Document:

EX-4.2

 Exhibit 4.2 

DESCRIPTION OF COMMON STOCK 

Our authorized capital stock consists of 100,000,000 shares of common stock, $0.0001 par value per share, and 10,000,000 shares of preferred
stock, $0.0001 par value per share. A description of material terms and provisions of our certificate of incorporation and bylaws affecting the rights of holders of our capital stock is set forth below. The description is intended as a summary, and
is qualified in its entirety by reference to our certificate of incorporation and the bylaws. 
 Common stock 

Voting Rights. Each holder of common stock is entitled to one vote for each share of common stock held on all matters submitted to
a vote of the stockholders, including the election of directors. The certificate of incorporation and by-laws do not provide for cumulative voting rights in connection with election of directors
unless, at the time of such election, we are subject to Section 2115(b) of the California General Corporation Law. The affirmative vote of holders of 66 2/3% of the voting power of all of the then-outstanding shares of capital stock, voting as
a single class, will be required to amend certain provisions of our amended and restated certificate of incorporation, including provisions relating to amending our amended and restated bylaws, and removal of directors. 

Dividends. Subject to preferences that may be applicable to any then outstanding preferred stock, the holders of outstanding
shares of common stock may receive dividends, if any, as may be declared from time to time by the Board of Directors out of legally available funds. We have never issued a dividend on shares of its common stock and has no intention to do so in the
future. 
 Liquidation. In the event we of liquidate, dissolve or wind up, the assets legally available for distribution shall
be distributed ratably to the holders of shares of common stock and preferred stock, subject to the satisfaction of any liquidation preference granted to the holders of any outstanding shares of preferred stock. 

Rights and Preferences. Holders of common stock have no preemptive, conversion or subscription rights, and there are no redemption
or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock
that we may designate and issue in the future. 
 Fully Paid and Nonassessable. All outstanding shares of common stock are fully
paid and nonassessable. 
 Anti-takeover effects of provisions of our certificate of incorporation and bylaws and Delaware law 

Certificate of incorporation and bylaws. Our amended and restated certificate of incorporation and amended and restated bylaws, include
a number of provisions that may deter or impede hostile takeovers or changes of control or management. These provisions include: 

Issuance of undesignated preferred stock. Our Board of Directors has the authority, without further action by the stockholders, to
issue up to 10,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by our Board of Directors. The existence of authorized but unissued shares of preferred stock enables
our Board of Directors to make it more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise. 

Board of Directors vacancies. Our amended and restated certificate of incorporation and amended and restated bylaws authorize only
our Board of Directors to fill vacant directorships. In addition, the number of directors constituting our Board of Directors may be set only by resolution adopted by a majority vote of our entire Board of Directors. These provisions prevent a
stockholder from increasing the size of our Board of Directors and gaining control of our Board of Directors by filling the resulting vacancies with its own nominees. 

Stockholder action; special meetings of stockholders. Our amended and restated certificate of incorporation provides that our
stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. Stockholders will not be permitted to cumulate their votes for the election of directors unless required by applicable
law. Our amended and restated bylaws provide that only the chairman of our Board of Directors, chief executive officer or a majority of our Board of Directors may call special meetings of our stockholders. 

 Advance notice requirements for stockholder proposals and director
nominations. Our amended and restated bylaws provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting
of stockholders. Our amended and restated bylaws also specify certain requirements as to the form and content of a stockholder’s notice. These provisions may make it more difficult for our stockholders to bring matters before our annual meeting
of stockholders or to nominate directors at annual meetings of stockholders. 
 We designed these provisions to enhance the likelihood of
continued stability in the composition of our Board of Directors and its policies, to discourage certain types of transactions that may involve an actual or threatened acquisition of us, and to reduce our vulnerability to an unsolicited acquisition
proposal. We also designed these provisions to discourage certain tactics that may be used in proxy fights. However, these provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they
may also reduce fluctuations in the market price of our shares that could result from actual or rumored takeover attempts. 
 Section 203 of the
Delaware General Corporation Law 
 We are subject to Section 203 of the DGCL, which prohibits a Delaware corporation from engaging
in a business combination with any interested stockholder for a period of three years following the date the person became an interested stockholder, with the following exceptions: 

 

	 	•	 	 before such date, the Board of Directors of the corporation approved either the business combination or the
transaction that resulted in the stockholder becoming an interested holder; 

  

	 	•	 	 upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the
interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the
interested stockholder) those shares owned (a) by persons who are directors and also officers and (b) pursuant to employee stock plans in which employee participants do not have the right to determine confidentially whether shares held
subject to the plan will be tendered in a tender or exchange offer; and 

  

	 	•	 	 on or after such date, the business combination is approved by the Board of Directors and authorized at an annual
or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder. 

In general, Section 203 of the DGCL defines business combination to include the following: 

 

	 	•	 	 any merger or consolidation involving the corporation and the interested stockholder; 

 

	 	•	 	 any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the
interested stockholder; 

  

	 	•	 	 subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any
stock of the corporation to the interested stockholder; 

  

	 	•	 	 any transaction involving the corporation that has the effect of increasing the proportionate share of the stock
or any class or series of the corporation beneficially owned by the interested stockholder; and 

  

	 	•	 	 the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other
financial benefits by or through the corporation. 

 Section 203 of the DGCL defines an “interested stockholder” as an entity or
person who, together with the entity’s or person’s affiliates and associates, beneficially owns, or is an affiliate of the corporation and within three years prior to the time of determination of interested stockholder status did own, 15%
or more of the outstanding voting stock of the corporation. A Delaware corporation may “opt out” of these provisions with an express provision in its certificate of incorporation. We have not opted out of these provisions, which may as a
result, discourage or prevent mergers or other takeover or change of control attempts of us.EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 
 This
Registration Rights Agreement (this “Agreement”) is made as of March 16, 2020 by and among Zymeworks Inc., a British Columbia corporation (the “Company”), and the persons listed on the attached
Schedule A who are signatories to this Agreement (collectively, the “Investors”). Unless otherwise defined herein, capitalized terms used in this Agreement have the respective meanings ascribed to them in
Section 1. 
 RECITALS 

WHEREAS, the Company and the Investors wish to provide for certain arrangements with respect to the registration of the Registrable Securities (as
defined below) by the Company under the Securities Act (as defined below). 
 NOW, THEREFORE, in consideration of the mutual promises and covenants
set forth herein, and other consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. 

Definitions 

1.1.    Certain Definitions. In addition to the terms defined elsewhere in this Agreement, as used in this Agreement, the following
terms have the respective meanings set forth below: 
 (a)    “Board” shall mean the Board of Directors of the Company.

 (b)    “Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time
administering the Securities Act. 
 (c)    “Common Shares” shall mean the common shares of the Company, no par value.

 (d)    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar successor federal
statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 
 (e)    “Other
Securities” shall mean securities of the Company, other than Registrable Securities (as defined below). 

(f)    “Person” shall mean any individual, partnership, corporation, company, association, trust, joint venture, limited
liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

(g)    “Registrable Securities” shall mean the Common Shares and any Common Shares issued or issuable upon the exercise
or conversion of any other securities (whether equity, debt or otherwise) of the Company now owned or hereafter acquired by any of the Investors. Registrable Securities shall cease to be Registrable Securities upon the earliest to occur of the
following events: (i) such Registrable Securities have been sold pursuant to an effective 

 
Registration Statement; (ii) such Registrable Securities have been sold by the Investors pursuant to Rule 144 (or other similar rule), (iii) at any time after any of the Investors become an
affiliate of the Company, such Registrable Securities may be resold by the Investor holding such Registrable Securities without limitations as to volume or manner of sale pursuant to Rule 144; or (iv) ten (10) years after the date of this
Agreement. For purposes of this definition, in order to determine whether an Investor is an “affiliate” (as such term is defined and used in Rule 144, and including for determining whether volume or manner of sale limitations of Rule 144
apply) the parties will assume that all convertible securities (whether equity, debt or otherwise) have been converted into Common Shares. 

(h)    The terms “register,” “registered” and “registration” shall refer to a
registration effected by preparing and filing a Registration Statement in compliance with the Securities Act, and such Registration Statement becoming effective under the Securities Act. 

(i)    “Registration Expenses” shall mean all expenses incurred by the Company in effecting any registration pursuant to
this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, up to $50,000 of reasonable legal expenses of one special counsel for
Investors (if different from the Company’s counsel and if such counsel is reasonably approved by the Company) in connection with the preparation and filing of the Resale Registration Shelf (as defined below), and up to $50,000 of reasonable
legal expenses of one special counsel for Investors (if different from the Company’s counsel and if such counsel is reasonably approved by the Company) per underwritten public offering, blue sky fees and expenses, and expenses of any regular or
special audits incident to or required by any such registration, but shall not include Selling Expenses. 
 (j)    “Registration
Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the Securities Act, including the related prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement as may be necessary to comply with applicable securities laws other than a registration
statement (and related prospectus) filed on Form S-4, Form F-4, Form F-10 (if such form is used in connection with a business
combination transaction (as defined in Rule 165 of the Securities Act)) or Form S-8 or any successor forms thereto. 

(k)    “Rule 144” shall mean Rule 144 as promulgated by the Commission under the Securities Act, as such rule may be
amended from time to time, or any similar successor rule that may be promulgated by the Commission. 
 (l)    “Securities
Act” shall mean the Securities Act of 1933, as amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(m)    “Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale of
Registrable Securities, the fees and expenses of any legal counsel (except as provided in the definition of “Registration Expenses”) and any other advisors any of the Investors engage and all similar fees and commissions relating to the
Investors’ disposition of the Registrable Securities. 

  
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 Section 2. 

Resale Registration Rights 

2.1.    Resale Registration Rights. 

(a)    At any time subsequent to April 22, 2020, following demand by any Investor the Company shall file with the Commission a
Registration Statement on Form S-3, F-3 or F-10 (except if the Company is not then eligible to register for resale the
Registrable Securities on Form S-3, F-3 or F-10, in which case such registration shall be on another appropriate form in
accordance with the Securities Act) covering the resale of the Registrable Securities by the Investors (the “Resale Registration Shelf”), and the Company shall file such Resale Registration Shelf as promptly as reasonably
practicable following such demand, and in any event within sixty (60) days of such demand. Such Resale Registration Shelf shall include a “final” prospectus, including the information required by Item 507 of Regulation S-K, as applicable, of the Securities Act, as provided by the Investors in accordance with Section 2.7. Notwithstanding the foregoing, before filing the Resale Registration Shelf, the Company shall furnish to
the Investors a copy of the Resale Registration Shelf and afford the Investors a reasonable opportunity to review and comment on the Resale Registration Shelf. The Company’s obligation pursuant to this Section 2.1(a)
is conditioned upon the Investors providing the information contemplated in Section 2.7 in a timely manner. 

(b)    The Company shall use its reasonable best efforts to cause the Resale Registration Shelf and related prospectuses to become
effective as promptly as practicable after filing. The Company shall use its reasonable best efforts to cause such Registration Statement to remain effective under the Securities Act until the earlier of the date (i) all Registrable Securities
covered by the Resale Registration Shelf have been sold or may be sold freely without limitations or restrictions as to volume or manner of sale pursuant to Rule 144 or (ii) all Registrable Securities covered by the Resale Registration Shelf
otherwise cease to be Registrable Securities pursuant to the definition of Registrable Securities. The Company shall promptly, and in any event within two (2) business days after the Company confirms effectiveness of the Resale Registration
Shelf with the Commission, notify the Investors of the effectiveness of the Resale Registration Shelf. 
 (c)    Notwithstanding
anything contained herein to the contrary, the Company shall not be obligated to effect, or to take any action to effect, a registration pursuant to Section 2.1(a): 

(i)    if the Company has and maintains an effective Registration Statement on Form S-3ASR or Form
F-3ASR that provides for the resale of an unlimited number of securities by selling shareholders (a “Company Registration Shelf”); 

(ii)    during the period forty-five (45) days prior to the Company’s good faith estimate of the date of filing of a Company
Registration Shelf; or 
 (iii)    if the Company has caused a Registration Statement to become effective pursuant to this
Section 2.1 during the prior twelve (12) month period. 

  
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 (d)    If the Company has a Company Registration Shelf in place at any time in which the
Investors make a demand pursuant to Section 2.1(a), the Company shall file with the Commission, as promptly as practicable, and in any event within fifteen (15) business days after such demand, a “final”
prospectus supplement to its Company Registration Shelf covering the resale of the Registrable Securities by the Investors (the “Prospectus”); provided, however, that the Company shall not be obligated to file more
than one Prospectus pursuant to this Section 2.1(d) in any six month period to add additional Registrable Securities to the Company Registration Shelf that were acquired by the Investors other than directly from the Company
or in an underwritten public offering by the Company. The Prospectus shall include the information required under Item 507 of Regulation S-K of the Securities Act, which information shall be provided by the
Investors in accordance with Section 2.7. Notwithstanding the foregoing, before filing the Prospectus, the Company shall furnish to the Investors a copy of the Prospectus and afford the Investors a reasonable opportunity to
review and comment on the Prospectus. 
 (e)    Deferral and Suspension. At any time after being obligated to file a Resale
Registration Shelf or Prospectus, or after any Resale Registration Shelf has become effective or a Prospectus filed with the Commission, the Company may defer the filing of or suspend the use of any such Resale Registration Shelf or Prospectus, upon
giving written notice of such action to the Investors with a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board, the filing or use of any such Resale Registration Shelf or Prospectus
covering the Registrable Securities would be seriously detrimental to the Company or its shareholders at such time and that the Board concludes, as a result, that it is in the best interests of the Company and its shareholders to defer the filing or
suspend the use of such Resale Registration Shelf or Prospectus at such time. The Company shall have the right to defer the filing of or suspend the use of such Resale Registration Shelf or Prospectus for a period of not more than one hundred twenty
(120) days from the date the Company notifies the Investors of such deferral or suspension; provided that the Company shall not exercise the right contained in this Section 2.1(e) more than once in any twelve
month period. In the case of the suspension of use of any effective Resale Registration Shelf or Prospectus, the Investors, immediately upon receipt of notice thereof from the Company, shall discontinue any offers or sales of Registrable Securities
pursuant to such Resale Registration Shelf or Prospectus until advised in writing by the Company that the use of such Resale Registration Shelf or Prospectus may be resumed. In the case of a deferred Prospectus or Resale Registration Shelf filing,
the Company shall provide prompt written notice to the Investors of (i) the Company’s decision to file or seek effectiveness of the Prospectus or Resale Registration Shelf, as the case may be, following such deferral and (ii) in the
case of a Resale Registration Shelf, the effectiveness of such Resale Registration Shelf. In the case of either a suspension of use of, or deferred filing of, any Resale Registration Shelf or Prospectus, the Company shall not, during the pendency of
such suspension or deferral, be required to take any action hereunder (including any action pursuant to Section 2.2 hereof) with respect to the registration or sale of any Registrable Securities pursuant to any such Resale
Registration Shelf, Company Registration Shelf or Prospectus. 
 (f)    Other Securities. Subject to
Section 2.2(e) below, any Resale Registration Shelf or Prospectus may include Other Securities, and may include securities of the Company being sold for the account of the Company; provided such Other Securities are
excluded first from such Registration Statement in order to comply with any applicable laws or request from any 

  
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government entity, the New York Stock Exchange, the Toronto Stock Exchange or any applicable listing agency. For the avoidance of doubt, no Other Securities may be included in an underwritten
offering pursuant to Section 2.2 without the consent of the Investors. 
 2.2.    Sales and Underwritten
Offerings of the Registrable Securities. 
 (a)    Notwithstanding any provision contained herein to the contrary, at any time
subsequent to April 22, 2020, the Investors, collectively, shall and subject to the limitations set forth in this Section 2.2, be permitted one underwritten public offering per calendar year, but no more than three
underwritten public offerings in total, to effect the sale or distribution of Registrable Securities. 
 (b)    If the Investors intend
to effect an underwritten public offering pursuant to a Resale Registration Shelf or Company Registration Shelf to sell or otherwise distribute Registrable Securities, they shall so advise the Company and provide as much notice to the Company as
reasonably practicable (and in any event not less than fifteen (15) business days prior to the Investors’ request that the Company file a prospectus supplement to a Resale Registration Shelf or Company Registration Shelf). 

(c)    In connection with any offering initiated by the Investors pursuant to this Section 2.2 involving an
underwriting of shares of Registrable Securities, the Investors shall be entitled to select the underwriter or underwriters for such offering, subject to the consent of the Company, such consent not to be unreasonably withheld, conditioned or
delayed. 
 (d)    In connection with any offering initiated by the Investors pursuant to this Section 2.2
involving an underwriting of shares of Registrable Securities, the Company shall not be required to include any of the Registrable Securities in such underwriting unless the Investors (i) enter into an underwriting agreement, in customary
form, with the underwriter or underwriters, (ii) accept customary terms in such underwriting agreement with regard to representations and warranties relating to ownership of the Registrable Securities and authority and power to enter into such
underwriting agreement and (iii) complete and execute all questionnaires, powers of attorney, custody agreements, indemnities and other documents as may be requested by such underwriter or underwriters. Further, the Company shall not be
required to include any of the Registrable Securities in such underwriting if (Y) the underwriting agreement proposed by the underwriter or underwriters contains representations, warranties or conditions that are not reasonable in light of the
Company’s then-current business or (Z) the underwriter, underwriters or the Investors require the Company to participate in any marketing, road show or comparable activity that may be required to complete the orderly sale of shares by the
underwriter or underwriters. 
 (e)    If the total amount of securities to be sold in any offering initiated by the Investors pursuant
to this Section 2.2 involving an underwriting of shares of Registrable Securities exceeds the amount that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company
shall be required to include in the offering only that number of such securities, including Registrable Securities (subject in each case to the cutback provisions set forth in this Section 2.2(e)), that the underwriters and
the Company determine in their sole discretion shall not jeopardize the success of the offering. If the underwritten public offering has 

  
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been requested pursuant to Section 2.2(a) hereof, the number of shares that are entitled to be included in the registration and underwriting shall be allocated in the
following manner: (a) first, shares of Company equity securities that the Company desires to include in such registration shall be excluded and (b) second, Registrable Securities requested to be included in such registration
by the Investors shall be excluded. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round down the number of shares allocated to any of the Investors to the nearest 100 shares. 

2.3.    Fees and Expenses. All Registration Expenses incurred in connection with registrations pursuant to this Agreement shall be
borne by the Company. All Selling Expenses relating to securities registered on behalf of the Investors shall be borne by the Investors. 

2.4.    Registration Procedures. In the case of each registration of Registrable Securities effected by the Company pursuant to
Section 2.1 hereof, the Company shall keep the Investors advised as to the initiation of each such registration and as to the status thereof. The Company shall use its reasonable best efforts, within the limits set forth in
this Section 2.4, to: 
 (a)    prepare and file with the Commission such amendments and supplements to such
Registration Statement and the prospectuses used in connection with such Registration Statement as may be necessary to keep such Registration Statement effective and current and comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration Statement; 
 (b)    furnish to the Investors such numbers of copies of a
prospectus, including preliminary prospectuses, in conformity with the requirements of the Securities Act, and such other documents as the Investors may reasonably request in order to facilitate the disposition of Registrable Securities; 

(c)    use its reasonable best efforts to register and qualify the Registrable Securities covered by such Registration Statement under
such other securities or blue sky laws of such jurisdictions in the United States as shall be reasonably requested by the Investors, if required by such laws, provided that the Company shall not be required in connection therewith or as a condition
thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (d)    in
the event of any underwritten public offering, and subject to Section 2.2(d), enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such
offering and take such other usual and customary action as the Investors may reasonably request in order to facilitate the disposition of such Registrable Securities; 

(e)    notify the Investors at any time when a prospectus relating to a Registration Statement covering any Registrable Securities is
required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements therein not misleading (in light of the circumstances in which they were made). The Company shall use its 

  
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reasonable best efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading (in light of the circumstances in which they were made); 

(f)    provide a transfer agent and registrar for all Registrable Securities registered pursuant to such Registration Statement and, if
required, a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(g)    if requested by an Investor, use reasonable best efforts to cause the Company’s transfer agent to remove any restrictive
legend from any Registrable Securities, within two business days following such request; 
 (h)    cause to be furnished, at the request
of the Investors, on the date that Registrable Securities are delivered to underwriters for sale in connection with an underwritten offering pursuant to this Section 2.2, (i) an opinion, dated such date, of the counsel representing the Company
for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, and (ii) a letter or letters from the independent certified public
accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters; and 

(i)    cause all such Registrable Securities included in a Registration Statement pursuant to this Agreement to be listed on each
securities exchange or other securities trading markets on which Common Shares are then listed. 
 2.5.    The Investors
Obligations. 
 (a)    Discontinuance of Distribution. The Investors agree that, upon receipt of any notice from the Company
described in Section 2.4(e) hereof, the Investors shall immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering such Registrable Securities until the Investors’
receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.4(e) hereof or receipt of notice that no supplement or amendment is required and that the Investors’ disposition of the
Registrable Securities may be resumed. The Company may provide appropriate stop orders to enforce the provisions of this Section 2.5(a). 

(b)    Compliance with Prospectus Delivery Requirements. The Investors covenant and agree that they shall comply with the
prospectus delivery requirements of the Securities Act as applicable to them or an exemption therefrom in connection with sales of Registrable Securities pursuant to any Registration Statement filed by the Company pursuant to this Agreement. 

(c)    Notification of Sale of Registrable Securities. The Investors covenant and agree that they shall notify the Company
following the sale of Registrable Securities to a third party as promptly as reasonably practicable, and in any event within thirty (30) days, following the sale of such Registrable Securities. 

  
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 2.6.    Indemnification. 

(a)    To the extent permitted by law, the Company shall indemnify the Investors, and, as applicable, their officers, directors, and
constituent partners, legal counsel for each Investor and each Person controlling the Investors, with respect to which registration, related qualification, or related compliance of Registrable Securities has been effected pursuant to this Agreement,
and each underwriter, if any, and each Person who controls any underwriter within the meaning of the Securities Act against all claims, losses, damages, or liabilities (or actions in respect thereof) to the extent such claims, losses, damages, or
liabilities arise out of or are based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus or other document (including any related Registration Statement) incident to any such registration,
qualification, or compliance, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading (in light of the circumstances in which they were
made), or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law
applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification, or compliance; and the Company shall pay as incurred to the Investors, each such underwriter, and each
Person who controls the Investors or underwriter, any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided, however, that the
indemnity contained in this Section 2.6(a) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if settlement is effected without the prior written consent of the Company
(which consent shall not unreasonably be withheld); and provided, further, that the Company shall not be liable in any such case to the extent that any such claim, loss, damage, liability, or expense arises out of or is based upon any violation by
such Investor of the obligations set forth in Section 2.5 hereof or any untrue statement or omission contained in such prospectus or other document based upon written information furnished to the Company by the Investors,
such underwriter, or such controlling Person and stated to be for use therein. 
 (b)    To the extent permitted by law, each Investor
(severally and not jointly) shall, if Registrable Securities held by such Investor are included for sale in the registration and related qualification and compliance effected pursuant to this Agreement, indemnify the Company, each of its directors,
each officer of the Company who signs the applicable Registration Statement, each legal counsel and each underwriter of the Company’s securities covered by such a Registration Statement, each Person who controls the Company or such underwriter
within the meaning of the Securities Act against all claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in
any such Registration Statement, or related document, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading (in light of the
circumstances in which they were made), or (iii) any violation or alleged violation by such Investor of Section 2.5 hereof, the Securities Act, the Exchange Act, any state securities law, or any rule or regulation
promulgated under the Securities Act, the Exchange Act or any state securities law applicable to such Investor and relating to action or inaction required of such Investor in connection with any such registration and related qualification and
compliance, and shall pay as 

  
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incurred to such persons, any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case only
to the extent that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in (and such violation pertains to) such Registration Statement or related document in reliance upon and in conformity with written
information furnished to the Company by such Investor and stated to be specifically for use therein; provided, however, that the indemnity contained in this Section 2.6(b) shall not apply to amounts paid in
settlement of any such claim, loss, damage, liability, or action if settlement is effected without the prior written consent of such Investor (which consent shall not unreasonably be withheld); provided, further, that such Investor’s liability
under this Section 2.6(b) (when combined with any amounts such Investor is liable for under Section 2.6(d)) shall not exceed such Investor’s net proceeds from the offering of securities made
in connection with such registration. 
 (c)    Promptly after receipt by an indemnified party under this
Section 2.6 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 2.6, notify the
indemnifying party in writing of the commencement thereof and generally summarize such action. The indemnifying party shall have the right to participate in and to assume the defense of such claim; provided, however, that the
indemnifying party shall be entitled to select counsel for the defense of such claim with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided further, however, that if either party
reasonably determines that there may be a conflict between the position of the Company and the Investors in conducting the defense of such action, suit, or proceeding by reason of recognized claims for indemnity under this
Section 2.6, then counsel for such party shall be entitled to conduct the defense to the extent reasonably determined by such counsel to be necessary to protect the interest of such party. The failure to notify an
indemnifying party promptly of the commencement of any such action, if prejudicial to the ability of the indemnifying party to defend such action, shall relieve such indemnifying party, to the extent so prejudiced, of any liability to the
indemnified party under this Section 2.6, but the omission so to notify the indemnifying party shall not relieve such party of any liability that such party may have to any indemnified party otherwise than under this
Section 2.6. 
 (d)    If the indemnification provided for in this Section 2.6 is
held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party
hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the
one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by
the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. In no event, however, shall (i) any amount due for
contribution hereunder be in excess of the amount that would otherwise be due under Section 2.6(a) or Section 2.6(b), as applicable, based on the 

  
 9 

 
limitations of such provisions and (ii) a Person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) be entitled to contribution from a Person who was not
guilty of such fraudulent misrepresentation. 
 (e)    Notwithstanding the foregoing, to the extent that the provisions on
indemnification and contribution contained in the underwriting agreement entered into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control;
provided, however, that the failure of the underwriting agreement to provide for or address a matter provided for or addressed by the foregoing provisions shall not be a conflict between the underwriting agreement and the foregoing
provisions. 
 (f)    The obligations of the Company and the Investors under this Section 2.6 shall survive
the completion of any offering of Registrable Securities in a Registration Statement under this Agreement or otherwise. 

2.7.    Information. The Investors shall furnish to the Company such information regarding the Investors and the distribution
proposed by the Investors as the Company may reasonably request and as shall be reasonably required in connection with any registration referred to in this Agreement. The Investors agree to, as promptly as practicable (and in any event prior to any
sales made pursuant to a prospectus), furnish to the Company all information required to be disclosed in order to make the information previously furnished to the Company by the Investors not misleading (in light of the circumstances in which they
were made). The Investors agree to keep confidential the receipt of any notice received pursuant to Section 2.4(e) and the contents thereof, except as required pursuant to applicable law. Notwithstanding anything to the
contrary herein, the Company shall be under no obligation to name the Investors in any Registration Statement, or to include any Investors’ Registrable Securities in any Registration Statement, if the Investors have not provided the information
required by this Section 2.7 with respect to the Investors as a selling securityholder in such Registration Statement or any related prospectus. 

2.8.    Rule 144 Requirements. With a view to making available to the Investors the benefits of Rule 144 promulgated under the
Securities Act and any other rule or regulation of the Commission that may at any time permit the Investors to sell Registrable Securities to the public without registration, the Company agrees to use its reasonable best efforts to: 

(a)    make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act at all
times after the date hereof; 
 (b)    file with the Commission in a timely manner all reports and other documents required of the
Company under the Securities Act and the Exchange Act; and 
 (c)    furnish to any Investor, so long as the Investor owns any
Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company and such other
reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested by an Investor in availing itself of any rule or regulation of the Commission which permits an Investor to sell any such securities
without registration. 

  
 10 

 2.9.    Termination of Status as Registrable Securities. RESERVED. 

Section 3. 

Miscellaneous 

3.1.    Amendment. No amendment, alteration or modification of any of the provisions of this Agreement shall be binding unless made
in writing and signed by each of the Company and the Investors. 
 3.2.    Injunctive Relief. It is hereby agreed and
acknowledged that it shall be impossible to measure in money the damages that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an aggrieved Person shall be
irreparably damaged and shall not have an adequate remedy at law. Any such Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including, without limitation,
specific performance, to enforce such obligations, and if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

3.3.    Notices. All notices required or permitted under this Agreement must be in writing and sent to the address or email address
identified below. Notices must be given: (a) by personal delivery, with receipt acknowledged; (b) by email followed by hard copy delivered by the methods under clause (c) or (d); (c) by prepaid certified or
registered mail, return receipt requested; or (d) by prepaid reputable overnight delivery service. Notices shall be effective upon receipt. Either party may change its notice address by providing the other party written notice of such change.
Notices shall be delivered as follows: 
  

			
	If to the Investors:	  	At such Investor’s address as set forth on Schedule A hereto
		
	If to the Company:	  	 Zymeworks Inc.
 Attention: Chief Financial
Officer
 Suite 540 – 1385 West 8th Avenue

Vancouver, BC, Canada V6H 3V9

		
	with a copy to:	  	 Zymeworks Inc.
 Attention: Legal Department

Suite 540 – 1385 West 8th Avenue

Vancouver, BC, Canada V6H 3V9
 Email:
legal-notifications@zymeworks.com

		
	with a copy to:	  	 Skadden, Arps, Slate, Meagher & Flom LLP

Attention: Ryan Dzierniejko
 One Manhattan West

New York, New York 10001-8602

  
 11 

 3.4.    Governing Law; Jurisdiction; Venue; Jury Trial. 

(a)    This Agreement shall be governed by, and construed in accordance with, the law of the State of New York without giving effect to any
choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 

(b)    Each of the Company and the Investors irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the courts of the State of New York sitting in the Borough of Manhattan, New York and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement and the transactions contemplated herein, or for recognition or enforcement of any judgment, and each of the Company and the Investors irrevocably and unconditionally agrees that all claims in respect of
any such action or proceeding may be heard and determined in such New York state court or, to the fullest extent permitted by applicable law, in such federal court. Each of the Company and the Investors hereto agrees that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(c)    Each of the Company and the Investors irrevocably and unconditionally waives, to the fullest extent permitted by applicable law,
any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement and the transactions contemplated herein in any court referred to in
Section 3.4(b) hereof. Each of the Company and the Investors hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding
in any such court. 
 (d)    EACH OF THE COMPANY AND THE INVESTORS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
OF THE COMPANY AND THE INVESTORS (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT EACH OF THE COMPANY AND THE INVESTORS HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

3.5.    Successors, Assigns and Transferees. Any and all rights, duties and obligations hereunder shall not be assigned,
transferred, delegated or sublicensed by any party hereto without the prior written consent of the other party; provided, however, that the Investors shall be entitled to transfer Registrable Securities to one or more of their
affiliates and, solely in connection therewith, may assign their rights hereunder in respect of such transferred Registrable Securities to one or more of their affiliates, in each case, so long as such Investor is not relieved

  
 12 

 
of any liability or obligations hereunder, without the prior consent of the Company. Any transfer or assignment made other than as provided in the first sentence of this
Section 3.5 shall be null and void. Subject to the foregoing and except as otherwise provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, permitted assigns,
heirs, executors and administrators of the parties hereto. The Company shall not consummate any recapitalization, merger, consolidation, reorganization or other similar transaction whereby shareholders of the Company receive (either directly,
through an exchange, via dividend from the Company or otherwise) equity (the “Other Equity”) in any other entity (the “Other Entity”) with respect to Registrable Securities hereunder, unless prior to the
consummation thereof, the Other Entity assumes, by written instrument, the obligations under this Agreement with respect to such Other Equity as if such Other Equity were Registrable Securities hereunder provided, that such Other Entity shall not be
required to assume such obligations if, upon consummation of such transaction, the Investors would be able to resell the Other Equity without limitations as to volume or manner of sales pursuant to Rule 144. 

3.6.    Entire Agreement. This Agreement, together with any exhibits hereto, constitute the entire agreement between the parties
relating to the subject matter hereof and all previous agreements or arrangements between the parties, written or oral, relating to the subject matter hereof are superseded. 

3.7.    Waiver. No failure on the part of either party hereto to exercise any power, right, privilege or remedy under this
Agreement, and no delay on the part of either party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy
shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. 
 3.8.    Severability.
If any part of this Agreement is declared invalid or unenforceable by any court of competent jurisdiction, such declaration shall not affect the remainder of the Agreement and the invalidated provision shall be revised in a manner that shall render
such provision valid while preserving the parties’ original intent to the maximum extent possible. 
 3.9.    Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall,
unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 
 3.10.    Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties that execute such counterparts (including by facsimile or other electronic means), and all of which together shall constitute one
instrument. 
 3.11.    Term and Termination. The Investors’ rights to demand the registration of the Registrable Securities
under this Agreement, as well as the Company’s obligations hereunder other than pursuant to Section 2.6 hereof, shall terminate automatically once all Registrable Securities cease to be Registrable Securities pursuant
to the terms of this Agreement. 
 [Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement effective as of the
day, month and year first above written. 
  

			
	ZYMEWORKS INC.
		
	By:	 	 /s/ Neil. Klompas

	Name:	 	Neil A. Klompas
	Title:	 	Executive Vice President, Business Operations and Chief Financial Officer

  
 [Signature Page to
Registration Rights Agreement] 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement effective as of the
day, month and year first above written. 
  

			
	667, L.P.
		
	By:	 	BAKER BROS. ADVISORS LP, management company and investment adviser to 667, L.P., pursuant to authority granted to it by Baker Biotech Capital, L.P., general partner to 667, L.P., and not as the general partner
		
	By:	 	 /s/ Scott L. Lessing

		 	Scott L. Lessing
		 	President
	
	BAKER BROTHERS LIFE SCIENCES, L.P.
		
	By:	 	BAKER BROS. ADVISORS LP, management company and investment adviser to BAKER BROTHERS LIFE SCIENCES, L.P., pursuant to authority granted to it by Baker Brothers Life Sciences Capital, L.P., general partner to BAKER BROTHERS LIFE
SCIENCES, L.P., and not as the general partner
		
	By:	 	 /s/ Scott L. Lessing

		 	Scott L. Lessing
		 	President

  
 [Signature Page to
Registration Rights Agreement] 

 Schedule A 

The Investors 
 667, L.P. 

BAKER BROTHERS LIFE SCIENCES, L.P. 
 To the above Investors: 

Baker Brothers Investments 
 860 Washington Street, 3rd Floor

 New York, NY 10014 
 With a copy to: 

Akin Gump Strauss Hauer & Feld LLP 
 Attn: Jeffrey
Kochian 
 One Bryant Park 
 New York, NY 10036-6745

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