Company: RGBP
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001641172-25-011206
Chunk: 18

Company: Regen BioPharma Inc
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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in the case of in-kind consideration, at fair market value as monetary consideration) received
by Zander from sublicensees (excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives
payment pursuant to the terms and conditions of the Agreement).

Zander is obligated pay to The Company minimum annual
royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing
on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during
the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten
years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s
first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard
to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States
patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard
to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard
to that License IP is terminated.

The Agreement may be terminated by either party in
the event of a material breach by the other party.

On December 17, 2018 Regen Biopharma, Inc.(“ Licensor”), KCL Therapeutics, Inc. (“ Assignee”) and Zander Therapeutics, Inc. (“ Licensee”) entered into a LICENSE ASSIGNMENT
AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“ Assigned
Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights,
duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties, and Assignee agrees to assume such duties
and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“ Zander”),
KCL Therapeutics, Inc. (“ KCL”) and Regen Biopharma,