loss
– Special Form” extended coverage property insurance (previously known as “all risk” property insurance) with coverages acceptable to Landlord, in Landlord’s reasonable discretion. Said insurance shall be written on a one
hundred percent (100%) replacement cost basis on Tenant’s personal property, all tenant improvements installed at the Premises by Landlord or Tenant, Tenant’s trade fixtures and other property. By way of example, and not limitation, such
policies shall provide protection against any peril included within the classification “fire and extended coverage,” against vandalism and malicious mischief, theft and sprinkler leakage. To the extent that Tenant’s policy covers
tenant improvements to the Premises, Landlord shall be a loss payee on such policy. If insurance proceeds are available to repair the tenant improvements, at Landlord’s option, all insurance proceeds Tenant is entitled to receive to repair the
tenant improvements shall be paid by the insurance company directly to Landlord, Landlord shall select the contractor to repair and/or replace the tenant improvements, and Landlord shall cause the tenant improvements to be repaired and/or replaced
to the extent insurance proceeds are available. 
 (c) Tenant shall, at all times during the term hereof, maintain the following insurance
with coverages reasonably acceptable to Landlord: (i) workers’ compensation insurance as required by applicable law, (ii) employers liability insurance, and (iii) business interruption insurance. 

 8.2 INSURANCE-LANDLORD. 

(a) Landlord shall obtain and keep in force a policy of general liability insurance with coverage against such risks and in such amounts as
Landlord deems advisable insuring Landlord against liability arising out of the ownership, operation and management of the Project. 
 (b)
Landlord (subject to Tenant’s obligation to pay Tenant’s share of Operating Expenses) shall maintain a policy or policies of replacement cost “special causes of loss” property insurance covering loss or damage to the structural
and shell components of the Building and all improvements and alterations to the Building existing as of the Commencement Date (the “Structure and Shell”) for fire and such other hazards (including flood if Landlord so chooses) as
are normally included in a “special loss” (formerly referred to as “all risk”) policy of insurance, or which are required by any lender of Landlord, with such deductibles as Landlord reasonably may determine. Landlord shall carry
general liability insurance with policy limits of at least One Million Dollars ($1,000,000), which, if Landlord so chooses, will include a Loss of rent endorsement. Landlord also shall maintain an umbrella policy with policy limits of at least Five
Million Dollars ($5,000,000).. In addition, Landlord shall have the right to obtain such additional insurance as is customarily carried by owners or operators of other comparable office buildings in the geographical area of the Project. Tenant will
not be named as an additional insured in any insurance policies carried by Landlord and shall have no right to any proceeds therefrom. The policies purchased by Landlord shall contain such deductibles as Landlord may reasonably determine. In
addition to amounts payable by Tenant in accordance with Section 4.2, Tenant shall pay any increase in the property insurance premiums for the Project over what was payable immediately prior to the increase to the extent the increase is
specified by Landlord’s insurance carrier as being caused by the nature of Tenant’s occupancy. 
 8.3
INSURANCE POLICIES. Tenant shall deliver to Landlord certificates for the insurance policies required under Section 8.1 concurrently with the execution of this Lease using an ACORD 28
form or a similar form approved by Landlord. Tenant’s insurance policies shall provide that the insurance company shall endeavor to provide Landlord with at least thirty (30) days’ prior notice of cancellation, reduction of coverage
or other material modification. Tenant shall, at least thirty (30) days prior to the expiration of such policies, furnish Landlord with renewals thereof. Tenant’s insurance policies shall be issued by insurance companies authorized to do
business in the state in which the Project is located, and said companies shall maintain during the policy term a “General Policyholder’s Rating” of at least A and a financial rating of at least “Class VII” (or such other
rating as may be required by any lender having a lien on the Project) as set forth in the most recent edition of “Best Insurance Reports.” All insurance obtained by Tenant shall be primary to and not contributory with any similar
insurance carried by Landlord, whose insurance shall be considered excess insurance only. Landlord, Landlord’s property manager and lender(s) and their respective officers, shareholders, directors, partners, members, managers, employees,
successors and assigns, shall be included as additional insureds under Tenant’s commercial general liability policy and under the Tenant’s excess or umbrella policy, if any, using ISO additional insured endorsement CG 20 11 or a substitute
providing equivalent coverage. 
 8.4 WAIVER OF SUBROGATION.
Landlord waives any and all rights of recovery against Tenant and Tenant’s employees and agents for or arising out of damage to, or destruction of, the Project to the extent that Landlord’s insurance policies then in force insure against
such damage or destruction (or to the extent of what would have been covered had Landlord maintained the insurance required to be carried under this Lease) and permit such waiver. Tenant waives any and all rights of recovery against Landlord and
Landlord’s employees and agents for or arising out of damage to, or destruction of, the Project to the extent that Tenant’s insurance policies then in force insure against such damage or destruction (or to the extent of what would have
been covered had Tenant maintained the insurance required to be carried under this Lease) and permit such waiver. Tenant shall cause the insurance policies it obtains in accordance with Section 8.1 relating to property damage to provide that
the insurance company waives all right of recovery by subrogation against Landlord in connection with any liability or damage covered by Tenant’s insurance policies. 

9. DAMAGE OR DESTRUCTION. 

9.1 EFFECT OF DAMAGE OR DESTRUCTION. If
all or part of the Project is damaged by fire, earthquake, flood, explosion, the elements, riot, the release or existence of Hazardous Substances (as defined below) or by any other cause whatsoever (hereinafter collectively referred to as
“Damages”), but the Damages are not material (as defined in Section 9.2 below), Landlord shall repair the Damages to the Project as soon as is reasonably possible, and this Lease shall remain in full force and effect. If all or
part of the Project is destroyed or materially damaged (as defined in Section 9.2 below), Landlord shall have the right, in its sole and complete discretion, to repair or to rebuild the Project or to terminate this Lease. Landlord shall within
thirty (30) days after the discovery of such material damage or destruction notify Tenant in writing of Landlord’s intention to repair or to rebuild or to terminate this Lease. Tenant shall in no event be entitled to compensation or
damages on account of annoyance or inconvenience in making any repairs, or on account of construction, or on account of Landlord’s election to terminate this Lease. Notwithstanding the foregoing, if Landlord shall elect to rebuild or repair the
Project after material damage or destruction, but in good faith determines that the Premises cannot be substantially repaired within ninety (90) days after the date of the discovery of the material damage or destruction, without payment of
overtime or other premiums, and the damage to the Project will render the Premises unusable during said ninety (90) day period for Tenant’s intended use, Landlord shall notify Tenant thereof in writing at the time of Landlord’s
election to rebuild or repair, and Tenant shall thereafter have a period of fifteen (15) days within which Tenant may elect to terminate this Lease, upon thirty (30) days’ advance written notice to Landlord. Tenant’s termination
right described in the preceding sentence shall not apply if the damage was caused by the negligent or intentional acts of Tenant or its employees, agents, contractors or invitees. Failure of Tenant to exercise said election within said fifteen
(15) day period shall constitute Tenant’s agreement to accept delivery of the Premises under this Lease whenever tendered by Landlord, provided Landlord thereafter pursues reconstruction or restoration diligently to completion, subject to
delays caused by Force Majeure Events. 

 9.2 DEFINITION OF MATERIAL
DAMAGE. Damage to the Project shall be deemed material if, in Landlord’s reasonable judgment, the uninsured cost of repairing the damage will exceed $50,000 (in excess of any deductible), unless Tenant
agrees in its sole discretion to pay the excess uninsured cost over $50,000. Damage to the Project shall also be deemed material if (a) the Project cannot be rebuilt or repaired to substantially the same condition it was in prior to the damage
due to laws or regulations in effect at the time the repairs will be made, (b) the holder of any mortgage or deed of trust encumbering the Project requires that insurance proceeds available to repair the damage in excess of $50,000 be applied
to the repayment of the indebtedness secured by the mortgage or the deed of trust, or (c) the damage occurs during the last twelve (12) months of the Lease term. 

9.3 ABATEMENT OF RENT. In the event that Tenant is prevented from
using, and does not use, the Premises or any portion thereof as a result of damage to the Premises, and the damage was not caused by the negligence or intentional acts of Tenant or its employees, agents, contractors or invitees, then Tenant’s
Base Rent and Tenant’s Share of Common Area Expense or Real Property Tax shall be abated or reduced, as the case may be, for such time that Tenant continues to be so prevented from using, and does not use, the Premises or a portion thereof, in
the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises. 

9.4 TENANT’S PROPERTY. Subject to Section 8.1(b), Tenant
shall repair or replace all of Tenant’s property at Tenant’s sole cost and expense. Tenant acknowledges that it is Tenant’s sole responsibility to obtain adequate insurance coverage to compensate Tenant for damage to Tenant’s
property. 
 9.5 WAIVER. Landlord and Tenant hereby waive the provisions of any present or
future statutes which relate to the termination of leases when leased property is damaged or destroyed and agree that such event shall be governed by the terms of this Lease. 

10. REAL AND PERSONAL PROPERTY TAXES. 

10.1 PAYMENT OF TAXES. Tenant shall pay to Landlord during the term
of this Lease, in addition to Base Rent and Tenant’s Share of Common Area Expenses, Tenant’s Share of the amount of all “Real Property Taxes” (as defined in Section 10.2 below) accruing during the Term. Tenant’s
Share of Real Property Taxes shall be payable by Tenant at the same time, in the same manner and under the same terms and conditions as Tenant pays Tenant’s Share of Common Area Expenses. 

10.2 DEFINITION OF “REAL PROPERTY
TAX”. As used herein, the term “Real Property Taxes” shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, improvement bond or bonds imposed
on the Project or any portion thereof by any authority having the direct or indirect power to tax, including any city, county, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district
thereof, as against any legal or equitable interest of Landlord in the Project or in any portion thereof, unless such tax is defined as an Common Area Expense by Section 4.2(b). Real Property Taxes shall not include income, inheritance, gift
taxes, excess profits taxes, franchise taxes, capital stock taxes, inheritance and succession taxes, estate taxes, and other taxes to the extent applicable to Landlord’s general or net income (as opposed to rents, receipts or income
attributable to operations at the Project), or any items included as Common Area Expenses. 
 10.3 PERSONAL
PROPERTY TAXES. Tenant shall pay prior to delinquency all taxes assessed against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the
Premises or related to Tenant’s use of the Premises. If any of Tenant’s personal property shall be assessed with Landlord’s real or personal property, Tenant shall pay to Landlord the taxes attributable to Tenant within ten
(10) days after receipt of a written statement from Landlord setting forth the taxes applicable to Tenant’s property. 
 10.4
REASSESSMENTS. From time to time Landlord may challenge the assessed value of the Project as determined by applicable taxing authorities and/or Landlord may attempt to cause the Real Property Taxes to be
reduced on other grounds. If Landlord is successful in causing the Real Property Taxes to be reduced or in obtaining a refund, rebate, credit or similar benefit (hereinafter collectively referred to as a “Reduction”), Landlord
shall, to the extent practicable, credit the Reduction(s) to Real Property Taxes for the calendar year to which a Reduction applies and recalculate the Real Property Taxes owed by Tenant for years after the year in which the Reduction applies based
on the reduced Real Property Taxes (if a Reduction applies to Tenant’s Base Year, the Base Year Real Property Taxes shall be reduced by the amount of the Reduction and Tenant’s Share of Real Property Taxes shall be recalculated for all
years following the year of the Reduction based on the lower Base Year amount). All costs incurred by Landlord in obtaining and/or processing the Real Property Tax reductions (e.g., consulting fees, accounting fees, etc.) may be included in Common
Area Expenses or deducted from the Reduction. Landlord shall have the right to compensate a person or entity it employs to obtain a Reduction by giving such person or entity a percentage of any Reduction obtained. 

 11. UTILITIES. 

11.1 SERVICES PROVIDED BY LANDLORD. Subject to all
governmental rules, regulations and guidelines applicable thereto, and as a n element of Common Area Expenses, Landlord shall provide water and electricity for the Common Areas and trash removal for the Project. 

11.2 UTILITIES. Tenant shall, at its cost, provide for all utility service for utilities that are
separately metered to the Premises from the appropriate utility service providers. Tenant shall pay all charges of such Utilities actually used on the Premises during the Term of this Lease. 

12. ASSIGNMENT AND SUBLETTING. 

12.1 LANDLORD’S CONSENT REQUIRED. Tenant shall
not voluntarily or by operation of law assign, transfer, hypothecate, mortgage, sublet, or otherwise transfer or encumber all or any part of Tenant’s interest in this Lease or in the Premises (hereinafter collectively a
“Transfer”), without Landlord’s prior written consent, which shall not be unreasonably withheld. Landlord shall respond to Tenant’s written request for consent hereunder within fifteen (15) days after Landlord’s
receipt of the written request from Tenant. Any attempted Transfer without such consent shall be void and shall constitute a default and breach of this Lease. Tenant’s written request for Landlord’s consent shall include, and
Landlord’s within fifteen (15) day response period referred to above shall not commence, unless and until Landlord has received from Tenant, all of the following information: (a) financial statements for the proposed assignee or
subtenant prepared in accordance with accounting principles consistently applied for the lesser of (i) the past three (3) years or (ii) the time period the assignee or subtenant has been in existence, (b) a detailed description
of the business the assignee or subtenant intends to operate at the Premises, (c) the proposed effective date of the assignment or sublease, (d) a copy of the proposed sublease or assignment agreement which includes all of the terms and
conditions of the proposed assignment or sublease, (e) a detailed description of any ownership or commercial relationship between Tenant and the proposed assignee or subtenant and (f) a detailed description of any Alterations the proposed
assignee or subtenant desires to make to the Premises. Notwithstanding anything to the contrary contained in this Lease, an assignment or subletting of all or a portion of the Premises: (x) to a corporation or other business entity
(“Successor Entity”) into or with which Tenant shall be merged or consolidated, or to which substantially all of the assets of Tenant may be transferred, and provided that the successor corporation shall assume in writing all of the
obligations and liabilities of Tenant under this Lease; or (y) to a corporation or other business entity (herein sometimes referred to as a “Related Entity”) which shall control, be controlled by or be under common control with
Tenant (any such assignee or sublessee described in items (x) and (y) of this Section 12.1 hereinafter referred to as a “Permitted Transferee”), shall not be considered a Transfer, provided that (i) Tenant notifies
Landlord of any such assignment or sublease and promptly supplies Landlord with any documents or information reasonably requested by Landlord regarding such transfer or transferee as set forth above, (ii) such assignment or sublease is not a
subterfuge by Tenant to avoid its obligations under this Lease, it being understood that such Transferee shall thereafter become liable under this Lease, on a joint and several basis, with Tenant, (iii) any Permitted Transferee shall be of a
character and reputation consistent with the quality of the Building, (iv) in the case of an assignment, such Successor Entity or Related Entity, as applicable, together with the original Tenant, shall have a tangible net worth (not including
goodwill as an asset) computed in accordance with generally accepted accounting principles (excluding goodwill as an asset) at least equal to that of original Tenant as of the date of this Lease, and, in Landlord’s reasonable judgment, is
otherwise equally able as Tenant to meet the Tenant’s financial obligations under this Lease as and when they are due and payable, and (v) any lender of Landlord’s which is required to give consent to the transfer does so.
“Control,” as used in this Section 12.1, shall mean the ownership, directly or indirectly, of at least fifty-one percent (51%) of the voting securities of, or possession of the right to
vote, in the ordinary direction of its affairs, of at least fifty-one percent (51%) of the voting interest in, any person or entity. 

12.2 STANDARD FOR APPROVAL. Landlord shall not unreasonably withhold
its consent to a Transfer provided that Tenant has complied with each and every requirement, term and condition of this Section 12. Tenant acknowledges and agrees that each requirement, term and condition in this Section 12 is a reasonable
requirement, term or condition. It shall be deemed reasonable for Landlord to withhold its consent to a Transfer if any requirement, term or condition of this Section 12 is not complied with or: (a) the Transfer would cause Landlord to be
in violation of its obligations under another lease or agreement to which Landlord is a party; (b) in Landlord’s reasonable judgment, a proposed assignee or subtenant has, together with the net worth of the original Tenant, a smaller net
worth than Tenant had on the date this Lease was entered into with Tenant or is less able financially to pay the rents due under this Lease as and when they are due and payable; (c) the terms of a proposed assignment or subletting will allow
the proposed assignee or subtenant to exercise a right of renewal, right of expansion, right of first offer, right of first refusal or similar right held by Tenant; (d) a proposed assignee or subtenant refuses to enter into a written assignment
agreement or sublease, reasonably satisfactory to Landlord, which provides that it will abide by and assume all of the terms and conditions of this Lease for the term of any assignment or sublease and containing such other terms and conditions as
Landlord reasonably deems necessary; (e) the use of the Premises by the proposed assignee or subtenant is not permitted by this Lease; (f) any guarantor of this Lease refuses to consent to the Transfer or to execute a written agreement
reaffirming the guaranty; (g) Tenant is in default as defined in Section 13.1 at the time of the request; (h) if requested by Landlord, the assignee or subtenant refuses to sign a
non-disturbance and attornment agreement in favor of Landlord’s lender; (i) Landlord has sued or been sued by the proposed assignee or subtenant or has otherwise been involved in a legal dispute with
the proposed assignee or subtenant; (j) the assignee or subtenant is involved in a business which is not in keeping with the then current standards of the Project; or (k) the assignee or subtenant is a governmental or quasi-governmental
entity or an agency, department or instrumentality of a governmental or quasi-governmental agency. 

 12.3 TRANSFER PREMIUM FROM
ASSIGNMENT OR SUBLETTING. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent
one-half of all amounts received by Tenant from the assignee or subtenant in excess of the amounts payable by Tenant to Landlord hereunder (the “Transfer Premium”). The Transfer Premium shall
be reduced by the reasonable brokerage commissions, tenant improvement costs and legal fees actually paid by Tenant in order to assign the Lease or to sublet all or part of the Premises. “Transfer Premium” shall mean all Base Rent,
additional rent or other consideration of any type whatsoever payable by the assignee or subtenant in excess of the Base Rent and additional rent payable by Tenant under this Lease. If less than all of the Premises is subleased, for purposes of
calculating the Transfer Premium, the Base Rent and the additional rent due under this Lease shall be allocated to the subleased premises on a per rentable square foot basis (e.g., if one-half of the Premises
is subleased, for purposes of determining the amount of the Transfer Premium, one-half of the Base Rent and additional rent due under this Lease would be allocated to the subleased premises, and this amount
would be subtracted from the base rent, additional rent and other monies payable to Tenant under the sublease). “Transfer Premium” shall also include, but not be limited to, key money and bonus money paid by the assignee or
subtenant to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to the assignee or subtenant or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to
the assignee or subtenant in connection with such Transfer. Landlord and Tenant agree that the foregoing Transfer Premium is reasonable. 

12.4 LANDLORD’S EXPENSES. In the event Tenant shall assign this
Lease or sublet the Premises or request the consent of Landlord to any Transfer, then Tenant shall pay Landlord’s reasonable out-of-pocket costs and expenses
incurred in connection therewith, including, but not limited to, attorneys’, architects’, accountants’, engineers’ or other consultants’ fees, in an amount not to exceed $2,500. 

13. DEFAULT; REMEDIES. 

13.1 DEFAULT BY TENANT. Landlord and Tenant hereby agree that the
occurrence of any one or more of the following events is a default by Tenant under this Lease and that said default shall give Landlord the rights described in Section 13.2. Landlord or Landlord’s authorized agent shall have the right to
execute and to deliver any notice of default, notice to pay rent or quit or any other notice Landlord gives Tenant. 
 (a) Tenant’s
failure to make any payment of Base Rent, Tenant’s Share of Common Area Expense increases, Tenant’s Share of Real Property Taxes, late charges, or any other payment required to be made by Tenant hereunder, as and when due, where such
failure shall continue for a period of three (3) business days after written notice thereof from Landlord to Tenant. 
 (b)
Tenant’s failure to make any payment of Base Rent, Tenant’s Share of Common Area Expenses, Tenant’s Share of Real Property Taxes, late charges, or any other payment required to be made by Tenant hereunder, as and when due, more than
three times in succession, or, in the case of Base Rent, more than four times in any twelve month period, 
 (c) The abandonment of the
Premises by Tenant coupled with the nonpayment of rent in which event Landlord shall not be obligated to give any notice of default to Tenant. 

(d) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by
Tenant (other than those referenced in Sections 13.1(a) and (b), above), where such failure shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant; provided, however, that if the nature of
Tenant’s non-performance is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said
thirty (30) day period and thereafter diligently pursues such cure to completion. 
 (e) (i) The making by Tenant or any guarantor
of Tenant’s obligations hereunder of any general arrangement or general assignment for the benefit of creditors; (ii) Tenant or any guarantor becoming a “debtor” as defined in 11 U.S.C. 101 or any successor statute thereto
(unless, in the case of a petition filed against Tenant or guarantor, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the
Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the
Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days; or (v) the insolvency of Tenant. In the event that any provision of this Section 13.1(d) is unenforceable under
applicable law, such provision shall be of no force or effect. 

 13.2 REMEDIES. 

(a) In the event of any default or breach of this Lease by Tenant, Landlord may, at any time thereafter, with or without notice or demand, and
without limiting Landlord in the exercise of any other right or remedy which Landlord may have by reason of such default: 
 (i) terminate
Tenant’s right to possession of the Premises by any lawful means, in which case this Lease and the term hereof shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. If Landlord terminates this Lease,
Landlord may recover from Tenant (A) the worth at the time of award of the unpaid rent which had been earned at the time of termination; (B) the worth at the time of award of the amount by which the unpaid rent which would have been earned
after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (C) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after
the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and (D) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform its
obligations under the Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of releasing, including necessary renovation and
alteration of the Premises, reasonable attorneys’ fees, any real estate commissions actually paid by Landlord and the unamortized value of any free rent, reduced rent, tenant improvement allowance or other economic concessions provided by
Landlord. The “worth at time of award” of the amounts referred to in Section 13.2(a)(i)(A) and (B) shall be computed by allowing interest at ten percent (10%) per annum. The worth at the time of award of the amount
referred to in Section 13.2(a)(i)(C) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). For purposes of this Section 13.2(a)(i),
“rent” shall be deemed to be all monetary obligations required to be paid by Tenant pursuant to the terms of this Lease; 

(ii) maintain Tenant’s right of possession in which event Landlord shall have the remedy described in California Civil Code
Section 1951.4 which permits Landlord to continue this Lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due. In the event Landlord elects to continue this Lease in effect, Tenant shall have the right to
sublet the Premises or assign Tenant’s interest in the Lease subject to the reasonable requirements contained in Section 12 of this Lease and provided further that Landlord shall not require compliance with any standard or condition
contained in Section 12 that has become unreasonable at the time Tenant seeks to sublet or assign the Premises pursuant to this Section 13.2(a)(ii); 

(iii) collect sublease rents (or appoint a receiver to collect such rent) and otherwise perform Tenant’s obligations at the Premises, it
being agreed, however, that the appointment of a receiver for Tenant shall not constitute an election by Landlord to terminate this Lease; and 

(iv) pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises
are located. 
 (b) No remedy or election hereunder shall be deemed exclusive, but shall, wherever possible, be cumulative with all other
remedies at law or in equity. The expiration or termination of this Lease and/or the termination of Tenant’s right to possession of the Premises shall not relieve Tenant of liability under any indemnity provisions of this Lease as to matters
occurring or accruing during the term of the Lease or by reason of Tenant’s occupancy of the Premises. 
 (c) If Tenant abandons the
Premises, Landlord may re-enter the Premises and such re-entry shall not be deemed to constitute Landlord’s election to accept a surrender of the Premises or to
otherwise relieve Tenant from liability for its breach of this Lease. No surrender of the Premises shall be effective against Landlord unless Landlord has entered into a written agreement with Tenant in which Landlord expressly agrees to accept a
surrender of the Premises and relieve Tenant of liability under the Lease. The delivery by Tenant to Landlord of possession of the Premises shall not constitute the termination of the Lease or the surrender of the Premises, unless agreed in writing
by Landlord. 
 13.3 DEFAULT BY LANDLORD. Landlord shall not be in
default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name
and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty
(30) days are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. 

13.4 LATE CHARGES AND DISHONORED CHECK
CHARGES. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Rent, Tenant’s Share of Common Area Expense or Real Property Taxes or other sums due hereunder, or payment of any of the
foregoing with a check that is dishonored, will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting
charges and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed encumbering the Project. Accordingly, if any installment of Base Rent, Tenant’s Share of Common Area Expense or Real Property Taxes, or any
other sum due from Tenant shall not be received by Landlord within five (5) days of the date when such amount shall be due, or if any check tendered by Tenant id dishonored by the issuing bank, then, without any requirement for notice or demand
to Tenant, Tenant shall immediately owe and pay to Landlord a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge and dishonored check charge represent a fair and reasonable estimate of the
costs Landlord will incur by reason of late payment by Tenant, or dishonored check. Acceptance of such late charge or dishonored check charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue
amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder including the assessment of interest under Section 13.5. Notwithstanding the foregoing, Landlord shall waive the application of such late charge
or dishonored check charge once per 12-month period provided that Tenant pays the delinquent or unpaid sum within five (5) business days after receipt of written notice from Landlord that such amount was
not paid when due. 

 13.5 INTEREST ON PAST-DUE OBLIGATIONS. Except as expressly herein provided, any amount due to Landlord that is not paid within five (5) days of the date when due shall bear
interest at the lesser of ten percent (10%) per annum or the maximum rate permitted by applicable law. Payment of such interest shall not excuse or cure any default by Tenant under this Lease; provided, however, that interest shall not be payable on
late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant. 
 13.6 PAYMENT
OF RENT AND SECURITY DEPOSIT AFTER DEFAULT. In addition to the remedies provided in section 13.1(b), if Tenant fails to
pay Base Rent, Tenant’s Share of Common Area Expense or Real Property Taxes or any other monetary obligation due hereunder on the date it is due and such nonpayment results in a default (beyond any applicable notice and cure period), then after
Tenant’s third failure to pay any monetary obligation on the date it is due, at Landlord’s option, all monetary obligations of Tenant hereunder shall thereafter be paid by cashier’s check, and Tenant shall, upon demand, provide
Landlord with an additional security deposit equal to three (3) multiplied by the monthly Base Rent due on the date of Landlord’s demand. If Landlord has required Tenant to make said payments by cashier’s check or to provide an
additional security deposit, Tenant’s failure to make a payment by cashier’s check or to provide the additional security deposit shall be a default hereunder. 

14. LANDLORD’S RIGHT TO CURE DEFAULT;
PAYMENTS BY TENANT. All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without
any reduction of rent. If Tenant shall fail to perform any of its obligations under this Lease, within a reasonable time after such performance is required by the terms of this Lease, Landlord may, but shall not be obligated to, after three
(3) days prior written notice to Tenant, make any such payment or perform any such act on Tenant’s behalf without waiving its rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. Tenant shall
pay to Landlord, within ten (10) days after delivery by Landlord to Tenant of statements therefore, an amount equal to the expenditures reasonably made by Landlord in connection with the remedying by Landlord of Tenant’s defaults pursuant
to the provisions of this Section 14. 
 15. CONDEMNATION. If any portion of the Premises or the
Project are taken under the power of eminent domain, or sold under the threat of the exercise of said power (all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning
authority takes title or possession, whichever first occurs; provided that if so much of the Premises or Project are taken by such condemnation as would substantially and adversely affect the operation and profitability of Tenant’s business
conducted from the Premises, and said taking lasts for ninety (90) days or more, Tenant shall have the option, to be exercised only in writing within thirty (30) days after Landlord shall have given Tenant written notice of such taking (or
in the absence of such notice, within thirty (30) days after the condemning authority shall have taken possession), to terminate this Lease as of the date the condemning authority takes such possession. If a taking lasts for less than ninety
(90) days, Tenant’s rent shall be abated during said period but Tenant shall not have the right to terminate this Lease. If Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and
effect as to the portion of the Premises remaining, except that the rent and Tenant’s Share of Common Area Expenses shall be reduced in the proportion that the usable floor area of the Premises taken bears to the total usable floor area of the
Premises. Common Areas taken shall be excluded from the Common Areas usable by Tenant and no reduction of rent shall occur with respect thereto or by reason thereof. Landlord shall have the option in its sole discretion to terminate this Lease as of
the taking of possession by the condemning authority, by giving written notice to Tenant of such election within thirty (30) days after receipt of notice of a taking by condemnation of any material part of the Premises or the Project. Any award
for the taking of all or any part of the Premises or the Project under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Landlord, whether such award shall be made as compensation for
diminution in value of the leasehold, for good will, for the taking of the fee, as severance damages, or as damages for tenant improvements; provided, however, that Tenant shall be entitled to any separate award for loss of or damage to
Tenant’s removable personal property and for moving expenses. In the event that this Lease is not terminated by reason of such condemnation, and subject to the requirements of any lender that has made a loan to Landlord encumbering the Project,
Landlord shall to the extent of severance damages received by Landlord in connection with such condemnation, repair any damage to the Project caused by such condemnation except to the extent that Tenant has been reimbursed therefor by the condemning
authority. This section, not general principles of law or California Code of Civil Procedure Sections 1230.010 et seq., shall govern the rights and obligations of Landlord and Tenant with respect to the condemnation of all or any portion of the
Project. 
 16. VEHICLE PARKING. Tenant shall have the right to 3.3 parking spaces per
1,000 square feet of the Premises, on an unassigned basis within the parking areas serving the Project. Tenant shall have use of the electric charging stations in the Project on a non-exclusive basis. Parking
shall be at no charge to Tenant. 
 17. BROKER’S FEE. Tenant and
Landlord each represent and warrant to the other that neither has had any dealings or entered into any agreements with any person, entity, broker or finder other than the persons, if any, listed in Section 1.13, in connection with the
negotiation of this Lease, and no other broker, person, or entity is entitled to any commission or finder’s fee in connection with the negotiation of this Lease, and Tenant and Landlord each agree to indemnify, defend and hold the other
harmless from and against any claims, damages, costs, expenses, attorneys’ fees or liability for compensation or charges which may be claimed by any such unnamed broker, finder or other similar party by reason of any dealings, actions or
agreements of the indemnifying party. Landlord shall pay all commissions owed to the brokers listed in Section 1.13 in connection with this Lease pursuant to a separate agreement. 

 18. DELIVERY OF
CERTIFICATE. Tenant shall from time to time upon not less than ten (10) days’ prior written notice from Landlord execute, acknowledge and deliver to Landlord a statement in writing certifying the
following: (a) that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and effect) (b) the date to which the Base
Rent and other charges are paid in advance and the amounts so payable, (c) that there are not, to Tenant’s knowledge, any uncured defaults or unfulfilled obligations on the part of Landlord, or specifying such defaults or unfulfilled
obligations, if any are claimed, (d) that all tenant improvements to be constructed by Landlord, if any, have been completed in accordance with Landlord’s obligations and (e) that Tenant has taken possession of the Premises. Any such
statement may be conclusively relied upon by any prospective purchaser or encumbrancer of the Project. 
 19. FINANCIAL
INFORMATION. From time to time, at Landlord’s request (but not more than once in any given 12-month period), Tenant shall cause the following financial information to
be delivered to Landlord, at Tenant’s sole cost and expense, upon not less than thirty (30) days’ advance written notice from Landlord, a current financial statement for Tenant and Tenant’s financial statements for the previous
two accounting years. All financial statements shall be prepared in accordance with accounting principles consistently applied and, if such is the normal practice of Tenant, shall be audited by an independent certified public accountant if such
audited financial statements are then available. 
 20. LANDLORD’S LIMITED
LIABILITY. Tenant acknowledges that Landlord shall have the right to transfer all or any portion of its interest in the Project and to assign this Lease to the transferee. Tenant agrees that in the event of such
a transfer (and assignment of this Lease to the transferee), Landlord shall automatically be released from all liability under this Lease; and Tenant hereby agrees to look solely to Landlord’s transferee for the performance of Landlord’s
obligations hereunder after the date of the transfer. Upon such a transfer, Landlord shall, at its option, return Tenant’s security deposit to Tenant or transfer Tenant’s security deposit to Landlord’s transferee and, in either event,
Landlord shall have no further liability to Tenant for the return of its security deposit. Subject to the rights of any lender holding a mortgage or deed of trust encumbering all or part of the Project, Tenant agrees to look solely to
Landlord’s equity interest in the Project for the collection of any judgment requiring the payment of money by Landlord arising out of (a) Landlord’s failure to perform its obligations under this Lease or (b) the negligence or
willful misconduct of Landlord, its partners, employees and agents. No other property or assets of Landlord shall be subject to levy, execution or other enforcement procedure for the satisfaction of any judgment or writ obtained by Tenant against
Landlord. No partner, employee, officer, director, member or agent of Landlord shall be personally liable for the performance of Landlord’s obligations hereunder or be named as a party in any lawsuit arising out of or related to, directly or
indirectly, this Lease and the obligations of Landlord hereunder. The obligations under this Lease do not constitute personal obligations of the individual partners of Landlord, if any, and Tenant shall not seek recourse against the individual
partners of Landlord or their assets. 
 21. INDEMNITY. Tenant hereby agrees to indemnify, defend and
hold harmless Landlord and its employees, members, officers, managers, partners, agents, property managers, contractors, lenders and ground lessors (said persons and entities are hereinafter collectively referred to as the “Indemnified
Parties”) from and against any and all liability, loss, cost, damage, claims, loss of rents, liens, judgments, penalties, fines, settlement costs, investigation costs, the cost of consultants and experts, attorney’s fees, court costs
and other legal expenses, the effects of environmental contamination, the cost of environmental testing, the removal, remediation and/or abatement of Hazardous Substances, insurance policy deductibles and other expenses (hereinafter collectively
referred to as “Damages”) arising out of or related to an “Indemnified Matter” (as defined below). For purposes of this Section 21, an “Indemnified Matter” shall mean any matter for which one
or more of the Indemnified Parties incurs liability or Damages if and to the extent the liability or Damages arise out of or involve, directly or indirectly, Tenant’s or its employees’, agents’, contractors’, invitees’,
vendors’, subtenants’ or other persons working in or visiting the Premises (all of said persons or entities are hereinafter collectively referred to as “Tenant Parties”) use or occupancy of the Premises or the Project, any
act or omission of a Tenant Party; Tenant’s breach of or non-compliance with, any of the provisions of this Lease, the existence, receipt, release, storage, use or disposal of any Hazardous Substance (as
defined in Section 23 below) brought on or to the Project by a Tenant Party; or any other matters for which Tenant has agreed to indemnify Landlord pursuant to any other provision of this Lease. Tenant’s obligations hereunder shall
include, but shall not be limited to compensating the Indemnified Parties for Damages arising out of Indemnified Matters within ten (10) days after written demand from an Indemnified Party and providing a defense, with counsel reasonably
satisfactory to the Indemnified Party, at Tenant’s sole expense, within ten (10) days after written demand from the Indemnified Party, of any claims, action or proceeding arising out of or relating to an Indemnified Matter whether or not
litigated or reduced to judgment and whether or not well founded. Landlord shall have the immediate and unconditional right, but not the obligation, without notice or demand to Tenant, to pay the Damages and Tenant shall, upon ten (10) days
advance written notice from Landlord, reimburse Landlord for the costs incurred by Landlord for any Damages to the Common Areas, another tenant’s premises or to any other part of the Project to be repaired, arising out of an Indemnified Matter.
The Indemnified Parties need not first pay any Damages to be indemnified hereunder. Tenant’s obligations under this section shall not be released, reduced or otherwise limited because one or more of the Indemnified Parties are or may be
actively or passively negligent with respect to an Indemnified Matter. This indemnity is intended to apply to the fullest extent permitted by applicable law. Tenant’s obligations under this section shall survive the expiration or termination of
this Lease unless specifically waived in writing by Landlord after said expiration or termination. 
 22.
SIGNS. Tenant shall place signage upon the Project (exterior to the Premises) with Landlord’s prior written consent, which consent shall not be unreasonably withheld or conditioned. Such signage
shall be installed and maintained by Tenant at Tenant’s sole expense and shall comply at all times with applicable laws. 

 23. HAZARDOUS SUBSTANCES. 

23.1 DEFINITION AND CONSENT. The term “Hazardous
Substance” as used in this Lease shall mean any product, substance, chemical, material or waste whose presence, nature, quantity and/or intensity of existence, use, manufacture, disposal, transportation, spill, release or affect, either by
itself or in combination with other materials expected to be on the Premises, is either: (a) potentially injurious to the public health, safety or welfare, the environment, or the Premises, (b) regulated or monitored by any governmental
entity, (c) a basis for liability of Landlord to any governmental entity or third party under any federal, state or local statute or common law theory or (d) defined as a hazardous material or substance by any federal, state or local law
or regulation. Tenant shall not cause or permit any Hazardous Substance to be delivered to, brought, kept, stored, released, disposed of, or used in or about the Premises or the Project by Tenant, its agents, employees, contractors or invitees in
violation of applicable laws, regulations, codes, and /or ordinances. 
 23.2 DUTY TO
INFORM LANDLORD. If Tenant knows, or has reasonable cause to believe, that a Hazardous Substance, or a condition involving or resulting from same, has come to be located in, on or under or about
the Premises or the Project in violation of applicable laws, Tenant shall immediately give written notice of such fact to Landlord. Tenant shall also immediately give Landlord (without demand by Landlord) a copy of any statement, report, notice,
registration, application, permit, license, given to or received from, any governmental authority or private party, or persons entering or occupying the Premises, concerning the presence, spill, release, discharge of or exposure to, any Hazardous
Substance or contamination in, on or about the Premises or the Project. 
 23.3 INSPECTION;
COMPLIANCE. Landlord and Landlord’s employees, agents, contractors and lenders shall have the right to enter the Premises at any time in the case of an emergency, and otherwise at reasonable times, for the
purpose of inspecting the condition of the Premises and for verifying compliance by Tenant with this Section 23. Landlord shall have the right to employ experts and/or consultants in connection with its examination of the Premises and with
respect to the installation, operation, use, monitoring, maintenance, or removal of any Hazardous Substance on or from the Premises. The costs and expenses of any such inspections shall be paid by the party requesting same, unless a contamination,
caused or materially contributed to by Tenant, is found to exist or be imminent, or unless the inspection is requested or ordered by governmental authority as the result of any such existing or imminent violation or contamination. In any such case,
Tenant shall upon request reimburse Landlord for the cost and expenses of such inspection. 
 23.4 NO
LIABILITY FOR ACTS OF OTHERS. Notwithstanding anything to the contrary contained in this Lease, Tenant shall only be liable pursuant to this
Section 23 for the acts of Tenant and Tenant Parties, and Tenant shall not be liable for the acts of persons or entities other than Tenant and Tenant Parties nor shall Tenant be responsible or liable for contamination that existed at the
Premises on the Commencement Date or for contamination emanating from neighboring land. 
 24.
SUBORDINATION. 
 24.1 EFFECT OF
SUBORDINATION. This Lease, and any Option granted hereby, upon Landlord’s written election, shall be subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or
security now or hereafter placed upon the Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant’s
right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to
its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its
mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or
subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord
or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or
(d) be liable to Tenant for the return of its security deposit. 
 24.2 EXECUTION OF
DOCUMENTS. Tenant agrees to execute and acknowledge any commercially reasonable documents Landlord reasonably requests that Tenant execute to effectuate an attornment, subordination, and non-disturbance to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. 

25. OPTION TO EXTEND. 

25.1 OPTION GRANT. Provided no outstanding Event of Default exists under the terms
and conditions of the Lease at the time Tenant delivers the notice required by section 25(a), and, in Landlord’s reasonable judgment, Tenant’s ability to meet its obligations under this Lease is at least equal to its ability to meet said
obligations on the date this Lease is entered into, Landlord hereby grants to Tenant an option to extend the term of the Lease for two (2) thirty (30)-month periods (each, an “Extension Option”) commencing when the then
expiring term expires, upon each and all of the following terms and conditions: 

 (a) On a date which is prior to the date that the option period would commence (if
exercised) by at least one hundred eighty (180) days and not more than three hundred sixty (360) days, Landlord shall have received from Tenant a written notice of the exercise of the option to extend the Lease for said additional term (an
“Exercise Notice”), time being of the essence. If the Exercise Notice is not so given and received, the Extension Option shall automatically expire, Tenant shall no longer have the right to give an Exercise Notice and this section
shall be of no further force or effect. 
 (b) All of the terms and conditions of the Lease except where specifically modified by this
section shall apply. 
 (c) The monthly Base Rent payable during the option term shall be ninety-five (95%) of the then fair market rental
value, as determined in accordance with section 25.2. 
 (d) Landlord shall have the right to require Tenant to execute and to deliver to
Landlord an amendment to the Lease that accurately sets forth the extended term of the Lease and the new Base Rent. Landlord’s election not to require Tenant to execute an amendment shall not invalidate Tenant’s exercise of the Extension
Option. 
 25.2 DETERMINATION OF FAIR MARKET
VALUE. Upon the commencement of the extension term, the Base Rent shall be an annual amount equal to ninety-five percent (95%) of the fair market rental value of the Premises in its then current condition, use
and configuration, and without regard to any other possible condition, use, configuration or land use entitlements or restrictions with respect to the Premises, determined as follows (“Fair Market Rent”): 

(a) Landlord shall deliver to Tenant written notice of Landlord’s determination of fair market rental value within thirty (30) days
after Landlord receives notice from Tenant that Tenant has exercised the Extension Option. 
 (b) If Tenant disputes Landlord’s
determination of the fair market rental value as contained in Landlord’s notice, Tenant shall notify Landlord in writing within twenty (20) days of its receipt of Landlord’s determination, which notice shall set forth Tenant’s
determination of the fair market rental value. Should Tenant timely notify Landlord as aforesaid, Landlord and Tenant shall attempt to resolve their differences within twenty (20) days following Landlord’s receipt of Tenant’s notice.
Should Tenant fail to timely notify Landlord as aforesaid, then ninety-five percent (95%) of Landlord’s determination of fair market rental value as contained in Landlord’s notice shall constitute the Fair Market Rent. 

(c) Should Tenant timely notify Landlord as aforesaid and if Landlord and Tenant cannot agree on fair market rental value during such ten
(10) day period, Landlord and Tenant shall each appoint a disinterested commercial real estate broker specializing in the leasing of similarly situated real property in San Mateo County for at least ten (10) years and give notice of such
appointment to the other within ten (10) days after the preceding ten (10) day period. If either Landlord or Tenant shall fail timely to appoint a broker, then the single broker appointed by one party shall proceed to make the
determination of fair market rental value. Such broker(s) shall, within thirty (30) days after the appointment of the last of them to be appointed, complete their written determinations of fair market rental value and furnish the same to
Landlord and Tenant. Each party shall pay the fees and costs of the broker appointed by it. If the valuations vary by 5% or less of the lower value, the fair market rental value shall be the average of the two valuations. 

(d) If the valuations vary by more than 5% of the lower value, the two brokers shall, within ten (10) days after submission of the last
appraisal report, appoint a third disinterested broker satisfying the same qualifications. If the two brokers shall be unable to agree in a timely manner on the selection of the third broker, then either broker, on behalf of both, may request
appointment of such third disinterested broker by the presiding judge of the Superior Court of the county in which the Premises are located or through the American Arbitration Association process. Such third broker shall, within thirty
(30) days after appointment, select one of the two valuations submitted by the first two brokers as such third broker’s determination of fair market rental value, and shall submit such decision to Landlord and Tenant. The fair market
rental value of the Premises as determined by the third broker shall be controlling. All fees and costs incurred in connection with the determination of fair market rental value by the third broker shall be paid
one-half by Landlord and one-half by Tenant. 
 (e) All
valuations done pursuant to this Section 25.2 shall be based on leases of similar office, research & development, and lab flex buildings in the cities of Foster City, Redwood Shores and San
Mateo. 
 26. HOLDING OVER. If Tenant remains in possession of the Premises or any part
thereof after the expiration or earlier termination of the term hereof with Landlord’s consent, such occupancy shall be a tenancy from month to month upon all the terms and conditions of this Lease pertaining to the obligations of Tenant,
except that the Base Rent payable shall be one hundred twenty five percent (125%) of the Base Rent payable immediately preceding the termination date of this Lease, and all Options, if any, shall be deemed terminated and be of no further effect. If
Tenant remains in possession of the Premises or any part thereof after the expiration of the term hereof without Landlord’s consent, Tenant shall, at Landlord’s option, be treated as a tenant at sufferance. Nothing contained herein shall
be construed to constitute Landlord’s consent to Tenant holding over at the expiration or earlier termination of the Lease term or to give Tenant the right to hold over after the expiration or earlier termination of the Lease term. 

 27. LANDLORD’S ACCESS.

 27.1 ACCESS. Landlord and Landlord’s agents, contractors and employees shall have the
right to enter the Premises at reasonable times upon reasonable advance telephonic notice to Tenant (except in the case of any emergency, where no advance notice shall be required) for the purpose of inspecting the Premises, performing any services
required of Landlord, showing the Premises to prospective purchasers, lenders, or tenants (within the last 6 months of the term), undertaking safety measures and making alterations, repairs, improvements or additions to the Premises or to the
Project. Tenant shall provide Landlord with any security codes needed by Landlord to gain such access. In the event of an emergency, Landlord may gain access to the Premises by any reasonable means, and Landlord shall not be liable to Tenant for
damage to the Premises or to Tenant’s property resulting from such access. Landlord may at any time place on or about the Building or the Project for sale or for lease signs. Landlord shall comply with Tenant’s reasonable security measures
in connection with such access by Landlord. 
 27.2 KEYS. Landlord shall have the right to
retain keys to the locks on the entry doors to the Premises and all interior doors at the Premises (with the exception of Tenant’s secured areas). In the event locks are changed, Tenant shall notify Landlord and provide Landlord with
replacement keys. 
 28. SECURITY MEASURES. Tenant hereby acknowledges that Landlord shall
have no obligation whatsoever to provide guard service or other security measures for the benefit of the Premises or the Project, and Landlord shall have no liability to Tenant due to its failure to provide such services. Tenant assumes all
responsibility for the protection of Tenant, its agents, employees, contractors and invitees and the property of Tenant and of Tenant’s agents, employees, contractors and invitees from acts of third parties. Nothing herein contained shall
prevent Landlord, at Landlord’s sole option, from implementing security measures for the Project or any part thereof, in which event Tenant shall participate in such security measures and the cost thereof shall be included within the definition
of Common Area Expenses, and Landlord shall have no liability to Tenant and its agents, employees, contractors and invitees arising out of Landlord’s negligent provision of security measures. Landlord shall have the right, but not the
obligation, to require all persons entering or leaving the Project to identify themselves to a security guard and to reasonably establish that such person should be permitted access to the Project. In no event shall Tenant or its employees, agents
or contractors bring firearms or other weapons to the Project or the Premises, and Tenant shall not have the right to employ armed security guards. 

29. EASEMENTS. Landlord reserves to itself the right, from time to time, to grant such easements, rights
and dedications that Landlord deems necessary or desirable, and to cause the recordation of parcel maps and restrictions, so long as such easements, rights, dedications, maps and restrictions do not unreasonably interfere with the use of the
Premises by Tenant. 
 30. SEVERABILITY. The invalidity of any provision of this Lease as determined by a
court of competent jurisdiction shall in no way affect the validity of any other provision hereof. 
 31. TIME OF
ESSENCE. Time is of the essence with respect to each of the obligations to be performed by Tenant and Landlord under this Lease. 

32. DEFINITION OF ADDITIONAL RENT. All monetary obligations of
Tenant to Landlord under the terms of this Lease, including, but not limited to, Base Rent, Tenant’s Share of Common Area Expenses and Real Property Taxes and late charges shall be deemed to be rent. 

33. INCORPORATION OF PRIOR AGREEMENTS. This Lease and the
Exhibits contain all agreements of the parties with respect to the lease of the Premises and any other matter mentioned herein. No prior or contemporaneous agreement or understanding pertaining to any such matter shall be effective. Except as
otherwise stated in this Lease, Tenant hereby acknowledges that no real estate broker nor Landlord or any employee or agents of any of said persons has made any oral or written warranties or representations to Tenant concerning the condition or use
by Tenant of the Premises or the Project or concerning any other matter addressed by this Lease. 
 34.
AMENDMENTS. This Lease may be modified in writing only, signed by the parties in interest at the time of the modification. One or more emails signed by one or more parties shall never constitute a
writing signed by the parties that is capable of amending or modifying the Lease. 
 35. NOTICES. All
notices required or permitted by this Lease shall be in writing and may be delivered (a) in person (by hand, by messenger or by courier service), (b) by U.S. Postal Service regular mail, (c) by U.S. Postal Service certified mail, return
receipt requested or (d) by U.S. Postal Service Express Mail, Federal Express or other overnight courier, and shall be deemed sufficiently given if served in a manner specified in this Section 35. Notices may not be given by email, and
email notices shall not be binding on Landlord or Tenant for any purpose. Any notice permitted or required hereunder, and any notice to pay rent or quit or similar notice, shall be deemed personally delivered to Tenant on the date the notice is
personally delivered to any employee of Tenant at the Premises. The addresses set forth in Section 1.15 of this Lease shall be the address of each party for notice purposes. Landlord or Tenant may by written notice to the other specify a
different address for notice purposes, except that upon Tenant’s taking possession of the Premises, the Premises shall constitute Tenant’s address for the purpose of mailing or delivering notices

 
to Tenant. A copy of all notices required or permitted to be given to Landlord hereunder shall be concurrently transmitted to such party or parties at such addresses as Landlord may from time to
time hereinafter designate by written notice to Tenant. Any notice sent by regular mail or by certified mail, return receipt requested, shall be deemed given three (3) days after deposited with the U.S. Postal Service. Notices delivered by U.S.
Express Mail, Federal Express or other courier shall be deemed given on the date delivered by the carrier to the appropriate party’s address for notice purposes. If notice is received on Saturday, Sunday or a legal holiday, it shall be deemed
received on the next business day. Nothing contained herein shall be construed to limit Landlord’s right to serve any notice to pay rent or quit or similar notice by any method permitted by applicable law, and any such notice shall be effective
if served in accordance with any method permitted by applicable law whether or not the requirements of this section have been met. 
 36.
WAIVERS. No waiver by Landlord or Tenant of any provision hereof shall be deemed a waiver of any other provision hereof or of any subsequent breach by Landlord or Tenant of the same or any other
provision. The acceptance of rent hereunder by Landlord shall not be a waiver of any preceding breach by Tenant of any provision hereof, other than the failure of Tenant to pay the particular rent so accepted, regardless of Landlord’s knowledge
of such preceding breach at the time of acceptance of such rent. No acceptance by Landlord of partial payment of any sum due from Tenant shall be deemed a waiver by Landlord of its right to receive the full amount due, nor shall any endorsement or
statement on any check or accompanying letter from Tenant be deemed an accord and satisfaction. Tenant hereby waives California Code of Civil Procedure Section 1179 and Civil Code Section 3275 which allow tenants to obtain relief from the
forfeiture of a lease, and Tenant hereby waives any claim it may have against Landlord based on Landlord’s failure to comply with Section 1938 of the California Civil Code. 

37. BINDING EFFECT; CHOICE OF LAW. Subject to
any provision hereof restricting assignment or subletting by Tenant, this Lease shall bind the parties, their heirs, personal representatives, successors and assigns. This Lease shall be governed by the laws of the state in which the Project is
located and any litigation concerning this Lease between the parties hereto shall be initiated in the county in which the Project is located. 
 38.
ATTORNEYS’ FEES. If Landlord or Tenant brings an action to enforce the terms hereof or declare rights hereunder, the prevailing party in any such action, or appeal thereon, shall be
entitled to its reasonable attorneys’ fees and court costs to be paid by the losing party as fixed by the court in the same or separate suit, and whether or not such action is pursued to decision or judgment. The attorneys’ fee award shall
not be computed in accordance with any court fee schedule, but shall be such as to fully reimburse all attorneys’ fees and court costs reasonably incurred in good faith. Landlord shall be entitled to reasonable attorneys’ fees and all
other costs and expenses incurred in the preparation and service of notices of default and consultations in connection therewith, whether or not a legal action is subsequently commenced in connection with such default. Landlord and Tenant agree that
attorneys’ fees incurred with respect to defaults and bankruptcy are actual pecuniary losses within the meaning of Section 365(b)(1)(B) of the Bankruptcy Code or any successor statute. 

39. WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY
APPLICABLE LAW, LANDLORD AND TENANT HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, COUNTERCLAIM OR CROSS-COMPLAINT IN ANY ACTION, PROCEEDING AND/OR HEARING BROUGHT BY EITHER LANDLORD AGAINST TENANT OR TENANT
AGAINST LANDLORD ON ANY MATTER WHATSOEVER ARISING OUT OF, OR IN ANY WAY CONNECTED WITH, THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, OR ANY CLAIM OF INJURY OR DAMAGE, OR THE ENFORCEMENT OF ANY
REMEDY UNDER ANY LAW, STATUTE, OR REGULATION, EMERGENCY OR OTHERWISE, NOW OR HEREAFTER IN EFFECT. 
 40.
MERGER. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, or a termination by Landlord, shall not result in the merger of Landlord’s and Tenant’s
estates, and shall, at the option of Landlord, terminate all or any existing subtenancies or may, at the option of Landlord, operate as an assignment to Landlord of any or all of such subtenancies. 

41. QUIET POSSESSION. Subject to the other terms and conditions of this Lease, and the
rights of any lender, and provided Tenant is not in default hereunder, Tenant shall have quiet possession of the Premises for the entire term hereof subject to all of the provisions of this Lease. 

42. AUTHORITY. If Tenant is a corporation, trust, general or limited partnership, or limited liability
company, Tenant, and each individual executing this Lease on behalf of such entity, represents and warrants that such individual is duly authorized to execute and deliver this Lease on behalf of said entity, that said entity is duly authorized to
enter into this Lease, and that this Lease is enforceable against said entity in accordance with its terms. If Tenant is a corporation, trust, partnership or limited liability company, Tenant shall deliver to Landlord upon demand evidence of such
authority satisfactory to Landlord. 
 43. CONFLICT. Any conflict between the typewritten provisions of
this Lease and handwritten provisions, if any, shall be controlled by the handwritten provisions; provided, however, handwritten provisions shall have no force or effect unless separately initialed by both Landlord and Tenant. 

 44. MULTIPLE PARTIES. If more than one
person or entity is named as Tenant herein, the obligations of Tenant shall be the joint and several responsibility of all persons or entities named herein as Tenant. Service of a notice on one Tenant shall be deemed service of notice on all
Tenants. 
 45. INTERPRETATION. This Lease shall be interpreted as if it was prepared by both parties and
ambiguities shall not be resolved in favor of Tenant or Landlord. The captions contained in this Lease are for convenience only and shall not be deemed to limit or alter the meaning of this Lease. As used in this Lease the words tenant and landlord
include the plural as well as the singular. Words used in the neuter gender include the masculine and feminine gender. 
 46.
PROHIBITION AGAINST RECORDING. Neither this Lease, nor any memorandum, affidavit or other writing with respect thereto, shall be recorded by Tenant or by anyone acting
through, under or on behalf of Tenant. Landlord shall have the right to record a memorandum of this Lease, and Tenant shall execute, acknowledge and deliver to Landlord for recording any memorandum prepared by Landlord. 

47. RELATIONSHIP OF PARTIES. Nothing contained in this Lease shall be deemed
or construed by the parties hereto or by any third party to create the relationship of principal and agent, partnership, joint venturer or any association between Landlord and Tenant. 

48. RIGHT TO LEASE. Landlord reserves the absolute right to effect such other
tenancies in the Project as Landlord in its sole discretion shall determine, and Tenant is not relying on any representation that any specific tenant or number of tenants will occupy the Project. Landlord represents and warrants to Tenant that
Landlord is the owner of the Building, is in good standing with its state of formation and is qualified to do business in the State of California. Tenant represents and warrants to Landlord that Tenant is in good standing with its state of formation
and is qualified to do business in the State of California. 
 49. SECURITY FOR PERFORMANCE
OF TENANT’S OBLIGATIONS. Notwithstanding any security deposit held by Landlord pursuant to Section 5, Tenant hereby agrees that in the event of a default by
Tenant, Landlord shall be entitled to seek and obtain a writ of attachment and/or a temporary protective order and Tenant hereby waives any rights or defenses to contest such a writ of attachment and/or temporary protective order on the basis of
California Code of Civil Procedure Section 483.010 or any other related statute or rule. 
 50.
ATTACHMENTS. The Exhibits are a part of this Lease and are incorporated herein by this reference. 
 51.
PATRIOT ACT. Tenant represents to Landlord that, (i) neither Tenant nor any person or entity that directly owns a 10% or greater equity interest in it nor any of its officers,
directors or managing members is a person or entity (each, a “Prohibited Person”) with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control
(“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under Executive Order 13224 (the “Executive Order”) signed on September 24,
2001, and entitled “Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action, (ii) Tenant’s activities do not violate the International Money
Laundering Abatement and Financial Anti-Terrorism Act of 2001 or the regulations or orders promulgated thereunder (as amended from time to time, the “Money Laundering Act”) and (iii) throughout the term of this Lease, Tenant shall
comply with the Executive Order and with the Money Laundering Act. 
 52. COUNTERPARTS. This Lease and
any documents or addenda attached hereto (collectively, the “Documents”) may be executed in two or more counterpart copies, each of which shall be deemed to be an original and all of which together shall have the same force and
effect as if the parties had executed a single copy of the Document. Counterparts may be exchanged electronically by email PDF. 
 [Signature
page follows] 

 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be executed as of the date first
referenced above. 
  

			
	LANDLORD:
	
	 Gray Peak Fork, LLC, a Nevada limited

liability company

		
	By:	 	 /s/ Fred C. Bertetta, Ill

		
		 	 Fred C. Bertetta, Ill

		 	(print name)
		
	Its:	 	 President

		 	(print title)
		
	AND	 	
	
	Gray Peak Fork, Series A, LLC, a Nevada
	limited liability company
		
	By:	 	 /s/ Fred C. Bertetta, Ill

		
		 	 Fred C. Bertetta, Ill

		 	(print name)
		
	Its:	 	President
		 	(print title)
		
	TENANT:	 	
	
	SutroVax, Inc., a Delaware corporation
		
	By:	 	 /s/ Grant E. Pickering

		
		 	 Grant E. Pickering

		 	(print name)
		
	Its:	 	 President

		 	(print title)

 EXHIBIT A 

PREMISES 
  
 

 

 EXHIBIT B 

PROJECT SITE 
  

 

 EXHIBIT C 

VERIFICATION LETTER 
 SutroVax,
Inc. a Delaware corporation (“Tenant”) and Gray Peak Fork, LLC a Nevada limited liability company (“Landlord”) agree to the following information as of the 22nd day of July, 2016: 

 

					
	Address of Building	  	:	  	353 Hatch Drive
			
		  		  	Foster City, CA 94404
			
	Number of Rentable Square Feet in Premises	  	:	  	± 13,173 square feet
			
	Commencement Date	  	:	  	September 1, 2016
			
	Lease Termination Date	  	:	  	August 31, 2021
			
	Initial Base Rent	  	:	  	$32,932.50
			
	Billing Address for Tenant	  	:	  	SutroVax Inc.
			
		  	:	  	 353 Hatch Drive
  

Foster City, CA 94404

			
	Attention	  	:	  	Accounts Payable
			
	Telephone Number	  	:	  	(650) 549-7507
			
	Federal Tax I.D. No.	  	:	  	46-4233385

  

															
	LANDLORD:	 	    	 	TENANT
			
	Gray Peak Fork, LLC, a Nevada limited liability company	 		 	SutroVax, Inc., a Delaware corporation
						
	By:	 		 	 /s/ Fred C. Bertetta, III
	 		 	By:	 	 /s/ Grant E. Pickering 

						
		 		 	 Fred C. Bertetta, III
	 		 		 	 Grant E. Pickering

		 		 		 	(print name)	 		 		 		 	(print name)
								
		 		 	Its:	 	  
	 		 		 	Its:	 	 President

		 		 		 	(print title)	 		 		 		 	(print title)
					
	AND	 		 		 		 	
					
	Gray Peak Fork, Series A, LLC, a Nevada limited liability company	 		 		 		 	
							
	By:	 		 	 /s/ Fred C. Bertetta, III
	 		 		 		 	
							
		 		 	 Fred C. Bertetta, III
	 		 		 		 	
		 		 		 	(print name)	 		 		 		 	
								
		 		 	Its:	 	  
	 		 		 		 	
		 		 		 	(print title)

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