Document:

Second Lien Security Agreement

 EXHIBIT 10.9 
 EXECUTION COPY 
 AUTOVAXID, INC. SECOND-LIEN SECURITY AGREEMENT 
  

			
	To:	  	St. Louis New Markets Tax Credit Fund-II, LLC
		  	 c/o St. Louis Development Corporation
 1015 Locust
Street

		  	Suite 1200
		  	St. Louis, Missouri 63101
		  	Attention: Rodney Crim
	  
 Date: December 8, 2006

 To Whom It May Concern: 
 1. To secure the payment of all Obligations (as hereafter defined), AUTOVAXID, INC., a Florida corporation (the “Company”) hereby assigns and grants to St. Louis New Markets Tax Credit Fund-II, LLC
(the “CDE”) a subordinated continuing security interest in all of the following property now owned or at any time hereafter acquired by the Company, or in which the Company now has or at any time in the future may acquire any right,
title or interest (the “Collateral”): all cash, cash equivalents, accounts, accounts receivable, deposit accounts, inventory, equipment, goods, fixtures, documents, instruments (including, without limitation, promissory notes),
contract rights, commercial tort claims, general intangibles (including, without limitation, payment intangibles and an absolute right to license or sublicense on terms no less favorable than those current in effect among the Company’s
affiliates), chattel paper, supporting obligations, investment property (including, without limitation, all partnership interests, limited liability company membership interests and all other equity interests owned by any Assignor), letter-of-credit
rights, trademarks, trademark applications, tradestyles, patents, patent applications, copyrights, copyright applications and other intellectual property in which such Assignor now has or hereafter may acquire any right, title or interest, all
proceeds and products thereof (including, without limitation, proceeds of insurance) and all additions, accessions and substitutions thereto or therefor. All items of Collateral that are defined in the UCC shall have the meanings set forth in the
UCC. For purposes hereof, the term “UCC” means the Uniform Commercial Code as the same may, from time to time, be in effect in the State of New York; provided, that in the event that, by reason of mandatory provisions of law,
any or all of the attachment, perfection or priority of, or remedies with respect to, the CDE’s security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the
term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of this Agreement relating to such attachment, perfection, priority or remedies and for purposes of definitions
related to such provisions; provided further, that to the extent that the UCC is used to define any term herein and such term is defined differently in different Articles of the UCC, the definition of such term contained in Article 9 shall govern.

 2. The term “Obligations” as used herein shall mean and include all debts, liabilities and obligations owing by the
Company to the CDE arising under, out of, or in connection with 

 
that certain QLICI Loan Agreement dated of even date herewith between the CDE and the Company (the “QLICI Loan Agreement”) and the
promissory note from the Company to the CDE thereunder (the “Note”), and in connection with any notes, documents, instruments or agreements relating to or executed in connection with the QLICI Loan Agreement or any documents,
instruments or agreements referred to therein or otherwise, including, without limitation, obligations and liabilities of the Company for post-petition interest, fees, costs and charges that accrue after the commencement of any case by or against
such Assignor under any bankruptcy, insolvency, reorganization or like proceeding (collectively, the “Debtor Relief Laws”) in each case, irrespective of the genuineness, validity, regularity or enforceability of such Obligations, or
of any instrument evidencing any of the Obligations or of any collateral therefor or of the existence or extent of such collateral, and irrespective of the allowability, allowance or disallowance of any or all of the Obligations in any case
commenced by or against any Assignor under any Debtor Relief Law. 
 3. The liens and security interests created herein are second priority
liens, and are the only liens and security interests to which the Collateral is subject other than any prior lien, security interest or right of set-off (the “First Lien”) from AutovaxID to Laurus Master Fund, Ltd.
(“Laurus”) pursuant to that certain Master Security Agreement, dated March 31, 2006, among Laurus, Biovest International, Inc. and certain subsidiaries thereof (including, without limitation, the Company) (the
“First-Lien Security Agreement”) in order to secure the obligations from Biovest International, Inc. and its subsidiaries to Laurus (the “First-Lien Obligations”). Notwithstanding anything herein to the contrary
(and regardless of whether any provisions hereof are not specifically made subject to the First-Lien Security Agreement or the Subordination Agreement (as defined below)), all terms and conditions of this Agreement shall be subject to the terms of
that certain Subordination Agreement, dated as of the date hereof, by and among Laurus, the CDE, US Bancorp Community Investment Corporation, the Company and Biovest International, Inc. (the “Subordination Agreement”) Without
limiting the foregoing, all rights, remedies, privileges and benefits of the CDE hereunder shall be subject to the prior right of Laurus under the Documents (as such term is defined in the First-Lien Security Agreement), including without limitation
the right of Laurus to control and possess the Collateral and to retake, hold, prepare for sale and sell the Collateral. 
 4. The Company
hereby represents, warrants and covenants to the CDE that: 
 (a) it is a corporation validly existing, in good standing and
formed under the laws of the State of Florida; 
 (b) its legal name is as set forth herein in its Articles of Incorporation
or other organizational documents as amended through the date hereof, and it will provide the CDE with thirty (30) days’ prior written notice of any change in its legal name; 
 (c) it will provide the CDE thirty (30) days’ prior written notice of any change in its employer identification number;

 (d) it is the lawful owner of its Collateral and it has the sole right to grant a security interest therein, subject to the
prior written consent of Laurus, and will defend the Collateral against all claims and demands of all persons and entities, other than the First Lien; 
  

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 (e) it will keep its Collateral free and clear of all attachments, levies, taxes, liens,
security interests and encumbrances of every kind and nature (“Encumbrances”), except (i) the First Lien, (ii) Encumbrances securing the Obligations and (iii) Encumbrances securing indebtedness of the Company not to exceed
$50,000 in the aggregate; 
 (f) it will, at its cost and expense, keep the Collateral in good state of repair (ordinary wear
and tear excepted) and will not waste or destroy the same or any part thereof other than ordinary course discarding of items no longer used or useful in its business; 
 (g) it will not, without the CDE’s prior written consent, sell, exchange, lease or otherwise dispose of any Collateral, whether by
sale, lease or otherwise, except for the sale of inventory in the ordinary course of business and for the disposition or transfer in the ordinary course of business during any fiscal year of obsolete and worn-out equipment or equipment no longer
necessary for its ongoing needs, and only to the extent that: 
 (i) the proceeds of each such disposition are used to acquire
replacement Collateral which is subject to the security interest herein, or are used to repay the First-Lien Obligations, to repay the Obligations or to pay general corporate expenses; or 
 (ii) subject to the obligations of the Company under the First Lien Security Agreement, following the occurrence of an Event of Default
which continues to exist, the proceeds of which are remitted to the CDE to be held as cash collateral for the Obligations; 
 (h) it will insure or cause the Collateral to be insured in the CDE’s name (as an additional insured and loss payee, subject to Laurus’ right to insurance proceeds under the First-Lien Security Agreement) against loss or damage by
fire, theft, burglary and such other hazards as the CDE shall specify in amounts acceptable to the CDE and all premiums thereon shall be paid by the Company. If the Company fails to do so, the CDE may procure such insurance and the cost thereof
shall be promptly reimbursed by the Company, and shall constitute Obligations; 
 (i) it will at all reasonable times allow
the CDE or the CDE’s representatives free access to and the right of inspection of the Collateral; and 
 (j) it hereby
indemnifies and saves the CDE harmless from all loss, costs, damage, liability and/or expense, including reasonable attorneys’ fees, that the CDE may sustain or incur to enforce payment, performance or fulfillment of any of the Obligations
and/or in the enforcement of this Second-Lien Security Agreement or in the prosecution or defense of any action or proceeding either against the CDE concerning any matter growing out of or in connection with this Second-Lien Security Agreement,
and/or any of 

  

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the Obligations and/or any of the Collateral except to the extent caused by the CDE’s own default under the QLICI Loan Agreement, the Note or hereunder,
negligence, bad faith or willful misconduct. 
 5. The occurrence of any of the following events or conditions shall constitute an
“Event of Default” under this Second-Lien Security Agreement: 
 (a) any covenant or any other term or
condition of this Second-Lien Security Agreement is breached in any manner that would have a material adverse effect on the aggregate business operations of the Company or on the security interest granted hereunder, and such breach, to the extent
subject to cure, shall continue without remedy for a period of thirty (30) days after the occurrence thereof; 
 (b) any
representation or warranty, or statement made or furnished to the CDE under this Second-Lien Security Agreement by the Company or on the Company’s behalf should prove at any time to be false or misleading on the date as of which made or deemed
made in any manner that would have a material adverse effect on the aggregate business operations of the Company or on the security interest granted hereunder; 
 (c) the loss, theft, substantial damage, destruction, sale or encumbrance to or of any of the Collateral or the making of any levy,
seizure or attachment thereof or thereon except to the extent: 
 (i) such loss is covered by insurance proceeds which are
used to replace the item, repay Laurus or repay the CDE; or 
 (ii) said levy, seizure or attachment does not secure
indebtedness in excess of $100,000 and such levy, seizure or attachment has been removed or otherwise released within ten (10) days of the creation or the assertion thereof; 
 (d) an Event of Default shall have occurred under and as defined in the QLICI Loan Agreement and the Note. 
 6. Upon the occurrence of any Event of Default and at any time thereafter, the CDE may declare all Obligations immediately due and payable and the CDE
shall have the remedies of a secured party provided in the UCC as in effect in the State of New York, this Agreement and other applicable law, subject to the First Lien. Upon the occurrence of any Event of Default and at any time thereafter, the CDE
will have the right to take possession of the Collateral and to maintain such possession the Company’s premises or to remove the Collateral or any part thereof to such other premises as the CDE may desire, so long as the First-Lien Obligations
have been satisfied. Upon the CDE’s request, but subject to the Laurus’ rights under the First-Lien Security Agreement, the Company shall assemble or cause the Collateral to be assembled and make it available to the CDE at a place
designated by the CDE. Subject to the First Lien, any proceeds of any disposition of any of the Collateral shall be applied by the CDE to the payment of all expenses in connection with the sale of the Collateral, including reasonable attorneys’
fees and other legal expenses and disbursements and the reasonable expenses of retaking, holding, preparing for sale, selling, and the like, and any balance of such proceeds may be applied by the CDE toward the payment of the Obligations in such
order of application as the CDE may elect, 

  

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and the Company shall be liable for any deficiency. The parties hereto each hereby agree that the exercise by any party hereto of any right granted to
it or the exercise by any party hereto of any remedy available to it (including, without limitation, the issuance of a notice of redemption, a borrowing request and/or a notice of default), in each case, hereunder, under the QLICI
Loan Agreement or under any other document which has been publicly filed with the SEC shall not constitute confidential information and no party shall have any duty to the other party to maintain such information as confidential.

 7. The Company appoints the CDE or any other person or entity whom the CDE may designate as the Company’s attorney, with power to
execute such documents on the Company’s behalf and to supply any omitted information and correct patent errors in any documents executed by any Assignor or on any Assignor’s behalf; to file financing statements against such Assignor
covering the Collateral (and, in connection with the filing of any such financing statements, describe the Collateral as “all assets and all personal property, whether now owned and/or hereafter acquired” (or any substantially similar
variation thereof)); to sign the Company’s name on public records; and to do all other things the CDE deem necessary to carry out this Second-Lien Security Agreement. The Company hereby ratifies and approves all acts of the attorney and neither
the CDE nor the attorney will be liable for any acts of commission or omission, nor for any error of judgment or mistake of fact or law other than negligence, bad faith or willful misconduct. This power being coupled with an interest, is irrevocable
so long as any Obligations remains unpaid. 
 8. No delay or failure on the CDE’s part in exercising any right, privilege or option
hereunder shall operate as a waiver of such or of any other right, privilege, remedy or option, and no waiver whatever shall be valid unless in writing, signed by the CDE and then only to the extent therein set forth, and no waiver by the CDE of any
default shall operate as a waiver of any other default or of the same default on a future occasion. Subject to the First Lien, the CDE shall have the right to enforce any one or more of the remedies available to the CDE, successively, alternately or
concurrently. The Company agrees to join with the CDE in executing documents or other instruments to the extent required by the UCC in form satisfactory to the CDE, and in executing such other documents or instruments as may be required or deemed
necessary by the CDE for purposes of affecting or continuing the CDE’s security interest in the Collateral. 
 9. The Company shall pay
all of the CDE’s out-of-pocket costs and expenses, including reasonable fees and disbursements of in-house or outside counsel and appraisers, in connection with the prosecution or defense of any action, contest, dispute, suit or proceeding
concerning any matter in any way arising out of, related to or connected with any the QLICI Loan Agreement, the Note or this Second-Lien Security Agreement. The Company shall also pay all of the CDE’s reasonable fees, charges, out-of-pocket
costs and expenses, including fees and disbursements of counsel and appraisers, in connection with (a) the preparation, execution and delivery of any waiver, any amendment thereto or consent proposed or executed in connection with this
Second-Lien Security Agreement, (b) the enforcement or defense of the CDE’s security interests, assignments of rights and liens hereunder as valid perfected security interests, (c) any attempt to protect, collect, sell, liquidate or
otherwise dispose of any Collateral, and (d) any consultations in connection with any of the foregoing. All such costs and expenses together with all filing, recording and search fees, taxes and interest payable by the Company to the CDE shall
be payable on demand and shall be secured by the Collateral. 
  

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 10. THIS SECOND-LIEN SECURITY AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. All of the rights, remedies, options, privileges and elections given to the CDE hereunder shall inure
to the benefit of the CDE’s successors and assigns. 
 11. The Company hereby consents and agrees that the state of federal courts
located in the County of New York, State of New York shall have exclusive jurisdiction to hear and determine any claims or disputes between the Company, on the one hand, and the CDE, on the other hand, pertaining to this Second-Lien Security
Agreement or to any matter arising out of or related to this Second-Lien Security Agreement, provided, that the CDE and the Company each acknowledges that any appeals from those courts may have to be heard by a court located outside of the County of
New York, State of New York, and further provided, that nothing in this Second-Lien Security Agreement shall be deemed or operate to preclude the CDE from bringing suit or taking other legal action in any other jurisdiction to collect, the
Obligations, to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of the CDE. The Company expressly submits and consents in advance to such jurisdiction in any action or suit
commenced in any such court, and the Company hereby waives any objection which it may have based upon lack of personal jurisdiction, improper venue or forum non conveniens. 
 12. The parties desire that their disputes be resolved by a judge applying such applicable laws. Therefore, to achieve the best combination of the
benefits of the judicial system and of arbitration, the parties hereto waive all rights to trial by jury in any action, suite, or proceeding brought to resolve any dispute, whether arising in contract, tort, or otherwise between the CDE an the
Company in connection with this Second-Lien Security Agreement or the transactions related hereto. 
 13. All notices from the CDE to the
Company shall be sufficiently given if provided to the Company in the manner set forth in the QLICI Loan Agreement. 
  

			
	Very truly yours,
	
	AUTOVAXID, INC.
		
	By:	 	 /s/ Steven Arikian

	Name:	 	Steven Arikian, M.D.
	Title:	 	Chairman & CEO

  

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	ACKNOWLEDGED:
	
	 ST. LOUIS NEW MARKETS TAX
 CREDIT FUND-II,
LLC

		
	By:	 	St. Louis Development Corporation, its Managing Member
		
	By:	 	 /s/ Rodney Crim

	Name:	 	Rodney Crim
	Title:	 	Executive Director

  

 - 7 -Tax Credit Reimbursement and Indemnity Agreement

 EXHIBIT 10.10 
 TAX CREDIT REIMBURSEMENT AND INDEMNITY AGREEMENT 
 THIS TAX CREDIT REIMBURSEMENT AND INDEMNITY
AGREEMENT (this “Agreement”), dated as of December 8, 2006, is by and among AUTOVAXID, INC., a Florida corporation, (“Borrower” or “Indemnitor”), having an address at 377
Plantation Street, Worcester, Massachusetts 01605, for the benefit of U.S. BANCORP COMMUNITY INVESTMENT CORPORATION, a Delaware corporation (the “Investor”), whose address is 1307 Washington Ave., Suite 300, St. Louis,
Missouri 63103, or at such other address as it shall designate. 
 RECITALS 
 St. Louis New Markets Tax Credit Fund-II, LLC, a Missouri limited liability company (the “CDE”), has received a sub-allocation of
New Markets Tax Credits (the “Tax Credits”) under Section 45D of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder (collectively, the “Code”).

 AutovaxID Investment LLC, a Missouri limited liability company (the “Fund”) has contributed equity to the CDE (the
“QEI Contribution”), which equity is expected to constitute a “qualified equity investment” (“QEI”) under the New Markets Tax Credit program authorized by Section 45D of the Code (the
“NMTC Program”) and administered by the Community Development Financial Institutions Fund of the United States Treasury Department (together with any successor agency, the “CDFI Fund”). 
 The QEI Contribution is being funded in part with the proceeds of equity contributed to the Fund by the Investor. The proceeds of the QEI Contribution
will be used by the CDE to fund a loan to Borrower in the aggregate amount of $7,700,000 (the “CDE Loan”), which is expected to constitute a “qualified low-income community investment”
(“QLICI”) under the NMTC Program. 
 The documents evidencing or securing the CDE Loan are hereinafter collectively
referred to as the “Investment Documents”. 
 The Tax Credits claimable by the Investor in connection with the QEI
Contribution have allowed the Fund to provide the QEI Contribution to the CDE on more favorable terms, which in turn has allowed the CDE to provide the CDE Loan to Borrower on more favorable terms and, as a result, Borrower believes that it shall
substantially benefit, directly or indirectly, from the making of the QEI Contribution. 
 The Borrower is primarily engaged in the business
of manufacturing an automated cell culture instrument currently in clinical trial, within United States population census tract number 29510113500 which constitutes a Low-Income Community under the NMTC Program (the “Project
Area”); and 
 The proceeds of the CDE Loan will be used to finance certain activities of Borrower associated with the foregoing
activities. 

 As a condition of making the QEI Contribution, the Investor has required the Indemnitor to indemnify it
as herein set forth and is making the QEI Contribution in reliance on the Indemnitor’s agreement to do so. 
 AGREEMENT

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Indemnitor hereby agree for the benefit of the Investor as follows: 
 DEFINITIONS 
 “Final Determination” means the first to occur of: (i) the filing of a federal information return reporting a Recapture
Event by the CDE, the Fund, or the Investor; (ii) a decision, judgment or decree or other order issued by any court of competent jurisdiction confirming the assertion by the IRS that a Recapture Event has occurred, which decision, judgment,
decree or other order has become final (i.e., all allowable appeals have been exhausted); or (iii) any binding settlement in writing is made between the CDE, the Fund or the Investor and the IRS. 
 “Financial Forecast” shall mean the projections prepared by the Fund’s accountants and attached as Exhibit A, of anticipated
federal income tax income, gain, losses, deductions and credits, as well ad Net Cash Flow and Liquidation, Sale of Refinancing Proceeds (as each term is defined in the Fund Operating Agreement) that, as of the date hereof, are expected to be
realized by Investor pursuant to the QEI Contribution and the CDE Loan. 
 “Fund Operating Agreement” shall mean the
Amended and Restated Operating Agreement, dated as of December 8, 2006, of the Fund, as the same may be amended. 
 “IRS” means the United States Internal Revenue Service. 
 “Minimum Return
Shortfall” shall mean, as of any date, the amount necessary to be paid to the Investor for the Investor to achieve the after tax internal rate of return anticipated by the Investor in connection with the QEI Contribution, as reflected
in the Financial Forecast, taking into account: (i) the Investor’s capital contributions to the Fund, (ii) all distributions to the Investor by the Fund and payments to the Investor pursuant to this Agreement, (iii) all amounts
paid or to be paid by the Investor to the IRS, and reasonable expenses incurred by the Investor, in connection with, or in defending against, a Recapture Event, (iv) all items of income, gain, loss and deduction and credit allocated to the
Investor under the Fund Agreement or incurred by the Investor by reason of payments, expenses or distributions covered by clauses (ii) or (iii) above or in connection with the exercise of any put or call option or the loss, transfer or
abandonment or the Investor’s interest in the Fund or the CDE, and presuming for this purpose the full ability of the Investor to utilize the tax credits and tax losses and a presumed 38% federal tax rate for the Investor. The determination of
the Minimum Return Shortfall shall be made using the methodology used in the Financial Forecasts, to the extent not inconsistent with this definition. 
  

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 1. Covenants, Representations and Warranties. 
 Borrower represents and warrants to and covenants and agrees with the Investor as follows: 
 (a) each representation and warranty made by it in any of the Investment Documents to which it is a party is true and correct in all material respects and
the Investor may rely thereon; 
 (b) it shall not take any action or omit to take any action that would cause the Borrower to cease to
qualify as a “qualified active low-income community business” (“QALICB”) as such term is defined in Section 45D of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations and guidance
thereunder; 
 (c) the execution, delivery and performance by it of this Agreement does not and will not contravene or conflict with any law,
order, rule, regulation, writ, injunction or decree now in effect of any government, governmental instrumentality or court or tribunal having jurisdiction over it, or any contractual restriction binding on or affecting it; 
 (d) there are no facts or circumstances of any kind or nature whatsoever of which it is aware that could in any way impair or prevent it from performing
its obligations under this Agreement; 
 (e) any and all financial information with respect to it that it has given to the Investor in
connection with the transactions contemplated by this Agreement fairly and accurately present its financial condition and results of operations as of the respective dates thereof and for the respective dates indicated therein, and, since the
respective dates thereof, there has been no material adverse change in the financial condition or results of its operations; 
 (f) with the
assistance of counsel of its choice, it has read and reviewed this Agreement and such other documents as it and its counsel deemed necessary or desirable to read; 
 (g) it is a corporation, validly organized and existing and in good standing under the laws of the jurisdiction of its incorporation (and all other jurisdictions where its failure to be so qualified would have a
material adverse effect on its financial condition or results of operations) and has the full power and authority to enter into and perform its obligations under this Agreement; and 
 (h) this Agreement has been duly authorized, executed and delivered on behalf of Borrower and is fully enforceable against it in accordance with its
terms, except to the extent enforceability is limited by bankruptcy and other similar laws affecting creditors rights generally. 
 2.
Reimbursement and Indemnity Obligation. 
 (a) The Indemnitor shall pay the Recapture Amount (as defined in Section 2(c))
upon a Recapture Event; provided, that such payment shall be subordinated to the Borrower’s obligations to Laurus Master Fund, Ltd., a Cayman Islands company (the “Senior  

  

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Lender”), as described in and on the terms set forth in that certain Subordination Agreement, dated as of or about the date hereof, by and
among Senior Lender, the CDE, the Investor, the Borrower and Biovest International, Inc. 
 (b) A “Recapture Event”
shall occur upon: (i) a Final Determination evidencing a recapture, disallowance or other loss of the Tax Credits attributable to the QEI Contribution, if such recapture, disallowance or other loss is due to the failure of the CDE Loan to
constitute a QLICI, either on the date hereof or subsequently, or (ii) a payment of principal under the CDE Loan (for which purpose it will be assumed that the full amount of such payment will be distributed by the CDE to its members and no
reinvestment of such amounts will be made, and neither the failure to reinvest nor any actual reinvestment shall be a defense to, or otherwise reduce, the payment hereunder, unless a reinvestment qualifying as a QLICI is presented by the Borrower
and approved by the Investor pursuant to the terms of the Investment Documents. 
 (c) The Recapture Amount shall equal the sum of
(i) the Minimum Return Shortfall as of the date of the Final Determination and (ii) reasonable out of pocket costs and expenses incurred by Investor in defending or processing any claim or audit covered by this Agreement. 
 (d) All computations required under this Section 2 shall be made by the Investor, and the results of such computations, together with a statement
describing in reasonable detail the manner in which such computations were made, shall be delivered to the Indemnitor in writing. 
 (e)
Investor covenants and agrees that it will promptly give written notice to the Indemnitor of the occurrence of any audit by the IRS of the Investor or any owner, directly or indirectly of any interest therein, if the adverse resolution of such audit
(or portion thereof) would result in liability for the Indemnitor under this Agreement (such audits or relevant portions thereof being hereinafter referred to as an “NMTC Audit”). Upon request by the Indemnitor, the Investor
shall permit the Indemnitor to file written materials (provided the same shall have been approved by the Investor) with the IRS in connection with any NMTC Audit or any tax administrative or judicial appeals process relating to any NMTC Audit. The
Investor shall consult in good faith with the Indemnitor regarding the nature and content of all actions to be taken and defenses to be raised in response to any NMTC Audit. In addition, Investor shall not agree to any proposed Determination (a
“Proposed Determination”) in connection with any NMTC Audit until it shall have obtained the consent of the Indemnitor regarding such action; provided, however, that the Indemnitor agrees to, and continues to, fund as
incurred the out of pocket costs incurred in any continuing contest or audit with respect to the matter of the Proposed Determination. 
 (f)
Notwithstanding anything herein to the contrary, the Indemnitor shall not have any liability hereunder with respect to any Recapture Amount to the extent such Recapture Amount is attributable to (i) changes in the Code or Treasury Regulations
which cause the Investor to receive less than the amount of Tax Credits it would have otherwise been eligible to receive (except to the extent that the adverse effects thereof could reasonably have been mitigated by Borrower), or (ii) the
failure of the CDE to remain certified as a Community Development Entity (except to the extent that such failure is a result of the Indemnitor’s actions or inaction). 
  

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 (g) The Indemnitor shall pay the Investor interest on all amounts due hereunder at an annual rate equal
to the lesser of (a) 10 percent (10%), or (b) the highest rate permitted by law from the time of a Recapture Event until such time as the Investor has been compensated in full for such losses. 
 3. Attorneys’ Fees and Expenses. The Indemnitor shall severally reimburse the Investor for all reasonable attorneys’ fees and
expenses which the Investor pays or incurs in connection with enforcing this Agreement, whether or not suit is filed. 
 4. No
Fiduciary Duty. The Indemnitor acknowledges that the Fund is a member of the CDE. Notwithstanding such affiliation, Indemnitor agrees as follows: (a) no partnership or joint venture relationship exists between the Fund and the
Indemnitor; (b) the Fund owes no fiduciary or other duty to the Indemnitor, except for any obligations of the Fund set forth in this Agreement, and (c) the exercise by the Investor, directly or through the Fund, of any of its rights or
remedies under the Operating Agreement of the CDE (the “Operating Agreement”) shall not serve to reduce or discharge the liability of any Indemnitor hereunder, except to the extent of any recovery actually realized by the
Investor in cash; provided, however that the Investor shall have no obligation to exercise any of its rights or remedies under the Operating Agreement. The Indemnitor waives and releases any claim each may now or hereafter have against the Investor
based on any theory or cause of action that conflicts with the agreements of the parties set forth in this Section 4. 
 5. Waiver
and Estoppel. The Indemnitor knowingly waives and agrees that it will be estopped from asserting any argument to the contrary as follows: (a) any and all notice of acceptance of this Agreement or of the creation, renewal or accrual of
any of the obligations or liabilities hereunder indemnified against, either now or in the future; (b) protest, presentment, demand for payment, notice of default or nonpayment, notice of protest or default; (c) any and all notices or
formalities to which it may otherwise be entitled, including, without limitation, notice of the granting of any indulgences or extensions of time of payment of any of the liabilities and obligations hereunder and hereby indemnified against;
(d) any promptness in making any claim or demand hereunder; (e) the defense of the statute of limitations in any action hereunder or in any action for the collection of amounts payable hereunder (provided, however, that it shall be a
defense hereunder that the IRS is prohibited by the running of applicable statutes of limitations and otherwise from assessing additional tax liability against the Investor or any of its members for every year in which Tax Credits attributable to
the QEI Contribution shall have been claimed); (f) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other person or persons or the failure to file or enforce a claim against the estate (in
administration, bankruptcy or any other proceeding) of any other person or persons; (g) any defense based upon an election of remedies which destroys or otherwise impairs any or all of the subrogation rights of the Investor or the right of the
Investor to proceed against any other person for reimbursement, or both; (h) any duty or obligation of the Investor to perfect, protect, retain or enforce any security for the payment of amounts payable by the Indemnitor hereunder or to proceed
against any one or more persons as a condition to proceeding against the Indemnitor; and (i) any principle or provision of law, statutory or otherwise, which is or might be in conflict 

  

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with the terms and provisions of this Agreement. No delay or failure on the part of the Investor in the exercise of any right or remedy against the CDE or
any other party against whom the Investor may have any rights shall operate as a waiver of any agreement or obligation contained herein, and no single or partial exercise by the Investor of any rights or remedies hereunder shall preclude other or
further exercise thereof or other exercise of any other right or remedy. No provision of this Agreement or right of the Investor hereunder can be waived, nor can the Indemnitor be released from such party’s obligations hereunder, except by a
writing duly executed by the Investor. This Agreement may not be modified, amended, revised, revoked, terminated, changed or varied in any way whatsoever, except by the express terms of a writing duly executed by the Investor. 
 6. Notices. All notices, demands, requests or other communications to be sent by one party to the other hereunder or required by law shall
be in writing and shall be deemed to have been validly given or served upon delivery of same in person to the addressee or by depositing same with a nationally recognized overnight courier service for next business day delivery or by depositing same
in the United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed as provided for above; provided further that copies of all such notices shall be provided to the CDE as follows: 
  

			
	CDE:	  	St. Louis New Markets Tax Credit Fund-II, LLC
		  	1015 Locust Street, Suite 1200
		  	St. Louis, MO 63101
		  	Attention: Rodney Crim
		  	Phone: (314) 622-3400
		  	Facsimile: (314) 259-3442
		
	With a copy to:	  	Bryan Cave LLP
		  	One Metropolitan Square
		  	211 North Broadway, suite 3600
		  	St. Louis, Mo 63102-2750
		  	Attention: Mary Gassmann Reichert, Esquire
		  	Phone: (314) 259-2188
		  	Facsimile: (314) 259-2020

 All notices, demands and requests shall be effective upon personal delivery or upon being deposited with a
nationally recognized courier service or in the United States mail as required above. However, with respect to notices, demands or requests so deposited with Federal Express or in the United States mail, the time period in which a response to any
such notice, demand or request must be given shall commence to run from the next business day following any such deposit with a nationally recognized courier service or, in the case of a deposit in the United States mail as provided above, the date
on the return receipt of the notice, demand or request reflecting the date of delivery or rejection of the same by the addressee thereof. Rejection or other refusal to accept or the inability to deliver because of changed address of which no notice
was given shall be deemed to be receipt of the notice, demand or request sent. By giving to the other party hereto at least fifteen (15) days’ written notice thereof in accordance with the provisions hereof, the parties hereto shall have
the right from time to time to change their respective addresses and each shall have the right to specify as its address any other address within the United States of America. 
  

 - 6 - 

 7. Liability. The amount of Indemnitor’s liability and all rights, powers and remedies
of the Investor hereunder shall be cumulative and not alternative, and such rights, powers, and remedies shall be in addition to all rights, powers and remedies given to the Investor under the Operating Agreement, any document or agreement relating
in any way to the terms and provisions thereof or otherwise by law. In no event, however shall the Investor have recourse to any current or successor general partner of the Indemnitor, any direct or indirect constituent of any such general partner,
or the assets of any such general partner or any such direct or indirect constituent of any such general partner, with respect to any liability under this Agreement. The liability of the Indemnitor under this Agreement is independent of the
obligations of any other party which may be initially or otherwise responsible for performance or payment of the obligations hereunder, and, in the event of any default hereunder, a separate action or actions may be brought and prosecuted against
the Indemnitor. The Investor may maintain successive actions for other defaults. The Investor’s rights hereunder shall not be exhausted by its exercise of any of its rights or remedies or by any such action or by any number of successive
actions until and unless the obligations indemnified hereunder has been paid in full. 
 8. Assignment. If any or all of the
right to claim Tax Credits is assigned by any Investor, this Agreement shall automatically be assigned therewith in whole or in part, as applicable, without the need of any express assignment, and, when so assigned, the Indemnitor shall be bound as
set forth herein to the assignee(s) without in any manner affecting any Indemnitor’s liability hereunder with respect to any rights hereunder retained by the Investor. This Agreement shall be binding upon the Indemnitor and its respective
heirs, executors, administrators, legal representatives, successors and assigns and shall inure to the benefit of the Investor and its successors and assigns. 
 9. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (the “State”) without regard to principles of conflicts of
law, except to the extent that any of such laws may now or hereafter be preempted by Federal law, in which case, such Federal law shall so govern and be controlling. In any action brought under or arising out of this Agreement, the Indemnitor hereby
consents to the jurisdiction of any competent court within the State and consents to service of process by any means authorized by the laws of the State. Except as provided in any other written agreement now or at any time hereafter in force between
the Investor and the Indemnitor, this Agreement shall constitute the entire agreement of the Indemnitor with the Investor with respect to the subject matter hereof, and no representation, understanding, promise or condition concerning the subject
matter hereof shall be binding upon the Investor and the Indemnitor unless expressed herein. 
 10. Duration. The Indemnitor
hereby agrees that this Agreement, and all other obligations guaranteed hereby, shall remain in full force and effect at all times hereinafter until the date upon which it is paid and performed in full; provided, however, that Indemnitor’s
obligations hereunder shall terminate in their entirety at the end of the period of limitations for assessing federal income tax with respect to the Investor’s tax return which is filed for the year in which the seven-year credit period
applicable to each QEI made by the Fund in the CDE ends. 
  

 - 7 - 

 11. Financial Statements. Upon written request of the Investor, the Indemnitor shall
provide to the Investor copies of any financial statements or other reports that it is obligated to provide to Lender pursuant to the Investment Documents. The Indemnitor further covenants and agrees to immediately notify the Investor of any change
in its financial condition that adversely and materially affects the ability of the Indemnitor to perform under the Investment Documents or this Agreement. 
 12. Miscellaneous. 
 (a) Should any one or more provisions of this Agreement be determined to
be illegal or unenforceable, all other provisions shall nevertheless be effective. 
 (b) When the context and construction so require, all
words used in the singular herein shall be deemed to have been used in the plural, and the masculine shall include the feminine and neuter and vice versa. The word “person,” as used herein, shall include any individual, company, firm,
association, limited liability company, corporation, trust or other legal entity of any kind whatsoever. 
 (c) The obligations of the
Indemnitor contained herein are undertaken solely and exclusively for the benefit of the Investor and its successors and assigns, and no other person or entities shall have any standing to enforce such obligations or be deemed to be beneficiaries of
such obligations. 
 (d) This Agreement may be executed in any number of counterparts, each of which shall be effective only upon delivery
and thereafter shall be deemed to be an original, and all of which, when taken together, shall be one and the same instrument, with the same effect as if all parties hereto had signed the same signature page. Any signature page of this Agreement may
be detached from any counterpart of this Agreement without impairing the legal effect of any signatures thereon and may be attached to another counterpart of this Agreement identical in form hereto but having attached to it one or more additional
signature pages. Execution of this Agreement by the Indemnitor shall bind the Indemnitor. 
  

 - 8 - 

 IN WITNESS WHEREOF, the Indemnitor and the Investor have caused this Agreement to be duly executed
as of the day and year first above written. 
  

			
	INDEMNITOR:
	
	AUTOVAXID, INC., a Florida corporation
		
	By:	 	 /s/ Steven Arikian

	Name:	 	Steven Arikian, M.D.
	Title:	 	Chairman & CEO
	
	INVESTOR:
	
	U.S. BANCORP COMMUNITY INVESTMENT CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Matthew Philpott

	Name:	 	Matthew Philpott
	Title:	 	Business Development Associate

 BORROWER ACKNOWLEDGEMENT 
  

			
	STATE OF NEW YORK	  	)
		  	) SS:
	COUNTY OF NEW YORK	  	)

 On the 8th day of December, in the year 2006 before me, the undersigned, personally appeared
Steven Arikian, personally known to me of proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), of the person upon behalf of which the individual(s) acted, executed the instrument. 
  

	
	 /s/ Annis Kwok

	Notary Public

 INVESTOR ACKNOWLEDGEMENT 
  

			
	STATE OF MISSOURI	  	)
		  	) SS:
	COUNTY OF ST. LOUIS CITY	  	)

 On the 5th day of December, in the year 2006 before me, the undersigned, personally appeared Matthew Philpott, personally known to me of proved to me on the basis of satisfactory evidence to be the individual(s)
whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), of the person upon
behalf of which the individual(s) acted, executed the instrument. 
  

	
	 /s/ Ashley Weser

	Notary Public

 Exhibit A 
 FINANCIAL FORECAST 
 [Attached]

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