exhibit 10. 4 certain confidential portions of this exhibit, marked by brackets, were omitted because those portions are not material and would be competitively harmful to the company if publicly disclosed. master agreement between alnylam pharmaceuticals, inc. and regeneron pharmaceuticals, inc. dated as of april 8, 2019 table of contents article 1 definitionsarticle 2 collaboration management2. 1 joint steering committee2. 2 general provisions applicable to the jsc2. 3 sub - committees and working groups2. 4 discontinuation of participation on the jsc2. 5 alliance manager2. 6 license agreements and co - co collaboration agreementsarticle 3 development and regulatory3. 1 overview3. 2 collaboration targets ; commencement of programs3. 3 research term ; research term extension ; research term tail ; discontinuance of programs3. 4 development activities3. 5 development costs3. 6 information exchange3. 7 records and reports3. 8 material transferarticle 4 license agreements and co - co collaboration agreements4. 1 delivery of program data package4. 2 selection of a lead candidate4. 3 eye programs4. 4 liver programs and cns programs4. 5 entering into license agreements and co - co collaboration agreements4. 6 no encumbrances4. 7 license agreements and co - co collaboration agreements4. 8 c5 agreements4. 9 delay for merger control filing4. 10 [ * * * ] article 5 grant of rights5. 1 grants to regeneron5. 2 grants to alnylam5. 3 sublicenses5. 4 no implied license ; retention of rights5. 5 in - license agreements5. 6 confirmatory patent license5. 7 exclusivity5. 8 rights in bankruptcy5. 9 [ * * * ] article 6 payments6. 1 upfront payment6. 2 equity agreements6. 3 costs generally6. 4 regeneron research funding payments article 1 definitionsarticle 2 collaboration management2. 1 joint steering committee2. 2 general provisions applicable to the jsc2. 3 sub - committees and working groups2. 4 discontinuation of participation on the jsc2. 5 alliance manager2. 6 license agreements and co - co collaboration agreementsarticle 3 development and regulatory3. 1 overview3. 2 collaboration targets ; commencement of programs3. 3 research term ; research term extension ; research term tail ; discontinuance of programs3. 4 development activities3. 5 development