Document:

Exhibit 10.4(a)

 

ADDENDUM

 

TO

 

JOINT RESEARCH AND DEVELOPMENT AGREEMENT

(the “Agreement”)

 

By and Between

 

CELLSEED INC.

(“CELLSEED”)

 

And

 

EMMAUS MEDICAL INC.

(“EMMAUS”)

 

WHEREAS, the parties entered into the Agreement effective April 8, 2011; and

 

WHEREAS, the parties desire to clarify interpretation of some provisions of the Agreement.

 

NOW, THEREFORE, in consideration of the mutual promises and undertakings set forth herein, and intending to be legally bound hereby, CELLSEED and EMMAUS do hereby agree and acknowledge as follows:

 

1.                                      OBLIGATION of CELLSEED and LUMP-SUM Payment under AGREEMENT.

 

CELLSEED and EMMAUS acknowledge that the obligation of CELLSEED under the Agreement is the disclosure and transfer of the common technology, scientific and engineering support, training and know-how for the cell sheet engineering in general (the “Common Technologies”) as set forth in the Article 6 (TECHNOLOGY TRANSFER) the Agreement. CELLSEED and EMMAUS further agree and acknowledge that the lump-sum payment set forth in the Article 3 (CONSIDERATION) of the Agreement (the “‘Lump-Sum Payment”) is the consideration for the disclosure of the Common Technologies by CELLSEED to EMMAUS, and that the consideration for the transfer of the Common Technologies after the disclosure thereof shall be paid pursuant to the provision of the INDIVIDUAL AGREEMENT together with the consideration for the transfer of the technology and know-how specially required for each pipeline for which such INDIVIDUAL AGREEMENT is executed.

 

2.                                      COMPLETION of DISCLOSURE of COMMON TECHNOLOGIES

 

CELLSEED and EMMAUS acknowledge that the disclosure of the Common Technologies shall be completed by the delivery of the information package under the INDIVIDUAL AGREEMENT first executed after the execution of the Agreement. Accordingly, CELLSEED and EMMAUS further acknowledge that all obligations of CELLSEED corresponding to the Lump-Sum Payment have been fully discharged by the delivery of such information package which shall be documented by written confirmation of acceptance of the information package by EMMAUS.  Payment shall be rendered after written confirmation by EMMAUS that the delivery of the Common Technologies is complete.

 

3.                                             Joint Development Committee (JDC) and Joint Marketing Committee (JMC) under AGREEMENT.

 

CELLSEED and EMMAUS acknowledge that the arrangements set forth in the Agreement related to the JDC and JMC shall be rules commonly applicable for the INDIVIDUAL AGREEMENTs, and that the obligations relating to such arrangements shall arise in accordance with each INDIVIDUAL AGREEMENT.

 

 

4.                                             OBLIGATION and CONSIDERATION under INDIVIDUAL AGREEMENT.

 

CELLSEED and EMMAUS agree and acknowledge that the obligations of CELLSEED to disclose and transfer the technology and know-how necessary for the performance of each INDIVIDUAL AGREEMENT shall arise in accordance with the INDIVIDUAL AGREEMENT, and that EMMAUS shall pay to CELLSEED the consideration mutually agreed upon for such disclosure and transfer pursuant to the provision of the INDIVIDUAL AGREEMENT.

 

IN WITNESS WHEREOF, the parties hereto have caused this Addendum, through their duly appointed and authorized representatives, to be executed in duplicate as of the date executed by both parties.

 

	
 
    	
CellSeed Inc.
    	
 
    	
 
    	
Emmaus Medical, Inc.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Signed
    	
/s/   Yukio Hasegawa
    	
 
    	
Signed
    	
/s/   Yutaka Niimara
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name
    	
Yukio   Hasegawa
    	
 
    	
Name
    	
Yutaka   Niimara
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title
    	
President &   CEO
    	
 
    	
Title
    	
President &   CEO
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date
    	
August 8,   2011
    	
 
    	
Date
    	
August 25,   2011Exhibit 10.13

 

EMMAUS MEDICAL, INC.

 

Promissory Note

(Cash Interest With Warrant)

(On Demand)

 

	
Principal   Amount: $  200,000
    	
 
    	
Date:  January 17, 2012
    

 

FOR VALUE RECEIVED, Emmaus Medical, Inc., a Delaware corporation, located at 20725 S. Western Ave., Suite 136, Torrance, CA 90501 (“Borrower”) agrees to pay to Hope International Hospice, Inc.  (“Lender”), the sum of $200,000 U.S. Dollars (“Principal Amount”), together with accrued interest thereon at the rate of eight percent (8%) per annum, under the following terms and conditions of this Promissory Note (“Note”).

 

1.                                      Terms of Repayment (Balloon Payment):  Simple interest at the rate of eight percent (8%) per annum will accrue on the outstanding Principal Amount commencing on the date of this Note until called by Lender, and the Borrower shall make quarterly payments of interest only, as set forth in Attachment 1 hereto. The entire unpaid Principal Amount and any accrued interest thereon shall become immediately due and payable upon Lender’s request.

 

2.                                      Prepayment:  This Note may be prepaid in whole or in part at any time without premium or penalty.  All prepayments shall be in cash, and first be applied to accrued interest, and then to outstanding Principal Amount.

 

3.                                      Place of Payment:  All payments due under this Note shall be sent to the Lender’s address, set forth in Attachment 1 hereto, or at such other place as the holder of this Note may subsequently designate in writing to the Borrower.

 

4.                                      Warrant:  Lender is entitled to the warrant to purchase 55,556 shares.  The warrant shall be exercisable within three (3) years of Loan Date.  The warrant share price shall be $1.00.

 

5.                                      Acceleration of Debt:  If the Borrower fails to make any payment due under the terms of this Note or seeks relief under the U.S. Bankruptcy Code, or suffers an involuntary petition in bankruptcy or receivership that is not vacated within thirty (30) days, the entire balance of this Note and any interest accrued thereon shall be immediately due and payable to the holder of this Note.

 

6.                                      Modification:  No modification or waiver of any of the terms of this Agreement shall be allowed unless by written agreement signed by the parties. No waiver of any breach or default hereunder shall be deemed a waiver of any subsequent breach or default of the same or similar nature.

 

7.                                      Assignment.  Neither this Note, nor any of the rights, interests or obligations hereunder may be assigned, by operation of law or otherwise, in whole or in part, by Borrower or by the Lender without the prior written consent of the other party, except in connection with an assignment in whole to a successor corporation to Borrower, provided that such successor corporation acquires all or substantially all of Borrower’s property and assets and Lender’s rights hereunder are not impaired.

 

8.                                      Complete Note. This Note is the complete and exclusive statement of agreement of the parties with respect to matters in this Note. This Note replaces and supersedes all prior written or oral agreements or statements by and among the parties with respect to the matters covered by it. No representation, statement, condition or warranty not contained in this Note is binding on the parties.

 

 

9.                                      Severability of Provisions:  If any portion of this Note is deemed unenforceable, all other provisions of this Note shall remain in full force and effect.

 

10.                               Choice of Law:  All terms and conditions of this Note shall be interpreted under the laws of the State of California, United States of America.

 

IN WITNESS WHEREOF, the Borrower has caused this PROMISSORY NOTE to be executed by a duly authorized officer as of the date first written above.

 

Emmaus Medical, Inc.

 

	
By:
    	
/s/   Willis C. Lee
    	
 
    
	
 
    	
Willis C. Lee, COO
    	
 
    

 

 

ATTACHMENT 1

 

	
Lender’s   Name:
    	
Hope   International Hospice, Inc.
    	
 
    
	
 
    	
 
    	
 
    
	
Lender’s   Address:
    	
20705   S. Western Ave., #112
    	
 
    
	
 
    	
Torrance,   CA 90501
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Principal   Amount:
    	
USD   $ 200,000
    	
 
    
	
 
    	
 
    	
 
    
	
Quarterly   Interest at 8%
    	
 
    	
 
    
	
Per   Annum on Principal Amount:
    	
$ 4,000Exhibit 10.15

 

EMMAUS MEDICAL, INC.

 

Promissory Note
 (Cash Interest With Warrant)
 (On Demand Up to Two Years)

 

	
Principal   Amount: $ 205,000
    	
 
    	
Date: February 10, 2012
    

 

FOR VALUE RECEIVED, Emmaus Medical, Inc., a Delaware corporation, located at 20725 S. Western Ave., Suite 136, Torrance, CA 90501 (“Borrower”) agrees to pay to Lan T. Tran (“Lender”), the sum of $205,000 U.S. Dollars (“Principal Amount”), together with accrued interest thereon at the rate of eleven percent (11%) per annum, under the following terms and conditions of this Promissory Note (“Note”).

 

1.                                      Terms of Repayment (Balloon Payment): Simple interest at the rate of eleven percent (11%) per annum will accrue on the outstanding Principal Amount commencing on the date of this Note until called by Lender or until the two (2) year anniversary of the Loan Date, and the Borrower shall make quarterly payments of interest only, as set forth in Attachment 1 hereto. The entire unpaid Principal Amount and any accrued interest thereon shall become immediately due and payable on Lender’s request.

 

2.                                      Prepayment: This Note may be prepaid in whole or in part at any time without premium or penalty. All prepayments shall be in cash, and first be applied to accrued interest, and then to outstanding Principal Amount.

 

3.                                      Place of Payment: All payments due under this Note shall be sent to the Lender’s address, set forth in Attachment 1, hereto, or at such other place as the holder of this Note may subsequently designate in writing to the Borrower.

 

4.                                      Warrant: Lender is entitled to the warrant to purchase 56,945 shares. The warrant shall be exercisable within three (3) years of Loan Date. The warrant share price shall be $1.00.

 

5.                                      Acceleration of Debt: If the Borrower fails to make any payment due under the terms of this Note or seeks relief under the U.S. Bankruptcy Code, or suffers an involuntary petition in bankruptcy or receivership that is not vacated within thirty (30) days, the entire balance of this Note and any interest accrued thereon shall be immediately due and payable to the holder of this Note.

 

6.                                      Modification: No modification or waiver of any of the terms of this Agreement shall be allowed unless by written agreement signed by the parties. No waiver of any breach or default hereunder shall be deemed a waiver of any subsequent breach or default of the same or similar nature.

 

7.                                      Assignment: Neither this Note, nor any of the rights, interests or obligations hereunder may be assigned, by operation of law or otherwise, in whole or in part, by Borrower or by the Lender without the prior written consent of the other party, except in connection with an assignment in whole to a successor corporation to Borrower, provided that such successor corporation acquires all or substantially all of Borrower’s property and assets and Lender’s rights hereunder are not impaired.

 

8.                                      Complete Note: This Note is the complete and exclusive statement of agreement of the parties with respect to matters in this Note. This Note replaces and supersedes all prior written or oral agreements or statements by and among the parties with respect to the matters covered by it. No representation, statement, condition or warranty not contained in this Note is binding on the parties.

 

9.                                      Severability of Provisions: If any portion of this Note is deemed unenforceable, all other provisions of this Note shall remain in full force and effect.

 

 

10.                               Choice of Law: All terms and conditions of this Note shall be interpreted under the laws of the State of California, United States of America.

 

IN WITNESS WHEREOF, the Borrower has caused this PROMISSORY NOTE to be executed by a duly authorized officer as of the date first written above.

 

 

	
 
    	
Emmaus Medical, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Willis C. Lee
    
	
 
    	
 
    	
Willis   C. Lee, COO
    

 

 

ATTACHMENT 1

 

	
Lender’s   Name:
    	
 
    
	
 
    	
 
    
	
Lender’s   Address:
    	
 
    
	
 
    	
 
    
	
Principal   Amount:
    	
USD   $
    
	
 
    	
 
    
	
Quarterly   Interest at 11%
    	
 
    
	
Per   Annum on Principal Amount: 
    	
$

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