Document:

aveo-ex1028_1053.htm

Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) is the type of information that the registrant treats as private or confidential.  Double asterisks denote omissions.

 

Exhibit 10.28

Execution Version

Amendment No. 1 to

Option and License Agreement

This is Amendment No. 1 to the Option and License Agreement by and between AVEO Pharmaceuticals, Inc. (“AVEO”) and Biogen Idec International GmbH (“Biogen Idec”) dated as of March 18, 2009 (the “Agreement”).  The effective date of this Amendment No. 1 is March 18, 2014 (the “Amendment Effective Date”).  Capitalized terms used in this Amendment No. 1 shall have the meanings set forth in the Agreement, except as otherwise provided in this Amendment.

1.Background.

(a)WHEREAS, under the terms of the Agreement, AVEO and Biogen Idec agreed to collaborate on the development of ERBB3 Antibodies, with Biogen Idec holding an option to obtain exclusive rights in the Licensed Territory to develop, manufacture and commercialize Licensed Products,

(b)WHEREAS, pursuant to the Development Plan, AVEO commenced a Phase 1 Clinical Trial of an ERBB3 Antibody known as AV-203 (“AV-203”),

(c)WHEREAS, the Parties have agreed to the termination of the option and license rights of Biogen Idec under the Agreement and the payment by AVEO to Biogen Idec of royalties and a portion of certain milestone payments received by AVEO relating to a Licensed Product, including AV-203, and

(d)WHEREAS, on or about August 31, 2011, Biogen Idec assigned its rights and obligations under the Agreement to Biogen Idec MA Inc. (“BIMA”), an upstream Affiliate (i.e. indirect, 100% controlling parent) of Biogen Idec.

NOW THEREFORE, in consideration of the foregoing and the mutual covenants contained in this Amendment No. 1, AVEO and BIMA, intending to be legally bound, hereby agree to the amendments to the Agreement as reflected in Sections 2-7 of this Amendment No. 1.

2.Termination of Option; Other Terminated Provisions.

(a)As of the Amendment Effective Date, the Option granted by AVEO to Biogen Idec pursuant to Section 2.1 of the Agreement shall terminate and be of no further force and effect. As a result of the termination of the Option, the following provisions of the Agreement shall terminate as of the Amendment Effective Date and be of no further force or effect: Article II (Option Grant and Development During Option Period), Article III (License Grants), Article IV (Governance During License Term), Article V (Development During License Term), Article VI 

(Commercialization During License Term), Article VII (Manufacture), Article IX (Intellectual Property Ownership, Protection and Related Matters), Article XIII (Control Assumption Options) and Article XIV (Term; Termination and Remedies for Breach).

(b)The Parties agree that the following provisions of the Agreement shall terminate as of the Amendment Effective Date and be of no further force or effect:  Section 8.1 (Initial Fee), Section 8.2 (Equity Purchase), Section 8.3 (Payments bv Biogen Idec During Option Exercise Period), Section 8.4 (Milestone Payments by Biogen Idec After Exercise of Option), Section 8.5 (Royalty Payments by Biogen Idec), Section 8.6 (Royalty Payments by AVEO), Section 8.7 (Restrictions on Bundling), Section 8.8 (Royalty Term), Section 8.9 (Third Party Licenses), Section 8.16(b) (Records and Audits — Development Costs) Section 10.3 (Publicity), Section 10.4 (Publications), Section 12.1 (Indemnification by Biogen Idec) and Section 12.5 (Insurance).

3.Continuing Provisions.  The Parties agree that the following provisions of the Agreement shall continue following the Amendment Effective Date and be of full force and effect (such provisions, the “Continuing Provisions”):  Article I (Definitions), Section 8.10 (Payments; Reports), Section 8.11 (Taxes), Section 8.12 (United States Dollars), Section 8.13 (Currency Conversion), Section 8.14 (Blocked Payments), Section 8.15 (Late Payments) and Section 8.16(a) (Records and Audits - Royalties), Section 10.1 (Confidential Information), Section 10.2 (Permitted Disclosures), Article XI (Representations and Warranties), Section 12.2 (Indemnification by AVEO), Section 12.3 (Indemnification Procedure), Section 12.4 (Limitation of Liability), Article XV (Dispute Resolution) and Article XVI (Miscellaneous).

4.AVEO Obligations

(a)Diligence Obligation.  AVEO shall in good faith use reasonable efforts to seek a collaboration partner for the purpose of funding further Development and Commercialization of Licensed Products. For purposes of clarity, the Parties understand that AVEO shall not be required by the Agreement or this Amendment No. 1, to further Develop or Commercialize a Licensed Product in the absence of a Third Party collaborator.

(b)Payment Obligations.  AVEO shall pay the percentage of Milestone Payments (as defined below) and royalties set forth in subsection (c) and (d) below (the “AVEO Payment Obligations”) to BIMA up to a cumulative payment amount of $50 million (the “Maximum Payment”).  AVEO’s obligations with respect to the AVEO Payment Obligations shall continue until such time as BIMA has received from AVEO the Maximum Payment, after which time no further amounts shall be owed by AVEO to BIMA under the Agreement or this Amendment No. 1. The Aveo Payment Obligations are in lieu of all other payment obligations of AVEO to Biogen Idec and/or BIMA under the Agreement, including payments under Section 8.6 of the Agreement.

(c)Milestone Payments.  AVEO shall pay to BIMA [**] percent ([**]%) of all Milestone Payments received by AVEO after the second anniversary of the Amendment Effective Date. Such payments shall be made within [**] days after the end of any Calendar Quarter in which any such Milestone Payments are received by AVEO.  As used in this Amendment No. 1, “Milestone Payments” means any and all payments by a Third Party to AVEO in connection with 

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the achievement by AVEO or such Third Party (or any Sublicensee) of development, regulatory or commercial milestones relating to a Licensed Product, including sales-based milestones. For clarity, any upfront payments, payments for supplies or reimbursement of expenses are not included in Milestone Payments.

(d)Royalties on Net Sales.  AVEO shall pay to BIMA royalties on Net Sales by AVEO, its Affiliates or Sublicensees of Licensed Products equal to [**] percent ([**]%) of such Net Sales. Such royalties shall be paid to BIMA in accordance with Section 8.10 of the Agreement.

(e)Applicable Provisions.  For the avoidance of doubt, the provisions of Section 8.10 (Payments; Reports), Section 8.11 (Taxes), Section 8.12 (United States Dollars), Section 8.13 (Currency Conversion), Section 8.14 (Blocked Payments), Section 8.15 (Late Payments) and Section 8.16(a) (Records and Audits - Royalties) shall be applicable to payments under subsections (c) and (d) above.

5.Biogen Idec Obligations.  As of the Amendment Effective Date, Biogen Idec and BIMA shall have no further obligations to AVEO under the Agreement, except to the extent such obligations arise under the Continuing Provisions.

6.Confidential Information.  Notwithstanding anything to the contrary in Article X, the Parties agree that, in furtherance of its obligations under Section 4(a) of this Amendment No. 1, AVEO shall be allowed to disclose Confidential Information, including the Agreement and this Amendment No. 1, to potential Third Party collaborators and Sublicensees of Licensed Products; provided that, such potential collaborators and Sublicensees are subject to obligations of confidentiality and non-use consistent with the obligations set forth in Section 10.1 of the Agreement and AVEO shall remain responsible for any failure of such collaborator or sublicensee to treat such Confidential Information as required under Section 10.1 of the Agreement.

7.Term.  Notwithstanding the termination of Section 14.1 of the Agreement, the Agreement, as amended by this Amendment No. 1, shall remain in effect until the expiration of AVEO’s payment obligations under Section 4 above upon payment of amounts equal to the Maximum Payment.

IN WITNESS WHEREOF, AVEO and BIMA have caused this Amendment No. 1 to be duly executed by their authorized representatives on the Amendment Effective Date.

AVEO PHARMACEUTICALS, INC.

	
 
	
By:  /s/ Tuan Ha Ngoc
	

Name:  Tuan Ha-Ngoc
Title:  President and Chief Executive Officer

BIOGEN IDEC MA INC.

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By:  /s/ Lynne Sullivan
	

Name:  Lynne Sullivan
Title:  Director

- 4 -Exhibit 10.1

 

 

First
Amendment To Sponsor Support Agreement

 

This First
Amendment to Sponsor Support Agreement (this “Amendment”), dated as of March 16, 2021, is made by and
among Social Capital Hedosophia Holdings Corp. V, a Cayman Islands exempted company limited by shares (“Acquiror”),
SCH Sponsor V LLC, a Cayman Islands limited company (“Sponsor Holdco”), and Social Finance, Inc., a Delaware
corporation (the “Company”) (each, a “Party”, and collectively, the “Parties”).
Capitalized terms used herein and not otherwise defined shall have the same meanings as set forth in the Sponsor Support Agreement,
dated as of January 7, 2021, by and among the Parties and the Persons set forth on Schedule I thereto (the “Agreement”).

 

WHEREAS, Section 3.6
of the Agreement provides that the Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated,
except upon the execution and delivery of a written agreement executed by Acquiror, the Company and the Sponsor Holdco; and

 

WHEREAS, the Parties
wish to amend the Agreement as set forth below.

 

NOW, THEREFORE, in
consideration of the mutual covenants, representations, warranties and agreements contained herein, and intending to be legally
bound hereby, the Parties agree as follows:

 

1.    
Amendment to Section 1.4. The reference to “Exhibit D” in Section 1.4 of the Agreement shall be deleted
and replaced with “Exhibit E,” it being understood that such reference to Exhibit E shall be to such exhibit as amended
by that certain First Amendment to the Merger Agreement, dated as of the date hereof.

 

2.    
Full Force and Effect; Amendment. Except as expressly amended hereby, each term and provision of the Agreement will
and does remain in full force and effect. This Amendment may not be amended except by an instrument in writing signed by the Parties.

 

3.    
Counterparts. This Amendment may be executed in two or more counterparts, all of which shall be deemed an original,
but all which together shall constitute one and the same instrument.

 

4.    
Governing Law. This Amendment, and all claims or causes of action based upon, arising out of, or related to this
Amendment shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to principles
or rules of conflict of Laws to the extent such principles or rules would require or permit the application of Laws of another
jurisdiction.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have hereunto
caused this Amendment to be duly executed as of the date first written above.

 

 

	 	SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. V
	 	 	 
	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 	Name:	Chamath Palihapitiya
	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	 	 
	 	SCH SPONSOR V LLC
	 	 	 
	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 	Name:	Chamath Palihapitiya
	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	 	 
	 	SOCIAL FINANCE, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Anthony Noto
	 	Name:	Anthony Noto
	 	Title:	CEO

 

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