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Exhibit 10.1
 
SECOND AMENDMENT TO COLLABORATION AGREEMENT

This Second Amendment (“Amendment”) to Collaboration Agreement dated as of
October 10, 2014, as amended on August 4, 2015  (the “Agreement”) is made and
entered into as of  March 31, 2016 (the "Amendment Date") by and between
DISCOVERY LABORATORIES, INC., a corporation organized and existing under the
laws of the state of Delaware having its principal place of business at 2600
Kelly Road, Suite 100, Warrington, PA 18976 USA ("Discovery Labs”), and BATTELLE
MEMORIAL INSTITUTE, through its Corporate Operations, a corporation organized
and existing under the laws of the state of Ohio having its principal place of
business at 505 King Avenue, Columbus, Ohio 43201-2693, USA ("Battelle”).

RECITALS:

WHEREAS, in accordance with the terms of the Agreement, Battelle and Discovery
Labs have agreed on the detailed Project Plan for implementation of the Stage 2
and Stage 3 activities contemplated by the Agreement, together with related
costs, which shall be shared as provided in Section 3(B) of the Agreement; and

WHEREAS, the parties wish to implement certain additional activities under, and
optimize the development schedule provided in, the Project Plan, among other
things, to reallocate resources and re-align the Milestone Date (as defined in
the Agreement) with the anticipated completion date for Discovery Lab’s
AEROSURF® phase 2b clinical trial.

NOW THEREFORE, IN CONSIDERATION OF THE COVENANTS AND PROMISES CONTAINED IN THIS
AGREEMENT, THE PARTIES AGREE AS FOLLOWS WITH THE INTENT TO BE LEGALLY BOUND
HEREBY:

1. Capitalized terms used in this Amendment and not otherwise defined shall have
the meanings ascribed to such terms as set forth in the Agreement.

2. In accordance with Section 3(B)(i) of the Agreement, the Project Plan Fixed
Cost is revised to equal an amount between (a) Eleven Million, One Hundred and
Eighty-One Thousand Dollars ($11,181,000) and (b) up to Twelve Million, Two
Hundred Sixty-One Thousand, One Hundred Dollars ($12,261,100); and, accordingly,
the Discovery Labs Fixed Fee as of the Amendment Date remains 50% of the Project
Plan Fixed Cost, or an amount  between (a) Five Million, Five Hundred Ninety
Thousand, Five Hundred Dollars ($5,590,500) and (b) up to (b) Six Million, One
Hundred Thirty Thousand, Five Hundred Fifty  Dollars ($6,130,550) (in each case,
representing 50% of the revised Project Plan Fixed Cost).

3. The reference to “July 15, 2016" in the defined term "Milestone Date" set
forth in the first sentence of Section 3(E)(ii) of the Agreement is revised to
"November 15, 2016."

[Signatures appear on the next page]
 

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2
Except as amended herein, the remaining terms and conditions of the Agreement
shall remain in full force and effect.  This Amendment confirms an agreement
between the Parties with respect to the subject matter hereof and is a material
part of the consideration stated in the Agreement and the mutual promises made
in connection therewith.  The provisions of Section 9(H) - (K) of the Agreement
shall apply to this Amendment mutatis mutandi.

In Witness Whereof, the Parties have duly executed this Amendment as of the
Amendment Date. 

Battelle Memorial Institute
     
Corporate Operations
 
Discovery Laboratories, Inc.
                   
By:
 /s/ Ken Zeller
 
By:
 /s/ Mary B. Templeton
Name:
Ken Zeller
 
Name:
Mary B. Templeton
Title:
Contracting Officer
 
Title:
SVP, General Counsel & Corporate Secretary

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