Document:

exh10-57.htm

Exhibit 10.57

Contract Number: 20151023CUCONS

Contract Date: 11/02/2015

Purchase Contract

CDII MINERALS. INC., hereby agrees to sell, and

hereby agrees to purchase the following material on the following specific terms and conditions:

	
1.

	
Material and Quality

Copper concentrate with the following typical analysis:

Cu: ≥ 35% (Reject below 20%) In DMT

Moisture:10% max

As: 0.50% max

Pb: 6% max

F: 0.10% max

Cd:0.05% max

Hg:0.01% max

S:15% min

Size: 5mm max

	
2.

	
Quantity and Origin

	
  

	
Quantity: 10,000wmt +/-10%, (ten thouands wet metric tons plus/minus ten percent) per month. 240,000 wet metric tons over 24 months

	
  

	 

Origin: Chile, Peru, and Bolivia

	
3.

	
Packing

In 1.5MT or 2MT big bags in containers.

	
4.

	
Shipment

Seller shall ship the cargo within 15 working days after the receipt of the cash deposit from Buyer.

Partial shipments are allowed.

Seller agrees to pay the extra costs generated by Partial shipment in discharge port based on formal invoice ;

Transhipment is allowed.

	
5.

	
Delivery

The cargo shall be delivered CIF CY (Incoterms 2000), Zhapu Port, China

All Terminal Handling Costs at discharge port are for the Buyer’s account.

	
6.

	
Price

Copper (Cu):

For 20% deposit part : Pay 81.5% of the final copper content at LME Cash Settlement quotation over the Q/P ;

For 80% balance part :Pay 82% of the final copper content at LME Cash Settlement quotation over the Q/P ;

Buyer has the right to reject the cargo or renegotiate with the Seller if copper content is less than 20%.

Silver:

Payment for silver shall be as per the below scale:

There will not be apayment if the silver content if the content is less than or equal to 30 (thirty) g/dmt.

If the final silver content is above 30 (thirty) g/dmt, payment of the final silver content of the Concentrate(subject to a minimum deduction of 30 grs/dmt) will be paid at the London spot quotation price for silver, as published in the Metal Bulletin in London in cents and averaged over the quotational period.( http://www.lbma.org.uk/pages/index.cfm)

  

- 1 -

  

Gold

Payment for gold shall be as per the below scale:

No payment if the final gold content is below 1 (one) g/dmt.

If the final gold content is equal to or above 1 (one) g/dmt, payment of the final gold content of the Concentrate (subject to a minimum deduction of 1grs/dmt)at the mean of the official London AM/PM quotation for gold, as published in the Metal Bulletin in London in cents and averaged over the quotational period.

(http://www.lbma.org.uk/pages/index.cfm)

Deductions (Processing Charge)

 

 

Silver:                           US$ 0.30 (US$ zero point three zero) per payable troy ounce of silver.

Gold:                           US$ 4.00 (US$ four) per payable troy ounce of gold.

Reference to the example formula how to calculate the value of Gold and Silver:

GOLD:

1.7g/mt content , then the value is(1.7g-1g)*($1329.95MBPrice-$4)/31.103=$29.84/mt

SILVER:

76g/mt content, then the value is (76g-30g)*($22MBPrice-$0.3)/31.103=$32.09/mt

Q/P (quotational period):

	
  

	
6.B.1. The quotational period for Copper shall be the average price of two months of the LME after the date of the Bill of Lading

	
  

	
6.B.2. The quotational period for Silver and Gold shall be the average price of two months of the Metal Bulletin in London after the date of the Bill of Lading

	
7.

	
Payment

After signing the contract by both parties, the Buyer shall transmit a 20% cash deposit of the total amount of contract to the Seller within 3 working days. The Buyer will issue a 100% irrevocable and non-transferable, documentary L/C at sight for 80% of the total amount of the contract wihtin 3 working days after the date by Seller’s note of L/C issuing. Any charges of L/C amendment should be paid by failure party.

The total amount of the cash deposit is transmitted based on the LME price of the date when the  money was transmitted.

Calculation example: LME present price*35%*81.5%*(100Mt-Moisture)*20% ;

The total amount of the L/C is issued base on the LME price of the date when LC issued .

Calculation example: LME present price*35%*82%*(100Mt-Moisture)*80% ;

The rate of Moisture is assumed to be 5% for hypthetic purposes. The final rate of Moisture will be determined by The Inspection Report;

The provisional payment of  the L/C cashed out is based on the date when the LC was issued . The final price will be adjusted based on the Q/P and The Inspection Report .

	
  

	
7.1

	
PAYMENT TERMS:

	
  

	
98% (NINETY EIGHT PERCENT) shall be paid in the form of a provisional payment for 80% of the total value the total shipment amount in US Dollars against L/C, net cash, after the  B/L date, against Seller’s presentation of the following shipping documents:

	
  

	
1)

	
Full set (3originals/3 copies) original shipped on board ocean B/L made out to order, blank endorsed and marked “freight prepaid”, notifying applicant.

	
  

	
2)

	
Three originals of the provisional commercial invoice indicating L/C number and contract number issued by beneficiary.

  

- 2 -

  

	
  

	
3)

	
Three original packing list showing total gross, net and dry weight, and the total number of bags and total number of containers issued by beneficiary.

	
  

	
4)

	
Two original chemical assay certificate issued by Alex Stewart in Bolivia at the loading port, showing seal No., content of Cu, Pb, As. F, Cd, Hg, S, Au, Ag ;

	
  

	
5)

	
Two original weight certificate issued by Alex Stewart in Bolivia at the loading port showing moisture in percentage, net wet metric ton and net dry metric ton.

 

	
  

	
6)

	
One original certificate of Origin issued by benenficiary.

	
  

	
7)

	
Original certificate of insurance for 110% of the provisional CIF invoice value, indicating claims payable in China and showing Buyer as the beneficiary.

 

	
  

	
8)

	
Beneficiary’s declaration confirming shipment contains no solid wood material.

	
  

	
7.2 Final payment shall be carried out by the indebted party through Telegraphic Transfer (“ T/T”), against Seller’s final invoice promptly after all data becomes known.

If the final amount is less than the total amount of the previous payments , Seller should remit the difference amount to the Buyer within 5 working days after receiving the invoice from the Buyer.

If the final amount is more than the total amount of previous payments , Buyer should remit the difference amount to the Seller whin 5 working days after receiving the invoice from the Seller;

All issuing bank charges are for Buyer’s account.

All advising/negotiating bank charges are for Seller’s account.

 

 

	
8.

	
Weighing, Sampling and Moisture determination

	
  

	
8.1  In accordance with standard international practices, Weight determination will be determined by scale weight at the discharge port with costs for Buyer’s account by CIQ/CCIC. Weight and moisture taken here shall govern as final. Assays shall be exchanged for determination of final quality The Seller has the right to be present at these operations by a surveyor or representative, acting in name and on behalf of the Seller at its own expense. The sample lot size shall be approximately per 22.50 WMT and each lot shall form a separate and complete delivery for the purposes of settlement of weight and moisture content. The results obtained shall be final and binding on both parties. Representative samples shall be taken from each lot with the following distribution:

	
  

	


	
one set of sealed samples for Buyer

	
  

	


	
one set of sealed samples for Seller

	
  

	


	
one set of sealed samples to be kept in CCIC/CIQ for umpire purposes.

8.2  When the cargo is stowed/packed into containers at the loading port, they should be inspected by the surveyor of Alex Stewart in Bolivia. The surveyor shall carry out sampling in accordance with standard international practices, the sample lot size shall be approximately per  each 22.50 WMT and each lot shall form a separate and complete delivery for the purposes of provisional of weight and moisture content. The surveyor shall seal the containers right after sampling, and place seals on them. The operations including sampling and sealing shall be conducted by the surveyor personally. In the certificates issued  by Alex Stewart in Bolivia, the words with meaning or indication such as “The result is just for the sent samples” or “We are not responsibilefor the whole shipped cargo” or with similar meaning must not appear.

8.3  If the difference in percentage of Copper content between the loading and discharge port analysis made is more than 0.5% or if there exists a significant difference between the two side analysis in respect of anyone or more chemical contents other than Copper, the seller shall consult with the buyer to reconcile such differences. If after consultation between seller and buyer the difference cannot be reconciled then the fresh umpire samples shall be drawn at discharge port shall be analyzed by an umpire (third party/independent organization) agreed to by seller and buyer, and the results of such analysis shall be final for final settlement.

Expenses of such umpire analysis shall be borne by the party whose initial analysis shows a greater difference from the umpire analysis. If the Umpire analysis is the exact mean of the analysis of Seller and the analysis of CCIC/CIQ, then such expenses shall be equally borne by both parties.

  

- 3 -

  

The above operation shall be carried out for the Seller’s account at the loading port. Buyer’s representative(s) may, at the expense of Buyer, be present to monitor the process of sampling, weighting and shipment above.

	
9.

	
ASSAYS

Assays shall be made independently by each party and the results of such assay, shall be exchanged simultaneously on a date to be agreed upon in advance.

Both buyer and seller have to exchange the results within 45 days of sampling. If one

   Party fails to exchange in the scheduled time, the results of the other party will be

considered final for settlement purposes.

Should the difference between the results of both parties be not more than :

Cu 0.3%                                                            Au           0.5g/mt                                                                Ag 30 gmt

then the exact mean of the two results shall be taken as the agreed assay for the

purpose of final accounting. In the event of greater difference, an umpire assay shall

be made by :

ALFRED H. KNIGHT INTERNATIONAL LTD

   Eccleston Grange

   Prescoat Road

   St Helens, Merseyside WA10 3BQ

   UNITED KINGDOM

ALEX STEWART (ASSAYERS) LTD

   Caddick Road

   Knowsley - Industrial Estate

   GB-Knowsley Merseyside L349 ER

   ENGLAND

acting in rotation sampled lot by sampled lot.

Should the umpire assay fall between the results of the other two parties or coincide with either, then the umpire assay shall be taken as the agreed assay.

Should the umpire assay fall outside of the exchanged results, the average assay result between the assay of the party which is nearer to the umpire assay combined the umpire assay shall be taken as the agreed assay.

The cost of the umpire assay shall be borne by the party whose result is further from the umpire's. This cost shall be borne equally by both parties when the umpire assay is the exact mean of the exchanged assays.

	
10.

	
Title and Risk

Title shall pass from the Seller to the Buyer upon the Seller's receipt of the provisional payment. Risk shall pass from the Seller to the Buyer upon delivery of material over the ships rails at the loading port.

	
11.

	
Insurance

	
  

	
   Seller shall arrange marine insurance in favour of Buyer, from an insurance company acceptable to the Buyer, covering the concentrate from the point of loading untill discharged at the receiving port, for 110% of the value finally established in accordance with this contract, on the following conditions:

         Institute Cargo Clauses (A);

         Institute Strikes Clauses (Cargo);

         Institute War Clauses (Cargo).

	
12.

	
Notices

All notices shall be made to the addresses of the parties set forth below or such subsequent address as any party may subsequently advise the other party in writing:

  

- 4 -

  

	
13.

	
Liabilities

In no event shall Seller or Buyer be liable for indirect or consequential damages or for specific performance.

	
14.

	
Choice of Law

The construction, validity and performance of the contract shall be governed by the contract law of the People’s Republic of China.

	
15.

	
Taxes, Duties, Charges and Commissions

If applicable, all duties, taxes, charges and commissions levied or assessed in the country of origin on the material and/or freight shall be for the Seller's account; and all similar levies or assessments in the country of destination shall be for the Buyer's account.

	
16.

	
Force Majeure

If the performance of any obligation (other than the obligation to pay for material) by any party to this Contract is hindered or prevented by reason of any of the following events, beyond the control of the parties:

Act of God, strike, fire, lockout, flood, war, insurrection, mob violence, lockout, combination of workmen, interference of Unions or Government, suspension of labour, accident, lack of transportation or delay en route or of any other cause whatsoever beyond the reasonable control of the Buyer or the Seller; this shall be hereinafter referred to as Force Majeure. Such notice shall set forth in reasonable detail the nature of the Force Majeure and the best estimate by the party claiming Force Majeure of the duration thereof. The party so affected shall not be liable to the other for damages on account thereof.  However, if the Seller has commenced loading of the material, or quotational period has commenced, neither the Buyer nor the Seller may declare Force Majeure.

Any event of Force Majeure so preventing or delaying the performance of any such obligation (other than the obligation to pay for material) shall entitle the party affected to suspend such performance during the time and to the extent of the Force Majeure, provided that the party affected shall inform the other promptly in writing or by telex or facsimile.

If the circumstances giving rise to a Force Majeure declaration continues for more than 60 consecutive days, the party not declaring Force Majeure shall have the right to renounce any further fulfilment of its obligations hereunder, with the exception of obligations which shall have accrued hereunder between the Buyer and the Seller.

Except by the written agreement of the Seller, this clause shall not apply to any material for which pricing has been established or vessel space has been booked or the Quotational Period is running or any advance payment has been made.

	
17.

	
Arbitration

All disputes in connection with this contract or the execution thereof shall be settled through friendly negotiation between two parties. If no settlement can be reached, the case shall then be submitted to China International Economic & Trade Arbitration Commission (“CIETAC”). The arbitration expenses shall be borne by the losing party unless otherwise awarded by the arbitration organization.

	
18.

	
Definitions

The following terms shall have the following meanings when used in this Contract:

	
  

	
1)

	
Wet metric ton or wmt means 2,204.62 pounds avoirdupois, natural state.

	
  

	
2)

	
Dry metric ton or dmt means 2,204.62 pounds avoirdupois, dry state.

	
  

	
3)

	
USD, $, Dollars and Cents means the lawful currency of the United States of America.

	
  

	
4)

	
LME means London Metal Exchange.

	
  

	
5)

	
Normal Office Hours means 9:00 - 17:00 EST on Monday through Friday for the Seller and 9:00 – 17:00 Beijing Time on Monday through Friday for the Buyer.

	
  

	
6)

	
London AM/PM Fix at LBMA means the Gold price published on the website of www.lbma.org.uk

	
19.

	
Waiver

No party shall be deemed to have waived any right, power or privilege under this agreement unless such waiver is in writing and duly executed by it. No failure or delay in exercising any right hereunder shall be deemed a waiver thereof by any party. No exercise or partial exercise of any right, power or privilege shall preclude any other or further exercise thereof or of any other right, power or privilege.

	
20.

	
Other Terms

	
  

	
1)

	
Where not in contradiction to the above, Incoterms 2000 plus latest amendments to apply.

	
  

	
2)

	
Any amendment or modification to this contract shall be made in writing and subject to confirmation by the contracting parties.

	
  

	
3)

	
This deal is to be kept strictly private and confidential. This contract shall be valid from the date when it is signed by both parties.

  

- 5 -

  

The Seller: Capital Resource Management Corporation

(Authorised signature and chop)

/s/ Capital Resource Management Corporation <Seal>

The Buyer: confidential info for business purpose

(Authorised signature and chop)

/s/ Buyer <Seal>

  

- 6 -Exhibit 10.1

 

RESEARCH AND DEVELOPMENT SERVICES AGREEMENT

 

THIS RESEARCH AND DEVELOPMENT SERVICES AGREEMENT (“Agreement”) is being entered into as of this 6th day of March, 2015 (the “Effective Date”), by and between ONCOSEC MEDICAL INCORPORATED, a Nevada Corporation with a principal place of business at 9810 Summers Ridge Rd., Ste. 110, San Diego, CA 92121 (the “Company”), and MERLIN CSI, LLC., a California Limited Liability Company, having a principal place of business at 13135 Danielson Street, #212, Poway, CA 92064 (“Merlin”). Merlin and Company are at times referred to individually as a “Party” and jointly as the “Parties.”

 

RECITALS

 

WHEREAS, Company desires to engage Merlin, and Merlin has agreed to be engaged by Company, to provide the services set forth on Exhibit “A” attached hereto and incorporated by reference (“Services”); and,

 

WHEREAS, the Services to be performed by Merlin for and on behalf of the Company relate to the research and development products which are described in Exhibit “A,” which description is incorporated by reference (the “Products”).

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the following mutual promises, representations, conditions, and covenants, the Parties hereby agree as follows:

 

1.             RECITALS.  The Recitals set forth above are hereby incorporated by reference into this Agreement, as if fully set forth herein.

 

2.             DEFINITIONS.  Capitalized terms used in this Agreement and not otherwise defined shall have the following meanings:

 

(a)           “Company Documents and Materials”  shall refer to all documents or other media, whether tangible or intangible, that contain or embody Proprietary Information, as defined below, or any other information concerning the business, operations or plans of the Company, whether such documents or media have been prepared by Company, or by others on behalf of the Company.  Company Documents and Materials include, but are not limited to, blueprints, drawings, photographs, charts, graphs, notebooks, tests, test results, experiments, customer lists, computer disks, tapes or printouts, sound recordings and other printed, electronic, typewritten or handwritten documents or information, sample products, prototypes and models.

 

(b)           “Inventions” means, the Product being developed pursuant to this Agreement resulting from the performance of the Services. Unless specifically included on Exhibit “A” as part of the Services to be performed,  the term “Inventions” does not include any software programs or subroutines, source or object code, algorithms, improvements, works of authorship, technology, designs, formulas, ideas, processes, techniques, methodology, know-how and data, whether or not patentable or copyrightable, made, discovered, conceived, reduced to practice, or developed by Merlin, which are not an integral part of the Product even if developed or discovered by Merlin in designing or developing the Product.

 

 

(c)           “Proprietary Information” means information relating to the Services or the Product which is developed, created, or discovered by or on behalf of the Company, or which became or will become known to, or was or is conveyed to the Company pursuant to this Agreement, which has commercial value in Company’s business, whether or not patentable or copyrightable, including, without limitation: (i) specifically developed software programs,  subroutines, source and object code, algorithms, (ii) specifically developed designs, technology, know-how, processes, data, ideas, techniques; (iii) works of authorship; and (iv) product development plans.  Propriety Information will also included any information provided by Company to Merlin relating to: (i) customer lists; (ii) terms of compensation and performance levels of the Company’s employees and consultants; (iii) Company’s customers; (iv) other information concerning the Company’s actual or anticipated business, research or development:  or (v) information which is received in confidence by or for the Company from any other person or entity by Merlin which is marked “Confidential.”  However, Proprietary Information does not apply to any information known to Merlin prior to the signing of this Agreement or which is common knowledge or otherwise published by Company.

 

(d)           “Services” means those services as set forth on Exhibit “A,” to be performed by Merlin for and on behalf of the Company related to the research and development of the Product.

 

(e)           “Deliverables” means all work product and related materials prepared and developed by Merlin in connection with this Agreement, including, but not limited to, the preliminary prototype components, initial design specifications and drawings, documentation of materials and processes used to fabricate the prototypes, summary of bench testing, and the materials related to the Services provided under this Agreement, including, but not limited to, all materials, prototypes and files.

 

3.             RESEARCH AND DEVELOPMENT SERVICES.  Merlin shall use commercially reasonable efforts, and devote sufficient time, attention and provide qualified personnel, to perform the Services, in accordance with the schedule set forth on Exhibit “A.” Merlin does not guarantee that the Product can be developed. If the Product cannot be developed using commercially reasonable efforts, Company will still be required to make all payments for the Services pursuant to the terms of this Agreement.

 

4.             COMPENSATION.

 

(a)           Company shall pay Merlin for the Services to be performed under this Agreement the compensation set forth on Exhibit “B,” including any hourly cost for labor performed as part of the Services (the “Labor Costs”).  Company acknowledges that the Labor Costs do not include the cost of capital equipment, outside services or First in Man (“FIM”) Product incurred in connection with Merlin’s performance of the Services (the “Excluded Costs”).  Excluded Costs will be the sole and exclusive responsibility of the Company, payable in accordance with the schedule set forth on Exhibit “B” of such Excluded Costs. Company will also pay to Merlin any and all other Compensation in accordance with the schedule set forth on Exhibit “B”.   Company will pay to Merlin travel time (door to door) related to the performance of the Services at the Labor Costs rates set forth on Exhibit “B.”

 

 

(b)           In addition, the Company will reimburse Merlin for all reasonable, documented and actual expenses, including, without limitation, actual travel expenses (airfare, hotel, rental car, meals, parking, etc.) incurred by Merlin in connection with its performance of the Services.

 

(c)           The Company shall pay to Merlin all amounts due under this Section 4 within thirty (30) calendar days of the Company’s receipt from Merlin of Merlin’s invoice.

 

(d)           Merlin has the option to invoice expenses twice per month if Merlin reasonably determines the carrying costs of these expenses warrants doing so.

 

(e)           The Company will pay all capital expenses directly to the vendor responsible for delivering the capital items.

 

5.             TERM.  The term of this Agreement shall commence on the Effective Date and continue until the earlier of: (i) Merlin’s completion of the Services; (ii) termination by either Party, for any reason, upon giving not less than thirty (30) days’ written notice to the other Party; (iii) immediately upon a material breach of this Agreement by a Party, if such breach is not cured within ten (10) days following notice of such breach; (iv) by Merlin in the event that payment is not received within thirty (30) days of an invoice being due and payable by Company; or (v) the dissolution, voluntary or involuntary bankruptcy of either Party, or assignment by either Party of all or substantially all of its assets for the benefit of creditors.  Notwithstanding the termination of this Agreement, any liability or obligation of either Party which may have accrued prior to such termination, shall continue in full force and effect, including but not limited to the rights and obligations of the Parties under Sections 4, 5, 6, 7, 8, 11, 13, and 21 of this Agreement.

 

6.             CONFIDENTIALITY OF PROPRIETARY INFORMATION.

 

(a)           Nature of Information.  Merlin acknowledges that the Company possesses and will possess Proprietary Information which is important to its business.  Merlin further acknowledges that Merlin’s engagement creates a relationship of confidence and trust between the Company and Merlin with respect to Proprietary Information.

 

(b)           Property of the Company.  All of Company Documents and Materials, all of Company’s Proprietary Information and all patents, patent rights, copyrights, Company trade secret, Company trademarks and other Company intellectual property rights, are and shall be the sole property of the Company.  Merlin assigns to the Company any and all rights, title and interest Merlin may acquire in any such Company Proprietary Information or Company Documents and Materials, in performing the Services, to the Company.

 

(c)           Confidentiality.  At all times, except as may be necessary in performing the Services, both during the term of Merlin’s engagement by the Company and after Merlin’s termination, Merlin shall not use or disclose any Proprietary Information or anything relating to it without the prior written consent of the Company.

 

(d)           Compelled Disclosure.  In the event that Merlin is requested in any legal proceeding to disclose any Proprietary Information, Merlin shall give the Company prompt notice of such request so that the Company may seek an appropriate protective order.  If, in the

 

 

absence of a protective order, if Merlin is compelled by any Court of competent jurisdiction to disclose such Proprietary Information, Merlin may disclose such information without liability.

 

(e)           Records.  Merlin agrees to make and maintain adequate and current written records, of all Inventions, trade secrets and works of authorship assigned or to be assigned to the Company pursuant to this Agreement.

 

(f)            Handling of the Company Documents and Materials.  Except as may be necessary in performing the Services, Merlin shall not remove any Company Documents and Materials from the business premises of the Company or deliver any Company Documents and Materials to any person or entity outside the Company.  Merlin immediately upon termination of this Agreement, or if so requested by the Company, will return all Company Documents and Materials, apparatus, equipment and other physical property, excepting that Merlin may maintain one copy of such material for its business records subject to the non disclosure terms of this Agreement.

 

7.             INVENTIONS.

 

(a)           Disclosure.  Merlin shall promptly disclose in writing to Company all discoveries and new developments made during the term of Merlin’s engagement with the Company relating to the Services.  Merlin will disclose to Company any discoveries, or inventions made, discovered, conceived, reduced to practice or developed by Merlin, either alone or jointly with others, within six (6) months after the termination of this Agreement which result, in whole or in part, relating to the Services.  Such disclosures shall be received by the Company in confidence, to the extent such inventions are not assigned to the Company pursuant to subsection (b) below, and do not extend the assignments set forth below.

 

(b)           Assignment of Inventions to the Company.  All Inventions which Merlin makes, discovers, conceives, reduces to practice or develops (in whole or in part, either alone or jointly with others) in performing the Services shall be the sole property of the Company, to the maximum extent permitted by law and Merlin will assign to the Company all of its rights, title and interest to such Inventions.  Unless specifically included on Exhibit “A” as part of the Services to be performed, such assignment does not apply to any software programs or subroutines, source or object code, algorithms, improvements, works of authorship, technology, designs, formulas, ideas, processes, techniques, methodology, know-how and data, whether or not patentable or copyrightable, made, discovered, conceived, reduced to practice, or developed by Merlin, which are not developed or discovered by Merlin in designing or developing the Product.

 

(c)           Works Made for Hire.  Merlin acknowledges that the Company shall be the sole owner of all patents, patent rights, copyrights, trade secret rights, trademark rights and all other intellectual property rights in connection with the Inventions.  Merlin further acknowledges that such Inventions, including, without limitation, any computer programs, programming documentation and other works of authorship, are “works made for hire” for purposes of the Company’s rights under patent or copyright laws.  Merlin hereby assigns to the Company any and all rights, title and interest Merlin may have or acquire in such Inventions.  If in the course of Merlin’s engagement with the Company, Merlin incorporates into a Company

 

 

product, process or machine a prior invention or improvement not related to the Services that is owned by Merlin or in which Merlin has an interest, the Company is granted and shall have a non-exclusive, royalty-free, irrevocable, perpetual, sublicensable, worldwide license to make, have made, modify, use, market, sell and distribute such prior invention as part of or in connection with such Product.  Company will be responsible for obtaining all intellectual property protection, including all licenses, trademarks and copyrights.

 

(d)           Cooperation.  Merlin will perform, all acts necessary to permit and assist Company, at Company’s expense, in further evidencing and perfecting the assignments made to the Company under this Agreement and in obtaining, maintaining, defending and enforcing patents, patent rights, copyrights, trademark rights, trade secret rights or any other rights in connection with such Inventions and improvements related to the Services in any and all countries.  Such acts may include, without limitation, execution of documents and assistance or cooperation in legal proceedings.

 

8.             NON-COMPETITION.  During the term of this Agreement and for three years thereafter, Merlin shall not, with or without consideration, develop a product similar to the Product, for any person, business, firm or corporation. Merlin is not precluded from providing services to any person, business, firm or corporation engaged in any business competitive with the business conducted by the Company, so long as the services being provided do not include developing a similar product to the Product developed pursuant to this Agreement.

 

9.             ARRANGEMENT NON-EXCLUSIVE.  Except for the restrictions set forth above in this Agreement, this is not an exclusive agreement and Merlin is not restricted from providing similar services for any other existing or potential customer.

 

10.          INDEPENDENT CONTRACTOR.  The Parties acknowledge that Merlin shall, at all times, be acting and performing as an independent contractor.  Nothing in this Agreement is intended to create an employer/employee relationship or a joint venture relationship between the Parties.  Merlin is not eligible for any compensation, fringe benefits, pension, workers’ compensation, sickness or health insurance benefits, or other similar benefits accorded employees of the Company.  Company will not withhold any sums for income tax, unemployment insurance, social security, or any other withholding pursuant to any law or requirement of any governmental body on behalf of Merlin.  Merlin acknowledges that the Company has no obligation under local, state, or federal laws regarding Merlin and that the total commitment and liability of the Company in regard to any arrangement with, or work performed by, Merlin hereunder is to compensate Merlin as set forth in Section 4 hereof.

 

11.          MAINTENANCE OF RECORDS.  During the term of this Agreement and for five (5) years after the completion of the Services, Merlin shall make available, upon written request of the Company or its designee, any records maintained by Merlin regarding any of the Services performed hereunder by Merlin.

 

12.          NO AUTHORITY TO BIND.  Merlin shall have no power or authority to execute any agreements or contracts for or on behalf of the Company or to bind the Company in any other manner.

 

 

13.          LIABILITY LIMITATION.  Without limiting any other provisions hereunder, under no circumstances shall Merlin be liable to Company with respect to this Agreement for any consequential, indirect, exemplary, special or incidental damages of any kind regardless of the form of action, whether in contract, tort (including negligence), strict liability, or otherwise.  Merlin’s liability for any other cause of action will be limited to thirty percent (30%) of the compensation already paid to Merlin, even if Merlin has been advised of the possibility of such damages.

 

14.          NO ASSIGNMENT.  This Agreement may not be assigned by either Party without the written consent of the other party.

 

15.          SEVERABILITY.  If one or more provisions of this Agreement are held to be unenforceable by a Court of competent jurisdiction, then such provisions shall be excluded from this Agreement and the balance of the Agreement shall remain in full force and effect.

 

16.          BINDING EFFECT.  This Agreement shall inure to the benefit of and are binding upon, the Parties and their respective successors and permitted assigns.

 

17.          AMENDMENT.  This Agreement may only be amended in writing signed by both Parties.

 

18.          NOTICE.  All notices and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on date of delivery, if delivered personally, or on the date delivered if by overnight mail, or certified mail, postage pre-paid, if sent pre-paid and addressed as follows:

 

	
If   to Merlin:
    	
Merlin   CSI, LLC
    
	
 
    	
Attn:   Tom Voorhees, President and CEO
    
	
 
    	
13135   Danielson Street, #212
    
	
 
    	
Poway,   CA 92064
    
	
 
    	
 
    
	
If   to Company:
    	
OncoSec   Medical Incorporated
    
	
 
    	
Legal   Department
    
	
 
    	
Attn:   Sheela Mohan-Peterson
    
	
 
    	
9810   Summers Ridge Rd., Ste. 110
    
	
 
    	
San   Diego, CA 92121
    

 

A Party may change its address by providing notice to the other Party.

 

19.          ARBITRATION.

 

Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, including, but not limited to, the validity and enforceability of this Agreement under all Federal and State Laws or otherwise, will be settled by binding arbitration in accordance with the appropriate Rules of the Judicial Arbitration and Mediation Services (JAMS), and judgment upon the award rendered may be entered in any court having jurisdiction thereof.  Any such

 

 

arbitration award will be binding on the Parties. Such arbitration will be conducted before JAMS in Ontario, California.

 

The Parties may seek or obtain any provisional remedy, including, but not limited to, prejudgment attachment and injunctive relief, in a court of competent jurisdiction without waiving the right to arbitration.

 

Within ten (10) days of the service of a claim or demand for arbitration by a Party upon the other Party, the Parties will select from JAMS a mutual arbitrator to hear this matter.  If the Parties are unable to select a mutually acceptable arbitrator, then each Party will designate in writing and appoint one arbitrator from JAMS and these two arbitrators will then select a third arbitrator from JAMS, who will then serve as the sole arbitrator in this matter.  Each Party will pay their or its own party-appointed arbitrator fees and expenses in connection with the arbitration, subject to recovery by the prevailing Party, as set forth in Paragraph 22 below.  The Parties acknowledge that they are willing to have the third arbitrator paid at his or her normal hourly rate, which cost is to be split between the Parties.

 

The arbitrators will be required to decide all matters in accordance with the applicable law and in accordance with the provisions of this Agreement.

 

20.          ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement between the Parties and supersedes any and all other written or oral agreements between the Parties with respect to the subject matter of this Agreement.

 

21.          GOVERNING LAW AND CONSENT TO JURISDICTION.  This Agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to its principles of conflicts of laws.  The Parties hereto irrevocably submit to the exclusive jurisdiction of the state and federal courts sitting in the County of San Diego, State of California for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby. The above provision in no ways affects the provisions of Section 19 pertaining to Arbitration.

 

22.          ATTORNEY’S FEES.  If any action is necessary to enforce any provision of this Agreement, the prevailing party shall be entitled to recover all of its costs, including all attorney fees and court costs.

 

23.          COUNTERPARTS.  This Agreement may be executed in one or more counterparts with either an original or facsimile or pdf signature considered to be an original, and all of which together shall constitute one and the same instrument.

 

 

IN WITNESS WHEREOF, the Company and Merlin have made this Agreement effective as of the Effective Date.

 

	
MERLIN   CSI, LLC
    	
 
    	
ONCOSEC   MEDICAL INCORPORATED
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Tom Voorhees
    	
 
    	
By:
    	
/s/ Punit Dhillon
    
	
Name:
    	
Tom Voorhees
    	
 
    	
Name:
    	
Punit Dhillon
    
	
Title:
    	
CEO
    	
 
    	
Title:
    	
President & CEO
    

 

 

EXHIBIT A

 

A.    SCOPE OF WORK

 

1.     Research & Product Development Project 1

2.     Research & Product Development Project 2

 

B.    SERVICES TO BE PROVIDED

 

1.     Research, Development, Testing and Regulatory Filing of Project 1

2.     Research, Development, Testing and Regulatory Filing of Project 2

 

C.    PRODUCT DESCRIPTION

 

1.     Project 1

2.     Project 2

 

D.    PROJECT DELIVERABLES

 

1.     All Product Development Phase Reviews (through regulatory filing) for both Products

 

 

EXHIBIT B – HOURLY

 

PRICING AND PAYMENT TERMS

 

·     Merlin Labor Estimate $1,525,000

 

PURCHASE ORDER

 

Company will place a purchase order with Merlin in the amount of One Million, Five Hundred and Twenty-Five Thousand Dollars ($1,525,000).

 

PAYMENT TERMS

 

This is a time and materials contract.  Monthly invoices will be provided for service provided. Payment is due within thirty (30) calendar days of receipt of such invoice.

 

LATE PAYMENT PENALTY

 

A late payment penalty will be imposed following any payments that are deemed late as per payment terms section above.  A late payment penalty of two percent (2%) of the invoiced amount will be immediately due.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00253-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00253-of-00352.parquet"}]]