Document:

Exhibit 10.3

  

   

  

  
    THIRD AMENDMENT TO MASTER REPURCHASE AGREEMENT

    

    

    THIS THIRD AMENDMENT TO MASTER REPURCHASE AGREEMENT (this “Amendment”), dated as of June 7, 2019, by and among MORGAN STANLEY BANK, N.A. (“Buyer”), KREF LENDING IV LLC (“Seller”)
      and KKR REAL ESTATE FINANCE HOLDINGS L.P. (“Guarantor”), amends that certain Master Repurchase and Securities Contract Agreement, dated December 6, 2016 by and between Buyer and Seller (the “Original Repurchase Agreement”), as modified
      by that certain Omnibus Amendment, dated as of November 10, 2017 by and among Guarantor, Seller and Buyer (the “Omnibus Amendment”), as further modified by that certain First Amendment to Repurchase Agreement, dated as of December 31, 2018 by
      and between Buyer and Seller (the “First Amendment”), and as further modified by that certain Second Amendment to Repurchase Agreement, dated March 14, 2019 by and between Buyer and Seller (the “Second Amendment”) (the Original
      Repurchase Agreement, as amended by the Omnibus Amendment, the First Amendment and the Second Amendment and as the same may be further amended, modified and/or restated, collectively, the “Repurchase Agreement”).

    

    

    RECITALS

    

    

    WHEREAS, the parties hereto desire to make certain amendments to the Repurchase Agreement as provided herein.

    

    

    NOW, THEREFORE, for good and valuable consideration, the parties hereto agree as follows:

    

    

    
      
        	

              	1.	
                Amendment to the Repurchase Agreement.

              

      

    

    

    

    (a)          The definition of “Facility Amount” in Section 2 of the Repurchase Agreement is hereby amended and restated in its entirety as follows:

    

    

    “Facility Amount” shall mean $750,000,000 as such amount may be reduced in accordance with Section 9(c) of this Agreement.

    

    

    (b)          Section 9(d) is hereby deleted in its entirety.

    

    

    
      
        	

              	2.	
                Defined Terms. Capitalized terms used but not defined herein shall have the meanings set forth in the Repurchase Agreement.

              

      

    

    

    

    
      
        	

              	3.	
                Ratification and Authority.

              

      

    

    

    

    (a)          Seller hereby represents and warrants that (i) Seller has the power and authority to enter into this Amendment and to perform its obligations under the Repurchase Agreement as amended
      hereby, (ii) Seller has by proper action duly authorized the execution and delivery of this Amendment and (iii) this Amendment has been duly executed and delivered by Seller and constitutes Seller’s legal, valid and binding obligations, enforceable
      in accordance with its terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

     

    

    
      

      
        

    

    (b)          Seller hereby (i) unconditionally ratifies and confirms, renews and reaffirms all of its obligations under the Repurchase Agreement, (ii) acknowledges and agrees that such obligations
      remain in full force and effect, binding on and enforceable against it in accordance with the terms of the Repurchase Agreement as amended hereby, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting
      creditors’ rights and to general equity principles and (iii) represents, warrants and covenants that, as of the date hereof, it is not in default under the Repurchase Agreement or any of the other Transaction Documents beyond any applicable notice
      and cure periods, and there are no defenses, offsets or counterclaims against Seller’s obligations under the Repurchase Agreement.

    

    

    (c)          Guarantor, by its signature below, hereby (i) unconditionally approves and consents to the execution by Seller of this Amendment and the modifications to the Repurchase Agreement
      effected thereby, (ii) unconditionally ratifies, confirms, renews, and reaffirms all of its obligations under the Guaranty, (iii) acknowledges and agrees that its obligations under the Guaranty remain in full force and effect, binding on and
      enforceable against it in accordance with its terms subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles and (iv) represents, warrants and covenants
      that, as of the date hereof, it is not in default under the Guaranty beyond any applicable notice and cure periods, and there are no defenses, offsets or counterclaims against its obligations under the Guaranty. Guarantor hereby represents and
      warrants that it has the power and authority to enter into this Amendment and has by proper action duly authorized the execution and delivery of this Amendment by Guarantor.

    

    

    
      
        
          	

                	4.	
                  Continuing Effect.    Except as expressly amended by this Amendment, the Repurchase Agreement, the Guaranty and the other Transaction Documents remain in full force and effect in accordance with
                    their respective terms.

                

        

      

      

      

      
        
          	

                	5.	
                  References to Transaction Documents.    All references to the Repurchase Agreement in any Transaction Document, or in any other document executed or delivered in connection therewith shall, from and after the execution and
                    delivery of this Amendment, be deemed a reference to the Repurchase Agreement as amended hereby, unless the context expressly requires otherwise.

                

        

      

      

      

      
        
          	

                	6.	
                  Governing Law.    This Amendment shall be governed by and construed and interpreted in accordance with the laws of the State of New York.

                

        

      

      

      

      
        
          	

                	7.	
                  Counterparts.    This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an
                    executed counterpart of a signature page to this Amendment in Portable Document Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart thereof.

                

        

      

    

    

    

    [Signatures appear on the next page.]

    
      

      
        

    

    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered in their names as of the date first above written.

    

    

    	 	
            BUYER:

          
	 	 	 
	 	
            MORGAN STANLEY BANK, N.A.,

          
	 	
            a national banking association

          
	 	 	 
	 	
            By:

          	
            
              /s/ Anthony Preisano

            

          
	 	 	
            Name: Anthony Preisano 

            

          
	 	 	
            Title: Authorized Signatory

          

    

    

    [Signatures continue on the next page]

    
      

      
        

    

    	 	
            SELLER:

          
	 	 	 
	 	
            KREF LENDING IV LLC, a Delaware limited liability company

          
	 	 	 
	 	
            By:

          	
            /s/ Patrick Mattson

          
	 	 	
            Name: Patrick Mattson

          
	 	 	
            Title: Authorized Signatory

          
	 	 	 

    

    

    	 	
            GUARANTOR

          
	 	 	 	 
	 	
            KKR REAL ESTATE FINANCE HOLDINGS L.P., a Delaware limited partnership

          
	 	 	 	 
	 	
            By: KKR REAL ESTATE FINANCE TRUST INC., its general partner

          
	 	 	 	 
	 	 	
            By:

          	
            /s/ Patrick Mattson

          
	 	 	 	
            Name: Patrick Mattson

          
	 	 	 	
            Title: Authorized Signatorygern-ex101_141.htm

 

exhibit 10.1

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON Corporation HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON Corporation IF PUBLICLY DISCLOSED.

CHANGE ORDER #1

		
	
Client Name: 
	
GERON Corporation

	
Drug Name or Number: 
	
Imetelstat

	
Protocol Number: 
	
63935937MDS3001

	
Parexel Project Number:
	
[***]

	
Change Order Number:
	
1

	
Change Order Date:
	
June 19, 2019

	
Parexel Project Manager:
	
[***]

Parexel and Client signed a Work Order dated January 30, 2019.  The parties wish to amend said Work Order as applicable and hereby agree as follows:

	
1.
	
The items listed on Change in Scope Log #1, attached as Attachment 1 to this Change Order, dated June 19, 2019 shall be incorporated in said Work Order. 

	
2.
	
The total contract value changes as follows:

				
	
 
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
3.
	
Section 7 of the Work Order shall be replaced in its entirety with the following:

Parexel Key Personnel.  The following Parexel Key Personnel, as defined in Section 2.5 of the Agreement, are assigned to the Project covered by this Work Order:

				
	
Title
	
Name
	
Telephone Number
	
Email

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

 

Page 1 of 38

 

				
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]

	
4.
	
Section 8 of the Work Order shall be replaced in its entirety with the following:

Parexel Sub-Processors.  The following Parexel Sub-Processors, as defined in Attachment E of the Agreement, are assigned to the Project:

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

 

Page 2 of 38

 

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

	
 
	
•
	
[***]

 

Any changes to Sub-Processors shall be made pursuant to Sections 7.4 and 7.5 of Attachment E. 

	
5.
	
The Specifications and Assumptions Exhibit A in the Work Order shall be replaced in its entirety by Attachment 2 in this Change Order #1.

	
6.
	
The Task and Responsibility Exhibit B in the Work Order shall be replaced in its entirety by Attachment 3 in this Change Order #1.

	
7.
	
The Budget Grid Summary in Exhibit F in the Work Order shall be replaced in its entirety by Attachment 4 in this Change Order #1.

	
8.
	
The [***] Payment Schedule in Exhibit G in the Work Order shall be replaced in its entirety by Attachment 5 in this Change Order #1.

No term or condition other than the above shall be amended by this Change Order.  

[Signatures on following page]

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

 

Page 3 of 38

 

 

		
	
GERON Corporation
	
Parexel International (IRL) Limited

	
By: /s/ Andrew J. Grethlein
	
By:  /s/ Mark Fives

	
Name: Andrew J. Grethlein, Ph.D.
	
Name:  Mark Fives

	
Title: Executive Vice President and Chief

Business Officer
	
Title:  Senior Manager

	
Date:  19-Jun-2019
	
Date:  20-Jun-2019

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

 

Page 4 of 38

 

ATTACHMENT 1

CHANGE IN SCOPE LOG 1

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 5 of 38

 

CHANGE IN SCOPE LOG

						
	
Change In Scope Log

 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
Protocol No.
	
63935937MDS3001
	
 
	
 
	
 

	
 
	
Client Name
	
GERON Corporation
	
 
	
 
	
 

	
 
	
Parexel Project No.
	
[***]
	
 
	
 
	
 

	
 
	
Project Manager
	
[***]
	
 
	
 
	
 

	
 
	
CIS No.
	
1
	
 
	
 
	
 

	
 
	
Date
	
19-June-2019
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 

Item#
	
Date Requested and Requestor
	
CIS Task description
	
Service Fee (Contract Currency)
	
Investigator Fees
	
Pass Through Costs

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 6 of 38

 

 

Parexel Project #[***]

						
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

	
[***]
	
[***]
	
[***]
	
[***]
	
[***]
	
[***]

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 7 of 38

Parexel Project #[***]

ATTACHMENT 2

SPECIFICATIONS AND ASSUMPTIONS

 

{7 pages omitted}

 

[***]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 8 of 38

Parexel Project #[***]

ATTACHMENT 3
TASKS & RESPONSIBILITIES

{21 pages omitted}

[***]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 15 of 38

Parexel Project #[***]

ATTACHMENT 4
Budget grid summary

Table 1 – Budget Grid Summary

[***]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 36 of 38

Parexel Project #[***]

ATTACHMENT 5 
[***] PAYMENT SCHEDULE

{2 pages omitted}

[***]

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE GERON CORPORATION HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO GERON CORPORATION IF PUBLICLY DISCLOSED.

Page 37 of 38

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}]]