Document:

Exhibit

Exhibit 10.5

Execution Version

SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT
THIS SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of August 7, 2019 (the “Amendment Effective Date”), is made by and among Apollo Endosurgery, Inc., a Delaware corporation (“Parent”), Apollo Endosurgery US, Inc., a Delaware corporation (“Apollo Endo”), Apollo Endosurgery International LLC, a Delaware limited liability company (“Apollo International”), Lpath Therapeutics Inc., a Delaware corporation (“Lpath”; together with Parent, Apollo Endo and Apollo International, individually and collectively, jointly and severally, “Borrower”), Solar Capital Ltd., a Maryland corporation (“Solar”), in its capacity as collateral agent (in such capacity, together with its successors and assigns in such capacity, “Collateral Agent”) and the Lenders listed on Schedule 1.1 of the Loan and Security Agreement (as defined below) or otherwise a party hereto from time to time including Solar in its capacity as a Lender (each a “Lender” and collectively, the “Lenders”).
The Borrower, the Lenders and Collateral Agent are parties to a Loan and Security Agreement dated as of March 15, 2019 (as amended by that certain First Amendment to Loan and Security Agreement, dated as of June 20, 2019, and as further amended, restated, modified or supplemented from time to time, the “Loan and Security Agreement”).  The Borrower has requested that the Lenders agree to certain amendments to the Loan and Security Agreement.  The Lenders have agreed to such request, subject to the terms and conditions hereof.
Accordingly, the parties hereto agree as follows:
		
	SECTION 1
	Definitions; Interpretation.

(a)Terms Defined in Loan and Security Agreement.  All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan and Security Agreement.
(b)Interpretation.  The rules of interpretation set forth in Section 1.1 of the Loan and Security Agreement shall be applicable to this Amendment and are incorporated herein by this reference.
SECTION 2Amendments to the Loan and Security Agreement.
(a)The Loan and Security Agreement shall be amended as follows effective as of the Amendment Effective Date: 
(i)Section 1.1 is hereby amended by adding the following sentence to the end thereof:
For the avoidance of doubt, and without limitation of the foregoing, Permitted Convertible Debt shall at all times be valued at the full stated principle amount thereof and shall not include any reduction or appreciation in value of the shares deliverable upon conversion thereof.
(ii)New Definitions.  The following definitions are added to Section 1.4 in their respective alphabetical order:
“Second Amendment” means that certain Second Amendment to Loan and Security Agreement, dated as of the Second Amendment Effective Date, by and among Borrowers, Collateral Agent and the Lenders party thereto.
“Second Amendment Effective Date” means August 7, 2019.
(iii)The definition of “Permitted Indebtedness” is hereby amended by amending and restating clause (c) thereof in its entirety as follows:
(c)    Subordinated Debt and the Permitted Convertible Debt;

(iv)The following definitions are added to Section 1.3 in their proper alphabetical order: 
“Permitted Convertible Debt” means those certain 6.00% Convertible Senior Debentures due 2024 (collectively, the “Convertible Debentures”), issued pursuant to that certain Securities Purchase Agreement, dated as of August 7, 2019, between Parent and the purchasers party thereto, in an aggregate principal amount of up to $20,000,000, plus any amounts paid-in-kind pursuant to the terms thereof, in each case as in effect on the Second Amendment Effective Date without any amendment, modification, restatement or refinancing thereof without the written consent of Collateral Agent. 
(v)Section 6.2(a) is hereby amended by amending and restating clause (v) thereof in its entirety as follows: 
(v)    within five (5) days of delivery, copies of all non-ministerial statements, reports and notices made available to any Loan Party’s security holders or holders of Subordinated Debt and/or Permitted Convertible Debt (other than materials provided to members of the such Loan Party’s board of directors solely in their capacities as security holder or holders of Subordinated Debt and/or Permitted Convertible Debt);
(vi)Section 7.7 is hereby amended by adding the following section to the end thereof:
Notwithstanding the foregoing, and for the avoidance of doubt, this Section 7.7 shall not prohibit (i) the conversion by holders of (including any cash in lieu of fractional shares), the forced conversion of, or the required payment of any principal or premium on, or required payment of any interest (whether in shares of Common Stock or paid-in-kind) with respect to any Permitted Convertible Debt, in each case, in accordance with the terms of the debentures governing such Permitted Convertible Debt.
(vii)Section 8.6 is hereby amended and restated in its entirety as follows: 
Other Agreements.  There is a default (i) in any agreement to which any Loan Party or any of its Subsidiaries is a party with a third party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Five Hundred Thousand Dollars ($500,000.00) or that could reasonably be expected to have a Material Adverse Change and (ii) that would lead to an Event of Default (as defined in the Convertible Debentures) under the Permitted Convertible Debt that is not cured within eight (8) Business Days of (x) the occurrence of such default, if no notice from the holders thereof to the Parent is required before such default results in an Event of Default (as defined in the Convertible Debentures) or (y) the date of any notice from holders thereof, if notice from the holders thereof to the Parent is required before such default results in an Event of Default (as defined in the Convertible Debentures); for the avoidance of doubt, the exchange, repurchase, conversion or settlement with respect to any Permitted Convertible Debt, or satisfaction of any condition giving rise to or permitting the foregoing, pursuant to their terms that does not result from a default thereunder or an event of the type that constitutes an Event of Default, in each case, shall not constitute an Event of Default under this Section 8.6.
(viii)Article 8 is hereby amended by adding the following Section 8.14 at the end thereof:
Delisting.  The Common Stock (as defined in the Convertible Debentures) of Parent shall not be eligible for listing or quotation for trading on a Trading Market (as defined in the Convertible Debentures) and shall not be eligible to resume listing or quotation for trading thereon within five (5) Trading Days (as defined in the Convertible Debentures) unless an extension has been granted by the requisite holders of the Convertible Debentures during such five (5) Trading Day period, in which chase the date of extension shall apply in lieu of five (5) Trading Days.
(b)References Within Loan and Security Agreement.  Each reference in the Loan and Security Agreement to “this Agreement” and the words “hereof,” “herein,” “hereunder,” or words of like import, shall mean and be a reference to the Loan and Security Agreement as amended by this Amendment.

2

SECTION 3Consent to Share Exchange.  Notwithstanding anything to the contrary contained in Section 7.7 of the Loan Agreement, Collateral Agent hereby consents to Parent redeeming, repurchasing or otherwise retiring up to 1,000,000 shares of common stock of Parent beneficially owned by a certain stockholder or its affiliates solely in exchange for pre-funded warrants with a nominal exercise price issued to such stockholder or its affiliates (the “Exchange”). For the avoidance of doubt, no cash consideration shall be paid or payable by the Borrower in connection with the Exchange.
SECTION 4Conditions of Effectiveness.  The effectiveness of Section 2 of this Amendment shall be subject to the satisfaction of each of the following conditions precedent:
(a)Fees and Expenses.  The Borrower shall have paid (i) all invoiced costs and expenses then due to the extent invoiced on or prior to the Amendment Effective Date, and (ii) all other fees, costs and expenses, if any, due and payable as of the Amendment Effective Date under the Loan and Security Agreement. 
(b)This Amendment.  Collateral Agent shall have received this Amendment, executed by the Borrower.
(c)Officer’s Certificate.  Collateral Agent shall have received a certificate of an officer of each Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Amendment, in form acceptable to Collateral Agent and the Lenders.
(d)Representations and Warranties; No Default.  On the Amendment Effective Date, after giving effect to the amendment of the Loan and Security Agreement contemplated hereby:
(i)The representations and warranties contained in Section 5 shall be true and correct on and as of the Amendment Effective Date as though made on and as of such date; and
(ii)There exist no Events of Default or events that with the passage of time would result in an Event of Default.
SECTION 5Representations and Warranties.  To induce the Lenders to enter into this Amendment, the Borrower hereby confirms, as of the date hereof, (a) that the representations and warranties made by it in Section 5 of the Loan and Security Agreement and in the other Loan Documents are true and correct in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (b) that there has not been and there does not exist a Material Adverse Change; and (c) that the information included in the Perfection Certificate delivered to Collateral Agent on the Effective Date remains true and correct.  For the purposes of this Section 4, (i) each reference in Section 5 of the Loan and Security Agreement to “this Agreement,” and the words “hereof,” “herein,” “hereunder,” or words of like import in such Section, shall mean and be a reference to the Loan and Security Agreement as amended by this Amendment, and (ii) any representations and warranties which relate solely to an earlier date shall not be deemed confirmed and restated as of the date hereof (provided that such representations and warranties shall be true, correct and complete in all material respects as of such earlier date).
SECTION 6Miscellaneous.
(a)Loan Documents Otherwise Not Affected; Reaffirmation.  Except as expressly amended pursuant hereto or referenced herein, the Loan and Security Agreement and the other Loan Documents shall remain unchanged and in full force and effect and are hereby ratified and confirmed in all respects.  The Lenders’ and Collateral Agent’s execution and delivery of, or acceptance of, this Amendment shall not be deemed to create a course of dealing or otherwise create any express or implied duty by any of them to provide any other or further amendments, consents or waivers in the future.  The Borrower hereby reaffirms the grant of security under Section 4.1 of the Loan and Security Agreement and hereby reaffirms that such grant of security in the Collateral secures all Obligations under the Loan and Security Agreement, including without limitation any Term Loans funded on or after the Amendment Effective Date, as of the date hereof.

3

(b)Conditions.  For purposes of determining compliance with the conditions specified in Section 4, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Collateral Agent shall have received notice from such Lender prior to the Amendment Effective Date specifying its objection thereto.
(c)Release.  In consideration of the agreements of Collateral Agent and each Lender contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby fully, absolutely, unconditionally and irrevocably releases, remises and forever discharges Collateral Agent and each Lender, and its successors and assigns, and its present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent, Lenders and all such other persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower, or any of its successors, assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment, including, without limitation, for or on account of, or in relation to, or in any way in connection with the Loan Agreement, or any of the other Loan Documents or transactions thereunder or related thereto.  Borrower understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release.  Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.
(d)No Reliance.  The Borrower hereby acknowledges and confirms to Collateral Agent and the Lenders that the Borrower is executing this Amendment on the basis of its own investigation and for its own reasons without reliance upon any agreement, representation, understanding or communication by or on behalf of any other Person.
(e)Costs and Expenses.  The Borrower agrees to pay to Collateral Agent within ten (10) days of its receipt of an invoice (or on the Amendment Effective Date to the extent invoiced on or prior to the Amendment Effective Date), the reasonable out-of-pocket costs and expenses of Collateral Agent and the Lenders party hereto, and the reasonable fees and disbursements of counsel to Collateral Agent and the Lenders party hereto  (including allocated costs of internal counsel), in connection with the negotiation, preparation, execution and delivery of this Amendment and any other documents to be delivered in connection herewith on the Amendment Effective Date or after such date.
(f)Binding Effect.  This Amendment binds and is for the benefit of the successors and permitted assigns of each party.  
(g)Governing Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES that would result in the application of any laws other than the laws OF the State of New York), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE COLLATERAL.
(h)Complete Agreement; Amendments; Exit Fee Agreement.  This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements with respect to such subject matter.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.  For the avoidance of doubt and notwithstanding anything to the contrary 

4

in this Amendment, Borrower (a) reaffirms its obligations under the Exit Fee Agreement, including without limitation its obligation to pay the Exit Fee (as defined in the Exit Fee Agreement) if and when due thereunder, and (b) agrees that the defined term “Loan Agreement” as defined in the Exit Fee Agreement shall on and after the Amendment Effective Date mean the Loan and Security Agreement as amended by this Amendment and as may be amended, restated or modified from time to time on or after the Amendment Effective Date. 
(i)Severability of Provisions.  Each provision of this Amendment is severable from every other provision in determining the enforceability of any provision.
(j)Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Amendment.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile, portable document format (.pdf) or other electronic transmission will be as effective as delivery of a manually executed counterpart hereof.
(k)Loan Documents. This Amendment and the documents related thereto shall constitute Loan Documents.
[Balance of Page Intentionally Left Blank; Signature Pages Follow] 

5

IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment, as of the date first above written.

	
					
	BORROWER:
	 
	 

	 
	 
	 
	 
	 

	APOLLO ENDOSURGERY, INC.
	 
	APOLLO ENDOSURGERY INTERNATIONAL, LLC

	 
	 
	 
	 
	 

	By
	/s/ Stefanie Cavanaugh
	 
	By
	/s/ Stefanie Cavanaugh

	Name:
	Stefanie Cavanaugh
	 
	Name:
	Stefanie Cavanaugh

	Title:
	Chief Financial Officer
	 
	Title:
	Chief Financial Officer

	 
	 
	 
	 
	 

	APOLLO ENDOSURGERY US, INC.
	 
	LPATH THERAPEUTICS INC.

	 
	 
	 
	 
	 

	By
	/s/ Stefanie Cavanaugh
	 
	By
	/s/ Stefanie Cavanaugh

	Name:
	Stefanie Cavanaugh
	 
	Name:
	Stefanie Cavanaugh

	Title:
	Chief Financial Officer
	 
	Title:
	Chief Financial Officer

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

[Signature Page to Second Amendment to Loan and Security Agreement (Apollo Endo/Solar)]

	
					
	GUARANTOR:
	 
	 

	 
	 
	 
	 
	 

	APOLLO ENDOSURGERY UK LTD
	 
	 

	 
	 
	 
	 
	 

	By
	/s/ Stefanie Cavanaugh
	 
	 
	 

	Name:
	Stefanie Cavanaugh
	 
	 
	 

	Title:
	Director
	 
	 
	 

	 
	 
	 
	 
	 

[Signature Page to Second Amendment to Loan and Security Agreement (Apollo Endo/Solar)]

	
					
	GUARANTOR:
	 
	 

	 
	 
	 
	 
	 

	APOLLO ENDOSURGERY COSTA RICA S.R.L.
	 
	 

	 
	 
	 
	 
	 

	By
	/s/ Todd Newton
	 
	 
	 

	Name:
	Todd Newton
	 
	 
	 

	Title:
	Manager
	 
	 
	 

	 
	 
	 
	 
	 

STATE OF Texas                    )
) ss.
COUNTY OF Travis                )

On August 7,  2019,   before me, the undersigned Notary Public, personally appeared Todd Newton (name of signer), personally known to me or proved to me on the basis of satisfactory evidence of identification, which were 10953171 (license), to be the person(s) whose name is signed on the preceding or attached document, and acknowledge to me that he/she/they signed it voluntarily and for its stated purpose.

WITNESS my hand and official seal.
SEAL
/s/ Margaret Rose Keller
________________________________
Notary Public in and for said State

[Signature Page to Second Amendment to Loan and Security Agreement (Apollo Endo/Solar)]

	
					
	COLLATERAL AGENT:
	 
	 

	 
	 
	 
	 
	 

	SOLAR CAPITAL LTD.
	 
	 

	 
	 
	 
	 
	 

	By
	/s/ Anthony J. Storino
	 
	 
	 

	Name:
	Anthony J. Storino
	 
	 
	 

	Title:
	Authorized Signatory
	 
	 
	 

	 
	 
	 
	 
	 

[Signature Page to Second Amendment to Loan and Security Agreement (Apollo Endo/Solar)]

	
				
	LENDER:
	 
	 

	 
	 
	 
	 

	LENDER:
	 
	 

	SOLAR CAPITAL LTD.
	 
	 

	 
	 
	 
	 

	By
	/s/ Anthony J. Storino
	 
	 

	Name:
	Anthony J. Storino
	 
	 

	Title:
	Authorized Signatory
	 
	 

	 
	 
	 
	 

	SCP PRIVATE CREDIT INCOME FUND SPV LLC
	 
	 

	 
	 
	 
	 

	By
	/s/ Anthony J. Storino
	 
	 

	Name:
	Anthony J. Storino
	 
	 

	Title:
	Authorized Signatory
	 
	 

	 
	 
	 
	 

	SCP PRIVATE CREDIT INCOME BDC SPV LLC
	 
	 

	 
	 
	 
	 

	By
	/s/ Anthony J. Storino
	 
	 

	Name:
	Anthony J. Storino
	 
	 

	Title:
	Authorized SignatoryBlueprint

  Exhibit 10.6

 

 

 

 

 

SECURITIES PURCHASE AGREEMENT

 

 

 

between

 

 

 

CEL-SCI CORPORATION

 

 

 

and

 

 

 

ERGOMED plc

 

 

dated
as of

 

 

August 15, 2019

 

 

 

 

 

 

TABLE OF CONTENTS

 

 

 

	

ARTICLE
I DEFINITIONS

	

3

	

ARTICLE
II PURCHASE AND SALE

	

5

	

Section 2.01
Purchase and Sale.

	

5

	

Section 2.02
Transactions Effected at the Closing.

	

5

	

Section 2.03
Closing.

	

5

	

ARTICLE
III REPRESENTATIONS AND WARRANTIES OF THE COMPANY

	

6

	

Section 3.01
Organization, Qualification and Authority of the
Company.

	

6

	

Section 3.02 Valid
Issuance of Shares.

	

6

	

Section 3.03 No
Conflicts; Consents.

	

6

	

Section 3.04
Brokers.

	

6

	

Section 3.05
Offering.

	

6

	

Section 3.06
Reports and Financial Statements; Absence of Certain
Changes.

	

6

	

ARTICLE
IV REPRESENTATIONS AND WARRANTIES OF Service Provider

	

7

	

Section 4.01
Organization and Authority of Service Provider.

	

7

	

Section 4.02 No
Conflicts; Consents.

	

7

	

Section 4.03
Restricted Securities.

	

7

	

Section 4.04
Brokers.

	

7

	

ARTICLE
V CONDITIONS TO CLOSING

	

7

	

Section 5.01
Conditions to Obligations of All Parties.

	

7

	

Section 5.02
Conditions to Obligations of Service Provider.

	

7

	

Section 5.03
Conditions to Obligations of the Company.

	

8

	

ARTICLE
VI COVENANTS

	

8

	

Section 6.01
Affirmative Covenants of the Company.

	

8

	

Section 6.02
Negative Covenant of Service Provider.

	

9

	

Section 6.03
Application of Resale Proceeds.

	

9

	

Section 6.04
Further Assurances.

	

9

	

ARTICLE
VII INDEMNIFICATION

	

9

	

Section 7.01
Survival.

	

9

	

Section 7.02
Indemnification By Company.

	

9

	

Section 7.03
Payments.

	

9

	

Section 7.04 Tax
Treatment of Indemnification Payments.

	

9

	

Section 7.05
Effect of Investigation.

	

9

	

Section 7.06
Exclusive Remedies.

	

9

	

ARTICLE
VIII MISCELLANEOUS

	

10

	

Section 8.01
Expenses.

	

10

	

Section 8.02
Notices.

	

10

	

Section 8.03
Interpretation.

	

11

	

Section 8.04
Headings.

	

11

	

Section 8.05
Severability.

	

11

	

Section 8.06
Entire Agreement.

	

11

	

Section 8.07
Successors and Assigns.

	

11

	

Section 8.08 No
Third-Party Beneficiaries.

	

11

	

Section 8.09
Amendment and Modification; Waiver.

	

11

	

Section 8.10
Governing Law; Submission to Jurisdiction; Waiver of Jury
Trial.

	

11

	

Section 8.11
Counterparts.

	

11

 

 

 

 

 

SECURITIES
PURCHASE AGREEMENT

 

This Securities Purchase Agreement (this
"Agreement"), dated as August 15, 2019, is entered into by
and between CEL-SCI Corporation, a Colorado corporation (the
"Company") and Ergomed plc, a public limited company
organized under the laws of England and Wales ("Service
Provider").

 

Recitals

 

WHEREAS, the Company has authorized the issuance
by the Company of 250,000 shares (the "Shares") of the Company’s Common Stock, par value
$0.01 per share (the "Common Stock");

 

WHEREAS, as of the date of this Agreement, the
Company owes or shall owe from time to time to the Service Provider
fees for services (“Payables”)
in connection with a certain
co-development agreement dated as of April 19, 2013, as amended
(the "Co-development
Agreement"), a certain master
services agreement of the same date (the "MSA") and the clinical trial orders making up an
integral part of the MSA (the "CTOs", and together with the Co-development Agreement
and MSA, the "Principal Relationship
Agreements");
and

 

WHEREAS,
the Company wishes to issue the Shares to Service Provider in
exchange for outstanding payables and to allow partial satisfaction
of the Payables balance in an amount equal to the Net Proceeds, if
any, received by Service Provider upon any resale by Service
Provider of the Shares, subject to the terms and conditions set
forth herein.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

ARTICLE
I 

 DEFINITIONS

 

The
following terms have the meanings specified or referred to in this
Agreement:

 

"Action" means any claim, action, cause of action,
demand, lawsuit, arbitration, inquiry, audit, notice of violation,
proceeding, litigation, citation, summons, subpoena or
investigation of any nature, civil, criminal, administrative,
regulatory or otherwise, whether at law or in
equity.

 

"Affiliate" of a Person means any other Person that directly
or indirectly, through one or more intermediaries, controls, is
controlled by, or is under common control with, such Person. The
term "control" (including the terms "controlled by" and "under
common control with") means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting
securities, by contract or otherwise.

 

"Agreement" has the meaning set forth in the
preamble.

 

"Business Day" means any day except Saturday, Sunday or any
other day on which commercial banks located in London or Colorado
are authorized or required by Law to be closed for
business.

 

"Closing" has the meaning set forth in Section
2.03.

 

"Closing Date" has the meaning set forth in Section
2.03.

 

"Co-development
Agreement" has the meaning set
forth in the recitals.

 

"Common Stock" has the meaning set forth in the
recitals.

 

 

3

 

 

"Company" has the meaning set forth in the
preamble.

 

"Contracts" means all contracts, leases, deeds, mortgages,
licenses, instruments, notes, loans, commitments, undertakings,
indentures, joint ventures and all other agreements, commitments
and legally binding arrangements, whether written or
oral.

 

"Service
Provider" has the meaning set
forth in the preamble.

 

"Service Provider
Indemnitees" has the meaning
set forth in Section
7.02.

 

"CTOs" has the meaning set forth in the
recitals.

 

"Payables" has the meaning set forth in the
recitals.

 

"Disclosure
Schedules" means the Disclosure
Schedules delivered by the Company and Service Provider
concurrently with the execution and delivery of this
Agreement.

 

"Dollars or $" means the lawful currency of the United
States.

 

"Encumbrance" means any charge, claim, community property
interest, pledge, condition, equitable interest, lien (statutory or
other), option, security interest, mortgage, easement,
encroachment, right of way, right of first refusal, or restriction
of any kind, including any restriction on use, voting, transfer,
receipt of income or exercise of any other attribute of
ownership.

 

"Exchange Act" has the meaning set forth in Section
3.06.

 

"Governmental
Authority" means any federal,
state, local or foreign government or political subdivision
thereof, or any agency or instrumentality of such government or
political subdivision, or any self-regulated organization or other
non-governmental regulatory authority or quasi-governmental
authority (to the extent that the rules, regulations or orders of
such organization or authority have the force of Law), or any
arbitrator, court or tribunal of competent
jurisdiction.

 

"Governmental
Order" means any order, writ,
judgment, injunction, decree, stipulation, determination or award
entered by or with any Governmental Authority.

 

"Law" means any statute, law, ordinance, regulation,
rule, code, order, constitution, treaty, common law, judgment,
decree, other requirement or rule of law of any Governmental
Authority.

 

"Losses" means losses, damages, liabilities,
deficiencies, Actions, judgments, interest, awards, penalties,
fines, costs or expenses of whatever kind, including reasonable
attorneys' fees and the cost of enforcing any right to
indemnification hereunder and the cost of pursuing any insurance
providers; provided, that "Losses" shall not include punitive damages, except in
the case of fraud or to the extent actually awarded to a
Governmental Authority or other third party.

 

"Material Adverse
Effect" means any event,
occurrence, fact, condition or change that is, or could reasonably
be expected to become, individually or in the aggregate, materially
adverse to the business, results of operations, prospects,
condition (financial or otherwise) or assets of the
Company.

 

"MSA" has the meaning set forth in the
recitals.

 

 

4

 

 

"Net Proceeds" means proceeds in cash, checks or wire
transfers, as and when received by Service Provider upon the sale
of any Shares, net of out-of-pocket fees, costs and expenses paid
or payable by Service Provider as a result of or relating to the
sale of the Shares (including brokers’ fees, commissions or
discounts and other transaction fees incurred in connection with
such sale).

 

"Permits" means all permits, licenses, franchises,
approvals, authorizations, registrations, certificates, variances
and similar rights obtained, or required to be obtained, from
Governmental Authorities.

 

"Person" means an individual, corporation, partnership,
joint venture, limited liability company, Governmental Authority,
unincorporated organization, trust, association or other
entity.

 

"Registration
Statement" has the meaning set
forth in Section 6.01(c).

 

"Representative"
means, with respect to any Person, any and all directors, officers,
employees, consultants, financial advisors, counsel, accountants
and other agents of such Person.

 

"SEC" has the meaning set forth in Section
3.06.

 

"SEC
Documents" has the meaning set
forth in Section 3.06.

 

"Securities
Act" has the meaning set forth
in Section 3.05.

 

"Shares" has the meaning set forth in the
recitals.

 

 

ARTICLE
II 

PURCHASE
AND SALE

 

Section .01 Purchase and Sale.
Subject to the terms and conditions
set forth herein, at the Closing, the Company shall issue 250,000
Shares to Service Provider in exchange for the outstanding
payables.

 

Section .02 Transactions Effected at the
Closing. 

 

(a) At
the Closing, Service Provider shall deliver to the
Company:

 

(i) all
documents, instruments or certificates required to be delivered by
Service Provider at or prior to the Closing pursuant to
Section 5.03
of this Agreement.

 

(b) At
the Closing, the Company shall deliver to Service
Provider:

 

(i) stock
certificates evidencing the Shares; and

 

(ii) all
agreements, documents, instruments or certificates required to be
delivered by the Company at or prior to the Closing pursuant
to Section 5.02
of this Agreement.

 

Section .03 Closing. Subject to the terms and conditions of this
Agreement, the purchase and sale of the Shares contemplated hereby
shall take place at a closing (the "Closing") remotely by electronic mail, or at such other
time or on such other date or at such other place or by such other
method as the Company and Service Provider may mutually agree upon
orally or in writing (the day on which the Closing takes place, the
"Closing
Date"). If the Closing does not
take place prior to August 21, 2019, either party may terminate
this Agreement by written notice to the other
party.

 

 

5

 

 

ARTICLE
III 

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants to Service
Provider that the statements contained in this ARTICLE III
are true and correct as of the date
hereof.

 

Section .01 Organization, Qualification and
Authority of the Company. The
Company is a corporation duly organized, validly existing and in
good standing under the Laws of the state of Colorado and has full
corporate power and authority to (a) enter into this Agreement, to
carry out its obligations hereunder and to consummate the
transactions contemplated hereby. The execution and delivery by the
Company of this Agreement, the performance by the Company of its
obligations hereunder and the consummation by the Company of the
transactions contemplated hereby have been duly authorized by all
requisite corporate action on the part of the Company. This
Agreement has been duly executed and delivered by the Company, and
(assuming due authorization, execution and delivery by Service
Provider) this Agreement constitutes a legal, valid and binding
obligation of the Company enforceable against the Company in
accordance with its terms.

 

Section .02 Valid Issuance of
Shares. The Shares, when
issued, sold and delivered in accordance with the terms of this
Agreement for the consideration expressed herein, will be duly and
validly issued, fully paid, and non-assessable, and will be free of
any Encumbrances or restrictions on transfer other than
restrictions on transfer under this Agreement or under applicable
securities laws or Encumbrances created or imposed by Service
Provider.

 

Section .03 No Conflicts; Consents.
The execution, delivery and
performance by the Company of this Agreement, and the consummation
of the transactions contemplated hereby, do not and will not: (a)
conflict with or result in a violation or breach of, or default
under, any provision of the certificate of incorporation, by-laws
or other organizational documents of the Company; (b) conflict with
or result in a violation or breach of any provision of any Law or
Governmental Order applicable to the Company; (c) except as set
forth in Section 3.03
of the Disclosure Schedules, require
the consent or waiver of, notice to or other action by any Person
under, give rise to any rights under, conflict with, result in a
violation or breach of, constitute a default or an event that, with
or without notice or lapse of time or both, would constitute a
default under, result in the acceleration of or create in any party
the right to accelerate, terminate, modify or cancel any Contract
to which the Company is a party or by which the Company is bound or
to which any of its properties and assets are subject or any Permit
affecting the properties, assets or business of the Company
(including without limitation any Contract with respect to any
outstanding rights of first refusal, rights of first offer,
pre-emptive rights, anti-dilution rights ,redemption or repurchase
rights or registration rights); or (d) result in the creation or
imposition of any Encumbrance on any properties or assets of the
Company. Except as set forth in Section 3.03
of the Disclosure Schedules, no
consent, approval, Permit, Governmental Order, declaration or
filing with, or notice to, any Governmental Authority is required
by or with respect to the Company in connection with the execution
and delivery of this Agreement and the consummation of the
transactions contemplated hereby.

 

Section .04 Brokers. No broker, finder or investment banker is entitled
to any brokerage, finder's or other fee or commission in connection
with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of the
Company.

 

Section .05 Offering. Subject in part to the truth and accuracy of
Service Provider’s representations set forth in Article IV of
this Agreement, the offer, sale and issuance of the Shares are
exempt from the registration requirements of the Securities Act of
1933, as amended (the "Securities
Act"), and will not result in a
violation of the qualification or registration requirements of any
applicable securities laws of any U.S. state or any jurisdiction
outside the U.S., and neither the Company nor any authorized agent
acting on its behalf will take any action hereafter that would
cause the loss of such exemption.

 

Section .06  Reports and Financial
Statements; Absence of Certain Changes. The Company has filed all reports, schedules,
forms, statements and other documents required to be filed by the
Company with the Securities and Exchange Commission (the
"SEC") pursuant to the Securities Act and the
reporting requirements of the Securities Exchange Act of 1934, as
amended (the "Exchange Act") (such documents, together with any documents
otherwise filed by the Company with the SEC, the
"SEC
Documents"), and has previously
furnished or made available to Service Provider true and complete
copies of such SEC Documents and shall promptly deliver or make
available to Service Provider any SEC Documents filed between the
date hereof and the Closing Date. None of such SEC Documents, as of
their respective dates (and as amended through the date hereof),
contained or, with respect to SEC Documents filed after the date
hereof, will contain any untrue statement of material fact or omit
to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under
which they were made, not misleading. Since December 19, 2018,
there has been no event that would have a Material Adverse Effect,
except as disclosed in Section 3.06 of the Disclosure Schedules and in the SEC
Documents.

 

 

6

 

 

ARTICLE
IV 

REPRESENTATIONS
AND WARRANTIES OF SERVICE PROVIDER

 

Service Provider represents and warrants to the
Company that the statements contained in this ARTICLE IV
are true and correct as of the date
hereof.

 

Section .01 Organization and Authority of
Service Provider. Service
Provider is a public limited company properly organized under the
Laws of England and Wales. Service Provider has all requisite power
and authority to enter into this Agreement, to carry out its
obligations hereunder and to consummate the transactions
contemplated hereby. The execution and delivery by Service Provider
of this Agreement, the performance by Service Provider of its
obligations hereunder and the consummation by Service Provider of
the transactions contemplated hereby have been duly authorized by
all requisite action on the part of Service Provider. This
Agreement has been duly executed and delivered by Service Provider,
and (assuming due authorization, execution and delivery by the
Company) this Agreement constitutes a legal, valid and binding
obligation of Service Provider enforceable against Service Provider
in accordance with its terms.

 

Section .02 No Conflicts; Consents.
The execution, delivery and
performance by Service Provider of this Agreement, and the
consummation of the transactions contemplated hereby, do not and
will not: (a) conflict with or result in a violation or breach of,
or default under, any provision of the constitutional or other
organizational documents of Service Provider; (b) conflict with or
result in a violation or breach of any provision of any Law or
Governmental Order applicable to Service Provider; or (c) require
the consent, notice or other action by any Person under any
Contract to which Service Provider is a party. No consent,
approval, Permit, Governmental Order, declaration or filing with,
or notice to, any Governmental Authority is required by or with
respect to Service Provider in connection with the execution and
delivery of this Agreement and the consummation of the transactions
contemplated hereby.

 

Section .03 Restricted Securities.
Service Provider acknowledges that the
Shares are not registered under the Securities Act, or any state
securities laws, and that the Shares may not be transferred or sold
except pursuant to the registration provisions of the Securities
Act or pursuant to an applicable exemption therefrom and subject to
state securities laws and regulations, as
applicable.

 

Section .04 Brokers. No broker, finder or investment banker is entitled
to any brokerage, finder's or other fee or commission in connection
with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of Service
Provider.

 

 

ARTICLE
V  

CONDITIONS
TO CLOSING

 

Section .01 Conditions to Obligations of
All Parties. The obligations of
each party to consummate the transactions contemplated by this
Agreement shall be subject to the fulfilment, at or prior to the
Closing, of each of the following conditions:

 

(a) No
Governmental Authority shall have enacted, issued, promulgated,
enforced or entered any Governmental Order which is in effect and
has the effect of making the transactions contemplated by this
Agreement illegal, otherwise restraining or prohibiting
consummation of such transactions or causing any of the
transactions contemplated hereunder to be rescinded following
completion thereof.

 

(b) The
Company shall have received all consents, authorizations, orders
and approvals from the Governmental Authorities referred to
in Section
3.03, in each case, in form
and substance reasonably satisfactory to Service Provider and the
Company, and no such consent, authorization, order and approval
shall have been revoked.

 

Section .02 Conditions to Obligations of
Service Provider. The
obligations of Service Provider to consummate the transactions
contemplated by this Agreement shall be subject to the fulfilment
or Service Provider's waiver (with the exception of (b) below), at
or prior to the Closing, of each of the following
conditions:

 

(a) The
representations and warranties of the Company contained in Article
III shall be true on and as of the Closing with the same effect as
though such representations and warranties had been made on and as
of the Closing Date.

 

(b)  The
Company will have received the approval of the NYSE American for
the issuance of the Shares. The Company (i) will take all
reasonable steps to obtain such approval as soon as possible, (ii)
maintain the listing until all of the Shares have been sold or
returned to the Company and (iii) pay all of the reasonable and
customary fees and expenses incurred in connection with the listing
of the Shares. In the event that the Shares are not listed with the
NYSE American in accordance with the foregoing or the listing
ceases to be maintained at any time, Service Provider shall have a
right to return any unsold Shares to the Company for
cancellation.

 

 

7

 

 

(c) This
Agreement shall have been executed and delivered by the parties
thereto and true and complete copies thereof shall have been
delivered to Service Provider.

 

(d) Service
Provider shall have received a certificate of the Secretary or an
Assistant Secretary (or equivalent officer) of the Company
certifying:

 

(i) that
attached thereto are true and complete copies of all resolutions
and other consents adopted by the board of directors and
stockholders of the Company authorizing and approving the
execution, delivery, filing and performance of this Agreement and
the consummation of the transactions contemplated hereby, and that
all such resolutions and consents are in full force and effect as
of the Closing and are all the resolutions and consents adopted in
connection with the transactions contemplated hereby;

 

(ii) that
attached thereto are true and complete copies of the certificate of
incorporation and by-laws of the Company and that such
organizational documents are in full force and effect as of the
Closing; and

 

(iii) the
names and signatures of the officers of the Company authorized to
sign this Agreement and the other documents to be delivered
hereunder.

 

(e) The
Company shall have delivered to Service Provider a good standing
certificate (or its equivalent) for the Company from the secretary
of state or similar Governmental Authority of the jurisdiction
under the Laws in which the Company is organized.

 

(f) The
Company shall have delivered, or caused to be delivered, to Service
Provider each of the following, each in form and substance
satisfactory to Service Provider:

 

(i) stock
certificates evidencing the Shares; and

 

(ii) such
other documents or instruments as Service Provider reasonably
requests and are reasonably necessary to consummate the
transactions contemplated by this Agreement.

 

Section .03 Conditions to Obligations of
the Company. The obligations of
the Company to consummate the transactions contemplated by this
Agreement shall be subject to the fulfilment or the Company's
waiver, at or prior to the Closing, of each of the following
conditions:

 

(a) The
representations and warranties of Service Provider contained in
Article IV shall be true on and as of the Closing with the same
effect as though such representations and warranties had been made
on and as of the Closing Date.

 

(b) This
Agreement shall have been executed and delivered by the parties
thereto and true and complete copies thereof shall have been
delivered to the Company.

 

 

  
ARTICLE VI

COVENANTS

 

Section .01 Affirmative Covenants of the
Company. Unless the Company has
received the prior written consent or waiver of Service Provider,
the Company shall be subject to each of the following
covenants:

 

(a) The
Company shall at all times maintain under the Laws of the state of
Colorado its valid corporate existence and good standing and (ii)
all material Permits necessary to the conduct of its
businesses.

 

(b) The
Company shall comply with all Laws applicable to it or its
business, properties or assets, the violation of which would
reasonably be expected to have a Material Adverse
Effect.

 

(c) Promptly following the Closing, the Company shall
register the Shares under a Registration Statement on Form S-1
under the Securities Act (the "Registration
Statement"). The Company (i)
will take all reasonable steps to have the Registration Statement
declared effective as soon as possible, (ii) maintain the
effectiveness of such Registration Statement until all of the
Shares have been sold thereunder or the Shares can be sold pursuant
to Rule 144 of the Securities Act, and (iii) pay all of the
reasonable and customary fees and expenses incurred in connection
with the registration of the Shares. In the event that the Shares
are not registered on the Registration Statement in accordance with
the preceding sentence or the Registration Statement ceases to be
effective at any time, Service Provider shall have a right to
return any unsold Shares to the Company for
cancellation.

 

 

8

 

 

Section .02  Negative Covenant of
Service Provider. Unless
Service Provider has received the prior written consent or waiver
of the Company, Service Provider shall not sell more than 2% of
that day’s trading volume on any single
day.

 

Section .03 Payables
Reduction/Application of Net Proceeds. The Payables will be
decreased by the amount received by the Service Provider from the
Net Proceeds received by the Service Provider from the sale of the
Shares. Service Provider will only sell Shares to pay amounts owed
to Service Provider by the Company in connection with the Principal
Relationship Agreements. The Service Provider shall not sell the
Shares to the extent that Net Proceeds exceed the total of $6.0
million or any other total amount pursuant to an amendment of the
Principal Relationship Agreements (“the Ceiling”). If
the Ceiling is achieved with Net Proceeds, the Service Provider
will return all unsold Shares to the Company within 30 (thirty)
days from achieving the Ceiling.

 

Section .04 Further Assurances.
Following the Closing, each of the
parties hereto shall, and shall cause their respective Affiliates
to, execute and deliver such additional documents, instruments,
conveyances and assurances and take such further actions as may be
reasonably required to carry out the provisions hereof and give
effect to the transactions contemplated by this
Agreement.

                                            

ARTICLE
VII 

INDEMNIFICATION

 

Section .01 Survival. The
representations and warranties, covenants and agreements contained
herein shall survive the Closing and shall remain in full force and
effect following the Closing Date.

 

Section .02 Indemnification By
Company. Subject to the other
terms and conditions of this ARTICLE
VII, the Company shall
indemnify and defend each of Service Provider and its Affiliates
and their respective Representatives (collectively, the
"Service
Provider Indemnitees") against,
and shall hold each of them harmless from and against, and shall
pay and reimburse each of them for, any and all Losses incurred or
sustained by, or imposed upon, the Service Provider Indemnitees
based upon, arising out of, with respect to or by reason
of:

 

(a) any
inaccuracy in or breach of any of the representations or warranties
of the Company contained in this Agreement or in any certificate or
instrument delivered by or on behalf of the Company pursuant to
this Agreement; or

 

(b) any
breach or non-fulfilment of any covenant, agreement or obligation
to be performed by the Company pursuant to this
Agreement.

 

Section .03 Payments. Once a Loss is agreed to by the Company or finally
adjudicated to be payable pursuant to this ARTICLE
VII, the Company shall satisfy
its obligations within 15 Business Days of such agreement or final,
non-appealable adjudication by wire transfer of immediately
available funds.

 

Section .04 Tax Treatment of
Indemnification Payments. All
indemnification payments made under this Agreement shall be treated
by the parties as an adjustment to the Net Proceeds for Tax
purposes, unless otherwise required by Law.

 

Section .05 Effect of Investigation.
Neither the representations,
warranties and covenants of the Company, nor the right to
indemnification of any Service Provider Indemnitee making a claim
under this ARTICLE VII
with respect thereto, shall be
affected or deemed waived by reason of any investigation made by or
on behalf of an Service Provider Indemnitee (including by any of
its Representatives) or by reason of the fact that an Service
Provider Indemnitee or any of its Representatives knew or should
have known that any such representation or warranty is, was or
might be inaccurate or by reason of an Service Provider
Indemnitee's waiver of any condition set forth in Section
5.02.

 

Section .06 Exclusive Remedies.
The parties acknowledge and agree that
their sole and exclusive remedy with respect to any and all claims
(other than claims arising from breach of contract, fraud, criminal
activity or wilful misconduct on the part of a party hereto in
connection with the transactions contemplated by this Agreement)
for any breach of any representation, warranty, covenant, agreement
or obligation set forth herein or otherwise relating to the subject
matter of this Agreement, shall be pursuant to the indemnification
provisions set forth in this ARTICLE
VII. In furtherance of the
foregoing, each party hereby waives, to the fullest extent
permitted under Law, any and all rights, claims and causes of
action for any breach of any representation, warranty, covenant,
agreement or obligation set forth herein or otherwise relating to
the subject matter of this Agreement it may have against the other
parties hereto and their Affiliates and each of their respective
Representatives arising under or based upon any Law, except
pursuant to the indemnification provisions set forth in this
ARTICLE
VII. Nothing in this
Section 7.06
shall limit any Person's right to seek
and obtain any equitable relief to which any Person shall be
entitled or to seek any remedy on account of any party's
fraudulent, criminal or intentional misconduct.

 

 

9

 

                                           

ARTICLE
VIII 

MISCELLANEOUS

 

Section .01 Expenses. Except as otherwise expressly provided herein, all
costs and expenses of either party, including, without limitation,
fees and disbursements of counsel, financial advisors and
accountants, incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party who
incurred the costs and expenses.

 

Section .02 Notices. All notices, requests, consents, claims, demands,
waivers and other communications hereunder shall be in writing and
shall be deemed to have been given (a) when delivered by hand (with
written confirmation of receipt); (b) when received by the
addressee if sent by a nationally recognized overnight courier
(receipt requested); (c) on the date sent by facsimile or e-mail of
a PDF document (with confirmation of transmission) if sent during
normal business hours of the recipient, and on the next Business
Day if sent after normal business hours of the recipient or (d) on
the seventh day after the date mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such
communications must be sent to the respective parties at the
following addresses (or at such other address for a party as shall
be specified in a notice given in accordance with this
Section
8.02):

 

If to the Company: 

CEL-SCI
Corporation

8229
Boone Boulevard, Suite 802

Vienna,
Virginia 22182

Facsimile:
(703) 506-9471

E-mail:

Attention:
Geert Kersten, Chief Executive Officer

 

with a copy to: 

Hart
& Hart, LLC

Facsimile:
(303) 839-5414

E-mail: harttrinen@aol.com

Attention:William T. Hart

 

If to Service Provider: 

Ergomed
plc

1 Occam
Court

Surrey
Research Park

Guildford,
GU2 7HJ

United
Kingdom

E-mail:

Attention: Richard Barfield, Chief Financial
Officer

 

with a copy to: 

ERGOMED
PLC

1
Occam Court

Surrey
Research Park

Guildford,
Surrey, GU2 7HJ

United
Kingdom

E-mail:

Attention: Sanja
Juric, General Counsel

 

 

10

 

Section .03 Interpretation.
For purposes of this Agreement, (a)
the words "include," "includes" and "including" shall be deemed to
be followed by the words "without limitation"; (b) the word "or" is
not exclusive; and (c) the words "herein," "hereof," "hereby,"
"hereto" and "hereunder" refer to this Agreement as a whole. Unless
the context otherwise requires, references herein: (x) to Articles,
Sections, Disclosure Schedules and Exhibits mean the Articles and
Sections of, and Disclosure Schedules and Exhibits attached to,
this Agreement; (y) to an agreement, instrument or other document
means such agreement, instrument or other document as amended,
supplemented and modified from time to time to the extent permitted
by the provisions thereof and (z) to a statute means such statute
as amended from time to time and includes any successor legislation
thereto and any regulations promulgated thereunder. This Agreement
shall be construed without regard to any presumption or rule
requiring construction or interpretation against the party drafting
an instrument or causing any instrument to be drafted. The
Disclosure Schedules and Exhibits referred to herein shall be
construed with, and as an integral part of, this Agreement to the
same extent as if they were set forth verbatim
herein.

 

Section .04 Headings. The headings in this Agreement are for reference
only and shall not affect the interpretation of this
Agreement.

 

Section .05 Severability.
If any term or provision of this
Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect
any other term or provision of this Agreement or invalidate or
render unenforceable such term or provision in any other
jurisdiction. Upon such determination that any term or other
provision is invalid, illegal or unenforceable, the parties hereto
shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in
a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to
the greatest extent possible.

 

Section .06 Entire Agreement.
This Agreement constitutes the sole
and entire agreement of the parties to this Agreement with respect
to the subject matter contained herein and therein, and supersedes
all prior and contemporaneous understandings and agreements, both
written and oral, with respect to such subject matter. In the event
of any inconsistency between the statements in the body of this
Agreement and those in the Exhibits and Disclosure Schedules (other
than an exception expressly set forth as such in the Disclosure
Schedules), the statements in the body of this Agreement will
control.

 

Section .07 Successors and Assigns.
This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns. Neither party may
assign its rights or obligations hereunder without the prior
written consent of the other party, which consent shall not be
unreasonably withheld or delayed; provided, that Service Provider
may, without the prior written consent of the Company, assign all
or any portion of its rights under this Agreement to one or more of
its direct or indirect wholly-owned subsidiaries. No assignment
shall relieve the assigning party of any of its obligations
hereunder.

 

Section .08 No Third-Party
Beneficiaries. Except as
provided in ARTICLE
VII, this Agreement is for the
sole benefit of the parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is
intended to or shall confer upon any other Person or entity any
legal or equitable right, benefit or remedy of any nature
whatsoever under or by reason of this
Agreement.

 

Section .09 Amendment and Modification;
Waiver. This Agreement may only
be amended, modified or supplemented by an agreement in writing
signed by each party hereto. No waiver by any party of any of the
provisions hereof shall be effective unless explicitly set forth in
writing and signed by the party so waiving. No waiver by any party
shall operate or be construed as a waiver in respect of any
failure, breach or default not expressly identified by such written
waiver, whether of a similar or different character, and whether
occurring before or after that waiver. No failure to exercise, or
delay in exercising, any right, remedy, power or privilege arising
from this Agreement shall operate or be construed as a waiver
thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power
or privilege.

 

Section .10 Governing Law; Submission to
Jurisdiction; Waiver of Jury Trial. 

 

(a) This
Agreement shall be governed by and construed in accordance with the
internal laws of the State of New York without giving effect to any
choice or conflict of law provision or rule (whether of the State
of New York or any other jurisdiction).

 

(b) ANY
LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED
IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS
OF THE STATE OF NEW YORK IN EACH CASE LOCATED IN THE CITY OF NEW
YORK AND COUNTY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO
THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION
OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER
DOCUMENT BY MAIL TO SUCH PARTY'S ADDRESS SET FORTH HEREIN SHALL BE
EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER
PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND
UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY
SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE
AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN
BROUGHT IN AN INCONVENIENT FORUM.

 

(c) EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE
UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY TO
THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO
REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE
FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS
CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES
THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.10(c).

 

Section .11 Counterparts.
This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of
which together shall be deemed to be one and the same agreement. A
signed copy of this Agreement delivered by facsimile, e-mail or
other means of electronic transmission shall be deemed to have the
same legal effect as delivery of an original signed copy of this
Agreement.

 

 

 

 [SIGNATURE
PAGE FOLLOWS]

 

 

11

 

 

            

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

 

 

 

	

 

	
CEL-SCI CORPORATION	

 

	

 

	

 

	

 

	

 

	

	
By:  

	
/s/ Geert
R. Kersten

	

 

	

 

	

 

	
Name: Geert
R. Kersten  

	

 

	

 

	

 

	

Title:
Chief
Executive Officer

	

 

	

 

	
ERGOMED plc	

 

	

 

	

 

	

 

	

 

	

	
By:  

	
/s/ Richard
Barfield

	

 

	

 

	

 

	
Name: Richard
Barfield  

	

 

	

 

	

 

	

Title:
Chief
Financial Officer

	

 

 

 

 

12

 

 

DISCLOSURE SCHEDULES

 

 

 

 

 

 

 

Section 3.03 Approval of the issuance of the Shares by the
NYSE American.

 

 

 

 

 

 

 

13

 

 

 

EXHIBITS

 

 

 

 

 

None.

 

 

 

 

 

 

 

 

 

14

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