Document:

EX-4.24

 Exhibit 4.24 

Certain portions of this exhibit have been omitted because they are not 

material and the registrant customarily and actually treats 

that information as private or confidential. 

THIS amended and restated agreement is made as of March 24, 2021, between Celyad Inc., a Delaware corporation (the
“Corporation”), and Stephen Rubino (the “Employee”). 
 Introduction 

The Corporation is engaged in research and development of biological pharmaceutical products or medical devices, solely or in combination (the
“Business”). 
 The Corporation is a wholly owned subsidiary of Celyad Oncology SA, a publicly listed company on Euronext
Brussels, Euronext Paris and Nasdaq, with registered offices in Mont-Saint-Guibert, Rue Edouard Belin 2, Belgium (“Celyad”); 

Celyad and its subsidiaries and affiliates, including the Corporation, comprise the “Celyad Group”; 

The Corporation wishes to retain the services of Employee at his Home Office (the “Corporate Office”). 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows: 
 1. Employment. As of the Employment Date, defined below, the Employee will be employed by the Corporation. The
Corporation and the Employee acknowledge and accept the Employee’s employment upon the terms and conditions hereinafter set forth. Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall be construed to alter
the at-will nature of the Employee’s employment, nor shall anything in this Agreement or any benefit program be construed as providing the Employee with a definite term of employment. 

2. Term. Employee’s employment has started on February 1, 2020 (the “Employment Date”). 

3. Duties. 
 (a)
Employee initially shall serve as Chief Business Officer for the Corporation reporting directly to the Chief Executive Officer (the “Employee Supervisor”). The Employee’s reporting relationship may be changed by the Corporation. 

(b) The Employee shall be responsible for such duties as may be reasonably assigned from time to time by the Employee Supervisor or other
authorized designee of the Corporation, including without limitation the following duties which may be changed from time to time by the Corporation or the Employee Supervisor    (collectively, the “Services”). 

 4. Compensation. 

(a) In consideration for the Services, the Corporation shall pay Employee a salary at the annual rate of [***] (“Base Salary”). The
Base Salary may be adjusted from time to time by the Corporation. Payments of Base Salary shall be made in accordance with the Corporation’s payroll practices. 

(b) Employee shall be eligible for a target annual bonus equal to of the Base Salary if Employee achieves performance milestones defined at or
reasonably promptly after the beginning of each year by the Corporation in its sole discretion. Notwithstanding anything to the contrary in this Section 4(b), whether a bonus is awarded, the bonus target and the amount of any bonus shall be
determined by the Corporation and/or Celyad in their sole discretion. To earn any bonus, Employee must be employed by the Corporation on the date the bonus is paid. For the avoidance of doubt, Employee shall not be eligible for any pro rata bonus in
connection with the Employee’s termination for any reason. 
 (c) Subject to the approval of the Board of Directors of Celyad and/or
the Corporation as applicable (the “Board”), the Employee may be eligible to participate in Celyad’s warrant plans (or similar long-term incentives) in effect from time to time. More specifically, subject to the Boards’ approval,
to the Employee’s employment with Celyad on the applicable grant date and to employee’s performance, the Employee will be entitled to an annual grant of [***] warrants. For the avoidance of doubt, Employee understands that under Belgian
law, stock warrant plans are proposed by the Celyad Board and approved by the General Meeting of Celyad’s shareholders and the amount of warrants allocated to employees under an approved warrant plan is determined exclusively by the Celyad
Board. 
 (d) All compensation paid to Employee shall be subject to taxes and other withholdings. 

5. Expenses and Travel.  

Employee shall be entitled to receive prompt reimbursement for all reasonable, documented expenses incurred by Employee in performing the
Services hereunder, including all reasonable expenses of travel and living while away from home, provided that such expenses are incurred and accounted for in accordance with the policies and procedures established by the Corporation. 

6. Medical, Vacation and Other Benefits. 

Employee shall be entitled to receive certain benefits applicable to employees of Celyad Group, which currently include dental and health care
plans, in each case in accordance with the terms of such plans 
 Employee shall receive twenty (20) days of vacation annually, in
addition to all legal U.S. Federal holidays, both paid at the expense of the Corporation. Such vacation shall be subject to Corporation policy in all respects. In the absence of such policy, such vacation shall accrue ratably and shall not roll over
from year to year. 

 Employee shall be eligible for the Corporation’s 401(k) plan on the first day of the
first month following Employee’s first day of employment. Currently, on an annual basis, the Corporation pays, at no additional cost to the Employee, a contribution equivalent to % of the Employee’s Base Salary, subject to Employee’s
employment with the Corporation on the date such contribution is made. 
 Notwithstanding this foregoing Section 6, any member of the
Celyad Group may alter the terms and conditions of any employee benefit plan, program or agreement, or eliminate any such plan, program or agreement, at any time in such entity’s discretion. 

7. Performance of Services. During the term of this Agreement, Employee shall use Employee’s best efforts to promote the interests
of the Celyad Group and shall devote Employee’s full time and efforts to its Business and affairs in an honest and ethical manner in compliance with this Agreement and all applicable laws, rules and regulations, promulgated from time to time,
applicable to the Business, including the federal, state and municipal non-discrimination laws in the United States, rules and regulations. Except for vacation, sick time and other Company-approved leaves of
absence subject to Company policies, the employee is expected to and shall work 40 hours per week at minimum. The Employee shall not engage in any other activity that could reasonably be expected to interfere with the performance of Employee’s
duties, responsibilities and services hereunder subject to Section 9 below. Services described above will be principally carried out by Employee at his home office when not traveling. The Employee currently serves as an Independent member of
the Board of Directors for Viracta Therapeutics (Cardiff, CA, USA) and Sermonix Pharmaceuticals (Columbus, Ohio, USA). Employee has the ability to serve on a maximum of two (2) Boards of Directors providing (i) there is no conflict of
interest per Section 9 below, and (ii) Employee utilizes personal time to satisfy Board activities. In addition, Employee has an existing consulting agreement with Daewoong Pharmaceuticals (Seoul, Korea) to conduct negotiations and execute
a licensing agreement. Employee will terminate the Daewoong consulting agreement at the conclusion of related activities and Employee will utilize personal time to satisfy the remainder of the consulting activities. 

8. Employee Representations. Employee represents and warrants to the Celyad Group that Employee is qualified to perform the services
under this Agreement and that neither Employee’s execution of the Agreement, nor Employee’s performance of such services is limited or prohibited by, and will not cause a conflict of interest or breach of, any law, regulation, agreement,
understanding, order, judgment, decree or other instrument, contract, or document to which Employee is a party or subject, including without limitation any confidentiality or restrictive covenant agreement with any prior employer. 

9. Conflicts of Interest. Employee confirms that Employee has advised the Celyad Group in writing prior to the date of signing this
Agreement of any current relationship with third parties, including competitors of Celyad Group. The Chief Executive Officer of Celyad and Employee will review each of those relationships and determine together which ones need to be terminated due
to a conflict of interest, or prohibition of Employee carrying out the terms of this Agreement, or which would present a significant risk of disclosure of Confidential Information.  

 10. Exclusivity. For the duration of this Agreement, Employee shall provide services
exclusively to Celyad Group and Employee shall not seek, accept or perform any consulting or other services (whether or not for compensation) without the specific and written approval of the Chief Executive Officer of Celyad, or its designee, with
the exception of the Board and consulting activities described in Section 7. 
 11. Restrictive Covenants. 

(a) During the term of this Agreement and for a period of twelve (12) months after the date of termination of Employee’s employment,
regardless of the reason for such termination, Employee will not, directly or indirectly, whether as an officer, director, employee, consultant, contractor, equity owner or agent of, or otherwise advise or participate in the ownership or operation
of (i) any cell therapy company developing CAR T therapies involving or targeting NK receptors or their ligands, or any allogeneic CAR T therapies, or (ii) any other business activity that competes directly with the business activity
referred to above (in section 11. a (i)) of the Corporation or any subsidiary of the Corporation. Nothing in this Section 11(a) shall be deemed to prohibit Employee from investing in any company engaged in such business, the stock of which is
available in a public securities market; provided, however, that Employee shall not own in excess of five percent (5%) of the total issued and outstanding stock of such company. 

(b) During Employee’s employment and for a period of one (1) year after the termination of such employment, regardless of the reason
for such termination, Employee will not, directly or indirectly, solicit, recruit, endeavor to entice away, hire, attempt to hire, or otherwise materially interfere with the business relationship of any member of the Celyad Group with, any person
who is, or was within the twelve (12) month period immediately prior to the termination of Employee’s employment with the Corporation, employed or engaged (whether as an employee, independent contractor or otherwise) by any member of the
Celyad Group. 
 (c) During Employee’s employment and for a period of one (1) year after the termination of such employment,
regardless of the reason for such termination, Employee will not, directly or indirectly, solicit, recruit endeavor to entice, do business with, or materially interfere with the business relationship of any member of the Celyad Group with, any
person or entity who is, or was within the twelve (12) month period immediately prior to such termination, a customer, client or supplier to or of the Celyad Group. 

(d) During and after Employee’s employment, Employee agrees not to make any disparaging statements concerning the Corporation or any of
its affiliates, products, services or current or former officers, directors, shareholders, employees or agents, except in the context of performing Employee’s legitimate duties to the Corporation during Employee’s employment with the
Corporation. 
 12. Confidentiality of Information. Employee recognizes and acknowledges that the trade secrets of the Celyad Group
and all other confidential and proprietary information of a business, financial, personal or other nature, including without limitation, scientific and technical information and improvements thereon, data from or results of clinical trials, patient
information, lists of the Celyad Group’s actual and prospective customers, financial information and business and marketing plans, as they exist from time to time (collectively, the “Confidential Information”), are a valuable and
unique asset of the Celyad Group and therefore agrees that Employee will not, either during or after the term of Employee’s employment for a period of three (3) years, disclose 

 
any Confidential Information concerning any entity in the Celyad Group, to any person, firm, corporation, association or other entity, for any reason whatsoever, unless previously authorized in
writing to do so by the Chief Executive Officer of Celyad. The term “Confidential Information” shall not include any information that (i) is or becomes publicly available through no direct or indirect action of the Employee; or
(ii) is required to be disclosed by a court of competent jurisdiction or pursuant to any arbitration, provided that Employee first gives notice of such disclosure requirement to the Corporation. Employee shall not at any time, make any
use whatsoever, directly or indirectly, of Confidential Information, except as required in connection with the performance of Services. 

13. Injunctive Relief. The Employee acknowledges that a breach of any of the provisions contained in Sections 11 or 12 would result in
irreparable injury to the Celyad Group for which there may be no adequate remedy at law and that, in the event of an actual or threatened breach by the Employee of the provisions of Sections 11 or 12, any member of the Celyad Group, shall be
entitled to pursue and obtain injunctive relief from a court of competent jurisdiction restraining Employee from doing any act prohibited thereunder. Nothing contained herein shall be construed as prohibiting Celyad Group or the Corporation, as
appropriate, from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of any monetary damages to which it would be entitled under the law. In the event that any provision of Section 11 is
held to be unenforceable as a result of it being too broad, including in terms of time or geographical extent, Employee agrees that the court can adapt and limit this Section so as to make the provisions hereof enforceable to the fullest extent
permissible. The post-employment restricted periods in Section 11 shall be extended by each day that the Employee is in breach of any provision of Section 11. 

14. Rights in Celyad Group Property; Inventions. The Employee hereby recognizes the Celyad Group’s proprietary rights in the
tangible and intangible property of the Celyad Group and acknowledges that the Employee will not obtain or acquire through such employment any personal property rights in any of the property of any member of the Celyad Group, including but not
limited to, any writing, communications, manuals, documents, instruments, contracts, agreements, files, literature, data, technical information, know-how, secrets, formulas, products, methods, procedures,
processes, devices, apparatuses, trademarks, trade names, trade styles, service marks, logos, copyrights, patents, or other matters which are the property of any member of the Celyad Group. The Employee agrees that during his employment by the
Corporation, any and all discoveries, inventions, improvements and innovations (including all data and records pertaining thereto), whether or not patentable, copyrightable or reduced to writing, which the Employee may have conceived or made, or may
conceive or make, either alone or in conjunction with others and whether or not during working hours or by the use of the facilities of the Corporation, which are related or in any way connected with the business of the Corporation or any of its
affiliates, are and shall be the sole and exclusive property of the Corporation. The Employee shall promptly disclose all inventions to the Corporation, shall execute at the request of the Corporation any assignments or other documents the
Corporation may deem necessary to protect or perfect its rights therein, and shall assist the Corporation, at the Corporation’s expense, in obtaining, defending and enforcing the Corporation’s rights therein. The Employee hereby assigns,
sets over and transfers to the Corporation all of his right, title and interest in and to any inventions. The Employee hereby appoints the Corporation as his
attorney-in-fact to execute on his behalf any assignments or other documents reasonably necessary by the Corporation to protect or perfect its rights to any inventions.

 15. Protected Disclosures. Employee understands that nothing contained in this
Agreement limits Employee’s ability to communicate with any federal, state or local governmental agency or commission, including to provide documents or other information, without notice to the Corporation. Employee also understands that
nothing in this Agreement limits Employee’s ability to share compensation information concerning myself or others, except that this does not permit me to disclose compensation information concerning others that Employee obtain because
Employee’s job responsibilities require or allow access to such information. 
 16. Defend Trade Secrets Act of 2016. Employee
understands that pursuant to the federal Defend Trade Secrets Act of 2016, Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (a) is made (i) in
confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or
other document filed in a lawsuit or other proceeding, if such filing is made under seal. 
 17. Compensation Upon Termination of
Employment for Any Reason. In connection with Employee’s termination for any reason, the Corporation shall pay the Employee any (i) base salary; (ii) unused vacation; and (iii) unreimbursed expenses (subject to the
Corporation’s expense policy), in each case ((i) through (iii)) accrued through the date of the Employee’s termination (the “Termination Date,” and the obligations described in (i) through (iii), the “Accrued
Obligations”). 
 18. Termination by Corporation without Cause. 

(a) The Corporation shall have the right to terminate Employee’s employment without Cause.    The Corporation will
endeavor to, but is not required to, provide the Employee with 30 days advance notice of such a termination. Notwithstanding any such 30-day notice period, the Corporation may subsequently accelerate the
Employee’s date of termination. 
 (b) If the Corporation terminates the Employee’s employment without Cause, and subject to the
Release Requirement, the Corporation shall pay the Employee six (6) months of Employee’s final Base Salary rate in installments on the Corporation’s regular payroll dates following the Termination Date (the “Severance
Pay”). The Corporation shall not be required to begin paying any Severance Pay until its first payroll date after the Release Requirement has been fulfilled. The “Release Requirement” means the Employee’s execution, return
and nonrevocation, in each case with the time periods required by the Release but in no event later than 30 days after the Termination Date (or 60 days in the event of a group layoff under the Older Workers’ Benefits Protection Act), of a
separation agreement in a form provided by the Celyad Group containing, among other terms, a release of claims against the Celyad Group and related persons and entities (the “Release”). In addition, if Employee elects to receive benefits
under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or similar state law, the Corporation will provide you with six (6) months of your COBRA premiums at the Corporations normal rate of contribution for employees for
your coverage at a level in effect immediately prior to your termination. Within 30 days of any such termination without Cause, the Employee has the right to request of the Celyad Board of Directors that all warrants with time based-vesting awarded
to Employee as of the date of the termination will immediately accelerate and become fully exercisable or non-forfeitable as of the date of termination. The Severance Pay provision will survive takeover,
merger, acquisition, “Strategic Partnership” and/or change of control, and Employee’s Severance Pay provision will be an obligation of the new controlling entity. 

 19. Termination Upon Death and Disability. 

(a) This Agreement may be terminated immediately due to Employee’s death or Disability without any severance pay 

(b) “Disability” shall mean a physical or mental impairment that substantially prevents Employee from performing Employee’s
duties hereunder and that has continued for either (i) one hundred eighty (180) consecutive days or (ii) any one hundred eighty (180) days within a consecutive three hundred sixty (360) day period. Any dispute as to whether
or not Employee is disabled within the meaning of the preceding sentence shall be resolved by a physician reasonably satisfactory to the Corporation, and the determination of such physician shall be final and binding upon both Employee and the
Corporation. 
 20. Termination by Corporation for Cause; Termination by Employee for Any Reason. 

(a) Corporation shall have the right to terminate Employee’s employment for Cause immediately upon written notice, with the Termination
Date occurring as specified in such notice from the Corporation. For purposes of this Agreement, “Cause” shall mean (i) conviction, commission of or entering a plea of guilty or nolo contendere to any felony, or a crime
involving dishonesty or moral turpitude; (ii) willfully engaging in conduct materially injurious, or reasonably likely to cause material injury, to any member of the Celyad Group; (iii) the material breach of this Agreement by Employee or
the Employee’s breach of any other restrictive covenant obligation Employee has to any member of the Celyad Group; (iv) Employee’s gross negligence, or willful and deliberate failure to perform Employee’s duties, or
(v) Employee’s failure to adhere to or comply with any material written policies or procedures of the Celyad Group, including but not limited to the code of conduct or those pertaining to expense reimbursement, harassment, discrimination
or retaliation, conflict of interest, or the prohibition of insider trading. Before a termination for Cause under (iii) – (v) above, and if the Employee’s breach or violation is curable, the Corporation shall provide Employee with written
notice and thirty (30) days from the delivery of such notice to cure the conduct, breach or violation (the “Cure Period”), provided that Employee shall not be entitled to more than two Cure Periods in any twelve-month period.

 (b) Employee shall have the right to terminate Employee’s employment for any reason upon thirty days’ written notice to the
Corporation and Celyad.     
 (c) For the avoidance of doubt, in the event of termination of employment by
Corporation for Cause, a termination due to death or Disability or a termination by Employee for any reason, Employee will be entitled only to the Accrued Obligations, and will not be entitled to any Severance Benefits. 

 21. Enforceability; Severability. This Agreement shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision hereof shall be prohibited or invalid under any such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating or
nullifying the remainder of such provision or any other provisions of this Agreement. If any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity
or subject, such provisions shall be construed by limiting and reducing it or them so as to be enforceable to the maximum extent permitted by applicable law. 

22. Governing Law; Jurisdiction. This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware
without giving effect to principles of conflicts of laws. To the extent permitted by Section 21 (Arbitration), including without limitation the enforcement by the Corporation of any of Employee’s restrictive covenant obligations, the state
and federal courts located in Boston, Massachusetts shall have exclusive jurisdiction and exclusive venue over any controversy or claim arising out of the Employee’s employment or the termination of that employment. 

23. Arbitration. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise arising out
of the Employee’s employment or the termination of that employment (including, without limitation, any claims of unlawful employment discrimination whether based on age or otherwise) shall, to the fullest extent permitted by law, be settled by
arbitration in any forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association (“AAA”) in Boston, Massachusetts in accordance with the Employment Arbitration
Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person or entity other than the Employee or the Corporation may be a party with regard to any such
controversy or claim, such controversy or claim shall be submitted to arbitration subject to such other person or entity’s agreement. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
This Section shall be specifically enforceable. Notwithstanding the foregoing, this Section shall not preclude either party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or a preliminary injunction in
circumstances in which such relief is appropriate; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section. 

24. Section 409A. It is intended that the benefits provided under this Agreement shall comply with the provisions of
Section 409A of the Internal Revenue Code (“Section 409A”) or qualify for an exemption to Section 409A, and this Agreement shall be construed and interpreted in accordance with such intent. Any payments that qualify for
the “short term deferral” exception or another exception under Section 409A shall be paid under the applicable exception. Each payment provided under this Agreement shall be treated as a separate payment for Section 409A
purposes. No member of the Celyad Group (or its affiliates), the Board, or any employee, officer or director of the Celyad Group (or its affiliates) shall be held liable for any taxes, interest, penalties or other monetary amounts owed by the
Employee as a result of this Agreement. 
 25. Notices. Any notice or other communication given pursuant to this Agreement shall be
in writing and shall be personally delivered, sent by overnight courier or express mail, or mailed by first class certified or registered mail, postage prepaid, return receipt requested to the parties at their respective addresses set forth on the
signature page hereof, or to such other address as the parties shall have designated by notice to the other parties. 

 26. Amendment; Waiver. No provision of this Agreement may be amended, modified, waived or
discharged unless such amendment, modification, waiver or discharge is agreed to in writing and signed by the parties. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

27. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Corporation, its successors and
assigns, and the Employee, Employee’s heirs and legal representatives. Employee acknowledges that the Services are personal and that Employee may not assign this Agreement. 

28. Entire Agreement. This Agreement and any other confidentiality or restrictive covenant obligations Employee has to any member of
the Celyad Group constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes any and all prior agreements, arrangements and understandings, written or oral, relating to the same subjects covered by
this Agreement. 
 29. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same agreement. The facsimile or electronic signature of either party to this Agreement for purposes of execution or otherwise, is to be considered as an original signature, and the
document transmitted is to be considered to have the same binding effect as an original signature on an original document. 
 IN WITNESS
WHEREOF, the parties have executed this Agreement as of the date first above written. 
  

			
	CELYAD INC.
	
	 /s/ Filippo Petti

	By:	 	Filippo Petti, Chief Executive Officer
	
	Address:
	World Financial District, 60 Broad Street Suite 3502
	New York, NY 10004 - USA
	
	 Employee

	
	 /s/ Stephen Rubino

Stephen D. Rubino

	Address: 9 Deer Run, Watchung, NJ, 07069EX-4.25

 Exhibit 4.25 

Certain portions of this exhibit have been omitted because they are not 

material and the registrant customarily and actually treats 

that information as private or confidential. 

EXECUTION COPY 

CLINICAL TRIAL COLLABORATION AND SUPPLY AGREEMENT 

by and between 
 MSD
International GmbH, 
 and 

Celyad Oncology SA 

Dated: September 14, 2020 

  

					
	

	 		 	

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
	 1.
	 	 Definitions
	  	 	1	 
			
	 2.
	 	 Scope of the Agreement
	  	 	8	 
				
		 	2.1.	  	 Generally
	  	 	8	 
				
		 	2.3.	  	 Manufacturing Delay
	  	 	9	 
				
		 	2.4.	  	 Compound Commitments
	  	 	9	 
				
		 	2.5.	  	 Delegation of Obligations
	  	 	9	 
				
		 	2.6.	  	 Compounds
	  	 	9	 
			
	 3.
	 	 Conduct of the Study
	  	 	10	 
				
		 	3.1.	  	 Sponsor
	  	 	10	 
				
		 	3.2.	  	 Performance
	  	 	10	 
				
		 	3.3.	  	 Debarred Personnel; Exclusions Lists
	  	 	10	 
				
		 	3.4.	  	 Regulatory Matters
	  	 	10	 
				
		 	3.5.	  	 Documentation
	  	 	11	 
				
		 	3.6.	  	 Copies
	  	 	11	 
				
		 	3.7.	  	 Sample Testing
	  	 	11	 
				
		 	3.8.	  	 Ownership and Use of Clinical Data
	  	 	12	 
				
		 	3.9.	  	 Regulatory Submission
	  	 	13	 
				
		 	3.10.	  	 Joint Development Committee; Alliance Managers
	  	 	13	 
				
		 	3.11.	  	 Certain Memoranda and Reports
	  	 	14	 
				
		 	3.12.	  	 Relationship
	  	 	14	 
				
		 	3.13.	  	 Licensing
	  	 	14	 
				
		 	3.14.	  	 Subsequent Study
	  	 	15	 
			
	 4.
	 	 Protocol and Informed Consent; Certain Covenants
	  	 	15	 
				
		 	4.1.	  	 Protocol
	  	 	15	 
				
		 	4.2.	  	 Informed Consent
	  	 	16	 
				
		 	4.3.	  	 Transparency Reporting
	  	 	16	 
				
		 	4.4.	  	 Financial Disclosure
	  	 	17	 
			
	 5.
	 	 Adverse Event Reporting
	  	 	17	 
				
		 	5.1.	  	 Pharmacovigilance Agreement
	  	 	17	 
				
		 	5.2.	  	 Transmission of SAEs
	  	 	17	 
				
		 	5.3.	  	 Provision of Clinical Safety Data
	  	 	18	 

  

					
	

	 		 	

									
	 6.
	 	 Term and Termination
	  	 	18	 
				
		 	6.1.	  	 Term
	  	 	18	 
				
		 	6.2.	  	 MSD Termination for Safety
	  	 	18	 
				
		 	6.3.	  	 Termination for Material Breach
	  	 	18	 
				
		 	6.4.	  	 Termination for Patient Safety
	  	 	18	 
				
		 	6.5.	  	 Termination for Regulatory Action; Other Reasons
	  	 	19	 
				
		 	6.6.	  	 Termination related to Anti-Corruption Obligations
	  	 	19	 
				
		 	6.7.	  	 Return of MSD Compound
	  	 	19	 
				
		 	6.8.	  	 Survival
	  	 	19	 
				
		 	6.9.	  	 No Prejudice
	  	 	19	 
				
		 	6.10.	  	 Confidential Information
	  	 	19	 
				
		 	6.11.	  	 Manufacturing Costs
	  	 	20	 
			
	 7.
	 	 Costs of Study
	  	 	20	 
			
	 8.
	 	 Supply and Use of the Compounds
	  	 	20	 
				
		 	8.1.	  	 Supply of the Compounds
	  	 	20	 
				
		 	8.2.	  	 Clinical Quality Agreement
	  	 	21	 
				
		 	8.3.	  	 Minimum Shelf Life Requirements
	  	 	21	 
				
		 	8.4.	  	 Provision of Compounds
	  	 	21	 
				
		 	8.5.	  	 Labeling and Packaging; Use, Handling and Storage
	  	 	22	 
				
		 	8.6.	  	 Product Specifications
	  	 	22	 
				
		 	8.7.	  	 Changes to Manufacturing
	  	 	22	 
				
		 	8.8.	  	 Product Testing; Noncompliance
	  	 	22	 
				
		 	8.9.	  	 Investigations
	  	 	24	 
				
		 	8.10.	  	 Shortage; Allocation
	  	 	24	 
				
		 	8.11.	  	 Records; Audit Rights
	  	 	24	 
				
		 	8.12.	  	 Quality
	  	 	25	 
				
		 	8.13.	  	 Quality Control
	  	 	25	 
				
		 	8.14.	  	 Audits and Inspections
	  	 	25	 
				
		 	8.15.	  	 Recalls
	  	 	25	 
				
		 	8.16.	  	 VAT
	  	 	25	 
			
	 9.
	 	 Confidentiality
	  	 	26	 
				
		 	9.1.	  	 Confidential Information
	  	 	26	 
				
		 	9.2.	  	 Inventions
	  	 	26	 
				
		 	9.3.	  	 Personal Identifiable Data
	  	 	26	 
				
		 	9.4.	  	 Publicity/Use of Names
	  	 	26	 

  

					
	

	 	ii	 	

									
	 10.    
	 	 Intellectual Property
	  	 	27	 
				
		 	10.1.	  	 Joint Ownership, Prosecution and Enforcement
	  	 	27	 
				
		 	10.2.	  	 Inventions Owned by Collaborator
	  	 	29	 
				
		 	10.3.	  	 Inventions Owned by MSD
	  	 	29	 
				
		 	10.4.	  	 Mutual Freedom to Operate for Combination Inventions
	  	 	30	 
			
	 11.
	 	 Reprints; Rights of Cross-Reference
	  	 	31	 
			
	 12.
	 	 Publications; Press Releases
	  	 	31	 
				
		 	12.1.	  	 Clinical Trial Registry
	  	 	31	 
				
		 	12.2.	  	 Publication
	  	 	31	 
				
		 	12.3.	  	 Press Releases
	  	 	31	 
			
	 13.
	 	 Representations and Warranties; Disclaimers
	  	 	32	 
				
		 	13.1.	  	 Due Authorization
	  	 	32	 
				
		 	13.2.	  	 Compounds
	  	 	32	 
				
		 	13.3.	  	 Results
	  	 	32	 
				
		 	13.4.	  	 Anti-Corruption
	  	 	32	 
				
		 	13.5.	  	 DISCLAIMER
	  	 	34	 
			
	 14.
	 	 Insurance; Indemnification; Limitation of Liability
	  	 	34	 
				
		 	14.1.	  	 Insurance
	  	 	34	 
				
		 	14.2.	  	 Indemnification
	  	 	34	 
				
		 	14.3.	  	 LIMITATION OF LIABILITY
	  	 	35	 
			
	 15.
	 	 Use of Name
	  	 	36	 
			
	 16.
	 	 Force Majeure
	  	 	36	 
			
	 17.
	 	 Entire Agreement; Amendment; Waiver
	  	 	36	 
			
	 18.
	 	 Assignment and Affiliates
	  	 	36	 
			
	 19.
	 	 Invalid Provision
	  	 	36	 
			
	 20.
	 	 No Additional Obligations
	  	 	37	 
			
	 21.
	 	 Governing Law; Dispute Resolution
	  	 	37	 
				
	 22.
	 	 Notices
	  		  	 	37	 
			
	 23.
	 	 Relationship of the Parties
	  	 	38	 
			
	 24.
	 	 Counterparts and Due Execution
	  	 	38	 
			
	 25.
	 	 Construction
	  	 	39	 

 Exhibits 
 Exhibit A
– Protocol Synopsis 
 Exhibit B – Supply of Compound 

  

					
	

	 	iii	 	

 Schedules 

Schedule I – Data Sharing Schedule 
 Schedule II –
Sample Testing Schedule 
 Schedule III – Third Parties Providing Study Activities 

  

					
	

	 	iv	 	

 CLINICAL TRIAL COLLABORATION AND SUPPLY AGREEMENT 

This CLINICAL TRIAL COLLABORATION AND SUPPLY AGREEMENT (this “Agreement”), is entered into as of September 14,
2020 (the “Effective Date”), by and between MSD International GmbH, having a place of business at Weystrasse 20, 6006 Luzern, Switzerland (“MSD”), and Celyad Oncology SA, having a place of business at rue Edouard
Belin 2, 1435 Mont-Saint-Guibert, Belgium (“Collaborator”). MSD and Collaborator are each referred to herein individually as “Party” and collectively as “Parties”. 

RECITALS 
 A.     MSD
holds intellectual property rights with respect to the MSD Compound (as defined below). 
 B.     Collaborator is developing the
Collaborator Compound (as defined below) for the treatment of certain tumor types. 
 C.     MSD is developing the MSD Compound for the
treatment of certain tumor types. 
 D.     Collaborator desires to sponsor a clinical trial in which the Collaborator Compound and the
MSD Compound would be dosed concurrently or in combination. 
 E.     MSD and Collaborator, consistent with the terms of this Agreement,
desire to collaborate as more fully described herein, including by providing the MSD Compound and the Collaborator Compound for the Study (as defined below). 

NOW, THEREFORE, in consideration of the premises and of the following mutual promises, covenants and conditions, the Parties, intending to be
legally bound, mutually agree as follows: 
 1.     Definitions. 

For all purposes of this Agreement, the capitalized terms defined in this Article 1 and throughout this Agreement shall have the meanings herein
specified. 
 1.1. “Affiliate” means, with respect to either Party, a firm, corporation or other entity that, now or
hereafter, directly or indirectly owns or controls said Party, or, now or hereafter, is owned or controlled by said Party, or is under common ownership or control with said Party. The word “control” as used in this definition means
(a) the direct or indirect ownership of fifty percent (50%) or more of the outstanding voting securities of a legal entity or (b) possession, directly or indirectly, of the power to direct the management or policies of a legal entity,
whether through the ownership of voting securities, contract rights, voting rights, corporate governance or otherwise. 
 1.2.
“Agreement” means this agreement, as amended by the Parties from time to time, and as set forth in the preamble. 
 1.3.
“Alliance Manager” has the meaning set forth in Section 3.10.3. 

  

					
	

	 		 	

 1.4. “Applicable Law” means all federal, state, local, national and regional
statutes, laws, rules, regulations and directives applicable to a particular activity hereunder, including performance of clinical trials, medical treatment and the processing and protection of personal and medical data, that may be in effect from
time to time, including those promulgated by the United States Food and Drug Administration (“FDA”), national regulatory authorities, the European Medicines Agency (“EMA”) and any successor agency to the FDA or EMA
or any agency or authority performing some or all of the functions of the FDA or EMA in any jurisdiction outside the United States or the European Union (each a “Regulatory Authority” and collectively, “Regulatory
Authorities”), and including cGMP and GCP (each as defined below); Data Protection Law; export control and economic sanctions regulations which prohibit the shipment of United States-origin products and technology to certain restricted
countries, entities and individuals; and anti-bribery and anti-corruption laws pertaining to interactions with government agents, officials and representatives; laws and regulations governing payments to healthcare providers. 

1.5. “Business Day” means any day other than a Saturday, Sunday, or a day on which commercial banks located in the country
where the applicable obligations are to be performed are authorized or required by law to be closed. 
 1.6. “cGMP” means
the current Good Manufacturing Practices officially published and interpreted by EMA, FDA and other applicable Regulatory Authorities that may be in effect from time to time and are applicable to the Manufacture of the Compounds. 

1.7. “Clinical Data” means all data (including raw data) and results generated by or on behalf of either Party or at either
Party’s direction, or by or on behalf of the Parties together or at their direction, in the course of each such Party’s performance of the Study; provided however, that Clinical Data does not include Sample Testing Results. 

1.8. “Clinical Quality Agreement” has the meaning set forth in Section 8.2. 

1.9. “Clinical Safety Data” means all safety and tolerability data from the Study or monotherapy clinical trials involving
the Collaborator Compound, which data is presented at Collaborator’s safety review meeting and include safety reports containing information on adverse events, SAEs, and any FDA-reporting requirements,
including summary tables of laboratory and radiographic data. 
 1.10. “CMC” means “Chemistry Manufacturing and
Controls” as such term of art is used in the pharmaceutical industry. 
 1.11. “Combination” means the use or
method of using the Collaborator Compound (with or without FOLFIRI) and the MSD Compound in concomitant or sequential administration. 

1.12. “Collaborator” has the meaning set forth in the preamble. 

1.13. “Collaborator Background Patents” has the meaning set forth in Section 10.4.1. 

  

					
	

	 	2	 	

 1.14. “Collaborator Class Compound” means any allogenic CAR-T cell therapy genetically modified to express a NKG2D receptor-based chimeric antigen receptor (NKG2D-CAR) and a T cell receptor Inhibitory Molecule (TIM). 

1.15. “Collaborator Compound” means CYAD-101, [***] 

1.16. “Collaborator Inventions” has the meaning set forth in Section 10.2. 

1.17. “Compounds” means the Collaborator Compound and the MSD Compound. A “Compound” means either the
Collaborator Compound or the MSD Compound, as applicable. 
 1.18. “Confidential Information” means any information
(including personal data), Know-How or other proprietary information or materials furnished to one Party (“Receiving Party”) by or on behalf of the other Party (“Disclosing
Party”) in connection with this Agreement, except to the extent that such information or materials: (a) was already known to the Receiving Party, other than under an obligation of confidentiality, at the time of disclosure by the
Disclosing Party, as demonstrated by competent evidence; (b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the Receiving Party; (c) became generally available to the public or
otherwise part of the public domain after its disclosure and other than through any act or omission of the Receiving Party in breach of this Agreement; (d) was disclosed to the Receiving Party by a Third Party who had no obligation to the
Disclosing Party not to disclose such information to others; or (e) was subsequently developed by the Receiving Party without use of the Disclosing Party Confidential Information, as demonstrated by competent evidence. 

1.19. “Continuing Party” has the meaning set forth in Section 10.1.1(c). 

1.20. “Control” or “Controlled” means, with respect to particular information or intellectual property, that
the applicable Party owns or has a license to such information or intellectual property and has the ability to grant a right, license or sublicense to the other Party as provided for herein without violating the terms of any agreement or other
arrangement with any Third Party. 
 1.21. “CTA” means an application to a Regulatory Authority for purposes of requesting
the ability to start or continue a clinical trial. 
 1.22. “Data Protection Agreement” has the meaning set forth in
Section 3.6. 
 1.23. “Data Protection Law” means any applicable data protection or privacy laws to which a Party, as
applicable, is subject in connection with this Agreement. 
 1.24. “Data Sharing Schedule” means the schedule attached
hereto as Schedule I. 
 1.25. “Defending Party” has the meaning set forth in Section 14.2.3. 

  

					
	

	 	3	 	

 1.26. “Delivery” with respect to the MSD Compound has the meaning set forth in
Section 8.4.1, and with respect to the Collaborator Compound, the meaning set forth in Section 8.4.2. 
 1.27.
“Disclosing Party” has the meaning set forth in the definition of Confidential Information. 
 1.28. “Disposition
Package” has the meaning set forth in Section 8.8.1. 
 1.29. “Effective Date” has the meaning set
forth in the preamble. 
 1.30. “EMA” has the meaning set forth in the definition of Applicable Law. 

1.31. “Exclusions List” has the meaning set forth in the definition of Violation. 

1.32. “FDA” has the meaning set forth in the definition of Applicable Law. 

1.33. “Filing Party” has the meaning set forth in Section 10.1.1(c). 

1.34. “Final Study Report” has the meaning set forth in Section 3.11. 

1.35. “Force Majeure” has the meaning set forth Article 16. 

1.36. “GCP” means the Good Clinical Practices officially published by EMA, FDA and the International Conference on
Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) that may be in effect from time to time and are applicable to the testing of the Compounds. 

1.37. “Government Official” means: (a) any officer or employee of a government or any department, agency or instrument
of a government; (b) any Person acting in an official capacity for or on behalf of a government or any department, agency, or instrument of a government; (c) any officer or employee of a company or business owned in whole or part by a
government; (d) any officer or employee of a public international organization such as the World Bank or United Nations; (e) any officer or employee of a political party or any Person acting in an official capacity on behalf of a political
party; and/or (f) any candidate for political office; who, when such Government Official is acting in an official capacity, or in an official decision-making role, has responsibility for performing regulatory inspections, government
authorizations or licenses, or otherwise has the capacity to make decisions with the potential to affect the business of either of the Parties. 

1.38. “IND” means any Investigational New Drug Application filed or to be filed with the FDA as described in Title 21 of the
U.S. Code of Federal Regulations, Part 312, and the equivalent application in the jurisdictions outside the United States, including an “Investigational Medicinal Product Dossier” filed or to be filed with Regulatory Authorities in the
European Union. 
 1.39. “Inventions” means all inventions and discoveries, whether or not patentable, that are made,
conceived, or first actually reduced to practice by or on behalf of a Party, or by or on behalf of the Parties together, (a) in the design or performance of the Study or in the design or performance of any Subsequent Study performed pursuant to
Section 3.14, (b) through use of unpublished Clinical Data or (c) through use of Sample Testing Results that are shared between the Parties pursuant to the Sample Testing Schedule. 

  

					
	

	 	4	 	

 1.40. “Joint Development Committee” or “JDC” has the
meaning set forth in Section 3.10.1. 
 1.41. “Joint Patent Application” has the meaning set forth in
Section 10.1.1(c). 
 1.42. “Joint Patent” means a Patent that issues from a Joint Patent Application.

 1.43. “Jointly Owned Invention” has the meaning set forth in Section 10.1.1(a). 

1.44. “Know-How” means any proprietary invention, innovation, improvement,
development, discovery, computer program, device, trade secret, method, know-how, process, technique or the like, including manufacturing, use, process, structural, operational and other data and information,
whether or not written or otherwise fixed in any form or medium, regardless of the media on which contained and whether or not patentable or copyrightable, that is not generally known or otherwise in the public domain. 

1.45. “Liability” has the meaning set forth in Section 14.2.1. 

1.46. “Manufacture,” “Manufactured,” or “Manufacturing” means all activities related to the
manufacture of a Compound, including planning, purchasing, manufacture, processing, compounding, storage, filling, packaging, waste disposal, labeling, leafleting, testing, quality assurance, sample retention, stability testing, release, dispatch
and supply, as applicable. 
 1.47. “Manufacturer’s Release” or “Release” has the meaning ascribed to
release of the MSD Compound in the Clinical Quality Agreement. 
 1.48. “Manufacturing Site” means the facilities where a
Compound is Manufactured by or on behalf of a Party, as such Manufacturing Site may change from time to time in accordance with Section 8.7. 

1.49. “MSD” has the meaning set forth in the preamble. 

1.50. “MSD Background Patents” has the meaning set forth in Section 10.4.2. 

1.51. “MSD Compound” means pembrolizumab, a humanized anti-human PD-1 monoclonal
antibody, [***] 
 1.52. “MSD Inventions” has the meaning set forth in Section 10.3. 

1.53. “NDA” means a New Drug Application, Biologics License Application, Marketing Authorization Application, filing pursuant
to Section 510(k) of the United States Federal Food, Drug and Cosmetic Act, or similar application or submission for a marketing authorization of a product filed with a Regulatory Authority to obtain marketing approval for a biological,
pharmaceutical or diagnostic product in that country or in that group of countries. 

  

					
	

	 	5	 	

 1.54. “Non-Conformance” means, with
respect to a given unit of Compound, (a) an event that deviates from an approved cGMP requirement with respect to the applicable Compound, such as a procedure, Specification, or operating parameter, or that requires an investigation to assess
impact to the quality of the applicable Compound or (b) that such Compound failed to meet the applicable representations and warranties set forth in Section 2.4. 

1.55. “Non-Filing Party” has the meaning set forth in Section 10.1.1(c).

 1.56. “No-Go Decision” has the meaning set forth in Section 2.2.

 1.57. “Other Party” has the meaning set forth in Section 14.2.3. 

1.58. “Opting-out Party” has the meaning set forth in Section 10.1.1(c).

 1.59. “Party” has the meaning set forth in the preamble. 

1.60. “Patent” means a patent, extension, registration, supplementary protection certificate or the like that issues from a
given Patent Application. 
 1.61. “Patent Application” means a patent application (including any provisional,
substitution, divisional, continuation, continuation in part, reissue, renewal, reexamination, extension, supplementary protection certificate and the like) in respect of a given invention. 

1.62. “PD-1 Antagonist” means any small or large molecule that [***] 

1.63. “Person” means any individual, sole proprietorship, partnership, corporation, business trust, joint stock company,
trust, unincorporated organization, association, limited liability company, institution, public benefit corporation, joint venture, entity or governmental entity. 

1.64. “Pharmacovigilance Agreement” has the meaning set forth in Section 5.1. 

1.65. “Project Manager” has the meaning set forth in Section 3.10.1. 

1.66. “Protocol” means the written documentation that describes the Study and sets forth specific activities to be performed
as part of the conduct of the Study. 
 1.67. “Receiving Party” has the meaning set forth in the definition of Confidential
Information. 
 1.68. “Regulatory Approvals” means, with respect to a Compound, any and all permissions (other than the
Manufacturing approvals) required to be obtained from Regulatory Authorities and any other competent authority for the development, registration, importation and distribution of such Compound in the United States, Europe or other applicable
jurisdictions for use in the Study. 

  

					
	

	 	6	 	

 1.69.    “Regulatory Authorities” has the meaning set
forth in the definition of Applicable Law. 
 1.70.    “Regulatory Documentation” means, with
respect to the Compounds, all submissions to Regulatory Authorities in connection with the development of such Compounds, including all INDs and amendments thereto, NDAs and amendments thereto, drug master files, correspondence with regulatory
agencies, periodic safety update reports, adverse event files, complaint files, inspection reports and manufacturing records, in each case together with all supporting documents (including documents that include Clinical Data). 

1.71. “Related Agreements” means the Data Protection Agreement, the Pharmacovigilance Agreement and the Clinical Quality
Agreement. 
 1.72. “Right of Reference” means the “right of reference” defined in 21 CFR 314.3(b), including
with regard to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by reference or otherwise) contained in Regulatory Documentation (and any data contained
therein) filed with such Regulatory Authority with respect to a Party’s Compound, only to the extent necessary for the conduct of the Study in such country or as otherwise expressly permitted or required under this Agreement to enable a Party
to exercise its rights or perform its obligations hereunder. 
 1.73. “SAEs” has the meaning set forth in
Section 5.2. 
 1.74. “Samples” means biological specimens collected from subjects participating in the Study,
including urine, blood and tissue samples. 
 1.75. “Sample Testing” means the analyses to be performed by each Party using
the applicable Samples, as described in the Sample Testing Schedule. 
 1.76. “Sample Testing Results” means those data and
results arising from the Sample Testing performed by a Party. 
 1.77. “Sample Testing Schedule” means the schedule
attached hereto as Schedule II. 
 1.78. “Specifications” means the requirements to which a Compound must conform.
The Specifications for a Compound will be set forth in the Certificate of analysis accompanying each batch of Compound supplied for use in the Study. 

1.79. “Study” means the Phase I clinical trial described in the Protocol to evaluate the safety, pharmacokinetics,
pharmacodynamics, and preliminary efficacy of the concomitant and/or sequenced administration of the combination of the Collaborator Compound in association with FOLFIRI (a chemotherapy regimen consisting of irinotecan, leucovorin, and 5-fluorouracil) and the MSD Compound in patients with non-MSI-H/pMMR metastatic colorectal cancer (mCRC). For the avoidance of doubt,
such description and/or tumor types may be revised to account for amendments to the Protocol; made as permitted by this Agreement, and as revised, shall continue to constitute the Study. 

  

					
	

	 	7	 	

 1.80. “Study Completion” means (i) the date when the last patient enrolled
in the Study has completed their last Study related assessment for evaluation excluding survival follow-up, or (ii) an alternative date as agreed to by the JDC. 

1.81. “Subcontractors” has the meaning set forth in Section 2.4. 

1.82. “Subsequent Study” has the meaning set forth in Section 3.14.1. 

1.83. “Subsequent Study Agreement” has the meaning set forth in Section 3.14.1. 

1.84. “Term” has the meaning set forth in Section 6.1. 

1.85. “Third Party” means any Person or entity other than Collaborator, MSD or their respective Affiliates. 

1.86. “Third Party Infringement” has the meaning set forth in Section 10.1.2(a). 

1.87. “Toxicity & Safety Data” means all clinical adverse event information and/or patient-related
safety data included in the Clinical Data, as more fully described in the Pharmacovigilance Agreement. 
 1.88. “VAT” has
the meaning set forth in Section 8.16.1. 
 1.89. “Violation” means that a Party or any of its officers or
directors or any other personnel (or other permitted agents of a Party performing activities hereunder) has been: (a) convicted of any of the felonies identified among the exclusion authorities listed on the U.S. Department of Health and Human
Services, Office of Inspector General (OIG) website, including 42 U.S.C. 1320a-7(a) (http://oig.hhs.gov/exclusions/authorities.asp); (b) identified in the OIG List of Excluded Individuals/Entities (LEIE)
database (http://exclusions.oig.hhs.gov/) or listed as having an active exclusion in the System for Award Management (http://www.sam.gov); or (c) listed by any US Federal agency as being suspended, proposed for debarment, debarred, excluded or
otherwise ineligible to participate in Federal procurement or non-procurement programs, including under 21 U.S.C. 335a (http://www.fda.gov/ora/compliance_ref/debar/) ((a), (b) and (c) collectively the
“Exclusions Lists”). 
 2.    Scope of the Agreement. 

2.1. Generally. Each Party shall: (a) contribute to the Study such resources as are necessary to fulfill its obligations set
forth in this Agreement; and (b) act in good faith in performing its obligations under this Agreement and each Related Agreement to which it is a Party. 

2.2. Clinical Safety Data Review. Prior to dosing any patient with the MSD Compound in the Study, Collaborator shall invite MSD
to attend a safety review meeting, during reasonable business hours, to review the most recent Clinical Safety Data. Collaborator shall provide MSD with reasonable advance notice of such meeting. At such meeting, MSD shall have the opportunity to
review such Clinical Safety Data. Collaborator shall also provide MSD with a copy of such Clinical Safety Data for further review. The decision to proceed with the Study requires the mutual consent of the Parties in each Party’s sole
discretion. If following review of such Clinical Safety Data either Party or both Parties decides not to proceed with the Study by notifying the other Party in writing (such decision, a “No-Go
Decision”), this Agreement shall terminate in accordance with Section 6.4 of this Agreement.  

  

					
	

	 	8	 	

 2.3. Manufacturing Delay. Each Party shall notify the other Party as
promptly as possible in the event of any Manufacturing delay that is likely to adversely affect supply of its Compound as contemplated by this Agreement. 

2.4. Compound Commitments. 

2.4.1. Collaborator agrees to Manufacture and supply the Collaborator Compound for purposes of the Study in accordance with Article 8,
and Collaborator hereby represents and warrants to MSD that, at the time of Delivery of the Collaborator Compound, such Collaborator Compound shall have been Manufactured and supplied in compliance with: (a) the Specifications for the
Collaborator Compound and (b) all Applicable Law, including cGMP and health, safety and environmental protections. 
 2.4.2. MSD agrees
to Manufacture and supply the MSD Compound for purposes of the Study in accordance with Article 8, and MSD hereby represents and warrants to Collaborator that, at the time of Delivery of the MSD Compound, such MSD Compound shall have been
Manufactured and supplied in compliance with: (a) the Specifications for the MSD Compound; (b) the Clinical Quality Agreement; and (c) all Applicable Law, including cGMP and health, safety and environmental protections. 

2.4.3. Without limiting the foregoing, each Party is responsible for obtaining all regulatory approvals (including facility licenses) that are
required to Manufacture its Compound in accordance with Applicable Law (provided that, for clarity, Collaborator shall be responsible for obtaining Regulatory Approvals for the Study as set forth in Section 3.4). 

2.5. Delegation of Obligations. Each Party shall have the right to delegate any portion of its obligations hereunder as follows:
(a) to such Party’s Affiliates; (b) to Third Parties that are set forth on Schedule III or are set forth in the Protocol as performing Study activities or as conducting Sample Testing for such Party; (c) to the extent
related to the Manufacture of such Party’s Compound; and (d) upon the other Party’s prior written consent. Any and all Third Parties to whom a Party delegates any of its obligations hereunder are referred to as
“Subcontractors”. Notwithstanding any delegation of its obligations hereunder, each Party shall remain solely and fully liable for the performance of its Affiliates and Subcontractors to which such Party delegates the performance of
its obligations under this Agreement. Each Party shall ensure that each of its Affiliates and Subcontractors performs such Party’s obligations pursuant to the terms of this Agreement, including the Exhibits and Schedules attached hereto. Each
Party shall use reasonable efforts to obtain and maintain copies of documents relating to the obligations performed by such Affiliates and Subcontractors that are required to be provided to the other Party under this Agreement. 

2.6. Compounds. This Agreement does not create any obligation on the part of MSD to provide the MSD Compound for any activities
other than the Study, nor does it create any obligation on the part of Collaborator to provide the Collaborator Compound for any activities other than the Study. 

  

					
	

	 	9	 	

 3.    Conduct of the Study. 

3.1. Sponsor. Collaborator shall act as the sponsor of the Study under its existing IND for the Collaborator Compound with a
Right of Reference to the IND of the MSD Compound, as necessary, as further described in Section 3.4; provided, however, that in no event shall Collaborator file an additional IND for the Study unless required by Regulatory
Authorities to do so. If a Regulatory Authority requests an additional IND for the Study the Parties shall meet and mutually agree on an approach to address such requirement. 

3.2. Performance. Collaborator shall ensure that the Study is performed in accordance with this Agreement, the Protocol and all
Applicable Law, including GCP. 
 3.3. Debarred Personnel; Exclusions Lists. Notwithstanding anything to the contrary
contained herein, Collaborator shall not employ or subcontract with any Person that is excluded, debarred, suspended, proposed for suspension or debarment, in Violation or otherwise ineligible for government programs for the performance of the Study
or any other activities under this Agreement or the Related Agreements. Collaborator hereby certifies that it has not employed or otherwise used in any capacity and will not employ or otherwise use in any capacity, the services of any Person
suspended, proposed for debarment, or debarred under United States law, including 21 USC 335a, or any foreign equivalent thereof, in performing any portion of the Study or other activities under this Agreement or the Related Agreements and that
Collaborator has, as of the Effective Date, screened itself, and its officers and directors, against the Exclusions Lists and that it has informed MSD whether it or any of its officers or directors has been in Violation. Collaborator shall notify
MSD in writing immediately if any such suspension, proposed debarment, debarment or Violation occurs or comes to its attention, and shall, with respect to any Person so suspended, proposed for debarment, debarred or in Violation, promptly remove
such Person from performing in any capacity related to the Study or otherwise related to activities under this Agreement or the Related Agreements. 

3.4. Regulatory Matters. Collaborator shall: (a) obtain, prior to initiating the Study, all Regulatory Approvals from all
Regulatory Authorities, ethics committees and/or institutional review boards with jurisdiction over the Study; and (b) follow all directions from any such Regulatory Authorities, ethics committees and/or institutional review boards. MSD shall
have the right (but not the obligation) to participate in any discussions (including meetings) with a Regulatory Authority regarding matters related to the Study and the MSD Compound and to collaborate on questions posed to Regulatory Authorities
regarding design and conduct of the Study. If a Right of Reference is necessary, each Party shall provide to the other a cross-reference letter or similar communication to the applicable Regulatory Authority if needed to effectuate the Right of
Reference. Notwithstanding anything to the contrary in this Agreement, neither Party shall have any right to access the other Party’s CMC data with respect to such other Party’s Compound. MSD shall authorize FDA and other applicable
Regulatory Authorities to cross- reference the appropriate MSD Compound INDs and CTAs to provide data access to Collaborator sufficient to support conduct of the Study. If MSD’s CTA is not available in a given country, MSD [***] with the
Regulatory Authority for such country, referencing Collaborator’s CTA as appropriate [***] 

  

					
	

	 	10	 	

 3.5. Documentation. Collaborator shall maintain reports and all related
documentation in good scientific manner and in compliance with Applicable Law. Collaborator shall provide to MSD all Study information and documentation reasonably requested by MSD to enable MSD to (a) comply with any of its legal, regulatory
and/or contractual obligations, or any request by any Regulatory Authority, related to the MSD Compound and (b) determine whether the Study has been performed in accordance with this Agreement. 

3.6. Copies. Collaborator shall provide to MSD copies of all Clinical Data, in electronic form or other mutually agreeable
alternate form and on the timelines specified in the Data Sharing Schedule (if applicable) or upon mutually agreeable timelines; provided, however, that a complete copy of the Clinical Data shall be provided to MSD no later than [***]
days following Study Completion. Collaborator shall ensure that (a) all patient authorizations and consents required under Data Protection Law in connection with the Study permit such sharing of Clinical Data with MSD and (b) it complies
with Applicable Law in transferring personal data in connection with sharing the Clinical Data. Prior to the initiation of clinical activities under the Study, and in any event within [***] days after the Effective Date, Collaborator and MSD shall
enter into a Data Protection Agreement that ensures certain protections are in place for the processing personal data in the performance of the Study and sets forth Collaborator’s responsibility for certain obligations, including, without
limitation, addressing the rights of data subjects, ensuring a legal basis for processing personal data, conducting appropriate data protection impact assessments and prior consultations with relevant supervisory authorities, complying with all
personal data breach notification obligations, and certain other compliance obligations under Data Protection Law (the “Data Protection Agreement”). In the event of any inconsistencies between the terms of this Agreement and the
Data Protection Agreement, the terms of the Data Protection Agreement will control. 
 3.7. Sample Testing. 

3.7.1. Collaborator shall provide Samples to MSD as specified in the Protocol or as agreed to by the Joint Development Committee. Each Party
shall (a) use the Samples only for the Sample Testing and (b) conduct the Sample Testing solely in accordance with the Sample Testing Schedule and the Protocol. 

3.7.2. MSD shall own all Sample Testing Results arising from Sample Testing performed by or on behalf of MSD. Solely to the extent specified
on the Sample Testing Schedule as being shared, MSD shall provide to Collaborator the Sample Testing Results for the Sample Testing conducted by or on behalf of MSD, in electronic form or other mutually agreeable alternate form, on the timelines
specified in the Sample Testing Schedule or as otherwise mutually agreed. 
 3.7.3. Collaborator shall own all Sample Testing Results
arising from Sample Testing performed by or on behalf of Collaborator. Solely to the extent specified on the Sample Testing Schedule as being shared, Collaborator shall provide to MSD the Sample Testing Results for the Sample Testing conducted by or
on behalf of Collaborator, in electronic form or other mutually agreeable alternate form, on the timelines specified in the Sample Testing Schedule or as otherwise mutually agreed. 

  

					
	

	 	11	 	

 3.7.4. Except to the extent otherwise agreed in a writing signed by authorized representatives of
each Party, each Party may use and disclose the Sample Testing Results owned by the other Party and shared by such other Party in accordance with the Sample Testing Schedule solely for the purposes of: [***] 

3.8. Ownership and Use of Clinical Data. 

3.8.1. [***] Collaborator shall maintain the Clinical Data in its internal database; provided, however, that at all times during
the Term, Collaborator shall grant MSD access to all Clinical Data. 
 3.8.2. Notwithstanding the foregoing, before publication of the
Clinical Data in accordance with Article 12, [***] provided, however, that the foregoing shall not limit or restrict either Party’s ability to (i) use or disclose the Clinical Data as may be necessary to comply with
Applicable Law or with such Party’s internal policies and procedures with respect to pharmacovigilance and adverse event reporting or (ii) share with Third Parties or Affiliates Toxicity and Safety Data where because of severity, frequency
or lack of reversibility either Party needs to use such Toxicity and Safety Data with respect to its own Compound or the Combination to ensure patient safety. 

3.8.3. Notwithstanding anything to the contrary in this Section 3.8, Collaborator may: [***] and (iii) Collaborator
must notify MSD, in writing, at least [***] days before such disclosure that Collaborator plans to make such disclosure and the reasons therefor. As used in this Section 3.8.3, [***] 

  

					
	

	 	12	 	

 3.9. Regulatory Submission. It is understood and acknowledged by the Parties that
positive Clinical Data could be used to obtain label changes for the Compounds, and each Party may propose a Subsequent Study in accordance with Section 3.14. 

3.10. Joint Development Committee; Alliance Managers. 

3.10.1. The Parties shall form a joint development committee (the “Joint Development Committee” or “JDC”)
made up of an equal number of representatives of MSD and Collaborator, which shall have responsibility for coordinating all regulatory and other activities under, and pursuant to, this Agreement (except for activities under, and pursuant to,
Article 10). The JDC will review and finalize the Protocol in accordance with Section 4.1. Each Party shall designate a project manager (the “Project Manager”) who shall be responsible for implementing and coordinating
activities and facilitating the exchange of information between the Parties with respect to the Study and shall be a member of the JDC. Other JDC members will be agreed by both Parties. 

3.10.2. The JDC shall meet as soon as practicable after the Effective Date and then no less than twice yearly, and more often as reasonably
considered necessary at the request of either Party, to provide an update on the progress of the Study. The JDC may meet in person or by means of teleconference, Internet conference, videoconference or other similar communications equipment. Prior
to any such meeting, Collaborator’s Project Manager shall provide an update in writing to MSD’s Project Manager, which update shall contain information about the overall progress of the Study, recruitment status, interim analysis (if
results available), final analysis and other information relevant to the conduct of the Study. 
 3.10.3. In addition to a Project Manager,
each Party shall designate an alliance manager (the “Alliance Manager”), who shall endeavor to ensure clear and responsive communication between the Parties and the effective exchange of information and shall serve as the primary
point of contact for any issues arising under this Agreement. The Alliance Managers shall have the right to attend all JDC meetings and may bring to the attention of the JDC any matters or issues either of them reasonably believes should be
discussed and shall have such other responsibilities as the Parties may mutually agree in writing. In the event that an issue arises and the Alliance Managers cannot or do not, after good faith efforts, reach agreement on such issue, or if there is
a decision to be made by the JDC on which the members of the JDC cannot unanimously agree, the issue shall be elevated to the [***] for MSD and the Chief Executive Officer for Collaborator. In the event such escalation does not result in resolution
or consensus: (a) MSD shall have final decision-making authority with respect to issues related to MSD Compound; and (b) Collaborator shall have final decision-making authority with respect to issues related to Collaborator Compound. 

  

					
	

	 	13	 	

 3.11. Certain Memoranda and Reports. Without limiting any other provision of this
Agreement requiring Collaborator to provide to MSD documentation related to the Study, Collaborator shall provide to MSD drafts and final versions of the top-line results memorandum and final study report for
the Study as described below. 
 3.11.1. Top-Line Results Memo. Promptly following Study
Completion, Collaborator shall provide to MSD an electronic draft of the top-line results memorandum for the Study, and MSD shall have [***] days after receipt of such draft to provide comments thereon.
Collaborator shall consider in good faith any comments provided by MSD on such draft top-line results memorandum and shall not include any statements therein relating to the MSD Compound that have not been
approved by MSD. Collaborator shall deliver to MSD a final version of the top-line results memorandum promptly following finalization thereof.  

3.11.2. Final Study Report. Collaborator shall provide MSD with an electronic draft of the final study report promptly following Study
Completion, and MSD shall have [***] days after receipt of such draft to provide comments thereon. Collaborator shall consider in good faith any comments provided by MSD on the draft final study report and shall not include any statements therein
relating to the MSD Compound that have not been approved by MSD. Collaborator shall deliver to MSD a final version of the final study report promptly following finalization thereof (the “Final Study Report”). 

3.12. Relationship. Except as expressly set forth in this Agreement, nothing in this Agreement shall: (a) prohibit either
Party from performing clinical studies other than the Study relating to its own Compound, either individually or in combination with any other compound or product, in any therapeutic area; or (b) create an exclusive relationship between the
Parties with respect to any Compound. Each Party acknowledges and agrees that nothing in this Agreement shall be construed as a representation or inference that the other Party will not develop for itself, or enter into business relationships with
other Third Parties regarding, any products, programs, studies (including combination studies), technologies or processes that are similar to or that may compete with the Combination or any other product, program, technology or process, including
Collaborator Class Compound or PD-1 Antagonists, provided that the Clinical Data, Confidential Information, Jointly Owned Inventions and Sample Testing Results are not used or disclosed in
connection therewith in violation of this Agreement. Notwithstanding the foregoing, and notwithstanding any implication to the contrary in this Agreement, Collaborator shall have no right to include any PD-1
Antagonist other than the MSD Compound in any clinical trial of which the Study is a part. 
 3.13. Licensing. 

3.13.1 Nothing in this Agreement shall prohibit or restrict a Party from licensing, assigning or otherwise transferring to an Affiliate
or Third Party such Party’s Compound or any Inventions, Confidential Information or Sample Testing Results owned solely by such Party. 

  

					
	

	 	14	 	

 3.13.2. A Party may license, assign or transfer to an Affiliate or Third Party subject to any
restrictions set forth in this Agreement, such Party’s interest in the Clinical Data, Confidential Information owned jointly by the Parties and/or Jointly Owned Inventions, and in connection therewith share the shared Sample Testing Results
owned by the other Party, solely to the extent such licensee, assignee or transferee agrees in writing to be bound by the terms of this Agreement with respect to such Clinical Data, Confidential Information, Jointly Owned Inventions, and shared
Sample Testing Results. 
 3.13.3. Any assignment or transfer of this Agreement must comply with Article 18 of this Agreement. 

3.14. Subsequent Study. 

3.14.1 During the Term and for a period of [***] months thereafter, either Party shall have the option to propose amending this Agreement and
the Related Agreements or negotiating a new agreement (a “Subsequent Study Agreement”), as appropriate, for the purpose of conducting a registration study for the Combination in the same indication(s) and line(s) of therapy as the
Study (each a “Subsequent Study”) by sending a written proposal to the other Party. Collaborator must offer MSD the option of participating in a Subsequent Study prior to entering into an agreement with a Third Party to conduct a
registration study in the same indication(s) and line(s) of therapy as the Study of the Collaborator Compound in concomitant and/or sequential administration with a PD-1 Antagonist. 

4.    Protocol and Informed Consent; Certain Covenants. 

4.1. Protocol. A synopsis of the initial Protocol and the draft statistical analysis plan for the Study have been agreed to by
the Parties as of the Effective Date and are attached hereto as Exhibit A. Through the JDC, Collaborator shall (a) provide a draft of the Protocol (and any subsequent revisions thereof) to MSD for MSD’s review and comment,
(b) consider in good faith any changes to the draft of the Protocol requested by MSD, and (c) incorporate any changes requested by MSD with respect to MSD Compound. Collaborator shall submit the draft Protocol to the JDC for final
approval; provided, that, the country or countries in which the Study will be performed will be reviewed and agreed upon by the JDC before Study initiation and any changes thereto will be subject to review and approval of the JDC. To the extent the
JDC cannot agree unanimously regarding the contents of the Protocol for final approval: (i) Collaborator shall have final decision-making authority with respect to matters in the Protocol related to the Collaborator Compound; (ii) MSD
shall have final decision-making authority with respect to matters in the Protocol related to the MSD Compound [***] and (iii) all other matters in respect of the Protocol on which the JDC cannot agree shall be resolved in accordance with
Section 3.10.3. Once the final Protocol has been approved in accordance with this Section 4.1, any amendments to such approved final Protocol will be sent in writing to MSD’s Project Manager and MSD’s
Alliance Manager and shall require MSD’s prior written consent. 

  

					
	

	 	15	 	

 4.1.1. Notwithstanding anything to the contrary contained herein, MSD, in its sole discretion,
shall have the sole right to determine the dose and dosing regimen for the MSD Compound and shall have the final decision on all matters relating to the MSD Compound (including quantities of MSD Compound to be supplied pursuant to Article 8)
and any information regarding the MSD Compound included in the Protocol. 
 4.1.2. Notwithstanding anything to the contrary contained
herein, Collaborator, in its sole discretion, shall have the sole right to determine the dose and dosing regimen for the Collaborator Compound and shall have the final decision on all matters relating to the Collaborator Compound (including
quantities of Collaborator Compound to be supplied pursuant to Article 8) and any information regarding the Collaborator Compound included in the Protocol. 

4.2. Informed Consent. Collaborator shall prepare the patient informed consent form for the Study (which shall include
provisions regarding the use of Samples in Sample Testing) in consultation with MSD (it being understood and agreed that the portion of the informed consent form relating to the Sample Testing of the MSD Compound shall be provided to Collaborator by
MSD). Any proposed changes to such form that relate to the MSD Compound, including Sample Testing of the MSD Compound, shall be subject to MSD’s prior written consent. Any such proposed changes will be sent in writing to MSD’s Project
Manager and MSD’s Alliance Manager. MSD will provide such consent, or a written explanation for why such consent is being withheld, within [***] Business Days after MSD receives a copy of Collaborator’s requested changes. 

4.3. Transparency Reporting. 

With respect to any annual reporting period in which Collaborator is not an entity that is required to make a Transparency Report under
Applicable Law, Collaborator will: (a) notify MSD, in writing, within [***] days after the commencement of such reporting period that Collaborator is not so required; and (b) during such reporting period Collaborator will track and provide
to MSD data regarding “indirect” payments or other transfers of value by Collaborator to such health care professionals to the extent such payments or other transfers of value were required, instructed, directed or otherwise caused by MSD
pursuant to this Agreement in the format requested by MSD and provided on a basis to be agreed upon by both Parties. Collaborator represents and warrants that any data provided by Collaborator to MSD pursuant to Section 4.3.1(b)
above will be complete and accurate to the best of Collaborator’s knowledge. 
 With respect to any annual reporting period in which
Collaborator is required to make a Transparency Report under Applicable Law, Collaborator will provide to MSD, in writing, Collaborator’s point of contact for purposes of receiving information from MSD pursuant to this Section 4.3,
along with such contact’s full name, email address, and telephone number. Collaborator may update such contact from time to time by notifying MSD in writing pursuant to Article 22 (Notices). Where applicable, MSD will provide to such
Collaborator contact all information regarding the value of the MSD Compound provided for use in the Study required for such reporting. In the event that the value of the MSD Compound provided pursuant to this Section 4.3 changes,
MSD shall notify Collaborator of such revised value and the effective date thereof. 

  

					
	

	 	16	 	

 For purposes of this Section 4.3, “Transparency Report” means a
transparency report in connection with reporting payments 16 and other transfers of value made to health care professionals, including, without limitation, investigators, steering committee members, data monitoring committee members, and consultants
in connection with the Study in accordance with reporting requirements under Applicable Law, including, without limitation, the Physician Payment Sunshine Act and state gift laws, and the European Federation of Pharmaceutical Industries and
Associations Disclosure Code, or a Party’s applicable policies. 
 4.4. Financial Disclosure. To the extent required by
Applicable Law, Collaborator will be responsible for preparing and submitting the Financial Disclosure Module 1.3.4 components to the FDA for any Regulatory Documentation in connection with the Study.  

5.     Adverse Event Reporting. 

5.1. Pharmacovigilance Agreement. Collaborator will be solely responsible for compliance with all Applicable Laws pertaining to
safety reporting for the Study and related activities. The Parties (or their respective Affiliates) will execute a pharmacovigilance agreement (the “Pharmacovigilance Agreement”) prior to the initiation of clinical activities under
the Study, but in any event within [***] days after the Effective Date, to ensure the exchange of relevant safety data within appropriate timeframes and in an appropriate format to enable the Parties to fulfill local and international regulatory
reporting obligations and to facilitate appropriate safety reviews. In the event of any inconsistency between the terms of this Agreement and the Pharmacovigilance Agreement, the terms of this Agreement shall prevail and govern, except to the extent
such conflicting terms relating directly to the pharmacovigilance responsibilities of the parties (including the exchange of safety data), in which case the terms of the Pharmacovigilance Agreement shall prevail and govern. The Pharmacovigilance
Agreement will include safety data exchange procedures governing the coordination of collection, investigation, reporting, and exchange of information concerning any adverse experiences, pregnancy reports, and any other safety information arising
from or related to the use of the MSD Compound and Collaborator Compound in the Study, consistent with Applicable Law. Such guidelines and procedures shall be in accordance with, and enable the Parties and their Affiliates to fulfill, local and
international regulatory reporting obligations to Regulatory Authorities. For the avoidance of doubt, the obligations to provide safety data under the Pharmacovigilance Agreement will be independent of any obligations to provide safety data pursuant
to any other provisions contained in this Agreement. 
 5.2. Transmission of SAEs. Collaborator will transmit to MSD all
serious adverse events (“SAEs”) as follows: 5.2.1. For drug-related fatal and life-threatening SAEs, Collaborator will send a processed case (on a CIOMS-1 form in English) within [***]
calendar days after receipt by Collaborator of such SAEs. 
 5.2.2. For all other SAEs, including
non-drug-related fatal and life-threatening SAEs, and newly diagnosed cancer, Collaborator will send a processed case (on a CIOMS-1 form in English) within [***]
calendar days after receipt by Collaborator of such SAEs. 
 5.2.3. Cases of disease progression will be handled as outlined in the
Protocol, and if the Protocol specifies that such cases are collected as SAEs, these events will be sent to MSD within the applicable timeframe set forth in Section 5.2.1 or Section 5.2.2 as the case may be. 

  

					
	

	 	17	 	

 5.2.4. For all other reportable information that includes (i) overdose, exposure during
pregnancy or lactation, and, (ii) if such information is required to be collected and/or identified per the Protocol, cases of potential drug-induced liver injury where the patient was exposed to the MSD Compound, then in either case
Collaborator will send a processed case (on a CIOMS-1 form in English) within [***] calendar days after receipt by Collaborator of such information. 

5.3. Provision of Clinical Safety Data. On an ongoing basis, Collaborator shall invite MSD to attend its safety review meetings
and provide to MSD an updated copy of all Clinical Safety Data. Following review of such Clinical Safety Data and discussion at the JDC, if MSD determines that the Collaborator Clinical Trial or the Study affects patient safety, MSD may decide to
discontinue the Study by notifying Collaborator in writing and may terminate this Agreement in accordance with Section 6.4 of this Agreement. For the avoidance of doubt, the obligations to provide Clinical Safety Data under this
Section 5.3 will be independent of any obligations to provide safety data pursuant to any other provisions contained in this Agreement. 

6.     Term and Termination. 

6.1. Term. The term of this Agreement shall commence on the Effective Date and shall continue in full force and effect until
delivery of the Final Study Report, unless terminated earlier by either Party pursuant to this Article 6 (the “Term”). 

6.2. MSD Termination for Safety. In the event that MSD in good faith believes that the MSD Compound is being used in the Study
in an unsafe manner and notifies Collaborator in writing of the grounds for such belief, and Collaborator fails to promptly incorporate changes into the Protocol requested by MSD to address such issue or to otherwise address such issue reasonably
and in good faith, MSD may terminate this Agreement and the supply of the MSD Compound immediately upon written notice to Collaborator. 

6.3. Termination for Material Breach. Either Party may terminate this Agreement if the other Party commits a material breach of
this Agreement, and such material breach continues for [***] days after receipt of written notice thereof from the non-breaching Party; provided that if such material breach cannot reasonably be cured
within [***] days, the breaching Party shall be given a reasonable period of time to cure such breach; provided further, that if such material breach is incapable of cure, then the notifying Party may terminate this Agreement effective after
the expiration of such [***] day period. 
 6.4. Termination for Patient Safety. If either Party determines in good faith,
based on a review of the Clinical Safety Data,Clinical Data, Sample Testing Results or other Study-related Know-How or other information, that the Study may unreasonably affect patient safety, such Party shall
promptly notify the other Party of such determination. The Party receiving such notice may propose modifications to the Study to address the safety issue identified by the other Party and, if the notifying Party agrees, shall act to implement
immediately such modifications; provided, however, that if the notifying Party, in its sole discretion, believes that there is imminent danger to patients, such Party need not wait for the other Party to propose modifications and may
instead terminate this Agreement immediately upon written notice to such other Party. Furthermore, if the notifying Party, in its sole discretion, believes that any modifications proposed by the other Party will not resolve the patient safety issue,
such Party may terminate this Agreement effective upon written notice to such other Party. 

  

					
	

	 	18	 	

 6.5. Termination for Regulatory Action; Other Reasons. Either Party may terminate
this Agreement immediately upon written notice to the other Party in the event that any Regulatory Authority takes any action, or raises any objection, that prevents the terminating Party from supplying its Compound for purposes of the Study.
Additionally, either Party shall have the right to terminate this Agreement immediately upon written notice to the other Party in the event that it determines in its sole discretion to withdraw any applicable Regulatory Approval for its Compound or
to discontinue development of its Compound, for medical, scientific or legal reasons. 
 6.6. Termination related to Anti-Corruption
Obligations. Either Party shall have the right to terminate this Agreement immediately upon written notice to the other Party, if such other Party fails to perform any of its obligations under Section 13.4 or breaches any
representation or warranty contained in Section 13.4. Except as set forth in Section 6.11, the non-terminating Party shall have no claim against the terminating Party for compensation
for any loss of whatever nature by virtue of the termination of this Agreement in accordance with this Section 6.6. 
 6.7.
Return of MSD Compound. In the event that this Agreement is terminated, or in the event Collaborator remains in possession (including through any Affiliate or Subcontractor) of MSD Compound at the time this Agreement expires,
Collaborator shall, at MSD’s sole discretion, promptly either return or destroy all unused MSD Compound pursuant to MSD’s instructions. If MSD requests that Collaborator destroy the unused MSD Compound, Collaborator shall provide written
certification of such destruction. 
 6.8. Survival. The provisions of Sections 3.4 through 3.9 (inclusive),
3.14, 6.7 through 6.11 (inclusive), 8.5.2, 8.11, 8.14 through 8.16 (inclusive), 12.2, 13.4.6, 14.2, and 14.3, and Articles 1, 5, 9 through 12
(inclusive), 17, and 20 through 25 (inclusive) shall survive the expiration or termination of this Agreement. 
 6.9.
No Prejudice. Termination of this Agreement shall be without prejudice to any claim or right of action of either Party against the other Party for any prior breach of this Agreement. 

6.10. Confidential Information. Upon termination of this Agreement, each Party and its Affiliates shall promptly return to the
Disclosing Party or destroy any Confidential Information of the Disclosing Party (other than Clinical Data, Sample Testing Results and Inventions) furnished to the Receiving Party by the Disclosing Party; provided, however that the
Receiving Party may retain one copy of such Confidential Information in its confidential files, solely for purposes of exercising the Receiving Party’s rights hereunder, satisfying its obligations hereunder or complying with any legal
proceeding or requirement with respect thereto, and provided further that the Receiving Party shall not be required to erase electronic files created in the ordinary course of business during automatic system
back-up procedures pursuant to its electronic record retention and destruction practices that apply to its own general electronic files and information so long as such electronic files are (a) maintained
only on centralized storage servers (and not on personal computers or devices), (b) not accessible by any of its personnel (other than its information technology specialists), and (c) are not otherwise accessed subsequently except with the
written consent of the Disclosing Party or as required by law or legal process. Such retained copies of Confidential Information shall remain subject to the confidentiality and non-use obligations herein. 

  

					
	

	 	19	 	

 6.11. Manufacturing Costs. In the event of termination by MSD pursuant to
Section 6.2, 6.3 or 6.6 above, MSD shall be entitled to [***] 
  

			
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	[***]	  	[***]

 7.     Costs of Study. 

The Parties agree that: (a) MSD shall provide the MSD Compound for use in the Study, as described in Article 8 below; (b) each
Party will be responsible for its own internal costs and expenses to support the Study and the costs of any Sample Testing conducted by such Party in connection with the Study; and (c) Collaborator shall bear all other costs associated with the
conduct of the Study, including that Collaborator shall provide the Collaborator Compound for use in the Study, as described in Article 8 below. For the avoidance of doubt, Collaborator will not be required to reimburse MSD for any costs or
expenses incurred by MSD or its Affiliates in connection with the Study (except as provided in Section 6.11) and MSD will not be required to reimburse Collaborator for any costs or expenses incurred by Collaborator or its Affiliates in
connection with the Study. 
 8.     Supply and Use of the Compounds. 

8.1. Supply of the Compounds. Subject to the terms and conditions of this Agreement, each of Collaborator and MSD will use
commercially reasonable efforts to supply, or cause to be supplied, the quantities of its respective Compound as are set forth in Exhibit B, on the timelines set forth in Exhibit B, in each case for use in the Study. If the Protocol is
changed in accordance with Article 4 in such a manner that may affect the quantities of Compound to be provided or the timing for providing such quantities, the Parties shall amend Exhibit B to reflect any changes required to be
consistent with the Protocol. Each Party shall also provide to the other Party a contact person for the supply of its Compound under this Agreement. Notwithstanding the foregoing, or anything to the contrary herein, in the event that a Party is:
(a) not supplying its Compound in accordance with the terms of this Agreement, then the other Party shall have no obligation to supply its Compound; or (b) allocating under Section 8.10, then the other Party may allocate
proportionally. 

  

					
	

	 	20	 	

 8.2. Clinical Quality Agreement. Within [***] days after the Effective Date, but in
any event before any supply of MSD Compound hereunder, the Parties (or their respective Affiliates) shall enter into a quality agreement that shall address and govern issues related to the quality of clinical drug supply to be supplied by the
Parties for use in the Study (the “Clinical Quality Agreement”). In the event of any inconsistency between the terms of this Agreement and the Clinical Quality Agreement, the terms of this Agreement shall control. The Clinical
Quality Agreement shall, among other things: (a) detail classification of any Compound found to have a Non-Conformance; (b) include criteria for Manufacturer’s Release and related certificates
and documentation; (c) include criteria and timeframes for acceptance of MSD Compound; (d) include procedures for the resolution of disputes regarding any MSD Compounds found to have a
Non-Conformance; and (e) include provisions governing the recall of Compounds. 
 8.3.
Minimum Shelf Life Requirements. Each Party shall use commercially reasonable efforts to supply its Compound hereunder with an adequate remaining shelf life at the time of Delivery to meet the Study requirements. 

8. 4.     Provision of Compounds. 

8.4.1. MSD will deliver the MSD Compound [***] to Collaborator’s, or its designee’s, location as specified by Collaborator
(“Delivery” with respect to such MSD Compound). Title and risk of loss for the MSD Compound shall transfer from MSD to Collaborator at Delivery. All costs associated with the subsequent transportation, warehousing and distribution
of MSD Compound shall be borne by Collaborator. Collaborator will, or will cause its designee to: (a) take delivery of the MSD Compound supplied hereunder; (b) perform the acceptance (including testing) procedures allocated to it under the
Clinical Quality Agreement; (c) subsequently label and pack the MSD Compound (in accordance with Section 8.5); and promptly ship the MSD Compound to the Study sites for use in the Study, in compliance with cGMP, GCP and other
Applicable Law and the Clinical Quality Agreement; and (d) provide, from time to time at the reasonable request of MSD, the following information: any applicable chain of custody forms, in-transport
temperature recorder(s), records and receipt verification documentation, such other transport or storage documentation as may be reasonably requested by MSD, and usage and inventory reconciliation documentation related to the MSD Compound. 

8.4.2. Collaborator is solely responsible, at its own cost, for supplying (including all Manufacturing, acceptance and release testing) the
Collaborator Compound for the Collaborator Clinical Trial, and the subsequent handling, storage, transportation, warehousing and distribution of the Collaborator Compound supplied hereunder. Collaborator shall ensure that all such activities are
conducted in compliance with cGMP, GCP and other Applicable Law and the Clinical Quality Agreement (if applicable). For purposes of this Agreement, the “Delivery” of a given quantity of the Collaborator Compound shall be deemed to
occur when such quantity is packaged for shipment to a Study site. 

  

					
	

	 	21	 	

 8.5.     Labeling and Packaging; Use, Handling and Storage.

 8.5.1. The Parties’ obligations with respect to the labeling and packaging of the Compounds are as set forth in the Clinical Quality
Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, MSD shall provide the MSD Compound to Collaborator in the form of unlabeled vials, and Collaborator shall be responsible for labeling, packaging and leafleting
such MSD Compound in accordance with the terms and conditions of the Clinical Quality Agreement and otherwise in accordance with all Applicable Law, including cGMP, GCP, and health, safety and environmental protections. 

8.5.2. Collaborator shall: (a) use the MSD Compound solely for purposes of performing the Study; (b) not use the MSD Compound in any
manner that is inconsistent with this Agreement or for any commercial purpose; and (c) label, use, store, transport, handle and dispose of the MSD Compound in compliance with Applicable Law and the Clinical Quality Agreement, as well as
all instructions of MSD. Collaborator shall not reverse engineer, reverse compile, disassemble or otherwise attempt to derive the composition or underlying information, structure or ideas of the MSD Compound, and in particular shall not analyze the
MSD Compound by physical, chemical or biochemical means except as necessary to perform its obligations under the Clinical Quality Agreement. 

8.6. Product Specifications. A certificate of analysis shall accompany each shipment of the MSD Compound to Collaborator. Upon
request, Collaborator shall provide MSD with a certificate of analysis covering each shipment of Collaborator Compound used in the Study. 

8.7. Changes to Manufacturing. Each Party may make changes from time to time to its Compound or the Manufacturing Site,
provided that such changes shall be in accordance with the Clinical Quality Agreement (if applicable). 
 8.8. Product Testing;
Noncompliance. 
 8.8.1. After Manufacturer’s Release. After Manufacturer’s Release of the MSD Compound and
concurrently with Delivery of the Compound to Collaborator, MSD shall provide Collaborator with such certificates and documentation as are described in the Clinical Quality Agreement (“Disposition Package”). Collaborator shall,
within the time defined in the Clinical Quality Agreement, perform, with respect to the MSD Compound, the acceptance (including testing) procedures allocated to it under the Clinical Quality Agreement. Collaborator shall be solely responsible for
taking all steps necessary to determine that MSD Compound or Collaborator Compound, as applicable, is suitable for release before making such MSD Compound or Collaborator Compound, as applicable, available for human use, and MSD shall provide
cooperation or assistance as reasonably requested by Collaborator in connection with such determination with respect to the MSD Compound. Collaborator shall be responsible for storage and maintenance of the MSD Compound until it is tested and/or
released, which storage and maintenance shall be in compliance with (a) the Specifications for the MSD Compound, the Clinical Quality Agreement and Applicable Law and (b) any specific storage and maintenance requirements as may be provided
by MSD from time to time. Collaborator shall be responsible for any failure of the MSD Compound to meet the Specifications to the extent caused by shipping, storage or handling conditions after Delivery to Collaborator hereunder. 

  

					
	

	 	22	 	

 8.8.2. Non-Conformance. 

(a) In the event that either Party becomes aware that any Compound may have a
Non-Conformance, despite testing and quality assurance activities (including any activities conducted by the Parties under Section 8.8.1), such Party shall immediately notify the other Party (MSD
notification shall be in accordance with the procedures of the Clinical Quality Agreement). The Parties shall investigate any Non-Conformance in accordance with Section 8.9 (Investigations) and any
discrepancy between them shall be resolved in accordance with Section 8.8.3. 
 (b) In the event that any
proposed or actual shipment of the MSD Compound (or portion thereof) shall be agreed to have a Non-Conformance at the time of Delivery to Collaborator, then [***] unless otherwise agreed to by the Parties, MSD
shall replace such MSD Compound as is found to have a Non-Conformance (with respect to MSD Compound that has not yet been administered in the course of performing the Study). Unless otherwise agreed to by the
Parties in writing, the sole and exclusive remedies of Collaborator with respect to any MSD Compound that is found to have a Non-Conformance at the time of Delivery shall be [***] provided that, for clarity, Collaborator shall not be deemed
to be waiving any rights under Section 8.15. In the event MSD Compound is lost or damaged by Collaborator after Delivery, MSD shall [***]; provided that Collaborator shall [***] 

 

			
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

  

	[***]	 Except as set forth in the foregoing sentence, MSD shall have [***] for any MSD Compound supplied hereunder
other than such MSD Compound as has been agreed or determined to have a Non-Conformance at the time of Delivery to Collaborator. 

  

					
	

	 	23	 	

 (c) Collaborator shall be responsible for, and MSD shall have no obligation or
liability with respect to, any Collaborator Compound supplied hereunder that is found to have a Non-Conformance. Collaborator shall replace any Collaborator Compound as is found to have a Non-Conformance (with respect to Collaborator Compound that has not yet been administered in the course of performing the Study). Unless otherwise agreed to by the Parties in writing, the sole and exclusive remedies
of MSD with respect to any Collaborator Compound that is found to have a Non-Conformance at the time of Delivery shall be [***] and (iii) termination of this Agreement pursuant to Section 6.3
(to the extent applicable, but subject to the applicable cure periods set forth therein); provided that, for clarity, MSD shall not be deemed to be waiving any rights under Section 8.15. 

8.8.3. Resolution of Discrepancies. Disagreements regarding any determination of
Non-Conformance by Collaborator shall be resolved in accordance with the provisions of the Clinical Quality Agreement (if applicable). 

8.9. Investigations. The process for investigations of any Non-Conformance shall be
handled in accordance with the Clinical Quality Agreement (if applicable). 
 8.10. Shortage; Allocation. In the event that a
Party’s Compound is in short supply such that a Party reasonably believes in good faith that it will not be able to fulfill its supply obligations hereunder with respect to its Compound, such Party will provide prompt written notice to the
other Party thereof (including the shipments of Compound hereunder expected to be impacted and the quantity of its Compound that such Party reasonably determines it will be able to supply) and the Parties will promptly discuss such situation
(including how the quantity of Compound that such Party is able to supply hereunder will be allocated within the Study). In such event, the Party experiencing such shortage shall have sole discretion, subject to Applicable Law, to determine the
quantity of Compound it will be able to supply as a result of such shortage, [***] 
 8.11. Records; Audit Rights.
Collaborator shall keep complete and accurate records pertaining to its use and disposition of MSD Compound (including its storage, shipping (cold chain) and chain of custody activities) and, upon request of MSD, shall make such records open to
review by MSD for the purpose of conducting investigations for the determination of MSD Compound safety and/or efficacy and Collaborator’s compliance with this Agreement with respect to the MSD Compound. 

  

					
	

	 	24	 	

 8.12. Quality. Quality matters related to the Manufacture of the Compounds shall be
governed by the terms of the Clinical Quality Agreement in addition to the relevant quality provisions of this Agreement. 
 8.13.
Quality Control. Each Party shall implement and perform operating procedures and controls for sampling, stability and other testing of its Compound, and for validation, documentation and release of its Compound and such other quality
assurance and quality control procedures as are required by the Specifications, cGMPs and the Clinical Quality Agreement. 
 8.14.
Audits and Inspections. The Parties’ audit and inspection rights related to this Agreement shall be governed by the terms of the Clinical Quality Agreement. 

8.15. Recalls. Recalls of the Compounds shall be governed by the terms of the Clinical Quality Agreement. 

8.16. VAT. 

8.16.1. It is understood and agreed between the Parties that any payments made and any other consideration given under this Agreement are each
exclusive of any value added or similar tax (“VAT”), which shall be added thereon as applicable and at the relevant rate. Subject to Section 8.16.1, where VAT is properly charged by the supplying Party and added to a
payment made or other consideration provided (as applicable) under this Agreement, the Party making the payment or providing the other consideration (as applicable) will pay the amount of VAT properly chargeable only on receipt of a valid tax
invoice from the supplying Party issued in accordance with the laws and regulations of the country in which the VAT is chargeable. Each Party agrees that it shall provide to the other Party any information and copies of any documents within its
Control to the extent reasonably requested by the other Party for the purposes of (i) determining the amount of VAT chargeable on any supply made under this Agreement, (ii) establishing the place of supply for VAT purposes, or
(iii) complying with its VAT reporting or accounting obligations. 
 8.16.2. Where one Party or its Affiliate (the “First
Party”) is treated as making supply of goods or services in a particular jurisdiction (for VAT purposes) for no consideration, and the other Party or its Affiliate (the “Second Party”) is treated as receiving such supply in
the same jurisdiction, thus resulting in an amount of VAT being properly chargeable on such supply, the Second Party shall only be obliged to pay to the First Party the amount of VAT properly chargeable on such supply (and no other amount). The
Second Party shall pay such VAT to the First Party on receipt of a valid VAT invoice from the First Party (issued in accordance with the laws and regulations of the jurisdiction in which the VAT is properly chargeable). Each Party agrees to
(i) use its reasonable efforts to determine and agree the value of the supply that has been made and, as a result, the corresponding amount of VAT that is properly chargeable and (ii) provide to the other Party any information or copies of
documents in its Control as are reasonably necessary to evidence that such supply will take, or has taken, place in the same jurisdiction (for VAT purposes). 

  

					
	

	 	25	 	

 9.     Confidentiality. 

9.1. Confidential Information. Subject to Section 13.4.8, Collaborator and MSD agree to hold in confidence any
Confidential Information provided by or on behalf of the other Party, and neither Party shall use Confidential Information of the other Party except to fulfill such Party’s obligations under this Agreement or exercising its rights. Without
limiting the foregoing, the Receiving Party may not, without the prior written permission of the Disclosing Party, disclose any Confidential Information of the Disclosing Party to any Third Party except to the extent disclosure (i) is required
by Applicable Law; (ii) is pursuant to the terms of this Agreement; or (iii) is necessary for the conduct of the Study, and in each case ((i) through (iii)) provided that the Receiving Party shall provide reasonable advance notice
to the Disclosing Party before making such disclosure. For the avoidance of doubt, Collaborator may, without MSD’s consent, disclose Confidential Information to clinical trial sites and clinical trial investigators performing the Study, the
data safety monitoring and advisory board relating to the Study, and Regulatory Authorities working with Collaborator on the Study, in each case to the extent necessary for the performance of the Study and provided that such Persons (other
than governmental entities) are bound by an obligation of confidentiality at least as stringent as the obligations contained herein. 
 9.2.
Inventions. Notwithstanding the foregoing: (i) Inventions that constitute Confidential Information and are jointly owned by the Parties, shall constitute the Confidential Information of both Parties and each Party shall have the
right to use and disclose such Confidential Information consistent with Articles 10, 11 and 12; and (ii) Inventions that constitute Confidential Information and are solely owned by one Party shall constitute the
Confidential Information of that Party and each Party shall have the right to use and disclose such Confidential Information consistent with Articles 10, 11 and 12. 

9.3. Personal Identifiable Data. All Confidential Information containing personal identifiable data shall be handled in
accordance with all data protection and privacy laws, rules and regulations applicable to such data. 
 9.4. Publicity/Use of
Names. No disclosure of the existence, or the terms, of this Agreement may be made by either Party, and no Party shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employee(s) in any
publicity, promotion, news release or disclosure relating to this Agreement or its subject matter, without the prior express written permission of that other Party, except as may be required by Applicable Law. 

  

					
	

	 	26	 	

 10.     Intellectual Property. 

10.1. Joint Ownership, Prosecution and Enforcement. 

10.1.1. Joint Ownership and Prosecution. 

(a) All rights to all Inventions relating to, or covering, [***] (each a “Jointly Owned Invention”) shall be owned jointly by
Collaborator and MSD. MSD hereby assigns to Collaborator an undivided interest in, to and under any Jointly Owned Inventions that are invented or created solely by MSD or by Persons having an obligation to assign such rights to MSD. Collaborator
hereby assigns to MSD an undivided interest in, to and under any Jointly Owned Inventions that are invented or created solely by Collaborator or by Persons having an obligation to assign such rights to Collaborator. For those countries where a
specific license is required for a joint owner of a Jointly Owned Invention to exploit such Jointly Owned Invention in such countries: (a) MSD hereby grants to Collaborator a perpetual, irrevocable,
non-exclusive, worldwide, royalty-free, fully paid-up license, transferable and sublicensable, under MSD’s right, title and interest in and to all Jointly Owned
Inventions to exploit such Inventions in accordance with the terms of this Agreement; and (b) Collaborator hereby grants to MSD a perpetual, irrevocable, non-exclusive, worldwide, royalty-free, fully paid-up license, transferable and sublicensable, under Collaborator’s right, title and interest in and to all Jointly Owned Inventions to exploit such Inventions in accordance with the terms of this Agreement.
For clarity, the terms of this Agreement do not provide Collaborator or MSD with any rights, title or interest or any license to the other Party’s intellectual property except as necessary to conduct the Study and as expressly provided under
this Agreement, including as set forth in Section 10.4. 
 (b) Each Party shall have the right to [***] 

(c) As necessary following the Effective Date, but in any event as soon as practicable after the discovery of a Jointly Owned Invention,
patent representatives of each of the Parties shall meet (in person or by telephone) to discuss the patenting strategy for any Jointly Owned Inventions that may arise. In particular, the Parties shall discuss which Party will file a Patent
Application in respect of any Jointly Owned Invention (each, a “Joint Patent Application”) or whether the Parties wish to appoint counsel that is mutually acceptable to the Parties to file any such Joint Patent Applications. Unless
otherwise agreed in writing, the Parties shall appoint mutually acceptable outside counsel to prosecute and maintain any Joint Patent Applications. In any event, the Parties shall consult and reasonably cooperate with one another in the preparation,
filing, prosecution (including prosecution strategy) and maintenance of each Joint Patent Application[***] In the event that one Party (the “Filing Party”) wishes to file a Joint Patent Application in respect of a Jointly Owned
Invention and the other Party (the “Non-Filing Party”) does not want to file such Joint Patent Application or does not want to file in a particular country, the
Non-Filing Party shall execute in a timely manner and at the Filing Party’s reasonable expense an assignment of such Jointly Owned Invention to the Filing Party (in such country or all countries, as
applicable) and any additional documents as may be reasonably necessary to allow the Filing Party to file and prosecute such Joint Patent Application. If a Party (the “Opting-out Party”)
wishes to discontinue the prosecution and maintenance [***] of a Joint Patent Application or Joint Patent (in one or more countries), the other Party, at its sole option (the “Continuing Party”), may continue such prosecution and
maintenance. In such event, the Opting-out Party shall execute in a timely manner and at the Continuing Party’s reasonable expense an assignment of such Joint Patent Application or Joint Patent to the
Continuing Party (in such country or all countries, as applicable) and any additional documents as may be necessary to allow the Continuing Party to prosecute and maintain such Joint Patent Application or Joint Patent. Any Jointly Owned Invention,
Joint Patent Application or Joint Patent so assigned shall thereafter be owned solely by the Continuing Party or Filing Party (as applicable), shall no longer be considered jointly owned, and the Non-Filing
Party or Opting-out Party (as applicable) shall have no right to practice under such Joint Patent Application or Joint Patent in the applicable country or countries. 

  

					
	

	 	27	 	

 (d) Except as expressly provided in Section 10.1.1(c) and in furtherance and not in
limitation of Section 9.1, each Party agrees to make no Patent Application based on the other Party’s Confidential Information, and to give no assistance to any Third Party for such application, without the other Party’s prior
written authorization. 
 10.1.2. Patent Enforcement 

(a) Each Party shall promptly notify the other in writing of any actual or threatened infringement or misappropriation by a Third Party of any
Joint Patent or Jointly Owned Invention of which such Party becomes aware (“Third Party Infringement”). 
 (b) Collaborator
shall have the first right to initiate legal action to enforce all Joint Patents and Jointly Owned Inventions against Third Party Infringement, where [***] or to defend any declaratory judgment action relating thereto, at its sole expense. In the
event that Collaborator fails to initiate or defend such action by the earlier of (i) [***] days after first being notified or made aware of such Third Party Infringement and (ii) [***] days before the expiration for initiating
or defending such action, MSD shall have the right to initiate or defend such action at its sole expense. 
 (c) MSD shall have the first
right to initiate legal action to enforce all Joint Patents and Jointly Owned Inventions against Third Party Infringement, where [***] or to defend any declaratory judgment action relating thereto, at its sole expense. In the event that MSD fails to
initiate or defend such action by the earlier of (i) [***] days after first being notified or made aware of such Third Party Infringement and (ii) [***] days before the expiration for initiating or defending such action,
Collaborator shall have the right to do so at its sole expense. 
 (d) The Parties shall cooperate in good faith to jointly control legal
action to enforce all Joint Patents and Jointly Owned Inventions against any Third Party Infringement where [***] or to defend any declaratory judgment action relating thereto, and shall share the costs and expenses of such litigation equally.
Notwithstanding the foregoing, either Party shall have the right to opt-out of controlling such legal action by providing written notice to the other Party by the earliest of (1) [***] days after
first being noticed of such Third Party Infringement, (2) [***] days before the expiration date for filing such action, (3) [***] days before the expiration date for filing an answer to a complaint in a declaratory judgment
action, and (4) if one party notifies the other party of receipt of an application to the U.S. Food & Drug Administration under Section 351(k) of the U.S. Public Health Services Act (42 U.S.C. 262(k)), seeking approval of a
biosimilar or interchangeable biological product of the MSD Compound or the Collaborator Compound, [***] days from such notification. 

  

					
	

	 	28	 	

 (e) If one Party brings any prosecution or enforcement action or proceeding against a Third Party
with respect to any Joint Patent, the second Party agrees to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance and authority to file and prosecute the suit. The costs and expenses of the Party bringing
suit under this Section 10.1.2 shall be borne by such Party, [***] A settlement or consent judgment or other voluntary final disposition of a suit under this Section 10.1.2 may not be entered into without the consent of the Party
not bringing the suit. 
 10.2. Inventions Owned by Collaborator. Notwithstanding anything to the contrary contained in
Section 10.1, the Parties agree that all rights to Inventions relating to [***] regardless of whether such Invention or improvement was invented solely by Collaborator or MSD or jointly by the Parties, are the exclusive property of
Collaborator (“Collaborator Inventions”). Collaborator shall (a) be entitled to file and prosecute in its own name Patent Applications in respect of Collaborator Inventions and (b) own Patents that issue from any such
Patent Applications in respect of Collaborator Inventions. For the avoidance of doubt, any Invention [***] a Collaborator Invention. MSD hereby assigns its right, title and interest to any and all Collaborator Inventions to Collaborator. 

10.3. Inventions Owned by MSD. Notwithstanding anything to the contrary contained in Section 10.1, the Parties agree
that all rights to Inventions relating to [***] regardless of whether such Invention or improvement was invented solely by MSD or Collaborator or jointly by the Parties, are the exclusive property of MSD (“MSD Inventions”). MSD
shall (a) be entitled to file and prosecute in its own name Patent Applications in respect of MSD Inventions and (b) own Patents that issue from any such Patent Applications in respect of MSD Inventions. For the avoidance of doubt [***]
even where [***] is a MSD Invention. Collaborator hereby assigns its right, title and interest to any and all MSD Inventions to MSD. 

  

					
	

	 	29	 	

 10.4. Mutual Freedom to Operate for Combination Inventions. 

10.4.1. Collaborator License to MSD. Collaborator hereby grants to MSD a non-exclusive,
worldwide, royalty-free, fully paid-up, transferable and sublicensable license to any patent Controlled by Collaborator that [***] (the “Collaborator Background Patents”) solely for [***]
provided, however, that in no event shall MSD have the right to exploit Collaborator Background Patents to sell any Collaborator Class Compound, either alone or as part of a combination (including the Combination). 

10.4.2. MSD License to Collaborator. MSD hereby grants to Collaborator a non-exclusive,
worldwide, royalty-free, fully paid-up, transferable and sublicensable license to any patent Controlled by MSD that [***] (the “MSD Background Patents”) solely for [***] provided,
however, that in no event shall Collaborator have the right to exploit MSD Background Patents to sell any PD-1 Antagonist, either alone or as part of a combination (including the Combination). 

10.4.3. No Other Rights. For clarity, the terms of this Section 10.4 do not (a) provide MSD with any rights, title or
interest or any license to the Collaborator Background Patents except [***] or (b) provide Collaborator with any rights, title or interest or any license to the MSD Background Patents except [***] 

10.4.4. Termination. Any and all licenses granted under this Section 10.4 shall terminate upon the expiration or earlier
termination of this Agreement and shall not survive such expiration or termination; provided, however that Section 10.4.1(iii) and Section 10.4.2(iii) shall survive such expiration or termination in accordance with
their respective terms, except as follows: if Collaborator has terminated the Agreement pursuant to Section 6.3 (Termination for Material Breach), Section 10.4.2(iii) shall survive (but not Section 10.4.1(iii));
and if MSD has terminated the Agreement pursuant to Section 6.3 (Termination for Material Breach), Section 10.4.1(iii) shall survive (but not Section 10.4.2(iii)). 

10.4.5. Ownership of Other Inventions. Ownership of all Inventions other than Jointly Owned Inventions, MSD Inventions and Collaborator
Inventions shall be based on inventorship as determined under United States patent law.  

  

					
	

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 11.     Reprints; Rights of Cross-Reference. 

Consistent with applicable copyright and other laws, each Party may use, refer to, and disseminate reprints of scientific, medical and other
published articles and materials from journals, conferences and/or symposia relating to the Study that disclose the name of a Party, provided, however, that such use does not constitute an endorsement of any commercial product or
service by the other Party. 
 12.     Publications; Press Releases. 

12.1. Clinical Trial Registry. Collaborator shall register the Study with the Clinical Trials Registry located at
www.clinicaltrials.gov and is committed to timely publication of the results following Study Completion, after taking appropriate action to secure intellectual property rights (if any) arising from the Study. The publication of the results of the
Study will be in accordance with the Protocol. 
 12.2. Publication. Each Party shall use reasonable efforts to publish or
present scientific papers dealing with the Study in accordance with accepted scientific practice. The Parties agree that prior to submission of the results of the Study for publication or presentation or any other dissemination of such results
including oral dissemination, the publishing Party shall invite the other to comment on the content of the material to be published, presented, or otherwise disseminated according to the following procedure: 

12.2.1. At least [***] days prior to submission for publication of any paper, letter or any other publication, or [***] days prior to
submission for presentation of any abstract, poster, talk or any other presentation, the publishing Party shall provide to the other Party the full details of the proposed publication, presentation, or dissemination in an electronic version (email
attachment). Upon written request from the other Party, the publishing Party agrees not to submit data for publication/presentation/dissemination for an additional [***] days in order to allow for actions to be taken to preserve rights for patent
protection. 
 12.2.2. The publishing Party shall give reasonable consideration to any request by the other Party made within the periods
mentioned in Section 12.2.1 to modify the publication and the Parties shall work in good faith and in a timely manner to resolve any issue regarding the content for publication. 

12.2.3. The publishing Party shall remove all Confidential Information of the other Party before finalizing the publication. 

12.3. Press Releases. Unless otherwise required by Applicable Law, neither Party shall make any public announcement concerning
this Agreement without the prior written consent of the other Party. To the extent a Party desires to make such public announcement, such Party shall provide the other Party with a draft thereof at least [***] Business Days prior to the date on
which such Party would like to make the public announcement. 

  

					
	

	 	31	 	

 13.     Representations and Warranties; Disclaimers. 

13.1. Due Authorization. Each of Collaborator and MSD represents and warrants to the other that: (a) it has the corporate
power and authority and the legal right to enter into this Agreement and perform its obligations hereunder; (b) it has taken all necessary corporate action on its part required to authorize the execution and delivery of this Agreement and the
performance of its obligations hereunder; and (c) this Agreement has been duly executed and delivered on behalf of such Party and constitutes a legal, valid and binding obligation of such Party that is enforceable against it in accordance with
its terms. 
 13.2. Compounds. 

13.2.1. Collaborator Compound. Collaborator hereby represents and warrants to MSD that: (a) Collaborator has the full right, power
and authority to grant all of the licenses granted to MSD under this Agreement; and (b) Collaborator Controls the Collaborator Compound. 

13.2.2. MSD Compound. MSD hereby represents and warrants to Collaborator that: (a) MSD has the full right, power and authority to
grant all of the licenses granted to Collaborator under this Agreement; and (b) MSD Controls the MSD Compound. 
 13.3.
Results. Collaborator does not undertake that the Study shall lead to any particular result, nor is the success of the Study guaranteed. Neither Party shall be liable for any use that the other Party may make of the Clinical Data or
shared Sample Testing Results, nor for advice or information given in connection therewith. 
 13.4. Anti-Corruption. 

13.4.1. In performing their respective obligations hereunder, the Parties acknowledge that the corporate policies and/or Codes of Conduct of
Collaborator and MSD and their respective Affiliates require that each Party’s business be conducted within the letter and spirit of the law. By signing this Agreement, each Party agrees to conduct the business contemplated herein in a manner
that is consistent with all Applicable Law, including the Stark Act, Anti-Kickback Statute, Sunshine Act, and the U.S. Foreign Corrupt Practices Act and agrees to abide by the spirit of the other Party’s guidelines, which may be provided by
such other Party from time to time. 
 13.4.2. Specifically, each Party represents and warrants that it and Third Parties acting on its
behalf have not, and covenants that it, its Affiliates, and its and its Affiliates’ directors, employees, officers, and anyone acting on its behalf, will not, in connection with the performance of this Agreement, directly or indirectly, make,
promise, authorize, ratify or offer to make, or take any action in furtherance of, any payment or transfer of anything of value for the purpose of influencing, inducing or rewarding any act, omission or decision to secure an improper advantage; or
improperly assisting it in obtaining or retaining business for it or the other Party, or in any way with the purpose or effect of public or commercial bribery. 

13.4.3. Neither Party shall contact, or otherwise knowingly meet with, any Government Official for the purpose of discussing activities
arising out of or in connection with this Agreement, without the prior written approval of the other Party, except where such meeting is consistent with the purpose and terms of this Agreement and in compliance with Applicable Law. 

  

					
	

	 	32	 	

 13.4.4. Each Party represents and warrants that it (a) is not excluded, debarred, suspended,
proposed for suspension or debarment, in Violation or otherwise ineligible for government programs; (b) has not employed or subcontracted with any Person for the performance of the Study who is excluded, debarred, suspended, proposed for
suspension or debarment, or is in Violation or otherwise ineligible for government programs; and (c) has conducted anti-corruption and bribery (e.g., FCPA) due diligence review of all Third Parties it may hire to act on its behalf in connection
with its performance under this Agreement. 
 13.4.5. Each Party represents and warrants that, except as disclosed to the other in writing
prior to the Effective Date, such Party: (a) does not have any interest that directly or indirectly conflicts with its proper and ethical performance of this Agreement; (b) shall maintain arm’s length relations with all Third Parties
with which it deals for or on behalf of the other in performance of this Agreement; and (c) has provided complete and accurate information and documentation to the other Party, the other Party’s Affiliates and its and their personnel in
the course of any due diligence conducted by the other Party for this Agreement, including disclosure of any officers, employees, owners or Persons directly or indirectly retained by such Party in relation to the performance of this Agreement who
are Government Officials or relatives of Government Officials. Each Party shall make all further disclosures to the other Party as are necessary to ensure the information provided remains complete and accurate throughout the Term. Subject to the
foregoing, each Party agrees that it shall not hire or retain any Government Official to assist in its performance of this Agreement, with the sole exception of conduct of or participation in clinical trials under this Agreement, provided
that such hiring or retention shall be subject to the completion by the hiring or retaining Party of a satisfactory anti-corruption and bribery (e.g., FCPA) due diligence review of such Government Official. Each Party further covenants that any
future information and documentation submitted to the other Party as part of further due diligence or a certification shall be complete and accurate. 

13.4.6. Each Party shall have the right during the Term, [***] to conduct an investigation and audit of the other Party’s activities,
books and records, to the extent they relate to that other Party’s performance under this Agreement, to verify compliance with the terms of this Section 13.4. Such other Party shall cooperate fully with such investigation or audit,
the scope, method, nature and duration of which shall be at the sole reasonable discretion of the Party requesting such audit. 
 13.4.7.
Each Party shall use commercially reasonable efforts to ensure that all transactions under the Agreement are properly and accurately recorded in all material respects on its books and records and that each document upon which entries in such books
and records are based is complete and accurate in all material respects. Each Party further represents, warrants and covenants that all books, records, invoices and other documents relating to payments and expenses under this Agreement are and shall
be complete and accurate and reflect in reasonable detail the character and amount of transactions and expenditures. Each Party shall maintain a system of internal accounting controls reasonably designed to ensure that no off-the-books or similar funds or accounts will be maintained or used in connection with this Agreement. 

13.4.8. Each Party agrees that in the event that the other Party believes in good faith that there has been a possible violation of any
provision of Section 13.4, such other Party may make full disclosure of such belief and related information needed to support such belief at any time and for any reason to any competent government bodies and agencies, and to anyone else
such Party determines in good faith has a legitimate need to know. 

  

					
	

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 13.4.9. Each Party shall comply with its own ethical business practices policy and any corporate
integrity agreement (if applicable) to which it is subject, and shall conduct its Study-related activities in accordance with Applicable Law. Each Party shall ensure that all of its employees involved in performing its obligations under this
Agreement are made specifically aware of the compliance requirements under this Section 13.4. In addition, each Party shall ensure that all such employees participate in and complete mandatory compliance training to be conducted by each
Party, including specific training on anti-bribery and corruption, prior to his/her performance of any obligations or activities under this Agreement. Each Party shall certify its continuing compliance with the requirements under this
Section 13.4 on a periodic basis during the Term in such form as may be reasonably specified by the other Party. 
 13.4.10.
Each Party shall have the right to terminate this Agreement immediately upon violation of this Section 13.4 in accordance with Section 6.6. 

13.5. DISCLAIMER. EXCEPT AS EXPRESSLY PROVIDED HEREIN, MSD MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE MSD COMPOUND, AND COLLABORATOR MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE
COLLABORATOR COMPOUND. 
 14.     Insurance; Indemnification; Limitation of Liability. 

14.1. Insurance. Each Party warrants that it maintains a policy or program of insurance or self-insurance at levels sufficient to
support the indemnification obligations assumed herein. Upon request, a Party shall provide evidence of such insurance. 
 14.2.
Indemnification. 
 14.2.1. Indemnification by Collaborator. Collaborator agrees to defend, indemnify and hold harmless
MSD, its Affiliates, and its and their employees, directors, Subcontractors and agents from and against any loss, damage, reasonable costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with any claim,
proceeding, or investigation by a Third Party arising out of [***] (a “Liability”), except to the extent that such Liability [***] 

14.2.2. Indemnification by MSD. MSD agrees to defend, indemnify and hold harmless Collaborator, its Affiliates, and its and their
employees, directors, Subcontractors and agents from and against any Liability to the extent such Liability [***] 

  

					
	

	 	34	 	

 [***] 

14.2.3. Procedure. The obligations of MSD and Collaborator under this Section 14.2 are conditioned upon the delivery of written
notice to MSD or Collaborator, as the case might be, of any potential Liability within a reasonable time after a Party becomes aware of such potential Liability. The indemnifying Party will have the right to assume the defense of any suit or claim
related to the Liability (using counsel reasonably satisfactory to the indemnified Party) if it has assumed responsibility for the suit or claim in writing; provided that the indemnified Party may assume the responsibility for such defense to
the extent the indemnifying Party does not do so in a timely manner). The indemnified Party may participate in (but not control) the defense thereof at its sole cost and expense. The Party controlling such defense (the “Defending
Party”) shall keep the other Party (the “Other Party”) advised of the status of such action, suit, proceeding or claim and the defense thereof and shall consider recommendations made by the Other Party with respect thereto.
The Defending Party shall not agree to any settlement of such action, suit, proceeding or claim without the prior written consent of the Other Party, which shall not be unreasonably withheld. The Defending Party, but solely to the extent the
Defending Party is also the indemnifying Party, shall not agree to any settlement of such action, suit, proceeding or claim or consent to any judgment in respect thereof that does not include a complete and unconditional release of the Other Party
from all liability with respect thereto or that imposes any liability or obligation on the Other Party without the prior written consent of the Other Party. 

14.2.4. Study Subjects. Collaborator shall not offer compensation on behalf of MSD to any Study subject or bind MSD to any
indemnification obligations in favor of any Study subject. MSD shall not offer compensation on behalf of Collaborator to any Study subject or bind Collaborator to any indemnification obligations in favor of any Study subject. 

14.3. LIMITATION OF LIABILITY. IN NO EVENT SHALL EITHER PARTY (OR ANY OF ITS AFFILIATES OR SUBCONTRACTORS) BE LIABLE TO THE
OTHER PARTY UNDER ANY THEORY FOR, NOR SHALL ANY INDEMNIFIED PARTY HAVE THE RIGHT TO RECOVER, ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR OTHER SIMILAR DAMAGES OR ANY PUNITIVE DAMAGES OR ANY LOST PROFIT, LOST SALE OR LOST OPPORTUNITY DAMAGES
(WHETHER SUCH CLAIMED DAMAGES ARE DIRECT OR INDIRECT), WHETHER ARISING DIRECTLY OR INDIRECTLY OUT OF (A) THE MANUFACTURE OR USE OF ANY COMPOUND SUPPLIED HEREUNDER OR (B) ANY BREACH OF OR FAILURE TO PERFORM ANY OF THE PROVISIONS OF THIS
AGREEMENT OR ANY REPRESENTATION, WARRANTY OR COVENANT CONTAINED IN OR MADE PURSUANT TO THIS AGREEMENT, EXCEPT THAT SUCH LIMITATION SHALL NOT APPLY TO DAMAGES PAID OR PAYABLE TO A THIRD PARTY BY AN INDEMNIFIED PARTY FOR WHICH THE INDEMNIFIED PARTY IS
ENTITLED TO INDEMNIFICATION HEREUNDER OR WITH RESPECT TO DAMAGES ARISING OUT OF OR RELATED TO A PARTY’S BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT WITH RESPECT TO USE, DISCLOSURE, LICENSE, ASSIGNMENT OR OTHER TRANSFER OF CLINICAL DATA,
CONFIDENTIAL INFORMATION, JOINTLY-OWNED INVENTIONS AND SAMPLE TESTING RESULTS. 

  

					
	

	 	35	 	

 15.     Use of Name. 

Except as otherwise provided herein, neither Party shall have any right, express or implied, to use in any manner the name or other designation
of the other Party or any other trade name, trademark or logo of the other Party for any purpose in connection with the performance of this Agreement without the other Party’s prior written consent. 

16.     Force Majeure. 

If, in the performance of this Agreement, one of the Parties is prevented, hindered or delayed by reason of any cause beyond such Party’s
reasonable control (e.g., war, riots, fire, strike, acts of terror, governmental laws), such Party shall be excused from performance to the extent that it is necessarily prevented, hindered or delayed (“Force Majeure”). The non-performing Party shall notify the other Party of such Force Majeure within [***] days after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration,
and any action being taken to avoid or minimize its effect. The suspension of performance will be of no greater scope and no longer duration than is necessary and the non-performing Party shall use
commercially reasonable efforts to remedy its inability to perform. 
 17.     Entire Agreement; Amendment; Waiver. 

This Agreement, together with the Exhibits and Schedules hereto and the Related Agreements, constitutes the sole, full and complete agreement
by and between the Parties with respect to the subject matter of this Agreement, and all prior agreements, understandings, promises and representations, whether written or oral, with respect thereto are superseded by this Agreement. In the event of
a conflict between a Related Agreement and this Agreement, the terms of this Agreement shall control. No amendments, changes, additions, deletions or modifications to or of this Agreement shall be valid unless reduced to writing and signed by the
Parties hereto. Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of
the Party waiving such term or condition. The waiver by either Party of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by
said other Party whether of a similar nature or otherwise. 
 18.     Assignment and Affiliates. 

Neither Party shall assign or transfer this Agreement without the prior written consent of the other Party; provided, however,
that either Party may assign all or any part of this Agreement to one or more of its Affiliates without the other Party’s consent, and any and all rights and obligations of either Party may be exercised or performed by its Affiliates,
provided that such Affiliates agree to be bound by this Agreement. 
 19.     Invalid Provision. 

If any provision of this Agreement is held to be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and
effect and will not be affected by the illegal, invalid or unenforceable provision. In lieu of the illegal, invalid or unenforceable provision, the Parties shall negotiate in good faith to agree upon a reasonable provision that is legal, valid and
enforceable to carry out as nearly as practicable the original intention of the entire Agreement. 

  

					
	

	 	36	 	

 20.     No Additional Obligations. 

Collaborator and MSD have no obligation to renew this Agreement or apply this Agreement to any clinical trial other than the Study. Nothing in
this Agreement obligates the Parties to enter into any other agreement (other than the Related Agreements) at this time or in the future. 

21.     Governing Law; Dispute Resolution. 

21.1. The Parties shall attempt in good faith to settle all disputes arising out of or in connection with this Agreement in an amicable manner.
Any claim, dispute or controversy arising out of or relating to this Agreement, including the breach, termination or validity hereof or thereof, shall be governed by and construed in accordance with the substantive laws of the State of New York,
without giving effect to its choice of law principles. 
 21.2. Nothing contained in this Agreement shall deny either Party the right to
seek injunctive or other equitable relief from a court of competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm, and such an action may be filed or maintained notwithstanding any ongoing discussions between
the Parties. 
 22.     Notices. 

All notices or other communications that are required or permitted hereunder shall be in writing and delivered personally, sent by facsimile or
email (and promptly confirmed by personal delivery or overnight courier), or sent by internationally-recognized overnight courier addressed as follows: 

If to Collaborator, to: 
 Celyad Oncology SA

 Edouard Belin 2 
 1435
Mont-Saint-Guibert 
 Belgium 

Attention: Legal Department 
 If to MSD, to: 

MSD International GmbH 

Weystrasse 20 
 6006 Luzern 

Switzerland 
 Attention: Director

 Facsimile: [***] 

  

					
	

	 	37	 	

 With copies (which shall not constitute notice) to: 

Merck Sharp & Dohme Corp. 

One Merck Drive 
 PO Box 100 

Whitehouse Station, NJ 08889-0100 

Attention: Office of Secretary 

Email: [***] 
 Merck
Sharp & Dohme Corp. 
 351 North Sumneytown Pike 

Mailstop UG4CD-16 

North Wales, PA 19454-2505 

Attention: Senior Vice President, Research Science 

Merck Sharp & Dohme Corp. 

2000 Galloping Hill Road 

Mailstop K-1-3045 

Kenilworth, NJ 07033-1310 

Attention: Assistant General Counsel, Corporate Transactions 

23.     Relationship of the Parties. 

The relationship between the Parties is and shall be that of independent contractors, and does not and shall not constitute a partnership,
joint venture, agency or fiduciary relationship. Neither Party shall have the authority to make any statements, representations or commitments of any kind, or take any actions, that are binding on the other Party, except with the prior written
consent of the other Party to do so. All Persons employed by a Party will be the employees of such Party and not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense of such
Party. 
 24.     Counterparts and Due Execution. 

This Agreement and any amendment may be executed in any number of counterparts (including by way of facsimile or electronic transmission), each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument, notwithstanding any electronic transmission, storage and printing of copies of this Agreement from computers or printers. When executed by
the Parties, this Agreement shall constitute an original instrument, notwithstanding any electronic transmission, storage and printing of copies of this Agreement from computers or printers. For clarity, facsimile signatures and signatures
transmitted via PDF shall be treated as original signatures. 

  

					
	

	 	38	 	

 25.     Construction. 

Except where the context otherwise requires, wherever used, the singular will include the plural, the plural the singular, the use of any
gender will be applicable to all genders, and the word “or” is used in the inclusive sense (and/or). Whenever this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. The captions
of this Agreement are for convenience of reference only and in no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The term “including” as used
herein shall be deemed to be followed by the phrase “without limitation” or like expression. The term “will” as used herein means shall. The terms “hereof”, “hereto”,
“herein” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement. References to “Article,”
“Section”, “Exhibit” or “Schedule” are references to the numbered sections of this Agreement and the appendices attached to this Agreement, unless expressly stated otherwise. A reference to any
statute, law, rule, regulation or directive will be construed as a reference to such statute, law, rule, regulation or directive as amended, extended, repealed and replaced or re-enacted from time to time.
Except where the context otherwise requires, references to this “Agreement” shall include the appendices attached to this Agreement. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties
and no rule of strict construction will be applied against either Party hereto. 
 [Remainder of page intentionally left blank.] 

  

					
	

	 	39	 	

 IN WITNESS WHEREOF, the respective representatives of the Parties have executed this Agreement as
of the Effective Date. 
  

			
	Celyad Oncology SA
		
	By:	 	 /s/ Filippo Petti

	
	 Filippo Petti

	Name
	
	 Chief Executive Officer

	Title
	
	MSD International GmbH
		
	By:	 	 /s/ [ILLEGIBLE]

	
	  

	Name
	
	  

	Title

  

					
	

	 		 	

 Exhibit A 

PROTOCOL SUMMARY 
  

 
 Clinical Study Extended Synopsis 

 

			
	Title	  	An open-label, Phase Ib study to assess the safety and clinical activity of CYAD-101 administered concurrently with FOLFIRI chemotherapy, followed by pembrolizumab treatment, in patients with
metastatic colorectal cancer
		  	KEYNOTE-B79
		
	Indication	  	Metastatic colorectal cancer
		
		  	[***]
		  	The remainder of Exhibit A has been redacted in its entirety.

  
  

Confidentiality Statement 

This document contains confidential, proprietary information of Celyad Oncology SA. 

Further dissemination, distribution or copying of this document or its contents is strictly prohibited. 

These restrictions on disclosure will apply equally to all future information supplied. 

  
 

 

 Exhibit B 

SUPPLY OF COMPOUND 
 [***] 

Schedule of Deliveries for Collaborator Compound 
  

					
	 Delivery Date
	  	Quantity of Bags	 
	 [***]
	  	 	[***]	 
		  			
		  			
		  	  
	  
	 
	 Total
	  	 	[***]	 
		  	  
	  
	 

 Schedule of Deliveries for MSD Compound1  

 

			
	 Delivery Date
	  	  Quantity of Vials  
(Liquid - [***] vial)
	 [***]
	  	[***]
	 [***]
	  	[***]
		  	  

	 Total
	  	[***]
		  	  

 Notes: 
  

	1)	 MSD Compound delivery dates and quantities are estimated. Dates and quantities may change based on study
requirements in agreement between the parties. Total quantities should not exceed [***] of the estimated total quantity listed in this Appendix. 

	2)	 Second and subsequent shipments of Pembrolizumab are subject to a favorable decision set forth in
Section 2.2 of the Agreement. 

	3)	 Collaborator’s Compound delivery dates and quantities are estimated. Dates and quantities may change based
on study requirements in agreement between the parties. Delivery dates will be calculated based on dates of patient registration. 

  

 

  

					
	

	 		 	

 Schedule I 

DATA SHARING SCHEDULE 
 [***]
Redacted [***] 

  

					
	

	 		 	

 PHASE I ONCOLOGY ANALYSIS AND
REPORTING ESSENTIAL 
 TABLES/FIGURES/LISTINGS 

Demographic 
  

	 	•	 	 Disposition of Subjects (ASaT Population) 

 

	 	•	 	 Subject Characteristics (ASaT Population) 

Safety 
  

	 	•	 	 Adverse Event Summary (ASaT Population) 

 

	 	•	 	 Subjects with Adverse Events by Decreasing Incidence (Incidence 310%
in One or More Treatment Groups) (ASaT Population) 

  

	 	•	 	 Subjects with Drug-Related Adverse Events by Decreasing Incidence (Incidence >0% in One or More Treatment
Groups) (ASaT Population) 

  

	 	•	 	 Subjects with Adverse Events by Maximum Toxicity Grade (Incidence
31% in One or More Treatment Groups) (ASaT Population) 

  

	 	•	 	 Summary of Dose Limiting Toxicity (DLT Evaluable Population) 

 

	 	•	 	 Listing of Subjects with Dose Limiting Toxicity Adverse Events (DLT Evaluable Population) 

 

	 	•	 	 Summary of Exposure (ASaT Population) 

Efficacy 
  

	 	•	 	 Summary of Best Overall Response Based on Investigator Assessment per RECIST 1.1 (ASaT Population)

  

	 	•	 	 Listing of Patients Best Response and Progression Free Survival per RECIST 1.1 (ASaT Population)

  

	 	•	 	 Summary of Time to Response and Duration of Response Based on RECIST 1.1 per Central Radiology Assessment in
Subjects with Confirmed Response 

  

	 	•	 	 Summary of Progression-Free Survival (PFS) 

 

	 	•	 	 Summary of Overall Survival 

Figures 
  

	 	•	 	 Kaplan-Meier Estimates of Progression-free Survival 

 

	 	•	 	 Kaplan-Meier Estimates of Overall Survival 

 

	 	•	 	 Swimmer Plot: Time on Study Treatment and Time to Best Overall Response Based on Investigator Assessment per
RECIST 1.1 

  

	 	•	 	 Waterfall Plot of Maximum Percentage Change from Baseline in Target Lesions Based on Investigator Assessment per
RECIST 1.1 

  

	 	•	 	 Spider Plot of Percent Change in Target Lesions From Baseline Based on Investigator Assessment per RECIST 1.1

  

					
	

	 		 	

 Schedule II: 

SAMPLE TESTING SCHEDULE 
 [***]
Redacted [***] 

  

					
	

	 		 	

 Schedule III – 

THIRD PARTIES PROVIDING STUDY ACTIVITIES 

[***] Redacted [***]

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