Document:

exh1016thamendment

2258168.1:613505.02679  Sixth Amendment to Credit Agreement    SIXTH AMENDMENT TO CREDIT AGREEMENT AND AMENDMENT TO NOTE  THIS SIXTH AMENDMENT TO CREDIT AGREEMENT AND AMENDMDNT TO NOTE  (this "Amendment"), is made and entered into effective as of December 28, 2020 (the "Effective Date"),  by and between EVOLUTION PETROLEUM CORPORATION, a Nevada corporation ("EPC"),  EVOLUTION PETROLEUM OK, INC., a Texas corporation (“Evolution Texas”), NGS  TECHNOLOGIES, INC., a Delaware corporation (“NGS”), EVOLUTION ROYALTIES, INC., a  Delaware corporation (“Evolution Royalties”; EPC, Evolution Texas, NGS, and Evolution Royalties are  collectively referred to herein as the “Original Borrowers”), EVOLUTION PETROLEUM WEST,  INC., a Delaware corporation (“Evolution West”; Evolution West and the Original Borrowers are  collectively referred to herein as the “Borrowers”) and MIDFIRST BANK, a federally chartered savings  association ("Lender").  RECITALS  A. Borrowers and Lender are parties to that certain Credit Agreement dated as of April 11, 2016, as amended by that certain First Amendment to Credit Agreement dated as of October 18, 2017 and  as further amended by that certain Second Amendment to Credit Agreement dated as of February 1, 2018  and as further amended by that certain Third Amendment to Credit Agreement dated as of May 25, 2018  and as further amended by that certain Fourth Amendment to Credit Agreement dated as of December 31,  2018 and as further amended by that certain Fifth Amendment to Credit Agreement dated as of November  2, 2020 (the "Existing Credit Agreement"). Capitalized terms used in this Amendment and not otherwise  defined herein have the respective meanings assigned to them in the Existing Credit Agreement.  B. The Loan is currently evidenced by that certain Amended and Restated Promissory Note in the face amount of $50,000,000.00 dated as of February 1, 2018 (the “Note”).  C. The Borrowers and the Lender have agreed to modify and replace a financial covenant and such other modifications as set forth herein.  NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements  herein contained, and for other good and valuable consideration, the receipt and adequacy of which are  hereby acknowledged, the parties agree as follows:   ARTICLE I.  DEFINITIONS AND REFERENCES  Section 1.1 Terms Defined in the Existing Credit Agreement.  Unless the context otherwise  requires or unless otherwise expressly defined herein, the terms defined in the Existing Credit Agreement  shall have the same meanings whenever used in this Amendment.  Section 1.2 Other Defined Terms.  Unless the context otherwise requires, the following terms  when used in this Amendment shall have the meanings assigned to them in this Section 1.2.  “Amendment” means this Sixth Amendment to Credit Agreement.  “Amendment Documents” means this Amendment, and all other Loan Documents  executed and delivered in connection herewith.  “Credit Agreement” means the Existing Credit Agreement as amended hereby.  Exhibit 10.1 

 

2258168.1:613505.02679  2 Sixth Amendment to Credit Agreement    ARTICLE II.  AMENDMENTS TO CREDIT AGREEMENT AND NOTE  Section 2.1 Amendments to Article 1 of the Existing Credit Agreement.  (a) Additional definitions for the terms “Available Commitment”, “Current Assets” and “Current Liabilities” shall be added to Section 1.01 of the Existing Credit Agreement, Defined Terms,  to be inserted in their appropriate alphabetical location and to state as follows:  "Available Commitment" shall mean, at any time, (a) the Commitment  at such time minus (b) the aggregate Total Outstandings at such time.  "Current Assets" shall mean, at any time, the sum of (a) the  consolidated current assets of the Borrower at such time, plus (b) the Available  Commitment at such time, but excluding any non-cash assets arising under  Accounting Standards Codification (“ASC”) 815  "Current Liabilities" shall mean, at any time, the consolidated current  liabilities of the Borrower at such time, but excluding (a) current maturities of  long term debt of the Borrower under this Agreement and the other Loan  Documents and (b) any non-cash liabilities arising under Accounting Standards  Codification (“ASC”) 815.  "Current Ratio" means, the ratio of (a) Borrower’s consolidated Current  Assets to (b) Borrower’s consolidated Current Liabilities.  (b) The definitions for the terms “Debt Service” and “Debt Service Coverage Ratio” shall be deleted from Section 1.01 of the Existing Credit Agreement, Defined Terms.  Section 2.2 Amendments to Article 7 of the Existing Credit Agreement.  (a) Paragraph “(b)”, Debt Service Coverage Ratio, of Section 7.12 of the Existing Credit Agreement, Financial Covenants, is hereby amended, restated and re-captioned as follows:  (b) Current Ratio.  Maintain, as of the last day of each fiscal quarter, on a consolidated basis a Current Ratio of not less than 1.00 to 1.00.  ARTICLE III.  CONDITIONS OF EFFECTIVENESS  Section 3.1 Effective Date.  This Amendment shall become effective as of the date first  above written when and only when:  (a) Amendment Documents.  Lender shall have received duly executed and delivered counterparts of each Amendment Document (i) in form, substance and date satisfactory to  Lender, and (ii) in such numbers as Lender or its counsel may reasonably request.  (b) Certificate.  Lender shall have received a certificate of a Responsible Officer of Borrower certifying as of the date of this Amendment (i) that there have been no changes to its  

 

2258168.1:613505.02679  3 Sixth Amendment to Credit Agreement    Organizational Documents since the Closing Date, and (ii) that there are no resolutions or other action of  Borrower prohibiting the transactions described in this Amendment.  (c) Other Documentation.  Lender shall have received all documents and instruments which Lender has then reasonably requested, in addition to those described in this Section 4.1.  All such  additional documents and instruments shall be reasonably satisfactory to Lender in form, substance and  date.   (d) No Default.  No event shall have occurred and be continuing that would constitute an Event of Default or a Default.  ARTICLE IV.  REPRESENTATIONS AND WARRANTIES  Section 4.1 Representations and Warranties of Borrower.  In order to induce Lender to enter  into this Amendment, each Borrower represents and warrants to Lender that:  (a) All representations and warranties made by each Borrower in any Loan Document are true and correct in all material respects (without duplication of any materiality qualifier  contained therein) on and as of time of the effectiveness hereof as if such representations and warranties  had been made as of the time of the effectiveness hereof (except to the extent that such representation or  warranty was made as of a specific date, in which case such representation or warranty shall be true and  correct in all material respects (without duplication of any materiality qualifier contained therein) as of  such specific date).  (b) Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery by it of the Amendment Documents to which it is a party and to authorize the  consummation of the transactions contemplated thereby and the performance of its obligations thereunder  and will provide Lender with any approval thereof at the next scheduled meeting of any such Borrower’s  board of directors.  (c) The execution and delivery by each Borrower of the Amendment Documents to which it is a party, the performance by each Borrower of its obligations under such Amendment  Documents, and the consummation of the transactions contemplated by such Amendment Documents, do  not and will not (a) conflict with, violate or result in a breach of any provision of (i) to any Borrower’s  knowledge, any Law, (ii) any Borrower’s Organization Documents, or (iii) any material agreement,  judgment, license, order or permit applicable to or binding upon any Borrower, (b) result in the  acceleration of any Indebtedness owed by any Borrower, or (c) result in or require the creation of any  Lien upon the assets or properties of any Borrower except as expressly contemplated or permitted in the  Loan Documents.  Except (x) as expressly contemplated in the Amendment Documents and (y) such as  have been obtained or made and are in full force and effect, to each Borrower’s knowledge, no permit,  consent, approval, authorization or order of, and no notice to or filing with, any Governmental Authority  or third party is required on the part of or in respect of any Borrower in connection with the execution,  delivery or performance by each Borrower of any Amendment Document or to consummate any  transactions contemplated by the Amendment Documents.  (d) This Amendment is, and the other Amendment Documents when duly executed and delivered will be, legal, valid and binding obligations of each Borrower, enforceable against each  Borrower in accordance with their terms except as such enforcement may be limited by bankruptcy,  insolvency or similar Laws of general application relating to the enforcement of creditors’ rights and by  general principles of equity.   

 

2258168.1:613505.02679  4 Sixth Amendment to Credit Agreement    ARTICLE V.  MISCELLANEOUS  Section 5.1 Ratification of Agreements.  The Existing Credit Agreement as hereby amended  is hereby ratified and confirmed in all respects.  The Loan Documents, as they may be amended or  affected by the various Amendment Documents, are hereby ratified and confirmed in all respects.  Any  reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the  Existing Credit Agreement as hereby amended.  The execution, delivery and effectiveness of this  Amendment and the other Amendment Documents shall not, except as expressly provided herein or  therein, operate as a waiver of any right, power or remedy of Lender under the Credit Agreement, the  Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the  Notes or any other Loan Document.  Section 5.2 Survival of Agreements.  All of each Borrower’s various representations,  warranties, covenants and agreements in the Amendment Documents shall survive the execution and  delivery thereof and the performance thereof, including the making or granting of the Loans and the  delivery of the other Loan Documents, and shall further survive until all of the Obligations are paid in full  to Lender and all of Lender’s obligations to Borrowers are terminated.    Section 5.3 Waiver of Jury Trial.  EACH OF THE BORROWERS AND LENDER (BY  THEIR ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY  AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN  RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE)  BETWEEN OR AMONG THE BORROWERS AND THE LENDER, ARISING OUT OF OR IN ANY  WAY RELATED TO THIS DOCUMENT, ANY OTHER RELATED DOCUMENT, OR ANY  RELATIONSHIP BETWEEN THE LENDER AND THE BORROWERS OR ANY BORROWER.   THIS PROVISION IS A MATERIAL INDUCEMENT TO THE LENDER TO PROVIDE THE  FINANCING DESCRIBED HEREIN.  Section 5.4 Interpretive Provisions.  Section 1.2 of the Existing Credit Agreement is  incorporated herein by reference herein as if fully set forth. Unless the context clearly indicates otherwise,  all references to "Borrower" mean either or any Borrower.  Each Borrower is jointly and severally liable  for the Obligations.  Lender may sue any Borrower, jointly or individually, without impairing Lender's  rights against any other Borrower.  Lender may compromise with any Borrower or any other Person for  any sum Lender sees fit.  Lender may release any Borrower or any other Person from any liability for the  Obligations without impairing Lender's right to demand and collect the balance of the Obligations from  any Borrower or other Person.  No compromise or release will, except as specifically set forth in the  Agreement, impair Borrowers’ rights amongst themselves.  Section 5.5 Loan Documents.  The Amendment Documents are each a Loan Document, and  all provisions in the Existing Credit Agreement pertaining to Loan Documents apply thereto.  Section 5.6 Governing Law.  This Amendment shall be governed by, and construed in  accordance with, the Laws of the State of Texas.  Section 5.7 Counterparts; Fax.  This Amendment may be separately executed in counterparts  and by the different parties hereto in separate counterparts, each of which when so executed shall be  deemed to constitute one and the same Amendment.  The Amendment Documents may be validly  executed by facsimile or other electronic transmission.  THIS AMENDMENT AND THE OTHER AMENDMENT DOCUMENTS REPRESENT THE  FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY  

 

2258168.1:613505.02679  5 Sixth Amendment to Credit Agreement    EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS  OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE  PARTIES.  IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as  of the date first above written.  [The remainder of this page has been intentionally left blank.]  

 

2258168.1:613505.02679  Sixth Amendment to Credit Agreement    Signature Page to Sixth Amendment to Credit Agreement  IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as  of the date first above written.  BORROWERS: EVOLUTION PETROLEUM  CORPORATION, a Nevada corporation  By: s/s JASON BROWN  Name:  Jason Brown  Title:    Chief Executive Officer and President  EVOLUTION PETROLEUM OK, INC., a  Texas corporation  By: s/s JASON BROWN  Name:  Jason Brown  Title:    Chief Executive Officer and President  NGS TECHNOLOGIES, INC., a Delaware  corporation  By: s/s JASON BROWN  Name:  Jason Brown  Title:    Chief Executive Officer and President  EVOLUTION ROYALTIES, INC., a  Delaware corporation  By: s/s JASON BROWN  Name:  Jason Brown  Title:    Chief Executive Officer and President  EVOLUTION PETROLEUM WEST, INC., a  Delaware corporation  By: s/s JASON BROWN  Name:  Jason Brown  Title:    Chief Executive Officer and President  

 

2258168.1:613505.02679   LENDER: MIDFIRST BANK  By:       s/s CHAY KRAMER  Name:  Chay Kramer  Title:    Vice PresidentExhibit 10.1

 

Patent License Agreement

 

This Patent License Agreement (this “Agreement”)
is effective as of the date of the last signature on the signature page (the “Effective Date”), and is made
by and between SILO PHARMA INC., a Delaware Corporation, and SILO PHARMA, INC., a Florida Corporation, and their Affiliates/Subsidiaries,
as defined below, with principal executive offices located at 560 Sylvan Avenue, Suite 3160, Englewood Cliffs, New Jersey 07632
(collectively, “Licensor”), on the one hand, and AIKIDO PHARMA INC., a Delaware corporation, principal executive
offices located at One Rockefeller Plaza, 11th Floor, New York, New York 10020 (“Licensee”), on the
other hand (collectively, the “Parties,” or each, individually, a “Party”).

 

WHEREAS, Licensor owns all right,
title, and interest in and has the right to license to Licensee the Licensed Patents, as defined herein;

 

WHEREAS, Licensee wishes to practice
the Licensed Patents in the Field of Use in the Territory in connection with the Licensed Products and Licensed Processes, all
as defined herein, and Licensor is willing to grant to Licensee a license to and under the Licensed Patents as defined herein in
the Field of Use in the Territory on the terms and conditions set out in this Agreement;

 

WHEREAS, University of Maryland,
Baltimore (“UMB”) and Licensor have entered into a Commercial Evaluation License and Option Agreement, having
an Effective Date of July 15, 2020 (“UMB Agreement”, attached hereto as Exhibit 1), pursuant to which
UMB granted Licensor a non-sublicensable (other than to a Qualified Subcontractor, as defined in the UMB Agreement), non-transferable
license to use the UMB Patent Rights during the Term in only in the Evaluation Field, as defined in the UMB Agreement and an exclusive
option to negotiate and obtain an exclusive, sublicenseable, royalty-bearing license to the UMB Patent Rights but only in the Option
Field and Option Territory, as defined in the UMB Agreement, subject to the terms of the UMB Agreement (“the Option”);

 

WHEREAS, in the event Licensor
exercises the Option and enters into a patent license agreement with UMB under the terms of the UMB Agreement (“UMB License”),
Licensee wishes to practice the UMB Patents in a field within the Option Field in the Option Territory defined in the UMB Agreement,
and Licensor is willing to grant to Licensee a sublicense under any such UMB License to and under the UMB Patent Rights to the
full extent permitted by, and on the terms and conditions required by, the UMB Agreement and any such resulting UMB License.

 

NOW, THEREFORE, in consideration of the
mutual covenants, terms, and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

1. Definitions.
For purposes of this Agreement, the following terms have the following meanings:

 

“Affiliate”
of a Person means any other Person that, as of the Effective Date and at any time during the Term, directly or indirectly, through
one or more intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control”
for purposes of this Agreement means the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract, or otherwise/direct or indirect ownership of more than fifty percent (50%)
of the voting securities of a Person, and “controlled by” and “under common control with” have correlative
meanings. For the avoidance of doubt, any Person that is not an Affiliate as of the Effective Date, but later becomes an Affiliate
of Licensee through any transaction or series of related transactions will be deemed to be an Affiliate of Licensee for purposes
of this Agreement. Furthermore, if an Affiliate of Licensee ceases to be an Affiliate of Licensee after the Effective Date, any
rights granted to such Affiliate under this Agreement shall continue to apply to such Affiliate with respect to any activity conducted
by such Affiliate during the period it was an Affiliate.

 

    1

     

    

 

“Business
Day” means a day other than a Saturday, Sunday, or other day on which commercial banks in New York, NY are authorized
or required by Law to be closed for business.

 

“Combination
Product” means a Licensed Product consisting of one or more products or technology covered by a Valid Claim packaged,
bundled, or otherwise combined for sale with one or more other products or technology that is not covered by a Valid Claim. All
references to Licensed Products in this Agreement will be deemed to include Combination Products.

 

“Confidential
Information” means all non-public, confidential, or proprietary information of the Disclosing Party, whether in oral,
written, electronic, or other form or media, whether or not such information is marked, designated, or otherwise identified as
“confidential” and any information that, due to the nature of its subject matter or circumstances surrounding its disclosure,
would reasonably be understood to be confidential or proprietary. The terms of this Agreement are Confidential Information, except
as permitted under Section 8 of this Agreement.

 

Confidential
Information does not include information that the Receiving Party can demonstrate by documentation: (1) was already known to the
Receiving Party without restriction on use or disclosure by the Disclosing Party prior to receipt of such information directly
or indirectly from or on behalf of the Disclosing Party; (2) was or is independently developed by the Receiving Party without reference
to or use of any Confidential Information; (3) was or becomes generally known by the public other than by breach of this Agreement
by, or other wrongful act of, the Receiving Party; or (4) was received by the Receiving Party from a third party who was not, at
the time of receipt, under any obligation to the Disclosing Party or any other Person to maintain the confidentiality of such information.

 

“Field
of Use” means treatment of cancer and symptoms caused by cancer, including but not limited to pain, nausea, neuroinflammation,
brain and neural dysfunction, depression, seizures, confusion, dizziness, numbness/tingling, dysfunction of the senses and all
other symptoms that are caused by cancer of any type. For the sake of clarity, the Field of Use does not include any potential
applications of the Licensed Products and Licensed Processes other than those used in treating cancers and the symptoms caused
by the cancers.

 

    2

     

    

 

“Governmental
Authority” means any federal, state, national, supranational, local, or other government, whether domestic or foreign,
including any subdivision, department, agency, instrumentality, authority (including any regulatory authority), commission, board,
or bureau thereof, or any court, tribunal, or arbitrator.

 

“Improvement”
means any modification of or improvement or enhancement to the technology that is the subject of the Licensed Patents and in the
Field of Use.

 

“Licensed
Patents” means (a) the patent applications listed in Schedule A, all patents issuing from the patent applications listed
in Schedule A, and all continuations, continuations-in-part, divisions, extensions, substitutions, reissues, re-examinations, and
renewals of any of the foregoing, and (b) any patents in the Territory issuing from any applications filed after the Effective
Date and that claim domestic benefit or foreign priority from any of the patents or patent applications identified in subsection
(a) or from which any of the patents or patent applications identified in subsection (a) claim domestic benefit or foreign
priority.

 

“Licensed
Products” means all products, including but not limited to Combination Products, in whole or in part, the manufacture,
use, offer for sale, sale, exportation or importation of which would, but for this Agreement, infringe directly, indirectly by
inducement of infringement, or indirectly by contributory infringement, a Valid Claim.

 

“Licensed
Processes” means all method or process that, in whole or in part: (a) the practice of which falls within the scope of
a Valid Claim; or (b) which uses a Licensed Product.

 

“Net
Sales” means the consideration received or expected from, or the fair market value attributable to, each Sale, less
Qualifying Costs that are directly attributable to a Sale, specifically identified on an invoice or other documentation and actually
borne by Licensee or its Affiliates or Sublicensees. For purposes of determining Net Sales, the words “fair market value”
means the cash consideration that Licensee or its Affiliates or Sublicensees would realize from an unrelated buyer in an arm’s
length sale of an identical item sold in the same quantity and at the time and place of the transaction. The term “Sale”
means any bona fide transaction for which consideration is received by Licensee or its Affiliate or Sublicensee for the sale,
use, lease, transfer or other disposition of a Licensed Product or Licensed Processes to a third party. A Sale is deemed completed
at the time that Licensee or its Affiliate or Sublicensee invoices, ships or receives payment for a Licensed Product or Licensed
Processes, whichever occurs first. The term “Qualifying Costs” means: (a) customary discounts in the trade
for quantity purchased or for wholesalers and distributors; (b) credits or refunds for claims or returns that do not exceed the
original invoice amount; (c) prepaid outbound transportation expenses and transportation insurance premiums; and (d) sales and
use taxes and other fees imposed by and indefeasibly paid to a governmental agency.

 

“Patent
Challenge” means a legal or administrative challenge to the validity, patentability, scope, or enforceability of any
of the Licensed Patents or otherwise opposing any of the Licensed Patents.

 

    3

     

    

 

“Person(s)”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated
organization, trust, association, or other entity.

 

“Reporting
Period” shall begin on the first day of each calendar quarter and end on the last day of such calendar quarter.

 

“Representatives”
means a Party’s and its Affiliates’ employees, officers, directors, consultants, and legal advisors.

 

“Sublicensee”
means any person or entity that has been granted a sublicense of the rights granted to Licensee under Section 2.1 of this Agreement.
For clarity, a sublicense shall include, without limitation: (i) any right granted, license given or agreement entered into by
Licensee to or with another person or entity, under or with respect to or permitting any use of the Licensed Patents or otherwise
granting rights to such person or entity pursuant to this Agreement; (ii) any option or other right granted by Licensee to any
other person or entity to negotiate for or receive any of the rights described under clause (i); or (iii) any standstill or similar
obligation undertaken by Licensee toward another person or entity not to grant any of the rights described in clause (i) or (ii)
to any third party, in each case regardless of whether such grant of rights, license given or agreement entered into is referred
to or is described as a sublicense.

 

“Subsidiary”
of a Person means a corporation, partnership, limited liability company, or other business entity that is controlled by such Person,
and “control” has the meaning given to it in the definition of “Affiliate.”

 

“Territory”
means all countries worldwide.

 

“UMB
Patent Rights ” means any future UMB Patent Rights to which Licensor obtains license rights from UMB after exercising
the Option granted by UMB to Licensor, including the patent applications listed in Schedule A of the UMB Agreement and Schedule
B of this Agreement, as defined in the UMB Agreement, together with: any divisional, continuation, and continuation-in-part (but
only to the extent a continuation-in-part contains one or more claims directed to any of the foregoing); any patent issuing from
any of the foregoing; any reissue or reexamination from any of the foregoing, or any other claim arising from a post-grant proceeding
of any of the foregoing; all patent applications and patents claiming priority to or issuing from any of the foregoing; and all
foreign counterparts or equivalents of any of the foregoing as set forth in the UMB Agreement.

 

“Valid
Claim” means (a) a claim of an unexpired issued or granted Licensed Patent, as long as the claim has not been caused
to be invalid or unenforceable through reissue, disclaimer, or otherwise, or held invalid or unenforceable by a Governmental Authority
of competent jurisdiction from whose judgment no appeal is allowed or timely taken; or (b) a pending claim of a pending patent
application within the Licensed Patents that (i) has been filed and prosecuted in good faith, (ii) has not been abandoned or finally
rejected in a decision that is unappealable or unappealed within the time allowed for appeal and (iii) has not been pending for
more than five (5) years after the date of first substantive examination of such patent application, as evidenced by the receipt
of an office action on the merits from the United States Patent and Trademark Office (or an equivalent examination report from
a foreign patent office); provided, however, that in the event that such claim subsequently issues in an issued patent, then such
claim shall be a Valid Claim hereunder, and Licensee shall pay to Licensor any amounts that would otherwise have been due under
such Valid Claim. The invalidity or unenforceability of a particular claim in one or more countries shall not invalidate or render
unenforceable such a claim in the remaining countries of the Territory.

 

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2. Grant.

 

2.1 Scope
of Grant. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee for the Term (as
defined herein) an exclusive, sublicensable, royalty-bearing, license to make, have made, use, provide, import, export, lease,
distribute, sell, offer for sale, develop and advertise Licensed Products in the Field of Use in the Territory and to develop and
perform Licensed Processes in the Field of Use in the Territory.

 

2.2 Sublicenses.
Subject to the terms and consistent with the obligations of this Agreement, as long as Licensee remains the exclusive licensee
of the Licensed Patents in the Field of Use in the Territory, Licensee shall have the right to grant sublicenses of its rights
under Section 2.1 subject to written consent of Licensor not to be unreasonably withheld, conditioned or delayed. Licensee shall
not extend this right to its Sublicensees. Licensee shall incorporate terms and conditions into its sublicense agreements sufficient
to enable Licensee to comply with this Agreement. Licensee shall also include provisions in all sublicenses to provide that in
the event that Sublicensee brings a Patent Challenge against Licensor or assists another party in bringing a Patent Challenge against
Licensor (except as required under a court order or subpoena) then Licensee shall terminate the sublicense. For the avoidance of
doubt, the right for Licensee to grant a sublicense is intended to include the right to further sublicense provided that Licensee
shall remain responsible for and shall ensure that each Sublicensee (including any further permitted Sublicensee) complies with
the terms and conditions of this Agreement. Licensee or its Sublicensee shall promptly inform Licensor in writing of all such further
sublicenses and furnish Licensor with a copy of each executed sublicense and any amendments thereto. For the avoidance of doubt,
in the event that any rights granted to Licensee under this Agreement become nonexclusive, the exclusivity of any such sublicense
shall expire. For clarity, if Licensee sublicenses the Licensed Patents to an Affiliate, such Affiliate shall be deemed a Sublicensee
for purposes of this Agreement.

 

2.3 No
Additional Rights. Nothing in this Agreement shall be construed to confer any rights upon Licensee by implication, estoppel,
or otherwise as to any technology, patent, or other rights of Licensor or any other entity other than the Licensed Patents in
the Field of Use in the Territory, regardless of whether such technology or patent rights shall be dominant or subordinate to
any Licensed Patents in the Field of Use in the Territory.

 

3. Improvements.

 

3.1 Notice
of Improvements. If Licensor files a patent application anywhere in the Territory within the twelve (12) months following
the Effective Date for any Improvement as defined herein in the Field of Use (“Improvement Patent Application”),
Licensor shall provide written notice to Licensee within thirty (30) days after the filing date of the patent application, with
a copy of the patent application for Licensee to evaluate the Improvement.

 

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3.2 Option
to License Improvements. Licensor hereby grants Licensee an option to acquire an exclusive, worldwide, sublicensable,
royalty-bearing license, at commercially reasonable royalty rates to be negotiated in good faith, to any Improvement Patent Application
for a period of ninety (90) days after Licensee’s receipt of Licensor’s notice of the filing of the Improvement Patent
Application (“Option Period”). If Licensee notifies Licensor in writing of its exercise of the option to license
an Improvement Patent Application, then the parties will have ninety (90) days after such notice, or any period extended by mutual
agreement in writing (“Negotiation Period”) to negotiate in good faith a license agreement. .

 

3.3 Grant-Backs.
All right, title, and interest in any Improvement conceived, made, or reduced to practice by Licensee during the Term of this Agreement
(“Licensee Improvement”), and all of Licensee’s patents and patent applications claiming any such Licensee
Improvements, will:

 

(a) as
between the Parties, remain the sole and exclusive property of Licensee; and

 

(b) be
subject to an option granted to Licensor to acquire an exclusive, worldwide, sublicensable, royalty-bearing license, at commercially
reasonable royalty rates to be negotiated in good faith for a period of ninety (90) days after the filing of such licensee’s
patents and patent applications. If Licensor notifies Licensee in writing of its exercise of the option to license such patents
and patent applications claiming Licensee’s Improvement, then the parties will have ninety (90) days after such notice, or
any period extended by mutual agreement in writing to negotiate in good faith a license agreement.

 

4. Contingent
Sublicense Grant Under Any UMB License.

 

4.1 If
Licensor exercises its Option under the UMB Agreement and obtains a license to any UMB Patents under its UMB Agreement (“UMB
License”):

 

(a) Licensee
agrees to negotiate with Licensor to obtain UMB approval to obtain a sublicense to UMB Patent Rights under any such UMB License
that Licensor obtains.

 

(b) Licensor
shall notify Licensee within ten (10) Business Days of the execution of such UMB License.

 

(c) Within
forty (40) days after the execution of such UMB License, for consideration to be agreed upon and paid from Licensee, which consideration
shall in no event exceed 110% of any fee payable by Licensor to UMB for the right to sublicense the UMB Patent Rights, Licensor
shall grant Licensee a nonexclusive sublicense in the Option Territory to the UMB Patent Rights in the field of neuroinflammatory
diseases occurring in any patient diagnosed with cancer subject to the terms of any UMB License Licensor obtains, including any
royalty obligations on sub licensees required under any such sublicense.

 

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(d) The
terms of the sublicense under this Section 4 shall satisfy all requirements of UMB License with respect to the grant of sublicenses.
The term of the sublicense under this Section 4 shall be consistent with the term of patent and technology licenses that UMB normally
grants.

 

5. Financial
Considerations.

 

5.1 License
Fees. In consideration of the license/sublicense grants by Licensor to Licensee under this Agreement, Licensee shall pay or otherwise
provide to Licensor on the Effective Date the license fees, as follows:

 

(a) Licensee
shall issue and deliver to Licensor 500 shares of the Licensee’s Series M Convertible Preferred Stock (“Preferred
Stock”) having the rights, preferences and privileges set forth in the Certificate of Designation, in the form of Exhibit
3 attached hereto (“Certificate of Designation”).

 

(b) A one-time nonrefundable cash payment of five-hundred thousand US Dollars ($500,000.00).

 

5.2 Running
Royalties. Subject to the terms and conditions of this Agreement, Licensee
shall pay to Licensor a Running Royalty equal to two percent (2%) of Net Sales in the Field of Use in the Territory. Running royalties
shall by payable for each Reporting Period and shall be due to Licensor within sixty (60) days of the end of each Reporting Period.

 

6. Patent
Prosecution and Maintenance.

 

6.1 For
each patent application and patent included within the Licensed Patents, so long as Licensee remains current on its payment
obligations, as required under this Article 5, Licensor shall:

 

(a) prepare,
file, prosecute, and maintain such Licensed Patent at its sole cost and expense using reasonable care and skill and using counsel
reasonably acceptable to Licensee;

 

(b) keep
Licensee reasonably informed of the filing and progress of all material aspects of the prosecution of such patent application and
the issuance of patents from any such patent application;

 

(c) provide
Licensee with a copy of such patent application, amendments thereto, and other related correspondence to and from patent offices,
and, to the extent reasonably practicable, provide Licensee a reasonable opportunity to offer its comments thereon before making
a submission to a patent office and Licensor shall consider in good faith Licensee’s comments;

 

    7

     

    

 

(d) consult
with Licensee concerning any decisions that could affect the scope or enforcement of any issued claims or the potential abandonment
of such patent application or patent; and

 

(e) notify
Licensee in writing of any changes in the scope or status of such patent or patent application.

 

6.2  Abandonment.
If Licensor plans to fail to timely file a nonprovisional application claiming priority to a Licensed Patent that is a provisional
application or abandon any patent application or patent included within the Licensed Patents in any country of the Territory, Licensor
shall notify Licensee in writing at least sixty (60) days in advance of the due date of any payment or other action that is required
to prosecute and maintain such Licensed Patent. Following such notice, Licensee will have the right, in its sole discretion, to
assume control and direction of the prosecution and maintenance of such Licensed Patent at its sole cost and expense in such country,
and Licensor shall, at Licensee’s request, assign to Licensee such patent application or patent.

 

7.  Enforcement
of Licensed Patents.

 

7.1 Notice
of Infringement or Third-Party Claims. If either Party becomes aware of any suspected infringement of any Licensed Patent by
a third party in the Field of Use in the Territory, or (b) any claim that any Licensed Patent is invalid or unenforceable, such
Party shall promptly notify the other Party and provide it with all details of such infringement or claim, as applicable, that
are known by such Party.

 

7.2 Right
to Bring Action or Defend. Licensor shall have the first right, but not the obligation, to bring an infringement action to
enforce any Licensed Patent, defend any declaratory judgment action concerning any Licensed Patent, and take any other lawful action
reasonably necessary to protect, enforce, or defend any Licensed Patent, and control the conduct thereof. Notwithstanding the foregoing,
if Licensor does not bring action with respect to any commercially significant third-party infringement within sixty (60) days
of a request by Licensee, or earlier notifies Licensee in writing of its intent not to do so, then Licensee shall have the right,
but not the obligation, to bring such an action and to control the conduct thereof.

 

7.3 Cooperation,
Recovery, and Settlement. In the event a Party undertakes the enforcement or defense of any Licensed Patent in accordance with
Section 7.2:

 

(a) the
other Party shall provide all reasonable cooperation and assistance, at the enforcing Party’s expense, including providing
access to relevant documents and other evidence, making its employees available at reasonable business hours, and being joined
as a party to such action as necessary to establish standing/solely if a court of competent jurisdiction determines Licensee is
an indispensable party;

 

(b) any
recovery, damages, or settlement derived from such suit, action, or other proceeding will be applied first in satisfaction of any
costs and expenses, including attorneys’ fees, of the enforcing Party, with any remaining amounts shared fifty percent (50%)
Licensor and fifty percent (50%) Licensee; and

 

    8

     

    

 

(c) No
Party shall settle any such suit, action, or other proceeding, whether by consent order, settlement, or other voluntary final disposition,
without the prior written consent of the other Party.

 

8. Confidentiality.

 

8.1 Confidentiality
Obligations. Each Party (the “Receiving Party”) acknowledges that in connection with this Agreement
it will gain access to Confidential Information of the other Party (the “Disclosing Party”). As a condition
to being furnished with Confidential Information, the Receiving Party shall:

 

(a) not
use the Disclosing Party’s Confidential Information other than as strictly necessary to exercise its rights and perform its
obligations under this Agreement; and

 

(b) maintain
the Disclosing Party’s Confidential Information in strict confidence and, subject to Section 8.2
and 8.3, not disclose the Disclosing Party’s Confidential Information without the Disclosing Party’s prior written
consent, provided, however, the Receiving Party may disclose the Confidential Information to its Representatives who:

 

(i) have
a need to know the Confidential Information for purposes of the Receiving Party’s performance, or exercise of its rights
with respect to such Confidential Information, under this Agreement;

 

(ii) have
been apprised of this restriction; and

 

(iii) are
themselves bound by written nondisclosure agreements at least as restrictive as those set out in this Section 8, provided further
that the Receiving Party will be responsible for ensuring its Representatives’ compliance with, and will be liable for any
breach by its Representatives of, this Section 8.

 

The Receiving
Party shall use reasonable care, at least as protective as the efforts it uses with respect to its own Confidential Information,
to safeguard the Disclosing Party’s Confidential Information from use or disclosure other than as permitted hereby.

 

8.2 Legal
Compulsion. If the Receiving Party becomes legally compelled to disclose any Confidential Information, the Receiving Party
shall:

 

(a) provide
prompt written notice to the Disclosing Party so the Disclosing Party may seek a protective order or other appropriate remedy or
waive its rights under this Section 8; and

 

    9

     

    

 

(b) disclose
only the portion of Confidential Information it is legally required to furnish.

 

If a protective order or other
remedy is not obtained, or the Disclosing Party waives compliance under this Section 8, the Receiving Party shall, at the Disclosing
Party’s expense, use reasonable efforts to obtain assurance that confidential treatment will be afforded the Confidential
Information.

 

8.3 Exceptions.
Notwithstanding the provisions of this Section 8, a Party may:

 

(a) Disclose
information covered by this Section 8 if otherwise required by any Governmental Authority, or any applicable securities laws or
stock exchange requirements, provided that the Parties will use their commercially reasonable efforts to limit the disclosure of
the contents of this agreement (including but not limited to any exhibits to this Agreement) to the extent legally permissible,
as determined in each Party’s reasonable discretion;

 

(b) disclosure
of the non-financial terms of this Agreement to any potential sublicensees of the Licensed Patents under written nondisclosure
agreements;

 

(c) Issue
a press release, subject to the prior written approval of the other Party, regarding the existence of this Agreement.

 

9. Representations
and Warranties.

 

9.1 Mutual
Representations and Warranties. Each Party represents and warrants to the other Party that:

 

(a) it
is duly organized, validly existing, and in good standing as a corporation or other entity as represented herein under the laws
and regulations of its jurisdiction of incorporation, organization, or chartering;

 

(b) it
has, and throughout the Term will retain, the full right, power, and authority to enter into this Agreement and to perform its
obligations hereunder;

 

(c) the
execution of this Agreement by its representative whose signature is set forth at the end hereof has been duly authorized by all
necessary corporate action of the Party; and

 

(d) when
executed and delivered by such Party, this Agreement will constitute the legal, valid, and binding obligation of that Party, enforceable
against that Party in accordance with its terms.

 

    10

     

    

 

9.2 Licensor’s
Representations and Warranties. Licensor represents and warrants that:

 

(a) The
patents and patent applications identified on Schedule A are accurately described and are all the patents and patent applications
currently owned by Licensor or its Affiliates that are necessary or useful for Licensor to make, use, offer to sell, sell, and
import the Licensed Products in the Field of Use in the Territory;

 

(b) it
and its Affiliates are the sole and exclusive owners of the entire right, title, and interest in and to the Licensed Patents in
the Field of Use in the Territory, as evidenced by the assignment agreements attached hereto as Exhibit 2;

 

(c) it
has, and throughout the Term will retain, the right to grant the license granted to Licensee hereunder, and it has not granted,
and is not under any obligation to grant, to any third party any license, lien, option, encumbrance, or other contingent or non-contingent
right, title, or interest in or to the Licensed Patents in the Field of Use in the Territory that conflicts with the rights and
licenses granted to Licensee hereunder;

 

(d) Licensor
has complied and/or will comply in all material respects with all applicable Laws in connection with the prosecution of the Licensed
Patents, including any disclosure requirements of the United States Patent and Trademark Office and any foreign patent office,
and has timely paid and/or will pay all filing and renewal fees payable with respect thereto;

 

(e) Licensor
will comply with all terms of the UMB Agreement to preserve its rights in the Option;

 

(f) Licensor
intends to and will make its best commercial efforts to exercise its option and take a UMB License under the UMB Agreement during
the Term of the UMB Agreement in compliance with the terms of the UMB Agreement.

 

(g) Licensor
understands that the Preferred Stock and the shares of common stock of the Licensor underlying the Preferred Stock (“Conversion
Shares”) are “restricted securities” and have not been registered under the Securities Act of 1933, as amended
(the “Securities Act”) or any applicable state securities law and is acquiring the Preferred Stock and Conversion Shares
as principal for its own account and not with a view to or for distributing or reselling such Preferred Stock and Conversion Shares
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 Preferred Stock and Conversion Shares 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
Preferred Stock and Conversion Shares in violation of the Securities Act or any applicable state securities law. Licensor is acquiring
the Preferred Stock and Conversion Shares hereunder in the ordinary course of its business.

 

(h) At
the time Licensor was offered the Preferred Stock, it was, and as of the date hereof it is, and on each date on which it converts
any shares of Preferred Stock, it will be an “accredited investor” as defined in Rule 501(a) under the Securities Act.

 

    11

     

    

 

(i) Licensor,
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 Preferred Stock and Conversion
Shares, and has so evaluated the merits and risks of such investment. Licensor is able to bear the economic risk of an investment
in the Preferred Stock and Conversion Shares and, at the present time, is able to afford a complete loss of such investment.

 

(j) Licensor
is not, to Licensor’s knowledge, purchasing the Preferred Stock and Conversion Shares as a result of any advertisement, article,
notice or other communication regarding the Preferred Stock and Conversion Shares published in any newspaper, magazine or similar
media or broadcast over television or radio or presented at any seminar or, to the knowledge of Licensor, any other general solicitation
or general advertisement.

 

(k) Licensor
acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits and schedules thereto)
and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive
answers from, representatives of the Company concerning the terms and conditions of the offering of the Preferred Stock and Conversion
Shares and the merits and risks of investing in the Preferred Stock and Conversion Shares; (ii) access to information about the
Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable
it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can
acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

 

(l) The
Preferred Stock and Conversion Shares received upon conversion of the Preferred Stock may only be disposed of in compliance with
state and federal securities laws. In connection with any transfer of Preferred Stock or Conversion Shares other than pursuant
to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser or in connection with a pledge,
the Company may require the transferor thereof to provide to the Company 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 Preferred Stock or Conversion Shares under the Securities
Act.

 

9.3 Licensee’s
Representations and Warranties. Licensee represents and warrants that:

 

(a) The
Licensee has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this
Agreement and the Certificate of Designation and to otherwise to carry out its obligations hereunder. The execution and delivery
of this Agreement and the Certificate of Designation 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 Licensee and no further action is required by the Licensee,
the Licensee’s Board of Directors or the Licensee’s stockholders in connection herewith or therewith. This Agreement
and the Certificate of Designation has been (or upon delivery will have been) duly executed by the Licensee and, when delivered
in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Licensee enforceable against
the Licensee 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.

 

    12

     

    

 

(b) The
Preferred Stock is duly authorized and, when issued and paid for in accordance with this Agreement, will be duly and validly issued,
fully paid and nonassessable, free and clear of all liens imposed by the Licensee other than restrictions on transfer provided
for in this Agreement. The Conversion Share, when issued in accordance with the terms of the Certificate of Designation, will be
validly issued, fully paid and nonassessable, free and clear of all liens imposed by the Licensee other than restrictions on transfer
provided for in this Agreement. The Licensee has reserved from its duly authorized capital stock a number of shares of Common Stock
for issuance of all of the Conversion Shares.

 

10. Exclusion
of Consequential and Other Direct Damages. TO THE FULLEST EXTENT PERMITTED BY LAW, LICENSEE WILL NOT BE LIABLE
TO LICENSOR OR ANY OTHER PERSON FOR ANY INJURY TO OR LOSS OF GOODWILL, REPUTATION, BUSINESS PRODUCTION, REVENUES, PROFITS, ANTICIPATED
PROFITS, CONTRACTS, OR OPPORTUNITIES (REGARDLESS OF HOW THESE ARE CLASSIFIED AS DAMAGES), OR FOR ANY CONSEQUENTIAL, INCIDENTAL,
INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE, OR ENHANCED DAMAGES, WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE),
STRICT LIABILITY, PRODUCT LIABILITY, OR OTHERWISE (INCLUDING THE ENTRY INTO, PERFORMANCE, OR BREACH OF THIS AGREEMENT), REGARDLESS
OF WHETHER SUCH LOSS OR DAMAGE WAS FORESEEABLE AND THE PARTY AGAINST WHOM LIABILITY IS CLAIMED HAS BEEN ADVISED OF THE POSSIBILITY
OF SUCH LOSS OR DAMAGE, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED REMEDY OF ITS ESSENTIAL PURPOSE.

 

11. Indemnification.

 

11.1 Indemnification
by Licensor. Licensor shall indemnify, defend, and hold harmless Licensee and its Affiliates, and each of Licensee’s
and its Affiliates’ respective officers, directors, employees, agents, successors, and assigns (each, an “Indemnitee”)
against all Losses arising out of or resulting from any third-party claim, suit, action, or proceeding (each an “Action”)
related to, arising out of, or resulting from Licensor’s breach of any representation, warranty, covenant, or obligation
under this Agreement, except in each case to the extent any Actions are caused by an Indemnitee’s gross negligence or willful
misconduct.

 

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11.2 Indemnification
by Licensee. Licensee shall indemnify, defend, and hold harmless Licensor and its Affiliates, and each of Licensor’s
and its Affiliates’ respective officers, directors, employees, agents, successors, and assigns (each, an “Indemnitee”)
against all Losses arising out of or resulting from any third-party claim, suit, action, or proceeding (each an “Action”)
related to, arising out of, or resulting from Licensee’s breach of any representation, warranty, covenant, or obligation
under this Agreement, except in each case to the extent any Actions are caused by an Indemnitee’s gross negligence or willful
misconduct.

 

11.3 Indemnification
Procedure. An Indemnitee shall promptly notify the Licensor in writing of any Action and cooperate with Licensor at
Licensor’s sole cost and expense. Licensor shall immediately take control of the defense and investigation of the Action
and shall employ counsel reasonably acceptable to Indemnitee to handle and defend the same, at Licensor’s sole cost and
expense. Licensor shall not settle any Action in a manner that adversely affects the rights of any Indemnitee without the Indemnitee’s
prior written consent. The Indemnitee’s failure to perform any obligations under this Section 11.3
shall not relieve Licensor of its obligation under this Section 11.3 except
to the extent Licensor can demonstrate that it has been materially prejudiced because of the failure. The Indemnitee may participate
in and observe the proceedings at its own cost and expense with counsel of its own choosing.

 

12. Term
and Termination.

 

12.1
Term. This Agreement is effective as of the Effective Date and, unless terminated earlier in accordance with Section
12.2, will continue in full force and remain in effect until the expiration or abandonment
of all issued patents and filed patent applications within the Licensed Patent, unless earlier terminated in accordance with the
provisions of this Agreement (the “Term”).

 

12.2 Termination.

 

(a) Licensee
may terminate this Agreement at any time without cause, and without incurring any additional penalty, (i) by providing at least
thirty (30) days’ prior written notice to Licensor, such notice to state the date at least thirty (30) days in the future
upon which termination is to be effective, and (ii) upon payment of all amounts due to Licensor through such termination effective
date.

 

(b) Either
Party may terminate this Agreement on written notice to the other Party if the other Party materially breaches this Agreement and
fails to cure such breach within sixty (60) days after receiving written notice thereof.

 

(c) Nonpayment.
In the event Licensee fails to pay any amounts due and payable to Licensor hereunder, and fails to make such payments within thirty
(30) days after receiving written notice of such failure, Licensor may terminate this Agreement upon thirty (30) day written notice
to Licensee.

 

    14

     

    

 

12.3 Termination
as a consequence of Patent Challenge.

 

(a) By
Licensee. If Licensee or any of its Affiliates brings a Patent Challenge against Licensor, or assists others in bringing a
Patent Challenge against Licensor (except as required under a court order or subpoena), then Licensor may immediately terminate
this Agreement.

 

(b) By
Sublicensee. If a Sublicensee brings a Patent Challenge or assists another party in bringing a Patent Challenge (except as
required under a court order or subpoena), then Licensor may send a written demand to Licensee to terminate such sublicense. If
Licensee fails to so terminate such sublicense within thirty (30) days after Licensor’s demand, Licensor may immediately
terminate this Agreement.

 

12.4 Effect
of Termination. On any expiration or termination of the entirety of this Agreement, Licensor shall (a) return to Licensee
all documents and tangible materials (and any copies) containing, reflecting, incorporating, or based on Licensee’s Confidential
Information; (b) permanently erase Licensee’s Confidential Information from its computer systems; and (c) certify in writing
to Licensee that it has complied with the requirements of this Section 12.4.

 

12.5 Survival.
The rights and obligations of the Parties set forth in this Section 12.5 and Section 1 (Definitions), Section 8 (Confidentiality),
Section 8.3(b) (Representations and Warranties), Section 11 (Indemnification),
Section 12.4 (Effect of Termination), and Section 13 (Miscellaneous), and any right, obligation, or required performance of the
Parties in this Agreement which, by its express terms or nature and context is intended to survive termination or expiration of
this Agreement, will survive any such termination or expiration.

 

13. Miscellaneous.

 

13.1 Bankruptcy.
All rights and licenses granted by Licensor under this Agreement are and will be deemed to be rights and licenses to “intellectual
property” as such term is used in, and interpreted under, Section 365(n) of the United States Bankruptcy Code (the “Bankruptcy
Code”) (11 U.S.C. § 365(n)). Licensee has all rights, elections, and protections under the Bankruptcy Code and all
other bankruptcy, insolvency, and similar laws with respect to the Agreement, and the subject matter hereof. Without limiting the
generality of the foregoing, Licensor acknowledges and agrees that, if Licensor or its estate shall become subject to any bankruptcy
or similar proceeding:

 

(a) subject
to Licensee’s rights of election under Section 365(n), all rights, licenses, and privileges granted to Licensee under this
Agreement will continue subject to the respective terms and conditions hereof, and will not be affected, even by Licensor’s
rejection of this Agreement; and

 

(b) Licensee
shall be entitled to a complete duplicate of, or complete access to, as appropriate, all such intellectual property and embodiments
of intellectual property, which, if not already in Licensee’s possession, shall be promptly delivered to Licensee or its
designee, unless Licensor elects to and does in fact continue to perform all of its obligations under this Agreement.

 

    15

     

    

 

13.2 Further
Assurances. Each Party shall, and shall cause their respective Affiliates to, upon the request, and at the sole cost
and expense, of the other Party, promptly execute such documents and take such further actions as may be necessary to give full
effect to the terms of this Agreement.

 

13.3 Independent
Contractors. The relationship between the Parties is that of independent contractors. Nothing contained in this Agreement
creates any agency, partnership, joint venture, or other form of joint enterprise, employment, or fiduciary relationship between
the parties, and neither Party has authority to contract for or bind the other Party in any manner whatsoever.

 

13.4 Notices.
All notices, requests, consents, claims, demands, waivers, and other communications [(other than routine communications having
no legal effect)] must be in writing and sent to the respective Party at the addresses indicated below (or such other address for
a Party as may be specified in a notice given in accordance with this Section):

 

	
         If to Licensor:
	
        SILO PHARMA, INC.

        560 Sylvan Ave, Suite 3160

        Englewood Cliffs NJ 07632

        E-mail: eric@silopharma.com

        Attention: Eric Weisblum, CEO

         

	 If to Licensee:	
        AIKIDO PHARMA INC.

        One Rockefeller Plaza, 11th Floor

        New York, New York 10020

        E-mail: bogando@aikidopharma.com; ahayes@aikidopharma.com; ddotson@aikidopharma.com

        Attention:Anthony Hayes, CEO

 

Notices sent in accordance
with this Section 13.4 will be deemed effective: (a) when received or delivered by hand (with written confirmation of receipt);
(b) when received, if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile
or e-mail (in each case, with confirmation of transmission) if sent during normal business hours of the recipient, and on the next
Business Day if sent after normal business hours of the recipient; or (d) on the tenth (10th) Business Day after the
date mailed, by certified or registered mail, return receipt requested, postage prepaid.

 

13.5 Interpretation.
For purposes of this Agreement, (a) the words “include,” “includes,” and “including” will
be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c)
the words “herein,” “hereof,” “hereby,” “hereto,” and “hereunder”
refer to this Agreement as a whole.

 

Unless the
context otherwise requires, references herein to: (a) Sections and Schedules refer to the Sections of and Schedules contained in
or attached to this Agreement; (b) an agreement, instrument, or other document means such agreement, instrument, or other document
as amended, supplemented, and modified from time to time to the extent permitted by the provisions thereof; and (c) a statute means
such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder.
This Agreement will be construed without regard to any presumption or rule requiring construction or interpretation against the
Party drafting an instrument or causing any instrument to be drafted.

 

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13.6 Headings.
The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

13.7 Entire
Agreement. This Agreement, together with all Schedules and any other documents incorporated herein by reference, constitutes
the sole and entire agreement of the Parties with respect to the subject matter contained herein, and supersedes all prior and
contemporaneous understandings and agreements, both written and oral, with respect to such subject matter. In the event of any
conflict between the terms and provisions of this Agreement and those of any Schedule or other document, the following order of
precedence will govern: (a) first, this Agreement, excluding its Schedules; and (b) second, the Schedules to this Agreement as
of the Effective Date; and (c) third, any other documents incorporated herein by reference.

 

13.8 Assignment.
Licensee may freely assign or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its
obligations or performance, under this Agreement without Licensor’s consent. This Agreement is binding upon and inures to
the benefit of the Parties hereto and their respective permitted successors and assigns.

 

13.9 No
Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or will confer upon any other Person any legal or
equitable right, benefit, or remedy of any nature whatsoever, under, or by reason of this Agreement.

 

13.10 Amendment;
Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed
by each Party. No waiver by any Party of any of the provisions hereof will be effective unless explicitly set forth in writing
and signed by the waiving Party. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising,
any rights, remedy, power, or privilege arising from this Agreement will operate or be construed as a waiver thereof; nor will
any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, power, or privilege.

 

13.11 Severability.
If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality,
or unenforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon a determination that any term or other provision is invalid, illegal, or unenforceable,
the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.

 

13.12 Governing
Law; Submission to Jurisdiction.  

 

(a) This
Agreement and all related documents, and all matters arising out of or relating to this Agreement, are governed by, and construed
in accordance with, the laws of the State of New York, United States of America, without regard to the conflict of laws provisions
thereof to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other than
those of the State of New York.

 

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(b) Any
legal suit, action, or proceeding arising out of or related to this Agreement or the licenses granted hereunder, or the validity
or enforceability or scope of any Licensed Patent claim, or whether a Licensed Product infringes a Valid Claim must be instituted
exclusively in the federal courts of the United States or the courts of the State of New York, in each case located in the city
of New York and County of New York, and each Party irrevocably submits to the exclusive jurisdiction of such courts in any such
suit, action, or proceeding. Service of process, summons, notice, or other document by mail to such Party’s address set forth
herein will be effective service of process for any suit, action, or other proceeding brought in any such court.

 

13.13 Waiver
of Jury Trial. Each Party irrevocably and unconditionally waives any right it may have to a trial by jury in respect
of any legal action arising out of or relating to this Agreement or the transactions contemplated hereby.

 

13.14 Equitable
Relief. Each Party acknowledges that a breach by the other Party of may cause the non-breaching Party irreparable harm,
for which an award of damages would not be adequate compensation, and agrees that, in the event of such a breach or threatened
breach, the non-breaching Party will be entitled to seek equitable relief, including in the form of a restraining order, orders
for preliminary or permanent injunction, specific performance, and any other relief that may be available from any court, and
the Parties hereby waive any requirement for the securing or posting of any bond or the showing of actual monetary damages in
connection with such relief. These remedies are not exclusive but are in addition to all other remedies available under this Agreement
at law or in equity, subject to any express exclusions or limitations in this Agreement to the contrary.

 

13.15 Attorneys’
Fees. In the event that any action, suit, or other legal or administrative proceeding is instituted or commenced by
either Party hereto against the other Party arising out of or related to this Agreement, the prevailing Party shall be entitled
to recover its reasonable attorneys’ fees and court costs from the non-prevailing Party.

 

13.16 Counterparts.
This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will be deemed
to be one and the same agreement. A signed copy of this Agreement delivered by e-mail, or other means of electronic transmission
(to which a signed PDF copy is attached) will be deemed to have the same legal effect as delivery of an original signed copy of
this Agreement.

 

[signature page
follows]

 

    18

     

    

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to
be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	 	SILO PHARMA, INC.
	 	 
	 	By	/s/ Eric Weisblum
	 	Name: 	Eric Weisblum
	 	Title:	CEO
	 	 	 
	 	AIKIDO PHARMA, INC.
	 	 
	 	By	/s/ Anthony Hayes
	 	Name:	Anthony Hayes
	 	Title:	CEO

 

    19

     

    

 

SchedULE
A

 

LICENSED PATENTS

 

U.S.
Provisional Patent Application No. 63/060,573, titled “Central Nervous System Delivery of Psilocybin,” filed August
3, 2020

 

U.S.
Provisional Patent Application No. 63/060,569, titled “Central Nervous System Delivery of Nonsteroidal Anti-Inflammatory
Drugs and Psilocybin,” filed August 3, 2020

 

U.S.
Provisional Patent Application No. 63/060,577, titled “Central Nervous System Delivery of Nonsteroidal Anti-Inflammatory
Drugs and Psilocybin,” filed August 3, 2020

 

U.S.
Provisional Patent Application No. 63/24,827, titled “Use of Psilocybin in Cancer Treatment,” filed December 13, 2020.

 

    20

    

    

 

SchedULE
B

 

UMB PATENTS

 

U.S.
Provisional 62/444,776, titled “Central Nervous System Homing Peptides and Uses Thereof,” filed January 10, 2017

 

PCT Application
PCT/US2018/013159, titled “Central Nervous System Homing Peptides and Uses Thereof,” filed January 10, 2018

 

U.S.
Patent Application 16/477,125, titled “Central Nervous System Homing Peptides and Uses Thereof,” filed July 10, 2019

 

    21

    

    

 

Exhibit
1

 

COMMERCIAL EVALUATION LICENSE AND OPTION
AGREEMENT BETWEEN UNIVERSITY OF MARYLAND, BALTIMORE, AND SILO PHARMA, INC.

 

 

 

    22

    

    

 

EXHIBIT 2

 

ASSIGNMENT OF LICENSED PATENTS TO SILO
PHARMA, INC.

 

 

 

23

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