Document:

SUPPLEMENT AND AMENDMENT AGREEMENT

This Supplement and Amendment Agreement (the “Agreement”), dated as of March 8, 2017, is entered into by and between Q Biomed Inc., a Nevada corporation (the “Company”), and YA II CD, Ltd. (the “Buyer”), and (i) supplements and amends a Securities Purchase Agreement entered into on November 29, 2016 between the Company and the Buyer (as amended, modified, or supplemented from time to time, the “Securities Purchase Agreement”) and (ii) amends one term of the Registration Rights Agreement entered into on November 29, 2016 between the Company and the Buyer (the “Registration Rights Agreement”).

BACKGROUND

	(A)	
Pursuant the Securities Purchase Agreement, the Company agreed to issue and sell to the Buyer, and the Buyer agreed to purchase from the Company, certain Convertible Debentures for an aggregate subscription amount of $4,000,000, on the terms and conditions set forth therein.

	(B)	
On November 29, 2016, at the First Closing, the Buyer subscribed for $1,500,000 of Convertible Debentures for a Subscription Amount of $1,500,000.

	(C)	
Pursuant to the Securities Purchase Agreement the Second Closing for $2,500,000 of Convertible Debentures is to take place on or about the date the Registration Statement is first declared effective by the SEC subject to the satisfaction of the closing conditions set forth therein.

	(D)	
The Registration Statement originally filed on December 22, 2016 (SEC File No. 333-215240) has been withdrawn in order to be updated and modified in response to comments by the SEC and the Company intends to re-file a Registration Statement on or shortly after the date hereof.

	 (E)	
The parties now wish to enter into this Agreement in order to (i) split the Second Closing into two separate Closings, such that $1,000,000 shall be purchased on or about the date the new  Registration Statement (the “New Registration Statement”) is filed with the SEC (the “Modified Second Closing”), and $1,500,000 shall be purchased on or about the date the Registration Statement is as first declared effective by the SEC (the “Third Closing”), (ii) remove the ability of the Buyer to waive any Coverage Failure and (iii) reduce the number of shares that the Company is required to register under the Securities Act pursuant to the Registration Rights Agreement from 2,000,000 to 1,775,000.

AGREED TERMS

1.            Definitions and interpretation

	1.1	
Capitalized terms not otherwise defined herein shall have the meanings set forth in Securities Purchase Agreement.

	1.2	
The definition of the terms “Convertible Debentures” as used in Securities Purchase Agreement shall be deemed to include the Convertible Debentures, issued to the Buyer hereunder.

	1.3	
The definition of term “Closing Dates” as used in the Securities Purchase Agreement shall be deemed to include the Modified Second Closing Date and the Third Closing Date as defined herein.

2.            Modification to the closings

The following provisions to the Securities Purchase Agreement set out below shall be replaced in their entirety as set out below, provided that (i) the struck through language is for convenience only to indicate where language in the un-amended Securities Purchase Agreement has been deleted and shall not otherwise be part of the governing language and (ii) all double underlines are for convenience to indicate where language in the un-amended Securities Purchase Agreement has been added.

2.1            Purchase of Convertible Debentures.  Section 1(a) of the Securities Purchase Agreement shall be amended to read:

“Subject to the satisfaction of the conditions set forth in Sections 6 and 7 below, the Company shall issue and sell to the Buyer, and the Buyer agrees to purchase from the Company at each Closing Convertible Debentures in the amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on the Schedule of Buyers attached as Schedule I hereto. Solely with respect to the Third Closing, in the event that the number of Conversion Shares registered for resale by the Buyer on the Registration Statement multiplied by the average volume weighted average price of the Common Stock on the Principal Market during the five (5) consecutive Trading Days immediately prior to the effective date of the Registration Statement is less than one and a half (1.5) times the sum of the aggregate face value of Convertible Debentures purchased by the Buyer at the First Closing and the Modified Second Closing which remain outstanding, and the aggregate face value of the Convertible Debentures to be issued to the Buyer at the Third Closing (such event shall be referred to as a “Coverage Failure”), then the amount of Convertible Debentures to be issued and sold at the Third Closing to such Buyer shall be reduced to the lowest amount which would not result in a Coverage Failure. For the avoidance of doubt, no adjustment shall be made to any Convertible Debentures previously issued at the First Closing or the Modified Second Closing as a result in a Coverage Failure.”

2.2            Closing Dates.  Section 1(b) of the Securities Purchase Agreement shall be amended to read:

“Each Closing of the purchase of Convertible Debentures by the Buyer shall occur at the offices Yorkville Advisors Global, LP, 1012 Springfield Avenue, Mountainside, NJ 07092. The date and time of each Closing shall be as follows: (i) the First Closing shall be 10:00 a.m., New York time, on the first (1st) Business Day on which the conditions to the Closing set forth in Sections 6 and 7 below are satisfied or waived (or such other date as is mutually agreed to by the Company and each Buyer) (the “First Closing Date”), (ii) the Modified Second Closing shall be 10:00 a.m., New York time, on the first (1st) Business Day after the date on which the New Registration Statement is first filed with the SEC, provided the conditions to the Closing are satisfied (or such other date as is mutually agreed to by the Company and the Buyer) (the “Modified Second Closing Date”), and (iii) the Third Closing shall be 10:00 a.m., New York time, on the first (1st) Business Day after the date on which the New Registration Statement is first declared effective by the SEC, provided the conditions to the Closing set forth in Sections 6 and 7 below are satisfied (or such other date as is mutually agreed to by the Company and the Buyer) (the “Third Closing Date” and collectively referred to as the “Closing Date”).  As used herein “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to remain closed.”

2.3            Modified Second Closing Condition. Section 7(m) of the Securities Purchase Agreement shall be amended to read:

“Solely with respect to the Modified Second Closing, the Company shall have filed, or certified that it will file on the Modified Second Closing Date, the New Registration Statement with the SEC materially in compliance with the rules and regulations promulgated by the SEC for filing thereof and addressing all the comments received by the SEC.

2.4            Third Closing Condition. Section 7(n) of the Securities Purchase Agreement shall be replaced in its entirety by the following language:

“Solely with respect to the Third Closing, the New Registration Statement shall be effective.”

2.5            Coverage Failure Condition. Section 7(o) shall be added to the Securities Purchase Agreement as follows:

“Solely with respect to the Third Closing, the issuance and sale of the Convertible Debentures to the Buyer shall not cause a Coverage Failure, and if the Third Closing shall cause a Coverage Failure then the amount of the Convertible Debentures to be issued and sold at the Third Closing to such Buyer shall automatically be reduced to the lowest amount of Convertible Debentures which would not result in a Coverage Failure.”

2.5            Schedule of Buyers. The Schedule of Buyers attached to the Securities Purchase Agreement shall be replaced in its entirety by the Modified Schedule of Buyers attached to this Agreement.

3.            Additional Agreements

3.1            The purchase price to be paid by the Buyer for the Convertible Debentures at the Modified Second Closing and the Third Closing shall be equal to 100% of the face value of such Convertible Debentures issued to the Buyer.  The Schedule of Buyers attached to the SPA shall be replaced by the Modified Schedule of Buyers attached hereto indicating the modifications made to the Second Closing.

3.2            The parties hereby agree that any rights that the Buyer may have had to waive a Coverage Failure shall be terminated.

3.3            The parties agree that the term “Required Registration Amount” as defined in the Registration Rights Agreement shall be reduced from 2,000,000 to 1,775,000 as if such amount were set out in the Registration Rights Agreement from the date into which it was entered.  No other terms of the Registration Rights Agreement are amended or supplemented by this Agreement.

4.            Representations and warranties

		4.1	
Each party to this Agreement represents and warrants to the other as of the date of this Agreement that:

(a)            it has the requisite corporate power and authority to enter into this Agreement and to consummate the transactions contemplated by this Agreement;

(b)            it has taken all necessary corporate actions to authorize the execution, delivery and performance of this Agreement and no further action is required by it, its Board of Directors or managers or its stockholders or members in connection therewith; and

(c)            the obligations assumed by it in this Agreement are legal, valid, and enforceable obligations binding on it in accordance with its terms.

5.            Counterparts and delivery

This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart.  In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

6.            Governing law

This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.  Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York.  Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.  Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under the Securities Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the Company and the Holder have caused this Supplement and Amendment Agreement to be signed by their duly authorized officers.

Q BIOMED INC.

               By:        /s/ Denis Corin                                                                                  

Name:   Denis Corin

Title:     Chief Executive Officer                          

	 	
YA II CD, LTD.

	 	 
	 	
By:            Yorkville Advisors Global, LP

	 	
Its:            Investment Manager

	 	 
	 	
       By:  Yorkville Advisors Global II LLC

	 	
       Its:   General Partner

	 	 
	 	
       By:                          /s/ David Gonzalez

	 	
       Name:       David Gonzalez

	 	
       Title:         Managing Member and General Counsel

MODIFIED SCHEDULE OF BUYERS

	
(a)

	 	 	
(b)

	 	 	
(c)

	 
	
Buyer

	 	 	
Principal Amount of Convertible Debentures

	 	 	
Purchase Price (100% of Face Value)

	 
	 	 	 	 	 	 	 	 
	
YA II CD, Ltd.

	 	 	 	 	 	 	 
	
1012 Springfield Avenue

	
First Closing:

	 	
$

	
1,500,000

	 	 	
$

	
1,500,000

	 
	
Mountainside, NJ 07092

	
Modified Second Closing:

	 	
$

	
1,000,000

	 	 	
$

	
1,000,000

	 
	
Facsimile: (201) 985-8266

	
Third Closing*

	 	
$

	
1,500,000

	 	 	
$

	
1,500,000

	 
	
Email: Legal@yorkvilleadvisors.com

	 	 	 	 	 	 	 	 
	
Aggregate:

	 	
$

	
4,000,000.00

	 	 	
$

	
4,000,000.00

	 
	 	 	 	 	 	 	 	 	 	 
	
* Subject to reduction pursuant to Section 1(a)

	 	 	 	 	 	 	 	 
	
Legal Representative’s Address and Facsimile Number

	 	 	 	 	 	 	 	 
	
David Gonzalez, Esq.

	 	 	 	 	 	 	 	 	 
	
1012 Springfield Avenue

	 	 	 	 	 	 	 	 	 
	
Mountainside, NJ 07092

	 	 	 	 	 	 	 	 	 
	
Facsimile: (201) 985-8266

	 	 	 	 	 	 	 	 	 
	
Email: Legal@yorkvilleadvisors.comEX10.6

 Exhibit 10.6 

BSB Bancorp, Inc. 

INCENTIVE COMPENSATION PLAN 

2017 
 Purpose of the Plan 

BSB Bancorp, Inc. (the Company ) has adopted this Incentive Compensation Plan (the Plan) for the purpose of supporting the organizational and financial
objectives of the Company as defined in the Company’s Business Plan. This Plan provides incentive compensation (Incentive Awards) to certain named Executive Officers and other key contributing officers (the Participants). The Plan is
designed to insure that participants do not take on undue risk to achieve payouts. All participants with responsibility for managing risk have goals for risk control and clawback provisions in the Plan. 

The Plan is further intended to attract, motivate, and retain high quality executives and to support continued growth and profitability of the Company.
Participation in the Incentive Plan is dependent upon one’s responsibility within the Company and ability to influence the Company’s strategic outcomes. Individual incentive payout targets will be shared with each participant. It is
important to note that this Plan is established to reward and recognize participants for meeting set objectives. This Plan is not meant to be a substitute for salary increases. 

Key Terms 
  

	 	•	 	Incentive Awards 

  

	 	•	 	Plan year 

  

	 	•	 	Business Plan 

  

	 	•	 	Company-Wide Goals 

  

	 	•	 	Individual Goals 

  

	 	•	 	Performance Categories 

  

	 	•	 	Maximum Target 

  

	 	•	 	Clawback Policy 

 Performance Objectives 

 

	 	•	 	The Business Plan outlines key strategic initiatives approved by the Board of Directors. Each Division Head will review the Business Plan with Participants within his or her group. Together, they should identify up to
six specific and measurable Individual Goals to support the Business Plan. Company-Wide Goals and their weightings must be approved by the Compensation Committee. 

  
 1 

 Company-Wide Goals include the Performance Categories: 

 

	 	•	 	Deposit growth 

  

	 	•	 	Loan growth 

  

	 	•	 	Net interest income 

  

	 	•	 	Fee income 

  

	 	•	 	Non-interest expense 

  

	 	•	 	Expense control 

  

	 	•	 	Credit quality and portfolio management 

 Individual Goals should include up to six of the following:

  

	 	•	 	Deposit Growth 

  

	 	•	 	Loan Growth 

  

	 	•	 	Expense Control 

  

	 	•	 	Credit Quality / Portfolio Management 

  

	 	•	 	Fee Income 

  

	 	•	 	Net Interest Margin 

  

	 	•	 	Teamwork 

  

	 	•	 	Compliance 

  

	 	•	 	Customer Service – externally and to other colleagues 

  

	 	•	 	Community Involvement 

  

	 	•	 	Referrals to other business units 

  

	 	•	 	Personal goals include major projects or initiatives 

 After the year end close, Participants in the Plan will
report on the achievement of their Individual Goals. Division Heads will summarize individual achievements and recommend to the Company President the percentage payout based on the Individual Goals achieved. The Director of Human Resources will
calculate the payouts and report to the President for approval of the Compensation Committee. Incentive awards will be calculated on year to date regular earnings (exclusive of commissions or incentive payments). 

The Compensation Committee will be responsible for any interpretation of the Plan relating to the Executive Officers named in the Company’s annual proxy
statement (“Named Executive Officers”), including the Company President, and the Compensation Committee’s decision shall be final and binding on all parties. The Company President will be responsible for any interpretation of the Plan
relating to all Participants, other than the Named Executive Officers, and his decision shall be final and binding on all parties. 
 At the beginning of
each Plan year, but no later than March 15th of the Plan Year, the Compensation Committee will consider changes for the upcoming year and determine the weighting for each performance metric. 

  
 2 

 The Compensation Committee may consider extraordinary occurrences impacting Bank earnings which may be excluded
when determining the performance against goals to ensure that the best interests of the Company are protected. 
 Incentive Plan Participants 

The Compensation Committee shall designate the Participants in the Plan who are Named Executive Officers. The Company President is authorized to name
Participants in the Plan other than the Named Executive Officers. Officers hired prior to the third Quarter (October 1), will be included in the plan. A master list of Participants will be shared with the Company President, Compensation Committee,
and Senior Management. 
 At the Beginning of Plan Year 
  

	 	•	 	Participants will identify up to six specific and measurable individual goals in support of the Business Plan. 

  

	 	•	 	The Division Head will review those goals and approve. 

  

	 	•	 	A copy will be provided to the Participant, the Division Head, and Human Resources for their recordkeeping. 

  

	 	•	 	The Incentive Plan will be reviewed and approved by the Compensation Committee and recommended to the Board. 

  

	 	•	 	Plan Participants will be notified of approved Performance Categories and weightings. 

 After Close of the
Plan Year 
  

	 	•	 	The Chief Financial Officer will calculate and report the Company financial results for the prior year. 

  

	 	•	 	The Division Head will receive each Participant’s self evaluation of their performance to Individual Goals. 

  

	 	•	 	The Human Resource Director will calculate the Percent Awards for each participant based on the weighting of Company-Wide and Individual Goal achievement. 

 

	 	•	 	The results will be recommended to the Compensation Committee for approval by the Board. 

  

	 	•	 	Payouts will be made in March of the year following the Plan Year. Participants must be employed at the time of payout. 

Definitions 
 Each group of Officers has a Maximum Target
bonus as a percentage of their salaries. The Maximum Target is met when an individual achieves all objectives and exceeds the important objectives. 
 The
incentive payout for each officer classification will be weighted to include a percentage based on Company-Wide Goals and a percentage based on Individual Goals. Company-Wide Goals will be weighted higher than Individual Goals when considering
incentive recommendations for Executive Officers. 

  
 3 

 For the President and Executive Vice Presidents, Company-Wide Goals are weighted at 75%, for Senior Vice
Presidents 50%, and for Vice Presidents and other Officers 25%. The Compensation Committee will determine the performance against the Company-Wide Goals. 

The following table represents the weighting structure. 
  

					
	 Title
	  	 Weight attributed to

Company-Wide Goals
	 	 Weight attributed to

Individual Goals

	 President / CEO and Executive Officers
	  	75%	 	25%
	 Senior Vice Presidents
	  	50%	 	50%
	 Vice Presidents
	  	25%	 	75%
	 Other Officers
	  	25%	 	75%
	 Other Colleagues
	  	0	 	100%

 Other Considerations 
 It
is not possible to consider all issues that will invariably materialize as plans are developed and implemented. Therefore, the Bank President will act on individual cases as issues are identified. The plan is “discretionary” based on
individual performance consistent with the business plan. Participants on final written warning will be disqualified from receiving an incentive payout for the plan year. The Compensation Committee will also weigh progress on Regulatory
matters in determining the performance of management with respect to Company-Wide Goals. 
 Eligible participants are required to return a signed
acknowledgement of this policy by March 15 annually. 
 Withholding for Taxes 

The Company shall deduct from all payments under this Plan any federal or state taxes required by law to be withheld with respect to such
payments.    This payment is subject to 401k deductions and Company match. No other voluntary deductions will be taken from this payment. 

Clawback Policy 
 Any bonus or incentive compensation paid
or payable under this Plan is subject to the Clawback Policy for Incentive Compensation adopted by BSB Bancorp, Inc. on December 21, 2016. 

  
 4 

 BSB Bancorp.Inc. 

2017 Incentive Plan Ranges 
  

					
	 	  	 	  	2017 Plan Targets
	President / CEO	  		  	0 – 50%
	Executive Vice Presidents	  		  	0 – 40%
	Senior Vice Presidents	  		  	0 – 30%
	Vice Presidents	  		  	0 – 25%
	All Other Officers	  		  	0 – 15%
	All Other Colleagues	  		  	0 – 6%

 Approved by Board of Directors 2.8.2017 

  
 5 

 BSB Bancorp.Inc 

INCENTIVE COMPENSATION PLAN 

2017 ACKNOWLEDGEMENT 

Employee Name                      
                                         
                                         
                                         
                                         
                                       

                          
                      (Print Name) 
 I
acknowledge the receipt of the 2017 BSB Bancorp.Inc Incentive Plan document and I understand it is my responsibility to read and understand the Plan. 

The Plan is subject to change annually. 
  

 
 Employee
Signature                                        
                                     Date 

Return the signed copy to HR by March 15 for recordkeeping. 

  
 6

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