Document:

GRID NOTE

Exhibit 10.13

DEMAND TD PROMISSORY NOTE

$150,000.00                   

      November 5, 2010

New York, New York  

FOR VALUE RECEIVED, the undersigned,
IASO PHARMA INC. (the “Borrower”) HEREBY PROMISES TO PAY to the order of ISRAEL DISCOUNT BANK OF
NEW YORK, its successors and assigns (hereinafter the “Bank”), the principal amount of ONE  HUNDRED
FIFTY THOUSAND DOLLARS ($150,000.00), in lawful money of the United States (the “Loan”), or the aggregate
unpaid principal amount of all revolving credit advances (hereinafter each being referred to as an “Advance” and
collectively, the “Advances”) made to Borrower, as set forth on Bank’s computer system on the Loan Enquiry
Page(s) (the “Loan Enquiry Page(s)”) ON DEMAND or on the maturity date of each such Advance as shown on the
Loan Enquiry Page(s), and in no event later than the Maturity Date, and to pay interest on the unpaid principal balance of this
Demand TD Promissory Note (this “Note”) in the manner and at the rate as hereinafter specified and such amounts due
hereunder.

Borrower acknowledges the continuing
availability of this line of credit is at all times subject to Bank’s sole and absolute discretion, and nothing in this Note or
any other documents relating to this Note, or the enumeration in this Note of specific events of default, conditions and/or
covenants shall be construed to qualify, define or otherwise limit Bank’s right, power, or ability, at any time, under
applicable law, to (a) cancel this line of credit without prior notice, (b) demand payment of the entire outstanding principal
amount, accrued interest and other fees and expenses due under this Note or (c) deny any extension of credit under this Note.
 Borrower agrees that Borrower's breach of or default under any enumerated obligations or conditions is not the only basis for
demand to be made or for a request for an extension of credit to be denied, as Borrower's obligation to make payment shall at all
times remain a demand obligation. Notwithstanding anything in this Note to the contrary, this Note does not create a commitment or
obligation to lend by Bank and Borrower acknowledges that Bank has no obligation to lend.

1.

Defined Terms.  As used in this Note the following terms shall have the following meanings:

The term “Additional Costs” shall have the meaning as defined in Section 17.

The terms “Advance” or “Advances” shall have the meanings as defined in the introductory paragraph.

The term “Bank” shall have the meaning as defined in the introductory paragraph.

The term “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended.

The term “Borrower” shall have the meaning as defined in the introductory paragraph.

The term “Business Day” shall mean any day other than a Saturday, Sunday, or other day on which commercial banks in New York are authorized or required to close under the laws of the State of New York.

The term “Collateral” or “Time Deposit” shall mean that certain Time Deposit(s) of Lindsay Rosenwald pledged by Lindsay Rosenwald to Bank, together with any replacements, renewals or extensions thereof.

The term “Default Interest Rate” shall have the meaning as defined in Section 4.

The term “Event of Default” shall mean any of the events or conditions specified in Section 12 hereof.

The term “Indebtedness”
shall mean all items of indebtedness, obligation or liability, whether matured or unmatured, liquidated or unliquidated, funded or
unfunded, direct or contingent, joint or several, which would properly be included in the liability section of a balance sheet or in
a footnote to a financial statement in accordance with generally accepted accounting principles, and shall also include (a) all
indebtedness guaranteed, directly or indirectly in any manner, or endorsed (other than for collection or deposit in the ordinary
course of business) or sold with recourse, (b) all indebtedness in effect guaranteed, directly or indirectly, through agreements,
contingent or otherwise, and (c) all indebtedness secured by (or for which the holder of such indebtedness has a right, contingent
or otherwise, to be secured by) any mortgage, deed of trust, pledge, assignment, lien, security interest or other charge or
encumbrance upon property owned or acquired subject thereto, whether or not the liabilities secured thereby have been assumed or
guaranteed.

The terms “Indemnified Party” or “Indemnified Parties” shall have the meanings as defined in Section 27.

The term “Interest” means the annual rate of interest payable on the outstanding Advances in accordance with Sections 3 and 4.

The term “Late Charge” shall have the meaning as defined in Section 10.

The term “Loan” shall have the meaning as defined in the introductory paragraph.

The term “Loan Documents” shall mean this Note and any other document, instrument or agreement and any amendments thereto, evidencing or securing the Obligations, or now or at any time hereafter executed, delivered or recorded in connection with the Obligations, any other note, any loan commitment, requisition, letter agreement, line of credit agreement, commercial financing agreement, security agreement, guaranty of payment, mortgage, deed of trust, pledge agreement, loan agreement, loan and security agreement, hypothecation agreement, indemnity agreement, letter of credit application and agreement, and assignment, all as amended, restated, extended, renewed, supplemented, modified or replaced from time to time.

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The term “Loan Enquiry Page(s)” shall have the meaning as defined in the introductory paragraph.

The term “Margin” shall mean one hundred basis points (100 bps).

The term “Maturity Date” shall mean 364 days after the date hereof.

The term “Minimum Advance” shall have the meaning as defined in Section 2(c).

The term “Note” shall mean this Demand TD Promissory Note. 

The term “Obligations”
shall mean all existing and future debts, liabilities and obligations of every kind or nature at any time owing by Borrower to Bank,
whether under this Note or under any other existing or future instrument, document or agreement, between Borrower and Bank, whether
joint or several, related or unrelated, primary or secondary, matured or contingent, due or to become due, including, without
limitation, the debts, liabilities and obligations in respect of this Note and any extensions, modifications, substitutions,
increases and renewals thereof.  Without limiting the generality of the foregoing, Obligations shall include any other loan,
advance or extension of credit, under any existing or future loan agreement, promissory note, or other instrument, document or
agreement either arising directly between Borrower and Bank or acquired out­right, conditionally or as collateral security from
another person or entity by Bank.

The term “Obligor” shall mean individually and collectively Borrower, each endorser and surety of this Note, any person who is primarily or secondarily liable for the repayment of this Note or any portion thereof (including without limitation each Guarantor), any person who has granted security for the repayment of the Note, together with such person’s heirs, personal representatives, successors and assigns.

2.

Principal and Interest.  

(a)

Interest shall be payable on the outstanding daily unpaid principal amount of each Advance from the date hereof until payment in full is made and shall accrue and be payable at the rates set forth or provided for herein, before and after default, before and after the Maturity Date, before and after judgment and before and after the commencement of any proceeding under the Bankruptcy Code, with interest on overdue interest to bear interest and to be compounded at the Default Interest Rate, in each case, to the fullest extent permitted by applicable laws.

(b)

Interest accrued on each Advance shall be due and payable in arrears on the first day of each calendar month commencing on the first day of the first full month following the date of such Advance and at maturity (whether as stated or by acceleration). Except as otherwise provided in Section 4, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal to the interest rate payable on the Time Deposit plus the Margin. 

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(c)

If not sooner paid, the unpaid principal amount of each Advance shall be due and payable on the date set forth on Bank’s Loan Enquiry Page(s) as the due date for such Advance.

(d)

Bank may act without liability upon the basis of telephonic notice believed by Bank in good faith to be from Borrower.  Borrower shall immediately confirm to Bank, in writing, each telephonic notice.  All Advances are made at Bank’s sole and absolute discretion and Bank may, at its option and in its sole and absolute discretion and without notice to the undersigned, decline to make any Advance requested by Borrower.  Borrower hereby expressly authorizes Bank to record in its computer system the amount and date of each Advance, the applicable rate of interest, the applicable Interest Period, the maturity date, and each payment of principal and interest thereon.  In the event of any discrepancy between any such notation by Bank and any records of Borrower, the records of Bank shall be controlling and conclusive.

(e)

All amounts due and owing hereunder shall be paid in full no later than the earlier of: (i) demand by Bank; (ii) Maturity Date; or (iii) the occurrence and continuation of an Event of Default.

(f)

Borrower shall utilize the Advances to refinance an existing line of credit.

3.

Default Rate.  At the option of the Bank, upon the occurrence and during the continuance of any Event of Default, and in any event if any installment of principal or interest or any fee or cost or other amount payable under this Note, or any other Loan Document, is not paid when due, the Obligations shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the rate otherwise applicable thereto plus five (5%) percent per annum (the “Default Interest Rate”), to the fullest extent permitted by applicable law.  Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be compounded monthly, on the last day of each calendar month, to the fullest extent permitted by applicable law.

4.

Computation of Interest and Fees.  

(a)

Computation of interest on the Loan and all fees under this Note shall be calculated on the basis of a year of 360 days and the actual number of days elapsed.  Borrower acknowledges that such latter calculation method will result in a higher yield to the Bank than a method based on a year of 365 or 366 days.

(b)

Under no circumstances or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Note exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto.  In the event that such court determines Bank has charged or received interest hereunder in excess of the highest applicable rate, Bank shall apply, in its sole discretion, and set off such excess interest received by Bank against other Obligations due or to become due and such rate shall automatically be reduced to the maximum rate permitted by such law.

5.

Manner and Treatment of Payments.  

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(a)

Each payment due on this Note, or under any other Loan Document, shall be made to Bank, at Bank’s office located at 511 Fifth Avenue, New York, New York 10017-4997, for the account of Bank, in immediately available funds not later than 3:00 p.m., New York local time, on the day of payment (which must be a Business Day).  All payments received after these deadlines shall be deemed received on the next succeeding Business Day.  All payments shall be made in lawful money of the United States of America.

(b)

Bank shall have the unconditional right and discretion (and Borrower hereby authorizes Bank) to charge Borrower’s operating and/or deposit account(s) for all of Borrower’s Obligations as they become due from time to time under this Note, or any other Loan Document, including, without limitation, interest, principal, fees, indemnification obligations and reimbursement of expenses.

(c)

Any payment due under this Note which is paid by check or draft shall be subject to the condition that any receipt issued therefore shall be ineffective unless and until the amount due is actually received by Bank.  Each payment received by Bank shall be applied as follows: first, to the payment of any and all costs, fees and expenses incurred by or payable to Bank in connection with the collection or enforcement of this Note; second, to the payment of all unpaid late charges (if any); third, to the payment of all accrued and unpaid interest hereunder; and fourth, to the payment of the unpaid principal balance of this Note, or in any other manner which Bank may, in its sole discretion, elect from time to time.

6.

Security Interest in Collateral.  

(a)

To secure payment to Bank and performance of the Obligations, Borrower hereby grants to Bank a continuing security interest in, a general lien upon and a right of set-off against the Collateral.

(b)

Borrower hereby authorizes Bank, at any time and from time to time, to file financing statements, continuation statements and amendments thereto under the Uniform Commercial Code naming Borrower as debtor and Bank as secured party and indicating therein the types or describing the items of Collateral herein specified.  Borrower will not, without the prior written consent of Bank, file or authorize or permit to be filed in any jurisdiction any such financing or like statement in which Bank is not named as the sole secured party covering the Collateral set forth herein.

(c)

Bank, at its discretion, whether any of the
Obligations be due may, in its name or in the name of Borrower or otherwise, demand, sue for, collect or receive any money or
property at any time payable or receivable on account of or in exchange for, or make any compromise or settlement deemed desirable
with respect to, any of the Collateral, but shall be under no obligation so to do, or Bank may extend the time of payment, arrange
for payment in installments, or otherwise modify the terms of, or release, any of the Collateral, without thereby incurring
responsibility to, or discharging or otherwise affecting any liability of Borrower.  Bank shall not be required to take any
steps necessary to preserve any rights of prior parties to any of the Collateral.  Upon default hereunder or in connection with
any of the Obligations (whether such default be that of Borrower or of any other party obligated thereon), Bank shall have the
rights and remedies provided by law and Bank may sell or cause to be sold in the Borough of Manhattan, New York City, or elsewhere, in one or more sales
or parcels, at such price as Bank 

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may deem best, and for cash or on credit or for future delivery, without assumption of any credit
risk, all or any of the Collateral, at any brokers’ board or at public or private sale, without demand of performance or notice
of intention to sell or of time or place of sale (except such notice as is required by applicable statute and cannot be waived), and
Bank or anyone else may be the purchaser of any or all of the Collateral so sold and thereafter hold the same, absolutely free from
any claim or right of whatsoever kind, including any equity of redemption, of Borrower, any such demand, notice or right and equity
being hereby waived and released.  Borrower will pay to Bank all reasonable out of pocket expenses (including reasonable
expense for legal services of every kind) of, or incidental to, the enforcement of any of the provisions hereof or of any of the
Obligations, or any actual or attempted sale, or any exchange, enforcement, collection, compromise or settlement of any of the
Collateral or receipt of the proceeds thereof, and for the care of the Collateral and defending or asserting the rights and claims
of Bank in respect thereof, by litigation or otherwise, including expense of insurance, and all such expenses shall be indebtedness
within the terms of this Note.  Bank, at any time, at its option, may apply the net cash receipts from the Collateral to the
payment of principal of and/or interest on any of the Obligations, whether or not then due, making proper rebate of interest or
discount.  Notwithstanding that Bank, whether in its own behalf and/or in behalf of another and/or of others, may continue to
hold Collateral and regardless of the value thereof, Borrower shall be and remain liable for the payment in full, principal and
interest, of any balance of the Obligations and expenses at any time unpaid.

7.

Right of Set-Off.  To secure payment of this Note and all other Obligations of Borrower to Bank, Borrower and any Obligor of this Note hereby grant Bank a continuing lien and/or right of set-off upon any and all deposit and/or operating accounts now or hereafter maintained with Bank, any and all securities and other property of Borrower and any Obligor and the proceeds thereof now or hereafter coming into the possession or control of Bank, hereby authorizing Bank, at any time, without prior notice, to appropriate and apply such deposits or the proceeds of the sale of such securities or other property to any such Obligations, although contingent and although unmatured, it being understood that Bank shall be under no obligation to effect any such appropriation and application.

8.

Repayment Extension.  If any payment of principal or interest shall be due on a Saturday, Sunday or any other day on which banking institutions in the State of New York are required or permitted to be closed, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of the payment of interest. 

9.

Late Charge.  Borrower shall unconditionally pay to Bank a late charge (the “Late Charge”) equal to the greater of (a) five (5%) percent of the payment then due or (b) $200.00, if any such payment in whole or in part is not received by Bank within ten (10) days after its due date.  The Late Charge is in addition to the Default Interest Rate, if applicable, and shall be payable together with the next payment due hereunder or, at Bank’s option, upon demand by Bank, provided, however, that if any such late charge is not recognized as liquidated damages for such delinquency, and if deemed to be interest in excess of the amount permitted by applicable law, Bank shall be entitled to collect a late charge only at the highest rate permitted by law, and any payment actually collected by Bank in excess of such lawful amount shall be deemed a payment in reduction of the
principal sum then outstanding, and shall be so applied.

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10.

Representations and Warranties.  Borrower represents and warrants to Bank that:

Existence and Qualification; Power - Borrower is a corporation or limited liability company duly formed, validly existing and in good standing under the laws of the state of its organization.  Borrower is duly qualified or registered to transact business and is in good standing in each jurisdiction in which the conduct of its business or the ownership or leasing of its properties makes such qualification or registration necessary.  Borrower has all requisite corporate power and/or other authority to conduct its business, to own and lease its properties and to execute and deliver this Note and each Loan Document to which it is a party and to perform its Obligations; 

Compliance with Laws - Borrower is in compliance with all laws, regulations and other legal requirements applicable to its business, has obtained all authorizations, consents, approvals, orders, licenses and permits from, and has accomplished (or obtained exemptions from) all filings, registrations and qualifications that are necessary for the transaction of its business;

Authority; Compliance With Other
Agreements and Instruments - the execution, delivery and performance by Borrower of this Note and the other Loan Documents to
which it is a party has been duly authorized by all necessary corporate, partnership or membership action, as applicable, and does
not and will not: (i) require any consent or approval not heretofore obtained of any manager, director, stockholder, member,
partner, security holder or creditor of such party; (ii) violate or conflict with any provision of Borrower’s partnership
agreement, articles of organization, operating agreement, articles of incorporation, charter, by-laws or other comparable
instruments; or (iii) result in a breach by Borrower or constitute a default by Borrower under, or cause or permit the acceleration
of any obligation owed under, any indenture or loan or credit agreement or any other contractual obligation to which Borrower is a
party or by which Borrower or any of its property is bound or affected;

Financial Statements - the financial statements of Borrower previously  furnished to Bank are complete and correct and fairly present the financial condition of Borrower through to the date for such fiscal period, and the result of Borrower’s operations as of the end of the most recent fiscal quarter reflect no material adverse change in the financial condition of Borrower;

No Default - no event has occurred and no event is continuing which with the giving of notice or the lapse of time or both would constitute an Event of Default;

Representations and Warranties - prior to the making of each Advance all representations and warranties contained herein, or the other Loan Documents, shall be true and correct and of the same force and effect as though such representations and warranties had been made as of the date of the making of such Advance.

Regulations T, U and X; Investment Company Act - no part of the proceeds of the Loan will be used to purchase or carry, or to extend credit to others for the purpose of purchasing or carrying, any margin stock within the meaning of Regulations T, U or X of the Board of 

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Governors of the Federal Reserve System.  Borrower is not or is not required to be registered as an “investment company” under the Investment Company Act of 1940; and

Patriot Act Compliance - Borrower is not involved in any activity, directly or indirectly, which would constitute a violation of applicable laws concerning money laundering, the funding of terrorism or similar activities.  No part of the proceeds of the Loan will be used to fund activities which would constitute a violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986, the United States International Money Laundering Abatement and Anti-terrorist Financing Act of 2001.

11.

Events of Default.  The occurrence of any one or more of the following events shall constitute an “Event of Default” under this Note:

Payments – if Borrower, or any other Obligor, fails to make any payment of principal or interest under the Obligations when such payment is due and payable; or 

Other Charges - if Borrower, or any other Obligor, fails to pay any other charges, fees, expenses or other monetary obligations owing to Bank arising out of or incurred in connection with this Note within five (5) Business Days after the date such payment is due and payable; or 

Particular Covenant Defaults - if Borrower fails to perform, comply with or observe any covenant or undertaking contained in any Loan Document and such failure continues for five (5) Business Days after the occurrence thereof; or 

Financial Information – if (i) any statement, report, financial statement, or certificate made or delivered by Borrower, or any other Obligor, to Bank is not true and correct in all material respect when made or delivered, (ii) the Borrower’s financial statements issued for the reported fiscal year materially deviate from the projected profit and loss statement provided by the Borrower to the Bank for such period; or (iii) otherwise fails to comply with such other requirement or covenants set forth in the line letter agreement executed contemporaneously herewith.

Warranties or Representations - if any warranty, representation or other statement by or on behalf of Borrower contained in or pursuant to this Note, the other Loan Documents or in any document, agreement or instrument furnished in compliance with, relating to, or in reference to this Note, is false, erroneous, or misleading in any material respect when made; or 

Agreements with Others - (i) if Borrower shall default beyond any grace period in the payment of principal or interest of any Indebtedness of Borrower; or (ii) if Borrower otherwise defaults under the terms of any such Indebtedness if the effect of such default is to enable the holder of such Indebtedness to accelerate the payment of Borrower’s obligations, which are the subject thereof, prior to the maturity date or prior to the regularly scheduled date of payment; or

Other Agreements with Bank - if any Obligor breaches or violates the terms of, or if a default occurs under, any other existing or future agreement (related or unrelated) (including, without limitation, the other Loan Documents) between any Obligor and Bank; or 

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Judgments - if any final judgment exceeding $50,000 for the payment of money (i) which is not fully and unconditionally covered by insurance or (ii) for which Borrower has not established a cash or cash equivalent reserve in the full amount of such judgment, shall be rendered by a court of record against Borrower and such judgment shall continue unsatisfied and in effect for a period of thirty (30) consecutive days without being vacated, discharged, satisfied or bonded pending appeal; or

Assignment for Benefit of Creditors, etc. - if Borrower makes or proposes in writing, an assignment for the benefit of creditors generally, offers a composition or extension to creditors, or makes or sends notice of an intended bulk sale of any business or assets now or hereafter owned or conducted by Borrower; or 

Bankruptcy, Dissolution, etc. - upon the commencement of any action for the dissolution or liquidation of Borrower, or the commencement of any proceeding to avoid any transaction entered into by Borrower, or the commencement of any case or proceeding for reorganization or liquidation of Borrower’s debts under the Bankruptcy Code or any other state or federal law, now or hereafter enacted for the relief of debtors, whether instituted by or against Borrower; provided however, that Borrower shall have twenty (20) Business Days to obtain the dismissal or discharge of involuntary proceedings filed against it, it being understood that during such twenty (20) Business Day period, Bank may seek adequate protection in any bankruptcy proceeding; or 

Receiver - upon the appointment of a receiver, liquidator, custodian, trustee or similar official or fiduciary for Borrower or for Borrower’s property; or 

Execution Process, etc. - the issuance of any execution or distraint process against any property of Borrower; or 

Termination of Business - if Borrower ceases any material portion of its business operations as presently conducted; or 

Investigations - any indication or evidence received by Bank that reasonably leads it to believe Borrower may have directly or indirectly been engaged in any type of activity which, would be reasonably likely to result in the forfeiture of any material property of Borrower to any governmental entity, federal, state or local; or

Liens - if any lien in favor of Bank shall cease to be valid, enforceable and perfected and prior to all other liens other than permitted liens; or

Concealment/Removal of Property - if Borrower, or any other Obligor, conceals, removes or permits to be concealed or removed any part of Borrower’s property with intent to hinder, delay, or defraud any of its creditors; or 

Fraudulent Conveyance - the making or suffering by Borrower, or any other Obligor, of a transfer of any property, which is fraudulent under the law of any applicable jurisdiction; or

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Security – if all or any part of any security granted by Borrower for the Obligations shall, in the sole discretion of Bank, have become unsatisfactory and Borrower fails upon demand of Bank to furnish such further security or to make payment on account of any of the Obligations as would be satisfactory to Bank; or

Material Adverse Effect – if there is any change in Borrower’s financial condition which, in Bank’s reasonable opinion, has or would be reasonably likely to have a material adverse effect with respect to (a) the assets, properties, financial condition, credit worthiness, business prospects, material agreements or results of business operations of Borrower, or (b) Borrower’s ability to pay the Obligations in accordance with the terms hereof, or (c) the validity or enforceability of this Note or any of the other Loan Documents or the rights and remedies of Bank hereunder or thereunder.

12.

Rights and Remedies upon Demand or
Default.  Upon demand or following the occurrence of an Event of Default hereunder, Bank, in Bank’s sole
discretion and without notice or demand to Borrower or any other Obligor, may: (a) declare the entire outstanding principal balance
of this Note, together with all accrued interest and all other sums due under this Note to be immediately due and payable, and the
same shall thereupon become immediately due and payable without presentment, demand or notice, which are hereby expressly waived (b)
exercise its right of set-off against any money, funds, credits or other property of any nature whatsoever of Borrower  or any
other Obligor now or at any time hereafter in the possession of, in transit to or from, under the control or custody of, or on
deposit with, Bank or any affiliate of Bank in any capacity whatsoever, including without limitation, any balance of any deposit
account and any credits with Bank or any affiliate of Bank; (c) terminate any outstanding commitments of Bank to Borrower or any
Obligor; and (d) liquidate the Time Deposit and apply the same in reduction of the Obligations, whether or not said Time Deposit is
matured or unmatured, and the Bank shall not be liable or in any way responsible to Borrower by reason of any early withdrawal or
similar penalties or charges imposed in connection therewith and (e)
exercise any or all rights, powers, and remedies provided for in the Loan Documents or now or hereafter existing at law, in equity,
by statute or otherwise.

13.

Remedies Cumulative.
 Each right, power and remedy of Bank hereunder, under the other Loan Documents or now or hereafter existing at law, in equity,
by statute or otherwise shall be cumulative and concurrent, and the exercise or the beginning of the exercise of any one or more of
them shall not preclude the simultaneous or later exercise by Bank of any or all such other rights, powers or remedies.  No
failure or delay by Bank to insist upon the strict performance of any one or more provisions of this Note or of the Loan Documents
or to exercise any right, power or remedy consequent upon a breach thereof or a default hereunder shall constitute a waiver thereof,
or preclude Bank from exercising any such other rights, powers or remedy.  By accepting full or partial payment after the due
date of any amount of principal or interest on this Note, or other amounts payable on demand, Bank shall not be deemed to have
waived the right either to require prompt payment when due and payable of all other amounts of principal or interest on this Note or
other amounts payable on demand, or to exercise any rights and remedies available to it in order to collect all such other amounts
due and payable under this Note.

14.

Intentionally Omitted.  

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15.

Intentionally Omitted.  

16.

Additional Costs.  If, as a result of any change in applicable law, regulation, guideline or order, or in the interpretation or application thereof by any governmental authority charged with the administration thereof, there shall be imposed upon or made applicable to Bank any reserve requirement against this Note or any other costs or assessments (hereinafter “Additional Costs”), Borrower shall pay to Bank, on demand (which demand shall be in writing and which will set forth a calculation of such Additional Costs), an amount sufficient to compensate Bank for such Additional Cost.  Bank’s calculation of the amount of such Additional Costs shall be presumed correct absent manifest error.

17.

Collection Expenses.  If
this Note is placed in the hands of an attorney for collection following the occurrence of an Event of Default hereunder, Borrower
agrees to pay to Bank upon demand costs and expenses, including all attorney’s fees and court costs, paid or incurred by Bank
in connection with the enforcement or collection of this Note (whether or not any action has been commenced by Bank to enforce or
collect this Note) or in successfully defending any counterclaim or other legal proceeding brought by Borrower contesting
Bank’s right collect the outstanding principal balance of this Note.  The obligation of Borrower to pay all such costs and
expenses shall not be merged into any judgment by confession against Borrower.  All of such costs and expenses shall bear
interest at the highest rate of Interest permitted under this Note from the date of payment by Bank until repaid in full by the
Obligor.

18.

Interest Rate after Judgment.  If judgment is entered against Borrower on this Note, the amount of the judgment entered (which may include principal, interest, fees and costs) shall bear interest at the higher of (i) the legal rate of interest then applicable to judgments in the jurisdiction in which judgment was entered, or (ii) if otherwise permitted by applicable law, the Default Interest Rate provided herein.

19.

Certain Waivers by Borrower.  Borrower waives demand, presentment, protest and notice of demand, of non-payment, of dishonor, and of protest of this Note.  Bank, without notice to or further consent of Borrower or any other Obligor and without in any respect compromising, impairing, releasing, lessening or affecting the obligations of Borrower hereunder or under of the Loan Documents, may: (a) release, surrender, waive, add, substitute, settle, exchange, compromises, modify, extend or grant indulgences with respect to (i) this Note, (ii) any of the Loan Documents, and/or (iii) all or any part of any collateral or security for this Note; and/or (iv) any Obligor; (b) complete any blank space in this Note according to the terms upon which the loan evidenced hereby is made; and (c) grant any extension or other postponements of the time of payment hereof.

20.

Choice of Law: Forum Selection:
Consent to Jurisdiction.  This Note shall be governed by, construed and interpreted in accordance with the laws of the
State of New York (excluding the choice of law rules thereof).  Borrower hereby irrevocably submits to the jurisdiction of any
New York court or federal court sitting in the State of New York in any action or proceeding arising out of or relating to this
Note, and hereby irrevocably waives any objection to the laying of venue of any such action or proceeding in any such court and any
claim that any such action or proceeding has been brought in an inconvenient forum.  A final judgment in any such action or
proceeding shall be conclusive and may be enforced in any other jurisdiction by suit on the judgment or in any other manner provided
by law.

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21.

Subsequent Holders.  In the event that any holder of this Note transfers this Note for value, Borrower agrees that except with respect to a subsequent holder with actual knowledge of a claim or defense, no subsequent holder of this Note shall be subject to any claims or defenses which Borrower may have against a prior holder (which claims or defenses are not waived as to prior holder), all of which are waived as to the subsequent holder, and that all such subsequent holders shall have all of the rights of a holder in due course with respect to Borrower even though the subsequent holder may not qualify, under applicable law, absent this paragraph, as a holder in due course.

22.

Invalidity of Any Part.  If any provision or part of any provision of this Note shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision (or any remaining part of any provision) of this Note, and this Note shall be construed as if such invalid, illegal or unenforceable provision (or part thereof) had never been contained in this Note, but only to the extent of its invalidity, illegality, or unenforceability.  In any event, if any such provision pertains to the repayment of the Obligations evidenced by this Note, then and in such event, at Bank’s option, the outstanding principal balance of this Note, together with all accrued and unpaid interest thereon, shall become immediately due and payable.

23.

WAIVER OF JURY TRIAL.
 BORROWER HEREBY (i)  COVENANTS AND AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY A JURY, AND
(ii) WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH BANK AND BORROWER MAY BE PARTIES ARISING OUT OF, IN CONNECTION WITH
OR IN ANY WAY PERTAINING TO THIS NOTE, ANY OF THE LOAN DOCUMENTS AND/OR ANY TRANSACTIONS, OCCURRENCES, COMMUNICATIONS, OR
UNDERSTANDINGS (OR THE LACK OF ANY OF THE FOREGOING) RELATING IN ANY WAY TO BORROWER-BANK RELATIONSHIP BETWEEN THE PARTIES.  IT
IS UNDERSTOOD AND AGREED THAT THIS WAIVER CONSTITUTES A WAIVER OF TRIAL BY JURY OF ALL CLAIMS AGAINST ALL PARTIES TO SUCH ACTIONS OR
PROCEEDINGS, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS NOTE.  THIS WAIVER OF JURY TRIAL IS SEPARATELY GIVEN,
KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY BORROWER AND BORROWER HEREBY AGREES THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE
BEEN MADE BY ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY MODIFY OR NULLIFY ITS EFFECT.  BANK IS
HEREBY AUTHORIZED TO SUBMIT THIS NOTE TO ANY COURT HAVING JURISDICTION OVER THE SUBJECT MATTER AND BORROWER SO AS TO SERVE AS
CONCLUSIVE EVIDENCE OF SUCH WAIVER OF RIGHT TO TRIAL BY JURY.  BORROWER REPRESENTS AND WARRANTS THAT IT HAS BEEN REPRESENTED IN
THE SIGNING OF THIS NOTE AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND/OR THAT
IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

24.

Waiver of Defenses, Counterclaims, etc.  Borrower hereby waives, in any litigation (whether or not arising out of or related to this note or any other obligation or liabilities

12

to Bank) in which Borrower and Bank shall be adverse parties, the right to interpose any defense, set-off or counterclaim of any nature or description.

25.

Indemnification.  The
Borrower agrees: (i) to pay and reimburse Bank for all of its  reasonable and documented out-of-pocket costs and expenses
incurred in connection with the preparation and execution of, and any amendment, supplement or modification to, this Note and the
other Loan Documents, and the consummation and administration of the transactions contemplated hereby and thereby, including the
reasonable fees, disbursements and other charges of internal and external counsel, (ii) to pay and reimburse Bank for reasonable and
documented out-of-pocket costs and expenses incurred in connection with the enforcement or preservation of any rights under this
Note, Loan Documents and any such other documents, including the reasonable fees, disbursements and other charges of its counsel,
whether internal or external, (iii) to pay, indemnify and hold harmless the Bank and its directors, officers and agents (each, an
“Indemnified Party” and collectively, “Indemnified Parties”) from and against any and all other
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever, including reasonable and documented fees, disbursements and other charges internal or external counsel for all
Indemnified Parties in connection with the execution, delivery, enforcement, performance and administration of this Note or the Loan
Documents and any such other documents or the use of the proceeds thereof, including any of the foregoing relating to the violation
of, noncompliance with or liability applicable to the operations of the Borrower, any of its subsidiaries; provided that the
Borrower shall have no obligation hereunder to any Indemnified Party with respect to damages caused directly by the gross negligence
or willful misconduct of such Indemnified Party as determined by a non-appealable final judgment.

26.

Miscellaneous.  Time is
of the essence under this Note.  The paragraph headings of this Note are for convenience only, and shall not limit or otherwise
affect any of the terms hereof.  This Note and the other Loan Documents, if any, constitute the entire agreement between the
parties with respect to their subject matter and supersede all prior letters, representations, or agreements, oral or written, with
respect thereto. No modification, release, or waiver of this Note shall be deemed to be made by Bank unless in writing signed by
Bank, and each such waiver, if any, shall apply only with respect to the specific instance involved.  No course of dealing or
conduct shall be effective to modify, release or waive any provisions of this Note or any of the other Loan Documents.
 Borrower acknowledges that this Note is an instrument for the payment of money only within the meaning of Section 3213 of the
New York Civil Practice Law & Rules.  This Note shall inure to the benefit of and be enforceable by Bank and Bank’s
successors and assigns and any other person to whom Bank may grant an interest in the obligations evidenced by this Note and shall
be binding upon and enforceable against Borrower and Borrower’s successors and assigns.  Whenever used herein, the
singular number shall include the plural, the plural the singular, and the use of the masculine, feminine, or neuter gender shall
include all genders.

27.

Financial Reporting.  The Borrower agrees that, so long as any obligations under the Note remain outstanding, the Borrower shall furnish to Bank:

(1) 

Within 120 days after fiscal year end, the financial statements of the Borrower in form and substance satisfactory to Bank;

13

(2)

Borrower shall maintain at all times a minimum of $150,000.00 in a Time Deposit with the Bank pledged as collateral securing this Loan.

(3)

Annual satisfactory credit report.

(4)

Satisfactory compliance report.

30.

Extension Option.   Bank, in its sole and absolute discretion, may elect to extend the term of this Loan for an additional one (1) year ("Extension Option"), provided that (i) Borrower provides Bank written notice of its desire to exercise the Extension Option no later than thirty (30) days but not more than sixty (60) days prior to the Maturity Date; (ii) the Time Deposit is renewed by Borrower through and including the end of the extended period; and (iii) an Event of Default has not occurred. 

Borrower: 

 

IASO PHARMA INC.

			
	 

	 

	By:

	/s/ Matthew A. Wikler

	 
	Name:

	Matthew A. Wikler

	 
	Title:

	President & CEO

14Unassociated Document

Exhibit 10.14

 

 

FIRST AMENDMENT

THIS FIRST AMENDMENT (the
“Amendment”) is entered into as of December 23, 2010 among IASO PHARMA INC., (“Borrower”) and ISRAEL DISCOUNT BANK OF NEW
YORK (“Bank”).

RECITALS

A.  Bank has extended a line
of credit to the Borrower, pursuant to the terms and conditions of that certain Demand TD Promissory Note, dated as of November 05, 2010, made by
Borrower in favor of Bank, as lender, in the original maximum principal amount of ONE HUNDRED FIFTY THOUSAND DOLLARS and 00/100 ($150,000.00) (the
“Note”).

B.  Borrower and Bank have
agreed to amend the Note as set forth herein.

NOW, THEREFORE, for valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

AGREEMENT

1.  Amendment not a
Novation.    This Amendment is not, and should not be construed as, a novation. All terms of the Note not specifically
amended and altered by this Amendment will remain in full force and effect, and the terms of which are incorporated herein by
reference.

2.  Amendments.    Effective as of the date hereof:

	(a)
	 	Increase in Loan
Amount.    The Note is hereby amended so that the maximum credit amount available under the line of credit is hereby
increased to $325,000.00 until the Maturity Date.

	(b)
	 	Section 2. (f) is hereby amended and restated in its
entirety as follows: “Borrower shall utilize the Advances to refinance an existing line of credit and for working
capital.”

	(c)
	 	Section 11. Events of
Default    The paragraph entitled “Financial Information” clause (iii) is hereby deleted in its
entirety.

3.  No Modification of
Other Obligations.    Except as is otherwise specifically set forth herein, all obligations of Borrower and Bank, shall
remain unmodified and in full force and effect through and including the Maturity Date but not limited to, the interest rate currently set forth in the
Note.

4.  Execution in
Counterparts.    This Amendment may be executed in counterparts and each counterpart shall constitute one and the same
original document.

5.  Use of Copy in Lieu
of Original.    A copy of this Amendment shall have the same force and effect as the original.

6.  Entire
Agreement. This Amendment together with all other amendments to the Credit Document and all other documents executed in connection therewith,
as such documents may have been amended, otherwise modified, or renewed, embody the entire agreement and understanding among the

2

parties hereto. There are no oral agreements or understandings.
No course of prior dealings, usage of trade, or oral conversation shall be admissible to supplement or explain this Amendment.

IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed as of the day and year first written above.

	BORROWER
	   	   	   	BANK

	 
	   	   	   	   	   	   
	IASO PHARMA
INC.
	   	   	   	ISRAEL DISCOUNT BANK OF NEW YORK

	 
	   	   	   	   	   	   
	By:  /s/ Matthew A. Wikler

        Name: Matthew A. Wikler
Title: President &
CEO
	   	   	   	By:  /s/ Tanya T. Harrington
 
        Name: Tanya T. Harrington
Title: First Vice President

	 
	   	   	   	   	   	   
	 
	   	   	   	By:  /s/ Stacy Watenberg
 
        Name: Stacy Watenberg
 Title: First Vice President

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