Company: MBIO
Filing Date: 2025-02-13
Form Type: 424B3
Source: 0001104659-25-013030
Chunk: 4

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-13
Form: 424B3
Chunk 4
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 the Company and the Escrow Agent a Rejection Notice, and (ii) at least ninety percent (90%) of the Furniture Items and at
least seventy-five percent (75%) of all FF&E items (including the Furniture Items) listed in the Sale/Surrender Agreement are in
Acceptable Condition, the Purchase Price shall be reduced proportionally. Within fifteen (15) business days following the expiration
of the Inspection Period (the “Negotiation Period”), the Purchase Price reduction calculated pursuant to the Sale/Surrender
Agreement will be confirmed by AbbVie and the Company executing and delivering a written agreement (an “Amended Bill of Sale Agreement”)
and giving Escrow Agent a written notice signed by both parties enclosing a copy of such Amended Bill (a “Joint Settlement Notice”).

If (i)
AbbVie gives the Company and Escrow Agent a Rejection Notice, and (ii) less than ninety percent (90%) of the Furniture Items or less
than seventy-five percent (75%) of all FF&E items (including the Furniture Items) listed in the Sale/Surrender Agreement are in Acceptable
Condition, AbbVie and the Company shall have until the expiration of the Negotiation Period to execute and deliver an Amended Bill of
Sale Agreement and to give Escrow Agent a Joint Settlement Notice.

If AbbVie
gives the Company and Escrow Agent a Rejection Notice and thereafter, both parties do not give Escrow Agent a Joint Settlement Notice
within the Negotiation Period, then either party is entitled to terminate the Sale/Surrender Agreement at any time thereafter by giving
a written termination notice to Escrow Agent before the Escrow Agent receives a Joint Settlement Notice. In that event, (i) the Company
will retain possession of all FF&E and the Warehouse Items, (ii) AbbVie shall vacate the Premises without further claims to the FF&E
or the Warehouse Items, (iii) the Sale/Surrender Agreement will become null and void and (iv) the parties shall have no further obligations
under the Sale/Surrender Agreement, except that either party will be entitled to pursue any legal or equitable remedies that may be available
to such party for any prior breach by the other party of its obligations pursuant to the Sale/Surrender Agreement.

Escrow Agreement

In connection with the entrance into the Sale/Surrender Agreement, the Company entered into an Escrow Agreement, dated February 10, 2025 (the “