Document:

EXHIBIT 10.1

 

AMENDMENT NO. 1 TO

ASSET PURCHASE AGREEMENT
AND PLAN OF REORGANIZATION

 

THIS AMENDMENT NO. 1 TO THE ASSET PURCHASE
AGREEMENT AND PLAN OF REORGANIZATION, dated as of February 19, 2013 (this “Amendment No. 1”), among Armada Oil,
Inc., a corporation organized under the laws of the State of Nevada (“Armada”), Mesa Energy Holdings, Inc.,
a corporation organized under the laws of the State of Delaware (“Mesa”) and Mesa Energy, Inc., a corporation
organized under the laws of the State of Nevada and a direct wholly-owned subsidiary of Mesa (“Mesa Sub”). Each
of Armada, Mesa and Mesa Sub are sometimes referred to herein individually as a “Party” and collectively as
the “Parties.”

 

W I T N E S S E T H:

 

WHEREAS, the Parties have entered
into an Asset Purchase Agreement and Plan of Reorganization dated as of November 14, 2012 (the “Asset Purchase Agreement”);

 

WHEREAS, the Parties desire to amend
the Asset Purchase Agreement to modify provisions of Sections 6.12, 6.13, 7.1(b), 8.1(b) and 8.1(d) on the terms and conditions
set forth in this Amendment No. 1.

 

NOW, THEREFORE,
in consideration of the mutual agreements contained herein, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Parties hereby agree as follows:

 

1.     
Defined Terms. Unless otherwise indicated, capitalized terms used herein shall have the meanings ascribed to them
in the Asset Purchase Agreement.

 

2.     
Amendment of the Asset Purchase Agreement. The Parties hereby agree that the Asset
Purchase Agreement shall be amended as follows:

 

a)     
Section 6.12. Section 6.12 of the Asset Purchase Agreement shall be deleted in its entirety, and the following shall
be substituted in lieu thereof:

 

“SECTION 6.12 Board of Directors.
Immediately after the Closing Date, the Board of Directors of Armada shall consist of seven (7) members, including Randy M. Griffin
(Chairman), James Cerna, Eric Wold, Ray Unruh, Kenneth Hern, Fred Zaziski and Marceau Schlumberger.”

 

b)     
Section 6.13. Section 6.13 of the Asset Purchase Agreement shall be deleted in its entirety, and the following shall
be substituted in lieu thereof:

 

“SECTION 6.13 Management. Immediately
after the Closing Date, the following persons shall hold the following offices in Armada: Randy M. Griffin, Chief Executive Officer;
James Cerna, President; David Freeman, Chief Operating Officer; Rachel Dillard, Chief Financial Officer.”

 

 

    	 

    	 

    

 

c)     
Section 7.1(b). Section 7.1(b) of the Asset Purchase Agreement shall be deleted in its entirety, and the following
shall be substituted in lieu thereof:

 

“(b) Mesa Stockholder Approval. This
Agreement shall have been approved pursuant to the Mesa Stockholder Consent no later than April 20, 2013, or at such later date
as required by the DGCL or other applicable law.”

 

d)     
Section 8.1(b). Section 8.1(b) of the Asset Purchase Agreement shall be deleted in its entirety, and the following
shall be substituted in lieu thereof:

 

“(b) by either Armada or Mesa if the Closing
Date shall not have occurred on or before April 30, 2013, unless extended by the mutual written consent of the Parties; provided,
that the right to terminate this Agreement pursuant to this Section 8.1(b) shall not be available to any Party whose breach
of any provision of this Agreement has been the principal cause of the failure of the Acquisition to be consummated on or before
such date;”

 

e)     
Section 8.1(d). Section 7.1(d) of the Asset Purchase Agreement shall be deleted in its entirety, and the following
shall be substituted in lieu thereof:

 

“(d) by either Armada or Mesa, if the Mesa
Stockholder Consent shall not have been obtained before April 20, 2013;”

 

3.     
No Other Changes. Except as otherwise expressly provided in this Amendment No. 1, the provisions of the Asset Purchase
Agreement shall remain in full force and effect.

 

4.     
Other Actions Necessary. At the reasonable request of one of the parties hereto, the other party shall execute any
other documents or take any other reasonable actions necessary to effectuate this Amendment No. 1.

 

5.     
Binding Effect. This Amendment No. 1 shall inure to the benefit of and shall be binding upon the Parties and their
respective successors and assigns.

 

6.     
Amendments, Changes and Modifications. This Amendment No. 1 may not be amended, changed, modified, altered or terminated
without the prior written consent of all of the parties hereto.

 

7.     
Applicable Law. This Amendment No. 1 shall be governed in accordance with Section 9.6 of the Asset Purchase Agreement.

 

8.     
Execution of Counterparts. This Amendment No. 1 may be executed in one or more counterparts,
all of which shall be considered an original and one and the same agreement and shall become effective when one or more counterparts
have been signed by each of the Parties and delivered to the other Parties, it being understood that all Parties need not
sign the same counterpart. Signed counterparts of this Amendment No. 1 may be delivered by facsimile and by scanned .pdf image.

 

 

 

[SIGNATURE PAGE FOLLOWS]

    	 

    	 

    

IN WITNESS WHEREOF, Armada, Mesa
and Mesa Sub have caused this Amendment No.1 to be signed by their respective officers thereunto duly authorized, all as of the
date first written above.

 

 

ARMADA

 

Armada Oil, Inc.

 

 

By:_______________________

Name:James J. Cerna, Jr.

Title:President and Chief Executive Officer

 

 

MESA

 

Mesa Energy Holdings,
Inc.

 

 

By:_______________________

Name:Randy M. Griffin

Title:Chief Executive Officer

 

 

MESA SUB

 

Mesa Energy, Inc.

 

 

By:_______________________

Name:Randy M. Griffin

Title:Chief Executive Officer

 

 

 

[Signature
Page to Amendment No. 1]Exhibit 10.1

 

 

AMENDMENT N°2 TO

PRODUCT RESEARCH, DEVELOPMENT, 

LICENSE AND COMMERCIALIZATION AGREEMENT

 

(this “Amendment”)

 

Is entered into on February 15, 2013, by
and between

 

INTERCEPT PHARMACEUTICALS, INC.

a corporation organized and existing under
the laws of Delaware, with registered office at 18 Desbrosses Street, New York, NY 10013, USA

 

(hereinafter referred to as “INTERCEPT”)

 

on the one hand

 

AND

 

 

LES LABORATOIRES SERVIER

a corporation organized and existing under
the laws of France, with registered office at 50 rue Carnot 92284 Suresnes cedex, France

 

and

 

INSTITUT DE RECHERCHES SERVIER

a corporation organized and existing under
the laws of France, with registered office at 3 rue de la République, 92150 Suresnes, France

 

(these two entities are jointly referred
to as “SERVIER”)

 

on the other hand.

 

 

 

 

 

page  1 of
4 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    

 

 

RECITALS

 

WHEREAS, INTERCEPT
and SERVIER have executed on August 1st, 2011 a product research, development, license and commercialization agreement
(hereinafter the “Original Agreement”);

 

WHEREAS, the
initial Research Program Term (as defined in section 2.1 of the Agreement) ended on July 31st, 2012;

 

WHEREAS, the
parties have extended such Research Program Term by way of an amendment (the “First Amendment” and the Original Agreement,
as amended by the First Amendment, the “Agreement”) until January 31st, 2013;

 

WHEREAS, the
parties have decided to further extend such Research Program Term for an additional six month period as well as to revise the Research
Program, the definition of Compound(s) and modify the scope of the negative covenants;

 

NOW, THEREFORE,
in consideration of the foregoing premises, SERVIER and INTERCEPT hereby agree as follows:

 

Article
1: 

 

Article 1.14
of the Agreement shall be deleted and replaced in its entirety as follows:

 

“Compound(s)” means any chemical
entity and/or active ingredient which (i) is a selective or non-selective TGR5 receptor agonist and has at least a significant
pharmacological activity on glycemic control in vivo through TGR5 and (ii) is Controlled by INTERCEPT
or its Affiliates, or [***], synthesized by INTERCEPT or its Affiliates pursuant
to work conducted under the Research Program.

 

Article
2: 

 

Unless otherwise indicated below, this
Amendment shall be of effect starting on February 1st, 2013, and the Research Program Term is extended for a six month
period starting on February 1st, 2013 (hereinafter the “Extended Term”).

 

During the Extended Term, INTERCEPT shall
conduct the research activities described in Schedule 1 to this Amendment. In terms of manpower, it is intended that INTERCEPT
will allocate for the performance of the research activities up to [***] full time equivalent which shall include the work as outlined
in the Research Program as amended pursuant to Schedule 1 to this Amendment. SERVIER will reimburse to INTERCEPT at the end of
each quarter of the Extended Term an amount of EUR [***] per FTE per quarter, up to a maximum of EUR [***] per quarter, provided
such costs are duly justified.

 

INTERCEPT will provide (i) an intermediate
report after three months from the commencement of the Extended Term and (ii) a final report within 30 days after the end of the
Extended Term.

 

 

 

page 2 of 4 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    
 

Article
3:

 

Section 2.4 of the Agreement
is hereby amended by adding the following text as the second paragraph of such Section:

 

During the
term of this Agreement, INTERCEPT agrees (a) that any data generated by SERVIER through research conducted under this Agreement
on the taurine-conjugated form of INT-777 (as defined in Exhibit B) shall be jointly owned by the Parties and (b) that it shall
not disclose any such data for the purpose of licensing INT-777 to a Third Party within the SERVIER Territory without the prior
written consent of SERVIER.

 

  

Article
4:

 

Exhibit B of the Agreement
shall, as of the date of the Agreement, be deleted and replaced in its entirety with Exhibit B attached to this Amendment.

 

Article
5:

 

This Amendement shall be governed by and
construed under the laws of Switzerland, without giving effect to the conflict of law principles thereof.

 

Any and all provisions of the Agreement
not modified hereinabove shall remain in full force and effect.

 

[Remainder of Page Intentionally Left
Blank; Signature Page Follows]

 

 

 

 

 

page  3 of
4 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    

 

In witness whereof, the Parties have executed
this Amendment by their proper officers as of the date first set forth above.

 

 

	INTERCEPT PHARMACEUTICALS, INC.	LES LABORATOIRES SERVIER
	 	 
	/s/ Mark Pruzanski	/s/ Marie-Christine Larcher
	Mark PRUZANSKI	Mrs Marie-Christine LARCHER
	President and CEO	Proxy
	 	 
	 	 
	 	INSTITUT DE RECHERCHES SERVIER
	 	 
	 	/s/ Emmanuel Canet
	 	Dr Emmanuel CANET
	 	President R&D

 

 

page  4 of
4 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

    	 

    	 

    

SCHEDULE 1

 

 

[***]

Schedule 1 pg. 1 of 3

 

 

 

 

 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    

 

[***]

Schedule 1 pg. 2 of 3

 

 

 

 

 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    

 

[***]

Schedule 1 pg. 3 of 3

 

 

 

 

 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    	 

    	 

    

 

EXHIBIT B

INTERCEPT COMPOUNDS NOT COVERED BY THE
NEGATIVE COVENANT OF SECTION 7.4

 

 

 

The following Compounds and their conjugated forms (e.g., taurine,
glycine, etc.), [***] (but not their Derivatives that are independently patentable as composition of matter) are excluded from
the negative covenant under Section 7.4:

 

 

 

 

 

Portions of this Exhibit, indicated by the mark “[***],”
were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application
requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

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