Document:

EX-10.12

 Exhibit 10.12 
 [*] = 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. 
 EXECUTION VERSION 

 
  

Clinical Collaboration Agreement 
 by and among 
 Portola Pharmaceuticals, Inc.,

 Bristol-Myers Squibb Company, 
 and 
 Pfizer Inc. 

 
  

 CLINICAL COLLABORATION AGREEMENT 

This CLINICAL COLLABORATION AGREEMENT (the “Agreement”) is entered into and made effective as of October 16, 2012
(the “Effective Date”), by and among Portola Pharmaceuticals, Inc., a corporation organized and existing under the laws of Delaware, having its principal place of business at 270 East Grand
Avenue, Suite 22, South San Francisco, CA 94080, USA (“Portola”), Bristol-Myers Squibb Company, a corporation organized and existing under the laws of Delaware, having its principal place of business at 345 Park
Avenue, New York, NY 10154 (“BMS”), and Pfizer Inc., a corporation organized and existing under the laws of Delaware, having its principal place of business at 235 East 42nd Street, New York, New York 1017
(“Pfizer”). Each of Portola, BMS and Pfizer are referred to individually as a “Party” and collectively as the “Parties.” 

RECITALS 

WHEREAS, BMS and Pfizer are developing and commercializing Apixaban, a Factor Xa inhibitor pursuant to that certain Amended and Restated
Co-Development and Co-Promotion Agreement (Apixaban), dated as of December 2, 2010, as amended (the “BMS/Pfizer Agreement”); 
 WHEREAS, Portola is developing a proprietary compound, PRT064445, as a Factor Xa inhibitor antidote, as it relates to clinical situations (including serious bleeding) that require urgent reversal of the
anticoagulant effects of Factor Xa inhibitors, including Apixaban; 
 WHEREAS, the Parties desire to collaborate to conduct
certain pre-clinical safety and pharmacology studies as well as a proof of concept clinical study of PRT064445 as an antidote to Apixaban (which may be either a Phase 1b or Phase 2 study), and to cooperate in regulatory matters to the extent set
forth herein. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, the
receipt and sufficiency which are hereby acknowledged, the Parties hereby agree as follows. 
 ARTICLE 1 

DEFINITIONS 
 Unless the context otherwise requires, the terms in this Agreement with initial letters capitalized, shall have the meanings set forth below, or the meaning as designated in the indicated places
throughout this Agreement. 
 1.1 “Affiliate” means, with respect to a Party, any Person that controls,
is controlled by, or is under common control with that Party. For the purpose of this definition, “control” means, (a) direct or indirect, ownership of fifty percent (50%) or more of the shares of stock entitled to vote for the
election of directors, in the case of a corporation, or fifty percent (50%) or more of the equity interest, in the case of any other type of legal entity, (b) status as a general partner in any partnership, or (c) any other
arrangement whereby the entity or person controls or has the right to control the board of directors or equivalent governing body of a corporation or 

  
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[*] = 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. 

 
other entity, or the ability to cause the direction of the management or policies of a corporation or other entity. 
 1.2 “Apixaban” means the Factor Xa inhibitor being developed and commercialized by BMS and Pfizer, having the chemical structure set forth in Schedule 1.2. 

1.3 “Applicable Laws” shall mean all applicable laws, rules and regulations (whether federal, state or local)
which may be in effect from time to time and applicable to conduct under this Agreement, including current Good Manufacturing Practices (cGMP) and current Good Clinical Practices (cGCP). 

1.4 “BMS/Pfizer Indemnitees” has the meaning set forth in Section 12.1. 

1.5 “BMS/Pfizer Know-How” means any Know-How Controlled by BMS or Pfizer or any of their respective Affiliates as
of the Effective Date or thereafter during the Term that is necessary or reasonably useful to conduct the Studies or to develop PRT064445 as an antidote for Apixaban. 
 1.6 “BMS/Pfizer Patents” means any Patent Rights Controlled by BMS or Pfizer or any of their respective Affiliates as of the Effective Date or thereafter during the Term that cover
Apixaban and/or its use and that are necessary or reasonably useful to conduct the Studies or to develop PRT064445 as an antidote for Apixaban. 
 1.7 “BMS/Pfizer Technology” means BMS/Pfizer Know-How and BMS/Pfizer Patents. 
 1.8 “cGMPs” means all current Applicable Laws and regulations that apply to the manufacture of active ingredients and pharmaceutical products, including the United States
regulations set forth under Title 21 of the United States Code of Federal Regulations parts 210, 211, as may be amended from time to time, as well as applicable guidance published by the FDA from time to time, and foreign equivalents.

 1.9 “Claims” means all Third Party demands, claims, actions, proceedings and liability (whether
criminal or civil, in contract, tort or otherwise) for losses, damages, reasonable legal costs and other reasonable expenses of any nature. 
 1.10 “Clinical Trial” means the “proof of concept” clinical study of PRT064445 as an antidote to Apixaban which is contemplated by the Parties, the outline of which as of the
Effective Date is set forth in the initial Development Plan. 
 1.11 “Commercially Reasonable Efforts”
means, with respect to carrying out a Party’s tasks and obligations under this Agreement, expending reasonable, diligent, good faith efforts and resources to accomplish such task or obligation as such Party would normally use to accomplish a
similar task or obligation for a pharmaceutical product in a similar stage of development under similar circumstances. Commercially Reasonable Efforts requires that a Party, at a minimum, assign responsibility for such obligations to qualified
employees, consultants or contractors, set goals and objectives for carrying out such obligations, and allocate resources designed to meet such goals and objectives. 

  
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[*] = 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. 

 1.12 “Confidentiality Agreement” has the meaning set forth in
Section 13.77. 
 1.13 “Control” or “Controlled” means, with respect to any
Know-How, Patent Right, other intellectual property right, or any proprietary or trade secret information, that a Party or any of its Affiliates has the legal authority or right (whether by ownership, license or otherwise) to grant a license or a
sublicense under such Know How, Patent Right, or intellectual property right to the other Party, or to otherwise disclose such proprietary or trade secret information to the other Party, all on the terms and conditions set forth in this Agreement
and without breaching the terms of any then-existing agreement with any Third Party or misappropriating the proprietary or trade secret information of any Third Party. 
 1.14 “Development Plan” has the meaning set forth in Section 5.2. 
 1.15 “EMA” means the European Medicines Agency or any successor entity thereto. 
 1.16 “FDA” means the United States Food and Drug Administration or any successor entity thereto. 
 1.17 “Indemnified Party” has the meaning set forth in Section 12.4. 
 1.18 “Indemnifying Party” has the meaning set forth in Section 12.4. 
 1.19 “Invention” means any data, results, process, method, composition of matter, article of manufacture, discovery, finding or other Know-How that is developed, conceived, reduced
to practice, authored or otherwise created by or on behalf of a Party as a result of carrying out its obligations under this Agreement, whether or not patentable. 
 1.20 “Joint Collaboration Committee” or “JCC” has the meaning set forth in Section 3.1. 

1.21 “Joint Inventions” has the meaning set forth in Section 8.1(d). 

1.22 “Joint Patents” has the meaning set forth in Section 8.2(b). 

1.23 “Know-How” means any information and any tangible materials, including but not limited to, discoveries,
improvements, processes, methods, protocols, formulas, data, inventions, know-how and trade secrets, patentable or otherwise, but excluding (1) any legal rights arising from Patent Rights, and (2) Study Data. 

1.24 “Patent Rights” means all patents and patent applications (including certificates of invention and
applications for certificates of invention), including all divisionals, continuations, substitutions, continuations-in-part, re-examinations, reissues, additions, renewals, revalidations, extensions, registrations, pediatric exclusivity periods and
supplemental protection certificates and the like of any such patents and patent applications, and any and all equivalents of the foregoing in any country or jurisdiction. 
 1.25 “Person” means any individual, partnership, limited liability company, firm, corporation, association, trust, unincorporated organization or other entity. 

  
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[*] = 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. 

 1.26 “Portola Indemnitees” has the meaning set forth in
Section 12.2. 
 1.27 “Portola Know-How” means any Know-How Controlled by Portola or any of its Affiliates
as of the Effective Date or thereafter during the Term that is necessary or reasonably useful to conduct the Studies or to develop Apixaban for use with PRT064445. 
 1.28 “Portola Patents” means any Patent Rights Controlled by Portola or any of its Affiliates as of the Effective Date or thereafter during the Term that cover PRT064445 and/or its use
and are necessary or reasonably useful to conduct the Studies or to develop Apixaban for use with PRT064445. 
 1.29
“PRT064445” means the Factor Xa inhibitor antidote being developed by Portola, having the chemical structure set forth in Schedule 1.29. 
 1.30 “Regulatory Approval” means, with respect to a pharmaceutical product, all approvals, registrations, licenses or authorizations from the relevant Regulatory Authority in a
country or jurisdiction that is specific to such product and necessary to develop, market and sell such product in such country or jurisdiction. 
 1.31 “Regulatory Authority” means any applicable government regulatory agency or authority responsible for granting Regulatory Approvals for pharmaceutical products, including the
FDA, EMA and any corresponding national or regional regulatory authorities. 
 1.32 “Regulatory Filings”
means, with respect to a pharmaceutical product, any submission to a Regulatory Authority of any appropriate regulatory application specific to such product, and shall include any submission to a regulatory advisory board and any supplement or
amendment thereto with respect to such product. 
 1.33 “Studies” means the Clinical Trial as set forth
in the Development Plan and any pre clinical safety and pharmacology studies required by the FDA or otherwise agreed upon by the parties (the “Preclinical Studies”) . 

1.34 “Study Data” means all data generated by the Studies. 

1.35 “Term” has the meaning set forth in Section 10.1. 

1.36 “Third Party” means any Person other than a Party or an Affiliate of a Party. 

1.37 “United States” or “US” means the United States of America, including its territories and
possessions. 
 1.38 Interpretation. In this Agreement, unless otherwise specified or unless the context otherwise
requires: 
 (a) “includes” and “including” shall mean respectively includes and including without
limitation; “or” is used in the inclusive sense (i.e., “and/or”); “will” shall mean “shall”; references to “dollars” or “$”shall mean U.S. Dollars; “annual” refers to a calendar
year; “quarterly” refers to a calendar quarter; 

  
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[*] = 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. 

 (b) words denoting the singular shall include the plural and vice versa and words
denoting any gender shall include all genders; 
 (c) words such as “herein”, “hereof”, and
“hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such words appear; 

(d) any reference to any laws or regulations refers to such laws or regulations as from time to time enacted, repealed or amended;

 (e) the Exhibits and other attachments form part of the operative provision of this Agreement and references to this
Agreement shall include references to the Exhibits and attachments. 
 ARTICLE 2 

LICENSE 

2.1 License Grants. 
 (a) Subject to the terms and conditions of this Agreement, each of BMS and Pfizer hereby grants to Portola: 
 (i) a non-exclusive, fully paid, non-sublicenseable (but with the right to subcontract in accordance with Section 5.4) license under the BMS/Pfizer Technology to conduct the Studies pursuant
to the Development Plan; 
 (ii) a non-exclusive, fully paid, non-sublicenseable (but with the right to subcontract in
accordance with Section 5.4) license under the BMS/Pfizer Patents to develop (including seeking Regulatory Approval for) PRT064445 as an antidote for Apixaban; 
 (iii) a non-exclusive, fully paid, non-sublicenseable (but with the right to subcontract in accordance with Section 5.4) license under the BMS/Pfizer Know-How to develop (including seeking
Regulatory Approval for) PRT064445 as an antidote for Factor Xa inhibitors; and 
 (iv) [*] license, [*] to [*] to [*],
under [*], and [*] or [*] or [*], to [*] and [*]. 
 (b) Subject to the terms and conditions of this Agreement, Portola
hereby grants to each of BMS and Pfizer: 
 (i) a non-exclusive, fully paid, non-sublicenseable (but with the right to
subcontract in accordance with Section 5.4) license under the Portola Know-How and the Portola Patents to conduct the Studies pursuant to the Development Plan; and 
 (ii) [*] license, [*] to [*] to [*], under [*], and [*] or [*] under [*], to [*], and [*]. 

  
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[*] = 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) The licenses set forth above are for the convenience of the Parties, and no
inference shall be drawn as to whether such licenses would or would not have been necessary for the development and commercialization of PRT064445 as an antidote to Apixaban. 
 2.2 [*]. Each Party recognizes that it has [*] in [*] of the [*] which may be useful in [*]. If any Party desires [*] of [*], such Party shall bring it to the attention of the JCC for discussion.
Except as expressly permitted by this Agreement, no Party shall [*] (including [*]) without the prior written consent of such other Party. In the event that a Party has granted its consent [*], such consent shall [*] (i.e., if [*] the consent [*] in
[*] a [*], [*] in the [*] in any [*] consent). 
 2.3 No Implied Licenses; Negative Covenant. Except as expressly set
forth herein, no Party shall acquire any license or other intellectual property interest, by implication or otherwise, under any Know-How, Patent Rights, trademarks or other intellectual property rights owned or controlled by another Party. Portola
shall not, and shall not permit any of its Affiliates to, practice any proprietary BMS/Pfizer Technology outside the scope of the license granted to it under Section 2.1(a). BMS and Pfizer shall not, and shall not permit any of its Affiliates
to, practice any proprietary Portola Know-How and Portola Patents outside the scope of the license granted to it under Section 2.1(b). 
 2.4 Future Intellectual Property. For clarity, the terms and conditions of the Agreement shall not apply to any Know-How, Patent Rights, trademarks or other intellectual property rights developed
or acquired by any Party after the expiration or termination of this Agreement, and no Party shall acquire any license or other rights to such future intellectual property rights of the other Parties under this Agreement. 

ARTICLE 3 

GOVERNANCE 

3.1 Joint Collaboration Committee 
 (a) The Parties will establish a joint steering committee (the “Joint Collaboration Committee” or “JCC”) to oversee the Parties’ activities under this
Agreement. Within [*], Portola shall appoint two (2) representatives to the JCC, and each of BMS and Pfizer shall appoint one (1) representative to the JCC and notify the other Parties of the dates of availability for the first meeting of
the JCC. The JCC may change its size from time to time by mutual consent of its members and each Party may replace its representatives at any time upon written notice to the other Parties. Each Party’s JCC representatives shall include an
officer or employee of such Party with sufficient seniority to make decisions arising within the JCC’s responsibilities. 

(b) The JCC will be responsible to: (i) discuss, coordinate and review the conduct of the Studies; (ii) discuss and
approve any amendments to the Development Plan, including the protocols for the Studies and the statistical analysis plans; (iii) discuss and review the results of the Studies, including the data analysis; and (iv) perform other
obligations specifically delegated to the JCC under the Agreement or otherwise agreed to by the Parties in writing. 

  
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[*] = 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) The JCC shall not have the authority, and no Party may exercise its final
decision-making authority under this Agreement, to: (i) modify or amend the terms and conditions of this Agreement; (ii) waive either Party’s compliance with the terms and conditions of this Agreement; (iii) determine any such
issue in a manner that would conflict with the terms and conditions of this Agreement; (iv) increase either Party’s obligations with regard to the Development Plan without such Party’s consent; (v) unilaterally make a decision
that is expressly stated to require the mutual agreement of the Parties or the consent of the other Party); or (v) render any interpretation of this Agreement that is binding upon the Parties. 

3.2 Meetings of the Joint Collaboration Committee 
 (a) The JCC shall meet periodically, but at least once in every calendar quarter. The first meeting of the JCC shall be held as soon as reasonably practicable, but in no event later than [*].
Meetings shall be held at such dates and places as are mutually agreed or by teleconference or videoconference. 
 (b)
Each Party may from time to time invite a reasonable number of participants, in addition to its representatives, to attend JCC meetings in a non-voting capacity, with the consent of the other such Party (which shall not be unreasonably
withheld); provided, that if any such Party intends to have any Third Party (including any consultant) attend such a meeting, such Third Party will be subject to the prior approval of the other Parties and must be bound by confidentiality
obligations consistent with the terms of this Agreement. 
 (c) Each of Portola, on the one hand, and BMS and Pfizer, on
the other hand, shall appoint one (1) of its representatives on the JCC to act as co-chairpersons of the JCC. The chairpersons shall set agendas for JCC meetings, provided that the agendas will include any matter requested by any Party. The
chairpersons shall be responsible for recording, preparing and, within a reasonable time, issuing minutes of each JCC meeting, which draft minutes shall be subject to review and approval by the JCC. 

3.3 Decision Making. The JCC shall make decisions unanimously, with Portola’s representatives collectively, on the one hand,
and BMS’s and Pfizer’s representatives collectively, on the other hand, having one (1) vote and at least one (1) representative from each of Portola, on the one hand, and BMS and Pfizer, on the other hand, participating in such
decision (it being understood that BMS’s representative may elect not to take action absent concurrence from the Pfizer representative, and vice versa, as such Parties may determine). In the event the JCC cannot reach an agreement regarding a
decision within the JCC’s authority for a period of [*], then the matter shall be referred to the [*] of Portola, the [*] of BMS, and the [*] of Pfizer for resolution. If such senior executives cannot resolve a dispute within [*] after such
matter is first referred to them pursuant to this Section 3.3, then the [*] shall have the final decision making authority on such matter; provided that in the event that the matter in dispute relates to [*], which [*], such issue must be
mutually agreed (with no tie-breaking vote [*]). For clarity, the final decision of [*] on matters within its final decision making authority, and the Parties’ failure to reach agreement on matters that require mutual agreement of the Parties,
shall not be subject to any other dispute resolution procedure. 

  
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[*] = 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. 

 3.4 Costs of Governance. The costs incurred by each Party’s employees in
connection with its participation at any meetings under this Article 3 shall be borne solely by such Party. 
 3.5
Alliance Managers. Each of Portola and BMS will appoint one representative to act as Alliance Managers (each, an “Alliance Manager”) for the collaboration. The role of the Alliance Manager is to act as a primary point of
contact between the Parties to assure a successful relationship between the Parties. The Alliance Managers will attend all meetings of the JCC and support the JCC in the discharge of its responsibilities. An Alliance Manager may bring any matter
concerning a Party’s performance under this Agreement to the attention of the JCC if the Alliance Manager reasonably believes that such attention is warranted. Each Party may change its designated Alliance Manager from time to time upon written
notice to the other Party. Any Alliance Manager may designate a substitute to temporarily perform the functions of such Alliance Manager upon written notice to the other Party’s Alliance Manager. Each Alliance Manager will be charged with
creating and maintaining a collaborative work environment within the JCC. Each Alliance Manager also will: 
 (a)
provide a single point of communication both internally within the Parties’ respective organizations and between the Parties regarding the Development Plan; 
 (b) plan and coordinate any cooperative efforts under this Agreement, if any, and any external communications; and 
 (c) take responsibility for ensuring that JCC activities, such as the conduct of required JCC meetings, occur as set forth in this Agreement and that relevant action items, if any, resulting from
such meetings are appropriately carried out or otherwise addressed. 
 ARTICLE 4 

MANUFACTURE AND SUPPLY 
 4.1 PRT064445. 
 (a) Manufacture and Supply. Portola shall
manufacture or have manufactured PRT064445 [*] for the Studies. Portola shall supply [*] PRT064445 for use in the Studies as set forth in the Development Plan, with [*] by Portola. The cost of manufacture and supply (including the cost of shipping
and importation) of PRT064445 for the Studies shall be [*]. PRT064445 shall be manufactured in accordance with Applicable Laws (including cGMP to the extent required by Applicable Laws) and shall be [*] PRT064445 used by Portola for its own clinical
trials of PRT064445. 
 (b) Use. In the event that Portola supplies BMS or Pfizer with any PRT064445 under this
Agreement, BMS and/or Pfizer shall use the PRT064445 supplied under and in connection with this Agreement solely as necessary for, and in accordance with, the Studies and this Agreement and for no other purpose, including without limitation any
commercial purpose or other research unrelated to the Studies. 

  
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[*] = 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. 

 4.2 Apixaban. 

(a) Manufacture and Supply. BMS shall manufacture or have manufactured Apixaban [*] for the Studies. BMS shall supply [*] to
Portola for use in the Studies as set forth in the Development Plan, with [*] by BMS. The cost of manufacture and supply (including the cost of shipping and importation) of Apixaban for the Studies shall be [*]. Apixaban shall be manufactured in
accordance with Applicable Laws (including cGMP to the extent required by Applicable Laws) and shall be [*] Apixaban used by BMS for its own clinical trials of Apixaban. 
 (b) Use. Portola shall use the Apixaban supplied under and in connection with this Agreement solely as necessary for, and in accordance with, the Studies and this Agreement and for no other
purpose, including without limitation any commercial purpose or other research unrelated to the Studies. 
 4.3
Responsibility for Quality. BMS and Portola shall manufacture and supply Apixaban and PRT064445, respectively, under its own quality system necessary to ensure its compliance with cGMP and applicable regulatory requirements during
the Term. For the avoidance of doubt, each Party shall be responsible for the quality of its own compound during the Term. 
 ARTICLE 5 
 DEVELOPMENT 

5.1 Overview. The Parties desire and intend to collaborate with respect to the conduct of the Studies in accordance with the
Development Plan, as and to the extent set forth in this Agreement. As described in more detail in this Article 5, Portola shall be responsible for the conduct of the Studies, including the manufacturing and supply of PRT064445 required for the
Studies, and shall provide BMS with the right to cross reference PRT064445’s Regulatory Filings as reasonably necessary to conduct the Studies and gain Regulatory Approval for Apixaban for use with PRT064445, and BMS shall be responsible for
the manufacturing and supply of Apixaban required for the Studies and shall provide Portola with the right to cross reference Apixaban’s Regulatory Filings as reasonably necessary to conduct the Studies and gain Regulatory Approval for
PRT064445 use as an antidote for Apixaban. BMS and Pfizer acknowledge that [*] for [*] for the [*], and agrees that [*] of [*] (to the extent [*] for the [*]) for [*] shall [*]. The Parties intend for the resulting data from the Studies to be
sufficient for use in publications for the use of PRT064445 as an antidote for Apixaban. 
 5.2 Development Plan. The
Studies shall be conducted in accordance with a written Development Plan (the “Development Plan”), in accordance with a protocol, to be agreed by the Parties, that is substantively similar to the protocol synopsis attached hereto as
Exhibit A. As of the Effective Date, the Parties have agreed upon a draft (and not final) Development Plan with respect to the Clinical Trial, which is attached to this Agreement as Exhibit A. From time to time, the Parties,
through the JCC, shall discuss and amend the Development Plan as appropriate. Any amendment to the Development Plan shall become effective upon approval of the JCC. 

  
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[*] = 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. 

 5.3 Development Responsibilities. Unless the Parties agree in writing upon an
alternative allocation of responsibilities, the Parties shall have the following rights and obligations with respect to the conduct of the Studies: 
 (a) BMS and Pfizer Responsibilities. BMS and/or Pfizer shall be responsible for: 
 (i) manufacturing and supplying cGMP-grade Apixaban required for the Studies (with such manufacturing to be undertaken by BMS pursuant to Article 4); 

(ii) providing Portola with the right of reference to regulatory materials of Apixaban that are reasonably necessary to conduct
the Studies and to facilitate the Regulatory Approval for PRT064445 use as an antidote for Apixaban; 
 (iii) [*] the
Preclinical Studies directed by Regulatory Authorities or otherwise agreed upon by the JCC; 
 (iv) [*] protocols and
amendments relating to the use of Apixaban in the Clinical Trial; 
 (v) [*] the resulting Clinical Trial data relating
to Apixaban; 
 (vi) providing [*] with respect to [*], which [*] may be provided by BMS or Pfizer [*]; 

(vii) [*] management of the Clinical Trial; 
 (viii) performing the regulatory activities as set forth in Section 6.1(c); and 
 (ix) performing such Preclinical Studies as the JCC (by mutual agreement) assigns to BMS or Pfizer and that BMS or Pfizer agrees to carry out (it being understood that the Clinical Study shall
remain the responsibility of Portola). 
 (b) Portola Responsibilities. Portola shall be responsible for: 

(i) manufacturing and supplying cGMP-grade PRT064445 required for the Studies; 

(ii) providing BMS and Pfizer with the right of reference to regulatory materials of PRT064445 that are reasonably necessary to
conduct the Studies and to facilitate the incorporation of PRT064445 into Apixaban labeling; 
 (iii) managing and
conducting the Preclinical Studies in accordance with the Development Plan, or as otherwise directed by Regulatory Authorities (except to the extent the Parties mutually agree that certain Preclinical Studies will be conducted by BMS or Pfizer);

  
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[*] = 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. 

 (iv) managing and conducting the Clinical Trial in accordance with the Development
Plan, or as otherwise directed by Regulatory Authorities, including entering into clinical trial agreements with clinical research organizations and other Third Parties contractors, such as academic recruitment sites, in connection with the Clinical
Trial; [*] to the [*] that [*] of the [*] with respect to [*], and that [*] in the Clinical Trial [*] in the [*] (which shall include [*]); 
 (v) notifying BMS and Pfizer of any adverse events related to the Clinical Trial pursuant to the Pharmacovigilance Agreement provided for in Section 6.2; 

(vi) providing the JCC with access to results and updates to Study Data and other documents, including: [*] and [*] related to
[*] to [*]; and Study results, including [*] with respect to [*] and [*] and [*] for [*]. Notwithstanding the above, in the case of [*], or as [*] for [*], Portola shall [*] with [*] and [*] for [*] to [*] or [*]. 

(vii) considering, in good faith, any requests from BMS or Pfizer for additional data relating to development of PRT064445 with
respect to Apixaban; and 
 (viii) performing the regulatory activities set forth in Section 6.1(d). 

5.4 Performance. 
 (a) Each Party shall use Commercially Reasonable Efforts to perform the activities allocated to it under the Development Plan in a timely and effective manner. Without limiting the foregoing,
Portola will use Commercially Reasonable Efforts to [*] within [*] of [*]. 
 (b) Each Party agrees that in performing
its obligations under this Agreement: (i) it shall comply with all Applicable Laws, regulations and requirements, including generally accepted standards of good clinical practice; and (ii) it will not employ or engage any Person to perform
such obligations who has been debarred by any Regulatory Authority, or, to such Party’s knowledge, is the subject of debarment proceedings by a Regulatory Authority.
 (c) Each Party shall retain ownership of any materials that it provides to the other Parties under this Agreement, which shall be used by the other Parties solely for the purpose of carrying out
its obligations under this Agreement. Upon expiration or termination of this Agreement, each Party shall promptly return or destroy, as the other Party shall instruct, any remaining materials provided to it by the other Party, except to the extent
necessary to comply with its obligations under Applicable Laws. 
 (d) Each Party shall have the right to engage
subcontractors for the performance of its obligations under the Development Plans, and shall cause the subcontractor(s) engaged by it to be bound by written obligations of confidentiality and invention assignment consistent with those contained
herein, and such Party remains primarily responsible for the performance of such subcontractor(s). 
 5.5 Development Records
and Reports. Each Party shall maintain complete, current and accurate records of the Studies and other development activities conducted by it hereunder, and all data and other information resulting from such activities. Such records shall

  
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[*] = 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. 

 
fully and properly reflect all work done and results achieved in good scientific manner appropriate for regulatory and patent purposes. Each Party shall document all Studies in formal written
study reports according to Applicable Laws and national and international (e.g., ICH, GCP, GLP, and GMP) guidelines. Each Party shall maintain such records in a professional manner in compliance with all Applicable Laws and regulations and no
Party shall destroy any such records without the other Party’s consent. Each Party shall provide the JCC with regular reports detailing its activities under the Development Plan and the results of such activities at each regularly scheduled JCC
meeting. The Parties shall discuss the status, progress and results of each Party’s activities under the Development Plan at such JCC meetings. 
 5.6 Data Exchange and Ownership. Each Party shall promptly provide the other Parties with copies of all data and results of the Studies generated from its activities under this Agreement, including
patient records to the extent permitted by Applicable Laws. All data and results of the Studies are Inventions under this Agreement and the ownership of such data and results are set forth in Section 8.1. Each Party shall have the right to [*]
that [*] to [*] (which shall include, [*], and [*]), without [*]. For clarity, BMS and Pfizer shall have the right to [*] as [*] in [*] and [*], and Portola shall have the right to [*] as [*] in [*] and [*]. 

5.7 Samples. Patient sample materials (“Samples”) collected in the Studies shall be [*]. Subject to any rights
that Third Parties may have to the Samples, each Party shall have the right to [*] consistent with [*] or otherwise for the purpose of [*] or [*]. Except as expressly set forth herein, [*] use such Samples [*] the [*] of the [*], which shall not be
[*] and which will be made [*] any [*] and any [*]. Samples will be stored for future use in Portola or BMS’ sample repository and, provided [*]. 
 5.8 Additional Studies. The Parties agree to discuss in good faith additional studies of PRT064445 as it relates to Apixaban, and upon mutual agreement, the Parties may continue the collaboration
with additional preclinical studies or clinical trials. If the Parties jointly agree to conduct any such further studies, such further studies will be conducted in accordance with a separate agreement between the Parties. For clarity, no Party shall
be obligated to collaborate with respect to such additional studies, and no Party shall obtain any right under this Agreement to commercialize any proprietary product of any other Party. 

5.9 Development Outside Collaboration. Each Party retains the right to conduct additional preclinical studies and clinical
trials (i.e., other than the Studies set forth in the Development Plan) involving its respective proprietary compound, and such additional preclinical studies or clinical trials shall not be subject to the terms and conditions of this Agreement. The
other Party shall not have any rights to data generated in the course of such independent studies. 
 ARTICLE 6

 REGULATORY 
 6.1 Regulatory Responsibilities. 
 (a) The Development Plan shall set
forth the regulatory strategy for the conduct of the Studies. Subject to Sections 6.1(b) and (c) below, Portola shall be responsible for preparing and filing of any and all Regulatory Filings necessary to conduct the Studies in

  
 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. 

 
accordance with the Development Plan. BMS and Pfizer shall assist and cooperate with Portola in connection with the preparation of such Regulatory Filings, as reasonably requested by Portola,
including providing Portola with the right of reference to regulatory materials of Apixaban that are necessary to conduct the Studies. Portola shall keep BMS and Pfizer reasonably informed of regulatory developments relating to the Studies. Portola
shall provide BMS and Pfizer for review and comment all draft Regulatory Filings related to the Studies (other than routine correspondence) at least [*] in advance of the intended date of submission, and shall consider in good faith BMS’ and
Pfizer’s comments thereto. BMS and Pfizer shall have the right (in addition to Portola) to provide the timelines and protocols of the Studies, as they relate to Apixaban, to Regulatory Authorities. 

(b) Each of BMS and Pfizer, on the one hand, and Portola, on the other hand, shall promptly notify the other Party of all
meetings, conferences and discussions scheduled with any Regulatory Authority that pertains to Apixaban as it relates to PRT064445 (the “BMS/Pfizer Regulatory Authority Meeting”) or that pertains to PRT064445 as it relates to
Apixaban (the “Portola Regulatory Authority Meeting”). 
 (c) For all BMS/Pfizer Regulatory Authority
Meetings: 
 (i) BMS and Pfizer will prepare all strategy and correspondence for BMS/Pfizer Regulatory Authority
Meetings, and will provide Portola with copies of any proposed strategy and correspondence pertaining to PRT064445 at least [*] prior to submission to a Regulatory Authority [*]. All strategy and correspondence related to the combination of Apixaban
and PRT064445 shall be [*] prior to such meeting, provided that BMS and Pfizer shall [*] such Regulatory Filings and make other regulatory communications [*] or [*], or [*]; 
 (ii) Upon BMS’ or Pfizer’s request, Portola shall provide BMS and Pfizer [*] regulatory materials of PRT064445 in a timely manner in order for BMS and Pfizer to prepare for the meeting;

 (iii) BMS and Pfizer shall lead all BMS/Pfizer Regulatory Authority Meetings, [*], collectively, up to [*] Portola
attendees may attend portions of any such meeting that pertains to PRT064445. In the event that BMS or Pfizer [*] at any such meeting, BMS or Pfizer [*] (without the [*], and without [*]). 

(d) For all Portola Regulatory Authority Meetings: 
 (i) Portola will prepare all strategy and correspondence for Portola Regulatory Authority Meetings, and will provide BMS and Pfizer with copies of any proposed strategy and correspondence
pertaining to Apixaban at least [*] prior to submission to a Regulatory Authority [*]. All strategy and correspondence related to the combination of Apixaban and PRT064445 shall be [*] prior to such meeting, provided that Portola shall [*] such
Regulatory Filings and make other regulatory communications [*] or [*], or [*] (e.g., [*] with [*]) or [*]; 
 (ii) Upon
Portola’s request, BMS and Pfizer shall provide Portola [*] regulatory materials of Apixaban in a timely manner in order for Portola to prepare for the meeting; 

  
 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. 

 (iii) Portola shall lead all Portola Regulatory Authority Meetings. Up to [*]
attendees from BMS and Pfizer, collectively, may attend portions of any such meeting that pertains to Apixaban. In the event that BMS or Pfizer would like additional attendees or if Portola has concerns regarding BMS’ or Pfizer’s
attendance at any such meeting, the Parties may raise their concerns for discussion to the JCC (without the [*], and without [*]). 
 (e) Each Party may [*] in [*] and [*] for [*] without the consent of the other Party. 
 6.2 Adverse Event Reporting and Safety Data Exchange. After the Effective Date but in no event later than the initiation of the Studies, the Parties shall define and finalize the actions that the
Parties shall employ to protect study subjects and promote their well-being in a written pharmacovigilance agreement (the “Pharmacovigilance Agreement”). These responsibilities shall include mutually acceptable guidelines and
procedures for the receipt, investigation, recordation, communication, and exchange (as between the Parties) of adverse event reports, pregnancy reports, and any other information concerning the safety of Apixaban and PRT064445 in combination. Such
guidelines and procedures shall be in accordance with, and enable both Parties to fulfill, local and national regulatory reporting obligations under Applicable Laws and regulations. In addition, in the case of safety issues relating to Apixaban, or
as needed to meet BMS’ or Pfizer’s requirements for reporting to Regulatory Authorities relating to Apixaban, Portola shall promptly provide BMS and Pfizer with any Case Report Forms or data and analysis from the Studies as reasonably
necessary for BMS and Pfizer to evaluate such safety issue or comply with any such regulatory requirement. 
 ARTICLE 7

 FINANCIAL PROVISIONS 
 7.1 Payments. 
 (a) Within [*] subsequent to the Effective Date, BMS
shall pay to Portola a one-time fee of two million U.S. dollars ($2,000,000), which amount shall be non-refundable. 
 (b)
Within [*] subsequent to the first dosing of a patient in the Clinical Trial, BMS shall pay to Portola a one-time fee of four million U.S. dollars ($4,000,000). 
 (c) The payments set forth in clauses (a) and (b) above shall be the full extent of any payments to be made by BMS or Pfizer in consideration of this Agreement, and any costs associated
with any preclinical studies required by Regulatory Authorities that are not contemplated in the appended Development Plan shall be funded solely by Portola.
 (d) Pfizer shall reimburse BMS for its portion of the fees described in clauses (a) and (b) above pursuant to the BMS/Pfizer Agreement, with the timing and manner of such reimbursement
being determined by the JFC (as defined in the BMS/Pfizer Agreement). 
 7.2 Development Costs. Each Party shall be
solely responsible for the costs and expenses it incurs in performing its obligations under the Development Plan. In the case of Portola, this shall include the costs incurred to conduct the Studies, except that BMS shall provide Portola, [*], with
all the Apixaban that is required to complete the Studies. In the event 

  
 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. 

 
the JCC assigns to BMS or Pfizer responsibility for certain Studies, and BMS or Pfizer (as applicable) agrees to perform such Studies, such work shall be conducted by BMS or Pfizer at its own
expense except that Portola shall provide BMS or Pfizer (as applicable), [*], with all the PRT064445 that is required to complete such Studies. 
 ARTICLE 8 
 INTELLECTUAL PROPERTY RIGHTS 

8.1 Disclosure and Ownership of Inventions 
 (a) Disclosure of Invention. Each Party shall promptly disclose to the JCC all Inventions made by such Party (including its Affiliates, their respective employees, agents and independent
contractors) under this Agreement, including any invention disclosures, or other similar documents, submitted to it by its employees, agents or independent contractors describing the Inventions. Inventorship for patentable Inventions conceived or
reduced to practice anywhere in the world during the course of the performance of activities pursuant to this Agreement shall be determined in accordance with United States patent laws. 

(b) Portola Inventions. Portola shall solely own all Inventions that [*] (“Portola Inventions”). To the extent
any Portola Invention is made by BMS, whether solely or jointly with Portola, BMS shall, and hereby does, transfer and assign to Portola, without additional consideration, all of BMS’ interest in such Portola Invention, which transfer and
assignment Portola hereby accepts. BMS shall execute and deliver to Portola a deed(s) of such assignment, in a mutually agreeable form and will take whatever actions reasonably necessary, including the appointment of Portola as its attorney in fact
solely to make such assignment, to effect such assignment. 
 (c) BMS Inventions. BMS shall solely own all Inventions
that [*] (“BMS Inventions”). To the extent any BMS Invention is made by Portola, whether solely or jointly with BMS, Portola shall, and hereby does, transfer and assign to BMS, without additional consideration, all of Portola’s
interest in such BMS Invention, which transfer and assignment BMS hereby accepts. Portola shall execute and deliver to BMS a deed(s) of such assignment, in a mutually agreeable form and will take whatever actions reasonably necessary, including the
appointment of BMS as its attorney in fact solely to make such assignment, to effect such assignment. 
 (d) Joint
Invention. All Inventions that are neither a Portola Invention nor a BMS Invention shall be jointly owned by Portola and BMS (the “Joint Inventions”). To the extent any Joint Invention is made solely by a Party, such Party
shall, and does hereby, transfer and assign to Portola and/or BMS, without additional consideration, one undivided half of such Party’s interest in such Joint Invention to the extent necessary to vest joint ownership in Portola and BMS, which
transfer and assignment the other Party hereby accepts. Each Party shall execute and deliver to the other Party a deed(s) of such assignment, in a mutually agreeable form and will take whatever actions reasonably necessary, including the appointment
of the other Party as its attorney in fact solely to make such assignment, to effect such assignment. Each Party shall be entitled to practice, license, assign and exploit its interest in any Joint Invention in

  
 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. 

 
any jurisdiction throughout the world, without the duty of accounting or an obligation to seek consent from the other Party. 

(e) Pfizer Inventions. It is not expected that Pfizer will perform any work under this Agreement that would result in an
Invention. However, in the event Pfizer makes an Invention under this Agreement, the ownership, prosecution and enforcement of the resulting intellectual property rights shall be the same as if such Invention had been made by BMS, and Pfizer agrees
to assign its rights in such Invention consistent with such allocation of rights; provided that any Joint Invention made by Pfizer shall include Pfizer as an owner subject to the same rights and obligations that BMS has under subsection (d) of
this section. 
 8.2 Patent Prosecution. 
 (a) Sole Patents. Each Party shall have the sole right, but not the obligation, to prepare, file, prosecute and maintain all Patent Rights that claim Inventions solely owned by such Party (the
“Sole Patents”), at its sole cost and expense. 
 (b) Joint Patents. [*] shall have the first right, but
not the obligation, to prepare, file, prosecute and maintain all Patent Rights that claim Joint Inventions (the “Joint Patents”), at [*] sole cost and expense. If [*] decides to cease the prosecution or maintenance of any Joint
Patent (or claim within such Joint Patent that [*]), it shall notify [*] in writing sufficiently in advance so that [*] may, at its discretion, assume the responsibility for the prosecution and maintenance of such Joint Patent (or claim), at [*]
sole cost and expense. The prosecuting Party shall provide the other Party, for its review and comment, with drafts of any material filings or responses to be made to any patent authority with respect to Joint Patents at least [*] in advance of
intended submission, and shall provide the other Party with copies of material filings with and communication from patent authorities with respect to Joint Patents. The prosecuting Party shall reasonably consider in good faith incorporating comments
thereto provided by the other Party. 
 (c) Collaboration. Each Party shall provide the other Party all reasonable
assistance and cooperation, at the prosecuting Party’s request, in the patent prosecution efforts provided above in this Section 8.2, including providing any necessary powers of attorney and executing any other required documents or
instruments for such prosecution. 
 8.3 Patent Enforcement 

(a) Sole Patents. Each Party shall have the sole right, but not the obligation, to bring an appropriate suit or other action
against any person or entity engaged in any infringement of its Sole Patents, and shall bear all related expenses and retain all related recoveries. 
 (b) Joint Patents. Each Party will notify the other within [*] of any infringement by a Third Party of any Joint Patents of which such Party becomes aware. [*] shall have the first right, but not
the obligation, to bring an appropriate suit or other action (an “Action”) to enforce the Joint Patents against any infringement. [*] shall have a period of [*] after its receipt or delivery of the notice of infringement, or in the
case of any certification filed pursuant to 21 U.S.C. § 355(b)(2)(A)(iv), 21 U.S.C. § 355(j)(2)(A)(vii)(IV), or any comparable 

  
 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. 

 
Applicable Law (or any amendment or successor statute thereto) in any country or regulatory jurisdiction in the Territory, until no later than [*] prior to the expiration date for filing an
Action in response to such certification, to elect to so enforce the Joint Patents or to pursue a settlement or otherwise secure the abatement of such infringement. If [*] elects not to commence an Action to enforce such Joint Patents (or claim
within such Joint Patent that [*]) or to settle or otherwise secure the abatement of such infringement within such time period, or if [*] fails to commence an Action to enforce such Joint Patents or claim) or to settle or otherwise secure the
abatement of such infringement within [*], then [*] shall have the right, but not the obligation, to commence an Action to enforce such Joint Patents (or claim) against such infringement. The enforcing Party of any Joint Patents (or claim) shall
keep the other Party reasonably informed of the status and progress of such enforcement efforts, and shall reasonably consider the other Party’s comments on any such efforts. At the request of the enforcing Party, the other Party shall provide
reasonable assistance in connection therewith, including by executing reasonably appropriate documents, cooperating in discovery and joining as a party to the action if required. The non-enforcing Party shall be entitled to separate representation
in such matter by counsel of its own choice and at its own cost and expense, but shall at all times cooperate fully with the enforcing Party. In connection with any such proceeding, the enforcing Party shall not enter into any settlement admitting
the invalidity of, or otherwise impairing the other Party’s rights in, the Joint Patents (or claim) without the prior written consent of the other Party. The enforcing Party shall be solely responsible for any expenses incurred by such Party as
a result of such Action. If the enforcing Party recovers monetary damages in such Action, such recovery shall be allocated first to the reimbursement of the expenses incurred by the Parties in such Action, and any remaining amounts shall be shared
between the Parties in proportion to its economic interests. 
 ARTICLE 9 

CONFIDENTIALITY; PUBLICATION 
 9.1 Nondisclosure of Confidential Information. All information disclosed by one Party to any other Party pursuant to this Agreement that (a) if in tangible form, is labeled in writing as
“proprietary” or “confidential” (or similar reference); (b) if in oral or visual form, is identified as proprietary or confidential or for internal use only at the time of disclosure and summarized in writing within [*]
thereafter shall be “Confidential Information” of the disclosing Party. For purposes of this Agreement, regardless of which Party discloses such Confidential Information to the other, (a) all BMS Inventions shall be
Confidential Information of BMS and Pfizer, and Portola shall be the receiving Party, (b) all Portola Inventions shall be Confidential Information of Portola, and BMS and Pfizer shall be the receiving Parties, and (c) all Joint Inventions
and Joint Patents shall, with respect to BMS and Pfizer, be Confidential Information of Portola and, with respect to Portola, be Confidential Information of BMS and Pfizer. 
 (a) Except to the extent expressly authorized in this Article 9, or as otherwise agreed in writing by the Parties, each Party agrees that, for the Term and for a period of [*] thereafter, it shall
(x) not use the disclosing Party’s Confidential Information for the [*] or [*]; or for any other purpose except as expressly provided for in this Agreement ; (y) treat the disclosing Party’s Confidential Information with the same
degree of care the receiving Party uses to its own confidential information but in no event with less than a reasonable degree of care; and (z) reproduce the disclosing Party’s Confidential Information solely to the extent necessary to

  
 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. 

 
accomplish the receiving Party’s obligations under this Agreement, with all such reproductions being considered the disclosing Party’s Confidential Information. 

(b) Notwithstanding anything to the contrary in this Section 9.1, the receiving Party may disclose the disclosing
Party’s Confidential Information to its employees, consultants or agents on a need-to-know basis for the purpose of fulfilling the receiving Party’s obligations under this Agreement; provided, however, that (i) any such
employees, consultants or agents are bound by written obligations of confidentiality at least as restrictive as those set forth in this Agreement, and (ii) the receiving Party remains liable for the compliance of such employees, consultants or
agents with such obligations. 
 (c) Each receiving Party acknowledges that in connection with its and its
representatives’ examination of the Confidential Information of the disclosing Party, the receiving Party and its representatives may have access to material, non-public information, and that the receiving Party is aware, and will advise its
representatives who are informed as to the matters that are the subject of this Agreement, that state and federal laws impose restrictions on the dissemination of such information and trading in securities when in possession of such information.
Each receiving Party agrees that it will not, and will advise its representatives who are informed as to the matters that are the subject of this Agreement to not, purchase or sell any security of the disclosing Party on the basis of the
Confidential Information to the extent such Confidential Information constitutes material non-public information about the disclosing Party or such security. 
 9.2 Exceptions. The foregoing obligations as to particular Confidential Information of a disclosing Party shall not apply to the extent that the receiving Party can demonstrate that such
Confidential Information: 
 (a) is known by the receiving Party at the time of its receipt, and not through a prior
disclosure by the disclosing Party, as documented by the receiving Party’s business records; 
 (b) is in the public
domain or is publicly known by use and/or publication before its receipt from the disclosing Party, or thereafter enters the public domain or becomes publicly known through no fault of the receiving Party; 

(c) is subsequently disclosed to the receiving Party by a Third Party who may lawfully do so and is not under an obligation of
confidentiality to the disclosing Party; or 
 (d) is developed by the receiving Party independently and without use of
or reference to any Confidential Information received from the disclosing Party, as documented by the receiving Party’s business records. 
 Any combination of features or disclosures shall not be deemed to fall within the foregoing exclusions merely because individual features are published or available to the general public or in the
rightful possession of the receiving Party unless the combination itself and principle of operation are published or available to the general public or in the rightful possession of the receiving Party. 

  
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[*] = 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. 

 9.3 Authorized Disclosures. Notwithstanding the obligations set forth in
Sections 9.1 and 9.4, a Party may disclose the other Party’s Confidential Information and the terms of this Agreement to the extent: 
 (a) such disclosure: (i) is reasonably necessary for filing or prosecuting Patent Rights as contemplated by this Agreement; (ii) is reasonably necessary in connection with [*] or [*], or
[*], is reasonably necessary for the [*]; (iii) is reasonably necessary for prosecuting or defending litigation as contemplated by this Agreement; or (iv) is made to any Third Party bound by written obligation of confidentiality and
non-use similar to those set forth under this Article 9, to the extent otherwise necessary or appropriate in connection with the exercise of its rights or the performance of its obligations hereunder; 

(b) such disclosure is reasonably necessary: (i) to such Party’s directors, attorneys, independent accountants or
financial advisors for the sole purpose of enabling such directors, attorneys, independent accountants or financial advisors to provide advice to the receiving Party, provided that in each such case on the condition that such directors, attorneys,
independent accountants and financial advisors are bound by confidentiality and non-use obligations substantially consistent with those contained in this Agreement; provided, however, that the term of confidentiality for such directors,
attorneys, independent accountants and financial advisors shall be no less than [*] from the date of disclosure; or (ii) to actual or potential investors, lenders, financing sources, investment bankers and/or acquirors solely for the purpose of
evaluating an actual or potential investment, financing or acquisition; provided that in each such case on the condition that such actual or potential investors, lenders, financing sources, investment bankers and/or acquirers are bound by
confidentiality and non-use obligations substantially consistent with those contained in the Agreement; provided, however, that the term of confidentiality for such investors, lenders, financing sources, investment bankers and/or acquirors shall be
no less than [*] from the date of disclosure; or 
 (c) such disclosure is required by judicial or administrative
process, provided that in such event, to the extent permitted, such Party shall promptly inform the other Party of such required disclosure and provide the other Party an opportunity to challenge or limit the disclosure obligations. Confidential
Information that is disclosed by judicial or administrative process shall remain otherwise subject to the confidentiality and non-use provisions of this Article 8, and the Party disclosing Confidential Information pursuant to law or court order
shall take all steps reasonably necessary, including seeking of confidential treatment or a protective order to ensure the continued confidential treatment of such Confidential Information. 

9.4 Technical Publication. No Party may publish any peer reviewed manuscripts, or give other forms of public disclosure such as
abstracts and presentations, of results of Studies carried out under this Agreement, without the opportunity for prior review by the other Party, except to the extent required by Applicable Laws. A Party seeking publication shall provide the other
Party the opportunity to review and comment on any proposed publication which relates to the Studies at least [*] prior to its intended submission for publication. The other Party shall provide the Party seeking publication with its comments in
writing, if any, within [*] after receipt of such proposed publication. The Party seeking publication shall consider in good faith any comments thereto provided by the other Party and shall comply with the other Party’s request to remove any
and all of such other Party’s Confidential Information from the proposed 

  
 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. 

 
publication. In addition, the Party seeking publication shall delay the submission for a period up to [*] in the event that the other Party determines that the proposed publication contains or
may contain patentable subject matter, so that the other Party may draft and file patent applications directed to such subject matter. If the other Party fails to provide its comments to the Party seeking publication within such [*] period, such
other Party shall be deemed to not have any comments, and the Party seeking publication shall be free to publish such proposed publication after the [*] period has elapsed. The Party seeking publication shall provide the other Party a copy of the
publication at the time of the submission. Each Party agrees to acknowledge the contributions of the other Party and its employees in all publications as scientifically appropriate. If any Party engages any Third Party contractors or collaborators
in the conduct of the Studies hereunder, such Party shall ensure that such Third Party contractors and collaborators (including academic collaborators) are bound by the procedure set forth in this Section 9.4 with respect to any publication
relating to the Studies. Notwithstanding the foregoing, but subject to the review periods set forth above, (a) [*] shall [*] to [*] of the [*] of the [*] pursuant to the [*] set forth in the [*], (b) in the event that [*] any [*] set forth
in [*] in the [*], such [*] shall [*] to [*] by such [*], and in each case of (a) and (b), [*] shall [*] to [*] or [*]. [*] shall [*] for the [*] (if such [*]) other than [*] specified on Schedule 9.4 without [*]. 

9.5 Publicity; Use of Names. Subject to the rest of this Section 9.5 and except as otherwise permitted in this Article 9, no
disclosure of the existence, or the terms, of this Agreement may be made by any Party or its Affiliates, and no Party shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employee(s) in any
publicity, promotion, news release or disclosure relating to this Agreement or its subject matter, without the prior express written permission of the other Party, except as may be required by Applicable Laws. 

(a) A Party may disclose this Agreement and its terms in securities filings with the Securities Exchange Commission
(“SEC”) (or equivalent foreign agency) to the extent required by Applicable Laws after complying with the procedure set forth in this Section 9.5. In such event, the Party seeking such disclosure will prepare a draft
confidential treatment request and proposed redacted version of this Agreement to request confidential treatment for this Agreement, and the other Party agrees to promptly (and in any event, no less than [*] after receipt of such confidential
treatment request and proposed redactions, or such shorter period of time to permit the Party seeking such disclosure to comply with Applicable Laws) give its input in a reasonable manner in order to allow the Party seeking disclosure to file its
request within the time lines proscribed by Applicable Laws and regulations. The Party seeking such disclosure shall exercise reasonable efforts to obtain confidential treatment of the Agreement as represented by the redacted version reviewed by the
other Party. 
 (b) Further, each Party acknowledges that the other Party may be legally required to make public
disclosures (including in filings with the SEC or other agency) of certain material developments or material information generated under this Agreement and agrees that each Party may make such disclosures as required by Applicable Laws,
provided that, to the extent permitted, the Party seeking such disclosure first provides the other Party a copy of the proposed disclosure, and provided further that (except to the extent that the Party seeking disclosure is required to
disclose such information to comply with Applicable Laws or regulations) if the other Party demonstrates to the reasonable satisfaction of the Party seeking 

  
 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. 

 
disclosure, within [*] (or such shorter period of time to permit the Party seeking such disclosure to comply with Applicable Laws) of such Party’s providing the copy, that the public
disclosure of previously undisclosed information will materially adversely affect the development and/or commercialization of PRT064445 or Apixaban, the Party seeking disclosure will remove from the disclosure such specific previously undisclosed
information as the other Party shall reasonably request to be removed. 
 (c) If any Party desires to issue a press
release or make a public announcement concerning the material terms of this Agreement or material developments or material information generated under this Agreement, including announcing the commencement of the Studies and the publication of data
and results of the Studies in accordance with Section 9.5, such Party shall, no later than [*] prior to the anticipated date of any such announcement, provide the other Party with the proposed text of such announcement for prior review and
approval by such other Party, such approval not to be unreasonably withheld or delayed. The Parties shall agree on language of a joint press release announcing the execution of this Agreement, which shall be issued by the Parties on a mutually
agreed date not later than the first patient dosing in the Clinical Trial. 
 (d) The Parties agree that after a
disclosure pursuant to subsection (b) or a press release pursuant to subsection (c) hereof has been reviewed and approved by the other Party, the disclosing Party may make subsequent public disclosures or issue a press release disclosing
the same content without having to obtain the other Party’s prior consent and approval; provided such information remains accurate as of such time. 
 9.6 Equitable Relief. Each Party acknowledges that its breach of this Article 9 may cause irreparable harm to the other Party, which may not be reasonably or adequately compensated in damages in an
action at law. By reasons thereof, each Party agrees that the other Party shall be entitled, in addition to any other remedies it may have under this Agreement or otherwise, to seek preliminary and permanent injunctive and other equitable relief to
prevent or curtail any actual or threatened breach of the obligations relating to Confidential Information set forth in this Article 9 by the other Party. 
 ARTICLE 10 
 TERM AND TERMINATION 

10.1 Term. Unless earlier terminated as permitted by this Agreement, the term of this Agreement (the “Term”)
shall commence upon the Effective Date and continue in full force and effect until the completion of the Studies (including the delivery of all Study Data, case report forms, and analyses contemplated by the Development Plan). 

10.2 Termination. 
 (a) Termination by BMS or Pfizer. 
 (i) For Inability to Agree on
Development Plan that is Inconsistent with Regulatory Guidance. In the event that Portola is pursuing a deviation from the Development Plan, which deviation is inconsistent with Regulatory Authority guidance, and the Parties cannot reach
agreement with respect to such Development Plan pursuant to Section 3.3, this Agreement may 

  
 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. 

 
be terminated by BMS or Pfizer by providing written notice of termination to Portola (which termination will be effective immediately); 

(ii) For Convenience After First Anniversary. This Agreement may be terminated by BMS or Pfizer at any time subsequent to
the first anniversary of the Effective Date at its sole discretion and for any reason or no reason, by providing written notice of termination to Portola, which notice includes an effective date of termination at least sixty (60) days after the date
of the notice; provided that in such event, no payment shall be due and payable to Portola pursuant to Section 7.1(b) if the first dosing of a patient in the Clinical Trial has not occured prior to Portola’s receipt of such written notice
of termination or where such payment would otherwise accrue subsequent to the date of such notice (i.e. during the sixty (60) days subsequent to such notice but prior to the effective date of such termination); 

(iii) For Portola Bankruptcy. This Agreement may be terminated by BMS or Pfizer immediately, by providing written notice of
termination to Portola, upon Portola’s filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors by Portola;
provided, however, that in the case of any involuntary bankruptcy proceeding such right to terminate shall only become effective if Portola consents to the involuntary bankruptcy or such proceeding is not dismissed within ninety (90) days
after the filing thereof. 
 (iv) For Portola Change of Control. This Agreement may be terminated by BMS or
Pfizer immediately, by providing written notice of termination to Portola, upon a Portola Change of Control. For the purpose of this Agreement, a “Portola Change of Control” means (1) a merger, reorganization or consolidation of
Portola with any entity that is not an Affiliate of Portola as of the Effective Date, which results in the voting securities of Portola outstanding immediately prior thereto ceasing to represent at least fifty percent (50%) of the combined voting
power of the surviving entity immediately after such merger, reorganization or consolidation, (b) any entity that is not an Affiliate of Portola as of the Effective Date becoming the beneficial owner of fifty percent (50%) or more of the combined
voting power of the outstanding securities of Portola or (c) the sale or other transfer to any entity that is not an Affiliate of Portola as of the Effective Date of all or substantially all of Portola’s business or assets to which this
Agreement relates; provided, however, that a Portola Change of Control shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by Portola or any successor, or
indebtedness of Portola is cancelled or converted, or a combination thereof; provided, further, that a Portola Change of Control shall not include any reincorporation, merger or consolidation effected exclusively for the purpose of changing the
domicile of Portola to another jurisdiction. 
 (b) Termination by Either Party. 

(i) For Uncured Material Breach. This Agreement may be terminated by BMS or Pfizer, on the one hand, or Portola, on the other
hand, immediately, by providing written notice of termination to the other Party, if the other Party materially breaches its obligations under this Agreement and, after receiving written notice identifying such material breach in reasonable detail,
fails to cure such material breach within [*] from the date of such notice. If the allegedly breaching Party in good faith disputes such material breach or disputes the failure to cure or remedy such material breach and provides written notice of
that dispute to the other Party within such [*] period, the matter will be addressed under the dispute resolution provisions in Section 13.6, and the notifying Party may not terminate this Agreement until it has been determined under
Section 13.6 that the allegedly breaching Party is in material breach of this Agreement, and such breaching Party further fails to cure such material breach within [*] after the conclusion of that dispute resolution procedure (and such
termination shall then be effective upon written notification from the notifying Party to the breaching Party). For the purpose of this Section 10.2(b), material breach shall include Portola’s failure to provide adequate cGMP–grade
PRT064445 as required for the conduct the Studies or cross reference to Portola’s regulatory materials, and BMS’ failure to provide adequate cGMP-grade Apixaban or cross reference to Apixaban’s regulatory materials as required for the
conduct of the Studies. 
 (ii) For Material Safety Issues. The Studies (and consequently this Agreement) may be
terminated by either Party immediately, by providing written notice of 

  
 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. 

 
termination to the other Party, if there is a material safety issue identified with respect to PRT064445 or when used as an antidote to Apixaban. 

10.3 Effect of Termination. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing
prior to such expiration or termination. Without limiting the foregoing, the provisions of Sections [*] and [*] shall survive the expiration or termination of this Agreement; provided, however, that if as a result of termination [*], then only the
provisions of Sections [*] and [*] shall survive (for clarity, the foregoing survival provisions, to the extent applicable to data, results, records and inventions, shall apply only to [*] and [*] and [*], if as a result of termination [*]).

 10.4 Termination Not Sole Remedy. Termination is not the sole remedy under this Agreement and, whether or not
termination is effected and notwithstanding anything contained in this Agreement to the contrary, all other remedies will remain available except as agreed to otherwise herein. 
 ARTICLE 11 
 REPRESENTATIONS AND WARRANTIES AND COVENANTS 

11.1 Representations and Warranties of Each Party. Each Party represents and warrants to the other Party as of the Effective Date
that: 
 (a) it has the full right, power and authority and the legal right to enter into this Agreement, to perform its
obligations hereunder; 
 (b) this Agreement has been duly executed by it and is legally binding upon it, enforceable in
accordance with its terms (subject to the general principles of equity and to bankruptcy, insolvency, moratorium and other similar Applicable Laws affecting the enforcement of creditors’ rights generally), and does not conflict with any
agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it;
and 
 (c) it has communicated to the other Party any written notices from Third Parties to the effect that the use or
sale of PRT064445 infringes the intellectual property rights of any Third Party. 
 11.2 Representation by Portola.
Portola represents that it has disclosed to BMS and Pfizer the material contents of any relevant interactions with any Regulatory Authority(ies) that relate to the proposed Study or that could have a material adverse impact on the ability of the
Parties to conduct the Study or to seek regulatory approval for use of PRT064445 with Apixaban. 
 11.3 Representation by
BMS. BMS represents that it Controls all of the Patent Rights and Know-How owned by BMS or generated in the course of the BMS/Pfizer collaboration related to Apixaban which may be relevant to the licenses granted to Portola under this Agreement.

  
 23 

[*] = 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. 

 11.4 Covenants by Each Party. No Party shall enter into any agreement, instrument or
understanding, oral or written, which would conflict with its obligations or the rights granted to the other Party under this Agreement. 
 11.5 No Conflicts. Each Party represents and warrants that, to the best of its knowledge, 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 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. 
 11.6 No Debarment. Each Party hereby
certifies to the other that it has not used, and will not use the services of any person debarred under 21 U.S.C. 335a, as amended, in any capacity in connection with any of the services or work provided under the Development Plan conducted for or
on behalf of such Party or any of its Affiliates and that this certification may be relied upon in any applications to the Federal Food and Drug Administration or any other regulatory agency. It is understood and agreed that this certification
imposes a continuing obligation upon each Party to notify the other promptly of any change in the truth of this certification. 

11.7 Conduct of Development Plan. Each Party represents and warrants that it will conduct, and will cause its Affiliates and
sublicensees to conduct, the Studies in compliance with all Applicable Laws. 
 11.8 No Other Warranties. EXCEPT AS
EXPRESSLY STATED IN THIS ARTICLE 12, (A) NO REPRESENTATION, CONDITION OR WARRANTY WHATSOEVER IS MADE OR GIVEN BY OR ON BEHALF OF BMS, PFIZER OR PORTOLA; AND (B) ALL OTHER CONDITIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW
OR OTHERWISE, ARE HEREBY EXPRESSLY EXCLUDED, INCLUDING ANY CONDITIONS AND WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 
 ARTICLE 12 
 INDEMNIFICATION; LIABILITY 

12.1 Indemnification by Portola. Subject to Section 12.3, Portola shall indemnify and hold BMS, Pfizer, and their Affiliates
and sublicenses, and their respective officers, directors, agents and employees (“BMS/Pfizer Indemnitees”) harmless from and against any Claims against them to the extent arising or resulting from: 

(a) the negligence or willful misconduct of any of the Portola Indemnitees; 

(b) any breach of this Agreement by Portola; or 
 (c) the development, distribution, transfer, handling, use, administration, manufacture, storage or other exploitation of PRT064445; 

  
 24 

[*] = 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. 

 except in each case, to the extent such Claims result from the negligence or willful
misconduct of any BMS/Pfizer Indemnitees or any breach of this Agreement by BMS or Pfizer. 
 12.2 Indemnification by BMS and
Pfizer. Subject to Section 12.3, BMS and Pfizer, collectively, shall indemnify and hold Portola, its Affiliates, and their respective officers, directors, agents and employees (“Portola Indemnitees”) harmless from and
against any Claims against them to the extent arising or resulting from: 
 (a) the negligence or willful misconduct of
any of the BMS/Pfizer Indemnitees; 
 (b) the breach of this Agreement by BMS or Pfizer; or 

(c) the development, distribution, transfer, handling, use, administration, manufacture, storage or other exploitation of
Apixaban; 
 except in each case, to the extent such Claims result from the negligence or willful misconduct of any Portola
Indemnitees or any breach of this Agreement by Portola. 
 12.3 Shared Claims. Portola, on the one hand, and BMS and
Pfizer, on the other hand, shall [*] any Claim that (a) does not result from the negligence or willful misconduct of any Portola Indemnitee or BMS/Pfizer Indemnitee or breach of this Agreement by Portola or BMS or Pfizer; and (b) cannot be
traced solely to either Apixaban or PRT064445.  
 12.4 Indemnification Procedure. If any Party is seeking
indemnification under Sections 12.1 or 12.2 (the “Indemnified Party”), it shall inform the other Party (the “Indemnifying Party”) of the Claim giving rise to the obligation to indemnify pursuant to such section as
soon as reasonably practicable after receiving notice of the claim. The Indemnifying Party shall have the right to assume the defense of any such claim for which it is obligated to indemnify the Indemnified Party. The Indemnified Party shall
cooperate with the Indemnifying Party and the Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified Party shall have the right to participate, at
its own expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the Indemnifying Party. No Party shall have the obligation to indemnify the other Party in connection with any settlement made without the
Indemnified Party’s written consent, which consent shall not be unreasonably withheld or delayed. The Indemnified Party shall not settle any such Claim without the Indemnifying Party’s prior written consent. If the Parties cannot agree as
to the application of Section 12.1 or 12.2 as to any claim, pending resolution of the dispute pursuant to Section 13.6, the Parties may conduct separate defenses of such claims, with each Party retaining the right to claim indemnification
from the other Party in accordance with Section 12.1 or 12.2 upon resolution of the underlying claim.  
 12.5
Mitigation of Loss. Each Indemnified Party will take, and will ensure that its Affiliates take, all such reasonable steps and action as are reasonably necessary or as the Indemnifying Party may reasonably require in order to mitigate any Claims
(or potential losses or damages) under this Article 12. Nothing in this Agreement shall or shall be deemed to relieve any Party of any common law or other duty to mitigate any losses incurred by it. 

  
 25 

[*] = 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. 

 12.6 Special, Indirect and Other Losses. EXCEPT IN THE EVENT OF A PARTY’S BREACH
OF ITS OBLIGATIONS UNDER ARTICLE 9, NO PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR OTHERWISE FOR ANY SPECIAL, PUNITIVE, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, MULTIPLE OR OTHER INDIRECT
DAMAGES OR FOR LOSS OF PROFITS SUFFERED BY THE OTHER PARTY, EXCEPT TO THE EXTENT ANY SUCH DAMAGES ARE REQUIRED TO BE PAID TO A THIRD PARTY AS PART OF A CLAIM FOR WHICH A PARTY PROVIDES INDEMNIFICATION UNDER THIS ARTICLE 12. 

ARTICLE 13 

GENERAL PROVISIONS 
 13.1 Force Majeure. No Party shall be held liable to the other Party, nor be deemed to have defaulted under or breached this Agreement, for failure or delay in performing any obligation under this
Agreement to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, potentially including embargoes, war, acts of war (whether war be declared or not), acts of terrorism,
insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, fire, floods, or other acts of God, or acts, omissions or delays in acting by any governmental authority or the other Party or unavailability of materials related
to the manufacture of products. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably practical, and shall promptly undertake and continue diligently all reasonable efforts necessary to cure such
force majeure circumstances or to perform its obligations in spite of the ongoing circumstances. 
 13.2 Assignment. This
Agreement may not be assigned or otherwise transferred, nor may any right or obligation hereunder be assigned or transferred, by any Party without the prior written consent of the other Parties; provided, however, that, for clarity, each Party may
subcontract its rights and obligations as permitted by this Agreement. Notwithstanding the foregoing, any Party may, without consent of the other Parties, assign this Agreement and its rights and obligations hereunder in whole or in part to an
Affiliate of such Party, or in whole to its successor in interest in connection with the sale of all or substantially all of its stock or its assets to which this Agreement relates, or in connection with a merger, acquisition, reorganization, change
of control or similar transaction. Any attempted assignment not in accordance with this Section 13.2 shall be null and void and of no legal effect. Any permitted assignee shall assume all assigned obligations of its assignor under this
Agreement. The terms and conditions of this Agreement shall be binding upon, and shall inure to the benefit of, the Parties and their respective successors and permitted assigns. 

13.3 Severability. If any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of
the Parties. The Parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this
Agreement. 

  
 26 

[*] = 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. 

 13.4 Notices. All notices which are required or permitted hereunder shall be in
writing and sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by nationally-recognized overnight courier or sent by registered or certified
mail, postage prepaid, return receipt requested, addressed as follows: 
 If to Portola: 

Portola Pharmaceuticals, Inc. 
 270 East Grand Avenue, Suite 22 
 South San Francisco, CA 94080 

Attn: Chief Executive Officer 
 Fax: (650) 246-7376 
 with a copy to: 

Cooley LLP 

3175 Hanover Street 
 Palo Alto, CA 94304 
 Attn: Robert L. Jones, Esq. 

Fax: (650) 849-7400 
 If to BMS: 
 Bristol-Myers Squibb Company 

Route 206 & Province Line Road 
 Princeton, NJ 08543 
 Attn: Vice President, Business Development 

Fax: 609-252-7718 
 with a copy to: 
 Bristol-Myers Squibb Company 

Route 206 & Province Line Road 
 Princeton, NJ 08543 
 Attn: Vice President and Asst. General Counsel, Business
Development 
 Fax: 609-252-6019 
 If to Pfizer: 
 Pfizer Inc. 

235 East 42nd Street 
 New York, New York 10017-5755 
 Attention: Senior Vice President and Associate
General Counsel, 
 Business Transactions 
 Fax: 1-212-573-0768 
 with a copy to: 

Pfizer Inc. 
 235 East 42nd
Street 

  
 27 

[*] = 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. 

 
New York, New York 10017-5755 
 Attention: General Counsel 

Fax: 1-212-808-8924 
 or to such other address(es) as the Party to whom notice is to be given may have furnished to the other Party in writing in accordance herewith. Any such notice shall be deemed to have been given:
(a) when delivered if personally delivered or sent by facsimile on a business day (or if delivered or sent on a non-business day, then on the next business day); (b) on the business day after dispatch if sent by nationally-recognized
overnight courier; or (c) on the fifth (5th) business day following the date of mailing, if sent by mail. 
 13.5
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without reference to any rules of conflict of laws. 
 13.6 Dispute Resolution 
 (a) The Parties shall negotiate in good
faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related to this Agreement or the breach thereof, in accordance with this Agreement or otherwise in good faith. If the Parties do not so fully settle, and a
Party wishes to pursue the matter, each such dispute, controversy or claim that is not promptly resolved that is not an Excluded Claim (defined in Section 13.6(f) below), such dispute, controversy or claim shall be finally resolved by binding
arbitration administered by JAMS pursuant to JAMS’ Streamlined Arbitration Rules and Procedures then in effect (the “JAMS Rules”), and judgment on the arbitration award may be entered in any court having jurisdiction thereof.

 (b) The arbitration shall be conducted by a panel of three (3) persons experienced in the pharmaceutical
business: within [*] after initiation of arbitration, each Party shall select one person to act as arbitrator and the two Party-selected arbitrators shall select a third arbitrator within [*] of their appointment. If the arbitrators selected by the
Parties are unable or fail to agree upon the third arbitrator, the third arbitrator shall be appointed by JAMS. The place of arbitration shall be [*], and all proceedings and communications shall be in English. 

(c) Any Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the
controversy is otherwise resolved. Any Party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending
the arbitration award. The arbitrators shall have no authority to award punitive or any other type of damages not measured by a Party’s compensatory damages, except as provided in Section 13.6. Each Party shall bear its own costs and
expenses and attorneys’ fees and an equal share of the arbitrators’ fees and any administrative fees of arbitration. 

(d) Except to the extent necessary to confirm an award or as may be required by law, neither a Party nor an arbitrator may
disclose the existence, content or results of an arbitration without the prior written consent of both Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute,
controversy or claim would be barred by the applicable New York statute of limitations. 

  
 28 

[*] = 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) The Parties agree that, in the event of a dispute over the nature or quality of
performance under this Agreement, no Party may terminate this Agreement until final resolution of the dispute through arbitration or other judicial determination. The Parties further agree that any payments made pursuant to this Agreement pending
resolution of the dispute shall be refunded if an arbitrator or court determines that such payments are not due. 
 (f)
As used in this Section, the term “Excluded Claim” means a dispute, controversy or claim that concerns (a) the scope, validity, enforceability, inventorship or infringement of a patent, patent application, trademark or
copyright; or (b) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. Excluded Claims shall be determined by a court of competent jurisdiction. 

13.7 Entire Agreement; Amendments. This Agreement, together with the Schedules and Exhibits hereto, contains the entire
understanding of the Parties with respect to the subject matter hereof. Any other express or implied agreements and understandings, negotiations, writings and commitments, either oral or written, in respect to the subject matter hereof are
superseded by the terms of this Agreement. The Schedules and Exhibits to this Agreement are incorporated herein by reference and shall be deemed a part of this Agreement. This Agreement may be amended, or any term hereof modified, only by a written
instrument duly executed by authorized representative(s) of both Parties. The Parties agree that, effective as of the Effective Date, that certain 3-Way Confidential Disclosure Agreement among the Parties dated as of [*] (“Confidentiality
Agreement”) shall be superseded by this Agreement, and that disclosures made prior to the Effective Date pursuant to the Confidentiality Agreement shall be subject to the confidentiality and non-use provisions of this Agreement. 

13.8 Headings. The captions to the several Articles, Sections and subsections hereof are not a part of this Agreement, but are
merely for convenience to assist in locating and reading the several Articles and Sections hereof. 
 13.9 Independent
Contractors. It is expressly agreed that Portola, BMS and Pfizer shall be independent contractors and that the relationship between the three Parties shall not constitute a partnership, joint venture or agency. No Party shall be the agent of the
other or have any authority to act for, or on behalf of, any other Party in any matter. No Party shall have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on any other
Party, without the prior written consent of such other Party. 
 13.10 Waiver. The waiver by any Party hereto of any
right hereunder, or of any failure of the other Party to perform, or of any breach by the other Party, shall not be deemed a waiver of any other right hereunder or of any other breach by or failure of such other Party whether of a similar nature or
otherwise. 
 13.11 Cumulative Remedies. No remedy referred to in this Agreement is intended to be exclusive, but each
shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 

13.12 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the review,
drafting and negotiation of this Agreement. 

  
 29 

[*] = 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. 

 
Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply. 

13.13 Business Day Requirements. In the event that any notice or other action or omission is required to be taken by a Party under
this Agreement on a day that is not a business day then such notice or other action or omission shall be deemed to required to be taken on the next occurring business day. “[B][b]usiness [D][d]ay” means a day other than Saturday or Sunday
on which the banks in San Francisco, California and New York City, New York are open for business. 
 13.14 Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 30 

[*] = 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 intending to be bound have caused this Agreement to be
executed by their duly authorized representatives. 
  

									
	Bristol-Myers Squibb Company	  		  	Portola Pharmaceuticals, Inc.
					
	By:	 	 /s/ Graham R. Braizer
	  		  	By:	  	 /s/ William Lis

					
	Name:	 	 Graham R. Brazier
	  		  	Name:	  	 William Lis

					
	Title:	 	 Vice President
	  		  	Title:	  	 C.E.O.

		 	 Strategic Transaction Group
	  		  		  	
				
	Pfizer Inc.	  		  		  	
					
	By:	 	 /s/ Steven J. Romano, MD
	  		  		  	
					
	Name:	 	 Steven J. Romano, MD
	  		  		  	
					
	 Title:
	 	 SVP, Head Medicines

Development Group
 Primary Care, Pfizer
	  		  		  	

 [SIGNATURE PAGE OF THE
CLINICAL COLLABORATION AGREEMENT BY AND AMONG 
 PORTOLA PHARMACEUTICALS, INC., BRISTOL-MYERS SQUIBB COMPANY AND
PFIZER, INC.] 

  
 [*] = 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. 

 List of Schedules and Exhibits 

 

			
	Schedule 1.2	  	Chemical structure of Apixaban
	Schedule 1.29	  	Chemical structure of PRT064445
	Schedule 9.4	  	[*]
		
	Exhibit A	  	Initial Development Plan

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

			
	Schedule 1.2	  	Chemical structure of Apixaban
		
	[*]	  	

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

			
	Schedule 1.29	  	Chemical structure of PRT064445
		
	[*]	  	

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

 Schedule 9.4 
 [*] 

  
 [*] = 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. 

			
	Exhibit A	  	Initial Development Plan
		
	[*]	  	

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.EX-10.13

 Exhibit 10.13 
 LEASE 
  

					
	Landlord:	 		 	Britannia Pointe Grand Limited Partnership
			
	Tenant:	 		 	Portola Pharmaceuticals, Inc.
			
	Date:	 		 	December 15, 2006

 TABLE OF CONTENTS 
  

											
	1.	    	PROPERTY	  	 	1	  
		    	1.1	    	Lease of Premises	  	 	1	  
		    	1.2	    	Landlord’s Reserved Rights	  	 	1	  
	2.	    	TERM	  	 	2	  
		    	2.1	    	Term	  	 	2	  
		    	2.2	    	Early Possession	  	 	2	  
		    	2.3	    	Possible Delayed Possession of Decommissioning Space	  	 	2	  
		    	2.4	    	Acknowledgment of Rent Commencement Date	  	 	3	  
		    	2.5	    	Holding Over	  	 	3	  
		    	2.6	    	Option To Extend Term	  	 	3	  
	3.	    	RENTAL	  	 	4	  
		    	3.1	    	Minimum Rental	  	 	4	  
		    		    	(a)	  	Rental Amounts	  	 	4	  
		    		    	(b)	  	Rental Amounts During Extended Term	  	 	4	  
		    		    	(c)	  	Square Footage of Premises	  	 	4	  
		    	3.2	    	Late Charge	  	 	4	  
	4.	    	WARRANTS	  	 	5	  
		    	4.1	    	Issuance of Warrants	  	 	5	  
	5.	    	CONSTRUCTION; CONDITION OF PREMISES	  	 	5	  
		    	5.1	    	Construction; Tenant Improvement Allowance	  	 	5	  
		    	5.2	    	Condition of Premises	  	 	6	  
		    	5.3	    	Compliance with Law	  	 	7	  
	6.	    	TAXES	  	 	7	  
		    	6.1	    	Personal Property	  	 	7	  
		    	6.2	    	Real Property	  	 	7	  
	7.	    	OPERATING EXPENSES	  	 	8	  
		    	7.1	    	Payment of Operating Expenses	  	 	8	  
		    	7.2	    	Definition of Operating Expenses	  	 	8	  
		    	7.3	    	Determination of Operating Expenses	  	 	9	  
		    	7.4	    	Final Accounting for Lease Year	  	 	9	  
		    	7.5	    	Proration	  	 	10	  
	8.	    	UTILITIES	  	 	10	  
		    	8.1	    	Payment	  	 	10	  
		    	8.2	    	Interruption	  	 	10	  
	9.	    	ALTERATIONS; SIGNS	  	 	11	  
		    	9.1	    	Right to Make Alterations	  	 	11	  
		    	9.2	    	Title to Alterations	  	 	11	  
		    	9.3	    	Tenant Trade Fixtures	  	 	12	  
		    	9.4	    	No Liens	  	 	12	  
		    	9.5	    	Signs	  	 	12	  
	10.	    	MAINTENANCE AND REPAIRS	  	 	13	  
		    	10.1	    	Landlord’s Obligation for Maintenance	  	 	13	  
		    	10.2	    	Tenant’s Obligation for Maintenance	  	 	13	  
		    		    	(a)	  	Good Order, Condition and Repair	  	 	13	  
		    		    	(b)	  	Landlord’s Remedy	  	 	13	  
		    		    	(c)	  	Condition upon Surrender	  	 	13	  
	11.	    	USE OF PROPERTY	  	 	14	  
		    	11.1	    	Permitted Use	  	 	14	  
		    	11.2	    	[Intentionally Omitted.]	  	 	14	  

									
		    	11.3	    	No Nuisance	  	14
		    	11.4	    	Compliance with Laws	  	14
		    	11.5	    	Liquidation Sales	  	15
		    	11.6	    	Environmental Matters	  	15
	12.	    	INSURANCE AND INDEMNITY	  	19
		    	12.1	    	Insurance	  	19
		    	12.2	    	Quality of Policies and Certificates	  	21
		    	12.3	    	Workers’ Compensation; Employees	  	21
		    	12.4	    	Waiver of Subrogation	  	21
		    	12.5	    	Increase in Premiums	  	21
		    	12.6	    	Indemnification	  	21
		    	12.7	    	Blanket Policy	  	22
	13.	    	SUBLEASE AND ASSIGNMENT	  	22
		    	13.1	    	Assignment and Sublease of Building	  	22
		    	13.2	    	Rights of Landlord	  	23
	14.	    	RIGHT OF ENTRY AND QUIET ENJOYMENT	  	23
		    	14.1	    	Right of Entry	  	23
		    	14.2	    	Quiet Enjoyment	  	24
	15.	    	CASUALTY AND TAKING	  	24
		    	15.1	    	Damage or Destruction	  	24
		    	15.2	    	Condemnation	  	25
		    	15.3	    	Reservation of Compensation	  	26
		    	15.4	    	Restoration of Improvements	  	26
	16.	    	DEFAULT	  	26
		    	16.1	    	Events of Default	  	26
		    		    	(a)	  	Abandonment	  	26
		    		    	(b)	  	Nonpayment	  	26
		    		    	(c)	  	Other Obligations	  	27
		    		    	(d)	  	General Assignment	  	27
		    		    	(e)	  	Bankruptcy	  	27
		    		    	(f)	  	Receivership	  	27
		    		    	(g)	  	Attachment	  	27
		    		    	(h)	  	Insolvency	  	27
		    	16.2	    	Remedies upon Tenant’s Default	  	27
		    	16.3	    	Remedies Cumulative	  	28
	17.	    	SUBORDINATION, ATTORNMENT AND SALE	  	28
		    	17.1	    	Subordination to Mortgage	  	28
		    	17.2	    	Sale of Landlord’s Interest	  	29
		    	17.3	    	Estoppel Certificates	  	29
		    	17.4	    	Subordination to CC&R’s	  	29
		    	17.5	    	Mortgagee Protection	  	30
	18.	    	SECURITY	  	30
		    	18.1	    	No Security Deposit	  	30
	19.	    	MISCELLANEOUS	  	30
		    	19.1	    	Notices	  	30
		    	19.2	    	Successors and Assigns	  	31
		    	19.3	    	No Waiver	  	31
		    	19.4	    	Severability	  	31
		    	19.5	    	Litigation between Parties	  	32
		    	19.6	    	Surrender	  	32
		    	19.7	    	Interpretation	  	32
		    	19.8	    	Entire Agreement	  	32
		    	19.9	    	Governing Law	  	32
		    	19.10	    	No Partnership	  	32
		    	19.11	    	Financial Information	  	32
		    	19.12	    	Costs	  	33
		    	19.13	    	Time	  	33
		    	19.14	    	Rules and Regulations	  	33
		    	19.15	    	Brokers	  	33
		    	19.16	    	Memorandum of Lease	  	33
		    	19.17	    	Organizational Authority	  	33
		    	19.18	    	Execution and Delivery	  	33

  
 -ii-

											
		    	19.19	    	Survival	  	 	33	  
		    	19.20	    	Parking	  	 	33	  

  

							
	EXHIBITS	  		  	
				
		  	EXHIBIT A	  	Descriptions of Phase I Property and Center	  	
				
		  	EXHIBIT A-1	  	Depiction of Phase I Property	  	
				
		  	EXHIBIT B-1	  	Site Plan (The Center)	  	
				
		  	EXHIBIT B-2	  	Decommissioning Space	  	
				
		  	EXHIBIT C	  	Acknowledgment of Rent Commencement Date	  	
				
		  	EXHIBIT D	  	Form of Warrant	  	

  
 -iii-

 LEASE 
 THIS LEASE (“Lease”) is made and entered into as of December 15, 2006 (the “Lease Commencement Date”), by and between BRITANNIA POINTE GRAND LIMITED
PARTNERSHIP, a Delaware limited partnership (“Landlord”), and PORTOLA PHARMACEUTICALS, INC, a Delaware corporation (“Tenant”). 
 THE PARTIES AGREE AS FOLLOWS: 
 1. PROPERTY 

1.1 Lease of Premises. 
 (a) Landlord leases to Tenant and Tenant hires and leases from Landlord, on the terms, covenants and conditions hereinafter set forth, the premises (the “Premises”) consisting of
24,725 square feet of space located on the first and second floors of Building G (the “Building”) in the Britannia Pointe Grand Business Park (the “Center”) in the City of South San Francisco,
County of San Mateo, State of California, commonly known as 270 East Grand Avenue, Suite 52. The location of the Premises within the Building and Center is depicted on the site plan attached hereto as Exhibit B-1 and incorporated
herein by this reference (the “Site Plan”). The real property constituting the entire Center is more particularly described under the heading “The Center” in Exhibit A attached hereto and incorporated
herein by this reference and is depicted in Exhibit A-1 attached hereto and incorporated herein by this reference. The portion of the Center in which the Building is located, consisting of a total of four existing buildings (commonly
known as 250, 256, 260 and 270 East Grand Avenue) and related site improvements, is more particularly described under the heading “The Phase I Property” in Exhibit A attached hereto and depicted as such in
Exhibit A-1 attached hereto (the “Phase I Property”). The parking areas, driveways, sidewalks, landscaped areas and other portions of the Center that lie outside the exterior walls of the buildings now or
hereafter existing from time to time in the Center, as depicted in Exhibit A-1 and in the Site Plan and as hereafter modified by Landlord from time to time in accordance with the provisions of this Lease, are sometimes referred to
herein as the “Common Areas.” 
 (b) As an appurtenance to Tenant’s leasing of the Premises
pursuant to Section 1.1(a), Landlord hereby grants to Tenant, for the benefit of Tenant and its employees, suppliers, shippers, customers and invitees, during the term of this Lease, the non-exclusive right to use, in common with others
entitled to such use, (i) those portions of the Common Areas improved from time to time for use as parking areas, driveways, sidewalks, landscaped areas, or for other common purposes, and (ii) all access easements and similar rights and
privileges relating to or appurtenant to the Center and created or existing from time to time under any access easement agreements, declarations of covenants, conditions and restrictions, or other written agreements now or hereafter of record with
respect to the Center, subject however to any limitations applicable to such rights and privileges under applicable law, under this Lease and/or under the written agreements creating such rights and privileges. 

1.2 Landlord’s Reserved Rights. To the extent reasonably necessary to permit Landlord to exercise any rights of Landlord and
discharge any obligations of Landlord under this Lease, Landlord shall have, in addition to the right of entry set forth in Section 14.1 hereof, the following rights: (i) to make changes to the Common Areas, including, without limitation,
changes in the location, size or shape of any portion of the Common Areas, and to construct and/or relocate parking structures and/or parking spaces in the Center; (ii) to close temporarily any of the Common Areas for maintenance or other
reasonable purposes; (iii) to construct, alter or add to other buildings and Common Area improvements in the Center; (iv) to use the Common Areas while engaged in making additional improvements, repairs or alterations to the Center or any
portion thereof; and (v) to do and perform such other acts with respect to the Common Areas and the Center as may be necessary or appropriate. Landlord shall not exercise rights reserved to it pursuant to this Section 1.2 in such as manner
as to cause any material diminution of Tenant’s rights, or any material increase of Tenant’s obligations, under this Lease, or in such a manner as to leave Tenant without reasonable parking or reasonable access to the Premises or otherwise
to materially impair Tenant’s ability to conduct its activities in the normal manner; provided, however, that the foregoing shall not limit or restrict Landlord’s right to 

 
undertake reasonable construction activity and Tenant’s use of the Premises shall be subject to reasonable temporary disruption incidental to such activity diligently prosecuted. 

2. TERM 

2.1 Term. The term of this Lease shall commence on the Lease Commencement Date as defined above. Tenant’s obligation to pay
minimum rental and Operating Expenses under this Lease shall commence on the date (the “Rent Commencement Date”) that is the later to occur of (i) January 1, 2007 or (ii) the date the Landlord delivers the
Premises to Tenant in the condition required by Sections 5.2 and 5.3 below and notifies Tenant in writing that Landlord’s work under Sections 5.2 and 5.3 below is complete. The term of this Lease shall end on June 30, 2009 (the
“Termination Date”), unless sooner terminated or extended as hereinafter provided. 
 2.2 Early
Possession. Tenant shall have the nonexclusive right to enter, occupy and use the Premises from and after the date Landlord notifies Tenant in writing that the Premises are available for such early access by Tenant (the “Early Access
Date”), for the purpose of constructing tenant improvements in the Premises (subject to all the terms and conditions of Articles 5 and 9 below), installing fixtures and furniture, laboratory equipment, computer equipment, telephone
equipment, low-voltage data wiring and personal property and performing other similar work preparatory to the commencement of Tenant’s business in the Premises. Landlord agrees to cause the Early Access Date to occur in all events no later than
December 15, 2006. Tenant’s early occupancy and possession of the Premises under this Section 2.2 shall be subject to and upon all of the terms and conditions of this Lease (including, but not limited to, conditions relating to the
maintenance of required insurance, payment of utilities and payment of Operating Expenses), except that (a) Tenant shall have no obligation to pay minimum rental for any period prior to the Rent Commencement Date, and such early possession for
the limited purposes described in this Section 2.2 shall not advance or otherwise affect the determination of the Rent Commencement Date or Termination Date as determined under Section 2.1; and (b) to the extent Tenant’s early
access and work in the Premises pursuant to this Section 2.2 is limited to less than the entire Premises, Tenant’s obligation for payment of Operating Expenses for the period prior to the Rent Commencement Date shall be reduced in
proportion to the percentage of the square footage of the Premises that constitutes space not affected by Tenant’s early access and work in the Premises pursuant to this Section 2.2. To the extent Landlord and/or its contractors are also
performing any work in the Premises prior to the Rent Commencement Date, Tenant shall not unreasonably interfere with or delay Landlord’s contractors by any early access, occupancy or possession under this Section 2.2, shall coordinate and
cooperate with Landlord and its contractors (who shall similarly coordinate and cooperate with Tenant and its contractors) to minimize any interference or delay by either party with respect to the other party’s work following mutual execution
of this Lease, and shall indemnify, defend and hold harmless Landlord and its agents and employees from and against any and all claims, demands, liabilities, actions, losses, costs and expenses, including (but not limited to) reasonable
attorneys’ fees, arising out of or in connection with Tenant’s early entry upon the Premises and Center hereunder. 

2.3 Possible Delayed Possession of Decommissioning Space. Landlord has advised Tenant that the preceding tenant of the Premises,
AGY Therapeutics, Inc., assigned all of its assets to an assignee for the benefit of creditors (the “Prior Tenant Assignee”); that the Prior Tenant Assignee has been pursuing remediation work (if any) and paperwork necessary
in order to secure certain regulatory clearances and releases with respect to certain portions of the Premises affected by such preceding tenant’s use of certain radioactive materials and/or other hazardous materials in the course of such
preceding tenant’s business in the Premises; and that Tenant may not be permitted to have access to and use of certain areas of the Premises which are the subject of such efforts by the Prior Tenant Assignee and are depicted on Exhibit
B-2 attached hereto (the “Decommissioning Space”) until Landlord notifies Tenant in writing that all necessary regulatory clearances and releases have been received and that the Decommissioning Space is available for
occupancy and use by Tenant. Landlord represents to Tenant that to the best of Landlord’s knowledge, the area of the Decommissioning Space is less than 2,000 square feet. Tenant agrees to provide Landlord and the Prior Tenant Assignee with
access to the Premises and the Decommissioning Space from time to time, upon reasonable prior notice and request, for the purpose of any remaining on-site work and/or inspections necessary in connection with the obtaining of such regulatory
clearances and releases, and agrees that any 

  
 - 2 -

 
inconvenience caused by such access and/or by the unavailability of the Decommissioning Space for occupancy and use by Tenant prior to receipt of the necessary regulatory clearances and releases
shall not be deemed a breach of any of Tenant’s rights under this Lease nor result in any reduction or abatement of Tenant’s obligations (including, but not limited to, obligations for payment of minimum rent, utilities and Operating
Expenses) under this Lease; provided, however, that if the Decommissioning Space has not been fully turned over to Tenant, with all necessary regulatory clearances and releases having been obtained and with no continuing restriction on
Tenant’s use or occupancy of the Decommissioning Space (other than restrictions generally applicable to all of the Premises under this Lease and/or under applicable law), on or before the date Tenant’s monthly minimum rental obligation
under Section 3.1(a) of this Lease begins to be calculated on the entire square footage of the Premises rather than on a portion of the square footage of the Premises (the “Fully Loaded Rent Date”), then Tenant shall be
entitled to an abatement of minimum rent, in proportion to the ratio which the area of the Decommissioning Space still subject to restrictions on Tenant’s use or occupancy thereof bears to the entire square footage of the Premises, from the
Fully Loaded Rent Date until the date the Decommissioning Space is fully turned over to Tenant in the condition described above in this proviso. 
 2.4 Acknowledgment of Rent Commencement Date. Promptly following the Rent Commencement Date, Landlord and Tenant shall execute a written acknowledgment of the Rent Commencement Date, Termination
Date and related matters, substantially in the form attached hereto as Exhibit C (with appropriate insertions), which acknowledgment shall be deemed to be incorporated herein by this reference. Notwithstanding the foregoing
requirement, the failure of either party to execute such a written acknowledgment shall not affect the determination of the Rent Commencement Date, Termination Date and related matters in accordance with the provisions of this Lease. 

2.5 Holding Over. If Tenant holds possession of the Premises or any portion thereof after the term of this Lease with
Landlord’s written consent, then except as otherwise specified in such consent, Tenant shall become a tenant from month to month at one hundred twenty-five percent (125%) of the minimum rental and otherwise upon the terms herein specified
for the period immediately prior to such holding over and shall continue in such status until the tenancy is terminated by either party upon not less than thirty (30) days prior written notice. If Tenant holds possession of the Premises or any
portion thereof after the term of this Lease without Landlord’s written consent, then Landlord in its sole discretion may elect (by written notice to Tenant) to have Tenant become a tenant either from month to month or at will, at one
hundred fifty percent (150%) of the minimum rental (prorated on a daily basis for an at-will tenancy, if applicable) and otherwise upon the terms herein specified for the period immediately prior to such holding over, or may elect to pursue any
and all legal remedies available to Landlord under applicable law with respect to such unconsented holding over by Tenant. Tenant shall indemnify and hold Landlord harmless from any loss, damage, claim, liability, cost or expense (including
reasonable attorneys’ fees) resulting from any delay by Tenant (other than with Landlord’s written consent) in surrendering the Premises or any portion thereof, including but not limited to any Claims made by a succeeding tenant by reason
of such delay. Acceptance of rent by Landlord following expiration or termination of this Lease shall not constitute a renewal of this Lease. 
 2.6 Option To Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and otherwise upon all the terms and provisions set
forth herein with respect to the initial term of this Lease, for one (1) additional period of two (2) years, commencing upon the expiration of the initial term hereof. Exercise of such option shall be by written notice to Landlord at least
nine (9) months and not more than twelve (12) months prior to the expiration of the initial term hereof. If Tenant is in default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date the
extended term is to commence, then the exercise of the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect
pursuant to the default provisions of this Lease). If Tenant properly exercises the extension option under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed
to include the extension term thus elected by Tenant. Except as expressly set forth 

  
 - 3 -

 
in this Section 2.6, Tenant shall have no right to extend the term of this Lease beyond its prescribed term. 
 3. RENTAL 
 3.1 Minimum Rental. 

(a) Rental Amounts. Tenant shall pay to Landlord as minimum rental for the Premises, in advance, without deduction, offset, notice
or demand, on or before the Rent Commencement Date and on or before the first day of each subsequent calendar month of the initial term of this Lease, the following amounts per month: 

 

					
	 Months
	  	Monthly Minimum Rental	 
	 001 - 012
	  	 	$ 33,000.00 (12,000 sq ft @ $2.75/sq ft)	  
	 013 - 024
	  	 	70,446.25 (24,725 sq ft @ $2.85/sq ft)	  
	 025 - 030
	  	 	72,938.75 (24,725 sq ft @ $2.95/sq ft)	  

 If the obligation to pay minimum rental hereunder for the initial term or for any extended term commences on other than
the first day of a calendar month or if the initial term or any extended term of this Lease terminates on other than the last day of a calendar month, the minimum rental for such first or last month of the applicable initial or extended term of this
Lease, as the case may be, shall be prorated based on the number of days the applicable term of this Lease is in effect during such month. If an increase in minimum rental becomes effective on a day other than the first day of a calendar month, the
minimum rental for that month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is in effect. 
 (b) Rental Amounts During Extended Term. If Tenant properly exercises its right to extend the term of this Lease pursuant to Section 2.6 hereof, the monthly minimum rental during the extended
term shall be as follows, reflecting three percent (3%) annual increases over the minimum rental payable during the final month of the initial term (“months” in the following table are measured from the original Rent Commencement
Date): 
  

					
	 Months
	  	Monthly Minimum Rental	 
	 031 – 042
	  	 	$ 75,126.91 (24,725 sq ft @ $3.0385/sq ft)	  
	 043 – 054
	  	 	77,380.72 (24,725 sq ft @ $3.1297/sq ft)	  

 (c) Square Footage of Premises. The Building and Premises were fully constructed prior to the
Lease Commencement Date, have been measured by Landlord’s architect and, applying the measurement formula customarily used by Landlord to measure square footage of buildings in the Center, the Premises have been determined to contain 24,725
square feet, which measurement is final and binding on the parties, is hereby accepted by the parties for all purposes under this Lease and is not subject to remeasurement or adjustment. The square footage of 12,000 square feet used in
Section 3.1(a) in calculating the monthly minimum rental for Months 1 through 12, in being less than the entire square footage of the Premises, is not meant to imply any limitation on Tenant’s right or ability to use the entire Premises
during suth months, and shall not affect in any way the calculation of Tenant’s Operating Cost Share under Article 7 below (which shall be based on the entire square footage of the Premises throughout the term of this Lease, beginning on the
Rent Commencement Date); such reduced square footage in Section 3.1(a) merely represents a method of implementing an economic agreement between the parties with respect to the calculation of Tenant’s monthly minimum rental obligation
during Months 1 through 12. 
 3.2 Late Charge. If Tenant fails to pay when due rental or other amounts due Landlord
hereunder, such unpaid amounts shall bear interest for the benefit of Landlord at a rate equal to the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law, from the date due to the date of actual payment. In addition
to such interest, Tenant shall pay to Landlord a late charge in an amount equal to six percent (6%) of any installment of minimum rental and any other amounts due Landlord if not paid in full on or before the fifth (5th) day after such
rental or other amount is due. Tenant acknowledges that late payment by Tenant to 

  
 - 4 -

 
Landlord of rental or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, including, without limitation, processing and accounting charges and late
charges which may be imposed on Landlord by the terms of any loan relating to the Center. Tenant further acknowledges that it is extremely difficult and impractical to fix the exact amount of such costs and that the late charge set forth in this
Section 3.2 represents a fair and reasonable estimate thereof. Acceptance of any late charge by Landlord shall not constitute a waiver of Tenant’s default with respect to overdue rental or other amounts, nor shall such acceptance prevent
Landlord from exercising any other rights and remedies available to it. Acceptance of rent or other payments by Landlord shall not constitute a waiver of late charges or interest accrued with respect to such rent or other payments or any prior
installments thereof, nor of any other defaults by Tenant, whether monetary or non-monetary in nature, remaining uncured at the time of such acceptance of rent or other payments. 

4. WARRANTS 
 4.1 Issuance of Warrants. Concurrently with the mutual execution of this Lease, Tenant shall issue and deliver to Landlord or Landlord’s designees (which may be any members, partners,
shareholders or affiliates of Landlord or any affiliates of any such members, partners, shareholders or affiliates of Landlord, provided any such designee is an “accredited investor” within the meaning of Rule 501 of Regulation D
promulgated by the Securities and Exchange Commission, as then in effect) a warrant or warrants (collectively, the “Warrants”) registered in the name of Landlord or Landlord’s designee(s) to purchase an aggregate of
Fifteen Thousand (15,000) shares of Tenant’s common stock, which Warrants shall be in the form of Exhibit D attached hereto. The Warrants shall have an exercise price equal to $1.31 per share and shall be exercisable for a
period beginning on the date of issuance and ending on the seventh (7th) anniversary of the closing of the initial public offering of Tenant’s common stock pursuant to a registration statement declared effective under the Securities Act of 1933, as amended.

 5. CONSTRUCTION; CONDITION OF PREMISES 
 5.1 Construction; Tenant Improvement Allowance. Except to the extent (if any) required for compliance with Sections 5.2 and 5.3 below, Landlord is delivering the Premises to Tenant “AS
IS,” in their presently existing condition as of the Lease Commencement Date, and shall have no obligation to improve or clean the Premises for Tenant’s occupancy hereunder or to make any repairs or alterations in the Premises in
anticipation of Tenant’s occupancy hereunder. Landlord shall, however, make available for Tenant a tenant improvement allowance (the “Tenant Improvement Allowance”) in the amount of up to Fifty Thousand and No/100
Dollars ($50,000.00) to pay or reimburse Tenant’s Cost of Improvements for making tenant improvements in the Premises. The Tenant Improvement Allowance shall not be used or useable by Tenant for any moving or relocation expenses of Tenant, or
for any cost or expense associated with any moveable furniture, trade fixtures, personal property or any other item or element which, under the applicable provisions of this Lease, will not become Landlord’s property and remain with the
Building upon expiration or termination of this Lease, provided that nothing in this sentence shall be deemed to limit the scope of the definition of “Cost of Improvement” in Section 5.1(a) below as applied to items for which the
Tenant Improvement Allowance is permitted to be used under the provisions of this Agreement. Any portion of the Tenant Improvement Allowance which has not been claimed or drawn by Tenant within twelve (12) months after the Rent Commencement
Date shall expire and shall no longer be available to Tenant thereafter. The Cost of Improvements for any alterations or improvements made by Tenant in the Premises which are not eligible for expenditure of Tenant Improvement Allowance funds, and
any amount by which the Cost of Improvements for any alterations or improvements made by Tenant exceeds the Tenant Improvement Allowance, shall be Tenant’s sole cost and expense. The Tenant Improvement Allowance is provided as part of the basic
consideration to Tenant under this Lease and will not result in any rental adjustment or additional rent beyond the rental amounts expressly provided in Section 3.1 hereof Tenant’s construction of improvements and the funding of the Tenant
Improvement Allowance shall be governed by the following additional provisions: 
 (a) “Cost of
Improvement” shall mean, with respect to any item or component for which a cost must be determined for purposes of this Section 5.1, the sum of the following (unless otherwise agreed in writing by Landlord and Tenant with respect
to any specific item or component or any category of items or components): (i) all sums paid to 

  
 - 5 -

 
contractors or subcontractors for labor and materials furnished in connection with construction of such item or component; (ii) all costs, expenses, payments, fees and charges (other than
penalties) paid or incurred to or at the direction of any city, county or other governmental or quasi-governmental authority or agency which are required to be paid in order to obtain all necessary governmental permits, licenses, inspections and
approvals relating to construction of such item or component; (iii) engineering and architectural fees for services rendered in connection with the design and construction of such item or component (including, but not limited to, the architect
for such item or component and an electrical engineer, mechanical engineer and civil engineer, to the extent applicable); (iv) sales and use taxes; (v) testing and inspection costs; (vi) the cost of power, water and other utility
facilities and the cost of collection and removal of debris required in connection with construction of such item or component; and (vii) all other “hard” costs incurred in the construction of such item or component in accordance with
the provisions of this Section 5.1 and of Article 9 below. 
 (b) Tenant’s initial construction of tenant improvements
in the Premises shall be conducted in compliance with all applicable provisions of Article 9 below, including (but not limited to) all applicable provisions relating to approval of plans and specifications and approval of contractors and
subcontractors by Landlord. 
 (c) The funding of the Tenant Improvement Allowance by Landlord to pay or reimburse the Cost of
Improvements for tenant improvements eligible for the expenditure of Tenant Improvement Allowance Funds shall be made on a monthly basis or at other convenient intervals mutually approved by Landlord and Tenant and shall be based on such
commercially reasonable disbursement conditions and procedures as Landlord and Landlord’s project manager may reasonably prescribe (which conditions may include, without limitation, delivery of invoices, architect’s certifications and/or
other evidence reasonably satisfactory to Landlord or its project manager that expenses have been incurred for the design and construction of alterations and improvements for which the Tenant Improvement Allowance is eligible to be expended or
applied, and delivery of conditional or unconditional lien releases from all parties performing the applicable work). 
 (d)
Unless and until revoked by Landlord by written notice delivered to Tenant, Landlord hereby (i) designates Project Management Advisors, Inc. as Landlord’s project manager in connection with the performance of Landlord’s and
Tenant’s respective work in and about the Building and Premises pursuant to this Article 5, (ii) delegates to such project manager the authority to exercise all approval rights and other rights and powers of Landlord under this Lease with
respect to the design and construction of tenant improvements by Tenant, and (iii) requests that Tenant work with such project manager with respect to any logistical or other coordination matters arising in the course of construction of such
tenant improvements, including (but not limited to) reviewing and processing Tenant’s requests for disbursement of the Tenant Improvement Allowance, monitoring Tenant’s and Landlord’s compliance with their respective obligations under
this Lease with respect to the design and construction of such tenant improvements, and addressing any coordination issues that may arise from any concurrent performance of work by Landlord in or about the Premises while Tenant is constructing such
tenant improvements. Tenant acknowledges the foregoing delegation and request, and agrees to cooperate reasonably with such project manager as Landlord’s representative pursuant to such delegation and request. Notwithstanding the foregoing
provisions, neither Landlord’s delegation of authority to such project manager nor such project manager’s performance of the functions and responsibilities contemplated in this paragraph shall cause Landlord or such project manager to
incur any obligations or responsibilities for the design, construction or delivery of any tenant improvements, except to the extent of the specific obligations and responsibilities (if any) expressly set forth in this Lease. All fees payable to such
project manager with respect to its services pursuant to this Lease shall be borne solely by Landlord, and no such fees shall be chargeable to Tenant or chargeable against the Tenant Improvement Allowance. 

5.2 Condition of Premises. Landlord warrants to Tenant that on the Rent Commencement Date, the HVAC, plumbing and electrical
systems serving the Premises and the roof of the Premises shall be in good working order and repair. If this warranty is violated in any respect, then it shall be the obligation of Landlord, after receipt of written notice from Tenant setting forth
with specificity the nature of the violation, to correct promptly and diligently, at Landlord’s sole cost, the condition(s) constituting such violation. Tenant’s failure to give such

  
 - 6 -

 
written notice to Landlord within six (6) months after the Rent Commencement Date shall give rise to a conclusive presumption that Landlord has complied with all Landlord’s obligations
under this Section 5.2, except with respect to latent defects (as to which such 6-month limitation shall not apply). TENANT ACKNOWLEDGES THAT THE WARRANTY CONTAINED IN THIS SECTION IS IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, WITH
RESPECT TO THE PHYSICAL CONDITION OF THE PREMISES AND THAT LANDLORD MAKES NO OTHER WARRANTIES EXCEPT AS EXPRESSLY SET FORTH IN THIS LEASE. 
 5.3 Compliance with Law. Landlord warrants to Tenant that the Premises as they exist on the Rent Commencement Date, but without regard to the particular use for which Tenant will occupy the
Premises, shall not violate any covenants or restrictions of record or any applicable law, building code, regulation or ordinance in effect on the Rent Commencement Date. Tenant warrants to Landlord that any alterations and improvements constructed
by Tenant from time to time shall not violate any applicable law, building code, regulation or ordinance in effect on the Rent Commencement Date or at the time such improvements are placed in service. Without limiting the generality of the
foregoing, the parties acknowledge that Landlord shall be responsible for Americans with Disabilities Act (“ADA”) and building code compliance for all Common Areas and for all improvements existing in the Premises on the
Lease Commencement Date (except to the extent, if any, that any such ADA or building code compliance measures with respect to any Common Areas or existing improvements is required solely as a result of the design and/or construction of improvements
constructed by Tenant in the Premises and would not have been required in the absence of such construction of improvements by Tenant) and that Tenant shall be responsible for ADA and building code compliance required in connection with or as a
result of improvements constructed by Tenant. If it is determined that any of these warranties has been violated, then it shall be the obligation of the warranting party, after written notice from the other party, to correct the condition(s)
constituting such violation promptly, at the warranting party’s sole cost and expense. Tenant acknowledges that except as expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty as
to the present or future suitability of the Center, the Building or the Premises for the conduct of Tenant’s business or proposed business thereon. 
 6. TAXES 
 6.1 Personal Property. From and after the Rent
Commencement Date (or, in the case of items brought into the Center by Tenant prior to the Rent Commencement Date, from and after the date such items are brought into the Center by Tenant), Tenant shall be responsible for and shall pay prior to
delinquency all taxes and assessments levied against or by reason of (a) any and all alterations, additions and items existing, installed or placed on or in the Premises from time to time during the term of this Lease and taxed as personal
property rather than as real property, and/or (b) all personal property, trade fixtures and other property placed by Tenant on or about the Premises. Upon request by Landlord, Tenant shall furnish Landlord with satisfactory evidence of
Tenant’s payment thereof. If at any time during the term of this Lease any of said alterations, additions or personal property, whether or not belonging to Tenant, shall be taxed or assessed as part of the Center, then such tax or assessment
shall be paid by Tenant to Landlord within fifteen (15) days after presentation by Landlord of copies of the tax bills in which such taxes and assessments are included and shall, for the purposes of this Lease, be deemed to be personal property
taxes or assessments under this Section 6.1. 
 6.2 Real Property. To the extent any real property taxes and
assessments on the Premises are assessed directly to Tenant, Tenant shall be responsible for and shall pay prior to delinquency all such taxes and assessments levied against the Premises. Upon request by Landlord, Tenant shall furnish Landlord with
satisfactory evidence of Tenant’s payment thereof. To the extent the Premises are taxed or assessed to Landlord following the Rent Commencement Date, such real property taxes and assessments shall constitute Operating Expenses (as that term is
defined in Section 7.2 of this Lease) and shall be paid in accordance with the provisions of Article 7 of this Lease. 

  
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 7. OPERATING EXPENSES 

7.1 Payment of Operating Expenses. 
 (a) Tenant shall pay to Landlord, at the time and in the manner hereinafter set forth, as additional rental, Tenant’s Operating Cost Share of the Operating Expenses defined in Section 7.2,
subject to adjustment pursuant to Section 7.1(b) when applicable. For purposes of this Section 7.1, “Tenant’s Operating Cost Share” shall be: (i) in the case of Operating Expenses that are reasonably
allocable solely to the Phase I Property, thirteen and nine-tenths percent (13.9%); and (ii) in the case of Operating Expenses that are determined and allocated on a Center-wide basis, four and four-tenths percent (4.4%). As of the Lease
Commencement Date, Landlord represents that Landlord’s current practice is to determine and allocate all Operating Expenses (including, but not limited to, real and personal property taxes and assessments, insurance, building maintenance,
property management, landscape maintenance and irrigation, and parking area maintenance and lighting) on a stand-alone basis to the Phase I Property. 
 (b) Tenant’s Operating Cost Share as specified in Section 7.1(a) with respect to matters allocable to the Phase I Property is based upon an area of 24,725 square feet for the Premises and upon
an aggregate area of 177,938 square feet for all of the buildings presently located on the Phase I Property. Tenant’s Operating Cost Share as specified in Section 7.1(a) with respect to matters allocable to the entire Center is based upon
an area of 24,725 square feet for the Premises and upon an aggregate area of 562,859 square feet for all of the buildings presently located in the Center. If the actual area of the Premises or of any of the buildings existing from time to time in
the Phase I Property or in the Center changes for any reason other than a change in the method of measurement (including, but not limited to, any modification of existing buildings, construction of new buildings in the Center, or construction of new
buildings on any adjacent property owned by Landlord and operated, for common area purposes, on an integrated basis with the Center), then Tenant’s Operating Cost Share shall be adjusted proportionately to reflect the new actual areas of the
Premises and/or such other buildings, as applicable, as determined in good faith by Landlord’s architect on the same basis of measurement as applied in determining the existing square footages set forth in the first two sentences of this
paragraph (generally, measurement from the exterior faces of exterior walls and from the dripline of any overhangs). 
 7.2
Definition of Operating Expenses. 
 (a) Subject to the exclusions and provisions hereinafter contained and the allocation
principles set forth in Section 7.1, the term “Operating Expenses” shall mean the total costs and expenses incurred by or allocable to Landlord for management, operation and maintenance of the Building, the Phase I
Property and the Center, including, without limitation, costs and expenses of (i) insurance (which may include, at Landlord’s option, environmental and seismic insurance as part of or in addition to any casualty or property insurance
policy), property management, landscaping, and the operation, repair and maintenance of buildings and Common Areas; (ii) all utilities and services; (iii) real and personal property taxes and assessments or substitutes therefor levied or
assessed against the Center or any part thereof, including (but not limited to) any possessory interest, use, business, license or other taxes or fees, any taxes imposed directly on rents or services, any assessments or charges for police or fire
protection, housing, transit, open space, street or sidewalk construction or maintenance or other similar services from time to time by any governmental or quasi-governmental entity, and any other new taxes on landlords in addition to taxes now in
effect; (iv) supplies, equipment, utilities and tools used in management, operation and maintenance of the Center; (v) capital improvements to the Center or the improvements therein, amortized over the useful life thereof as determined in
good faith by Landlord’s accountants in accordance with applicable tax accounting principles or generally accepted accounting principles, consistently applied, (aa) which reduce or will cause future reduction of other items of Operating
Expenses for which Tenant is otherwise required to contribute or (bb) which are required by law, ordinance, regulation or order of any governmental authority or (cc) of which Tenant has use or which benefit Tenant; and (vi) any other costs
(including, but not limited to, any parking or utilities fees or surcharges not otherwise specifically addressed elsewhere in this Lease) allocable to or paid by Landlord, as owner of the Center, pursuant to any applicable laws, ordinances,
regulations or orders of any governmental or quasi-governmental authority or pursuant to the terms of any declarations of covenants, conditions and restrictions now or hereafter affecting the Center or any other property over

  
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which Tenant has non-exclusive usage rights as contemplated in Section 1.1(b) hereof. Operating Expenses shall not include any costs attributable to the initial construction of buildings or
Common Area improvements in the Center, nor any costs attributable to buildings the square footage of which is not taken into account in determining Tenant’s Operating Cost Share under Section 7.1 for the applicable period. The distinction
between items of ordinary operating maintenance and repair and items of a capital nature shall be made in accordance with generally accepted accounting principles applied on a consistent basis or in accordance with tax accounting principles, as
determined in good faith by Landlord’s accountants. 
 (b) Notwithstanding any other provisions of this Section 7.2,
the following shall not be included within Operating Expenses: (i) rent paid to any ground lessor; (ii) the cost of constructing tenant improvements for any other tenant of the Building or the Center; (iii) the costs of special
services, goods or materials provided to any other tenant of the Building or the Center and not offered or made available to Tenant; (iv) repairs covered by proceeds of insurance or from funds provided by Tenant or any other tenant of the
Center, or as to which any other tenant of the Center is obligated to make such repairs or to pay the cost thereof; (v) legal fees, advertising costs or other related expenses incurred by Landlord in connection with the leasing of space to
individual tenants of the Center; (vi) repairs, alterations, additions, improvements or replacements needed to rectify or correct any defects in the original design, materials or workmanship of the Building, the Center or the Common Areas;
(vii) damage and repairs necessitated by the negligence or willful misconduct of Landlord or of Landlord’s employees, contractors or agents; (viii) executive salaries or salaries of service personnel to the extent that such personnel
perform services other than in connection with the management, operation, repair or maintenance of the Building or the Center; (ix) Landlord’s general overhead expenses not related to the Building or the Center; (x) legal fees,
accountants’ fees and other expenses incurred in connection with disputes with tenants or other occupants of the Center, or in connection with the enforcement of the terms of any leases with tenants or the defense of Landlord’s title to or
interest in the Center or any part thereof; (xi) costs incurred due to a violation by Landlord or any other tenant of the Center of the terms and conditions of any lease; (xii) costs of any service provided to Tenant or to other occupants
of the Building or the Center for which Landlord is reimbursed other than through recovery of Operating Expenses; (xiii) personal property taxes due and payable by any other tenant of the Center; (xiv) costs incurred by Landlord pursuant
to Article 15 of this Lease in connection with an event of casualty or condemnation; and (xv) costs of remediation of any hazardous substances, hazardous wastes or pollutants, as defined in Section 11.6(a) of this Lease, it being the
intention of the parties that the responsibility for and allocation of the cost of any such remediation shall be governed by the provisions of Section 11.6 of this Lease and not by the Operating Expense provisions of this Article 7. 

7.3 Determination of Operating Expenses. On or before the Rent Commencement Date and during the last month of each calendar year
of the term of this Lease (“Lease Year”), or as soon thereafter as practical, Landlord shall provide Tenant notice of Landlord’s estimate of the Operating Expenses for the ensuing Lease Year or applicable portion
thereof. On or before the first day of each month during the ensuing Lease Year or applicable portion thereof, beginning on the Rent Commencement Date (or sooner, to the extent provided in Section 2.2 above with respect to earlier payment of
Operating Expenses under certain circumstances relating to Tenant’s early access to and performance of work in the Premises prior to the Rent Commencement Date), Tenant shall pay to Landlord Tenant’s Operating Cost Share of the portion of
such estimated Operating Expenses allocable (on a prorata basis) to such month; provided, however, that if such notice is not given in the last month of a Lease Year, Tenant shall continue to pay on the basis of the prior year’s
estimate, if any, until the month after such notice is given. If at any time or times it reasonably appears to Landlord that the actual Operating Expenses will vary from Landlord’s estimate by more than five percent (5%), Landlord may, by
notice to Tenant, revise its estimate for such year and subsequent payments by Tenant for such year shall be based upon such revised estimate. 
 7.4 Final Accounting for Lease Year. 
 (a) Within ninety (90) days
after the close of each Lease Year, or as soon after such 90-day period as practicable, Landlord shall deliver to Tenant a statement of Tenant’s Operating Cost Share of the Operating Expenses for such Lease Year prepared by Landlord from

  
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Landlord’s books and records. If on the basis of such statement Tenant owes an amount that is more or less than the estimated payments for such Lease Year previously made by Tenant, Tenant
or Landlord, as the case may be, shall pay the deficiency to the other party within thirty (30) days after delivery of the statement. Failure or inability of Landlord to deliver the annual statement within such ninety (90) day period shall
not impair or constitute a waiver of Tenant’s obligation to pay Operating Expenses, or cause Landlord to incur any liability for damages. 
 (b) At any time within three (3) months after receipt of Landlord’s annual statement of Operating Expenses as contemplated in Section 7.4(a), Tenant shall be entitled, upon reasonable
written notice to Landlord and during normal business hours at Landlord’s office or such other places as Landlord shall designate, to inspect and examine those books and records of Landlord relating to the determination of Operating Expenses
for the immediately preceding Lease Year covered by such annual statement or, if Tenant so elects by written notice to Landlord, to request an independent audit of such books and records. Any such independent audit of the books and records shall be
conducted by a certified public accountant reasonably acceptable to both Landlord and Tenant or, if the parties are unable to agree, by a certified public accountant appointed by the Presiding Judge of the San Mateo County Superior Court upon the
application of either Landlord or Tenant (with notice to the other party). In either event, such certified public accountant shall be one who is not then employed in any capacity by Landlord or Tenant or by any of their respective affiliates. The
audit shall be limited to the determination of the amount of Operating Expenses for the subject Lease Year, and shall be based on generally accepted accounting principles and tax accounting principles, consistently applied. If it is determined, by
mutual agreement of Landlord and Tenant or by independent audit, that the amount of Operating Expenses billed to or paid by Tenant for the applicable Lease Year was incorrect, then the appropriate party shall pay to the other party the deficiency or
overpayment, as applicable, within thirty (30) days after the final determination of such deficiency or overpayment. All costs and expenses of the audit shall be paid by Tenant unless the audit shows that Landlord overstated Operating Expenses
for the subject Lease Year by more than five percent (5%), in which case Landlord shall promptly (and in any event not more than thirty (30) days following its receipt of Tenant’s request therefor, accompanied by invoices or other evidence
reasonably supporting the claimed costs and expenses) pay all costs and expenses of the audit. Each party agrees to maintain the confidentiality of the findings of any audit in accordance with the provisions of this Section 7.4. 

7.5 Proration. If the Rent Commencement Date falls on a day other than the first day of a Lease Year or if this Lease terminates
on a day other than the last day of a Lease Year, then the amount of Operating Expenses payable by Tenant with respect to such first or last partial Lease Year shall be prorated on the basis which the number of days during such Lease Year in which
this Lease is in effect bears to 365. The termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to Section 7.4 to be performed after such termination. 

8. UTILITIES 
 8.1 Payment. Commencing with the Rent Commencement Date (or sooner, to the extent provided in Section 2.2 above with respect to earlier payment of utilities under certain circumstances
relating to Tenant’s early access to and performance of work in the Premises prior to the Rent Commencement Date) and thereafter throughout the term of this Lease, Tenant shall pay, before delinquency, all charges for water, gas, heat, light,
electricity, power, sewer, telephone, alarm system, janitorial and other services or utilities supplied to or consumed in or with respect to the Premises (other than any separately metered costs for water, electricity or other services or utilities
furnished with respect to the Common Areas, which costs shall be paid by Landlord and shall constitute Operating Expenses under Section 7.2 hereof), including any taxes on such services and utilities. It is the intention of the parties that all
such services shall be separately metered to the Premises. In the event that any of such services supplied to the Premises are not separately metered, then the amount thereof shall be an item of Operating Expenses and shall be paid as provided in
Article 7. 
 8.2 Interruption. There shall be no abatement of rent or other charges required to be paid hereunder and
Landlord shall not be liable in damages or otherwise for interruption or failure of any service or utility furnished to or used with respect to the Premises, the Building or the Center because of accident, making of repairs, alterations or
improvements, severe weather, 

  
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difficulty or inability in obtaining services or supplies, labor difficulties or any other cause. Notwithstanding the foregoing provisions of this Section 8.2, however, in the event of any
interruption or failure of any service or utility to the Premises that (i) is caused in whole or in material part by the active negligence or willful misconduct of Landlord or its agents, employees or contractors and (ii) continues
for more than three (3) business days and (iii) materially impairs Tenant’s ability to use the Premises for the intended purpose hereunder, then following such three (3) business day period, Tenant’s obligations for
payment of rent and other charges under this Lease shall be abated in proportion to the degree of impairment of Tenant’s use of the Premises, and such abatement shall continue until Tenant’s use of the Premises is no longer materially
impaired thereby. Tenant expressly waives any benefits of any applicable existing or future law (including, but not limited to, the provisions of California Civil Code Section 1932(1)) permitting the termination of a lease due to any such
interruption or failure of any service or utility, it being the intention of the parties that their respective rights in such circumstances shall be governed solely by the provisions of this Section 8.2. 

9. ALTERATIONS; SIGNS 
  

9.1 Right to Make Alterations. Tenant shall make no alterations, additions or improvements to the Premises or the Building, other
than interior non-structural alterations in the Premises costing less than (i) Fifteen Thousand Dollars ($15,000) for any single alteration or improvement or set of related and substantially concurrent alterations or improvements, and
(ii) Thirty Thousand Dollars ($30,000) in the aggregate during any twelve (12) month period, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. All such alterations,
additions and improvements shall be completed with due diligence in a good and workmanlike manner, in compliance with space plans, working drawings and other customary plans and specifications approved in writing by Landlord (unless such approval is
not required pursuant to the terms of the first sentence of this Section) and in compliance with all applicable laws, ordinances, rules and regulations, and to the extent Landlord’s consent is not otherwise required hereunder for such
alterations, additions or improvements, Tenant shall give prompt written notice thereof to Landlord. All architects, contractors and subcontractors engaged by Tenant for work in or related to the Premises shall be subject to prior written approval
by Landlord (which approval shall not be unreasonably withheld, conditioned or delayed), and Tenant shall cause all such contractors and subcontractors to maintain public liability and property damage insurance, and other customary insurance, with
such terms and in such amounts as Landlord may reasonably require, naming as additional insureds Landlord and any of its partners, shareholders, property managers, project managers, contractors, lenders and other parties reasonably designated in
writing by Landlord from time to time for this purpose, and shall furnish Landlord with certificates of insurance or other evidence that such coverage is in effect. Notwithstanding any other provisions of this Section 9.1, under no
circumstances shall Tenant make any structural alterations or improvements, or any changes to the roof or equipment installations on the roof, or any alterations materially affecting any building systems, without Landlord’s prior written
consent (which consent shall not be unreasonably withheld, conditioned or delayed). Tenant shall provide Landlord with as-built drawings (if the nature of the work requires drawings) and with a copy of the signed building permit(s) (if the nature of
the work requires a building permit) for all alterations, additions and improvements constructed or installed by Tenant from time to time in and about the Premises. 
 9.2 Title to Alterations. All alterations, additions and improvements installed by Tenant in, on or about the Premises, the Building or the Center (including, but not limited to, lab benches, fume
hoods, clean rooms, cold rooms and other similar improvements and equipment) shall become part of the Property and shall become the property of Landlord, unless Landlord elects to require Tenant to remove the same upon the termination of this Lease;
provided, however, that the foregoing shall not apply to Tenant’s movable furniture, equipment and trade fixtures, except to the extent any such items are specifically identified in the parenthetical in the initial portion of this
sentence. Tenant shall promptly repair any damage caused by its removal of any such furniture, equipment or trade fixtures. 

(a) Notwithstanding any other provisions of this Article 9, (i) under no circumstances shall Tenant have any right to remove from
the Premises or the Building, at the expiration or termination of this Lease, any lab benches, fume hoods, clean rooms, cold rooms or other similar improvements and equipment installed in the Premises, even if such equipment and

  
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improvements were installed by Tenant; (ii) under no circumstances shall Tenant have any right to remove from the Premises, at the expiration or termination of this Lease, any alterations,
additions, improvements or equipment acquired, constructed or installed with the use, in whole or in part, of any funds from the Tenant Improvement Allowance; and (iii) if Tenant requests Landlord’s written consent to any alterations,
additions or improvements under Section 9.1 hereof and, in requesting such consent, asks that Landlord specify whether Landlord will require removal of such alterations, additions or improvements upon termination or expiration of this Lease,
then Landlord shall not be entitled to require such removal unless Landlord specified its intention to do so at the time of granting of Landlord’s Consent to the requested alterations, additions or improvements. 

(b) Notwithstanding any other provisions of this Article 9, (i) it is the intention of the parties that Landlord shall be entitled
to claim all tax attributes associated with alterations, additions, improvements and equipment constructed or installed by Tenant or Landlord with funds provided by Landlord pursuant to the Tenant Improvement Allowance; and (ii) it is the
intention of the parties that Tenant shall be entitled to claim, during the term of this Lease, all tax attributes associated with alterations, additions, improvements and equipment constructed or installed by Tenant with Tenant’s own funds
(and without any payment or reimbursement by Landlord pursuant to the Tenant Improvement Allowance), despite the fact that the items described in this clause (ii) are characterized in this Section 9.2 as becoming Landlord’s property
upon installation, in recognition of the fact that Tenant will have installed and paid for such items, will have the right of possession of such items during the term of this Lease and will have the obligation to pay (directly or indirectly)
property taxes on such items, carry insurance on such items to the extent provided in Article 12 hereof and bear the risk of loss with respect to such items to the extent provided in Article 15 hereof. If and to the extent it becomes necessary, in
implementation of the foregoing intentions, to identify (either specifically or on a percentage basis, as may be required under applicable tax laws) which alterations, additions, improvements and equipment constructed by Tenant have been funded
through the Tenant Improvement Allowance and which (if any) have been constructed or installed with Tenant’s own funds, Landlord and Tenant agree to cooperate reasonably and in good faith to make such an identification by mutual agreement.

 9.3 Tenant Trade Fixtures. Subject to Section 9.2 and to Section 9.5, Tenant may install, remove and
reinstall trade fixtures without Landlord’s prior written consent, except that installation and removal of any trade fixtures which are affixed to the Building or which affect the exterior or structural portions of the Building or the building
systems shall require Landlord’s written approval, which approval shall not be unreasonably withheld, conditioned or delayed. Subject to the provisions of Section 9.5, the foregoing shall apply to Tenant’s signs, which Tenant shall
have the right to place and remove and replace (a) only with Landlord’s prior written consent as to location, size and composition, which consent shall not be unreasonably withheld, conditioned or delayed, and (b) only in compliance
with all restrictions and requirements of applicable law and of any covenants, conditions and restrictions or other written agreements now or hereafter applicable to the Center. Tenant shall immediately repair any damage caused by installation and
removal of trade fixtures under this Section 9.3. 
 9.4 No Liens. Tenant shall at all times keep the Building and
the Center free from all liens and claims of any contractors, subcontractors, materialmen, suppliers or any other parties employed either directly or indirectly by Tenant in construction work on the Building or the Center. Tenant may contest any
claim of lien, but only if, prior to such contest, Tenant either (i) posts security in the amount of the claim, plus estimated costs and interest, or (ii) records a bond of a responsible corporate surety in such amount as may be required
to release the lien from the Building and the Center. Tenant shall indemnify, defend and hold Landlord harmless against any and all liability, loss, damage, cost and other expenses, including, without limitation, reasonable attorneys’ fees,
arising out of claims of any lien for work performed or materials or supplies furnished at the request of Tenant or persons claiming under Tenant. 
 9.5 Signs. Without limiting the generality of the provisions of Section 9.3 hereof, Tenant shall have the right to install signage substantially equivalent to that maintained by the existing
tenant of the Premises, subject to Landlord’s prior approval as to location, size, design and composition (which approval shall not be unreasonably withheld or delayed), subject to the established sign criteria for the Center and subject to all
restrictions and requirements of 

  
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applicable law and of any covenants, conditions and restrictions or other written agreements now or hereafter applicable to the Center. 

10. MAINTENANCE AND REPAIRS 
 10.1 Landlord’s Obligation for Maintenance. Landlord shall repair and maintain or cause to be repaired and maintained the Common Areas of the Center and the roof (structural portions only),
foundation, exterior walls and other structural portions of the Building. The cost of all work performed by Landlord under this Section 10.1 shall be an Operating Expense hereunder, except to the extent such work (i) is required due to the
negligence of Landlord, (ii) involves the repair or correction of a condition or defect that Landlord is required to correct pursuant to Section 5.2 hereof, (iii) is a capital expense not includible as an Operating Expense under
Section 7.2 hereof or is otherwise expressly excluded from treatment or limited in its treatment as an Operating Expense under any other applicable provision of Section 7.2 hereof, (iv) results from an event of casualty or
condemnation covered by Article 15 hereof (in which event the provisions of such Article 15 shall govern the parties’ respective rights and obligations), or (v) is required due to the negligence or willful misconduct of Tenant or its
agents, employees or invitees (in which event Tenant shall bear the full cost of such work pursuant to the indemnification provided in Section 12.6 hereof, subject to the release set forth in Section 12.4 hereof). Landlord shall also
repair and maintain or cause to be repaired and maintained the roof membrane of the Building, the actual cost of which work shall be reimbursed to Landlord by Tenant and the other tenants of the Building, on a prorata basis, promptly upon demand by
Landlord from time to time (unless all or substantially all leases within the Phase I Property require Landlord to repair the roof membranes for the respective buildings affected by such leases, in which event Landlord in its discretion may elect to
treat all such roof membrane repair costs as Operating Expenses, subject to any applicable limitations on such Operating Expense treatment under the provisions of Section 7.2 hereof, in lieu of billing such costs to the respective tenants of
the individual buildings). Tenant knowingly and voluntarily waives the right to make repairs at Landlord’s expense, or to offset the cost thereof against rent, under any law, statute, regulation or ordinance now or hereafter in effect.

 10.2 Tenant’s Obligation for Maintenance. 

(a) Good Order, Condition and Repair. Except as provided in Section 10.1 hereof, and subject to the provisions of Article 15
hereof (which shall be controlling in the event of any casualty or condemnation covered by such Article 15), Tenant at its sole cost and expense shall keep and maintain in good and sanitary order, condition and repair the Premises and every part
thereof, wherever located, including but not limited to the signs, interior, ceiling, electrical system, plumbing and sewer system, telephone and communications systems serving the Premises, the HVAC equipment and related mechanical systems
exclusively serving the Premises (for which equipment and systems Tenant shall enter into a service contract with a person or entity designated or reasonably approved by Landlord), all doors, door checks, windows, plate glass, door fronts, exposed
plumbing and sewage and other utility facilities, fixtures, lighting, wall surfaces, floor surfaces and ceiling surfaces of the Premises and all other interior repairs, foreseen and unforeseen, with respect to the Premises, as required.
Notwithstanding the foregoing provisions, in the event a complete replacement of any HVAC equipment serving the Premises is required during the term of this Lease, Landlord shall perform such replacement and shall bear the cost thereof, subject to
Landlord’s right to amortize such cost as a capital expenditure for Operating Expense purposes under the provisions of Section 7.2 hereof. 
 (b) Landlord’s Remedy. If Tenant, after notice from Landlord, fails to make or perform promptly any repairs or maintenance which are the obligation of Tenant hereunder, Landlord shall have the
right, but shall not be required, to enter the Premises and make the repairs or perform the maintenance necessary to restore the Premises to good and sanitary order, condition and repair. Immediately on demand from Landlord, the cost of such repairs
shall be due and payable by Tenant to Landlord. 
 (c) Condition upon Surrender. At the expiration or sooner termination
of this Lease, Tenant shall surrender the Premises and the improvements located therein, including any additions, alterations and improvements thereto (except for items which Tenant is permitted and elects to remove, or is required to remove,
pursuant to the provisions of this Lease), broom clean, 

  
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in good and sanitary order, condition and repair, ordinary wear and tear and casualty damage (the latter of which shall be governed by the provisions of Article 15 hereof) excepted, first,
however, removing all goods and effects of Tenant, all signage installed by Tenant and all fixtures and other items required to be removed or specified to be removed at Landlord’s election pursuant to this Lease (including, but not limited to,
any such removal required as a result of an election duly made by Landlord to require such removal as contemplated in Section 9.2), and repairing any damage caused by such removal. Tenant shall not have the right to remove fixtures or equipment
if Tenant is in default hereunder (beyond any applicable cure period) unless Landlord specifically waives this provision in writing. Tenant expressly waives any and all interest in any personal property and trade fixtures not removed from the Center
by Tenant at the expiration or termination of this Lease, agrees that any such personal property and trade fixtures may, at Landlord’s election, be deemed to have been abandoned by Tenant, and authorizes Landlord (at its election and without
prejudice to any other remedies under this Lease or under applicable law) to remove and either retain, store or dispose of such property at Tenant’s cost and expense, and Tenant waives all claims against Landlord for any damages resulting from
any such removal, storage, retention or disposal. 
 11. USE OF PROPERTY 

11.1 Permitted Use. Subject to Sections 11.3, 11.4 and 11.6 hereof, Tenant shall use the Premises solely for an office, research
and development, engineering, laboratory, storage and/or warehousing facility, including (but not limited to) administrative offices and other lawful purposes reasonably related to or incidental to such specified uses (subject in each case to
receipt of all necessary approvals from the City of South San Francisco and from all other governmental agencies having jurisdiction over the Building), and for no other purpose, unless Landlord in its sole discretion otherwise consents in writing.

 11.2 [Intentionally Omitted.] 
 11.3 No Nuisance. Tenant shall not use the Premises for or carry on or Permit within the Center or any part thereof any offensive, noisy or dangerous trade, business, manufacture, occupation, odor
or fumes, or any nuisance or anything against public policy, nor interfere with the rights or business of Landlord in the Building or the Center, nor commit or allow to be committed any waste in, on or about the Center. Tenant shall not do or permit
anything to be done in or about the Center, nor bring nor keep anything therein, which will in any way cause the Center or any portion thereof to be uninsurable with respect to the insurance required by this Lease or with respect to standard fire
and extended coverage insurance with vandalism, malicious mischief and riot endorsements. 
 11.4 Compliance with Laws.
Tenant shall not use the Premises, the Building or the Center or permit the Premises, the Building or the Center to be used in whole or in part for any purpose or use that is in violation of any applicable laws, ordinances, regulations or rules of
any governmental agency or public authority. Tenant shall keep the Premises equipped with all safety appliances required by-law, ordinance or applicable requirements of any insurance carried on the Center, or any order or regulation of any public
authority, because of Tenant’s particular use of the Premises. Tenant shall procure all licenses and permits required for Tenant’s particular use of the Premises. Tenant shall use the Premises in strict accordance with all applicable
ordinances, rules, laws and regulations and shall comply with all requirements of all governmental authorities now in force or which may hereafter be in force pertaining to the particular use of the Premises and the Center by Tenant, including,
without limitation, regulations applicable to noise, water, soil and air pollution, and making such nonstructural alterations and additions thereto as may be required from time to time by such laws, ordinances, rules, regulations and requirements of
governmental authorities or insurers of the Center (collectively, “Requirements”) because of Tenant’s construction of improvements in or other particular use of the Premises or the Center. Any structural alterations or
additions required from time to time by applicable Requirements because of Tenant’s construction of improvements in the Premises or other particular use of the Center shall, at Landlord’s election, either (i) be made by Tenant, at
Tenant’s sole cost and expense, in accordance with the procedures and standards set forth in Section 9.1 for alterations by Tenant, or (ii) be made by Landlord at Tenant’s sole cost and expense, in which event Tenant shall pay to
Landlord as additional rent, within thirty (30) days after demand by Landlord, an amount equal to all reasonable costs incurred by Landlord in connection with such alterations or additions. The judgment of any court, or the

  
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admission by Tenant in any proceeding against Tenant, that Tenant has violated any law, statute, ordinance or governmental rule, regulation or requirement shall be conclusive of such violation as
between Landlord and Tenant. 
 11.5 Liquidation Sales. Tenant shall not conduct or permit to be conducted any auction,
bankruptcy sale, liquidation sale, or going out of business sale, in, upon or about the Center, whether said auction or sale be voluntary, involuntary or pursuant to any assignment for the benefit of creditors, or pursuant to any bankruptcy or other
insolvency proceeding. 
 11.6 Environmental Matters. 

(a) For purposes of this Section, “hazardous substance” shall mean (i) the substances included within the
definitions of the term “hazardous substance” under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. §§ 9601 et seq., and the regulations promulgated thereunder, as
amended, (ii) the substances included within the definition of “hazardous substance” under the California Carpenter-Presley-Tanner Hazardous Substance Account Act, California Health & Safety Code §§ 25300 et
seq., and regulations promulgated thereunder, as amended, (iii) the substances included within the definition of “hazardous materials” under the Hazardous Materials Release Response Plans and Inventory Act, California
Heath & Safety Code §§ 25500 et seq., and regulations promulgated thereunder, as amended, (iv) the substances included within the definition of “hazardous substance” under the Underground Storage of Hazardous
Substances provisions set forth in California Health & Safety Code §§ 25280 et seq., and (v) petroleum or any fraction thereof; “hazardous waste” shall mean (i) any waste listed as or
meeting the identified characteristics of a “hazardous waste” under the Resource Conservation and Recovery Act of 1976, 42 U.S.C. §§ 6901 et seq., and regulations promulgated pursuant thereto, as amended (collectively,
“RCRA”), (ii) any waste meeting the identified characteristics of “hazardous waste,” “extremely hazardous waste” or “restricted hazardous waste” under the California Hazardous Waste Control
Law, California Health & Safety Code §§ 25100 et seq., and regulations promulgated pursuant thereto, as amended (collectively, the “CHWCL”), and/or (iii) any waste meeting the identified
characteristics of “medical waste” under California Health & Safety Code §§ 25015-25027.8, and regulations promulgated thereunder, as amended; “hazardous waste facility” shall mean a hazardous
waste facility as defined under the CHWCL; and “pollutant” shall mean all substances defined as a “pollutant,” “pollution,” “waste,” “contamination” or “hazardous substance”
under the Porter-Cologne Water Quality Control Act, California Water Code §§ 13000 et seq. 
 (b) Without
limiting the generality of the obligations set forth in Section 11.4 of this Lease: 
 (i) Tenant shall not
cause or permit any hazardous substance or hazardous waste to be brought upon, kept, stored or used in or about the Center without the prior written consent of Landlord, which consent shall not be unreasonably withheld, except that Tenant, in
connection with its permitted use of the Premises and the Center as provided in Section 11.1, may keep, store and use materials that constitute hazardous substances which are customary for such permitted use, provided such hazardous substances
are kept, stored and used in quantities which are customary for such permitted use and are kept, stored and used in full compliance with clauses (ii) and (iii) immediately below. 

(ii) Tenant shall comply with all applicable laws, rules, regulations, orders, permits, licenses and operating plans of
any governmental authority with respect to the receipt, use, handling, generation, transportation, storage, treatment and/or disposal of hazardous substances or wastes by Tenant or its agents or employees, and Tenant will provide Landlord at least
annually (or at such other times as reasonably requested by Landlord from time to time) with copies of all permits, licenses, registrations and other similar documents that authorize Tenant to conduct any such activities in connection with its
authorized use of the Premises and the Center from time to time. 
 (iii) Tenant shall not (A) operate on or
about the Center any facility required to be permitted or licensed as a hazardous waste facility or for which interim status as such is required, nor (B) store any hazardous wastes on or about the Center for

  
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ninety (90) days or more, nor (C) conduct any other activities on or about the Center that could result in the Center or any portion thereof being deemed to be a “hazardous waste
facility” (including, but not limited to, any storage or treatment of hazardous substances or hazardous wastes which could have such a result), nor (D) store any hazardous wastes on or about the Center in violation of any federal or
California laws or in violation of the terms of any federal or state licenses or permits held by Tenant. 
 (iv)
Tenant shall not install any underground storage tanks on the Property without the prior written consent of Landlord and prior approval by all applicable governmental authorities. If and to the extent that Tenant obtains all such required consents
and approvals and installs any underground storage tanks on the Property, Tenant shall comply with all applicable laws, rules, regulations, orders and permits relating to such underground storage tanks (including any installation, monitoring,
maintenance, closure and/or removal of such tanks) as such tanks are defined in California Health & Safety Code § 25281(x), including, without limitation, complying with California Health & Safety Code §§
25280-25299.7 and the regulations promulgated thereunder, as amended. Tenant shall furnish to Landlord copies of all registrations and permits issued to or held by Tenant from time to time for any and all underground storage tanks located on or
under the Center. 
 (v) If applicable, Tenant shall provide Landlord in writing the following information and/or
documentation within thirty (30) days after the Rent Commencement Date, and shall update such information at least annually, on or before each anniversary of the Rent Commencement Date, to reflect any change in or addition to the required
information and/or documentation (provided, however, that in the case of the materials described in subparagraphs (B), (C) and (D) below, Tenant shall not be required to deliver copies of such materials to Landlord but shall
maintain copies of such materials to such extent and for such periods as may be required by applicable law and shall permit Landlord or its representatives to inspect and copy such materials during normal business hours at any time and from time to
time upon reasonable notice to Tenant): 
 (A) A list of all hazardous substances, hazardous wastes and/or
pollutants that Tenant receives, uses, handles, generates, transports, stores, treats or disposes of from time to time in connection with its operations in the Center. 

(B) All hazardous waste manifests, if any, that Tenant is required to complete from time to time under California
Health & Safety Code § 25160, any regulations promulgated thereunder, any similar successor provisions and/or any amendments to any of the foregoing, in connection with its operations in the Center. 

(C) Any Hazardous Materials Management Plan required from time to time with respect to Tenant’s operations in the
Center, pursuant to California Health & Safety Code §§ 25500 et seq., any regulations promulgated thereunder, any similar successor provisions and/or any amendments to any of the foregoing. 

(D) Any Air Toxics Emissions Inventory Plan required from time to time with respect to Tenant’s operations in the
Center, pursuant to California Health & Safety Code §§ 44340 et seq., any regulations promulgated thereunder, any similar successor provisions and/or any amendments to any of the foregoing. 

(E) Any biennial Hazardous Waste Generator reports or notifications furnished by Tenant to the California Department of
Toxic Substances Control or other applicable governmental authorities from time to time pursuant to California Code of Regulations Title 22, § 66262.41, any similar successor provisions and/or any amendments to any of the foregoing, in
connection with Tenant’s operations in the Center. 
 (F) Any Hazardous Waste Generator Reports regarding
source reductions, as required from time to time pursuant to California Health & Safety 

  
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Code §§ 25244.20 et seq., any regulations promulgated thereunder, any similar successor provisions and/or any amendments to any of the foregoing, in connection with Tenant’s
operations in the Center. 
 (G) Any Hazardous Waste Generator Reports or notifications not otherwise described
in the preceding subparagraphs and required from time to time pursuant to California Health & Safety Code § 25153.6, California Code of Regulations Title 22, Division 4.5, Chapter 12, §§66262.10 et seq.
(“Standards Applicable to Generators of Hazardous Waste”), any other regulations promulgated thereunder, any similar successor provisions and/or any amendments to any of the foregoing, in connection with Tenant’s operations in the
Center. 
 (H) All industrial wastewater discharge permits issued to or held by Tenant from time to time in
connection with its operations in the Center, and all air quality management district permits issued to or held by Tenant from time to time in connection with its operations in the Center. 

(I) Copies of any other lists or inventories of hazardous substances, hazardous wastes and/or pollutants on or about the
Center that Tenant is otherwise required to prepare and file from time to time with any governmental or regulatory authority. 
 (vi) Tenant shall secure Landlord’s prior written approval for any proposed receipt, storage, possession, use, transfer or disposal of “radioactive materials” or “radiation,” as
such materials are defined in Title 26, California Code of Regulations § 17-30100, and/or any other materials possessing the characteristics of the materials so defined, which approval Landlord may withhold in its sole and absolute
discretion; provided, that such approval shall not be required for any radioactive materials (x) for which Tenant has secured prior written approval of the California Department of Health Services (or other governmental authority then
having primary regulatory jurisdiction over such matters) and delivered to Landlord a copy of such approval, or (y) which Tenant is authorized to use pursuant to the terms of any other radioactive materials license issued by the State of
California. Tenant, in connection with any such authorized receipt, storage, possession, use, transfer or disposal of radioactive materials or radiation, shall: 
 (A) Comply with all federal, state and local laws, rules, regulations, orders, licenses and permits issued to or applicable to Tenant with respect to its operations in the Center; 

(B) Maintain, to such extent and for such periods as may be required by applicable law, and permit Landlord and its
representatives to inspect during normal business hours at any time and from time to time upon reasonable notice to Tenant, a list of all radioactive materials or radiation received, stored, possessed, used, transferred or disposed of by Tenant or
in connection with Tenant’s operations in the Center from time to time, to the extent not already disclosed through delivery of a copy of a California Department of Health Services approval (or approval by any other governmental authority then
having primary regulatory jurisdiction over such matters) with respect thereto as contemplated above; and 
 (C)
Maintain, to such extent and for such periods as may be required by applicable law, and permit Landlord or its representatives to inspect during normal business hours at any time and from time to time upon reasonable notice to Tenant, all licenses,
registration materials, inspection reports, governmental orders and permits in connection with the receipt, storage, possession, use, transfer or disposal of radioactive materials or radiation by Tenant or in connection with Tenant’s operations
in the Center from time to time. 
 (vii) Tenant shall comply with any and all applicable laws, rules,
regulations and orders of any governmental authority with respect to the release into the environment of any hazardous wastes, hazardous substances, pollutants, radiation or 

  
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radioactive materials by Tenant or its agents or employees. Tenant shall give Landlord immediate verbal notice of any unauthorized release of any such hazardous wastes, hazardous substances,
pollutants, radiation or radioactive materials into the environment; shall follow such verbal notice with written notice to Landlord of such release within twenty-four (24) hours of the time at which Tenant became aware of such release; and
shall provide Landlord with a copy of any written report or disclosure filed by Tenant with any governmental authority with respect to such release, substantially concurrently with Tenant’s filing of such written report or disclosure with the
applicable governmental authority. 
 (viii) Tenant shall indemnify, defend and hold Landlord harmless from and
against any and all claims, losses (including, but not limited to, loss of rental income), damages, liabilities, costs, legal fees and expenses of any sort arising out of or relating to (A) any failure by Tenant to comply with any provisions of
this Section 11.6(b), or (B) any receipt, use, handling, generation, transportation, storage, treatment, release and/or disposal of any hazardous substance, hazardous waste, pollutant, radioactive material or radiation on or about the
Center as a proximate result of Tenant’s use of the Center or as a result of any intentional or negligent acts or omissions of Tenant or of any agent, employee or invitee of Tenant. 

(ix) Tenant shall cooperate with Landlord in furnishing Landlord with complete information regarding Tenant’s
receipt, handling, use, storage, transportation, generation, treatment and/or disposal of any hazardous substances, hazardous wastes, pollutants, radiation or radioactive materials in or about the Center. Upon request, but subject to Tenant’s
reasonable operating and security procedures, Tenant shall grant Landlord reasonable access at reasonable times to the Premises to inspect Tenant’s receipt, handling, use, storage, transportation, generation, treatment and/or disposal of
hazardous substances, hazardous wastes, pollutants, radiation and radioactive materials, without being deemed guilty of any disturbance of Tenant’s use or possession and without being liable to Tenant in any manner, except that nothing in the
preceding provision shall be construed to release or exculpate Landlord for any damage to property or injury to or death of persons occurring in the course of Landlord’s exercise of such inspection rights as a result of the negligence of or
willful misconduct or omission by Landlord or its agents or employees. 
 (x) Notwithstanding Landlord’s
rights of inspection and review under this Section 11.6(b), Landlord shall have no obligation or duty to so inspect or review, and no third party shall be entitled to rely on Landlord to conduct any sort of inspection or review by reason of the
provisions of this Section 11.6(b). 
 (xi) If Tenant or its employees, agents, contractors, vendors,
customers or guests receive, handle, use, store, transport, generate, treat and/or dispose of any hazardous substances or wastes or radiation or radioactive materials on or about the Center at any time during the term of this Lease, then within
thirty (30) days after the termination or expiration of this Lease, Tenant at its sole cost and expense shall obtain and deliver to Landlord an environmental study, performed by an expert reasonably satisfactory to Landlord, evaluating the
presence or absence of hazardous substances, hazardous wastes, pollutants, radiation and radioactive materials on and about the Premises and those other portions the Center (if any) affected by Tenant’s operations in the Center and attributable
or potentially attributable to such operations. Such study shall be based on a reasonable and prudent level of tests and investigations of the Center (if appropriate), which tests shall be conducted no earlier than the date of termination or
expiration of this Lease. Liability for any remedial actions required or recommended on the basis of such study shall be allocated in accordance with Sections 11.4, 11.6, 12.6 and other applicable provisions of this Lease. Notwithstanding the
foregoing, the parties acknowledge that nothing in this Section 11.6(b) is intended to impose on Tenant any responsibility or liability for any hazardous substances, hazardous wastes, pollutants, radiation or radioactive materials present on
the Center as of the Lease Commencement Date (other than as a result of any intentional or negligent acts or omissions of Tenant or of any agent, employee or invitee of Tenant), but also acknowledge that nothing in the preceding portion of this
sentence is intended to release or exculpate Tenant from 

  
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responsibility or liability for any exacerbation of any such pre-existing conditions as a result of any breach of Tenant’s obligations under this Section 11.6 or any breach by Tenant or
its employees, agents or contractors of the provisions of the declarations, covenants and restrictions identified in Section 17.4 hereof. 
 (c) Landlord shall indemnify, defend and hold Tenant harmless from and against any and all claims, losses, damages, liabilities, costs, legal fees and expenses of any sort arising out of or relating to
(i) the presence on the Center of any hazardous substances, hazardous wastes, pollutants, radiation or radioactive materials present on the Center as of the Lease Commencement Date (other than as a result of any intentional or negligent acts or
omissions of Tenant or of any agent, employee or invitee of Tenant), and/or (ii) any unauthorized release into the environment (including, but not limited to, the Center) of any hazardous substances, hazardous wastes, pollutants, radiation or
radioactive materials to the extent such release results from the negligence of or willful misconduct or omission by Landlord or its agents or employees. 
 (d) The provisions of this Section 11.6 shall survive the termination of this Lease. 
 12. INSURANCE AND INDEMNITY 
 12.1 Insurance. 

(a) Tenant shall procure and maintain in full force and effect at all times during the term of this Lease, from and after the Early Access
Date, at Tenant’s cost and expense, commercial general liability insurance to protect against liability to the public, or to any invitee of Tenant or Landlord, arising out of or related to the use of or resulting from any accident occurring in,
upon or about the Premises, with limits of liability of not less than (i) Three Million Dollars ($3,000,000.00) per occurrence for bodily injury, personal injury and death, and Five Hundred Thousand Dollars ($500,000.00) per occurrence for
property damage, or (ii) a combined single limit of liability of not less than Five Million Dollars ($5,000,000.00) per occurrence for bodily injury (including personal injury and death) and property damage. Such insurance shall name Landlord,
its general partners, its property manager and any lender holding a deed of trust on the Center from time to time (as designated in writing by Landlord to Tenant from time to time) as additional insureds thereunder. The amount of such insurance
shall not be construed to limit any liability or obligation of Tenant under this Lease. Tenant shall also procure and maintain in full force and effect at all times during the term of this Lease, at Tenant’s cost and expense, products/completed
operations coverage on terms and in amounts (A) customary in Tenant’s industry for companies engaged in the marketing of products on a scale comparable to that in which Tenant is engaged from time to time and (B) mutually satisfactory
to Landlord and Tenant in their respective reasonable discretion. 
 (b) Landlord shall procure and maintain in full force and
effect at all times during the term of this Lease, at Landlord’s cost and expense (but reimbursable as an Operating Expense under Section 7.2 hereof), commercial general liability insurance to protect against liability arising out of or
related to the use of or resulting from any accident occurring in, upon or about the Center, with a combined single limit of liability of not less than Five Million Dollars ($5,000,000.00) per occurrence for bodily injury (including personal injury
and death) and property damage. 
 (c) Landlord shall procure and maintain in full force and effect at all times during the term
of this Lease, at. Landlord’s cost and expense (but reimbursable as an Operating Expense under Section 7.2 hereof), policies of property insurance providing protection against “all risk of direct physical loss” (as defined by and
detailed in the Insurance Service Office’s Commercial Property Program “Cause of Loss—Special Form [CP 1030]” or its equivalent) for the shell of the Building and for the improvements in the Common Areas of the Center, on a full
replacement cost basis (with no co-insurance or, if coverage without co-insurance is not reasonably available, then on an “agreed amount” basis or with a commercially reasonable margin clause). Such insurance may include earthquake and/or
environmental coverage, as part of the same policy or as a separate policy or policies, to the extent Landlord in its sole discretion elects to carry such coverage, and shall have such commercially reasonable deductibles and other terms as Landlord
in its discretion determines to be appropriate. Landlord shall have no 

  
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obligation to carry property damage insurance for any alterations, additions or improvements installed by Tenant in the Building or on or about the Center. 

(d) Landlord shall procure and maintain in full force and effect at all times during the term of this Lease, at Tenant’s cost and
expense (chargeable, in Landlord’s discretion, either as an Operating Expense allocable 100% to Tenant, or as a direct pass-through to Tenant payable within thirty (30) days of Tenant’s receipt of Landlord’s invoice therefor),
policies of property insurance providing protection against “all risk of direct physical loss” (as defined by and detailed in the Insurance Service Office’s Commercial Property Program “Cause of Loss—Special Form
[CP1030]” or its equivalent) for the fixtures, equipment and tenant improvements existing in the Premises on the Early Access Date (but excluding Tenant’s Property as defined in paragraph (e) below, which it shall be Tenant’s
responsibility to insure pursuant to such paragraph (e) below), on a full replacement cost basis (with no co-insurance or, if coverage without co-insurance is not reasonably available, then on an “agreed amount” basis or with a
commercially reasonable margin clause). Such insurance may have such commercially reasonable deductibles and other terms as Landlord in its reasonable discretion determines to be appropriate. The coverage required to be maintained under this
paragraph (d) may, in Landlord’s discretion, be added to or combined with Landlord’s master policy carried under paragraph (c) above. Tenant shall cooperate with Landlord in the preparation of a mutually approved initial list or
schedule of such existing fixtures, equipment and tenant improvements, for purposes of identifying the items Landlord is responsible for insuring under this paragraph (d), and Tenant shall thereafter provide to Landlord from time to time, upon
request by Landlord annually or at other reasonable intervals, an updated version of such list or schedule (the intended purpose of such updating being to reflect any modification or removal of any such items that would have the effect of
eliminating them from the scope of Landlord’s insurance obligation under this paragraph (d)). Landlord, in its discretion, may elect from time to time to obtain appraisals of any or all alterations, additions, fixtures, equipment and
improvements which Landlord is required to insure hereunder. 
 (e) Tenant shall procure and maintain in full force and effect
at all times during the term of this Lease, from and after the Early Access Date, at Tenant’s cost and expense, policies of property insurance providing protection against “all risk of direct physical loss” (as defined by and detailed
in the Insurance Service Office’s Commercial Property Program “Cause of Loss-Special Form [CP1030]” or its equivalent) for Tenant’s movable personal property, office furniture, movable equipment and trade fixtures, for all tenant
improvements constructed by Tenant pursuant to Article 5 above, and for all other alterations, additions and improvements placed or installed by Tenant from time to time in or about the Premises (collectively, “Tenant’s
Property,” which term is not intended to imply any conclusion regarding ultimate ownership of alterations, additions and improvements that are otherwise covered by Article 9 above, but is used solely as a defined term for purposes of
the specific contexts in which it is used as such in this Lease), on a full replacement cost basis (with no co-insurance or, if coverage without co-insurance is not reasonably available, then on an “agreed amount” basis or with a
commercially reasonable margin clause). Such insurance may have such commercially reasonable deductibles and other terms as Tenant in its discretion determines to be appropriate, and shall name both Tenant and Landlord as insureds as their interests
may appear. Without limiting the generality of the foregoing provisions, Tenant’s property insurance on Tenant’s Property shall in all events include earthquake insurance in an amount at least equal to the amount of the Tenant Improvement
Allowance paid by Landlord pursuant to this Lease in connection with the construction of tenant improvements in the Premises by Tenant; provided, however, that if Tenant is not otherwise carrying earthquake insurance as part of its property
insurance and requests in writing that Landlord include the earthquake insurance required under this sentence as part of Landlord’s earthquake insurance coverage, Landlord will cooperate reasonably and in good faith with Tenant to endeavor to
arrange to include such coverage on Tenant’s Property under Landlord’s earthquake insurance, at Tenant’s expense. During the construction of such tenant improvements, Tenant shall also procure and maintain in full force and effect, at
its sole cost and expense, a policy of builder’s risk insurance on the tenant improvements constructed by Tenant, in such amounts and with such commercially reasonable deductibles as Landlord and Tenant may mutually and reasonably determine to
be appropriate with respect to such insurance. Without limiting the generality of the foregoing provisions, Tenant’s builder’s risk insurance with respect to the tenant improvements constructed with the use of funds from the Tenant
Improvement Allowance shall 

  
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in all events include earthquake insurance in an amount at least equal to the cumulative amount of the Tenant Improvement Allowance paid by Landlord from time to time in connection with the
construction of such tenant improvements. 
 12.2 Quality of Policies and Certificates. All policies of insurance
required hereunder shall be issued by responsible insurers and, in the case of policies carried or required to be carried by Tenant, shall be written as primary policies not contributing with and not in excess of any coverage that Landlord may
carry. Tenant shall deliver to Landlord copies of policies or certificates of insurance showing that said policies are in effect. The coverage provided by such policies shall include the clause or endorsement referred to in Section 12.4. If
Tenant fails to acquire, maintain or renew any insurance required to be maintained by it under this Article 12 or to pay the premium therefor, then Landlord, at its option and in addition to its other remedies, but without obligation so to do, may
procure such insurance, and any sums expended by it to procure any such insurance on behalf of or in place of Tenant shall be repaid upon demand, with interest as provided in Section 3.2 hereof. Tenant shall give Landlord at least thirty
(30) days prior written notice of any cancellation or nonrenewal of insurance required to be maintained under this Article 12, and shall obtain written undertakings from each insurer under policies required to be maintained by it to endeavor to
notify all insureds thereunder at least thirty (30) days prior to cancellation of coverage. 
 12.3 Workers’
Compensation; Employees. Tenant shall maintain in full force and effect during the term of this Lease workers’ compensation insurance in at least the minimum amounts required by law, covering all of Tenant’s employees working at or
about the Premises. In addition, Tenant shall maintain in full force and effect during the term of this Lease employer’s liability coverage with limits of liability of not less than One Hundred Thousand Dollars ($100,000) per accident, One
Hundred Thousand Dollars ($100,000) per employee for disease, and Five Hundred Thousand Dollars ($500,000) policy limit for disease. 
 12.4 Waiver of Subrogation. To the extent permitted by law and without affecting the coverage provided by insurance required to be maintained hereunder, Landlord and Tenant each waive any right to
recover against the other with respect to (i) damage to property, (ii) damage to the Center or any part thereof, or (iii) claims arising by reason of any of the foregoing, but only to the extent that any of the foregoing damages and
claims under clauses (i)-(iii) hereof are covered or would have been covered, and only to the extent of such actual or deemed coverage, by property insurance actually carried or required to be carried hereunder by either Landlord or Tenant,
regardless of any negligence of the party receiving the benefit of such waiver. This provision is intended to waive fully, and for the benefit of each party, any rights and claims which might give rise to a right of subrogation in any insurance
carrier. Each party shall procure a clause or endorsement on any property insurance policy denying to the insurer rights of subrogation against the other party to the extent rights have been waived by the insured prior to the occurrence of injury or
loss. Coverage provided by insurance maintained by Landlord or Tenant shall not be limited, reduced or diminished by virtue of the subrogation waiver herein contained. 
 12.5 Increase in Premiums. Tenant shall do all acts and pay all expenses necessary to ensure that the Premises are not used for purposes prohibited by any applicable fire insurance, and that
Tenant’s use of the Premises, Building and Center complies with all requirements necessary to obtain any such insurance. If Tenant uses or permits the Premises, Building or Center to be used in a manner which increases the existing rate of any
insurance carried by Landlord on the Center and such use continues for longer than a reasonable period specified in any written notice from Landlord to Tenant identifying the rate increase and the factors causing the same, then Tenant shall pay the
amount of the increase in premium caused thereby, and Landlord’s costs of obtaining other replacement insurance policies, including any increase in premium, within thirty (30) days after demand therefor by Landlord. 

12.6 Indemnification. 
 (a) Except as otherwise expressly provided for in this Lease, Tenant shall indemnify, defend and hold Landlord and its members, partners, shareholders, officers, directors, agents, employees and
contractors harmless from any and all liability for injury to or death of any person, or loss of or damage to the property of any person, and all actions, claims, demands, costs (including, without limitation, reasonable attorneys’ fees),
damages or expenses of any 

  
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kind arising therefrom which may be brought or made against Landlord or which Landlord may pay or incur by reason of the use, occupancy and enjoyment of the Center by Tenant or any invitees,
sublessees, licensees, assignees, employees, agents or contractors of Tenant or holding under Tenant (including, but not limited to, any such matters arising out of or in connection with any early entry upon the Center by Tenant pursuant to
Section 2.2 hereof) from any cause whatsoever other than negligence or willful misconduct or omission by Landlord or its agents, employees or contractors. Landlord and its members, partners, shareholders, officers, directors, agents, employees
and contractors shall not be liable for, and Tenant hereby waives all claims against such persons for, damages to goods, wares and merchandise in or upon the Center, or for injuries to Tenant, its agents or third persons in or upon the Center, from
any cause whatsoever other than negligence or willful misconduct or omission by Landlord or its agents, employees or contractors. Tenant shall give prompt notice to Landlord of any casualty or accident in, on or about the Center. 

(b) Except as otherwise expressly provided for in this Lease, Landlord shall indemnify, defend and hold Tenant and its partners,
shareholders, officers, directors, agents, employees and contractors harmless from any and all liability for injury to or death of any person, or loss of or damage to the property of any person, and all actions, claims, demands, costs (including,
without limitation, reasonable attorneys’ fees), damages or expenses of any kind arising therefrom which may be brought or made against Tenant or which Tenant may pay or incur, to the extent such liabilities or other matters arise in, on or
about the Center by reason of any negligence or willful misconduct or omission by Landlord or its agents, employees or contractors. 
 12.7 Blanket Policy. Any policy required to be maintained hereunder may be maintained under a so-called “blanket policy” insuring other parties and other locations so long as the amount
of insurance required to be provided hereunder is not thereby diminished. Without limiting the generality of the requirement set forth at the end of the preceding sentence, property insurance provided under a blanket policy shall provide full
replacement cost coverage and liability insurance provided under a blanket policy shall include per location aggregate limits meeting or exceeding the limits required under this Article 12. 

13. SUBLEASE AND ASSIGNMENT 
 13.1 Assignment and Sublease of Building. Except in the case of a Permitted Transfer, Tenant shall not have the right or power to assign its interest in this Lease, or make any sublease of the
Premises or any portion thereof, nor shall any interest of Tenant under this Lease be assignable involuntarily or by operation of law, without on each occasion obtaining the prior written consent of Landlord, which consent shall not be unreasonably
withheld, conditioned or delayed. Any purported sublease or assignment of Tenant’s interest in this Lease requiring but not having received Landlord’s consent thereto (to the extent such consent is required hereunder) shall be void. Except
in the case of a Permitted Transfer, any dissolution, consolidation, merger or other reorganization of Tenant, or any sale or transfer of substantially all of the stock or assets of Tenant in a single transaction or series of related transactions,
shall be deemed to be an assignment hereunder and shall be void without the prior written consent of Landlord as required above. Notwithstanding the foregoing, (i) neither an initial public offering of the common stock of Tenant nor any other
sale of Tenant’s capital stock through any public securities exchange nor any other issuance of Tenant’s capital stock for bona fide financing purposes shall be deemed to be an assignment, subletting or transfer hereunder; and
(ii) Tenant shall have the right to assign this Lease or sublet the Premises, or any portion thereof, without Landlord’s consent (but with written notice by Tenant to Landlord concurrently with such assignment or subletting or in all
events no later than ten (10) days thereafter), to any Affiliate of Tenant, or to any entity which results from a merger or consolidation involving Tenant, or to any entity which acquires substantially all of the stock or assets of Tenant as a
going concern (hereinafter each a “Permitted Transfer”). For purposes of the preceding sentence, an “Affiliate” of Tenant shall mean any entity in which Tenant owns at least a fifty percent
(50%) equity interest, any entity which owns at least a fifty percent (50%) equity interest in Tenant, and/or any entity which is related to Tenant by a chain of ownership interests involving at least a fifty percent (50%) equity
interest at each level in the chain. Landlord shall have no right to terminate this Lease in connection with, and shall have no right to any sums or other economic consideration resulting from, any Permitted Transfer. Except as expressly set forth
in this Section 13.1, however, the 

  
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provisions of Section 13.2 shall remain applicable to any Permitted Transfer and the transferee under such Permitted Transfer shall be and remain subject to all of the terms and provisions
of this Lease. 
 13.2 Rights of Landlord. 
 (a) Consent by Landlord to one or more assignments of this Lease, or to one or more sublettings of the Premises or any portion thereof, or collection of rent by Landlord from any assignee or sublessee,
shall not operate to exhaust Landlord’s rights under this Article 13, nor constitute consent to any subsequent assignment or subletting. No assignment of Tenant’s interest in this Lease and no sublease shall relieve Tenant of its
obligations hereunder, notwithstanding any waiver or extension of time granted by Landlord to any assignee or sublessee, or the failure of Landlord to assert its rights against any assignee or sublessee, and regardless of whether Landlord’s
consent thereto is given or required to be given hereunder. In the event of a default by any assignee, sublessee or other successor of Tenant in the performance of any of the terms or obligations of Tenant under this Lease, Landlord may proceed
directly against Tenant without the necessity of exhausting remedies against any such assignee, sublessee or other successor. In addition, Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this
Lease, all rent from any subletting of all or a part of the Premises as permitted under this Lease, and Landlord, as Tenant’s assignee and as attorney-in-fact for Tenant, or any receiver for Tenant appointed on Landlord’s application, may
collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence and during the continuance of an event of default by Tenant beyond any applicable cure period, Tenant shall have the right to collect
such rent and to retain all sublease profits (subject to the provisions of Section 13.2(c), below). 
 (b) Upon any
assignment of Tenant’s interest in this Lease for which Landlord’s consent is required under Section 13.1 hereof, Tenant shall pay to Landlord, within ten (10) days after receipt thereof by Tenant from time to time, twenty-five
percent (25%) of all cash sums and other economic considerations received by Tenant in connection with or as a result of such assignment, after first deducting therefrom (i) any costs incurred by Tenant for leasehold improvements
(including, but not limited to, third-party architectural and space planning costs) in the Premises in connection with such assignment, amortized over the remaining term of this Lease, and (ii) any reasonable real estate commissions and/or
reasonable attorneys’ fees actually incurred by Tenant in connection with such assignment. 
 (c) Upon any sublease of all
or any portion of the Premises for which Landlord’s consent is required under Section 13.1 hereof, Tenant shall pay to Landlord, within ten (10) days after receipt thereof by Tenant from time to time, twenty-five percent (25%) of
all cash sums and other economic considerations received by Tenant in connection with or as a result of such sublease, after first deducting therefrom (i) the minimum rental due hereunder for the corresponding period, prorated (on the basis of
the average per-square-foot cost paid by Tenant for the entire Premises for the applicable period under this Lease) to reflect the size of the subleased portion of the Premises, (ii) any costs incurred by Tenant for leasehold improvements in
the subleased portion of the Premises (including, but not limited to, third-party architectural and space planning costs) for the specific benefit of the sublessee in connection with such sublease, amortized over the remaining term of this Lease,
and (iii) any reasonable real estate commissions and/or reasonable attorneys’ fees actually incurred by Tenant in connection with such sublease, amortized over the term of such sublease. 

14. RIGHT OF ENTRY AND QUIET ENJOYMENT 
 14.1 Right of Entry. Landlord and its authorized representatives shall have the right, subject to Tenant’s reasonable operating and security procedures, to enter the Premises at any time
during the term of this Lease during normal business hours and upon not less than twenty-four (24) hours prior notice, except in the case of emergency (in which event no notice shall be required and entry may be made at any time), for the
purpose of inspecting and determining the condition of the Premises and Building or for any other proper purpose including, without limitation, to make repairs, replacements or improvements which Landlord may deem necessary, to show the Premises and
Building to prospective purchasers, to show the Premises and Building to prospective tenants (but only during the final year of the term of this Lease), and to post notices of nonresponsibility. Landlord shall not be liable for inconvenience,

  
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annoyance, disturbance, loss of business, quiet enjoyment or other damage or loss to Tenant by reason of making any repairs or performing any work upon the Building or the Center or by reason of
erecting or maintaining any protective barricades in connection with any such work, and the obligations of Tenant under this Lease shall not thereby be affected in any manner whatsoever, provided, however, Landlord shall use reasonable
efforts to minimize the inconvenience to Tenant’s normal business operations caused thereby, and nothing in this sentence shall be construed to release or exculpate Landlord for any damage to property or injury to or death of persons occurring
in the course of Landlord’s exercise of its rights under this Section 14.1 as a result of the negligence of or willful misconduct or omission by Landlord or its agents or employees. 

14.2 Quiet Enjoyment. Landlord covenants that Tenant, upon paying the rent and performing its obligations hereunder and subject to
all the terms and conditions of this Lease, shall peacefully and quietly have, hold and enjoy the Premises and the Center throughout the term of this Lease, or until this Lease is terminated as provided by this Lease. 

15. CASUALTY AND TAKING 
 15.1 Damage or Destruction. 
 (a) If the Premises or any portion of the
Building or Common Areas of the Center necessary for Tenant’s use and occupancy of the Premises is damaged or destroyed in whole or in any substantial part during the term of this Lease, Landlord shall obtain from Landlord’s architect, as
soon as practicable (and in all events within forty-five (45) days) following the damage or destruction, (i) the architect’s reasonable, good faith estimate of the time within which repair and restoration of the Premises, Building and
Common Areas (if applicable) can reasonably be expected to be completed to the extent necessary to enable Tenant to resume its full business operations in the Premises without material impairment and (ii) the architect’s reasonable, good
faith opinion as to whether repair and restoration to that extent will be permitted under applicable governmental laws, regulations and building codes then in effect (collectively, the “Architect’s Estimate”). If the
damage or destruction materially impairs Tenant’s ability to conduct its business operations in the Premises, and if either (A) the estimated repair time specified in the Architect’s Estimate exceeds six (6) months (or, in the
case of an occurrence during the final year of the term of this Lease, sixty (60) days) or (B) the Architect’s Estimate states that repair and restoration of the affected areas to the extent necessary to enable Tenant to resume its
full business operations in the Premises without material impairment will not be permitted under applicable governmental laws, regulations and building codes then in effect, then in either such event either Landlord or Tenant may terminate this
Lease as of the date of the occurrence by giving written notice to the other party within thirty (30) days after the date of the occurrence or fifteen (15) days after delivery of the Architect’s Estimate, whichever is later. In
addition, Landlord shall have a similar termination right if the damage or destruction arises from a risk that is not required to be insured against (and is not actually insured against) by Landlord under this Lease and if Landlord’s architect
reasonably estimates that the uninsured cost to restore the portions of-the Premises and Building for which Landlord is responsible to the condition required above would exceed five percent (5%) of the then applicable replacement cost of the
entire Building. If the circumstances creating a termination right under the preceding two sentences do not exist, or if such circumstances exist but neither party timely exercises any applicable termination right, then this Lease shall remain in
full force and effect and (x) Landlord, as to the Common Areas of the Center and as to the shell of the Building and the alterations, additions and improvements that Landlord is required to insure under Section 12.1(d) above, and
(y) Tenant, as to the alterations, additions and improvements that Tenant is required to insure under Section 12.1(e) above, shall respectively commence and complete, with all due diligence and as promptly as is reasonably practicable
under the conditions then existing, the repair and restoration of such respective portions of the Property and Premises to a condition substantially comparable to that which existed immediately prior to the damage or destruction; provided,
however, that Tenant in its discretion may elect not to repair, rebuild or replace any or all of the items which would otherwise be Tenant’s responsibility under clause (y) of this sentence to the extent such items were constructed or
installed at Tenant’s sole expense and without any use of funds from the Tenant Improvement Allowance. 
 (b) If this Lease
is terminated pursuant to the foregoing provisions of this Section 15.1 following an occurrence which is a peril actually insured or required to be insured 

  
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against pursuant to Section 12.1(c), (d) and/or (e), Landlord and Tenant agree (and any Lender shall be asked to agree) that such insurance proceeds shall be allocated between Landlord
and Tenant in a manner which fairly and reasonably reflects their respective ownership rights under this Lease, as of the termination or expiration of the term of this Lease, with respect to the improvements, fixtures, equipment and other items to
which such insurance proceeds are attributable. 
 (c) From and after the date of an occurrence resulting in damage to or
destruction of the Premises or of Common Areas necessary for Tenant’s use and occupancy of the Premises, and continuing until repair and restoration thereof are completed to the extent necessary to enable Tenant to resume operation of its
business in the Premises without material impairment, there shall be an equitable abatement of minimum rental and of Tenant’s Operating Cost Share of Operating Expenses based upon the degree to which Tenant’s ability to conduct its
business in the Premises is impaired. 
 (d) Each party expressly waives the provisions of California Civil Code Sections
1932(2), 1933(4) and any other applicable existing or future law permitting the termination of a lease agreement in the event of damage to or destruction of the leased property, it being the intention of the parties that their respective rights in
such circumstances shall be governed solely by the provisions of this Article 15. 
 15.2 Condemnation. 

(a) If during the term of this Lease the Premises or any portion of the Building or Common Areas of the Center that is necessary for
Tenant’s use and occupancy of the Premises, or any substantial part of any of them, is taken by eminent domain or by reason of any public improvement or condemnation proceeding, or in any manner by exercise of the right of eminent domain
(including any transfer in lieu of or in avoidance of an exercise of the power of eminent domain), or receives irreparable damage by reason of anything lawfully done by or under color of any public authority, then (i) this Lease shall terminate
as to the entire Premises at Landlord’s election by written notice given to Tenant within thirty (30) days after the taking has occurred, and (ii) this Lease shall terminate as to the entire Premises at Tenant’s election, by
written notice given to Landlord within thirty (30) days after the nature and extent of the taking have been finally determined, if the portion of the Premises, Building or Center taken is of such extent and nature as substantially to handicap,
impede or permanently impair Tenant’s use of the Premises. If Tenant elects to terminate this Lease, Tenant shall also notify Landlord of the date of termination, which date shall not be earlier than thirty (30) days nor later than ninety
(90) days after Tenant has notified Landlord of Tenant’s election to terminate, except that this Lease shall terminate on the date of taking if such date falls on any date before the date of termination designated by Tenant. If neither
party elects to terminate this Lease as hereinabove provided, this Lease shall continue in full force and effect (except that there shall be an equitable abatement of minimum rental and of Tenant’s Operating Cost Share of Operating Expenses
based upon the degree to which Tenant’s ability to conduct its business in the Premises is impaired), Landlord shall restore the improvements for which Landlord is responsible (as provided in Section 15.1 above) to a complete architectural
whole and a functional condition and as nearly as reasonably possible to the condition existing before the taking, and Tenant shall restore the improvements for which Tenant is responsible (as provided in Section 15.1 above) to a complete
architectural whole and a functional condition and as nearly as reasonably possible to the condition existing before the taking; provided, however, that Tenant in its discretion may elect not to repair, restore or replace any or all of the
items which would otherwise be Tenant’s responsibility to the extent such items were constructed or installed at Tenant’s sole expense and without any use of funds from the Tenant Improvement Allowance. In connection with any such
restoration, each party shall use reasonable efforts (including, without limitation, any necessary negotiation or intercession with its respective lender, if any) to ensure that any severance damages or other condemnation awards intended to provide
compensation for rebuilding or restoration costs are promptly collected and made available to Landlord and Tenant in portions reasonably corresponding to the cost and scope of their respective restoration obligations, subject only to such payment
controls as either party or its lender may reasonably require in order to ensure the proper application of such proceeds toward the restoration of the Premises, Building and Center. Each party expressly waives the provisions of California Code of
Civil Procedure Section 1265.130 and of any other existing or future law allowing either party to terminate (or to 

  
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petition the Superior Court to terminate) a lease in the event of a partial condemnation or taking of the leased property, it being the intention of the parties that their respective rights in
such circumstances shall be governed solely by the provisions of this Article 13. 
 (b) If this Lease is terminated pursuant to
the foregoing provisions of this Section 15.2, or if this Lease remains in effect but any condemnation awards or other proceeds become available as compensation for the loss or destruction of the Building and/or the Center, then Landlord and
Tenant agree (and any Lender shall be asked to agree) that such proceeds shall be allocated between Landlord and Tenant, respectively, in the respective proportions in which Landlord and Tenant would have shared, under Section 15.1(c), the
proceeds of any insurance proceeds following damage to or destruction of the applicable improvements due to an insured casualty. 
 15.3 Reservation of Compensation. Landlord reserves, and Tenant waives and assigns to Landlord, all rights to any award or compensation for damage to the Center, the improvements located therein
and the leasehold estate created hereby, accruing by reason of any taking in any public improvement, condemnation or eminent domain proceeding or in any other manner by exercise of the right of eminent domain or of anything lawfully done by public
authority, except that (a) Tenant shall be entitled to pursue recovery from the applicable public authority for Tenant’s moving expenses, trade fixtures and equipment and any leasehold improvements installed by Tenant in the Premises or
Building at its own sole expense, but only to the extent Tenant would have been entitled to remove such items at the expiration of the term of this Lease and then only to the extent of the then remaining unamortized value of such improvements
computed on a straight-line basis over the term of this Lease, and (b) any condemnation awards or proceeds described in Section 15.2(b) shall be allocated and disbursed in accordance with the provisions of Section 15.2(b),
notwithstanding any contrary provisions of this Section 15.3. 
 15.4 Restoration of Improvements. In connection
with any repair or restoration of improvements by either party following a casualty or taking as hereinabove set forth, the party responsible for such repair or restoration shall, to the extent possible, return such improvements to a condition
substantially equal to that which existed immediately prior to the casualty or taking. To the extent such party wishes to make material modifications to such improvements, such modifications shall be subject to the prior written approval of the
other party (not to be unreasonably withheld, conditioned or delayed), except that no such approval shall be required for modifications that are required by applicable governmental authorities as a condition of the repair or restoration, unless such
required modifications would impair or impede Tenant’s conduct of its business in the Premises (in which case any such modifications in Landlord’s work shall require Tenant’s consent, not unreasonably withheld, conditioned or delayed)
or would materially and adversely affect the exterior appearance, the structural integrity or the mechanical or other operating systems of the Premises or Building (in which case any such modifications in Tenant’s work shall require
Landlord’s consent, not unreasonably withheld, conditioned or delayed). 
 16. DEFAULT 

16.1 Events of Default. The occurrence of any of the following shall constitute an event of default on the part of Tenant:

 (a) Abandonment. Abandonment of the Premises. “Abandonment” is hereby defined to include, but
is not limited to, any absence by Tenant from the Premises for fifteen (15) consecutive days or more while Tenant is in default under any other provision of this Lease. Tenant waives any right Tenant may have to notice under Section 1951.3
of the California Civil Code, the terms of this subsection (a) being deemed such notice to Tenant as required by said Section 1951.3; 
 (b) Nonpayment. Failure to pay, when due, any amount payable to Landlord hereunder, such failure continuing for a period of five (5) business days after written notice of such failure;
provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161 et seq., as amended from time to time; 

  
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 (c) Other Obligations. Failure to perform any obligation, agreement or covenant under
this Lease other than those matters specified in subsection (b) hereof, such failure continuing for thirty (30) days after written notice of such failure; provided, however, that if such failure is curable in nature but cannot
reasonably be cured within such 30-day period, then Tenant shall not be in default if, and so long as, Tenant promptly (and in all events within such 30-day period) commences such cure and thereafter diligently pursues such cure to completion; and
provided further, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161 et seq., as amended from time to time; 

(d) General Assignment. A general assignment by Tenant for the benefit of creditors; 

(e) Bankruptcy. The filing of any voluntary petition in bankruptcy by Tenant, or the filing of an involuntary petition by
Tenant’s creditors, which involuntary petition remains undischarged for a period of thirty (30) days. In the event that under applicable law the trustee in bankruptcy or Tenant has the right to affirm this Lease and continue to perform the
obligations of Tenant hereunder, such trustee or Tenant shall, in such time period as may be permitted by the bankruptcy court having jurisdiction, cure all defaults of Tenant hereunder outstanding as of the date of the affirmance of this Lease and
provide to Landlord such adequate assurances as may be necessary to ensure Landlord of the continued performance of Tenant’s obligations under this Lease. Specifically, but without limiting the generality of the foregoing, such adequate
assurances must include assurances that the Premises continue to be operated only for the use permitted hereunder. The provisions hereof are to assure that the basic understandings between Landlord and Tenant with respect to Tenant’s use of the
Center and the benefits to Landlord therefrom are preserved, consistent with the purpose and intent of applicable bankruptcy laws; 
 (f) Receivership. The employment of a receiver appointed by court order to take possession of substantially all of Tenant’s assets or the Premises, if such receivership remains undissolved for
a period of thirty (30) days; 
 (g) Attachment. The attachment, execution or other judicial seizure of all or
substantially all of Tenant’s assets or the Premises, if such attachment or other seizure remains undismissed or undischarged for a period of thirty (30) days after the levy thereof; or 

(h) Insolvency. The admission by Tenant in writing of its inability to pay its debts as they become due, the filing by Tenant of a
petition seeking any reorganization or arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the filing by Tenant of an answer admitting or failing timely to
contest a material allegation of a petition filed against Tenant in any such proceeding or, if within thirty (30) days after the commencement of any proceeding against Tenant seeking any reorganization or arrangement, composition, readjustment,
liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed. 
 16.2 Remedies upon Tenant’s Default. 
 (a) Upon the occurrence of any
event of default described in Section 16.1 hereof, Landlord, in addition to and without prejudice to any other rights or remedies it may have, shall have the immediate right (subject to compliance with applicable laws) to re-enter the Premises
or any part thereof and repossess the same, expelling and removing therefrom all persons and property (which property may be stored in a public warehouse or elsewhere at the cost and risk of and for the account of Tenant). In addition to or in lieu
of such re-entry, and without prejudice to any other rights or remedies it may have, Landlord shall have the right either (i) to terminate this Lease and recover from Tenant all damages incurred by Landlord as a result of Tenant’s default,
as hereinafter provided, or (ii) to continue this Lease in effect and recover rent and other charges and amounts as they become due. 
 (b) Even if Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession under subsection
(a) hereof and Landlord may enforce all of its rights and remedies 

  
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under this Lease, including the right to recover rent as it becomes due, and Landlord, without terminating this Lease, may exercise all of the rights and remedies of a lessor under California
Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations), or any successor
Code section. Acts of maintenance, preservation or efforts to relet the Premises or the appointment of a receiver upon application of Landlord to protect Landlord’s interests under this Lease shall not constitute a termination of Tenant’s
right to possession. 
 (c) If Landlord terminates this Lease pursuant to this Section 16.2, Landlord shall have all of the
rights and remedies of a landlord provided by Section 1951.2 of the Civil Code of the State of California, or any successor Code section, which remedies include Landlord’s right to recover from Tenant (i) the worth at the time of
award of the unpaid rent and additional rent which had been earned at the time of termination, (ii) the worth at the time of award of the amount by which the unpaid rent and additional rent which would have been earned after termination until
the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided, (iii) the worth at the time of award of the amount by which the unpaid rent and additional rent for the balance of the term after
the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its
obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including necessary repair,
renovation and alteration of the Premises, reasonable attorneys’ fees, and other reasonable costs. The “worth at the time of award” of the amounts referred to in clauses (i) and (ii) above shall be computed by
allowing interest at ten percent (10%) per annum from the date such amounts accrued to Landlord. The “worth at the time of award” of the amounts referred to in clause (iii) above shall be computed by discounting
such amount at one percentage point above the discount rate of the Federal Reserve Bank of San Francisco at the time of award. 

16.3 Remedies Cumulative. All rights, privileges and elections or remedies of Landlord contained in this Article 16 are cumulative
and not alternative to the extent permitted by law and except as otherwise provided herein. 
 17. SUBORDINATION, ATTORNMENT
AND SALE 
 17.1 Subordination to Mortgage. This Lease, and any sublease entered into by Tenant under the provisions
of this Lease, shall be subject and subordinate to any ground lease, mortgage, deed of trust, sale/leaseback transaction or any other hypothecation for security now or hereafter placed upon the Premises, the Building, the Center, or any of them, and
the rights of any assignee of Landlord or of any ground lessor, mortgagee, trustee, beneficiary or leaseback lessor under any of the foregoing, and to any and all advances made on the security thereof and to all renewals, modifications,
consolidations, replacements and extensions thereof; provided, however, that such subordination in the case of any future ground lease, mortgage, deed of trust, sale/leaseback transaction or any other hypothecation for security placed upon
the Premises, the Building, the Center, or any of them shall be conditioned on Tenant’s receipt from the ground lessor, mortgagee, trustee, beneficiary or leaseback lessor of a non-disturbance agreement in a form reasonably acceptable to Tenant
(a “Non-Disturbance Agreement”) (i) confirming that so long as Tenant is not in material default hereunder beyond any applicable cure period (for which purpose the occurrence and continuance of any event of default under
Section 16.1 hereof shall be deemed to be “material”), Tenant’s rights hereunder shall not be disturbed by such person or entity and (ii) agreeing that the benefit of such Non-Disturbance Agreement shall be transferable to
any transferee under a Permitted Transfer and to any other assignee or subtenant that is acceptable to the ground lessor, mortgagee, trustee, beneficiary or leaseback lessor at the time of transfer. Landlord shall use commercially reasonable efforts
to obtain a Non-Disturbance Agreement from any current ground lessor, mortgagee, trustee, beneficiary or leaseback lessor within sixty (60) days following the Lease Commencement Date. If any mortgagee, trustee, beneficiary, ground lessor,
sale/leaseback lessor or assignee elects to have this Lease be an encumbrance upon the Center prior to the lien of its mortgage, deed of trust, ground lease or leaseback lease or other security arrangement and gives notice thereof to Tenant, this
Lease shall be deemed prior thereto, whether this Lease is dated prior or subsequent to the date thereof or the 

  
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date of recording thereof. Tenant, and any sublessee, shall execute such documents as may reasonably be requested by any mortgagee, trustee, beneficiary, ground lessor, sale/leaseback lessor or
assignee to evidence the subordination herein set forth, subject to the conditions set forth above, or to make this Lease prior to the lien of any mortgage, deed of trust, ground lease, leaseback lease or other security arrangement, as the case may
be. Upon any default by Landlord in the performance of its obligations under any mortgage, deed of trust, ground lease, leaseback lease or assignment, Tenant (and any sublessee) shall, notwithstanding any subordination hereunder, attorn to the
mortgagee, trustee, beneficiary, ground lessor, leaseback lessor or assignee thereunder upon demand and become the tenant of the successor in interest to Landlord, at the option of such successor in interest, and shall execute and deliver any
instrument or instruments confirming the attornment herein provided for. 
 17.2 Sale of Landlord’s Interest. Upon
sale, transfer or assignment of Landlord’s entire interest in the Building and the Center and the assumption of Landlord’s obligations under this Lease by the purchaser, transferee or assignee, Landlord shall be relieved of its obligations
hereunder with respect to liabilities accruing from and after the date of such sale, transfer or assignment. 
 17.3 Estoppel
Certificates. Tenant or Landlord (the “responding party”), as applicable, shall at any time and from time to time, within ten (10) business days after written request by the other party (the “requesting
party”), execute, acknowledge and deliver to the requesting party a certificate in writing stating: (i) that this Lease is unmodified and in full force and effect, or if there have been any modifications, that this Lease is in full
force and effect as modified and stating the date and the nature of each modification; (ii) the date to which rental and all other sums payable hereunder have been paid; (iii) that the requesting party is not in default in the performance
of any of its obligations under this Lease, that the certifying party has given no notice of default to the requesting party and that no event has occurred which, but for the expiration of the applicable time period, would constitute an event of
default hereunder, or if the responding party alleges that any such default, notice or event has occurred, specifying the same in reasonable detail; and (iv) such other matters as may reasonably be requested by the requesting party or by any
institutional lender, mortgagee, trustee, beneficiary, ground lessor, sale/leaseback lessor or prospective purchaser of the Center, or prospective sublessee or assignee of this Lease. Any such certificate provided under this Section 17.3 may be
relied upon by any lender, mortgagee, trustee, beneficiary, assignee or successor in interest to the requesting party, by any prospective purchaser, by any purchaser on foreclosure or sale, by any grantee under a deed in lieu of foreclosure of any
mortgage or deed of trust on the Property, by any subtenant or assignee, or by any other third party. Failure to execute and return within the required time any estoppel certificate requested hereunder, if such failure continues for five business
(5) days after a second written request by the requesting party for such estoppel certificate, shall be deemed to be an admission of the truth of the matters set forth in the form of certificate submitted to the responding party for execution.

 17.4 Subordination to CC&R’s. This Lease, and any permitted sublease entered into by Tenant under the
provisions of this Lease, and the interests in real property conveyed hereby and thereby shall be subject and subordinate (a) to any declarations of covenants, conditions and restrictions or other recorded restrictions affecting the Center or
any portion thereof from time to time, provided that the terms of such declarations or restrictions are reasonable (or, to the extent they are not reasonable, are mandated by applicable law), do not materially impair Tenant’s ability to
conduct the uses permitted hereunder on the Premises and in the Center, and do not discriminate against Tenant relative to other similarly situated tenants occupying the portion(s) of the Center covered by such declarations or restrictions,
(b) to the Declaration of Covenants, Conditions and Restrictions for Pointe Grand Business Park dated November 4, 1991 and recorded on February 25, 1992 as Instrument No. 92025214, Official Records of San Mateo County, as amended
from time to time (the “Master Declaration”), the provisions of which Master Declaration are an integral part of this Lease, (c) to the Declaration of Covenants, Conditions and Restrictions dated November 23, 1987
and recorded on November 24, 1987 as Instrument No. 87177987, Official Records of San Mateo County, which declaration imposes certain covenants, conditions and restrictions on the Pointe Grand Business Park, and (d) to the
Environmental Restriction and Covenant (Pointe Grand) dated as of April 16, 1997 and recorded on April 16, 1997 as Instrument No. 97-043682, Official Records of San Mateo County, as amended from time to time (the
“Environmental Restriction”), the provisions of which 

  
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Environmental Restriction are incorporated herein by this reference and which Environmental Restriction imposes certain covenants, conditions and restrictions on the Pointe Grand Business Park.
Tenant agrees to execute, upon request by Landlord, any documents reasonably required from time to time to evidence the foregoing subordination. 
 17.5 Mortgagee Protection. If, following a default by Landlord under any mortgage, deed of trust, ground lease, leaseback lease or other security arrangement covering the Building, the Center, or
any portion of them, the Building and/or the Center, as applicable, is acquired by the mortgagee, beneficiary, master lessor or other secured party, or by any other successor owner, pursuant to a foreclosure, trustee’s sale, sheriffg sale,
lease termination or other similar procedure (or deed in lieu thereof), then any such person or entity so acquiring the Building and/or the Center shall not be: 
 (a) liable for any act or omission of a prior landlord or owner of the Center (including, but not limited to, Landlord); 
 (b) subject to any offsets or defenses that Tenant may have against any prior landlord or owner of the Center (including, but not limited to, Landlord); 

(c) bound by any rent or additional rent that Tenant may have paid in advance to any prior landlord or owner of the Center (including,
but not limited to, Landlord) for a period in excess of one month, or by any security deposit, cleaning deposit or other prepaid charge that Tenant may have paid in advance to any prior landlord or owner (including, but not limited to, Landlord),
except to the extent such deposit or prepaid amount has been expressly turned over to or credited to the successor owner thus acquiring the Center; 
 (d) liable for any warranties or representations of any nature whatsoever, whether pursuant to this Lease or otherwise, by any prior landlord or owner of the Center (including, but not limited to,
Landlord) with respect to the use, construction, zoning, compliance with laws, title, habitability, fitness for purpose or possession, or physical condition (including, without limitation, environmental matters) of the Building or the Center; or

 (e) liable to Tenant in any amount beyond the interest of such mortgagee, beneficiary, master lessor or other secured party
or successor owner in the Center as it exists from time to time, it being the intent of this provision that Tenant shall look solely to the interest of any such mortgagee, beneficiary, master lessor or other secured party or successor owner in the
Center for the payment and discharge of the landlord’s obligations under this Lease and that such mortgagee, beneficiary, master lessor or other secured party or successor owner shall have no separate personal liability for any such
obligations. 
 18. SECURITY 
 18.1 No Security Deposit. Tenant is not required to provide Landlord with any security deposit in connection with this Lease. 

19. MISCELLANEOUS 
 19.1 Notices. All notices, consents, waivers and other communications which this Lease requires or permits either party to give to the other shall be in writing and shall be deemed given when
delivered personally (including delivery by private same-day or overnight courier or express delivery service) or by telecopier with mechanical confirmation of transmission, effective upon personal delivery to or refusal of delivery by the recipient
(in the case of personal delivery by any of the means described above) or upon telecopier transmission during normal business hours at the recipient’s office (in the case of telecopier transmission, with any transmission outside of normal
business hours being effective as of the beginning of the first business day commencing after the time of actual transmission) to the parties at their respective addresses as follows: 

  
 - 30 -

			
	To Tenant:	  	 Portola Pharmaceuticals, Inc.

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

		  	 Attn: Chief Financial Officer

Telecopier: (650) 246-7776

		
	with a copy to:	  	 Cooley Godward Kronish LLP

101 California Street,
5th Floor

San Francisco, CA 94111

		  	 Attn: Anna B. Pope, Esq.

Telecopier: (415) 693-2999

		
	To Landlord:	  	 Britannia Pointe Grand Limited Partnership
 c/o Slough Estates USA Inc.
 444 North Michigan Avenue, Suite 3230

		  	 Chicago, IL 60611
 Attn:
Randy Rohner
 Telecopier: (312) 755-0717

		
	with a copy to:	  	 Britannia Management Services, Inc.
 555 Twelfth Street, Suite 1650
 Oakland, CA 94607

		  	Telecopier: (510) 763-6262
		
	and a copy to:	  	 Folger Levin & Kahn LLP
 Embarcadero Center West
 275 Battery Street, 23rd Floor

		  	 San Francisco, CA 94111

Attn: Donald E. Kelley, Jr.
 Telecopier: (415)
986-2827

 or to such other address(es) as may be contained in a notice of address change given by either party to the other
pursuant to this Section, effective no earlier than fifteen (15) days after delivery of such notice to the receiving party. Rental payments and other sums required by this Lease to be paid by Tenant shall be delivered to Landlord in care of
Britannia Management Services, Inc., 555 Twelfth Street, Suite 1650, Oakland, CA 94607, or at such other address as Landlord may from time to time specify in writing to Tenant, and shall be deemed to be paid only upon actual receipt. 

19.2 Successors and Assigns. The obligations of this Lease shall run with the land, and this Lease shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns, except that the original Landlord named herein and each successive Landlord under this Lease shall be liable only for obligations accruing during the period of its
ownership of the Center, and any liability for obligations accruing after termination of such ownership shall terminate as of the date of such termination of ownership and shall pass to the successor lessor. 

19.3 No Waiver. The failure of either party to seek redress for violation, or to insist upon the strict performance, of any
covenant or condition of this Lease shall not be deemed a waiver of such violation, or prevent a subsequent act which would originally have constituted a violation from having all the force and effect of an original violation. 

19.4 Severability. If any provision of this Lease or the application thereof is held to be invalid or unenforceable, the remainder
of this Lease or the application of such provision to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby, and each of the provisions of this Lease shall be valid and enforceable, unless
enforcement of this Lease as so invalidated would be unreasonable or grossly inequitable under all the circumstances or would materially frustrate the purposes of this Lease. 
 19.5 Litigation between Parties. In the event of any litigation or other dispute resolution proceedings between the parties hereto arising out of or in connection with this Lease, the prevailing
party shall be reimbursed for all reasonable costs, including, but not limited to, 

  
 - 31 -

 
reasonable accountants’ fees and attorneys’ fees, incurred in connection with such proceedings (including, but not limited to, any appellate proceedings relating thereto) or in
connection with the enforcement of any judgment or award rendered in such proceedings. “Prevailing party” within the meaning of this Section shall include, without limitation, a party who dismisses an action for recovery
hereunder in exchange for payment of the sums allegedly due, performance of covenants allegedly breached or consideration substantially equal to the relief sought in the action. 

19.6 Surrender. A voluntary or other surrender of this Lease by Tenant, or a mutual termination thereof between Landlord and
Tenant, shall not result in a merger but shall, at the option of Landlord, operate either as an assignment to Landlord of any and all existing subleases and subtenancies, or a termination of all or any existing subleases and subtenancies. This
provision shall be contained in any and all assignments or subleases made pursuant to this Lease. 
 19.7 Interpretation.
The provisions of this Lease shall be construed as a whole, according to their common meaning, and not strictly for or against Landlord or Tenant. The captions preceding the text of each Section and subsection hereof are included only for
convenience of reference and shall be disregarded in the construction or interpretation of this Lease. 
 19.8 Entire
Agreement. This written Lease, together with the exhibits hereto, contains all the representations and the entire understanding between the parties hereto with respect to the subject matter hereof. Any prior correspondence, memoranda or
agreements are replaced in total by this Lease and the exhibits hereto. This Lease may be modified only by an agreement in writing signed by each of the parties. 
 19.9 Governing Law. This Lease and all exhibits hereto shall be construed and interpreted in accordance with and be governed by all the provisions of the laws of the State of California.

 19.10 No Partnership. The relationship between Landlord and Tenant is solely that of a lessor and lessee. Nothing
contained in this Lease shall be construed as creating any type or manner of partnership, joint venture or joint enterprise with or between Landlord and Tenant. 
 19.11 Financial Information. From time to time Tenant shall promptly provide directly to prospective lenders and purchasers of the Center designated by Landlord such financial information
pertaining to the financial status of Tenant as Landlord may reasonably request; provided, Tenant shall be permitted to provide such financial information in a manner which Tenant deems reasonably necessary to protect the confidentiality of
such information. In addition, from time to time, Tenant shall provide Landlord with such financial information pertaining to the financial status of Tenant as Landlord may reasonably request. Landlord agrees that all financial information supplied
to Landlord by Tenant shall be treated as confidential material, and shall not be disseminated to any party or entity (including any entity affiliated with Landlord) without Tenant’s prior written consent, except that Landlord shall be entitled
to provide such information, subject to reasonable precautions to protect the confidential nature thereof, (i) to Landlord’s partners and professional advisors, solely to use in connection with Landlord’s execution and enforcement of
this Lease, and (ii) to prospective lenders and/or purchasers of the Center, solely for use in connection with their bona fide consideration of a proposed financing or purchase of the Center, provided that such prospective lenders and/or
purchasers are not then engaged in businesses directly competitive with the business then being conducted by Tenant. For purposes of this Section, without limiting the generality of the obligations provided herein, it shall be deemed reasonable for
Landlord to request copies of Tenant’s most recent audited annual financial statements, or, if audited statements have not been prepared, unaudited financial statements for Tenant’s most recent fiscal year, accompanied by a certificate of
Tenant’s chief financial officer that such financial statements fairly present Tenant’s financial condition as of the date(s) indicated. Notwithstanding any other provisions of this Section 19.11, during any period in which Tenant has
outstanding a class of publicly traded securities and is filing with the Securities and Exchange Commission, on a regular and timely basis, Forms 10Q and 10K and any other periodic filings required under the Securities Exchange Act of 1934, as
amended, Tenant need not furnish Landlord with any further financial statements, it being agreed that Landlord’s access to Tenant’s filings with the Securities and 

  
 - 32 -

 
Exchange Commission shall be sufficient to satisfy Tenant’s obligations to provide financial information to Landlord. 

Landlord and Tenant recognize the need of Tenant to maintain the confidentiality of information regarding its financial status and the
need of Landlord to be informed of, and to provide to prospective lenders and purchasers of the Center financial information pertaining to, Tenant’s financial status. Landlord and Tenant agree to cooperate with each other in achieving these
needs within the context of the obligations set forth in this Section. 
 19.12 Costs. If Tenant requests the consent of
Landlord under any provision of this Lease for any act that Tenant proposes to do hereunder, including, without limitation, assignment or subletting of the Premises, Tenant shall, as a condition to doing any such act and the receipt of such consent,
reimburse Landlord promptly for any and all reasonable costs and expenses incurred by Landlord in connection therewith, including, without limitation, reasonable attorneys’ fees. 

19.13 Time. Time is of the essence of this Lease, and of every term and condition hereof. 

19.14 Rules and Regulations. Tenant shall observe, comply with and obey, and shall cause its employees, agents and, to the best of
Tenant’s ability, invitees to observe, comply with and obey such reasonable rules and regulations for the safety, care, cleanliness, order and use of the Building and the Center as Landlord may promulgate and deliver to Tenant from time to
time. 
 19.15 Brokers. Landlord shall pay a brokerage commission to CB Richard Ellis, Inc., representing both Tenant and
Landlord, in connection with the consummation of this Lease, in accordance with a separate written agreement. Each party represents and warrants that no other broker participated in the consummation of this Lease and agrees to indemnify, defend and
hold the other party harmless against any liability, cost or expense, including, without limitation, reasonable attorneys’ fees, arising out of any claims for brokerage commissions or other similar compensation in connection with any
conversations, prior negotiations or other dealings by the indemnifying party with any other broker. 
 19.16 Memorandum of
Lease. At any time during the term of this Lease, either party, at its sole expense, shall be entitled to record a memorandum of this Lease and, if either party so requests, both parties agree to cooperate in the preparation, execution,
acknowledgment and recordation of such document in reasonable form. If such a memorandum of lease is recorded, then upon expiration or termination of this Lease, Tenant agrees prornptly to execute, acknowledge and deliver to Landlord, upon written
request by Landlord, a Termination of Memorandum of Lease in such form as Landlord may reasonably request, for the purpose of terminating any continuing effect of the previously recorded memorandum of lease as a cloud upon title to the Property.

 19.17 Organizational Authority. Each party to this Lease represents and warrants that the person signing this Lease on
behalf of such party is fully authorized to do so and, by so doing, to bind such party. 
 19.18 Execution and Delivery.
Submission of this Lease for examination or signature by Tenant does not constitute an agreement or reservation of or option for lease of the Premises. This instrument shall not be effective or binding upon either party, as a lease or otherwise,
until executed and delivered by both Landlord and Tenant. This Lease may be executed in one or more counterparts and by separate parties on separate counterparts, but each such counterpart shall constitute an original and all such counterparts
together shall constitute one and the same instrument. 
 19.19 Survival. Without limiting survival provisions which
would otherwise be implied or construed under applicable law, the provisions of Sections 2.5, 7.4, 9.2, 9.3, 9.4, 10.2(c), 11.6, 12.6, 19.5 and 19.16 hereof shall survive the termination of this Lease with respect to matters occurring prior to the
expiration of this Lease. 

  
 - 33 -

 19.20 Parking. Landlord agrees that the Common Areas, taken as a whole, shall include
parking in amounts sufficient to satisfy the minimum parking requirements of the City of South San Francisco applicable to the Center from time to time, and that there shall be no additional cost or charge to Tenant for the nonexclusive,
non-reserved use of such parking by Tenant and its employees and invitees. Landlord represents to Tenant that the existing parking in the Center consists of approximately 3.0 spaces per 1,000 square feet. 

IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the day and year first set forth above. 

 

											
	“Landlord”	 		 	“Tenant”
			
	BRITANNIA POINTE GRAND LIMITED PARTNERSHIP, a Delaware limited partnership	 		 	PORTOLA PHARMACEUTICALS, INC., a Delaware corporation
					
	By:	 	 Slough Pointe Grand Incorporated, a
 Delaware corporation, Its General 
	 		 	By:	 	 /s/ Carol Olson

		 	Partner	 		 	Its:	 	 EVP

						
		 	By:	 	 /s/ Jonathan M. Bergschneider
	 		 	By:	 	 /s/ Charles J. Homey

		 		 	 Jonathan M. Bergschneider

Senior Vice President
	 		 	Its:	 	 President and Chief Executive Officer

  
 - 34 -

 EXHIBITS 

 

							
		  	 EXHIBIT A
	 	Descriptions of Phase I Property and Center	  	
				
		  	 EXHIBIT A-1
	 	Depiction of Phase I Property	  	
				
		  	 EXHIBIT B-1
	 	Site Plan (The Center)	  	
				
		  	 EXHIBIT B-2
	 	Decommissioning Space	  	
				
		  	 EXHIBIT C
	 	Acknowledgment of Rent Commencement Date	  	
				
		  	 EXHIBIT D
	 	Form of Warrant	  	

  
 - 35 -

 EXHIBIT A 

REAL PROPERTY DESCRIPTION 
 The Phase I Property: 
 All that certain real property in the City of South San Francisco,
County of San Mateo, State of California, more particularly described as follows: 
 Lot 3 as shown on Parcel Map No. 91-284, “Being a
resubdivision of the parcels described in the deeds to Metal and Thermit Corporation, recorded in Book 293, at Page 394 of Deeds; in Book 49, at Page 490, Official Records; in Book 77, at Page 415, Official Records; and, except that parcel described
in Book 1352, at Page 373, Official Records,” filed on February 25, 1992, in Book 65 of Parcel Maps, in the Office of the Recorder of the County of San Mateo, California. 
 The Center: 
 All that certain real property in the City of South San Francisco, County of
San Mateo, State of California, more particularly described as follows: 
 Lots 1, 2, 3 and 4, inclusive, as shown on Parcel Map
No. 91-284, “Being a resubdivision of the parcels described in the deeds to Metal and Thermit Corporation, recorded in Book 293, at Page 394 of Deeds; in Book 49, at Page 490, Official Records; in Book 77, at Page 415, Official Records;
and, except that parcel described in Book 1352, at Page 373, Official Records,” filed on February 25, 1992, in Book 65 of Parcel Maps, in the Office of the Recorder of the County of San Mateo, California. 

Together with all adjacent or substantially adjacent areas owned by Landlord and depicted on the Site Plan (Exhibit B to this Lease) as being part
of the Center. 

  
 EXHIBIT
A TO LEASE 

 EXHIBIT A-1 

DEPICTION OF PHASE I PROPERTY 
 

 

  
 EXHIBIT
A-1 TO LEASE 

 EXHIBIT B-1 

SITE PLAN (THE CENTER) 
 

 

  
 EXHIBIT
B-1 TO LEASE 

 EXHIBIT B-2 

DECOMMISSIONING SPACE 
 

 

  
 EXHIBIT
B-2 TO LEASE 

 EXHIBIT C 

ACKNOWLEDGMENT OF RENT COMMENCEMENT DATE 
 This Acknowledgment is executed as of             , 200    , by BRITANNIA POINTE GRAND LIMITED PARTNERSHIP, a Delaware
limited partnership (“Landlord”), and PORTOLA PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), pursuant to Section 2.4 of the Lease dated December 15, 2006 between Landlord and
Tenant (the “Lease”) covering premises located at 270 East Grand Avenue, Suite 52, South San Francisco, CA 94080 (the “Premises”). 

Landlord and Tenant hereby acknowledge and agree as follows: 
 1. The Rent Commencement Date under the Lease is             , 200    . 

2. The termination date under the Lease shall be June 30, 2009, subject to any applicable provisions of the Lease for extension or
early termination thereof. 
 3. The square footage of the Premises is 24,725 square feet. 

4. Tenant accepts the Premises, subject only to Landlord’s warranties and representations set forth in the Lease. 

EXECUTED as of the date first set forth above. 
  

											
	“Landlord”	 		 	“Tenant”
			
	 BRITANNIA POINTE GRAND LIMITED
 PARTNERSHIP, a Delaware limited
 partnership
	 		 	 PORTOLA PHARMACEUTICALS, INC.,
 a Delaware corporation

					
	By:	 	Slough Pointe Grand Incorporated, a Delaware corporation, Its General Partner	 		 	By:	 	  

	 	 	 	Its:	 	  

						
		 	By:	 	  
	 		 	By:	 	  

		 		 	 Jonathan M. Bergschneider

Senior Vice President
	 		 	Its:	 	  

  
 EXHIBIT
C TO LEASE 

 EXHIBIT D 

FORM OF WARRANT 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“1933 ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE 1933 ACT AND ANY APPLICABLE STATE
SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN
COMPLIANCE WITH THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 PORTOLA PHARMACEUTICALS, INC. 

WARRANT TO PURCHASE SHARES OF COMMON STOCK 
  

			
	Warrant No.         	 	December     , 2006
	                Shares of Common Stock	 	

 1. Issuance. For value received, this Warrant is issued to
                                        , or its
assigns, by PORTOLA PHARMACEUTICALS, INC., a Delaware corporation (hereinafter with its successors called the “Company”), in satisfaction of certain requirements under that certain Lease dated as of December 15, 2006,
between the Company as tenant and Britannia Pointe Grand Limited Partnership as landlord. The term “Warrant” as used herein shall include both this warrant itself and any warrants delivered in substitution or exchange
therefor as provided herein. 
 2. Purchase Price; Number of Shares. The registered holder of this Warrant (the
“Holder”) is entitled upon surrender of this Warrant at the principal office of the Company, with either the subscription form annexed hereto (and simultaneous payment as hereinafter provided) or the net issue election form
annexed hereto, in either case duly executed, to purchase from the Company up to fifteen thousand (15,000) fully paid and nonassessable shares of common stock of the Company (the “Stock”), at a price of $1.31 per share
(the “Purchase Price”). This Warrant is exercisable at any time or from time to time, in whole or in part, at the sole option of the Holder, on or before the Expiration Date as hereinafter defined. Until such time as this
Warrant is exercised in full or expires, the Purchase Price and the securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter provided. The person or persons under whose name or names any certificate representing
shares of Stock is issued hereunder shall be deemed to have become the holder of record of the shares represented thereby as at the close of business on the date this Warrant is exercised with respect to such shares, whether or not the transfer
books of the Company shall be closed. 
 3. Payment of Purchase Price. The Purchase Price may be paid (i) in cash,
by check or by wire transfer; (ii) in the manner provided in Section 4 below; or (iii) by any combination of the foregoing. 
 4. Net Issue Election. As an alternative to payment of the Purchase Price in accordance with clause (i) of Section 3 above, if the fair market value of one share of the Company’s
Common Stock is greater than the Purchase Price (at the date of calculation as set forth below), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Stock equal to the value of this Warrant
or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the principal office of the Company. Thereupon, the

  
 EXHIBIT
D TO LEASE 

 
Company shall issue to the Holder such number of fully paid and nonassessable shares of Stock as is computed using the following formula: 

 

					
	X  = 	 	  Y(A - B)
	  	
	 	A	  	

  

					
			
	where:	  	X =	  	the number of shares of Stock to be issued to the Holder pursuant to this Section 4;
			
		  	Y =	  	the number of shares of Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4;
			
		  	A =	  	the Fair Market Value (defined below) of one share of Stock, as determined at the time the net issue election is made pursuant to this Section 4; and
			
		  	B =	  	the Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.

 “Fair Market Value” of one share of Stock as of a particular date (the “Determination
Date”) shall mean the closing or last reported sale price of one share of Stock as reported on a national securities exchange or the NASDAQ Global Market on the business day immediately preceding the Determination Date; provided,
however, that (i) if the Stock is not traded on either a national securities exchange or the NASDAQ Global Market, then Fair Market Value shall be the last reported sale price of one share of Stock on the business day immediately preceding the
Determination Date reflected in the over-the-counter market, as reported by the National Quotation Bureau, Inc. or any organization performing a similar function, or if closing prices are not then routinely reported for the over-the-counter market,
the average of the last bid and asked prices of one share of Stock on the business day immediately preceding the Determination Date and (ii) if there is no public market for the Stock, then Fair Market Value shall be determined in good faith by
the Company’s Board of Directors. 
 5. Partial Exercise. This Warrant may be exercised in part, in which event upon
such exercise the Holder shall receive from the Company a new warrant covering the number of shares in respect of which this Warrant shall not have been exercised, which new warrant shall be dated as of the date of this Warrant and shall be
otherwise in the form of this Warrant. 
 6. Fractional Shares. In no event shall any fractional share of Stock be issued
upon any exercise of this Warrant. If, upon any exercise of this Warrant, the Holder would, but for the provisions of this Section 6, be entitled to receive a fractional share of Stock, then the Company shall in lieu thereof pay the Holder the
Fair Market Value of such fractional share in cash. 
 7. Expiration Date. This Warrant shall expire at the close of
business on the date (the “Expiration Date”) which is seven (7) years after the initial public offering (if any) of the Company’s common stock in an offering registered under the 1933 Act. 

8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and after the date hereof reserve and
keep available such number of its authorized shares of Stock, free from all preemptive or similar rights therein, as will be sufficient to permit the exercise of this Warrant in full into shares of Stock upon such exercise. The Company further
covenants that such shares as may be issued pursuant to such exercise will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof. 

9. Adjustment for Stock Splits and Dividends. If after the date hereof the Company shall subdivide the Stock, by split-up or
otherwise, or combine the Stock, by reverse split-up or otherwise, or issue additional shares of Stock in payment of a stock dividend on the Stock, the number of shares of Stock issuable on the exercise of this Warrant shall automatically be
proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall automatically be proportionately decreased in the case of a subdivision or stock
dividend, or proportionately increased in the case of a combination. 

  
 EXHIBIT
D TO LEASE (Page 2) 

 10. Reorganizations. If after the date hereof the Company shall enter into any
Reorganization (as hereinafter defined), then the Company shall use its reasonable best efforts to cause lawful provisions to be made, and duly executed documents evidencing the same from the Company or its successor to be delivered to the Holder,
to structure the Reorganization in such a manner that upon consummation of the Reorganization, the Holder shall receive, in exchange for this Warrant, a new Warrant giving the Holder the right to receive, upon exercise of such new Warrant, shares in
the surviving, acquiring or other successor entity (the “Successor Entity”) in accordance with the following sentence. The new warrant (x) shall be for a number and class of shares equal to the sum of (i) the number
and class of shares (if any) of the Successor Entity which the Holder would have received as a result of or in connection with the Reorganization if the Holder had held at the time of the Reorganization the number of shares of Stock for which this
Warrant is then exercisable and (ii) the number of shares of the Successor Entity of the same class described in clause (i) above (or, if there were no such shares issued in the Reorganization, then shares of the most widely held class of
common stock of the Successor Entity) having an aggregate fair market value as of the closing of the Reorganization equal to the value of any and all other consideration the Holder would have received as a result of or in connection with the
Reorganization if the Holder had held at the time of the Reorganization the number of shares of Stock for which this Warrant is then exercisable, subject in each instance to adjustments as nearly equivalent as may be practicable to the adjustments
provided for in Section 9 above (other than with respect to the Reorganization itself) and in this Section 10, (y) shall have an aggregate Purchase Price equal to the aggregate Purchase Price under this Warrant immediately prior to
the Reorganization (but the per-share Purchase Price shall be appropriately adjusted) and (z) shall otherwise have an expiration date and other terms identical to those of this Warrant. For the purposes of this Section 10, the term
“Reorganization” shall mean (A) any consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, as a result of which the stockholders of the
Company immediately prior to such consolidation, merger or reorganization, own, immediately following consummation of the consolidation or merger, less than fifty percent (50%) of the voting power of the surviving entity (or, if the surviving
entity is a wholly owned subsidiary, less than fifty percent (50%) of the voting power of its parent); (B) any transaction or series of related transactions to which the Company is a party in which in excess of fifty percent (50%) of
the Company’s voting power is transferred; or (C) a sale, lease or other disposition of all or substantially all of the assets of the Company; provided, however, that a Reorganization shall not include (x) any consolidation or
merger effected exclusively to change the domicile of the Company, or (y) any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor or indebtedness of
the Company is cancelled or converted or a combination thereof in consideration solely for the issuance of equity securities. 

The Company shall notify the Holder at least ten (10) business days prior to the closing of any proposed Reorganization. The Holder
may elect to exercise this Warrant contingent upon the closing of a Reorganization. If the Reorganization does not close within sixty (60) days after notice, any such contingent exercise shall be void. 

11. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided, the Company shall promptly deliver to
the Holder a certificate of the Company’s Chief Financial Officer setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 

12. Notices of Record Date, Etc. In the event of: 
 (a) any taking by the Company of a record of the holders of the Company’s common stock for the purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or any right to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any class or any other securities or property, or to receive any other right; 

(b) any reclassification of the capital stock of the Company, capital reorganization of the Company, consolidation or merger involving
the Company, or sale or conveyance of all or substantially all of its assets; or 
 (c) any voluntary or involuntary
dissolution, liquidation or winding-up of the Company; 

  
 EXHIBIT
D TO LEASE (Page 3) 

 then in each such event the Company will provide or cause to be provided to the Holder a written notice
thereof. Such notice shall be provided at least ten (10) business days prior to the date specified in such notice on which any such action is to be taken. 
 13. Representations, Warranties and Covenants. This Warrant is issued and delivered by the Company and accepted by the Holder on the basis of the following representations, warranties and covenants
made by the Company: 
 (a) The Company has all necessary authority to issue, execute and deliver this Warrant and to perform
its obligations hereunder. This Warrant has been duly authorized, issued, executed and delivered by the Company and is the valid and binding obligation of the Company, enforceable in accordance with its terms, except as enforceability may be limited
by bankruptcy, insolvency, reorganization or other similar laws of general application affecting the enforcement of the Holder’s rights or by general equity principles or public policy concerns. 

(b) The shares of Stock issuable upon the exercise of this Warrant have been duly authorized and reserved for issuance by the Company
and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable. 
 (c) The issuance,
execution and delivery of this Warrant do not, and the issuance of the shares of Stock upon the exercise of this Warrant in accordance with the terms hereof will not, (i) violate or contravene the Company’s Certificate of Incorporation or
by-laws, or any United States federal or state law, statute, regulation, rule, judgment or order applicable to the Company, (ii) violate, contravene or result in a breach or default under any material contract, agreement or instrument to which
the Company is a party or by which the Company or any of its assets are bound or (iii) require the consent or approval of or the filing of any notice or registration with any person or entity (other than applicable filings under federal and
state securities laws in the United States). 
 (d) The Company shall pay all expenses and taxes imposed by law or by any
governmental agency, including any documentary stamp taxes, attributable to the issuance of this Warrant or to the issuance of any shares of Stock upon any exercise of this Warrant; provided, that nothing in this paragraph shall make the
Company liable for any income taxes payable by the Holder in connection with the issuance of this Warrant or the exercise thereof, or for any transfer taxes associated with any transfer of this Warrant by the Holder. 

14. Amendment and Waiver. The terms of this Warrant may be amended, modified or waived only with the written consent of the party
against which enforcement of the same is sought. 
 15. Representations and Covenants of the Holder. This Warrant has
been issued by the Company in reliance upon the following representations and covenants of the Holder, which by its acceptance hereof the Holder shall be deemed to have confirmed: 

(a) Investment Purpose. The right to acquire Stock hereunder and the Stock issuable upon exercise of the Holder’s rights
contained herein are being or will be acquired solely for investment and not with a view to the sale or distribution of any part thereof, and the Holder has no present intention of selling or engaging in any public distribution of the same except
pursuant to a registration or exemption. 
 (b) Accredited Investor. The Holder is an “accredited investor”
within the meaning of Rule 501 of Regulation D promulgated by the Securities and Exchange Commission, as presently in effect. 

(c) Securities Are Not Registered. The Holder understands (i) that the Stock issuable upon exercise of the Holder’s
rights contained herein is not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant will be exempt from the registration and qualifications requirements
thereof and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 15. 
 The Holder recognizes that the Warrant and the Stock must be held indefinitely unless they are subsequently registered under the 1933 Act or an exemption from such registration is available. The Holder
recognizes that the Company has no obligation to 

  
 EXHIBIT
D TO LEASE (Page 4) 

 
register the Warrant or the Stock of the Company, or to comply with any exemption from such registration. 
 The Holder is aware that neither the Warrant nor the Stock may be sold pursuant to Rule 144 adopted under the 1933 Act unless certain conditions are met, including, among other things, the existence of a
public market for the shares, the availability of certain current public information about the Company, the resale following the required holding period under Rule 144 and the number of shares being sold during any three month period not exceeding
specified limitations. Holder is aware that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company presently has no plans to satisfy these conditions in the foreseeable future. 

(d) Financial Risk. The Holder has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of its investment and has the ability to bear the economic risks of its investment. 
 (e) Disposition
of Warrant and Stock. The Holder further agrees not to make any disposition of all or any part of the Warrant or the Stock, unless and until: 
 (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed
disposition; 
 (ii) There is then in effect a registration statement under the Securities Act covering such proposed
disposition and such disposition is made in accordance with said registration statement; or 
 (iii) The Holder shall have
notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished
the Company with an opinion of counsel, reasonably satisfactory to the Company, for the Holder to the effect that such disposition will not require registration of such Warrant or Exercise Shares under the 1933 Act or any applicable state securities
laws. 
 16. Market Standoff Agreement. Holder shall not sell, dispose of, transfer, make any short sale of, grant any
option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale with respect to, any Stock (or other securities) of the Company held by Holder, for a period of time specified by the Company’s
managing underwriter(s) (not to exceed one hundred eighty (180) days) following the effective date of a registration statement of the Company filed under the 1933 Act; provided, that the foregoing restriction shall not apply unless all
officers and directors of the Company and all holders of five percent (5%) or more of the Company’s Stock are bound by similar restrictions. Holder agrees to execute and deliver such other agreements as may be reasonably requested by the
Company and/or the managing underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to
such Stock (or other securities) until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 16 and shall have the right, power and authority to enforce the provisions hereof
as though they were a party hereto. 
 17. Notices, Transfers, Etc. 

(a) All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery
to the party to be notified, (b) when sent by facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, specifying next business day delivery, with written verification of receipt. Any such notice or written
communication to the Holder shall be sent to the Holder at the address most recently provided by the Holder to the Company. As of the date of this Warrant, the Holder’s address is as follows: 

  
 EXHIBIT
D TO LEASE (Page 5) 

                      
                                         
                                         
     

                      
                                         
                                  

                      
                                         
                                  

                      
                                         
                                  

                      
                                         
                                  

Facsimile:
(      )                           

Any such notice or written communication to the Company shall be sent to the Company as follows: 

Portola Pharmaceuticals, Inc. 
 Attention: Chief Financial Officer 
 270 East Grand Avenue, Suite 22 

South San Francisco, CA 94080 
 Facsimile: (650) 246-7776 
 (b) Subject to compliance with applicable federal
and state securities laws and the restriction on transfer set forth on the first page of this Warrant, this Warrant may be transferred by the Holder with respect to any or all of the shares purchasable hereunder. Upon surrender of this Warrant to
the Company, together with the assignment notice annexed hereto duly executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new warrant of the same denomination to the assignee. Upon surrender of this Warrant
to the Company, together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a portion of the shares of Stock purchasable hereunder, the Company shall issue a new warrant to the assignee, in such denomination as
shall be requested by the Holder hereof, and shall issue to such Holder a new warrant covering the number of shares in respect of which this Warrant shall not have been transferred. 

(c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall issue a new warrant of like tenor and
denomination and deliver the same (i) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant or (ii) in lieu of any Warrant lost, stolen or destroyed, upon receipt of an affidavit of the Holder or
other evidence reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant and an indemnification of loss by the Holder in favor of the Company. 
 18. Transfer to Comply with the Securities Act of 1933. This Warrant may not be exercised and neither this Warrant nor any of the shares of Stock, nor any interest in either, may be offered, sold,
assigned, pledged, hypothecated, encumbered or in any other manner transferred or disposed of, in whole or in part, except in compliance with applicable United States federal and state securities laws and the terms and conditions hereof. Each
Warrant shall bear a legend in substantially the same form as the legend set forth on the first page of this Warrant. Each certificate for shares of Stock issued upon exercise of this Warrant, unless at the time of exercise such shares are acquired
pursuant to a registration statement that has been declared effective under the Securities Act and any applicable blue sky laws, shall bear a legend substantially in the following form: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR
UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE 1933 ACT
AND ANY APPLICABLE STATE SECURITIES LAWS. 
 Any certificate for any shares of Stock issued at any time in exchange or
substitution for any certificate for any shares of Stock bearing such legend (except a new 

  
 EXHIBIT
D TO LEASE (Page 6) 

 
certificate for any shares of Stock issued after the acquisition of such shares pursuant to a registration statement that has been declared effective under the 1933 Act) shall also bear such
legend unless, in the opinion of counsel for the Company, the shares represented thereby need no longer be subject to the restriction contained herein. The provisions of this Section 18 shall be binding upon all subsequent holders of
certificates for shares bearing the above legend and all subsequent holders of this Warrant, if any. 
 19. Rights of
Holder. The Holder shall not, by virtue hereof, be entitled to any rights of a stockholder of the Company, either at law or equity, and the rights of the Holder are limited to those expressed in this Warrant. Nothing contained in this Warrant
shall be construed as conferring upon the Holder hereof the right to vote or to consent or to receive notice as a stockholder of the Company on any matters or with respect to any rights whatsoever as a stockholder of the Company. No dividends or
interest shall be payable or accrued in respect of this Warrant or the interest represented hereby or the shares of Stock purchasable hereunder until, and only to the extent that, this Warrant shall have been exercised in accordance with its terms.

 20. No Impairment. The Company will not, by amendment of its Certificate or through any reclassification, capital
reorganization, consolidation, merger, sale or conveyance of assets, dissolution, liquidation, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance of performance of any of the terms of this Warrant, but
will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder. Notwithstanding the foregoing, nothing in this
Section 20 shall prohibit the Company from amending its Certificate with the requisite consent of the stockholders and the Board of Directors so long as such amendment affects the rights granted to Holder associated with the Stock in the same
manner as the other holders of Common Stock. 
 21. Governing Law. The provisions and terms of this Warrant shall be
governed by and construed in accordance with the internal laws of the State of California. 
 22. Successors and Assigns.
This Warrant shall be binding upon the Company’s successors and assigns and shall inure to the benefit of the Holder’s successors, legal representatives and permitted assigns. 

23. Attorneys’ Fees. In any action between the Company and the Holder arising under this Warrant, the prevailing party shall
be entitled to recover from the non-prevailing party such prevailing party’s reasonable attorneys’ fees and expenses, including (but not limited to) fees and expenses relating to the enforcement of any judgment or to any appellate
proceedings. 
 24. Business Days. If the last or appointed day for the taking of any action required or the expiration
of any rights granted herein shall be a Saturday or Sunday or a legal holiday in California, then such action may be taken or right may be exercised on the next succeeding day which is not a Saturday or Sunday or such a legal holiday. 

[signature page follows] 

  
 EXHIBIT
D TO LEASE (Page 7) 

 IN WITNESS WHEREOF, the Company has duly caused this Warrant to be signed by its duly
authorized officer and to be dated as of the date first written above. 
  

			
	 Company:
  

PORTOLA PHARMACEUTICALS, INC. 
  

	By:	 	  

	Name:	 	  

	Title:	 	  

 

			
	Acknowledged and Agreed
	
	Holder:
	
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 EXHIBIT
D TO LEASE (Page 8) 

 SUBSCRIPTION 

 

			
	 To: Portola Pharmaceuticals, Inc.
	 	Date:                    

 The undersigned hereby subscribes for
                 shares of Stock covered by the attached Warrant, and tenders herewith payment of the Purchase Price in full, together with all applicable transfer
taxes, if any. The certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	  

	Name for Registration of Shares
	
	  

	  

	  

	Mailing Address

 The undersigned confirms and acknowledges that the shares of Stock issuable upon exercise of the
Warrant are being acquired solely for the account of the undersigned and not as a nominee for any other party, and for investment, and that the undersigned will not offer, sell or otherwise dispose of any such shares of Stock except under
circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. 
  

									
	  
	 		 		 		 	  

	(Date)	 		 		 		 	(Signature)
					
		 		 		 		 	  

		 		 		 		 	(Print name)

  
 EXHIBIT
D TO LEASE 

 NET ISSUE ELECTION NOTICE

  

			
	 To: Portola Pharmaceuticals, Inc.
	 	Date:                    

 The undersigned hereby elects under Section 4 of the attached Warrant to exercise on a “net
issue” basis the right to purchase                 shares of Stock pursuant to such Warrant, and shall tender payment of all applicable transfer taxes, if any. The
certificate(s) for the net number of shares issuable upon such net issue election shall be issued in the name of the undersigned or as otherwise indicated below: 

 

	
	  

	Name for Registration of Shares
	
	  

	  

	  

	Mailing Address

 The undersigned confirms and acknowledges that the shares of Stock issuable upon exercise of the
Warrant are being acquired solely for the account of the undersigned and not as a nominee for any other party, and for investment, and that the undersigned will not offer, sell or otherwise dispose of any such shares of Stock except under
circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. 
  

									
	  
	 		 		 		 	  

	(Date)	 		 		 		 	(Signature)
					
		 		 		 		 	  

		 		 		 		 	(Print name)

  
 EXHIBIT
D TO LEASE 

 ASSIGNMENT 

For value received
                                        
hereby sells, assigns and transfers unto
                                         
                           
                                         
                                         
                                         
                                         
                                         
                    
 [Please
print or type the name and address of Assignee] 

                         
                                         
                                         
                                         
                                         
                                         
   the within Warrant, and does hereby irrevocably constitute and appoint                      its attorney to transfer the within
Warrant on the books of the within named Company with full power of substitution in the premises. 
  

									
	DATED:	 	  
	 		 		 	  

					
		 		 		 	By:	 	  

		 		 		 	Name:	 	  

		 		 		 	Title:	 	  

  
 EXHIBIT
D TO LEASE 

			
	

	 

	  	 VIA MESSENGER DELIVERY
  

December 11, 2008
  
 Mardi C. Dier
 Chief Financial Officer
 PORTOLA PHARMACEUTICALS, INC

270 E. Grand Ave, Suite 52
 South San Francisco,
CA 94080
  

RE:  CONFIRMATION OF
PORTOLA’S EXERCISE OF OPTION TO EXTEND LEASE
270 EAST GRAND, SUITE 52 –
SOUTH SAN FRANCISCO
  
 Dear Ms. Dier:
  
 We are
extremely pleased to learn from Chris Jacobs that Portola has elected to extend the lease by and between Britannia Pointe Grand Limited Partnership (“Landlord”) and Portola Pharmaceuticals, Inc. (“Tenant”) dated December 15, 2006
for the premises located at 270 East Grand, Suite 52 in South San Francisco, California (the “Lease”). Please allow this letter to serve as Landlord’s confirmation of Tenant’s timely exercise of the extension right per Section
2.6 of the Lease. The term of the Lease is hereby extended for an additional two (2) years and shall now expire on June 30, 2011. Per Section 3.1(b) of the Lease, the monthly minimum rent during the extended term is $75,126.91 per month during the
first year of the renewal and $77,380.72 during the second year of the renewal. In addition, during the first month of the renewal term only (July 2009), Portola shall not be required to pay the monthly minimum rent of $75,126.91 but shall remain
responsible for all other operating expenses, additional rent and responsibilities per the Lease.
  
 Please kindly confirm your receipt and acknowledgement of the terms of this notice by signing below and returning two (2) original copies to me at your earliest convenience. Please note that I have
included two (2) additional originals for Portola’s files.
  
 On behalf
of HCP, Inc., I would like to thank you for the opportunity to provide continued service to Portola in South San Francisco. I would also like to extend best wishes to you and the entire organization for future success. Please do not hesitate to
contact me if HCP may be of further assistance.
  
 Sincerely,

 
 HCP, INC.

 
 /s/ Jon Bergschneider
 Jon Bergschneider

  
 -1-

					
	 

 
	  	 Mardi C. Dier
 December 11, 2008
 Page 2 of 2

	

 	  	 Cc:   Cooley Godward Kronish LLP c/o Anna B. Pope, Esq. via
facsimile (415-693-2999)
 Britannia Pointe Grand Limited Partnership c/o HCP Estates USA, Inc. — Randy Robner
via email
 Britannia Pointe Grand Limited Partnership c/o HCP, Inc. - Legal Department — Jeana Park via
email
 Folger Levin & Kabn LLP - Don Kelly via email

CBRE Asset Management - Edward Cooke via email
 CBRE — Chris Jacobs via email
  
 ACKNOWLEDGED AND ACCEPTED
  

By:          /s/ Charles J. Hemcy,
M.D.                                    

Name:     Charles J. Hemcy,
M.D.                                         

 Title:       President and Chief Executive
Officer                 

Date:       12/12/08                
                                         
        

		  		  	

  
 -2-

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