Document:

EX-10.3

 SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN
REQUESTED. THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT WITH THREE ASTERISKS [***]. AN UNREDACTED VERSION OF THIS EXHIBIT HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 

Exhibit 10.3 
 THIS
OPTION AGREEMENT (the “Agreement”) is made and entered into as of March 16, 2016 (the “Effective Date”), by and among, CRISPR Therapeutics AG, a stock corporation (Aktiengesellschaft) organized under
the laws of Switzerland and registered under the registration number CHE-494.642.722 (“CRISPR”), and Bayer HealthCare LLC, a limited liability company incorporated under the laws of Delaware (“Bayer”) and VIVR, LLP
,a limited liability partnership incorporated under the laws of England and Wales (“Company”). Bayer and CRISPR, collectively, are the “Optionees” and each, individually, is an “Optionee”. Terms not
otherwise defined herein shall have the meaning set forth in that certain Joint Venture Agreement, dated as of December 19, 2015 (as amended, restated, or otherwise modified from time to time, the “JV Agreement”). 

WHEREAS, CRISPR and Bayer are parties to the JV Agreement; and 

WHEREAS, the Company desires to provide for an option to each Optionee with respect to Licensed Products developed under the JV
Agreement. 
 NOW THEREFORE, the Optionees and the Company agree as follows: 

ARTICLE 1 DEFINITIONS 

The following terms shall have the following meanings: 

1.1 “Affiliate” or “Affiliates” means, with respect to any entity, any Person that directly or indirectly, through one or more
intermediaries, controls, is controlled by or is under common control with such entity; and for the purposes of this definition, “control” (and the terms “controlled by” and “under common control with”) means the
possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, directly or indirectly, whether through the ownership of voting securities or by contract or otherwise. Without limiting
the generality of the foregoing, a Person shall be deemed to control another Person if any of the following conditions is met: (a) in the case of corporate entities, direct or indirect ownership of at least fifty percent (50%) of the stock
or shares having the right to vote for the election of directors, and (b) in the case of non-corporate entities, direct or indirect ownership of at least fifty percent (50%) of the equity interest with the power to direct the management
and policies of such non-corporate entities. The Parties acknowledge that in the case of certain entities organized under the laws of certain countries outside of the United States, the maximum percentage ownership permitted by law for a foreign
investor may be less than fifty percent (50%), and that in such case such lower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the power to direct the management and policies of such entity. For
the purposes of this Agreement, (i) no Party or any of its Affiliates shall be considered an Affiliate of any other Party or any of its Affiliates or of the Company or any of its Affiliates, and neither the Company nor any of its Affiliates
shall be considered an Affiliate of any Party or any of its Affiliates, simply by virtue of this Agreement or the relationships created hereby or by the Company Organization Documents or any Local Operating Agreement, and (ii) no Person shall
be considered an Affiliate of a Party solely as a result of their right to designate a member of such Party’s board of directors. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 1 - 

 1.2 “Approval Application” means, with respect to a Licensed Product in a particular jurisdiction, an
application for approval, license, registration or authorization necessary for the Commercialization of such Licensed Product in such jurisdiction, including, with respect to the United States, an application for approval for such Licensed Product
by the FDA, and with respect to the European Union, an application for approval for such Licensed Product by the European Commission. 
 1.3 “Bayer
Field” means any Field under the heading “Bayer Field” on Schedule 3.1 of the JV Agreement. 
 1.4 “Business Day” means any day
other than a Saturday, a Sunday or a day on which banks in New York City, United States of America or Frankfurt-Main, Germany or Leverkusen, Germany are authorized or obligated by applicable law or executive order to close. 

1.5 “Change of Control” means, with respect to Party, any of the following events: (a) any Person is or becomes the “beneficial
owner” (as such term is used in Section 13(d) of the Securities Exchange Act of 1934, as amended, and Rule 13d-3 thereunder, except that a Person shall be deemed to have “beneficial ownership” of all shares that any such Person
has the right to acquire, whether such right may be exercised immediately or only after the passage of time), directly or indirectly, of a majority of the total voting power represented by all classes of capital stock then outstanding of Party
normally entitled to vote in elections of directors; (b) Party consolidates with or merges into another corporation or entity, or any corporation or entity consolidates with or merges into Party, other than (i) a merger or consolidation
that would result in the voting securities of Party outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any
parent thereof) a majority of the combined voting power of the voting securities of Party or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (ii) a merger or consolidation effected to
implement a recapitalization of Party (or similar transaction) in which no Person becomes the beneficial owner, directly or indirectly, of voting securities of Party representing a majority of the combined voting power of Party’s then
outstanding securities; or (c) Party conveys, transfers or leases all or substantially all of its assets to any Person other than a wholly-owned Affiliate of such Party; provided, that a financing transaction, the primary purpose of which is to
raise capital for such Party, shall in no event be considered a Change of Control. 
 1.6 “Clinical Trial” means a study in humans that is
designed to generate data in support of an Approval Application. 
 1.7 “Commercialize” or “Commercialization” means to market, promote,
distribute, offer for sale, sell, have sold, import, export or otherwise commercialize a product, to conduct activities, other than, Development and Manufacturing, in preparation for the foregoing activities, including obtaining Price Approval, and
to conduct Clinical Trials and post-Marketing Approval studies. When used as a noun, “Commercialization” means any and all activities involved in Commercializing. 

1.8 “Commercially Reasonable Efforts” means with respect to the efforts to be expended by any Person, with respect to any objective, reasonable,
diligent and good faith efforts to 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 2 - 

 
accomplish such objective. With respect to any Objective relating to the research, Development or Commercialization of a Licensed Agent or Licensed Product, “Commercially Reasonable
Efforts” means that level, caliber and quality of efforts and resources reasonably and normally used (as to CRISPR) by biopharmaceutical companies with adequate financing and resources, (as to Company), by biopharmaceutical companies of similar
size to Company with adequate financing and resources and (as to Bayer) as Bayer would normally use to accomplish a similar objective under similar circumstances, as to a potential or actual product that is important to such Person’s overall
strategy or Objectives, taking into account, without limitation, with respect to each Licensed Agent or Licensed Product, (a) issues of safety, efficacy, product profile, (b) likelihood of receiving Marketing Approval for the applicable
Licensed Product, (c) potential to accelerate the development and regulatory timelines for the Licensed Product, (d) regulatory structure involved, (e) Regulatory Authority-approved labeling, (f) market potential of the Licensed
Product, (g) potential benefit of the Licensed Product to patients with the relevant indication, (h) competitiveness in the marketplace, (i) proprietary position and (j) other relevant scientific, technical and business factors
deemed relevant by the applicable Party. “Commercially Reasonable Efforts” shall be determined on a country-by-country basis and activities that are conducted in one country that have an effect on achieving the relevant Objective in
another country shall be considered in determining whether Commercially Reasonable Efforts have been applied in such other countries. 
 1.9
“Control” means with respect to any Know-How or Patent or other data, information or Materials, possession of the ability by a Party or its Affiliate(s) (whether by sole or joint ownership, license or otherwise, but in all cases not
including when such rights are granted or obtained pursuant to the Transaction Documents) to grant, without violating the terms of any agreement with a Third Party, a license, access or other right in, to or under such Know-How or Patent or other
data, information or Materials. Notwithstanding anything in the Transaction Documents to the contrary, a Party will be deemed to not Control any Patents or Know-How that are owned or controlled by a Third Party described in the definition of
“Change of Control,” or such Third Party’s Affiliates (other than an Affiliate of such Party prior to the Change of Control), (a) prior to the closing of such Change of Control, except to the extent that any such Patents or
Know-How were developed prior to such Change of Control through the use of such Party’s technology, or (b) after such Change of Control to the extent that such Patents or Know-How are developed or conceived by such Third Party or its
Affiliates (other than such Party) after such Change of Control without using or incorporating such Party’s technology. A Party does not need to amend any existing in-license as of the Effective Date so that such Party “Controls” any
IP under such given in-license. 
 1.10 “Covered Target” means a Target as and for so long as such Target remains the subject of a license or
similar grant of rights under the Existing Third Party Agreement. For the avoidance of doubt, Covered Targets shall not be deemed Third-Party Targets or Excluded Covered Targets. 

1.11 “Crispr/Cas Technology” means clustered regularly interspaced short palindromic repeats (CRISPR)/CRISPR-associated (Cas) protein system that
comprises (a) at least one guide RNA element that is complementary to a Target, wherein said guide RNA element can be a guide RNA or a polynucleotide(s) encoding such guide RNA, and (b) a nuclease element, wherein said nuclease element is
a Cas nuclease protein. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 3 - 

 1.12 “CRISPR Field” means any Field under the heading “CRISPR Field” on Schedule 3.1 of the
JV Agreement. 
 1.13 “Develop” or “Development” means, with respect to a Licensed Agent, all clinical and non-clinical research and
development activities conducted for such Licensed Agent, including toxicology, pharmacology test method development and stability testing, process development, formulation development, delivery system development, quality assurance and quality
control development, statistical analysis, Clinical Trials (other than post-Marketing Approval Clinical Trials), regulatory affairs, pharmacovigilance, Clinical Trial regulatory activities and obtaining and maintaining Regulatory Approval. When used
as a verb, “Develop” or “Developing” means to engage in Development. 
 1.14 “EMA” means the European Medicines Agency and any
successor entity thereto. 
 1.15 “Existing Third Party Agreement” means that certain Strategic Collaboration, Option and License Agreement
entered into by and between CRISPR (and certain of its Affiliates) and Vertex Pharmaceuticals, Incorporated (and certain of its Affiliates) dated as of October 26, 2015. 

1.16 “European Commission” means the European Commission or any successor entity that is responsible for granting Marketing Approvals authorizing
the sale of pharmaceuticals in the European Union. 
 1.17 “European Union” or “EU” means each and every country or territory that is
officially part of the European Union. 
 1.18 “FDA” means the United States Food and Drug Administration and any successor agency thereto. 

1.19 “Fields” means the CRISPR Fields and the Bayer Fields, provided fields shall not include diagnosis, prevention or treatment of cystic fibrosis.

 1.20 “FTE” shall mean a full time equivalent employee (i.e., one fully-committed or multiple partially-committed employees aggregating
to one full-time employee) employed or contracted by a Party and assigned to perform specified work, with such commitment of time and effort to constitute one employee performing such work on a full-time basis, which for purposes hereof shall be
eighteen hundred (1,800) hours per year. 
 1.21 “GAAP” means United States generally accepted accounting principles, consistently applied,
as in effect from time to time. 
 1.22 “Governmental Authority” means any court, agency, authority, department, regulatory body or other
instrumentality of any government or country or of any national, federal, state, provincial, regional, county, city or other political subdivision of any such government or any supranational organization of which any such country is a member. 

1.23 “IFRS” means International Accounting Standards/International Financial Reporting Standards of the International Accounting Standards Board as
amended from time to time. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 4 - 

 1.24 “IND” means with respect to each Licensed Product in a Field, an Investigational New Drug
Application filed with the FDA with respect to such Licensed Product, as described in the FDA regulations, including all amendments and supplements to the application, and any equivalent filing with any Regulatory Authority outside the United
States. 
 1.25 “Intellectual Property” means (i) patents (including utility, design, plant, utility model, reissues, re-examination, and
patents of addition), patent applications (filed, unfiled or being prepared), records of invention, (ii) trademarks (registered or unregistered), trademark applications, trade names, copyrights (registered or unregistered), copyright
applications, mask works, service marks (registered or unregistered), service mark applications, database rights (registered or unregistered), all together with the goodwill associated with such marks or names, (iii) trade secrets, technology,
inventions, know-how, processes and confidential and proprietary information, including any being developed (including but not limited to designs, manufacturing data, design data, test data, operational data, and formulae), whether or not recorded
in tangible form through drawings, software, reports, manuals or other tangible expressions, whether or not subject to statutory registration, anywhere, and all rights to any of the foregoing. 

1.26 “Intellectual Property Management Agreement” means that certain Intellectual Property Management Agreement by and among the Company, Bayer,
CRISPR and certain of CRISPR’s Affiliates dated as of March 16, 2016. 
 1.27 “Know-How” means Intellectual Property, data, results,
pre-clinical and clinical protocols and data from studies and Clinical Trials, chemical structures, chemical sequences, information, inventions, know-how, formulas, trade secrets, techniques, methods, processes, procedures and developments, whether
or not patentable; provided that Know-How does not include Patents claiming any of the foregoing. 
 1.28 “Law” or “Laws” means
all applicable laws, statutes, rules, regulations and other pronouncements having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision, agency or other body, domestic or foreign,
including any applicable rules, regulations, guidelines, or other requirements of the Regulatory Authorities that may be in effect from time to time. 

1.29 “Licensed Agent” means a product comprising (a) all components of a Crispr/Cas Technology, for Targeting a Target, where such Crispr/Cas
Technology, or any portion thereof is discovered by or on behalf of the Company or a Local Operating Entity (solely or jointly with such entities), or is in the Company’s or a Local Operating Entity’s Control, prior to the Effective Date,
or during the Technology Term or (b) modified human cells or tissue, or another cell- or tissue-based product, or any other therapeutic product comprising or produced using the Crispr/Cas Technology, in each case produced using the components
referred to in clause (a). 
 1.30 “Licensed Product” means any Product that (i) has been licensed by a Party following opt-in or
(ii) licensed to a Third Party. All Products comprising the same Licensed Agent(s) (and no additional Licensed Agents) will be considered the same Licensed Product under this Agreement. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 5 - 

 1.31 “Local Operating Agreement” means, as applicable, any agreement governing the formation and
operation of any Local Operating Entity formed pursuant to Section 3.3 of the JV Agreement. 
 1.32 “Local Operating Entity” means any local
operating entity formed by the Company pursuant to Section 3.3 of the JV Agreement. 
 1.33 “Manufacture” or “Manufacturing” means
activities directed to making, having made, producing, manufacturing, processing, filling, finishing, packaging, labeling, quality control testing and quality assurance release, shipping or storage of a product. 

1.34 “Marketing Approval” means, with respect to a Licensed Product in a particular jurisdiction, all approvals, licenses, registrations or
authorizations necessary for the Commercialization of such Licensed Product in such jurisdiction, including, with respect to the United States, approval of an Approval Application for such Licensed Product by the FDA and with respect to the European
Union, approval of an Approval Application for such Licensed Product by the European Commission. 
 1.35 “Materials” means all biological
materials or chemical compounds arising out of a Party’s activities under this Agreement or otherwise provided by a Party for use by the other Party to conduct activities pursuant to this Agreement, including Licensed Agents, Clinical Trial
samples, cell lines, assays, viruses and vectors. 
 1.36 “Out-of-Pocket Costs” means, with respect to a Party, costs and expenses paid by such
Party to Third Parties (or payable to Third Parties and accrued in accordance with GAAP or IFRS), other than Affiliates or employees of such Party. 
 1.37
“Party” or “Parties” means, when used in singular, any signatory to the applicable agreement, as the context may require, and when used in plural, all signatories to the applicable agreement, and any permitted successor or assign
thereto. 
 1.38 “Patents” means the rights and interests in and to issued patents and pending patent applications and similar government-issued
rights (e.g., utility models) protecting inventions in any country, jurisdiction or region (including inventor’s certificates and utility models), including all priority applications, international applications, provisionals, non-provisionals,
substitutions, continuations, continuations-in-part, divisionals, renewals and all patents granted thereon, and all reissues, reexaminations, extensions, confirmations, revalidations, registrations and patents of addition thereof, including patent
term extensions and supplementary protection certificates, international patent applications filed under the Patent Cooperation Treaty (PCT) and any foreign equivalents to any of the foregoing. 

1.39 “Person” means any individual, partnership, limited partnership, limited liability company, joint venture, syndicate, sole proprietorship,
company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative or governmental body. 

1.40 “Price Approval” means, in any country where a Governmental Authority authorizes reimbursement for, or approves or determines pricing for,
pharmaceutical products, receipt (or, if required to make such authorization, approval or determination effective, publication) of such reimbursement authorization or pricing approval or determination. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 6 - 

 1.41 “Primary Indication” means, with respect to a Target, the condition or disease that is most
closely associated with the diagnosis, prevention or treatment through Targeting such Target as determined by the then-current weight of reliable scientific authority, for example, as reflected in peer-reviewed publications. 

1.42 “Product” means any pharmaceutical product, medical therapy, preparation, substance, or formulation comprising or employing, in whole or in
part, a Licensed Agent. 
 1.43 “Registration Filing” means any submission to a Regulatory Authority of any appropriate regulatory application for
Regulatory Approval. 
 1.44 “Regulatory Approval” means the technical, medical and scientific licenses, registrations, authorizations and
approvals (including approvals of Approval Applications, supplements and amendments, pre- and post- approvals, and labeling approvals) of any Regulatory Authority, necessary for the research, Development, clinical testing, commercial manufacture,
distribution, marketing, promotion, offer for sale, use, import, export or sale of a pharmaceutical product in a regulatory jurisdiction, including Marketing Approval. 

1.45 “Regulatory Authority” means, with respect to a country in the Territory, any national (e.g., the FDA), supra-national (e.g., the
European Commission, the Council of the European Union, or the EMA), regional, state or local regulatory agency, department, bureau, commission, council or other Governmental Authority involved in the granting of Regulatory Approvals or Price
Approvals for pharmaceutical products in such country or countries. 
 1.46 “Target” means [...***...]. The Targets as of the Effective Date
are listed on Schedule A of the JV Agreement with an indication of [...***...]. Additional Targets may be included after the Effective Date solely by updating Schedule A of the JV Agreement in accordance with Section 7.13 of the JV
Agreement. 
 1.47 “Targeting” means editing, engineering or modulating (including by means of gene knock-out, gene tagging, gene disruption, gene
mutation, gene insertion, gene deletion, gene activation, gene silencing or gene knock-in) a Target or an Excluded Target or a Covered Target by means of hybridizing a guide RNA of the Crispr/Cas Technology to such Target or Excluded Target or
Covered Target. 
 1.48 “Technology Term” means from the Effective Date until the Company is no longer Developing Licensed Agents or Licensed
Products. 
 1.49 “Territory” means all the countries of the world. 

1.50 “Third Party” means any Person other than Bayer or CRISPR or any Affiliate of either Party. 

1.51 “Third-Party Target” means a Target that is the subject of a license or similar grant of rights pursuant to an agreement between CRISPR or one
of its Affiliates and a Third-Party; 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 7 - 

 
provided, that such Target was licensed in accordance with the procedures set forth in Section 3.7 of the JV Agreement. For the avoidance of doubt, Third-Party Targets include all Excluded
Targets. 
 The following terms shall have the meanings defined in the Section or Schedule indicated. Unless otherwise noted, the indicated
Section or Schedule refers to the appropriate Section or Schedule of this Agreement. 
  

			
	 Additional Information
	  	Section 2.4(a)
	 Agreement
	  	First Paragraph
	 Antitrust Approval
	  	Exhibit C
	 Antitrust Authority
	  	Exhibit C
	 Antitrust Condition
	  	Exhibit C
	 Antitrust Filing
	  	Exhibit C
	 Antitrust Law
	  	Exhibit C
	[...***...]	  	[...***...]
	 Bayer
	  	First Paragraph
	 Buffer Period
	  	Section 2.4(a)
	 CRISPR
	  	First Paragraph
	[...***...]	  	[...***...]
	 Company
	  	First Paragraph
	 Company Organization Documents
	  	Section 3.2(b)(i) of the JV Agreement
	 Effective Date
	  	First Paragraph
	 Excluded Covered Targets
	  	Section 3.6(i) of the JV Agreement
	 Exclusive Field Party
	  	Section 2.5(b)
	 Excluded Target
	  	Section 3.7 of the JV Agreement
	 Form License Agreement
	  	Section 2.4(a)
	 Information
	  	Section 4.1 of the Intellectual Property Management Agreement
	 Initial Budget
	  	Section 8.11(a) of the JV Agreement
	 Initial Business Plan
	  	Section 3.2(b)(xii) of the JV Agreement
	 Interests
	  	Section 3.3 of the JV Agreement
	 JV Agreement
	  	First Paragraph
	[...***...]	  	[...***...]
	 Key Results Memo
	  	Section 2.4(a)
	 Management Board
	  	Section 7.1 of the JV Agreement
	 Objective
	  	Section 3.1 of the JV Agreement
	 Offer Terms
	  	Section 2.4(a)
	 Opt-In Closing
	  	Section 2.5(h)
	 Opt-In Effective Date
	  	Section 2.6(a)
	 Opt-In Field
	  	Section 2.6(a)
	 Opt-In Package
	  	Section 2.4(a)
	 Opt-In Package Delivery Date
	  	Section 2.4(a)
	 Opt-In Transaction
	  	Section 2.5(h)
	 Optionee; Optionees
	  	First Paragraph
	 Permitted COC Transfer
	  	Section 11.3 of the JV Agreement
	 Preliminary Offer
	  	Section 2.5(f)
	 Primary Indication Field
	  	Section 2.5(c)
	 Qualifying Offer
	  	Section 2.4(a)
	 Resolution Period
	  	Section 5.1
	 Revised Offer
	  	Section 2.5(g)
	 Rolling Budget
	  	Section 8.11(b) of the JV Agreement
	 Rolling Business Plan
	  	Section 8.11(b) of the JV Agreement
	 Term
	  	Section 3.1
	 Transaction Documents
	  	Section 3.2(b) of the JV Agreement
	 Winning Offer
	  	Section 2.5(g)

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 8 - 

 ARTICLE 2 

2.1 General. The Company shall and does hereby grant each Optionee the option, as more fully set forth herein, to opt-in to a Licensed Product as more
specifically set forth below. 
 2.2 Development of Products. Unless and until an Optionee or a Third Party effects the closing of a transaction
hereunder with respect to a Licensed Product, the Company (and/or Local Operating Entities) shall have the sole right to Develop such Licensed Product in the Fields in the Territory and shall use Commercially Reasonable Efforts to undertake all
Development activities with respect to such Licensed Product in the Fields pursuant to the Initial Business Plan, the Initial Budget, the Rolling Business Plan and the Rolling Budget. For clarity, the Company (and/or Local Operating Entities) shall
be the lead regulatory party with respect to such Licensed Product in the Fields in the Territory prior to the Opt-In Effective Date with respect to such Licensed Product, and the Company (and/or Local Operating Entities) shall submit and own all
Regulatory Approvals and Registration Filings with respect to the Development of Licensed Products in the Fields in the Territory. 
 2.3 Development
Updates. Prior to a termination of this Agreement, the Company shall provide to each Optionee at least [...***...] a written high-level summary of all Development activities performed and any results achieved and progress against timelines
and budgets. The Parties hereto agree that each such summary shall be deemed Information subject to Article 4. 
 2.4 Key Results and Opt-In Package.
 
 (a) The Company shall provide to both Optionees a copy of the key results memorandum that the Company delivers to its senior
management in connection with any IND submission in an Optionee’s Field (such memorandum, the “Key Results Memo”), the IND submission (including all data, exhibits and related correspondence with the FDA), the letter from the
FDA accepting the Company’s IND submission and the other data and information reasonably necessary to evaluate the advisability of, and the preparation of, an offer (such data and information, the “Additional Information” and
together with the Key Results Memo, the 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 9 - 

 
“Opt-In Package”) within [...***...] after the date that the Company receives the FDA letter notifying it of the FDA’s acceptance of the IND submission (the last day
of this period being the “Opt-in Package Delivery Date”). The Company shall endeavor to provide each Optionee with at least [...***...] days’ advance written notice of delivery of the Opt-In Package in order to facilitate
such Optionee ensuring that it has sufficient resources to undertake a prompt and efficient review of the Opt-In Package when received. In addition, if reasonably requested by either Optionee, appropriate functional Company representatives shall
meet with both Optionees’ functional representatives in person or by phone, at times mutually agreed to, to discuss the contents of the Opt-In Package and either Optionee’s request(s) for additional information and data. For purposes of
clarity, any notice of estimated timeline for the delivery of the Opt-In Package or exchange of information described in this Section 2.4 will not impact or modify any of the other provisions, including timelines, of this Article. Following the
Company’s delivery of the Opt-In Package, either Optionee may request in writing that the Company provide specific additional background information and data (although not including raw data) to further clarify the contents of the Opt-In
Package, which information and data, the Company shall promptly make available to both Optionees to the extent that such request(s) are commercially reasonable and to the extent and in such form as such information and data are in the Company’s
possession and Control. [...***...]. 
 (b) During the [...***...]-day period after receipt of the Opt-In Package (the
“Buffer Period”), the Optionees shall have the exclusive right to review the Opt-In Package and to submit an offer to opt-in to the Licensed Product described in the Opt-In Package. Each Optionee agrees to only make offers in good
faith. In addition to the Opt-In Package, the Company shall provide, at the same time as the Opt-in Package, each Optionee with the Company’s current offer terms (“Offer Terms”) which shall include a license agreement in the
form attached hereto as Exhibit A (the “Form License Agreement”). The Offer Terms shall be adopted by the Management Board and revised as determined by approval of the Management Board. The Offer Terms shall include a
requirement that offers [...***...]. An offer from either Optionee or a Third Party which meets the Offer Terms in all material respects shall be a (“Qualifying Offer”). Each Optionee agrees to cause its designees on the
Management Board to consider and evaluate any Third Party offer in good faith and if the Management Board determines in its reasonable discretion that despite such Third Party not satisfying the Offer Terms in all material respects, that such offer
may provide the highest value to the Company, such offer shall be deemed a Qualifying Offer for all purposes hereunder. The determination of highest value shall be evaluated upon such factors as the Management Board may, in its discretion,
determine. 
 (c) At any time after the Buffer Period, either Optionee may demand that the Company seek binding Third Party offers with such
offers due within [...***...] days of the date such Third Party receives the Opt-In Package, the Offer Terms and the Form License Agreement. The Management Board shall determine in its reasonable discretion the timing and process for seeking
Third Party offers. For clarity, either Optionee may submit a Qualifying Offer during or after the Buffer Period until Third Party offers are due. 

(d) A copy of each Qualifying Offer (including a copy of the offer and all related documents) shall be delivered to the Management Board. The
Company shall promptly deliver all Qualifying Offers to each [...***...]. The Parties hereto agree that all Qualifying Offers shall be deemed Information subject to Article 4. For clarity, the decision as to whether an offer is a Qualifying
Offer shall be made by the entire Management Board in accordance with the Offer Terms. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 10 - 

 2.5 Opt-In Right. 

(a) Upon receipt of all Qualifying Offers or on the expiration of the submission time, the Management Board of the Company shall evaluate the
Qualifying Offers and determine which provides the highest value to the Company. For the avoidance of doubt, [...***...]. 
 (b) If
only [...***...] has been submitted, the Management Board shall [...***...], determine, by approval of all voting members, whether to accept or reject such Qualifying Offer. If the Qualifying Offer is [...***...]. 

(c) If both Optionees have submitted Qualifying Offers (and no Qualifying Offers from Third Parties have been received), then the Management
Board may, by approval of all voting members, determine that one of the Qualifying Offers provides the highest value to the Company. If the voting members of the Management Board cannot make such a determination, then the Qualifying Offers shall be
submitted to an arbitrator for determination in accordance with the procedures set forth in Exhibit B hereto (“Baseball Arbitration”) which of the Qualifying Offers provides the highest value to the Company [...***...].

 (d) If both Optionees and at least one Third Party make a Qualifying Offer, all voting members of the Management Board shall be entitled
to participate in the evaluation, discussion and voting regarding the determination of which Qualifying Offer provides the highest value to the Company. If the Management Board cannot agree as to which Qualifying Offer provides the highest value to
the Company, then [...***...] shall determine what Qualifying Offer [...***...] believes provides the highest value to the Company and these two Qualifying Offers shall be [...***...] to determine which of the Qualifying Offers
provides the highest value to the Company. If the Qualifying Offer finally determined to provide the highest value to the Company was the [...***...], such Qualifying Offer shall be referred to as the Winning Offer. 

(e) If only one Optionee has submitted a Qualifying Offer and at least one Third Party makes a Qualifying Offer, then the Management Board
may, by approval of the voting members in accordance with Section 2.5(j) below, determine that one of the Qualifying Offers provides the highest value to the Company. If the voting members of the Management Board cannot make such a
determination, then [...***...] shall determine what Qualifying Offer [...***...] believes provides the highest value to the Company and these [...***...]. If the Qualifying Offer finally determined to provide the highest value to
the Company is the [...***...], such Qualifying Offer shall be referred to as the Winning Offer. 
 (f) The Qualifying Offer (provided
such Qualifying Offer is not a Winning Offer) which provides the highest value to the Company (whether finally determined by the [...***...]) is referred to as (the “Preliminary Offer”). The Company shall provide each Optionee
with written notice of the Preliminary Offer, the terms thereof and the name of the party submitting such offer. The Optionees agree that the Preliminary Offer shall be deemed Information subject to Article 4. 

(g) The [...***...] shall have [...***...] Business Days after receipt of the Preliminary Offer to provide a new offer consistent
with the Offer Terms (the “Revised Offer”). Upon receipt of the Revised Offer, the Management Board shall evaluate such Revised Offer. If 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 11 - 

 
the Revised Offer is finally determined [...***...] to (i) equal or exceed the Preliminary Offer in the event that the Preliminary Offer was submitted by the other Optionee, or
(ii) exceed [...***...] in the event that the Preliminary Offer was submitted by a Third Party, then such Revised Offer shall be referred to as the Winning Offer. Otherwise, the Preliminary Offer shall be referred to as the Winning Offer.
The “Winning Offer” shall be the Qualifying Offer or Revised Offer, as the case may be, which is accepted by the Management Board or [...***...] pursuant to the provisions hereof or otherwise deemed to be the Winning Offer as
set forth in Section 2.5(b). 
 (h) The Company shall close the transaction with the party providing the Winning Offer as soon as
possible following the satisfaction of the Antitrust Condition (as defined in Exhibit C), if applicable to such transaction. Upon completion of such transaction, the license agreement substantially on the terms as set forth in the Winning
Offer entered into between the prevailing Optionee or a Third Party on one side and the Company on the other side shall become effective (an “Opt-In Transaction”) and the party providing such Winning Offer shall have completed an
“Opt-In Closing”. At the Opt-In Closing, each Optionee not a party to such transaction shall use reasonable best efforts to assist the Company in completing the applicable Opt-In Transaction. In connection with any Opt-In
Transaction, the Company and each Optionee, as applicable, shall comply with the covenants set forth in Exhibit C. If the Antitrust Condition is not satisfied, the Management Board shall determine in its discretion the process for effecting
an alternative transaction with respect to the applicable Licensed Product. 
 (i) Notwithstanding anything herein to the contrary, the
Optionees may agree to delay the Opt-In Package Delivery Date until any future date by unanimous written consent. 
 (j) Notwithstanding
anything herein to the contrary, in evaluating Qualifying Offers, all members of the Management Board shall be entitled to participate in the evaluation and discussion regarding the determination of which Qualifying Offer provides the highest value
to the Company. If only one Optionee and at least one Third Party have submitted a Qualifying Offer (Section 2.5(e) above), [...***...] regarding the Management Board’s determination of which Qualifying Offer provides the highest
value to the Company, [...***...]. 
 (k) Upon termination of the JV Agreement, the Company shall promptly proceed to prepare an
Opt-In Package for each Licensed Product for which the FDA has accepted an IND submission but which is not subject to an Opt-In Transaction yet. Such Opt-In Package(s) shall be delivered to each Optionee (but not to Third Parties). The Optionees
shall have the right, but not the obligation, to make an offer during the Buffer Period. [...***...] All other provisions of this Agreement shall apply to such offers. 

2.6 Effect of Optionee Opt-In Transaction. 

(a) Exclusive Rights. In the event that an Optionee successfully effects an Opt-In Closing, such Optionee shall, from and after the date
of consummation of the Opt-In Transaction (the “Opt-In Effective Date”), have the exclusive right to Develop, Manufacture and Commercialize Licensed Products for all indications in the Primary Indication Field which was subject to
the Opt-In Transaction in the Territory (the “Opt-In Field”), as more fully set forth in the Form License Agreement. If a Third Party successfully effects an Opt-In Closing, such Third 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 12 - 

 
Party shall, from and after the Opt-In Effective Date, have the exclusive right to Develop, Manufacture and Commercialize Licensed Products for which it opts-in for all indications in the Opt-In
Field in the Territory. No Optionee shall have the right to Develop, Manufacture, Commercialize or otherwise exploit Licensed Products in any Field during the Term unless and until it successfully effects an Opt-In Closing (unless otherwise agreed
by the Optionees in writing). 
 (b) [...***...] 

(c) [...***...] Upon receipt of a [...***...] notice, the Parties shall negotiate in good faith [...***...] for such
Licensed Product and the [...***...]. If, and to the extent, there is a dispute regarding the [...***...] for the [...***...] notice and such dispute cannot be resolved within [...***...] days from the receipt of such notice,
the Parties shall escalate such dispute in accordance with Section 5.1 of this Agreement. If the Parties cannot resolve the dispute after such escalation within the Resolution Period, either Optionee may elect to submit such matter for
determination by [...***...]. If, and to the extent, that the Optionees have a dispute regarding either (i) the extent to which the data supports a [...***...] or (ii) the Opt-In Field to which such Licensed Product
[...***...], and such dispute cannot be resolved within [...***...] from the receipt of such notice, the Parties shall escalate such dispute in accordance with Section 5.1 of this Agreement. As promptly as practicable after the
agreement of the Parties or final resolution of any dispute, the license agreement related to such Opt-in Transaction shall be amended to [...***...] therein consistent with the final agreement of the Parties or final resolution of any dispute
thereof. Notwithstanding the foregoing, the scope of the [...***...] shall be subject to any prior Opt-In Transaction or a license of the Company to a Third Party. 

(d) [...***...] Upon receipt of a [...***...] notice from Bayer, the applicable Parties shall negotiate in good faith for an
expansion of the [...***...] for such Licensed Product and the [...***...]. The [...***...] for any [...***...] shall be [...***...]. Neither Optionee shall have any obligation to grant a license upon receipt of a
[...***...]. 
 (e) Obligations. In the event that an Optionee effects an Opt-In Closing (i) the non-opting-in Optionee,
the Company and the Local Operating Entities shall not be responsible for bearing any remaining ongoing Development costs relating to the applicable Licensed Product; (ii) the opting-in Optionee shall be responsible for paying [...***...]
of all amounts owed by Company and any Local Operating Entities to Third Parties and all reasonable Out-of-Pocket Costs and FTE costs incurred by Company or any Local Operating Entity in meeting its obligations under any existing licenses, in each
case, as a result of such Optionee’s (or its Affiliate’s or Sublicensee’s) Development, Manufacture or Commercialization of any opted-in Licensed Product relating to a period of time as from the applicable Opt-in Effective Date; and
(iii) the applicable subsections of Section 3.6 of the JV Agreement (Non-Compete) shall apply. 
 ARTICLE 3 TERM; TERMINATION

 3.1 Agreement Term; Expiration. This Agreement is effective as of the Effective Date and shall terminate upon termination of the JV
Agreement (the “Term”). 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 13 - 

 3.2 Consequences of Expiration or Termination of the Agreement.  

(a) If this Agreement terminates in accordance with Section 3.1, the terms of Section 16.2 of the JV Agreement shall determine the
consequences of termination of the Agreement. 
 (b) The following provisions of this Agreement will survive any termination of this
Agreement: Article 1, Article 2.5(k) (and any provisions required to give effect to Article 2.5(k)), Article 2.6(a), Article 2.6(e), Article 3.2, Article 4, Article 5 and Article 6. 

ARTICLE 4 CONFIDENTIALITY 

Confidentiality. All Information under this Agreement shall be governed by the Confidentiality provisions specified in Article 4 of the
Intellectual Property Management Agreement and such Article 4 is hereby incorporated by reference. 
 ARTICLE 5 DISPUTE RESOLUTION

 5.1 Referral to Heads of Businesses. Unless otherwise specified in this Agreement, the Parties hereto hereby agree that to the extent
reasonably practicable and would not materially prejudice any such party, controversies or claims arising out of or relating to this Agreement or the interpretation, performance, breach, termination or validity thereof shall first be referred to the
head of Bayer AG’s Head of R&D, CRISPR’s Chief Executive Officer and the Company’s Chief Executive Officer for resolution. If these individuals are unable to agree upon a resolution within thirty (30) days after referral of
the matter to them (a “Resolution Period”), then any Party hereto may pursue any available remedy hereunder, at law or in equity. 
 5.2
Attorneys’ Fees. If any action at law or in equity (including, arbitration) is necessary to enforce or interpret the terms of this Agreement, including claims for fraud and/or fraudulent inducement, the prevailing Party shall be
entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 5.3
Jurisdiction. Unless otherwise specified in this Agreement, each Party to this Agreement, by its execution hereof, unless otherwise prohibited by applicable Law (i) hereby irrevocably submits to the exclusive jurisdiction of the
state courts of the State of New York in the Borough of Manhattan and to the United States District Court for the Southern District of New York for the purpose of any action among the Parties, (ii) hereby waives and agrees not to assert, by way
of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that any such action brought in one of the above-named courts should be dismissed on grounds of
forum non conveniens, should be transferred or removed to any court other than one of the above-named courts, or should be stayed by reason of the pendency of some other proceeding in any court other than one of the above-named courts, or that this
Agreement or the subject matter hereof may not be enforced in or by such court and (iii) to the extent that an action can be commenced in a court, agrees not to commence any such action in any court other than before one of the above-named
courts. Notwithstanding the previous sentence, a Party hereto may commence any action in a court other than the above-named courts for the purpose of enforcing an order or judgment issued by one of the above-named courts.Venue. No Party
hereto will assert that venue should properly lie in any other location within the selected jurisdiction. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 14 - 

 5.4 Specific Performance. Each of the Parties hereto acknowledges and agrees that the other Party
would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, each of the Parties hereto agrees that, without posting a
bond or other undertaking, the other Party may seek (and obtain) an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any
Action instituted in any court specified herein. An Action for specific performance as provided herein shall not preclude a Party hereto from pursuing any other remedy to which such Party may be entitled, at law or in equity, in accordance with the
terms of this Agreement. Each Party hereto further agrees that, in the event of any action for specific performance in respect of such breach or violation, it will not assert that the defense that a remedy at law would be adequate provided, however,
each Party hereto also agrees that any Party hereto can assert any other defense it may have other than the defense of adequate remedy at law. 

ARTICLE 6 ASSIGNMENT 
 6.1
Assignment. Except as permitted under the JV Agreement (including a Permitted COC Transfer complying with Article 11 of the JV Agreement) or this Agreement, (a) any of the rights, interests and obligations created herein shall not
be transferred or assigned to any Third Party and such rights and interests shall not inure to the benefit of any other Person, including any trustee in bankruptcy, receiver or other successor of either of the Parties, whether by operation of Law,
sub-license, transfer of the assets, merger, liquidation or otherwise, without the prior written consent of the other Parties, and (b) any purported or actual transfer or assignment of any such rights, interests or obligations without the prior
written consent of the other Parties is and shall be null and void ab initio; provided, however, that either of the Parties may, without consent of the other Parties, assign its respective rights and obligations under this Agreement to a successor
company of such Party as the result of an internal corporate reorganization to a wholly-owned Affiliate of such Party; provided that the assigning Party shall remain primarily liable hereunder. In addition to the requirements of the prior sentence,
if this Agreement is assigned to a Third Party by a Party, as a condition to such assignment, all other Transaction Documents to which such Party is a party shall concurrently be assigned to such Third Party and all Interests of such Party and its
Affiliates are to be transferred to such Third Party. 
 ARTICLE 7 NOTICES AND MISCELLANEOUS 

7.1 Form of Valid Notice 
  

	 	(a)	All notices or other communications provided for in this Agreement or that may otherwise be required must be in writing, clearly legible and shall be sent: 

 

	 	(i)	by an internationally recognized courier service with acknowledgment of receipt, properly addressed, and postage pre-paid; 

  

	 	(ii)	by e-mail; or 

  

	 	(iii)	by personal delivery. 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 15 - 

	 	(b)	Any notice sent by one of the means described in Section 7.1(a) will be deemed received: 

  

	 	(i)	if sent by an internationally recognized courier service, three (3) Business Days after deposit with such courier service, 

  

	 	(ii)	if sent by e-mail, when there is effective acknowledgment of receipt, or 

  

	 	(iii)	if delivered personally, when delivered. 

 7.2 Persons and Addresses 

Except as may otherwise be provided, all notices or other communications provided for in this Agreement or that a Party may otherwise be
required to give to the other Party shall be sent as provided in Section 7.1 to the following persons at the addresses stated herein or at such other address as either Party may specify by notice to the other Party given in accordance with this
Article 7: 
  

			
	To Company:	  	 VIVR LLP
 c/o Taylor Wessing

5 New Street Square
 London EC4A 3TW

Attn: Andrew Davis

		
	With a copy to:	  	 Taylor Wessing
 5 New Street Square

London EC4A 3TW
 Attn: Andrew Davis

		
	To CRISPR:	  	 CRISPR Therapeutics AG
 Aeschenvorstadt
36
 4051 Basel
 Switzerland

Attention: Chief Executive Officer and Chief Legal Officer
  

and
  

CRISPR Therapeutics Ltd.
 85 Tottenham Court Road

London W1T 4TQ
 United Kingdom

Attention: Chief Legal Officer

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 16 - 

			
	With a copy to:	  	 Goodwin Procter LLP
 53 State Street

Boston, MA 02109
 USA

Attention: Mitchell S. Bloom and Robert E. Puopolo

		
	To Bayer:	  	 Bayer Aktiengesellschaft

Kaiser-Wilhelm-Allee
 51368 Leverkusen

Germany
 Attention: Dr. Axel Bouchon and Dr. Jan
Heinemann

		
	With a copy to:	  	 Norton Rose Fulbright US LLP
 801
Pennsylvania Avenue, N.W.
 Washington, D.C. 20004-2623
 USA

Attention: Marilyn Mooney

 7.3 Miscellaneous 
  

	 	(c)	No amendment, modification or addition to any provision of this Agreement shall be valid unless the same shall be in writing and approved by the signature of each Party. 

 

	 	(d)	The terms and conditions of this Agreement shall be interpreted according to the common sense meaning intended by the Parties and in accordance with the principles of good faith and fair dealing. 

 

	 	(e)	The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state, local or foreign statute or law shall be
deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. 

  

	 	(f)	Every day commences at 12:00 a.m. and ends at 11:59 p.m. (midnight) New York time. Any reference in this Agreement to a number of days “in” which an action or notice is to be taken or given, shall be
interpreted in such way that the term commences the day after the date taken as reference and that the action or notice shall be validly taken or given at the last day. Any reference in this Agreement to a “day” or a number of
“days” without explicit qualification of “business” shall be interpreted as a reference to a calendar day or number of calendar days. If any action or notice is to be taken or given on or by a particular calendar day, and such
calendar day is not a Business Day, then such action or notice shall be deferred until, or may be taken or given on, the next Business Day. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 17 - 

	 	(g)	This Agreement shall constitute the entire agreement and understanding between the Parties and shall supersede and nullify any and all previous agreements, negotiations, commitments, undertakings and declarations
heretofore made between the Parties in respect of the subject matter of this Agreement unless expressly provided for herein or in any schedule attached hereto and any other agreement entered in connection herewith. 

 

	 	(h)	Words importing gender include all genders. 

  

	 	(i)	The division of this Agreement into articles, sections and clauses, the inclusion of a table of contents and the insertion of headings are for convenience of reference only and shall not affect the construction or
interpretation of this Agreement. 

  

	 	(j)	Each provision contained in this Agreement is distinct and severable. A declaration of invalidity, illegality or unenforceability of any provision or a part thereof by an arbitrator, a court or a tribunal of competent
jurisdiction shall not affect the validity or enforceability of any other provision of this Agreement. To the extent permitted by law, if any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or
unenforceable, (i) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (ii) the remainder of
this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such
provision, or the application thereof, in any other jurisdiction. 

  

	 	(k)	Any mistaken reference to Articles, clauses, Sections, Schedules or paragraphs of this Agreement shall be amended according to common sense and good faith rules. When a reference is made in this Agreement to an Article,
clause, Section, Schedule or paragraph, such reference will be to an Article, clause, Section, Schedule or paragraph unless otherwise indicated. 

  

	 	(l)	No waiver by any Party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach
of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. No single or partial exercise of any right, power or privilege shall preclude any other or further exercise thereof or
the exercise of any other right, power or privilege unless explicitly provided for in this Agreement. 

  

	 	(m)	Subject to the terms of and restrictions in this Agreement, the reference to any Party shall include its successors or permitted transferees that have legally acquired its rights, obligations and/or duties. This
Agreement shall be binding upon and inure solely to the benefit of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable
right, benefit or remedy of any nature whatsoever, unless otherwise specified therein. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 18 - 

	 	(n)	EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION OR LIABILITY DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF ANY SUCH ACTION OR LIABILITY, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 22.3(l). 

  

	 	(o)	This Agreement may be executed and delivered (including by means of electronic transmission, such as by electronic mail in “.pdf” form) in two or more counterparts, and by the different Parties in separate
counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 

  

	 	(p)	Whenever the words “include,” “includes” or “including” are used in this Agreement, they will be deemed to be followed by the words “without limitation.” The words
“hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement will refer to this Agreement as a whole and not to any particular provision of this Agreement. All terms used herein with
initial capital letters have the meanings ascribed to them herein and all terms defined in this Agreement will have such defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined
therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms. Any agreement, instrument or statute defined or referred to herein, or in any agreement or instrument that is referred to
herein, means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor
statutes and references to all attachments thereto and instruments incorporated therein. The use of “or” is not intended to be exclusive unless expressly indicated otherwise. References to sums of money are expressed in lawful currency of
the United States (U.S. dollars), unless the Parites otherwise agree in writing to use a different currency. 

  

	 	(q)	The Parties agree that this Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

[Signature page follows] 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 19 - 

 IN WITNESS WHEREOF, the Parties have executed this Option Agreement as of the date first set forth above.

  

									
	CRISPR	 		 	BAYER
			
	CRISPR Therapeutics AG	 		 	Bayer HealthCare LLC
					
	Signature:	  	 /s/ Rodger Novak
	 		 	Signature:	 	 /s/ Alan Stevenson

	Print Name:	  	Rodger Novak	 		 	Print Name:	 	Alan Stevenson
	Title:	  	CEO	 		 	Title:	 	Assistant Secretary
		
	Company:	 	
		
	VIVR LLP:	 	
					
	Signature:	  	 /s/ Axel Bouchon
	 		 		 	
	Print Name:	  	Axel Bouchon	 		 		 	
	Title:	  	General Manager	 		 		 	

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 20 - 

 Exhibit A 

Form License Agreement 

COMMERCIAL LICENSE AGREEMENT 

This Agreement is entered into as of [            ], 20   (the
“Effective Date”) by and between, on the one hand, VIVR LLP, a corporation organized and existing under the laws of England and Wales (“Company”), and, on the other hand,
[                    ] (“LICENSEE”), a corporation organized and existing
under the laws of [                    ]. 

RECITALS 
 WHEREAS,
the Company has developed a Licensed Product using the CRISPR/Cas Technology; and 
 WHEREAS, Licensee desires to take a license
under the Licensed Technology (as defined below) to Develop, Manufacture and Commercialize the Licensed Product; 
 NOW, THEREFORE,
in consideration of the respective covenants, representations, warranties and agreements set forth herein, the Parties hereto agree as follows: 

ARTICLE 1. 
 For purposes of this
Agreement, the following capitalized terms will have the following meanings: 
  

	 	1.1.	“Affiliate” or “Affiliates” means, with respect to any entity, any Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with
such entity; and for the purposes of this definition, “control” (and the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of such entity, directly or indirectly, whether through the ownership of voting securities or by contract or otherwise. Without limiting the generality of the foregoing, a Person shall be deemed to control another
Person if any of the following conditions is met: (a) in the case of corporate entities, direct or indirect ownership of at least fifty percent (50%) of the stock or shares having the right to vote for the election of directors, and
(b) in the case of non-corporate entities, direct or indirect ownership of at least fifty percent (50%) of the equity interest with the power to direct the management and policies of such non-corporate entities. The Parties acknowledge
that in the case of certain entities organized under the laws of certain countries outside of the United States, the maximum percentage ownership permitted by law for a foreign investor may be less than fifty percent (50%), and that in such case
such lower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the power to direct the management and policies of such entity. For the purposes of this Agreement, no Party or any of its Affiliates shall
be considered an Affiliate of the other Party or any of its Affiliates. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 21 - 

	 	1.1.	“Agreement” and “this Agreement” means this Commercial License Agreement, as may be amended or supplemented from time to time, including all Schedules attached to this Agreement. The expressions
“herein”, “hereof”, “hereto”, “hereunder” and “hereby”, as well as similar expressions, refer to this Agreement as a whole and not to any particular article, Section, schedule or other parts.

  

	 	1.2.	“Approval Application” means, with respect to a Licensed Product in a particular jurisdiction, an application for approval, license, registration or authorization necessary for the Commercialization of such
Licensed Product in such jurisdiction, including, with respect to the United States, an application for approval for such Licensed Product by the FDA, and with respect to the European Union, an application for approval for such Licensed Product by
the European Commission. 

  

	 	1.3.	“Breaching Party” means the Party that is believed by the other Party to be in material breach of this Agreement. 

  

	 	1.4.	“Business Day” means any day other than a Saturday, a Sunday or a day on which banks in
[                                        ] 1 are authorized or obligated by applicable law or executive order to close. 

  

	 	1.5.	“Calendar Quarter” means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31. 

 

	 	1.6.	“Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31. 

 

	 	1.7.	“cGMP” means the Current Good Manufacturing Practice regulations as defined by the FDA or foreign equivalent Regulatory Authority. 

 

	 	1.8.	“cGCP” means the Good Clinical Practice regulations as defined by the FDA or foreign equivalent Regulatory Authority. 

  

	 	1.9.	“cGLP” means the Good Laboratory Practice regulations as defined by the FDA or foreign equivalent Regulatory Authority. 

  

	 	1.10.	“Claims” means any claim, demand, suit, action, investigation, proceeding, governmental action or cause of action of any kind or character (in each case, whether civil, criminal, investigative or
administrative), known or unknown, under any theory, including those based on theories of contract, tort, statutory liability, strict liability, employer liability, premises liability, products liability or breach of warranty. 

 

	 	1.11.	“Clinical Trial” means a study in humans that is designed to generate data in support of an Approval Application. 

 

	1 	Locations TBD at Opt-In 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 22 - 

	 	1.12.	“Combination Product” means any product that comprises a Licensed Product and at least one of the following, either packaged together or in the same formulation: a drug delivery device or a clinically active
therapeutic, prophylactic or diagnostic ingredient or component that is not a Licensed Product. 

  

	 	1.13.	“Commercialize” or “Commercialization” means to market, promote, distribute, offer for sale, sell, have sold, import, export or otherwise commercialize a product, to conduct activities, other than,
Development and Manufacturing, in preparation for the foregoing activities, including obtaining Price Approval, and to conduct Clinical Trials and post-Marketing Approval studies. When used as a noun, “Commercialization” means any and all
activities involved in Commercializing. 

  

	 	1.14.	“Commercially Reasonable Efforts” means with respect to the efforts to be expended by any Person, with respect to any objective, reasonable, diligent and good faith efforts to accomplish such objective. With
respect to any objective relating to the Development or Commercialization of a Licensed Product, “Commercially Reasonable Efforts” means that level, caliber and quality of efforts and resources reasonably and normally used (as to Company)
by biopharmaceutical companies with adequate financing and resources, or (as to Licensee) by biopharmaceutical companies of similar size to Licensee with adequate financing and resources and as Licensee would normally use to accomplish a similar
objective under similar circumstances, as to a potential or actual product that is important to such Person’s overall strategy or objectives, taking into account, without limitation, with respect to each Licensed Product, (a) issues of
safety, efficacy, Licensed Product profile, (b) likelihood of receiving Marketing Approval for the applicable Licensed Product, (c) potential to accelerate the development and regulatory timelines for the Licensed Product,
(d) regulatory structure involved, (e) Regulatory Authority-approved labeling, (f) market potential of the Licensed Product, (g) potential benefit of the Licensed Product to patients with the relevant indication,
(h) competitiveness in the marketplace, (i) proprietary position and (j) other relevant scientific, technical and business factors deemed relevant by the applicable Party. “Commercially Reasonable Efforts” shall be
determined on a country-by-country basis and activities that are conducted in one country that have an effect on achieving the relevant objective in another country shall be considered in determining whether Commercially Reasonable Efforts have been
applied in such other countries. 

  

	 	1.15.	“Control” means with respect to any Know-How or Patent or other data, information or Materials, possession of the ability by a Party or its Affiliate(s) (whether by sole or joint ownership, license or
otherwise) to grant, without violating the terms of any agreement with a Third Party, a license, access or other right in, to or under such Know-How or Patent or other data, information or Materials. 

 

	 	1.16.	“Controlling Party” means the Party having the right under this Agreement to conduct and control (i) the Prosecution and Maintenance, (ii) challenges against validity and unenforceability or
patentability of Intellectual Property and/or (iii)

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 23 - 

	 	
any Claim or action for enforcement directed to an actual or alleged infringement or misappropriation of Intellectual Property, in all cases, as and for so long as such Party maintains such
right. 

  

	 	1.17.	“Cover,” “Covering” or “Covers” means, as to a Licensed Product and Patent, that, in the absence of a license granted under, or ownership of, such Patent, the making, using, keeping,
selling, offering for sale or importation of such Licensed Product would infringe such Patent or, as to a pending claim included in such Patent, the making, using, selling, offering for sale or importation of such Licensed Product would infringe
such Patent if such pending claim were to issue in an issued patent without modification. 

  

	 	1.18.	“CRISPR/Cas Technology” means clustered regularly interspaced short palindromic repeats (CRISPR)/CRISPR-associated (Cas) protein system that comprises (a) at least one guide RNA element that is
complementary to a Target, wherein said guide RNA element can be a guide RNA or a polynucleotide(s) encoding such guide RNA, and (b) a nuclease element, wherein said nuclease element is a Cas nuclease protein. 

 

	 	1.19.	“Develop” or “Development” means, with respect to a Licensed Product, all clinical and non-clinical research and development activities conducted for such Licensed Product, including toxicology,
pharmacology test method development and stability testing, process development, formulation development, delivery system development, quality assurance and quality control development, statistical analysis, Clinical Trials (other than
post-Marketing Approval Clinical Trials), regulatory affairs, pharmacovigilance, Clinical Trial regulatory activities and obtaining and maintaining Regulatory Approval. When used as a verb, “Develop” or “Developing” means to
engage in Development. 

  

	 	1.20.	“EMA” means the European Medicines Agency and any successor entity thereto. 

  

	 	1.21.	“European Commission” means the European Commission or any successor entity that is responsible for granting Marketing Approvals authorizing the sale of pharmaceuticals in the European Union.

  

	 	1.22.	“European Union” or “EU” means each and every country or territory that is officially part of the European Union. 

 

	 	1.23.	“Exploit” or “Exploitation” means to make, have made, import, export, use, sell, have sold, and/or offer for sale or otherwise dispose of. 

 

	 	1.24.	“FDA” means the United States Food and Drug Administration and any successor agency thereto. 

  

	 	1.25.	“Field” means [                    ]2.

  

	2 	TBD at time of Opt-In 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 24 - 

	 	1.26.	“First Commercial Sale” means, on a country-by-country basis, the first invoiced sale of Licensed Product by a Licensee, its Affiliates or Sublicensees to a non-Sublicensee Third Party in any country after
grant of a Marketing Approval in the applicable country or jurisdiction. For the avoidance of doubt, sales or supply of Licensed Product as samples, for test marketing, to patients for compassionate use, named patient use, Clinical Trials or other
similar purposes shall not be considered a First Commercial Sale. 

  

	 	1.27.	“GAAP” means United States generally accepted accounting principles, consistently applied, as in effect from time to time. 

 

	 	1.28.	“Generic Products” means, with respect to a Licensed Product in a particular country, a product on the market in such country commercialized by any Third Party that is not a Sublicensee and that did not
purchase such product in a chain of distribution that included any of Licensee or its Affiliates or Sublicensees, that (a) is approved by the applicable Regulatory Authority, under any then-existing laws and regulations in the applicable country
pertaining to approval of generic or biosimilar biologic products, as a “generic” or “biosimilar” version of such Licensed Product, which approval uses such Licensed Product as a reference product and relies on or references
information in the Approval Application for such Licensed Product or (b) is otherwise recognized by the applicable Regulatory Authority as a biosimilar or interchangeable product to such Licensed Product. 

 

	 	1.29.	“Governmental Authority” means any court, agency, authority, department, regulatory body or other instrumentality of any government or country or of any national, federal, state, provincial, regional, county,
city or other political subdivision of any such government or any supranational organization of which any such country is a member. 

  

	 	1.30.	“IFRS” means International Accounting Standards/International Financial Reporting Standards of the International Accounting Standards Board as amended from time to time. 

 

	 	1.31.	“IND” means with respect to each Licensed Product in a Field, an Investigational New Drug Application filed with the FDA with respect to such Licensed Product, as described in the FDA regulations, including
all amendments and supplements to the application, and any equivalent filing with any Regulatory Authority outside the United States. 

  

	 	1.32.	“Intellectual Property” means (i) patents (including utility, design, plant, utility model, reissues, re-examination, and patents of addition), patent applications (filed, unfiled or being prepared), records
of invention, (ii) trademarks (registered or unregistered), trademark applications, trade names, copyrights (registered or unregistered), copyright applications, mask works, service marks (registered or unregistered), service mark applications,
database rights (registered or unregistered), all together with the goodwill associated with such marks or names, (iii) trade secrets, technology, inventions, Know-How, processes and confidential 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 25 - 

	 	
and proprietary information, including any being developed (including but not limited to designs, manufacturing data, design data, test data, operational data, and formulae), whether or not
recorded in tangible form through drawings, software, reports, manuals or other tangible expressions, whether or not subject to statutory registration, anywhere, and all rights to any of the foregoing. 

 

	 	1.33.	“Know-How” means data, results, pre-clinical and clinical protocols and data from studies and Clinical Trials, chemical structures, chemical sequences, information, inventions, know-how, formulas, trade
secrets, techniques, methods, processes, procedures and developments, whether or not patentable; provided that Know-How does not include Patents claiming any of the foregoing. 

 

	 	1.34.	“Knowledge” means with respect to Company, the actual knowledge of
[                                    ]3after having made reasonable inquiries of Company personnel and advisors that would reasonably be anticipated to have knowledge of facts relating to the relevant subject matter. 

 

	 	1.35.	“Law” or “Laws” means all applicable laws, statutes, rules, regulations and other pronouncements having the effect of law of any federal, national, multinational, state, provincial, county, city or
other political subdivision, agency or other body, domestic or foreign, including any applicable rules, regulations, guidelines, or other requirements of the Regulatory Authorities that may be in effect from time to time. 

 

	 	1.36.	“Licensed Know-How” means any and all Know-How that Company Controls that is necessary or useful to Develop, Manufacture and Commercialize a Licensed Product in the Field in the Territory. 

 

	 	1.37.	“Licensed Patents” means all Patents that Company Controls that are necessary or useful to Develop, Manufacture and Commercialize a Licensed Product in the Field in the Territory. 

 

	 	1.38.	“Licensed Product” means [                    ]4.

  

	 	1.39.	“Licensed Technology” means, the Licensed Know-How and the Licensed Patents. 

  

	 	1.40.	“Major Market Countries” means [                    ]5.

  

	 	1.41.	“Manufacture” or “Manufacturing” means activities directed to making, having made, producing, manufacturing, processing, filling, finishing, packaging, labeling, quality control testing and quality
assurance release, shipping or storage of a product. 

  

	3 	TBD at Opt-In 

	4 	TBD at Opt-In 

	5 	TBD at time of Opt-In 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 26 - 

	 	1.42.	“Marketing Approval” means, with respect to a Licensed Product in a particular jurisdiction, all approvals, licenses, registrations or authorizations necessary for the Commercialization of such Licensed
Product in such jurisdiction, including, with respect to the United States, approval of an Approval Application for such Licensed Product by the FDA and with respect to the European Union, approval of an Approval Application for such Licensed
Product by the European Commission. 

  

	 	1.43.	“Materials” means all biological materials or chemical compounds provided by Company for use by Licensee pursuant to this Agreement. 

 

	 	1.44.	6“Net Sales” means the gross invoiced sales amount of Licensed Products billed by Licensee or its Affiliates or Sublicensees, in each case to independent
Third Parties, including to distributors and end-users, for the sale or other commercial disposition of Licensed Products in the Territory, less the following items as applicable to such Licensed Products to the extent actually taken or incurred
with respect to such sale (the “Permitted Deductions”) and all in accordance with standard allocation procedures, allowance methodologies and accounting methods consistently applied, in accordance with GAAP/IFRS as appropriate (except as
otherwise provided below): 

  

	 	(a)	credits or allowances for returns, rejections or recalls (due to spoilage, damage, expiration of useful life or otherwise), retroactive price reductions or billing corrections; 

 

	 	(b)	separately itemized invoiced freight, postage, shipping and insurance, handling and other transportation costs; 

  

	 	(c)	sales, use, value added and other similar taxes (excluding income taxes), tariffs, customs duties, surcharges and other governmental charges levied on the production, sale, transportation, delivery or use of the
Licensed Products in the Territory that are incurred at time of sale or are directly related to the sale; 

  

	 	(d)	any quantity, cash or other trade discounts, rebates, returns, refunds, charge backs, fees, credits or allowances (including amounts incurred in connection with government-mandated rebate and discount programs, Third
Party rebates and charge backs, and hospital buying group/group purchasing organization administration fees and payor organizations), distribution fees, sales commissions paid to Third Parties, retroactive price reductions and billing corrections;
and 

  

	 	(e)	deductions for bad debts. 

  

	6 	The specific deductions may need to be changed at the time of licensing based on changes in law, regulations, economic changes or accounting by Licensee. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 27 - 

 In the case of deductions for bad debts, the adjustment amount will be based on actual bad debts incurred and
written off as uncollectible by Licensee in a quarter, net of any recoveries of previously written off bad debts from current or prior quarters. 

Notwithstanding the foregoing, the following will not be included in Net Sales: (i) Licensee’s transfer of Licensed Product to an
Affiliate (unless such sale is a final sale), (ii) Licensed Product provided by Licensee or its Affiliate for administration to patients enrolled in clinical trials or distributed through a not-for-profit foundation at no or nominal charge to
eligible patients and (iii) commercially reasonable quantities of Licensed Product used as samples to promote additional Net Sales. 

Notwithstanding the foregoing, in the event a Licensed Product is sold as a Combination Product or together with one or more products for a
single invoiced amount (in each case, a “Combination Sale”), the Net Sales amount for the Licensed Product sold in such a Combination Sale shall be that portion of the gross amount invoiced for such Combination Sale (less all Permitted
Deductions) determined as follows: 
 Except as provided below, the Net Sales amount for a Combination Sale will equal the gross amount
invoiced for the Combination Sale, reduced by the Permitted Deductions (the “Net Combination Sale Amount”), multiplied by the fraction A/(A+B), where A is the wholesale acquisition cost charged by Licensee, its Affiliates or Sublicensees,
as applicable, in the country where such Combination Sale occurs, of the Licensed Product contained in the Combination Product if sold as a separate product in such country by Licensee, its Affiliates or Sublicensees, as applicable, and B is the
aggregate of the wholesale acquisition cost charged by Licensee, its Affiliates or Sublicensees, as applicable, in such country, of such other products or active ingredients/components, as the case may be, included in the Combination Product if sold
separately in such country by Licensee, its Affiliates or Sublicensees, as applicable. 
 In the event that Licensee, its Affiliates or
Sublicensees sell the Licensed Product included in a Combination Sale as a separate product in a country, but do not separately sell all of the other products or active ingredients/components, as the case may be, included in such Combination Sale in
such country, the calculation of Net Sales resulting from such Combination Sale shall be determined by multiplying the Net Combination Sale Amount by the fraction A/C where A is the wholesale acquisition cost charged by Licensee, its Affiliates or
its Sublicensees, as applicable, in the country where such Combination Sale occurs, of the Licensed Product contained in the Combination Product if sold as a separate product in such country by Licensee, its Affiliates or its Sublicensees, as
applicable, and C is the wholesale acquisition cost charged by Licensee, its Affiliates or its Sublicensees, as applicable, in such country for the entire Combination Sale. 

In the event that Licensee, its Affiliates or its Sublicensees do not sell the Licensed Product included in a Combination Sale as a separate
product in the country where such Combination Sale occurs, but do separately sell all of the other products or active ingredients/components, as the case may be, included in the Combination Sale in such country, the calculation of Net Sales
resulting from such Combination Sale shall be determined by multiplying the Net Combination Sale Amount by the fraction (C-D)/C, where C is the wholesale acquisition cost charged by Licensee, its Affiliates or its Sublicensees, as applicable, in the

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 28 - 

 
country where such Combination Sale occurs, of the entire Combination Sale, and D is the aggregate of the wholesale acquisition cost charged by Licensee, its Affiliates or Sublicensees, as
applicable, in such country, of such other products or active ingredients/components, as the case may be, included in the Combination Product if sold separately in such country by Licensee, its Affiliates or its Sublicensees, as applicable. 

If the calculation of Net Sales resulting from a Combination Sale in a country cannot be determined by any of the foregoing methods, the
calculation of Net Sales for such Combination Sale shall be determined between the parties in good faith negotiations. 
  

	 	1.45.	“Non-Breaching Party” means the Party that believes the other Party is in material breach of this Agreement. 

  

	 	1.46.	“Out-of-Pocket Costs” means, with respect to a Party, costs and expenses paid by such Party to Third Parties (or payable to Third Parties and accrued in accordance with GAAP or IFRS), other than Affiliates or
employees of such Party. 

  

	 	1.47.	“Party” or “Parties” means, when used in singular, any signatory to this Agreement and any permitted successor or assign thereto. 

 

	 	1.48.	“Patents” means the rights and interests in and to issued patents and pending patent applications and similar government-issued rights (e.g., utility models) protecting inventions in any country, jurisdiction
or region (including inventor’s certificates and utility models), including all priority applications, international applications, provisionals, non-provisionals, substitutions, continuations, continuations-in-part, divisionals, renewals and
all patents granted thereon, and all reissues, reexaminations, extensions, confirmations, revalidations, registrations and patents of addition thereof, including patent term extensions and supplementary protection certificates, international patent
applications filed under the Patent Cooperation Treaty (PCT) and any foreign equivalents to any of the foregoing. 

  

	 	1.49.	“Patent Costs” means the reasonable fees and expenses paid to outside legal counsel, and filing, maintenance, disbursement and other reasonable Out-of-Pocket Costs paid to Third Parties, in connection with the
Prosecution and Maintenance of Patents. 

  

	 	1.50.	“Person” means any individual, partnership, limited partnership, limited liability company, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated
association, trust, trustee, executor, administrator or other legal personal representative or governmental body. 

  

	 	1.51.	“Price Approval” means, in any country where a Governmental Authority authorizes reimbursement for, or approves or determines pricing for, pharmaceutical products, receipt (or, if required to make such
authorization, approval or determination effective, publication) of such reimbursement authorization or pricing approval or determination. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 29 - 

	 	1.52.	“Product Specific Patents” means any Patents within the Licensed Patents that only Cover one or more of the Licensed Products. 

 

	 	1.53.	“Prosecution and Maintenance” or “Prosecute and Maintain” means, with regard to a Patent, the preparing, filing, prosecuting and maintenance of such Patent, as well as handling re-examinations and
reissues with respect to such Patent, together with the conduct of interferences, the defense of oppositions and other similar proceedings with respect to the particular Patent. For clarification, Prosecution and Maintenance or Prosecute and
Maintain will not include any other enforcement actions taken with respect to a Patent. 

  

	 	1.54.	“Regulatory Approval” means the technical, medical and scientific licenses, registrations, authorizations and approvals (including approvals of Approval Applications, supplements and amendments, pre- and post-
approvals, and labeling approvals) of any Regulatory Authority, necessary for the Development, clinical testing, commercial manufacture, distribution, marketing, promotion, offer for sale, use, import, export or sale of a pharmaceutical product in a
regulatory jurisdiction, including Marketing Approval. 

  

	 	1.55.	“Regulatory Authority” means, with respect to a country in the Territory, any national (e.g., the FDA), supra-national (e.g., the European Commission, the Council of the European Union, or the EMA), regional,
state or local regulatory agency, department, bureau, commission, council or other Governmental Authority involved in the granting of Regulatory Approvals or Price Approvals for pharmaceutical products in such country or countries.

  

	 	1.56.	“Regulatory Filing” means, collectively: (a) all INDs, Approval Applications, establishment license applications, Drug Master Files, applications for designation as an “Orphan Licensed
Product(s)” under the Orphan Drug Act, for “Fast Track” status under Section 506 of the FD&C Act (21 U.S.C. § 356) or for a Special Protocol Assessment under Section 505(b)(4)(B) and (C) of the FD&C Act (21
U.S.C. § 355(b)(4)(B)) and all other similar filings (including counterparts of any of the foregoing in any country or region in the Territory); (b) any applications for Regulatory Approval or Price Approval and other applications,
filings, dossiers or similar documents submitted to a Regulatory Authority in any country for the purpose of obtaining Regulatory Approval or Price Approval from that Regulatory Authority; (c) all supplements and amendments to any of the
foregoing; and (d) all data and other information contained in, and correspondence relating to, any of the foregoing. 

  

	 	1.57.	“Residual Knowledge” means knowledge, techniques, experience and Know-How that are (a) reflected in any Information owned or Controlled by a Party and (b) retained in the unaided memory of any
authorized representative of the other Party after having access to such Information. A Person’s memory will be considered to be unaided if the Person has not intentionally memorized the Information for the purpose of retaining and subsequently
using or disclosing it. In no event, however, will Residual Knowledge include any knowledge, techniques, experience and Know-How to the extent (at any time, for such time) within the scope of any valid patent claim owned or Controlled by a Party.

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 30 - 

	 	1.58.	“Royalty Term” shall mean from the Effective Date until, on a country by country basis, the later of (i) until no Valid Claim of any issued patents in the Licensed Patents Covering a Licensed Product exists
and (ii) ten years after the First Commercial Sale of Licensed Product. 

  

	 	1.59.	“Sublicense” means, directly or indirectly, to sublicense, grant any other right with respect to, or agree not to assert, any licensed right under any Patent, Know-How or other Intellectual Property right.
When used as a noun, “Sublicense” means any agreement to Sublicense. 

  

	 	1.60.	“Sublicensee” means an Affiliate or Third Party, other than a distributor, to whom a licensee (or an Affiliate) sublicenses any of the rights granted to the Licensee during the Royalty Term of the Agreement.

  

	 	1.61.	“Target” means [                    ]7. 

 

	 	1.62.	“Territory” means all the countries of the world. 

  

	 	1.63.	“Third Party” means any Person other than Company or Licensee or any Affiliate of either Party. 

  

	 	1.64.	“United States” or “U.S.” means the fifty states of the United States of America and all of its territories and possessions and the District of Columbia. 

 

	 	1.65.	“Valid Claim” means a claim (a) of any issued, unexpired United States or foreign Patent, which will not, in the country of issuance, have been donated to the public, disclaimed, nor held invalid or
unenforceable by a court of competent jurisdiction in an unappealed or unappealable decision, or (b) of any United States or foreign patent application, which will not, in the country in question, have been cancelled, withdrawn or abandoned.
Notwithstanding the foregoing, on a country-by-country basis, a patent application pending for more than seven years, or ten years for filings in Japan, will not be considered to have any Valid Claim for purposes of this Agreement unless and until a
patent meeting the criteria set forth in clause (a) above with respect to such application issues. 

  

	 	1.66.	The following terms shall have the meanings defined in the section or schedule indicated. 

  

			
	 Term
	  	 Where defined

	Affected Party	  	Section 9.1
	Combination Sale	  	Section 1.45
	Company	  	First paragraph of this Agreement
	Company Indemnified Party	  	Section 7.1

  

	7	TBD at Opt-In 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 31 - 

			
	 Term
	  	 Where defined

	Compelled Party	  	Section 9.1
	Effective Date	  	First paragraph of this Agreement
	Indemnified Party	  	Section 7.3
	Indemnifying Party	  	Section 7.3
	Information	  	Section 9.1
	Liability	  	Section 7.1
	Licensee	  	First paragraph of this Agreement
	Licensee Indemnified Party	  	Section 7.2
	Net Combination Sale Amount	  	Section 1.45
	Patent Challenge	  	Section 8.2.2
	Patent Coordinator	  	Section 5.2.2
	Permitted Deductions	  	Section 1.45
	Product Development and Commercialization Plan	  	Section 3.3
	Requesting Party	  	Section 9.4
	Reviewing Party	  	Section 9.4
	Safety Data Exchange Agreement	  	Section 3.5.4
	Specific Performance Milestone Event	  	Section 3.2.1
	VAT	  	Section 4.3.4

 ARTICLE 2. 

LICENSE GRANT 
  

	 	2.1	License Grant. 

  

	 	2.1.1	License. Company hereby grants to Licensee an irrevocable (except as specified in Section 8.3.1(c)), royalty-bearing, worldwide, sublicenseable, license in and to the Licensed Technology, which right
shall be exclusive, to make, have made, use, sell, keep, offer for sale and import Licensed Products in the Field in the Territory. 

  

	 	2.1.2	Sublicenses. Subject to the terms of this Agreement, Licensee may grant sublicenses through multiple tiers of sublicense to one or more Sublicensees of any and all rights granted to Licensee by Company
hereunder. Each such Sublicense will be subject and subordinate to, and consistent with, the terms and conditions of this Agreement and will require such Sublicensee to comply with all applicable terms of this Agreement and any terms of a Third
Party agreement with Company to the extent Licensed Technology is covered by such Third Party agreement. Notwithstanding the grant of any Sublicense, Licensee shall remain primarily liable to Company for the performance of all of Company’s
obligations under, and Company’s compliance with all provisions of, this Agreement. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 32 - 

	 	2.1.3	License Conditions; Limitations. All rights and obligation hereunder are subject to and limited by all applicable terms and conditions set forth in any terms of a Third Party agreement with Company to the
extent Licensed Technology is covered by such Third Party agreement. 

  

	 	2.2	Technology Transfer. 

  

	 	2.2.1	Know-How. No later than 30 days after the Effective Date, Company shall make available and deliver to Licensee all documented Licensed Know-How in Licensee’s possession that has not previously
been provided hereunder. To assist with the transfer of such Licensed Know-How, Company will make its personnel reasonably available to Licensee during normal business hours to transfer such Know-How under this Section 2.2.1. 

 

	 	2.2.2	Transfer of Manufacturing Know-How and Materials. Without limiting Company’s obligations under Section 2.2.1, within 30 days following the Effective Date, and thereafter, promptly following
Licensee’s request, Company will, or will cause the applicable Third Party (including any contract manufacturing organization engaged by Company to Manufacture the Licensed Product) to, transfer to Licensee (a) all Licensed Know-How that
is necessary or useful to enable the Manufacture of the Licensed Product, and not previously transferred to Licensee under this Agreement, by providing copies or samples of relevant documentation, Materials and other embodiments of such Licensed
Know-How, and by making available its, or the applicable Third Party’s, qualified technical personnel on a reasonable basis to consult with Licensee with respect to such Licensed Know-How, (b) any Materials used by Company or its
Affiliates or subcontractors in the Manufacture of such Licensed Product; (c) any contracts between Company and a Third Party that relate solely to the Manufacture of the Licensed Product; (d) list of all suppliers and contact information
for any suppliers of raw material to Manufacture the Licensed Product. 

  

	 	2.2.3	Transfer of Regulatory Filings and Regulatory Approvals. Company will, and hereby does, assign to Licensee any and all Regulatory Filings, Regulatory Approvals or any other rights or permissions granted by
any Regulatory Authority to Licensee related to the Licensed Product that exist on the Effective Date and to the extent 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 33 - 

	 	
they can be transferred. If any Regulatory Filings or Regulatory Approvals cannot be transferred Company will and does hereby grant the right to Licensee to reference any such Regulatory Filings
and Regulatory Approvals. Further, Company will take all actions and provide all assistance reasonably requested by Licensee to effect the assignments in this Section 2.2.3. To the extent such Regulatory Filings, Regulatory Approvals or any
other rights or permissions granted by any Regulatory Authority cannot be transferred in a reasonable time, Company will maintain them for the benefit of the Licensee. 

 

	 	2.3	No Implied Licenses. All rights in and to Licensed Technology not expressly licensed to Licensee under this Agreement are hereby retained by Company. Except as expressly provided in this Agreement, Company
will not be deemed by estoppel or implication to have granted Licensee any licenses or other right with respect to any intellectual property. 

ARTICLE 3. 
 DEVELOPMENT,
MANUFACTURING AND COMMERCIALIZATION 
  

	 	3.1	Responsibility. Licensee shall have sole responsibility for Developing, Manufacturing and Commercializing Licensed Products, at its sole cost and expense, including, but not limited to,
responsibility for one hundred percent (100%) of all amounts owed by Company to Third Parties as the result of Licensee’s (or its Affiliate’s or Sublicensee’s) Development, Manufacture or Commercialization of the Licensed
Product. If any amounts are owed to Third Parties as described hereunder, but such amounts are not solely attributable to the Development, Manufacture or Commercialization of the Licensed Product by Licensee, Licensee shall not be responsible for
one hundred percent (100%) of all amounts owed by Company to such Third Parties if Company or other contractors or licensees of Company also utilize the relevant Third Party assets or intellectual property for which the amounts are due. In such
event, Licensee’s share of the amounts owed to Third Parties shall be reduced pro rata depending on the number of other users. By way of example, if the Third Party assets are utilized by Licensee and Company Licensee’s share of the costs
shall be fifty percent (50%), and if Company utilizes the Third Party assets and appoints another licensee that utilizes the assets, Licensee’s share shall be thirty three and one third percent (33.33%). 

 

	 	3.2	Licensee Diligence. 

  

	 	3.2.1	Development Diligence. Licensee (acting directly or through one or more Affiliates or Sublicensees) will use Commercially Reasonable Efforts to Develop and obtain at least one Marketing Approval for the
Licensed Product in each [Major 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 34 - 

	 	
Market Country].8 In addition, Licensee will use Commercially Reasonable Efforts to achieve the specific performance milestone events set
forth in the table below (“Specific Performance Milestone Events”) within the timeline stated below; provided, however, if regulatory, Development or other significant issues arise that are outside of Licensee’s reasonable control
that impede achievement of any such Specific Performance Milestone Event on the stated timeline, the Parties will meet and discuss in good faith and revise the date by which the applicable Specific Performance Milestone Event will be achieved.

  

			
	 Specific Performance Milestone
Events
	  	 Expected Milestone Date

	 	  	 
	 	  	 
	 	  	 
	 	  	 
	 	  	 
	 	  	 

  

	 	3.2.2	Commercial Diligence. Licensee (acting directly or through one or more Affiliates or Sublicensees) will use Commercially Reasonable Efforts to Commercialize, including seeking Price Approval on appropriate
terms, the Licensed Product in each Major Market Country where Licensee or its designated Affiliates or Sublicensees receive Marketing Approval for such Licensed Product. 

 

	 	3.2.3	Material Breach. Licensee’s failure to meet its diligence obligations under this Section 3.2 shall be deemed a material breach and subject to termination under Section 8.2.2.

  

	 	3.3	Product Development and Commercialization Plan. Attached as Schedule 3.3 is an initial Product Development and Commercialization Plan9 prepared by
Licensee. The Product Development and Commercialization plan sets forth in reasonable detail (which detail shall be at least sufficient for Company to evaluate 

 

	8 	TBD at Opt-In. 

	9 	TBD at Opt-In. 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 35 - 

	 	
Licensee’s compliance with its obligations under this Agreement) Licensee’s plans for (a) the Development of the Licensed Product through Clinical Trials, (b) the Development of each
Licensed Product through Marketing Approval and (c) starting upon Marketing Approval for a Licensed Product and continuing thereafter until the expiration of the applicable Royalty Term, Commercialization for the Licensed Product, as appropriate for
the stage of the Licensed Product, including a launch plan for each Major Market Country (a “Product Development and Commercialization Plan”). Licensee will update such plan no less than once per Calendar Year so that the Product
Development and Commercialization Plan is an accurate reflection of Licensee’s then-current plans with respect to the Development and Commercialization of the Licensed Product and Licensee will provide such updates to Company for its review.

  

	 	3.4	Applicable Laws. Each Party will, and will require its Affiliates, Sublicensees and subcontractors to, comply with all applicable Law in its and their Development, Manufacture and Commercialization of the
Licensed Product, including where appropriate cGMP, cGCP and cGLP (or similar standards). 

  

	 	3.5	Regulatory Matters; Safety Data Exchange Agreement. 

  

	 	3.5.1	Responsibilities. Licensee or its designated Affiliates and Sublicensees will have the sole authority to prepare and file Regulatory Filings, each in its own name, and applications for Regulatory Approval
and Price Approval for the Licensed Products, and will have the sole responsibility for communicating with any Regulatory Authority both prior to and following Regulatory Approval and Price Approval, including all communications and decisions with
respect to (a) pricing of Licensed Products and (b) the negotiation of Licensed Product pricing with Regulatory Authorities and other Third Parties. 

  

	 	3.5.2	Class Claims. To the extent Licensee intends to make any claims in a Licensed Product label or Regulatory Filing that are class generic to CRISPR/Cas Technology, or any other Licensed Technology included
in a Licensed Product, Licensee will provide such claims and Regulatory Filings to Company in advance and will consider in good faith any proposals and comments made by Company. 

 

	 	3.5.3	Ownership. Ownership of all right, title and interest in and to any and all Regulatory Filings, Regulatory Approvals and Price Approvals directed to a Licensed Product in each country of the Territory will
be held in the name of Licensee, its Affiliate, designee or Sublicensee. 

  

	 	3.5.4	Pharmacovigilance. The Parties will negotiate and enter into a separate safety data exchange agreement (a “Safety Data 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 36 - 

	 	
Exchange Agreement”) within three (3) months of the Effective Date. The Safety Data Exchange Agreement will set forth guidelines and procedures for the receipt, investigation,
recording, review, communication, reporting and exchange between the Parties of adverse event reports (which, for purposes of information exchange between the Parties, will include adverse events and serious adverse events, and any other information
concerning the safety of the Licensed Products and, with respect to information provided by Company, concerning the safety of products containing a gene editing system (including any system employing CRISPR/CAS Technology) or a product made using
such gene editing system). 

  

	 	3.6	Commercialization. 

  

	 	3.6.1	General. Licensee will have sole and exclusive control over all matters relating to the Commercialization of Licensed Products subject to compliance with this Agreement and applicable Law.

  

	 	3.6.2	Branding. Licensee or its designated Affiliates or Sublicensees will select and own all trademarks used in connection with the Commercialization of the Licensed Products. The Company will not use nor seek
to register, anywhere in the world, any trademark that is confusingly similar to any trademark used by or on behalf of the Licensee, its Affiliates or Sublicensees in connection with the Licensed Product. Any existing trademark that is owned by the
Company and that is specific to the Licensed Product shall be licensed or assigned to Licensee promptly after the Effective Date. 

  

	 	3.7	Manufacturing. Licensee will have the exclusive right to Manufacture and supply the Licensed Product itself or through one or more Affiliates or Third Parties selected by Licensee in its reasonable
discretion. 

 ARTICLE 4. 

FINANCIAL PROVISIONS10 

 

	 	4.1	Milestone Payments. 

  

	 	4.1.1	Development Milestones. Licensee will pay Company the milestone payments set forth in this Section 4.1.1 with respect to the Licensed Product, whether such milestone event is achieved by Licensee, its
respective Affiliates or any Sublicensees. Each milestone payment set forth below, is 

  

	10 	The specific payments and conditions of payment as specified in this Article may need to be changed at the time of licensing based on changes in law, regulations or accounting by Licensee. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 37 - 

	 	
payable only once per Licensed Product, regardless of the number of times the Licensed Product achieves such milestone event. 

 

									
	 Milestone

Number
	  	Milestone Event	 	  	Milestone Payment	 
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			

  

	 	4.1.2	Commercial Milestones. Licensee will pay the Company the milestone payments set forth in this Section 4.1.2, whether such milestone event is achieved by Licensee or its Affiliates or any of their
Sublicensees. Each milestone payment set forth below, is payable only once per Licensed Product, regardless of the number of times the Licensed Product achieves such milestone event. 

 

									
	 Milestone

Number
	  	Milestone Event	 	  	Milestone Payment	 
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 38 - 

	 	4.1.3	Notice; Payment; Skipped Milestones. Licensee will provide Company with written notice upon the achievement of each of the milestone events set forth in Section 4.1.1 or 4.1.2, such notice to be
provided, (a) with respect to milestones under Section 4.1.1, within 30 days after achievement, and (b) with respect to milestones under Section 4.1.2, on or prior to the date of delivery of the royalty report in accordance
with Section 4.2.5 for the Calendar Quarter in which such milestone is first achieved. Following receipt of such notice, Company will promptly invoice Licensee for the applicable milestone. The milestones numbered
[                    ] as set forth in Section 4.1.1 are intended to be successive; if the Licensed Product is not required to undergo the event
associated with any such milestone event, such skipped milestone will be deemed to have been achieved upon the achievement by such Licensed Product of the next successive milestone event. Payment for any such skipped milestone that is owed in
accordance with the provisions of the foregoing sentence with respect to a given Licensed Product will be due concurrently with the payment for the next successive milestone event by such Licensed Product, it being agreed that if a Licensed Product
is not required to undergo the milestone numbered [                    ] the corresponding payment will be made upon the first to occur of the
milestones numbered [                    ]. 

  

	 	4.2	Royalties. 

  

	 	4.2.1	Royalty Rates. Subject to Sections 4.2.3 and 4.2.4, Licensee will pay Company royalties based on the aggregate Net Sales of 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 39 - 

	 	
each Licensed Product sold by Licensee, its Affiliates or Sublicensees in the Field in the Territory during a Calendar Year at the rates set forth in the table below. The obligation to pay
royalties will be imposed only once with respect to the same unit of a Licensed Product. 

  

					
	 Product
	  	Royalty Rate	 
		  			
		  			
		  			
		  			

  

	 	4.2.2	Royalty Term. Licensee will pay royalties to Company under this Section 4.2 on a Licensed Product-by-Licensed Product and a country-by-country basis during the Royalty Term. Upon the expiration of the
Royalty Term for the Licensed Product in a given country, the licenses granted herein with respect to such Licensed Product will become fully-paid, perpetual and irrevocable. 

 

	 	4.2.3	Reduction for Generic Competition. If one or more Generic Products with respect to the Licensed Product is marketed and sold in a given country by one or more Third Parties during any Calendar Quarter
during the Royalty Term and the number of units of such Licensed Product sold during such Calendar Quarter have decreased by 50% or more relative to average quarterly sales (by unit) of such Licensed Product in such country during the four Calendar
Quarters immediately prior to the Calendar Quarter during which such Generic Product(s) was first marketed and sold in such country, then the royalty rate for such Licensed Product in such country, on a country-by-country basis, will thereafter be
reduced to 50% of the applicable royalty rate set forth in Section 4.2.1 for so long as such reduction in units sold persists. 

  

	 	4.2.4	Third Party Licenses. If Licensee reasonably believes that it must enter an agreement with a Third Party and pay a royalty to avoid Patent infringement, then Licensee may deduct from the royalties payable
to Company under this Section 4.2 50% of any royalties paid by Licensee to such Third Party; provided, however, that in no event will the royalties that would otherwise 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 40 - 

	 	
be payable to Company, as reduced by Section 4.2.3 be reduced by more than 50% in any given Calendar Quarter as a result of any deduction under this Section 4.2.4; and provided
further, that Licensee will be entitled to carry forward to subsequent Calendar Quarters any amounts with respect to which Licensee would have been entitled to make a deduction pursuant to this Section 4.2.4 but is unable to take such
deduction pursuant to the first proviso in this Section 4.2.4. 

  

	 	4.2.5	Royalty Reports. During the Royalty Term, following the First Commercial Sale of a Licensed Product giving rise to Net Sales, within 45 days after the end of each Calendar Quarter, Licensee will
deliver a report to Company specifying on a Licensed Product-by-Licensed Product and country-by-country basis: (a) gross sales in the relevant Calendar Quarter, (b) Net Sales in the relevant Calendar Quarter; (c) a summary of the
then-current exchange rate methodology then in use by Licensee, and (d) royalties payable on such Net Sales. Following receipt of such report, Company shall promptly invoice Licensee for all royalty payments due under this Section 4.2 for
each Calendar Quarter. 

  

	 	4.3	Payment Method; Currency. 

  

	 	4.3.1	Payments will only be made after receipt of a properly itemized invoice. All invoices shall be paid within 30 days from the date of receipt =. Each invoice for payments shall be sent to:
[                    ], mentioning such other information required and as may be amended and/or provided by Licensee to Company from time to time.

  

	 	4.3.2	All payments under this Agreement will be paid in
11[                    ], by wire transfer to the following bank account, or to such other bank
account specified in writing by Company to Licensee at least 15 Business Days prior to due date of payment: 

  

					
		 	Account Holder:	 	[                    ]
		 	Account No.:	 	[                    ]
		 	Bank Code:	 	[                    ]
		 	SWIFT (BIC):	 	[                    ]
		 	IBAN:	 	[                    ]

  

	 	4.3.3	If any amounts that are relevant to the determination of amounts to be paid under this Agreement or any calculations to be performed under this Agreement are denoted in a currency other than 12[                    ], then such amounts will be converted to their 

 

	11 	TBD at time of license 

	12 	TBD at time of license 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 41 - 

	 	
13[                    ] equivalent using
Licensee’s then-current standard procedures and methodology, including its then-current standard exchange rate methodology for the translation of foreign currency expenses into
14[                    ]or, in the case of Sublicensees, such similar methodology, consistently
applied. 

  

	 	4.3.4	All payments are exclusive of Value Added Tax (“VAT”). If VAT is legally owed by the Company, VAT applies and will be invoiced additionally by the Company and has to be paid by the Licensee after receipt of a
correct invoice, which meets all legal requirements according to the applicable VAT-law. 

  

	 	4.3.5	All payments not made by ten (10) days after the due dates set out in this Agreement shall be subject to late payment interest at the one (1) month [currency] LIBOR rate, currently published on Reuters screen
<LIBOR01>, fixed two Business Days prior to the due date and reset to the prevailing one (1) month LIBOR rate at monthly intervals thereafter, plus a premium of one (1) percentage point (or the maximum applicable legal rate of
interest if lower). Interest shall be calculated based on the actual number of days in the interest period divided by 360 and shall be calculated from the due date (inclusive) until the date of payment (exclusive). 

 

	 	4.4	Withholding Tax. The Parties agree to cooperate with one another and use reasonable efforts to reduce or eliminate tax withholding or similar obligations in respect of royalties, milestone payments, and
other payments made by Licensee to the Company under this Agreement. Any Party required to make a payment under this Agreement shall be entitled to deduct and withhold from the amount payable the tax for which the paying Party is liable under any
provision of applicable tax law. No deduction shall be made or a reduced amount shall be deducted if the paying Party is timely furnished by payee with all documents required for the application of a zero or reduced rate according to any applicable
bilateral income tax treaty. Any withheld tax shall be treated as having been paid by paying Party to payee for all purposes of this Agreement, provided that each Party shall provide the other with reasonable assistance to enable the recovery, as
permitted by applicable Laws, of such withholding taxes, such recovery to be for the benefit of the Party bearing such withholding tax. Paying Party shall timely forward the tax receipts certifying the payments of withholding tax on behalf of payee.
Any assignment of this Agreement by paying Party which causes a higher withholding tax rate than would be applicable without the assignment shall be borne by paying Party. If paying Party fails to deduct withholding tax but is still required by
applicable tax law to pay withholding tax on account of payee to the tax authorities, payee shall assist paying Party with regard to all procedures required in order to obtain reimbursement by tax authorities or, in case tax authorities will not
reimburse withholding tax to paying Party, payee will immediately refund the tax amount. 

  

	13 	TBD at time of license 

	14 	TBD at time of license 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 42 - 

	 	4.5	Records. During the Royalty Term and for one year thereafter, Licensee will keep and maintain accurate and complete records regarding Net Sales during the three preceding Calendar Years. Upon reasonable
prior written notice from the Company, Licensee will permit an independent certified public accounting firm of internationally recognized standing, selected by the Company and reasonably acceptable to the Licensee, to examine the relevant books and
records of Licensee and its Affiliates, as may be reasonably necessary to verify the royalty reports submitted by Licensee in accordance with Section 4.2.5. An examination by the Company under this Section 4.5 will occur not more than once
in any Calendar Year and will be limited to the pertinent books and records for any Calendar Year ending not more than 36 months before the date of the request and the audit shall not cover any time period previously audited. The accounting
firm will be provided access to such books and records at Licensee’s facility or facilities where such books and records are normally kept and such examination will be conducted during Licensee’s normal business hours. Licensee may require
the accounting firm to sign a customary non-disclosure agreement before providing the accounting firm access to its facilities or records. Upon completion of the audit, the accounting firm will provide both the Company and Licensee a written report
disclosing whether the reports submitted by Licensee are correct or incorrect and the specific details concerning any discrepancies. No other information will be provided to the Company. If the report or information submitted by Licensee results in
an overpayment, Company will promptly pay such overpaid amount to the Licensee. If the report or information submitted by Licensee results in an underpayment, Licensee will promptly pay such amount to the Company, and, if, as a result of such
inaccurate report or information, such underpayment amount is more than five percent of the amount that was owed Licensee will reimburse the Company for the reasonable expense incurred by the Company in connection with the audit. 

ARTICLE 5. 
 INTELLECTUAL
PROPERTY MATTERS 
  

	 	5.1	Ownership. 

  

	 	5.1.1	Licensed Patents. Subject to the rights and licenses granted herein, the Licensed Patents shall be owned by the Company. 

 

	 	5.2	IP Prosecution and Maintenance. 

  

	 	5.2.1	Company shall have the first right (but not the obligation) to be the Controlling Party for all aspects of the Prosecution and Maintenance with respect to the Licensed Patents. Company will use Commercially Reasonable
Efforts to Prosecute and Maintain such Licensed Patents. Company will notify Licensee 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 43 - 

	 	
of all material developments and all steps to be taken in connection with the Prosecution and Maintenance of the Licensed Patents and provide Licensee with copies of all material filings or
responses to be made to the patent authorities with respect to the Licensed Patents and all other material submissions and correspondence with any patent authorities regarding the Licensed Patents in sufficient time to allow for review and comment
by Licensee. Licensee will offer its comments or proposals, if any, promptly, and Company will consider in good faith such comments and proposals. Company shall not abandon any Product Specific Patents without providing prior written notice to
Licensee of Company’s intent to abandon a Product Specific Patent. Upon receipt of such notice, Licensee shall have the right to take over Prosecution and Maintenance of the applicable Product Specific Patent. For any Patents which Licensee
takes over Prosecution and Maintenance, Company shall assign such Patents to Licensee and Licensee shall not owe any further royalties associated with such Patents. 

 

	 	5.2.2	Patent Coordinators. Each Party will appoint a patent coordinator reasonably acceptable to the other Party (each, a “Patent Coordinator”) to serve as such Party’s primary liaison with
the other Party on matters relating to the Prosecution and Maintenance and enforcement of Licensed Patents. The Patent Coordinators will meet in person or by means of telephone or video conference at least once each Calendar Quarter during the
Royalty Term of this Agreement. Each Party will provide the other Party written notice of its Patent Coordinator and may replace its Patent Coordinator at any time by providing notice in writing to the other Party. 

 

	 	5.2.3	Patent Costs. As between the Parties, Patent Costs arising after the Effective Date for Licensed Patents will be borne by the Licensee unless such rights are also licensed to a Third Party, then Licensee
shall pay a pro rata share with such Third Parties. 

  

	 	5.2.4	Defense of Claims Brought by Third Parties. If a Third Party initiates a proceeding against a Party claiming a Patent owned by or licensed to such Third Party is infringed by the Development, Manufacture
or Commercialization of a Licensed Product, each Party that is named as a defendant in such proceeding will have the right to defend itself in such proceeding. The other Party will reasonably assist the defending Party in defending such proceeding
and cooperate in any such litigation at the request and expense of the defending Party. The defending Party will provide the other Party with 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 44 - 

	 	
prompt written notice of the commencement of any such proceeding and will keep the other Party apprised of the progress of such proceeding and will promptly furnish the other Party with a copy of
each communication relating to the alleged infringement that is received by such Party. If all Parties are named as defendants in any proceeding, all Parties may defend such proceeding and the Parties will reasonably cooperate with respect to such
defense. 

  

	 	5.3	Duty to Notify of Infringement. If a Party learns of infringement, unauthorized use, misappropriation or threatened infringement by a Third Party, or any declaratory judgment action or any other action or
proceeding alleging invalidity, unenforceability or non-infringement with respect to any Licensed Patents, such Party will promptly notify the other Party in writing and will provide the other Party with available information regarding such
infringement. 

  

	 	5.3.1	Except as otherwise specifically provided herein, as between the Parties, Company shall have the sole right (but not the obligation) at its own expense to be the Controlling Party to bring any action for enforcement
directed to an actual or alleged infringement or misappropriation of any Licensed Patents. 

  

	 	5.3.2	Licensee shall have the first right (but not the obligation) at its own expense to be the Controlling Party to bring any action for enforcement directed to an actual or alleged infringement or misappropriation of any
Product Specific Patents within the Field. If Licensee declines to bring any action under this Section 5.3.2, Company shall have the right (but not the obligation), at its own expense, to be Controlling Party to bring any action for enforcement
directed to an actual or alleged infringement or misappropriation of any such Product Specific Patents. 

  

	 	5.3.3	Joinder. 

  

	 	(a)	If a Party initiates a proceeding in accordance with this Section 5.3 the other Party agrees to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance and authority to file
and prosecute the proceeding, provided that the Party bringing suit agrees to reimburse the other Party for all reasonable Out-of-Pocket Costs, damages and expenses (excluding reasonable attorneys’ fees unless the Parties are unable to utilize
the same legal counsel due to an ethical conflict), that it may incur in connection with such assistance or joinder, including any award of costs against it. Any costs, expenses or damages hereunder to be reimbursed by one Party to the other shall
be paid by the owing Party within thirty (30) Business Days of receipt of an invoice therefor, including evidence that such costs, expenses or damages have been incurred. The Parties agree to use Commercially Reasonable Efforts to cause Third
Parties to be joined as a party plaintiff where necessary. 

  
 [***] =
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 406 of the Securities Act of 1933, as amended. 

  
 - 45 - 

	 	(b)	If one Party initiates a proceeding in accordance with this Section 5.3, the other Party may join such proceeding as a party plaintiff where necessary for such other Party to seek lost profits with respect to such
infringement. 

  

	 	5.3.4	Share of Recoveries. Any damages or other monetary awards recovered with respect to a proceeding brought pursuant to this Section 5.3 will be shared as follows: 

 

	 	(a)	First, an amount shall be remitted to the Parties to reimburse their respective reasonable costs and expenses (including reasonable attorneys’ fees and costs) incurred in enforcing the claim; provided, however, if
the amount recovered is insufficient to fully reimburse both Parties, the amount shall be applied pro-rata (based on the amounts paid by the Party in such action or suit) for their respective costs and expenses (including reasonable attorneys’
fees and costs); 

  

	 	(b)	To the extent the damages are a result of the misappropriation or infringement of Licensee’s licensed rights or Intellectual Property licensed under this Agreement, then such remaining damages shall belong to
Licensee and, if owed, it shall pay the royalty specified in Section 4.2 to Company; and to the extent the damages are the result of misappropriation or infringement of Company’s Intellectual Property rights and are not the a result of the
misappropriation or infringement of Licensee’s rights or Intellectual Property licensed under this Agreement, then such remaining damages shall belong to Company. 

 

	 	5.3.5	Patent Listing. As between the Parties, Licensee will have the sole right, but not the obligation, to submit to all applicable Regulatory Authorities patent information pertaining to each applicable
Licensed Product pursuant to 21 U.S.C. § 355(b)(1)(G) (or any amendment or successor statute thereto), any similar statutory or regulatory requirement enacted in the future regarding biologic products, or any similar statutory or regulatory
requirement in any non-U.S. country or other regulatory jurisdiction. 

  

	 	5.3.6	Patent Term Extension. The Parties will cooperate with each other in obtaining patent term restoration in any country in the Territory under any statute or regulation equivalent or similar to 35 U.S.C.
§ 156, where applicable to a Licensed Product. Licensee will decide as to which patents from among the Licensed Patents will be extended (including, without limitation, by filing supplementary protection certificates and any other extensions
that are now or in the future become available) if any. Company and Licensee will abide by 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 46 - 

	 	
Licensee’s determination and cooperate, as reasonably requested by Company, in connection with the foregoing (including by providing appropriate information and executing appropriate
documents). 

 ARTICLE 6. 

REPRESENTATIONS AND WARRANTIES 
  

	 	6.1	Representations and Warranties of Licensee. Licensee hereby represents and warrants to Company, as of the Effective Date, that: 

 

	 	6.1.1	Licensee is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization and has full corporate power and authority to enter into this Agreement and to
carry out the provisions hereof; 

  

	 	6.1.2	Licensee (a) has the requisite power and authority and the legal right to enter into this Agreement and to perform its obligations hereunder and (b) has taken all requisite action on its part to authorize the
execution and delivery of this Agreement and the performance of its obligations hereunder; 

  

	 	6.1.3	Licensee has the requisite resources and expertise to perform its obligations hereunder; 

  

	 	6.1.4	the execution, delivery and performance of this Agreement by Licensee will not constitute a default under or conflict with any agreement, instrument or understanding, oral or written, to which either entity is a party
or by which either entity is bound, or violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over Licensee; 

 

	 	6.1.5	Licensee has obtained all necessary consents, approvals and authorizations of all Governmental Authorities and other Persons or entities required to be obtained by it in connection with the execution and delivery of
this Agreement; and 

  

	 	6.1.6	Licensee will not employ (and, to Licensee’s knowledge, will not use a contractor or consultant that has employed) any Person debarred by the FDA (or subject to a similar sanction of EMA or foreign equivalent), or
any Person that is the subject of an FDA debarment investigation or proceeding (or similar proceeding of EMA or foreign equivalent), in any capacity in connection with the Licensed Patents, Licensed Products. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 47 - 

	 	6.2	Representations and Warranties of Company15. Company hereby represents and warrants to Licensee, as of the Effective Date, that, except as otherwise set
forth on Schedule 6.2: 

  

	 	6.2.1	Company is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization and has full corporate power and authority to enter into this Agreement and to
carry out the provisions hereof; 

  

	 	6.2.2	Company has the requisite power and authority and the legal right to enter into this Agreement and to perform its obligations hereunder and (b) has taken all requisite action on its part to authorize the
execution and delivery of this Agreement and the performance of its obligations hereunder; 

  

	 	6.2.3	This Agreement has been duly executed and delivered on behalf of Company, and constitutes a legal, valid and binding obligation, enforceable against it in accordance with the terms hereof; 

 

	 	6.2.4	Company has obtained all necessary consents, approvals and authorizations of all Governmental Authorities and other Persons or entities required to be obtained by Company in connection with the execution and delivery of
this Agreement; 

  

	 	6.2.5	The execution, delivery and performance of this Agreement by Company will not constitute a default under or conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which
it is bound, or violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it; 

  

	 	6.2.6	Schedule 6.2.6 sets forth a true, correct and complete list of all Licensed Patents as of the Effective Date and indicates whether such Patent is owned by Company or licensed by Company and if so, identifies the
licensor or sublicensor from which the Patent is licensed and whether such Licensed Patent is a Product Specific Patent and Company will update such Schedule 6.2.6 when any new Patents are added to the Licensed Technology; 

 

	 	6.2.7	Except as specified in Schedule 6.2.7, Company is the sole and exclusive owner of the Licensed Patents, all of which are free and clear 

 

	15 	If Licensee is a party other than CRISPR or Bayer, Agreement to contain the following: During the term of this Agreement, until such time, if any the Licensed Product is no longer being clinically Developed,
Commercialized or otherwise Exploited by or on behalf of Licensee, Company and its Affiliates shall not with or through a Third Party, Develop, Commercialize or otherwise Exploit any product comprising CRISPR/Cas Technology Targeting the same Target
that is Targeted by such Licensed Product in the Field in any part of the Territory. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 48 - 

	 	
of any liens, charges and encumbrances, and, as of the Effective Date and except as specified in Schedule 6.2.7, no Third Party has any right, title or interest in the Territory in the Field with
respect to the Licensed Technology existing at the Effective Date; 

  

	 	6.2.8	Company has the right and authority to grant the rights and licenses granted pursuant to the terms and conditions of this Agreement and Company has not granted any rights that remain in effect that conflict with the
rights and licenses granted herein; 

  

	 	6.2.9	Except as set forth in Schedule 6.2.9, Company has no Knowledge that the making, using or selling of Licensed Products in the Field in the Territory would infringe any valid claims of the Patents of any Third Party in
the Territory, nor does it have Knowledge that any Third Party is infringing or misappropriating any of the Licensed Technology; 

  

	 	6.2.10	To the Company’s Knowledge, the Licensed Patents, are, or, upon issuance, will be, (i) valid and enforceable patents, (ii) no Claims are pending and no Third Party has threatened any Claims (and there is
no basis therefor) that challenges the validity, enforceability, use, or ownership of such Patents (including by way of example through the institution or written threat of institution of interference, nullity or similar invalidity proceedings
before the United States Patent and Trademark Office or any analogous foreign Governmental Authority) or (iii) is infringing any such Patents; 

  

	 	6.2.11	Except as disclosed on Schedule 6.2.11, Company is not a party to any contracts which require the payment of milestones or royalties by Licensee to Third Parties with respect to the use of the Licensed Patents or
Development, Manufacturing or Commercialization of Licensed Products. For each contract disclosed on Schedule 6.2.11, Schedule 6.2.11 sets forth the conditions of and the milestone or the royalty rate to be paid by the Licensee as of the Effective
Date; 

  

	 	6.2.12	Other than as set forth in Schedule 6.2.11, the use of the Licensed Patents, or the Development, Manufacturing and Commercialization of the Licensed Products as contemplated by the Licensee do not and to the best
Knowledge of Company will not violate any license, misappropriate or infringe any Third Party’s Intellectual Property rights or constitute unfair competition or unfair trade practices under applicable Laws. No Claims are pending or, to the
Knowledge of Company, has any person threatened any Claims that use of the Licensed Patents, or the Development, Manufacturing and Commercialization of the Licensed Products misappropriates a Third Party’s Intellectual Property rights; and

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 49 - 

	 	6.2.13	Company has not employed (and, to Company’s Knowledge, has not used a contractor or consultant that has employed) any Person debarred by the FDA (or subject to a similar sanction of EMA or foreign equivalent), or
any Person that is the subject of an FDA debarment investigation or proceeding (or similar proceeding of EMA or foreign equivalent), in any capacity in connection with the Licensed Patents, Licensed Products. 

 

	 	6.3	Disclaimer. Except as otherwise expressly set forth in this Agreement, neither Party nor its Affiliates makes any representation or extends any warranty of any kind, either express or implied, including
any warranty of merchantability or fitness for a particular purpose. Company and Licensee understand that each Licensed Product is the subject of ongoing Development and that neither Party can assure the safety, usefulness or commercial or technical
viability of any Licensed Product. 

 ARTICLE 7. 

INDEMNIFICATION; INSURANCE 
  

	 	7.1	Indemnification by Licensee. Licensee will indemnify, defend and hold harmless Company, each of its Affiliates, and each of its and its Affiliates’ employees, officers, directors and agents (each, an
“Company Indemnified Party”) from and against any and all liability, loss, damage, expense (including reasonable attorneys’ fees and expenses) and cost (collectively, a “Liability”) that the Company Indemnified
Party may be required to pay to one or more Third Parties to the extent resulting from or arising out of any claims of any nature arising out of (i) the Development, Manufacture, Commercialization or use of any Licensed Product by, on behalf
of, or under the authority of, Licensee (other than by any Company Indemnified Party), (ii) Licensee’s material breach of any of its representations, warranties or covenants set forth in this Agreement (iii) Licensee’s fraud,
(iv) Licensee’s gross negligence or (v) Licensee’s willful misconduct; provided however, Licensee shall not be required to indemnify Company for claims for which Company is required to indemnify Licensee pursuant to
Section 7.2. 

  

	 	7.2	Indemnification by Company. Company will jointly and severally indemnify, defend and hold harmless Licensee, its Affiliates, Sublicensees, distributors and each of its and their respective employees,
officers, directors and agents (each, a “Licensee Indemnified Party”) from and against any and all Liabilities that the Licensee Indemnified Party may be required to pay to one or more Third Parties to the extent resulting from or
arising out of Company’s (i) material breach of any of its representations, warranties or covenants set forth in this Agreement (ii) fraud, (iii) gross negligence or (iv) willful misconduct; provided however, Company shall
not be required to indemnify Licensee for claims for which Licensee is required to indemnify Company pursuant to Section 7.1. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 50 - 

	 	7.3	Procedure. Each Party will notify the other Party in writing if it becomes aware of a Claim for which indemnification may be sought hereunder. In case any proceeding (including any governmental
investigation) will be instituted involving any Party in respect of which indemnity may be sought pursuant to this Article 7, such Party (the “Indemnified Party”) will give prompt written notice of the indemnity claim to the other
Party (the “Indemnifying Party”) and provide a copy to the Indemnifying Party of any complaint, summons or other written or verbal notice that the Indemnified Party receives in connection with any such claim. An Indemnified
Party’s failure to deliver written notice will relieve the Indemnifying Party of liability to the Indemnified Party under this Article 7 only to the extent such delay is prejudicial to the Indemnifying Party’s ability to defend such claim.
Provided that the Indemnifying Party is not contesting the indemnity obligation, the Indemnified Party will permit the Indemnifying Party to control any litigation relating to such claim and the disposition of such claim by negotiated settlement or
otherwise and any failure to contest prior to assuming control will be deemed to be an admission of the obligation to indemnify. The Indemnifying Party will act reasonably and in good faith with respect to all matters relating to such claim and will
not settle or otherwise resolve such claim without the Indemnified Party’s prior written consent which will not be withheld, delayed or conditioned unreasonably other than settlements only involving the payment of monetary awards for which the
Indemnifying Party will be fully-responsible. The Indemnified Party will cooperate with the Indemnifying Party in such Party’s defense of any claim for which indemnity is sought under this Agreement, at the Indemnifying Party’s sole cost
and expense. 

  

	 	7.4	Insurance. Each Party will maintain, at its cost, reasonable insurance against liability and other risks associated with its activities contemplated by this Agreement and will furnish to the other Party
evidence of such insurance upon request. Notwithstanding the foregoing, Licensee may self-insure to the extent that it self-insures for its other activities. 

  

	 	7.5	Limitation of Consequential Damages. Except for (a) claims of a Third Party that are subject to indemnification under this Article 7, (b) claims arising out of a Party’s willful misconduct,
or (c) a Party’s breach of Article 9, neither Party nor any of its Affiliates will be liable to the other Party or its Affiliates for any incidental, consequential, special, punitive or other indirect damages or lost or imputed profits or
royalties, lost data or cost of procurement of substitute goods or services, whether liability is asserted in contract, tort (including negligence and strict product liability), indemnity or contribution, and irrespective of whether that Party or
any representative of that Party has been advised of, or otherwise might have anticipated the possibility of, any such loss or damage. 

ARTICLE 8. 
 TERM;
TERMINATION 
  

	 	8.1	Agreement Term; Expiration. Unless earlier terminated pursuant to the other provisions of this Article 8, this Agreement is effective as of the Effective Date and will expire upon the end of the Royalty
Term and Licensee shall have a fully paid up, irrevocable, worldwide license under Section 2.1. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 51 - 

	 	8.2	Termination of the Agreement. 

  

	 	8.2.1	Licensee’s Termination for Convenience. Licensee will be entitled to terminate this Agreement as a whole, for convenience, by providing Company 90 days’ written notice of such termination.

  

	 	8.2.2	Termination for Material Breach. 

  

	 	(a)	Licensee’s Right to Terminate. If Company is in material breach of this Agreement, then Licensee may deliver notice of such material breach to Company. If the breach is curable, Company will have
90 days from the receipt of such notice to cure such breach, provided, however, if such breach is not reasonably curable within such 90-day period the time shall be extended so long as the Company is pursuing a cure in good faith. If either
Company fails to cure such breach within such cure period or the breach is not subject to cure (a “Company Breach Event”), Licensee may terminate this Agreement by providing written notice to Company. 

 

	 	(b)	Company’s Right to Terminate. 

  

	 	(i)	If Licensee is in material breach of this Agreement, then Company may deliver notice of such material breach to Licensee. If the breach is curable, Licensee will have 90 days following receipt of such notice to
cure such breach provided, however, if such breach is not reasonably curable within such 90-day period the time shall be extended so long as Licensee is pursuing a cure in good faith. If Licensee fails to cure such breach within the cure period, or
the breach is not subject to cure, Company in its sole discretion may terminate this Agreement, in its entirety, by providing written notice to Licensee. 

  

	 	(ii)	If Licensee (A) commences or actively and voluntarily participates in any action or proceeding (including any patent opposition or re-examination proceeding), or otherwise asserts any claim, challenging or denying
the validity or enforceability of any claim of any Patent that is licensed to Licensee under this Agreement or (B) actively and voluntarily assists any other Person in bringing or prosecuting any action or proceeding (including any patent
opposition or re-examination proceeding) challenging or denying the validity or enforceability of any claim of any Patent that is licensed to Licensee under this Agreement 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 52 - 

	 	
(each of (A) and (B), a “Patent Challenge”), then, to the extent permitted by applicable Law, Company shall have the right, in its sole discretion, to give notice to
Licensee that Company may terminate the license(s) granted under such Patent to Licensee 90 days following such notice, and, unless (i) Licensee withdraws or causes to be withdrawn all such challenge(s) if it has the power to unilaterally
withdraw or cause to be withdrawn such challenge(s) or (ii) in the case of ex-parte proceedings, multi-party proceedings, or other Patent Challenges that Licensee does not have the power to unilaterally withdraw or cause to be withdrawn,
Licensee ceases assisting any other party to such Patent Challenge and, to the extent Licensee is a party to such Patent Challenge, it withdraws from such Patent Challenge within such 90-day period, then Company shall have the right to terminate
this Agreement by providing written notice thereof to Licensee. The foregoing right to terminate shall not apply with respect to any Patent Challenge where the Patent Challenge is made in defense of an assertion of the relevant Patent that is first
brought by Company against Licensee. For the avoidance of doubt, any participation by Licensee or its employees in any claim, challenge or proceeding in response to a subpoena or as required under a pre-existing agreement between Licensee’s
employee(s) or consultant(s) and their prior employer(s) shall not constitute active and voluntary participation or assistance and shall not give rise to Company’s right to terminate any license hereunder. 

 

	 	8.2.3	Disputes Regarding Material Breach. Notwithstanding the foregoing, if the Breaching Party disputes the existence, materiality, or failure to cure of any breach, and provides notice to the Non-Breaching
Party of such dispute within the relevant cure period, the Non-Breaching Party will not have the right to terminate this Agreement in accordance with Section 8.2.2, unless and until it has been determined in accordance with Section
[    ]that this Agreement was materially breached by the Breaching Party and the Breaching Party fails to cure such breach within 90 days (or during a longer period of time if such breach is not reasonably curable within such
90-day period, so long as the Non-Breaching Party is pursuing a cure in good faith) following such determination. It is understood and acknowledged that during the pendency of such dispute, all the terms and conditions of this Agreement will remain
in effect and the Parties will continue to perform all of their respective obligations hereunder, including satisfying any payment obligations. 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 53 - 

	 	8.2.4	Termination for Insolvency. If the Company or Licensee makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its
property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it that is not discharged within 60 days of the filing thereof (each, an “Insolvency Event”), then the other Party may
terminate this Agreement in its entirety effective immediately upon written notice to the non-terminating Party. 

  

	 	8.3	Consequences of Termination of the Agreement. 

  

	 	8.3.1	In General. If this Agreement is terminated by a Party in accordance with this Article 8 at any time and for any reason, the following terms will apply to any Licensed Product in any country that is the
subject of such termination: 

  

	 	(a)	Termination or expiration of this Agreement for any reason will be without prejudice to any rights or financial compensation that will have accrued to the benefit of a Party prior to such termination or expiration. Such
termination or expiration will not relieve a Party from obligations that are expressly indicated to survive the termination or expiration of this Agreement; 

  

	 	(b)	The following provisions of this Agreement will survive any expiration or termination of this Agreement:
[                    ]; 16 

 

	 	(c)	the applicable licenses granted by Company to Licensee under this Agreement will terminate and Licensee will cease all Development, Manufacture and Commercialization activities with respect to the applicable Licensed
Products except to the extent an unlicensed Third Party can conduct such activities without violating Company’s Intellectual Property rights; 

  

	 	(d)	any permitted Sublicense of Licensee will, at the Sublicensee’s option, survive such termination; provided that the Sublicensee is not in material breach of any of its obligations under such Sublicense. In
order to effect this provision, at the request of the Sublicensee, Company will enter into a direct license with the Sublicensee on substantially the same terms as this Agreement (taking into account the scope of the licensee granted under such
Sublicense); provided that Company will not be required to undertake obligations in addition to those required by this Agreement, and that Company’s rights under such direct license will be consistent with its rights under this
Agreement, taking into account the scope of the license granted under such direct license. 

  

	 	8.3.2	Termination Except Other Than by Licensee For Cause. Except with respect to any termination by Licensee under Section 8.2.2(a), in addition to the terms set forth in Section 8.3.1 (Consequences
of Termination of this Agreement), the following additional terms will also apply: 

  

	 	(a)	Licensee will and hereby does grant to Company a sublicensable, worldwide, non-exclusive license or sublicense, as the case may be, under all Intellectual Property Controlled by Licensee as of the effective date of such
termination that Covers the Licensed Product solely as necessary to Develop, make, have made, use, sell, offer for sale, have sold, import and otherwise Commercialize the Licensed Product; 

 

	16 	To be added prior to finalization at Opt-In 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 54 - 

	 	(b)	Licensee will transfer to Company for use with respect to the Development and Commercialization of the Licensed Product, any Know-How, data, results, regulatory information, and files in the possession of Licensee as of
the date of such termination or reversion that relate solely to such Licensed Product; 

  

	 	(c)	Licensee will transfer to Company, Licensee’s possession and ownership of all Regulatory Filings and Regulatory Approvals solely relating to the Development, Manufacture or Commercialization of any terminated
Licensed Product that is not subject to a then-effective Sublicense; 

  

	 	(d)	Licensee will negotiate in good faith with Company on a non-exclusive, license under any trademark that is specific to a Licensed Product solely for use with such Licensed Product; 

 

	 	(e)	Upon Company’ written request pursuant to a mutually agreed supply agreement, Licensee will sell to Company any bulk API and finished drug product in Licensee’s possession related to the Licensed Product that
is the subject of the termination at the time of such termination, at a price equal to Licensee’s then current cost basis at the time such Material is requested by Company; and 

 

	 	(f)	Licensee will use Commercially Reasonable Efforts to assist Company entering into an agreement with any of Licensee’s existing suppliers or contract manufacturers related to the Licensed Product. 

 

	 	8.3.3	In addition to the remedies specified in Sections 8.3.1 and 8.3.2, if this Agreement is terminated for breach, the non-breaching Party may also pursue any available remedy at law or in equity. 

ARTICLE 9. 

CONFIDENTIALITY 
  

	 	9.1	Confidentiality. Each Party shall, and shall cause its Affiliates to, keep confidential any oral or written, tangible or intangible, proprietary or confidential information (“Information”)
of the other Party or its Affiliates furnished to it by the other Party, its Affiliates or their directors, officers, employees, representatives or agents, or obtained by it in connection with performance under 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 55 - 

	 	
this Agreement. The term “Information” shall be deemed to include those portions of any notes, analyses, compilations, studies, interpretations, memoranda or other documents (regardless
of the form thereof) prepared by the receiving Party or its Affiliates or its or their directors, officers, employees, representatives or agents which contain, reflect or are based upon, in whole or in part, any Information of the disclosing Party
or its Affiliates. In addition, such Party and its Affiliates shall not use such Information except in connection with the performance of the obligations of such Party or such Affiliate contemplated hereby or the exercise of any rights hereunder or
as expressly provided for herein. Neither Party or its Affiliates will disclose the Information of the other Party or its Affiliates to its Affiliates or its or their directors, officers, employees, representatives or agents unless such Person has a
reasonable need to know such Information in connection with the performance of the obligations of such Party or such Affiliates contemplated hereby, the exercise of any rights hereunder or as expressly provided for herein. Neither Party or its
Affiliates shall release or disclose such Information to any other Person, except those among its auditors, attorneys, financial advisors, bankers and consultants having a need to know such Information in connection with the transactions or the
performance of the obligations of such Party or such Affiliate contemplated hereby, the exercise of any rights hereunder, as required to comply with applicable Law or reporting requirements, or as expressly provided for herein, or to actual or
potential acquirers, collaborators, licensees, sub-licensees investment bankers, investors or lenders. Each Person receiving any such Information shall be subject to customary confidentiality obligations prior to such Person’s receipt of such
Information and such Party shall be primarily liable and responsible for any breach of this Section 9.1 as if such Person was a party hereto. In addition, each Party and its Affiliates are permitted to disclose such Information to the extent
such disclosure is to a Governmental Authority as reasonably necessary in filing or prosecuting Patent, copyright and trademark applications, prosecuting or defending litigation related to this Agreement, complying with applicable governmental
regulations with respect to performance under this Agreement or otherwise required by applicable Law. If a Party or any of its Affiliates (the “Compelled Party”) is requested to disclose any Information by any governmental or
regulatory authority (including stock exchange rules, GAAP or IFRS), the Compelled Party will promptly notify the other Party (the “Affected Party”), to permit it to seek a protective order or take other action that the Affected
Party in its discretion deems appropriate, and the Compelled Party will cooperate in any such efforts to obtain a protective order or other reasonable assurance that confidential treatment will be accorded such Information. If, in the absence of a
protective order, the Compelled Party is compelled as a matter of Law to disclose any such Information in any proceeding or pursuant to legal process (as advised by its outside legal counsel), the Compelled Party may disclose to the Person
compelling disclosure only the part of such Information as is required by Law to be disclosed (in which case, prior to such disclosure, the Compelled Party will advise and consult with the Affected Party and its counsel as to such disclosure and the
nature and wording of such disclosure) and the 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 56 - 

	 	
Compelled Party will use its reasonable best efforts to obtain confidential treatment therefor. The confidentiality obligations contained in this Section 9.1 do not apply to Information that
can be shown by such Party to have been (i) previously known by the Party or its Affiliates to which it was furnished prior to the date hereof (and not under a confidentiality obligation), (ii) generally available to the public through no
fault or breach of such Party or its Affiliates, (iii) later lawfully acquired from other sources (not under a confidentiality obligation) by the Party or its Affiliates to which it was furnished or (iv) independently developed by a Party
or its Affiliates or its or their directors, officers, employees, representatives or agents without the use or reference to any Information of the other Party, or its Affiliates. Following a termination of this Agreement, such confidentiality
obligations and use restrictions shall be maintained, subject to the exceptions set forth above, and all Information of the other Party and its Affiliates (including all copies thereof) shall be returned (or, at the other Party’s instructions,
destroyed, with certification of the same) to the Party that the other Party and its Affiliates shall be permitted to retain such Information (i) to the extent necessary for purposes of performing any continuing obligations or exercising any
ongoing rights hereunder and, in any event, one copy of such Information retained by the other Party’s legal department for its records (provided that for so long as such Information is so retained, such Information shall be subject to the
confidentiality obligations and restrictions on use as set forth herein), and (ii) any computer records or files containing such Information that have been created solely by such Party’s or its Affiliates’ automatic archiving and
back-up procedures, to the extent created and retained in a manner consistent with such Party’s standard archiving and back-up procedures, but not for any other use or purposes. Without limiting the generality of the foregoing, to the extent
that a Party provides to Licensee any Information owned by any Third Party, Licensee will handle such Information in accordance with the terms and conditions of this Article 9 or the terms and conditions required by the Third Party, whichever is
more stringent. 

  

	 	9.2	Duration of Confidentiality. The provisions of Section 9.1 shall continue to apply with respect to each Party and its Affiliates until the date which is seven (7) years following the termination
of this Agreement. 

  

	 	9.3	Press Releases and Other Public Disclosures. Neither Party shall issue any press release or otherwise make any public statement with respect to this Agreement without the prior written consent of the other
Party, except in case of public announcements required under the rules of any stock exchange on which the equity interests of a Party or its Affiliates (or any successor entity) are listed or any applicable Law or governmental requirement.
Notwithstanding anything to the contrary in this Article 9, a Party (or its Affiliates) may disclose this Agreement (and a summary thereof), in securities filings with the U.S. Securities and Exchange Commission or an equivalent foreign agency to
the extent required by applicable Law. In such event, the Party seeking such disclosure shall prepare such summary and a proposed redacted version of this Agreement to request confidential treatment for such agreements, and the other Party may
promptly 

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 57 - 

	 	
(and in any event, no less than three (3) Business Days after receipt of such summary and proposed redactions) provide its comments. The Party seeking such disclosure shall reasonably
consider any comments thereto provided by the other Party within such three (3) Business Day period. The Parties have agreed to issue a joint press release or separate press releases announcing this Agreement and the transactions contemplated
hereby, to be issued by the Parties at a mutually agreed date and time, in the form(s) to be agreed by the Parties in their reasonable discretion. Notwithstanding any provision of this Agreement to the contrary, Information will not include Residual
Knowledge. Any use made by the receiving Party of Residual Knowledge is on an “as is, where is” basis, with all faults and all representations and warranties disclaimed and at its sole risk. 

 

	 	9.4	Publications. During the Term, each Party (as the “Requesting Party”) will submit to the other Party (as the “Reviewing Party”) for review and approval any proposed
academic, scientific and medical publication or public presentation related to any Licensed Product or any activities conducted under this Agreement, in each case, to the extent it includes Information of the other Party. In each such instance, such
review and approval will be conducted for the purposes of preserving the value of the Reviewing Party’s technology, the rights granted under this Agreement and determining whether any portion of the proposed publication or presentation
containing the Reviewing Party’s Information should be modified or deleted. Written copies of such proposed publication or presentation required to be submitted hereunder will be submitted to the Reviewing Party no later than 15 Business Days
before submission for publication or presentation (or five Business Days in advance in the case of an abstract). The Reviewing Party will provide its comments with respect to such publications and presentations within 10 Business Days of its receipt
of such written copy (or five Business Days in the case of an abstract). The review period may be extended for an additional 30 days if the Reviewing Party reasonably requests such extension including for the preparation and filing of patent
applications. Notwithstanding anything to the contrary, the Reviewing Party may require, in its reasonable discretion, that the Requesting Party redact the Reviewing Party’s Information from any such proposed publication or presentation. The
Parties will each comply with standard academic practice regarding authorship of scientific publications and recognition of contribution of other parties in any publication. Notwithstanding the foregoing, a Licensee’s obligation to submit any
publication to the Company for review and approval under this Section 9.4 will not apply to any publication made by a Licensee with respect to Licensed Products that does not contain Information or disclose any non-public information of the
Company; provided, that where reasonably possible, Licensee will provide Company with an advance copy of such publication if such publication is reasonably likely to have a material adverse effect on the value of Company’s technology. For
clarity, neither Party is obligated hereunder to submit proposed publications to the other Party for all proposed publications relating to work conducted outside of the scope of this Agreement. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 58 - 

 ARTICLE 10. 

DISPUTE RESOLUTION 
  

	10.1	Referral to Heads of Businesses. Unless otherwise specified in this Agreement, the Parties hereby agree that to the extent reasonably practicable and would not materially prejudice a Party, controversies
or claims arising out of or relating to this Agreement or the interpretation, performance, breach, termination or validity thereof shall first be referred to the
[                    ] of Licensee and General Manager of Company for resolution. If these individuals are unable to agree upon a resolution within
thirty (30) days after referral of the matter to them (a “Resolution Period”), then either Party may pursue any available remedy hereunder, at law or in equity. 

 

	10.2	Attorneys’ Fees. If any action at law or in equity (including, arbitration) is necessary to enforce or interpret the terms of this Agreement, including claims for fraud and/or fraudulent inducement,
the prevailing Party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled. 

 

	10.3	Jurisdiction. Each Party to this Agreement, by its execution hereof, unless otherwise prohibited by applicable Law (a) hereby irrevocably submits to the exclusive jurisdiction of the state courts of
the State of New York in the Borough of Manhattan and to the United States District Court for the Southern District of New York for the purpose of any enforcement of any arbitral award determined under Section 10.3 or for any dispute not
subject to Section 10.3, (b) hereby waives and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that any such
action brought in one of the above-named courts should be dismissed on grounds of forum non conveniens, should be transferred or removed to any court other than one of the above-named courts, or should be stayed by reason of the pendency of some
other proceeding in any court other than one of the above-named courts, or that this Agreement or the subject matter hereof may not be enforced in or by such court and (c) to the extent that an action can be commenced in a court and not an
arbitration, agrees not to commence any such action in any court other than before one of the above-named courts. Notwithstanding the previous sentence, a Party may commence any action in a court other than the above-named courts for the purpose of
enforcing an order or judgment issued by one of the above-named courts. 

  

	10.4	Venue. Neither Party will assert that venue should properly lie in any other location within the selected jurisdiction. 

 

	10.5	Specific Performance. Each of the Parties acknowledges and agrees that the other Party would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with
their specific terms or otherwise are breached or violated. Accordingly, each of the Parties agrees that, without posting a bond or other undertaking, the other Party may seek (and obtain) an injunction or injunctions to prevent breaches or
violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any Action instituted in any court specified herein. An Action for specific performance as provided herein shall not

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 59 - 

	 	
preclude a Party from pursuing any other remedy to which such Party may be entitled, at law or in equity, in accordance with the terms of this Agreement. Each Party further agrees that, in the
event of any action for specific performance in respect of such breach or violation, it will not assert that the defense that a remedy at law would be adequate provided, however, each Party also agrees that any Party can assert any other defense it
may have other than the defense of adequate remedy at law. 

  

	10.6	Governing Law. This Agreement, and all claims arising under or in connection therewith, will be governed by and interpreted in accordance with the substantive laws of The State of New York.

 ARTICLE 11. NOTICES 
  

	 	11.1	Form of Valid Notice. 

  

	 	11.1.1	All notices or other communications provided for in this Agreement or that may otherwise be required must be in writing, clearly legible and shall be sent: 

 

	 	(i)	by an internationally recognized courier service with acknowledgment of receipt, properly addressed, and postage pre-paid; 

  

	 	(ii)	by e-mail; or 

  

	 	(iii)	by personal delivery. 

  

	 	11.1.2	Any notice sent by one of the means described in Section 11.1.1 will be deemed received: 

  

	 	(i)	if sent by an internationally recognized courier service, three (3) Business Days after deposit with such courier service, 

  

	 	(ii)	if sent by e-mail, when there is effective acknowledgment of receipt, or 

  

	 	(iii)	if delivered personally, when delivered. 

  

	 	11.2	Persons and Addresses. Except as may otherwise be provided, all notices or other communications provided for in this Agreement or that a Party may otherwise be required to give to the other Party shall be
sent as provided in Section 11.1 to the following persons at the addresses stated herein or at such other address as either Party may specify by notice to the other Party given in accordance with this Article 11: 

 

			
	To Company:	    	 VIVR LLP
 c/o Taylor Wessing

5 New Street Square
 London EC4A 3TW

Attn: Andrew Davis

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 60 - 

			
	With a copy to:	    	 Taylor Wessing
 5 New Street Square

London EC4A 3TW
 Attention: Andrew Davis

 To Licensee: 

With a copy to: 
 ARTICLE 12.

 ASSIGNMENT 
  

	 	12.1	Assignment. Neither this Agreement nor any interest hereunder will be assignable by either Party without the prior written consent of the other Party, except as follows: (a) Licensee, may, subject to
the terms of this Agreement, assign its rights and obligations under this Agreement by way of sale of itself or the sale of the portion of such Party’s business to which this Agreement relates, through merger, sale of assets or sale of stock or
ownership interest; provided that such sale is not primarily for the benefit of its creditors; and (b) either Party may assign its rights and obligations under this Agreement to any of its Affiliates; provided that such Party will remain liable
for all of its rights and obligations under this Agreement. An assigning Party will promptly notify the other Party of any assignment or transfer under the provisions of this Section 12.1. This Agreement will be binding upon the successors and
permitted assigns of the Parties and the name of a Party appearing herein will be deemed to include the names of such Party’s successors and permitted assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not
in accordance with this Section 12.1 will be void. 

  
 [***] =
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 406 of the Securities Act of 1933, as amended. 

  
 - 61 - 

 ARTICLE 13. 

MISCELLANEOUS 
  

	 	13.1	Miscellaneous. 

  

	 	13.1.1	No amendment, modification or addition to any provision of this Agreement shall be valid unless the same shall be in writing and approved by the signature of each Party. 

 

	 	13.1.2	The terms and conditions of this Agreement shall be interpreted according to the common sense meaning intended by the Parties and in accordance with the principles of good faith and fair dealing. 

 

	 	13.1.3	The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state, local or foreign statute or law shall be
deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. 

  

	 	13.1.4	Every day commences at 12:00 a.m. and ends at 11:59 p.m. (midnight) New York time. Any reference in this Agreement to a number of days “in” which an action or notice is to be taken or given, shall be
interpreted in such way that the term commences the day after the date taken as reference and that the action or notice shall be validly taken or given at the last day. Any reference in this Agreement to a “day” or a number of
“days” without explicit qualification of “business” shall be interpreted as a reference to a calendar day or number of calendar days. If any action or notice is to be taken or given on or by a particular calendar day, and such
calendar day is not a Business Day, then such action or notice shall be deferred until, or may be taken or given on, the next Business Day. 

  

	 	13.1.5	In the event either Party becomes a debtor under Title 11 of the U.S. Code, this Agreement shall be deemed to be, for purposes of Section 365(n) of Title 11, a license to “Intellectual Property” as
defined therein and the other Party and its Affiliates, and each of their successors and assigns as licensees shall have the rights and elections as specified in Section 365(n) of Title 11 of the U.S. Code. Without limiting the foregoing, upon
termination of this Agreement by a trustee or executor of either Party which has rejected this Agreement pursuant to any non-contractual rights afforded to it by applicable bankruptcy law and/or a U.S. or foreign bankruptcy court or other tribunal
of competent jurisdiction, all rights and licenses herein granted to the other Party 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 62 - 

	 	
shall nonetheless continue in full force and effect in accordance with the terms of this Agreement. The debtor Party shall take such actions to provide similar protections for the non-debtor
Party pursuant to similar laws in other jurisdictions. 

  

	 	13.1.6	This Agreement shall constitute the entire agreement and understanding between the Parties and shall supersede and nullify any and all previous agreements, negotiations, commitments, undertakings and declarations
heretofore made between the Parties in respect of the subject matter of this Agreement unless expressly provided for herein or in any schedule attached hereto and any other agreement entered in connection herewith. 

 

	 	13.1.7	Words importing gender include all genders. 

  

	 	13.1.8	The division of this Agreement into articles, sections and clauses, the inclusion of a table of contents and the insertion of headings are for convenience of reference only and shall not affect the construction or
interpretation of this Agreement. 

  

	 	13.1.9	Each provision contained in this Agreement is distinct and severable. A declaration of invalidity, illegality or unenforceability of any provision or a part thereof by an arbitrator, a court or a tribunal of competent
jurisdiction shall not affect the validity or enforceability of any other provision of this Agreement. To the extent permitted by law, if any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or
unenforceable, (i) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (ii) the remainder of
this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such
provision, or the application thereof, in any other jurisdiction. 

  

	 	13.1.10	Any mistaken reference to Articles, clauses, Sections, Schedules or paragraphs of this Agreement shall be amended according to common sense and good faith rules. When a reference is made in this Agreement to an Article,
clause, Section, Schedule or paragraph, such reference will be to an Article, clause, Section, Schedule or paragraph unless otherwise indicated. 

  

	 	13.1.11	No waiver by any Party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach
of warranty or covenant hereunder or affect in any way any 

  
 [***] =
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 406 of the Securities Act of 1933, as amended. 

  
 - 63 - 

	 	
rights arising by virtue of any prior or subsequent such occurrence. No single or partial exercise of any right, power or privilege shall preclude any other or further exercise thereof or the
exercise of any other right, power or privilege unless explicitly provided for in this Agreement. 

  

	 	13.1.12	Subject to the terms of and restrictions in this Agreement, the reference to any Party shall include its successors or permitted transferees that have legally acquired its rights, obligations and/or duties. This
Agreement shall be binding upon and inure solely to the benefit of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable
right, benefit or remedy of any nature whatsoever, unless otherwise specified therein. 

  

	 	13.1.13	EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION OR LIABILITY DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF ANY SUCH ACTION OR LIABILITY, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13.1.13. 

  

	 	13.1.14	This Agreement may be executed and delivered (including by means of electronic transmission, such as by electronic mail in “.pdf” form) in two or more counterparts, and by the different Parties in separate
counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 

  

	 	13.1.15	Whenever the words “include,” “includes” or “including” are used in this Agreement, they will be deemed to be followed by the words “without limitation.” The words
“hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement will refer to this Agreement as a whole and not to any particular provision of this Agreement. All terms used herein with
initial capital letters have the meanings ascribed to them herein and all terms defined in this Agreement will have such defined meanings when used in any 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 64 - 

	 	
certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural
forms of such terms. Any agreement, instrument or statute defined or referred to herein, or in any agreement or instrument that is referred to herein, means such agreement, instrument or statute as from time to time amended, modified or
supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. The
use of “or” is not intended to be exclusive unless expressly indicated otherwise. References to sums of money are expressed in lawful currency of the United States (U.S. dollars), unless the Parties otherwise agree in writing to use a
different currency. 

  

	 	13.1.16	Both Parties are independent contractors under this Agreement. Nothing herein contained will be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of
their agents or employees, or any other legal arrangement that would impose liability upon one Party for the act or failure to act of the other Party, except to the extent specifically agreed to in a written agreement signed by the Parties. Neither
Party will have any express or implied power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever. 

[SIGNATURE PAGE FOLLOWS] 
 *
- * - * - * 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 65 - 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
representatives thereunto duly authorized as of the Effective Date. 
  

									
	VIVR LLP	 		 	[LICENSEE]
					
	By:	 	  
	 		 	By:	 	  

			
	Name:	 		 	Name:
			
	Title:	 		 	Title:

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 - 66 - 

 Exhibit B 

Baseball Arbitration Procedures 
 Notice.
A Party shall initiate the final, binding, non-appealable “baseball type arbitration” by sending written notice to the other Party. 

Selection of Baseball Expert and Submission of Positions. The Parties will select and agree upon a mutually acceptable independent Third Party
expert who is neutral, disinterested and impartial, and has the experience reasonably required for the applicable dispute (the “Baseball Expert”), which the parties agree shall include the Relevant Experience to the extent
reasonably practicable. If the Parties are unable to mutually agree upon a Baseball Expert within [...***...] following the delivery of the request for Baseball Arbitration, then upon request by either Party, the Baseball Expert will be
an arbitrator appointed by Judicial and Mediation Services (“JAMS”), which arbitrator shall, to the extent available in the jurisdiction and on the timetable provided for herein, have the above-described experience and be neutral,
disinterested and impartial. If an arbitrator having the above-described experience is not available in the jurisdiction and/or on the timetable provided for herein, the appointed arbitrator need not have the above-described experience.
“Relevant Experience” means experience with valuing pharmaceutical products and licensing transactions involving pharmaceutical products, which may include experience relevant to the determination of risks and costs associated with
the development and commercialization of pharmaceutical products. 
 Submission. Once the Baseball Expert has been selected, each Party will within
[...***...] following selection of the Baseball Expert provide the Baseball Expert and the other Party with a written report setting forth its position with respect to the substance of the dispute including, (i) (x) if the dispute
regards which Qualifying Offer provides the highest value to the Company, such Party’s Qualifying Offer (if such Party made a Qualifying Offer that it is arguing provides the highest value to the Company) or any Third Party’s Qualifying
Offer (if such Party is arguing that such Qualifying Offer provides the highest value to the Company), including the complete agreement with its licensing terms and any related documents (the “Proposal”), or (y) if the dispute
regards the compensation payable for a Cross-Field Expansion, such Party’s proposal regarding the compensation payable for such Cross-Field Expansion, and (ii) any supporting documents and arguments. Such supporting documents and arguments
shall not exceed 25 pages. Within [...***...] of each Party receiving the other Party’s submissions, each Party shall submit rebuttal documents, if any. Such rebuttal documents shall not exceed 10 pages. If so requested by the
Baseball Expert, each Party will make oral submissions to the Baseball Expert based on such Party’s written report, and each Party will have the right to be present during any such oral submissions. 

JAMS Supervision. In the event the Baseball Expert is a JAMS arbitrator selected by JAMS that does not have the above-described experience, the
Baseball Expert may retain a Third Party expert who is neutral, disinterested and impartial, with the necessary experience to assist in rendering such decision, and the expenses of any such expert will be shared by the Parties as costs of the
arbitration as provided in this Exhibit B. The Third Party expert shall be subject to the approval of the Parties, which shall not be unreasonably withheld, conditioned or delayed. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

 Determination by the Baseball Expert. The matter will be conducted as a binding arbitration in
accordance with JAMS procedures, as modified by this Exhibit B (including that the arbitrator will adopt as his or her decision the position of one Party or the other, as described below). The Baseball Expert will, no later than [...***...]
after the last submission of the written reports and, if any, oral submissions, select one of the Party’s positions (which will be a proposal in the case of a highest value dispute) as his or her final decision, and will not have the authority
to modify either Party’s positions (which will be a proposal in the case of a highest value dispute) or render any substantive decision other than to so select the positions (which will be a proposal in the case of a highest value dispute) of
one of the Parties as set forth in their respective written report (as initially submitted in accordance with this Exhibit B). The decision of the Baseball Expert will be the sole, exclusive, binding and non-appealable remedy between them
regarding the dispute submitted to such Baseball Expert. 
 Confidentiality. The Parties hereto will maintain the substance of any proceedings
hereunder in confidence as Information (as defined in the JV Agreement) as required by Article 17 of the JV Agreement and the Baseball Expert, prior to any proceedings hereunder, will sign an agreement whereby the Baseball Expert agrees to keep the
substance of any proceedings hereunder in confidence. This shall apply mutatis mutandis to any Third Party expert retained by the Baseball Expert. 

Location; Costs. Unless otherwise mutually agreed upon by the Parties, the in-person portion (if any) of such proceedings will be conducted in New
York, New York. [...***...] 
 Timetable for Completion in [...***...]. The Parties will use, and will direct the
Baseball Expert to use, commercially reasonable efforts to resolve a dispute within [...***...] after the selection of the Baseball Expert, or if resolution within [...***...] is not reasonably achievable, as determined by the Baseball
Expert, then as soon thereafter as is reasonably practicable. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

 Exhibit C 

Antitrust Covenants 
 1. HSR
Compliance. If either the Company or a party to the Opt-In Transaction (the “Opt-In Counterparty,” which term shall include a Third Party, if applicable) determines that an Antitrust Filing is required for the Opt-In Counterparty to
receive the licenses granted pursuant thereto with respect to the applicable Licensed Product, each of the Company and Opt-In Counterparty (and, if required by applicable Antitrust Laws, either or both Parties) (each a “Filing
Party” and together, the “Filing Parties”) will, within [...***...] after the Winning Offer is determined (or such later time as may be agreed to in writing by the Company and the Opt-In Counterparty), make any
Antitrust Filings required with respect to such Opt-In Transaction. The Filing Parties will cooperate with one another to the extent necessary in the preparation of any such Antitrust Filing, including filing for early termination of the applicable
waiting period if applicable and reasonably practicable to do so. Each Filing Party will be responsible for its own costs and expenses (other than filing fees, which the Opt-In Counterparty will pay) associated with any Antitrust Filing. 

2. Antitrust Clearance. In furtherance of obtaining clearance for any Antitrust Filing filed pursuant to Section 1 above, the Filing
Parties will use their respective Commercially Reasonable Efforts to resolve as promptly as practicable any objections that may be asserted with respect to the applicable Opt-In Transaction under any Antitrust Law, and keep each other and the other
parties hereto reasonably informed of any communications received from or with any Antitrust Authorities. In connection with obtaining any such Antitrust Approval from the applicable Antitrust Authorities, no Filing Party, including any of its
respective Affiliates, will be required to: [...***...]. 
 3. “Definitions” 

“Antitrust Approval” means any consent, approval or other authorization required under the applicable Antitrust Laws from the
applicable Antitrust Authorities, 
 “Antitrust Authority” means any applicable Governmental Authority with respect to such
Antitrust Laws. 
 “Antitrust Condition” means that the waiting period (and any extension thereof) applicable to the
consummation of the applicable Opt-In Transaction under any and all applicable Antitrust Laws shall have expired or been terminated, and, if applicable, the Company’s receipt of any applicable Antitrust Approvals for the consummation of such
Opt-In Transaction under such Antitrust Laws. 
 “Antitrust Filing” means a filing or filings by the Filing Parties with
the applicable Antitrust Authorities as required by the applicable Antitrust Laws with respect to the applicable Opt-In Transaction, together with all required documentary attachments thereto. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

 “Antitrust Law” means any Law governing competition, monopolies or restrictive
trade practices, including the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder. 
  

[***] = 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 406 of the Securities Act of 1933, as amended.EX-10.4

 SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN
REQUESTED. THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT WITH THREE ASTERISKS [***]. AN UNREDACTED VERSION OF THIS EXHIBIT HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 

Exhibit 10.4 
 STRATEGIC
COLLABORATION, OPTION AND LICENSE AGREEMENT 
 BETWEEN 

VERTEX PHARMACEUTICALS INCORPORATED 

VERTEX PHARMACEUTICALS (EUROPE) LIMITED 

AND 
 CRISPR
THERAPEUTICS AG 
 CRISPR THERAPEUTICS LIMITED 

CRISPR THERAPEUTICS, INC. 

TRACR HEMATOLOGY LTD. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  

 STRATEGIC COLLABORATION, OPTION AND LICENSE AGREEMENT 

This STRATEGIC COLLABORATION, OPTION AND LICENSE AGREEMENT (this “Agreement”) is entered into as of October 26, 2015
(the “Effective Date”) by and between, on the one hand, VERTEX PHARMACEUTICALS INCORPORATED, a corporation organized and existing under the laws of The Commonwealth of Massachusetts (“Vertex Parent”), and VERTEX
PHARMACEUTICALS (EUROPE) LIMITED, a private limited liability company organized under the laws of England and Wales (“Vertex UK” and, together with Vertex Parent, “Vertex”) and, on the other hand, CRISPR
THERAPEUTICS AG, a corporation organized under the laws of Switzerland (“CRISPR AG”), CRISPR THERAPEUTICS, INC., a corporation organized under the laws of the state of Delaware (“CRISPR Inc.”), CRISPR THERAPEUTICS
LIMITED, a corporation organized under the laws of England and Wales (“CRISPR UK”) and TRACR HEMATOLOGY LTD, a UK limited company (“Tracr” and together with CRISPR AG, CRISPR Inc. and CRISPR UK
“CRISPR”). Vertex and CRISPR each may be referred to herein individually as a “Party” or collectively as the “Parties.” 

RECITALS 
 WHEREAS,
CRISPR possesses certain Patents, Know-How, technology and expertise with respect to the CRISPR/Cas System (as defined below); 

WHEREAS, Vertex possesses expertise in developing and commercializing human therapeutics; 

WHEREAS, Vertex and CRISPR desire to enter into a strategic collaboration focused on exploring potential targets related to certain
diseases and creating therapeutics using gene editing [***], including the CRISPR/Cas System, to treat such diseases; and 
 WHEREAS,
simultaneously with the execution of this Agreement, the Parties are entering into a convertible debt instrument, pursuant to which Vertex will provide CRISPR AG with a total of $30,000,000 in funding, which funding will be converted into shares of
CRISPR AG’s preferred stock in accordance with the terms thereof; 
 NOW, THEREFORE, in consideration of the respective
covenants, representations, warranties and agreements set forth herein, the Parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 For purposes
of this Agreement, the following capitalized terms will have the following meanings: 
 1.1 “Acceptance” means, with
respect to an Approval Application filed for a Product, (a) in the United States, the receipt of written notice from the FDA that such Approval Application is officially “filed” or (b) in the European Union, the receipt of written
notice of acceptance by the EMA of such Approval Application for filing under the centralized European 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 2 

 
procedure in accordance with any feedback received from EU Regulatory Authorities; provided that if the centralized filing procedure is not used, then Acceptance will be determined upon
the acceptance of such Approval Application by the applicable Regulatory Authority in a Major Market Country in the EU. 
 1.2
“Additional Research” has the meaning set forth in Section 2.12. 
 1.3 “Additional Research
Budget” has the meaning set forth in Section 2.12. 
 1.4 “Additional Research Plan” has the meaning
set forth in Section 2.12. 
 1.5 “Adverse Event” has the meaning set forth in the Applicable Law for such term
(or comparable term), and will generally mean any untoward medical occurrence in a subject in any Clinical Trial who has received a Licensed Agent or Product, medical device or placebo, and which does not necessarily have a causal relationship with
such Licensed Agent, Product, medical device or placebo, including any unfavorable and unintended sign (including an abnormal laboratory finding), symptom or disease temporally associated with the use of the applicable Licensed Agent or Product,
whether or not related to such Licensed Agent or Product. 
 1.6 “Affiliate” means, as of any point in time and for so long
as such relationship continues to exist with respect to any Person, any other Person that controls, is controlled by or is under common control with such Person. A Person will be regarded as in control of another Person if it (a) owns or controls
more than 50% of the equity securities of the subject Person entitled to vote in the election of directors (or, in the case of a Person that is not a corporation, for the election of the corresponding managing authority); provided,
however, that the term “Affiliate” will not include subsidiaries or other entities in which a Person owns a majority of the ordinary voting power necessary to elect a majority of the board of directors or other governing board, but
is restricted from electing such majority by contract or otherwise, until such time as such restrictions are no longer in effect, or (b) possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of
an such Person (whether through ownership of securities or other ownership interests, by contract or otherwise). 
 1.7
“Agreement” has the meaning set forth in the Preamble. 
 1.8 “Agreement Term” means the period commencing
on the Effective Date and ending on the expiration of this Agreement pursuant to Section 11.1, unless terminated earlier as provided herein. 

1.9 “Alliance Manager” has the meaning set forth in Section 3.4.1. 

1.10 “Applicable Law” means all applicable laws, statutes, rules, regulations and other pronouncements having the effect of
law of any federal, national, multinational, state, provincial, county, city or other political subdivision, agency or other body, domestic or foreign, including any applicable rules, regulations, guidelines, or other requirements of the Regulatory
Authorities that may be in effect from time to time. 
 1.11 “Approval Application” means a BLA, NDA or similar application
or submission for a Product filed with a Regulatory Authority in a country or group of countries to obtain marketing approval for a biological or pharmaceutical product in that country or group of countries. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 3 

 1.12 “Audited Party” has the meaning set forth in Section 7.9. 

1.13 “Auditing Party” has the meaning set forth in Section 7.9. 

1.14 “Available” has the meaning set forth in Section 1.34. 

1.15 “BLA” means a Biological License Application that is submitted to the FDA for marketing approval for a Licensed Agent or
Product pursuant to 21 C.F.R. § 601.2. 
 1.16 [***]. 

1.17 [***]. 
 1.18
“Breaching Party” means the Party that is believed by the other Party to be in material breach of this Agreement. 
 1.19
“Business Day” means a Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which banking institutions in Boston, Massachusetts are authorized or obligated to close. 

1.20 “Calendar Quarter” means the respective periods of three consecutive calendar months ending on March 31,
June 30, September 30 or December 31, during the Agreement Term, or the applicable part thereof during the first or last calendar quarter of the Agreement Term. 

1.21 “Calendar Year” means any calendar year ending on December 31, or the applicable part thereof during the first or last
year of the Agreement Term. 
 1.22 “cGMP” means current Good Manufacturing Practices as specified in the United States
Code of Federal Regulations, ICH Guideline Q7A, or equivalent laws, rules, or regulations of an applicable Regulatory Authority at the time of manufacture. 

1.23 “Change of Control” means, with respect to a Party, (a) a merger or consolidation of such Party with a Third Party that
results in the voting securities of such Party outstanding immediately prior thereto, or any securities into which such voting securities have been converted or exchanged, ceasing to represent more than 50% of the combined voting power of the
surviving entity or the parent of the surviving entity immediately after such merger or consolidation, or (b) a transaction or series of related transactions in which a Third Party, together with its Affiliates, becomes the beneficial owner of more
than 50% of the combined voting power of the outstanding securities of such Party, or (c) the sale or other transfer to a Third Party of all or substantially all of such Party’s business to which the subject matter of this Agreement relates.
Notwithstanding the foregoing, with respect to CRISPR, the term “Change of Control” will not include any sale of shares of capital stock of CRISPR, in a single transaction or series of related transactions in which CRISPR issues new
securities solely to institutional investors for cash or the cancellation or conversion of indebtedness or a combination thereof where such transaction(s) are conducted primarily for bona fide equity financing purposes. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 4 

 1.24 “Clinical Trial” means a study in humans that is conducted in accordance
with GCP and is designed to generate data in support of an Approval Application. 
 1.25 “Collaboration Program” means, on
a Collaboration Target-by-Collaboration Target basis, a Research program dedicated to the design, optimization and Research of Licensed Agents and Products directed to such Collaboration Target pursuant to a Research Plan and, upon Vertex’s
exercise of the Option for a Collaboration Target, Vertex’s (or with respect to any Hemoglobinopathy Target [***], the Parties’) Research, Development, Manufacture and Commercialization of such Licensed Agents and Products. 

1.26 “Collaboration Program Working Group” has the meaning set forth in Section 3.2. 

1.27 “Collaboration Target” means a Vertex Target that Vertex has selected as the subject of a Research Plan in accordance
with Section 2.3.3. 
 1.28 “Combination Product” has the meaning set forth in Section 1.117. 

1.29 “Commercialize” or “Commercializing” means to market, promote, distribute, offer for sale, sell, have
sold, import, export or otherwise commercialize a product, to conduct activities, other than Research, Development and Manufacturing, in preparation for the foregoing activities, including obtaining Price Approval, and to conduct post-Marketing
Approval studies (including Clinical Trials). When used as a noun, “Commercialization” means any and all activities involved in Commercializing. 

1.30 “Commercially Reasonable Efforts” means with respect to the efforts to be expended by any Person, with respect to any
objective, reasonable, diligent and good faith efforts to accomplish such objective. With respect to any objective relating to the Research, Development or Commercialization of a Licensed Agent or Product, “Commercially Reasonable Efforts”
means [***], taking into account, without limitation, with respect to each Licensed Agent or Product, (a) [***], (b) [***], (c) [***], (d) [***], (e) [***], (f) [***], (g) [***], (h) [***], (i) [***] and (j) [***]. “Commercially Reasonable
Efforts” shall be [***]. 
 1.31 “Competitive Infringement” has the meaning set forth in Section 8.6.1.

 1.32 “Competitive Program” has the meaning set forth in Section 1.33. 

1.33 “Competitor” means any pharmaceutical company that is conducting a research, development or commercial program for a
product that is intended to (a) [***], (b) [***] or (c) [***] (each of (a) - (c), a “Competitive Program”). 
 1.34
“Confidential Information” means, with respect to each Party, all Know-How or other information, including proprietary information (whether or not patentable) regarding or embodying such Party’s technology, products, business
information or objectives, that is communicated in any way or form by or on behalf of the Disclosing Party to the Receiving Party 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 5 

 
or its permitted recipients, prior to, on or after the Effective Date, whether or not such Know-How or other information is identified as confidential at the time of disclosure. The terms and
conditions of this Agreement will be considered Confidential Information of both Parties, with both Parties deemed to be the Receiving Party of such Confidential Information. The Vertex Target List and the identity of the Collaboration Targets
hereunder will be the Confidential Information of both Parties; provided, that if Vertex exercises the Option for a Collaboration Target, the identity of such Collaboration Target will be Vertex’s Confidential Information and will no longer be
CRISPR’s Confidential Information; and provided, further, [***] Notwithstanding any provision of this Section 1.34 to the contrary, Confidential Information does not include any Know-How or information that: (a) was already known by
the Receiving Party (other than under an obligation of confidentiality to the Disclosing Party) at the time of disclosure by or on behalf of the Disclosing Party; (b) was generally available to the public or otherwise part of the public domain at
the time of its disclosure to the Receiving Party; (c) became generally available to the public or otherwise part of the public domain after its disclosure to the Receiving Party, other than through any act or omission of the Receiving Party in
breach of its obligations under this Agreement; (d) was disclosed to the Receiving Party, other than under an obligation of confidentiality, by a Third Party who had no obligation to the Disclosing Party not to disclose such information to the
Receiving Party; or (e) was independently discovered or developed by or on behalf of the Receiving Party without the use of any Confidential Information belonging to the Disclosing Party; provided, in connection with the foregoing exclusions
from protection, that specific Confidential Information shall not be deemed to be known, generally available, in the public domain, disclosed, independently discovered or developed (individually and collectively “Available”), merely
because broader or related information is Available, nor shall combinations of elements or principles be considered to be Available merely because individual elements thereof are Available. 

1.35 “Continuation Notice” has the meaning set forth in Section 2.6. 

1.36 “Continuation Research” has the meaning set forth in Section 2.6. 

1.37 “Control” or “Controlled” means with respect to any Know-How or Patent or other data, information or
Materials, possession of the ability by a Party or its Affiliate(s) (whether by sole or joint ownership, license or otherwise, other than pursuant to this Agreement) to grant, without violating the terms of any agreement with a Third Party, a
license, access or other right in, to or under such Know-How or Patent or other data, information or Materials. Notwithstanding anything in this Agreement to the contrary, a Party will be deemed to not Control any Patents or Know-How that are owned
or controlled by a Third Party described in the definition of “Change of Control,” or such Third Party’s Affiliates (other than an Affiliate of such Party prior to the Change of Control), (a) prior to the closing of such Change of
Control, except to the extent that any such Patents or Know-How were developed prior to such Change of Control through the use of such Party’s technology, or (b) after such Change of Control to the extent that such Patents or Know-How are
developed or conceived by such Third Party or its Affiliates (other than such Party) after such Change of Control without using or incorporating such Party’s technology. 

1.38 “Cost Report” has the meaning set forth in Section 7.4.2. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 6 

 1.39 “Cover,” “Covering” or “Covers” means, as
to a product and Patent, that, in the absence of a license granted under, or ownership of, such Patent, the making, using, keeping, selling, offering for sale or importation of such product would infringe such Patent or, as to a pending claim
included in such Patent, the making, using, selling, offering for sale or importation of such product would infringe such Patent if such pending claim were to issue in an issued patent without modification. 

1.40 “CREATE Act” means the Cooperative Research and Technology Enhancement Act of 2004, 35 U.S.C. § 103(c)(2)-(c)(3).

 1.41 “CRISPR” has the meaning set forth in the Preamble. 

1.42 “CRISPR Activities” means any and all Research activities other than Vertex Activities under any Research Plan. 

1.43 “CRISPR Agreement Breach” has the meaning set forth in Section 11.2.3(a). 

1.44 “CRISPR Background Know-How” means any Know-How, other than Joint Program Know-How and CRISPR Program Know-How, that (a)
[***] and (b) [***]. On a Collaboration Target-by-Collaboration Target basis, CRISPR Background Know-How will exclude [***]. For the avoidance of doubt, the CRISPR Background Know-How includes the Know-How claimed or disclosed in the CRISPR Platform
Technology Patents. 
 1.45 “CRISPR Background Patents” means any Patent, other than a Joint Program Patent, CRISPR Program
Patent or CRISPR Platform Technology Patent that (a) [***] and (b) [***]. On a Collaboration Target-by-Collaboration Target basis, CRISPR Background Patents will exclude [***]. 

1.46 “CRISPR Breach Event” has the meaning set forth in Section 11.2.3(a). 

1.47 “CRISPR Entity” means, when used in the singular, any one of CRISPR UK, CRISPR AG, CRISPR Inc. or Tracr. “CRISPR
Entities” means, when used in the plural, CRISPR UK, CRISPR AG, CRISPR Inc. and Tracr. 
 1.48 “CRISPR Indemnified
Party” has the meaning set forth in Section 10.1. 
 1.49 “CRISPR In-License Agreements” has the
meaning set forth in Section 7.6.1. 
 1.50 “CRISPR Platform Technology Patents” means all Patents that are
owned, used, developed by, or licensed to CRISPR or its Affiliates, in each case to the extent Controlled by CRISPR or its Affiliates on the Effective Date or at any time during the Agreement Term, claiming [***]. For clarity, the CRISPR Platform
Technology Patents (i) will not include [***] and (ii) will include all [***]. 
 1.51 “[***] Patent” has the meaning set
forth in Section 8.1.3(a). 
 1.52 “CRISPR Program Breach” has the meaning set forth in
Section 11.2.3(a). 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 7 

 1.53 “CRISPR Program Know-How” has the meaning set forth in
Section 8.1.2(a). 
 1.54 “CRISPR Program Patents” has the meaning set forth in Section 8.1.2(a).

 1.55 “CRISPR Program Technology” has the meaning set forth in Section 8.1.2(a). 

1.56 “CRISPR Reserved Target” means all Targets described or identified on Schedule A. 

1.57 “CRISPR/Cas System” means a clustered regularly interspaced short palindromic repeats (CRISPR)/CRISPR-associated (Cas)
protein system that comprises (a) [***] and (b) [***]. 
 1.58 “Development” means, with respect to a Licensed
Agent, all clinical and non-clinical research and development activities conducted after filing of an IND for such Licensed Agent, including toxicology, pharmacology test method development and stability testing, process development, formulation
development, delivery system development, quality assurance and quality control development, statistical analysis, Clinical Trials (other than post-Marketing Approval Clinical Trials), regulatory affairs, pharmacovigilance, Clinical Trial regulatory
activities and obtaining and maintaining Regulatory Approval. When used as a verb, “Develop” or “Developing” means to engage in Development. 

1.59 “Disclosing Party” has the meaning set forth in Section 12.1. 

1.60 “Distracting Product” means a product containing (a) [***] or (b) [***]. 

1.61 “Distributor” means a Third Party to whom Vertex grants a right to sell or distribute a Product, that does not make
payments to Vertex that are calculated on the basis of a percentage of, or profit share on, such Third Party’s sales of Products. 

1.62 “Divestiture” means, with respect to a Distracting Product, the sale, exclusive license or other transfer by the
applicable Party and its Affiliates of all of their development and commercialization rights with respect to such Distracting Product to a Third Party without the retention or reservation of any development or commercialization obligation, interest
or participation rights (other than solely an economic interest or the right to enforce customary terms and conditions contained in the relevant agreements effectuating such transaction). When used as a verb, “Divest” means the to
engage in a Divestiture. 
 1.63 “DOJ” has the meaning set forth in Section 4.1.2(a). 

1.64 “Effective Date” has the meaning set forth in the Preamble. 

1.65 “EMA” means the European Medicines Agency and any successor entity thereto. 

1.66 “Establishment of POC” with respect to a Product, [***] that [***] (a) [***] and (b) [***]. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 8 

 1.67 “European Commission” means the European Commission or any successor entity
that is responsible for granting marketing approvals authorizing the sale of pharmaceuticals in the European Union. 
 1.68
“European Union” or “EU” means each and every country or territory that is officially part of the European Union. 

1.69 “Exclusive License” has the meaning set forth in Section 5.3.1. 

1.70 “Executive Officers” means the Chief Scientific Officer of CRISPR AG, initially Sven Ante (Bill) Lundberg, and the Chief
Scientific Officer of Vertex, initially David Altshuler; provided, that for purposes of Section 11.3.4(a), “Executive Officers” means the Chief Executive Officer of CRISPR AG, initially Rodger Novak, and the Chief
Financial Officer of Vertex, initially Ian Smith. 
 1.71 “FDA” means the United States Food and Drug Administration and
any successor entity thereto. 
 1.72 “FD&C Act” means the United States Federal Food, Drug, and Cosmetic Act, as
amended, and the rules and regulations promulgated thereunder. 
 1.73 “Field” means the diagnosis, treatment or prevention
of disease in humans or animals in [***]. 
 1.74 “Final Target Selection Period” means the [***] period following the
Initial Target Selection Period. 
 1.75 “First Commercial Sale” means with respect to a Product, the first sale of such
Product by Vertex, its Affiliate or its Sublicensee to a Third Party resulting in Net Sales in a particular country after any required Marketing Approval for the Product has been obtained in such country. 

1.76 “Force Majeure” means a condition, the occurrence and continuation of which is beyond the reasonable control of a Party,
including an act of God, voluntary or involuntary compliance with any regulation, law or order of any government, war, civil commotion, labor strike or lock-out, epidemic, flood, failure or default of public utilities or common carriers, destruction
of production facilities or materials by fire, earthquake, storm or like catastrophe. 
 1.77 “Foundational Intellectual Property
Rights” means all rights, title and interest in [***]; and any worldwide patents and patent applications claiming priority thereto and all inventions covered or claimed by such patent applications (together with all provisionals,
non-provisionals, substitutions, continuations, continuations-in-part, divisionals, renewals and all patents granted thereon, and all reissues, reexaminations, extensions, confirmations, revalidations, registrations and patents of addition thereof,
including patent term extensions and supplementary protection certificates, international patent applications filed under the Patent Cooperation Treaty (PCT) and any foreign equivalents to any of the foregoing). 

1.78 “FTC” has the meaning set forth in Section 4.1.2(a). 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 9 

 1.79 “FTE Rate” means, [***]; provided that such rates will increase or
decrease on [***] over the twelve month period preceding each such January 1. 
 1.80 “GAAP” means United States generally
accepted accounting principles, consistently applied. 
 1.81 “GCP” means good clinical practices, which are the
then-current standards for Clinical Trials for pharmaceuticals, as set forth in the FD&C Act or other Applicable Law, and such standards of good clinical practice as are required by the Regulatory Authorities of the European Union and other
organizations and governmental authorities in countries for which the applicable Licensed Agent is intended to be Developed, to the extent such standards are not less stringent than United States standards. 

1.82 “[***] Joint Program Know-How” has the meaning set forth in Section 8.1.2(d). 

1.83 “[***] Joint Program Patents” has the meaning set forth in Section 8.1.2(d). 

1.84 “[***] Joint Program Technology” has the meaning set forth in Section 8.1.2(d). 

1.85 “[***]” means [***], including, but not limited to, [***], and any variation thereof, in each case [***] 

1.86 “Generic Product” means, with respect to a particular Product in a particular country, a product on the market in such
country commercialized by any Third Party that is not a Sublicensee and that did not purchase such product in a chain of distribution that included any of Vertex or its Affiliates or Sublicensees, that (a) is approved by the applicable Regulatory
Authority, under any then-existing laws and regulations in the applicable country pertaining to approval of generic or biosimilar biologic products, as a “generic” or “biosimilar” version of such Product, which approval uses such
Product as a reference product and relies on or references pivotal safety or efficacy data in the Approval Application for such Product or (b) otherwise meets the criteria for constituting a “biosimilar” or “interchangeable”
product pursuant to Section 351(k) of the Public Health Service Act (42 U.S.C. § 262(k)) or EMA Directive 2001/83/EC or any foreign equivalent thereof or successors thereto. 

1.87 “GLP” means the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21
C.F.R. Part 58 or the successor thereto, or comparable regulatory standards in jurisdictions outside of the United States, to the extent such standards are not less stringent than United States standards. 

1.88 “Governmental Authority” means any court, agency, department, authority or other instrumentality of any national, state,
county, city or other political subdivision. 
 1.89 “Hemoglobinopathy Target” means a Target related to the [***]. 

1.90 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations
promulgated thereunder. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 10 

 1.91 “HSR Clearance Date” means the earliest date on which the Parties have
actual knowledge that all applicable waiting periods under the HSR Act with respect to the transactions contemplated hereunder have expired or have been terminated. 

1.92 “HSR Filing” means a filing by Vertex and CRISPR with the FTC and the DOJ of a Notification and Report Form for Certain
Mergers and Acquisitions (as that term is defined in the HSR Act) with respect to the matters set forth in this Agreement, together with all required documentary attachments thereto. 

1.93 “IND” means any Investigational New Drug application, filed with the FDA pursuant to Part 312 of Title 21 of the U.S.
Code of Federal Regulations, including any supplements or amendments thereto. References herein to IND will include, to the extent applicable, any comparable filings outside the United States. 

1.94 “Indemnified Party” has the meaning set forth in Section 10.3. 

1.95 “Indemnifying Party” has the meaning set forth in Section 10.3. 

1.96 “Initial Collaboration Targets” means the Targets set forth on Schedule B under the heading “Initial
Collaboration Targets.” 
 1.97 “Initial Target Selection Period” means the first [***] of the Research Term. 

1.98 “Initiation” or “Initiate” means, with respect to any Clinical Trial, dosing of the first human subject
in such Clinical Trial. 
 1.99 “Insolvency Event” has the meaning set forth in Section 11.2.5. 

1.100 “Joint Development & Commercialization Agreement” has the meaning set forth in Section 6.1.2(c). 

1.101 “Joint Program Know-How” means [***] Joint Program Know-How, [***] Joint Program Know-How and Other Joint Program
Know-How. 
 1.102 “Joint Program Patents” means [***] Joint Program Patents, [***] Joint Program Patents and Other Joint
Program Patents. 
 1.103 “Joint Program Technology” means [***] Joint Program Technology, [***] Joint Program Technology
and Other Joint Program Technology. 
 1.104 “Joint Research Committee” or “JRC” has the meaning set forth
in Section 3.1.1. 
 1.105 “Know-How” means intellectual property, data, results, pre-clinical and clinical
protocols and data from studies and Clinical Trials, chemical structures, chemical sequences, information, inventions, know-how, formulas, trade secrets, techniques, methods, processes, procedures and developments, whether or not patentable;
provided that Know-How does not include Patents claiming any of the foregoing. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 11 

 1.106 “Knowledge” means [***] of [***] after [***]. 

1.107 “Liability” has the meaning set forth in Section 10.1. 

1.108 “Licensed Agent” means a product comprising (a) [***], where such [***], or any portion thereof is [***] or (b) [***]
by such [***]. 
 1.109 “Licensed Know-How” means (a) CRISPR Background Know-How, (b) CRISPR Program Know-How and (c)
CRISPR’s interest in the Joint Program Know-How. 
 1.110 “Licensed Patents” means (a) CRISPR Background Patents, (b)
CRISPR Platform Technology Patents, (c) CRISPR Program Patents, (d) [***] Patents (until [***]) and (e) CRISPR’s interest in the Joint Program Patents. 

1.111 “Licensed Technology” means, subject to Section 5.3.2 and Section 7.6.6, any and all Licensed
Patents and Licensed Know-How. 
 1.112 “Major Market Country” means any one of the following countries: [***]. 

1.113 “Manufacture” or “Manufactured” or “Manufacturing” means activities directed to
making, having made, producing, manufacturing, processing, filling, finishing, packaging, labeling, quality control testing and quality assurance release, shipping or storage of a product. 

1.114 “Marketing Approval” means, with respect to a Product in a particular jurisdiction, all approvals, licenses,
registrations or authorizations necessary for the Commercialization of such Product in such jurisdiction, including, with respect to the United States, approval of an Approval Application for such Product by the FDA and with respect to the European
Union, approval of an Approval Application for such Product by the European Commission. 
 1.115 “Materials” means all
biological materials or chemical compounds arising out of a Party’s activities under this Agreement or otherwise provided by a Party for use by the other Party to conduct activities pursuant to this Agreement, including Licensed Agents,
Clinical Trial samples, cell lines, assays, viruses and vectors. 
 1.116 “NDA” means a new drug application that is
submitted to the FDA for marketing approval for a Licensed Agent or Product, pursuant to 21 C.F.R. § 314.3. 
 1.117 “Net
Sales” means the gross invoiced price for Products sold by Vertex, its Affiliates or Sublicensees (the “Selling Party”) to Third Parties, less the following deductions from such gross amounts: 

(a) credits or allowances, if any are actually allowed, on account of price adjustments, recalls, claims, damaged goods, rejections or returns
of items previously sold (including product returned in connection with recalls or withdrawals) and amounts written off by reason of uncollectible debt, provided that if the debt is thereafter paid, the corresponding amount shall be added to
the Net Sales for the period during which it is paid; 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 12 

 (b) import taxes, export taxes, excise taxes (including annual fees due under Section 9008
of the United States Patient Protection and Affordable Care Act of 2010 (Pub. L. No. 111-48)), sales taxes, value-added taxes, consumption taxes, duties or other taxes levied on, absorbed, determined or imposed with respect to such sales (excluding
income or net profit taxes or franchise taxes of any kind), to the extent not reimbursed by a non-related party; 
 (c) insurance, customs
charges, freight, shipping and other transportation costs incurred in shipping product to such non-related parties, to the extent incurred by a Selling Party and not reimbursed by a non-related party; 

(d) reasonable discounts (including trade, quantity and cash discounts) actually allowed, cash and non-cash coupons, retroactive price
reductions, and charge back payments and rebates granted to any non-related party (including to governmental entities or agencies, purchasers, reimbursers, customers, Distributors, wholesalers, and group purchasing organizations and managed care
organizations (and other similar entities and institutions)); and 
 (e) rebates (or their equivalent), administrative fees, chargebacks and
retroactive price adjustments and any other similar allowances granted to non-related Parties (including to Governmental Authorities, purchasers, reimbursers, customers, Distributors, wholesalers, and managed care organizations (and other similar
entities and institutions)) which effectively reduce the gross invoiced sales price of the Product. 
 Generally, only items that are
deducted from the Selling Party’s gross invoiced sales price of Product(s), as included in the Selling Party’s published financial statements and that are in accordance with GAAP, applied on a consistent basis, will be deducted from such
gross invoiced sales price for purposes of the calculation of Net Sales. However, compulsory payments required by federal or state governments based upon sales volume or market share of Products (but for clarity excluding taxes on the Selling
Party’s net income), to the extent borne by the Selling Party, will be deducted from “Net Sales” regardless of its classification in the Selling Party’s published financial statements; provided that any such deduction will
be limited to that share of such compulsory payment proportional to the share of the total sales volume or market share of the Selling Party used to compute the compulsory payment represented by applicable Net Sales of Products. 

A qualifying amount may be deducted only once regardless of the number of the preceding categories that describe such amount. If a
Selling Party makes any adjustment to such deductions after the associated Net Sales have been reported pursuant to this Agreement, the adjustments and payment of any royalties due will be reported with the next quarterly report. Sales between
or among Vertex, its Affiliates and Sublicensees will be excluded from the computation of Net Sales if such sales are not intended for end use, but Net Sales will include the subsequent final sales to Third Parties by Vertex or any such Affiliates
or Sublicensees. A Product will not be deemed to be sold if the Product is provided free of charge to a Third Party in reasonable quantities as a sample consistent with industry standard promotional and sample practices. For clarity,
[***]. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 13 

 If a sale, transfer or other disposition with respect to Products involves consideration other
than cash or is not at arm’s length, then the Net Sales from such sale, transfer or other disposition will be calculated on the [***]. 

Solely for purposes of calculating Net Sales, if Vertex or its Affiliates or any permitted Sublicensee sells a Product in the form of a
combination product containing a Licensed Agent and one or more other therapeutically or prophylactically active ingredients or delivery devices (whether combined in a single formulation or package, as applicable, or formulated separately but
packaged under a single label approved by a Regulatory Authority and sold together for a single price) (a “Combination Product”), Net Sales of such Combination Product for the purpose of determining the payments due to CRISPR
pursuant to this Agreement will be calculated by multiplying actual Net Sales of such Combination Product as determined in the first paragraph of the definition of “Net Sales” by the fraction A/(A+B) where [***]. The weighted average
invoice prices referenced above will be calculated with reference to the prevailing prices during the applicable Calendar Quarter in those top selling countries that equate to [***] of Net Sales of the applicable Product in the Territory, with the
prices weighted in the calculation to reflect the actual relative sales value of the Product in each of the countries to which the calculation relates. If it is not possible to determine the fraction A/(A+B) based on the criteria specified in
the preceding sentence (e.g., if a Product component is not sold separately), the Parties shall determine Net Sales for the Product in such Combination Product in good faith by mutual agreement [***]. 

1.118 “[***]” has the meaning set forth in Section 7.6.2(a). 

1.119 “Non-Breaching Party” means the Party that believes the other Party is in material breach of this Agreement. 

1.120 “Non-Disclosing Party” has the meaning set forth in Section 12.5.3. 

1.121 “Option” has the meaning set forth in Section 4.1.1. 

1.122 “Option Cap” has the meaning set forth in Section 4.1.1. 

1.123 “Option Deadline” has the meaning set forth in Section 4.1.1. 

1.124 “Option Exercise” means, with respect to a Collaboration Target, Vertex’s exercise of an Option as provided in
Section 4.1.1; provided, that if Vertex notifies CRISPR that an HSR Filing is required as provided, in Section 4.1.1, Option Exercise will not occur until the HSR Clearance Date. 

1.125 “Option Exercise Data Package” means, with respect to a Collaboration Program, a data package containing the
information set forth on Schedule C. 
 1.126 “Other Joint Program Know-How” has the meaning set forth in
Section 8.1.2(e). 
 1.127 “Other Joint Program Patents” has the meaning set forth in
Section 8.1.2(e). 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 14 

 1.128 “Other Joint Program Technology” has the meaning set forth in
Section 8.1.2(e). 
 1.129 “Out-of-Pocket Costs” means, with respect to a Party, costs and expenses paid by
such Party to Third Parties (or payable to Third Parties and accrued in accordance with GAAP), other than Affiliates or employees of such Party. 

1.130 “Party” or “Parties” has the meaning set forth in the Preamble. 

1.131 “Patent Coordinator” has the meaning set forth in Section 8.3. 

1.132 “Patent Costs” means the reasonable fees and expenses paid to outside legal counsel, and filing, maintenance,
disbursement and other reasonable Out-of-Pocket Costs paid to Third Parties, in connection with the Prosecution and Maintenance of Patents. 

1.133 “Patents” means the rights and interests in and to issued patents and pending patent applications in any country,
jurisdiction or region (including inventor’s certificates and utility models), including all provisionals, non-provisionals, substitutions, continuations, continuations-in-part, divisionals, renewals and all patents granted thereon, and all
reissues, reexaminations, extensions, confirmations, revalidations, registrations and patents of addition thereof, including patent term extensions and supplementary protection certificates, international patent applications filed under the Patent
Cooperation Treaty (PCT) and any foreign equivalents to any of the foregoing. 
 1.134 “Person” means an individual, sole
proprietorship, partnership, limited partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, incorporated association, joint venture or similar entity or organization, including
a government or political subdivision or department or agency of a government. 
 1.135 “Phase 2 Clinical Trial” means any
human Clinical Trial conducted in patients that is intended to provide preliminary evidence suggesting effectiveness of the drug, including Clinical Trials described in 21 C.F.R. §312.21(b), or, with respect to a jurisdiction other than the
United States, a similar Clinical Trial. 
 1.136 “Phase 3 Clinical Trial” means, with respect to a Product, a pivotal
Clinical Trial in humans performed to gain evidence with statistical significance of the efficacy of such Product in a target population, and to obtain expanded evidence of safety for such Product that is needed to evaluate the overall benefit-risk
relationship of such Product, to form the basis for approval of an Approval Application by a Regulatory Authority and to provide an adequate basis for physician labeling, as described in 21 C.F.R. 312.21(c), as amended from time to time, or the
corresponding regulations in jurisdictions other than the United States. 
 1.137 “Price Approval” means, in any country
where a Governmental Authority authorizes reimbursement for, or approves or determines pricing for, pharmaceutical products, receipt (or, if required to make such authorization, approval or determination effective, publication) of such reimbursement
authorization or pricing approval or determination. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 15 

 1.138 “Proceeding” means an action, suit or proceeding. 

1.139 “Product” means any pharmaceutical product, medical therapy, preparation, substance, or formulation comprising or
employing, in whole or in part, a Licensed Agent. All Products comprising the same Licensed Agent(s) (and no additional Licensed Agents) will be considered the same Product under this Agreement. 

1.140 “[***] Claim” means a claim in any Patent that [***]. 

1.141 “Product Development & Commercialization Plan” has the meaning set forth in Section 6.4. 

1.142 “Prosecution and Maintenance” or “Prosecute and Maintain” means, with regard to a Patent, the
preparing, filing, prosecuting and maintenance of such Patent, as well as handling re-examinations and reissues with respect to such Patent, together with the conduct of interferences, the defense of oppositions and other similar proceedings with
respect to the particular Patent. For clarification, “Prosecution and Maintenance” or “Prosecute and Maintain” will not include any other enforcement actions taken with respect to a Patent. 

1.143 “[***] Patent” has the meaning set forth in Section 8.2.2. 

1.144 “Receiving Party” has the meaning set forth in Section 12.1. 

1.145 “Regulatory Approval” means the technical, medical and scientific licenses, registrations, authorizations and approvals
(including approvals of Approval Applications, supplements and amendments, pre- and post- approvals, and labeling approvals) of any Regulatory Authority, necessary for the Research, Development, clinical testing, commercial manufacture,
distribution, marketing, promotion, offer for sale, use, import, export or sale of a pharmaceutical product in a regulatory jurisdiction, including Marketing Approval. 

1.146 “Regulatory Authority” means, with respect to a country in the Territory, any national (e.g., the FDA),
supra-national (e.g., the European Commission, the Council of the European Union, or the EMA), regional, state or local regulatory agency, department, bureau, commission, council or other Governmental Authority involved in the granting of Regulatory
Approvals or Price Approvals for pharmaceutical products in such country or countries. 
 1.147 “Regulatory Filings” means,
collectively: (a) all INDs, Approval Applications, establishment license applications, Drug Master Files, applications for designation as an “Orphan Licensed Product(s)” under the Orphan Drug Act, for “Fast Track”
status under Section 506 of the FD&C Act (21 U.S.C. § 356) or for a Special Protocol Assessment under Section 505(b)(4)(B) and (C) of the FD&C Act (21 U.S.C. § 355(b)(4)(B)) and all other similar filings (including
counterparts of any of the foregoing in any country or region in the Territory); (b) any applications for Regulatory Approval or Price Approval and other applications, filings, dossiers or similar documents submitted to a Regulatory Authority in any
country for the purpose of obtaining Regulatory Approval or Price Approval from that Regulatory Authority; (c) all supplements and amendments to any of the foregoing; and (d) any correspondence with Regulatory Authorities in connection with any of
the foregoing. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 16 

 1.148 “Research” means conducting research activities to discover and advance
Licensed Agents and Products, including pre-clinical studies and optimization, but specifically excluding Development and Commercialization. When used as a verb, “Researching” means to engage in Research. 

1.149 “Research Budget” has the meaning set forth in Section 2.2. 

1.150 “Research Costs” means the costs and expenses that are actually incurred by or on behalf of CRISPR and specifically
identifiable or specifically allocable to the Research activities conducted under a Research Plan (including Continuation Research) or an Additional Research Plan, including: (a) CRISPR’s and its Affiliates fully absorbed internal costs with
respect to such activities; and (b) all Out-of-Pocket Costs incurred by CRISPR or its Affiliates, including payments made to Third Parties with respect to such Research activities (except to the extent that such costs have been included in internal
costs). CRISPR’s fully absorbed internal costs will be determined at the [***]. All other costs will be determined from the books and records of CRISPR and its Affiliates maintained in accordance with GAAP. 

1.151 “Research Plan” means each plan meeting the requirements set forth in Section 2.2 to design and optimize
Licensed Agents and Products for a specified Target and to generate the data and information required to prepare the applicable Option Exercise Data Package. 

1.152 “Research Term” has the meaning set forth in Section 2.4. 

1.153 “Residual Knowledge” means knowledge, techniques, experience and Know-How that are (a) reflected in any Confidential
Information owned or Controlled by the Disclosing Party and (b) retained in the unaided memory of any authorized representative of the Receiving Party after having access to such Confidential Information. A Person’s memory will be considered to
be unaided if the Person has not intentionally memorized the Confidential Information for the purpose of retaining and subsequently using or disclosing it. In no event, however, will Residual Knowledge include any knowledge, techniques, experience
and Know-How to the extent (at any time, for such time) within the scope of any valid patent claim owned or Controlled by the Disclosing Party. 

1.154 “Royalty Term” means, with respect to a Product in a country, the period commencing on the first sale of such Product
in such country and ending upon the later of: (a) the expiration of the last Valid Claim of a Licensed Patent that Covers such Product in such country; (b) ten years after the First Commercial Sale of such Product in such country; or (c) expiration
of all applicable regulatory exclusivity periods, including data exclusivity, in such country with respect to such Product. 
 1.155
“Safety Data Exchange Agreement” has the meaning set forth in Section 6.6.3. 
 1.156 “Selling
Party” has the meaning set forth in Section 1.117. 
 1.157 “Setoff Amount” has the meaning set forth in
Section 11.3.3. 
 1.158 [***]. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 17 

 1.159 “Shared Product” has the meaning set forth in
Section 6.1.2(a). 
 1.160 “Subcontractor” has the meaning set forth in Section 2.9. 

1.161 “Sublicense” means, directly or indirectly, to sublicense, grant any other right with respect to, or agree not to
assert, any licensed right under any Patent, Know-How or other intellectual property right. When used as a noun, “Sublicense” means any agreement to Sublicense. 

1.162 “Sublicensee” means an Affiliate or Third Party, other than a Distributor, to whom Vertex (or a Sublicensee or
Affiliate) sublicenses any of the rights granted to Vertex hereunder during the Agreement Term. 
 1.163 “Substitution Cap”
has the meaning set forth in Section 2.3.2(a). 
 1.164 “Target” means a [***] the [***] of which is associated
with a human disease and which is to be edited, [***] in order to treat, ameliorate or prevent such disease. 
 1.165 “Target
Cap” has the meaning set forth in Section 2.3.2(a). 
 1.166 “Target Selection Period” means the
Initial Target Selection Period and the Final Target Selection Period. 
 1.167 “[***] Joint Program Know-How” has the
meaning set forth in Section 8.1.2(c). 
 1.168 “[***] Joint Program Patents” has the meaning set forth in
Section 8.1.2(c). 
 1.169 “[***] Joint Program Technology” has the meaning set forth in
Section 8.1.2(c). 
 1.170 “Targeting” means [***] a Target or the [***] thereof. 

1.171 “Territory” means all countries of the world. 

1.172 “Third Party” means any Person other than Vertex, CRISPR or their respective Affiliates. 

1.173 “Third Party Obligations” means any non-financial encumbrances, obligations, restrictions, or limitations imposed by a
CRISPR In-License Agreement or [***] that are required to be passed through to a sublicensee and relate to a Product or a Collaboration Target, including field or territory restrictions, covenants, diligence obligations or limitations pertaining to
enforcement of intellectual property rights. 
 1.174 “United States” or “U.S.” means the fifty states of
the United States of America and all of its territories and possessions and the District of Columbia. 
 1.175 “Valid
Claim” means a claim (a) of any issued, unexpired United States or foreign Patent, which will not, in the country of issuance, have been donated to the public, disclaimed, nor held invalid or unenforceable by a court of competent
jurisdiction in an unappealed or unappealable decision, or (b) of any United States or foreign patent application, 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 18 

 
which will not, in the country in question, have been cancelled, withdrawn or abandoned. Notwithstanding the foregoing, on a country-by-country basis, a patent application pending for more than
[***] years, or [***], will not be considered to have any Valid Claim for purposes of this Agreement unless and until a patent meeting the criteria set forth in clause (a) above with respect to such application issues. 

1.176 “Vertex” has the meaning set forth in the Preamble. 

1.177 “Vertex Activities” means, under any Research Plan, any and all Research activities that Vertex agrees to conduct and
for which it is specifically designated as the responsible Party under the Research Plan. 
 1.178 “Vertex Background
Know-How” means any Know-How, other than Joint Program Know-How and Vertex Program Know-How, that (a) Vertex or any of its Affiliates Control as of the Effective Date or that comes into the Control of Vertex or any of its Affiliates during
the Agreement Term and (b) [***]. 
 1.179 “Vertex Background Patents” means any Patent, other than a Joint Program Patent
or Vertex Program Patent that (a) Vertex or any of its Affiliates Control as of the Effective Date or that comes into the Control of Vertex or any of its Affiliates during the Agreement Term and (b) [***]. 

1.180 “Vertex Indemnified Party” has the meaning set forth in Section 10.2. 

1.181 “Vertex Parent” has the meaning set forth in the Preamble. 

1.182 “Vertex Program Know-How” has the meaning set forth in Section 8.1.2(b). 

1.183 “Vertex Program Patents” has the meaning set forth in Section 8.1.2(b). 

1.184 “Vertex Program Technology” has the meaning set forth in Section 8.1.2(b). 

1.185 “Vertex Share” has the meaning set forth in Section 7.6.4. 

1.186 “Vertex Target” has the meaning set forth in Section 2.3.1. 

1.187 “Vertex Target List” has the meaning set forth in Section 2.3.1. 

1.188 “Vertex Technology” means (a) the Vertex Background Know-How, (b) the Vertex Background Patents, (c) the Vertex Program
Technology, and (d) Vertex’s interest in any Joint Program Technology. 
 1.189 “Vertex UK” has the meaning set forth
in the Preamble. 
 ARTICLE 2 

RESEARCH 
 2.1
Collaboration Overview. The Parties will collaborate by performing the activities set forth in each Research Plan for the purpose of designing and optimizing Licensed Agents and Products for Vertex (or with respect to the Shared Products, for
the Parties) to advance through Clinical Trials and bring to patients as commercial products in the Field. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 19 

 2.2 Research Plans. During the Research Term CRISPR and Vertex will conduct Collaboration
Programs, each under a separate Research Plan, focused on the design and optimization of Licensed Agents and Products for a specific Collaboration Target. The components of the initial Research Plans to be developed for the Collaboration Targets are
attached hereto as Schedule D. Each Research Plan will be generally consistent with such initial Research Plans with respect to the scope and content thereof. The Collaboration Program Working Group will update each ongoing Research Plan
and submit the updated Research Plans to the JRC for its review and approval on an as-needed basis, but in no event less than once every [***]. Each Research Plan will include (a) a description of the process and criteria to be used by the Parties
to design and optimize Licensed Agents to be used in Products directed to the applicable Collaboration Target, (b) projected timelines for activities under the Research Plan, (c) a budget for activities under such Research Plan (each, a
“Research Budget”), (d) decision points and associated criteria for the Research Plan, including, without limitation, pre-specified criteria for establishing the elements of the Option Exercise Data Package for the applicable
Collaboration Target, (e) a description of which Party will be responsible for each activity under the Research Plan; provided that unless otherwise specified in the applicable Research Plan, each Party will be responsible for the activities
for which it is listed under the heading “Responsible Party” on Schedule C, and (f) the content of an Option Exercise Data Package, and, to the extent practicable, the specific criteria for acceptance of the Option
Exercise Data Package (e.g., [***]). 
 2.3 Target Selection. 

2.3.1 Vertex Target List. The Collaboration Targets will be selected from a list of Targets selected by Vertex (each such Target, a
“Vertex Target,” and collectively, the “Vertex Targets” and such list, the “Vertex Target List”). As of the Effective Date, the initial Collaboration Targets and initial Vertex Targets are included
on Schedule B. 
 2.3.2 Process to Update the Vertex Target List. 

(a) Subject to Section 2.3.2(c), Vertex may [***] Targets as Vertex Targets on the Vertex Target List [***] a
Target for a Vertex Target on the Vertex Target List (subject to the [***] Cap) upon written notice to CRISPR; provided that (i) [***], and (ii) [***] (the “Target Cap”). If the [***] to the Vertex Target List would cause the
number of Vertex Targets on the Vertex Target List to [***] or if Vertex is [***] during the Final Target Selection Period, such notice also will specify the Vertex Target to be [***] on the Vertex Target List by such [***] Target. Vertex shall be
permitted to [***] of (A) [***] and (B) [***] ((A) or (B), as applicable, the “[***] Cap”). 
 (b) For the
avoidance of doubt, (1) after the Initial Target Selection Period, Vertex may [***] Targets as Vertex Targets and (2) after the first [***] of the Final Target Selection Period Vertex may [***] Targets within the Vertex Target List, in each case,
[***]. The Parties will in good faith discuss any request by Vertex during the Research Term to [***] Targets on the Vertex Target List made at any time when Vertex does not have the right to make such [***] under Section 2.3.2(a). 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 20 

 (c) If Vertex proposes to [***] a CRISPR Reserved Target to the Vertex Target
List or [***] a CRISPR Reserved Target for a Vertex Target on the Vertex Target List pursuant to Section 2.3.2(a) above, such [***] shall not be effective, and CRISPR shall notify Vertex in writing within [***] after the date on which
CRISPR receives notice of the proposed [***], that such Target is a CRISPR Reserved Target. CRISPR shall, if requested by Vertex in writing, [***] and, if CRISPR [***] that such Target is a [***] based, in whole or in part, on [***], it shall so
notify Vertex. If after providing [***] Vertex will so notify CRISPR, then CRISPR will, [***]. If CRISPR [***] that such Target is a [***] under [***], Vertex may [***]. The [***] shall promptly [***]. The [***]; provided, that if,
notwithstanding [***], CRISPR believes that a Target is a CRISPR Reserved Target under paragraph 3 of Schedule A, CRISPR may pursue [***] solely with respect to [***]. If a proposed Target is not [***] due to the provisions of this
Section 2.3.2(c), such Target will not count against the Substitution Cap (if applicable) and the Vertex Target on the Vertex Target List that was to be replaced by such Target shall remain on the Vertex Target List (if applicable). If,
during the Research Term, any Target excluded from the Vertex Target List pursuant to this Section 2.3.2(c) ceases to be a CRISPR Reserved Target, CRISPR will promptly notify Vertex that such Target is no longer a CRISPR Reserved Target,
and, thereafter, Vertex may at its option (exercisable at any time within [***] of such notice) add such Target to the Vertex Target List, subject to the limitations set forth in this Section 2.3.2. Vertex may remove Targets from the
Vertex Target List upon written notice to CRISPR and thereafter such removed Target will no longer be a Vertex Target (unless such Target is later added again as a Vertex Target in accordance with this Section 2.3.2). 

2.3.3 Collaboration Target Selection. Vertex may elect to designate a Vertex Target as a Collaboration Target at any time during the
Research Term upon written notice to CRISPR. Within [***] after the designation of a Collaboration Target, the Collaboration Program Working Group will be formed and will provide the JRC an initial draft Research Plan for such Collaboration Target.
Subject to Section 3.1.3, the JRC will review such plan and agree upon a final Research Plan for such Collaboration Target. Collaboration Targets continue to be included as Vertex Targets for purposes of the Target Cap. 

2.3.4 [***]. The Parties acknowledge that [***] is included as an Initial Collaboration Target [***]. During the Research Term, CRISPR
will periodically disclose to Vertex any material findings generated by CRISPR in connection with CRISPR’s internal research supporting the conclusion [***]. Following Vertex’s receipt of such data, Vertex may elect to [***], as
applicable. If any such [***] (other than [***]) is [***], (a) Vertex will [***] and (b) the Collaboration Program Working Group will prepare a Research Plan for [***] and submit such plan to the JRC for its approval as provided in
Section 2.3.3. 
 2.4 Research Term. The term for the conduct of the Collaboration Programs (the “Research
Term”) will begin on the Effective Date and will end on the earlier of (a) the date on which [***] and [***] with respect to six Collaboration Targets and (b) the [***] of the Effective Date; provided, however, that if any
Research activities under a Research Plan (including any Continuation Research) are incomplete on such [***] (and Vertex has not [***]), the Parties will complete such activities in accordance with the applicable Research Plan, and the Research Term
will be extended with respect to such Research Plan(s) for up to [***] to complete such activities 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 21 

 
or [***]; and provided further, that during any portion of the Research Term after the [***] of the Effective Date, the Vertex Target List will be dissolved and neither Party will have any
further obligation under this Agreement (including under Section 2.13.1) with respect to any Vertex Target that was not selected as a Collaboration Target. 

2.5 Research Activities. Following the JRC’s approval of a Research Plan, each Party will use Commercially Reasonable Efforts to
perform activities for which such Party is responsible under such Research Plan in accordance with the timelines set forth therein. Vertex will be responsible for carrying out all Vertex Activities under a Research Plan, and CRISPR will be
responsible for carrying out all CRISPR Activities under each Research Plan. Each Party will, and will require its Affiliates and Subcontractors to, comply with all Applicable Laws in its and their conduct of the activities under a Research Plan,
including where appropriate cGMP, GCP and GLP (or similar standards). No more than [***] Research Plans shall be conducted at any given time during the Initial Target Selection Period and no more than [***] Research Plans shall be conducted at any
given time during the Final Target Selection Period. CRISPR will dedicate such number of FTEs as is reasonably required to perform the CRISPR Activities under the Research Plans during the Target Selection Period, which CRISPR currently anticipates
will be no fewer than an average of [***] FTEs to the performance of Research Plans during the Initial Target Selection Period and no fewer than an average of [***] FTEs to the performance of Research Plans during the Final Target Selection Period.

 2.6 Option Exercise Data Package. Within [***] after completion of activities under a Research Plan, CRISPR will provide Vertex
with an Option Exercise Data Package for the relevant Collaboration Program. Following Vertex’s receipt of the Option Exercise Data Package for a Collaboration Program, Vertex may exercise the Option for the relevant Collaboration Target as
provided in Section 4.1; provided, that if, within [***] after receipt of the Option Exercise Data Package, Vertex notifies the JRC [***] that [***] with respect to [***] should be [***] of such [***] (such notice, a
“[***]” and such [***]), and either (a) the requested [***] can reasonably be [***] within [***] following the initiation thereof through the use of [***] or (b) the requested [***] cannot reasonably be [***] within [***] following
the initiation thereof, but the Parties mutually agree to [***], the Collaboration Program Working Group will meet and in good faith determine such amendments to the Research Plan as are required to define the activities to be conducted in
connection with such Continuation Research and will submit such amendments to the JRC for approval. Following the JRC’s approval of such amendment, (i) the Parties will conduct the Continuation Research in accordance with
Section 2.5, subject to any limitations or conditions that may be agreed to by the Parties in agreeing to conduct the Continuation Research under the foregoing clause (b), (ii) Vertex will fund such activities as provided in
Section 2.10 and (iii) the Collaboration Program Working Group will monitor performance of such Continuation Research and meet no less than [***] (or more frequently as determined by the JRC) to discuss the status thereof. Within [***]
following the completion of the Continuation Research, CRISPR will provide Vertex with a revised Option Exercise Data Package reflecting the results of the Continuation Research. CRISPR will provide to Vertex any additional Know-How or data
Controlled by CRISPR relating to the applicable Collaboration Target as Vertex may reasonably request after delivery of the Option Exercise Data Package. For clarity, the preceding sentence shall not impose any obligation on CRISPR to generate
additional Know-How or data. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 22 

 2.7 End of Research Term. At the end of the Research Term, (a) neither CRISPR nor Vertex
will have an obligation to perform any additional activities under any Research Plan and (b) CRISPR’s obligations and Vertex’s rights under this Agreement with respect to any Vertex Target that has not been designated as a Collaboration
Target will terminate and the Vertex Target list will be dissolved. For clarity, the expiration of the Research Term will not affect Vertex’s rights or CRISPR’s obligations with respect to any Collaboration Target for which Vertex has
exercised its Option as provided in Section 4.1 or for which the Option Deadline has not occurred. 
 2.8 Briefing the
JRC. At each regularly scheduled meeting of the JRC, which shall be no less frequent than [***], each Party will provide detailed progress updates on activities conducted under each Research Plan along with a summary of data associated with such
Research activities under such Research Plans, which updates and summaries will be provided to JRC members at least [***] in advance of any JRC meeting. The agenda for meetings of the JRC will be set by the JRC representatives. Each Collaboration
Program will be reviewed by the JRC at minimum every [***]. 
 2.9 Subcontractors. CRISPR may engage consultants, subcontractors, or
other vendors (each, a “Subcontractor”) to perform any work under a Research Plan with Vertex’s prior written consent; provided, that [***] or (b) identified on Schedule E. Vertex may engage Subcontractors to
perform Vertex Activities. Each contract between a Party and a Subcontractor will be consistent with the provisions of this Agreement (including ARTICLE 8 and ARTICLE 12). Each Party will be responsible for the effective and
timely management of and payment of its Subcontractors. The engagement of any Subcontractor in compliance with this Section 2.9 will not relieve the applicable Party of its obligations under this Agreement or the Research Plan. Each
Party will be solely responsible for any taxes, including income, withholding, payroll, VAT, sales tax or the like, that arise from the use of a Subcontractor. 

2.10 Research Costs. Vertex will reimburse CRISPR for Research Costs incurred by CRISPR in accordance with Section 7.4. All
costs incurred by Vertex in connection with Vertex Activities will be borne solely by Vertex. 
 2.11 Transfer of Materials. To
facilitate the conduct of activities under each Research Plan, each Party will provide any Materials required by the Research Plan to be transferred to the other Party, and each Party may provide to the other Party certain other Materials. All
Materials (a) will remain the sole property of the supplying Party, (b) will be used only in the fulfillment of the receiving Party’s obligations or exercise of rights under this Agreement, (c) will remain solely under the control of the
receiving Party, (d) will not be used or delivered by the receiving Party to or for the benefit of any Third Party (other than a permitted Subcontractor or Sublicensee) without the prior written consent of the supplying Party, and, (e) except with
respect to any Materials provided by CRISPR to Vertex hereunder for use in a Clinical Trial, will not be used in research or testing involving human subjects, unless expressly agreed. Subject to Section 9.2, all Materials supplied under
this Section 2.11 are supplied “as is”, with no warranties of fitness for a particular purpose and must be used with prudence and appropriate caution in any experimental work, since not all of their characteristics may be
known. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 23 

 2.12 Additional Research. At any time following exercise of an Option for a Collaboration
Target, Vertex may request that CRISPR provide additional Research services to Vertex, with respect to such Collaboration Target (“Additional Research”). Upon such request, the Parties will meet and discuss in good faith whether
CRISPR is able to provide those services and a mutually-agreeable plan (the “Additional Research Plan”), including a timeline, and budget, which will be subject to the approval of the JRC (the “Additional Research
Budget”) therefor; provided that CRISPR may, in its sole discretion, refuse to perform Additional Research. Vertex will reimburse CRISPR for Research Costs incurred in performing activities under the Additional Research Plan as
provided in Section 7.4. CRISPR will provide Vertex with the results of any Additional Research promptly following the completion thereof. 

2.13 Exclusivity Covenants. 

2.13.1 [***]. Subject to Section 2.13.4(a) and Section 2.13.5, during [***], each Party agrees that, except in
the performance of its obligations or exercise of its rights under this Agreement, [***] with respect to the discovery, research, development, manufacture or commercialization in the Field of (a) [***] or (b) [***]. For the avoidance of doubt, each
Party’s obligations under this Section 2.13.1 will terminate (i) with respect to [***] and (ii) with respect to [***]. 

2.13.2 [***]. Subject to Section 2.13.4(a) and Section 2.13.5, during [***], each Party agrees that, except in
the performance of its obligations or exercise of its rights under this Agreement, [***] with respect to the discovery, research, development, manufacture or commercialization in the Field of (a) [***] or (b) [***]. For the avoidance of doubt, each
Party’s obligations under this Section 2.13.2 will terminate with respect to a [***] upon [***]. 
 2.13.3 [***].
Subject to Section 2.13.4(a) and Section 2.13.5, commencing on the Effective Date and [***] hereunder, [***] with respect to the discovery, research, development, manufacture or commercialization in the Field of (a) [***] or
(b) [***]; provided, however, that notwithstanding the foregoing, during such period, [***]. 
 2.13.4 Cystic Fibrosis.

 (a) Notwithstanding anything to the contrary contained herein, the provisions of Sections 2.13.1,
2.13.2 and 2.13.3 will not apply with respect to the discovery, research, development, manufacture or commercialization of any product for the treatment of cystic fibrosis by Vertex or its Affiliates and Vertex and its Affiliates will
not be restricted from conducting such activities. 
 (b) During the Agreement Term, CRISPR agrees that neither it nor any of
its Affiliates will work independently or for the benefit of or with any Third Party (including the grant of any license to any Third Party) with respect to the discovery, research, development, manufacture or commercialization of any product
containing (a) [***] or (b) [***], provided that there is [***]. 
 2.13.5 Delivery Technology. Notwithstanding the
provisions of Sections 2.13.1, 2.13.2, 2.13.3 and 2.13.4(b), either Party may, independently or for the benefit of or with any Third Party, discover, research, develop, manufacture or commercialize technology for use
in [***]. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 24 

 2.13.6 Acquisition of Distracting Product. Notwithstanding the provisions of
Sections 2.13.1, 2.13.2, 2.13.3 and 2.13.4(b), if a Party or any of its Affiliates (such Party, the “Distracted Party”) acquires rights to research, develop or commercialize a Distracting Product in
the Field as the result of a merger, acquisition or combination with or of a Third Party other than a Change of Control (each, an “Acquisition Transaction”) and, on the date of the completion of such Acquisition Transaction, such
Distracting Product is being researched, developed or commercialized and such activities would, but for the provisions of this Section 2.13.6, constitute a breach of Section 2.13.1, 2.13.2, 2.13.3 or
2.13.4(b), as applicable, then the Distracted Party or such Affiliate will, within [***] after the completion of such Acquisition Transaction notify the other Party of such acquisition and either: 

(a) request that such Distracting Product be included in this Agreement on terms to be negotiated, in which case, the Parties
will discuss the matter in good faith for a period of no less than [***] (or such longer period as may be agreed by the Parties) and, if unable to reach agreement on the terms on which such Distracting Product would be included hereunder within such
period, the Distracted Party will elect to take the action specified in either clause (b) or (c) below; provided that the time periods specified in such clauses will be tolled for so long as the Parties are engaged in discussion under this
clause (a); 
 (b) notify the other Party that the Distracted Party or its Affiliate will Divest its rights to such
Distracting Product, in which case, within [***] after the completion of the Acquisition Transaction, the Distracted Party or its Affiliate will Divest such Distracting Product; or 

(c) notify the other Party in writing that it is ceasing all such research, development and commercialization activities with
respect to the Distracting Product, in which case, within [***] thereafter the Distracted Party and its Affiliates will cease all such activities. 

During the discussion period under clause (a), prior to the time of Divestiture pursuant to clause (b) or prior to the termination of
activities pursuant to clause (c), as applicable, the Distracted Party and its Affiliates will use Commercially Reasonable Efforts to segregate all research, development or commercialization activities relating to the Distracting Product from
Research, Development and Commercialization with respect to Licensed Agents or Products under this Agreement, including using Commercially Reasonable Efforts to ensure that (i) no personnel involved in performing the research, development or
commercialization of such Distracting Product have access to non-public plans or information relating to the Research, Development or Commercialization of Products (provided that management personnel may review and evaluate plans and
information regarding the Research, Development and Commercialization of Products in connection with portfolio decision-making) and (ii) no personnel involved in performing the Development or Commercialization of Products have access to non-public
plans or information relating to the Development or Commercialization of such Distracting 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 25 

 
Product (provided that management personnel may review and evaluate plans and information regarding the Development and Commercialization of such Distracting Product in connection with
portfolio decision-making). 
 2.13.7 Change of Control. If there is a Change of Control involving a Party (where such Party is the
acquired entity), the obligations of Sections 2.13.1, 2.13.2, 2.13.3 and 2.13.4(b), as applicable, will not apply to any product containing a (a) a [***] or (b) a [***], in each case, that is Controlled by the
relevant acquirer or its Affiliates that exists prior to the closing of such Change of Control; provided that (i) the acquired Party and the acquirer and its Affiliates existing immediately prior to the effective date of such Change of
Control establish and enforce internal processes, policies, procedures and systems to segregate information relating to any such product from any Confidential Information related to the Licensed Agents and Products under this Agreement, (ii) the
acquirer and its Affiliates existing immediately prior to the effective date of such Change of Control do not use, directly or indirectly, any Patents, Know-How or Confidential Information of the acquired Party (including any Patents, Know-How or
Confidential Information licensed or acquired from the other Party under this Agreement) in connection with such product, and (iii) no personnel who were employees or consultants of the acquired Party or its Affiliates at any time prior to or after
the Change of Control will conduct any activities relating to such product. 
 ARTICLE 3 

GOVERNANCE 
 3.1 Joint
Research Committee. 
 3.1.1 Formation. Within 30 days after the Effective Date, the Parties will establish a joint research
committee (the “Joint Research Committee” or “JRC”) to oversee and coordinate activities under this Agreement. The JRC will be comprised of [***] representatives from each Party, with one such representative to have
[***]. The JRC will conduct its responsibilities hereunder in good faith and with reasonable care and diligence. The JRC will meet in person at least once each Calendar Quarter on such dates and at such times and places as agreed to by the members
of the JRC. The purpose of the JRC will be to provide the members periodic updates regarding progress of activities pursuant to this Agreement and to address the matters set forth in Section 3.1.2. Each Party will be responsible for its
own expenses relating to attendance at or participation in JRC meetings. 
 3.1.2 Responsibilities. The JRC will: 

(a) review and approve any initial or amended Research Plan, including the corresponding Research Budget, the planned content
of an Option Exercise Data Package, and, to the extent practicable, the specific criteria for acceptance of the Option Exercise Data Package; 

(b) prioritize the performance of activities under the Research Plans (including Continuation Research) for Collaboration
Targets; 
 (c) provide comments and recommendations to each Party with respect to the conduct of activities under each
Research Plan; 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 26 

 (d) assist in planning and facilitating the transfer of Research responsibility
and activities from CRISPR to Vertex upon Option Exercise as needed; 
 (e) provide a forum for the Parties to discuss the
objectives and progress under each Research Plan and to exchange and review scientific information and data relating to the activities being conducted under each Research Plan; 

(f) during the [***], discuss the [***]; 

(g) during the [***], discuss the [***]; and 

(h) perform such other duties as are specifically assigned to the JRC under this Agreement. 

3.1.3 Decision-Making. The JRC members will use reasonable efforts to reach agreement on any and all matters that the JRC has the
authority to decide and endeavor to reach consensus on all such matters, taking into consideration the views of each Party. If the JRC is unable to reach consensus with respect to any such matter within [***], the matter will be referred to the
Executive Officers, who will use reasonable efforts to reach agreement on such matter. If such Executive Officers are unable to reach consensus with respect to such matter with [***] after such matter is first referred to such Executive Officers,
then [***] will have the right to make the final decision with respect to the relevant matter; provided that [***] (i) will take into reasonable consideration the recommendations and concerns raised by [***], (ii) will make such decisions in
good faith using reasonable business judgment, which will not be unreasonably delayed, and (iii) will not have the right to: (A) amend, modify or waive compliance with any term or condition of this Agreement; (B) make any decision that is expressly
stated to require the mutual agreement of the Parties; (C) resolve any claim or dispute regarding whether or in what amount a payment is owed under this Agreement; (D) exercise its final decision-making authority in a manner that would require [***]
to perform any act that [***] reasonably believes would constitute a violation of an Applicable Law; (E) make a determination that a Party is in material breach of any obligation under this Agreement or (F) amend or modify a Research Plan if
such amendment or modification would require [***] to expend additional resources, whether internal or external, including capital expenditures for which [***] as provided herein. 

3.1.4 Discontinuation of the JRC. The JRC’s authority with respect to a given Collaboration Program will continue to exist until
the first to occur of (a) the Parties mutually agreeing to terminate the JRC’s authority with respect to such Collaboration Program and (b) the completion of all activities under the Research Plan for such Collaboration Program. The JRC
will disband when it ceases to have authority over any Collaboration Program pursuant to the preceding sentence. 
 3.2 Collaboration
Program Working Group. Within [***] after Vertex designates a Vertex Target as a Collaboration Target as provided in Section 2.3.3 (or with respect to the Initial Collaboration Targets, within [***] after the Effective Date), the Parties
will form a working group (a “Collaboration Program Working Group”) comprised of an equal number of representatives from each Party having relevant expertise with respect to the given 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 27 

 
Collaboration Program. The Collaboration Program Working Group shall be chaired by a project leader from [***], whose appointment shall be subject to the reasonable approval by [***]. The
Collaboration Program Working Group will create the initial Research Plan and Research Budget, the planned content of an Option Exercise Data Package, and, to the extent practicable, the specific criteria for acceptance of the Option Exercise Data
Package for the applicable Collaboration Program. The Collaboration Program Working Group will also oversee and coordinate the performance of activities under the Research Plan for such Collaboration Program and perform such other activities as the
JRC may delegate to the Collaboration Program Working Group from time to time. Any disputes arising out of the Collaboration Program Working Group will be escalated to the JRC for resolution. 

3.3 Other Committees. The Parties may, by mutual agreement, form such other committees or working groups as may be necessary or
desirable to facilitate the activities under this Agreement. Any dispute arising from such committees or working groups will be escalated to the JRC for resolution. 

3.4 Alliance Managers. 

3.4.1 Appointment. Within [***] following the Effective Date each Party will appoint (and notify the other Party of the identity of) a
representative of such Party to act as its alliance manager under this Agreement (each an “Alliance Manager”). Each Party may replace its Alliance Manager at any time by written notice to the other Party. 

3.4.2 Specific Responsibilities. The Alliance Managers may be, but will not be required to be, members of the JRC. The Alliance
Managers will serve as the primary contact point between the Parties for the purpose of providing each Party with information regarding the other Parties’ activities pursuant to this Agreement and will have the following responsibilities: 

(a) schedule meetings of the JRC and circulate draft written minutes from each meeting within [***] after each such meeting;

 (b) facilitate the flow of information and otherwise promoting communication, coordination and collaboration between the
Parties; 
 (c) coordinate the various functional representatives of each Party, as appropriate, in developing and executing
strategies and plans for Licensed Agents and Products; 
 (d) provide a single point of communication for seeking consensus
both internally within the respective Party’s organization and between the Parties regarding key strategy and planning issues; 

(e) coordinate and facilitate budget, finance and billing activities as overseen by the JRC; and 

(f) perform such other functions as requested by the JRC. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 28 

 ARTICLE 4 

EXCLUSIVE OPTION 
 4.1
Option. 
 4.1.1 Option and Option Deadline. CRISPR hereby grants to Vertex and its Affiliates an exclusive option to obtain
the Exclusive License with respect a maximum of six Collaboration Targets (each, an “Option,” and such six Collaboration Target maximum, the “Option Cap”). Within [***] after Vertex’s receipt of an Option
Exercise Data Package for the applicable Collaboration Program (the “Option Deadline”), Vertex will notify CRISPR as to whether or not Vertex is exercising the applicable Option; provided, that if, following receipt of the
applicable Option Exercise Data Package, Vertex delivers a [***] to the JRC, the Option Deadline will be extended until the date that is [***] after Vertex’s receipt of a revised Option Exercise Data Package reflecting the results of the
Continuation Research as provided in Section 2.6. If Vertex or its designated Affiliate notifies CRISPR in writing that it wishes to exercise the applicable Option, CRISPR will, and hereby does, grant to Vertex or its designated
Affiliate the Exclusive License with respect to Licensed Agents and Products directed to such Collaboration Target and, except with respect to Collaboration Targets that are [***] with respect to such Collaboration Target; provided,
however, if Vertex determines that an HSR Filing is required to be made under the HSR Act to exercise an Option and notifies CRISPR of such determination within [***] after Vertex’s receipt of the complete Option Exercise Data Package,
the Parties will promptly file an HSR Filing in accordance with Section 4.1.2(a) and Vertex’s election to exercise the applicable Option will not be effective (and Vertex will not be obligated to make any payment under
Section 7.3.1) until the HSR Clearance Date. If Vertex fails to timely exercise an Option in accordance with this Section 4.1.1, the Option shall expire and be of no further force or effect, both Party’s obligations
under Section 2.13.1 shall terminate with respect to the relevant Collaboration Target, such Collaboration Target shall no longer be a Collaboration Target nor a Vertex Target and Vertex shall be deemed to have terminated the relevant
Collaboration Program for purposes of ARTICLE 11 of this Agreement. 
 4.1.2 HSR Compliance. 

(a) HSR Filing. If Vertex notifies CRISPR pursuant to Section 4.1.1 that an HSR Filing is required for
Vertex to receive the Exclusive License with respect to a Collaboration Target, each of Vertex and CRISPR will, within [***] after such notice from Vertex (or such later time as may be agreed to in writing by the Parties), file with the United
States Federal Trade Commission (“FTC”) and the Antitrust Division of the United States Department of Justice (“DOJ”), any HSR Filing required with respect to the transactions contemplated hereby. The Parties will
cooperate with one another to the extent necessary in the preparation of any such HSR Filing. Each Party will be responsible for its own costs and expenses (other than filing fees, which Vertex will pay) associated with any HSR Filing. 

(b) HSR Clearance. In furtherance of obtaining clearance for an HSR Filing filed pursuant to this
Section 4.1.2, CRISPR and Vertex will use their respective Commercially Reasonable Efforts to resolve as promptly as practicable any objections that may be asserted with respect to this Agreement or the transactions contemplated by 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 29 

 
this Agreement under any antitrust, competition or trade regulatory law. In connection with obtaining such HSR clearance from the FTC, the DOJ or any other governmental authority, Vertex and its
Affiliates will not be required to (i) sell, divest (including through a license or a reversion of licensed or assigned rights), hold separate, transfer or dispose of any assets, operations, rights, product lines, businesses or interest therein of
Vertex or any of its Affiliates (or consent to any of the foregoing actions); or (ii) litigate or otherwise formally oppose any determination (whether judicial or administrative in nature) by a governmental authority seeking to impose any of the
restrictions referenced in clause (i) above. 
 ARTICLE 5 

LICENSE GRANTS 
 5.1
Non-Exclusive Research License from CRISPR to Vertex. Subject to the terms and conditions of this Agreement, CRISPR and, following the Subsidiary Transfer, the CRISPR Subsidiary, hereby grants Vertex UK and its Affiliates a non-exclusive,
royalty-free, fully paid-up, worldwide license, with no right to grant sublicenses except to permitted Subcontractors under Section 2.9, to use the Licensed Technology solely to perform the Vertex Activities during the Research Term.

 5.2 Non-Exclusive Research and Development License from Vertex to CRISPR. Subject to the terms and conditions of this Agreement,
Vertex hereby grants to CRISPR a non-exclusive, royalty-free, fully paid-up, worldwide license, with no right to grant sublicenses except to permitted Subcontractors under Section 2.9, under the Vertex Technology solely to perform Research
under the Research Plan for each Collaboration Program during the Research Term. 
 5.3 License Grants to Vertex. 

5.3.1 Development and Commercialization Licenses. Subject to the terms and conditions of this Agreement, on a Collaboration
Target-by-Collaboration Target basis, effective upon Vertex’s exercise of the Option for a particular Collaboration Target in accordance with this Agreement, CRISPR and, following the Subsidiary Transfer, the CRISPR Subsidiary, grants to Vertex
UK and its Affiliates an exclusive (subject to Section 6.1.2(b)), royalty-bearing, license under CRISPR’s and its Affiliates’ interest in the Licensed Technology to Research, Develop, Manufacture, have Manufactured, use, keep,
sell, offer for sale, import, export and Commercialize Licensed Agents and Products directed to the relevant Collaboration Target in the Field in the Territory (such license, the “Exclusive License”). Vertex may grant sublicenses
through multiple tiers of sublicense to one or more Sublicensees of any and all rights granted to Vertex by CRISPR under the Exclusive License; provided that Vertex shall only be permitted to grant a Sublicense to conduct any
Commercialization activities with respect to a Licensed Agent or Product [***] with CRISPR’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed; and provided, further, that no such consent
will be needed with respect to any Sublicense (a) granted to a Third Party to conduct Commercialization activities with respect to a Licensed Agent or Product in [***] (and not any other [***]), (b) any Sublicense granted to a Distributor or other
Third Party conducting activities on Vertex’s behalf or (c) any Sublicensee granted to a Third Party to Manufacture Licensed Agent or Product on 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 30 

 
Vertex’s behalf. Each such Sublicense will be subject and subordinate to, and consistent with, the terms and conditions of this Agreement and will require such Sublicensee to comply with all
applicable terms of this Agreement and all Third Party Obligations. Vertex shall promptly provide CRISPR with a copy of the fully executed Sublicense agreement covering any sublicense granted hereunder (which copy may be redacted to remove
provisions which are not necessary to monitor compliance with this Section 5.3.1). Notwithstanding the grant of any Sublicense, Vertex shall remain primarily liable to CRISPR for the performance of all of Vertex’s obligations under,
and Vertex’s compliance with all provisions of, this Agreement. 
 5.3.2 License Conditions; Limitations. Subject to
Section 7.6, any rights and obligation hereunder, including the rights granted pursuant to any Exclusive License with respect to a Collaboration Target, are subject to and limited by any applicable Third Party Obligations to the extent
the provisions of such obligations or agreements are specifically disclosed to Vertex in writing (or via electronic data room) (a) with respect to Third Party Obligations existing as of the Effective Date, prior to the Effective Date, (b) with
respect to Third Party Obligations arising between the Effective Date and the delivery of the relevant Option Exercise Data Package, at the time of delivery of the Option Exercise Data Package and (c) with respect to Third Party Obligations arising
after the date the applicable Exclusive License is granted hereunder, on or prior to the date on which such Third Party Obligations arise. Vertex will have the right to [***] any Third Party Patents and Know-How to which such Third Party Obligations
[***] by providing CRISPR [***] (with respect to any Third Party Obligations existing at the time the relevant Option Exercise Data Package is delivered) or [***], in which case, such Third Party Patents and Know-How [***] this Agreement. If Vertex
does not provide CRISPR [***] Third Party Patents and Know-How as provided above, such Third Party Patents and Know-How [***] under this Agreement and Vertex will be subject to the Third Party Obligations [***]. 

5.4 Licenses to Improvements. 

5.4.1 License to CRISPR. Subject to the terms and conditions of this Agreement, Vertex hereby grants to CRISPR a perpetual,
irrevocable, non-exclusive, royalty-free, fully paid-up, worldwide, sublicensable, license to all improvements or modifications to the CRISPR Platform Technology Patents, CRISPR Background Patents (to the extent existing on the Effective Date or
otherwise claiming the CRISPR Background Know-How set forth on Schedule F), [***] or CRISPR Background Know-How set forth on Schedule F (as may be supplemented by mutual written agreement of the Parties from time to time),
whether or not patentable, that arise in the course of performing activities under a Research Plan or in the course of Developing and Commercializing a Licensed Agent or Product and are Controlled by Vertex or its Affiliates to make, have made, use,
sell, keep, offer for sale and import products other than Licensed Agents and Products. 
 5.4.2 License to Vertex. Subject to the
terms and conditions of this Agreement, CRISPR, and, following the Subsidiary Transfer, to the extent necessary, the CRISPR Subsidiary, hereby grants to Vertex a perpetual, irrevocable, non-exclusive, royalty-free, fully paid-up, worldwide,
sublicensable, license to all improvements or modifications to the Vertex Background Know-How or Vertex Background Patents, whether or not patentable, that arise in the course of performing activities under a Research Plan and are Controlled by
CRISPR or its Affiliates to make, have made, use, sell, keep, offer for sale and import products other than Licensed Agents and Products. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 31 

 5.5 Technology Transfer after Option Exercise. 

5.5.1 Transition Agreement. Upon each exercise by Vertex of an Option, the Parties will negotiate and execute an agreement setting
forth the Parties’ respective obligations with respect to the transfer of data and Materials relating to the relevant Collaboration Target from CRISPR to Vertex, all in accordance with this Section 5.5. 

5.5.2 Licensed Know-How. On a Collaboration Target-by-Collaboration Target basis, CRISPR will promptly, but no later than [***] after
Vertex exercises its Option for such Collaboration Target hereunder, make available and, at Vertex’s request, deliver to Vertex or one or more designated Affiliates all documented Licensed Know-How in CRISPR’s possession that has not
previously been provided hereunder, for use in accordance with the exercise of the applicable Exclusive License. To assist with the transfer of such Licensed Know-How, CRISPR will make its personnel reasonably available to Vertex during normal
business hours to transfer such Licensed Know-How under this Section 5.5.2 and Vertex will reimburse CRISPR for the reasonable costs of such assistance at the FTE Rate within 30 days after its receipt of an invoice therefor. 

5.5.3 Transfer of Manufacturing Know-How and Materials. Without limiting CRISPR’s obligations under Section 5.5.2,
within [***] following the exercise of an Option, and thereafter, promptly following Vertex’s request, CRISPR will, or will cause the applicable Third Party (including any contract manufacturing organization engaged by CRISPR to Manufacture any
Licensed Agent or Product) to, transfer to Vertex (a) all Licensed Know-How that is necessary or useful to enable the Manufacture of each Licensed Agent or Product for the applicable Collaboration Target, and not previously transferred to Vertex
under this Agreement, by providing copies or samples of relevant documentation, materials and other embodiments of such Licensed Know-How, and by making available its, or the applicable Third Party’s, qualified technical personnel on a
reasonable basis to consult with Vertex with respect to such Licensed Know-How and (b) at Vertex’s request, any Materials used by CRISPR or its Affiliates or Subcontractors in the Manufacture of such Licensed Agent or Product. 

5.5.4 Transfer of Regulatory Filings and Data. On a Collaboration Target-by-Collaboration Target basis and effective as of the date on
which Vertex is granted the Exclusive License for a Collaboration Target, CRISPR will, and hereby does, assign to Vertex any and all Regulatory Filings or any other rights or permissions granted by any Regulatory Authority to Vertex related to any
Licensed Agent or Product directed to such Collaboration Target, together with all Research, Development and Manufacturing data relating to such Collaboration Target, in each case, not previously assigned by CRISPR to Vertex. Further, CRISPR will
take all actions and provide all assistance reasonably requested by Vertex to effect the assignments in this Section 5.5.4. 
 5.5.5
Right of Reference. Vertex hereby grants to CRISPR the right to rely upon and a right to copy, access, and otherwise use, all Adverse Event information pertaining to each Product as reasonably required in connection with the Development and
Commercialization 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 32 

 
(subject to Section 2.13) of products, and Vertex shall, if requested by CRISPR, provide a signed statement that CRISPR may rely on, and the Regulatory Authority may access, in
support of CRISPR’s application for Regulatory Approval of such products. 
 5.6 No Implied Licenses. All rights in and to
Licensed Technology not expressly licensed or assigned to Vertex under this Agreement are hereby retained by CRISPR or its Affiliates. All rights in and to any Vertex Technology not expressly licensed to CRISPR under this Agreement, are hereby
retained by Vertex or its Affiliates. Except as expressly provided in this Agreement, no Party will be deemed by estoppel or implication to have granted the other Party any licenses or other right with respect to any intellectual property. 

ARTICLE 6 
 PROFIT/LOSS
SHARING, DEVELOPMENT, MANUFACTURING 
 AND COMMERCIALIZATION 

6.1 CRISPR Profit/Loss Sharing. 

6.1.1 Profit/Loss Sharing. CRISPR will jointly (with Vertex or Affiliate(s) designated by Vertex) Research, Develop and Commercialize
Products containing (a) any Licensed Agent directed to a Collaboration Target that is a Hemoglobinopathy Target or (b) [***] and, in each case, for which Vertex has obtained the Exclusive License, as provided herein, unless, in each case,
CRISPR exercises an Opt-Out in accordance with Schedule G. 
 6.1.2 Effects of Co-Commercialization. For each
Collaboration Target set forth in clauses (a) or (b) of Section 6.1.1: 
 (a) each Product for the relevant
Collaboration Target will be deemed a “Shared Product”; 
 (b) the Exclusive License with respect to the
relevant Collaboration Target will become co-exclusive (with CRISPR); 
 (c) within [***] after Vertex has exercised the
Option to obtain the Exclusive License for such Collaboration Target, CRISPR and Vertex (or any Affiliates designated by Vertex) will enter into an agreement (the “Joint Development & Commercialization Agreement”), which the
Parties will negotiate in good faith and which will include appropriate plans and budgets, for the joint Development and Commercialization of Shared Products (or provisions for establishing such plans) and will include (i) terms and conditions that
are substantially the same as those set forth in Schedule G and (ii) other reasonable and customary provisions for transactions of this type as the Parties may agree. If the terms of this Agreement conflict with the terms of the Joint
Development & Commercialization Agreement, the terms of the Joint Development & Commercialization Agreement will control with respect to the Collaboration Program that is the subject thereof and the terms of this Agreement will control with
respect to all other matters; and 
 (d) [***]. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 33 

 6.2 Responsibility. Following an Option Exercise, Vertex will be solely responsible for
all Research, Development, Manufacturing and Commercialization of Licensed Agents and Products for the relevant Collaboration Target that are performed after the date on which the Option was exercised and for all costs and expenses associated
therewith, except (a) as may be otherwise provided in a Joint Development & Commercialization Agreement, (b) with respect to any incomplete activities under the relevant Research Plan or any agreed-upon Additional Research and (c) for the
transfer of activities to Vertex as contemplated by Section 5.5. 
 6.3 Vertex Diligence. 

6.3.1 Development Diligence. Except with respect to Shared Products, following Vertex’s exercise of the Option for a Collaboration
Target, Vertex (acting directly or through one or more Affiliates or Sublicensees) will use Commercially Reasonable Efforts to Develop, obtain Marketing Approvals for [***] in [***]. 

6.3.2 Commercial Diligence. Except with respect to Shared Products, Vertex (acting directly or through one or more Affiliates or
Sublicensees) will use Commercially Reasonable Efforts to Commercialize, including seeking Price Approval on appropriate terms, [***] in [***]. 

6.4 Product Development & Commercialization Plan. On a Collaboration Program-by-Collaboration Program basis, Vertex will prepare a
Development and Commercialization plan setting forth in reasonable detail (which detail shall be at least sufficient for CRISPR to evaluate Vertex’s compliance with its obligations under this Agreement) Vertex’s plans for (a) the
Development of each Product for the relevant Collaboration Target through Clinical Trials designed to show Establishment of POC, (b) starting after Establishment of POC, the Development of each Product through Marketing Approval and (c) starting
upon Marketing Approval for a Product and continuing thereafter until the expiration of the applicable Royalty Term, Commercialization for the Product, as appropriate for the stage of the Product, including a launch plan for each Major Market
Country (each, an “Product Development & Commercialization Plan”). If Vertex is Developing or Commercializing more than one Product directed to a Collaboration Target, the Product Development & Commercialization Plan will
include the foregoing information for each such Product. Vertex will prepare the initial Product Development & Commercialization Plan for a Collaboration Program no later than [***] after Option Exercise by performing the activities set forth in
each Research Plan for the relevant Collaboration Target. Once Vertex has prepared such Product Development & Commercialization Plan, Vertex will update such plan no less than [***] so that such Product Development & Commercialization Plan
is an accurate reflection of Vertex’s then-current plans with respect to the Development and Commercialization of the relevant Product and Vertex will provide such updates to CRISPR for its review. All Product Development &
Commercialization Plans are provided solely for informational purposes, and Vertex’s failure to follow a Product Development & Commercialization Plan will not constitute a breach of this Agreement. Notwithstanding the foregoing, Vertex will
have no obligation under this Section 6.4 with respect to any Shared Product. 
 6.5 Applicable Laws. Each Party will,
and will require its Affiliates, Sublicensees and Subcontractors to, comply with all Applicable Law in its and their Research, Development, Manufacture and Commercialization of Products, including where appropriate cGMP, GCP and GLP (or similar
standards). 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 34 

 6.6 Regulatory Matters; Safety Data Exchange Agreement. 

6.6.1 Responsibilities. Vertex or its designated Affiliates and Sublicensees will have the sole authority to prepare and file
Regulatory Filings, each in its own name, and applications for Regulatory Approval and Price Approval for any and all Licensed Agents and Products directed to each Collaboration Target, and will have the sole responsibility for communicating with
any Regulatory Authority both prior to and following Regulatory Approval and Price Approval, including all communications and decisions with respect to (a) pricing of Products and (b) the negotiation of Product pricing with Regulatory Authorities
and other Third Parties. 
 6.6.2 Ownership. Ownership of all right, title and interest in and to any and all Regulatory Filings,
Regulatory Approvals and Price Approvals directed to any Licensed Agent or any Product directed to each Collaboration Target in each country of the Territory will be held in the name of Vertex, its Affiliate, designee or Sublicensee. 

6.6.3 Pharmacovigilance. Upon Vertex’s request, the Parties will negotiate and enter into a separate safety data exchange
agreement (a “Safety Data Exchange Agreement”). The Safety Data Exchange Agreement will set forth guidelines and procedures for the receipt, investigation, recording, review, communication, reporting and exchange between the Parties
of adverse event reports (which, for purposes of information exchange between the Parties, will include adverse events and serious adverse events, and any other information concerning the safety of any Product or Licensed Agent and, with respect to
information provided by CRISPR, concerning the safety of products containing a [***] or [***]). Without limiting the foregoing, the Parties will meet to establish a safety oversight working group comprised of members of both Parties, which, except
as otherwise provided in the Safety Data Exchange Agreement, will discuss processes and procedures for sharing information needed to support each Party’s regulatory responsibilities and to comply with applicable regulatory pharmacovigilance
requirements. Any such procedures will not be construed to restrict either Party’s ability to take any action that it deems to be appropriate or required of it under the applicable regulatory requirements, if permitted by Applicable Laws.
Vertex (a) will maintain a unified worldwide adverse event database for Products, and be responsible for reporting adverse events and serious adverse events to the applicable Regulatory Authorities and (b) will be responsible for all signal
detection and risk management activities and will develop and approve the contents of all safety communications to Regulatory Authorities, including but not limited to expedited non-clinical and clinical safety reports and aggregate reports to
health authorities, institutional review boards and ethics committees. 
 6.7 Commercialization. 

6.7.1 General. Vertex will have sole and exclusive control over all matters relating to the Commercialization of Products, except as
may be otherwise provided in a Joint Development & Commercialization Agreement. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 35 

 6.7.2 Branding. Vertex or its designated Affiliates or Sublicensees will select and own
all trademarks used in connection with the Commercialization of any and all Products. CRISPR will not use nor seek to register, anywhere in the world, any trademark that is confusingly similar to any trademark used by or on behalf of Vertex, its
Affiliates or Sublicensees in connection with any Product. 
 6.8 Manufacturing. Vertex will have the exclusive right to Manufacture
and supply Licensed Agents and Products itself or through one or more Affiliates or Third Parties selected by Vertex in its sole discretion. The Parties may share information relating to the Manufacture of Products, and other products to be
commercialized by CRISPR, to determine whether and how to leverage their respective manufacturing efforts, but shall have no obligation hereunder to enter into an agreement with respect thereto. 

ARTICLE 7 
 FINANCIAL
PROVISIONS 
 7.1 Up-Front Fee to CRISPR AG (Switzerland). Within four Business Days following the Effective Date, Vertex UK will
pay CRISPR AG a one-time, non-refundable, non-creditable, upfront fee of $75,000,000 payable by wire transfer of immediately available funds. 

7.2 [***]. if Vertex [***], Vertex will [***] within [***] after Vertex notifies CRISPR that it is [***]. The [***] that are [***].

 7.3 Milestone Payments. 

7.3.1 Development Milestones. Subject to Section 7.3.4, Vertex will pay CRISPR the milestone payments set forth in this
Section 7.3.1 with respect to each Collaboration Target [***], whether such milestone event is achieved by CRISPR, Vertex or their respective Affiliates or any Sublicensees. Each milestone payment set forth below, is payable only once
per Collaboration Target, regardless of the number of Products directed to such Collaboration Target that achieve the relevant milestone event. 
  

							
	 Milestone Number
	  	Milestone Event	  	Milestone Payment	 
	 1
	  	Option Exercise for a
Collaboration Target	  	 	$10,000,000	  
	 2
	  	Filing of an IND for a
Product with a Regulatory
Authority in a Major
Market Country	  	 	$10,000,000	  
	 3
	  	Initiation of the first
Clinical Trial of a Product	  	 	$10,000,000	  
	 4
	  	Establishment of POC for
a Product	  	 	$30,000,000	  
	 5
	  	Initiation of the first
Phase 3 Clinical Trial of a
Product	  	 	[***]	  
	 6
	  	Acceptance of Approval
Application by the FDA
for a Product	  	 	[***]	  
	 7
	  	Acceptance of Approval
Application by the EMA
for a Product	  	 	[***]	  
	 8
	  	Acceptance of Approval
Application by a
Regulatory Authority in
Japan for a Product	  	 	[***]	  
	 9
	  	Marketing Approval in
the US for a Product	  	 	[***]	  
	 10
	  	Marketing Approval in
EU for a Product	  	 	[***]	  
	 11
	  	Marketing Approval in
Japan for a Product	  	 	[***]	  

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 36 

 7.3.2 Commercial Milestones. Subject to Section 7.3.4, Vertex will pay CRISPR
the milestone payments set forth in this Section 7.3.2 with respect to each Collaboration Target [***], whether such milestone event is achieved by Vertex or its Affiliates or any of their Sublicensees. Each milestone payment set forth
below, is payable only once per Collaboration Target, regardless of the number of Products directed to such Collaboration Target that achieve the relevant milestone event or the number of times Product(s) achieve such milestone event. 

 

							
	 Milestone Number
	  	Milestone Event	  	Milestone Payment	 
	 12
	  	Annual Net Sales for Products with respect
to a Collaboration Target exceed
$500,000,000	  	 	[***]	  
	 13
	  	Annual Net Sales for Products with respect
to a Collaboration Target exceed
$1,000,000,000	  	 	[***]	  

 7.3.3 Notice; Payment; Skipped Milestones. Vertex will provide CRISPR with written notice upon the
achievement of each of the milestone events set forth in Section 7.3.1 or 7.3.2, such notice to be provided, (a) with respect to milestones under Section 7.3.1, within [***] after achievement, and (b) with respect to
milestones under Section 7.3.2, [***] for the Calendar Quarter in which such milestone is first achieved. Following receipt of such notice, CRISPR will promptly invoice Vertex for the applicable milestone and Vertex will make the
appropriate milestone payment within [***] after receipt of such invoice. The milestones numbered [***] as set forth in Section 7.3.1 are intended to be successive; if a Product for a Collaboration Target is not required to undergo the
event associated with any such milestone event, such skipped milestone will be deemed to have been achieved upon the achievement by such Product of the next successive milestone event. Payment for any such skipped milestone that is owed in
accordance with the provisions of the foregoing sentence with respect to a given Product will be due concurrently with the payment for the next successive milestone event by such Product, it being agreed that if a Product for a Collaboration Target
is not required to undergo the milestone numbered [***], the corresponding payment will be made upon the first to occur of the milestones numbered [***]. 

7.3.4 Failure to Obtain Necessary Agreements. If, at the time any milestone event under Section 7.3.1 or
Section 7.3.2 is achieved, CRISPR has not obtained all necessary consents and agreements and taken all actions provided for under Section 9.3.10, [***]. 

7.4 Research Costs. 

7.4.1 As soon as practicable, but in any event within [***] after the end of each [***], CRISPR will provide Vertex with a flash report
estimating reimbursable Research Cost, if any, incurred by it and its Affiliates during the just-ended [***]. 
 7.4.2 Within [***] after
the end of each [***], CRISPR will submit to Vertex an itemized report of Research Costs, if any, incurred by CRISPR and its Affiliates during such [***] (the “Cost Report”), including reasonable supporting documentation. 

7.4.3 Vertex will reimburse CRISPR for all Research Costs in accordance with the applicable Research Budget or Additional Research Budget
within [***] after its receipt of 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 37 

 
the applicable Cost Report. If the Research Costs for a Research Plan or Additional Research Plan exceed the applicable Research Budget or Additional Research Budget, CRISPR may include such
excess costs in the applicable Cost Report, and Vertex will reimburse such excess costs, [***]. 
 7.4.4 Notwithstanding anything to the
contrary contained herein, except as may be otherwise provided in a Joint Development & Commercialization Agreement, Vertex will not be obligated to reimburse CRISPR for any Research Costs incurred in connection with the Research of a Shared
Product following Option Exercise for the relevant Collaboration Program. 
 7.5 Royalties. 

7.5.1 Royalty Rates. Subject to Sections 7.5.2, 7.5.3 and 7.5.4, on a Product-by-Product and
country-by-country basis, Vertex will pay CRISPR royalties based on the aggregate Net Sales of each Product sold by Vertex, its Affiliates or Sublicensees in the Field in the Territory during a Calendar Year at the rates set forth in the table
below; provided, that Vertex will have no obligation under this Section 7.5.1 with respect to any Shared Product. The obligation to pay royalties will be imposed only once with respect to the same unit of a Product. 

 

					
	 Calendar Year Net Sales (in Dollars) for such Product in the
Territory
	  	 Royalty Rates as a Percentage

(%) of Net Sales
	 
	[***]	  	 	[***]	  
	[***]	  	 	[***]	  
	[***]	  	 	[***]	  
	[***]	  	 	[***]	  

 7.5.2 Royalty Term. Vertex will pay royalties to CRISPR under this Section 7.5 on a
Product-by-Product and a country-by-country basis during the Royalty Term. Upon the expiration of the Royalty Term for a given Product in a given country, the Exclusive License with respect to such Product will become fully-paid, perpetual and
irrevocable. 
 7.5.3 [***]Generic Competition. If one or more Generic Products with respect to a Product is marketed and sold in a
given country by one or more Third Parties during any Calendar Quarter during the Royalty Term and the [***] of such Product sold during such Calendar Quarter have [***] relative to average quarterly sales ([***]) of such Product in such country
during the [***] Calendar Quarters immediately prior to the Calendar Quarter during which such Generic Product(s) was first marketed and sold in such country, then the royalty rate for such Product in such country, on a Product-by-Product and
country-by-country basis, will thereafter be [***] of the applicable royalty rate set forth in Section 7.5.1 for so long as such reduction in [***] persists. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 38 

 7.5.4 Third Party Licenses. Vertex may [***] from the royalties payable to CRISPR under
this Section 7.5 the following amounts: (a) [***]; (b) [***]; and (c) [***]; provided, however, that in no event will the royalties that would otherwise be payable to CRISPR, as reduced by Section 7.5.3 [***] under
this Section 7.5.4; and provided further, that Vertex will be entitled to [***] any amounts with respect to which Vertex would have been [***] pursuant to this Section 7.5.4 but [***] in this Section 7.5.4.

 7.5.5 [***]. If, at the time any royalties are payable pursuant to Section 7.5, [***]. 

7.5.6 Royalty Reports. During the Agreement Term, following the first sale of a Product (other than a Shared Product) giving rise to
Net Sales, within [***] after the end of each Calendar Quarter, Vertex will deliver a report to CRISPR specifying on a Product-by-Product and country-by-country basis: (a) gross sales in the relevant Calendar Quarter, (b) Net Sales in the relevant
Calendar Quarter, including an accounting of deductions applied to determine Net Sales; (c) a summary of the then-current exchange rate methodology then in use by Vertex, and (d) royalties payable on such Net Sales. All royalty payments due under
Section 7.5 for each Calendar Quarter will be due and payable within [***] after Vertex’s delivery of the applicable report under this Section 7.5.5. 

7.6 CRISPR In-License Agreements; [***]. 

7.6.1 CRISPR In-License Agreements. Certain of the Licensed Technology Controlled by CRISPR or CRISPR Affiliates as of the Effective
Date was in-licensed or acquired by CRISPR under the agreements with Third Party licensors or sellers listed on Schedule H (such agreements, together with each consent and agreement obtained by CRISPR pursuant to
Section 9.3.10, the “CRISPR In-License Agreements”). Subject to Section 10.1, [***]. 
 7.6.2
[***]. 
 (a) Certain Licensed Technology [***] during the Term pursuant to [***]. For any [***] pursuant to which
[***], CRISPR will use Commercially Reasonable Efforts to ensure that [***] with the same [***] (including the right for Vertex [***] would be [***] and [***], [***] and other potential or actual [***]. If CRISPR is [***], (a) CRISPR will so notify
Vertex, and the Parties will [***] and (b) CRISPR will not [***]. 
 (b) Notwithstanding anything to the contrary
contained herein, if, following Vertex’s exercise of the Option for a particular Collaboration Target, Vertex believes, in its reasonable judgment, that it may be necessary to obtain rights under any Patent having claims which Cover Licensed
Agents or Products that are the subject of the Option, Vertex shall have the right to negotiate a license to such Patent. 
 7.6.3
[***]. Vertex shall [***] by Vertex, its Affiliates or Sublicensees. If the [***] based on the [***] across such [***] by Vertex, its Affiliates or Sublicensees. [***] with and to the extent [***]. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 39 

 7.6.4 [***]. Subject to Section [***], [***] arising under any [***]. [***]
shall take into consideration the [***]. [***], the matter shall [***]. [***] if and when such [***]. 
 7.6.5 [***]. If CRISPR [***]
which provides [***] set forth on [***], then, [***], [***] 
 7.6.6 [***]. Notwithstanding the foregoing provisions of this
Section 7.6, Vertex may [***] with respect to one or more [***] and, thereafter, [***]. 
 7.7 Payment Method;
Currency. 
 7.7.1 All payments under this Agreement will be paid in U.S. Dollars, by wire transfer to an account designated by
CRISPR (which account CRISPR may update from time to time in writing). 
 7.7.2 If any amounts that are relevant to the determination of
amounts to be paid under this Agreement or any calculations to be performed under this Agreement are denoted in a currency other than U.S. Dollars, then such amounts will be converted to their U.S. Dollar equivalent using Vertex’s then-current
standard procedures and methodology, including its then-current standard exchange rate methodology for the translation of foreign currency expenses into U.S. Dollars or, in the case of Sublicensees, such similar methodology, consistently applied.

 7.8 Withholding Tax. Where any sum due to be paid to CRISPR hereunder is subject to any withholding or similar tax, Vertex will
pay such withholding or similar tax to the appropriate Government Authority and deduct the amount paid from the amount then due CRISPR, in a timely manner and promptly transmit to CRISPR an official tax certificate or other evidence of such
withholding sufficient to enable CRISPR to claim such payment of taxes. The Parties agree to cooperate with one another and use reasonable efforts to reduce or eliminate tax withholding or similar obligations in respect of royalties, milestone
payments, and other payments made by Vertex to CRISPR under this Agreement. CRISPR will provide Vertex any tax forms that may be reasonably necessary in order for Vertex not to withhold tax or to withhold tax at a reduced rate under an applicable
bilateral income tax treaty. Each Party will provide the other with reasonable assistance to enable the recovery, as permitted by Applicable Laws, of withholding taxes, value added taxes, or similar obligations resulting from payments made under
this Agreement, such recovery to be for the benefit of the Party bearing such withholding tax or value added tax. 
 7.9 Records.
During the Agreement Term, Vertex will keep and maintain accurate and complete records regarding Net Sales during the [***] preceding Calendar Years and CRISPR will keep and maintain accurate and complete records regarding the Research Cost covering
the [***] preceding Calendar Years. Upon [***] prior written notice from the other Party (the “Auditing Party”), the Party required to maintain such records (as applicable, the “Audited Party”) will permit an
independent certified public accounting firm of internationally recognized standing, selected by the Auditing Party and reasonably acceptable to the Audited Party, to examine the relevant books and records of the Audited Party and its Affiliates, as
may be reasonably necessary to verify the royalty reports submitted by Vertex in accordance with Section 7.5.5, or Research Cost reported by CRISPR in accordance with Section 7.4, as 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 40 

 
applicable. An examination by the Auditing Party under this Section 7.9 will occur not more than [***] in any Calendar Year and will be limited to the pertinent books and records for any
Calendar Year ending not more than [***] before the date of the request. The accounting firm will be provided access to such books and records at the Audited Party’s facility or facilities where such books and records are normally kept and such
examination will be conducted during the Audited Party’s normal business hours. The Audited Party may require the accounting firm to sign a customary non-disclosure agreement before providing the accounting firm access to its facilities or
records. Upon completion of the audit, the accounting firm will provide both the Auditing Party and the Audited Party a written report disclosing whether the reports submitted by Vertex, or the Research Cost reported by CRISPR, as applicable, are
correct or incorrect and the specific details concerning any discrepancies. No other information will be provided to the Auditing Party. If the report or information submitted by the Audited Party results in an underpayment or overpayment, the Party
owing underpaid or overpaid amount will promptly pay such amount to the other Party, and, if, as a result of such inaccurate report or information, such amount is more than [***] of the amount that was owed the Audited Party will reimburse the
Auditing Party for the reasonable expense incurred by the Auditing Party in connection with the audit. 
 7.10 Late Payment. Any
payments or portions thereof due hereunder that are not paid when due will accrue interest from the date due until paid at an annual rate equal to [***] (or the maximum allowed by Applicable Law, if less). 

ARTICLE 8 
 INTELLECTUAL
PROPERTY 
 8.1 Ownership; Assignment. For the avoidance of doubt, the rights and obligations of the Parties under this
ARTICLE 8 are subject to and limited by any applicable Third Party Obligations to the extent the provisions of such obligations or agreements are specifically disclosed to Vertex in writing (or via electronic data room) (a) with respect
to Third Party Obligations existing as of the Effective Date, prior to the Effective Date, (b) with respect to Third Party Obligations arising between the Effective Date and the delivery of the relevant Option Exercise Data Package, at the time of
delivery of the Option Exercise Data Package and (c) with respect to Third Party Obligations arising after the date the applicable Exclusive License is granted hereunder, on or prior to the date on which such Third Party Obligations arise. 

8.1.1 CRISPR Technology and Vertex Technology. As between the Parties, CRISPR will own and retain all of its rights, title and interest
in and to the CRISPR Background Know-How, CRISPR Background Patents and CRISPR Platform Technology Patents and Vertex will own and retain all of its rights, title and interest in and to any Vertex Background Know-How and Vertex Background Patents,
subject to any assignments, rights or licenses expressly granted by one Party to the other Party under this Agreement. 
 8.1.2 Agreement
Technology. 
 (a) As between the Parties, CRISPR will be the sole owner of any Know-How discovered, developed, invented
or created solely by CRISPR or its Affiliates or Third Parties acting on their behalf in connection with activities under this Agreement 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 41 

 
(“CRISPR Program Know-How”) and any Patents that cover or claim such Know-How (“CRISPR Program Patents” and together with the CRISPR Program Know-How, the
“CRISPR Program Technology”), and will retain all of its rights, title and interest thereto, subject to any assignment, rights or licenses expressly granted by CRISPR to Vertex under this Agreement. 

(b) As between the Parties, Vertex will be the sole owner of any Know-How discovered, developed, invented or created solely by
Vertex or its Affiliates or Third Parties acting on their behalf in connection with activities under this Agreement (“Vertex Program Know-How”) and any Patents that cover or claim Vertex Program Know-How (“Vertex Program
Patents” and together with the Vertex Program Know-How, the “Vertex Program Technology”), and will retain all of its rights, title and interest thereto, subject to any rights or licenses expressly granted by Vertex to
CRISPR under this Agreement. 
 (c) (i) [***]: Any Know-How discovered, developed, invented or created jointly under
this Agreement by both (a) Vertex, its Affiliates or Third Parties acting on Vertex’s behalf and (b) CRISPR, its Affiliates or Third Parties acting on CRISPR’s behalf, while conducting activities under this Agreement, to the extent [***]
(“[***] Joint Program Know-How”), and any Patents that [***] (“[***] Joint Program Patents,” and together with the [***] Joint Program Know-How, the “[***] Joint Program Technology”), will be owned
[***], including all rights, title and interest thereto, subject to any assignment, rights or licenses expressly granted by one Party to the other Party under this Agreement. Except as expressly provided in this Agreement, [***] with respect to, or
to [***] Joint Program [***], and each Party hereby [***]. 
 (ii) [***]: All [***] Joint Program Know-How, [***]
Joint Program Patents, and [***] Joint Program Technology, in each case to the extent pertaining to [***], will be [***]. Within [***], [***] will, and hereby [***], [***] or [***] designated Affiliates, [***] Joint Program Patents. [***] will take
all actions and provide [***] with all [***] and will [***]. 
 (d) Any Know-How discovered, developed, invented or created
jointly under this Agreement by both (a) Vertex, its Affiliates or Third Parties acting on Vertex’s behalf and (b) CRISPR, its Affiliates or Third Parties acting on CRISPR’s behalf, while conducting activities under this Agreement, to the
extent pertaining to [***] but not exclusively pertaining to [***] (“[***] Joint Program Know-How”), and any Patents that claim or cover such [***] Joint Program Know-How (“[***] Joint Program Patents,” and together
with the [***] Joint Program Know-How, the “[***] Joint Program Technology”), will be [***]. [***] will, and hereby does, assign to [***] or one or more of its designated Affiliates, [***] ownership interest in all [***] Joint
Program Patents. Within [***], [***]will take all actions and provide [***] with all reasonably requested assistance to effect such assignment and will execute any and all documents necessary to perfect such assignment. Any Patents [***] under this
Section [***]. In addition, [***]. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 42 

 (e) Any Know-How discovered, developed, invented or created jointly under this
Agreement by both (a) Vertex, its Affiliates or Third Parties acting on Vertex’s behalf and (b) CRISPR, its Affiliates or Third Parties acting on CRISPR’s behalf, while conducting activities under this Agreement, that is not [***] Joint
Program Know-How or [***] Joint Program Know-How (the “Other Joint Program Know-How”), and any Patents that solely claim or cover such Other Joint Program Know-How (the “Other Joint Program Patents,” and together
with the Other Joint Program Know-How, the “Other Joint Program Technology”), will be [***], including all rights, title and interest thereto, subject to any assignment, rights or licenses expressly granted by one Party to the other
Party under this Agreement. Except as expressly provided in this Agreement, neither Party will have any obligation [***] with respect to, or to [***], Other Joint Program Technology by reason of [***] thereof, and each Party [***] the laws of any
jurisdiction [***]. If such [***], each Party [***] to the [***] without [***] other Party. Notwithstanding the foregoing, if either Party [***] such Other Joint Program Technology, it shall [***] of the other Party, such [***]. 

(f) CRISPR will promptly disclose to Vertex in writing, and will cause its Affiliates to so disclose, the discovery,
development, invention or creation of any CRISPR Program Technology under this Agreement. In addition, each Party will promptly disclose to the other Party in writing, and will cause its Affiliates to so disclose, the discovery, development,
invention or creation of any Joint Program Technology under this Agreement. 
 8.1.3 [***] CRISPR Product-Specific Patents to [***].

 (a) Within [***] following the exercise of an Option by Vertex, if not previously completed by [***], CRISPR will [***],
including without limitation a [***] as defined below, or as a new case to be determined by [***], consisting of [***] for the [***] that are [***] (each such [***]). Upon Vertex’s exercise of an Option, all [***] will no longer be [***] and
will thereafter be [***]. 
 (b) Effective upon and following Vertex’s exercise of the Option for a particular
Collaboration Target, CRISPR will, and hereby does, [***] related to [***] that are [***] (whether [***]), and thereafter [***] will have [***]. CRISPR will take all actions and provide Vertex with [***] and will [***]. Any [***] under this
Section 8.1.3(b) will be excluded [***] but will be included in the [***] for purposes of determining the [***]. 
 8.1.4 [***]
CRISPR. Effective upon [***] pursuant to Section 8.1.3, Vertex will, [***], [***] any such [***] to (a) conduct activities [***], (b) conduct [***] and 

(a) [***]. 
 8.2
Prosecution and Maintenance of Patents. The Parties hereby agree as follows with respect to the Prosecution and Maintenance of certain Patents, for the avoidance of doubt, in each case, subject to Third Party Obligations. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 43 

 8.2.1 CRISPR Platform Technology Patents. Anything herein to the contrary notwithstanding,
and subject to Section 8.2.5, CRISPR will control and be responsible for all aspects of the Prosecution and Maintenance of the CRISPR Platform Technology Patents. 

8.2.2 CRISPR Patents. CRISPR will control and be responsible for all aspects of the Prosecution and Maintenance of CRISPR Background
Patents, CRISPR Program Patents, [***] Patents and [***] Program Patents. CRISPR will use Commercially Reasonable Efforts to Prosecute and Maintain all CRISPR Background Patents, CRISPR Program Patents, [***] Patents, other Joint Program Patents if
applicable, and [***] Joint Program Patents, in each case to the extent Covering Licensed Agents or Products directed to particular Collaboration Targets using counsel reasonably acceptable to Vertex. In advance of Option Exercise for a particular
Collaboration Target (i.e., during the course of and in connection with each Research Plan conducted by the Parties under this Agreement), (a) CRISPR will undertake the Prosecution and Maintenance of one or more patent applications which
could claim [***] Claims to the extent permitted by applicable law (each such Patent a “[***] Patent”) and (b) prior to the filing of any Patent application that Covers Licensed Agents or Products, the Patent Coordinators will meet
and in good faith discuss the best strategy for such filing (which, for clarity may [***] Patents). The Parties will use good faith efforts to agree on such strategy, with the goal of maximizing the value of the Parties’ respective patent
portfolios. 
 8.2.3 Vertex Patents. Vertex will control and be responsible for all aspects of the Prosecution and Maintenance of all
Vertex Background Patents, Vertex Program Patents, [***] and [***] Joint Program Patents. Vertex will use Commercially Reasonable Efforts to Prosecute and Maintain all [***] Patents and [***] Joint Program Patents, if applicable, using counsel
reasonably acceptable to CRISPR. 
 8.2.4 Other Joint Program Patents. The Parties will discuss and agree upon an allocation of
responsibility for the prosecution and maintenance of the Other Joint Program Patents. 
 8.2.5 Other Matters Pertaining to Prosecution
and Maintenance of Patents. 
 (a) Each Party will keep the other Party informed through their respective Patent
Coordinators as to material developments with respect to the Prosecution and Maintenance of the CRISPR Platform Technology Patents, CRISPR Background Patents, CRISPR Program Patents, [***] Patents and Joint Program Patents for which such Party has
responsibility for Prosecution and Maintenance pursuant to this Section 8.2, including by providing copies of any office actions or office action responses or other correspondence that such Party provides to or receives from any patent
office, including notice of all interferences, reissues, re-examinations, or oppositions, and all patent-related filings, and by providing the other Party the timely opportunity to have reasonable input into the strategic aspects of such Prosecution
and Maintenance. 
 (b) If, during the Agreement Term, Vertex intends to abandon patent applications for any Patent that
Vertex is responsible for Prosecuting and Maintaining under Section 8.2.3 (excluding Vertex Background Patents and Vertex Program Patents that Cover technology other than Licensed Agents and Products, but including, for the 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 44 

 
avoidance of doubt, [***] Patents) in a particular country, then Vertex will so notify CRISPR of such intention at least [***] before such Patent will become abandoned, and CRISPR will have the
right, but not the obligation, to assume responsibility for the Prosecution and Maintenance thereof at its own expense with counsel of its own choice. 

(c) If, during the Agreement Term, CRISPR intends to abandon any CRISPR Background Patent (excluding any CRISPR Platform
Technology Patents), CRISPR Program Patent, [***] Patent, [***] Joint Program Patent or Other Joint Program Patent Covering a Licensed Agent or Product that CRISPR is responsible for Prosecuting and Maintaining in a particular country, then, if
Vertex’s right to obtain an Exclusive License to such Patent or have such Patent assigned pursuant to Section 8.1.3, as applicable, has not expired or terminated, CRISPR will notify Vertex of such intention at least [***] before
such Patent will become abandoned, and Vertex will have the right, but not the obligation, to assume responsibility for the Prosecution and Maintenance thereof at its own expense with counsel of its own choice. 

8.3 Patent Coordinators. Each Party will appoint a patent coordinator reasonably acceptable to the other Party (each, a “Patent
Coordinator”) to serve as such Party’s primary liaison with the other Party on matters relating to the Prosecution and Maintenance and enforcement of Licensed Patents and Joint Program Patents. The Patent Coordinators will meet in
person or by means of telephone or video conference at least once each Calendar Quarter during the Agreement Term. Each Party may replace its Patent Coordinator at any time by providing notice in writing to the other Party. The initial Patent
Coordinators will be: 
 For Vertex: Kerry Flynn 

For CRISPR: Tyler Dylan-Hyde 

8.4 Patent Costs. Patent Costs arising after the Effective Date will be borne by the Parties as provided in Schedule K for the
relevant period (i.e., before or after Option Exercise) except as otherwise set forth in the Joint Development & Commercialization Agreement. 

8.5 Defense of Claims Brought by Third Parties. If a Third Party initiates a Proceeding against either Party claiming a Patent owned by
or licensed to such Third Party is infringed by the Research, Development, Manufacture or Commercialization of a Licensed Agent or Product, each Party that is named as a defendant in such Proceeding will have the right to defend itself in such
Proceeding. The other Party will reasonably assist the defending Party in defending such Proceeding and cooperate in any such litigation at the request and expense of the defending Party. The defending Party will provide the other Party with prompt
written notice of the commencement of any such Proceeding and will keep the other Party apprised of the progress of such Proceeding and will promptly furnish the other Party with a copy of each communication relating to the alleged infringement that
is received by such Party. If both Parties are named as defendants in any Proceeding, both Parties may defend such Proceeding and the Parties will reasonably cooperate with respect to such defense. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 45 

 8.6 Enforcement of Patents Against Competitive Infringement. 

8.6.1 Duty to Notify of Competitive Infringement. If either Party learns of an infringement, unauthorized use, misappropriation or
threatened infringement by a Third Party with respect to any Licensed Patents by reason of the making, using, offering to sell, selling or importing of (a) a product containing [***] or (b) the resulting [***] by such [***] (a “Competitive
Infringement”) or any other infringement, unauthorized use, misappropriation or threatened infringement by a Third Party with respect to any CRISPR Platform Technology Patent, such Party will promptly notify the other Party in writing and
will provide such other Party with available information regarding such Competitive Infringement or other infringement. 
 8.6.2 Prior to
License Grant. For any Competitive Infringement with respect to a Licensed Agent or Product pertaining to a Collaboration Target that is then subject to an Option, which Competitive Infringement occurs after the Effective Date but before the
date Vertex is granted the Exclusive License with respect to such Licensed Agent or Product, CRISPR will have the first right, but not the obligation, to institute, prosecute, and control a Proceeding with respect thereto, by counsel of its own
choice. Vertex will have the right to engage counsel of its own choice in connection with such Proceeding at its own expense but shall not be permitted to become party to such Proceeding unless required by Applicable Law. CRISPR will provide Vertex
with prompt written notice of the commencement of any such Proceeding, and CRISPR will keep Vertex apprised of the progress of such Proceeding. Notwithstanding anything the contrary contained herein, CRISPR will at all times have the sole right to
institute, prosecute, and control any Proceeding under this Section 8.6.2 to the extent involving any CRISPR Platform Technology Patents but will (a) keep Vertex reasonably apprised of the progress of such Proceeding, (b) reasonably
consider Vertex’s comments with respect to the conduct of such Proceeding and (c) not enter a settlement, consent judgment or other voluntary final disposition of a Proceeding that disclaims, limits the scope of, admits the invalidity or
unenforceability of, or grants a license, covenant not to sue or similar immunity that has an adverse effect on Vertex’s rights hereunder with respect to, a CRISPR Platform Technology Patent without Vertex’s prior written consent, not to
be unreasonably withheld. 
 8.6.3 Following License Grant. For any Competitive Infringement with respect to a particular Licensed
Agent or Product occurring after the date Vertex is granted the Exclusive License with respect to such Licensed Agent or Product, Vertex will have the first right, but not the obligation, to institute, prosecute, and control a Proceeding with
respect to such Competitive Infringement by counsel of its own choice at its own expense, and CRISPR will have the right, at its own expense, to be represented in that action by counsel of its own choice; provided that in such Proceeding,
Vertex shall reasonably consider CRISPR’s comments with respect to which Patents to seek to enforce against such infringing party, taking into consideration the overall value of the Patents Covering the relevant Licensed Agent or Product to
CRISPR and its licensees. If Vertex fails to initiate a Proceeding within a period of [***] after written notice of such Competitive Infringement is first provided by a Party under Section 8.6.1, CRISPR will have the right to initiate
and control a Proceeding with respect to such Competitive Infringement by counsel of its own choice, and Vertex will have the right to be represented in any such action by counsel of its own choice at its own expense; provided, that if Vertex
notifies CRISPR during such [***] period that it is electing in good faith not to institute any Proceeding against such Competitive Infringement for strategic reasons intended to maintain the commercial value of the relevant Patent and any Licensed
Agent or Product Covered thereby, CRISPR will not have the right to initiate and control any Proceeding with respect to such Competitive Infringement. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 46 

 
Notwithstanding anything to the contrary contained herein, CRISPR will at all times have the sole right to institute, prosecute, and control any Proceeding under this Section 8.6.3 to
the extent involving any CRISPR Platform Technology Patents but will (a) keep Vertex reasonably apprised of the progress of such Proceeding, (b) reasonably consider Vertex’s comments with respect to the conduct of such Proceeding and (c) not
enter a settlement, consent judgment or other voluntary final disposition of a Proceeding that disclaims, limits the scope of, admits the invalidity or unenforceability of, or grants a license, covenant not to sue or similar immunity that has an
adverse effect on Vertex’s rights hereunder with respect to, a CRISPR Platform Technology Patent without Vertex’s prior written consent, not to be unreasonably withheld. 

8.6.4 Joinder. 

(a) If a Party initiates a Proceeding in accordance with this Section 8.6 or Section 8.7 the other Party agrees
to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance and authority to file and prosecute the Proceeding. Subject to Section 8.6.5, the costs and expenses of each Party incurred pursuant to this
Section 8.6.4 will be borne by the Party initiating such Proceeding. CRISPR agrees to use Commercially Reasonable efforts to cause Third Parties to be joined as a party plaintiff where necessary. 

(b) If one Party initiates a Proceeding in accordance with this Section 8.6, the other Party may join such Proceeding as
a party plaintiff where necessary for such other Party to seek lost profits with respect to such infringement. 
 8.6.5 Share of
Recoveries. Any damages or other monetary awards recovered with respect to a Proceeding brought pursuant to this Section 8.6 will be shared as follows: 

(a) the amount of such recovery will first [***]; then 

(b) any remaining proceeds constituting direct or actual damages for acts of infringement occurring prior to the date Vertex is
granted the Exclusive License with respect to the relevant Licensed Agent or Product [***]; 
 (c) any remaining proceeds
constituting direct or actual damages for acts of infringement occurring after the date Vertex is granted the Exclusive License with respect to the relevant Licensed Agent or Product [***]; and 

(d) any remaining proceeds constituting punitive or treble damages will be allocated between the Parties as follows: [***].

 Notwithstanding the foregoing, any Out-of Pocket Costs incurred in connection with a Proceeding with respect to a Shared
Product shall be included in the Other-Out-of-Pocket Costs (as defined in Schedule G) and the proceeds of such proceeding shall be deemed Net Sales for purposes of determining the Net Profit or Net Loss (each, as defined in
Schedule G). 
 8.6.6 Settlement. Notwithstanding anything to the contrary under this
ARTICLE 8, neither Party may enter a settlement, consent judgment or other voluntary final 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 47 

 
disposition of a suit under this ARTICLE 8 that disclaims, limits the scope of, admits the invalidity or unenforceability of, or grants a license, covenant not to sue or similar
immunity under a Patent Controlled by the other Party or its Affiliates without first obtaining the written consent of the Party that Controls the relevant Patent; provided that the foregoing limitation shall not apply to CRISPR’s rights

 with respect to the CRISPR Platform Technology Patents (subject to the restriction set forth in Sections 8.6.2 and
8.6.3). 
 8.7 Other Infringement. 

8.7.1 Joint Program Patents. With respect to the infringement of a Joint Program Patent that is not a Competitive Infringement, the
Parties will cooperate in good faith to bring suit together against such infringing party or the Parties may decide to permit one Party to solely bring suit. Any damages or other monetary awards recovered with respect to a Proceeding brought
pursuant to this Section 8.7.1 will be shared as follows: (a) the amount of such recovery [***]; then (b) any remaining proceeds will be allocated as follows: (i) [***]; and (ii) [***]. 

8.7.2 Patents Solely Owned by CRISPR. CRISPR will retain all rights to pursue an infringement of any Patent solely owned by CRISPR that
is not a Competitive Infringement and CRISPR will retain all recoveries with respect thereto. 
 8.7.3 Patents Solely Owned by
Vertex. Vertex will retain all rights to pursue an infringement of any Patent solely owned by Vertex and Vertex will retain all recoveries with respect thereto. 

8.8 Patent Listing. Following Vertex’s exercise of the Option for a Collaboration Target, Vertex will have the sole right, but not
the obligation, to submit to all applicable Regulatory Authorities patent information pertaining to each applicable Product pursuant to 21 U.S.C. § 355(b)(1)(G) (or any amendment or successor statute thereto), any similar statutory or
regulatory requirement enacted in the future regarding biologic products, or any similar statutory or regulatory requirement in any non-U.S. country or other regulatory jurisdiction; provided that Vertex shall not be permitted to provide any
such information with respect to CRISPR Platform Technology Patents without CRISPR’s prior written consent. 
 8.9 CREATE Act.
Notwithstanding anything to the contrary in this ARTICLE 8, neither Party will have the right to make an election under the CREATE Act when exercising its rights under this ARTICLE 8 without the prior written consent of the
other Party, which will not be unreasonably withheld, conditioned or delayed. With respect to any such permitted election, the Parties will use reasonable efforts to cooperate and coordinate their activities with respect to any submissions, filings
or other activities in support thereof. The Parties acknowledge and agree that this Agreement is a “joint research agreement” as defined in the CREATE Act. 

8.10 Additional Right and Exceptions. Notwithstanding any provision of this ARTICLE 8, CRISPR retains the sole right to
Prosecute and Maintain CRISPR Platform Technology Patents and to control any enforcement of CRISPR Platform Technology Patents, subject to the restrictions set forth in Sections 8.6.2 and 8.6.3. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 48 

 8.11 Patent Term Extension. The Parties will cooperate with each other in obtaining patent
term restoration in any country in the Territory under any statute or regulation equivalent or similar to 35 U.S.C. § 156, where applicable to a Product. After the date Vertex is granted the Exclusive License with respect to a Product, [***]
Vertex Background Patents, [***] Patents, Vertex Program Patents, [***] Joint Program Patents, Joint Program Patents and [***] Joint Program Patents [***]. CRISPR will abide by Vertex’s determination and cooperate, as reasonably requested by
Vertex, in connection with the foregoing (including by providing appropriate information and executing appropriate documents). 
 8.12
Recording. If Vertex deems it necessary or desirable to register or record this Agreement or evidence of this Agreement with any patent office or other appropriate Governmental Authority in one or more jurisdictions in the Territory, CRISPR
will reasonably cooperate to execute and deliver to Vertex any documents accurately reflecting or evidencing this Agreement that are necessary or desirable, in Vertex’s reasonable judgment, to complete such registration or recordation. Vertex
will reimburse CRISPR for all reasonable Out-of-Pocket Costs, including attorneys’ fees, incurred by CRISPR in complying with the provisions of this Section 8.12. 

ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 

9.1 Representations and Warranties of Vertex. Vertex hereby represents and warrants to CRISPR, as of the Effective Date, that: 

9.1.1 each of Vertex Parent and Vertex UK are duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof; 

9.1.2 each of Vertex Parent and Vertex UK (a) has the requisite power and authority and the legal right to enter into this Agreement and to
perform its obligations hereunder and (b) has taken all requisite action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; 

9.1.3 each of Vertex Parent and Vertex UK has the requisite resources and expertise to perform its obligations hereunder; 

9.1.4 this Agreement has been duly executed and delivered on behalf of each of Vertex Parent and Vertex UK, and constitutes a legal, valid and
binding obligation, enforceable against each of Vertex Parent and Vertex UK in accordance with the terms hereof; 
 9.1.5 the execution,
delivery and performance of this Agreement by each of Vertex Parent and Vertex UK will not constitute a default under or conflict with any agreement, instrument or understanding, oral or written, to which either entity is a party or by which either
entity is bound, or violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over Vertex Parent or Vertex UK; and 

9.1.6 each of Vertex Parent and Vertex UK has obtained all necessary consents, approvals and authorizations of all Governmental Authorities
and other Persons or entities required to be obtained by it in connection with the execution and delivery of this Agreement. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 49 

 9.2 Representations and Warranties of CRISPR. Each of the CRISPR Entities, jointly and
severally, hereby represents and warrants to Vertex, as of the Effective Date, that, except as otherwise set forth on Schedule L: 

9.2.1 Each of CRISPR AG, CRISPR Inc., CRISPR UK and Tracr are duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof; 

9.2.2 Each of CRISPR AG, CRISPR Inc., CRISPR UK and Tracr (a) has the requisite power and authority and the legal right to enter into this
Agreement and to perform its obligations hereunder and (b) has taken all requisite action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; 

9.2.3 [***], each of CRISPR AG, CRISPR Inc., CRISPR UK and Tracr has the requisite resources and expertise to perform its obligations
hereunder; 
 9.2.4 this Agreement has been duly executed and delivered on behalf of CRISPR, and constitutes a legal, valid and binding
obligation, enforceable against it in accordance with the terms hereof; 
 9.2.5 the execution, delivery and performance of this Agreement
by CRISPR will not constitute a default under or conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it is bound, or violate any law or regulation of any court, governmental body or
administrative or other agency having jurisdiction over it; 
 9.2.6 CRISPR has obtained all necessary consents, approvals and
authorizations of all Governmental Authorities and other Persons or entities required to be obtained by CRISPR in connection with the execution and delivery of this Agreement; 

9.2.7 the Licensed Technology constitutes all of the Patents and Know-How Controlled by CRISPR that are necessary to Research, Develop,
Manufacture or Commercialize Licensed Agents and Products contemplated under the Collaboration Programs in the Field; 
 9.2.8 CRISPR is the
sole and exclusive owner or exclusive licensee of the [***], all of which are free and clear of any liens, charges and encumbrances, and, as of the Effective Date, neither any license granted by CRISPR to any Third Party, nor any license granted by
any Third Party to CRISPR conflicts with the license grants to Vertex hereunder (or the Exclusive License to be granted to Vertex upon Option Exercise) and CRISPR is entitled to grant all rights and licenses (or sublicenses, as the case may be)
under such Patents it purports to grant to Vertex under this Agreement and the Exclusive Licenses to be granted to Vertex upon Option Exercise; 

9.2.9 Schedule L sets forth a true, correct and complete list of all CRISPR Platform Technology Patents and CRISPR Background
Patents as of the Effective Date and 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 50 

 
indicates (a) whether each such Patent is a [***] or a [***] and (b) whether such Patent is owned by CRISPR or licensed by CRISPR from a Third Party and if so, identifies the licensor or
sublicensor from which the Patent is licensed; 
 9.2.10 CRISPR has independently developed all Licensed Technology or otherwise has a valid
right to use, and to permit Vertex, Vertex’s Affiliates and Vertex’s Sublicensees to use, the Licensed Technology for all permitted purposes under this Agreement; 

9.2.11 the CRISPR Background Know-How is free and clear of liens, charges or encumbrances other than licenses granted to Third Parties that
are not inconsistent with the rights and licenses granted to Vertex hereunder; 
 9.2.12 the CRISPR Platform Technology Patents and CRISPR
Background Patents, are, or, upon issuance, will be, valid and enforceable patents and no Third Party [***], (a) is infringing any such Patents or (b) has challenged the extent, validity or enforceability of such Patents (including by way of example
through the institution or written threat of institution of interference, nullity or similar invalidity proceedings before the United States Patent and Trademark Office or any analogous foreign Governmental Authority); 

9.2.13 it has complied with all Applicable Laws, including any disclosure requirements of the United States Patent and Trademark Office or any
analogous foreign Governmental Authority, in connection with the Prosecution and Maintenance of the CRISPR Platform Technology Patents and CRISPR Background Patents and has timely paid all filing and renewal fees payable with respect to any such
Patents for which it controls Prosecution and Maintenance; 
 9.2.14 it has obtained assignments from the inventors of all inventorship
rights relating to the [***] and [***] that it owns, and all such assignments of inventorship rights relating to such Patents are valid and enforceable; 

9.2.15 except for the CRISPR In-License Agreements, there is no agreement between CRISPR (or any of its Affiliates) and any Third Party
pursuant to which CRISPR has acquired Control of any of the Licensed Technology, and no Third Party has any right, title or interest in or to, or any license under, any of the Licensed Technology. All CRISPR In-License Agreements are in full force
and effect and have not been modified or amended (except for amendments provided to Vertex prior to the Effective Date). Neither CRISPR nor, [***], the Third Party licensor in a CRISPR In-License Agreement is in default with respect to a material
obligation under such CRISPR In-License Agreement, and neither such party has claimed or has grounds upon which to claim that the other party is in default with respect to a material obligation under, any CRISPR In-License Agreement; 

9.2.16 CRISPR and its Affiliates have taken commercially reasonable measures consistent with industry practices to protect the secrecy,
confidentiality and value of all CRISPR Background Know-How that constitutes trade secrets under Applicable Law (including requiring all employees, consultants and independent contractors to execute binding and enforceable agreements requiring all
such employees, consultants and independent contractors to maintain the confidentiality of such CRISPR Background Know-How) and, [***], such CRISPR 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 51 

 
Background Know-How has not been used, disclosed to or discovered by any Third Party except pursuant to such confidentiality agreements and there has not been a breach by any party to such
confidentiality agreements; 
 9.2.17 no Licensed Technology is subject to any funding agreement with any government or governmental agency;

 9.2.18 [***], the Research, Development, Manufacture, use, sale, offer for sale, supply or importation by CRISPR or Vertex (or their
respective Affiliates or Sublicensees) of a Licensed Agent or Product does not and will not infringe any issued patent of any Third Party or, if and when issued, any claim within any patent application of any Third Party; 

9.2.19 there are no judgments or settlements against or owed by CRISPR [***], [***], pending or threatened claims or litigation, in either
case relating to the Licensed Technology; 
 9.2.20 there is no action, claim, demand, suit, proceeding, arbitration, grievance, citation,
summons, subpoena, inquiry or investigation of any nature, civil, criminal, regulatory or otherwise, in law or in equity, pending [***], [***], threatened against CRISPR, any of its Affiliates or any Third Party, in each case in connection with the
Licensed Technology or relating to the transactions contemplated by this Agreement; and 
 9.2.21 CRISPR has not employed (and, [***], has
not used a contractor or consultant that has employed) any Person debarred by the FDA (or subject to a similar sanction of EMA or foreign equivalent), or any Person that is the subject of an FDA debarment investigation or proceeding (or similar
proceeding of EMA or foreign equivalent), in any capacity in connection with this Agreement. 
 9.3 CRISPR Covenants. Each of the
CRISPR Entities, jointly and severally, hereby covenants to Vertex that, except as expressly permitted under this Agreement: 
 9.3.1 CRISPR
will maintain and not breach any CRISPR In-License Agreements [***] that provide a grant of rights from such Third Party to CRISPR that are Controlled by CRISPR and are licensed or may become subject to a license from CRISPR to Vertex for a Licensed
Agent or Product under this Agreement; 
 9.3.2 CRISPR will promptly notify Vertex of any material breach by one or more CRISPR Entities or
a Third Party of any CRISPR In-License Agreements or [***] that provides a grant of rights from such Third Party to one or more CRISPR Entities and are licensed or may become subject to a license from CRISPR to Vertex to conduct Vertex Activities or
for a Licensed Agent or Product under this Agreement, and in the event of a breach by [***], will [***]. CRISPR will [***] as soon as possible, but in no event later than the date on which [***]; 

9.3.3 it will not amend, modify or terminate any CRISPR In-License Agreement or [***] in a manner that would have an adverse effect on
Vertex’s rights hereunder without first obtaining Vertex’s written consent, which consent may be withheld in Vertex’s sole discretion; 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 52 

 9.3.4 it will not enter into any new agreement or other obligation with any Third Party, or amend
an existing agreement with a Third Party, in each case that adversely restricts, limits or encumbers the rights granted to Vertex under this Agreement or the additional rights or licenses Vertex would acquire upon Option Exercise; 

9.3.5 it will not, and will cause its Affiliates not to (a) license, sell, assign or otherwise transfer to any Person any Licensed Technology
(or agree to do any of the foregoing), except as provided in Section 8.1.3 or except as will not adversely restrict, limit or encumber the rights granted to Vertex under this Agreement or the additional rights or licenses Vertex would acquire
upon Option Exercise, or (b) incur or permit to exist, with respect to any Licensed Technology, any lien, encumbrance, charge, security interest, mortgage, liability, grant of license to Third Parties or other restriction (including in connection
with any indebtedness); 
 9.3.6 it will use Commercially Reasonable Efforts to obtain and maintain the requisite resources and expertise to
perform its obligations hereunder; 
 9.3.7 all employees and Subcontractors of CRISPR performing Research or Development activities
hereunder on behalf of CRISPR will be obligated to assign to CRISPR all right, title and interest in and to any inventions developed by them, whether or not patentable, or, solely with respect to Subcontractors, grant exclusive license rights to
CRISPR with a right to grant sublicenses through multiple tiers; 
 9.3.8 it will not engage, in any capacity in connection with this
Agreement any Person who either has been debarred by the FDA, is the subject of a conviction described in Section 306 of the FD&C Act or is subject to any such similar sanction; 

9.3.9 CRISPR will inform Vertex in writing promptly if it or any Person engaged by CRISPR or any of its Affiliates who is performing services
under this Agreement or any ancillary agreements is debarred or is the subject of a conviction described in Section 306 of the FD&C Act, or if any action, suit, claim, investigation or legal or administrative proceeding is pending or, to
CRISPR’s Knowledge, is threatened, relating to the debarment or conviction of CRISPR, any of its Affiliates or any such Person performing services hereunder or thereunder; 

9.3.10 Within [***] after the Effective Date, [***] will take all actions necessary (including, without limitation, [***] to ensure [***],
effective [***], which actions may include, without limitation, [***] and executing all documents necessary in connection therewith. 

9.3.11 CRISPR shall use Commercially Reasonable Efforts (A) to, within [***] of the Effective Date, [***] directly or indirectly [***] that
[***], that have [***] and that [***] and other intellectual property rights or (B) shall otherwise work together [***]. To the extent [***] execute such documents as are necessary to [***] and (ii) CRISPR shall [***] and the [***] shall be [***].

 9.4 Vertex Covenants. Vertex hereby covenants to CRISPR that, except as expressly permitted under this Agreement: 

9.4.1 it will use Commercially Reasonable Efforts to obtain and maintain the requisite resources and expertise to perform its obligations
hereunder; 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 53 

 9.4.2 Vertex will not engage, in any capacity in connection with this Agreement any Person who
either has been debarred by the FDA, is the subject of a conviction described in Section 306 of the FD&C Act or is subject to any such similar sanction; and 

9.4.3 Vertex will inform CRISPR in writing promptly if it or any Person engaged by Vertex or any of its Affiliates who is performing services
under this Agreement or any ancillary agreements is debarred or is the subject of a conviction described in Section 306 of the FD&C Act, or if any action, suit, claim, investigation or legal or administrative proceeding is pending or,
[***], is threatened, relating to the debarment or conviction of CRISPR, any of its Affiliates or any such Person performing services hereunder or thereunder. 

9.5 Disclaimer. Except as otherwise expressly set forth in this Agreement, neither Party nor its Affiliates makes any representation or
extends any warranty of any kind, either express or implied, including any warranty of merchantability or fitness for a particular purpose. Vertex and CRISPR understand that each Product is the subject of ongoing Research and Development and that
neither Party can assure the safety, usefulness or commercial or technical viability of any Product. 
 ARTICLE 10 

INDEMNIFICATION; INSURANCE 

10.1 Indemnification by Vertex. Vertex will indemnify, defend and hold harmless CRISPR, each of its Affiliates, and each of its and its
Affiliates’ employees, officers, directors and agents (each, an “CRISPR Indemnified Party”) from and against any and all liability, loss, damage, expense (including reasonable attorneys’ fees and expenses) and cost
(collectively, a “Liability”) that the CRISPR Indemnified Party may be required to pay to one or more Third Parties to the extent resulting from or arising out of: 

10.1.1 any claims of any nature arising out of the Research, Development, Manufacture, Commercialization or use of any Licensed Agent or
Product by, on behalf of, or under the authority of, Vertex (other than by any CRISPR Indemnified Party), other than (a) claims by Third Parties relating to misappropriation of trade secrets or other intellectual property rights arising out of
the exercise of rights under the Licensed Know-How, or (b) claims for which CRISPR is required to indemnify Vertex pursuant to Section 10.2; or 

10.1.2 the material breach by Vertex of any of its representations, warranties or covenants set forth in this Agreement, except to the extent
caused by the negligence or intentional acts of CRISPR or any CRISPR Indemnified Party. 
 10.2 Indemnification by CRISPR. Each
CRISPR Entity will jointly and severally indemnify, defend and hold harmless Vertex, its Affiliates, Sublicensees, distributors and each of its and their respective employees, officers, directors and agents (each, a “Vertex Indemnified
Party”) from and against any and all Liabilities that the Vertex Indemnified Party may be required to pay to one or more Third Parties to the extent resulting from or arising out of: 

10.2.1 the material breach by CRISPR (or any CRISPR Entity(ies)) of any of its representations, warranties or covenants set forth in this
Agreement, except to the extent caused by the negligence or intentional acts of Vertex or any Vertex Indemnified Party; or 
 10.2.2 any
claims of any nature arising out of the Research activities performed by CRISPR (or any CRISPR Entity(ies)) with respect to any Licensed Agent or Product prior to the Effective Date or during the Research Term, other than claims for which Vertex is
required to indemnify CRISPR pursuant to Section 10.1. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 54 

 10.3 Procedure. Each Party will notify the other Party in writing if it becomes aware of a
claim for which indemnification may be sought hereunder. In case any proceeding (including any governmental investigation) will be instituted involving any Party in respect of which indemnity may be sought pursuant to this ARTICLE 10,
such Party (the “Indemnified Party”) will give prompt written notice of the indemnity claim to the other Party (the “Indemnifying Party”) and provide a copy to the Indemnifying Party of any complaint, summons or
other written or verbal notice that the Indemnified Party receives in connection with any such claim. An Indemnified Party’s failure to deliver written notice will relieve the Indemnifying Party of liability to the Indemnified Party under this
ARTICLE 10 only to the extent such delay is prejudicial to the Indemnifying Party’s ability to defend such claim. Provided that the Indemnifying Party is not contesting the indemnity obligation, the Indemnified Party will permit the
Indemnifying Party to control any litigation relating to such claim and the disposition of such claim by negotiated settlement or otherwise and any failure to contest prior to assuming control will be deemed to be an admission of the obligation to
indemnify. The Indemnifying Party will act reasonably and in good faith with respect to all matters relating to such claim and will not settle or otherwise resolve such claim without the Indemnified Party’s prior written consent which will not
be withheld, delayed or conditioned unreasonably other than settlements only involving the payment of monetary awards for which the Indemnifying Party will be fully-responsible. The Indemnified Party will cooperate with the Indemnifying Party in
such Party’s defense of any claim for which indemnity is sought under this Agreement, at the Indemnifying Party’s sole cost and expense. 

10.4 Insurance. Each Party will maintain, at its cost, reasonable insurance against liability and other risks associated with its
activities contemplated by this Agreement and will furnish to the other Party evidence of such insurance upon request. Notwithstanding the foregoing, Vertex may self-insure to the extent that it self-insures for its other activities. 

10.5 Limitation of Consequential Damages. Except for (a) claims of a Third Party that are subject to indemnification under this
ARTICLE 10, (b) claims arising out of a Party’s willful misconduct, or (c) a Party’s breach of Section 2.13 or ARTICLE 12, neither Party nor any of its Affiliates will be liable to the other Party or its
Affiliates for any incidental, consequential, special, punitive or other indirect damages or lost or imputed profits or royalties, lost data or cost of procurement of substitute goods or services, whether liability is asserted in contract, tort
(including negligence and strict product liability), indemnity or contribution, and irrespective of whether that Party or any representative of that Party has been advised of, or otherwise might have anticipated the possibility of, any such loss or
damage. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 55 

 ARTICLE 11 

TERM; TERMINATION 
 11.1
Agreement Term; Expiration. This Agreement is effective as of the Effective Date and, unless earlier terminated pursuant to the other provisions of this ARTICLE 11, will continue in full force and effect until this Agreement
expires as follows: 
 11.1.1 on a country-by-country and Product-by-Product basis, on the date of expiration of all payment obligations
under this Agreement with respect to such Product in such country; 
 11.1.2 in its entirety upon the expiration of all payment obligations
under this Agreement with respect to all Products in all countries pursuant to Section 11.1.1; and 
 11.1.3 in its entirety
upon expiration of all Options if Vertex has not exercised any Option as provided in Section 4.1.1. 
 11.2 Termination of
the Agreement. 
 11.2.1 Vertex’s Termination for Convenience. Vertex will be entitled to terminate this Agreement as a
whole, or terminate this Agreement in part with respect to a particular Collaboration Program, for convenience by providing CRISPR 90 days’ written notice of such termination; provided, however, that if any termination under this
Section 11.2.1 applies to a Product for which Vertex has received Marketing Approval, Vertex will provide CRISPR no less than 270 days’ notice of such termination. 

11.2.2 Termination Due to Failure to Obtain HSR Clearance. If the Parties make an HSR Filing with respect to a Collaboration Target
under Section 4.1.2 and the HSR Clearance Date has not occurred on or prior to [***] after the effective date of the latest HSR Filing made by the Parties with respect to a Collaboration Target, this Agreement will terminate solely with
respect to the applicable Collaboration Program at the election of either Party immediately upon notice to the other Party, if (a) the FTC or the DOJ has instituted (or threatened to institute) any action, suit or proceeding including seeking,
threatening to seek or obtaining a preliminary injunction under the HSR Act against Vertex and CRISPR to enjoin or otherwise prohibit the transactions contemplated by this Agreement related to such proposed Collaboration Program, or (b) the Parties
have not resolved any and all objections of the FTC and DOJ as contemplated by Section 4.1.2(b). Notwithstanding the foregoing, this Section 11.2.2 will not apply if an HSR Filing is not required for Vertex to receive the
Exclusive License with respect to a Collaboration Target. If this Agreement is terminated pursuant to this Section 11.2.2 with respect to a particular Collaboration Target, such Collaboration Target will not count towards the Option Cap.
If, following termination of this Agreement with respect to a Collaboration Target under this Section 11.2.2, CRISPR or any of its Affiliates or sublicensees Commercializes a Product for the relevant Collaboration Target, [***] of (i)
[***] and (ii) [***]. 
 11.2.3 [***]. The terms of Sections 1.117, 7.5.2, 7.5.5, 7.7, 7.8,
7.9 and 7.10 will apply with respect [***], mutatis mutandis. 
 11.2.4 Termination for Material Breach. 

(a) Vertex’s Right to Terminate. If CRISPR (or any CRISPR Entity(ies)) is in material breach of this Agreement,
then Vertex may deliver notice of 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 56 

 
such material breach to CRISPR. If the breach is curable, CRISPR will have [***] from the receipt of such notice to cure such breach. If either CRISPR fails to cure such breach within such [***]
period or the breach is not subject to cure (a “CRISPR Breach Event”), Vertex may either (i) terminate this Agreement (A) if such breach relates solely relates to a particular Collaboration Program, with respect to the Collaboration
Program affected by such breach (a “CRISPR Program Breach”) or (B) if such breach relates to multiple Collaboration Programs or this Agreement as a whole (a “CRISPR Agreement Breach”), in its entirety, by providing
written notice to CRISPR or (ii) elect to exercise the alternate remedy provisions set forth in Section 11.3 (in lieu of termination). 

(b) CRISPR’s Right to Terminate. 

(i) If Vertex is in material breach of this Agreement, then CRISPR may deliver notice of such material breach to Vertex. If
the breach is curable, Vertex will have [***] following receipt of such notice to cure such breach (except to the extent such breach involves the failure to make a payment when due, which breach must be cured within [***] following receipt of such
notice). If Vertex fails to cure such breach within the [***] or [***] period, as applicable, or the breach is not subject to cure, CRISPR in its sole discretion may terminate this Agreement (i) if such breach relates solely relates to a particular
Collaboration Program, with respect to the Collaboration Program affected by such breach or (ii) if such breach relates to multiple Collaboration Programs or this Agreement as a whole, in its entirety, by providing written notice to Vertex. 

(ii) If Vertex (A) commences or actively and voluntarily participates in any action or proceeding (including any patent
opposition or re-examination proceeding), or otherwise asserts any claim, challenging or denying the validity or enforceability of any claim of any Patent that is licensed to Vertex under this Agreement or (B)
actively and voluntarily assists any other Person in bringing or prosecuting any action or proceeding (including any patent opposition or re-examination proceeding) challenging or denying the validity or enforceability of any claim of any Patent
that is licensed to Vertex under this Agreement (each of (A) and (B), a “Patent Challenge”), then, to the extent permitted by Applicable Law, CRISPR shall have the right, in its sole discretion, to give notice to Vertex that CRISPR
may terminate the license(s) granted under such Patent to Vertex [***] following such notice, and, unless Vertex withdraws or causes to be withdrawn all such challenge(s) (or in the case of ex-parte proceedings, multi-party proceedings, or
other Patent Challenges that Vertex does not have the power to unilaterally withdraw or cause to be withdrawn), Vertex ceases assisting any other party to such Patent Challenge and, to the extent Vertex is a party to such Patent Challenge, it
withdraws from such Patent Challenge within such [***] period, CRISPR shall have the right to terminate this Agreement by providing written notice thereof to Vertex. The foregoing right to terminate shall not apply with respect to any Patent
Challenge where the Patent Challenge is made in defense of an assertion of the relevant Patent that is first brought by CRISPR against Vertex. For the avoidance of doubt, any participation by Vertex or its employees in any claim, challenge or
proceeding in response to a subpoena or as required under a pre-existing agreement between Vertex’s employee(s) or consultant(s) and their prior employer(s) shall not constitute active and voluntary participation or assistance and shall not
give rise to CRISPR’s right to terminate any license hereunder. 
  
 [***] =
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 406 of the Securities Act of 1933, as amended. 

  
 57 

 11.2.5 Disputes Regarding Material Breach. Notwithstanding the foregoing, if the Breaching
Party in Section 11.2.3 disputes in good faith the existence, materiality, or failure to cure of any such breach that is not a payment breach, and provides notice to the Non-Breaching Party of such
dispute within the relevant cure period, the Non-Breaching Party will not have the right to terminate this Agreement in accordance with Section 11.2.3, or the right to exercise the alternative remedy provisions of 11.3, as
applicable, unless and until the relevant dispute has been resolved. It is understood and acknowledged that during the pendency of such dispute, all the terms and conditions of this Agreement will remain in effect and the Parties will continue to
perform all of their respective obligations hereunder. 
 11.2.6 Termination for Insolvency. If CRISPR (or any CRISPR Entity(ies))
makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against
it that is not discharged within [***] of the filing thereof (each, an “Insolvency Event”), then Vertex may terminate this Agreement in its entirety effective immediately upon written notice to CRISPR. If Vertex terminates this
Agreement pursuant to this Section 11.2.5: 
 (a) All rights and licenses now or hereafter granted by CRISPR to
Vertex under or pursuant to this Agreement, including, for the avoidance of doubt, any Exclusive Licenses are, for all purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined in
the U.S. Bankruptcy Code. Upon the occurrence of any Insolvency Event with respect to CRISPR (or any CRISPR Entity(ies)), CRISPR agrees that Vertex, as licensee of such rights under this Agreement, will retain and may fully exercise all of its
rights and elections under the U.S. Bankruptcy Code. CRISPR will, during the term of this Agreement, create and maintain current copies or, if not amenable to copying, detailed descriptions or other appropriate embodiments, to the extent feasible,
of all intellectual property licensed under this Agreement. Each Party acknowledges and agrees that “embodiments” of intellectual property within the meaning of Section 365(n) include laboratory notebooks, cell lines, product samples
and inventory, research studies and data, all Regulatory Approvals (and all applications for Regulatory Approval) and rights of reference therein, the Licensed Technology and all information related to the Licensed Technology. If (x) a case under
the U.S. Bankruptcy Code is commenced by or against CRISPR (or any CRISPR Entity(ies)), (y) this Agreement is rejected as provided in the U.S. Bankruptcy Code, and (z) Vertex elects to retain its rights hereunder as provided in Section 365(n)
of the U.S. Bankruptcy Code, CRISPR (in any capacity, including debtor-in-possession) and its successors and assigns (including a trustee) will: 

(i) provide to Vertex all such intellectual property (including all embodiments thereof) held by CRISPR and such successors
and assigns, or otherwise available to them, immediately upon Vertex’s written request. Whenever CRISPR or any of its successors or assigns provides to Vertex any of the intellectual property licensed hereunder (or any embodiment thereof)
pursuant to this Section 11.2.5(a)(i), Vertex will 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 58 

 
have the right to perform CRISPR’s obligations hereunder with respect to such intellectual property, but neither such provision nor such performance by Vertex will release CRISPR from
liability resulting from rejection of the license or the failure to perform such obligations; and 
 (ii) not interfere with
Vertex’s rights under this Agreement, or any agreement supplemental hereto, to such intellectual property (including such embodiments), including any right to obtain such intellectual property (or such embodiments) from another entity, to the
extent provided in Section 365(n) of the U.S. Bankruptcy Code. 
 (b) All rights, powers and remedies of Vertex provided
herein are in addition to and not in substitution for any and all other rights, powers and remedies now or hereafter existing at law or in equity (including the U.S. Bankruptcy Code) in the event of the commencement of a case under the U.S.
Bankruptcy Code with respect to CRISPR. The Parties agree that they intend the following rights to extend to the maximum extent permitted by Applicable Law, and to be enforceable under U.S. Bankruptcy Code Section 365(n): 

(i) the right of access to any intellectual property rights (including all embodiments thereof) of CRISPR, or any Third Party
with whom CRISPR contracts to perform an obligation of CRISPR under this Agreement, and, in the case of any such Third Party, which is necessary for the Manufacture, use, sale, import or export of Licensed Agents; and 

(ii) the right to contract directly with any Third Party to complete the contracted work. 

11.3 Alternative Remedies to Termination. 

11.3.1 Prior to Option Exercise. If a CRISPR Breach Event occurs prior to Vertex exercising its Option with respect to a particular
Collaboration Target, Vertex may elect the alternative remedy provisions of this Section 11.3.1 with respect to each Collaboration Target for which it has not yet exercised the Option and that is subject to such CRISPR Breach Event (in
the case of a CRISPR Program Breach), or all such Collaboration Targets (in the case of a CRISPR Agreement Breach), by providing written notice of such election to CRISPR, in which case, this Agreement will continue in full force and effect with the
following modifications with respect to each Collaboration Target for which Vertex elects to exercise its rights under this Section 11.3.1. If Vertex exercises its rights under this Section 11.3.1, such exercise shall be
Vertex’s sole remedy in connection with such CRISPR Breach Event; Vertex shall have no other rights hereunder or at law or in equity with respect to the relevant CRISPR Breach Event; and CRISPR shall have no obligation to cure such CRISPR
Breach Event. 
 (a) if CRISPR has not completed the activities for which it is responsible under the applicable Research
Plan, [***], in which case, [***], If [***] for such activities, CRISPR will [***] and Vertex will [***] as provided herein; 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 59 

 (b) Vertex’s obligations under [***] will not apply with respect to the
applicable Collaboration Target; 
 (c) CRISPR will provide to Vertex [***] and [***] in [***] under the relevant [***] in an
efficient and orderly manner; 
 (d) in the event that Vertex subsequently elects to obtain the Exclusive License with
respect to any such Collaboration Target, such election shall be regarded as an Option pursuant to Section 4.1.1 (subject to the Option Cap), provided that [***]. 

11.3.2 After Option Exercise. If a CRISPR Breach Event occurs after Vertex exercises its Option with respect to a particular
Collaboration Target, Vertex may elect the alternative remedy provisions of this Section 11.3.2 with respect to any Collaboration Target for which it has exercised the Option and that is subject to such CRISPR Breach Event (in the case
of a CRISPR Program Breach), or all such Collaboration Targets (in the case of a CRISPR Agreement Breach), by providing written notice of such election to CRISPR, in which case, this Agreement will continue in full force and effect with the
following modifications with respect to each Collaboration Target for which Vertex elects to exercise its rights under this Section 11.3.2, each at Vertex’s election. If Vertex exercises its rights under this
Section 11.3.2, such exercise shall be Vertex’s sole remedy in connection with such CRISPR Breach Event; Vertex shall have no other rights hereunder or at law or in equity with respect to the relevant CRISPR Breach Event; and CRISPR
shall have no obligation to cure such CRISPR Breach Event. 
 (a) CRISPR’s right to [***]; 

(b) Vertex may [***] required or permitted [***] established pursuant to this Agreement in connection with the [***];
provided, however, Vertex will not have the right to: (i) [***] of this Agreement; (ii) [***] of the Parties, (iii) [***] under this Agreement; (iv) exercise its [***] would constitute a violation of an Applicable Law; (v) make a
determination [***] under this Agreement or (vi) require [***], whether internal or external, including capital expenditures for which [***] as provided herein; and 

(c) to the extent CRISPR is then conducting Additional Research, Vertex may, but will not be obligated to, assume
responsibility for such Additional Research, in which case, Vertex’s obligation to fund such activities as provided in Section 7.4 will terminate. If Vertex does not elect to assume responsibility for such activities, CRISPR will
continue to perform such activities and Vertex will continue to reimburse CRISPR for Research Costs arising out of such activities as provided herein. 

11.3.3 [***]. If (a) CRISPR (or any CRISPR Entity(ies)) commits a breach or series of breaches of this Agreement, (b) Vertex incurs at
least [***] in aggregate losses, damages and expenses as a result of such breach or breaches, (c) Vertex does not terminate this Agreement in its entirety or with respect to a Collaboration Target or Product due to such breach or breaches, and (d)
Vertex has not exercised its rights under Section 11.3.1 or 11.3.2, as applicable, with respect to such breach or breaches, then, in addition to any other remedies Vertex may have under this Agreement, at law or in equity or
otherwise, [***]. [***] Vertex 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 60 

 
will provide CRISPR with a written certificate, signed by Vertex’s Chief Financial Officer, certifying [***]. Notwithstanding the foregoing, if CRISPR notifies Vertex in writing that it
disputes Vertex’s assertion that CRISPR (or any CRISPR Entity (ies)) is in breach of this Agreement [***], then (a) Vertex will initiate the dispute resolution process set forth in Section 11.3.4, and (b) pending the Parties’
agreement regarding the appropriate [***] or a determination by the mediator [***] in accordance with Section 11.3.4(b), Vertex will [***]. If the Parties cannot settle their dispute by mutual agreement, then, in accordance with
Section 11.3.4 (b), the mediator will determine (1) [***], (2) [***] and (3) if [***], in which case Vertex [***]. 

11.3.4 [***] Dispute Resolution. 

(a) Escalation. If Vertex has exercised its [***] rights under Section 11.3.3, and there is a dispute
regarding whether CRISPR is in breach of this Agreement [***], either Party may make a written request that [***] be referred for resolution to Executive Officers of each Party (or their designees). Within [***] after such request, the Executive
Officers of each Party (or their designees) will meet in person at a mutually acceptable time and location or by means of telephone or video conference to negotiate a settlement of a [***]. Each Party may elect to have such Party’s JRC
representatives participate in such meeting, if desired, provided that it provides the other Party with reasonable advance notice of such intent so as to enable the other Party to have its JRC representatives also participate in such meeting,
if desired. In the event that the Executive Officers of each Party (or their designees) fail to resolve the [***] within such [***] the [***] will be referred to mediation under Section 11.3.4(b). 

(b) Mediation. If a [***] cannot be resolved pursuant to Section 11.3.4(a), the Parties agree to try in good
faith to resolve any such [***] by non-binding mediation administered by JAMS End Dispute in accordance with its commercial mediation rules. The mediation will be conducted by a single mediator appointed by agreement of the Parties who will have
previous financial experience in the pharmaceutical industry, or failing such agreement by JAMS End Dispute in accordance with its commercial mediation rules. Unless otherwise mutually agreed upon by the Parties, the mediation proceedings will be
conducted in Boston, Massachusetts. The Parties agree that [***] the cost of the mediation, including filing and hearing fees, and the cost of the mediator(s). Each Party will bear its own attorneys’ fees and associated costs and expenses. If
the Parties are unable to resolve a [***] pursuant to such mediation, then at the completion of such mediation the mediator will decide the following issues, which decision will be binding on the Parties pending final resolution of the [***] by a
court of competent jurisdiction: 
 (i) Whether the [***] by Vertex pursuant to Section 11.3.3 exceeds the
mediator’s objective good faith estimate of [***]; and 
 (ii) What amount (if any) may Vertex [***] under
Section 11.3.3, which [***]. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 61 

 (c) Mediator Resolution. 

(i) If the mediator determines that [***] by Vertex pursuant to Section 11.3.3 [***], the Parties will promptly
cause [***] as provided for in Section 7.10. The Parties will promptly cause [***]. 
 (ii) If the mediator
determines that Vertex may [***] under Section 11.3.3, Vertex may [***]. 
 (iii) The decisions rendered by
mediator with respect to [***] will be binding on the Parties pending resolution of the [***] by the agreement of the Parties or by a court of competent jurisdiction in accordance with this Agreement. 

11.4 Consequences of Expiration or Termination of the Agreement. 

11.4.1 In General. If this Agreement expires or is terminated by a Party in accordance with this ARTICLE 11 at any time and
for any reason, the following terms will apply to any Product in any country that is the subject of such expiration or termination: 

(a) The Parties will return (or destroy, as directed by the other Party) all data, files, records and other materials
containing or comprising the other Party’s Confidential Information, except to the extent such Confidential Information is subject to a license or similar grant of rights that survives such termination or is necessary or useful to conduct
activities for a surviving Collaboration Program or Product or country. Notwithstanding the foregoing, the Parties will be permitted to retain one copy of such data, files, records, and other materials for archival and legal compliance purposes.

 (b) Termination or expiration of this Agreement for any reason will be without prejudice to any rights or financial
compensation that will have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration will not relieve a Party from obligations that are expressly indicated to survive the termination or expiration of
this Agreement. 
 (c) The following provisions of this Agreement will survive any expiration or termination of this
Agreement: Article 1 (Definitions), Section 5.3 (License Grants to Vertex) (solely in the event of expiration, not termination) Section 5.4 (Licenses to Improvements), Section 5.6 (No Implied
Licenses), Article 7 (Financial Provisions), solely to the extent of accrued obligation as contemplated by Section 11.4.1(b), Section 8.1.1 (Ownership; Assignment - CRISPR Technology and Vertex Technology),
8.1.2 (Ownership; Assignment - Agreement Technology), Sections 8.5-8.6 (with respect to proceedings to the extent relating to events occurring prior to the effective date of termination) 8.6.4 (Joinder),
Article 10 (Indemnification; Insurance), Section 11.2.5 (Public Announcements; Publications), Section 11.4 (Consequences of Expiration or Termination of the Agreement), Sections 12.1, 12.2,
12.3, 12.4 and 12.6 (Confidentiality) and Article 13 (Miscellaneous).” 
 11.4.2 Termination Before
License Grant. If this Agreement expires or is terminated, in whole or in part with respect to a Collaboration Target, by a Party in accordance with this ARTICLE 11 before Vertex has been granted an Exclusive License for a particular
Collaboration Target, then, in addition to the terms set forth in Section 11.4.1, the following terms will apply to each Collaboration Target that is the subject of such expiration or termination: 

(a) Vertex’s Option under Section 4.1 will expire and CRISPR will be free to Research, Develop, Manufacture
and Commercialize the applicable Licensed Agents or Products in the applicable counties on its own or with a Third Party; 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 62 

 (b) except with respect to (i) any termination by Vertex under
Section 11.2.3(a) or (ii) any expiration or termination with respect to a Collaboration Target that is associated with [***], effective upon such termination, Vertex hereby grants to CRISPR a non-exclusive, royalty-free, irrevocable,
perpetual, worldwide license, which CRISPR may sublicense through multiple tiers, under all Vertex Program Technology Controlled by Vertex or its Affiliates (A) generated under the applicable Collaboration Program or (B) used in such terminated
Collaboration Program to Develop, Manufacture and Commercialize Licensed Agents and Products directed to the relevant Collaboration Target; provided, that if the grant of such license to CRISPR with respect to any Know-How or Patent included
in the Vertex Program Technology or CRISPR’s exercise of such license would [***] or would require compliance with any provision of any license between Vertex and a Third Party, Vertex will so notify CRISPR and such Know-How or Patent will only
be included in the foregoing license if, following receipt of such notice, [***] and comply with any such provision; and 

(c) except as explicitly set forth in Section 11.4.1, Vertex will have no further rights and CRISPR will have no
further obligations with respect to each terminated Collaboration Target. 
 11.4.3 Termination After License Grant. If this
Agreement is terminated, in whole or in part with respect to a Product or Collaboration Target, by a Party in accordance with this ARTICLE 11 (but not if this Agreement expires in accordance with its terms) after Vertex has been granted an
Exclusive License for a particular Collaboration Target, then, in addition to the terms set forth in Section 11.4.1, the following terms will apply to any Product or Collaboration Target that is the subject of such termination: 

(a) except as set forth in Section 11.4.3(f), the applicable licenses granted by CRISPR to Vertex under this
Agreement will terminate and Vertex and its Affiliates will cease all Research, Development, Manufacture and Commercialization activities with respect to the applicable Products; 

(b) Vertex will assign back to the CRISPR Entity designated by CRISPR AG any Patents assigned to Vertex under
Section 8.1.3 that relate to the applicable Collaboration Target to the extent that such Patents do not also relate to a Collaboration Target for which Vertex is maintaining the Exclusive License; 

(c) except with respect to (i) any termination by Vertex under Section 11.2.3(a) or (ii) any expiration or
termination with respect to a Collaboration Target that is associated with [***], Vertex shall, as promptly as practicable, transfer to the CRISPR Entity designated by CRISPR AG or such CRISPR Entity’s designee 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 63 

 
possession and ownership of all Regulatory Approvals solely relating to the Development, Manufacture or Commercialization of any terminated Product or Collaboration Target within such terminated
Collaboration Program; 
 (d) except as explicitly set forth in Section 11.4.1, Vertex will have no further
rights and CRISPR will have no further obligations with respect to the terminated Products and Collaboration Target(s); 

(e) except with respect to (i) any termination by Vertex under Section 11.2.3(a) or (ii) any termination with
respect to a Collaboration Target that is associated with [***], and subject to Section 11.4.3(f), effective upon such termination, Vertex hereby grants to CRISPR a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license,
which CRISPR may sublicense through multiple tiers, under all Vertex Program Technology Controlled by Vertex or its Affiliates and (A) generated under the applicable Collaboration Program or (B) used in such terminated Collaboration Program to
Develop, Manufacture and Commercialize Licensed Agents and Products directed to the relevant Collaboration Target; provided, that if the grant of such license to CRISPR with respect to any Know-How or Patent included in the Vertex Program
Technology or CRISPR’s exercise of such license would [***] or would require compliance with any provision of any license between Vertex and a Third Party, Vertex will so notify CRISPR and such Know-How or Patent will only be included in the
foregoing license if, following receipt of such notice, [***] and comply with any such provision; and 
 (f) any permitted
Sublicense of Vertex will, at the Sublicensee’s option, survive such termination; provided that the Sublicensee is not in material breach of any of its obligations under such Sublicense. In order to effect this provision, at the request
of the Sublicensee, CRISPR will enter into a direct license with the Sublicensee on substantially the same terms as this Agreement (taking into account the scope of the licensee granted under such Sublicense); provided that CRISPR will not be
required to undertake obligations in addition to those required by this Agreement, and that CRISPR’s rights under such direct license will be consistent with its rights under this Agreement, taking into account the scope of the license granted
under such direct license. Any such Sublicense would continue to include rights to any Patent assigned to CRISPR pursuant to Section 11.4.3(b) to the extent such rights were included in such Sublicense prior to termination and the
license to CRISPR set forth in Section 11.4.3(e), if applicable, would not include rights to any Patent Controlled by Vertex to the extent such license would conflict with any rights granted to the relevant Sublicensee under such Patent.

 ARTICLE 12 

CONFIDENTIALITY 
 12.1
Confidentiality. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing, the Parties agree that, during the Agreement Term and for [***] thereafter, each Party (the “Receiving Party”)
receiving any Confidential Information of the other Party (the “Disclosing Party”) hereunder will: (a) keep the Disclosing Party’s Confidential Information confidential; (b) not publish, or allow to be published, and will not

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 64 

 
otherwise disclose, or permit the disclosure of, the Disclosing Party’s Confidential Information in any manner not expressly authorized pursuant to the terms of this Agreement; and (c) not
use, or permit to be used, the Disclosing Party’s Confidential Information for any purpose other than as expressly authorized pursuant to the terms of this Agreement. Without limiting the generality of the foregoing, to the extent that Vertex
provides to CRISPR (or any CRISPR Entity(ies)) any Confidential Information owned by any Third Party, CRISPR will handle such Confidential Information in accordance with the terms and conditions of this ARTICLE 12 applicable to a
Receiving Party. 
 12.2 Authorized Disclosure. Notwithstanding the foregoing provisions of Section 12.1, each Party may
disclose Confidential Information belonging to the other Party to the extent such disclosure is reasonably necessary to: 
 12.2.1 file or
prosecute patent applications as contemplated by this Agreement; 
 12.2.2 prosecute or defend litigation; 

12.2.3 exercise its rights and perform its obligations hereunder; or 

12.2.4 comply with Applicable Law. 

If a Party deems it reasonably necessary to disclose Confidential Information belonging to the other Party pursuant to this
Section 12.2, the Disclosing Party will to the extent possible give reasonable advance written notice of such disclosure to the other Party and take reasonable measures to ensure confidential treatment of such
information. In addition to the foregoing, [***] may disclose [***] Confidential Information to Third Parties as reasonably required to facilitate the actual or potential Research, Development, Manufacture or Commercialization of [***] or
Products; provided that such disclosure is covered by terms of confidentiality and non-use similar to those set forth herein. 

Notwithstanding anything to the contrary contained herein, in no event may [***] disclose [***] Confidential Information to any Third Party
(including any of CRISPR’s investors, collaborators or licensees) engaged in the research, development, manufacture or commercialization of pharmaceutical products. 

12.3 SEC Filings and Other Disclosures. Either Party may disclose the terms of this Agreement (i) to the extent required to comply with
Applicable Law, including the rules and regulations promulgated by the United States Securities and Exchange Commission or any equivalent governmental agency in any country in the Territory; provided, that such Party will reasonably consider
the comments of the other Party regarding confidential treatment sought for such disclosure and (ii) to its advisors (including financial advisors, attorneys and accountants), actual or potential acquisition partners, financing sources or investors
and underwriters on a need to know basis; provided that such disclosure is covered by terms of confidentiality similar to those set forth herein (which may include professional ethical obligations). 

12.4 Residual Knowledge Exception. Notwithstanding any provision of this Agreement to the contrary, Confidential Information will not
include Residual Knowledge. Any use made by the Receiving Party of Residual Knowledge is on an “as is, where is” basis, with all faults and all representations and warranties disclaimed and at its sole risk. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 65 

 12.5 Public Announcements; Publications. 

12.5.1 Coordination. CRISPR and Vertex will, from time to time and at the request of the other Party, discuss the general information
content relating to this Agreement that may be publicly disclosed; provided, however, that [***] will have no obligation to consult with [***] with respect to any scientific publication or public announcement concerning [***] Research,
Development, Manufacture, Commercialization or use of any [***] or Product (except as otherwise expressly set forth in Section 12.5.3). 

12.5.2 Announcements. The Parties will jointly issue a press release, in the form attached hereto as Schedule M, regarding
the signing of this Agreement on a date to be determined by Vertex within [***] following the Effective Date. Except as set forth in the preceding sentence and as may be expressly permitted under Section 12.3, or as required to comply
with Applicable Law (including the rules and regulations promulgated by the United States Securities and Exchange Commission or any equivalent governmental agency in any country in the Territory), neither Party will make any public announcement
regarding this Agreement without the prior written approval of the other Party. For the sake of clarity, nothing in this Agreement will prevent [***] from making any scientific publication or public announcement concerning [***] Research,
Development, Manufacture or Commercialization activities with respect to any [***] or Product under this Agreement; provided, however, that, except as permitted under Section 12.2, [***] will not disclose any of [***]
Confidential Information in any such publication or announcement without obtaining CRISPR’s prior written consent to do so. 
 12.5.3
Publications. During the Agreement Term, each Party will submit to the other Party (the “Non-Disclosing Party”) for review and approval any proposed academic, scientific and medical publication or public presentation related
to any Licensed Agent or Product or any activities conducted pursuant to any Research Plan. In each such instance, such review and approval will be conducted for the purposes of preserving the value of the Licensed Technology and the Vertex
Technology, the rights granted to Vertex hereunder and determining whether any portion of the proposed publication or presentation containing the Non-Disclosing Party’s Confidential Information should be modified or deleted. Written copies of
such proposed publication or presentation required to be submitted hereunder will be submitted to the Non-Disclosing Party no later than [***] before submission for publication or presentation (or five Business Days in advance in the case of an
abstract). The Non-Disclosing Party will provide its comments with respect to such publications and presentations within [***] of its receipt of such written copy (or [***] in the case of an abstract). The review period may be extended for an
additional [***] if the Non-Disclosing Party reasonably requests such extension including for the preparation and filing of patent applications. Notwithstanding anything to the contrary, the Non-Disclosing Party may require that the other Party
redact the Non-Disclosing Party’s Confidential Information from any such proposed publication or presentation. CRISPR and Vertex will each comply with standard academic practice regarding authorship of scientific publications and recognition of
contribution of other parties in any publication. Notwithstanding the foregoing, Vertex’s obligation to submit any publication to CRISPR for review and approval under this 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 66 

 
Section 12.5.3 will not apply to any publication made with respect to a Collaboration Program following Vertex’s exercise of the applicable Option that does not contain
CRISPR’s Confidential Information or disclose any non-public information included in the Licensed Technology; provided, that where reasonably possible, Vertex will provide CRISPR with an advance copy of such publication if such
publication is [***]. 
 12.6 Vertex Information Rights. 

12.6.1 If Vertex determines in good faith that CRISPR (or any CRISPR Entity(ies)) is an entity that is subject to financial consolidation with
Vertex for the purposes of its quarterly and annual financial statements (or otherwise requires such information in order to comply with GAAP), CRISPR will make available to Vertex: 

(a) as soon as practicable, but in any event within [***] after the end of each Calendar Quarter (i) an unaudited balance sheet
as of the end of such Calendar Quarter, (ii) unaudited statements of income and cash flows for such Calendar Quarter, (iii) an unaudited statement of stockholders’ equity for such period, and (iv) a detailed trial balance as of the end of
such Calendar Quarter, all prepared in accordance with GAAP (except that such financial statements may (x) be subject to year-end audit adjustments and (y) not contain all notes thereto that may be required in accordance with GAAP) and thereafter
will promptly provide such other information as Vertex may reasonably request; 
 (b) as soon as practicable, but in any
event within [***] after the end of each Calendar Year (i) an audited balance sheet as of the end of such Calendar Year, (ii) audited statements of income and cash flows for such Calendar Year, (iii) an audited statement of stockholders’ equity
for such Calendar Year and (iv) a detailed trial balance as of the end of such Calendar Year, together with related footnotes all prepared in accordance with GAAP and audited and certified by a nationally recognized independent public accounting
firm; and 
 (c) on or prior to December 31 of each Calendar Year (other than the Calendar Year ending December 31,
2015), such [***] as of [***] of such year as prepared by [***] 
 ARTICLE 13 

MISCELLANEOUS 
 13.1
Assignment. Neither this Agreement nor any interest hereunder will be assignable by either Party without the prior written consent of the other Party, except as follows: (a) Vertex, and subject to Section 13.2, CRISPR, may,
subject to the terms of this Agreement, assign its rights and obligations under this Agreement by way of sale of itself or the sale of the portion of such Party’s business to which this Agreement relates, through merger, sale of assets or sale
of stock or ownership interest; provided that such sale is not primarily for the benefit of its creditors; and provided further that no CRISPR Entity may assign its rights and obligations hereunder unless all CRISPR Entities are
assigning their rights and obligations hereunder to the same Third Party; and (b) either Party may assign its rights and obligations under this Agreement 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 67 

 
to any of its Affiliates; provided that such Party will remain liable for all of its rights and obligations under this Agreement. An assigning Party will promptly notify the other Party of
any assignment or transfer under the provisions of this Section 13.1. This Agreement will be binding upon the successors and permitted assigns of the Parties and the name of a Party appearing herein will be deemed to include the names of
such Party’s successors and permitted assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not in accordance with this Section 13.1 will be void. 

13.2 Change of Control of CRISPR. 

13.2.1 Notification. CRISPR will notify Vertex in writing promptly (and in any event within [***] Business Days) following the
execution of a definitive agreement by any CRISPR Entity, its Affiliates or its equity holders that could reasonably be expected to result in a Change of Control of any CRISPR Entity. 

13.2.2 Effects of Change of Control of CRISPR. If during the Agreement Term any CRISPR Entity undergoes a Change of Control to a
Competitor, then upon the effective date of such Change of Control (a) Vertex’s obligation to provide CRISPR [***] will terminate and (b) Vertex will [***] with respect to the [***]. 

13.3 Force Majeure. Each Party will be excused from the performance of its obligations under this Agreement to the extent that such
performance is prevented by Force Majeure and the nonperforming Party promptly provides notice of the prevention to the other Party. Such excuse will be continued so long as the condition constituting force majeure continues and the nonperforming
Party uses Commercially Reasonable Efforts to remove the condition. 
 13.4 Representation by Legal Counsel. Each Party hereto
represents that it has been represented by legal counsel in connection with this Agreement and acknowledges that it has participated in the drafting hereof. In interpreting and applying the terms and provisions of this Agreement, the Parties agree
that no presumption will exist or be implied against the Party that drafted such terms and provisions. 
 13.5 Notices. All notices
which are required or permitted hereunder will be in writing and sufficient if delivered personally or sent by nationally-recognized overnight courier, addressed as follows: 

If to Vertex: 
 Vertex
Pharmaceuticals Incorporated 
 Attn: Business Development 

50 Northern Avenue 
 Boston,
Massachusetts 02110 
 with a copy to: 

Vertex Pharmaceuticals Incorporated 

Attn: Corporate Legal 
 50
Northern Avenue 
 Boston, Massachusetts 02110 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 68 

 and: 

Ropes & Gray LLP 

Attn: Marc A. Rubenstein 

Prudential Tower 
 800 Boylston
Street 
 Boston, Massachusetts 02199-3600 

If to CRISPR: 
 CRISPR
Therapeutics Ltd. 
 Attn: Chief Legal Officer 

85 Tottenham Court Road 
 London
W1T 4TQ 
 United Kingdom 

with a copy to: 
 Goodwin Procter
LLP 
 Attn: Christopher Denn 

53 State Street 
 Boston,
Massachusetts 02109 
 or to such other address as the Party to whom notice is to be given may have furnished to the other Party in writing in accordance
herewith. In addition, each Party will deliver a courtesy copy to the other Party’s Alliance Manager concurrently with such notice. Any such notice will be deemed to have been given: (a) when delivered if personally delivered on
a Business Day (or if delivered or sent on a non-business day, then on the next Business Day); or (b) on receipt if sent by overnight courier. Any notices required or permitted under this Agreement that are delivered by Vertex to CRISPR AG
pursuant to this Section 13.5 shall be deemed properly delivered hereunder to each of CRISPR UK, CRISPR AG, CRISPR Inc. and Tracr. 

13.6 Amendment. No amendment, modification or supplement of any provision of this Agreement will be valid or effective unless made in
writing and signed by a duly authorized officer of each of Vertex Parent, Vertex UK and CRISPR AG, CRISPR Inc., CRISPR UK and Tracr. 
 13.7
Waiver. No provision of this Agreement will be waived by any act, omission or knowledge of a Party or its agents or employees except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the
waiving Party. The waiver by either of Vertex or CRISPR of any breach of any provision hereof by the other Party will not be construed to be a waiver of any succeeding breach of such provision or a waiver of the provision itself. Written waiver of
any provision of this Agreement by of any one of the CRISPR Entities in accordance with this Section 13.7 shall be binding upon each of CRISPR UK, CRISPR AG, CRISPR Inc. and Tracr. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 69 

 13.8 Severability. If any clause or portion thereof in this Agreement is for any reason
held to be invalid, illegal or unenforceable, the same will not affect any other portion of this Agreement, as it is the intent of the Parties that this Agreement will be construed in such fashion as to maintain its existence, validity and
enforceability to the greatest extent possible. In any such event, this Agreement will be construed as if such clause of portion thereof had never been contained in this Agreement, and there will be deemed substituted therefor such provision as will
most nearly carry out the intent of the Parties as expressed in this Agreement to the fullest extent permitted by Applicable Law. 
 13.9
Descriptive Headings. The descriptive headings of this Agreement are for convenience only and will be of no force or effect in construing or interpreting any of the provisions of this Agreement. 

13.10 Export Control. This Agreement is made subject to any restrictions concerning the export of products or technical information
from the United States of America or other countries that may be imposed upon or related to CRISPR or Vertex from time to time. Each Party agrees that it will not export, directly or indirectly, any technical information acquired from the other
Party under this Agreement or any products using such technical information to a location or in a manner that at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from
the appropriate Governmental Authority. 
 13.11 Governing Law. This Agreement, and all claims arising under or in connection
therewith, will be governed by and interpreted in accordance with the substantive laws of The Commonwealth of Massachusetts, without regard to conflict of law principles thereof. 

13.12 Entire Agreement. This Agreement constitutes and contains the complete, final and exclusive understanding and agreement of the
Parties and cancels and supersedes any and all prior negotiations, correspondence, understandings and agreements, whether oral or written, between the Parties respecting the subject matter hereof and thereof, including that certain Confidentiality
Agreement between Vertex Parent and CRISPR dated May 6, 2015, which is hereby superseded and replaced in its entirety as of the Effective Date, and any Confidential Information disclosed by the Parties under such agreement will be treated in
accordance with the provisions of ARTICLE 12. 
 13.13 Independent Contractors. Both Parties are independent contractors
under this Agreement. Nothing herein contained will be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of their agents or employees, or any other legal arrangement that would impose
liability upon one Party for the act or failure to act of the other Party. Neither Party will have any express or implied power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party,
or to bind the other Party in any respect whatsoever. 
 13.14 Interpretation. Except where the context expressly requires otherwise,
(a) the use of any gender herein will be deemed to encompass references to either or both genders, and the use of the singular will be deemed to include the plural (and vice versa), (b) the words “include,” “includes” and
“including” will be deemed to be followed by the phrase “without limitation,” 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 70 

 (c) the word “will” will be construed to have the same meaning and effect as the word
“shall,” (d) any definition of or reference to any agreement, instrument or other document herein will be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (e) any reference herein to any Person will be construed to include the Person’s successors and assigns, (f) the words “herein,”
“hereof” and “hereunder,” and words of similar import, will be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (g) all references herein to Sections, Schedules or Exhibits will be
construed to refer to Sections, Schedules or Exhibits of this Agreement, and references to this Agreement include all Schedules and Exhibits hereto, (h) the word “notice” will mean notice in writing (whether or not specifically
stated) and will include notices, consents, approvals and other written communications contemplated under this Agreement, (i) provisions that require that a Party, the Parties or any committee hereunder “agree,” “consent” or
“approve” or the like will require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise (but excluding e-mail and instant messaging), (j) references to any
specific law, rule or regulation, or article, section or other division thereof, will be deemed to include the then-current amendments thereto or any replacement or successor law, rule or regulation thereof, (k) any definition of or reference to any
agreement, instrument or other document herein will be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein), and (l) the term “or” will be interpreted in the inclusive sense commonly associated with the term “and/or.” 

13.15 No Third Party Rights or Obligations. No provision of this Agreement will be deemed or construed in any way to result in the
creation of any rights or obligations in any Person not a Party to this Agreement. 
 13.16 Further Actions. Each Party agrees to
execute, acknowledge and deliver such further instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 

13.17 Counterparts. This Agreement may be executed in two counterparts, each of which will be an original and both of which will
constitute together the same document. Counterparts may be signed and delivered by facsimile or digital transmission (.pdf), each of which will be binding when received by the applicable Party. 

13.18 CRISPR Entities. Notwithstanding anything to the contrary in this Agreement: 

13.18.1 CRISPR UK, CRISPR AG, CRISPR Inc. and Tracr shall be jointly and severally liable to Vertex for all obligations of CRISPR under this
Agreement; 
 13.18.2 Breach or violation of any representation, warranty covenant or other obligation of CRISPR under this Agreement may
result from, be caused by or arise from the act or omission of any one or more of the CRISPR Entities; 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 71 

 13.18.3 Any particular right or interest of CRISPR under this Agreement shall only be exercisable
once by the first CRISPR Entity to exercise such right or interest hereunder on behalf of CRISPR (i.e., Vertex shall not be liable to more than one CRISPR Entity with respect to any particular right or interest of CRISPR hereunder, including,
without limitation, any payment obligations of Vertex hereunder); and 
 13.18.4 Any consent or approval of CRISPR permitted or required
under this Agreement by any one of CRISPR UK, CRISPR AG, CRISPR Inc. or Tracr shall be binding upon all of the CRISPR Entities. 

[SIGNATURE PAGE FOLLOWS] 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 72 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
representatives thereunto duly authorized as of the Effective Date. 
  

									
	VERTEX PHARMACEUTICALS INCORPORATED	 		 	CRISPR THERAPEUTICS AG
			
	  
	 		 	  

	By:	 	/s/ Ian Smith	 		 	By:	 	/s/ Rodger Novak
			
	  
	 		 	  

	Name:	 	Ian Smith	 		 	Name:	 	Rodger Novak
			
	  
	 		 	  

	Title:	 	Chief Financial Officer	 		 	Title:	 	CEO
			
	VERTEX PHARMACEUTICALS LIMITED	 		 	CRISPR THERAPEUTICS LIMITED
			
	  
	 		 	  

	By:	 	/s/ Ian Smith	 		 	By:	 	/s/ Rodger Novak
			
	  
	 		 	  

	Name:	 	Ian Smith	 		 	Name:	 	Rodger Novak
			
	  
	 		 	  

	Title:	 	Director	 		 	Title:	 	CEO

 Signature Page to Strategic Collaboration, Option and License Agreement 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  

 Schedule A 

CRISPR Reserved Targets 
 Following are
the CRISPR Reserved Targets: 
  

	 	1.	The following Targets: 

  

	 	a.	[***] 

  

	 	b.	[***] 

  

	 	c.	[***] 

  

	 	d.	[***] 

  

	 	e.	[***] 

  

	 	f.	[***] 

  

	 	h.	[***] 

  

	 	i.	[***] 

  

	 	j.	[***] 

  

	 	2.	All Targets that are, [***] (a) [***] or (b) [***] or (c) [***]. 

  

	 	3.	All Targets that are, at the time Vertex has proposed to add such a Target to the Vertex Target List, [***]. 

 

	 	4.	All Targets that are, at the time Vertex has proposed to add such a Target to the Vertex Target List, Targets that are [***]. 

All Targets that are, at the time Vertex has proposed to add such a Target to the Vertex Target List, Targets that are [***]. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE A 

 Schedule B 

Initial Vertex Targets 
  

	1)	CFTR (cystic fibrosis transmembrane conductance regulator) 

  

	2)	[***] 

  

	3)	[***] 

  

	4)	[***] 

  

	5)	[***] 

  

	6)	[***] 

  

	7)	[***] 

  

	8)	[***] 

  

	9)	[***] 

  

	10)	[***] 

  

	11)	[***] 

  

	12)	[***] 

  

	13)	[***] 

 Initial Collaboration Targets 

 

	1)	CFTR (cystic fibrosis transmembrane conductance regulator) 

  

	2)	[***] 

 [***] 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE B 

 Schedule C 

Option Exercise Data Package 
  

	•	 	Option Exercise Data Package. All data for the Option Exercise Data Package is pre-specified by the Collaboration Program Working Group and is reviewed and endorsed by the JRC. 

 

	•	 	The responsibilities below would be specified on a program by program basis and endorsed by the JRC ahead of beginning any Research Plan. 

 

	•	 	Upon completion of the work, the data for each item is presented to the JRC and compared to the pre-specification. The JRC endorses the interpretation that the data are or are not consistent with the
pre-specification. 

  

			
	 Item
	  	 Party Responsible for Generating
Item/Data

		
	[***]	  	CRISPR & Vertex
		
	[***]	  	CRISPR
		
	[***]	  	CRISPR
		
	[***]	  	CRISPR and Vertex
		
	[***]	  	Vertex and CRISPR
		
	[***]	  	Vertex
		
	[***]	  	Vertex
		
	[***]	  	CRISPR

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE C 

 Schedule D 

Initial Research Plan Components 
 The
following are key elements for the Research Plans. A full Research Plan will be created by the Collaboration Program Working Group utilizing these elements in accordance with Section 2.2. The provisions will be
approved by the JRC in accordance with ARTICLE 3. 
  

					
	 Target Name
	  	 Description
	  	 
			
	Work Plan Items	  	Listing of all items required to complete the work plan. This should include all of the items in Schedule C	  	Listing of responsible parties for each of the work items.
			
	Key milestones	  	Listing of key waypoints on the way to a transition agreement.	  	Listing of key dates for each of the milestones.
			
	Budget	  	 Out of Pocket Spend - CRISPR FTE - CRISPR
 FTE -
Vertex
	  	Listing of dollar amounts
			
	Key pieces of data and required values	  	Listing of key pieces of data expected in the Option Exercise Data Package. This is a critical element and will have to be carefully considered. E.g. for a [***] etc. are other possible values. These will be highly
Target specific.	  	Minimum acceptable values for each of these data. These should be prospective and objective wherever possible.
			
	Key dependencies	  	List key dependencies on various elements.	  	
			
	Assumptions	  	List project assumptions.	  	
			
	Risks	  	Listing of key risks, probabilities and impacts	  	Describe mitigation/ contingency/ avoidance plan

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE D 

 Schedule E 

Subcontractors 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE E 

 Schedule F 

CRISPR Background Know-How 

(as of 26 October 2015) 
  

	1)	Platform related automation and high-throughput: [***] 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE F 

 Schedule G 

Terms of Joint Development & Commercialization Agreement 

ARTICLE 1 
 DEFINITIONS

 1.1 “Audited Party” has the meaning set forth in Section 7.6. 

1.2 “Auditing Party” has the meaning set forth in Section 7.6. 

1.3 “Baseball Arbitration” means “baseball” style arbitration in accordance with the arbitration procedure
set forth on Schedule I of the Agreement. 
 1.4 “Commercialization Budget” has the meaning set
forth in Section 5.1. 
 1.5 “Commercialization Costs” means the sum of the following costs and
expenses incurred by the Parties or their respective Affiliates, in Commercializing the Shared Products (and related Manufacturing activities) in the Territory, in each case, to the extent incurred in accordance with the Commercialization Plan and
Commercialization Budget: 
 (a) Expenses incurred in connection with the [***]; 

(b) Expenses incurred to conduct [***]; 

(c) [***] representing the [***] as defined in the [***], in each case, to the extent directly attributable to [***]; 

(d) Expenses identifiable to the [***], in each case, to the extent incurred specifically with respect [***]; 

(e) Expenses incurred in connection with the [***]; 

(f) Expenses directly associated with [***], in each case, that are incurred with respect to a [***]; 

(g) [***]; 

(h) Expenses reasonably necessary and identifiable to the [***] with respect to: [***]; 

(i) [***] and 

(j) any other Expenses approved by the JCC and included in the Commercialization Budget that are not otherwise included in any
other Commercialization Cost category. 
 Commercialization Costs will exclude [***]. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 1.6 “Commercialization Plan” has the meaning set forth in
Section 5.1. 
 1.7 “Development Budget” has the meaning set forth in
Section 3.1. 
 1.8 “Development Costs” means the sum of the following costs and expenses
incurred by the Parties and their respective Affiliates in Developing the Shared Product (and related Manufacturing activities) in the Territory, in each case, to the extent incurred in accordance with the Global Development Plan and the Development
Budget, including: 
 (a) Expenses incurred in [***]; 

(b) [***]; 

(c) [***] incurred in connection with [***]; 

(d) Expenses associated with [***], to the extent incurred with respect to [***]; 

(e) Expenses incurred in connection with [***], including the Parties’ [***]; 

(f) Expenses associated with [***]; and 

(g) any other Expenses incurred for [***] and included in the [***]. 

Development Costs will exclude [***]. 

1.9 “Expenses” means Out-of-Pocket Costs and FTE Costs. 

1.10 “FTE Costs” means the product of (a) the number of FTEs (proportionately, on a per-FTE basis) used by a Party or its
Affiliates in directly performing activities assigned to such Party under and in accordance with the Global Development Plan, Commercialization Plan or Medical Affairs Plan, as applicable, and (b) the FTE Rate. 

1.11 “FTE” means one employee full-time for one year or more than one person working the equivalent of a full-time person,
working directly on performing activities under the Global Development Plan, Medical Affairs Plan or Commercialization Plan, as applicable, where “full-time” is considered [***] hours for one Calendar Year. No additional
payment will be made with respect to any individual who works more than [***] hours per Calendar Year and any individual who devotes less than [***] hours per Calendar Year will be treated as an FTE on a pro rata basis based upon the actual number
of hours worked divided by [***]. 
 1.12 “Global Development Plan” has the meaning set forth in
Section 3.1. 
 1.13 “Global Branding Strategy” has the meaning set forth in
Section 5.2.2. 
 1.14 “JCC” has the meaning set forth in Section 2.1.

 1.15 “JDC” has the meaning set forth in Section 2.1. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 1.16 “JSC” has the meaning set forth in Section 2.1.

 1.17 “Lead Commercialization Party” has the meaning set forth in Section 5.1. 

1.18 “Licensed Vertex Know-How” means (a) [***], that (i) [***] and (ii) [***], (b) [***] and (c) [***]. 

1.19 “Licensed Vertex Background Patents” means (a) [***] that (i) [***] and (ii) [***], (b) [***] and (c) the [***].

 1.20 “Manufacturing Costs” means the costs of Manufacturing Shared Product, which (a) to the extent such Shared Product
is Manufactured by a Party or its Affiliates, [***] and (b) to the extent such Shared Product is Manufactured by a Third Party in an arms-length transaction, [***]. 

1.21 “Manufacturing Working Group” has the meaning set forth in Section 6.1. 

1.22 “Medical Affairs Activities” means responding to external inquiries or complaints, the planning for and conduct of
investigator sponsored Clinical Trials not included in the Global Development Plan, medical education, speaker programs, advisory boards, thought leader activities, educational grants and fellowships, local country government affairs, Phase 3b
Clinical Trials, phase IV/post-Regulatory Approval Clinical Trials, generating health economics and outcomes research data from patient reported outcomes, prospective observational studies and retrospective observational studies, and economic models
and reimbursement dossiers, deployment of MSLs, medical affairs clinical trial management, doctors in field (other than MSLs), scientific publications and medical communications. 

1.23 “Medical Affairs Budget” has the meaning set forth in ARTICLE 4. 

1.24 “Medical Affairs Costs” means all Expenses incurred by the Parties in connection with the conduct of Medical Affairs
Activities in accordance with the Medical Affairs Plan and the Medical Affairs Budget; 
 1.25 “Medical Affairs Plan” has
the meaning set forth in ARTICLE 4. 
 1.26 “MSL” means medical science liaisons. 

1.27 “Net Loss” means, for a given period, Net Sales (including deemed Net Sales under
Section 8.6.5 of the Agreement) in the Territory less Program Expenses, where the result is a negative number. 

1.28 “Net Profit” means, for a given period, Net Sales (including deemed Net Sales under
Section 8.6.5 of the Agreement) in the Territory less Program Expenses, where the result is a positive number. 

1.29 “Opt-Out Royalty” has the meaning set forth in Section 11.4. 

1.30 “Other Out-of-Pocket Costs” means: 

(a) Expenses associated with [***] pursuant to the [***]; 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 (b) [***]; 

(c) [***], in each case, that are [***]; and 

(d) Expenses incurred in connection with the [***]. 

1.31 “Patent Costs” means all Expenses reasonably allocated to the Shared Products for the prosecution, maintenance and
enforcement of Patents that Cover the Shared Products. 
 1.32 “Pharmacovigilance Agreement” has the meaning set forth in
Section 8.1. 
 1.33 “Program Expenses” means Development Costs, Commercialization Costs, Medical
Affairs Costs, Patent Costs and Other Out-of-Pocket Costs. 
 1.34 “Project Leader” has the meaning set forth in
Section 3.1. 
 1.35 “Project Team” has the meaning set forth in
Section 3.1. 
 1.36 “Reconciliation Report” has the meaning set forth in
Section 7.4. 
 1.37 “Subcontract” has the meaning set forth in
ARTICLE 9. 
 1.38 “Subcontractor” has the meaning set forth in
ARTICLE 9. 
 1.39 “Summary Statement” has the meaning set forth in
Section 7.3. 
 1.40 “Trademark” means all trademarks, service marks, trade names, brand names,
sub-brand names, trade dress rights, product configuration rights, certification marks, collective marks, logos, taglines, slogans, designs or business symbols and all words, names, symbols, colors, shapes, designations or any combination thereof
that function as an identifier of source or origin or quality, whether or not registered, and all statutory and common law rights therein, and all registrations and applications therefor, together with all goodwill associated with, or symbolized by,
any of the foregoing. 
 ARTICLE 2 

GOVERNANCE 
 2.1
Committees. Within [***] after execution of the Joint Development & Commercialization Agreement, the Parties will establish a joint steering committee (the “JSC”) to provide high-level oversight and decision-making
regarding the activities of the Parties under the Joint Development & Commercialization Agreement. The JSC’s responsibilities will include (a) reviewing and overseeing the overall global Development, Manufacture and Commercialization
of the Shared Products in the Field, (b) overseeing the JDC, JCC and any other committees and working groups established with respect to the Shared Product and resolving matters on which the JDC, JCC or such committees and working groups are unable
to reach consensus and (c) performing such other functions as may be established in the Joint 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 
Development & Commercialization Agreement. The JSC will oversee a joint development committee (the “JDC”) and a joint commercialization committee (the “JCC”)
and such other committees and working groups as the JSC may determine are appropriate from time to time. 
 2.2 Decision-Making. The
JSC, JDC, JCC and all other committees and working groups [***] with the goal being to maximize the chance of successfully developing and commercializing a [***] in a manner consistent with Applicable Laws and the Joint Development &
Commercialization Agreement. Disputes arising out of the JDC, JCC or any other committee or working group will be escalated to the JSC for resolution. Disputes arising at the JSC will be referred to senior executives of each Party for
resolution. whereupon the Parties’ senior executives will meet in person if requested by either such senior executive and attempt in good faith to resolve such dispute by negotiation and consultation for a [***] period following such
referral. If the senior executives do not resolve such dispute within such [***] period, such dispute shall be submitted to [***]. 

ARTICLE 3 
 DEVELOPMENT

 3.1 Global Development Plan. The JDC will oversee the Development of Shared Products by the Parties in the Field in the
Territory. Each Shared Product will be Developed in accordance with a global development plan (the “Global Development Plan”). The Global Development Plan will include a plan for the Development of the Shared Product in the
Territory through Regulatory Approval, including a regulatory strategy, high-level study design criteria, an allocation of responsibilities between the Parties, timelines and a budget for activities conducted under the Global Development Plan (the
“Development Budget”). The JDC will update the Global Development Plan [***] (or more frequently as needed) and submit it to the JSC for approval. The Parties will establish a project team (the “Project Team”) to
oversee and coordinate activities under the Global Development Plan. The Project Team be formed with an experienced team leader (“Project Leader”), and the composition of the Project Team will be determined by the Project Leader
based on available personnel from each Party across functions. The Project Team will conduct its responsibilities under the Global Development Plan in good faith and with reasonable care and diligence. The Project Team will provide the JDC with
periodic updates regarding the progress of activities pursuant to the Global Development Plan. 
 3.2 Development Activities. 

3.2.1 Regulatory Matters. Regulatory activities will be jointly carried out by the Project Team under the guidance of the JDC. All
Regulatory Filings and Regulatory Approvals that relate to Shared Products shall be filed by and held in the name of [***] or its relevant Affiliates. [***] shall use Commercially Reasonable Efforts, in consultation with [***] to seek to obtain and
maintain Regulatory Approval for the Shared Product in the Field. [***] will oversee, monitor and manage all regulatory interactions, communications and filings with, and submissions to, Regulatory Authorities with respect to the Shared Products.
[***], in consultation with [***], will control all regulatory activities with respect to the Shared Products, including determining the labeling strategy and the content of submissions; provided that [***] may review and comment on such
strategies and submissions. Vertex will prepare all regulatory submissions and provide [***] with advance drafts of any material documents or other material 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 
correspondence pertaining to the Shared Products, including any proposed labeling, that [***] plans to submit to any Regulatory Authority. [***] may provide comments regarding such documents and
other correspondence prior to their submission, which comments [***] will consider in good faith. [***] will provide [***] with copies of all material submissions it makes to, and all material correspondence it receives from, a Regulatory Authority
pertaining to a Regulatory Approval of a Shared Product within [***] after receipt. [***] will provide [***] with reasonable advance notice of any meeting or teleconference with any Regulatory Authority with respect to the Shared Products. Subject
to Applicable Law, [***] will have the right to participate as an observer in all material meetings, conferences and discussions by [***] with Regulatory Authorities pertaining to Development of the Shared Products or Regulatory Approval of the
Shared Products. 
 3.2.2 Clinical Trials. The JDC will allocate responsibility between the Parties for the conduct of Clinical
Trials and the various other Development activities addressed in the Global Development Plan. [***] will have final decision-making authority with respect to the protocol for any Clinical Trial conducted under the Global Development Plan and the
statistical analysis plan for any such Clinical Trial. The Party that has responsibility for conducting the Clinical Trial will have the responsibility for the packaging and labeling of clinical drug supplies, unless otherwise agreed by the Parties.

 3.2.3 Independent Activities. The Joint Development & Commercialization Agreement will include a mechanism for each Party to
propose additional Clinical Trials for inclusion in the Global Development Plan. If the other Party does not agree to include such additional Clinical Trial in the Global Development Plan, the requesting Party may conduct such Clinical Trial at its
sole expense (i.e. such expenses will not be included as Development Costs); provided that neither Party may conduct any Clinical Trial that [***]. The non-requesting Party will not have the right to use the data resulting from
such Clinical Trial in a substantive manner as the basis for obtaining new or expanded Regulatory Approval for a Product in the Field or for commercial purposes for a Product in the Field unless and until such Party reimburses the requesting Party
for [***] of the Development Costs.. 
 3.3 Diligence. Each Party will use Commercially Reasonable Efforts to execute and to perform,
or cause to be performed, the activities assigned to it in the Global Development Plan, and to cooperate with the other Party in carrying out the Global Development Plan in accordance with the timelines therein. Each Party and its Affiliates will
conduct its Development activities in good scientific manner and in compliance with Applicable Law. Notwithstanding anything to the contrary contained herein, a Party or its Affiliates will not be obligated to undertake or continue any Development
activities with respect to the Shared Products if such Party (or any of its Affiliates) reasonably determines that performance of such Development activity would violate Applicable Law or infringe or misappropriate a Third Party’s intellectual
property. 
 ARTICLE 4 

MEDICAL AFFAIRS ACTIVITIES 

The Parties, acting through the JSC, will develop and agree upon a global medical affairs plan for the Shared Product that describes the
Medical Affairs Activities to be conducted in the 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 
Territory, key tactics and strategies for implementing those activities, the relative responsibilities of the Parties and the associated budget for such activities (such plan, the
“Medical Affairs Plan” and such budget, the “Medical Affairs Budget”). CRISPR will lead and manage Medical Affairs Activities in the United States and Vertex will lead and manage Medical Affairs Activities
outside of the United States, in each case, in accordance with the Medical Affairs Plan. The number of MSLs to be deployed in each jurisdiction will be determined by the JSC at least [***] prior to potential launch. 

ARTICLE 5 

COMMERCIALIZATION 
 5.1
Commercialization Plan. The JCC will oversee the Commercialization of Shared Products by the Parties in the Field in the Territory. No later than [***] prior to the anticipated launch of the Shared Product in the first country in
the Territory, the JCC will develop and submit to the JSC for approval, a Commercialization plan (the “Commercialization Plan”) that sets forth the Commercialization activities to be undertaken by the Parties with respect to the
Commercialization of the Shared Product in the Territory. The Commercialization Plan may include activities on a region-by-region or country-by-country basis, as determined by the JCC. The JCC will update the Commercialization Plan on [***] (or more
frequently as needed) and submit it to the JSC for approval. The Commercialization Plan will include (a) the Global Branding Strategy, (b) a marketing strategy, (c) a communications strategy that includes plans for public relations, conferences and
exhibitions and other external meetings, internal meetings and communications, publications and symposia, internet activities and core brand package, (d) a high level operating plan for the implementation of such strategies on [***], including
information related to Shared Product positioning, core messages to be communicated and pricing strategies, (e) a detailing strategy, (f) a pricing strategy, (g) all other material activities to be conducted in connection with the Commercialization
of the Shared Product in the Field in the Territory and (h) a budget for activities conducted under the Commercialization Plan (the “Commercialization Budget”). The Commercialization Plan will include a meaningful role for both
Parties. In allocating responsibilities between the Parties, the JCC will take into consideration each Party’s expertise, capabilities, staffing and available resources to take on such activities, as well as the Parties’ intention to
provide CRISPR an opportunity to build and expand its expertise, capabilities, staffing and available resources in connection with performing Commercialization activities allocated to it. CRISPR shall be the Commercializing lead for Shared Products
in the United States and Vertex shall be the Commercializing lead for Shared Products outside of the United States. The Commercializing lead, with respect to the United States or outside of the United States, respectively, shall be referred to
herein as the “Lead Commercialization Party” for such jurisdiction (as applicable, the “Lead Commercialization Party” Unless otherwise specified in the Commercialization Plan, the Parties will jointly be responsible
for conducting all Commercialization activities outside of the United States, such activities to be determined by the JSC. 
 5.2
Commercialization Activities. 
 5.2.1 Training. The Parties will jointly prepare training programs and materials for
employees and sales representatives with respect to the Shared Product, with the goal of ensuring compliance with all Applicable Laws and each Party’s compliance policies. Each Party will be solely responsible for training its employees and
sales representatives in accordance with such training program. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 5.2.2 Global Branding Strategy. The JCC will develop a global branding strategy for
Shared Products in the Territory, including, with respect to each Shared Product, a life cycle plan, brand vision, positioning, key messaging, concept and imagery, Trademarks (including name and logos), brand public relations and supporting market
research (the “Global Branding Strategy”) and submit such strategy to the JSC for approval. 
 5.2.3
Trademarks. The JCC will select a product Trademark for each Shared Product throughout the world consistent with the Global Branding Strategy. Each Shared Product will be promoted and sold in the Territory under the applicable
Trademarks. 
 5.2.4 Marketing. The JCC will agree upon a marketing strategy for the Shared Product, including Shared Product
positioning, messaging, appearance and launch sequencing, consistent with the Global Branding Strategy. Marketing activities and responsibilities for each Party will be determined by the JCC. 

5.2.5 Managed Markets and Market Access. The JCC will agree upon a strategy for the managed markets and market access for the
Shared Product, including, without limitation, payer strategy and account management. Such activities and responsibilities for each Party will be determined by the JCC. 

5.2.6 Pricing. The JCC will establish a global pricing strategy for the Shared Product (including list price, targeted net
pricing, sales-weighted average discounts and rebates, the approach to pricing with different types of accounts and plans, types of discounts and rebates) in the Territory. The responsibility of each Party regarding the implementation of such
global pricing strategy, including negotiating pricing and reimbursement with governments and private payers will be determined by the JCC. 

5.2.7 Field Sales. The Parties will jointly promote the Shared Product (including performing sales calls) in the Territory in
accordance with the Commercialization Plan. CRISPR will lead and manage the promotion of the Shared Product in the United States. Vertex will have the right provide [***] of the FTES with respect to the Shared Product in the United States.
Vertex will lead and manage promotion of the Shared Product outside of the United States and CRISPR will have the right to provide [***] of the FTES with respect to the Shared Product in the Major Market Countries (outside of United States). CRISPR
and Vertex will each ensure that its and its Affiliates’ sales representatives do not make any representation, statement, warranty or guaranty with respect to the Shared Product that is not consistent with the applicable current package insert
of prescribing information or other documentation accompanying or describing a Shared Product, including mutually approved limited warranty and disclaimers, if any. CRISPR and Vertex will each ensure that its and its Affiliates’ sales
representatives do not make any statements, claims or undertakings to any person with whom they discuss or promote the Shared Products that are not consistent with, or provide or use any labeling, literature or other materials other than those
promotional materials currently approved for use by the JCC. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 5.2.8 Distribution and Patient Services. The Parties will jointly be responsible for
distribution and patient services for the Shared Product in the Territory, including contracting with applicable service providers, such activities to be determined by the JCC [***] prior to launch of the Shared Product. 

5.2.9 Booking Sales; Distribution. CRISPR will invoice, sell and book all sales of Shared Products in the United States and be
responsible for warehousing and distributing such Shared Products in the United States. Vertex will invoice, sell and book all sales of Shared Products outside of the United States and be responsible for warehousing and distributing such Shared
Products outside of the United States. 
 5.3 Diligence. Each Party will use Commercially Reasonable Efforts to execute and to
perform, or cause to be performed, the activities assigned to it under the Commercialization Plan. Each Party and its Affiliates will conduct its Commercialization activities in compliance with Applicable Law. Notwithstanding anything to
the contrary contained herein, a Party or its Affiliates will not be obligated to undertake or continue any Commercialization activities with respect to the Shared Products if such Party (or any of its Affiliates) reasonably determines that
performance of such Commercialization activity would violate Applicable Law or infringe or misappropriate a Third Party’s intellectual property. 

ARTICLE 6 
 MANUFACTURING

 6.1 Quality Agreement. The Parties will meet to negotiate in good faith and agree on quality analysis and control
criteria for the Manufacture of the Shared Product within [***] after the effective date of the Joint Development & Commercialization Agreement. The agreed upon criteria will be set forth in a quality agreement containing mutually agreed terms
and conditions that are customary for agreements of this type. 
 6.2 Working Group. The Parties will establish a manufacturing
working group (the “Manufacturing Working Group”) to oversee matters relating to the Manufacture of the Shared Product. The Manufacturing Working Group will report to the JDC for Development-related Manufacturing matters and will
report to the JCC for Commercialization-related Manufacturing matters. The Manufacturing Working Group’s responsibilities will include: (a) developing plans to transfer Manufacturing-related Know-How between the Parties as needed to facilitate
the Manufacture of the Shared Product; (b) establishing standards applicable to each Party’s Manufacturing activities and reviewing each Party’s performance against such standards; conducting technical reviews, and (c) sharing planning and
budgeting information with the JDC and JCC. 
 6.3 Responsibility. The Parties will share responsibility for Manufacturing
clinical supplies of Shared Product as determined by the Manufacturing Working Group. Unless otherwise agreed by the Parties, Vertex will be responsible for Manufacturing commercial supplies of Shared Product. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 ARTICLE 7 

ALLOCATION OF NET PROFIT AND NET LOSS 

7.1 Allocation. Each Party will be entitled to 50% of the Net Profits or will bear 50% of the Net Loss, as applicable, during the
term of the Joint Development & Commercialization Agreement. If either Party elects to Opt-Out (as defined below), the other Party shall pay royalties in accordance with Section 11.4. 

7.2 Calculation. Net Profit or Net Loss will be calculated for each Calendar Quarter by determining the [***] and subtracting
[***]. 
 7.3 Payment of Expenses; Summary Statements. Subject to reconciliation as provided in
Section 7.4, the Party initially incurring Program Expenses will be responsible for and pay for all such Program Expenses so incurred. Each Party will maintain the books and records referred to in
Section 7.6 and will accrue all Program Expenses and Net Sales) in accordance with the terms and conditions hereof and in accordance with GAAP. Within [***] after the end of each [***], each Party will submit to the
other a non-binding, good faith estimate of the Program Expenses accrued and Net Sales during the just-ended [***]. Within [***] after the end of each [***], each Party will submit to the other a written report reflecting the accrual of Program
Expenses and Net Sales during the just-ended [***], except that each Party’s submission for the last month of such [***] will be a good faith estimate and not actual amounts (each, a “Summary Statement”). Each Summary
Statement (after the initial Summary Statement) will reflect an adjustment for the actual amount of the previous [***] as needed. Any reporting and reconciliation of variances between estimated and actual costs and expenses may be delayed by a
[***] as reasonably necessary in light of a Party’s internal reporting procedures. The Parties’ respective Summary Statements will serve as the basis of the Reconciliation Reports prepared by the Parties pursuant to
Section 7.4. Upon the request of either Party from time to time, the Parties’ respective finance departments, coordinated by the JDC, or JCC, as appropriate, will discuss any questions or issues arising from the
Summary Statements, including the basis for the accrual of specific Program Expenses. 
 7.4 Reconciliation. Vertex will prepare
a reconciliation report, as soon as practicable after the receipt of CRISPR’s Summary Statement, but in any event within [***] after the end of each [***], accompanied by reasonable supporting documents and calculations sufficient to support
each Party’s financial reporting obligations, independent auditor requirements and obligations under the Sarbanes-Oxley Act, which reconciles the amounts accrued and reported in each Party’s Summary Statement during such [***] and the
share of the Net Profits and Net Losses to be allocated to each of the Parties for such [***] in accordance with Section 7.1 (such report, the “Reconciliation Report”). Payment to reconcile Net Profit
or Net Loss shall be made by the owing Party to the other Party within [***] after such Reconciliation Report is complete. 
 7.5 Cost
Overruns. If a Party’s aggregate Development Costs, Medical Affairs Costs or Commercialization Costs in any Calendar Year are likely to exceed or exceed those set forth in the Development Budget, Medical Affairs Budget or
Commercialization Budget, as applicable, for all of its activities under the Development Plan, Medical Affairs Plan or Commercialization Plan, as applicable, in such Calendar Year by up to [***] of the aggregate 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 
amount set forth in the Development Budget, Medical Affairs Budget or Commercialization Budget, as applicable, such Party will provide the other Party with an explanation for such excess costs
and expenses, and such excess costs and expenses will be included in the Development Costs, Medical Affairs Cost or Commercialization Costs, as applicable, and shared by the Parties as provided herein. To the extent a Party’s aggregate
Development Costs, Medical Affairs Costs or Commercialization Costs, as applicable, exceed those set forth in the Development Budget, Medical Affairs Budget or Commercialization Budget, as applicable, by more than [***], unless otherwise agreed by
the Parties, such Expenses will not be shared by the Parties and the Party incurring such Expenses will be solely responsible for such Expenses. 

7.6 Books and Records. Each Party will keep and maintain accurate and complete records regarding Program Expenses and Net Sales, during
the [***] preceding Calendar Years. Upon [***] prior written notice from the other Party (the “Auditing Party”), the Party required to maintain such records (as applicable, the “Audited Party”) will permit an
independent certified public accounting firm of internationally recognized standing, selected by the Auditing Party and reasonably acceptable to the Audited Party, to examine the relevant books and records of the Audited Party and its Affiliates, as
may be reasonably necessary to verify the Summary Statements and Reconciliation Reports. An examination by the Auditing Party under this Section 7.6 will occur not more than [***] in any Calendar Year and will be limited to
the pertinent books and records for any Calendar Year ending not more than [***] before the date of the request. The accounting firm will be provided access to such books and records at the Audited Party’s facility or facilities where such
books and records are normally kept and such examination will be conducted during the Audited Party’s normal business hours. The Audited Party may require the accounting firm to sign a customary non-disclosure agreement before providing the
accounting firm access to its facilities or records. Upon completion of the audit, the accounting firm will provide both the Auditing Party and the Audited Party a written report disclosing whether the applicable Summary Statements and
Reconciliation Reports are correct or incorrect and the specific details concerning any discrepancies. No other information will be provided to the Auditing Party. If the report or information submitted by the Audited Party results in an
underpayment or overpayment, the Party owing underpaid or overpaid amount will promptly pay such amount to the other Party, and, if, as a result of such inaccurate report or information, such amount is more than [***] of the amount that was owed the
Audited Party will reimburse the Auditing Party for the reasonable expense incurred by the Auditing Party in connection with the audit. 

ARTICLE 8 
 ADVERSE
EVENTS 
 8.1 Pharmacovigilance Agreement. The Parties will meet to negotiate in good faith and agree on processes and
procedures for sharing safety information within [***] after the effective date of the Joint Development & Commercialization Agreement. The agreed upon processes and procedures will be set forth in a pharmacovigilance agreement (the
“Pharmacovigilance Agreement”) containing mutually agreed terms and conditions that are customary for agreements of this type. The Pharmacovigilance Agreement will include provisions establishing a joint safety oversight
working group to oversee the conduct of the Parties’ activities under the Pharmacovigilance Agreement and to coordinate the Parties’ interactions with respect to pharmacovigilance activities. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 8.2 Global Safety Database. The JCC will establish pharmacovigilance and safety
strategy for the Shared Product. Pursuant to such strategy, Vertex will establish the global safety database for such Shared Product. Vertex will maintain a global database of safety information including, but not limited to, adverse
events and pregnancy reports for such Shared Product, which will be used for regulatory reporting and responses to safety queries from Regulatory Authorities by both Parties. CRISPR will, and will cause its Affiliates to, transfer all adverse
events information in its or their possession or control to the global safety database within a mutually agreed period of time that provides Vertex with sufficient time to enter all of the data and to obtain validation of the database. 

8.3 Risk Management and Signal Detection Activities. Vertex shall be primarily responsible for all signal detection and risk
management activities for Shared Products. These signal detection activities shall include, but are not limited to, proactive review and evaluation of all safety information from the Global Safety Database (including by way of example,
Individual Case Safety Reports, aggregate safety information, literature reports, and non-clinical data). 
 ARTICLE 9 

SUBCONTRACTING 
 Each Party
may subcontract the performance of any activities undertaken by such Party in accordance with the Global Development Plan, Medical Affairs Plan or Commercialization Plan to one or more Third Parties (each such Third Party, a
“Subcontractor”) pursuant to a written agreement (a “Subcontract”). Notwithstanding the foregoing, if either Party desires to subcontract any such activities, it will first discuss the matter with the other
Party and reasonably consider using the other Party for such subcontracted activities, taking into account the capabilities of the other Party and potential impact on costs, as a potential alternative to subcontracting such activities to a Third
Party. If, following such discussion a Party still desires to subcontract the performance of any such activity to one or more Third Parties, it may proceed to do so; provided, that prior to entering into any Subcontract which the
subcontracting Party reasonably anticipates will entail payments to the Subcontractor in excess of [***] with respect to subcontracted activities under the Joint Development & Commercialization Agreement, the subcontracting Party will obtain the
JSC’s approval, not to be unreasonably withheld, of use of the proposed Subcontractor to conduct the activities proposed to be subcontracted prior to execution of the applicable Subcontract. 

ARTICLE 10 
 LICENSES; IP

 10.1 License Grants. Vertex will grant CRISPR a co-exclusive (with Vertex) license under Vertex’s and its
Affiliates’ interest in the Licensed Vertex Know-How and Licensed Vertex Patents, with the right to Sublicense through multiple tiers (subject to Section 10.2), to Research, Develop, Manufacture, have Manufactured,
use, keep, sell, offer for sale, import, export and Commercialize Shared Products in the Field in the Territory. Additionally, the license rights granted by CRISPR to Vertex under Section 5.3.1 of the Agreement will be
modified to be co-exclusive (with CRISPR) for Shared Products in the Territory. 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 10.2 Sublicensing. Subject to the rights granted or retained by the Parties under the
Joint Development & Collaboration Agreement, either Party may Sublicense (through multiple tiers) to its Affiliates or Third Parties any and all rights granted to it by the other Party or retained by such Party with respect to the Research,
Development, Manufacture and Commercialization of the Shared Products; provided, that neither Party may grant any such Sublicense in a Major Market Country without the prior written consent of the other Party; and provided,
further, that if either Party intends to Sublicense any such rights in any country, it will discuss the matter with the Other Party and in good faith consider using the Other Party to conduct any sublicensed activities. If a Party grants
any such Sublicense it will remain responsible for its obligations under the Joint Development & Commercialization Agreement and will be responsible for the performance of the relevant sublicensee. 

10.3 [***]. If a Party believes, in its reasonable judgment, that it may be necessary to obtain rights under any [***] in order to
Research, Develop, Manufacture or Commercialize a Shared Product in the Field, such Party will promptly notify the other Party and the Parties will discuss such matter in good faith. Unless otherwise agreed, [***] will have the first right to
enter into a license with the relevant Third Party to acquire rights to the [***]. If the Parties are unable to agree on whether any Know-How or Patents are [***], the Party that believes such rights are necessary may enter into a license with
the relevant Third Party; provided, that [***] unless and until the other Party agrees, or as determined by arbitration or other dispute resolution mechanisms to [***]. 

10.4 Trademarks. The Lead Commercialization Party will own and retain all rights to Trademarks for Shared Products in their
respective jurisdiction, and all goodwill associated with or attached thereto arising out of the use thereof by the Parties, their Affiliates and Sublicensees will inure to the benefit of such Lead Commercialization Party. Each non-Lead
Commercialization Party, on behalf of itself and its Affiliates, will assign to the Lead Commercialization Party or its relevant Affiliate all right, title and interest in and to such Shared Product Trademarks and goodwill in the relevant
jurisdiction. The non-Lead Commercialization Party will not contest, oppose or challenge the Lead Commercialization Party’s ownership of such Shared Product Trademarks in the relevant jurisdiction. The Lead Commercialization Party will own
rights to any Internet domain names incorporating any Trademark for the Shared Product, or any variation or part of any such Trademark, as its URL address or any part of such address in the applicable jurisdiction. The Lead Commercialization Party
will use Commercially Reasonable Efforts to register, maintain and enforce the Trademarks for the Shared Product in the relevant jurisdiction. 

ARTICLE 11 
 TERM;
TERMINATION 
 11.1 Term. The term of the Joint Development & Commercialization Agreement will commence on the execution
of the Joint Development & Commercialization Agreement and continue in full force and effect until there is no longer a Global Development Plan or Commercialization Plan contemplating Development or Commercialization of a Shared Product in the
Territory, unless earlier terminated as provided below. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 11.2 Termination Generally. The provisions of
Sections 11.2.1, 11.2.3, 11.2.4 and 11.2.5 of the Agreement will apply to the Joint Development & Commercialization Agreement, mutatis mutandis. 

11.3 Alternative Remedies. The alternative remedy provisions of Section 11.3 of the Agreement will not
apply to Hemoglobinopathy Targets or [***] or to the Joint Development & Commercialization Agreement. 
 11.4 Opt-Out. After
[***] for a Shared Product directed to a particular Collaboration Target, either Party may opt out of the Joint Development & Commercialization Agreement for all Shared Products directed to such Collaboration Target upon [***] notice to the
other Party (“Opt-Out”). The other Party shall pay such opting out Party royalties (“Opt-Out Royalties”) in accordance with this Section 11.4 and the terms of
Sections 7.5.2, 7.5.3, 7.5.4 and 7.5.5 of the Strategic Collaboration Option and License Agreement shall apply to such royalties, mutatis mutandis. The applicable royalty rates shall
be determined in accordance with the table set forth below based on the timing of the Opt-out Notice. Upon the other Party’s receipt of such notice, all rights and obligations under the Joint Development & Commercialization Agreement
with respect to Shared Products directed to such Collaboration Target shall terminate. If the opting out Party is CRISPR, such Shared Product(s) shall be deemed Product(s) directed to a Collaboration Target other than a Hemoglobinopathy Target
[***] under the Strategic Collaboration, Option and License Agreement, and the terms and conditions of such agreement shall apply with respect to all Products directed to the opted out Collaboration Target; provided, that in lieu of the royalty
rates payable under Section 7.5.1 of such agreement Vertex shall pay royalties at the rates set forth in this Section 11.4. If the opting out Party is Vertex, the Parties shall negotiate in
good faith a termination agreement for all Products directed to such opted out Collaboration Target, including, without limitation, reasonable diligence obligations and obligations of CRISPR for sharing of information regarding such Products with
Vertex, which obligations will be substantially similar to the obligations imposed by Vertex under the Joint Development & Commercialization Agreement. For the avoidance of doubt, the allocation of Net Profits and Net Loss pursuant to
Section 7.1 shall terminate upon the Opt-Out. 
  

									
	 Timing of Opt Out
	  	Net Sales (in Dollars)
for such Shared
Products in the
Territory	 	  	Opt-Out Royalty
Rates as a
Percentage (%) of
Net Sales of such
Shared
Products	 
	 [***]
	  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  
	 [***]
	  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  
		  	 	[***]	  	  	 	[***]	  

  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 ARTICLE 12 

INDEMNITY 
 The Joint
Development & Commercialization Agreement will include commercially reasonable indemnity provisions, which will include (but not be limited to) an obligation for each Party to indemnify the other Party from, against and in respect of any and all
Liability incurred or suffered by the other Party to the extent resulting from: (a) any breach of, or inaccuracy in, any representation or warranty made by the indemnifying Party, or any breach or violation by the indemnifying Party of any
covenant or agreement in the Joint Development & Commercialization Agreement; or (b) the negligence or intentional misconduct of, or violation of Applicable Law (including off-label promotion) by, the indemnifying Party, any of its Affiliates or
Sublicensees, or any of their respective directors, officers, employees and agents, in performing its obligations or exercising its rights under the Joint Development & Commercialization Agreement. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE G 

 Schedule H 

CRISPR In-License Agreements 
  

	•	 	License Agreement of April 15, 2014 by and between Emmanuelle Marie Charpentier and Crispr Therapeutics AG 

  

	•	 	License Agreement of April 15, 2014 by and between Emmanuelle Marie Charpentier and Tracr Hematology Ltd 

  

	•	 	License Agreement of November 23, 2014 by and between Childrens Medical Center Corporation and Tracr Hematology Ltd 

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE H 

 Schedule I 

Baseball Arbitration Procedures 

Selection of Baseball Expert and Submission of Positions. The Parties will select and agree upon a mutually acceptable independent Third Party
expert who is neutral, disinterested and impartial, and has the experience specified in Schedule G for the applicable dispute (the “Baseball Expert”). If the Parties are unable to mutually agree upon a Baseball Expert
within [***] following the delivery of the request for Baseball Arbitration, then upon request by either Party, the Baseball Expert will be an arbitrator appointed by Judicial and Mediation Services (“JAMS”), which arbitrator need
not have the above-described experience. Once the Baseball Expert has been selected, each Party will within [***] following selection of the Baseball Expert provide the Baseball Expert and the other Party with a written report setting forth its
position with respect to the substance of the dispute and may submit a revised or updated report and position to the Baseball Expert within [***] of receiving the other Party’s report. If so requested by the Baseball Expert, each Party
will make oral submissions to the Baseball Expert based on such Party’s written report, and each Party will have the right to be present during any such oral submissions. 

JAMS Supervision. In the event the Baseball Expert is a JAMS arbitrator selected by JAMS as provided in this Schedule I, the matter will be
conducted as a binding arbitration in accordance with JAMS procedures, as modified by this Schedule I (including that the arbitrator will adopt as his or her decision the position of one Party or the other, as described below). In such
event, the arbitrator may retain a Third Party expert with the same experience specified in Schedule F for the Baseball Expert to assist in rendering such decision, and the expenses of any such expert will be shared by the Parties as costs of
the arbitration as provided in this Schedule I. 
 Determination by the Baseball Expert. The Baseball Expert will, no later than [***] after the
last submission of the written reports and, if any, oral submissions, select one of the Party’s positions as his or her final decision, and will not have the authority to modify either Party’s position or render any substantive decision
other than to so select the position of either Party as set forth in their respective written report (as initially submitted, or as revised in accordance with this Schedule I, as applicable). The decision of the Baseball Expert will be the
sole, exclusive and binding remedy between them regarding the dispute submitted to such Baseball Expert. 
 Location; Costs. Unless otherwise
mutually agreed upon by the Parties, the in-person portion (if any) of such proceedings will be conducted in Boston, Massachusetts. [***]. 

Timetable for Completion in [***]. The Parties will use, and will direct the Baseball Expert to use, commercially reasonable efforts to resolve a
dispute within [***] after the selection of the Baseball Expert, or if resolution within [***] is not reasonably achievable, as determined by the Baseball Expert, then as soon thereafter as is reasonably practicable. 

 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE I 

 Schedule J 

Identified Third Party IP 
  

					
	 U.S. Patent No.
	  	 U.S. Patent Application No.
	  	 Filing Data

	U.S. 8,697,359	  	14/054,414	  	Oct. 15, 2013
	U.S 8,771,945	  	14/183,429	  	Feb. 18, 2014
	U.S. 8,795,965	  	14/183,486	  	Feb. 18, 2014
	U.S. 8,865,406	  	14/222,930	  	Mar. 24, 2014
	U.S. 8,906,616	  	14/290,575	  	May 29, 2014
	U.S. 8,895,308	  	14/293,498	  	Jun. 02, 2014
	U.S. 8,945,839	  	14/256,912	  	Apr. 18, 2014
	U.S. 8,889,356	  	14/183,471	  	Feb. 18, 2014
	U.S. 8,932,814	  	14/258,458	  	Apr. 22, 2014
	U.S. 8,871,445	  	14/259,420	  	Apr. 23, 2014

  
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE J 

 Schedule K 

Patent Costs 
  

					
	 	  	 Prior to Option Exercise
	  	 After Option Exercise

	CRISPR Platform Technology Patents	  	[***]	  	[***]
	CRISPR Background Patents	  	[***]	  	[***]
	CRISPR Program Patent	  	[***]	  	[***]
	[***] Patents	  	[***]	  	[***]
	[***] Patents	  	[***]	  	[***]
	[***] Joint Program Patents	  	[***]	  	[***]
	Other Joint Program Patent	  	[***]	  	[***]
	[***] Joint Program Patents	  	[***]	  	[***]

  

	*	Either Party may decline to pay its share of costs for Prosecuting and Maintaining any Other Joint Program Patents in a particular country or particular countries, in which case, the declining Party will, and will cause
its Affiliates to, assign to the other Party (or, if such assignment is not possible, grant a fully-paid exclusive license in) all of their rights, titles and interests in and to such Other Joint Program Patents. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE K 

 Schedule L 

CRISPR Disclosures 
 9.2.2 

See 9.2.9 regarding [***] (as defined in 9.2.9). 

9.2.5. 
 See 9.2.9 regarding [***]. 

9.2.6. 
 See 9.2.9 regarding [***]. 

9.2.8. 
 See 9.2.9 regarding [***]; for
the cases listed in Section A, CRISPR is a licensee. 
 9.2.9. 

CRISPR Platform Technology Patents 

A. CRISPR Platform Technology Patents Licensed from Emmanuelle Charpentier 

Foundational patent applications related to Crispr-Cas9 gene editing technologies licensed to CRISPR by Emmanuelle Charpentier: 

 

					
	 Serial #
	  	 Filing Date
	  	 Country/Jurisdiction

	61/652,086	  	25 May 2012	  	United States
	61/716,256	  	19 Oct 2012	  	United States
	61/757,640	  	28 Jan 2013	  	United States
	61/765,576	  	15 Feb 2013	  	United States
	13/842,859	  	15 Mar 2013	  	United States
	14/403,475	  	14 Nov 2014	  	United States

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

					
	14/685,502	  	13 Apr 2015	  	United States
	14/685,504	  	13 Apr 2015	  	United States
	14/685,513	  	13 Apr 2015	  	United States
	14/685,514	  	13 Apr 2015	  	United States
	14/685,516	  	13 Apr 2015	  	United States
			
	PCT/US2013/032589	  	15 Mar 2013	  	(International)
	140780	  	15 Mar 2013	  	Algeria
	2013266968	  	15 Mar 2013	  	Australia
	BR1120140299441-0	  	15 Mar 2013	  	Brazil
	2872241	  	15 Mar 2013	  	Canada
	2014-03208	  	15 Mar 2013	  	Chile
	2013800389206	  	15 Mar 2013	  	China
	14-259531	  	15 Mar 2013	  	Colombia
	014-0538	  	15 Mar 2013	  	Costa Rica
	IEPI-2014-28704	  	15 Mar 2013	  	Ecuador
	PCT1887/2014	  	15 Mar 2013	  	Egypt
	201401319	  	15 Mar 2013	  	Eurasia
	13793997.1	  	15 Mar 2013	  	European Pat. Office
	13674/01-14	  	15 Mar 2013	  	Georgia
	1420270.9	  	15 Mar 2013	  	Great Britain / UK
	2995/KOLNP/2014	  	15 Mar 2013	  	India
	P00201407783	  	15 Mar 2013	  	Indonesia
	235461	  	15 Mar 2013	  	Israel
	2015514015	  	15 Mar 2013	  	Japan

  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

					
	KE/P/2014/002178	  	15 Mar 2013	  	Kenya
	10-2014-7036096	  	15 Mar 2013	  	Korea, South
	4959/2014	  	15 Mar 2013	  	Libya
	37663	  	15 Mar 2013	  	Morocco
	MX/a/2014/014477	  	15 Mar 2013	  	Mexico
	PI 2014003102	  	15 Mar 2013	  	Malaysia
	701326	  	15 Mar 2013	  	New Zealand
	OM/P/2014/00268	  	15 Mar 2013	  	Oman
	90441-01	  	15 Mar 2013	  	Panama
	002211-2014/DIN	  	15 Mar 2013	  	Peru
	1-2014-502574	  	15 Mar 2013	  	Philippines
	QA/201411/00400	  	15 Mar 2013	  	Qatar
	11201407702X	  	15 Mar 2013	  	Singapore
	2014/07881	  	15 Mar 2013	  	South Africa
	2014120156	  	15 Mar 2013	  	Syria
	1401007063	  	15 Mar 2013	  	Thailand
	2014/0493	  	15 Mar 2013	  	Tunisia
	a201413835	  	15 Mar 2013	  	Ukraine
	P1296/14	  	15 Mar 2013	  	United Arab Emirates
	IAP20140559	  	15 Mar 2013	  	Uzbekistan
	1-2014-04335	  	15 Mar 2013	  	Vietnam

 The named applicant co-owners of the foregoing patent applications are Dr. Emmanuelle Charpentier, the
Regents of the University of California and the University of Vienna. 
 Emmanuelle Charpentier has licensed her rights in the
inventions to CRISPR AG and TRACR Hematology Ltd. for the commercialisation of therapeutic products; and has retained the non-transferable right, without the right to license or sublicense, to use the inventions for her own research purposes and in
research collaborations. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 [***]. 

[***]. 
 B. CRISPR Platform
Technology Patents Owned by the Company 
 The following cases represent additional CRISPR Platform Technology Patents related to
various improvements and uses of Crispr-Cas9 gene editing, and are owned by CRISPR. 
  

					
	61/905,835	  	18 Nov 2013	  	United States
	PCT/EP2014/074813	  	17 Nov 2014	  	International
	62/119,754	  	23 Feb 2015	  	United States
	62/119,774	  	23 Feb 2015	  	United States

 CRISPR Background Technology Patents 

The Patents listed on the attached Appendix 1 of Schedule I are CRISPR Background Technology Patents related to [***]. 

9.2.12 
 The Charpentier-licensed IP identified in
9.2.9. has been the subject of Third Party observations filed in the following patent offices: European Patent Office, the UK Intellectual Property Office, the US Patent and Trademark Office and the World Intellectual Property Office (“Third
Party Observations”). 
 The Broad Institute is the applicant or owner of a series of competing cases claiming Crispr-Cas9 gene editing (which
cases generally claim priority to one or more provisional applications identifying at least Feng Zhang as an inventor, including without limitation U.S. provisional patent application 61/736,527, dated December 12, 2012, as well as foreign
counterparts thereof). The Broad Institute has filed Information Disclosure Statements in its various U.S. cases attacking the foundational IP, and it and/or related entities are considered to be among the parties filing third party observations.

 The Charpentier-UC applicants have filed a Suggestion of Interference Pursuant to 37 C.F.R. § 41.202 with the U.S. Patent & Trademark
Office in connection with numerous U.S. patents issued to the Broad Institute (the “Potential Interference”). The Suggestion of Interference was filed in U.S. Serial No. 13/842,859 on April 13, 2015. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 The patent applications listed below and counterparts thereof generally include claims to Crispr-Cas9 gene
editing with priority applications filed in 2012, and there have since been numerous additional patent applications claiming variations of Crispr-Cas gene editing and various uses of Crispr-Cas gene editing for the development of potential products
filed after 2012 that are readily identifiable by searching patent databases for Crispr-Cas gene editing, which Third Party applicants, applications or patents (individually and collectively “Third Party IP”) could become involved in
challenges related to the Licensed Technology and/or to products to be developed pursuant to such technology (together with the Third Party Observations and the Potential Interference referred to in the preceding paragraphs being individually and
collectively the “Third Party Matters”): 
  

	•	 	Vilnius PCT/LT2013/000006filed 15 Mar 2013 (WO 2013/141680) and 

 PCT/US2013/033106filed 20 Mar 2013

 (WO 2013/142578) 
 First priority filing 20 Mar
2012 
  

	•	 	Toolgen PCT/KR2013/009488 filed 23 Oct 2013 (WO/2014/065596) 

 First priority filing 23 Oct 2012

  

	•	 	Sigma PCT/US2013/073307filed 05 Dec 2013 (WO/2014/089290) 

 First priority filing 6 Dec 2012 

 

	•	 	Broad PCT/US2013/074743 (WO/2014/093661) and other PCT applications 

 First priority filing 12 Dec
2012 
  

	•	 	Harvard PCT/US2013/075317 (WO/2014/099744) and other PCT applications 

 First priority filing 17 Dec
2012 
 9.2.14. 
 See 9.2.9, in
connection with which it is noted that CRISPR is not an owner of the Platform Technology Patents listed in Part A, nor of the Background Patents listed. 

9.2.15 
 See 9.2.9, in connection with
which it is noted that Charpentier is a co-owner of numerous patent applications as noted, and other co-owners and their licensees and certain governmental and non-profit entities also have rights in such cases. 

9.2.16 
 See 9.2.9, in connection with
which it is noted that Charpentier is a co-owner (and co-developer) of know-how related to the technologies described in the patent applications as noted, and therefore other co-owners and their licensees and certain non-profit entities have also
had access to such know-how, as well as patent applications. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 9.2.17 

See 9.2.9, in connection with which it is noted that Charpentier is a co-owner of numerous patent applications as noted with the University
of California, which has indicated that the invention was made with government support under Grant No. GM081879 awarded by the National Institutes of Health, and that the U.S. government has certain rights in the invention; [***]. 

9.2.18 
 See 9.2.12 regarding Third
Party IP (as defined in 9.1.12). 
 9.2.19 

See 9.2.12 regarding Third Party Matters (as defined in 9.1.12) 

9.2.20 
 See 9.2.12 regarding Third
Party Matters. 
  
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 Appendix 1 

Patent Rights 
 [***] 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 Schedule M 

Press Release 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE L 

 Vertex and CRISPR Therapeutics Establish Collaboration to Use CRISPR-Cas9 Gene Editing
Technology to Discover and Develop New Treatments for Genetic Diseases 
 -Gene editing technology to be used to discover treatments
to address the mutations and genes known to cause and contribute to cystic fibrosis- 
 -Vertex and CRISPR to utilize gene editing
approach to discover treatments for genetic diseases, including sickle cell disease- 
 -Companies establish four-year research
collaboration; CRISPR to receive $105 million up- front payment, of which $30 million is an equity investment, with potential for additional milestones and royalty payments- 

BOSTON AND CAMBRIDGE, MASS - October XX, 2015 - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and CRISPR Therapeutics today
announced that the two companies have entered into a strategic research collaboration focused on the use of CRISPR’s gene editing technology, known as CRISPR-Cas9, to discover and develop potential new treatments aimed at the underlying genetic
causes of human disease. The collaboration will evaluate the use of CRISPR-Cas9 across multiple diseases where targets have been validated through human genetics. Vertex and CRISPR will focus their initial gene editing research on
discovering treatments to address the mutations and genes known to cause and contribute to cystic fibrosis and sickle cell disease. Vertex and CRISPR will also evaluate a specified number of other genetic targets as part of the
collaboration. Vertex will have exclusive rights to license up to six new CRISPR-Cas9-based treatments that emerge from the collaboration. As part of the collaboration, Vertex made an up-front commitment of $105 million to CRISPR,
including $75 million in cash and a $30 million equity investment. CRISPR is also eligible to receive future development, regulatory and sales milestones and royalty payments on future sales. 

“CRISPR-Cas9 is an important scientific and technological breakthrough that holds significant promise for the future discovery of potentially
transformative treatments for many genetic diseases,” said David Altshuler, M.D., Ph.D., Vertex’s Executive Vice President, Global Research and Chief Scientific Officer. “As a company founded on innovative science, we’re
excited to begin this collaboration with CRISPR, as it puts us at the forefront of what we believe may be a fundamental change in the future treatment of disease — using gene editing technologies to address the underlying genetic causes of many
diseases.” 
 “Vertex has a track record of developing innovative medicines for cystic fibrosis and other serious diseases, making them a great
partner to accelerate the therapeutic promise of gene editing,” said Rodger Novak, M.D., Chief Executive Officer of CRISPR Therapeutics. “For CRISPR, this collaboration validates the potential for gene editing in human therapeutics
and provides important financial support for continued investment in our platform and proprietary pipeline of programs.” 
 About the Collaboration

 Under the terms of the collaboration, Vertex and CRISPR will jointly use the CRISPR-Cas9 technology to discover and develop potential new treatments
that correct defects in specific gene targets known to cause or contribute to particular diseases. The initial focus of the collaboration 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE M 

 
will be on the use of CRISPR-Cas9 to potentially correct the mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene known to result in the defective protein that causes
CF and to edit other genes that contribute to the disease. Additionally, the companies will seek to discover and develop gene-based treatments for hemoglobinopathies, including sickle cell disease. Additional discovery efforts focused on a
specified number of other genetic targets will also be conducted under the collaboration. Discovery activities will be conducted primarily by CRISPR, and the related expenses will be fully funded by Vertex. Vertex has the option to an
exclusive license for up to six gene-based treatments that emerge from the four-year research collaboration. Vertex will fund 100 percent of the development expenses of licensed treatments. For each of the up to six treatments in-licensed
for development, Vertex will pay future development, regulatory and sales milestones of up to $420 million as well as royalty payments on future sales. 

Vertex and CRISPR will collaborate on the research, development and commercialization of treatments for hemoglobinopathies that emerge from the
collaboration. Specifically for hemoglobinopathies, including treatments for sickle cell disease, Vertex and CRISPR will equally share all research and development costs and sales, with CRISPR Therapeutics leading commercialization efforts in
the U.S. For all other diseases, Vertex will lead all development and global commercialization activities. 
 Vertex will pay CRISPR $75 million in cash as
part of its up-front commitment. Vertex will also provide a $30 million investment in CRISPR, which is a private company. The investment will provide Vertex with an ownership stake in CRISPR. The collaboration also provides Vertex
with an observer seat on the CRISPR Board of Directors, which will be filled by Dr. Altshuler. 
 About Gene Editing with CRISPR-Cas9 

“CRISPR” refers to Clustered Regularly Interspaced Short Palindromic Repeats that occur in the genome of certain bacteria, from which the
system was discovered. Cas9 is a CRISPR- associated endonuclease (an enzyme) known to act as the “molecular scissors” that cut and edit, or correct, disease-associated DNA in a cell. A guide RNA directs the Cas9 molecular
scissors to the exact site of the disease-associated mutation. Once the molecular scissors make a cut in the DNA, additional cellular mechanisms and exogenously added DNA will use the cell’s own machinery and other elements to specifically
‘repair’ the DNA. This technology may offer the ability to directly modify or correct the underlying disease-associated changes in the human genome for the potential treatment of a large number of both rare and common diseases. 

Emmanuelle Charpentier, Ph.D., one of CRISPR Therapeutics’ scientific founders, co-invented the CRISPR-Cas9 technology and is the recipient of
multiple prestigious awards in recognition of the potential contribution that the CRISPR-Cas9 technology may have on global health. The other scientific co-founders of CRISPR are Craig Mello, Ph.D., Chad Cowan, Ph.D., Matthew Porteus, M.D.,
Ph.D., and Daniel Anderson, Ph.D. 
 About Vertex 

Vertex is a global biotechnology company that aims to discover, develop and commercialize innovative medicines so people with serious diseases can lead better
lives. In addition to our clinical development programs focused on cystic fibrosis, Vertex has more than a dozen ongoing research programs aimed at other serious and life-threatening diseases. 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE M 

 Founded in 1989 in Cambridge, Mass., Vertex today has research and development sites and commercial offices in
the United States, Europe, Canada and Australia. For five years in a row, Science magazine has named Vertex one of its Top Employers in the life sciences. For additional information and the latest updates from the company, please
visit www.vrtx.com. 
 About CRISPR Therapeutics 
 The
mission of CRISPR Therapeutics is to develop transformative gene-based medicines for patients with serious diseases. Our therapeutic approach aims to cure diseases at the molecular level using the breakthrough gene editing technology called
CRISPR-Cas9. With our multi- disciplinary team of world-renowned academics, drug developers and clinicians, we are uniquely positioned to translate CRISPR-Cas9 technology into human therapeutics. We have licensed the foundational
CRISPR-Cas9 patent estate for human therapeutic use from our scientific founder, Dr. Emmanuelle Charpentier. We are headquartered in Basel, Switzerland, our R&D operations are in Cambridge, Massachusetts and we have corporate offices
in London, United Kingdom. www.crisprtx.com 
 Special Note Regarding Forward-looking Statements 

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation,
Dr. Altshuler’s statements in the second paragraph of the press release, Dr. Novak’s statements in the third paragraph of the press release and the information provided regarding the future development of treatments for genetic
diseases using the CRISPR-Cas9 technology. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company’s beliefs only as of the date of this
press release and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements. Those risks and uncertainties include, among other things, that data may not
support further development of the gene-based treatments subject to the collaboration due to safety, efficacy or other reasons, and other risks listed under Risk Factors in Vertex’s annual report and quarterly reports filed with the Securities
and Exchange Commission and available through the company’s website at www.vrtx.com. Vertex disclaims any obligation to update the information contained in this press release as new information becomes available. 

(VRTX-GEN) 
 Vertex Pharmaceuticals Incorporated

 Investors: 
 Michael Partridge, 617-341-6108 or

 Kelly Lewis, 617-961-7530 or 
 Eric Rojas, 617-961-7205 

or 
 Media: mediainfo@vrtx.com 

Zach Barber: 617-341-6992 
  

[***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE M 

 CRISPR MEDIA CONTACTS: 

MacDougall Biomedical Communications 
 Kari Watson in US -
kwatson@macbiocom.com +1 (781) 235-3060 
 Anca Alexandra in Europe - aalexandru@macbiocom.com +49 (89) 2424-3494 

 
 [***] = 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 406 of the Securities Act of 1933, as amended. 

  
 SCHEDULE M

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}]]