Document:

EXHIBIT
10.01

 

Execution
Copy

 

MASTER
SERVICE AGREEMENT

 

This
Master Service Agreement (“Agreement”) is dated as of August 12, 2020 (the “Effective Date”) by and between
FOUNDATION FOR ANGELMAN SYNDROME THERAPEUTICS, “FAST”, a California corporation with a principal place of business
in Illinois, US, and Lixte Biotechnology Holdings, Inc., a Delaware corporation (“Company”). FAST and Company may
be referred to herein as a “Party” or, collectively, as “Parties”.

 

RECITALS:

 

WHEREAS,
FAST is a California non-profit 501(c)(3) organization dedicated to funding research for treatments and a cure for Angelman Syndrome
(“AS”); and

 

WHEREAS,
FAST has made a grant to the Regents of the University of California on behalf of its Davis campus (“Institution”)
with a project under the direction of Dr. David Segal to create a stable infrastructure for the rapid testing of potential therapeutics
in rodent models of AS; and

 

WHEREAS,
Company would like to test its compound LB-100 (together with all analogs, metabolites and/or active forms thereof, and all derivatives
or parts of the foregoing, the “Compound”) for potential therapeutic effect in rodent models of AS utilizing the infrastructure
at Institution funded by FAST.

 

NOW,
THEREFORE, in consideration of the various promises and undertakings set forth herein, the Parties agree as follows:

 

ARTICLE
1.

 

DEFINITIONS

 

1.1.
“Background Intellectual Property” of a Party or of Institution means all intellectual property rights: (a) owned
or controlled by such Party or Institution on or prior to the date of this Agreement or (b) acquired or developed by such Party
or Institution after the date of this Agreement other than in connection with the performance of the Services or performance of
this Agreement, including such rights in any Materials (as defined below), copyrights, inventions (whether or not patentable),
software, know-how, United States and foreign patent applications claiming said patentable inventions, including any divisional,
continuation, continuation-in-part (to the extent that the claims are directed to said patentable inventions), and foreign equivalents
thereof, as well as any patents issued thereon or reissues or reexaminations thereof.

 

1.2.
“Data” shall mean all results, data and information (including analytical, pre- clinical, clinical, safety, manufacturing
and quality control), study designs and protocols generated in the performance of the Services under this Agreement.

 

1.3.
“Invention” shall mean all inventions, invention disclosures, formulae, compositions, program, software, works of
authorship, products, methods or processes, innovations, discoveries, findings and improvements (whether or not patentable), assays,
materials (including biological, pharmacological, toxicological, pharmaceutical and chemical), and research tools discovered,
conceived, invented or first reduced to practice (collectively, “Invented”) in the performance of the Services by
(or on behalf of) FAST or Institution (whether solely or jointly with another person or entity), but in no event including Data.
For the avoidance of doubt, Inventions are not Background Intellectual Property.

 

     

     

    

 

1.4.
“Patents” shall mean all patents and patent applications, including divisionals, continuations, continuations-in-part,
converted provisionals and any and all extensions or restorations.

 

1.5.
“Services” means the research services to be performed by or on behalf of FAST and Institution under this Agreement,
including under a Project Agreement (as defined below).

 

1.6.
“Project Agreement” means a written agreement defining a project scope of work, and expected deliverables that is
executed by both Parties. A Project Agreement is deemed to be incorporated by reference into, and subject to the terms and conditions
of this Agreement.

 

ARTICLE
2.

 

SERVICES

 

2.1.
The Services shall be provided by Institution in accordance with this Agreement and the FAST Infrastructure Grant Agreement between
the Fast and Institution dated February 1, 2020 (Grant Number FT2020-002) (the “Institution Agreement”). FAST shall
direct Institution to commence the Services after the Effective Date and shall use its best efforts to cause Institution to conduct
such Services in accordance with the terms and conditions of this Agreement, including all Project Agreements. For the avoidance
of doubt, FAST shall be responsible to Company for any breach of or failure to comply with this Agreement by Institution.

 

2.2.
This Agreement does not prevent FAST or Institution from providing similar services for, or engaging in research in a similar
field with, entities other than the Company.

 

2.3.
Company agrees to provide FAST the materials identified in the Project Agreement (“Materials”) for use in connection
with the Services in accordance with the Material Transfer Terms attached hereto as Attachment A, the terms of which are incorporated
herein by reference. FAST agrees that it will, and will direct Institution to, comply with the Material Transfer Terms attached
hereto as Attachment A.

 

2.4.
Upon completion of the study described in the Project Agreement attached hereto as Attachment B (the “Initial Study”),
the Parties shall promptly meet to review the Data resulting from the Initial Study. In the event that such Data indicates that
the Compound could be therapeutically beneficial to individuals with Angelman Syndrome, FAST and Company promptly shall commence
good faith negotiations to enter into a collaboration on reasonable terms pursuant to which FAST would provide operational and
financial support for further clinical development of the Compound in exchange for mutually agreeable consideration.

 

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ARTICLE
3.

 

COSTS
& PAYMENT

 

3.1.
Company acknowledges that FAST’s operations partially rely on Services recipients paying to FAST the consideration owed
for any Services provided. Accordingly, Company’s failure to comply with the cost and payment obligations, constitutes a
material breach of this Agreement entitling FAST to seek all available remedies.

 

3.2.
Conditioned on FAST’s completion of the study described in Attachment B, Company agrees to pay FAST five percent (5%) of
all Proceeds (defined below) received by Company, up to a cap of two hundred fifty thousand dollars ($250,000). “Proceeds”
means gross revenues received by Company from: (a) commercial sales of a Product (defined below) and (b) any monetary payments
received by Company attributable to the grant of rights to a third party to sell a Product (excluding (i) equity or debt investments
in Company or its affiliates by a third party, or equity or debt investments in Company or its affiliates received as consideration
other than for such grant of license, (ii) payments by a third party for payment or reimbursement of patent prosecution, defense,
enforcement and maintenance and other related expenses, (iii) payments by a third party for bona fide research, development, or
manufacturing activities (including payments for FTEs) relating to the Product undertaken by or on behalf of the Company after
the effective date of the license, (iv) payment for goods supplied to a third party at fair market value). “Product”
means a regulatory-approved therapeutic for Angelman’s Syndrome comprising the Compound, the regulatory approval of which
was based in whole or part on Data arising from the study described in Attachment B. For the avoidance of doubt, Company has no
payment obligations to Institution hereunder, and no responsibility for any obligations of FAST to Institution under the Institution
Agreement.

 

ARTICLE
4.

 

DATA;
RECORDS AND REPORTS

 

4.1.
Subject to 5.2, Company shall own the Data and any research reports communicating the Data furnished by FAST or Institution to
Company during the performance of the Services. Company grants FAST and Institution a right to use Data solely for educational
and research purposes.

 

4.2.
FAST shall cause Institution to maintain records of the Data and the progress of the Services and shall provide Company with reports
of the Data and progress of the Services in accordance with the Project Agreement.

 

4.3.
Should Company stop efforts related to development of the Materials for use in the treatment of Angelman Syndrome, Company shall
give FAST written notice within thirty (30 days) following the date of such cessation.

 

4.4.
FAST in its sole discretion may request one audit of Company’s relevant books and records to verify Company’s compliance
with its obligations respecting the payments under Section 3.2. Such shall be conducted by a mutually-acceptable independent auditor,
during Company’s regular business hours, at FAST’s sole cost. The auditor shall enter into an appropriate confidentiality
agreement with Lixte. Company will make such books and records available to the independent auditor for inspection within ten
(10) days of when FAST notifies Company of its exercise of the audit right in this Section 4.4. Company agrees that if the audit
uncovers a shortfall in the amounts paid to FAST of greater than 5% between what Company paid to FAST and what Company owes FAST
for the exploitation of Data, then Company must pay FAST within thirty (30) days of when the audit is completed (a) all amounts
necessary to cover the shortfall; and (b) all costs that FAST incurs in conducting the audit.

 

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ARTICLE
5.

 

INTELLECTUAL
PROPERTY

 

5.1.
Each Party shall retain all right, title, and interest in and to that Party’s Background Intellectual Property utilized
in the performance of the Services.

 

5.2.
No Inventions are anticipated to be conceived and no Patents to be filed in connection with the performance of the Services. FAST
and Institution will not file any application for a Patents covering any Invention developed in connection with the performance
of the Services. FAST agrees that any patentable Invention that incorporates, derives from or otherwise uses the Compound (a “Patentable
Compound Invention”) will be owned exclusively by Company, and Company will have the sole right to file a patent application
for any Patentable Compound Invention. In the event that a Patentable Compound Invention is developed, FAST will (and will cause
Institution to) assign all rights in such Patentable Compound Invention to Company, without the payment of additional consideration
by Company. In the event Institution does not agree to assign such rights, upon the request of Company, FAST will enforce its
rights under the Institution Agreement or assign such enforcement rights to Company.

 

5.3.
FAST represents and warrants that Institution has agreed to provide to FAST all Data promptly after such Data is developed, and
FAST will provide to Company all Data promptly after receipt from Institution. FAST represents and warrants that Institution has
agreed in the Institution Agreement that, as between Institution and FAST, FAST will own any such Data, and Institution has agreed
to assign to FAST all right, title and interest to all Data, and FAST hereby irrevocably assigns to Company any and all such right,
title and interest in such Data (including the right under the Institution Agreement to require Institution to execute and document
the foregoing assignment), without the requirement of Company to pay any additional consideration.

 

5.4.
FAST and Institution will execute such documents, and provide other support and cooperation, as is reasonably requested by Company
to effect, document, perfect, record and enforce the assignments described in Section 5.2 and 5.3.

 

ARTICLE
6.

 

CONFIDENTIALITY&
PUBLICATION

 

6.1.
In the course of performing work under this Agreement, it may be necessary for a party to disclose to the other certain confidential/proprietary
information or data (“Confidential Information”). FAST may provide Confidential Information of Company to Institution
in connection with the performance of the Services, provided that Institution has agreed in writing to be bound by obligations
of confidentiality no less protective of Company Confidential Information than those imposed by this Agreement. Each party agrees
to hold the other’s Confidential Information in confidence during the term of this Agreement and for five (5) years after
expiration or termination thereof. The obligation of confidentiality also applies to disclosures of Data to Company by FAST or
Institution. It is agreed that “Confidential Information” includes and the confidentiality obligations and use limitations
also apply to any data relating to the Compound that Company discloses to either FAST or Institution. The parties shall take reasonable
precautions to avoid disclosure, publication, or dissemination of the providing party’s Confidential Information and to
use the providing party’s Confidential Information only in connection with the project. No obligation of confidentiality
by a receiving party applies to any information which such receiving party can show: (i) was already in the receiving party’s
possession prior to its receipt from the disclosing party; (ii) becomes publicly known or available through no breach of this
Agreement by the receiving party; (ii) is acquired by the receiving party from a third party without notice or restrictions of
confidentiality; (iv) is independently developed by the receiving party’s personnel to whom the providing party’s
Confidential Information had not been disclosed, without any use of or reference to any Confidential Information; or (v) is required
to be disclosed by law or governmental regulation, but only to the extent that the disclosure required under applicable law, in
which case both parties will work together in order to comply with the request.

 

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6.2.
Publication.

 

(a)
FAST and/or Institution shall have the first right to publish, present or otherwise disclose Data for any purpose, subject to
the terms of this Section 6.2(i). For purposes of this Section, “Publication” shall mean any paper, report, poster,
internet posting, presentation, abstract, or other public disclosure of information arising out of the Services, in printed, electronic,
oral, or other form. FAST agrees, and has required Institution, to furnish all Publications to Company in advance of disclosure
as follows: at least thirty-five (35) days prior to submitting a Publication that is a manuscript, or fifteen (15) days prior
to submitting a Publication that is an abstract or presentation. FAST shall require Institution to forward each proposed Publication
simultaneously to both FAST and Company. Company shall have thirty (30) days from receipt to review and comment on such proposed
Publication, and FAST and Institution may not publish or disclose such Publication until the expiration of such thirty (30) day
period. Upon Company’s timely request, FAST will require the Principal Investigator to correct any errors and to give due
consideration to making any other reasonably requested changes to the Publication. Notwithstanding the foregoing, if within such
thirty (30) day period: (i) the Company notifies FAST that the Company requires deletion from the publication or presentation
of Confidential Information of the Company, FAST will work with Institution and Company to cooperate to modify the disclosure
to ensure Confidential Information of the Company is not disclosed. If the Company requests that the publication or presentation
be delayed to allow for patent filings or other intellectual property protection on certain items in the proposed publication
or presentation be filed, FAST shall instruct Institution to delay the publication or presentation for up to sixty (60) days from
the issuance of the notice to Lixte to allow for the filing of patent applications or other intellectual property protection.

 

(b)
In order to preserve FAST’s and Institution’s publication rights and Company’s patent rights, both Parties shall
maintain Intellectual Property, Data, and research reports communicating the Data as confidential and shall not disclose such
information to any third party until the publication of such information by the Investigator in accordance with Section 6.2(i).

 

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ARTICLE
7.

 

TERM
& TERMINATION

 

7.1.
Term. The initial term of this Agreement shall begin on the Effective Date of this Agreement and shall end on the later
of the three (3) year anniversary of the Effective Date or the last date on which all Project Agreements expire or terminate,
unless terminated sooner pursuant to Sections 7.2 hereof. This Agreement may be extended or renewed only by mutual written agreement
executed by duly authorized representatives of the Parties.

 

7.2.
Termination. Either Party may terminate this Agreement effective upon written notice to the other Party, if the other Party
breaches any of the terms or conditions of this Agreement and fails to cure such breach within thirty (30) days after receiving
written notice thereof. In the event of an incurable breach, the non-breaching Party may terminate this Agreement effective immediately
upon written notice to the breaching Party.

 

7.3.
Effects of Termination. Termination of this Agreement shall not affect the rights and obligations of the Parties accrued
prior to termination hereof. The provisions of ARTICLE 3; ARTICLE 5; ARTICLE 6; ARTICLE 8 and ARTICLE 9 and SECTION 2.4, ARTICLE
4 and SECTION 7.3, shall survive such termination.

 

ARTICLE
8.

 

DISCLAIMER
OF WARRANTIES, INDEMNIFICATION

 

8.1.
FAST AND COMPANY MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING WARRANTIES WITH RESPECT TO THE
CONDUCT, COMPLETION, SUCCESS OR PARTICULAR RESULTS OF THE SERVICES, OR THE CONDITION, OWNERSHIP, MERCHANTABILITY, OR FITNESS FOR
A PARTICULAR PURPOSE OF THE MATERIAL OR SERVICES OR ANY INTELLECTUAL PROPERTY OR DATA, OR THAT USE OF INTELLECTUAL PROPERTY OR
DATA WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR OTHER INTELLECTUAL PROPERTY RIGHT OF A THIRD PARTY. NEITHER PARTY SHALL
BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE OR OTHER DAMAGES SUFFERED BY THE OTHER PARTY OR ANY OTHER PERSON RESULTING
FROM THE SERVICES OR THE USE OF ANY INTELLECTUAL PROPERTY, MATERIALS, DATA OR ANY PRODUCTS RESULTING THEREFROM.

 

8.2.
Indemnification.

 

(a)
Company shall indemnify, defend, and hold harmless FAST and Institution, and their respective trustees, officers, faculty, students,
employees, contractors and agents (the “FAST Indemnitees”) from and against any and all liability, damage, loss, cost
or expense (including reasonable attorneys’ fees), which the FAST Indemnitees may hereafter incur, or be required to pay,
incurred in connection with a claim filed by a third party that is based on (a) the Company’s use of the Data, (b) the Company’s
development and commercialization of a Product, it being understood that if the Company and FAST enter into a broader collaboration
pursuant to Section 2.4, this provision may be subject to revision, and (c) any breach by Company of this Agreement; provided
that Company’s obligations pursuant to this Section 8.2(a) shall not apply to the extent such claims or suits result
from any acts or omissions or breach of this Agreement by any of the FAST Indemnitees, or their fraud, gross negligence or willful
misconduct.

 

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(b)
FAST shall indemnify, defend, and hold harmless Company, and its officers, directors, employees, contractors and agents (the “Company
Indemnitees”) from and against any and all liability, damage, loss, cost or expense (including reasonable attorneys’
fees), which the Company Indemnitees may hereafter incur, or be required to pay, incurred in connection with a claim filed by
a third party that is based on any breach by FAST of this Agreement, provided that FAST’s obligations pursuant to this Section
8.2(b) shall not apply to the extent such claims or suits result from any acts or omissions or breach of this Agreement by any
of the Company Indemnitees, or their fraud, gross negligence or willful misconduct.

 

(c)
As a condition to the right of a FAST Indemnitee or Company Indemnitee (each an “Indemnitee”) to receive
indemnification under this Section 8.2, the Indemnitee shall: (a) promptly notify the indemnifying Party when it
becomes aware of a claim or suit for which indemnification may be sought pursuant hereto; (b) cooperate with the indemnifying
Party in the defense, settlement or compromise of such claim or suit; and (c) permit the indemnifying Party to control the
defense, settlement or compromise of such claim or suit, including the right to select defense counsel. An indemnifying Party
shall have no liability under this indemnity for any settlement entered into by an Indemnitee without the prior consent of
the Indemnifying Party. In no event, however, may the indemnifying Party compromise or settle any claim or suit in a manner
which (a) admits fault or negligence on the part of the other Party or the Indemnitee; or (b) commits the other Party or the
Indemnitee to take, or forbear to take, any action, without the prior written consent of the other Party, such consent not to
be unreasonably withheld, delayed or conditioned. The other Party shall reasonably cooperate with the indemnifying Party and
its counsel in the course of the defense of any such suit, claim or demand.

 

ARTICLE
9.

 

ADDITIONAL
PROVISIONS

 

9.1. Force
Majeure. Neither Party shall be liable for any failure to perform as required by this Agreement to the extent such
failure to perform is due to circumstances reasonably beyond such Party’s control, including labor disturbances or
labor disputes of any kind, accidents, failure of any governmental approval required for full performance, civil disorders or
commotions, terrorism, acts of aggression, acts of God, energy or other conservation measures imposed by law or regulation,
explosions, failure of utilities, mechanical breakdowns, material shortages, disease, or other such occurrences, provided
that: (i) the non-complying party uses commercially reasonable efforts to cure or mitigate the effect of such Force Majeure
Event and to perform such obligation(s); (ii) the non-complying party promptly (but in any event within ten (10) days of the
occurrence of such event) provides written notice to the other party of the occurrence of such Force Majeure Event, its
effect on performance, and how long that party expects it to last, and thereafter provides notice(s) updating such
information as reasonably necessary. If the force majeure continues, or is forecasted to continue for more than ninety (90)
days, the other Party may terminate this Agreement.

 

9.2.
Relationship of the Parties. Nothing in this Agreement is intended or shall be deemed, for financial, tax, legal or other
purposes, to constitute a partnership, agency, joint venture or employer-employee relationship between the Parties. The Parties
are independent contractors and at no time will either Party make commitments or incur any charges or expenses for or on behalf
of the other Party.

 

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9.3.
Expenses. Except as otherwise provided in this Agreement, each Party shall pay its own expenses and costs incidental to
the preparation of this Agreement and to the consummation of the transactions contemplated hereby.

 

9.4.
Third Party Beneficiary. Except as expressly set forth herein, no party, other than FAST or Company shall be entitled to
any rights whatsoever by virtue of the relationships created by or arising under this Agreement, including, without limitation,
rights as a third party beneficiary.

 

9.5.
Use of Names. Company and its affiliates may not use the name, logo, seal, trademark, or service mark (including any adaptation
of them) of FAST without the prior written consent of FAST. Notwithstanding the foregoing, Company may use the name of FAST in
a non-misleading and factual manner solely to state FAST’s provision of the Services. FAST shall not use Company’s
name without Company’s prior written consent except that FAST may acknowledge scientific contributions to the Data in scientific
publications, and for other academic purposes.

 

9.6.
No Discrimination. Neither FAST nor Company will discriminate against any employee or applicant for employment because
of race, color, sex, sexual or affectional preference, age, religion, national or ethnic origin, handicap, or veteran status.

 

9.7.
Successors and Assignment.

 

(a)
The terms and provisions hereof shall inure to the benefit of, and be binding upon, the Parties and their respective successors
and permitted assigns.

 

(b)
Neither Party may assign or transfer this Agreement or any of its rights or obligations created hereunder, by operation of law
or otherwise, without the prior written consent of the other Party, except that Company may assign this Agreement in connection
with the sale of all or substantially all of Company’s business that is the subject of this Agreement, whether by sale of
equity, assets, merger (whether or not Company is the surviving entity of such merger) or reorganization.

 

(c)
Any assignment not in accordance with this Section 9.14 shall be void.

 

9.8.
Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments and to do all such other
acts as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement.

 

9.9.
Entire Agreement of the Parties; Amendments. This Agreement and the Schedules and Attachments hereto constitute and contain
the entire understanding and agreement of the Parties respecting the subject matter hereof and cancel and supersede any and all
prior negotiations, correspondence, understandings and agreements between the Parties, whether oral or written, regarding such
subject matter. No waiver, modification or amendment of any provision of this Agreement shall be valid or effective unless made
in a writing referencing this Agreement and signed by a duly authorized officer of each Party.

 

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9.10.
Governing Law. This Agreement, each Project Agreement, and any amendments hereto, shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to conflicts of laws principles. Each Party hereto agrees to
submit to the personal jurisdiction and venue of the State or Federal Courts located in the State of Delaware for resolution of
all disputes arising out of, in connection with, or by reason of the interpretation, construction, and enforcement of this Agreement,
each Project Agreement, and any Amendments hereto, and hereby waives the claim or defense therein that such Courts constitute
an inconvenient forum.

 

9.11. Dispute
Resolution. If a dispute arises between the Parties concerning this Agreement, then either Party may submit a notice
identifying the basis for the dispute, and the Parties will confer, as soon as practicable, in an attempt to resolve the
dispute. If within thirty (30) days of such notice the Parties are unable to resolve such dispute amicably, then either Party
may commence an action, and the Parties will submit to the exclusive jurisdiction of, and venue in, the state and Federal
courts located in Delaware.

 

9.12. Notices
and Deliveries. Any notice, request, approval or consent required or permitted to be given under this Agreement shall be
in writing and directed to a Party at its address shown below or such other address as such Party shall have last given by
notice to the other Party. A notice will be deemed received: if delivered personally, on the date of delivery; if mailed,
five (5) days after deposit in the United States mail; or if sent via overnight courier, one (1) business day after deposit
with the courier service.

 

	For
    FAST	 	with
    a copy to:
	Foundation
    for Angelman Syndrome Therapeutics	 	Saul,
    Ewing, Arnstein & Lehr
	P.O.
    Box 608	 	1919
    Pennsylvania Ave., Suite 550
	Downers
    Grove, IL 60515	 	Washington,
    DC 20006
	Attn:
    Paula Evans	 	Attn:
    Jay G. Reilly
	 	 	 
	For
    Company:	 	with
    a copy to:
	Lixte
    Biotechnology Holdings, Inc.	 	Dechert
    LLP
	248
    Route 25A No. 2	 	1095
    Avenue of the Americas
	East
    Setauket NY 11733	 	New
    York, NY 10036
	Attn:
    John S. Kovach, M.D.	 	Attn:
    Joshua Rawson, Esq.

 

9.13.
Waiver. A waiver by either Party of any of the terms and conditions of this Agreement must be in writing, and in any instance
shall not be deemed or construed to be a waiver of such term or condition for the future, or of any other term or condition hereof.
All rights, remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them
shall be in limitation of any other remedy, right, undertaking, obligation or agreement of either Party.

 

9.14.
Severability. When possible, each provision of this Agreement will be interpreted in such manner as to be effective and
valid under law, but if any provision of this Agreement is held to be prohibited by or invalid under law, such provision will
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. The
Parties shall make a good faith effort to replace the invalid or unenforceable provision with a valid one which in its economic
effect is most consistent with the invalid or unenforceable provision.

 

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9.15.
Interpretation. The words “include,” “includes” and “including” shall be deemed to
be followed by the phrase “without limitation.” All references herein to Articles, Sections, and Schedules shall be
deemed references to Articles and Sections of, and Schedules to, this Agreement unless the context shall otherwise require.

 

9.16.
Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, and all of which
together will be deemed to be one and the same instrument. A facsimile or a portable document format (PDF) or electronic copy
of this Agreement, including the signature pages, will be deemed an original.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	Page 10

    	 

    

 

IN
WITNESS WHEREOF, the duly authorized representatives of the Parties hereby execute this Master Services Agreement as of the date
first written above.

 

	FOUNDATION
    FOR ANGELMAN SYNDROME THERAPEUTICS	 	LIXTE
    BIOTECHNOLOGY HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/
    Paula Evans	 	By:	                  
	Name:	Paula
    Evans	 	Name:	 
	Title:	Chairperson	 	Title:	 
	Date:	08/13/2020	 	Date:	 

 

[Signature
Page to Fee for Service Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, the duly authorized representatives of the Parties hereby execute this Master Services Agreement as of the
date first written above.

 

	FOUNDATION
    FOR ANGELMAN SYNDROME THERAPEUTICS	 	LIXTE
    BIOTECHNOLOGY HOLDINGS, INC.
	 	 	 	 	 
	By:	             	 	By:	/s/
    John S Kovach 
	Name:	 	 	Name:	John
    S Kovach
	Title:	 	 	Title:	President
    & CEO
	Date:	 	 	Date:	13
    August 2020

 

[Signature
Page to Fee for Service Agreement]

 

     

     

    

 

Attachment
A Material Transfer Terms

 

	1.	Definitions

 

	 	a.	“Materials”
    as used herein shall mean: (a) those materials described in the Project Agreement provided by Company at Company’s sole
    discretion; (b) any related biological or chemical material and associated know-how and data provided by Company; and (c)
    any Modifications, Progeny and Unmodified Derivatives. Material shall not include other substances created by RECIPIENT through
    the use of the Materials which are not Modifications, Progeny, or Unmodified Derivatives.
	 	 	 
	 	b.	“Modifications”
    as used herein shall mean substances created by RECIPIENT which contain/incorporate the Material.
	 	 	 
	 	c.	“Progeny”
    as used herein shall mean unmodified descendant from the Material, such as virus from virus, cell from cell, or organism from
    organism.
	 	 	 
	 	d.	“Unmodified
    Derivatives” as used herein shall mean substances created by RECIPIENT which constitute an unmodified functional subunit
    or product expressed by the Material. Some examples of Unmodified Derivatives may include: subclones of unmodified cell lines,
    purified or fractionated subsets of the Material, proteins expressed by DNA/RNA, or monoclonal antibodies secreted by a hybridoma
    cell line.

 

	2.	The
    Materials are considered proprietary to and the Confidential Information of Company. Company shall be free, in its sole discretion,
    to distribute the Materials to others and to use the Materials for its own purposes. The Materials may only be utilized by
    FAST or Institution to facilitate the Services.
	 	 
	3.	Except
    as expressly set forth in this Agreement, nothing herein shall be deemed to grant any right under any of Company’s patents,
    and the Materials will not be used in research that is subject to consulting or licensing obligations to any third party,
    other than obligations to the U.S. government resulting from research that is funded by the U.S. government.
	 	 
	4.	FAST
    agrees to use the Materials in compliance with all laws and regulations, including but not limited to current EPA, FDA, USDA,
    and NIH guidelines. The Materials are supplied solely for research purposes, for use in animals and/or in vitro. THE MATERIALS
    WILL NOT BE USED IN HUMANS. Any and all Materials that remain after the completion of the Initial Study will be, at Company’s
    election, returned to Company or destroyed.
	 	 
	5.	Data
    and Intellectual Property generated in the performance of the Services shall be governed in accordance with the terms and
    conditions of the Agreement.
	 	 
	6.	FAST
    agrees to maintain the confidentiality of any proprietary information respecting the Materials if such information is Confidential
    Information as defined and governed by the Agreement.

 

FAST
acknowledges that the Materials are experimental in nature and they are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. COMPANY MAKES NO REPRESENTATION OR WARRANTY THAT THE USE OF
THE MATERIALS WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHTS.EXHIBIT
10.02

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (“Agreement”)
is entered into as of August 12, 2020 by and between Lixte Biotechnology Holdings Inc.,
a Delaware corporation having its principal place of business located at 248 Route 25A, No. 2, East Setauket, NY 11733 (“Company”),
and Robert N. Weingarten (“Employee”), an individual
residing at 5439 Lockhurst Dr., Woodland Hills, CA 91367.

 

WHEREAS,
Employer desires to employ Employee and Employee desires to enter into such employment upon the terms and conditions hereinafter
set forth;

 

Agreement

 

In
consideration of the mutual promises contained herein, the parties agree as follows:

 

1.       Services
and Compensation. Employee agrees to perform for the Company
the services described in Exhibit A (the “Services”), and the Company agrees to pay Employee
the compensation described in Exhibit A for Employee’s performance of the Services. If not specified on Exhibit
A, the scope, timing, duration, and site of performance of said Services shall be mutually and reasonably agreed to by the
Company and Employee and are subject to change upon the written agreement of both parties. Employee will make reasonable, good
faith efforts to provide the Services in a timely and professional manner consistent with industry practices. Employee shall report
to the Company’s Chief Executive Officer. Employee shall devote his full time and efforts to his position as a senior corporate
officer. Except as set forth on Exhibit A, the Company shall have no obligation to provide any compensation to Employee
with respect to any Services rendered by Employee to the Company pursuant to this Agreement.

 

2.       Confidentiality.

 

2.1       Definitions.
“Confidential Information” means all data, studies, reports, information, technology, samples and specimens
relating to the Company or its plans, products, product concepts, formulas, technologies, business, financial, marketing, research,
non-clinical, clinical or regulatory affairs, manufacturing processes and procedures, or those of any other third party, from
whom the Company receives information on a confidential basis, whether written, graphic or oral, furnished to Employee by or on
behalf of the Company, either directly or indirectly, or obtained or observed by Employee while providing services hereunder,
and the Services to be provided by Employee hereunder. Confidential Information does not include (i) information that is now in
the public domain or subsequently enters the public domain and is generally available without fault on the part of Employee; (ii)
information that is presently known by Employee from Employee’s own sources as evidenced by Employee’s prior written
records; or (iii) information disclosed to Employee by a third party legally and contractually entitled to make such disclosures.

 

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2.2       Nonuse
and Nondisclosure. Employee will not, during or subsequent to the Term (as defined below), (i) use the Confidential Information
for any purpose whatsoever other than the performance of the Services on behalf of the Company or (ii) disclose the Confidential
Information to any third party. Employee agrees that, as between the Company and Employee, all Confidential Information will remain
the sole property of the Company. Employee also agrees to take all necessary and reasonable precautions to prevent any unauthorized
disclosure of such Confidential Information. Without the Company’s prior written approval, Employee may disclose the existence,
but not the terms, of this Agreement to third parties. Anything to the contrary notwithstanding, Employee may also disclose Confidential
Information to the extent such disclosure is required by a court of competent jurisdiction and provided that Employee promptly
notifies the Company of such requirement. Employee acknowledges that the use or disclosure of Confidential Information without
the Company’s express written permission will cause the Company irreparable harm and that any material breach or threatened
material breach of this Agreement by Employee will entitle the Company to seek injunctive relief and reasonable attorneys’
fees, in addition to any other legal remedies available to it, in any court of competent jurisdiction.

 

2.3       Third
Party Confidential Information. Employee recognizes that the Company has received and in the future may receive from third
parties, their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality
of such information and to use it only for certain limited purposes. Employee agrees that, during the Term of this Agreement and
thereafter, Employee will hold, and that Employee owes the Company and such third parties a duty to hold, all such confidential
or proprietary information in the strictest confidence and not to disclose it to any person, firm or entity or to use it except
as necessary in carrying out the Services for the Company consistent with the Company’s agreement with such third party,
unless otherwise authorized by such third party.

 

2.4       Return
of Materials. At any time upon the Company’s request, Employee will deliver to the Company all of the Company’s
property, equipment and documents, together with all copies thereof, that were previously provided to Employee or created by Employee
for the Company pursuant to the Services, including but not limited to all electronically stored confidential and/or nonpublic
information, passwords to access such property, or Confidential Information that Employee may have in Employee’s possession
or control, and Employee agrees to certify in writing that Employee has fully complied with this obligation.

 

2.5       No
Improper Disclosure or Use of Materials. Employee will not improperly use or disclose to, or for the benefit of, the Company
any confidential information or trade secrets of (i) any former, current or future employer, (ii) any person to whom Employee
has previously provided, currently provides or may in the future provide services, or (iii) any other person to whom Employee
owes an obligation of confidentiality. Employee will not bring onto the premises of the Company any unpublished documents or any
property belonging to any person referred to in the foregoing clauses (i)-(iii) of this Section 2.5 unless consented to in writing
by such person. Without limiting the generality of the foregoing, Employee will not disclose to the Company, and will not use
for the benefit of the Company, any information relating to or arising out of Employee’s work conducted at his present employer,
or utilizing the funds, personnel, facilities, materials or other resources of his present employer, until such information has
been published.

 

2.6       Non-Exclusivity
of Confidentiality Obligations. The obligations of Employee under this Section 2 are without prejudice, and are in addition
to, any other obligations or duties of confidentiality, whether express or implied or imposed by applicable law, that are owed
to the Company or any other person to whom the Company owes an obligation of confidentiality.

 

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3.       Ownership.

 

3.1       Assignment.
Employee agrees that all copyrights and copyrightable material, notes, records, drawings, designs, inventions, ideas, discoveries,
enhancements, modifications, know-how, improvements, developments, discoveries, trade secrets, data and information of every kind
and description conceived, generated, made, discovered, developed or reduced to practice by Employee, solely or in collaboration
with others, during the Term and in the course of performing Services under this Agreement (collectively, “Inventions”),
are, as between the Company and Employee, the sole and exclusive property of the Company. Employee agrees to disclose such Inventions
promptly to the Company and hereby assigns, and agrees to assign, all of Employee’s right, title and interest in and to
any such Inventions promptly to the Company without royalty or any other consideration and to execute all applications, assignments
or other instruments reasonably requested by the Company in order for the Company to establish the Company’s ownership of
such Inventions and to obtain whatever protection for such Inventions, including copyright and patent rights in any and all countries
on such Inventions as the Company shall determine.

 

3.2       Further
Assurances. Employee agrees to assist the Company, or its designee, in every reasonable way to secure the Company’s
rights in Inventions and any copyrights, patents or other intellectual property rights relating to all Inventions (“Proprietary
Rights”) in any and all countries, including the disclosure to the Company of all pertinent information and data
with respect to all Inventions, the execution of all applications, specifications, oaths, assignments and all other instruments
that the Company may deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company,
its successors, assigns and nominees the sole and exclusive right, title and interest in and to all Inventions, and any copyrights,
patents, or other intellectual property rights relating to all Inventions. Employee also agrees that Employee’s obligation
to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement.

 

3.3       Pre-Existing
Materials. Subject to Section 3.1, Employee agrees that if, in the course of performing the Services, Employee incorporates
into any Invention developed under this Agreement any pre-existing invention, improvement, development, concept, discovery or
other proprietary information owned by Employee or in which Employee has an interest, (i) Employee will inform the Company, in
writing before incorporating such invention, improvement, development, concept, discovery or other proprietary information into
any Invention, and (ii) the Company is hereby granted a nonexclusive, royalty-free, perpetual, irrevocable, worldwide license
to make, have made, modify, use and sell such item as part of or in connection with such Invention. Employee will not incorporate
any invention, improvement, development, concept, discovery or other proprietary information owned by any third party into any
Invention without the Company’s prior written permission.

 

3.4       Attorney-in-Fact.
Employee agrees that, if the Company is unable because of Employee’s unavailability, dissolution, mental or physical
incapacity, or for any other reason, to secure Employee’s signature for the purpose of applying for or pursuing any application
for any United States or foreign patents, mask work or copyright registrations covering the Inventions assigned to the Company
in Section 3.1, then Employee hereby irrevocably designates and appoints the Company and its duly authorized officers and agents
as Employee’s agent and attorney-in-fact, to act for and on Employee’s behalf to execute and file any such applications
and to do all other lawfully permitted acts only to further the prosecution and issuance of patents, copyright and mask work registrations
with the same legal force and effect as if executed by Employee.

 

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3.5       Waiver;
Non-Exclusivity of Obligations. Employee hereby waives and quitclaims to the Company any and all claims of any nature whatsoever
that Employee may now or hereafter have for infringement of any Inventions and Proprietary Rights assigned hereunder to the Company.
Without the prior written consent of the Company, Employee will not, at any time, file any patent or copyright application with
respect to, or claiming, any Inventions. The obligations of Employee under this Section 5 are without prejudice, and are in addition
to, any other obligations or duties of Employee, whether express or implied or imposed by applicable law, to assign to the Company
all Inventions and all Proprietary Rights.

 

4.       Representations
and Warranties. Employee represents and warrants to the Company
that: Employee is legally able to enter into this Agreement and that Employee’s execution, delivery and performance of this
Agreement will not and does not conflict with any agreement, arrangement or understanding, written or oral, to which Employee
is a party or by which Employee is bound; Employee is under no physical or mental disability that would hinder his performance
of the professional duties to be rendered by Employee under this Agreement; Employee is not a party to any civil, criminal or
administrative suits or proceedings, or aware of any threatened actions of such a nature; Employee has never been convicted of
a crime, is not now under indictment, and is unaware of any such threatened actions; and Employee has never been subjected to
disciplinary proceedings or investigation by any State agency or other governmental agency.

 

5.       Term
and Termination.

 

5.1       Term.
The term of this Agreement (the “Term”) shall commence on August 12, 2020 (the “Effective
Date”), and shall remain in full force and effect until the earlier of (i) one year from the Effective Date, automatically
renewable for additional one year periods unless terminated by either party upon sixty (60) days written notice prior to the end
of an applicable one year period, (ii) Employee’s death or (iii) termination as provided in Section 5.2.

 

5.2       Termination.
The Company may terminate this Agreement immediately and without prior notice if Employee refuses to or is unable to perform
the Services or is in breach of any material provision of this Agreement and fails to cure such breach (if such breach is curable)
within thirty days of notice of such breach by the Company.

 

5.3       Survival.
Upon termination of this Agreement, all rights and duties of the Company and Employee toward each other shall cease except:

 

(a)       The
Company will pay, within 30 days after the effective date of termination, all amounts owing to Employee for Services completed
and accepted by the Company prior to the termination date and related expenses, if any, submitted in accordance with the Company’s
policies and in accordance with the provisions of Section 1 of this Agreement; and

 

    	4 of 8 

    	 

    

 

6.       Benefits;
Taxes. 

 

6.1       Benefits.
The Company and Employee agree that Employee will receive no Company-sponsored benefits from the Company, except those mandated
by state or federal law.

 

6.2       Taxes
and Withholdings. Employee’s compensation shall be payable in accordance with the general practice of the Employer for
professional employees and shall be subject to all applicable withholding taxes.

 

7.       Indemnification.
The Company shall defend, indemnify and hold Employee harmless
from and against any and all claims, demands, losses, damages, liabilities (including without limitation product liability), settlement
amounts, costs and expenses whatsoever (including without limitation reasonable attorneys’ fees and costs and including,
without limitation, product liability claims) arising from or relating to any claim, action or proceeding made or brought against
Employee or the Company as a result of, or associated with, the development, use, manufacture, marketing or sale of products regarding
which Employee has provided Services unless such liability arises from Employee’s or Employee’s assistants’,
employees’ or agents’ negligence, intentional misconduct or breach of this Agreement.

 

8.       Non-Compete;
Nonsolicitation; Non-Disclosure.

 

8.1       Non-Compete.
During the Term, Employee will not, without the Company’s prior written consent, become employed by or render services
to any other person or entity engaged in the business of developing or marketing drug programs focusing on inhibitors of protein
phosphatases (a “Competing Business”).

 

8.2       Nonsolicitation.
During the Term and for a period of six month thereafter (the “Restricted Period”), Employee will not, without
the Company’s prior written consent, directly or indirectly, whether for Employee’s own account or for the account
of any other person, firm, corporation or other business organization, solicit, entice, persuade, induce or otherwise attempt
to influence any person or business who is, or during the period of Employee’s engagement by the Company was, an employee,
Employee, contractor, partner, supplier, customer or client of the Company or its affiliates to leave or otherwise stop doing
business with the Company.

 

8.3       Non-Disclosure.
Employee agrees that without the prior written consent of the Company, Employee will not intentionally generate any publicity,
news release or other announcement concerning the engagement of Employee hereunder or the services to be performed by Employee
hereunder or otherwise utilize the name of the Company or any of its affiliates for any advertising or promotional purposes.

 

8.4       Reasonableness
of Restrictions. Employee hereby acknowledges and agrees that the foregoing restrictions contained in this Section 8 are reasonable,
proper and necessitated by the legitimate business interests of the Company and will not prevent Employee from earning a living
or pursuing his or her career. In the event that a court finds this Section 8, or any of its restrictions, to be unenforceable
or invalid, Employee and the Company hereby agree that (i) this Section 8 will be automatically modified to provide the Company
with the maximum protection of its business interests allowed by law and (ii) Employee shall be bound, and such court shall enforce,
this Section 8 as so modified.

 

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9.       Voluntary
Nature of Agreement. Employee acknowledges and agrees that Employee
is executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. Employee further
acknowledges and agrees that Employee has carefully read this Agreement and has asked any questions needed to understand the terms,
consequences and binding effect of this Agreement and fully understand it to his or her satisfaction. Finally, Employee agrees
that Employee has been provided an opportunity to seek the advice of an attorney of its choice before signing this Agreement.

 

10.       Remedies.
Employee acknowledges and agrees that the agreements and restrictions
contained in Sections 2, 3 and 8 are necessary for the protection of the business and goodwill of the Company and are reasonable
for such purpose. Employee acknowledges and agrees that any breach of the provisions of Sections 2, 3 and 8 may cause the Company
substantial and irreparable damage for which the Company cannot be adequately compensated by monetary damages alone, and, therefore,
in the event of any such breach, in addition to such other remedies which may be available, the Company shall have the right to
seek specific performance and injunctive relief without the necessity of proving actual damages. However, if the Company claims
that Employee breached any of Sections 2, 3 and 8, nothing herein shall relieve the Company of the burden of proving that Employee
failed to abide by Section 2, 3 or 8.

 

11.       Miscellaneous.

 

11.1       Governing
Law. This Agreement shall be governed by the laws of Delaware without regard to conflicts of law rules.

 

11.2       Assignability.
Except as otherwise provided in this Agreement, Employee may not sell, assign or delegate any rights or obligations under
this Agreement.

 

11.3       Entire
Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this
Agreement and supersedes all prior written and oral agreements between the parties regarding the subject matter of this Agreement.

 

11.4       Headings.
Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement.

 

11.5       Notices.
Any notice or other communication required or permitted by this Agreement to be given to a party shall be in writing and shall
be deemed given if delivered personally or by commercial messenger or courier service, or mailed by U.S. registered or certified
mail (return receipt requested). If by mail, delivery shall be deemed effective 3 business days after mailing in accordance with
this Section 11.5.

 

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If
to the Company, to:

 

Lixte
Biotechnology Holdings, Inc.

Attention:
John Kovach, MD

248
Route 25A, No. 2

East
Setauket, NY 11733

 

If
to Employee, to:

 

Robert
N. Weingarten

5439
Lockhurst Dr.

Woodland
Hills, CA 91367

 

The
address for notice on the signature page to this Agreement or, if no such address is provided, to the last address of Employee
provided by Employee to the Company.

 

11.6       Amendments;
Waiver. No modification of or amendment to this Agreement, or any waiver of any rights under this Agreement, will be effective
unless in writing and signed by Employee and the Company.

 

11.7       Attorneys’
Fees. In any court action at law or equity that is brought by one of the parties to this Agreement to enforce or interpret
the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees, in addition to any
other relief to which that party may be entitled.

 

11.8       Further
Assurances. Employee agrees, upon request, to execute and deliver any further documents or instruments necessary or desirable
to carry out the purposes or intent of this Agreement.

 

11.9       Severability.
If any provision of this Agreement is found to be illegal or unenforceable, the other provisions shall remain effective and
enforceable to the greatest extent permitted by law.

 

11.10       Counterparts
and Facsimiles. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same instrument. Facsimile signatures shall be deemed original signatures
for all purposes.

 

11.11       Acknowledgement.
EMPLOYEE UNDERSTANDS THAT THIS AGREEMENT AFFECTS HIS RIGHTS TO CERTAIN INVENTIONS, AND RESTRICTS HIS RIGHTS TO DISCLOSE OR USE
CONFIDENTIAL INFORMATION, AND TO COMPETE WITH THE COMPANY DURING, OR SUBSEQUENT TO, THE TERMINATION OF THIS AGREEMENT.

 

[Signature
Page Follows]

 

    	7 of 8 

    	 

    

 

In
Witness Whereof, the parties hereto have executed
this Employment Agreement as of the date first written above.

 

	EMPLOYEE	 	LIXTE
    BIOTECHNOLOGY HOLDINGS, INC.
	 	 	 	 	 
	 	 	 	By:	 
	Name:	ROBERT
    N. WEINGARTEN	 	Name:	JOHN
    KOVACH, MD
	Address:	5439
    Lockhurst Dr.	 	Title:	President
    & CEO
	 	Woodland
    Hills, CA 91367	 		

 

    	 

    	 

    

 

EXHIBIT
A

 

SERVICES
AND COMPENSATION

 

1.       Services.
Employee shall be the Vice President, Chief Financial Officer (CFO) of the Company. His responsibilities will include management
of the financial aspects of the Company, including finance, accounting, budgeting, financial reporting, forecasting and cash management.

 

2.       Compensation.

 

	 	A.	Employee
    shall receive options to purchase up to three hundred and fifty thousand (350,000) shares of the Company’s Common Stock
    (the “Options”). The Options shall have a term of five (5) years, and an exercise price equal to the closing price
    of the Company’s Common Stock on the Effective Date. The options shall vest as to twenty-five (25%) percent on the Effective
    Date and twenty-five (25%) percent on each of the 1st, 2nd, and 3rd anniversaries of the Effective Date.
    
	 	 	 
	 	B.	The
    Company will pay Employee one hundred twenty thousand dollars ($120,000) annually, paid monthly. All amounts payable to Employee
    hereunder shall be net of any applicable withholding taxes. 
	 	 	 
	 	C.	The
    Company will reimburse Employee for all reasonable expenses incurred by Employee in performing the Services pursuant to this
    Agreement, provided that Employee receives written consent from the Company’s CEO prior to incurring such expenses and
    submits receipts for such expenses to the Company in accordance with Company policy.

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