Document:

Office Lease

 EXHIBIT 10.32 

AMENDMENT TO LICENSE AGREEMENT 

Re: License Agreement, dated as of 03/01/2009, by and between Immuno Cellular Therapeutics as Client and Regent Business Centers Woodland Hills, LLC as
Licensor. 
 The above referenced Agreement is hereby amended subject to the following modifications or revisions. 

 

	1.	The term set forth in the Agreement is hereby extended. The renewal term will commence on 4/1/2010 and will expire on 3/31/2011. 

 

	2.	The Fixed Monthly Office Fee for the Renewal Term shall be $2,778.53 subject to any modifications and/or revisions, which may be agreed to by both Regent and Client.

 All capitalized terms used in the Agreement shall have the same meaning as set forth in and defined in the License Agreement.

 Except as set forth herein, all other terms and conditions of the License Agreement shall remain in full force and effect. 

Agreed to: 

Dated:    4/1/2010 
  

			
	Client:
		
	By:	 	/s/ Manish Singh
	Name:	 	Manish Singh

  

			
	Regent Busienss Centers Woodland Hills, LLC.
		
	By:	 	/s/ Flor Garcia
	Name:	 	Flor GarciaModification Agreement

 EXHIBIT 10.33 

 

 

 May 2, 2010 

Socius Life Sciences Capital Group, LLC 
 11150
Santa Monica Boulevard, Suite 1500 
 Los Angeles, California 90025 

RE: Modification of Certain Provisions in Stock Purchase Agreement and Warrant 

Ladies and Gentlemen: 

Reference is made to the Preferred Stock Purchase Agreement, effective as of December 3, 2009 (the “Purchase
Agreement”), between ImmunoCellular Therapeutics, Ltd., a Delaware corporation (the “Company”), and Socius Capital Group, LLC, a Delaware limited liability company, dba Socius Life Sciences Capital Group, LLC (the
“Investor”), and to Warrant No. 2009-1 (the “Warrant”) issued by the Company on December 3, 2009 to Socius CG II, Ltd., a Bermuda exempted company (the “Holder”). The Warrant grants the
Holder the right to purchase up to 27,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at the exercise price and on the other terms and conditions set forth therein and in the
Purchase Agreement. Capitalized terms used in this letter (“Modification Letter”) but not otherwise defined shall have the meaning set forth in the Purchase Agreement and the Warrant. 

On the date hereof the Company has delivered to Investor a Tranche Notice under the Purchase Agreement for the purchase of $4,000,000
worth (400 shares) of Series A Preferred Stock (the “Tranche Preferred Shares”). Pursuant to the Warrant, upon delivery of the Tranche Notice, a portion of the Warrant equal to 135% of the amount of the Tranche Purchase Price
($5,400,000) became exercisable. 
 Pursuant to Section 6.3 of the Purchase Agreement and Article 8 of the
Warrant, the Company and the Investor with respect to the Purchase Agreement, and the Company and the Holder with respect to the Warrant, hereby agree as follows. 
  

	 	1.	The “Exercise Price” for the Warrant Tranche, as defined in Section 1.2.1(ii) of the Warrant, will be $2.00 per share rather than the amount
specified therein. This will result in 2,700,000 shares ($5,400,000 divided by $2.00) becoming immediately exercisable under the Warrant. 

  

	 	2.	Immediately following the execution by both parties of this Modification Letter, the Holder shall deliver an Exercise Notice to the Company in order to effect the
exercise of the Warrant with respect to 1,675,000 Warrant Shares at an exercise price of $2.00 per share, and shall also deliver a Recourse Note in the amount of the aggregate exercise price of $3,350,000, all in accordance with the procedures set
forth in the Warrant (the “Exercise”). 

  

	 	3.	Each of the Company, the Holder and the Investor acknowledges that delivery of the Warrant Shares pursuant to the Exercise will result in the Investor and/or the Holder
beneficially owning more than 4.99% of all of the Common Stock outstanding on the Exercise Date (as determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder). Accordingly, each of the
Company and the Holder hereby waives the 4.99% exercise limitation set forth in Section 1.5 of the Warrant, such that such exercise limitation shall be 9.99% rather than 4.99% with respect to the Exercise. 

 

 

 Socius Life Sciences Capital Group, LLC 

May 2, 2010 
 Page 2 of 3 

 

	 	4.	The Company and the Investor hereby waive the requirement in Section 2.3(f)(i) of the Purchase Agreement, which specifies that the Tranche Closing Date
shall be 10 Trading Days following the Tranche Notice Date, and agree that the Tranche Closing Date with respect to the $4 million Tranche shall instead be the date hereof. 

 

	 	5.	The Investor hereby waives application of Section 2.3(g) of the Purchase Agreement with respect to the $4 million Tranche. This waiver shall not apply to
any other Tranche under the Purchase Agreement unless the Investor expressly agrees to such further waiver in its sole discretion. 

  

	 	6.	The Company and the Investor agree that, no later than the Trading Day following the date hereof, the Company shall, by filing with the Delaware Secretary of State an
amendment to the Certificate of Designations of Preferences, Rights and Limitations of Series A Preferred Stock (“Certificate of Designations”), amend the Certificate of Designations to allow for immediate redemption by the Company
of the Series A Preferred Stock at a price per share equal to 135% of the Original Series A Issue Price (adjusted to cover the repayment of any accrued but unpaid dividends on the Series A Preferred Stock, net of any accrued but unpaid interest on
the Recourse Note). Accordingly, if for example the Company elects during the first year to redeem 200 shares of the Series A Preferred Stock, $2,700,000 in principal under the related Recourse Note will be offset and will cover in full the
redemption of the shares plus any accrued dividends on those shares, and any unpaid interest on such principal amount of the Recourse Note will be deemed to have been repaid in full by the Borrower. Immediately upon such amendment becoming
effective, the Company shall redeem a number of Preferred Shares equal in redemption price to the Recourse Note issued on the date hereof and shall pay such redemption price by offset of such Recourse Note. Upon additional exercises of the Warrant
that are paid for by issuance of additional Recourse Notes, the Company shall immediately redeem an additional number of Preferred Shares equal in redemption price to the amount of such additional Recourse Notes. 

 

	 	7.	In consideration for its agreement to enter into this Modification Letter and to grant Company the waivers contained herein, on the date hereof the Investor shall
receive from the Company the right to purchase up to 1,350,000 shares of Common Stock, exercisable at $2.50 per share for cash or on a cashless basis during a five-year period beginning on the date hereof. This right shall be granted under the
existing Warrant (which will result in issuance of registered shares to the Investor upon exercise) or, in the event the Company’s counsel determines that this right cannot be granted under the existing Warrant, then this right will be granted
under a newly issued warrant with the Company required to file a registration statement covering the underlying shares within 30 days after the date of the new warrant issuance, with such new warrant to be substantially in the form attached hereto
as Exhibit A. 

  

	 	8.	Except as modified or waived by this Modification Letter, the Purchase Agreement and the Warrant shall remain unchanged and shall continue in full force and effect.

  

	 	9.	All questions concerning the construction, validity, enforcement and interpretation of this Modification Letter shall be governed by and construed and enforced in
accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. If any party or parties shall commence an action or proceeding to enforce any provision of this Modification Letter, then the
prevailing party or parties in such action or proceeding shall be reimbursed by the non-prevailing party or parties for all attorneys’ fees and other costs and expenses reasonably incurred by the prevailing party or parties in connection with
the investigation, preparation and prosecution of such action or proceeding. 

 Socius Life Sciences Capital Group, LLC 

May 2, 2010 
 Page 3 of 3 

 

	 	10.	The Purchase Agreement, the Warrant and this Modification Letter, together with the exhibits and schedules hereto and thereto, collectively contain the entire
understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters. 

 

			
	Sincerely,
	
	IMMUNOCELLULAR THERAPEUTICS, LTD.
		
	By:	 	 /s/ Manish Singh

	Name:	 	Manish Singh, Ph.D.
	Title:	 	President and Chief Executive Officer

 Agreed to,
acknowledged and accepted: 
  

			
	SOCIUS CG II, LTD.
		
	By:	 	 /s/ Terren Peizer

	Name:	 	Terren Peizer
	Title:	 	Managing Director

  

			
	SOCIUS LIFE SCIENCES CAPITAL GROUP, LLC
		
	By:	 	 /s/ Terren Peizer

	Name:	 	Terren Peizer
	Title:	 	Managing Director

 Exhibit A 

Form of Common Stock WarrantThird Amendment to Exclusive License Agreement

 EXHIBIT 10.35 

THIRD AMENDMENT 

TO EXCLUSIVE LICENSE AGREEMENT 

THIS THIRD AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT (this “Amendment”) is made and entered into as of March 26, 2010
(“Effective Date”), by and between Cedars-Sinai Medical Center, a California nonprofit public benefit corporation (“CSMC”), and ImmunoCellular Therapeutics, Ltd., a Delaware corporation (“Licensee”), under the following
circumstances: 
  

	 	A.	CSMC and Licensee entered into an Exclusive License Agreement dated November 17, 2006 (the “Agreement”), whereby CSMC granted to Licensee an exclusive
license to use the Patent Rights and the Technical Information (as such terms are defined in the Agreement) pursuant to the terms and conditions of the Agreement. 

 

	 	B.	The parties desire to amend the Agreement to revise the list of Milestones set forth in Exhibit D thereto, as further described herein. 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and in the Agreement and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

1. Recitals; Defined Terms. The parties hereby acknowledge and agree that Recital A is true and accurate. Terms not
otherwise defined herein shall have the meaning ascribed to them in the Agreement. 
 2. Amendment to Agreement.
Exhibit D (Milestones) of the Agreement is hereby amended and restated in its entirety in the form set forth in Attachment A hereto. 

3. Other Provisions. This Amendment is a revision to the Agreement only, it is not a novation thereof. Except as otherwise
provided herein, the terms and conditions of the Agreement shall remain in full force and effect. Upon the Effective Date, each reference in the Agreement to “this Agreement”, “hereunder”, “herein”, “hereof”
or words of like import referring to the Agreement shall mean and refer to the Agreement as amended by this Amendment. 
 4.
Reaffirmation of Representations and Warranties. Licensee and CSMC each reaffirms each of its representations and warranties set forth in the Agreement as if such representations and warranties were set forth in full in this Amendment.
Licensee also acknowledges to CSMC that, as of the date of this Amendment (and reflecting the revised milestones set forth in Attachment A hereto), it is not in default under the Agreement, nor has it breached any of the provisions of
the Agreement. Licensee affirms to CSMC that, as of the date of this Amendment, it does not, to its best knowledge, have any defenses, offsets or counterclaims against CSMC with respect to the Agreement. 

 5. Further Assurances. Each of the parties hereto shall execute such further
documents and instruments, and do all such further acts, as may be necessary or required in order to effectuate the intent and accomplish the purposes of this Amendment. 

6. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which taken together shall constitute one and the same instrument. 

*        *        *      
  *        * 
 IN WITNESS WHEREOF, the parties have executed this Amendment to
Exclusive License Agreement as of the day and year first above written. 
  

									
	Dated: March     , 2010	 		 	CEDARS-SINAI MEDICAL CENTER
				
		 		 	By:	 	 /s/ Edward M. Prunchunas

		 		 		 	Name:	 	Edward M. Prunchunas
		 		 		 	Title:	 	Senior Vice President & CFO
				
		 		 	By:	 	 /s/ Richard S. Katzman

		 		 		 	Name:	 	Richard S. Katzman
		 		 		 	Title:	 	Vice President for Academic Affairs
			
	Dated: March     , 2010	 		 	IMMUNOCELLULAR THERAPEUTICS, LTD.
				
		 		 	By:	 	 /s/ Manish Singh

		 		 		 	Name:	 	Manish Singh
		 		 		 	Title:	 	President and Chief Executive Officer

  

			
	ACKNOWLEDGED AND AGREED:
	
	INVENTOR
		
	By:	 	 /s/ John Yu

		 	John Yu, M.D.

 Attachment A 

SCHEDULE D 

MILESTONES 

1. On or before March 31, 2007, Licensee shall initiate a Phase I clinical trial for at least one (1) Product consistent with
sound business practices and judgment. 
 2. On or before December 31, 2008, Licensee shall have raised at least an
additional $5,000,000 in funding through one or more sources, including equity or debt financing or government or private grants; provided, however that this milestone shall not apply in the event Licensee has secured a sublicensee in compliance
with the terms of this Agreement who has agreed to perform at its expense or to otherwise fund all or substantially all of the costs of completing a Phase II clinical trial for at least one Product consistent with sound business practices and
judgment. 
 3. On or before September 30, 2011, Licensee shall either initiate a Phase II clinical trial for its
first product (ICT-107) or shall initiate a Phase I clinical trial for a second Product, in each case consistent with sound business practices and judgment. 

4. On or before December 31, 2010, Licensee shall have raised at least an additional $2,500,000 in funding through one or more
sources, including equity or debt financing or government or private grants or license payments from any licensee or sublicensee of Licensee (collectively, “Funding”), and on or before September 30, 2011, Licensee shall have raised a
further $2,500,000 in Funding in addition to the foregoing $2,500,000 Funding to be raised by December 31, 2010; provided, however that this milestone shall not apply in the event Licensee has secured a sublicensee in compliance with the terms
of this Agreement who has agreed to perform at its expense or to otherwise fund all or substantially all of the costs of completing a Phase II clinical trails for ICT-107 or a Phase I clinical trial for ICT-121. 

5. On or before March 31, 2012, Licensee shall initiate a Phase II clinical trial for at least one product consistent with sound
business practices and judgment. 
 6. On or before December 31, 2014, Licensee shall initiate a Phase III clinical trial
for at least one Product consistent with sound business practices and judgment. 
 7. On or before December 31, 2013,
Licensee shall have raised at least an additional $10,000,000 in Funding; provided, however, that this milestone shall not apply in the event Licensee has secured a sublicensee in compliance with the terms of this Agreement who has agreed to perform
at its expense or to otherwise fund all or substantially all of the costs of completing a Phase III clinical trial for at least one Product consistent with sound business practices and judgment. 

8. On or before December 31, 2015, Licensee shall file for marketing approval with the FDA for at least one Product consistent with
sound business practices and judgment. 
  

 A - 1

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