Document:

Exhibit 10.1

 

 

Credit Granting
Agreement

 

 

No.:                     

 

 

 

Credit Grantor: China Merchants Bank Ningbo
Branch (hereinafter referred to as "Party A")

 

Credit Applicant: GLOBAL Technology Inc.
(hereinafter referred to as "Party B")

 

 

Based on Party B's application, Party A hereby
agrees to provide Party B with a credit line. Party A and Party B have reached consensus on the following terms and have entered
into this Credit Granting Agreement (“Agreement”) through sufficient mutual negotiation in accordance with the relevant
laws and regulations.

 

		1.	Credit Line

 

		1.1	Under this Agreement, Party A shall provide Party B with a credit line (including the revolving credit line and/or the one-time
credit line) of RMB Sixty Million (or an equivalent amount in other currencies, the exchange rate of which shall be the
foreign exchange rate quoted by Party A at the time the credit in such currency is used).

 

	 	If Party A (or Party A's subsidiaries) and Party B have signed a Credit Granting Agreement numbered    /   
    and in the event that there is an unliquidated balance related to this Agreement, such balance will be automatically included
    in this Agreement and use the credit line hereunder.

 

		1.2	The credit period is 12 months, which starts from April 19, 2019 and ends on April 18, 2020. If Party
B needs to use the credit line for Credit Business, it shall submit an application to Party A for use of the credit line during
the credit period. Unless otherwise provided in this Agreement, Party A will not accept Party B's credit line use applications
that are submitted beyond the credit period.

 

		1.3	Credit Business includes but is not limited to one or more of the following: loans/order loans, trade financing, bill discounting,
commercial bill acceptance, commercial acceptance bill confirmation/guarantee, international/domestic guarantee, customs tax payment
guarantee, corporation overdraft, derivative transactions, and gold leasing.

 

		 	Trade Financing includes but is not limited to international/domestic letters of credit,
                                                                              import bill purchase, delivery guarantee, import bills purchased under collection, packing loans, export bill purchase,
                                                                              export negotiation, export bills purchased under collection, import/export remittance financing, credit insurance financing, factoring, and commercial paper guarantees.

 

		1.4	Revolving Credit Line refers to the maximum amount of the sum of the principal and the balance of one or more type(s) of Credit
Business mentioned in the preceding paragraph and provided by Party A to Party B during the credit period, which can be used continuously
and circularly.

 

		 	One-time Credit Line refers to the cumulative amount of various types of Credit Business
                                                                                   mentioned in the preceding paragraph and provided by Party A to Party B during the credit period, which shall not exceed the
                                                                                   one-time credit line amount approved by Party A. Party B shall not use the one-time credit line circularly. The amount of
                                                                                   multiple types of Credit Business applied by Party B shall start using the one-time credit line amount until it is fully
                                                                                   exhausted.

 

 

 

    
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		2.	Occupation Arrangements for the Credit Line

 

		2.1	The specific Credit Business that has been applied by Party B and approved by Party A during the credit period shall be automatically
included in this Agreement and shall use the credit line hereunder.

 

		2.2	Party A's creditor's rights in accounts receivable acquired from a third party in which Party B is the payer (the debtor of
accounts receivable) shall use the above credit line. When Party A's own funds or funds from other legal sources that are used
to pay the acquisition price/purchase price of which the creditor's rights in accounts receivable are held by Party B shall occupy
the above credit line.

 

		2.3	If Party A, after issuing a letter of credit (L/C), entrusts other branches of China Merchants Bank to transfer the L/C to
the beneficiary according to its internal process requirements, such issuance as well as the bill purchase and delivery guarantee
business that occurs under such issuance shall occupy the above credit line.

 

		 	When handling the import L/C business, if import bill purchase is actually incurred under the
                                                                               same L/C, the import L/C and the import bill purchase shall occupy the same credit line at different stages. In other words,
                                                                               when the import bill purchase business occurs, the amount recovered after the L/C is paid out will be used for the import
                                                                               bill purchase, with the same credit line used by the original import L/C.

 

		3.	Approval and Use of the Credit Line

 

		3.1	The category of the credit line (revolving credit line or one-time credit line) under this Agreement, the types of applicable
Credit Business, the specific amount of credit line for various types of Credit Business, whether various types of credit business
are reversible, and the specific conditions of use shall be subject to the approval of Party A. If Party A adjusts its original
approval opinions based on Party B's application during the credit period, the subsequent approval opinions given by Party A shall
constitute supplements and changes to the original or preceding approval opinions, and so on.

 

		3.2	Party B shall submit an application each time it plans to use the credit line, and shall submit the materials requested by
Party A and proceed upon receipt of Party A's approval of each application. Party A is entitled to decide whether to approve the
application based on its internal management requirements and Party B's operation conditions, or to unilaterally refuse Party B's
application without any legal liability. If the provisions of this paragraph are inconsistent with other provisions of this Agreement,
the former shall prevail.

 

		 	When handling a specific type of Credit Business upon receipt of Party A's approval, the
                                                                               corresponding business agreement signed by and between Party A and Party B (including but not limited to a single
                                                                               agreement/application, framework agreement, or specific business contract) shall constitute an integral part of
                                                                               this Credit Granting Agreement. The business terms such as the specific amount, interest rate, period, purpose, and
                                                                               expenses of each loan or others shall be determined by the specific business agreement, business vouchers confirmed by Party
                                                                               A (including but not limited to loan notes), and the business records in Party A's system.

 

		3.3	The period of use for each loan or other credits within the credit line shall be determined according to Party B's business
needs and Party A's business management regulations. The due date of specific business may be later than that of the credit period
(unless otherwise required by Party A).

 

		3.4	During the credit period, Party A is entitled to assess Party B's operation and financial status on an annular basis, and adjust
the credit line that Party B can use.

 

 

 

    
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		4.	Party B's Rights and Obligations

 

		4.1	Party B is entitled to:

 

		4.1.1	Request Party A to provide loans or other credits within the credit line in accordance with the requirements stipulated in
this Agreement.

 

		4.1.2	Use the credit line in accordance with the provisions of this Agreement.

 

		4.1.3	Request Party A to keep the confidentiality of the production, operation, property, account, and other information provided
by Party B, except as otherwise provided in this Agreement.

 

		4.1.4	Transfer the debt to a third party after obtaining the written consent of Party A.

 

		4.2	Party B shall undertake the following obligations:

 

		4.2.1	Truthfully provide the documents and materials required by Party A (including but not limited to providing its financial books/statements
and annual financial reports, major decisions and changes in its production, operation, and management, fund withdrawal/use information,
and information about the collateral) and all of its banks of deposit, bank accounts, and balance of deposits and loans, and cooperate
with Party A's investigation, examination, and inspection.

 

		4.2.2	Accept Party A's supervision over its use of credit funds and the related production, operation, and financial activities.

 

		4.2.3	Use loans and/or other credit lines in accordance with the provisions of this Agreement and the provisions and/or promised
purposes of specific business agreements.

 

		4.2.4	Punctually repay the principal, the interest, and pertinent expenses of loans, advances, and other debts in full in accordance
with the provisions of this Agreement and specific business agreements.

 

		4.2.5	Transfer all or part of the debts hereunder to a third party after obtaining the written consent of Party A.

 

		4.2.6	Party B shall notify Party A immediately when any of the following circumstances occurs, and shall actively cooperate with
Party A to implement safeguard measures for proper repayment of the principal, the interest, and pertinent expenses of loans, advances,
and other debts under this Agreement:

 

		4.2.6.1	Party B encounters a major financial loss, asset loss, or other financial crises.

 

		4.2.6.2	Party B provides loans, guarantees, or warranties to third parties, or uses its own properties (rights) to provide mortgage
(pledge) guarantees.

 

		4.2.6.3	Party B suspends its business, has its business license revoked or canceled, files for or is filed for bankruptcy, dissolution,
etc., or has changes in important enterprise information, such as the company name, registered address, place of business, and
beneficial owners.

 

		4.2.6.4	Party B's controlling shareholders, other affiliated companies, or actual controllers encounter a major operation or financial
crisis that affects Party B's normal operation, or Party B has personnel changes in its legal representative, person in charge,
directors, or senior management personnel, or such personnel are punished, their personal freedom being restricted by the relevant
state authority or missing for more than seven days that may affect Party B's normal operation.

 

 

 

    
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		4.2.6.5	Party B is engaged in related transactions with its controlling shareholders, other affiliated companies, or actual controllers
and the amount of such transactions is higher than 10% of Party B's net assets (Party B's notice shall at least cover the relationship
between the parties involved in the transaction, the content, nature, amount, or corresponding proportion of the transaction, and
the pricing policy (including transactions with no amount or only a token amount).

 

		4.2.6.6	Party B is engaged in any litigation, arbitration, or criminal or administrative penalties that have a material adverse effect
on its management or property conditions.

 

		4.2.6.7	Party B or its actual controller is engaged in large sums of informal high-interest loans or has adverse records such as
                                                              rolling over old debts with new borrowing, overdue repayment, or unpaid debt interest in other financial institutions, or
                                                              Party B’s affiliated company encounters a capital chain disruption and debt crisis, or Party B's project is suspended
                                                              or deferred or encounters major investment blunders.

 

		4.2.6.8	Party B encounters other significant circumstances that may affect its debt paying ability.

 

		4.2.7	Party B shall not be slack to manage and claim its due debts, or dispose of existing major assets in a non-reimbursable and
other improper manner.

 

		4.2.8	Party B shall obtain the written consent of Party A before proceeding with major events such as merger & acquisition, spin-off,
restructuring, joint venture (cooperation), transfer of property (stock) rights, shareholding reform, foreign investment, and increase
of debt financing.

 

		4.2.9	When the accounts receivable is pledged, Party B shall guarantee that the credit balance at any time during the credit period
is less than 80% of the balance of the pledged accounts receivable. Otherwise, Party B must provide new accounts receivable
approved by Party A as the pledge or margin deposit (the account number shall be the one that is generated by or recorded in Party
A's system when the deposit is placed) until the sum of 80% of the balance of the pledged accounts receivable and the effective
margin deposit is larger than the credit balance.

 

		4.2.10	Provided that Party B has pledged the margin deposit, if the balance of the margin account is less than 95% of the amount
of specific business due to exchange rate fluctuations, Party B is obliged to increase the corresponding amount of deposit or provide
other guarantees in accordance with Party A's request.

 

		4.2.11	Party B shall ensure that the sales proceeds generated from import business are collected from the designated account of Party
A. For export negotiations, Party B shall transfer the notes and/or documents under the L/C to Party A.

 

		4.2.12	Party B shall ensure that its settlement and payment activities are mainly carried out through the bank account that it opens
with Party A. During the credit period, Party B's settlement transactions under the designated account shall be no less than the
proportion of Party B's financing amount at Party A against its financing amount in all banks.

 

		5.	Party A's Rights and Obligations

 

		5.1	Party A is entitled to:

 

		5.1.1	Request Party B to punctually repay the principal, the interest, and pertinent expenses of loans, advances, and other debts
under this Agreement and the specific contract in full.

 

		5.1.2	Request Party B to provide information related to the use of its credit line.

 

		5.1.3	Be informed of Party B's production, operation, and financial activities.

 

 

 

    
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		5.1.4	Supervise Party B's use of loans and/or other credits in accordance with the purposes agreed in this Agreement and the specific
business agreements, unilaterally and directly suspend or limit the online banking service of Party B's account (including but
not limited to closing the online banking service and presetting the list of payees/single payment cap/stage payment cap) and other
electronic payment channels when necessary, restrict the sales of settlement vouchers, or restrict the counter payment and transfer
of Party B account, as well as the payment and exchange services of non-counter channels such as telephone banking and mobile banking.

 

		5.1.5	Upon receipt of Party B's application for the issuance of an L/C, entrust other local branches of China Merchants Bank to transfer
the L/C to the beneficiary according to internal process requirements.

 

		5.1.6	Deduct an amount directly from the account that Party B opens with any institution of China Merchants Bank to repay the debts
the Party B owes under this Agreement and specific business agreements (when the debt is not repaid in RMB, Party A is entitled
to directly use the money in Party B's RMB account to purchase foreign exchange based on the exchange rate announced by Party A
at the time of deduction, and then repay the relevant principal, interest, and pertinent expenses).

 

		5.1.7	Transfer its creditor's rights against Party B and notify Party B of the transfer in a manner it deems appropriate, including
but not limited to by fax, post delivery, personal delivery, and announcement on public media, or urge Party B to pay accounts
receivable back.

 

		5.1.8	Supervise Party B's account or entrust other institutions of China Merchants Bank other than Party A to supervise Party B's
account, and control the payment of loan funds according to the loan use and payment scope agreed by both parties.

 

		5.1.9	When Party A discovers that Party B has any of the circumstances stipulated in Article 4.2.6 of this Agreement, Party A is
entitled to request Party B to implement safeguard measures for the proper repayment of the principal, the interest, and pertinent
expenses of the debts hereunder based on Party A's requirements, or to directly seek one or more remedies for breach of contract
as stipulated in the "Events of Default and Handling" clause of this Agreement.

 

		5.1.10	Other rights prescribed under this Agreement.

 

		5.2	Party A shall undertake the following obligations:

 

		5.2.1	Offer loans or other credits to Party B within the credit line in accordance with the provisions of this Agreement and specific
contracts.

 

		5.2.2	Keep the confidentiality of Party B's asset, finance, production, and operation conditions unless otherwise required by laws
and regulations, prescribed by the regulatory body, or provided to Party A's superior or subordinate organizations, or external
audit, accounting, law firms, or other professional institutions undertaking the same confidentiality obligations.

 

		6.	Matters Specifically Guaranteed by Party B

 

		6.1	Party B is a legal entity that was incorporated and is legally existing under the laws of China. It has truthful, legitimate,
and valid registration and annual report publicity procedures, and it has full civil capacity to sign and perform this Agreement.

 

		6.2	Party B's signing and performance of this Agreement have been fully authorized by its board of directors or any other competent
authority.

 

		6.3	The documents, materials, and certificates that Party B provides regarding Party B, the guarantor, the mortgagor (pledgor),
and the collateral (pledge) are truthful, accurate, complete, and valid, and they do not contain any major errors or omissions
that are inconsistent with the facts.

 

 

 

    
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		6.4	Party B will strictly abide by the provisions of specific business agreements and various letters and related documents issued
to Party A.

 

		6.5	Party B is not engaged in any litigation, arbitration, or criminal or administrative penalties that may adversely impact Party
B or Party B's primary properties at the time of signing this Agreement, and such litigation, arbitration, or criminal or administrative
penalties will not occur during the performance of this Agreement. If that occurs, Party B shall immediately notify Party A.

 

		6.6	Party B shall strictly abide by national laws and regulations in its business activities, carry out all sorts of business activities
in strict accordance with the business scope stipulated in Party B's business license or that approved according to law, and handle
registration and annual inspection procedures as well as the business term extension/prolonging procedures on time.

 

		6.7	Party B shall maintain or improve its existing level of operation and management and ensure the preservation and appreciation
of existing assets, and shall not waive the claim of due debts or dispose of existing major assets in a non-reimbursable and other
improper manner.

 

		6.8	Party B shall not pay off other long-term debts in advance without Party A's permission.

 

		6.9	Party B shall not be involved in any other major events that affect the performance of its obligations hereunder at the time
of signing and fulfilling this Agreement.

 

		7.	Other Expenses

 

		 	If this Agreement involves notarization (except for the notarization for compulsory
                                                                             execution) or other matters involving entrusting a third party to provide services, the relevant expenses shall be borne by
                                                                             the entrusting party. If the two parties jointly act as the entrusting party, each party shall bear 50% of the
                                                                             relevant expenses.

 

		 	Provided that Party B cannot repay the debts owed to Party A hereunder, it shall bear all of
                                                                                   Party A's expenses incurred from realization of the creditor's rights, including the attorney fee, litigation cost, travel
                                                                                   expense, announcement fee, and delivery fee, and it hereby authorizes Party A to deduct such expenses directly from its bank
                                                                                   account. If there is any shortfall, Party B hereby warrants that it will make up the shortfall upon receipt of Party A's
                                                                                   notice, and Party A does not need to provide any proof.

 

		8.	Events of Default and Handling

 

		8.1	Party B shall be deemed to be in breach of contract under any of the following circumstances:

 

		8.1.1	Party B fails to perform or violate the obligations of this Agreement.

 

		8.1.2	Party B's special guarantees hereunder are untruthful or incomplete, or Party B violates its special guarantees and fails to
correct such violation according to Party A's requirements.

 

		8.1.3	Party B has a material breach of contract under a legally valid contract that it previously signed with other creditors, and
such breach is not resolved within three months from the date of the default.

 

		 	The foregoing material breach of contract means that Party B's default subjects Party B to
                                                                                     creditor claim for more than RMB One Million.

 

		8.1.4	If Party B is a New OTC Market listed company or it intends to apply for listing on the New Three Board, but it encounters
major obstacles in the listing or its application is suspended, or the New Three Board market issues a warning letter to Party
B, orders it to make corrections, restricts its trading under securities accounts, or takes other regulatory measures against Party
B for more than three times, or Party B is subject to disciplinary sanctions, termination of listing, or other circumstances.

 

 

 

    
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		8.1.5	When Party B acts as the supplier of government procurement departments, and a government procurement department delays its
payment for three consecutive or cumulative times and such delay constitutes a risk that is not conducive to Party B's repayment
of the credit line granted by Party A, or Party B is disqualified as the supplier (or blacklisted for government procurement),
fails to supply goods in a timely manner, has unstable product quality, has difficulties in operations, faces obviously deteriorated
financial conditions (such as insolvency), or has its projects suspended.

 

		8.1.6	Party B's financial indicators fail to continue meeting the requirements stipulated in this Agreement/specific business agreements,
or any prerequisites (if any) for Party A's provision of the credit line/financing to Party B stipulated in this Agreement/specific
business agreements are not continuously satisfied.

 

		8.1.7	Other circumstances in which Party A believes that its legitimate rights and interests are damaged.

 

		8.2	Provided that the guarantor has one of the following circumstances and Party A believes that it may affect the guarantor's
guarantee capacity, therefore Party A requires the guarantor to exclude the adverse effects caused thereby or requires Party B
to increase or change its guarantee conditions. If the guarantor or Party B fails to cooperate, it shall be deemed that an event
of default has occurred:

 

		8.2.1	The guarantor or Party B has one of the circumstances similar to that described in Article 4.2.6 of this Agreement, or fails
to obtain the consent of Party A when the circumstances described in Article 4.2.8 occur.

 

		8.2.2	The guarantor conceals its actual capacity to assume the guarantee liability, or fails to obtain authorization from the competent
authority when issuing the irrevocable letter of guarantee.

 

		8.2.3	The guarantor or Party B fails to go through the annual inspection registration procedures and the business term extension/prolonging
procedures.

 

		8.2.4	Party B is slack to manage and claim its due debts, or dispose of existing major assets in a non-reimbursable or other improper
manner.

 

		8.3	Provided that the mortgagor (pledgor) has one of the following circumstances and Party A believes that it may cause the mortgage
(pledge) invalid or cause depreciation of the collateral (pledge), therefore Party A requires the mortgagor (pledgor) to exclude
the adverse effects caused thereby or requires Party B to increase or change its guarantee conditions. If the mortgagor (pledgor)
or Party B fails to cooperate, it shall be deemed that an event of default has occurred:

 

		8.3.1	The mortgagor (pledgor) does not possess the ownership or right of disposition of the collateral (pledge), or there is a dispute
over the ownership.

 

		8.3.2	The collateral (pledge) has been leased, sealed up, detained, supervised, has statutory priority (including but not limited
to the priority of construction project funds), and/or such circumstances that have occurred are concealed.

 

		8.3.3	Without the prior written consent of Party A, the mortgagor shall not transfer, lease, remortgage, or dispose of the collateral
in any other improper manner; or the mortgagor's earnings from disposing of the collateral with the prior written consent of Party
A are not used to repay Party B's debts owed to Party A as required.

 

		8.3.4	The mortgagor fails to properly keep, maintain, and repair the collateral, and as a result the collateral significantly depreciates;
or the mortgagor's behavior directly damages the collateral, resulting in a decrease in the value of the collateral; or the mortgagor
fails to insure/renew the insurance for the collateral during the mortgage period according to Party A’s request.

 

		8.3.5	The collateral has been or may be included in the scope of government demolition and expropriation, but the mortgagor fails
to immediately notify Party A or to fulfill its relevant obligations as stipulated in the mortgage contract.

 

 

 

    
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		8.3.6	The mortgagor uses its mortgaged house property at China Merchants Bank to provide residual value guarantee for matters hereunder,
and it settles the mortgage loan in advance without the consent of Party A before Party B pays off the credit line hereunder.

 

		8.3.7	The pledgor uses its financial products as the pledge, and the source of the subscription fund is illegal or illegitimate.

 

		8.3.8	The collateral (pledge) involves or may involve other matters affecting its value or affecting Party A's right to mortgage
(pledge).

 

		8.4	Provided that the guarantee hereunder includes the pledge of accounts receivable, and the debtor of the accounts receivable
is facing an obvious deterioration of its business operation, transfers its properties/surreptitiously withdraws funds to avoid
its debts, colludes with the pledgor of the accounts receivable to change the repayment route and thus makes the accounts receivable
unable to be paid to the special account for repayment, loses its business reputation, loses or may lose the ability to perform
the agreement, or encounters other major events affecting its solvency, Party A is entitled to request Party B to provide the corresponding
guarantee or provide new and effective accounts receivable for pledge. If Party B fails to do so, it is deemed that an event of
default has occurred.

 

		8.5	When any of the above events of default occurs, Party A is entitled to take the following measures separately or simultaneously:

 

		8.5.1	Reduce the credit line hereunder or stop the use of the remaining credit line.

 

		8.5.2	Recover the principal, the interest, and pertinent expenses that have been previously issued within the credit line.

 

		8.5.3	For bills of exchange that Party A has accepted or letters of credit, letters of guarantee, delivery guarantees, etc. that
Party A has issued during the credit period, regardless of whether Party A has made the advanced payment, Party A may request Party
B to increase the margin deposit, to transfer the bank savings in Party B's other accounts opened with Party A to Party A's margin
account as the deposit for its future advanced payment hereunder, or to hand over the corresponding funds to an escrow account
as Party A's deposit for the advanced payment for Party B.

 

		8.5.4	For Party A's unliquidated creditor's rights in accounts receivable acquired from Party B under factoring business, Party A
is entitled to request Party B to fulfill it repurchase obligations immediately and take other recovery measures in accordance
with the requirements of the relevant specific business agreement. For Party A's creditor's rights in accounts receivable against
Party B that is acquired under factoring business, Party A is entitled to claim debts against Party B immediately.

 

		8.5.5	Depending on the circumstances, Party A may directly request Party
                                         B to provide other acceptable properties as a new guarantee. If Party B fails to provide
                                         the new guarantee as required, it shall pay    /   % of the credit
                                         line amount hereunder as liquidated damages.

 

		8.5.6	Party A is entitled to directly freeze/confiscate the bank savings in Party B's settlement account and/or other accounts at
China Merchants Bank, stop opening new settlement accounts for Party B, and stop issuing new credit cards to Party B's legal representative.

 

		8.5.7	Party A is entitled to submit Party B's default information to credit bureaus and banking associations, and to share such information
among banking institutions and even make it available to the public by proper means.

 

		8.5.8	Party A is entitled to dispose of the pledge and/or claim debts against the guarantor in accordance with the provisions of
the letter of guarantee.

 

		8.5.9	Party A is entitled to claim debts in accordance with the provisions of this Agreement.

 

		8.6	For funds that Party A obtains through claims of debts, the funds will be used for repayment based on the actual due dates
of various credit lines from the latest to the earliest. The specific repayment order of various credit lines shall be repaying
the expenses, liquidated damages, compound interest, default interest, interest first, and then repaying the principal of the credit
line until the principal, the interest, and all pertinent expenses are paid off.

 

 

 

    
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		 	Party A is entitled to unilaterally adjust the above repayment sequence, unless otherwise
                                                                                required by laws and regulations.

 

		9.	Guarantee Clauses

 

		9.1	For all debts that Party B owes to Party A hereunder, Party B or a third party approved by Party A shall provide the property
mortgage or pledge guarantee or joint guarantee, and Party B or the third party acting as the guarantor shall issue or sign another
letter of guarantee at the request of Party A.

 

		9.2	If the guarantor fails to sign the letter of guarantee and complete the guarantee procedures in accordance with the provisions
of this article (including the circumstance in which the debtor of accounts receivable raises a pleabefore the pledge of the accounts
receivable), Party A is entitled to refuse to provide Party B with a credit line.

 

		9.3	Provided that the mortgagor has provided real estate mortgage guarantee for all debts that Party B owes to Party A hereunder,
if Party B knows that the collateral has been or may be included in the scope of government demolition and expropriation, it shall
notify Party A immediately and urge the mortgagor to continue using the government's compensation to provide guarantee for Party
B's debts in accordance with the mortgage contract, to complete the corresponding guarantee procedures in a timely manner, or to
provide other safeguard measures accepted by Party A in accordance with Party A's requirements.

 

		 	When it is necessary to reset the guarantee or take other safeguard measures as the
                                                                               collateral is involved in the aforesaid circumstances, the mortgagor shall assume the relevant expenses incurred and Party B
                                                                               shall be held jointly and severally liable for the expenses. Party A is entitled to deduct such expenses directly from Party
                                                                               B's account.

 

		10.	Miscellaneous

 

		10.1	During the validity period of this Agreement, Party A's treatment of Party B's any default or delay, or Party A's postponed
or delayed exercise of its rights or interests shall not impair, influence, or limit all the rights and interests Party A is entitled
to as the creditor in accordance with the relevant laws and regulations and this Agreement, or be deemed as Party A's permission
or approval of any breach of this Agreement or be deemed that Party A has waived its right to take actions against existing or
future defaults.

 

		10.2	If this Agreement becomes legally invalid in full or in part for whatever reason, Party B shall be liable for repayment of
all debts that it owes to Party A hereunder. If that happens, Party A is entitled to terminate the performance of this Agreement
and may immediately claim all debts owed by Party B hereunder.

 

		 	If Party A faces a cost increase during the performance of the obligations hereunder because
                                                                             of any changes in the applicable laws and policy requirements, Party B shall compensate Party A for the increased cost as
                                                                             required.

 

		10.3	Party A and Party B shall send notices, requests, or other documents related to this Agreement in written form (including but
not limited to by letter, fax, email, Party A's online banking, SMS, or WeChat).

 

		10.3.1	Any notice, request, or other document that is delivered by a specially-assigned person (including but not limited to by a
lawyer, notary, or courier) shall be deemed to have been served when the recipient signs on it (if the recipient refuses to accept
it, it shall be deemed to have been served seven days after the date of rejection, return, or delivery (whichever is earlier)).
Any notice, request, or other document that is delivered by postal letter shall be deemed to have been served seven days after
the date of delivery. Any notice, request, or other document that is delivered by fax, email, Party A's online banking, mobile
phone SMS, WeChat, or other electronic means shall be deemed to have been served on the date when the sender's corresponding system
shows successful delivery.

 

 

 

    
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		 	If Party A informs Party B of the transfer of creditor's rights or claims debts against Party
                                                                             B by means of issuing an announcement on public media, it shall be deemed to have been served on the date of the announcement
                                                                             being issued.

 

		 	If either party changes its contact address, email address, fax number, mobile phone number,
                                                                             or WeChat ID, it shall notify the other party of such changes within five working days from the date of the change.
                                                                             Otherwise, the other party is entitled to deliver any notice, request, or other document according to the original contact
                                                                             address or information. If the delivery fails because of contact address or information changes, the date of return or seven
                                                                             days after the date of delivery (whichever is earlier) shall be deemed to be the date of service. The party involving such
                                                                             changes shall bear the losses incurred thereby and such changes do not affect the legal effect of service.

 

		10.3.2	Both parties' contact address, email address, fax number, mobile phone number, and WeChat ID listed in this Agreement shall
be used as their respective address for service of notary documents and judicial documents (including but not limited to the indictment/arbitration
application, evidence, subpoena, notice of appearance, notice of adducing evidence, notice of court session, notice of hearing,
written judgment/arbitration award, written verdict, mediation agreement, notice of time-limited performance, and legal instruments
at the hearing and execution stages). Such documents shall be deemed to have been served when the court or the notary office has
delivered the written documents to the address prescribed herein (refer to the preceding paragraph for specific service provisions).

 

		10.4	Both parties agree that for business applications under the trade financing business, Party B shall stamp Party A's reserved
seal on such applications, and both parties shall recognize the validity of the seal.

 

		10.5	When Party B submits applications for credit business through Party A's online banking system, its electronic signature
generated by the digital certificate shall be deemed as a valid signature of Party B, which represents Party B's real intentions.
Party A is entitled to fill in the relevant business vouchers based on the application information submitted online, and Party
B shall acknowledge its authenticity, accuracy, and legality and be bound by it.

 

		10.6	The written supplemental agreements between Party A and Party B with respect to uncovered matters in and changes to this Agreement,
and the specific business agreements hereunder shall constitute an integral part of this Agreement.

 

		10.7	Party A's operations involved in transactions (including but not limited to the acceptance of applications, data review, loan
offering, transaction confirmation, withholding, query, receipt printing, debt collection, and payment deduction and various notifications)
can be handled, generated, issued, or produced by any business outlet of Party A. The business operations and correspondence of
the outlets shall be deemed to be Party A's behavior and be binding upon Party B.

 

		10.8	The annexes to this Agreement shall form an integral part of this Agreement and they are automatically applicable to the specific
business that actually occurs between the parties.

 

		10.9	In accordance with Party A's requirements, Party B shall (check the items below):

 

			 ̈ Insure
                                                                                                                             its core assets and designate Party A as the primary beneficiary.

 

			 ̈ Not
                                                                                                                             sell or mortgage the    /    assets designated by Party A before its debts are paid
                                                                                                                             off.

 

			 ̈ Make
                                                                                                                                              the following restrictions on the dividends paid to its shareholders as required by Party
                                                                                                                                              A before its debts are paid off:   /  

 

		10.10	Party B shall ensure that Party B's financial targets for the credit period meet the following requirements:    /   

 

 

 

    
	 	10	 

     

    

 

		10.11	Party B accepts all items under the Group Credit Granting Cooperation Agreement numbered  /  (including the adjustments
and supplements made by the signing parties from time to time), which is signed by and between China Merchants Bank  /  and
Party B's parent company/head office/holding company  /  (fill in the company name), and it agrees to be bound by the agreement
and also agrees to assume its obligations as a subordinate unit under the agreement. If Party B fails to do so, it shall be deemed
to have breached the contract, and Party A is entitled to seek remedies as stipulated herein.

 

		10.12	Other agreed matters: If the credit line that has been converted into the financing currency at the current exchange rate
is less than 100% of the specific business amount due to exchange rate fluctuations, Party B is obliged to provide additional margin
or other guarantee conditions in accordance with Party A's request. The term "current" in this paragraph refers to any
point in time when Party A checks the exchange rate starting from the date on which the credit line hereunder becomes effective
to the date on which the credit applicant's debts under the credit line are paid off.

 

		11.	Applicable Laws and Dispute Resolution

 

		11.1	The conclusion, interpretation, and dispute resolution of this Agreement shall be governed by the laws of the People's Republic
of China (excluding laws of Hong Kong, Macao, and Taiwan), and the rights of both parties shall be guaranteed by the laws of the
People's Republic of China.

 

		11.2	The disputes arising during the performance of this Agreement shall be settled by the two parties through negotiation. If the
negotiation fails, either party may (check one of the three methods below):

 

		 	þ
11.2.1 File a lawsuit to the People's Court with jurisdiction where Party A is located.

 

			 ̈ 11.2.2
                                                                                                                                             File a lawsuit to the People's Court with jurisdiction where this Agreement is signed.
                                                                                                                                             This Agreement is signed at     /  

 

			 ̈ 11.2.3
                                                                                                                                              Apply to    /   for arbitration (fill in the name
                                                                                                                                              of the arbitration institution). The place of arbitration is     /  

 

		11.3	After this Agreement and the specific business agreements have been granted the notarization with compulsory execution effect
as processed by Party A and Party B, Party A may, in order to claim the debts owed by Party B under this Agreement and the specific
business agreements, apply directly to the People's Court with jurisdiction for compulsory execution.

 

		12.	Commencement of This Agreement

 

		 	This Agreement shall become effective after Party A's and Party B's legal representatives,
                                                                               main persons in charge, or authorized agents sign (or affix seals with their names) and affix their official seals/special
                                                                               contract seals on it, and shall become automatically invalid upon expiration of the credit period or when Party B's all debts
                                                                               owed to Party A hereunder and all other related expenses are paid off, whichever is later.

 

		13.	Supplementary Provisions

 

		 	This Agreement is made in duplicate, with Party A and Party B each holding one copy
                                                                               with the same legal effect.

 

 

 

    
	 	11	 

     

    

 

Annexes:

 

1. Special Terms for Cross-border Linkage
Trade Financing Business

 

2. Special Terms for Buyer/Import Factoring
Business

 

3. Special Terms for Order Loan Business

 

4. Special Terms for the Discounting of
Commercial Acceptance Bills

 

5. Special Terms for Derivative Transactions
Business

 

6. Special
terms for Gold Leasing Business

 

 

 

 

 

 

 

 

 

 

 

 

 

    
	 	12	 

     

    

 

Annex 1

 

Special Terms
for Cross-border Linkage Trade Financing Business

 

		1.	Cross-border Linkage Trade Financing Business refers to the cross-border trade financing business
that Party B applies to Party A based on Party B's cross-border transactions with overseas companies, which is cooperatively provided
by Party A and the overseas institution of China Merchants Bank (hereinafter referred to as the "linkage platform").

 

		2.	Cross-border linkage trade financing business covers the following varieties, including but not limited
to back-to-back L/C, entrusted issuance, entrusted overseas financing, certified bill payment, overseas credit granting with L/G,
and cross-border trade financing shortcut. The specific meanings and business rules of various business varieties are stipulated
in specific business agreements.

 

		3.	Under the back-to-back L/C business, the overriding credit that Party B applies to Party A shall directly
occupy the credit line hereunder. Under the overriding credit, the bills of exchange or advance payments (whether they occur within
the credit period) that Party A handles to fulfill the issuing bank obligation and the pertinent interests and expenses shall constitute
Party B's financing debts owed to Party A, and shall be included in the scope of credit guarantee.

 

Under the entrusted issuance/entrusted overseas
financing business, the L/C or trade financing that Party A entrusts the linkage platform to issue or provide to the overseas company
according to Party B's application shall occupy the credit line hereunder. If Party A issues fund for inward bills purchased under
collection or provides advance payment to Party B for external payments, such fund or advance payment (whether it occurs within
the credit period) and the pertinent interests and expenses shall directly constitute Party B's financing debts owed to Party A,
and shall be included in the scope of credit guarantee.

 

Under the certified bill payment business,
Party A shall directly occupy the credit line hereunder and certify the payment of Party B's acceptance bills based on Party B's
application. If Party B fails to pay the full amount of bills on time, Party A is entitled to directly prepay on the certified
bills. The prepayment (whether it occurs during the credit period) and the pertinent interests and expenses shall be included in
the scope of credit guarantee.

 

Under the overseas credit granting with L/G
business, Party A shall directly occupy the credit line hereunder in accordance with the L/G or standby L/C that Party B applies
for issuance. After the overseas company transfers the right of payment collection (rather than the right of claim) under the L/G
to the linkage platform and the linkage platform claims payment from Party A according to the L/G or standby L/C, Party A's prepayment
(whether it occurs during the credit period) and the pertinent interests and expenses shall directly constitute Party B's financing
debts owed to Party A and shall be included in the scope of credit guarantee.

 

Under the cross-border trade financing shortcut
business, after Party A approves Party B's application for trade financing, the trade financing that the linkage platform directly
provides to Party B shall occupy the credit line hereunder. If Party B fails to repay the linkage platform's trade financing in
full, Party A is entitled to repay it by means of a bill of exchange or advance payment. The relevant bill of exchange or advance
payment (whether it occurs during the credit period) and the pertinent interests and expenses shall directly constitute Party B's
financing debts owed to Party A and shall be included in the scope of credit guarantee.

 

 

 

    
	 	13	 

     

    

 

Annex 2

 

Special Terms
for Buyer/Import Factoring Business

 

		1.	Definitions

 

		1.1	Buyer/Import Factoring Business refers to Party A, as the buyer/import factor, acquires the accounts
receivable (of which Party B is the debtor) from the seller/export factor under the commercial contract, and provides the seller/export
factor with comprehensive factoring services including certified payment, accounts receivable collection, and management.

 

Under the buyer/import
factoring business, if Party B faces any buyer's credit risks, Party A shall assume the certified payment obligation to the seller/export
factor. If a dispute arises during the performance of the commercial contract, Party A shall be entitled to re-transfer the acquired
accounts receivable to the seller/export factor.

 

		1.2	Seller/Export Factor refers to the party who signs the factoring business agreement with the supplier/service
provider (the accounts receivable creditor) under the commercial contract, and acquires the accounts receivable held by the accounts
receivable creditor. Party A can act as the buyer/import factor and the seller/export factor at the same time.

 

		1.3	Disputes refer to the defenses, counter-claims, offsets, or similar acts that Party B has against
the accounts receivable acquired by Party A because of disputes between the accounts receivable creditor and Party B over the goods,
services, invoices, or any other commercial contract issues, and third parties' claims for the accounts receivable hereunder or
applications for inquiry, suspension, or deduction. A dispute is deemed to have occurred when any accounts receivable that Party
A acquires cannot be realized in full or in part for reasons other than the buyer's credit risks.

 

		1.4	Commercial Contract refers to the business contract signed between Party B and the accounts receivable
creditor for the purpose of commodity trading and/or service trading, which takes sale on credit as the settlement method.

 

		1.5	Certified Payment/Payment under Guarantee means when Party B faces any buyer's credit risks, Party
A shall pay the corresponding accounts receivable amount to the seller/export factor within a certain period after the due date
of the accounts receivable.

 

		2.	Upon application, Party A agrees to handle the buyer/import factoring business within the credit line
for Party B, and Party B's accounts receivable acquired from the seller/export factor shall be deducted from/shall occupy the credit
line hereunder based on the specific amount.

 

When Party A, as
the buyer/import factor, fulfills its certified payment/payment guarantee obligations to make payments and pay the pertinent expenses,
it shall be deemed as Party A's granting credit to Party B under the Credit Granting Agreement, and the payments and pertinent
expenses shall be included in the scope of Party B's credit guarantee. Party A is entitled to take measures stipulated under this
Agreement to claim the certified payment/guaranteed payment from Party B. As long as Party A has transferred the accounts receivable
during the credit period, Party A is entitled to claim payment from Party B in accordance with the Credit Granting Agreement
and the commercial contract even if such claims are made beyond the credit period.

 

		3.	Buyer/import factoring fee

 

The factoring fee
shall be the business management fee that Party A collects for providing the buyer/import factoring service. Party A shall collect
the factoring fee from Party B at a certain ratio of the accounts receivable amount at the time of acquisition. The specific rate
shall be reasonably determined by Party A according to its business rules.

 

		4.	For disputes arising out of the performance of the commercial contract, Party B shall waive its right
to raise an objection. In view of this, regardless of whether there are other agreements, provided that Party B fails to make payment
in accordance with provisions of the commercial contract, it shall be deemed that Party B has a buyer's credit risk, Party A will
proceed the certified payment, and Party B has no objection to this.

 

 

 

    
	 	14	 

     

    

 

Annex 3

Special Terms
for Order Loan Business

 

		1.	Order Loan Business refers to the loan business that Party A, based on the commercial contracts (or
engineering contracts) signed between Party B and its downstream customers, issues to Party B for the daily production and operation
regarding the performance of its commercial contracts (or the performance of its engineering contracts) and uses the sales contract
cash inflow (or project cash inflow) as the primary source of repayment.

 

		2.	Party B shall open a special account for the cash inflow of its sales orders under the commercial
contracts (or engineering contracts) with Party A. The cash inflow of all sales orders under the commercial contracts (or engineering
contracts) and in connection with the order loan must be directly paid to the special account. The special account shall not be
used or changed without the approval of Party A. Party B shall notify the payer that the special account is the only account for
the cash inflow of its sales orders. Party A is entitled to deduct funds from the special account for repayment of the principal,
interest, default interest, and other related expenses of the order loan financing.

 

		3.	When any of the following circumstances occurs, Party A may immediately stop Party B's use of the
credit line under the Credit Granting Agreement and take default management measures accordingly:

 

		3.1	Party B's downstream customers have delayed payment for three consecutive periods, and Party A, based
on its reasonable judgment, believes that their financial position has deteriorated, which is not conducive to protecting Party
A's rights as the creditor.

 

		3.2	Party B is disqualified from being the supplier by its downstream customers because of Party B's delayed
supply of goods, unstable product quality, construction without downstream customers' approval or failing to follow the engineering
contract, lowered qualifications that fail to meet downstream customers' requirements, or operation difficulties and deteriorated
financial position based on Party A's reasonable judgment, or because Party B's cash inflow from downstream customers is less than
the total monthly due amount of financing contracts under this credit line for three consecutive months, or the downstream customers
fail to make payment in installments in accordance with the engineering contract for two consecutive periods.

 

 

 

 

 

 

 

 

    
	 	15	 

     

    

 

Annex 4

 

Special Terms
for the Discounting of Commercial Acceptance Bills

 

		1.	Discounting of Commercial Acceptance Bills refers to the discounting business that Party A offers
to commercial acceptance bills accepted by Party B or that Party A allows the holder to process at any branches of China Merchants
Bank (hereinafter referred to as "other discounting acceptance banks"). The holder (hereinafter referred to as the "discounting
applicant") may apply to Party A or other discounting acceptance banks for discounting of commercial acceptance bills. The
discounting business shall all occupy the credit line under this Agreement.

 

Considering that
Party A's provision of the discounting service for commercial acceptance bill acceptors to Party B is the precondition for other
discounting acceptance banks' acceptance of bill holders' discounting applications, other discounting acceptance banks are entitled
to transfer the discounted bills to Party A after the discounting business is completed, and Party A is obliged to accept the transfer.
For Party A's commercial acceptance bills acquired from other discounting acceptance banks, Party B promises that it will pay for
the bills unconditionally upon the due date, and the parties have no objection to this.

 

		2.	The commercial acceptance bills mentioned in this clause include both paper commercial acceptance
bills and electronic commercial acceptance bills (hereinafter referred to as "e-bills"), or both commercial acceptance
bills with the discounting applicant paying the interest and commercial acceptance bills with the buyer paying the interest.

 

Commercial acceptance
bills with the buyer paying the interest means when Party A processes the discounting of commercial acceptance bills issued and
accepted by Party B, the discounting interest is paid by Party B.

 

		3.	During the credit period, Party B shall open a commercial acceptance bill margin account with Party
A (the account number shall be the one generated or recorded by Party A's system when the margin is deposited) and before each
bill is accepted, deposit a certain amount of funds to the margin account according to Party A's requirements. The funds will be
used as Party B's payment bond for the acceptance of commercial acceptance bills that Party A offers a discounting.

 

Party B shall deposit
the full amount of payables to its margin account opened with Party A before the due date of each commercial acceptance bill, for
the bills to be paid on time.

 

		4.	During the credit period, the discounting applicant may use commercial acceptance bills accepted by
Party B to apply for discounting to Party A directly, or apply for discounting to other discounting acceptance banks. Party A or
other discounting acceptance banks are entitled to conduct qualification examinations on discounting applicants, request Party
B to conduct audit verifications, and decide whether the corresponding discounting would be accepted.

 

After other discounting
acceptance banks have completed the discounting, they are entitled to endorse and transfer the discounted commercial acceptance
bills to Party A in accordance with the relevant provisions of China Merchants Bank. After Party A has processed the discounting
or accepted commercial acceptance bills from other discounting acceptance banks, Party B shall pay Party A the payables in full
unconditionally and in a timely manner when required.

 

		5.	The issuance and discounting of each e-bill shall be subject to the business information stored in
PBOC's electronic billing system, or business records such as customer statements filled in or printed accordingly. Party A's business
records are an integral part of this annex, and have the same legal effect as this annex. Party B acknowledges the accuracy, authenticity,
and legitimacy of these records.

 

		6.	If a dispute arises out of the basic contract for commercial acceptance bills accepted by Party A
within the credit line, Party B and the parties concerned shall coordinate and resolve it. Before each bill falls due, Party B
is still obliged to pay for the margin and the bills in full and in a timely manner according to the foregoing agreement.

 

		7.	If Party A has discounted a commercial bill accepted by Party B or has accepted a commercial bill
previously accepted by Party B from other discounting acceptance banks, Party A is entitled to deduct money from any of Party B's
deposit accounts at China Merchants Bank for payment if Party B fails to pay the full amount before the due date of the commercial
acceptance bill. If Party B fails to pay the full amount or Party A offers an advance payment because of insufficient balance in
Party B's account, Party A shall collect a default interest at five percent of the advance payment in accordance with relevant
provisions of the Payment and Settlement Measures.

 

 

 

    
	 	16	 

     

    

 

Annex 5

 

Special Terms
for Derivative Transactions Business

 

		1.	For derivatives transactions that Party A conducts upon acceptance of Party B's application, they
may occupy the credit line at a certain ratio of the principal/transaction amount. When a derivative transaction has floating losses,
Party A may increase the occupied Party B's credit line according to the specific agreement between the parties (when each transaction
actually occurs, Party A shall determine the amount of the occupied credit line based on the type, deadline, and risk degree of
the transaction, and/or the risk degree coefficient of the business corresponding to the deducted credit line, etc.). The amount
of the credit line actually occupied shall be subject to records in transaction documents such as the credit line occupation notice
and/or transaction confirmation/certificate issued by Party A.

 

		2.	Derivative transactions that have balances or losses during the credit period shall occupy the credit
line in accordance with the provisions of the preceding article regardless of whether the date of the transaction falls within
the credit period.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
	 	17	 

     

    

 

Annex 6

 

Special Terms
for Gold Leasing Business

 

		1.	Gold Leasing refers to the business in which Party A leases physical gold to Party B, and upon expiration,
Party B will return the same amount of gold of the same property and pay the lease fee to Party A on time.

 

		2.	Party A may handle the gold leasing business for Party B within the credit period and the credit line
based on Party B's application. The physical gold leased by Party A shall occupy the credit line with the value prescribed in the
gold lease agreement between both parties, and it shall constitute Party B's debt owed to Party A.

 

 

 

Notes:

 

Both parties have fully negotiated all
terms of this Agreement (including its annexes). Party A hereby reminds Party B of paying special attention to the terms regarding
the exemption or restriction of Party A's liability, Party A's unilateral rights, the increase of Party B's liability, or restriction
of Party B's rights, and requests Party B to fully and accurately understand these terms. Party A has made corresponding explanations
on the above terms at the request of Party B. The parties to the agreement have a consistent understanding of the terms of this
Agreement.

 

(The remainder of this page is intentionally
left blank)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
	 	18	 

     

    

 

(Signature page for the
following Credit Granting Agreement numbered                  )

 

Party A: China Merchants Bank Ningbo
Branch (Seal)

 

 

Main Person in Charge/Authorized
Agent ___________ (Signature/Seal with Name):

 

Address: 342 East Min'an
Road, Yinzhou District, Ningbo City, Zhejiang Province

 

Email:   / 

 

Fax No.:   / 

 

Mobile No.: 13486620006

 

WeChat ID:    / 

 

 

 

 

Party B: GLOBAL Technology Inc.
(Seal)

 

 

Legal Representative/Main Person in Charge/Authorized
Agent (Signature/Seal with Name)

 

Address: 88 Qiushi Road, Wangchun Industrial
Pak, Haishu District, Ningbo City, Zhejiang Province

 

Email:   / 

 

Fax No.:   / 

 

Mobile No.: 18312960127

 

WeChat ID:   / 

 

 

	 	Date of signing: 2019-4-19

 

 

 

 

    
	 	19EX-10.1

 Exhibit 10.1 

CONTINGENT VALUE RIGHTS AGREEMENT 

THIS CONTINGENT VALUE RIGHTS AGREEMENT, dated as of April 17, 2019 (this “Agreement”), is entered into by and among
Mateon Therapeutics, Inc., a Delaware corporation (the “Company”), Oncotelic, Inc., a Delaware corporation (“Oncotelic”), American Stock Transfer & Trust Company, LLC, a New York limited liability trust
company (the “Rights Agent”) and initial CVR Registrar (as defined herein), and Matthew M. Loar, acting solely in his capacity as representative of the Holders (as defined herein) (the “Holder Representative”). 

A.    The Company, Oncotelic Acquisition Corporation, a wholly owned subsidiary of the Company (“Merger
Sub”), and Oncotelic have entered into an Agreement and Plan of Merger dated as of April 17, 2019 (the “Merger Agreement”), pursuant to which Merger Sub will merge with and into the Company (the
“Merger”). 
 B.    Prior to the effectiveness of the Merger, the Company wishes to create and issue
contingent value rights relating to the Legacy Assets (as defined herein) to the record holders of the Common Stock (as defined herein) as of a record date prior to the effectiveness of the Merger. 

C.    On April 4, 2019, the Board of Directors of the Company authorized and declared a dividend of one CVR (as
defined herein) for each share of Common Stock outstanding at 5:01 p.m. Eastern Time on the Record Date (as defined herein). The payment of such dividend will be conditioned upon, and such dividend will only become payable upon, the satisfaction or
waiver of all conditions to the Merger and the occurrence of the time that is immediately prior to the Effective Time (as defined herein). The Company will pay the dividend immediately prior to the Effective Time. 

Accordingly, and in consideration of the premises and the consummation of the transactions referred to above, it is mutually agreed, for the
benefit of the Holders, as follows: 
 ARTICLE I 

DEFINITIONS 

1.1    Definitions. 

(a)    For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:

 (i)    all accounting terms used herein and not expressly defined herein have the meanings assigned to such terms in
accordance with United States generally accepted accounting principles, as in effect on the date hereof; 

(ii)    unless the context otherwise requires, words describing the singular number include the plural and vice versa,
words denoting any gender include all genders and words denoting natural Persons include corporations, partnerships and other Persons and vice versa; 

(iii)    the words “include” and “including” and variations thereof will not be deemed to be terms of
limitation, but rather will be deemed to be followed by the words “without limitation”; 
 (iv)    the terms
“hereof”, “hereunder”, “herein” and words of similar import refer to this Agreement as a whole and not to any particular Article, Section or provision of this Agreement; and 

 (v)    the Article and Section headings contained in this Agreement are
for reference purposes only and do not limit or otherwise affect any of the substance of this Agreement. 
 (b)    The
following terms have the meanings ascribed to them as follows: 
 “Achievement Certificate” has the meaning set forth in
Section 2.4(a). 
 “Affiliates” means, with respect to any Person, any other Person that directly
or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such Person. 
 “Board
of Directors” means the board of directors of the Company. 
 “Board Resolution” means a copy of a resolution
certified by the secretary or an assistant secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Rights Agent and the Holder
Representative. 
 “Business Day” means each day other than a Saturday, Sunday or any other day on which commercial banks
in San Francisco, California are authorized or required by law to close. 
 “Change of Control” means any of the following
transactions occurring after the Effective Time of the Merger: (x) (i) any consolidation or merger of the Company with or into any other corporation or entity or Person or (ii) any other corporate reorganization, in which the
stockholders of the Company immediately prior to such consolidation, merger or reorganization, own less than 50% of the voting power of the surviving entity immediately after such consolidation, merger or reorganization, or (y) any sale of all
or substantially all of the assets of the Company. 
 “Close of Business” on any given date means 5:00 p.m., Eastern
Time, on such date; provided, however, that if such date is not a Business Day it will mean 5:00 p.m., Eastern Time, on the next succeeding Business Day. 

“Common Stock” means the common stock, $0.01 par value, of the Company. 

“CVR Payment Amount” means an amount equal to seventy-five percent (75%) of the Net Proceeds received by the Company in
connection with a Legacy Transaction occurring after the Effective Time. All payments of any CVR Payment Amount to Holders pursuant to this Agreement shall be made, to the extent possible, in the same form in which such payments were received by the
Company. To the extent any property other than cash is received by the Company as Net Proceeds, the Board of Directors may determine in its discretion, within sixty (60) days of the receipt of such property, to liquidate such property for cash,
at which time the Net Proceeds resulting from such liquidation shall be paid to the Holders. 
 “CVR Payment Date” means
the date (if any and if ever) that a CVR Payment Amount is payable by the Company to the Holders, which date will be established pursuant to Section 2.4. 

“CVR Register” has the meaning set forth in Section 2.3(b). 

“CVR Registrar” has the meaning set forth in Section 2.3(b). 

“CVRs” means the contingent value rights issued by the Company pursuant to this Agreement. 

  
 2 

 “Effective Time” means the effective time of the Merger, pursuant to the
Merger Agreement. The Company shall notify the Rights Agent of the Effective Time promptly after the occurrence thereof. 

“Holder” means a Person in whose name a CVR is registered in the CVR Register. 

“Holder Representative” means the Holder Representative named in the first paragraph of this Agreement, until a successor
Holder Representative has become such pursuant to the applicable provisions of this Agreement, and thereafter “Holder Representative” will mean such successor Holder Representative. 

“Legacy Assets” means the intellectual property rights and know-how and related
assets that currently are or have been used in the research and development of the Company’s existing product candidates OXi4503 and CA4P (which is also known as
combretastatin A4-phosphate, fosbretabulin or fosbretabulin tromethamine and ZYBRESTAT®), including all regulatory filings, clinical and non-clinical safety, efficacy and pharmacokinetic data, and the intellectual property rights set forth in Exhibit A attached hereto. The term “Legacy Assets” refers to the OXi4503 and CA4P product
candidates and related assets in their form and for their currently contemplated uses at the time of the Merger Agreement and does not include any rights or assets discovered after the Merger, whether through enhancement of the product candidates on
a standalone basis, or use of the product candidates in combination with other molecules or products. 
 “Legacy
Transaction” means the full or partial sale, license, transfer or other disposition entered into by the Company with any Person with respect to any one or more of the Legacy Assets, for which one or more definitive agreements shall have
been entered into prior to the Outside Date. For purposes of clarity, more than one transaction can constitute a Legacy Transaction pursuant to this Agreement. 

“Net Proceeds” means the aggregate payments received by the Company after the Effective Time in connection with a Legacy
Transaction, once such payments exceed $500,000, less (i) transaction costs and expenses, such as legal and investment banker fees, incurred or payable by the Company after the Effective Time in connection with the Legacy Transaction,
(ii) patent maintenance fees, and (iii) any applicable sales, income and other taxes in respect of the Legacy Transaction that are incurred or payable after the Effective Time (net of any Company tax benefits resulting from the payment of
any CVR Payment Amount to Holders pursuant to this Agreement). Amounts placed in escrow or earnout or other contingent payments in connection with a Legacy Transaction will not be considered Net Proceeds unless and until (and only to the extent
that) such amounts are released from escrow or otherwise paid to the Company. 

“Non-Achievement Certificate” has the meaning set forth
in Section 2.4(b). 
 “Notice of Objection” has the meaning set forth
in Section 2.4(c). 
 “Objection Period” has the meaning set forth
in Section 2.4(c). 
 “Officer’s Certificate” means a certificate signed by the chief
executive officer, president, chief financial officer or secretary of the Company, in his or her capacity as such an officer, and delivered to the Rights Agent and the Holder Representative. 

“Outside Date” means the date that is four (4) years after the Effective Time. 

“Permitted Transfer” means: (i) the transfer of any or all of the CVRs (upon the death of the Holder) by will or
intestacy; (ii) transfer by instrument to an inter vivos or testamentary trust in which the CVRs are to be passed to beneficiaries upon the death of the trustee; (iii) transfers made pursuant to a court

  
 3 

 
order of a court of competent jurisdiction (such as in connection with divorce, bankruptcy or liquidation); (iv) if the Holder is a partnership or limited liability company, a pro-rata distribution by the transferring partnership or limited liability company to its partners or members, as applicable; (v) a transfer made by operation of law (including a consolidation or merger) or in
connection with the dissolution, liquidation or termination of any corporation, limited liability company, partnership or other entity; (vi) a transfer from a participant’s account in a tax-qualified
employee benefit plan to the participant or to such participant’s account in a different tax-qualified employee benefit plan or to a tax-qualified individual
retirement account for the benefit of such participant; or (vii) a transfer from a participant in a tax-qualified employee benefit plan, who received the CVRs from such participant’s account in such tax-qualified employee benefit plan, to such participant’s account in a different tax-qualified employee benefit plan or to a
tax-qualified individual retirement account for the benefit of such participant. 

“Person” means an individual, a corporation, a limited liability company, a partnership, an association, a trust or any other
entity or organization, including a government or political subdivision or any agency or instrumentality thereof. 
 “Record
Date” means April 18, 2019. 
 “Rights Agent” means the Rights Agent named in the first paragraph of this
Agreement, until a successor Rights Agent has become such pursuant to the applicable provisions of this Agreement, and thereafter “Rights Agent” will mean such successor Rights Agent. 

“Rights Agent Fee” means the agreed-upon fee of the Rights Agent to act in such capacity pursuant to the terms of this
Agreement. 
 “Surviving Person” has the meaning set forth in Section 6.1(a)(i). 

ARTICLE II 
 CONTINGENT
VALUE RIGHTS 
 2.1    Authority; Issuance of CVRs; Appointment of Rights Agent. 

(a)    The Company has all requisite corporate power and authority to execute and deliver this Agreement and to consummate
the transactions contemplated by this Agreement. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of the Company and no
other corporate proceedings on the part of the Company are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. Neither the execution and delivery of this Agreement nor the consummation of the transactions
contemplated hereby will (i) result in any violation of any provision of the Certificate of Incorporation or By-laws of the Company, or (ii) result in any violation of any loan or credit agreement,
note, mortgage, indenture, lease, or other agreement, obligation, instrument, permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Company or its properties or assets which
violation, in the case of clause (ii), individually or in the aggregate, would reasonably be expected to be material to the Company. No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental
Entity (as defined in the Merger Agreement) is required by or with respect to the Company in connection with the execution and delivery of this Agreement by the Company or the consummation by Company of the transactions contemplated hereby. 

(b)    One CVR will be issued with respect to each share of Common Stock that is outstanding as of 5:01 p.m. Eastern
Time on the Record Date. 

  
 4 

 (c)    The Company hereby appoints American Stock Transfer &
Trust Company, LLC as the Rights Agent to act as rights agent for the Company in accordance with the instructions hereinafter set forth in this Agreement, and American Stock Transfer & Trust Company, LLC hereby accepts such appointment.

 2.2    Nontransferable. The CVRs may not be sold, assigned, transferred, pledged, encumbered or in any
other manner transferred or disposed of, in whole or in part, other than through a Permitted Transfer. 

2.3    No Certificate; Registration; Registration of Transfer; Change of Address. 

(a)    The CVRs will be issued in book-entry form only and will not be evidenced by a certificate or other instrument. 

(b)    The Rights Agent will keep a register (the “CVR Register”) for the registration of CVRs. The
Rights Agent is hereby initially appointed “CVR Registrar” for the purpose of registering CVRs and permitted transfers of CVRs as herein provided. Upon any change in the identity of the Rights Agent, the successor Rights Agent will
automatically also become the successor CVR Registrar. 
 (c)    Subject to the restrictions on transferability set
forth in Section 2.2, every request made to transfer a CVR must be in writing and accompanied by a written instrument or instruments of transfer and any other requested documentation in a form reasonably satisfactory
to the Company and the CVR Registrar, duly executed by the registered Holder or Holders thereof or by the duly appointed legal representative thereof or by a duly authorized attorney, including the evidence of authority of the party presenting the
CVR for transfer which authority may include, if applicable, a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association. A request for a transfer of a
CVR must be accompanied by such documentation establishing that the transfer is a Permitted Transfer as may be reasonably requested by the Company and/or the CVR Registrar, if appropriate. Upon receipt of such written request and materials, the CVR
Registrar will, subject to its reasonable determination that the transfer instrument is in proper form and the transfer otherwise complies with the other terms and conditions herein, register the transfer of the CVRs in the CVR Register. All duly
transferred CVRs registered in the CVR Register will be the valid obligations of the Company, evidencing the same right and will entitle the transferee to the same benefits and rights under this Agreement as those previously held by the transferor.
No transfer of a CVR will be valid until registered in the CVR Register, and any transfer not duly registered in the CVR Register will be void and invalid. All costs and expenses related to any transfer or assignment of the CVRs (including the cost
of any transfer tax) will be the responsibility of the transferor. 
 (d)    A Holder (or an authorized representative
thereof) may make a request to the CVR Registrar to change such Holder’s address of record in the CVR Register. Upon receipt of such request, the CVR Registrar will promptly record the change of address in the CVR Register. 

2.4    Payment Procedures. 

(a)    Promptly following the occurrence of a Legacy Transaction as to which the Holders are entitled to receive a CVR
Payment Amount, but in no event later than thirty (30) days after the occurrence of such a Legacy Transaction, and within thirty (30) days after the end of any calendar quarter in which the Company has received Net Proceeds, the Company
will deliver to the Holder Representative and the Rights Agent a certificate (the “Achievement Certificate”), certifying that the Holders are entitled to receive a CVR Payment Amount (and setting forth the calculation of the CVR
Payment Amount). 

  
 5 

 (b)    If no Legacy Transaction has been entered into and no Net
Proceeds have been received on or before the Outside Date, then, as soon as reasonably practicable after the Outside Date, but in no event later than thirty (30) days after the Outside Date, the Company will deliver to the Holder Representative
and the Rights Agent a certificate (the “Non-Achievement Certificate”), stating that no Legacy Transaction has been entered into and no Net Proceeds have been received prior to the Outside
Date. 
 (c)    Within thirty (30) calendar days after distribution by the Rights Agent of a Non-Achievement Certificate (the “Objection Period”), the Holder Representative may deliver a written notice to the Company specifying that the Holder Representative objects to the determination of
the Company set forth in the Non-Achievement Certificate (a “Notice of Objection”) and stating the reason upon which the Holder Representative has determined that a Legacy Transaction has been
entered into or that Net Proceeds have been received on or before the Outside Date. Any dispute arising from a Notice of Objection will be resolved in accordance with the procedure set forth in Section 8.10, which
decision will be binding on the parties hereto and every Holder. 
 (d)    If a Notice of Objection has not been
delivered to the Company within the Objection Period, then the Holders will have no right to receive the CVR Payment Amount, and the Company and the Rights Agent will have no further obligations with respect to the CVR Payment Amount. 

(e)    If the Company delivers an Achievement Certificate to the Holder Representative and the Rights Agent or if the CVR
Payment Amount is determined to be payable pursuant to Section 2.4(c) above, the Company will establish a CVR Payment Date that is the earlier of (i) thirty (30) days after the end of the Company’s
fiscal quarter during which the Achievement Certificate is delivered or (ii) thirty (30) days after the date of final determination pursuant to Section 2.4(c) above, as applicable. At least five
(5) Business Days before such CVR Payment Date, the Company will cause the CVR Payment Amount to be delivered to the Rights Agent, and in turn, on the CVR Payment Date, the Rights Agent will distribute the CVR Payment Amount to the Holders
(each Holder being entitled to receive its pro rata share of the CVR Payment Amount based on the number of CVRs held (as of the date of the Achievement Certificate or the date of final determination pursuant
to Section 2.4(c) above, as applicable) by such Holder as reflected on the CVR Register) (i) by check mailed to the address of each such respective Holder as reflected in the CVR Register as of the Close of
Business on the last Business Day before such CVR Payment Date, or, (ii) with respect to any Holder who has provided the Rights Agent with wire transfer instructions meeting the Rights Agent’s requirements, by wire transfer of immediately
available funds to such account. 
 (f)    The Company will be entitled to deduct and withhold, or cause to be deducted
or withheld, from each CVR Payment Amount otherwise payable pursuant to this Agreement, such amounts as the Company is required to deduct and withhold with respect to the making of such payment under the Internal Revenue Code, or any provision of
state or local tax law. To the extent that amounts are so withheld or paid over to or deposited with the relevant governmental entity, such withheld amounts will be treated for all purposes of this Agreement as having been paid to the Holder in
respect of which such deduction and withholding was made. 
 (g)    Subject to prior execution and delivery by the
Holder Representative of a reasonable and customary confidentiality and market stand-off agreement, the Company will promptly furnish to the Holder Representative all information and documentation in
connection with this Agreement and the CVRs that the Holder Representative may reasonably request in connection with the determination of whether a Legacy Transaction has occurred. The Company will promptly furnish to the Rights Agent all
information and documentation in connection with this Agreement and the CVRs that the Rights Agent may reasonably request in order to perform under this Agreement. 

  
 6 

 (h)    The Company acknowledges that the bank accounts maintained by the
Rights Agent in connection with the services provided under this Agreement will be in the Rights Agent’s name and that the Rights Agent may receive investment earnings in connection with the investment at the Rights Agent’s risk and for
its benefit of funds held in those accounts from time to time. 
 2.5    No Voting, Dividends or Interest; No
Equity or Ownership Interest in the Company. 
 (a)    The CVRs will not have any voting or dividend rights, and
interest will not accrue on any amounts payable on the CVRs to any Holder. 
 (b)    The CVRs will not represent any
equity or ownership interest in the Company. 
 2.6    Company Obligation. 

Notwithstanding anything else in this Agreement to the contrary, the Company’s only obligation in connection with (a) any continued
operation of, development of or investment in the Legacy Assets, (b) pursuing, negotiating or entering into one or more Legacy Transactions, and (c) the terms and conditions of any Legacy Transaction will be to act or forbear from acting
in good faith; provided, however, that to the extent that the Company makes a decision to pursue, engage in, negotiate or enter into a Legacy Transaction, the Company will use commercially reasonable efforts to seek to ensure
that such Legacy Transaction is entered into prior to the Outside Date. 
 ARTICLE III 

THE RIGHTS AGENT 

3.1    Certain Duties and Responsibilities. 

(a)    The Rights Agent will not have any liability for any actions taken or not taken in connection with this Agreement,
except to the extent of its willful misconduct, bad faith or gross negligence. No provision of this Agreement will require the Rights Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder or in the exercise of any of its rights or powers. Notwithstanding anything contained herein to the contrary, the Rights Agent’s aggregate liability under this Agreement, or from all services provided or omitted to be provided
under this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to the Rights Agent as fees and charges, but not including reimbursable expenses. 

(b)    The Holder Representative may direct the Rights Agent to act on behalf of the Holders in enforcing any of its or
their rights hereunder, including the delivery of any Notice of Objection and negotiation or arbitration pursuant to Section 8.10. The Rights Agent will be under no obligation to institute any action, suit or legal
proceeding or to take any other action likely to involve material expense unless the Holder Representative will furnish the Rights Agent with reasonable security and indemnity for any costs and expenses that may be incurred. All rights of action
under this Agreement may be enforced by the Rights Agent, and any action, suit or proceeding instituted by the Rights Agent will be brought in its name as Rights Agent, and any recovery of judgment will be for the ratable benefit of all the Holders,
as their respective rights or interests may appear. 
 3.2    Certain Rights of Rights Agent. The Rights
Agent undertakes to perform such duties and only such duties as are specifically set forth in this Agreement, and no implied covenants or obligations will be read into this Agreement against the Rights Agent. In addition: 

  
 7 

 (a)    the Rights Agent may rely and will be protected in acting or
refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document believed by it to be genuine and to have been signed or presented by the proper
party or parties; 
 (b)    whenever the Rights Agent will deem it desirable that a matter be proved or established
before taking, suffering or omitting any action hereunder, the Rights Agent may, in the absence of willful misconduct, bad faith or gross negligence on its part, rely upon an Officer’s Certificate; 

(c)    the Rights Agent may engage and consult with counsel of its selection and the written advice of such counsel or any
opinion of counsel will be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(d)    in the event of arbitration, the Rights Agent may engage and consult with tax experts, valuation firms and other
experts and third parties that it, in its sole and absolute discretion, deems appropriate or necessary to enable it to discharge its duties hereunder; 

(e)    the permissive rights of the Rights Agent to do things enumerated in this Agreement will not be construed as a
duty; 
 (f)    the Rights Agent will not be required to give any note or surety in respect of the execution of such
powers or otherwise in respect of the premises; 
 (g)    the Company agrees to indemnify the Rights Agent for, and hold
the Rights Agent harmless against, any loss, liability, claim, demands, suits or expense (in each case pertaining to the Rights Agent’s own account only) arising out of or in connection with the Rights Agent’s duties under this Agreement,
including the costs and expenses of defending the Rights Agent against any claims, charges, demands, suits or loss, unless such loss has been determined by a court of competent jurisdiction to be a result of the Rights Agent’s willful
misconduct, bad faith or gross negligence; and 
 (h)    the Company agrees (i) to pay the fees and expenses of the
Rights Agent in connection with this Agreement, as set forth on Schedule 1 hereto, and (ii) to reimburse the Rights Agent for all taxes and governmental charges, reasonable expenses and other charges of any
kind and nature incurred by the Rights Agent in the execution of this Agreement. The Rights Agent will also be entitled to reimbursement from the Company for all reasonable and necessary out-of-pocket expenses (including reasonable fees and expenses of the Rights Agent’s counsel and agent) paid or incurred by it in connection with the administration by the Rights Agent of its duties
hereunder. An invoice for the Rights Agent Fee will be rendered a reasonable time before, and paid on, the effective date of the applicable transaction. An invoice for any
out-of-pocket expenses and per item fees realized will be rendered and payable within thirty (30) calendar days after receipt by the Company. The Company agrees to
pay to Rights Agent any amounts, including fees and expenses, payable in favor of the Rights Agent in connection with any dispute, resolution or arbitration arising under or in connection with the Agreement; and any fees and expenses, payable by the
Company in favor of the Rights Agent or payable in favor of the Company related to such dispute, resolution or arbitration will be offset against the CVR Payment Amount, if any, or any payment to be made thereafter under this Agreement. 

3.3    Resignation and Removal; Appointment of Successor. 

  
 8 

 (a)    The Rights Agent may resign at any time by giving written notice
thereof to the Company specifying a date when such resignation will take effect, which notice will be sent at least thirty (30) days before the date so specified. 

(b)    If the Rights Agent will resign, be removed or become incapable of acting, the Company, by way of a Board
Resolution, will promptly appoint a qualified successor Rights Agent who may (but need not) be a Holder but will not be an officer of the Company. The successor Rights Agent so appointed will, forthwith upon its acceptance of such appointment in
accordance with this Section 3.3(b), become the successor Rights Agent. 
 (c)    The
Company will give notice of each resignation and each removal of a Rights Agent and each appointment of a successor Rights Agent by mailing written notice of such event by first-class mail, postage prepaid, to the Holders as their names and
addresses appear in the CVR Register and by delivering notice to the Holder Representative. Each notice will include the name and address of the successor Rights Agent. If the Company fails to send such notice within five (5) Business Days
after acceptance of appointment by a successor Rights Agent, upon the Company’s request the successor Rights Agent will cause such notice to be mailed at the expense of the Company. 

3.4    Acceptance of Appointment by Successor. Every successor Rights Agent appointed hereunder will
execute, acknowledge and deliver to the Company and to the retiring Rights Agent an instrument accepting such appointment and a counterpart of this Agreement, and thereupon such successor Rights Agent, without any further act, deed or conveyance,
will become vested with all the rights, powers, trusts and duties of the retiring Rights Agent; provided, however, that upon the request of the Company or the successor Rights Agent, such retiring Rights Agent will cooperate
in the transfer of all relevant data, including the CVR Register, to the successor Rights Agent. 
 ARTICLE IV 

COVENANTS 

4.1    List of Holders. The Company will furnish or cause to be furnished to the Holder Representative and
the Rights Agent the names, addresses and shareholdings of registered holders of Common Stock as of 5:01 p.m. Eastern Time on the Record Date. The Company will promptly furnish an electronic copy of the CVR Register to the Holder Representative
upon written request from the Holder Representative. 
 4.2    Payment of CVR Payment Amount. The Company
will duly and promptly transfer the CVR Payment Amounts, if any, to the Rights Agent to be distributed to the Holders in the manner provided for in Section 2.4 and in accordance with the terms of this Agreement.

 ARTICLE V 

AMENDMENTS 

5.1    Amendments Without Consent of Holder Representative. 

(a)    Without the consent of the Holder Representative or the Rights Agent, the Company, when authorized by a Board
Resolution, at any time and from time to time, may enter into one or more amendments hereto, for any of the following purposes: 

(i)    to evidence the succession of another Person to the Company and the assumption by any such successor of the
covenants of the Company herein in a transaction contemplated by Section 6.1 hereof; or 

  
 9 

 (ii)    to evidence the termination of the CVR Registrar and the
succession of another Person as a successor CVR Registrar and the assumption by any successor of the obligations of the CVR Registrar herein. 

(b)    Without the consent of the Holder Representative, the Company, when authorized by a Board Resolution, together with
the Rights Agent, in the Rights Agent’s sole and absolute discretion, may at any time and from time to time, enter into one or more amendments hereto: 

(i)    to evidence the succession of another Person as a successor Rights Agent and the assumption by any successor of
the covenants and obligations of the Rights Agent herein; 
 (ii)    to add to the covenants of the Company such
further covenants, restrictions, conditions or provisions as the Board of Directors and the Rights Agent will consider to be for the protection of the Holders; 

(iii)    to cure any ambiguity, to correct or supplement any provision herein that may be defective or inconsistent with
any other provision herein; provided, however, that in each case, such provisions will not materially adversely affect the interests of the Holders; or 

(iv)    to add, eliminate or change any provision of this Agreement unless such addition, elimination or change is
adverse to the interests of the Holders. 
 (c)    Promptly after the execution by the Company and the Rights Agent of
any amendment pursuant to the provisions of this Section 5.1, the Company will deliver a notice thereof to the Holder Representative, setting forth in general terms the substance of such amendment. 

5.2    Amendments with Consent of Holder Representative. Subject
to Section 5.1 (which amendments pursuant to Section 5.1 may be made without the consent of the Holder Representative), the Company, when authorized by a Board Resolution, and
the Rights Agent and the Holder Representative may enter into one or more amendments hereto for the purpose of adding, eliminating or changing any or all provisions of this Agreement. 

5.3    Execution of Amendments. In executing any amendment permitted by
this Article V, the Rights Agent will be entitled to receive, and will be fully protected in relying upon, an opinion of counsel of the Company, at Company’s sole expense, stating that the execution of such
amendment is authorized or permitted by this Agreement. The Rights Agent may, but is not obligated to, enter into any such amendment that affects the Rights Agent’s own rights, privileges, covenants or duties under this Agreement or otherwise.

 5.4    Effect of Amendments. Upon the execution of any amendment under
this Article V, this Agreement will be modified in accordance therewith, such amendment will form a part of this Agreement for all purposes and every Holder will be bound thereby. 

5.5    Amendment Prior to Effective Time. This Agreement may not be amended prior to the Effective Time
without the prior written consent of Oncotelic. 
 ARTICLE VI 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

6.1    Effect of Merger or Consolidation 

  
 10 

 (a)    Except as contemplated by the Merger, the Company will not
consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, unless: 

(i)    the Person formed by such consolidation or into which the Company is merged or the Person that acquires by
conveyance or transfer, or that leases, the properties and assets of the Company substantially as an entirety (the “Surviving Person”) expressly assumes payment (if and to the extent required hereunder) of amounts on all the CVRs
and the performance of every duty and covenant of this Agreement on the part of the Company to be performed or observed; and 

(ii)    the Company has delivered to the Holder Representative and the Rights Agent an Officer’s Certificate,
stating that such consolidation, merger, conveyance, transfer or lease complies with this Article VI and that all conditions precedent herein provided for relating to such transaction have been complied with. 

(b)    In the event the Company conveys, transfers or leases its properties and assets substantially as an entirety in
accordance with the terms and conditions of this Section 6.1, the Surviving Person will be liable for the payment of the CVR Payment Amount and the performance of every duty and covenant of this Agreement on the part
of the Company to be performed or observed. 
 (c)    Notwithstanding the foregoing, in the event the Company conveys,
transfers or leases its properties and assets substantially as an entirety in accordance with the terms and conditions of this Section 6.1 or a Change of Control shall occur, then the Company will have the right
to purchase all, but not less than all, of the outstanding CVRs for an amount equal to their then fair market value as determined in good faith by an independent third party appraisal firm retained by the Company. Within sixty (60) calendar
days after distribution by the Rights Agent of the purchase price for the CVRs as determined in accordance with the terms of this Section 6.1(c), the Holder Representative may deliver a written notice to the Company specifying that the Holder
Representative objects to the determination of the purchase price for the CVRs as determined in accordance with the terms of this Section 6.1(c). Any dispute arising from such an objection will be resolved in accordance with the procedure set
forth in Section 8.10, which decision will be binding on the parties hereto and every Holder (including the Holders not participating therein). 

6.2    Successor Substituted. Upon any consolidation of or merger by the Company with or into any other
Person, or any conveyance, transfer or lease of the properties and assets substantially as an entirety to any Person in accordance with Section 6.1, the Surviving Person will succeed to, and be substituted for, and may
exercise every right and power of, the Company under this Agreement with the same effect as if the Surviving Person had been named as the Company herein, and thereafter the predecessor Person will be relieved of all obligations and covenants under
this Agreement and the CVRs. 
 ARTICLE VII 

THE HOLDER REPRESENTATIVE 

7.1    Appointment. Effective upon the issuance of the CVRs under this terms of this Agreement, and without
any further act of any of Holders, the Holder Representative is appointed as the representative of the Holders and as the attorney-in-fact and agent for and on behalf of
each Holder for purposes of this Agreement and will take such actions to be taken by the Holder Representative under this Agreement and such other actions on behalf of such Holders as it may deem necessary or appropriate in connection with or to
consummate the transactions contemplated hereby, including (i) executing and delivering this Agreement and any other ancillary documents and negotiating and executing any amendments, modifications, waivers or changes thereto as to which the
Holder Representative, in its sole 

  
 11 

 
discretion, has consented (provided that any waiver or amendment that adversely and disproportionately affects the rights or obligations of one or more Holders as compared to other Holders will
require the prior written consent of a majority in interest of the disproportionately affected Holders), (ii) agreeing to, negotiating, entering into settlements and compromises of, complying with orders of courts with respect to, and otherwise
administering and handling any claims under this Agreement on behalf of such Holders, and (iii) taking all other actions that are either necessary or appropriate in the judgment of the Holder Representative for the accomplishment of the
foregoing or contemplated by the terms of this Agreement. The Holder Representative hereby accepts such appointment and agrees to serve as such without compensation. The appointment of the Holder Representative as each Holder’s attorney-in-fact revokes any power of attorney heretofore granted that authorized any other Person to represent such Holder with regard to this Agreement and any other
agreements or documents executed or delivered in connection with this Agreement. The Holder Representative is the sole and exclusive representative of each of the Holders for any purpose provided for by this Agreement. 

7.2    Actions of Holder Representative. 

(a)    A decision, act, consent or instruction of the Holder Representative hereunder will constitute a decision, act,
consent or instruction of all Holders and will be final, binding and conclusive upon each such Holder, and the Company and the Rights Agent may rely upon any such decision, act, consent or instruction of the Holder Representative as being the
decision, act, consent or instruction of each and every such Holder. The Company and the Rights Agent will be relieved from any liability to any Person for any acts done by them in accordance with such decision, act, consent or instruction of the
Holder Representative. 
 (b)    The Holder Representative will incur no liability with respect to any action taken or
suffered by any Holder in reliance upon any notice, direction, instruction, consent, statement or other document believed by such Holder Representative to be genuine and to have been signed by such Holder (and will have no responsibility to
determine the authenticity thereof), nor for any other action or inaction, except the gross negligence, bad faith or willful misconduct of the Holder Representative. In all questions arising under this Agreement, the Holder Representative may rely
on the advice of outside counsel, and the Holder Representative will not be liable to any Holder for anything done, omitted or suffered in good faith by Holder Representative based on such advice. 

(c)    The Holders will severally (on a pro rata basis, based on the number of CVRs held by each Holder) but not jointly
indemnify the Holder Representative and hold the Holder Representative harmless against any loss, liability or expense incurred without gross negligence, bad faith or willful misconduct on the part of the Holder Representative and arising out of or
in connection with the acceptance or administration of the Holder Representative’s duties hereunder, including the reasonable fees and expenses of any legal counsel or other advisors reasonably retained by the Holder Representative. 

(d)    In connection with providing services under this Agreement, the Holder Representative will be reimbursed by the
Company for all reasonable fees and expenses incurred in providing such services. Any such fees and expenses will be paid by the Company within thirty (30) days of the receipt of an invoice from the Holder Representative and will be offset
against the CVR Payment Amount, if any. 
 7.3    Removal; Appointment of Successor. 

(a)    At any time Holders representing at least a majority of the outstanding CVRs may, by written consent, appoint
another Person as Holder Representative. Notice together with a copy of the written consent appointing such Person and bearing the signatures of Holders of at least a majority of the 

  
 12 

 
outstanding CVRs must be delivered to the Company and the Rights Agent not less than ten (10) days prior to such appointment. Such appointment will be effective upon the later of the date
indicated in the consent or the date ten (10) days after such consent is received by the Company and the Rights Agent. 

(b)    If the Holder Representative becomes unable or unwilling to continue in his or its capacity as the Holder
Representative, or if the Holder Representative resigns as a Holder Representative, the Holder Representative may appoint a new representative as the Holder Representative. If the Holder Representative is unable or unwilling to appoint a successor
Holder Representative, then the Board of Directors of the Company shall appoint a successor Holder Representative. Notice and a copy of the written consent appointing such new representative must be delivered to the Company and the Rights Agent.
Such appointment will be effective upon the later of the date indicated in the consent or the date ten (10) days after such consent is received by the Company and the Rights Agent. 

7.4    Grant of Authority. The grant of authority provided for in this Article VII (i) is coupled
with an interest and will be irrevocable and survive the death, incompetency, bankruptcy or liquidation of any Holder, and (ii) will survive the consummation of the Merger. The provisions of this Article VII will be binding upon the
executors, heirs, legal representatives, successors and assigns of each Holder, and any references in this Agreement to any Holder or the Holders will mean and include the successors to such Holder’s rights hereunder, whether pursuant to
testamentary disposition, the laws of descent and distribution or otherwise. 
 ARTICLE VIII 

OTHER PROVISIONS OF GENERAL APPLICATION 

8.1    Notices to Rights Agent, Company and Holder Representative. Subject
to Section 8.2, all notices, requests, demands, claims and other communications that are required to be or may be given under this Agreement must be in writing and will be deemed to have been effectively given:
(a) upon personal delivery to the recipient; (b) when sent by e-mail transmission, if sent during normal business hours of the recipient; if not, then on the next Business Day; or (c) one
Business Day after deposit with a nationally recognized overnight courier, specifying next-day delivery, with written verification of receipt, in each case to the intended recipient at the following addresses:

  

	 	(a)	 if to the Company or Oncotelic, to 

Oncotelic, Inc. 
 29397 Agoura
Road Suite 107 
 Agoura Hills, CA 91301 

Attn: Vuong Trieu 
 Email: 

with a copy to 
 Sheppard
Mullin Richter & Hampton LLP 
 12275 El Camino Real Suite 200 

San Diego, CA 92130 
 Attn:
James A. Mercer III, Esq. 
 Email: 
  

	 	(b)	 if to the Rights Agent, to 

American Stock Transfer & Trust Company, LLC 

  
 13 

 6201 15th Avenue 

Brooklyn, New York 11219 

Attention: Relationship Management 

with a copy to 
 American
Stock Transfer & Trust Company, LLC 
 48 Wall Street, 22nd Floor 

New York, New York 10005 

Attention: Legal Department; and 
  

	 	(c)	 if to the Holder Representative, to 

Matthew M. Loar 
 c/o
Oncotelic, Inc. 
 29397 Agoura Road Suite 107 

Agoura Hills, CA 91301 
 Email:

 or to such other address as either party has furnished to the other by notice given in accordance with this Section 8.1. 

8.2    Notice to Holders. Where this Agreement provides for notice to Holders, such notice will be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his, her or its address as it appears in the CVR Register, not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder
will affect the sufficiency of such notice with respect to other Holders. 
 8.3    Entire Agreement. This
Agreement represents the entire understanding of the parties hereto with reference to the CVRs and this Agreement supersedes any and all other oral or written agreements made with respect to the CVRs. No party has relied on any other express or
implied representation or warranty, either written or oral in connection with its entry into this Agreement, including any representation or warranty arising under statute or otherwise under law. 

8.4    Legal Holidays. If a CVR Payment Date is not a Business Day, then, notwithstanding any provision of
this Agreement to the contrary, any payment required to be made in respect of the CVRs on such date need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the CVR Payment Date.

 8.5    Force Majeure. Notwithstanding anything to the contrary contained herein, the Rights Agent shall
not be liable for any delays or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, shortage of supply, breakdowns or malfunctions, interruptions or malfunctions of
computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war or civil unrest. 

8.6    Assignment. Neither this Agreement nor any right, interest or obligation hereunder may be assigned by
any of the parties hereto without the prior written consent of the other parties hereto; provided, however, that the Rights Agent may, without further consent of the other parties hereto,

  
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assign any of its rights and obligations hereunder to any affiliated transfer agent registered under Rule 17Ac2-1 promulgated under the Securities
Exchange Act of 1934, as amended. 
 8.7    Third Party Beneficiaries. This Agreement will be binding upon
and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, will give to any Person (other than the parties hereto, the Holders and their permitted successors
and assigns hereunder) any benefit or any legal or equitable right, remedy or claim under this Agreement or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto, the
Holders and their permitted successors and assigns. 
 8.8    Termination. This Agreement will terminate
and be of no further force or effect, and the parties hereto will have no liability hereunder, upon the earliest to occur of (a) the payment of the last possible CVR Payment Amount due hereunder, (b) if a Notice of Objection is not
delivered within the Objection Period, the expiration of the Objection Period or (c) in the event of the delivery of a Notice of Objection, either (i) the final determination in accordance with this Agreement that no Legacy Transaction has
been achieved and no Net Proceeds have been received on or prior to the Outside Date or (ii) the fulfillment of any payment obligation required pursuant to a final determination made in accordance with this Agreement. 

8.9    Survival. Notwithstanding anything in this Agreement to the contrary, all provisions regarding
indemnification, warranty, liability and limits thereon, and confidentiality and protection of proprietary rights and trade secrets shall survive the termination or expiration of this Agreement. 

8.10    Governing Law. This Agreement and the CVRs will be governed by the laws of the State of Delaware
without reference to principles of conflicts of laws that would result in the application of the laws of any other jurisdiction. 

8.11    Remedies. The Holders will not have any rights or remedies with respect to the CVRs except as
expressly set forth herein. 
 8.12    Arbitration. 

(a)    Before any arbitration pursuant to Section 8.10(b), the Company, the Rights Agent and
the Holder Representative will negotiate in good faith for a period of thirty (30) days to resolve any controversy or claim arising out of or relating to this Agreement or the breach thereof. 

(b)    Any claim which the Holders have the right to assert hereunder (including any claims brought by the Holder
Representative on behalf of the Holders) will be settled by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof. The Company, the Rights Agent and/or the Holder Representative may initiate an arbitration for any matter relating to this Agreement. However, in the event of a dispute arising from the delivery of a Notice of Objection,
the sole matter to be settled by arbitration will be whether a Legacy Transaction has occurred or Net Proceeds have been received on or before the Outside Date. The number of arbitrators will be one, and such arbitrator will be selected by the
American Arbitration Association. The place of the arbitration will be San Francisco, California. The arbitrator will be a lawyer or retired judge or accountant with experience in the biopharmaceutical industry and with mergers and acquisitions.
Except as may be required by law, neither a party nor the arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of the other parties (provided that the Holder Representative may
disclose to the Holders any such information without the consent of the Company). Any award payable in favor of the Holders or the Rights Agent as a result of arbitration will be distributed to the Holders on a pro rata

  
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basis, based on the number of CVRs held by each Holder. The Company will pay all fees and expenses of the arbitration, including the costs and expenses billed by the arbitrator in connection with
the performance of its duties described herein; provided, however, that if the arbitrator rules in favor of the Company, the arbitrator’s fees and expenses will be offset against the CVR Payment Amount, if any, or any
payment to be made thereafter hereunder. Each party will be responsible for its own attorney fees, expenses and costs of investigation. 

8.13    Confidentiality. 

(a)    Definition. “Confidential Information” shall mean any and all technical, scientific or
business information relating to a party, including, without limitation, financial, marketing and product development information, stockholder information (including any non-public information of such
stockholder), and proprietary information that is disclosed or otherwise becomes known to the other party or its affiliates, agents or representatives before or during the term of this Agreement. Confidential Information constitutes trade secrets
and is of great value to the owner (or its affiliates). Confidential Information shall not include any information that is: (a) already known to the other party or its affiliates at the time of the disclosure, provided that such prior knowledge
can be substantiated by the written records of such party; (b) publicly known at the time of the disclosure or becomes publicly known through no wrongful act or failure of the other party; (c) subsequently disclosed to the other party or
its affiliates on a non-confidential basis by a third party not having a confidential relationship with the owner and which rightfully acquired such information; or (d) independently developed by one
party without access to the Confidential Information of the other, provided that such independent development can be substantiated by the written records of such party. This Agreement, including all of its terms and conditions, will not be deemed to
be Confidential Information and may be publicly disclosed by the Company and Oncotelic. 
 (b)    Use and Disclosure.
All Confidential Information of a party will be held in confidence by the other party with at least the same degree of care as such party protects its own confidential or proprietary information of like kind and import, but not less than a
reasonable degree of care. Neither party will disclose in any manner Confidential Information of the other party in any form to any person or entity without the other party’s prior consent. However, each party may disclose relevant aspects of
the other party’s Confidential Information to its officers, affiliates, agents, subcontractors and employees to the extent reasonably necessary to perform its duties and obligations under this Agreement. Without limiting the foregoing, each
party will implement such physical and other security measures and controls as are necessary to protect (a) the security and confidentiality of Confidential Information; (b) against any threats or hazards to the security and integrity of
Confidential Information; and (c) against any unauthorized access to or use of Confidential Information. To the extent that a party delegates any duties and responsibilities under this Agreement to an agent or other subcontractor, the party
ensures that such agent and subcontractor are contractually bound to confidentiality terms consistent with the terms of this Section 8.13. 

(c)    Required or Permitted Disclosure. In the event that any requests or demands are made for the disclosure of
Confidential Information, other than requests to Rights Agent for stockholder records pursuant to standard subpoenas from state or federal government authorities (e.g., divorce and criminal actions), the party receiving such request will
promptly notify the other party to secure instructions from an authorized officer of such party as to such request and to enable the other party the opportunity to obtain a protective order or other confidential treatment, unless such notification
is otherwise prohibited by law or court order. Each party expressly reserves the right, however, to disclose Confidential Information to any person whenever it is advised by counsel that it may be held liable for the failure to disclose such
Confidential Information or if required by law or court order. 
 (d)    Unauthorized Disclosure. As may be
required by law and without limiting any party’s rights in respect of a breach of this Section 8.13, each party will promptly: 

  
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 (i)    notify the other party in writing of any unauthorized
possession, use or disclosure of the other party’s Confidential Information by any person or entity that may become known to such party; 

(ii)    furnish to the other party full details of the unauthorized possession, use or disclosure; and 

(iii)    use commercially reasonable efforts to prevent a recurrence of any such unauthorized possession, use or
disclosure of Confidential Information. 
 (e)    Costs. Each party will bear the costs it incurs as a result of
compliance with this Section 8.13. 
 8.14    Counterparts. This Agreement may
be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. Delivery of a signed Agreement by reliable electronic means, including facsimile, email, or any
electronic signature complying with the U.S. federal ESIGN Act of 2000 (including DocuSign) shall be an effective method of delivering the executed Agreement. This Agreement may be stored by electronic means and either an original or an
electronically stored copy of this Agreement can be used for all purposes, including in any proceeding to enforce the rights and/or obligations of the parties to this Agreement. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its
behalf by its duly authorized officers as of the day and year first above written. 
  

			
	MATEON THERAPEUTICS, INC.
		
	By:	 	 /s/ William D. Schwieterman

	William D. Schwieterman
	Chief Executive Officer

  

			
	ONCOTELIC, INC.

 
			
		
	By:	 	 /s/ Vuong Trieu

			
	Vuong Trieu
	Chief Executive Officer
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

 
			
		
	By:	 	 /s/ Michael A. Nespoli

			
	Name:	 	Michael A. Nespoli
	Title:	 	Executive Director
	
	MATTHEW M. LOAR
	
	 /s/ Matthew M. Loar

  
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