Exhibit 10.3


 


	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


NUMODA


 


PROJECT AGREEMENT FOR PROTOCOL #'s:
Lm-LLO-E7-15 and Lm-LLO-E7-07

(Two Trials — TRIAL 1 in India, and TRIAL 2 in the U.S.


 


	
        Protocol Number: Lm-LLO-E7-15 (conducted in India)

        Protocol Title: A Randomized, Active Therapy Controlled Phase
        2 Study to Assess the Safety and

        Efficacy of ADXS11-001 with and without Cisplatin as a 2nd Line Therapy for the Treatment of

        Recurrent Cervical Cancer.

	
        Protocol Number : Lm-LLO-E7-07 (conducted in the United States)

        Protocol Title: A Randomized, Single Blind, Placebo Controlled
        Phase 2 Study to Assess the Safety

        and Efficacy of Lovaxin C for the Treatment of Cervical Intraepithelial Neoplasia Grade 2/3.






 


Pursuant to the Master Agreement entered
into by Advaxis, Inc. ("ADVAXIS") and Numoda Corporation ("Numoda") on June 19, 2009 ("MA"), this
Project Agreement (PA) and attachments, including:


 


		A.	Description of Services — Project Specifications



 


		B.	Integration Assumptions; Systems, and Reporting Tools



 


		C.	Project Budget



 


		D.	Payment Schedule/Terms



 


		E.	Transfer of Regulatory Obligations



 


is entered into and is effective on the
Effective Date shown below. Only when specified in the MA, the parties agree that Numoda shall perform the Project Agreement in
accordance with and is subject to all the terms and conditions of the MA. The Project Agreement is Incorporated in and made a part
of the MA. In the event that a discrepancy exists between the terms of the MA and this PA, this PA shall supersede.


 


Effective Date: July 1, 2009


 





The parties agree as follows:


 





	 	1.	Scope of Work: Numoda agrees to provide services for this Study ("Project") as outlined in Attachment A (Description of Services — Project Specifications). The Parties understand Attachments A, B, C and D may need some adjustments after the date of signing this Project Agreement, in order to reflect any material differences between the protocol provided to Numoda and the final protocol. ADVAXIS transfers to Numoda the obligations listed in Attachment E in accordance with 21 CFR §312.52.


 


	 	2.	Payment: Payments will be made in accordance with Attachment D. Upon final reconciliation, additional services not included in the scope of work, that was mutually agreed to in writing; and having been done, will be billed to ADVAXIS, and any overpayment attributable to services not rendered or costs not incurred, will be refunded to ADVAXIS.


 


	 	3.	Term: The term of this Project Agreement shall commence on the Effective Date and shall continue until the Project as described in this Project Agreement is completed, unless this Project Agreement is terminated earlier in accordance with the MA.


 


	 	4.	Contact: Until further notice and for the purpose of this Project Agreement, Numoda's contact within ADVAXIS will be John Rothman, and ADVAXIS' contact within Numoda will be Mike Dempsey, the Project Controller.





 






    	 



    	 



    



 


	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 





	For ADVAXIS:	 	For Numoda Corporation:
	 	 	 	 	 
	Sign:	/s/ John Rothman	 	Sign:	/s/ Ann Vurimindi
	 	 	 	 	 
	Print:	John Rothman	 	Print:	Ann Vurimindi
	 	 	 	 	 
	Title:	EVP: Science & Operations	 	Title:	COO
	 	 	 	 	 
	Date:	July 8, 2009	 	Date:	July 8, 2009







 






    	 



    	 



    






 



	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


Attachment A:

DESCRIPTION OF SERVICES - PROJECT SPECIFICATIONS


 


	Overall Assumptions	 	India Trial	 	US Trial
	Protocol Number	 	Lm-LLO-E7-15	 	Lm-LLO-E7-07
	Study Phase	 	Phase II, India	 	Phase II, U.S.
	Compound	 	ADXS11-001	 	ADXS11-0011
	Number of Sites	 	12	 	20
	Number of Patients Screened	 	122	 	88
	Number of Patients Enrolled	 	110	 	80
	Number of Patients Completed	 	110	 	80
	Country	 	India Only	 	USA Only
	Startup (Number of Weeks) From signed PA to FPFV Recruitment (Number of Weeks) (Tria1 #2 totals 36 months for	 	13	 	8.5
	Treatment (Number of Weeks) Recruitment + Treatment)	 	13	 	26
	Closeout (Number of Weeks)	 	52	 	130
	 	 	13	 	8.5
	 	 	 	 	 
	Total Project Duration (Weeks)	 	91 (21 Mo's)	 	173 (40 Mo's)
	 	 	 	 	 
	GC Project Management Assumptions	 	 	 	 
	Number of Status Reports	 	Unlimited within the	 	Unlimited within the
	Number of Kick Off Meetings	 	scope	 	scope
	Number of Investigator Meetings	 	1	 	1
	Number of Newsletters	 	1	 	0
	Number of Teleconferences (1 Hour Calls)	 	21	 	36
	 	 	91	 	173
	 	 	 	 	 
	Monitoring Assumptions	 	 	 	 
	Qualification Visits	 	12	 	22
	Site Initiation Visits	 	12	 	20
	Interim Monitoring Visits	 	97	 	312
	Closeout Visits	 	12	 	20
	 	 	 	 	 
	Information/Data Management Assumptions	 	 	 	 
	Total Number of CRF Pages per Patient	 	100	 	90
	Number of Unique CRF Pages per Patient	 	20	 	22
	Total Number of CRF Pages	 	11,904	 	11,688
	 	 	Unlimited within the	 	Unlimited within the
	Total Number of Queries	 	scope	 	scope
	Total Number of Users	 	30	 	50
	Number of Interim Analyses	 	1	 	2
	Con Meds per Patient	 	10	 	10
	Diseases per Patient	 	10	 	10
	AE’s per Patient	 	10	 	10
	 	 	 	 	 
	Biostats Assumptions	 	 	 	 
	Statistical Analysis Plan	 	1	 	1
	Tables	 	24	 	24
	Listings	 	30	 	30
	Figures	 	6	 	6
	Final Study Report	 	1	 	1





 


	Safety Assumptions	 	 	 	 
	SAE’s	 	40	 	15
	Safety Database	 	1	 	1
	 	 	 	 	 
	 	 	 	 	 
	Estimated Timeline	 	 	 	 
	Contract Signed	 	Jul-09	 	Jul-09
	First Patient Enrolled	 	Oct-09	 	Sep-09
	Last Patient Enrolled	 	Jan-10	 	Mar-10
	Last Patient Out	 	Jan-11	 	Sep-12
	Final Clinical Study Report	 	Apr-11	 	Nov-12





 


Note: The Project Budget in Attachment
C is based on the specifications and integration assumptions listed here on Attachment A, and in Attachment B.


 






    	 



    	 



    



 




	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 





Attachment B:

INTEGRATION ASSUMPTIONS


 


	 	 	Numoda
	Integrations Assumptions	 	 
	Single Integrated Portal	 	1
	Custom Integration and Interoperability	 	3
	Ongoing Consolidation & Reconciliation	 	1
	Clinical Project Accounting, Contracting (Vendor Negotiation, Documentation, Monitoring)	 	1
	Systems and Reporting Tools	 	 
	Start-up & Regulatory Administration (4 Tool Sets)	 	1
	 	Project Timelines	 	 
	 	Site Launch Logistics System (SLLS)	 	 
	 	Communication Plan	 	 
	 	Roles and Responsibilities	 	 
	Clinical Project Accounting Systems (3 Tool Sets)	 	1
	 	Key Value Tracking	 	 
	 	Percentage of Completion Reporting	 	 
	 	CPA Procedures	 	 
	Planning, Procurement, Contracting (4 Tool Sets)	 	1
	 	Vendor Contract Status	 	 
	 	Business Analysis Report	 	 
	 	Key Value Points	 	 
	 	Business Integration	 	 
	Screening and Enrollment Reporting Tools (9 Tool Sets)	 	1
	 	Executive Summary	 	 
	 	Enrollment Status	 	 
	 	Subject Status	 	 
	 	Early Termination	 	 
	 	Screen Failure	 	 
	 	Enrollment by Site	 	 
	 	Patient Source Summary	 	 
	 	Site Info	 	 
	 	Team Contact Info	 	 
	Document Management System (7 Tool Sets)	 	1
	 	Protocol and Amendments	 	 
	 	Newsletters	 	 
	 	Training Materials	 	 
	 	Project Management	 	 
	 	Waivers	 	 
	 	Upload	 	 
	 	Remove File	 	 
	Monitoring Systems (7 Tool Sets)	 	1
	 	Data View	 	 
	 	Monitoring Summary	 	 
	 	Query Tracking	 	 
	 	Comments	 	 
	 	Supplies Status For Monitors	 	 
	 	Sync Status Report	 	 
	 	Trip Report Management	 	 
	Data Management and Integrations (17 Tool Sets)	 	1
	 	Data View	 	 
	 	IVR Reconciliation	 	 
	 	Data Extractor	 	 
	 	Edit Checks	 	 
	 	Query Frequency	 	 
	 	Edit Check Frequency	 	 
	 	Query Status Summary	 	 
	 	Coding System	 	 
	 	PI Sign-Off	 	 
	 	AE/Cmed/Med HX Summary	 	 
	 	Various Lab Reconciliation Tools (7)	 	 
	Early Safety Signal Detection System (5 Tool Sets)	 	1
	 	AE/SAE	 	 
	 	Subject Safety Reports	 	 
	 	Subject Status	 	 
	 	Early Terminators	 	 
	 	Site Info	 	 
	Supplies Management System (3 Tool Sets)	 	1
	 	Site Supplies Status	 	 
	 	Site Transaction History	 	 
	 	Site Supplies Summary	 	 
	Project Management Administration Tools (11 Tool Sets)	 	1
	 	User Management	 	 
	 	Login History	 	 
	 	Failed Logins	 	 
	 	Database SQL Tools	 	 
	 	IVR Database View	 	 
	 	Team Contact Management	 	 
	 	Message System Management	 	 
	 	Shipment Address Management	 	 
	 	Document Group Management	 	 
	 	Trip Report Administration	 	 
	 	IVRS Administration	 	 


 






    	 



    	 



    
 




	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


Attachment C:


 


	 	 	India Trial	 	 	US Trial	 
	Standardized Professional Fees	 	 	 	 	 	 	 	 
	Start Up, Regulatory & Sites Management	 	$	122,362	 	 	$	250,604	 
	Monitoring	 	$	254,613	 	 	$	1,268,014	 
	Project Management	 	$	151,469	 	 	$	396,950	 
	Data Management	 	$	226,063	 	 	$	289,759	 
	Safety, Medical & Scientific Services	 	$	79,898	 	 	$	183,446	 
	Biostatistics	 	$	145,460	 	 	$	167,804	 
	Medical Writing	 	$	45,000	 	 	$	60,000	 
	Total Standardized Professional Fees	 	$	1,024,885	 	 	$	2,616,577	 
	Efficiency Credit	 	$	(96,848	)	 	 	 	 
	sub-total	 	$	928,037	 	 	 	 	 
	Products	 	 	 	 	 	 	 	 
	Role-Based Portals Connecting to Interoperable Neural Network	 	$	30,457	 	 	$	55,404	 
	All Custom Complete Integration and Interoperability	 	$	45,943	 	 	$	83,323	 
	Ongoing Consolidation and Reconciliation	 	$	21,003	 	 	$	37,493	 
	Clinical Project Accounting Vendor Management & Financial Reconciliation	 	$	55,498	 	 	$	98,046	 
	Screening and Enrollment System	 	$	16,858	 	 	$	25,359	 
	Site Compliance Tools	 	$	34,659	 	 	$	55,548	 
	Real Time Reporting Tools (with Document Management System)	 	$	27,202	 	 	$	57,072	 
	Integrated, Web-Based Monitoring system (with Centralized Trip Reports)	 	$	28,945	 	 	$	68,814	 
	Early Safety Signal Detection System	 	$	32,053	 	 	$	57,294	 
	Clinical Project Accounting System	 	$	35,819	 	 	$	90,508	 
	Interoperable System for Supplies and Re-Supply Logistics Management	 	$	19,192	 	 	$	33,353	 
	IVRS System	 	$	60,264	 	 	$	122,963	 
	IVRS Diary Activities	 	$	-	 	 	$	-	 
	Total Products	 	$	407,891	 	 	$	783,176	 
	Efficiency Credit	 	$	(113,749	)	 	 	 	 
	sub-total	 	$	294,142	 	 	 	 	 
	Pass-Through Expenses (Estimated)	 	 	 	 	 	 	 	 
	EDC	 	 	Free	 	 	 	Free	 
	Investigator Fees	 	$	496,650	 	 	$	1,002,560	 
	Investigator Meeting Organization	 	$	21,000	 	 	$	21,000	 
	Investigator Meeting Travel	 	$	47,565	 	 	$	49,350	 
	Monitor Travel	 	$	84,058	 	 	$	370,448	 
	Travel to Training Meetings	 	$	2,310	 	 	$	34,150	 
	Travel to Client Meetings	 	$	1,050	 	 	$	1,050	 
	Travel for Audit Visits	 	$	1,260	 	 	$	2,100	 
	Meetings and Teleconferences	 	$	4,778	 	 	$	18,199	 
	IVRS Expenses	 	$	22,680	 	 	$	57,456	 
	Printing, Shipping and Other	 	$	7,749	 	 	$	18,900	 
	Regulatory and EC Fees	 	$	6,300	 	 	$	10,500	 
	Translation	 	$	12,600	 	 	$	55,260	 
	Lab Fees	 	$	207,900	 	 	$	533,845	 
	Drug Supply	 	$	-	 	 	$	124,960	 
	Specialty Lab/ECG	 	$	103,950	 	 	$	-	 
	Central Pathologists	 	$	-	 	 	$	25,200	 
	Other	 	$	-	 	 	$	15,750	 
	Total Pass-Through Expenses	 	$	1,019,850	 	 	$	2,340,728	 
	Total Project Cost	 	$	2,242,029	 	 	$	5,740,480	 
	Less:  Numoda Investment	 	$	(250,000	)	 	$	(100,000	)
	 	 	 	 	 	 	 	 	 
	Net Total Due from Advaxis	 	$	1,992,029	 	 	$	5,640,480	 



 






    	 



    	 



    



 


	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


	Trial Pricing - Advaxis (Two Trial
 Scenario)	 	INDIA Trial	 	 	Efficiencies
 from US
 Trial	 	 	Discounted
 India Trial	 	 	US Trial	 	 	Grand Total-

    Both Trials	 
	Budget Summary	 	Numoda

    Contract

    Value	 	 	Numoda

    Contract

    Value	 	 	Numoda

    Contract

    Value	 	 	Numoda

    Contract

    Value	 	 	Numoda

    Contract

    Value	 
	NUMODA GENERAL CONTRACTOR AND INTEGRATION SERVICES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Role-Based Portals Connecting to Interoperable Neural
    Network	 	$	30,457	 	 	$	(9,359	)	 	$	21,098	 	 	$	55,404	 	 	$	76,502	 
	All Custom Complete Integration and Interoperability	 	$	45,943	 	 	$	(12,673	)	 	$	33,270	 	 	$	63,323	 	 	$	116,593	 
	Ongoing Consolidation and Reconciliation	 	$	21,003	 	 	$	(6,376	)	 	$	14,627	 	 	$	37,493	 	 	$	52,120	 
	Planning, Procurement & Contracting	 	$	27,748	 	 	$	(8,753	)	 	$	18,995	 	 	$	47,552	 	 	$	56,547	 
	Clinical Project Accounting Vendor Management, Documentation, Monitoring
    & Financial Reconciliation	 	$	27,748	 	 	$	(9,073	)	 	$	18,675	 	 	$	50,494	 	 	$	69,169	 
	CLINICAL PROFESSIONAL SERVICES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Start Up, Regulatory & Site Management	 	$	122,362	 	 	$	0	 	 	$	122,362	 	 	$	250,604	 	 	$	372,966	 
	Monitoring	 	$	254,613	 	 	$	0	 	 	$	254,613	 	 	$	1,288,014	 	 	$	1,522,627	 
	Project Management	 	$	151,489	 	 	$	(49,908	)	 	$	101,581	 	 	$	396,950	 	 	$	498,531	 
	Data Management	 	$	226,063	 	 	$	(46,940	)	 	$	179,123	 	 	$	289,759	 	 	$	468,882	 
	Safety, Medical & Scientific Services	 	$	79,898	 	 	$	0	 	 	$	79,898	 	 	$	183,446	 	 	$	283,344	 
	Biostatistics & Medical Writing	 	$	190,460	 	 	$	0	 	 	$	190,460	 	 	$	227,804	 	 	$	418,264	 
	SUBTOTAL PROFESSIONAL FEES	 	$	1,177,784	 	 	$	(143,082	)	 	$	1,034,702	 	 	$	2,890,843	 	 	$	3,935,545	 



 


	Budget Summary	 	Numoda
 Contract

    Value	 	 	Numoda
 Contract

    Value	 	 	Numoda
 Contract

    Value	 	 	Numoda
 Contract

    Value	 	 	Numoda
 Contract

    Value	 
	NUMODA SYSTEMS AND REPORTING TOOLS:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Screening and Enrollment systems	 	$	16,858	 	 	$	(3,804	)	 	$	13,054	 	 	$	25,359	 	 	$	38,413	 
	Site compliance Tools	 	$	34,659	 	 	$	(7,554	)	 	$	27,105	 	 	$	55,546	 	 	$	82,651	 
	Real Time Reporting Tools (with Document Management system)	 	$	27,202	 	 	$	(7,762	)	 	$	19,440	 	 	$	57,072	 	 	$	76,512	 
	Integrated, Web-Based Monitoring system (with Centralized Trip Reports)	 	$	28,945	 	 	$	(9,087	)	 	$	19,858	 	 	$	66,814	 	 	$	86,672	 
	Early Safety Signal Detection System	 	$	32,053	 	 	$	(7,094	)	 	$	24,959	 	 	$	57,294	 	 	$	82,253	 
	Clinical Project Accounting System	 	$	35,819	 	 	$	(10,955	)	 	$	24,864	 	 	$	90,508	 	 	$	115,372	 
	Interoperable system for Supplies and Re-Supply Logistics Management	 	$	19,192	 	 	$	(4,536	)	 	$	14,656	 	 	$	33,353	 	 	$	48,009	 
	IVRS System	 	$	60,264	 	 	$	(16,723	)	 	$	43,541	 	 	$	122,963	 	 	$	156,504	 
	IVRS Diary Activities	 	$	0	 	 	$	0	 	 	$	0	 	 	$	0	 	 	$	0	 
	SUBTOTAL NUMODA SYSTEMS AND REPORTING TOOLS	 	$	254,992	 	 	$	(67,515	)	 	$	187,477	 	 	$	508,909	 	 	$	686,386	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL GENERAL CONTRACTOR SERVICES, INTEGRATIONS,

    PROFESSIONAL FEES, AND SYSTEMS AND TOOLS	 	$	1,432,776	 	 	$	(210,596	)	 	$	1,222,180	 	 	$	3,399,752	 	 	$	4,621,932	 





 


	Budget Summary	 	Numoda
 Contract
 Value	 	 	Numoda
 Contract
 Value	 	 	Numoda
 Contract
 Value	 	 	Numoda
 Contract
 Value	 	 	Numoda
 Contract
 Value	 
	VALUE ADDED SUPPLIER ITEMS (Estimated)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	EDC	 	$	0	 	 	$	0	 	 	$	0	 	 	$	0	 	 	$	0	 
	Investigator Fees	 	$	496,650	 	 	$	0	 	 	$	496,650	 	 	$	1,002,560	 	 	$	1,499,210	 
	Investigator Meeting Organization	 	$	21,000	 	 	$	0	 	 	$	21,000	 	 	$	21,000	 	 	$	42,000	 
	Investigator Meeting Travel	 	$	47,665	 	 	$	0	 	 	$	47,565	 	 	$	49,350	 	 	$	96,915	 
	Monitor Travel	 	$	84,058	 	 	$	0	 	 	$	84,058	 	 	$	370,448	 	 	$	454,506	 
	Travel to Training Meetings	 	$	2,310	 	 	$	0	 	 	$	2,310	 	 	$	34,150	 	 	$	36,460	 
	Travel to Client Meetings	 	$	1,050	 	 	$	0	 	 	$	1,050	 	 	$	1,050	 	 	$	2,100	 
	Travel for Audit Visits	 	$	1,260	 	 	$	0	 	 	$	1,260	 	 	$	2,100	 	 	$	3,360	 
	Meetings and Teleconferences	 	$	4,778	 	 	$	0	 	 	$	4,778	 	 	$	18,199	 	 	$	22,977	 
	IVRS Expenses	 	$	22,680	 	 	$	0	 	 	$	22,680	 	 	$	57,456	 	 	$	80,136	 
	Printing, Shipping and Other	 	$	7,749	 	 	$	0	 	 	$	7,749	 	 	$	18,900	 	 	$	26,649	 
	Regulatory and EC Fees	 	$	6,300	 	 	$	0	 	 	$	6,300	 	 	$	10,500	 	 	$	16,800	 
	Translation	 	$	12,600	 	 	$	0	 	 	$	12,600	 	 	$	55,260	 	 	$	67,850	 
	Lab Fees	 	$	207,900	 	 	$	0	 	 	$	207,900	 	 	$	533,845	 	 	$	741,745	 
	Drug Supply	 	$	0	 	 	$	0	 	 	$	0	 	 	$	124,960	 	 	$	124,960	 
	Specialty Lab/ECG	 	$	103,850	 	 	$	0	 	 	$	103,950	 	 	$	0	 	 	$	103,950	 
	Central Pathologists	 	$	0	 	 	$	0	 	 	$	0	 	 	$	25,200	 	 	$	25,200	 
	Other	 	$	0	 	 	$	0	 	 	$	0	 	 	$	15,750	 	 	$	15,760	 
	TOTAL ESTIMATED PASS THROUGH COSTS	 	$	1,019,850	 	 	$	0	 	 	$	1,019,850	 	 	$	2,340,728	 	 	$	3,360,578	 
	TOTAL PROJECT BUDGET	 	$	2,452,626	 	 	$	(210,597	)	 	$	2,242,029	 	 	$	5,740,480	 	 	$	7,982,509	 
	LESS:  NUMODA INVESTMENT	 	$	(250,000	)	 	$	0	 	 	$	(250,000	)	 	$	(100,000	)	 	$	(350,000	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	NET TOTAL DUE from ADVAXIS	 	$	2,202,626	 	 	$	(210,597	)	 	$	1,992,029	 	 	$	5,640,480	 	 	$	7,632,509	 
	 	 	 	 	 	 	 	-9.56	%	 	 	-10.57	%	 	 	 	 	 	 	 	 



 






    	 



    	 



    



 



	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


Notes TO PROJECT BUDGET:


		(A)	Budget for Trial 1 includes an Efficiency Credit of $210,597 that is given with the understanding that Numoda will be providing
services to Advaxis for two trials, as long as Numoda's work on the first Trial has been satisfactory. The actual, final scope
of the second trial is yet to be determined, therefore prices for Trial 2 shown above, may be adjusted, if the scope is changed
..



 


		(B)	Budget for Trial 1 is based on the protocol dated May 30, 2009. Budget for Trial 2 is based on protocol dated December 3, 2008.



 


		(C)	Per the Master Agreement, paragraph 7.0 Change Orders, it is understood that Advaxis may seek to materially change the scope
of Services and/or project assumptions agreed upon in the Project Agreement for either trial, such as can occur when there are
amendments to the Protocol. Both parties agree to negotiate in good faith to reach an agreement on a budget and assumptions for
such changes.



 


		(D)	The $350,000 Numoda Investment (which includes the $150,000 Investment committed in previously executed LOI documents between
the parties) is payable to Numoda in Advaxis common stock, based on the average of the five (5) days stock price, prior to the
execution of a Stock Purchase Agreement.



 






    	 



    	 



    
  



	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


Attachment D:

PAYMENT SCHEDULE


 





	Start-Up Payment (July 15, 2009)	 	$	212,029	 








 





Trial 1 Lm-LLO-E7-15 (110 patients/12
sites, in India)


 


		 	Easy Level Monthly Payment Plan assumes 20 monthly installments of $89,000 each	 	 		 
	2009 – 4 months	 	 	 	$	356,000	 
	 	 	Beginning Sept. 2009 thru April, 2011	 	 	 	 
	2010 – 12 months	 	 	 	$	1,068,000	 
	 	 		 	 	 	 
	2011 – 4 months	 		 	$	356,000	 
	Sub-total Monthly Payments (20)	 		 	$	1,780,000	 
	 	 		 	 	 	 
	TOTAL TRIAL 1 -India	 		 	$	1,992,029	 
	 	 		 	 	 	 
	Start-Up Payment (August 15, 2009)	 		 	$	564,480	 



 


Trial 2 Lm-LLO-E7-07 (80 patients/20
sites, in USA)


 


	2009 – 3 Months	 	 		 	 	$	423,000	 
	2010 – 12 months	 	 	Easy
Level Monthly Payment Plan assumes 36 monthly installments of $141,000 each 
	 	 	$	1,692,000	 
	 	 	 	 	 	 	 	 	 
	2011 – 12 months	 	 	Beginning Sept, 2009 thru August, 2012	 	 	$	1,692,000	 
	 	 	 		 	 	 	 	 
	2012 – 9 months	 	 		 	 	$	1,269,000	 
	Sub-total Monthly Payments (36)	 	 		 	 	$	5,076,000	 
	 	 	 		 	 	 	 	 
	TOTAL TRIAL 2 – US	 	 		 	 	$	5,640,480	 



 


Notes to Payment Schedule:


		(a)	Monthly Payments are due an the 15th of each month.



		(b)	Numoda shall mail and/or email invoices to Advaxis per Advaxis' instructions.



		(c)	Advaxis shall make all payments payable to Numoda Corporation, by wire transfer, EFT, or ACH. Advaxis shall send funds to Harleysville
National Bank, as follows:



 


	Bank: Harleysville National Bank	 
	ABA Number	- xxxxxxxxx
	Account Name	- Numoda Corporation
	Account Number	- xxxxxxxxxx


 






    	 



    	 



    
 


	ADVAXIS, INC.	PROTOCOL NUMBER:  Lm-LLO-E7-07 & 15, Two Trials


 


Attachment E:

Transfer of Regulatory Obligations


 


1.0 Numode will retain records and reports associated with the
Project in accordance with 21 CFR 312.57(b)


 


2.0 Numoda will conduct the services set forth in this Project
Agreement in accordance with Clinical Protocols, Lm-LLO-E7-15 and Lm-LLO-E7-07.