Document:

EX-10.8

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ACT OF 1933, AS AMENDED 
  

 Exhibit 10.8 

Patent Sublicense Agreement 

This Patent Sublicense Agreement (“Agreement”) is between CELLSCRIPT, LLC, a Wisconsin limited liability company having a
place of business at 726 Post Road, Madison, WI 53713, USA (“Cellscript”) and ModernaTx, Inc., a Delaware corporation having a place of business at 320 Bent Street, Cambridge, MA 02141, USA (“Company”). This
Agreement is effective as of June 26, 2017 (the “Effective Date”). Each of Company and Cellscript are referred to herein as a “Party” and collectively as the “Parties”. 

BACKGROUND 
 WHEREAS, mRNA
RiboTherapeutics, Inc. (“mRNA RiboTherapeutics”) has an exclusive license from the Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation (“Penn”) for certain intellectual property
comprising patents, patent applications and technology relating to use of modified ribonucleic acid (RNA) technology which was developed by Drs. Drew Weissman and Katalin Kariko of Penn’s Perelman School of Medicine as described in [***], and
certain other intellectual property comprising patents, patent applications and technology relating to the modified RNA technology, inter alia, for reprogramming of mammalian cells to induced pluripotent stem cells, as described in [***], pursuant
to the Second Amended and Restated Patent License Agreement which became effective as of December 20, 2016 (the “Penn License Agreement”), under which Cellscript has a sublicense from mRNA RiboTherapeutics in certain fields of
use pursuant to the Amended and Restated Patent Sublicense Agreement which became effective as of December 20, 2016 (the “Cellscript Sublicense Agreement”), under which Cellscript has the right to further sublicense all or any
part of the rights granted to Cellscript to other parties; and 
 WHEREAS, Company desires a sublicense to the Patents Rights (as defined
below) from Cellscript for in vivo uses in humans and non-human animals and for certain other uses pertaining thereto and Cellscript is willing to grant to Company a sublicense to said intellectual
property for such uses under the terms and conditions herein; 
 NOW, THEREFORE, in consideration of the mutual obligations contained in
this Agreement, and intending to be legally bound, the Parties agree as follows: 
 1     SUBLICENSE 

1.1    Sublicense Grant. Cellscript hereby grants to Company and Company hereby accepts from Cellscript a worldwide,
non-exclusive sublicense under the Patent Rights during the Term to make, have made, import, use, offer for sale, sell and/or have sold Licensed Products according to the terms and conditions herein:
(1) in Field of Use B for all uses in the In Vivo Field of Use, including: (a) all therapeutic and prophylactic uses in humans; (b) all non-therapeutic and
non-prophylactic uses in humans; and (c) all uses, including therapeutic and prophylactic uses (e.g., Veterinary Products), in non-human animals; and (2) in
Field of Use A for internal research and screening uses, including [***], including for the Fields of Use in (1)(a) through (1)(c); ((1) and (2) collectively, the “Sublicensed Fields of Use”), as all said terms are defined in
Sections 1.2 and 6.1 herein (the “Sublicense”). The Sublicense includes the right for Company to grant sublicenses to its affiliates and Third Parties for all or any part of the rights and fields of use granted to Company, under
terms that are consistent with this Agreement. No other rights or licenses are granted by Cellscript to Company under this Agreement; [***]. 

  
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ACT OF 1933, AS AMENDED 
  

 1.2    Related Definitions. 

Whenever the words or terms “comprising,” “containing,” “having,” “include,” includes,”
“including,” “such as,” “for example,” “an example,” “examples,” “e.g.,” “for further clarification” or the like are used in this Agreement, they shall be understood to be
followed by the words “without limitation” or “but without limitation”. The terms “a,” “an,” and “the” and the use of such terms or nouns in definitions in either the singular or the plural are to be
construed to cover both the singular and the plural unless otherwise noted. 
 “Licensed Products” means products that are
made, made for, used, imported, offered for sale or sold by Company or its Affiliates or Third Party sublicensees [***]. For clarity, Licensed Products includes any method, procedure or process, the use of which by Company or its Affiliates or Third
Party sublicensees, [***]. 
 “Exhibit A-1 Patent Rights” means all of Penn’s
patent rights represented by or issuing from: (a) the United States and PCT patents and patent applications listed in Exhibit A-1; (b) any continuation, divisional, reexamination, and re-issue applications of (a); and (c) any extensions and foreign counterparts of (a) or (b). 

“Exhibit A-2 Patent Rights” means all of Penn’s patent rights represented by or
issuing from: (a) the United States and PCT patents and patent applications listed in Exhibit A-2; (b) any continuation, divisional, reexamination, and re-issue
applications of (a); and (c) any extensions and foreign counterparts of (a) or (b). 
 “Patent Rights” means
Exhibit A-1 Patent Rights and/or Exhibit A-2 Patent Rights. 

“Affiliate” means a legal entity that is controlling, controlled by or under common control with Company and that has
executed either this Agreement, a sublicense for at least a portion of the rights granted to Company under this Agreement, or a written joinder agreement agreeing to be bound by all of the terms and conditions of this Agreement. The uncapitalized
term “affiliate” means, with respect to a first legal entity, any other legal entity that is controlling, controlled by or under common control with said first legal entity. For purposes of the definitions of “Affiliate”
and “affiliate” herein, the word “control” means (x) the direct or indirect ownership of fifty percent (50%) or more of the outstanding voting securities of a legal entity, (y) the right to receive fifty percent
(50%) or more of the profits or earnings of a legal entity, or (z) the right to determine the policy decisions of a legal entity. 

“Field of Use A” means and is limited to internal laboratory research or screening [***]. For clarity, Field of Use A
includes [***]. For further clarity, a party that has a sublicense in Field of Use A pertaining to a sublicensed therapeutic or prophylactic or diagnostic or prognostic use in Field of Use B shall have the right to [***]. 

[***] 
 “Field of Use
B” means the field other than Field of Use A and includes but is not limited to therapeutic, prophylactic, diagnostic, prognostic and cosmetic uses in humans and agricultural, animal improvement and veterinary uses in animals. For clarity,
Field of Use B includes any and all fields of use, including the In Vivo Field of Use and Ex Vivo Field of Use, other than for Field of Use A. 

“Fields of Use” means Field of Use A and Field of Use B. 

“Ex Vivo Field of Use” is a subfield of Field of Use A or Field of Use B wherein a product or method that is
covered by Patent Rights is used in cells, tissues or organs that are ex vivo or outside of a living human or animal body or organism, [***]. 

  
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 “In Vivo Field of Use” is a subfield of Field of Use A or
Field of Use B wherein a product or method that is covered by Patent Rights is used in vivo, [***]. 
 “Diagnostic and
Prognostic Field of Use” is a subfield of use within Field of Use B wherein a product or service covered by Patent Rights is used for diagnosis, prognosis or testing of a human or non-human animal or
a sample therefrom in order to detect, identify, determine a cause, evaluate, analyze, understand, predict, rule in, or rule out a medical condition or disease or to predict an effect or response to treatment, and/or to monitor the effect of a
treatment of such medical condition or disease. [***] 
 “Veterinary Product” means a product that is covered by Patent
Rights which is used for the care, treatment, breeding or use of livestock or companion animals. 
 “Third Party” means any
person, corporation, partnership, association, consortium or business, legal or governmental entity other than Penn, Cellscript, Company or any of their respective affiliates. 

[***] 

1.3    Reservation of Rights by Penn. Penn reserves the right to use, and to permit other non-commercial entities to use, the Patent Rights for educational and non-commercial research purposes. 

1.4    U.S. Government Rights. The Parties acknowledge that the United States government retains rights in
intellectual property funded under any grant or similar contract with a Federal agency. The License is expressly subject to all applicable United States government rights, including, but not limited to, any applicable requirement that products,
which result from such intellectual property and are sold in the United States, must be substantially manufactured in the United States. 

1.5    Sublicense Conditions. Company’s right to extend any or all of the rights granted to Company by
Cellscript via a sublicense to affiliates or Third Parties is subject to each of the following conditions:  

1.5.1    Company will have the right to grant further sublicenses to its affiliates and to Third Parties (“sub-sublicensees”) that permit multiple levels of sublicensing, including in Third Party sub-sublicenses that permit further levels of sublicensing (e.g., to “sub-sub-sublicensees”). In each further sub-sublicense agreement to an affiliate or Third Party, Company will require the sub-sublicensee to comply with terms and conditions that are consistent with this Agreement, and in each agreement for further sublicensing (e.g., by a sub-sublicensee of
Company to a sub-sub-sublicensee), the party granting the further sublicense will require the party receiving the further sublicense to comply with terms and conditions
that are consistent with its sub-sublicense agreement from Company. Except when used to clarify the meaning of the different terms in this Section 1.5.1, the term sublicense in this Agreement includes any
permitted sub-sublicense, sub-sub-sublicense, etc. and the term sublicensee includes any permitted sub-sublicensee, sub-sub-sublicensee, etc. 
 1.5.2    Within
[***] days after Company enters into a sublicense agreement, Company will deliver to Cellscript a complete and accurate copy of the entire sublicense agreement written in the English language, provided that Company will have the right to redact the
terms and conditions of such sublicense agreement that are not necessary for Cellscript to confirm compliance with all terms and conditions required under this Sublicense, including Section 1.5 hereof. Cellscript’s receipt of the
sublicense agreement will not constitute a waiver of any right or obligation of Cellscript or of Company under this Agreement. 

  
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 1.5.3    In the event that Company causes or experiences a Trigger Event
(as defined in Section 6.4), to the extent permissible by law, [***]. 
 1.5.4    Company’s execution of a
sublicense agreement will not relieve Company of any of its obligations under this Agreement. Company is primarily liable to Cellscript for any act or omission of a sublicensee that would be a breach of this Agreement if performed or omitted by
Company, and Company will be deemed to be in breach of this Agreement as a result of such act or omission. Upon learning of any such breach of this Agreement due to an act or omission of a sublicensee of Company, Company will [***]. Provided that
Company [***], a breach by said sublicensee shall not be considered a breach by Company that will be considered a cause for termination of this Agreement under Section 6.3. 

1.5.5    A sublicense granted by the Company or a further sublicensee thereof will not be assignable or transferable by
said sublicensee or further sublicensee thereof without the prior written consent of Cellscript, except to an affiliate of the sublicensee of Company or an affiliate of said further sublicensee thereof, or to a Third Party company that: (i) can
demonstrate based on reliable financial information that it has all technical knowledge, capabilities and/or financial resources needed to perform in all respects in the place and stead of said sublicensee or further sublicensee thereof;
(ii) agrees to assume all duties and responsibilities under the sublicense; [***]; and (v) agrees in writing to be bound by all of the terms and conditions of the sublicense and a copy of such written undertaking is promptly provided to
Company, which will provide a copy to Cellscript, which, in turn, will provide a copy to mRNA RiboTherapeutics. 

1.6    No License by Implication. Nothing in this Agreement confers by estoppel implication or otherwise, any
license or rights under any Penn patent other than rights granted under patents included in the Patent Rights and Exhibit D Patents, regardless whether such patents are dominant or subordinate to the Patent Rights and Exhibit D Patents. 

1.7    License to the Exhibit D Patents. Whereas Cellscript has an exclusive license from Penn for certain U.S.
patents and patent applications listed in Exhibit D hereto, including any continuation, divisional, reexamination, and re-issue applications and any patents or extensions of any of the foregoing (collectively
referred to as “Exhibit D Patents” herein), which Exhibit D Patents are not included in Patent Rights herein; and whereas, Company desires a sublicense to Exhibit D Patents in the Sublicensed Fields of Use during the Term and
Cellscript is willing to grant such a sublicense in the Sublicensed Fields of Use according to the terms and conditions herein, now, therefore, Cellscript hereby grants to Company and Company hereby accepts from Cellscript a limited worldwide, non-exclusive sublicense under Exhibit D Patents during the Term to make, have made, import, use, offer for sale, sell and/or have sold Licensed Products which are also covered by Exhibit D Patents, solely in the
Sublicensed Fields of Use, and according to the terms and conditions herein. The sublicense includes the right for Company to grant sublicenses to its affiliates and Third Parties for all or any part of the rights granted to Company in the
Sublicensed Fields of Use, under terms that are consistent with this Agreement. No other rights or licenses pertaining to Exhibit D Patents are granted by Cellscript to Company under this Agreement. [***] 

1.8    Relation of this Agreement to mRNA RiboTherapeutics Sublicense Agreement. Concurrent with the execution of this Agreement,
Company is entering into a separate sublicense agreement with mRNA RiboTherapeutics (the “mRNA RiboTherapeutics Sublicense Agreement”), pursuant to which mRNA RiboTherapeutics is granting Company a sublicense under Patent Rights
with respect to certain fields of use that are different from and are not included within the scope of the Sublicense granted to Company in this Agreement 

  
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 2    DILIGENCE 

2.1    Development Plan and Sublicense Disclosure Report. By [***], Company will deliver to Cellscript: (1) a
copy of an annual development plan, including [***] and a summary of material development efforts for Licensed Products since the last development plan (“Development Plan”); [***] (2) a Sublicense Disclosure Report
(“SDR”), [***]. 
 2.2    Company’s Efforts. Company will use commercially reasonable
efforts to develop, commercialize, market and sell Licensed Products in the Sublicensed Fields of Use in a manner consistent with the Development Plan. In addition to Company’s own efforts to develop, commercialize, market and sell Licensed
Products, the efforts of other parties, including Affiliates, Third Party sublicensees, contractors, Third Parties funded by Company under a research or service agreement, and distributors, will also be deemed as efforts of Company. 

2.3    Diligence Events. Company, whether itself, or through its Affiliates, Third Party sublicensees, contractors,
or Third Parties funded by Company under a research or service agreement, will use commercially reasonable efforts to achieve each of the milestone diligence events by the applicable completion date listed in the table below for the first Licensed
Product for human therapeutic or prophylactic use in Field of Use B. Company will provide Cellscript with written notice within [***] days of first completion of each milestone diligence event for a Licensed Product for human therapeutic or
prophylactic use in Field of Use B by Company or an Affiliate or Third Party sublicensee. 
  

			
	 MILESTONE DILIGENCE EVENT
	  	COMPLETION
DATE
	 1. [***]
	  	[***]
	 2. [***]
	  	[***]
	 3. [***]
	  	[***]
	 4. [***]
	  	[***]
	 5. [***]
	  	[***]

 2.4    Diligence Resources. Until [***], Company will expend financial resources
for the development and commercialization of the Licensed Products in amounts not less than the diligence minimums specified in the table below (“Development Expenditures”) in each [***] period following the Effective Date.
Development Expenditures shall include all research and development expenditures directly relating to Licensed Products, including [***]. If Company’s total expenditures for development and commercialization of Licensed Products in any [***] do
not meet or exceed the applicable diligence minimum, then [***]. 
  

							
	 ANNIVERSARY:
	  	[***]	  	[***]	  	[***]
	 SUBLICENSE DILIGENCE FEE:
	  	[***]	  	[***]	  	[***]

  
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 3    FEES AND ROYALTIES 

3.1    Sublicense Grant Fees. In partial consideration for the Sublicense, Company will pay to Cellscript: [***].

 3.2    Sublicense Maintenance Fees. In partial consideration of the Sublicense, Company will pay to Cellscript
[***] on each [***] occurring during the Term until the date of [***]. For clarity, the next annual sublicense maintenance fee under this Agreement is payable to Cellscript on [***]. 

3.3    Milestone Payments. In partial consideration of the Sublicense, promptly following the Effective Date,
Company will provide Cellscript with [***] and Company will pay to Cellscript within [***] after the Effective Date all [***]. Thereafter, in further partial consideration of the Sublicense, Company will pay to Cellscript the milestone payment
listed in Table A or Table C in this Section 3.3, as applicable, [***], regardless of whether the milestone is achieved by Company, an Affiliate or a Third Party sublicensee. Company will provide Cellscript with written notice within [***] days
after each milestone is achieved by Company or a sublicensee and Company will pay to Cellscript all applicable milestone payments owed therefor within [***] days of the end of the calendar quarter in which the milestone event is achieved. [***] 

[Remainder of Page Intentionally Left Blank] 

  
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	 Section 3.3 Table A

MILESTONES for [***] [***]

	 MILESTONE EVENT
	  	Payment
to Cellscript
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

  

			
	 Section 3.3 Table C

MILESTONES for [***]

	 MILESTONE EVENT
	  	Payment
to Cellscript
	 [***]
	  	[***]
	 [***]
	  	[***]

 3.4    Earned Royalties. In partial consideration of the Sublicense, Company will
pay to Cellscript royalties on Net Sales of Licensed Products in the Sublicensed Fields of Use as stated below. 

3.4.1    Earned Royalties on Licensed Products in Field of Use A. In partial consideration of the Sublicense,
Company will pay to Cellscript a [***] percent ([***]%) royalty on Net Sales of Licensed Products by Company or its Affiliates or Third Party sublicensees for use in [***] during the Quarter. For the avoidance of doubt, if Company or any Affiliate
or Third Party sublicensee [***], then Company will pay to Cellscript [***] on all such Net Sales of Licensed Products for use in Field of Use A by Company or by said sublicensees. For clarity, Company and its Affiliates or Third Party sublicensees
shall not [***]. 
 3.4.2    Earned Royalties on Licensed Products for the In Vivo Field of Use
in Field of Use B. In partial consideration of the Sublicense, Company will pay to Cellscript a [***] percent ([***]%) royalty on Net Sales of Licensed Products in Field of Use B for all uses in the In Vivo Field of Use, including: [***]
during the Quarter. For the avoidance of doubt, if Company or its Affiliates or Third Party sublicensees grant sublicenses to sell Licensed Products for any such uses in Field of Use B, Company will pay to Cellscript a [***] percent [***] royalty on
Net Sales of all such Licensed Products sold by said sublicensees. 

  
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 3.4.3    Royalty Reduction. If Company or an Affiliate or Third
Party sublicensee of Company is obligated to pay [***] (defined below) for a Licensed Product [***], then Company may deduct [***] percent ([***]%) of such [***] from any royalties on Net Sales in [***] due to Cellscript under Section 3.4.2 of
this Agreement, provided that: 
 (a)    On an ongoing basis and prior to reduction of any royalty on
Net Sales for a given calendar quarter, Company first provides [***]; and 
 (b)    In no event shall
royalties on Net Sales due to Cellscript in any reporting period be so reduced to less than [***] percent ([***]%) for Licensed Products for use in the In Vivo Field of Use in Field of Use B. 

“[***]” means any [***] that Company or an Affiliate or a Third Party sublicensee owes to one or more other parties pursuant to one
or more licenses for [***] that are determined to be [***] with respect to the manufacture, use or sale of any Licensed Product. 

3.5    Related Definitions. 

3.5.1    The term “Sale” means any bona fide transaction for which consideration is received or expected
by Company or its Affiliates or Third Party sublicensees for the sale, use, lease, transfer or other disposition of a Licensed Product to a Third Party. A Sale is deemed completed at the time that Company or an Affiliate or Third Party [***]. 

3.5.2    The term “Quarter” means each three-month period beginning on the first day of January, April,
July or October. 
 3.5.3    The term “Net Sales” means the consideration [***]. 

  
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 3.5.4    The term “Qualifying Costs” means: [***]. 

3.6    Minimum Royalties. In partial consideration of the Sublicense, and only to the extent that [***], Company
will pay to Cellscript the amount, if any, by which the applicable minimum royalties listed for the respective Categories in the tables below exceed Company’s or its Affiliates’ or Third Party sublicensees’ actual earned royalties
under Section 3.4 for each Quarter after the first Sale of a Licensed Product in the Sublicensed Fields of Use in each said Category by Company or its Affiliates or Third Party sublicensees. For sake of clarity, the highest minimum royalty owed
by Company to Cellscript under this Agreement would be [***]. 
 Category 1 - Licensed Products in Field of Use A 

 

					
	 QUARTER:
	  	[***]	  	[***]
	 MINIMUM:
	  	[***]	  	[***]

 Category 2 - Licensed Products in Field of Use B 

For [***][***] 
  

					
	 QUARTER:
	  	[***]	  	[***]
	 MINIMUM:
	  	[***]	  	[***]

 Category 3 - Licensed Products in Field of Use B 

That [***] 
 For [***][***] 

 

					
	 QUARTER:
	  	[***]	  	[***]
	 MINIMUM:
	  	[***]	  	[***]

  
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 4    REPORTS AND PAYMENTS 

4.1    Royalty Reports. Within [***] days after the end of each Quarter following the first Sale, Company will
deliver to Cellscript a report, [***], detailing the calculation of all royalties, fees and other payments due to Cellscript for such Quarter. The report will include, at a minimum, the following information for the Quarter, each listed by product,
by country: [***]. 
 4.2    Payments. Company will pay all royalties, fees and other payments due to Cellscript
under Sections 3.3, 3.4 and 3.6 within [***] days after the end of the Quarter in which the royalties, fees or other payments accrued. Cellscript agrees that it will pay all such amounts to mRNA RiboTherapeutics according to and within the time
periods required by the Cellscript Sublicense Agreement, and mRNA RiboTherapeutics will pay to Penn all royalties, fees and other payments due to Penn according to and within the time periods required by the Penn License Agreement. For clarity,
(a) only one royalty will be due with respect to the Sale of the same unit of Licensed Product and (b) royalties are payable hereunder only on Sales of Licensed Product for use in the Sublicensed Fields of Use, it being understood that
Company and its sublicensees have no right to sell Licensed Products in any Fields of Use except Sublicensed Fields of Use. 

4.3    Records. Company will maintain, and will cause its Affiliates and Third Party sublicensees to maintain,
complete and accurate books, records and related background information to verify Sales, Net Sales, and all of the royalties, fees, and other payments due or paid under this Agreement, as well as the various computations reported under
Section 4.1. The records for each Quarter will be maintained for at least [***] years after submission of the applicable report required for Section 4.1. 

4.4    Audit Rights. Upon [***], Company and its Affiliates and Third Party sublicensees will provide Penn and its
accountants (or Cellscript and its accountants in the event that Cellscript is Penn’s designated auditor) with access to [***] to conduct a review or audit of Sales, Net Sales, and all of the royalties, fees, and other payments payable under
this Agreement. Access will be made available: (a) during normal business hours; (b) in a manner reasonably designed to facilitate such accountant’s review or audit without unreasonable disruption to Company’s business; and
(c) no more than [***] during the Term (as defined below) and for a period of [***] thereafter. Company will promptly pay to Cellscript the amount of any underpayment determined by the review or audit, plus accrued interest. If the review or
audit determines that Company has underpaid any payment by [***] percent ([***]%) or more, then Company will also promptly pay the costs and expenses of the auditing party’s accountants in connection with the review or
audit.    In addition, once annual Sales of Licensed Products exceed [***]. 

4.5    Currency. All dollar amounts referred to in this Agreement are expressed in United States dollars. All
payments will be made in United States dollars. If Company receives payment from a sublicensee in a currency other than United States dollars for which a royalty or fee is owed under this Agreement, then (a) the payment will be converted into
United States dollars at the conversion rate for the foreign currency as published in the eastern edition of the Wall Street Journal as of the last business day of the Quarter in which the payment was received by Company, and (b) the conversion
computation will be documented by Company in the applicable report delivered to Cellscript under Section 4.1. 

  
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 4.6    Place of Payment. All payments by Company to CELLSCRIPT,
LLC and will be made to the following addresses: 
  

			
	 By ACH/Wire:
	  	 By Check (direct mail):

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	
	 [***]
	  	 [***]

 4.7    Interest. All amounts that are not paid by Company when due will accrue
interest from the date due until paid at a rate equal to [***] percent ([***]%) per month (or the maximum allowed by law, if less). 

5    CONFIDENTIALITY AND USE OF NAMES 

5.1    Confidentiality. Each Party agrees that it will not, under this Agreement, provide to the other Party
or its affiliates any Confidential Information of such Party unless (i) such Party has first identified the general nature of such Confidential Information to such other Party in writing and such other Party has affirmatively agreed in writing
to receive such Confidential Information, or (ii) such other Party has specifically requested such Confidential Information in writing. For clarity, any such consent or request issued by email or other written electronic means shall satisfy the
foregoing “writing” requirements. Any Confidential Information disclosed by a Party to the other Party other than in accordance with this Section 5.1 will be deemed not to be Confidential Information of such Party. Notwithstanding the
foregoing, Cellscript is obligated to accept and treat as confidential any Confidential Information disclosed by Company in the reports or notices required by Sections 2.1, 2.3, 3.3, 3.4.3(a), 4.1, 4.4, 4.6 and 6.6, which information Company
agrees Cellscript may disclose to mRNA RiboTherapeutics or Penn without the prior written consent of Company. 

5.2    Confidential Information. Each Party (“Disclosing Party”) may disclose to the other Party
(“Receiving Party”), and Receiving Party may acquire during the course and conduct of activities under the Agreement, certain proprietary or confidential information of Disclosing Party in connection with this Agreement. The term
“Confidential Information” shall mean all ideas and information of any kind, whether in written, oral, graphical, machine-readable or other form, whether or not marked as confidential or proprietary, which are transferred, disclosed
or made available by Disclosing Party in accordance with Section 5.1. 

  
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 5.3    Restrictions. During the Term and for [***] years
thereafter, Receiving Party shall keep all Disclosing Party’s Confidential Information in confidence with the same degree of care with which Receiving Party holds its own confidential information. Receiving Party shall not use Disclosing
Party’s Confidential Information except in connection with the performance of its obligations and exercise of its rights under this Agreement. Receiving Party has the right to disclose Disclosing Party’s Confidential Information without
Disclosing Party’s prior written consent, to the extent and only to the extent reasonably necessary, to Receiving Party’s affiliates and their employees, subcontractors, consultants or agents who have a need to know such Confidential
Information in order to perform Receiving Party’s obligations or exercise Receiving Party’s rights under this Agreement, provided said affiliates and their employees, subcontractors, consultants or agents are required to
comply with a written confidentiality agreement having restrictions on use and disclosure of Disclosing Party’s Confidential Information which are no less stringent than those in this Section 5.3 (other than with respect to the term of the
confidentiality obligations, which shall be at least [***] years from the date of disclosure). Receiving Party assumes responsibility for compliance with such restrictions by its affiliates and their employees, subcontractors, consultants or agents.

 5.4    Exceptions. Receiving Party’s obligation of nondisclosure and the limitations upon the right to
use the Disclosing Party’s Confidential Information shall not apply to the extent that Receiving Party can demonstrate, as evidenced by contemporaneous written records, that the Disclosing Party’s information: (i) was known to
Receiving Party or any of its affiliates prior to the time of disclosure; (ii) is or becomes public knowledge through no fault or omission of Receiving Party or any of its affiliates; (iii) is obtained by Receiving Party or any of its
affiliates from a Third Party under no obligation of confidentiality to Disclosing Party; (iv) has been independently developed by employees, subcontractors, consultants or agents of Receiving Party or any of its affiliates without the aid,
application or use of Disclosing Party’s Confidential Information or (v) is not Confidential Information under Section 5.1. 

5.5    Permitted Disclosures. Receiving Party may disclose Disclosing Party’s Confidential Information to the
extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 5.5.1    in order
to comply with applicable law (including any securities law or regulation or the rules of a securities exchange) or with a legal or administrative proceeding; 

5.5.2    in connection with prosecuting or defending litigation, regulatory approvals and other regulatory filings and
communications, and filing, prosecuting and enforcing patents in connection with Receiving Party’s rights and obligations pursuant to this Agreement; and 

5.5.3    in connection with exercising its rights hereunder, to its affiliates; in the case of Company as the Receiving
Party, to potential and future collaborators and sublicensees; in the case of Company or Cellscript as the Receiving Party, to permitted acquirers or assignees; and investment bankers, investors and lenders, except that Cellscript will obtain the
prior written consent of Company before disclosing any information disclosed to Cellscript pursuant to Sections 2.1, 2.3, 3.3, 3.4.3(a), 4.1, 4.4, 4.6 and 6.6; 

provided that (1) with respect to Sections 5.5.1 or 5.5.2, where reasonably possible, Receiving Party shall notify Disclosing
Party of Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as to allow Disclosing Party adequate time to take whatever action it may deem appropriate to protect the confidentiality
of the information to be disclosed, and (2) with respect to Section 5.5.3, each of those named people 

  
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and entities are required to comply with the restrictions on use and disclosure in Section 5.3 (other than investment bankers, investors and lenders, which must be bound prior to disclosure
by commercially reasonable obligations of confidentiality). 
 5.6    Terms of this Agreement. The Parties agree
that the terms of this Agreement shall be treated as Confidential Information of both Parties, and thus may be disclosed only as permitted by Section 5.5. Each Party agrees not to issue any press release or public statement disclosing
information relating to this Agreement or the terms hereof without the prior written consent of the other Party not to be unreasonably withheld. 

5.7    Use of Penn’s, Cellscript’s or Company’s Name. Company and its Affiliates, Third Party
sublicensees, employees, and agents are not granted any rights hereunder to use the name, logo, seal, trademark, or service mark (including any adaptation of them) of Penn or any Penn school, or their respective organizations, employees, students or
representatives, without the prior written consent of Penn. Except to the extent permitted pursuant to this Article 5, neither Party shall have any right, express or implied, to use in any manner the name or other designation of the other Party or
any other trade name or trademark of the other Party for any Purpose, except as may be required by applicable law or regulation. 

6    TERM AND TERMINATION 

6.1    Term. This Agreement will commence on the Effective Date and terminate upon the expiration or abandonment of
the last patent to expire or become abandoned of the Patent Rights (the “Term”). 
 6.2    Early
Termination by Company. Company may terminate this Agreement at any time effective upon completion of each of the following conditions: (a) providing at least sixty (60) days prior written notice to Cellscript of such intention to terminate; (b)
ceasing to make, have made, use, import, offer for sale and sell all Licensed Products under the Sublicense; [***]. For clarity, Company may individually terminate either the Sublicense to Exhibit A-1 Patent
Rights or the Sublicense to Exhibit A-2 Patent Rights provided that each of the conditions stipulated in Section 6.2 is met with respect to the Patent Rights terminated from the Sublicense. [***] [***]

 6.3    Early Termination by Cellscript. Cellscript may, to the extent permissible by law, terminate this
Agreement if: (a) Company is more than [***] days late in paying to Cellscript any amounts owed under this Agreement and does not pay Cellscript in full, including accrued interest, within [***] days after receiving written notice of the breach
from Cellscript (a “Payment Default”); or (b) other than a Payment Default, Company materially breaches this Agreement and Company does not cure the breach within [***] days after receiving written notice of the breach from
Cellscript; or (c) Company causes or experiences a Trigger Event, [***]. It is understood that, with respect to both of (a) and (b), Company is also responsible for its Affiliates and Third Parties sublicensees. 

6.4    Trigger Event. The term “Trigger Event” means any of the following: (a) Company
(i) becomes insolvent, bankrupt or generally fails to pay its debts as such debts become due, (ii) is adjudicated insolvent or bankrupt, (iii) admits in writing its inability to pay its debts, (iv) suffers the appointment of a
custodian, receiver or trustee for its assets and, if appointed without its consent, not discharged within [***] days, (v) makes an assignment of its assets for the benefit of creditors, or (vi) suffers proceedings being instituted against
it under any law related to bankruptcy, insolvency, dissolution, liquidation or the reorganization, readjustment or release of multiple debtors and, if contested by it, not dismissed or stayed within [***] days; (b) the institution or
commencement by Company of any proceeding under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of multiple 

  
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debtors; (c) the entering of any order for relief relating to any of the proceedings described in Section 6.4(a) or (b) above; (d) the calling by Company of a meeting of multiple
creditors with a view to arranging a composition of adjustment of its debts; (e) the act or failure to act by Company that results in its consent to, approval of, or acquiescence in any of the proceedings described in Section 6.4(a) - (d)
above; or (f) [***]. 
 6.5    Effect of Termination. 

6.5.1    Effect of Termination Except under Section 6.2. Upon the termination of this Agreement
prior to expiration of the Term for any reason except pursuant to Section 6.2: (a) the Sublicense to the Patent Rights and Exhibit D Patents will terminate; (b) [***] (c) Company will pay to Cellscript all amounts, including accrued interest,
owed to Cellscript under this Agreement through the date of termination, including royalties on Licensed Products invoiced or shipped through the date of termination and any sell off period permitted by Section 6.6, whether or not payment is
received prior to termination or expiration of the sell off period permitted by Section 6.6; (d) Company will, at Cellscript’s request, return to Cellscript all confidential information of Cellscript (if any) related to exploitation of
Patent Rights and Exhibit D Patents and [***]; (e) in the case of termination under Section 6.3, all duties of Cellscript and all rights (but not duties) of Company under this Agreement immediately terminate without further action required by
either Cellscript or Company; and (f) all outstanding Third Party sublicenses, to the extent each is not in default, will be assigned by Company to Cellscript, [***], and each Third Party sublicense agreement will remain in full force and
effect [***], but the duties and obligations of Cellscript under the [***] sublicense agreements will not be greater than the duties of Cellscript under this Agreement and the rights of Cellscript under the [***] sublicenses will not be less than
those of Cellscript under this Agreement, including [***]. Notwithstanding the foregoing, in the event the Cellscript Sublicense Agreement is terminated and said termination of the Cellscript Sublicense Agreement is not due to any act or omission of
Company or its Affiliates or Third Party sublicensees and, to the extent the Company is not in default under the Sublicense, Cellscript will assign this Agreement to mRNA RiboTherapeutics, such assignment will be accepted by mRNA RiboTherapeutics
and this Agreement and each of Company’s further sublicense agreements, to the extent each said further sublicense is not in default, will remain in full force and effect (including with respect to the sublicensed Exhibit A-1 Patent Rights and Exhibit A-2 Patent Rights and Exhibit D Patents), with mRNA RiboTherapeutics as the sublicensor to Company instead of Cellscript, but the duties and
obligations of mRNA RiboTherapeutics under the assigned Sublicense and the Company’s further sublicenses will not be greater than the duties of Cellscript under this Agreement, and the rights of mRNA RiboTherapeutics under the assigned
Sublicense and Company’s further sublicenses will not be less than the rights of Cellscript under this Agreement, [***]. 

6.5.2    Effect of Termination under Section 6.2. Upon the termination of this Agreement under
Section 6.2: (a) the Sublicense to Company and all further sublicenses to Affiliates and Third Parties terminate (except to the extent that said Third Party sublicenses [***] (b) [***]; (c) Company will pay to Cellscript all amounts, including
accrued interest, owed to Cellscript under this Agreement through the date of termination, including royalties on Licensed Products invoiced or shipped through the date of termination and any sell off period permitted by Section 6.6, whether or
not payment is received prior to termination or expiration of the sell off period permitted by Section 6.6, and (d) Company will, at Cellscript’s request, return to Cellscript all confidential information of Cellscript; and
(e) all outstanding sublicenses of Company to Third Parties and all outstanding sublicenses of Company’s Affiliates to Third Parties, to the extent each is not in default, will be assigned [***] to Cellscript [***], and each such assigned

  
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sublicense agreement will remain in full force and effect [***], but the duties and obligations of Cellscript under the [***] sublicense agreements will not be greater than the duties and
obligations of Company under this Agreement, and the rights of Cellscript under the [***] sublicense agreements will not be less than the rights of Company under this Agreement, including [***], and Cellscript may, [***]. 

6.6    Inventory & Sell Off. Subject to the remainder of this Section 6.6, upon the
termination of this Agreement for any reason, Company will: (1) cause physical inventories to be taken [***] of: (a) all completed Licensed Products on hand under the control of Company and its Affiliates and Third Party sublicensees and
(b) such Licensed Products as are in the process of manufacture and any component parts on the date of termination of this Agreement; (2) deliver promptly to Cellscript a copy of said written inventory, [***]; (3) promptly remove, efface
or destroy or require or cause to be removed, effaced or destroyed all references to Penn and Cellscript from any advertising, labels, web sites or other materials used in the promotion of the business of Company or its Affiliates or Third Party
sublicensees; and (4) [***]. Subject to this Section 6.6, Company and its Affiliates and Third Party sublicensees may sell off its inventory of Licensed Products existing on the date of termination for a period of [***] months and pay
Cellscript royalties on Sales of such inventory within [***] days following the expiration of such [***] month period. Notwithstanding the foregoing: (i) Company’s obligations under this Section 6.6 will not apply to the Sublicense or
to Company’s sublicense agreements if the Sublicense is assigned to mRNA RiboTherapeutics pursuant to Section 6.5.1; and (ii) the obligations of each of Company’s sublicensees pursuant to this Section 6.6 will not apply to
Company’s or its Affiliates’ or Third Party sublicensees’ sublicense agreements that are assigned to Cellscript pursuant to Sections 6.5.1(f) or 6.5.2(e); and, (iii) Company’s and its Affiliates’ and Third Party
sublicensees’ obligations under this Section 6.6 will not apply with respect to any Licensed Product that is for use in a Field of Use for which Company (and its Affiliates or Third Party sublicensees) has a different sublicense agreement
[***]. 
 6.7    Survival. Company’s obligation to pay all amounts, including accrued interest, owed to
Cellscript under this Agreement will survive the termination of this Agreement for any reason. [***] will survive the termination of this Agreement in accordance with their respective terms. The Parties acknowledge and agree that the Sublicense is,
for the purposes of section 365(n) of the U.S. Bankruptcy Code, a license to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties intend that all payments under Article 3 of this Agreement
constitute “royalties” within the meaning of section 365(n) of the U.S. Bankruptcy Code. 
 7    PATENT PROSECUTION AND
MAINTENANCE 
 7.1    Patent Control for Patent Rights. [***] control the preparation, prosecution and
maintenance of the Patent Rights and the selection of patent counsel, subject to the remainder of this Section 7.1. For purposes of this Section 7.1, the word “maintenance” includes any interference negotiations, claims, or
proceedings, in any forum, [***]), a Third Party, or the United States Patent and Trademark Office or any foreign equivalent pertaining to Patent Rights, and any requests [***] that the United States Patent and Trademark Office or any foreign
equivalent reexamine or reissue any patent in the Patent Rights. Notwithstanding the foregoing, [***] will provide [***] and its counsel with reasonable opportunities to consult with [***] regarding prosecution and maintenance of Patent Rights. 

7.2    Patent Control for Exhibit D Patents. [***] control the preparation, prosecution and maintenance of the
Exhibit D Patents and the selection of patent counsel, subject to the 

  
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remainder of this Section 7.2. For purposes of this Section 7.2, the word “maintenance” includes any interference negotiations, claims, or proceedings, in any forum, [***], a
Third Party, or the United States Patent and Trademark Office pertaining to Exhibit D Patents, and any requests [***] that the United States Patent and Trademark Office reexamine or reissue any patent in the Exhibit D Patents. Notwithstanding the
foregoing, [***] will provide [***] and its counsel with reasonable opportunities to consult with [***] regarding prosecution and maintenance of Exhibit D Patents. 

8    INFRINGEMENT 

8.1    Control. [***] 

8.2    Cooperation. In any litigation under this Article 8, each Party, at the reasonable request and sole
expense of the other Party, will provide reasonable cooperation to such other Party. This Article 8 will not be construed to require either Party to undertake any activities, including legal discovery, at the request of any Third Party, except
as may be required by lawful process of a court of competent jurisdiction. 
 9    REPRESENTATIONS, WARRANTIES, COVENANTS AND
DISCLAIMER OF WARRANTIES 
 9.1    Covenants of Cellscript. Cellscript covenants to Company that, during the
Term: 
 9.1.1    Cellscript will take all reasonable actions necessary to maintain Cellscript’s rights under the
Cellscript Sublicense Agreement and to the extent within its power, will ensure that the rights granted to Company herein are maintained. 

9.1.2    In the event of termination of the Cellscript Sublicense Agreement, this Agreement will be assigned to mRNA
RiboTherapeutics without any further action by the Parties, and the sublicenses granted hereunder, to the extent they are not in breach or default, will remain in full force and effect with respect to the sublicensed Exhibit A-1 Patent Rights, Exhibit A-2 Patent Rights and Exhibit D Patents. 

9.1.3    Cellscript will use diligent efforts not to breach the Cellscript Sublicense Agreement, and to the extent within
its legal power, will ensure that its sublicensed affiliates do not breach or cause a breach of any sublicense under the Cellscript Sublicense Agreement that would result in mRNA RiboTherapeutics having the right to terminate the Cellscript
Sublicense Agreement or Penn having the right to terminate the Penn License Agreement, and, in the event of any such breach, Cellscript will use diligent efforts to expeditiously cure (or cause to be cured) any such breach. 

9.1.4    Upon Cellscript learning of any breach of a sublicense agreement by any sublicensee of Cellscript or any of its
further sublicensees that would result in mRNA RiboTherapeutics having the right to terminate the Cellscript Sublicense Agreement or Penn having the right to terminate the Penn License Agreement, Cellscript will expeditiously take appropriate
actions to stop such act or omission, up to and including termination of the applicable sublicense, as stated in Section 1.5.4 of the Cellscript Sublicense Agreement. 

9.1.5    Cellscript will make all payments due under the Cellscript Sublicense Agreement and will make all required
disclosures to mRNA RiboTherapeutics in connection therewith, in each case in a timely manner in accordance with the terms thereof. 

  
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 9.1.6    Promptly following Cellscript’s or any of its
affiliates’ receipt of any material written notice or correspondence pertaining to the Sublicense that would reasonably be expected to adversely affect Company’s rights under this Agreement, Cellscript will, to the extent permissible,
furnish a copy of such notice or correspondence to Company, provided that Cellscript may redact portions of any such notice or correspondence that do not relate to or impact Company’s rights hereunder. 

9.1.7    Cellscript will promptly notify Company if Cellscript receives a notice from mRNA RiboTherapeutics or Penn of
intent to terminate the Penn License Agreement. 
 9.1.8    Cellscript agrees that Cellscript and its affiliates will
not sue, bring an action against, or otherwise assert any claim against Company or its Affiliates or Third Party sublicensees or their successors in ownership (to which this Agreement or a sublicense under this Agreement is assigned according to
terms and conditions for assignment pursuant to Section 15.5 or Section 1.5.5 herein) for infringement of or misappropriation of any Patent Rights (as defined in Section 1.2) or Exhibit D Patents (as defined in Section 1.7) that
are used by Company or its Affiliates or Third Party sublicensees or their successors in ownership in the In Vivo Field of Use (as defined in Section 1.2) within Sublicensed Fields of Use. For clarity, the foregoing covenant [***]. For
further clarity, [***]. This covenant shall terminate with the termination of this Agreement unless the termination is: [***] (“Contested Termination”). In the event of a Contested Termination, this covenant shall continue
to run during the [***] days, and if a lawsuit is initiated, until said state or federal court enters a final decision from which no appeal has been or can be taken. 

9.1.9    Cellscript will not amend the Cellscript Sublicense Agreement in any manner that would negatively affect the
rights and/or obligations of the Company under this Agreement. Following execution of any amendment to the Cellscript Sublicense Agreement that pertains to or impacts Company or its rights hereunder, Cellscript agrees that it will provide a copy of
same to Company, except that Cellscript may redact portions of any such amendment that do not relate to or impact Company or its rights hereunder in any way. 

9.1.10    To the extent within its rights and legal power, Cellscript will not exercise any right to terminate the
Cellscript Sublicense Agreement in whole or in part. 
 9.1.11    [***] 

9.2    Covenants of mRNA RiboTherapeutics. mRNA RiboTherapeutics covenants to Company as follows: 

9.2.1    mRNA RiboTherapeutics will not terminate the Cellscript Sublicense Agreement without good and reasonable cause.

 9.2.2    In the event of termination of the Cellscript Sublicense Agreement, provided that Company did not cause said
termination of the Cellscript Sublicense Agreement and is not in breach or default under this Agreement, this Agreement will be assigned to mRNA RiboTherapeutics without any further action by Cellscript, mRNA RiboTherapeutics will accept such
assignment of this Agreement and this Agreement, including all of Company’s outstanding Third Party sublicenses thereunder, will remain in full force and effect with respect to the sublicensed Exhibit A-1
Patent Rights, Exhibit A-2 Patent Rights, with mRNA RiboTherapeutics as the sublicensor instead of Cellscript, but the duties and obligations of mRNA RiboTherapeutics under the assigned Agreement will not be
greater than the duties of Cellscript under this Agreement and the rights (including all financial consideration and other rights) of mRNA RiboTherapeutics under the assigned Agreement will not be less than those of Cellscript

  
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under this Agreement, and mRNA RiboTherapeutics may, at its sole discretion, amend this Agreement to contain terms and conditions found in the Cellscript Sublicense Agreement. 

9.2.3    Upon mRNA RiboTherapeutics learning of any breach of a sublicense agreement by any sublicensee or any further
sublicensees thereof in any manner that would result in mRNA RiboTherapeutics having the right to terminate the Cellscript Sublicense Agreement or Penn having the right to terminate the Penn License Agreement, mRNA RiboTherapeutics will
expeditiously take appropriate actions to stop such act or omission, up to and including termination of the applicable sublicense. 

9.2.4    mRNA RiboTherapeutics will make all payments due under the Penn License Agreement and will make all required
disclosures to Penn in connection therewith, in each case in a timely manner in accordance with the terms thereof. 

9.2.5    Promptly following mRNA RiboTherapeutics’ or any of its affiliates’ receipt of any material written
notice or correspondence pertaining to the Company’ sublicense agreement from Cellscript that would reasonably be expected to adversely affect Company’s rights thereunder, mRNA RiboTherapeutics will, to the extent permissible, furnish a
copy of such notice or correspondence to Cellscript and to Company, provided that mRNA RiboTherapeutics, as applicable, may redact portions of any such notice or correspondence that do not relate to or impact Company’s rights. 

9.2.6    mRNA RiboTherapeutics will promptly notify Cellscript and Company if it receives a notice from Penn of intent to
terminate the Penn License Agreement. 
 9.2.7    mRNA RiboTherapeutics agrees that mRNA RiboTherapeutics and its
affiliates will not sue, bring an action against, or otherwise assert any claim against Company or its Affiliates or Third Party sublicensees or their successors in ownership (to which this Agreement or a sublicense under this Agreement is assigned
according to terms and conditions for assignment pursuant to Section 15.5 or Section 1.5.5 herein) for infringement of or misappropriation of any Patent Rights (as defined in Section 1.2) that are used by Company or its Affiliates or
Third Party sublicensees or their successors in ownership in the In Vivo Field of Use [***]. This covenant shall terminate with the termination of this Agreement unless the termination is a Contested Termination. In the event of a
Contested Termination, this covenant shall continue to run during the [***] days, and if a lawsuit is initiated, until said state or federal court enters a final decision from which no appeal has been or can be taken. 

9.2.8    mRNA RiboTherapeutics will not amend the Cellscript Sublicense Agreement in any manner that would negatively
affect the rights and/or obligations of the Company under this Agreement. 
 9.2.9    [***] 

9.3    Covenants of Company. Company covenants to Cellscript and to mRNA RiboTherapeutics that, during the Term:

 9.3.1    Upon Company learning of any breach of a sublicense agreement by any of its Affiliates or Third Party
sublicensees in any manner that would result in mRNA RiboTherapeutics having the right to terminate the Cellscript Sublicense Agreement or Penn having the right to terminate the Penn License Agreement, Company will [***]. 

9.3.2    Company will not breach this Agreement, and to the extent within its legal power, will ensure that its Affiliates
do not breach or cause breach of any sublicense under this Agreement, in any manner that would [***]. 

  
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 9.3.3    Company will pay all payments due under this Agreement pursuant
to Article 3 and in accordance with the terms in Articles 3 and Section 4.2 and will provide all information, reports and notices required in accordance with Sections 2.1, 2.3, 3.3, 3.4.3(a), 4.1, 4.4 and 6.6 and in the form of the sample
report attached as Exhibit C, in each case in accordance with the time periods set forth therein. 
 9.3.4    Promptly
following Company’s or any of its Affiliates’ receipt of any material written notice or correspondence pertaining to the Sublicense that would reasonably be expected to adversely affect Cellscript’s rights or obligations under this
Agreement, Company will, to the extent permissible, furnish a copy of such notice or correspondence to Cellscript, provided that Company may redact portions of any such notice or correspondence that do not relate to or impact Cellscript ’s
rights hereunder. 
 9.3.5    Company will promptly notify Cellscript if Company receives [***]. 

9.3.6    [***] 

9.4    Representations and Warranties of Cellscript. As of the Effective Date, Cellscript, on behalf of itself and
its affiliates, hereby represents and warrants to Company that: 
 9.4.1    (a) either Cellscript or mRNA
RiboTherapeutics has provided Company with a copy of a true and correct copy of the Cellscript Sublicense Agreement (including all exhibits and amendments thereto), which has been redacted only with respect to the numerical values of the
compensation payable thereunder and certain terms and conditions that do not pertain to and that are immaterial to Company’s rights in the Sublicensed Fields of Use, (b) prior to the Effective Date, mRNA RiboTherapeutics has provided
Company with an opportunity to view a copy of the Cellscript Sublicense Agreement (including all exhibits and amendments thereto) which is true, correct and complete except for being redacted only with respect to the amounts paid or payable by
Cellscript to mRNA RiboTherapeutics for said sublicense and the milestones and other fees and royalties payable by Cellscript for the Ex Vivo Field of Use; (c) either Cellscript or mRNA RiboTherapeutics has provided Company with a true
and correct copy of the Penn License Agreement (including all exhibits and amendments thereto) which has been redacted only with respect to the numerical values of the compensation payable thereunder and certain terms and conditions that do not
pertain to and that are immaterial to Company’s rights in the Sublicensed Fields of Use or the fields of use sublicensed to Company under the mRNA RiboTherapeutics Sublicense Agreement, (d) prior to the Effective Date, mRNA
RiboTherapeutics has provided Company with an opportunity to view a true and correct and copy of the Penn License Agreement (including all exhibits and amendments thereto) which has been redacted only with respect to [***], (d) except for [***],
there is no other outstanding license, sublicense agreement, written or verbal, for Patent Rights in Field of Use B between Cellscript or mRNA RiboTherapeutics (or any affiliate thereof) on the one hand and Penn on the other hand, or between
Cellscript (or any affiliate thereof) and mRNA RiboTherapeutics (or any affiliate thereof). 
 9.4.2    (a) Neither
Cellscript nor any affiliate thereof has [***]; (b) except for (i) this Agreement to Company, (ii) the Cellscript Sublicense Agreement; (iii) the mRNA RiboTherapeutics Sublicense Agreement to Company, [***]; and (c) Cellscript
has not granted any liens or encumbrances in or to its rights in Patent Rights or the Cellscript Sublicense Agreement. 

  
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 9.4.3    Cellscript has not breached or defaulted under any provision of
the Cellscript Sublicense Agreement in any material respect or received any written notice from mRNA RiboTherapeutics of any claims for indemnification pursuant thereto. 

9.4.4    To the knowledge of Cellscript, (a) there are no facts that would preclude Penn from having clear title to
the Patent Rights, (b) there are no pending or threatened litigations, interferences, reexaminations, oppositions or like procedures involving any such Patent Rights and (c) all of the issued patents within the Patent Rights are valid and
enforceable, are in full force and effect and have not lapsed, expired or otherwise terminated. 
 9.4.5    Cellscript
believes the terms and conditions of this Agreement are [***] consistent with the terms and conditions of the Cellscript Sublicense and the Penn License Agreement; 

9.4.6    Cellscript has not received any written notice of any claim by any person or entity challenging the sublicense
rights of Cellscript or the validity or enforceability of the Patent Rights. 
 9.4.7    [***] 

9.4.8    Cellscript believes that the representations and warranties of Cellscript in this Agreement, do not, taken as a
whole, (i) contain any untrue statement of a material fact; or (ii) omit to state any material fact necessary to make the statements or facts contained therein, in light of the circumstances under which they were made, not misleading.
Cellscript has not knowingly withheld any information with respect to the Cellscript Sublicense Agreement, the Penn License Agreement or the Patent Rights that would reasonably be expected to be material to Company’s decision to enter into this
Agreement. 
 9.5    Representations and Warranties of mRNA RiboTherapeutics. As of the Effective Date, mRNA
RiboTherapeutics, on behalf of itself and its affiliates, hereby represents and warrants to Company that: 

9.5.1    (a) either Cellscript or mRNA RiboTherapeutics has provided Company with a copy of a true and correct copy of the
Cellscript Sublicense Agreement (including all exhibits and amendments thereto), which has been redacted with respect to the numerical values of the compensation payable thereunder and certain terms and conditions that do not pertain to and that are
immaterial to Company’s rights in the Sublicensed Fields of Use, (b) prior to the Effective Date, either mRNA RiboTherapeutics or Cellscript has provided Company with an opportunity to view a copy of the Cellscript Sublicense Agreement
(including all exhibits and amendments thereto) which is true, correct and complete except for being redacted only with respect to the amounts paid or payable by Cellscript to mRNA RiboTherapeutics for said sublicense and the milestones and other
fees and royalties payable by Cellscript for the Ex Vivo Field of Use; (c) either Cellscript or mRNA RiboTherapeutics has provided Company with a true, correct and complete copy of the Penn License Agreement (including all exhibits and
amendments thereto), which has been redacted with respect to the numerical values of the compensation payable thereunder and certain terms and conditions that do not pertain to and that are immaterial to Company’s rights in the Sublicensed
Fields of Use or the fields of use sublicensed to Company under the mRNA RiboTherapeutics Sublicense Agreement, (d) prior to the Effective Date, mRNA RiboTherapeutics has provided Company with an opportunity to view a true and correct copy of
the Penn License Agreement (including all exhibits and amendments thereto) which has been redacted only with respect to [***], there are no other license, sublicense or other agreements, written or verbal, relating to the Patent Rights between
Cellscript or mRNA 

  
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RiboTherapeutics (or any affiliate thereof) on the one hand and Penn on the other hand, or between Cellscript (or any affiliate thereof) and mRNA RiboTherapeutics (or any affiliate thereof). 

9.5.2    (a) Neither mRNA RiboTherapeutics nor any affiliate thereof has [***]; (b) except for (i) the Cellscript
Sublicense Agreement; (ii) this Agreement to Company, (iii) the mRNA RiboTherapeutics Sublicense Agreement to Company, (iv) [***], and (v) [***]; and (c) neither mRNA RiboTherapeutics nor any affiliate thereof has granted any liens or
encumbrances in or to its rights in Patent Rights or the Cellscript Sublicense Agreement. 
 9.5.3    Cellscript has not
breached or defaulted under any provision of the Cellscript Sublicense Agreement in any material respect or received any written notice from mRNA RiboTherapeutics of any claims for indemnification pursuant thereto and mRNA RiboTherapeutics
has not breached or defaulted under any provision of the Penn License Agreement in any material respect or received any written notice from Penn of any claims for indemnification pursuant thereto. 

9.5.4    To the knowledge of mRNA RiboTherapeutics, (a) there are no facts that would preclude Penn from having clear
title to the Patent Rights, (b) there are no pending or threatened litigations, interferences, reexaminations, oppositions or like procedures involving any such Patent Rights and (c) all of the issued patents within the Patent Rights are
valid and enforceable, are in full force and effect and have not lapsed, expired or otherwise terminated. 

9.5.5    mRNA RiboTherapeutics believes the terms and conditions of this Agreement are [***] consistent with the terms and
conditions of the Cellscript Sublicense Agreement and the Penn License Agreement. 
 9.5.6    mRNA RiboTherapeutics has
not received, any written notice of any claim by any person or entity challenging the sublicense rights of Cellscript or the validity or enforceability of the Patent Rights. 

9.5.7    [***] 

9.5.8    mRNA RiboTherapeutics believes that the representations and warranties of mRNA RiboTherapeutics in this
Agreement, do not, taken as a whole, (i) contain any untrue statement of a material fact; or (ii) omit to state any material fact necessary to make the statements or facts contained therein, in light of the circumstances under which they
were made, not misleading. mRNA RiboTherapeutics has not knowingly withheld any information with respect to the Cellscript Sublicense Agreement, the Penn License Agreement or the Patent Rights that would reasonably be expected to be material
to Company’s decision to enter into this Agreement. 
 9.6    Representations and Warranties of
Company. Company, on behalf of itself and its affiliates, hereby represents and warrants to Cellscript and to mRNA RiboTherapeutics that, as of the Effective Date:  

9.6.1    Company is duly organized and validly existing under the laws of the jurisdiction of its incorporation and has
full corporate power and authority to enter into this Agreement. 
 9.6.2    Company is in good standing with all
relevant governmental authorities. 
 9.6.3    Company has taken all corporate actions necessary to authorize the
execution and delivery of this Agreement and the performance of its obligations under this Agreement. 

  
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 9.6.4    The performance of its obligations under this Agreement do not
conflict with or constitute a default under its charter documents, any contractual obligation of Company or any court order. 

9.6.5    [***] 

9.6.6    [***] 

9.6.7    Company has read the copy of the Penn License Agreement (including all exhibits and amendments thereto) that was
provided to Company by mRNA RiboTherapeutics or Cellscript. 
 9.6.8    Company has read the redacted copy of the
Cellscript Sublicense (including all exhibits and amendments thereto) that was provided to Company by Cellscript or mRNA RiboTherapeutics. 

9.6.9    Company believes that the representations and warranties of Company in this Agreement, do not, taken as a whole,
(i) contain any untrue statement of a material fact; or (ii) omit to state any material fact necessary to make the statements or facts contained therein, in light of the circumstances under which they were made, not misleading. Company has not
knowingly withheld any information with respect to the any of Company’s above statements that would reasonably be expected to be material to Cellscript’s decision to enter into this Agreement. 

9.7    Disclaimer of Warranties. EXCEPT AS SPECIFICALLY SET FORTH IN THIS ARTICLE 9, NO PARTY MAKES ANY
REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS OR SUFFICIENCY OF PATENT RIGHTS OR EXHIBIT D PATENTS FOR A PARTICULAR PURPOSE, APPLICATION OR USE,
NON-INFRINGEMENT, OR ANY OTHER STATUTORY WARRANTY. 
 10    ADDITIONAL TERMS REGARDING
SUBLICENSING 
 10.1    Purpose of this Article. This Article 10 sets forth terms and conditions for further
sublicensing by Primary Sublicensors in the Human In Vivo Therapeutics Field, wherein, for the purposes of this Article 10: 
  

	 	(a)	 “sublicensing” herein means any grant of a sublicense, covenant not to sue, or option for
current or future rights under Patent Rights, and the noun “sublicense” herein means a document that grants such sublicense, covenant not to sue, or option for current or future rights under Patent Rights; 

 

	 	(b)	 “Primary Sublicensors” herein means (i) mRNA RiboTherapeutics, (ii) Cellscript, and
(iii) any affiliate of (i) or (ii) that is granted a sublicense in the Human In Vivo Therapeutics Field; and 

  

	 	(c)	 “[***]” herein means any or all therapeutic and prophylactic use(s) in [***].

 For clarity and the absence of doubt, Article 10 shall not be interpreted in any way so as to limit, restrict or impose
any terms or conditions on Primary Sublicensors’ rights to grant sublicenses under Patent Rights to any party at any time for any Field of Use other than the Human In Vivo Therapeutics Field. 

  
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 10.2    Human In Vivo Therapeutics Field
Sublicenses. Subject to the rights of the Primary Sublicensors and their respective owners under Section 10.4, Cellscript, mRNA RiboTherapeutics and Company agree that, from the Effective Date until [***], mRNA RiboTherapeutics and
Cellscript will not grant and will ensure that other Primary Sublicensors will not grant Human In Vivo Therapeutics Field Sublicenses[***]. 

“Human In Vivo Therapeutics Field Sublicense” means a sublicense to make, have made, use, import,
offer for sale, sell and/or have sold any number of products [***] for the Human In Vivo Therapeutics Field, [***]. 

10.3    Product Sublicenses. Subject to the rights of the Primary Sublicensors and their respective owners under
Section 10.4, Cellscript, mRNA RiboTherapeutics and Company agree that, from the Effective Date until [***], Cellscript and mRNA RiboTherapeutics will (and will ensure that the other Primary Sublicensors will): 

(a)    grant Product Sublicenses only to [***], 

wherein “Product Sublicenses” herein mean sublicenses under Patent Rights to research, develop, manufacture and/or
commercialize specific products [***], for a therapeutic or prophylactic use in humans in the In Vivo Field of Use, and 
 wherein
“[***]” herein means [***]: 
  

	 	(i)	 [***] 

  

	 	(ii)	 [***] 

  

	 	(iii)	 [***] 

(b)    only grant [***] Sublicenses for [***] 

(c)    except as set forth in Sections 10.2 and 10.3, not otherwise grant sublicenses under the Patent Rights to research,
develop, manufacture and/or commercialize [***] [***]. 
 10.4    Sale of a Primary Sublicensor. Company
understands and agrees that the owners of each of mRNA RiboTherapeutics and Cellscript shall have the right to sell all or any part of the outstanding stock or ownership interest or the business or the assets thereof, as applicable, of mRNA
RiboTherapeutics and/or Cellscript [***] at any time and without any conditions pursuant to this Agreement other than the requirements under Section 15.5, 

except that, as a condition to any such sale occurring prior to [***]: 

(a)    the owners of each of mRNA RiboTherapeutics and Cellscript [***] sell mRNA RiboTherapeutics or Cellscript to [***];
and 
 (b)    without in any way negating or ceding or giving up any of their current rights to sell all or any part of
the stock, ownership interest, business or assets of mRNA RiboTherapeutics and/or Cellscript or to discuss any such sale with any potential purchaser at any time, including from the Effective Date of this Agreement [***], the owners of mRNA
RiboTherapeutics and Cellscript agree not to [***] prior to [***], 
 wherein “[***]” herein means [***]; and 

for the avoidance of doubt, Company agrees that this Section 10.4(a) shall not be interpreted so as to prohibit the owners of mRNA
RiboTherapeutics and/or Cellscript from [***]; 
 (c)    the purchaser of mRNA RiboTherapeutics or Cellscript,
respectively, will pay [***]; 

  
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 (d)    on the effective date of any such sale of [***], the purchased
company (whether mRNA RiboTherapeutics or Cellscript) and the purchaser and their assignees and successors in ownership thereof shall [***]: 
  

	 	(i)	 grant [***] Sublicenses to affiliates and Third Parties [***], and 

 

	 	(ii)	 grant [***] Sublicenses to affiliates and any Third Parties to research, develop, manufacture and/or
commercialize any number of products [***] without being subject to any of the restrictions, limitations or requirements that the sublicensee is [***] as is required of the Primary Sublicensors in Section 10.3; and 

(d)    on the effective date of any such sale of more than fifty percent (50%) of the outstanding stock or ownership
interest or all of the business or assets of mRNA RiboTherapeutics or Cellscript [***], all of the rights of the Primary Sublicensors to grant Product Sublicenses pursuant to Section 10.3 shall remain only with the Primary Sublicensors for
which their stock, ownership interest, business and assets were not sold. 
 [***] 

10.5    From [***], Primary Sublicensors and any owners, assignees or successors in ownership thereof shall have the right
to grant [***] of [***] Sublicense(s) to any parties without any conditions (other than those imposed by the Penn License Agreement or the Cellscript Sublicense) and to grant any number of Product Sublicenses or any other sublicenses of any kind
under Patent Rights to any parties without any limitations or restrictions or requirements whatsoever under this Article 10. 

11    LIMITATION OF LIABILITY; DISCLAIMER. 

11.1    Limitation of Liability. CELLSCRIPT, mRNA RIBOTHERAPEUTICS AND PENN WILL NOT BE LIABLE TO COMPANY, ITS
AFFILIATES, SUBLICENSEES, SUCCESSORS OR ASSIGNS, OR ANY THIRD PARTY WITH RESPECT TO ANY CLAIM: ARISING FROM COMPANY’S USE OF THE PATENT RIGHTS, EXHIBIT D PATENTS, LICENSED PRODUCTS OR ANY OTHER TECHNOLOGY LICENSED UNDER THIS AGREEMENT; OR
ARISING FROM THE COMPANY’S, COMPANY’S AFFILIATES’ OR COMPANY’S SUBLICENSEES’ DEVELOPMENT, TESTING, MANUFACTURE, USE OR SALE OF LICENSED PRODUCTS. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NONE OF CELLSCRIPT,
mRNA RIBOTHERAPEUTICS, PENN, OR COMPANY WILL BE LIABLE TO THE OTHER OR ANY THIRD PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN INFORMED OR SHOULD
HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED THAT THIS SECTION 11.1 WILL NOT APPLY: (a) TO A PARTY’S INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER ARTICLE 12 OR ARTICLE 13; (b) IN CIRCUMSTANCES OF GROSS NEGLIGENCE OR INTENTIONAL
MISCONDUCT BY A PARTY OR ITS AFFILIATES; OR (c) WITH RESPECT TO A PARTY’S LIABILITY FOR BREACH OF ARTICLE 5 or 10. 

11.2    Disclaimer. THE PATENT RIGHTS, EXHIBIT D PATENTS, LICENSED PRODUCTS AND ANY OTHER TECHNOLOGY LICENSED UNDER
THIS AGREEMENT ARE PROVIDED ON AN “AS IS” BASIS. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NONE OF CELLSCRIPT, mRNA RIBOTHERAPEUTICS, PENN, OR COMPANY MAKE ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR

  
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IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF ACCURACY, COMPLETENESS, PERFORMANCE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, COMMERCIAL UTILITY,
NON-INFRINGEMENT, VALIDITY OR TITLE. 
 12    PENN INDEMNIFICATION 

12.1    Indemnification. Company will defend, indemnify, and hold harmless each Penn Indemnified Party from and
against any and all Penn Liabilities with respect to an Indemnification Event. The term “Penn Indemnified Party” means each of Penn and its trustees, officers, faculty, students, employees, contractors, and agents. For clarity,
Cellscript is not a Penn Indemnified Party. The term “Penn Liabilities” means all damages, awards, deficiencies, settlement amounts, defaults, assessments, fines, dues, penalties, costs, fees, liabilities, obligations, taxes, liens,
losses, lost profits and expenses (including, but not limited to, court costs, interest and reasonable fees of attorneys, accountants and other experts) that are incurred by a Penn Indemnified Party or awarded or otherwise required to be paid to
Third Parties by a Penn Indemnified Party. The term “Indemnification Event” means any Claim against one or more Penn Indemnified Parties arising out of or resulting from: [***]. The term “Claim” in
this Article 12 means any charges, complaints, actions, suits, proceedings, hearings, investigations, claims or demands. 

12.2    Reimbursement of Costs. Company will pay directly all Penn Liabilities incurred for defense or negotiation
of any Claim or will reimburse Penn for all documented Penn Liabilities incident to the defense or negotiation of any Claim within [***] days after Company’s receipt of invoices for such fees, expenses and charges. 

12.3    Control of Litigation. Company controls any litigation or potential litigation involving the defense of any
Claim, including the selection of counsel, with input from Penn. Penn reserves the right to protect its interest in defending against any Claim by selecting its own counsel, with any attorneys’ fees and litigation expenses paid for by Company,
pursuant to Sections 12.1 and 12.2. 
 12.4    Other Provisions. Company will not settle or compromise any Claim
giving rise to Penn Liabilities in any manner that imposes any restrictions or obligations on Penn or grants any rights to the Patent Rights, Exhibit D Patents or the Licensed Products without Penn’s prior written consent. If Company fails or
declines to assume the defense of any Claim within [***] days after notice of the Claim, or fails to reimburse a Penn Indemnified Party for any Penn Liabilities pursuant to Sections 12.1 and 12.2 within the [***] day time period set forth in
Section 12.2, then Penn may assume the defense of such Claim for the account and at the risk of Company, and any Penn Liabilities related to such Claim will be conclusively deemed a liability of Company. The indemnification rights of the Penn
Indemnified Parties under this Article 12 are in addition to all other rights that a Penn Indemnified Party may have at law, in equity or otherwise. 

  
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 13    OTHER INDEMNIFICATION 

13.1     Indemnification by Company. Company will indemnify, defend and hold harmless Cellscript and its affiliates,
and its or their respective directors, officers, employees and agents (“Cellscript Indemnified Parties”), from and against any and all liabilities, damages, losses, costs and expenses including the reasonable fees of attorneys
(collectively “Losses”) arising out of or resulting from any and all Third Party suits, claims, actions, proceedings, payment obligations or demands (“Claims” in this Article 13) to the extent based upon:

 13.1.1     [***] 

13.1.2     [***] 

13.1.3     [***] 

except, in each case above, to the extent such Claim arose out of or resulted from or is attributable to any acts or omissions of Cellscript
or its directors, officers, employees and agents, or other circumstances for which Cellscript has an indemnity obligation pursuant to Section 13.2 below. 

13.2    Indemnification by Cellscript. Cellscript will indemnify, defend and hold harmless Company and its
affiliates, and its or their respective directors, officers, employees and agents (“Company Indemnified Parties”), from and against any and all Losses arising out of or resulting from any and all Claims to the extent based upon:

 13.2.1    [***] 

13.2.2    [***] 

except, in each case above, to the extent such Claim arose out of or resulted from or is attributable to any acts or omissions of Company or
its affiliates or Third Party sublicensees or contractors and its or their respective directors, officers, employees and agents or other circumstances for which Company has an indemnity obligation pursuant to Section 13.1 above. 

13.3    Procedure. If an Indemnified Party entitled to indemnification under Sections 13.1 or 13.2 seeks such
indemnification (wherein “Indemnified Party” in this Article 13 means a “Company Indemnified Party” and/or an “Cellscript Indemnified Party”), such Indemnified Party will: 

(i)    inform the indemnifying Party in writing of a Claim as soon as reasonably practicable after such Indemnified Party
receives notice of such Claim; 
 (ii)    permit the indemnifying Party to assume direction and control of the defense
of the Claim (including the sole right to settle such Claim at the sole discretion of the indemnifying Party, provided that (a) such settlement or compromise does not admit any fault or negligence on the part of the Indemnified Party, or
impose any obligation on, or otherwise materially adversely affect, the Indemnified Party or other Party and (b) the indemnifying Party first obtains the written consent of the Indemnified Party with respect to such settlement, which consent
will not be unreasonably withheld); 
 (iii)    cooperate as reasonably requested (at the expense of the indemnifying
Party) in the defense of the Claim; and 
 (iv)    undertake reasonable steps to mitigate any Losses with respect to the
Claim. 
 Notwithstanding anything in this Agreement to the contrary, the indemnifying Party will have no liability under Sections 13.1 or
13.2, as the case may be, for Claims settled or compromised by the Indemnified Party without the indemnifying Party’s prior written consent. 

14    INSURANCE 

14.1    Coverages. Company will procure and maintain insurance or self-insurance that covers the following minimum
liability amounts with respect to personal injury, bodily injury and property damage arising out of Company’s performance under this Agreement: (a) during the Term, comprehensive general liability, including broad form and contractual
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minimum amount of $[***] combined single limit per occurrence and in the aggregate; (b) prior to the commencement of clinical trials involving Licensed Products, clinical trials a minimum amount
of $[***] combined single limit per occurrence and in the aggregate; and (c) prior to the Sale of the first Licensed Product, product liability a minimum amount of $[***] combined single limit per occurrence and in the aggregate. Penn and
Cellscript may review periodically the adequacy of the minimum amounts of insurance or self-insurance for each liability coverage area required by this Section 14.1, and Penn and Cellscript reserve the right to request Company to adjust the
limits accordingly to the extent existing limits are not commercially reasonable. The required minimum amounts of insurance or self-insurance do not constitute a limitation on Company’s liability or indemnification obligations to Penn or
Cellscript under this Agreement. 
 15    ADDITIONAL PROVISIONS 

15.1    Independent Contractors. The Parties are independent contractors. Nothing contained in this Agreement is
intended to create an agency, partnership or joint venture between the Parties. At no time will either Party make commitments or incur any charges or expenses for or on behalf of the other Party. 

15.2    No Discrimination. Company will not discriminate against any employee or applicant for employment because
of race, color, sex, sexual or affectional preference, age, religion, national or ethnic origin, handicap, or veteran status. 

15.3    Compliance with Laws. Company must comply with all prevailing laws, rules and regulations that apply to its
activities or obligations under this Agreement. For example, Company will comply with applicable United States export laws and regulations. The transfer of certain technical data and commodities may require a license from the applicable agency of
the United States government and/or written assurances by Company that Company will not export data or commodities to certain foreign countries without prior approval of the agency. Penn and Cellscript do not represent that no license is required,
or that, if required, the license will issue. 
 15.4    Modification, Waiver & Remedies.
This Agreement may only be modified by a written amendment that is executed by an authorized representative of each Party. Any waiver must be express and in writing. No waiver by either Party of a breach by the other Party will constitute a waiver
of any different or succeeding breach. Unless otherwise specified, all remedies are cumulative. 

15.5    Assignment. This Agreement may not be assigned (by operation of law or otherwise) by either Party without
the prior written consent of the other Party (which consent will not be unreasonably withheld); except that, either Party may assign this Agreement without such consent to an affiliate or to a Third Party successor that purchases greater than
fifty percent (>50%) of the outstanding stock or ownership interest or all or substantially all of such Party’s business or assets to which this Agreement relates, whether by sale of shares or ownership interest, merger, consolidation, sale
of assets or otherwise, provided that, prior to said transfer, the intended assignee agrees in writing to be legally bound by this Agreement in the place and stead of the assignor and provides the
non-assigning Party with a copy of said assignee’s written undertaking. Neither Party will grant a security interest in the Sublicense or this Agreement during the Term. Any prohibited assignment or
security interest in contravention of the foregoing will be null and void. The rights and obligations of the Parties under this Agreement will be binding upon and inure to the benefit of the successors and permitted assigns of the Parties, and the
name of a Party appearing herein will be deemed to include the name of such Party’s successors and permitted assigns to the extent necessary to carry out the intent of this Section 15.5. 

  
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 15.6    Notices. Any notice or other required communication (each,
a “Notice”) must be in writing, addressed to the Party’s respective Notice Address listed on the signature page, and delivered: (a) personally, with signed receipt; (b) by certified mail, postage prepaid, return
receipt requested; (c) by recognized overnight courier service, charges prepaid; or (d) by facsimile. A Notice will be deemed received: if delivered personally, on the date of delivery; if mailed, five (5) days after deposit in the
United States mail; if sent via courier, one (1) business day after deposit with the courier service; or if sent via facsimile, upon receipt of confirmation of transmission provided that a confirming copy of such Notice is sent by certified
mail, postage prepaid, return receipt requested. 
 15.7    Severability & Reformation. If
any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, then the remaining provisions of this Agreement will remain in full force and effect. Such invalid or unenforceable provision will be
automatically revised to be a valid or enforceable provision that comes as close as permitted by law to the Parties’ original intent. 

15.8    Headings & Counterparts. The headings of the articles and sections included in this
Agreement are inserted for convenience only and are not intended to affect the meaning or interpretation of this Agreement. This Agreement may be executed in one or more counterparts, each of which when executed and delivered by facsimile,
electronic transmission, or by mail delivery, will be an original and all of which shall constitute one and the same instrument. 

15.9    Governing Law. This Agreement will be governed in accordance with the laws of the Commonwealth of
Pennsylvania, without giving effect to the conflict of law provisions of any jurisdiction. 
 15.10    Dispute
Resolution. If a dispute arises between the Parties concerning any right or duty under this Agreement, then the Parties will confer, as soon as practicable, in an attempt to resolve the dispute. If the Parties are unable to resolve the dispute
amicably, then the Parties will submit to the exclusive jurisdiction of, and venue in, the state and Federal courts located in the Eastern District of Pennsylvania with respect to all disputes arising under this Agreement. Notwithstanding anything
herein to the contrary, in the event of an actual or threatened breach of this Agreement, the aggrieved Party may seek provisional equitable relief (including restraining orders, specific performance or other injunctive relief) in any court of
competent jurisdiction to protect the interests of such Party. 
 15.11    Further Assurance. Each Party shall
duly execute and deliver, or cause to be duly executed and delivered, such further instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents and instruments, as may be
necessary or as the other Party may reasonably request in connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies under this
Agreement. 
 15.12    Interpretation. Except where the context otherwise requires, wherever used, the singular
shall include the plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). The captions of this Agreement are for convenience of reference only and
in no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The term “including” as used herein shall mean including, without limiting the generality of any

  
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description preceding such term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against
either Party hereto. 
 15.13    Condition Precedent to Execution of this Agreement. The Parties understand and
agree that each Party’s willingness to enter into this Agreement is contingent upon the execution of both this Agreement and the mRNA RiboTherapeutics Sublicense Agreement ([***]), and, as such, the Parties’ willingness to enter into this
Agreement is conditioned upon the execution of the mRNA RiboTherapeutics Sublicense Agreement concurrently with this Agreement. 

15.14    Entire Agreement. This Agreement and the mRNA RiboTherapeutics Sublicense Agreement set forth the
complete, final and only agreements with respect to the subject matter hereof and supersede all other agreements and understandings between the Parties with respect to the subject matter hereof. The Parties acknowledge and agree that this Agreement
and the mRNA RiboTherapeutics Sublicense Agreement are separate and distinct agreements and there will be no “cross default” with respect to this Agreement and the mRNA RiboTherapeutics Sublicense Agreement. 

[Remainder of Page Intentionally Left Blank] 

  
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ACT OF 1933, AS AMENDED 
  

 Each Party has caused this Agreement to be executed by its duly authorized representative. 

 

									
	CELLSCRIPT, LLC	 		 	MODERNATX, INC
					
	By:	 	/s/ Gary A. Dahl, Ph.D.	 		 	By:	 	/s/ Stephen Hoge, M.D.
	Name:	 	Gary A. Dahl, Ph.D.	 		 	Name:	 	Stephen Hoge, M.D.
	Title:	 	President	 		 	Title:	 	President

  

									
	Address:	 	CELLSCRIPT, LLC	 		 	MODERNATX, INC.
		 	726 Post Road	 		 	320 Bent Street
		 	Madison, WI 53713	 		 	Cambridge, MA 02141

 mRNA RIBOTHERAPEUTICS, INC., 

which is executing this Agreement solely 
 with respect to the
following provisions: 
  

	 	•	 	 Section 6.5.1, solely with respect to acceptance of sublicense agreements assigned by Cellscript;

  

	 	•	 	 Section 9.2, including 9.2.1 through 9.2.9; 

 

	 	•	 	 Section 9.5, including 9.5.1 through 9.5.8; and 

 

	 	•	 	 Article 10. 

  

			
	By:	 	/s/ Gary A. Dahl, Ph.D.
	Name:	 	Gary A. Dahl, Ph.D.
	Title:	 	President

  
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ACT OF 1933, AS AMENDED 
  

 EXHIBIT INDEX 

 

			
		
	Exhibit A	  	Patents and Patent Applications in Patent Rights
		
	Exhibit B	  	Sublicense Disclosure Report
		
	Exhibit C	  	Form of Royalty Report
		
	Exhibit D	  	Cellscript’s Exhibit D Patents

  
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 EXHIBIT A – Patents and Patent Applications in Patent Rights 

EXHIBIT A-1 [***] 
  

									
	 Patent

Application No.
	  	 Patent No.
	  	 Filing Date
	  	 Issue Date
	  	 Title

	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]

  
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ACT OF 1933, AS AMENDED 
  

 EXHIBIT A – Patents and Patent Applications in Patent Rights 

(continued) 
 EXHIBIT A-2 [***] 
  

									
	 Patent

Application No.
	  	 Patent No.
	  	 Filing Date
	  	 Issue Date
	  	 Title

	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  		  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  	[***]	  	[***]	  		  	[***]
	[***]	  		  	[***]	  		  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  		  	[***]	  		  	[***]

  
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ACT OF 1933, AS AMENDED 
  

 Exhibit B 

Sublicense Disclosure Report 

[***] 

  
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 EXHIBIT C – Format of Royalty Report 

[***] 

  
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ACT OF 1933, AS AMENDED 
  

 Exhibit D 

Exhibit D Patents Sublicensed to Company under Section 1.7. 

 

									
	 Patent Application No.
	  	 Patent No.
	  	 Filing Date
	  	 Issue Date
	  	 Title

	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]	  		  	[***]

  
 36Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT (the “Employment Agreement”), dated November 8, 2018 (the “Effective Date”), by and between At Home RMS Inc., a Delaware corporation (the “Company”) and Jeffrey R. Knudson (the “Executive”) (each of the Executive and the Company, a “Party,” and collectively, the “Parties”).

 

WHEREAS, the Company appointed the Executive to the position of Chief Financial Officer of the Company effective as of September 28, 2018 pursuant to the terms of the Offer Letter between the Company and the Executive dated as of August 27, 2018 (the “Offer Letter”);

 

WHEREAS, the Company desires to continue to employ the Executive as Chief Financial Officer of the Company and wishes to be assured of the Executive’s services on the terms and conditions hereinafter set forth; and

 

WHEREAS, the Executive desires to continue to be employed by the Company as Chief Financial Officer and to perform and to serve the Company on the terms and conditions hereinafter set forth; and

 

WHEREAS, the Parties desire for the terms and conditions hereinafter set forth to replace the terms of the Offer Letter effective as of the date hereof.

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other valid consideration, the sufficiency of which is acknowledged, the Parties hereto agree as follows:

 

Section 1.                   Employment.

 

1.1.                            Term.  Subject to Section 3 hereof, the Company agrees to employ the Executive, and the Executive agrees to be employed by the Company, as of September 28, 2018 under the terms of the Offer Letter and as of the Effective Date pursuant to this Employment Agreement, until either Party terminates the Employment Agreement in accordance with Section 3 hereof (the “Term”).  The Executive’s period of employment pursuant to this Employment Agreement shall hereinafter be referred to as the “Employment Period.”

 

1.2.                            Duties.  During the Employment Period, the Executive shall serve as Chief Financial Officer of the Company and such other positions as an officer or director of the Company and such affiliates of the Company as the Company shall determine from time to time.  In the Executive’s position of Chief Financial Officer, the Executive shall perform duties customary for the Chief Financial Officer of a company similar to the Company’s size and nature, plus such additional duties, consistent with the foregoing, as the Chief Executive Officer (“CEO”) may assign.  The Executive’s principal place of employment shall be the Company’s headquarters in Plano, Texas.

 

1.3.                            Exclusivity.  During the Employment Period, the Executive shall devote substantially all of the Executive’s business time and attention to the business and affairs of the Company, shall faithfully serve the Company, and shall conform to and comply with the

 

 

lawful directions and instructions given to the Executive by the CEO, consistent with Section 1.2 hereof.  During the Employment Period, the Executive shall use the Executive’s best efforts to promote and serve the interests of the Company and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit; provided, that the Executive may (a) serve any civic, charitable, educational or professional organization, (b) serve on the board of directors of for-profit business enterprises, provided that such service is approved by the board of directors (the “Board”) of At Home Group Inc. (“Holding”) and (c) manage the Executive’s personal investments, in each case so long as any such activities do not (x) violate the terms of this Employment Agreement (including Section 4) or (y) materially interfere with the Executive’s duties and responsibilities to the Company.

 

Section 2.                   Compensation.

 

2.1.                            Salary.  As compensation for the performance of the Executive’s services hereunder, during the Employment Period, the Company shall pay to the Executive a salary at an annual rate of $450,000.00, payable in accordance with the Company’s standard payroll policies (the “Base Salary”).  The Base Salary will be reviewed annually and may be adjusted by the Board (or a committee thereof) in its discretion.

 

2.2.    Annual Bonus.  For each fiscal year ending during the Employment Period, the Executive shall be eligible for potential awards of additional compensation (the “Annual Bonus”) to be based upon Company performance targets determined by the Board.  The Annual Bonus shall be prorated for the partial fiscal year during which the Effective Date occurred; provided however, the Executive’s bonus payout for the fiscal year ending January 26, 2019 shall not be less than $180,000, subject to his continued employment through the date of payment thereof.  The Executive’s target Annual Bonus opportunity for each fiscal year that ends during the Employment Period shall equal sixty percent (60%) of the Base Salary (the “Target Annual Bonus Opportunity”), with the actual Annual Bonus to be based on the Company’s actual performance relative to the Company performance targets set by the Board (or a committee thereof).  The maximum bonus payable shall be equal to one hundred percent (100%) of the Base Salary.  The Annual Bonus shall be paid in cash within three months after the end of the Company’s fiscal year.

 

2.3.                            Employee Benefits.  During the Employment Period, the Executive shall be eligible to participate in such health and other group insurance and other employee benefit plans and programs of the Company as in effect from time to time on the same basis as other senior executives of the Company.  In addition, the Executive shall be entitled to relocation benefits in accordance with the Company’s relocation guidelines for executive officers, subject to the execution of the Company’s standard Relocation Expense Reimbursement Agreement.

 

2.4.                            Paid Time Off.  During the Employment Period, the Executive shall be entitled to two hundred forty (240) hours of paid time off (including vacation, sick and other personal time) per calendar year, in accordance with the terms of the Company’s paid time off policy, as may be in effect from time to time.

 

2.5.                            Business Expenses.  The Company shall pay or reimburse the Executive, upon presentation of documentation, for all reasonable business out-of-pocket expenses

 

2

 

that the Executive incurs during the Employment Period in performing the Executive’s duties under this Employment Agreement and in accordance with the expense reimbursement policy of the Company as approved by the CEO and in effect from time to time.  Notwithstanding anything herein to the contrary or otherwise, except to the extent any expense or reimbursement described in this Employment Agreement does not constitute a “deferral of compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance thereunder (“Section 409A”), any expense or reimbursement described in this Employment Agreement shall meet the following requirements:  (i) the amount of expenses eligible for reimbursement provided to the Executive during any calendar year will not affect the amount of expenses eligible for reimbursement to the Executive in any other calendar year; (ii) the reimbursements for expenses for which the Executive is entitled to be reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred; (iii) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other benefit; and (iv) the reimbursements shall be made pursuant to objectively determinable and nondiscretionary Company policies and procedures regarding such reimbursement of expenses.

 

Section 3.                   Employment Termination.

 

3.1.                            Termination of Employment.  The Company may terminate the Executive’s employment hereunder for any reason during the Term upon not less than 15 days’ written notice to the Executive (other than in the event of a termination by the Company for Cause), and the Executive may voluntarily terminate the Executive’s employment hereunder for any reason during the Term upon not less than 15 days’ written notice to the Company (the date on which the Executive’s employment terminates for any reason is herein referred to as the “Termination Date”).  Upon the termination of the Executive’s employment with the Company for any reason, the Executive shall be entitled to (i) payment of any Base Salary earned but unpaid through the Termination Date, and (ii) solely to the extent required by applicable law, accrued but unused paid-time-off (consistent with Section 2.4 hereof) paid out at the per-business-day Base Salary rate, (iii) vested benefits (if any) in accordance with the applicable terms of applicable Company arrangements and (iv) any unreimbursed expenses in accordance with Section 2.5 hereof (collectively, the “Accrued Amounts”).

 

3.2.                            Certain Terminations.

 

(a)                                 Termination by the Company other than for Cause, Death or Disability.  If the Executive’s employment is terminated by the Company other than for Cause, death or Disability, in addition to the Accrued Amounts, the Executive shall be entitled to a payment equal to one times the Executive’s Base Salary at the rate in effect immediately prior to the Termination Date (the “Severance Amount”).  The Company’s obligations to pay the Severance Amount shall be conditioned upon: (i) the Executive’s continued compliance with the Executive’s obligations under Section 4 of this Employment Agreement and (ii) the Executive’s execution, delivery and non-revocation of a valid and enforceable general release of claims (the “Release”) substantially in the form attached hereto as Exhibit A, within 45 days after the Executive’s Termination Date.  Subject to Section 3.2(c), the Severance Amount shall be paid in equal installments on the Company’s regular payroll dates occurring during the 12-month period beginning on the first payroll date following the date on which the Release has become effective.

 

3

 

(b)                                 Definitions.  For purposes of Section 3, the following terms have the following meanings:

 

(1)                                 “Cause” shall mean the Executive’s having engaged in any of the following:  (A) willful misconduct or gross negligence in the performance of any of the Executive’s duties to the Company, which, if capable of being cured, is not cured to the satisfaction of the CEO within 30 days after the Executive receives from the CEO notice of such willful misconduct or gross negligence; (B) refusal or intentional failure to perform assigned duties by the CEO, which is not cured to the satisfaction of the CEO within 30 days after the Executive receives from the CEO notice of such failure or refusal; (C) any indictment for, conviction of, or plea of guilty or nolo contendere to, (1) any felony (other than motor vehicle offenses the effect of which do not materially affect the performance of the Executive’s duties) or (2) any crime (whether or not a felony) involving fraud, theft, breach of trust or similar acts, whether of the United States or any state thereof or any similar foreign law to which the Executive may be subject; or (D) any failure to comply with any written rules, regulations, policies or procedures of the Company which, if not complied with, would reasonably be expected to have a material adverse effect on the business or financial condition of the Company, which in the case of a failure that is capable of being cured, is not cured to the satisfaction of the CEO within 30 days after the Executive receives from the Company written notice of such failure; or (E) misconduct that would cause the Company to violate any law relating to sexual harassment or age, sex or other prohibited discrimination, which in the case of a failure that is capable of being cured, is not cured to the satisfaction of the CEO within 30 days after the Executive receives from the Company written notice of such failure.  If the Company terminates the Executive’s employment for Cause, the Company shall provide written notice to the Executive of that fact on or before the termination of employment.  However, if, within 60 days following the termination, the Company first discovers facts that would have established “Cause” for termination, and those facts were not known by the Company at the time of the termination, then the Company may provide Executive with written notice, including the facts establishing that the purported “Cause” was not known at the time of the termination, in which case the Executive’s termination of employment will be considered a for Cause termination under this Employment Agreement.

 

(2)                                 “Disability” shall mean the Executive is entitled to and has begun to receive long-term disability benefits under the long-term disability plan of the Company in which Executive participates, or, if there is no such plan, the Executive’s inability, due to physical or mental ill health, to perform the essential functions of the Executive’s job, with or without a reasonable accommodation, for 180 days out of any 270 day consecutive day period.

 

(c)                                  Section 409A.  If the Executive is a “specified employee” for purposes of Section 409A, any Severance Amount required to be paid pursuant to Section 3.2 which is subject to Section 409A shall commence on the day after the first to occur of (i) the day which is six months from the Termination Date, (ii) the date of the Executive’s death, with any delayed amounts being paid in lump sum on such date and any remaining payments being made in the normal course.  For purposes of this Employment Agreement, the terms “terminate,” “terminated” and “termination” mean a termination of the Executive’s employment that constitutes a “separation from service” within the meaning of the default rules under Section 409A.  For purposes of Section 409A, the right to a series of installment payments under this Employment Agreement shall be treated as a right to a series of separate payments.

 

4

 

3.3.                            Exclusive Remedy.  The foregoing payments upon termination of the Executive’s employment shall constitute the exclusive severance payments due the Executive upon a termination of the Executive’s employment.

 

3.4.                            Resignation from All Positions.  Upon the termination of the Executive’s employment with the Company for any reason, the Executive shall resign, as of the date of such termination, from all positions the Executive then holds as an officer, director, employee and member of the board of directors (and any committee thereof) of Holding and its direct and indirect subsidiaries and affiliates (the “Company Group”).  The Executive shall be required to execute such writings as are required to effectuate the foregoing.

 

3.5.                            Cooperation.  Following the termination of the Executive’s employment with the Company for any reason, the Executive shall reasonably cooperate with the Company upon reasonable request of the CEO and be reasonably available to the Company (taking into account any other full-time employment of the Executive) with respect to matters arising out of the Executive’s services to the Company and its subsidiaries.

 

Section 4.                   Unauthorized Disclosure; Non-Competition; Non-Solicitation; Interference with Business Relationships; Proprietary Rights.

 

4.1.                            Unauthorized Disclosure.  The Executive agrees and understands that in the Executive’s position with the Company, the Executive has been and will be exposed to and has and will receive information relating to the confidential affairs of the Company Group, including, without limitation, technical information, intellectual property, business and marketing plans, strategies, customer information, software, other information concerning the products, promotions, development, financing, expansion plans, business policies and practices of the Company Group and other forms of information considered by the Company Group to be confidential or in the nature of trade secrets (including, without limitation, ideas, research and development, know-how, formulas, technical data, designs, drawings, specifications, customer and supplier lists, pricing and cost information and business and marketing plans and proposals) (collectively, the “Confidential Information”).  Confidential Information shall not include information that is generally known to the public or within the relevant trade or industry other than due to the Executive’s violation of this Section 4.1 or disclosure by a third party who is known by the Executive to owe the Company an obligation of confidentiality with respect to such information.  The Executive agrees that at all times during the Executive’s employment with the Company and thereafter, the Executive shall not disclose such Confidential Information, either directly or indirectly, to any individual, corporation, partnership, limited liability company, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof (each a “Person”) without the prior written consent of the Company and shall not use or attempt to use any such information in any manner other than in connection with the Executive’s employment with the Company, unless required or permitted by law to disclose such information, in which case the Executive shall provide the Company with written notice of such requirement as far in advance of such anticipated disclosure as possible.  This confidentiality covenant has no temporal, geographical or territorial restriction.  Upon termination of the Executive’s employment with the Company, the Executive shall promptly supply to the Company all property, keys, notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical data

 

5

 

and any other tangible product or document which has been produced by, received by or otherwise submitted to the Executive during or prior to the Executive’s employment with the Company, and any copies thereof in the Executive’s (or reasonably capable of being reduced to Executive’s) possession; provided that nothing in this Employment Agreement or elsewhere shall prevent the Executive from retaining and utilizing: documents relating to the Executive’s personal benefits, entitlements and obligations; documents relating to the Executive’s personal tax obligations; the Executive’s desk calendar, address book, and the like; and such other records and documents as may reasonably be approved by the Company.  Notwithstanding the foregoing, nothing herein shall prevent the Executive from disclosing Confidential Information to the extent required by law.  Additionally, nothing herein shall preclude the Executive’s right to communicate, cooperate or file a complaint with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise make disclosures to any Governmental Entity, in each case, that are protected under the whistleblower or similar provisions of any such law or regulation; provided that in each case such communications and disclosures are consistent with applicable law.  Nothing herein shall preclude the Executive’s right to receive an award from a Governmental Entity for information provided under any whistleblower or similar program.  The Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in confidence to a federal, state or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law.  The Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, provided that such filing is made under seal.  If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive’s attorney and use the trade secret information in any related court proceeding, provided that the Executive files any document containing the trade secret under seal and does not disclose the trade secret except pursuant to court order.

 

4.2.                            Non-Competition.  By and in consideration of the Company’s entering into this Employment Agreement, and in further consideration of the Executive’s exposure to the Confidential Information of the Company Group, the Executive agrees that the Executive shall not, during the Employment Period and for one year following the Executive’s Termination Date (the “Restriction Period”), directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of, or be connected in any manner with, including, without limitation, holding any position as a stockholder, director, officer, consultant, independent contractor, employee, partner, or investor in, any Restricted Enterprise (as defined below); provided, that in no event shall ownership of one percent or less of the outstanding securities of any class of any issuer whose securities are registered under the Securities Exchange Act of 1934, as amended, standing alone, be prohibited by this Section 4.2, so long as the Executive does not have, or exercise, any rights to manage or operate the business of such issuer other than rights as a stockholder thereof.  For purposes of this paragraph, “Restricted Enterprise” shall mean any retail enterprise offering merchandise in home furnishings, home décor and accessories, outdoor furnishings, garden décor, seasonal decorations or similar product categories.

 

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4.3.                            Non-Solicitation of Employees.  During the Restriction Period, the Executive shall not directly or indirectly hire, contact, induce or solicit (or assist any Person to hire, contact, induce or solicit) for employment any person who is, or within 12 months prior to the date of such hiring, contacting, inducing or solicitation was, an employee of any member of the Company Group.

 

4.4.                            Interference with Business Relationships.  During the Restriction Period (other than in connection with carrying out the Executive’s responsibilities for the Company Group), the Executive shall not directly or indirectly induce or solicit (or assist any Person to induce or solicit) any customer or client of any member of the Company Group to terminate its relationship or otherwise cease doing business in whole or in part with any member of the Company Group, or directly or indirectly interfere with (or assist any Person to interfere with) any material relationship between any member of the Company Group and any of their customers or clients so as to cause harm to any member of the Company Group.

 

4.5.                            Extension of Restriction Period.  The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

 

4.6.                            Proprietary Rights.  The Executive shall disclose promptly to the Company any and all inventions, discoveries, and improvements (whether or not patentable or registrable under copyright or similar statutes), and all patentable or copyrightable works, initiated, conceived, discovered, reduced to practice, or made by him, either alone or in conjunction with others, during the Executive’s employment with the Company and related to the business or activities of the Company Group (the “Developments”).  Except to the extent any rights in any Developments constitute a work made for hire under the U.S. Copyright Act, 17 U.S.C. § 101 et seq. that are owned ab initio by a member of the Company Group, the Executive assigns and agrees to assign all of the Executive’s right, title and interest in all Developments (including all intellectual property rights therein) to the Company or its nominee without further compensation, including all rights or benefits therefor, including without limitation the right to sue and recover for past and future infringement.  The Executive acknowledges that any rights in any Developments constituting a work made for hire under the U.S. Copyright Act, 17 U.S.C § 101 et seq. are owned upon creation by the Company as the Executive’s employer.  Whenever requested to do so by the Company, the Executive shall execute any and all applications, assignments or other instruments which the Company shall deem necessary to apply for and obtain trademarks, patents or copyrights of the United States or any foreign country or otherwise protect the interests of the Company Group.  These obligations shall continue beyond the end of the Executive’s employment with the Company with respect to inventions, discoveries, improvements or copyrightable works initiated, conceived or made by the Executive while employed by the Company, and shall be binding upon the Executive’s employers, assigns, executors, administrators and other legal representatives.  In connection with the Executive’s execution of this Employment Agreement, the Executive has informed the Company in writing of any interest in any inventions or intellectual property rights that the Executive  holds as of the date hereof.  If the Company is unable for any reason, after reasonable effort, to obtain the Executive’s signature on any document needed in connection with the actions described in this Section 4.6, the Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as the Executive’s agent and attorney in fact to act for and on the Executive’s behalf to execute, verify

 

7

 

and file any such documents and to do all other lawfully permitted acts to further the purposes of this Section 4.6 with the same legal force and effect as if executed by the Executive.

 

4.7.                            Remedies.  The Executive agrees that any breach of the terms of this Section 4 would result in irreparable injury and damage to the Company Group for which the Company would have no adequate remedy at law; the Executive therefore also agrees that in the event of said breach or any threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all Persons acting for and/or with the Executive, without having to prove damages, in addition to any other remedies to which the Company may be entitled at law or in equity.  The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, without limitation, the recovery of damages from the Executive.  The Executive and the Company further agree that the provisions of the covenants contained in this Section 4 are reasonable and necessary to protect the businesses of the Company Group because of the Executive’s access to Confidential Information and the Executive’s material participation in the operation of such businesses.

 

Section 5.                   Representations.  The Executive represents and warrants that (i) the Executive is not subject to any contract, arrangement, policy or understanding, or to any statute, governmental rule or regulation, that in any way limits the Executive’s ability to enter into and fully perform the Executive’s obligations under this Employment Agreement and (ii) the Executive is not otherwise unable to enter into and fully perform the Executive’s obligations under this Employment Agreement.

 

Section 6.                   Non-Disparagement.  From and after the Effective Date and following termination of the Executive’s employment with the Company, the Executive agrees not to make any statement that is intended to become public, or that should reasonably be expected to become public, and that criticizes, ridicules, disparages or is otherwise derogatory of the Company, any of its subsidiaries, affiliates, employees, officers, directors or stockholders.

 

Section 7.                   Taxes; Clawbacks.

 

7.1.                            Withholding.  All amounts paid to the Executive under this Employment Agreement during or following the Employment Period shall be subject to withholding and other employment taxes imposed by applicable law.  The Executive shall be solely responsible for the payment of all taxes imposed on the Executive relating to the payment or provision of any amounts or benefits hereunder.

 

7.2.                            Clawbacks. If any law, rule or regulation applicable to the Company or its affiliates (including any rule or requirement of any nationally recognized stock exchange on which the stock of the Company or its affiliates has been listed), or any policy of the Company or its affiliates reasonably designed to comply therewith, requires the forfeiture or recoupment of any amount paid or payable to the Executive hereunder (or under any other agreement between the Executive and the Company or its affiliates or under any plan in which the Executive participates), the Executive hereby consents to such forfeiture or recoupment, in each case in the time and manner determined by the Company in its reasonable good faith discretion. Furthermore, if the Executive engages in any act of embezzlement, fraud or dishonesty involving the Company or its

 

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affiliates which results in a financial loss to the Company or its affiliates, the Company shall be entitled to recoup an amount from the Executive determined by the Company in its reasonable discretion to be commensurate with such financial loss.

 

Section 8.                   Miscellaneous.

 

8.1.                            Indemnification.  To the extent provided in the Company’s By-Laws and Certificate of Incorporation, the Company shall indemnify the Executive for losses or damages incurred by the Executive as a result of all causes of action arising from the Executive’s performance of duties for the benefit of the Company, whether or not the claim is asserted during the Employment Period.  This indemnity shall not apply to the Executive’s acts of willful misconduct or gross negligence.  The Executive shall be covered under any directors’ and officers’ insurance that the Company maintains for its directors and other officers in the same manner and on the same basis as the Company’s directors and other officers.

 

8.2.                            Amendments and Waivers.  This Employment Agreement and any of the provisions hereof may be amended, waived (either generally or in a particular instance and either retroactively or prospectively), modified or supplemented, in whole or in part, only by written agreement signed by the parties hereto; provided, that, the observance of any provision of this Employment Agreement may be waived in writing by the party that will lose the benefit of such provision as a result of such waiver.  The waiver by any party hereto of a breach of any provision of this Employment Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach, except as otherwise explicitly provided for in such waiver.  Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

 

8.3.                            Assignment; Third-Party Beneficiaries. This Employment Agreement, and the Executive’s rights and obligations hereunder, may not be assigned by the Executive, and any purported assignment by the Executive in violation hereof shall be null and void.  Nothing in this Employment Agreement shall confer upon any Person not a party to this Employment Agreement, or the legal representatives of such Person, any rights or remedies of any nature or kind whatsoever under or by reason of this Employment Agreement, except (i) the personal representative of the deceased Executive may enforce the provisions hereof applicable in the event of the death of the Executive and (ii) any member of the Company Group may enforce the provisions of Section 4.  The Company is authorized to assign this Employment Agreement to a successor to substantially all of its assets.

 

8.4.                            Notices.  Unless otherwise provided herein, all notices, requests, demands, claims and other communications provided for under the terms of this Employment Agreement shall be in writing.  Any notice, request, demand, claim or other communication hereunder shall be sent by (i) personal delivery (including receipted courier service of delivery to the applicable address) or overnight delivery service, with confirmation of delivery to the applicable address (ii) e-mail (with electronic return receipt of delivery), (iii) reputable commercial overnight delivery service courier, with confirmation of delivery to the applicable address or (iv)

 

9

 

registered or certified mail, return receipt requested, postage prepaid and addressed to the intended recipient as set forth below:

 

If to the Company:

 

At Home RMS Inc.

1600 E. Plano Parkway

Plano, TX 75074

Attn: General Counsel

e-mail:  mbroussard@athome.com

 

with a copy to:

 

Fried, Frank, Harris, Shriver & Jacobson LLP

One New York Plaza

New York, NY  10004

Attention:  Jeffrey Ross, Esq.

e-mail: Jeffrey.Ross@friedfrank.com

 

If to the Executive:                                       Jeffrey R. Knudson, at the Executive’s principal office and e-mail address at the Company (during the Employment Period), and at all times to the Executive’s principal residence as reflected in the records of the Company.

 

All such notices, requests, consents and other communications shall be deemed to have been given when received.  Either party may change its address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties hereto notice in the manner then set forth.

 

8.5.                            Governing Law.  This Employment Agreement shall be construed and enforced in accordance with, and the laws of the State of Texas hereto shall govern the rights and obligations of the parties, without giving effect to the conflicts of law principles thereof.

 

8.6.                            Severability.  Whenever possible, each provision or portion of any provision of this Employment Agreement, including those contained in Section 4 hereof, will be interpreted in such manner as to be effective and valid under applicable law but the invalidity or unenforceability of any provision or portion of any provision of this Employment Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Employment Agreement in that jurisdiction or the validity or enforceability of this Employment Agreement, including that provision or portion of any provision, in any other jurisdiction.  In addition, should a court or arbitrator determine that any provision or portion of any provision of this Employment Agreement, including those contained in Section 4 hereof, is not reasonable or valid, either in period of time, geographical area, or otherwise, the parties hereto agree that such provision should be interpreted and enforced to the maximum extent which such court or arbitrator deems reasonable or valid.

 

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8.7.                            Entire Agreement.  From and after the Effective Date, this Employment Agreement constitutes the entire agreement between the parties hereto, and supersedes the Offer Letter and all prior representations, agreements and understandings (including any prior course of dealings), both written and oral, between the parties hereto with respect to the subject matter hereof.

 

8.8.                            Counterparts.  This Employment Agreement may be executed by facsimile or electronic transmission (e.g., “.pdf”) and in any number of counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute one and the same instrument.

 

8.9.                            Binding Effect.  This Employment Agreement shall inure to the benefit of, and be binding on, the successors and assigns of each of the parties, including, without limitation, the Executive’s heirs and the personal representatives of the Executive’s estate and any successor to all or substantially all of the business and/or assets of the Company.

 

8.10.                     General Interpretive Principles.  The name assigned this Employment Agreement and headings of the sections, paragraphs, subparagraphs, clauses and subclauses of this Employment Agreement are for convenience of reference only and shall not in any way affect the meaning or interpretation of any of the provisions hereof.  Words of inclusion shall not be construed as terms of limitation herein, so that references to “include,” “includes” and “including” shall not be limiting and shall be regarded as references to non-exclusive and non-characterizing illustrations.  Any reference to a Section of the Code shall be deemed to include any successor to such Section.

 

[signature page follows]

 

11

 

IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the date first written above.

 

	
 
    	
AT   HOME RMS INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/ MARY JANE BROUSSARD
    	
 
    
	
 
    	
Name:   Mary Jane Broussard
    	
 
    
	
 
    	
Title:   Vice President, General Counsel
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
EXECUTIVE
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   JEFFREY R. KNUDSON
    	
 
    
	
 
    	
Name:   Jeffrey R. Knudson
    	
 
    

 

[SIGNATURE PAGE TO EMPLOYMENT AGREEMENT]

 

 

EXHIBIT A

 

YOU SHOULD CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE OF CLAIMS.

 

Release of Claims

 

1.                                      In consideration of the payments and benefits to be made under the Employment Agreement, dated as of  [·] (the “Employment Agreement”), to which [·] (the “Executive”) and At Home RMS Inc., a Delaware corporation (the “Company”) (each of the Executive and the Company, a “Party” and collectively, the “Parties”) are parties, the sufficiency of which the Executive acknowledges, the Executive, with the intention of binding the Executive and the Executive’s heirs, executors, administrators and assigns, does hereby release, remise, acquit and forever discharge Holding (as defined in the Employment Agreement), the Company and each of its and their subsidiaries and affiliates (the “Company Affiliated Group”), their present and former officers, directors, executives, shareholders, agents, attorneys, employees and employee benefit plans (and the fiduciaries thereof), and the successors, predecessors and assigns of each of the foregoing (collectively, the “Company Released Parties”), of and from any and all claims, actions, causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial obligations, suits, expenses, attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown, suspected or unsuspected, which the Executive, individually or as a member of a class, now has, owns or holds, or has at any time heretofore had, owned or held, arising on or prior to the date hereof, against any Company Released Party that arises out of, or relates to, the Employment Agreement, the Executive’s employment with the Company or any of its subsidiaries and affiliates, or any termination of such employment, including claims (i) for severance or vacation benefits, unpaid wages, salary or incentive payments, (ii) for breach of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional infliction of emotional harm or other tort, (iii) for any violation of applicable state and local labor and employment laws (including, without limitation, all laws concerning unlawful and unfair labor and employment practices) and (iv) for employment discrimination under any applicable federal, state or local statute, provision, order or regulation, and including, without limitation, any claim under Title VII of the Civil Rights Act of 1964 (“Title VII”), the Civil Rights Act of 1988, the Fair Labor Standards Act, the Americans with Disabilities Act (“ADA”), the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Age Discrimination in Employment Act (“ADEA”), and any similar or analogous state statute, excepting only:

 

(A)                                     rights of the Executive arising under, or preserved by, this Release or Section 3 of the Employment Agreement;

 

(B)                                     the right of the Executive to receive COBRA continuation coverage in accordance with applicable law;

 

(C)                                     claims for benefits under any health, disability, retirement, life insurance or other, similar employee benefit plan (within the meaning of Section 3(3) of ERISA) of the Company Affiliated Group;

 

 

(D)                                     rights to indemnification the Executive has or may have under the by-laws or certificate of incorporation of any member of the Company Affiliated Group or as an insured under any director’s and officer’s liability insurance policy now or previously in force;

 

(E)                                      any matters which expressly survive the execution of this Release as set forth in the Employment Agreement, the terms and conditions of which are incorporated herein by reference; and

 

(F)                                       rights granted to Executive during the Executive’s employment related to the grant and/or purchase of equity and equity-based compensation of Holding.

 

2.                                      The Executive acknowledges and agrees that this Release is not to be construed in any way as an admission of any liability whatsoever by any Company Released Party, any such liability being expressly denied.

 

3.                                      This Release applies to any relief no matter how called, including, without limitation, wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages, damages for pain or suffering, costs, and attorneys’ fees and expenses.

 

4.                                      The Executive specifically acknowledges that the Executive’s acceptance of the terms of this Release is, among other things, a specific waiver of the Executive’s rights, claims and causes of action under Title VII, ADEA, ADA and any state or local law or regulation in respect of discrimination of any kind; provided, however, that nothing herein shall be deemed, nor does anything contained herein purport, to be a waiver of any right or claim or cause of action which by law the Executive is not permitted to waive.

 

5.                                      The Executive acknowledges that the Executive has been given a period of twenty-one (21) days to consider whether to execute this Release (although the Executive may not have utilized the entire twenty-one (21) day period).  If the Executive accepts the terms hereof and executes this Release, the Executive may thereafter, for a period of seven (7) days following (and not including) the date of execution, revoke this Release.  If no such revocation occurs, this Release shall become irrevocable in its entirety, and binding and enforceable against the Executive, on the day next following the day on which the foregoing seven-day period has elapsed.  If such a revocation occurs, the Executive shall irrevocably forfeit any right to payment of the Severance Amount (as defined in the Employment Agreement), but the remainder of the Employment Agreement shall continue in full force.

 

6.                                      The Executive acknowledges and agrees that the Executive has not, with respect to any transaction or state of facts existing prior to the date hereof, filed any complaints, charges or lawsuits against any Company Released Party with any governmental agency, court or tribunal.

 

7.                                      The Executive acknowledges that the Executive has been advised to seek, and has had the opportunity to seek, the advice and assistance of an attorney with regard to this Release, and has been given a sufficient period within which to consider this Release.

 

 

8.                                      The Executive acknowledges that this Release relates only to claims that exist as of the date of this Release.

 

9.                                      The Executive acknowledges that the Severance Amount the Executive is receiving in connection with this Release and the Executive’s obligations under this Release are in addition to anything of value to which the Executive is entitled from the Company.

 

10.                               Each provision hereof is severable from this Release, and if one or more provisions hereof are declared invalid, the remaining provisions shall nevertheless remain in full force and effect.  If any provision of this Release is so broad, in scope, or duration or otherwise, as to be unenforceable, such provision shall be interpreted to be only so broad as is enforceable.

 

11.                               This Release constitutes the complete agreement of the Parties in respect of the subject matter hereof and shall supersede all prior agreements between the Parties in respect of the subject matter hereof except to the extent set forth herein.  For the avoidance of doubt, however, nothing in this Release shall constitute a waiver of any Company Released Party’s right to enforce any obligations of the Executive under the Employment Agreement that survive the Employment Agreement’s termination, including without limitation, any non-competition covenant, non-solicitation covenant or any other restrictive covenants contained therein.

 

12.                               The failure to enforce at any time any of the provisions of this Release or to require at any time performance by another party of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect the validity of this Release, or any part hereof, or the right of any party thereafter to enforce each and every such provision in accordance with the terms of this Release.

 

13.                               This Release may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.  Signatures delivered by facsimile or electronic transmission (e.g., “.pdf”) shall be deemed effective for all purposes.

 

14.                               This Release shall be binding upon any and all successors and assigns of the Executive and the Company.

 

15.                               Except for issues or matters as to which federal law is applicable, this Release shall be governed by and construed and enforced in accordance with the laws of the State of Texas without giving effect to the conflicts of law principles thereof.

 

[signature page follows]

 

 

IN WITNESS WHEREOF, this Release has been signed by or on behalf of each of the Parties, all as of                     .

 

	
 
    	
AT HOME RMS INC.   
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
EXECUTIVE 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name:   [·]
    

 

[SIGNATURE PAGE TO RELEASE]

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