Document:

EX-10.1

 EXHIBIT 10.1 

Certain identified information has been marked in the exhibit because it is both (i) not material and 

(ii) would likely cause competitive harm to the Company, if publicly disclosed. 

Double asterisks denote omissions. 

FIRST AMENDMENT to the COLLABORATION AND LICENSE AGREEMENT 

This First Amendment (the “First Amendment”) to the Collaboration and License Agreement with an Execution Date of June 8th, 2018 (the
“Agreement”) is made by and between Translate Bio MA, Inc., with offices at 29 Hartwell Ave, Lexington, MA 02421, USA., a corporation registered under the laws of the State of Delaware (“Translate Bio” or “TB”) and
Sanofi Pasteur Inc., a company incorporated under the laws of the state of Delaware, with offices at Discovery Drive, Swiftwater, PA 18370 USA (“Sanofi”). Capitalized terms used and not defined herein shall have the respective meanings
ascribed to them in the Agreement. 
 WHEREAS: 
  

	 	1.	 On March 11, 2020, the World Health Organization declared a global pandemic of SARS-CoV-2 a novel virus which causes COVID19 disease (the “SARS-CoV-2 Pandemic”).

  

	 	2.	 In view of the SARS-CoV-2
Pandemic, Translate Bio as a leading mRNA therapeutics company and Sanofi as the world’s leading supplier of vaccines against influenza have been discussing expanding their existing collaboration under the Agreement in order to discover,
research and conduct testing for mRNA-based vaccines against SARS-CoV-2 with an aim of helping to address the SARS-CoV-2 Pandemic. With this aim in mind, each of Translate Bio and Sanofi is willing to enter into this First Amendment relating to the field of vaccines against SARS-CoV-2 as set forth below. 

 NOW, THEREFORE, in consideration of the
premises and the mutual promises set forth herein, and intending to be legally bound, the Parties agree as follows: 
  

	 	1.	 Article 1 Definitions, is hereby amended as follows: 

 

	 	(a)	 Section 1.11 (Collaboration Budget) is hereby deleted and replaced in its entirety as follows:

 “Collaboration Budget” means the budget prepared jointly by the Parties to reflect
the costs of the Translate Bio Collaboration Activities set forth in the Collaboration Plan, which shall consist of (a) FTE Costs to be reimbursed by Sanofi in accordance with Section 7.1 (Collaboration Funding), (b) Out-Of-Pocket Costs, and (c) Manufacturing Costs incurred by Translate Bio for the Translate Bio Collaboration Activities, which shall be funded by Sanofi in accordance
with Section 7.1 (Collaboration Funding). An initial Collaboration Budget is attached hereto as Schedule 1.11 (Collaboration Budget). The Parties shall update the Collaboration Budget annually in accordance with Section 3.1.2. Notwithstanding
the foregoing, the Parties agree that the Collaboration Budget for the Licensed Field of SARS-CoV-2 shall reflect the costs of the Translate Bio Collaboration Activities
directed to SARS-CoV-2 set forth in the Collaboration Plan and the Sanofi Collaboration Activities directed to SARS-CoV-2 set forth in the Collaboration Plan, including each Party’s FTE Costs and Out-Of-Pocket Costs. 

 

	 	(b)	 Section 1.12 (Collaboration Plan) is hereby deleted and replaced in its entirety as follows:

 “Collaboration Plan” means (a) with
respect to Products in each Licensed Field, the plans for the execution of certain research, development, regulatory and manufacturing activities which the Parties have allocated between them with respect to such Products in such Licensed Field
during the Collaboration Term as described in Parts 2 through 4 of Schedule 1.12, and also (b) with respect to activities directed to [**] for vaccines which activities are directed to Products in the Licensed Fields but not
specific to Products in any particular Licensed Field and such other activities as described in Part 1 of Schedule 1.12 (“Vaccine Platform Development”), which plan provides for the execution of such activities
which the Parties have allocated between them during the Collaboration Term. An initial Collaboration Plan for each Licensed Field and for the Vaccine Platform Development is attached hereto as Schedule 1.12 (Collaboration Plan). The Parties shall
update the Collaboration Plans annually in accordance with Section 3.1.2.2. Notwithstanding the foregoing, the Parties agree that the Collaboration Plan for the Licensed Field of SARS-CoV-2 shall be limited to discovery and pre-clinical research and any responsibilities to conduct activities directed to clinical development or commercialization
of a Product directed to SARS-CoV-2 shall be by mutual agreement of the Parties in a separate amendment to the Agreement. 

 

	 	(c)	 Section 1.19 (Commercially Reasonable Efforts) is hereby deleted and replaced
in its entirety as follows: 

 “Commercially Reasonable Efforts” means (a) with
respect to Sanofi, on a market-by- market basis for a given Product, that measure of efforts, consistent with [**]; and (b) with respect to Translate Bio, that
measure of efforts and resources, consistent with [**]. Notwithstanding the foregoing in this Section 1.19, the term Commercially Reasonable Efforts, shall with respect to Sanofi mean with respect to a Product directed to SARS-CoV-2, that measure of efforts, consistent with [**]. 
  

	 	(d)	 Section 1.49 (Licensed Field) is hereby deleted and replaced in its entirety as follows:

 “Licensed Field” means [**] Influenza virus [**] SARS-CoV-2, [**] Influenza virus, [**] 

SARS-CoV-2 [**]. 

 

	 	(e)	 A new Section 1.115
(SARS-CoV-2) is hereby added to the Agreement. 

“SARS-CoV-2” has the meaning
set forth in the Preamble of the First Amendment.” 
  

	 	(f)	 A new Section 1.116
(SARS-CoV-2 Pandemic) is hereby added to the Agreement. 

“SARS-CoV-2 Pandemic” has
the meaning set forth in the Preamble of the First Amendment.” 
  

	 	(g)	 A new Section 1.117 (COVID19) is hereby added to the Agreement. 

“COVID19” means the disease in humans caused by SARS-CoV-2.” 
  

	 	(h)	 A new Section 1.118 (Pandemic) is hereby added to the Agreement. 

“Pandemic” means an outbreak of a disease that occurs over a wide geographic area and affects a large
proportion of people in such area.” 
  

	 	(i)	 A new Section 1.119 (Pandemic Product) is hereby added to the Agreement. 

“Pandemic Product” means a Product (i) which is indicated for the prevention of COVID19 for which a
Pandemic has been declared by a Governmental Authority and (ii) for which the purchaser of such Product is a Governmental Authority that is purchasing the Product for the Pandemic, including but not limited to for stockpiling, emergency use,
humanitarian donations and other circumstances, other than for sales in the ordinary course of business. A Product shall be deemed a Pandemic Product for so long as these two criteria are met.” 

 

	 	2.	 Section 2.3 (Governance) is hereby amended by adding a new Section 2.3.4 as follows:

 “The Parties agree that the execution of the
SARS-CoV-2 Collaboration Plan shall be carried out by their personnel having appropriate expertise and knowledge, however a JPT will not need to be formed for such
activities. The Parties intend that the performance of their respective Collaboration activities directed to SARS-CoV-2 will not interfere or distract from the
performance of the Collaboration activities directed to the other Licensed Fields or Technology and Process Transfer activities.” 
  

	 	3.	 Section 3.2 (Collaboration Costs) is hereby deleted and replaced in its entirety as follows:

 “Collaboration Costs. The estimated costs for Translate Bio’s Collaboration
Activities will be as set forth in the applicable Collaboration Budget; provided, however, that Sanofi shall be responsible for paying FTE Costs, Out-of-Pocket Costs and
Manufacturing Costs up to [**] percent ([**]%) of such costs set forth in the applicable Collaboration Budget with respect to the Translate Bio Collaboration Activities. Any variation in excess of [**] percent ([**]%) of the Collaboration Budget
will require Sanofi’s express prior written consent. With respect to Collaboration Activities directed to SARS-CoV-2, each Party shall bear its own FTE Costs and
[**]. 
  

	 	4.	 Section 7.1 (Collaboration Funding) is hereby deleted and replaced in its entirety as follows:

 “Collaboration Funding. In consideration of the performance by Translate Bio of the Translate Bio Collaboration
Activities in the Collaboration, Sanofi shall pay Translate Bio the agreed sum set out in the Collaboration Budget for each of (a) FTE Costs,
(b) Out-Of-

 
Pocket Costs, and (c) Manufacturing Costs. Each of FTE Costs, Out-Of-Pocket Costs or Manufacturing Costs is a
“Cost Category”) which shall be accounted for separately by Translate Bio and in no event shall Translate Bio include costs or expenses from one such Cost Category in another such Cost Category. In the event that the Collaboration Budget
or Supply Agreement includes certain Out-of-Pocket Costs or Manufacturing Costs which Translate Bio is [**], Sanofi shall [**] the full amount of those Out-of-Pocket Costs and Manufacturing Costs to Translate Bio. Notwithstanding the foregoing, the Parties agree that each of them shall bear their own FTE Costs and [**]
incurred in the performance of their respective Collaboration activities directed to SARS-CoV-2 as set out in the Collaboration Budget. 

 

	 	5.	 The Parties agree that no upfront fee is payable by Sanofi to Translate Bio with respect to the license granted
in the Licensed Field of SARS-CoV-2. 

  

	 	6.	 The Parties agree that Section 7.4 (Milestones) shall not apply to any Pandemic Product.

  

	 	7.	 The Parties agree that Section 7.5 (Royalties and Royalty Reductions), Section 7.6 (Royalty Stacking)
and Section 7.7 (Fully-Paid-Up License) shall not apply to any Pandemic Products and the Parties will negotiate in good faith royalty terms to apply to Pandemic Products, which shall reflect the economic
conditions applicable to commercializing such Pandemic Product, and in no event will the royalty terms applicable to any Pandemic Product be higher than those set out in Section 7.5 (Royalties and Royalty Reductions), Section 7.6 (Royalty
Stacking) and Section 7.7 (Fully-Paid-Up License for Products which are not Pandemic Products. 

  

	 	8.	 Section 13.10 (Press Releases) is hereby amended by adding a new Section 13.10.1 as follows:

 “Translate Bio and/or Sanofi may announce the inclusion of SARS-CoV-2 as a Licensed Field in the Agreement in a press release in the form attached hereto as Schedule 13.10.1 (SARS-CoV-2
Press Releases). In addition, Translate Bio and/or Sanofi may issue additional press releases concerning their Collaboration activities directed to SARS-CoV-2, provided
that a draft of any such press release shall be delivered to the other Party at least [**] in advance, and the receiving Party shall not unreasonably withhold its consent to the issuance of such press release. Notwithstanding the foregoing, any
Party may issue a press release regarding their respective Collaboration activities directed to SARS- CoV-2 if such disclosure is required by applicable Law or the rules of the US Securities and Exchange
Commission (SEC) or any securities exchange, as reasonably advised by the disclosing Party’s counsel.” 
  

	 	9.	 Section 13.11 Publications is hereby amended by adding a new Section 13.11.4 as follows:

 “Notwithstanding Section 13.11,1 and 13.11.2, the Parties recognize the importance of contributing to the
field of SARS-CoV-2 research rapidly and therefore the Parties have agreed to use the following expedited review process with respect to any proposed Publication of
results arising from their SARS-CoV-2 Collaboration Activities. A Party wishing to submit a Publication shall provide the other Party with a draft of such Publication at
least [**] in advance of the planned date of submission to enable the other Party to consider its impact on its business. A Party that receives a draft Publication from the other Party under this Section 13.11.4 shall not unreasonably withhold
its consent to the submission of the Publication.” 
  

	 	10.	 Schedule 1.11 (Collaboration Budget) is hereby amended by adding to such budget the separate Collaboration
Budget for SARS-Cov-2 attached hereto as Schedule 1.11(A). 

  

	 	11.	 Schedule 1.12 (Collaboration Plan) is hereby amended by adding to such plan the separate Collaboration Plan for
SARS-Cov-2 attached hereto as Schedule 1.12(A). 

	 	12.	 Section 16.6 (Termination for Material Breach) is hereby amended by adding a new Section 16.6.3 as
follows: 

 “Notwithstanding Sections 16.6.1 or 16.6.2, if (i) despite good faith negotiations,
the Parties are unable to mutually agree in a separate amendment to their respective commitments and responsibilities to conduct activities directed to clinical development and commercialization of a Product directed to SARS-CoV-2, or (ii) Sanofi is in breach of its material obligations with regard to Collaboration activities solely directed to SARS-CoV-2, Translate Bio shall have the right to terminate and revoke the license granted herein solely with respect to the Licensed Field of
SARS-CoV-2 on sixty (60) days written notice to Sanofi. Upon such termination and revocation by Translate Bio, (i) the Licensed
Field of SARS-CoV-2 shall cease to be a Licensed Field and shall be a Translate Bio Field and (ii) the Parties shall negotiate in good faith a
termination agreement with respect to Translate Bio’s use of any Sanofi Collaboration Technology or jointly-owned Collaboration Technology, that is necessary or useful to the further development or commercialization of a Product directed to SARS-Co-V-2. 
  

	 	13.	 Section 16.6 (Termination for Material Breach) is hereby amended by adding a new Section 16.6.4 as
follows: 

 “Notwithstanding Section 16.6.1 or 16.6.2 or 16.6.3, Translate Bio shall not have the right to
terminate Sanofi’s rights granted herein with respect to any Licensed Field other than SARS-Cov-2 in the event of a material breach by Sanofi of its material
obligations with regard to SARS-Cov-2.” 
  

	 	14.	 This First Amendment amends the Agreement solely to the extent expressly provided below as of the First
Amendment Effective Date. In all other respects, the Agreement continues in full force and effect and is ratified in all respects. Any references in the Agreement to the “Agreement” will be deemed to mean the Agreement as amended by this
First Amendment. The provisions of the Agreement apply to this First Amendment except to the extent this First Amendment amends any such provisions. If there is a conflict between the provisions of this First Amendment and the Agreement, the
provisions of this First Amendment control. 

  

	 	15.	 This First Amendment shall become effective as of March 24, 2020 (the “First Amendment Effective
Date”). 

  

	 	16.	 Section 17.4 (Dispute Resolution) is hereby deleted and replaced in its entirety as follows:

 “The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or
claim arising from or related to this Agreement or the breach hereof. If the Parties do not fully settle each such dispute, controversy or claim, and a Party wishes to pursue the matter, then: 

 

	 	(a)	 In respect of any dispute concerning the validity of a Party’s intellectual property rights, each Party
may assert any remedy available at law or equity to enforce its rights under this Agreement before a court of competent jurisdiction; 

  

	 	(b)	 In respect of any dispute regarding inventorship or ownership of Collaboration Technology, in accordance
with the process set forth in Section 10.1; and 

  

	 	(c)	 In respect of any dispute concerning whether a Product is or is not a Pandemic Product, the Parties shall
refer the dispute to an expert having experience in vaccine commercialization in public and private markets; and 

  

	 	(d)	 In respect of all matters other than any dispute concerning (i) the validity of a Party’s

	 	
intellectual property rights or the inventorship or ownership of Collaboration Technology, or (ii) whether a Product is or is not a Pandemic Product, including for example disputes regarding
the existence, interpretation, validity or termination of this Agreement, the Parties agree to submit to binding arbitration in accordance with Schedule 17.4 (Binding Arbitration Procedure).” 

 

	 	17.	 This First Amendment may be executed in counterparts with the same effect as if both Parties had signed the
same document. All such counterparts will be deemed an original, will be construed together and will constitute one and the same instrument. This First Amendment may be executed using Adobe Sign or other validated
e-signature platform or other electronic means (such as in portable document format (PDF)) without affecting the validity thereof. 

IN WITNESS WHEREOF, the Parties have executed this First Amendment to the Collaboration and License Agreement effective as of the First Amendment
Effective Date. 
  

									
	Translate Bio MA, Inc.	 		 	Sanofi Pasteur Inc.
					
	By:	 	/s/ Ronald C. Renaud, Jr.	 		 	By:	 	/s/ John Shiver
	 Name:
 Title:
	 	 Ronald Renaud
 President and CEO
	 		 	 Name:
 Title:
	 	 John Shiver
 Senior Vice President,
R&D

 Schedule 1.11(A) (Collaboration Budget—SARS-Cov-2) 
  

									
	USD	 	 	        TB        	 	 	 	        Sanofi        	 
	 [**]
	 	 	[**]	 	 			
	 [**]
	 				 	 	[**]	 
	 [**]
	 				 	 	[**]	 
	 [**]
	 				 	 	[**]	 
	Total	 	 	$[**]	 
	[**]vtvt-ex101_183.htm

Exhibit 10.1

SeCOND amendment of VENTURE LOAN AND SECURITY AGREEMENT 

 

This SECOND AMENDMENT OF VENTURE LOAN AND SECURITY AGREEMENT (this “Agreement”), dated as of April 1, 2020, is entered into by and among vTv THERAPEUTICS INC. (“VTV INC”), vTv THERAPEUTICS LLC (“VTV LLC” and collectively with VTV INC, “Co-Borrowers”), HORIZON FUNDING TRUST 2019-1 (“Horizon Trust”), as assignee of HORIZON TECHNOLOGY FINANCE CORPORATION (“Horizon”), SILICON VALLEY BANK, (“SVB”, and collectively with Horizon Trust “Lenders”) and Horizon as Collateral Agent.

RECITALS

	
A.
	
Co-Borrowers, Lenders and Collateral Agent are parties to a certain Venture Loan and Security Agreement dated as of October 28, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”) pursuant to which, among other things, (i) Horizon provided a loan to Co-Borrowers as evidenced by a certain Secured Promissory Note (Loan A) executed by Co-Borrowers in favor of Horizon, dated October 28, 2016, in the original principal amount of Six Million Two Hundred Fifty Thousand and 00/100 Dollars ($6,250,000.00) (“Loan A Note”), (ii) SVB provided a loan to Co-Borrowers as evidenced by a certain Secured Promissory Note (Loan B) executed by Co-Borrowers in favor of SVB dated October 28, 2016, in the original principal amount of Six Million Two Hundred Fifty Thousand and 00/100 Dollars ($6,250,000.00) (“Loan B Note”), (iii) Horizon provided a loan to Co-Borrowers as evidenced by a certain Secured Promissory Note (Loan C) executed by Co-Borrowers in favor of Horizon, dated March 24, 2017, in the original principal amount of Three Million Seven Hundred Fifty Thousand and 00/100 Dollars ($3,750,000.00) (“Loan C Note”), (iv) SVB provided a loan to Co-Borrowers as evidenced by a certain Secured Promissory Note (Loan D) executed by Co-Borrowers in favor of SVB, dated March 24, 2017, in the original principal amount of Three Million Seven Hundred Fifty Thousand and 00/100 Dollars ($3,750,000.00) (“Loan D Note” and collectively with the Loan A Note, the Loan B Note and the Loan C Note, the “Notes”) and (v) Lenders and Horizon have been granted a security interest in all assets of the Co-Borrowers.

	
B.
	
Horizon assigned all of its right, title and interest in and to the Loan A Note and the Loan C Note to Horizon Funding 2019-1 LLC pursuant to that certain Assignment dated as of August 13, 2019. 

C.Horizon Funding 2019-1 LLC assigned all of its right, title and interest in and to the Loan A Note and the Loan C Note to Horizon Trust pursuant to that certain Assignment dated as of August 13, 2019. 

	
D.
	
Co-Borrowers have now requested that Lenders revise the repayment schedule of the Notes.

	
E.
	
Lenders are willing to grant such request, but only to the extent, and in accordance with the terms, and subject to the conditions, set forth herein.

 

agreement

NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Co-Borrowers, Lenders and Horizon hereby agree as follows:

1.Definitions; Interpretation.  Unless otherwise defined herein, all capitalized terms used herein and defined in the Loan Agreement shall have the respective meanings given to those terms in the Loan Agreement.  Other rules of construction set forth in the Loan Agreement, to the extent not inconsistent with this Agreement, apply to this Agreement and are hereby incorporated by reference.

2.Confirmation.  Each Co-Borrower hereby acknowledges and agrees that: (i) the Loan Agreement sets forth the legal, valid, binding and continuing obligations of such Co-Borrower to Lenders, (ii) the Obligations to Lenders under the Loan Agreement are secured by validly perfected security interests in all assets of such Co-Borrower, the effectiveness and validity of which are hereby confirmed and (iii) no Co-Borrower has any cause of action, claim, defense or set-off against any Lender or any of their respective affiliates and subsidiaries, officers, directors, employees, shareholders, agents and representatives (“Related Parties”) in any way regarding or relating to the Loan Agreement or such Lender’s or their respective Related Parties’ actions thereunder and to the extent any such cause of action, claim, defense or set-off ever existed, whether foreseen or unforeseen, it is waived and such Lender and their respective Related Parties are released from any such causes of action, claims, defenses or rights of set-off of each Co-Borrower.

3.Amendments to Loan Agreement. 

	
 
	
(a)
	
Co-Borrowers and Lenders hereby agree that the definition of “Maturity Date” appearing in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and is replaced with the following:

““Maturity Date” means, (a) with respect to Loan A and Loan B, August 1, 2020, and (b) with respect to Loan C and Loan D, January 1, 2021, or if earlier, the date of acceleration of such Loan following an Event of Default or the date of prepayment, whichever is applicable.” 

	
 
	
(b)
	
Co-Borrowers and Lenders hereby agree that Section 2.2(a) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

“(a) Scheduled Payments.  Co-Borrowers shall make a payment of accrued interest and principal in repayment of each Loan in the amounts and on the Payment Dates as set forth in the Note applicable to such Loan (collectively, the “Scheduled Payments”). Co-Borrowers shall make such Scheduled Payments commencing on the date set forth in the Note applicable to such Loan and continuing thereafter on the first Business Day of each calendar month (each a “Payment Date”) through the Maturity Date applicable to such Loan. In any event, all unpaid principal and accrued interest on each Loan shall be due and payable in full on the Maturity Date applicable to each Loan.” 

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(c)
	
Co-Borrowers and Lender hereby agree that Section 2.2(g) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

	
“(g)
	
Final Payment. 

(i)Loan A Final Payment. Co-Borrowers shall pay to Horizon a payment in the amount of Three Hundred Seventy Five Thousand Dollars ($375,000) (the “Loan A Final Payment”) upon the earlier of (A) payment in full of the principal balance of Loan A, (B) an Event of Default and demand by any Lender of payment in full of Loan A or (C) the Maturity Date applicable to Loan A, as applicable.

(ii) Loan B Final Payment. Co-Borrowers shall pay to SVB a payment in the amount of Three Hundred Seventy Five Thousand Dollars ($375,000) (the “Loan B Final Payment”) upon the earlier of (A) payment in full of the principal balance of Loan B, (B) an Event of Default and demand by any Lender of payment in full of Loan B or (C) the Maturity Date applicable to Loan B, as applicable.

(iii)Loan C Final Payment. Co-Borrowers shall pay to Horizon a payment in the amount of Three Hundred Eighteen Thousand Seven Hundred Fifty Dollars ($318,750) (the “Loan C Final Payment”) upon the earlier of (A) payment in full of the principal balance of Loan C, (B) an Event of Default and demand by any Lender of payment in full of Loan C or (C) the Maturity Date applicable to Loan C, as applicable.

(iv)Loan D Final Payment. Co-Borrowers shall pay to SVB a payment in the amount of Three Hundred Eighteen Thousand Seven Hundred Fifty Dollars ($318,750) (the “Loan D Final Payment”) upon the earlier of (A) payment in full of the principal balance of Loan D, (B) an Event of Default and demand by any Lender of payment in full of Loan D or (C) the Maturity Date applicable to Loan D, as applicable.

All final payments under this subsection (g) shall be fully earned as of April 1, 2020, constitute a portion of the Obligations, and be secured by all Collateral.”

	
 
	
(d)
	
Co-Borrowers and Lenders hereby agree that Section 6.15 of the Loan Agreement shall be deleted in its entirety and replaced with the following:

“6.15 Minimum Cash Covenant.  

	
 
	
(a)
	
Co-Borrowers shall, during the period commencing as of December 20, 2017 and continuing through March 31, 2020, maintain at all times not less than Two Million Five Hundred Thousand and 00/100 Dollars ($2,500,000.00) in the aggregate on deposit in deposit accounts subject to Account Control Agreements.

	
 
	
(b)
	
Co-Borrowers shall, during the period commencing on April 1, 2020 and continuing through June 30, 2020, not be required to maintain any specified 

- 3 -

 

 

	
 
		
amount of cash on deposit in deposit accounts subject to Account Control Agreements.

	
 
	
(c)
	
Co-Borrowers shall, during the period commencing on July 1, 2020 and continuing until the repayment in full of the Obligations, maintain at all times aggregate cash on deposit in deposit accounts subject to Account Control Agreements in amounts equal to the lesser of (i) One Million Dollars ($1,000,000) or (ii) the then-current aggregate outstanding principal balance of all Loans.” 

4.Amended and Restated Notes. The Notes are hereby amended and restated in their entirety as set forth in Exhibit A attached hereto and made a part hereof (the “Amended and Restated Notes”).  All references to Note or Notes in the Loan Agreement and the other Loan Documents shall mean the Amended and Restated Notes.

5.Representations and Warranties.

	
 
	
(a)
	
At and as of the date of this Agreement and both prior to and after giving effect to this Agreement, each of the representations and warranties contained in the Loan Agreement is true and correct in all material respects (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date).

	
 
	
(b)
	
Each Co-Borrower has all necessary power and authority to execute, deliver, and perform in accordance with the terms thereof, this Agreement.  Each Co-Borrower has all requisite power and authority to own and operate its Property and to carry on its business as now conducted.

	
 
	
(c)
	
No Default or Event of Default has occurred under the Loan Agreement or the other Loan Documents and is continuing or will exist after giving effect to this Agreement.

6.Conditions to Effectiveness. Each Lender’s consent and agreement herein is expressly conditioned on the following:

	
 
	
(a)
	
Each Co-Borrower executing and delivering to Lenders a duly executed copy of this Agreement;

	
 
	
(b)
	
Each Co-Borrower executing and delivering to Lenders each original Amended and Restated Note;

	
 
	
(c)
	
Each of the representations and warranties made in this Agreement shall be true and correct on and as of the date hereof as if made on and as of such date, both before and after giving effect to this Agreement;

- 4 -

 

 

	
 
	
(d)
	
Co-Borrower’s payment of each Lender’s legal expenses incurred in connection with the drafting, negotiation and execution of this Agreement in an amount not to exceed Four Thousand Five Hundred Dollars ($4,500); and

	
 
	
(e)
	
No Default or Event of Default has occurred and is continuing.

7.Effect of Agreement.  On and after the date hereof, each reference to the Loan Agreement in the Loan Agreement or in any other document shall mean the Loan Agreement as amended by this Agreement.  Except as expressly provided hereunder, the execution, delivery and effectiveness of this Agreement shall not operate as a waiver of any right, power, or remedy of any Lender, nor constitute a waiver of any provision of the Loan Agreement.  Except to the limited extent expressly provided herein, nothing contained herein shall, or shall be construed to (nor shall the Co-Borrowers ever argue to the contrary) (i) modify the Loan Agreement or any other Loan Document (ii) modify, waive, impair, or affect any of the covenants, agreements, terms, and conditions thereof, or (iii) waive the due keeping, observance and/or performance thereof, each of which is hereby ratified and confirmed by the Co-Borrowers.  Except as amended above, the Loan Agreement remains in full force and effect.

8.Headings.  Headings in this Agreement are for convenience of reference only and are not part of the substance hereof.

9.Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York without reference to conflicts of law rules.

10.Counterparts.  This Agreement may be executed in any number of counterparts, including by electronic or facsimile transmission, each of which when so delivered shall be deemed an original, but all such counterparts taken together shall constitute but one and the same instrument.

11.Integration.  This Agreement and the Loan Documents constitute and contain the entire agreement of Co-Borrowers, Horizon and Lenders with respect to their respective subject matters, and supersede any and all prior agreements, correspondence and communications.

[Remainder of page intentionally left blank]

 

- 5 -

 

 

IN WITNESS WHEREOF, Co-Borrowers and Lenders have caused this SECOND AMENDMENT OF VENTURE LOAN AND SECURITY AGREEMENT to be executed as of the day and year first above written.

					
	
CO-BORROWER:
	
 
	
CO-BORROWER:

	
 
	
 
	
 
	
 
	
 

	
vTv THERAPEUTICS INC.
	
 
	
vTv THERAPEUTICS LLC

	
 
	
 
	
 
	
 
	
 

	
By:
	
/s/ Rudy C. Howard
	
 
	
By:
	
/s/ Rudy C. Howard

	
Name:
	
Rudy C. Howard
	
 
	
Name:
	
Rudy C. Howard

	
Title:
	
Chief Financial Officer
	
 
	
Title:
	
Chief Financial Officer

 

					
	
LENDER:
	
 
	
LENDER:

	
 
	
 
	
 
	
 
	
 

	
HORIZON FUNDING TRUST 2019-1

By: Horizon Technology Finance 

Corporation, its agent
	
 
	
SILICON VALLEY BANK

	
 
	
 
	
 
	
 
	
 

	
By:
	
/s/ Robert D. Pomeroy, Jr.
	
 
	
By:
	
/s/ Jocelyn Hartmann

	
Name:
	
Robert D. Pomeroy, Jr.
	
 
	
Name:
	
Jocelyn Hartmann

	
Title:
	
Chief Executive Officer
	
 
	
Title:
	
Director

 

					
	
COLLATERAL AGENT:
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
HORIZON TECHNOLOGY FINANCE CORPORATION
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
By:
	
/s/ Robert D. Pomeroy, Jr.
	
 
	
 
	
 

	
Name:
	
Robert D. Pomeroy, Jr.
	
 
	
 
	
 

	
Title:
	
Chief Executive Officer
	
 
	
 
	
 

 

 

[Signature page to Second Amendment of Venture Loan and Security Agreement]

 

EXHIBIT A

 

Amended and Restated Notes

 

(See attached)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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