Document:

EX-10.2

 Exhibit 10.2 

SECOND AMENDED AND RESTATED 

SPECIALIZED EQUIPMENT EXPORT FACILITY 

MASTER REVOLVING NOTE 

(Multi-Currency) 
  

							
	 US$3,000,000.00
	 		 		  	 Toronto, Ontario

				
		 		 		  	 November 13, 2013        

 ON THE MATURITY DATE, FOR VALUE RECEIVED, the undersigned, MANITEX LIFTKING, ULC, an Alberta
corporation (“Borrower”), promises to pay to the order of COMERICA BANK (“Bank”), a Texas banking association and authorized foreign bank under the Bank Act (Canada) at Bank’s office located at Suite 2210, South Tower, Royal
Bank Plaza, 200 Bay Street, Toronto, Ontario, M5J 2J2, or to such other office(s) as Bank may designate in writing from time to time, in lawful currency of Canada, the principal sum of THREE MILLION UNITED STATES DOLLARS (US$3,000,000.00), or the
Equivalent Amount in Canadian Dollars, or so much of said sum as has been advanced and is then outstanding under this Note, together with interest thereon and fees as hereinafter set forth. 

This Note is a note under which Advances, repayments and re-Advances may be made from time to time, subject to the terms and conditions of
this Note; provided, however, in no event shall Bank be obligated to make any Advances or re-Advances hereunder (notwithstanding anything expressed or implied herein or elsewhere to the contrary, including, without limit, if Bank supplies Borrower
with a borrowing formula) in the event that any Default, or any condition or event which, with the giving of notice or the running of time, or both, would constitute a Default, shall have occurred and be continuing or exist. 

Advances hereunder are available in Canadian Dollars by way of Canadian Prime-based Advances and Advances hereunder are available in US
Dollars by way of US Prime-based Advances. 
 Accrued and unpaid interest on the unpaid balance of each outstanding Canadian Prime-based
Advance and US Prime-based Advance, as applicable, hereunder shall be payable monthly, in arrears, on the first Business Day of each month, until maturity (whether stated herein, by acceleration or otherwise). Interest hereunder shall be computed on
the basis of a year of 365 days for Canadian Prime-based Advances and US Prime-based Advances, and shall be assessed for the actual number of days elapsed, and in such computation, effect shall be given to any change in the Applicable Interest Rate
as a result of any change in the Canadian Prime Rate or the US Prime Referenced Rate on the date of each such change. 
 Principal payments
in the amount of the Aggregate Contract Advances, together with all accrued interest thereon, of each Guaranteed Contract shall be due and payable in full upon the earlier of (i) the Scheduled Payment Date, or (ii) the termination (whether
by maturity or acceleration) of the EDC Guarantee with respect to such Guaranteed Contract. 
 All payments to be made by Borrower to Bank
under or pursuant to this Note shall be in immediately available funds, without setoff or counterclaim, and in the event that any payments submitted hereunder are in funds not available until collected, said payments shall continue to bear interest
until collected. Payments in respect of Advances in US Dollars shall be made in US Dollars and payments in respect of Advances in Canadian Dollars shall be made in Canadian Dollars. Borrower hereby authorizes Bank to charge any account(s) of
Borrower with Bank for any and all sums due hereunder, when due in accordance with the terms hereof. 
 From and after the occurrence and
during the continuance or existence of any Default hereunder, the Indebtedness (as defined below) outstanding under this Note shall bear interest at a per annum rate of three percent (3%) above the otherwise Applicable Interest Rate, which
interest, in any case, shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar
days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Default hereunder. 

Borrower shall pay to Bank on or before the date of this Note, a commitment fee of US$15,000, which fee shall be fully earned and
non-refundable. 
 The amount and date of each Advance, its Applicable Interest Rate and the amount and date of any repayment shall be noted
on Bank’s records, which records shall be conclusive evidence thereof, absent manifest error; provided, however, any failure by Bank to make any such notation, or any error in any such notation, shall not relieve Borrower of its obligations to
repay Bank all amounts payable by Borrower to Bank under or pursuant to this Note, when due in accordance with the terms hereof. 

 Borrower may request an Advance hereunder upon the delivery to Bank of a Request for Advance
executed by an authorized officer of Borrower, subject to the following: 
  

	 	(a)	 no Default, and no condition or event which, with the giving of notice or the running of time, or both, would constitute a Default, shall have
occurred and be continuing or exist under this Note; 

  

	 	(b)	 Bank shall have received, reviewed and approved the applicable contract and any amendments thereto; 

 

	 	(c)	 either (i) the Request for Advance must be submitted to Bank at least 45 days prior to the expiration of the EDC Guarantee, or (ii) Bank
has received confirmation from EDC that the EDC Guarantee will remain effective with respect to the requested Advance until the Scheduled Payment Date; 

  

	 	(d)	 each such Request for Advance shall set forth the information required on the Request for Advance form annexed hereto as Exhibit “A”
including but not limited to a copy of the applicable Guaranteed Contract, together with any amendments thereto, with a listing (including date and amount of such Advance) of all Advances under the applicable Guaranteed Contract obtained as of the
date of the Request for Advance, the detailed calculations of all costs of material and labour costs, together with invoices, receipts and applicable account payable debits, Borrower’s confirmation of the maturity date of the EDC Guarantee then
in effect and the estimated completion date of the Guaranteed Contract; 

  

	 	(e)	 each such Request for Advance shall be delivered to Bank by 11:00 a.m. (Toronto, Ontario time) on the proposed date of Advance in the case of
Canadian Prime-based Advances and US Prime-based Advances; 

  

	 	(f)	 in addition to the limits provided herein, the maximum amount of any Request for Advance shall not exceed the lesser of (i) the Equipment
Formula Amount as of the date of determination, and (ii) together with all outstanding Advances, the Maximum Amount; 

  

	 	(g)	 an Advance outstanding in one currency cannot be converted to an Advance in another currency; and 

 

	 	(h)	 a Request for Advance, once delivered to Bank, shall not be revocable by Borrower; provided, however, as aforesaid, Bank shall not be obligated to
make any Advance under this Note. 

 Borrower may prepay all or any part of the outstanding balance of any Canadian
Prime-based Advance or US Prime-based Advance under this Note at any time. Any prepayment made in accordance with this paragraph shall be without premium or penalty. 

In the event that any payment under this Note becomes due and payable on any day which is not a Business Day, the due date thereof shall be
extended to the next succeeding Business Day, and, to the extent applicable, interest shall continue to accrue and be payable thereon during such extension at the rates set forth in this Note. 

The obligation of Borrower to make payment of the principal of and interest on this Note and any other amounts payable hereunder in the
currency specified for such payment hereunder shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment, which is expressed in or converted into any other currency, except to the extent that such tender or recovery
shall result in the actual receipt by Bank of the full amount of the particular currency expressed to be payable herein. Bank shall, using all amounts obtained or received from Borrower pursuant to any such tender or recovery in payment of principal
of and interest hereunder, promptly purchase the applicable currency at the most favourable spot exchange rate determined by Bank to be available to it at such time. The obligation of Borrower to make payments in a particular currency shall be
enforceable as an alternative or additional cause of action solely for the purpose of recovering in the applicable currency the amount, if any, by which such actual receipt shall fall short of the full amount of the currency expressed to be payable
herein. 
 All payments to be made by Borrower under this Note shall be made without set-off or counterclaim and without deduction for or on
account of any present or future withholding or other taxes of any nature imposed by any governmental authority or of any political subdivision thereof or any federation or organization of which such governmental authority may at the time of payment
be a member, unless Borrower is compelled by law to make payments subject to such tax. In such event, Borrower shall (i) pay to Bank, for the account of Bank, such additional amounts as may be necessary to ensure that Bank receives a net amount
equal to the full amount which would have been receivable under this Note had payment not been made subject to such tax, and (ii) send to Bank such certificates or certified copies of receipts as Bank shall reasonable require as proof of the
payment by Borrower of any such taxes payable by Borrower. As used herein, the term “tax”, “taxes” and “taxation” includes all existing taxes, levies, imposts, duties, charges, fees, deductions and withholdings and any
restrictions or conditions resulting in a charge, together with interest thereon and fines and penalties with respect thereto, which may be imposed by reason of any violation or default with respect to the law regarding such tax, assessed as a
result of or in connection with any Advances hereunder or the indebtedness of Borrower under this Note, or the payment or delivery of funds into or out of any jurisdiction other than Canada. 

 If at any time and for any reason, the sum of the aggregate Advances hereunder to Borrower
outstanding exceeds (or taking into account any Request for Advance, would exceed) the lesser of (i) the Equipment Formula Amount, or (ii) the Maximum Amount or the Equivalent Amount in US Dollars, Borrower shall, upon demand by Bank,
until the necessary reductions of indebtedness under this paragraph have been fully made, repay the indebtedness outstanding hereunder and/or reduce any Requests for Advances submitted (or to be submitted) by Borrower in respect of such Advances, by
the amount of such excess, to the full extent thereof. Any reduction of indebtedness required under this paragraph shall be accompanied by such other amounts as may be payable by Borrower to Bank under this Note as a result of such reductions. 

If any Change in Law shall: (a) subject Bank to any tax, duty or other charge with respect to this Note or any Indebtedness hereunder, or
shall change the basis of taxation of payments to Bank of the principal of or interest under this Note or any other amounts due under this Note in respect thereof (except for changes in the rate of tax on the overall net income of Bank imposed by
the jurisdiction in which Bank’s principal executive office is located); or (b) impose, modify or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System), special
deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by Bank, or shall impose on Bank or the foreign exchange and interbank markets any other condition affecting this Note or the Indebtedness
outstanding hereunder; and the result of any of the foregoing is to increase the cost to Bank of maintaining any part of the Indebtedness hereunder or to reduce the amount of any sum received or receivable by Bank under this Note by an amount deemed
by the Bank to be material, then the undersigned shall pay to Bank, within fifteen (15) days of the undersigned’s receipt of written notice from Bank demanding such compensation, such additional amount or amounts as will compensate Bank
for such increased cost or reduction. A certificate of Bank, prepared in good faith and in reasonable detail by Bank and submitted by Bank to the undersigned, setting forth the basis for determining such additional amount or amounts necessary to
compensate Bank shall be conclusive and binding for all purposes, absent manifest error. 
 In the event that any Change in Law affects or
would affect the amount of capital required or expected to be maintained by Bank (or any corporation controlling Bank), and Bank determines that the amount of such capital is increased by or based upon the existence of any obligations of Bank
hereunder or the making or maintaining any Advances hereunder, and such increase has the effect of reducing the rate of return on Bank’s (or such controlling corporation’s) capital as a consequence of such obligations or the making or
maintaining of such Advances hereunder to a level below that which Bank (or such controlling corporation) could have achieved but for such circumstances (taking into consideration its policies with respect to capital adequacy), then Borrower shall
pay to Bank, within fifteen (15) days of Borrower’s receipt of written notice from Bank demanding such compensation, additional amounts as are sufficient to compensate Bank (or such controlling corporation) for any increase in the amount
of capital and reduced rate of return which Bank reasonably determines to be allocable to the existence of any obligations of Bank hereunder or to the making or maintaining any Advances hereunder. A certificate of Bank as to the amount of such
compensation, prepared in good faith and in reasonable detail by Bank and submitted by Bank to Borrower, shall be conclusive and binding for all purposes absent manifest error in computation. 

This Note and any other indebtedness and liabilities of any kind of Borrower to Bank, and any and all modifications, renewals or extensions
thereof, whether joint or several, contingent or absolute, direct or indirect, now existing or later arising, and however evidenced (collectively the “Indebtedness”), are secured by and Bank is granted a security interest in all items at
any time deposited in any account of Borrower with Bank and by all proceeds of these items (cash or otherwise), all account balances of Borrower from time to time with Bank, by all property of Borrower from time to time in the possession of Bank,
and by any other collateral, rights and properties described in each and every mortgage, security agreement, pledge, assignment and other security or collateral agreement which has been, or will at any time(s) later be, executed by Borrower, or
others, to or for the benefit of Bank (collectively the “Collateral”). 
 If (a) Borrower or any guarantor under a guarantee
of all or part of the Indebtedness (a “guarantor”) fail(s) to pay this Note, or any part thereof, or any of the Indebtedness when due, by maturity, acceleration or otherwise, or fail(s) to pay any Indebtedness owing on a demand basis upon
demand; or (b) Borrower or any guarantor fail(s) to comply with any of the terms or provisions of any agreement between Borrower or any guarantor and Bank; or (c) Borrower or any guarantor become(s) the subject of a voluntary or
involuntary proceeding in bankruptcy, or a reorganization, arrangement or creditor composition proceeding, which is not dismissed or stayed within 30 days (if a business entity) cease(s) doing business as a going concern, (if a natural person)
die(s) or become(s) incompetent, (if a partnership) dissolve(s) or any general partner of it dies, becomes incompetent or becomes the subject of a bankruptcy proceeding, or (if a corporation or a limited liability company) is the subject of a
dissolution, merger or consolidation; or (d) any warranty or representation made by Borrower or any guarantor in connection with this Note or any of the Indebtedness shall be discovered to be untrue or incomplete in any material respect; or
(e) there is any termination, notice of termination, or breach of any guarantee, pledge, collateral assignment or subordination agreement relating to all or any part of the Indebtedness; or (f) there is any failure by Borrower or any
guarantor to pay, when due, any of its indebtedness (other than to Bank), or in the observance or performance of any term, covenant or condition in any document evidencing, securing or relating to such indebtedness and such indebtedness has been
accelerated; or (g) there is filed or issued a levy or writ of attachment or garnishment or other like judicial process upon Borrower or any guarantor or any of the Collateral for any amount in excess of C$500,000 including, without limit, any
accounts of Borrower or any guarantor with Bank, then Bank, upon the occurrence and 

 
at any time during the continuance or existence of any of these conditions or events (each a “Default”), may at its option and without prior notice to Borrower, declare any or all of
the Indebtedness to be immediately due and payable (notwithstanding any provisions contained in the evidence of it to the contrary), sell or liquidate all or any portion of the Collateral, set off against the Indebtedness any amounts owing by Bank
to Borrower, charge interest at the default rate provided in the document evidencing the relevant Indebtedness, and exercise any one or more of the rights and remedies granted to Bank by any agreement with Borrower or which are granted to Bank under
applicable law, or otherwise. 
 Borrower waives presentment, demand, protest, notice of dishonour, notice of demand or intent to demand,
notice of acceleration or intent to accelerate, and all other notices, and agrees that no extension or indulgence to Borrower, or release, substitution or nonenforcement of any security, or release or substitution of any guarantor or any other
party, whether with or without notice, shall affect the obligations of Borrower. Borrower agrees that Bank has the right to sell, assign, or grant participations, or any interest, in any or all of the Indebtedness, and that, in connection with such
right, but without limiting its ability to make other disclosures to the full extent allowable, Bank may disclose all documents and information which Bank now or later has relating to Borrower and the Indebtedness. Borrower agrees that Bank may
provide information relating to this Note or relating to Borrower to Bank’s parent, affiliates, subsidiaries and service providers. 

The undersigned agrees to pay or reimburse to Bank, or any other holder or owner of this Note, on demand, for any and all costs and expenses
of Bank (including, without limit, court costs, legal expenses and reasonable attorneys’ fees, whether inside or outside counsel is used, whether or not suit is instituted, and, if suit is instituted, whether at the trial court level, appellate
level, in a bankruptcy, probate or administrative proceeding or otherwise ) incurred in connection with the preparation, execution, delivery, amendment, administration, and performance of this Note and the related documents, or incurred in
collecting or attempting to collect this Note or the Indebtedness, or incurred in any other matter or proceeding relating to this Note or the Indebtedness. 

Borrower acknowledges and agrees that there are no contrary agreements, oral or written, establishing a term of this Note and agrees that the
terms and conditions of this Note may not be amended, waived or modified except in a writing signed by a duly authorized officer of Bank expressly stating that the writing constitutes an amendment, waiver or modification of the terms of this Note.
If any provision of this Note is unenforceable in whole or part for any reason, the remaining provisions shall continue to be effective. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO AND THE
FEDERAL LAWS OF CANADA APPLICABLE THEREIN. 
 If this Note is signed by two or more parties, the obligations and undertakings under this
Note shall be that of all and any two or more jointly and also of each severally. This Note shall bind Borrower and Borrower’s respective heirs, personal representatives, successors and assigns, and this Note shall enure to the benefit of
Bank’s and Bank’s successors and assigns. 
 Payment of interest, as required hereunder, shall be deemed to be an acknowledgment
by the Borrower of its continuing liability for the principal of and interest due under this Note. 
 For purposes of disclosure pursuant to
the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in this Note and any related documents are equivalent, are the rates so calculated multiplied by the actual number of days in the
calendar year and divided by 365 (or 366 days in the case of leap years). 
 For the purposes of this Note, the following terms have the following meanings:

 “Advance” means a borrowing requested by Borrower and made by Bank under this Note, including any refunding of an
outstanding Advance as the same type of Advance or the conversion of any such outstanding Advance to another type of Advance, and shall include a Canadian Prime-based Advance, US Prime-based Advance and the issuance of L/Cs. 

“Aggregate Contract Advances” means the aggregate of all Advances made by Bank to Borrower during the term of the Guaranteed
Contract from the date of the Guaranteed Contract through to the completion of the Guaranteed Contract and delivery of the goods to the applicable account debtor. 

“Applicable Interest Rate” means the Canadian Prime Rate or the US Prime-based Rate, as selected by Borrower from time to
time, or as otherwise determined in accordance with the terms and conditions of this Note. 
 “Applicable Margin” means
(i) with respect to Advances bearing interest at the Canadian Prime Rate, 0.50%; and (ii) with respect to Advances bearing interest at the US Prime Referenced Rate, 0.0%. 

“Business Day” means any day other than a Saturday, Sunday or holiday on which Bank is open for all or substantially all of
its domestic and international commercial banking business (including dealings in foreign exchange) in Toronto, Ontario, and, in 

 
respect of notices and determinations relating to the Daily Adjusting LIBOR Rate, also a day on which dealings in US Dollar deposits are also carried on in the London interbank market and on
which banks are open for business in London, England and in Detroit, Michigan, USA. 
 “Canadian Dollars” and the sign
“C$” means the lawful money of Canada. 
 “Canadian Prime-based Advance” means an Advance which bears interest at the
Canadian Prime-based Rate. 
 “Canadian Prime-based Rate” means for any day, that rate of interest which is equal to the
sum of the Canadian Prime Rate plus the Applicable Margin. 
 “Canadian Prime Rate” means the per annum interest rate
announced from time to time by Bank as being a reference rate then in effect for determining interest rates on Canadian Dollar denominated commercial loans made by it in Canada, which rate is not necessarily the lowest rate on loans made by Bank at
such time. 
 “Change in Law” means the occurrence, after the date hereof, of any of the following: (i) the adoption
or introduction of, or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not applicable to Bank on such date, or (ii) any change in interpretation,
administration or implementation thereof of any such law, treaty, rule or regulation by any Governmental Authority, or (iii) the issuance, making or implementation by any Governmental Authority of any interpretation, administration, request,
regulation, guideline, or directive (whether or not having the force of law), including any risk-based capital guidelines. For purposes of this definition, (x) a change in law, treaty, rule, regulation, interpretation, administration or
implementation shall include, without limitation, any change made or which becomes effective on the basis of a law, treaty, rule, regulation, interpretation administration or implementation then in force, the effective date of which change is
delayed by the terms of such law, treaty, rule, regulation, interpretation, administration or implementation, and (y) the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203, H.R. 4173) and all requests, rules,
regulations, guidelines, interpretations or directives promulgated thereunder or issued in connection therewith shall be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or promulgated, whether before or
after the date hereof, and (z) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States
regulatory authorities, in each case pursuant to Basel III, shall each be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented. 

“Daily Adjusting LIBOR Rate” means, for any day, a per annum interest rate which is equal to the quotient of the following:

 (a) for any day, the per annum rate of interest determined on the basis of the rate for deposits in United States Dollars for a period
equal to one (1) month, appearing on Page BBAM of the Bloomberg Financial Markets Information Service as of 11:00 a.m. (Detroit, Michigan time) (or as soon thereafter as practical), on such day, or if such day is not a Business Day, on the
immediately preceding Business Day. In the event that such rate does not appear on Page BBAM of the Bloomberg Financial Markets Information Service (or otherwise on such Service) on any day, the “Daily Adjusting LIBOR Rate” for such day
shall be determined by reference to such other publicly available service for displaying eurodollar rates as may be agreed upon by Bank and Borrower, or, in the absence of such agreement, the “Daily Adjusting LIBOR Rate” for such day
shall, instead, be determined based upon the average of the rates at which Bank is offered dollar deposits at or about 11:00 a.m. (Detroit, Michigan time) (or soon thereafter as practical), on such day, or if such day is not a Business Day, on the
immediately preceding Business Day, in the interbank eurodollar market in an amount comparable to the principal amount of the US Dollar Advance which is to bear interest at such Daily Adjusting LIBOR Rate and for a period of one (1) month; 

divided by 
 (b) a percentage (expressed as a
decimal) equal to 1.00 minus the maximum rate on such day at which Bank is required to maintain reserves on “Euro-currency Liabilities” as defined in and pursuant to Regulation D of the Board of Governors of the Federal Reserve System or,
if such regulation or definition is modified, and as long as Bank is required to maintain reserves against a category of liabilities which includes eurodollar deposits or includes a category of assets which includes eurodollar loans, the rate at
which such reserves are required to be maintained on such category. 
 “EDC” means Export Development Canada, a corporation established by
an Act of the Parliament of Canada. 
 “EDC Guarantee” means the guarantee provided by EDC under their export guarantee
program which guarantee is in full force and effect with a scheduled maturity date more than 45 days after the date of the first Request for Advance submitted for a Guaranteed Contract for which no previous Request for Advance was submitted. 

 “Equipment Formula Amount” means, without duplication, 90% of the aggregate
total of costs of material plus labour costs for the Financed Goods as of the period of determination as evidenced by applicable invoices, receipts and account payable debit reports, provided such amount does not exceed 90% of the total purchase
price provided in the applicable Guaranteed contract at any time. 
 “Equivalent Amount” means, on any date of
determination, with respect to obligations or valuations denominated in one currency (the “first currency”), the amount of another currency (the “second currency”) which would result from the conversion of the relevant amount of
the first currency into the second currency at the 12:00 noon rate quoted on the Reuters Monitor Screen (Page BOFC or such other Page as may replace such Page for the purpose of displacing such exchange rates) on such date or, if such date is not a
Business Day, on the Business Day immediately preceding such date of determination, or at such other rate as may have been agreed in writing between Borrowers and Bank. 

“Financed Goods” means the goods which are the subject of the applicable Guaranteed Contract. 

“Governmental Authority” means the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including, without limitation, any supranational bodies such as the European Union or the European Central Bank). 

“Guaranteed Contract” means a contract for the manufacture of specialized transporters or other equipment for export from
Canada which is guaranteed by the EDC Guarantee. 
 “Letter Agreement” means that certain amended and restated letter
agreement by and between Borrower and Bank, dated as of even date herewith, as amended, modified or restated from time to time. 
 “Loan
Documents” has the meaning ascribed thereto on the Letter Agreement. 
 “Maturity Date” means the day which is July 1, 2015.

 “Maximum Amount” means US$3,000,000 of the Equivalent Amount in Canadian Dollars. 

“Reuters Screen CDOR Page” means the display designated as page CDOR on the Reuters Monitor Money Service or such other page
as may replace that page on that service for the purpose of displaying bid quotations for bankers’ acceptances of Schedule I banks. 

“Request for Advance” means a Request for Advance issued by Borrower under this Note in the form annexed to this Note as
Exhibit “A”. 
 “Scheduled Payment Date” means the date corresponding to (i) sixty (60) days after the
Borrower ships the Financed Goods to, or as directed by, the purchaser of the Financed Goods, or (ii) five (5) Business Days after the Borrower receives payment in full for such Financed Goods. 

“US Dollars” and the sign “US$” means the lawful money of the United States of America. 

“US Prime-based Advance” shall mean an Advance which bears interest at the US Prime-based Rate. 

“US Prime-based Rate” means for any day, that rate of interest which is equal to the sum of the US Prime Referenced Rate plus
the Applicable Margin. 
 “US Prime Rate” means the annual rate of interest announced from time to time by Bank as being
its reference rate then in effect for determining rates on US Dollar denominated commercial loans made by it in Canada, which rate is not necessarily the lowest rate on loans made by Bank at such time. 

“US Prime Referenced Rate” means, for any day, a per annum interest rate which is equal to the US Prime Rate in effect on
such day, but in no event and at no time shall the US Prime Referenced Rate be less than the sum of the Daily Adjusting LIBOR Rate for such day plus two and one-half percent (2.50%) per annum. If, at any time, Bank determines that it is unable
to determine or ascertain the Daily Adjusting LIBOR Rate for any day, the US Prime Referenced Rate for each such day shall be the US Prime Rate in effect at such time, but not less than two and one-half percent (2.50%) per annum. 

 No delay or failure of Bank in exercising any right, power or privilege hereunder shall affect
such right, power or privilege, nor shall any single or partial exercise thereof preclude any further exercise thereof, or the exercise of any other power, right or privilege. The rights of Bank under this Agreement are cumulative and not exclusive
of any right or remedies which Bank would otherwise have, whether by other instruments or by law. 
 BORROWER AND BANK ACKNOWLEDGE THAT
THE RIGHT TO TRIAL BY JURY MAY BE WAIVED. EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR CHOICE, KNOWINGLY AND VOLUNTARILY, AND FOR THEIR MUTUAL BENEFIT, WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT
OF LITIGATION REGARDING THE PERFORMANCE OR ENFORCEMENT OF, OR IN ANY WAY RELATED TO, THIS NOTE OR THE INDEBTEDNESS HEREUNDER. 

Borrower acknowledges that this Note is issued, delivered and accepted in Toronto, Ontario and any approval or extension of credit pursuant to
this Note is extended by Bank from its office in Toronto, Ontario. 
 The indebtedness evidenced by this Note is in renewal, extension and
modification, but not in extinguishment or novation, of the indebtedness evidenced by that certain specialized equipment export master revolving promissory note dated January 31, 2013 in the original principal amount of Two Million US Dollars
(US$2,000,000), executed by the Borrower and payable to the order of Bank. 
  

					
	 MANITEX LIFTKING, ULC

			
		 	 By:
	 	 /s/ David H. Gransee

			
		 	 Its:
	 	 Vice President

 EXHIBIT “A” 

REQUEST FOR ADVANCE 
  

	TO:	 COMERICA BANK (the “Bank”) 

The undersigned, MANITEX LIFTKING, ULC, an Alberta corporation (“Borrower”), hereby requests the Bank to make a(an)
                     Advance under the Second Amended and Restated Specialized Equipment Export Master Revolving Note dated as of November
    , 2013 in the principal amount of Three Million US Dollars (US$3,000,000) made by Borrower to Bank (the “Note”), pursuant to the following terms: 

Export Development Canada Guarantee Maturity Date:
                     
 Scheduled delivery date of
financed Goods:                      
 Account Debtor:
                     (as identified in Guaranteed Contract) 

Shipment Date:                      

For the first Request for Advance under a Guaranteed Contract, attached hereto as Exhibit A is a true copy of the executed Guaranteed Contract
for which the Advance(s) is/are requested and for each subsequent Request for Advance under the applicable Guaranteed Contract, attached as Exhibit A is the name of the parties to the contract, the date of the contract and any amendments to the
contract which have not been previously delivered to the Bank. 
 Attached hereto as Schedule A is a detailed list of each Advance requested
under the above referenced Guaranteed Contract, including date of Advance, and amount (with currency identified). 
  

					
	 A.
	  	 Material Costs:
	  	 US$             [attach invoices/receipts]

			
		  		  	 C$             [attach invoices/receipts]

			
	 B.
	  	 Labour Costs:
	  	 C$             [attach payable report showing payroll debits

		  		  	 for period of determination or receipts as applicable]

			
	 C.
	  	 Total (A+B)
	  	 C/US$             [convert all totals to the currency of the advance being
requested]

			
	 D.
	  	 90% of Total:
	  	 $            

					
			
	 Amount (from D):
	  	 C$            
	  	 (If a Canadian Prime-based Advance)

			
		  	 US$            
	  	 (If a US Prime-based Advance)

	
	 Advance Date:             , 20    .

 The undersigned represents, warrants and certifies that no Default, or any condition or event
which, with the giving of notice or the running of time, or both, would constitute a Default, has occurred and is continuing under the Note, and none will exist upon the making of the Advance requested hereunder. The undersigned further certifies
that upon advancing the sum requested hereunder, the aggregate principal amount outstanding under the Note will not exceed the face amount thereof. If the amount advanced to the undersigned under the Note shall at any time exceed the face amount
thereof, the undersigned will immediately pay such excess amount, without any necessity of notice or demand. 
 The
undersigned hereby authorizes Bank to disburse the proceeds of the Advance being requested by this Request for Advance by crediting the account of the undersigned with Bank separately designated by the undersigned or as the undersigned may otherwise
direct. 
 Capitalized terms used but not otherwise defined herein shall have the respective meanings given to them in the
Note. 
 Dated this      day of
            ,     . 

 
			
	 MANITEX LIFTKING, ULC

		
	 By:
	 	  

		
	 Its:EX-10.1

 Exhibit 10.1 

Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 
 MASSACHUSETTS INSTITUTE OF TECHNOLOGY 

OFFICE OF SPONSORED PROGRAMS 

RESEARCH AGREEMENT 
 This Research
Agreement (“Agreement”) is made effective as of 3 May 2012 (the “Effective Date”), by and between Massachusetts Institute of Technology, located at 77 Massachusetts Avenue, Cambridge, Massachusetts 02139 (herein after
referred to as “MIT”), and Fibrocell Science, located at 405 Eagleview Blvd, Exton, PA 19341(hereinafter referred to as the “Sponsor”). Party shall mean the Sponsor or MIT as the context dictates, and when used in the
plural, shall mean the Sponsor and MIT. 
 WHEREAS, the research program contemplated by this Agreement is of mutual interest and benefit to MIT and
to the Sponsor, and will further the instructional and research objectives of MIT in a manner consistent with its status as a non-profit, tax-exempt, educational institution. 

NOW, THEREFORE, the Parties hereto agree as follows: 
  

	1.	STATEMENT OF WORK. MIT agrees to use reasonable efforts to perform the research program as described in Attachment A (the “Research”) to this Agreement. 

 

	2.	PRINCIPAL INVESTIGATOR. The Research will be supervised by Daniel Anderson the “Principal Investigator”. If, for any reason, Daniel Anderson is unable to continue to serve as Principal Investigator and
a successor reasonably acceptable to both MIT and the Sponsor is not available, this Agreement shall be terminated as provided in Article 6. 

  

	3.	PERIOD OF PERFORMANCE. The Research shall be conducted during the period commencing July 1, 2012 (the “Start Date”) and, unless earlier terminated in accordance with this Agreement, ending
June 30, 2015 (the “Completion Date”). The Completion Date may be modified or extended only by mutual written agreement of the Parties. 

  

	4.	REIMBURSEMENT OF COSTS. In consideration of the foregoing, the Sponsor shall reimburse MIT for all direct and F&A (Facilities & Administrative or indirect) costs incurred in the performance of the
Research, including business class fares for international travel of faculty and staff. Total reimbursements shall not exceed the total estimated project cost of [*****] without written authorization from the Sponsor. 

  
 1 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	5.	PAYMENT. Payment(s) shall be made to MIT by the Sponsor in advance in U.S. dollars, excluding taxes or impost of any kind, as follows: 

 

													
	7/1/2012	 	[*****]	  		  		  		  		  	
	10/1/2012	 	[*****]	  		  		  		  		  	
	1/1/2013	 	[*****]	  		  		  		  		  	
	4/1/2013	 	[*****]	  		  		  		  		  	
							
	7/1/2013	 	[*****]	  		  		  		  		  	
	10/1/2013	 	[*****]	  		  		  		  		  	
	1/1/2014	 	[*****]	  		  		  		  		  	
	4/1/2014	 	[*****]	  		  		  		  		  	
							
	7/1/2014	 	[*****]	  		  		  		  		  	
	10/1/2014	 	[*****]	  		  		  		  		  	
	1/1/2015	 	[*****]	  		  		  		  		  	

 Information for payment(s) by wire transfer appears in Attachment B to this Agreement. 

A final financial accounting of all costs incurred and all funds received by MIT hereunder, together with a check for the amount of the
unexpended balance, if any, shall be submitted to the Sponsor within ninety (90) days following the Completion Date or termination of this Agreement. 
  

	6.	TERMINATION. This Agreement may be terminated by either Party upon sixty (60) days’ prior written notice to the other Party. Upon termination by either Party, MIT will be reimbursed as specified in
Article 4 for all costs and non-cancelable commitments incurred in connection with the Research up to and including the effective date of termination, such reimbursement not to exceed the total estimated cost specified in Article 4.

  

	7.	CONFIDENTIAL INFORMATION. If, in the performance of the Research, the Principal Investigator and members of the MIT research team require and accept access to the Sponsor’s “Confidential
Information” (as defined in Attachment C to this Agreement), the rights and obligations of the Parties with respect to such information shall be governed by the terms and conditions set forth in Attachment C to this Agreement.

  

	8.	PUBLICATIONS. MIT will be free to publish the results of the Research after providing the Sponsor with a thirty (30) day period in which to review each publication to identify patentable subject matter and
to identify any inadvertent disclosure of Confidential Information. If necessary to permit the preparation and filing of U.S. patent applications, the Principal Investigator may agree to an additional review period not to exceed sixty
(60) days. Any further extension will require subsequent agreement between the Sponsor and MIT. 

  
 2 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	9.	SPONSOR INTELLECTUAL PROPERTY. Title to any invention conceived or first reduced to practice in performance of the Research solely by the Sponsor’s personnel without significant use of MIT administered funds
or facilities (“Sponsor Invention”) shall remain with the Sponsor. Title to and the copyright in any copyrightable material first produced or composed in the performance of the Research solely by the Sponsor’s personnel without
significant use of MIT administered funds or facilities (“Sponsor Copyright”) shall remain with the Sponsor. Neither Sponsor Inventions nor Sponsor Copyrights shall be subject to the terms and conditions of this Agreement.

  

	10.	JOINT INTELLECTUAL PROPERTY. 

  

	 	A.	JOINT INVENTIONS. The Parties shall have joint title to (i) any invention conceived or first reduced to practice jointly by employees and/or students of MIT and the Sponsor’s
personnel in the performance of the Research and (ii) any invention conceived or first reduced to practice by the Sponsor’s personnel in the performance of the Research with significant use of funds or facilities administered by MIT (each,
a “Joint Invention”). The Sponsor shall be notified of any Joint Invention promptly after an invention disclosure is received by MIT’s Technology Licensing Office. MIT shall have the first right to file a patent application on a Joint
Invention in the names of both Parties. All expenses incurred in obtaining and maintaining any patent on such Joint Invention shall be equally shared except that, if one Party declines to share in such expenses, the other Party may take over the
prosecution and maintenance thereof, at its own expense, provided that title to the patent remains in the names of both Parties. 

  

	 	B.	LICENSES. Each Party shall have the independent, unrestricted right to license to third parties any such Joint Invention without accounting to the other Party, except that the Sponsor shall be entitled to
request an exclusive license to MIT’s interest in a Joint Invention as provided under paragraph 11.B.2. below. 

  

	 	C.	JOINTLY DEVELOPED COPYRIGHTABLE MATERIALS. Copyrightable materials, including computer software, developed in the performance of the Research (i) jointly
by employees and/or students of MIT and the Sponsor’s personnel, or (ii) by the Sponsor’s personnel with significant use of funds or facilities administered by MIT, shall be jointly owned by both Parties, who shall each have the
independent, unrestricted right to dispose of such copyrightable materials and their share of the copyrights therein as they deem appropriate, without any obligation of accounting to the other Party. 

  
 3 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	11.	MIT INTELLECTUAL PROPERTY. 

  

	 	A.	MIT INVENTIONS. MIT shall have sole title to (i) any invention conceived or first reduced to practice solely by employees and/or students of MIT in the performance of the Research (each an “MIT
Invention”) and (ii) any invention conceived or first reduced to practice by the Sponsor’s personnel with significant use of funds or facilities administered by MIT, if the invention is conceived or reduced to practice other than in
the performance of the Research. The Sponsor shall be notified of any MIT Invention promptly after a disclosure is received by MIT’s Technology Licensing Office. MIT (a) may file a patent application at its own discretion or (b) shall
do so at the request of the Sponsor and at the Sponsor’s expense. 

  

	 	B.	LICENSING OPTIONS. For each MIT Invention on which a patent application is filed by MIT, MIT hereby grants the Sponsor a non-exclusive, non-transferable, royalty-free license for internal
research purposes. The Sponsor shall further be entitled to elect one of the following alternatives by notice in writing to MIT within six (6) months after MIT’s notification to the Sponsor that a patent application has been filed:

  

	 	1.	a non-exclusive, non-transferable, world-wide, royalty-free license (in a designated field of use, where appropriate) to the Sponsor, without the right to sublicense, in the United States and/or any foreign country
elected by the Sponsor pursuant to Section 11.C. below, to make, have made, use, lease, sell and import products embodying or produced through the use of such invention, provided that the Sponsor agrees to demonstrate reasonable efforts to
commercialize the technology in the public interest and reimburse MIT for the costs of patent prosecution and maintenance in the United States and any elected foreign country; or 

 

	 	2.	a royalty-bearing, limited-term, exclusive license (subject to third party rights, if any, and in a designated field of use, where appropriate) to the Sponsor, including the right to sublicense, in the United States
and/or any foreign country elected by the Sponsor pursuant to Section 11.C. below, to make, have made, use, lease, sell and import products embodying or produced through the use of such invention. This option to elect an exclusive license is
subject to MIT’s concurrence and the negotiation of commercially reasonable license terms and conditions and conditioned upon Sponsor’s agreement to reimburse MIT for the costs of patent prosecution and maintenance in the United States and
any elected foreign country and to cause any products produced pursuant to this license that will be used or sold in the United States to be substantially manufactured in the United States. 

If the Sponsor and MIT do not enter into a license agreement within three (3) months after the Sponsor’s election to proceed under
paragraph 11.B.1. or 11.B.2. above, the Sponsor’s rights under paragraphs 11.B.1. and 11.B.2. will expire. 

  
 4 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	 	C.	FOREIGN FILING ELECTION. If the Sponsor elects a license under 11.B.1 or 11.B.2., the Sponsor shall notify MIT of those foreign countries in which it desires a license in
sufficient time for MIT to satisfy the patent law requirements of those countries. The Sponsor will reimburse MIT for the out-of-pocket costs, including patent filing, prosecution and maintenance fees, related to those foreign filings.

  

	 	D.	CONFIDENTIALITY OF INVENTION DISCLOSURES. The Sponsor shall retain all invention disclosures submitted to the Sponsor by MIT in confidence and use its best
efforts to prevent their disclosure to third parties. The Sponsor shall be relieved of this obligation only when this information becomes publicly available through no fault of the Sponsor. 

 

	 	E.	COPYRIGHT OWNERSHIP AND LICENSES. Title to and the copyright in any copyrightable material first produced or composed in the performance of the Research solely
by employees and/or students of MIT shall remain with MIT. 

  

	 	1.	For any copyrights or copyrightable material other than computer software and its documentation and/or informational databases required to be delivered in accordance with Attachment A, the Sponsor is hereby granted an
irrevocable, royalty-free, non-transferable, non-exclusive right and license to use, reproduce, make derivative works, display, distribute and perform all such copyrightable materials for the Sponsor’s internal purposes. 

 

	 	2.	The Sponsor shall be entitled to elect, by notice to MIT within six (6) months following MIT’s notification or delivery to the Sponsor of computer software and its documentation and/or informational databases
required to be delivered to the Sponsor in accordance with Attachment A, a royalty-free, non-transferable, non-exclusive right and license to use, reproduce, make derivative works based upon, display, and distribute to end users, such computer
software and its documentation and/or databases for internal and/or commercial purposes. If the use of the software would infringe claims of a patent application filed pursuant to paragraph 11.A. above, then the Sponsor will need to elect license
rights in such patent as set forth in 11.B. above in order to elect the license contemplated by this paragraph. If such computer software is a derivative of MIT software existing prior to the start of the Research, then such license may not be
royalty-free. 

  

	 	F.	 RIGHTS IN TRP. In the event that MIT elects to establish property rights other than patents to any
tangible research property (TRP), including but not limited to biological materials, developed during the course of the Research, MIT and 

  
 5 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 
the Sponsor will determine the disposition of rights to such property by separate agreement. MIT will, at a minimum, reserve the right to use and distribute TRP for non-commercial research
purposes. 
  

	 	G.	LICENSE EFFECTIVE DATE. All licenses elected by the Sponsor pursuant to Sections B., E. and F. of this Article 11 become effective as of the date the Parties sign a separate
license agreement. 

  

	12.	USE OF NAMES. The Sponsor and its affiliates shall not use the name “Massachusetts Institute of Technology” or any variation, adaptation, or abbreviation thereof, or the name of any of MIT’s
trustees, officers, faculty members, students, employees, or agents, or any trademark owned by MIT, in any promotional material or other public announcement or disclosure without the prior written consent of MIT’s Technology Licensing Office,
which consent MIT may withhold in its sole discretion. 

  

	13.	REPRESENTATIONS AND WARRANTIES. MIT MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND CONCERNING THE RESEARCH OR ANY INTELLECTUAL PROPERTY RIGHTS AND HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OF MIT OR THIRD PARTIES, CREATION, VALIDITY, ENFORCEABILITY AND SCOPE OF ANY INTELLECTUAL
PROPERTY RIGHTS OR CLAIMS, WHETHER ISSUED OR PENDING, AND THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE. 

IN NO EVENT SHALL EITHER PARTY, ITS TRUSTEES, DIRECTORS, OFFICERS, EMPLOYEES, STUDENTS AND AFFILIATES, BE LIABLE FOR INCIDENTAL OR
CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING ECONOMIC DAMAGES OR LOST PROFITS, REGARDLESS OF WHETHER THE PARTY WAS ADVISED, HAD OTHER REASON TO KNOW OR IN FACT KNEW OF THE POSSIBILITY OF THE FOREGOING. THIS ARTICLE 13 SHALL SURVIVE THE EXPIRATION OR
ANY EARLIER TERMINATION OF THIS AGREEMENT. 
  

	14.	NOTICES. Any notices required to be given or which shall be given under this Agreement shall be in writing and be addressed to the Parties as shown below. Notices shall be delivered by certified or registered
first class mail (air mail if not domestic) or by commercial courier service and shall be deemed to have been given or made as of the date received. 

  
 6 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

			
	MIT	  	SPONSOR
		
	 Contractual Matters
  

MIT Office of Sponsored Programs
 77 Massachusetts Avenue,
E19-750
 Cambridge, MA 02139-4307 USA
 Attention: Bernadette
Vallely
 Phone: + 1-617- 324.7211
 Fax: + 1-617-253-4734

Email: bvallely@mit.edu
	  	Contractual Matters  
 Laura Campbell

405 Eagleview Blvd.
 Exton, PA 19341

484-713-6059
 lcampbell@fibrocellscience.com

 

		
	 Invoice and Payment Matters
  

MIT Office of Sponsored Programs
 77 Massachusetts Avenue,
E19-750
 Cambridge, MA 02139-4307 USA
 Attention: Bernadette
Vallely
 Phone: + 1-617- 324-7211
 Fax: + 1-617-253-4734

Email:         bvallely@mit.edu
	  	Invoice and Payment Matters  
 Sue White

405 Eagleview Blvd.
 Exton, PA 19341

484-713-6023

swhite@fibrocellscience.com

		
	 Technical Matters
  

MIT-Koch Institute
 77 Massachusetts Avenue, 76-653

Cambridge, MA 02139-4307 USA
 Attention: Daniel Anderson

Phone: +1-617- 258-6843
 Fax: +1-617-

E-mail:         dgander@mit.edu
	  	Technical Matters  
 John Maslowski

405 Eagleview Blvd.
 Exton, PA 19341

484-713-6032

jmaslowski@fibrocellscience.com

		
	 Intellectual Property Matters
  

MIT Technology Licensing Office
 One Cambridge Center, Kendall
Square
 Room NE18-501
 Cambridge, MA 02142-1601

Attention: Director
 Phone: 617-253-6966

Fax: 617-258-6790
 Email: tlo@mit.edu
	  	Intellectual Property Matters  
 Declan Daly

405 Eagleview Blvd.
 Exton, PA 19341

484-713-6020

ddaly@fibrocellscience.com

  
 7 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	15.	ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns. Neither Party may assign this Agreement without the prior
written consent of the other Party, except to a successor to all or substantially all of its business and assets. Any attempted assignment in violation of this Article 15 is void. 

 

	16.	GOVERNING LAW. The validity and interpretation of this Agreement and the legal relationship of the Parties to it shall be governed by the laws of the Commonwealth of Massachusetts and the applicable U.S. Federal
law. 

  

	17.	MEDIATION. If a dispute arises between the Parties, either Party may notify the other of its desire to mediate the dispute and the dispute shall be mediated. 

 

	 	A.	MEDIATOR. The mediation shall be conducted by a single mediator. The Party requesting mediation shall designate two (2) or more nominees for mediator in its notice. The other Party may accept one of
the nominees or may designate its own nominees by notice addressed to the American Arbitration Association (AAA) and copied to the requesting Party. If within, thirty (30) days following the request for mediation, the Parties have not selected
a mutually acceptable mediator, a mediator shall be appointed by the AAA according to the Commercial Mediation Rules. 

  

	 	B.	NON-BINDING; EXPENSES. The mediator shall attempt to facilitate a negotiated settlement of the dispute, but shall have no authority to impose any settlement terms on the
Parties. The expenses of the mediation shall be borne equally by the Parties, but each Party shall be responsible for its own counsel fees and expenses. 

  

	 	C.	FAILED MEDIATION. If the dispute is not resolved by mediation within forty-five (45) days after commencement of mediation, each Party shall be entitled to pursue any right or other
legal remedy the Party may otherwise have. 

  

	 	D.	RIGHT TO SEEK EQUITABLE RELIEF. Notwithstanding the provisions of this Section, a Party may bring suit in a court of competent jurisdiction for
equitable relief from the other Party’s alleged breach of its confidentiality obligations without first mediating the issue. 

  

	18.	FORCE MAJEURE. Neither Party shall be liable to the other for failure to perform any of its respective obligations imposed by this Agreement provided such failure shall be occasioned by fire, flood, explosion,
lightning, windstorm, earthquake, subsidence of soil, governmental interference, civil commotion, riot, war, terrorism, strikes, labor disturbance, or any other cause beyond its reasonable control. 

  
 8 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

	19.	EXPORT CONTROLS. Each Party acknowledges that any information or materials provided by the other under this Agreement may be subject to U.S. export laws and regulations, including the International Traffic in
Arms Regulations (ITAR, 22 CFR Chapter 1, Subchapter M, Parts 120-130), Export Administration Regulations (EAR, 15 CFR Chapter VII, Subchapter C, Parts 730-774)), and Assistance to Foreign Atomic Energy Activities (10 CFR Part 810); each Party
agrees to comply with all such laws. 

 Because MIT is an institution of higher education and has many students, faculty,
staff, and visitors who are foreign persons, MIT intends to conduct the Research as fundamental research under the export regulations, such that the results generated by MIT qualify as “public domain” under ITAR Parts 120.10(a)(5) and
120.11or “publicly available under EAR Parts 734.3(b)(3) and 734.8(a, b).
 Sponsor will not knowingly disclose, and will use
commercially reasonable efforts to prevent disclosure to MIT of any information subject to ITAR controls or in the Commerce Control List (EAR Part 774 and Supplements) or 10 CFR Part 810 Restricted Data or Sensitive Nuclear Technology. If for
purposes of the Research, Sponsor intends to disclose export-controlled information to MIT, Sponsor will not disclose such information to MIT unless and until a plan for transfer, use, dissemination and control of the information has been approved
by MIT’s Export Control Officer. In the event Sponsor inadvertently (i) discloses export-controlled information or (ii) breaches this Section, any deadlines contemplated by the Statement of Work will be adjusted based on the time it
takes to address the disclosure. 
  

	20.	COUNTERPARTS. This Agreement and any amendment hereto may be executed in counterparts and all such counterparts taken together shall be deemed to constitute one and the same instrument. If this Agreement is
executed in counterparts, no signatory hereto will be bound until all the Parties named below have duly executed a counterpart of this Agreement. 

  

	21.	ENTIRE AGREEMENT. Unless otherwise specified, this Agreement and its Attachments embody the entire understanding between MIT and the Sponsor with respect to the Research, and any prior or contemporaneous
representations, either oral or written, are hereby superseded. No amendments or changes to this Agreement, including, without limitation, changes in the statement of work, period of performance or total estimated cost, shall be effective unless
made in writing and signed by authorized representatives of the Parties. 

 IN WITNESS WHEREOF, the Sponsor and MIT, intending to be
legally bound, have executed this Agreement as of the Effective Date by their respective duly authorized representatives. 

  
 9 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

									
	MASSACHUSETTS INSTITUTE OF TECHNOLOGY	 		 	SPONSOR
					
	By	 	 /s/ Stephen L. Michaels
	 		 	By	 	 /s/ David Pernock

					
	Name	 	Stephen L. Michaels	 		 	Name	 	David Pernock
					
	Title	 	Associate Director, Office of Sponsored Programs Science	 		 	Title:	 	CEO & Chairman, Fibrocell
					
	Date	 	May 10, 2012	 		 	Date	 	May 3, 2012

  
 10 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 ATTACHMENT A 

MIT STATEMENT OF WORK 
 PI: Professor
Daniel Anderson 
 Title of Proposal: Combinatorial Development of Plastics for growth and 

maintenance of human primary skin cell subpopulations 
 The
Anderson Laboratory will work to investigate both the spatially defined culture system and media requirements for maintaining cell subpopulations as defined by viable cell surface biomarkers such as: SSEA3, CD105, CD34 and CD146. FACS—purified
primary skin cell subpopulations expressing these biomarkers will be cultured under the different spatially defined culture system and the cell surface biomarker expression will be analyzed by both FACS analysis and immunocy to chemistry. Depending
on progress, combinatorial evaluation of soluble media will also be investigated. 

  
 11 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 ATTACHMENT B 

INSTRUCTIONS FOR MAKING WIRE TRANSFERSIN USD ONLY TO MIT 
  

			
	Name of bank to which funds are to be wired:	  	[*****]        
		
	Bank address:	  	[*****]        
		
	WIRE PAYMENT ABA Routing Number:	  	[*****]        
		
	SWIFT CODE:	  	[*****]        
		
	DDA Account Number:	  	[*****]        
		
	ACH ABA ROUTING Number:	  	[*****]        
		
	 Wire Details:
  

Please include Name of MIT Program,
  

MIT Principal Investigator,
  

MIT account number or MIT invoice number
  

to credit:
	  	

 Sponsor, please provide as much information as possible to identify the objective of the wire transfer, such as MIT Principal
Investigator’s name, MIT department, MIT account number, project title or descriptor, to facilitate identification of the incoming wire transfer. If there is limited space, the MIT Principal Investigator and Research Program (Title) are
probably the minimum information needed to identify the objective for the wire transfer. 
 Sponsor, please notify wire-transfers@mit.edu or Patricia Crosby
in MIT Accounts Receivable at 1.617.253.2751, pcrosby@mit.edu, that you are making a wire transfer. Provide your company name, the name of the bank or party wiring the money, the amount of the wire, the MIT Principal Investigator, Research Program
(Title) and/or account number to which this money should be transferred, and the date when the wire is expected to be made. Please include a contact at the Principal Investigator’s MIT department in case of questions and the date when the wire
is expected to be made. 

  
 12 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 ATTACHMENT C 

SPONSOR CONFIDENTIAL INFORMATION 
 If, in
the performance of the Research, the Principal Investigator and members of the MIT research team designated by him/her require and accept access offered by the Sponsor to certain information that the Sponsor considers confidential, the rights and
obligations of the Parties with respect to such information are as follows: 
  

	1.	CONFIDENTIAL INFORMATION. When used in this Agreement, “Confidential Information” means confidential and proprietary information of any kind which is disclosed by the Sponsor to MIT that (i) prior
to disclosure, is marked with a legend indicating its confidential status or (ii) is disclosed orally or visually, if the Sponsor identifies such information as confidential at the time of disclosure and, within 30 days of such disclosure,
delivers to the Principal Investigator a notice summarizing the confidential information disclosed. Notwithstanding the foregoing, in no event is information Confidential Information if it (a) was in MIT’s possession before receipt from
the Sponsor; (b) is or becomes a matter of public knowledge through no fault of MIT; (c) is received by MIT from a third party having an apparent bona fide right to disclose the information without a duty of confidentiality to the Sponsor;
or (d) is independently developed by MIT without use of the Confidential Information. 

  

	2.	LIMITATIONS ON USE. MIT shall use the Confidential Information solely for the purposes of the Research. Disclosure by the Sponsor of the Confidential Information does not constitute a grant to MIT of any right or
license to the Confidential Information except as set forth herein or in a duly executed license agreement. 

  

	3.	CARE OF CONFIDENTIAL INFORMATION. MIT shall exert reasonable efforts to maintain the Confidential Information in confidence, except that MIT may disclose or permit disclosure of any of the Confidential
Information to its directors (members of the MIT Corporation), officers, employees, consultants, advisors, students, subcontractors and agents, who need to know such Confidential Information in the performance of the Research and who have been
advised of and have agreed to maintain the confidential nature of the Confidential Information. 

 MIT shall be deemed to have
discharged its obligations hereunder provided MIT has exercised the foregoing degree of care and provided further that MIT shall immediately, upon discovery of any disclosure not authorized hereunder, notify the Sponsor and take reasonable steps to
prevent any further unauthorized disclosure or unauthorized use. 

  
 13 

 Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment
under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission 
  

 MIT’s obligations of confidentiality with respect to use and non-disclosure of
Confidential Information provided under this Agreement shall survive for a period of three (3) years following receipt of the information. 
  

	4.	REQUIRED DISCLOSURES. Nothing in this Agreement shall be construed to prevent MIT from disclosing Confidential Information as required by law or legal process, as long as MIT, if permitted by applicable law,
promptly notifies the Sponsor of its obligation to disclose and provides reasonable cooperation to the Sponsor in any efforts to contest or limit the scope of the disclosure. 

 

	5.	RETURN OR DESTRUCTION OF CONFIDENTIAL INFORMATION. When the Confidential Information is no longer required for the purposes of this Agreement, MIT shall, at the direction of the Sponsor, either destroy or return
to the Sponsor all Confidential Information and shall destroy any electronic or digital manifestations of the Confidential Information, except that MIT may retain one copy of the Confidential Information solely for the purposes of monitoring its
obligations under this Agreement. 

  
 14

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