Warrant Termination Agmt between Biovest and Laurus



 Exhibit 10.18 
 WARRANT TERMINATION AGREEMENT 
 THIS WARRANT
TERMINATION AGREEMENT (this “Agreement”) is made as of November 17, 2010, by and between LAURUS MASTER FUND, LTD. (IN LIQUIDATION), a Cayman Islands company (“Laurus”), and BIOVEST INTERNATIONAL, INC., a
Delaware corporation (“Biovest”). 
 RECITALS 

WHEREAS, on March 31, 2006, Biovest and Laurus entered into a Note and Warrant Purchase Agreement (the
“Biovest Purchase Agreement”), pursuant to which Laurus purchased a Secured Promissory Note in the original principal amount of $7,799,000 from Biovest; 

WHEREAS, in connection with the Biovest Purchase Agreement, Biovest executed and issued to Laurus a Common Stock
Purchase Warrant (the “Laurus Warrant”) for the purchase by Laurus, on or before March 31, 2021, of up to 18,087,889 shares of the Biovest Common Stock at an exercise price of $0.01 per share; 

WHEREAS, pursuant to that certain Term Loan and Security Agreement (the “Security Agreement”)
dated as of November 17, 2010, by and among Biovest, the Lenders party thereto and LV Administrative Services, Inc., the parties hereto, in consideration for the acceptance by certain of the Prepetition Lenders of the allowed secured claims
against Biovest as provided therein, have agreed, among other things, to the termination and cancellation of the Laurus Warrant; and 
 WHEREAS, pursuant to the terms and conditions of the Security Agreement and the Confirmed Plan, Laurus and Biovest desire to terminate and cancel the Laurus Warrant effective as of the date of this
Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows: 

1.          Capitalized terms used but not defined herein shall have
the meanings ascribed to them in the Security Agreement. 

2.          The parties hereto agree that the above Recitals are true
and correct in all respects. 
 3.          Laurus hereby
consents to the termination and cancellation of the Laurus Warrant (and all of the rights and obligations created thereunder), and Biovest hereby cancels the Laurus Warrant, effective as of the date of this Agreement. 

4.          Laurus hereby acknowledges and agrees that it shall have no
claims of any nature whatsoever against Biovest as a result of the termination and cancellation of the Laurus Warrant. 
 5.          This Agreement shall be binding upon the parties hereto and their respective successors and assigns. The parties hereto agree that this
Agreement is fully and adequately supported by consideration, is fair and reasonable, and that they have had the opportunity to discuss this matter with counsel of their choice. This Agreement may be executed in one or


  
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more counterparts, each of which shall be deemed an original and all of which together shall be deemed to constitute one agreement. It is understood and agreed that if facsimile copies of this
Agreement bearing facsimile signatures are exchanged between the parties hereto, such copies shall in all respects have the same weight, force and legal effect and shall be fully as valid, binding, and enforceable as if such signed facsimile copies
were original documents bearing original signature. 
 6.        THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED, INTERPRETED AND ENFORCED ACCORDING TO, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS PROVISIONS THEREOF. ANY ACTION BROUGHT CONCERNING THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT SHALL BE BROUGHT ONLY IN THE STATE COURTS OF NEW YORK OR IN THE FEDERAL COURTS LOCATED IN THE STATE OF NEW YORK. The prevailing party shall be entitled to recover from the other party its reasonable
attorneys’ fees and costs. Wherever possible each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under
such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

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 IN WITNESS WHEREOF, the undersigned have executed this Agreement as
of the date first above written. 
  

			
	LAURUS MASTER FUND, LTD. (IN
LIQUIDATION)
		
	By:	 	 /s/ Russell
Smith




			
	Name:	 	  Russell Smith
	Title:	 	  Joint Official Liquidator (with no personal
	liability)
	
	BIOVEST INTERNATIONAL, INC.
	
	By: /s/ David
Moser                                       
         
	Name:	 	  David Moser
	Title:	 	  Secretary