Document:

EX-4.1

 Exhibit 4.1 

DESCRIPTION OF THE REGISTRANT’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF THE 

SECURITIES EXCHANGE ACT OF 1934 

The following summary description of the Redeemable Units is based on and qualified by the Partnership’s Fifth Amended
and Restated Limited Partnership Agreement, dated October 31, 2016 and Amendment No. 1, effective June 13, 2018 (together, the “Limited Partnership Agreement”), copies of which are incorporated by reference as Exhibits
3.2(a) and 3.2(b), respectively, to this Annual Report on Form 10-K and is incorporated herein by this reference. For a complete description of the terms and provisions of the Partnership’s Redeemable
Units refer to the Limited Partnership Agreement. Capitalized terms not defined herein have the meanings ascribed to them in this Annual Report on Form 10-K. 

The Partnership Redeemable Units are privately offered. Profits and losses of the Partnership are allocated among the partners
on a monthly basis in proportion to their capital accounts (the initial balance of which is the amount paid for their Redeemable Units). Distributions of profits will be made at the sole discretion of the General Partner. 

The Redeemable Units may not be transferred without giving written notice of the assignment, transfer or disposition to the
General Partner. No transfer or assignment will be permitted unless the General Partner is satisfied that such transfer or assignment will not jeopardize the Partnership’s status as a partnership for federal income tax purposes. The transfer of
Redeemable Units shall be subject to all applicable securities laws. No substitution may be made unless the General Partner consents to such substitution. A transferee who becomes a substituted limited partner will be subject to all of the rights
and liabilities of a limited partner of the Partnership. A transferee who does not become a substituted limited partner will be entitled to receive the share of the profits or the return of capital to which such limited partner’s transferor
would otherwise be entitled, but will not be entitled to vote, to an accounting of Partnership transactions, to receive tax information, or to inspect the Partnership’s books and records. Under the New York Revised Limited Partnership Act (the
“New York Act”), an assigning limited partner remains liable to the Partnership for any amounts for which such limited partner may be liable under such law regardless of whether any assignee to whom such limited partner has assigned
Redeemable Units becomes a substituted limited partner. 
 A limited partner may require the Partnership to redeem some or
all of its Redeemable Units at net asset value per Redeemable Unit as of the last day of any month (the “Redemption Date”). The right to redeem is contingent upon the Partnership’s having property sufficient to discharge its
liabilities on the Redemption Date and upon receipt by the General Partner of a written request for redemption in a form specified by the General Partner at least no later than 3:00 p.m. New York City time, on the third to last business day prior to
the Redemption Date, or such other notice period as the General Partner shall determine. The General Partner, in its discretion, may waive the three business day notice requirement. Because net asset value fluctuates daily, limited partners will not
know the net asset value applicable to their redemption at the time a notice of redemption is submitted. Payment for a redeemed interest will be made within 10 business days following the Redemption Date. The General Partner has not experienced a
situation in which the Partnership did not have sufficient cash to honor redemption requests. If this were to occur, the General Partner intends to honor redemption requests on a pro rata basis unless the General Partner determines that a different
methodology would be in the best interests of the Partnership. There is no fee charged to limited partners in connection with redemptions. The General Partner may also, at its sole discretion and upon ten days’ notice to a limited partner,
require that any limited partner redeem some or all of its Redeemable Units if such redemption is in the best interests of the Partnership. The General Partner may temporarily suspend redemptions if necessary in order to liquidate commodity
positions in an orderly manner. 
 As of June 13, 2018, the Partnership began offering three classes of limited
partnership interests, Class A Redeemable Units, Class D Redeemable Units and Class Z Redeemable Units. All Redeemable Units issued prior to October 31, 2016 were deemed “Class A Redeemable Units.” Class Z
Redeemable Units were first issued on January 1, 2017. Class D Redeemable Units were first issued July 1, 2018. The rights, liabilities, risks, and fees associated with investment in the Class A Redeemable Units and Class Z
Redeemable Units were not changed. Class A Redeemable Units, Class D Redeemable Units and Class Z Redeemable Units will each be referred to as a “Class” and collectively referred to as the “Classes.” Class A
Redeemable Units and Class D Redeemable Units are available to taxable U.S. individuals and institutions, U.S. tax exempt individuals and institutions and non-U.S. investors. Class Z Redeemable Units
are offered to limited partners who receive advisory services from Morgan Stanley Smith Barney LLC (doing business as Morgan Stanley Wealth Management) (“Morgan Stanley Wealth Management”) and may also be offered to certain employees of
Morgan Stanley and/or its subsidiaries (and their family members). Class A Redeemable Units, Class D Redeemable Units and Class Z Redeemable Units are identical, except that Class A Redeemable Units are subject to a monthly
ongoing selling agent fee equal to 1/12 of 2.00% (a 2.00% annual rate) of the net assets of Class A as of the end of each month, which differs from the Class D Redeemable Units monthly ongoing selling agent fee of 1/12 of 0.75% (a 0.75%
annual rate) of the net assets of Class D as of the end of each month. Class Z Redeemable Units are not subject to a monthly ongoing selling agent fee. 

  
 69 

 Summary of the Limited Partnership Agreement 

The following is a summary explanation of some of the more significant terms and provisions of the Limited Partnership
Agreement. Each prospective investor should read the Limited Partnership Agreement thoroughly before investing. The following description is a summary only, is not intended to be complete, and is qualified in its entirety by the Limited Partnership
Agreement itself. 
 Liability of Limited Partners 

The Partnership was formed under the laws of the State of New York on April 20, 2005. In general, a limited partner will
not be liable for amounts in excess of such limited partner’s contributions to the Partnership and his, her or its share of Partnership assets and undistributed profits. The General Partner will be liable for all obligations of the Partnership
to the extent that assets of the Partnership are insufficient to discharge such obligations. 
 Management of Partnership
Affairs 
 The limited partners will not participate in the management or control of the Partnership. Under the Limited
Partnership Agreement, responsibility for managing the Partnership is vested solely in the General Partner. The General Partner may select one or more trading advisors to direct all trading for the Partnership and may cause the Partnership to invest
substantially all of its assets in another fund managed by such advisor(s). Other responsibilities of the General Partner include, but are not limited to, the following: reviewing and monitoring the trading of the Advisors, administering redemptions
of limited partners’ Redeemable Units, preparing monthly and annual reports to the limited partners, preparing and filing necessary reports with regulatory authorities, calculating the net asset value, executing various documents on behalf of
the Partnership and the limited partners pursuant to powers of attorney, and supervising the liquidation of the Partnership if an event causing dissolution of the Partnership occurs. 

Sharing of Profits and Losses; Partnership Accounting 

Each partner will have a capital account, and its initial balance will be the amount such limited partner paid for his, her or
its Redeemable Units or, in the case of a contribution by the General Partner, its capital contribution (which shall be treated as units of general partnership interest). Any increase or decrease in the net assets of each Class of Redeemable
Units will be allocated among the limited partners on a monthly basis and will be added to or subtracted from the accounts of the limited partners in the ratio that the balance of each account bears to the balance of all accounts of limited partners
holding such Class of Redeemable Units. 
 Additional Partners 

The General Partner has the sole discretion to determine whether to offer for sale additional Redeemable Units and to admit
additional limited partners. There is no limitation on the number of Redeemable Units which may be outstanding at any time. All Redeemable Units offered by the Partnership will be sold at the Partnership’s then current net asset value per
Redeemable Unit for each Class. The General Partner may make arrangements for the sale of additional Redeemable Units in the future. 

Restrictions on Transfer or Assignment 

A limited partner may transfer or assign his or her Redeemable Units upon notice to the General Partner. The assignment will
be effective at the beginning of the next month after the General Partner receives such notice. An assignee may not become a limited partner without the consent of the General Partner. The General Partner will not consent if it determines that the
admission of the assignee to the Partnership would endanger the Partnership’s tax status as a partnership or otherwise have adverse legal consequences. The transfer of Redeemable Units shall be subject to all applicable securities laws. An
assignee not admitted to the Partnership as a limited partner will share in the profits and capital of the Partnership, but will not be entitled to vote, to an accounting of Partnership transactions, to receive tax information, or to inspect the
books and records of the Partnership. An assigning limited partner will remain liable to the Partnership for any amounts for which such limited partner may be liable. 

Removal or Admission of General Partner 

The General Partner may be removed and successor general partners may be admitted upon the vote of limited partners owning
more than 50% of each Class of Redeemable Units then outstanding (excluding units of Partnership interest owned by the General Partner, any entity that directly or indirectly controls, is controlled by or is under common control with the
General Partner, or their employees). 

  
 70 

 Amendments; Meetings 

The Limited Partnership Agreement may be amended if approved in writing by the General Partner and limited partners owning
more than 50% of each Class of Redeemable Units then outstanding. In addition, the General Partner may amend the Limited Partnership Agreement without the consent of the limited partners in order to clarify any clerical inaccuracy or ambiguity
or reconcile any inconsistency (including any inconsistency between the Limited Partnership Agreement and the Memorandum), to delete or add any provision of or to the Limited Partnership Agreement required to be deleted or added by the staff of any
federal or state agency, to admit a special limited partner to the Partnership and reinstate a profit share allocation for such special limited partner, if admitted, or to make any amendment to the Limited Partnership Agreement which the General
Partner deems advisable (including but not limited to amendments necessary to effect the allocations proposed therein) provided that such amendment is not adverse to the limited partners, or is required by law. 

Any limited partner, upon written request addressed to the General Partner, may obtain from the General Partner, a list of the
names and addresses of record of all limited partners and the number of Redeemable Units held by each for a purpose reasonably related to such limited partner’s interest as a limited partner in the Partnership. Upon receipt of a written
request, signed by limited partners owning at least 10% of each Class of Redeemable Units then outstanding, that a meeting of the Partnership be called to consider any matter upon which limited partners may vote pursuant to the Limited
Partnership Agreement, the General Partner, by written notice to each limited partner of record mailed within fifteen days after such receipt, must call a meeting of the Partnership. Such meeting must be held at least 30 but not more than 60 days
after the mailing of such notice and the notice must specify the date, a reasonable time and place, and the purpose of such meeting. 

At any such meeting, upon the approval by an affirmative vote of limited partners owning more than 50% of each Class of
Redeemable Units, the following actions may be taken: (i) the Limited Partnership Agreement may, with certain exceptions, be amended; (ii) a new general partner or general partners may be admitted if the General Partner elects to withdraw
from the Partnership; (iii) any contracts with the General Partner or any of its affiliates or any trading advisor may be terminated without penalty on 60 days’ notice; and (iv) the sale of all assets of the Partnership may be
approved. However, no such action may be taken unless the Partnership has been furnished with an opinion of counsel that the action to be taken will not adversely affect the status of the limited partners as limited partners under the New York Act
and that the action is permitted under such law. 
 At any such meeting, upon the approval by an affirmative vote of limited
partners owning more than 50% of each Class of Redeemable Units then outstanding (excluding units of Partnership interest owned by the General Partner, any entity that directly or indirectly controls, is controlled by or is under common control
with the General Partner, or their employees), the following actions may be taken: (i) the Partnership may be dissolved; (ii) the General Partner may be removed and a new general partner may be admitted; and (iii) the Partnership
shall vote to terminate any collective investment vehicle operated by the General Partner into which the Partnership’s assets are invested, in accordance with the organizational documents of such collective investment vehicle. 

Reports to Limited Partners 

The books and records of the Partnership are maintained at its principal office and the limited partners have the right at all
times during reasonable business hours to have access to and copy the Partnership’s books and records for a purpose reasonably related to such limited partner’s interest as a limited partner in the Partnership. Within 30 days of the end of
each month, the General Partner will provide the limited partners with a financial report containing information relating to the net assets of the Partnership, net asset value per Class, and net asset value per Redeemable Unit for each Class as
of the end of such month, as well as other information relating to the operations of the Partnership which is required to be reported to the limited partners by CFTC regulations. In addition, if any of the following events occur, notice thereof will
be mailed to each limited partner within seven business days of such occurrence: a decrease in the net asset value per unit of any Class to $400 or less as of the end of any trading day, as such amount may be adjusted for any splits or
combinations of Redeemable Units; any change in trading advisor(s); any change in commodity broker(s); any change in the General Partner; or any material change in the Partnership’s trading policies or any material change in an advisor’s
trading strategies. In addition, a certified annual report of financial condition will be distributed to the limited partners not more than 90 days after the close of the Partnership’s fiscal year. Not more than 75 days, and if required by the
then applicable tax laws, after the close of the fiscal year, tax information necessary for the preparation of the limited partners’ annual federal income tax returns will be distributed to the limited partners. 

Power of Attorney 

To facilitate the execution of various documents by the General Partner on behalf of the Partnership and the limited partners,
the limited partners will appoint the General Partner, with power of substitution, their attorney-in-fact by executing the subscription agreement, including the power of
attorney. Such documents include, without limitation, the Limited Partnership Agreement and amendments and restatements thereto, the customer agreements with MS & Co. and the Management Agreements with the Advisors. 

  
 71 

 Indemnification 

The Limited Partnership Agreement provides that the General Partner and its affiliates will have no liability to the
Partnership or to any limited partner for any loss suffered by the Partnership which arises out of any action or inaction of the General Partner or its affiliates if the General Partner or its affiliates in good faith determined that such course of
conduct was in the best interest of the Partnership and such course of conduct did not constitute negligence or misconduct of the General Partner or its affiliates. The General Partner and its affiliates will be indemnified by the Partnership, to
the fullest extent permitted by law, against any losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by them in connection with the Partnership, provided that the same were not the result of negligence or
misconduct on the part of the General Partner or its affiliates. No indemnification of the General Partner or its affiliates is permitted for losses resulting from a violation of federal or state securities law in connection with the offer or sale
of the Redeemable Units. 
 Dissolution of the Partnership 

The affairs of the Partnership will be wound up and the Partnership liquidated as soon as practicable upon the first to occur
of the following: (i) December 31, 2055; (ii) receipt by the General Partner of an election to dissolve the Partnership at a specified time by the limited partners owning more than 50% of all Classes of Redeemable Units then outstanding
(excluding units of Partnership interest owned by the General Partner, an affiliate of the General Partner or any of their employees), notice of which is sent by registered mail to the General Partner not less than 90 days prior to the effective
date of such dissolution; (iii) assignment by the General Partner of all of its interest in the Partnership, withdrawal, removal, bankruptcy or any other event that causes the General Partner to cease to be a general partner under the New York
Act (unless the Partnership is continued as described in the Limited Partnership Agreement); (iv) the net asset value per Redeemable Unit of any Class declines on any business day after trading to less than $400 per Redeemable Unit; or
(v) any event which shall make it unlawful for the existence of the Partnership to be continued. In addition, the General Partner may, in its sole discretion, cause the Partnership to dissolve if the Partnership’s aggregate net assets
decline to less than $1,000,000. 

  
 72Exhibit 10.1

 

Development Agreement

 

This Development Agreement
(the “Agreement”) dated as of March 20, 2020 (the “Effective Date”) is entered into by and
between CNS Pharmaceuticals, Inc. (“CNS”), a Nevada corporation, having a business address of 2100 West Loop
South, Suite 900, Houston, Texas 77027, and WPD Pharmaceuticals, (“WPD”), a Polish corporation, having a business
address of ul. Żwirki i Wigury 101, 02-089 Warszawa. CNS and WPD are sometimes referred to herein individually as a “Party”
and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, WPD is party
to a sublicense agreement dated February 19, 2019 with Moleculin Biotech, Inc. (“MBI”) (the “Sublicense
Agreement”) to research and develop, manufacture, have manufactured, use, export/import, offer to sell and/or sell certain
products for use in certain territories;

 

WHEREAS, WPD is developing
certain anti-viral indications pursuant to the Sublicense Agreement; and

 

WHEREAS, CNS has agreed
to fund a portion of the development of such indications in exchange for certain economic rights.

 

NOW, THEREFORE, in
consideration of the covenants, conditions and agreements hereinafter set forth, and other valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, WPD and CNS hereby agree as follows:

 

ARTICLE
1

DEFINITIONS

 

1.1              
“Approval Achievement Date” means the earlier of the: (i) date on which WPD receives marketing approval
for a Development Product in one-half of the countries included in the Sublicensed Territory, as defined in the Sublicense Agreement;
or (ii) the payment by WPD to CNS of Development Fees hereunder of $1.0 million.

 

1.2              
“Business Day” means any day other than a day which is a Saturday, a Sunday or any other day on which
banks are authorized or required to be closed in New York City, NY.

 

1.3              
“Calendar Quarter” means the consecutive three month period ending on one of March 31, June 30, September
30, or December 31.

 

1.4              
“Confidential Information” includes: (1) all information contained in documents marked "confidential"
and disclosed by one Party (the "disclosing party") to the other Party (the "recipient party") pursuant to
this Agreement; (2) orally disclosed information which is disclosed by the disclosing party to the recipient party pursuant to
this Agreement, summarized in writing, identified as "confidential" and delivered to the recipient party; and (3) all
proprietary technical information, business and financial information, and all other information which a reasonable person would
treat confidentially that relates to the Development Products and disclosed from the disclosing party to the recipient party, whether
or not the information is marked as “confidential.” Notwithstanding anything to the contrary, CNS shall be permitted
to make such disclosures as CNS determines, in its sole discretion, is required pursuant to the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereof.

 

1.5              
“Development Fee” means 50% of the Net Sales for any Development Products in the Development Territory.

 

1.6              
“Development Products” means: (i) Sublicensed Products, as defined in the Sublicense Agreement, in the
field of pharmaceutical drug products for the treatment of any viral infection in humans; and (ii) any other drug or product in
the field of pharmaceutical drug products for the treatment of any viral infection in humans that is licensed between WPD and MBI
after this date.

 

1.7              
“Development Territory” means (i) until the Approval Achievement Date, the Sublicensed Territory, as
defined in the Sublicense Agreement; and (ii) after the Approval Achievement Date, the Sublicensed Territory, as defined in the
Sublicense Agreement, other than Poland.

 

 

 

    	 	1	 

     

    

 

1.8              
“Net Sales” shall be defined in the same way as defined in Sections 6.1 (a)-(f) of the Sublicense Agreement,
as applicable only to the relevant Development Products less any “pass-thru royalties” or “override royalty
percentage” paid by WPD pursuant to the Sublicense Agreement.

 

1.9              
“Phase II Milestone Payment” means the completion by WPD of a Phase II Study in one of the countries
included within the Development Territory, which clinical trial meets all endpoints and is sufficient to form the basis of an application
for approval of a Development Product in one Development Territory other than Poland.

 

1.10           
“Sale”, “Sells”, “Sold” means the transfer or disposition of a
Development Product, for value, to a person or entity for end use.

 

ARTICLE
2

Development Agreement

 

2.1              
Subject to the terms and conditions of this Agreement, WPD hereby agrees to use its commercially reasonable efforts in good
faith to take, or cause to be taken, all actions, and to do or cause to be done, all things necessary, proper or desirable or advisable
under applicable laws to develop and commercialize the Development Products, with a goal of eventual approval of Development Products
in the Development Territory. In exchange for the payment by WPD of the Development Fee to CNS, CNS hereby agrees to pay WPD the
following payments: (i) within thirty Business Days from the date of this Agreement, CNS will make an upfront payment of $225,000
to WPD; and (ii) within thirty days of the verified achievement of the Phase II Milestone, (such verification shall be conducted
by an independent third party mutually acceptable to the parties hereto), CNS will make a payment of $775,000 to WPD.

 

2.2              
If after three years from the Effective Date of this Development Agreement, WPD fails to use commercially reasonable efforts
as set forth in section 2.1 above, CNS shall have the right to terminate this Agreement pursuant to the terms specified in Section
6.2 below, and CNS shall be entitled to the return of any payments made hereunder. For the purpose of this clause, if WPD has expended
the funds provided by CNS pursuant to section 2.1 above on developing anti-viral indications (including all direct and indirect
costs of such development), it will be deemed to have used commercially reasonable efforts in good faith.

 

2.3              
The first Development Fees payment shall be due forty-five days after the end of the Calendar Quarter in which the first
Sale of a Development Product took place. Thereafter, WPD shall furnish to CNS Development Fees no later than forty-five days after
the end of each Calendar Quarter for the Sale of Development Products through the end of such Calendar Quarter and shall further
furnish CNS with a written statement setting forth an accounting showing the calculation of the Development Fees.

 

ARTICLE
3

INFORMATION AND USE

 

3.1              
WPD shall furnish CNS with written reports summarizing the progress of the research and development conducted under the
Sublicense Agreement related to the Development Products on a quarterly basis.

 

3.2              
The Parties agree to a mutual exchange of any data, information or know-how resulting from the research and development
of the Development Products.

 

ARTICLE
4

Other COMPENSATION

 

4.1              
If MBI exercises its right to terminate the Sublicense Agreement in whole, or to remove a portion of the sublicensed subject
matter that relates to some or all of the Development Products, by paying to WPD the Buyback Consideration (as defined in the Sublicense
Agreement), WPD agrees that CNS shall receive the greater of (i) 50% of the Buyback Consideration that is attributable to the field
of anti-viral pharmaceutical drug products for humans (such attribution to be mutually agreed upon by the Parties), and (ii) the
amounts actually provided to WPD pursuant to Section 2.1 of this Agreement.

 

 

 

    	 	2	 

     

    

 

ARTICLE
5

Confidentiality

 

5.1              
During the term of this Agreement and for a period of five (5) years thereafter, the Parties each agree that Confidential
Information of the disclosing party, which is disclosed to the recipient party pursuant to this Agreement: (i) shall be received
and held in strict confidence, (ii) shall be used only for the purposes of this Agreement, and (iii) will not be disclosed by the
recipient party (except as required by law, court order or regulation), its agents or employees without the prior written consent
of the disclosing party, except to the extent that the recipient party can establish by competent written proof that particular
Confidential Information: (i) was in the public domain at the time of disclosure to the recipient party; or later became part of
the public domain through no act or omission of the recipient party, its employees, agents, successors or assigns; or (ii) was
lawfully disclosed to the recipient party by a third party having the right to disclose it to the recipient party; or (iii) was
already known by the recipient party at the time of disclosure; or (iv) was independently developed by the recipient party without
use of the disclosing party's Confidential Information; or (iv) is required by law, court order or regulation to be disclosed,
provided that the recipient party so obligated to disclose the Confidential Information shall promptly notify the disclosing party
of such requirement and provide the disclosing party an opportunity to challenge or limit the disclosure requirement and to seek
confidential treatment or protection order, and that the Confidential Information so disclosed shall remain otherwise subject to
the confidentiality and non-use obligations set forth above in this section. Particular Confidential Information shall not be deemed
to come under any of the above exceptions merely because it is embraced by more general information that is or becomes subject
to any of the above exceptions.

 

5.2              
Subject to full compliance with Section 5.3 below, either party may disclose the other party’s Confidential Information
to its employees, consultants and affiliates who have a need to know such information in order to satisfy such Parties obligations
under this Agreement. Such employees, consultants and affiliates shall be required to agree to maintain the confidentiality of
such information pursuant to terms no less restrictive that the ones set forth herein.

 

5.3              
Each Party shall protect the other party's Confidential Information with at least the same degree of care as it uses to
protect its own confidential information, but at no time less than a reasonable degree of care. This obligation will exist while
this Agreement is in force and for a period of five (5) years thereafter.

 

5.4              
Data Privacy and Security Laws. WPD and its subsidiaries (if any) will at all times during the Term be in material compliance
with all applicable data privacy and security laws and regulations, and WPD and its subsidiaries (if any) have taken or will take
commercially reasonable actions to comply with the European Union General Data Protection Regulation (“GDPR”)
(EU 2016/679) and all other applicable laws and regulations with respect to Personal Data (defined below) that have been announced
as of the date hereof as becoming effective within 12 months after the date hereof, and for which any non-compliance with same
would be reasonably likely to create a material liability (collectively, the “Privacy Laws”). To WPD’s
knowledge, WPD and its subsidiaries (if any) have been and currently are in material compliance with the GDPR. To ensure material
compliance with the Privacy Laws, WPD and its subsidiaries (if any) have taken, and currently take, commercially reasonable steps
reasonably designed to ensure compliance in all material respects with Privacy Laws relating to data privacy and security and the
collection, storage, use, disclosure, handling, and analysis of Personal Data that WPD has collected, and collects, or is in WPD’s
possession or will be in WPD’s possession during the Term. “Personal Data” means "personal data" as
defined by GDPR.

 

ARTICLE
6

Term and TERMINATION

 

6.1              
The term of this Agreement will commence on the Effective Date and remain in full force and effect until the expiration
of the Sublicense Agreement, unless earlier termination by pursuant to the terms of this Agreement (“Term”).

 

6.2              
Subject to any rights herein which survive termination, this Agreement will earlier terminate in its entirety: (i) upon
thirty (30) calendar days written notice from either party if the other party materially breaches this Agreement, unless before
the end of such thirty (30) calendar day notice period, the breaching party has cured the material default or breach to the non-breaching
party’s reasonable satisfaction; or (ii) at any time by mutual written agreement between the Parties, subject to any terms
herein which survive termination.

 

 

 

    	 	3	 

     

    

 

ARTICLE
7

REPRESENTATIONS, WARRANTIES AND COVENANTS

 

7.1              
Each Party represents and warrants that:

 

7.1.1       
it is duly organized and validly existing under the laws of its state or country of incorporation, and has full corporate
power and authority to enter into this Agreement and to carry out the provisions hereof;

 

7.1.2       
it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person executing
this Agreement on its behalf has been duly authorized to do so by all requisite corporate action;

 

7.1.3       
this Agreement is legally binding upon it and enforceable in accordance with its terms; that the execution, delivery and
performance of this Agreement by it does not conflict with any Agreement, instrument or understanding, oral or written, to which
it is a party or by which it may be bound, nor violate any material law or regulation of any governmental entity having jurisdiction
over it; and

 

7.1.4       
it has not granted, and will not grant during the term of the Agreement, any right to any third party that would conflict
with the rights granted to the other Party hereunder;

 

7.1.5       
that it has (or will have at the time performance is due) maintained, and will maintain, and keep in full force and effect,
all agreements, permits and licenses necessary to perform its obligations hereunder; and in complying with the terms and conditions
of this Agreement and carrying out any obligations hereunder, it will comply (and it will ensure that its subcontractor's comply)
with all applicable laws, regulations, ordinances, statutes, and decrees or proclamations of all governmental entities having jurisdiction
over such Party.

 

7.2              
U.S. FCPA Compliance. WPD hereby agrees to at all times comply with the U.S. Foreign Corrupt Practices Act of 1977,
as amended (the “FCPA”), and WPD shall establish, institute and maintain policies and procedures designed to
ensure that:

 

7.2.1       
no agent, employee or affiliate of WPD, or any of its affiliates, takes any action, directly or indirectly, that would result
in a violation by such person of the FCPA or any other anti-bribery or anti-corruption law, rule or regulation of similar purpose
and scope, including, without limitation, making use of the U.S. mails or any means or instrumentality of interstate commerce in
furtherance of an unlawful offer, payment, promise to pay or authorization of the unlawful payment of any money, or other property,
gift, promise to give, or authorization of the giving of anything of value to any "foreign official" or any foreign political
party or official thereof, of any candidate for any foreign office or any candidate for foreign political office, in contravention
of the FCPA;

 

7.2.2       
WPD, and its affiliates, shall at all times keep books, records and accounts which, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of their assets and maintain a system of internal accounting controls sufficient
to provide reasonable assurances that transactions are properly authorized and recorded;

 

7.2.3       
WPD shall, and shall cause its respective affiliates, to permit CNS and its respective designated representatives, at reasonable
times and upon reasonable prior notice to such parties, to review the books and records of WPD and any of its affiliates and to
discuss the affairs, finances and condition of such party and any of its affiliates with the officers of such entities and any
of their affiliates in relation to their compliance with this section, as applicable.

 

7.2.4       
WPD understands and agrees that CNS may terminate this Agreement immediately and without any early termination penalty in
the event that WPD, or any of its affiliates, materially violates the FCPA or any other anti-bribery or anti-corruption law. WPD
understands and agrees that, if WPD, or any of its affiliates, intends to use foreign subcontractors to provide any services pursuant
to this Agreement, such party and each of its affiliates is prohibited from engaging or using subcontractors for performance of
services under this Agreement without prior and express authorization, in writing, by CNS. If WPD, or any of its affiliates, is
authorized to engage or use subcontractors for such work, such party and each of its affiliates so involved agrees to obtain a
commitment from the subcontractor to comply with the FCPA and any other anti-bribery or anti-corruption law.

 

 

 

    	 	4	 

     

    

 

ARTICLE
8 Indemnification

 

8.1              
WPD hereby agrees to hold harmless and indemnify CNS, its officers, affiliates, employees, and agents (the “CNS
Indemnitees”) from and against any and all third party claims, demands, causes of actions, costs of suit and reasonable
and documented attorney’s fees (collectively “Claims”) caused by, arising out of, or resulting from WPD’s,
its employees, agents’, affiliates’, licensees’, sublicensees’ or subcontractors’ (i) negligence
or willful misconduct; (ii) breach of any warranty or representations set forth herein; (iii) breach or alleged breach of third
party intellectual property rights; and (iv) use or sale of Development Products.

 

ARTICLE
9

MISCELLANEOUS

 

9.1              
The Parties shall execute and deliver any and all additional papers, documents, and other instruments and shall do any and
all further acts and things reasonably necessary, if any, in connection with the performance of its obligation hereunder to carry
out the intent of this Agreement.

 

9.2              
This Agreement contains the entire understanding of the Parties, and supersedes all prior agreements and understandings
between the Parties. This Agreement may be amended only by a written instrument signed by the Parties.

 

9.3              
The waiver by any Party of any terms or condition of this Agreement, or any part hereof, shall not be deemed a waiver of
any other term or condition of this Termination Agreement, or of any later breach of this Agreement.

 

9.4              
Any notice required by this Agreement will be given by personal delivery (including delivery by reputable messenger services
such as Federal Express) or by prepaid, first class, certified mail, return receipt requested, addressed to:

 

	If to WPD:	If to CNS:
	 	 
	WPD Pharmaceuticals sp. z o.o	CNS Pharmaceuticals, Inc.  
	Attention: CEO	Attention: CEO
	ul. Żwirki i Wigury 101	2100 West Loop South, Suite 900
	02-089 Warszawa, Poland	Houston, TX 77027

 

9.5              
The Article and Section captions in this Agreement have been inserted as a matter of convenience and are not part of this
Termination Agreement. References to $ or “dollars” means United States dollars.

 

9.6              
This Agreement may be executed in counterparts, all of which together shall constitute a single agreement.

 

9.7              
If any provision of this Agreement or application thereof to anyone is adjudicated to be invalid or unenforceable, such
invalidity or unenforceability shall not affect any provision or application of this Agreement which can be given effect without
the invalid or unenforceable provision or application, and shall not invalidate or render unenforceable such provision or application.
Further, the judicial or other competent authority making such determination shall have the power to limit, construe or reduce
the duration, scope, activity and/or area of such provision, and/or delete specific words or phrases as necessary to render, such
provision enforceable.

 

9.8              
This Agreement will be governed by, construed and enforced in accordance with the laws of the State of Texas. Any dispute
between the Parties regarding or related to this Agreement shall be litigated in the courts located in Houston, Texas, and WPD
agrees not to challenge personal jurisdiction in that forum.

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement by their duly authorized representatives with full right, power and authority to
enter into and perform under this Agreement.

 

	
        CNS Pharmaceuticals, Inc.

         

        By____/s/ John Climaco___________________

        John Climaco, CEO

         
	
        WPD Pharmaceuticals SP. z o.o.

         

        By__/s/ Mariusz Olejniczak___________

        Mariusz Olejniczak, President

         

 

 

 

    	 	5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]