Document:

EX-4.4

 Exhibit 4.4 

EIGHTH SUPPLEMENTAL INDENTURE 

EIGHTH SUPPLEMENTAL INDENTURE (this “Eighth Supplemental Indenture”), dated as of January 29, 2021,
among Peabody Energy Corporation, a Delaware corporation (the “Company”), and Wilmington Trust, National Association, as trustee under the Indenture referred to below (the “Trustee”). Capitalized terms
used herein without definition shall have the meanings assigned to them in the Indenture. 
 W I T N E S S E T H 

WHEREAS, the Company and the Trustee are party to an indenture, dated as of February 15, 2017 (as amended, supplemented or otherwise
modified to the date hereof, the “Indenture”), providing for the issuance of 6.000% Senior Secured Notes due 2022 (the “2022 Notes”) and 6.375% Senior Secured Notes due 2025 (the
“2025 Notes”); 
 WHEREAS, on December 24, 2020, the Company commenced (a) an offer
to acquire by exchange (the “Exchange Offer”) any and all of the outstanding 2022 Notes for (i) new 10.000% Senior Secured Notes due 2024 to be co-issued by PIC AU Holdings LLC, a
Delaware limited liability company and an indirect wholly-owned subsidiary of the Company, and PIC AU Holdings Corporation, a Delaware corporation and an indirect wholly-owned subsidiary of the Company, and (ii) new 8.500% Senior Secured Notes
due 2024 to be issued by the Company (the “2024 Notes”), and (b) a related consent solicitation (the “Consent Solicitation”) from each Holder of the 2022 Notes, upon the terms and subject to the
conditions set forth in the Confidential Offering Memorandum and Consent Solicitation Statement, dated December 24, 2020, as supplemented by Supplement No. 1 thereto, dated December 31, 2020; 

WHEREAS, on January 8, 2021, following receipt of the requisite consents from the Holders of the 2022 Notes pursuant to the Consent
Solicitation, the Company and the Trustee entered into the Seventh Supplemental Indenture, which Seventh Supplemental Indenture reflects certain amendments to the Indenture that (i) eliminate substantially all of the restrictive covenants,
certain events of default applicable to the 2022 Notes and certain other provisions contained in the Indenture with respect to the 2022 Notes, and (ii) release the Collateral securing the 2022 Notes and eliminate certain other related
provisions contained in the Indenture with respect to the 2022 Notes, each as specified in the Seventh Supplemental Indenture; 
 WHEREAS,
on January 29, 2021, in connection with the consummation of the Exchange Offer and the Consent Solicitation, the Company and certain guarantors have entered into an indenture with Wilmington Trust, National Association, as trustee thereunder,
providing for the issuance of $195,142,000 aggregate principal amount of 2024 Notes; 
 WHEREAS, in connection with the consummation of the
Exchange Offer and the Consent Solicitation, (a) certain revolving commitments under the Credit Agreement, dated April 3, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit
Agreement”), among the Company, as borrower, JPMorgan Chase Bank, N.A., as administrative agent (as successor to Goldman Sachs Bank USA in its capacity as administrative agent), and other lenders party thereto, have been converted into
a letter of credit facility pursuant to the Credit Agreement, dated January 29, 2021 (as amended, restated, amended and 

 
restated, supplemented or otherwise modified, the “L/C Agreement”), among the Company, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and other lenders
party thereto, and (b) the Credit Agreement has been amended (the “Credit Agreement Amendment”) to permit certain other transactions contemplated in connection with the Exchange Offer and the Consent Solicitation; 

WHEREAS, pursuant to Section 9.01(a)(8) of the Indenture, the Company, the Trustee and the Collateral Trustee, as applicable, may amend
or supplement the Indenture, the Notes and the other Note Documents without notice to or the consent of any Holder of a Note to make, complete or confirm any grant of Collateral permitted or required by any of the Note Documents; 

WHEREAS, in connection with the consummation of the Exchange Offer and the Consent Solicitation, and the Company’s entry into the L/C
Agreement and the Credit Agreement Amendment, the Company desires to add additional Collateral in favor of the 2025 Notes (the “Collateral Increase”), such that the Holders of the 2025 Notes, as holders of Priority Lien
Obligations along with the holders of other Priority Lien Obligations under the 2024 Notes, the Credit Agreement and the L/C Agreement, will have the benefit of a valid and enforceable perfected Lien on all the Collateral in favor of the Collateral
Trustee for the Holders of the 2025 Notes and holders of such other Priority Lien Obligations, to the extent required by, and with the Lien priority required under, the Secured Debt Documents; 

WHEREAS, pursuant to Section 9.01(a)(8) of the Indenture, the Trustee is authorized to execute and deliver this Eighth Supplemental
Indenture with respect to the 2025 Notes; 
 WHEREAS, pursuant to Sections 7.02, 9.05, 13.02 and 13.03 of the Indenture, an Officer’s
Certificate and an Opinion of Counsel have been delivered to the Trustee, each stating that this Eighth Supplemental Indenture is authorized or permitted by the Indenture, the Collateral Trust Agreement and the other Note Documents, and that all
conditions precedent provided for in the Indenture to the execution and delivery of this Eighth Supplemental Indenture have been satisfied; 

WHEREAS, the Company has been authorized by a resolution adopted by its Board of Directors to enter into this Eighth Supplemental Indenture
with respect to the 2025 Notes; and 
 WHEREAS, all other acts and proceedings required by law, the Indenture and the Fourth Amended and
Restated Certificate of Incorporation and Amended and Restated By-Laws of the Company to execute and deliver this Eighth Supplemental Indenture with respect to the 2025 Notes, in accordance with its terms,
have been duly done and performed; 
 NOW, THEREFORE, concurrent with the settlement of the Exchange Offer and the consummation of the
Exchange Offer and the Consent Solicitation, in consideration of the premises and the covenants and agreements contained herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, and for the equal and
proportionate benefit of the Holders of the 2025 Notes, the Company and the Trustee hereby agree as follows: 

Section 1. Amendments to the Indenture. 

  
 2 

 (a) Solely with respect to the 2025 Notes, Section 2 of the definition of
“Excluded Assets” is amended and restated in its entirety, from and after the date hereof, as follows, with additions shown in bold, underlined text and deletions shown in strikethrough: 

“(2) commercial tort claims where the amount of the net proceeds claimed is less than $10.0 million;” 

(b) Solely with respect to the 2025 Notes, Section 3 of the definition of “Excluded Assets” is amended and restated in
its entirety, from and after the date hereof, as follows, with additions shown in bold, underlined text and deletions shown in strikethrough: 

“(3) (i) any lease, license or other written agreement or written obligation (each, a “Contract”) and any leased or licensed
asset under a Contract or asset financed pursuant to a purchase money financing Contract or Capital Lease Obligation, in each case that is the direct subject of such Contract (so long as such Contract is not entered into for purposes of
circumventing or avoiding the collateral requirements of this Indenture), in each case only for so long as the granting of a security interest therein (x) would be prohibited by, cause a default under or result in a breach of such Contract
(unless the Company or any Controlled Subsidiary may unilaterally waive it) or would give another Person (other than the Company or any Controlled Subsidiary) a right to terminate or accelerate the obligations under such Contract or to obtain a Lien
to secure obligations owing to such Person (other than the Company or any Controlled Subsidiary) under such Contract (in each case, except to the extent any such prohibition is unenforceable after giving effect to applicable anti-assignment
provisions of the UCC or other applicable law) or (y) would require obtaining the consent of any Person (other than the Company or any Controlled Subsidiary) or applicable Governmental Authority, except to the extent that such consent has
already been obtained (but with respect to any leasehold interest that is Material Real Property, only to extent the applicable Grantor could not obtain the required third party consent after using commercially reasonable efforts to obtain
such consent (x) with respect to interests held on the Eighth Amendment Effective Date, for 90 days after the Eighth Amendment Effective Date or (y) with respect to interests acquired
after the Eighth Amendment Effective Date, for 90 days after the acquisition thereof); provided that there shall be no requirement to pay any sums to the applicable lessor other than customary legal fees and administrative expenses (it is
understood, for avoidance of doubt, that, without limiting the foregoing obligations of the Company set forth in this clause, any failure to grant a security interest in any such leasehold interest as a result of a failure to obtain a consent shall
not be a Default hereunder, and, for avoidance of doubt, the Company and its Restricted Subsidiaries shall no longer be required to use commercially reasonable efforts to obtain any such consent after such above-mentioned time period to obtain a
consent has elapsed) or such consent is unenforceable or overridden after giving effect to applicable anti-assignment provisions of the UCC or other applicable law or (ii) any asset the granting of a security interest therein in favor
of the Secured Parties would be prohibited by any applicable law (other than any organizational document) (except to the extent such prohibition is unenforceable or overriden after giving effect to applicable anti-assignment provisions of the UCC or
other applicable law, and in each case in respect of clause (i) 

  
 3 

 
and (ii) above,, other than proceeds thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibitions),” 

(c) Solely with respect to the 2025 Notes, Section 9 of the definition of “Excluded Assets” is amended and restated in
its entirety, from and after the date hereof, as follows, with additions shown in bold, underlined text and deletions shown in strikethrough: 

“(9) (i) any Equity Interest that is Voting Stock of a first-tier Foreign Subsidiary that or a Foreign Subsidiary Holdco in excess
of 65% of the Voting Stock of such Subsidiary, [reserved] (ii) if the Company determines in good faith that a pledge to the Priority Collateral Trustee for the benefit of the Secured Parties of 100% of the
Voting Stock of Peabody Investments (Gibraltar) Limited (or any successor thereto) could reasonably result in a material tax liability to the Company or its Subsidiaries, the amount of Voting Stock of such Subsidiary in excess of 65% of such Voting
Stock such that there is no such material tax liability, provided that any such Voting Stock is acknowledged as an “Excluded Asset” under the Company’s credit agreement entered into as of January 29,
2021, (iiiii) any Equity Interests in the Gibraltar Pledgor, Peabody International Investments, Inc., and each other Subsidiary, whether now owned or hereafter acquired, substantially all of the assets of which
consists of Equity Interests in the Gibraltar Pledgor and any successor to any of the foregoing, (iiiiv) any Equity Interests of captive insurance subsidiaries and not-for-profit subsidiaries, (ivv) any Equity Interests in, or assets of, any Securitization Subsidiary (to the extent a pledge of the Equity Interests in such Securitization
Subsidiary is prohibited under any Permitted Receivables Financing entered into by such Securitization Subsidiary), (vvi) margin stock and (vivii) any Equity Interests in any Subsidiary
that is not wholly-owned by the Company or any Restricted Subsidiary or in a Joint Venture, if the granting of a security interest therein (A) would be prohibited by, cause a default under or result in a breach of, or would give another Person
(other than the Company or any Controlled Subsidiary) a right to terminate, under any organizational document, shareholders, joint venture or similar agreement applicable to such Subsidiary or Joint Venture or (B) would require obtaining the
consent of any Person (other than the Company or any Controlled Subsidiary), in each case in respect of sub-clauses (A) and (B) of this
Section 9, after giving effect to applicable anti-assignment provisions in the UCC or other applicable law; provided that 65% of the voting Equity Interests and 100% of the non-voting Equity Interests
in Peabody Investments (Gibraltar) Limited shall not constitute Excluded Assets;” 
 (d) Solely with respect to the 2025 Notes,
the definition of “Eighth Amendment Effective Date” is added, from and after the date hereof, as follows: 
 “Eighth
Amendment Effective Date” means January 29, 2021. 
 (e) Solely with respect to the 2025 Notes, the definition of
“Material Real Property” is amended and restated in its entirety, from and after the date hereof, as follows, with additions shown in bold, underlined text and deletions shown in strikethrough: 

  
 4 

 “Material Real Property” means (a) any fee owned
real property Real Property interest held by the Company or any of its Restricted Subsidiaries in an active Mine or any leasehold interest in real property Real Property of the Company or
any of its Restricted Subsidiaries in an active Mine, (b) any real property Real Property owned by the Company or any of its Restricted Subsidiaries or in which the Company or any of its Restricted Subsidiaries
has a leasehold interest located on a Reserve Area on the Issue Date that has a net book value in excess of $10.0 million (c) any real property
acquired or otherwise owned by the Company or any of its Restricted Subsidiaries or in which the Company or any of its Restricted Subsidiaries acquires a leasehold interest after the Issue Date located on a Reserve Area that has a total net book
value in excess of $25.0 million and (d) any other fee owned real property $2,500,000, and (c) any other parcel of owned
Real Property interest held by the Company or any of its Restricted Subsidiaries (other than the types of property described in clauses (a) throughand (cb) above) with a
total net book value in excess of $10.0million2,500,000 as of the date of acquisition of such real property Real Property; provided that Material Real Property shall not include (x) any
real property Real Property disclosed to the Trustee prior to the Release Date as a property intended to be sold following the Release Date or (y) any leasehold interests of the Company or any of its Restricted
Subsidiaries in commercial real property Real Property constituting offices of the Company and its Subsidiaries; provided further that, any future coal reserve or access to a coal reserve (1) that is fee
owned by the Company or any of its Restricted Subsidiaries or in which the Company or any of its Restricted Subsidiaries has a leasehold interest and (2) that is located adjacent to, contiguous with, or in close proximity to, both
geographically and geologically (according to reasonable standards used in the mining industry) an active Mine or Reserve Area, may, in the reasonable discretion of the administrative agent under the New Credit Facility (in consultation with the
Company), be deemed part of an active Mine or Reserve Area and, as a result, a “Material Real Property” in the future. For purposes of this definition of “Material Real Property,” net book value shall be based on aggregated
net book value of tracts that are located adjacent to, contiguous with or in close proximity, both geographically and geologically (according to reasonable standards used in the mining industry), with each other. 

(f) The amendments in paragraphs (a), (b), (c), (d) and (e) of this Section 1 apply only as to the 2025 Notes and not as to the 2022
Notes. 
 Section 2: Creation and Perfection of Certain Security Interests After the Settlement Date 

In connection with the Collateral Increase, the Company and the Guarantors agree to do or cause to be done all acts and things that may be
required to have all security interests pertaining to the Collateral Increase duly created and enforceable and perfected, to the extent required by the existing security documents, but in no event later than 90 days after January 29, 2021, the
settlement date of the Exchange Offer (or such later date as may be agreed to in accordance with that certain Amended and Restated Transaction Support Agreement, dated as of December 31, 2020, by and among, among others, the Company, the Co-Issuers, and the Consenting Noteholders defined therein, as amended, modified or replaced from time to time, as certified to the Trustee by the Company in an Officer’s Certificate). Further, the Company and

  
 5 

 
the Guarantors agree to use commercially reasonable efforts to obtain any required consents needed in connection with the Collateral Increase no later than 180 days after January 29, 2021.

 Section 3. Effect and Operation of Eighth Supplemental Indenture. 

This Eighth Supplemental Indenture shall be effective and binding immediately upon its execution and thereupon this Eighth Supplemental
Indenture shall form a part of the Indenture for all purposes with respect to the 2025 Notes, and every Holder of a 2025 Note heretofore or hereafter authenticated and delivered under the Indenture shall be bound hereby. 

Section 4. Reference to and Effect on the Indenture. 

(a) On and after the effective date of this Eighth Supplemental Indenture, each reference in the Indenture to “this Indenture,”
“hereunder,” “hereof,” or “herein” shall mean and be a reference to the Indenture as supplemented by this Eighth Supplemental Indenture unless the context otherwise requires, and every Holder of a 2025 Note heretofore
or hereafter authenticated and delivered shall be bound hereby. 
 (b) Except as specifically amended above, the Indenture shall remain in
full force and effect and is hereby ratified and confirmed. 
 Section 5. Construction. 

Except as otherwise herein expressly provided or unless the context otherwise requires, the rules of construction set forth in
Section 1.03 of the Indenture shall apply to this Eighth Supplemental Indenture mutatis mutandis. 

Section 6. Governing Law. 

THIS EIGHTH SUPPLEMENTAL INDENTURE AND THE 2025 NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
 Section 7. Trustee Disclaimer. 

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Eighth Supplemental
Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Company. In acting pursuant to the terms of this Eighth Supplemental Indenture, the Trustee shall be entitled to all of the rights, privileges and
immunities of the Trustee set forth in the Indenture, the Collateral Trust Agreement and the other Note Documents, as though fully set forth herein. 

Section 8. Counterparts and Method of Execution.  

The parties may sign multiple counterparts of this Eighth Supplemental Indenture. Each signed counterpart shall be deemed an original, but all
of them together represent one and the same agreement. The exchange of copies of this Eighth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this

  
 6 

 
instrument as to the parties hereto and may be used in lieu of the original instrument for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes. 
 Section 9. Headings.  

The headings of this Eighth Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part
hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 10. Separability.

 Each provision of this Eighth Supplemental Indenture shall be considered separable and if for any reason any provision which is not
essential to the effectuation of the basic purpose of this Eighth Supplemental Indenture or the 2025 Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 Section 11. Successors. 

All agreements of each of the Company in this Eighth Supplemental Indenture and the 2025 Notes shall bind their respective successors. All
agreements of the Trustee and the Company in this Eighth Supplemental Indenture shall bind their respective successors and permitted assigns. 

Section 12. Collateral Trustee. 

The Collateral Trustee is an express third party beneficiary of this Eighth Supplemental Indenture. In acting pursuant to the terms of this
Eighth Supplemental Indenture, the Collateral Trustee shall be entitled to all of the rights, privileges and immunities of the Collateral Trustee set forth in the Indenture, the Collateral Trust Agreement and the other Note Documents, as though
fully set forth herein. Notwithstanding anything to the contrary herein, the rights, privileges and immunities of the Collateral Trustee set forth in the Indenture, the Collateral Trust Agreement and the other Note Documents shall survive the
effectiveness and operation of this Eighth Supplemental Indenture. 
 [Signatures are on the following pages.] 

  
 7 

 IN WITNESS HEREOF, the parties hereto have caused this Eighth Supplemental Indenture to be
duly executed and attested, all as of the date first above written. 
  

			
	PEABODY ENERGY CORPORATION
		
	By:	 	 /s/ James A. Tichenor

	Name: James A. Tichenor
	Title:   Vice President and Treasurer

 [Signature Page to Eighth Supplemental Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Sarah Vilhauer

		 	Name: Sarah Vilhauer
		 	Title:   Banking Officer

 [Signature Page to Eighth Supplemental Indenture]Exhibit 10.1
​
[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT
November 30th, 2020
​
​
THIS AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT (the
“Amended and Restated Agreement”) dated as of November 30th, 2020 (the “Effective Date”), is made and entered into by and between Longwood University (“Longwood”) having a place of business at 201 High Street, Farmville, VA 23909 and Kiromic Biopharma, Inc. (the “Company”),   a Delaware corporation, with its principal place of business located at 7707 Fannin St, Suite 140, Houston, TX 77054. Longwood and the Company shall be individually referred to as a “Party” and collectively referred to as “Parties” in this Agreement.
​
RECITALS
​
WHEREAS, under research programs funded by Longwood through research conducted by Dr. Amorette Barber, who has developed an invention pertaining to "T-cells expressing a chimeric- PD1- CD3zeta receptor reduce tumor burden in multiple murine syngeneic models of solid cancer" which is described and claimed in PCT/US2018/052799 and International publication number WO 2019/067504 as noted in Appendix A. The Company desires to acquire an exclusive license in the License Field to commercially develop and use the Technology covered by Patent Rights. Patent Rights shall mean the Valid Claims of the Patents (described in Appendix A) to the extent that Longwood is legally entitled to grant such rights. Longwood is willing to grant the Company the exclusive global license under the Patent Rights and the Know-How subject to the terms and conditions below;
​
WHEREAS, Longwood and the Company have previously entered into an Exclusive License Agreement, dated as of March 25, 2020 (the "Original License Agreement"); and
​
WHEREAS, Longwood and the Company desire to amend and restate the Original License Agreement in its entirety, on the terms and conditions hereinafter set forth. THIS AMENDED AND RESTATED AGREEMENT REPLACES AND SUPERSEDES THE ORIGINAL LICENSE AGREEMENT ENTERED BETWEEN THE PARTIES ON MARCH 25, 2020.
​
NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Original License Agreement as follows:
​
​
		1.	GRANT AND SCOPE OF LICENSE

​
		1.1	“Product” shall mean any article, device or composition, the manufacture, method, use, or sale of which, in whole or in part, absent the license granted hereunder would infringe, or is covered by, one or more claims of Patent Rights.	

​
		1.2	“IP Rights”, “Technology”, or “Longwood IP” shall mean Longwood’s rights in the Patent Applications listed in Appendix A and/or the equivalent of such application including any division, continuation (but not including continuation-in-part) and/or any foreign patent application and/or Letters Patent, and/or the equivalent thereof issuing thereon, and/or reissue, reexamination and/or extension thereof and all associated knowhow.	

​

-1-

​

Exhibit 10.1
​
[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		1.3	“License Field” shall mean all uses of Products for the treatment of Oncology, Autoimmune Diseases, Infectious Diseases, and/or Inflammatory Diseases in humans and/or animals.	

​
		1.4	Longwood hereby grants to the Company a worldwide, exclusive, royalty bearing license under Longwood's Patent Rights to research, develop, make, have made, use, have used, import, sell, have sold and otherwise commercialize and exploit any Longwood's rights in PCT/US2018/052799. The grant is binding and confidential at time of signature.	

​
		1.5	Longwood hereby grants the Company a right of first refusal (“ROFR”) to purchase all the	

assets under the Longwood IP.   If Longwood receives a bona fide offer to purchase the Longwood IP it will notify the Company of the offer and the Company may exercise the ROFR by providing written notice of its decision to match the offer and to exercise the ROFR to Longwood. Promptly, but no more than ten (10) business days, after it has provided such notice to Longwood, Longwood shall deliver to the Company all documents reasonably required by Longwood to assign and transfer all the assets under the Longwood IP and, for any Technology that is not Longwood IP and is instead licensed to Longwood, Longwood shall, assign such licenses to the Company where the foregoing is permitted under the terms of such license. This ROFR will expire five (5) years starting from the effective date of the signing of this Agreement.
​
​
		2.	PATENT COSTS

​
		2.1	The Company has paid, and Longwood has received a non-refundable Agreement Fee of Fifteen Thousand Dollars ($15,000).	

​
		2.2	The Company has reimbursed Longwood Thirty-Seven Thousand Four Hundred Dollars ($37,400) for the estimated fees associated with the filing of the following eight (8) patent applications based on PCT/US2018/052799, and Longwood has made the filings of the following eight patent applications and has copied Company on such filings. The filings are as follows:	

​
		(1)	Australia Application *

		(2)	Canada Application *

		(3)	China Application *

		(4)	Europe Application *

		(5)	India Application *

		(6)	Japan Application *

		(7)	Mexico Application *

(8)US Application *

Payments for Country Patent Fees:
	$*
	Australia Patent costs

	$*
	Canada Patent costs

	$*
	China Patent costs

	$*
	Europe Patent costs

​

-2-

​

Exhibit 10.1
​
[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

	$*
	India Patent costs

	$*
	Japan Patent costs

	$*
	Mexico Patent costs

	$*
	US Patent costs

	$*
	TOTAL

​
All unused funds will be reimbursed. As of November 30, 2020, the estimated unused funds is expected to be approximately $4,000.

		2.3	Company agrees to pay to Longwood Ten Thousand Dollars ($10,000) annual license fee beginning on the first anniversary of the License effective date until the termination of the Agreement or upon the execution of ROFR.	

​
		2.4	Company shall pay Longwood, within thirty (30) days of receipt thereof, * percent (*%) of any and all non-royalty income attributable to the Product including without limitation any payment for the sublicensing of any license granted hereunder, or distribution of any Product, including but not limited to up-front license fees, license issue fees, maintenance fees, payments for distribution rights.	

​

		2.5	Company agrees to pay to Longwood the following royalty on net sales (including, without limitation, imputed fair market value of transfers) by the Company, its affiliates and sublicensees of Products covered by Patent Rights:	

​
	Sales
	Percentages*

	Aggregate net sales up to and equal to $500 million
	* Percent (*%)

	Aggregate net sales greater than $500 million and up to and equal to $1 billion
	* (*%)

	Aggregate net sales greater than $1 billion
	* Percent (*%)

* Subject to offsets for royalty paid to third parties
​
The royalty shall be paid ten (10) years from commencement of sales on a country-by- country basis or expiration of last patent, whichever is later.
​

		2.6	The following milestone payments will be paid by the Company to Longwood within sixty

(60) days upon successfully achieving each milestone event given below for the Licensed Products:
​
	Event
	Amount of Payment

	After dosing of 1st patient in Phase I trial
	$*

	After dosing of 1st patient in Phase II trial or pivotal/registration trial
	$*

	After dosing of 1st patient in Phase III trial
	$*

	After FDA approval for a Product
	$*

	First commercial sale for a Product
	$*

​
		2.7	Company will have the first right to prepare, file, prosecute, or otherwise handle the rights to the Longwood IP with prior advice and comment from Longwood. In the event that the Longwood decides to abandon certain Longwood IP or any Market Authorization License (“Abandoned IP”), Longwood shall so inform the Company no less than sixty (60) days 	

-3-

Exhibit 10.1
​
[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

			prior to knowingly taking the action or knowingly failing to act, which would cause such abandonment of rights. Should Company choose to continue the prosecution or maintenance of all or a part of said Abandoned IP, Company may choose to pay the cost of such activity and if so, Longwood shall take all commercially reasonable steps to convey such Abandoned IP to the Company in the specific jurisdiction where Company has secured or maintained the proprietary nature of such Abandoned IP.	

​
		2.8	Longwood has provided the Company with a spreadsheet showing the status of each of the applications referenced in Section 2.2 and will instruct foreign counsel in each of the foreign countries to correspond directly with the Company or its designated attorneys on prosecution of the respective application subject only to providing Longwood with copies of such communications. Longwood will permit Company to use counsel of its own choosing for the US application and will execute change of address papers for the United States Patent and Trademark Office (the “USPTO”) to direct correspondence the chosen counsel. The Company’s chosen counsel will provide Longwood with copies of all correspondence with the USPTO and with foreign counsel during prosecution of the respective applications.	

​
​
​
		3.	ADDITIONAL LICENSE TERMS

​
​
		3.1	If the technology covered by Patent Rights was invented at least in part with federal funding, Company's license would also be subject to the rights, conditions and limitations imposed by	

U.S. law including without limitation the royalty-free non-exclusive license granted to the
U.S. government (see 35 U.S.C. § 202 et seq. and regulations pertaining thereto) and any relevant regulations and guidelines, including the NIH Policy and Guidelines for Research Tools (64 Fed. Reg. 28205).
​
		3.2	If the covered technology is improved by Longwood, such "Improvements" shall mean any IP or know-how that is either developed, discovered, or applied as a result of utilizing, implementing, or incorporating the licensed technology of which the new IP will be included in the Agreement under the same terms and conditions as PCT/US2018/052799 with no additional charges to the Company. If the covered technology is improved by the Company, the technology remains and is owned by the Company. If the improvement is done at Longwood and is funded by the Company, such "Improvements" shall be owned by the Company only and is solely the Company’s IP (these shall mean any IP or know-how that is either developed, discovered, or applied as a result of utilizing, implementing, or incorporating the licensed technology of which the new IP will be included in the Agreement under the same terms and conditions as PCT/US2018/052799 with no additional charges to the Company).	

​
		3.3	Company controls prosecution and maintenance of the Patent Rights, and Company will be advised by Longwood of all related filings and/or prosecutions made related to licensed IP.	

​
		3.4	Company shall have the first right, at its sole discretion, to prosecute infringers of the Patent Rights in the License Field in the License Territory; Longwood has the second right. All settlements require written prior approval of Longwood and the Company. All damages go first to compensating parties for expenses incurred. Damages should be shared equally only if 	

-4-

Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

			Longwood joins and shares expenses.	

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3.5Company shall use commercially reasonable efforts to develop and commercialize Products, including, but not limited to: Within 12 months of the effective date of the License and annually thereafter, submission of a research and development plan and clinical study strategy to Longwood (the “Development Plan”) with annual updates to follow the initial Development Plan submission to Longwood.
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Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

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		4.	NOTICES

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4.1 Any notice or other communication required under or pertaining to this Agreement shall be given by prepaid, first class, registered or certified mail (return receipt requested) or by an express/overnight delivery service provided by a commercial carrier, properly addressed to the other party, as follows:
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	In the case of Longwood:
	In the case of Kiromic:

	Roger A. Byrne, Ph.D. Professor of Biology
	Maurizio Chiriva Internati, DBSc, PhD Chief Executive Officer

	Dean, Cook-Cole College of Arts and Sciences Longwood University
201 High Street, Farmville, VA 23909 (434) 395-2054
	Kiromic Biopharma, Inc. 7707 Fannin St, Suite 140
Houston, TX 77054
(806) 549-9087

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Notices and payments shall be considered timely if such notices are received on or before the established deadline date or sent on or before the deadline date as verifiable by legibly dated U.S. Postal Service postmark or dated receipt from a commercial carrier. Either party may change its address under this Section by providing notice as set forth herein.
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		5.	PROMOTIONAL ACTIVITIES

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		5.1	Neither party shall use the name of the other party or of any trustee, director, officer, staff member, employee, student or agent of the other party or any adaptation thereof in any advertising, promotional or sales literature, publicity or in any document employed to obtain funds or financing without the prior written approval of the party or individual whose name is to be used. For Longwood, such approval shall be obtained from Longwood's Chief Public Affairs Officer.	

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		6.	TERMINATION

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		6.1	Company shall have the right to terminate this Agreement upon thirty (30) days advance written notice of termination to Longwood. If the Company terminates or seeks to terminate this Agreement on any grounds, then all the rights and Longwood's obligations hereunder will cease and Longwood shall be free to license Patent Rights within or outside of the License Field to any other party.	

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		6.2	If Company fails to faithfully perform any of its obligations under this Agreement, including but not limited to payment of Patent Costs as provided in Section 2.2 and Diligence Requirements as described in Article 4, Longwood may give written notice of default to Company. If Company fails to cure such breach within one hundred and eighty (180) calendar days of default notice from Longwood, the ELA granted to Company under this Agreement will automatically terminate, and Longwood shall have no further obligations hereunder.	

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Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		6.3	Upon expiration, or terminate on if applicable, of this Agreement, (i) all unreimbursed Patent Costs incurred as of the termination or expiration date, as applicable, shall become immediately due and payable to Longwood, and (ii) all obligations of the parties shall cease, except those that expressly survive termination or expiration of this Agreement.	

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		7.	DISCLAIMER

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		7.1	LONGWOOD MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND CONCERNING THE PATENT RIGHTS ANO THE RIGHTS GRANTEO HEREUNDER, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, VALIOITY OF PATENT RIGHTS, OR THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, AND HEREBY DISCLAIMS THE SAME. SPECIFICALLY, ANO NOT TO LIMIT THE FOREGOING, LONGWOOO MAKES NO WARRANTY OR REPRESENTATION (i) REGARDING THE VALIDITY OR SCOPE OF ANY OF THE CLAIM(S), WHETHER ISSUED OR PENDING, OF ANY OF THE PATENT RIGHTS, AND	

(ii) THAT THE EXPLOITATION OF THE PATENT RIGHTS OR ANY PRODUCT WILL NOT INFRINGE ANY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF LONGWOOD OR OF ANY THIRD PARTY.
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		8.	MISCELLANEOUS

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8.1Longwood shall provide copies for review and approval by the Company of all prior agreement(s) between Longwood and any company, university, or firm that may impact the freedom to operate rights of the Company related to this agreement. Longwood will also provide copies of all intellectual property (IP) documents including any agreements between Longwood and any company, university, or firm related to Longwood IP.
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8.2The Parties shall not compete in the Field commercially on the licensed technology or their mechanism of action, however, Longwood shall have freedom to use the technology for education and research purposes.
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8.3If there is any Longwood-owned IP that is relevant to the Company’s freedom to operate regarding the licensed technology, the Company should be given rights without additional charges to this IP.
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8.4“Confidential Information” shall mean all non-public written, visual, oral and electronic data and information disclosed by one Party (“Discloser”) to the other Party (“Recipient”) under this Agreement that relates to the Discloser’s business, technology, products, processes, techniques, research, development and marketing and is marked as confidential or proprietary or disclosed under circumstances reasonably indicating that it is confidential or proprietary. All Confidential Information (including without limitation all copies, extracts and portions thereof) shall remain the property of Discloser. Except as expressly agreed otherwise by the Parties, Recipient does not acquire any IP rights under any disclosure hereunder except the limited right to use such Confidential Information in accordance with this Agreement. Recipient shall hold all Confidential Information of Discloser in strict confidence and shall not disclose any such Confidential Information to any Third Party except as expressly provided in this Section. Recipient may disclose the Confidential Information of Discloser only to regulatory authorities and employees, agents, contractors, affiliates and actual and potential sublicensees, in all such cases who have a reason to know such information for purposes of Recipient’s performance of its obligations or exercise of its
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Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

rights under this Agreement and (except with respect to regulatory authorities) who are bound in writing by restrictions regarding disclosure and use at least as protective of Discloser as the terms and conditions in this Agreement. Recipient shall not use any Confidential Information of Discloser for the benefit of itself or any third party or for any purpose other than to perform its obligations and exercise its rights under this Agreement. Recipient shall take at least the same degree of care that it uses to protect its own confidential and proprietary information and materials of similar nature and importance (but in no event less than reasonable care) to protect the confidentiality and avoid the unauthorized use, disclosure, publication, or dissemination of the Confidential Information of Discloser.
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		8.5	All references in this Agreement to “$” or “dollars” are to U.S. dollars.

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8.6This Agreement constitutes the entire understanding of the parties with respect to the subject matter hereof, superseding and merging any prior oral or written understandings between
the parties. This Agreement may be modified or amended only in a writing signed by duly authorized representatives of both parties hereto. Company shall not assign this Agreement without the prior written consent of Longwood. If any part of this Agreement is adjudged to  be invalid or unenforceable, the parties intend that such invalidity shall not affect any other provision hereof. Any waiver or failure of either party to assert a right hereunder shall not constitute a waiver or excuse a similar failure in any other circumstance. This Agreement shall be governed by and construed in accordance with the laws of Virginia and each party consents to the exclusive jurisdiction and venue of courts in Richmond, VA, U.S.A. in all disputes relating to this Agreement. Headings in this Agreement are for convenience only and are not intended to be used to interpret or construe this Agreement.
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The remainder of this page is intentionally left blank.
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Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

IN WITNESS W HERE OF, the parties hereto have caused this Agreement to be executed and delivered by their duly authorized representatives as of the Effective Date hereof.
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LONGWOOD UNIVERSITYKIROMIC BIOPHARMA, INC.
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By: /s/ Larissa M. Smith​ ​By:  /s/ Maurizio Chiriva Internati​ ​
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Title: Provost and VP for Academic AffairsTitle:  Chief Executive Officer
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Name: Larissa M. Smith​ ​Name: Maurizio Chiriva Internati, DBSc, PhD
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Date: 11/30/20​ ​Date:    12/2/20​ ​
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Exhibit 10.1
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[*] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

APPENDIX A
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***

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