Document:

Letter by and between the registrant and Millennium Pharmaceuticals, Inc

 Exhibit 10.10 
 [*] = 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. 
  
 

 
 December 6, 2005 
 [*] 
 Vice President, Business Development 
 Millennium Pharmaceuticals, Inc. 
 40 Landsdowne Street 

Cambridge, MA 02139 
  

	Re:	Amendment to the Asset Purchase Agreement by and between Portola Pharmaceuticals, Inc. (“Portola”) and Millennium Pharmaceuticals, Inc. (“MLNM”)
dated November 7, 2003 (the “Asset Purchase Agreement”), the License Agreement between Portola and MLNM dated July 30, 2004 (the “License Agreement”), and Agreement to Terminate the System Development Agreement between
Portola and MLNM dated December 9, 2004 (the “System Agreement” and together with the Asset Purchase Agreement and License Agreement, the “Agreements”). 

Dear [*]: 
 This letter agreement (the
“Letter Agreement”) sets forth our amendment to the provisions of the Asset Purchase Agreement and the License Agreement relating to certain rights granted to MLNM with respect to products developed by Portola under each such agreement,
and our agreement to terminate the System Agreement and enter into a new agreement in consideration of cash payments to be made and equity to be issued by Portola pursuant to this Letter Agreement. Capitalized terms not defined in this Letter
Agreement shall have the meaning provided in the relevant Agreement. The Letter Date shall be the date this Letter Agreement is countersigned by you. 
 1. Amendment of Section 2.2 of the License Agreement: The parties hereby agree that Section 2.2 of the License Agreement is hereby amended and restated to read in full as follows:

 2.2 Non-exclusive Right of Negotiation. If at any time prior to the [*] anniversary of the Effective
Date, Portola decides to discuss with one or more Third Parties the terms under which such Third Party, either alone or together with Portola or Portola’s Affiliate, shall develop and commercialize one or more

  
 1. 

 
MLN1021 Products, then Portola shall so notify Millennium in writing (a “Notice of Opportunity”) within [*] after Portola’s first discussion with such Third Party. If Millennium is
interested in participating in the development and commercialization of such MLN1021 Products, it shall so notify Portola within [*] after its receipt of Portola’s Notice of Opportunity (the “Response Period”), in which case the
parties shall discuss in good faith for a period up to [*] following Portola’s receipt of such notice from Millennium (the “Discussion Period”) the terms of an agreement under which Millennium may obtain such rights from Portola.
During the Response Period and the Discussion Period (if applicable), Portola may discuss with any Third Party such an opportunity. After expiration of (i) the Response Period, if Millennium does not so notify Portola of its interest in such
opportunity within such time period, or (ii) the Discussion Period, if Millennium does so notify Portola of its interest in such opportunity during the Response Period, Portola may execute a definitive agreement for the development and
commercialization of such MLN1021 Products with a Third Party. 
 2. Amendment of Section 1.4 of the Asset Purchase Agreement: The
parties hereby agree that Section 1.4 of the Asset Purchase Agreement is hereby amended and restated to read in full as follows: 
 1.4 Non-exclusive Right of Negotiation for P2Y12 Receptor Antagonist Products. If at any time prior to the [*] anniversary of the Effective Date, Purchaser decides to discuss with one or more Third
Parties the terms under which such Third Party, either alone or together with Purchaser or Purchaser’s Affiliate, shall develop and commercialize one or more P2Y12 Receptor Antagonist Products, then Purchaser shall so notify Seller in writing
(a “Notice of Opportunity”) within [*] of Portola’s first discussion with such Third Party. If Seller is interested in participating in the development and commercialization of such P2Y12 Receptor Antagonist Products, it shall so
notify Purchaser within [*] after its receipt of Purchaser’s notice to Seller (the “Response Period”), in which case the parties shall discuss in good faith for a period of up to [*] following Purchaser’s receipt of such notice
from Seller (the “Discussion Period”) the terms of an agreement under which Seller may obtain such rights from Purchaser. During the Response Period and the Discussion Period (if applicable), Purchaser may discuss with any Third Party such
an opportunity. After expiration of (i) the Response Period, if Seller does not so notify Purchaser of its interest in such opportunity within such time period, or (ii) the Discussion Period, if Seller does so notify Purchaser of its
interest in such opportunity during the Response Period, Purchaser may execute a definitive agreement with a Third Party for the development and commercialization of such P2Y12 Receptor Antagonist 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. 

  
 2. 

 3. Termination of the System Agreement; New Agreement for the System: The parties have agreed to
terminate the System Agreement and enter a new agreement, on the terms set forth in the agreement attached hereto as Attachment A 
 4.
Consideration for Letter Agreement. In consideration of MLNM’s agreement to amend Section 1.4 of the Asset Purchase Agreement and Section 2.2 of the License Agreement and to terminate the System Agreement and to enter into a new
agreement as provided in Paragraph 3, Portola will pay to MLNM the following consideration: 
  

	(a)	Portola shall pay to MLNM $500,000 in cash within [*] after the Letter Date. 

 

	(b)	As promptly as practical, bearing in mind the need to obtain stockholder consents, but in any event by [*], Portola shall issue to MLNM that number of shares of Portola
Series B Preferred Stock (the “Series B Shares”) equal to $500,000 divided by the price per share of [*]. Portola shall amend its then current Amended and Restated Investors Rights Agreement to cause the Series B Shares to be deemed
“Shares” thereunder. If such shares are not issued to MLNM by [*], Portola shall pay MLNM $500,000 cash in lieu of issuing such shares. 

  

	(c)	Within [*] after the later of (i) Portola’s entry into a definitive agreement with a Third Party for the development and/or commercialization of MLN1021
Products (as defined in the License Agreement) and (ii) Portola’s entry into a definitive agreement with a Third Party for the development and/or commercialization of P2Y12 Receptor Antagonist Products (as defined in the Asset Purchase
Agreement), Portola shall pay to MLNM $250,000 in cash, and shall as promptly as practical (and in any event within [*] after such effective date) issue to MLNM a number of shares of Portola capital stock equal to $250,000 divided by the [*] value
of such stock [*]. If at the time of such stock issuance Portola remains a privately-held company, then the shares to be issued to MLNM shall be shares of the [*] stock issued by Portola in its [*] financing and the [*] value per share shall be [*]
stock was [*], and Portola shall [*] as were [*] of stock in such financing. If at the time of such stock issuance Portola is a public company, then MLNM will have the option to receive either $250,000 in cash and $250,000 in Portola stock or
$500,000 in cash. If MLNM elects to receive cash and stock, then the shares to be issued to MLNM shall be shares of Portola common stock and the [*] value per share shall be equal to [*] price of Portola common stock during the [*] preceding the
date upon which such stock is issued. If for any reason Portola does not issue the shares of stock required under this Paragraph 4(c) within the allowed [*] period, then Portola shall pay MLNM cash in the amount of $250,000 in lieu of the stock
issuance of equivalent value. 

 If the above is acceptable to you, please sign below as indicated and return the countersigned
copy to me. 

  
 [*] = 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. 

 Sincerely, 
 Carol Olson, Executive Vice President 
 Portola Pharmaceuticals, Inc. 

270 East Grand Avenue, Suite 22 
 South San
Francisco, CA 94080 
  

			
	Agreed and Accepted	  	
		
	Millennium Pharmaceuticals, Inc.	  	Portola Pharmaceuticals, Inc.
		
	 /s/ [*]
	  	 /s/ Carol Olson

	[*],	  	Carol Olson,
	Vice President, Business Development	  	Executive Vice President
		
	Date: December 6, 2005	  	Date: December 6, 2005

  
 [*] = 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. 

 Attachment A 
 Termination 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. 

  
 5. 

 TERMINATION AND LICENSE AGREEMENT 

This Termination and License Agreement (the “Agreement”) is made and entered into as of December 6, 2005 (the
“Effective Date”) by and between Millennium Pharmaceuticals, Inc., a Delaware corporation, having its principal place of business at 40 Landsdowne Street, Cambridge, MA 02139, USA (“Millennium”) and Portola
Pharmaceuticals, Inc., a Delaware corporation, having a principal place of business at 270 E. Grand Ave., Suite 22, South San Francisco, CA 94080, USA (“Portola”). 

INTRODUCTION 
 1. Millennium and Portola are biopharmaceutical companies engaged in the research and development of drugs and related activities; 
 2. Millennium owns certain rights in certain technology relating to a device and method for [*] to obtain [*], including, but not limited to that described in Millennium’s patent application entitled
“[*];” 
 3. Portola owns certain rights in certain patents relating to a method for [*] to obtain [*], and Portola
also has experience in designing and testing experimental methods for [*] and related uses and assays; 
 4. Millennium and
Portola entered into the System Development Agreement on December 9, 2004 (the “System Agreement”) under which each Party agreed to work together on furthering the development of [*] system for [*]; and 

5. Millennium and Portola now desire to terminate their obligations under such System Agreement and to enter into a new agreement whereby
Portola will have the sole right to continue to develop and commercialize the [*] system, and Millennium and [*] third parties will continue to access and use the [*] system in support of certain research programs. 

In consideration of the mutual covenants contained in this Agreement and intending to be legally bound, the Parties agree as follows:

 SECTION 1 – DEFINITIONS 
 When used in this Agreement, each of the following terms, whether used in the singular or plural, will have the meanings set forth in this Section 1. 

1.1 “Affiliate” means any entity which controls, is controlled by or is under common control with a Party. An entity
will be regarded as in control of another entity if it owns or controls at least fifty percent (50%) of the shares of the subject entity entitled to vote in the election of directors or, in the case of an entity that is not a corporation, for
the election of the corresponding managing authority. 

  
 [*] = 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. 

 1.2 “[*] System” means the version of the [*] system device, existing as of
the Effective Date, that has been developed by Millennium and Portola under the System Agreement, including all software and hardware components thereof. 
 1.3 “Authorized Personnel” means (a) Third Party consultants, contractors and agents of Millennium and/or Millennium’s Affiliates, in each case, that are performing services on
behalf of Millennium or its Affiliates; and (b) employees of Millennium and/or its Affiliates. 
 1.4 “Change of
Control” means the occurrence of any of the following events: (a) the approval by shareholders of any Party of a merger or consolidation of such Party with any other corporation, other than a merger or consolidation which would result
in the voting securities of such Party outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the
total voting power represented by the voting securities of such Party or such surviving entity outstanding immediately after such merger or consolidation; (b) the approval by the shareholders of any Party of a plan of complete liquidation of
such Party or an agreement for the sale or disposition by any Party of all or substantially all of such Party’s assets; or (c) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of any Party representing fifty percent (50%) or more of the total voting power represented by such
Party’s then outstanding voting securities. 
 1.5 “Confidential Information” means, with respect to a
Party, all information of any kind whatsoever (including without limitation, compilations, data, formulae, models, patent disclosures, procedures, processes, projections, protocols, results of experimentation and testing, specifications, strategies
and techniques), and all tangible embodiments of any of the foregoing, of any kind whatsoever (including without limitation, apparatus, biological or chemical materials, animals, cells, compositions, documents, drawings, software, machinery, patent
applications, records and reports), which is disclosed by that Party to the other Party hereunder and is marked as confidential at the time of disclosure to the receiving Party or, if disclosed orally, is identified as being confidential at the time
of disclosure [*]. Notwithstanding anything to the contrary in this Section 1.5, “Confidential Information” does not include any information or embodiments thereof to the extent which a Party can demonstrate using competent
documentation: 
 (a) is or becomes public or available to the general public other than through the act or default of the
receiving Party or its Affiliates or their employees, advisors, consultants, or licensees; or 
 (b) is obtained by the
receiving Party without a duty of confidentiality from a Third Party who lawfully possesses and lawfully discloses such Confidential Information; 

  
 [*] = 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. 

 (c) is known by the receiving Party or any of its Affiliates prior to disclosure by the
other Party under this Agreement and was not obtained or derived directly or indirectly from the other Party or from any disclosure by the owning Party under the System Agreement; or 

(d) is independently developed by the receiving Party or its Affiliates without the use of the other Party’s Confidential
Information. 
 1.6 “Control” means possession of the right to transfer or supply Know-How or materials
embodying Intellectual Property Rights, or to assign or grant a license or sublicense as provided for in this Agreement, in each case without violating the terms of any agreement or other arrangement with any Third Party. 

1.7 “[*]” means that certain [*] having as [*] the [*], which is a [*] containing [*] and [*], and having [*] and the [*], and
[*], that [*] of [*] and [*]. 
 1.8 “[*] Third Parties” means a Third Party designated by Millennium or its
partner [*] who wishes to [*] pursuant to Section 2.2 (c)(1)(ii) to [*]. 
 1.9 “Intellectual Property
Rights” means any and all: (a) rights associated with works of authorship, including, but not limited to, exploitation rights, copyrights, moral rights, and database rights; (b) trademark and trade name rights and similar rights;
(c) trade secret rights; (d) Patents, designs, algorithms, and other industrial property rights; (e) rights in Know-How and all other intellectual and industrial property and proprietary rights of every kind and nature throughout the
universe, whether arising by operation of law, by contract or otherwise; and (f) all registrations, applications, continuations, continuations-in-part, renewals, extensions, combinations, divisions, reexaminations, or reissues of the foregoing.

 1.10 “Know-How” means any and all of the following: (a) information (including without limitation,
nucleic acid and amino acid sequence information and information relating to the role of a gene in a disorder or disease or relating to the treatment of a disorder or disease); (b) materials (including, without limitation, biological materials
such as DNA, RNA, proteins, peptides, plasmids, vectors, cell lines and organisms); (c) data (including, without limitation, pharmacological, toxicological and clinical information and test data); and (d) assays or techniques (including,
without limitation, formulae, practices, methods, processes, knowledge and experience), whether or not that information, materials, data, assays or techniques are patentable or may be protected by any other proprietary right. 

1.11 “Millennium Technology” means all Intellectual Property Rights which are Controlled by Millennium or its Affiliates
as of the Effective Date (including all Intellectual Property Rights Controlled by Millennium or its Affiliates which were developed, conceived or reduced to practice by or on behalf of Millennium in the course of its performance of the System
Agreement) that are necessary for the development or commercialization of the [*] System and/or Product, or are [*] or [*] for use with the [*] System. Notwithstanding anything to the contrary, the Millennium Technology excludes any Intellectual
Property Rights covering 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. 

  
 8. 

 
compositions of matter, methods of making or methods of [*] or [*] arising from the Millennium [*], including without limitation, [*]. 

1.12 “Party” means either Portola or Millennium, as applicable, and “Parties” means Portola and
Millennium. 
 1.13 “Patents” means all: (a) U.S. patents and patent applications existing as of the
Effective Date; (b) U.S. patent applications filed after the Effective Date, including any continuations, continuations-in-part, divisions, provisional or any substitute applications; (c) patents issued with respect to the patent
applications in (a) or (b); (d) reissues, reexaminations, renewals or extensions (including any supplemental protection certificate) of any such patent in (a) or (c); (e) confirmation patents or registration patents or patents of
addition based on any patent; and (f) non-U.S. counterparts of any of the foregoing in (a) – (e). 
 1.14
“Portola Technology” means all Intellectual Property Rights which are Controlled by Portola or its Affiliates: (a) as of the Effective Date (including all Intellectual Property Rights Controlled by Portola or its Affiliates
which were developed, conceived or reduced to practice by or on behalf of Portola in the course of its performance of the System Agreement); or (b) by reason of the development or acquisition by Portola or its Affiliates independently of this
Agreement but during the term of this Agreement and that, in each case, are necessary for the practice or use of the [*] System. Notwithstanding anything to the contrary, the Portola Technology excludes any Intellectual Property Rights covering the
compositions of matter, methods of making or methods of [*] or [*] arising from the Portola [*]. 
 1.15
“Product” means the [*] System, including any updates and improvements thereto, as such device is developed and commercialized by Portola pursuant to this Agreement. 

1.16 “Sublicense Economics” means [*] and [*] received by Portola from a Third Party in consideration for a license or
sublicense under the rights granted to Portola in Section 3.1 below, excluding [*] or [*] or [*] or [*], or [*]; provided however, that such license or sublicense has not [*] or [*]. 

1.17 “Third Party” means any person or entity other than Millennium, Portola or their respective Affiliates. 

1.18 “Valid Claim” means (i) an unexpired claim of an issued Patent within the Millennium Technology which has not
been found to be unpatentable, invalid or unenforceable by an unreversed and unappealable decision of a court or other authority in the subject country; or (ii) a claim of a pending Patent within the Millennium Technology that has been pending
for less than [*]. 
 SECTION 2 – TERMINATION OF THE SYSTEM AGREEMENT 

2.1 Termination of the System Agreement. Notwithstanding Section 8 of the System Agreement, the Parties agree that effective
as of the Effective Date of this Agreement, 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. 

 
System Agreement is terminated, and all rights and obligations of the Parties under the System Agreement are terminated except for those rights specifically identified in this Agreement as
surviving such termination of the System Agreement. 
 2.2 Consequences of Termination. 

(a) Survival of Provisions under System Agreement. Notwithstanding Section 8.4 of the System Agreement, only the following
Sections of the System Agreement (and no others) shall survive the termination of the System Agreement pursuant to this Agreement: Sections 1, 4.1 (as modified by Section 4.3 hereof), 5, 6, 7.2, and 9. 

(b) Further Development by Portola. Portola has the right to continue to develop and commercialize the [*] System and the Product,
[*]. 
 (c) Continued Access to [*] System by Millennium and [*] Third Parties. 

(1) Access to [*] System. 
 (i) By Millennium. Millennium may submit written notice to Portola requesting access to [*] System(s) at Millennium’s facilities. Upon such request, the Parties shall negotiate the amount that
Millennium would compensate Portola for providing such [*] System (excluding Portola’s costs of supporting such [*] System which are handled in Section 2(c)(2)), calculated at Portola’s then current [*] plus [*] in connection with
making, transferring and installing such [*] System. Notwithstanding the foregoing, the [*] to be so paid to Portola for any [*] System by Millennium (if the parties agree to [*] of [*]) will not exceed [*] dollars ($[*]) unless otherwise agreed in
writing by the Parties or unless Portola [*] in the [*] or [*], which in either case may cause [*] providing such [*] System to increase. Portola will [*] enter into agreements with Millennium to supply and support any [*] Systems provided to
Millennium, provided that in the event that Portola does not then have such [*] System for use by Millennium because Portola requires the same for [*] or to fulfill [*], then Portola shall have the right to provide to Millennium a Product instead of
[*] System; and further provided that if Portola provides a Product to Millennium, such Product shall be treated as [*] System for purposes of this Agreement. For additional clarity, any additional [*] System or Product, as the case may be, provided
by Portola to Millennium shall be subject to the terms and conditions of this Agreement. 
 (ii) By [*] Third Parties.
Portola will permit [*] Third Parties to use [*] Systems in order to conduct scientific research regarding [*] as follows: Portola will [*] enter into agreements with [*] Third Parties to license, supply and support [*] Systems provided to [*] Third
Parties; provided, however, it shall not be unreasonable for Portola to refuse to enter into an agreement to [*] Third Party if such Third Party would use such [*] System for research directed to programs or products that would be competitive with
Portola’s own programs or products, or if providing and supporting such [*] System would require Portola to allocate to such [*] Third Party more than a reasonable amount of Portola’s resources (in view of its then-existing resources).
Furthermore, Portola will [*] in order to conduct scientific 

  
 [*] = 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.

 
research regarding [*], solely to the extent that Portola, in its reasonable discretion, determines that it has sufficient resources to [*] and then has [*] for such purpose, with the
negotiations of [*] and [*] also being subject to [*] in the [*]. If an agreements is entered into between Portola and [*] Third Party, such agreement will provide that the [*] Third Party would compensate Portola for its costs to provide the [*]
System (excluding support), calculated at Portola’s then current [*] plus [*]. Notwithstanding the foregoing, the [*] to be paid to Portola for any [*] System by [*] Third Party (if the parties agree to [*] of [*]) will not exceed [*] dollars
($[*]) unless otherwise agreed in writing by the Parties or unless Portola [*] in the [*] or [*], which in either case may cause [*] System to increase. Portola may, at its discretion, provide a Product in lieu of [*] System in fulfillment of its
obligations under this Section, and such Product shall be treated as [*] System under this Agreement. For the purpose of clarity, Portola shall have no obligation to provide [*] System or Product to [*] Third Party beyond the [*]. In addition, it
shall not be unreasonable for the limitations in Section 2.2(c)(3) to be incorporated into any agreement between Portola and [*] Third Party. 
 (2) Support. During the term of the Agreement, upon Millennium’s and/or [*] Third Party’s reasonable written request, Portola shall provide [*] during normal business hours to enable
Millennium and/or such [*] Third Party to continue to access and use the [*] System. Such requested support will be billed separately by Portola at Portola’s then current standard rates per hour for such support. 

(3) Limitations. Millennium shall not (nor shall Millennium cause an Affiliate or an Authorized Personnel to) (i) reproduce
or modify the [*] System or any portions thereof; (ii) reverse assemble, reverse compile or reverse engineer the [*] System, or otherwise attempt to discover any underlying Intellectual Property Rights thereof; (iii) rent, sell, lease,
disclose or otherwise transfer or provide access to the [*] System or any parts thereof, except to the extent permitted under this Agreement; or (iv) alter, destroy or otherwise remove any proprietary notices or labels on or embedded within any
part of the [*] System. For clarity, title to any [*] System under this Agreement shall belong solely with Portola. The [*] Systems presently in possession of Third Parties will remain with such Third Parties for a period of [*] following the
Effective Date. If an agreement, consistent with Section 2.2(c)(1)(ii), is not reached between Portola and such Third Parties within the [*] period, then Portola shall have the right to remove those [*] Systems and/or cause them to be delivered
to Portola, provided [*] associated with the [*] Systems. 
 (d) Technology Transfer. During the [*] period following the
Effective Date, Millennium shall provide reasonable assistance to Portola as necessary to enable Portola to continue to develop and commercialize the [*] System and Product, and Millennium shall provide, without limitation, the items set forth in
the Technology Transfer Plan attached hereto as Exhibit A. Millennium shall provide such assistance to Portola at no charge, provided however, Portola shall reimburse Millennium for any reasonable out-of-pocket expenses incurred by Millennium
in providing such assistance within [*] days after receiving an invoice therefor from Millennium. Additionally, Millennium shall make available its employees listed in Exhibit B attached hereto, during such [*] period [*] during normal
business hours as reasonably 

  
 [*] = 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.

 
requested by Portola to enable Portola efficiently to continue development and commercialization of the [*] System and Product. If such employees are no longer employed by Millennium, Millennium
agrees to waive, and hereby does waive, such former employees’ non-compete and nondisclosure obligations or restrictions on use of Millennium’s Confidential Information, solely to the extent necessary to enable such former employees to
consult for Portola [*] in connection with the [*] System and Product. Without limiting any of the foregoing sentences, the Parties have agreed to conduct the technology transfer described in this Section 2.2(d) according to the Technology
Transfer Plan set forth in Exhibit A attached hereto. 
 (e) Compensation Under a Commercialization Agreement. If
Portola enters into a commercialization agreement with a Third Party for the commercialization of Product by such Third Party, Portola shall pay to Millennium a portion of any Sublicense Economics that Portola receives from such Third Party at [*]
at the [*] by Portola and the Third Party. The rate of such payment by Portola to Millennium [*] versus [*] at the time such [*]. Accordingly, [*] such rate and the resulting portion of any Sublicense Economics paid by Portola to Millennium [*].

 (f) [*] Under a Commercialization Agreement. If the commercialization agreement entered into by Portola and a Third
Party to commercialize the Product [*] or [*] the Product and [*] in connection with development or commercialization of [*], then Portola [*] or [*] the Product and [*]. 
 SECTION 3 – GRANT OF LICENSES 
 3.1 Portola’s License to
Millennium Technology. Millennium and its Affiliates hereby grant to Portola and its Affiliates a worldwide, exclusive license, with the right to grant sublicenses through multiple tiers, under the Millennium Technology, to make, use, sell,
offer for sale and import the [*] System and Product; provided however, Millennium shall retain the right to request access to the [*] System(s) pursuant to Section 2.2(c) above. 

3.2 Millennium’s License to Portola Technology. Portola hereby grants to Millennium a worldwide, non-exclusive license,
without the right to grant sublicenses, under the Portola Technology, to use the [*] System(s) to perform internal research, to permit Affiliates and Authorized Personnel to perform such internal research, and to [*] to conduct research related to
[*]; provided, however, that (i) Millennium will not use or permit the [*] System(s) in its possession to be used for [*] product or program that competes with a product or program of Portola’s, and (ii) any such Affiliate or
Authorized Personnel shall be subject to all other restrictions and obligations set forth in this Agreement. 
 3.3 No
Further Licenses. Other than as expressly provided in Section 3 of this Agreement, each Party agrees that it will not have been deemed to have been granted any rights, title, or interest in any Intellectual Property Rights of the other
Party hereunder. Portola covenants that neither it nor its Affiliates will use the Millennium Technology outside the scope of the license granted in Section 3.1. Millennium covenants that neither it, nor its Affiliates (or

  
 [*] = 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.

 
as to Millennium, any of its Authorized Personnel), will use the Portola Technology outside the scope of the license granted in Section 3.2. 

SECTION 4 – INTELLECTUAL PROPERTY 
 4.1 Ownership of Inventions as of the Effective Date. Each Party will continue to own all inventions and related Intellectual Property Rights that it owned as of the Effective Date. 

4.2 Ownership of Inventions after the Effective Date. Except as otherwise provided in this Section 4.2, each Party
shall own all inventions made solely by its employees, agents or independent contractors in the course of performing its activities and obligations under this Agreement. Except as otherwise provided in this Section 4.2, all inventions made
jointly by employees, agents or independent contractors of each Party in the course of performing their activities and obligations under this Agreement shall be owned jointly by the Parties such that each Party has an undivided one-half interest
therein (without a duty of accounting to the other Party). Inventorship shall be determined in accordance with United States patent laws.  
 4.3 Patent Prosecution. 
 (a) Sole Inventions. Each Party has the
right to continue to file, prosecute and maintain Patents that it owned as of the Effective Date, except as otherwise provided in this Section 4.3. Each Party shall be responsible for filing, prosecuting, and maintaining Patents made solely by
its employees, agents or independent contractors in the course of performing its activities and obligations under this Agreement, except as otherwise provided in this Section 4.3. Notwithstanding the forgoing, Portola shall have the first
right, but not the obligation, to assume responsibility for prosecuting and maintaining any and all Patents (i) claiming the invention disclosed in Millennium’s patent application entitled “[*]” and having a serial number of [*]
and a filing date of [*] and (ii) otherwise Controlled by Millennium, the practice of which would infringe a claim of the foregoing Patents set forth in (i) (determined as if the claims in any such application were issued), at
Portola’s expense. 
 (b) Joint Inventions. Portola has the first right, but not the obligation, to file at its
expense, any jointly owned inventions conceived or reduced to practice jointly by employees, consultants or agents of both Parties in the course of performance of their activities and obligations under the System Agreement and/or this Agreement.
Additionally, Portola will have the right to prosecute and maintain resulting Patents on such joint inventions. 
 (c)
Back-up Prosecution Rights. If a Party determines that it will not file for patent protection on any invention that relates to the [*] System or any component or use thereof, or continue to prosecute and maintain related Patents on such
inventions, in each case for which it has the first responsibility as described in Sections 4.3(a) and 4.3(b), then the other Party shall have the right to assume such responsibility at its expense. 

4.4 Infringement by Third Parties. Millennium shall promptly notify Portola in writing of any alleged or threatened infringement
of the Millennium Technology or Portola 

  
 [*] = 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.

 
Technology which Millennium’s Chief Patent Counsel is notified of in writing. Portola shall have the first right, but not the obligation, to prosecute such infringement arising by the
manufacture, use or sale by a Third Party of a product potentially competitive with the [*] System and/or the Product, and shall control such action. 
 SECTION 5 – CONFIDENTIALITY 
 5.1 Access. Any Party receiving
any Confidential Information from the other Party in connection with this Agreement or the execution, delivery and performance of this Agreement will: (a) keep all that Confidential Information in strict confidence; (b) not disclose that
Confidential Information to any Third Party, except that each Party will have the right to disclose that information solely pursuant to Section 5.2; and (c) use that Confidential Information solely in connection with activities permitted
under this Agreement. Each receiving Party will permit access to the other Party’s Confidential Information only to those of its employees, Affiliates, and (in the case of Millennium) its Authorized Personnel, who have a need to know such
Confidential Information for purposes of this Agreement and who are bound by terms and conditions of confidentiality and non-use substantially equivalent to the obligations in this Section 5. 

5.2 Authorized Disclosure. Notwithstanding anything to the contrary, each Party may disclose Confidential Information received
from the other Party to the extent such disclosure is reasonably necessary in the following instances: 
 (a) to prepare
applicable regulatory filings or to seek patent protection; 
 (b) to prosecute or defend litigation; 

(c) to comply with the rules of a securities exchange; or 
 (d) to comply with applicable laws, rules, court orders or governmental regulations. 
 5.3 Third Party Disclosure. Millennium covenants that each permitted Third Party to whom any Confidential Information is disclosed will be informed of its confidential nature and, prior to
disclosure, will agree in writing to be bound by terms and conditions of confidentiality and non-use substantially equivalent to the obligations in this Section 5. The Party receiving Confidential Information will ensure that the Confidential
Information is not used or disclosed to any person given access by that Party, except as permitted by this Agreement, and that Party will be responsible for any such breach of this Agreement. 

5.4 Prior Notice of Required Disclosure. If the receiving Party or any of its Affiliates (or as to Millennium, any of its
Authorized Personnel) becomes legally required to disclose any Confidential Information, the receiving Party will give the owning Party reasonably prompt notice so that the disclosing Party may seek a protective order or other appropriate remedy
concerning any disclosure. The receiving Party and its Affiliates (and as to Millennium, any 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. 

  
 14.

 
its Authorized Personnel) will cooperate reasonably with the disclosing Party in connection with the disclosing Party’s efforts to obtain any order or other remedy. If any order or other
remedy does not fully preclude disclosure, or the disclosing Party waives compliance with this Section 5.4, the receiving Party and its Affiliates (and as to Millennium, any of its Authorized Personnel) will make disclosure only to the extent
that disclosure is legally required and will use its commercially reasonable efforts to have confidential treatment accorded to the disclosed Confidential Information. 
 5.5 Duration of Obligations. Each Party’s obligations under this Section 5 with regard to the other Party’s Confidential Information will continue until the [*] anniversary of the
expiration or earlier termination of this Agreement. 
 SECTION 6 – INDEMNIFICATION AND LIMITATION OF LIABILITY

 6.1 Millennium’s Indemnification of Portola. Millennium hereby agrees to defend, indemnify and hold harmless
Portola, its trustees, directors, officers, employees, attorneys and agents (collectively, the “Portola Indemnitees”) from all claims or demands (including but not limited to those of product liability, personal injury, death or
damage to property) made against them (and any related losses, expenses or attorneys’ fees) by Third Parties (collectively, “Claims”) arising from: any Millennium Indemnitee’s negligence, willful misconduct, or breach of
obligations or representations under this Agreement, except to the extent any such Claim arises from: (i) [*]; or (ii) any Portola Indemnitee’s negligence, willful misconduct, or breach of obligations or representations under this
Agreement. Notwithstanding anything to the contrary in this Section 6.1, Millennium will [*] for any claim that any Millennium Technology or Portola Technology [*]. 
 6.2 Portola’s Indemnification of Millennium. Portola hereby agrees to defend, indemnify and hold harmless Millennium and its directors, officers, employees, and agents, including the [*] Third
Parties, (collectively, the “Millennium Indemnitees”) from all Claims: (i) [*] or [*]; or (ii) arising from any Portola Indemnitee’s negligence, willful misconduct, or breach of obligations or representations under
this Agreement, except to the extent any such Claim arises from any Millennium Indemnitee’s negligence, willful misconduct, or breach of obligations or representations under this Agreement. 

6.3 Limitation of Liability. EXCEPT FOR BREACHES OF SECTION 5 OF THIS AGREEMENT, IN NO EVENT WILL EITHER PARTY OR EITHER
PARTY’S AFFILIATES BE LIABLE TO THE OTHER PARTY OR THE OTHER PARTY’S AFFILIATES FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR INDIRECT DAMAGES ARISING IN ANY WAY OUT OF THIS AGREEMENT, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY. THIS
LIMITATION WILL APPLY EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF 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. 

  
 15.

 SECTION 7 – REPRESENTATIONS AND DISCLAIMER OF WARRANTIES 

7.1 Representations and Warranties. Each Party represents and warrants to the other Party that: (a) it has the full right,
power and authority to enter into this Agreement; (b) to the knowledge of such Party, there are no existing or threatened actions, suits or claims pending with respect to the subject matter of this Agreement or the right of the Party to enter
into and perform its obligations under this Agreement; (c) it has taken all necessary action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; (d) this Agreement has
been duly executed and delivered on behalf of it, and constitutes a legal, valid, binding obligation, enforceable against it in accordance with the terms of this Agreement; and (e) the execution and delivery of this Agreement and the
performance of its obligations hereunder do not conflict with, or constitute a default under, any of such Party’s contractual obligations. 
 7.2 Disclaimer. ANY INFORMATION, MATERIALS, SERVICES, INTELLECTUAL PROPERTY OR OTHER PROPERTY OR RIGHTS, GRANTED OR PROVIDED BY PORTOLA OR MILLENNIUM PURSUANT TO THIS AGREEMENT ARE PROVIDED ON AN
“AS IS” BASIS. EXCEPT AS PROVIDED UNDER SECTION 7.1, NEITHER PORTOLA NOR MILLENNIUM MAKE ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AS TO ANY MATTER INCLUDING, BUT NOT LIMITED TO, WARRANTY OF FITNESS FOR PARTICULAR PURPOSE, OR
MERCHANTABILITY, EXCLUSIVITY OR RESULTS OBTAINED FROM USE. MILLENNIUM MAKES NO WARRANTY OF ANY KIND WITH RESPECT TO FREEDOM FROM PATENT, TRADEMARK, OR COPYRIGHT INFRINGEMENT, OR THEFT OF TRADE SECRETS AND DOES NOT ASSUME ANY LIABILITY HEREUNDER FOR
ANY INFRINGEMENT OF ANY PATENT, TRADEMARK, OR COPYRIGHT ARISING FROM THE USE OF THE INFORMATION, MATERIALS, SERVICES, INTELLECTUAL PROPERTY RIGHTS, OR OTHER PROPERTY OR RIGHTS GRANTED OR PROVIDED BY IT HEREUNDER. EACH PARTY AGREES THAT IT WILL NOT
MAKE ANY WARRANTY ON BEHALF OF THE OTHER PARTY OR ITS AFFILIATES, EXPRESS OR IMPLIED, TO ANY ENTITY CONCERNING THE APPLICATION OF OR THE RESULTS TO BE OBTAINED WITH THE INFORMATION, MATERIALS, SERVICES, INTELLECTUAL PROPERTY RIGHTS OR OTHER PROPERTY
OR RIGHTS, GRANTED OR PROVIDED BY THE OTHER PARTY PURSUANT TO THIS AGREEMENT. 
 SECTION 8 – TERM AND TERMINATION

 8.1 Term of Agreement. This Agreement shall become effective on the Effective Date and shall remain in effect,
unless earlier terminated pursuant to this Article 8, until the expiration on a country-by-country basis of the last-to-expire Valid Claim claiming the composition or use of the [*] System or Product. Thereafter, the rights granted to Portola under
Section 3.1 shall be fully paid-up in such country. 
 8.2 Elective Termination. Portola shall have, at any time,
the right to terminate this Agreement at will in its entirety upon [*] prior written notice to Millennium. 

  
 [*] = 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.

 8.3 Termination for Cause. Each Party may terminate this Agreement in the event of a
material breach by the other Party which remains uncured for a period of [*] after the other Party receives written notice of the material breach from the non-breaching Party (which notice shall describe in detail the nature of the breach) to cure
such breach (or, if such default cannot be cured within such [*] period, the breaching Party has not commenced actions to cure such default during such [*] period and diligently continue such actions until the cure is effected). Any such termination
shall become effective at the end of such [*] period unless the breaching Party has cured any such breach or default prior to the expiration of such [*] period (or, if such default is capable of being cured but cannot be cured within such [*]
period, the breaching Party has commenced and diligently continued actions to cure such default provided always that, in such instance, such cure must have occurred within [*] after notice thereof was provided to the breaching Party by the
non-breaching Party to remedy such default). 
 8.4 Termination For Change of Control. Portola may immediately terminate
this Agreement in the event of a Change of Control of Millennium by providing written notice to Millennium within [*] of receipt of notice of the Change of Control. 
 8.5 Effect of Expiration or Termination. 
 (a) In General.
Expiration or termination of the Agreement will not relieve the Parties of any obligation accruing prior to expiration or termination. The rights, powers and remedies under this Agreement will be in addition to, and not in limitation of, all
rights, powers and remedies provided at law or in equity. All of such rights, powers and remedies may be exercised successively or cumulatively. 
 (b) Termination by Portola. 
 (1) Elected Termination. Upon
termination of this Agreement by Portola under Section 8.2, Sections 1, 2.1, 2.2(a), 3.2, 3.3, 4, 5, 6, 7.2, 8.5 and 9 will survive. Additionally, Millennium and each of the [*] Third Parties existing as of the date of such elective termination
by Portola, shall thereafter [*] as of the date of such termination; provided however, Portola shall have no further obligations to Millennium and the [*] Third Parties under Section [*] above. 

(2) Termination for Cause, Change of Control. Upon termination of this Agreement by Portola under Sections 8.3 or 8.4, Sections
1, 2.1, 2.2(a), 2.2(b), 2.2(d), 2.2(e), 3.1, 3.3, 4, 5, 6, 7.2, 8.5 and 9 will survive. Additionally, upon termination, the rights under Section 2.2(c) and license under Section 3.2 shall [*] for the [*] and those [*] where the [*] System
[*]; provided, however, [*] shall [*] generally. If Portola terminates this Agreement under Sections 8.3 or 8.4, Portola [*], but [*] any [*] that are [*] pursuant to [*]. As [*], such [*] may include [*] to Millennium. 

(c) Termination by Millennium for Cause. Upon termination of this Agreement by Millennium under Section 8.3, Sections 1, 2.1,
2.2(a), 3.2, 3.3, 4, 5, 6, 7.2, 8.5 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. 

  
 17.

 
9 will survive. Additionally, Millennium and each of the [*] Third Parties existing as of the date of such termination by Millennium, shall [*] as of the date of such termination by Millennium.

 (d) Expiration. Upon expiration of this Agreement under Section 8.1, Sections 1, 2.1, 2.2(a), 2.2(b), 4, 5, 6,
7.2, 8.5 and 9 will survive. Additionally, Millennium and each of the [*] Third Parties existing as of the date of such expiration of this Agreement, shall [*] as of the date of such termination. Thereafter, the rights granted to Portola under
Section 3.1 shall be fully paid-up. 
 SECTION 9 – GENERAL PROVISIONS 

9.1 No Use of Name. Neither Party may use the name of the other Party in any form of advertising, press release or public
promotion without the prior written approval of such other Party. 
 9.2 Governing Law. This Agreement will be governed
by the substantive laws of the State of Delaware, without regard for any conflicts of laws provisions that would dictate the application of the laws of another jurisdiction. The U.N. Convention of the International Sale of Goods will not apply to
this Agreement. English will be the governing language for the construction and interpretation of this Agreement. 
 9.3
Independent Contractors. The relationship of Portola and Millennium established by this Agreement is that of independent contractors, and nothing contained in this Agreement will be construed to: (a) give either of the Parties the power
to direct or control the day-to-day activities of the other Party; (b) constitute the Parties as partners, joint ventures, co-owners or otherwise as participants in a joint or common undertaking; or (c) allow any of the Parties to create
or assume any obligation on behalf of the other Party for any purpose whatsoever. 
 9.4 Dispute Resolution. Should any
dispute arise between the Parties relating to this Agreement, the matter will be referred to officers of each Party, or their respective designees, who have the authority to resolve the dispute. Those representatives will negotiate in good faith
with the goal of reaching a mutually acceptable resolution as soon as is practicable, but in no event later than [*] after referral. If any unresolved matter is not resolved following referral to the designated representatives pursuant to this
Section 9.4, either Party may seek any remedy, at law or in equity, that may be available. Notwithstanding anything to the contrary, a Party may immediately seek injunctive relief that may be available for any breach of the other Party’s
obligations under Section 5. 
 9.5 Assignment. This Agreement may not be assigned or transferred by either of the
Parties without the prior written consent of the other Party, which will not be unreasonably withheld, except that either Party may make such an assignment or transfer without the other Party’s consent to either (i) the assigning
Party’s Affiliates, or (ii) to a successor to the business or assets of a Party that relate to the subject mater of this Agreement (e.g. a successor to substantially all of a Party’s Technology). Any permitted successor or assignee of
rights and/or obligations hereunder will, in a writing to the other Party, expressly assume performance of such 

  
 [*] = 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.

 
rights and/or obligations. Any permitted assignment will be binding on the successors of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of
this Section 9.5 will be null and void. In addition, except as expressly permitted in this Agreement, neither Party may delegate any of it rights or responsibilities under this Agreement to any Third Party including, but not limited to,
non-employee consultants or agents, without the other Party’s prior written consent. 
 9.6 Entire Agreement. This
Agreement, all Exhibits, and any amendments to any of the foregoing, constitute the entire and only agreement between the Parties relating to the subject matter of this Agreement, and all prior negotiations, representations, agreements and
understandings are superseded by this Agreement. Each Party will perform any further actions and will execute and deliver any further documents reasonably necessary or proper to carry out the intent of this Agreement. 

9.7 Notices. All notices to be given by any Party to this Agreement to the other Party will be in writing, and will be given by
certified or registered United States mail, return receipt requested, postage prepaid, to the other, sent by telefax or facsimile transmission, or personally delivered, at the addresses set forth below (or at such other address for a Party has
specified by like notice) and will be deemed given when received if sent by facsimile transmission or personally delivered, or if mailed as provided herein, on the second day after it is so placed in the mail. 

 

			
	If to Portola:	  	 Portola Pharmaceuticals, Inc.

270 East Grand Avenue, Suite 22
 South San
Francisco, CA 94080
 Attention: Carol Olson, Executive Vice President
 Fax: (650) 246-7376

		
	If to Millennium:	  	 Millennium Pharmaceuticals, Inc.
 40 Landsdowne Street
 Cambridge, MA 02139
 Attention: General Counsel
 Fax: (617) 374-0074

 9.8 Modification. No modification or amendment to this Agreement will be effective unless assented
to in writing by the Parties. 
 9.9 Waiver. No waiver of any rights will be effective unless assented to in writing by
the Party to be charged, and the waiver of any breach of default will not constitute a waiver of any other right hereunder or any subsequent breach or default. 
 9.10 Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable, then such provision will be construed, to the extent feasible, so as to
render the provision enforceable, and if no feasible interpretation would save such provision, it will be severed from the remainder of this Agreement. The remainder of 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. 

  
 19.

 
Agreement will remain in full force and effect, unless the severed provision is essential and material to the rights or benefits received by either Party. In such event, the Parties will
negotiate, in good faith, and substitute a valid and enforceable provision or agreement that most nearly implements the Parties’ intent in entering into this Agreement. 
 9.11 Counterparts. This Agreement may be executed in multiple counterparts, each of which will be deemed an original, but all of which together will constitute one (1) and the same instrument.

 9.12 Construction of the Agreement. Except where the context otherwise requires, wherever used, the singular will
include the plural, the plural the singular, the use of any gender will be applicable to all genders and the word “or” is used in the inclusive sense. The captions of this Agreement are for convenience of reference only and in no way
define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. This Agreement was prepared as a result of negotiation and mutual agreement between the Parties. Accordingly, no
provisions of this Agreement will be construed against any Party on the basis that the Party drafted this Agreement or any provision. In the event that the terms of this Agreement conflict with the terms of any Exhibit, then the terms of this
Agreement shall govern. 
 9.13 Force Majeure. Each Party will be excused from performing its obligations under this
Agreement if such performance is delayed or prevented by any event beyond such Party’s reasonable control, including without limitation any acts of God, fire, explosion, earthquake, weather, disease, war, terrorism, insurrection, civil strife,
riots, government action, labor shortage, or power failure, provided that such performance will be excused only to the extent of and during such disability. Any time specified for completion of performance in the Agreement falling due during
or subsequent to the occurrence of any of such events will be automatically extended for a period of time equal to the period of such disability. 
 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. 

  
 20.

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

									
	 MILLENNIUM PHARMACEUTICALS, INC.
	 		 	 PORTOLA PHARMACEUTICALS, INC.

					
	 By:
	 	 [*]
	 		 	 By:
	 	 /s/ Carol Olson

	 Name:
	 	 [*]
	 		 	 Name:
	 	 Carol Olson

	 Title:
	 	 VP
	 		 	 Title:
	 	 Executive Vice President

	 Date:
	 	 December 6, 2005
	 		 	 Date:
	 	 December 6, 2005

 Signature Page for Termination 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. 

  
 21.

 EXHIBIT A 
 TECHNOLOGY TRANSFER PLAN 

TECHNOLOGY TRANSFER PLAN FOR THE [*] SYSTEM

 General 

The following technology transfer plan outlines the transfer of [*] pursuant to the Agreement. [*] Certain capitalized terms are as
defined in the Agreement. 
 Transfer to Portola Site 
 All items will be [*] 
 A. Asset Transfer 

1. [*] Machines 
 During
the [*] period following the Effective Date, Millennium will [*]. Millennium will [*] 
 [*] 

During the [*] period following the Effective Date, Millennium will [*]. 

[*][*] 
  

	 	a.	Millennium will also [*]. 

  

	 	b.	Millennium will [*]. 

  

	 	c.	[*] 

 2. Computers and
Peripherals 
  

	 	a.	During the [*] period following the Effective Date, Millennium will [*]: 

 [*]
                                        [*]

 3. [*] Software 
  

	 	a.	Millennium will [*]. In all cases, Millennium [*]. 

  

			
	[*] Software	  	

  
 [*] = 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.

			
	[*]	  	[*]
	[*] Software	  	
	[*]	  	[*]
	[*] Software	  	
	[*]	  	[*]

  

	 	b.	Millennium will provide [*]. 

  

	 	c.	Any [*]. 

 4. Data and
Schematics 
  

	 	a.	During the [*] period following the Effective Date, Millennium will [*]. Notwithstanding the foregoing, during the Term of the Agreement, Millennium [*].

  

	 	b.	During the [*] period following the Effective Date, Millennium will [*]: 

  

			
	[*]	  	[*]

  

	 	c.	During the [*] period following the Effective Date, Millennium will [*][*]. 

 

	 	•	 	 [*] 

 5. Continued access
to Platform Technology 
  

	 	a.	During the [*] period following the Effective Date, Millennium will [*]. 

 B. Continued Development 
 1. [*] to [*] 

 

	 	a.	Portola has [*]: 

  

	 	(i)	[*]; 

  

	 	(ii)	[*]; 

  

	 	(iii)	[*]; and 

  

	 	(iv)	[*] 

  

	 	b.	Millennium shall [*]. 

  
 [*] = 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.

 EXHIBIT B 
 EMPLOYEES TO BE MADE AVAILABLE DURING TECHNOLOGY TRANSFER 

[*]; 

  
 [*] = 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.Second Amended and Restated License Agreement

 Exhibit 10.11 
 [*] = 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. 
 SECOND AMENDED AND RESTATED LICENSE AGREEMENT 

This SECOND AMENDED AND RESTATED
LICENSE AGREEMENT (the “Agreement”) is executed as of 20th day of December, 2010 (the “Effective Date”) by and between PORTOLA PHARMACEUTICALS, INC., having its principal place of business at
270 East Grand Avenue, Suite 22, South San Francisco, CA, 94080, United States (hereinafter referred to as “Portola”) and ASTELLAS PHARMA INC., having its principal place of
business at 3-11, Nihonbashi-Honcho 2-chome, Chuo-ku, Tokyo 103-8411, Japan (hereinafter referred to as “Astellas”). References to either party in this Agreement shall be deemed to include all Affiliates (hereinafter defined) of
such party. 
 W1TNESSETH THAT: 
 Whereas, Astellas has invented and developed certain Syk (Spleen Tyrosine Kinase) inhibitory compounds and is the owner of the Patents (hereinafter defined) covering such Syk inhibitory compounds and the
Know-How (hereinafter defined) related thereto. 
 Whereas, Portola and Astellas have entered into the mutual confidentiality
agreement dated as of [*] (hereinafter referred to as “Confidentiality Agreement”), and a material transfer agreement dated as of [*] (hereinafter referred to as “Material Transfer Agreement”), and have disclosed
their own confidential information regarding such compounds. 
 Whereas, Portola and Astellas have entered into the License and
Collaboration Agreement dated May 13, 2005 (hereinafter referred to as the “Original Effective Date”) as amended on November 30, 2007 and as amended and restated on March 16, 2009 (hereinafter collectively referred to
as the “Original Agreement”), which agreement the parties now wish to amend and restate in its entirety with this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants of the parties herein contained, the parties hereto agree as follows: 

 

	1.	DEFINITIONS 

 The
capitalized terms as used herein shall have the following meanings, and unless otherwise expressly set forth herein, the singular shall include the plural and vice versa. 

 

	 	1.1	“2009 Field” shall mean the use for the treatment of any human disease or condition within the Field but outside the Original Field and the 2010 Field.

  

	 	1.2	“2010 Field” means (i) [*] other than [*], and [*], (ii) [*] in [*], (iii) [*] disease, (iv) [*] and (v) [*].

  
 1 

	 	1.3	“Affiliate” shall mean, except as provided below, with respect to a party, an entity that, directly or indirectly, through one (1) or more
intermediaries, controls, is controlled by or is under common control with such party. As used in this definition of “Affiliate”, the term “control” shall mean direct or indirect ownership of more than fifty percent (50%) of
the shares of the subject entity entitled to vote in the election of directors (or, in the case of an entity that is not a corporation, for the election of the corresponding managing authority). 

 

	 	1.4	“Astellas Compound” shall mean any compound [*]. 

  

	 	1.5	“Astellas [*] Compound” shall mean any Astellas Compound that (1) [*] or [*] of a [*], either [*] or [*] and (2) is [*] for [*] for [*] in a
[*] assay measured by [*] and [*]. 

  

	 	1.6	“Control” shall mean, in the context of information, data and intellectual property, ownership or possession of the ability to grant access, license or
sublicense, as provided for herein, in any case without violating the terms of any agreement or other arrangement with any third party. 

  

	 	1.7	“Europe” shall mean all of the following countries: Albania, Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria,
Croatia, Cyprus, Czech, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Italy, Ireland, Kazakhstan, Kyrgyz, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Monaco, Moldova, Netherlands, Norway, Poland,
Portugal, Romania, Russia, San Marino, Serbia and Montenegro, Slovak, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, United Kingdom, Uzbekistan, Vatican City. 

 

	 	1.8	“Field” shall mean the use for the treatment, prevention or amelioration of any human disease or condition. 

 

	 	1.9	“Know-How” shall mean scientific, medical and/or technical data and information provided by Astellas to Portola under the Confidentiality Agreement or
[*] under the Material Transfer Agreement and those further provided by Astellas under the Original Agreement or this Agreement relating to Astellas’ research activities on the Licensed Compounds, including without limitation samples of the
Astellas Compounds, all of which are currently in the Control of Astellas. 

  

	 	1.10	“Launch Date” shall mean the date on which a Licensed Product is first shipped by Portola, Astellas or any of its sublicensees in commercial quantities
from its distribution centers for commercial sale to any third party in the Territory. 

  
 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. 

	 	1.11	“Licensed Compound” shall mean an Astellas Compound or an Other Syk Compound. 

 

	 	1.12	“Licensed Product” shall mean any finished dosage form of a pharmaceutical product which contains any Licensed Compound. 

 

	 	1.13	“NDA” shall mean any application seeking Regulatory Approval of any Licensed Product in any country in the Territory submitted to the appropriate
Regulatory Authorities. 

  

	 	1.14	“Net Sales” shall mean, with respect to any Licensed Product, the invoiced sales price of such Licensed Product billed by a party or its sublicensees,
to its customers in the Territory who are not sublicensees of such party, less (to the extent included in the invoiced sales price or otherwise demonstrated with certain documentation) the following deductions from such sales (calculated in
accordance with generally accepted accounting principles): 

  

	 	(a)	cash, trade and quantity discounts and other allowances, if any, allowed to and taken by the purchaser, 

 

	 	(b)	sales, use, value-added and other taxes or duties or other governmental charges to be imposed on the sales of such Licensed Product, 

 

	 	(c)	amounts actually repaid or credited by reason of rejections, defects, recalls or returns or retroactive price reductions, and 

 

	 	(d)	rebates actually given pursuant to agreements or applicable law (including Medicaid, Medicare and similar federal and state programs and other government programs).

 Net Sales excludes any amounts billed by a party or its sublicensees for any Licensed Products used in clinical
trials or for research purposes. 
 If either party sells any Licensed Product that includes an active ingredient other than a
Licensed Compound or a delivery device, then the parties shall agree upon a reasonable adjustment to this definition to reflect the relative contribution of value of the Licensed Compound and such other active ingredient or device. 

 

	 	1.15	“North America” shall mean Canada, United States of America and Mexico. 

 

	 	1.16	 “Original Field” shall mean the use for the [*] of [*] diseases, including but not limited to [*] and the [*] of [*] diseases,
excluding [*], and [*]. The parties set 

  
 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. 

	 	
forth in Exhibit B an exemplary list of certain indications included within the Original Field. 

  

	 	1.17	“Other Syk Compound” shall mean any compound that: (a) is [*] or [*] or [*]; (b) is not an Astellas Compound; (c) [*] or [*] of [*] Syk;
and (d) [*] or [*] during the term of this Agreement. 

  

	 	1.18	“Other Territory” shall mean countries outside North America and Europe. 

 

	 	1.19	“Patents” shall mean [*] Patents and [*] Patents. 

  

	 	1.20	“Phase III Trial” shall mean one or more clinical trails on sufficient number of patients, which trial(s) are designated to (a) establish that a
drug is safe and efficacious for its intended use; (b) define warning, precautions and adverse reactions that are associated with the drug in the dosage range to be prescribed; and (c) support approval of the Regulatory Approval for such
drug. For clarity, a Phase Ill Trial shall also include any other human clinical trial intended as a pivotal trial for filing a Regulatory Approval and the initiation of a Phase Ill Trial in patients shall mean the first dosing of the first patient
to be dosed pursuant to the protocol for such Phase III Trial. 

  

	 	1.21	“Regulatory Approval” shall mean any and all approvals, licenses, registrations, or authorizations of any Regulatory Authority necessary for the
manufacture, distribution, use, storage, import, export, transport, promotion, marketing and sale of a Licensed Compound or a Licensed Product in a country or jurisdiction. 

 

	 	1.22	“Regulatory Authority” shall mean any federal, national, multinational, state, provincial or local regulatory agency, department, bureau, commission,
council, court, tribunal, arbitrator, official or other instrumentality of a governmental entity in any country in the Territory. 

  

	 	1.23	“Results” shall mean all results, including but not limited to any discovery, invention, data and information obtained, generated, discovered or
invented by or on behalf of a party (either alone or jointly with the other party) in the course of its discovery, research, development, manufacture and commercialization activities relating to the Licensed Compounds and the Licensed Products,
during the term of this Agreement. Results shall include, but not be limited to, any discovery or invention arising out of, the studies conducted by Portola under the Material Transfer Agreement. 

 

	 	1.24	“Territory” shall mean the world. 

  
 4 

[*] = 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. 

	 	1.25	“Sublicense” shall mean a sublicense granted by Portola to a third party or its Affiliate sublicensee(s) to develop and commercialize either
(a) Other Syk Compounds and Licensed Products containing Other Syk Compounds and/or (b) Astellas Compounds and Licensed Products containing Astellas Compounds, as applicable, within the Field anywhere in the Territory.

  

	 	1.26	“Sublicense Revenue” shall mean [*] or [*] or [*] paid by a sublicensee to Portola solely in consideration for the grant by Portola of a Sublicense
(with any of the foregoing consideration received by Portola other than in the form of cash to be valued at its fair market value as of the date of receipt); provided, however, that “Sublicense Revenue” shall in any event exclude any
upfront license payment, any royalties received by Portola that are calculated as a percentage of such sublicensee’s Net Sales, any profit-sharing payments arising from the commercialization of Licensed Products, any funds paid to reimburse
research and/or development costs incurred by Portola, payments for equity or debt securities of Portola (except to the extent such payments exceed the fair market value of such securities upon date of receipt), reasonable payments tied to the
provision of goods and/or services by Portola to a sublicensee to compensate Portola for the provision of such goods and/or services, and any similar payments. 

 

	 	1.27	“[*] Patents” shall mean (a) all patents and patent applications (including patents issued thereon) listed in Exhibit Al, (b) all divisions,
continuations, continuations-in-part, patents of addition, and substitutions of the patents and patent applications in (a) above, (c) all registrations, reissues, reexaminations or extensions of any kind with respect to any of the patents
and patent applications in (a) and (b) above, and (d) all U.S. and non-U.S. counterparts of or to the foregoing. 

  

	 	1.28	“[*] Patents” shall mean (a) all patents and patent applications (including patents issued thereon) listed in Exhibit A2, (b) all divisions,
continuations, continuations-in-part, patents of addition, and substitutions of the patents and patent applications in (a) above, (c) all registrations, reissues, reexaminations or extensions of any kind with respect to any of the patents
and patent applications in (a) and (b) above, and (d) all U.S. and non-U.S. counterparts of or to the foregoing. 

  

	2.	GRANT OF LICENSE 

  

	 	2.1	Except for the rights which Astellas retains pursuant to Section 2.2 and 2.3 below, Astellas hereby grants to Portola an exclusive, worldwide license, with the
right to grant Sublicenses, under the Patents and Know-How to utilize the inventions and technology covered by the Patents and Know-How to discover, research, develop, manufacture, use, sell, offer for sale and/or import the Licensed Compounds and
Licensed Products within the Field in the Territory. 

  

	 	2.2	Astellas shall retain the right (without the right to [*] or [*] other than [*]) to use certain [*] and [*] to conduct [*] (but not [*]) under the Patents and Know-How.

  
 5 

[*] = 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. 

	 	2.3	Astellas shall retain the right, [*] or [*], to [*] any [*] in the [*]. If a party [*] in accordance with [*] any [*], such party shall so notify the other party in
writing and [*] in such notice. On receipt of such notice: (i) the notifying party may [*] and [*] such [*] in the [*]; and (ii) the other party [*] will [*] or [*] such [*] in the [*], [*] or [*]. As used in this Section 2.3,
“[*]” means the [*] defined in [*], and [*] in [*]. 

  

	 	2.4	Except as otherwise expressly provided herein, nothing in this Agreement is intended to convey or transfer ownership by Astellas to Portola of any rights, title or
interest in the Patents and Know-How. Except as expressly provided herein, nothing in this Agreement will be construed as a license or sublicense by: (a) Astellas to Portola of any patent rights, copyrights, trade secrets or other intellectual
property rights Controlled by Astellas; or (b) Portola to Astellas of any patent rights, copyrights, trade secrets or other intellectual property rights Controlled by Portola. All rights not expressly licensed by Astellas are retained by
Astellas, and all rights not expressly licensed by Portola are retained by Portola. 

  

	3.	DISCOVERY, RESEARCH AND DEVELOPMENT 

  

	 	3.1	Portola shall use commercially reasonable efforts to discover, research and develop the Licensed Compounds and the Licensed Products within the Field in the Territory.

  

	 	3.2	Within [*] after the end of each [*], Portola shall deliver to Astellas a written report on the progress of the discovery, research and development activities
hereunder. 

  

	 	3.3	In the event Portola intends to [*] and/or [*] (as evidenced by [*], or [*]), other than to [*] or other [*] (the “[*]”), Portola shall [*] for [*] with such
[*], provided that: (a) Portola shall at all times reserve the right to [*] such [*] and to [*] such [*] with respect to [*] without [*]; and (b) Portola shall at no time be required to [*] any [*], including [*] and the [*] for such [*].

  

	4.	MILESTONE AND ROYALTY PAYMENT 

  

	 	4.1	In consideration for the rights and licenses granted by Astellas to Portola herein, Portola shall make the following milestone payments (the
“Milestones”) to Astellas, subject to any available credits under Section 4.2: 

  

	 	(i)	five hundred thousand (500,000) US dollars within ten (10) business days of the Original Effective Date (which was paid by Portola on May 31, 2005);

  
 6 

[*] = 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. 

	 	(ii)	five hundred thousand (500,000) US dollars upon the first anniversary of the Original Effective Date (which was paid by Portola on May 15, 2006);

  

	 	(iii)	one million (1,000,000) US dollars upon the earlier of: (a) [*] after the [*] for a Licensed Product by Portola or its sublicensees; or
(b) December 31, 2008 (which was paid by Portola on December 18, 2008); 

  

	 	(iv)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(v)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(vi)	within [*] after the [*] Licensed Product [*] by Portola or its sublicensees [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas
Compound, or [*] US dollars for a Licensed Product containing any Other Syk Compound. 

  

	 	(vii)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(viii)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(ix)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(x)	 Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any

  
 7 

[*] = 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. 

	 	
Astellas Compound, or [*] US dollars for a Licensed Product containing any Other Syk Compound; 

  

	 	(xi)	Within [*] after the [*] Licensed Product [*] by Portola or its sublicensees [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas
Compound, or [*] US dollars for a Licensed Product containing any Other Syk Compound; 

  

	 	(xii)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xiii)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xiv)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xv)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xvi)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xvii)	Within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xviii)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  
 8 

[*] = 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. 

	 	(xix)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xx)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xxi)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] for a Licensed
Product containing any Other Syk Compound; 

  

	 	(xxii)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound or [*] US dollars for
a Licensed Product containing any Other Syk Compound; 

  

	 	(xxiii)	within [*] after the [*] for a Licensed Product [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound or [*] US dollars for
a Licensed Product containing any Other Syk Compound; and 

  

	 	(xxiv)	within [*] after the [*], the following amount: [*] US dollars for a Licensed Product containing any Astellas Compound, or [*] US dollars for a Licensed Product
containing any Other Syk Compound. 

 Milestones due under [*] shall be paid [*]. Each of milestones [*] shall be
paid [*], upon [*]. 
  

	 	4.2	In consideration for the rights and licenses granted by Astellas to Portola herein, Portola shall make the following royalties (collectively, the “Sublicense
Royalty”) to Astellas: 

  

	 	(i)	twenty percent (20%) of any [*] payment received by Portola from a third party or its Affiliate sublicensee(s) in consideration for the grant by Portola of a
Sublicense; and 

  
 9 

[*] = 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. 

	 	(ii)	twenty percent (20%) of any [*] that is received by Portola from a third party or its Affiliate sublicensee(s) in consideration of a Sublicense solely with respect
to [*]; and 

  

	 	(iii)	[*] of [*] that is received by Portola from a third party or its Affiliate sublicensee(s) in consideration of a Sublicense solely with respect to [*].

 For the avoidance of doubt, the royalties [*] that are paid to Astellas by Portola pursuant to Sections 4.2(ii)
and 4.2(iii) above shall be solely with respect to [*] and [*], as applicable. If a Sublicense grants a third party or Affiliate sublicensee rights to [*] both [*] and [*], then the [*] received by Portola in consideration of such Sublicense shall
be allocated to each [*] and/or [*], as applicable, that is the subject of such Sublicense, with any [*] to be allocated on the basis of [*] that [*]. 
 The Sublicense Royalty received by Astellas may be [*] that [*] pursuant to Sections [*] above. In addition, any such [*] any [*] that [*] pursuant to [*]. 

For clarity, at any point in time, Portola shall pay Astellas [*], on the one hand, or [*] pursuant to Sections [*], on the other hand.

  

	 	4.3	Portola shall pay to Astellas a royalty on Net Sales made by Portola or its sublicensees in the Territory at a rate of [*] of Net Sales of each Licensed Product
containing any Astellas Compound or [*] of Net Sales of each Licensed Product containing any Other Syk Compound. 

  

	 	4.4	If royalties to a third party are paid for the practice of such third party’s intellectual property which is essential and is not reasonably circumvented for the
development and commercialization of a Licensed Product (such royalties shall be hereinafter referred to as “Third Party Royalties”), the royalties set forth in Section 4.3 hereof shall be reduced by an amount equal to [*] of
any Third Party Royalties on Net Sales of such Licensed Product; provided that in no event shall the royalties payable as set forth above be reduced to less than [*] of the royalties computed under the conditions set forth in Section 4.3 above.
For clarification, the foregoing provision in this Section 4.4 shall not apply to any other royalties payable to a third party for the use of such third party’s intellectual property, including without limitation such third party’s
proprietary manufacturing method, proprietary formulation technology and/or trademark. 

  

	 	4.5	All amounts payable hereunder by Portola shall be payable in US dollar to the bank account designated by Astellas. lf any currency conversion shall be required in
connection with the royalty payment under Section 4.3 hereof, such conversion shall be made by using the exchange rates at the closing on the last business day of a calendar quarter to which such royalty payment relates as reported in The
Wall Street Journal on the following day. 

  
 10 

[*] = 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. 

	 	4.6	Beginning with the first accrual of Net Sales on which a royalty is due hereunder, Portola shall deliver to Astellas a written report on the Net Sales of it and its
sublicensees within [*] after the end of each calendar quarter (i.e. the quarterly period ending on 31st March, 30th June, 30th September or 31st December). Such report shall include at least (i) the total of Net Sales during
such quarter, with itemization by country and presentation of the Licensed Products sold by it or its sublicensees; (ii) the calculation of royalties on a product-by-product basis; and (iii) the total royalties so calculated and due to
Astellas. Simultaneously with the delivery of each such report, Portola shall make payment to Astellas the total royalties for the period of such report. If no royalties are due, Portola shall so report. 

 

	 	4.7	Late payments shall be subject to an interest charge of [*], or maximum rate permitted by law, whichever is lower. 

 

	 	4.8	If laws or regulations require withholding by a party of any taxes imposed upon the other party on account of any royalties or milestone payments paid under this
Agreement, such taxes shall be deducted by the party who makes the payment from such payment and shall be paid by the party to the proper taxing authorities. Official receipts of payment of any withholding tax shall be secured and sent to the other
party as evidence of such payment. The parties will exercise their commercially reasonable efforts to ensure that any withholding taxes imposed are reduced as far as possible under the provisions of any applicable tax treaty.

  

	 	4.9	Portola shall, and shall cause its sublicensees to keep complete and accurate records of Net Sales in sufficient detail to enable the amounts payable under this Article
4 to be determined. Upon Astellas’s written request, Portola shall, and shall cause its sublicensees to, permit an independent accountant of Astellas, who is reasonably acceptable to it or its sublicensees as the case may be, to examine such
records no more frequently than [*] during the [*] period after the calendar quarter to which they pertain, during its or its sublicensee’s regular business hours, to the extent necessary to verify any report required under this Agreement,
provided that such examination shall in no event be repeated on any particular record. The fees and expenses of said independent accountant performing such examination shall be borne by the party requesting such examination (“Auditing
Party”). However, if an error in the amount in the payment report is discovered resulting in an underpayment of more than [*], then the party who was so audited (“Audited Party”) shall pay to the Auditing Party (i) the
reasonable fees and expenses arising from the examination of such independent accountant and (ii) any amount due and unpaid, together with interest on such amount at a rate equivalent to [*] from the date such amount was originally due, or at
the maximum rate permitted by law, whichever is lower. The Auditing Party shall cause the report of such accountant to be limited to a certificate verifying any report made or payment submitted by the Audited Party during such period but may
include, in the event the accountant shall be unable to verify the correctness of any such payment, information relating to why such payment is unverifiable. The Auditing Party shall cause such accountant to keep confidential all the information
obtained in the course of such examination. 

  
 11 

[*] = 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.	RESULTS 

  

	 	5.1	Any Results generated, discovered or invented solely by a party’s employees (“Sole Inventions”) shall be owned solely by such party and any
Results generated, discovered or invented jointly by employees of both parties (“Joint Invention”) shall be owned jointly by the parties. 

  

	 	5.2	All intellectual property covering any Sole invention shall be owned by the party which owns such Sole Invention, and such party shall own the entire right, title and
interest in and to any and all of such intellectual property. In the event that a party files patent applications covering its Sole Invention, the party shall notify the other party upon filing. [*] shall not be obligated to disclose [*] patentable
Sole Invention [*] under Section [*] before [*] such Sole Invention [*]. All intellectual property covering any Joint Invention shall be owned jointly by the parties. [*] shall be responsible for filing, prosecution and maintenance of the patent
applications covering Joint Invention in consultation with [*]. [*] shall promptly provide [*] with copies of such filings and subsequent prosecution papers. The costs of filing, prosecuting and maintaining patent applications and patents covering
jointly owned Results will be [*]. [*] shall not [*] or [*] or [*] the [*] any [*] by the [*] of the [*]. 

  

	 	5.3	Each party shall provide the other party with any manuscript pertaining to any Results of [*] and any abstract pertaining to any Results of a Licensed Compound [*],
before submission for publication or disclosure. 

  

	6.	CONFIDENTIAL INFORMATION 

  

	 	6.1	Each party hereto shall not disclose, without the prior written consent of the other party any and all information acquired from or disclosed by the other party hereto,
including without limitation to all Results and the intellectual property thereto (“Confidential Information”), to any third party, nor shall it use the Confidential Information disclosed to it except for the purposes of this
Agreement. Notwithstanding the foregoing, each party agrees to disclose the Confidential Information to its employees, its sublicensees and/or its outside contractors only on a need-to-know basis and agrees that such persons and entities shall be
bound and obligated by substantially similar provisions of confidentiality and restrictions on use as those provided herein. The obligations of the confidentiality set forth in this Article 6 shall survive this Agreement for a period of [*]
following any expiration or termination of this Agreement. Upon expiration or termination of the Agreement, each party shall return all tangible Confidential information received from the other party, provided, however, such party may retain one
copy thereof only for archival purpose and for the purpose of defending against any claims arising in connection with this Agreement or a breach thereof. 

  

	 	6.2	The obligations set forth in Section 6.1 above shall not apply to any information: 

  
 12 

[*] = 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. 

	 	(a)	which at the time of acquisition or disclosure of such information is in the public domain; or 

 

	 	(b)	which after the acquisition or disclosure of such information, becomes part of the public domain, by publication or otherwise, through no fault of the receiving party;
or 

  

	 	(c)	which at the time of acquisition or disclosure of such information, is already in the receiving party’s possession, and such possession can be properly
demonstrated by the receiving party; 

  

	 	(d)	which is rightfully made available to the receiving party from sources independent of the disclosing party, or 

 

	 	(e)	which is independently developed by the receiving party without any reference to such information. 

 

	 	6.3	The confidentiality obligations contained in this Article 6 shall not restrict the ability of each party to disclose information it receives as required (a) by
law, order or regulation of a governmental agency or a court of competent jurisdiction, or (b) by any governmental agency for purposes of obtaining approval to test or market a product, provided in either case that the receiving party shall
provide prior written notice thereof to the other party and reasonable opportunity to object to any such disclosure or to request confidential treatment thereof, and shall use reasonable efforts to secure confidential treatment of, or a protective
order, for the information so required to be disclosed. Notwithstanding any other provision of this Agreement, each party may: (i) disclose Confidential Information of the other party as necessary to file or prosecute patent application,
prosecute or defend litigation, or otherwise establish rights or enforce obligations under this Agreement, or submit regulatory filings, but only to the extent that any such disclosure is necessary, and (ii) disclose Confidential information it
receives under this Agreement to its actual or potential investors, acquirors, licensees or sublicensees, or contractors, provided that such disclosure is made under obligations of confidentiality and restrictions on use substantially similar to
those provided in this Agreement. 

  

	 	6.4	All public announcements regarding the existence or terms of this Agreement shall be coordinated between Astellas and Portola and shall be made only by written consent
of the other party, except as required by law or the applicable rules of a securities exchange. If any such announcement is so required, the party required to make such disclosure shall notify the other party in advance in writing and to disclose
only such information or terms as it reasonably deems to be so required. 

  
 13 

[*] = 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.	PATENTS 

  

	 	7.1	[*] shall have the [*] responsibility for the filing for, prosecution and maintenance of the Patents, provided however that [*] shall keep [*] reasonably informed as to
the filing, prosecution and maintenance of such Patents, provided that [*] obligation to inform [*] shall apply with respect to the [*] only for the [*]. Further, to the extent [*] the [*] in the [*] of the [*] in a manner which [*] disagrees, [*]
will, at the direction of [*] and at [*] cost, file or cause to be filed a continuation, continuation-in-part, or divisional application directed to the [*] of [*]. In the event [*] elects not to file for, prosecute, or maintain [*], [*] shall
inform [*] thereof, and at [*] request shall [*] such [*] with [*] cost [*]. In the event [*] elects not to prosecute or maintain any [*], [*] shall inform [*] thereof, and at [*] request shall [*] such [*] at [*] cost. For the purposes of this
Article 8, prosecution and maintenance of Patents shall be deemed to include, without limitation, the conduct of interferences or oppositions, and/or request for re-examinations, reissues, or extensions of the term of the Patents. As to any [*], [*]
will take such measure to [*] as agreed to by the parties in writing (including the timing of taking agreed measures), provided however that [*] shall not be liable for any result or consequence of such measure taken. 

 

	 	7.2	With regard to the [*] other than the [*] and the [*] which [*] during the term of this Agreement, [*] shall not [*] or [*] based on the [*] or [*] by [*] or [*].

  

	8.	TERM AND TERMINATION 

  

	 	8.1	This Agreement shall become effective on the Effective Date and shall remain in force on a country-by-country and product-by-product basis until (i) the expiry
date of the last-to-expire patent Controlled by Astellas or Portola covering a given Licensed Product in a given country or (ii) [*] the Launch Date of such Licensed Product in such country, whichever is later; provided that this Agreement may
be terminated partially and prematurely on a country-by-country and product-by-product basis in accordance with Sections 8.2, 8.3, 8.4 and 8.5. Portola’s milestone obligations under Section 4.1, sublicense royalty obligations under
Section 4.2, and Net Sales royalty obligations under Section 4.3 shall remain in force on a country-by-country and product-by-product basis until (a) the expiry date of the last-to-expire Patent covering a given Licensed Product in a
given country or (b) [*] the Launch Date of such Licensed Product in such country, whichever is later. 

  

	 	8.2	Portola shall have the right to terminate this Agreement at will upon [*] prior written notice to Astellas. In such case, [*] to [*], and [*] or [*], that are [*] and
[*] in [*]. 

  

	 	8.3	 Either party may terminate this Agreement forthwith upon written notice if the other party is in material breach of its obligations hereunder by causes
or reasons within its control and responsibility and has not remedied such default within [*] 

  
 14 

[*] = 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. 

	 	
after it receives a written notice requesting the correction of the default from the other party. 

  

	 	8.4	In the event all major claims of the Patents are invalidated by competent judicial or administrative authorities in the US after its issuance and no measure has been
taken to appeal against such invalidation, Portola shall have the right to terminate this Agreement upon written notice to Astellas. 

  

	 	8.5	Either party may terminate this Agreement forthwith upon written notice to the other party if such other party makes an arrangement or composition with its creditors or
presents a bankruptcy petition, or if such other party enters into liquidation (whether compulsory or voluntary), or has a receiver appointed for the whole or any part of its assets or undertakings, or has an administrator appointed to manage its
affairs, business and property, or if it takes or suffers any similar action in consequence of debt. 

  

	 	8.6	After termination of this Agreement, except for termination by [*] under Sections [*], or for clarity, by [*] under [*], Portola shall immediately take the following
measures: (a) [*], with [*] and [*] and [*] (including [*]) [*] and relating to the Licensed Products [*] the Licensed Products [*] the [*], (b) [*] the [*] in [*] or [*] such Licensed Products [*], (c) cease to develop, manufacture,
use and sell such Licensed Products [*] except for the right granted to Portola to sell its inventory of the Licensed Products under Section 8.8 and (d) [*] and [*] reasonably requested by Astellas and solely necessary for Astellas [*] to
[*] the Licensed Products [*] the [*], provided, however the measures set forth above shall be [*] for [*], including those [*] in the case of termination by [*] or [*] or [*]. Astellas shall [*] of [*] reasonably requested by Astellas pursuant to
this Section 8.6(d), including without limitation [*] for such [*]. 

  

	 	8.7	After termination of this Agreement, except for termination by [*] or [*], [*] shall [*] and [*] any [*], subject to compliance with the terms and conditions in [*]
(unless such termination occurs by reason of [*] under Section [*] or by reason of [*] pursuant to Section [*]), which shall survive termination solely with respect to [*]. 

 

	 	8.8	 Any expiration or termination of this Agreement, whether wholly or partly, will not relieve either party of any obligation or liability accrued
hereunder prior to such expiration or termination, including the obligation to pay applicable fees and royalties. The licenses granted to its sublicensees under this Agreement [*] upon the termination of this Agreement. In the event this Agreement
is terminated for any reason, Portola shall provide Astellas with a written report on inventory of all Licensed Products that Portola has in process of manufacture, in use or in stock and Portola shall have the right to sell or otherwise dispose of
such Licensed Products, subject to the payment to Astellas of royalties pursuant to Article 4 hereof. In the event this Agreement is terminated, whether wholly or partially, upon Astellas’ request, Portola shall use reasonable efforts to
cooperate with 

  
 15 

[*] = 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. 

	 	
Astellas [*] with regard to the Licensed Products, including without limitation [*] the Licensed Products, the Licensed Compounds and/or [*]. 

 

	 	8.9	Upon expiration of this Agreement, as to a Licensed Product in a country, the license granted to each party hereunder shall become a fully paid-up, perpetual license.

  

	 	8.10	Unless expressly stated otherwise herein, the obligations and rights of the parties under Articles [*], and Sections [*] and this 8.10, shall survive the termination of
this Agreement. 

  

	9.	INFRINGEMENT 

  

	 	9.1	Both parties shall promptly notify the other party of any infringement, whether actual or suspected, known to it of any of the Patents by any third party in the
Territory and shall provide the other party with any available evidence of such infringement. Portola shall have the first right (itself or through others), at its sole option, to bring any suit to enforce the Patents, and/or to defend any
declaratory judgment action, at its own expense, as it may deem necessary or appropriate to terminate or prevent such infringement in the Territory. Astellas shall have the right to participate in any action taken by Portola with counsel of
Astellas’ own choice at its own expense. If Portola elects not to bring any suit or to take any action within [*] after written notice from Astellas to do so, Astellas shall have the right to bring any suit or take any action at Astellas’
expense, as Astellas may deem necessary or appropriate to terminate or prevent such infringement. Portola shall have the right to participate in any action taken by Astellas with counsel of Portola’s own choice at its own expense. Each party
shall provide all reasonable assistance to the other party at the request and expense of the other party. The [*] or [*] shall [*] any recovery award or settlement payment obtained as a result of its suit or action, after first allowing each party
to recover its costs of such suit or action. 

  

	 	9.2	Should either party or its sublicensees, distributors or other customers be sued by a third party charging infringement of patent rights owned or otherwise controlled
by such third party with respect to the manufacture, use, distribution or sale of any Licensed Product, such party shall be solely responsible to defend against any such claim, suit, action, or other proceeding, provided however, the other party
may, at its sole discretion, cooperate with such party at such party’s cost as such party may reasonably request for such proceeding. 

  

	10.	INDEMNIFICATION 

  

	 	10.1	 Portola shall indemnify, defend and hold Astellas and its sublicensees, and their respective directors, officers and employees, and the successors and
assigns of any of the foregoing (collectively “Astellas Indemnitees”) harmless from and against any and all liabilities, damages, losses, costs and expenses, including without

  
 16 

[*] = 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. 

	 	
limitation reasonable attorney fees and other expenses of litigation, (any of the foregoing, a “Loss”) suffered or incurred by any Astellas Indemnitee as a result of any claims,
actions, suits, demands or proceedings brought by third parties (any of the foregoing a “Claim”) arising from or occurring as a result of (i) the exercise or practice by Portola or its sublicensees of the rights and licenses
granted to Portola under this Agreement, (ii) any defect of any Licensed Product or Licensed Compound supplied by Portola or its sublicensees, (iii) Portola’s breach of any warranties, representations, or other obligations under this
Agreement, or (iv) any negligence or willful misconduct of Portola or its sublicensees, provided however, if such Loss is caused partially or solely by negligence or willful misconduct of any Astellas Indemnitee or the breach of this Agreement
by Astellas, Portola shall not be obligated under this Section 10.1 to the extent that such Loss has resulted therefrom. 

  

	 	10.2	Astellas shall indemnify, defend and hold Portola and its sublicensees and their respective directors, officers and employees, and the successor and assigns of any of
the foregoing (collectively “Portola Indemnitees”) harmless from and against any and all Claims arising from or occurring as a result of (i) the exercise or practice by Astellas or its sublicensees of the rights acquired or
retained by Astellas under this Agreement, (ii) any defect of the Licensed Products or Licensed Compounds supplied by Astellas or its sublicensees, (iii) Astellas’ breach of any warranties, representations, or other obligations under
this Agreement or (iv) any negligence or willful misconduct of Astellas or its sublicensees; provided, however, if such Loss is caused partially or solely by negligence or willful misconduct of any Portola Indemnitee or the breach of this
Agreement by Portola, Astellas shall not be obligated under this Section 10.2 to the extent that such Loss has resulted therefrom. 

  

	 	10.3	In the event that either party intends to claim indemnification under this Article 10, it shall promptly notify the other party in writing of such alleged Claim. The
indemnifying party shall have the right to control the defense thereof with counsel of its choice; provided, however, that any indemnified party shall have the right to retain its own counsel at its own expense. The indemnified party shall cooperate
with the indemnifying party and its legal representatives in the investigation of any Claim or Loss covered by this Article 10. The indemnified party shall not, except at its own cost, voluntarily make any payment or incur any expense with respect
to any Claim or related suit without the prior written consent of the indemnifying party, which such party shall not be required to give. 

  

	11.	LIABILITY/ INSURANCE 

  

	 	11.1	 UNLESS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATIONS NOR EXTENDS ANY WARRANTIES OF ANY KIND, EITHER EXPRESS
OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF NON-INFRINGEMENT OF ANY THIRD PARTY INTELLECTUAL PROPERTY RIGHTS OR OTHER RIGHTS, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND VALIDITY WITH RESPECT TO THE

  
 17 

[*] = 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. 

	 	
PATENTS LICENSED HEREUNDER. NOR DOES A PARTY MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED BY THE OTHER PARTY WITH RESPECT TO THE PATENTS LICENSED HEREUNDER. EXCEPT FOR BREACHES OF A
PARTY’S OBLIGATIONS UNDER ARTICLE 6, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF
LIABILITY, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTHING IN THIS SECTION 11.1 IS INTENDED TO LIMIT EITHER PARTY’S OBLIGATIONS UNDER ARTICLE 10. 

 

	 	11.2	Each party shall, at its sole cost and expense, obtain and keep in force sufficient comprehensive general liability insurance, including any applicable self-insurance
coverage, with bodily injury, death and property damage including contractual liability and product liability coverage. Such insurance cover shall be maintained with reputable and financially secure insurance carriers with an aggregate coverage of
not less than [*]. The parties shall promptly after the Effective Date and thereafter, upon request, provide each other with copies of the then current insurance policies and associated documentation. 

 

	12.	REPRESENTATIONS AND WARRANTIES 

  

	 	12.1	Mutual Representations and Warranties. As of the Effective Date, each party hereby represents, warrants and covenants (as applicable) to the other party as follows:

  

	 	(a)	Corporate existence and power: It is a company or corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is
incorporated, and has full corporate power and authority and the legal right to own and operate its property and assets and to carry on its business as it is now being conducted and as contemplated in this Agreement, including, without limitation,
the right to transfer the rights granted hereunder; 

  

	 	(b)	Authority and Binding Agreement: As of the Effective Date, (i) it has the corporate power and authority and the legal right to enter into this Agreement and
perform its obligations hereunder; (ii) it has taken all necessary corporate action on its part required to authorize the execution and delivery of the Agreement and the performance of its obligations hereunder; and (iii) the Agreement has
been duly executed and delivered on behalf of such party, and constitutes a legal, valid and binding obligation of such party that is enforceable against it in accordance with its terms; and 

  
 18 

[*] = 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. 

	 	(c)	No conflict: It has not entered, and shall not enter, into any agreement with any third party that is in conflict with the rights granted to the other party under this
Agreement, and has not taken and shall not take any action that would in any way prevent it from granting the rights granted to the other party under this Agreement, or that would otherwise materially conflict with or adversely affect the rights
granted to the other party under this Agreement. Its performance and execution of this Agreement does not and will not result in a breach of any other contract to which it is a party. 

 

	 	(d)	No Debarment. In the course of its research, development or manufacture of Licensed Products, to its knowledge and without any undertaking to make such determination,
it has not used, and/or during the term of this Agreement will not use in performing any activities pursuant to this Agreement, any employee or consultant who is or has been debarred by the FDA or equivalent regulatory authorities or who is the
subject of debarment proceedings by the FDA or equivalent regulatory authorities. 

  

	 	12.2	Astellas Representations. As of the Effective Date, Astellas represents, warrants and covenants to Portola: 

 

	 	(a)	Patents. During the term of this Agreement, Astellas shall not take any actions that materially diminish the rights under Know-How or the [*] Patents. [*], Astellas
shall not take any actions that materially diminish the rights of the STATE Patents. For the avoidance of doubt, Astellas’ good faith action in the prosecution and maintenance of the Patents that may result in any rejection of or amendment,
restriction, limitation or other change in any claim of the Patents shall not be deemed as an action that materially diminish the rights under the Patents. 

 

	 	(b)	No Liens on Patents. The Patents and Know-how are free and clear of any liens and encumbrances except for any minor liens and encumbrances that arise in the ordinary
course of business and that do not materially detract from Astellas’ ability to grant licenses or rights thereunder to Portola as provided herein. 

  

	 	(c)	Third Party Licenses. Astellas has not granted any rights to any third party under the Patents or Know-How that would conflict or interfere with the rights granted to
Portola under this Agreement. 

  

	 	(d)	Non-infringement of Third Party Rights. Astellas has no actual knowledge of any patent rights owned or controlled by any third party (other than the Patents) that may
be infringed by the manufacture, use or sale of Astellas Compounds. 

  
 19 

[*] = 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. 

	 	(e)	Non-Infringement of Patents by Third Parties. Astellas has no actual knowledge of any activities by third parties that would constitute infringement or misappropriation
of the Patents, other than those disclosed to Portola prior to the Effective Date. 

  

	 	12.3	No Other Representations. The express representations and warranties stated in this Article 12 are in lieu of all other representations and warranties, express,
implied, or statutory, including without limitation, warranties of merchantability, fitness for a particular purpose, non-infringement or non-misappropriation of third party intellectual property rights. 

 

	 	12.4	Material Information on [*]. Astellas has provided Portola with the list of the literature which Astellas has reviewed in its own prior-art search conducted for [*]
before national filing in Japan and international filing under PCT thereof. [*], if Astellas becomes aware of any material information that will threaten the patentability, validity, or enforceability of the [*], Astellas shall promptly notify
Portola in writing of such material information. 

  

	13.	GENERAL 

  

	 	13.1	This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York, other than those provisions concerning
conflicts of law. 

  

	 	13.2	All disputes or differences arising between the parties, out of or in connection with this Agreement, whether based on contract, tort, or other legal theory which is
not settled shall be finally settled under the Rules of Arbitration of JAMS, under the then-current JAMS Comprehensive Arbitration Rules and Procedures. The arbitration shall be held in [*]. The decisions of the arbitrator(s) shall be final and
binding on both parties hereto. Notwithstanding the foregoing, any disputes regarding the scope, validity, enforceability or inventorship of any patents or patent applications shall be submitted for final resolution by a court of competent
jurisdiction. 

  

	 	13.3	Each party shall comply with all governmental requests directed to it in connection with this Agreement and will provide all information and assistance necessary to
comply with said request, and any material failure to do so shall be considered a material breach of this Agreement. 

  

	 	13.4	It is expressly agreed that Portola and Astellas shall be independent contractors and that the relationship between the parties shall not constitute a partnership or
agency of any kind. Neither Portola nor Astellas shall have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on the other party, without the prior written consent of the
other party. 

  
 20 

[*] = 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. 

	 	13.5	This Agreement may not be assigned by either party without the prior written consent of the other party, except to a party that succeeds to all or substantially all of
such party’s business or assets relating to this Agreement whether by sale, merger, operation of law or otherwise; provided that such assignee or transferee promptly agrees in writing to be bound by the terms and conditions of this Agreement.
Any attempted assignment not in compliance with this Section 13.5 shall be null and void. 

  

	 	13.6	In the event either party hereto is prevented from or delayed in the performance of any of its obligations hereunder by reason of acts of God, war, strikes, riots,
storms, fires, terrorist act, blockade, revolution, civil commotion, public demonstration, sabotage, act of vandalism, prevention from or hindrance in obtaining in any way materials energy or other supplies, explosion, directive, action or
requirement of a regulatory or governmental authority governing either party or any other cause whatsoever beyond the reasonable control of the party, the party so prevented or delayed shall be excused from the performance of any such obligation to
the extent and during the period of such prevention or delay, provided it uses reasonable efforts to overcome such prevention or delay. 

  

	 	13.7	A waiver, express or implied, by either Portola or Astellas of any right under this Agreement or of any failure to perform or breach hereof by the other party hereto
shall not constitute or be deemed to be a waiver of any other right hereunder or of any other failure to perform or breach hereof by such other party, whether of a similar or dissimilar nature thereto. No waiver shall be effective unless made in
writing with specific reference to the relevant provision(s) of this Agreement and signed by a duly authorized representative of the party granting the waiver. 

 

	 	13.8	Headings included herein are for convenience only, do not form a part of this Agreement and shall not be used in any way to construe or interpret this Agreement.

  

	 	13.9	If any provision of this Agreement shall be found by a court to be void, invalid or unenforceable, the same shall be reformed to comply with applicable law or stricken
if not so conformable, so as not to affect the validity or enforceability of the remainder of this Agreement. 

  

	 	13.10	 This Agreement, including all exhibits hereto, constitutes the entire understanding and agreement between the parties with respect to the subject
matter hereof and supersedes any and all prior negotiations, representations, agreements, and understandings, written or oral, that the parties may have reached with respect to the subject matter hereof. For clarity, the Confidentiality Agreement
and Material Transfer Agreement shall be superseded by this Agreement, and all “Confidential Information” (as defined in the Confidentiality Agreement and the Material Transfer Agreement) will be deemed to have been disclosed pursuant to
this Agreement (and therefore protected under Article 6). For additional clarity, this Agreement amends and restates the Original Agreement. The Original Agreement shall have governed the rights between the parties prior to the Effective Date and

  
 21 

[*] = 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. 

	 	
this Agreement shall govern the rights between the parties on and after the Effective Date. No agreements altering or supplementing the terms hereof may be made except by means of a written
document signed by the duly authorized representatives of each of the parties hereto. 

  

	 	13.11	Any notice given under this Agreement shall be in writing and sent to the respective party at such party’s address as follows: 

 

			
	if to Astellas, to:	  	Astellas Pharma Inc.
		  	3-11, Nihonbashi-Honcho 2-chome
		  	Chuo-ku, Tokyo 103-8411, Japan
		  	Attention:       Vice President
		  	                        Legal Department
		  	Fax:+81-3-3244-5811
		
	if to Portola, to:	  	Portola Pharmaceuticals, Inc.
		  	270 East Grand Avenue, Suite 22
		  	South San Francisco, CA 94080
		  	USA.
		  	Attention:       Executive Vice President
		  	Fax:+1-650-615-9023

 Any notice shall be deemed to have been given (1) when delivered in person, (2) three business
days after deposit with an internationally recognized overnight courier service, (3) seven business days after being deposited in the United States or Japanese mail postage prepaid, first class, registered or certified air-mail or (4) the
business day on which it is sent and received by facsimile transmission. 
  

	 	13.12	Each of Astellas and Portola acknowledge that their obligations under this Agreement may be performed by their respective Affiliates. Notwithstanding any delegation of
obligations under this Agreement by a party to its Affiliate, each party shall remain primarily liable and responsible for the performance of all of its obligations under this Agreement and for causing its Affiliates to act in a manner consistent
herewith. Wherever in this Agreement the parties delegate responsibility to their Affiliates or local operating entities, the parties agree that such entities shall not make decisions inconsistent with this Agreement, amend the terms of this
Agreement or act contrary to its terms in any way. If this Agreement is assigned by either party to a permitted assignee pursuant to Section 13.5, the license rights granted by such assigning party under this Agreement shall not include any of
such permitted assignee’s patents, know-how or other intellectual property rights in existence just prior to the effective date of such assignment. 

  

	 	13.13	This Agreement may be executed in two (2) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the
same instrument. Counterparts may be signed and delivered by facsimile, each of which will be binding when sent. 

Signature page follows 

  
 22 

[*] = 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. 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute this
Agreement as of the Effective Date. 
  

									
	Portola Pharmaceuticals, Inc.	 		 	Astetlas Pharma Inc.
					
	By:	 	 /s/ William Lis
	 		 	By:	 	 /s/ Chihiro Yokota

	Name:	 	 William Lis
	 		 	Name:	 	 Chihiro Yokota

	Title:	 	 C.E.O.
	 		 	Title:	 	 Vice President, Licensing & Alliances

  
 [*] = 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 A1 
 [*] Patents 
  

	1.	[*] Patent: 

  

					
	 Country
	 	 Application No (Date)
	 	 Patent No (Issued Date)

	 [*]
	 	[*]	 	[*]

  

	2.	[*] Patent: 

  

					
	 Country
	 	 Application No (Date)
	 	 Patent No (Issued Date)

	 [*]
	 	[*]	 	[*]

  
 [*] = 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 A2 
 [*] Patents 
 [*] Patent: 

 

					
	 Country
	 	 Application No (Date)
	 	 Patent No (Issued Date)

	 [*]
	 	[*]	 	[*]

  
 [*] = 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 B 
 Exemplary List of Indications in the Original 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.

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