Document:

Exhibit 10.7

 

Addendum
to a Lease Agreement for Fixed-Term Rented Property Dated 16.6.2006

 

Held
and Signed on the 9 of September 2021

 

	Between:	Ayalot
    Investment (Ramat Vered) 1994 Ltd. Private Company 512022401 
	 	from
    7 Jabotinsky Street, Ramat Gan 
	 	(hereinafter:
    “the landlord”)
	 	First
    Party; 
	 	 
	And:
    	SciVak
    Ltd. Private Company 513679555
	 	13
    Gad Road, Rehovot
	 	 P.O.
    Box 580, 7610303 
	 	(hereinafter:
    “the renter”)
	 	Second
    Party;
	 	 
	Whereas	the
    renter, by its former name “SCIGEN (IL) Ltd.”, and the landlord’s predecessor, Africa Israel Properties Ltd., Ayalot
    Investment (Ramat Vered) 1994 Ltd. and CN: 511693533 (“Shrada Ltd.”) (hereinafter all together: “the original
    landlord”) signed a lease agreement on all of its appendices on 16.6.06 in relation to the rented property located in Rehovot
    Park (hereinafter: “the park”) (hereinafter the lease agreement on all its appendices: “the lease agreement”);
    
	 	 
	Whereas	from
    time to time, the renter signed addendums to rent additional areas in the park and extend the rent in the areas; 
	 	 
	 	(Hereinafter
    the lease agreement, its appendices and all the addendums signed to the lease agreement all together: “the main agreement”).
    
	 	 
	Whereas	the
    landlord purchased from the original landlord abovementioned the rights to the park, and came in its place for all intents and purposes,
    it became the owner of the full rights to the park, and it alone will constitute the “landlord” for all intents and purposes
    of the lease agreement;
	 	 
	Whereas	according
    to the main agreement at the time of signing this addendum, the renter rents from the landlord areas in the park in a total territory
    of 3,651 gross square meters, according to following detailing: (a) area of 1,718 gross square meters on the second floor of the
    building known as stage C; (b) an area of 404 gross square meters on the second floor of the building known as stage C; (c) an area
    of 35 gross square meters on the mezzanine floor between floors 2 and 3 in the west wing of the building known as stage C; (d) and
    an area of 30 gross square meters on the second floor of the building known as stage C; (e) an area of 420 gross square meters on
    the second floor of the building known as stage A; (f) an area of 134 gross square meters on the second floor of the building known
    as stage A; (g) an area of 420 gross square meters on the second floor of the building known as stage A; (h) an area of 490 gross
    square meters on the second floor of the building known as stage B (hereinafter all areas together: “the rented property”),
    the renter was also granted permission to use 54 parking spaces in the park (hereinafter: “the parking spaces”);

 

    	 

     

    

 

	Whereas	the
    renter asked to rent an additional area of 900 gross square meters, which is located on the third floor of the building known as
    stage A of the park, marked in red in the blueprint attached to this Addendum as Appendix A (hereinafter: “the
    additional rented property”), as well as to put in use 5 parking spaces on the third floor (the roof floor) in the park
    whose numbers are 32-36, marked on the blueprint attached to this addendum as Appendix A1 (hereinafter: “the
    additional parking spaces”), held as of the date of signing this addendum by another renter, Envigo RMS (Israel) Ltd. (hereinafter:
    “the other renter”);
	 	 
	Whereas	the
    landlord agrees to comply with the renter’s request, all subject to and in accordance with the terms of this addendum below;
    

 

Therefore,
it was stated conditioned and agreed between the parties as follows:

 

	1.	Preamble
    and appendices
	 	 
	 	The
    preamble and the appendices to this addendum form an integral part thereof. 
	 	 
	2.	Interpretation
	 	 
	 	The
    interpretation given to the terms included in this addendum will be the same interpretation given to them in the main agreement,
    other than if explicitly changed as part of this addendum.
	 	 
	3.	Delivery
    of the possession of the additional rented property 
	 	 
	 	The
    additional rented property will be delivered to the renter on 1.7.2022 (hereinafter: “the delivery date”) in the
    condition as it will be returned by the other renter who holds it. 
	 	 
	4.	The
    lease periods in the additional rented property

 

	 	4.1.	The
    lease period in the additional rented property will begin at the time of delivery and will last for 60 consecutive months, i.e.,
    from day 1.7.2022 to day 30.6.2027 (hereinafter: “the lease period of the additional rented property”). 
	 	 	 
	 	4.2.	Subject
    to the compliance of all the cumulative conditions listed below, the renter is hereby given the option (hereinafter: “the
    option”) to extend the lease period in the additional rented property for an additional period of 60 months, starting from
    the date 1.7.2027 and until 30.6.2032 (hereinafter: “the additional lease period in the additional rented property”):

 

	 	4.2.1.	The
    option will be exercised on its own, in an autonomic manner, unless the renter has given the landlord an irrevocable written notice
    until no later than at least 6 months before the end of the lease period in the additional rented property regarding its intention
    not to exercise the option.
	 	 	 
	 	4.2.2.	The
    renter did not breach a fundamental violation or repeated violation of the main agreement and this addendum, during the entire lease
    period in the additional rented property. 

 

	5.	Lease
    terms in the additional rented property

 

	 	5.1.	During
    the lease period in the additional rented property, the rent for the additional rented property will be 40 NIS per 1 gross square
    meter of the additional rented property, per month, plus VAT as defined by law, and linked to the June 2021 index published on 15.7.2021
    and was ______ points. 

 

    	 

     

    

 

	 	5.2.	During
    the additional lease period in the additional rented property, the rent for the additional rented property will be 44 NIS per 1 gross
    square meter of the additional rented property, per month, plus VAT as defined by law, and linked to the fixed index in the above
    5.1 section.
	 	 	 
	 	5.3.	The
    maintenance fee per month for the additional rented property during the lease periods of the additional rented property will be at
    the amount equal to Cost + 15% per one square meter of the additional rented property gross plus VAT. For indication purposes only,
    the renter is aware that as of the date of signing this addendum, the maintenance fee is 5 NIS per each square meter gross of the
    additional rented property per month plus VAT as defined by law, linked to the fixed index in section 5.1. above.
	 	 	 
	 	5.4.	All
    of the stated in the lease agreement in relation to the rent, to the extent that it does not contradict the aforesaid in this addendum,
    will also apply in relation to the rent paid for the additional rented property according to this addendum. 

 

	6.	Adjustment
    works in the additional rented property

 

	 	6.1.	From
    the date of delivery of the holding, the renter will perform, through professionals on its behalf and at its expense, all the necessary
    work to adjust the additional rented property to its purpose (hereinafter: “adjustment works”).
	 	 	 
	 	6.2.	The
    landlord’s consent to perform the adjustment works by the renter is contingent on submitting all the plans made by the renter,
    including the construction plans, air conditioning and electricity plans, detailed at the level of work plans, prior to their execution,
    for the landlord’s approval (hereinafter: “plans of the renter”).
	 	 	 
	 	6.3.	The
    renter will not be allowed to perform any work in the additional rented property that has not been approved by the landlord in advance
    and in writing.
	 	 	 
	 	6.4.	The
    renter alone is responsible for obtaining any license and/or permit, if necessary, for the purpose of carrying out the adjustment
    works.
	 	 	 
	 	6.5.	The
    responsibility for performing the adjustment works on the additional rented property, including the insurances required for it, will
    apply only to the renter. The renter will obtain for the landlord an approval to perform the renter’s work insurance in the
    version attached as Appendix B1 for this addendum, signed by the insurer on behalf of the renter, before and as a condition
    for the delivery of the additional rented property to the renter.
	 	 	 
	 	6.6.	The
    renter will perform the adjustment works in a manner that does not cause any disturbance to other renters in the park and the building,
    and will be liable by law towards the landlord and to any third party for any damage and/ or loss caused by it and/ or anyone acting
    on its behalf, if caused, in the process of and/ or as a result of the execution of the work of the renter, to a body and/ or property
    and/ or to the rented property and/ or the building, and/ or to its surroundings and/ or contents. In this regard, it will be clarified
    that the landlord’s authorization for the renter’s work will not impose any liability on it. 

 

    	 

     

    

 

	 	6.7.	The
    insurance provisions that will apply to the parties are listed in the insurance appendix attached to this addendum as an integral
    part thereof and marked as Appendix B.
	 	 	 
	 	 	For
    the avoidance of doubt, the provisions of the insurance appendix override the provisions of Section 6.6 above, and in any case of
    contradiction between the provisions of the Section 6.6 above and the insurance appendix provisions, the provisions of the insurance
    appendix will apply.
	 	 	 
	 	6.8.	The
    landlord will be entitled to enter the additional rented property, at any time while performing the adjustment work after prior coordination
    with a representative on behalf of the renter, except in urgent cases when it will then be entitled to enter without coordination,
    in order to supervise their execution and check the fulfillment of the renter’s obligations, this provision does not impose
    any liability on the landlord or detracts from the renter’s liability.
	 	 	 
	 	6.9.	The
    renter undertakes to repair any damage and/ or malfunction caused as a result of the execution of the adjustment work. If it will
    not do so, the landlord will be entitled to do so at the expense of the renter, after giving a written notice to the renter of its
    intention to do so.
	 	 	 
	 	6.10.	The
    renter alone will be responsible for the equipment and materials imported by it in order to carry out the adjustment work. The renter
    shall not be permitted to store materials and equipment outside the additional rented property except with the written and prior
    authorization of the landlord.
	 	 	 
	 	6.11.	The
    renter will ensure that the contractors on its behalf obey the landlord’s instructions and act in accordance with the labor
    practices established by it, if established. 

 

	7.	Electricity

 

	 	7.1.	As
    of the date of signing this addendum, the electricity supply to the additional rented property is carried out directly by Israel
    Electric and not through bulk supply by the landlord. 
	 	 	 
	 	7.2.	Despite
    the stated in section 7.1 above, the renter declares and confirms that it is aware that the landlord may determine at any time in
    advance and in a written notice to the renter that the electricity supply to the additional rented property will be carried out through
    the bulk electricity supply, in the manner and the conditions stated in Appendix D to the lease agreement. The cost of the change
    of the electricity supply to the additional rented property via bulk electricity delivery will not apply to the renter. 
	 	 	 
	 	7.3.	In
    accordance with the foregoing, at the time of signing of this addendum, the renter will sign a letter of request to cancel a low-voltage
    connection to the electric company and a letter of commitment and irrevocable consent for the transition to bulk electricity supply,
    in the attached version as Appendix C to this addendum in relation to the additional rented property.
	 	 	 
	 	7.4.	To
    the extent that the electricity supply to the additional rented property will be carried out through the bulk electricity supply
    by the landlord, then the renter’s payment to the landlord for the use of electricity in the additional rented property will
    either way not exceed the electricity rates at which the landlord will be charged for the additional rented property. 

 

    	 

     

    

 

	8.	Right
    to use the additional parking spaces

 

	 	8.1.	During
    the lease period in the additional rented property and the additional lease period in the additional rented property, the renter
    will be entitled to make use of the additional parking spaces.
	 	 	 
	 	8.2.	During
    the lease period in the additional rented property, the user fees for the additional parking spaces will be 250 NIS plus VAT as required
    by law for each additional parking space per month, and in linkage with the fixed index in section 5.1 above.
	 	 	 
	 	8.3.	During
    the additional lease period in the additional rented property, the monthly user fees for the additional parking spaces will be 275
    NIS plus VAT as required by law for each additional parking space per month, and in linkage with the fixed index in section 5.1 above.
	 	 	 
	 	8.4.	Payment
    of the user fees for the additional parking spaces will be considered as part of the rent during the lease periods in the additional
    rented property and will be paid in the manner in which the rent will be paid during the lease periods in the additional rented property.
	 	 	 
	 	8.5.	The
    renter will not be charged a management fee for the additional parking spaces. 
	 	 	 
	 	8.6.	If
    property taxes apply for the additional parking spaces, the renter will bear it. 
	 	 	 
	 	8.7.	For
    the removal of doubt, the permission to use the additional parking spaces as detailed above is given to the renter for the duration
    of the lease periods in the additional rented property, and that at the end of the lease periods in the additional rented property,
    the renter will cease to make use of the additional parking spaces. 

 

	9.	Collateral
    and insurance

 

	 	9.1.	Collateral

 

	 	9.1.1.	To
    ensure all the renter’s obligations to the landlord in all matters relating to the additional rented property and the additional
    parking spaces, and without derogating from the renter’s obligations with respect to the rented property and the parking spaces,
    the role of the renter by the landlord at the time of signing this addendum, and as a condition for delivering the holding of the
    additional rented property to the renter, a bank guarantee equal to the total rent and maintenance fees in the additional rented
    property and usage fees in the additional parking spaces, plus VAT as legally required for 6 (six) months of rent, a total of 293,085
    NIS including VAT, in the version attached as Appendix D for this addendum. 
	 	 	 
	 	9.1.2.	It
    is clarified, for the avoidance of any doubt, that the landlord shall be entitled to make use of any of the collateral in its possession,
    up to the amount due to it from the renter, at its absolute and exclusive discretion, in case of violation of the basic obligations
    of the renter, whether in connection with the rented property and the parking spaces or in connection with the additional rented
    property, provided that it acted in the realization of the collateral according to the provisions of the main agreement and this
    addendum. 

 

	 	9.2.	Insurance
	 	 	 
	 	 	The
    renter undertakes to provide all the insurances it owes for the additional rented property in accordance with the provisions of Appendix
    B for this addendum, and to provide the landlord, until and no later than the date of the beginning of the lease period in
    the additional rented property, an approval of taking out permanent insurances relating to the additional rented property in the
    version attached as Appendix B2 for this addendum. 

 

	10.	General
	 	 
	 	The
    parties hereby declare and agree that all statements, terms and obligations as stated in the main agreement shall continue to be
    valid and will also apply to the respective additional rented property, all subject to the required changes arising from this addendum
    and/ or as amended and\ or have been explicitly altered in this addendum above.

 

IN
WITNESS WHEREOF the parties have signed:

 

	[Signature
and Stamp: Ayalot Investments (Ramat Vered) 1994 Ltd Company No. 512022401]

	 	[Signature
                                            and Stamp: SciVac Ltd.

513679555]

[Signature and Stamp: Roei Egozi, CFO, SciVac Ltd]

	Landlord	 	 renter

  

    	 

     

    

 

  

    	 

     

    

  

  

    	 

     

    

 

Insurance
Appendix – Appendix B

 

This
appendix trumps any provision in the main agreement concerning insurance, and in any case of contradiction between the provisions of
the main agreement and the provisions of this appendix in regards to insurance, the provisions of this appendix will prevail (except
for commercial provisions that were arranged between the parties). The terms used in this appendix will be interpreted in the way they
are interpreted in the main agreement. For the avoidance of doubt, it is clarified that wherever “landlord” is written it
means: “the landlord and\ or the management company”, and wherever “landlord and\ or anyone on its behalf” is
written it means: “the landlord and\ or the management company and\ or anyone on their behalf”.

 

	1.	Labor
    insurance in the rented property

 

	 	1.1.	Subject
    to the provisions of the agreement in regards to obtaining permission to carry out work on the rented property, if any work will
    be carried out on the rented property, by the renter or by anyone on behalf of the renter, at any time during the lease period,
    the renter must provide the landlord and the management company with the approval regarding the insurance of carrying out of the
    renter’s work that is attached to this agreement and constitutes an integral part thereof and is marked as Appendix B1
    (“Approval of the renter’s labor insurance” and “the renter’s labor insurance”, respectively)
    signed by the renter’s insurer. The presentation of the aforementioned insurance approval of the renter’s work is a precondition
    for the execution of any work on the rented property, and the landlord and the management company will have the right (but not the
    obligation) to prevent the renter from performing work on the rented property, if the approval of the renter’s labor insurance
    was not presented as stated before the work began1. 
	 	 	 
	 	 	Despite
    the above said, in works in the rented property, the value of which does not exceed 250,000 NIS, the renter may not conduct
    such labor work insurance, provided that it presents an approval for taking out the renter’s permanent insurances, that specifies
    that the insurances include coverage for the work conducted in the rented property.

 

	2.	Permanent
    insurances 

 

	 	2.1.	For
    the entire duration of the lease, the renter must arrange and maintain the insurances as follows: 

 

	 	2.1.1.	Rented
    property contents insurance and any other possessions brought to the rented property or the building by or for the renter (including
    equipment, furniture, facilities and inventory), and any alteration, improvement and addition to the rented property made by the
    renter or for the renter, in full value and on the basis of reinstatement value, from loss or damage due to the accepted risks in
    extended fire coverage, including fire, smoke, lightning, explosion, earthquake, storm and strong weather, flood, fluid damage and
    cracking of pipes, damage by vehicles, damage by aircraft, riots, strikes, malicious damage, broking of glass and burglary damage.
    The insurance includes a section whereby the insurer waives the right of subrogation towards the landlord and towards the management
    company and towards employees and managers of the landlord or management company, as well as towards other renters, tenants, and
    other rights’ holders in the building (together: “other rights’ holders”), in whose property insurance
    a corresponding section regarding the waiver of the right of subrogation towards the renter exists, or in an agreement conferring
    on the other rights’ holders as aforesaid rights in the building is included an exemption from liability in favor of the renter
    for loss or damage that may be caused to the property of the other rights’ holders due to the risks that are included in the
    extended fire coverage risks; such abovementioned waiver shall not apply to a person who caused the damage maliciously. 

 

 

1
Limits of liability for approval for labor insurance:

 

	Scope
    of works	 	Chapter
    A – expansion of nearby property 

    and property on which work is done	 	Limit
    of liability chapter B
	250,000	 	200,000
    NIS	 	1,000,000
    NIS
	250,000
    – 500,000	 	300,000
    NIS	 	2,000,000
    NIS
	500,000
    – 1,000,000	 	300,00
    NIS	 	3,000,000
    NIS
	Over
    1,000,000	 	400,000
    NIS	 	4,000,000
    NIS

 

    	 

     

    

 

	 	2.1.2.	Third
    party liability coverage that ensures the renter’s liability under law for bodily injury or damage to property that may
    be caused to the body or property of any person or entity in the rented property and its surroundings, within the limit of liability
    in the amount of $ 3,000,000 per case and cumulative under the policy2. The insurance is extended to cover the landlord
    and the management company for liability that will be imposed on any of them due to an act or omission of the renter, subject to
    a cross-liability clause.
	 	 	 
	 	2.1.3.	Employers’
    liability insurance that insures the renter’s liability under the Torts Ordinance (new version) and/ or according to the
    Liability for Defective Products Law, 5740-1980 towards the renter’s employees for bodily injury or occupational illness that
    may be caused to any of them while and due to their work on or around the rented property, within the limit of liability of 6,000,000
    NIS (six million NIS) per employee and 20,000,000 NIS (twenty million NIS) per case and in total for the insurance period. The insurance
    is extended to indemnify the landlord and the management company if decided, in the case of a work accident or any occupational disease,
    that any of them has any employer obligations towards any of the renter’s employees. 
	 	 	 
	 	2.1.4.	Consequential
    loss insurance that insures loss of gross profit of the renter [expressly excluding loss of rent, management fees and parking
    fees (if any) to the landlord and management company] due to loss or damage caused to the insured’s assets under section 1
    above or to the rented property or building structure, as a result of one of the risks insured under section 1 above for an indemnity
    period of 12 months. The insurance will be extended to cover consequential damages caused by the denial of entrance in accordance
    with the terms of the policy. For the avoidance of doubt, it is clarified that the foregoing regarding a cessation of electricity
    supply also in relation to the supply of electricity by the landlord and/ or the management company the insurance includes a section
    according to which the insurer waives the right of exchange towards the landlord and towards the management company and towards the
    employees and managers of the landlord or the management company, as well as to the other rights’ holders whose consequential
    loss insurance includes a corresponding section regarding the waiver of a right of subrogation towards the renter, or an agreement
    granting the other rights’ holders such rights in the building is included an exemption from liability in favor of the renter
    in respect of a consequential loss to the other rights’ holders due to the risks that can be covered by extended fire coverage;
    such waiver shall not apply to a person who caused such damage maliciously. 

 

 

2 The limits of the liability
will be an amount equal to 10,000 NIS double the rented property area in a square meter, but the said amount will not be less than 1,000,000
NIS (one million NIS) for a case and cumulative for the insurance period.

 

    	 

     

    

 

	 	2.2.	Without
    the need for any requirement on the part of the landlord or the management company, the renter must present to the landlord to the
    management company, no later than the date of receipt of possession of the rented property or before any assets are transferred to
    the rented property (other than assets included in the insured works according to section 1.1 above) – the earlier of the two
    dates – the approval of taking out the insurance, which is attached to this agreement and forms an integral part thereof and
    is marked as Appendix B2 (“Approval of renter’s permanent insurance” and “Renter’s
    permanent insurance”, respectively). The renter is signed by the renter’s insurer. The issuance of a permanent insurance
    approval by the renter is a precondition for receiving the hold of the rented property or for bringing any assets into the rented
    property (other than assets included in the insured works under section 1.1 above), and the landlord and the management company shall
    have the right (but not the obligation) to prevent the renter from receiving the hold of the rented property or the insertion of
    said assets in the event that the approval was not issued before the date specified above.
	 	 	 
	 	2.3.	The
    renter has the right not to take out consequential loss insurance and/ or property insurance, in whole or in part, but the exemption
    specified in section 2.7 below will apply as if the insurances as aforesaid had been taken out in full.
	 	 	 
	 	2.4.	If,
    in the opinion of the renter, additional or supplementary insurance is required for the renter’s labor insurance or for the
    renter’s permanent insurances, the renter may take out the additional or supplementary insurance as aforesaid. Any additional
    or supplementary property insurance as aforesaid shall include a section regarding the waiver of the right of subrogation towards
    the landlord, the management company and any of the persons on their behalf, as well as towards other renters, tenants, and other
    rights’ holders in the building (together: “other rights’ holders”), in whose property insurance or
    in the property chapter for contract work carried out by them included a waiver of a right of transfer towards the renter, provided
    that the exemption does not apply in favor of the person who caused the damage maliciously. 
	 	 	 
	 	2.5.	The
    renter must update the insurance amounts in respect of the insurances taken out according to sections (1) and (4) to the landlord’s
    permanent insurance approval, from time to time, so that they always reflect the full value of the insured subject under them.
	 	 	 
	 	2.6.	The
    renter exempts the landlord, the management company and those on their behalf as well as the other rights’ holders, in whose
    lease agreements or any other agreement granting the other rights’ holders such rights in the building includes a corresponding
    exemption towards the renter, from liability for damage that the renter has indemnification rights in regards thereof, according
    to the insurances the renter has to take in accordance with section (1) for the approval of the renter’s labor insurance, sections
    (2.1.1) and (2.1.4) above as well as additional property insurances as stated in section 2.4 above (or that the renter had the right
    to indemnification for except for the deductibles stated in the policies, but the exemption from such liability will not apply in
    favor of the person who caused the damage maliciously.

 

    	 

     

    

 

	 	2.7.	At
    the end of the renter’s permanent insurances period, the renter must deposit with the landlord or the management company the
    renter’s permanent insurances approval for the extension of its validity for another period. The renter must return and deposit
    the renter’s permanent insurances approvals on the specified dates, every insurance period and as long as this agreement is
    valid. 
	 	 	 
	 	2.8.	Whenever
    the renter’s insurer notifies the landlord or management company that any of the renter’s permanent insurances is about
    to be canceled or is about to be subject to change for the worse, the renter must re-edit that insurance and issue a renewed insurance
    approval, until the date of cancellation or change for the worse in such insurance.
	 	 	 
	 	2.9.	For
    the avoidance of doubt, it is clarified that failure to present the insurance approvals on time will not affect the renter’s
    obligations under this agreement, including and without prejudice to the generality of the said, any obligation to pay that applies
    to the renter. The renter must fulfill all the renter’s obligations under the agreement even if the renter is prevented from
    performing work, receiving possession of the rented property, bringing assets into the rented property, or opening the business in
    the rented property due to failure to present the permits on time.
	 	 	 
	 	2.10.	The
    landlord and the management company have the right (but not the obligation) to check the insurance permits presented by the renter,
    and the renter must make any changes or amendments required to conform to the renter’s obligations as stated in this appendix
    in the agreement. The landlord and management company’s right to examine the permits and order their amendment as described
    above does not impose on the landlord or the management company or anyone on their behalf any obligation and liability whatsoever
    in relation to the said insurance certificates, the nature, scope and validity of the insurances made under the said approvals or
    in their absence and does not detract from any liability imposed on the renter under this agreement or by law.
	 	 	 
	 	2.11.	The
    renter must comply with the terms of the insurance policies drawn up by the renter, pay the insurance premiums in full and on time,
    and ensure that the renter’s permanent insurance is renewed from time to time as necessary and is valid for the entire lease
    period.
	 	 	 
	 	2.12.	The
    renter must adhere to reasonable safety guidelines that will be published (if published) from time to time by the landlord or by
    the management company.
	 	 	 
	 	2.13.	The
    limits of liability required by the insurance permits are a minimum requirement imposed on the renter which does not derogate from
    any obligation of the renter under the agreement and/ or under any law and does not release the renter from full liability under
    this agreement and/ or by law. The renter will not have any claim or demand against the landlord or against the management company
    or against anyone on their behalf, with regard to the limits of such liability.
	 	 	 
	 	2.14.	The
    landlord and the management company do not have any obligation to maintain security or other security measures in the building or
    in the rented property, and the existence of security or other security measures in the building or in the rented property does not
    create any obligation or liability towards the renter. The Bailees Law 5727-1967 does not apply to the agreement and its appendices.
    

 

    	 

     

    

 

	 	2.15.	Without
    derogating from the provisions of this agreement and without derogating from the responsibility of the landlord or the responsibility
    of the management company under this agreement or by law, the landlord has to arrange and maintain, either through the landlord or
    through the management company, for the duration of the agreement, the insurances listed later in this section with a legally authorized
    and reputable insurance company:

 

	 	2.15.1.	Building
    structure coverage (including the rented property) and its adjoining structures and systems, in the full value of their establishment,
    as well as any additional property of the landlord or the management company located in and around the building, in their establishment
    value, from loss or damage following the risks that are covered in an extended fire coverage, including fire, smoke, lightning, explosion,
    earthquake, storm and hurricane, flood, fluid damage and cracking of pipes, damage by vehicles, damage by aircraft, riots, strikes,
    malicious damage as well as burglary damage. The said insurance will include a section regarding a waiver of the right of transfer
    towards the renter and those on behalf of the renter, but the said waiver will not apply in favor of the person who caused the damage
    maliciously. Such insurance shall not include the property expressly specified in section 2.1.1 above and any content, addition,
    improvement or extension made by or on behalf of or for the renter (and not through the landlord or the management company or anyone
    on the landlord’s or the management company’s behalf). 
	 	 	 
	 	2.15.2.	Consequential
    loss insurance that insures loss of rent and management fees due to damage caused to the building structure (including the rented
    property structure) as well as any additional assets as stated in section 2.15.1 above due to the risks listed in section 2.15.1
    above (excluding burglary), for indemnity period of 24 months. The said insurance will include a section regarding the waiver of
    the right of subrogation in favor of the renter and those on behalf of the renter, but the said waiver will not apply in favor of
    the person who caused the damage maliciously. 
	 	 	 
	 	 	The
    landlord and the management company have the right not to take out consequential loss insurance that insures the loss of rent, management
    fees and parking fees (if any) as stated in this section above, in whole or in part, but the provisions of section 2.19 below shall
    apply as if the said insurance is taken out in full. 
	 	 	 
	 	2.15.3.	Third
    party liability insurance with a liability limit of 4,000,000 NIS (four million NIS) for a case and cumulatively under the policy,
    which insures the liability of the landlord and the management company according to law for bodily injury or damage to property that
    may be caused to the body or possessions of any person or legal entity in the building. The insurance will be extended to indemnify
    the renter for liability imposed on the renter due to an act or omission of the landlord or the management company, subject to a
    cross-liability section according to which the insurance is considered to have been arranged separately for each of the insured.
	 	 	 
	 	2.15.4.	Employers’
    liability insurance that insures the liability of the landlord and the management company towards their employees for physical
    injury or occupational disease that may be caused to any of them while or due on their work in the project and its surroundings,
    within the limit of liability of 6,000,000 NIS (six million NIS) per employee and 20,000,000 NIS (20 million NIS) for a case and
    in total for the insurance period. The insurance will be extended to indemnify the renter in case of a work accident or a work-related
    disease for the renter holds employer responsibility for any of the landlord’s workers or the management company. 

 

    	 

     

    

 

	 	2.16.	The
    landlord has the right, at the sole discretion of the landlord, to take out additional insurance for the insurances specified in
    section 2.15 above. Any additional property insurance taken out by the landlord in connection with the asset in which the rented
    property is located, will include a waiver of transfer to the renter and those on behalf of the renter, but such waiver will not
    apply to the person who caused the damage maliciously.
	 	 	 
	 	2.17.	It
    is agreed that the renter will carry out the payments of the premium for the insurances specified in section 2.15 above, and the
    renter undertakes to pay the landlord any amount that will be required of it regarding the said premium, within seven days from the
    landlord’s first demand. 
	 	 	 
	 	2.18.	In
    the arrangement of the insurances listed in section 2.15 above, shall not be in addition to the responsibility of the landlord or
    the management company beyond what is stated in this agreement or to detract from the responsibility of the renter under the agreement
    or according to law (except as expressly stated in end of section 2.19 below).
	 	 	 
	 	2.19.	The
    landlord exempts, on behalf of the landlord and on behalf of the management company, the renter and those on behalf of the renter
    from liability for damage for which the landlord or the management company is entitled to indemnification under the insurance the
    landlord is to take out according to sections 2.15.1 and 2.15.2 above and insurance in accordance with section 2.16 above, insofar
    as they were taken out (or were entitled to indemnification for it without the deductibles specified in the policies and/ or missing
    insurance and/ or violation of the terms of the insurance policies), but exemption from such liability will not apply to the one
    who caused the damage maliciously.
	 	 	 
	 	2.20.	Notwithstanding
    the foregoing, if there was an insurance event which is insured under sections 2.15.1 and 2.15.2 and 2.16 above in circumstances
    which are the responsibility of the renter as stated in the agreement or by law, the renter must bear the amount of damage caused
    up to the deductible under the said policies, provided it does not exceed 10,000 $. 

 

    	 

     

    

 

Appendix
B1 – Approval of the Renter’s Labor Insurance

  

	Approval
    of existence of insurances – contracting work insurance \ in building	Date
    of issue of approval (DD\MM\YYYY)
	This
    insurance approval is a reference to the fact that the insured has a valid insurance policy, in accordance with the information specified
    in it. The information detailed in this approval does not include all the terms of the policy and its exceptions. However, in the
    event of a conflict between the conditions specified in this approval and the conditions set forth in the insurance policy, what
    is stated in the insurance policy will prevail, except in the case where a condition in this approval benefits the applicant for
    the approval.
	The
                                            applicant for the approval

     
	The
                                            insured

     
	Address
    of the insured property\ Address of the place of works	Status
                                            of the applicant for the approval

     

     

	Name
    of landlord: _______________ and\ or parent company and\ or subsidiaries and\ or related companies and\ or the management company	Name
                                            of the renter and\ or contractors and\ or sub-contractors

     
	 	☐
                                            Contractor

    ☐ Sub-contractor

    ☐
    Renter

    ☒ Other: landlord\
    management company

     

	ID\
    Private Company	ID\
    Private Company
	Address	Address
	Coverages
	Policy
                                            Chapters

    Division
    by limits of liability or insurance amounts
	Policy
                                            No.

     
	Policy
    version and addition	Beginning
                                            date

     
	End
                                            date

     
	Limits
    of liability\ insurance amount\ work worth	Additional
    coverages in effect and cancellation of exceptions
	Amount
    	Currency
    
	All
                                            the risks contractual works

    Example
    extensions details can be given according to policy chapters

     
	 	 	 	 	Amounts
    must be updated in accordance with the table on page 1 of the insurance addendum in the connection agreement	 	318,
                                            

    309,
    

    308
    (Waiver of transfer towards tenants, renters, and other rights’ holders in the asset (subject to reciprocity) 313,314,
    316, 318, 328

     

	Theft
    and burglary	 	 	 	 	 	included
	Property
    on which work is done	 	 	 	 	 	NIS

     

	Adjacent
    property	 	 	 	 	 	NIS
	Property
    in transfer	 	 	 	 	 	NIS
	Removal
    of rubble	 	 	 	 	 	NIS
	Third
                                            party

     
	 	 	 	 	The
    amounts should be updated in accordance with footnote 2 on page 1 of the Insurance Addendum to the connection agreement	NIS

     
	318,
                                            302, 315, 312, 328

     

	Employer’s
    liability	 	 	 	 	20,000,000	NIS	318,
    328
	Details
    of the services (subject to the services specified in the agreement between the insured and the applicant for approval, the service
    code must be indicated from the list detailed in Appendix C):
	074
    Constructions and renting 096
	Cancellation\
    change of policy
	A
    change for the worse of the applicant for approval or cancellation of an insurance policy will not take effect until 30 days
    after sending a notice to the applicant for approval regarding the change or cancellation.
	The
    signature of the approval
	The
    insurer:

  

    	 

     

    

 

Appendix
B2 – Approval of the Renter’s Permanent Insurances 

 

	Approval
    of the existence of insurances 	Date
    of issue of approval (DD\MM\YYYY)
	This
    insurance approval is a reference to the fact that the insured has a valid insurance policy, in accordance with the information specified
    in it. The information detailed in this certificate does not include all the terms of the policy and its exceptions. However, in
    the event of a conflict between the conditions specified in this approval and the conditions set forth in the insurance policy, what
    is stated in the insurance policy will prevail, except in the case where a condition in this approval benefits the applicant for
    the approval.
	The
    applicant for the approval*	The
                                            insured

     
	The
                                            nature of the deal

     
	Status
    of the applicant for the approval*
	Name
    of landlord: Amot Investments Ltd. and\ or parent company and\ or subsidiaries and\ or related companies and\ or the management company	Name
                                            of the renter:

    ________________
	☐
                                            real estate

    ☐
    services

    ☐
    product supply

    ☒
    other: rent of a property located in

    ________

     
	☒
                                            the landlord and\ or management company

    ☐
    renter

    ☐ franchisee

    ☐
    sub-contractors

    ☐
    service requester

    ☐
    supply requester

    ☐
    other: __________

	ID\
    Private Company 	ID\
    Private Company 
	Address	Address
	Coverages
	Insurance
                                            type

    Division
    by limits of liability or insurance amounts
	Policy
                                            No.

     

     
	Wording
    and edition of the policy	Beginning
                                            date

     

     
	End
                                            date

     
	Limits
                                            of liability\ insurance amount

     
	Additional
    coverages in effect and cancellation of exceptions A coverage code must be specified in accordance with Appendix D
	Amount	Currency
	Possessions

     

     
	 	 	 	 	 	NIS

     
	309,
                                            

    328,
    

    308
    (Waiver of transfer to another party: tenants, renters, and other rights’ holders in the property (subject to reciprocity)

	Third
    party	 	 	 	 	3,000,000

     
	$

     
	302
                                            (cross liability)

    309
    (Waiver of transfer in favor of the applicant for approval)

    315
    (coverage for NSC claims)

    321
    (Additional insured for acts or omissions of the insured – applicant for approval)

    322
    (applicant for approval is defined as third party) 328 (precedence)

	Employer’s
                                            liability

     
	 	 	 	 	20,000,000

     

     
	NIS

     
	319
                                            (Additional insured - was and will be considered the employer of any of the insured’s
                                            employees)

    309
    (Waiver of transfer in favor of the applicant for approval)

    328
    (precedence)

	Other

    Consequential
    loss

     
	 	 	 	 	 	NIS

     
	309
                                            (Waiver of transfer in favor of the applicant for approval)

    308
    (Waiver of transfer to another party: tenants, renters, and other rights’ holders in the property (subject to reciprocity)

    328
    (precedence)

	Details
    of the services (subject to the services specified in the agreement between the insured and the applicant for approval, the service
    code must be indicated from the list detailed in Appendix C)*
	Renting      096
	Cancellation\
    change of policy*
	A
    change for the worse of the applicant for approval or cancellation of an insurance policy will not take effect until 30 days
    after sending a notice to the applicant for approval regarding the change or cancellation.
	The
    signature of the approval
	The
    insurer:

 

    	 

     

    

 

Appendix
C

 

Request
for Cancellation of a Low-Voltage Connection to the Electricity Company and a Letter of Commitment and Irrevocable Consent to Switch
to Bulk Electricity Supply

 

Attn.

The
Israel Electric Corporation Ltd. - Rehovot District

Ayalot
Investments (Ramat Vered) 1994 Ltd.

Hereinafter:
“the owner\ the landlord”

 

I
the undersigned SciVac Ltd. private company 513679555, rent lots 17 and 19 in the rented property in the Rehovot Park complex in Block
3649 (hereinafter: “the renter”), holder of the Electric Corporation contract no.____________ declare and commit in an irrevocable
manner as follows and this in relation to the leasing of an area of 900 gross square meters located on the third floor of the building
known as stage A in the Rehovot Park only:

 

	1.	As
    an electricity consumer in the Rehovot Park complex, which is owned by the owners whose details are stated above, I ask the Israel
    Electric Corporation Ltd. to cancel the electricity connection registered in my name at the Electric Company, including the dismantling
    of it. I am aware that after the dismantling of the connection as stated, the electricity supply to the complex and the rented property
    will be the full responsibility of the owner and/ or anyone on its behalf, which is agreed and acceptable to me.
	 	 
	2.	I
    know and agree that the electricity supply to the complex and the rented property will be changed to bulk supply and that it is the
    owner who will provide the electricity within the complex (including transformation from high voltage to low voltage).
	 	 
	3.	Since
    it is the owner who will provide the electricity as a whole to all electricity consumers in the complex, through a bulk electricity
    connection, it is known and agreed that the following conditions will apply on me: 

 

	 	3.1.	The
    payments relating to the electricity supply for me will be paid by me directly to the owner.
	 	 	 
	 	3.2.	Any
    inquiry I have regarding the electricity supply in the complex will now be directed to the owner only. 

 

	4.	In
    view of the foregoing, I will not have, as a renter, a claim on any grounds against the Electric Company for failure to supply electricity
    or interference in the electricity supply.

 

	 	 	 	 
	 	 
	Date	signature
    + company stamp + private company no.\ I.D.

 

    	 

     

    

 

Appendix
D

 

Attn.

Ayalot
Investments (Ramat Vered) 1994 Ltd.,

Addressed
________________

Branch:
_________

Address:
___________

Date:
___________

Dear
Sir\ Madam

Re:
Bank Guarantee No._____________ 

 

	1.	We
    hereby guarantee to you a payment of any amount up to a total of 293,085 NIS (Two hundred and ninety-three thousand eighty-five
    NIS) (hereinafter: “guaranteed amount”), that you shall demand from SciVac Ltd. private company 513679555
    (hereinafter: “the guaranteed”), in connection with a lease agreement signed between you and the guaranteed, all
    additions thereto, as signed or will be signed periodically. 
	 	 
	 	This
    amount will be linked to the Consumer Price Index as published from time to time by the Central Bureau of Statistics and Economic
    Research, under the linkage conditions below:
	 	 
	 	The
    “basic index” for the purpose of this guarantee will be an index for the month of June 2021 published on the 15th of
    the following month (or close to that date), at a rate of ____ points.
	 	 
	 	The
    “new index” for this guarantee will be the index that was published recently and prior to receiving your claim according
    to this guarantee.
	 	 
	 	The
    linkage differences regarding this guarantee will be calculated as follows: if it turns out that the new index has increased compared
    to the basic index, then the amount of the guarantee will be calculated when it is increased at the same rate as the rate of increase
    of the new index compared to the basic index. If the new index is lower than the basic index, we will pay you the amount specified
    in your claim up to the amount of the guarantee, without any linkage differences.
	 	 
	2.	According
    to your first written request, no later than ten days from the date your request was received by us at our address indicated above,
    we will pay you any amount specified in the claim provided that it does not exceed the guarantee amount plus linkage differences,
    without imposing an obligation on you to prove or explain your demand and without you having to demand the payment first by the guaranteed.
	 	 
	3.	This
    guarantee will remain valid until day ______ of month ______ year _______ (inclusive) only and after that date it will be null and
    void. Any request under this letter of guarantee must be received by us in writing according to our address indicated above, no later
    than the above stated date and the closing time for the customer reception of our branch.
	 	 
	4.	A
    written demand that reaches the bank via facsimile will also constitute a written demand for the purpose of this guarantee. 
	 	 
	5.	This
    guarantee is not transferable or convertible. 

 

Respectfully,

Bank___________Exhibit
10.8

 

 

Business
Confidential – Protected B

 

THIS
IS AN AMENDING AGREEMENT

 

	BETWEEN:	NATIONAL
    RESEARCH COUNCIL OF CANADA
	 	a
    departmental corporation forming part of the Government of Canada
	 	created
    by the National Research Council Act (R.S.C. 1985, c. N-15), and
	 	an
    agent of Her Majesty the Queen in Right of Canada
	 	whose
    head office address is:

 

	 	1200
    Montreal Road	 
	 	Ottawa,
    Ontario K1A 0R6 	(called
    the “NRC”)

 

	AND:	VARIATION
    BIOTECHNOLOGIES INC.

	 	a
    Company incorporated under the Canada Business Corporations Act under number 393728-3 whose
    Registered Office Address is located in:

 

	 	300
    Hunt Club Road East, 2nd Floor	 
	 	Ottawa,
    Ontario K1V 1C1	(called
    the “Collaborator” or “VBI”)

 

(Collectively
known as the “Parties”)

 

WHEREAS
the parties entered into an Agreement signed by the NRC on 30 March 2020 (called
the “Original Agreement”) and Amendment One signed by NRC on 21 December 2020 (called “Amendment One”),
as well as Amendment Two signed by NRC on July 8, 2021 (called “Amendment Two”) by which the Parties agreed to collaborate
in a “Project”, described as: COVID-19 vaccine evaluation. The Original Agreement, Amendment One and Amendment
Two are now called “The Agreements”.

 

WHEREAS
this Amending Agreement includes certain special obligations which relate solely to Tasks performed for the purpose of developing
a vaccine against the South Africa (Beta) variant of COVID-19, which project is being funded by the Coalition for Epidemic Preparedness
Innovations (CEPI). These special obligations are required by the terms of the funding agreement between Collaborator and CEPI.

 

WHEREAS
the parties wish to amend the Agreements.

 

IN
CONSIDERATION of the mutual covenants hereunder, the parties agree as follows:

 

	1.	The
    Agreements shall be read with the amended terms stated below. With respect to all other terms, the Parties confirm the Agreements.
	 	 
	2.	The
    attached “SCHEDULE OF PAYMENTS” is in addition to the “Schedule
    of Payments” from the Agreements.
	 	 
	3.	The
    attached “NEW STATEMENT OF WORK AND DELIVERABLES” is in addition to the “STATEMENT OF WORK AND DELIVERABLES”
    in the Agreements.
	 	 
	4.	The
    estimated total value of this Project amendment three is: minimum of $***  (Task 2.8.1) to a maximum of $ *** (All
    Tasks) as stated in the Statement of Work.
	 	 
	5.	The
    Collaborator is a Canadian Small and Medium Enterprise (SME) or a Canadian educational institution, including a community college,
    CEGEP, polytechnic or university, and benefits from a Fee Reduction of minimum of $*** (Task 2.8.1) to a maximum of $*** (All
    Tasks). The Collaborator hereby warrants that, at the time of signing this Agreement, it is a SME and has 500 or fewer full-time
    equivalent employees, or it is a Canadian educational institution.
	 	 
	6.	The
    amount that the Collaborator will pay to the NRC in cash for this amendment two is: minimum of $*** (Task 2.8.1) to a maximum
    of $*** (All Tasks) as stated in the Statement of Work.

 

    	HHT – Vaccines and Emerging Infections RI	 	Page 1 of 5
	 	NRC Ref. #: A-0040287 (orig. A-0035546)	 

     

    

 

 

	7.	The
    following special provisions apply to Tasks carried out pursuant to this Amending Agreement:

 

	 	(a)	NRC
    shall exert reasonable efforts to retain records of its activities regarding the work performed pursuant to this Amending Agreement
    for a period of at least 5 years from the date of completion of the work, to the extent that it does not contradict with any applicable
    laws, regulations, or policies of the NRC and can provide a copy of such documentation to Collaborator upon request.
	 	 	 
	 	(b)	NRC
    shall exert reasonable efforts to retain, for a period of at least 5 years (to the extent that it does not contradict with any applicable
    laws, regulations, or policies of the NRC) from the date of completion of the work described in this Amending Agreement, documentation
    supporting the amounts invoiced to and paid by Collaborator pursuant to this Amending Agreement and can provide a copy of such documentation
    to Collaborator upon request.
	 	 	 
	 	(c)	Each
    of NRC and Collaborator agree that it shall carry its obligations hereunder in accordance with laws and regulations that are applicable
    to its activities and operations.
	 	 	 
	 	(d)	Section
    IU-8 of the Original Agreement is amended to add the following last paragraph:
	 	 	 
		 	 Collaborator shall be permitted to disclose Confidential Non-Project Information to CEPI solely to the extent required to comply with its obligations pursuant to its funding agreement with CEPI, including its obligations pursuant to the CEPI Third Party Code. NRC will have the right to review the Confidential Information prior to any disclosure to CEPI;  
	 	 	 
	 	(e)
    	The
    NRC is part of the Government of Canada and confirms that it is in compliance with laws, regulations, and policies whose goals are
    aligned with the goals of the CEPI Third Party Code.

 

	8.	This
    Amending Agreement may be executed in one or more counterparts and by the different parties hereto in separate counterparts, each
    of which when executed shall be deemed to be an original but all of which taken together shall constitute one valid and binding agreement.
    A portable document format (PDF) copy of an executed counterpart signature page will be as valid as an originally executed counterpart
    for purposes of signing this Amending Agreement.

 

SIGNED
by the Collaborator at Ottawa, Ontario

 

	 	VARIATION
    BIOTECHNOLOGIES INC.

 

	Date:
    	August
                                            6, 2021
	 	Per:
    	/s/
                                            Jeff Baxter

	 	 	 		Jeff
    Baxter
	 	 	 		CEO

 

SIGNED
by the NRC at Ottawa, Ontario

 

	 	NATIONAL
    RESEARCH COUNCIL OF CANADA

 

	Date:
    	August
                                            27, 2021
	 	Per:
    	/s/
                                            Roman Szumski

	 	 	 		Roman
    Szumski 
	 	 	 		Vice
    President, Life Sciences 

 

    	HHT – Vaccines and Emerging Infections RI	 	Page 2 of 5
	 	NRC Ref. #: A-0040287 (orig. A-0035546)	 

     

    

 

 

ANNEX
SP – SCHEDULE OF PAYMENTS TO NRC

 

Billing
address: See page 1

 

Billing
contact:

 

	 	Name:
    	Andrea
    McRae
	 	Title:	Project
    Manager
	 	Telephone:	613
    749 4200 
	 	Email:	amcrae@vbivaccines.com

 

	SP-1	The
    Collaborator shall be invoiced as follows:

	Invoicing Schedule (Estimated Dates)	 	 	Amount Due*	 
	1. Invoice to be issued upon signature of this amendment for Task 2.8.1	 	$	***	 
	2. Invoice to be issued upon approval from Collaborator (Task 2.8.2)	 	$	***	 
	3. Invoice to be issued upon approval from Collaborator (Task 2.8.3)	 	$	***	 
	TOTAL MAXIMUM PAYABLE AMOUNT	 	$	***	 

*Plus
applicable taxes

 

	SP-2	All
    amounts shall be due 30 days from the date of the invoice.
	 	 
	SP-3	Payments
    must be made to: “Receiver General - National Research Council of Canada” and addressed to:

 

Accounts
Receivable

National
Research Council of Canada

1200
Montreal Road

Ottawa,
Ontario, K1A 0R6 CANADA

 

	SP-4	Payments
    can be made by cheque, MasterCard, Visa or American Express; or by wire transfer. Wire transfer information is available upon request.
    The Collaborator is responsible for all bank charges associated with wire transfers. Any inquiries may be directed to: AccountsReceivable@nrc-cnrc.gc.ca.
	 	 
	SP-5	The
    Collaborator shall provide any Invoicing Reference Number at the time of Agreement signature or promptly thereafter. The NRC will
    not delay or cancel invoicing nor defer accrual of interest due to the Collaborator’s failure to provide an Invoicing Reference
    Number.
	 	 
	SP-6	The
    NRC may suspend its performance of any obligations under this Agreement so long as any payment is overdue for any reason.
	 	 
	SP-7	If
    this Agreement is amended to increase the scope of the Services, the NRC reserves the right to calculate costing for its additional
    Project activities at its rates that are in effect at that time. Any such cost increases shall be approved, in writing, by both Parties.
	 	 
	SP-8	If
    the NRC expects that the value of its estimated contribution will be exceeded by more than 10%,
    it shall promptly notify the other Party. The Parties shall then negotiate a further agreement on costs or payments, and either Party
    may suspend the performance of any obligations, other than confidentiality, intellectual property and accrued obligations to pay,
    until a further agreement is reached. If the Parties fail to agree on an amendment within 60 days of the notice, then this Agreement
    shall terminate on the 60th day after the notice, unless the Parties agree otherwise in writing.

 

	SP-9	If
    a surplus of prepayment remains as a result of premature termination, it will be refunded.

 

    	HHT – Vaccines and Emerging Infections RI	 	Page 3 of 5
	 	NRC Ref. #: A-0040287 (orig. A-0035546)	 

     

    

 

 

	SP-10	If
    an instrument tendered in payment or settlement of an amount due to the NRC is dishonored for any reason, the NRC will invoice an
    additional administrative charge of CAD 25 and this amount will be due as invoiced.
	 	 
	SP-11	Interest
    is payable on all overdue amounts. Interest is calculated and compounded monthly at the average bank rate plus 3% and accrues during
    the period beginning on the due date and ending on the day before the day on which payment is received by the NRC. For purposes of
    this paragraph “bank rate” means the rate of interest established periodically by the Bank of Canada as the minimum
    rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association, and “average
    bank rate” means the weighted arithmetic average of the bank rates that are established during the month before the month
    in respect of which interest is being calculated.

 

(Rate
information may be found at http://www.tpsgc-pwgsc.gc.ca/recgen/txt/tipp-ppir-eng.html. This site provides information
on the rate used by departments of the Government of Canada to calculate the interest on overdue accounts payable and is the same rate
used by the NRC to charge interest on overdue accounts receivable under the Interest and Administrative Charges Regulations, SOR/96-188.
This web site address, and the information set out there, is provided here for convenience. In case of rate discrepancy, the rates quoted
by the Bank of Canada shall prevail.)

 

(the
rest of this page was intentionally left blank)

 

    	HHT – Vaccines and Emerging Infections RI	 	Page 4 of 5
	 	NRC Ref. #: A-0040287 (orig. A-0035546)	 

     

    

 

 

STATEMENT
OF WORK AND DELIVERABLES

 

	1.	PROJECT
                                            OBJECTIVES

 

The
goal of this project is to generate a stable cell line secreting murine leukemia virus Gag protein (Gag) based Virus-like-Particles (VLPs)
expressing the SARS-CoV-2 Spike protein (Spike).

 

*** 

 

    	HHT – Vaccines and Emerging Infections RI	 	Page 5 of 5
	 	NRC Ref. #: A-0040287 (orig. A-0035546)

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