Document:

Exhibit 10.20 

 

AGREEMENT AND PLAN OF MERGER

 

This Agreement and Plan
of Merger (“Agreement”) is entered into on this 12th day of November, 2010, by and among Sheffield Acquisition 1, Inc.,
a Delaware corporation (“Sub 1”), Sheffield Acquisition 2, Inc., a Delaware corporation (“Sub 2”), and
Targeted Genetics Corporation, a Washington corporation (“Parent”).

 

RECITALS:

 

A.           The
boards of directors of Sub 1, Parent and Sub 2 have each determined that it is advisable and in the best interests of each corporation
and its respective stockholders for Sub 1 and Sub 2 to combine into a single company through the statutory merger of Sub 2 with
and into Sub 1 (the “Merger”).

 

B.           In
furtherance thereof, the board of directors of each of Sub 1, Parent and Sub 2 has approved this Agreement and the Merger in accordance
with the applicable provisions of the Delaware General Corporation Law (the “DGCL”), including Section 251(g) of the
DGCL, and upon the terms and conditions set forth in this Agreement, pursuant to which certain shares of capital stock of Sub 1
outstanding immediately prior to the Effective Time will be converted into the right to receive shares of capital stock of Parent,
as set forth herein.

 

C.            As
of the date hereof, Parent holds of record all of the outstanding shares of Sub 2 capital stock.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the
covenants and representations set forth herein, and for other good and valuable consideration, the parties agree as follows:

 

ARTICLE 1

 

THE MERGER

 

1.1           The
Merger. Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with the applicable
provisions of the DGCL, Sub 2 shall be merged with and into Sub 1, the separate existence of Sub 2 shall cease and Sub 1 shall
continue as the surviving entity. Sub 1, as the surviving corporation in the Merger, is hereinafter sometimes referred to as the
“Surviving Corporation.”

 

1.2           Effective
Time. Upon authorization and execution of this Agreement by the parties, the parties hereto shall file a Certificate of
Merger in the form attached hereto as Exhibit A (the “Certificate of Merger”) with the Secretary of State of the State
of Delaware (the “Secretary of State”). The Merger shall become effective upon the filing
of the Certificate of Merger with the Secretary of State of Delaware (the “Effective Time”).

 

    	 

    	 

    

 

1.3           Effect
of the Merger. At the Effective Time, the effect of the Merger shall be as provided in this Agreement, the Certificate
of Merger and the applicable provisions of the DGCL. Without limiting the generality of the foregoing, and subject thereto, at
the Effective Time, all the properties, rights, privileges, powers and franchises of Sub 2 shall vest in the Surviving Corporation,
and all debts, liabilities and duties of Sub 2 shall become the debts, liabilities and duties of the Surviving Corporation.

 

1.4           Certificate
of Incorporation; Bylaws.

 

(a)          At
the Effective Time, the Certificate of Incorporation of Sub 1, as in effect immediately prior to the Effective Time (the “Certificate
of Incorporation”), shall continue in full force and effect as the Certificate of Incorporation of the Surviving Corporation
until amended as provided by the DGCL.

 

(b)          The
Bylaws of Sub 1, as in effect immediately prior to the Effective Time, shall continue in full force and effect as the Bylaws of
the Surviving Corporation, until thereafter amended as provided by the DGCL, the Certificate of Incorporation and such Bylaws.

 

1.5           Directors
and Officers. At the Effective Time, the directors of Sub 1 immediately prior to the Effective Time shall be the directors
of the Surviving Corporation, until their respective successors are duly elected or appointed and qualified. The officers of Sub
1 immediately prior to the Effective Time shall be the officers of the Surviving Corporation, until their respective successors
are duly elected or appointed and qualified.

 

ARTICLE 2

 

CONVERSION OF SHARES

 

2.1           Effect
on Capital Stock. By virtue of the Merger and without any action on the part of Sub 1, Parent, Sub 2 or the holders of
any of Parent’s securities:

 

(a)          Sub
1 Common Stock. At the Effective Time, each share of common stock, par value $0.00001 per share, of Sub 1 (“Sub 1 Common
Stock”) issued and outstanding, if any, immediately prior to the Effective Time, other than any shares of Sub 1 Common Stock
held by Parent, shall be automatically converted into the right to receive one share of common stock, par value $0.01 per share,
of Parent (“Parent Common Stock”).

 

(b)          Delivery
of Certificates. Promptly following the Effective Time, Parent shall deliver to each person who has become entitled to receive
Parent Common Stock by virtue of the Merger, a certificate or certificates evidencing the class and number of shares of Parent
Capital Stock to which such person is entitled as provided herein, in exchange for a Letter of Transmittal in the form attached
hereto as Exhibit B.

 

(c)          Sub 2 Common
Stock. At the Effective Time, each share of common stock, par value $0.00001 per share, of Sub 2 (“Sub 2 Common Stock”)
issued and outstanding immediately prior to the Merger shall automatically be cancelled and retired and shall cease to exist and
no consideration shall be paid therefor.

 

 

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2.2           No
Further Ownership Rights in Sub 1 Common Stock. As a result of the Merger and without any action on the part of the
holders thereof, at the Effective Time, all outstanding shares of Sub 1 Common Stock (other than any shares of Sub 1 Common
Stock held by Parent) shall cease to be outstanding and shall be canceled and retired and shall cease to exist, and each
holder of a certificate which immediately prior to the Effective Time represented any such shares of Sub 1 Common Stock
(other than any shares of Sub 1 Common Stock held by Parent) shall thereafter cease to have any rights with respect to such
shares of Sub 1 Common Stock, except the rights set forth in Section 2.1 of this Agreement.

 

ARTICLE 3

 

GENERAL PROVISIONS

 

3.1           Taking
of Necessary Action; Further Action. If, at any time after the Effective Time, any further action is necessary or desirable
to carry out the purposes of this Agreement and to vest the Surviving Corporation with full right, title, interest and possession
to all assets, properties, rights, privileges, powers and franchises of Sub 2, then Sub 1 and Parent, the officers and directors
of Sub 1 and Parent are fully authorized, in the name and on behalf of Sub 2, to take all such lawful and necessary action, so
long as such action is not inconsistent with this Agreement.

 

3.2           Abandonment.
At any time prior to the Effective Time, this Agreement may be terminated and the Merger may be abandoned for any reason whatsoever
by the board of directors of either Sub 2 or Parent or both.

 

3.3           Amendment.
At any time prior to the Effective Time, this Agreement may be amended or modified by action taken by or on behalf of the respective
boards of directors of the parties hereto. This Agreement may not be amended except by an instrument in writing signed by the parties
hereto.

 

3.4           Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware.

 

3.5           Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, and
delivered by facsimile, each of which when executed shall be deemed to be an original but all of which taken together shall constitute
one and the same agreement.

 

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IN WITNESS WHEREOF, parent, Sub 1 and Sub 2 have caused this
Agreement and plan of Merger to be executed and delivered by their respective officers thereunto duly authorized as of the date
first written above.

 

	 	TARGETED GENETICS CORPORATION
	 	 	 
	 	By:	B.G. Susan Robinson
	 	Name: 	B.G. Susan Robinson
	 	Title:	President & CEO
	 	 	 
	 	SHEFFIELD ACQUISITION 1, INC.
	 	 	 
	 	By:	/s/ Jeremy Curnock Cook
	 	Name: 	Jeremy Curnock Cook
	 	Title: 	President
	 	 	 
	 	SHEFFIELD ACQUISITION 2, INC.
	 	 	 
	 	By:	/s/ Jeremy Curnock Cook 

	 	Name: 	Jeremy Curnock Cook
	 	Title: 	President

 

    	 

    	 

    

 

EXHIBIT A

 

CERTIFICATE OF MERGER

 

MERGER OF

 

SHEFFIELD ACQUISITION 2, INC., A DELAWARE
CORPORATION WITH AND INTO

 

SHEFFIELD ACQUISITION 1, INC., A DELAWARE
CORPORATION

 

Pursuant to the provisions of Section 251
of the Delaware General Corporation Law (the “DGCL”), the undersigned certifies as follows concerning the merger (the
“Merger”) of Sheffield Acquisition 2, Inc., a Delaware corporation, with and into Sheffield Acquisition 1, Inc., a
Delaware corporation (collectively, the “Constituent Corporations”), with Sheffield Acquisition 1, Inc. as the surviving
corporation (in such capacity, the “Surviving Corporation”).

 

1 An Agreement of Merger,
dated as of November 12, 2010 (the “Merger Agreement”), has been approved, adopted, certified, executed and acknowledged
by the Constituent Corporations in accordance with Section 251 of the DGCL.

 

2. The name of the Surviving Corporation
shall be Sheffield Acquisition 1, Inc., a Delaware corporation.

 

3. The Certificate of Incorporation of Sheffield
Acquisition 1, Inc. shall be the Certificate of Incorporation of the Surviving Corporation.

 

4. The executed Merger Agreement is on file
at the principal place of business of the Surviving Corporation, 1100 Olive Way, Suite 100, Seattle, WA 98101.

 

5. A copy of the Merger Agreement will be
furnished by the Surviving Corporation, on request and without cost, to any stockholder of the Constituent Corporations.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, the undersigned officer of Sheffield Acquisition
1, Inc. has signed this Certificate of Merger, as of the ____ day of ______________, 2010.

  

	 	SHEFFIELD ACQUISITION 1, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

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EXHIBIT B

 

FORM OF LETTER OF TRANSMITTAL

 

    	 

    	 

    

  

LETTER OF TRANSMITTAL

 

Dear Sheffield Acquisition 1, Inc.
Stockholder:

 

This letter tells you how to
obtain shares of common stock of Targeted Genetics Corporation (“Targeted”) for your Sheffield Acquisition
1, Inc. (“Sheffield”) common stock in connection with the merger of a wholly-owned subsidiary of Targeted
and Sheffield which was completed on __________, 2010 pursuant to the parties’ Agreement and Plan of Merger that was
previously provided to you.

 

Please take the following steps:

 

		1.	Complete and sign the section of this form entitled “Stockholder
Information.”
	 	 	 

		2.	Mail this letter, completed and signed as instructed, to Targeted Genetics Corporation, Attention:
David Poston, as indicated in the section entitled “Where To Send Completed Documents”.

 

Stockholder Information

 

Here is the information that is needed. If you
have any questions about how to fill out the form, please call David Poston of Targeted at (206) 521-7881 or e-mail him at
david.poston@targen.com.

 

Stockholder Name (please print):________________________________________________

 

Stockholder Signature:_______________________________________________________

 

Stockholder Mailing Address (this
is where your Targeted common stock will be sent):

 

	 	 
	 	 
	 	 

 

List the number of shares that
you possess (use reverse of this sheet if necessary)

 

Number of shares of common stock
of Sheffield Acquisition 1, Inc.:_______________________________

 

Where To Send Completed Documents

 

Make a copy of this Letter of Transmittal for your records,
then send the signed original by overnight delivery to the following address:

 

Targeted Genetics Corporation

1100 Olive Way, Suite 100

Seattle, WA 98101

Attention: David Poston

 

You will not receive your merger
consideration until this Letter of Transmittal has been received by Targeted.

Therefore, please return this letter of transmittal
together with your certificate(s) as instructed above as soon as possible, preferably by overnight delivery.SEVENTH AMENDMENT

TO MASTER INDENTURE

 

This SEVENTH AMENDMENT
TO MASTER INDENTURE, dated as of January 21, 2014 (this “Amendment”), is entered into between: (i) GE Capital
Credit Card Master Note Trust, a Delaware statutory trust (the “Issuer”); and (ii) Deutsche Bank Trust Company
Americas, as indenture trustee under the Master Indenture referred to below (in such capacity, the “Indenture Trustee”).

 

BACKGROUND

 

WHEREAS, the Indenture
Trustee and the Issuer are parties to the Master Indenture, dated as of September 25, 2003, as amended by the Omnibus Amendment
No. 1 to Securitization Documents, dated as of February 9, 2004, among the Indenture Trustee, the Issuer and certain other parties,
the Second Amendment to Master Indenture, dated as of June 17, 2004, between the Issuer and the Indenture Trustee, the Third Amendment
to Master Indenture, dated as of August 31, 2006, between the Issuer and the Indenture Trustee, the Fourth Amendment to Master
Indenture, dated as of June 28, 2007, between the Issuer and the Indenture Trustee, the Fifth Amendment to Master Indenture, dated
as of May 22, 2008, between the Issuer and the Indenture Trustee, and the Sixth Amendment to Master Indenture, dated as of August
7, 2009, between the Issuer and the Indenture Trustee (as amended, the “Master Indenture”);

 

WHEREAS, the parties
hereto intend to amend the Master Indenture as set forth herein; and

 

WHEREAS, this Amendment
is being entered into pursuant to Section 9.1(b) of the Master Indenture.

 

NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

AMENDMENTS

 

The parties hereto
agree as follows:

 

SECTION 1.  DEFINITIONS.
As used herein, (a) capitalized terms which are defined in the preamble hereto shall have the meanings as so defined and (b) capitalized
terms not so defined shall have the meanings set forth in the Master Indenture as amended hereby.

 

SECTION 2.  AMENDMENTS
TO MASTER INDENTURE. (a) Section 1.1 of the Master Indenture is amended by adding the following definition in appropriate alphabetical
order:

 

“Aggregate
Required Deposit Amount” means, for any Monthly Period, the sum for all Series, of the Required Deposit Amounts (as defined
for each Series in the related Indenture Supplement) for such Monthly Period.

 

    	 

    	 

    

 

(b)          Section
8.4(a) of the Master Indenture is amended and restated as follows:

 

(a)          Issuer
shall apply all funds on deposit in the Collection Account as described in this Article VIII and in each Indenture Supplement.
Except as otherwise provided in the second following paragraph and in each Indenture Supplement, Issuer shall deposit Collections
into the Collection Account no later than the second Business Day following the Date of Processing of such Collections. Collections
for any Monthly Period in excess of the Aggregate Required Deposit Amount for such Monthly Period shall not be required to be deposited
into the Collection Account and shall be paid to the holder(s) of the Transferor Interest on each Date of Processing; provided
that, notwithstanding the foregoing provision of this sentence, for any Series in an Early Amortization Period, all Finance Charge
Collections allocated to such Series on any Date of Processing during the Early Amortization Period shall be deposited into the
Collection Account no later than the second Business Day following the Date of Processing of such Collections, except as otherwise
provided in the second following paragraph; and provided, further, that if the Free Equity Amount is less than the
Minimum Free Equity Amount on any Date of Processing, the Principal Collections payable to the holder of the Transferor Interest
shall be deposited into the Excess Funding Account to the extent necessary so that the Free Equity Amount equals the Minimum Free
Equity Amount. If on any Business Day the Issuer determines that the Aggregate Required Deposit Amount for any Monthly Period exceeds
the Aggregate Required Deposit Amount as previously calculated by the Issuer because any component of the Aggregate Required Deposit
Amount was previously based on an estimate then (i) Issuer shall (on the same Business Day) inform the holder(s) of the Transferor
Interest of such determination, and (ii) within two Business Days thereafter cause the holder(s) of the Transferor Interest to
deposit into the Collection Account funds in an amount equal to the lesser of (x) the amount of Collections allocated to Noteholders
for that Monthly Period and previously distributed to the holder(s) of the Transferor Interest and (y) the amount of any shortfall
in funds on deposit in the Collection Account resulting from the use of estimated values in the calculation of the Aggregate Required
Deposit Amount. If the Aggregate Required Deposit Amount for any Monthly Period is increased after the first day of such Monthly
Period as a result of the issuance of additional Notes or the increase in any Variable Interest, unless otherwise specified in
the related Indenture Supplement, the holder(s) of the Transferor Interest shall not be required to deposit funds previously distributed
to the holder(s) of the Transferor Interest into the Collection Account to increase the amount on deposit in the Collection Account
to the higher Aggregate Required Deposit Amount. If on any Business Day the Issuer determines that the Aggregate Required Deposit
Amount for any Monthly Period is less than the Aggregate Required Deposit Amount as previously calculated by the Issuer, then the
Issuer shall within two Business Days thereafter pay to the holder(s) of the Transferor any funds on deposit in the Collection
Account in excess of the Aggregate Required Deposit Amount.

 

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Except as
otherwise required by any Indenture Supplement, an Originator may permit or require payments owed by any Retailer with respect
to in-store payments to be netted against amounts owed by that Originator to that Retailer, and the Issuer shall deposit into the
Collection Account on each Business Day an amount equal to the aggregate amount of in-store payments netted against amounts owed
by that Originator to the various Retailers on that Business Day.

 

Subject to
the express terms of any Indenture Supplement, but notwithstanding anything else in this Indenture to the contrary, if (x) for
so long as the Servicer maintains a short term debt rating of A-1 or better by S&P (if rated by S&P), P-1 or better by
Moody’s (if rated by Moody’s) and F1 or better by Fitch (if rated by Fitch), (y) with respect to Collections allocable
to any Series, any other conditions specified in the related Indenture Supplement are satisfied or (z) the Servicer has provided
to the Indenture Trustee a letter of credit, surety bond or other similar arrangement covering collection risk of Servicer and
in each case acceptable to each Rating Agency (as evidenced by a letter from each Rating Agency to the effect that the Rating Agency
Condition has been satisfied), if any, Issuer need not make the daily deposits of Collections into the Collection Account as provided
in the preceding paragraph, but may make a single deposit in the Collection Account in immediately available funds not later than
12:00 noon, New York City time, on the related Payment Date.

 

SECTION 3. EFFECTIVENESS.
This Amendment shall become effective as of the date first set forth above; provided that (i) each of the Indenture Trustee
and the Issuer shall have executed a counterpart of this Amendment, (ii) the Rating Agency Condition shall have been satisfied,
and (iii) the Issuer shall have delivered to the Indenture Trustee (x) an Officer’s Certificate to the effect that all requirements
for this Amendment contained in the Master Indenture have been met and the Issuer reasonably believes that such action will not
result in an Adverse Effect and (y) a Tax Opinion. The Issuer shall provide written notice to the Indenture Trustee upon satisfaction
of the conditions in the preceding sentence.

 

SECTION 4. BINDING
EFFECT; RATIFICATION. (a) On and after the execution and delivery hereof, (i) this Amendment shall be a part of the Master
Indenture and (ii) each reference in the Master Indenture to “this Agreement”, “this Indenture”, “hereof”,
“hereunder” or words of like import, and each reference in any other Related Document to the Master Indenture, shall
mean and be a reference to the Master Indenture as amended hereby.

 

(b)          Except
as expressly amended hereby, the Master Indenture shall remain in full force and effect and is hereby ratified and confirmed by
the parties hereto.

 

SECTION 5. NO RECOURSE.
It is expressly understood and agreed by the parties hereto that (a) this Amendment is executed and delivered by BNY Mellon Trust
of Delaware, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred
and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and
intended not as personal representations, undertakings and agreements by BNY Mellon Trust of Delaware but is made and intended
for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon
Trust of Delaware, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability,
if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d)
under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses
of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken
by the Issuer under this Amendment or any other related documents.

 

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SECTION 6. NO PETITION.
The Indenture Trustee covenants that it will not directly or indirectly institute or cause to be instituted against the Issuer
any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state
bankruptcy law unless Noteholders of not less than 662⁄3% of the Outstanding Principal Amount of each Class of each Series
has approved such filing and it will not directly or indirectly institute or cause to be institute against the Transferor any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state bankruptcy law
in any instance; provided, that the foregoing shall not in anyway limit the Noteholders’ rights to pursue any other
creditor rights or remedies that the Noteholders may have for claims against the Issuer.

 

SECTION 7. MISCELLANEOUS.
(a) THIS AMENDMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY,
AND PERFORMANCE, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF) AND
ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

(b)          Headings
used herein are for convenience of reference only and shall not affect the meaning of this Amendment.

 

(c)          This
Amendment may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which shall
be an original and all of which taken together shall constitute one and the same agreement. Executed counterparts may be delivered
electronically.

 

*    *   *   *   *   *

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

	 	
        GE CAPITAL CREDIT CARD MASTER NOTE

        TRUST,

	 	as Issuer
	 	 	 
	 	By:	BNY mellon trust of delaware,
	 	 	not in its individual capacity, but solely as
	 	 	Trustee on behalf of the Issuer
	 	 	 
	 	By:	/s/ Kristine K. Gullo
	 	Name:	Kristine K. Gullo
	 	Title:	Vice President

 

    	 	S-1	Seventh
                                         Amendment to Master Indenture

    	 

    

 

	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	 	not in its individual capacity,
	 	but solely as the Indenture Trustee
	 	 
	 	By:	/s/ Louis Bodi
	 	Name:	Louis Bodi
	 	Title:	Vice President
	 	 
	 	By:	/s Mark Esposito
	 	Name:	Mark Esposito
	 	Title:	Assistant Vice President

 

    	 	S-2	Seventh
                                         Amendment to Master Indenture

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