Document:

Loan Purchase Agreement

 Exhibit 10.1 
 LOAN PURCHASE AGREEMENT 
 THIS LOAN PURCHASE AGREEMENT (this
“Agreement”) is made as of December 15, 2011, by and among WELLS FARGO FINANCIAL GUAM, INC., a Delaware corporation (“Wells Fargo Guam”), and WELLS FARGO FINANCIAL SAIPAN, INC., a Delaware
corporation (“Wells Fargo Saipan”; Wells Fargo Guam and Wells Fargo Saipan are collectively referred to herein from time to time as the “Sellers”), and BANK OF GUAM, a Bank organized under the laws of Guam
(the “Buyer”). 
 R E C I T A L S 

WHEREAS, each of the Sellers is winding down its business in the Territory of Guam and The Commonwealth of the Northern Marianas Islands
(“CNMI”), which business consisted of the origination and servicing of consumer loans secured by mortgages/deeds of trust encumbering real property and other collateral, consumer loans unsecured or secured by automobiles and/or
other personal property, retail installment sales contracts and revolving charge agreements; and 

  
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 WHEREAS, Wells Fargo Guam desires to sell, transfer and assign all of its respective right,
title and interest in and to the Wells Fargo Guam Loans (as defined in Section 1.1 below) to the Buyer, and the Buyer desires to purchase such Wells Fargo Guam Loans from Wells Fargo Guam; and 

WHEREAS, Wells Fargo Saipan desires to sell, transfer and assign all of its respective right, title and interest in the Wells Fargo
Saipan Loans (as defined in Section 1.1 below) to the Buyer, and the Buyer desires to purchase such Wells Fargo Saipan Loans from Wells Fargo Saipan; and 
 WHEREAS, each Seller will service or cause to be serviced, for an interim period, the Loans (as defined in Section 1.1 below) which it now owns, pursuant to a form Interim Servicing Agreement (the
“Interim Servicing Agreement”), attached hereto as Exhibit A and incorporated herein by reference for an interim servicing period from the Closing Date (as defined in Section 3.1 below) through the transfer date as
defined in the Interim Servicing Agreement (the “Transfer Date”) to be executed by such Seller. 

  
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 NOW, THEREFORE, in consideration of these premises and other good and valuable
consideration, the parties hereto agree as follows: 
 ARTICLE I 

PURCHASE OF LOANS AND PAYMENT 
 Section 1.1. Purchase of Loans. At Closing (as defined below) and subject to the terms, conditions and provisions herein, (i) Wells Fargo Guam agrees to sell, convey, transfer and assign
to the Buyer all of its right, title and interest in and to the loans, promissory notes, and retail installment contracts and revolving charge agreements identified in Schedule A attached hereto and incorporated herein by reference (the
“Wells Fargo Guam Loans”), and all documents which evidence, secure or regulate the Wells Fargo Guam Loans, including promissory notes, mortgages, deeds of trust, credit agreements, guaranties, security agreements, UCC-1 Financing
Statements, pledges or other collateral documents, policies of title insurance, or other insurance, appraisals, appraisal reviews, loan applications, and loan disclosure statements (the “Guam Loan Documents”), and the Buyer agrees
to acquire all of 

  
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Wells Fargo Guam’s right, title and interest in and to the Wells Fargo Guam Loans and the Guam Loan Documents subject to and in accordance with the terms of this Agreement; and
(ii) Wells Fargo Saipan agrees to sell, convey, transfer and assign to the Buyer all of its right, title and interest in and to the loans, promissory notes, and retail installment contracts and revolving charge agreements identified in
Schedule B attached hereto and incorporated herein by reference (the “Wells Fargo Saipan Loans”), and all documents which evidence, secure or regulate the Wells Fargo Saipan Loans, including promissory notes, mortgages, deeds
of trust, credit agreements, guaranties, security agreements, UCC-1 Financing Statements, pledges or other collateral documents, policies of title insurance, or other insurance, appraisals, appraisal reviews, loan applications, and loan disclosure
statements (the “Saipan Loan Documents”), and the Buyer agrees to acquire all of Wells Fargo Saipan’s right, title and interest in and to the Wells Fargo Saipan Loans and the Saipan Loan Documents subject to and in accordance
with the terms of this Agreement. 
 The Wells Fargo Guam Loans and the Wells Fargo Saipan Loans are referred to collectively
herein as the “Loans”, and the Guam Loan Documents and the Saipan Loan Documents are referred to collectively herein as the “Loan Documents”. For the purposes of this Agreement, Loans shall not include (i) any
real estate loans owned by either Seller that are subject to any pending foreclosure or similar court or judicial proceeding to collect amounts 

  
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owed under any mortgage loan, deed of trust or similar interest therein for debts previously contracted; (ii) any loans owned by Wells Fargo Saipan secured by real property in CNMI that are
more than sixty (60) days past due; or (iii) any real estate owned by either Seller taken in foreclosure or similar proceeding to collect amounts owed under any mortgage loan, deed of trust or similar interest therein for debts previously
contracted. Each of Schedule A and Schedule B was prepared as of 11:59 pm (Central Standard Time) on November 30, 2011 (the “Cut-off Date”). For the purposes hereof, Loan Documents shall only include those
documents that are in the possession of relevant Seller or have been duly recorded or otherwise are a matter of record with respect to any Wells Fargo Guam Loan or Wells Fargo Saipan Loan, as the case may be. 

Section 1.2. Purchase Price. The total purchase price (the “Purchase Price”) for the Loans shall be an
amount, determined as of the Cut-off Date, equal to (i) Ninety-nine and 42/100 percent (99.42%) of the net outstanding balance of the Loans and (ii) accrued interest owing by the obligors on the Loans from the Cut-off Date through the
Closing Date (as defined in Section 3.1 below). The Purchase Price shall be payable at Closing by the Buyer in lawful currency of the United States of America by wire transfer of immediately available funds to an account or accounts designated
(at least two business days prior to the Closing Date) by the Sellers. 

  
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 ARTICLE II 
 THE PURCHASE DOCUMENTS 
 Section 2.1. Purchase Documents. The Loans
shall be sold, transferred and assigned by each of the Seller’s execution and delivery of the following documents to the Buyer at Closing: 
 (1) Assignment of Loans; 
 (2) Assignment of Mortgages; 

(3) the Documents specified in Section 3.2(b)(4); and 

(4) such other documents and instruments as shall be necessary or reasonably requested by the Buyer in order to carry out
the purposes of this Agreement (the foregoing are collectively referred to as the “Purchase Documents”). 

ARTICLE III 

CLOSING 

Section 3.1. Closing. The closing of the purchase and sale of the Loans (the “Closing”) shall occur at the
law offices of Berman O’Connor & Mann, Hagatna, Guam, at 8:00 am, local time, on December 21, 2011 (the “Closing Date”), or such other date as may be agreed upon in writing by each of the Sellers and the Buyer.

  
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 Section 3.2. Conditions to Closing. 

(a) Sellers. Each of the Sellers’ obligation to sell the Loans and the Loan Documents owned by such Seller
shall, to the extent not waived in writing, be subject to the satisfaction of each of the following conditions at the Closing: 
 (1) The representations and warranties of the Buyer in this Agreement shall be true and correct in all material respects as of the date when made and on and as of the Closing Date as though such
representations and warranties had been made on and as of the Closing Date; 
 (2) The Buyer shall have performed
and complied in all material respects with all covenants, conditions and agreements required by this Agreement to be performed and complied with by the Buyer; 
 (3) No court or governmental authority of competent jurisdiction shall have issued, nor shall any proceedings be pending seeking, an order restraining, enjoining, or otherwise prohibiting the consummation
of the transactions contemplated by this Agreement; 

  
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 (4) The Buyer shall have delivered the Purchase Price to the Sellers. and

 (5) The Buyer shall have executed and delivered an Interim Servicing Agreement with each of the Sellers in
substantially the form attached hereto as Exhibit A. 
 (b) Buyer. The Buyer’s obligation to
purchase and pay for the Loans and the Loan Documents shall be subject, to the extent not waived in writing, to the satisfaction of each of the following conditions at the Closing: 

(1) The representations and warranties of each of the Sellers in this Agreement shall be true and correct in all material
respects as of the date when made and on and as of the Closing Date as though such representations and warranties had been made on and as of the Closing Date; 
 (2) The Sellers shall have performed and complied in all material respect with all covenants, conditions and agreements required by this Agreement to be performed and complied with by the Sellers;

 (3) No court or governmental authority of competent jurisdiction shall have issued, nor shall any proceedings
be pending seeking, an order restraining, enjoining, or otherwise prohibiting the consummation of the transactions contemplated by this Agreement; and 

  
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 (4) Each of the Sellers shall have delivered or caused to be delivered to
the Buyer each of the following: 
 (A) an electronic data file containing the current rate and outstanding
balance for each of the Loans owned by such Seller as of the Cut-off Date; 
 (B) copies of the Purchase
Documents executed by such Seller; 
 (C) a copy of the Interim Servicing Agreement executed by each of the
Sellers; 
 (D) to the extent applicable to the Loans to be sold, transferred and assigned by such Seller, a
copy of the consent of the Northern Marianas Housing Corporation (“NMHC”) to consummation of the transactions contemplated by this Agreement along with the original NMHC guarantee covering such Loans identified on Schedule C
hereto; and 
 (E) a certified copy of resolutions of the board of directors and the shareholders of each Seller
authorizing the execution and delivery of this Agreement and the performance of the transactions contemplated hereunder. 

  
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 Section 3.3. Costs. Except as may otherwise be expressly provided herein, each
party shall pay for its own fees and costs incurred in connection with this transfer, including attorneys’ fees and costs incurred in the preparation and negotiation of this Agreement and the Purchase Documents. The Buyer understands and agrees
that it shall be solely responsible for recording any assignment(s) with respect to the Loans and further that it shall pay any and all costs that may be incurred in connection with the recordation of such assignment(s) or otherwise to reflect the
sale, conveyance, transfer and assignment of the Loans. 
 Section 3.4. Termination of this Purchase Agreement. This
Agreement may be terminated prior to the Closing Date only (i) upon written notice by the Buyer to the Sellers or by the Sellers to the Buyer if the Closing does not occur on or before December 31, 2011, unless such failure to close shall
be due to the failure of the party or parties seeking to terminate to perform or observe in any material respect the covenants and agreements herein to be observed or performed by such party or parties, provided that any such termination shall not
relieve the breaching party or parties of any liability arising out of, or related to, such breach or (ii) if the parties mutually agree in writing to terminate this Agreement. 

Section 3.5. Servicing. Each Seller shall continue to service or to provide for the servicing of the Loans owned by such
Seller following the Closing Date on behalf of and for the 

  
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benefit of Buyer pursuant to the terms of the Interim Servicing Agreement. Each Seller as an interim servicer shall be entitled to servicing fees calculated as provided in the Interim Servicing
Agreement. Except as provided in the Interim Servicing Agreement, neither Seller shall have any responsibility or obligation to service any of the Loans following the Closing Date. The Buyer understands, acknowledges and agrees that the Sellers will
need to retain the Loan Files (as defined in Section 3.6 below), including any Loan Documents that may be contained in such Loan Files, for the purposes of servicing the Loans pursuant to the Interim Servicing Agreement. All of the
documentation making up the Loan Files (including all material documents related thereto) in the possession of Wells Fargo Guam or Wells Fargo Saipan with respect to the Loans that it owns will be delivered to the Buyer on the Transfer Date.

 Section 3.6. Access and Information. For a period of five (5) years from the Closing Date, the Buyer will
afford to the Sellers and their Representatives (as hereinafter defined), upon reasonable notice at reasonable times and in the presence of an authorized representative of the Buyer, reasonable access to (i) all of the documentation making up
the Loan files, including all material documents related thereto (collectively, the “Loan Files”) and all documentation and information that may be created or placed in the Loan Files after the Closing Date, with a right to copy at Wells
Fargo Guam’s or Wells Fargo Saipan’s expense, as the case may be, (ii) a complete transaction history for the Loans, including all payment and collection information, from the Transfer Date, with a right to copy at Wells Fargo
Guam’s or 

  
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Wells Fargo Saipan’s expense, as the case may be, and (iii) the Buyer’s premises, employees and auditors if such access is reasonably deemed necessary by either of the Sellers or
any of their parents or affiliates in connection with tax, regulatory, litigation, contractual or other non-competitive matters reasonably related to the Loans or the conduct of either of the Seller’s business prior to the Closing. Access to
documentation and information in the Loan Files that is created or placed therein after the Closing Date shall, if requested by the Buyer, be provided by the Buyer upon execution by the relevant Seller or Sellers of an agreement to protect the
confidentiality of such documentation and information in form and content mutually acceptable to such Seller or Sellers and the Buyer. The Buyer will preserve and keep the Loan Files for a period of at least seven (7) years from the Transfer
Date. Following such time, if the Buyer wishes to destroy any Loan Files, then it will give 60 days’ prior written notice of such planned destruction to each of the Sellers, and, either Seller shall have the right at its option and expense to
take possession of such Loan Files within such 60-day period. For the purposes of this Agreement, the terms “Representatives” means, with respect to any party to this Agreement, such party’s directors, officers, members,
managers, affiliates, employees, attorneys, accountants, lenders, consultants, independent contractors and other agents. 

  
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 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 Section 4.1. By Wells Fargo Guam.
Wells Fargo Guam hereby represents and warrants to the Buyer, as of the date of this Agreement and as of the Closing Date, that: 
 (a) Wells Fargo Guam is duly incorporated, validly existing, and in good standing under the laws of the State of Delaware, with full power, authority, and legal right to sell and assign the Wells Fargo
Guam Loans, enter into this Agreement, and perform all of its obligations under this Agreement and to carry out the transactions contemplated hereby. Wells Fargo Guam is duly qualified and registered to transact business and is in good standing in
Guam. Wells Fargo Guam has in effect all Guam and federal governmental authorizations necessary for it to carry on its business as now conducted in Guam, and has at all relevant times been duly licensed and qualified to make, enter into, service and
enforce loans, including consumer loans and the Wells Fargo Guam Loans. All necessary corporate action on the part of Wells Fargo Guam has been taken to authorize the execution and delivery of this Agreement and the sale and assignment of the Wells
Fargo Guam Loans. This Agreement constitutes the legal, valid and binding obligation of Wells Fargo Guam, enforceable against Wells Fargo Guam in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium, fraudulent
transfer and similar laws of general applicability relating to or affecting creditor’s rights or by general equity principles. 

  
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 (b) Neither the execution and delivery of this Agreement and of other
documents related to this sale nor the consummation of the transactions contemplated hereby and thereby violates or will violate any provision of the organizational documents of Wells Fargo Guam or, to the knowledge of Wells Fargo Guam, any statute,
ordinance, regulation, order, judgment or decree of any court or governmental agency, or, to the knowledge of Wells Fargo Guam, conflicts or will conflict with or will result in any breach of any of the terms of, or constitute a default under, or
result in the termination of, or the creation of any lien pursuant to the terms of any material contract or agreement to which Wells Fargo Guam is a party or subject to or by which Wells Fargo Guam is bound. 

(c) Except as disclosed in Schedule 4.1(c), no consents or approvals of, or waivers by, or filings or registrations
with, any governmental authority or with any third party are required to be made or obtained by Wells Fargo Guam in connection with the execution, delivery or performance by it of this Agreement or to consummate the transactions contemplated hereby.
Wells Fargo Guam is not a bank or regulated as such under the laws of Guam or the United States. 
 (d) Except as
disclosed in Schedule 4.1(d), no governmental authority in Guam has initiated or has pending (i) any proceeding, enforcement action, or (ii) to the 

  
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knowledge of Wells Fargo Guam, investigation or inquiry into the business, operations, policies, practices or disclosures of Wells Fargo Guam, or (iii) to the knowledge of Wells Fargo Guam,
threatened any of the foregoing, 
 (e) Wells Fargo Guam has good and marketable title to the Wells Fargo Guam
Loans, free and clear of all claims, liens, pledges and other encumbrances of any kind whatsoever and has full right and authority to sell and assign the Wells Fargo Guam Loans. 

(f) With respect to each Wells Fargo Guam Loan secured by real property (a “Wells Fargo Guam Mortgage
Loan” and collectively, the “Wells Fargo Guam Mortgage Loans”), each Wells Fargo Guam Mortgage Loan is secured by a mortgage that has been duly filed and recorded in the appropriate jurisdiction, and is a valid and
subsisting first or subordinate lien of record on the mortgaged property including the land and all buildings and any other improvements on the mortgaged property. 

(g) As to the Wells Fargo Guam Loans, to the knowledge of Wells Fargo Guam, and other than as to the existence of
insurance on property securing the Loans, which is governed by Article VIII hereof: 
 (i) The Wells Fargo Guam
Loans were each originated in all material respects in accordance with all applicable federal, territorial, commonwealth, state and local laws, regulations and ordinances relating to the origination of such Loan

  
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and constitute the legal, valid and binding obligation of the obligor(s) named therein, subject to bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and similar laws of
general applicability relating to or affecting creditor’s rights or by general equity principles; and 

(ii) The Wells Fargo Guam Loans have been serviced and enforced in compliance with all applicable laws, rules and
regulations of Guam or the CNMI as applicable, and of the United States, including, but not limited to as applicable, Uniform Consumer Credit Code of Guam, 14 G.C.A.; the Truth-in-Lending Act, 15 U.S. Code § 1601, et seq.; the Equal Credit
Opportunity Act, 15 U.S. Code § 1691, et seq.; the Fair Debt Collection Practices Act, 15 U.S. Code § 1692, et seq.; and the Real Estate Settlement Procedures Act, 12 U.S. Code § 2601, et seq.. 

(h) Wells Fargo Guam has maintained complete and accurate records with respect to the making, administration, servicing
and enforcement of the Wells Fargo Guam Loans and such records have been duly and regularly maintained in the regular course of its business, 
 (i) Except as disclosed in Schedule 4.1(i), neither Wells Fargo Guam nor any of its affiliates has entered into any assignment or securitization of any of the Wells Fargo Guam Loans or granted any
pledge, security interest or any other interest in any of the Wells Fargo Guam Loans. 

  
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 (j) Except as disclosed in Schedule 4.1(j), to the knowledge of Wells
Fargo Guam, the terms of each note, mortgage, deed of trust, credit agreement, guaranty, security agreement, UCC-1 Financing Statement, pledge or other collateral document for each Wells Fargo Guam Loan have not been impaired, waived, altered or
modified in any respect, except by a written instrument reflected in the Wells Fargo Guam Loan Files or as identified in the data file with respect to the Wells Fargo Guam Loans delivered to the Buyer as of the Cut-off date. 

(k) Except as disclosed in Schedule 4.1(k), to the knowledge of Wells Fargo Guam, there are no material claims,
defenses, or disputes raised by any of the respective persons shown as indebted on, or having guaranteed or mortgaged or granted a pledge or security interest in property for, the Wells Fargo Guam Loans (the “Wells Fargo Guam
Obligors”) against Wells Fargo Guam, nor, with respect to each Wells Fargo Guam Mortgage Loan, to the knowledge of Wells Fargo Guam, any threatened condemnation or filing of a superior lien on any related mortgaged property. 

(l) The amounts shown in Schedule A with respect to the Wells Fargo Guam Loans represent the true and correct
outstanding balances thereon at the Cut-off Date. 
 (m) Wells Fargo Guam shall be responsible for payment of any
brokerage, finder’s or other fee or commission in connection with this Agreement or any matter related hereto to any broker, finder, investment banker or any other person engaged by Wells Fargo Guam or any person acting on behalf of Wells Fargo
Guam. 

  
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 Section 4.2. By Wells Fargo Saipan. Wells Fargo Saipan hereby represents and
warrants to the Buyer, as of the date of this Agreement and as of the Closing Date, that: 
 (a) Wells Fargo
Saipan is duly incorporated, validly existing, and in good standing under the laws of the State of Delaware, with full power, authority, and legal right to sell and assign the Wells Fargo Saipan Loans, enter into this Agreement, and perform all of
its obligations under this Agreement and to carry out the transactions contemplated hereby. Wells Fargo Saipan is duly qualified and registered to transact business and is in good standing in the CNMI. Wells Fargo Saipan has in effect all CNMI and
federal governmental authorizations necessary for it to carry on its business as now conducted in the CNMI, and has at all relevant times been duly licensed and qualified to make, enter into, service and enforce loans, including consumer loans and
the Wells Fargo Saipan Loans. All necessary corporate action on the part of Wells Fargo Saipan has been taken to authorize the execution and delivery of this Agreement and the sale and assignment of the Wells Fargo Saipan Loans. This Agreement
constitutes the legal, valid and binding obligation of Wells Fargo Saipan, enforceable against Wells Fargo Saipan in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and similar laws of
general applicability relating to or affecting creditor’s rights or by general equity principles. 

  
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 (b) Neither the execution and delivery of this Agreement and of other
documents related to this sale nor the consummation of the transactions contemplated hereby and thereby violates or will violate any provision of the organizational documents of Wells Fargo Saipan or, to the knowledge of Wells Fargo Saipan, any
statute, ordinance, regulation, order, judgment or decree of any court or governmental agency, or, to the knowledge of Wells Fargo Saipan, conflicts or will conflict with or will result in any breach of any of the terms of, or constitute a default
under, or result in the termination of, or the creation of any lien pursuant to the terms of any material contract or agreement to which Wells Fargo Saipan is a party or subject to or by which Wells Fargo Saipan is bound. 

(c) Except as disclosed in Schedule 4.2(c), no consents or approvals of, or waivers by, or filings or registrations
with, any governmental authority or with any third party are required to be made or obtained by Wells Fargo Saipan in connection with the execution, delivery or performance by it of this Agreement or to consummate the transactions contemplated
hereby. Wells Fargo Saipan is not a bank or regulated as such under the laws of the CNMI or the United States. 

(d) Except as disclosed in Schedule 4.2(d), no governmental authority in the

  
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CNMI has initiated or has pending (i) any proceeding, enforcement action; or (ii) to the knowledge of Wells Fargo Saipan, investigation or inquiry into the business, operations,
policies, practices or disclosures of Wells Fargo Saipan; or (iii) to the knowledge of Wells Fargo Saipan, threatened any of the foregoing. 
 (e) Wells Fargo Saipan has good and marketable title to the Wells Fargo Saipan Loans, free and clear of all claims, liens, pledges and other encumbrances of any kind whatsoever and has full right and
authority to sell and assign the Wells Fargo Saipan Loans. 
 (f) With respect to each Wells Fargo Saipan Loan
secured by real property (a “Wells Fargo Saipan Mortgage Loan” and collectively, the “Wells Fargo Saipan Mortgage Loans”), each Wells Fargo Saipan Mortgage Loan is secured by a mortgage that has been duly filed and
recorded in the appropriate jurisdiction, and is a valid and subsisting first or subordinate lien of record on the mortgaged property including the land and all buildings and any other improvements on the mortgaged property. 

(g) As to the Wells Fargo Saipan Loans, to the knowledge of Wells Fargo Saipan, and other than as to the existence of
insurance on property securing such Loans, which is governed by Article VIII hereof: 
 (i) The Wells Fargo
Saipan Loans were each originated in all material respects in accordance with all applicable federal, territorial, 

  
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commonwealth, state and local laws, regulations and ordinances relating to the origination of such Loan and constitute the legal, valid and binding obligation of the obligor(s) named therein,
subject to bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and similar laws of general applicability relating to or affecting creditor’s rights or by general equity principles; and 

(ii) The Wells Fargo Saipan Loans have been extended, serviced and enforced in compliance with all applicable laws, rules
and regulations of the CNMI and of the United States, including, but not limited to as applicable, the Regulated Loan Act of 2000 of the CNMI, 4 Division 6, Chapter 10 CNMI Code; the Truth-in-Lending Act, 15 U.S. Code § 1601, et seq.; the Equal
Credit Opportunity Act, 15 U.S. Code § 1691, et seq.; the Fair Debt Collection Practices Act, 15 U.S. Code § 1692, et seq.; and the Real Estate Settlement Procedures Act, 12 U.S. Code § 2601, et seq. 

(h) Wells Fargo Saipan has maintained complete and accurate records with respect to the making, administration, servicing
and enforcement of the Wells Fargo Saipan Loans and such records have been duly and regularly maintained in the regular course of its business. 

  
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 (i) Except as disclosed in Schedule 4.2(i), Wells Fargo Saipan has
not entered into any assignment or securitization of any of the Wells Fargo Saipan Loans or granted any pledge, security interest or any other interest any of the Wells Fargo Saipan Loans. 

(j) Except as disclosed in Schedule 4.2(j), to the knowledge of Wells Fargo Saipan, the terms of each note,
mortgage, deed of trust, credit agreement, guaranty, security agreement, UCC-1 Financing Statement, pledge or other collateral document for each Wells Fargo Saipan Loan have not been impaired, waived, altered or modified in any respect, except by a
written instrument reflected in the Wells Fargo Saipan Loan Files or as identified in the data file with respect to the Wells Fargo Saipan Loans delivered to the Buyer as of the Cut-off date. 

(k) Except as disclosed in Schedule 4.2(k), to the knowledge of Wells Fargo Saipan, there are no material claims,
defenses, or disputes raised by any of the respective persons shown as indebted on, or having guaranteed or mortgaged or granted a pledge or security interest in property for, the Wells Fargo Saipan Loans (the “Wells Fargo Saipan
Obligors”) against Wells Fargo Saipan, nor, with respect to each Wells Fargo Saipan Mortgage Loan, to the knowledge of Wells Fargo Saipan, any threatened condemnation or filing of a superior lien of any related mortgaged property.

 (l) The amounts shown in Schedule B with respect to the Wells Fargo Saipan Loans represent the true and
correct outstanding balances thereon at the Cut-off Date. 

  
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 (m) Wells Fargo Saipan shall be responsible for payment of any brokerage,
finder’s or other fee or commission in connection with this Agreement or any matter related hereto to any broker, finder, investment banker or any other person engaged by Wells Fargo Saipan or any person acting on behalf of Wells Fargo Saipan.

 Section 4.3. By Buyer. Buyer hereby represents and warrants to each of the Sellers, as of the date of this
Agreement and as of the Closing Date, that: 
 (a) The execution and delivery by the Buyer of this Agreement and
of other documents related to this sale and the performance by the Buyer of its covenants and agreements hereunder and thereunder and the consummation by the Buyer of the transactions contemplated hereby and thereby have been duly authorized by all
necessary corporate action and this Agreement constitutes and other documents related to this sale shall constitute, a valid and legally binding obligation of the Buyer, enforceable against the Buyer in accordance with their respective terms,
subject to bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and similar laws of general applicability relating to or affecting creditor’s rights or by general equity principles. 

(b) Neither the execution and delivery of this Agreement and of other documents related to this sale nor the consummation
of the transactions contemplated 

  
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hereby and thereby violates or will violate any provision of the organizational documents of the Buyer or, to the knowledge of the Buyer, any statute, ordinance, regulation, order, judgment or
decree of any court or governmental agency or, to the knowledge of the Buyer, conflicts or will conflict with or will result in any breach of any of the terms of, or constitute a default under, or result in the termination of, or the creation of any
lien pursuant to the terms of any material contract or agreement to which the Buyer is a party or subject to or by which the Buyer is bound. 
 (c) The Buyer is duly organized, validly existing, and in good standing as a bank under the laws of Guam and is duly qualified and registered to do business in Guam and the CNMI and on the Closing Date
shall have the full power to acquire the Loans and the Loan Documents as contemplated herein. The Buyer has in effect all Guam, CNMI, and federal governmental authorizations necessary for it to carry on its business as now conducted in Guam and the
CNMI, and on the Closing Date shall be duly licensed and qualified to make, enter into, service and enforce loans, including consumer loans. 

  
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 (d) Except as disclosed in Schedule 4.3(d), no consents or approvals
of, or waivers by, or filings or registrations with, any governmental authority or with any third party are required to be made or obtained by the Buyer in connection with the execution, delivery or performance by it of this Agreement or to
consummate the transactions contemplated hereby. 
 (e) After the Closing Date, the Buyer shall be solely
responsible for, and shall bear the cost of, giving any notice of assignment in accordance with the law governing the terms of each such loan agreement and the perfection of any security interest with respect thereto. 

(f) The Buyer shall be responsible for payment of any brokerage, finder’s or other fee or commission in connection
with this Agreement or any matter related hereto to any broker, finder, investment banker or any other person engaged by the Buyer or any person acting on behalf of the Buyer. 

(g) Buyer has, and will have at the Closing, adequate financial resources to satisfy its monetary and other obligations
under this Agreement.  

  
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 (h) The Buyer (i) has received all information or access to all
information that the Buyer deems necessary to make an informed decision with respect to a purchase of the Loans; (ii) has had the opportunity to make such investigation as the Buyer desires pertaining to the Loans and its purchase thereof and
to verify any information furnished to the Buyer; and (iii) has had the opportunity to ask questions concerning the Loans and its purchase thereof. The Buyer has independently and without reliance (other than with respect to the representations
and warranties of the Sellers contained herein) conducted its own credit evaluation, reviewed such information as it has deemed adequate and appropriate and made its own analysis of the transactions contemplated hereunder. Other than with respect to
the representations and warranties of the Sellers contained herein, the Buyer has not relied upon any investigation or analysis conducted by, advice or communication from, nor any warranty or representation by either of the Sellers, any of their
affiliates or any agent or employee of either of the Sellers or any of their affiliates, expressed or implied. 

Section 4.4. No Representation or Warranty regarding Certain Matters. THE BUYER ACKNOWLEDGES, UNDERSTANDS AND AGREES THAT,
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN SECTION 4.1, ON THE PART OF WELLS FARGO GUAM, AND 

  
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SECTION 4.2, ON THE PART OF WELLS FARGO SAIPAN, THE LOAN DOCUMENTS ARE BEING SOLD, TRANFERRED AND ASSIGNED TO THE BUYER ON AN “AS IS” BASIS. The Buyer further acknowledges, understands
and agrees that neither Seller makes any representation or warranty with respect to the completeness of any of the Loans Files. 

ARTICLE V 
 OTHER
TERMS AND CONDITIONS 
 Section 5.1. RESPA Notification. At least fifteen (15) days prior to the Transfer Date,
each of the Sellers shall notify the Wells Fargo Guam Obligors and the Wells Fargo Saipan Obligors, as the case may be, under the Loans that constitute Wells Fargo Saipan Mortgage Loans or Wells Fargo Guam Mortgage Loans, as the case may be, of the
transfer of servicing rights as required by the Real Estate Settlement Procedures Act, 12. U.S. Code § 2601, et seq Each of the Sellers consents to permit Buyer to advise the Wells Fargo Guam Obligors and the Wells Fargo Saipan Obligors that it
has purchased the Loans and that all payments thereon shall be made to the Buyer following the Transfer Date. 

  
 27 

 Section 5.2. Power of Attorney. Effective as of the Transfer Date, each of the
Sellers hereby constitutes and appoints Buyer irrevocably the true and lawful attorney-in-fact of the such Seller with full power of revocation and substitution in the name and stead of the Seller, but on behalf of and for the benefit of the Buyer,
to do any and all of following with respect to the Wells Fargo Saipan Loans and the Wells Fargo Guam Loans, as the case may be: 
 (a) To endorse the name of the relevant Seller upon all checks, drafts, notes, powers and other forms of exchange received in payment on any of the relevant Loans. 

(b) To demand, collect, and receive any and all of the relevant Loans, to enforce any of the rights in respect thereof, to
give receipts and releases for and in respect of the same, and to do all acts necessary to perfect in Buyer’s name any liens, mortgages or security interests in real or personal property held as security for the Loans by the relevant Seller.

 Section 5.3. Reasonable Best Efforts. Subject to the terms and conditions of this Agreement, the Sellers, on the
one hand, and the Buyer, on the other hand, agree to use their reasonable best 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, so as to permit consummation of the transactions contemplated hereby as promptly as practicable and otherwise to enable consummation of the transactions contemplated hereby, and shall cooperate fully with the other parties hereto to
that end. 

  
 28 

 Section 5.4. Notification of Certain Matters. Each party shall give the other
prompt notice of any fact, event or circumstance known to it that (i) would cause or constitute a material breach of any of its representations, warranties, covenants or agreements contained herein, or (ii) could reasonably lead to
litigation or regulatory action that would delay or prevent the consummation of the transactions contemplated by this Agreement. 
 Section 5.5. System Conversion. The parties recognize that the data processing systems maintained by the Buyer and the Sellers may differ. The Sellers agree to provide reasonable assistance
and cooperation in transitioning and converting information maintained under the systems operated by Sellers to those of Buyer. 

ARTICLE VI – SURVIVAL AND INDEMNIFICATION 
 Section 6.1. Survival of Representations, Warranties and Covenants. All of the representations and warranties made by the Sellers and the Buyer contained in this Agreement, and any covenants
or other agreements the performance of which is specified to occur on or prior to the Closing Date, shall survive the execution and delivery of this Agreement and the Closing and shall expire on the day immediately prior to the eighteen
(18) month anniversary of the Closing Date; provided that claims related to or arising out of fraud by either of the Sellers, on the one hand, or the Buyer, on the other, shall each survive until the date on which the applicable statute
of limitations has expired. Any covenant or other agreement herein any 

  
 29 

 
portion of the performance of which may or is specified to occur after the Closing Date shall survive the Closing Date hereunder indefinitely or for such lesser period of time as may be specified
therein, but not to exceed the applicable statute of limitations in the event of a breach of such covenant or other agreement. 

Section 6.2. Indemnification by Wells Fargo Guam. Subject to the limitations set forth herein, Wells Fargo Guam shall
indemnify, defend, save and hold the Buyer and its Representatives (collectively, the “Buyer Indemnitees”) harmless from and against all demands, claims, allegations, assertions, actions or causes of action, assessments, losses,
damages, deficiencies, liabilities, costs and expenses (including reasonable legal fees), interest, penalties, and all reasonable amounts paid in investigation, defense or settlement of any of the foregoing (collectively, “Damages”)
which any of them may suffer, incur or sustain arising out of, attributable to, or resulting from (i) Wells Fargo Guam’s breach of any representation or warranty contained in this Agreement; or (ii) Wells Fargo Guam’s breach or
nonfulfillment of any covenant or agreement made by Wells Faro Guam in or pursuant to this Agreement. 

  
 30 

 Section 6.3. Indemnification by Wells Fargo Saipan. Subject to the limitations
set forth herein, Wells Fargo Saipan shall indemnify, defend, save and hold the Buyer Indemnitees harmless from and against all Damages which any of them may suffer, incur or sustain arising out of, attributable to, or resulting from (i) Wells
Fargo Saipan’s breach of any representation or warranty contained in this Agreement; or (ii) Wells Fargo Saipan’s breach or nonfulfillment of any covenant or agreement made by Wells Faro Saipan in or pursuant to this Agreement.

 Section 6.4. Indemnification by the Buyer. The Buyer shall indemnify, defend, save and hold each of the Sellers
and its Representatives (collectively, the “Seller Indemnitees”) harmless from and against any and all Damages which any of them may suffer, incur or sustain arising out of, attributable to, or resulting from (i) the
Buyer’s breach of any representation or warranty contained in this Agreement; or (ii) the Buyer’s breach or nonfulfillment of any covenant or agreement made by Buyer in or pursuant to this Agreement 

Section 6.5. Defense of Claims. 
 (a) If any claim (the “Claim”) is filed or initiated against any party entitled to the benefit of indemnity hereunder (the “Indemnified Party”), written notice thereof
specifying in detail the source of the Claim or potential Claim under Section 6.2, Section 6.3 or Section 6.4, as the case may be, shall be given to the indemnifying party (the “Indemnifying Party”) promptly (and in
any event within ten (10) days after notice of the Claim); provided, however, that the failure of any Indemnified Party to give timely notice shall not affect rights to indemnification

  
 31 

 
hereunder except to the extent that the Indemnifying Party demonstrates actual damage caused by such failure. After such notice, the Indemnifying Party shall be entitled, if it so elects, to take
control of the defense and investigation of such Claim and to employ and engage attorneys of its own choice to handle and defend the same, such attorneys to be reasonably satisfactory to the Indemnified Party, at the Indemnifying Party’s cost,
risk and expense and to compromise or settle such Claim, which compromise or settlement shall be made only with the written consent of the Indemnified Party; provided such consent shall not be unreasonably withheld and provided,
further, that if the sole settlement relief payable to a third party in respect of such Claim is monetary damages that are paid in full by the Indemnifying Party and such settlement includes an unconditional term (subject only to the
foregoing payment being concurrently made) releasing the Indemnified Party and its affiliates from all liability in respect of such Claim, the Indemnifying Party may settle such claim without the consent of the Indemnified Party.  

(b) If the Indemnifying Party fails to assume the defense of such Claim within thirty (30) days after receipt of notice thereof
pursuant to this Section 6.5, the Indemnified Party against which such Claim has been filed or initiated will (upon delivering notice to such effect to the Indemnifying Party) have the right to undertake, at the Indemnifying Party’s cost
and expense, to the extent otherwise provided herein, the defense, compromise or settlement of such Claim on behalf of and for the account and risk of the Indemnifying Party; provided, however, that such Claim shall not be compromised
or settled without the written consent of the Indemnifying Party, which consent shall not be unreasonably withheld. In the event the 

  
 32 

 
Indemnified Party assumes defense of the Claim, the Indemnified Party will keep the Indemnifying Party reasonably informed of the progress of any such defense, compromise or settlement and will
consult with, when appropriate, and consider any reasonable advice from, the Indemnifying Party of any such defense, compromise or settlement. To the extent otherwise provided herein, the Indemnifying Party shall be liable for any settlement of any
action effected pursuant to and in accordance with this Section 6.5 and for any final judgment (subject to any right of appeal), and the Indemnifying Party agrees to indemnify and hold harmless the Indemnified Party from and against any Damages
by reason of such settlement or judgment. 
 (c) If the Indemnifying Party elects to defend any Claim under this
Section 6.5, then the Indemnified Party shall be entitled to participate (but not control) such defense with counsel reasonably acceptable to the Indemnifying Party, at such Indemnified Party’s sole cost and expense, provided, that
in any Claim where both an Indemnified Party and an Indemnifying Party are named as defendants, if counsel to the Indemnified Party shall reasonably conclude in writing that there is a reasonably apparent conflict of interest between the Indemnified
Party and the Indemnifying Party, then the Indemnified Party shall have the right to select one law firm reasonably acceptable to the Indemnifying Party at the Indemnifying Party’s expense as separate counsel on behalf of the Indemnified
Parties. If the Indemnifying Party elects to defend, compromise or settle such Claim, the Indemnified Party shall cooperate in the defense against, or compromise or settlement of, such Claim. If the Indemnifying Party chooses to defend any claim,
the Indemnified Party shall make available to the Indemnifying Party any personnel or any books, records or other documents within its control that are reasonably necessary or appropriate for such defense, subject to the execution of appropriate
confidentiality agreements. 

  
 33 

 (d) Any Indemnified Party seeking indemnification for any Claim or potential Claim
arising from a claim asserted by any party to this Agreement against the Indemnifying Party shall give prompt written notice to the Indemnifying Party specifying in detail the source of the Claim or potential Claim under Section 6.2,
Section 6.3 or Section 6.4, as the case may be. 
 Section 6.6. Limitation of Claims. 

(a) The Buyer and each of the Sellers agree for themselves and on behalf of their other Indemnified Parties, respectively, that with
respect to each indemnification obligation in this Agreement in no event shall the Indemnifying Party have liability to the Indemnified Party for any consequential, special, exemplary, incidental, indirect or punitive damages, lost profits or
similar items. In any case where an Indemnified Party actually recovers from a third person any amount in respect of a matter for which an Indemnifying Party has indemnified it pursuant to this Article VI, such Indemnified Party shall promptly pay
over to the Indemnifying Party the amount so recovered. Any breach of any representation or warranty of a party resulting from any actions taken (or omitted) by such party at the express written direction or request of the other party or in
complying with or performing its obligations under this Agreement shall not be deemed a breach of a representation or warranty for the purpose of Section 6.2, Section 6.3 or Section 6.4 of this Article VI. 

  
 34 

 (b) Each of the parties agrees to take all reasonable steps to mitigate their respective
Damages upon and after becoming aware of any event or condition which would reasonably be expected to give rise to any Damages that are indemnifiable hereunder. 
 (c) The Indemnifying Party shall be subrogated to any right of action which an Indemnified Party may have against another person with respect to any matter giving rise to any claim for indemnification
hereunder. 
 (d) None of the Indemnified Parties shall have any right to seek indemnification under Section 6.2,
Section 6.3 or Section 6.4, as the case may be, until Damages with respect to all indemnification claims against the Sellers, on the one hand, and the Buyer, on the other, in the aggregate pursuant to this Article VI, of the Indemnified
Parties exceed $2,000,000 (the “Threshold Amount”), after which time only the aggregate amount of such Damages in excess of the Threshold Amount shall be recoverable in accordance with the terms hereof. 

(e) None of the Indemnified Parties shall have any right to obtain any indemnification under Section 6.2, Section 6.3 or
Section 6.4 hereof to the extent amounts received by the Indemnified Parties in the aggregate as indemnification hereunder exceed $20,000,000 (the “Cap”). 

  
 35 

 Section 6.7. Indemnity Not Effective Until Consummation. The indemnification
provisions of this Article VI shall not be effective until the consummation of the Closing on the Closing Date. Following the Closing, and in the absence of fraud on the part of a Seller or the Buyer, as the case may be, in connection with the
transactions contemplated by this Agreement, the sole and exclusive remedy (in addition to any insurance coverage) for the breach of any representation, warranty, covenant or agreement contained in this Agreement shall be the indemnification
provided for in this Article. The Buyer acknowledges and understands that neither Seller shall have any repurchase obligation with respect to any Loan or Loan Document transferred to the Buyer pursuant to this Agreement. 

ARTICLE VII – CREDIT LOSSES 
 Section 7.1. Credit Loss Reimbursement Obligation. (a) For each twelve month period commencing as of the first date of the month following the month in which the Closing Date occurs, and
for each twelve-month period commencing as of each anniversary of such date through the fifth anniversary of such date (each such twelve-month period, a “Reimbursement Period”, and such five-year period, the “Reimbursement
Term”), the Sellers shall make reimbursement payments to the Buyer for “credit losses” incurred by the Buyer in connection 

  
 36 

 
with the Loans to the extent such payments are owing pursuant to this Article VII. The amount of any reimbursement payments to be paid by the Sellers to the Buyer shall be calculated pursuant to
this Article VII. For the purposes of this Agreement, “credit losses” shall mean credit losses incurred or charge-offs taken by the Buyer with respect to any Loans sold to the Buyer by the Sellers; provided that such credit losses or
charge-offs are taken by the Buyer in a manner consistent with its customary loan-loss and charge-off practices. 
 (b) Within
thirty (30) days of the end of any Reimbursement Period in which reimbursement payments are owed to the Buyer, the Buyer shall deliver to the Sellers a written reimbursement claim (a “Reimbursement Claim”) indicating the amount
of reimbursement payment owed to the Buyer by the Sellers for such Period. Such Reimbursement Claim shall set forth in reasonable detail the calculations used to determine the amount of such reimbursement payment, including (1) the average
aggregate monthly principal balance of all of the Loans in the relevant Reimbursement Period, (2) the Reimbursement Threshold Amount (as defined in Section 7.1(c) below) for the relevant Reimbursement Period, (3) credit losses
incurred or charge-offs taken during such Period, and (4) recoveries, if any, realized by the Buyer with respect to any Loans transferred pursuant to this Agreement and any loans (the “Charged-off Loans”) sold to the Buyer by
the Sellers pursuant to the terms of that Charged-off Loan Purchase Agreement dated as of December 15, 2011, by and among the Buyer and the Sellers (the “Charged-off Loan Agreement”). With thirty (30) days of its receipt
of any Reimbursement Claim, the Sellers shall either pay to the Buyer the amount of reimbursement payment indicated 

  
 37 

 
as owing in the Reimbursement Claim or communicate to the Buyer the basis upon which the Sellers disagree with the amount of the reimbursement payment indicated as owing in such Reimbursement
Claim. Should the Sellers disagree with the Buyers as to the amount of any reimbursement payment, the parties agree to cooperate to resolve any differences the parties may have with respect to such reimbursement payment. 

(c) The Buyer shall have no right to any reimbursement payment for a Reimbursement Period under this Article VII unless aggregate credit
losses with respect to the Loans during such period exceed .50% of the principal balance of all the Loans calculated based on an average aggregate monthly balance in the relevant Reimbursement Period (the “Reimbursement Threshold
Amount”), and in such case, only the aggregate amount of such credit losses in excess of the Reimbursement Threshold Amount shall be paid to the Buyer in accordance with the terms hereof. Any reimbursement payment owed for a Reimbursement
Period shall be reduced on a dollar for dollar basis to the extent of recoveries realized by the Buyer during such Reimbursement Period with respect to any Loans transferred pursuant to this Agreement and any Charged-off Loans. 

(d) The amount of the reimbursement payment payable to Buyer by the Sellers for any Reimbursement Period under this Article VII shall not
exceed $320,000 in the aggregate. 
 (e) The Sellers shall have no reimbursement obligation for any credit losses except as
provided in this Article VII. 

  
 38 

 (f) Notwithstanding anything to the contrary contained in this Agreement, the Sellers
understand, acknowledge and agree that the Buyer shall have no obligation to initiate or continue to pursue the recovery of any Charged-off Loans and that any such action shall be in Buyer’s sole discretion. 

ARTICLE VIII — INSURANCE INDEMNITY 
 Section 8.1. Casualty Losses. (a) The Buyer and the Sellers acknowledge that certain Loan Files with respect to Loans that constitute Wells Fargo Guam Mortgage Loans or Wells Fargo Saipan
Mortgage Loans may fail to show or contain adequate or customary evidence of insurance on the real property securing such Loans. 
 (b) The relevant Seller agrees that it will indemnify the Buyer for any casualty loss incurred by the Buyer with respect to any Wells Fargo Guam Mortgage Loan or Wells Fargo Saipan Mortgage Loan, as the
case may be, but only to the extent that such casualty loss arises by virtue of the fact that insurance policies, that are required to be maintained on the real property securing such Loan under the relevant Loan Documents, are not in place or have
otherwise lapsed or expired. For purposes hereof, a casualty loss shall equal the amount the Buyer would have recovered with respect to the casualty event had such insurance policies been in place or otherwise had not lapsed or expired. 

(c) Neither Seller shall have any indemnification obligation under Section 8.1(b)

  
 39 

 
unless (i) the event giving rise to any such casualty loss occurs within one hundred and twenty (120) days of the Closing Date and (ii) the relevant Seller receives written notice
from the Buyer of a claim for indemnification under Section 8.1(b) within two hundred ten (210) days of the Closing Date. Such written notice shall indicate the amount claimed to be owed along with an explanation of the facts supporting
the claim for indemnification. 
 (d) The Buyer shall have no any right to seek indemnification under Section 8.1(b) until
casualty losses with respect to all indemnification claims against the Sellers in the aggregate pursuant to Section 8.1(b) exceed $50,000, after which time, only the aggregate amount of such casualty losses in excess of such amount shall be
recoverable in accordance with the terms of the Article VIII. In addition, the Buyer shall have no right to obtain any indemnification under Section 8.1(a) to the extent amounts received by the Seller in the aggregate as indemnification
thereunder exceed $5,000,000. 
 ARTICLE IX 
 NON-COMPETITION 
 Section 9.1. Non-Compete. Each of Wells Fargo Guam
and Wells Fargo Saipan agrees that it shall not engage in the Business within Guam or the CNMI for a period of one (1) year from the Closing Date (the “Non-compete Period”). Nothing contained in this Section 9.1, however,
shall preclude either Seller (i) from acquiring, during the Non-compete Period, any 

  
 40 

 
business or making any investment in any venture that may engage in the Business within Guam, the CNMI or elsewhere; (ii) from succeeding in any manner or capacity, during the Non-compete
Period, to any business (including the Business) within Guam or the CNMI that currently is conducted by any affiliate of such Seller or that may be acquired by any such affiliate; (iii) servicing, administering or otherwise engaging in
collection efforts with respect to any of its assets in Guam or CNMI that are not to be sold, transferred or assigned to the Buyer hereunder or under the Charged-off Loan Agreement; or (iv) from providing any of the services contemplated by the
Interim Servicing Agreement or the Charged-off Loan Agreement. For the purposes of this Agreement, “Business” shall mean the origination and servicing of consumer loans secured by mortgages/deeds of trust encumbering real property
and other collateral, consumer loans unsecured or secured by automobiles and/or other personal property, and retail installment sales contracts and revolving charge agreements. 

  
 41 

 ARTICLE X 
 ACTIONS PENDING THE COMPLETION OF TRANSACTION 
 Section 10.1. Conduct of
the Sellers’ Business. From the date hereof and until the Closing Date, except as expressly contemplated or permitted by this Agreement, without the prior written consent of the Buyer, which consent shall not be unreasonably withheld, each
Seller will not: 
 (a) conduct its business other than in compliance with all applicable laws and in the ordinary and usual
course for a consumer lending business that is winding down its operations; 
 (b) change its material operating policies;

 (c) modify any Loan or grant any discretionary release of collateral or guarantees related to any Loan in a manner that is
inconsistent with its ordinary course of business or inconsistent with its policies and procedures in effect as of the date of this Agreement; or 
 (d) implement or adopt any change in its accounting principles, practices or methods that would materially affect the balance of the Loans to be acquired pursuant to this Agreement. 

ARTICLE XI — MISCELLANEOUS 
 Section 11.1. Further Instruments. Whenever and as often as it shall be requested to do so by any other party hereto, each party hereto (at the sole expense of the party requesting such

  
 42 

 
action) shall cause to be executed, acknowledged or delivered any and all such further instruments and documents as may be reasonably necessary or proper, to carry out the intent and purpose of
this Agreement. 
 Section 11.2. No Waiver. No waiver by any party of any breach of this Agreement or of any
warranty or representation hereunder shall be deemed a waiver of any other breach hereunder (whether preceding or succeeding and whether or not of the same or similar nature). 
 Section 11.3. No Third Party Beneficiaries. Nothing in this Agreement expressed or implied is intended to confer any rights or remedies upon any person, other than the parties hereto, and
subject to any restrictions on assignment herein contained, the respective successors and assigns of the parties hereto. 

Section 11.4. Amendments. This Agreement may be amended by written agreement of amendment executed by all parties, but not
otherwise. 
 Section 11.5. Public Announcements. From and after the date of this Agreement, the parties agree not
to make any public announcement or other disclosure concerning this Agreement or the transactions contemplated herein without obtaining the prior written consent of the other parties as to form, content and timing. On or after the Transfer Date or
at such other time as the parties may agree, the Buyer shall provide one or more written notices (which may at Buyer’s election be joint notices from the Sellers and the Buyer) to customers whose loans are to be transferred hereunder to
describe the proposed transactions, the effect on customers and planned transition procedures. 

  
 43 

 Section 11.6. Entire Agreement. Except with respect to that certain
Confidentiality Agreement dated as of August 26, 2011, by and between Wells Fargo & Company and the Buyer, this Agreement contains the entire agreement between the parties respecting the matters herein set forth and supersedes all
prior agreements between the parties hereto respecting such matters. 
 Section 11.7. Notices. Any notice which a
party is required or may desire to give any other party hereunder shall be in writing and may be sent by personal delivery, facsimile transmission or by mail (either (i) by United States registered or certified mail, return receipt requested,
postage prepaid, or (ii) by Federal Express or similar generally recognized overnight carrier regularly providing proof of delivery), addressed as follows (subject to the right of a party to designate a different address for itself by notice
similarly given): 
  

			
	To Seller:	  	Wells Fargo Financial Guam, Inc.
		  	Wells Fargo Financial Saipan, Inc.
		  	c/o Wells Fargo & Company
		
		  	Attention: James F. Powers
		  	MAC D1053-300
		  	One Wachovia Center

  
 44 

			
		  	301 South College Street
		  	Charlotte, North Carolina 28288
		  	Fax: (704) 715-4496
		
	To Buyer:	  	Bank of Guam
		  	Attention: Danilo M. Rapadas
		  	Senior Vice President
		  	General Counsel & Chief Risk Officer
		  	111 Chalan Santo Papa
		  	Hagatna, Guam 96910

 Any notice so given by mail shall be deemed to have been given as of the date of delivery (whether accepted or refused)
established by U.S. Post Office return receipt or the overnight carrier’s proof of delivery, as the case may be. Any notice given by personal delivery or by facsimiles transmission shall be deemed given upon delivery of the same to the party
addressed. 
 Section 11.8. Confidentiality. Seller and Buyer shall keep the terms of this Agreement strictly
confidential and shall not disclose or permit their respective affiliates, employees or agents to disclose the terms of this Agreement, except (i) as may be required by law, request of any regulator having jurisdiction over the disclosing
party, regulation or rule or (ii) for reasonably necessary disclosures to each of their respective attorneys, accountants, agents, lenders and representatives. 

  
 45 

 Section 11.9. Choice of Law; Jurisdiction; Waiver of Jury Trial. This Agreement
shall be governed by and construed, and the rights and obligations of the parties hereunder determined, in accordance with the internal laws of the State of California without regard for choice of law principles and the obligations, rights and
remedies of the parties hereto will be determined in accordance with such laws. Each party irrevocably consents to the service of process by mailing of a copy thereof, by registered mail, postage prepaid, to the party (with copyholders). THE PARTIES
HEREBY WAIVE ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. 

Section 11.10. No Joint Venture or Partnership. The parties hereby agree that nothing contained herein or in any document
executed in connection with the consummation of the transactions contemplated herein shall be construed as making the Sellers, on the one hand, and the Buyer, on the other, joint venturers or partners of one another. 

Section 11.11. No Regulation AB Disclosure by the Sellers. Notwithstanding anything in this Agreement to the contrary,
neither Seller will be obligated to provide to the Buyer any originator disclosure, servicer disclosure, or static pool information, as is contemplated by Regulation AB (Subpart 229.1100 – Asset Backed Securities, 17 C.F.R.
§§229.1100-229.1123, as such may be amended from time to time). 

  
 46 

 Section 11.12. Counterparts. This Agreement may be executed in any number of
counterparts so long as each signatory hereto executes at least one such counterpart. Each such counterpart shall constitute one original, but all such counterparts taken together shall constitute one and the same instrument. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 47 

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

			
	WELLS FARGO FINANCIAL GUAM, INC.
		
	By:	 	 /s/ Dean R. Anderson

	Name:	 	 Dean R. Anderson

	Title:	 	 President

	
	WELLS FARGO FINANCIAL SAIPAN, INC.
		
	By:	 	 /s/ Dean R. Anderson

	Name:	 	 Dean R. Anderson

	Title:	 	 President

	
	BANK OF GUAM
		
	By:	 	 /s/ William D. Leon Guerrero

	Name:	 	 William D. Leon Guerrero

	Title:	 	 EVP/Chief Operating Officer

  
 48Collaboration, Supply, Marketing and Distribution Agreement

 Exhibit 10.2 
 COLLABORATION, SUPPLY, MARKETING AND DISTRIBUTION AGREEMENT 
 This
Collaboration, Supply, Marketing and Distribution Agreement (this “Agreement”) is made as of October 18, 2011 (the “Effective Date”) by and between Galectin Therapeutics, Inc. (f/k/a Pro-Pharmaceuticals, Inc.),
a Nevada corporation, having a principal place of business at 7 Wells Avenue, Newton, MA 02459, USA (“ Galectin Therapeutics”) and Procaps S.A., a Colombian Company, having offices at Calle 80, Bo. 78B – 201, Barranquilla,
Colombia (“Procaps”). Galectin Therapeutics and Procaps are each a “Party” and are collectively referred to as the “Parties.” 

WHEREAS, Galectin Therapeutics is in the business of developing and commercializing drug therapies for cancer, as well as other diseases;

 WHEREAS, Procaps is in the business of importing, seeking approval for, obtaining pricing reimbursement approval for,
distributing, marketing and commercializing pharmaceutical products in the Territory (as defined below) and providing related services; and 
 WHEREAS, Procaps has offered to import, seek approval for, distribute, market and commercialize Galectin Therapeutics’ GM-CT-01 (DAVANAT®) product in the Territory and provide related services, and Galectin Therapeutics is willing to engage Procaps, in accordance with this Agreement; 

NOW THEREFORE, in consideration of the foregoing and the mutual promises and covenants contained herein, the adequacy of which each Party
hereby accepts, the Parties mutually agree as follows: 
  

	1.	DEFINITIONS 

 1.1.
“Affiliate” means, with respect to any Person, a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the first mentioned Person. 

1.2. “Approval Plan” has the meaning set forth in Section 4.2. 

1.3. “Business Day” means any day where the banks in New York, NY, USA are open. 

1.4. “Clinical Approvals” means any approval of any applicable Regulatory Authority necessary for the marketing and sale
of a pharmaceutical product in any country or regulatory jurisdiction in the Territory, excluding any separate pricing or reimbursement approvals that may be required in any country or regulatory jurisdiction in the Territory. 

1.5. “Combination Product” means any unified dose (e.g., not a kit of two separate and distinct drug dosage forms) of
pharmaceutical product which is comprised of the Product and other therapeutically active compound(s) and/or ingredient(s). 
 1.6. “Compound” means Galectin Therapeutics’ oncology product GM-CT-01 (DAVANAT®) which will be renamed for distribution in Colombia and Latin America. 
 1.7. “Confidential Information” has the meaning set forth in Section 15.1. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 1 

 1.8. “Diligent Efforts” means, with respect to Procaps’ obligations
under this Agreement to Pursue Approval or Market and Distribute the Product, the carrying out of such obligations or tasks in a sustained and diligent manner consistent with the reasonable best practices of the pharmaceutical industry for the
approval or marketing and distribution of a high priority pharmaceutical product at a similar stage of development or commercialization. 
 1.9. “Excess Amount” has the meaning set forth in Section 8.1. 
 1.10. “Field” means the treatment of cancer using a regimen containing 5-FU. 
 1.11. “First Commercial Sale” has the meaning set forth in Section 11.2. 
 1.12. “Formulated Dose” means the dose for the Product, which shall be a single unit, 10ml sterile vial (60mg/ml). 

1.13. “Galectin Therapeutics Patents” means all patents and patent applications that (a) are controlled as of the
Effective Date or are filed or granted during the term of the Agreement by Galectin Therapeutics or its Affiliates and that claim the composition of matter, manufacture, or use of the Compound or Product, (b) are substitutions, divisions,
continuations, continuations-in-part (to the extent directed to the subject matter disclosed in a patent or patent application described in (a)) and requests for continued examination of any of the foregoing, (c) are patents arising from or
claiming priority to any of the foregoing, (d) are reissues, renewals, registrations, confirmations, re-examinations, extensions, and supplementary protection certificates of any of the foregoing, and/or (e) all foreign equivalents of any
of the foregoing. For the avoidance of doubt, the Galectin Therapeutics Patents shall include any patent or application claiming Product Related IP Rights to the extent that such patent or patent application claims the composition of matter,
manufacture, or use of the Compound or Product. 
 1.14. “Initial Approval Plan” has the meaning set forth in
Section 4.3. 
 1.15. “Licensed Marks” means the trademarks, trade names, names, brands, logos, symbols,
and other proprietary designations of Galectin Therapeutics as set forth on Exhibit A, as may be updated from time to time by Galectin Therapeutics. 
 1.16. “Market and Distribute” (and its other forms including Markets and Distributes, Marketing and Distributing, Marketing and Distribution, etc.) means to sell, market, promote and/or
distribute Product and obtain remittance for said Product in the Field in the Territory. 
 1.17. “Marketing and
Distribution Plan” means a written Marketing and Distribution plan setting forth anticipated Marketing and Distribution activities to be performed with respect to the Product in the Field in the Territory by Procaps or on its behalf by
approved contractors (including without limitation market studies, launch plans, detailing and promotion), as well as projected timelines for such activities. 
 1.18. “Maximum Amount” means one hundred twenty percent (120%) of the amount of Compound forecasted by Procaps to be needed by it as set forth in the then current Marketing and
Distribution Plan. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 2 

 1.19. “Net Sales” means the gross amount invoiced by Procaps or its
Affiliates for sales of the Product in the Territory to a Third Party, less: (a) financial discounts to recover receipts; (b) recalls and (c) returns; in each case actually taken and provided that any deductions for items (a),
(b) and (c) above shall not exceed ten percent (10%) of the Sales Price. Net Sales shall be calculated in United States dollars pursuant to Section 11.4. A credit will be given on the subsequent order for any amounts owing for
deductions due to (a), (b) or (c) above. 
 With respect to any sale or other disposal of any Product for any
consideration other than exclusively monetary consideration on arm’s length terms, for purposes of calculating the gross sales amount necessary to calculate the Net Sales under this Agreement, such Product shall be deemed to be sold exclusively
for money at the average sale price charged to Third Parties for cash sales during the applicable reporting period. 
 Net Sales
shall be determined in accordance with generally accepted accounting principles in the United States. 
 1.20.
“Person” means an individual, corporation, partnership, association, trust, unincorporated organization or other entity. 
 1.21. “Procaps” has the meaning set forth in the first paragraph of this Agreement. 
 1.22. “Product” means the final formulation of the Compound, including fill and finish, for which Regulatory Approval has been received, and any accompanying instructions for use and any
other documentation and materials provided by Galectin Therapeutics as a package with, or for use with, such product, as may be modified by Galectin Therapeutics. 
 1.23. “Product Order” has the meaning set forth in Section 10.1. 
 1.24. “Product Related IP Rights” has the meaning set forth in Section 14.1 
 1.25. “Purchaser” shall mean a doctor, hospital, clinic or any other entity purchasing the Product from Procaps for administration to patients. 

1.26. “Pursue Approval” (and its other forms including Pursues Approval, Pursuing Approval, Approval Pursuit, etc.)
means all activities that relate to (a) obtaining, maintaining or expanding Regulatory Approval of the Product or (b) developing the ability to formulate, fill and finish commercial quantities of the Product. This includes, without
limitation, (i) formulation and manufacturing-related technology development; (ii) preparation, submission, review, and development of data or information for the purpose of submission to a governmental authority to obtain, maintain and/or
expand Regulatory Approval of the Product, including pricing approval, and outside regulatory services related thereto; (iii) fill/finish work associated with the supply of Product for Regulatory Approval and commercial supplies, and related
quality assurance technical support activities; (iv) stability studies; (v) clinical trials, (vi) post-Regulatory Approval product support for the Product (including manufacturing and quality assurance technical support, efforts
directed toward the further understanding of the safety and efficacy of Product and clinical trials); and (vii) Product-related medical affairs (including regulatory support necessary for product maintenance). 

1.27. “Regulatory Approvals” means any approval of any applicable Regulatory Authority necessary for the marketing and
sale of a pharmaceutical product in any country or regulatory jurisdiction in the Territory, including any separate pricing or reimbursement approvals that may be required in any country or regulatory jurisdiction in the Territory.

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 3 

 1.28. “Regulatory Authority” means any federal, national, multi-national,
state, provincial or local regulatory agency, department, bureau or other governmental entity with authority over the marketing or sale of pharmaceutical products. 
 1.29. “Regulatory Materials” means regulatory applications, submissions, notifications, registrations, Regulatory Approvals and/or other filings made to or with a Regulatory Authority
that are necessary or reasonably desirable in order to Pursue Approval, manufacture, or Market and Distribute the Product in a particular country or regulatory jurisdiction. 
 1.30. “RFN Eligible Countries” shall mean the countries in South and Central America other than Columbia. For the avoidance of doubt, Mexico and the Caribbean are not RFN Eligible
Countries. 
 1.31. “RFN Notice” has the meaning set forth in Section 2.3. 

1.32. “RFN Term” has the meaning set forth in Section 2.3. 

1.33. “Sales Price” shall initially be $[****] USD per Formulated Dose, subject to change pursuant to Sections 2.1 and
9.1. 
 1.34. “Specifications” means the applicable release specifications for Compound agreed to by the
Parties and set out in Exhibit B attached hereto and incorporated herein, as may be amended from time to time by mutual agreement of the Parties. 
 1.35. “Term” has the meaning set forth in Section 18. 

1.36. “Territory” means Columbia and such RFN Eligible Countries, if any, to which Galectin Therapeutics grants Procaps
exclusive distribution rights to the Product pursuant to Section 2.3. 
 1.37. “Third Party” means any
Person not a Party to this Agreement, excluding any Affiliate of either Party. 
 1.38. “Transfer Price” means
the total price at which Galectin Therapeutics will sell the Compound to Procaps, which shall be [****] percent ([****]%) of the Sales Price. The Sales Price shall be $[****] for Colombia and can only be changed by mutual agreement. The Transfer
Price may be different for each RFN Eligible Country, if any, for which Galectin Therapeutics grants Procaps exclusive distributions rights to the Product pursuant to Section 2.3, as determined by mutual agreement of the Parties. Under no
circumstances will the Transfer Price be less than $[****] in any country. If it is determined that a country(ies) to which Procaps has exclusive distribution rights to the Product will not support a final sales price of $[****], the Parties may
mutually decide not to pursue approval in such country(ies). The transfer price for all RFN Eligible Countries will be a maximum of $[****]. 
  

	2.	APPOINTMENT OF PROCAPS 

2.1. Scope of Arrangement. Subject to the terms and conditions of this Agreement, Galectin Therapeutics hereby grants Procaps
exclusive rights during the term of this Agreement, and Procaps 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 4 

 
accepts such appointment, to Market and Distribute Product solely in the Territory in the Field to Purchasers. However, Galectin Therapeutics may render this arrangement non-exclusive upon
written notice to Procaps in accordance with the provisions of Sections 19.1. Procaps shall purchase Compound exclusively from Galectin Therapeutics and Market and Distribute the Product for its own account and this Agreement does not make Procaps
an agent of Galectin Therapeutics for any purpose. Procaps shall not purchase or make Product other than through the purchase of Compound from Galectin Therapeutics pursuant to the terms of this Agreement. Procaps shall not sell Product as a
Combination Product without the prior written consent of Galectin Therapeutics. If Galectin Therapeutics consents to the sale by Procaps of a Combination Product, the parties shall mutually agree upon changes, if any, to the definitions of
Formulated Dose, Transfer Price and Sales Price for purposes of the Combination Product only to reflect any difference in the quantity of Compound in a dose of the Combination Product. In addition, and subject to the terms and conditions of this
Agreement, Procaps shall perform the additional responsibilities set forth in this Agreement. Procaps shall not outsource or otherwise delegate any of its rights or obligations under this Agreement to any Third Party unless pre-approved in writing
by Galectin Therapeutics. 
 2.2. Reservation of Rights. All rights not expressly granted to Procaps are reserved to
Galectin Therapeutics, including, without limitation the right to Market and Distribute the Compound or Product outside the Territory itself or through one or more other Persons. 

2.3 Right of First Negotiation. Following the Regulatory Approval and for a period ending [****] months after the First Commercial
Sale of the Product in Columbia (the “RFN Term”) and provided that Procaps is not in breach of this Agreement, Procaps may provide Galectin Therapeutics written notice (the “RFN Notice”) that it wishes to exercise
its right of first negotiation to procure distribution rights to the Product in the Field for those RFN Eligible Countries specified in the RFN Notice; provided however, with respect to Argentina and Brazil only, the RFN Term shall end [****] months
after Regulatory Approval of the Product in Colombia, unless the RFN Term and Procaps’ right of first negotiation is terminated earlier pursuant to this Agreement. Thereafter, Procaps shall not have a right of first negotiation for any other
country or jurisdiction not specified in the RFN Notice. Galectin Therapeutics and Procaps shall negotiate in good faith an amendment to this Agreement or a separate commercial agreement (such amendment or new agreement, the “RFN
Agreement”) which will include an upfront license payment, Transfer Price for the Compound, royalties on Net Sales and other business terms and conditions typically found in similar commercial agreements, under which Procaps shall be
granted the exclusive distribution rights to the Product in the Field in the RFN Eligible Countries specified in the RFN Notice. The rights granted to Procaps to the Compound and the Product in the RFN Agreement shall be non-exclusive and Galectin
Therapeutics have the right to terminate the RFN Agreement upon ten (10) days prior notice until Galectin Therapeutics receives all upfront license payments provided for in the RFN Agreement, at which point the exclusivity and termination
rights shall revert to those set forth in the RFN Agreement. 
 The upfront license payment for each RFN Eligible Country in the
RFN Notice shall be determined using the following model: 
 Based on the assumption that the license fee for Colombia [****] USD ([****]), then
the maximum upfront license fee for each RFN Eligible Country in the RFN Notice will be a ratio of the population of that country to the population of Colombia. Population estimates will be from a source agreed to by both parties. The license fee
may be adjusted for the specific economic situation of each RFN Eligible Country in the RFN Notice. For example, if the population of Colombia is estimated to be 49,000,000 (August 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 5 

 
2011), and the population of Venezuela is estimated to be 29,000,000 (August 2011 - Source True Knowledge), then the upfront license fee due for Venezuela would be $[****]. The upfront license
fee for each country added pursuant to the RFN Agreement will be paid according to the following schedule; [****]% is due within ten (10) days of signing of the RFN Agreement for that country, and [****]% is due within ten (10) days of
Regulatory Approval of the Product in such country. If Regulatory Approval is not received in a country, the [****]% of the upfront license fee for such country will not be due; provided, however, that the [****]% of the upfront license fee paid to
Galectin Therapeutics for each country added pursuant to the RFN Agreement is non-refundable and non-creditable. The parties understand and agree that agreement on the upfront license fee to be paid for one or more RFN Eligible Country(ies) shall
not obligate either party to enter an RFN Agreement for such country and that additional terms including, without limitation, the Transfer Price for the Compound, the Sales Price, royalties and/or milestones on Net Sales and other business terms and
conditions must be negotiated and agreed upon. 
 Procaps shall provide Galectin Therapeutics within thirty (30) days of Procaps’
issuance of the RFN Notice an approval plan for the Product in the RFN Eligible Countries in the RFN Notice describing the proposed overall program of Approval Pursuit, including stability studies, fill and finish production, process development,
regulatory plans and other elements of obtaining Regulatory Approval(s), as well as timelines for key regulatory authority meetings, drug approval applications and Regulatory Approvals. If the Parties are unable to reach an agreement with respect to
one or more of the countries within ninety (90) days of Galectin Therapeutics’ receipt of the RFN Notice, Procaps shall have no further contractual rights to negotiation with respect to such countries. If, during the RFN Term, and after
Procaps has send the RFN notice, Galectin Therapeutics’ desires to distribute or commercialize the Compound or Product in one or more RFN Eligible Countries for which Procaps has not sent a RFN Notice, Galectin Therapeutics shall provide
written notice to Procaps identifying such countries and Procaps shall have ten (10) Business Days in which to send an RFN Notice with respect to such countries. If Procaps does not send an RFN Notice with respect to such RFN Eligible Countries
identified by Galectin Therapeutics within ten (10) Business Days, its right of first negotiation and the RFN Term for such RFN Eligible Countries shall immediately expire. 

 

	3.	GOVERNANCE 

 3.1. Joint
Steering Committee. Within thirty (30) days after the Effective Date, Galectin Therapeutics and Procaps shall form a joint steering committee (“JSC”) consisting of three (3) representatives from Galectin Therapeutics
or one of its Affiliates and three (3) representatives from Procaps. Each Party may replace its JSC representatives at any time upon prior written notice to the other Party. JSC membership shall evolve over time as the Agreement progresses so
that each Party’s combined membership represents the key functions (such as Approval Pursuit, manufacturing or Marketing and Distribution) that are the current focus of work on the Product. 

3.2. Meetings of the JSC. The JSC shall meet at least four (4) times every calendar year unless a particular meeting is
waived by mutual consent, on such dates and at such times as agreed to by the Parties, alternating between Galectin Therapeutics’ and Procaps’ places of business, or such other mutually agreeable locations. Each Party may permit visitors
to attend meetings of the JSC; provided that (i) such Party provides the other Party at least twenty (20) days notice of its intent to bring such visitor(s) to the JSC meeting, providing a reasonable description of such visitor(s) and the
purpose of their attendance; (ii) the other Party does not object in writing to such visitor(s) attendance within five (5) days of receipt of such notice, and (iii) each such visitor has executed prior to attendance a confidentiality

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 6 

 
agreement with each Party containing restrictions on disclosure and use substantially similar to Section 15 of this Agreement. Each Party shall be responsible for its own expenses for
participating in the JSC. Meetings of the JSC shall be effective only if at least one representative of each Party is present and participating. 
 3.3. Responsibilities of the JSC. The JSC shall have the responsibility and authority to: 
 (a) Oversee the Approval Pursuit, Regulatory Approval, and Marketing and Distribution of the Product in the Field in the Territory in support of such activities; 

(b) Review and approve the overall strategy for Approval Pursuit in the Field in the Territory; 

(c) Review and approve any proposed amendments or updates to the Approval Plan; 

(d) Monitor the Approval Pursuit of the Product in the Field in the Territory against the Approval Plan; 

(e) Discuss the requirements for Regulatory Approval in applicable countries in the Territory and oversee regulatory matters with respect
to the Product in the Territory; 
 (f) Review the Marketing and Distribution Plan and any proposed amendments or updates
thereto; 
 (g) Monitor the Marketing and Distribution of the Product in the Territory against the Marketing and Distribution
Plan; 
 (h) Monitor, review and oversee safety issues that may arise from use of the Product in Colombia including, but not
limited to, potential recalls, market withdrawals and regulatory issues and responses; 
 (i) Establish subcommittees pursuant
to Section 3.6 on an as-needed basis, oversee the activities of all subcommittees so established, and address disputes or disagreements arising in all such subcommittees; and 

(j) Perform such other functions as the Parties may agree in writing. 

3.4. Areas Outside the JSC’s Authority. Neither the JSC nor the Chief Executive Officer of Galectin Therapeutics acting
through the authority provided in Section 3.5(b) herein shall have any authority other than that expressly set forth in Section 3.3 and, specifically, shall have no authority (a) to amend or interpret this Agreement, (b) to
determine whether or not a Party has met its diligence or other obligations under the Agreement, or (c) to determine whether or not a breach of this Agreement has occurred. 

3.5. JSC Decisions. 
 (a) Consensus; Good Faith; Action Without Meeting. The JSC shall decide all matters by consensus, with the Chairperson acting as the facilitator, except in the case of safety issues, such as the
disposition of adverse events or recalls, which shall be decided by the Joint Safety 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 7 

 
Management Committee pursuant to Section 3.6. Consistent with Section 3.7, the members of the JSC shall act in good faith to cooperate with one another and to reach agreement with
respect to issues to be decided by the JSC. Action that may be taken at a meeting of the JSC also may be taken without a meeting if a written consent setting forth the action so taken is signed by all members of the JSC. 

(b) Failure to Reach Consensus. Except as set forth in Section 3.6, in the event that the members of the JSC cannot come to
consensus within fifteen (15) days with respect to any matter over which the JSC has authority and responsibility, the JSC shall submit the respective positions of the Parties with respect to such matter for discussion in good faith by the
Parties’ respective Chief Executive Officers or their respective designees. If such individuals are not able to mutually agree upon the resolution to such matter within fifteen (15) days after the JSC’s submission to them, then the
Chief Executive Officer of Galectin Therapeutics shall have the right to decide such matter, taking into account and seeking reasonably to accommodate (i) Procaps’ legitimate interest under the Agreement and (ii) the operating
principals in Section 3.7; provided, that in no event can the Chief Executive Officer of Galectin Therapeutics unilaterally decide such matter in a manner that would violate the limitations set forth in Section 3.4 or increase
Procaps’ costs to Pursue Approval or Market and Distribute the Product greater than ten percent (10%) of the amount set forth in the then current Approval Plan or Marketing and Distribution Plan, as applicable, unless such increase is
necessitated by the requirement, order or request of a Regulatory Authority. Notwithstanding the foregoing, consensus of the JSC or mutual agreement of the Chief Executive Officers shall be necessary with respect to any decision that materially
impairs or is reasonably likely to impair any rights or assets of either Party or any of their respective Affiliates, and unless and until the JSC reaches consensus or the Chief Executive Officers reach mutual agreement on any such matter, the
Parties shall continue to operate under the status quo with respect to such matter and neither Party shall have the right, without the prior written consent of the other Party, to take any action that departs from the status quo with respect to such
matter. 
 3.6. Subcommittees. 
 (a) The JSC shall establish the Joint Safety Management Committee (“JSMC”) as a subcommittee to the JSC, the primary purpose of which shall be to monitor, review, oversee and authorize such
actions as necessary to address safety issues that may arise from use of the Product in the Territory including, but not limited to, potential recalls, market withdrawals and regulatory issues and responses. The JSMC shall take into account the
requirements, regulations and guidance of Regulatory Authorities in the Territory as well as the United States, Europe and Japan in fulfilling its duties. The JSMC shall consist of the Chief Medical Officer of each Party and up to one additional
member designated by each Party. Each Party shall have one vote on the JSMC. In the event the representatives of the Parties on the JSMC are unable to reach agreement on a matter, the Chief Medical Officer of Galectin Therapeutics shall have
responsibility for the final decision. 
 (b) The JSC shall have the right to establish subcommittees and to delegate certain of
its powers and responsibilities thereto. Except as mutually agreed by the Parties, such subcommittees shall decide all matters by consensus, with each Party having one collective vote, and any disputes that cannot be resolved by a subcommittee in a
reasonable time period shall be submitted to the JSC for resolution in accordance with Section 3.5. 
 3.7. Operating
Principles. The Parties hereby acknowledge and agree that the deliberations and decision-making of the JSC and any subcommittee established by the JSC shall be in accordance with the following operating principle: 

(a) The Parties’ mutual objective is to maximize the commercial success of the Product in the Field in the Territory, consistent
with sound and ethical business and scientific practices. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 8 

 3.8. Termination of JSC. The JSC shall continue to exist until the first to occur of:
(a) the Parties mutually agreeing to disband the committee; or (b) Galectin Therapeutics providing to Procaps written notice of its intention to disband and no longer participate in the JSC. Thereafter, the JSC shall have no further
obligations under this Agreement, and Procaps shall continue to provide to Galectin Therapeutics the reports, summaries, correspondences, notices, minutes, etc. and take such actions and provide such rights to Galectin Therapeutics as required by
this Agreement. 
  

	4.	APPROVAL PURSUIT 

 4.1.
Overview. Subject to the oversight of the JSC, Procaps shall be responsible for Approval Pursuit of the Product in the Field in the Territory. Procaps shall perform all Approval Pursuit activities in accordance with the Approval Plan. The
costs of Approval Pursuit shall be borne by Procaps. 
 4.2. Approval Project Plan. 

(a) Scope. The Approval Pursuit of the Product under this Agreement shall be governed by an Approval Pursuit Project plan for the
Field in the Territory (the “Approval Plan”). The Approval Plan shall be developed in good faith with the overall objective of optimizing the commercial potential of the Product in the Field in the Territory. The Approval Plan shall
describe the proposed overall program of Approval Pursuit for the Product in the field in Colombia, including stability studies, fill and finish production, process development, regulatory plans, clinical trials required for Regulatory Approval and
other elements of obtaining Regulatory Approval(s) in Colombia as well as timelines for key regulatory authority meetings, drug approval applications and Regulatory Approvals. In the event of any inconsistency between the Approval Plan and this
Agreement, the terms of this Agreement shall prevail. 
 (b) Initial Approval Plan. Within ten (10) days after the
Effective Date, Procaps shall provide Galectin Therapeutics with a draft Approval Plan for Galectin Therapeutics’ review. The Parties shall use commercially reasonable efforts to reach agreement on the initial Approval Plan within thirty
(30) days after the Effective Date (the “Initial Approval Plan”). The Parties may agree to extend the period in which to reach mutual agreement on the Initial Approval Plan, but no later than forty-five (45) days after the
Effective Date. 
 4.3. Updates to the Approval Plans. As early as necessary in each calendar year,
Procaps shall update and prepare the Approval Plan for the following calendar year to take into account completion, commencement or cessation of Approval Pursuit activities not contemplated by the then-current Approval Plan, and submit such proposed
Approval Plan to the JSC no later than February 15th
of such year for review and approval. Procaps may, at its election, update the Approval Plan between annual updates subject to review and approval by the JSC. If additional countries are added to the Territory, Procaps shall present a revised
Approval Plan to the JSC with thirty (30) days of the addition of such countries to the Territory for review and approval. Notwithstanding the above, the JSC will review the Approval Plan, progress to the Approval Plan and updates at each JSC
meeting. 
 4.4. Diligent Approval Pursuit. Procaps shall use Diligent Efforts to Pursue Approval of the Product in the
Field in the Territory. Without limiting the generality of the foregoing, Procaps shall, 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 9 

 
among other things, receive Regulatory Approval of the Product in Colombia by June 15, 2012. Any failure by Procaps to comply with the obligations set forth in this Section 4.4 shall be
deemed to be a material breach of this Agreement, for which Galectin Therapeutics may exercise its rights under Section 19 to terminate this Agreement. 
 4.5. Approval Reports. Procaps shall maintain complete and accurate records (in the form of technical notebooks and/or electronic files where appropriate) of all work conducted by it under the
Approval Plan and all information and data resulting from such work. Such records, including any electronic files, shall fully and properly reflect all work done and results achieved in the performance of the Approval Plan in sufficient detail and
in good scientific manner appropriate for patent and regulatory purposes. Galectin Therapeutics shall have the right to review such records maintained by Procaps at reasonable times upon reasonable notice. Procaps shall provide Galectin
Therapeutics: 
 (a) with regular reports detailing its Approval Pursuit activities under the Approval Plan and the results of
such activities; 
 (b) on or before January 31 and July 31 of each calendar year during the term of this Agreement,
with a written report that summarizes, in reasonable detail, all Approval Pursuit activities performed by Procaps, its Affiliates, and approved contractors during the preceding six (6) month period, and compares such performance with the goals
and timelines set forth in the Approval Plan; and 
 (c) with any additional information regarding its Approval Pursuit of the
Product reasonably requested thereby. 
 4.6. Standards of Conduct. Procaps shall perform, and shall ensure that its
Affiliates, and approved contractors perform, the Approval Pursuit activities for which it is responsible under the Approval Plan in good scientific and regulatory manner and in material compliance with applicable laws, rules and regulations.

  

	5.	REGULATORY 

 5.1.
Regulatory Filings 
 (a) Procaps shall be responsible for preparing and filing all Regulatory Materials, including
without limitation furnishing timely notice of all side effects, drug interactions and other adverse effects identified or suspected with respect to the Product, and seeking all Regulatory Approvals in the Territory. All Regulatory Materials for the
Product in the Territory shall be filed in the name of Galectin Therapeutics, and Procaps alone shall be responsible for all communications and other dealings with the Regulatory Authorities relating to the Product in the Territory, except as
required by a Regulatory Authority; provided that such communications and dealings have been agreed upon by the JSC or its applicable subcommittees and/or Galectin Therapeutics. To the maximum extent permitted by law, Galectin Therapeutics shall be
the legal and beneficial owner of all Regulatory Approvals and Regulatory Materials in the Territory or in the event such Regulatory Approvals and/or Regulatory Materials may not be owned by Galectin Therapeutics, they shall be held for the benefit
of Galectin Therapeutics and shall be transferable as directed by Galectin Therapeutics. In the event that any such Regulatory Approvals and/or Regulatory Materials are not transferable to Galectin Therapeutics, then upon expiration or termination
of this Agreement or earlier upon request of Galectin Therapeutics, 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 10 

 
Procaps shall use its best efforts to assist Galectin Therapeutics in obtaining Regulatory Approvals and/or Regulatory Materials substantially similar to the non-transferable Regulatory Approvals
and/or Regulatory Materials. 
 (b) The JSC shall develop and implement procedures for drafting and review of Regulatory
Materials for the Product in the Territory, which shall provide sufficient time for Galectin Therapeutics to provide substantive comments. Procaps shall consider Galectin Therapeutics comments on such Regulatory Materials in good faith. 

(c) Procaps shall promptly notify Galectin Therapeutics of all Regulatory Materials that it submits, and, at Galectin Therapeutics’
request, shall promptly provide Galectin Therapeutics with a copy (which may be wholly or partly in electronic form) of such Regulatory Materials. Procaps will provide Galectin Therapeutics with reasonable advance notice of any scheduled meeting
with any regulatory agency relating to Approval Pursuit and/or any Regulatory Approval in Colombia, and Galectin Therapeutics shall have the right to participate in any such meeting, to the extent permitted by law. Procaps also shall promptly
furnish Galectin Therapeutics with summaries of all material correspondence or material meetings with any Regulatory Authority relating to Approval Pursuit, Regulatory Materials and/or a Regulatory Approval in the Territory, and Procaps shall, at
Galectin Therapeutics’ request, promptly furnish Galectin Therapeutics with copies of such correspondence or copies of minutes of such meetings in both Spanish and English, if requested. 

5.2. Product Withdrawals and Recalls. In the event that any Regulatory Authority (a) threatens or initiates any action to
remove the Product from the market in any country in the Territory or (b) requires Procaps or its Affiliates to distribute a “Dear Doctor” letter or its equivalent regarding use of the Product in the Field, Procaps shall notify
Galectin Therapeutics and the JSMC of such event within one (1) business day after Procaps becomes aware of the action, threat, or requirement (as applicable). The JSMC shall immediately evaluate the request of such Regulatory Authority prior
to initiating a recall or withdrawal of the Product in Colombia; provided, however, the JSMC shall review the recall information and medical data within five (5) business days. If the JMSC does not reach and agreement within five
(5) business days the final decision as to whether to recall or withdraw the Product or take other remedial action in Colombia pursuant to Section 3.6, will be the responsibility of the CMO of Galectin Therapeutics. Galectin Therapeutics
will be responsible, at its sole expense, for conducting any recalls or taking such other necessary remedial action if the recall is related to the Compound. If the recall or remedial action is the result of Procaps process, quality, fill and finish
or marketing or violation of any laws, regulations, rules or guidelines or the breach of this Agreement, Procaps shall be responsible for the expense of such recall or remedial action. Procaps shall maintain complete distribution records by
Purchaser, and by unique patient code and batch number for all Product Marketed and Distributed within the Territory in accordance with Galectin Therapeutics’ procedures and instructions. If either Party becomes aware of information about the
Product indicating that it may not conform to the specifications for the Product, or that there are potential adulteration, misbranding and/or other issues regarding safety or effectiveness, it shall promptly so notify the other Party. The Parties
shall discuss such circumstances and consider appropriate courses of action. Galectin Therapeutics shall control all recalls of Product. Each Party will maintain complete and accurate recall records relating to the Product for any periods that are
required by applicable laws, rules or regulations. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 11 

	6.	MARKETING AND DISTRIBUTION 

6.1. General. Procaps shall have sole responsibility and decision-making authority for Marketing and Distribution activities, all
of which shall be carried out in accordance with the Marketing and Distribution Plan. Procaps shall be responsible for all costs and expenses associated with the Marketing and Distribution activities. 

6.2. Marketing and Distribution Plan. 
 (a) Procaps shall deliver to the JSC upon the formation of the JSC for its review and comment the draft Marketing and Distribution Plan which shall at such time be set forth in Exhibit C. Procaps
shall implement all such reasonable comments received from the JSC and shall submit such revised document to the JSC for review. The JSC shall approve the final initial Marketing and Distribution Plan within forty-five (45) days after the
Regulatory Approval for the Product in Colombia. 
 (b) Procaps shall thereafter update the Marketing and
Distribution Plan on a semi-annual basis as follows: Procaps shall provide the JSC with a draft update to the Marketing and Distribution Plan within forty-five (45) days of the anniversary of the Effective Date and within forty-five
(45) days of the sixth (6th) month after such
anniversary. Procaps shall implement all such comments received from the JSC and shall submit such revised document to the JSC for review. Procaps may, at its election, update the Marketing and Distribution Plan between annual updates by following
this same procedure. If additional countries are added to the Territory, Procaps shall present a revised Marketing and Distribution Plan to the JSC with thirty (30) days of the addition of such countries to the Territory for review and
approval. 
 (c) The Marketing and Distribution Plan shall include, without limitation: (i) a description of Procaps’
anticipated marketing activities (both pre- and post-launch), including the plans to use key opinion leaders and focus groups; (ii) four (4) year sales projections, broken down by calendar quarter; (iii) any requirements for
additional marketing studies, including without limitation clinical trials appropriate to meet the objectives set forth in Section 3.7; (iv) competitive analysis including specific actions to mitigate competitive threats; (v) planned
promotional material and sales/detailing protocols and (vi) a forecast of the amount of Compound to be purchased from Galectin Therapeutics in each of the next four (4) calendar quarters. Each annual Marketing and Distribution Plan shall
have the minimum annual sales targets set forth in Exhibit D. The minimum annual sales targets after the first year of this Agreement may be updated, but not reduced for the first four (4) years of this Agreement, upon the mutual
agreement of the Parties. The failure of Procaps to meet a minimum annual sales target shall be deemed a material breach of this Agreement. 
 (d) In the event of any inconsistency between the Marketing and Distribution Plan and this Agreement, the terms of this Agreement shall prevail. 

6.3. Diligent Commercialization. Procaps shall use Diligent Efforts to Market and Distribute the Product in the Field in the
Territory in each country for which a Regulatory Approval has been received. Without limiting the generality of the foregoing, Procaps shall satisfy each of the following requirements: 

(a) commence commercial sales of the Product to end users in a country, in commercially significant quantities, promptly after, and in
any case not later than three (3) months after, the date upon which Regulatory Approval and any necessary pricing approval for the Product is granted with respect to such country. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 12 

 (b) undertake a sales effort commensurate with optimizing the gross sales of the Product in
the Territory taking full advantage of the resources of Procaps and its Affiliates, which shall include a competent marketing and sales organization. 
 (c) assist Galectin Therapeutics, at and to the extent of its request, in designing and constructing a Spanish language website for the Product. 

(d) develop a market for the Product, and enhance Galectin Therapeutics’ image in the marketplace as a provider of quality
pharmaceuticals. 
 Any failure by Procaps to comply with the obligations set forth in this Section 6.3 shall be deemed to be a material
breach of this Agreement for which Galectin Therapeutics may exercise its rights under Section 19 to terminate this Agreement or any other available remedies at law or in equity. 

6.4. Marketing and Distribution Reports. Procaps shall: 
 (a) Keep the JSC fully informed regarding the progress and results of its Marketing and Distribution activities and those of its Affiliates and approved contractors, agents, etc. 

(b) Within thirty (30) days after the end of each calendar quarter, provide the JSC with a written report that (i) summarizes,
in reasonable detail, all Marketing and Distribution activities performed during such quarter, (ii) compares such performance with the goals and timelines set forth in the Marketing and Distribution Plan, (iii) describes the sales, market
share, business trends and key marketing issues of or related to the Product, (iv) contains (A) a list of all Product Distributed per Purchaser and patient code, (B) an action plan to resolve and issues and sales discrepancies, and
(C) any other information as Galectin Therapeutics may reasonably request. 
 (c) Also promptly provide the JSC or Galectin
Therapeutics with any additional information or data regarding the Marketing and Distribution of the Product reasonably requested thereby. 
 6.5. Safety and Product Reports. Within ten (10) Business Days following the end of every calendar quarter, Procaps shall provide Galectin Therapeutics with a report related to
pharmacovigelence during the calendar quarter, which shall contain: (a) all Product safety information reported to Procaps during such calendar quarter, (b) any other comments or information reported to Procaps regarding the Product, and
(c) any other information as Galectin Therapeutics may reasonably request. In addition, Procaps will maintain safety information, including information contained in the safety reports, in an organized and up to date manner at all times so that
it can be provided to Galectin Therapeutics upon request. Procaps shall notify Galectin Therapeutics in writing of any serious adverse events potentially relating to the Product within twenty four (24) hours of such event, including, but not
limited to, an unexpected event, injury, toxicity or sensitivity reaction or any unexpected incidents of which Procaps becomes aware, in accordance with all applicable laws and regulations including without limitation the International Committee of
Harmonization guidelines (hereinafter the “ICH Guidelines”) to the extent that such ICH Guidelines comport with U.S. FDA guidelines. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 13 

 6.6. Marketing and Distribution Standards of Conduct. Procaps shall in all respects
comply with all applicable laws, regulations and guidelines in Marketing and Distributing the Product in the Territory under this Agreement, including without limitation, all United States Food and Drug Administration and ICH pharmacovigilence
requirements and guidelines, the pharmacovigilence guidelines of each country in the Territory for which the Product has received Regulatory Approval, and the Foreign Corrupt Practices Act of 1977, as amended (“FCPA”). Distributor
shall not make any false or misleading representations to Purchasers or others regarding Galectin Therapeutics or the Compound or Product. Distributor shall not make any representations, warranties or guarantees with respect to the specifications,
features or capabilities of the Compound or Product that are not consistent with Galectin Therapeutics documentation accompanying the Compound or Galectin Therapeutics’ literature describing the Compound or Product, including the limited
warranty and disclaimers. Distributor shall not make any commitments on behalf of Galectin Therapeutics except as specifically defined in this Agreement or as agreed to in writing by Galectin Therapeutics. 

 

	7.	ADDITIONAL DUTIES, RESPONSIBILITIES, AND WARRANTIES OF PROCAPS 

 7.1. General Compliance. Procaps and its employees and agents shall: (i) comply with all applicable laws and regulations of each country in the Territory and the U.S. FDA rules and
regulations. Procaps shall collect, monitor, research and evaluate information from healthcare providers and patients in the Territory on the adverse effects of the cancer treatments which include the Product. This information shall be provided to
the JSMC as required in Sections 3.5 and 3.6. Procaps shall also follow Galectin Therapeutics’ standards, policies, instructions and procedures relating to the Product and its activities under this Agreement, and (ii) not engage in any
false, misleading or deceptive practices with respect to Galectin Therapeutics or the Product. 
 7.2. Procaps Licenses and
Permits. Procaps represents, warrants and covenants to Galectin Therapeutics that Procaps shall possess during the term of this Agreement all licenses, permits and other authorizations required by any Regulatory Authority or other each
governmental body within the Territory to import and Market and Distribute the Product, and fulfill its other obligations in accordance with the terms of this Agreement. 
 7.3. Product Importation. Procaps shall apply to necessary Regulatory Authority to import Product into the Territory and will be responsible for completing all necessary paperwork to enable
importation of Product into the Territory at its expense. 
 (a) Product Licenses and Documentation. Procaps shall be
responsible for the satisfaction of all relevant licenses and requirements for Product in the Territory that apply to this Agreement, including without limitation, import and pharmaceutical licenses and providing guidance on all documents necessary
for the importation of Product into the Territory. Each Party shall cooperate with the other in executing any other documents or licenses necessary for each Party to comply with any export or import or other similar applicable laws of the Territory.

 (b) Batch Certifications and Customs Clearance. Procaps shall provide for Product batch certification to be performed
by customs inspectors or others, as applicable. In addition, Procaps shall ensure the integrity of the Product is maintained at all times prior to successful delivery to the Purchaser, including following all procedures and instructions of Galectin
Therapeutics. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 14 

 7.4. Notice Upon Change of Control. Procaps shall promptly provide Galectin
Therapeutics with written notice in the event that Procaps undergoes a change in its principal place of business or name, identity, or corporate structure, or any merger, consolidation, sale or transfer of all or substantially all of the assets, or
other similar transaction to which Procaps is a party. 
 7.5. U.S. Foreign Corrupt Practices Act Compliance. 

(a) Procaps acknowledges that it understands that Galectin Therapeutics is an issuer of securities in the United States and is subject to
the provisions of the FCPA. This law prohibits making, promising or offering to make corrupt payments to foreign officials, political parties or candidates, or making payments to other persons who will offer or make payments to any of the
aforementioned parties in order to obtain business, retain business or gain an improper advantage. Procaps represents and warrants to Galectin Therapeutics that it is familiar with and understands the FCPA. 

(b) Procaps represents, warrants, and covenants to Galectin Therapeutics that throughout the term of this Agreement, neither Procaps, nor
any Person performing activities on behalf of Procaps will engage in any activity that could cause a violation of any provision of the FCPA. Procaps represents and warrants that it has not made, promised to make, or arranged for any Third Party to
make any payments or gifts to foreign officials in connection with its engagement by Galectin Therapeutics. Further, Procaps represents and warrants to Galectin Therapeutics that it has not violated any anti-corruption law, including any law
applicable within the Territory, and further that Procaps is not involved in, or the subject of, any investigation involving bribery, corruption or improper payments to foreign government officials, as defined in the FCPA. Procaps agrees to update
these representations and warranties on a periodic basis as required by Galectin Therapeutics in a format prescribed by Galectin Therapeutics. 
 (c) Procaps agrees to notify Galectin Therapeutics immediately in writing if Procaps or any Person who is performing activities hereunder on behalf of Procaps is suspected of violating any anti-corruption
law or becomes involved in, or a subject of, an investigation or law enforcement inquiry into possible improper payments to foreign officials or possible violations of anti-corruption laws. Procaps further agrees to provide such notification if
Procaps or any Person performing activities on behalf of Procaps becomes involved in any action, suit, claim, investigation or proceeding that is pending, or to the knowledge of Procaps threatened, relating to a potential violation of any
anti-corruption laws, including the FCPA. 
 (d) Procaps shall maintain all records related to the import and Marketing and
Distribution of the Product as required by any applicable laws, rules, regulations and guidelines. Procaps agrees to grant Galectin Therapeutics the right to audit Procaps’ books and records regarding the receipt and disposition of any payments
made to or by Procaps relating to the Product. Procaps further agrees to cooperate with Galectin Therapeutics in connection with such audits. 
 (e) It is agreed between Procaps and Galectin Therapeutics that this Section 7.5 is deemed by the Parties to be a material provision of this Agreement. 

 

	8.	ADDITIONAL RIGHTS, DUTIES, RESPONSIBILITIES, AND WARRANTIES OF GALECTIN THERAPEUTICS 

8.1. Compound Manufacture. Galectin Therapeutics itself or through its Third-Party manufacturer will be responsible for
manufacturing and supplying the Compound, in bulk form, to 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 15 

 
Procaps in such amounts consistent with the then current Marketing and Distribution Plan; provided that if Procaps requests more than the Maximum Amount, Galectin Therapeutics shall have six
(6) months in which to supply any amount of the Compound requested by Procaps over the Maximum Amount (“Excess Amount”). On any Product Order for, in whole or part, an Excess Amount, Procaps shall provide Galectin Therapeutics
a deposit equal to fifty percent (50%) of the product of the Excess Amount times the Transfer Price. The second payment of 50% shall be due in 60 days from shipment. Galectin Therapeutics shall have no obligation to initiate the manufacture of
any Excess Amount prior to receipt of the full deposit for such Excess Amount. Galectin Therapeutics or its Third Party manufacturer shall comply with all regulatory requirements and obtain any necessary regulatory approvals to manufacture the
Compound. 
 8.2. Delayed Shipments. Except as provided in Section 8.1, Galectin Therapeutics shall ship all
Compound within ninety (90) days of receipt of a Product Order compliant with this Agreement. If the Compound is not shipped within ninety (90) days of receipt of the applicable Product Order, Galectin Therapeutics will have thirty
(30) days to initiate shipment of the Compound for such Product Order. If the Compound is not shipped by the end of such additional thirty (30) day period, Procaps will receive a xx discount to the invoice price of such Product Order. If
the Compound shipment is (i) delayed beyond one-hundred and twenty (120) days and (ii) Procaps inventory of Product and Compound is fully depleted due to the delayed shipment, Procaps will receive a [****]% discount to the invoice
price of such Product Order. Galectin Therapeutics’ shipment obligations end upon transfer of the shipment to the Carrier. Such delayed shipment discounts shall be Procaps’ sole remedy in the event of Galectin Therapeutics’ failure to
ship Compound within the time required under this Agreement. The above delayed shipment discounts shall not apply if due to an Act of God or a Force Majeure. Galectin Therapeutics and Procaps agree to maintain levels of inventory as provided in
Sections 10.3 and 10.6, respectively. 
 8.3. Technology Transfer and Compound Supply. Galectin Therapeutics shall
cooperate with Procaps to transfer to Procaps for use solely with the fulfillment of Procaps’ obligations under this Agreement, such formulation and fill and finish technology and processes as reasonably requested by Procaps. Procaps shall have
no right to use such transferred technology and processes other than to fulfill its obligations under this Agreement or after the termination or expiration of this Agreement. Galectin Therapeutics shall be free to use, license or transfer such
transferred technology and processes in any manner it sees fit. 
 8.4. Supply of Compound for Approval Pursuit Purposes.
Galectin Therapeutics has supplied Procaps [****] mg of Compound for use by Procaps to define the vial filling process and stability testing for the Product as required by Regulatory Authorities. Such Compound shall not be sold commercially by
Procaps and shall be used only for such vial filling and stability testing. 
 8.5. Compound for Increasing Capacity of
Production Process. If Regulatory Approval of the Product is received in Colombia by December 31, 2011, Galectin Therapeutics will provide Procaps within ninety (90) days of notice of such Regulatory Approval, [****] of Compound free
of charge to be used for the qualification and approval of the increased capacity production process for the Product in Columbia. Compound provided pursuant to this Section 8.5, or any Product produced from such Compound, shall not be sold
commercially by Procaps and shall be used only for the qualification and approval of the increased capacity production process for the Product in Columbia. 
 8.6. Training for Procaps’ Personnel. Galectin Therapeutics or its Third Party designee(s) shall provide training to Procaps’ personnel at periodic intervals mutually agreed upon, as
Galectin Therapeutics and Procaps deem necessary. The cost for such training shall be shared equally. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 16 

 8.7. U.S. Export Controls. Galectin Therapeutics or its Third Party designee(s) shall
be responsible for satisfaction of United States export and import licenses and requirements that apply to this Agreement. Each Party shall cooperate with the other in executing any other documents or licenses necessary for each Party to comply with
any export or import or other similar laws of the United States applicable in this connection. 
  

	9.	PRICING AND PAYMENT PROCESSES 

 9.1. Product Pricing. Unless otherwise agreed between the Parties and reflected in the applicable Product Order, Procaps shall purchase, and Galectin Therapeutics shall sell to Procaps, the
Compound at the Transfer Price. The Transfer Price shall be subject to annual increases based upon the increase Producer Price Index, Pharmaceutical Preparation Mfg- pcu325412325412 PCU, as reported by the Bureau of Labor Statistics, U.S. Department
of Labor. The Transfer Price is inclusive of packaging but exclusive of any applicable value added or any other sales tax and customs duties for which Procaps shall be responsible. Distributor shall be responsible for costs for insurance during
shipment. Unless otherwise agreed between the Parties, Procaps shall sell Formulated Doses at the Sales Price. The difference between the Transfer Price and the Sales Price shall be Procaps’ sole remuneration for the Approval Pursuit and
Marketing and Distribution of the Product and for all other obligations of Procaps under this Agreement. In the event that the Procaps sells Product at a price above the Sales Price, Procaps shall provide Galectin Therapeutics a written statement
within thirty (30) days of the end of each calendar quarter detailing the number of Formulated Doses sold above the Sales Price, if any, during such quarter and pay Galectin Therapeutics at such time pursuant to Section 9.3 an amount equal
to fifty percent (50%) of product of (i) the number of Formulated Doses sold above the Sales Price and (ii) the difference between the price such Formulated Doses were sold at and the Sales Price. Procaps shall have the right to
decide appropriate credit terms for Purchasers, including requiring pre-payment. 
 9.2. Payments to Galectin
Therapeutics. Galectin Therapeutics shall invoice Procaps for each Product Order by Procaps under this Agreement. Invoices may be sent by Galectin Therapeutics via email to          (or such other email
address as provided by Procaps) or in hard copy. Invoices for the Transfer Price shall be sent to Procaps after Galectin Therapeutics’ receipt of the Product Order for such Compound. Unless otherwise elected by Galectin Therapeutics, Procaps
shall make all payments required under this Agreement in U.S. Dollars by wire transfer to an account specified by Galectin Therapeutics. Procaps shall be responsible for the banking charges associated with any wire transfers under this
Section 9.3. Galectin Therapeutics reserves the right to withhold delivery of Compound during any period in which Procaps has any amounts outstanding and past due. Such withholding of delivery will not constitute a breach of Galectin
Therapeutics’ obligations under this Agreement. 
 9.3. Payment Terms. Except as provided in Sections 8.1 and 19.3,
Procaps shall pay the first [****] in advance of shipment and thereafter, unless otherwise agreed, Procaps shall pay {****]% of the amount of each invoice within thirty (30) days of the date of Galectin Therapeutics’ invoice and the
remaining [****]% within 60 days of the date of invoice. 
  

	10.	PRODUCT ORDERING 

 10.1.
Product Orders. Procaps may order Compound from Galectin Therapeutics in accordance with this Agreement and the following procedures. Compound may be ordered by use of the 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 17 

 
order form in a form and substance satisfactory to Galectin Therapeutics (the “Product Order”). Each Product Order shall be for at least one (1) kilogram of Compound and
shall be sent by Procaps to Galectin Therapeutics at the address sent forth in Section 21.13 to the attention of Maureen Foley with copies to Theodore Zucconi and Lillian DePasquale. Notwithstanding Section 9.3, Galectin Therapeutics shall
have no obligation to ship any Compound to Procaps for a Product Order compliant with this Agreement while unpaid amounts are outstanding for prior Product Orders or if any royalty, upfront, license or milestone payments due to Galectin Therapeutics
are overdue. 
 10.2. Commitment to Purchase. Procaps shall purchase all Compound that Galectin Therapeutics produces
based on Product Orders submitted by Procaps under this Agreement. 
 10.3. Compound Inventory. Galectin Therapeutics
will use its reasonable commercial efforts to maintain an inventory of Compound sufficient to supply Procaps needs as set forth in the then current Marketing and Distribution Plan such that Compound will be shipped to Procaps within ninety
(90) days of receipt by Galectin Therapeutics of a Product Order. 
 10.4. Shipment. Galectin Therapeutics agrees to
deliver the Compound using a carrier selected by Procaps for shipment to Procaps (the “Carrier”). Title to and risk for loss or damage shall pass to Procaps upon delivery to the Carrier. Procaps shall be responsible for selecting
and making all arrangements for a Carrier to ship the Compound from Galectin Therapeutics’ manufacturing facility. Procaps shall not make any modifications to the Compound or its packaging or labeling other than as required in connection with
the production of Formulated Doses. Unless otherwise agreed, delivery of the Compound to the Carrier shall take place at Galectin Therapeutics’ manufacturer’s premises ex works (ICC Incoterms 2000). Risk of loss and damage shall pass to
Procaps upon shipment in accordance with this Section 10.4. 
 10.5. Testing and Acceptance. Procaps shall have
thirty (30) days after the delivery to Procaps of an order of Compound supplied hereunder to determine whether Compound conforms to the Specifications (using the same validated test methods as Galectin Therapeutics) and order quantity. Procaps
will be deemed to have acknowledged that an order of Compound conforms to the Specifications and order quantity and is accepted, unless Procaps rejects such Compound order by giving written notice of non-conformity to Galectin Therapeutics within
such thirty (30) day period. If Procaps determines that a Compound order fails to meet the Specifications, or that there is a shortage in the quantity delivered, it shall promptly so notify Galectin Therapeutics in writing within such thirty
(30) day period. Any such notice shall specify the reason, with supporting documentation, for the non-conformity or the details of any quantity shortage, as the case may be. In the event that Galectin Therapeutics agrees that an order of
Compound is non-conforming with the Specifications or that there was a shortage in quantity delivered, Galectin Therapeutics shall, at its own cost (including shipping) use commercially reasonable efforts to replace the non-conforming quantities of
Compound or make up the shortage, as soon as reasonably possible. If Galectin Therapeutics does not agree that the particular order of Compound fails to meet the Specifications or that it delivered a shortage of Compound, it shall notify Procaps and
the Parties (through the JSC) shall try to negotiate a mutually satisfactory resolution of their differences. Should a dispute over the conformity of a Compound order persist beyond thirty (30) days after Galectin Therapeutics’ notice to
Procaps of disagreement, a representative sample of the Compound at issue shall be submitted to an independent testing laboratory designated by Galectin Therapeutics and reasonably agreeable to Procaps for testing against the Specifications using
the same validated test methods in use by Galectin Therapeutics. Both Parties shall cooperate in method transfer and supply of reference materials to enable qualification of the independent test laboratory. The test results obtained from such
laboratory shall be 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 18 

 
final and binding on the Parties. The cost of such test shall be borne by the Party whose results disagree with those of the independent laboratory. Where the test results demonstrate that the
Compound order fails to meet any of the Specifications, Galectin Therapeutics shall replace the non-conforming quantities of Compound at no additional cost to Procaps as soon as reasonably possible after receipt of such results. The provisions of
this Section shall not apply to any Compound damaged or lost in transit after delivery by Galectin Therapeutics to the Carrier, which shall be the responsibility of Procaps. 
 10.6. Product Inventory. During the term of this Agreement, (i) Procaps shall maintain reasonable inventory levels of the Product at a level equal to at least the amount of Product forecasted
to be needed for the following two calendar quarters as set forth in the then current Marketing and Distribution Plan and (ii) Galectin Therapeutics shall maintain reasonable inventory levels of the Compound at a level equal to at least the
amount of Compound forecasted to be needed for the following calendar quarter as set forth in the then current Marketing and Distribution Plan. 
  

	11.	ROYALTIES 

 11.1
Royalties. For the term specified in Section 11.2, Procaps shall pay to Galectin Therapeutics royalties on Net Sales in Columbia, at an incremental royalty rate determined by annual Net Sales of all Product in aggregate in each
calendar year as follows: 
  

					
	 Annual Net Sales of Product
	  	Royalty
Rate	 
		
	 Portion less than or equal to USD $[****] million
	  	 	[****	]% 
		
	 Portion greater than USD $[****] million and less than or equal to USD $[****] million
	  	 	[****	]% 
		
	 Portion greater than USD $[****] million and less than or equal to USD $[****] million
	  	 	[****	]% 
		
	 Portion greater than USD $[****] million
	  	 	[****	]% 

 For example, if the calendar year Net Sales to which the royalty obligations in this Section 11.1 apply, were
$[****], there would be [****] royalty on the first $[****] million of such Net Sales, the [****]% royalty rate would apply to the next $[****] of such Net Sales, the [****]% royalty rate would apply to the next $[****] of such Net Sales and the
[****]% royalty rate would apply to the final $[****] of such Net Sales. For the avoidance of doubt, royalty rates for countries other than Columbia in the Territory will be separately negotiated at the time the Parties agree, if at all, to add
additional RFN Eligible Countries pursuant to Section 2.3; provided, that the maximum royalty rate in such countries shall be [****]% of Net Sales. Minimum annual sales requirements for each RFN Eligible Country included in the RFN Agreement
will be proportional to the minimum annual sales requirements for Columbia set forth in Exhibit D taking into account for each such country the factors set forth in Section 2.3 to determine upfront license fees. Royalties in each RFN
Eligible Country included in the RFN Agreement will commence upon the First Commercial Sale in such country (i.e., royalties shall be due upon the first dollar of Net Sales in such country), except for Colombia which royalty schedule is set forth
above. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 19 

 11.2 Royalty Term. Royalties due under Section 11.1 with respect to the Product
will commence upon the first commercial sale of the Product to a Third Party after Regulatory Approval (“First Commercial Sale”) in any RFN country or jurisdiction and will be payable until the later of (i) the Term and
(ii) any post-termination sales pursuant to Section 19.3. 
 11.3 Royalty Payments and Net Sales Reports. All
amounts payable to Galectin Therapeutics pursuant to Section 11.1 shall be paid in United States dollars within thirty (30) days after the end of each calendar quarter with respect to Net Sales in such calendar quarter. Within thirty
(30) days after the end of each calendar quarter, following Regulatory Approval of the Product in Colombia, Procaps shall provide Galectin Therapeutics a report setting forth (i) the amount of gross sales of Product during the applicable
calendar quarter, (ii) an itemized calculation of Net Sales showing deductions provided for in the definition of Net Sales during such calendar quarter, (iii) the Net Sales Price for such calendar quarter, and (iv) a calculation of
the amount of royalty payment due on such Net Sales for such calendar quarter. 
 11.4 Foreign Exchange. The rate of
exchange to be used in computing the amount of currency equivalent in United States dollars of Net Sales invoiced in other currencies shall be made at the period-end rate of exchange quoted on the last business day of the applicable calendar quarter
by Citibank in New York City or, to the extent mutually agreed by the Parties, any other widely accepted source of published exchange rates. 
 11.5 Late Payments. If Galectin Therapeutics does not receive payment of any sum due to it on or before the due date, simple interest shall thereafter accrue on the sum due to Galectin Therapeutics
from the due date until the date of payment at the prime rate (as stated in the Wall Street Journal on the date such payment was due) plus four percent (4%) or the maximum rate allowable by applicable law, whichever is less. 

11.6 Financial Records; Audits. Procaps shall maintain complete and accurate records in sufficient detail to permit Galectin
Therapeutics to confirm the accuracy of the Net Sales generated by Procaps and the calculation of royalty payments and the Net Sales Price. Upon reasonable prior notice of at least five (5) Business Days, such records shall be open during
regular business hours for a period of three (3) years from the creation of individual records for examination at Galectin Therapeutics’ expense, and not more often than twice each calendar year, by an independent certified public
accountant selected by Galectin Therapeutics for the sole purpose of verifying for Galectin Therapeutics the accuracy of the financial reports, royalty payment or Net Sales and Net Sales Price calculations or of any payments made by Procaps to
Galectin Therapeutics pursuant to this Agreement. Any such auditor shall not disclose Procaps’ Confidential Information to Galectin Therapeutics, except to the extent such disclosure is necessary to verify the accuracy of the financial reports,
royalty payment or Net Sales and Net Sales Price calculation furnished by Procaps or the amount of payments due by Procaps under this Agreement. Any amounts shown to be owed but unpaid or overpaid and in need of reimbursement shall be paid or
refunded (as the case may be) within thirty (30) days after the accountant’s report, plus interest (as set forth in Section 11.5) from the original due date. Galectin Therapeutics shall bear the full cost of such audit unless such
audit discloses that Procaps paid too little because of a discrepancy in a report that Procaps provided to the JSC or Galectin Therapeutics during the applicable audit period, which underpayment was equal to more than five percent (5%) of the
amount set forth in such report, in which case Procaps shall bear the full cost of such audit. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 20 

	12.	REPRESENTATIONS AND WARRANTIES 

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

(a) Corporate Existence and Power. It is a company or corporation duly organized, validly existing, and in good standing under the
laws of the jurisdiction in which it is incorporated, and has full corporate power and authority and the legal right to own and operate its property and assets and to carry on its business as it is now being conducted and as contemplated in this
Agreement. 
 (b) Authority and Binding Agreement. It has the corporate or organizational power and authority and the
legal right to enter into this Agreement and perform its obligations hereunder; it has taken all necessary corporate or organizational action on its part required to authorize the execution and delivery of this Agreement and the performance of its
obligations hereunder; and this Agreement has been duly executed and delivered on its behalf, and constitutes a legal, valid, and binding obligation of such Party that is enforceable against it in accordance with its terms and this Agreement will
not violate (a) such Party’s certificate of incorporation or bylaws, (b) any agreement, instrument or contractual obligation to which such Party is bound in any material respect, (c) any requirement of any applicable laws or
regulation, or (d) any order, writ, judgment, injunction, decree, determination or award of any court or governmental agency presently in effect applicable to such Party. 
 (c) No Conflict. It is not a party to and will not enter into any agreement that would materially prevent it from granting the rights granted to the other Party under this Agreement or performing
its obligations under this Agreement. 
 (d) No Debarment. To the best of such Party’s knowledge, such Party has not
used prior to the Effective Date and shall not use, during the term of the Agreement, any employee, agent or independent contractor who has been debarred by any Regulatory Authority, or is the subject of debarment proceedings by a Regulatory
Authority. 
 12.2. Disclaimer. Procaps understands that the Compound and Product are the subject of ongoing clinical
research and development and that the safety or efficacy profile of the Compound and Product are not fully defined. 
  

	13.	PRODUCT WARRANTY AND CONDITIONS 

 13.1. Warranty. Galectin Therapeutics warrants to Procaps that the Product delivered by Galectin Therapeutics to Procaps pursuant to this Agreement: (a) shall be free from defects in material
or workmanship or design, and (b) shall conform to the Product specifications, any technical conditions or standards provided by the certificate of analysis, and all applicable laws. The warranties in this Section 13.1 are exclusive and in
lieu of all other warranties, whether oral or in writing, express or implied or statutory. In the event that Galectin Therapeutics delivers Product in non-conformance with these warranties, Procaps shall have the right to return the Product, at the
cost and expense of Galectin Therapeutics, and Galectin Therapeutics shall reimburse Procaps any Transfer Price paid for such non-conforming Product. The above warranties shall only apply to the extent the Product is handled, stored, transported and
used by or on behalf of Procaps, and Purchasers in accordance with this Agreement, Galectin Therapeutics’ instructions, and applicable laws, rules and regulations. Any disputes between the Parties regarding whether Product delivered to Procaps
meets the warranty provided in this Section shall be resolved pursuant to Section 20. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 21 

 13.2. No Modification of Product Warranty. Procaps shall provide in each product
order with a Purchaser, a written notice containing the Product warranty provisions of Section 13.1. Procaps shall not modify or supplement such warranty or disclaimer without the express prior written consent of an authorized representative of
Galectin Therapeutics, or provide any additional warranty. Procaps shall indemnify and hold Galectin Therapeutics harmless from all liabilities, claims, damages and expenses, including attorneys’ fees that may be incurred by Galectin
Therapeutics during or after the term of this Agreement that result from or arise out of the failure of Procaps to comply with the terms of this Section 13. 
 13.3. WARRANTY DISCLAIMER. THE EXPRESS REPRESENTATIONS AND WARRANTIES OF GALECTIN THERAPEUTICS STATED IN THIS AGREEMENT ARE IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, OR
STATUTORY, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OR NON-MISAPPROPRIATION OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS. NO REPRESENTATION OR WARRANTY MADE BY EMPLOYEES OF
GALECTIN THERAPEUTICS, PROCAPS OR ANY OTHER PARTY SHALL BE CONSIDERED A WARRANTY BY GALECTIN THERAPEUTICS FOR ANY PURPOSE OR CREATE ANY LIABILITY OF GALECTIN THERAPEUTICS. 

 

	14.	INTELLECTUAL PROPERTY 

14.1. Intellectual Property. Procaps acknowledges that all current and future patents, patent applications, trade marks, trade
names, service marks, internet domain names, copyrights, design rights, trade secrets, and other intellectual property rights in or related to the Compound and/or Product or any materials used in connection with the manufacture, Approval Pursuit,
use or Marketing and Distribution of the Compound and/or Product (the “Product Related IP Rights”) are and shall remain the exclusive property of Galectin Therapeutics. Galectin Therapeutics shall be solely responsible for
prosecution, maintenance and enforcement of the Galectin Therapeutics Patents, Product Related IP Rights and Licensed Marks. Except as explicitly provided under this Agreement, Procaps has no right to, and shall not, make, use, modify, reproduce,
disassemble, reverse engineer, translate, reconstruct, or improve the Compound and/or Product, the Confidential Information, or any other materials used in connection with the manufacture, Approval Pursuit, use or Marketing and Distribution of the
Compound and/or Product, or practice any of Galectin Therapeutics’ current or future intellectual property rights, except upon the prior written consent of Galectin Therapeutics. Procaps hereby assigns, or in jurisdictions that do not allow
present assignment of future rights, agrees to assign, to Galectin Therapeutics, without additional consideration, all of Procaps’ rights in any Product Related IP Rights that now exists or hereafter arises including the right to claim priority
from the relevant patent application(s). Procaps shall execute such documents and take such actions as Galectin Therapeutics may reasonably request in connection with the documentation of any Product Related IP Right or the assignment of such
right to Galectin Therapeutics. All copyrightable works included within the Product Related IP Rights that are created (solely or jointly) by Procaps shall be assigned to Galectin Therapeutics to the maximum extent possible under applicable law.
Procaps shall promptly notify Galectin Therapeutics of any action by any Person that comes to Procaps’ attention that constitutes or may constitute an infringement of Galectin Therapeutics’ intellectual property. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 22 

 14.2. Cooperation of Procaps. Procaps shall provide Galectin Therapeutics all
reasonable assistance and cooperation in Galectin Therapeutics’ patent prosecution efforts with respect to Product Related IP Rights, including providing any necessary powers of attorney and executing any other required documents or instruments
for such prosecution. In addition, Procaps shall provide to Galectin Therapeutics reasonable assistance in enforcement of patents or patent applications claiming Product Related IP Rights, at Galectin Therapeutics’ request and expense,
including joining such action as a party plaintiff if required by applicable law to pursue such action. 
 14.3. Licensed
Marks. The Licensed Marks, and any reputation and goodwill in them, are, and will remain, the exclusive property of Galectin Therapeutics, and Procaps does not have and shall not have any right to use any such Licensed Mark other than in
connection with the Marketing and Distribution of the Product under the terms and conditions of this Agreement. All use of the Licensed Marks shall inure solely to the benefit of Galectin Therapeutics. Procaps shall not: (a) use any Licensed
Mark, or any word, symbol, or design confusingly similar to any Licensed Mark or other Galectin Therapeutics mark, as part of its corporate or legal name or in connection with any product sold by Procaps; (b) do or suffer to be done any act or
thing which would in any way impair the rights of Galectin Therapeutics in and to any Licensed Mark; (c) apply for any registration of any trademark or other designation which includes in whole or in part any Licensed Mark or which otherwise
would affect the ownership of any Licensed Mark, no file any document with any governmental authority to take any action that would affect the ownership of any Licensed Mark or assist any other Person or entity to undertake any such action; or
(d) acquire or claim any title to any Licensed Mark adverse to Galectin Therapeutics by virtue of the rights granted to Procaps under this Agreement or through Procaps’ use of such Licensed Mark. If any Licensed Marks are to be used in
conjunction with another trademark on or in relation to the Product, then the Licensed Mark(s) shall be presented equally legibly, equally prominently, and of greater size than the other, but nevertheless separated from the other, so that each
appears to be a mark in its own right, distinct from the other mark. 
 14.4. Patent Marking. Procaps shall, and shall
require its Affiliates, to mark the Product sold by it hereunder with appropriate patent numbers or indicia to the extent permitted by applicable law and regulations, in those countries in which such markings or such notices impact recoveries of
damages or equitable remedies available with respect to infringements of patents. 
 14.5. Employee Obligations. Prior to
the Effective Date, each employee, agent or independent contractor of Procaps or its Affiliates that may be involved at any time during the Term in the Approval Pursuit or Distribution of the Product or other obligations under this Agreement shall
sign, to the extent it has not already signed, a non-disclosure and invention assignment agreement pursuant to which such person agrees to comply with all of the obligations of Procaps, as appropriate, in this Section 14, including without
limitation: (a) promptly reporting any invention, discovery, process or other intellectual property right; (b) assigning to Procaps all of his or her right, title and interest in and to any invention, discovery, process or other
intellectual property right; (c) cooperating in the preparation, filing, prosecution, maintenance and enforcement of any patent and patent application; (d) performing all acts and signing, executing, acknowledging and delivering any and
all documents required for effecting the obligations and purposes of this Agreement; and (e) abiding by the obligations of confidentiality and non-use set forth in Section 15. It is understood and agreed that such non-disclosure and
invention assignment agreement need not reference or be specific to this Agreement. New employees shall sign such an agreement before receiving or being exposed to Galectin Confidential information. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 23 

	15.	CONFIDENTIALITY 

 15.1.
Definition. “Confidential Information” shall mean any technical, scientific, clinical, financial, commercial or business information furnished by one Party to the other Party in connection with this Agreement or developed by
Procaps in the course of fulfilling its obligations under this Agreement, regardless of whether such Confidential Information is in oral, electronic or written form. Such Confidential Information includes, without limitation, all trade secrets,
know-how, inventions, developments, technical data or specifications, formulations, formulae, testing methods, research and development activities, product and marketing plans, customer and supplier information, materials, compositions of matter,
manuals, processes, procedures, reports, instructions, databases, information, marketing reports, expertise, technology, test data including pharmacological, biological, chemical, biochemical, toxicological, and clinical test data, analytical and
quality control data, stability data, studies and procedures relating to Galectin Therapeutics, Procaps, the Compound or the Product. All Confidential Information is and shall remain the exclusive property of the disclosing Party; provided that
Confidential Information developed by Procaps in the course of fulfilling its obligations under this Agreement shall be Confidential Information of Galectin Therapeutics. 
 15.2. Obligations. The receiving Party shall: 
 (a) maintain all
Confidential Information of disclosing Party in strict confidence; 
 (b) use all Confidential Information of disclosing Party
solely for the purpose of fulfilling its obligations under this Agreement; and 
 (c) reproduce the Confidential Information of
disclosing Party only to the extent necessary for fulfilling its obligations under this Agreement, with all such reproductions being considered Confidential Information. 
 15.3. Exceptions. Information shall not be deemed Confidential Information if the receiving Party can demonstrate that such information: 

(a) was in the public domain prior to the disclosure of such information by the disclosing Party; 

(b) entered the public domain after receipt from the disclosing Party through means other than an unauthorized disclosure resulting from
an act or omission by the receiving Party in violation of this Agreement; or 
 (c) was already known to the receiving Party or
its Affiliate, other than under an obligation of confidentiality, at the time of disclosure by the disclosing Party. 
 15.4.
Authorized Disclosure. Each Party may disclose Confidential Information belonging to the other Party to the extent such disclosure is reasonably necessary in the following situations: 

(a) regulatory filings and other filings with Governmental Authorities, including filings with the SEC, with respect to the Compound or
Product; 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 24 

 (b) complying with applicable laws and regulations, including regulations promulgated by
securities exchanges; 
 (c) disclosure to its Affiliates, employees, agents, and approved independent contractors, only on a
need-to-know basis and solely as necessary in connection with the performance of this Agreement, provided that each disclosee must be bound by similar obligations of confidentiality and non-use at least as equivalent in scope as those set forth in
this Section 15 prior to any such disclosure; and 
 (d) solely with respect to the material terms of this Agreement,
disclosure to any bona fide potential or actual investor, investment banker, acquirer, merger partner, or other potential or actual financial partner; provided that in connection with such disclosure, the disclosing Party shall use all reasonable
efforts to inform each disclosee of the confidential nature of such Confidential Information and cause each disclosee to treat such Confidential Information as confidential. 
 Notwithstanding the foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to this Section 15.4, it will, except where
impracticable, give reasonable advance notice to the other Party of such disclosure and use reasonable efforts to limit the scope of such disclosure, as well as any subsequent use or disclosure of the information so disclosed, by seeking
confidential treatment, a protective order, or the like and reasonably assist the other Party in its efforts to seek such confidential treatment, protective order or the like. In any event, the Parties agree to take all reasonable action to avoid
disclosure of Confidential Information hereunder. 
 15.5. Return of Confidential Information. Upon the expiration or
termination of this Agreement, the receiving Party shall return to the disclosing Party or destroy all originals, copies, and summaries of documents, materials, and other tangible manifestations of Confidential Information in the possession or
control of the receiving Party; except that one copy may be retained by the other Party’s legal counsel to ascertain compliance with this Agreement. 
 15.6. Survival of Obligations. The obligations set forth in this Section 15 shall remain in effect for a period of ten (10) years after expiration or termination of this Agreement, except
that the obligations of the receiving Party to return Confidential Information shall survive until fulfilled. 
  

	16.	INDEMNIFICATION; INSURANCE; LIMITATION OF LIABILITY 

 16.1. Scope of Indemnification. Each Party (the “Indemnitor”) hereby agrees to indemnify and hold the other Party and its Affiliates and their respective shareholders, officers,
directors, employees, consultants and agents (the “Indemnitees”) harmless for any loss, claim, damage, cost, expense (including reasonable attorney’s fees), or liability by or to a Third Party (a “Claim”)
arising out of: (a) the negligence or willful misconduct of the Indemnitor, its Affiliates or any of their respective officers, directors, employees, consultants or agents; (b) a breach by the Indemnitor of any of its representations,
warranties or obligations under this Agreement or any breach of applicable law; or (c) the Indemnitor’s Approval Pursuit and Marketing and Distribution of the Product. 

16.2. Process. If any claim is asserted against an Indemnitee by any Third Party, which claim is subject to indemnity under this
Section 16, the Indemnitee shall notify the Indemnitor thereof promptly after its receipt of such claim, but any delay in giving such notice shall not affect the Indemnitee’s rights under this Section 16 except to the extent the
Indemnitor is actually prejudiced thereby. The Indemnitor 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 25 

 
shall have the right to take charge of the defense of such claim by giving notice to the Indemnitee within ten (10) days after Indemnitee’s notice. If the Indemnitor so assumes the
defense, (i) the defending counsel shall be selected by the Indemnitor and shall be free of material conflicts with the Indemnitee’s interests and otherwise reasonably satisfactory to the Indemnitee, (ii) all costs and expenses of
defense, including without limitation all attorney, witness, investigation, and court fees and expenses, (collectively, “Defense Costs”) shall be borne and promptly paid by the Indemnitor, and (iii) any engagement of separate
counsel by Indemnitee shall be solely at the Indemnitee’s expense. If the Indemnitor does not so assume the defense, or if the Indemnitor fails to diligently pursue such defense or timely pay any Defense Costs, then the Indemnitee may take
charge of the defense of such claim, including the designation of defense counsel, and all Defense Costs, including without limitation the reasonable fees and expenses of counsel designated by the Indemnitee, shall be borne and promptly paid by the
Indemnitor. No settlement of a claim for which indemnification will be sought under this Section 16 shall be made without the consent of the Indemnitor, which shall not unreasonably be withheld. No settlement of a claim shall be entered into
without the consent of the Indemnitee unless it fully and finally releases the Indemnitee from all obligations and liability relating to or arising out of the subject matter of the claim and imposes no restrictions or burdens on the Indemnitee.

 16.3. Insurance. Each Party shall secure and maintain in full force and effect throughout the term of this Agreement
policies of insurance, including general commercial liability and product liability, with limits, deductibles and other terms appropriate to the conduct of their business. Each Party shall furnish certificates evidencing such insurance upon the
other Party’s request. 
 16.4. LIMITATION OF LIABILITY. EXCEPT TO THE EXTENT GALECTIN THERAPEUTICS MAY BE REQUIRED
TO INDEMNIFY PROCAPS UNDER SECTION 16, NEITHER GALECTIN THERAPEUTICS NOR ITS AFFILIATES OR AGENTS SHALL BE LIABLE FOR SPECIAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER IN CONTRACT, WARRANTY, TORT, STRICT LIABILITY OR OTHERWISE. ANY
LIABILITY OF GALECTIN THERAPEUTICS FOR DAMAGES RELATING TO THE PRODUCT SHALL NOT EXCEED THE PRICE PAID BY PROCAPS FOR THE PRODUCT. 
 16.5. No Goodwill. Procaps shall not be entitled to compensation for any goodwill which may have accrued due to the Approval Pursuit and Marketing and Distribution of the Product by Procaps.
Procaps shall have no claim against Galectin Therapeutics based on, arising out of, or in connection with, the alleged value of any particular customer account or group of accounts located within the Territory. Upon termination or expiration of this
Agreement, Galectin Therapeutics shall be free, at its sole discretion, to make whatever other arrangements for Pursuing Approval and Marketing and Distributing the Product in the Territory as Galectin Therapeutics may deem appropriate, with
whatever party and under whatever terms and pricing as Galectin Therapeutics shall determine. 
  

	17.	NON-COMPETE 

 Procaps
hereby covenants and agrees that during the term of this Agreement and for a period of five (5) years thereafter it will not, and will cause its Affiliates, not to, directly or indirectly, other than as provided in this Agreement, import,
develop, manufacture, market, sell or distribute any products that can be substituted for the Compound or Product or enter into a collaboration or license agreement with any Third Party to do the same. A product that can be substituted for the
Product shall be any oncology 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 26 

 
therapeutic that can be used instead of a regime containing 5-FU (whether alone or in combination with other therapeutics) for an oncology indication in which a 5-FU containing regime is used
or any oncology therapeutics that can be used to replace 5-FU in a regime otherwise containing 5-FU. Notwithstanding the prior sentence, Procaps may import, develop, manufacture, market, sell or distribute products used solely to diagnose cancer or
treat side effects associated with cancer treatments or those products which it currently imports, develops, manufactures, markets, sells or distributes or for which it has the right to do so that are identified on Exhibit E. Procaps agrees
that any breach or threatened breach by it of this Section 17 shall entitle Galectin Therapeutics, in addition to all other legal remedies available to them, to a temporary or permanent injunction to enjoin such breach or threatened breach
without having to post bond, together with an award of its attorneys’ fees incurred in connection with same. 
  

	18.	TERM 

 This Agreement
shall begin on the Effective Date and shall continue until the seventh (7th) anniversary of the Effective Date unless terminated earlier in accordance with the terms of Section 19 or another provision of this Agreement, or unless extended by
written agreement of both Parties for one or more countries in the Territory upon mutually agreeable terms within sixty (60) days of the then current termination date (the “Term”). 

 

	19.	TERMINATION 

 19.1.
Termination by Either Party. Except as otherwise provided in this Agreement, either Party may terminate this Agreement or, in the case of Galectin Therapeutics, render Procaps’ rights under this Agreement non-exclusive: (a) for
cause upon the material breach of any obligation or responsibility by the other Party which breach remains uncured for thirty (30) days after written notice thereof; (b) for cause upon the non-material breach of any obligation or
responsibility by the other Party which breach remains uncured for sixty (60) days after written notice thereof; (c) upon thirty (30) days written notice upon the revocation, termination of a Regulatory Approval or the suspension of
sales of the Product for a period of greater than one hundred and eighty days (180) days by a Regulatory Authority in the Territory. For the avoidance of doubt, subject to Section 21.6, this Agreement shall survive a merger, consolidation
or sale of all or substantially all of a Party’s assets. 
 19.2. Post-Termination Obligations. In the event of
Termination of this Agreement, (i) Galectin Therapeutics shall, in its sole discretion, process in the ordinary course of business all Product Orders confirmed by Galectin Therapeutics prior to the written notice of termination, or prior to the
expiration date of this Agreement; provided, however, that Procaps shall pay the invoice for all such Product Orders in advance of shipment, (ii) Procaps may sell any existing Product in its inventory during the period ending one hundred eighty
(180) days following receipt of notice of termination, provided Regulatory Approval has not been revoked, terminated or suspended, (iii) Galectin Therapeutics shall have the option to purchase all or part of Compound in Procaps’
inventory as of the date notice of termination is received at the price paid by Procaps for such Compound, and (iv) at the end of the period ending one hundred eighty (180) days following receipt of notice of termination, Procaps shall
destroy any remaining Compound not purchased by Galectin Therapeutics and any remaining Product and provide Galectin Therapeutics with written certification thereof. Termination or expiration of this Agreement shall not prevent or excuse Procaps
from settling accounts, collecting funds, or engaging in any activity necessary to bring successfully to completion any transaction outstanding at the time of the termination or expiration of this Agreement. In the event of termination for breach by
Procaps or a termination pursuant to Section 19.1(d), (A) all outstanding Product Orders shall be immediately terminated, (B) Procaps shall immediately cease all Marketing and Distribution of the Product, (C) Galectin
Therapeutics shall have the option to purchase all or part of Compound in Procaps inventory as of the date notice of termination is 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 27 

 
received at the price paid by Procaps for such Compound, and (D) Procaps shall destroy any remaining Compound not purchased by Galectin Therapeutics and any remaining Product and provide
Galectin Therapeutics with written certification thereof. Immediately after termination or expiration, Procaps shall provide all cooperation and assistance reasonably requested by Galectin Therapeutics to enable Galectin Therapeutics to assume
and/or continue, with as little disruption as reasonably possible, the continued Approval Pursuit and Marketing and Distribution of the Product in the Territory, including, without limitation, (a) as directed by Galectin Therapeutics, terminate
all agreements between Procaps and any Third Parties relating to the Approval Pursuit or Marketing and Distribution of the Product, or assign them to Galectin Therapeutics or a Third Party designated by Galectin Therapeutics, (b) at Galectin
Therapeutics’ request, transfer to Galectin Therapeutics or its designee all inventory of the Compound and the Product (c) at the direction of Galectin Therapeutics, remove from any literature or other media of Procaps any and all
references to Galectin Therapeutics and the Product, (d) cease to use any trademarks or trade names of Galectin Therapeutics, the Compound or the Product and assign to Galectin Therapeutics all right, title and interest in any such trademarks
or trade names to the extent necessary, (e) transfer or assign to Galectin Therapeutics all Regulatory Materials, Regulatory Approvals, Product Related IP Rights, licenses, permits, authorizations or similar documents for the Product that
Procaps holds as of the time of any such termination, (f) return to Galectin Therapeutics all Confidential Information of Galectin Therapeutics, (g) pay Galectin Therapeutics any outstanding invoices and royalty amounts, and
(h) provide Galectin Therapeutics with a final Marketing and Distribution report containing data through the effective date of the termination or expiration of the Agreement, including without limitation, customer account information and market
data and intelligence. The provisions of Sections 5.1, 5.2, 6.5, 7.5, 13.2, 13.3, 14, 15, 16, 17, 20 and this Section 19.3 shall survive expiration or termination of this Agreement. In addition, the following provisions shall survive expiration
or termination of this Agreement with respect to sales made prior to such expiration or termination, or in accordance with this Section 19.3: 4.4, 4.6, 5.2, 6.3, 6.5, 6.6, 7.5, 9.1, 9.2, 9.3, 11 and 13. 

 

	20.	DISPUTE RESOLUTION 

 20.1.
Disputes. Any contractual dispute arising under this Agreement (the “Dispute”) shall be discussed first by the respective chief executive officers of each Party or his/her designee for attempted resolution by good faith
discussions within sixty (60) days. In the event that the chief executive officers or his/her designee are not able to resolve such Dispute within such sixty (60) day period, and do not agree to extend the time period for resolving the
Dispute, unless the Parties otherwise agree to extend the time period for resolving the Dispute, then such Dispute shall be resolved pursuant to the provisions of Section 20.2. 

20.2. Arbitration. If the Dispute is not resolved pursuant to Section 20.1, such Dispute must be referred to and finally
resolved by arbitration, to which the Parties hereto expressly agree and submit. The arbitration will be submitted to the International Centre for Dispute Resolution of the American Arbitration Association (“AAA”) and conducted in
accordance with the Commercial Arbitration Rules of the AAA (“Rules”). Pre-hearing information exchange shall be limited to the reasonable production of relevant, nonprivileged documents and carried out expeditiously. There will be
one arbitrator selected by mutual agreement of the Parties. It is the intent of the Parties that, barring extraordinary circumstances, arbitration proceedings will be concluded within ninety (90) days from the date the arbitrator is appointed.
The arbitral tribunal may extend this time limit in the interests of justice. Failure to adhere to this time limit shall not constitute a basis for challenging the award. The arbitration will be conducted in English and the place of arbitration will
be in New York City, New York, USA. Either Party may, without waiving any remedy under this Agreement, apply to the arbitral tribunal and/or any court having 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 28 

 
jurisdiction any interim, provisional, injunctive or conservatory relief that is necessary to protect the rights or property of that Party until the arbitration award is rendered or the Dispute
is otherwise resolved. Any decision rendered by the arbitral tribunal will be final and binding on the Parties, and judgment thereon may be entered by any court of competent jurisdiction, including, but not limited to, any court that has
jurisdiction over either of the Parties or any of their assets. The Parties expressly agree that the arbitral tribunal will be empowered to award and order equitable or injunctive relief with respect to matters brought before it, provided however,
that such remedy or relief is consistent with the remedies and limitations set forth in this Agreement. The Parties agree that all arbitral proceedings conducted pursuant to this Section, including the existence of any arbitral proceedings,
information disclosed in the course of such arbitral proceedings, and any settlements, negotiations, discussions, proposals, and awards related thereto shall be considered Confidential Information. The Parties may, however, disclose such information
to an appropriate court, as is necessary to seek enforcement of any award rendered by the arbitral tribunal. 
 20.3.
Governing law; Venue. This Agreement shall be governed by and construed under the substantive laws of the United States of America and the Commonwealth of Massachusetts, without regard to conflicts of law rules. Each Party
(a) hereby irrevocably submits itself to and consents to the exclusive jurisdiction of the Commonwealth of Massachusetts for the purposes of any action, claim, suit or proceeding in connection with any controversy, claim or dispute arising out
of or relating to this Agreement for which Section 20.2 permits access to the courts, and (b) hereby waives, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, claim, suit or proceeding, any claim
that it is not personally subject to the jurisdiction of such court(s), that the action, claim, suit or proceeding is brought in an inconvenient forum or that the venue of the action, claim, suit or proceeding is improper. The Parties agree that the
1980 United Nations Convention on Contracts for the International Sale of Goods shall not apply to or affect any term of this Agreement. 
  

	21.	GENERAL PROVISIONS 

 21.1.
Relationship of the Parties. The Parties are and shall remain independent contractors. Procaps shall conduct all of its business in its own name and shall pay all expenses of its office and activities and be solely responsible for the acts
and expenses of its employees. Procaps shall purchase and resell the Product for its own account and at its own risk. This Agreement does not constitute a partnership or joint venture and does not establish either Party as the agent, franchisee, or
legal representative of the other for any purpose, and neither Party has the authority to act for, bind, or make commitments on behalf of the other, except as specifically provided for in this Agreement. 

21.2. Force Majeure. Neither Procaps nor Galectin Therapeutics shall be liable for any delay or failure to perform its obligations
under this Agreement because of events beyond its reasonable control and which were not reasonably foreseeable at the time of signing this Agreement, including but not limited to strikes, riots, war, fire, acts of God, acts of government, supplier
delays, and breakdown or general unavailability of materials or transportation facilities. In the event that a Party’s non-performance extends for a period greater than one hundred eighty (180) days as permitted by this Section 21.2,
the other Party may terminate the Agreement upon written notice to the non-performing Party. 
 21.3. Publicity.

 (a) If Galectin Therapeutics desires to make public announcements related to this Agreement concerning (i) completion of
clinical studies in the Territory and top line results thereof, (ii) 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 29 

 
filings for Regulatory Approvals in the Territory; iii ) Regulatory Approvals in the Territory; and (iv) milestone achievements and/or payments, Galectin Therapeutics shall give reasonable
prior advance notice of the proposed text of such announcement to Procaps for its prior review and approval (except as otherwise provided herein), such approval not to be unreasonably withheld. Procaps shall provide its comments, if any, within
three (3) business days after receiving the announcement for review. Neither Party shall be required to seek the permission of the other Party to repeat any information regarding the terms of this Agreement that have already been publicly
disclosed by such Party, or by the other Party, in accordance with this Section 21.3. 
 (b) Procaps acknowledges that
Galectin Therapeutics may be obligated to file a copy of this Agreement with the U.S. Securities and Exchange Commission. Galectin Therapeutics shall be entitled to make such a required filing, provided that it requests confidential treatment of at
least the commercial terms and sensitive technical terms hereof to the extent such confidential treatment is reasonably available to Galectin Therapeutics. In the event of any such filing, Galectin Therapeutics will provide Procaps with a copy of
the Agreement a reasonable time in advance of filing marked to show provisions for which Galectin Therapeutics intends to seek confidential treatment and shall reasonably consider and incorporate Procaps’ comments thereon (which shall be
provided to Galectin Therapeutics a reasonable time in advance of filing) to the extent consistent with the legal requirements governing redaction of information from material agreements that must be publicly filed. 

21.4. Entire Agreement and Amendment. This Agreement, including its exhibits, schedules and attachments constitutes the entire
agreement between the Parties with respect to its subject matter and cancels and supersedes all prior agreements, understandings, and arrangements, whether written or oral, between the Parties with respect to such subject matter. No amendment,
modification, or waiver of the terms of this Agreement, or any of its exhibits, schedules, or attachments will be binding on either Party unless reduced to writing and signed by an authorized representative of the Party to be bound. 

21.5. Performance by Galectin Therapeutics. Any of Galectin Therapeutics’ obligations to be performed under this Agreement
may be performed by any subsidiary or Affiliate or Third party designee of Galectin Therapeutics. 
 21.6. Assignment.
Procaps may not assign, delegate, or subcontract its rights or obligations under this Agreement or otherwise engage agents to perform or assist in performing its duties and obligations under this Agreement without the prior written consent of
Galectin Therapeutics. For purposes of this Agreement, a merger, consolidation or sale of all or substantially all of a Party’s assets shall not be deemed an assignment; provided that such Party’s rights and obligations under this
Agreement shall be assumed by its successor in interest in any such transaction and shall not be transferred separate from all or substantially all of its other business assets, including those business assets that are the subject of this Agreement.
Any successor in interest to a Party may terminate this Agreement only pursuant to the terms hereof or pursuant to mutual written agreement with the other Party. 
 21.7. Language of the Agreement. This Agreement is written in the English language and the English language shall govern its interpretation. 

21.8. Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable or
inoperative, either in whole or in part, the remaining provisions shall 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 30 

 
be severable and continue in full force and effect, and the Parties shall negotiate in good faith enforceable, operative replacement provisions for the unenforceable or inoperative ones that
meets the original intention of the Parties as much as possible. 
 21.9. No Waiver. The failure of either Party to this
Agreement to insist upon the performance of any of its terms and conditions, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as later waiving any terms and conditions, but they shall continue
and remain in full force and effect as if no forbearance or waiver had occurred. 
 21.10. Headings. The headings of this
Agreement have been included solely for reference and are to have no force or effect in interpreting its provisions. 
 21.11.
Gender and Number. Words used in this Agreement, regardless of the number and gender specifically used, will be deemed and construed to include such other number, singular or plural, and such other gender, masculine, feminine, or neuter, as
the context requires and the term “including” or “includes” means including, without limiting the generality of any description preceding such term. 
 21.12. Counterparts. This Agreement may be executed in one (1) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument. 
 21.13. Notices. Any notice or other communication required or permitted by this Agreement shall be in
writing in the English language and sent to the following addresses (or such other addresses as provided in writing by the applicable Party): 

If to Galectin Therapeutics: 
 Galectin
Therapeutics Inc. 
 7 Wells Avenue 

Newton, MA 02459 
 Attn: CEO 

Fax No.: 617-928-3450 
 Telephone No.:
617-559-0033 
 If to Procaps: 

[PROCAPS TO COMPLETE] 
 Any
such notice or other communication shall be deemed given (a) when delivered personally, (b) three (3) Business Days after having been sent by registered or certified mail, return receipt requested, postage prepaid; (c) one
(1) day after deposit with a commercial express courier specifying next day delivery, with written verification or receipt, or (d) when acknowledged or confirmed after being faxed. 

Notwithstanding the foregoing, notices to be sent pursuant to Section 9.2 shall be sent via email to
                     (or such other email address as provided by Procaps) followed by a hard copy sent by fax. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 31 

 (Remainder of page intentionally left blank.) 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 32 

 IN WITNESS WHEREOF, the Parties by their duly authorized representatives have executed this
Agreement as of the Effective Date. 
  

			
	GALECTIN THERAPEUTICS, INC.
		
	By:	 	  

		
	Name:	 	 Dr. Peter G. Traber

		
	Title:	 	 CEO and President

	
	PROCAPS S.A.
		
	By:	 	  

		
	Name:	 	 Ruben Minski

		
	Title:	 	 President

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 33 

 Exhibit A 
 LICENSED MARKS 
 Trademarks, trade names, names, brands, logos and symbols for GM-CT-01
(DAVANAT®) in Latin America to be agreed upon by Procaps and by Galectin Therapeutics. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 34 

 Exhibit B 
 SPECIFICATIONS 
 The specifications shall be those specifications for the Compound set forth in
the Technical Dossier to be submitted to INVIMA. 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 35 

 Exhibit C 
 MARKETING AND DISTRIBUTION PLAN 
 To be provided by Procaps pursuant to Section 6.2

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 36 

 Exhibit D 
 MINIMUM ANNUAL SALES TARGETS 
 (In U.S. Dollars) 

 

													
	 YEAR
	  	SALES	 	 	PATIENTS	 	 	DOSES	 
	 One
	  	$	[****] million	  	 	 	[****	] 	 	 	[****	] 
	 Two
	  	$	[****] million	  	 	 	[****	] 	 	 	[****	] 
	 Three
	  	$	[****] million	  	 	 	[****	] 	 	 	[****	] 
	 Four
	  	$	[****] million	  	 	 	[****	] 	 	 	[****	] 
	 [****]
	  	 	[****	] 	 	 	[****	] 	 	 	[****	] 
		  	 
  
	Metric for Contract

    Minimums
	  
   
	 	 	example	  	 	 	example	  

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 37 

 Exhibit E 
 CURRENT AND FUTURE PROCAPS ONCOLOGY PRODUCTS 
 To be provided by Procaps before Regulatory
Approval 

  
  

 
 Portions of this Exhibit were omitted, as
indicated by [****], and have been provided separately to the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rules 24b-2 of the Securities Exchange Act of 1934, as amended.

 Page 38

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