Exhibit
10.1





 


Execution
Version


 


VOTING
AND SUPPORT AGREEMENT 


 


THIS
VOTING AND SUPPORT AGREEMENT (this “Agreement”) is made and entered into as of October 18, 2022, by and among
Advaxis, Inc., a Delaware corporation (“Parent”); and Israel Biotech Fund I, L.P., a Cayman Islands Exempted Limited
Partnership (“Stockholder”).


 


WHEREAS,
concurrently with the execution and delivery of this Agreement, Parent, Doe Merger Sub, Inc., a Delaware corporation and a wholly owned
Subsidiary of Parent (“Merger Sub”), and Ayala Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
are entering into an Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”), providing,
among other things, for the merger of Merger Sub with and into the Company, with the Company being the surviving corporation (the “Merger”);
and


 


WHEREAS,
as a condition of and inducement to Parent’s willingness to enter into the Merger Agreement, Parent and Merger Sub have required
that Stockholder enter into this Agreement.


 


NOW,
THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this
Agreement and in the Merger Agreement, and intending to be legally bound hereby, the parties hereto agree as follows:


 


1.
Certain Definitions. For the purposes of this Agreement, capitalized terms used but not otherwise defined in this Agreement have
the meanings ascribed to them in the Merger Agreement, and other capitalized terms used herein have the respective meanings ascribed
to them in this Section 1.


 


“Additional
Owned Shares” means all shares of Company Common Stock and any other equity securities of the Company which are beneficially
owned by Stockholder and are acquired after the date hereof and prior to the Expiration Date.


 


“Affiliate”
has the meaning set forth in the Merger Agreement; provided, however, that the Company shall not be deemed to be an Affiliate
of Stockholder.


 


“beneficial
ownership” (and related terms such as “beneficially owned” or “beneficial owner”) has the meaning set
forth in Rule 13d-3 under the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance
with the provisions of such rule (in each case, irrespective of whether or not such rule is actually applicable in such circumstance).


 


“Covered
Shares” means the Owned Shares and Additional Owned Shares.


 


“Expiration
Date” has the meaning set forth in Section 6.


 


“knowledge
of Stockholder” means, for any Stockholder that is an individual, the actual knowledge of such Stockholder and, for any Stockholder
that is not an individual, the actual knowledge of any officer of Stockholder.


 




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“Liens”
has the meaning set forth in Section 5(a).


 


“Owned
Shares” means all shares of Company Common Stock and any other equity securities of the Company which are beneficially owned
by Stockholder as of the date hereof, as set forth on Schedule I.


 


“Permitted
Transfer” has the meaning set forth in Section 3(a).


 


“Representatives”
means, with respect to a Person, all of the officers, directors, employees, consultants, legal representatives, agents, advisors, auditors,
investment bankers, and other advisors, agents or representatives of such Person.


 


“Transfer”
means, with respect to a security, the transfer, pledge, hypothecation, encumbrance, assignment or other disposition (whether by sale,
merger, consolidation, liquidation, dissolution, dividend, distribution or otherwise, and including the creation of any Liens) of such
security or the beneficial ownership thereof, the offer to make such a transfer or other disposition, and each option, agreement, arrangement
or understanding, whether or not in writing, to effect any of the foregoing. As a verb, “Transfer” has a correlative
meaning.


 


2.
Agreement to Vote. Prior to the Expiration Date, at the Company Stockholders Meeting, however called, or at any adjournment or
postponement thereof, or in any other circumstance in which the vote, consent or other approval of the stockholders of the Company is
sought, Stockholder irrevocably and unconditionally agrees that it shall, and shall cause any other holder of record of Stockholder’s
Covered Shares to, (a) appear at each such meeting or otherwise cause all Covered Shares to be counted as present thereat for purposes
of calculating a quorum and (b) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to
be executed and delivered) covering, all Covered Shares:


 


(i)
in favor of the adoption of the Merger Agreement and the approval of the Merger and the other transactions contemplated by the Merger
Agreement, and the execution and delivery by the Company of the Merger Agreement and the approval of the terms thereof and each of the
other actions contemplated by the Merger Agreement and this Agreement;


 


(ii)
in favor of any adjournment or postponement recommended by the Company with respect to the Company Stockholders Meeting to the extent
permitted or required pursuant to Section 5.5(a) of the Merger Agreement;


 


(iii)
against any Company Acquisition Proposal, except as expressly permitted by Section 5.2 of the Merger Agreement;


 


(iv)
against any merger agreement or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale of substantial
assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by the Company, in each case except as expressly
permitted by Section 5.2 of the Merger Agreement; and


 




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(v)
against any proposal, action or agreement that would reasonably be expected to (A) materially delay or postpone, prevent or otherwise
impair the Merger or the other transactions contemplated by the Merger Agreement, (B) result in a breach in any respect of any covenant,
representation, warranty or any other obligation or agreement of the Company under the Merger Agreement, (C) result in a breach in any
respect of any covenant, representation, warranty or any other obligation or agreement of Stockholder under this Agreement, (D) result
in any of the conditions set forth in Section 6 of the Merger Agreement not being fulfilled or (E) except as expressly contemplated by
the Merger Agreement, change in any manner the dividend policy or capitalization of, including the voting rights of any class of capital
stock of, the Company. Stockholder shall not commit or agree to take any action inconsistent with the foregoing.


 


3.
No Disposition or Solicitation.


 


(a)
No Disposition or Adverse Act. Stockholder hereby covenants and agrees that, except as contemplated by this Agreement and the
Merger Agreement, prior to the Expiration Date, Stockholder shall not (i) offer to Transfer, Transfer or consent to any Transfer of any
or all of the Covered Shares or any interest therein without the prior written consent of Parent, (ii) enter into any contract, option
or other agreement or understanding with respect to any Transfer of any or all Covered Shares or any interest therein, (iii) grant any
proxy, power-of-attorney or other authorization or consent in or with respect to any or all of the Covered Shares (other than a proxy
card or broker instructions directing that the Covered Shares be voted in accordance with Section 2), (iv) deposit any or all of the
Covered Shares into a voting trust or enter into a voting agreement or arrangement with respect to any or all of the Covered Shares or
(v) take any other action that would make any representation or warranty of Stockholder contained herein untrue or incorrect or in any
way restrict, limit or interfere with the performance of Stockholder’s obligations hereunder or the transactions contemplated hereby
or by the Merger Agreement. Notwithstanding the foregoing, a Stockholder may Transfer Covered Shares (i) to effect a “cashless
exercise” to pay the exercise price of Company Options or to satisfy such Stockholder’s Tax withholding obligations in connection
with such exercise, as permitted pursuant to the terms of any of the Company Equity Awards, (ii) to effect a “net settlement”
of Company RSUs to satisfy such Stockholder’s Tax withholding obligations upon the settlement of a Company RSU, as permitted pursuant
to the terms of any of the Company Equity Awards, (iii), in the case of a Stockholder that is not an individual, to an Affiliate of such
Stockholder and (iv), in the case of a Stockholder that is an individual, (A) to any member of such Stockholder’s immediate family,
(B) to a trust for the sole benefit of such Stockholder or any member of such Stockholder’s immediate family (i.e., spouse, lineal
descendant or antecedent, brother or sister, adopted child or grandchild or the spouse of any child, adopted child, grandchild or adopted
grandchild), (C) upon the death of such Stockholder, and (D) by will, divorce decree, intestacy or other similar law; provided that
any such Transfer referenced in clauses (iii) - (iv) shall be permitted only if the applicable transferee agrees in writing to be bound
by the terms of this Agreement (a “Permitted Transfer”). Any attempted Transfer of Covered Shares or any interest
therein in violation of this Section 3(a) shall be null and void ab initio.


 




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(b)
Non-Solicitation. Prior to the Expiration Date, Stockholder hereby agrees that Stockholder shall not, and shall use its reasonable
best efforts to cause its controlled Affiliates and Representatives not to, directly or indirectly:


 


(i)
solicit, initiate, induce, encourage or facilitate, any inquiries or the making of any proposal or offer that constitutes, or could reasonably
be expected to lead to, a Company Acquisition Proposal;


 


(ii)
participate in any discussions or negotiations or cooperate in any way with any Person regarding any proposal or offer the consummation
of which would constitute a Company Acquisition Proposal;


 


(iii)
provide any non-public information or data concerning the Company or any of its Subsidiaries to any Person in connection with any proposal
the consummation of which would constitute a Company Acquisition Proposal or for the purpose of soliciting, initiating, inducing, encouraging
or facilitating a Company Acquisition Proposal;


 


(iv)
enter into any binding or nonbinding letter of intent, term sheet, memorandum of understanding, merger agreement, acquisition agreement,
agreement in principle, option agreement, joint venture agreement, partnership agreement, lease agreement or other similar agreement
with respect to a Company Acquisition Proposal or any proposal or offer that could reasonably be expected to lead to a Company Acquisition
Proposal;


 


(v)
adopt, approve or recommend or make any public statement approving or recommending any inquiry, proposal or offer that constitutes, or
could reasonably be expected to lead to, a Company Acquisition Proposal (including by approving any transaction, or approving any Person
becoming an “interested stockholder,” for purposes of Section 203 of the DGCL); take any action or exempt any Person (other
than Parent and its Subsidiaries) from the restriction on “business combinations” or any similar provision contained in applicable
takeover laws or the Company’s organizational or other governing documents;


 


(vi)
take any action that could reasonably be expected to lead to a Company Acquisition Proposal except as expressly permitted by Section
5.2 of the Merger Agreement; or


 


(vii)
resolve, publicly propose or agree to do any of the foregoing.


 


(c)
Notification. Prior to the Company Stockholder Meeting, Stockholder shall promptly (and, in any event, within 24 hours) notify
Parent (orally and in writing) if (i) any written or other inquiries, proposals or offers with respect to a Company Acquisition Proposal
or any inquiries, proposals, offers or requests for information relating to or that could reasonably be expected to lead to a Company
Acquisition Proposal are received by Stockholder, (ii) any non-public information is requested in connection with any Company Acquisition
Proposal from the Company or (iii) any discussions or negotiation with respect to or that could reasonably be expected to lead to a Company
Acquisition Proposal are sought to be initiated or continued with the Company, indicating, in connection with such notice, the name of
such Person and the material terms and conditions of any proposals or offers (including, if applicable, copies of any written requests,
proposals or offers, including proposed agreements and other material written communications or, if oral, a summary of the material terms
and conditions of such proposal or offer), and thereafter shall keep Parent informed, on a current basis (and in any event within 24
hours), of the status and terms of any such proposals or offers (including any amendments thereto) and the status of any such discussions
or negotiations, including by promptly providing copies of any additional requests, proposals or offers, including any drafts of proposed
agreements and any amendments thereto and other information set forth above. Promptly following the execution and delivery of this Agreement,
Stockholder shall and shall use its reasonable best efforts to cause its Representatives to, immediately cease and cause to be terminated
any existing solicitation of, or discussions or negotiations with, any Person (other than Parent and its Representatives) relating to
any Company Acquisition Proposal made prior to the date hereof and any access any such Persons may have to any physical or electronic
data room or any confidential or proprietary information relating to any potential Company Acquisition Proposal.


 




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4.
Additional Agreements.


 


(a)
Certain Events. In the event of any stock split, stock dividend, merger, reorganization, recapitalization or other change in the
capital structure of the Company affecting the Covered Shares or the acquisition of Additional Owned Shares or other securities or rights
of the Company by Stockholder, (i) the type and number of Covered Shares shall be adjusted appropriately, and (ii) this Agreement and
the obligations hereunder shall automatically attach to any Additional Owned Shares or other securities or rights of the Company issued
to or acquired by Stockholder. In the event of a Company Change in Recommendation, to the extent the Covered Shares (together will all
shares of Company Common Stock subject to voting agreements entered into on the date hereof by and between Company stockholders and Parent)
exceed 30% of the Company Outstanding Shares, then the number of shares of Company Common Stock subject to such voting agreements shall
only be 30% of the Company Outstanding Shares in the aggregate, and the number of shares of Company Common Stock of each such Company
stockholder subject to each such voting agreement shall be reduced proportionately based upon the number of shares of Company Common
Stock subject thereto.


 


(b)
Stop Transfer. In furtherance of this Agreement, Stockholder hereby authorizes and instructs the Company (including through the
Company’s transfer agent) to enter a stop transfer order with respect to all of the Covered Shares, including authorizing the Company
to, as promptly as practicable after the date of this Agreement, make a notation on its records and give instructions to the transfer
agent for the Covered Shares not to permit, during the term of this Agreement, the Transfer of the Covered Shares unless such Transfer
is a Permitted Transfer, provided that promptly following the earlier of (x) the Expiration Date and (y) obtaining the Company
Stockholder Approval, any such stop transfer instructions imposed pursuant to this Section 4(b) shall be lifted.


 





(c)
Waiver of Appraisal and Dissenters’ Rights and Actions. Stockholder hereby (i) waives and agrees not to exercise any rights
of appraisal or rights to dissent from the Merger that Stockholder may have and (ii) agrees not to commence or participate in, assist
or knowingly encourage, and to take all actions necessary to opt out of, any class in any class action with respect to, any action or
claim, derivative or otherwise, against Parent, Merger Sub, the Company or any of their respective Subsidiaries or Affiliates and each
of their successors and assigns relating to the negotiation, execution or delivery of this Agreement or the Merger Agreement or the consummation
of the Merger, including any claim (A) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement
(including any claim seeking to enjoin or delay the closing of the Merger) or (B) alleging a breach of any fiduciary duty of the Company
Board in connection with the Merger Agreement or the transactions contemplated thereby; provided that nothing in this Section
4(c) shall restrict or prohibit Stockholder from asserting (x) its right to receive the Merger Consideration in accordance with the Merger
Agreement and the DGCL or (y) counterclaims or defenses in any proceeding brought or claims asserted against it by Parent, Merger Sub,
the Company or any of their respective Subsidiaries or Affiliates and each of their successors and assigns relating to this Agreement
or the Merger Agreement, or from enforcing its rights under this Agreement.


 






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(d)
Communications. Stockholder shall not, and shall use reasonable best efforts to cause its Representatives not to, make any press
release, public announcement or other communication with respect to the business or affairs of any of the Company, Parent or Merger Sub,
including this Agreement and the Merger Agreement and the transactions contemplated hereby and thereby, without the prior written consent
of Parent. Stockholder hereby (i) consents to and authorizes the publication and disclosure by Parent of Stockholder’s identity
and holding of Covered Shares, and the nature of Stockholder’s commitments, arrangements and understandings under this Agreement
in any press release or any other disclosure document in connection with the Merger or any other transactions contemplated by the Merger
Agreement and (ii) agrees as promptly as practicable to notify Parent of any required corrections with respect to any written information
supplied by Stockholder specifically for use in any such disclosure document.


 


(e)
Additional Owned Shares. Stockholder hereby agrees to notify Parent promptly in writing of the number and description of any Additional
Owned Shares.


 


5.
Representations and Warranties of Stockholder. Stockholder hereby represents and warrants to Parent as follows:


 


(a)
Title. Stockholder is the sole record and beneficial owner of the Covered Shares. The Owned Shares constitute all of the capital
stock and any other equity securities of the Company owned of record or beneficially by Stockholder on the date hereof, and Stockholder
is not the beneficial owner of, and does not have any right to acquire (whether currently, upon lapse of time, following the satisfaction
of any conditions, upon the occurrence of any event or any combination of the foregoing) any shares of Company Common Stock or any other
equity securities of the Company or any securities convertible into or exchangeable or exercisable for shares of Company Common Stock
or such other equity securities, in each case other than the Owned Shares and any Additional Owned Shares. Dr. David Sidranksy, Chairman
of the Board of Directors of the Company and managing partner of Stockholder, is not the beneficial owner of, and does not have any right
to acquire (whether currently, upon lapse of time, following the satisfaction of any conditions, upon the occurrence of any event or
any combination of the foregoing), directly or indirectly, (i) 5% or greater shares of Company Common Stock or any other equity securities
of the Company or any securities convertible into or exchangeable or exercisable for shares of Company Common Stock or such other equity
securities, or (ii) 5% or more of the Merger Consideration. Stockholder (or its nominee or custodian for the benefit of Stockholder)
has sole voting power, sole power of disposition and sole power to issue instructions with respect to the matters set forth in Sections
3 and 4 hereof and all other matters set forth in this Agreement, in each case with respect to all of the Covered Shares with no limitations,
qualifications or restrictions on such rights, subject to applicable securities laws and the terms of this Agreement. Except as permitted
by this Agreement, the Owned Shares and the certificates representing such Owned Shares, if any, are now, and at all times prior to the
Expiration Date will be, held by Stockholder, or by a nominee or custodian for the benefit of Stockholder, free and clear of any and
all liens, pledges, claims, options, proxies, voting trusts or agreements, security interests, understandings or arrangements or any
other encumbrances whatsoever on title, transfer or exercise of any rights of a stockholder in respect of the Owned Shares (other than
as created by this Agreement) (collectively, “Liens”).


 




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(b)
Organization and Qualification. If Stockholder is not an individual, Stockholder is a legal entity duly organized, validly existing
and, to the extent such concept is applicable, in good standing under the laws of the jurisdiction of its organization.


 


(c)
Authority. Stockholder has all necessary individual or entity power and authority and legal capacity to, and has taken all action
necessary in order to, execute, deliver and perform all of Stockholder’s obligations under this Agreement, and consummate the transactions
contemplated hereby, and no other proceedings or actions on the part of Stockholder are necessary to authorize the execution, delivery
or performance of this Agreement or the consummation of the transactions contemplated hereby.


 


(d)
Due Execution and Delivery. This Agreement has been duly and validly executed and delivered by Stockholder and, assuming due authorization,
execution and delivery hereof by Parent, constitutes a legal, valid and binding agreement of Stockholder, enforceable against Stockholder
in accordance with its terms, subject to the Bankruptcy and Equity Exception. If Stockholder is an individual and is married, and any
of the Covered Shares constitute community property or spousal approval is otherwise necessary for this Agreement to be legal, binding
and enforceable, this Agreement has been duly authorized, executed and delivered by, and constitutes the legal, valid and binding obligation
of, Stockholder’s spouse, enforceable against Stockholder’s spouse in accordance with its terms.


 


(e)
No Filings; No Conflict or Default. Except for any required filings under the any competition, antitrust and investment laws or
regulations of foreign jurisdictions and the Exchange Act, no filing with, and no permit, authorization, consent or approval of, any
Governmental Entity or any other Person is necessary for the execution and delivery of this Agreement by Stockholder, the consummation
by Stockholder of the transactions contemplated hereby and the compliance by Stockholder with the provisions hereof. None of the execution
and delivery of this Agreement by Stockholder, the consummation by Stockholder of the transactions contemplated hereby or compliance
by Stockholder with any of the provisions hereof will (i) result in a violation or breach of, or constitute (with or without notice or
lapse of time or both) a default (or give rise to any third party right of termination, cancellation, modification or acceleration) under,
any of the terms, conditions or provisions of any note, bond, mortgage, indenture, lease, license, permit, contract, commitment, arrangement,
understanding, agreement or other instrument or obligation of any kind, including any voting agreement, proxy arrangement, pledge agreement,
shareholders agreement or voting trust, to which Stockholder is a party or by which Stockholder or any of Stockholder’s properties
or assets may be bound, (ii) violate any judgment, order, writ, injunction, decree or award of any court, administrative agency or other
Governmental Entity that is applicable to Stockholder or any of Stockholder’s properties or assets, (iii) constitute a violation
by Stockholder of any law or regulation of any jurisdiction, (iv) render Section 203 of the DGCL, or any other state takeover statute
or similar statute or regulation, applicable to the Merger or any other transaction involving Parent, or (v) if Stockholder is not an
individual, contravene or conflict with Stockholder’s governing or organizational documents, in each case, except, in the case
of clauses (i) through (iv), for any conflict, breach, default or violation described above which would not materially impair the ability
of Stockholder to perform its obligations hereunder or consummate the transactions contemplated hereby.


 




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(f)
No Litigation. There is no suit, claim, action, investigation or proceeding pending or, to the knowledge of Stockholder, threatened
against Stockholder at law or in equity before or by any Governmental Entity that questions the beneficial or record ownership of Stockholder’s
Covered Shares, the validity of this Agreement or the performance by Stockholder of its obligations under this Agreement or that would
reasonably be expected to materially impair the ability of Stockholder to perform its obligations hereunder or to consummate the transactions
contemplated hereby.


 


(g)
No Fees. No broker, finder or investment banker is entitled to any brokerage, finder’s or other similar fee or commission
in connection with the transactions contemplated hereby based upon arrangements made by or on behalf of Stockholder.


 


(h)
Receipt; Reliance. Stockholder has received and reviewed a copy of the Merger Agreement. Stockholder understands and acknowledges
that Parent and Merger Sub are entering into the Merger Agreement in reliance upon Stockholder’s execution, delivery and performance
of this Agreement and the representations, warranties, covenants and other agreements of Stockholder contained herein.


 


6.
Termination. This Agreement and all rights and obligations of the parties hereunder shall commence on the date hereof and shall
terminate upon the earliest of (such time, the “Expiration Date”) (a) the mutual agreement of Parent and Stockholder,
(b) the Company Stockholders Meeting at which a vote upon the adoption of the Merger Agreement and the approval of the Merger and the
other transactions contemplated by the Merger Agreement is taken and (c) the termination of the Merger Agreement in accordance with its
terms; provided that (i) nothing herein shall relieve any party hereto from liability for any breach of this Agreement and (ii)
this Section 6 and Section 8 shall survive any termination of this Agreement.


 


7.
No Limitation. Nothing in this Agreement shall be construed to prohibit Stockholder or any of Stockholder’s Representatives
who is an officer or member of the Company Board from taking any action (or failing to take any action) solely in his or her capacity
as an officer or member of the Company Board (or any committee thereof) or from taking any action with respect to any Company Acquisition
Proposal as an officer or member of the Company Board (or any committee thereof).


 


8.
Miscellaneous.


 


(a)
Entire Agreement. This Agreement (together with Schedule I) constitutes the entire agreement and supersedes all prior and
contemporaneous agreements and understandings, both written and oral, among or between any of the parties hereto with respect to the
subject matter hereof.


 




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(b)
Reasonable Efforts. At the other party’s reasonable request and without further consideration, each party hereto shall execute
and deliver such additional documents and take all such further lawful action as may be reasonably required or necessary to consummate
and make effective, in the most expeditious manner practicable, the transactions contemplated hereby. Without limiting the foregoing,
Stockholder shall execute and deliver to Parent and any of its designees any proxies, including with respect to Additional Owned Shares,
reasonably requested by Parent in furtherance of this Agreement.


 


(c)
No Assignment. This Agreement shall be binding upon, and shall be enforceable by and inure solely to the benefit of, the parties
hereto and their respective successors and permitted assigns; provided, however, that, except in connection with a Permitted Transfer,
neither this Agreement nor any of a party’s rights or obligations hereunder may be assigned or delegated by such party without
the prior written consent of the other party, and any attempted assignment or delegation of this Agreement or any of such rights or obligations
by such party without the other party’s prior written consent shall be void and of no effect.


 


(d)
Binding Successors. Without limiting any other rights Parent may have hereunder in respect of any Transfer of the Covered Shares,
Stockholder agrees that this Agreement and the obligations hereunder shall attach to the Covered Shares beneficially owned by Stockholder
and shall be binding upon any Person to which legal or beneficial ownership of such Covered Shares shall pass, whether by operation of
law or otherwise, including, without limitation, Stockholder’s heirs, guardians, administrators, Representatives, successors or
permitted assigns.


 


(e)
Amendments. This Agreement may be amended at any time prior to the Effective Time (whether before or after receipt of the Company
Stockholder Approval) by an instrument in writing signed on behalf of each of the parties hereto.


 


(f)
Notice. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly delivered and
received hereunder (a) one (1) Business Day after being sent for next Business Day delivery, fees prepaid, via a reputable international
overnight courier service, (b) upon delivery in the case of delivery by hand, or (c) on the date delivered in the place of delivery if
sent by email (if no automated notice of delivery failure is received by the sender) prior to 5:00 p.m. New York time, otherwise on the
next succeeding Business Day, in each case to the intended recipient as set forth below:


 


if
to Parent or Merger Sub


 


Advaxis,
Inc.


212
Carnegie Center, Suite 206


Princeton,
New Jersey 08540


Attention:
Kenneth A. Berlin and Igor Gitelman


Email:
berlin@advaxis.com; gitelman@advaxis.com


 






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with
copies to (which shall not constitute notice):


 


Morgan,
Lewis & Bockius LLP


101
Park Avenue


New
York, NY 10178


Attention:
Robert W. Dickey


Email:
robert.dickey@morganlewis.com


 


if
to the Stockholder


 


Israel
Biotech Fund I, L.P.


75
Fort Street, Clifton House


PO
Box, 1350


KYI-1108,
Grand Cayman


Attention:
Sarit Steinberg


Email:
sarit@ibf.fund


 


with
copies to (which shall not constitute notice):


 


Latham
& Watkins LLP


200
Clarendon Street


Boston,
MA 02116


Attention:
Peter N. Handrinos; Joshua M. Dubofsky


Email:
Peter.Handrinos@lw.com; Josh.Dubofsky@lw.com


 


(g)
Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall
not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. If a final judgment of a court of competent jurisdiction declares
that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination shall
have the power to limit the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or
provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or
unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the
power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term or provision with a
valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such
invalid or unenforceable term.


 


(h)
Remedies. All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law or in
equity shall be cumulative and not alternative, and the exercise of any such right, power or remedy by any party hereto shall not preclude
the simultaneous or later exercise of any other such right, power or remedy by such party.


 




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(i)
No Waiver. Except as otherwise provided in this Agreement, any failure of any of the parties to comply with any obligation, covenant,
agreement or condition herein may be waived by the party or parties entitled to the benefits thereof only by a written instrument signed
by the party granting such waiver. Any such waiver shall not be applicable or have any effect except in the specific instance in which
it is given. No failure on the part of any party to exercise any power, right, privilege or remedy under this Agreement, and no delay
on the part of any party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such
power, right, privilege or remedy. No single or partial exercise of any such power, right, privilege or remedy shall preclude any other
or further exercise thereof or of any other power, right, privilege or remedy.


 


(j)
No Third Party Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of each party hereto, and nothing
in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under
or by reason of this Agreement.


 


(k)
Applicable Law; Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of
Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of laws. In any action or proceeding
between any of the parties hereto arising out of or relating to this Agreement, each of the parties hereto: (a) irrevocably and unconditionally
consents and submits to the exclusive jurisdiction and venue of the Court of Chancery of the State of Delaware or, to the extent such
court does not have subject matter jurisdiction, the United States District Court for the District of Delaware or, to the extent that
neither of the foregoing courts has jurisdiction, the Superior Court of the State of Delaware; (b) agrees that all claims in respect
of such action or proceeding shall be heard and determined exclusively in accordance with clause (a) of this Section 8(k); (c)
waives any objection to laying venue in any such action or proceeding in such courts; (d) waives any objection that such courts are an
inconvenient forum or do not have jurisdiction over any party hereto; and (e) agrees that service of process upon such party in any such
action or proceeding shall be effective if notice is given in accordance with Section 8(f) of this Agreement. EACH PARTY HERETO
ACKNOWLEDGES AND AGREES THAT ANY ACTION OR PROCEEDING WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION
OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH,
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY
OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION OR PROCEEDING,
SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (III) IT MAKES SUCH
WAIVERS VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 8(k).


 




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(l)
Specific Performance. Each of the parties hereto acknowledges and agrees that irreparable damage would occur and that the parties
hereto would not have any adequate remedy at law in the event that any of the provisions of this Agreement were not performed in accordance
with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor.
It is accordingly agreed that, in addition to any other remedy that a party hereto may have under law or in equity, in the event of any
breach or threatened breach by Parent or Stockholder of any covenant or obligation of such party contained in this Agreement, the other
party shall be entitled to obtain an injunction or injunctions, specific performance and other equitable relief to prevent breaches of
this Agreement and to enforce specifically the performance of the terms and provisions hereof, without proof of actual damages (and each
party hereto hereby waives any requirement for the security or posting of any bond in connection with such remedy). The parties hereto
further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to applicable Law or inequitable
for any reason, and not to assert that a remedy of monetary damages would provide an adequate remedy for any such breach or that Stockholder
or Parent otherwise have an adequate remedy at law. The parties hereto acknowledge that the agreements contained in this Section 8(l)
are an integral part of the transactions contemplated by this Agreement, and that, without these agreements, the parties hereto would
not enter into this Agreement.


 


(m)
Interpretation. The terms of Section 8.11 of the Merger Agreement apply to this Agreement mutatis mutandis.


 


(n)
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which
shall constitute one and the same instrument. The exchange of a fully executed Agreement (in counterparts or otherwise) by all parties
hereto by electronic transmission in .PDF format shall be sufficient to bind the parties hereto to the terms and conditions of this Agreement.


 


(o)
Expenses. Except as otherwise provided herein, each party hereto shall pay such party’s own expenses incurred in connection
with this Agreement.


 


(p)
No Ownership Interest. Nothing contained in this Agreement shall be deemed, upon execution, to vest in Parent any direct or indirect
ownership or incidence of ownership of or with respect to any Covered Shares. All rights, ownership and economic benefits of and relating
to the Covered Shares shall remain vested in and belong to Stockholder, and Parent shall have no authority to manage, direct, superintend,
restrict, regulate, govern or administer any of the policies or operations of the Company or exercise any power or authority to direct
Stockholder in the voting of any of the Covered Shares, except as otherwise provided herein.


 


(q)
Capacity as Stockholder. Notwithstanding anything herein to the contrary, Stockholder signs this Agreement solely in Stockholder’s
capacity as a stockholder of the Company, and not in any other capacity, and this Agreement shall not limit or otherwise affect the actions
(or failure to take any actions) of any Affiliate, employee or designee of Stockholder or any of its Affiliates in his or her capacity,
if applicable, as an officer or director of the Company or any other Person.


 


[Signature
page follows]


 




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IN
WITNESS WHEREOF, Parent and Stockholder have caused this Agreement to be duly executed as of the date first written above.


 


	 	ADVAXIS,
    INC.
	 	 	 
	 	By:	/s/
                                            Kenneth A. Berlin

	 	Name:	Kenneth A. Berlin
	 	Title:	President and Chief Executive Officer
	 	 	 
	 	ISRAEL
    BIOTECH FUND I, L.P.
	 	By
    its general partner:
	 	Israel
    Biotech Fund GP Partners, L.P.
	 	By
    its general partner: 
	 	I.B.F.
    Management, Ltd.
	 	 	 
	 	By:	/s/
    Yuval Cabilly
	 	Name:
    	Yuval Cabilly
	 	Title:
    	CEO


 


[Signature Page to Voting and Support Agreement]


 






    	 



    	 



    

 







SCHEDULE I


 


	Name
    and Contact Information for Stockholder	 	Number
    of Shares of Company Common Stock Beneficially Owned
	Israel
    Biotech Fund I, L.P.

    75
    Fort Street, Clifton House

    PO
    Box, 1350

    KYI-1108,
    Grand Cayman
	 	3,315,119