Exhibit 10.1


 


GLOBAL AMENDMENT


 


This Global Amendment (this
 “Amendment”) is entered into as of October 17, 2022, by and among Streeterville Capital, LLC, a Utah limited
liability company (“Lender”), Jaguar Health, Inc., a Delaware corporation (“Company”), and
Napo Pharmaceuticals, Inc., a Delaware corporation (“Napo”, and together with Company, “Borrower”).
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Note (as defined below).


 


A. Borrower
previously issued to Lender that certain Secured Promissory Note in the original principal amount of $6,220,812.50 dated
January 19, 2021 (as previously amended, the “Note”) pursuant to that the certain Note Purchase Agreement
among Borrower and Lender dated January 19, 2021 (the “Purchase Agreement,” and together with the Note and
all documents entered into in connection therewith, the “Transaction Documents”).


 


B.
Lender and Borrower have agreed, subject to the terms, amendments, conditions and understandings expressed in this Amendment, to
amend the Note as set forth herein.


 


NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:


 


1.            Recitals.
Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Amendment are true and accurate and are
hereby incorporated into and made a part of this Amendment.


 


		2.	Amendments
                                            to Note.



 


(a)
           Prepayment. Borrower may not prepay the Note without Lender’s prior written consent, which consent may be granted or withheld
in Lender’s sole and absolute discretion.


 


(b)
           Definition of Trial Failure. In the definition of the term “Trial Failure”, the July 1, 2022 deadline to begin
the Phase 1 clinical trial for Lechlemer is hereby extended from July 1, 2022 to July 1, 2023.


 


3.            Amendment
to Purchase Agreement. The first sentence of Section 7.1 of the Purchase Agreement is deleted in its entirety and replaced with
the following:


 


“In the event Borrower sells a Tropical
Disease Priority Review Voucher (“TDPRV”) or the program to pursue the TDPRV, Investor will be entitled to a
maximum of eighteen percent (18%) and minimum of one percent (1%) of the gross proceeds received by Borrower from the sale of the TDPRV
or the program to pursue the TDPRV (the “Return Bonus”).”


 






     


     


    

 


4.            Representations
and Warranties. In order to induce Lender to enter into this Amendment, each of Company and Napo, for itself, and for its affiliates,
successors and assigns, hereby acknowledges, represents, warrants and agrees as follows:


 


(a)            Borrower
has full power and authority to enter into this Amendment and to incur and perform all obligations and covenants contained herein, all
of which have been duly authorized by all proper and necessary action. No consent, approval, filing or registration with or notice to
any governmental authority is required as a condition to the validity of this Amendment or the performance of any of the obligations
of Borrower hereunder.


 


(b)            There
is no fact known to Borrower which Borrower has not disclosed to Lender on or prior to the date of this Amendment which would materially
and adversely affect the understanding of Lender expressed in this Amendment or any representation, warranty, or recital contained in
this Amendment.


 


(c)            Except
as expressly set forth in this Amendment, Borrower acknowledges and agrees that neither the execution and delivery of this Amendment
nor any of the terms, provisions, covenants, or agreements contained in this Amendment shall in any manner release, impair, lessen, modify,
waive, or otherwise affect the liability and obligations of Borrower under the terms of the Transaction Documents.


 


(d)            Borrower
has no defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action
of any kind or nature whatsoever against Lender, directly or indirectly, arising out of, based upon, or in any manner connected with,
the transactions contemplated hereby, whether known or unknown, which occurred, existed, was taken, permitted, or begun prior to the
execution of this Amendment and occurred, existed, was taken, permitted or begun in accordance with, pursuant to, or by virtue of any
of the terms or conditions of the Transaction Documents. To the extent any such defenses, affirmative or otherwise, rights of setoff,
rights of recoupment, claims, counterclaims, actions or causes of action exist or existed, such defenses, rights, claims, counterclaims,
actions and causes of action are hereby waived, discharged and released. Borrower hereby acknowledges and agrees that the execution of
this Amendment by Lender shall not constitute an acknowledgment of or admission by Lender of the existence of any claims or of liability
for any matter or precedent upon which any claim or liability may be asserted.


 


5.            Certain
Acknowledgments. Each of the parties acknowledges and agrees that no property or cash consideration of any kind whatsoever has been
or shall be given by Lender to Borrower in connection with the amendments to the Note and the Purchase Agreement granted herein.


 


6.            Other
Terms Unchanged. The Note and the Purchase Agreement, as amended by this Amendment, remain and continue in full force and
effect, constitute legal, valid, and binding obligations of each of the parties, and are in all respects agreed to, ratified, and
confirmed. Any reference to the Note or Purchase Agreement after the date of this Amendment is deemed to be a reference to the Note
or the Purchase Agreement as amended by this Amendment. If there is a conflict between the terms of this Amendment and the Note or
the Purchase Agreement, the terms of this Amendment shall control. No forbearance or waiver may be implied by this Amendment.
Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of,
or as an amendment to, any right, power, or remedy of Lender under the Note or the Purchase Agreement, as in effect prior to the
date hereof. For the avoidance of doubt, this Amendment shall be subject to the governing law, venue, and Arbitration Provisions, as
set forth in the Purchase Agreement.


 






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7.            No
Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, equity holders,
representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives, officers, directors,
or employees except as expressly set forth in this Amendment and the Transaction Documents and, in making its decision to enter into
the transactions contemplated by this Amendment, Borrower is not relying on any representation, warranty, covenant or promise of Lender
or its officers, directors, members, managers, equity holders, agents or representatives other than as set forth in this Amendment.


 


8.            Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.


 


9.            Further
Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated hereby.


 


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IN WITNESS WHEREOF, the undersigned
have executed this Amendment as of the date set forth above.


 


	 	LENDER:
	 	 
	 	Streeterville Capital,
    LLC
	 	 
	 	By:	 /s/ John M. Fife                                 
	 	 	John M. Fife, President
	 	 
	 	BORROWER:
	 	 
	 	Jaguar
                                            Health, Inc.

	 	 
	 	By:	 /s/ Lisa Conte
	 	 	Lisa Conte, President and CEO
	 	 
	 	Napo
                                            Pharmaceuticals, Inc.

	 	 
	 	By:	/s/ Lisa Conte
	 	 	Lisa Conte, President and CEO






 


[Signature Page to Global Amendment]