Document:

Exhibit
10.7

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

 

STATEMENT
OF WORK

 

26 January
2022

EOM Pharmaceuticals,
LLC

136 Summit
Ave, Suite 100

Montvale,

NJ 07645

(hereafter
referred to as “Sponsor”)

 

Charles
River Laboratories Montreal ULC

22022 Transcanadienne

Senneville,
Québec, H9X 3R3

Canada

(hereafter
referred to as “Charles River”)

 

 

 

    	 	 	 

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

As
there is no Master Service Agreement (“MSA’”) in place between Sponsor and Charles River, this Statement of Work (“SOW”)
and each party’s obligations herein (including the performance of Services) shall be governed by and subject to the General Terms
and Conditions of Charles River attached hereto (the “General Terms and Conditions”). In the event Sponsor and Charles River
sign an MSA before completion of the Study, the MSA will supersede the General Terms and Conditions. By executing below, Sponsor and
the undersigned on behalf of Sponsor represents and certifies, that Sponsor agrees to the foregoing.

 

Confidentiality
Notice: The information contained in this SOW is confidential and is intended only for the party to whom it is addressed. Any other delivery,
distribution, copying or disclosure is strictly prohibited.

 

Transfer,
storage, use and processing of personal data shall be made in accordance with the Data Protection Addendum attached hereto and made a
part hereof.

 

	Authorization
    Initials	 	Study
    ID and Title	 	 	Price	 
	 	 	CRL-396097	 	 	 	 
	 	 	Study
    No. 1003374	 	 	 	 
	 	 	Development
    of a LM-MS/MS Method for the Quantification of Test Material in Rabbit Plasma	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            27,650 US	 
	 	 	 	 	 	 	 
	 	 	CRL-396098	 	 	 	 
	 	 	Study
    No. 1003375	 	 	 	 
	 	 	Validation
    of an LC-MS/MS Method for the Quantification of Test Material in Rabbit Plasma	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            33,600 US	 
	 	 	 	 	 	 	 
	 	 	CRL-396992	 	 	 	 
	 	 	Study
    No. 1003385	 	 	 	 
	 	 	Validation
    of an LC-MS/MS Method for the Quantification of Test Material in Rabbit Plasma	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            33,600 US	 
	 	 	 	 	 	 	 
	 	 	CRL-395143	 	 	 	 
	 	 	Study
    No. 5702107	 	 	 	 
	 	 	A
    Pharmacokinetic Single and Multiple Topical Ocular Instillation Study of Squalamine Lactate Followed by a 24-Hour Observation/Collection
    Period in the Rabbit	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            46,064 US	 
	 	 	LCMS
    Sample Analysis (20 serum @SEN, 400 tissues @WOR):	 	 	$
                                            89,355 US	 
	 	 	TK
    Report:	 	 	$
                                            6,681 US	 
	 	 	Total
    Study Price:	 	 	$
                                            142,100 US	 

 

    	STATEMENT OF WORK CONFIDENTIAL	2 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	Authorization
    Initials	 	Study
    ID and Title	 	 	Price	 
	 	 	CRL-395144	 	 	 	 
	 	 	Study
    No. 5702108	 	 	 	 
	 	 	A
    7-Day Ocular Instillation Tolerance Pilot Study of Squalamine Lactate in the Rabbit	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            74,600 US	 
	 	 	Option
    - LCMS Sample Collection/Analysis (12 serum @CRL-SEN):	 	 	$
                                            17,296 US ☐	 
	 	 	 	 	 	 	 
	 	 	CRL-395145	 	 	 	 
	 	 	Study
    No. 5702109	 	 	 	 
	 	 	A
    7-Day Ocular Instillation Tolerance Pilot Study of Squalamine Lactate in the Dog	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            117,700 US	 
	 	 	Option
    - LCMS Sample Collection/Analysis (12 serum @CRL-SEN):	 	 	$
                                            17,296 US ☐	 
	 	 	 	 	 	 	 
	 	 	CRL-395146	 	 	 	 
	 	 	Study
    No. 5702110	 	 	 	 
	 	 	A
    28-Day Topical Administration Toxicity Study of Squalamine Lactate in the Rabbit Followed By A 14-Day Recovery	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            337,338 US	 
	 	 	LCMS
    Sample Analysis @CRL-SEN (312 serum, 32 ISR):	 	 	$
                                            42,835 US	 
	 	 	TK
    Report:	 	 	$
                                            8,727 US	 
	 	 	SEND
    Data Set (Final Report):	 	 	$
                                            16,600 US 
	 
	 	 	Total
    Study Price:	 	 	$
                                            405,500 US	 
	 	 	 	 	 	 	 
	 	 	CRL-395147	 	 	 	 
	 	 	Study
    No. 5702111	 	 	 	 
	 	 	A
    28-Day Topical Administration Toxicity Study of Squalamine Lactate in the Rabbit Followed By A 14-Day Recovery	 	 	 	 
	 	 	Study
    Price:	 	 	$
                                            341,820 US	 
	 	 	LCMS
    Sample Analysis @CRL-SEN (312 serum, 32 ISR):	 	 	$
                                            42,453 US	 
	 	 	TK
    Report:	 	 	$
                                            8,727 US	 
	 	 	SEND
    Data Set (Final Report):	 	 	$
                                            16,600 US	 
	 	 	Total
    Study Price:	 	 	$
                                            409,600 US	 

 

    	STATEMENT OF WORK CONFIDENTIAL	3 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

Please
check the options you wish to authorize, if applicable.

 

The
pricing above is based on the Scope(s) of Work attached and may change if the study design is amended in the final protocol. Price is
exclusive of Value Added Taxes (VAT) which, where required, shall be charged at the prevailing rate.

 

Studies
will be conducted at, and will be invoiced by, the following Charles River site: Charles River Laboratories Montreal ULC (Senneville).

 

If
applicable prices assume one review cycle for draft protocol(s) and for draft report(s) and incorporation of one set of client comments
into the final document(s). Sponsor shall provide one collated document if multiple reviewers are required. Further review cycles may
incur additional costs.

 

Repeat
of Sample Analysis. If applicable for studies involving bioanalytical sample analysis, the
parties agree that as of commencement of work, in some instances, repeat of sample analysis will be required. Consequently, the price
per sample analysis/occasion will apply to any additional repeats requested by the Sponsor, as well as any samples above the analytical
range, which require dilution.

 

Pricing
is considered valid for 60 days from the date of this SOW but may be adjusted in accordance with market conditions and if authorized,
assumes that work will commence no later than one year from the date of authorization. Charles River reserves the right to review the
pricing if work does not commence within such time period.

 

In
order to minimize the impact of study delays and cancellations for all clients, Charles River allocates resources at the time a signed
SOW is received. If all studies and/or components are not being authorized at this time, please initial the studies and components above
that you wish to authorize and sign and date the authorization line below. If all studies are being authorized at this time, merely sign
and date the authorization line below, leaving the studies and component boxes empty. Please note that scheduling is not considered
confirmed until a signed copy of this document is received. By providing authorization via signature below, you will allow
us to confirm a schedule for each authorized study. Your signature further constitutes acceptance of the price and payment schedule.

 

Payment
Schedules

 

Each
study will be invoiced separately according to the following payment schedules.

 

Payment
Schedule for Study No. 1003374

 

The
payment schedule for this study is as follows:

 

		●	50%
                                            Due Upon Initiation of Development
		●	50%
                                            Due Upon Completion of Work

 

Payment
Schedule for Study No. 1003375, 1003385

 

The
payment schedule for this study is as follows:

 

		●	50%
                                            Due Upon Initiation of Validation
		●	50%
                                            Due Upon Submission of Draft Report

 

Payment
Schedule for Study No. 5702107, 5702108, 5702109

 

The
payment schedule for this study is as follows:

 

		●	75%
                                            Study Payment Authorization
		●	25%
                                            Submission of Draft Report

 

Payment
Schedule for Study No. 5702110, 5702111

 

The
payment schedule for this study is as follows:

 

		●	30%
                                            Study Payment Authorization
		●	30%
                                            Study Initiation
		●	30%
                                            Completion of Inlife
		●	10%
                                            Submission of Draft Report

 

The
first invoice(s), linked to the first milestone in the Payment Schedule(s), will be sent no more than 120 days prior to scheduled animal
arrival/commencement of work.

 

If
the final report is delayed through no fault of Charles River, any remaining invoices will be issued 3 months after the date on which
the draft report was sent.

 

We
would propose to initiate these studies in Q4 2022. Prior to receipt of this signed SOW, this initiation date may be lost to another
study vying for the same resources.

 

    	STATEMENT OF WORK CONFIDENTIAL	4 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

It
should also be noted that the initiation date is based on the scopes of work included in this Statement of Work. If the study design(s)
change significantly before study commencement, timelines may need to be rescheduled.

 

Study
Material Storage/Archives. After dispatch of the draft report, all raw data, samples/specimens (except for those sent to Sponsor
or Sponsor designated laboratory and resultant data which are the responsibility of Sponsor) and documents generated at Charles River
during this study, together with the original copy of the protocol (including amendments) and the final report, will be retained in the
secure storage area of Charles River for one (1) year at no additional charge (unless otherwise stated in the Scope of Work). After this
period, Sponsor will be contacted to authorize (i) continued storage at Charles River’s current storage rates (ii) return of the
materials to Sponsor or (iii) disposal of materials, at additional cost.

 

Authorization
Statement

 

Sponsor
hereby authorizes Charles River to proceed with the necessary activities to initiate these services, including where appropriate, but
not limited to, protocol development, contract finalization, study room reservation and definitive scheduling of service-related activities
(collectively “Services”). By executing this document Sponsor understands and agrees to the financial responsibility for
all service fees, costs and expenses in accordance with SOW including those incurred by Charles River in preparation of Services. Any
modification that requires an increase in cost subsequent from the effective date of this SOW will be adjusted through an amended or
additional SOW.

 

Please
sign and return this document via email to your Charles River contact. We look forward to working together.

 

Best
regards,

 

	Charles
    River Laboratories Montreal ULC	 	Sponsor:
    EOM Pharmaceuticals, LLC
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Duly
    authorized	 	Duly
    authorized
	 	 	 	 	 
	Print
    Name:	Nadine
    Hamaoui	 	Print
    Name:	 
	Title:	Client
    Manager	 	Title:	 
	Date:	26
    January 2022	 	Date:	 

 

    	STATEMENT OF WORK CONFIDENTIAL	5 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

To
ensure an optimal invoicing process, please provide the following information:

 

	Invoice
    address (if different to page 1):	 
	 	 
	 	 
	 	 
	 	 
	 	 
	E-mail
    address for receipt of Invoices (invoices will only be sent as PDF to this e-mail address):	 
	 	 
	 	 

 

Charles
River requires a PO prior to the initiation of any work. By executing this Statement of Work, Sponsor acknowledges that billing will
occur, and payment will be remitted to Charles River in the absence of a PO.

 

Please
submit a PO with the signed Statement of Work. Note that any contradictory terms and conditions set forth on a PO shall not be applicable
to the services provided hereunder

 

	PO
    number 	 	 
	 	 	 
	VAT
    number (if applicable) 	 	 

 

    	STATEMENT OF WORK CONFIDENTIAL	6 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

SEND
datasets – for applicable studies only:

 

If
applicable (refer to scope of work), SEND datasets included as per current SEND standards in place at time of study start. Only the domains
modeled in the current SEND Implementation Guide in place at time of study start are in scope for CRL SEND Implementation.

 

For
applicable studies, SEND datasets will be scheduled to be provided based on regulatory submission dates unless otherwise requested.

 

SEND
datasets will not be converted for data provided by a non-CRL provider. However CRL will merge SEND compliant data provided by third
parties into the final package. Please see Sponsor deliverables below for further information and note that any delays in the supply
of third party or Sponsor SEND contributions may affect delivery date of the full SEND package.

 

FDA
Submission ready files – Includes the following (for submission at the CDER and CBER division of FDA only):

 

	 	1.	All
    relevant SEND datasets
	 	2.	define.xml
    (version 2.0)
	 	3.	Study
    Data Reviewer’s Guide (which includes statement that the data accurately reflects final report).

 

Sponsor
Deliverables:

 

	 	●	It
    is the Sponsors responsibility to ensure all parties involved in the study are capable of producing SEND domains where appropriate.
    Charles River is not responsible for supporting parties that cannot provide the data in a SEND compliant format, Excel (.xlsx) or
    SAS (.xpt) files.
	 	●	The
    sponsor/subcontractor also needs to provide the relevant Comments – CO domain, RELRECs, Define and SDRG entries. These deliverables
    are expected to be delivered to CRL with the contributing report(s). If there is a delay in the receipt of the contributing SEND
    deliverables, Charles River reserves the right to reschedule the delivery of the final package. (An example of this scenario applies,
    when the sponsor conducts or subcontracts the Pharmacokinetic Concentrations – PC or Pharmacokinetic Parameters – PP.)
	 	●	Any
    sponsor assistance required to generate SEND data formats will be at additional charge.
	 	●	Any
    issues found with subcontractor SEND production capabilities will be escalated to the Sponsor for resolution.
	 	●	SEND
    v3.1 - Includes Single Dose, Repeat Dose, Carcinogenicity, Respiratory and Cardiovascular studies as per SENDIG v3.1 Scope. Only
    the domains modeled in the SEND Implementation Guide 3.1 are in scope for CRL SEND Implementation. Studies starting on or after December
    17, 2016 (protocol signature date) will be provided in SENDIG v3.1**Note: CRL may use third parties to aid in the production of SEND
    datasets.

 

**Note:
CRL may use third parties to aid in the production of SEND datasets.

 

    	STATEMENT OF WORK CONFIDENTIAL	7 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

SCOPES
OF WORK

 

	Sponsor
    Study Title	 	Development
    of a LM-MS/MS Method for the Quantification of Test Material in Rabbit and Dog Plasma
	CRL
    Study ID	 	CRL-396097
	Sponsor
    Study Reference ID	 	1003374
	Charles
    River Facility	 	Charles
    River Laboratories – Senneville
	Compliance	 	Non-Regulated

 

	METHOD DETAILS
	Test Material
    Name	TBD
	Analyte Name	TBD
	Analyte Type	Small Molecule
	Number of Analytes	Single
	Method of Separation	High-Performance Liquid
    Chromatography (HPLC)
	Method of Detection	MS/MS
	Species Family of Matrix	Rabbit Plasma and Dog Plasma

 

	Scope
    of Work	 	Number
    of Units	 	 	Price
    Per Unit	 	 	Study
    Fee	 	 	Description
	Method
    Development 
	 	 	1	 	 	$	25,200	 	 	$	25,200	 	 	An LC-MS/MS method
    will be developed for the quantification of test article in Rabbit and Dog Plasma. Appropriate chromatographic, mass spectrometric,
    and sample extraction procedures will be developed to achieve the sensitivity and specifications needed and can be used to support
    non-regulated studies. 
Method development will be conducted by the laboratory for up to 10 days. If additional experiments are
    warranted, additional days can be added at Single Analyte $2,520 per day via change order after consultation with the Sponsor. 
If
    method development experiments do not result in a method which can be further developed based on properties of the compound or reagents
    the study will be terminated and Sponsor will be invoiced for all work completed. Charles River will provide the Sponsor with timely
    updates on progress.
	Rabbit
    and Dog Plasma	 	 	1	 	 	$	2,450	 	 	$	2,450	 	 	Rabbit and Dog Plasma will
    be purchased from commercial sources and will be used as the blank (control) matrix. 
	Materials	 	 	Additional	 	 	 	TBD	 	 	 	ASOW	 	 	The Sponsor
    will supply or reimburse for the reference materials and suitable internal standard(s). Surcharges may apply for supplies that run
    outside the normal budget for this work.
	Summary
    Report	 	 	1	 	 	$	3,675	 	 	 	ASOW	 	 	At the Sponsor’s request,
    a method summary report will be provided. A Change Order will be issued for authorization by the Sponsor for any report fees. Requests
    for specific formatting or multiple revisions may incur additional fees.
	Archiving	 	 	1	 	 	 	Included	 	 	For a period of 1 year following
    completion of the study. Following this period, additional archiving will be by a separate archiving agreement and at an additional
    cost.
	Total
    Study Fee	 	 	$27,650

 

    	STATEMENT OF WORK CONFIDENTIAL	8 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	Sponsor
    Study Title	 	Validation of
    an LC-MS/MS Method for the Quantification of Test Material in Rabbit Plasma
	CRL Study ID	 	CRL-396098
	Study Number	 	1003375
	Charles River Facility	 	Charles River Laboratories – Senneville
	Compliance	 	GLP

 

	METHOD
    DETAILS
	Test
    Material Name	TBD
	Analyte
    Name	TBD
	Analyte
    Type	Small
    Molecule
	Number
    of Analytes	Single
	Method
    of Separation	High-Performance
    Liquid Chromatography (HPLC)
	Method
    of Detection	MS/MS
	Species
    Family of Matrix	Rabbit
    Plasma

 

	Scope
    of Work	 	Number
    of Units	 	 	Price
    Per Unit	 	 	Study
    Fee	 	 	Description
	Validation	 	 	1	 	 	$	33,600	 	 	$	33,600	 	 	Validation
    will include a minimum of [****] standard curves, along with at least [****] concentrations (LLOQ, low, medium, high) and a minimum
    of [****] replicates total at each concentration. Intra-assay and inter-assay precision and accuracy of the QC samples will be determined.
    Validation will also include evaluation of linearity and limit of quantification, reproducibility, dilution effect, recovery, matrix
    effect, selectivity, carryover, processing stability, freeze-thaw, whole blood and frozen stability as well as stock solution stability
    as described in the study protocol. 
All matrix stability evaluations will be performed at the low and high QC levels. Long-term
    frozen storage stability testing at one time point and one temperature is included in the validation fee. The final validation fee
    is dependent upon the complexity of the assay and other compound-specific issues. Validation cost includes parameters listed above.
    Sponsor-specific requests for additional parameters will incur additional fees at $2,520 per parameter via change order (ASOW) after
    consultation with the Sponsor.
	Additional Stability
    Testing	 	 	TBD	 	 	$	4,725	 	 	 	ASOW	 	 	Additional fees may
    be applied if additional stability time points/temperatures are requested by the Sponsor. A Change Order (ASOW) will be issued for
    authorization by the Sponsor for any additional stability time points.
	Materials	 	 	N/A	 	 	 	N/A	 	 	 	ASOW	 	 	The Sponsor will supply
    or reimburse for the reference materials and suitable internal standard(s). Surcharges may apply for supplies that run outside the
    normal budget for this work.
	Report	 	 	1	 	 	 	Included	 	 	Draft and Final Reports
    are included. The final bioanalytical procedure will be provided with the validation report. Requests for specific formatting for
    protocols and/or reports and/or multiple revisions may incur additional fees.
	Archiving	 	 	1	 	 	 	Included	 	 	For a period of 1 year
    following completion of the study. Following this period, additional archiving will be by a separate archiving agreement and at an
    additional cost.
	Total Study
    Fee	 	 	$33,600

 

	OPTIONAL
    FEES:

    A
    Change Order (ASOW) may be issued for authorization by the Sponsor for any additional study fees as required.

 

	Scope
    of Work	 	Number
    of Units	 	 	Price
    Per Unit	 	 	Study
    Fee	 	Description
	Assessment
    in presence of Co-administered compounds 
[Fluid]	 	 	2	 	 	$	2,520	 	 	ASOW	 	Stability of the analyte(s) of
    interest will be assessed in the presence of other co-administered compounds. Pricing includes QC preparation, short-term frozen,
    and freeze/thaw assessments. 
Additional assessments will incur additional fees.

 

    	STATEMENT OF WORK CONFIDENTIAL	9 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	Sponsor Study
    Title	 	Validation of
    an LC-MS/MS Method for the Quantification of Test Material in Dog Plasma
	CRL Study ID	 	CRL-396992
	Study Number	 	1003385
	Charles River Facility	 	Charles River Laboratories – Senneville
	Compliance	 	GLP

 

	METHOD
    DETAILS
	Test
    Material Name	TBD
	Analyte
    Name	TBD
	Analyte
    Type	Small
    Molecule
	Number
    of Analytes	Single
	Method
    of Separation	High-Performance
    Liquid Chromatography (HPLC)
	Method
    of Detection	MS/MS
	Species
    Family of Matrix	Dog
    Plasma

 

	Scope
    of Work	 	Number
    of Units	 	 	Price
    Per Unit	 	 	Study
    Fee	 	 	Description
	Validation	 	 	1	 	 	$	33,600	 	 	$	33,600	 	 	Validation
    will include a minimum of 3 runs of matrix standard curves, along with at least 4 QC concentrations (LLOQ, low, medium, high) and
    a minimum of 18 replicates total at each concentration. Intra-assay and inter-assay precision and accuracy of the QC samples will
    be determined. Validation will also include evaluation of linearity and limit of quantification, reproducibility, dilution effect,
    recovery, matrix effect, selectivity, carryover, processing stability, freeze-thaw, whole blood and frozen stability as well as stock
    solution stability as described in the study protocol. 
All matrix stability evaluations will be performed at the low and high
    QC levels. Long-term frozen storage stability testing at one time point and one temperature is included in the validation fee. The
    final validation fee is dependent upon the complexity of the assay and other compound-specific issues. Validation cost includes parameters
    listed above. Sponsor-specific requests for additional parameters will incur additional fees at $2,520 per parameter via change order
    (ASOW) after consultation with the Sponsor.
	Additional Stability
    Testing	 	 	TBD	 	 	$	4,725	 	 	 	ASOW	 	 	Additional fees may
    be applied if additional stability time points/temperatures are requested by the Sponsor. A Change Order (ASOW) will be issued for
    authorization by the Sponsor for any additional stability time points.
	Materials	 	 	N/A	 	 	 	N/A	 	 	 	ASOW	 	 	The Sponsor will supply
    or reimburse for the reference materials and suitable internal standard(s). Surcharges may apply for supplies that run outside the
    normal budget for this work.
	Report	 	 	1	 	 	 	Included	 	 	Draft and Final Reports
    are included. The final bioanalytical procedure will be provided with the validation report. Requests for specific formatting for
    protocols and/or reports and/or multiple revisions may incur additional fees.
	Archiving	 	 	1	 	 	 	Included	 	 	For a period of 1 year
    following completion of the study. Following this period, additional archiving will be by a separate archiving agreement and at an
    additional cost.
	Total Study
    Fee	 	 	$33,600

 

	OPTIONAL
    FEES:

    A
    Change Order (ASOW) may be issued for authorization by the Sponsor for any additional study fees as required.

 

	Scope of
    Work	 	Number
    of Units	 	 	Price
    Per Unit	 	 	Study Fee	 	Description
	Assessment
    in presence of Co-administered compounds 
[Fluid]	 	 	2	 	 	$	2,520	 	 	ASOW	 	Stability
    of the analyte(s) of interest will be assessed in the presence of other co-administered compounds. Pricing includes QC preparation,
    short-term frozen, and freeze/thaw assessments. 
Additional assessments will incur additional fees.

 

    	STATEMENT OF WORK CONFIDENTIAL	10 of 30	OPP-251564

     

    

 

 

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    	STATEMENT OF WORK CONFIDENTIAL	22 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

POSTPONEMENT/CANCELLATION
POLICY

 

Charles
River understands that occasionally you may request to delay or to cancel a Study due to unforeseen circumstances. Charles River will
make commercially reasonable efforts to accommodate requested schedule changes. However, as significant costs are incurred related to
Study initiation, cancellation/postponement fees will apply in proportion to the number of days’ notice given. Cancellation/postponement
fees will be assessed separately for each postponement prior to the Study being cancelled or initiated.

 

Upon
receipt of the signed Statement of Work or correspondence from the Sponsor confirming formal authorization to proceed, Charles River
will order or reserve animals and allocate other resources for the specified Study or Services.

 

LABORATORY
SERVICES, IN-VITRO, AND NON-ANIMAL STUDIES

 

For
Laboratory Services, In-Vitro, and other non-animal Studies, including services to generate a protocol and/or report, postponement and
cancellation charges will be based on the amount of notice given prior to the start date of such Services as follows:

 

DELAY
TO STUDY START/POSTPONEMENT

 

	 

    Days
    of Notice Given

    Prior
    to Study Start
	 	Postponement
    Charge

    (%
    of Study Price)

	0- 14 	 	10% plus consumable
    costs*
	15 - 28	 	5% plus consumable
    costs*
	29+	 	Consumable costs*

 

Postponement
charges will apply when the Study Start is delayed by more than one week from the agreed upon start date. Postponement includes situations
where Sponsor fails to provide necessary information for applications for licences, consents and permits on time (e.g., biosafety, opioid,
controlled substances, tissues of human origin etc.)

 

*The
cost of consumables and any other additional applicable fees charged by third parties will be passed on to the Sponsor, unless the consumables
can be reallocated to another study.

 

CANCELLATION

 

	Days
    of Notice Given

    Prior
    to Study Start

    
	 	Cancellation
    Charge

    (%
    of Study Price)

	0 – 7	 	 15% plus consumable
    costs*
	8 – 14	 	 10% plus consumable
    costs*
	15 – 28	 	5% plus consumable
    costs*
	29+	 	 0% plus consumable
    costs*

 

*
Wherever possible, consumables procured specifically for the Study will be reallocated to another Study.  Where this is not possible,
the cost of the consumables and any other additional applicable fees (including license fees) charged by third party suppliers will be
passed on to the Sponsor.

 

    	STATEMENT OF WORK CONFIDENTIAL	23 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

ANIMAL STUDIES

 

For
animal studies, postponement and cancellation charges will be assessed as follows:

 

DELAY
TO STUDY START/POSTPONEMENT

 

	Days
    of Notice Given

    Prior
    to Animal Arrival
	 	Postponement
    Charge

    (%
    of Study Price)

	Animals on-site	 	10% plus animal costs (if applicable)
	1 – 14	 	10%
    plus animal costs (if applicable)

    Minimum
    $/€/£15,000 per room per week of delay

	15 – 56	 	5% plus animal costs (if applicable)
	>56	 	Animal costs (if applicable)

 

Postponement
charges will apply when Day 1 of dosing is delayed by more than one week from the date agreed and detailed in the Study Plan or communicated
by other means and agreed with the Sponsor.

 

Should
any additional applicable costs be charged by the animal supplier, these will be passed on to the Sponsor.

 

CANCELLATION

 

	Days
    of Notice Given

    Prior
    to Animal Arrival
	 	Cancellation
    Charge

    (%
    of Study Price)

	Animals on-site	 	50% plus animal costs*
	1 – 7	 	30% plus animal costs**
	8 – 14	 	20% plus animal costs**
	15 – 56	 	10% plus animal costs**
	57- 120	 	5% plus animal costs**
	>120	 	0% plus animal costs **

 

*
Wherever possible, animals will be reallocated to another Study.  Where this is not possible, the cost of the animals, animal housing
until reallocated (and any other additional applicable fees charged by the animal supplier) will be passed on to the Sponsor.

 

**
Should any animal costs and/or any other additional applicable fees be charged by the animal supplier before the animals are on-site,
these will be passed on to the Sponsor.

 

If
the Sponsor requests postponement of a Study start, we will make every effort to accommodate the requested change; however, due to resource
constraints, Charles River may not be able to reschedule the Study precisely as requested by the Sponsor. If the new schedule is not
acceptable, the Sponsor may elect to cancel the Study, in which case the applicable cancellation charge would apply.

 

    	STATEMENT OF WORK CONFIDENTIAL	24 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

In
the event of postponement or cancellation of the Study by the Sponsor, additional compensation may be requested for items procured specifically
for the study (e.g., dedicated equipment, perishable or non-reusable supplies) and any non-recoverable expenses incurred by Charles River
(e.g., equipment lease payments, subcontractor charges or consultant fees to which Charles River is irrevocably committed).

 

In
the event the Sponsor terminates an ongoing study (i.e. early termination following study initiation), the Sponsor will be responsible
for all fees incurred up to the termination date including all required study closure and reporting activities and any committed costs. 
In addition, a termination fee of up to 50% of the study value will be charged. This fee will be determined per study, based on the study
type, duration and the stage at which the study is terminated.

 

Terms
regarding adjustments to FTE contracts are reflected in the FTE specific contract terms. 

 

All
postponement and cancellation charges are subject to sales tax, VAT and similar taxes as applicable.

 

data
protection addendum – business contact details

 

Charles
River and Sponsor acknowledge that each of them may process Personal Data in connection with this Agreement. As used herein, the term
‘Personal Data’ and ‘Sensitive Personal Data’ shall have the meanings given to them in the General Data Protection
Regulation 2016/679 (collectively, with any applicable Member State data protection laws, and as amended from time to time, the “EU
Data Protection Laws”).

 

Charles
River and Sponsor anticipate that the Personal Data disclosed to each other in connection with this Agreement will consist solely of
the names and contact details of their respective personnel who are involved in the performance or administration of this Agreement.
Each Party represents and warrants to the other Party that it is authorized to disclose or transfer the Personal Data of its personnel
(including its employees and consultants) to the other Party and has obtained the express consent of the relevant data subjects in relation
thereto, or otherwise has an appropriate basis for such disclosure or transfer under applicable law and that it will comply with the
EU Data Protection Laws.

 

    	STATEMENT OF WORK CONFIDENTIAL	25 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

GENERAL
TERMS AND CONDITIONS OF CHARLES RIVER

 

Charles River
(hereinafter referred to as “Company”) shall undertake the protocol(s) referred to in this SOW (hereinafter referred to as
“the Study”), for the client to whom this SOW is addressed (hereinafter referred to as “the Sponsor”) on the
following conditions:

 

	1.	Conduct of the Research.

 

		1.1.	Company
                                            will maintain industry standards of professional conduct in the performance of the Study
                                            and in the preparation of all related reports. Company will adhere to all government laws,
                                            rules and regulations applicable to the conduct of the Study (“Applicable Law”).
                                            If applicable, and as set forth in the protocol, Company will perform the Study in accordance
                                            with generally accepted standards of Good Laboratory Practice or Good Manufacturing Practice.

 

		1.2.	Company
                                            will conduct the Study in accordance with the protocol, which may be amended from time to
                                            time upon the mutual agreement of Company and the Sponsor. If an amendment requires additional
                                            or different work on the part of Company, Company may agree to conduct such work and will
                                            be paid an amount mutually agreed to by the parties. Deviations from the protocol may be
                                            made in an emergency without the Sponsor’s approval, provided that Company shall use
                                            commercially reasonable efforts to obtain the Sponsor’s verbal approval, which shall
                                            be subsequently confirmed by the Sponsor in writing. Should Company be unable to contact
                                            the Sponsor in advance, the Sponsor agrees that in order to maintain the integrity of the
                                            Study, Company may proceed accordingly and be entitled to recover such reasonable additional
                                            costs from the Sponsor upon presentation of an explanation of such emergency changes and
                                            the necessity thereof.

 

	2.	Study Material

 

	 	2.1.	If applicable, the Sponsor will provide Company
  with sufficient amounts of all compounds, materials, or other substances meeting relevant specifications (“Test Materials”)
  with which to perform the Study, as well as such complete and accurate data as is necessary to apprise Company of the stability, proper
  storage and safe handling requirements of the Test Materials, including a Material Safety Data Sheet (MSDS) or equivalent documentation.
  Company will supply a blank MSDS to the Sponsor, if requested by the Sponsor. All costs associated with shipping the Test Materials
  shall be the responsibility of the Sponsor and Company shall not be responsible for any loss, damage or destruction of the Test Materials.

 

	3.	Subcontracting

 

	 	3.1.	Company may elect to subcontract any part
  of the Study to a third party without having to obtain the Sponsor’s prior consent provided that such subcontracted work is agreed
  in the relevant protocol and such work is performed in accordance with this SOW and the relevant protocol and Company shall remain
  fully responsible to the Sponsor for the performance of such work. In the event that Company subcontracts any part of the work to an
  affiliated entity, invoices for such work may be issued to the Sponsor direct by the affiliated entity in the currency specified overleaf
  or as otherwise agreed in writing between the parties. The Sponsor shall pay such invoices directly to the relevant affiliated entity

 

	4.	Inspections

 

		4.1.	Upon
                                            reasonable advance notice and at reasonable frequency, Company will permit the Sponsor and/or
                                            its designated representatives (provided such representatives are not competitors of Company),
                                            during normal business hours and at mutually agreeable times, to visit the Company facilities
                                            where the Study is taking place to monitor Company’s performance of the Study.

 

		4.2.	Company
                                            will notify the Sponsor as soon as practical in the event of any regulatory inspection of
                                            Company’s facilities that directly impact the Study. In the event of an inspection
                                            of the Sponsor by a regulatory or administrative agency, Company will to the extent permissible
                                            under Applicable Law, consult with and allow the Sponsor to review and comment on any responses
                                            to such agency related to the inspection.

 

    	STATEMENT OF WORK CONFIDENTIAL	26 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	5.	Reports

 

		5.1.	Provided
                                            that the Sponsor is not in default hereunder, Company will furnish a report or data containing
                                            information specified in the protocol. All reports will be prepared in the standard format
                                            of the Company unless otherwise agreed in the protocol. In the event the Study requires the
                                            Company to issue a draft report, Company will provide the final report on receipt of the
                                            Sponsor’s approval of the draft or 16 weeks after dispatch of the draft if no comments
                                            are received, whichever is sooner. Additional copies of Reports and Interim Reports not specified
                                            in the protocol will be provided at the Sponsor’s request and expense.
	 	 	 

		5.2.	In
                                            the event Company provides electronic access to the Study data, records, reports and other
                                            documentation and the Sponsor elects to use such electronic access, the use of such electronic
                                            access shall be governed by Company’s standard access terms and conditions which may
                                            be accessed via Company’s website.

 

	6.	Compensation

 

		6.1.	The
                                            Sponsor will pay Company as set forth in the SOW (“Study Price”). The Study Price
                                            is exclusive of VAT which shall be charged, where appropriate, at the prevailing rate. The
                                            Study Price also excludes the cost of importation of samples or specimens and freight charges
                                            associated with their return shipment. All invoices are due and payable thirty (30) days
                                            from the date of the invoice and the Sponsor agrees to pay all invoices submitted. Company
                                            will invoice for amendments to a Study upon signature of such amendment by the Sponsor. All
                                            amounts not paid by the Sponsor when due shall accrue interest from the applicable due date
                                            until paid, at the rate of one and one half percent (1.5%) per month. In addition, Company
                                            may elect to cease or suspend work on the Study or withhold required reports or other deliverables
                                            if the Sponsor does not make payments when due and payable.

 

	7.	Confidentiality

 

		7.1.	The
                                            parties will exchange proprietary and confidential information during the term of this SOW
                                            , including without limitation, the existence and terms of the SOW . Each party will use
                                            its commercially reasonable efforts to maintain such information in confidence and will employ
                                            reasonable and appropriate procedures to prevent its unauthorised publication or disclosure
                                            unless required by Applicable Law to disclose such information. Neither party shall use the
                                            other party’s proprietary or confidential information for any purpose other than in
                                            performance of the SOW . The obligations of confidentiality set for in this Section 7 will
                                            survive termination or expiration of the SOW for a period of five (5) years.

 

		7.2.	The
                                            confidentiality provisions of this Section 7 shall not apply to any part of such information
                                            which (a) is known to the receiving party at the time it was obtained from the disclosing
                                            party; (b) is acquired by the receiving party from a third party and such third party did
                                            not obtain such information directly or indirectly from the disclosing party under obligation
                                            not to disclose; (c) is or becomes published or otherwise in the public domain other than
                                            by violation of this SOW by the receiving party; (d) is independently developed by the receiving
                                            party without reference to or reliance upon the information provided by the disclosing party;
                                            or (e) is required to be disclosed by the receiving party to comply with applicable laws
                                            or governmental regulations; provided that the receiving party provided prompt written notice
                                            of such disclosure to the disclosing party and cooperates with the disclosing party’s
                                            reasonable and lawful actions to avoid and/or minimize the extent of such disclosure.

 

		7.3.	Neither
                                            party will use the other party’s name or the name of any employee of the other party
                                            in any advertising, packaging, promotional material, or any other publicity relating to the
                                            SOW, without the prior written approval of the other party.

 

		7.4.	Transfer,
                                            storage, use and processing of personal data shall be made in accordance with the Data Protection
                                            Exhibit attached hereto and made a part hereof.

 

	8.	Warranties

 

		8.1.	The
                                            Sponsor warrants that it owns all rights, title and interest in the Test Materials furnished
                                            by the Sponsor to Company hereunder and the intellectual property related thereto, and that
                                            Company’s use of any and all such Test Materials in connection with the Study does
                                            not infringe any third party rights.

 

		8.2.	Company
                                            warrants that the services described in the SOW shall conform to the protocol specifications
                                            and the current material applicable standards, regulations and procedures of the appropriate
                                            regulatory agencies. Company does not warrant or represent that the results of the Study
                                            will be acceptable to any regulatory or governmental agency to which they are presented nor
                                            that the results of the Study will enable the Sponsor to further develop, market or otherwise
                                            exploit the Test Materials or any other product or service. This SOW is to carry out experimental
                                            research and for the use of experimental materials whose properties and safety may not have
                                            been established. Accordingly, specific results cannot be guaranteed and any delivered items
                                            provided by Company to the Sponsor under this SOW are provided ‘AS IS’ and without
                                            any express or implied warranties, representations or undertakings, except as set forth above.

 

    	STATEMENT OF WORK CONFIDENTIAL	27 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	9.	Limitation of Liability

 

		9.1.	Company
                                            will not be liable for penalties or liquidated damages or for special, indirect, consequential
                                            punitive, exemplary or incidental damages of any type or kind (including, without limitation,
                                            lost profits) regardless of whether any such losses or damages are characterised as arising
                                            from breach of contract, breach of warranty, tort/delict, strict liability or otherwise,
                                            even if Company is advised of the possibility of such losses or damages, or if such losses
                                            or damages are foreseeable.

 

		9.2.	Company’s
                                            liability under the SOW, regardless of the form of action, shall be limited to actual damages
                                            and shall not exceed the total SOW price (excluding any value added tax thereon). In no event
                                            shall Company be liable for any damages arising from or in connection with any decision by
                                            the Sponsor or any third party to further research, develop or market the Test Materials
                                            or any derivative or product or service related thereto or the use of the Test Materials
                                            or any product or derivative or service related thereto.

 

		9.3.	Subject
                                            to the limitations set forth in this Section 9, in the event that Company commits a breach
                                            of warranty set Section 8.2 above, Company’s sole liability, and the Sponsor’s
                                            sole remedy shall be for Company to conform, at Company’s cost and expense, the affected
                                            work or portion of the research affected by the breach to the relevant specification.

 

	10.	Indemnities

 

		10.1.	Subject
                                            to the limitations of liability contained in Section 9 above, Company will defend, indemnify,
                                            save and hold harmless the Sponsor and its parent, subsidiaries and affiliates and their
                                            respective directors, officers, employees and agents from and against any claims, demands,
                                            suits, actions, causes of action, losses, damages, fines and liabilities, including reasonable
                                            professional fees (“Claims”) arising out of or in connection with or attributable
                                            to Company’s gross negligence or wilful misconduct in performance of the Study, and
                                            will pay any costs and damages which, by final judgement, after exhaustion of all reasonable
                                            appeals, may be assessed against them, provided that Company is given written notice of the
                                            Claims within five (5) days of the date of notice to the Sponsor and is given information,
                                            reasonable assistance, and sole authority to defend and/or settle the claim.

 

		10.2.	The
                                            Sponsor will defend, indemnify, save and hold harmless Company and its parent, subsidiaries
                                            and affiliates and their respective directors, officers, employees and agents from and against
                                            any Claims arising out of or in connection with or attributable to (a) the research, development,
                                            manufacture, distribution, use, sales or other disposition by the Sponsor, or any distributor,
                                            collaborator, customer, sublicense, representative or agent of the Sponsor, of the Test Materials
                                            and/or any other substances upon which the services of Company were performed, or (b) any
                                            infringement of any third party’s patent rights or unauthorised use or misappropriation
                                            of its know-how, or (c) personal injury related to contact with Company’s animals,
                                            tissues, samples or specimens during visits to Company’s facilities or after delivery
                                            of any animals, tissues, samples or specimens to the Sponsor, or (d) the Sponsor’s
                                            gross negligence or wilful misconduct in connection with the SOW and will pay any costs and
                                            damages which, by final judgement, after exhaustion of all reasonable appeals, may be assessed
                                            against them, provided that the Sponsor is given written notice of the Claims within five
                                            (5) days of the date of notice to Company and is given information, reasonable assistance
                                            and sole authority to defend and/or settle the claim.

 

	11.	Ownership

 

		11.1.	Any
                                            inventions and/or techniques for carrying out the services described in the protocol which
                                            relate to the conduct of Company’s business are and shall remain Company’s exclusive
                                            property, including but not limited to; present and future documentation, scientific and
                                            technical data, test procedures and other information that is owned or licensed by Company
                                            and any improvements thereto made during the performance of the Study under this SOW. Subject
                                            to the terms and conditions hereof, Company shall have the right to use concurrent control
                                            data as part of its general historical database. Any data, discoveries or inventions developed
                                            or generated pursuant to the SOW which directly relate to any information or materials
                                            provided by the Sponsor hereunder, including without limitation new data, uses, processes
                                            or compositions directly relating to the information or materials provided hereunder shall
                                            be the exclusive property of the Sponsor. Company agrees to assist the Sponsor in securing
                                            for the Sponsor any patents, copyrights or other proprietary rights in such data, discoveries
                                            or inventions, and to perform all acts that may be reasonably required to vest in the Sponsor
                                            all right, title and interest in such data, discoveries or inventions, and Company shall
                                            be compensated at its standard rates for such assistance. All costs and expenses associated
                                            with establishing the Sponsor’s rights therein shall be the Sponsor’s responsibility.

 

    	STATEMENT OF WORK CONFIDENTIAL	28 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

	12.	Insurance

 

		12.1.	Each
                                            party shall carry insurance sufficient to cover its interest or potential liabilities hereunder
                                            including, but not limited to worker’s compensation, if applicable, and comprehensive
                                            general liability.

 

	13.	Force Majeure

 

		13.1.	Except
                                            with respect to the payment of monies due hereunder, neither party shall be considered in
                                            default of the performance of any obligation hereunder to the extent that the performance
                                            of such obligation is prevented or delayed by fire, flood, earthquake, explosion, strike,
                                            acts of terrorism, disease, war, insurrection, embargo, government requirement, civil or
                                            military authority, act of God, or any other event, occurrence or condition which is not
                                            caused, in whole or in part, by that party, and which is beyond the reasonable control of
                                            that party.

 

	14.	Termination

 

		14.1.	The
                                            Sponsor shall have the right to terminate the on-going Study at any time without cause upon
                                            thirty (30) days prior written notice to Company. In the event the Study is terminated without
                                            cause, Company shall be paid for all services rendered through the effective date of termination,
                                            together with any additional expenses incurred in connection with the shutdown of the Study
                                            including without limitation any irrevocably committed costs, together with a fee to cover
                                            the loss of and/or disruption to laboratory work caused by the termination as agreed and
                                            set forth in this SOW.

 

		14.2.	Either
                                            party may terminate the SOW at any time upon thirty (30) days prior written notice to the
                                            other party, for material breach of the SOW by the other party if such breach is not remedied
                                            to the non-breaching party’s reasonable satisfaction within the thirty (30) day notice
                                            period.

 

		14.3.	Upon
                                            termination, neither party will have any further obligations under the SOW, except that (i)
                                            the liabilities accrued through the date of termination and (ii) the obligations which by
                                            their terms survive termination, including the applicable confidentiality, record keeping,
                                            regulatory compliance, intellectual property and indemnification provisions of the Contract,
                                            shall survive termination.

 

	15.	Dispute Resolution

 

	 	15.1.	The parties shall attempt, in good faith,
  to resolve through negotiations any controversy, claim, or dispute arising out of the SOW. In the event that negotiations are not successful,
  the controversy, claim, or dispute shall be submitted to third party mediation upon terms reasonably acceptable to the parties. If
  such claim, controversy or dispute is not resolved through mediation, upon written demand of either party, the claim, controversy or
  dispute shall be submitted to arbitration. Such arbitration shall take place in the jurisdiction in which the services are provided,
  and shall proceed in accordance with the laws of such jurisdiction and the Rules of the United Nations Commission on International
  Trade Law Model Law on International Commercial Arbitration. A record and transcript of the proceedings shall be maintained. Any award
  shall be made in writing and in reasonable detail, setting forth the findings of fact and conclusion of law supporting the award. The
  determination of a majority of the panel of arbitrators shall be the decision of the arbitrators, which shall be binding regardless
  of whether one of the parties fails or refuses to participate in the arbitration. The decision shall be enforceable by a court of law,
  provided that the decision is supported by substantial fact and is without material error of law. All costs of such arbitration, except
  expert fees and attorneys’ fees, shall be shared equally by the parties.

 

	16.	Archiving

 

		16.1.	All
                                            Study reports and supporting documentation originating with Company (e.g., slides, blocks,
                                            original data and other materials arising out of the Study) are the Sponsor’s property
                                            (“Materials”). Except as otherwise required by applicable law or set forth in
                                            the protocol, Company shall retain in its archive for a period of one year following the
                                            date of the final report all Materials, or for such shorter period as, in the opinion of
                                            Company, the quality of the Materials affords evaluation. At the end of the period referred
                                            to above, Company shall contact Sponsor to determine disposition of the Materials as follows:
                                            (a) extended storage of the Materials; (b) return of the Materials to Sponsor at Sponsor’s
                                            expense or (c) disposal of Materials at Sponsor’s expense. If the Sponsor requests
                                            Company to continue to store the Materials and Company agrees, the cost for storage of the
                                            Materials shall continue to be invoiced to the Sponsor at Company’s then current rates.
                                            If the Sponsor fails to give such instructions, Company shall so notify the Sponsor, and
                                            if such instructions are still not forthcoming within thirty (30) days of said notification,
                                            then Company shall have the option of continuing storage of the Materials, which will be
                                            deemed to have been authorised for an additional period of not less than one (1) year or
                                            Company may return the Materials to the Sponsor at the Sponsor’s expense. The Sponsor
                                            shall be liable for storage charges until the Materials are returned to the Sponsor. While
                                            the Materials are in transit to the Sponsor, all risk of loss or exposure to the Materials
                                            shall be borne by the Sponsor.

 

    	STATEMENT OF WORK CONFIDENTIAL	29 of 30	OPP-251564

     

    

 

Certain
identified information has been excluded from the exhibit because it is both not material and is the type that the registrant treats
as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[****]”

 

		16.2.	If
                                            the Materials require additional and/or special storage requirements, additional charges
                                            for storage shall be assessed and invoiced to the Sponsor. Invoices shall be issued annually
                                            in advance and are due and payable upon receipt and the Sponsor agrees to pay all invoices
                                            submitted.

 

		16.3.	Company’s
                                            liability for archival services under the SOW, regardless of the form of action shall not
                                            exceed the fee paid for one year’s storage of the Materials.

 

	17.	Employee Solicitation

 

		17.1.	The
                                            Sponsor agrees that during the term of the Study and for a period of one hundred and eighty
                                            (180) days thereafter, the Sponsor will not hire, or engage as an independent contractor,
                                            any person who has been involved in rendering services on the Study, without prior written
                                            consent of Company. In the event of such solicitation, hiring or engagement, in addition
                                            to any other remedy Company may have, Sponsor shall pay to Company an amount equal to such
                                            employee’s annual salary.

 

	18.	Miscellaneous

 

		18.1.	Notices.
                                            All notices from one party to the other will be in writing. Notices shall be sent by overnight
                                            courier, certified mail, return receipt requested, or by other means of delivery requiring
                                            a written acknowledged receipt. All notices shall be effective upon receipt.

 

		18.2.	Independent
                                            Contractor. The business relationship of the Company to the Sponsor is that of an independent
                                            contractor and not of a partner, joint venture, employer, employee or any other kind of relationship.

 

		18.3.	Assignment.
                                            The SOW, and the rights and obligations hereunder, may not be assigned or transferred by
                                            either party without the prior written consent of the other party, except that either party
                                            may assign this SOW to an affiliated company or in connection with the merger, consolidation
                                            or sale of substantially all assets related to the Study.

 

		18.4.	Entire
                                            Agreement. The SOW sets forth the entire agreement and understanding between the parties,
                                            superseding any and all previous statements, negotiations, documents agreements and understandings,
                                            whether oral or written, as to the subject matter of the SOW. No modification or waiver of
                                            the provisions of the SOW shall be valid or binding on either party unless in writing and
                                            signed by both parties. No waiver of any term, right or condition under the SOW on any one
                                            occasion shall be construed or deemed to be a waiver or continuing waiver of any such term,
                                            right or condition on any subsequent occasion or a waiver of any other term, right or condition
                                            hereunder.

 

		18.5.	Severability.
                                            In the event that any one or more of the provisions contained in the SOW will, for any reason,
                                            be held to be invalid, illegal or unenforceable in any respect, that invalidity, illegality
                                            or unenforceability will not affect any other provisions of the SOW, and all other provisions
                                            will remain in full force and effect.

 

		18.6.	Applicable
                                            Law. The SOW will in all events and for all purposes be governed by, and construed in accordance
                                            with, the laws of the jurisdiction in which the services are provided without regard to any
                                            choice of law principle that would dictate the application of the law of another jurisdiction.

 

    	STATEMENT OF WORK CONFIDENTIAL	30 of 30	OPP-251564Document

        

Exhibit 10.1

BARNES & NOBLE EDUCATION, INC.
120 Mountainview Boulevard
Basking Ridge, New Jersey 07920

June 23, 2022

Mr. Michael P. Huseby
Barnes & Noble Education, Inc.
990 Stewart Avenue, Suite 520
Garden City, NY 11530

Dear Michael:

This amendment (the “Amendment”) amends the employment agreement between you and Barnes & Noble Education, Inc. (the “Company”) dated July 19, 2017, as amended effective as of November 1, 2020 (the “Agreement”).  This Amendment is effective as of September 1, 2022.

1.    The first sentence of Section 2 of the Agreement is amended to read as follows: “The initial term of this Agreement shall continue until September 20, 2023 or, if earlier, the termination of your employment in accordance with the provisions set forth below (the “Initial Term”).”

2.    The last sentence of Section 3.2 of the Agreement is amended to read as follows: “Your target bonus for each fiscal year of the Company shall be 100% of the Annual Base Salary.”

3.     The first sentence of Section 3.9(a) of the Agreement is amended to read as follows:  “In the event that, during the Initial Term or any Renewal Term, (1) your employment is terminated by the Company without Cause, (2) you voluntarily terminate your employment for Good Reason or (3) the Company elects not to renew the term of this Agreement and you thereafter resign your employment effective upon the expiration of the then current Initial Term or Renewal Term, as applicable, then, in addition to the Accrued Obligations (as described in Section 3.9(b)), the Company shall pay you an amount equal to the sum of (i) your then Annual Base Salary, (ii) your target annual bonus for the year of termination, (iii) the aggregate annual dollar amount of the payments made or to be made to you or on your behalf for purposes of providing you with the benefits set forth in Sections 3.4 and 3.8 above, less all applicable withholding and other applicable taxes and deductions (“Severance Amount”) and (iv) with respect to each stock option or other equity award relating to the Company’s common stock (each an “Equity Award”), accelerate the vesting of the shares subject to such Equity Award that would vest subject solely to your continued employment during the twelve months following the date of you termination of your employment; provided that (x) you execute and deliver to the Company, and do not revoke, a release of all claims against the Company substantially in the form attached hereto as Exhibit A (“Release”) and (y) you have not materially breached as of the date of such termination any provisions of this Agreement and do not materially breach such provisions at any time during the Relevant Period (as defined below).”  

4.    The last two sentences of Section 3.9(a) of the Agreement are amended to read as follows:  “The Severance Amount shall be paid in cash in a single lump sum on the later of (1) the first day of the month following the month in which such termination occurs and (2) the date the Revocation Period (as defined in the Release) has expired; provided, however, that if the 60-day period during which you have to consider whether to execute the Release and during which the Release must become irrevocably effective (as specified in the next sentence) spans two calendar years, then no Severance Amount will be paid prior to the first payroll date after January 1 of the 
			
	

        

second such calendar year.  Notwithstanding anything in this paragraph to the contrary, if a Release is not executed and delivered to the Company and has not become irrevocable within 60 days of such termination of employment, the Severance Amount shall not be paid, but the Accrued Obligations nevertheless shall be paid.

5.    The first sentence of Section 3.10(a) of the Agreement is amended to read as follows:  “If at any time during the Initial Term and any Renewal Term (i) there is a Change of Control (as defined below) and (ii) your employment is terminated by the Company without Cause or you voluntarily terminate your employment for Good Reason, in either case, within the greater of two years following the Change of Control or the remainder of the Initial Term or any Renewal Term, as applicable, then the Company shall pay you an amount equal to the sum of (x) your then Annual Base Salary, (y) your target annual bonus for the year of termination (or, if higher, as in effect immediately prior to the Change of Control) and (z) the aggregate annual dollar amount of the payments made or to be made by the Company for purposes of providing you with the benefits set forth in Sections 3.4 and 3.8 above, less all applicable withholding and other applicable taxes and deductions (“Change of Control Amount”).”

6.    A new sentence is added to the end of Section 6.10 as follows: Notwithstanding your right to receive payment of the Severance Amount pursuant to the terms herein, in no event will any portion of the Severance Amount that qualifies as “nonqualified deferred compensation” under Section 409A of the Code be paid until you have incurred a “separation from service” within the meaning of Section 409A of the Code.

7.    Subject to the terms of this Amendment, the Agreement remains in full force and effect.

Furthermore, by signing below, you hereby agree that if the Company determines to separate the positions of Chief Executive Officer and Chairman of the Board while you are serving in both roles, you will continue as Chief Executive Officer, and the removal of your authority, duties, responsibilities, and title relating to the Chairman of the Board role shall not result in a potential “Good Reason” event under the Agreement.

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If the foregoing accurately reflects our agreement, kindly sign and return to us the enclosed duplicate copy of this Amendment.

Very truly yours,

BARNES & NOBLE EDUCATION, INC.

By:  /s/ David Golden    
     David Golden
     Chairman of the Compensation Committee of the Board of Directors

Accepted and Agreed to:
MICHAEL P. HUSEBY

/s/ Michael P. Huseby  
Michael P. Huseby

Date: June 23, 2022

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