Document:

Orgenesis Inc.: Exhibit 10.4 - Filed by newsfilecorp.com

CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Contribution, Assignment and
Assumption Agreement (this “Agreement”) is made and entered into
effective as of June __, 2018 (this “Effective Date”) by and among
Masthercell Global Inc., a Delaware corporation (the “Company”) and
Orgenesis, Inc., a Nevada corporation (the “Assignor”). 

WHEREAS, prior to the Effective
Date, the Assignor has developed, owned or possessed certain assets relating to
the provision of manufacturing and development services to third parties with
respect to cell and gene therapy products, processes and solutions and the
Assignor desires such assets set forth in Exhibit A attached hereto be
assigned to, and owned by, the Company (the “Contributed Assets”); and 

WHEREAS, in consideration of the
assignment of the Contributed Assets, the Company desires to issue to the
Assignor such number of shares of the Company’s Common Stock, par value $0.00001
per share (the “Common Stock”) representing 62.2% of the Company’s
capital stock on a fully diluted basis; and 

WHEREAS, the Contributed Assets
are to be assigned by the Assignor to the Company simultaneously with an equity
investment made by GPP-II Masthercell, LLC, a Delaware limited liability company
(“GPP”) in the Company whereby GPP shall invest up to US$25,000,000 as
consideration for the issuance and sale of such number of shares of the
Company’s Series A Preferred Stock, par value US$0.00001 per share (the
“Preferred Stock”) representing 37.8% of the capital stock of the Company
on a fully diluted basis pursuant to the terms of that certain Stock Purchase
Agreement by and between the Company, the Assignor and GPP (the “Purchase
Agreement”);

WHEREAS, it is intended that the
contribution of the Contributed Assets and the Purchase Agreement should be
treated, together, as part of the same plan of reorganization pursuant to
Section 351 of the Code. 

NOW THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Agreement
hereby agree as follows: 

1.    
Certain Definitions. As used herein, the following capitalized terms will
have the meanings set forth below: 

a.    
“Affiliate” means with respect to any specified Person, a Person that
directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, the Person specified. A Person
shall be deemed to control another Person if such first Person possesses,
directly or indirectly, the power to direct, or cause the direction of, the
management and policies of such other Person, whether through the ownership of
voting securities, by Contract or otherwise, and the terms controlled and
controlling have meanings correlative thereto. 

b.    
“Closing” means the closing of the contribution of the Contributed Assets
and the closing of the Purchase Agreement, and all other transactions provided
for in this Agreement. The Closing shall take place remotely via electronic
exchange of documents and signatures on the Closing Date. 

c.    
“Closing Date” means the date of Closing, which shall occur on or before
June __, 2018 

d.    
“Code” means the United States Internal Revenue Code of 1986, as amended.

1 

e.    
“Contributed Assets” refers to those assets further set forth in
Exhibit A, including all of the Assignor’s right, title and interest
therein. 

f.    
“GAAP” means generally accepted accounting principles of the United
States of America.

g.    
“Governmental Authority” means any court, tribunal, arbitrator,
authority, agency, commission, official or other instrumentality of the United
States or any foreign country or any state, county, city or other political
subdivision thereof. 

h.    
“Intellectual Property Rights” means, collectively, all worldwide
patents, patent applications, patent rights, copyrights, copyright
registrations, moral rights, trade names, trademarks, service marks, domain
names and registrations and/or applications for all of the foregoing, trade
secrets, know-how, mask work rights, rights in trade dress and packaging,
licenses, goodwill and all other intellectual property rights and proprietary
rights directly relating to the Contributed Assets, whether arising under the
laws of the United States of America or the laws of any other state, country or
jurisdiction. 

i.    
“Person” means an association, a corporation, an individual, a
partnership, a limited liability company, a joint venture, a trust, a business
trust, cooperative, foreign trust or foreign business organization or any other
similar entity or organization, including a Governmental Authority and the
heirs, executors, administrators, legal representatives, successors and assigns
of the “Person” when the context so permits. 

j.    
“Tax” means (i) any and all federal, state, local, or foreign Tax,
imposts, duties, fees, levies or other assessments, including income, gross
receipts, capital, escheat, license, excise, real or personal property, sales,
withholding, social security, occupation, use, service, service use, value
added, license, net worth, payroll, franchise or similar Tax or charges in the
nature of a tax, imposed by any Governmental Authority together with any
interest, fines, penalties or additions to tax and additional amounts imposed
with respect thereto and (ii) any liability in respect of any items described in
clause (i) payable by reason of contract, assumption, transferee or successor
liability, operation of Law, Treasury Regulation Section 1.1502 -6(a) (or any
similar provision under Law) or otherwise. 

k.    
“Tax Return” means any report, return, document, declaration, information
return, election or other information or filing of any kind (including any
attached schedule, supplement and additional or supporting material) filed or
required to be filed with any Governmental Authority or jurisdiction (foreign or
domestic) with respect to Tax, including any amendments thereof, claim for
refund or declaration of estimated Tax. 

2.     The
Assignor’s Contribution. 

a.    
Contribution of the Contributed Assets. Subject to the terms and
conditions of this Agreement and concurrently with, the closing of the Purchase
Agreement, at the Closing, the Assignor shall contribute, transfer, assign,
deliver and convey, to the Company all of the Assignor’s right, title and
interest in and to the Contributed Assets set forth in Exhibit A and all
rights of action, power and benefit belonging to or accruing from the
Contributed Assets including the right to undertake proceedings to recover past
and future damages and claim all other relief in respect of any acts of
infringement thereof whether such acts shall have been committed before or after
the date of this assignment, the same to be held and enjoyed by said Company,
for its own use and benefit and the use and benefit of its successors, legal
representatives and assigns, as fully and entirely as the same would have been
held and enjoyed by the Assignor, had this assignment not been made. 

2 

b.    
The Assignor and the Company each hereby agrees that each party and such party’s
successors and assigns will do, execute, acknowledge and deliver, or will cause
to be done, executed, acknowledged and delivered such further acts, documents,
or instruments confirming the conveyance of any of the Contributed Assets to the
Company as the other party shall reasonably deem necessary. 

c.    
The Company, upon execution of this Agreement and the assignment of the
Contributed Assets, shall assume, and hereby does assume, any and all
liabilities and obligations of the Assignor existing immediately prior to the
Closing Date with respect to the Contributed Assets and shall be responsible for
any and all such liabilities and obligations from and after the Closing Date.
The Company further agrees and confirms that the Assignor shall be fully
released from any and all such liabilities and obligations in all respects.

3.    
GPP’s Contribution. The Company hereby agrees and acknowledges that the
assignment and contribution of the Contributed Assets by the Assignor to the
Company is contingent upon the simultaneous investment by GPP into the Company
as detailed above and in the Purchase Agreement.

4.     The
Company’s Issuance of Stock. Subject to the terms and conditions of this
Agreement, at the Closing (subject to the execution of the Purchase Agreement),
the Company shall issue the Assignor such number of shares of Common Stock
representing 62.2% of the fully diluted share capital of the Company and shall
issue to GPP (subject to GPP’s execution of the Purchase Agreement and
investment in the Company) such number of shares of Preferred Stock representing
37.8% of the fully diluted share capital of the Company. 

5.    
Representations and Warranties of the Company. The Company hereby
represents and warrants to the Assignor, as of the Closing Date:

a.    
Organization. The Company is duly organized, validly existing and in good
standing under the laws of the State of Delaware and has all necessary corporate
(or equivalent) power and authority to perform its obligations hereunder. The
Company is qualified or authorized to do business under the laws of each
jurisdiction in which the conduct of its business or the ownership of its
properties requires such qualification or authorization.

b.    
Authority. The Company has the corporate power and authority to execute
and deliver this Agreement, to perform its obligations hereunder and to
consummate the transactions contemplated hereby. The execution, delivery and
performance by the Company of this Agreement have been duly and validly
authorized by all necessary corporate action, and this Agreement has been duly
executed and delivered by the Company and this Agreement constitutes the legal,
valid and binding obligations of the Company, enforceable against the Company in
accordance with its respective terms. 

c.    
No Liens. Neither the Company nor the shares of Common Stock to be issued
to the Assignor are subject to any pledge agreements, restriction agreements or
other document or instrument which affects the title to the shares of Common
Stock in any way or manner whatsoever. Upon the consummation of the transactions
contemplated by this Agreement, the shares of Common Stock will be conveyed to
the Assignor free and clear of liens and encumbrances, claims, and
interests.

d.    
Valid Issuance. The shares of Common Stock and Preferred Stock when
issued and delivered in accordance with the terms and for the consideration set
forth in this Agreement and the Purchase Agreement shall be validly issued,
fully paid, and nonassessable shares of capital stock of the Company.

3 

e.    
No Reliance. The Company is a sophisticated commercial entity and has
conducted an independent investigation, review and analysis of the assets,
business, condition (financial or otherwise), liabilities, operations and
prospects of the Assignor and the Contributed Assets. In making the
determination to proceed with the transactions contemplated by this Agreement
and the other agreements, instruments and documents contemplated hereby, the
Company has not relied upon any representations, warranties, communications or
disclosures of any nature other than those expressly set forth in Section
6. None of the Assignor or any of its managers, officers, members,
Affiliates, partners, employees, consultants, agents, counsel or advisors makes
or has made any representation or warranty, express or implied, to the Company
or any of its Affiliates or any other Person (except for the representations and
warranties made by the Assignor to the Company expressly set forth in Section
6). In no event shall the Assignor have any liability to the Company with
respect to the breach of representation, warranty or covenant under this
Agreement to the extent that the Company knew, should have known or was
disclosed information of such breach as of the execution hereof. 

6.    
Representations and Warranties of the Assignor. The Assignor hereby
represents and warrants to the Company and the Investor, as of the Closing
Date:

a.    
Organization. The Assignor is duly organized, validly existing and in
good standing under the laws of the State of Nevada and has all necessary
corporate power and authority to own, lease, license, and operate the
Contributed Assets and to perform its obligations hereunder. The Assignor is
qualified or authorized to do business under the laws of each jurisdiction in
which the conduct of its business or the ownership of its properties requires
such qualification or authorization.

b.    
Authority. The Assignor has the corporate power and authority to execute
and deliver this Agreement, to perform its obligations hereunder and to
consummate the transactions contemplated hereby. The execution, delivery and
performance by the Assignor of this Agreement and the consummation by the
Assignor of the transactions contemplated hereby have been duly and validly
authorized by all necessary corporate action, and this Agreement has been duly
executed and delivered by the Assignor and this Agreement constitutes the legal,
valid and binding obligations of the Assignor, enforceable against the Assignor
in accordance with its respective terms. 

c.    
No Conflict. The execution, delivery and performance by the Assignor of
this Agreement and the consummation of the transactions contemplated hereby, or
compliance by the Assignor with any of the provisions hereof, do not and will
not: (i) conflict with or violate the certificate of incorporation or bylaws or
other similar organizational documents of the Assignor; (ii) to the Assignor’s
knowledge conflict with or violate any law applicable to the Contributed Assets
in any material respects; (iii) conflict with or violate any order of any
Governmental Authority in any material respect; or (iv) to the Assignor’s
knowledge, result in any breach of, constitute a default (or an event that would
become a default) under, or give rise to a right of termination, modification,
notice or cancellation or require any consent of any Person pursuant to any
contract or agreement assigned by the Assignor pursuant to this Agreement. 

d.    
Contributed Assets. (a) The Assignor either has title to, owns, possesses
or has a proper license to all material rights and interests in, including the
right to use, each of the Contributed Assets, or with respect to licensed
Contributed Assets, valid licenses to use. (b) This Agreement and the
instruments and documents to be delivered by the Assignor to the Company at or
following the Closing shall be adequate and sufficient to transfer (i) the
Assignor’s entire right, title and interest in and to the Contributed Assets and
(ii) good title to the Contributed Assets, free and clear of all liens,
mortgages, encumbrances and third-party claims, rights and interests placed by
the Assignor. 

4 

e.    
Compliance with Law; Permits. The Assignor is in possession of all
permits, licenses, franchises, approvals, certificates, consents, waivers,
concessions, exemptions, orders, registrations, notices or other authorizations
of any Governmental Authority (the “Permits”) necessary for it to own,
lease, license and operate the Contributed Assets. All material Permits held by
the Assignor are valid and in full force and effect and the Assignor is not in
default under, or in violation of, any such Permit and no suspension or
cancellation of any such Permit is pending or to the Assignor’s knowledge
threatened. 

f.    
Litigation. As of the date hereof there is no pending (or to the
Assignor’s knowledge, threatened) action by or against the Assignor in
connection with the Contributed Assets. 

g.    
Intellectual Property.

i.     Exhibit A attached hereto sets forth a true,
correct and complete list of all U.S. and foreign Intellectual Property being
contributed by Assignor to the Company, if any. To the extent Intellectual
Property is being transferred by Assignor, the Assignor represents that it is
the sole and exclusive beneficial and record owners or licensee of all of the
Intellectual Property set forth in Exhibit A, and all such Intellectual
Property are subsisting, enforceable and valid (and there has been no action
asserted (or to the Assignor’s knowledge, threatened) challenging the scope,
validity or enforceability of any such Intellectual
Property).               

ii.     The Intellectual Property being assigned to the
Company by the Assignor does not infringe any Person’s Intellectual Property
rights, and there has been no such action asserted (or to the Assignor’s
knowledge, threatened) against the Assignor or any other Person.

iii.     No Person is infringing, in any respect, any
Intellectual Property owned, used, or held for use by the Assignor that is being
assigned to the Company, and no such actions have been asserted or threatened
against any Person by the Assignor or any other Person.

h.    
Tax.

i.     There are no Tax of the Assignor for which the
Company will become liable as a result of the transactions contemplated by this
Agreement. 

ii.     All income and other Tax Returns relating to the
Contributed Assets that were required to be filed have been duly and timely
filed, and all such Tax Returns were true, correct and complete in all respects
when filed. All Tax relating to the Contributed Assets (x) that were due and
payable have been duly and timely paid and (y) that accrued and are not yet due
and payable, have had adequate provision in accordance with GAAP made for their
payment.

iii.     All Tax relating to the Contributed Assets required
to be withheld and paid, including in connection with any amounts owing to any
employee, independent contractor, creditor, stockholder or third party, have
been duly and timely withheld and remitted to the appropriate Governmental
Authority.

iv.     There is no action, suit, claim, assessment, or
audit, pending, proposed in writing (or to the Assignor’s knowledge, threatened)
with respect to Tax relating to the Contributed Assets. No Governmental
Authority has made a claim in writing that the Contributed Assets may be subject
to Tax, or that a Return relating to the Contributed Assets may be required to
be filed, in a jurisdiction where no such Tax Returns have been filed.

5 

v.     There are no encumbrances for Tax upon the
Contributed Assets.

vi.     No Tax election has been made with respect to any of
the Contributed Assets that has, or may have, continuing effect on the
Contributed Asset after the Closing Date. 

vii.     No waiver, extension, or comparable consent
regarding the application of the statute of limitations with respect to any Tax
or Tax Returns relating to the Contributed Assets is outstanding, nor is there
pending any request for such a waiver, extension, or comparable consent. 

i.    
Material Contracts. Exhibit A lists a true, correct and complete
list of each of the contracts being assigned to the Company by the Assignor (the
“Material Contracts”). The Assignor has made available to the Company
true, correct and complete copy of each Material Contract. Each Material
Contract is valid and binding on the Assignor and the counterparties thereto and
is in full force and effect. No party has repudiated any provision of a Material
Contract or given written notice that a contract has terminated or will be
terminating, and the Assignor is not in breach of, or default under a Material
Contract to which it is a party. The assignment of each Material Contract to the
Company will not result in any penalty, premium or variation of the rights,
remedies, benefits or obligations of any party thereunder. 

7.    
Indemnification.

a.    
Indemnification by the Assignor. The Assignor will indemnify, defend and
hold harmless the Company, and its officers, directors, stockholders, employees,
agents, consultants, subsidiaries and parent entities (the “Company
Indemnitees”) from and against the entirety of any Damages (as hereinafter
defined) that any Company Indemnitee may suffer or incur resulting from, arising
out of, relating to, or caused by any material breach of any representation or
warranty made by the Assignor in this Agreement. The Company Indemnitees shall
not be entitled to indemnification for breach of a representation or warranty
pursuant to this Section 7(a) with respect to any matters or items that are
disclosed as exceptions to such representation and warranty in the applicable
section(s) of the Disclosure Schedule.

b.    
Indemnification by the Company. The Company will indemnify, defend and
hold harmless the Assignor, and its officers, directors, stockholders,
employees, agents, consultants, subsidiaries and parent entities (the
“Assignor Indemnitees”) from and against the entirety of any Damages that
any Assignor Indemnitee may suffer or incur resulting from, arising out of,
relating to, or caused by any material breach of any representation or warranty
made by the Company in this Agreement.

c.    
Damages. For the purposes of this Section 7, the term “Damages”
shall mean all actions, suits, proceedings, charges, complaints, claims, orders,
dues, penalties, fines, costs, amounts paid in settlement, liabilities,
obligations, liens, losses, Taxes, deficiencies, costs of investigations, court
costs, and other expenses (including reasonable attorneys fees and expenses)
whether in connection with third party claims or claims among the parties
related to the enforcement of the provisions of this Agreement.

d.    
Survival. All representations, warranties, covenants and agreements of
the parties in this Agreement will survive the execution hereof for a period of
eighteen (18) months following the Closing Date.

e.    
Limitations on Indemnification by the Assignor. With respect to matters
described in Section 7(a) above, the Assignor shall have no
liability until the Company Indemnitees have suffered aggregate damages by
reason of all such breaches in excess of $350,000 (the “Threshold”),
after which point the Assignor will be obligated to indemnify the Company
Indemnitees from and against all Damages from dollar one. Without limiting or
derogating from the Threshold, the aggregate maximum liability of the Assignor
shall be $2,500,000 (the “Cap”). Notwithstanding the foregoing, neither
the Threshold nor the Cap shall apply in respect of any Damages relating to the
Assignor’s intentional or fraudulent breach of a representation or warranty;
provided, however, that in no event shall the liability of the Assignor for
indemnification under this Section 7 for any such intentional fraudulent breach
of representation or warranty exceed the fair market value of the shares of
Common Stock received by the Assignor as of the Closing Date.

6 

8.    
Miscellaneous. 

a.    
Transfer Tax. Any and all sales, harmonized sales, use, property transfer
or gains, real estate or land transfer or gains, documentary, stamp,
registration, recording, filing, goods and services or other similar Tax payable
solely as a result of the sale or transfer of the Contributed Assets pursuant to
this Agreement (“Transfer Tax”) shall be borne by the Assignor.

b.    
Governing Law. The validity, interpretation, construction and performance
of this Agreement, and all acts and transactions pursuant hereto and the rights
and obligations of the parties hereto shall be governed, construed and
interpreted in accordance with the laws of the State of New York, without giving
effect to principles of conflicts of law. 

c.    
Entire Agreement; Relationship to Purchase Agreement. This Agreement sets
forth the entire agreement and understanding of the parties relating to the
subject matter herein and supersedes all prior or contemporaneous discussions,
understandings and agreements, whether oral or written, between them relating to
the subject matter hereof; provided, however, that his Agreement is executed and
delivered pursuant to, is in furtherance of and is subject to the terms and
conditions of, the Purchase Agreement. Nothing contained in this Agreement shall
be deemed to alter, modify, expand or diminish the terms or provisions of the
Purchase Agreement. 

d.    
Amendments and Waivers. No modification of or amendment to this
Agreement, nor any waiver of any rights under this Agreement, shall be effective
unless in writing signed by the parties to this Agreement. No delay or failure
to require performance of any provision of this Agreement shall constitute a
waiver of that provision as to that or any other instance. 

e.    
Successors and Assigns. Except as otherwise provided in this Agreement,
this Agreement, and the rights and obligations of the parties hereunder, will be
binding upon and inure to the benefit of their respective successors, assigns,
heirs, executors, administrators and legal representatives. No party to this
Agreement may assign, whether voluntarily or by operation of law, any of its
rights and obligations under this Agreement, except with the prior written
consent of the other party; provided, however, that a party may assign this
Agreement to an Affiliate without the prior written consent of the other party.
.. 

f.    
Conflict Waiver. The parties to this Agreement hereby consent to Pearl
Cohen Zedek Latzer Baratz, LLP (“Pearl Cohen”) drafting this Agreement
and continuing to represent each of the Company and the Assignor as legal
counsel on the transactions contemplated hereby and on other matters. The
parties hereto hereby (a) acknowledge that they have had an opportunity to ask
for and have obtained information relevant to such representation, including
disclosure of the reasonably foreseeable adverse consequences of such
representation; (b) acknowledge that with respect to this Agreement, Pearl Cohen
has represented the Company and the Assignor; and (c) gives its informed consent
to Pearl Cohen’s acting in such capacity. Each party recognizes the
inherent conflict of interest in such dual representation and hereby waives any
claim against the other party and against Pearl Cohen based upon such dual
representation. 

7 

g.    
Notices. Any notice, demand or request required or permitted to be given
under this Agreement shall be in writing and shall be deemed sufficient when
delivered personally or by overnight courier or sent by email, or 48 hours after
being deposited in the U.S. mail as certified or registered mail with postage
prepaid, addressed to the party to be notified at such party’s address as set
forth on the signature page, as subsequently modified by written notice, or if
no address is specified on the signature page, at the most recent address set
forth in the Company’s books and records. 

h.    
Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, the parties agree to renegotiate such
provision in good faith. In the event that the parties cannot reach a mutually
agreeable and enforceable replacement for such provision, then (i) such
provision shall be excluded from this Agreement, (ii) the balance of the
Agreement shall be interpreted as if such provision were so excluded and (iii)
the balance of the Agreement shall be enforceable in accordance with its terms.

i.    
Construction. This Agreement is the result of negotiations between and
has been reviewed by each of the parties hereto and their respective counsel, if
any; accordingly, this Agreement shall be deemed to be the product of all of the
parties hereto, and no ambiguity shall be construed in favor of or against any
one of the parties hereto. 

j.    
Counterparts. This Agreement may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed an
original, and all of which together shall constitute one and the same agreement.
Execution of a facsimile or scanned copy will have the same force and effect as
execution of an original, and a facsimile or scanned signature will be deemed an
original and valid signature. 

k.    
Tax Indemnification. The Company shall be liable for, and shall indemnify
and hold the Assignor Indemnitees harmless from and against the entirety of any
Tax liability that the Assignor Indemnitees may suffer or incur resulting from,
arising out of, relating to, or caused by the Contribution Agreement, but only
to the extent such Tax liability is a result of any action taken, or none taken
by, the Company that caused the transaction contemplated herein to be taxable to
the Assignor.

[Signature Page Follows] 

8 

IN WITNESS WHEREOF, the undersigned have executed this Agreement effective as of the date and year first
above written. 

	THE COMPANY 
	 
	MASTHERCELL GLOBAL, INC. 
	 
	 
	By: 	/s/ Vered Caplan  
	Name: 	Vered
      Caplan 
	Title: 	President 
	Address: 	c/o
      Pearl Cohen Zedek Latzer Baratz LLP 
		1500
      Broadway, NY, NY 10036 
	 	 
	 	 
	 	 
	THE ASSIGNOR 
	 
	ORGENESIS INC. 
	 
	 
	By: 	/s/ Vered Caplan 
	Name: 	Vered
      Caplan 
	Title: 	Chief
      Executive Officer 
	Address: 	20271
      Goldenrod Lane 
		Germantown, MD 20876 
	 	 

[Signature page to Contribution, Assignment and Assumption
Agreement] 

9 

EXHIBIT A 

CONTRIBUTED ASSETS 

List of Material Agreements 

	 	1. 	
      Joint Venture Agreement by and between Orgenesis Inc. and
      Atvio Biotech Ltd. dated May 10, 2016, as amended on May 30,
  2016.

	 	 	 
	 	2. 	
      Commitment Letter by Mr. Yechiel Stern, dated June 2,
      2016, pursuant to which Mr. Yechiel Stern agreed, inter alia, to
      take all actions and execute and deliver all instruments necessary to
      affect the transfer of 120 ordinary shares of Atvio Biotech Ltd., par
      value NIS1 each, constituting 60% of the Atvio shares issued to him or its
      designee, T.R.F Capital Ltd., to Orgenesis Inc.

	 	 	 
	 	3. 	
      Subscription and Shareholder Agreement by and between
      Orgenesis Inc., SFPI-FPIM (Société Fédérale de Participations et
      d’Investissement) SA and MaSTherCell SA dated on or about November
      15,2017.

	 	 	 
	 	4. 	
      Joint Venture Agreement by and between Orgenesis Inc. and
      CureCell Co., Ltd. dated March 14, 2016.

List of Intellectual Property 

	 	1. 	
      That certain License Agreement by and between Orgenesis
      Inc. and MaSTherCell SA dated December 30, 2016.

All Other Contributed Assets 

	 	1. 	
      The shares of capital stock Orgenesis directly owns in
      MaSTherCell SA, an entity formed pursuant to the laws of Belgium
      representing 53.24% of the fully diluted share capital of MaSTherCell
      SA.

	 	 	 
	 	2. 	
      The shares of capital stock in Cell Therapy Holdings SA,
      a wholly owned subsidiary of Orgenesis, holding 30.08% of the fully
      diluted share capital of MaSTherCell SA.

	 	 	 
	 	3. 	
      The Membership Interest in Masthercell U.S., LLC, a
      Delaware limited liability company and wholly owned subsidiary of
      Orgenesis and that certain Operating Agreement by and between Masthercell
      U.S., LLC and Orgenesis dated June 19, 2018.

	 	 	 
	 	4. 	
      That certain debt in the amount of $1 million owed to
      Orgenesis Inc. by Atvio Ltd.

	 	 	 
	 	5. 	
      That certain debt in the amount of $1.3 million owed to
      Orgenesis Inc. by Curecell Co. Ltd.

10Orgenesis Inc.: Exhibit 10.5 - Filed by newsfilecorp.com

EXECUTION VERSION 

TECHNOLOGY TRANSFER AGREEMENT 

This Technology Transfer
Agreement (this “Agreement”) is effective as of June 28, 2018 (the
“Effective Date”), by and between Masthercell Global Inc., a Delaware
corporation (“MTH Global”), and Orgenesis Inc., a Nevada corporation
(including its Affiliates, “Orgenesis”). MTH Global and Orgenesis are
sometimes referred to herein individually as a “Party” and collectively
as the “Parties.” 

RECITALS 

WHEREAS, MTH Global has
substantial expertise in product development and manufacturing of its own
biopharmaceutical products; and 

WHEREAS, Orgenesis SPRL, a
subsidiary of Orgenesis, Inc., and Masthercell SA, a subsidiary of Masthercell
Global, are parties to that certain Master Services Agreement, effective March
27, 2017, as amended (the “Manufacturing Agreement”) pursuant to which
MTH Global manufactures certain of Orgenesis’ therapeutic products (as further
defined below, the “Products”); 

WHEREAS, to permit
Orgenesis to continue to develop and manufacture the Products, the parties
desire to enter into this Agreement to set forth technology transfer and other
related activities to be performed by MTH Global; 

NOW, THEREFORE, in
consideration of the foregoing premises and the mutual promises and covenants
set forth below, the Parties mutually agree as follows: 

ARTICLE 1 

DEFINITIONS 

As used in this Agreement, the
following terms will have the following meanings: 

1.1    
“Affiliate” means any person or entity that,
directly or indirectly, through one or more intermediaries, owns, is owned by or
is under common ownership with, a Party, where “own,” “owned” and “ownership”
refer to (a) direct or indirect possession of at least fifty percent (50%) of
the outstanding voting securities of a corporation or a comparable ownership in
any other type of entity; or (b) the actual ability of an entity, person or
group to control and direct the management of the person or entity, whether by
contract or otherwise. 

1.2    
“Confidential Information” of a Party means all confidential or
proprietary information of such Party that the other Party (or its
Representatives) receives or learns under this Agreement. Without limiting the
foregoing (a) MTH Global’s Confidential Information shall include manufacturing
processes and methods that are (i) generally applicable to the manufacturing of
therapeutic products for third parties, and (ii) which are not specifically
related to the making, using or developing Products; and (b) Orgenesis
Confidential Information shall include materials, manufacturing processes and
methods that are required to make, use or develop Products, taken as a whole. A
Party’s Confidential Information will also include any information that
constitutes Confidential Information of such Party pursuant to the terms of the
Manufacturing Agreement. Confidential Information shall not include any
information to the extent that Recipient can demonstrate by competent evidence
(i) is now, or hereafter becomes, through no act or failure to act on the part
of Recipient or its Representatives in breach of ARTICLE 6, generally known or
available; (ii) is known by Recipient at the time of receiving such information
as shown by written records predating such receipt, however, excluding any
information that is (A) previously known by Recipient through disclosure in
connection with the Manufacturing Agreement, or (B) Transferred Information that is known by Orgenesis in its capacity as an
Affiliate of MTH Global); (iii) is furnished after the Effective Date to
Recipient by a Third Party, without breach of and not subject to any obligation
of confidentiality; or (iv) is independently developed by Recipient without use
of or reference to Confidential Information of Discloser, as shown by
independent written records contemporaneous with such development. 

1.3    
“Control,” “Controls” and “Controlled”
mean, with respect to a particular item of information or Intellectual Property
Right, that the applicable Party owns or has a license to such item or right and
has the ability to grant to the other Party access to and a license or
sublicense (as applicable) under such item or rights as provided for herein
without violating the terms of any agreement or other arrangement with any Third
Party. 

1.4    
“Discloser” has the meaning set forth in Section 6.1. 

1.5    
“General Manufacturing IP” any Intellectual Property Rights that
cover manufacturing processes and methods that are generally applicable to
manufacturing therapeutic products and not specific to the manufacturing of the
Products. 

1.6    
“Innovations” means inventions, discoveries, works of authorship,
trade secrets and other know-how or developments. 

1.7    
“Intellectual Property Rights” means all rights in, to and under
Patents, copyrights, trademarks, service marks, trade secrets, mask works and
applications for the foregoing, in any country, supra-national organization or
territory of the world. 

1.8    
“Master Production Records” or “MPRs” means master
production and control records maintained by MTH Global relating to the Products
as required under the Federal Food, Drug and Cosmetic Act and its implementing
regulations (which will include any such documentation that is generated by MTH
Global and that (i) defines the manufacturing methods, test methods,
specifications, materials, and other procedures, directions and controls
associated with the manufacture and testing of the Products, (ii) any
specifications of raw materials, resins and other consumables to be used in the
manufacture of the Products, (iii) in process and final the Products sampling
standards, and (iv) equipment and instrumentation specifications and standard
operating procedures, including, without limitation, standard operating
procedures for in-process quality control testing and the Products packaging and
aliquoting procedures). 

1.9    
“Manufacturing Process” means, for each Product, the process used
to manufacture and test such Product as described in (a) the then-current
manufacturing specification of such Product (the “Specification”)
and (b) the relevant standard operating procedure documentation for such Product
(the “SOPs”). 

1.10    
“Manufacturing-Related Documentation” has the meaning set forth in
the definition of Transferred Information. 

1.11    
“MTH Global IP” means Intellectual Property Rights Controlled by
MTH Global. 

1.12    
Orgenesis Innovations” means all Innovations that Orgenesis either
Controls as of the Effective Date or gains Control of independently of
activities under this Agreement, including all Intellectual Property Rights in
any of the foregoing.

1.13    
“Orgenesis IP” means, to the extent Controlled by Orgenesis,
Intellectual Property Rights claiming or covering Orgenesis Innovations that, in
the absence of a license thereunder, would be infringed or misappropriated by
MTH Global’s performance of its obligations under this Agreement. 

1.14    
“Patents” means (a) United States issued patents, re-examinations,
reissues, renewals, extensions, patent term restorations, and foreign
counterparts of each of the foregoing; and (b) pending applications for United
States patents and foreign counterparts thereof, whether issued or not. 

1.15    
“Process-Related IP” has the meaning set forth in Section 8.3.

1.16    
“Products” means the therapeutic products of Orgenesis Inc. or its
Affiliates or such products produced in connection with its joint ventures,
collaborations, partnerships or similar arrangements with Third Parties, in each
case that are (a) developed or manufactured by MTH Global (or its Affiliates)
for Orgenesis or its Affiliates pursuant to a manufacturing service agreement
between the Parties (or their Affiliates), and (b) designated by Orgenesis for
technology transfer under this Agreement, which designation will be in
Orgenesis’ sole and absolute discretion. 

1.17    
“Raw Materials” has the meaning set forth in Section 4.1.2. 1.18
“Recipient” has the meaning set forth in Section 6.1. 

1.19    
“Regulatory Approval” means all approvals, product and/or
establishment licenses, registrations or authorizations of all Regulatory
Authorities necessary for the manufacture, use, storage, import, export,
transport and sale of a biological product in a jurisdiction. 

1.20    
“Regulatory Authority” means a supranational, national or local
regulatory agency or other governmental entity with the authority to grant a
Regulatory Approval. 

1.21    
“Representatives” has the meaning set forth in Section 6.1. 

1.22    
“Services” means those technology transfer services to be
performed by MTH Global hereunder as set forth in ARTICLE 2, Section 4.1 and the
Work Plan. 

1.23    
“Services Commencement Date” has the meaning set forth in Section
2.1.2. 

1.24    
“Services Term” means the period commencing on the Services
Commencement Date and ending ninety (90) days thereafter. 

1.25    
“SOP” has the meaning set forth in the definition of Manufacturing
Process. 

1.26    
“Specifications” has the meaning set forth in the definition of
Manufacturing Process. 

1.27 “Third Party” means any person or
  entity other than the Parties or their respective Affiliates. 

1.28   
 “Transferred Information” means (a) the Manufacturing
Process for each Product manufactured as of the Services Commencement Date in
its then-current form, including all related information as reasonably necessary
for Orgenesis to practice the Manufacturing Processes for such Products, (b) all
documentation (including the MPRs, Specifications and SOPs) that is Controlled
by MTH Global and that is necessary to perform the Manufacturing Process for
each Product as of the Services Commencement Date (the
“Manufacturing-Related Documentation”), and (c) any other information and data in MTH Global’s possession relating to the
Manufacturing Process for each Product as may be necessary for inclusion in any
submission with a regulatory authority for approval to manufacture, market or
sell such Product. 

1.29    
“Transferred Materials” has the meaning set forth in Section
4.1.2. 

1.30    
“Trigger Date” means the earliest to occur of the following (i)
the date MTH Global receives written request from Orgenesis that it desires for
MTH Global to commence the Services, (ii) ninety (90) days prior to the
expiration of the Manufacturing Agreement, or (iii) the date Orgenesis receives
written notice from MTH Global of a completed or pending change of control. 

1.31    
“Work Plan” means the Work Plan attached hereto as Appendix
A and incorporated herein by this reference (as such Work Plan may be
amended from time to time by mutual written signed by both Parties). 

	ARTICLE 2 
	 
	OVERVIEW; WORK PLAN. 

2.1    
Project; Schedule.

2.1.1     The Parties are entering into this Agreement with
the purpose of having MTH Global perform technology transfer and other
activities as provided in the Work Plan to allow Orgenesis to manufacture the
Products after the Trigger Date.

2.1.2     Services under this Agreement will commence on
within ten (10) days after the Trigger Date (the “Services Commencement
Date”).

2.1.3     Subject to the terms and conditions of this
Agreement, during the Services Term each Party agrees to perform its obligations
under the Work Plan. In addition, during the Services Term: 

(a)     MTH Global will perform the Services in accordance
with this Agreement and the Work Plan; 

(b)     MTH Global will use or make available appropriate
personnel (including without limitation those with expertise in technical
development, manufacturing, operations, quality control, quality assurance and
regulatory affairs) to conduct the Services at one or more facilities as
designated by Orgenesis in its sole and absolute discretion; 

(c)     Orgenesis will use or make available appropriate
personnel (including without limitation those with expertise in technical
development, manufacturing, operations, quality control, quality assurance and
regulatory affairs) to receive the Services at one or more facilities as
designated by Orgenesis in its sole and absolute discretion; and (d) each Party
will assign adequate staffing and other resources and use commercially
reasonable efforts to achieve successful transfer of the Transferred Information
and Transferred Materials to Orgenesis prior to the end of the Services Term.

2.1.4     The work of each Party hereunder will be performed
in a professional and workmanlike manner in accordance with the standards of
performance in the industry.

2.1.5     Orgenesis acknowledges and agrees that the
successful technology transfer is not possible without Orgenesis’ reasonable
cooperation and reasonable assistance, and without provision of appropriate
personnel who are qualified and experienced in manufacturing of similar
therapeutic products, and MTH Global will not be responsible for any failure of
technology transfer resulting from Orgenesis’ failure to provide any such
cooperation, assistance and personnel. 

2.2    
Work Plan. 

2.2.1     Attached hereto as Appendix A is the Work
Plan for the technology transfer, manufacturing and other activities as provided
therein in accordance with the terms and conditions of this Agreement. The
Parties acknowledge that the initial Work Plan attached hereto at the time of
execution of this Agreement is a preliminary version included for guidance of
the scope of the Services but may need to be adjusted to encompass the services
needed to transfer the Transferred Information and Transferred Materials as of
the Services Commencement Date. The Parties will each review the Work Plan upon
the Services Commencement Date and will work together in good faith to agree
upon (and implement into the Work Plan) any adjustments as necessary to fully
transfer the Transferred Information and Transferred Materials to Orgenesis.

2.2.2     Each Party agrees to perform its obligations under
this Agreement in accordance with the Work Plan. Any revisions of, or amendments
or supplements to, the Work Plan must be in writing and will become effective
only upon execution by both Parties. 

2.3    
Technology Transfer Completion. Notwithstanding anything to the contrary
in this Agreement or the Work Plan, MTH Global’s obligations to provide Services
with respect to a Product will be deemed complete after three (3) process
validation runs for such Product are successfully completed at a manufacturing
facility chosen by Orgenesis, and thereafter MTH Global will have no further
obligations with respect to such Product. 

	ARTICLE 3 
	 
	PRICES AND PAYMENT. 

3.1    
Payment.

3.1.1     In consideration for MTH Global’s performance of
its obligations under this Agreement and the Work Plan, and subject to the terms
and conditions of this Agreement, Orgenesis shall pay to MTH Global for Services
at a reasonable and customary hourly rate mutually agreed between the Parties
and set forth in a written statement of work executed by both Parties prior to
commencement of the Services; it being understood and agreed the Orgenesis will
not be responsible for payment of such rate for employees of Orgenesis
performing the Services under a contractual arrangement with MTH Global provided
that Orgenesis does not charge MTH Global for performance of such Services under
such contractual arrangement.

3.1.2     Products that Orgenesis has paid MTH Global to
manufacture under the Manufacturing Agreement will be transferred to Orgenesis
free of any additional charge. 

3.1.3     Orgenesis will pay for any Raw Materials
transferred to it pursuant to Section 4.1.2 that have not been paid for by
Orgenesis pursuant to the terms of the Manufacturing Agreement at the following
rate: (a) for Raw Materials purchased from Third Parties, MTH Global’s cost of
such Raw Materials, or (b) for Raw Materials manufactured by MTH
Global, MTH Global’s actual, fully-burdened cost for such Raw Materials. 

3.2    
Third Party Costs. Orgenesis will reimburse MTH Global for any reasonable
out-of-pocket costs incurred by MTH Global (including travel expenses) in
performing the Services which are evidenced by supporting documentation to be
provided by MTH Global to Orgenesis. For any out-of-pocket cost exceeding five
hundred US dollars ($500.00), MTH Global shall receive the prior written consent
of Orgenesis prior to incurring such costs.

3.3    
Payment. Orgenesis will pay all undisputed amounts due MTH Global under
this ARTICLE 3 within sixty (60) days after receipt of each invoice from MTH
Global. All payments to be made under this Agreement shall be made in United
States dollars to a bank account designated in writing by MTH Global. 

	ARTICLE 4 
	 
	TECHNOLOGY AND INFORMATION; INTELLECTUAL PROPERTY.
    

4.1    
Technology Transfer. 

4.1.1     Transfer and Use of Transferred
Information. During the Services Term, MTH Global will transfer to Orgenesis
complete copies of the Transferred Information and Transferred Materials.
Orgenesis shall be entitled to maintain and use the Transferred Information
solely for the purposes of manufacturing the Products pursuant to the license
set forth in Section 4.2.11. For the avoidance of doubt, Orgenesis will be free
to use the Transferred Materials for any lawful purposes without restriction.

4.1.2     Transfer of Materials and Related
Information. During the Services Term, MTH Global shall transfer and/or
deliver to Orgenesis (i) any Products developed or manufactured by MTH Global on
behalf of Orgenesis prior to the Trigger Date, (ii) any raw materials purchased
specifically in connection with performance of the Services or pursuant to the
Manufacturing Agreement the “Raw Materials”), and (iii) a copy of
any documentation in MTH Global’s possession or under its Control that pertains
to such Products and Raw Materials (such documentation, collectively with the
such Products and Raw Materials, the “Transferred Materials”).

4.1.3     Intent of Transfer. For purposes of
clarity, it is the intention of the Parties that Orgenesis be able to (either
directly or through a Third Party) recommence the manufacture of Products at one
or more facilities designated by Orgenesis in its sole and absolute discretion
after the end of the Services Term with as little interruption as reasonably
possible.

4.1.4     Observation of Manufacturing Process. In
connection with such technology transfer, upon reasonable notice, MTH Global
will permit reasonable access to the facility where Products are manufactured
during normal business hours to employees of Orgenesis to learn about the
Manufacturing Process. While at the MTH Global facility, such employees shall
follow MTH Global’s policies and procedures and shall use reasonable efforts to
avoid interrupting or interfering with the work of other MTH Global personnel,
and may observe only activities related to the Products and Manufacturing
Process. If reasonably requested by Orgenesis, MTH Global personnel will visit
Orgenesis’ Facilities to consult and advise on performance of the Manufacturing
Processes. 

4.2    
Intellectual Property Rights; License. 

4.2.1     MTH Global License to Orgenesis. Subject to
the terms and conditions of this Agreement, MTH Global hereby grants to
Orgenesis a non-exclusive, worldwide, royalty-free, paid-up, nontransferable
(except as set forth in Section 8.5), sublicensable, perpetual license, under
the MTH Global IP, to: (a) use and reproduce the Transferred Information and (b)
use and practice the Manufacturing Processes; in each case of (a) and (b) solely
to the extent necessary to manufacture and have manufactured the Products.
Except for the foregoing, no other license is granted, no other use is
permitted, and all other rights are expressly reserved. Orgenesis shall have no
rights, title or interest in, or to, any MTH Global IP other than the license
expressly set forth in this Section 4.2.1. 

4.2.2     Orgenesis IP. MTH Global shall have no
rights, title or interest into any Orgenesis IP and no such Orgenesis IP shall
be deemed transferred or licensed to MTH Global pursuant to this Agreement.
Furthermore, nothing in this Agreement or the Work Plan shall derogate from,
limit or affect Orgenesis’ ownership of any Intellectual Property as set forth
in the Manufacturing Agreement.

	ARTICLE 5 
	 
	REPRESENTATIONS AND WARRANTIES; DISCLAIMER.
  

5.1    
Product Warranties and Remedy. To the extent MTH Global transfers any
Products to Orgenesis in connection with this Agreement and/or the Work Plan,
MTH Global warrants that the Products to be transferred are free and clear of
any encumbrances, mortgages, liens, pledges or third party rights of any
kind.

5.2    
General Representations and Warranties. Each Party hereby represents and
warrants to the other Party that: 

5.2.1     
Existence and Power. It is a corporation duly organized, validly existing
and in good standing under the laws of the state or country in which it is
incorporated or organized, as applicable, and has full corporate or company
power and authority and the legal right to own and operate its property and
assets and to carry on its business as it is now being conducted and as
contemplated to be conducted in this Agreement, including, without limitation,
the right to grant the licenses granted hereunder. 

5.2.2     Authority and Binding Agreement. As of the
Effective Date, (i) it has the corporate or company power and authority and the
legal right to enter into this Agreement and perform its obligations hereunder;
(ii) it has taken all necessary corporate or company action on its part required
to authorize the execution and delivery of the Agreement and the performance of
its obligations hereunder; and (iii) the Agreement has been duly executed and
delivered on behalf of such Party, and constitutes a legal, valid and binding
obligation of such Party and is enforceable against it in accordance with its
terms. 

5.3    
Title and Performance: As of the Effective Date, MTH Global has
sufficient legal and/or beneficial title under the MTH Global IP necessary to
perform its activities contemplated under this Agreement and to grant the
licenses that it is obligated to grant to Orgenesis pursuant to Section 4.2.1.
MTH Global represents and warrants that it will provide the Services in a
professional and workmanlike manner, consistent with best industry practices.

5.4    
Disclaimer. EXCEPT AS SET FORTH IN THIS ARTICLE 5, NEITHER PARTY MAKES
ANY REPRESENTATIONS OR WARRANTIES, WHETHER ORAL OR WRITTEN, EXPRESS, IMPLIED,
STATUTORY OR OTHERWISE, RELATING TO ANY SUBJECT MATTER OF THIS AGREEMENT, AND
EACH PARTY HEREBY DISCLAIMS ALL OTHER WARRANTIES, INCLUDING, WITHOUT LIMITATION,
THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR
ANY WARRANTY ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE OF USAGE IN
TRADE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL TRANSFERRED
INFORMATION AND TRANSFERRED MATERIALS (OTHER THAN PRODUCTS WHICH ARE COVERED BY
ANY WARRANTIES EXPRESSLY SET FORTH IN THE MANUFACTURING AGREEMENT) ARE PROVIDED
“AS IS” WITHOUT WARRANTY OF ANY KIND.

	ARTICLE 6 
	 
	CONFIDENTIALITY. 

6.1   
 Confidential Information; Exceptions. Each Party (in such capacity,
“Recipient”) will, and will ensure that its employees,
contractors, representatives and agents (“Representatives”) will,:
(a) maintain all Confidential Information of the other Party (in such capacity,
“Discloser”) in trust and confidence; (b) not disclose any
Confidential Information of the Discloser to any Third Party (except that a
Recipient may disclose such Confidential Information to those of its
Representatives, its Affiliates and and its Affiliates’ Representatives who
require such information in order to perform a Recipient’s obligations or
exercise Recipient’s rights under this Agreement and who are subject to binding
obligations of confidentiality and materially similar to those of this ARTICLE
6); (c) not disclose or use any Confidential Information of Discloser for any
purposes other than to perform a Recipient’s obligations or exercise Recipient’s
rights under this Agreement; (d) not use any Confidential Information of
Discloser for any purpose or in any manner that would constitute a violation of
any applicable governmental laws, rules, regulations, or orders, including
without limitation the export control laws of the United States; and (e) not
reproduce any Confidential Information of Discloser in any form except as
required to perform Recipient’s obligations or exercise its rights under this
Agreement. Each Recipient will use at least the same standard of care as it uses
to protect its own Confidential Information of a similar nature to prevent
unauthorized disclosures or uses of Confidential Information of Discloser, but
in any event Recipient will use no less than commercially reasonable care to
achieve such objectives. Recipient will promptly notify Discloser upon discovery
of any unauthorized use or disclosure of the Confidential Information of
Discloser. The Parties agree that the material financial, commercial, scientific
and technical terms of the Agreement will be considered Confidential Information
of both Parties. Notwithstanding the foregoing, either Party may provide a copy
of this Agreement or otherwise disclose such terms to bona fide potential
corporate partners, potential investors or merger or acquisition partners, and
to commercial lenders, financial underwriters, investment bankers and legal and
financial advisors, provided that all such disclosures shall be made only
to such Parties on a confidential basis that is at least as protective and
restrictive as this Section 6.1. 

6.2    
Authorized Disclosure. Notwithstanding any other provision of this
Agreement, each Recipient may disclose Confidential Information of Discloser:
(i) to the extent and to the persons and entities required by an applicable
governmental law, rule, regulation or order; provided, however,
that Recipient shall first have given prompt notice to Discloser hereto as soon
as reasonably practicable to enable it to seek any available exemptions from or
limitations on such disclosure requirement and Recipient shall reasonably
cooperate, at Discloser’s expense, in such efforts by Discloser; (ii) to
permitted sublicensees (solely to the extent necessary to accomplish the
purposes of the sublicense), successors and assigns under this Agreement; (iii)
in the case of Orgenesis, to Regulatory Authorities, to the extent
necessary for the purpose of obtaining Regulatory Approval for Products and to
Third Parties to the extent necessary for the purpose of contract manufacturing of
Products; and (iv) to identified Third Parties with the prior, express,
specific, written permission of Discloser. 

6.3    
Publicity. Neither Party will issue any publicity release or announcement
containing information about this Agreement without the advance written consent
of the other Party (which consent shall not be unreasonably withheld or
delayed), except as such release or announcement may be required by law, in
which case the Party making the release or announcement shall, before making any
such release or announcement, afford the other Party a reasonable opportunity to
review and comment upon such release or announcement to the extent practicable.

6.4    
Injunctive Relief. The Parties expressly acknowledge and agree that any
breach or threatened breach of this ARTICLE 6 may cause immediate and
irreparable harm to Discloser, which harm may not be adequately compensated by
damages. Each Party therefore agrees that in the event of such breach or
threatened breach and in addition to any remedies available at law, Discloser
shall have the right to seek equitable and injunctive relief, without bond, in
connection with such a breach or threatened breach. 

	ARTICLE 7 
	 
	TERM AND TERMINATION. 

7.1    
Term. The initial term of this Agreement will commence on the Effective
Date and terminate on the last day of the Services Term. 

7.2    
Termination by Either Party for Breach. If a Party materially breaches
this Agreement, and fails to cure such breach within thirty (30) days from the
date of receipt of written notice of such breach, the non-breaching Party may
terminate this Agreement with thirty (30) days’ written notice to the other
Party. 

7.3    
Effect of Termination. Upon expiration or termination of this Agreement,
all rights and obligations of the Parties under this Agreement shall cease,
except that the following will survive: (a) accrued rights to payment and
remedies for breach; (b) ARTICLE 1 (to the extent necessary to interpret any
surviving provision of this Agreement), Section 4.2.11, ARTICLE 6, Section 7.3
and ARTICLE 8. 

	ARTICLE 8 
	 
	MISCELLANEOUS. 

8.1    
Notice. All notices hereunder shall be in writing and shall be deemed
given upon (a) personal delivery, (b) facsimile transmission with electronic
confirmation of transmission, if sent during the recipient’s normal business
hours, or otherwise on the recipient’s next normal business day, (c) receipt
after delivery by nationally-recognized bonded courier when sent for next
business day delivery, or (d) receipt after sending by certified or registered
mail, postage prepaid and return receipt requested personally, to the following
addresses or fax numbers of the respective Parties: 

	 	If to Orgenesis: 	Orgenesis Inc. 
	 	  	20271 Goldenrod Lane 
	 	  	Germantown, MD 20876 
	 	  	Attention: Vered Caplan 
	 	  	Fax: 646-878-0801 
	 	  	Email: vered.c@orgenesis.com

	 	Copy to: 	Pearl Cohen Zedek Latzer Baratz LLP 
	 		1500 Broadway  
	 	 	New York, NY 10036 
	 	 	Attention: Mark Cohen 
	 	 	Fax: 646-878-0801 
	 	 	Email: MCohen@PearlCohen.com 
	 	 	 
	 	 	 
	 	 	 
	 	If to MTH Global: 	Masthercell Global Inc. 
	 	 	c/o Pearl Cohen Zedek Latzer Baratz LLP 
	 		1500 Broadway  
	 	 	New York, NY 10036 
	 	 	Attention: Mark Cohen, Esq. 
	 	 	Fax: 646-878-0801 
	 	 	Email: vered.c@orgenesis.com 
	 	 	 
	 	Copy to: 	Pearl Cohen Zedek Latzer Baratz LLP 
	 		1500 Broadway  
	 	 	New York, NY 10036 
	 	 	Attention: Mark Cohen 
	 	 	Fax: 646-878-0801 
	 	 	Email: MCohen@PearlCohen.com 
	 	 	 
	 	Copy to: 	GPP-II Masthercell, LLC 
	 	 	c/o Great Point Partners, LLC 
	 	 	165 Mason Street, 3rd Floor 
	 	 	Greenwich, CT 06830 
	 	 	Attention: Noah F. Rhodes, III 
	 	 	Fax: (203) 971-3320 
	 	 	Email: nrhodes@gppfunds.com 
	 	 	 
	 	Copy to: 	McDermott Will & Emery LLP 
	 	 	444 West Lake Street, Suite 4000 
	 	 	Chicago, Illinois 60606 
	 	 	Attention: Brooks B. Gruemmer 
	 	 	Fax: (312) 984-7700 
	 	 	Email: bgruemmer@mwe.com 

A Party may change its address or fax number for notice by
giving notice under this Section 8.1. 

8.2    
Use of Names. Neither Party shall use the name, trade name, trademark, or
other designation of the other Party (including contraction, abbreviation or
simulation of any of the foregoing) in advertising, publicity or other
promotional activities. Under no circumstances shall either Party state or imply
in any promotional material, publication or other published announcement that
the other Party has tested or approved any product. 

8.3    
Rights in Bankruptcy. All rights and licenses granted under or pursuant
to this Agreement are, and shall otherwise be deemed to be, for purposes of
Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property”
as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that
Orgenesis, as a licensee of MTH Global IP licensed under Section 4.2.11 (the
“Process-Related IP”), shall retain and may fully exercise all of
its rights and elections under the U.S. Bankruptcy Code. The Parties further
agree that, in the event of the commencement of a bankruptcy proceeding by or
against MTH Global under the U.S. Bankruptcy Code, Orgenesis shall be entitled
to a complete duplicate of (or complete access to, as appropriate) any
Process-Related IP and all embodiments thereof, and same, if not already in its
possession, shall be promptly delivered to Orgenesis (a) upon any such
commencement of a bankruptcy proceeding upon Orgenesis written request therefor,
or (b) if not delivered under (a) above, upon rejection of this Agreement by or
on behalf of MTH Global upon written request therefor by Orgenesis. 

8.4    
Waiver. The failure on the part of either Party to exercise or enforce
any rights conferred upon it hereunder shall not be deemed to be a waiver of any
such rights nor operate to bar the exercise or enforcement thereof at any time
or times hereafter. 

8.5    
Assignment; Binding Effect. Neither Party will assign its rights or
duties under this Agreement to another without the prior express written consent
of the other Party, which shall not be unreasonably withheld; provided,
however, that either Party may assign this Agreement to (a) its
Affiliates, or (b) a successor by merger, acquisition, or sale of all or
substantially all of such Party’s business assets in the field to which this
Agreement relates, without the other Party’s consent, provided that such
successor will expressly assume in writing the obligation to perform in
accordance with the terms and conditions of this Agreement. Any purported
assignment not in compliance with this Section 8.5 shall be void. This Agreement
shall be binding upon each Party’s successors and permitted assignees. 

8.6   
 Independent Parties. Neither Party is an employee or a legal
representative of the other Party for any purpose. Neither Party shall have the
authority to enter into any contracts in the name of or on behalf of the other
Party. 

8.7    
Force Majeure. Neither Party shall be liable to the other for its failure
to perform any of its obligations under this Agreement during any period in
which such performance is delayed because rendered impracticable or impossible
due to circumstances beyond its reasonable control, including without limitation
earthquakes, governmental regulation, fire, flood, labor difficulties,
interruption of supply of key raw materials, civil disorder, and acts of God,
provided that the Party experiencing the delay promptly notifies the
other Party of the delay and uses and continues to use commercially reasonable
efforts to overcome such delay. 

8.8    
Severability. If any item or provision of this Agreement shall to any
extent be invalid or unenforceable, it shall be severed from this Agreement, and
the remainder of this Agreement shall not be affected thereby, and each term and
provision of this Agreement shall be valid and shall be enforced to the fullest
extent permitted by law. 

8.9    
Governing Law. For any disputes under this Agreement, New York law
(excluding conflict of laws principles) governs and the Parties are free to
institute litigation or seek any remedy available to them. For the purposes of
any litigation instituted by the parties related to this Agreement, the Parties
accept the jurisdiction of the competent courts sitting in the State of New
York. This Agreement shall be construed in accordance with the laws of the State
of New York and/or the United States of America which are applicable to
contracts negotiated, executed and performed within the State of New York in the
United States of America.

8.10    
Entire Agreement; Modification. This Agreement, including all Appendices
referenced herein constitutes the entire agreement and understanding of the
Parties and supersedes any prior agreements or understandings relating to the
subject matter hereof. Any modification of this Agreement shall be effective
only to the extent it is reduced to writing and signed by both Parties. This
Agreement is intended to supplement the Manufacturing Agreement, however, in the
event that any term or condition of this Agreement conflicts with the
Manufacturing Agreement, the Manufacturing Agreement will control as it relates
to the manufacture of Products and this Agreement will control for all other
purposes. 

8.11    
Jury Trial Waiver. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OF THE OTHER DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (1)
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (2) EACH SUCH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (3) EACH SUCH
PARTY MAKES THIS WAIVER VOLUNTARILY, AND (4) EACH SUCH PARTY HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS
IN THIS SECTION 8.11. 

8.12    
Limitation of Liability. EXCEPT AS SET FORTH BELOW, IN NO EVENT SHALL
EITHER PARTY BE LIABLE TO THE OTHER PARTY CONCERNING ANY SUBJECT MATTER OF THIS
AGREEMENT, REGARDLESS OF THE FORM OF ANY CLAIM OR ACTION (WHETHER IN CONTRACT,
NEGLIGENCE, STRICT LIABILITY OR OTHERWISE), FOR ANY: (A) INDIRECT, INCIDENTAL OR
CONSEQUENTIAL DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR
(B) AGGREGATE DAMAGES IN EXCESS OF THE AMOUNTS PAID OR PAYABLE BY ORGENESIS TO
MTH GLOBAL UNDER THIS AGREEMENT. THE FOREGOING LIMITATIONS SHALL NOT APPLY TO
ANY BREACH OF ARTICLE 6. THESE LIMITATIONS ARE INDEPENDENT FROM ALL OTHER
PROVISIONS OF THIS AGREEMENT AND SHALL APPLY NOTWITHSTANDING THE FAILURE OF ANY
REMEDY PROVIDED HEREIN. 

[Signature Page to Follow] 

IN WITNESS WHEREOF, the Parties hereto have caused this
Agreement to be executed by their duly authorized representatives as of the
Effective Date. 

	MASTHERCELL GLOBAL INC. 
	 
	 
	By: 	 
	Name: 	 
	Title: 	 
	  	 
	  	 
	  	 
	  	 
	ORGENSEIS INC. 
	 
	 
	By: 	 
	Name: 	 
	Title: 	 

[Signature Page to Technology Transfer Agreement] 

APPENDIX A 

Work Plan

The following shall be deemed to be included in the Work Plan
as it relates to the technology transfer contemplated by the Agreement. In each
case to the extent necessary or reasonably useful to enable Orgenesis’
performance of the Manufacturing Process, , MTH Global will:

	• 	
      provide training by the Company and its Subsidiaries to
      Orgenesis and its employees with respect to the Manufacturing Process as
      reasonably requested by Orgenesis; 

	  	
       

	• 	
      deliver copies of the Manufacturing-Related Documentation
      to Orgenesis, Transferred Information and Transferred Materials and
      provide reasonable support to Orgenesis with respect to performance of the
      Manufacturing Process at one or more manufacturing sites established by
      Orgenesis in its sole and absolute discretion; 

	  	
       

	• 	
      provide the requisite policies and procedures needed or
      required by Orgenesis to perform the Manufacturing Process or complete the
      technology transfer contemplated by this Agreement; 

	  	
       

	• 	
      provide other reasonable support for performance of the
      Manufacturing Process as may be requested by the Orgenesis; 

	  	
       

	• 	
      provide gap analysis performance; assisting in the
      implementation of SOPs, policies, instructions and standard forms;
      assisting in pre-audits to assure implementation progress and prepare the
      facility(ies) for regulatory audits; 

	  	
       

	• 	
      assist in the preparation and training of batch records;
      providing two to three weeks of observations runs for the Products to be
      performed by qualified MTH Global personnel and observed by the Orgenesis’
      employees at one or more facilities designated by Orgenesis in its sole
      and absolute discretion; provide and observe training runs for the
      Products in R&D that are established by the Orgenesis’ employees at
      Orgenesis’ facilities; 

	  	
       

	• 	
      assist in the preparation and training of work
      instructions for the Manufacturing Process; conduct observation tests for
      each method for the Products, such tests to be observed by the Orgenesis’
      employees at one or more new facilities; provide and observe training
      tests for the Products, such tests to be performed by the Orgenesis’
      employees at Orgenesis’ facilities; and 

	  	
       

	• 	
      work with Orgenesis to follow up on the progress of the
      validation runs, media fills and general working programs until the end of
      three successful clinical runs at Orgenesis’ facilities.

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