Document:

atra-ex1032_525.htm

Exhibit 10.32

 

 

Execution Copy

AMENDMENT NUMBER ONE

TO THE

EXCLUSIVE OPTION AGREEMENT

 

This Amendment Number One (the “Amendment”) to the Exclusive Option Agreement is entered into as of the 12th day of June, 2015 (the “Amendment Effective Date”) by and among Memorial Sloan Kettering Cancer Center (“MSK”) a New York membership corporation, with principal offices at 1275 York Avenue, New York, New York 10065, and Atara Biotherapeutics, Inc., corporation with offices at 701 Gateway Blvd., Suite 200, South San Francisco, California 94080 (“Company”).

RECITALS

WHEREAS, MSK granted an exclusive option to Company in accordance with that certain Exclusive Option Agreement dated September 19, 2014 (the “Original Option Agreement”); and

WHEREAS, MSK and Company now desire to amend the Option Agreement to amend and restate the form of Exclusive License Agreement attached to the Option Agreement as Exhibit B.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, MSK and Company each agrees as follows:

1.DEFINITIONS

Capitalized terms used herein and not defined elsewhere herein have the meanings set forth in the Original Option Agreement.

2.AMENDMENTS

 

2.1Exhibit B of the Original Option Agreement shall be deleted and replaced in its entirety by the form of Exclusive License Agreement attached hereto.

 

2.2Section 8.3 of the Original Option Agreement shall be deleted and replaced in its entirety as follow:

 

Upon the expiration or termination of this Agreement, all rights (including the Option) granted to and obligations of COMPANY shall terminate, and unless COMPANY exercises the Option prior to the end of the Initial Development Period, COMPANY shall (i) immediately discontinue all use of Option Products, Tangible Materials and Know-How, and Confidential Information of MSK; and (ii) within 30 days return to MSK or certify to MSK (at MSK’s election) the destruction of all Option Products, Tangible Materials and Know-How, and Confidential Information of MSK. Notwithstanding the foregoing, Articles 4, 5 and 9 shall survive any expiration or termination of the Agreement.

 

 

 

3.MISCELLANEOUS

 

3.1Other Terms. All other terms and conditions of the Original Option Agreement shall remain in full force and effect.

3.2Counterparts. This Amendment may be executed in any number of counterparts, each of which will be deemed all original, and all of which together will constitute one and the same instrument.

[Remainder of Page Intentionally Left Blank]

2

 

 

 

IN WITNESS WHEREOF, the Parties hereby execute this Amendment Number One to the Exclusive Option Agreement as of the date first written above.

 

ATARA BIOTHERAPEUTICS, INC.

 

By: /s/ Issac Ciechanover

Name: Issac Ciechanover

Title: CEO and President

 

 

 

MEMORIAL SLOAN KETTERING CANCER CENTER

 

By: /s/ Gregory Raskin

Name: Gregory Raskin, MD

Title: Vice President, Technology Development

 

3

 

 

EXHIBIT B

FORM OF LICENSE AGREEMENT

 

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

EXCLUSIVE LICENSE AGREEMENT

for MSK’s technology

EBV/CMV and WT1 specific T-cells

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

TABLE OF CONTENTS

 

					
	
 
	
 
	
 
	
 
	
 

	
 
	
  
	
Page
	
 

	
ARTICLE 1 – DEFINITIONS
	
  
	
 
	
1
	
  

	
ARTICLE 2 – GRANT; KNOW HOW TRANSFER
	
  
	
 
	
8
	
  

	
ARTICLE 3 – SUBLICENSES
	
  
	
 
	
13
	
  

	
ARTICLE 4 – DILIGENCE
	
  
	
 
	
14
	
  

	
ARTICLE 5 – PAYMENTS
	
  
	
 
	
14
	
  

	
ARTICLE 6 – REPORTS AND RECORDS
	
  
	
 
	
17
	
  

	
ARTICLE 7 – PATENT PROSECUTION; THE LICENSED PATENTS
	
  
	
 
	
18
	
  

	
ARTICLE 8 – INFRINGEMENT
	
  
	
 
	
20
	
  

	
ARTICLE 9 – MANUFACTURE AND SUPPLY
	
  
	
 
	
21
	
  

	
ARTICLE 10 – CONFIDENTIALITY
	
  
	
 
	
22
	
  

	
ARTICLE 11 – INDEMNIFICATION, PRODUCT LIABILITY
	
  
	
 
	
23
	
  

	
ARTICLE 12 – REPRESENTATIONS, WARRANTIES AND DISCLAIMERS
	
  
	
 
	
24
	
  

	
ARTICLE 13 – COMPLIANCE WITH LAW
	
  
	
 
	
26
	
  

	
ARTICLE 14 – NON-USE OF MSK’S NAME
	
  
	
 
	
27
	
  

	
ARTICLE 15 – PUBLICATION
	
  
	
 
	
27
	
  

	
ARTICLE 16 – ASSIGNMENT
	
  
	
 
	
28
	
  

	
ARTICLE 17 – TERMINATION
	
  
	
 
	
28
	
  

	
ARTICLE 18 – NOTICES AND OTHER COMMUNICATIONS
	
  
	
 
	
31
	
  

	
ARTICLE 19 – MISCELLANEOUS PROVISIONS
	
  
	
 
	
31
	
  

	
EXHIBIT A    LICENSED TANGIBLE MATERIALS AND LICENSED KNOW-HOW
	
  
	
 
	
 
	
 

	
EXHIBIT B    FORM OF DILIGENCE REPORT
	
  
	
 
	
 
	
 

	
EXHIBIT C    LICENSED PATENT RIGHTS
	
  
	
 
	
 
	
 

	
EXHIBIT D    EXCLUDED PATENTS
	
  
	
 
	
 
	
 

	
EXHIBIT E    FORM OF PRESS RELEASE
	
  
	
 
	
 
	
 

	
EXHIBIT F    FORM OF MATERIAL TRANSFER AGREEMENT
	
  
	
 
	
 
	
 

	
EXHIBIT G    MSK INVESTIGATOR SPONSORED TRIAL PROTOCOLS
	
  
	
 
	
 
	
 

 

i

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

5

 

 

 

 

EXCLUSIVE LICENSE AGREEMENT

THIS EXCLUSIVE LICENSE AGREEMENT (the “ Agreement ”), entered into effective as of June 12, 2015 (“ Effective Date ”), is by and between Memorial Sloan Kettering Cancer Center (“ MSK ”), a New York not-for-profit corporation with principal offices at 1275 York Avenue, New York, NY 10065, and Atara Biotherapeutics, Inc. (“ Licensee ”), a corporation with offices at 701 Gateway Blvd, Suite 200, South San Francisco, CA 94080. MSK and Licensee are sometimes referred to singly as “ Party ” and collectively as “ Parties .”

WITNESSETH

WHEREAS , MSK owns certain Licensed Rights (as later defined herein) and desires to have the Licensed Rights utilized in the public interest;

WHEREAS , Licensee and MSK previously entered into that certain Exclusive Option Agreement, dated September 19, 2014, as amended effective June 12, 2015 (the “ Option Agreement ”), under which ( inter alia ) MSK granted Licensee the exclusive option (the “ Option ”) to obtain exclusive license rights to the Licensed Rights and possibly to obtain from MSK supply of certain products covered by such license rights, pursuant to the terms of this Agreement;

WHEREAS , Licensee has exercised the Option and thus obtains the exclusive license to the Licensed Rights to commercially develop and commercialize the Licensed Rights through a commercially reasonable, diligent program of exploiting the Licensed Rights whereby public utilization shall result therefrom; and

WHEREAS , MSK is willing to grant such license to Licensee, and to supply such products, on the terms and conditions that follow;

NOW, THEREFORE , in consideration of the premises and the mutual covenants contained herein, the Parties hereto agree as follows:

ARTICLE 1 – DEFINITIONS

For the purpose of this Agreement, the following capitalized words and phrases shall have the following meanings:

 

			
	
 
	
1.1
	
“ Additional Antigens ” has the meaning ascribed to such term in the Option Agreement.

 

			
	
 
	
1.2
	
“ Affiliate ” means, with respect to a Party, any person, firm, corporation or other entity controlling, controlled by, or under common control with such Party hereto. The term “controlling” as used in this definition (with correlative meanings for the terms “controlled by” and “under common control with”) means that the applicable person, firm, corporation or other entity has the actual ability (directly or indirectly) to direct and control the management and business of the applicable Party, whether through ownership, directly or indirectly, of more than fifty percent (50%) of the voting capital, or the ability to effect the election of a majority of the directors, or

 

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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by contract or otherwise. In any jurisdiction where 50% control is not permitted by applicable law, the “greater than 50%” threshold shall be deemed satisfied by the possession of substantially the maximum percentage allowable in such jurisdiction. With regard to MSK, “ Affiliate ” shall include Sloan Kettering Institute for Cancer Research and the Memorial Hospital for Cancer and Allied Diseases.

 

			
	
 
	
1.3
	
“ Ancillary Agreement ” means each of the Option Agreement, the Manufacturing Services Agreement, the Data Services Agreement or any clinical trial agreement or investigator sponsored trial agreement between the Parties with respect to a Licensed Product.

 

			
	
 
	
1.4
	
“ CMV Product ” means (a) any CMV-specific T-cells or cell line that are part of the Library, together with (b) such additional CMV-specific T-cells or cell lines that were or may be developed during the term of the Option Agreement or this Agreement in the laboratory of Dr. Richard O’Reilly or otherwise pursuant to plans approved by the PRC or the Steering Committee (but for clarity not including any Excluded Products), [ * ] .

 

			
	
 
	
1.5
	
“ Combination Product ” means a finished pharmaceutical product that comprises a Licensed Product and further comprises one or more other active pharmaceutical ingredients (that is, drug substances, and excluding, for clarity, excipients, formulation ingredients, adjuvants, delivery devices and the like).

 

			
	
 
	
1.6
	
“ Commercially Reasonable Efforts ” means, with respect to particular obligations or tasks, such level of efforts applied to carry out such obligations or tasks consistent with the efforts used in the biopharmaceutical industry by a company of comparable size in connection with the development or commercialization of biopharmaceutical products that are of similar status, to accomplish such obligations or tasks, at the same stage of development or commercialization, as applicable, for internally developed healthcare products in a similar area with similar market potential, at a similar stage of their product life taking into account the existence of third party (not Licensee’s own) competitive products in the market place or under development, the proprietary position of the product, the regulatory structure involved, the anticipated profitability of the product and other commercially-relevant factors. It is understood that such factors may change from time to time based upon changing scientific, business and marketing and return on investment considerations and that the level of efforts typically devoted by Licensee may also change, based on such changes and/or changes in development or commercial stage.

 

			
	
 
	
1.7
	
“ Confidential Information ” means, with respect to a Party, all confidential or proprietary information disclosed by such Party to the other Party in connection with this Agreement, which may include methods or manufacture or use, formulations, clinical data, test results, and research and development plans, whether in oral, graphic, electronic, or any other media or form.

 

2

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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1.8
	
“ Contract Quarter-Year ” means any of the three month periods ending on March 31, June 30, September 30 and December 31 of each calendar year.

 

			
	
 
	
1.9
	
“ Database ” means any database or other similar collection of data in MSK’s possession that correlates or links, for the donors of cells in the Library, HLA typing (and other similar blood type data or analysis) with the cell type and the donor of the cells in MSK’s possession at any time during the term of this Agreement; provided that [ * ] and [ * ] and [ * ] .

 

			
	
 
	
1.10
	
“ EBV Product ” means (a) any EBV-specific T-cells or cell line that are part of the Library, together with (b) such additional EBV-specific T-cells or cell lines that were or may be developed during the term of the Option Agreement or this Agreement in the laboratory of Dr. Richard O’Reilly or otherwise pursuant to plans approved by the PRC or the Steering Committee (but for clarity not including any Excluded Products), [ * ] .

 

			
	
 
	
1.11
	
“ Excluded IP ” means: (a) inventions or discoveries [ * ] , together with and patents and patent applications claiming inventions [ * ] , that are (i)  [ * ] , but only so long as [ * ] , or (ii)  [ * ] , but only so long as [ * ] or [ * ] ; and (b) the patents and applications listed on Exhibit D hereto. MSK covenants and warrants that the Database, Library, EBV Products, CMV Products, and WT1 Products are not within the “ Excluded IP .”

 

			
	
 
	
1.12
	
“ Excluded Products ” means all [ * ] products (a)  [ * ] , or (b) that are [ * ] . MSK covenants and warrants that the EBV Products, CMV Products, and WT1 Products are not within the “ Excluded Products .”

 

3

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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1.13
	
“ Field of Use ” means all therapeutic, prophylactic, diagnostic and other healthcare-related uses (including research and development in the field of healthcare).

 

			
	
 
	
1.14
	
“ Follow-On Product ” means any product developed under a Sponsored Research Program (as contemplated in Section 2.10 of the Option Agreement) conducted by MSK under Licensee funding pursuant to Section 2.10(b) or 2.10(c) of the Option Agreement, for which Licensee exercised its option under such Section.

 

			
	
 
	
1.15
	
“ Library ” means the collection of T-cells and cell lines, including “donor” T-cell lines, created, isolated or developed at MSK in the laboratory of Dr. Richard O’Reilly, as existing on the Effective Date, including all such cells or cell lines identified in Exhibit A of this Agreement, and including all additions, augmentations or modifications made to the foregoing collection.

 

			
	
 
	
1.16
	
“ Licensed Know-How ” means all know-how, inventions (whether or not patentable), data, results, protocols, regulatory filings, assays and other information relating to or useful for making, propagating, improving, maintaining and/or using the Licensed Products and/or the Library, that are owned or controlled by MSK at any time during the Term of this Agreement, including the Databases, and including the information generally described in the applicable section of Exhibit A of this Agreement.

 

			
	
 
	
1.17
	
“ Licensed Patent Rights ” means:

 

			
	
 
	
(a)
	
The patents and applications (if any) listed on Exhibit C of this Agreement (including any patent applications added to Exhibit C pursuant to Section 7.1);

 

			
	
 
	
(b)
	
U.S. and ex-U.S. patents that issue from or claim priority to any applications in (a), but not including claims in continuation-in-part applications or patents except to the extent provided in (c) below;

 

			
	
 
	
(c)
	
Claims in continuation-in-part applications or patents described in (b) above to the extent that such claims are entitled to priority to patents or patent applications in (a);

 

			
	
 
	
(d)
	
Any reissues or re-examinations of patents described in (a), (b), or (c) above; and

 

			
	
 
	
(e)
	
Any ex-US applications and patents that are equivalent to any of the foregoing.

Excluded from Licensed Patent Rights is all Excluded IP.

 

			
	
 
	
1.18
	
“ Licensed Product ” means any T-cell product specific to CMV, EBV, or WT1 made, used, imported, offered for sale, sold, reproduced, performed, displayed,

 

4

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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distributed, or otherwise utilized by or on behalf of Licensee, or its sublicensees, that comprises, is based on or is made using Licensed Rights, including any EBV Product, CMV Product, WT1 Product and/or Follow-On Product. Excluded from Licensed Product are all Excluded Products.

 

			
	
 
	
1.19
	
“ Licensed Rights ” means the Licensed Patent Rights, the Licensed Tangible Materials and the Licensed Know-How (or any part of any of the foregoing).

 

			
	
 
	
1.20
	
“ Licensed Tangible Materials ” means: the Library; all improvements, additions or modifications thereto made by or on behalf of MSK during the term of this Agreement pursuant to activities conducted in accordance with this Agreement, the Option Agreement or the Manufacturing Services Agreements; and all materials (including those generally described in the Licensed Tangible Materials section of Exhibit A of this Agreement) used in sourcing, preparing, creating, or improving or maintaining the Library [ * ] .

 

			
	
 
	
1.21
	
“ Net Sales ” means the gross price billed or invoiced on sales of Licensed Products by Licensee, its Affiliates, or Sublicensees during the applicable Royalty Term(s), less:

 

			
	
 
	
(a)
	
Freight and shipping expenses (actual), including insurance, to the extent billed to the customer;

 

			
	
 
	
(b)
	
Cash, trade, volume, and prompt payment discounts actually granted and deducted solely on account of sales of Licensed Products;

 

			
	
 
	
(c)
	
Rebates actually paid to individual or group purchasers of Licensed Products that are solely on account of the purchase of such Licensed Products;

 

			
	
 
	
(d)
	
credits, reserves or allowances granted for (i) damaged, outdated, returned, rejected, withdrawn or recalled Licensed Product, (ii) wastage replacement and short-shipments; (iii) billing errors and (iv) indigent patient and similar programs (e.g., price capitation);

 

			
	
 
	
(e)
	
Taxes (including sales, value added, consumption and similar taxes), duties and other governmental charges actually incurred, paid or collected and remitted to the relevant tax or other authority for the sale, export, import, transfer or use of Licensed Products;

 

			
	
 
	
(f)
	
government-mandated rebates and price reductions, and chargebacks, rebates or fees granted to governmental healthcare organizations, purchasing groups, wholesalers, distributors, selling agents (excluding any sales representatives of a selling party), group purchasing organizations, Third Party payors, other contractees and managed care entities;

 

5

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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(g)
	
retroactive price reductions actually granted to the Third Party applicable to sales of the product; and

 

			
	
 
	
(h)
	
[ * ] , with respect to the sale of the Licensed Product, based on [ * ] of the [ * ] during the applicable period.

To the extent that Licensed Product [ * ] , including [ * ] then in calculating Net Sales for the sale of such Licensed Product, [ * ] such Licensed Product [ * ] may be [ * ] .

Sales of Licensed Product(s) between or among Licensee and its Affiliates and Sublicensees shall be excluded from the computation of Net Sales and no payments shall be payable on such sales, except where such Affiliates or Sublicensees are the end users of the Licensed Product sold.

If Licensee or its Affiliate or Sublicensee [ * ] and [ * ] , then [ * ] Licensee shall [ * ] and [ * ] (taking into account [ * ] or [ * ] , with the understanding that [ * ] ). If [ * ] , the Affiliate or Sublicensee [ * ] . Such [ * ] (it being understood that [ * ] for purposes of this Agreement), [ * ] , [ * ] .

 

			
	
 
	
1.22
	
“ Patent Expenses ” means all actual out-of-pocket expenses (such as outside counsel fees and patent filing fees) incurred by MSK in the prosecution, filing, and maintenance hereunder of Licensed Patent Rights (including any oppositions, re-examinations, and other similar proceedings), but excluding for clarity any internal costs of MSK (such as research costs, overhead or internal patent costs).

 

			
	
 
	
1.23
	
“ PRC ” means the PRC committee under the Option Agreement.

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

11

 

 

 

 

 

			
	
 
	
1.24
	
“ Restricted Know-How ” means Licensed Know-How that (a) is important to the making, propagating, improving, maintaining and/or using any Licensed Product and/or the Library, and (b) is not generally applicable and useful (in a substantial manner) for other research or development activities not involving the Library or Licensed Products.

 

			
	
 
	
1.25
	
“ Royalty Term ” means, for a particular Licensed Product, on a Licensed Product-by-Licensed Product basis and country-by-country basis, the period from the Effective Date to the later of: (a) expiration of the last Licensed Patent Rights embracing such Licensed Product; (b) expiration of any market exclusivity period granted by law with respect to such Licensed Product; or (c)  [ * ] from the date of first commercial sale of the Licensed Product in the applicable country.

 

			
	
 
	
1.26
	
“ Royalty Year ” means each twelve (12) month period commencing January 1 and ending December 31 during the term of this Agreement, except that for the first calendar year of this Agreement, the Royalty Year shall be the period of time between the Effective Date and the next following December 31.

 

			
	
 
	
1.27
	
“ Steering Committee ” means the committee of that name formed by the Parties under Section 2.8 of this Agreement.

 

			
	
 
	
1.28
	
“ Sublicensee ” means any person or business entity to which Licensee has granted a sublicense of the Licensed Rights.

 

			
	
 
	
1.29
	
“ Sublicense Income ” means all consideration ( e.g.,  upfront fees, milestone payments, and other similar license fees) received by Licensee from a Sublicensee based on the grant to such Sublicensee of a sublicense under the license rights granted to Licensee under this Agreement, but excluding : (a) royalty payments; (b) payments made at fully-burdened cost to fund prospectively research and development costs and expenses for Licensed Products; (c)  bona fide loans; (d) payments to purchase capital stock of Licensee at fair market value; and (e) transfer price payments for the purchase of Licensed Product supplied by Licensee (or its Affiliate) made at prices in compliance with the rules of applicable tax authorities.

 

			
	
 
	
1.30
	
“ Term ” shall mean the term of this Agreement, which will be the period as defined in Section 17.1.

 

			
	
 
	
1.31
	
“ Territory ” shall mean worldwide.

 

			
	
 
	
1.32
	
“ WT1 Product ” means (a) any WT1-specific T-cells or cell line that are part of the Library, together with (b) such additional WT1-specific T-cells or cell lines that were or may be developed during the term of the Option Agreement or this Agreement in the laboratory of Dr. Richard O’Reilly or otherwise pursuant to plans approved by the PRC or the Steering Committee (but for clarity not including any Excluded Products), [ * ] [ * ]

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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1.33
	
Additional Definitions . Each of the following definitions is set forth in the section of this Agreement indicated below:

 

			
	
 
	
 
	
 

	
Agreement
	
  
	
Preamble

	
Claim
	
  
	
11.1

	
Competitive Program
	
  
	
2.3

	
Costs
	
  
	
11.1

	
Data Services Agreement
	
  
	
2.7(b)

	
Effective Date
	
  
	
Preamble

	
EMA
	
  
	
4.1(a)

	
FMV Fraction
	
  
	
1.21

	
Institution Indemnitee
	
  
	
11.1

	
IP Committee
	
  
	
7.1

	
Licensee
	
  
	
Preamble

	
Manufacturing Services Agreement
	
  
	
9.3

	
MSK
	
  
	
Preamble

	
Option
	
  
	
Recitals

	
Option Agreement
	
  
	
Recitals

	
Party and Parties
	
  
	
Preamble

	
Patent Adversarial Actions
	
  
	
8.2(a)

	
Payment Dispute
	
  
	
17.3

	
PHI
	
  
	
1.9

	
Summary Plan
	
  
	
4.1(c)

ARTICLE 2 – GRANT; KNOW HOW TRANSFER

 

			
	
 
	
2.1
	
License Grant . Subject to the terms of this Agreement, MSK hereby grants to Licensee the exclusive license to use and practice the Licensed Rights in the Territory in the Field of Use and to research, develop, make, use, sell, offer for sale, and import Licensed Products in the Field of Use in the Territory under all the Licensed Rights, together with the right to sublicense as provided in Article 3. Licensee shall not use the Licensed Rights for any other purpose, except no restriction is imposed on Licensee’s use of any portion of Licensed Rights that are in the public domain, or that become part of the public domain without fault of Licensee.

 

			
	
 
	
2.2
	
Limitations . Licensee shall not during the term of this Agreement [ * ] , provided that Licensee may [ * ] or [ * ] , or [ * ] . MSK shall not during the term of this Agreement grant to any third party any option, licenses or other rights to T-cells specific to EBV, CMV, WT1 or Additional Antigens developed at MSK by or in the laboratory of

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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Dr. Richard O’Reilly, or to any other T-cells in the Library, and without the prior written consent of Licensee shall not provide any confidential or proprietary Licensed Tangible Materials or Restricted Know-How to any third party or otherwise encumber the Licensed Tangible Materials or Restricted Know-How, provided that MSK may do so (i)  [ * ] only, [ * ] (without [ * ] except [ * ] ), or as otherwise approved in writing by Licensee, such consent not to be unreasonably withheld, and (ii)  [ * ] that are either [ * ] or are approved by Licensee [ * ] .

 

			
	
 
	
2.3
	
Other T-Cell Products . If MSK becomes aware, at any time during the term of the Agreement [ * ] that are [ * ] (such as [ * ] , but only to the extent [ * ] or [ * ] , or [ * ] ) that are [ * ] and are [ * ] , and that become available for licensing or are appropriate for being supported by a sponsored research program (each, a “ Competitive Program ”), MSK agrees to notify Licensee of the Competitive Program and shall provide reasonably detailed information about the technology. For any such technology that is available for licensing, Licensee then will have an exclusive [ * ] period from such notice and delivery of information during which it will have the right to elect to exercise an exclusive right of first negotiation for an exclusive license to such Competitive Program. If Licensee elects to obtain such license, MSK and Licensee shall negotiate exclusively and in good faith for [ * ] to seek to reach agreement on the terms of such license agreement for such Competitive Program. If at the end of such negotiation period the Parties have not reached agreement, then MSK may negotiate with other parties, and MSK may grant such license to a third party provided that , [ * ] . For any such technology that is available for sponsored funding as an MSK internal research program under a sponsored research agreement, Licensee then will have an exclusive [ * ] period from such notice and delivery of information and of a bona fide firm proposal by MSK for scope of the research and the budget to be supported, during which Licensee will have the exclusive right to enter into a sponsored research agreement to cover funding of such research program and an option to license the results thereof. If Licensee elects to enter into such a sponsored research agreement, MSK and Licensee shall negotiate in good faith for up to 45 days to

 

9

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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seek to reach agreement on the terms of such agreement for such Competitive Program, and if at the end of such negotiation period the Parties have not reached agreement then Licensee’s option to enter into such sponsored research agreement shall terminate.

 

			
	
 
	
2.4
	
Reserved Rights . Notwithstanding anything in this Agreement to the contrary, MSK shall have the right to use the Licensed Rights for (i)  [ * ] , (ii)  [ * ] , provided that [ * ] , or [ * ] , that is [ * ] , (iii)  [ * ] with the prior approval of Licensee, as provided below, and (iv)  [ * ] or [ * ] , and provided that [ * ] agreed to by Licensee as provided below. MSK shall also have the right to (v)  [ * ] as provided below, and (vi)  [ * ] , solely pursuant to [ * ] agreed to by Licensee. For clarity, MSK, and [ * ] , shall not use or practice, and shall not have any right to use or practice, or permit any Third Party to use or practice, any Licensed Rights [ * ] , except as expressly permitted by Licensee in writing in advance [ * ] and in accordance with applicable law and regulations. However, Licensee acknowledges that [ * ] and shall [ * ] that are [ * ] under this Agreement. Licensee further agrees that [ * ] , and will [ * ] , or [ * ] .

 

			
	
 
	
2.5
	
U.S. Government Rights . All rights granted herein are subject to rights of the United States pursuant to 35 U.S.C. § 200 et seq. , and implementing regulations and agreements.

 

			
	
 
	
2.6
	
No Implied Rights; Excluded Patents . MSK reserves all its rights not expressly granted in the Agreement. The licenses granted hereunder shall not be construed to

 

10

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

15

 

 

 

 

 

		
	
 
	
confer any rights upon Licensee by implication, estoppel or otherwise, and it is understood that practice of the full scope of the Licensed Rights may not be possible absent the grant of a license to patents not included in the Licensed Rights. Without limiting the generality of the foregoing, no rights are granted with respect to patents and applications that are part of the Excluded IP.

 

			
	
 
	
2.7
	
Know How and Materials Transfer; Maintenance . (a) Promptly after the Effective Date, and from time to time thereafter (as reasonably requested by Licensee), MSK shall provide to Licensee samples of and disclose all Licensed Tangible Materials and Licensed Know-How to Licensee, including reasonable quantities of all separate cells or cell lines in the Library and all Databases, to the extent such materials or information have not been previously disclosed and transferred by MSK to Licensee pursuant to the Option Agreement, and including new materials added to the Library or additions to the Licensed Tangible Materials. MSK agrees to provide reasonable support and consultation regarding such transfer to support Licensee’s research, development and manufacture of Licensed Products and its maintenance of the Library. Licensee can request a reasonable amount of formal meetings during the term of this Agreement, on a reasonable schedule and format that is mutually agreeable to MSK investigators and Licensee, to provide Licensee with information necessary or useful for it to carry out its obligations and/or exercise its rights under this Agreement and to determine whether to elect to manufacture Licensed Products. In addition MSK agrees that MSK investigators will make themselves reasonably available for additional telephone discussions regarding the Licensed Tangible Materials and Licensed Know-How, including the use, manufacture and maintenance thereof. Further, promptly after the Effective Date, MSK and Licensee shall amend and update Exhibit A to reflect all additions, enhancements, amendments and modifications to the Licensed Tangible Materials and the Licensed Know-How that have occurred since the date of the Option Agreement.

(b) The Parties are contemporaneously entering into (i) a Data Services Agreement to [ * ] , [ * ] and [ * ] to [ * ] as provided therein (“ Data Services Agreement ”), and (ii) the Manufacturing Services Agreement (defined in Section 9.3 below), which provides for, among other things, [ * ] as provided therein.

 

			
	
 
	
2.8
	
Steering Committee . The Parties hereby established the Steering Committee, comprised initially of the members of the PRC under the Option Agreement at the time of Licensee’s exercise of the Option. Each Party may replace its members on the Steering Committee, as appropriate to conduct the activities of the Steering Committee to support the goals of this Agreement, but with the intention that the Steering Committee have continuity with the prior activities and knowledge and experience of the PRC. The Parties agree that the Steering Committee will meet by telephone conference (or in person if the Parties agree) [ * ]

 

11

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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[ * ] , or as otherwise [ * ] . The Steering Committee shall be responsible for: (a) overseeing and managing the [ * ] , and [ * ] and [ * ] ; (b) overseeing and discussing the [ * ] , in each case [ * ] ; (c) discussing and [ * ] , including [ * ] and [ * ] ; (d) reviewing and overseeing [ * ] ; (e) discussing and [ * ] under this Agreement, including [ * ] , and [ * ] ; and (f) any other duties or authority that the Parties agree in writing to add to the Steering Committee’s purview. The Steering Committee also will [ * ] , and [ * ] as specified by the Steering Committee. The Steering Committee will seek in good faith and acting reasonably to reach consensus on all matters before it. For clarity, Licensee (and its Affiliates and Sublicensees, as applicable) retain the sole rights to make all decisions regarding their own research, development and commercialization of Licensed Products (but not to authorize any breach or violation of this Agreement).

 

			
	
 
	
2.9
	
Transfer of INDs; Regulatory Matters; Clinical Activities .

 

			
	
 
	
(a)
	
Transfer of INDs; Regulatory Matters . On or before June 15, 2015, MSK will transfer (or cause the transfer) of MSK [ * ] to Licensee and grant Licensee the right to reference any other INDs held by MSK for Licensed Product as of the Effective Date. Upon the written request of Licensee from time to time after the Effective Date, MSK will also transfer (or cause the transfer) to Licensee of each other IND held by MSK (or foreign equivalents) for any Licensed Product as of the Effective Date in any country. MSK shall execute and deliver all documents and instruments, and take all such actions, as needed to effect each of the transfers described above, including appropriate communications with the FDA and other regulatory authorities, including as requested by Licensee. Further, MSK shall provide to Licensee, at its request, all reasonable regulatory assistance with respect to such transferred INDs (and equivalents) and the regulatory activities of Licensee relating to development of Licensed Products. Upon Licensee’s request, MSK will provide Licensee and/or its designee with copies of all regulatory documentation and correspondence relating to the

 

12

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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Licensed Products and will cooperate with Licensee and its designees, and take all such actions that are reasonably requested to remove PHI from such regulatory documentation and correspondence. Licensee covenants and agrees that if this Agreement is terminated early pursuant to Article 17, Licensee shall transfer back to MSK the INDs (and foreign equivalents) held by MSK that were transferred by MSK to Licensee pursuant to the above provisions of this Section 2.9(a) promptly after the effective date of termination, and Licensee shall have the same obligations of cooperation and assistance as set forth above with respect to the initial transfer from MSK to Licensee.

 

			
	
 
	
(b)
	
Clinical Activities. Licensee will use Commercially Reasonable Efforts to continue, or support the continuation of, the clinical activities of, or on behalf of, MSK or its Affiliate with respect to any Licensed Product that are ongoing as of the Effective Date. The Parties agree that (i) clinical study protocols #95-024 and 11-130 under [ * ] will be conducted by MSK pursuant to the Clinical Trial Agreement(s) entered into by the Parties concurrently with this Agreement, and (ii) that the clinical study protocols listed on Exhibit G will be conducted by MSK pursuant to one or more Investigator Sponsored Trial Agreement(s) entered into by the Parties concurrently with this Agreement. All data and results of all clinical trials on Licensed Products conducted by or on behalf of MSK or its Affiliate at any time prior to or during the Term are included in the Licensed Tangible Materials and Licensed Know-How and are licensed exclusively to Licensee under this Agreement.

ARTICLE 3 – SUBLICENSES

 

			
	
 
	
3.1
	
Licensee and its Affiliates may grant through multiple tiers (and may amend such sublicenses) provided that each such sublicense is consistent with and subject to the terms and conditions of this Agreement. Licensee shall provide MSK with a complete copy of each such sublicense agreement (or amendment) and any associated agreements between it (or its Affiliate) and the Sublicensee, or between an existing Sublicensee and its subsequent Sublicensee, provided that such agreement or amendment may be redacted to remove confidential information that does not relate to Licensed Product or Licensed Rights. Licensee shall also promptly provide MSK with full executed copies of such agreements. All such documents shall be deemed Confidential Information of Licensee.

 

			
	
 
	
3.2
	
Licensee shall remain responsible for performance of all its obligations under this Agreement, notwithstanding the grant of any sublicense. It is agreed that such obligations may be satisfied by the performance by one or more Sublicensees. Any sublicense shall by its terms require that the Sublicensee comply with the provisions of this Agreement that by their terms are required to be performed by a Sublicensee, including the restrictions, limitations, and obligations of Articles 11, 13, and 14 and Sections 6.1 and 7.6, and shall provide that MSK is a third-party

 

13

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18

 

 

 

 

 

		
	
 
	
beneficiary with respect to such Articles and Sections. Any breach by a Sublicensee shall be considered a breach by Licensee, provided that MSK shall not have the right to terminate this Agreement pursuant to Section 17.4 for an uncured breach by Sublicensee if (i) such breach was not made at the direction of, or with the approval of, Licensee, (ii)  [ * ] , and (iii) Licensee promptly terminates the sublicense after the end of the applicable cure period.

 

			
	
 
	
3.3
	
Licensee shall promptly provide MSK with a copy of any notice of breach, termination, or the like sent to or received from a Sublicensee, with respect to the applicable sublicense agreement hereunder.

ARTICLE 4 – DILIGENCE

 

			
	
 
	
4.1    (a)
	
Licensee shall use its Commercially Reasonable Efforts to (i) bring Licensed Products to market, and (ii) thereafter continue active marketing efforts for approved Licensed Products throughout the Term.

Without limiting the foregoing, Licensee shall meet the following milestone activities:

 

			
	
 
	
(i)
	
use Commercially Reasonable Efforts to [ * ] not later than [ * ] if [ * ] ; provided that (x) if [ * ] , then the above target timeframe to meet this diligence requirement shall be extended by [ * ] , and (y) if [ * ] , then this milestone will be deemed to have been achieved;

 

			
	
 
	
(ii)
	
use Commercially Reasonable Efforts to [ * ] within [ * ] ; provided that if [ * ] , then the above target timeframe to meet this diligence requirement shall be extended by [ * ] , but not for more than [ * ] ;

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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(iii)
	
if [ * ] , then Licensee will use Commercially Reasonable Efforts to [ * ] within [ * ] ; provided that if [ * ] , then the above target timeframe to meet this diligence requirement shall be extended by [ * ] , but not for more than [ * ] .

 

			
	
 
	
(b)
	
Licensee shall give MSK written notice and evidence within [ * ] of the achievement of each of the above specific diligence milestones.

 

			
	
 
	
(c)
	
Licensee shall provide to MSK, within [ * ] of the Effective Date, a reasonable summary business plan (the “ Summary Plan ”) for the development of the Licensed Rights, including, for example, [ * ] . Thereafter, Licensee shall provide update reports to MSK [ * ] to relay update and status information on Licensee’s business, research and development progress with respect to development of Licensed Product(s), including projections of activity anticipated [ * ] , generally in accordance with the topic listed in the template provided in Exhibit B of this Agreement.

 

15

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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(d)
	
Licensee shall be solely responsible, at its sole cost and expense, for securing any necessary governmental or regulatory approvals for development, manufacture, and sale of Licensed Products, and shall use Commercially Reasonable Efforts to obtain such approvals. Licensee shall advise MSK, [ * ] , of its program of development for obtaining said approvals.

 

			
	
 
	
4.2
	
If Licensee is the subject of a demand, notice, inquiry, or inspection report by a governmental authority or certification agency in relation to any Licensed Product that (i) by its terms directs or contemplates, or may reasonably be expected to require or relate to, suspension or cessation of manufacturing, sale, development, or marketing of Licensed Products efforts, (ii) concerns a recall or potential recall of Licensed Products, (iii) concerns a loss of life or material issue of safety, or (iv) may reasonably be expected to prevent Licensee’s compliance with its diligence obligations, then Licensee shall provide a copy to MSK without delay and keep MSK reasonably apprised of its response.

ARTICLE 5 – PAYMENTS

 

			
	
 
	
5.1
	
In consideration for the rights, privileges and licenses granted hereunder, Licensee shall pay to MSK, in the manner hereinafter provided:

 

			
	
 
	
(a)
	
License Fee : Licensee shall pay to MSK a license issue fee of Four Million Five Hundred Thousand US Dollars ($4,500,000), due within thirty (30) days after the Effective Date. Such fee shall be nonrefundable and non-creditable against any other obligations hereunder.

 

			
	
 
	
(b)
	
Running royalties : For sales of Licensed Products occurring in each country during the Royalty Term for the applicable country and product, Licensee shall pay to MSK a royalty in an amount equal to [ * ] .

If Licensee obtains a license under patent rights of a third party that Licensee, on the advice of patent counsel, determines, in the absence of a license thereunder, would be considered to be infringed by the development, manufacture, use, sale, offer for sale, or importation of a Licensed Product, then [ * ] , provided that [ * ] .

For clarity, upon expiration of the Royalty Term for a Licensed Product being sold in a country, subsequent sales of such Licensed Product in such country shall be royalty free and shall not contribute to the calculation of

 

16

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

21

 

 

 

 

“Net Sales” for purposes of the above royalty obligation, and thereafter the license granted under Section 2.1 as to such Licensed Product in such country shall be fully paid, perpetual and irrevocable.

 

			
	
 
	
(c)
	
Guaranteed minimum royalties : Licensee shall pay to MSK minimum annual royalties of [ * ] on the [ * ] anniversary of the Effective Date and on each subsequent anniversary until [ * ] ; provided that for as long as Licensee [ * ] , such obligation to pay such minimum annual royalties shall not be applicable. Each such minimum annual royalties payment shall be creditable against earned royalties for the same annual period actually owed by Licensee to MSK under Section 5.1(b) based on sales during such period after such payment.

 

			
	
 
	
(d)
	
Milestones :

Milestone payments as follows:

The following milestone payments shall be due for a Licensed Product for the first indication only. For clarity, one set of milestone payments will be payable for an EBV Product, a second set of milestone payments will be payable for a CMV Product, and a third set of milestones payments will be payable for a WT1 Product:

 

			
	
 
	
(i)
	
[ * ]

 

			
	
 
	
(ii)
	
[ * ]

 

			
	
 
	
(iii)
	
[ * ]

For clarity, each above milestone payment shall be made only once with respect to any EBV Product, once with respect to any CMV Product, and once with respect to any WT1 Product.

 

			
	
 
	
(e)
	
Sublicensing Income :

Licensee shall pay to MSK a portion of Sublicense Income received in consideration of any sublicense granted by Licensee of the license rights

 

17

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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granted under this Agreement, other than sublicenses executed in the ordinary course of business, as follows:

 

			
	
 
	
(i)
	
[ * ] of the Sublicense Income from a sublicense if [ * ] ;

 

			
	
 
	
(ii)
	
[ * ] of the Sublicense Income from a sublicense if [ * ] ; provided, however, that [ * ] .

For clarity, if [ * ] , then [ * ] , and [ * ] , [ * ] .

 

			
	
 
	
5.2
	
Payment Terms : Payments owed under this Agreement shall be payable [ * ] after they are due (except as provided below for royalties), paid in United States dollars in New York, NY, or at such other place as MSK may reasonably designate consistent with the laws and regulations controlling in any foreign country and provided that such designation does not impose additional costs, fees or payment obligations on Licensee. Royalty payments are due [ * ] after the end of the Contract Quarter-Year during which such royalty obligations accrued. If any currency conversion shall be required in connection with the payment of royalties hereunder, such conversion shall be made by using the exchange rate prevailing at the JP Morgan Chase Bank on the last business day of the Contract Quarter-Year reporting period to which such royalty payments relate.

Additionally, in the event of a dispute concerning the determination of royalties or milestones, or whether royalties or milestones are owed, that arises from disagreement over whether a T-cell product sold by or on behalf of Licensee qualifies as a Licensed Product, the Parties shall agree on a reasonable procedure for the provision of necessary technical information in confidence to a qualified representative of MSK to attempt to resolve such dispute.

 

			
	
 
	
5.3
	
Interest : Licensee shall pay to MSK interest on any amounts not paid when due at the rate established by the New York CPLR for prejudgment interest in the case of breach of contract.

 

			
	
 
	
5.4
	
Tax withholding : Payments shall be made in full, without deduction or withholding for wire transfer fees or currency exchange fees. The Parties will cooperate to prevent or minimize the need for any withholding, and at the request of Licensee, MSK will provide Licensee with documents evidencing its tax status in the United

 

18

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

23

 

 

 

 

 

		
	
 
	
States. Any withholding or other tax that is required by law to be withheld with respect to payments owed by Licensee shall be deducted by Licensee from such payment prior to remittance, and paid over to the relevant taxing authorities when due. Licensee shall promptly furnish MSK evidence of any such taxes withheld and of payment thereof, and MSK shall seek to obtain the release of any such withheld amounts from the taxing authority. At MSK’s request, Licensee shall provide MSK with reasonable assistance to release the withheld amount to MSK. If [ * ] , then [ * ] and [ * ] (or [ * ] ).

ARTICLE 6 – REPORTS AND RECORDS

 

			
	
 
	
6.1
	
Licensee shall keep, and shall require its Affiliates and Sublicensees to keep, full, true and accurate books of account containing all particulars that may be necessary for the purpose of showing the amounts payable to MSK hereunder. Said books and records shall include the data and information maintained by the applicable party, which may include: Invoice registers and original invoices, product sales analysis reports, accounting general ledgers, sub-license and distributor agreements, price lists, contracts for the sale of Licensed Products, product catalogs and marketing materials, audited financial statements (as to Licensed Product sales), inventory and production records, and shipping documents. Said books and records shall be maintained for a period of no less than four (4) years following the period to which they pertain. Such records shall include original data files used to prepare the submitted royalty reports. For the term of this Agreement, and at least annually, MSK or its agents shall have the right upon reasonable written notice to inspect such books and records for the purpose of verifying Licensee’s royalty statement or other payments under this Agreement. Such inspections shall be during normal working hours of Licensee, on reasonable prior notice and shall not occur more than once for any particular royalty period, or more than once per year. Should such inspection lead to the discovery of a discrepancy in MSK’s favor of greater than [ * ] of the total payments made during the audited period, or [ * ] , in reporting to MSK’s detriment, for [ * ] , Licensee shall pay the reasonable cost of such audit, plus interest on the discrepancy as provided for late payments.

 

			
	
 
	
6.2
	
Commercialization Reports :

Commencing upon first commercial sale of a Licensed Product, Licensee, within [ * ] of the end of each Contract Quarter-Year thereafter, shall deliver to MSK a summary report (which shall be, to Licensee’s knowledge at the time, true and accurate), giving the following particulars of the Licensed Product business

 

19

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

24

 

 

 

 

conducted by Licensee and its Sublicensees during such Contract Quarter-Year, to be itemized per Licensed Product by country of sales origin:

 

			
	
 
	
(a)
	
Product number

 

			
	
 
	
(b)
	
Units sold

 

			
	
 
	
(c)
	
Net Sales based on units sold

 

			
	
 
	
(d)
	
Royalty rate applicable

 

			
	
 
	
(e)
	
Royalty dollars due

 

			
	
 
	
(f)
	
country of sale;

 

			
	
 
	
(g)
	
foreign currency conversion rate; and

 

			
	
 
	
(h)
	
any Sublicense Income received in the prior quarter.

Licensee shall also provide copies of royalty reports received from its Sublicensees for the corresponding period, to the extent such reports relate to sales of Licensed Products by the Sublicensee. All such information shall be maintained in confidence by MSK.

 

			
	
 
	
6.3
	
With each such report submitted under Section 6.2, Licensee shall pay to MSK the royalties due and payable under this Agreement for such Contract Quarter-Year. If no royalties shall be due, Licensee shall so report.

 

			
	
 
	
6.4
	
Milestone payments shall be reported and paid when due.

ARTICLE 7 – PATENT PROSECUTION; THE LICENSED PATENTS

 

			
	
 
	
7.1
	
Promptly after the Effective Date, MSK and Licensee shall form an “ IP Committee ,” [ * ] , each having reasonable experience and expertise in managing intellectual property matters (which may be the representatives in the “ IP Committee ” formed under the Option Agreement). The IP Committee shall be responsible for discussing and establishing the patent prosecution strategy for the Licensed Patent Rights including any additional patent applications covering any potentially patentable inventions within the Licensed Tangible Materials and/or Licensed Know-How, and for reviewing and managing the prosecution of any Licensed Patent Rights including such additional patent applications that are determined by the IP Committee to be filed covering any such inventions. Promptly after the Effective Date, Licensee shall add to Exhibit C of this Agreement all Licensed Patent Rights existing as of the Effective Date hereof, and each additional Licensed Patent Right filed by MSK hereunder (including filed as continuing applications based on the further prosecution of such Licensed Patent Rights) shall be listed by the Parties on Exhibit C of this Agreement, and the Parties shall update such Exhibit C list to reflect all additional Licensed Patent Rights filed or issued, and updates in the prosecution thereof.

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

25

 

 

 

 

 

			
	
 
	
7.2
	
MSK shall undertake, at Licensee’s expense (as provided below) and using Commercially Reasonable Efforts, and as directed by the IP Committee, to prosecute and maintain the Licensed Patent Rights owned solely by MSK in the United States and in such countries as are determined by MSK upon consultation with Licensee, using counsel of MSK’s choice reasonably acceptable to Licensee. Licensee shall reimburse MSK for the actual Patent Expenses incurred in such prosecution and maintenance of the Licensed Patent Rights, pursuant to invoices showing the actual Patent Expenses incurred which shall include copies of the documentation demonstrating the out-of-pocket expenses. If Licensee advises that it does not wish to pursue or maintain a patent or application, MSK may continue to prosecute and maintain it at its own expense, and such patent or application shall be excluded from the license granted hereunder if MSK does so.

 

			
	
 
	
7.3
	
MSK shall keep Licensee reasonably informed of the progress of its prosecution efforts, by providing Licensee with copies of all material patent prosecution documentation so that Licensee may be informed and advise MSK on the continuing prosecution, and MSK agrees to consider in good faith all such reasonable comments. Licensee shall keep this documentation confidential.

 

			
	
 
	
7.4
	
Licensee shall, at Licensee’s expense and using Commercially Reasonable Efforts, and as directed by the IP Committee, to prosecute and maintain the Licensed Patent Rights owned jointly by Licensee and MSK, in the United States and in such countries as are determined by Licensee upon consultation with the IP Committee, using counsel of Licensee’s choice. If Licensee advises that it does not wish to pursue or maintain a patent or application in such joint Licensed Patent Rights, MSK may continue to prosecute and maintain it at its own expense, and such patent or application shall be excluded from the license granted hereunder if MSK does so, provided that Licensee will retain its ownership interests therein. Licensee shall control, at its sole discretion, prosecution of any patents covering inventions owned solely by Licensee.

 

			
	
 
	
7.5
	
The Parties agree that they share a common legal interest in obtaining valid, enforceable patents and that Licensee, and MSK will maintain confidential all information received pursuant to this Article 7.

 

			
	
 
	
7.6
	
Licensee shall not challenge the validity or enforceability of any claim within the Licensed Patents Rights and shall cause its Affiliates to refrain from doing so. In addition to all other rights and remedies available to MSK for any breach of this provision by Licensee or its Affiliates, in the event that any such challenge is not successful then Licensee shall reimburse MSK for all costs and expenses, including but limited to attorneys fees, incurred by MSK as a result of defending against such challenge.

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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ARTICLE 8 – INFRINGEMENT

 

			
	
 
	
8.1
	
Monitoring . Licensee shall use commercially reasonable efforts to monitor third party infringement of the Licensed Patent Rights in the Field of Use. Licensee shall keep MSK timely informed of any activities by Licensee in regard hereto.

 

			
	
 
	
8.2
	
Actions . This Section sets forth each of the Party’s right of enforcement and defense in relation to the Licensed Patent Rights.

 

			
	
 
	
(a)
	
First Right . Licensee shall have the first right, but not the obligation, for the initiation, defense, and management of any adversarial legal proceeding relating to the Licensed Patent Rights in the Field of Use and Territory, including without limitation any declaratory judgment action, patent infringement action or opposition (collectively, “ Patent Adversarial Actions ”) during the Term, and will be responsible for all expenses related thereto. MSK shall provide Licensee with all reasonable assistance and cooperation in conducting and/or defending against any such Patent Adversarial Action, including joining in any such Patent Adversarial Action, at Licensee’s request and expense, provided that in any case Licensee shall at all times have the full control of conducting and/or defending such Patent Adversarial Action. For clarity, Licensee may delegate the foregoing rights to its Sublicensee, in the territory where such Sublicensee has sublicense rights hereunder.

 

			
	
 
	
(b)
	
Secondary Right . If Licensee determines, as to any particular third party activity that constitutes a material infringement of the Licensed Patent Rights or a declaratory judgment action involving the Licensed Patent Rights, that Licensee shall not exercise its rights to conduct a Patent Adversarial Action as to such activity, then Licensee shall provide MSK with written notice that Licensee declines such right as to such activity, and after receiving such notice, MSK shall have the secondary right to undertake such infringement action or defend against such challenge, provided that MSK shall keep Licensee fully informed of all its activities with respect thereto and shall not take any action, or omit to take any action or position, that causes or likely will cause a material adverse impact on Licensee or its Sublicensee or on the Licensed Patent Rights.

 

			
	
 
	
8.3
	
Cooperation; Settlement . To the extent that a Party conducts any legal proceedings in relation to the enforcement or defense of Licensed Patent Rights in the Field of Use and Territory as contemplated above, it shall keep the other Party reasonably informed of such proceedings. At such Party’s request, the other Party shall reasonably cooperate, at the expense of the requesting Party, in such proceedings. In any action conducted by MSK, Licensee will join as may be requested by MSK, and in any action conducted by Licensee, Licensee may affect joinder of MSK if MSK is an indispensible or necessary party under the applicable law. Notwithstanding anything in this Agreement to the contrary, no settlement, consent

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

27

 

 

 

 

 

		
	
 
	
judgment, or other voluntary final disposition of any action by Licensee that admits the invalidity or unenforceability of the Licensed Patent Rights may be entered into without the prior written consent of MSK.

 

			
	
 
	
8.4
	
Costs and Recoveries . All costs of any action by a Party to enforce, or to defend against a challenge to, the Licensed Patent Rights shall be borne by such Party, and such Party shall keep any sums recovered or obtained in connection therewith (whether as damages, reasonable royalties, license fees, or otherwise in judgment or settlement derived therefrom), except that in the case of actions commenced by Licensee, the excess of such sums over all such costs and expenses shall be treated as Net Sales subject to MSK’s rights under this Agreement to collect royalties thereon. For the avoidance of doubt, Licensee may not deduct, from Net Sales any portion of Licensee’s costs or expenses related to any investigation, enforcement, defense, judgment or settlement of any such actions, provided that if Licensee is the enforcing Party, it may deduct from Net Sales the costs and expenses of MSK, incurred in connection with MSK providing cooperation in such enforcement, that are reimbursed or paid by Licensee pursuant to Section 8.3.

 

			
	
 
	
8.5
	
Third Party Patents . In the event Licensee is sued for patent infringement or, threatened with such suit, it shall promptly notify MSK. In any such action, Licensee shall be fully responsible for all its costs, including expenses, judgments and settlements (but subject to Section 5.1(b)).

ARTICLE 9 – MANUFACTURE AND SUPPLY

 

			
	
 
	
9.1
	
[ Intentionally omitted ] .

 

			
	
 
	
9.2
	
Manufacturing Transfer . Commencing on [ * ] , MSK will conduct and complete a full manufacturing transfer to Licensee (and/or its designated contract manufacturing organization(s)) of all existing MSK technology and manufacturing know-how and methods and materials relating to Licensed Product manufacturing, such technology transfer to be conducted on a reasonable, diligent time frame so as to enable completion of the transfer promptly and on a timely basis (taking into account Licensee’s product development schedule and needs). In connection therewith, MSK agrees to make reasonably available its personnel to assist Licensee with transfer of manufacturing operations to a new facility, including assistance with understanding all the transferred technology and manufacturing information, at no FTE expense to the Licensee. For clarity, the assistance to be provided by MSK does not include transferring equipment, but does include full transfer of all manufacturing SOPs and the identity of the and source of the equipment used in MSK’s manufacturing of Licensed Products.

 

			
	
 
	
9.3
	
Licensed Product Supply . The terms of the Parties’ agreement governing MSK’s manufacture and supply of Licensed Products to Licensee of its (and its Affiliates’ and Sublicensees’) requirements for Licensed Products for use in clinical trials during development, are set forth in the Manufacturing Services Agreement entered into by the Parties concurrent with this Agreement (“ Manufacturing Services Agreement ”).

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

28

 

 

 

 

 

			
	
 
	
9.4
	
Library . The terms of the Parties’ agreement governing the maintenance, improvement and augmentation of the Library and Databases, and the transfer of the Library and Databases to Licensee and its designee(s), are set forth in the Manufacturing Services Agreement.

ARTICLE 10 – CONFIDENTIALITY

Each Party agrees that Confidential Information of the other Party disclosed to it or to its employees under this Agreement shall for [ * ] after the end of the Term:

 

			
	
 
	
(a)
	
be used only in connection with the legitimate purposes of, including exercise by such Party of its rights under, this Agreement;

 

			
	
 
	
(b)
	
be disclosed only to those who have a need to know it in connection with the Agreement; and

 

			
	
 
	
(c)
	
be safeguarded with the same care normally afforded confidential information in the possession, custody or control of the party holding the Confidential Information but no less than reasonable;

 

			
	
 
	
(d)
	
not be disclosed, divulged or otherwise communicated except with the express written consent of the disclosing Party, or as otherwise expressly permitted in this Agreement.

The foregoing shall not apply with respect to particular Confidential Information that:

 

			
	
 
	
(i)
	
can be demonstrated to have been in the public domain prior to the date of the disclosure; or

 

			
	
 
	
(ii)
	
enters the public domain through no fault of the receiving Party; or

 

			
	
 
	
(iii)
	
was already known to the receiving Party at the time of disclosure as evidenced by written records in the possession of the receiving Party prior to such time; or

 

			
	
 
	
(iv)
	
is subsequently received by the receiving Party from a third party without breaching any confidential obligation between the third party and the disclosing Party; or

 

			
	
 
	
(v)
	
was independently developed, as established by tangible evidence, by the receiving Party without reference to the Confidential Information of the disclosing Party.

Notwithstanding the foregoing, a receiving Party may disclose particular Confidential Information of the disclosing Party to the extent such information is required to be

 

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[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

29

 

 

 

 

disclosed in order to comply with court orders, statutes or regulations, provided that prior to any such disclosure, to the extent reasonably practicable, the Party from whom disclosure is sought shall promptly notify the other Party and shall afford such other party the opportunity to challenge or otherwise lawfully seek limits upon such disclosure of Confidential Information, and that the disclosing Party only discloses such Confidential Information as is legally required to be disclosed, taking into account any protective or other order limiting or quashing the disclosure obligation.

Further, notwithstanding the foregoing, Licensee (or its Affiliate or Sublicensee) may disclose Confidential Information of MSK: (a) as reasonably needed to prosecute or enforce Licensed Patent Rights; (b) to regulatory authorities as reasonably needed to develop and/or obtain or maintain regulatory approvals of Licensed Products; (c) in confidence to its Affiliates and Sublicensees as reasonably needed to research, develop and/or commercialize Licensed Products; (d) in confidence to prospective sublicensee, strategic partners, merger partners or acquirers, and their respective professional advisors, in connection with evaluation and/or negotiation of possible sublicense, corporate partnering, merger, asset purchase or other similar transactions; (e) as required in order to comply with applicable law or regulations, including securities laws and securities exchange requirements; (f) in confidence to its existing investors and professional advisors and to potential investors and their professional advisors; and (g) as reasonably needed to conduct or defend any litigation relating to this Agreement, the Licensed Products or Licensee’s rights hereunder.

ARTICLE 11 – INDEMNIFICATION, PRODUCT LIABILITY

 

			
	
 
	
11.1
	
Licensee shall indemnify, defend and hold harmless MSK and its trustees, directors, officers, medical and professional staff, employees, students, and agents and their respective successors, heirs, and assigns (each an “ Institution Indemnitee ”), against all costs, liabilities and expenses (including legal expenses and reasonable attorney’s fees) (“ Costs ”) resulting directly from a third party claim, proceeding, or demand against an Institution Indemnitee (a “ Claim ”) to the extent arising directly out of: (a) the death of or injury to any person or persons, or any damage to property, resulting from the development or commercialization of a Licensed Product by Licensee or its Affiliate or Sublicensee under this Agreement; (b) production, manufacture, sale, use, lease, consumption, or advertisement of Licensed Products hereunder by Licensee or its Affiliate or Sublicensee, or (c) the breach by Licensee of any of its representations, warranties or obligations under this Agreement or any Ancillary Agreement, provided however, that Licensee will not be obligated to indemnify, defend and hold harmless any Institution Indemnitee against any Cost or Claim to the extent it arises out of, results from, or is increased by (w) MSK’s or an Institution Indemnitee’s breach of its representations or warranties under this Agreement or the Manufacturing Services Agreement, (x) MSK’s or an Institution Indemnitee’s willful misconduct or gross negligence, or (y) MSK’s supplying to Licensee a Licensed Product manufactured by (or on behalf of) MSK that does not conform to the specifications therefor or to FDA manufacturing requirements or guidance, or has otherwise not been manufactured

 

25

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30

 

 

 

 

 

		
	
 
	
in accordance with the requirements of the Manufacturing Services Agreement), or (z) any clinical trials conducted by, or other use of any Licensed Product by, MSK or its Affiliate at any time, other than under authority of Licensee.

 

			
	
 
	
11.2
	
The Institution Indemnitee will promptly give notice to Licensee of any covered Claims for which it seeks indemnification hereunder, and Licensee will have the right to defend the same, including selection of counsel reasonably acceptable to MSK, and to control of all the proceedings; provided that Licensee will not, without the written consent of the Institution Indemnitee, settle such Claim or consent to the entry of any judgment to the extent that such settlement or judgment: (i) does not release the Institution Indemnitee from all liability with respect to such third party Claim, or (ii) likely will materially adversely affect the Institution Indemnitee or under which the Institution Indemnitee would incur any material obligation or liability. MSK and each applicable Institution Indemnitee agrees to cooperate and provide all reasonable assistance to the defense of any such Claim, at Licensee’s expense. MSK at all times reserves the right to select and retain counsel of its own at its own expense to defend MSK’s interests, provided that MSK shall be responsible for any Costs incurred or resulting from any actions of such counsel that are contrary to Licensee’s control or conduct of the defense.

 

			
	
 
	
11.3
	
Licensee shall obtain and carry in full force and effect general liability insurance in amounts reasonably consistent with industry standards in regard to potential liability, conduct, and events covered by Section 11.1 above. Such insurance shall be written by a reputable insurance company, and shall be endorsed to include liability coverage. The limits of such insurance shall not be less than [ * ] per occurrence with an annual aggregate of [ * ] . Licensee shall provide MSK with Certificates of Insurance evidencing the same and provide MSK with prior written notice of any material change in or cancellation of such insurance.

ARTICLE 12 – REPRESENTATIONS, WARRANTIES AND DISCLAIMERS

 

			
	
 
	
12.1
	
Representations and Warranties of Licensee.

 

			
	
 
	
(a)
	
Licensee hereby represents and warrants to MSK that as of the Effective Date, to its knowledge, the execution and performance of Licensee’s obligations under this Agreement does not conflict with, cause a default under, or violate any existing contractual obligation that may be owed by Licensee to any third party.

 

			
	
 
	
(b)
	
Licensee hereby represents and warrants to MSK that it is a corporation duly organized, validly existing and in good standing and has all requisite corporate power and authority to execute and deliver this Agreement.

 

26

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31

 

 

 

 

 

			
	
 
	
12.2
	
Representations and Warranties of MSK .

 

			
	
 
	
(a)
	
MSK hereby represents and warrants to Licensee that, as of the Effective Date, to the best of MSK’s knowledge, the execution and performance of MSK’s obligations under this Agreement do not conflict with, cause a default under, or violate any existing contractual obligation that may be owed by MSK to any third party.

 

			
	
 
	
(b)
	
MSK hereby represents and warrants to Licensee that it is a corporation duly organized, validly existing and in good standing and has all requisite corporate power and authority to execute and deliver this Agreement, and that it has the lawful right to grant the license and other rights granted to Licensee in the License Agreement.

 

			
	
 
	
(c)
	
MSK hereby represents and warrants to Licensee that: (i)  [ * ] ; (ii)  [ * ] , including [ * ] ; (iii)  [ * ] and [ * ] in this Agreement, subject to [ * ] .

 

			
	
 
	
(d)
	
MSK hereby represents and warrants to Licensee that all clinical trials of Licensed Products containing or based on cells in the Library and conducted by or on behalf of MSK have been conducted pursuant to standard forms of informed consent.

 

			
	
 
	
(e)
	
MSK hereby represents and warrants to Licensee that its manufacturing of all cells and cell lines used in clinical trials (through the Effective Date) has been, and will continue to be under this Agreement (to the extent such cells or cell lines are supplied to Licensee, or to itself or third parties on Licensee’s behalf hereunder), in accordance with governing protocols, methods and procedures as required by the FDA for MSK’s manufacturing of Licensed Product for use in clinical trials.

 

			
	
 
	
(f)
	
MSK hereby represents and warrants to Licensee that, as of the Effective Date, (i)  [ * ] , (ii)  [ * ] ; (iii)  [ * ] ; (iv)  [ * ] [ * ] ; (v)  [ * ] ; (vi)  [ * ] ; and (vii)  [ * ] .

 

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32

 

 

 

 

 

			
	
 
	
12.3
	
Disclaimer of Warranties .

OTHER THAN THE WARRANTIES SET FORTH IN SECTION 12.2, MSK MAKES NO OTHER REPRESENTATIONS AND EXTENDS NO OTHER WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF PATENT RIGHTS, ISSUED OR PENDING, OR THAT THE LICENSED PRODUCTS OR RIGHTS GRANTED DO NOT INFRINGE THE PATENT RIGHTS OF OTHERS. ANY AND ALL SUCH OTHER WARRANTIES ARE HEREBY DISCLAIMED.

 

			
	
 
	
12.4
	
Limitation of Damages .

IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO LOST PROFITS, FROM ITS PERFORMANCE OR NONPERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT.

ARTICLE 13 – COMPLIANCE WITH LAW

 

			
	
 
	
13.1
	
It is understood that MSK is subject to United States laws and regulations controlling the export of technical data, computer software, laboratory prototypes and other commodities (including the Arms Export Control Act, as amended and the Export Administration Act of 1979), and that its obligations hereunder are contingent on compliance with applicable United States export laws and

 

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33

 

 

 

 

 

		
	
 
	
regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government and/or written assurances by Licensee that Licensee shall not export data or commodities to certain foreign countries without prior approval of such agency. MSK neither represents that a license shall not be required nor that, if required, it shall be issued.

 

			
	
 
	
13.2
	
Licensee shall in all respects conduct its activities under this Agreement, and shall cause its Affiliates, and shall use reasonable efforts to cause its Sublicensees, to conduct their activities under this Agreement, in full compliance with all applicable laws and regulations. Without limiting the generality of the foregoing, Licensee shall use Commercially Reasonable Efforts to cause Licensed Products be manufactured in all material respects in accordance with applicable federal, state and local laws, rules and regulations, including, without limitation, in all material respects in accordance with all applicable rules and regulations of the FDA.

 

			
	
 
	
13.3
	
Licensee shall to the extent required by law substantially manufacture in the United States any Licensed Product to be sold in the United States, except if an exception to such requirement is obtained.

 

			
	
 
	
13.4
	
To the extent required by law, or if the failure to mark would reduce the rights of MSK or Licensee to enforce the Licensed Patent Rights against infringers, Licensee shall mark, and shall cause its Affiliates and Sublicensees to mark, any Licensed Products (or the packaging thereof) with the appropriate Licensed Patent Rights.

ARTICLE 14 – NON-USE OF MSK’S NAME

Licensee shall not use the names of MKSCC, including Memorial Sloan Kettering Cancer Center, Sloan Kettering Institute for Cancer Research, and Memorial Hospital for Cancer and Allied Diseases, nor any of their employees, nor any adaptation thereof, in any public announcements, publicity or advertising without prior written consent obtained from MSK in each case, except as otherwise expressly permitted in this Agreement. MSK agrees that Licensee may issue a press release regarding this Agreement in the form attached as Exhibit E . In acknowledgement that Licensee may need to use the name of MSK or the MSK investigators in furtherance of the Licensee’s efforts to obtain financing, in connection with strategic or licensing discussions, and in other legitimate business matters of the Licensee, MSK agrees that Licensee may disclose in confidence to such parties (and their professional advisors) the terms of this Agreement, and for any additional disclosures regarding MSK or MSK investigators that Licensee requests to make so such parties, MSK shall use good faith efforts to secure prior written consent for such use in a timely manner in line with its business practices following receipt of a written request for such use by Licensee. For clarity, Licensee may request MSK pre-approve documents which make use the name of MSK for use in non-public and/or confidential venues in furtherance of the Licensee’s efforts to obtain financing, negotiate licenses, and secure personnel: upon receipt of such written pre-approval, Licensee may use the name of MSK in such non-public and/or confidential venues without prior written consent in each case to the extent such use does not deviate significantly from the pre-approved documents. Notwithstanding the foregoing, Licensee may disclose in confidence that Licensee has the Agreement and license rights granted hereunder

 

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34

 

 

 

 

from MSK, and the general terms of the Agreement. Further, Licensee shall be free to continue to publish or disclose specific information about MSK or this Agreement that MSK has previously consented, pursuant to the above, may be publicly disclosed by Licensee, but only in the form, manner, and extent of MSK’s prior approval. Further, MSK agrees that Licensee may disclose in SEC and other similar regulatory filings the existence and general terms of this Agreement and the names of the parties to the Agreement, and material developments under this Agreement to the extent such disclosures must be made to comply with applicable laws, regulations and/or securities exchange rules.

ARTICLE 15 – PUBLICATION

Licensee recognizes and accepts that under MSK’s mission as an academic medical center, MSK and its investigators must have a meaningful right to publish without Licensee’s prior approval or editorial control, but subject to reasonable prior review and comment. Subject to the following, MSK reserves the right to publish the scientific findings from research and clinical trials (to the extent permitted by Licensee as provided below) related to Licensed Rights and Licensed Products. Prior to making any proposed publication (e.g., manuscript, abstract or other public disclosure), of data and results relating to the Licensed Tangible Materials and/or Licensed Know-How and/or Licensed Products, and/or that contains Confidential Information of Licensee or its Affiliates, MSK will submit the abstract or manuscript to Licensee and to the IP Committee at least [ * ] before public submission or disclosure thereof. The IP Committee shall immediately review such proposed publication or submission to determine if there are any impacts on potentially patentable inventions and shall inform the Parties of its determinations. Licensee shall have the right to review and comment upon the proposed public disclosure in order to protect such Confidential Information and the patentability of any inventions disclosed therein, and may request that certain results, data or information not be disclosed if such disclosure likely would negatively impact the development or commercialization of any Licensed Product, and MSK will reasonably consider all such requests. Further, upon Licensee’s request, public disclosure shall be delayed [ * ] to enable MSK to secure adequate intellectual property protection of any patentable or trade secret subject matter contained therein that would otherwise be negatively affected by the publication. For clarity, publication of clinical data from permitted clinical trials by MSK on Licensed Products shall be pursuant to the terms of the applicable clinical trial agreement, investigator sponsored trial agreement or other agreement with Licensee.

ARTICLE 16 – ASSIGNMENT

A Party may not assign or delegate its rights or obligations under this Agreement or any Ancillary Agreement, or transfer or assign this Agreement or any Ancillary Agreement, without the prior written consent of the other Party, such consent not to be unreasonably withheld, except that (a) Licensee shall have the right to assign any of its rights, delegate any of its obligations, or transfer this Agreement or any Ancillary Agreement without such consent (i) to its Affiliate or (ii) as part of a merger or acquisition, and (b) MSK may without consent of Licensee freely assign all or any portion of the payments due under this Agreement to a Third Party, provided that [ * ] and [ * ]

 

30

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35

 

 

 

 

[ * ] . Any assignment by Licensee shall bind its assignee to all provisions of this Agreement (or the applicable Ancillary Agreement, as the case may be), including without limitation those concerning dispute resolution (choice of law, choice of forum, and consent to jurisdiction in New York). Any assignment, delegation or transfer by any party without the consent of the other party shall be void and of no effect. For clarity, nothing in the foregoing shall limit Licensee’s (or its Affiliate’s or Sublicensee’s) ability to grant sublicenses or to engage contractors to perform obligations on behalf of any such party.

ARTICLE 17 – TERMINATION

 

			
	
 
	
17.1
	
Term . The term of this Agreement (the “ Term ”) commences on the Effective Date and continues until expiration upon the end of all Royalty Terms, or until the earlier termination of the Agreement pursuant to the below termination provisions. Upon expiration of the Agreement at the end of all Royalty Terms and payment of all amounts owed hereunder, the license rights granted to Licensee under Section 2.1 shall survive as non-exclusive, royalty-free, fully-paid, perpetual, irrevocable licenses.

 

			
	
 
	
17.2
	
Bankruptcy or Cessation/Enjoinder of Business . MSK may terminate this Agreement upon written notice to Licensee if: (a) a petition in bankruptcy is filed against Licensee and is consented to or acquiesced in by Licensee, or remains undismissed for [ * ] ; (b) Licensee makes a general assignment for the benefit of creditors, or a receiver is appointed for Licensee over all or substantially all of Licensee assets, and Licensee does not return to solvency before the expiration of a [ * ] period; or (c) Licensee ceases to do business.

 

			
	
 
	
17.3
	
Nonpayment . If Licensee fails to pay MSK fees, royalties, ongoing patent expenses or other amounts payable hereunder, and such payments remain past due for more than [ * ] , MSK shall have the right to give Licensee written notice of such past due amount and may terminate this Agreement on a subsequent written notice, unless Licensee pays to MSK within [ * ] after giving such notice all such past due fees, royalties and patent expenses, except that MSK shall not terminate during the pendency of the following dispute resolution procedures if initiated by Licensee: Licensee shall [ * ] provide MSK with a written notice of the basis of such dispute and the factual basis for its disputing the payment obligation (such dispute, a “ Payment Dispute ”). The Parties shall promptly engage in nonbinding evaluative mediation in an attempt to resolve the dispute. If the mediation fails to resolve the dispute, the Parties shall request the mediator to provide his written evaluation of the merits of the dispute and either Party then may commence litigation to resolve the dispute, and MSK agrees that [ * ] and [ * ] . So long as [ * ] , MSK shall have no right to terminate the Agreement [ * ] . If [ * ] , under the terms of

 

31

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36

 

 

 

 

 

		
	
 
	
the Agreement, [ * ] , then [ * ] . For clarity, MSK’s right to terminate for breach for nonpayment [ * ] during the dispute resolution process. For further clarity, and notwithstanding anything in the above, it is agreed by the Parties that Licensee may [ * ] , or [ * ] , and [ * ] .

 

			
	
 
	
17.4
	
Material Breach . In addition to any other applicable termination right specified in this Agreement, but subject to Sections 17.5, 17.8, and 17.9, if Licensee materially breaches this Agreement, then MSK may give licensee written notice specifying in reasonable detail the breach and its intention to terminate this Agreement if such breach is not timely cured. In the case of such material breach and such notice is given, if Licensee does not cure such breach prior to the expiration of the [ * ] period after receipt of such notice, then MSK may terminate the Agreement on written notice, provided that (a) If such breach is not curable, then MSK may terminate the Agreement immediately on written notice, and (b) if such breach is not curable within such [ * ] cure period, but is likely curable, using diligent efforts, within [ * ] after such notice, then MSK may not terminate the Agreement so long as Licensee is using diligent efforts to cure such breach, and cures the breach prior to the end of such [ * ] period.

 

			
	
 
	
17.5
	
Effect on Sublicensees . All sublicenses, and rights of Affiliates and Sublicensees, will terminate as of the effective date of termination of this Agreement, provided, however, that if at the effective date of termination any Sublicensee is in good standing with regard to its obligations under its sublicense and agrees to assume the applicable obligations of Licensee hereunder (provided that such obligations shall not include economic obligations under Article 5, which shall be replaced by the economic obligations under the sublicense agreement), then, at the request of the Sublicensee, such sublicense shall survive such termination or expiration of this Agreement and be assigned to MSK, and MSK shall accept such assignment; except that , in such case the obligations of MSK to Sublicensee shall not exceed the obligations of MSK to Licensee under this Agreement.

 

			
	
 
	
17.6
	
Termination by Licensee . Licensee has the right to terminate this Agreement on written notice to MSK, in the event that [ * ] . In the event of such termination by Licensee under this Section 17.6, it shall at MSK’s request (i) reassign to MSK at no cost all INDs that were assigned by MSK to Licensee under this Agreement or the Option Agreement, and (ii) negotiate reasonably and in good faith for the assignment to MSK or its designee Licensee’s regulatory applications, filings, dossiers, and the like for Licensed Products, including the business terms for such assignment.

 

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37

 

 

 

 

 

			
	
 
	
17.7
	
Discontinuation of use of Licensed Rights in the Event of Termination . If this Agreement is terminated under Section 17.4 for uncured material breach by Licensee, all rights of Licensee and its Affiliates to use the Licensed Rights or to sell Licensed Products shall terminate; and Licensee and its Affiliates shall make no further use of the Licensed Rights ( except that the foregoing shall not apply to any Licensed Rights that are, or thereafter become, in the public domain, other than through the fault of Licensee, its Affiliates, or Sublicensees). If this Agreement is terminated at Licensee’s election pursuant to Section 17.6, all rights of Licensee, its Affiliates, and Sublicensees to use the Licensed Rights or to sell Licensed Products shall terminate; and Licensee, its Affiliates, and Sublicensees shall make no further use of the Licensed Rights ( except that the foregoing shall not apply to any Licensed Rights that are, or thereafter become, in the public domain, other than through the fault of Licensee, its Affiliates, or Sublicensees).

 

			
	
 
	
17.8
	
Survival . Upon any expiration or termination of this Agreement, the following shall survive:

 

			
	
 
	
(a)
	
any provision expressly indicated to survive;

 

			
	
 
	
(b)
	
any liability which any Party has already incurred to another Party prior to expiration or termination;

 

			
	
 
	
(c)
	
Licensee’s reporting and payment obligations for activities occurring prior to expiration or termination, and MSK’s audit rights;

 

			
	
 
	
(d)
	
in the case of termination by Licensee under Section 17.6, Sections 5.1(b), 5.1(d), and 5.1(e), until all activities by Licensee, its Affiliates, and Sublicensees that would otherwise create an obligation of payment by Licensee under those sections are discontinued, and

 

			
	
 
	
(e)
	
Articles 10, 11, 18, and 19, and Sections 7.5 and 12.4.

 

			
	
 
	
17.9
	
MSK’s remedies for breach by Licensee of the last sentence of Section 2.1 shall not include any right to terminate this Agreement, but shall otherwise include all remedies and relief as may be available under governing law, including to the extent applicable an award of damages, an injunction against continued breach, equitable relief, and such other remedies as may be available.

 

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ARTICLE 18 – NOTICES AND OTHER COMMUNICATIONS

Except for payments, each notice or other communication pursuant to this Agreement shall be sufficiently made or given when delivered by courier or other means providing proof of delivery to such party at its address below or as it shall designate by written notice given to the other party:

 

			
	
 
	
 
	
 

	
 
	
 

	
In the case of MSK:
	
  
	
Memorial Sloan Kettering Cancer Center

Office of Technology Development

	
 
	
 

	
If by mail:
	
  
	
1275 York Ave., Box 524

New York, NY 10065

	
 
	
 

	
If by courier:
	
  
	
600 Third Avenue, 16th floor

New York, NY 10016

Attn: Vice President, Technology Development

Tel: 1-212-639-6181 (not for notice)

Fax: 1-212-888-1120 (not for notice)

	
 
	
 

	
With copies to:
	
  
	
Memorial Sloan Kettering Cancer Center

Office of General Counsel

	
 
	
 

	
If by mail:
	
  
	
1275 York Ave.

New York, NY 10065

	
 
	
 

	
If by courier:
	
  
	
1275 York Ave.

New York, NY 10065

Attn: General Counsel

Tel: 1-212-639-5800 (not for notice)

Fax: 1- 212-717-3517 (not for notice)

	
 
	
 

	
In the case of Licensee:        
	
  
	
Atara Biotherapeutics, Inc.

701 Gateway Blvd. Suite 200

South San Francisco, CA 94080

Attn: CEO

ARTICLE 19– MISCELLANEOUS PROVISIONS

 

			
	
 
	
19.1
	
Governing Law . This Agreement shall be construed, governed, interpreted and applied in accordance with the laws of the State of New York, without giving effect to any choice/conflict of law principles, except that questions affecting the construction and effect of any patent shall be determined by the law of the country in which the patent was filed or granted.

 

			
	
 
	
19.2
	
Jurisdiction . The state and federal courts located in New York County, New York, shall have exclusive jurisdiction of any claims or actions between or among the parties arising out of or relating to this Agreement or any aspect of the parties’ relationship, and each party consents to venue and personal jurisdiction of those courts for the purpose of resolving any such disputes.

 

			
	
 
	
19.3
	
Severability . Except to the extent a provision is stated to be essential, or otherwise to the contrary, or such provision is material and essential to the main purpose and intent of the Agreement, the provisions of this Agreement are severable, and in the event that any provisions of this Agreement shall be determined to be invalid or

 

34

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39

 

 

 

 

 

		
	
 
	
unenforceable under any controlling body of the law, such invalidity or unenforceability shall not in any way affect the validity or enforceability of the remaining provisions hereof, provided that the Parties will endeavor in good faith to agree on a replacement, valid provision, to add to this Agreement in the stead of such invalid provision, that comes closest to achieving the intent of the Parties in such provision.

 

			
	
 
	
19.4
	
Waiver . The failure of either party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party.

 

			
	
 
	
19.5
	
Counterparts . This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be an original and all such counterparts shall together constitute but one and the same agreement.

 

			
	
 
	
19.6
	
Force Majeure . A Party shall not lose any rights hereunder or be liable to the other Party for damages or losses (except for payment obligations) on account of a delay or failure of performance by the such party to the extent such the delay or failure is occasioned or caused by war, strike, fire, Act of God, tornado, hurricane, earthquake, fire, flood, lockout, embargo, governmental acts or orders or restrictions (except if imposed due to or resulting from the party’s violation of law or regulations), failure of suppliers, or any other circumstance or reason where the delay or failure to perform is beyond the reasonable control of such Party (a “ Force Majeure ”), and provided that such failure is not caused by the gross negligence or intentional misconduct of the Party and the Party has exerted reasonable efforts to avoid or remedy the effects of such Force Majeure; However, if a Force Majeure event causes a material failure of performance by a Party for a period of more than six months, then the other Party may terminate this Agreement on written notice. For clarity, a failure to obtain funding shall not constitute a force majeure event.

 

			
	
 
	
19.7
	
Entire Agreement . This Agreement, including its attachments and exhibits (which attachments and exhibits are incorporated herein by reference), constitutes the entire understanding among and between the parties with respect to the subject matter hereof, and supersedes all prior agreements and communications, whether written, oral or otherwise. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by the parties to this Agreement.

 

			
	
 
	
19.8
	
Relationship between the Parties . The relationship between the parties under this Agreement is that of independent contractors. Nothing contained in this Agreement shall be construed to create a partnership, joint venture or agency relationship between any of the parties. No party is a legal representative of any other party, and no party can assume or create any obligation, liability, representation, warranty or guarantee, express or implied, on behalf of another party for any purpose whatsoever.

 

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40

 

 

 

 

 

			
	
 
	
19.9
	
Construction and Interpretation . Words (including defined terms) denoting the singular shall include the plural and vice versa. The words “hereof”, “herein”, “hereunder” and words of the like import when used in this Agreement shall refer to this Agreement as a whole, and not to any particular provision of this Agreement. The term “including” (and any variant thereof), and the giving of examples, shall not be construed as terms of limitation and shall be deemed to mean “including without limitation”. The headings in this Agreement shall not affect its interpretation. Except as expressly provided herein, the rights and remedies herein provided shall be cumulative and not exclusive of any other rights or remedies provided by law or otherwise. Each of the parties has had an opportunity to consult with counsel of its choice. Each provision of this Agreement shall be construed without regard to the principle of contra proferentem. If any provision of this Agreement is held to be invalid or unenforceable the validity of the remaining provisions shall not be affected. The parties shall replace the invalid or unenforceable provision by a valid and enforceable provision closest to the intention of the parties when signing this Agreement. This Agreement was negotiated, and shall be construed and interpreted, exclusively in the English language.

[Signature Page Follows]

 

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41

 

 

 

 

IN WITNESS WHEREOF , authorized representatives of the Parties have executed this Agreement below.

 

													
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
ATARA BIOTHERAPEUTICS, INC.
	
 
	
 
	
 
	
MEMORIAL SLOAN KETTERING CANCER CENTER

	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Isaac Ciechanover
	
 
	
 
	
 
	
By:
	
 
	
/s/ Gregory Raskin, MD

	
 
	
 
	
Name:
	
 
	
Isaac Ciechanover
	
 
	
 
	
 
	
 
	
 
	
Name:
	
 
	
Gregory Raskin, MD

	
 
	
 
	
Title:
	
 
	
CEO
	
 
	
 
	
 
	
 
	
 
	
Title:
	
 
	
Vice President

Technology Development

 

37

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

42

 

 

 

 

Exhibit A

Licensed Tangible Materials and Licensed Know How

Licensed Tangible Materials .

[ * ]

Licensed Know-How .

[ * ]

 

38

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

43

 

 

 

 

Exhibit B

Form of Diligence Report

[ * ]

 

 

 

 

 

39

[  *  ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

44

 

 

 

 

Exhibit C

Licensed Patent Rights

[ * ]

 

 

 

 

 

40

[  *  ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

45

 

 

 

 

Exhibit D

Excluded Patents

[ * ]

 

 

 

 

 

41

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

46

 

 

 

 

Exhibit E

Form of Press Release

Atara Biotherapeutics Exercises Exclusive License to T-Cell

Technology from Memorial Sloan Kettering Cancer Center

Activated T-cell Technology Designed to Harness Immune System

to Fight Cancer and Infectious Disease

South San Francisco, Calif., June 15, 2015 – Atara Biotherapeutics, Inc. (Nasdaq: ATRA) today announced that it has exercised its exclusive option with Memorial Sloan Kettering Cancer Center (MSK) to license certain clinical stage, allogeneic T-cell therapies for the treatment of cancers and persistent viral infections. In connection with the exercise of the option, the Atara Bio license agreement with MSK grants Atara Bio exclusive worldwide rights to the following three allogeneic T-cell therapies:

 

				
	
 
	
•
	
 
	
T-cells activated against Epstein Barr Virus, or EBV (Phase 2);

 

				
	
 
	
•
	
 
	
T-cells activated against Cytomegalovirus, or CMV (Phase 2); and

 

				
	
 
	
•
	
 
	
T-cells activated against Wilms Tumor 1, or WT1 (Phase 1)

These three programs share a common technology, under which third-party donor-derived whole blood is collected and enriched for T lymphocytes, or T-cells. The T-cells are then exposed to certain antigens, and the resulting activated T-cells are characterized and stored for future therapeutic use. Using a proprietary algorithm, patients are treated with a partially human leukocyte antigen, or HLA, matched cell line, providing an “off-the-shelf,” allogeneic, cellular therapeutic option for patients. These T-cell products are intended to work by targeting the abnormal cells expressing the applicable target antigen and killing them.

Atara Bio announced earlier this year that its collaborating investigator at MSK received breakthrough therapy designation from the U.S. Food and Drug Administration for its cytotoxic T lymphocytes (CTL) activated against Epstein-Barr Virus (EBV-CTL) in the treatment of patients with rituximab-refractory, EBV-associated lymphoproliferative disease (EBV-LPD).

 

42

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

47

 

 

 

 

Clinical data have been presented as follows:

 

				
	
 
	
•
	
 
	
EBV-CTL in the treatment of patients with EBV-LPD after solid organ transplantation at the 2015 American Society of Clinical Oncology Annual Meeting.

 

				
	
 
	
•
	
 
	
EBV-CTL in the treatment of patients with EBV-LPD after allogeneic hematopoietic cell transplantation (HCT) at a Clinical Trial Plenary Session at American Association for Cancer Research Annual Meeting 2015

 

				
	
 
	
•
	
 
	
CMV-CTL in the treatment of patients with anti-viral resistant CMV after HCT including viremia only and CMV disease at the American Society of Hematology Annual Meeting 2014.

“Licensing these programs more than doubles the clinical stage programs active at Atara Bio and provides a potential platform technology that can be directed at other targets,” said Isaac Ciechanover, MD, Chief Executive Officer and President of Atara Bio. “Our T-cell programs use third party donor cells, and, if approved by regulatory authorities, will be available as “off-the-shelf” therapies for patients in need.”

Richard O’Reilly, MD, Chair of the Department of Pediatrics and Chief of the Pediatric Bone Marrow Transplant Service at MSK, notes that “We are delighted that Atara will continue to develop our existing T-cell technologies that have shown promising clinical benefit in patients. We also look forward to expanding the platform to treat patients with other types of cancer through our sponsored research efforts with Atara.” Dr. O’Reilly will join Atara Bio’s Scientific Advisory Board.

In connection with the exercise of the option and entry into the exclusive license agreement, MSK received an upfront license fee and will be eligible to receive additional payments based on the achievement of certain development, regulatory and sales-related milestones, as well as royalty payments. Atara Bio and MSK have agreed to collaborate on further research to develop additional cellular therapies, which may include T-cell therapies targeted against other antigens and/or chimeric antigen receptor-modified T-cells, known as CAR-T.

About Atara Biotherapeutics, Inc.

Atara Biotherapeutics, Inc. is a biopharmaceutical company focused on developing innovative therapies for patients with debilitating diseases. Atara Bio’s programs include molecularly-targeted product candidates and T-cell product candidates. The molecularly-targeted product candidates include PINTA 745, STM 434 and ATA

 

43

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

48

 

 

 

 

842, targeting myostatin and activin, members of the TGF-beta family of proteins that have demonstrated the potential to have therapeutic benefit in a number of clinical indications. T-cell product candidates include EBV-CTL, CMV-CTL and WT1-CTL.

Forward-Looking Statements

This press release contains or may imply “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because such statements deal with future events and are based on Atara Bio’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Atara Bio could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding the clinical development of product candidates and Atara Bio’s collaboration with MSK. These forward-looking statements are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Atara Bio’s quarterly report on Form 10-Q for the quarter ended March 31, 2015 and subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, Atara Bio disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

INVESTOR & MEDIA CONTACT:

Tina Gullotta, Atara Biotherapeutics, Inc.

650-741-1613

tgullotta@atarabio.com

 

44

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

49

 

 

 

 

Exhibit F

Form of Material Transfer Agreement

FORM OF MATERIAL TRANSFER AGREEMENT

 

45

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

50

 

 

 

 

 

			
	
 
	
 
	
 

	

	
  
	
AGREEMENT FOR INTER-INSTITUTIONAL

TRANSFER OF MATERIAL

Between

ACADEMIC COLLEAGUES

(“Agreement”)

 

		
	
1.
	
Memorial Sloan Kettering Cancer Center (“MSK”) and INSERT NAME (“INSTITUTION”) agree that MSK will provide INSTITUTION with [INSERT DESCRIPTION OF MATERIAL] (“MATERIAL”), subject to all the terms of this Agreement.

 

		
	
2.
	
MATERIAL and any related confidential information, including but not limited to, all non-public, confidential or proprietary information that MSK designated or otherwise marked as “Confidential” (“INFORMATION”) will be sent by Dr.                          of MSK (“INVESTIGATOR”) to INSTITUTION.

 

		
	
3.
	
INSTITUTION shall use MATERIAL and INFORMATION solely for the following purpose: [INSERT PURPOSE] (“STUDY”) as described in Exhibit A. INSTITUTION shall not use or permit the use of the MATERIAL and/or INFORMATION for any use or purpose other than conducting the STUDY.

 

		
	
4.
	
MSK retains exclusive ownership of MATERIAL and INFORMATION and may distribute MATERIAL and INFORMATION to other commercial or non-commercial entities.

 

		
	
5.
	
INSTITUTION will NOT use MATERIAL in humans.

 

		
	
6.
	
INSTITUTION shall not transfer MATERIAL or INFORMATION to any non-INSTITUTION person or entity without prior written consent from MSK.

 

		
	
7.
	
INSTITUTION represents that its use of MATERIAL and INFORMATION will be in compliance with all applicable laws and regulations.

 

		
	
8.
	
INSTITUTION agrees to hold in confidence for a period of [ * ] , all INFORMATION received from MSK under this Agreement, except for information which:

 

			
	
 
	
a)
	
was lawfully in INSTITUTION’s possession or control prior to the date of disclosure as evidenced by written records; or

 

			
	
 
	
b)
	
was in the public domain or enters into the public domain through no improper act on INSTITUTION’s part or on the part of any of INSTITUTION’s employees;

 

			
	
 
	
c)
	
is rightfully given to INSTITUTION from sources independent of MSK; or

 

			
	
 
	
d)
	
is independently developed by INSTITUTION, as evidenced by written records; or

 

			
	
 
	
e)
	
must be disclosed for minimum lawful compliance with court orders, regulations and statutes.

 

		
	
9.
	
INSTITUTION will report all STUDY results to INVESTIGATOR. MSK and INSTITUTION may use STUDY results for any internal non-commercial research or educational purpose. INSTITUTION may publish such results, provided that prior to any submission for such publication, INSTITUTION shall provide the draft publication to MSK at least [ * ] prior to the submission, so that MSK may review such publication for any potentially patentable information, and at MSK’s request, INSTITUTION will delay such submission for up to [ * ] to permit MSK to prepare and file patent applications covering such information. MSK may disclose the STUDY results to its commercial licensee of the MATERIAL, and such licensee may use the results for all its internal business purposes.

If INSTITUTION creates or discovers any inventions or intellectual property relating in any way to the MATERIAL (including improvements or enhancements of or uses of MATERIAL or products based

 

46

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

51

 

 

 

 

 

		
	
 
	
thereon) based on or as a result of conducting the STUDY (the “STUDY IP”), INSTITUTION shall report all such STUDY IP to MSK and provide a detailed description thereof. INSTITUTION grants to MSK a non-exclusive, perpetual, worldwide, royalty-free, fully-paid license under any such STUDY IP for all purposes relating to the MATERIAL and the use, improvement or development thereof (including in products), and MSK may disclose and sublicense (on a non-exclusive basis) such STUDY IP to its commercial licensee of the MATERIAL, for all commercial and business purposes. Further, INSTITUTION agrees that such commercial licensee of the MATERIAL shall have the exclusive option to obtain an exclusive, royalty-bearing license to any such STUDY IP. Such option shall expire [ * ] from the date of the disclosure of the STUDY IP to the commercial licensee. If the licensee exercises such option the INSTITUTION shall negotiate in good faith the commercially reasonable terms of an exclusive, worldwide, royalty-bearing, transferable and sublicensable license to the STUDY IP with commercial licensee.

 

		
	
10.
	
INSTITUTION shall not use the name of Memorial Sloan Kettering Cancer Center, Memorial Hospital for Cancer and Allied Diseases or Sloan-Kettering Institute for Cancer Research, or a variant of any of the foregoing in any advertising or publicity matter without the prior written approval of MSK.

 

		
	
11.
	
MATERIAL is being provided by MSK “ AS IS” WITHOUT ANY WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING ANY WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE. MSK MAKES NO REPRESENTATION THAT THE USE OF THE MATERIAL WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR OTHER PROPRIETARY RIGHT.

 

		
	
12.
	
In no event shall MSK be liable for any use by INSTITUTION of MATERIAL or for any loss, claim, damage, or liability, of any kind or nature that may arise from or in connection with this Agreement or the use, handling, or storage of MATERIAL. INSTITUTION agrees to assume all liability for damages that arise from its use, storage or disposal of MATERIAL, except to the extent such liability is due to MSK’s gross negligence or willful misconduct.

 

		
	
13.
	
INSTITUTION will reimburse MSK $                  for costs associated with shipping MATERIAL.

 

		
	
14.
	
The Agreement will terminate on the earlier of [ * ] or upon [ * ] prior written notice of one party to the other, in which case INSTITUTION will discontinue within [ * ] its use of MATERIAL. INSTITUTION agrees, upon direction of INVESTIGATOR, to return or destroy MATERIAL upon termination of this Agreement.

 

		
	
15.
	
This Agreement may not be assigned by INSTITUTION without the prior written consent of MSK.

 

		
	
16.
	
Articles 2, 5, 6, 9 and 11 will survive the termination of this Agreement.

 

		
	
17.
	
An authorized representative of each party must sign this Agreement. The Agreement is effective the date of the last signature below (“Effective Date”).

Send/fax/email one fully executed Agreement to:

Office of Technology Development

Memorial Sloan Kettering Cancer Center

1275 York Avenue

New York, NY 10065

Ph: (212) 639-6181

Fax: (212) 717-3439

 

47

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

52

 

 

 

 

 

									
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
INSTITUTION
	
 
	
 
	
 
	
MEMORIAL SLOAN KETTERING CANCER CENTER

	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 
	
 
	
By:
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
 
	
 
	
Name:
	
 
	
Gregory Raskin, M.D.

	
 
	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 
	
 
	
Title:
	
 
	
Vice President, Technology Development

	
 
	
 
	
 
	
 
	
 

	
Date:
	
 
	
 
	
 
	
 
	
 
	
Date:
	
 
	
 

INSTITUTION Investigator acknowledges that she/he has read and understood her/his and the INSTITUTION’s obligations under this Agreement:

Investigator’s signature:                                                  

Name:                                                  

Date:                                                  

 

48

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

53

 

 

 

 

Exhibit A:

Description of Study

 

 

 

 

 

49

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

54

 

 

 

 

Exhibit G

MSK Investigator Sponsored Trial Protocols

[ * ]

 

 

 

 

 

50

[ * ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

 

 

55EX-10.1

 Exhibit 10.1 

CONFIDENTIAL TREATMENT REQUESTED 

Redacted portions are indicated by [****]1 

THIRD AMENDMENT TO LEASE 

THIS THIRD AMENDMENT TO LEASE (this “Amendment”) is made and entered into as of the 16th day of March, 2015 (the “Effective Date”), by and between CPT 355 ALHAMBRA CIRCLE, LLC, a Delaware limited liability company, successor in interest to 355 Alhambra Plaza, Ltd.
(“Landlord”), and CATALYST PHARMACEUTICAL PARTNERS, INC., a Delaware corporation (“Tenant”). 
 WITNESSETH:

 WHEREAS, Landlord and Tenant entered into that certain Lease dated as of March 26, 2007 (the “Initial
Lease”), as amended by that certain Lease Addendum dated as of June 5, 2007 (the “Addendum”), that certain First Amendment to Lease dated as of June 30, 2011 (the “First Amendment”), and that
certain Second Amendment to Lease dated as of February 4, 2014 (the “Second Amendment”; the Initial Lease, as amended by the Addendum, First Amendment and Second Amendment, is referred to herein as the “Original
Lease”), pursuant to which Landlord leases to Tenant those certain premises containing approximately 2,616 rentable square feet known as Suites 1500 and 1501 (the “Current Premises”) in the building located at 355 Alhambra
Circle, Coral Gables, Florida (the “Building”); and 
 WHEREAS, Landlord and Tenant desire to (i) relocate the
Current Premises to certain premises containing approximately 5,247 rentable square feet known as Suite 1250 (the “New Premises”) on the twelfth (12th) floor of the Building;
(ii) extend the Lease Term; and (iii) modify and amend certain provisions of the Original Lease, as more particularly provided herein. 

NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Landlord and Tenant agree as follows: 
 1. Recitals. The foregoing Recitals are true and
correct and are incorporated herein by this reference. 
 2. Definitions. All capitalized terms used herein shall have the
same meaning given thereto in the Original Lease, unless otherwise defined herein. The term “Lease” as used in the body of this Amendment shall mean the Original Lease as modified and amended hereby. The term “Relocation
Date” shall mean the date of Substantial Completion of the Relocation Improvements (as hereinafter defined), which is estimated for non-binding purposes only to be June 1, 2015. The term “Premises” as used in the Lease
and this Amendment shall mean and refer to (i) the Current Premises until the Relocation Date, and (ii) the New Premises from and after the Relocation Date. 

 

	1 	[****] Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission Pursuant to Rule 24b-2 of the Securities Exchange
Act of 1934. 

 3. Representations and Warranties. Tenant represents and warrants to Landlord as
follows: 
 (a) The Current Premises is free of any liens or encumbrances caused by Tenant and no facts exist or will exist that could
result in a claim of a construction or other lien against the Current Premises as a result of any act or omission of Tenant. 
 (b) There is
no person, corporation, partnership or other entity that could or will be able to claim any interest in any portion of the Current Premises arising out of any acts of Tenant or otherwise by, through or under Tenant. 

(c) Except for the Lease (as amended hereby), there are no current agreements of Tenant in place, whether oral or written, affecting the
Current Premises except for typical equipment leases and similar agreements that do not convey a right to occupancy of the Current Premises. 

Tenant agrees to indemnify, defend and hold Landlord harmless from and against any claims, demands, liabilities, costs, expenses (including
but not limited to reasonable attorneys’ fees) or losses which Landlord may suffer arising from any inaccuracy in the foregoing representations and warranties or any of the following when resulting from or occurring out of Tenant’s acts or
omissions with respect to: (i) the existence (or alleged existence) of any lien or encumbrance claimed, (ii) any claim of an occupancy interest in or right to occupancy of the Current Premises made, or (iii) any actual or alleged
agreement relating to the right to occupy the Current Premises. 
 4. Vacating Current Premises; Lease of New Premises. 

(a) (i) On or prior to the fifth (5th) day following the Relocation
Date, Tenant shall vacate and surrender to Landlord the Current Premises in the condition required by the Lease, and 
 (ii)
Effective as of the Relocation Date, Tenant shall lease and have the right to occupy the New Premises under all of the terms, covenants and conditions of the Lease, except as otherwise set forth herein. Landlord shall use commercially reasonable
efforts to notify Tenant in writing (which notice may be by e-mail to Tenant’s designated representative, Pat McEnany, at pmcenany@catalystpharma.com, or by hand-delivery to Tenant at the Current Premises, notwithstanding anything to the
contrary contained in the Original Lease with respect to delivery requirements for written notices) approximately five (5) Business Days prior to the date on which the Relocation Date is expected to occur. 

(b) Landlord represents that the rentable square footage of the New Premises, when determined under BOMA Standards, is 5,247 rentable square
feet, and, on the basis of the foregoing certification, Landlord and Tenant stipulate and agree that the New Premises contain 5,247 rentable square feet. 

 (c) Effective as of the Relocation Date, Exhibit A to the Lease shall be deleted and replaced
with Exhibit A attached to this Amendment. 
 (d) Effective as of the Relocation Date, Section 9 of the Lease Summary
attached to the Lease shall be deleted in its entirety and replaced with the following: 
  

			
	 “9.    Gross Rentable Area of Premises (Section 1.1):
	  	Approximately 5,247 rentable square feet located on the 12th floor of the Building, known as Suite 1250, measured in accordance with ANSI-BOMA Z65.1-1996 standards (“BOMA
Standards”)”

 (e) Tenant shall be responsible for moving Tenant’s furniture, trade fixtures, computers, equipment
and all other items from the Current Premises to the New Premises, subject to Tenant’s right to apply a portion of the Relocation Allowance to payment of such moving expenses, as set forth in the Work Letter attached hereto and made a part
hereof as Exhibit B. 
 (f) Upon Landlord’s request, Tenant shall enter into a letter agreement specifying and/or
confirming the Relocation Date, provided that Tenant’s failure to execute such letter agreement shall not delay or affect the Relocation Date or the payment of Rent due with respect to the New Premises. 

5. Extension of Lease Term. Landlord and Tenant agree that the Term of the Lease is hereby extended for an additional five
(5) years, such that the Expiration Date shall hereafter be November 30, 2022, unless sooner terminated pursuant to the terms of the Lease, as amended from time to time. 

6. Base Rent. 

(a) Tenant shall continue to pay monthly installments of Base Rent (plus all other sums due under the Lease) with respect to the Current
Premises, as set forth in the Lease, through the Relocation Date. Provided that Tenant has timely vacated and surrendered to Landlord the Current Premises in the condition required by the Lease on or before five (5) days following the
Relocation Date, Tenant shall be released from any and all obligations with respect to the Current Premises accruing after the Relocation Date. 

(b) Commencing on the Relocation Date, Tenant shall commence payment of Base Rent with respect to the New Premises at the rate of $38.00 per
rentable square foot of the New Premises, i.e. approximately $199,386.00 per annum, plus applicable sales tax. The Base Rent per rentable square foot for each subsequent twelve (12)-month period shall be 103% of the Base Rent per rentable
square foot for the prior twelve (12)-month period, commencing the first (1st) day of the thirteenth (13th) month following the
Relocation Date. If the Relocation Date should be a date other than the first day of a calendar month, then the first installment of Base Rent for the New Premises shall be prorated by multiplying the regular monthly installment of Base Rent for the
New Premises by a fraction, the numerator of which is the number of days from the Relocation Date through the final day of the calendar month in which the Relocation Date occurs and the denominator of which is the total number of days in the
calendar month in which the Relocation Date occurs. 

 (c) Base Rent for the Premises shall be payable by Tenant monthly in equal monthly installments
as set forth above, in advance, together with applicable sales or use tax, in accordance with the terms and conditions of the Lease, without deduction or set-off, except to the extent, if any, expressly provided under the Lease, and shall be in
addition to all other sums due under the Lease. 
 (d) Notwithstanding anything to the contrary contained herein, Base Rent for the New
Premises shall be abated for the first five (5) full calendar months after the Relocation Date (such abated Base Rent for the New Premises being referred to herein as the “Abated Rent”), provided, however,
(i) Tenant’s credit for the Abated Rent may be rescinded and reversed upon the expiration of the Term of the Lease if any event of default by Tenant under the Lease has occurred and remains uncured on the expiration of the Term of the
Lease, whereupon Tenant shall be obligated to pay Abated Rent within three (3) Business Days following Landlord’s written notice of demand, and (ii) Tenant’s occupancy of the New Premises shall be subject to all of the provisions
of the Lease during the period of Abated Rent, except for the obligation to pay Base Rent for the New Premises. If the Relocation Date should be a date other than the first day of a calendar month, then the Abated Rent shall apply to the first five
(5) full calendar months after the month in which the Relocation Date occurs, and Tenant shall be obligated to pay Base Rent for the partial month in which the Relocation Date occurs within three (3) Business Days following the Relocation
Date. 
 7. Tenant’s Proportionate Share of Increased Operating Costs. 

(a) In addition to Base Rent, Tenant shall continue to pay Tenant’s Proportionate Share of Increased Operating Costs, together with
applicable sales or use tax, with respect to the Current Premises, to and including the Relocation Date. 
 (b) Effective as of the
Relocation Date: 
 (i) the “Base Year” shall be the calendar year 2016; 

(ii) “Tenant’s Proportionate Share” shall be 2.34%, calculated on the basis of the 224,241 rentable
square feet in the Building, measured in accordance with BOMA Standards; and 
 (iii) Tenant shall pay Tenant’s
Proportionate Share of Increased Operating Costs, together with applicable sales and use tax, with respect to the New Premises, in accordance with the Lease (as amended herein). 

8. Relocation Improvements and Relocation Allowance. Landlord shall have no construction or improvement obligations with respect
to the New Premises except for Landlord’s obligations expressly set forth in the Work Letter attached hereto and made a part hereof as Exhibit B. 

 9. AS IS. TENANT HEREBY ACKNOWLEDGES AND AGREES THAT (I) TENANT HAS TAKEN AND
IS CURRENTLY IN POSSESSION OF THE CURRENT PREMISES, (II) EXCEPT AS EXPRESSLY PROVIDED IN THIS AMENDMENT, TENANT SHALL ACCEPT THE NEW PREMISES IN ITS “AS IS” “WHERE IS” CONDITION (BUT TENANT RESERVES ITS RIGHTS WITH RESPECT TO
LATENT DEFECTS, IF ANY), AND (III) EXCEPT FOR THE RELOCATION IMPROVEMENTS, RELOCATION ALLOWANCE AND LANDLORD’S OBLIGATIONS AS EXPRESSLY PROVIDED IN THE LEASE, LANDLORD SHALL NOT BE REQUIRED TO PERFORM ANY WORK, MAKE ANY INSTALLATIONS OR TENANT
IMPROVEMENTS, OR INCUR ANY EXPENSES IN CONNECTION WITH THE CONSTRUCTION OF THE RELOCATION IMPROVEMENTS IN THE NEW PREMISES. 
 10.
Parking. 
 (a) Effective as of the Relocation Date, Section 21 of the Lease Summary attached to the Lease shall be
deleted in its entirety and replaced with the following: 
  

			
	 “21. No. of Parking Spaces:
	  	3 parking spaces per 1,000 rentable square feet in the Premises (i.e. 15 parking spaces) on an unreserved basis; See Article XIII and Exhibit C hereto.

 (b) The monthly parking fee for each unreserved parking space is currently Ninety and No/100 Dollars
($90.00) per unreserved parking space per month, which amount is payable in advance on the first day of each calendar month during the Term of the Lease, together with any applicable sales tax due thereon. Landlord and Tenant further agree that the
monthly parking fee for any parking spaces leased by Tenant may be increased from time to time to reflect the prevailing market rate for comparable parking in Coral Gables, Florida, as reasonably determined by Landlord, provided such increases shall
be made no more often than once per calendar year. 
 11. Signage. Landlord, as part of the Relocation Improvements, shall
(i) adjust the Building lobby directory to reflect Tenant’s relocation to the New Premises, effective on the Relocation Date, and (ii) at Tenant’s sole cost and expense, subject to application of the Relocation Allowance to such
cost and expense, provide Building standard signage at the entrance to the New Premises. 
 12. Tenant’s Option to
Terminate. The Termination Option set forth in Section 10 of the First Amendment, as amended in Section 8 of the Second Amendment, is hereby deleted in its entirety and the following option to terminate shall apply to the New
Premises: 
 Provided that Tenant is not in default under the Lease beyond any applicable notice, grace or cure period on the date Tenant shall exercise the
Termination Option, Tenant shall have a one (1) time option to terminate (the “Termination Option”) the Lease as of 11:59 p.m. on November 30, 2020 (the date when the Lease is terminated pursuant to this Section being
referred to herein as the “Early Termination Date”). Tenant shall exercise its Termination Option by 

 
(i) delivering to Landlord written notice (the “Termination Notice”) of such election to terminate the Lease on or before March 1, 2020, and (ii) paying to
Landlord the Termination Payment (hereinafter defined) simultaneously with delivery of the Termination Notice. If Tenant properly and timely delivers the Termination Notice and makes the Termination Payment, then the Lease shall be deemed to have
expired by lapse of time on the Early Termination Date. Tenant shall return the Premises to Landlord on the Early Termination Date in accordance with the terms of the Original Lease, including, but not limited to, Sections 5.2 and 5.4 of the Initial
Lease. If Landlord fails to receive the Termination Payment simultaneously with the Termination Notice, Tenant’s right to terminate hereunder shall, at Landlord’s sole option, be void. Unless Landlord otherwise agrees in writing, Tenant
may not exercise the Termination Option, and no termination hereunder shall be effective, if a default under the Lease by Tenant beyond any applicable notice, grace or cure period shall exist as of the date on which the Termination Notice is given.
Upon Tenant delivering the Termination Notice, any and all rights of Tenant to extend the Term of the Lease whether pursuant to a renewal option or otherwise, or to expand the Premises whether pursuant to a right of first offer or right of first
refusal, shall immediately be void and of no further force or effect. All obligations of either party to the other which accrue under the Lease on or before the Early Termination Date shall survive such termination. As used herein,
“Termination Payment” shall mean an amount equal to the “worth at the time of the termination” of (a) the brokerage commissions paid by Landlord in connection with this Amendment in accordance with Section 16(f)
of this Amendment, and (b) the cost of the Relocation Improvements paid by Landlord (collectively, the “Leasing Costs”). For purposes of this Section, the “worth at the time of the termination” is computed by
amortizing the Leasing Costs over the period from the Relocation Date through November 30, 2022, at an interest rate of eight percent (8%) per annum, to determine the portion allocated to the period after the Early Termination Date.
Landlord, within ten (10) days after Tenant’s written request (provided such request may be made no earlier than the Relocation Date), shall provide Tenant with its calculation of the amount of the Termination Payment. Notwithstanding
anything to the contrary set forth herein, in no event shall the Termination Payment exceed Sixty Nine Thousand Two Hundred Fifty Five and 13/100 Dollars ($69,255.13). 

Landlord and Tenant acknowledge that the Termination Payment is not a penalty, but is a reasonable estimate of the damages to be suffered by Landlord as a
consequence of Tenant’s exercise of the Termination Option. Tenant hereby acknowledges and agrees that Tenant shall not be entitled to any rebate or return of any portion of the Termination Payment as a consequence of the actual costs incurred
by Landlord in re-letting the Premises being less than the Termination Payment. 
 In the event (i) Tenant exercises the Termination Option, and
(ii) Tenant fails to vacate and surrender to Landlord the Premises on or before the Early Termination Date as required herein, then Tenant shall pay all Rent (including but not limited to Base Rent and Additional Rent) as set forth in the Lease
and all other amounts due under the Lease applicable to the Premises, at a rate equal to one hundred fifty percent (150%) of the rate in effect for the last full calendar month prior to the Early Termination Date, until such time as Tenant
vacates and surrenders to Landlord the Premises in accordance with the terms hereof. 

 13. Rights of First Refusal; Rights of First Offer. 

(a) Right of First Refusal on Current Premises. Subject and subordinate to the rights of other tenants existing as of the Effective
Date of this Amendment and their successors and assigns, and to renewals, extensions and/or expansions by other tenants and their successors and assigns under lease documents existing as of the Effective Date (together, “Third Party
Rights”), and provided that (i) Tenant has not assigned the Lease or sublet any portion of the Premises (except pursuant to the third paragraph of Section 8.1 of the Initial Lease), and (ii) Tenant is not in default under the
Lease beyond the expiration of any applicable notice, grace or cure period, if any, Tenant shall have a one-time right of first refusal (“Current Premises Refusal Right”) expiring eighteen (18) months after the Effective Date
of this Amendment to lease the Current Premises. If and when Landlord has received a bona fide third-party offer to lease the Current Premises on terms and conditions acceptable to Landlord (the “Current Premises Third-Party
Offer”), Landlord shall notify Tenant in writing of the Current Premises Third-Party Offer (the “Current Premises Offer Notice”), and Tenant shall have seven (7) Business days from the date of receipt of such Current
Premises Offer Notice to exercise its Current Premises Refusal Right by providing written notice thereof to Landlord. If Tenant timely exercises its Current Premises Refusal Right, Tenant shall lease the Current Premises on the same material terms,
covenants and conditions as are then applicable to the New Premises, including (a) the Current Premises shall be leased for a term that is coterminous with the Term of the Lease applicable to the New Premises, (b) the Base Rent rate for
the Current Premises shall be equal to the Base Rent rate then applicable to the New Premises, (c) any tenant improvement allowance and rent abatement period set forth herein applicable to the New Premises shall be adjusted on a pro-rata basis
based on the remaining Term of the Lease and applied to the Current Premises, and (d) Tenant’s parking allotment shall be increased according to the ratio set forth in the Lease. In the event Tenant fails to exercise the Current Premises
Refusal Right within the seven (7) Business day period, or elects not to exercise the Current Premises Refusal Right, Landlord shall be permitted to lease the Current Premises to any third party prospective tenant on the same terms and
conditions set forth in the Current Premises Third-Party Offer free of this Current Premises Refusal Right. If Tenant timely exercises its Current Premises Refusal Right, Landlord shall prepare and deliver to Tenant an amendment to the Lease
consistent with the terms hereof, and Tenant shall, within twenty (20) days after Landlord’s delivery of such amendment, execute and deliver such amendment to the Lease, to be reasonably acceptable to Landlord and Tenant, memorializing
such exercise and the terms, covenants and conditions applicable to the lease of such Current Premises pursuant to this Current Premises Refusal Right. Landlord shall have no obligation to deliver any Current Premises Offer Notice with respect to
Current Premises Third-Party Offers received by Landlord more than eighteen (18) months after the Effective Date, and the Current Premises Refusal Right shall thereafter expire and be of no further force or effect. 

Subject and subordinate to any Third Party Rights, and provided that (i) Tenant has not assigned the Lease or sublet any portion of the
Premises (except pursuant to the third paragraph of Section 8.1 of the Initial Lease), and (ii) Tenant is not in default under the Lease beyond the expiration of any applicable notice, grace or cure period, if any, Tenant shall, in
addition to the Current Premises Refusal Right, be permitted to lease the Current Premises on the terms and conditions set forth in this Section 13(a) if (1) Landlord has not received a Current Premises Third-Party Offer or delivered to
Tenant a Current Premises Offer Notice during the period 

 
expiring eighteen (18) months after the Effective Date of this Amendment and (2) Tenant provides written notice to Landlord of its request to lease the Current Premises on the terms and
conditions set forth in this Section 13(a). Promptly following receipt of such written request from Tenant, Landlord shall (A) determine whether any Third Party Rights are applicable, and (B) provide written notice to Tenant of the
exercise or failure to exercise such Third Party Rights. If any such Third Party Rights are not exercised, Landlord and Tenant shall follow the procedures set forth in this Section 13(a) for the preparation, delivery and execution of an
amendment memorializing the terms, covenants and conditions applicable to the lease of the Current Premises pursuant to this Section 13(a). The rights set forth herein shall expire eighteen (18) months after the Effective Date of this
Amendment. 
 (b) Right of First Refusal on [****]. Subject and subordinate to any Third Party Rights, and provided that
(i) Tenant has not assigned the Lease or sublet any portion of the Premises (except pursuant to the third paragraph of Section 8.1 of the Initial Lease), and (ii) Tenant is not in default under the Lease beyond the expiration of any
applicable notice, grace or cure period, if any, Tenant shall have a one-time right of first refusal (“[****] Refusal Right”) expiring eighteen (18) months after the Effective Date of this Amendment to lease that certain space
located on the [****] ([****]) floor of the Building containing approximately 2,526 rentable square feet of space known as [****] (“[****]”). If and when Landlord has received a bona fide third-party offer to lease [****] on terms
and conditions acceptable to Landlord (the “[****] Third-Party Offer”), Landlord shall notify Tenant in writing of the [****] Third-Party Offer (the “[****] Offer Notice”), and Tenant shall have seven
(7) Business days from the date of receipt of such [****] Offer Notice to exercise its [****] Refusal Right by providing written notice thereof to Landlord. If Tenant timely exercises its [****] Refusal Right, Tenant shall lease [****] on the
same material terms, covenants and conditions as are then applicable to the New Premises, including (a) [****] shall be leased for a term that is coterminous with the Term of the Lease applicable to the New Premises, (b) the Base Rent rate
for [****] shall be equal to the Base Rent rate then applicable to the New Premises, (c) any tenant improvement allowance and rent abatement period set forth herein applicable to the New Premises shall be adjusted on a pro-rata basis based on
the remaining Term of the Lease and applied to [****], and (d) Tenant’s parking allotment shall be increased according to the ratio set forth in the Lease. In the event Tenant fails to exercise the [****] Refusal Right within the seven
(7) Business day period, or elects not to exercise the [****] Refusal Right, Landlord shall be permitted to lease [****] to any third party prospective tenant on the same terms and conditions set forth in the [****] Third-Party Offer free of
this [****] Refusal Right. If Tenant timely exercises its [****] Refusal Right, Landlord shall prepare and deliver to Tenant an amendment to the Lease consistent with the terms hereof, and Tenant shall, within twenty (20) days after
Landlord’s delivery of such amendment, execute and deliver such amendment to the Lease, to be reasonably acceptable to Landlord and Tenant, memorializing such exercise and the terms, covenants and conditions applicable to the lease of [****]
pursuant to this [****] Refusal Right. Landlord shall have no obligation to deliver any [****] Offer Notice with respect to [****] Third-Party Offers received by Landlord more than eighteen (18) months after the Effective Date, and the [****]
Refusal Right shall thereafter expire and be of no further force or effect. 
 Subject and subordinate to any Third Party Rights, and
provided that (i) Tenant has not assigned the Lease or sublet any portion of the Premises (except pursuant to the third paragraph 

 
of Section 8.1 of the Initial Lease), and (ii) Tenant is not in default under the Lease beyond the expiration of any applicable notice, grace or cure period, if any, Tenant shall, in
addition to the [****] Refusal Right, be permitted to lease [****] on the terms and conditions set forth in this Section 13(b) if (1) Landlord has not received a [****] Third-Party Offer or delivered to Tenant a [****] Offer Notice during
the period expiring eighteen (18) months after the Effective Date of this Amendment and (2) Tenant provides written notice to Landlord of its request to lease [****] on the terms and conditions set forth in this Section 13(b).
Promptly following receipt of such written request from Tenant, Landlord shall (A) determine whether any Third Party Rights are applicable, and (B) provide written notice to Tenant of the exercise or failure to exercise such Third Party
Rights. If any such Third Party Rights are not exercised, Landlord and Tenant shall follow the procedures set forth in this Section 13(b) for the preparation, delivery and execution of an amendment memorializing the terms, covenants and
conditions applicable to the lease of [****] pursuant to this Section 13(b). The rights set forth herein shall expire eighteen (18) months after the Effective Date of this Amendment. 

(c) Right of First Offer on Current Premises. 

(i) Subject and subordinate to any Third Party Rights, and to the terms of any lease with a third party entered into by
Landlord following Tenant’s timely election not to lease, or failure to elect to lease, the Current Premises, and provided that (1) Tenant has not assigned the Lease or sublet any portion of the Premises (except pursuant to the third
paragraph of Section 8.1 of the Initial Lease), and (2) Tenant is not in default under the Lease beyond the expiration of any applicable notice, grace or cure period, if any, Tenant shall, commencing eighteen (18) months after the
Effective Date of this Amendment, have a one-time right of first offer (the “Current Premises Offer Right”) to lease the Current Premises, when and if such Current Premises becomes available for lease by Landlord. Landlord shall
notify Tenant in writing of the availability of the Current Premises for lease (the “Current Premises ROFO Notice”), and Tenant shall have seven (7) Business days from the date of receipt of such Current Premises ROFO Notice to
exercise its Current Premises Offer Right by providing written notice thereof to Landlord. 
 (ii) If Tenant timely exercises
the Current Premises Offer Right, the Base Rent rate and other terms, covenants and conditions applicable to the Current Premises shall be negotiated between Landlord and Tenant in good faith, and the Base Rent rate shall be based on the “then
current fair market rent rate” for buildings of comparable size, type and class located in the same area of Coral Gables, Florida, under renewal and expansion amendments being negotiated and entered into at or about the time such terms for the
Current Premises are being determined, giving appropriate consideration to tenant creditworthiness, tenant concessions, length of the term, landlord or building services provided to a tenant, brokerage commissions, tenant improvement allowances and
similar factors; provided, however, in all events, the term of the lease for the Current Premises shall be coterminous with the Term of the Lease for the New Premises, provided further, however, in the event less than three (3) years remain in
the Term of the 

 
Lease applicable to the New Premises, the Term of the Lease applicable to the New Premises and the Current Premises shall be extended for a minimum of five (5) years from the date of
commencement of the term applicable to the Current Premises under this Current Premises Offer Right or, in the alternative, for such greater term as Landlord and Tenant mutually agree. 

(iii) In the event Tenant fails to exercise the Current Premises Offer Right within the seven (7) Business Day period, or
elects not to exercise the Current Premises Offer Right, or Landlord and Tenant are unable after negotiating in good faith to agree on the terms of the lease of the Current Premises pursuant to this Current Premises Offer Right within fifteen
(15) Business Days after delivery of the Current Premises ROFO Notice, Landlord shall be free to lease the Current Premises to any third party prospective tenant free of this Current Premises Offer Right, and this Current Premises Offer Right
shall thereafter be of no further force or effect. 
 (iv) If Tenant timely exercises this Current Premises Offer Right, and
once the Base Rent rate and other terms, covenants and conditions have been determined, Landlord shall prepare and deliver to Tenant an amendment to the Lease consistent with the terms hereof, and Tenant shall, within twenty (20) days after
Landlord’s delivery of such amendment, execute and deliver such amendment to the Lease, to be reasonably acceptable to Landlord and Tenant, memorializing such exercise and the terms, covenants and conditions applicable to the lease of the
Current Premises pursuant to this Current Premises Offer Right. 
 (d) Right of First Offer on [****]. 

(i) Subject and subordinate to any Third Party Rights, and to the terms of any lease with a third party entered into by
Landlord following Tenant’s timely election not to lease, or failure to elect to lease, [****], and provided that (1) Tenant has not assigned the Lease or sublet any portion of the Premises (except pursuant to the third paragraph of
Section 8.1 of the Initial Lease), and (2) Tenant is not in default under the Lease beyond the expiration of any applicable notice, grace or cure period, if any, Tenant shall, commencing eighteen (18) months after the Effective Date
of this Amendment, have a one-time right of first offer (the “[****] Offer Right”) to lease [****], when and if [****] becomes available for lease by Landlord. Landlord shall notify Tenant in writing of the availability of [****]
for lease (the “[****] ROFO Notice”), and Tenant shall have seven (7) Business days from the date of receipt of such [****] ROFO Notice to exercise its [****] Offer Right by providing written notice thereof to Landlord. 

(ii) If Tenant timely exercises the [****] Offer Right, the Base Rent rate and other terms, covenants and conditions applicable
to [****] shall be negotiated between Landlord and Tenant in good faith, and the Base Rent rate shall be based on the “then current fair market rent rate” for buildings of comparable size, type and class located in the same area of Coral
Gables, Florida, 

 
under renewal and expansion amendments being negotiated and entered into at or about the time such terms for [****] are being determined, giving appropriate consideration to tenant
creditworthiness, tenant concessions, length of the term, landlord or building services provided to a tenant, brokerage commissions, tenant improvement allowances and similar factors; provided, however, in all events, the term of the lease for
[****] shall be coterminous with the Term of the Lease for the New Premises, provided further, however, in the event less than three (3) years remain in the Term of the Lease applicable to the New Premises, the Term of the Lease applicable to
the New Premises and [****] shall be extended for a minimum of five (5) years from the date of commencement of the term applicable to [****] under this [****] Offer Right or, in the alternative, for such greater term as Landlord and Tenant
mutually agree. 
 (iii) In the event Tenant fails to exercise the [****] Offer Right within the seven (7) Business Day
period, or elects not to exercise the [****] Offer Right, or Landlord and Tenant are unable after negotiating in good faith to agree on the terms of the lease of [****] pursuant to this [****] Offer Right within fifteen (15) Business Days after
delivery of the [****] ROFO Notice, Landlord shall be free to lease [****] to any third party prospective tenant free of this [****] Offer Right, and this [****] Offer Right shall thereafter be of no further force or effect. 

(iv) If Tenant timely exercises this [****] Offer Right, and once the Base Rent rate and other terms, covenants and conditions
have been determined, Landlord shall prepare and deliver to Tenant an amendment to the Lease consistent with the terms hereof, and Tenant shall, within twenty (20) days after Landlord’s delivery of such amendment, execute and deliver such
amendment to the Lease, to be reasonably acceptable to Landlord and Tenant, memorializing such exercise and the terms, covenants and conditions applicable to the lease of [****] pursuant to this [****] Offer Right. 

14. Renewal Option. Tenant acknowledges and agrees that Tenant has no further rights of renewal or similar rights in or to the
Premises or the Building, except as follows: 
 Subject to the conditions herein, provided that (a) Tenant has not assigned the Lease or sublet any
portion of the Premises other than to an entity controlling, controlled by or under common control with Tenant, or to any successor of Tenant resulting from a merger or consolidation of Tenant, and (b) Tenant is not in default under the Lease
beyond any applicable notice, grace or cure period, Tenant shall have the right, at Tenant’s option, to elect to extend the Term of the Lease for one (1) period of five (5) years (the “Renewal Term”). The Renewal
Term, if properly exercised in accordance herewith, shall commence on December 1, 2022, or on the first day following any subsequent extension of the Term under Section 13 of this Amendment. The Renewal Term shall be exercised by Tenant
giving written notice of the exercise thereof (the “Renewal Notice”) to Landlord on or before the day that is nine (9) months, but not more than twelve (12) months, prior to the then applicable Expiration Date of this
Lease. Tenant shall have no right to extend the Term of the Lease, and the Renewal Notice shall not be effective, if (i)

 
Tenant fails to timely give its Renewal Notice as provided herein, or (ii) a default by Tenant exists under the Lease beyond any applicable notice, grace or cure period (x) when
Landlord receives the Renewal Notice, or (y) upon the expiration of the Term of the Lease prior to the commencement of the Renewal Term. 

In the event Tenant properly exercises the Renewal Term, within ten (10) days of receipt of such Renewal Notice, Landlord shall provide
the annual Base Rent at which Landlord is willing to lease the Premises to Tenant for the Renewal Term (the “Renewal Rent”), which Renewal Rent shall be based on the “then current fair market rent rate” for buildings of
comparable size, type and class located in the same area of Coral Gables, Florida, under leases and renewal amendments being negotiated and entered into at or about the time the Renewal Rent is being determined, giving appropriate consideration to
tenant creditworthiness, tenant concessions, length of the term, landlord or building services provided to a tenant, brokerage commissions, tenant improvement allowances and similar factors. 

If Tenant in its reasonable judgment determines that Landlord’s proposed Renewal Rent does not accurately reflect the then current fair
market rent rate, Tenant shall provide Landlord written notice of its objection to Landlord’s determination of the Renewal Rent within ten (10) days after Tenant’s receipt of Landlord’s determination of Renewal Rent. If Tenant
timely delivers notice of its objection to Landlord’s determination of Renewal Rent as set forth above, then for a period of thirty (30) days after the date of Tenant’s notice (the “Negotiation Period”), Landlord and
Tenant shall work together in good faith to agree upon the Renewal Rent. If Landlord and Tenant fail to agree on the Renewal Rent within such Negotiation Period, Tenant shall, within ten (10) days after expiration of the Negotiation Period, by
written notice to Landlord, elect either (i) to withdraw its Renewal Notice, in which event the Lease shall expire on the then applicable Expiration Date, or (ii) to submit the Renewal Rent to determination in accordance with the following
procedures (the “Appraisal Election”): 
 (I) If the Appraisal Election is timely chosen, Landlord and
Tenant, within ten (10) days after the date of the Appraisal Election, shall each submit to the other, in a sealed envelope, its good faith estimate of the Renewal Rent (collectively referred to as the “Estimates”). If the
higher of such Estimates is not more than one hundred five percent (105%) of the lower of such Estimates, then the Renewal Rent shall be the average of the two Estimates. If the Renewal Rent is not resolved by the Estimates as set forth in the
preceding sentence, Landlord and Tenant, within seven (7) days after the exchange of Estimates, shall each select an appraiser to determine which of the two Estimates most closely reflects the Renewal Rent. Each appraiser so selected shall be
certified as an MAI appraiser or an ASA appraiser, shall have had at least five (5) years experience within the previous ten (10) years as a real estate appraiser working in Coral Gables, Florida, with working knowledge of current rental
rates and practices for office space, and shall not have been retained by the party selecting such appraiser during the prior five (5) year period. For purposes of this Lease, an “MAI” appraiser means an individual who holds an MAI
designation conferred by, and is an independent member of, the American Institute of Real Estate Appraisers (or its successor organization, or in the event there is no successor organization, the organization and designation most similar), and an
“ASA” appraiser means an individual who holds the Senior Member 

 
designation conferred by, and is an independent member of, the American Society of Appraisers (or its successor organization, or, in the event there is no successor organization, the organization
and designation most similar). Upon selection, Landlord’s and Tenant’s appraisers shall work together in good faith to agree upon which of the two Estimates most closely reflects the Renewal Rent. The Estimate chosen by such appraisers
shall be binding on both Landlord and Tenant as the Base Rent for the Premises during the Renewal Term. If either Landlord or Tenant fails to appoint an appraiser within the seven (7) day period referred to above, the appraiser appointed by the
other party shall be the sole appraiser for the purposes of determining the Base Rent during the Renewal Term. 
 (II) If the
two appraisers cannot agree upon which of the two Estimates most closely reflects the Renewal Rent within twenty (20) days after their appointment, then, within ten (10) days after the expiration of such twenty (20) day period, the
two (2) appraisers shall select a third appraiser meeting the aforementioned criteria for appraisers. Once the third appraiser has been selected as provided for above, then, as soon thereafter as practicable, but in any case within fourteen
(14) days, such third appraiser shall make his determination of the Renewal Rent, provided, however, that such third appraiser’s determination shall not be below the lowest of the two Estimates or higher than the highest of the two
Estimates, and such third appraiser’s determination shall be binding on both Landlord and Tenant as the Base Rent for the Premises during the Renewal Term. If the appraiser believes that expert advice would materially assist him, he may retain
one or more qualified persons, to provide such expert advice. The parties shall share equally in the costs of the appraisers and of any experts retained by such appraisers. In the event that the Renewal Rent has not been determined by the
commencement date of the Renewal Term, Tenant shall in addition to all other payments due under this Lease, pay Base Rent at the initial Renewal Rent determined by Landlord, until such time as the Renewal Rent has been finally determined. Upon such
determination, the Base Rent for the Premises shall be retroactively adjusted (if necessary) to the commencement of the Renewal Term. If such adjustment results in an underpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such
underpayment within thirty (30) days after the determination thereof. If such adjustment results in an overpayment of Base Rent by Tenant, Landlord shall credit such overpayment against the next installment of Base Rent due under the Lease and,
to the extent necessary, any subsequent installments until the entire amount of such overpayment has been credited against Base Rent. 
 If within such ten
(10) day period, Tenant fails to provide written notice of its election of either (i) or (ii) above, then Tenant shall be deemed to have accepted Landlord’s initial determination of Renewal Rent for the Renewal Term, and shall
have no further right to object to same. 
 In the event Tenant properly exercises the Renewal Term and the Renewal Rent is determined, the terms of the
Lease, as extended, shall be on the same terms, covenants, and conditions as set forth in the Lease, except (a) as modified by the Renewal Rent (which shall be incorporated into the Lease), (b) the Base Year for purposes of determining
Tenant’s Proportionate Share of Increased Operating Costs shall be modified to the then current base year then being offered to prospective tenants of the Building, and (c) Tenant shall have no further right to extend the Term

 
of the Lease. Additionally, Tenant shall, within twenty (20) days after Landlord’s request, execute and deliver an amendment to the Lease, prepared by and acceptable to Landlord,
memorializing such exercise of the Renewal Term and the Renewal Rent. 
 15. Tenant Acknowledgment. Tenant acknowledges and
agrees that the relocation to the New Premises is being made at Tenant’s request and does not trigger any termination rights of Tenant under the Lease, including without limitation, any termination right under Section 11.4 (as amended) of
the Initial Lease. 
 16. Miscellaneous. 

(a) Except as modified by this Amendment, all other terms, covenants and conditions of the Lease not specifically amended hereby shall remain
in full force and effect. 
 (b) The Lease, as amended herein, contains the entire agreement of the parties hereto and no representations,
inducements, promises or agreements, oral or otherwise, between the parties not embodied herein shall be of any force or effect. The Lease may be further amended only in writing signed by both Landlord and Tenant. 

(c) In the event of an irreconcilable conflict between the terms of the Lease and the terms of this Amendment, the terms of this Amendment
shall control. 
 (d) If any provision of this Amendment is held to be invalid or unenforceable, the same shall not affect the validity or
enforceability of the other provisions of this Amendment, which shall continue in full force and effect as if the invalid or unenforceable provision had been deleted. 

(e) This Amendment may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one
and the same instrument. 
 (f) Landlord and Tenant each represent and warrant to the other that it did not deal with any real estate
broker, salesperson or finder in connection with this Amendment, and no other such person initiated or participated in the negotiation of this Amendment, except Taylor & Mathis (“TM”) and Cresa South Florida
(“Cresa”). Landlord and Tenant each agree to indemnify, defend and hold the other harmless from any claim for a fee or commission made by any broker (except TM and Cresa), salesperson or finder claiming to have acted on behalf of
the indemnifying party (or at such party’s request) in connection with this Amendment. Tenant agrees that TM exclusively represents Landlord. Landlord agrees that Cresa exclusively represents Tenant. Landlord shall pay TM and Cresa a commission
pursuant to a separate written agreement between Landlord and TM. 
 (g) To Tenant’s knowledge, there is no default by Landlord, or any
prior landlord, under the Lease. To Landlord’s knowledge, there is no default by Tenant under the Lease. 
 (h) Submission of this
Amendment by Landlord or Landlord’s agent, or their respective agents or representatives, to Tenant for examination and/or execution shall not in any manner bind Landlord and no obligations on Landlord shall arise under this Amendment unless
and until this Amendment is fully signed and delivered by Landlord and Tenant. 
 (i) Each party represents to the other that it has full
power and authority to execute this Amendment. 

 17. Waiver of Jury Trial. AS A MATERIAL INDUCEMENT TO THE EXECUTION OF THIS
AMENDMENT, LANDLORD AND TENANT AGREE THAT IN THE EVENT OF ANY LITIGATION ARISING OUT OF THE TERMS OR PROVISIONS OF THE LEASE OR ANY AMENDMENTS THERETO (INCLUDING BUT NOT LIMITED TO THIS AMENDMENT), OR THE RELATIONSHIP BETWEEN LANDLORD AND TENANT,
THEN NEITHER PARTY SHALL SEEK A JURY TRIAL IN SUCH PROCEEDING, IT BEING EXPRESSLY AGREED AND STIPULATED BY THE PARTIES HERETO THAT ANY DISPUTES ARE BETTER RESOLVED BY A JUDGE. 

18. OFAC/PATRIOT Act Compliance. Each of Landlord and Tenant, each as to itself, hereby represents and warrants, to the best of
its knowledge, that it is not a person and/or entity with whom United States persons are restricted from doing business under the International Emergency Economic Powers Act, 50 U.S.C. § 1701 et seq.; the Trading with the Enemy Act, 50 U.S.C.
Appendix §5; and implementing regulations promulgated thereunder by the U.S. Department of Treasury Office of Foreign Assets Control (“OFAC”) (including those persons and/or entities named on OFAC’s List of Specially
Designated Nationals and Blocked Persons (the “SDN List”); or any other applicable anti-terrorist law of the United States, including without limitation Executive Order No. 13224, effective September 24, 2001, and relating
to Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism. Each of Landlord and Tenant, each as to itself, hereby represents and warrants, to the best of its knowledge, that no person and/or
entity who is named on the SDN List has any direct interest in Landlord or Tenant with the result that this Lease would be prohibited by any applicable law of the United States. Each of Landlord and Tenant, each as to itself, hereby represents and
warrants, to the best of its knowledge, that it is not in violation of any of the applicable provisions of the U.S. Federal Bank Secrecy Act, as amended by Title III of the United and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001 (the “PATRIOT Act”), Public Law 107-56; any of the applicable provisions of the implementing regulations related thereto, including those promulgated by the U.S. Department of Treasury
contained at 31 CFR Part 103; or any other applicable anti-money laundering laws of the United States. It is understood and agreed that the representations set forth herein are made as of the Effective Date of this Amendment. 

19. Non-Disclosure of Terms of Amendment. Tenant acknowledges that the terms of this Amendment and the Lease are and shall
remain confidential information, and Tenant shall not disclose to any third-party the specific terms of this Amendment or the Lease, except (i) to Tenant’s legal counsel, brokers, auditors, lenders, and managing agents for ordinary course
lease administration purposes, or in connection with a proposed assignment or sublease, or any proposed merger by or acquisition of Tenant, each of whom shall maintain the confidentiality of such information, (ii) as specifically authorized to
do so in writing by Landlord, or (iii) as otherwise required by law. 

 20. Temporary Space. 

(a) Effective ten (10) days following the Effective Date of this Amendment (such date being referred to as the “Temporary Space
Commencement Date”), Landlord shall, on a temporary basis, license to Tenant the use and occupancy (under all of the terms, covenants and conditions of the Lease except as otherwise set forth herein) of available space on the fourteenth (14th) floor of the Building of approximately 1,000 rentable square feet (the “Temporary Space”), as designated by Landlord. Tenant shall occupy the Temporary Space pursuant to the
terms of the Lease, and shall be bound by all of the terms, covenants and conditions of the Lease, except as otherwise set forth in this Section 20. 

(b) Landlord and Tenant agree that the Temporary Space is licensed to Tenant on a temporary basis only, commencing upon the Temporary Space
Commencement Date and expiring five (5) days following the Relocation Date. Tenant shall have no right to occupy, or extend the license of, the Temporary Space beyond five (5) days following the Relocation Date. 

(c) Tenant shall pay Base Rent with respect to the Temporary Space during the term of the temporary license of the Temporary Space in a
monthly amount equal to the following: 
 1,000 rentable square feet multiplied by a rate per square foot of $20.00, divided by twelve (12),
plus applicable sales tax thereon. 
 Base Rent for the Temporary Space shall be payable by Tenant monthly in equal monthly installments, in
advance, on the first (1st) day of the month, together with applicable sales tax thereon, and otherwise in accordance with the terms and conditions of the Lease, and without deduction or
set-off. Base Rent for any period which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Base Rent shall be payable in lawful money of the United States to Landlord at the address
stated in the Lease or to such other persons or at such other places as Landlord may designate in writing. 
 (d) Landlord shall have the
right, at any time upon thirty (30) days written notice to Tenant, to relocate the Temporary Space to other available space within the Building of approximately the same rentable square footage and upon such relocation, such new space shall be
deemed the Temporary Space. If the Temporary Space is relocated, (i) such new space shall be provided in its “AS IS” condition, (ii) Tenant shall, at Tenant’s cost, timely move Tenant’s trade fixtures, furnishings and
equipment to the new space, (iii) there shall be no abatement of Base Rent for the Temporary Space or compensation to Tenant for such relocation, and (iv) the terms of Section 11.4 of the Initial Lease shall not apply to the Temporary
Space 
 (e) Within five (5) days following the Relocation Date, Tenant shall surrender the Temporary Space to Landlord in the same
condition as received, ordinary wear and tear excepted, clean and free of debris. Tenant shall repair any damage to the Temporary Space occasioned by the installation or removal of Tenant’s trade fixtures, alterations, furnishings or equipment.

 (f) If Tenant remains in possession of the Temporary Space, or any part thereof, more than five
(5) days following the Relocation Date, such occupancy shall be deemed to be a month to month tenancy, subject to all the provisions of the Lease pertaining to the obligations of Tenant, except that Tenant shall be obligated to pay Base Rent
for such period at a rate equal to $40.00 per rentable square foot of the Temporary Space and shall also be liable for any and all other damages Landlord suffers as a result of such holdover including, without limitation, the loss of a prospective
tenant for such space. 
 (g) TENANT HEREBY ACKNOWLEDGES AND AGREES THAT (I) TENANT SHALL ACCEPT THE TEMPORARY SPACE IN ITS “AS
IS” CONDITION, AND (II) LANDLORD SHALL NOT BE REQUIRED TO PERFORM ANY WORK, MAKE ANY INSTALLATIONS OR IMPROVEMENTS, OR INCUR ANY EXPENSES IN CONNECTION WITH THE TEMPORARY SPACE. 

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 IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by their duly
authorized representatives and delivered as their act and deed as of the Effective Date first set forth above, intending to be legally bound by its terms and provisions. 

 

									
	WITNESSES:	 		 	LANDLORD:
				
		 		 		 	CPT 355 ALHAMBRA CIRCLE, LLC, a Delaware limited liability company
				
	 /s/ Laura Miller
	 		 	By:	 	 /s/ Daniel J. Bradley

	Print Name:	 	 Laura Miller
	 		 	Name:	 	 Daniel J. Bradley

		 		 		 	Title:	 	 Authorized Signatory

				
	 /s/ Zachary Lombardi
	 		 		 	
	Print Name:	 	 Zachary Lombardi
	 		 		 	
				
		 		 		 	TENANT:
				
		 		 		 	CATALYST PHARMACEUTICAL PARTNERS, INC., a Delaware corporation
				
	 /s/ Alicia Grande
	 		 	By:	 	 /s/ Patrick J. McEnany

	Print Name:	 	 Alicia Grande
	 		 	Name:	 	 Patrick J. McEnany

		 		 		 	Title:	 	 CEO/President

				
	 /s/ Isabel Nunez
	 		 		 	
	Print Name:	 	 Isabel Nunez
	 		 		 	

 Exhibit A 

Floor Plan of New Premises 

[****] 

 Exhibit B 

Work Letter 
 [****] 

 Exhibit B-1 

Initial Space Plan 
 [****]

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