Document:

Exhibit 10.155

 

AMENDMENT

 

This Amendment (“Amendment”) to the Investment Agreement
(“Investment Agreement) and Registration Rights Agreement (“Registration Rights Agreement”) dated March 28, 2014,
and subsequent amendments dated May 9th, 2014 and September 4th, 2014 between Dutchess Opportunity Fund,
II, LP ("Dutchess") and VG Life Sciences, Inc., (the "Company") is made this 5th day of February,
2015.

 

WHEREAS, it is in the best interest
of both parties to facilitate (the "Facilitation") the amendments in connection with the Investment Agreement.

 

NOW, THEREFORE, in consideration of
the premises and mutual covenants and agreements set forth herein and in reliance upon the representations and warranties contained
herein, the parties hereto covenant and agree as follows:

 

		1.	Amendment to the Investment Agreement.

 

		a.	The Investment Agreement is hereby amended to DELETE in its entirety Section 4 (D) and contemporaneously
the Investment Agreement is hereby amended to INSERT the following paragraph as the amended Section 4 (D):

 

(D) ISSUANCE OF SHARES. The Company will reserve
up to 5,000,000 Shares for issuance pursuant to this Agreement, which have been duly authorized and reserved for issuance (subject
to adjustment pursuant to the Company’s covenant set forth in Section 5(F) below) pursuant to this Agreement. Upon issuance
in accordance with this Agreement, the Securities will be validly issued, fully paid for and non-assessable and free from all taxes,
liens and charges with respect to the issue thereof. In the event the Company cannot register a sufficient number of shares for
issuance pursuant to this Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of
Shares required for the Company to perform its obligations hereunder as soon as reasonably practicable.

 

		2.	Amendment to the Registration Rights Agreement.

 

		a.	The Registration Rights Agreement is hereby amended to DELETE in its entirety Section 2 (a) and
contemporaneously the Registration Rights Agreement is hereby amended to INSERT the following paragraph as the amended Section
2 (a):

 

(a) Subject to Section
3(g), the Company shall, within three (3) months after the date of this Agreement, file with the SEC the Registration Statement
or Registration Statements (as is necessary) on Form S-1 (or, if such form is unavailable for such a registration, on such other
form as is available for such registration), covering the resale of all of the Registrable Securities, which Registration Statement(s)
shall state that, in accordance with Rule 416 promulgated under the 1933 Act, such Registration Statement also covers such indeterminate
number of additional shares of Common Stock as may become issuable upon stock splits, stock dividends or similar transactions.
The Company will initially register for resale up to 5,000,000 shares of Common Stock, except to the extent that the SEC requires
the share amount to be reduced as a condition of effectiveness.

 

    	 

    	 

    

 

		b.	The Registration Rights Agreements if hereby amended to DELETE in its entirety the first recital which can be found at page
1, paragraph 2 of the Registration Rights Agreement, and contemporaneously the Registration Rights Agreement is hereby amended
to INSERT the following paragraph as the amended first recital which can be found at page 1, paragraph 2 of the Registration Rights
Agreement:

 

Whereas, in connection with the Investment
Agreement by and between the Company and the Investor of this date (the “Investment Agreement”), the Company has agreed
to reserve and sell to the Investor up to 5,000,000 shares of the Company’s Common Stock, $.0001 par

value per share (the “Common Stock”), to be purchased
pursuant to the terms and subject to

the conditions set forth in the Investment Agreement; and

 

		3.	No other terms, rights or provisions of the Investment Agreement or Registration Rights Agreement
are or should be considered to have been modified by the terms of this Amendment and each party retains all other rights, obligations,
privileges and duties contained in Investment Agreement and Registration Rights Agreement that correspond respectively to the Registration
Rights Agreement including but not limited to the Investment Agreement between the Company and Dutchess.

 

 

 

Agreed and Accepted, and duly authorized to
sign, on this 5th day of February, 2015.

 

By Dutchess: /s/ D. H. Leighton                                                

Douglas H. Leighton, Managing Director

 

 By Company: /s/ John P.
Tynan                                                                

John Tynan, President and
Chief Executive Officer

 

 

 

 

 

    	2Exhibit 10.23.1 (PRSU 2013-15 Cycle)

EXHIBIT A
Maximum Number of Performance Shares and Allocation to Performance Periods

The Participant shall be eligible to earn up to the following number of Performance Shares identified opposite each Performance Period below:
	
				
	Performance Period
	Maximum Number of Performance Shares That May be Earned
	Target Number of Performance Shares That May be Earned
	Threshold Number of Performance Shares That May be Earned

	October 1, 2012 - September 30, 2013
	 
	 
	 

	October 1, 2013 - September 30, 2014
	 
	 
	 

	October 1, 2014 - September 30, 2015
	 
	 
	 

	
				
	Award Cycle
	Maximum Number of Performance Shares That May be Earned
	Target Number of Performance Shares That May be Earned
	Threshold Number of Performance Shares That May be Earned

	October 1, 2012 - September 30, 2015
	 
	 
	 

Performance Criteria
General
The Performance Shares shall be earned as set forth below with respect to the applicable Performance Period; provided that the Company’s RONA for the applicable Performance Period equals or exceeds the Target RONA (as set forth below) for such Performance Period.  “RONA” means the quotient obtained by dividing “Adjusted Operating Income” (after taxes but excluding amortization) by the monthly average of “Working Capital” and fixed assets, as derived from the Company’s financial statements, with such adjustments as the Committee establishes in writing at the time it establishes the Target RONA, Threshold RONA and Maximum RONA for such Performance Period.  “Adjusted Operating Income” for this purpose means income from operations adjusted to remove primarily restructuring charges.  “Working Capital” for this purpose means the average of adjusted current assets less adjusted current liabilities, which measures exclude cash and cash equivalents, debt and items reported as held for sale.
“Target RONA”, “Threshold RONA” and “Maximum RONA”, in each case means the specific fiscal year-over-year improvement in RONA, expressed as a percentage, established by the Committee for the applicable Performance Period.  Notwithstanding the foregoing, if the Company’s RONA for the Performance Period exceeds Threshold RONA, but does not meet the percentage for Target RONA or Maximum RONA, then the Performance Shares award for such Performance Period shall be interpolated on a straight-line basis between Threshold RONA and Maximum RONA.  For the avoidance of doubt, if RONA for the Performance Period is below Threshold RONA, no Performance Shares shall be granted for such Performance Period.
The Committee will develop the performance criteria for subsequent Performance Periods in the Award Cycle annually within the time period for developing performance goals under the regulations under Code Section 162(m).  An amended Exhibit A describing the performance criteria for a particular Performance Period will be provided to each Participant prior to the end of the first quarter of that Performance Period and will automatically become a part of this Agreement.
Performance Goals for Performance Period October 1, 2012 to September 30, 2013
	
				
	Performance Level
	Fiscal 2013 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	22.82%
	200%
	 

	Target
	11.41%
	100%
	 

	Threshold
	7.6%
	50%
	 

	Below Threshold
	NA
	0%
	 

Performance Goals for Performance Period October 1, 2013 to September 30, 2014
	
					
	Performance Level
	Fiscal 2014 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	16
	%
	200%
	 

	Target
	8
	%
	100%
	 

	Threshold
	4
	%
	50%
	 

	Below Threshold
	NA
	

	0%
	 

Performance Goals for Performance Period October 1, 2014 to September 30, 2015
	
					
	Performance Level
	Fiscal 2015 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	28.55
	%
	200%
	 

	Target
	8
	%
	100%
	 

	Threshold
	4
	%
	50%
	 

	Below Threshold
	NA
	

	0%Exhibit 10.24.1 (PRSU 2014-16 Cycle)

EXHIBIT A
Maximum Number of Performance Shares and Allocation to Performance Periods

The Participant shall be eligible to earn up to the following number of Performance Shares identified opposite each Performance Period below:
	
				
	Performance Period
	Maximum Number of Performance Shares That May be Earned
	Target Number of Performance Shares That May be Earned
	Threshold Number of Performance Shares That May be Earned

	October 1, 2013 - September 30, 2014
	 
	 
	 

	October 1, 2014 - September 30, 2015
	 
	 
	 

	October 1, 2015 - September 30, 2016
	 
	 
	 

	
				
	Award Cycle
	Maximum Number of Performance Shares That May be Earned
	Target Number of Performance Shares That May be Earned
	Threshold Number of Performance Shares That May be Earned

	October 1, 2013 - September 30, 2016
	 
	 
	 

Performance Criteria
General
The Performance Shares shall be earned as set forth below with respect to the applicable Performance Period; provided that the Company’s RONA for the applicable Performance Period equals or exceeds the Target RONA (as set forth below) for such Performance Period.  “RONA” means the quotient obtained by dividing “Adjusted Operating Income” (after taxes but excluding amortization) by the monthly average of “Working Capital” and fixed assets, as derived from the Company’s financial statements, with such adjustments as the Committee establishes in writing at the time it establishes the Target RONA, Threshold RONA and Maximum RONA for such Performance Period.  “Adjusted Operating Income” for this purpose means income from operations adjusted to remove primarily restructuring charges.  “Working Capital” for this purpose means the average of adjusted current assets less adjusted current liabilities, which measures exclude cash and cash equivalents, debt and items reported as held for sale.
“Target RONA”, “Threshold RONA” and “Maximum RONA”, in each case means the specific fiscal year-over-year improvement in RONA, expressed as a percentage, established by the Committee for the applicable Performance Period.  Notwithstanding the foregoing, if the Company’s RONA for the Performance Period exceeds Threshold RONA, but does not meet the percentage for Target RONA or Maximum RONA, then the Performance Shares award for such Performance Period shall be interpolated on a straight-line basis between Threshold RONA and Maximum RONA.  For the avoidance of doubt, if RONA for the Performance Period is below Threshold RONA, no Performance Shares shall be granted for such Performance Period.
The Committee will develop the performance criteria for subsequent Performance Periods in the Award Cycle annually within the time period for developing performance goals under the regulations under Code Section 162(m).  An amended Exhibit A describing the performance criteria for a particular Performance Period will be provided to each Participant prior to the end of the first quarter of that Performance Period and will automatically become a part of this Agreement.
Performance Goals for Performance Period October 1, 2013 to September 30, 2014
	
				
	Performance Level
	Fiscal 2014 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	16%
	200%
	 

	Target
	8%
	100%
	 

	Threshold
	4%
	50%
	 

	Below Threshold
	NA
	0%
	 

Performance Goals for Performance Period October 1, 2014 to September 30, 2015
	
					
	Performance Level
	Fiscal 2015 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	28.55
	%
	200%
	 

	Target
	8
	%
	100%
	 

	Threshold
	4
	%
	50%
	 

	Below Threshold
	NA
	

	0%
	 

Performance Goals for Performance Period October 1, 2015 to September 30, 2016
	
				
	Performance Level
	Fiscal 2016 RONA Goal
	Percentage of Target Performance Shares Earned
	Maximum Number of Performance Shares Earned

	Maximum
	__%
	200%
	 

	Target
	__%
	100%
	 

	Threshold
	__%
	50%
	 

	Below Threshold
	NA
	0%

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