Document:

Exhibit 10.14

 

CLINICAL MANUFACTURING AND SUPPLY AGREEMENT

 

THIS CLINICAL MANUFACTURING
AND SUPPLY AGREEMENT (this “Agreement”) is made effective as of the 26” day of August, 2015 (“Effective
Date”) by and between BAXTER ONCOLOGY GmbH, with an address at Kantstrasse 2, 33790 Halle/Westfalen, Germany,
as such term is defined herein (“Baxter”), and ACCELERATED PHARMA, INC., a Delaware corporation having
offices at 15W155 81’ Street, Burr Ridge, Illinois 60527 (“Client”).

 

RECITALS

 

1.          Client
is engaged in the development, bulk production, formulation, sale and distribution of pharmaceutical products;

 

2.          Baxter
is, among other pharmaceutical activities, engaged in the formulation, filling, inspection, labeling and packaging of pharmaceutical
products for various pharmaceutical companies;

 

3.          Client
and Baxter desire to have Baxter formulate, fill, inspect, package, label, and test Product for Client for clinical supply.

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein, Client and Baxter, hereinafter referred to as “Party”
or “Parties”, agree as follows:

 

Article 1, DEFINITIONS

 

1.1           As
used in this Agreement, the following words and phrases shall have the following meanings:

 

“Active Pharmaceutical
Ingredient” or “API” shall mean Picoplatin.

 

“Affiliate”
shall mean any corporation or other business entity directly or indirectly controlled by, controlling, or under common control
with a Party or its parent corporation. The term “control” (including, with correlative meaning, the terms “controlled
by,” “controlling” and “under common control with”) means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of such Party, whether through the ownership of voting
securities, by contract or otherwise, or such other relationship as, in fact, constitutes actual control.

 

“Applicable Law”
means all international, national, federal, state, provincial and local laws, statutes, codes, rules, regulations, ordinances,
orders, decrees or other pronouncements of any governmental, administrative or judicial authority having the effect of law that
govern the Parties’ respective obligations hereunder, including cGMP.

 

“Batch”
shall mean a specific quantity of Product comprising a number of Units mutually agreed upon between Client and Baxter, and that
(a) is intended to have uniform character and quality within specified limits, and (b) is Produced according to a single manufacturing
order during the same cycle of manufacture.

 

     

     

    

 

“Baxter SOPs”
shall mean Baxter’s standard operating procedures applicable to the Production of Product.

 

“Components”
shall mean the primary packaging components (e.g. vial, stopper and seal) used by Baxter in the Production of Product under this
Agreement. Components are listed in the Product Master Plan.

 

“Confidential
Information” shall be defined as set forth in Article 18.

 

“Current Good
Manufacturing Practices” or “cGMP” shall mean the following to the extent having jurisdiction over
the Production of Product: (a) the good manufacturing practices required by the FDA and set forth in the FD&C Act or FDA regulations
(including without limitation 21 CFR 210 and 211); (b) the practices and principles promulgated by the EMA (European Medicines
Agency), including EC Directive 20031941EC; and (c) the PICS guidelines to good manufacturing practices in effect at any time during
the Term of this Agreement.

 

“Delivery Date”
shall mean the confirmed date in a Firm Purchase Order or an alternative date agreed upon by Client and Baxter, designating the
date that Product is made available by Baxter for pick-up at Baxter’s facility to a common carrier designated by Client.

 

“Effective Date”
shall mean the date set forth above.

 

“FDA”
shall mean the United States Food and Drug Administration or any successor entity thereto.

 

“FD&C Act”
shall mean the United States Federal Food, Drug and Cosmetic Act, as may be amended from time to time.

 

“Intellectual
Property” shall mean ideas, concepts, discoveries, inventions, developments, know-how, trade secrets, techniques, methodologies,
modifications, innovations, improvements, writings, documentation, data and rights (whether or not protectable under state, federal
or foreign patent, trademark, copyright or similar laws) or the like, whether or not written or otherwise fixed in any form or
medium, regardless of the media on which contained and whether or not patentable or copyrightable.

 

“Inventions”
shall mean any inventions, discoveries, innovations, methods, improvements, processes, techniques or other valuable developments,
whether patentable or copyrightable or not, relating to Product, the API or their manufacture, arising out of the performance of
services under this Agreement by Baxter and/or any use of either Client Intellectual Property and/or the API. For the avoidance
of doubt, Inventions include Process Inventions, as defined below.

 

“Master Batch
Record” or “MBR” shall mean, with respect to each Presentation of Product to be Produced hereunder,
a formal set of instructions for the Production of each Presentation of such Product. The MBR shall be developed and maintained
in Baxter’s standard format by Baxter, using Client’s master formulation and technical support.

 

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“Materials”
as used in this Agreement shall collectively mean all materials required for Production of Product, including the API, Components,
Secondary Packaging Materials and Raw Materials.

 

“Materials Specifications”
shall mean the specifications and testing to be performed on the Materials, as specified in the Product Master Plan.

 

“Presentation”
shall mean the specific formulation and Components for the Product as specified in the applicable Master Batch Record.

 

“Process Inventions”
shall mean any Inventions that are new manufacturing technologies, methods, processes or techniques, or are improvements to existing
manufacturing technologies, methods, processes or techniques, and that are generally applicable to pharmaceutical products. For
purposes of clarity, Process Inventions shall not include such Inventions that (i) are only applicable to Product and/or the API
and/or (ii) require the use of Product and/or the API.

 

“Produce”
or “Production” shall mean the formulation, filling, packaging, inspecting, labeling, and testing of Product
by Baxter as specified in the applicable Master Batch Record.

 

“Product”
shall mean product as specified in the Product Master Plan for use in clinical trials.

 

“Product Master
Plan” shall mean an addendum to this Agreement for Product Produced hereunder, which may include, without limitation,
the Product, Product Specifications, Materials, Materials Specifications, Regulatory Authorities, the countries where such Product
will be used in clinical trials, Presentations, and pricing for such Product Produced under this Agreement.

 

“Product Requirements”
shall mean cGMPs, the Product Specifications and the Master Batch Record.

 

“Product Specifications”
shall mean, with respect to Product, the specifications and testing to be performed for the Product and/or the stability program
that are set forth in the Baxter SOPs and the Master Batch Records. The Product Specifications include all tests that Baxter is
required to conduct or cause to be conducted as specified in the Product Master Plan. The Product Specifications may be modified
from time to time only by a written agreement of Client and Baxter.

 

“Production Price”
shall be defined in Section 5.1.

 

“Purchase Order”
shall mean written orders from Client to Baxter which shall specify (a) the quantity of Product ordered, (b) shipping instructions
(e.g. choice of container, temperature requirements), (c) requested delivery dates, and (d) delivery destinations.

 

“Quality Agreement”
shall mean an addendum to this Agreement under which the Parties allocate the pharmaceutical responsibilities, as further set forth
in Section 2.2.

 

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“Raw Materials”
shall mean all excipients, inactive ingredients and other substances used by Baxter in the Production of Product under this Agreement
with the exception of API, Components and Secondary Packaging Materials. All Raw Materials are listed in the Product Master Plan.

 

“Regulatory Approval”
shall mean all authorizations by the appropriate Regulatory Authority necessary for use in clinical trials in a jurisdiction, including
without limitation, approval of labeling and Production.

 

“Regulatory Authority”
means those agencies or authorities responsible for regulation of the Product in the country where the Product is used in clinical
trials, provided such Regulatory Authority is expressly agreed to by the Parties in the Product Master Plan. Baxter will have no
obligation to Produce in compliance with the requirements of a Regulatory Authority not specified in the Product Master Plan.

 

“Released Executed
Batch Record” shall mean the completed batch record and associated deviation reports, investigation reports, and Certificates
of Analysis created for each Batch of Product as specified in the Product Master Plan.

 

“Reservation
Fees” shall be the fees set forth in the Product Master Plan which are payable by Client for modification or cancellation
of a Firm Purchase Order.

 

“Rolling Forecast”
shall be defined in Section 4.2.

 

“Secondary Packaging
Materials” as used in this Agreement shall mean any material employed in the secondary packaging of the Product (e.g.
leaflet, label and folded box) but excluding any outer packaging used for transportation or shipment. All Secondary Packaging Materials
are listed in the Product Master Plan.

 

“Unit”
shall mean an individually packaged dose of Product, including by way of example only, a vial, as specified in the Product Master
Plan.

 

Article 2. PRODUCT MASTER PLAN AND QUALITY
AGREEMENT

 

2.1           Product
Master Plan. For Product to be Produced hereunder, the Parties shall agree in writing upon a Product Master Plan. Baxter will
not be required to schedule or commence Production until a Product Master Plan for such Product has been approved in writing by
both Baxter and Client.

 

2.2           Quality
Agreement. The Parties will agree in writing on a Quality Agreement. Baxter will not be required to schedule any Production
until a Quality Agreement has been duly signed by both Baxter and Client.

 

2.3           Amendment.
This Agreement and each Quality Agreement and Product Master Plan may be amended from time to time, only upon mutual written agreement
of Client and Baxter. Upon execution of any Quality Agreement or Product Master Plan or any amendment thereof, such Product Master
Plan and Quality Agreement shall be deemed to be incorporated herein by reference and made a part of this Agreement. In the event
of a conflict between this Agreement and the Quality Agreement, the Quality Agreement will prevail for matters of quality and this
Agreement will prevail for all business, legal, and financial issues. In the event of a conflict between this Agreement and any
Product Master Plan, this Agreement will prevail.

  

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2.4         Effect
of Failure to Execute Plans. Failure to execute a Product Master Plan with respect to the Product will not relieve either Party
of any obligation accruing with respect to such Product prior to such failure to execute provided the Parties have agreed in writing
to such services. Client agrees to reimburse Baxter for all non-cancelable costs incurred by Baxter for work performed and Materials
ordered with respect to such Product.

 

Article 3, PURCHASE AND SUPPLY OF MATERIALS

 

3.1         Client
Supplied Materials. Client, at its expense (including without limitation shipping costs), shall supply to Baxter, in a timely
manner, all Client supplied Materials. Baxter’s obligations with respect to evaluation and testing of incoming Client supplied
Materials shall be set forth in the Quality Agreement

 

3.2         Material
Delivery Delays. Timely delivery of Client supplied Materials shall mean that the respective Materials and the required cGMP-related
documents reach Baxter at least three (3) months prior to the Delivery Date of Product as set forth in the Firm Purchase Order.
A delay in delivery of the Materials by the vendor shall not be considered to be a delay by Baxter. Notwithstanding anything in
this Agreement to the contrary, in the event that Baxter receives the Client supplied Materials and associated cGMP documents for
the Production of Product less than three (3) months prior to the Delivery Date of Product as set forth in the Firm Purchase Order,
Baxter may charge Client the Reservation Fees as set forth in the Product Master Plan.

 

3.3         Baxter
Supplied Materials. Unless otherwise specified in a Product Master Plan, Baxter will purchase the Baxter supplied Materials
in sufficient quantities to meet the greater of (a) Client’s forecasted demand for Product as set forth in the first three
(3) months of Client’s Rolling Forecast, or (b) the minimum order quantity requirements as defined by the third party supplier.

 

3.3.1           Expired
Baxter Supplied Materials. If any quantities of a Baxter supplied Material ordered in accordance with Section 3.3 expire prior
to Baxter’s use of such Material in Production of Product, Client agrees to reimburse Baxter for the costs of the expired
Baxter supplied Material and reasonable disposal-related costs within thirty (30) days from the date of Baxter’s invoice
evidencing the cost of the expired Material and disposal-related costs.

 

3.4         Importer
of Record. In the event any material or equipment to be supplied by Client, including without limitation Client supplied Materials,
is imported into Germany for delivery to Baxter (“Imported Goods”), such Imported Goods shall be imported DDP
Halle/Westfalen, Germany (Incoterms 2010). Client shall be the “Importer of Record” of such Imported Goods.
As the Importer of Record, Client shall be responsible for all aspects of the Imported Goods including, without limitation (a)
customs and other regulatory clearance of Imported Goods, (b) payment of all tariffs, duties, customs, fees, expenses and charges
payable in connection with the importation and delivery of the Imported Goods, and (c) keeping all records, documents, correspondence
and tracking information required by Applicable Law arising out of or in connection with the importation or delivery of
the Imported Goods.

 

 

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Article 4. FORECASTS, ORDERS, AND CAPACITY

 

4.1         Agreement
to Purchase and Supply. Pursuant to the terms and conditions of this Agreement, Client will purchase the Product from
Baxter, and Baxter will Produce the Product for Client in accordance with Article 4.

 

4.2         Forecasts.
Commencing on the Effective Date of this Agreement and prior to the tenth (10’h) calendar day of each month
thereafter, Client will provide to Baxter in writing a twelve (12) month rolling forecast, broken down by month, of Client’s
estimated requirements for the Product (the “Rolling Forecast”). The first three (3) months of each Rolling
Forecast shall be binding for Client (the “Binding Forecast”).

 

4.3         Purchase
Orders. Client shall submit Purchase Orders to Baxter covering Client’s purchases of Product pursuant to this
Agreement and specifying project code, Units and delivery date. For the avoidance of doubt, supply of Product under this Agreement
shall not be subject to the terms and conditions contained on any Purchase Order and/or acceptance thereof except insofar as any
such Purchase Order and/or acceptance establishes the quantity and requested delivery dates for such Product. Client shall not,
without the written consent of Baxter, designate a delivery date in a Purchase Order earlier than three (3) months from the date
Client submits the Purchase Order.

 

4.3.1           Provided
Client submits its Purchase Order in accordance with Section 4.2, within ten (10) business days from receipt of a Purchase Order,
Baxter will review the requested quantities and delivery date and Baxter will: (i) accept the Purchase Order in its entirety, or
(ii) accept the requested quantities of Product and provide an alternate delivery date, which shall be no more than thirty (30)
days from the requested delivery date. Upon Baxter’s acceptance of a Purchase Order as set forth in (i) and (ii) above, Baxter
shall provide a confirmation of the Purchase Order setting forth the Delivery Date that Baxter will meet and such Purchase Order
shall become a “Firm Purchase Order”. Client shall order full Batches of Product on a single Purchase Order

 

4.3.2           Client
Modification of a Delivery Date in a Firm Purchase Order or Cancellation of a Firm Purchase Order. In the event that Client
(i) modifies the Delivery Date which impacts the filling date of Product or (ii) cancels a Firm Purchase Order, Client shall pay,
as liquidated damages and not as a penalty, the Reservation Fees set forth in the Product Master Plan.

 

Article 5, PRICE

 

5.1         Product
Production Price. The price to be paid by Client for the Production of Product (the “Production Price”)
shall be set forth in the Product Master Plan.

 

 

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Article 6, SHIPMENT AND INVOICING

 

6.1         Delivery
Terms. Product shall be delivered to Client EXW (Incoterms 2010) at Baxter’s facility in Halle/Westfalen, Germany.
freight collect by a common carrier designated by Client, provided, however, Baxter shall be responsible for the loading of the
Product on departure and shall bear all costs of such loading. Client shall procure, at its cost, insurance covering damage or
loss to the Product during shipping.

 

6.2         Storage.

 

6.2.1           Product
Storage. Baxter will store Product free of charge for up to thirty (30) calendar days after Baxter’s release (the “Storage
Period”). After the Storage Period, if Baxter agrees to store Product longer, then Baxter may charge the storage fees as
set forth in the Product Master Plan.

 

6.2.2           Third
Party Storage. Baxter shall be permitted to store Materials (excluding API) in third party storage facilities qualified by
Baxter; such qualified facilities shall be at the discretion of Baxter. Notwithstanding the foregoing, in the event of an emergent
situation, Baxter shall be permitted to store API and Product in a third party storage facility qualified by Baxter. If feasible,
Baxter will notify and consult with Client prior to storing API and Product in a third party storage facility.

 

6.3         Subsequent
Export. Client agrees and represents that Client is the owner of the goods that are consigned to Baxter for contract manufacturing
services and warrants that Client is responsible for any subsequent export or re-export and will comply with all Applicable Law
relating to the export or re-export, including the prohibition against unlawful transshipments. Further, where such goods are destined
for export or re-export, Client agrees and accepts that it shall act as the exporter of record, and warrants that as the exporter
of record, it will duly authorize and retain an agent who will act on its behalf, assuming all attendant responsibilities associated
with the export or re-export, including obtaining any necessary export licenses. Client’s responsibilities as the exporter
of record, include, but are not limited to, cooperating with its agent in providing a detailed description and accurate valuation
and classification of the goods on the export commercial invoice, bills of lading, and all other required documentation. Client
further agrees to defend Baxter against any action, civil or criminal, private or public, in connection with the subsequent export
or re-export by Client of the goods.

 

6.4         Foreign
Corrupt Practices Act. The Parties confirm that any compensation payable hereunder does not constitute remuneration or other
means to attempt to corruptly influence a Government Official (as such term is defined in the U.S. Foreign Corrupt Practices Act
of 1977 (the “FCPA”)) to act in his official capacity to assist either Baxter or Client in obtaining or retaining
business. In connection with each Party’s obligations under this Agreement, and to the extent the FCPA applies to either
Party’s obligations under this Agreement, neither Baxter nor Client has made or offered, or hereafter will make or offer,
directly or indirectly, any payment or inducement to a Government Official with the intent to corruptly influence a Government
Official to act in his official capacity to assist either Baxter or Client in obtaining or retaining business. In connection with
this Agreement, neither Party will give to or accept from any other person anything of value in order to obtain an improper business
advantage. Any breach of the foregoing provision will be deemed a material breach of this Agreement that is not capable of relief
and will entitle the nonbreaching Party to terminate this Agreement with immediate effect.

 

 

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6.5        Payment
Terms.

 

6.5.1           For
any Materials and equipment to be ordered by Baxter specifically for Client under this Agreement, Client will issue Purchase Orders
for such Materials and equipment pursuant to this Agreement and Client will pre-pay Baxter for one hundred percent (100%) of the
cost of the ordered Materials and equipment (plus any associated services fees. see Section 9.7) when Baxter confirms the Purchase
Order. Baxter will not order any Materials and equipment contained in any Purchase Order until pre-paid in full by Client.

 

6.5.2           For
all other services performed by Baxter hereunder, including without limitation Production of Product, Client will issue Purchase
Orders for such services pursuant to this Agreement, and Client will (i) pre-pay Baxter for fifty percent (50%) of the total amounts
contained in the Purchase Order when Baxter confirms such Purchase Order, and (ii) pay Baxter the remaining fifty percent (50%)
of the amounts contained in the Purchase Order upon completion of the services. The amounts contained in Client’s Purchase
Orders for services will coincide with those amounts for services contained in Baxter’s proposal dated July 22, 2015, as
adjusted pursuant to this Agreement. Baxter will issue an invoice upon its completion of the services and Client will pay the amount
of such invoice within thirty (30) days of receipt thereof. Baxter will not release any Product to Client until paid in full by
Client.

 

6.5.3           Client
shall pay for stability testing as invoiced by Baxter within thirty (30) days of the invoice date.

 

6.5.4           All
payments shall be made by wire transfer to a bank account specified by Baxter. All payments shall be made by Client in accordance
with the terms noted above. All prices quoted by Baxter, e.g. in the Product Master Plan, are ex value added taxes and in Euros.
Any payment due under this Agreement not received within the times noted above shall incur finance charges at the lesser of (a)
the maximum rate permitted by law, or (b) one and one-half percent (1.5%) per month on the outstanding balance.

 

6.6         Default
in Payment Obligations. In addition to all other remedies available to Baxter in the event of a Client default, if Client does
not make payments as required hereunder, Baxter may decline acceptance of all further Purchase Orders, suspend Production of Firm
Purchase Orders and deliveries of Product until Client provides assurance of performance reasonably satisfactory to Baxter.

 

Article 7, ACCEPTANCE OF PRODUCT

 

7.1         Product
Conformity. Within twenty (20) calendar days from the date of shipment of samples of Product or the Released Executed Batch
Record, whichever is later, Client will determine whether the Batch of Product was Produced according to the Product Requirements
and reject such Batch if such Batch was not Produced in accordance with the Product Requirements (“Non-Conforming”)
or accept such Batch if such Batch was Produced in accordance with the Product Requirements. If Client rejects a Batch as Non-Conforming.
it shall notify Baxter as set forth in Section 7.1.2. Notwithstanding the foregoing, Client shall have the right to revoke acceptance
if, within ninety (90) days of receipt of the Batch, Client discovers a defect not reasonably discoverable at time of Baxter’s
release of the Batch of Product.

 

 

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7.1.1           If
Client does not notify Baxter in writing within the applicable time periods that the Batch of Product is Non-Conforming, then such
Batch will be deemed to have been accepted and Client will have waived its right to revoke acceptance.

 

7.1.2           If
Baxter released a Batch of Product and Client rejects such Batch as Non-Conforming, it will provide to Baxter a detailed explanation
of the non-conformity within the applicable time period. Such notice of non-conformity shall be confirmed in writing by Client to
Baxter in accordance with Article 20. Upon receipt of such notice, Baxter will investigate such alleged non-conformity and, (a)
if Baxter agrees such Batch is Non-Conforming, Baxter and Client will mutually determine an action plan within sixty (60) calendar
days after receipt of Client’s written notice of non-conformity, or such additional time as is reasonably required if such
investigation or plan requires data from sources other than Client or Baxter (the “Response Period”), or (b) if Baxter
disagrees that the Batch of Product is Non-Conforming, Baxter will so notify Client in writing within the Response Period.

 

7.1.3           If
the Parties dispute whether the Batch of Product is conforming or Non-Conforming, the Batch will be submitted to a mutually acceptable
laboratory or consultant for resolution, whose determination of conformity or non-conformity shall be binding upon the Parties.
For the avoidance of doubt, Baxter will not be required to change its quality disposition based on the determination of the third
party laboratory or consultant. Client cannot release a Batch of Product that Baxter has rejected. The costs of such laboratory
or consultant are to be borne by the Party whose determination was incorrect.

 

7.2         Remedies
for Non-Conforming Product. In the event Baxter agrees or a determination is made under Section 7.1.3 that a Batch of Product
is Non-Conforming solely as a result of Baxter’s negligence or willful misconduct, then Baxter will, at its option, (a) reimburse
Client for its actual cost of the API used in the Non-Conforming batch, which reimbursement will not exceed fifty percent (50%)
of the Production Price of the Non-Conforming batch, and either (b) if Client has paid for such Non-Conforming batch, either credit
the Production Price of the Non-Conforming batch or replace the Non-Conforming batch at Baxter’s expense, assuming sufficient
API will be provided by Client, at Client’s expense, and in due time to carry out the Production, or (c) if Client has not
paid for the Non-Conforming batch, Baxter will not invoice for the Non-Conforming batch.

 

Article 8, TERM AND TERMINATION

 

8.1         Term.
This Agreement shall commence on the Effective Date and shall continue for seven (7) years unless earlier terminated in accordance
with Sections 8.2 or 8.3 of this Agreement (the “Term”).

 

 

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8.2         Termination
for Material Breach. Either Party may terminate this Agreement upon the material breach of any provision of this Agreement
by the other Party if such breach is not cured by the breaching Party within thirty (30) calendar days for monetary defaults, and
sixty (60) calendar days for non-monetary defaults (or such additional time as is reasonably necessary to cure such non-monetary
default) after receipt by the breaching Party of written notice of such default.

 

8.3         Termination
for Financial Matters. Either Party may terminate this Agreement immediately by giving the other Party written notice thereof
in the event such other Party shall become insolvent or unable to pay its debts when due, or in the event that proceedings are
commenced against, or voluntarily by, such Party relating to its bankruptcy or insolvency.

 

8.4         Additional
Rights and Remedies. Subject to Section 13.1, termination under this Article 8 shall be in addition to the other rights and
remedies of the terminating Party as specified herein.

 

8.5         Non-cancelable
Costs and Expenses. In the event of the termination or expiration of this Agreement, except by Client as a result of a breach
by Baxter under Section 8.2, Client will (a) reimburse Baxter for all Materials and equipment ordered prior to termination and
not cancelable at no cost to Baxter, and (b) pay Baxter for any outstanding Firm Purchase Orders. In addition, in the event of
termination or expiration for any reason, Client will pay the prices described in Article 5 for (i) all work-in-process commenced
by Baxter and (ii) all finished Product Produced prior to expiration or termination. Baxter will ship such materials to Client
pursuant to Section 6.1 at Client’s cost and per Client’s instructions. Client will make payments for all expenses
described in this Section 8.5no later than thirty (30) calendar days from the invoice date.

 

8.6         Survival.
Termination, expiration, cancellation or abandonment of this Agreement through any means or for any reason shall be without prejudice
to the rights and remedies of either Party with respect to any antecedent breach of any of the provisions of this Agreement, subject
to Article 13. The provisions of Articles 8, 9.3, 12, 13, 14, 15, 16, 17 and 18 hereof shall survive expiration or termination
of this Agreement. Termination of this Agreement for any reason shall not relieve any Party of any obligations accruing prior to
such termination.

 

Article 9, PRODUCTION OF PRODUCT

 

9.1         Reprocessing
or Rework. If reprocessing or rework is allowed pursuant to Client’s regulatory submissions or approved by Client, it
shall be performed in accordance with the Quality Agreement and Client shall be responsible for and promptly reimburse Baxter for
all costs and expenses incurred in connection with such reprocessing or rework.

 

9.2         Audits.
Client shall have the right to audit Baxter’s facilities to determine compliance with Applicable Law. Such audits
shall be scheduled at mutually agreeable times upon reasonable advance written notice to Baxter. Audits shall be at Client’s
expense as detailed in the Product Master Plan, if it occurs more than one (1) time every other calendar year unless such additional
audits are “for cause” audits as set forth in the Quality Agreement. If Client requests additional audits which are
not “for cause” audits and Baxter agrees to such audits, Client will incur fees as set forth in the Product Master
Plan. Such fees shall be paid promptly upon completion of such audits. In connection with performing such audits, Client shall
comply with all reasonable rules and regulations promulgated by Baxter. All information disclosed or reviewed in such inspections
shall be deemed to be the property of Baxter and Baxter Confidential Information.

  

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9.3         Stability
Testing. At Client’s request and expense, Baxter shall perform all stability testing required to be performed on Product.
Such testing shall be performed in accordance with the procedures set out in the Product-specific Baxter SOPs for the stability
protocol and Product Master Plan.

 

9.4         Permits
and Licenses. Client will be responsible, at its expense, for obtaining, maintaining, updating and remaining in compliance
with all permits, licenses and other authorizations during the Term of this Agreement, which are necessary or required under federal,
state, and local laws, rules and regulations which are applicable to the use and sale of Product Produced by Baxter hereunder,
in addition to any permits, licenses and other authorizations that are specific to the Production of Product, if any. Baxter will
be responsible, at its expense, to obtain and maintain all generally required permits and licenses applicable to production of
pharmaceutical products generally which are required for Baxter to carry out its regulatory and Production obligations hereunder.
Baxter will have no obligation to obtain permits relating to the sale, marketing, distribution or use of API or Product or with
respect to the content of any Product labeling.

 

9.5         Regulatory
Requirements. Each Party promptly shall notify the other of new regulatory requirements of which it becomes aware which are
relevant to the Production of Product under this Agreement and which are required by an applicable Regulatory Authority or other
Applicable Law, and shall confer with each other with respect to the best means to comply with such requirements. Baxter shall
have no obligation to Produce Product in compliance with the requirements of a Regulatory Authority not explicitly specified in
the Product Master Plan. Client shall supply to Baxter a copy of its license submission prior to Baxter’s Production of Product.
Client will assume full responsibility for final release of each Batch of Product.

 

9.6         Changes
in Manufacturing.

 

9.6.1           Product-Specific
Changes. If facility, equipment, process or system changes are required of Baxter as a result of requirements set forth by
a Regulatory Authority, and such regulatory changes apply solely to the Production and supply of one or more Products, then Client
and Baxter will review such requirements and agree in writing to such regulatory changes, and Client shall bear one hundred percent
(100%) of the reasonable costs thereof.

 

9.6.2           General
Changes. If such regulatory changes apply generally to one or more Products as well as to other products produced by Baxter
for itself or for third parties, then Client and Baxter shall discuss such regulatory changes and the impact of such changes on
Product and the cost of Production, and the Parties shall mutually agree in writing on how to proceed.

  

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9.7         Purchase
of Specialized Equipment. If Baxter is required to obtain specialized equipment in order to Produce Product for Client (“Specialized
Equipment”). Baxter shall notify Client of the Specialized Equipment required and the estimated price associated with
the purchase and installation of such equipment. The price of such equipment shall be paid by Client, i.e., the actual purchase
price paid by Baxter for the Specialized Equipment, including shipping and insurance costs, in addition to a service fee of twenty-five
percent (25%) on the actual purchase price plus VAT. Baxter shall invoice Client for all approved costs associated with the Specialized
Equipment, and Client agrees to pay Baxter within thirty (30) days from the date of Baxter’s invoice. Client shall hold
title to the Specialized Equipment although Baxter shall hold a security interest in the Specialized Equipment until such equipment
is paid for in full by Client. Baxter shall have possession of the Specialized Equipment during the Term of this Agreement. Baxter
agrees not to use the Specialized Equipment for any other customers. Client shall assume all risk of loss of the Specialized Equipment,
unless such loss or damage to the Specialized Equipment is due to the negligence of Baxter.

 

9.7.1           Maintenance
and Repair of Specialized Equipment. Baxter shall maintain the Specialized Equipment in accordance with the maintenance plan
set forth in the Product Master Plan. Client shall assume responsibility for the costs and expenses relating to any maintenance
and repairs of the Specialized Equipment.

 

9.7.2           Changes
in Equipment or Process due to Changes in the Annual Volume of Product. If there are changes in the annual volume of Product
and such changes in volume require changes in equipment and/or process, the Parties will reach agreement on the scope of the changes
and associated costs prior to Baxter implementing such changes.

 

9.8         Ownership
of Equipment. Upon termination or expiration of this Agreement, Client agrees to reimburse Baxter for reasonable disposal and
decommissioning expenses for the Specialized Equipment. Upon the Client’s request, Baxter shall transfer possession of the
Specialized Equipment paid for by Client to Client at Client’s cost and expense, provided, however, that the Specialized
Equipment is mobile and not a permanent fixture in Baxter’s facility, i.e. linked to Baxter’s infrastructure (e.g.
Baxter’s VVFI loop), or (ii) upon the agreement of Baxter, Baxter will purchase such equipment by paying Client the then
current book value of such equipment. Depreciation of such equipment shall be calculated in accordance with applicable generally
accepted accounting principles.

 

Article 10, REGULATORY

 

10.1       Regulatory
Approvals. Client will maintain all necessary Regulatory Approvals of marketing licenses for Product Produced by Baxter hereunder.
Client will advise Baxter of document requirements in support of filings and similar applications required of foreign governments
and agencies including amendments, license applications, supplements and maintenance of such. As agreed upon by Client and Baxter
in a regulatory plan, Baxter will provide documents and assist Client in preparation of submissions to Regulatory Authorities designated
by Client in support of Client’s applications. All regulatory submission preparation and maintenance performed by Baxter
for Client shall be specified in the regulatory plan. Prior to submission to the Regulatory Authority, Client will provide Baxter
with a copy of the CMC section for review and comment. A final copy of the CMC section will be provided by Client to Baxter upon
submission to the Regulatory Authority. Upon Regulatory Approval, Client will notify Baxter within two (2) calendar days of such
approval and the anticipated date of Product launch to the market.

  

    	 	12	 

     

    

 

10.2       Regulatory
Authority Inspections. At Client’s request, Baxter will authorize Regulatory Authorities to review related applications
on Client’s behalf as set forth in the Quality Agreement. Client shall bear the costs of Regulatory Authority Inspections
as set forth in the Product Master Plan.

 

Article 11, TRADEMARKS

 

11.1       Client
grants to Baxter a non-exclusive, royalty-free license to use trademarks of Client for the sole purpose of allowing Baxter to fulfill
its responsibilities under this Agreement. Such license shall not be transferable in whole or in part.

 

11.2       Client
shall be solely responsible for selecting, registering and enforcing trademarks of Client used to identify the Product and, except
as set forth in Section 11.1, shall have sole and exclusive rights in such trademarks of Client.

 

Article 12, REPRESENTATIONS AND WARRANTIES

 

12.1       Mutual
Representations. Each Party hereby represents and warrants to the other Party that (a) the person executing this Agreement
is authorized to execute this Agreement; (b) this Agreement is legal and valid and the obligations binding upon such Party are
enforceable by their terms; and (c) the execution, delivery and performance of this Agreement does not conflict with any agreement,
instrument or understanding, oral or written, to which such Party may be bound, nor violate any law or regulation of any court,
governmental body or administrative or other agency having jurisdiction over it.

 

12.2       Baxter
Warranty. Baxter warrants that Product shall be Produced in accordance with cGMPs.

 

12.3       Disclaimer
of Warranties. Except for those warranties set forth in Sections 12.1 and 12.2 of this Agreement, Baxter makes no warranties,
written, oral, express or implied, with respect to Product or the Production of Product. ALL OTHER WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT
HEREBY ARE DISCLAIMED BY BAXTER. NO WARRANTIES OF BAXTER MAY BE CHANGED EXCEPT IN WRITING AND SIGNED BY A DULY AUTHORIZED REPRESENTATIVE
OF BAXTER.

 

12.4       Client
Warranties. Client warrants that (a) it has the right to give Baxter any information and materials provided by Client hereunder,
and that Baxter has the right to use such information and materials for the Production of Product, and (b) Client has no knowledge
of any (i) patents or other intellectual property rights that would be infringed by Baxter’s Production of Product under
this Agreement, or (ii) proprietary rights of third parties which would be violated by Baxter’s performance hereunder. Client
warrants that the API provided to Baxter hereunder will (1) conform to the API specifications and (2) not be adulterated or misbranded
within the meaning of the FD&C Act. Client will use and promote the Product in accordance with its regulatory filings and approvals.

  

    	 	13	 

     

    

 

Article 13, EXCLUSIVE REMEDIES, LIMITATION
OF LIABILITY AND RISK OF LOSS

 

13.1       Exclusive
Remedies. Client’s right to recover damages, losses or expenses from Baxter, and Baxter’s liability under this
Agreement, is limited to the amounts and remedies set forth in the applicable sections of this Agreement. All claims by Client
under this Agreement for Non-Conforming Product shall be brought in the time period set forth in Section 7.1. Except for third
party indemnity claims, all other claims shall be brought no later than two (2) years after the occurrence of the event giving
rise to such claim; otherwise, such claim shall be deemed waived.

 

13.2     Limitation
of Liability. Except to the extent recoverable under Section 14.2 or except as specifically set forth in this Agreement, Baxter
shall not be liable under this Agreement for damages that are or include lost revenues or lost profits, or for any other damages
including special, punitive, direct, incidental, consequential or other damages including but not limited to loss, damage or destruction
of the Client supplied Materials, the cost of cover or recall costs, whether such claims are founded in tort or contract, and even
if Client asserts or establishes a failure of the essential purpose of any limited remedy provided in this Agreement. To the greatest
extent permitted under Applicable Law, under no circumstances shall Baxter’s aggregate liability under this Agreement, including
but not limited to third party claims, exceed the aggregate amount paid to Baxter by Client for such Product in the first calendar
year of this Agreement (the “Monetary Cap”).

 

13.3       Risk
of Loss. All Baxter supplied equipment and Baxter supplied Materials used by Baxter in the Production of Product (collectively,
the “Baxter Property”) shall at all times remain the property of Baxter and Baxter assumes risk of loss for
the Baxter Property until delivery of Product to a common carrier as specified under Section 6.1. Client assumes all risk of loss
for Client supplied Materials, equipment owned by Client and all Product (collectively, the “Client Property”).
Baxter will have no liability for, and Client releases all claims against Baxter arising from, any damage or loss to Client Property
stored in a third party facility.

 

Article 14, INDEMNIFICATION

 

14.1       Client
Indemnification. Client shall indemnify, defend and hold harmless Baxter and its Affiliates and any of their respective directors,
officers, governors, members, employees, subcontractors and agents (collectively, the “Indemnified Parties”)
from and against any and all liabilities, obligations, penalties, claims, judgments, demands, actions, disbursements of any kind
and nature, suits, losses, damages, costs and expenses (including, without limitation, reasonable attorney’s fees) (“Losses”)
to, and claims, demands, actions, suits by a third party (collectively, “Claims”), including claims of property
damage, death or personal injury for which the Indemnified Parties otherwise would be strictly liable, in connection with pending
or threatened litigation or other proceedings, which arise out of or relate to any one of the following:

  

    	 	14	 

     

    

 

(a)          Production,
transport, storage, promotion, labeling, marketing, distribution, use or sale of Product;

 

(b)          Baxter’s
use of the API;

 

(c)          Client’s
negligence or willful misconduct;

 

(d)          Materials;

 

(e)          the
use of the API or the sale. Production, marketing or distribution of Product violates the patent. trademark, copyright or other
proprietary rights of any third party,

 

except if any of the foregoing (a),
(b), (d) or (e) is caused solely by the (i) negligence or willful misconduct of Baxter or (ii) negligent violation of law by Baxter.

 

14.2       Baxter
Indemnification. Baxter shall indemnify, defend and hold harmless Client and its Affiliates and any of their respective directors,
officers, employees, subcontractors and agents from and against any and all Losses to, and Claims by, a third party in connection
with pending or threatened litigation or other proceedings, resulting solely from Baxter’s negligence or willful misconduct.
Baxter’s liability under this Section 14.2 shall be subject to the Monetary Cap.

 

14.3     Indemnitee
Obligations. Any Party seeking indemnification hereunder (a) shall give prompt written notice to the other Party (the “Indemnifying
Party”) of any Claim for which indemnification is sought, (b) shall permit the Indemnifying Party to assume full responsibility
to investigate, prepare for and defend against the Claim, (c) shall reasonably assist the Indemnifying Party, at the Indemnifying
Party’s reasonable expense, in the investigation of and preparation for the defense of such Claim, and (d) shall not compromise
or settle such Claim without the Indemnifying Party’s prior written consent.

 

Article 15, INSURANCE

 

15.1      Client
Insurance. Client shall procure and maintain, during the Term of this Agreement and for a period one (1) year beyond the expiration
date of Product, Commercial General Liability Insurance, including without limitation, Product Liability and Contractual Liability
coverage (the “Client Insurance”). Client Insurance shall cover amounts not less than 10,000,000 € (ten
million EURO) combined single limit and shall be with an insurance carrier with an A.M. Best rating of A-VII or better. Baxter
shall be named as an additional insured on Client Insurance and Client promptly shall deliver a certificate of Client Insurance
and endorsement of additional insured to Baxter evidencing such coverage. If Client fails to furnish such certificates or endorsements,
or if at any time during the Term of this Agreement Baxter is notified of the cancellation or lapse of Client Insurance, and Client
fails to rectify the same within ten (10) calendar days after notice from Baxter, in addition to all other remedies available to
Baxter hereunder, Baxter, at its option, may (i) cease all work in process and refuse further services and/or Production until
Client re-establishes to Baxter’s satisfaction that Client is in compliance with Client Insurance requirements and/or (ii)
terminate this Agreement. Any deductible and/or self-insurance retention shall be the sole responsibility of Client.

 

    	 	15	 

     

    

 

15.2       Baxter
Insurance. Baxter is, and will during the Term of this Agreement remain, self-insured for the type of liability that could
arise under this Agreement in amounts no less than the coverage amounts set forth above for Client Insurance.

 

15.3     No
Limitation. Neither Party’s liability will be limited to that which is recoverable by insurance.

 

Article 16, COMPLAINTS, RECALL OF PRODUCT

 

16.1     Complaints.
In the event Client or Baxter receives complaints regarding Products which require Baxter to perform an investigation or conduct
tests, Client is obliged to reimburse Baxter for any costs incurred in connection with such complaints.

 

16.2     Recalls.
In the event Client is required to recall any Product, or elects to institute a voluntary recall, Client will be responsible for
coordinating such recall. Client will promptly notify Baxter of such recall and provide Baxter with a copy of all documents relating
to such recall. Baxter will cooperate with Client in connection with any recall, at Client’s expense. Client will be responsible
for all of the costs and expenses of such recall (including but not limited to costs associated with receiving and administering
the recalled Product and notification of the recall to those persons whom Client deems appropriate).

 

Article 17, INTELLECTUAL PROPERTY

 

17.1     Existing
Intellectual Property. Except as the Parties may otherwise expressly agree in writing, each Party shall continue to own its
existing patents, trademarks, copyrights, trade secrets and other intellectual property, without conferring any interests therein
on the other Party. Without limiting the generality of the preceding sentence, Client shall retain all right, title and interest
arising under Applicable Law in and to all Products, labeling and trademarks associated therewith (collectively, “Client’s
Intellectual Property”). Client hereby grants to Baxter a non-exclusive, paid-up, royalty-free license under Client’s
Intellectual Property and any Client-owned Inventions arising under this Agreement, solely to the extent reasonably necessary
for Baxter to perform its obligations under this Agreement. Neither Baxter nor any third party shall acquire any other right.
title or interest in Client’s Intellectual Property by virtue of this Agreement or otherwise.

 

17.2      Product-Related
Inventions. Client and Baxter each acknowledge and agree that all rights, title and interest in and to any Inventions, as between
the Parties„ except for Process Inventions, shall be owned by Client, and in furtherance thereof Baxter hereby assigns all
rights, interests and title in said Inventions to Client.

 

17.3      Process Inventions.
The Parties agree that such Process Inventions shall be owned by Baxter and in furtherance thereof Client hereby assigns all rights,
interests and title in said Process Inventions to Baxter subject to the restrictions and conditions set forth in this Section.
Specifically, Baxter grants to Client a non-exclusive, paid-up, royalty-free, irrevocable worldwide license to Process Inventions
for the manufacturing of the Product.

 

    	 	16	 

     

    

 

17.4       Disclaimer.
Except as otherwise expressly provided herein, nothing contained in this Agreement shall be construed or interpreted, either expressly
or by implication, or otherwise, as: (i) a grant. transfer or other conveyance by either Party to the other of any right, title,
license or other interest of any kind in any of its Inventions or other intellectual property, (ii) creating an obligation on the
part of either Party to make any such grant, transfer or other conveyance or (iii) requiring either Party to participate with the
other Party in any cooperative development program or project of any kind or to continue with any such program or project.

 

17.5       Rights in
Intellectual Property. The Party owning any Intellectual Property shall have the worldwide right to control the drafting, filing,
prosecution and maintenance of patents covering the Inventions relating to such Intellectual Property, including decisions about
the countries in which to file patent applications. Patent costs associated with the patent activities described in this Section
shall be borne by the sole owner. Each Party will cooperate with the other Party in the filing and prosecution of patent applications.
Such cooperation will include, but not be limited to, furnishing supporting data and affidavits for the prosecution of patent applications
and completing and signing forms needed for the prosecution, assignment and maintenance of patent applications.

 

17.6       Confidentiality
of Intellectual Property. Intellectual Property shall be deemed to be the Confidential Information of the Party owning such
Intellectual Property. The protection of each Party’s Confidential Information is described in Article 18. Any disclosure
of information by one Party to the other under the provisions of this Article 17 shall be treated as the disclosing Party’s
Confidential Information under this Agreement. It shall be the responsibility of the Party preparing a patent application to obtain
the written permission of the other Party to use or disclose the other Party’s Confidential Information in the patent application
before the application is filed and for other disclosures made during the prosecution of the patent application.

 

Article 18, CONFIDENTIAL INFORMATION, NONDISCLOSURE AND PUBLICITY

 

18.1     Confidentiality.
It is contemplated that in the course of the performance of this Agreement each Party may, from time to time, disclose Confidential
Information to the other. Each Party agrees to take all reasonable steps to prevent disclosure of Confidential Information to third
parties. No provision of this Agreement shall be construed so as to preclude disclosure of Confidential Information as may be reasonably
necessary to secure from any governmental agency necessary approvals or licenses or to obtain patents with respect to the Product.

 

18.2      Prior
Confidentiality Agreement.

 

18.2.1           This
Agreement, by reference, incorporates the Confidentiality Agreement signed by Client and Baxter’s Affiliate, Baxter Healthcare
Corporation, on September 4, 2014 (the “Confidentiality Agreement”), and is made a part hereof as though fully
set forth herein and all terms and conditions set forth in the Confidentiality Agreement shall continue to govern any disclosure
made under the Confidentiality Agreement and shall govern any disclosure made as of the Effective Date of this Agreement. “Confidential
Information”, as used in this Agreement, shall have the meaning defined in the Confidentiality Agreement.

  

    	 	17	 

     

    

 

18.2.2           All
obligations of confidentiality and non-use imposed upon the Parties under this Agreement, including without limitation the period
of confidentiality and non-use as set forth in the Confidentiality Agreement which is hereby amended by this Section 18.2.2, shall
expire three (3) years after the expiration or earlier termination of this Agreement.

 

18.3       Third
Party Disclosure. Baxter will be permitted to disclose Product information to third party developmental and analytical services
providers in connection with performance of its obligations hereunder provided such providers shall be subject to confidentiality
agreements.

 

18.4       Limitation
of Disclosure. The Parties agree that, except as otherwise may be required by Applicable Law, including without limitation
the rules and regulations promulgated by the United States Securities and Exchange Commission (the “SEC”),
and except as may be authorized in the Confidentiality Agreement and unless otherwise agreed in this Agreement, no information
concerning this Agreement and the transactions contemplated herein shall be made public by either Party without the prior written
consent of the other.

 

18.5       Publicity
and SEC Filings. The Parties agree that the public announcement of the execution of this Agreement shall only be by one or
more press releases mutually agreed to by the Parties. The failure of a Party to return a draft of a press release with its proposed
amendments or modifications to such press release to the other Party within five (5) business days of the Party’s receipt
of the press release shall be deemed as approval of such press release. Each Party agrees that it shall cooperate fully and in
a timely manner with the other with respect to all disclosures to the SEC or any other governmental or regulatory agencies, including
providing written notice to Baxter and sufficient time to review and request confidential treatment of Confidential Information
of either Party included in any such disclosure. Baxter may communicate information to its investors to the extent made public
by Client.

 

18.6       Reference
List. Baxter shall be entitled to put Client’s name on a reference list if Client does not explicitly object to such
procedure.

 

Article 19, FORCE MAJEURE

 

19.1       Any
delay in the performance of any of the duties or obligations of either Party hereto (except the payment of money) caused by an
event outside the affected Party’s reasonable control shall not be considered a breach of this Agreement, and unless provided
to the contrary herein, the time required for performance shall be extended for a period equal to the period of such delay. Such
events shall include without limitation, acts of God; acts of public enemies; insurrections; riots: terrorist actions; injunctions;
embargoes; labor disputes, including strikes, lockouts, job actions, or boycotts; fires; explosions; floods; shortages of Materials
or energy; delays in the delivery of Materials or energy; acts or orders of any government or agency thereof or other unforeseeable
causes beyond the reasonable control and without the fault or negligence of the Party so affected. The Party so affected shall
give prompt notice to the other Party of such cause and a good faith estimate of the continuing effect of the force majeure condition
and duration of the affected Party’s nonperformance, and shall take whatever reasonable steps are appropriate to relieve
the effect of such causes as rapidly as possible. If the period of nonperformance by Baxter because of Baxter force majeure conditions
exceeds one hundred twenty (120) calendar days, Client may terminate this Agreement by written notice to Baxter. If the period
of nonperformance by Client because of Client force majeure conditions exceeds one hundred twenty (120) calendar days, Baxter may
terminate this Agreement by written notice to Client.

 

 

    	 	18	 

     

    

 

Article 20, NOTICES

 

20.1       All
notices hereunder shall be delivered by facsimile (confirmed by overnight delivery), or by overnight delivery with a reputable
overnight delivery service to the following address of the respective Parties:

 

	 	If to Baxter:	Baxter Oncology GmbH
	 	 	Kantstr. 2
	 	 	33790 Halle/Westfalen
	 	 	Germany
	 	 	Attn: Director, Contract Manufacturing and Business Development 
	 	 	Fax No.               +49 5201 711 1880 
	 	 	Telephone No.    +49 5201 711 1864
	 	 	 
	 	With a copy to:	Baxter Oncology GmbH
	 	 	Kantstr. 2
	 	 	33790 Halle/Westfalen
	 	 	Germany
	 	 	Attn: Plant Manager
	 	 	Fax No.               +49 5201 711 1355
	 	 	Telephone No.    +49 5201 711 2524
	 	 	 
	 	If to Client:	Accelerated Pharma, Inc.
	 	 	15W155 81st Street
	 	 	Burr Ridge, Illinois 60527
	 	 	Attn: Chief Executive Officer 
	 	 	Fax No.               (__) __ - __
	 	 	Telephone No.    (847) 960-5630
	 	 	 
	 	With a copy to:	Polsinelli PC
	 	 	900 W. 48th Place, Suite 900 
	 	 	Kansas City, Missouri 64112 
	 	 	Attn: Patrick C. Woolley
	 	 	Fax No.               (__) __ - __
	 	 	Telephone No.    (816) 360-4280

 

Notices shall be effective
on the day following the date of transmission if sent by facsimile, and on the second business day following the date of delivery
to the overnight delivery service if sent by overnight delivery. A Party may change its address listed above by notice to the other
Party given in accordance with this Section.

  

    	 	19	 

     

    

 

Article 21, GOVERNING LAW

 

21.1       This
Agreement is being delivered and executed in Germany. In any action brought regarding the validity, construction and enforcement
of this Agreement, it shall be governed in all respects by the substantive and procedural laws of Germany, without regard to the
principles of conflict of laws. The courts of Germany shall have personal jurisdiction over the Parties hereto in all matters arising
hereunder, and venue for such suit will be the competent court of Bielefeld.

 

Article 22, ASSIGNMENT

 

22.1       Neither
Party shall assign this Agreement or any part hereof or any interest herein to any third party without the prior written approval
of the other Party. Without the other Party’s consent, either Party may assign this Agreement to one of its Affiliates or
assign this Agreement in connection with an internal corporation reorganization, consolidation or divestiture. No assignment shall
be valid unless the permitted assignee(s) assumes all obligations of its assignor under this Agreement. No assignment shall relieve
any Party of any responsibility for the performance of its obligations hereunder which accrued prior thereto.

 

Article 23, SUCCESSORS AND ASSIGNS

 

23.1       This
Agreement shall be binding upon and shall inure to the benefit of the Parties hereto, their successors and permitted assigns.

 

Article 24, ENTIRE AGREEMENT

 

24.1       This
Agreement, including all agreements specifically incorporated by reference, constitutes the entire agreement between the Parties
concerning the subject matter hereof and supersedes all written or oral prior agreements or understandings with respect thereto.

 

Article 25, SEVERABILITY

 

25.1       If
any term or provision of this Agreement shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other term or provision hereof, and this Agreement shall be interpreted and
construed as if such term or provision, to the extent the same shall have been held to be invalid, illegal or unenforceable, had
never been contained herein.

  

    	 	20	 

     

    

 

Article 26, WAIVER AND MODIFICATION OF AGREEMENT

 

26.1       No
waiver or modification of any of the terms of this Agreement shall be valid unless in writing and signed by authorized representatives
of both Parties hereto. Failure by either Party to enforce any rights under this Agreement shall not be construed as a waiver of
such rights nor shall a waiver by either Party in one or more instances be construed as constituting a continuing waiver or as
a waiver in other instances.

 

Article 27, INDEPENDENT CONTRACTOR

 

27.1       Both
Parties shall act as an independent contractor for the other Party in providing the services required hereunder and shall not be
considered an agent of, or joint venturer with, the other Party.

 

Article 28, COUNTERPARTS

 

28.1       For
convenience, this Agreement may be executed in counterparts with the same force and effect as if each of the signatories had executed
the same Agreement.

 

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

 

	BAXTER ONCOLOGY GmbH	 	ACCELERATED PHARMA, INC.
	 	 	 
	By:	/s/
    Sven Remmerbach	 	By:	/s/
    Michael Fonstein
	Name:	Dr. Sven Remmerbach	 	Name:	Michael Fonstein
	Title:	Director BDCM	 	Title:	CEO

 

	BAXTER ONCOLOGY GmbH	 	 
	 	 	 
	By:	/s/ Bernhard
    Assies	 	 
	Name:	Bernhard Assies	 	 
	Title:	Director Finance & Contract Services	 	 

  

    	 	21Exhibit 10.15

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of [_______], 2016, between Accelerated Phanna, Inc., a Delaware corporation
(the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors
and permitted assigns, a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, subject to the
terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the
“Securities Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to each Purchaser,
and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described
in this Agreement.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1           Definitions.
In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined herein have
the meanings given to such terms in the Articles of Incorporation (as defined herein), and (b) the following terms have the meanings
set forth in this Section 1.1.

 

“Acquiring Person” shall have the meaning
ascribed to such term in Section 4.15.

 

“Action” shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under
common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Board of Directors” means
the board of directors of the Company.

 

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Closing” means a Closing
of the purchase and sale of the Securities pursuant to Section 2.1.

 

“Closing Date”
means the Business Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto,
and all conditions precedent to (i) the Purchasers’ obligation to pay the Subscription Amount at such Closing, and (ii) the
Company’s obligations to deliver the Securities to be issued and sold at such Closing, in each case, have been satisfied
or waived.

 

“Commission” means the United
States Securities and Exchange Commission.

 

“Common Stock” means the
common stock of the Company, $0.00001 par value per share, and any other class of securities into which such securities may hereafter
be reclassified or changed.

 

    	 	1	 

     

    

 

“Common Stock
Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

“Company Counsel” means
Randy Saluck, Esq., c/o Accelerated Pharma, Inc., 15W155 81’ Street, Burr Ridge, IL 60527, fax: (630) 325-4179.

 

“Conversion Price” shall
have the meaning ascribed to such term in the Note.

 

“Conversion Shares” means
shares of the Company’s Common Stock issuable upon conversion of the Note and interest in accordance with the terms of the
Note.

 

“Disclosure Schedules” means
the Disclosure Schedules of the Company delivered concurrently herewith.

 

“End Date” shall have the
meaning ascribed to such term in Section 4.9.

 

“Equity Line of Credit” shall
have the meaning ascribed to such term in Section 4.9.

 

“Escrow Agreement” means
the escrow agreement to be employed in connection with the sale of the Securities, a copy of which is annexed hereto as Exhibit
C.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt Issuance” means the issuance of (a) shares of Common Stock and options to officers, directors, employees, or consultants of the Company
prior to and after the Closing Date in the amounts and on the terms set forth on Schedule 3.1(k), (b) securities upon the
exercise or exchange of or conversion of Securities issued hereunder (subject to adjustment for forward and reverse stock splits
and the like that occur after the date hereof) and/or other securities exercisable or exchangeable for or convertible into shares
of Common Stock issued and outstanding on the date of this Agreement, provided that such securities and any term thereof have not
been amended since the date of this Agreement to increase the number of such securities or to decrease the issue price, exercise
price, exchange price or conversion price of such securities and which securities and the principal terms thereof are set forth
on Schedule 3.1(g), (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested
directors of the Company, provided that any such issuance shall only be to a Person (or to the equityholders of a Person) which
is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business
of the Company and shall be intended to provide to the Company substantial additional benefits in addition to the investment of
funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital
or to an entity whose primary business is investing in securities, and (d) securities issued or issuable pursuant to this Agreement,
the Note or the Warrants, or upon exercise or conversion of any such securities.

 

“FCPA” means the Foreign
Corrupt Practices Act of 1977, as amended.

 

“FDA” shall have the meaning ascribed
to such term in Section 3.1(11).

 

“FDCA” shall have the meaning
ascribed to such term in Section 3.1(11).

 

“Financial Statements” 
means the financial information annexed hereto as Schedule 3.1(h).

 

    	 	2	 

     

    

 

“Fully-Diluted
Basis” means the assumption that all options, warrants or other convertible securities or instruments or other rights
to acquire Common Stock or any other existing or future classes of capital stock have been exercised or converted, as applicable,
in full, regardless of whether any such options, warrants, convertible securities or instruments or other rights are then vested
or exercisable or convertible in accordance with their terms.

 

“GAAP” shall
mean United States generally accepted accounting principals applied on a consistent basis.

 

“Going Public Event” shall
have the meaning ascribed to such term in Section 4.13.

 

“Indebtedness” shall have the meaning ascribed to such
term in Section 3.1(w).

 

“Intellectual Property Rights” shall Have the meaning ascribed to such term in Section 3.1(o).

 

“Liens” means a lien, charge,
pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction,

 

“Maioritv in Interest” shah
have the meaning ascribed to such ten;; in •Section 5.5

 

“Material Adverse Effect” shall
have the meaning assigned to such term in Section 3: (b).

 

“Material Permits” shall have the meaning ascribed
to such term in Section 3.1(m).

 

“Maximum Rate” shall have the meaning ascribed to such tern: in Section 5.17.

 

“Money Laundering. Laws” 
shall have the meaning ascribed to such term in Section 3.1(aa).

 

“Notes” means the convertible notes, in the
form of Exhibit A hereto.

 

“OFAC” shall have the meaning
ascribed to such term in Section 3.1(bb).

 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Prior Offerings” means the offering by the Company of convertible notes and common stock purchase warrants on substantially similar, but not
identical terms as this offering for which closings took place as of December 23, 2014 for gross proceeds to the Company of $750,000,
as of May 8, 20:5 for gross proceeds of 52,050,000, as of June 11, 2015 for gross proceeds of 550,000, and as of November 6, 2015
for gross proceeds of 5500,000.

 

“Prior Offering
Transaction Documents” means, collectively, the Prior Offering Securities Purchase Agreement, Prior Offering Note, Prior
Offering Warrant, and Prior Offering Security Agreement.

 

“Prior Offering Note” means
the convertible notes issued in connection with the Prior Offerings,

 

“Prior Offerina
Purchasers” rneans the purchasers to the Prior Offerings.

 

“Prior Offering Securities Purchase
Agreements” means the securities purchase agreements employed in connection with the Prior Offerings.

 

    	 	3	 

     

    

 

“Prior Offering Security Agreement” 
means the Amended and Restated Security Agreement dated as of May 8, 20:5 employed in connection with the Prior Offerings.

 

“Prior Offering Warrants” 
means the common stock purchase warrants issued in connection with the Prior Offerings.

 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition, whether commenced or threatened.

 

“Public Company Date” means
not later than the 150th day after the Qualified Offering has been consummated.

 

“Purchaser Counsel” shall
mean Crushko & Mittman, P.C., 515 Rockaway Avenue, Valley Stream, New York 11581, facsimile: (212) 697-3575.

 

“Purchaser Partv” shall have
the meaning ascribed to such term in Section 4.6.

 

“Oualified Offering” 
means the first occurrence of an offering of the Company’s Common Stock which closes in one or more closings in connection
with which the Company receives not less than 55,000,000 of gross cash proceeds from the sale of Common Stock on or before November
15, 2016 by Palladium Capital Advisors, LLC pursuant to the terms of an investment banking agreement between the Company and Palladium
Capita: Advisors, LLC, and thereafter by the Company or other placement agent until the Maturity Date (as defined in the Note)
accelerated or otherwise,

 

“Regulation D” means Regulation
D under the Securities Act.

 

“Required Aporovals” shall
have the meaning ascribed to such term in Section 3.1(e).

 

“Required Minimum” 
means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future
pursuant to the Transaction Documents, including but not limited to any Underlying Shares issuable upon conversion in full of the
Notes and the interest that could accrue through the term thereof and the Warrant Shares issuable upon exercise of the Warrants,
ignoring any conversion or exercise limits set forth therein.

 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from
time to time, or any similar rule or regulation hereafter adopted by the Commission having( substantially the same purpose and
effect as such Rule.

 

“Second Amended
and Restated Security Agreement” means the Second Amended and Restated Security Agreement dated as of the date of this
Agreement, a copy of which is annexed hereto as Exhibit D.

 

“Securities” means the Notes,
the Warrants, and the Underlying Shares.

 

“Securities Act” 
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subscriction
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Notes and Warrants purchased hereunder as
specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription
Amount,” in United States dollars and in immediately available funds.

 

    	 	4	 

     

    

 

“Subsidiary” means with respect to any entity at any date, any direct or indirect corporation, limited or general partnership, limited liability
company, trust, estate, association, joint venture or other business entity of which (A) more than 50% of (i) the outstanding capital
stock having (in the absence of contingencies) ordinary voting power to elect a majority of the board of directors or other managing
body of such entity, (H) in the case of a partnership or limited liability company, the interest in the capital or profits of such
partnership or limited liability company or (Hi) in the case of a trust, estate, association, joint venture or other entity, the
beneficial interest in such trust, estate, association or other entity business is, at the time of determination, owned or controlled
directly or indirectly through one or more intermediaries, by such entity, or (B) is under the actual control of the Company. Representations,
undertakings and obligations set forth in this Agreement shall be applicable only to Subsidiaries which exist or have existed at
the applicable and relevant time.

 

“Termination Date” shall
have the meaning ascribed to such term in Section 2.1.

 

“Third Waiver
and Consent” means the agreement entered into by the Company and the requisite Prior Offering Purchasers sufficient to
cause it to be binding on the Company and all of the Prior Purchasers in the form annexed hereto as Exhibit F.

 

“Trading Day” means a day
on which the principal Trading Market is open for trading.

 

“Trading Market”
 means any of the following markets or exchanges: the NYSE MKT LLC, the Nasdaq Capital Market, the Nasdaq Global Market,
the Nasdaq Global Select Market, the New York Stock Exchange, the OTC Bulletin Board, the OTCQB, or the OTCQX (or any successors
to any of the foregoing).

 

“Transaction Documents” means this Agreement, the Notes, the Warrants, the Escrow Agreement, the Prior Offering Security Agreement, all exhibits and schedules
thereto and hereto, the Second Waiver and Consent, and any other documents or agreements executed in connection with the transactions
contemplated hereunder.

 

“Transfer Agent” means the
transfer agent for the Common Stock, and any successor transfer agent of the Company. As of the Closing Date, the Company is the
Transfer Agent.

 

“Underlying Shares” 
means the shares of Common Stock issued and issuable upon conversion of the Notes and payment of interest on the Notes in accordance
with the terms of the Notes and upon exercise of the Warrants in accordance with the terms of the Warrants.

 

“Variable Priced Equity Linked Instruments” 
shall have the meaning ascribed to such term in Section 4.9.

 

“Variable Rate
Transaction” shall have the meaning ascribed to such term in Section 4.9.

 

“Warrants” means the Common
Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Article!! hereof, in the form of Exhibit
B attached hereto.

 

“Warrant Shares” means the
shares of Common Stock issuable upon exercise of the Warrants.

 

    	 	5	 

     

    

 

ARTICLE II.

PURCHASE AND SALE

 

2.1         Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution
and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly,
agree to purchase, an aggregate of up to 51,500.000 principal amount of Notes and Warrants as determined pursuant to Section 2.2(a)
(such purchase and sale being the “Closing”. Each Purchaser shall deliver to the Company such Purchaser’s
Subscription Amount, and the Company shall deliver to each Purchaser its respective Note and Warrants, as determined pursuant
to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the
Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices
of G&M or such other location as the parties shall mutually agree. Notwithstanding anything herein to the contrary, the initial
Closing must take place on or before May 2, 2016. The Closing Date for the final Closing shall occur on or before June 30, 2016
(the “Termination Date”). With respect to any Closing not held on or before the Termination Date, the Company
shall cause all subscription documents and funds, if any, to be returned, without interest or deduction to each prospective Purchaser.
Notwithstanding of the date of any Closing subsequent to the initial Closing, all time effective clauses in the Transaction Documents
shall commence on the initial Closing Date and Transaction Documents will be deemed modified Mutatis Mutandum in connection
with such subsequent Closings, if any, that take place after the initial Closing. The ‘Maturity Date of the Notes issued
at all Closing subsequent to the initial Closing and the exercise period of the Warrants issued at such Closings shall be the
same as the Maturity Date of the Notes issued at the initial Closing and be co-terminous with the exercise period of the Warrants
issued at the initial Closing.

 

2.2         Deliveries.

 

(a)          On
or prior to a Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i)          this
Agreement duly executed by the Company with the schedules and exhibits thereto current as of each such Closing Date;

 

(ii)         the
Second Amended and Restated Security Agreement duly executed by the Company;

 

(iii)        a
Note with a principal amount equal to such Purchaser’s Subscription Amount registered in the name of such Purchaser;

 

(iv)        Warrants
registered in the names of such Purchaser with an aggregate exercise price equal to fifty percent (50%) of such Purchaser’s
Subscription Amount, subject to adj UStITICIlt as provided therein;

 

(vi)        the
Escrow Agreement duly executed by the Company; and

 

(vi)        the
Third Waiver and Consent signed by the Prior Offering Purchasers and

Company.

 

(b)          On
or prior to a Closing Date, each Purchaser shall deliver or cause to be delivered to the Escrow Agent the following:

 

(i)          this
Agreement duly executed by such Purchaser;

 

    	 	6	 

     

    

 

(ii)         the
Second Amended and Restated Security Agreement duly executed by such Purchaser;

 

(iii)        such
Purchaser’s Subscription Amount by wire transfer or as otherwise permitted under the Escrow Agreement, to the Escrow Agent;
and

 

(iv)        the
Escrow Agreement duly executed by such Purchaser.

 

2.3         Closing
Conditions.

 

(a)          The
obligations of the Company hereunder to effect a Closing are subject to the following conditions being met:

 

(i)          the
accuracy in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers
therein) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific
date therein in which case they shall be accurate as of such date);

 

(ii)         all
obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been
performed; and

 

(iii)        the
delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b)          The
respective obligations of a Purchaser hereunder to effect a Closing, unless waived by such Purchaser, are subject to the following
conditions being met:

 

(i)          the
accuracy in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers
therein) on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date
therein in which case they shall be accurate as of such date);

 

(ii)         all
obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed,

 

(iii)        the
Escrow Agent shall have received executed signature pages to this Agreement and aggregate Subscription Amount of $500,000 with
respect to the initial Closing and not less than $250,000 with respect to subsequent Closings;

 

(iv)        the
delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(v)         there
shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(vi)        from
the date hereof to each respective Closing Date, trading in securities in the United States generally as reported by Bloomberg
L.P. shall not have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or
New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or
international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each
case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

 

    	 	7	 

     

    

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1         Representations
and Warranties of the Company. Except as set forth in the Disclosure Schedules, which Disclosure Schedules shall be deemed
a part hereof and shall qualify any representation made herein to which it refers and any other representation to the extent such
Disclosure Schedule reasonably relates thereto without a requirement of a cross-reference. The Company hereby makes the following
representations and warranties to each Purchaser as of the date hereof and each Closing Date unless as of a specific date therein
in which case they shall be accurate as of such date:

 

(a)          Subsidiaries.
All of the direct and indirect subsidiaries of the Company and the Company’s ownership interests therein as of the date
of this Agreement are set forth on Schedule 3.1(a). The Company owns, directly or indirectly, all of the capital stock or
other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital
stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe
for or purchase securities. If the Company has no Subsidiaries relevant to any component of this Agreement as of a particular date,
then such reference shall not be applicable.

 

(b)          Organization
and Oualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power
and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company
nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation,
bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business
and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted
or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as
the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity
or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business,
prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse
effect on the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction
Document (any of (i), (H) or (Hi), a “Material Adverse Effect”) and, no Proceeding has been instituted in any
such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

(c)         Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s stockholders and creditors in connection
herewith or therewith other than in connection with the Required Approvals except those filings requires to be made with the Commission
and state agencies after the Closing Date. This Agreement and each other Transaction Document to which it is a party has been (or
upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof,
will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except:
(i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws
of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions
may be limited by applicable law.

 

    	 	8	 

     

    

 

(d)          No
Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents, the
issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby to which it
is a party do not and will not: (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any
of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which
any property or asset of the Company or any Subsidiary is bound or affected, or (iii) conflict with or result in a violation of
any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which
the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property
or asset of the Company or a Subsidiary is bound or affected.

 

(e)          Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i)
the filing of Form D with the Commission, and (ii) such filings as are required to be made under applicable state securities laws
(collectively, the “Required Approvals”).

 

(f)           Issuance
of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The
Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the Underlying Shares
at least equal to the Required Minimum on the date hereof.

 

(g)          Capitalization.
The capitalization of the Company is as set forth in Schedule 3.1(g). Except as disclosed on Schedule 3.1(g), no Person
has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by the Transaction Documents. Except as disclosed on Schedule 3.1(g), there are no outstanding options, employee
or incentive stock option plans warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to
subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company
or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. Except for the
stock option plan annexed to Schedule 3.1(g) hereto, there is no stock option plan in effect as of the Closing Date. Except as
set forth on Schedule 3.1 (g), the issuance and sale of the Securities will not obligate the Company to issue shares of
Common Stock or other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company
securities to adjust the exercise, conversion, exchange or reset price under any of such securities. All of the outstanding shares
of capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in material
compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive
rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any stockholder, the
Board of Directors or others is required for the issuance and sale of the Securities. There are no stockholders agreements, voting
agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a party or, to
the knowledge of the Company, between or among any of the Company’s stockholders.

 

    	 	9	 

     

    

 

(h)          Financial
Statements. Annexed hereto as Schedule 3.1(h) is financial information of the Company (“Financial Statements”).
The Financial Statements have not been prepared in accordance with GAAP. The Financial Statements fairly present in all material
respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results
of operations and cash flows for the periods then ended, subject to normal, immaterial adjustments and inclusion of footnotes
which would be required pursuant to generally accepted accounting principles.

 

(i)           Material
Changes: Undisclosed Events, Liabilities or Developments. Since the date of the Financial Statements except as disclosed on
Schedule 3.161: (i) there has been no event, occurrence or development that has had or that could reasonably be expected
to result in a Material Adverse Effect, (ii) the Company has not incurred any material liabilities (contingent or otherwise) other
than trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice, (iii) the Company
has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other
property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock
and (v) the Company has not issued any equity securities to any officer, director or Affiliate.

 

(j)           Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company,
threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the
Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse
Effect. At no time, neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of
any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty.

 

(k)          Labor
Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of
the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither
the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or
any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of
its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance
with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and
conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

    	 	10	 

     

    

 

(l)          Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not
been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor
has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit aueement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any
court, arbitrator or other governmental authority or (Hi) is or has been in violation of any statute, rule, ordinance or regulation
of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental
protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case as
could not have or reasonably be expected to result in a Material Adverse Effect.

 

(m)        Regulatory
Permits. The Company and the Subsidiaries possess all certificates, authorizations and pennits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their respective businesses as presently conducted, and as
contemplated to be conducted, except where the failure to possess such permits could not reasonably be expected to result in a
Material Adverse Effect (“Material Permits”). and neither the Company nor any Subsidiary has received any notice
of proceedings relating to the revocation or modification of any Material Permit.

 

(n)         Title
to Assets. The Company and the Subsidiaries have good and marketable title in all personal property owned by them that is material
to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially
affect the value of such propeity and do not materially interfere with the use made and proposed to be made of such property by
the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves
have been made and, the payment of which is neither delinquent nor subject to penalties. The Company and Subsidiaries do not own
any real property. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under
valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance.

 

(0)          Intellectual
Property.

 

(i)           The
term “Intellectual Proper tv Rights” includes:

 

1.           the
name of the Company and each Subsidiary, all fictional business names, trading names, registered and unregistered trademarks,
service marks, and applications of the Company and each Subsidiary (collectively. “Marks”);

 

2.          all
patents, patent applications, and inventions and discoveries that ma” be patentable of the Company and each Subsidiary (collectively,
“Patents”):

 

3.          all
copyrights in both unpublished works and published works of the Company and each Subsidiary (collectively, “Coovrights”):

 

4.          all
rights in mask works of the Company and each Subsidiary (collectively, “Ric,Fhts in Mask Works”);

 

5.          all
know-how, trade secrets, confidential information, customer lists, software, technical information, data, process technology,
plans, drawings, and blue prints (collectively, “Trade Secrets”): owned, used, or licensed by the Company and
each Subsidiary as licensee or licensor; and

 

6.          the
license or right to directly or indirectly use any of the foregoing, whether perpetually or for a fixed term, whether or not subject
to defeasement, and whether or not reduced to writing or otherwise memorialized.

 

    	 	11	 

     

    

 

(ii)        Agreements.   
Schedule 3.1(6) contains a complete and accurate list and description of all material Intellectual Property Rights and of all
contracts relating to the Intellectual Property Rights to which the Company is a party or by which the Company is bound, except
for any license implied by the sale of a product and perpetual, paid-up licenses for commonly available software programs with
a value of less than S10,000 under which the Company is the licensee. There are no outstanding and, to Company’s knowledge,
no threatened disputes or disagreements with respect to any such agreement.

 

(iii)        Know-How
Necessary for the Business. The Intellectual Property Rights are all those necessary for the operation of the Company’s
businesses as it is currently conducted or contemplated to be conducted. The Company is the owner of all right, title, and interest
in and to each of the Intellectual Property Rights, free and clear of all liens, security interests, charges, encumbrances, equities,
and other adverse claims, and has the right to use all of the Intellectual Property Rights. To the Company’s knowledge, no
employee of the Company has entered into any contract that restricts or limits in any way the scope or type of work in which the
employee ma” be engaged or requires the employee to transfer, assign, or disclose information concerning his work to anyone
other than of the Company.

 

(iv)        Patents.
The Company is the owner of or licensee of all right, title and interest in and to each of the Patents, free and clear of all
Liens and other adverse claims. All of the issued Patents are currently in compliance with formal legal requirements (including
payment of filing, examination, and maintenance fees and proofs of working or use), are valid and enforceable, and are not subject
to any maintenance fees or taxes or actions falling due within ninety days after the Closing Date. No Patent has been or is now
involved in any interference, reissue, reexamination, or opposition proceeding. To the Company’s knowledge: (1) there is
no potentially interfering patent or patent application of any third party, and (2) no Patent is infringed or has been challenged
or threatened in any way. To the Company’s knowledge, none of the products manufactured and sold, nor any process or know-how
used, by the Company infringes or is alleged to infringe any patent or other proprietary right of any other Person.

 

(v)         Trademarks.
The Company is the owner of all right, title, and interest in and to each of the Marks, free and clear of all Liens and other
adverse claims. All Marks that have been registered with the United States Patent and Trademark Office are currently in compliance
with all formal legal requirements (including the timely post-registration filing of affidavits of use and incontestability and
renewal applications), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within
ninety days after the Closing Date. No Mark has been or is now involved in any opposition, invalidation, or cancellation and, to
the Company’s knowledge, no such action is threatened with respect to any of the Marks, To the Company’s knowledge:
(I) there is no potentially interfering trademark or trademark application of any third party, and (2) 710 Mark is infringed or
has been challenged or threatened in an)’ way. To the Company’s knowledge, none of the Marks used by the Company infringes
or is alleged to infringe any trade name, trademark, or service mark of any third party.

 

(vi)        Copyrights.
The Company is the owner of all right, title, and interest in and to each of the Copyrights, free and clear of all Liens and
other adverse claims. All the Copyrights have been registered and are currently in compliance with forrnal requirements, are valid
and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the date
of the Closing. No Copyright is infringed or, to the Company’s knowledge, has been challenged or threatened in any way. To
the Company’s knowledge, none of the subject matter of any of the Copyrights infringes or is alleged to infringe any copyright
of any third party or is a derivative work based on the work of a third party. All works encompassed by the Copyrights have been
marked with the proper copyright notice.

 

    	 	12	 

     

    

 

(vii)       Trade
Secrets. With respect to each Trade Secret, the documentation relating to such Trade Secret is current, accurate, and sufficient
in detail and content to identify and explain it and to allow its full and proper use without reliance on the knowledge or memory
of any individual. The Company has taken all reasonable precautions to protect the secrecy, confidentiality, and value of its Trade
Secrets. The Company has good title and an absolute (but not necessarily exclusive) right to use the Trade Secrets. The Trade Secrets
are not part of the public knowledge or literature, and, to the Company’s knowledge, have not been used, divulged, or appropriated
either for the benefit of any Person (other the Company) or to the detriment of the Company. No Trade Secret is subject to any
adverse claim or has been challenged or threatened in any way.

 

(P)         Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. Neither
the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and
when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without
a situ:if-loam increase in cost.

 

(q)          Transactions
With Affiliates and Employees, Except as set forth in the Financial Statements and Transaction Documents, none of the officers
or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any
Subsidiary is presently a partv to any transaction with the Company or any Subsidiary (other than for services as employees, officers
and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise
requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any
officer, director, or any such employee Has a substantial interest or is an officer, director, trustee, stockholder, member or
partner, in each case in excess of 5100,000 other than for: (i) payment of salary or consulting fees for services rendered, (ii)
reimbursement for expenses incurred on behalf of the Company and (iii) except as disclosed on Schedule 3.: (2). A copy of
all employment agreements to which the Company and any Subsidiary are parties is annexed as Schedule 3.: (cp.

 

(r)          Certain
Fees, Except as set forth on Schedule 3.1(r). no brokerage, finder’s fees, commissions or due diligence fees are
or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have
no obligation with respect to any such fees or with respect to any claims made by or on behalf of other Persons for fees of a type
contemplated in this Section 3.1(:) that may be due in connection with the transactions contemplated by the Transaction Documents.

 

(s)          Investment
Company. The Company is not, and is not an Affiliate of and immediately after receipt of payment for the Securities, will not
be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.
The Company shall conduct its business in a manner so that it will not become an “investment company” subject to registration
under the Investment Company Act of 1940, as amended.

 

    	 	13	 

     

    

 

(t)           Registration
Rights. No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities Act
of any securities of the Company or any Subsidiary.

 

(u)          Application
of Takeover Protections. As of the Closing Date, the Company will have taken all necessary action, if any, in order to render
inapplicable as of the Closing Date and thereafter any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation
(or similar charter documents) or the laws of the State of Delaware that is or could become applicable to the Purchasers as a result
of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including
without limitation as a result of the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

 

(v)          Disclosure.
All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries,
their respective businesses and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, when
taken together as a whole, is true and correct in all material respects and does not contain any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under
which they were made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations
or warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2.

 

(w)         Solvency.
Based on the consolidated financial condition of the Company as of the Closing Date, and the Company’s good faith estimate
of the fair market value of its assets, after giving effect to the receipt by the Company of the proceeds from the sale of the
Securities hereunder: (i) the fair saleable value of the Company’s assets exceeds the amount that will be required to be
paid on or in respect of the Company’s existing debts and other liabilities (including known contingent liabilities) as they
mature, (ii) the Company’s assets do not constitute unreasonably small capital to carry on its business as now conducted
and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business
conducted by the Company, consolidated and projected capital requirements and capital availability thereof, and (iii) the current
cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking
into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when
such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature
(taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of
any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or
reorganization laws of any jurisdiction within one year from the Closing Date. The Company Financial Statements and Schedule
3.1 (i) set forth all outstanding liens secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the
Company or any Subsidiary has commitments. For the purposes of this Agreement, “Indebtedness” means (x) any
liabilities for borrowed money or amounts owed in excess of $100,000 other than (i) trade accounts payable incurred by the Company
and its Subsidiaries in the ordinary course of business or (ii) debt financing from a licensed United States bank regularly engaged
in such lending activity, and (y) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others,
whether or not the same are or should be reflected in the Company’s balance sheet (or the notes thereto), except guaranties
by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business,
but excluding trade accounts payable incurred by the Company and its Subsidiaries in the ordinary course of business; and (z) the
present value of any lease payments in excess of $100,000 due under leases required to be capitalized in accordance with generally
accepted accounting principles. Neither the Company nor any Subsidiary is in default with respect to any Indebtedness.

 

    	 	14	 

     

    

 

(x)           Tax
Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local
income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject,
(ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due
on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of
all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid
taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or
of any Subsidiary know of no basis for any such claim.

 

(y)          Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent
or other person acting on behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person
acting on its behalf of which the Company is aware) which is in violation of law or (iv) violated in any material respect any provision
of FCPA.

 

(z)          Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given
by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to
each Purchaser that the Company’s decision to enter into this Agreement and the other Transaction Documents has been based
solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

(aa)        Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body
or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge
of the Company or any Subsidiary, threatened.

 

(bb)        Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer,
agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets
Control of the U.S. Treasury Department (“OFAC”).

 

(cc)        Private Placement.
Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration under
the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby.

 

(dd)        No General Solicitation
or Integration. To the best knowledge of the Company, neither the Company nor any person acting on behalf of the Company has
offered or sold any of the Securities by any form of general solicitation or general advertising. To the best knowledge of the
Company, the Company has offered the Securities for sale only to the Purchasers and certain ether “accredited investors”
within the meaning of Rule 501 under the Securities Act,

 

    	 	15	 

     

    

 

(cc)        indebtedness
and Seniority. As of the date hereof, all Indebtedness and Liens are as set forth on the Company Financial Statements and Schedule
3.1(R. Except as set forth on the Company Financial Statements and Schedule 3.1(R. as of the Closing Date, no Indebtedness,
equity, Common Stock Equivalent is senior to the Notes in right of payment, whether with respect to interest or upon liquidation
or dissolution, or otherwise, and, capital lease obligations (which is senior only as to the property covered thereby).

 

(ff)         FDA.
As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (“FDA”) under the Federal
Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured, packaged, labeled,
tested, distributed, sold, and/or marketed by the Company or any of its Subsidiaries (each such product. a “Pharmaceutical
Product”), such Pharmaceutical Product is being manufactured, packaged, labeled, tested, distributed, sold and/or marketed
by the Company in compliance with at: applicable requirements under FDCA and similar laws, rules and regulations relating to registration,
investigational use, premarket clearance, licensure, or application approval, good manufacturing practices, good laboratory practices,
good clinical practices, product listing, quotas, :abeling, advertising, record keeping and filing of reports, except where the
failure to be in compliance would not have a Material Adverse Effect. There is no pending, completed or, to the Company’s
knowledge, threatened, action (including any lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge,
complaint, or investigation) against the Company or any of its Subsidiaries, and none of the Company or any of its Subsidiaries
has received any notice, warning letter or other COMMunication from the FDA or any other govermnental entity, which (i) contests
the premarket clearance, licensure, registration, or approve: of, the uses of, the distribution of, the manufacturing or packaging
of, the testing of, the sale of, or the labeling and promotion of any Pharmaceutical Product, (ii) withdraws its approval of,
requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials
relating to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by the Company or any of
its Subsidiaries, (iv) enjoins production at any facility of the Company or any of its Subsidiaries, (v) enters or proposes to
enter into a consent decree of permanent injunction with the Company or any of its Subsidiaries, or (vi) otherwise alleges any
violation of any laws, rules or regulations by the Company or any of its Subsidiaries, and which, either individually or in the
aggregate, would have a Material Adverse Effect. The properties, business and operations of the Company have been and are being
conducted in all material respects in accordance with all applicable laws, rules and regulations of the FDA, The Company has not
been informed by the FDA that the FDA will prohibit the marketing, sale, license or use in the United States of any product proposed
to be developed, produced or marketed by the Company nor has the FDA expressed any concern as to approving or clearing for marketing
any product being developed or proposed to be developed by the Company.

 

(gg)       No
Disqualification Events. With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under the
Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer
of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each. an “Issuer Covered Person” and,
Together. “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described
in Rule 506(d)(:)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification
Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any issuer Covered Person
is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under
Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

 

    	 	16	 

     

    

 

(hh)       Other Covered Persons.
The Company is not aware of any person (other than Palladium Capital Advisors LLC) that has been or will be paid (directly or indirectly)
remuneration for solicitation of purchasers in connection with the sale of any Regulation D Securities.

 

(ii)          Notice
of Disqualification Events. The Company will notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification
Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification
Event relating to any Issuer Covered Person.

 

(jj)          Survival.
The foregoing representations and warranties shall survive the Closing Date.

 

3.2         Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants
as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein):

 

(a)          Organization:
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability
company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and
performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary
corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction
Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with
the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance
with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) to the extent the indemnification
provisions contained in this Agreement may be limited by applicable law.

 

(b)          Understandings
or Arrangements. Such Purchaser understands that the Securities are “restricted securities” and have not been registered
under the Securities Act or any applicable state securities law and is acquiring the Securities as principal for its own account
and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act
or any applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities
Act or any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to
distribute or regarding the distribution of such Securities in violation of the Securities Act or any applicable state securities
law (this representation and warranty not limiting such Purchaser’s right to sell the Securities pursuant to a registration
statement or otherwise in compliance with applicable federal and state securities laws). Such Purchaser is acquiring the Securities
hereunder in the ordinary course of its business.

 

    	 	17	 

     

    

 

(c)          Purchaser
Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on
which it converts a Note or exercises any Warrants, it will be either: (i) an “accredited investor” as defined in
Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer”
as defined in Rule 144A(a) under the Securities Act. Such Purchaser is not required to be registered as a broker-dealer under
Section 15 of the Exchange Act. Such Purchaser has the authority and is duly and :egall)’ qua ified to purchase and own
the Securities. Such Purchaser is able to bear the risk of such investment for an indefinite period and to afford a complete loss
:hereof. Such Purchaser has provided the information in the Accredited Investor Questionnaire attached hereto as Exhibit E
(the “Investor Questionnaire”). The information set forth on the signature pages hereto and the lnvestor
Questionnaire regarding such Purchaser is true and complete in ad respects. Except as disclosed in the Investor Questionnaire,
such Purchaser has had no position, office or other materia; relationship within the pas: three years with the Company or Persons
(as defined below) known to such Purchaser to be affiliates of the Company, and is not a member of the Financial Industry Regulatory
Authority or an “associated person” (as such term is defined under the FINRA ivlembership and Registration Rides Section
:011).

 

(d)          Experience
of Such Purchaser. Such Purchaser, either alone or together with its representatives; has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Stich Purchaser is able to bear the economic risk
of an investmem in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e)          lnformation
on Comoany. Purchasers are not deemed to have any knowledge of any information not Mc:tided in the Financia: Statements or
the Transaction Documents unless such information is delivered in the manner described in the next sentence. Each Purchaser was
afforded (i) the opportunity to ask such questions as such Purchaser deemed necessary of, and to receive answers front, representatives
of the Company concerning the merits and risks of acquiring the Securities; (ii) the right of access to information about the
Company a d its financial condition, results of operations; business, properties, management and prospects sufficient
to enable such Purchaser to eva:uate the Securities; and (iii) the opportunity to obtain such additional information that the
Company possesses or can acquire without on effort or expense that is necessary to make an informed investment decision with respect
to acquiring the Securities. In addition, such Purchaser may have received in writing from the Company such other information
concerning its operations, financial condition and other matters as such Purchaser has requested, identified thereon as OTHER
WRITTEN INFORMATION (such other information is codeetively, the “Other Writ-ten information”), and
considCled al: factors such Purchaser deems material in deciding on the advisability of investing in the Securies.

 

(f)           Compliance
with Securities Act: Reliance on Exemntions. Such Pwthaser understands and agrees that the Securities have not been registered
under the 1933 Act or any applicab:e state securities :aws, by reason of their issuance in a transaction that does not require
registration under the 933 Act, and that such Securities must be held indefinitely unless a subsequent disposition is registered
under the :933 Act or any applicable state securities laws or is exempt from such registration. Such Purchaser understands and
agrees:ha:the Securities are being offered and sold to such Purchaser in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and regulations and that the Company is relying in part upon the
truth and accuracy of, and such 2m -chaser’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of such Purchaser se: forth t herein in order to dete—ine the availability of such exemptions and the
&igibi:ity of such Purchaser to acquire the Securities.

 

(g)          Communication
of Offer. Such Purchaser is no: purchasing the Securities as a result of any “genera: solicitation” or “general
advertising,” as such terms are defined in Regulation D, which 11C.1.1 des, but is not limited to, any advertisement, article,
notice or other communication regarding the Securities published in any newspaper, magazine or similar media or on the internet
or broadcast over television, radio or the intemet or presented at any seminar or any other general solicitation or genera: advertiseme:it,

 

    	 	18	 

     

    

 

(h)          No
Governmental Review. Such Purchaser understands that no United States federal or state agency or any other governmental or
state agency has passed on or made recommendations or endorsement of the Securities or the suitabiiity of the investment in the
Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(i)           No
Conflicts. The execution, delivery and performance of this Agreement and performance under the other Transaction Documents
and the consummation by such Purchaser of the transactions contemplated hereby and thereby or relating hereto or thereto do not
and will not (i) result in a violation of such Purchaser’s charter documents, bylaws or other organizational documents, if
applicable, (ii) conflict with nor constitute a default (or an event which with notice or :apse of time or both would become a
default) under any agreement to which such Purchaser is a party, nor (iii) result in a violation of any law, rule, or regulation,
or any order, judgment or decree of any court or governmental agency applicable to such Purchaser or its properties ;except for
such conflicts, defaults and violations as would not, individually or in the aggregate, have a material adverse effect on such
Purchaser). Such Purchaser is not required to obtain any consent, authorization or order of, or make any tiling or registration
with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement
or perform under the other Transaction Documents nor to purchase the Securities in accordance with the terms hereof, provided that
for purposes of the representation made in this sentence, such Purchaser is assuming: and relying upon the accuracy of the relevant
representations and agreements of the Company herein.

 

(j)           Tax
Liability. Such Purchaser has reviewed with its own tax advisors the federal, state, local and foreign tax consequences of
this investment and the transactions contemplated by this Agreement. Such Purchaser understands that it (and not the Company)
shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated
by this Agreement.

 

(k)          Survival.
The foregoing representations and warranties shall survive the Closing Date.

 

3.3         Reliance.
The Company acknowledges and agrees that the representations contained in Section 3.2 shall not modify, amend or affect such
Purchaser’s right to rely on the Company’s representations and warranties contained in this Agreement or any representations
and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection
with this Agreement or the consummation of the transaction contemplated hereby.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1         Transfer
Restrictions.

 

(a)          Disposition
of Securities. The Securities may only be disposed of in compliance with state and federal securities laws. In connection with
any transfer of Securities other than pursuant to an effective registration statement or Rule :44, to the Company or to an Affiliate
of a Purchaser or in connection with a pledge as contemplated in Section 4.1(b)„ the Company may require the transferor thereof
to provide to the Company at the Company’s expense, an opinion of counsel selected by the transferor and reasonably acceptable
to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such
transfer does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any
such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of
a Purchaser under this Agreement.

 

    	 	19	 

     

    

 

(b)          Legend.
The Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in
the following: form:

 

[NEITHER: THIS SECURITY
[NOR THE SECURITIES INTO WHICH THIS SECURITY IS [EXERCISABLE: [CONVERTIBLE:: HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REG:STRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL
OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS
SECURITY [AND THE SECURITIES ISSUABLE UPON :EXERCISE: [CONVERSION] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

The Company acknowledges
and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered broker-dealer
or grant a security interest in some or al: of the Securities to a financial institution that is an “accredited investor”
as defined in Ru:e 501(a) under the Securities Act and who agrees to be bound by the provisions of this Agreement and, if required
under the terms of such arrangement, such Purchaser may transfer pledge or secure Securities to the pledgees or secured parties.
Such a pledge or transfer would not be subject to approval of the Company and no legal opinion of legal counsel of the pledgee,
secured party or pledger shah be required in connection therewith. At such Purchaser’s expense, the Company will execute
and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection with
a pledge or transfer of the Securities,

 

(c)          Legend
Removal. Certificates evidencing the Underlying Shares shall not contain any legend (including the legend set forth in Section
4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act,
(ii) following any sale of such Underlying Shares pursuant to Rule 144, or (iii) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission).
The Company agrees that following such time as such legend is no longer required under this Section 4.1(c), it will, no later
than ten (1O) Business Days following the delivery by a Purchaser to the Company or the Transfer Agent of a certificate representing
Underlying Shares issued with a restrictive legend (such tenth Business Day. the “Legend Removal Dare”), together
with all representation letters, certificates and legal opinions required by the Transfer Agent, deliver or cause to be delivered
to such Purchaser a certificate representing such shares that is free from all restrictive and ether legends (ho’vever,
the Corporation shall use reasonable best efforts to deliver such shares within seven (7) Business Days). The Company may not
make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth
in this Section 4.

 

(d)          Resale
Requirements. Each Purchaser, severally and not jointly with the ether Purchasers, agrees with the Company that such Purchaser
will sell the Securities pursuant to either the registration requirements of the Securities Act, including any applicable prospectus
delivery requirements, or an exemption therefrom, and that if Securities are sold pursuant to a registration statement, they vi
11 be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive
legend from certificates representing Securities as set forth in this Section 4.1 is predicated upon the Company’s reliance
upon this understanding.

 

    	 	20	 

     

    

 

(e)          Remedies.
Commencing after the occurrence of a Going Public Event, in addition to such Purchaser’s other available rentedies, the
Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty, for each $1,000 of Conversion Shares
or \Varrant Shares delivered for removal of the restrictive legend and Conversion Shares delivered for conversion into Shares,
$10 per Trading Day for each Trading Day following the Legend Removal Date or the date such Securities are to be delivered pursuant
to the Note until such Common Stock certificate is delivered without a legend pursuant to Section 4.1(c) or such Conversion Shares.
Nothing herein shall limit such Purchaser’s right to elect in lieu of the aforedescribed liquidated damages to pursue actual
damages for the Company’s failure to deliver certificates representing any Underlying Shares as required by the Transaction
Documents, and such Purchaser shall have the right to pursue all remedies available to it at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief

 

(f)           Injunction.
In the event a Purchaser shall request delivery of Securities as described in this Section 4.1 or Common Stock pursuant to the
Note and the Company is required to deliver such Securities, the Company may not refuse to deliver Securities based on any claim
that such Purchaser or anyone associated or affiliated with such Purchaser has not complied with Purchaser’s obligations
under the Transaction Documents, or for any other reason, unless, an injunction or temporary restraining order from a court, on
notice, restraining and or enjoining delivery of such unlegended shares shall have been sought and out by the Conmpany and the
Company has posted a surety bond for the benefit of such Purchaser in the amount of 120% of the amount of the aggregate purchase
price of the Securities intended to be subject to the injunction or temporary restraining order, which bond shall remain in effect
until the completion of arbitration/litigation of the dispute and the proceeds of which shall be payable to such Purchaser to the
extent Purchaser obtains judgment in Purchaser’s favor.

 

(g)          Buy-In.
In addition to any other rights available to Ptirchaser, if the Company fails to deliver to a Purchaser Securities as required
pursuant to this Agreement or the Note and after the Legend Removal Date or required delivery date pursuant to the Note the Purchaser,
or a broker on the Purchaser’s behalf, purchases (in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by such Purchaser of the shares of Common Stock which the Purchaser was entitled to receive in unlegended
form from the Company (a “Buy-In”), then the Company shall promptly pay in cash to the Purchaser (in addition
to any remedies available to or elected by the Purchaser) the amount, if any, by which (A) the Purchaser’s total purchase
price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (B) the aggregate purchase
price of the shares of Common Stock delivered to the Company for reissuance as unlegendcd Shares or as are required to be delivered
pursuant to the Note, as the case may be, together with interest thereon at a rate of’15% per annum accruing until such amount
and any accrued interest thereon is paid in full (which amount shall be paid as liquidated damages and not as a penalty). For example,
if a Purchaser purchases shares of Common Stock having a total purchase price of SI 1,000 to cover a Buy-In with respect to S 10,000
of purchase price of Shares - delivered to the Company for reissuance as unlegended shares, the Company shall be required to pay
the Purchaser $1,000, plus interest, if any. The Purchaser shall provide the Company written notice indicating the amounts payable
to the Purchaser in respect of the Buy-In.

 

4.2         Acknowledgment
of Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding
shares of Common Stock, which dilution [may be substantial under certain market conditions. The Company
further acknowledges that its obligations under the Transaction Documents, including, without limitation, its obligation to
issue the Underlying Shares pursuant to the Transaction Documents, are unconditional and absolute and not subject to any
right or set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the Company
may have against any Purchaser and regardless of the dilutive effect that such issuance may have on the ownership of the
other stockholders of the Company.

 

    	 	21	 

     

    

 

4.3         Furnishing
of Information.

 

(a)          The
Company covenants and agrees with the Purchaser that until the Going Public Event, the Company shall deliver to the Purchaser:
(i) for each of its first three fiscal quarters unaudited quarterly financial statements within 75 days after each quarter-end,
(ii) subject to Section 4.3(b), annual audited financial statements prepared according to GAAP within 120 days of year-end, and
(iii) copies of any documents or data furnished to the Company’s stockholders in their capacity as Company stockholders regarding
the Company or its affairs, simultaneously with the furnishing of such documents or data to such stockholders. The foregoing obligations
will be deemed satisfied if such financial statements have been filed with the Commission and are available on the EDGAR system.

 

(b)          Not
later than April 20, 2016, the Company will provide to the Purchasers audited financial statements prepared according to GAAP by
an auditing firm registered with the PCAOB, for the then most recent fiscal year and unaudited stub period financial statements
in form and substance sufficient to meet the minimum requirements for filing with the Commission pursuant to Regulation 5- X and
Form S-I or Form 10.

 

(c)          For
so long as the Notes and Prior Offering Notes remain outstanding the Company shall engage a consultant (the “Consultant”)
pursuant to the terms of a consulting agreement, the form of which is annexed hereto as Exhibit G. The Company will be
responsible to compensate Consultant pursuant to the terms of the consulting agreement.

 

4.4         Conversion
and Exercise Procedures. Each of the form of Notice of Conversion attached to the Note and form of Notice of Exercise included
in the Warrants sets forth the totality of the procedures required of the Purchasers in order to convert the Note or exercise the
Warrant. No additional legal opinion, other information or instructions shall be required of the Purchasers to convert their Note
or exercise their Warrants. The Company shall honor conversions of the Note and exercises of the Warrants and shall deliver Underlying
Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

 

4.5         Use
of Proceeds. The proceeds of the offering will be employed by the Company substantially for the purposes set forth on Schedule
4.5.

 

    	 	22	 

     

    

 

4.6         Indemnification
of Purchasers. Subject to the provisions of this Section 4.6, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of
a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser
(within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all
judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such
Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants
or agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against
Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not
an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless
such action is based upon a breach of such Purchaser Parry’s representations, warranties or covenants under the Transaction
Documents or any agreements or understandings such Purchaser Party may have with any such stockholder or any violations by such
Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which constitutes fraud, gross negligence,
willful misconduct or malfeasance). If any action shall be brought against any Purchaser Party in respect of which indemnity may
be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall
have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any
Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent that (i) the employment
thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time
to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material
conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the
Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will
not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company’s
prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that
a loss, claim, damage or liability is attributable to any Purchaser Party’s breach of its representations, warranties or
covenants under the Transaction Documents. The indemnification required by this Section 4.6 shall be made by periodic payments
of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity
agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company
or others and any liabilities the Company may be subject to pursuant to law.

 

4.7         Reservation
and Listing of Securities.

 

(a)          The
Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Transaction Documents
in such amount as may then be required to fulfill its obligations in full under the Transaction Documents, but not less than the
Required Minimum.

 

(b)          If,
on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required
Minimum on such date, then the Board of Directors shall amend the Company’s certificate or articles of incorporation to increase
the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible
and in any event not later than the 60’h day after such date. The Company may increase its authorized capital to 300,000,000
shares of Common Stock and 20,000,000 shares of blank check preferred stock; with no change in per share par value.

 

4.8           Form
D; Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation
D and to provide a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall
reasonably determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Purchasers
at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall provide
evidence of such actions promptly upon request of any Purchaser.

 

    	 	23	 

     

    

 

4.9         Subsequent
Equity Sales. Except in connection with the Securities offered in this Agreement or a Qualified Offering, without prior written
approval of a Majority in Interest, until the later to occur of: (i) a Going Public Event, and (ii) December 31, 2017 (“End
Date”), from the date hereof until the End Date, the Company will not, without the consent of a Majority in Interest,
enter into any Equity Line of Credit or similar agreement, nor issue nor agree to issue any common stock, floating or Variable
Priced Equity Linked Instruments nor any of the foregoing or equity with price reset rights (subject to adjustment for stock splits,
distributions, dividends, recapitalizations and the like) (collectively, the “Variable Rate Transaction”). For
purposes hereof, “Equity Line of Credit” shall include any transaction involviiw a written agreement between
the Company and an investor or underwriter ‘vhereby 111C Corn pan)’ has the right to “put” its securities
to the investor or underwriter over all agreed period of time and at an agreed price or price formula, and “Variable Priced
Equity Linked Instruments” shall include: (A) any debt Or equity securities which are convertible into, exercisable
or exchangeable for, or carry the right to receive additional shares of -Common Stock either (1) at any conversion,
exercise or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for Common Stock
at any time after the initial issuance of such debt or equity security, or (2) with a fixed conversion, exercise or exchange price
that is subject to being reset at sonic future date at any time afler the initial issuance or such debt or equity security clue
to a change in the market price of the Company’s Common Stock since date of initial issuance, and (13) any amortizing convertible
security which amortizes prior to its maturity date, where the Company is required or has the option to (or any investor in such
transaction has the option to require the Company to) make stlell alhodization payments in Shares or COMIllon Stock which are valued
at a price that is based upon and/or varies with the trading prices of or quotations for Common Stock at any time after the in
issuance or such debt or equity security (whether or not such payments in stock are subject to certain equity conditions). For
purposes of determining the total consideration for a convertible instrument (including a right to purchase equity of-
the Company) issued, subject to an original issue or similar discount or which principal amount is directly or indirectly increased
after issuance, the consideration will be deemed to be the actual cash amount received by the Company in consideration of the original
issuance of such convertible instrument.

 

4.10       Equal
Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid
to any Person to amend or consent to a waiver or modification of ally provision or any of the Transaction Documents or Prior Offering
Transaction Documents unless the same Or substantially similar consideration is also offered, nutiods mutandis, on a ratable
basis to all of the parties to this Agreement and the Prior Offering Securities Purchase Agreement. For clarification purposes,
this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Pin-chaser,
and is intended for the COITipaay to treat the Purchasers as a class and shall not in any way be construed as the Purchasers acting
in concert or as a group with respect to the purchase, disposition or voting of Securities or otherwise.

 

4.11       Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require
the registration under the Securities Act of the sale or the Securities.

 

4.12       Maintenance
of Property and Insurance. Until the End Date, the Company shall keep all of its property, which is necessary or useful
to the conduct of its business, in good working order and condition, ordinary wear and tear excepted. Until the End Date, the Company
will maintain insurance coverage or the type and not less than the ainount in effect as or the Closing Date.

 

4.13       Going
Public Event. On or before the Public Company Date, the Company (i) will, subject to the approval or a Majority in Interest,
consummate a merger or business combination with a company that has a class of equity subject to I he reporting requirements or
Section 13 or 15(d) under the Exchange Act, or (ii) file a registration statement on Form S-1 or Form I 0, for the purpose of having
the class or Common Stock comprising the Underlying Shares subject to the reporting requirements of Section III or 15(d) under
the Exchange Act. The Company having the same class of equity as the Underlying Shares subject to the reporting requirements of
Section 13 or 15(d) is referred to herein as the “Going Public Event”. The Company will cause the Going Public
Event to occur on or before the Public Company Date.

 

    	 	24	 

     

    

 

4.14       Preservation
of Corporate Existence. Until the End Date, the Company shall preserve and maintain its corporate existence, rights, privileges
and franchises in the jurisdiction of its incorporation, and qualify and remain qualified, as a foreign corporation in each jurisdiction
in which such qualification is necessary in view of its business or operations and where the failure to qualify or remain qualified
might reasonably have a Material Adverse Effect upon the financial condition, business or operations of the Company taken as a
whole.

 

4.15       Shareholder
Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any
Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company,
or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities
under the Transaction Documents.

 

4.16       Reimbursement.
If any Purchaser becomes involved in any capacity in any Proceeding by or against any Person who is a stockholder of the Company
(except as a result of sales, pledges, margin sales and similar transactions by such Purchaser to or with any current stockholder),
solely as a result of such Purchaser’s acquisition of the Securities under this Agreement, the Company will reimburse such
Purchaser for its reasonable legal and other expenses (including the cost of any investigation preparation and travel in connection
therewith) incurred in connection therewith, as such expenses are incurred. The reimbursement obligations of the Company under
this paragraph shall be in addition to any liability which the Company may otherwise have, shall extend upon the same terms and
conditions to any Affiliates of the Purchasers who are actually named in such action, proceeding or investigation, and partners,
directors, agents, employees and controlling persons (if any), as the case may be, of the Purchasers and any such Affiliate, and
shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Company, the
Purchasers and any such Affiliate and any such Person. The Company also agrees that neither the Purchasers nor any such Affiliates,
partners, directors, agents, employees or controlling persons shall have any liability to the Company or any Person asserting claims
on behalf of or in right of the Company solely as a result of acquiring the Securities under this Agreement.

 

4.17       Security
Interest. The Prior Offering Purchasers were granted a security interest in assets of the Company pursuant to the Amended and
Restated Security Agreement. The Amended and Restated Security Agreement is hereby amended to include the Purchasers and the Company
agrees that the Purchasers are hereby made parties to the Amended and Restated Security Agreement as Secured Parties therein, the
Purchasers Notes and all amounts owing to them at any time derived from the Notes in the same manner as Obligations arising under
the Prior Notes are included in the definition “Obligations under the Amended and Restated Security Agreement, and their
interests in the Obligations are pad pasu in proportion to their specific Obligation amounts and of equal priority with the other
components of the Obligations. The Company will execute such other agreements, documents and financing statements reasonably requested
by the Purchasers and Collateral Agent under the Amended and Restated Security Agreement to memorialize and further protect the
security interest described herein, which will be filed at the Company’s expense with the jurisdictions, states and counties
designated by the Purchasers. The Company will also execute all such documents reasonably necessary in the opinion of Collateral
Agent to memorialize and further protect the security interest described herein. The Purchaser’s execution of this Agreement
shall be deemed to be such Purchaser’s execution, entry into an agreement to be bound by the Amended and Restated Security
Agreement as if such Purchaser executed the signature page thereto as of the date such Purchaser executed the signature page to
this Agreement.

 

    	 	25	 

     

    

 

ARTICLE V.

MISCELLANEOUS

 

5.1         Ter:nation.
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any
effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the
initial Closing has not been consummated on or before May 2, 2016, Cr any subsequent Closing prior to June 30, 2016; orovided,
however. that such termination will not affect the right of any party to sue for any breach by any other party (or parties).

 

5.2         Fees
and Exoenses. Except as expressly set forth on Schedule 3.1(r), each party shall pay the fees and expenses of its advisers,
counsel, accountants and other experts, if any, and all ether expenses incurred bv such parry incident to the negotiation;
preparation, execution, delivei-y and performance of this Agreement. The Company shall pay all Transfer Agent
fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Purchasers. The Company
agrees to pay pursuant to the Escrow Agreement reasonable legal and Escrow Agent fees of O&M, counsel to some of the Purchasers,
in the amount of S:0,000, incurred in connection with the negotiation, preparation, execution and delivery of the Transaction
Documents and initial Closing.

 

5.3         Entire
AEreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of
the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or
written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4         Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram; or facsimile, addressed as set forth below or to such other address as such party shall
have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following. such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business clay following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be: (i) if to the Company, to: Accelerated Pharma, Inc., 15W:55 SY’ Street, Burr
Ridge, IL 60527, Attn: Michael Fonstein, Chief Executive Officer, facsimile: (630)325-4179, with a copy by fax only to (which shall
not constitute notice): Randy Sahick, Esq., c/o Accelerated Pharma, Inc., :5W15.5 S ls’ Street, Burr Ridge, IL 60527, facsimile:
(630) 325-4:79; and (ii) if to the Purchasers, to: the addresses and fax numbers indicated on the signature pages hereto;
with an additional copy by fax only to (which shall not constitute notice): Crushiko & Mittman, P.C., 515 Rockaway Avenue,
Valley Stream, New York 1158: Attn: Edward NI. Grushko, Esq., facsimile: (212) 697-3575,

 

5.5         Amendments:
Waivers. Except with respect to the Prior Offering Security Agreement, no provision of this Agreement nor ar.),
other Transaction Document may be waived, modified, supplemented or amended nor consent obtained or approval deemed granted except
in a written instrument signed, in the case of an amendment, by the Company and the Purchasers holding at least a majority in interest
(“Mai oritv in interest”) of the component of the affected Securities then outstanding or, in the case of a
waiver, by the party against whont enforcement of any such waived provision is sought. No waiver of any default With respect to
any provision, condition or requirement of this Agreement nor any other Transaction Document shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement thereof;
nor shall any delay or omission of any party to exercise an’ right thereunder in any manner impair the exercise of any such
right. For purposes of determ’riing a Majority in Interest with respect to the Notes and Prior Offering Notes issued as of
May 8, 2015, June :1, 20:5 and November 6, 2015, the holders of the Notes and the Prior Notes issued as of Mav 3, 2015, June 11,
20:5 and November 6, 2015 shall be aggregated. A Majority in Interest with respect to the Prior Offering Security Agreement shall
mean a majority based on the Purchasers and Prior Offering Purchasers, in the aggregate.

 

    	 	26	 

     

    

 

5.6         Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or
affect any of the provisions hereof,

 

5.7         Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and :sermined
assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of
each Purchaser (other than by merger). Following the Closing, any Purchaser may assign, on ten (10) Business Day prior notice any
or all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Securities, provided that
such transferee agrees in writing to be bound with respect to the transferred Securities by the provisions of the Transaction Documents
that apply to the “Purchasers” and is able to make each and every representation made by Purchasers in this Agreement.
No assignment by a Purchaser will be allowed if the result would be an increase in the number of actual or beneficial owners of
the assigned securities.

 

5.3         No
Third-Pary Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise
set forth in Section 4.10.

 

5.9         Coverning
Law. All questions concernin:a the construction, validity, enforcement and interpretation offite Transaction Documents shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof except as to these matters which are required by the laws of the State of Delaware to be
governed by the laws of the State of Delaware. Each party agrees that all legal proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts siring in the City of New York, Borough of Manhattan for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to
the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any action, suit
or proceeding, any claim that it is not personally subject to thejurisdiction of any such court, that such suit, action or proceeding
is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence
an action or proceeCii:17. to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the
Company under Section 4.10, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for
its reasonable anorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of
such action or proceeding.

 

5.10       Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

 

    	 	27	 

     

    

 

5.11       Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it
being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a “.pdr format data file, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf’
signature page were an original thereof.

 

5.12       Severability.
If any term, provision, covenant or restriction of any Transaction Document is held by a court of competent jurisdiction to
be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13       Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser
may, at any time prior to the Company’s performance of such obligations, rescind or withdraw, in its sole discretion from
time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice
to its future actions and rights; provided however, that in the case of a rescission of a conversion of a Note or exercise
of a Warrant, the applicable Purchaser shall be required to return any shares of Common Stock subject to any such rescinded conversion
or exercise notice concurrently with the return to such Purchaser of the aggregate exercise price paid to the Company for such
shares and the restoration of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s Note or Warrant
(including, issuance of a replacement warrant certificate evidencing such restored right).

 

5.14       Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or
in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall
also pay any reasonable costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

5.15       Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each
of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the
Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.16       Payment
Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document
or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or
exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from,
disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person
under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action),
then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

    	 	28	 

     

    

 

5.17       Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim,
and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at
any time hereafter in force, in connection with any claim, action or proceeding that may be brought by any Purchaser in order to
enforce any right or remedy under any Transaction Document Notwithstanding any provision to the contrary contained in any Transaction
Document, it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments
in the nature of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”),
and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated
with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such
Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Transaction Documents
is increased or decreased by statute or any official governmental action subsequent to the date hereof, the new maximum contract
rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date thereof
forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of the
Maximum Rate is paid by the Company to any Purchaser with respect to indebtedness evidenced by the Transaction Documents, such
excess shall be applied by such Purchaser to the unpaid principal balance of any such indebtedness or be refunded to the Company,
the manner of handling such excess to be at such Purchaser’s election.

 

5.18       Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any
other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights, including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose. Each Purchaser has been represented by its own separate
legal counsel in its review and negotiation of the Transaction Documents. The Company has elected to provide all Purchasers with
the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do
so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this Agreement and in each
other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively
and not between and among the Purchasers.

 

5.19       Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

5.20       Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices and shares of Common Stock in any Transaction Document snail be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after
the date of this Agreement.

 

    	 	29	 

     

    

 

5.21       WAIVER
OF :WRY TRULL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

5.22       Ecuitable
Ad I usztnent. Trading volume amounts, price/volume amounts and similar figures in the Transaction Documents shall be equitably
adjusted (but without duplication) to offset the effect of stock splits, similar events and as otherwise described in this Agreement
and Warrants.

 

(Signature Pages Icollalt)

 

    	 	30	 

     

    

  

IN WITNESS WHEREOF, the parties hereto have
caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

	ACCELERATED PHARMA, INC.	Address for Notice:
	 	 
	 	15W155 81st Street
	 	Burr Ridge, IL 60527
	 	Fax: (630) 325-4179

 

	By:	/s/ Michael Fonstein	 	 
	 	Name: Michael Fonstein	 	 
	 	Title: Chief Executive Officer	 	 

 

With a copy to (which shall not constitute notice):

 

Randy Saluck, Esq.

c/o Mortar Rock Capital

767 Third Avenue, 11th Floor

New York, NY 10017

Fax: (212) 308-3625

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    	 	31

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