Document:

INDEMNIFICATION
AGREEMENT

 

This
Indemnification Agreement, dated as of _____________, 20__, is made by and between LookSmart Group, Inc., a Nevada corporation
(the “Corporation”) and _______ (the “Indemnitee”).

 

RECITALS

 

A.        The
Corporation recognizes that competent and experienced persons are increasingly reluctant to serve or to continue to serve as directors
or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to
increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the
exposure frequently bears no reasonable relationship to the compensation of such directors and officers;

B.        The
statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous, or conflicting,
and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed
or information regarding the proper course of action to take;

C.        The
Corporation and Indemnitee recognize that plaintiffs often seek damages in such large amounts and the costs of litigation may
be so enormous (whether or not the case is meritorious), that the defense and/or settlement of such litigation is often beyond
the personal resources of directors and officers;

D.        The
Corporation believes that it is unfair for its directors and officers to assume the risk of huge judgments and other expenses
which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer
was not culpable;

E.        The
Corporation, after reasonable investigation, has determined that the liability insurance coverage presently available to the Corporation
may be inadequate in certain circumstances to cover all possible exposure for which Indemnitee should be protected. The Corporation
believes that the interests of the Corporation and its stockholders would best be served by a combination of such insurance and
the indemnification by the Corporation of the directors and officers of the Corporation;

F.        The
Corporation’s ByLaws require the Corporation to indemnify its directors and officers to the fullest extent permitted by
the Nevada Revised Statutes (the “NRS”). The ByLaws expressly provide that the indemnification provisions set forth
therein are not exclusive, and contemplate that contracts may be entered into between the Corporation and its directors and officers
with respect to indemnification;

G.        Section
78.751 of the NRS (“Section 78.751”), under which the Corporation is organized, empowers the Corporation to indemnify
its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Corporation,
as the directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification
provided by Section 78.751 is not exclusive;

    	 

    	 

    

H.        The
Board of Directors has determined that contractual indemnification as set forth herein is not only reasonable and prudent but
also promotes the best interests of the Corporation and its stockholders;

I.        The
Corporation desires and has requested Indemnitee to serve or continue to serve as a director or officer of the Corporation free
from undue concern for unwarranted claims for damages arising out of or related to such services to the Corporation; and

J.        Indemnitee
is willing to serve, continue to serve or to provide additional service for or on behalf of the Corporation on the condition that
he is furnished the indemnity provided for herein.

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth below, and other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

Section
1. Generally.

 

To
the fullest extent permitted by the laws of the State of Nevada:

 

(a)
The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact
that Indemnitee is or was or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of
the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the
request of the Corporation as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner
or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise,
or by reason of any action alleged to have been taken or omitted in such capacity. For the avoidance of doubt, the foregoing indemnification
obligation includes, without limitation, claims for monetary damages against Indemnitee in respect of an alleged breach of fiduciary
duties, to the fullest extent permitted under the NRS as in existence on the date hereof.

 

(b)
The indemnification provided by this Section 1 shall be from and against expenses (including attorneys’ fees), judgments,
fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with such action, suit or proceeding and any appeal therefrom, but shall only be provided if Indemnitee acted in good faith and
in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect
to any criminal action, suit or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

 

(c)
Notwithstanding the foregoing provisions of this Section 1, in the case of any threatened, pending or completed action or suit
by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director,
officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving
or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise, no indemnification shall be made in respect of any claim, issue
or matter as to which Indemnitee shall have been adjudged to be liable to the Corporation unless, and only to the extent that,
the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability
but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses
which such Nevada court shall deem proper.

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(d)
The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which
Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal
action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

Section
2. Successful Defense; Partial Indemnification. To the extent that Indemnitee has been successful on the merits or otherwise
in defense of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim, issue or matter therein,
Indemnitee shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred in connection
therewith. For purposes of this Agreement and without limiting the foregoing, if any action, suit or proceeding is disposed of,
on the merits or otherwise (including a disposition without prejudice), without (i) the disposition being adverse to Indemnitee,
(ii) an adjudication that Indemnitee was liable to the Corporation, (iii) a plea of guilty or nolo contendere by Indemnitee, (iv)
an adjudication that Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Corporation, and (v) with respect to any criminal proceeding, an adjudication that Indemnitee had
reasonable cause to believe Indemnitee’s conduct was unlawful, Indemnitee shall be considered for the purposes hereof to
have been wholly successful with respect thereto.

 

If
Indemnitee is entitled under any provision of this Agreement to indemnification by the Corporation for some or a portion of the
expenses (including attorneys’ fees), judgments, fines or amounts paid in settlement actually and reasonably incurred by
Indemnitee or on Indemnitee’s behalf in connection with any action, suit, proceeding or investigation, or in defense of
any claim, issue or matter therein, and any appeal therefrom but not, however, for the total amount thereof, the Corporation shall
nevertheless indemnify Indemnitee for the portion of such expenses (including attorneys’ fees), judgments, fines or amounts
paid in settlement to which Indemnitee is entitled.

 

Section
3. Determination That Indemnification Is Proper. Any indemnification hereunder shall (unless otherwise ordered by a court)
be made by the Corporation unless a determination is made that indemnification of such person is not proper in the circumstances
because he or she has not met the applicable standard of conduct set forth in Section 1(b) hereof. Any such determination shall
be made (i) by a majority vote of the directors who are not parties to the action, suit or proceeding in question (“disinterested
directors”), even if less than a quorum, (ii) by a majority vote of a committee of disinterested directors designated by
majority vote of disinterested directors, even if less than a quorum, (iii) by a majority vote of a quorum of the outstanding
shares of stock of all classes entitled to vote on the matter, voting as a single class, which quorum shall consist of stockholders
who are not at that time parties to the action, suit or proceeding in question, (iv) by independent legal counsel, or (v) by a
court of competent jurisdiction.

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Section
4. Advance Payment of Expenses; Notification and Defense of Claim.

 

(a)
Expenses (including attorneys’ fees) incurred by Indemnitee in defending a threatened or pending civil, criminal, administrative
or investigative action, suit or proceeding, or in connection with an enforcement action pursuant to Section 5(b), shall
be paid by the Corporation in advance of the final disposition of such action, suit or proceeding within thirty (30) days after
receipt by the Corporation of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time,
and (ii) an undertaking by or on behalf of Indemnitee to repay such amount or amounts, only if, and to the extent that, it shall
ultimately be determined that Indemnitee is not entitled to be indemnified by the Corporation as authorized by this Agreement
or otherwise. Such undertaking shall be accepted without reference to the financial ability of Indemnitee to make such repayment.
Advances shall be unsecured and interest-free.

 

(b)
Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim
thereof is to be made against the Corporation hereunder, notify the Corporation of the commencement thereof. The failure to promptly
notify the Corporation of the commencement of the action, suit or proceeding, or Indemnitee’s request for indemnification,
will not relieve the Corporation from any liability that it may have to Indemnitee hereunder, except to the extent the Corporation
is prejudiced in its defense of such action, suit or proceeding as a result of such failure.

 

(c)
In the event the Corporation shall be obligated to pay the expenses of Indemnitee with respect to an action, suit or proceeding,
as provided in this Agreement, the Corporation, if appropriate, shall be entitled to assume the defense of such action, suit or
proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election
to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Corporation,
the Corporation will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee
with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee’s
own counsel in such action, suit or proceeding at Indemnitee’s expense and (2) if (i) the employment of counsel by Indemnitee
has been previously authorized in writing by the Corporation, (ii) counsel to the Corporation or Indemnitee shall have reasonably
concluded that there may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on
any significant issue between the Corporation and Indemnitee in the conduct of any such defense or (iii) the Corporation shall
not, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee’s
counsel shall be at the expense of the Corporation, except as otherwise expressly provided by this Agreement. The Corporation
shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the
Corporation or as to which counsel for the Corporation or Indemnitee shall have reasonably made the conclusion provided for in
clause (ii) above.

 

(d)
Notwithstanding any other provision of this Agreement to the contrary, to the extent that Indemnitee is, by reason of Indemnitee’s
corporate status with respect to the Corporation or any corporation, partnership, joint venture, trust, employee benefit plan
or other enterprise which Indemnitee is or was serving or has agreed to serve at the request of the Corporation, a witness or
otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding,
the Corporation shall indemnify Indemnitee against all expenses (including attorneys’ fees) actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection therewith.

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Section
5. Procedure for Indemnification

 

(a)
To obtain indemnification, Indemnitee shall promptly submit to the Corporation a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and
to what extent Indemnitee is entitled to indemnification. The Corporation shall, promptly upon receipt of such a request for indemnification,
advise the Board of Directors in writing that Indemnitee has requested indemnification.

 

(b)
The Corporation’s determination whether to grant Indemnitee’s indemnification request shall be made promptly, and
in any event within 60 days following receipt of a request for indemnification pursuant to Section 5(a). The right to indemnification
as granted by Section 1 of this Agreement shall be enforceable by Indemnitee in any court of competent jurisdiction if the Corporation
denies such request, in whole or in part, or fails to respond within such 60-day period. It shall be a defense to any such action
(other than an action brought to enforce a claim for the advance of costs, charges and expenses under Section 4 hereof where the
required undertaking, if any, has been received by the Corporation) that Indemnitee has not met the standard of conduct set forth
in Section 1 hereof, but the burden of proving such defense by clear and convincing evidence shall be on the Corporation. Neither
the failure of the Corporation (including its Board of Directors or one of its committees, its independent legal counsel, and
its stockholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is
proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof, nor the
fact that there has been an actual determination by the Corporation (including its Board of Directors or one of its committees,
its independent legal counsel, and its stockholders) that Indemnitee has not met such applicable standard of conduct, shall be
a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct. The Indemnitee’s
expenses (including attorneys’ fees) incurred in connection with successfully establishing Indemnitee’s right to indemnification,
in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Corporation.

 

(c)
The Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon submission of a request for indemnification
pursuant to this Section 5, and the Corporation shall have the burden of proof in overcoming that presumption in reaching a determination
contrary to that presumption. Such presumption shall be used as a basis for a determination of entitlement to indemnification
unless the Corporation overcomes such presumption by clear and convincing evidence.

 

Section
6. Insurance and Subrogation.

 

(a)
The Corporation may purchase and maintain insurance on behalf of Indemnitee who is or was or has agreed to serve at the request
of the Corporation as a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director,
officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise
against any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such capacity, or arising
out of Indemnitee’s status as such, whether or not the Corporation would have the power to indemnify Indemnitee against
such liability under the provisions of this Agreement. If the Corporation has such insurance in effect at the time the Corporation
receives from Indemnitee any notice of the commencement of a proceeding, the Corporation shall give prompt notice of the commencement
of such proceeding to the insurers in accordance with the procedures set forth in the policy. The Corporation shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result
of such proceeding in accordance with the terms of such policy.

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(b)
In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required
and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporation
to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse
all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation.

 

(c)
The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (including,
but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that
Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy, contract, agreement or otherwise.

 

 

Section
7. Certain Definitions. For purposes of this Agreement, the following definitions shall apply:

 

(a)
The term “action, suit or proceeding” shall be broadly construed and shall include, without limitation, the investigation,
preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending
or completed claim, action, suit or proceeding, whether civil, criminal, administrative or investigative.

 

(b)
The term “by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Corporation, or
while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise” shall be broadly construed and shall include, without limitation, any actual or alleged act or omission
to act.

 

(c)
The term “expenses” shall be broadly and reasonably construed and shall include, without limitation, all direct and
indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements,
appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise
compensated by the Corporation or any third party, provided that the rate of compensation and estimated time involved is approved
by the Board, which approval shall not be unreasonably withheld), actually and reasonably incurred by Indemnitee in connection
with either the investigation, defense or appeal of a proceeding or establishing or enforcing a right to indemnification under
this Agreement, Section 78.751 of the NRS or otherwise.

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(d)
The term “judgments, fines and amounts paid in settlement” shall be broadly construed and shall include, without limitation,
all direct and indirect payments of any type or nature whatsoever (including, without limitation, all penalties and amounts required
to be forfeited or reimbursed to the Corporation), as well as any penalties or excise taxes assessed on a person with respect
to an employee benefit plan).

 

(e)
The term “Corporation” shall include, without limitation and in addition to the resulting corporation, any constituent
corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence
had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person
who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such
constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise, shall stand in the same position under the provisions of this Agreement with respect to the
resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence
had continued.

 

(f)
The term “other enterprises” shall include, without limitation, employee benefit plans.

 

(g)
The term “serving at the request of the Corporation” shall include, without limitation, any service as a director,
officer, employee or agent of the Corporation which imposes duties on, or involves services by, such director, officer, employee
or agent with respect to an employee benefit plan, its participants or beneficiaries.

 

(h)
A person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and
beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of
the Corporation” as referred to in this Agreement.

 

Section
8. Limitation on Indemnification. Notwithstanding any other provision herein to the contrary, the Corporation shall not
be obligated pursuant to this Agreement:

 

(a)
Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding
(or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce
a right to indemnification (which shall be governed by the provisions of Section 8(b) of this Agreement), unless such action,
suit or proceeding (or part thereof) was authorized or consented to by the Board of Directors of the Corporation.

 

(b)
Action for Indemnification. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action,
suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in establishing
Indemnitee’s right to indemnification in such action, suit or proceeding, in whole or in part, or unless and to the extent
that the court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish their
right to indemnification, Indemnitee is entitled to indemnity for such expenses; provided, however, that nothing in this Section
8(b) is intended to limit the Corporation’s obligation with respect to the advancement of expenses to Indemnitee in connection
with any such action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, as provided in Section
4 hereof.

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(c)
Section 16 Violations. To indemnify Indemnitee on account of any proceeding with respect to which final judgment is rendered
against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation
of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

 

(d)
Non-compete and Non-disclosure. To indemnify Indemnitee in connection with proceedings or claims involving the enforcement
of non-compete and/or non-disclosure agreements or the non-compete and/or non-disclosure provisions of employment, consulting
or similar agreements the Indemnitee may be a party to with the Corporation, or any subsidiary of the Corporation or any other
applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any.

 

Section
9. Certain Settlement Provisions. The Corporation shall have no obligation to indemnify Indemnitee under this Agreement
for amounts paid in settlement of any action, suit or proceeding without the Corporation’s prior written consent, which
shall not be unreasonably withheld. The Corporation shall not settle any action, suit or proceeding in any manner that would impose
any fine or other obligation on Indemnitee without Indemnitee’s prior written consent, which shall not be unreasonably withheld.

 

Section
10. Savings Clause. If any provision or provisions of this Agreement shall be invalidated on any ground by any court of
competent jurisdiction, then the Corporation shall nevertheless indemnify Indemnitee as to costs, charges and expenses (including
attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether
civil, criminal, administrative or investigative, including an action by or in the right of the Corporation, to the full extent
permitted by any applicable portion of this Agreement that shall not have been invalidated and to the full extent permitted by
applicable law.

 

Section
11. Contribution. In order to provide for just and equitable contribution in circumstances in which the indemnification
provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed
that, in such event, the Corporation shall, to the fullest extent permitted by law, contribute to the payment of Indemnitee’s
costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to
any action, suit or proceeding, whether civil, criminal, administrative or investigative, in an amount that is just and equitable
in the circumstances, taking into account, among other things, contributions by other directors and officers of the Corporation
or others pursuant to indemnification agreements or otherwise; provided, that, without limiting the generality of the foregoing,
such contribution shall not be required where such holding by the court is due to (i) the failure of Indemnitee to meet the standard
of conduct set forth in Section 1 hereof, or (ii) any limitation on indemnification set forth in Section 6(c), 8 or 9 hereof.

 

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Section
12. Form and Delivery of Communications. Any notice, request or other communication required or permitted to be given to
the parties under this Agreement shall be in writing and either delivered in person or sent by telecopy, telex, telegram, overnight
mail or courier service, or certified or registered mail, return receipt requested, postage prepaid, to the parties at the following
addresses (or at such other addresses for a party as shall be specified by like notice):

 

If
to the Corporation:

 

 

Attn:

Facsimile:

 

 

If
to Indemnitee:

 

 

Attn:

Facsimile:

 

 

Section
13. Subsequent Legislation. If the NRS is amended after adoption of this Agreement to expand further the indemnification
permitted to directors or officers, then the Corporation shall indemnify Indemnitee to the fullest extent permitted by the NRS,
 as so amended.

 

Section
14. Nonexclusivity. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not
be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Corporation’s Certificate
of Incorporation or ByLaws, in any court in which a proceeding is brought, the vote of the Corporation’s stockholders or
disinterested directors, other agreements or otherwise, and Indemnitee’s rights hereunder shall continue after Indemnitee
has ceased acting as an agent of the Corporation and shall inure to the benefit of the heirs, executors and administrators of
Indemnitee. However, no amendment or alteration of the Corporation’s Certificate of Incorporation or ByLaws or any other
agreement shall adversely affect the rights provided to Indemnitee under this Agreement

 

Section
15. Enforcement. The Corporation shall be precluded from asserting in any judicial proceeding that the procedures and presumptions
of this Agreement are not valid, binding and enforceable. The Corporation agrees that its execution of this Agreement shall constitute
a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by Indemnitee
for enforcement of his rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this
Agreement are unique and special, and that failure of the Corporation to comply with the provisions of this Agreement will cause
irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any
other right or remedy Indemnitee may have at law or in equity with respect to breach of this Agreement, Indemnitee shall be entitled
to injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement.

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Section
16. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced
so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

 

Section
17. Entire Agreement. This Agreement and the documents expressly referred to herein constitute the entire agreement between
the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings
or agreements with respect to the matters covered hereby are expressly superceded by this Agreement.

 

Section
18. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

Section
19. Successor and Assigns. All of the terms and provisions of this Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators
and legal representatives. The Corporation shall require and cause any direct or indirect successor (whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement in
form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent that the Corporation would be required to perform if no such succession had taken place.

 

Section
20. Service of Process and Venue. For purposes of any claims or proceedings to enforce this agreement, the Corporation
consents to the jurisdiction and venue of any federal or state court of competent jurisdiction in the state of Nevada, and waives
and agrees not to raise any defense that any such court is an inconvenient forum or any similar claim.

 

Section
21. Supercedes Prior Agreement. This Agreement supercedes any prior indemnification agreement between Indemnitee and the
Corporation or its predecessors.

 

Section
22. Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of
Nevada, as applied to contracts between Nevada residents entered into and to be performed entirely within Nevada. If a court of
competent jurisdiction shall make a final determination that the provisions of the law of any state other than Nevada govern indemnification
by the Corporation of its officers and directors, then the indemnification provided under this Agreement shall in all instances
be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary.

 

Section
23. Employment Rights. Nothing in this Agreement is intended to create in Indemnitee any right to employment or continued
employment.

 

Section
24. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original
and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories
to the original or same counterpart.

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Section
25. Headings. The section and subsection headings contained in this Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation of this Agreement.

 

IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered to be effective as of the date first above written.

 

	 	LOOKSMART GROUP, LTD.
	 	 
	 	By _______________________________________
	 	Name:
	 	Title:
	 	 
	 	INDEMNITEE:
	 	By _______________________________________
	 	Name:EX-10.1

 Exhibit 10.1 

Execution version 
 ROYALTY
AGREEMENT 
 This Royalty Agreement (the “Royalty Agreement”), dated as of April 29, 2015 (“Agreement
Date”), is by and between Cleveland BioLabs, Inc., a Delaware corporation (“CBLI”), and Incuron LLC, a limited liability company organized under the laws of the Russian Federation (“Incuron”; together with
CBLI, the “Parties”, and each a “Party”). 
 WHEREAS, CBLI has the full and exclusive right to certain
inventions described in Patent Rights; 
 WHEREAS, in consideration of the assignment of the Patent Rights Incuron is willing to pay
royalties on Net Sales of the Royalty-bearing Products, sublicense fees and Change of Control transactions as set forth herein; and 
 NOW,
THEREFORE, for and in consideration of the promises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto expressly agree as follows: 

 

	1.	DEFINITIONS 

 As used in this Agreement, the following terms shall have the meanings ascribed thereto:

  

	 	1.1.	“Affiliates” means any Person that, directly or indirectly, owns, or controls through one or more intermediaries (through ownership of at least fifty percent (50%) of the entity’s common stock
or other ownership interest or through its right to control the management thereof) another Person. For the avoidance of doubt, the term Affiliates shall include, but not be limited to those Persons listed on Exhibit A. 

 

	 	1.2.	“Business Day” means a day other than a Saturday, Sunday, or a federal holiday in either the United States or the Russian Federation. 

 

	 	1.3.	“Change of Control” means the sale of all or substantially all of the assets of Incuron (including Curaxin Technology); any merger, consolidation or acquisition of Incuron with, by or into
another corporation, entity or person; or any change in the ownership of more than fifty percent of the equity interests of Incuron in one or more related transactions, or any of the foregoing relating to the transfer or sale of the business
relating to Curaxin-derived Products. Notwithstanding the foregoing, any direct investment in Incuron in the form of debt or equity financing, where such investment is not in consideration for transfer by Incuron of any rights to Curaxin Technology
or Curaxin-derived Products, shall not be deemed to be a Change of Control. 

  

	 	1.4.	“Curaxin-derived Product(s)” means any product, process or service that incorporates, utilizes or is made with the use of the Curaxin Technology and/or the Patent Rights. 

 

	 	1.5.	“Curaxin Technology” means any technology related to or utilizing CBL0137, a novel DNA intercalator that inhibit NF-kB and activates p53 through suppression of Facilitates Chromatin Transcription
(FACT). 

  

	 	1.6.	“Improvement Products” means any new or modified product, process or service that (i) performs the same or similar function as the Curaxin-derived Product(s), or (ii) could not have been
discovered, made or used without the use of the Curaxin Technology and/or the Patent Rights. 

  

	 	1.7.	“Net Sales” means the gross amount received by Incuron, or its Affiliates as consideration for the sale, lease, sublease, license, sublicense or other transfer for value to a Third Party of
Royalty-bearing Products, less: 

  

	 	(a)	any royalty, license, milestones and other payments for intellectual property rights acquired and/or licensed by Incuron or Sublicensee in relation to development, manufacturing and/or distribution of Royalty-bearing
Product(s); 

  
 -1- 

 Execution version 
  

	 	(b)	customary trade quantity or cash discounts, credits, and allowances to the extent actually allowed and taken, (collectively, “Credits”), provided, however that Credits shall not include any
discounts, credits or allowances given with respect to the sale of a Royalty-bearing Product below cost for the purpose of inducing the purchase of another product; 

 

	 	(c)	credits or refunds separately and actually credited or paid by reason of rejection or return of a Royalty-bearing Product in an amount not to exceed the originally invoiced amount; 

 

	 	(d)	to the extent separately stated on purchase orders, invoices or other documents of sale, excise, sales or use taxes that are actually paid, absorbed or allowed by or on behalf of Incuron, an Affiliate, or Sublicensee
for the sale a Royalty-bearing Product; 

  

	 	(e)	discounts or rebates mandated by, or granted to meet the requirements of, applicable law, including government-mandated rebate or discount programs; and 

 

	 	(f)	any taxes, duties, fees, excises, tariffs 

 all in accordance with standard allocation
procedures, allowance methodologies and accounting methods consistently applied. 
 The term “Net Sales” in the case of
non-cash sales, shall mean the fair market value of all equivalent or other consideration received by Incuron for the sale, lease, sublease, license, sublicense or other transfer for value of the Royalty-bearing Products. 

 

	 	1.8.	“Patent Rights” means International (PCT) patent application Serial No. PCT/US15/24514 entitled COMBINATION THERAPIES WITH CURAXINS filed at the U.S. Patent and Trademark Office, as Receiving Office,
the inventions described and claimed therein, and all other pending patent applications or parts thereof and any patent which issues from any such pending applications and any and all divisions, reissues, re-examinations, renewals, continuations,
continuations-in-part to the extent the claims are directed to subject matter described in the aforementioned patent application, and all other patent applications that are filed in the future that incorporate or rely upon the Curaxin Technology,
including, all other pending patent applications or parts thereof and any patent which issues from any such future applications and any and all divisions, reissues, re-examinations, renewals, continuations, continuations-in-part to the extent the
claims are directed to subject matter described in such future patent application and are dominated by the claims of the existing Patent Rights, and extensions thereof, and all other counterpart, pending or issued patents in all other countries.

  

	 	1.9.	“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or
subdivision thereof) or other entity of any kind. 

  

	 	1.10.	“Royalties” shall have the meaning set forth in Section 3.1. 

  

	 	1.11.	“Royalty-bearing Product(s)” means the Curaxin-derived Products and the Improvement Products. 

  

	 	1.12.	“Royalty Term” shall have the meaning set forth in Section 6.1. 

  

	 	1.13.	“Sublicensee” means a licensee or sublicensee of any of the Curaxin Technology and/or Patent Rights, excluding licensees or sublicensees that are the Affiliates of Incuron. 

 

	 	1.14.	“Third Party” means any entity other than CBLI, Incuron, and their respective Affiliates. 

  
 -2- 

 Execution version 
  

	2.	ASSIGNMENT 

  

	 	2.1.	CBLI does hereby sell, assign and transfer to Incuron, its successors, assigns, and legal representatives, the full and exclusive right to the Patent Rights; 

 

	 	2.2.	CBLI does hereby agree that Incuron may apply for and receive Letters Patent for inventions covered by Patent Rights, hereinafter referred to as said inventions, in its own name, in the United States, its territorial
possessions, and all foreign countries; and that, when requested to carry out in good faith the intent and purpose of this assignment, at the expense of Incuron, its successors, assigns and legal representatives, the undersigned will execute all
continuations-in-part, continuations, divisions, substitutes, reissues, extensions thereof, execute all rightful oaths, declarations, assignments, powers of attorney and other papers, testify in any legal or quasi legal proceedings; communicate to
Incuron, its successors, assigns or legal representatives all facts known to the undersigned relating to said invention and the history thereof; and generally do everything possible which Incuron, its successors, assigns, or legal representatives
shall consider desirable for aiding in securing, maintaining and enforcing proper patent protection for said invention and for vesting title to said invention and all patents and applications for patents on said invention in Incuron, successors,
assigns, or legal representatives; and 

  

	 	2.3.	CBLI does hereby covenant with Incuron, its successors, assigns, or legal representatives that no assignment, grant, mortgage, license or other agreement affecting the rights and property herein conveyed has been made
to others by the undersigned, and that full right to convey the same has herein expressed is possessed by the undersigned. 

  

	 	2.4.	The parties shall execute the assignment agreement attached hereto as Exhibit B for filing with the U.S. Patent and Trademark Office as the receiving office concurrently with this Agreement. 

 

	3.	CONSIDERATION  

  

	 	3.1.	In consideration for and subject to the assignment of the Patent Rights, during Royalty Term Incuron shall pay to CBLI a running royalty of 2% (collectively, the “Royalties”) on: 

 

	 	i.	Net Sales received by Incuron or its Affiliates; 

  

	 	ii.	any and all consideration received from a Sublicensees to Incuron for the right to sublicense Royalty-bearing Products, including milestones, royalties paid on account of sales, equity or any other consideration
received by Incuron for a license or sublicense of the Patent Rights and/or Curaxin Technology); and 

  

	 	iii.	all consideration received in connection with the first occurrence of a Change of Control of Incuron (irrespective of when such amounts are paid), provided, however, that if such Change of Control event occurs in a
transaction that is not with a Third Party or is not entered into in good faiththen the 2% royalty shall be based on the fair valuation of the assets or equity sold in such transaction. The Parties have agreed that CBLI may only contest the good
faith criteria of the Change of Control consideration within six (6) months following the date on which Incuron provides CBLI notice of a definitive agreement. 

For the purposes of clarification, nothing set forth in this Section 3.1, shall require the payment of Royalties on any amounts received
by Incuron in connection with any direct investment in Incuron in the form of debt or equity financing, where such investment is not in consideration for transfer by Incuron of any rights to Curaxin Technology or Curaxin-derived Products. 

  
 -3- 

 Execution version 
  

	4.	ROYALTY REPORTING 

  

	 	4.1.	Incuron shall notify CBLI of the date on which Incuron, or any Sublicensee makes the first sale of a Royalty-bearing Product in each country in which it occurs within thirty (30) days of first becoming aware of
such sale. 

  

	 	4.2.	Incuron shall notify CBLI on the date on which Incuron or its Affiliates enter into a definitive agreement (a) for the license or sublicense of any of the Patent Rights, Curaxin Technology or Royalty-bearing
Products, or (b) which will lead to a Change of Control of Incuron and provide to CBLI on such date with a copy of such license, sublicense or Change of Control agreement or an abstract therefrom relating to the consideration due in case of
Incuron is restricted by confidentiality from sending the full document and CBLI agrees to be bound by whatever confidentiality constraints are required of Incuron with regard to the documents. 

 

	 	4.3.	Following the date of first sale of a Royalty-bearing Product and during the Royalty Term, Incuron shall submit to CBLI within forty-five (45) days after each of
March 31, June 30, September 30 and December 31, a royalty report setting forth for such calendar quarter at least the following information: 

 

	 	(a)	the number of Royalty-bearing Products sold by Incuron, its Affiliates or Sublicensees in each country; 

  

	 	(b)	total revenues for such Royalty-bearing Products received by Incuron or its Affiliates and total revenues for such Royalty-bearing Products reported to be received by a Sublicensee, if applicable, as well as information
regarding Incuron’s, or its Affiliates, date of the receipt and currency of payment with regard to any and all receipts used in calculating Net Sales; 

  

	 	(c)	the amount of Net Sales of Royalty-bearing Products; 

  

	 	(d)	itemized deductions taken to gross sales to determine the amount of Net Sales pursuant to Section 1.7; and 

  

	 	(e)	the amount of royalties due, or, if no royalties are due to CBLI for any reporting period, the statement that no royalties are due. 

  

	 	4.4.	Incuron shall pay to CBLI within ten (10) Business Days after delivery of each such royalty report the amount of royalties with respect to such calendar quarter. 

 

	 	4.5.	All payments due hereunder are payable by wire transfer in United States dollars. For Net Sales receipts in currencies other than the United States dollar, Incuron shall use exchange rates published in The Wall
Street Journal on the date of receipt of Net Sales receipts. For payments related to a Change of Control transaction in a currency other than the United States dollar, Incuron shall use the exchange rates published in The Wall Street
Journal on the closing date(s) of the Change of Control transaction. 

  

	 	4.6.	Late payments shall, unless disputed in writing by Incuron, be subject to late payment interest at an annual rate equal to The Wall Street Journal Prime Rate (as most recently published by The Wall Street
Journal prior to the date on which such payment became due) plus 2% per annum, until paid. Incuron shall calculate the correct late payment charge, and shall add it to each such late payment. 

 

	 	4.7.	Payments shall be made by wire transfer using the wiring instructions below, which may be amended by CBLI not later than three (3) days prior to the required payment date. 

Cleveland BioLabs Inc. 
 73 High
Street Buffalo, NY 14203 
 Bank: M&T Bank (Manufacturers and Trades Trust Company) 

  
 -4- 

 Execution version 
  

 Buffalo, NY 

Bank Acct: 
 ABA: 

SWIFT: MANTUS33 
  

	 	4.8.	The terms and conditions of Article 3, shall not become effective until such time as Incuron’s rights to the Patent Rights is registered with U.S. Patent and Trademark Office as the receiving office for the filing
of the assignment agreement attached hereto as Exhibit B. Incuron shall be responsible and shall incur all costs and expenses of such registrations. Incuron shall file for all registration within five (5) Business Days of the signing of
this Agreement and the assignment agreement attached hereto as Exhibit B. 

  

	5.	RECORDS AND INSPECTION 

  

	 	5.1.	As long as Incuron is under obligation to pay Royalty: 

  

	 	i.	Incuron shall maintain or cause to be maintained a true and correct set of records pertaining to the use of the Curaxin Technology and Patent Rights and the information by which the payments are calculated under this
Agreement; 

  

	 	ii.	Incuron agrees to permit an accountant selected and paid by CBLI and reasonably acceptable to Incuron to have, upon not less than five (5) Business Days’ prior written notice, reasonable access during ordinary
business hours to such records as are maintained by Incuron to the extent necessary to determine the correctness of any royalty report submitted and/or payment made under this Royalty Agreement for the period not exceeding twelve (12) month
prior to notice. In the event that the audit reveals an underpayment of royalties by more than five percent (5%) for the period being audited, the cost of the audit shall be paid by Incuron. Such accountant shall maintain in confidence, and
shall not disclose to CBLI, any information concerning Incuron or its operations or properties other than information directly relating to the correctness of such reports and payments. 

 

	6.	ROYALTY TERM 

  

	 	6.1.	The obligation to pay royalties on Royalty-bearing Products shall expire on the tenth (10th) anniversary of the Agreement Date unless the obligation to pay royalties is terminated earlier under this Section 6
(“Royalty Term”). 

  

	 	6.2.	Incuron may terminate the obligation to pay Royalties hereunder, at its convenience 

  

	 	i.	on or before 30 June 2016, by paying CBLI One Million Five Hundred Thousand U.S. Dollars (US$1,500,000) subject to applicable withholding by wire transfer of immediately available funds to the account listed in
Section 3.7, which payment must be received by CBLI not later than 5:00PM EST on 30 June, 2016; 

  

	 	ii.	after 30 June 2016 and on or before 30 June, 2017, by paying to CBLI Three Million U.S. Dollars (US$3,000,000) subject to applicable withholding wire transfer of immediately available funds to the account
listed in Section 3.7, which payment must be received by CBLI not later than 5:00PM EST on 30 June, 2017; or 

  

	 	iii.	after 30 June, 2017 and on or before December 31, 2017, by paying to CBLI Six Million U.S. Dollars (US$6,000,000) subject to applicable withholding by wire transfer of immediately available funds to the
account listed in Section 3.7, which payment must be received by CBLI not later than 5:00PM EST on December 31, 2017. 

  

	 	iv.	In addition, in the event that Incuron or its Affiliates consummates a Change of Control transaction within the six (6) month period following the payment of any applicable buy-out option amount under this
Section 6.2, then Incuron also shall pay to CBLI (immediately upon closing of such transaction) an amount, when added to any prior amount paid under this Section 6.2, would equal the aggregate amount had the buy-out option not been
exercised. 

  
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 Execution version 
  

	 	6.3.	Incuron’s obligation to pay Royalties pursuant to Section 3.1.i.-ii. shall stop accruing and the obligation to pay further royalties pursuant to Section 3.1.i.-ii. shall terminate without any further
effect or consequence upon the full payment by Incuron (or its participants) required pursuant to Section 3.i.iii. 

  

	 	6.4.	Incuron may, at its option terminate this agreement sixty (60) days after giving written notice of termination to CBLI in case of CBLI committing any act of bankruptcy, including filing a petition under any
bankruptcy or having any such petition filed against it by a party which in not Incuron or its Affiliates and which is not dismissed within sixty (60) days. Notwithstanding the foregoing, CBLI may avoid such termination if before the end of
sixty (60) day period, CBLI notifies Incuron in writing that such petition has been dismissed and respective documents and documents confirming such dismissal have need delivered to Incuron’s satisfaction. 

 

	7.	WITHHOLDING. If Laws require that taxes be withheld with respect to any payments to CBLI under this Agreement, Incuron will: (i) deduct those taxes from the remittable payment, (ii) pay the taxes
to the proper Governmental Authority, and (iii) send evidence of the obligation together with proof of tax payment to CBLI, as applicable, on a timely basis following that tax payment. Each Party agrees to cooperate with the other Party in
claiming refunds or exemptions from such deductions or withholdings under any relevant agreement or treaty that is in effect. Notwithstanding the foregoing, any payments hereunder that are subject to withholding tax and for which Incuron has
provided evidence under (iii) above shall be deemed paid in full upon receipt of the payment and the evidence under (iii). 

  

	8.	ASSIGNABILITY 

  

	 	8.1.	Without the prior written approval of the other Party, which approval cannot be unreasonably withheld except for the cases of transfer or assignment to a competitor of Incuron or its Affiliates, neither this Royalty
Agreement nor the rights granted hereunder shall be transferred or assigned in whole or in part by either Party to any person. Notwithstanding the foregoing, either Party may transfer this Royalty Agreement and its rights and obligations hereunder
without the other Party’s consent, (i) in connection with the transfer or sale of all or substantially all of its assets or participation interests, or the business to which this Agreement relates, or (ii) to an Affiliate; provided in
each case that such transferee expressly assumes all obligations under this Agreement. In addition, Incuron shall assign this Agreement (and provide written evidence of such assignment to CBLI) to any Third Party successor in interest of or acquiror
of legal or equitable interest in the Curaxin Technology. This Royalty Agreement shall be binding upon and shall inure to the benefit of the respective successors, legal representatives and assignees of each of the Parties. 

 

	9.	COVENANTS AND WARRANTIES OF THE PARTIES 

  

	 	9.1.	CBLI hereby covenants that it has the full right to convey the entire right, title and interest herein assigned and that it has not executed and will not execute any agreement in conflict herewith. 

 

	 	9.2.	CBLI hereby represents and warrants has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder.
The execution and delivery of this Agreement by CBLI and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of CBLI and no further action is required by CBLI or its board of
directors or its stockholders. 

  

	 	9.3.	CBLI hereby covenants and agrees that it will communicate to Incuron all facts known to it pertaining to the inventions represented by the Patent Rights, and, upon the Incuron’s request and at Incuron’s cost,
will promptly take such actions as may be reasonably necessary to vest, secure, perfect, protect or enforce the ownership rights and interests of Incuron in and to the Patent Rights. 

  
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 Execution version 
  

	 	9.4.	CBLI warrants that (i) it is the sole and exclusive owner of the Patent Rights; (ii) CBLI has the legal right to make the grant of assignment hereunder; (iii) this Agreement is a legal and valid
obligation binding upon CBLI and enforceable in accordance with its terms; and (iv) the execution, delivery and performance of this Agreement by CBLI does not conflict with any agreement, instrument or understanding, oral or written, to which
CBLI is a party or by which he may be bound. 

  

	 	9.5.	Incuron hereby represents and warrants has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations
hereunder. The execution and delivery of this Agreement by Incuron and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Incuron and no further action is required by
Incruon or its board of directors or its participants. 

  

	 	9.6.	No Other Representation. Nothing in this Agreement will be construed as a representation or warranty by CBLI: (a) as to the patentability, validity, scope, or usefulness of the Patent Rights; or
(b) that the Royalty Bearing Products or anything else made, used, sold, or otherwise disposed of under the Patent Rights or using the Curaxin Technology or this Agreement is or will be free from infringement of third-party patents or other
proprietary rights, or other patents or other proprietary rights not included in the Patent Rights. 

  

	 	9.7.	DISCLAIMER AND LIMITATION. CBLI EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, PERTAINING TO THE MERCHANTIBILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THE PATENT
RIGHTS, THE CURAXIN TECHNOLOGY, THE ROYALTY BEARING PRODUCTS, OR ANYTHING ELSE DISCLOSED, OR OTHERWISE PROVIDED TO INCURON UNDER THIS AGREEMENT. 

  

	10.	GOVERNMENTAL COMPLIANCE. Incuron shall, during the term specified in Section 6.1 above, comply, and cause its Affiliates and Sublicensees to comply with, all laws of the jurisdictions where the import,
export, manufacture, use, sale, marketing, distribution and other commercial exploitation of the Curaxin Technology, Patent Rights, Royalty-bearing Products and any other activity undertaken pursuant to this Royalty Agreement takes place.

  

	11.	NOTICES. All notices, reports or other communication pursuant to this Royalty Agreement shall be sent to such Party via (i) United States Postal Service postage prepaid, (ii) overnight courier, or
(iii) email or facsimile transmission, addressed to it at its address set forth below or as it shall designate by written notice given to the other Party. Notice shall be sufficiently made, or given and received (a) on the date of mailing,
(b) when a facsimile printer reflects transmission or (c) on the date of acknowledgement of email receipt. 

  

					
	 In the case of CBLI:

	 Title:
		Chief Executive Officer
	 Address:
		73 High Street
			Buffalo, New York 14203
	 Telephone No.
		+1-716-849-6810
	 Facsimile No.
		+1-716-849-6820
	 E-Mail
				notices@cbiolabs.com
	 In the case of Incuron:

	 Title:
		Chief Executive Officer
	 Address:
		6 Stolovy pereulok, Moscow, Russia 121069
	 Telephone No.
		+7-495-974-74-01, ext.171
	 Facsimile No.
		+7-495-974-74-02
	 E-Mail
				leonov@bioprocess.ru

  

	12.	 GOVERNING LAW. All questions concerning the construction, validity, enforcement and interpretation of this Royalty Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of 

  
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 Execution version 
  

	 	
conflicts of law thereof. Each party agrees that all legal proceedings concerning the construction, validity, enforcement and interpretation of this Royalty Agreement (whether brought
against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) (“Legal Proceeding”) must be brought in the U.S. District Court for the Western District of New York
(Buffalo Division) or, only to the extent that there is no federal jurisdiction, any state court of New York sitting in Buffalo. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Buffalo,
New York for the adjudication of any Legal Proceeding and hereby irrevocably waives, and agrees not to assert in any such Legal Proceeding any claim that it is not personally subject to the jurisdiction of any such court or that any such court is an
inconvenient venue. Each party hereby irrevocably waives personal service of process and consents to process being served in any Legal Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of
delivery) to such party at the address in effect for notices to it under this Royalty Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any other manner permitted by law. If either party shall commence a Legal Proceeding, then the prevailing party in such Legal Proceeding shall be reimbursed by the other party for any and all
related costs, charges and expenses, including reasonable attorneys’ fees. A party that successfully moves to dismiss a Legal Proceeding is, without limitation, a prevailing party. This Section 12 shall survive the
expiration or earlier termination of this Royalty Agreement. 

  

	13.	ENTIRE AGREEMENT. The terms and conditions herein constitute the entire agreement between the Parties and shall supersede all previous agreements, either oral or written, between the Parties hereto with respect
to the subject matter hereof. No agreement of understanding bearing on this Royalty Agreement shall be binding upon either Party hereto unless it shall be in writing and signed by the duly authorized officer or representative of each of the Parties
and shall expressly refer to this Royalty Agreement. 

  

	14.	COUNTERPARTS. This Royalty Agreement may be executed in to or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  

	15.	FURTHER ASSURANCES. Each of the Parties agree to duly execute and deliver, or cause to be executed and deliver, such further instruments and do and cause to be done such further acts and things, including,
without limitation, the filing of such additional assignments, agreements, documents and instruments, that may be necessary in order to carry out the purpose and intent of this Royalty Agreement. 

 

	16.	WITHHOLDING. Any payments set forth herein are gross payments. Any withholding or other taxes that Incuron is required by law to withhold and actually withholds and pays on behalf of CBLI with respect to any
payments hereunder shall be deducted from gross payments and remitted to the taxing authority; provided, however, that for tax so deducted, Incuron shall furnish CBLI with documentation of the taxes paid on its behalf which are reasonably required
by CBLI. 

 [Signatures follow] 

  
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 Execution version 
  

 IN WITNESS WHEREOF, the Parties hereto have executed and delivered this Royalty Agreement in
counterpart originals by their duly authorized officers and representatives effective as of the Agreement Date. 
  

			
	CLEVELAND BIOLABS, INC.
		
	By		 /s/ Leah Brownlee

	Name:		Leah Brownlee, J.D.
	Title:		EVP, Compliance and Operations
	
	INCURON, LLC
		
	By		 /s/ Andrey Leonov

	Name:		Andrey Leonov, Ph.D.
	Title:		Chief Executive Officer

 [Signature Page to CBLI-Incuron Royalty Agreement] 

 Execution version 
  

 Exhibit A 

Affiliates 
 BioProcess Capital Partners
and its Affiliates 
 BioProcess Capital Ventures and its Affiliates 

Mikhail Mogutov and his Affiliates 

  
 A-1 

 Execution version 
  

 Exhibit B 

ASSIGNMENT AGREEMENT 
 This Assignment
Agreement (“Agreement”) is dated as of April 29, 2015 (“Effective Date”). 
 WHEREAS, Cleveland BioLabs, Inc., a Delaware
corporation maintaining facilities at 73 High Street Buffalo, NY 14203 (“Assignor”), represented by Leah Brownlee, EVP, Compliance and Operations, has the full and exclusive right to certain inventions for which an application for
United States Letters Patent entitled COMBINATION THERAPIES WITH CURAXINS was filed at the U.S. Patent and Trademark Office on April 6, 2014 and assigned U.S. Patent Application Serial No. 61/975,865 and an international (PCT) patent
application entitled COMBINATION THERAPIES WITH CURAXINS was filed at the U.S. Patent and Trademark Office, as Receiving Office, on April 6, 2015 and assigned Application Serial No. PCT/US15/24514 (the “Inventions”). 

WHEREAS, Assignor’s full and exclusive right is derived from that certain Assignment Agreement with Buffalo BioLabs, LLC a New York limited
liability company maintaining facilities at 73 High Street Buffalo, NY 14203, dated April 20, 2015 in which Buffalo BioLabs, LLC transferred to Cleveland BioLabs the full and exclusive right to Inventions;, Buffalo BioLabs, LLC
having acquired such rights on the basis of those certain Assignment Agreements with inventor Catherine Burkhart, dated April 20, 2015, 
 NOW
THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, Cleveland BioLabs, Inc. does hereby: 
  

	 	•	 	sell, assign and transfer to Incuron, LLC (hereinafter referred to as “Assignee”), a Russian limited liability company having a place of business at 6 Stolovy pereulok, Moscow, Russia 121069,
represented by Andrey Leonov, CEO, its successors, assigns, and legal representatives, the full and exclusive right to Inventions and related patents and patent applications and to any and all inventions described in the Inventions and the above
mentioned patents and patent applications and to any and all inventions described in said patents and patent applications for the United States, its territorial possessions and all foreign countries, and the entire right, title and interest in and
to any and all Letters Patent or its equivalents which may be granted therefor in the United States, its territorial possessions and all foreign countries; and in and to any and all provisionals, continuations-in-part, continuations, divisions,
substitutes, reissues, extensions thereof, and all other applications for Letters Patent or its equivalents relating thereto which have been or shall be filed in the United States, its territorial possession and/or any foreign countries, and all
rights, together with all priority rights, under any of the international conventions, unions, agreements, act, and treaties, including all future conventions, unions, agreements, acts, and treaties; 

 

	 	•	 	agree that Assignee may apply for and receive Letters Patent or its equivalents for the Inventions, in its own name, in the United States, its territorial possessions, and all foreign countries; and that, when requested
to carry out in good faith the intent and purpose of this assignment, at the expense of said Assignee, its successors, assigns and legal representatives, the Assignor will execute all continuations-in-part, continuations, divisions, substitutes,
reissues, extensions thereof, execute all rightful oaths, declarations, assignments, powers of attorney and other papers, testify in any legal or quasi legal proceedings; communicate to said Assignee, its successors, assigns or legal representatives
all facts known to the Assignor relating to the Inventions and the history thereof; and generally do everything possible which said Assignee, its successors, assigns, or legal representatives shall consider desirable for aiding in securing,
maintaining and enforcing proper patent protection for the Inventions and for vesting title to the Inventions and all patents and applications for patents on the Inventions in said Assignee, successors, assigns, or legal representatives; and

  

	 	•	 	covenant with said Assignee, its successors, assigns, or legal representatives that no assignment, grant, mortgage, license or other agreement affecting the rights and property herein conveyed has been made to others by
the undersigned, and that full right to convey the same has herein expressed is possessed by the Assignor. 

 This Agreement embodies the
entire agreement among the parties in relation to its subject matter, and supersedes in their entirety all prior contracts, agreements, arrangements, communications, discussions, representations and warranties, whether oral or written among the
parties, relating to such subject matter. 

  
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 Execution version 
  

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

			
	CLEVELAND BIOLABS, INC.
		
	Signature:		  

	Name:		Leah Brownlee
	Title:		EVP, Compliance and Operations
	
	INCURON, LLC
		
	Signature:		  

	Name:		Andrey Leonov
	Title :		CEO

  
 B-1

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