Document:

Document

EXHIBIT 10.1

DEED OF AMENDMENT

Date: December 31, 2020

Among:

(1)Citibank Europe plc (“Bank”);
(2)Renaissance Reinsurance Ltd.;
(3)DaVinci Reinsurance Ltd.; 
(4)RenaissanceRe Specialty U.S. Ltd.;
(5)Renaissance Reinsurance of Europe Unlimited Company;
(6)Renaissance Reinsurance U.S. Inc. (formerly Platinum Underwriters Reinsurance, Inc.); and 
(7)RenaissanceRe Europe AG (collectively, parties (2), (3), (4), (5), (6) and (7) shall be known as the “Companies”).

1.Background

By the execution of the following the Companies and the Bank have established a facility for the issuance of letters of credit: Committed Facility Letter for Issuance of Payment Instruments dated 17 September 2010 as amended by Letters of Amendment dated 14 July 2011, 1 October, 2013, 23 December 2014, 31 March 2015, 30 December 2015, 14 January 2016, 31 December 2016, 29 December 2017, and Deeds of Amendment dated 31 December 2018, 24 June 2019 and 31 December 2019 (as amended, the “Committed Facility Letter”).

The parties have agreed to certain further amendments to the Committed Facility Letter as detailed in this deed.

Terms and expressions defined in the Committed Facility Letter shall have the same meanings when used in this deed unless the context otherwise requires or the contrary is otherwise indicated.

The parties to this deed hereby agree that from the Effective Date (as defined below) the rights and obligations of the parties under the Committed Facility Letter and the terms of the Committed Facility Letter shall be amended as specifically set out below.

2.Effective Date

The following amendments shall take effect on and from 31 December 2020 (“Effective Date”).

3.Amendments    

With effect from the Effective Date, the following amendments shall be made to the Committed Facility Letter:
(i)Clause 1.1 of the Facility Letter shall be amended and restated in its entirety as follows:

“Further to recent conversations, Citibank Europe plc (the “Bank”) is pleased to provide a committed letter of credit issuance facility (the “Facility”) up until 31 December 2022 (the “Termination Date”) to the Companies subject to the terms and conditions set out in this Letter. Unless otherwise defined herein, capitalised terms used in this Letter are as defined in Clause 14.”

4.Costs and expenses

Each party to this deed shall bear its own costs and expenses in relation to the amendments agreed pursuant to the terms of this deed.

5.Affirmation and acceptance

With effect from the Effective Date, the terms and conditions of the Committed Facility Letter shall be read and construed by reference to this deed and all references to the Committed Facility Letter shall be deemed to incorporate the relevant amendments contained within this deed and all references in the Committed Facility Letter to “this Committed Facility Letter” shall with effect from the Effective Date be references to the Committed Facility Letter as amended by this deed.

In the event of any conflict between the terms of this deed and the Committed Facility Letter, the terms of this deed shall prevail. Except as amended by the terms of this deed, all of the terms and conditions of the Committed Facility Letter shall continue to apply and remain in full force and effect. The Companies shall, at the request of Bank, do all such acts necessary or desirable to give effect to the amendments effected or to be effected pursuant to the terms of this deed.

6.Continuation of Security

The Companies confirm that, on and after the Effective Date:

(a)notwithstanding the amendments made to the Committed Facility Letter pursuant to this deed,

i.the Amended and Restated Pledge Agreement dated 25 November 2014 between Renaissance Reinsurance Ltd. and Bank, as amended by Letters of Amendment dated 22 November 2016 and 6 September 2019, (the “RRL Pledge Agreement”) and any security granted under it continues in full force and effect;
ii.the Amended and Restated Pledge Agreement dated 25 November 2014 between DaVinci Reinsurance Ltd. and Bank, as amended by Letters of Amendment dated 22 November 2016 and 6 September 2019, (the “DaVinci Pledge Agreement”) and any security granted under it continues in full force and effect;
iii.the Amended and Restated Pledge Agreement dated 25 November 2014 between RenaissanceRe Specialty U.S. Ltd. and Bank, as amended by Letters of Amendment dated 22 November 2016 and 6 September 2019, (the “RSUS Pledge Agreement”) and any security granted under it continues in full force and effect;
iv.the Amended and Restated Pledge Agreement dated 25 November 2014 between Renaissance Reinsurance of Europe Unlimited Company and Bank, as amended by Letters of Amendment dated 22 November 2016 and 6 September 2019, (the “ROE Pledge Agreement”) and any security granted under it continues in full force and effect;
v.the Pledge Agreement dated 31 March 2015 between Renaissance Reinsurance U.S. Inc. (formerly Platinum Underwriters Reinsurance Inc.) and Bank, as amended by Letters of Amendment dated 22 November 2016 and 6 September 2019, (the “RRUS Pledge Agreement”) and any security granted under it continues in full force and effect;
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vi.the Pledge Agreement dated 24 June 2019 between RenaissanceRe Europe AG and Bank, as amended by Letter of Amendment dated 6 September 2019, (the “RREAG Pledge Agreement”), and any security granted under it continues in full force and effect; 
vii.the RRL Pledge Agreement, DaVinci Pledge Agreement, RSUS Pledge Agreement, ROE Pledge Agreement, RRUS Pledge Agreement and RREAG Pledge Agreement, collectively, the “Pledge Agreements”;
viii.the Amended and Restated Account Control Agreement dated 25 November 2014 between Renaissance Reinsurance Ltd., Citibank Europe plc and The Bank of New York Mellon, as amended by Letter of Amendment dated 22 November 2016, (the “RRL Control Agreement”) and any security granted under it continues in full force and effect;
ix.the Amended and Restated Account Control Agreement dated 25 November 2014 between DaVinci Reinsurance Ltd., Citibank Europe plc and The Bank of New York Mellon, as amended by Letter of Amendment dated 22 November 2016, (the “DaVinci Control Agreement”) and any security granted under it continues in full force and effect;
x.the Amended and Restated Account Control Agreement dated 25 November 2014 between RenaissanceRe Specialty U.S. Ltd., Citibank Europe plc and The Bank of New York Mellon, as amended by Letter of Amendment dated 22 November 2016, (the “RSUS Control Agreement”) and any security granted under it continues in full force and effect;
xi.the Amended and Restated Account Control Agreement dated 25 November 2014 between Renaissance Reinsurance of Europe Unlimited Company, Citibank Europe plc and The Bank of New York Mellon, as amended by Letter of Amendment dated 22 November 2016, (the “ROE Control Agreement”) and any security granted under it continues in full force and effect;
xii.the Account Control Agreement dated 31 March 2015 between Renaissance Reinsurance U.S. Inc. (formerly Platinum Underwriters Reinsurance Inc.), Citibank Europe plc and The Bank of New York Mellon, as amended by Letter of Amendment dated 22 November 2016, (the “RRUS Control Agreement”) and any security granted under it continues in full force and effect;
xiii.the Account Control Agreement dated 24 June 2019 between RenaissanceRe Europe AG, Citibank Europe plc and The Bank of New York Mellon (the “RREAG Control Agreement”), and any security granted under it continues in full force and effect; and
xiv.the RRL Control Agreement, DaVinci Control Agreement, RSUS Control Agreement, ROE Control Agreement, RRUS Control Agreement and RREAG Control Agreement, collectively, the “Control Agreements”,
such Pledge Agreements, Control Agreements and security extend to all obligations established by the Committed Facility Letter, as amended pursuant to this deed.

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7.Counterparts

This deed may be executed in counterparts, each of which shall be deemed to be an original, and all such counterparts taken together shall constitute one and the same agreement. This amendment shall take effect as a deed notwithstanding it is signed under hand by Bank.

8.Third party rights

No person shall have any right to enforce any provision of this deed under the Contracts (Rights of Third Parties) Act 1999.

9.Governing law

This deed (and any non-contractual obligation, dispute, controversy proceedings or claim of whatever nature arising out of it or in any way relating to this deed or its formation) shall be governed by and construed in accordance with English law.

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Signatories to the Deed of Amendment

						
	EXECUTED AS A DEED BY RENAISSANCE REINSURANCE LTD. 
acting by an officer

In the presence of

	Signed              /s/ James C. Fraser_____________

Name               James C. Fraser___________

Title                 Senior Vice President and Chief Accounting Officer

Signature of Witness /s/ Athena Tolosa_______

Name of Witness      Athena Tolosa____________

Address 12 Crow Lane, Pembroke, HM 19, Bermuda

	EXECUTED AS A DEED BY DAVINCI REINSURANCE LTD. 
acting by an officer

In the presence of

	Signed              /s/ James C. Fraser_____________

Name               James C. Fraser___________

Title                 Senior Vice President and Chief Accounting Officer

Signature of Witness /s/ Athena Tolosa_______

Name of Witness      Athena Tolosa____________

Address 12 Crow Lane, Pembroke, HM 19, Bermuda

	EXECUTED AS A DEED BY RENAISSANCERE SPECIALTY U.S. LTD. 
acting by an officer

In the presence of

	Signed              /s/ James C. Fraser_____________

Name               James C. Fraser___________

Title                 Senior Vice President and Chief Accounting Officer

Signature of Witness /s/ Athena Tolosa_______

Name of Witness      Athena Tolosa____________

Address 12 Crow Lane, Pembroke, HM 19, Bermuda

	EXECUTED AS A DEED BY RENAISSANCE REINSURANCE OF EUROPE UNLIMITED COMPANY. 
acting by a director

In the presence of

	Signed            /s/ Sean Brosnan___________________

Name             Sean Brosnan___________

Title               Director________________

Signature of Witness /s/ Adrian Hartnett-Beasley_______

Name of Witness      Adrian Hartnett-Beasley____________

Address 18th Floor, 125 Old Broad Street, London, EC2N 1AR, UK

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	EXECUTED AS A DEED BY RENAISSANCE REINSURANCE U.S. INC. 
acting by an officer

In the presence of

	Signed        /s/ James Conway__________

Name         James Conway_____________

Title           Senior Vice President, General Counsel and Secretary

Signature of Witness /s/ Michael K. Piacentini

Name of Witness       Michael K. Piacentini

Address 140 Broadway, Suite 4200, New York, NY, 10005, USA

	EXECUTED AS A DEED BY RENAISSANCERE EUROPE AG
ACTING BY AN OFFICER       

In the presence of
	Signed        /s/ James C. Fraser___________

Name         James C. Fraser________________

Title           Authorized Person______________

Signature of Witness /s/ Athena Tolosa______________

Name of Witness      Athena Tolosa ______________

Address      Beethovenstrasse 33, CH-8002, Zurich, Switzerland

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WE HEREBY CONFIRM OUR ACCEPTANCE ON BEHALF OF BANK:

By:    /s/ Niall Tuckey            
Name:    Niall Tuckey
Title:    Director

7Exhibit 10.1

 

CONSULTING SERVICES AGREEMENT

 

 

THIS
CONSULTING SERVICES AGREEMENT (the “Agreement”) is made and entered into on December 29, 2020 (the
“Effective Date”) by and between Idera Pharmaceuticals,
Inc., having a place of business at 505 Eagleview Boulevard, Suite 212, Exton, Pennsylvania 19341, USA
(hereinafter referred to as “Idera”) and Hilltop Consulting, LLC,
having a place of business located at [ADDRESS] (hereinafter referred to as the “Consultant”). Idera and
Consultant may be referred to herein individually as a “Party” and collectively as the “Parties.”

 

BACKGROUND

 

WHEREAS, Idera wishes to engage
the Consultant to provide the Services described herein and Consultant agrees to provide the Services for the compensation and
otherwise in accordance with the terms and conditions contained in this Agreement.

 

NOW THEREFORE, in consideration
of the foregoing, and for other good and valuable consideration, Idera and the Consultant, intending to be legally bound, agree
to the terms set forth below.

 

		1.	TERM.

 

Commencing as of the Effective
Date, and continuing for a period of one (1) year (the “Term”), unless earlier terminated pursuant to Section 5 hereof,
Consultant agrees that it will serve as a consultant to Idera. This Agreement may be renewed or extended for any period as may
be agreed in writing by the Parties.

 

		2.	SERVICES.

 

		(a)	Consultant’s duties and responsibilities shall be to provide services related to business
development activities, ongoing advice to the Company, and such other consulting services as the parties may mutually agree in
connection with Idera’s business requirements (the “Services”).

 

		(b)	The Consultant agrees that during the Term it is able and willing to devote the time necessary
to complete the Services in a professional manner.

 

		(c)	Consultant represents and warrants to Idera that it is under no contractual or other restrictions
or obligations that are inconsistent with the execution of this Agreement, or that will interfere with the performance of the Services.
Consultant represents and warrants that the execution and performance of this Agreement will not violate any policies or procedures
of any other person or entity for which it performs Services concurrently with those performed herein.

 

		(d)	In performing the Services, Consultant shall comply, to the best of its knowledge, with all business conduct, regulatory,
ethical, and health and safety guidelines established by any governmental authority with respect to Idera’s business.

 

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		(e)	Indemnification. Idera hereby agrees to defend, hold harmless and indemnify Consultant,
and its directors, officers and employees (the “Indemnitees”) from and against any and all liabilities, expenses and/or
losses, including reasonable legal expenses and attorneys’ fees (collectively “Losses”) resulting from Third
Party suits, claims, actions and demands to the extent that they arise or result from the Services performed pursuant to this Agreement.

 

		3.	CONSULTING FEE. 

 

Subject to the provisions hereof,
Idera shall pay Consultant the following:

 

		(a)	A rate of $15,000 per month (30 hours per month), to be paid on
or within the first five (5) business days of the applicable month.

 

		(b)	The aggregate amount paid hereunder shall not exceed $180,000 without Idera’s written
approval.

 

		(c)	Consultant shall be entitled to prompt reimbursement for all pre-approved reasonable expenses incurred
in the performance of the Services, upon submission and approval of written statements and receipts in accordance with the then
regular procedures of Idera, which are attached hereto as Exhibit A.

 

		4.	INDEPENDENT CONTRACTOR.

 

Consultant agrees that all Services
will be rendered by it as independent contractor and that this Agreement does not create an employer-employee relationship between
Consultant and Idera. Consultant shall have no right to receive any employee benefits including, but not limited to, health and
accident insurance, life insurance, sick leave, and/or vacation time. Consultant agrees to pay all taxes including, self-employment
taxes due in respect of the Consulting Fee and to indemnify Idera in the event Idera is required to pay any such taxes on behalf
of Consultant.

 

		5.	EARLY TERMINATION.

 

		(a)	If Consultant: (i) voluntarily ceases performing the Services; (ii) becomes physically or mentally
unable to perform the Services; or (iii) is terminated for cause, then, in each instance, the Consulting Fee shall cease and terminate
as of such date. Any termination “For Cause” shall be made in good faith by Idera.

 

		(b)	This Agreement may be terminated without cause by either Party upon not less than thirty (30) days
prior written notice by either Party to the other.

 

		(c)	Upon termination under Sections 5(a) or 5(b), neither Party shall have any further obligations
under this Agreement, except for the obligations which by their terms survive this termination as noted
in Section 18 hereof. Upon termination and, in any case, upon Idera’s request, Consultant shall immediately return to Idera
all Confidential Information, as hereinafter defined, and all copies thereof.

 

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		6.	RESTRICTED ACTIVITIES.

 

During the Term and for a period
of one (1) year thereafter, Consultant will not, directly or indirectly:

 

		(a)	solicit or request any employee of or consultant to Idera to leave the employ
of or cease consulting for Idera;

 

		(b)	solicit or request any employee of or consultant to Idera to join the employ
of, or begin consulting for, any individual or entity that researches, develops, markets or sells products that compete with those
of Idera;

 

		(c)	solicit or request any individual or entity that researches, develops, markets
or sells products that compete with those of Idera, to employ or retain as a consultant any employee or consultant of Idera; or

 

		(d)	induce or attempt to induce any supplier or vendor of Idera to terminate
or breach any written or oral agreement or understanding with Idera.

 

		7.	PROPRIETARY RIGHTS.

 

		(a)	Definitions. For the purposes of this Section 7, the terms set forth below shall have the following meanings:

 

		(i)	Discoveries. If Consultant makes or assists in making any invention, discovery, innovation,
improvements or ideas conceived in connection with the Services hereunder, whether patentable or not (collectively, “Discovery”),
Consultant will immediately inform Idera in writing. Consultant agrees to not reduce such Discovery to practice, either actually
or constructively, during the term of the Services, except as directed by Idera. In the event that such Discovery is constructively
or actively reduced to practice either by Consultant or Idera during the Term of this Agreement, the Discovery will be Idera’s
property, and title to the Discovery will vest in Idera or in Idera’s nominees, successors or assigns. Consultant will assign,
and hereby assigns, to Idera all its rights, title and interest in and to any Discovery without any consideration beyond what is
provided for by this Agreement. Consultant will execute all documents necessary to protect the interest of Idera in each such Discovery.
Consultant will provide assistance as needed in publishing or protecting such Discovery by patent or otherwise in any and all countries,
including in any patent office proceeding or litigation involving such Discovery.

 

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		(ii)	Copyrights. Any copyrightable work Consultant creates in the performance of the Services
hereunder is a “work made for hire”, whether published or not (hereinafter “Work Product”). Idera will
have all rights to and in such work, and it shall be Idera’s property. Consultant will assign, and hereby assigns, to Idera,
without further compensation, all of its rights, title and interest in and to any copyrightable Work Product. Consultant agrees
to execute any documents of assignment that may be required to vest ownership of the copyright in Idera. Consultant may not publish
on any matter arising from the Services without first obtaining written permission from Idera.

 

		(iii)	Confidential Information. For the purposes of this Agreement, Confidential Information shall
mean and collectively include: all information relating to the business, plans, and/or technology of Idera including, but not limited
to technical information including inventions, methods, plans, processes, specifications, characteristics, assays, raw data, scientific
preclinical or clinical data, records, databases, formulations, clinical protocols, equipment design, know-how, experience, and
trade secrets; developmental, marketing, sales, customer, supplier, consulting relationship information, operating, performance,
and cost information; computer programming techniques whether in tangible or intangible form, and all record bearing media containing
or disclosing the foregoing information and techniques including, written business plans, patents and patent applications, grant
applications, notes, and memoranda, whether in writing or presented, stored or maintained in or by electronic, magnetic, or other
means.

 

Notwithstanding the foregoing,
the term “Confidential Information” shall not include any information that: (a) can be demonstrated to have been in
the public domain or was publicly known or available prior to the date of the disclosure to Consultant; (b) can be demonstrated
in writing to have been rightfully in the possession of Consultant prior to the disclosure of such information to Consultant by
Idera; (c) lawfully becomes part of the public domain or publicly known or available by publication or otherwise, not due to any
unauthorized act or omission on the part of Consultant; or (d) is supplied to Consultant by a third party without binder of secrecy,
so long as that such third party has no obligation to Idera or any of its affiliated companies to maintain such information in
confidence.

 

Confidential Information may
be disclosed to the extent that it is required by any law, regulation, or order of court to be disclosed. Prior to disclosing proprietary
or Confidential Information of Idera, Consultant agrees that it will provide Idera with prompt written notice of such request or
requirement prior to such disclosure so that Idera may seek a protective order or other appropriate remedy. If such protective
order or other remedy is not obtained or Idera grants a written waiver hereunder, the Consultant may furnish only that limited
portion of the Confidential Information which the Consultant is legally compelled to disclose or else stand liable for contempt
or suffer other material censure or penalty; provided, however, that the Consultant shall use its best efforts to obtain
reliable assurance that confidential treatment will be accorded the Confidential Information so disclosed.

 

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		(b)	Securities Law. Consultant hereby acknowledges that he is aware that Idera’s Confidential
Information may include material, non-public information and that the United States securities laws impose restrictions on trading
securities when in possession of such information and on communicating such information to any other person when it is reasonably
foreseeable that such person is likely to trade in such securities.

 

		(c)	Non-Disclosure to Third Parties. Except as may be required by Consultant for the sole
purpose of performing the Services, Consultant shall not, at any time now or in the future, directly or indirectly, use, publish,
disseminate or otherwise disclose any Confidential Information or Concepts and Ideas to any third party without the prior written
consent of Idera, which consent may be denied in each instance and all of the same, together with publication rights, shall belong
exclusively to Idera.

 

		(c)	Idera Property. All documents, diskettes, tapes, procedural manuals, guides, specifications,
plans, drawings, designs and similar materials, lists of present, past or prospective customers, customer proposals, invitations
to submit proposals, price lists and data relating to the pricing of Idera' products and services, records, notebooks, and all
other materials containing Confidential Information or information about Discoveries or Work Product (including all copies and
reproductions thereof), that come into Consultant’s possession or control by reason of Consultant’s performance of
the relationship, whether prepared by Consultant or others: (a) are the property of Idera, (b) will not be used by Consultant in
any way other than in connection with the performance of the Services, (c) will not be provided or shown to any third party by
Consultant, (d) will not be removed from Idera's or Consultant’s premises (except as Consultant's Services require), and
(e) at the termination (for whatever reason), of Consultant's relationship with Idera, will be left with, or forthwith returned
by Consultant to Idera. No license or conveyance of any ownership rights to the Consultant is granted or implied under this Agreement.

 

		8.	EQUITABLE RELIEF.

 

Consultant agrees that any breach
of Sections 6 and 7 above by it would cause irreparable damage to Idera and that, in the event of such breach, Idera shall have,
in addition to any and all remedies of law, the right to an injunction, specific performance or other equitable relief to prevent
the violation or threatened violation of Consultant’s obligations hereunder.

 

		9.	WAIVER.

 

Any waiver by Idera of a breach
of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of the same or any other
provision hereof. All waivers by Idera shall be in writing.

 

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		10.	SEVERABILITY; REFORMATION.

 

In case any one or more of the
provisions or parts of a provision contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of
this Agreement; and this Agreement shall, to the fullest extent lawful, be reformed and construed as if such invalid or illegal
or unenforceable provision, or part of a provision, had never been contained herein, and such provision or part reformed so that
it would be valid, legal, and enforceable to the maximum extent possible. Without limiting the foregoing, if any provision (or
part of provision) contained in this Agreement shall for any reason be held to be excessively broad as to duration, activity or
subject, it shall be construed by limiting and reducing it, so as to be enforceable to the fullest extent compatible with then
existing applicable law.

 

		11.	ASSIGNMENT.

 

Idera shall have the right to
assign its rights and obligations under this Agreement to a party which assumes Idera' obligations hereunder. Consultant shall
not have the right to assign its rights or obligations under this Agreement without the prior written consent of Idera, which consent
may be withheld. This Agreement shall be binding upon and inure to the benefit of Consultant’s successors, permitted assigns
and, in the case where Consultant is an individual, heirs and legal representatives in the event of his/her death or disability.

 

		12.	USE OF NAMES. 

 

Consultant shall not use the
name of Idera for any purpose without obtaining Idera’s prior written approval thereof. Idera may use the name of Consultant
for activities related to its standard business operations, which may include press releases and other public announcements.

 

		13.	HEADINGS.

 

Headings and subheadings are
for convenience only and shall not be deemed to be a part of this Agreement.

 

		14.	AMENDMENTS.

 

This Agreement may be amended
or modified, in whole or in part, only by an instrument in writing signed by the Parties.

 

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		15.	NOTICES.

 

Any notices or other communications
required hereunder shall be in writing and shall be deemed given when delivered in person or when mailed, by certified or registered
first class mail, postage prepaid, return receipt requested, addressed to the Parties at their addresses specified in the preamble
to this Agreement or to such other addresses of which a Party shall have notified the others in accordance with the provisions
of this Section 15.

 

		16.	COUNTERPARTS.

 

This Agreement may be executed
in two or more counterparts, each of which shall constitute an original and all of which shall be deemed a single agreement.

 

		17.	GOVERNING LAW.

 

This Agreement shall be construed
in accordance with and governed for all purposes by the laws of the Commonwealth of Pennsylvania, without giving effect to conflict
of laws provisions.

 

		18.	SURVIVAL.

 

The provisions of Sections 6,
7, 8, 9, 10, 15, 17 and 18 of this Agreement shall survive the expiration of the Term or the termination of this Agreement. This
Agreement supersedes all prior agreements, written or oral, between Idera and Consultant relating to the subject matter of this
Agreement.

 

 

[Signature
Page To Follow]

 

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       IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date. 

 

	Idera Pharmaceuticals	 	Hilltop Consulting, LLC
	 	 	 	 	 
	By:	/s/ Vincent J. Milano	 	By:	/s/  Robert C. Fletcher
	Vincent J. Milano	 	Robert C. Fletcher
	 	 	 
	Date: December 29, 2020	 	Date: December 29, 2020

 

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Exhibit A

 

Idera Pharmaceuticals, Inc. Travel Policy
(POLICY NO. 217)

 

TRAVEL & ENTERTAINMENT

 

		PURPOSE:	To establish guidelines for Company travel and entertainment and to ensure travel is consistent
with Idera’s business objectives.

 

		SCOPE:	All Idera employees, directors and consultants (“Employees”).

 

		POLICY:	Idera will reimburse Employees who travel on approved Company business for all necessary reasonable
business expenses. However, in no event will reimbursement exceed actual expenses. Neither luxury, nor sub-standard modes of transportation
and accommodations should be used.

 

PROCEDURE
FOR TRAVEL:

 

Employees are expected to pay for
their travel with personal credit cards or cash. Employees are expected to pay their own credit card bill and any late fees or
finance charges are the responsibility of the Employee. Any credit card rewards from use of the card belong to the Employee.

 

PROCEDURE
FOR REIMBURSEMENT:

 

		1.	Upon return from your pre-approved business related travel,
Idera requires the Employee to submit an original travel and expense report with the business purpose identified. Travel should
be via the lowest cost alternative within reason. All original receipts are requested but receipts for expenses greater
than $20 USD are required. Expense reports must be submitted in a timely fashion. Please attach original receipts to your travel
and expense report and complete within five (5) business days from your return. Deduct any personal expenses. Any receipts not
provided must be noted on the travel and expense report. If business travel was overseas, convert to U.S. dollars and list the
exchange rate used.

 

		2.	Travel and expense reports must be signed by the Employee
and approved by the Employee’s manager before forwarding to accounting. Reimbursement will be made via the next scheduled
check run, which should be within fifteen (15) days after the accounting department receives an approved travel and expense report.

 

		3.	In the event that the Employee owes the Company funds,
the funds should accompany the completed travel and expense report. Any amounts due the Company and not paid will be deducted
from any future payment requests.

 

		4.	Any expense submitted that does not comply with the guidelines
of this policy will not be reimbursed, unless accompanied by a valid exception approved by the CFO, President or CEO.

 

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LODGING:

 

Employees are permitted to reserve hotel
rooms for out of town travel. Neither luxury, nor sub-standard accommodations should be used. Employees will only be reimbursed
for standard hotel rooms. No upgrades to suites are permitted. Saturday night stays are permitted, but not required, if the stay
results in airfare savings in excess of the extra night(s) stay and meals. Where appropriate, Employees are expected to book their
accommodations using conference hotels and discounts. It is the Employee’s responsibility to cancel reservations not expected
to be utilized. The Company will not reimburse no-show fees.

 

AIRFARE:

 

Air travel will be via the most direct
and economical means. Employees are expected to book their airfare as far in advance as possible – at least seven
(7) days in most instances. Use of "Non-Refundable" airfare is recommended. (In most cases, if the travel must change
or the trip is canceled all together, the funds can be used as a credit toward future travel, less a service charge imposed by
the airline. Employees must include this credit on their next travel and expense report that includes air travel.) Employees may
fly business class on international flights where in-flight time exceeds six hours in duration. Benefits from frequent flier memberships
are considered to belong to the Employee. The Company does not reimburse any fees or dues associated with such memberships.

 

PERSONAL TRANSPORTATION/MILEAGE:

 

Employees with a valid driver’s license
may submit expenses for the use of their personal car while on business. Employees will be reimbursed the standard IRS rate for
every mile driven on behalf of the Company that exceeds their normal commuting mileage, defined as from the Employee home to the
Company’s facility. Receipts should be submitted for any parking expenses or tolls.

 

RENTAL CARS:

 

Compact or midsize cars can be rented when
having a car is deemed necessary (i.e., taxi cabs are not prevalent or the distance from the airport or hotel to the destination
is excessive). When possible, every effort should be made to return rental cars with the proper fuel level. Receipts should be
submitted for gas with the T&E report. Additional liability and physical damage insurance should be waived for cars rented
in the United States as the Company’s travel insurance policy covers Company travel via rental cars. Employees renting cars
should include the Company’s name somewhere on the rental agreement. Additional liability and physical damage insurance should
be purchased from the rental agency for cars rented outside the United States.

 

    	Confidential – Consulting Agreement	Page -10-

     

    

 

TRAIN FARE:

 

Train travel will be via the most direct
and economical means. Employees are expected to book their train fare as far in advance as possible. Use of "Non-Refundable"
train fare is recommended. The Acela express service, where all seats are business class, is permitted for travel between Boston
and New York and DC. Employees may use first class train accommodations where on-train time exceeds seven hours in duration. Benefits
from frequent traveler memberships are considered to belong to the Employee. The Company does not reimburse any fees or dues associated
with such memberships.

 

TELEPHONE/FACSIMILES/INTERNET
SERVICES:

 

Reasonable expenses incurred while traveling
for telephone, fax, internet, and telegraph for Company business communications are reimbursable. Where applicable, Employees should
use their Company issued cell phones when traveling and not incur extensive calls through their hotel rooms. Necessary business
calls made from the Employee’s residence are reimbursable. A copy of the telephone bill and an explanation of the business
purpose should be submitted with your travel and expense report.

 

BUSINESS MEALS AND ENTERTAINMENT:

 

Meals. Individual meals can be purchased
while an Employee is traveling for approved business purposes. Individual meals will be reimbursed at the lower of $30 USD per
meal or $50 USD per day.

 

When in the best interest of the Company,
meals may be purchased for clients, affiliates, and others with whom the Company has business dealings. In addition, the government
requires detailed record keeping legitimizing the expense. The items to be documented are:

 

 

	▪	Individuals present

 

	▪	Business affiliations

 

	▪	Location

 

	▪	Date

 

	▪	BUSINESS PURPOSE OF MEETING. This can be a short phrase
such as “discuss new business”, “conduct employee review”, or “scientific discussions”

 

Reimbursements may include gratuities up
to a maximum of 20%.

 

Entertainment. Entertainment expenses
are generally not reimbursed by the Company. Entertainment expenses are only reimbursable with management prior approval. Pre-approved
entertainment will only be reimbursed where an original receipt is submitted with the T & E report.

 

    	Confidential – Consulting Agreement	Page -11-

     

    

 

NON-REIMBURSABLE EXPENSES, include but
are not limited to the following:

 

	▪	Airline club or other travel memberships

 

	▪	Airline upgrade coupon booklets

 

	▪	Airline headsets

 

	▪	Sundries

 

	▪	Laundry services (unless a trip is unexpectedly extended)

 

	▪	Lost airline tickets applications

 

	▪	Mini-bar services

 

	▪	In room movies

 

	▪	Barber/Hair Stylist

 

	▪	Manicurist

 

	▪	Masseur/Spa services

 

	▪	Birthday or other celebration gifts

 

	▪	Unauthorized donations, contributions

 

	▪	Car insurance

 

	▪	Personal items other than emergency services items purchased while traveling because of lost
                                                                                                                                                                                          or damaged baggage

 

	▪	Clothing purchases

 

	▪	Personal liquor or entertainment when not included in business dinner

 

	▪	Traffic violations and citations

 

	▪	Pet care, lawn care and snow removal while traveling

 

	▪	Theft, loss or damage to personal property

 

	▪	Cash advances and ATM fees

 

	▪	Daily newspapers while traveling

 

 

    	Confidential – Consulting Agreement	Page -12-

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