Document:

Exhibit 10.2

 

 

 

 

 

AGREEMENT

 

Between

 

ARMADA HEALTH CARE, L.L.C.

 

And

 

HEMISPHERX BIOPHARMA, INC.

 

 

 

MANUFACTURER AGREEMENT

 

CONTRACT #  ______________

 

THIS AGREEMENT is entered into by
and between Armada Health Care, L.L.C., a New Jersey corporation, having offices at 100 Campus Drive, Suite 102, Florham
Park, NJ 07932 (“Armada”) and Hemispherx Biopharma, Inc., a Delaware corporation, having its headquarter offices
at 1617 JFK Boulevard, Suite 660 Philadelphia, Pa 19103 (“Supplier”). This Agreement constitutes the entire agreement
between the parties with respect to its subject matter and this Agreement supersedes all prior concerning the subject matter of
this Agreement.

 

WHEREAS, Armada
is a group purchasing organization (“GPO”), operating in accordance with the group purchasing organizations
safe harbor at 42 C.F.R. § 1001.952 (j) (the “GPO Safe Harbor”); and

 

WHEREAS, as
a GPO, Armada, on behalf of its Members (hereinafter defined) negotiates and maintains contracts with manufacturers and
distributors of healthcare products, including but not limited to pharmaceutical and medical surgical products, as well as service
providers, collectively known as “Suppliers” to offer rebates (“Contract Rebates”) on specific products
to the Members or sell specific products to the Members at agreed-to prices (“Award Prices’); and

 

WHEREAS, Supplier
by submitting a written proposal to ARMADA providing information detailing the rebate amount and/or price, quantity, value and
technology of all products which Supplier would offer to Members, has shown willingness to provide said products to members and
such written proposal is incorporated herein by reference (hereinafter referred to as “Supplier’s Response”)
and attached hereto as Exhibit A; and

 

     

     

    

 

 

WHEREAS, based
upon the representations, covenants and warranties contained in Supplier’s Response, all of which are deemed to be material,
ARMADA has selected Supplier to provide Members with the products and services described in Supplier Response at the Contract Rebate
and/or Award Price levels set forth therein and upon the terms and conditions set forth herein;

 

NOW,
THEREFORE, in consideration of mutual promises contained herein, Supplier’s Response and other good and valuable consideration,
ARMADA and Supplier agree as follows:

 

TERMS AND CONDITIONS

 

		1.	Term – the period of time for which this Agreement will be in effect, August 15, 2011 through August 14,
2012

 

		2.	Contract Number(s) – Supplier shall provide contract number(s) upon submission
of Agreement to ARMADA. Contract number(s) shall remain consistent in all forms of communication throughout the term of this Agreement
to all authorized and applicable parties, including BioRidge Pharma.

 

		3.	Products, Contract Rebates and Contract Prices - Product line,
Contract Rebates and Award Prices offered under this agreement should be identified as Exhibit A. Contract Rebate and Award
Price information should remain confidential and will be released to ARMADA members and potential program participants only.

 

		4.	Price Protection - Supplier agrees that the prices, quality, value and technology
of all Products sold under this Agreement shall be market competitive throughout the Term. During the Term, Supplier shall provide
prompt written notice to ARMADA of all Products offered for sale by Supplier on terms that are more favorable to an offeree than
the terms of this Agreement. Supplier shall lower the Award Price or increase any discount applicable for the purchase of Products
to assure market competitiveness for Members. If at any time during the Term ARMADA receives information indicating that Supplier’s
prices, quality, value or technology are not market competitive, ARMADA may provide written notice of such information to Supplier,
and Supplier shall, within ten (10) business days, advise ARMADA in writing of and fully implement all adjustments necessary to
assure market competitiveness to Members. Market Competitiveness shall be based on pricing offered to similar entities within a
class of trade and excludes pricing made available to entities outside the United States or any pricing offered to any Government
Entity (i.e. VA, DoD, PHS, etc.).

 

		5.	Price Notifications - Supplier shall provide not less than forty-five (45)-days’
prior written notice to ARMADA and not less than seven (7)-days’ prior written notice to BioRidge Pharma of any change in
pricing terms permitted by this Agreement. For purposes of the foregoing notification requirements, a change in pricing terms shall
mean any change that affects the delivered price to the Member, including, without limitation, changes in list prices, discounts,
pricing tiers or schedules. Such written notice shall be provided in such format and in such detail as may be required by ARMADA
and shall include, at a minimum, sufficient information to determine line item pricing of the Products for all affected Members.

 

		6.	Class of Trade Form - Supplier shall complete the Class of Trade Form as set forth
in Exhibit B. Each unique contract number requires a separate Class of Trade Form.

 

    	Confidential	 	1

     

    

 

 

		7.	Eligibility to Participate - This proposal is extended to all ARMADA member facilities
that fall within the approved Class of Trade defined in Exhibit B, agree to the terms as detailed in Exhibit A, and have been qualified
by Armada and ultimately approved by Supplier (“Participating Members”). ARMADA may also from time to time identify
members that may meet the requirements of the Agreement (“Potential Participating Member”). These Potential Participating
Pharmacies will be submitted for review and final approval by Supplier at which time they will become “Eligible Members”.
ARMADA reserves the right to delete members during the period of this agreement by providing the Supplier thirty (30) days
written notice.

 

		8.	“Usage Data” shall mean a data file at the NDC level for all Products
bought or returned to authorized wholesaler as shown in Exhibit G; Required Usage Data Format.

 

		9.	“WAC” shall mean the US Dollar wholesale acquisition cost for a given
pharmaceutical product by the National Drug Code (“NDC”) number in effect as of the first day of the calendar quarter
as established by Supplier.

 

		10.	Contract Implementation - Supplier will endeavor to implement this agreement within
thirty (30) days of signing. This implementation will include contacting ARMADA facilities and/or if applicable, providing pricing
and contract information to the authorized distributor listed on Exhibit C. Supplier will provide copies of all correspondence
to distributor providing contract information. Failure to comply with this condition may result in the cancellation of the agreement.

 

		11.	Commitment - Armada will commit significant time and resources into the implementation
of this program, in consideration of this Supplier agrees not to implement the same or similar programs with other similar organizations.
Additionally, Supplier agrees to not offer equal or better terms to any ARMADA member on a direct basis.

 

		12.	Return Goods Policy - Supplier must provide a formal policy to ARMADA members for
the return of defective products or products received by error. The policy should include the contact person's name and phone number
responsible for processing returns and providing return authorization. In addition, full credit will be issued for products returned
to the Supplier. Please include policy as Exhibit D.

 

		13.	Product Recall - Supplier will maintain a product recall policy and procedure and
will notify all ARMADA members of products affected. Please include Product Recall Policy as Exhibit E.

 

		14.	Material Safety Data Sheet (MSDS) - Supplier will provide ARMADA members Material
Safety Data Sheets if applicable.

 

		15.	Distribution/Order Placement (Check one or both if applicable)

 

	/  /	Direct:	 	 
	 	Company Name	 	 
	 	Address	 	 
	 	City/State/Zip	 	 
	 	Telephone	 	 
	 	Fax Number	 	 
	 	Contact Name	 	 
	 	 	 	 
	/  x/	From Distributor	 	 

 

    	Confidential	 	2

     

    

 

 

Orders may be placed through authorized distributors.
ARMADA will provide a list of those distributors (Exhibit C). ARMADA supports the efforts of those Suppliers that provide
equal opportunities to minority distributors. 

 

Note: Please attach a separate listing of your servicing
distributor(s), coverage area, address and phone number.

 

		16.	Disruption of Product Delivery - Supplier will make all reasonable plans to see that
the product(s) awarded are available when Participating Members place their orders. Products that are unavailable due to back order,
but remain in production by Supplier are considered temporarily unavailable. Supplier will not be held responsible for out of stock
situations that occur at the wholesaler’s distribution centers when product is available for shipment from Supplier. Supplier
shall be relieved of its obligations by acts of God, riots, labor disputes, strikes, actions or defaults or material suppliers
or common carriers.

 

		17.	Rebates

 

A. All reimbursement payments
will be made monthly, by check, or electronically, via an Automated Clearing House payment to the bank account(s) designated by
ARMADA within thirty (30) days after Supplier’s receipt and acceptance of Usage Data.  Rebates will be calculated
as a percentage of Wholesaler Acquisition Cost (“WAC”) on the day of purchase and based on the Product purchases made
by ARMADA members through Authorized Wholesalers during the month. Payment for any period that is not a complete month will be
based on the Product purchases made during such period. Detailed documentation of the rebate payment showing how the rebate was
calculated and the reason for any discrepancy between the amounts billed and the amount paid will accompany all rebate checks.
Adjustments, if found, will be paid or refunded accordingly to the appropriate party in subsequent rebate payments. In the event
that no subsequent rebate payments are payable, ARMADA will refund to Supplier any overpayment within thirty (30) days of Customer’s
acknowledgment of the overpayment; Supplier will remit any underpayment to ARMADA within thirty (30) days of Supplier’s acknowledgment
of such underpayment.

 

B. As a condition to receiving
Rebates described in Exhibit A, ARMADA shall provide to Supplier Usage Data, within thirty (30) days of the end of each
month during the term of this Agreement. Both Parties agree to discuss Usage Data if found to be unacceptable to Supplier and
will work to resolve issues before final determination of the acceptability of the Usage Data. The acceptability of Usage Data
rests with mutual agreement between the Parties.

 

		18.	Insurance

 

A. Policy Requirements.
Supplier shall maintain and keep in force during the Term product liability, general public liability and property damage insurance
against any insurable claim or claims which might or could arise regarding Products sold by, manufactured by or purchased from
Supplier. Such insurance shall contain a minimum combined single limit of liability for bodily injury and property damage in the
amounts of not less than $5,000,000 per occurrence. The insurance policy shall name ARMADA, as its interests may appear, as additional
insured’s. Supplier shall provide to ARMADA within fifteen (15) days after ARMADA’s request, an insurance certificate
indicating the foregoing coverage and issued by an insurance company licensed to do business in the relevant states. ARMADA shall
maintain and keep in force during the Term General Liability, Workers Compensation and Employers Liability, Professional Liability,
Errors and Omissions Liability and Privacy and Network Security Liability.

 

    	Confidential	 	3

     

    

 

 

 

B. Amendments, Notices and Endorsements. Supplier
shall not amend, in any material respect the insurance coverage without thirty (30) days’ prior written notice to ARMADA.

 

		19.	Administrative Fees - In consideration of the administrative and sales development
services provided by ARMADA as well as the services set forth in Exhibit H, Supplier will pay ARMADA an administrative fee in an
amount equal to one percent (1%) of the net purchases made by members, as determined from manufacturers/distributor records.
ARMADA represents and warrants that fees or other amounts received from suppliers are disclosed in accordance with the requirements
of 42 CFR Part 1001.952(j). The fee will be computed and paid quarterly within thirty (30) days after the last day of the quarter
(payment due date).

 

Checks
for administrative fee payments should be made payable:

 

	To:	Armada Health Care, L.L.C.
	 	100 Campus Drive, Suite 102
	 	Florham Park, NJ 07932
	 	 
	 	(Attn: Finance Department)

 

Data
to:  rxdata@Armadahealthcare.com

 

In order to assist ARMADA and
its representatives, Supplier agrees that a qualified Manufacturer sales representative will call on ARMADA members as needed.
Furthermore, Supplier will provide ARMADA monthly reports showing total purchases in units and dollars by product code. These reports
will be provided in an electronic format.

 

		20.	Nonpayment or Insolvency of a Member or Distributor - Supplier shall have no recourse
against ARMADA for failure of any Distributor or member to pay for products purchased pursuant to this agreement. If a Member or
Distributor fails to pay Supplier for Products ordered by such Member or Distributor, or if a Member or Distributor becomes bankrupt
or insolvent or makes an assignment for the benefit of creditors or goes into liquidation, or if proceedings are initiated for
the purpose of having a receiving order or dissolution order made against a Member or Distributor, or if a Member or Distributor
applies to the court for protection from its creditors, then, in any such case, this agreement shall not terminate, but, (i) in
the case of a Distributor, Supplier will have the right, upon prior written notice to ARMADA and the Members, to discontinue providing
Products through that Distributor, and Supplier shall thereafter provide Products to the Members directly or through another Distributor,
as directed by ARMADA; and (ii) in the case of a Member, Supplier shall have the right, upon prior written notice to ARMADA and
the Member, to discontinue selling Products to that Member.

 

		21.	Review of Supplier Records -  At any time while this agreement is in effect
and if applicable, ARMADA reserves the right upon giving reasonable notice to review the records of the Supplier for the purpose
of verifying reported sales to members and the calculation of the sales development fee outlined in Paragraph 19. These records
should be made available at the Supplier's business office during normal business hours. The cost associated with this review will
be the responsibility of ARMADA unless it is determined that the sales development fee payment has been understated by twenty-five
percent (25%) or more.

 

    	Confidential	 	4

     

    

 

 

 

		A.	ARMADA acknowledges that records and information received during any audit are confidential in nature, and ARMADA agrees not
to disclose same to persons or parties not participating in this or ARMADA programs.

 

		22.	Use of Names - Supplier shall not use in any of its promotional, informational or
marketing activities or materials the names, trademarks, logos, symbols or description of the business or activities of ARM ADA,
Distributor or Member without in each instance obtaining the prior written consent of the person owning the rights thereto.

 

		23.	Confidential Information

 

		A.	During the Term and for two (2) years thereafter, Supplier shall:

 

		(i)	keep strictly confidential and hold in trust the contents of this Agreement;

		(ii)	keep strictly confidential and hold in trust all Confidential Information (defined below) of ARMADA, the Distributors and the
Members;

		(iii)	not use the Confidential Information for any purpose other than Supplier’s performance of its obligations under this
Agreement, without the prior written consent of ARMADA;

		(iv)	not disclose the Confidential Information to any third party (unless required by law) without the prior written consent of
ARMADA; and

		(v)	not later than thirty (30) days after the expiration or earlier termination of this Agreement, return to ARMADA, the Distributor
or the Member, as the case may be, any Confidential Information Supplier may have received.

 

		B.	Definition. As used herein, “Confidential
Information,” shall consist of all information relating to the prices and usage of the Products, all documents and other
materials of ARMADA, the Distributors and the Members containing information relating to the programs of ARMADA, the Distributors
or the Members which are proprietary or sensitive in nature not readily available through sources in the public domain. In no event
shall Supplier provide to any person any information relating to the prices it charges the Distributors for Products ordered pursuant
to this Agreement without the prior written consent of ARMADA.

 

		24.	Compliance

 

A. Compliance With Law.
Supplier represents and warrants, that at all times during the Term, that it is in, and will maintain, compliance with all federal,
state and local statutes, laws, ordinances and regulations applicable to it (“Legal Requirements”) which are material
to the operation of its business, the conduct of its affairs and sale of Products, including Legal Requirements pertaining to the
safety, manufacturing and distribution of the Products, occupational health and safety, environmental protection, nondiscrimination,
antitrust, and equal employment opportunity. During the Term, Supplier shall: (i) promptly notify ARMADA of any lawsuits, claims,
administrative actions or other proceedings asserted or commenced against it which assert in whole or in part that Suppler is in
noncompliance with any Legal Requirement which is material to the operation of its business, the conduct of its affairs and/or
the sale of Products; and (ii) promptly provide ARMADA with true and correct copies of all written notices of adverse findings
from any governmental agency, including, but not limited to, the U.S. Food and Drug Administration (“FDA”) and all
written results of FDA or other governmental inspections which pertain to the Products.

 

    	Confidential	 	5

     

    

 

 

B. Anti-Kickback Statute.
It is the parties’ intention that this arrangement comply with the federal Anti-Kickback Statute, 42 U.S.C. § 132a-7b
(b) and other applicable federal and state laws and, further, that this arrangement satisfy, and the parties comply with, as applicable,
the GPO safe Harbor, and discounts safe harbor regulation at 42 C.F.R § 1001.952 (h) (the “Discounts Safe Harbor”).

 

C. Government Program Participation.
Supplier represents and warrants that it is not excluded from participation, and is not otherwise ineligible to participate, in
a “Federal health care program” as defined in 42 U.S.C. 1320a-7, et seq. or in any other government payment
program. In the event Supplier is excluded from participation, or becomes otherwise ineligible to participate in any such program
during the Term, Supplier shall notify ARMADA in writing within three (3) days after such event, and upon the occurrence of such
event, whether or not such notice is given to ARMADA, ARMADA may immediately terminate this Agreement upon written notice to Supplier.

 

D. Privacy Without limiting
the generality of the foregoing, Armada represents that it and each Participating Member will comply with all laws regarding patient
privacy and confidentiality, general privacy and security requirements, and communication methods including, but not limited to,
HIPAA, the CAN-SPAM Act, the Telephone Consumer Protection Act, the Telemarketing Sales Rule, and applicable Texas, California,
and other federal or state laws covering the same or similar topics. Armada further represents that it will take all necessary
actions (i) to ensure that all participating members obtain the appropriate consents or authorizations required by law or regulation
prior to the performance of services hereunder, and (ii) to ensure that all such services will be performed in accordance with
any notice, opt-in, opt-out, access, envelope or other communications restrictions contained in applicable state or federal law.
Armada acknowledges that Supplier has no direct interaction with participating member’s customers seeking to fill
prescriptions and that Supplier accordingly relies upon Armada as an independent contractor to insure that all patient consents
or authorizations required by law or regulation are obtained prior to the performance of any services contemplated under this Agreement.

 

E. Adverse Event Reporting Armada
represents that it and each Participating Member agree to report adverse events reported to Armada or Participating Member during
their course of their communications with patients as per Exhibit I.

 

		25.	Indemnification - Supplier shall release, indemnify, hold harmless, and, if
requested, defend ARMADA, the Members and the Distributor, and their respective officers, directors, regents, agents, subsidiaries,
affiliates and employees (collectively, the “Indemnitees”), from and against any claims, liabilities, damages, actions,
costs and expenses (including, without limitation, reasonable attorneys’ fees, expert fees and court costs) of any kind or
nature, whether at law or in equity, INCLUDING CLAIMS ASSERTING STRICT LIABILITY, arising from or caused in any part by (i) the
breach of any representation, warranty, covenant or agreement of Supplier contained in this Agreement; (ii) the condition of any
Product, including a defect in material, workmanship, design, manufacturing or formulary; or (iii) the warnings and instructions
associated with any product. However, t such indemnification, hold harmless and right to defense shall not be applicable where
the claim, liability, damage, actions, cost or expense arises solely as a result of an act or failure to act of Indemnitees. This
Section and the obligations contained herein shall survive the expiration or earlier termination o f this Agreement. The remedies
set forth in this Section are in addition to and not a limitation on any other rights or remedies that may be available against
Supplier.

 

    	Confidential	 	6

     

    

 

 

 

		26.	Cancellation

 

ARMADA may terminate this Agreement
at any time for any reason whatsoever by delivering not less than sixty (60)-days’ prior written notice to Supplier. In addition,
ARMADA may terminate this Agreement immediately by delivering written notice to Supplier upon the occurrence of either of the following
events:

 

(i)       Supplier breaches any term
of this Agreement; or

 

(ii)      Supplier becomes insolvent,
makes an assignment for the benefit of creditors, or commences liquidation proceedings; or proceedings are initiated by or against
Supplier under the U.S. Bankruptcy Code; or Supplier applies to any court for protection from its creditors.

 

ARMADA’s right to terminate
this Agreement due to Supplier’s breach is in addition to all other rights and remedies ARMADA, the Members or the Distributors
may have resulting from such breach, including, but not limited to, ARMADA’s right to recover all lost Administrative Fees
resulting from such breach through the date ninety (90) days after termination.

 

Supplier may terminate this Agreement
at any time for any reason by delivering not less than sixty (60)-days prior written notice thereof to ARMADA.

 

		27.	Transferability - In the event that Supplier transfers legal ownership and/or marketing
rights of products listed on Exhibit A to another entity during the term of this agreement, ARMADA's rights and privileges as expressed
by the terms and conditions contained herein shall also be transferred upon the agreement and consent of ARMADA.

 

		28.	Miscellaneous

 

			A. Choice of Law. This Agreement and the rights and obligations of the Partners hereunder
shall in all respects be governed by and construed in accordance with the internal laws of the State of New Jersey (without regard
to the conflict of laws principles of such state) including all matters of construction, validity and performance. The Partners
hereto agree and submit to New Jersey courts to have jurisdiction over all matters relating to this Agreement and any lawsuits
instituted by either party shall be brought in New Jersey; however, the terms of any agreement between Supplier and an Distributor
or between Supplier and a Member shall be governed by and construed in accordance with the choice of law and jurisdiction provisions
set forth in such agreement.

 

B. Not Responsible. ARMADA
shall not be responsible or liable for any acts or failure to act of any Distributor or Member.

 

C. Third-Party Beneficiaries.
All Distributors and Members are intended to be third-party beneficiaries of this Agreement. All terms and conditions of this Agreement,
which are applicable to the Distributors, will inure to the benefit of and be enforceable by the Distributors and their respective
successors and assigns. All terms and conditions of this Agreement which are applicable to the Members will inure to the benefit
of and be enforceable by the Members and their respective successors and assigns.

 

		29.	Submission of Document - Submission of this document constitutes a legal offer. Therefore,
should any or all of said document be accepted and in exchange for being designated as a contracted Supplier, said Supplier hereby
agrees to be legally bound to provide each ARMADA facility, present and future on an as desired basis, any items encompassed in
said document pursuant to the terms of the respective agreement.

 

    	Confidential	 	7

     

    

 

 

 

IN
WITNESS WHEREOF, the Parties have executed and delivered this Agreement.

 

	ACCEPTED BY:	 	ACCEPTED BY:
	Armada Health Care, L.L.C.	 	Hemispherx Biopharma, Inc.
	 	 	 
	By: Lawrence S. Irene, R.Ph.	 	By: William A. Carter, M.D.
	 	 	 
	 	 	 
	Signature	 	Signature
	 	 	 
	Title: CEO	 	Title: Chairman and CEO

 

	Date: ____________________________	 	Date: _____________________________

 

Manufacturer Contract # ______________________

 

SIGNATURE BY BOTH PARTIES CONSTITUTES A
LEGAL AND BINDING AGREEMENT

 

    	Confidential	 	8

     

    

 

 

 

Exhibit A

Products, Contract Rebates, Services
and Fees

 

		1.	PRODUCT

 

	NDC	 	Product Name	 	Unit of Measure
	54746-0001-01	 	Alferon N Injection	 	1ml/vial

 

		2.	REBATE SUMMARY

 

		2.1.	Contract Rebates are set forth in this Section. For Participating Members the following discounts
will apply in the form of a rebate off of WAC.

 

2.1.1.      Base
Rebate Schedule: Supplier will provide a Base Rebate to Participating Members as indicated below off the then current WAC at
time of purchase in exchange for the service described in Sections 3 and 4 below.

 

	NDC	 	Product Name	 	WAC Discount
	54746-0001-01	 	Alferon N Injection	 	10%

 

2.1.2.      Incremental
Volume Rebate Schedule: Participating Member will be eligible to earn an Incremental Volume Rebate as indicted below off the
then current WAC as time of purchase. Incremental Volume rebate will be based on monthly incremental units sales as compared
to the respective members average monthly baseline unit sales, The baseline unit sales will be defined as the average monthly Product
purchases for the first three months that Participating Member is on contract.

 

	NDC	 	Product Name	 	WAC Discount
	54746-0001-01	 	Alferon N Injection	 	10%

 

		3.	DATA REQUIREMENTS

 

		3.1.	Armada shall not provide Supplier with the names of, or any non-blinded medical information with
respect to, patients or any information that is considered identifiable under HIPAA or applicable state law (“Patient Information”).
Supplier agrees not to use, directly or indirectly, any methods, system, or device, whether through coding of any materials hereunder
or otherwise, to attempt to identify such individuals or to correlate the identity of those individuals receiving mailings hereunder
with Armada’s mailing list or other database.

 

		3.2.	Participating Members will be eligible to receive the discount as set forth above in exchange for
such member continually providing to Armada complete and accurate data as set forth in Exhibit F.

 

    	Confidential	 	9

     

    

 

 

		3.3.	If Participating Member does not provide data in accordance with the terms of this Agreement, Supplier
reserves the right to disallow access to the discount to Participating Member and its locations.

 

		4.	BASE SERVICES

 

Supplier will provide to each
Participating Member a discount off WAC on Product purchases in exchange for such Participating Member continuing to provide services
depicted in this Section 4 during the term of the Agreement. As a condition to receive price concessions here under, Participating
Facility agrees to the following:

 

		4.1.	To offer compliance programs, case management support services to patients who elect to participate
in these activities and to maintain a 24-hour/365-day a year telephone service for assistance of prescription drug-related medical
emergencies to patients of Participating Pharmacy for whom Product has been or is being purchased.

		4.2.	To provide quality reimbursement assistance including the ability to perform benefits investigations
on behalf of a patient’s pharmaceutical and medical reimbursement process, assist with the completion of prior authorization,
offer appeal guidance and track claims.

		4.3.	To maintain inventory down to three months dating and buy Product from the authorized wholesaler
or distributor as indicated in Exhibit C, and will not buy from the alternate source market. The term "alternate source"
shall include, but not be limited to, Hemispherx international affiliates, trading companies, brokers, secondary market wholesalers,
alternate source pharmacies, or other customers whose sole purpose is to buy and hold inventory for speculative purposes.

		4.4.	To have, and continue to have, an outbound sales staff sales staff or equivalent ability calling
on managed care, employer groups and/or physicians.

		4.5.	To distribute, when available, Hemispherx approved educational materials following therapy start
and during the course of therapy as necessary.

		4.6	To not engage in any activity or program that disadvantages any Hemispherx Product. Nothing herein
is intended to limit the right of a Participating Member to use its own best judgment in providing a suitable standard of care
for its patients or to preclude the mere contracting by a Participating Member with other manufacturers of products in the relevant
market.

		4.7	To permit Hemispherx representatives to discuss with personnel of the Participating Member clinical
issues relating to specific Hemispherx Products, formulary issues, new products, business trends, managed care strategies and other
issues as agreed upon by both parties.

		4.8	Participating Member will make available to Armada purchase data regarding the sale of Products
as designated by Hemispherx.

		4.9	Participating Member will purchase Hemispherx Products only for dispensing to its patients and
not for resale to any wholesaler, retailer, institution or any other entity and Participating Member agrees to indemnify Hemispherx
and bold Hemispherx harmless from and against any loss, damage, cost and expense, including attorneys' fees, with respect to any
claim or demand arising from the breach of this provision.

		4.10	While a Participating Member and for one year thereafter, Participating Member will maintain all
reasonable relevant books, records, policies and training manua1s relating to all the services performed and obligations assumed
with respect to Hemispherx Products as well as discounts claimed by Participating Member. Participating Member will permit
Hemispherx or its agents, upon two business days' notice, to audit such books, records, policies, and training manuals.

		4.11	To the extent Participating Member has knowledge of same Participating Member will keep all the
terms and provisions of this Contract, including the discounts, confidential.

 

    	Confidential	 	10

     

    

 

 

 

		4.12	Participating Members are aware of and will comply with Section 1128B(b) of the Act (42 U.S.C.
1320a-7b) when seeking reimbursement from any government or other entity for Products purchased pursuant to this Agreement. Participating
Members acknowledge that the Act requires proper disclosure of any discounts, rebates, credits, reimbursements and other like programs
provided for herein and agree to accurately report to private and governmental third-payers (including Medicare, Medicare Part
D PDP and MA-PD Plans, and Medicaid), and other individuals and entities the net effective discount price for each Product for
which a discount has been given pursuant to this Agreement to the extent required under applicable federal, state or local law
or Centers for Medicare and Medicaid Services (CMS) guidance. Participating Members are specifically on notice of the reporting
obligations set forth in 42 C.F.R. § 1001.952 (h). Participating Members shall request confidential treatment of any disclosure(s)
made to Medicare Part D PDP and MA-PD Plans to the extent permitted by law.

		4.13	Participating Member will comply with all laws regarding patient privacy and confidentiality, general
privacy and security requirements, and communication methods including, but not limited to, HIPAA, the CAN~SPAM Act, the Telephone
Consumer Protection Act, the Telemarketing Sales Rule and other federal or state Jaws covering the same or similar topics. Participating
Members will obtain the appropriate consents or authorizations required by law or regulation prior to the performance of services,
and ensure that all such services will be performed in accordance with any notice, opt-in, opt-out, access, envelope or other communications
restrictions contained in applicable state or federal law.

		4.14	Participating Member will provide complete and accurate data required by Armada (subject to and
in accordance with the privacy provisions above)

		4.15	Participating Member will maintain regular contact with its prescribers (subject to and in accordance
with the privacy provisions above) to educate them on the Alferon N Injection®, make them aware of patient education materials
and programs and their applicability to the patient type.

		4.16	Participating Member will, to the best of their ability, utilize its physician and/or managed care
sales forces to distribute information about Alferon N Injection® programs or services contained herein.

 

    	Confidential	 	11

     

    

 

 

 

Exhibit B – Class of Trade

 

 

 

	To:	Contract Administrators	 
	From:	ARMADA Contract Development	Contract #  __________________
	RE:	Alt-Site Trade Classes	 

 

Please indicate on the list below which
trade class your organization considers eligible:

 

	All Trade Classes		Nursing Home	x
	Acute Care (Hospital)	x	Nursing Home Provider	x
	Assisted Living	 	Oncology Center	 
	Correctional	x	On-Site Hospital Clinic	x
	Dialysis	 	Outpatient Clinic	x
	Distributor	 	Physician’s Office	x
	Group Practice	x	Post-Surgical Recovery	 
	Health Plan	 	Psychiatric Hospital	 
	HMO	x	Rehab Center & Chronic Disease Hospice	 
	HMO Group	x	Rehabilitation Facility	 
	HMO Staff	x	Residential Care	 
	Home Care	 	Retail	 
	Home Infusion	x	Skilled Nursing Facility	 
	Hospice	 	Specialty Pharmacy	x
	Immediate Care Center	x	Surgery Center	 
	Laboratory – Free Standing	 	Teaching Hospital	x
	Mail Order (no retail sales)	 	University/School Clinic	x
	MRI/Radiology	 	 	 

 

Thank you in advance for your cooperation
in this very important matter. Please return the completed form via fax or email ASAP. Facsimile number 973-564-8010 or email
contracts@armadahealthcare.com Attn: Contract Administrator.

 

	Vendor Name:	 
	 	 
	Completed By:	 
	 	 
	Title:	 
	 	 
	Email:	 
	 	 
	Phone Number:	 

 

    	Confidential	 	12

     

    

 

 

 

Exhibit C

ARMADA Distributors and Wholesalers

 

Bio Ridge Pharma, LLC.

100 Campus Drive Suite 102

Florham Park, NJ 07932

 

    	Confidential	 	13

     

    

 

 

 

Exhibit D

 

Hemispherx
Returned Goods Policy

 

This Return Goods Policy is for all Hemispherx products, Alferon
N® and Ampligen® , distributed by Bio Ridge Pharma, Inc.

 

The following products are eligible for return and reimbursement:

 

		·	Out dated product: Product within two (2) months prior or six (6)
months past expiration date noted on product;

AND

 

		·	Product in its original container and bearing its original label.

OR

 

		·	Product which Hemispherx has specified be returned

 

The following products are not eligible for return and reimbursement:

 

		·	Product that is not out-dated.

 

		·	Product in which the lot number and/or expiration date is missing,
illegible, covered, and/or unreadable on original container.

 

		·	Product that has been damaged due to improper storage or handling,
fire, flood, or catastrophe.

 

		·	Product that has been sold expressly on a non-returnable basis.

 

		·	Product that is not in its original container and/or not bearing its
original label.

 

		·	Product that is in its original container with a prescription label
attached.

 

		·	Product that has been repackaged

 

		·	Partial vials..

 

		·	Product obtained illegally or via diverted means.

 

		·	Product purchased on the "secondary source" market or from
a distributor other than BioRidge. .

 

		·	Product that Hemispherx determines, in its sole discretion, is otherwise
adulterated, misbranded, or counterfeit.

 

Hemispherx will only accept returns shipped to BioRidge Pharma.
All eligible products shall be shipped in a safe, secure, and reliable manner, and in compliance with all applicable federal, state
and local laws, regulations and statutes. It is the shipper's responsibility to securely package all return goods to prevent breakage
during transit and otherwise comply with laws and regulations applicable to the packaging, shipping and transport of return goods
shipments. Hemispherx is not responsible for shipments lost and/or damaged in transit. Hemispherx recommends that all customers
insure return goods shipments.

 

Hemispherx will audit the quantities of return goods and final
reimbursement will be based on Hemispherx count. All products will be reimbursed based on the priced paid. Direct purchasing customers
reimbursement will be issued in the form of a credit or product replacement to the appropriate party.

 

    	Confidential	 	14

     

    

 

 

 

To assist in accurate credit memo processing, please include
the following information with the return goods shipment:

 

		1.	Purchaser ‘s name and mailing address.

 

		2.	Date and quantity purchased

 

Return goods shipments which are deemed to be outside of this
policy will not be returned to the customer or the third party processor and no reimbursement will be issued by Hemispherx. Hemispherx
return goods policy is subject to change at any time and without prior notice to other parties.

 

    	Confidential	 	15

     

    

 

 

 

Exhibit
E

Product Recall Policy

 

PDF version of Hemispherx
Policy to be added to final PDF of Agreement.

 

    	Confidential	 	16

     

    

 

 

Exhibit F: RX Data

 

	Category	 	Field	 	Type	 	Description	 	Values	 	Example	 	Required
	Patient	 	PATIENT_ID	 	text	 	Patient Identifier - Id from pharmacy dispensing system	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_CONTACT	 	 	 	 	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_CONTACT_PHONE	 	 	 	 	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_CORP_NAME	 	 	 	 	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_DEA	 	text	 	DEA of the pharmacy	 	Required if data for more than one pharmacy is supplied	 	AB123456789	 	Yes
	Pharmacy	 	PHARMACY_DEA_NAME	 	 	 	 	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_NABP	 	text	 	Same as NCPDP	 	NABP (National Association of Boards of Pharmacy) number as issued by NCPDP	 	 	 	Yes
	Pharmacy	 	PHARMACY_NPI	 	text	 	National Provider ID for pharmacy	 	 	 	 	 	Yes
	Pharmacy	 	PHARMACY_ZIP	 	 	 	 	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_CITY	 	text	 	Physician City	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_CONTACT_PHONE	 	 	 	 	 	 	 	 	 	Yes, If Available
	Physician	 	PHYSICIAN_DEA	 	text	 	Physician DEA	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_FIRST_NAME	 	text	 	Physician First Name	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_LAST_NAME	 	text	 	Physician Last Name	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_MIDDLE_INITIAL	 	text	 	Physician Middle Initial	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_NPI	 	text	 	NPI # for Physician	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_PHONE	 	text	 	Phone # for Physician	 	 	 	 	 	Yes, If Available
	Physician	 	PHYSICIAN_SPEC	 	text	 	Physician Specialty	 	 	 	Cardiology	 	Yes
	Physician	 	PHYSICIAN_STATE	 	text	 	Physician State	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_STREET_ADDRESS	 	text	 	Street address for physician's office	 	 	 	 	 	Yes
	Physician	 	PHYSICIAN_STREET_ADDRESS2	 	 	 	Second line of street address	 	 	 	2nd Floor - Suite 205	 	Yes
	Physician	 	PHYSICIAN_TITLE	 	 	 	Professional designation for prescriber	 	MD, DO, NP, PA	 	MD	 	Yes
	Physician	 	PHYSICIAN_ZIP	 	text	 	Physician Zip Code	 	 	 	 	 	Yes
	Rx	 	COPAY	 	decimal	 	Patient out of pocket costs	 	 	 	10	 	Yes
	Rx	 	DATE_FILLED	 	Date	 	Date RX was Dispensed	 	 	 	38353	 	Yes
	Rx	 	DATE_SHIPPED	 	date	 	Date product was shipped	 	 	 	 	 	Yes
	Rx	 	DAYS_SUPPLY	 	decimal	 	Days Supply for Quantity Dispensed	 	 	 	30	 	Yes
	Rx	 	DAYS_SUPPLY_WRITTEN	 	decimal	 	Days Supply Written on original RX	 	 	 	 	 	Yes
	Rx	 	DISPENSE_AS_WRITTEN	 	text	 	DAW Code	 	 	 	 	 	Yes
	Rx	 	MAJOR_PLAN_NAME	 	text	 	Patient Health Insurance Company	 	 	 	 	 	Yes
	Rx	 	MARKETING_CODE	 	text	 	Marketing Material Shipped with the Product	 	 	 	 	 	Yes
	Rx	 	NDC	 	text	 	NDC of the drug dispensed, 11 digits, no dashes	 	 	 	11111222233	 	Yes

 

    	Confidential	 	17

     

    

 

 

 

	Rx	 	PAYOR_NAME	 	text	 	 	 	Express Scripts, Medco, Caremark, etc.	 	Medco	 	Yes
	Rx	 	PAYOR_TYPE	 	text	 	MCAID - Medicaid, MCARE - Medicare, CASH, TPP - other Third Party Plan, MED - Medical Claim	 	 	 	TPP	 	Yes
	Rx	 	PLAN_REIMBURSEMENT	 	decimal	 	Total paid by all health plans	 	 	 	 	 	Yes, If Available
	Rx	 	PRIMARY_PLAN_GROUP_NUMBER	 	text	 	Group # for primary plan	 	 	 	 	 	Yes
	Rx	 	PRIMARY_PLAN_NUMBER	 	text	 	Plan #	 	 	 	 	 	Yes
	Rx	 	PRODUCT DESCRIPTION	 	text	 	Product Name/Strength/Form	 	Used when NDC cannot be identified	 	ALFERON N 5MU/ML	 	Yes
	Rx	 	QTY	 	decimal	 	Quantity Dispensed	 	 	 	90	 	Yes
	Rx	 	QTY_WRITTEN	 	decimal	 	Quantity Written on RX	 	 	 	 	 	Yes
	Rx	 	REFILL_NUMBER	 	Integer	 	New/Refill Code	 	00 = Original RX, 01 = First Refill, 02=Second Refill, etc.	 	02	 	Yes
	Rx	 	RX_DC_DATE	 	date	 	Date RX was discontinued	 	 	 	38717	 	Yes
	Rx	 	RX_DC_REASON	 	text	 	Reason for RX dicontinuation	 	 	 	 	 	Yes
	Rx	 	RX_ICD9	 	text	 	ICD-9 code for RX	 	 	 	154.1	 	Yes
	Rx	 	RX_ICD9_2	 	text	 	Secondary ICD-9 code for RX	 	 	 	154.1	 	Yes
	Rx	 	RX_NUMBER	 	text	 	 	 	 	 	44518721	 	Yes
	Rx	 	RX_TYPE	 	text	 	Prescription Type	 	1 ' = New/Refill, '0 ' = Adjustment, '1-' = Reversal	 	 	 	Yes
	Rx	 	SECONDARY_PAYOR_NAME	 	text	 	Secondary Payor Name	 	Express Scripts, Medco, Caremark, etc.	 	Medco	 	Yes
	Rx	 	SECONDARY_PAYOR_TYPE	 	text	 	MCAID - Medicaid, MCARE - Medicare, CASH, TPP - other Third Party Plan	 	 	 	TPP	 	Yes
	Rx	 	TERTIARY_PAYOR_NAME	 	text	 	Tertiary Payor Name	 	Express Scripts, Medco, Caremark, etc.	 	Medco	 	Yes

 

    	Confidential	 	18

     

    

 

 

 

Exhibit G: Usage Data

 

	DEA #	 	Member

Name	 	City	 	State	 	NDC	 	Product

Name	 	Package	 	Units	 	Gross 

(WAC) Sales

Dollars
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Confidential	 	19

     

    

 

 

 

Exhibit H

Services

 

		I.	Data Services

 

		1.	Provide efficient data collection and reporting to Supplier on a monthly basis. Data collection includes the following:

		a.	Unit sales data by Participating Member pharmacy for financial reporting

		b.	Prescription level data

		2.	Information Technology support. This support relates to maintaining systems needed for sales and related reporting

		a.	Detailed reporting to Hemispherx on program results, including trend analysis, by pharmacy, by prescriber, etc.

		b.	Names and addresses of prescribers will be made available to Hemispherx which may use these for periodic interviews and communication
with prescribers.

		c.	Actionable reporting that can help drive tactical responses in the field and strategic product planning. To the extent possible,
this reporting will include repeat purchases, rates of, basis for prescriptions, competitive information.

 

		II.	Participant Screening

 

		1.	Screen all potential participating pharmacies based on Supplier criteria in an effort to expanding Supplier specialty pharmacy
base to approved Specialty Pharmacies.

		a.	Armada will screen/filter all potential pharmacies based on manufacturer criteria

		b.	Screening may include:

	i.	 	SP service level criteria set by Supplier

	ii.		On-site visit conducted by Armada personnel for pharmacy profiling

	iii.		Breadth of insurance coverage of each Specialty Pharmacist (SP)

	iv.		Location, consistent with patient (condyloma) demographics

	v.		Specialty Pharmacist’s (SP) service level criteria set by Hemispherx

	vi.		Pharmacy sales force or not and size.

	vii.		Pharmacy brand and value , to be used to enhance efficacy

	viii.		On-site visit by Armada sales people to profile pharmacies

		c.	Authorization letter to be required upon completion of profile and approval by Supplier

 

		III.	Patient Support Program (“Program”) 

 

		1.	Increase Patient Compliance and Length of Therapy via targeted HIPPA compliant patient interactions
performed by Armada.

 

		2.	ELIGIBLE PATIENTS AND EXCLUSIONS. Patients eligible to participate in the Program are those who
meet all of the criteria set forth in below (collectively, the “Eligible Patients”).

 

		a.	To be eligible to participate in the Program, a patient must meet all of the following criteria

 

	i.		such patient must be prescribed the Product and not otherwise be excluded by state or federal law from participating in the
Program;

	ii.		such patient must receive the Product from a Pharmacy dispensing pharmacy participating in the Program; and

	iii.		such patient; must not be a resident of the State of California.

 

		3.	PROGRAM DESCRIPTION: The Program will focus on increasing patient adherence to the physician prescribed
therapy for patients through the following Product specific patient support services:

 

    	Confidential	 	20

     

    

 

 

 

		a.	New to Program Call: Armada will call each eligible patient to whom Pharmacy dispenses
Product with the purpose of (a) setting treatment expectations, (b) outlining treatment benefits, (c) uncovering and addressing
additional barriers to treatment and (d) affording the patient the opportunity to opt-in to the Program.

 

	i.		Performed by: Pharmacy Tech, Nurse or Pharmacist.

	ii.		Method: Telephone.

	iii.		Intervention Schedule: Initiated within eight days of patient’s fill.

	iv.		Attempts: A maximum of three call attempts.

 

		b.	Welcome to Program Letter: Armada will mail to enrolled patients information such
as an overview of the Program, a clinical education on the therapy and condition and other relevant welcome-to-therapy content,
including a description of the method(s) by which enrolled patients may opt-out of the Program.

 

	i.		Performed by: Automated process.

	ii.		Method: Letter mailed to the patient address on file.

	iii.		Intervention Schedule: At the time of enrollment in the Program.

 

		c.	Late to Refill Call: Armada will call and assist enrolled patients with respect to
placing refills and addressing any barriers to therapy. The content of the call will vary according to the enrolled patient’s
needs.

 

	i.		Performed by: Pharmacy Tech, Nurse or Pharmacist.

	ii.		Method: Telephone.

	iii.		Intervention Schedule: Initiated when an enrolled patient is confirmed to have not filled a prescription five to seven days
after the original refill date. Each Late to Refill Call will occur within fifteen days of the original refill date.

	iv.		Attempts: A maximum of three call attempts.

 

		d.	Unable to Reach Letter:

 

	i.		Performed by: Automated process.

	ii.		Method: Letter mailed to the patient address on file.

	iii.		Intervention Schedule: After three attempts have been made by telephone to call the enrolled patient after such patient’s
failure to refill.

 

		IV.	Sales and Marketing Support at Launch and Ongoing

 

		1.	Armada will designate Brian Burke, Vice President of Marketing, as Project Manager, to develop, coordinate and manage
all aspects of the Hemispherx Program implementation with appropriate personnel from each member pharmacy. The Project Manager
will have access to all Armada resources to assure schedules are met, the implementation is smooth, and the success of the program
is maximized.

 

		2.	The first most practical step in the deployment of this program is to leverage the combined resources of both Hemispherx field
staff and Armada member pharmacies in their respective geographies. Armada will work with our member pharmacies to pro-actively
meet and coordinate efforts with Hemispherx managers. Armada member pharmacies have developed many valuable relationships with
prescribing physician offices in their service areas.

 

		3.	A Launch Packet will be developed and distributed to all Armada participating pharmacies within 90 days after execution of
this Agreement. This launch packet will include:

		a.	Two separate web-based training sessions be developed and conducted for Participating Pharmacies wherein Armada can generate
excitement and commitment to the Hemispherx program. One of these will pertain to the medical and clinical aspects of Alferon N
including an overview of Hemispherx and another will pertain to the Sales, Promotional, and Pricing Program for Alferon N.

 

    	Confidential	 	21

     

    

 

 

 

		b.	Prepared discussion scripts to guide the pharmacist in the essential talking points applicable to Alferon N with both patients
and prescribers.

		c.	Promotional and educational brochures and booklets for physicians and patients which Armada will see are distributed by Participating
Pharmacies.

		d.	Presentations regarding clinical studies of Alferon N.

		e.	Web sites where Participating Pharmacies can find and direct physicians and patients to find information on Alferon N and the
condition(s) it treats.

		f.	When and as needed and doable, developing pharmacy branded communications materials to further promote program awareness.

		g.	Armada will identify the major prescribing physicians and separate them into Tier 1 (High volume prescribers) equals 1-2Rx/day,
Tier 2 < 1Rx. Initially concentrate sales efforts on Tier 1 prescribers.

 

		4.	Armada will undertake the following on-going actions and activities

 

	i.		Providing on-going promotion to Participating Pharmacies, both physical and e-media.

	ii.		Providing product related training to pharmacists for Alferon-N including the scope and terms of the Alferon-N purchasing program

	iii.		Providing general training on patient support programs when available.

	iv.		Training pharmacies on the patient support programs available

	v.		To the extent possible, determine why they prescribe Alferon N or why not and for what type patients.

 

    	Confidential	 	22

     

    

 

 

Exhibit I

Adverse Events

 

Armada represents that it and
each Participating Member agree to comply with
any and all governmental laws, regulations and/or orders that are applicable now and in the future in connection with adverse experience
collection and reporting. Provider agrees to comply with Supplier’s instructions, as set forth below, surrounding the reporting
of adverse experiences to Suppier that have been reported to Armada or Participating Member.

 

		(a)	A serious adverse experience (AE) is any adverse drug experience occurring at any dose that results
in any of the following outcomes: death, a life-threatening adverse drug experience, inpatient hospitalization or prolongation
of existing hospitalization, a persistent or significant disability or a congenital birth defect.

 

		(b)	Unexpected adverse drug experience is defined as:

 

		(i)	Any adverse drug experience that is not listed in the current labeling for the drug product. This
includes events that may be symptomatically and pathophysiologically related to an event listed in the labeling but differ from
the event due to greater severity or specificity. Unexpected, as used in this definition, refers to an adverse drug experience
that has not been previously observed (included in the labeling).

 

		(c)	Certain information, while not meeting the above definition of an AE/ADR, shall nonetheless be
transmitted to Hemispherx. This information, hereinafter referred to as “Other Information Reportable to Hemispherx,”
includes:

 

		(i)	A case involving a pregnancy exposure to the product, except for exposure to prenatal vitamins;

		(ii)	Report of lactation exposure to the product; or

		(iii)	AE(s)/ADR(s) of special interest as designated by Hemispherx or a local regulatory authority.

 

		(d)	Hemispherx shall be solely responsible for all pharmacovigilance activities regarding the Product
including but not limited to: adverse experience or adverse drug reaction reporting including literature review and associated
reporting; AE/ADR follow-up reporting; preparation and submission of all safety reports to the FDA as required per US Code of Federal
Regulations (CFR), title 21 §314.80; maintaining the global safety database; all interactions with health authorities; periodic
submission; labeling modifications; risk management; safety monitoring an detection and safety measure (e.g., Dear Doctor Letter,
restriction on distribution).

 

    	Confidential	 	23

     

    

 

 

		(e)	To the extent Provider or any of its employees or agents become aware of or receive any information
regarding an AE/ADR or Other Information Reportable to Hemispherx associated with the use of a Product, Provider shall promptly
provide Hemispherx with such information within two (2) calendar days of the date received by Provider or any of its employees
or agents. Provider shall attempt to obtain the minimal criteria needed to report an AE/ADR. Minimal criteria includes the following:

 

		(i)	Knowledge of a patient or specific patient identified (e.g., date of birth, age or gender);

		(ii)	A suspect Hemispherx medicinal product

		(iii)	An identifiable reporting source (e.g., doctor. Dentist, nurse or consumer, their name and address
if available); and

		(iv)	Suspected AE/ADR.

 

		(f)	All AE/ADR or Other Information Reportable to Hemispherx received by Provider or any of its employees
or agents shall be forwarded (by fax or overnight mail) in English to Hemispherx on Provider’s standard form (a sample of
which is shall be provided by Hemispherx) within two (2) calendar days of the date received by Provider or any of its employees
or agents. Information shall be sent as follows to Supplier:

 

		1.	Facsimile: [To be provided] or

		2.	Overnight courier to:

 

[To be provided]

 

    	Confidential	 	24ex10-1.htm

Exhibit 10.1

 

SIXTH amendment to AMENDED AND
RESTATED credit AGREEMENT AND WAIVER

 

This Sixth Amendment to Amended and Restated Credit Agreement and Waiver dated as of January 12, 2017 (this “Amendment”), is made by and among American AgCredit, PCA, in its capacity as agent under the Credit Agreement referred to below (in such capacity, “Agent”), the “Lenders” under and as defined in such Credit Agreement, Royal Hawaiian Orchards, L.P., a Delaware limited partnership (“RHO”), Royal Hawaiian Services, LLC, a Hawaii limited liability company (“RHS”), and Royal Hawaiian Macadamia Nut, Inc., a Hawaii corporation (“RHMN” and, together with RHO and RHS, collectively “Borrowers” and each, a “Borrower” and, together with any other “Credit Party” under and as defined in the Credit Agreement, the “Credit Parties”), and RHO, as Borrower Representative, with reference to the following:

 

RECITALS

 

A.     Agent, Lenders, and the Credit Parties are parties to that certain Amended and Restated Credit Agreement, dated as of March 27, 2015, as amended by a First Amendment to Amended and Restated Credit Agreement dated as of June 15, 2015, a Second Amendment to Amended and Restated Credit Agreement dated as of June 29, 2015, a Third Amendment to Amended and Restated Credit Agreement dated as of September 22, 2015, a Fourth Amendment to Amended and Restated Credit Agreement and Waiver dated as of March 11, 2016, and a Fifth Amendment to Amended and Restated Credit Agreement and Consent dated as of June 30, 2016 (as it may be further amended, restated, modified or supplemented from time to time, the “Credit Agreement”).

 

B.     The Credit Parties have requested that Agent and Lenders agree to amend the terms of the Credit Agreement and to waive the occurrence of one or more Events of Default, and Agent and Lenders are willing to do so on the terms and conditions set forth in this Amendment.

 

In consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

ARTICLE I
ACKNOWLEDGMENTS, AGREEMENTS, and waiver

 

Section 1.1     Affirmation of Recitals; Defined Terms. Each Credit Party acknowledges and confirms that each of the recitals set forth above is true and correct. Capitalized terms used in this Amendment without being defined shall have the meaning given to those terms in the Credit Agreement (including any new or modified terms arising out of this Amendment).

 

Section 1.2     Outstanding Indebtedness. Each Credit Party acknowledges and confirms that all amounts owed by the Credit Parties to Agent and Lenders under the Loan Documents are duly and validly owing and that such amounts are not subject to any defense, counterclaim, recoupment or offset of any kind.

 

 

[6th Amendment -- Royal Hawaiian]

 

1

 

 

Section 1.3     Amendment Fee. In consideration of Agent and Lenders entering into this Amendment, Borrowers shall pay to Agent and Lenders an amendment fee (the “Amendment Fee”) of Seven Thousand Eighty-Seven and 50/100 Dollars ($7,087.50). The Amendment Fee shall be allocated among Agent and Lenders as determined by Agent and Lenders in their sole discretion. The Amendment Fee shall be due and payable upon and as a condition to the effectiveness of this Amendment. The Amendment Fee shall be considered fully earned upon receipt and no portion thereof shall be refundable to Borrowers under any circumstances. 

 

Section 1.4     Existing Events of Default. Each Credit Party acknowledges that Borrowers have failed to comply with the provisions of the Credit Agreement as set forth under the heading “Existing Events of Default” on Exhibit A hereto (collectively, the “Existing Events of Default”).

 

Section 1.5     Continuing Defaults. With respect to each Existing Event of Default, each Credit Party acknowledges that (a) such Existing Event of Default is continuing and has not been waived by virtue of any previous actions (or failure to act) by Agent or Lenders through any course of conduct or course of dealing or otherwise and (b) as a result of the existence of each such Existing Event of Default, Agent and Lenders have the right to, among other things, (i) immediately terminate the Commitments, (ii) declare the Loans (with accrued interest thereon) and all other Obligations to be immediately due and payable, and (iii) exercise any and all other rights and remedies available to Agent and Lenders under the Credit Agreement and the Loan Documents.

 

Section 1.6     Waiver of Existing Events of Default. Agent and Lenders hereby agree to waive each of the Existing Events of Default. This is a one-time waiver only. Should any Events of Default exist in the future that are similar in kind or character to the Existing Events of Default, such Events of Default are not waived by Agent or Lenders and Agent and Lenders reserve all of their rights and remedies with respect to such future Events of Default.

 

Section 1.7     Waiver Only Extends to Existing Events of Default. Agent and Lenders have not waived and are not waiving any Defaults or Events of Default other than the Existing Events of Default, regardless of whether Agent and Lenders are aware of the existence or occurrence of such other Defaults or Events of Default.

 

ARTICLE II
AMENDMENTS TO CREDIT AGREEMENT

 

Section 2.1     Amendment of Definition of 2015 Bridge Loan Maturity Date. The definition of “2015 Bridge Loan Maturity Date” in Section 1.01 is hereby amended to delete “January 15, 2017” and replace it with “July 15, 2017”.

 

Section 2.2     Amendment of Definition of Revolving Loan Termination Date. The definition of “Revolving Loan Termination Date” in Section 1.01 is hereby amended to delete “March 27, 2017” and replace it with “July 15, 2017”.

 

 

[6th Amendment – Royal Hawaiian]

 

2

 

 

Section 2.3     Amendment of Section 2.11(c). The first sentence of Section 2.11(c) is hereby amended to read as follows:

 

The 2015 Bridge Loan shall bear interest at a rate per annum equal to the LIBOR plus 3.00% or the Base Rate plus 1.00%, as selected by Borrower Representative in its Notice of Borrowing or Notice of Conversion/Continuation (subject to Borrowers’ right to convert to other Types of Loans under Section 2.06); provided that such amounts shall increase to the LIBOR plus 3.25% and the Base Rate plus 1.25% on April 15, 2017.

 

Section 2.4     Amendment of Section 8.15(a). Section 8.15(a) is hereby amended to read as follows:

 

(a)    Consolidated EBITDA. Borrowers shall not permit Consolidated EBITDA for the four-quarter period ending on March 31, 2017 and for the four-quarter period ending on the last day of each fiscal quarter thereafter to be less than $2,500,000.

 

 

ARTICLE III
CONDITIONS TO EFFECTIVENESS

 

Section 3.1     Conditions Precedent. The effectiveness of this Amendment is subject to the satisfaction of the following conditions:

 

(a)     receipt by Agent of duly executed counterparts of this Amendment from each Credit Party and all Lenders; 

 

(b)     receipt by Agent of the Amendment Fee;

 

(c)     satisfaction of all conditions precedent set forth in any closing checklist delivered by Agent to Borrowers; and

 

(d)     if required by Agent, Borrowers shall have paid all reasonable and documented out-of-pocket costs and expenses of Agent and Lenders in connection with this Amendment, the Loan Documents and the transactions contemplated hereby including an estimate of such costs anticipated in connection with closing (it being understood that if Agent elects not to require payment prior to closing, Borrowers shall promptly pay such amounts upon being billed therefor by Agent).

 

 

[6th Amendment – Royal Hawaiian]

 

3

 

 

ARTICLE IV
MISCELLANEOUS

 

Section 4.1     Representations and Warranties. Each Credit Party hereby represents and warrants to Agent and Lenders that, as of the date hereof, (a) each Credit Party has the legal power and authority to execute and deliver this Amendment; (b) the officers of each Credit Party executing this Amendment have been duly authorized to execute and deliver the same and bind each Credit Party with respect to the provisions hereof; (c) the execution and delivery hereof by each Credit Party and the performance and observance by each Credit Party of the provisions hereof do not violate or conflict with any organizational document of any Person party hereto or any law applicable to any Credit Party or result in a breach of any provision of or constitute a default under any other agreement, instrument or document binding upon or enforceable against any Credit Party; (d)  no Default or Event of Default exists under the Credit Agreement other than any Events of Default being waived by this Amendment, nor will any occur immediately after the execution and delivery of this Amendment or by the performance or observance of any provision hereof; (e) no Credit Party is aware of any claim or offset against, or defense or counterclaim to, any of their obligations or liabilities under the Credit Agreement or any other Loan Document; (f) this Amendment and each document executed by any Credit Party in connection herewith constitute the valid and binding obligations of the applicable Credit Party, enforceable against such Credit Party in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability; and (g) each of the representations and warranties made by such Credit Party in the Credit Agreement and in the other Loan Documents is true and correct in all material respects on and as of such date to the same extent as though made on and as of such date, except to the extent that any thereof expressly relate to an earlier date, in which case, such representations and warranties were true and correct in all material respects on and as of such earlier date.

 

Section 4.2     Release. Each Credit Party hereby releases, remises, acquits and forever discharges Agent and each of Lenders and their respective employees, agents, representatives, consultants, attorneys, fiduciaries, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations, and related corporate divisions (collectively, the “Released Parties”), from any and all actions and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses of any and every character, known or unknown, direct and/or indirect, at law or in equity, of whatsoever kind or nature, for or because of any matter or things done, omitted or suffered to be done by any of the Released Parties prior to and including the effectiveness of this Amendment, and in any way directly or indirectly arising out of or in any way connected to the Credit Agreement or the Loan Documents (collectively, the “Released Matters”). Each Credit Party acknowledges that the agreements in this paragraph are intended to be in full satisfaction of all or any alleged injuries or damages arising in connection with the Released Matters. 

 

Each Credit Party hereby waives the provisions of any statute or doctrine to the effect that a general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. Without limiting the generality of the foregoing, each Credit Party hereby waives the provisions of any statute that prevents a general release from extending to claims unknown by the releasing party, including Section 1542 of the California Civil Code which provides:

 

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

 

 

[6th Amendment – Royal Hawaiian]

 

4

 

 

Each Credit Party acknowledges and understands the rights and benefits conferred by such a statute or doctrine and the risks associated with waiver thereof, and after receiving advice of counsel, hereby consciously and voluntarily waives, relinquishes and releases any and all rights and benefits available thereunder, insofar as they apply, or may be construed to apply, to each release set forth herein or contemplated hereby. In so doing, each Credit Party expressly acknowledges and understands that it may hereafter discover facts in addition to or different from those that it now believes to be true with respect to the subject matter of the disputes, claims and other matters released herein, but expressly agrees that it has taken these facts and possibilities into account in electing to make and to enter into this release, and that the releases given herein shall be and remain in effect as full and complete releases notwithstanding the discovery or existence of any such additional or different facts or possibilities.

 

This release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against any action, suit, or other proceeding that may be instituted, prosecuted or attempted in breach of this release. Each Credit Party acknowledges that the release contained herein constitutes a material inducement to Agent and each of the Lenders to enter into this Amendment and that Agent and those Lenders would not have done so but for Agent’s and each Lender’s expectation that such release is valid and enforceable in all events.

 

Section 4.3     Covenant Not to Sue. Each Credit Party, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Released Party that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any Released Party on the basis of any Released Matter. If any Credit Party or any of its successors, assigns or other legal representatives violates the foregoing covenant, such Credit Party, for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other damages as any Released Party may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Released Party as a result of such violation.

 

Section 4.4     Loan Documents Unaffected. Except as otherwise specifically provided herein, all provisions of the Credit Agreement and the other Loan Documents shall remain in full force and effect and be unaffected hereby. The parties hereto acknowledge and agree that this Amendment constitutes a “Loan Document” under the terms of the Credit Agreement. 

 

Section 4.5      Guarantor Acknowledgement. Any Guarantor, by signing this Amendment:

 

(a)     consents and agrees to and acknowledges the terms of this Amendment;

 

(b)     acknowledges and agrees that all of the Loan Documents to which Guarantor is a party or otherwise bound shall continue in full force and effect and that all of Guarantor’s obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment;

 

(c)     represents and warrants to Agent and Lenders that all representations and warranties made by Guarantor and contained in this Amendment or any other Loan Document to which it is a party are true and correct in all material respects on and as of the date of this Amendment to the same extent as though made on and as of such date, except to the extent that any thereof expressly relate to an earlier date; and

 

 

[6th Amendment – Royal Hawaiian]

 

5

 

 

(d)     acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, Guarantor’s consent to this Amendment is not required under the terms of the Credit Agreement or any other Loan Document or as a matter of law, and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of Guarantor to any future amendments to, modifications of, consents under, or forbearances or waivers with regard to, the Credit Agreement.

 

Section 4.6     Costs, Expenses and Taxes.     Borrowers agree to pay on demand all reasonable and documented out-of-pocket costs and expenses of Agent in connection with the preparation, execution, delivery, administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder, including the reasonable and documented fees and out-of-pocket expenses of counsel for Agent with respect thereto and with respect to advising Agent as to its rights and responsibilities hereunder and thereunder. Borrowers further agree to pay on demand all reasonable and documented out-of-pocket costs and expenses, if any (including reasonable and documented counsel fees and expenses), in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Amendment and any other instruments and documents to be delivered hereunder, including reasonable and documented counsel fees and expenses in connection with the enforcement of rights under this section. In addition, Borrowers shall pay any and all stamp and other taxes payable or determined to be payable in connection with the execution and delivery of this Amendment and any other instruments and documents to be delivered hereunder, and agrees to save Agent harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. The foregoing agreements shall be in addition to and not in lieu of any similar obligations under the Loan Documents.

 

Section 4.7     No Other Promises or Inducements. There are no promises or inducements that have been made to any party hereto to cause such party to enter into this Amendment other than those that are set forth in this Amendment. This Amendment has been entered into by each Credit Party freely, voluntarily, with full knowledge, and without duress, and, in executing this Amendment, no Credit Party is relying on any other representations, either written or oral, express or implied, made to any Credit Party by Agent or any Lender. Each Credit Party agrees that the consideration received by each Credit Party under this Amendment has been actual and adequate.

 

Section 4.8     No Course of Dealing. Each Credit Party acknowledges and agrees that, (a) this Amendment is not intended to, nor shall it, establish any course of dealing between the Credit Parties, Agent and Lenders that is inconsistent with the express terms of the Credit Agreement or any other Loan Document, (b) notwithstanding any course of dealing between the Credit Parties, Agent and Lenders prior to the date hereof, except as set forth herein, Lenders shall not be obligated to make any Loan, except in accordance with the terms and conditions of this Amendment and the Credit Agreement, and (c) neither Agent nor Lenders shall be under any obligation to forbear from exercising any of their respective rights or remedies upon the occurrence of any Default or Event of Default other than those that have been waived under this Amendment. Nothing herein modifies the agreements among Agent and Lenders with respect to the exercise of their respective rights and remedies under the terms of the Credit Agreement. 

 

 

[6th Amendment – Royal Hawaiian]

 

6

 

 

Section 4.9     No Waiver. Each Credit Party acknowledges and agrees that (a) except as expressly provided herein, this Amendment shall not operate as a waiver of any right, power or remedy of Agent or Lenders under the Credit Agreement or any other Loan Document, nor shall it constitute a continuing waiver at any time, and (b) nothing herein shall in any way prejudice the rights and remedies of Agent or Lenders under the Credit Agreement, any Loan Document or applicable law. In addition, Agent and Lenders shall have the right to waive any condition or conditions set forth in this Amendment, the Credit Agreement or any other Loan Document, in their sole discretion, and any such waiver shall not prejudice, waive or reduce any other right or remedy that Agent or Lenders may have against any Credit Party.

 

Section 4.10     Reaffirmation. Each Credit Party, as debtor, grantor, pledgor, guarantor, assignor, or in any other similar capacity in which such Credit Party grants liens or security interests in its property or otherwise acts as accommodation party or guarantor, as the case may be, hereby (a) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party (after giving effect hereto) and (b) to the extent such Person granted liens on or security interests in any of its property pursuant to any such Loan Document as security for the Obligations under or with respect to the Loan Documents, ratifies and reaffirms such grant of security interests and liens and confirms and agrees that such security interests and liens hereafter secure all of the Obligations as amended hereby. Each Credit Party hereby acknowledges that each of the Loan Documents remains in full force and effect and is hereby ratified and reaffirmed. The execution of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or any Lender, constitute a waiver of any provision of any of the Loan Documents or serve to effect a novation of the Obligations. Each Credit Party acknowledges that all references in the Credit Agreement to the “Agreement” or the “Credit Agreement” shall mean the Credit Agreement, as amended hereby, and all references in the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby.

 

Section 4.11     Modification; Waiver. This Amendment may not be modified orally, but only by an agreement in writing signed by the parties hereto. Any provision of this Amendment can be waived, amended, supplemented or modified by written agreement of the parties hereto. 

 

Section 4.12     Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS.

 

Section 4.13     Entire Agreement. This Amendment sets forth the entire agreement and understanding among the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements, and undertakings of every kind and nature among them with respect to the subject matter hereof. 

 

Section 4.14     Counterparts; Facsimile or Electronic Transmission of Signature. This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. The manual signature of any party hereto that is transmitted to any other party or its counsel by facsimile or electronic transmission shall be deemed for all purposes to be an original signature.

 

 

[6th Amendment – Royal Hawaiian]

 

7

 

 

Section 4.15     Severability of Provisions; Captions; Attachments; Interpretation. Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The captions to Sections and subsections herein are inserted for convenience only and shall be ignored in interpreting the provisions of this Amendment. Each schedule or exhibit attached to this Amendment shall be incorporated herein and shall be deemed to be a part hereof. Words in the singular include the plural and words in the plural include the singular. Use of the term “includes” or “including,” shall mean “including, but not limited to.” 

 

Section 4.16     JURY TRIAL WAIVER. EACH OF THE UNDERSIGNED, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT AND FOR ANY COUNTERCLAIM HEREIN

 

[Remainder of page intentionally left blank; signatures begin on following page.]

 

 

[6th Amendment – Royal Hawaiian]

 

8

 

 

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

 

BORROWERS:

 

ROYAL HAWAIIAN ORCHARDS, L.P., a Delaware limited 

partnership

 

	 	
By: 
	
Royal Hawaiian Resources, Inc., a Hawaii corporation, 

its managing general partner

 

By:  /s/ Bradford Nelson                       

Name:   Bradford Nelson                       

Title:   President                                      

 

 

ROYAL HAWAIIAN SERVICES, LLC, a Hawaii limited 

liability company

 

	 	
By: 
	
Royal Hawaiian Orchards, L.P., a Delaware limited 

liability company, its member

 

By:      Royal Hawaiian Resources, Inc., a Hawaii 

corporation, its managing general partner

 

By:  /s/ Bradford Nelson                            

Name:   Bradford Nelson                            

Title:   President                                          

 

ROYAL HAWAIIAN MACADAMIA NUT, INC., a Hawaii corporation

 

By:  /s/ Scott Wallace                           

Name:   Scott Wallace                           

Title:   President                                     

 

 

 

 

 

 

Signature Page 1

 

 

[6th Amendment – Royal Hawaiian]

 

1

 

 

BORROWER REPRESENTATIVE: 

 

ROYAL HAWAIIAN ORCHARDS, L.P., a Delaware limited 

partnership

 

	 	
By: 
	
Royal Hawaiian Resources, Inc., a Hawaii corporation, 

its managing general partner

 

By:  /s/ Bradford Nelson                              

Name:   Bradford Nelson                              

Title:   President                                            

 

 

 

[Signature Pages Continue]

  

Signature Page 2

 

 

[6th Amendment – Royal Hawaiian]

 

2

 

 

AMERICAN AGCREDIT, PCA,

as Agent and Lender

 

By:   /s/ Dennis P. Regli                                                                   

Name: Dennis P. Regli

Title: Vice President

 

  

Signature Page 3

 

 

[6th Amendment – Royal Hawaiian]

 

3

 

 

EXHIBIT A

 

EXISTING EVENTS OF DEFAULT

 

1.     Borrowers failed to comply with the Consolidated EBITDA covenant set forth in Section 8.15(a) of the Credit Agreement with regard to the four-quarter period ending on December 31, 2016. Such failure constitutes an Event of Default under Section 9.01(c) of the Credit Agreement.

 

2.     An “Event of Default” occurred under and as defined in that certain Credit Agreement dated as of June 15, 2015, among Royal Hawaiian Orchards, L.P. and American AgCredit, FLCA due to a failure by Royal Hawaiian Orchards, L.P. to comply with the Total Indebtedness to Consolidated EBITDA Ratio covenant set forth in Section 8.15(a) of such credit agreement with regard to the quarter ending on December 31, 2016. Such occurrence constitutes an Event of Default under Section 9.01(f) of the Credit Agreement.

 

 

 

[6th Amendment – Royal Hawaiian]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00265-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00265-of-00352.parquet"}]]