Common use of Research and Development Milestones Clause in Contracts

Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments: Proof of Concept Milestone* Event Milestone Payment [...***... ] €3.5 million […***…] Research Milestones** Event Milestone Payment (if any) [...***...] €2.5 million CONFIDENTIAL TREATMENT REQUESTED. INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND MARKED WITH “[...***...]”. AN UNREDACTED VERSION OF THE DOCUMENT HAS ALSO BEEN FURNISHED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION AS REQUIRED BY RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. […***…] Development Milestones*** Event Milestone Payment for [...***...] Milestone Payment for [...***...] Initiation of the first Phase I Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase I Milestone”) [...***...] [...***...] Initiation of the first Phase II Clinical Trial for the Product in the Field for use against the applicable Selected Target [...***...] [...***...] Initiation of the first Phase III Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase III Milestone”) [...***...] [...***...] […***…] Merck shall notify Ablynx in writing within […***…] following the achievement of each milestone, and shall make the appropriate milestone payment within […***…] after the achievement of such milestone.

Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments: Proof of Concept Milestone* Event Milestone Payment [...***... ] €3.5 million for […***…] Research Milestones*Target Combinations* Event Milestone Payment (if any) [...[ …***...…] €2.5 million […***…] […***…] [ …***…] [ …***…] […***…] [ …***…] […***…] […***…] CONFIDENTIAL TREATMENT REQUESTED. INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND MARKED WITH “[...***...]”. AN UNREDACTED VERSION OF THE DOCUMENT HAS ALSO BEEN FURNISHED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION AS REQUIRED BY RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. CONFIDENTIAL Research Milestones** Event Milestone Payment (if any) […***…] […***…] […***…] Development Milestones*** Event Milestone Payment for [...…***...…] Milestone Payment for [...…***...…] Initiation of the first Phase I Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase I Milestone”) [...…***...…] [...…***...…] Initiation of the first Phase II Clinical Trial for the Product in the Field for use against the applicable Selected Target [...…***...…] [...…***...…] Initiation of the first Phase III Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase III Milestone”) [...…***...…] [...…***...…] […***…] […***…] […***…] […***…] Merck shall notify Ablynx in writing within […***…] following the achievement of each milestone, and shall make the appropriate milestone payment within […***…] after the achievement of such milestone. 2 Ablynx agrees that when the Agreement is terminated with respect to any given Schedule 1.93 Target, (i) Ablynx shall not itself or with or through any Third Party make any use of any Program Specific Deliverables or Program Specific Results generated with respect to such terminated Schedule 1.93 Target, and (ii) Merck shall be under no obligation under Section 8.7.3(a) of the Agreement to assign to Ablynx Merck’s interest in […***…], in each case ((i) and (ii)) until the Agreement is terminated with respect to every Target Combination that either contains the terminated Schedule 1.93 Target (in case the terminated Schedule 1.93 Target was a Monospecific Target) or at least […***…] of the Targets that was comprised in part of such terminated Schedule 1.93 Target (in case the terminated Schedule 1.93 Target was a […***…] Target Combination or a Selected Multispecific Target Combination).

Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments: Proof of Concept MilestoneMilestone for […***…] Target Combinations* Event Milestone Payment [...[ …***... …] €3.5 million […***…] Research Milestones** Event Milestone Payment (if any) [...[ …***...…] €2.5 million [ …***…] […***…] [ …***…] […***…] […***…] CONFIDENTIAL TREATMENT REQUESTED. INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND MARKED WITH “[...***...]”. AN UNREDACTED VERSION OF THE DOCUMENT HAS ALSO BEEN FURNISHED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION AS REQUIRED BY RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. CONFIDENTIAL Research Milestones** Event Milestone Payment (if any) […***…] €2.5 million […***…] Development Milestones*** Event Milestone Payment for [...…***...…] Milestone Payment for [...…***...…] Initiation of the first Phase I Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase I Milestone”) [...…***...…] [...…***...…] Initiation of the first Phase II Clinical Trial for the Product in the Field for use against the applicable Selected Target [...…***...…] [...…***...…] Initiation of the first Phase III Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase III Milestone”) [...…***...…] [...…***...…] […***…] Merck shall notify Ablynx in writing within […***…] following the achievement of each milestone, and shall make the appropriate milestone payment within […***…] after the achievement of such milestone. 2 Ablynx agrees that when the Agreement is terminated with respect to any given Schedule 1.93 Target, (i) Ablynx shall not itself or with or through any Third Party make any use of any Program Specific Deliverables or Program Specific Results generated with respect to such terminated Schedule 1.93 Target, and (ii) Merck shall be under no obligation under Section 8.7.3(a) of the Agreement to assign to Ablynx Merck’s interest in […***…], in each case ((i) and (ii)) until the Agreement is terminated with respect to every Target Combination that either contains the terminated Schedule 1.93 Target (in case the terminated Schedule 1.93 Target was a Monospecific Target) or at least […***…] of the Targets that was comprised in part of such terminated Schedule 1.93 Target (in case the terminated Schedule 1.93 Target was a […***…] Target Combination or a Selected Multispecific Target Combination).

Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments: Proof of Concept Milestone* Event Milestone Payment [...***... ] €3.5 million [...***... ] […***…] Research Milestones** Event Milestone Payment (if any) [...***...] €2.5 million [...***...] CONFIDENTIAL TREATMENT REQUESTED. INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND MARKED WITH “[...***...]”. AN UNREDACTED VERSION OF THE DOCUMENT HAS ALSO BEEN FURNISHED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION AS REQUIRED BY RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. […***…] Development Milestones*** Event Milestone Payment for [...***...] Milestone Payment for [...***...] Initiation of the first Phase I Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase I Milestone”) [...***...] [...***...] Initiation of the first Phase II Clinical Trial for the Product in the Field for use against the applicable Selected Target [...***...] [...***...] Initiation of the first Phase III Clinical Trial for the Product in the Field for use against the applicable Selected Target (“Phase III Milestone”) [...***...] [...***...] [...***...] [...***...] [...***...] […***…] Merck shall notify Ablynx in writing within […***…] following the achievement of each milestone, and shall make the appropriate milestone payment within […***…] after the achievement of such milestone.