Document:

Amendment #1 to Financial Advisory and Investor Retations Consulting Agreement

 Exhibit 10.19 
 AMENDMENT NUMBER 1 
 (the “Amendment”) 
 TO 
 Financial Advisory and Investor
Relations Consulting Agreement 
 Dated 13th day of February, 2007 
 (the “Agreement”) 

 Between 
 NovaBay
Pharmaceuticals, Inc. (“NovaBay”) 
 And 
 PM Holdings Ltd. (“PM”) 
 This Amendment is entered into between NovaBay and PM as of the
latest date indicated on the signature pages hereto. 
 WHEREAS, NovaBay and PM wish to modify the scope of the Agreement; and 
 WHEREAS, NovaBay and PM wish to modify the payments due under the Agreement; 
 NOW, THEREFORE, NovaBay and PM hereby agree to amend the Agreement as follows: 
  

	 	1.	In Exhibit A, replace Item a) with “a) Assist NovaBay in its investor relations activities in Canada by identifying potential candidates for NovaBay to employ, on an as needed
basis, for the detailed preparation of investor road shows in Canada and for the management of such road shows;” 

  

	 	2.	In Exhibit A, replace Item b) with “b) Advise NovaBay on obtaining value from its listing on the Toronto Stock Exchange;” 

  

	 	3.	In Exhibit A, add Item “j) Assist NovaBay in the organization of two investor road shows per year in Europe.” 

  

	 	4.	Replace Exhibit B in its entirety with Exhibit B attached hereto. 

 All other provisions of the Agreement remain in force. 

 The parties have executed this Amendment to be effective as of the latest date indicated below.

  

					
	NOVABAY PHARMACEUTICALS, INC.
	A California corporation
		
	By:	 	/s/ Thomas Paulson
	Name:	 	Thomas Paulson
	Its:	 	Chief Financial Officer
	Address:	 	5980 Horton St., Suite 550
		 		 	Emeryville, CA 94608
		
	Date:	 	March 12, 2008
	
	PM HOLDINGS LTD.,
	A Turks and Caicos company
		
	By:	 	/s/ Patrick Churchill
	Name:	 	Patrick Churchill
	Its:	 	Director
	Address:	 	3 Place du Folies
		 		 	Monaco
		
	Date:	 	March 12, 2008

 EXHIBIT B 
 COMPENSATION 
 For Financial Advisory and Investor Relations Services for the period from April 1, 2008
to February 12, 2010, PM is entitled to receive the following fees: 
  

	 	a)	the sum of $264,000; 

  

	 	b)	a warrant agreement issued by NovaBay to PM entitling PM to acquire 150,000 shares of Common Stock of NovaBay exercisable at a price of $4.00 per share expiring April 1, 2010;
and 

  

	 	c)	a warrant agreement issued by NovaBay to PM entitling PM to acquire 150,000 shares of Common Stock of NovaBay exercisable at a price of $4.00 per share expiring April 1, 2012.

 The warrant agreements referenced above shall be substantially in the form attached hereto as Appendix I and shall be
issued on April 1, 2008. In connection therewith, PM acknowledges and agrees that the representations and warranties of PM contained in Section 10 of the warrant agreements (in the form attached as Appendix I) are true and correct
as of the date hereof and that the obligation of NovaBay to execute and deliver the warrant agreements is contingent upon the truth and accuracy of such representations and warranties on the date of issuance of the warrant agreements. 
 No further or other payments shall be due, other than as indicated above, for services to be provided under the Agreement. PM acknowledges that all fees
and other payments due for services provided prior to April 1, 2008 have been received in full. 
 In the event that PM terminates the
Agreement, then PM will immediately repay to NovaBay the amount of $28,000 multiplied by the number of whole months remaining from the date of termination to February 12, 2010. 

 APPENDIX I 
 FORM OF WARRANT 
 NOVABAY PHARMACEUTICALS, INC. 
 COMMON STOCK PURCHASE WARRANT 
 THIS
WARRANT AND THE SECURITIES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
(I) AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAWS, (II) COMPLIANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED PURSUANT TO THE ACT OR (III) THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAWS. IN ADDITION, NO HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT. ADDITIONAL RESTRICTIONS ON TRANSFER ARE DESCRIBED BELOW AND IN SECTIONS 3
AND 10 HEREOF. 
 UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS WARRANT OR THE SECURITIES ISSUABLE HEREUNDER SHALL NOT
TRADE SUCH SECURITIES BEFORE AUGUST 2, 2008. 
 Issuance Date: April 1, 2008 
 THIS COMMON STOCK PURCHASE WARRANT certifies that, for value received, PM Holdings Ltd. (the “Holder”) is entitled, subject to
the prior approval of the issuance and the listing of the Warrant Shares by the American Stock Exchange (or other U.S. stock exchange on which the Warrant Shares are principally traded), upon the terms and subject to the limitations on exercise and
the conditions hereinafter set forth, at any time on or prior to 5:00 p.m. (Eastern Time) on April 1, [2010/ 2012] (the “Termination Date”) but not thereafter, to subscribe for and purchase from NovaBay Pharmaceuticals,
Inc., a corporation incorporated in the State of California (the “Company”), up to One Hundred Fifty Thousand (150,000) shares of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”).
The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant shall be U.S.$4.00, subject to adjustment hereunder. “Warrant” as used herein shall include this Common Stock Purchase
Warrant and any warrants delivered in substitution or exchange therefor as provided herein. “Warrant Shares” refers to the shares of Common Stock (or other securities or property to which Holder is entitled pursuant to
Section 6 or Section 7 hereof) issuable upon the exercise of the purchase rights represented by this Warrant. 
 1.
Exercise of Warrant. 
 (a) Except as provided above or in Section 2 herein, the purchase rights
represented by this Warrant may be exercised in whole or in part, at any time, or from time to time, on or before the Termination Date by delivering this Warrant and the Notice of Exercise form annexed hereto (including the confirmation of certain
representations, warranties and covenants as set forth on paragraph 3 of such Notice of 

  

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Exercise) duly completed and executed to the principal executive office of the Company (or such other office or agency of the Company as it may designate by
notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company) and by payment of the Exercise Price of the Warrant Shares thereby purchased by wire transfer, cash or check. If eligible, the Warrant
Shares shall be delivered by the Company to the Holder via the Depository Trust Company’s (“DTC”) Deposit Withdrawal Agent Commission (“DWAC”) system via the DTC instructions provided to the Company in the
Notice of Exercise. 
 (b) If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of
the certificate or certificates representing Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase that number of Warrant Shares in respect of which the Holder has not exercised the rights evidenced by
this Warrant, which new Warrant shall in all other respects be identical with this Warrant. 
 2. No Fractional Shares. This Warrant
may not be exercised for fractional shares; and no fractional share of any class or series of the Company’s capital stock shall be issued upon exercise of the Warrant. 
 3. No Transfer of Warrants. This Warrant and the rights hereunder are not transferable, in whole or in part. 
 4. No Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the
Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of such shares as of the
close of business on the later of the date of such surrender or payment. 
 5. Loss, Theft, Destruction or Mutilation of Warrant. The
Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and upon surrender and cancellation of such Warrant, if mutilated, the Company will make and
deliver a new Warrant of like tenor and dated as of such cancellation, in lieu of such Warrant. 
 6. Adjustments of Exercise Price and
Number of Warrant Shares; Stock Splits, Etc. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In
case the Company shall (a) pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock or other securities exchangeable for or convertible into shares of Common Stock for no additional consideration to holders of
its outstanding Common Stock, (b) split or subdivide its outstanding shares of Common Stock into a greater number of shares, (c) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, or
(d) issue any shares of its capital stock in a reclassification of the Common Stock (any of such events in subsections (a), (b), (c) and (d) above, a “Share Reorganization”), then the number (and, in the case of a
Share Reorganization in 

  

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(d) above, kind) of Warrant Shares purchasable upon exercise of this Warrant shall be deemed to have been adjusted so that the Holder shall be entitled to
receive the number (and, in the case of a Share Reorganization in (d) above, kind) of Warrant Shares equal to the amount of shares of Common Stock or, in the case of a Share Reorganization in (d) above, other securities of the Company
which the Holder would have owned or have been entitled to receive had such Warrant been exercised prior to the record date or effective date, as applicable, of such Share Reorganization (which includes, in the case of a Share Reorganization in
(a) above involving a distribution of securities exchangeable for or convertible into shares of Common Stock after the date of issuance of this Warrant, the number of shares of Common Stock that would be outstanding had all such securities been
so exchanged or converted). Upon each such adjustment of the number (and, in the case of a Share Reorganization in (d) above, kind) of Warrant Shares which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the
number of Warrant Shares resulting from such adjustment at an Exercise Price per Warrant Share obtained by multiplying the Exercise Price in effect immediately prior to the earlier of the record date for or the effective date of such Share
Reorganization by the number of Warrant Shares purchasable pursuant hereto immediately prior to such date and dividing by the number of Warrant Shares resulting from such adjustment. 
 7. Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify
its capital stock, consolidate or merge with or into another entity (where the Company is not the surviving entity or where there is a change in or distribution with respect to the Common Stock), or sell, transfer or otherwise dispose of all or
substantially all its property, assets or business to another entity (each, a “Reorganization”) and, pursuant to the terms of such Reorganization, shares of common stock of the successor or acquiring entity, or any cash, shares of
stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring entity (“Other Property”), are to
be received by or distributed to the holders of Common Stock, then this Warrant shall thereafter represent the right to receive, upon exercise of this Warrant, the number of shares of common stock and/or Other Property as would have been issuable
upon or as a result of such Reorganization with respect to the securities which were subject to the purchase rights under this Warrant immediately prior to the record date or, if there is no record date, the effective date of such Reorganization and
the Exercise Price therefor shall be adjusted to be the amount determined by multiplying the Exercise Price in effect immediately prior to the Reorganization by the number of Warrant Shares purchasable pursuant hereto immediately prior to the
Reorganization, and dividing the product thereof by the number of shares of common stock and/or Other Property to which the holder of that number of Warrant Shares purchasable pursuant hereto would have been entitled to by reason of such
Reorganization. In case of any such Reorganization, the successor or acquiring entity (if other than the Company) shall expressly assume the observance and performance of each and every covenant and condition of this Warrant to be performed and
observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide for
adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 7. For purposes of this Section 7, “common
stock” of a corporation shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and 

  

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which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this
Section 7 shall similarly apply to successive Reorganizations. 
 8. Notice of Adjustment. Whenever the number of Warrant
Shares or number or kind of securities or other property purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder, which notice shall state the number of
Warrant Shares (and/or other securities or Other Property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and/or other securities or Other Property) after such adjustment, setting forth a brief statement
of the facts requiring such adjustment and setting forth the computation by which such adjustment was made. 
 9. Authorized Shares.
The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. 
 10. Holder Representations and Warranties. Holder represents, warrants and covenants as follows:

 (a) Own Account. This Warrant and the Warrant Shares to be issued upon exercise hereof are being acquired by Holder
solely for the Holder’s own account and not as a nominee for any other party, and for investment, and the Holder will not offer, sell, or otherwise dispose of this Warrant or Warrant Shares to be issued upon exercise hereof except under
circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Act”), or any state securities laws. Upon exercise of this Warrant, the Holder shall, if reasonably requested by the Company, confirm
in writing, in a form reasonably satisfactory to the Company, that the Warrant Shares so purchased are being acquired for investment, solely for the Holder’s own account and not as a nominee for any other party. 
 (b) Accredited Investor. Holder acknowledges that it is familiar with the definition of “accredited investor” in Rule 501
of Regulation D promulgated under the Act and certifies that Holder is an accredited investor as defined in such rule. 
 (c)
Unregistered Securities. Holder understands that neither this Warrant nor the Warrant Shares have been registered under the Act, and neither this Warrant nor the Warrant Shares may be sold, assigned or transferred unless (i) a
registration statement under the Act is in effect with respect thereto or (ii) an exemption from registration is found to be available to the satisfaction of the Company. 
 (d) Regulation S. 
 (i) Holder is: (A) a resident of, or organized under the laws of, a country other than the United States, and (B) located, or with its principal place 

  

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of business, outside the United States. For purposes of this Warrant, the “United States” means the United States of America, its territories and
possessions, any State of the United States, and the District of Columbia. 
 (ii) Holder hereby certifies that it is not a
“U.S. person,” as such term is defined in Rule 902(k), promulgated pursuant to the Act, and is not acquiring the Warrant or the Warrant Shares for the account or benefit of any U.S. person. 
 (iii) Holder is not aware of, and has not engaged in or participated in, by or on behalf of the Company, any “directed selling
efforts” (as such term is defined in Rule 902 of Regulation S promulgated under the Act). 
 (e) Transfers. Holder
will not sell, transfer, pledge or otherwise dispose of or encumber the Warrant or the Warrant Shares unless and until (i) such securities are subsequently registered under the Act and each applicable state securities law; or
(ii) (A) an exemption from such registration is available thereunder (including pursuant to Regulation S under the Act), and (B) Holder has notified the Company of the proposed transfer and has furnished the Company with assurances
(which may include an opinion of counsel), satisfactory to the Company, that such transfer will not require registration of such shares under the Act. Holder further agrees not to engage in hedging transactions with regard to the Warrant or the
Warrant Shares unless in compliance with the Act. Holder understands that the Company is not obligated, and does not intend, to register any such shares under the Act or any state securities laws. 
 (f) Stop Orders, Etc. Holder acknowledges and agrees that the Company shall refuse to register any transfer of the Warrant or
Warrant Shares not made in accordance with: (i) the provisions of Regulation S; (ii) pursuant to registration under the Act; or (iii) pursuant to an available exemption under the Act. To the extent that foreign law prevents the
Company from refusing to register securities transfers, the Company shall be entitled to adopt other reasonable procedures to prevent any transfer of the Warrant or the Warrant Shares not made in accordance with the above. The Company shall be
entitled to issue any and all stop transfer orders, or issue any other orders that are necessary to enforce the terms of this Warrant. 
 (g) U.S. Legends. Holder acknowledges and agrees that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities
laws and that certificates evidencing the Warrant Shares shall bear a restrictive legend, substantially in the following form (in addition to such other restrictive legends as are required or deemed advisable under the provisions of this Warrant,
any applicable law or regulation or any other agreement to which Holder is a party): 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE 

  

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TRANSFERRED UNLESS (A) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING SUCH SECURITIES OR (B) SUCH TRANSFER MAY OTHERWISE BE
MADE IN COMPLIANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED PURSUANT TO THE ACT AND, IF REQUESTED BY THE COMPANY, SUCH COMPLIANCE IS CONFIRMED BY AN OPINION OF COUNSEL OR OTHER ASSURANCES, IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, OR
(C) THE COMPANY RECEIVES AN OPINION OF COUNSEL OR OTHER ASSURANCES, SATISFACTORY IN FORM AND CONTENT TO THE COMPANY OR ITS COUNSEL, INDICATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF
THE ACT. IN ADDITION, NO HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.” 
 (h) Canadian Legends. Any certificate representing shares of Common Stock issued upon the exercise of the Warrants prior to the date which is four months and one day after the date hereof will bear the following legends: 

“UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE AUGUST 2, 2008.”

 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE LISTED ON THE TORONTO STOCK EXCHANGE (“TSX”); HOWEVER, THE SAID
SECURITIES CANNOT BE TRADED THROUGH THE FACILITIES OF THE TSX SINCE THEY ARE NOT FREELY TRADEABLE AND CONSEQUENTLY ANY CERTIFICATE REPRESENTING SUCH SECURITIES IS NOT “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON THE TSX.”

 provided that at any time subsequent to the date which is four months and one day after the date hereof any certificate representing such
shares of Common Stock may be exchanged for a certificate bearing no such legends. 
 11. Expiration Date. This Warrant shall expire
and all rights to purchase Warrant Shares hereunder shall cease and become null and void at 5:00 p.m. (Eastern Time) on April 1, [2010/ 2012]. 
 12. Miscellaneous. 
 (a) Governing Law. This Warrant shall be governed by and construed in accordance
with the laws of the state of California as applied to contracts among California residents made and to be performed entirely within the state of California, without regard to its conflict of law principles or rules. 
  

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 (b) Transfer Taxes. The issuance of the Warrant Shares upon the exercise of this
Warrant, and the delivery of certificates or other instruments representing such Warrant Shares, shall be made without charge to the Holder for any transfer tax or other charge in respect of such issuance. 
 (c) Notices. Except as otherwise provided herein, any notice or request required or permitted to be given or delivered pursuant to
this Warrant shall be given in writing and shall be deemed effectively given (i) upon personal delivery, (ii) when sent by electronic mail or confirmed facsimile if sent during normal business hours of the recipient, and if not sent during
normal business hours, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All such notices or requests shall be sent (A) if to the Company, to the attention of the Company’s President at the Company’s principal
executive offices and (B) if to the Holder, to: ATTN:             , [address], Facsimile No.             ,
e-mail             . 
 (d) Successors. Subject to
applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors of Holder. 
 (e) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and
the Holder. 
 (f) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provisions or the remaining provisions of this Warrant. 
 (g) Counterparts. This Warrant may be
executed in two or more counterparts and via facsimile, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 (h) Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed
a part of this Warrant. 
 [remainder of page intentionally left blank] 
  

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 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed, effective as of the Issuance Date
set forth above, by its officer thereunto duly authorized. 
  

			
	NOVABAY PHARMACEUTICALS, INC.
		
	By:	 	 
		 	Ramin (“Ron”) Najafi, Ph.D.
		 	Chief Executive Officer and President

  

			
	ACKNOWLEDGED AND AGREED:
	
	PM HOLDINGS LTD.
		
	By:	 	 
		
	Name:	 	 
	Title:	 	 

 NOTICE OF EXERCISE 
  

	To:	NovaBay Pharmaceuticals, Inc. 

 (1) The undersigned hereby
elects to purchase              shares of the Common Stock of NovaBay Pharmaceuticals, Inc. (the “Warrant Shares”) pursuant to the terms of the Common Stock Purchase
Warrant dated April 1, 2008 (which is attached hereto), and tenders herewith payment of the exercise price in full. 
 (2) Please issue
a certificate or certificates representing said Warrant Shares in the name of the undersigned as specified below: 
 Special Instructions (if
any): _________________________________________ 
 _______________________________________________________________ 
 Address: ________________________________________________________ 
 _______________________________________________________________ 
 Federal Tax ID / Social Security No.:
___________________________________ 
 and deliver the Warrant Shares as follows (check one): 
  

	 	 ̈	by certified mail to the above address 

  

	 	 ̈	electronically (provide DWAC
Instructions:                                  )

  

	 	 ̈	other
(specify):                                      
                                        
  ) 

 (3) The representations and warranties of the undersigned contained in Section 10 of the Warrant are
true and accurate as of the date hereof, and the undersigned will comply with all obligations set forth therein. 
 (4) If the number of
Warrant Shares specified above are not all the Warrant Shares purchasable upon exercise of the Warrant, please issue a new Warrant for the balance of the Warrant Shares purchasable upon exercise of this Warrant registered in the name of the
undersigned Holder and delivered to the address indicated above. 
  

					
	Dated: __________________________	 		 	
			
	 	 		 	  
		 		 	(Print Name of Holder)

  

					
			
	By:	 	 	 	 
		
	Name:	 	 
	Title:Fifth Amendment to Office Lease

 Exhibit 10.20 
 FIFTH AMENDMENT 
 to 
 LEASE BETWEEN 
 EMERY STATION OFFICE II, LLC (LANDLORD) 
 And 
 NOVACAL PHARMACEUTICALS, INC. (TENANT)

 EMERYSTATION NORTH PROJECT 
 Emeryville, California 
 That certain lease dated June 3, 2004, by and between Emery Station Office II, LLC, a California Limited Liability
Company, as Landlord (“Landlord”), and NovaBay Pharmaceuticals, Inc. (formerly Novacal Pharmaceuticals, Inc.), a California Corporation, as Tenant (“Tenant”), a such lease was amended by First Amendment dated
June 22, 2004, by Second Amendment dated July 22, 2004, by Third Amendment dated March 25, 2005, and by Fourth Amendment dated September 30, 2006 (collectively, the “Lease”), is hereby further amended as outlined
below. The effective date of this Fifth Amendment shall be November 20, 2007 (the “Fifth Amendment Effective Date”). From and after the Fifth Amendment Effective Date the Lease and this Fifth Amendment thereto shall be referred
to as the “Lease” for all purposes. 
  

	I.	PREMISES: 

 Tenant has requested to lease from Landlord
and Landlord has agreed to lease to Tenant (under the terms enumerated herein) the following additional spaces in the EmeryStation North building: 
 Suite 360, presently committed to another tenant, which measures 3,052 rentable square feet. Suite 360 can be used as office space. 
 Suite 370, presently vacant, which measures 3,701 rentable square feet. Suite 370 can be used as office space. 
 The above spaces
are more specifically described on Exhibit A attached hereto. 
  

	II.	COMMENCEMENT DATES: 

 The lease term and rent applicable
to each suite will commence as more fully described below: 
 Suite 370: The lease term applicable to Suite 370 will commence
December 15, 2007. That date shall be referred to as the “Suite 370 Commencement Date”. 
 Suite 360: Suite 360 is
presently committed to EmeryStation North tenant Amyris Biotechnologies through a date that is no later than 30 days after their new space in EmeryStation East is completed and ready for occupancy. At present it is estimated that Amyris will have
vacated Suite 360 on or before May 31, 2008. Landlord will provide Tenant with at least fifteen (15) days advance written notice of Amyris’ planned vacation date, and the lease term for Tenant on Suite 360 shall commence upon the
earlier of: a) fifteen (15) days after Amyris’ departure, and b) Tenant’s occupancy of Suite 360 (the “Suite 360 Commencement Date”). As detailed in Section 2.3 of the Lease, Landlord shall not be liable for any
delay in being able to deliver the Suite 360 space for any reason including but not limited to Amyris’ unauthorized holdover in the space. Landlord agrees to use commercially-reasonable efforts to cause Amyris to vacate Suite 360 per the
terms of its occupancy. 

 Failure of Landlord to be able to deliver Suite 360 shall not impact Tenant’s obligation to the
lease Suite 370 pursuant to the terms hereof. 
  

	III.	EXPIRY DATE: 

 Tenant shall lease Suites 360 and 370 from
their respective Commencement Dates through a date which is five (5) years following the Suite 360 Commencement Date (the “Suite 360 & 370 Expiry Date”). Landlord and Tenant acknowledge that the Suite 360 &
370 Expiry Date extends beyond the expiry dates for other portions of Tenant’s Premises. 
  

	IV.	RENT AND EXPENSES: 

 Beginning on the respective
Commencements Dates for each suite, Tenant shall pay Monthly Base Rent as follows: 
 Suite 360: $6,165.04 per month, increasing on the first
anniversary of the Suite 360 Commencement Date and annually thereafter by three percent (3%). 
 Suite 370: $7,476.02 per month, increasing
on the first anniversary of the Suite 370 Commencement Date and annually thereafter by three percent (3%). 
 In the event any of the
respective Commencement Dates occurs on other than the first day of a calendar month, the Monthly Base Rents shall be pro-rated accordingly. 
 The first two (2) months of the lease terms of both Suite 360 and 370 shall be free of any Monthly Base Rent (but not free of Operating Expenses nor Taxes). 
 The Monthly Base Rent amounts shown above are intended to be fully triple-net of all Operating Expenses and Taxes. As such, there is no Base Year applicable to either Suite 360 nor to Suite 370 as there is with
Tenant’s premises existing in advance of the Fourth Amendment. In addition to Base Monthly Rent for Suites 360 and 370, Tenant is also obligated to pay Rent Adjustments and Rent Adjustment Deposits beginning on the respective suites’
Commencement Dates per the terms of the Lease, with the exception that all references to the “Base Year” that appear in the definitions of Rent Adjustment Deposits, Operating Expenses, Taxes and in Lease Sections 1.1(13) and 4.1 do not
apply. 
  

	V.	PREMISES CONDITION / TENANT IMPROVEMENTS: 

 Tenant agrees
to accept Suites 360 and 370 upon their respective Commencement Dates in their then as-is condition. Landlord will supply Tenant with a Tenant Improvement Allowance of $86,000 to reimburse Tenant for the demonstrable, third-party costs incurred by
Tenant for any fixed improvements Tenant makes to Suites 360 and/or 370. Landlord and Tenant acknowledge that Suite 370 currently has existing FF&E inside of it. Landlord makes no representations regarding the condition, quality nor efficacy of
said FF&E. Tenant may use such FF&E during the term of its lease of Suite 360 at its own risk, free of charge by the Landlord, and must return said FF&E to Landlord at the end of the term in good repair, normal wear and tear excepted,
upon the Suite 360 & 370 Expiry Date. 
  

	VI.	PARKING: 

 Upon the Suite 360 Commencement Date, Tenant
shall be entitled to use up to nine (9) additional unreserved parking stalls in the Terraces Garage at Landlord’s quoted rates. Upon the Suite 370 Commencement Date, Tenant shall be entitled to use up to eleven (11) additional
unreserved parking spaces in the Terraces Garage at Landlord’s quoted rates. 
  

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	VII.	SECURITY DEPOSIT: 

 Upon the Suite 360 Commencement Date,
the Security Deposit will be increased by $12,330.08. Upon the Suite 370 Commencement Date, the Security Deposit will be increased by $14,952.04. 
  

	VIII.	RIGHT OF FIRST OFFER TO LEASE OF SUITE 525 AND TERMINATE SUITES 360 AND 370 

 In the event the existing occupant of the 6,420 rentable square foot Suite 525 (as such Suite is more particularly described in Exhibit B hereto) has not renewed its lease on or before May 31, 2008 (or has
advised Landlord in advance of that date that it does not intend to do so), Landlord shall grant Tenant a Right of First Offer on Suite 525 per the terms outlined below: 
 a) Landlord will give Tenant prompt written notice in the event the existing Tenant of Suite 525 extends its lease thereof on or before May 31,
2008. Suite 525 shall become “Available Premises” for purposes of this section as soon as either of the following occur: 1) Landlord is formally advised by the existing tenant of Suite 525 that it will not extend its lease, or 2) it
becomes May 31, 2008 and the existing tenant has not extended its lease. Landlord shall provide Tenant with a prompt notice in the event that Suite 525 has become “Available Premises”. 
 b) For a period of fifteen (15) business days after receipt of Landlord’s notice that Suite 525 is Available Premises (the “Offer
Period”), Landlord and Tenant shall negotiate in good faith concerning the leasing of such Available Premises but neither party shall be obligated to enter into a lease of such space unless the parties mutually agree on the terms and conditions
of such lease. Such lease shall be upon market terms, taking into account, among other criteria: 1) a commencement date for Tenant’s lease of Suite 525 that is no later than 30 days after the expiry of the existing tenant’s lease thereof
and the existing tenant’s departure from said suite, 2) the term of Tenant’s lease of Suite 525 shall be five (5) years, 3) Tenant shall accept Suite 525 in its then as-is condition other than being entitled to apply to Suite 525 any
then-unused portion of the Tenant Improvement Allowance provided for Suites 360 and/or 370 in Section V above, 4) the then creditworthiness of Tenant, and 5) the fact that Tenant shall be entitled to terminate its lease of Suites 360 and 370
concurrently with the commencement of its lease of Suite 525. 
 c) Notwithstanding anything to the contrary contained, herein, all rights of
Tenant pursuant to this Section shall automatically terminate without notice and shall be of no further force and effect with respect to the then Available Premises, whether or not Tenant has timely exercised the option granted herein, if a Default
(as hereinafter defined) exists at the time of exercise of the option or at the time of commencement of the term for the Available Premises. 
 d) If Tenant is entitled to and properly exercises its Right of First Offer, Landlord shall prepare an amendment to reflect changes in the Base Rent, Term, Tenant Improvement Allowance and other appropriate terms. Tenant shall execute and
return the amendment to Landlord within ten (10) days after Tenant’s receipt of same. 
  

	IX.	Tenant represents and warrants that it has represented itself in the above transactions and that no brokerage commission will be due and payable by Landlord as a result hereof.

  

	X.	Except for those terms outlined above, all other terms and conditions of the Lease shall apply. 

  

	XI.	Except as modified hereby, the Lease is ratified and confirmed in its entirety. 

  

 3 

 In witness hereof, the parties have executed this Fourth Amendment as of the date noted below. 
  

									
	 TENANT:
 NovaBay Pharmaceuticals,
Inc.
 A California Corporation
	 		 	 LANDLORD:
 Emery Station Office II,
LLC
 A California Limited Liability Company

					
	By:	 	/s/ Jack O’Reilly	 		 	By:	 	/s/ Illegible
					
	Print Name:	 	Jack O’Reilly	 		 	Print Name:	 	Illegible
					
	Its:	 	CFO	 		 	Its:	 	Illegible
					
	Dated:	 	12/4/07	 		 	Dated:	 	12/5/07

  

 4

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