Document:

CONFIDENTIAL TREATMENT REQUESTED.
Confidential portions of this document have been redacted and have been separately filed with the Commission.

 

Exhibit No.
10.1

 

 

 

JOINT
VENTURE AND LICENSE OPTION AGREEMENT

 

BY
AND BETWEEN

 

TG
THERAPEUTICS, INC.

 

AND

 

RHIZEN
PHARMACEUTICALS S A

  

 

 

    	 

    	 

    

 

This
JOINT VENTURE AND LICENSE OPTION AGREEMENT (the “Agreement”) is entered into on August 15, 2012 (the
“Effective Date”) between Rhizen Pharmaceuticals S A, a company incorporated under the laws of Switzerland,
with a place of business at Fritz-Courvoisier 40, CH-2300 La Chaux-de-Fonds, Switzerland (“Rhizen”), and TG
Therapeutics, Inc., a Delaware corporation, with a place of business at 787 Seventh Avenue, New York, NY (“TGTX”).
Rhizen and TGTX are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.

 

RECITALS

 

WHEREAS,
Rhizen is a pharmaceutical company focused on the development of novel inhibitors
of PI3Kδ for the treatment of various B-cell proliferative diseases;

 

WHEREAS,
TGTX is a biopharmaceutical company engaged in the development, manufacturing and marketing of pharmaceutical products directed
toward the treatment of B-cell proliferative diseases;

 

WHEREAS,
pursuant to that executed letter of intent between TGTX and Rhizen, dated May 31, 2012, the Parties expressed desire to form a
joint venture to facilitate development of the PI3Kδ Products (as
hereinafter defined) as a single agent and in Combination (as defined below)
with the option to convert to a license;

 

WHEREAS,
Rhizen and TGTX desire to establish a contractual Joint Venture (“JV”) with an aim for broad collaboration under this
Agreement for the joint development and commercialization of the Product (as defined below) on a worldwide basis, other than India,
for the treatment of B-cell proliferative diseases and such other indications as the Parties may jointly or unilaterally develop
with TGTX serving as the primary responsible Party for the clinical development and commercialization and Rhizen serving as the
primary responsible Party for the non-clinical and CMC aspects of the program;

 

WHEREAS,
the Parties desire that Rhizen manufacture or have manufactured clinical and commercial supplies of the Finished Product (as hereinafter
defined) for use by both Parties hereunder;

 

WHEREAS,
TGTX will be responsible for the clinical development and commercialization of the Product in the Territory and the Parties shall
share equally (subject to adjustment as more fully described in this Agreement) in the costs and efforts for the purpose of and
in the profits resulting from marketing and sales of the Product in the Territory in accordance with the terms set forth below;
and

 

WHEREAS,
Rhizen desires to grant to TGTX exclusive rights to the Products and certain backup compounds in the Territory for the joint development
and commercialization of the Product, under this Agreement, and TGTX desires to obtain such rights for the joint development and
commercialization of the Product in each case on the terms set forth below;

 

NOW
THEREFORE, in consideration of the foregoing premises and mutual promises, covenants and conditions contained in this Agreement,
the Parties agree as follows:

 

    	 

    	 

    

   

ARTICLE
1

 

  

DEFINITIONS

 

  

The
terms in this Agreement with initial letters capitalized, whether used in the singular or the plural, shall have the meaning set
forth below or, if not listed below, the meaning designated in places throughout this Agreement.

 

		1.1	“Adverse
                                                                   Event” means any untoward medical occurrence in a
                                                                   human clinical trial subject or in a patient who is administered
                                                                   a Compound or Product, whether or not considered related to
                                                                   the Compound or Product, including any undesirable sign (including
                                                                   abnormal laboratory findings of clinical concern), symptom
                                                                   or disease associated with the use of a Compound or Product,
                                                                   as defined more fully in 21 CFR §312.32.

 

		1.2	“Affiliate”
                                                                   means, with respect to a particular Party, a person, corporation,
                                                                   partnership, or other entity that controls, is controlled by
                                                                   or is under common control with such Party. For the purposes
                                                                   of this definition, the word “control” (including,
                                                                   with correlative meaning, the terms “controlled by”
                                                                   or “under the common control with”) means the actual
                                                                   power, either directly or indirectly through one or more intermediaries,
                                                                   to direct or cause the direction of the management and policies
                                                                   of such entity, whether by the ownership of fifty percent (50%)
                                                                   or more of the voting stock of such entity, or by contract
                                                                   or otherwise.

 

		1.3	“Alliance
                                                                   Representative” has the meaning set forth in Section
                                                                   24.

 

		1.4	“Backup
                                                                   Compound” means any two (2) compounds other than
                                                                   RP5264 as provided in Exhibit G Controlled by Rhizen as of
                                                                   the Effective Date and/or developed during the Term, which
                                                                   (i) falls within the chemical genus provided in Exhibit B,
                                                                   and (ii) has targeted nanomolar potency (≤ 50 nM) in an
                                                                   in vitro enzyme assay against the PI3Kδ
                                                                   target and targeted specificity of no less than 20x
                                                                   compared to the PI3K
                                                                   α, β, and γ isoforms. However, this
                                                                   targeted specificity will not be used to exclude consideration
                                                                   of individual backup compounds by JSC, or to limit the ability
                                                                   of JSC to select particular backup candidates for further development
                                                                   provided
                                                                   that targeted PI3Kδ specificity is no less than 8x compared
                                                                   to PI3K α, β, and γ isoform. The initial
                                                                   list of the Backup Compounds is attached hereto as Exhibit
                                                                   G and shall be updated from time to time by Rhizen and provided
                                                                   to JSC promptly. The list of the Backup Compounds thus updated
                                                                   shall include any compound which falls in the above definition
                                                                   which are discovered or developed by Rhizen during the Term.

 

		1.5	“Bulk
                                                                   API” means any of the Compounds in bulk form.

 

		1.6	“Business
                                                                   Day” means any day other than (i) Saturday or Sunday
                                                                   or (ii) any other day on which banks in New York, New York,
                                                                   United States, Switzerland, or Mumbai, India are permitted
                                                                   or required to be closed.

 

		1.7	“Cause”
                                                                   means, for purposes of Section 13.(b), any unfavorable
                                                                   result from a pre-clinical or Clinical Trial that, as reasonably
                                                                   determined by TGTX, causes material concerns regarding the
                                                                   tolerability, safety or effectiveness of the Product.

 

    	 

    	 

    

 

		1.8	“Change
                                                                   of Control” means (i) the acquisition, directly or
                                                                   indirectly, by any person, entity or “group” (within
                                                                   meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
                                                                   Act of 1934, as amended) by means of a transaction or series
                                                                   of related transactions, of (a) beneficial ownership of fifty
                                                                   percent (50%) or more of the outstanding voting securities
                                                                   of a Party (or the surviving entity, as applicable, whether
                                                                   by merger, consolidation, reorganization, tender offer or other
                                                                   similar means), or (b) all, or substantially all, of the assets
                                                                   of a Party; or (ii) any consolidation or merger of a Party
                                                                   with or into any Third Party, or any other corporate reorganization
                                                                   involving a Third Party, in which those persons or entities
                                                                   that are stockholders of the Party immediately prior to such
                                                                   consolidation, merger or reorganization (or prior to any series
                                                                   of related transactions leading up to such event) own fifty
                                                                   (50%) or less of the surviving entity’s voting power
                                                                   immediately after such consolidation, merger or reorganization

 

		1.9	“Claims”
                                                                   has the meaning set forth in Section 11.1.

 

		1.10	           “Clinical
                                                                    Trial” means, collectively, any Phase I Clinical
                                                                    Trial, Phase II Clinical Trial, Phase III Clinical Trial,
                                                                    or Phase IV Clinical Trial, as applicable.

 

		1.11	           “CTA”
                                                                    means an application for Clinical Trial Authorization
                                                                    filed with a Regulatory Authority in the Territory to undertake
                                                                    clinical trials of an investigational new drug, the filing
                                                                    of which is necessary to commence or conduct clinical testing
                                                                    of a pharmaceutical product in humans in the Territory outside
                                                                    the U.S. 

 

		1.12	           “Commercial
                                                                    Expenses” means those expenses incurred for the
                                                                    purpose of the Commercialization of the Finished Product which
                                                                    are consistent with the budget set forth in the Commercialization
                                                                    Plan and are specifically attributable to the Commercialization
                                                                    of Finished Products, and shall consist of (i) Cost of Goods
                                                                    Sold, (ii) Pre-Marketing Expenses, (iii) Marketing Expenses,
                                                                    (iv) Distribution Expenses, (v) Clinical Phase IV and Related
                                                                    Expenses, (vi) Regulatory Expenses, (vii) the Launch Expenses,
                                                                    (viii) Medical Science Liaison Expenses, and (ix) amounts
                                                                    paid to Third Party licensors as described in Section 8.4
                                                                    (as such terms are defined in Exhibit H). Commercial Expenses
                                                                    shall exclude Development Expenses, even if incurred after
                                                                    the first commercial launch of a Finished Product, and shall
                                                                    exclude any costs that are deductible from Net Sales under
                                                                    the definition thereof (e.g., distributor fees). For
                                                                    avoidance of doubt, any cost deducted in the calculation of
                                                                    Net Sales shall not be included in the calculation of the
                                                                    Commercial Expenses. 

 

		1.13	           “Commercialization”,
                                                                    with a correlative meaning for “Commercialize”,
                                                                    means all activities undertaken before and after obtaining
                                                                    Regulatory Approval relating specifically to the pre-marketing,
                                                                    launch, promotion, marketing, sale, and distribution of a
                                                                    pharmaceutical product, including: (a) strategic marketing,
                                                                    sales force detailing, advertising, medical education and
                                                                    liaison, and market and product support; and (b) any Phase
                                                                    IV Clinical Trials, and (c) all customer support and Product
                                                                    distribution, invoicing and sales activities.

 

		1.14	           “Combination”
                                                                    shall mean a Co-administration of Product combining a
                                                                    PI3K δ inhibitor together with any other active pharmaceutical
                                                                    ingredient.

 

		1.15	           “Commercialization
                                                                    Plan” has the meaning set forth in Section 5.2(b).

 

		1.16	           “Confidential
                                                                    Information” means, with respect to a Party, all
                                                                    confidential Information of such Party that is disclosed to
                                                                    the other Party under this Agreement, which may include specifications,
                                                                    know-how, trade secrets, legal information, technical information,
                                                                    drawings, models, business information, inventions, discoveries,
                                                                    methods, procedures, formulae, protocols, techniques, data,
                                                                    and unpublished patent applications, in the each case whether
                                                                    disclosed in oral, written, graphic, or electronic form. All
                                                                    Confidential Information disclosed by either Party pursuant
                                                                    to the Mutual Confidential Disclosure Agreement between the
                                                                    Parties dated April 27, 2012 shall be deemed to be such Party’s
                                                                    Confidential Information disclosed hereunder.

 

    	 

    	 

    

 

		1.17	           “Control”
                                                                    means, with respect to any material, Information, or intellectual
                                                                    property right, that a Party owns or has a license to such
                                                                    material, Information, or intellectual property right and
                                                                    has the ability to grant to the other Party access, a license,
                                                                    or a sublicense (as applicable) to such material, Information,
                                                                    or intellectual property right on the terms and conditions
                                                                    set forth herein without violating the terms of any agreement
                                                                    or other arrangement with any Third Party existing at the
                                                                    time such Party would be first required hereunder to grant
                                                                    to the other Party such access, license, or sublicense.
                                                                    

 

		1.18	           “Detail”
                                                                    or “Detailing” means, with respect to the
                                                                    Product, the communication by a Sales Representative during
                                                                    a sales call (a) involving face-to-face contact, (b) describing
                                                                    in a fair and balanced manner the Regulatory Authority-approved
                                                                    indicated uses and other relevant characteristics of the Product,
                                                                    (c) using promotional materials in an effort to increase the
                                                                    prescribing and/or hospital ordering preferences of the Product
                                                                    for its approved indicated uses, and (d) made at such medical
                                                                    professional’s office, in a hospital, at marketing meetings
                                                                    sponsored by a Party for the Product or other appropriate
                                                                    venues conducive to pharmaceutical product informational communication
                                                                    where the principal objective is to place an emphasis, either
                                                                    primary or secondary, on the Product with such medical professional.
                                                                    

 

		1.19	           “Develop”
                                                                    or “Development” means all activities relating
                                                                    to preparing and conducting preclinical testing, toxicology
                                                                    testing, human clinical studies, regulatory affairs for obtaining
                                                                    the Regulatory Approvals, formulation development, process
                                                                    development for manufacture and associated validation, quality
                                                                    assurance and quality control activities (including qualification
                                                                    lots). Development shall exclude all Phase IV Clinical Trials.

 

		1.20	           “Development
                                                                    Budget” means the budget of Development Expenses
                                                                    expected to be incurred by the Parties in connection with
                                                                    the performance of the Development Plan. 

 

		1.21	           “Development
                                                                    Expenses” means (i) any amounts payable by a Party
                                                                    for obligations to a Third Party for the Development performed
                                                                    on or after the completion of the Early Development Period,
                                                                    which expenses are generally consistent with the Development
                                                                    Plan, (ii) Manufacturing Development Expenses incurred by
                                                                    either Party on or
                                                                    after the completion of the Early Development Period,
                                                                    (iv) any amounts payable by a party for obligation to a third
                                                                    party for Clinical Trials (v) the cost of supply of Finished
                                                                    Product or bulk API used for the Development of the Product
                                                                    as well as the freight, postage, shipping, transportation,
                                                                    insurance, warehousing and handling charges paid with regard
                                                                    to such Finished Product or Bulk API.

 

		1.22	           “Development
                                                                    Plan” means the plan for Development in the Territory.
                                                                    The initial Development Plan is attached hereto as Exhibit
                                                                    D and covers through the completion of the Early Development
                                                                    Period. Exhibit D may be from time to time added or modified
                                                                    by the JSC.

 

		1.23	           “Diligent
                                                                    Efforts” means, with respect to a Party’s
                                                                    obligation under this Agreement to Develop or Commercialize
                                                                    a Product, the level of efforts and resources required to
                                                                    carry out such obligation in a sustained manner consistent
                                                                    with the efforts and resources a similarly situated biopharmaceutical
                                                                    company devotes to a product of similar market potential,
                                                                    profit potential or strategic value within its portfolio,
                                                                    based on conditions then prevailing i.e. it shall mean the
                                                                    efforts required in order to carry out a task or objective
                                                                    in a diligent and sustained manner without undue interruption,
                                                                    pause or delay, which level is at least commensurate with
                                                                    the level of efforts that a pharmaceutical company would devote
                                                                    to a product of similar potential and having similar commercial
                                                                    and scientific advantages and disadvantages as compared to
                                                                    the Product hereunder. Diligent Efforts requires (without
                                                                    limitation) that the Party exerting such efforts (i) promptly
                                                                    assign responsibility for its obligations to specific employee(s)
                                                                    or contractor(s) who are held accountable for progress and
                                                                    monitor such progress, on an ongoing basis, (ii) set and continue
                                                                    to seek to achieve specific and meaningful objectives for
                                                                    carrying out such obligations, and (iii) consistently make
                                                                    and implement decisions and allocate resources designed to
                                                                    advance progress with respect to such objectives, in each
                                                                    case in a diligent manner.

 

    	 

    	 

    

 

		1.24	           “Dollar”
                                                                    means a U.S. dollar, and “$” shall be interpreted
                                                                    accordingly.

 

		1.25	           “Early
                                                                    Development Period” shall be the time period from
                                                                    the Effective Date of this agreement to the occurrence of
                                                                    the * Patient Event. 

 

		1.26	           “EMA”
                                                                    means the European Medicines Agency, or any successor
                                                                    thereto, which is responsible for coordinating the centralized
                                                                    system for Regulatory Approval of pharmaceutical products
                                                                    in the European Union and the European Economic Area and recommending
                                                                    to the European Commission (the “EC”) that
                                                                    the EC grant Regulatory Approval of certain pharmaceutical
                                                                    products in the EU and EEA under such centralized system.

 

		1.27	           “European
                                                                    Union” or “EU” means all of the
                                                                    European Union member states as of the applicable time during
                                                                    the Term. 

 

		1.28	           “FDA”
                                                                    means the U.S. Food and Drug Administration or its successor.
                                                                    

 

		1.29	           “FD&C
                                                                    Act” means the U.S. Federal Food, Drug and Cosmetic
                                                                    Act, as amended. 

 

		1.30	           “Field”
                                                                    means the prevention, treatment or amelioration of any
                                                                    disease or condition in humans.

 

		1.31	           “Finished
                                                                    Manufacture” means the manufacture (and all reasonably
                                                                    necessary testing, including release and, as appropriate,
                                                                    stability testing) of Finished Product from Bulk API. 

 

		1.32	           “Finished
                                                                    Product” means a Product that has been filled into
                                                                    vials, syringes or capsules or manufactured into other pharmaceutical
                                                                    presentations for administration, such as tablets or pills;
                                                                    finished and labeled for use in clinical trials or for commercial
                                                                    purposes in accordance with the applicable specifications
                                                                    and legal requirements.

 

		1.33	           “Financial
                                                                    Force Majeure” shall mean any situation outside
                                                                    of either Party’s control that causes either Party to
                                                                    be unable to raise capital to continue the Development of
                                                                    the Product for some period of time, including without limitation,
                                                                    poor financing environment for biotech companies, product
                                                                    failure or delay or any similar factors forcing a delay in
                                                                    appropriate financing for either Party. 

 

		1.34	           “First
                                                                    Commercial Sale” means, with respect to a particular
                                                                    country, the first sale to a Third Party of the Product in
                                                                    such country after Regulatory Approval has been obtained in
                                                                    such country. 

 

		1.35	           “Fiscal
                                                                    Year” means the twelve (12)-month period commencing
                                                                    on January 1 of a given year and ending on December 31 of
                                                                    the following year.

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

		1.36	         “*Patient Event”
shall mean the occurrence of the completion of administration of Product to * patient in a Phase II trial (end of Early
Development Period) conducted by TGTX following establishment of optimal dosing for either single agent or Combination administration.

  

		1.37	         “Generic
                                                                    Product” means a drug product that (i) contains
                                                                    the same active ingredient as the Product where the Product
                                                                    is the reference-listed drug, and (ii) is approved by a Governmental
                                                                    Authority pursuant to an Abbreviated New Drug Application,
                                                                    an application under 21. U.S.C. §355(b) (2), or similar
                                                                    application.

 

		1.38	         “Good
                                                                    Clinical Practices” or “GCP”
                                                                    means the then-current good clinical practice standards, practices
                                                                    and procedures promulgated or endorsed by the FDA as set forth
                                                                    in the guidelines entitled “Guidance for Industry E6
                                                                    Good Clinical Practice: Consolidated Guidance,” including
                                                                    related regulatory requirements imposed by the FDA, and comparable
                                                                    regulatory standards, practices and procedures in jurisdictions
                                                                    outside the U.S., in each case as they may be updated from
                                                                    time to time. 

 

		1.39	         “Good
                                                                    Laboratory Practices” or “GLP”
                                                                    means the then-current good laboratory practice standards
                                                                    promulgated or endorsed by the FDA as defined in 21 C.F.R.
                                                                    Part 58, and comparable regulatory standards in jurisdictions
                                                                    outside the U.S., in each case as they may be updated from
                                                                    time to time. 

 

		1.40	         “Good
                                                                    Manufacturing Practices” or “GMP”
                                                                    means the then-current good manufacturing practices required
                                                                    by the FDA, as set forth in the FD&C Act and the regulations
                                                                    promulgated thereunder, for the manufacture and testing of
                                                                    pharmaceutical materials, and comparable Laws applicable to
                                                                    the manufacture and testing of pharmaceutical materials in
                                                                    jurisdictions outside the U.S., including without limitation
                                                                    21 CFR 211 (Current Good Manufacturing Practice for Finished
                                                                    Pharmaceuticals) and the guideline promulgated by the International
                                                                    Conference on Harmonization designated ICH Q7A, entitled “Q7A
                                                                    Good Manufacturing Practice Guidance for Active Pharmaceutical
                                                                    Ingredients” and associated guidelines and regulations,
                                                                    in each case as they may be updated from time to time.
                                                                    

 

		1.41	         “Governmental
                                                                    Authority” means any multi-national, federal, state,
                                                                    local, municipal or other government authority of any nature
                                                                    (including any governmental division, subdivision, department,
                                                                    agency, bureau, branch, office, commission, council, court
                                                                    or other tribunal). 

 

		1.42	         “IND”
                                                                    means (a) an Investigational New Drug application as defined
                                                                    in the FD&C Act and applicable regulations promulgated
                                                                    thereunder by the FDA or any successor application or procedure
                                                                    required to initiate clinical testing of a Product in humans
                                                                    in the Territory; and (b) all supplements and amendments to
                                                                    the foregoing. 

 

		1.43	         “IND/CTA
                                                                    Filing Conditions” means all mandatory preclinical
                                                                    enabling studies have been completed and the JSC determines
                                                                    that the data are sufficient for IND/CTA submission..

 

		1.44	         “IND/CTA
                                                                    Filing Deadline” means deadline determined by the
                                                                    JSC for the submission of the IND/CTA once the “IND/CTA
                                                                    Filing Conditions” are determined
                                                                    by the JSC to have been met.

 

		1.45	         “Information”
                                                                    means any data, results, technology, business information,
                                                                    and information of any type whatsoever, in any tangible or
                                                                    intangible form, including, without limitation, know-how,
                                                                    trade secrets, practices, techniques, methods, processes,
                                                                    inventions, developments, specifications, formulations, formulae,
                                                                    materials or compositions of matter of any type or kind (patentable
                                                                    or otherwise), software, algorithms, marketing reports, expertise,
                                                                    technology, test data (including pharmacological, biological,
                                                                    chemical, biochemical, toxicological, preclinical and clinical
                                                                    test data), analytical and quality control data, stability
                                                                    data, other study data and procedures. 

			

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

		1.46	         “Internal
                                                                    Expenses” means any costs for employees, overhead,
                                                                    or other internal handling incurred by a Party. 

 

		1.47	         “Joint
                                                                    Know-How”: shall mean all Know-How developed or
                                                                    acquired by either Party in performing its obligations pursuant
                                                                    to this Agreement that is necessary or useful for the Development,
                                                                    manufacture or Commercialization of the Product.

 

		1.48	         “Joint
                                                                    Steering Committee” or “JSC”
                                                                    means the committee formed by the Parties as described in
                                                                    Section 2.3(a). 

 

		1.49	         “Joint
                                                                    Inventions” has the meaning set forth in Section
                                                                    9.1. 

 

		1.50	         “Joint
                                                                    Patent” has the meaning set forth in Section 9.3(c).
                                                                    

 

		1.51	         “Laws”
                                                                    means all relevant laws, statutes, rules, regulations,
                                                                    guidelines having the binding effect of law, ordinances and
                                                                    other pronouncements having the effect of law of any federal,
                                                                    national, multinational, state, provincial, county, city or
                                                                    other political subdivision, domestic or foreign.

 

		1.52	         “License
                                                                    Options” shall collectively refer to the TGTX License
                                                                    Option and to the Rhizen License Option.

 

		1.53	         “Major
                                                                    Market(s)”: shall mean any of the following countries
                                                                    or groups of countries: (i) the United States of America;
                                                                    (ii) Canada; (iii) France, Germany, Italy, Spain, and the
                                                                    United Kingdom (each, a “Major European Market”);
                                                                    (iv) Japan; and (v) Russia, Brazil or China (each, a “Major
                                                                    BRIC Market”).

 

		1.54	         “Manufacturing
                                                                    Costs” has the meaning set forth in Exhibit H.

 

		1.55	         “Manufacturing
                                                                    Development” means any of the following with respect
                                                                    to Bulk API or Finished Product: manufacturing process development
                                                                    and validation, process improvements, associated analytical
                                                                    development and validation and the manufacture and testing
                                                                    of clinical and stability or consistency lots (including process
                                                                    development, qualification, QA, and test batches).

 

		1.56	         “Manufacturing
                                                                    Development Expenses” means any costs incurred by
                                                                    a Party to a Third Party after the Effective Date for the
                                                                    Manufacturing Development.

 

		1.57	         “Marketing
                                                                    Authorization Application” or “MAA”
                                                                    means an application for Regulatory Approval (but excluding
                                                                    Pricing Approval) in any particular jurisdiction other than
                                                                    the U.S. 

 

		1.58	         “NDA”
                                                                    means a “New Drug Application” (as more fully
                                                                    defined in 21 C.F.R. 314.5 et seq.) filed with the
                                                                    FDA or the equivalent application filed with any other Regulatory
                                                                    Authority to obtain Regulatory Aproval for a Product in a
                                                                    country or jurisdiction in the Territory.

 

		1.59	         “Net
                                                                    Sales” means, with respect to a particular time
                                                                    period, the total amounts received or invoiced by TGTX and
                                                                    its Affiliates and Subcontractors for sales of Finished Product
                                                                    made during such time period to unaffiliated Third Parties,
                                                                    less the following deductions to the extent actually allowed
                                                                    or incurred with respect to such sales:

 

    	 

    	 

    

 

		(a)	discounts,
                                                                     including cash, trade, and quantity discounts, retroactive
                                                                     price reductions, charge-back payments, and rebates actually
                                                                     granted or administrative fees actually paid to trade customers,
                                                                     patients (including those in the form of a coupon or voucher),
                                                                     managed health care organizations, pharmaceutical benefit
                                                                     managers, group purchasing organizations, federal, state,
                                                                     or local government and the agencies, purchasers and reimbursers
                                                                     of managed health organizations, pharmaceutical benefit managers,
                                                                     group purchasing organizations, or federal, state or local
                                                                     government;;

 

		(b)	credits
                                                                     or allowances actually granted upon prompt payment or losses
                                                                     actually incurred as a result of damaged goods, rejections
                                                                     or returns of such Product, including in connection with
                                                                     recalls, and all other reasonable and customary allowances
                                                                     and adjustments actually credited to customers.

 

		(c)	packaging,
                                                                     freight, postage, shipping, transportation, warehousing,
                                                                     handling and insurance charges, credit card processing fees
                                                                     and any customary payments with respect to the Products actually
                                                                     made to wholesalers or other distributors, in each case actually
                                                                     allowed or paid for distribution and delivery of Product,
                                                                     to the extent billed or recognized; and

 

		(d)	taxes,
                                                                     including sales taxes, excise taxes, value-added taxes, and
                                                                     other taxes (other than income taxes), duties, tariffs or
                                                                     other governmental charges levied on the sale of such Product,
                                                                     including, without limitation, value-added and sales taxes.

 

Notwithstanding
the foregoing, amounts received or invoiced by TGTX and its Affiliates, and subcontractors for the sale of Finished Product among
TGTX its Affiliates and Subcontractors shall not be included in the computation of Net Sales hereunder. In any event, any amounts
received or invoiced by TGTX and its Affiliates, or their Subcontractors shall be accounted for only once. Net Sales shall be
accounted for in accordance with US Generally Accepted Accounting Principles (“GAAP”) consistently applied. Net Sales
shall exclude any samples of Product transferred or disposed of at no cost for promotional or educational purposes, and the cost
for such samples transferred or disposed of shall be deemed to be included in the Commercial Expenses.

  

Further,
the Parties agree to negotiate in good faith for an equitable determination of the Net Sales of the Product in the event TGTX
or its Affiliates or its Subcontractors sells the Product in such a manner that gross sales of the Product are not readily identifiable
(e.g., for Product to be sold as a combination product or bundling with other products). In addition, for purposes of this
Agreement, “sale” shall mean any transfer or other distribution or disposition, but shall not include transfers or
other distributions or dispositions of Product at no charge for academic research, preclinical, clinical, or regulatory purposes
(including the use of a Product in Clinical Trials) or in connection with patient assistance programs or other charitable purposes
or to physicians or hospitals for promotional purposes (including free samples to a level and in an amount which is customary
in the industry and/or which is reasonably proportional to the market for such Product).

 

		1.60	“Notice
                                                                   to Rhizen” has the meaning set forth in Section 6.5.

 

		1.61	“Notice
                                                                   to TGTX” has the meaning set forth in Section 6.5.

 

		1.62	        “Patents”
                                                                    means (a) pending patent applications, including provisional
                                                                    patents, issued patents, utility models and designs; and (b)
                                                                    extensions, reissues, substitutions, confirmations, registrations,
                                                                    validations, re-examinations, additions, continuations, continued
                                                                    prosecution applications, requests for continued examination,
                                                                    continuations-in-part, or divisions of or to any patents,
                                                                    patent applications, utility models or designs.

 

    	 

    	 

    

 

		1.63	“Patent
                                                                   Term Extension” means any term extensions, supplementary
                                                                   protection certificates and equivalents thereof offering patent
                                                                   protection beyond the initial term with respect to any issued
                                                                   patents. 

 

		1.64	         “Patient”
                                                                         means any subject enrolled into any Phase I, II,
                                                                         or III Clinical Trial and administered at least one dose
                                                                         of the Product.

 

		1.65	         “Phase
                                                                         I Clinical Trial” means a small scale trial
                                                                         of a pharmaceutical product on subjects that generally
                                                                         provides for the first introduction into humans of such
                                                                         product with the primary purpose of determining safety,
                                                                         metabolism and pharmacokinetic properties, clinical pharmacology
                                                                         and any other properties of such product as per the study
                                                                         protocol design, as required by 21 C.F.R. 312(a) or a
                                                                         similar study in other countries.

 

		1.66	         “Phase
                                                                         II Clinical Trial” means a small scale clinical
                                                                         trial of a pharmaceutical product on patients, including
                                                                         possibly pharmacokinetic studies, the principal purposes
                                                                         of which are to make a preliminary determination that
                                                                         such product is safe for its intended use and to obtain
                                                                         sufficient information about such product’s efficacy
                                                                         to permit the design of further clinical trials, as required
                                                                         by 21 C.F.R. 312(b) or a similar study in other countries.

 

		1.67	         “Phase
                                                                         III Clinical Trial” means one or more clinical
                                                                         trials on sufficient numbers of patients, which trial(s)
                                                                         are designed to (a) establish that a drug is safe and
                                                                         efficacious for its intended use; (b) define warnings,
                                                                         precautions and adverse reactions that are associated
                                                                         with the drug in the dosage range to be prescribed; and
                                                                         (c) support Regulatory Approval of such drug, as required
                                                                         by 21 C.F.R. 312(c) or a similar study in other countries.

 

		1.68	         “Phase
                                                                         IV Clinical Trial” means a clinical trial of
                                                                         a Product, possibly including pharmacokinetic studies,
                                                                         which trial is (a) not required in order to obtain Regulatory
                                                                         Approval; (b) required by the Regulatory Authority as
                                                                         mandatory to be conducted on or after the Regulatory
                                                                         Approval, and (c) conducted voluntarily by a Party to
                                                                         enhance marketing or scientific knowledge of the Product
                                                                         (e.g., providing additional drug profile, safety
                                                                         data or marketing support information, or supporting
                                                                         expansion of Product Labeling) or conducted due to a
                                                                         request or requirement of a Regulatory Authority.

 

1.69         “PI3Kδ
Product” means Rhizen’s proprietary PI3Kδ inhibitor designated as RP-5264 with the chemical structure attached
hereto as Exhibit C and any Two (2) Backup Compounds.

 

1.70         “PI3Kδ
Inhibitor” shall mean a compound that binds to, and selectively and specifically inhibits PI3Kδ isoform
with no less than 20x compared to PI3K α, β, and γ isoform.

 

		1.71	         “Pivotal
                                                                         Data” shall mean results from any Phase II
                                                                         Clinical Trial or Phase III Clinical Trial that is designed
                                                                         to form the primary basis to support Regulatory Approval
                                                                         for the Product.

 

		1.72	         “Pivotal
                                                                         Trial” shall mean any Phase II Clinical Trial
                                                                         or Phase III Clinical Trial designed to yield Pivotal
                                                                         Data.

 

		1.73	         “P/L
                                                                         Share Percentage” shall be the percentage that
                                                                         each Party contributes to Development Expenses
                                                                         and Commercial Expenses and shares in Product
                                                                         Profit/Loss, pursuant to Section 3.4(a) and Section 8.2.

 

		1.74	         “Pricing
                                                                         Approval” means such approval, agreement, determination
                                                                         or governmental decision establishing prices for the
                                                                         Product that can be charged to consumers and shall be
                                                                         reimbursed by Governmental Authorities in regulatory
                                                                         jurisdictions where the Governmental Authorities or Regulatory
                                                                         Authorities approve or determine pricing of pharmaceutical
                                                                         products for reimbursement or otherwise.

 

    	 

    	 

    

 

		1.75	         “Product”
                                                                         means
                                                                         a pharmaceutical preparation in any formulation that
                                                                         contains the PI3Kδ Product(s) as an active ingredient.

 

		1.76	         “Product
                                                                         Assets” has the meaning set forth in Section
                                                                         6.5.

 

		1.77	         “Product
                                                                         Infringement” has the meaning set forth in
                                                                         Section 9.5(b).

 

1.78         “Product
Labeling” means (a) the full prescribing information for the Product approved by the applicable Regulatory Authority,
and (b) all labels and other written, printed or graphic information included in or placed upon any container, wrapper or package
insert used with or for the Product.

 

		1.79	         “Product
                                                                         Profit/Loss” means the profits or losses resulting
                                                                         from the Commercialization of the Product in the Territory
                                                                         and shall be equal to Net Sales of the Product in the
                                                                         Territory less Commercial Expenses. For avoidance of
                                                                         doubt, any cost deducted in the calculation of Net Sales
                                                                         shall not be included in the calculation of the Commercial
                                                                         Expenses. 

 

		1.80	         “Regulatory
                                                                         Approvals” means all approvals (including without
                                                                         limitation supplements, amendments, and Pricing Approvals),
                                                                         licenses, registrations or authorizations of any national,
                                                                         supra-national, regional, state or local regulatory agency,
                                                                         department, bureau, commission, council or other governmental
                                                                         entity, necessary for the manufacture, storage, import
                                                                         , transport, distribution, marketing, use or sale of
                                                                         a pharmaceutical product in a given regulatory jurisdiction.

 

		1.81	         “Regulatory
                                                                         Authority” means, in a particular country or
                                                                         jurisdiction, any applicable Governmental Authority involved
                                                                         in granting Regulatory Approval in such country or jurisdiction,
                                                                         including without limitation, in the U.S., the FDA and
                                                                         any other applicable Governmental Authority in the U.S.
                                                                         having jurisdiction over the Product, and, in the European
                                                                         Union, the EMA and any other applicable Governmental
                                                                         Authority having jurisdiction over the Product.

 

		1.82	         “Regulatory
                                                                         Materials” means regulatory applications, submissions,
                                                                         notifications, registrations, Regulatory Approvals or
                                                                         other submissions made to or with a Regulatory Authority
                                                                         that are necessary or reasonably desirable in order to
                                                                         develop, manufacture, market, sell or otherwise commercialize
                                                                         the Product in a particular country, territory or possession.
                                                                         Regulatory Materials include, without limitation, INDs,
                                                                         CTAs and MAAs, NDAs, and amendments and supplements for
                                                                         any of the foregoing, and applications for Pricing Approvals.

 

		1.83	         “Response
                                                                         Period” has the meaning set forth in Section
                                                                         6.5.

 

		1.84	         “Rhizen
                                                                         Know-How”: shall mean (i) all Know-How that
                                                                         is Controlled by Rhizen or its Affiliates on the Effective
                                                                         Date and during the Term, and (ii) Rhizen’s interest
                                                                         in any Joint Know-How, in each case that is necessary
                                                                         or useful for the Development, manufacture or Commercialization
                                                                         of the Product. For clarity, Rhizen Know-How excludes
                                                                         the Rhizen Patents.

 

		1.85	         “Rhizen
                                                                         License Option” means the one time option that
                                                                         Rhizen has to convert this Agreement into a Licensing
                                                                         Agreement pursuant to the terms contained on Exhibit
                                                                         F (as defined below). 

 

    	 

    	 

    

 

		1.86	         “Rhizen
                                                                         Patent” means any Patent, including Rhizen’s
                                                                         interest in any Joint Patent, that (a) is Controlled
                                                                         by Rhizen or its Affiliates at any time during the Term,
                                                                         and (b) claims the Product or its manufacture or use,
                                                                         or any other invention that is otherwise necessary or
                                                                         useful for the Development, Finished Manufacture or Commercialization
                                                                         of the Product. The list of Rhizen Patents as of the
                                                                         Effective Date is attached hereto as Exhibit B, and shall
                                                                         be from time to time amended and updated during the Term
                                                                         to incorporate the then-current Rhizen Patents.

 

		1.87	         “Rhizen
                                                                         Technology” means the Rhizen Patents and Rhizen
                                                                         Know-How. 

 

		1.88	         “Right
                                                                         of First Refusal” has the meaning set forth
                                                                         in Section 6.5. 

 

		1.89	         “Sales
                                                                         Representative” means a pharmaceutical sales
                                                                         representative conducting Detailing and other promotional
                                                                         efforts with respect to the Product, including through
                                                                         a contract sales organizations.

 

		1.90	         “Serious
                                                                         Adverse Event” means any untoward medical occurrence
                                                                         that, at any dose, results in death, is life-threatening,
                                                                         requires inpatient hospitalization or prolongation of
                                                                         existing hospitalization, results in persistent or significant
                                                                         disability/incapacity, or is a congenital anomaly/birth
                                                                         defect, as more full defined in 21 CFR § 312.32.

 

		1.91	         “Subcontractor”:
                                                                         means a Third Party service provider engaged by TGTX
                                                                         to perform contract services on behalf of TGTX or its
                                                                         Affiliates, where TGTX retains a meaningful participatory
                                                                         role in the overall development and commercialization
                                                                         of the Product (e.g., contract research or development
                                                                         organizations, clinical sites performing clinical trials,
                                                                         universities and scientific institutes, distributors
                                                                         in certain countries in the Territory, or contract manufacturing
                                                                         organizations).

 

		1.92	         “Sole
                                                                         Inventions” has the meaning set forth in Section
                                                                         9.1.

 

		1.93	         “Territory”
                                                                         means worldwide except India, its territories and
                                                                         possessions, as adjusted from time to time pursuant to
                                                                         Section 3.5.

 

		1.94	         “TGTX
                                                                         Know-How”: shall mean (i) all Know-How that
                                                                         is Controlled by TGTX or its Affiliates on the Effective
                                                                         Date and during the Term, and (ii) TGTX’s interest
                                                                         in the Joint Know-How, in each case that is necessary
                                                                         or useful for the Development, manufacture or Commercialization
                                                                         of the Product. For clarity, TGTX Know-How excludes TGTX
                                                                         Patents.

 

		1.95	         “TGTX
                                                                                                           Patent”
                                                                                                           means any Patent, including
                                                                                                           TGTX’s interest
                                                                                                           in any Joint Patent,
                                                                                                           that (a) is Controlled
                                                                                                           by TGTX or its Affiliates
                                                                                                           at any time during
                                                                                                           the Term, and (b) claims
                                                                                                           the Product or 
                                                                                                           its manufacture
                                                                                                           or use ,
                                                                                                           or any invention that
                                                                                                           is otherwise necessary
                                                                                                           or useful for the Development,
                                                                                                           Finished Manufacture
                                                                                                           or Commercialization
                                                                                                           of the Product. The
                                                                                                           list of TGTX Patents
                                                                                                           as of the Effective
                                                                                                           Date is attached hereto
                                                                                                           as Exhibit B, and shall
                                                                                                           be from time to time
                                                                                                           amended and updated
                                                                                                           during the Term to
                                                                                                           incorporate the then-current
                                                                                                           TGTX Patents.

 

		1.96	         “TGTX
                                                                         Technology” means the TGTX Patents and TGTX
                                                                         Know-How.

 

		1.97	         “Term”
                                                                         means the term of this Agreement, as determined in
                                                                         accordance with Article 13.

 

		1.98	         “Third
                                                                         Party” means any entity other than Rhizen or
                                                                         TGTX or an Affiliate of either of them.

 

    	 

    	 

    

 

		1.99	         “TGTX
                                                                         License Option” means the one time option that
                                                                         TGTX has to convert this Agreement into a Licensing Agreement
                                                                         pursuant to the terms contained on Exhibit F (as defined
                                                                         below). 

 

		1.100	         “U.S.”
                                                                          means the United States of America and its possessions
                                                                          and territories.

 

		1.101	         “Valid
                                                                          Claim” means (a) any claim of an issued unexpired
                                                                          patent that (i) has not been permanently revoked, held
                                                                          invalid, or declared unpatentable or unenforceable in
                                                                          a decision of a court or other body of competent jurisdiction
                                                                          that is unappealable or unappealed within the time allowed
                                                                          for appeal, and (ii) is not lost through an interference
                                                                          proceeding that is unappealable or unappealed within
                                                                          the time allowed for appeal; or (b) provided there is
                                                                          no Generic Product available in the market, a claim
                                                                          of a pending Patent application, which claim has not
                                                                          been abandoned or finally disallowed without the possibility
                                                                          of appeal.

 

    	 

    	 

    

  

ARTICLE
2

 

 

MANAGEMENT

 

  

Collaboration
Overview. The Parties desire and intend to form a contractual JV to collaborate with respect to the Development and Commercialization
of the Product as a single agent or Combination in the Territory, as and to the extent set forth in this Agreement. There shall
be two periods to the JV; the first shall be the Early Development Period and the second being Continuation of JV with an option
to license (“Post Early Development Period”). During the Early Development Period each party shall carry-out the activities
set forth on Exhibit D at their own cost and expense under the supervision and guidance of the JSC. Following the completion of
the Early Development Period (i.e. beginning of Post Early Development Period), the Parties shall continue to participate in the
joint development of the Product with respect to specific functions, as set forth in this Agreement including sharing of Development
and Commercial Expenses incurred in connection with the performance of the Development Plan,
as set forth in, and in accordance with, Article 3 unless either party exercises its License Options (as set forth in, and in
accordance with Article 6) .

 

As
an alternative to the continuation of JV post TGTX option both parties agree to consider
a 50:50 split in territories for continued development of PI3K δ products. If an agreement cannot be reached on a territorial
split, then the 50:50 cost/profit split will be maintained on a global basis as otherwise contemplated herein including
the development expenses referred to in Section 3.4.

 

TGTX
shall be responsible for obtaining and maintaining Regulatory Approval of the Product in the Territory. TGTX also shall be responsible
for Commercializing the Product in the Territory and share Product Profits/Losses based on each Party’s P/L Share Percentage..

 

Each
Party agrees and acknowledges that, as a JV they would be conducting joint research efforts post Effective Date as
assigned by the JSC, for example, but not limited to, external studies such as efficacy on primary patient cells etc. and
studies such as improvement of API and formulation post IND submission etc; both the parties shall share such expenses under development
cost. 

 

		2.1	Commitment
                                                                   to Development and Commercialization. Each Party agrees
                                                                   and acknowledges that, by entering into this Agreement, it
                                                                   shall fund, as and to the extent set forth in this Agreement,
                                                                   the Development Expenses and Commercial Expenses, and shall
                                                                   use Diligent Efforts to conduct the activities assigned to
                                                                   such Party in this Agreement and in the Development Plan, with
                                                                   the JSC overseeing the implementation of such plan.

 

		2.2	Joint
                                                                   Steering Committee.

 

		(a)	Formation
                                                                       and Role. The Parties hereby establish a Joint Steering
                                                                       Committee (sometimes referred to hereinafter as “JSC”)
                                                                       that shall monitor and coordinate communication regarding
                                                                       the Parties’ performance under this Agreement to
                                                                       Develop, obtain Regulatory Approval for and Commercialize
                                                                       the Product. The role of the JSC shall be:

 

		(i)	to
discuss and agree upon the Development Plan and Commercialization Plan, and any proposed changes or amendments thereto
that are not inconsistent with this Agreement;

 

    	 

    	 

    

 

		(ii)	to review the overall strategy
for Developing and seeking Regulatory Approval for, manufacturing of, and Commercializing the Product in the Territory;

 

		(iii)	to facilitate the exchange
of information between the Parties with respect to the activities hereunder for the Territory and to establish procedures for
the efficient sharing of information and materials necessary for each Party’s Development, Product Development and Commercialization
of the Product hereunder, consistent with this Agreement;

 

		(iv)	to review the plan and
the summary budget for the Development with respect to the applicable countries in the Territory and provide comments regarding
the content and implementation of such plans;

 

		(v)	to monitor the Parties’
performance against the then-current Development Plan and Commercialization Plans;

 

		(vi)	to inform the other party
of up-coming material internal events and decisions related to each such party’s obligations hereunder and communicate to
the other party on the results of such events and decisions taken;

 

		(vii)	to discuss material submissions
to FDA and other Regulatory Authorities;

 

		(viii)	to create subcommittees
as the JSC may find necessary or desirable from time to time for implementation of the Development and Commercialization hereunder;

 

		(ix)	to oversee the activities
of subcommittees created under this Agreement, and to seek to resolve any issues that such subcommittees cannot resolve;

 

		(x)	to provide a forum to evaluate
strategies for obtaining, maintaining and enforcing patent and trademark protection for the Product in the Territory; and

 

		(xi)	to perform such other functions
as appropriate to further the purposes of this Agreement, as determined by the Parties.

 

		(b)	Powers.
                                                                       The JSC shall have only the powers assigned expressly
                                                                       to it in this Article 2 and elsewhere in this Agreement.
                                                                       The JSC shall not have any power to amend, modify or waive
                                                                       compliance with this Agreement.

 

		(c)	JSC
                                                                       Membership. Each Party shall have an equal number of
                                                                       representatives on the JSC, who initially shall be the
                                                                       eight (8) individuals as set forth in Exhibit E. The JSC
                                                                       may change its size from time to time by mutual consent
                                                                       of the Parties, provided that the JSC shall at all
                                                                       times consist of an equal number of representatives of
                                                                       each of Party. Either Party may designate substitutes for
                                                                       its representatives if one (1) or more of such Party’s
                                                                       designated representatives are unable to be present
                                                                       at a meeting. From time to time each Party may replace
                                                                       its representatives by written notice to the other Party
                                                                       specifying the prior representative(s) and their replacement(s).
                                                                       TGTX shall select one (1) of its representatives
                                                                       as the initial chairperson of the JSC. The chairperson
                                                                       shall be responsible for (i) calling meetings, and (ii)
                                                                       preparing and circulating an agenda for the upcoming meeting,
                                                                       but shall have no special authority over the other members
                                                                       of the JSC, and shall have no additional voting rights.
                                                                       

 

    	 

    	 

    

 

		2.3	JSC
                                                                        Meetings, Decisions and Actions.

 

		(a)	Meetings.
                                                                       The JSC shall hold at least four (4) meetings
                                                                       per year (at least one (1) of which shall be held in person)
                                                                       on such dates at such times each year as it elects. Meetings
                                                                       of the JSC shall be effective only if at least two (2)
                                                                       representatives of each Party are present or participating.
                                                                       Each Party shall bear the expense of its respective members’
                                                                       participation in JSC meetings. The Chairperson of the JSC
                                                                       shall be responsible for preparing and issuing minutes
                                                                       of each such meeting within fifteen (15) days thereafter.
                                                                       Such minutes shall not be finalized until each Party reviews
                                                                       and confirms the accuracy of such minutes in writing; provided
                                                                       that any minutes shall be deemed approved unless a member
                                                                       of the JSC objects to the accuracy of such minutes within
                                                                       thirty (30) days after the circulation of the minutes by
                                                                       the Chairperson. With the prior consent of both Parties’
                                                                       representatives (such consent not to be unreasonably withheld
                                                                       or delayed), other representatives of each Party or Third
                                                                       Parties involved with the Products may attend meetings
                                                                       as nonvoting participants, subject to appropriate agreements
                                                                       of confidentiality. All final JSC minutes must be signed
                                                                       by both Parties.

 

		(b)	Decision
                                                                       Making. Except as expressly provided in this Section
                                                                       2.3, actions to be taken by the JSC shall be taken only
                                                                       following unanimous vote, with each Party having one (1)
                                                                       vote.

 

		(c)	Disputes.
                                                                       If the members of the JSC cannot reach a unanimous
                                                                       decision with respect to matters delegated to it under
                                                                       this Article 2 for a period in excess of Fifteen
                                                                       (15) Business Days from the discussion at the JSC, unless
                                                                       the Parties agree to prolong such time period, the matter
                                                                       shall be referred to two appropriately qualified senior
                                                                       executive officers of the Parties, who shall attempt resolution
                                                                       by good faith negotiations for at least thirty (30) days
                                                                       after such referral. If the senior executive officers designated
                                                                       by the Parties are not able to resolve such dispute within
                                                                       such thirty (30) day period, then such dispute shall be
                                                                       finally decided by
                                                                       an independent advisory board to the JSC, the members of
                                                                       which shall be agreed upon by both Parties at the time
                                                                       of the dispute. Notwithstanding anything else to
                                                                       the contrary herein, any decision with respect to the Development
                                                                       Plan or the Commercialization Plan that disproportionately
                                                                       allocates a burden to or disproportionately limits
                                                                       the profits of one Party relative to the other Party
                                                                       (e.g., one Party is required to bear more than 50% of the
                                                                       cost) shall not be made without the consent of the disproportionately
                                                                       burdened Party.

 

		(d)	Location
                                                                       of in-person meetings. Meetings to be held in person
                                                                       shall be held either (i) in a US city which is hosting
                                                                       a medical conference that the Parties are otherwise attending
                                                                       or (ii) at a mutually agreeable city that is located approximately
                                                                       equidistant from each Parties principal place of business.
                                                                       The Parties hereby designate Zurich, Switzerland as a mutually
                                                                       acceptable city, if another more convenient location cannot
                                                                       be agreed upon for an in person meeting.

 

		2.4	Alliance
                                                                   Representative. Each Party has designated on Exhibit E
                                                                   an appropriate employee to facilitate communication and coordination
                                                                   of the Parties’ activities under this Agreement relating
                                                                   to the Product and to provide support and guidance to the JSC
                                                                   (each, an “Alliance Representative”). From
                                                                   time to time each Party may replace its Alliance Representative
                                                                   by prior written notice to the other Party specifying the replacement.

 

    	 

    	 

    

  

ARTICLE
3

 

  

CLINICAL
AND NON-CLINICAL PRODUCT DEVELOPMENT

 

  

		3.1	Overview.
                                                                   The Parties shall Develop the Product in the Territory as provided
                                                                   in this Article 3 and in accordance with the then-current Development
                                                                   Plan. The initial Development Plan sets forth the Development
                                                                   activities to be performed by each Party under this Agreement
                                                                   during the Early Development Period and is attached hereto
                                                                   as Exhibit D. Within 90 days following the completion of the
                                                                   Early Development Period, either party shall provide the JSC
                                                                   with an updated Development Plan and any future updates thereof
                                                                   shall be submitted to the JSC for review
                                                                   and approval in accordance with Article 2. Without limiting
                                                                   the generality of the foregoing, the Parties shall have the
                                                                   following Development obligations for the Product:

 

		(a)	Rhizen
                                                                       shall be responsible for all ongoing non-clinical,
                                                                       Manufacturing Development, preclinical and other activities
                                                                       regarding the Product that are listed on Exhibit D and
                                                                       shall provide TGTX the data obtained therein as provided
                                                                       in Section 4.1; and

 

		(b)	TGTX
                                                                       shall be responsible for implementing the clinical
                                                                       trials of the Product for Regulatory Approval listed in
                                                                       Exhibit D and pursuant to the Development Plan.

 

		3.2	Development
                                                                   Plan. The initial Development Plan through the Early Development
                                                                   Period has been agreed upon by the Parties and is attached
                                                                   hereto as Exhibit D and incorporated herein by reference. Each
                                                                   party will be responsible for conducting those activities in
                                                                   the development plan that are assigned to such party under
                                                                   the development plan. Upon the completion of the Early Development
                                                                   Period, the Development Plan will be updated by the JSC and
                                                                   shall contain the following information for the Product, to
                                                                   the extent such information is available:

 

		(a)	the
                                                                       proposed overall plan for Development for the Product to
                                                                       support Regulatory Approval in the U.S. ;

 

		(b)	the
                                                                       Development Budget, which shall include a two (2)-year
                                                                       rolling budget of Development Expenses (including a detailed
                                                                       budget for the first year thereof and an estimated budget
                                                                       for the subsequent year based on the then-current Development
                                                                       Plan);

 

		(c)	scope
                                                                       and target timelines for the Parties’ performance
                                                                       of all studies and activities within the Development, including
                                                                       without limitation, clinical trial protocols, additional
                                                                       preclinical tests (including any and all carcinogenicity
                                                                       and toxicology studies), Finished Product stability studies,
                                                                       enrollment numbers and submission dates; and

 

		(d)	the
                                                                       Parties’ forecasts of their respective needs for
                                                                       preclinical or clinical supply of such Finished Product
                                                                       and/or Bulk API.

 

		3.3	Updates
                                                                   to Development Plan and Development Budget. The JSC shall
                                                                   review the development plan on an ongoing basis and may update
                                                                   the development plan as the JSC determines consistent with
                                                                   article 2 hereof. As early as necessary in each year beginning
                                                                   with the first full Fiscal Year after the completion of the
                                                                   Early Development Period, the JSC shall update and prepare
                                                                   the Development Plan and Development Budget for the Product
                                                                   for the following Fiscal Year to take into account completion,
                                                                   commencement or cessation of Development activities not contemplated
                                                                   by the then-current Development Plan, and submit such proposed
                                                                   Development Plan to the JSC no later than November 1 of such
                                                                   year. The JSC shall endeavor to finalize the updated U.S. Development
                                                                   Plan by December 15 of each year. As necessary throughout the
                                                                   Fiscal Year, the JSC shall review the Development Plan and
                                                                   any changes thereto proposed by either Party through the JSC,
                                                                   and the JSC shall be decide on such changes as set forth in
                                                                   Article 2 hereof.

 

    	 

    	 

    

 

		3.4	Development
                                                                   Expenses.

 

		(a)	The
                                                                       Parties shall share any and all Development Expenses as
                                                                       follows:

 

		(i)	During the Early Development
Period, each party shall bear the expenses of the Development activities delegated to them on Exhibit D;

 

		(ii)	Following the Early Development
Period, total Development Expenses shall be borne based on each Parties P/L Share Percentage;

 

The
initial P/L Share Percentages of the Parties are as follows:

 

TGTX:
*%

 

Rhizen:
*%

 

If
either party fails to pay their proportionate share of Development Expenses and Commercial Expenses prior to First Commercial
Sale, then the P/L Share Percentages shall be adjusted as set forth herein in Sections 3.4(a)(vi).
The adjustment of such Party’s P/L Share Percentages shall be the sole remedy for such failure.

 

		(iii)	Each Party shall calculate
and maintain records of all relevant Development Expenses incurred by it for the Development of the Product, in accordance with
procedures to be agreed upon between the Parties. The Parties understand and agree that Internal Expenses shall not be shared,
subject to Section 3.4(a)(iv).

 

		(iv)	Within ten (10) Business
Days following the end of each calendar quarter, TGTX shall submit to Rhizen a written report setting forth in reasonable detail
the Development Expenses it has incurred in such calendar quarter. Within ten (10) Business Days following the end of each calendar
quarter, Rhizen shall submit to TGTX a written report setting forth in reasonable detail the Development Expenses it has incurred
in such calendar quarter.

 

		(v)	Within twenty (20) Business
Days following the end of each calendar quarter, TGTX shall submit to Rhizen a written report setting forth in reasonable detail
the calculation of all Development Expenses for the Product, and the calculation of any net amount owed by Rhizen to TGTX or by
TGTX to Rhizen, as the case may be, in order to ensure the appropriate sharing of Development Expenses in accordance with the
provisions of Section 3.4(a). The net amount payable shall be paid to the other Party, as the case may be, within thirty (30)
days following the receipt of the written report; provided, that, in the event of a dispute, any amounts not in dispute shall
be paid and the disputing Party shall provide written notice without undue delay after receipt of the written report in question
to the other, specifying such dispute and explaining the basis of the dispute. The Parties shall promptly thereafter meet and
negotiate in good faith a resolution to such dispute and, promptly upon resolution of such dispute, the applicable Party shall
make the agreed-upon payment. If such dispute is not resolved within forty-five (45) days after delivery of a notice of dispute
with respect thereto to the other Party, the disputing Party may audit the other Party in accordance with the provisions of Section
8.9. For clarity, nothing in this Section 3.4(a) (v) shall serve to limit a Party’s ability to seek recourse for billing
errors discovered after payment is made.

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

		(vi)	If hereunder, either Party
fails to contribute their portion of the Development Expenses or Commercial Expenses,
such Party’s P/L Share Percentage shall be reduced pro rata to the extent of the Development Expenses or
Commercial Expenses that they do not fund as a percentage of the cumulative Development Expenses and
Commercial Expenses to date, however, in no event shall Rhizen’s P/L Share Percentage be reduced below *%.
In the event of failure to pay allocated Development Expenses or Commercial Expenses
on time as set forth above, each party shall be afforded six (6) months to make a catch-up payment. However, upon receipt
of Pivotal Data for the Product and any time thereafter, no catch-up payments will be allowed by either Party.

 

		(vii)	The Parties acknowledge
and agree that Internal Expenses shall not be reimbursed or shared except as set forth in this Section 3.4(a)(vi). However, in
connection with the Development, either Party may refer to the JSC to provide certain specified Development activities using internal
resources as opposed to out-sourcing such activity to a Third Party and to include such Internal Expenses as the Development Expenses
to be shared hereunder. Any such referral shall include a sufficiently detailed description of the proposed Development activities,
the associated Internal Expenses, and, where possible, the costs and expenses to be paid to Third Party contractors if the same
Development activities were contracted out to them. If the JSC approves (which approval shall not be unreasonably withheld) such
Internal Expenses as the Development Expenses, then the proposing Party shall obtain reimbursement as the Development Expenses
for the Internal Expenses actually incurred (in an amount not to exceed any approved amount) in performing such Development activities
for the Product.

 

		(b)	Any
                                                                       reimbursement payments made pursuant to this Section 3.4
                                                                       shall be subject to the general payment procedures set
                                                                       forth in Sections 8.5 through 8.8, inclusive.

 

		3.5	Performance;
                                                                   Diligence.

 

		(a)	Each
                                                                       Party shall devote Diligent Efforts to the Development
                                                                       of the Product consistent with the then-current Development
                                                                       Plan and in accordance with this Agreement.

 

		(b)	Without
                                                                       limiting the generality of Section 3.5(a), TGTX shall devote
                                                                       Diligent Efforts to obtaining Regulatory Approval of the
                                                                       Product in the Territory.

 

 

*
Confidential material redacted and filed separately with the Commission.

  

    	 

    	 

    

 

		(c)	Rhizen
                                                                       shall use Diligent Efforts to ensure their Development
                                                                       and Commercialization activities in India are not detrimental
                                                                       in any way, or negatively impact Development and Commercialization
                                                                       of the Product outside India. Each Party shall conduct
                                                                       its Development activities under this Agreement in good
                                                                       scientific manner and in compliance with all applicable
                                                                       Laws, including without limitation applicable GCP, GLP,
                                                                       and GMP.

 

		3.6	Records,
                                                                   Reports and Information. Each Party shall maintain
                                                                   complete, current and accurate records of all work conducted
                                                                   by it under the Development Plan and all data and other Information
                                                                   resulting from such work. Such records shall fully and properly
                                                                   reflect all work done and results achieved in the performance
                                                                   of the Development Plan in sufficient detail and in good scientific
                                                                   manner appropriate for patent and regulatory purposes. Each
                                                                   Party shall have the right to review such records maintained
                                                                   by the other Party at reasonable times, upon written request.
                                                                   Each Party shall provide written reports in English to the
                                                                   JSC on its Development and regulatory activities with the Product
                                                                   pursuant to the Development Plan on a quarterly basis at the
                                                                   end of each calendar quarter, at a level of detail reasonably
                                                                   sufficient to enable the other Party to determine the reporting
                                                                   Party’s compliance with its Diligent Efforts obligation
                                                                   pursuant to Section 3.5.

 

		3.7	Inclusion
                                                                   of Backup Compounds. If, during the Term, Rhizen develops
                                                                   potential Backup Compounds (as defined herein above), then
                                                                   the JSC shall have the right to include such Backup Compounds
                                                                   in the definition of Product for the purposes of this Agreement.
                                                                   During the Term, Rhizen shall provide the JSC on an annual
                                                                   basis a report stating the results of any pre-clinical studies
                                                                   conducted for such a Backup Compound, if any, as well as all
                                                                   other material results and data with respect to such potential
                                                                   Backup Compound(s), if any, for JSC’s evaluation. This
                                                                   Section 3.7 shall apply on a Backup Compound-by-Backup Compound
                                                                   basis.

 

		3.8	Manufacturing
                                                                   Development.

 

		(a)	Duties.
                                                                       Rhizen shall be responsible for the Manufacturing Development
                                                                       for the Bulk API and Finished Product, itself or through
                                                                       a Third Party contract manufacturer. Notwithstanding the
                                                                       foregoing, TGTX shall have the right to conduct any aspect
                                                                       of the Manufacturing Development, including obtaining pre-clinical,
                                                                       clinical or commercial supply from a Third-party, if it
                                                                       can do so at a price that is less than that obtained by
                                                                       Rhizen or if an alternate manufacturing source is required
                                                                       due to regulatory or technical reasons. Rhizen shall reasonably
                                                                       cooperate with TGTX for such purposes, which cooperation
                                                                       shall include the transfer to TGTX of technology Controlled
                                                                       by Rhizen relating to activities that were conducted by
                                                                       Rhizen as of the Effective Date and thereafter, if any,
                                                                       with respect to any such Finished Manufacture.

 

		(b)	Costs.
                                                                       Manufacturing Development Expenses are included in
                                                                       Development Expenses and, as a result, following the Early
                                                                       Development Period, shall be shared pursuant to Section
                                                                       3.4. Additionally, despite the fact that Manufacturing
                                                                       Development Expenses are to be borne by Rhizen during the
                                                                       Early Development Period, if drug supply is required to
                                                                       be supplied to
                                                                       a clinical trial participant(s) after the completion
                                                                       of the
                                                                       Clinical Trial conducted during the Early Development Period,
                                                                       then the parties shall share those expenses pursuant to
                                                                       3.4.

 

		(c)	Comparator
                                                                       Drugs. Each Party conducting pre-clinical and clinical
                                                                       trials for the Product shall be responsible for procuring
                                                                       all of its requirements of all comparator drugs or placebos
                                                                       necessary for conducting such trials. The costs and expenses
                                                                       incurred by either Party for procuring the comparator drugs
                                                                       or placebos for the Development shall be included in the
                                                                       Development Expenses.

 

 

    	 

    	 

    

   

ARTICLE
4

 

  

REGULATORY
MATTERS

 

  

		4.1	Transfer
                                                                   of Data and Regulatory Materials.

 

		(a)	Existing
                                                                       Data. To the extent not already provided, within reasonable
                                                                       time frame and as decided by JSC, either party shall provide
                                                                       copies of all preclinical and non-clinical data, for Product
                                                                       either as single agent or in combination, relevant to an
                                                                       IND or CTA submission. TGTX shall have the full right on
                                                                       behalf of JV, without any additional consideration, to
                                                                       use any and all such data and reports supplied by Rhizen
                                                                       under this Section 4.1(a) in connection with the Development
                                                                       and/or Commercialization of the Product in the Territory,
                                                                       including the incorporation of such data or reports in
                                                                       any regulatory submissions, including MAA and NDA submissions.

 

		(b)	Future
                                                                       Data. Either Party shall, in a timely manner and compliant
                                                                       with requirements of the FDA, the EMEA, and any other applicable
                                                                       Regulatory Authority, provide copies of all preclinical,
                                                                       non-clinical, analytical, manufacturing, and clinical data
                                                                       relating to the Product either as single agent or in combination,
                                                                       generated by or on behalf of the JV in connection with
                                                                       the performance of the Development Plan and relevant to
                                                                       any regulatory submission; provided, that information regarding
                                                                       adverse events and serious adverse events shall be provided
                                                                       as set forth in Section 4.5. If the receiving Party requests
                                                                       that copies of such data be provided in compliance with
                                                                       requirements of other Regulatory Authorities, the disclosing
                                                                       Party shall reasonably consider such request. Rhizen shall
                                                                       have the full right, without any additional consideration,
                                                                       to use any and all such data and reports in connection
                                                                       with the Development of the Product in India and, TGTX
                                                                       on behalf of the JV shall have the full right, without
                                                                       any additional consideration, to use any and all such data
                                                                       and reports in connection with the Development and/or the
                                                                       Commercialization of the Product in the Territory, including
                                                                       the incorporation of such data or reports in any regulatory
                                                                       submissions including MAA and/or NDA submissions.

 

		(c)	Clarification.
                                                                       All preclinical, non-clinical, analytical, manufacturing,
                                                                       and clinical data and associated reports disclosed by one
                                                                       Party to the other under this Agreement shall be deemed
                                                                       Confidential Information of the disclosing Party. 
                                                                       Except as otherwise provided in this Section 4.1, the receiving
                                                                       Party may use such data solely for the purpose of developing
                                                                       the Product, seeking and obtaining Regulatory Approval
                                                                       and Commercializing the Product as permitted in this Agreement,
                                                                       subject to Article 12.

 

		4.2	Regulatory
                                                                   Submissions and Approvals.

 

		(a)	In
                                                                       General. The Parties intend to seek Regulatory Approval
                                                                       in the first instance in the U.S. and EU and thereafter
                                                                       the remainder of the Territory wherein the JSC determines
                                                                       it is worthwhile to Develop and Commercialize the Product.
                                                                       The Parties also intend that each Party with responsibility
                                                                       for generating data will cooperate fully with the other
                                                                       Party to make that data available for preparation and submission
                                                                       of Regulatory Materials. Subject to the terms of this Article
                                                                       4:

 

		(i)	TGTX, in consultation with
JSC, shall be responsible for assembling, submitting and maintaining any source regulatory submission components and compiled
submissions of the Regulatory Materials to be used in support of Regulatory Approval for the Product in the Territory in accordance
with such regulatory strategy, including without limitation NDAs, MAAs and associated documents;

 

    	 

    	 

    

 

		(1)	Rhizen
                                                                       shall have primary responsibility for providing components
                                                                       of Regulatory Materials relating to Bulk API and Finished
                                                                       Product in support of Regulatory Approval;

 

		(2)	TGTX
                                                                       shall have primary responsibility for providing the
                                                                       content of Regulatory Materials relating to clinical data
                                                                       supporting Regulatory Approval;

 

		(ii)	TGTX, in consultation
with JSC, shall be primarily responsible for preparing and submitting to Regulatory Authorities INDs, CTAs and all associated
submissions (e.g., IMPDs, safety alerts, protocol submissions, etc.) for the Product and for carrying out clinical protocols
in support of Regulatory Approval in the Territory under said INDs and CTAs in both the U.S. and EU in accordance with such regulatory
strategy.

 

		(b)	Costs
                                                                       and Expenses. Until completion of Early Development
                                                                       Period, all

                                                                       expenses associated with preparation, submission and maintenance
                                                                       of regulatory materials for the Territory will be borne
                                                                       by TGTX. Following the Early Development Period, any Development
                                                                       Expenses to the extent required for the Parties to prepare,
                                                                       submit and maintain all Regulatory Materials in the Territory
                                                                       shall be treated as Development Expenses and shared by
                                                                       the Parties in accordance with Section 3.4.

 

		(c)	Rights
                                                                       of Reference to Regulatory Materials. Each Party hereby
                                                                       grants to the other Party a right of reference to all Regulatory
                                                                       Materials filed by such Party for Product as follows: The
                                                                       right of reference granted to TGTX herein shall be solely
                                                                       for the purpose of TGTX obtaining Regulatory Approval for
                                                                       the Product in the Territory. The right of reference granted
                                                                       to Rhizen herein shall be solely for the purpose of obtaining
                                                                       Regulatory Approval for the Product in India. Each Party
                                                                       shall refer the Regulatory Materials filed by the other
                                                                       Party for Product as feasible (e.g., for avoiding
                                                                       redundancy of work as far as possible).

 

		4.3	Reporting
                                                                   and Review.

 

		(a)	Each
                                                                       Party shall provide the other Party, in a timely manner,
                                                                       with copies of all Regulatory Approvals it receives for
                                                                       the Product.

 

		(b)	Each
                                                                       Party shall provide the other Party, in a timely manner,
                                                                       with copies of any notices of non-compliance with Laws
                                                                       in connection with the Product or its activities related
                                                                       to the Product (e.g., warning letters or other notices
                                                                       of alleged non-compliance), audit notices, notices of initiation
                                                                       by Regulatory Authorities of investigations, inspections,
                                                                       detentions, seizures or injunctions concerning the Product
                                                                       (or its manufacture, distribution, or facilities connected
                                                                       thereto), notice of violation letters (i.e., an
                                                                       untitled letter), warning letters, service of process or
                                                                       other inquiries and copies of any communication in response
                                                                       to the Regulatory Authority.

 

		4.4	Communications.
                                                                   Except as may be required by Laws, only the Party that holds
                                                                   the IND, CTA, NDA, MAA, etc. in a particular country or territory
                                                                   shall communicate regarding the Product with any Regulatory
                                                                   Authority having jurisdiction in such country or territory.
                                                                   If the Party not holding the IND, CTA, NDA, MAA, etc. is required
                                                                   to make such a communication by a Regulatory Authority in the
                                                                   Territory, then such Party shall provide immediately to the
                                                                   other Party notice of such order.

 

    	 

    	 

    

 

		4.5	Adverse
                                                                   Event Reporting and Safety Data Exchange. The Parties agree
                                                                   that TGTX shall be responsible for the establishment of the
                                                                   global safety database for the Product in the Territory and
                                                                   the monitoring of all clinical experiences and submission of
                                                                   all required reports throughout clinical Development and Commercialization
                                                                   of the Product in the Territory, and that Rhizen shall have
                                                                   primary responsibility for the monitoring of all clinical experiences
                                                                   and submission of all required reports concerning the Product
                                                                   in India. In each Party’s respective territory, such
                                                                   Party will be obligated, as part of their monitoring of all
                                                                   clinical experiences, to obtain follow-up information on any
                                                                   incomplete safety reports generated throughout the non-clinical
                                                                   and clinical Development and Commercialization of the Product.

 

The
Parties hereby agree to report to each other all Adverse Events and/or Serious Adverse Events with respect to the Product (whether
occurring in any Clinical Trial conducted with regard to the Product or in connection with the commercialization of the Product
in any country), within timeframes consistent with its reporting obligations under applicable Laws and in any event, if either
Party is actively conducting a Clinical Trial under its own IND or commercializing the Product under its own Marketing Authorization
Application, then the other Party shall report such events no later than three (3) business days for Serious Adverse Event, and
quarterly for Adverse Events, which report shall, in each case, include the circumstances and nature of such Serious Adverse Event
or Adverse Event as required for reporting under applicable Laws. In addition, to the extent requested by either Party, the other
Party shall promptly provide to the requesting Party any other information or materials that the requesting Party may require
to provide to any Regulatory Authority with respect to any such Adverse Event or Serious Adverse Event. All disclosures made under
this Section 4.5 shall be deemed Confidential Information of the disclosing Party; provided, that, the Party receiving such disclosures
may, upon written notice to the disclosing Party, report the occurrence, circumstances and nature of such Adverse Event and/or
Serious Adverse Event to any Regulatory Authority solely insofar as such reporting is required to comply with Applicable Laws.
Pursuant to Section 5.1, TGTX shall have sole responsibility for Commercialization of the Product in the Territory, and as such,
prior to Commercialization of the Product, TGTX shall be solely responsible for the review and approval of safety information
for inclusion in the Product Labeling in the Territory.

 

		4.6	Regulatory
                                                                   Inspection or Audit.

 

		(a)	Audit
                                                                       of TGTX.

 

		(i)	If a Regulatory Authority
desires to conduct an inspection or audit of TGTX’s facility, or a facility under contract with TGTX, with regard to Bulk
API or the Finished Product, TGTX shall promptly notify Rhizen and permit and cooperate with such inspection or audit, and shall
cause the contract facility to permit and cooperate with such Regulatory Authority during such inspection or audit. Rhizen shall
have the right to have a representative observe such inspection or audit and Rhizen shall, if requested by TGTX, assist TGTX in
preparing for, facilitating or enabling such inspection or audit. Following receipt of the inspection or audit observations of
such Regulatory Authority (a copy of which TGTX shall immediately provide to Rhizen), TGTX shall prepare a draft response to any
such observations in English, in consultation with Rhizen, and TGTX shall prepare and file the final response with such Regulatory
Authority, and shall provide a copy of such response to Rhizen.

 

    	 

    	 

    

 

		(b)	Audit
                                                                       of Rhizen.

 

		(ii)	If a Regulatory Authority
desires to conduct an inspection or audit of Rhizen’s facility, or a facility under contract with Rhizen, with regard to
the Bulk API or Finished Product, Rhizen shall promptly notify TGTX and permit and cooperate with such inspection or audit, and
shall cause the contract facility to permit and cooperate with such Regulatory Authority during such inspection or audit. TGTX
shall have the right to have a representative observe such inspection or audit and TGTX shall, if requested by Rhizen, assist
Rhizen in preparing for, facilitating or enabling such inspection or audit. Following receipt of the inspection or audit observations
of such Regulatory Authority (a copy of which Rhizen shall immediately provide to TGTX), Rhizen shall prepare a draft response
to any such observations in English, in consultation with TGTX, and Rhizen shall prepare and file the final response with such
Regulatory Authority, and shall provide a copy of such response to TGTX provided, however, if
it is a Regulatory Authority in the Territory and the audit is specific to the Product or the Bulk API, then TGTX shall
prepare, with the assistance of Rhizen, and file the final response and provide a copy to Rhizen.

 

		(c)	Audit
                                                                       Procedures. In any event, each Party shall notify the
                                                                       other Party within forty-eight (48) hours of receipt of
                                                                       notification from a Regulatory Authority of the intention
                                                                       of such Regulatory Authority to audit or inspect facilities
                                                                       being used to conduct manufacture of Bulk API or Finished
                                                                       Manufacture of the Finished Product. Each Party shall also
                                                                       provide the other Party with copies of any written communications
                                                                       received from Regulatory Authorities with respect to such
                                                                       facilities within seventy-two (72) hours of receipt.

 

		4.7	Recalls
                                                                        and Voluntary Withdrawals. JSC shall assign responsibility
                                                                        to TGTX for providing its internal standard operating
                                                                        procedures (“SOPs”) for conducting
                                                                        any recall, field alert, product withdrawal or other field
                                                                        action relating to the finished product reasonably in
                                                                        advance of the First Commercial Sale of any Product in
                                                                        the Territory to the other party. If either Party becomes
                                                                        aware of information relating to any Product that indicates
                                                                        that a unit or batch of Finished Product or Bulk API may
                                                                        not conform to the specifications therefor, or that potential
                                                                        adulteration, misbranding, or other issues have arisen
                                                                        that relate to the safety or efficacy of the Product,
                                                                        it shall promptly so notify the other Party. The JSC shall
                                                                        meet to discuss such circumstances and to consider and
                                                                        decide appropriate courses of action, which shall be consistent
                                                                        with the internal SOP of TGTX, TGTX shall have the right
                                                                        and responsibility to control any product recall, field
                                                                        correction, or withdrawal of any Product in the Territory
                                                                        that is required by Regulatory Authorities in the Territory,
                                                                        and the allocation of reasonable expenses incurred in
                                                                        connection with such recall between the Parties shall
                                                                        be made as follows: (i) if the recall is primarily due
                                                                        to failure by Rhizen or its contract manufacturer to manufacture
                                                                        the finished product in accordance with the agreed upon
                                                                        specification and applicable laws, then Rhizen shall bear
                                                                        all such expenses, (ii) if the recall is primarily due
                                                                        to a failure by TGTX to comply with its obligation under
                                                                        this agreement or the commercial supply agreement, including
                                                                        with respect to the labeling, possession, storage or distribution
                                                                        of the finished product, then TGTX shall bear all such
                                                                        expenses, and (iii) otherwise, such expenses shall be
                                                                        treated as Commercial Expenses. In addition, TGTX shall
                                                                        have the right, at its discretion, to conduct any product
                                                                        recall, field correction or withdrawal of any Product
                                                                        in the Territory that is not so required by such Regulatory
                                                                        Authorities but that TGTX deems to be appropriate, and
                                                                        the allocation of expenses incurred in connection with
                                                                        such recall between the Parties shall be as set forth
                                                                        in the immediately preceding sentence. TGTX shall maintain
                                                                        complete and accurate records of any recall in the Territory
                                                                        for such periods as may be required by applicable Laws,
                                                                        but in no event for less than three (3) years. If the
                                                                        parties are unable to agree on which party is responsible
                                                                        for the cost of the recall pursuant to this section 4.7,
                                                                        the parties agree to submit a sample of the finished product
                                                                        to an independent third party analyst to determine the
                                                                        cause of the defect. The cost of the report of the independent
                                                                        analyst will be paid by the party against which the report
                                                                        is unfavorable. 

 

    	 

    	 

    

  

ARTICLE
5

 

  

COMMERCIALIZATION

 

  

		5.1	Commercialization
                                                                   in the Territory. TGTX shall have the sole right and responsibility
                                                                   for Commercializing the Product in the Territory, as provided
                                                                   in this Article 5. TGTX shall book all sales of the Product
                                                                   in the Territory. The Parties shall share equally all Commercial
                                                                   Expenses incurred by the Parties in connection with such Commercialization
                                                                   in accordance with the procedures described in Section 8. TGTX
                                                                   shall use diligent efforts to minimize Commercial
                                                                   Expenses.

 

		5.2	Commercialization
                                                                   Plans. The strategy for the commercial launch of the Product
                                                                   in the Territory shall be described in a comprehensive plan
                                                                   that describes the pre-launch, launch and subsequent Commercialization
                                                                   activities and budget for the Product (including, if available,
                                                                   advertising, education, planning, marketing, sales force training
                                                                   and allocation, distribution, pricing, and reimbursement) (the
                                                                   “Commercialization Plan”). TGTX shall present
                                                                   an initial Commercialization Plan to the JSC at least twelve
                                                                   (12) months prior to the then current date of
                                                                   expected Regulatory Approval for such Product in the Territory
                                                                   (the “Approval Date”). The initial Commercialization
                                                                   Plan and subsequent revisions thereto, which revisions shall
                                                                   be reviewed and approved by the JSC from time to time, shall
                                                                   contain such information as the JSC believes necessary for
                                                                   the successful commercial launch of such Product and shall
                                                                   generally conform to the level of detail utilized by the Parties
                                                                   in preparation of their own product commercialization plans.
                                                                   The Commercialization Plan shall be deemed Confidential Information
                                                                   of both Parties, and each Party shall use such Commercialization
                                                                   Plan only to the extent necessary to carry out its Commercialization
                                                                   activities for the Product. From time to time as reasonably
                                                                   necessary during the term of Commercialization of a Product
                                                                   in the Territory, the JSC shall update the Commercialization
                                                                   Plan subject to the provisions of article 2 and 3 hereof .

 

		5.3	Pricing
                                                                   Approvals; Pricing. TGTX shall have the responsibility
                                                                   to determine all pricing of the Product in the Territory provided
                                                                   Rhizen has an opportunity to review and comment upon TGTX’s
                                                                   proposed price of the Product or any material modification
                                                                   thereof and shall consider Rhizen’s comments in good
                                                                   faith. TGTX shall use its Diligent Efforts to maximize Net Sales
                                                                   in the aggregate and with respect to each individual sale.
                                                                   Any discounts on sales where the Product is bundled with other
                                                                   products will be apportioned among all of the products in the
                                                                   bundle such that the discount on the Product is not more than
                                                                   the average discount provided to all the products. Both the
                                                                   parties shall keep reasonably informed on an ongoing basis
                                                                   of current Product pricing by regular reports to the JSC no
                                                                   less frequently than such committee is required to meet pursuant
                                                                   to Section 2.3.

 

		5.4	Sales
                                                                   and Distribution. TGTX shall be solely responsible for
                                                                   handling all returns, order processing, invoicing and collection,
                                                                   distribution, and inventory and receivables for the Product
                                                                   throughout the Territory. Rhizen may not accept orders for
                                                                   the Product or make sales for its own account or for TGTX’s
                                                                   account. If Rhizen receives any order for the Product, it shall
                                                                   refer such orders to TGTX for acceptance or rejection. TGTX
                                                                   shall have the right and responsibility for establishing and
                                                                   modifying the terms and conditions with respect to the sale
                                                                   of the Product throughout the Territory, including any terms
                                                                   and conditions relating to or affecting the price at which
                                                                   the Product shall be sold, discounts available to any third
                                                                   party payers (including, without limitation, managed care providers,
                                                                   indemnity plans, unions, self-insured entities, and government
                                                                   payer, insurance or contracting programs such as Medicare,
                                                                   Medicaid, or the U.S. Dept. of Veterans Affairs), any discount
                                                                   attributable to payments on receivables, distribution of the
                                                                   Product, and credits, price adjustments, or other discounts
                                                                   and allowances to be granted or refused provided that Rhizen
                                                                   had the opportunity to review and comment on such modifications
                                                                   thereof and TGTX shall consider Rhizen’s comments in
                                                                   good faith.

 

    	 

    	 

    

 

		5.5	TGTX
                                                                   Performance; Diligence.

 

		(a)	Level
                                                                       of Efforts in the Territory. TGTX shall devote Diligent
                                                                       Efforts to obtaining Regulatory Approval and thereafter
                                                                       Commercializing the Product in the Territory. Without limiting
                                                                       the generality of the foregoing, TGTX shall devote Diligent
                                                                       Efforts to Commercialize the Product in the Territory in
                                                                       accordance with the Commercialization Plan.

 

		(b)	Time
                                                                       to Launch Product. In addition to the requirements
                                                                       under Section 5.5(a), TGTX shall achieve First Commercial
                                                                       Sale of each Product: within a reasonable time after, but
                                                                       in no event more than 12 months after, the date on which
                                                                       Pricing Approval is granted for such Product in the U.S.
                                                                       and EU, provided that such Pricing Approval is deemed by
                                                                       TGTX, in consultation with the JSC, to be sufficiently
                                                                       profitable for Commercialization in such country. If, however,
                                                                       despite using diligent efforts it becomes difficult for
                                                                       TGTX to comply with the above-mentioned time limitations,
                                                                       then TGTX shall, without delay, inform Rhizen of the fact
                                                                       and explain the cause of such delay, and, such time limitations
                                                                       shall be extended to a reasonable extent as agreed between
                                                                       the Parties.

 

		(c)	Territory
                                                                       Reports. Following First Commercial Sale, TGTX shall
                                                                       present a written report to Rhizen at least semi-annually
                                                                       (and no later than June 30th and December 31st of each
                                                                       year) summarizing TGTX’s overall Commercialization
                                                                       activities undertaken with respect to the Product in or
                                                                       for the Territory pursuant to this Agreement, covering
                                                                       subject matter at a level of detail reasonably sufficient
                                                                       to enable Rhizen to determine TGTX’s compliance with
                                                                       its Diligent Efforts obligation pursuant to this Section
                                                                       5.5.

 

		5.6	Compliance.
                                                                   Each Party shall comply with all applicable Laws relating to
                                                                   activities performed or to be performed by such Party (or its
                                                                   Affiliates, contractor(s) or sublicensee(s)) under or in relation
                                                                   to the Commercialization of the Product pursuant to this Agreement.
                                                                   Each Party represents, warrants and covenants to the other
                                                                   Party that, as of the Effective Date and during the Term, such
                                                                   Party and its Affiliates have adequate procedures in place:
                                                                   (i) to ensure their compliance with such Laws; (ii) to bring
                                                                   any noncompliance therewith by any of the foregoing entities
                                                                   to its attention; and (iii) to promptly remedy any such noncompliance.
                                                                   TGTX shall be responsible for ensuring that all government
                                                                   reporting, sales, marketing and promotional practices with
                                                                   respect to the Product comply with applicable Laws. All promotional
                                                                   materials and labeling used by or on behalf of TGTX for the
                                                                   Product shall comply with applicable Laws and regulations.

 

    	 

    	 

    

 

ARTICLE
6

 

 

LICENSE
AND LICENSE OPTIONS

 

  

Licenses
to TGTX under Rhizen Technology. Subject to the terms and conditions of this Agreement, Rhizen hereby grants TGTX an exclusive
license under the Rhizen Technology without the right to sublicense except as expressly permitted by Section 6.4 hereof, to Develop,
use, sell and offer for sale, and import the Product in the Territory, in accordance
with this Agreement. Rhizen retains the exclusive right to manufacture the Product, including the Bulk API and Finished
Product in the Territory.

 

		6.1	No
                                                                   Implied Licenses. Except as explicitly set forth in this
                                                                   Agreement, neither Party grants any license, express or implied,
                                                                   under its intellectual property rights to the other Party.

 

		6.2	TGTX
                                                                   License Option. Within sixty (60) days following dosing
                                                                   the * Patient
                                                                   in one or more Phase II Clinical Trial(s) TGTX will have the
                                                                   exclusive right to convert this Agreement into a License Agreement.
                                                                   If TGTX exercises this Option, then both the parties will enter
                                                                   into a mutually agreed upon licensing agreement under substantially
                                                                   the same the terms and conditions as set forth in Exhibit F,
                                                                   provided however that the terms of Section 6 of the form of
                                                                   Licensing Agreement shall remain unchanged unless mutually
                                                                   agreed by the Parties.

 

		6.3	Rhizen
                                                                                                                                      License
                                                                                                                                      Option.
                                                                                                                                      Within
                                                                                                                                      sixty
                                                                                                                                      (60)
                                                                                                                                      days
                                                                                                                                      of
                                                                                                                                      commencement
                                                                                                                                      of
                                                                                                                                      a
                                                                                                                                      Phase
                                                                                                                                      III
                                                                                                                                      clinical
                                                                                                                                      trial
                                                                                                                                      where
                                                                                                                                      the
                                                                                                                                      Product
                                                                                                                                      is
                                                                                                                                      used
                                                                                                                                      either
                                                                                                                                      as
                                                                                                                                      a
                                                                                                                                      single
                                                                                                                                      agent
                                                                                                                                      or
                                                                                                                                      in
                                                                                                                                      Combination
                                                                                                                                      with
                                                                                                                                      another
                                                                                                                                      active
                                                                                                                                      pharmaceutical
                                                                                                                                      ingredient,
                                                                                                                                      Rhizen
                                                                                                                                      shall
                                                                                                                                      have
                                                                                                                                      the
                                                                                                                                      exclusive
                                                                                                                                      right
                                                                                                                                      to
                                                                                                                                      convert
                                                                                                                                      this
                                                                                                                                      Agreement
                                                                                                                                      into
                                                                                                                                      a
                                                                                                                                      License
                                                                                                                                      Agreement.
                                                                                                                                      If
                                                                                                                                      Rhizen
                                                                                                                                      exercises
                                                                                                                                      this
                                                                                                                                      Option,
                                                                                                                                      then
                                                                                                                                      both
                                                                                                                                      the
                                                                                                                                      parties
                                                                                                                                      will
                                                                                                                                      enter
                                                                                                                                      into
                                                                                                                                      a
                                                                                                                                      mutually
                                                                                                                                      agreed
                                                                                                                                      upon
                                                                                                                                      licensing
                                                                                                                                      agreement
                                                                                                                                      under
                                                                                                                                      substantially
                                                                                                                                      the
                                                                                                                                      same
                                                                                                                                      the
                                                                                                                                      terms
                                                                                                                                      and
                                                                                                                                      conditions
                                                                                                                                      as
                                                                                                                                      set
                                                                                                                                      forth
                                                                                                                                      in
                                                                                                                                      Exhibit
                                                                                                                                      F,
                                                                                                                                      provided
                                                                                                                                      however
                                                                                                                                      that
                                                                                                                                      the
                                                                                                                                      terms
                                                                                                                                      of
                                                                                                                                      Section
                                                                                                                                      6
                                                                                                                                      of
                                                                                                                                      the
                                                                                                                                      form
                                                                                                                                      of
                                                                                                                                      Licensing
                                                                                                                                      Agreement
                                                                                                                                      shall
                                                                                                                                      remain
                                                                                                                                      unchanged
                                                                                                                                      unless
                                                                                                                                      mutually
                                                                                                                                      agreed
                                                                                                                                      by
                                                                                                                                      the
                                                                                                                                      Parties.

 

		6.4	Sublicensing
                                                                   and Subcontracting: The license granted to TGTX by Rhizen
                                                                   hereunder includes the right for TGTX to grant sublicenses
                                                                   to its Affiliates and to Subcontractors in connection with
                                                                   such Subcontractors’ performance of subcontracted activities,
                                                                   provided that such subcontracted activities shall be subject
                                                                   to and subordinate to the terms and conditions of this Agreement.
                                                                   TGTX’s execution of a subcontracting agreement with any
                                                                   Subcontractor shall not relieve TGTX of any of its obligations
                                                                   under this Agreement. TGTX shall remain directly liable to
                                                                   Rhizen for any performance or non-performance of a Subcontractor
                                                                   that would be a breach of this Agreement if performed or omitted
                                                                   by TGTX, and TGTX shall be deemed to be in breach of this Agreement
                                                                   as a result of such performance or non-performance of such
                                                                   Subcontractor. TGTX shall use Diligent Efforts to include in
                                                                   any agreement with a Subcontractor express permission to assign
                                                                   all of the rights and obligations under such agreement to Rhizen
                                                                   without consent from the Subcontractor. TGTX agrees to take
                                                                   Diligent Efforts to enforce the terms of each subcontractor
                                                                   agreement to prevent a breach of any such agreement that would
                                                                   constitute a breach of this Agreement if performed or omitted
                                                                   by TGTX. Any sublicensing under the license granted to TGTX
                                                                   hereunder to any Third Party that is not a Subcontractor is
                                                                   expressly prohibited unless permitted by the JSC (i) following
                                                                   the expiration of the option rights pursuant to Sections 6.2
                                                                   and 6.3 hereof and (ii) an agreement of the parties on the
                                                                   equitable sharing of any resulting revenues.

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

		6.5	Change
                                                                   of Control. In the event that TGTX receives a bonafide,
                                                                   good faith offer from a Third Party to either (i) enter into
                                                                   a transaction that would result in a direct or indirect Change
                                                                   of Control of TGTX or (ii) pursuant to which the Third Party
                                                                   would purchase the assets of TGTX related to the Product (the
                                                                   “Product Assets”) and TGTX wishes to accept
                                                                   such Third Party offer, TGTX shall first afford to Rhizen a
                                                                   right of first refusal (the “Right of First Refusal”)
                                                                   to purchase TGTX or the Product Assets, as applicable, on the
                                                                   same terms as those offered by the Third Party. TGTX shall
                                                                   notify Rhizen in writing of the contemplated transaction (the
                                                                   “Notice to Rhizen”). Upon delivery of the
                                                                   Notice to Rhizen, Rhizen shall have 10 Business Days (the “Response
                                                                   Period”) to elect to purchase TGTX or the Product
                                                                   Assets, as applicable, by delivering a written notice to TGTX
                                                                   stating that it offers to purchase TGTX or the Product Assets,
                                                                   as applicable, on the terms offered by the Third Party (the
                                                                   “Notice To TGTX”). The Notice to TGTX shall
                                                                   be binding upon delivery and irrevocable by Rhizen, subject
                                                                   to execution of reasonably acceptable definitive agreements.
                                                                   If Rhizen does not deliver the Notice To TGTX within the Response
                                                                   Period, then Rhizen shall be deemed to have waived its rights
                                                                   under the Right of First Refusal and TGTX shall thereafter
                                                                   be free to enter the transaction with the Third Party. Each
                                                                   party shall take all actions as may be reasonably necessary
                                                                   to consummate a sale contemplated by this Section 6.5 including,
                                                                   without limitation, entering into agreements and delivering
                                                                   certificates and instruments and consents as may be deemed
                                                                   necessary or appropriate.

 

    	 

    	 

    

  

ARTICLE
7

 

 

MANUFACTURE
AND SUPPLY

 

  

		7.1	Roles
                                                                   of the Parties. 

 

a. Rhizen shall use diligent
efforts to supply, or cause to be supplied through its Third Party contract manufacturers, in a timely manner consistent with relevant
supply agreement between the parties, JV’s entire requirements of Bulk API and Finished Product for the Development and Commercialization
of the Product, as a single agent, by the Parties in or for the Territory, in accordance with this Article 7. Except with respect
to the clinical supply discussed in section 7.1(c) below, from the Effective Date through the end of the Early Development Period,
Rhizen shall supply all of JV’s Finished Product requirements for any pre-clinical, Phase I and Phase II Clinical Trials
as a single agent at Rhizen’s own expense. In addition, Rhizen will supply itself all of its requirements of Bulk API and/or
Finished Product to complete its obligations during the Early Development Period as a single agent.

 

b.
Rhizen shall use Diligent Efforts to supply, or cause to be supplied through its Third Party contract manufacturers, in a timely
manner, consistent with relevant supply agreement between the parties, JV’s entire requirements of Bulk API and Finished
Product for the Development and Commercialization of the Product, in a Combination,
by the Parties in or for the Territory, in accordance with this Article 7. Except with respect to the clinical supply discussed
in section 7.1(c) below, from the Effective Date through the end of the Early Development Period, Rhizen shall supply all of JV’s
Finished Product requirements for any pre-clinical, Phase I or Phase II Clinical Trial involving the Product in a Combination
at Rhizen’s own expense if such Combination includes *. For the sake of
clarity, this Section 7.1(b) only applies in the event that a Combination product incorporates the Compound with *.

 

c.
Rhizen shall use Diligent Efforts to supply, or cause to be supplied through its Third Party contract manufacturers, in a timely
manner, consistent with relevant supply agreement between the parties, JV’s entire requirements of Bulk API and Finished
Product for the Development and Commercialization of the Product as a single agent if drug supply is required to be supplied to
a clinical trial participant(s) after the completion of the Clinical Trial conducted during the Early Development Period. The
parties shall share these expenses pursuant to section 3.4.

 

d.
TGTX shall use Diligent Efforts to supply, or cause to be supplied through its Third Party contract manufacturers, in a timely
manner, consistent with relevant supply agreement between the parties, JV’s entire requirements of any bulk active ingredient
or finished product other than the Bulk API or Finished Product required for the Development and Commercialization of the Product
in a Combination by the Parties in or for the Territory if such Combination includes
solely *. For the sake of clarity, this Section 7.1(d)
only applies in the event that a Combination product incorporates solely *
with the Compound.

  

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

e.
JSC shall assign the responsibity to either Party to cause to be supplied through any Third Party contract manufacturers, in a
timely manner, consistent with relevant supply agreement between the parties,
JV’s entire requirements of the Bulk API and Finished Product and any other compound that is required for any pre-clinical,
Phase I or Phase II Clinical Trial involving the Product in a Combination with a compound other than * (or involving a Combination with * and yet another compound or compounds)
and the Parties shall share these expenses pursuant to Section 3.4.

 

f.
The Parties each covenant and agree that all supply agreements executed regarding the provision of any product or material pursuant
to this Agreement, shall contain customary representations and warranties regarding the manufacture of such products and materials,
including, but not limited to, that all materials shall be manufactured, handled and stored: (i) in accordance with the agreed
upon specification and (ii) in compliance with applicabale Laws and regulations, including, without limitation, the GMP requirements.

 

		7.2	Preclinical
                                                                   and Clinical Supply. Rhizen shall, by itself or through
                                                                   its Third Party contract manufacturers, use Diligent Efforts
                                                                   to supply to TGTX all quantities of Finished Product or Bulk
                                                                   API reasonably required by TGTX to Develop the Product in the
                                                                   Territory pursuant to the Development Plan. Such quantities
                                                                   of Finished Product, and the schedule for such supply, shall
                                                                   be confirmed and if necessary updated by the JSC in a manner
                                                                   consistent with the Development Plan. Such supply shall be
                                                                   governed by the clinical supply agreement that the Parties
                                                                   shall negotiate in good faith promptly within one hundred eighty
                                                                   (180) days following the Effective Date. The clinical supply
                                                                   agreement shall, in addition to other terms and conditions
                                                                   agreed upon by the Parties, provide for the following:

 

		(a)	Rhizen
                                                                       shall, before entering into negotiation for an agreement
                                                                       with a Third Party contract manufacturer of Bulk API or
                                                                       Finished Product for supply to TGTX hereunder, notify TGTX
                                                                       of the fact. Thereafter, TGTX shall have the right to provide
                                                                       reasonable input regarding the terms of such agreement
                                                                       (as well as any amendments thereof), review and comment
                                                                       on agreement drafts and forms, consult with Rhizen regarding
                                                                       the negotiation of such agreement, and participate in person
                                                                       in the negotiation of such agreement, as the Parties may
                                                                       agree, it being understood that Rhizen shall retain the
                                                                       final authority over the terms and conditions of any such
                                                                       agreement with such Third Party contractor. TGTX shall
                                                                       also have the right to conduct a general GMP/regulatory
                                                                       inspection of any manufacturing, packaging, labeling or
                                                                       storage facility in advance of the conclusion of any agreement.

 

		(b)	From
                                                                       time to time, TGTX shall submit to Rhizen purchase orders
                                                                       for quantities of Finished Product or Bulk API for such
                                                                       use consistent, as far as reasonably practicable, with
                                                                       such confirmed, or, if applicable, updated quantity and
                                                                       schedule which confirmation or update shall be consistent,
                                                                       as much as reasonably possible, with the then-current Development
                                                                       Plan and Rhizen shall supply or have supplied to TGTX such
                                                                       quantities of Finished Product. It shall not be a breach
                                                                       of this Agreement by Rhizen if it is unable to supply such
                                                                       quantities of Finished Product or Bulk API to the extent
                                                                       the quantities ordered were in excess of 120% of the quantities
                                                                       forecasted in the then-current Development Plan. All shipments
                                                                       to TGTX of Finished Product shall be made “Delivered
                                                                       Duty Paid” (Incoterms 2010) to a secondary packager
                                                                       or distribution center of TGTX’s choice.

 

		(c)	The
                                                                       cost for supplies from Rhizen of Finished Product or Bulk
                                                                       API for Development of the Product shall be equal to the
                                                                       actual external
                                                                       costs for such Finished Product or Bulk API plus
                                                                       the freight, postage, shipping, transportation, insurance,
                                                                       warehousing and handling charges actually allowed or paid
                                                                       by Rhizen or TGTX with regard to such Bulk API or Finished
                                                                       Product shall be included in the Development Expenses;
                                                                       provided, however, that following the exercise of either
                                                                       of the License Options, such amounts shall be invoiced
                                                                       and paid for by TGTX.

  

 

*
Confidential material redacted and filed separately with the Commission.

  

    	 

    	 

    

 

 

		(d)	All
                                                                       Finished Product or Bulk API supplied by Rhizen to TGTX
                                                                       shall, when delivered, have been manufactured, handled
                                                                       and stored by Rhizen or its Third Party contract manufacturer(s)
                                                                       in compliance with all agreed-upon specifications and applicable
                                                                       Laws, including without limitation then-current GMP requirements.

 

		(e)	For
                                                                       the purpose of this Section 7.2, both Parties shall abide
                                                                       by the above-mentioned (a) to (d) prior to the conclusion
                                                                       of a clinical supply agreement.

 

		7.3	GLOBAL
                                                                   MATERIAL & SUPPLY RIGHTS: Rhizen shall retain rights
                                                                   for manufacturing and supply of API and formulations for global
                                                                   development and commercialization either as a JV entity or
                                                                   as a Licensor; provided however, that Rhizen’s price
                                                                   is cost competitive (as described in 7.4(b)) and prior to the
                                                                   First Commercial Sale, the Parties shall timely negotiate in
                                                                   good faith and enter into a manufacturing and supply agreement.
                                                                   Such Commercial Supply Agreement shall contain customary terms
                                                                   governing such manufacturing and supply relationships, and
                                                                   shall provide as follows:

 

		(a)	Rhizen
                                                                       shall establish, by itself or through agreements with Third
                                                                       Parties, an appropriate manufacturing facility or contract
                                                                       manufacturer for the commercial Finished Product manufacture
                                                                       in a timely manner to ensure that Rhizen meets its obligation
                                                                       to supply quantities of Finished Product ordered by TGTX
                                                                       under the Commercial Supply Agreement. As further detailed
                                                                       in the Commercial Supply Agreement, upon
                                                                       the material and uncured breach by Rhizen of its defined
                                                                       supply obligations as set forth in the Commercial Supply
                                                                       Agreement, TGTX shall have the right to obtain transfer
                                                                       and Rhizen shall have the obligation to give transfer free
                                                                       of charge unless other wise determined by JSC to TGTX,
                                                                       without undue delay, of any and all manufacturing technology
                                                                       necessary to enable it to manufacture or have manufactured
                                                                       Finished Product to meet its requirements under this agrrement.
                                                                       As further detailed in the Commercial Supply Agreement,
                                                                       if such transfer occurs, Rhizen would grant,
                                                                       without prejudice to any other remedies that are
                                                                       available to TGTX, to
                                                                       TGTX any additional licenses necessary to enable TGTX to
                                                                       exercise the foregoing manufacturing right without requiring
                                                                       TGTX to pay any additional consideration for such licenses
                                                                       unless otherwise determine by JSC. 

 

		(b)	Rhizen
                                                                       shall be responsible for the Finished Manufacture, testing
                                                                       (including stability testing) and final release of the
                                                                       Finished Product for Commercialization in the Territory.
                                                                       With regard to the Finished Product manufactured by or
                                                                       on behalf of Rhizen and used or sold for Commercialization
                                                                       in the Territory, the Manufacturing Cost incurred by Rhizen
                                                                       for the Finished Manufacture of the Finished Product thus
                                                                       used or sold in the Territory hereunder, as well as the
                                                                       freight, postage, shipping, transportation, insurance,
                                                                       warehousing and handling charges actually allowed or paid
                                                                       by Rhizen with regard to such Finished Product shall be
                                                                       included in the Cost of Goods Sold in the calculation of
                                                                       the Product Profit/Loss. 

 

		7.4	Manufacturer
                                                                   Source.

 

		(a)	The
                                                                       Parties shall establish an appropriate facility or contract
                                                                       manufacturing organization for handling Finished Manufacture
                                                                       as follows: Rhizen shall be responsible for screening potential
                                                                       manufacturers, negotiating the applicable supply agreement,
                                                                       and effecting the technology transfer as necessary to establish
                                                                       and qualify Bulk API and Finished Product manufacturers,
                                                                       whether those are Rhizen, its Affiliates, or Third Parties;
                                                                       provided, that, TGTX shall have the right to provide input
                                                                       regarding the terms of such agreements (as well as any
                                                                       amendments thereof), review and comment on agreement drafts
                                                                       and forms, consult with Rhizen regarding the negotiation
                                                                       of such agreements between Rhizen and Third Party contract
                                                                       manufacturers, and conduct a general GMP/regulatory inspection
                                                                       of the proposed manufacturing facilities as the Parties
                                                                       may agree, it being understood that Rhizen shall retain
                                                                       the final authority over the terms and conditions of any
                                                                       such agreements with such Third Party contractors unless
                                                                       either of the License Options are exercised, in which case,
                                                                       TGTX would have final authority. In case the manufacturing
                                                                       sources are not the Parties or their Affiliates but rather
                                                                       are Third Party contractors, then the reasonable costs
                                                                       incurred by the Parties in connection with the establishment
                                                                       of such manufacturing sources shall
                                                                       be treated as Commercial Expenses.

 

    	 

    	 

    

 

		(b)	Notwithstanding
                                                                                                                                          7.4(a),
                                                                                                                                          Rhizen
                                                                                                                                          shall
                                                                                                                                          be
                                                                                                                                          responsible
                                                                                                                                          for
                                                                                                                                          using
                                                                                                                                          Diligent
                                                                                                                                          Efforts
                                                                                                                                          to
                                                                                                                                          minimize
                                                                                                                                          the
                                                                                                                                          Manufacturing
                                                                                                                                          Cost
                                                                                                                                          of
                                                                                                                                          the
                                                                                                                                          Finished
                                                                                                                                          Product.
                                                                                                                                          In
                                                                                                                                          order
                                                                                                                                          to
                                                                                                                                          ensure
                                                                                                                                          a
                                                                                                                                          competitive
                                                                                                                                          rate
                                                                                                                                          of
                                                                                                                                          Manufacturing
                                                                                                                                          Cost
                                                                                                                                          is
                                                                                                                                          obtained,
                                                                                                                                          the
                                                                                                                                          facility
                                                                                                                                          or
                                                                                                                                          contract
                                                                                                                                          manufacturer
                                                                                                                                          used
                                                                                                                                          by
                                                                                                                                          Rhizen
                                                                                                                                          to
                                                                                                                                          produce
                                                                                                                                          the
                                                                                                                                          Finished
                                                                                                                                          Product
                                                                                                                                          must
                                                                                                                                          provide
                                                                                                                                          manufacturing
                                                                                                                                          services
                                                                                                                                          at
                                                                                                                                          a
                                                                                                                                          Manufacturing
                                                                                                                                          Cost
                                                                                                                                          within
                                                                                                                                          *%
                                                                                                                                          of
                                                                                                                                          a
                                                                                                                                          Manufacturing
                                                                                                                                          Cost
                                                                                                                                          of
                                                                                                                                          an
                                                                                                                                          alternative
                                                                                                                                          contract
                                                                                                                                          manufacturing
                                                                                                                                          organization
                                                                                                                                          of
                                                                                                                                          equal
                                                                                                                                          repute
                                                                                                                                          and
                                                                                                                                          quality,
                                                                                                                                          where
                                                                                                                                          the
                                                                                                                                          comparative
                                                                                                                                          manufacturing
                                                                                                                                          cost
                                                                                                                                          are
                                                                                                                                          measured
                                                                                                                                          as
                                                                                                                                          an
                                                                                                                                          average
                                                                                                                                          of
                                                                                                                                          such
                                                                                                                                          cost
                                                                                                                                          over
                                                                                                                                          the
                                                                                                                                          immediately
                                                                                                                                          preceding
                                                                                                                                          Twelve
                                                                                                                                          (12)
                                                                                                                                          month
                                                                                                                                          period.
                                                                                                                                          In
                                                                                                                                          the
                                                                                                                                          event
                                                                                                                                          that
                                                                                                                                          Rhizen
                                                                                                                                          does
                                                                                                                                          not
                                                                                                                                          provide
                                                                                                                                          manufacturing
                                                                                                                                          services
                                                                                                                                          at
                                                                                                                                          the
                                                                                                                                          cost
                                                                                                                                          required
                                                                                                                                          in
                                                                                                                                          this
                                                                                                                                          Section
                                                                                                                                          7.4(b),
                                                                                                                                          then
                                                                                                                                          TGTX
                                                                                                                                          shall
                                                                                                                                          have
                                                                                                                                          the
                                                                                                                                          right
                                                                                                                                          to
                                                                                                                                          directly
                                                                                                                                          procure
                                                                                                                                          manufacturing
                                                                                                                                          services
                                                                                                                                          in
                                                                                                                                          its
                                                                                                                                          discretion.
                                                                                                                                          

 

 

*
Confidential material redacted and filed separately with the Commission.

  

    	 

    	 

    

   

ARTICLE
8

 

  

COMPENSATION

 

  

		8.1	Initiation
                                                                   Fee.

 

		(a)	No
                                                                       later than ten (10) days after the Effective Date, TGTX
                                                                       shall pay to Rhizen a fee of One Million Dollars ($1,000,000)
                                                                       as initiation of the JV, by wire transfer of immediately
                                                                       available funds into an account designated by Rhizen in
                                                                       writing.

 

	 	(b)	In addition, within thirty (30) days following notification by TGTX to Rhizen that the *(*) patient has been dosed in one or more Phase 1 Clinical Trials, TGTX shall pay to Rhizen an additional collaboration fee of * Dollars ($*) (the “Milestone Payment”) by wire transfer of immediately available funds into an account designated by Rhizen in writing, provided that this Agreement has not been terminated pursuant to Section 13.

 

		(c)	Such
                                                                       collaboration fees once paid shall be fully earned, non-refundable
                                                                       and non-creditable against any other payments due hereunder.

 

		8.2	Sharing
                                                                   of Commercial Expenses and Product Profit/Loss. During
                                                                   the Term but post Early
                                                                   Development Period, assuming none of the License Options
                                                                   have been exercised, the Parties shall share Product Profit/Loss
                                                                   for each Finished Product based on their respective P/L Sharing
                                                                   Percentage. Within twenty (20) Business Days of the
                                                                   end of each calendar quarter following the First Commercial
                                                                   Sale of the Finished Product, TGTX shall report to the JSC
                                                                   its revenues and Commercial Expense items (with appropriate
                                                                   supporting information) involved in the computation of Product
                                                                   Profit/Loss and accrued during such quarter with respect to
                                                                   each such Finished Product (the “Quarterly P/L Report”).
                                                                   Similarly, Rhizen shall report to the JSC its Commercial Expense
                                                                   items (including appropriate supporting information). Such
                                                                   Quarterly P/L reports shall be in such form as the Parties
                                                                   may agree from time to time. In addition, TGTX shall provide
                                                                   Rhizen with a monthly statement of the amount of gross sales
                                                                   of Product by country in the Territory. The Parties shall calculate
                                                                   and share such Product Profit/Losses based on each Party’s
                                                                   respective P/L Sharing Percentage on a calendar quarterly basis
                                                                   and shall make reconciliation, if necessary, for this purpose
                                                                   of sharing such Product Profit/Losses, within twenty (20) Business
                                                                   Days after TGTX provides its quarterly report to the JSC. For
                                                                   the avoidance of doubt, if Commercial Expenses exceed Net Sales,
                                                                   then each party shall reimburse the other party for such Commercial
                                                                   Expenses such that each party’s share of the Commercial
                                                                   Expenses is equal to its P/L Sharing Percentage. If either
                                                                   Party fails to contribute their portion of the Product Profit/Loss
                                                                   and Commercial Expenses, such Party’s P/L Share Percentage
                                                                   shall be reduced pro rata to the extent of the Product Profit/Loss
                                                                   and Commercial Expenses that they do not fund as a percentage
                                                                   of the total accumulated Commercial Expenses and Product Profit/Loss
                                                                   to date, however, in no event shall Rhizen’s P/L Share
                                                                   Percentage be reduced below *%. Such adjustment
                                                                   to a party’s P/L share % shall be
                                                                   the sole remedy hereunder for such failure. Additionally,
                                                                   with regard to Commercial Expenses incurred by either Party
                                                                   before the First Commercial Sale, such expenses shall be included
                                                                   in Development Expenses and shared pursuant to Section 3.4.
                                                                   Alternately, both Parties may
                                                                   devise a feasible legal structure to address Product
                                                                   Profit/Loss
                                                                   for simplified obligations with regard to maintenance of financial
                                                                   records and audits of either party,
                                                                   including tax benefits, if any, and
                                                                   if agreed to by both Parties.

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

 

		8.3	The
                                                                   Quarterly P/L Report will be subject to a true-up adjustment
                                                                   to take into account deductions under the definition of Net
                                                                   Sales either (a) allowed during a calendar quarter that were
                                                                   not accrued during such calendar quarter, or (b) accrued during
                                                                   a calendar quarter but not taken or later subject to a reversal
                                                                   following the end of such calendar quarter (each of (a) and
                                                                   (b), a “True-up Adjustment”). Each Quarterly P/L
                                                                   Report provided by TGTX shall set forth the amount of any True-up
                                                                   Adjustment applicable to any prior calendar quarter.

 

		8.4	Taxes.

 

		(a)	Cooperation
                                                                       and Coordination. The Parties acknowledge and agree
                                                                       that it is their mutual objective and intent to minimize,
                                                                       to the extent feasible and legal, taxes payable with respect
                                                                       to their collaborative efforts under this Agreement and
                                                                       that they shall use all commercially reasonable efforts
                                                                       to cooperate and coordinate with each other to achieve
                                                                       such objective.

 

		(b)	Payment
                                                                       of Tax. A Party receiving a payment pursuant to this
                                                                       Article 8 shall pay any and all taxes levied on such payment.
                                                                       If applicable Law requires that taxes be deducted and withheld
                                                                       from a payment made pursuant to this Article 8, the remitting
                                                                       Party shall promptly notify the other Party and provide
                                                                       all relevant information available to it and (i) deduct
                                                                       those taxes from the payment; (ii) pay the taxes to the
                                                                       proper taxing authority; and (iii) send evidence of the
                                                                       obligation together with proof of payment to the other
                                                                       Party within sixty (60) days following that payment.

 

		(c)	Tax
                                                                       Residence Certificate. A Party (including any entity
                                                                       to which this Agreement may be assigned, as permitted under
                                                                       Section 15.5) receiving a payment pursuant to this Article
                                                                       8 shall provide the remitting Party appropriate certification
                                                                       from relevant revenue authorities that such Party is a
                                                                       tax resident of that jurisdiction (a “Tax Residence
                                                                       Certificate”), if such receiving Party wishes
                                                                       to claim the benefits of an income tax treaty to which
                                                                       that jurisdiction is a party. Upon the receipt thereof,
                                                                       any deduction and withholding of taxes shall be made at
                                                                       the appropriate treaty tax rate.

 

		(d)	Assessment.
                                                                       Either Party may, at its own expense, protest any assessment,
                                                                       proposed assessment, or other claim by any Governmental
                                                                       Authority for any additional amount of taxes, interest
                                                                       or penalties or seek a refund of such amounts paid if permitted
                                                                       to do so by applicable Law. The Parties shall cooperate
                                                                       with each other in any protest by providing records and
                                                                       such additional information as may reasonably be necessary
                                                                       for a Party to pursue such protest.

 

		8.5	Foreign
                                                                   Exchange. The rate of exchange to be used in computing
                                                                   the amount of currency equivalent in Dollars owed to a Party
                                                                   under this Agreement shall be made at the period-end rate of
                                                                   exchange quoted on the last day of the applicable calendar
                                                                   quarter by Citibank in New York City.

 

		8.6	Late
                                                                   Payments. If a Party does not receive payment of any sum
                                                                   due to it on or before the due date, simple interest shall
                                                                   thereafter accrue on the sum due to such Party until the date
                                                                   of payment at the per annum rate of 3% over the then-current
                                                                   LIBOR, or the maximum rate allowable by applicable Law, whichever
                                                                   is lower.

 

    	 

    	 

    

 

		8.7	Records;
                                                                   Audits.  Each Party shall maintain complete and accurate
                                                                   records in sufficient detail to permit the other Party to confirm
                                                                   the accuracy of the calculation of payments to the other Party
                                                                   under this Agreement. Upon reasonable prior notice, such records
                                                                   shall be available during regular business hours of audited
                                                                   Party for a period of three (3) years from the creation of
                                                                   individual records for examination at auditing Party’s
                                                                   expense, and not more often than once each Fiscal Year, by
                                                                   an independent certified public accountant selected by auditing
                                                                   Party and reasonably acceptable to audited Party, for the sole
                                                                   purpose of verifying the accuracy of the financial reports
                                                                   furnished pursuant to this Agreement. Any such auditor shall
                                                                   not disclose audited Party’s Confidential Information,
                                                                   except to the extent such disclosure is necessary to verify
                                                                   the accuracy of the financial reports furnished by audited
                                                                   Party or the amount of payments due by audited Party under
                                                                   this Agreement. Any amounts shown to be owed but unpaid shall
                                                                   be paid within thirty (30) days from the accountant’s
                                                                   report, plus interest (as set forth in Section 8.7 ) from the
                                                                   original due date. Any amounts determined to be overpaid shall
                                                                   be refunded within thirty (30) days from the accountant’s
                                                                   report. The auditing Party shall bear the full cost of such
                                                                   audit unless such audit discloses an underpayment of the amount
                                                                   actually owed during the applicable Fiscal Year of more than
                                                                   5%, in which case audited Party shall bear the full cost of
                                                                   such audit.

 

    	 

    	 

    

  

ARTICLE
9

 

  

INTELLECTUAL
PROPERTY MATTERS

 

  

		9.1	Ownership of Inventions and
                                                                   Know How. Any new invention pertaining to the Product made
                                                                   alone or jointly by the parties will be owned by both parties
                                                                   (“Joint Inventions”), unless otherwise determined
                                                                   by the JSC to be owned by solely by one Party (a “Sole
                                                                   Invention”).

 

Further, the
JSC shall determine:

 

a) If either party is
eligible for any payment or consideration in lieu of the invention and/or royalty; or

 

b) If the licensing of
such Joint Inventions by either Party to a Third Party could have a material adverse effect on the Product or the Development
or Commercialization of the Product, then such Party will not be able to consummate such Third Party licensing.

 

Inventorship
shall be determined by the JSC in accordance with U.S. patent Laws. Sole inventions owned by TGTX and TGTX’s interest in
all Joint Inventions shall be included in the TGTX Technology. Sole Inventions owned by Rhizen and Rhizen’s interest in
all Joint Inventions shall be included in the Rhizen Technology.

 

Joint
Know-How shall be owned jointly by the Parties.

 

		9.2	Disclosure
                                                                                                        of Inventions. Each
                                                                                                        Party shall promptly disclose
                                                                                                        to the other any invention
                                                                                                        disclosures, or other
                                                                                                        similar documents, submitted
                                                                                                        to it by its employees,
                                                                                                        agents or independent
                                                                                                        contractors describing
                                                                                                        inventions that may be
                                                                                                        either Sole Inventions
                                                                                                        or Joint Inventions, and
                                                                                                        all Information relating
                                                                                                        to such inventions. Sole
                                                                                                        Inventions and Joint Inventions
                                                                                                        required or deemed useful
                                                                                                        by the JSC for the Development
                                                                                                        or Commercialization of
                                                                                                        the Product, shall automatically
                                                                                                        be included in this Agreement
                                                                                                        and available for use
                                                                                                        by the Parties in the
                                                                                                        Territory, and by Rhizen
                                                                                                        outside the Territory.

 

		9.3	Prosecution
                                                                                                        of Patents.

 

		(a)	Rhizen
                                                                       Patents Other than Joint Patents. Except as otherwise
                                                                       provided in this Section 9.3(a), Rhizen shall have the
                                                                       sole right, authority and obligation to file, prosecute
                                                                       and maintain the Rhizen Patents (other than Joint Patents
                                                                       which shall be prosecuted and maintained in accordance
                                                                       with Section 9.3(b)) on a worldwide basis. Rhizen shall
                                                                       provide TGTX reasonable opportunity to review and comment
                                                                       on such prosecution efforts regarding such Rhizen Patents
                                                                       in the Territory. Rhizen shall provide TGTX with a copy
                                                                       of material communications from any patent authority in
                                                                       the Territory regarding such Rhizen Patents, and shall
                                                                       provide TGTX with drafts of any material filings or responses
                                                                       to be made to such patent authorities a reasonable amount
                                                                       of time in advance of submitting such filings or responses.
                                                                       Notwithstanding the foregoing, if Rhizen desires to abandon
                                                                       or not maintain any Patent within such Rhizen Patents in
                                                                       the Territory, then Rhizen shall provide TGTX with thirty
                                                                       (30) days prior written notice of such desire (or such
                                                                       longer period of time as reasonably necessary to allow
                                                                       TGTX to assume such responsibilities) and, if TGTX so requests,
                                                                       shall provide TGTX with the opportunity to prosecute and
                                                                       maintain such Patent in the Territory in place of Rhizen.
                                                                       If TGTX desires Rhizen to file, in the Territory, a patent
                                                                       application that claims priority from a Patent within the
                                                                       Rhizen Patents, other than a Joint Patent, in the Territory,
                                                                       TGTX shall provide written notice to Rhizen requesting
                                                                       that Rhizen file such patent application in the Territory.
                                                                       If TGTX provides such written notice to Rhizen, Rhizen
                                                                       shall either (i) file and prosecute such patent application
                                                                       and maintain any patent issuing thereon in the Territory
                                                                       or (ii) notify TGTX that Rhizen does not desire to file
                                                                       such patent application and provide TGTX with the opportunity
                                                                       to file and prosecute such patent application and maintain
                                                                       any patent issuing thereon in the Territory in place of
                                                                       Rhizen

 

    	 

    	 

    

 

		(b)	Joint
                                                                       Patents. Except as otherwise provided in this Section
                                                                       9.3(b), the JSC shall entrust one party the right and authority,
                                                                       to prosecute and maintain the Joint Patents on a worldwide
                                                                       basis at its sole discretion herein referred to as an “Entrusted
                                                                       Party” (subject to this Section 9.3(b)). The
                                                                       Entrusted Party shall provide the other party reasonable
                                                                       opportunity to review and comment on such prosecution efforts
                                                                       regarding such Joint Patents. The Entrusted Party shall
                                                                       provide the other party with a copy of material communications
                                                                       from any patent authority regarding such Joint Patents,
                                                                       and shall provide the other party with drafts of any material
                                                                       filings or responses to be made to such patent authorities
                                                                       a reasonable amount of time in advance of submitting such
                                                                       filings or responses. If one Party( the “First Party”)
                                                                       determines in its sole discretion to abandon or not maintain
                                                                       any Patent within the Joint Patents anywhere in the world,
                                                                       then the First Party shall provide the other party (the
                                                                       “Second Party”) with thirty (30) days’
                                                                       prior written notice of such determination (or such longer
                                                                       period of time reasonably necessary to allow the other
                                                                       party to assume such responsibilities) and shall provide
                                                                       the Second Party with the opportunity to prosecute and
                                                                       maintain such Patent in place of the First Party at such
                                                                       Second Party’s sole expense, and if the Second Party
                                                                       so requests, the First Party shall assign such Patent to
                                                                       the Second Party (if the Second Party is Rhizen in which
                                                                       case such Patent shall be included in the Rhizen Patents
                                                                       or if the Second Party is TGTX, in which case such patent
                                                                       shall be included in the TGTX patents). If one (the “First
                                                                       Party”) party desires the other party (the “Second
                                                                       Party”) to file, in a particular jurisdiction, a
                                                                       patent application that claims priority from a Patent within
                                                                       the Joint Patents, the First Party shall provide written
                                                                       notice to the Second Party expressing its desire to file
                                                                       such patent application in such jurisdiction. If the First
                                                                       Party provides such written notice to the Second Party
                                                                       , the Second Party shall either (i) express its agreement
                                                                       in writing to the First Party and the Entrusted Party shall
                                                                       file and prosecute such patent application and maintain
                                                                       any patent issuing thereon in such jurisdiction at its
                                                                       expense, or (ii) notify the First party that the Second
                                                                       Party does not desire to file such patent application and
                                                                       provide the First Party with the opportunity to file and
                                                                       prosecute such patent application and maintain any patent
                                                                       issuing thereon at it’s sole expense in place of
                                                                       the Second Party , in which case the Second
                                                                       Party shall assign such patent application  to
                                                                       the First Party (and in which case such Patent shall be
                                                                       included in the respective party’s Patents).

 

		(c)	Cooperation
                                                                       in Prosecution. Each Party shall provide the other
                                                                       Party all reasonable assistance and cooperation in the
                                                                       Patent prosecution efforts of the Rhizen Patents and Joint
                                                                       Patents including providing any necessary powers of attorney
                                                                       and executing any other required documents or instruments
                                                                       for such prosecution.

 

		(d)	Costs
                                                                       of Prosecution. The costs to prosecute and maintain
                                                                       the Patents related to the Product shall be considered
                                                                       Development Expenses and shared according to Section 3.4;
                                                                       provided , however, if either of the License Options are
                                                                       exercised then the cost of prosecution of any Rhizen Patent,
                                                                       shall be borne by Rhizen.

 

    	 

    	 

    

 

		9.4	Patent
                                                                                                        Term Extensions in the
                                                                                                        Territory. Each Party
                                                                                                        shall discuss and recommend
                                                                                                        to the JSC for which,
                                                                                                        if any, of the Rhizen
                                                                                                        Patents, TGTX Patents,
                                                                                                        and Joint Patents the
                                                                                                        Parties should seek Patent
                                                                                                        Term Extensions in the
                                                                                                        Territory, following which
                                                                                                        the JSC shall recommend
                                                                                                        to either of the parties
                                                                                                        which of the Rhizen Patents,
                                                                                                        TGTX Patents, or Joint
                                                                                                        Patents should be the
                                                                                                        subject of such Patent
                                                                                                        Term Extension application;
                                                                                                        provided, however, that
                                                                                                        JSC shall have the final
                                                                                                        decision-making authority
                                                                                                        with respect to applying
                                                                                                        for any such Patent Term
                                                                                                        Extensions in the Territory.
                                                                                                        Each party shall cooperate
                                                                                                        fully with the other in
                                                                                                        making such filings or
                                                                                                        actions, for example and
                                                                                                        without limitation, making
                                                                                                        available all required
                                                                                                        regulatory data and information
                                                                                                        and executing any required
                                                                                                        authorizations to apply
                                                                                                        for such Patent Term Extension.
                                                                                                        All activities and expenses
                                                                                                        thereof of the Parties
                                                                                                        pursuant to this Section
                                                                                                        9.4 for the Territory
                                                                                                        shall be deemed Development
                                                                                                        Expenses, unless either
                                                                                                        of the License Options
                                                                                                        have been exercised then
                                                                                                        such expenses shall be
                                                                                                        borne solely by TGTX.

 

		9.5	Infringement
                                                                   of Patents by Third Parties.

 

		(a)	Notification.
                                                                       Each Party shall promptly notify the other Party in writing
                                                                       of any existing or threatened infringement of the Rhizen
                                                                       Patents, Joint Patents or TGTX Patents of which it becomes
                                                                       aware, and shall provide evidence in such Party’s
                                                                       possession demonstrating such infringement.

 

		(b)	Infringement of Patents
in the Territory.

 

		(i)	If a Party becomes aware
that a Third Party infringes any Rhizen Patent, TGTX Patent, or Joint Patent in the Territory by making, using, importing, offering
for sale or selling the Product or any similar PI3K selective inhibitor covered by any of such Patents (such activities, “Product
Infringement”), then such Party shall so notify the other Party as provided in Section 9.5(a), which such notice shall
include all Information available to the notifying Party regarding such alleged infringement.

 

		(ii)	In the Territory, TGTX shall
have the first right, but not the obligation, to bring an appropriate suit or other action against any person or entity engaged
in such Product Infringement, subject to Section 9.5(b)(iii) below, the cost and expense of which will be included in Commercial
Expenses (except as otherwise expressly provided in this Section 9.5(b)(ii)); provided, however, if either of the License Options
is exercised then the cost and expense will be borne by TGTX. TGTX shall have a period of  sixty (60) days (or
shorter period, if required by the nature of  the proceeding) after notification by Rhizen or providing notification
to Rhizen pursuant to section 9.5(a), to elect to so enforce such Patent. In the event TGTX does not so elect, it shall so notify
Rhizen in writing during such  sixty (60) day time period (or the above-mentioned shorter period), and Rhizen
shall have the right, but not the obligation, to commence a suit or take action to enforce the applicable Patent against such
Third Party perpetrating such Product Infringement at its sole cost and expense (except as otherwise expressly provided in this
Section 9.5(b)(ii). Each Party shall provide to the Party enforcing any such rights under this Section 9.5(b)(ii) reasonable assistance
in such enforcement, at such enforcing Party’s request, including joining such action as a party plaintiff if required by
applicable Law to pursue such action. The enforcing Party shall keep the other Party regularly informed of the status and progress
of such enforcement efforts, and shall reasonably consider the other Party’s comments on any such efforts. Any recoveries
obtained from a suit or an action commenced by TGTX hereunder shall first be applied to the recovery of expenses incurred by TGTX
and Rhizen in bringing the suit or action; and the remaining amounts, if any, shall be shared by the Parties according to Section
8.2; provided, however, if either License Option is exercised, then any recoveries obtained from a suit or an action commenced
by TGTX hereunder shall first be applied to the recovery of expenses incurred by TGTX in bringing the suit or action and the remaining
amounts, if any, shall be deemed additional Net Sales; provided, further, however, if Rhizen proceeds with the enforcement after
TGTX decides not to move forward, then any amounts recovered shall belong solely to Rhizen.

 

    	 

    	 

    

 

		(iii)	The Party not bringing an
action with respect to Product Infringement in the Territory under Section 9.5(b) shall be entitled to separate representation
in such matter by counsel of its own choice and at its own expense, but such Party shall at all times cooperate fully with the
Party bringing such action. Additionally, the Party not bringing an action under this Section 9.5(b) may have an opportunity to
participate in such action to the extent that the Parties may mutually agree at the time the other Party elects to bring an action
hereunder.

 

		(c)	Settlement.
                                                                       TGTX shall not settle any claim, suit or action that it
                                                                       brings under this Section 9.5 involving Rhizen Patents
                                                                       (excluding Joint Patents) in any manner that would negatively
                                                                       impact Rhizen Patents anywhere in the world, or that would
                                                                       limit or restrict the ability of either Party to manufacture,
                                                                       use, sell, offer for sale or import the Product anywhere
                                                                       in the world, without the prior written consent of Rhizen.
                                                                       Rhizen shall not settle any claim, suit or action that
                                                                       it brings under this Section 9.5 involving TGTX Patents
                                                                       (excluding Joint Patents) in any manner that would negatively
                                                                       impact the TGTX Patents or that would limit or restrict
                                                                       the ability of either Party to manufacture, use, sell,
                                                                       offer for sale or import the Product anywhere in the world,
                                                                       without the prior written consent of TGTX. Neither Party
                                                                       shall settle any claim, suit or action that it brings under
                                                                       this Section 9.5 involving Joint Patents in any manner
                                                                       that would negatively impact the Joint Patents or that
                                                                       would limit or restrict the ability of either Party to
                                                                       manufacture, use, sell, offer for sale or import the Product
                                                                       anywhere in the world, without the prior written consent
                                                                       of such other Party.

 

		9.6	Infringement
                                                                                                        of Third Party Rights
                                                                                                        in the Territory.

 

		(a)	Notice.
                                                                       If any Product manufactured, used or sold by either Party,
                                                                       its Affiliates, licensees or sublicensees becomes the subject
                                                                       of a Third Party’s claim or assertion of infringement
                                                                       of a Patent granted by a jurisdiction within the Territory
                                                                       relating to the manufacture, use, sale, offer for sale
                                                                       or importation of the Product, the Party first having notice
                                                                       of the claim or assertion shall promptly notify the JSC,
                                                                       and the Parties shall promptly meet to consider the claim
                                                                       or assertion and the appropriate course of action for an
                                                                       approval by the JSC.

 

		(b)	Defense.
                                                                       The Parties, working through the JSC, shall cooperate to
                                                                       defend any such claims under the strategy, terms and conditions
                                                                       as may be authorized by the JSC. Unless otherwise agreed,
                                                                       TGTX shall be the leading Party for such defense. The Parties
                                                                       shall make decisions with regard to such actions covered
                                                                       by this Section 9.6 jointly through the JSC in accordance
                                                                       with the provisions of Sections 2.3 , provided that any
                                                                       unresolved disputes shall not be subject to settlement
                                                                       by expedited arbitration and, in the case of any unresolved
                                                                       dispute, each Party named as a defendant in such action
                                                                       shall be entitled upon written notice to defend itself
                                                                       in such matter independently by counsel of its own choice
                                                                       and at its own expense; provided, that each Party shall
                                                                       inform the other Party of the progress of such defense
                                                                       and, if reasonably requested by the other Party, shall
                                                                       reasonably cooperate with the other Party. For so long
                                                                       as the Parties continue to pursue such matter jointly through
                                                                       the JSC, all costs and expenses of any defense actions
                                                                       under this Section 9.6(b) shall be considered Commercial
                                                                       Expenses and shared as in Section 8.2. In any action pursued
                                                                       jointly by the Parties through the JSC, the non-leading
                                                                       Party shall reasonably cooperate with the leading Party,
                                                                       including if required to conduct such defense, furnishing
                                                                       a power of attorney. The non-leading Party shall have the
                                                                       right to confer, through the JSC, with the leading Party
                                                                       in any such defense and the leading Party shall consider
                                                                       in good faith such input from the non-leading Party.

 

    	 

    	 

    

 

		(c)	Settlement.
                                                                       Neither Party shall enter into any settlement of any claim
                                                                       described in this Section 9.6 that affects the other Party’s
                                                                       rights or interests without such other Party’s written
                                                                       consent, which consent shall not be unreasonably withheld
                                                                       or delayed.

 

		(d)	Settlement
                                                                       Payment. Any amounts that either Party becomes obligated
                                                                       to pay as a result of any settlement of or decision rendered
                                                                       in any defense pursuant to this Section 9.6 with respect
                                                                       to the manufacture, use, sale, offer for sale or import
                                                                       of the Product in or for the Territory shall be shared
                                                                       as provided in Section 8.2.

 

		9.7	Patent
                                                                                                        Oppositions and Other
                                                                                                        Proceedings. If either
                                                                                                        Party desires to bring
                                                                                                        an opposition, action
                                                                                                        for declaratory judgment,
                                                                                                        nullity action, interference,
                                                                                                        declaration for non-infringement,
                                                                                                        reexamination or other
                                                                                                        attack upon the validity,
                                                                                                        title or enforceability
                                                                                                        of a Patent owned or controlled
                                                                                                        by a Third Party that
                                                                                                        covers, in the Territory,
                                                                                                        the Product, or the manufacture,
                                                                                                        use, sale, offer for sale
                                                                                                        or importation of the
                                                                                                        Product (except insofar
                                                                                                        as such action is a counterclaim
                                                                                                        to or defense of, or accompanies
                                                                                                        a defense of, a Third
                                                                                                        Party’s claim or
                                                                                                        assertion of infringement
                                                                                                        under Section 9.6, in
                                                                                                        which case the provisions
                                                                                                        of Section 9.6 shall govern),
                                                                                                        such Party shall so notify
                                                                                                        the JSC and the Parties
                                                                                                        shall promptly confer
                                                                                                        to determine whether to
                                                                                                        bring such action or the
                                                                                                        manner in which to settle
                                                                                                        such action for the approval
                                                                                                        by the JSC. The Parties
                                                                                                        working jointly through
                                                                                                        the JSC shall cooperate
                                                                                                        to assert any such claims
                                                                                                        under the strategy, terms
                                                                                                        and conditions as may
                                                                                                        be authorized by the JSC.
                                                                                                        Unless otherwise agreed,
                                                                                                        the JSC shall designate
                                                                                                        TGTX as the leading Party
                                                                                                        for such claims. The Parties
                                                                                                        shall make decisions jointly
                                                                                                        through the JSC in accordance
                                                                                                        with the provisions of
                                                                                                        Sections 2.3. For so long
                                                                                                        as the Parties continue
                                                                                                        to pursue such matter
                                                                                                        jointly through the JSC,
                                                                                                        all costs and expenses
                                                                                                        of any actions or settlement
                                                                                                        efforts under this Section
                                                                                                        9.7 shall be shared pursuant
                                                                                                        to Section 8.2. In any
                                                                                                        action pursued jointly
                                                                                                        by the Parties through
                                                                                                        the JSC, the non-leading
                                                                                                        Party shall cooperate
                                                                                                        fully with the leading
                                                                                                        Party, including, if required,
                                                                                                        to conduct such defense,
                                                                                                        furnishing a power of
                                                                                                        attorney. The non-leading
                                                                                                        Party shall have the right
                                                                                                        to confer with the leading
                                                                                                        Party, and the leading
                                                                                                        Party shall consider in
                                                                                                        good faith input from
                                                                                                        the non-leading Party.
                                                                                                        Any awards or amounts
                                                                                                        received in bringing any
                                                                                                        such action, if any, shall
                                                                                                         be first
                                                                                                        allocated to reimburse
                                                                                                        the Parties’ respective
                                                                                                        expenses in such action,
                                                                                                        and any remaining amounts
                                                                                                        shall be shared pursuant
                                                                                                        to Section 8.2; provided,
                                                                                                        however, if either of
                                                                                                        the License Options is
                                                                                                        exercised then the entire
                                                                                                        cost of the action shall
                                                                                                        be borne by TGTX, who
                                                                                                        shall have the final decision
                                                                                                        making authority over
                                                                                                        such action, and any awards
                                                                                                        or amounts received in
                                                                                                        bringing such action shall
                                                                                                        first be allocated to
                                                                                                        reimburse TGTX for their
                                                                                                        expenses in such action
                                                                                                        and any remaining amounts
                                                                                                        shall be deemed additional
                                                                                                        Net Sales.

 

		9.8	Parties’
                                                                                                        Patent Rights. If
                                                                                                        a Rhizen Patent, Joint
                                                                                                        Patent or TGTX Patent
                                                                                                        becomes the subject of
                                                                                                        any proceeding commenced
                                                                                                        by a Third Party within
                                                                                                        the Territory in connection
                                                                                                        with an opposition, reexamination
                                                                                                        request, action for declaratory
                                                                                                        judgment, nullity action,
                                                                                                        interference or other
                                                                                                        attack upon the validity,
                                                                                                        title or enforceability
                                                                                                        thereof (except insofar
                                                                                                        as such action is a counterclaim
                                                                                                        to or defense of, or accompanies
                                                                                                        a defense of, an action
                                                                                                        for infringement against
                                                                                                        a Third Party under Section
                                                                                                        9.5, in which case the
                                                                                                        provisions of Section
                                                                                                        9.5 shall govern), then
                                                                                                        the Party owning or otherwise
                                                                                                        Controlling such Patent
                                                                                                        shall promptly notify
                                                                                                        the other Party of such
                                                                                                        effect and discuss with
                                                                                                        the other Party how to
                                                                                                        defend such proceedings.
                                                                                                        The Party owning or otherwise
                                                                                                        Controlling such Patent
                                                                                                        shall, in close communication
                                                                                                        and discussion with the
                                                                                                        other Party, control such
                                                                                                        defense and shall solely
                                                                                                        bear the costs of such
                                                                                                        defense; provided that
                                                                                                        if such action relates
                                                                                                        to a Joint Patent, the
                                                                                                        Parties shall confer and
                                                                                                        determine which Party
                                                                                                        shall control such action
                                                                                                        and bear the associated
                                                                                                        costs. The controlling
                                                                                                        Party shall permit the
                                                                                                        non-controlling Party
                                                                                                        to participate in the
                                                                                                        proceeding to the extent
                                                                                                        permissible under applicable
                                                                                                        Law, and to be represented
                                                                                                        by its own counsel in
                                                                                                        such proceeding, at the
                                                                                                        non-controlling Party’s
                                                                                                        expense. Any awards or
                                                                                                        amounts received in defending
                                                                                                        any such Third-Party action,
                                                                                                        if any, shall be first
                                                                                                        allocated to reimburse
                                                                                                        the Controlling Party’s
                                                                                                        expenses in such action,
                                                                                                        and any remaining amounts
                                                                                                        shall be shared pursuant
                                                                                                        to Section 8.2; provided,
                                                                                                        however, if either of
                                                                                                        the License Options have
                                                                                                        been exercised, then TGTX
                                                                                                        shall bear the expense
                                                                                                        and any remaining amounts
                                                                                                        shall first be used to
                                                                                                        reimburse TGTX’s
                                                                                                        expenses and any remainder
                                                                                                        shall be deemed additional
                                                                                                        Net Sales.

 

    	 

    	 

    

 

		9.9	Orange
                                                                                                        Book Listing, Compendial
                                                                                                        Listing. Rhizen shall
                                                                                                        allow TGTX to file appropriate
                                                                                                        information with the Regulatory
                                                                                                        Authority in the Territory
                                                                                                        listing any Rhizen Patents
                                                                                                        in the Orange Book or
                                                                                                        equivalent in the US and
                                                                                                        EU and each other country
                                                                                                        of the Territory, that
                                                                                                        JV deems appropriate,
                                                                                                        if any, as a Patent related
                                                                                                        to the Product and the
                                                                                                        Parties shall use Diligent
                                                                                                        Efforts to obtain and
                                                                                                        maintain such listing.

			

 

		9.10	Rights to Intellectual Property in India.

 

		(a)	TGTX hereby grants Rhizen a
                                                                   perpetual, exclusive, royalty-free license, with the right
                                                                   to sublicense, to the Joint Patents and a perpetual, non-exclusive,
                                                                   royalty-free license to the Joint Know-How to make, have made,
                                                                   use, sell, offer for sale, and import the Product outside the
                                                                   Territory.  Outside the Territory, Rhizen shall have the
                                                                   right, but not the obligation, at Rhizen’s sole expense,
                                                                   to bring an appropriate suit or other action against any person
                                                                   or entity engaged in Product Infringement of the Joint Patents.
                                                                   TGTX shall provide to Rhizen when enforcing any such rights
                                                                   under this Section 9.10 reasonable assistance in such enforcement,
                                                                   at Rhizen’s request and cost, including joining such
                                                                   action as a party plaintiff if required by applicable Law to
                                                                   pursue such action.

 

		(b)	The Parties agree that in the
                                                                   event Rhizen desires to use the TGTX Technology, other than
                                                                   the Joint Patents and the Joint Know-How, for any purpose outside
                                                                   of the Territory, then Rhizen shall pay such fair market value
                                                                   royalties and/or fees to TGTX that the Parties determine by
                                                                   future written agreement. Each Party agrees to negotiate in
                                                                   good faith to execute an agreement regarding the subject matter
                                                                   of this paragraph.

  

		(c)	For the purpose of this Section 9.10, TGTX Technology shall exclude any rights related to *.

 

 

*
Confidential material redacted and filed separately with the Commission.

 

    	 

    	 

    

  

ARTICLE
10

 

  

REPRESENTATIONS
AND WARRANTIES

 

  

		10.1	        Mutual
                                                                    Representations and Warranties. Each Party hereby represents,
                                                                    warrants, and covenants (as applicable) to the other Party
                                                                    as follows:

 

		a.	Corporate
                                                                                                     Existence and Power.
                                                                                                     It is a company or corporation
                                                                                                     duly organized, validly existing,
                                                                                                     and in good standing under
                                                                                                     the Laws of the jurisdiction
                                                                                                     in which it is incorporated,
                                                                                                     and has full corporate power
                                                                                                     and authority and the legal
                                                                                                     right to own and operate
                                                                                                     its property and assets and
                                                                                                     to carry on its business
                                                                                                     as it is now being conducted
                                                                                                     and as contemplated in this
                                                                                                     Agreement, including, without
                                                                                                     limitation, the right to
                                                                                                     grant the licenses granted
                                                                                                     by it hereunder.

 

		b.	Authority
                                                                                                     and Binding Agreement.
                                                                                                     As of the Effective Date,
                                                                                                     (i) it has the corporate
                                                                                                     power and authority and the
                                                                                                     legal right to enter into
                                                                                                     this Agreement and perform
                                                                                                     its obligations hereunder;
                                                                                                     (ii) it has taken all necessary
                                                                                                     corporate action on its part
                                                                                                     required to authorize the
                                                                                                     execution and delivery of
                                                                                                     the Agreement and the performance
                                                                                                     of its obligations hereunder;
                                                                                                     and (iii) the Agreement has
                                                                                                     been duly executed and delivered
                                                                                                     on behalf of such Party,
                                                                                                     and constitutes a legal,
                                                                                                     valid, and binding obligation
                                                                                                     of such Party that is enforceable
                                                                                                     against it in accordance
                                                                                                     with its terms.

 

		c.	No
                                                                                                     Conflict. It is not a
                                                                                                     party to any agreement that
                                                                                                     would prevent it from granting
                                                                                                     the rights granted to the
                                                                                                     other Party under this Agreement
                                                                                                     or performing its obligations
                                                                                                     under this Agreement. The
                                                                                                     execution, delivery and performance
                                                                                                     of this Agreement shall not
                                                                                                     violate, conflict with or
                                                                                                     constitute a default under
                                                                                                     any agreement (including
                                                                                                     its corporate charter or
                                                                                                     other organizational documents)
                                                                                                     to which it is a party or
                                                                                                     to which it may be bound,
                                                                                                     or to its best knowledge,
                                                                                                     any applicable Laws or order
                                                                                                     of any court or other tribunal.

 

		d.	No
                                                                                                     Debarment. In the course
                                                                                                     of the Development and Commercialization
                                                                                                     of the Product, each Party
                                                                                                     has not used and shall not
                                                                                                     use, during the term of this
                                                                                                     Agreement, any employee or
                                                                                                     consultant who has been debarred
                                                                                                     by any Regulatory Authority,
                                                                                                     or is the subject of debarment
                                                                                                     proceedings by a Regulatory
                                                                                                     Authority.

 

		10.2	        Additional
                                                                    Representations, Warranties and Covenants of Rhizen. Rhizen
                                                                    represents, warrants and covenants (as applicable) to TGTX
                                                                    as follows, as of the Effective Date:

 

		a.	Regulatory
                                                                                                     Materials and Studies.
                                                                                                     To the best of Rhizen’s
                                                                                                     knowledge, all Regulatory
                                                                                                     Materials Controlled by Rhizen
                                                                                                     in existence as of the Effective
                                                                                                     Date and to which TGTX has
                                                                                                     rights of use or reference
                                                                                                     hereunder (collectively,
                                                                                                     “Rhizen Regulatory
                                                                                                     Materials”), including
                                                                                                     the Regulatory Materials
                                                                                                     described in Section 4.1(a),
                                                                                                     have been prepared, maintained
                                                                                                     and retained in accordance
                                                                                                     with applicable Laws. All
                                                                                                     preclinical studies conducted
                                                                                                     with respect to the Product
                                                                                                     in connection with the preparation
                                                                                                     of the Rhizen Regulatory
                                                                                                     Materials, including such
                                                                                                     studies from which the data
                                                                                                     described in Section 4.1(a)
                                                                                                     are derived, have been conducted
                                                                                                     substantially in accordance
                                                                                                     with applicable Laws
                                                                                                     by persons with appropriate
                                                                                                     education, knowledge and
                                                                                                     experience. Rhizen
                                                                                                     has not been debarred and
                                                                                                     is not subject to debarment,
                                                                                                     in each case pursuant to
                                                                                                     Section 306 of the FD&C
                                                                                                     Act or any similar law or
                                                                                                     regulation in any jurisdiction
                                                                                                     outside the United States.

 

    	 

    	 

    

 

		b.	Sufficiency
                                                                                                     of License Grants.

 

		i.	Except as set forth on Schedule
10.2(b)(i) hereto, the Rhizen Patents are not subject to any encumbrance, lien or claim or ownership by any Third Party that is
inconsistent with the rights and (sub)licenses granted to TGTX hereunder;

 

		ii.	Except as set forth on Schedule
10.2(b)(ii) hereto, Rhizen owns or possesses adequate right, title and interest in any Rhizen Patents to grant the license thereto
to TGTX as provided in Article 6;

 

		iii.	No claim or litigation has
been brought or, to the knowledge of Rhizen, is threatened to be brought, by any person or entity alleging that (A) any of the
Rhizen Patents in the Territory is invalid or unenforceable, or (B) practice of any of the Rhizen Technology in the Territory
infringes or otherwise conflicts or interferes with any intellectual property or proprietary right of any Third Party;

 

		iv.	To the knowledge of Rhizen,
prior to the Effective Date, no Third Party has infringed or misappropriated any Rhizen Technology by making, using, importing,
offering for sale or selling the Product and, as of the Effective Date, there is no actual or threatened infringement or misappropriation
of the Rhizen Technology by any Third Party by making, using, importing, offering for sale or selling the Product;

 

		v.	Except as set forth on Schedule
10.2(b)(v), to the knowledge of Rhizen, neither (A) TGTX’s exercise of its rights hereunder with respect to the Rhizen Technology,
nor (B) Rhizen’s or TGTX’s Development or Commercialization of the Product in the Territory, shall infringe any valid
and enforceable Patent or other intellectual property right or other proprietary right of any Third Party;

 

		vi.	This Agreement is consistent
with all of the Third Party License Agreements in all respects and does not conflict with, violate, breach or otherwise give rise
to a default by Rhizen under, any term of each of the Third Party License Agreement;

 

		vii.	Rhizen has obtained any
and all consents, if any, required from Third Parties for Rhizen to enter into this Agreement and to grant to TGTX the licenses
and other rights provided herein and has provided a copy of such consents to TGTX;

 

		viii.	Rhizen owns or possesses
adequate right, title and interest in the Rhizen Know-How to grant the license thereto to TGTX as provided in Article 6;

 

		c.	Supply
                                                                                                     of Bulk API or Finished Product
                                                                                                     by Rhizen. All Bulk API
                                                                                                     or the Finished Product supplied
                                                                                                     by Rhizen to TGTX pursuant
                                                                                                     to this Agreement shall be
                                                                                                     manufactured, handled and
                                                                                                     stored by Rhizen or its Third
                                                                                                     Party contract manufacture(s):
                                                                                                     (i) in accordance with the
                                                                                                     agreed upon specification
                                                                                                     and (ii) in compliance with
                                                                                                     applicable Laws and regulations,
                                                                                                     including without limitation,
                                                                                                     the GMP requirements.

 

		d.	Listing
                                                                                                     of Backup Compounds.
                                                                                                     The list set forth on Exhibit
                                                                                                     G includes all Backup Compounds
                                                                                                     as of the Effective Date.

 

		10.3	Additional
Representations of TGTX.

 

		a.	TGTX
                                                                represents and warrants that it will comply with the U.K. Bribery
                                                                Act, the United States Foreign Corrupt Practices Act and any and
                                                                all other Applicable Laws prohibiting corruption or bribery (collectively
                                                                referred to as the “Anti-Corruption Laws”);
                                                                and

 

    	 

    	 

    

 

		b.	TGTX
                                                                agrees, represents and warrants that (i) it (and its Affiliates)
                                                                shall transport, store, distribute, sell and promote the Product
                                                                in compliance with all applicable Laws, and (ii) any calculated
                                                                prices or other data or information that used by TGTX for reporting
                                                                purposes pursuant to the rules and regulations of any federal
                                                                or state government programs, shall be current, accurate and complete
                                                                and shall comply with applicable Laws.

 

		10.4	        Disclaimer.
                                                                     TGTX understands that the Product is the subject of ongoing
                                                                    clinical research and development and that Rhizen cannot assure
                                                                    the safety or usefulness of the Product. In addition, Rhizen
                                                                    makes no warranties except as set forth in this Agreement
                                                                    concerning the Rhizen Technology.

 

		10.5	        No
                                                                    Other Representations or Warranties. EXCEPT AS EXPRESSLY
                                                                    STATED IN THIS AGREEMENT, NO REPRESENTATIONS OR WARRANTIES
                                                                    WHATSOEVER, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT
                                                                    LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
                                                                    PURPOSE, NON-INFRINGEMENT, OR NON-MISAPPROPRIATION OF THIRD
                                                                    PARTY INTELLECTUAL PROPERTY RIGHTS, ARE MADE OR GIVEN BY OR
                                                                    ON BEHALF OF A PARTY. ALL REPRESENTATIONS AND WARRANTIES,
                                                                    WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE HEREBY
                                                                    EXPRESSLY EXCLUDED.

 

    	 

    	 

    

 

ARTICLE
11

 

  

INDEMNIFICATION

 

  

		11.1	        Indemnification
                                                                    by each Party. Each Party hereby agrees to defend, indemnify,
                                                                    and hold the other Party and its officers, directors, employees,
                                                                    and agents harmless from and against any and all Third Party
                                                                    claims, suits, proceedings, damages, expenses (including court
                                                                    costs and reasonable attorneys’ fees and expenses),
                                                                    and recoveries, including product liability claims (collectively,
                                                                    “Claims”) to the extent that such Claims
                                                                    arise out of, are based on, or result from (a)
                                                                    a breach by the indemnifying Party of its representations,
                                                                    warranties, and obligations under the Agreement; or (b) the
                                                                    willful misconduct or grossly negligent acts of the indemnifying
                                                                    Party or its Affiliates, or the officers, directors, employees,
                                                                    or agents of such indemnifying Party or its Affiliates. The
                                                                    foregoing indemnity obligation shall not apply to the extent
                                                                    that any Claim arises from, is based on, or results from (i)
                                                                    a breach of any of the representations, warranties,
                                                                    and obligations under the Agreement by the Party seeking indemnity;
                                                                    or (ii) the
                                                                    willful misconduct or grossly negligent acts of the Party
                                                                    seeking indemnity or its Affiliates, or the officers, directors,
                                                                    employees, or agents of such Party. The foregoing indemnity
                                                                    obligation shall not apply if the applicable indemnitees fail
                                                                    to comply with the indemnification procedures set forth in
                                                                    Section 11.2. Expenses relating to any other Claims resulting
                                                                    directly or indirectly from the manufacture, use, handling,
                                                                    storage, sale or other disposition of the Product in the U.S.
                                                                    shall be shared equally by the Parties at the time such expenses
                                                                    are required to be paid.

 

		11.2	        Indemnification
                                                                    Procedures. The Party claiming indemnity under this Article
                                                                    11 (the “Indemnified Party”) shall give
                                                                    written notice to the Party from whom indemnity is being sought
                                                                    (the “Indemnifying Party”) promptly after
                                                                    learning of such Claim. In the event of a claim relating to
                                                                    the U.S., the Parties shall confer as to whether such claim
                                                                    would result in indemnification under Section 11.1 and in
                                                                    any event how to respond to the claim. The Indemnified Party
                                                                    shall provide the Indemnifying Party with reasonable assistance,
                                                                    at the Indemnifying Party’s expense, in connection with
                                                                    the defense of the Claim for which indemnity is being sought.
                                                                    The Indemnified Party may participate in and monitor such
                                                                    defense with counsel of its own choosing at its sole expense;
                                                                    provided, however, the Indemnifying Party shall have the right
                                                                    to assume and conduct the defense of the Claim with counsel
                                                                    of its choice. The Indemnifying Party shall not settle any
                                                                    claim without the prior written consent of the Indemnified
                                                                    Party, such consent not to be unreasonably withheld, unless
                                                                    the settlement involves only the payment of money. So long
                                                                    as the Indemnifying Party is actively defending the Claim
                                                                    in good faith, the Indemnified Party shall not settle any
                                                                    such Claim without the prior written consent of the Indemnifying
                                                                    Party. If the Indemnifying Party does not assume and conduct
                                                                    the defense of the Claim as provided above, (a) the Indemnified
                                                                    Party may defend against, and consent to the entry of any
                                                                    judgment or enter into any settlement with respect to the
                                                                    claim in any manner the Indemnified Party may deem reasonably
                                                                    appropriate (and the Indemnified Party need not consult with,
                                                                    or obtain any consent from, the Indemnifying Party in connection
                                                                    therewith), and (b) the Indemnifying Party shall remain responsible
                                                                    to indemnify the Indemnified Party as provided in this Article
                                                                    11.

 

		11.3	        Limitation
                                                                    of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER
                                                                    FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR INDIRECT
                                                                    DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT,
                                                                    REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES.
                                                                    NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION 11.3
                                                                    IS INTENDED TO OR SHALL LIMIT OR RESTRICT THE DAMAGES AVAILABLE
                                                                    FOR A PARTY’S BREACH OF THE CONFIDENTIALITY OBLIGATIONS
                                                                    IN ARTICLE 12.

 

    	 

    	 

    

 

		11.4	        Insurance.
                                                                    Each Party shall procure and maintain insurance, including
                                                                    product liability and other appropriate insurance, adequate
                                                                    to cover its obligations hereunder and which are consistent
                                                                    with normal business practices of prudent companies similarly
                                                                    situated at all times during which any Product is being clinically
                                                                    tested in human subjects or commercially distributed or sold.
                                                                    It is understood that such insurance shall not be construed
                                                                    to create a limit of either Party’s liability with respect
                                                                    to its indemnification obligations under this Article 11.
                                                                    Each Party shall provide the other with written evidence of
                                                                    such insurance upon request. Each Party shall provide the
                                                                    other with written notice at least thirty (30) days prior
                                                                    to the cancellation, non-renewal or material change in such
                                                                    insurance or self-insurance which materially adversely affects
                                                                    the rights of the other Party hereunder.

 

    	 

    	 

    

  

ARTICLE
12

 

 

CONFIDENTIALITY

 

  

		12.1	           Confidentiality.
                                                                         Except to the extent expressly authorized by this
                                                                         Agreement or otherwise agreed in writing by the Parties,
                                                                         each Party agrees that, for the Term and until the later
                                                                         of (i) the tenth (10th) anniversary of the Effective
                                                                         Date, or (ii) five (5) years after the expiration or
                                                                         termination of the Term, it shall keep confidential and
                                                                         shall not publish or otherwise disclose and shall not
                                                                         use for any purpose other than as provided for in this
                                                                         Agreement any Confidential Information furnished to it
                                                                         by the other Party pursuant to this Agreement except
                                                                         for that portion of such information or materials that
                                                                         the receiving Party can demonstrate by competent written
                                                                         proof:

 

		(a)	was
                                                                       already known to the receiving Party or its Affiliate,
                                                                       other than under an obligation of confidentiality to the
                                                                       disclosing party ,at the time of disclosure by the other
                                                                       Party as evidenced by written documentation;

 

		(b)	was
                                                                       generally available to the public or otherwise part of
                                                                       the public domain at the time of its disclosure to the
                                                                       receiving Party;

 

		(c)	became
                                                                       generally available to the public or otherwise part of
                                                                       the public domain after it disclosure and other than through
                                                                       any act or omission of the receiving Party in breach of
                                                                       this Agreement;

 

		(d)	was
                                                                       disclosed to the receiving Party or its Affiliate by a
                                                                       Third Party without obligations of confidentiality with
                                                                       respect thereto; or

 

		(e)	was
                                                                       independently discovered or developed by the receiving
                                                                       Party or its Affiliate without the aid, application, or
                                                                       use of Confidential Information of the other Party as evidenced
                                                                       by written documentation; provided, however, that this
                                                                       exception shall not apply to information or materials consisting
                                                                       of data and results generated or resulting from Development
                                                                       activities with respect to the Product, which information
                                                                       and materials shall be deemed Confidential Information
                                                                       of the Party who has developed such information or materials
                                                                       regardless of whether such information and materials were
                                                                       independently discovered or developed by the receiving
                                                                       Party or its Affiliate.

 

		12.2	        Authorized
                                                                    Disclosure. Each Party may disclose Confidential Information
                                                                    belonging to the other Party to the extent such disclosure
                                                                    is reasonably necessary in the following situations:

 

		(a)	filing
                                                                       or prosecuting Patents as permitted in this Agreement;

 

		(b)	regulatory
                                                                       submissions and other filings with Governmental Authorities,
                                                                       including filings with the Securities and Exchange Commission;

 

		(c)	prosecuting
                                                                       or defending litigation or other proceedings or regulatory
                                                                       actions;

 

		(d)	complying
                                                                       with applicable Laws;

 

		(e)	disclosure
                                                                       to its employees, agents, and consultants, and any Third
                                                                       Parties (and potential licensees and) with which a Party
                                                                       is Developing or Commercializing the Product) only on a
                                                                       need-to-know basis and solely as necessary in connection
                                                                       with the performance of this Agreement, provided that in
                                                                       each case the recipient of such Confidential Information
                                                                       must agree to be bound by similar obligations of confidentiality
                                                                       and non-use at least as equivalent in scope as those set
                                                                       forth in this Article 12 prior to any such disclosure;
                                                                       and

 

    	 

    	 

    

 

		(f)	disclosure
                                                                       of the material financial terms of this Agreement to any
                                                                       bona fide potential investor, investment banker, acquiror,
                                                                       merger partner, or other potential financial partner; provided
                                                                       that in connection with such disclosure, the disclosing
                                                                       Party shall use all reasonable efforts to inform each recipient
                                                                       of the confidential nature of such Confidential Information
                                                                       and shall cause each recipient of such Confidential Information
                                                                       to treat such Confidential Information as confidential.

 

Notwithstanding
the foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant
to clause (a) through (d) of this Section 12.2, it shall, except where prohibited by applicable Law, give reasonable advance notice
to the other Party of such disclosure and use reasonable efforts to secure confidential treatment of such information. In any
event, the Parties agree to take all reasonable action to avoid disclosure of Confidential Information hereunder.

 

		12.3	        Publicity;
                                                                    Terms of Agreement.

 

		(a)	The
                                                                       Parties agree that the material terms of this Agreement
                                                                       are included within the Confidential Information of both
                                                                       Parties, subject to the special authorized disclosure provisions
                                                                       set forth below in this Section 12.3. The Parties have
                                                                       agreed to make a joint public announcement of the execution
                                                                       of this Agreement substantially in the form of the press
                                                                       release attached as Exhibit A on or after the Effective
                                                                       Date. 

 

		(b)	After
                                                                       release of such press release, if either Party desires
                                                                       to make a public announcement concerning the material terms
                                                                       of this Agreement, such Party shall give reasonable prior
                                                                       advance notice of the proposed text of such announcement
                                                                       to the other Party for its prior review and approval (except
                                                                       as otherwise provided herein), such approval not to be
                                                                       unreasonably withheld. A Party commenting on such a proposed
                                                                       press release shall provide its comments, if any, within
                                                                       five (5) Business Days after receiving the press release
                                                                       for review. Neither Party shall be required to seek the
                                                                       permission of the other Party to repeat any information
                                                                       regarding the terms of this Agreement that has already
                                                                       been publicly disclosed or previously agreed to by such
                                                                       Party, or by the other Party, in accordance with this Section
                                                                       12.3.

 

		(c)	The
                                                                       Parties acknowledge that TGTX will be obligated to file
                                                                       a copy of this Agreement with the U.S. Securities and Exchange
                                                                       Commission (the “SEC”). TGTX shall be
                                                                       entitled to make such a required filing, provided that
                                                                       it requests confidential treatment of certain commercial
                                                                       terms and sensitive technical terms hereof to the extent
                                                                       such confidential treatment is reasonably available to
                                                                       TGTX. In the event of any such filing, TGTX shall provide
                                                                       Rhizen with a copy of the Agreement marked to show provisions
                                                                       for which TGTX intends to seek confidential treatment and
                                                                       shall reasonably consider and incorporate Rhizen’s
                                                                       comments thereon to the extent consistent with the legal
                                                                       requirements governing redaction of information from material
                                                                       agreements that must be publicly filed. Rhizen shall promptly
                                                                       provide any such comments. Rhizen recognizes that U.S.
                                                                       Laws and SEC policies and regulations to which TGTX is
                                                                       and may become subject may require TGTX to publicly disclose
                                                                       certain terms of this Agreement that Rhizen may prefer
                                                                       not be disclosed, and that TGTX is, after completing the
                                                                       above mentioned procedures, entitled hereunder to make
                                                                       such required disclosures to the extent legally required.

 

    	 

    	 

    

 

		12.4	           Publications.
                                                                    Neither Party may publish peer reviewed manuscripts, or give
                                                                    other forms of public disclosure such as abstracts and presentations,
                                                                    of results of studies carried out under this Agreement with
                                                                    respect to the Territory, without the opportunity for prior
                                                                    review by the other Party. Each Party shall provide the other
                                                                    Party the opportunity to review and comment on any proposed
                                                                    manuscripts or presentations which relate to any Product at
                                                                    least thirty (30) days prior to their intended submission
                                                                    for publication or presentation. Each Party shall consider
                                                                    the comments of the other Party and shall remove any and all
                                                                    of the other Party’s Confidential Information at the
                                                                    request of such other Party. A Party seeking publication shall
                                                                    also provide the other Party a copy of the manuscript at the
                                                                    time of the submission. Neither Party shall have the right
                                                                    to publish or present the other Party’s Confidential
                                                                    Information without the other Party’s prior written
                                                                    consent, except as expressly permitted in this Agreement.

 

		12.5	           Injunction.
                                                                    Each Party shall be entitled, in addition to any other
                                                                    right or remedy it may have, at Law or in equity, to seek
                                                                    an injunction in any court of competent jurisdiction,
                                                                    enjoining or restraining the other Party or its Affiliates
                                                                    from any violation or threatened violation of this Article
                                                                    12.

 

    	 

    	 

    

  

ARTICLE
13

 

  

TERM
AND TERMINATION

 

  

		13.1	           Term.
                                                                                This Agreement shall become effective on the
                                                                                Effective Date and, unless earlier terminated
                                                                                pursuant to this Article 13, shall remain in effect
                                                                                in the Territory until the earlier to occur of:

 

(i)
the exercise of the TGTX License Option and the effective date of the License Agreement between the Parties with respect thereto;

 

(ii)
the exercise of the Rhizen License Option and the effective date of the License Agreement between the Parties with respect thereto;
and

 

(iii)
the later to occur of (A) the expiration of the last applicable patent of the Joint Patents, the Rhizen Patents or TGTX Patents,
or (B) the expiry of any other exclusivity right with respect to the Product in a country, including patent term extensions, marketing
exclusivity or any other non-patent exlusivity.

 

		13.2	        Termination.
                                                                    

 

		(a)	Early
                                                                          Withdrawal by TGTX without any cause. TGTX shall
                                                                          have the right to terminate this Agreement, in its entirety,
                                                                          upon written notice to Rhizen by at least six (6) months’
                                                                          written notice prior to the effective date of termination.
                                                                          If TGTX terminates this Agreement pursuant to this Section
                                                                          13.2(a), then:

 

		(i)	TGTX shall not, during the
applicable notice period, take any action that could adversely affect or impair the further Development and Commercialization
of the Product.

 

		(ii)	The JSC shall coordinate
the wind-down of TGTX’s efforts under this Agreement.

 

		(iii)	TGTX shall not be responsible
for any payments that become due to Rhizen pursuant to this Agreement that are incurred
or accrued during the applicable notice period, other than those that relate to reimbursement of Development and Commercial Expenses
based on the P/L Sharing Percentage in effect at the time of termination, subject to determination by the JSC.

 

		(iv)	Provided TGTX terminates
both (1) prior to enrollment of * patient as described in
Section 8.1(b) and (2) after the filing of an IND or CTA with a Regulatory Agency, then TGTX shall pay Rhizen an amount equal
to *% of the Milestone Payment. For the sake of clarity, if either condition of the proviso of the preceding sentence
is not satisfied, then TGTX will have no obligation to make any cash payment to Rhizen upon termination of this Agreement pursuant
to this Section 13.2(a) (except for any cost sharing pursuant to Section 13.2(a(iii)).

 

		(b)	Withdrawal
                                                                          by TGTX with cause. TGTX shall have the right to
                                                                          terminate this Agreement, in its entirety, for
                                                                          Cause upon written notice to Rhizen by at least
                                                                          six (6) months’ written notice prior to the effective
                                                                          date of termination. If TGTX terminates this Agreement
                                                                          pursuant to this Section 13.2(b), then:

 

 

*
Confidential material redacted and filed separately with the Commission.

  

    	 

    	 

    

		 	 

		(i)	TGTX shall not, during the
applicable notice period, take any action that could adversely affect or impair the further Development and Commercialization
of the Product.

 

		(ii)	The JSC shall coordinate
the wind-down of TGTX’s efforts under this Agreement.

 

		(iii)	TGTX shall not be responsible
for any payments that become due to Rhizen pursuant to this Agreement that were incurred or accrued during the applicable notice
period, other than those that relate to reimbursement of Development and Commercial Expenses based on the P/L Sharing Percentage
in effect at the time of termination, subject to determination by the JSC.

 

	 	(iv)	Provided TGTX terminates both (1) prior to enrollment of * patient as described in Section 8.1(b) and (2) after the filing of an IND or CTA with a Regulatory Agency, then TGTX shall pay Rhizen an amount equal to *% of the Milestone Payment. For the sake of clarity, if either condition of the proviso of the preceding sentence is not satisfied, then TGTX will have no obligation to make any cash payment to Rhizen upon termination of this Agreement pursuant to this Section 13.2(b) (except for any cost sharing pursuant to Section 13.2(b(iii)).

 

		(c)	Termination
                                                                          for Breach.

 

		(i)	Rhizen shall have the right
to terminate this Agreement upon written notice to TGTX if TGTX, after receiving written notice identifying such material breach
by TGTX, fails to cure such material breach within ninety (90) days from the date of such notice ; provided, that if such
breach cannot be remedied within such 90-day period (including a breach caused by a Financial Force Majeure) and TGTX has provided
Rhizen with a written plan, reasonably acceptable to Rhizen, setting forth the activities to be performed by TGTX to remedy such
breach, then Rhizen may not terminate this Agreement during such time as TGTX is diligently pursuing the performance of the activities
described in the plan; and provided, further, that if such material breach relates solely to a particular country in the Territory,
then Rhizen may terminate this Agreement only with respect to the applicable country but may not terminate this Agreement with
respect to any other countries. Additionally, all the timeframes for curing a breach shall be stayed pending resolution of any
disputes related to such purported breach.

 

		(ii)	TGTX shall have the right
to terminate this Agreement upon written notice to Rhizen if Rhizen, after receiving written notice identifying a material breach
by Rhizen of its obligations under this Agreement, fails to cure such material breach within ninety (90) days from the date of
such notice; provided, that if such breach cannot be remedied within such 90-day period (including a breach caused by a Financial
Force Majeure) and Rhizen has provided TGTX with a written plan, reasonably acceptable to TGTX, setting forth the activities to
be performed by Rhizen to remedy such breach, then TGTX may not terminate this Agreement during such time as Rhizen is diligently
pursuing the performance of the activities described in the plan; and provided, further, that if such material breach relates
solely to a particular country in the Territory, then TGTX may terminate this Agreement only with respect to the applicable country
but may not terminate this Agreement with respect to any other countries. Additionally, all the timeframes for curing a breach
shall be stayed pending resolution of any disputes related to such purported breach.

 

 

*
Confidential material redacted and filed separately with the Commission.

  

    	 

    	 

    

 

		(iii)	For
                                                                       clarity, if a Party elects not to exercise its rights to
                                                                       terminate this Agreement pursuant to this Section 13.2(c)
                                                                       for the other Party’s uncured material breach or
                                                                       pursuant to Section 13.5, but instead elects to allow this
                                                                       Agreement to continue in effect, then the breaching Party
                                                                       shall continue to be liable to the other Party for any
                                                                       breach of representations, warranties, obligations or agreements
                                                                       made in this Agreement by such breaching Party, and the
                                                                       non-breaching Party shall be entitled to pursue legal and
                                                                       equitable remedies arising from such breach that are available
                                                                       to it.

 

		(d)	Termination
                                                                          for Insolvency. In the event that either Party makes
                                                                          an assignment for the benefit of creditors, appoints
                                                                          or suffers appointment of a receiver or trustee over
                                                                          all or substantially all of its property, files a petition
                                                                          under any bankruptcy or insolvency act or has any such
                                                                          petition filed against it which is not discharged within
                                                                          sixty (60) days of the filing thereof, then the other
                                                                          Party may terminate this Agreement effective immediately
                                                                          upon written notice to such Party.

 

		13.3	           Other
                                                                    Remedies for Rhizen Breach. In addition to the
                                                                    termination remedy described in Sections 13.2(c), TGTX shall
                                                                    have certain other remedies for the material breaches of this
                                                                    Agreement (including a Rhizen failure to comply with Section
                                                                    13.5) by Rhizen (which in all events shall be (i) in addition
                                                                    to, and not in lieu of, any other remedies available to TGTX
                                                                    under this Agreement or applicable law, and (ii) subject to
                                                                    the notice and cure provisions of Section 13.2(c)), specified
                                                                    as follows:.

 

		(a)	Continuing
                                                                          Rights of TGTX.
                                                                           If TGTX otherwise has the right to terminate
                                                                          the entire Agreement pursuant to Section 13.2(c)(ii) due
                                                                          to a material breach by Rhizen, TGTX shall have, in
                                                                          addition to its other remedies, the right to elect in
                                                                          writing to continue the Agreement pursuant to Section 13.2(c)(iii) to
                                                                          retain: (i) its rights and obligations to the Backup
                                                                          Compounds pursuant to the terms of Section 3.7,
                                                                          and (ii) all other rights and obligations granted under
                                                                          this Agreement to TGTX, including, but not limited to,
                                                                          all Patent rights and licenses.  If TGTX exercises
                                                                          such right, then the Agreement shall remain in effect
                                                                          with respect to the Backup Compound and all other rights
                                                                          and obligations of the Parties shall remain in full
                                                                          force and effect under the Agreement.  If TGTX
                                                                          does not exercise such right, then the Agreement shall
                                                                          be deemed terminated.

 

		13.4	           Rhizen
                                                                         Termination for TGTX Failure to File IND/CTA: Notwithstanding
                                                                         Section 13.2(b) above if the IND/CTA Filing Conditions
                                                                         are met and TGTX fails to file an IND or CTA in a Major
                                                                         Market on or before the applicable IND/CTA Filing Deadline
                                                                         (other than for reasons beyond the reasonable control
                                                                         of TGTX, such as the requirements of the applicable Regulatory
                                                                         Authority), Rhizen may terminate this Agreement on sixty(60)
                                                                         days’ written notice to TGTX unless TGTX makes
                                                                         such filing, or is determined by the JSC to be actively
                                                                         in the process of making such filing before the end of
                                                                         sixty (60) days’ written notice to TGTX.

 

		13.5	           Termination
                                                                         for Diligence Failure: Notwithstanding Section 13.2(b)
                                                                         above, if a party does not correct a failure to use Diligent
                                                                         Efforts within the applicable period specified in, or
                                                                         determined in accordance with this Agreement (a “Diligence
                                                                         Failure”), the non-breaching party shall
                                                                         have the right to terminate this Agreement on sixty (60)
                                                                         days’ written notice to the breaching party unless
                                                                         the breaching party cures such Diligence Failure before
                                                                         the end of such sixty (60) day period, or is determined
                                                                         by the JSC to be actively in the process of curing such
                                                                         Diligence Failure before the end of such sixty (60) day
                                                                         period.

 

    	 

    	 

    

 

		13.6	                Effect
                                                                         of Termination of the Agreement. Upon termination
                                                                         by Rhizen of the Agreement under Section 13.2(c), Section
                                                                         13.4 or Section 13.5, or upon termination by TGTX under
                                                                         Section 13.2(a) and 13.2(b), the following shall apply
                                                                         (in addition to any other rights and obligations under
                                                                         Section 13.7 or 13.8 or otherwise under this Agreement
                                                                         with respect to such termination) with respect to the
                                                                         affected territory or territories:

 

		a.	Intellectual
                                                                Property. Rhizen shall have the right, exercisable upon written
                                                                notice by Rhizen to TGTX given within sixty (60) days after the
                                                                effective date of such termination, to obtain, and effective upon
                                                                such notice, TGTX shall, and it hereby does, grant to Rhizen,
                                                                a perpetual, exclusive, worldwide, royalty-bearing license, with
                                                                the right to sublicense, under TGTX Intellectual Property Rights
                                                                (which, for purposes of this Section 13.6 shall not include the
                                                                Joint Patents or the Joint Know-How) solely to develop, make,
                                                                have made, use, sell, offer for sale, have sold and import the
                                                                Compound and Products in the Field of Use, subject to the terms
                                                                and conditions set forth below in subparagraph (c). TGTX shall
                                                                provide to Rhizen when enforcing any such rights under this Section
                                                                13.6(a) reasonable assistance in such enforcement, at Rhizen’s
                                                                request and cost, including joining such action as a party plaintiff
                                                                if required by applicable Law to pursue such action. In consideration
                                                                for such exclusive license, Rhizen shall pay to TGTX a royalty
                                                                based on the fair market value of such license.  The royalty
                                                                will be negotiated in good faith by the Parties within fifteen
                                                                (15) days following the effective date of the termination. If
                                                                the Parties cannot agree on the terms of the royalty, the parties
                                                                will select a disinterested Third Party to determine the fair
                                                                market value of the license (the “Appraiser”). 
                                                                Once the Appraiser is selected, the Appraiser shall be instructed
                                                                to furnish a written appraisal within sixty (60) days of it selection.
                                                                TGTX shall bear the Appraiser’s reasonable costs and expenses. 
                                                                The fair market value royalty will be paid out of Rhizen’s
                                                                gross profits following the first commercial sale of the Product,
                                                                and which gross profits will be based on all amounts paid to Rhizen
                                                                from its sublicensing or from sales directly or indirectly in
                                                                the particular country or Territory. The term of such royalty
                                                                will expire on the expiration of the last to expire issued Valid
                                                                Claim within the TGTX Patents covering the Product in the particular
                                                                country or Territory.

 

TGTX
shall, and it hereby does, upon such Termination grant to Rhizen, (i) a perpetual, exclusive, worldwide, royalty-free license,
with the right to sublicense, under the Joint Patents; and (ii) a perpetual, non-exclusive, royalty-free license to the Joint
Know-How, in each case solely to develop, make, have made, use, sell, offer for sale, have sold and import the Compound and Products
in the Field of Use. TGTX shall provide to Rhizen when enforcing any such rights under this Section 13.6(a) reasonable assistance
in such enforcement, at Rhizen’s request and cost, including joining such action as a party plaintiff if required by applicable
Law to pursue such action.

 

		b.	Regulatory
                                                                                                     Materials. TGTX shall
                                                                                                     transfer and assign to Rhizen
                                                                                                     all Regulatory Materials
                                                                                                     and Regulatory Approvals
                                                                                                     for Product for the terminated
                                                                                                     country(ies) of the Territory
                                                                                                     , and shall grant Rhizen
                                                                                                     a right of reference to all
                                                                                                     Regulatory Materials filed
                                                                                                     by TGTX in the Territory
                                                                                                     solely for the purpose of
                                                                                                     Rhizen obtaining Regulatory
                                                                                                     Approval for the Product
                                                                                                     in such terminated country(ies).
                                                                                                     For avoidance of doubt ,
                                                                                                     Rhizen shall have right to
                                                                                                     transfer and assign the rights
                                                                                                     to any of its licensing partner
                                                                                                     for the terminated country(ies)
                                                                                                     of the Territory.

 

    	 

    	 

    

 

		c.	Transition
                                                                                                     Assistance. TGTX shall,
                                                                                                     for a reasonable period of
                                                                                                     time, provide such assistance,
                                                                                                     at no cost to Rhizen, to
                                                                                                     transfer or transition to
                                                                                                     Rhizen all other technology
                                                                                                     or know-how, including Information
                                                                                                     generated from the Clinical
                                                                                                     Trials or other Development
                                                                                                     activities, or then-existing
                                                                                                     commercial arrangements,
                                                                                                     that is, or are, reasonably
                                                                                                     necessary or useful for Rhizen
                                                                                                     to commence or continue Developing,
                                                                                                     conducting Finished Manufacturing
                                                                                                     of or Commercializing the
                                                                                                     Product in or for the terminated
                                                                                                     country(ies) of the Territory,
                                                                                                     to the extent TGTX is then
                                                                                                     performing or having performed
                                                                                                     such activities. TGTX shall
                                                                                                     take such other commercially
                                                                                                     reasonable actions and shall
                                                                                                     execute such other instruments,
                                                                                                     assignments and documents
                                                                                                     as may be necessary to effect
                                                                                                     the transition of the Development
                                                                                                     and Commercialization of
                                                                                                     the Product to Rhizen, including
                                                                                                     without limitation assignments
                                                                                                     of any contracts, including
                                                                                                     subcontracting agreements,
                                                                                                     related to the Development
                                                                                                     and Commercialization of
                                                                                                     the Product, unless such
                                                                                                     assignment is prohibited
                                                                                                     by a contract and the applicable
                                                                                                     consent cannot be reasonably
                                                                                                     procured at reasonable cost. 
                                                                                                     TGTX will use commercially
                                                                                                     reasonable efforts to obtain
                                                                                                     the consent of any third-party
                                                                                                     to any contract or agreement
                                                                                                     related to the Development
                                                                                                     or Commercialization of the
                                                                                                     Product, which consent is
                                                                                                     required for the assignment
                                                                                                     of any such contract or agreement
                                                                                                     from TGTX to Rhizen, provided,
                                                                                                     however, that any cash payment
                                                                                                     required by TGTX in order
                                                                                                     to procure any such consent
                                                                                                     shall be deemed not commercially
                                                                                                     reasonable.  Prior to
                                                                                                     receipt of such consent,
                                                                                                     TGTX shall make available
                                                                                                     to Rhizen all rights and
                                                                                                     other benefits of such contracts,
                                                                                                     on a subcontract or sublease
                                                                                                     basis or in some other appropriate
                                                                                                     manner to the fullest extent
                                                                                                     reasonably practicable, and
                                                                                                     Rhizen shall be considered
                                                                                                     an independent subcontractor
                                                                                                     or sublessee of TGTX, with
                                                                                                     respect to all matters concerning
                                                                                                     such contracts.

 

		d.	Remaining
                                                                                                     Inventories. Rhizen shall
                                                                                                     have the right to purchase
                                                                                                     from TGTX all of the inventory
                                                                                                     of Finished Product held
                                                                                                     by TGTX for such terminated
                                                                                                     country(ies) as of the effective
                                                                                                     date of termination of this
                                                                                                     Agreement at a price equal
                                                                                                     to TGTX’s cost to acquire
                                                                                                     or manufacture such inventory
                                                                                                     for such terminated country(ies).
                                                                                                     Rhizen shall notify TGTX
                                                                                                     within thirty (30) days after
                                                                                                     the date of termination of
                                                                                                     the Agreement whether Rhizen
                                                                                                     elects to exercise such right.
                                                                                                     If Rhizen does not exercise
                                                                                                     such right, then TGTX shall
                                                                                                     have the right to sell in
                                                                                                     such terminated country(ies)
                                                                                                     of the Territory any such
                                                                                                     remaining inventory over
                                                                                                     a period of no greater than
                                                                                                     six (6) months after the
                                                                                                     effective date of termination
                                                                                                     of this Agreement provided
                                                                                                     TGTX makes appropriate payment
                                                                                                     to Rhizen under similar terms
                                                                                                     of the prevailing P/L arrangements.

 

		f.	Termination
                                                              of Licenses. For clarity, upon any termination of this Agreement
                                                              under Section 13.2, the licenses granted to TGTX under this Agreement
                                                              for such terminated country(ies) shall terminate.

 

		g.	Clinical
                                                              Trials. In the event that any clinical trial of the Product
                                                              being conducted by or on behalf of TGTX is on-going as of the effective
                                                              date of any termination of this Agreement, then upon written request
                                                              of Rhizen, TGTX shall cooperate to transfer responsibility for such
                                                              clinical trial to Rhizen or its designee as expeditiously as possible
                                                              in an orderly manner and in compliance with Law and common standards
                                                              of industry practice, and cooperate to facilitate the transfer to
                                                              Rhizen of, as applicable, regulatory filings, CRO contracts, site
                                                              agreements and the like as expeditiously as possible, provided that
                                                              the costs of conducting such clinical trial up to the effective
                                                              date of termination of this Agreement shall be considered Development
                                                              Costs. In the event that Rhizen does not request to transfer responsibility
                                                              for the conduct of such on-going clinical trial, then TGTX shall
                                                              wind down such on-going clinical trial as expeditiously as possible,
                                                              consistent with TGTX’s ethical and regulatory obligations
                                                              and in compliance with Law and standards of industry practice, provided
                                                              that all costs of TGTX in winding-down such clinical trial shall
                                                              be considered Development Costs; provided, however, if the Agreement
                                                              was terminated by Rhizen pursuant to Section 13.2(c)(i), Section
                                                              13.4, or Section 13.5, or upon termination by TGTX under Section
                                                              13.2(a), TGTX shall be responsible for such costs. However, if the
                                                              Agreement was terminated by TGTX pursuant to Section 13.2(c)(ii)
                                                              or Section 13.5, Rhizen shall be responsible for such costs.

 

    	 

    	 

    

 

		13.7	           Other
                                                                    Remedies. Other than as explicitly stated otherwise in
                                                                    this Article 13, termination or expiration of this Agreement
                                                                    for any reason shall not release any Party from any liability
                                                                    or obligation that already has accrued prior to such expiration
                                                                    or termination, nor affect the survival of any provision hereof
                                                                    to the extent it is expressly stated to survive such termination.
                                                                    Termination or expiration of this Agreement for any reason
                                                                    shall not constitute a waiver or release of, or otherwise
                                                                    be deemed to prejudice or adversely affect, any rights, remedies
                                                                    or claims, whether for damages or otherwise, that a Party
                                                                    may have hereunder or that may arise out of or in connection
                                                                    with such termination or expiration.

 

		13.8	           Rights
                                                                    in Bankruptcy. All rights and licenses granted under or
                                                                    pursuant to this Agreement by Rhizen are, and shall otherwise
                                                                    be deemed to be, for purposes of Section 365(n) of the U.S.
                                                                    Bankruptcy Code, licenses of right to “intellectual
                                                                    property” as defined under Section 101 of the U.S. Bankruptcy
                                                                    Code. The Parties agree that TGTX, as licensee of such rights
                                                                    under this Agreement, shall retain and may fully exercise
                                                                    all of its rights and elections under the U.S. Bankruptcy
                                                                    Code and any foreign equivalent thereto in any country having
                                                                    jurisdiction over a Party or its assets. The Parties further
                                                                    agree that, in the event of the commencement of a bankruptcy
                                                                    proceeding by or against Rhizen, TGTX shall be entitled to
                                                                    a complete duplicate of (or complete access to, as appropriate)
                                                                    any such intellectual property and all embodiments of such
                                                                    intellectual property, which, if not already in TGTX’s
                                                                    possession, shall be promptly delivered to it (a) upon any
                                                                    such commencement of a bankruptcy proceeding upon TGTX’s
                                                                    written request therefor, unless Rhizen elects to continue
                                                                    to perform all of its obligations under this Agreement or
                                                                    (b) if not delivered under clause (a), following the rejection
                                                                    of this Agreement by or on behalf of Rhizen upon written request
                                                                    therefor by TGTX.-

 

		13.9	           Survival.
                                                                    The following provisions shall survive any expiration or termination
                                                                    of this Agreement for the period of time specified therein
                                                                    (or, if no such period is specified, indefinitely): Articles
                                                                    1, 10, 11,
                                                                    12, 14, and 15, and Sections 4.7, 9.1, 9.8 (to the extent
                                                                    that TGTX uses a Product Trademark after such expiration or
                                                                    termination), 13.4, 13.3, 13.6, 13.7, and
                                                                    13.8.

 

    	 

    	 

    

  

ARTICLE
14

 

  

DISPUTE
RESOLUTION

 

  

		14.1	         English Language; Governing
Law. This Agreement was prepared in the English language, which language shall govern the interpretation of, and any dispute
regarding, the terms of this Agreement. This Agreement and all disputes arising out of or related to this Agreement or any breach
hereof shall be governed by and construed under the Laws of the State of New York without giving effect to any choice of law principles
that would require the application of the Laws of a different state.

 

		14.2	        Disputes.

 

		(a)	The
                                                                       Parties recognize that disputes as to certain matters may
                                                                       from time to time arise during the Term which relate to
                                                                       either Party’s rights or obligations hereunder. It
                                                                       is the objective of the Parties to establish procedures
                                                                       to facilitate the resolution of disputes arising under
                                                                       this Agreement in an expedient manner by mutual cooperation
                                                                       and without resort to litigation. To accomplish this objective,
                                                                       the Parties agree to follow the procedures set forth in
                                                                       this Section 14.2 to resolve any controversy or claim arising
                                                                       out of, relating to or in connection with any provision
                                                                       of this Agreement, if and when a dispute arises under this
                                                                       Agreement. With respect to all disputes arising between
                                                                       the Parties (other than those matters delegated to the
                                                                       JSC, which shall be governed in accordance with Section
                                                                       2.3(c)), including, without limitation, any alleged failure
                                                                       to perform, or breach, of this Agreement, or any issue
                                                                       relating to the interpretation or application of this Agreement,
                                                                       if the Parties are unable to resolve such dispute within
                                                                       sixty (60) days after such dispute is first identified
                                                                       by either Party in writing to the other, the Parties shall
                                                                       refer such dispute to the senior executive officers for
                                                                       each Party for attempted resolution by good faith negotiations
                                                                       within thirty (30) days after such notice is received.
                                                                       If the senior executive officers designated by the Parties
                                                                       are not able to resolve such dispute within such thirty
                                                                       (30) day period, either Party may submit such dispute in
                                                                       accordance with Section 14.2(b).

 

		(b)	Arbitration.
                                                                       Any dispute arising out of or relating to this Agreement,
                                                                       including the breach, termination or validity thereof,
                                                                       which has not been resolved by the executives of the Parties
                                                                       as provided herein will be finally resolved by arbitration
                                                                       in accordance with the CPR Rules for Non-Administered Arbitration
                                                                       then currently in effect, by three arbitrators of whom
                                                                       each party will appoint one in accordance with the ‘screened’
                                                                       appointment procedure provided in Rule 5.4, provided, however,
                                                                       that if one party fails to participate in either the negotiation
                                                                       or mediation as agreed herein, the other party can commence
                                                                       arbitration prior to the expiration of the time periods
                                                                       set forth above. The arbitration will be governed by the
                                                                       Federal Arbitration Act, 9 U.S.C. §§1 et seq.,
                                                                       and judgment upon the award rendered by the arbitrator(s)
                                                                       may be entered by any court having jurisdiction thereof.
                                                                       The place of arbitration will be New York, NY. The award
                                                                       may be made a judgment by any court of competent jurisdiction
                                                                       pursuant to the New York Convention, 9 U.S.C. § 201
                                                                       et seq., and for this purpose the Party against whom the
                                                                       award is made will agree to the personal jurisdiction of
                                                                       the court in which recognition is sought and will not raise
                                                                       any argument of forum non conveniens.

 

		(c)	Notwithstanding
                                                                       anything to the contrary in this Article 14, either Party
                                                                       may seek injunctive relief in any court in any jurisdiction
                                                                       where appropriate.

 

    	 

    	 

    

  

ARTICLE
15

 

  

MISCELLANEOUS

 

  

		15.1	           Entire
                                                                    Agreement; Amendment. This Agreement, including the Exhibits
                                                                    hereto, sets forth the complete, final and exclusive agreement
                                                                    and all the covenants, promises, agreements, warranties, representations,
                                                                    conditions and understandings between the Parties hereto with
                                                                    respect to the subject matter hereof and supersedes, as of
                                                                    the Effective Date, all prior agreements and understandings
                                                                    between the Parties with respect to the subject matter hereof.
                                                                    There are no covenants, promises, agreements, warranties,
                                                                    representations, conditions or understandings, either oral
                                                                    or written, between the Parties other than as are set forth
                                                                    herein and therein. No subsequent alteration, amendment, change
                                                                    or addition to this Agreement shall be binding upon the Parties
                                                                    unless reduced to writing and signed by an authorized officer
                                                                    of each Party.

 

		15.2	           Force
                                                                    Majeure. Both Parties shall be excused from the performance
                                                                    of their obligations under this Agreement to the extent that
                                                                    such performance is prevented by force majeure and the nonperforming
                                                                    Party promptly provides notice of the prevention to the other
                                                                    Party. Such excuse shall be continued so long as the condition
                                                                    constituting force majeure continues and the nonperforming
                                                                    Party takes reasonable efforts to remove the condition. For
                                                                    purposes of this Agreement, force majeure shall include conditions
                                                                    beyond the control of the Parties, including without limitation,
                                                                    an act of God, war, civil commotion, terrorist act, labor
                                                                    strike or lock-out, epidemic, failure or default of public
                                                                    utilities or common carriers, destruction of production facilities
                                                                    or materials by fire, earthquake, storm or like catastrophe,
                                                                    and failure of plant or machinery (provided that such failure
                                                                    could not have been prevented by the exercise of skill, diligence,
                                                                    and prudence that would be reasonably and ordinarily expected
                                                                    from a skilled and experienced person engaged in the same
                                                                    type of undertaking under the same or similar circumstances).
                                                                    Notwithstanding the foregoing, a Party shall not be excused
                                                                    from making payments owed hereunder because of a force majeure
                                                                    affecting such Party, except in the case of a Financial Force
                                                                    Majeure. Nevertheless, any failure to make a payment as a
                                                                    result of a Financial Force Majeure will trigger a reduction
                                                                    in a Party’s P/L Share Percentage in accordance with
                                                                    Sections 3.4 and 8.2 hereof.

 

		15.3	           Notices.
                                                                    Any notice required or permitted to be given under this
                                                                    Agreement shall be in writing, shall specifically refer to
                                                                    this Agreement, and shall be addressed to the appropriate
                                                                    Party at the address specified below or such other address
                                                                    as may be specified by such Party in writing in accordance
                                                                    with this Section 15.3, and shall be deemed to have been given
                                                                    for all purposes (a) when received, if hand-delivered sent
                                                                    by a reputable overnight delivery service, or by facsimile
                                                                    (with electronic confirmation of receipt) or by e-mail, or
                                                                    (b) seven (7) days after mailing, if mailed by first class
                                                                    certified or registered mail, postage prepaid, return receipt
                                                                    requested.

 

	If to Rhizen:	 	Rhizen
        Pharmaceuticals, S.A.

        Fritz-Couveoriser
        40

        CH-2300
        La Chaux-de-Fonds

        Switzerland

        Attn:
        Swaroop Vakkalanka

 

    	 

    	 

    

 

	If to TGTX:	 	TG
        Therapeutics Inc.

        787
        Seventh Avenue 48th Floor

        New
        York, New York 10019

        Attn:
        Michael S. Weiss

 

		15.4	           No
                                                                    Strict Construction; Headings. This Agreement has been
                                                                    prepared jointly and shall not be strictly construed against
                                                                    either Party. Ambiguities, if any, in this Agreement shall
                                                                    not be construed against any Party, irrespective of which
                                                                    Party may be deemed to have authored the ambiguous provision.
                                                                    The headings of each Article and Section in this Agreement
                                                                    have been inserted for convenience of reference only and are
                                                                    not intended to limit or expand on the meaning of the language
                                                                    contained in the particular Article or Section.

 

		15.5	           Assignment.
                                                                    Neither Party may assign or transfer this Agreement or any
                                                                    rights or obligations hereunder without the prior written
                                                                    consent of the other, except that a Party may make such an
                                                                    assignment without the other Party’s consent to Affiliates
                                                                    or to a successor to substantially all of the business of
                                                                    such Party, whether in a merger, sale of stock, sale of assets
                                                                    or other transaction. Any permitted assignment shall be binding
                                                                    on the successors of the assigning Party. Any assignment or
                                                                    attempted assignment by either Party in violation of the terms
                                                                    of this Section 15.5 shall be null, void and of no legal effect.

 

		15.6	           Performance
                                                                    by Affiliates. Each Party may discharge any obligations
                                                                    and exercise any right hereunder through any of its Affiliates.
                                                                    Each Party hereby guarantees the performance by its Affiliates
                                                                    of such Party’s obligations under this Agreement, and
                                                                    shall cause its Affiliates to comply with the provisions of
                                                                    this Agreement in connection with such performance. Any breach
                                                                    by a Party’s Affiliate of any of such Party’s
                                                                    obligations under this Agreement shall be deemed a breach
                                                                    by such Party, and the other Party may proceed directly against
                                                                    such Party without any obligation to first proceed against
                                                                    such Party’s Affiliate.

 

		15.7	           Further
                                                                    Actions.  Each Party agrees to execute, acknowledge
                                                                    and deliver such further instruments, and to do all such other
                                                                    acts, as may be necessary or appropriate in order to carry
                                                                    out the purposes and intent of this Agreement.

 

		15.8	           Severability.
                                                                    If any one or more of the provisions of this Agreement is
                                                                    held to be invalid or unenforceable by any court of competent
                                                                    jurisdiction from which no appeal can be or is taken, the
                                                                    provision shall be considered severed from this Agreement
                                                                    and shall not serve to invalidate any remaining provisions
                                                                    hereof. The Parties shall make a good faith effort to replace
                                                                    any invalid or unenforceable provision with a valid and enforceable
                                                                    one such that the objectives contemplated by the Parties when
                                                                    entering this Agreement may be realized.

 

		15.9	           No
                                                                    Waiver. Any delay in enforcing a Party’s rights
                                                                    under this Agreement or any waiver as to a particular default
                                                                    or other matter shall not constitute a waiver of such Party’s
                                                                    rights to the future enforcement of its rights under this
                                                                    Agreement, except with respect to an express written and signed
                                                                    waiver relating to a particular matter for a particular period
                                                                    of time.

 

		15.10	         Independent
                                                                     Contractors. Each Party shall act solely as an independent
                                                                     contractor, and nothing in this Agreement shall be construed
                                                                     to give either Party the power or authority to act for, bind,
                                                                     or commit the other Party in any way. Nothing herein shall
                                                                     be construed to create the relationship of partners, principal
                                                                     and agent, or joint-venture partners between the Parties.

 

    	 

    	 

    

 

		15.11	         Counterparts.
                                                                     This Agreement may be executed in one (1) or more counterparts,
                                                                     each of which shall be deemed an original, but all of which
                                                                     together shall constitute one and the same instrument. This
                                                                     Agreement shall be binding upon the delivery by each Party
                                                                     of an executed signature page to the other Party by facsimile
                                                                     transmission. If signature pages are so delivered by facsimile
                                                                     transmission, each Party shall also immediately deliver an
                                                                     executed original counterpart of this Agreement to the other
                                                                     Party by courier delivery service.

 

		15.12	         Construction.
                                                                     Except where the context otherwise requires, wherever
                                                                     used, the singular shall include the plural, the plural the
                                                                     singular, the use of any gender shall be applicable to all
                                                                     genders, and the word “or” is used in the inclusive
                                                                     sense (and/or). The captions of this Agreement are for convenience
                                                                     of reference only and in no way define, describe, extend
                                                                     or limit the scope or intent of this Agreement or the intent
                                                                     of any provision contained in this Agreement. The term “including”
                                                                     as used herein means including, without limiting the generality
                                                                     of any description preceding such term. References to “Article,”
                                                                     “Section” or “Exhibit” are references
                                                                     to the numbered sections of this Agreement and the exhibits
                                                                     attached to this Agreement, unless expressly stated otherwise.

 

{Signature
page follows.}

 

    	 

    	 

    

 

IN WITNESS
WHEREOF, the Parties have executed this Agreement in duplicate originals by their duly authorized officers as of the Effective
Date.

 

	TG THERAPEUTICS, INC.	 	RHIZEN PHARMACEUTICALS, LTD
	 	 	 
	By:	/s/ Michael S. Weiss	 	By:	/s/ Swaroop Vakkalanka
	 	 	 	 	 
	Name:	Michael S. Weiss	 	Name:	Swaroop Vakkalanka
	 	 	 	 	 
	Title:	Chairman and CEO	 	Title:	PresidentExhibit 10.1

 

 

 

	
         

 

 

PURCHASE AGREEMENT

         

        BETWEEN

         

        BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership

         

        AS SELLER

         

 

	
        AND

         

 

        CARTER VALIDUS PROPERTIES, LLC,

        a Delaware limited liability company

         

        AS PURCHASER

         

 

        covering and describing

         

 

	
        1221 Coit Road

         

 

        in

         

        Collin County, Texas

 

 

 

 

    	 

    	 

    
 

 

PURCHASE AGREEMENT

 

THIS PURCHASE AGREEMENT
(“Agreement”) is entered into as of July ___, 2012, between BEHRINGER HARVARD 1221 COIT LP, a Texas limited
partnership (“Seller”), and CARTER VALIDUS PROPERTIES, LLC, a Delaware limited liability company (“Purchaser”).

 

ARTICLE I

PURCHASE AND SALE

 

1.1                
Agreement of Purchase and Sale. In consideration of their covenants set forth in this Agreement, Seller agrees to
sell to Purchaser, and Purchaser agrees to purchase from Seller, for the Purchase Price (as hereinafter defined) and on the terms
and conditions set forth herein, the following:

 

(a)               
All of the land situated in the City of Plano, the County of Collin and the State of Texas, described on Exhibit A
attached hereto and made a part hereof, together with all right, title and interest of Seller in and to all benefits, privileges,
easements, tenements, hereditaments and appurtenances thereon or appertaining thereto, and together with all right, title and interest
of Seller in and to adjacent streets, alleys and rights-of-way (the “Real Estate”).

 

(b)              
All structures, buildings, improvements and fixtures, including without limitation all equipment and appliances, used in
connection with the operation or occupancy thereof, such as heating and air-conditioning systems and facilities used to provide
any utility services, parking services, refrigeration, ventilation, trash disposal or other fixtures owned by Seller and located
on the Real Estate (“Improvements”).

 

(c)               
All personal property owned by Seller located on or in the Real Estate or Improvements and used in connection with the operation
and maintenance of the Real Estate or Improvements (“Personal Property”).

 

(d)              
Seller’s interest in all leases and other agreements to occupy the Real Estate and/or the Improvements, or any portion
thereof, as amended from time to time, in effect on the date of Closing, as hereinafter defined (all such leases and agreements
being sometimes collectively referred to herein as “Leases”).

 

(e)               
All intangible property owned by Seller and used in connection with the Real Estate, Improvements and Personal Property,
including specifically, without limitation, all right, title and interest of Seller in and to the following: (i) all trademarks
and trade names used in connection with any part of the Real Estate and Improvements (specifically excluding, however, the name
“Behringer Harvard,” any derivative thereof or any name which includes the words “Behringer Harvard” or
any derivative thereof), (ii) all plans and specifications, if any, in the possession of Seller which were prepared in connection
with the construction of any of the Improvements, (iii) all licenses and permits now in effect with respect to the Real Estate,
Improvements and Personal Property, and (iv) all written service and maintenance contracts (“Service Contracts”), and
warranties in effect at Closing (as hereinafter defined) and relating to the Property (as hereinafter defined), but only to the
extent that such Service Contracts and warranties are assignable by Seller without any necessary third party consent, or to the
extent that all necessary third party consents to such assignments have been obtained (provided that Seller shall not be obligated
to obtain such third party consents) including without limitation all equipment leases and all rights of Seller thereunder relating
to equipment or property located upon the Property, which will survive Closing and which Purchaser elects to assume pursuant to
Section 5.4(c) herein (“Intangible Property”).

 

    	PURCHASE AGREEMENT	Page 1	 

    	 

    
 

1.2                
Property Defined. The Real Estate, Improvements, Personal Property, Leases and Intangible Property are sometimes
collectively referred to herein as the “Property.”

 

1.3                
Permitted Exceptions. The Property shall be conveyed subject to the matters which are, or are deemed to be, Permitted
Exceptions pursuant to Article II hereof (herein referred to collectively as the “Permitted Exceptions”).

 

1.4                
Purchase Price. The purchase price for the Property shall be TWENTY MILLION AND NO/100 DOLLARS ($20,000,000.00) (“Purchase
Price”).

 

1.5                
Payment of Purchase Price. The Purchase Price, as increased or decreased by prorations and adjustments as herein
provided, shall be payable in full at Closing in cash by wire transfer of immediately available federal funds to a bank account
designated by Seller in writing to Purchaser prior to the Closing.

 

1.6                
Earnest Money. Simultaneously with the execution and delivery of this Agreement, Purchaser is depositing with Chicago
Title Insurance Company (the “Title Company”), having its office at 2001 Bryan Street, Suite 1700, Dallas, Texas 75201,
Attention: Konrad Kaltenbach (the “Escrow Agent”), the sum of Five Hundred Thousand and No/100 Dollars ($500,000.00)
(the “Earnest Money”) in good funds, either by certified bank or cashier’s check or by federal wire transfer.
The Escrow Agent shall hold the Earnest Money in an interest-bearing account in accordance with the terms and conditions of this
Agreement. All interest accruing on such sum shall become a part of the Earnest Money and shall be distributed as Earnest Money
in accordance with the terms of this Agreement. If Purchaser does not exercise the right to terminate
this Agreement in accordance with Section 2.4 or Section 3.3 hereof, upon the expiration of the Inspection Period (as
such term is defined in Section 3.2 hereof) the Earnest Money shall be released to Seller and no interest shall accrue on
the Earnest Money so released to Seller. The Earnest Money shall be applied to the Purchase Price at Closing unless otherwise set
forth herein. After the expiration of the Inspection Period, the Earnest Money shall become non-refundable to Purchaser unless
otherwise expressly set forth in this Agreement.

 

1.7                
Independent Contract Consideration. Upon the Effective Date, Purchaser shall deliver to Seller a check in the amount
of Fifty Dollars ($50) (the “Independent Contract Consideration”), which amount Seller and Purchaser hereby acknowledge
and agree has been bargained for and agreed to as consideration for Seller’s execution and delivery of this Agreement. The
Independent Contract Consideration is in addition to and independent of any other consideration or payment provided for in this
Agreement, and is nonrefundable in all events.

 

1.8                
Contingency. Notwithstanding anything herein to the contrary, Seller has informed Purchaser and Purchaser has acknowledged
that the sale of the Property by Seller is contingent upon Seller obtaining board approval for the same. If the sale and the terms
set forth in this Agreement are not approved by Seller’s board by August 6, 2012, then Seller shall provide Purchaser with
written notice of such lack of approval before 6:00 p.m. Dallas, Texas time on August 7, 2012 and this Agreement shall terminate,
the Earnest Money shall be returned to Purchaser and neither party shall have any further obligations hereunder except those obligations
that expressly survive termination.

 

    	PURCHASE AGREEMENT	Page 2	 

    	 

    
 

ARTICLE II

TITLE AND SURVEY

 

2.1                
Title Commitment. As soon after the Effective Date as reasonably practicable through the use of good faith efforts
by Seller, Seller shall cause the Title Company to deliver to Purchaser, at Seller’s expense, (a) a title commitment
(“Commitment”) for an owner’s policy of title insurance issued by the Title Company in the amount of the Purchase
Price, and (b) copies of all recorded instruments referenced in Schedule B and Schedule C of the Commitment.

 

2.2                
Survey. As soon after the Effective Date as reasonably practicable through the use of good faith efforts by Seller,
Seller shall cause to be delivered to Purchaser, at Seller’s expense, the existing survey (the “Existing Survey”)
of the Real Estate and Improvements. Purchaser shall, at its sole cost, be responsible for obtaining an updated survey (the “Updated
Survey,” and together with the Existing Survey, the “Survey”). Purchaser shall cause a copy of the Updated Survey
to be delivered to Seller and the Title Company promptly following completion.

 

2.3                
Review of Commitment and Survey. Purchaser shall have five (5) business days (the “Title Review Period”)
after the receipt of the last of the Commitment, copies of all instruments referred to in Schedule B and Schedule C thereof,
and the Survey to notify Seller in writing of such objections as Purchaser may have to anything contained in the Commitment or
the Survey; provided, however, that Purchaser shall not have the right to object to any Permitted Exceptions described in Section 2.5
below. If Purchaser fails to object in writing to any item contained in the Commitment or the Survey during the Title Review Period,
Purchaser shall be deemed to have waived its right to object to such item, and such item shall thereafter be deemed a Permitted
Exception. In the event that Purchaser objects to any item contained in the Commitment or the Survey within the Title Review Period
(such items being herein referred to as “Title Defects”), Seller shall notify Purchaser in writing within five (5)
business days following the date of Purchaser’s notice of such Title Defects (the “Cure Period”) that either
(a) the Title Defects have been, or will be at or prior to Closing, removed from the Commitment or the Survey, as the case
may be, or (b) Seller has failed or refuses to arrange to have the Title Defects removed. Purchaser’s failure to obtain
an Updated Survey in a timely manner shall not extend the period for review of the Commitment or Survey beyond the Inspection Period,
provided that Purchaser may terminate this Agreement prior to the expiration of the Inspection Period in accordance with the provisions
of Section 3.3.

 

2.4                
Failure to Cure Title Defects. If upon the expiration of the Cure Period Seller has not notified Purchaser that Seller
has arranged to have the Title Defects removed, then Purchaser may elect (which election must be made in writing within five (5)
days following expiration of the Cure Period) either: (a) to terminate this Agreement, in which event the Earnest Money shall
be returned to Purchaser as Purchaser’s sole remedy hereunder; or (b) to take title as it then is. If Purchaser does
not, within five (5) days after the expiration of the Cure Period, send written notice to Seller of its election to terminate this
Agreement pursuant to clause (a) of the preceding sentence, then: (x) Purchaser shall be deemed to have elected to take
title as it then is without any reduction in the Purchase Price; (y) all Title Defects not removed from the Commitment or
the Survey will thenceforth be deemed Permitted Exceptions; and (z) this Agreement shall remain in full force and effect.
Anything to the contrary in this Agreement notwithstanding, Seller shall have no affirmative obligation hereunder to expend any
funds or incur any liabilities in order to cause any matters shown in the Commitment or the Survey to be removed, cured or insured
over, except that Seller shall pay or discharge any lien or encumbrance arising after the date hereof and voluntarily created or
assumed by Seller and not created by or resulting from the acts of Purchaser or other parties not related to Seller. If the Commitment
(or any subsequent revision thereof) discloses exceptions other than the Permitted Exceptions, and other than those which Seller
has agreed to insure against, pay or discharge, then unless Purchaser agrees to accept title as it then is without reduction of
the Purchase Price, Purchaser may, at its option, terminate this Agreement, in which event the Earnest Money shall be returned
to Purchaser as Purchaser’s sole remedy under this Agreement.

 

    	PURCHASE AGREEMENT	Page 3	 

    	 

    
 

2.5                
Other Permitted Exceptions. In addition to those matters shown in the Commitment and the Survey which become Permitted
Exceptions pursuant to Section 2.4 above, the following shall also be deemed to be Permitted Exceptions: (a) the Leases;
(b) taxes and standby fees for the year in which Closing occurs; (c) liens and encumbrances arising after the date hereof
to which Purchaser consents in writing; and (d) any liens or encumbrances of a definite or ascertainable amount, provided
that Seller causes such liens or encumbrances to be insured around such that same do not appear as an exception in the owner’s
title insurance policy issued to Purchaser pursuant to the Commitment.

 

2.6                
Owner Title Policy. Subject to the provisions of Sections 2.4 and 2.5, on the Closing Date (or as soon thereafter
as reasonably practicable) Seller shall cause the Title Company to issue a T-1 owner’s title insurance policy at Seller’s
cost insuring fee simple title in Purchaser as of the Closing Date, in accordance with the Commitment, subject only to the Permitted
Exceptions; provided, however, that Seller shall have no obligation to pay anything other than the basic premium for such title
insurance policy. If Purchaser desires to obtain a modification of the “survey exception” or any other modification
or endorsement, same shall be at the sole expense of Purchaser.

 

2.7                
Expiration of Inspection Period. It is the intent of the parties that the right granted to Purchaser to terminate
this Agreement shall expire upon the expiration of the Inspection Period, notwithstanding that the Title Review Period, the Cure
Period or any election period may extend beyond the expiration of the Inspection Period. Accordingly, notwithstanding anything
contained herein to the contrary, if Purchaser has not terminated this Agreement pursuant to Section 2.4(a) prior to the expiration
of the Inspection Period, then Purchaser shall no longer have any right to terminate this Agreement under Section 2.4(a),
and in such event Purchaser shall be bound to accept title to the Property under the conditions specified in Sections 2.4(x),
2.4(y) and 2.4(z) above.

 

2.8                
New Title Defects. In the event that after the delivery of the Existing Survey and after the expiration of the Title
Review Period, or, after the expiration of the Inspection Period and prior to Closing, a revision of the Title Commitment or the
Updated Survey reveals an adverse matter objectionable to Purchaser that was not disclosed to Purchaser prior to the expiration
of the Inspection Period and is not a Permitted Exception (a “New Title Defect”), Purchaser shall have five (5) days
after such matter is disclosed to Purchaser to send written notice to Seller of such New Title Defect (it being agreed that if
Purchaser fails to object to the New Title Defect within such five-day period, then such New Title Defect shall thereafter be deemed
a Permitted Exception). Seller shall notify Purchaser in writing within five (5) days following the date of Purchaser’s notice
of such New Title Defect (the “New Title Defect Cure Period”) that either (a) the New Title Defect has been, or
will be at or prior to Closing, removed from the Commitment or the Survey, as the case may be, or (b) Seller has failed to
arrange to have the New Title Defect removed. If, upon the expiration of the New Title Defect Cure Period, Seller has not notified
Purchaser that Seller has arranged to have the New Title Defect removed, then Purchaser may elect (which election must be made
in writing within five (5) days following expiration of the New Title Defect Cure Period) either: (i) to terminate this Agreement
as Purchaser’s sole remedy hereunder (in which event the Earnest Money shall be returned to Purchaser); or (ii) to take
title as it then is. If Purchaser does not, within five (5) days after the expiration of the New Title Defect Cure Period, send
written notice to Seller of its election to terminate this Agreement pursuant to clause (i) of the preceding sentence, then
(x) Purchaser shall be deemed to have elected to take title as it then is without any reduction in the Purchase Price; (y) the
New Title Defect will thenceforth be deemed a Permitted Exception; and (z) this Agreement shall remain in full force and effect.

 

    	PURCHASE AGREEMENT	Page 4	 

    	 

    
 

ARTICLE III

INSPECTION PERIOD

 

3.1                
Property Documents. As soon after the Effective Date as reasonably practicable through the use of good faith efforts
by Seller, Seller shall deliver through a secure website or make available to Purchaser at the Property, to the extent (and only
to the extent) that such items are available and in Seller’s actual possession, the documents described on Exhibit B
attached hereto and made a part hereof for all purposes (the “Property Documents”). Purchaser shall, if requested by
Seller, execute instruments acknowledging receipt of the Property Documents or any other document delivered or made available to
Purchaser in connection with the transaction contemplated hereby. During the Inspection Period (as hereinafter defined), Purchaser
may inspect the Property Documents during normal business hours and may photocopy same at Purchaser’s expense. Notwithstanding
the foregoing provisions, Seller shall not be obligated to deliver to Purchaser any report listed in Exhibit B if the
terms of such report restrict Seller from doing so. With respect to any report described in Exhibit B which Seller
delivers to Purchaser, Purchaser understands and agrees that (a) such report shall be delivered to Purchaser for general information
purposes only, (b) Purchaser shall not have any right to rely on any report received from Seller and will not rely thereon,
but rather will rely on inspections and reports performed by or on behalf of Purchaser, and (c) Seller shall have absolutely
no liability for any inaccuracy in or omission from any report which it delivers to Purchaser. Any failure of Seller to timely
deliver any of the Property Documents will not extend the Inspection Period beyond the period prescribed in Section 3.2 hereof,
and Purchaser’s sole and exclusive remedy on account of any such failure will be to terminate this Agreement prior to the
expiration of the Inspection Period in accordance with the provisions of Section 3.3. Seller makes no representation or warranty,
express or implied, as to the accuracy or completeness of the information contained in the Property Documents.

 

3.2                
Right of Inspection. During the period beginning on the day Seller grants Purchaser access to the Property Documents
as described in Section 3.1 above and ending at 5 p.m., Dallas, Texas time, on July 25, 2012 (the “Inspection Period”),
Purchaser and its representatives (including Purchaser’s architects, engineers and consultants) shall have the right to examine
the Property Documents and to make a physical inspection of the Property (including the right to conduct such soil, engineering,
environmental, hazardous or toxic material, noise pollution, seismic or other physical test, study or investigation as Purchaser
may desire, provided, however, that Purchaser must obtain Seller’s consent, which may be withheld in Seller’s sole
discretion, to any physically invasive testing or any testing involving sampling). In this regard, Purchaser and its authorized
agents and representatives shall be entitled to enter upon the Property at all reasonable times during the Inspection Period, upon
reasonable prior oral or written notice to Seller and sufficient to provide at least 24 hours advance written to any affected tenants
and while accompanied by a representative of Seller, subject to the rights of tenants of the Property. All activities by Purchaser
or its representatives during the Inspection Period shall be coordinated through Seller’s designated representative, Jeff
Carter, including, but not limited to, contact with tenants. Purchaser must be accompanied by Seller’s manager for the Property
or another designated representative of Seller or have received Seller’s written permission prior to entering upon the Property
in connection with Purchaser’s inspection; provided, however, Purchaser may not enter into any space leased by any tenant
without being accompanied by Seller’s manager for the Property or another designated representative of Seller. Seller agrees
to make its manager or other representative reasonably available during normal business hours. All inspections shall occur at reasonable
times agreed upon by Seller and Purchaser and shall be conducted so as not to unreasonably interfere with use of the Property by
Seller or tenants of the Property. In no event shall Purchaser or its representatives perform any off-site testing. Purchaser will
use its best efforts to minimize any disruption or interference caused by any such testing and will repair damage caused by such
testing. Before and during Purchaser inspections, Purchaser and each Purchaser representative conducting any Purchaser inspection
shall maintain workers’ compensation insurance in accordance with applicable law, and Purchaser, or the applicable Purchaser
representative conducting any Purchaser inspection, shall maintain (a) commercial general liability insurance with limits
of at least Three Million Dollars ($3,000,000) for bodily or personal injury or death, (b) property damage insurance in the
amount of at least One Million Dollars ($1,000,000), and (c) contractual liability insurance. Purchaser shall deliver to Seller
evidence of such workers’ compensation insurance and a certificate evidencing the commercial general liability, property
damage and contractual liability insurance before conducting any Purchaser inspection on the Property. Each such insurance policy
shall be written by a reputable insurance company having a rating of at least “A+: VII” by Best’s Rating Guide
(or a comparable rating by a successor rating service), and shall otherwise be subject to Seller’s prior approval.

 

    	PURCHASE AGREEMENT	Page 5	 

    	 

    
 

3.3                
Right of Termination Seller agrees that in the event Purchaser determines, in its sole discretion, that the Property
is not suitable for its purposes, then Purchaser shall have the right (“Purchaser’s Termination Right”) to terminate
this Agreement on or before the expiration date of the Inspection Period. Purchaser’s Termination Right shall be exercisable
only by sending written notice of termination (the “Notice of Termination”) to Seller prior to the expiration of the
Inspection Period. In the event that Purchaser timely exercises Purchaser’s Termination Right, this Agreement shall terminate
and the Earnest Money shall be returned to Purchaser. If Purchaser fails to send Seller a Notice of Termination prior to the expiration
of the Inspection Period, Purchaser shall be deemed to have approved the Property Documents and the Property in all respects and
Purchaser’s Termination Right shall automatically and irrevocably expire.

 

3.4                
Payment of Certain Expenses Upon Termination. Notwithstanding anything contained in this Agreement to the contrary,
in the event that Purchaser exercises Purchaser’s Termination Right, Purchaser shall be responsible for payment of any escrow
costs charged by the Title Company in connection with this Agreement. In addition, to the extent not already done, Purchaser will
promptly restore the Property to its original condition if damaged or changed due to the tests and inspections performed by Purchaser,
free of any mechanic’s or materialman’s liens or other encumbrances arising out of any of the inspections or tests,
and will provide Seller, at no cost to Seller, with a copy of the results of any tests and inspections made by Purchaser, excluding
any market and economic feasibility studies. The provisions of this Section 3.4 shall survive any termination of this Agreement.

 

3.5                
Indemnity and Release. Purchaser hereby indemnifies and agrees to defend and hold Seller and the Property harmless
of and from any and all losses, liabilities, costs, expenses (including, without limitation, reasonable attorneys’ fees and
costs of court), damages, liens, claims (including, without limitation, mechanics’ or materialmen’s liens or claims
of liens), actions and causes of action arising from or relating to Purchaser’s (or Purchaser’s agents, independent
contractors, servants, employees or representatives) entering upon the Property to test, study, investigate or inspect the same
or any part thereof, whether pursuant to Section 3.2 or otherwise, except to the extent arising solely from the negligence
of Seller. Purchaser further waives and releases any claims, demands, damages, actions, causes of action or other remedies
of any kind whatsoever against Seller for property damages or bodily and/or personal injuries to Purchaser, its agents, independent
contractors, servants, employees and/or representatives arising out of the entry or use in any manner of the Property by any of
the foregoing persons. The provisions of this Section 3.5 shall survive the Closing or any termination of this Agreement and
are not subject to any liquidated damage limitation on remedies, notwithstanding anything to the contrary in this Agreement.

 

    	PURCHASE AGREEMENT	Page 6	 

    	 

    
 

ARTICLE IV

CLOSING

 

4.1                
Time and Place. The consummation of the purchase and sale of the Property (“Closing”) shall take place
at the office of the Escrow Agent, or, at Seller’s option, at the office of Seller’s outside counsel, on a date (the
“Closing Date”) mutually agreed upon by the parties, but not later than August 15, 2012, provided however, that if
the replatting of the real estate as described in the Bowen Road Data Center Agreement (as hereinafter defined) is not accomplished
by such date, then the Closing shall occur on the fifth (5th) business day after such replatting is accomplished. Notwithstanding
the foregoing, in no event shall the Closing occur later than December 31, 2012 due to the replatting not being completed, in which
event this Agreement shall terminate without any further action or notice being required by either party and the Earnest Money
shall be returned to Purchaser. At Closing, Seller and Purchaser shall perform the obligations set forth in, respectively, Section 4.2
and Section 4.3 below, the performance of which obligations shall be concurrent conditions.

 

4.2                
Seller’s Obligations at Closing. At Closing, Seller shall:

 

(a)               
deliver to Purchaser a Special Warranty Deed (the “Deed”) in the form of Exhibit C attached hereto,
executed and acknowledged by Seller and in recordable form, it being agreed that the conveyance effected by the Deed shall be subject
to the Permitted Exceptions;

 

(b)              
deliver to Purchaser a Bill of Sale in the form of Exhibit D attached hereto (the “Bill of Sale”)
executed by Seller;

 

(c)               
join with Purchaser in the execution of an Assignment and Leases and Security Deposits in the form of Exhibit E
attached hereto;

 

(d)              
join with Purchaser in the execution of an Assignment and Assumption of Intangible Property and Other Rights in the form
of Exhibit F attached hereto;

 

(e)               
join with Purchaser in the execution of letters to tenants at the Real Estate in the form of Exhibit G attached hereto
and made a part hereof for all purposes;

 

(f)               
deliver to Purchaser an affidavit sworn by an officer of Seller in the form of Exhibit H attached hereto and
made a part hereof for all purposes (the “FIRPTA Affidavit”), or in such other form as may be prescribed by federal
regulations;

 

(g)               
deliver to the Title Company evidence of its capacity and authority for the closing of this transaction;

 

(h)              
deliver to Purchaser such tenant estoppel certificates (as described in Section 5.7 hereof) as are in Seller’s possession;
and

 

(i)                
deliver to Purchaser possession of the Property.

 

4.3                
Purchaser’s Obligations at Closing. At Closing, Purchaser shall:

 

(a)               
pay to Seller the Purchase Price in cash or immediately available funds, it being agreed that the Earnest Money shall be
delivered to Seller at Closing and applied towards payment of the Purchase Price.

 

    	PURCHASE AGREEMENT	Page 7	 

    	 

    
 

(b)              
join with Seller in execution of the instruments described in Sections 4.2(c) and 4.2(d);

 

(c)               
prepare and deliver to Seller and join with Seller in the execution of letters to tenants at the Real Estate in the form
of Exhibit G attached hereto;

 

(d)              
deliver to Seller an Agreement Regarding Disclaimers in the form of Exhibit H attached hereto executed by Purchaser
and counsel for Purchaser;

 

(e)               
deliver to Seller such evidence as Seller’s counsel and/or the Title Company may reasonably require as to the authority
of the person or persons executing documents on behalf of Purchaser; and

 

(f)               
deliver such other documents as may be reasonably required to close this transaction, duly executed where required.

 

4.4                
Prorations. The following adjustments to the Purchase Price paid hereunder shall be made between Seller and Purchaser
and shall be prorated (as applicable) on a per diem basis as if Purchaser owned the Property for the entire day on the Closing
Date:

 

(a)               
Subject to the provisions of Section 4.4(i) below, all real estate taxes and installments of special assessments due
and payable with respect to the calendar year of Closing shall be prorated between Seller and Purchaser at Closing. All other installments
of special assessments not yet due and payable shall be paid by Purchaser. If at the time of Closing the tax rate or the assessed
valuation for the current year has not yet been fixed, taxes shall be prorated based upon the tax rate and the assessed valuation
established for the previous tax year; provided, however, that Seller and Purchaser agree that to the extent the actual taxes for
the current year differ from the amount so apportioned at Closing, the parties hereto will make all necessary adjustments by appropriate
payments between themselves following the Closing as soon a possible following Closing, and this provision shall survive Closing.
Seller reserves the right to meet with governmental officials and to contest any reassessment concerning or affecting Seller's
obligations under this Section 4.4(a).

 

(b)              
Current rents, advance rentals (but only to the extent actually received by Seller) and other income from the Property shall
be prorated between Seller and Purchaser at Closing based upon such amounts actually collected by Seller as of the Closing Date.
Rent which is unpaid or delinquent as of the Closing Date shall not be prorated, but such unpaid or delinquent rent collected after
the Closing Date shall be delivered as follows: (i) if Seller collects any unpaid or delinquent rent after the Closing Date,
Seller shall deliver to Purchaser any such rent relating to the Closing Date and any period thereafter within fifteen (15) days
after the receipt thereof, and (ii) if Purchaser collects any unpaid or delinquent rent after the Closing Date, Purchaser
shall deliver to Seller any such rent relating to the period prior to the Closing Date within fifteen (15) days after the receipt
thereof. Seller and Purchaser agree that (A) all rent received by Seller after the Closing Date shall be applied first to
delinquent rentals, if any, in the order of their maturity, and then to current rentals, and (B) all rent received by Purchaser
after the Closing Date shall be applied first to current rentals and then to delinquent rentals, if any, in inverse order of maturity.
Purchaser will make a good faith effort after Closing to collect all rents (including without limitation the Pass-Through Expenses
and percentage rents described in Section 4.4(c) below) in the usual course of Purchaser’s operation of the Property,
but Purchaser will not be obligated to institute any lawsuit or incur any expense to collect delinquent rents. In the event that
there shall be any rents or other charges under any Leases which, although relating to a period prior to the Closing Date, do not
become due and payable until on or after the Closing Date, then any rents or charges of such type received by Purchaser or its
agents or Seller or its agents subsequent to the Closing Date shall, to the extent applicable to a period prior to the Closing
Date, be prorated between Seller and Purchaser and Seller's portion thereof shall be remitted to Seller by Purchaser within fifteen
(15) days after the receipt thereof. Notwithstanding the foregoing provisions, Seller shall not be required to prorate any amounts
collected by Seller after Closing from former tenants of the Property, it being understood and agreed that Seller may retain all
amounts that Seller recovers from such former tenants.

 

    	PURCHASE AGREEMENT	Page 8	 

    	 

    
 

(c)               
With respect to additional rent attributable to insurance, taxes, common area maintenance and other operating expenses which
are passed through to tenants under the Leases (the “Pass Through Expenses”) and as of the Closing Date are unbilled
or billed but not yet collected, Purchaser shall, upon collection of such Pass Through Expenses, remit to Seller an amount equal
to that portion of Pass Through Expenses which accrued prior to the Closing Date. With respect to Pass Through Expenses which have
not been billed to tenants as of the Closing Date, Purchaser shall bill each tenant for same in accordance with each such tenant’s
Lease. With respect to percentage rents based upon gross sales or other income generated by the business of a tenant located on
the Property during a specified period of time (the “Applicable Period”), Purchaser shall, upon collection of such
percentage rent, remit to Seller an amount equal to the product of the percentage rent so collected multiplied by a fraction, the
numerator of which is the number of days which have elapsed in the Applicable Period prior to the Closing Date and the denominator
of which is the total number of days in the Applicable Period.

 

(d)              
Utilities and other customarily prorated expenses payable by Seller, including but not limited to water, sewer, gas, electricity,
trash removal and fire protection service, and any Service Contracts to be transferred to and assumed by Purchaser, to the extent
paid for by Seller or required to be paid for by Seller for a period after Closing, will be prorated as of the Closing Date. Other
expenses relating to the Property up to the Closing Date and all periods prior thereto including those required by any Service
Contracts which are not to be transferred and assumed by Purchaser will be paid for by Seller and Purchaser shall not be liable
therefor. Seller will not assign to Purchaser, and Purchaser will not be entitled to, any deposits held by any utility company
or other company servicing the Property; but rather such deposits will be returned to Seller and Purchaser will arrange and bear
all responsibility to arrange with all utility companies to have accounts styled in Purchaser’s name beginning on the Closing
Date. The provisions of this Section 4.4(d) shall survive the Closing.

 

(e)               
At the Closing, Seller will, at Seller’s option, either pay to Purchaser in cash the amount of any security deposits
actually paid to or received by Seller under the Leases (and not as of the Closing Date returned to or forfeited by tenants under
Leases) and any prepaid rentals actually paid to or received by Seller for periods subsequent to the Closing or provide a credit
to Purchaser equal to the foregoing amounts; provided, however, non-refundable payments, deposits, or fees collected by Seller
shall not be prorated. The provisions of this Section 4.4(e) shall survive the Closing

 

(f)               
Purchaser shall be responsible for the payment of (i) all Tenant Inducement Costs (as hereinafter defined) and leasing
commissions which become due and payable (whether before or after Closing) (A) as a result of any renewals or expansions of
existing Leases which occur between the Effective Date of this Agreement and the Closing Date, and (B) under any new Leases
(including any amendments of existing Leases) entered into between the Effective Date of this Agreement and the Closing Date which
have been approved (or deemed approved) by Purchaser; and (ii) all Tenant Inducement Costs and leasing commissions which become
due and payable from and after the Closing Date. If as of the Closing Date Seller shall have paid any Tenant Inducement Costs or
leasing commissions for which Purchaser is responsible pursuant to the foregoing provisions, Purchaser shall reimburse Seller therefor
at Closing. Seller shall supply invoices and statements for all such Tenant Inducement Costs and leasing commissions to Purchaser
on or prior to the Closing Date. For purposes hereof, the term “Tenant Inducement Costs” means reasonable attorneys’
fees and costs incurred in connection with the preparation and negotiation of a new Lease or a renewal or expansion of an existing
Lease and any out-of-pocket payments required under a Lease to be paid by the landlord thereunder to or for the benefit of the
tenant thereunder which is in the nature of a tenant inducement, including specifically, without limitation, tenant improvement
costs, lease buyout costs, and moving, design, refurbishment and club membership allowances. The term “Tenant Inducement
Costs” shall not include loss of income resulting from any free or reduced rental period, it being agreed that Seller shall
bear the loss resulting from any free or reduced rental period until the Closing Date and that Purchaser shall bear such loss from
and after the Closing Date.

 

    	PURCHASE AGREEMENT	Page 9	 

    	 

    
 

(g)               
Any prepaid items, including, without limitation fees for licenses which are transferred to the Purchaser at the Closing
and annual permit and inspection fees shall be prorated as of the Closing. Any up-front fees or other non-recurring payment received
by Seller prior to the Effective Date at the inception of the term of any telecommunications, laundry or other contract will not
be prorated, may be retained by Seller and shall not be credited to Purchaser at Closing. Notwithstanding the foregoing, there
shall be no proration of Seller’s insurance premiums or assignment of Seller’s insurance policies. Purchaser shall
be obligated (at its own election) to obtain any insurance coverage deemed necessary or appropriate by Purchaser.

 

(h)              
The Personal Property is included in this sale, without further charge, except that Purchaser shall pay to Seller the amount
of any and all sales or similar taxes payable in connection with the Personal Property which is to be transferred to Purchaser
under this Agreement and Purchaser shall execute and deliver any tax returns required of it in connection therewith, said obligations
of Purchaser to survive Closing.

 

(i)                
Notwithstanding anything contained herein to the contrary, in the event that the Property has only one tenant and such tenant
is responsible for the payment of real property taxes under the terms of its Lease, then (i) real property taxes shall not
be prorated at Closing, (ii) Seller shall credit to Purchaser at Closing any amount Seller has previously collected from such
tenant to pay real property taxes, and (iii) Purchaser shall be responsible for payment of real property taxes and shall deal
with such tenant in respect of real property taxes in accordance with such tenant’s Lease.

 

(j)                
All prorations described in this Section 4.4 shall be effected by increasing or decreasing, as appropriate, the amount
of cash to be paid by Purchaser to Seller at Closing. Except for the prorations described in Sections 4.4(a) and 4.4(c) above,
all prorations provided for herein shall be final. The proration of taxes described in Section 4.4(a) above shall be deemed
final if no adjustment thereto is requested within one (1) year after Closing.

 

4.5                
Closing Costs. Seller shall pay (a) the fees of any counsel representing it in connection with this transaction;
(b) the basic premium for the Owner’s Policy of Title Insurance to be issued to Purchaser by the Title Company at Closing
(specifically excluding the additional premium chargeable for modification of the survey exception or any endorsements, which deletion
and endorsement expense shall be borne by Purchaser); (c) the cost of the Existing Survey; (d) the fees for recording
the Deed; and (e) one-half (1⁄2) of any escrow fee which may be charged by the Title Company. Purchaser shall pay (v) the
fees of any counsel representing Purchaser in connection with this transaction; (w) the cost of the Updated Survey; (x) the
additional premium chargeable for modification of the survey exception and any endorsements, if such modification is desired by
Purchaser; (y) any transfer tax, documentary stamp tax, sales tax or similar tax which becomes payable by reason of the transfer
of the Property or any component thereof; and (z) one-half (1⁄2) of any escrow fees charged by the Title Company. All other
costs and expenses incident to this transaction and the closing thereof shall be paid by the party incurring same.

 

    	PURCHASE AGREEMENT	Page 10	 

    	 

    
 

4.6                
Closing Statements. On or prior to the Closing Date, the Title Company shall deliver to Seller and Purchaser closing
statements in the standard form in use in the State of Texas, which describe the prorations and adjustments required by this Agreement.
If Seller and Purchaser cannot reasonably agree on the final closing statements to be executed by Seller and Purchaser and deposited
at Closing with the Title Company because of a dispute over the prorations and adjustments required by this Agreement, then, so
long as the amount in dispute is less than $10,000 in the aggregate, the Closing nevertheless shall occur, and the amount in dispute
shall be withheld from the Sales Price and held in an escrow with the Title Company, to be paid out upon the joint direction of
the parties or pursuant to court order upon resolution or other final determination of the dispute. The provisions of this Section 4.6
shall survive the Closing

 

4.7                
Delivery of Documents. Immediately after Closing, Seller shall direct the manager of the Property to make available
at the offices of such manager all books and records of account, contracts, leases and leasing correspondence, receipts for deposits,
unpaid bills and other papers or documents which pertain to the operation of the Property together with all advertising materials,
booklets, keys and other items, if any, used in the operation of the Property. Seller makes no representations regarding the existence
or adequacy of such documents or items for use in management or operation of the Property. The foregoing shall not include the
separate books, records, correspondence and other documentation of Seller located at its offices, nor shall it include any computer
software or computer programs used by the manager of the Property or Seller in connection with the Property, it being understood
and agreed that the foregoing items are not part of the “Property” to be conveyed to Purchaser hereunder. After the
Closing, Seller shall have the right to inspect the books and records of the Property to verify that Purchaser is remitting to
Seller all amounts to be remitted to Seller according to the terms of this Agreement, and for any other purpose related to Seller’s
prior ownership of the Property, and this provision shall survive Closing.

 

4.8                
Preservation of Right to Contest. Seller reserves the right to contest after Closing taxes and assessments with respect
to the Property and interest or penalties pertaining thereto, to the extent same are applicable to periods prior to Closing, and
Seller shall be entitled to any refunds made with respect to such contested taxes. All taxes imposed because of a change of use
or ownership of the Property after or in connection with the Closing shall be for the account of Purchaser, and Purchaser shall
indemnify and hold Seller harmless of, from and against any and all costs, damages, expenses, claims, or liability arising from
the imposition of any such taxes. The provisions of this Section 4.8 shall survive the Closing.

 

4.9                
[Intentionally Omitted].

 

4.10            
Contemporaneous Closing. Seller acknowledges that it is indirectly owned by Behringer Harvard Short-Term Opportunity
Fund I, LP, a fund sponsored or advised by Behringer Harvard Holdings, LLC (“BHH”) and that Behringer Harvard Bowen
Road Data Center, LP, a Delaware limited partnership (“BH Bowen”) is indirectly owned by Behringer Harvard Opportunity
REIT I, Inc., a fund that is also sponsored or advised by BHH. Seller and Purchaser acknowledge and agree that Purchaser and BH
Bowen entered into that certain Purchase Agreement of even date herewith (the “Bowen Road Data Center Agreement”) for
property located in the City of Arlington, County of Tarrant, State of Texas, as more particularly described in the Bowen Road
Data Center Agreement. Notwithstanding anything contained herein to the contrary, it shall be a condition precedent to the obligations
of Purchaser under this Agreement that the Closing pursuant to the Bowen Road Data Center Agreement occur contemporaneously with
the Closing pursuant to this Agreement. If (i) Seller notifies Purchaser the foregoing condition precedent will not be fulfilled,
or (ii) on or after October 31, 2012 Purchaser reasonably determines that this foregoing condition precedent will not be fulfilled,
or (iii) the Bowen Road Data Center Agreement is terminated, then Purchaser may (i) terminate this Agreement by giving written
notice to the Seller on or before five (5) business days after the occurrence of any of the events under (i), (ii) or (iii) above,
in which case the Earnest Money shall be returned to Purchaser; or (ii) waive the condition of this Section 4.10 and precede to
Closing (Purchaser’s failure to give a notice of termination as provided in this Section 4.10 being deemed to be a waiver).

 

    	PURCHASE AGREEMENT	Page 11	 

    	 

    
 

ARTICLE V

REPRESENTATIONS, WARRANTIES, AND COVENANTS

 

5.1Representations
and Warranties of Seller. Seller hereby represents and warrants to Purchaser, which representations and warranties will be
deemed made by Seller to Purchaser as of the Effective Date and also as of the Closing Date, no special investigation or inquiry
having been made, as follows:

 

(a)               
Seller is organized, validly existing and in good standing under the laws of the state of its formation. Seller has the
limited partnership or appropriate entity right, power and authority to sell and convey the Property as provided in this Agreement
and to carry out Seller’s obligations hereunder. The individuals executing this Agreement on behalf of Seller have the right,
power and authority to do so and this Agreement constitutes the legal, valid and binding obligation of Seller, except as limited
by bankruptcy, insolvency, reorganization, moratorium, or other laws of general application relating to the enforcement of creditors’
rights and by general principles of equity.

 

(b)              
Subject to board approval, to Seller’s knowledge, the execution and delivery of this Agreement and the consummation
of the transaction contemplated hereby will not result in any breach of the terms, conditions or constitute a default under any
instrument or obligation to which Seller is now a party.

 

(c)               
Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended,
and any related regulations.

 

(d)              
To Seller’s knowledge, there are no parties in possession of any portion of the Property except Seller and Tenants
under the Leases or any subleases, parking leases or rooftop leases, or as otherwise disclosed in the Property Documents or shown
as a Permitted Exception.

 

(e)               
To Seller’s knowledge, the documents heretofore or hereafter delivered or otherwise made available for viewing to
Purchaser prior to Closing include true and complete copies of the Leases used by Seller and Seller’s property manager in
the day-to-day operation and management of the Property and the current rent roll used by Seller and Seller’s property manager
in the operation of the Property.

 

(f)               
To Seller’s knowledge, except as disclosed in the Property Documents, Seller has received no material written notice
claiming violation of any federal, state, county or municipal law, ordinance, order, regulation or requirement affecting any portion
of the Property from any governmental entity that has not been corrected.

 

    	PURCHASE AGREEMENT	Page 12	 

    	 

    
 

(g)               
To Seller’s knowledge, there is no action, suit, proceeding, claim or governmental investigation pending or threatened
against the Property or any portion thereof except for any personal injury or property damage action for which there is adequate
insurance coverage.

 

(h)              
To Seller’s knowledge, there is no pending or threatened, condemnation or similar proceeding affecting the Property
or any portion thereof.

 

(i)                
To Seller’s knowledge, (i) all leasing commissions which are attributable to the current term of the Leases existing
as of the Effective Date have been paid in full except as set forth on Schedule 5.1(i) attached hereto an incorporated
by reference, (ii) there are no leasing and brokerage commissions or other similar compensations required with respect to,
or on account of, any Lease extensions or renewals thereof that will be payable after Closing except as set forth on Schedule 5.1(i),
and (iii) there are no commission agreements pertaining to any such Lease extensions or renewals that will be binding on Purchaser
after Closing except as set forth on Schedule 5.1(i).

 

(j)                
Seller is not listed in Executive Order 13224 – Blocking Property and Prohibiting Transactions with Persons who
Commit, Threaten to Commit or Support Terrorism, as amended (“Executive Order 13224”), and Seller has no present,
actual knowledge that any other persons or entities holding any legal or beneficial interest whatsoever in Seller are included
in, owned by, controlled by, knowingly acting for or on behalf of, knowingly providing assistance, support, sponsorship or services
of any kind to, or otherwise knowingly associated with any of the persons or entities referred to or described in Executive Order 13224,
or banned or blocked person, entity, nation or transaction pursuant to any law, order, rule or regulation that is enforced or administered
by the Office of Foreign Assets Control.

 

5.2                
Notice of Breach.

 

(a)               
To the extent that, before the expiration of the Inspection Period, Purchaser obtains actual knowledge or is deemed to know
that Seller’s representations and warranties are inaccurate, untrue or incorrect in any way, such representations and warranties
shall be deemed modified to reflect such actual or deemed knowledge as of the end of the Inspection Period. For purposes hereof,
Purchaser shall be deemed to know all information set forth in the written materials delivered or made available to Purchaser in
respect of the Property.

 

(b)              
If after the expiration of the Inspection Period but prior to the Closing, Purchaser first obtains actual knowledge that
any of the representations or warranties made herein by Seller are untrue, inaccurate or incorrect in any material respect, Purchaser
shall give Seller written notice thereof within five (5) days after obtaining such actual knowledge (but, in any event, prior to
the Closing). In such event, Seller shall have the right (but not the obligation) to attempt to cure such misrepresentation or
breach and shall, at its option, be entitled to a reasonable adjournments of the Closing (not to exceed thirty (30) days) for the
purpose of such cure. If Seller elects to attempt to so cure but is unable to so cure any misrepresentation or breach of warranty,
then Purchaser, as its sole remedy for any and all such materially untrue, inaccurate or incorrect representations or warranties,
shall elect either (i) to waive such misrepresentations or breaches of representations and warranties and consummate the transaction
contemplated hereby without any reduction of or credit against the Purchase Price, or (ii) if Purchaser first obtained actual
knowledge of such material misrepresentation or breach of warranty after the end of the Inspection Period, to terminate this Agreement
in its entirety by written notice given to Seller on the Closing Date, in which event this Agreement shall be terminated, the Earnest
Money shall be returned to Purchaser, and thereafter neither party shall have any further rights or obligations hereunder except
as provided in any section hereof that by its terms expressly provides that it survives any termination of this Agreement.

 

    	PURCHASE AGREEMENT	Page 13	 

    	 

    
 

5.3                
Survival of Representations. It is the intent of Seller and Purchaser that the representations and warranties made
by Seller in Section 5.1 above (the “Seller Obligations”) shall survive Closing for a period of one hundred eighty
(180) days after the date of Closing (the “Survival Period”). Purchaser acknowledges that it is a sophisticated Purchaser
who is familiar with the ownership and operation of real estate projects similar to the Property, and Purchaser and Seller have
negotiated and agreed upon the length of the Survival Period as an adequate period of time for Purchaser to discover any and all
facts that could give rise to a claim or cause of action for a breach of a representation. Upon expiration of the Survival Period,
all representations contained in this Agreement will be deemed to have merged into the instruments of Closing and shall be of no
further force or effect. Accordingly, Purchaser and Seller hereby agree that, notwithstanding any provision of this Agreement or
any provision of law to the contrary, any action which may be brought under this Agreement by Purchaser against Seller for breach
of any Seller Obligations shall be forever barred unless Purchaser (a) delivers to Seller no later than the expiration of
the Survival Period a written notice of its claim setting forth in reasonable detail the factual basis for such claim and Purchaser’s
good faith estimate of its damages arising out of such claim, and (b) files a complaint or petition against Seller alleging
such claim in an appropriate state or federal court in Dallas County, Texas, no later than one hundred eighty (180) days after
the expiration of the Survival Period. In no event shall Seller be liable after the date of Closing for its breach of any Seller
Obligations if such breach was actually known to Purchaser prior to the completion of Closing. Time is of the essence with respect
to the foregoing time periods. With respect to any matter constituting breach of a Seller Obligation, Purchaser shall first seek
any available recovery under any insurance policies, assigned Service Contracts, warranties and Leases prior to seeking recovery
from Seller, and Seller shall not be liable to Purchaser if Purchaser’s claim is satisfied from such insurance policies,
Service Contracts, warranties, or Leases. Seller’s liability for breach of any Seller Obligations shall be limited as follows:
(i) Seller shall have liability for breach of Seller Obligations only if the valid claims for all such breaches collectively
aggregate more than Fifty Thousand Dollars ($50,000), in which event the full amount of such claims shall be actionable (Purchaser
hereby waiving any right to seek to recover any damages of Fifty Thousand Dollars ($50,000) or less), and (ii) Seller’s
aggregate liability to Purchaser for breaches of the Seller Obligations shall not exceed the amount of Two Hundred Fifty Thousand
Dollars ($250,000) (the “Cap”), it being agreed that in no event shall Seller’s aggregate liability for such
breaches exceed the amount of the Cap. Purchaser agrees that, with respect to any alleged breach of representations of Seller under
this Agreement discovered after the expiration of the Survival Period, the maximum liability of Seller for all such alleged breaches
is limited to $100. The provisions of this Section 5.3 shall survive Closing to the extent expressly provided in this Section.

 

5.4                
Covenants of Seller. Seller hereby covenants as follows:

 

(a)               
Between the Effective Date and the Closing Date, Seller shall maintain the Property in its present condition, ordinary wear
and tear excepted;

 

(b)              
Between the Effective Date and the Closing Date, Seller shall maintain all casualty, liability and hazard insurance currently
in force with respect to the Property; and

 

(c)               
Between the Effective Date and the Closing Date, Seller shall lease, operate, manage and enter into contracts with respect
to the Property, in the same manner done by Seller prior to the date hereof, maintaining present services and sufficient supplies
and equipment for the operation and maintenance of the Property in the same manner as prior to the date hereof; provided, however,
that Seller shall not enter into any service contract that cannot be terminated within thirty (30) days notice. Seller shall terminate,
by giving notice at Closing, any Service Contracts that may by their terms be terminated and which Purchaser elects not to assume
(which election shall be made in writing by Purchaser to Seller on or prior to the expiration of the Inspection Period), provided
that Purchaser shall be responsible for any termination fees incurred in connection with the same if such fees were set forth in
the Service Contracts made available by Seller for review by Purchaser or otherwise disclosed in writing to Purchaser and Purchaser
shall be deemed to have approved and shall have no right not to elect to assume those Service Contracts that, by their terms, cannot
be terminated by Seller without the payment of a penalty, termination fee, or other charge that is not paid by Purchaser The property
management agreement in effect with respect to the Property and any Service Contract that is not delivered to Purchaser, shall
be deemed to be rejected by Purchaser and Seller shall, at Seller’s expense, terminate such property management agreement
as it effects the Property and any undelivered Service Contracts effective not later than the Closing Date.

 

    	PURCHASE AGREEMENT	Page 14	 

    	 

    
 

(d)              
A copy of each Lease presented to Seller between the expiration of the Inspection Period and the Closing Date for its approval
and execution will be submitted to Purchaser prior to execution by Seller. Purchaser agrees to notify Seller in writing within
five (5) business days after its receipt of each such Lease of either its approval or disapproval thereof, including all Tenant
Inducement Costs and leasing commissions to be incurred in connection therewith. In the event Purchaser informs Seller that Purchaser
does not approve any such Lease, which approval shall not be unreasonably withheld, Seller shall have the option to cancel this
Agreement by written notice thereof to Purchaser within five (5) business days after Seller’s receipt of written notice of
Purchaser’s disapproval of any such Lease, and upon refund and payment of the Earnest Money to Purchaser, neither party shall
have any further liability or obligation hereunder. In the event Purchaser fails to notify Seller in writing of its approval or
disapproval of any such Lease within the five-day period for such purpose set forth above, such failure shall be deemed the approval
by Purchaser of such Lease. At Closing, Purchaser shall reimburse Seller for any Tenant Inducement Costs or leasing commissions
incurred by Seller pursuant to a new Lease approved (or deemed approved) by Purchaser..

 

5.5                
Seller’s Knowledge. As used in this Agreement, all references to “Seller’s Knowledge” or
“actual knowledge” of Seller, or similar qualifications means the current actual knowledge of Anthony Strauser (the
“Seller Representative”) without any investigation or inquiry and without regard to the knowledge of any former or
other employees, agents or contractors of Seller. The Seller Representative shall not have any personal liability whatsoever for
the representations made herein or for any other matters relating to this Agreement. Purchaser acknowledges that the Seller Representative’s
current actual knowledge regarding the foregoing matters (including, without limitation, any environmental matters) may be limited.

 

5.6                
Covenants of Purchaser. Purchaser hereby covenants as follows:

 

(a)               
During the Inspection Period, Purchaser shall obtain a “Phase I” environmental report prepared for and
at the expense of Purchaser with respect to the Property by an environmental consultant selected by Purchaser.

 

(b)              
If requested to do so by Seller in writing, at Closing (or upon termination of this Agreement prior to Closing), Purchaser
shall deliver to Seller copies of any environmental reports, engineering reports, structural reports or other due diligence materials
prepared by third parties obtained by Purchaser with respect to the Property.

 

(c)               
Purchaser is currently in compliance with, and shall at all times during the term of this Agreement (including any extension
thereof) remain in compliance with, the regulations of OFAC and any statute, executive order (including the September 24, 2001,
Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism),
or other governmental action relating thereto.

 

    	PURCHASE AGREEMENT	Page 15	 

    	 

    
 

5.7                
Tenant Estoppel. Seller shall use reasonable efforts to obtain an estoppel certificate, in form substantially in
accordance with Exhibit J attached hereto and made a part hereof for all purposes, as such form may be replaced or
modified to reflect the requirements under the tenant’s lease and subject to non-material exceptions, qualifications or modifications
(the “Estoppel Certificate”), executed by Internap Network Services Corporation, a Delaware corporation; provided,
however, that if Seller is unable to procure such Estoppel Certificate prior to Closing, Purchaser may terminate this Agreement
and receive the return of the Earnest Money, or may, upon mutual agreement with Seller, extend the Closing Date to afford Seller
additional time to obtain such Estoppel Certificate.

 

5.8                
Representations and Warranties of Purchaser. Purchaser represents and warrants to Seller, which representations and
warranties shall be deemed made by Purchaser to Seller as of the Effective Date and also as of the Closing Date, that Purchaser
has the full right, power and authority to purchase the Property as provided in this Agreement and to carry out Purchaser’s
obligations hereunder, and that all requisite action necessary to authorize Purchaser to enter into this Agreement and to carry
out Purchaser’s obligations hereunder has been taken and this Agreement constitutes the legal, valid and binding obligation
of Purchaser, except as limited by bankruptcy, insolvency, reorganization, moratorium, or other laws of general application relating
to the enforcement of creditors’ rights and by general principles of equity. Purchaser is not listed in Executive Order 13224
– Blocking Property and Prohibiting Transactions with Persons who Commit, Threaten to Commit or Support Terrorism, as amended
(“Executive Order 13224”), and Purchaser has no present, actual knowledge that any other persons or entities holding
any legal or beneficial interest whatsoever in Purchaser are included in, owned by, controlled by, knowingly acting for or on behalf
of, knowingly providing assistance, support, sponsorship or services of any kind to, or otherwise knowingly associated with any
of the persons or entities referred to or described in Executive Order 13224, or banned or blocked person, entity, nation
or transaction pursuant to any law, order, rule or regulation that is enforced or administered by the Office of Foreign Assets
Control. Notwithstanding anything herein to the contrary, any breach by Purchaser of any of the foregoing representations or warranties
shall constitute a default by Purchaser hereunder, and Seller may thereupon, at its option, terminate this Agreement by giving
written notice thereof, in which event the Earnest Money will be paid to Seller as liquidated damages, and neither Purchaser nor
Seller shall have any further rights or liabilities hereunder, except as otherwise provided herein.

 

5.9                
Use of Property. Seller has not claimed the benefit of laws permitting a special use valuation for the purposes of
payment of ad valorem taxes on the Property. If a previous owner claimed such benefit and, after the purchase is closed, Purchaser
changes the use of the Property from its present use and the same results in the assessment of additional taxes, such additional
taxes will be the obligation of the Purchaser, notwithstanding that some or all of such additional taxes may relate back to the
period prior to Closing.

 

ARTICLE VI

DEFAULT; REMEDIES

 

6.1                
Default of Purchaser. In the event Purchaser fails to perform its obligations pursuant to this Agreement for any
reason except failure by Seller to perform hereunder or the permitted termination hereof by Purchaser or Seller in accordance with
the express provisions hereof, Seller shall be entitled, as its sole remedy, to terminate this Agreement and recover the Earnest
Money as liquidated damages and not as a penalty, in full satisfaction of claims against Purchaser hereunder. Seller and Purchaser
agree that Seller’s damages resulting from Purchaser’s default are difficult, if not impossible, to determine and that
the Earnest Money is a fair estimate of those damages which has been agreed to in an effort to cause the amount of said damages
to be certain. Upon such payment of the Earnest Money, this Agreement shall terminate and neither party shall have any further
rights or obligations pursuant to this Agreement, other than as set forth herein in the following sentence and with respect to
rights or obligations which survive termination; all other remedies being herein expressly waived by Seller. In the event of Purchaser’s
default and notwithstanding anything in this Section 6.1 to the contrary, Seller shall have all remedies available at law
or in equity in the event Purchaser or any party related to or affiliated with Purchaser is asserting any claims or right to the
Property that would otherwise delay or prevent Seller from having clear, indefeasible and marketable title to the Property.

 

    	PURCHASE AGREEMENT	Page 16	 

    	 

    
 

6.2                
Default of Seller. If the transaction contemplated hereby is not consummated by reason of Seller’s breach or
other failure to timely perform all obligations and conditions to be performed by Seller, or a breach prior to Closing of Seller’s
covenants, representations or warranties under this Agreement, then Purchaser may, as its sole and exclusive remedy (whether at
law or in equity), either (i) terminate this Agreement and receive the return of the Earnest Money from the Escrow Agent;
and, thereafter, neither party shall have any further rights or obligations pursuant to this Agreement, other than as set forth
herein with respect to rights or obligations which survive termination, or (ii) enforce specific performance of Seller’s
obligations hereunder; all other remedies being herein expressly waived by Purchaser. Unless Purchaser has filed an action for
specific performance, and such action is pending, Purchaser shall not have the right or authority to place a lis pendens
against any portion of the Property, and Purchaser hereby waives and releases any right it may have under applicable law to file
any lis pendens absent such pending action.

 

6.3                
Post-Closing Remedies. Notwithstanding the provisions of Sections 6.1 and 6.2 above, in the event that after
the termination of this Agreement or after Closing, as the case may be, a party (the “Defaulting Party”) breaches an
obligation hereunder which is expressly stated herein to survive the termination of this Agreement or Closing, as the case may
be, the Defaulting Party shall be liable to the other party (the “Non-Defaulting Party”) for the direct, actual damages
incurred by the Non-Defaulting Party as a direct result of such breach. In no event shall the Non-Defaulting Party be entitled
to recover from the Defaulting Party any punitive, exemplary, consequential or speculative damages.

 

ARTICLE VII

RISK OF LOSS

 

7.1                
Minor Damage. In the event of loss or damage to the Property or any portion thereof (the “premises in question”)
which is not “major” (as hereinafter defined), this Agreement shall remain in full force and effect provided Seller,
at Seller’s option, (i) performs any necessary repairs; (ii) credits Purchaser in the amount of the applicable
insurance deductible against the Purchase Price and assigns to Purchaser all of Seller’s right, title and interest to any
claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the premises
in question; or (iii) reduces the cash portion of the Purchase Price in an amount equal to the cost of such repairs, Seller
thereby retaining all of Seller’s right, title and interest to any claims and proceeds Seller may have with respect to any
casualty insurance policies or condemnation awards relating to the premises in question. In the event that Seller elects to perform
repairs upon the Property, Seller shall use reasonable efforts to complete such repairs promptly and the date of Closing shall
be extended a reasonable time in order to allow for the completion of such repairs.

 

7.2                
Major Damage. In the event of a “major” loss or damage, either Seller or Purchaser may terminate this
Agreement by written notice to the other party, in which event the Earnest Money shall be returned to Purchaser. If neither Seller
nor Purchaser elects to terminate this Agreement within ten (10) days after Seller sends Purchaser written notice of the occurrence
of major loss or damage, then Seller and Purchaser shall be deemed to have elected to proceed with Closing, in which event Seller
shall, at Seller’s option, either (a) perform any necessary repairs, or (b) credit Purchaser in the amount of the
applicable insurance deductible against the Purchase Price and assign to Purchaser all of Seller’s right, title and interest
to any claims and proceeds Seller may have with respect to any casualty insurance policies or condemnation awards relating to the
premises in question. In the event that Seller elects to perform repairs upon the Property, Seller shall use reasonable efforts
to complete such repairs promptly and the date of Closing shall be extended a reasonable time in order to allow for the completion
of such repairs. Upon Closing, full risk of loss with respect to the Property shall pass to Purchaser. For purposes of Sections 7.1
and 7.2, “major” loss or damage refers to the following: (i) loss or damage to the Property or any portion thereof
such that the cost of repairing or restoring the premises in question to a condition substantially identical to that of the premises
in question prior to the event of damage would be, based on the Seller’s insurance adjuster’s assessment, equal to
or greater than ten percent (10%) of the Purchase Price; and (ii) any loss due to a condemnation which permanently and materially
impairs the current use of the Property.

 

    	PURCHASE AGREEMENT	Page 17	 

    	 

    
 

7.3                
Uniform Vendor and Purchaser Risk Act Not Applicable. It is the express intent of the parties hereto that the provisions
of Sections 7.1 and 7.2 govern the rights of the parties in the event of damage to or condemnation of the Property and that
the Uniform Vendor and Purchaser Risk Act (Section 5.007 of the Texas Property Code) not apply to this Agreement.

 

ARTICLE VIII

DISCLAIMERS AND WAIVERS

 

8.1                
No Reliance on Documents. Except as expressly stated herein, Seller makes no representation or warranty as to the
truth, accuracy or completeness of any materials, data or information delivered by Seller to Purchaser in connection with the transaction
contemplated hereby (including specifically, without limitation, the Property Documents). Purchaser acknowledges and agrees that
all materials, data and information delivered by Seller to Purchaser in connection with the transaction contemplated hereby (including
specifically, without limitation, the Property Documents) are provided to Purchaser as a convenience only and that any reliance
on or use of such materials, data or information by Purchaser shall be at the sole risk of Purchaser, except as otherwise expressly
stated herein. Without limiting the generality of the foregoing provisions, if any budget or similar
document is delivered by Seller to Purchaser, Seller makes no representation or warranty as to the accuracy thereof, nor shall
any such document be construed to impose upon Seller any duty to spend the amounts set forth in such budget or other document.

 

8.2                
Disclaimers.

 

(a)EXCEPT
AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR ANY CLOSING DOCUMENT, IT IS UNDERSTOOD AND AGREED THAT SELLER IS NOT MAKING AND HAS
NOT AT ANY TIME MADE ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY,
INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OR REPRESENTATIONS AS TO HABITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, TITLE (OTHER THAN SELLER’S WARRANTY OF TITLE TO BE SET FORTH IN THE DEED), ZONING, TAX CONSEQUENCES, PHYSICAL OR
ENVIRONMENTAL CONDITION, UTILITIES, OPERATING HISTORY OR PROJECTIONS, VALUATION, GOVERNMENTAL APPROVALS, THE COMPLIANCE OF THE
PROPERTY WITH GOVERNMENTAL LAWS, THE TRUTH, ACCURACY OR COMPLETENESS OF THE PROPERTY DOCUMENTS OR ANY OTHER INFORMATION PROVIDED
BY OR ON BEHALF OF SELLER TO PURCHASER, OR ANY OTHER MATTER OR THING REGARDING THE PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES
THAT UPON CLOSING SELLER SHALL SELL AND CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY “AS IS, WHERE IS, WITH
ALL FAULTS,” EXCEPT TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE IN THIS AGREEMENT. PURCHASER HAS NOT RELIED AND WILL NOT RELY
ON, AND SELLER IS NOT LIABLE FOR OR BOUND BY, ANY EXPRESS OR IMPLIED WARRANTIES, GUARANTIES, STATEMENTS, REPRESENTATIONS OR INFORMATION
PERTAINING TO THE PROPERTY OR RELATING THERETO MADE OR FURNISHED BY SELLER, THE MANAGER OF THE PROPERTY, OR ANY REAL ESTATE BROKER
OR AGENT REPRESENTING OR PURPORTING TO REPRESENT SELLER, TO WHOMEVER MADE OR GIVEN, DIRECTLY OR INDIRECTLY, VERBALLY OR IN WRITING,
UNLESS SPECIFICALLY SET FORTH IN THIS AGREEMENT. PURCHASER REPRESENTS TO SELLER THAT PURCHASER HAS CONDUCTED, OR WILL CONDUCT PRIOR
TO CLOSING, SUCH INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF,
AS PURCHASER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OR CURATIVE
ACTION TO BE TAKEN WITH RESPECT TO ANY HAZARDOUS OR TOXIC SUBSTANCES ON OR DISCHARGED FROM THE PROPERTY, AND WILL RELY SOLELY UPON
SAME AND NOT UPON ANY INFORMATION PROVIDED BY OR ON BEHALF OF SELLER OR ITS AGENTS OR EMPLOYEES WITH RESPECT THERETO, OTHER THAN
SUCH REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AS ARE EXPRESSLY SET FORTH IN THIS AGREEMENT. UPON CLOSING, PURCHASER
SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL AND ENVIRONMENTAL
CONDITIONS, MAY NOT HAVE BEEN REVEALED BY PURCHASER’S INVESTIGATIONS, AND PURCHASER, UPON CLOSING, SHALL BE DEEMED TO HAVE
WAIVED, RELINQUISHED AND RELEASED SELLER FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION (INCLUDING CAUSES OF ACTION
IN TORT), LOSSES, DAMAGES, LIABILITIES, COSTS AND EXPENSES (INCLUDING ATTORNEYS’ FEES AND COURT COSTS) OF ANY AND EVERY KIND
OR CHARACTER, KNOWN OR UNKNOWN, WHICH PURCHASER MIGHT HAVE ASSERTED OR ALLEGED AGAINST SELLER AT ANY TIME BY REASON OF OR ARISING
OUT OF ANY CONSTRUCTION DEFECTS, PHYSICAL CONDITIONS, VIOLATIONS OF ANY APPLICABLE LAWS (INCLUDING ANY ENVIRONMENTAL LAWS) AND
ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS, CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTY. PURCHASER AGREES THAT SHOULD ANY CLEANUP,
REMEDIATION OR REMOVAL OF HAZARDOUS SUBSTANCES OR OTHER ENVIRONMENTAL CONDITIONS ON THE PROPERTY BE REQUIRED AFTER THE DATE OF
CLOSING, SUCH CLEAN-UP, REMOVAL OR REMEDIATION SHALL BE THE RESPONSIBILITY OF AND SHALL BE PERFORMED AT THE SOLE COST AND EXPENSE
OF PURCHASER.

 

    	PURCHASE AGREEMENT	Page 18	 

    	 

    
 

(b)Except
as otherwise specifically stated in this Agreement, Purchaser agrees that Seller shall not be responsible or liable to Purchaser
for any construction defects, errors, omissions, or on account of any other conditions affecting the Property, as Purchaser is
purchasing the Property AS IS, WHERE IS, and WITH ALL FAULTS. Purchaser or anyone claiming by, through or under Purchaser, hereby
fully releases Seller, its employees, officers, directors, representatives, attorneys and agents from any claim, cost, loss, liability,
damage, expense, demand, action or cause of action arising from or related to any construction defects, errors, omissions, or other
conditions affecting the Property, including, without limitation, any environmental matters or conditions affecting or migrating
from or onto the Property. Purchaser further acknowledges and agrees that this release will be given full force and effect according
to each of its expressed terms and provisions, including, but not limited to, those relating to unknown and suspected claims, damages
and causes of action. This covenant releasing Seller will be a covenant running with the Property and will be binding upon Purchaser,
its successors and assigns. Subject to consummation of this Agreement, Seller hereby assigns to Purchaser, without recourse or
representation of any nature, effective upon Closing, any and all claims that Seller may have against any third party for any such
errors, omissions or defects in the Property. As a material covenant and condition of this Agreement, Purchaser agrees that in
the event of any such construction defects, errors, omissions or on account of any other conditions affecting the Property, Purchaser
will look solely to Seller’s predecessors in title or to such contractors and consultants as may have contracted for work
in connection with the Property for any redress or relief. Upon the assignment by Seller of its claims, Purchaser releases Seller
of all rights, express or implied, Purchaser may have against Seller arising out of or resulting from any errors, omissions or
defects in the Property. Purchaser further understands that some of Seller’s predecessors in title may have filed petitions
under the bankruptcy code and Purchaser may have no remedy against such predecessors, contractors or consultants. This waiver and
release of claims shall survive the Closing and shall not merge into the instruments of Closing.

 

    	PURCHASE AGREEMENT	Page 19	 

    	 

    
 

8.3                
Waivers of Deceptive Trade Practices Act. Purchaser acknowledges and agrees, on its own behalf and on behalf of its
assigns and successors, that the Texas Deceptive Trade Practices — Consumer Protection Act, Subchapter E of Chapter 17
of the Texas Business and Commerce Code (the “DTPA”), is not applicable to this transaction. Accordingly, Purchaser’s
rights and remedies with respect to this transaction, and with respect to all acts or practices of the other, past, present or
future, in connection with this transaction, shall be governed by legal principles other than the DTPA. In furtherance thereof,
Purchaser agrees as follows:

 

(a)               
Purchaser represents that it is a business consumer and that it seeks to acquire by purchase or lease the goods or services
that are the subject of this Agreement for commercial or business use. Purchaser further represents that it has knowledge and experience
in financial and business matters that enable it to evaluate the merits and risks of the business transaction that is the subject
of this Agreement. Purchaser also represents that it is not in a significantly disparate bargaining position in relation to Seller.

 

(b)              
Purchaser represents that it has been represented by legal counsel in seeking or acquiring the goods or services that are
the subject of this Agreement and that the transaction contemplated by this Agreement does not involve the purchase or lease of
a family residence occupied or to be occupied as the residence of Purchaser. Purchaser shall cause its legal counsel to sign this
Agreement in the space provided below for the purpose of complying with Section 17.42(a)(3) of the DTPA.

 

(c)               
Purchaser agrees, on its own behalf and on behalf of its assigns and successors, that all of its rights and remedies under
the DTPA are WAIVED AND RELEASED, including specifically, without limitation, all rights and remedies resulting from or arising
out of any and all acts or practices of Seller in connection with this transaction, whether such acts or practices occur before
or after the execution of this Agreement; provided, however, notwithstanding anything to the contrary herein, in accordance with
Section 17.42 of the DTPA, Purchaser does not waive Section 17.555 of the DTPA.

 

    	PURCHASE AGREEMENT	Page 20	 

    	 

    
 

8.4                
Effect and Survival of Disclaimers. Seller has informed Purchaser that the compensation to be paid to Seller for
the Property has been decreased to take into account that the Property is being sold subject to the provisions of this Article VIII.
Seller and Purchaser agree that the provisions of this Article VIII shall survive Closing.

 

ARTICLE IX

MISCELLANEOUS

 

9.1                
Broker. Seller and Purchaser represent each to the other that each has had no dealings with any broker, finder or
other party concerning Purchaser’s purchase of the Property except CBRE, Inc. (“Broker”). If (and only if) the
transaction that is the subject of this Agreement is consummated, Seller shall pay a commission to Broker pursuant to a separate
written agreement between Seller and Broker. Seller and Purchaser each hereby agree to indemnify and hold the other harmless from
all loss, cost, damage or expense (including reasonable attorney’s fees) incurred by the other as a result of any claim arising
out of the acts of the indemnifying party (or others on its behalf) for a commission, finder’s fee or similar compensation
made by any broker, finder or any party who claims to have dealt with such party except Broker. The foregoing representations and
warranties contained in this Section 9.1 shall survive the Closing. The Texas Real Estate License Act requires written notice to
Purchaser that it should have an attorney examine an abstract of title to the property being purchased or obtain a title insurance
policy. Notice to that effect is, therefore, hereby given to Purchaser.

 

9.2                
ERISA. Purchaser represents that Purchaser is not an employee benefit plan or a governmental plan or a party in interest
of either such a plan, and that the funds being used to acquire the Property are not plan assets or subject to state laws regulating
investments of and fiduciary obligations with respect to a governmental plan. As used herein, the terms “employee benefit
plan,” “party in interest,” “plan assets” and “governmental plan” shall have the respective
meanings assigned to such terms in ERISA, and the term “ERISA” shall mean the Employee Retirement Income Security Act
of 1974, as amended, and the regulations promulgated in connection therewith. Upon the request of Seller, Purchaser shall deliver
to Seller at Closing a certificate stating that the foregoing representations are true and correct and containing an agreement
by Purchaser to indemnify Seller against any inaccuracy in such representations. The foregoing covenants shall survive Closing.

 

9.3                
Assignability. Purchaser may not assign its rights under this Agreement without the prior written consent of Seller.
Purchaser may not assign its rights under this Agreement to anyone other than a Permitted Assignee (as hereinafter defined) without
first obtaining Seller’s written approval which may be given or withheld in Seller’s sole discretion. Subject to the
conditions set forth in this Section 9.3, Purchaser may assign its rights under this Agreement to a Permitted Assignee without
the prior written consent of Seller. In the event that Purchaser desires to assign its rights under this Agreement to a Permitted
Assignee, Purchaser shall send written notice to Seller at least five (5) business days prior to the effective date of such assignment
stating the name and, if applicable, the constituent persons or entities of the Permitted Assignee. Such assignment shall not become
effective until such Permitted Assignee executes an instrument reasonably satisfactory to Seller in form and substance whereby
the Permitted Assignee expressly assumes each of the obligations of Purchaser under this Agreement, including specifically, without
limitation, all obligations concerning the Earnest Money. No assignment shall release or otherwise relieve Purchaser from any obligations
hereunder. For purposes of this Section 9.3, the term “Permitted Assignee” shall mean an entity controlling, controlled
by or under common control with Purchaser. Notwithstanding anything to the contrary contained herein, Purchaser shall not have
the right to assign this Agreement to any assignee which, in the reasonable judgment of Seller, will cause the transaction contemplated
hereby or any party thereto to violate the requirements of ERISA or Purchaser’s representations and warranties made herein.
In order to enable Seller to make such determination, Purchaser shall cause to be delivered to Seller such information as is requested
by Seller with respect to a proposed assignee and the constituent persons or entities of any proposed assignee, including specifically,
without limitation, any pension or profit sharing plans related thereto.

 

    	PURCHASE AGREEMENT	Page 21	 

    	 

    
 

9.4                
Confidentiality. The information supplied to or made available to Purchaser by Seller pursuant to this Agreement
shall not be released or disclosed to any other parties unless and until this transaction has closed without the prior written
consent of Seller, except as required by applicable law. Seller shall not withhold its consent to disclosure of such information
to Purchaser’s attorney, third parties engaged by Purchaser for the limited purpose of analyzing and investigating such information
for the purpose of consummating the transaction, including engineers, accountants and financial advisors, or to any prospective
lender. In the event that this transaction is not closed for any reason, then (a) Purchaser shall refrain, and shall cause
its agents, representatives, contractors and accountants to refrain, from disclosing all such information to any other party, (b) Purchaser
shall promptly return to Seller any statements, documents, schedules, exhibits or other written information obtained from Seller
in connection with this Agreement or the transaction contemplated herein, and (c) notwithstanding anything to the contrary
contained elsewhere in this Agreement, the covenant set forth in the foregoing clauses (a) and (b) shall survive any termination
of this Agreement. It is understood and agreed that, with respect to any provision of this Agreement which refers to the termination
of this Agreement and the return of the Earnest Money to Purchaser, such Earnest Money shall not be returned to Purchaser unless
and until Purchaser has fulfilled its obligation to return to Seller the materials described in clause (b) of the preceding
sentence. In no event shall Purchaser issue any press releases prior to or in connection with the Closing regarding any of the
terms contained herein or the transactions contemplated herein without the consent of Seller. In the event of a breach or threatened
breach by Purchaser or its agents or representatives of this Section 9.4, Seller shall be entitled to an injunction restraining
Purchaser or its agents or representatives from disclosing, in whole or in part, such confidential information. Nothing herein
shall be construed as prohibiting Seller from pursuing any other available remedy at law or in equity for such breach or threatened
breach. The provisions of this Section 9.4 will survive the Closing or any termination of this Agreement and are not subject
to any liquidated damage limitation on remedies, notwithstanding anything to the contrary in this Agreement.

 

9.5                
Notice. All notices required or permitted hereunder shall be in writing and shall be served on the parties at the
following address:

 

	If to Seller:	Behringer Harvard 1221 Coit LP

Attention: James D. Fant

15601 Dallas Parkway, Suite 600

Addison, Texas 75001

Facsimile: 214-655-1610

Telephone: 469-341-2301

Email: jfant@behringerharvard.com

 

	With a copy to:	Powell Coleman & Arnold LLP

Attention: Michael L. McCoy

8080 North Central Expressway, Suite 1380

Dallas, Texas 75001

Facsimile: 214-365-71111

Telephone: 214-890-7117

Email: mmccoy@pcallp.com

 

    	PURCHASE AGREEMENT	Page 22	 

    	 

    
 

	If to Purchaser:	 Carter Validus Properties, LLC,

a Delaware limited liability company

4211 W. Boy Scout Blvd.

Suite 500

Tampa, FL 33607

Attention: Lisa Drummond

Facsimile: (813) 287-0397

Telephone: (813) 387-1691

Email: ldrummond@carterusa.com

 

	With a copy to:	GrayRobinson, P.A.

201 North Franklin Street, Suite 2200

Tampa, Florida 33602

Attention: Stephen L. Kussner, Esquire

Facsimile: (813) 273-5145

Telephone: (813) 273-5296

Email: stephen.kussner@gray-robinson.com

 

Any such notices shall be either (a) sent
by certified mail, return receipt requested, in which case notice shall be deemed delivered upon receipt, or (b) sent by a
nationally recognized overnight courier, in which case it shall be deemed delivered one business day after deposit with such courier,
(c) by facsimile transmission, in which case notice shall be deemed delivered upon receipt of confirmation of transmission
and provided a copy is also delivered via email transmission, or (d) delivered by hand delivery, in which case it shall be
deemed delivered upon receipt. The above addresses may be changed by written notice to the other party; provided, however, that
no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational
purposes only, and a failure to give or receive copies of any notice shall not be deemed a failure to give notice.

 

9.6                
Time of Essence. Time is of the essence in this Agreement.

 

9.7                
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. This Agreement may be executed via facsimile or by sending
copies of the executed Agreement via email followed by regular mail of the originals and shall be considered executed and binding
upon receipt of the fax or email of the signature page of the last of the party’s signature to this Agreement.

 

9.8                
Captions and Interpretation. The captions in this Agreement are inserted for convenience of reference and in no way
define, describe or limit the scope or intent of this Agreement or any of the provisions hereof. Where required for proper interpretation,
words in the singular shall include the plural, and words of any gender shall include all genders

 

9.9                
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
legal representatives, successors and permitted assigns.

 

9.10            
Entire Agreement; Modifications. This Agreement contains the entire agreement between the parties relating to the
transactions contemplated hereby and all prior or contemporaneous agreements, understandings, representations or statements, oral
or written, are superseded hereby. No waiver, modification amendment, discharge or change of this Agreement shall be valid unless
the same is in writing and signed by the party against which the enforcement of such modification, waiver, amendment discharge
or change is sought.

 

    	PURCHASE AGREEMENT	Page 23	 

    	 

    
 

9.11            
Partial Invalidity. Any provision of this Agreement which is unenforceable or invalid or the inclusion of which would
affect the validity, legality or enforcement of this Agreement shall be of no effect, but all the remaining provisions of this
Agreement shall remain in full force and effect. Furthermore, in lieu of any such invalid, illegal or unenforceable provision,
there will be automatically added to this Agreement a provision as similar to such illegal, invalid or unenforceable provision
as may be possible and be legal, valid and enforceable

 

9.12            
Discharge of Obligations. Except as otherwise expressly provided herein, the acceptance of the Deed by Purchaser
at Closing shall be deemed to be a full performance and discharge of every representation, warranty and covenant made by Seller
herein and every agreement and obligation on the part of Seller to be performed pursuant to the provisions hereof, and such representations,
warranties and covenants shall be deemed to merge into the documents delivered at Closing.

 

9.13            
Limited Liability. Purchaser agrees that it does not have and will not have any claims or causes of action against
any disclosed or undisclosed officer, director, employee, trustee, shareholder, partner, principal, parent, subsidiary or other
affiliate of Seller, or any officer, director, employee, trustee, shareholder, partner or principal of any such parent, subsidiary
or other affiliate (collectively, “Sellers’ Affiliates”), arising out of or in connection with this Agreement
or the transactions contemplated hereby. Purchaser agrees to look solely to Seller and its assets for the satisfaction of any liability
or obligation arising under this Agreement or the transactions contemplated hereby, or for the performance of any of the covenants,
warranties or other agreements contained herein, and further agrees not to sue or otherwise seek to enforce any personal obligation
against any of Sellers’ Affiliates with respect to any matters arising out of or in connection with this Agreement or the
transactions contemplated hereby. The provisions of this Section 9.13 shall survive the termination of this Agreement and
the Closing.

 

9.14            
No Third Party Rights. Nothing in this Agreement, express or implied, is intended to confer upon any person, other
than the parties hereto and their respective successors and assigns, any rights or remedies under or by reason of this Agreement.

 

9.15            
Further Assurances. Both Seller and Purchaser agree that it will without further consideration execute and deliver
such other documents and take such other action, whether prior or subsequent to Closing, as may be reasonably requested by the
other party to consummate more effectively the transactions contemplated hereby.

 

9.16            
Construction. The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement
and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of this Agreement or any exhibits or amendments hereto.

 

9.17            
Calculation of Time Periods. Unless otherwise specified, in computing any period of time described in this Agreement,
the day of the act or event after which the designated period of time begins to run is not to be included and the last day of the
period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday under the laws of the State of
Texas, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday or legal holiday.
The final day of any such period shall be deemed to end at 5 p.m., Dallas, Texas time.

 

9.18            
Applicable Law. THIS AGREEMENT IS PERFORMABLE IN DALLAS COUNTY, TEXAS, AND SHALL IN ALL RESPECTS BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE SUBSTANTIVE FEDERAL LAWS OF THE UNITED STATES AND THE LAWS OF THE STATE OF TEXAS. PURCHASER
HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT SITTING IN DALLAS COUNTY, TEXAS, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION
OR PROCEEDING SHALL BE HEARD AND DETERMINED IN A STATE OR FEDERAL COURT SITTING IN DALLAS COUNTY, TEXAS. IF EITHER PARTY SHALL
EMPLOY AN ATTORNEY TO ENFORCE OR DEFINE THE RIGHTS OF SUCH PARTY HEREUNDER, THE PREVAILING PARTY SHALL BE ENTITLED TO RECOVER FROM
THE NONPREVAILING PARTY ALL OF ITS REASONABLE EXPENSES, INCLUDING REASONABLE ATTORNEYS’ FEES. PURCHASER AND SELLER AGREE
THAT THE PROVISIONS OF THIS SECTION SHALL SURVIVE THE CLOSING OF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT.

 

    	PURCHASE AGREEMENT	Page 24	 

    	 

    
 

9.19            
Municipal Utility District Notices. Purchaser agrees that if the Property or any portion thereof is located in a
municipal utility district, Purchaser will, within five (5) days after request by Seller, execute any and all notices which, in
the opinion of counsel for Seller, are required by law to be given to Purchaser with respect to the Property.

 

9.20            
Exhibits and Schedules. The following schedules or exhibits attached hereto (herein sometimes being referred to as
“Exhibit”) shall be deemed to be an integral part of this Agreement:

 

Exhibit ALegal Description;

Exhibit BProperty Documents

Exhibit CSpecial Warranty Deed

Exhibit DBill of Sale

Exhibit EAssignment of Leases
and Security Deposits

Exhibit FAssignment and Assumption
of Intangible Property and Other Rights

Exhibit GTenant Notice Letters

Exhibit HFIRPTA Affidavit

Exhibit IAgreement Regarding
Disclaimers

Exhibit JForm of Tenant Estoppel

Schedule 5.1(i)Leasing Commission
Schedule

 

9.21            
Tender of Offer. Upon execution of this Agreement by Purchaser and delivery of same to Seller, this Agreement shall
constitute an offer which has been submitted by Purchaser to Seller for Seller’s approval. By executing this Agreement and
submitting same to Seller, Purchaser acknowledges and agrees as follows: (a) this Agreement may be approved or disapproved
by Seller in its sole and unfettered discretion, with Seller having the right to disapprove this Agreement for any reason whatsoever,
and (b) Seller’s approval of this Agreement shall be evidenced only by Seller’s execution of this Agreement and
delivery of a counterpart hereof executed by both Seller and Purchaser to the Title Company. Purchaser acknowledges that Purchaser
has not, will not and cannot rely upon any other statement or action of Seller or its representatives as evidence of Seller’s
approval of this Agreement.

 

9.22            
Like Kind Exchange. In the event that Seller elects to sell the Property as part of a like kind exchange pursuant
to Section 1031 of the Internal Revenue Code, Purchaser agrees to cooperate with Seller in connection therewith and to execute
and deliver all documents which reasonably may be required to effectuate such exchange as a qualified transaction pursuant to Section 1031
of the Code; provided that: (a) the Closing shall not be delayed; (b) Purchaser incurs no additional cost or liability
in connection with the like-kind exchange; (c) Seller pays all costs associated with the like-kind exchange; and (d) Purchaser
is not obligated to take title to any property other than the Property.

 

9.23            
Press Releases. All media releases, public announcements and public disclosures by Purchaser or Purchaser’s
Representatives shall be coordinated with and approved in writing by Seller prior to the release thereof. Except for any announcement
intended solely for internal distribution by Purchaser or any disclosure required by legal, accounting or regulatory requirements
beyond the reasonable control of Purchaser, all media releases, public announcements or public disclosures (including, but not
limited to, promotional or marketing material) by Purchaser or its employees or agents relating to this Agreement or its subject
matter, or including the name, trade name, trade mark, or symbol of Seller or any affiliate of Seller, shall be coordinated with
and approved in writing by Seller prior to the release thereof. Purchaser shall not represent directly or indirectly that any contract
or any service provided by Purchaser to Seller has been approved or endorsed by Seller or include the name, trade name, trade mark,
or symbol of Seller or any affiliate of Seller without Seller’s express written consent. The provisions of this Section 9.23
shall survive the Closing or any termination of this Agreement.

 

    	PURCHASE AGREEMENT	Page 25	 

    	 

    
 

9.24            
Attorney’s Fees Any party to this Agreement who is the prevailing party in any legal proceeding against the
other party brought under or with respect to this Agreement or transaction will be additionally entitled to recover court costs
and reasonable attorneys’ fees from the non-prevailing party.

 

9.25            
No Recording of Contract. Neither this Agreement nor any memorandum or short form hereof shall be recorded or filed
in any public land or other public records of any jurisdiction by Purchaser and any attempt to do so may be treated by Seller as
a default of this Agreement thereof entitling Seller to terminate this Agreement and retain the Earnest Money pursuant to Section
6.1 hereof. Notwithstanding any such termination under this Section 9.25, Purchaser shall be obligated to execute an instrument
in recordable form releasing this Agreement, and Purchaser’s obligations pursuant to this Section 9.25 shall survive
any termination of this Agreement as a surviving obligation.

 

9.26            
Effective Date. The “Effective Date” of this Agreement shall be the date the last of Purchaser and Seller
executes and delivers this Agreement to the other.

 

[SIGNATURES FOLLOW ON
NEXT PAGE]

 

    	PURCHASE AGREEMENT	Page 26	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the day and year first above written.

 

 

	 	SELLER:
	 	 
	Dated: __________	BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company

	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	PURCHASER:
	 	 
	Dated: __________	CARTER VALIDUS PROPERTIES, LLC,

    a Delaware limited liability company
	 	 
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

    	PURCHASE AGREEMENT	Page 27	 

    	 

    

 

ACKNOWLEDGMENT BY TITLE COMPANY

 

The Title Company hereby
acknowledges receipt of (a) a counterpart of this Agreement executed by Seller and Purchaser on the ___ day of _______________
2012, and (b) Earnest Money from Purchaser in the amount of ____________________ Dollars ($_______________) on the ___ day
of _______________ 2012.

 

	 		CHICAGO TITLE INSURANCE COMPANY
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    	PURCHASE AGREEMENT	Page 28	 

    	 

    

 

EXHIBIT
A

Legal Description

 

Being all of that certain tract of land
situated in the Martha McBride Survey, Abstract No. 553, Collin County, Texas, as described in deed to Premier Wholesale Club,
Inc., and recorded in Volume 2267, Page 438, Deed Records, Collin County, Texas, also being all of Lot 1, Block 1, AMWC/Coit Road
Warehouse Addition, an addition to the City of Plano, as recorded in Cabinet F, Page 621, Plat Records, Collin County, Texas, and
as shown by replat recorded in Cabinet G, Page 97, said Plat Records, and being more particularly described by metes and bounds
as follows:

 

BEGINNING at the Southwest corner of the
remainder of that certain tract of land as described in deed to J.D. Sims and Co. and recorded in Volume 1958, Page 462, of said
Deed Records also being on the north line of that certain tract of land as described in deed to Westwind Properties, Inc. and recorded
in Volume 1803, Page 534, of said Deed Records;

 

THENCE North 89 degrees 26 minutes 36 seconds
West, 554.28 feet along said northerly line to a one inch iron rod, found, being the northwesterly corner of said Westwind tract,
also being on the easterly right-of-way line of Commerce Street (a 60 foot wide public right-of-way);

 

THENCE North 00 degrees 54 minutes 00 seconds
East, 477.28 feet along said easterly right-of-way line to a one inch iron rod found, being the southwesterly corner of the remainder
of that certain tract of land as described in deed to Charles Gartner and recorded in Volume 1007, Page 184, of said Deed Records;

 

THENCE South 89 degrees 06 minutes 00 seconds
East, 800.00 feet along the southerly line of said Gartner tract to an “X” cut set in concrete being the southeasterly
corner of said Gartner tract, also being on the westerly right-of-way line of Coit Road (a 130’ right-of-way);

 

THENCE South 00 degrees 23 minutes 00 seconds
West, 212.48 feet along said westerly right-of-way line to an “X” cut found, being the northeasterly corner of the
aforementioned Sims tract;

 

THENCE North 89 degrees 06 minutes 00 seconds
West, 247.65 feet along the northerly line of said Sims tract to a one inch iron rod, found, being the northwesterly corner of
said Sims tract;

 

THENCE South 00 degrees 54 minutes 00 seconds
West, 261.49 feet along the westerly line of said Sims tract to the POINT OF BEGINNING and containing 316,036 square feet or 7.255
acres of land, more or less.

 

    	Exhibit A - Page 1

    	 

    

 

EXHIBIT
B

PRoperty DOCUMENTS

 

Seller shall deliver
the following Property Documents to Purchaser through a secure website or make available at the Property to the extent in Seller’s
possession:

 

1.                 
Copies of all Leases, including any and all modifications or amendments thereto.

 

2.                 
A rent roll for the Property for the month in which this Agreement is executed, or if not yet available, the most recently
available month, in the form customarily prepared for Seller by the current manager of the Property.

 

3.                 
Copies of all vendor and service contracts to which Seller is a party that are currently in effect with respect to the Property,
including, but not limited to, all agreements for the provision of janitorial, maintenance, trash removal, landscaping and security
services, to the extent in Seller’s possession.

 

4.                 
Copies of all leasing commission agreements with respect to the Property to which Seller is a party.

 

5.                 
Operating statements for the Property for the most recent twelve (12) months (or the period of Seller’s ownership
of the Property, if less) in the format customarily prepared for Seller by the current manager of the Property.

 

6.                 
An inventory of the Personal Property, if any, to be conveyed to Purchaser at Closing.

 

7.                 
Copies of the ad valorem and personal property tax statements covering the Property for the current tax year (if available)
and for the previous two (2) years (or the period of Seller’s ownership of the Property, if less).

 

8.                 
All Governmental licenses and permits issued to Seller with respect to the Property to the extent in Seller’s possession,
including specifically, without limitation, building permits, certificates of occupancy, and special or conditional use permits
in Seller’s possession.

 

9.                 
Plans and specifications for the Improvements, to the extent in Seller’s possession.

 

10.             
Copies of all guaranties and warranties covering the Property, to the extent in Seller’s possession.

 

11.             
Any current environmental reports prepared for Seller with respect to the Property which are in Seller’s possession.

  

    	Exhibit B - Page 1

    	 

    

 

EXHIBIT
C

SPECIAL WARRANTY DEED

 

	THE STATE OF TEXAS	§	 
	 	§	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF COLLIN	§	 

 

THAT BEHRINGER HARVARD
1221 COIT LP, a Texas limited partnership (hereinafter referred to as “Grantor”), for and in consideration of the sum
of Ten Dollars ($10.00) and other good and valuable consideration to it in hand paid by ____________________, a ____________________
(hereinafter referred to as “Grantee”), whose mailing address is ________________________________________, the receipt
and sufficiency of which consideration are hereby acknowledged, has GRANTED, BARGAINED, SOLD and CONVEYED, and by these presents
does hereby GRANT, BARGAIN, SELL and CONVEY, unto Grantee all of the real property situated in Collin County, Texas, described
on Exhibit A attached hereto and made a part hereof for all purposes, together with all and singular the rights, benefits,
privileges, easements, tenements, hereditaments and appurtenances thereon or in anywise appertaining thereto, and together with
all improvements situated thereon and any right, title and interest of Grantor in and to adjacent streets, alleys and rights-of-way
(said land, rights, benefits, privileges, easements, tenements, hereditaments, appurtenances, improvements and interests being
hereinafter referred to collectively as the “Property”).

 

This conveyance is
made subject to all presently recorded instruments which are valid and affect the Property as well as shortages in area, encroachments,
overlapping of improvements, and all matters affecting the Property which are visible or would be revealed by a survey thereof
(such matters being referred to herein as the “Permitted Exceptions”).

 

TO HAVE AND TO HOLD
the Property, subject to the Permitted Exceptions, as aforesaid, unto Grantee, its successors and assigns, forever; and Grantor
does hereby bind itself and its successors and assigns, to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee,
its successors and assigns, against every person whomsoever lawfully claiming or to claim the same, or any part thereof, except
as to the exceptions to conveyance and warranty contained herein, by, through or under Grantor, but not otherwise.

 

EXCEPT AS OTHERWISE
EXPRESSLY PROVIDED IN A WRITTEN INSTRUMENT SIGNED BY BOTH GRANTOR AND GRANTEE, GRANTOR HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY,
GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, OR CONCERNING (i) THE NATURE AND CONDITION
OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND GEOLOGY, AND THE SUITABILITY THEREOF AND OF THE PROPERTY FOR
ANY AND ALL ACTIVITIES AND USES WHICH GRANTEE MAY ELECT TO CONDUCT THEREON, AND THE EXISTENCE OF ANY ENVIRONMENTAL HAZARDS OR CONDITIONS
THEREON (INCLUDING THE PRESENCE OF ASBESTOS) OR COMPLIANCE WITH ANY OR ALL APPLICABLE LAWS, RULES OR REGULATIONS; (ii) THE
NATURE AND EXTENT OF ANY RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCE, LICENSE, RESERVATION, CONDITION OR OTHERWISE; AND
(iii) THE COMPLIANCE OF THE PROPERTY OR ITS OPERATION IN COMPLIANCE WITH ANY LAWS, ORDINANCES, ORDERS, RULES OR REGULATIONS
OF ANY GOVERNMENTAL OR QUASIGOVERNMENTAL AUTHORITY HAVING JURISDICTION OVER THE PROPERTY OR ANY PORTION THEREOF. GRANTEE ACKNOWLEDGES
THAT IT WILL INSPECT THE PROPERTY AND GRANTEE WILL RELY SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON ANY INFORMATION
PROVIDED OR TO BE PROVIDED BY GRANTOR. THE SALE OF THE PROPERTY IS MADE ON AN “AS IS,” “WHERE IS” BASIS
AND WITH ALL FAULTS, AND GRANTEE EXPRESSLY ACKNOWLEDGES THAT, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN A WRITTEN INSTRUMENT SIGNED
BY BOTH GRANTOR AND GRANTEE, GRANTOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING,
BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY, TENANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE,
IN RESPECT OF THE PROPERTY, except that the foregoing shall not be construed to negate the special warranty of title herein set
forth

 

    	Exhibit C - Page 1

    	 

    
 

By acceptance of this
Special Warranty Deed, Grantee assumes payment of all property taxes on the Property for the year _____ and subsequent years.

 

REMAINDER OF PAGE INTENTIONALLY BLANK.

SIGNATURE PAGE FOLLOWS.

 

    	Exhibit C - Page 2

    	 

    

 

IN WITNESS WHEREOF,
this Special Warranty Deed has been executed by Grantor to be effective as of the ___ day of _______________ 20__.

 

 

	 	GRANTOR:
	 	 
	Dated: __________	BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	THE STATE OF TEXAS	§	 
	 	§	 
	COUNTY OF DALLAS	§	 

 

This instrument was
acknowledged before me on the ___ day of _______________ 20__, by ____________________, ____________________ of Behringer Harvard
1221 Coit GP, LLC, a Texas limited liability company, general partner of Behringer Harvard 1221 Coit LP, a Texas limited partnership,
on behalf of said limited partnership.

 

	 	 	 	 
	 	 	 	Notary Public, State of Texas
	 	 	 	 
	 	 	 	Printed Name of Notary Public

 

[SEAL]

 

    	Exhibit C - Page 3

    	 

    

 

EXHIBIT A

to Special Warranty Deed

LEGAL DESCRIPTION

 

[Legal description to be inserted]

 

    	Exhibit C - Page 4

    	 

    

 

EXHIBIT
D

BILL OF SALE

 

Seller, BEHRINGER HARVARD
1221 COIT LP, a Texas limited partnership (“Seller”), having its principal place of business at Dallas, Texas, in consideration
of Ten Dollars ($10.00), receipt of which is hereby acknowledged, does hereby sell, assign, transfer and set over to ____________________,
a ____________________ (“Purchaser”), the following described personal property, to-wit:

 

All of the furniture, fixtures,
equipment, machines, apparatus, supplies and personal property, of every nature and description, and all replacements thereof now
owned by Seller and located in or on the real estate described on Exhibit A attached hereto and made a part hereof,
excepting therefrom any furniture, furnishings, fixtures, business equipment or articles of personal property belonging to tenants
occupying the improvements situated on said real estate, or otherwise excluded pursuant to Tenant Estoppel Certificates executed
by such tenants in connection with the sale and purchase of the real property and improvements thereon described in that certain
Purchase Agreement between Seller and Purchaser dated _______________, 20__.

 

SELLER MAKES NO WARRANTY
OF MERCHANTABILITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE IN RESPECT OF THE FOREGOING PROPERTY, AND THE SAME IS SOLD IN “AS
IS, WHERE IS” CONDITION, WITH ALL FAULTS. BY EXECUTION OF THIS BILL OF SALE, PURCHASER AFFIRMS THAT IT HAS NOT RELIED ON
SELLER’S SKILL OR JUDGMENT TO SELECT OR FURNISH THE FOREGOING PROPERTY FOR ANY PARTICULAR PURPOSE, THAT SELLER MAKES NO WARRANTY
OF MERCHANTABILITY, QUALITY, OR FITNESS FOR ANY PARTICULAR PURPOSE, AND THAT THE FOREGOING PROPERTY IS BEING SOLD TO PURCHASER
WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY.

 

IN WITNESS WHEREOF,
Seller has caused this Bill of Sale to be signed and sealed in its name by its officers thereunto duly authorized this ___ day
of _______________ 20__.

 

	 	SELLER:
	 	 
		BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited liability company
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

  

    	Exhibit D - Page 5

    	 

    

 

EXHIBIT A

to Bill of Sale

LEGAL DESCRIPTION

 

[Legal description to be inserted]

 

    	Exhibit D - Page 6

    	 

    

 

EXHIBIT
E

ASSIGNMENT OF LEASES AND SECURITY DEPOSITS

 

	THE STATE OF TEXAS	§	 
	 	§	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF COLLIN	§	 

 

BEHRINGER HARVARD 1221
COIT LP, a Texas limited partnership (“Assignor”), in consideration of the sum of Ten Dollars ($10.00) in hand paid
and other good and valuable consideration, the receipt of which is hereby acknowledged, hereby assigns, transfers, sets over and
conveys to ____________________, a ____________________ (“Assignee”), all of Assignor’s right, title and interest
in and to all leases, including any and all security deposits made by tenants pursuant to said leases, in effect at the real property
in Collin County, Texas, more particularly described on Exhibit A attached hereto (“Existing Leases”);
provided, however, that Assignor reserves and retains for itself any and all claims and causes of action that have accrued to Assignor
under Existing Leases prior to the effective date of this Assignment of Leases and Security Deposits.

 

IN WITNESS WHEREOF,
Assignor has executed this Assignment to be effective as of the ___ day of _______________ 20__.

 

	 	ASSIGNOR:
	 	 
		BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    	Exhibit E - Page 1

    	 

    

 

	THE STATE OF TEXAS	§	 
	 	§	 
	COUNTY OF DALLAS	§	 

 

This instrument was
acknowledged before me on the ___ day of _______________ 20__, by ____________________, ____________________ of Behringer Harvard
1221 Coit LP, a Texas limited partnership, on behalf of said limited partnership.

 

	 	 	 	 
	 	 	 	Notary Public

 

    	Exhibit E - Page 2

    	 

    

 

ACCEPTANCE

 

Assignee hereby accepts
the foregoing Assignment of Leases and Security Deposits and agrees to assume, fulfill, perform and discharge all the various commitments,
obligations and liabilities of Assignor under and by virtue of the Existing Leases hereby assigned, which arise on or after the
effective date hereof, including the return of security deposits, and does hereby agree to defend, indemnify and hold harmless
Assignor from any liability, damages, causes of action, expenses and attorneys’ fees incurred by Assignor by reason of the
failure of Assignee from and after the effective date hereof to fulfill, perform and discharge all of the various commitments,
obligations and liabilities of Assignor under and by virtue of the Existing Leases assigned hereunder, including the return of
security deposits, which arise on or after the effective date hereof.

 

IN WITNESS WHEREOF,
this Acceptance has been executed to be effective as of the ___ day of _______________ 20__.

 

	 	 
	 	 
	 	ASIGNEE:
	 	____________________,
 a __________ __________

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	THE STATE OF __________	§	 
	 	§	 
	COUNTY OF __________	§	 

 

This instrument was
acknowledged before me on the ___ day of _______________ 20__, by ____________________, ____________________ of ____________________,
a ____________________, on behalf of said ____________________.

 

	 	 	 	 
	 	 	 	Notary Public

 

    	Exhibit E - Page 3

    	 

    

 

EXHIBIT A

to Assignment of Leases and Security Deposits

LEGAL DESCRIPTION

 

[Property description to be inserted]

 

    	Exhibit E - Page 4

    	 

    

 

EXHIBIT
F

ASSIGNMENT AND ASSUMPTION OF INTANGIBLE PROPERTY

AND OTHER RIGHTS

 

	THE STATE OF TEXAS	§	 
	 	§	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF COLLIN	§	 

 

FOR VALUE RECEIVED,
BEHRINGER HARVARD 1221 COIT LP, a Texas limited partnership (“Assignor”), hereby conveys, assigns, transfers, and sets
over unto ____________________, a ____________________ (“Assignee”), all the right, title and interest of Assignor
in and to any and all intangible property owned by Assignor and used in connection with the real estate described on Exhibit A
attached hereto and made a part hereof, and the buildings and improvements located thereon (“Property”), including
without limitation, the right, if any, to use the name “____________________ Office Building” (specifically excluding,
however the name “Behringer Harvard,” any derivative thereof or any name which includes the name “Behringer Harvard”
or any derivative thereof), all plans and specifications in the possession of Assignor which were prepared in connection with any
of the Property, all assignable licenses, permits and warranties now in effect with respect to the Property, all assignable written
contracts and commitments, if any, described on Exhibit B attached hereto and made a part hereof, all assignable equipment
leases and all rights of Assignor thereunder relating to equipment located on the Property which will survive the closing hereunder,
but excluding cash on hand and in bank and escrow accounts, and further excluding any furniture, furnishings, fixtures, business
equipment or articles of personal property belonging to tenants occupying the Property or otherwise excluded pursuant to Tenant
Estoppel Certificates executed by such tenants in accordance with that certain Purchase Agreement between Assignor, as seller,
and Assignee, as purchaser, dated _______________, 20__, for the sale and purchase of the Property.

 

This Assignment shall
be binding upon and shall inure to the benefit of Assignor, Assignee and their respective successors and assigns.

 

REMAINDER OF PAGE INTENTIONALLY BLANK.

SIGNATURE PAGE(S) FOLLOWS.

 

    	Exhibit F - Page 1

    	 

    

 

IN WITNESS WHEREOF,
Assignor has executed this Assignment and Assumption of Intangible Property and Other Rights to be effective as of the ___ day
of _______________ 20__.

 

	 	ASSIGNOR:
	 	 
		BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

   

    	Exhibit F - Page 2

    	 

    

 

ACCEPTANCE

 

Assignee hereby accepts
the foregoing Assignment and Assumption of Intangible Property and Other Rights and agrees to become responsible for and assume,
fulfill, perform, discharge and observe all obligations, covenants, conditions and provisions accruing or arising or required from
and after the date hereof with respect to the above-described property, and does hereby agree to defend, indemnify and hold harmless
Assignor from any liability, damages, causes of action, expenses and attorneys’ fees incurred by Assignor by reason of the
failure of the undersigned from and after the date hereof to fulfill, perform, discharge and observe all of the various obligations,
covenants, conditions and provisions with respect to the above-described property.

 

IN WITNESS WHEREOF,
this Acceptance has been executed by Assignee to be effective as of the ___ day of _______________ 20__.

 

	 	 
	 	 
	 	ASIGNEE:
	 	____________________,
 a __________ __________

 

	 	By:	 
	 	Name:	 
	 	Title:	 

  

    	Exhibit F - Page 3

    	 

    

 

EXHIBIT A

to Assignment and Assumption of Intangible Property and Other Rights

LEGAL DESCRIPTION

 

[Property description to be inserted]

 

    	Exhibit F - Page 4

    	 

    

 

EXHIBIT B

to Assignment and Assumption of Intangible Property and Other Rights

SERVICE CONTRACTS

 

[List of Service Contracts to be inserted]

 

    	Exhibit F - Page 5

    	 

    

 

EXHIBIT
G

Notice of Purchase and Lease Assignment to Tenants

 

_______________, 20___

 

[Name and Address of Tenant]

Re: Sale of ____________________

Gentlemen:

 

Please be advised that
____________________ (“Purchaser”) has purchased the captioned property, in which you occupy space as a tenant pursuant
to a lease dated _______________, 20___ (the “Lease”), from BEHRINGER HARVARD _____________ (“Behringer Harvard”),
the previous owner thereof. In connection with such purchase, Behringer Harvard has assigned its interest as landlord in the Lease
to Purchaser and has transferred your security deposit in the amount of $_______________ (the “Security Deposit”) to
Purchaser. Purchaser specifically acknowledges the receipt of and responsibility for the Security Deposit, the intent of Purchaser
and Behringer Harvard being to relieve Behringer Harvard of any liability for the return of the Security Deposit.

 

All rental and other
payments that become due subsequent to the date hereof should be payable to ____________________ and should be addressed as follows:

 

____________________

____________________

____________________

 

In addition, all notices
from you to the landlord concerning any matter relating to your tenancy should be sent to ____________________ at the address above.

 

	 	Very truly yours,
	 	
	 	____________________,
 a __________ __________

 

	 	By:	 
	 	Name:	 
	 	Title:	 

   

    	Exhibit G - Page 1

    	 

    

 

	 	TRANSFER ACKNOWLEDGED:
	 	 
		BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

    

    	Exhibit G - Page 2

    	 

    

 

EXHIBIT
H

FIRPTA AFFIDAVIT

 

 

	THE STATE OF TEXAS	§	 
	 	§	 
	COUNTY OF DALLAS	§	 

 

Section 1445 of
the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a
foreign person. To inform ____________________, a __________ __________ (“Transferee”), that withholding of tax is
not required upon the disposition of a U.S. real property interest by BEHRINGER HARVARD 1221 COIT LP, a Texas limited partnership
(“Transferor”), the undersigned hereby certifies as follows:

 

1.                 
Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined
in the Internal Revenue Code and Income Tax Regulations);

 

2.                 
Transferor’s U.S. employer identification number is: #____________________;

 

3.                 
Transferor’s office address is 15601 Dallas Parkway, Suite 600, Addison, Texas 75001.

 

Transferor understands
that this certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement contained
herein could be punished by fine, imprisonment, or both.

 

Under penalties of
perjury, the undersigned, in the capacity set forth below, hereby declares that he has examined this certification and to the best
of his knowledge and belief it is true, correct, and complete, and the undersigned further declares that he has authority to sign
this document in such capacity.

 

    	Exhibit H - Page 1

    	 

    
 

EXECUTED to be effective
as of the ___ day of _______________ 20__.

 

	 	TRANSFEROR:
	 	 
		BEHRINGER HARVARD 1221 COIT LP,

        a Texas limited partnership
	 	 
	 	By: 	Behringer Harvard
        1221 Coit GP, LLC,

a Texas limited liability company
	 	 	
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

  

SWORN TO AND SUBSCRIBED
BEFORE ME this ___ day of _______________ 20__.

 

 

	 	 	 	 
	 	 	 	Notary Public

 

    	Exhibit H - Page 2

    	 

    

 

EXHIBIT
I

AGREEMENT REGARDING DISCLAIMERS

 

This Agreement Regarding
Disclaimers (this “Agreement”) is made to be effective as of the ___ day of _______________ 20__, by ____________________,
a __________ __________ (“Purchaser”), for the benefit of BEHRINGER HARVARD 1221 COIT LP, a Texas limited partnership
(“Seller”).

 

RECITALS

 

A.Seller and Purchaser
executed that certain Purchase Agreement (herein so called) dated to be effective as of the ___ day of _______________ 20___, regarding
the sale and purchase of certain property more specifically described therein (the “Property”).

 

B.The Purchase
Agreement requires that at Closing (as defined in the Purchase Agreement) Purchaser and its counsel shall execute this Agreement;

 

NOW THEREFORE, Purchaser
does hereby confirm and agree as follows:

 

1.                 
No Reliance. Purchaser acknowledges and agrees that Purchaser has had ample opportunity to review documents concerning
the Property and to conduct physical inspections of the Property, including specifically, without limitation, inspections regarding
the environmental condition of the Property, the structural condition of the Property, and the compliance of the Property with
the Americans with Disabilities Act of 1990, 42 U.S.C. §12101 et seq. Purchaser hereby represents, warrants and agrees
that (a) Purchaser has examined the Property and is familiar with the physical condition thereof and has conducted such investigations
of the Property (including without limitation the environmental condition thereof) as Purchaser has deemed necessary to satisfy
itself as to the condition of the Property and the existence or nonexistence, or curative action to be taken with respect to, any
hazardous or toxic substances on or discharged from the Property, (b) except as expressly set forth in Section 5.1 of
the Purchase Agreement, neither Seller nor Broker (as defined in the Purchase Agreement), nor any affiliate, agent, officer, employee
or representative of any of the foregoing has made any verbal or written representations, warranties, promises or guarantees whatsoever
to Purchaser, express or implied, and in particular, that no such representations, warranties, guarantees or promises have been
made with respect to the physical condition, operation, or any other matter or thing affecting or related to the Property or the
offering or sale of the Property, and (c) Purchaser has not relied upon any representations, warranties, guarantees or promises
or upon any statements made or any information provided concerning the Property provided or made by Seller or Broker, or their
respective agents and representatives, and Purchaser has elected to purchase the Property after having made and relied solely on
its own independent investigation, inspection, analysis, appraisal and evaluation of the Property and the facts and circumstances
related thereto. Without limiting the generality of the foregoing, Purchaser acknowledges and agrees that neither Seller nor Broker
has any obligation to disclose to Purchaser, and shall have no liability for its failure to disclose to Purchaser, any information
known to it relating to the Property. Purchaser acknowledges and agrees that all materials, data and information delivered to Purchaser
by or through Seller or Broker in connection with the transaction contemplated herein have been provided to Purchaser as a convenience
only and that any reliance on or use of such materials, data or information by Purchaser shall be at the sole risk of Purchaser.

 

    	Exhibit I - Page 1

    	 

    
 

2.                 
Disclaimers. PURCHASER ACKNOWLEDGES AND AGREES THAT THE PROPERTY HAS BEEN SOLD AND CONVEYED TO PURCHASER AND PURCHASER
HAS ACCEPTED THE PROPERTY “AS IS, WHERE IS, WITH ALL FAULTS.” EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES SET FORTH
IN SECTION 5.1 OF THE PURCHASE AGREEMENT AND THE LIMITED WARRANTY OF TITLE EXPRESSLY SET FORTH IN THE DEED FROM SELLER TO
PURCHASER, SELLER HEREBY EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED,
WITH RESPECT TO THE PROPERTY. WITHOUT LIMITING THE GENERALITY OF THE PRECEDING SENTENCE OR ANY OTHER DISCLAIMER SET FORTH HEREIN,
SELLER AND PURCHASER HEREBY AGREE THAT SELLER HAS NOT MADE AND IS NOT MAKING ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED,
WRITTEN OR ORAL, AS TO (A) THE NATURE OR CONDITION, PHYSICAL OR OTHERWISE, OF THE PROPERTY OR ANY ASPECT THEREOF, INCLUDING,
WITHOUT LIMITATION, ANY WARRANTIES OF HABITABILITY, SUITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE, (B) THE
NATURE OR QUALITY OF CONSTRUCTION, STRUCTURAL DESIGN OR ENGINEERING OF THE IMPROVEMENTS OR THE STATE OF REPAIR OR LACK OF REPAIR
OF ANY OF THE IMPROVEMENTS, (C) THE QUALITY OF THE LABOR OR MATERIALS INCLUDED IN THE IMPROVEMENTS, (D) THE SOIL CONDITIONS,
DRAINAGE CONDITIONS, TOPOGRAPHICAL FEATURES, ACCESS TO PUBLIC RIGHTS-OF-WAY, AVAILABILITY OF UTILITIES OR OTHER CONDITIONS OR CIRCUMSTANCES
WHICH AFFECT OR MAY AFFECT THE PROPERTY OR ANY USE TO WHICH PURCHASER MAY PUT THE PROPERTY, (E) ANY CONDITIONS AT OR WHICH
AFFECT OR MAY AFFECT THE PROPERTY WITH RESPECT TO ANY PARTICULAR PURPOSE, USE, DEVELOPMENT POTENTIAL OR OTHERWISE, (F) THE
AREA, SIZE, SHAPE, CONFIGURATION, LOCATION, CAPACITY, QUANTITY, QUALITY, CASH FLOW, EXPENSES, VALUE, MAKE, MODEL, COMPOSITION,
AUTHENTICITY OR AMOUNT OF THE PROPERTY OR ANY PART THEREOF, (G) EXCEPT FOR THE LIMITED WARRANTY OF TITLE EXPRESSLY SET FORTH
IN THE DEED, THE NATURE OR EXTENT OF TITLE TO THE PROPERTY, OR ANY EASEMENT, RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCE,
LICENSE, RESERVATION, CONTRACT, CONDITION OR OTHERWISE THAT MAY AFFECT TITLE TO THE PROPERTY, (H) ANY ENVIRONMENTAL, GEOLOGICAL,
METEOROLOGICAL, STRUCTURAL, OR OTHER CONDITION OR HAZARD OR THE ABSENCE THEREOF HERETOFORE, NOW OR HEREAFTER AFFECTING IN ANY MANNER
THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE ABSENCE OF ASBESTOS OR ANY ENVIRONMENTALLY HAZARDOUS SUBSTANCE ON, IN, UNDER OR
ADJACENT TO THE PROPERTY, (I) THE COMPLIANCE OF THE PROPERTY OR THE OPERATION OR USE OF THE PROPERTY WITH ANY APPLICABLE RESTRICTIVE
COVENANTS, OR WITH ANY LAWS, ORDINANCES OR REGULATIONS OF ANY GOVERNMENTAL BODY (INCLUDING SPECIFICALLY, WITHOUT LIMITATION, ANY
ZONING LAWS OR REGULATIONS, ANY BUILDING CODES, ANY ENVIRONMENTAL LAWS, AND THE AMERICANS WITH DISABILITIES ACT OF 1990, 42 U.S.C.
12101 ET SEQ. UPON CLOSING, PURCHASER SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, VIOLATIONS
OF ANY APPLICABLE LAWS, CONSTRUCTION DEFECTS, AND ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY
PURCHASER’S INVESTIGATIONS, AND PURCHASER, UPON CLOSING, SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED SELLER
FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION (INCLUDING CAUSES OF ACTION IN TORT), LOSSES, DAMAGES, LIABILITIES,
COSTS AND EXPENSES (INCLUDING ATTORNEYS’ FEES AND COURT COSTS) OF ANY AND EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, WHICH
PURCHASER MIGHT HAVE ASSERTED OR ALLEGED AGAINST SELLER AT ANY TIME BY REASON OF OR ARISING OUT OF ANY VIOLATIONS OF ANY APPLICABLE
LAWS (INCLUDING ANY ENVIRONMENTAL LAWS), CONSTRUCTION DEFECTS, PHYSICAL CONDITIONS, AND ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS,
CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTY. PURCHASER AGREES THAT SHOULD ANY WORK BE REQUIRED TO PUT THE PROPERTY IN COMPLIANCE
WITH ANY APPLICABLE LAWS, OR SHOULD ANY CLEANUP, REMEDIATION OR REMOVAL OF HAZARDOUS SUBSTANCES OR OTHER ENVIRONMENTAL CONDITIONS
ON THE PROPERTY BE REQUIRED AFTER THE DATE OF CLOSING, SUCH WORK, CLEAN-UP, REMOVAL OR REMEDIATION SHALL BE THE RESPONSIBILITY
OF AND SHALL BE PERFORMED AT THE SOLE COST AND EXPENSE OF PURCHASER.

 

    	Exhibit I - Page 2

    	 

    
 

3.                 
DTPA Waiver. Purchaser acknowledges and agrees, on its own behalf and on behalf of its assigns and successors, that
the Texas Deceptive Trade Practices — Consumer Protection Act, Subchapter E of Chapter 17 of the Texas Business
and Commerce Code (the “DTPA”), is not applicable to this transaction. Accordingly, Purchaser’s rights and remedies
with respect to this transaction, and with respect to all acts or practices of the other, past, present or future, in connection
with this transaction, shall be governed by legal principles other than the DTPA. In furtherance of the foregoing, Seller and Purchaser
agree as follows:

 

(a)               
Purchaser represents that it is a business consumer and that it is acquiring the Property for commercial or business use.
Purchaser further represents that it has knowledge and experience in financial and business matters that enable it to evaluate
the merits and risks of the business transaction that is the subject of the Purchase Agreement (including the acquisition of the
Property). Purchaser also represents that it is not in a significantly disparate bargaining position in relation to Seller.

 

(b)              
Purchaser represents that it has been represented by legal counsel in seeking or acquiring the Property and that the transaction
contemplated by the Purchase Agreement does not involve the purchase or lease of a family residence occupied or to be occupied
as the residence of Purchaser. Concurrently with the execution of this Agreement, Purchaser shall cause its legal counsel to sign
a copy of this Agreement in the space provided below for the purpose of complying with Section 17.42(a)(3) of the DTPA.

 

(c)               
Purchaser agrees, on its own behalf and on behalf of its assigns and successors, that all of its rights and remedies under
the DTPA are WAIVED AND RELEASED, including specifically, without limitation, all rights and remedies resulting from or arising
out of any and all acts or practices of Seller in connection with the business transaction that is the subject of the Purchase
Agreement (including the acquisition of the Property) whether such acts or practices occur before or after the execution of this
Agreement; provided, however, notwithstanding anything to the contrary herein, in accordance with Section 17.42 of the DTPA,
Purchaser does not waive Section 17.555 of the DTPA.

 

4.                 
Survival of Disclaimers. Seller and Purchaser agree that the provisions of this Agreement shall survive Closing.

 

    	Exhibit I - Page 3

    	 

    
 

	 	PURCHASER:
	 	 
	 	____________________,
 a __________ __________

 

	 	By:	 
	 	Name:	 
	 	Title:	 

  

    	Exhibit I - Page 4

    	 

    

 

EXHIBIT
J

TENANT ESTOPPEL CERTIFICATE

 

To:

 

		Re:	Property Address: ____________________

Lease Date: _______________, 20___

Between ____________________, Landlord

and ____________________, Tenant

Square Footage Leased: __________

Suite No. __________

Floor __________

 

The undersigned Tenant under
the above-referenced lease (“Lease”) certifies to ____________________ the following:

 

(1)              
The above-described lease has not been canceled, modified, assigned, extended or amended except at follows: ____________________.

 

(2)              
Rent has been paid to the first day of the current month and all additional rent has been paid and collected in a current
manner. There is no prepaid rent, except $_______________ and the amount of security deposit is $_______________.

 

(3)              
We took possession of the leased premises on _______________, 20___, and commenced to pay rent on _______________, 20___.
Rent is currently payable in the amount of $_______________ monthly.

 

(4)              
The Lease terminates on _______________, 20___, and we have the following renewal option(s): ____________________.

 

(5)              
We have received payment from Landlord for all construction allowances, tenant improvement allowances and other concessions
pursuant to the Lease, if applicable.

 

(6)              
All work to be performed for us under the Lease has been performed as required and has been accepted by us, except ____________________.

 

(7)              
The Lease is: (a) in full force and effect; (b) free from default; and (c) we have no claims against the
Landlord or offsets against rent.

 

(8)              
The undersigned has received no notice of prior sale, transfer or assignment, hypothecation or pledge of the said Lease
or of the rents received therein, except ____________________.

 

(9)              
The undersigned has not assigned or sublet the said Lease nor does the undersigned hold the premises under assignment or
sublease, except ____________________.

 

    	Exhibit J - Page 5

    	 

    
 

(10)          
The base year for operating expenses and real estate taxes, as defined in the said lease is __________.

 

(11)          
The undersigned has no other interest in any other part of the building of which the premises form a part or to any personal
property appurtenant thereto or used in connection therewith except ____________________.

 

(12)          
The undersigned has no right or option pursuant to the said lease or otherwise to purchase all or any part of the leased
premises or the building of which the leased premises are a part.

 

(13)          
There are no other agreements written or oral between the undersigned and the Landlord with respect to the Lease and/or
the leased premises and building.

 

(14)          
The statements contained herein may be relied upon by the Landlord under the said Lease and by any prospective purchaser
of the fee of the premises.

 

If we are a corporation,
the undersigned is a duly appointed officer of the corporation signing this certificate and is the incumbent in the office indicated
under his name.

 

In any event, the undersigned
individual is duly authorized to execute this certificate.

 

Dated this ___ day
of _______________ 20___.

 

	 	TENANT:
	 	 
	 	____________________,
 a __________ __________

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	Exhibit J - Page 6

    	 

    

 

SCHEDUle
5.1(I)

lEASING cOMMISSION sCHEDULE

 

none

 

    	Schedule 5.1(i) - Page 1

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