Document:

Exhibit 10.1

 

AMENDED AND RESTATED LICENSE
AGREEMENT

 

This
Amended and Restated License Agreement (the “License Agreement”) is made as of
the 14th day of April 2010, by and between Corgenix Medical Corporation, a
Nevada corporation, having its principal office at 11575 Main Street, Suite 400
Broomfield CO 80020, U.S.A. (“Corgenix”) and Eiji Matsuura, Ph.D. (“Dr. Matsuura”),
an individual having his place of residence at 7-20-801 Nishino-cho, Kita-ku,
Okayama 700-0916, Japan.

 

On
or about September 29, 2002, Corgenix and Dr. Matsuura entered into a
license agreement (“Original License Agreement”).  This License Agreement amends and restates,
in its entirety, the Original License Agreement.

 

WITNESSETH:

 

WHEREAS,
Dr. Matsuura is the owner of all right, title and interest in and to
certain Technology (as hereinafter defined) relating to methods for the
determination of oxidized lipoproteins and related analytes, antibodies and
antigens, including certain Patents (as hereinafter defined); and

 

WHEREAS,
Corgenix is engaged in the business of developing, manufacturing, selling and
distributing diagnostic tests, instrumentation and related products, and
desires to obtain a license from Dr. Matsuura in order to make, use, sell
and distribute diagnostic products using the Technology on its own behalf; and

 

WHEREAS,
Dr. Matsuura is willing to grant Corgenix access to all information in the
possession of Dr. Matsuura regarding methods for the determination of
oxidized lipoproteins and access to all related analytes, antibodies and
antigens, existing as of the date of this License Agreement and any and all
improvements or future developments related thereto, including those related to
the Patents or the Japanese Patents (defined below) (hereinafter referred to as
“Technology”) to develop any human diagnostic products to be manufactured and
sold by Corgenix, including those that include the Patents or the Japanese
Patents (hereinafter referred to as “Products”).

 

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained
herein, the parties hereto agree as follows:

 

ARTICLE
1 (DEFINITIONS)

In
this License Agreement, the following words and expressions have the following
meanings:

1.1  “Effective Date” means the date first above
written.

1.2  Intentionally Deleted

1.3  “Net Sales” means the total invoice price
charged by Corgenix and/or Subsidiaries to non-Subsidiary third parties for the
sale of the Products, less returns, freight charges, insurance premium and
customary trade discounts actually taken, consumption tax or other taxes levied
and customs duties.

1.4  “Party” means Corgenix or Dr. Matsuura; “Parties”
means Corgenix and Dr. Matsuura.

1.5  “Patents” means the US and
European Patents described in Exhibit A, and any subsequent patents
issued to either or both of the Parties relating to the Technology.

1.6  “Japanese Patents” means the
following patent applications: Japanese Patent Application No. 07-510213:
Method for determination of oxidized lipoproteins and use thereof”; Japanese
Patent Application No. PCT/JP02/00723: “Ligand for beta-2-glycoprotein I
and use thereof”; Japanese Patent Application No. 2002-261366: “Method for
measuring oxidized LDL-beta-2-glycoprotein I complex in living body” attached
hereto as Exhibit B; and any subsequent patents issued to either or both
of the Parties relating to the Technology.

1.7  Intentionally Deleted

1.8  “Subsidiary” means companies that are
controlled by Corgenix as of the Effective Date.  For the purpose of this definition, “control”
shall mean direct beneficial ownership of greater than fifty percent (50%) of
the voting stock or other equity ownership interest of such company.

1.9  “Territory” means worldwide except Japan.

1.10  Intentionally Deleted

 

ARTICLE
2 (GRANT OF LICENSE)

Dr. Matsuura
hereby grants to Corgenix an exclusive license, within the Territory, to
utilize the Technology to develop, manufacture, use, promote to sell, and sell
any Products during the term of this License Agreement. Corgenix shall not
sublicense such rights to any third parties without prior written consent of Dr. Matsuura
which

 

 

consent
shall not be unreasonably withheld by Dr. Matsuura, provided, however,
that Corgenix may further sublicense such rights to Subsidiaries without prior
written consent of Dr. Matsuura.

 

ARTICLE
3 (PATENTS AND JAPANESE PATENTS)

3.1         Patents.

3.1.1                        Corgenix is
responsible for the maintenance and prosecution of all Patents outside of
Japan.

3.1.2                        Corgenix shall
be responsible for the translation of the Japanese Patents into English and the
filing of US patents which shall be assigned to Corgenix and Dr. Matsuura.

3.1.3                        Should Corgenix
decide not to prosecute or maintain any or all of the Patents, the Patent(s) so
affected shall be reassigned by Corgenix to Dr. Matsuura.

3.2         Japanese Patents. Dr. Matsuura
is responsible for the maintenance and prosecution of all Japanese Patents.
Should Dr. Matsuura decide for any reason not to maintain any or all of
the Japanese Patents, he shall immediately notify Corgenix.

 

ARTICLE
4 (REGULATORY APPROVAL)

Corgenix shall be responsible for, and shall bear
the expenses of, filing and prosecuting any application to obtain the required
governmental approvals or consents necessary to manufacture and market any
Products in the Territory.

 

ARTICLE
5 (TECHNICAL ASSISTANCE)

Both Parties agree to
collaborate on the Technology and to provide ongoing technical support
concerning the Patents in order to obtain the governmental approvals or
consents necessary to develop, manufacture and market the Products, and
effectively promote the Products in the Territory.

 

ARTICLE
6 (ROYALTIES AND PAYMENTS)

6.1   In consideration of the grant of the rights
by Dr. Matsuura to Corgenix under this License Agreement, Corgenix shall
pay to Dr. Matsuura as follows: a royalty of four (4) percent (4 %)
of Net Sales of Products sold by Corgenix and its Subsidiaries for each
calendar half year commencing on the Effective Date and thereafter during the
term of this License Agreement shall be paid to Dr. Matsuura semi-annually
within forty-five (45) days after the ends of every June and December.

 

 

6.2   Payment Method. All payments to Dr. Matsuura
under this License Agreement, except as otherwise agreed, shall be remitted in
United States Dollars by telegraphic transfer to the account of Dr. Matsuura,
at a bank designated by Dr. Matsuura. If a payment is delayed, overdue
interest rate will be the US Dollar London Interbank Offered Rate of
corresponding overdue period plus three percent (3%) per annum.

 

6.3   Intentionally Deleted

 

ARTICLE
7 (RECORDS)

Corgenix
shall keep complete and accurate records and books sufficiently detailed to
show the amount of the Products manufactured and sold, and the running royalty
due and payable to Dr. Matsuura for five (5) years from each calendar
year. Corgenix shall, at the request and at the expense of Dr. Matsuura,
permit Dr. Matsuura or an independent accountant designated by Dr. Matsuura
to have access to such records to examine and to copy, during ordinary business
hours, as may be necessary to verify or determine any royalties, paid or
payable, under this License Agreement.

 

ARTICLE 8 (IMPROVEMENTS)

The Parties acknowledge and agree that certain
inventions and improvements (collectively, “Improvements”) may be made by
either Party through the use of the Patents. Each Party shall inform the other
Party of any Improvements.

 

ARTICLE
9 (CONFIDENTIALITY)

Each Party acknowledges that during the course of
this License Agreement it will become privy to confidential information of the
other Party including technology, business strategy and other technical,
business and financial matters. Each Party further acknowledges that the
disclosure of such information to a third party, or the use of such information
for purposes other than the purposes of this License Agreement, would cause
irreparable injury to the other Party, which injury might not be compensated
for adequately by money damages. Each Party accordingly agrees, during the term
of this License Agreement and five (5) years thereafter, to hold all
information provided by the other Party in strict confidence and not to
disclose any such information to a third party except as required by law or as
otherwise expressly permitted by the other Party, or use such information for
any purpose other than the purposes hereof.

 

 

As used herein, the term confidential information
shall not include information that:

(i)                                      is or becomes
generally available to the public other than as a result of disclosure by
receiving Party,

(ii)                                   was available
to receiving Party on a non-confidential basis prior to its receipt from
disclosing Party,

(iii)                                becomes
available to receiving Party lawfully from a third party that is not prohibited
from disclosing such information, or

(iv)                               is developed
independently by receiving Party as evidenced by written records other than
through knowledge of the disclosed information from disclosing Party.

 

ARTICLE 10 (PUBLIC DISCLOSURE)

When
Corgenix wants to make any public disclosure in connection with this License
Agreement, Corgenix shall propose such disclosure to Dr. Matsuura in
writing. Dr. Matsuura shall have a right to review and edit such a
proposed draft and a right to veto such a disclosure, but Dr. Matsuura
cannot unduly withhold his consent. Dr. Matsuura shall respond to Corgenix
within thirty (30) business days from the receipt of such a proposal.  Notwithstanding the foregoing, to the extent
Corgenix is required to make certain public disclosures under applicable
securities laws, Corgenix will not be required to seek any prior approval from Dr. Matsuura
or any other third party, prior to making such required public disclosure.

 

ARTICLE
11 (WARRANTY AND INFRINGEMENT)

11.1  Dr. Matsuura warrants that he
has full authority to enter into this License Agreement, and, to Dr. Matsuura’s
knowledge, the grant of the license contained herein does not infringe on any
patents, intellectual property, or other proprietary rights of any third party;
provided, however, Dr. Matsuura makes no warranties,
expressed or implied, as to the merchantability of the Technology.

 

11.2  In the event that any third party
claim is made or suit is brought against Corgenix alleging that the rights
granted in this License Agreement infringe on a third party’s patent,
intellectual property or proprietary rights, Dr. Matsuura agrees to
indemnify Corgenix for any damages, liabilities and expenses related to such
action.

 

 

11.3  In the event that any third party infringes any of the
Patents in the Territory, then the Parties hereto shall cooperate to take
appropriate action against such third party.

 

ARTICLE
12 (INDEMNIFICATION)

Corgenix shall indemnify Dr. Matsuura from and against any
damages, liabilities, expenses to be suffered by Dr. Matsuura with regard
to product liability claim by a third party.

 

ARTICLE
13 (TERM)

This
License Agreement, unless earlier terminated pursuant to Article 14
thereof, shall continue in effect until September 29, 2022, and may be
renewed or extended for successive terms pursuant to terms and conditions
mutually agreed upon in writing.

 

ARTICLE
14 (TERMINATION)

Either
Party may, without prejudice to any other rights or remedies, terminate the
License Agreement by giving sixty (60) days written notice to the other with
immediate effect, if any of the following events should occur

(i)                                     if either Party fails to
make any payment to the other when due under this License Agreement and such
failure continues for more than thirty (30) days after receipt of a written
notice specifying the default;

(ii)                                  if either Party fails to
perform any other provision of this License Agreement which failure remains
uncorrected for more than thirty (30) days after receipt of a written notice
specifying the default;

(iii)                               if either Party files a
petition in bankruptcy, or petition in bankruptcy is filed against it, or
either Party becomes insolvent, bankrupt, or makes a general assignment for the
benefit of creditors, or goes into liquidation or receivership;

(iv)                              if either Party ceases or
threatens to cease to carry on business or disposes of the whole or any
substantial part of its undertaking or its assets.

 

ARTICLE
15 (NOTICES)

All
notices or reports required or permitted under this License Agreement shall be
in writing, and shall be given by prepaid registered airmail letter or
international courier to the addresses shown below or to such other addresses
as the parties may designate in writing.

 

 

To Dr. Matsuura:

Eiji Matsuura, Ph.D.

7-20-801 Nishino-cho, Kita-ku

Okayama
700-0916, Japan.

 

To Corgenix:

Attention:
President

11575
Main Street, Suite 400

Broomfield,
CO 80020, U.S.A.

 

ARTICLE
16 (ENTIRE AGREEMENT)

This
License Agreement constitutes the entire agreement between Parties hereto, and
supersedes any prior written or oral agreements between Parties concerning the
subject matter hereof.

 

ARTICLE 17 (TITLES)

The
titles of the Articles of this License Agreement are for reference only, and
this License Agreement shall not be construed by reference to such titles.

 

ARTICLE 18 (ARBITRATION)

Any controversy or claim arising under or in relation to this License
Agreement, except as otherwise expressly provided below, shall be settled
exclusively by arbitration in accordance with the International Arbitration Rules of
the American Arbitration Association (AAA). 
Arbitration shall take place in Denver, Colorado, U.S.A. before one
arbitrator selected by the parties jointly or failing their agreement, selected
pursuant to the rules of the AAA. The arbitration shall be conducted in
English and shall use the U.S. Federal rules of evidence and the U.S.
Federal rules of civil procedure. The substantially prevailing party shall
be entitled to recover its costs and attorneys’ fees. The decision of the
arbitrators shall be final and binding on the parties, and judgment upon the
award rendered by the arbitrators may be entered by any court having
jurisdiction thereof. Dr. Matsuura specifically consents to the
jurisdiction of the courts of the State of Colorado, U.S.A., and any other
place where it is located or can be found for purposes of enforcing an award.

 

ARTICLE
19 (ASSIGNMENT)

This
License Agreement or any part of this License Agreement may not be assigned or

 

 

transferred
by either Party without the prior written consent of the other Party. Any
assignment or transfer without such consent shall be null and void.

 

ARTICLE
20 (NO WAIVER)

Except
where specific time limits are herein provided, no delay on the part of either
Party hereto in exercising any power or right hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any power or right
hereunder preclude other or further exercise thereof or the exercise of any
other power or right. No waiver, modification or amendment of this License
Agreement or any provision hereof shall be enforceable against any party hereto
unless in writing, signed by the Party against whom such waiver, modification
or amendment is claimed, and with regard to any waiver, shall be limited solely
to the one event.

 

ARTICLE
21 (GOVERNING LAW)

This
License Agreement shall be governed by and construed in accordance with the
laws of Colorado.

 

[Signature Page to
Follow]

 

 

IN CONSIDERATION OF the foregoing terms and
conditions, Corgenix and Dr. Matsuura hereto have affixed their authorized
signatures.

 

 

Corgenix
Medical Corporation

 

 

	
  s/
  Luis R. Lopez, MD

  	
   

  	
  s/
  Eiji Matsuura, Ph.D.

  
	
  Luis R. Lopez, MD

  	
   

  	
  Eiji Matsuura, Ph.D.

  
	
  Chief
  Medical Officer

  	
   

  	
   

  

 

 

Exhibit A

 

Patents

 

US Patent # 5,900,359, effective May 4, 1999; Title: Method for Determination of Oxidized Lipoproteins and
Use Thereof. This patent covers the OxLDL/β2GPI
antigen and its use. The patent has been granted, and Corgenix must maintain
the patent. The patent was not applied for in the EU.

 

US Patent # 7,160,733 B2 effective January 9, 2007;
Title: Ligand Specific to β2-Glycoprotein
I and Use Thereof. Underlying Japanese patents
for PCT # 07-510213; 2002-261366 (per License agreement).This patent
application covers the synthesis of the OxLig-1 molecule, the use of the
OxLig-1 Ligand for β2GPI, and the method. This is considered the “key
patent” to the technology. This patent will be not be submitted to the EU.

 

US Patent # 7,422,864 B2 effective September 9, 2008;
Title: Method for Measuring Oxidized LDL-CRP
Complex and Measurement Kit Thereof. Underlying
Japanese patents for PCT # 2003-043571, 2003-333927.This patent describes the
binding of oxidized low-density lipoprotein (oxLDL) with C-reactive protein
(CRP) resulting in oxLDL/CRP (CRP-AtherOx) complex formation, and the
immunoassay method for measuring these complexes in blood.

 

US Patent # 7,455,976 B2 effective November 25, 2008;
Title: Method of Measuring Oxidized
LDL/β2-glycoprotein I Complex Occurring in Living Body. Underlying Japanese patents for PCT # 07-510213, 2002-261366.  This application describes
the binding of oxLDL/β2GPI, use of the antibody, covalent binding, MgCl2,
and the Immune complex.

 

EP# 1
548 436 B1 granted November 19, 2008; EU registration with UK, France and
Germany. Title: Method of assaying oxidized LDL-Beta
2-Glycoprotein I complex in vivo.

 

EP application # 04713170 (PCT/JP2004/001961) filed October 5,
2009; EU registration with UK, France and Germany. Title: Method for measuring oxidized
LDL-CRP complex and measuring kit thereof. Japanese Filing Date: February 21, 2002. Underlying Japanese patents
2003-043571 & 2003-333927.Exhibit 10.1

 

CONSENT AND WAIVER

 

THIS CONSENT AND WAIVER (this “Consent”) is made and entered into
as of the 16th day of April, 2010, by and between General Moly, Inc., a
Delaware corporation (the “Company”), and ArcelorMittal S.A. (“ArcelorMittal”).

 

RECITALS

 

A.            The Company and ArcelorMittal are party to a
Securities Purchase Agreement, dated November 19, 2007 (the “Securities
Purchase Agreement”). 
Capitalized terms used, but not defined herein, shall have the meanings
assigned to them in the Securities Purchase Agreement.

 

B.            The Securities Purchase Agreement provides ArcelorMittal
with certain purchase rights with respect to future sales by the Company of its
capital stock.

 

C.            The Company proposes to sell and issue up to an
aggregate number of shares of the Company’s common stock, par value $0.001 per
share (the “Common Stock”) that when issued will constitute
25 percent of the Common Stock, on a fully diluted basis, with certain
related rights to maintain that level of ownership and other issuances as
described therein, pursuant to the terms and conditions of a Securities
Purchase Agreement entered into on March 5, 2010 by and among the Company
and Hanlong (USA) Mining Investment, Inc., a Delaware corporation (“Hanlong”)
and the related Transaction Documents as defined therein (collectively, the “Hanlong
Purchase Agreement”).

 

D.            The Securities Purchase Agreement provides that the
Company must obtain Arcelor’s consent prior to issuing any of its capital stock
for a price less than the market value of such capital stock.

 

E.             The Hanlong Purchase Agreement provides that the
Company must deliver an executed copy of this Consent to Hanlong as a condition
to Hanlong’s obligation to effect the transactions related to the Tranche 1
Closing (as defined in the Hanlong Purchase Agreement).

 

F.             The Bridge Loan Agreement (the “Bridge Loan
Agreement”) entered into on March 5, 2010, by and among the Company
and Hanlong in connection with the Hanlong Purchase Agreement, provides that
the Company must deliver an executed copy of this Consent to Hanlong within 45
days of March 5, 2010 as a condition to any extension of credit
thereunder.

 

G.            ArcelorMittal (i) is willing to waive any rights
to purchase additional capital stock of the Company to the extent such rights
arise out of the issuance of the Common Stock pursuant to the Hanlong Purchase
Agreement; and (ii) is willing to 

 

 

consent to the issuance
of the Common Stock on the terms specified in the Hanlong Purchase Agreement.

 

AGREEMENT

 

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

 

1.             Waiver.  Pursuant to Section 9.3 of the
Securities Purchase Agreement, ArcelorMittal hereby waives all rights to
purchase any shares of the Company’s capital stock, under Section 6.2(a) of
the Securities Purchase Agreement and Section 6.3(a) of the
Securities Purchase Agreement, to the extent such rights are triggered by the
issuance of the Common Stock pursuant to the Hanlong Purchase Agreement.  In connection with the issuance of the Common
Stock pursuant to the Hanlong Purchase Agreement, ArcelorMittal further waives (i) any
right to receive a Notice of Issuance, as set forth in Section 6.2(c) of
the Securities Purchase Agreement, and (ii) any timing requirements set
forth in Section 6.2(d) of the Securities Purchase
Agreement.  This waiver and the exercise
by ArcelorMittal of, or any failure of ArcelorMittal to exercise, its one-time
right with respect to the Common Stock Transaction (defined below), shall not
prejudice or limit the future rights of ArcelorMittal under the Securities
Purchase Agreement in connection with any future issuance of the Company’s
capital stock other than pursuant to the Hanlong Purchase Agreement.

 

2.             Purchase of
Additional Common Stock.

 

(a)           The first time
after the date hereof that the Company proposes to issue, other than pursuant
to the Hanlong Purchase Agreement, more than 10,000,000 shares of the Common
Stock (the “Common Stock Transaction”), ArcelorMittal shall have a
one-time right to purchase, in accordance with the provisions set forth below,
such number of shares of Common Stock as necessary to ensure that ArcelorMittal
holds a ten percent (10%) ownership in the outstanding shares of capital stock
of the Company (on a fully diluted basis) immediately after the completion of
the Common Stock Transaction.

 

(b)           Within 30 days
of the proposed closing of the Common Stock Transaction, the Company shall
provide written notice to ArcelorMittal describing all material terms of the
Common Stock Transaction, including the proposed range of issue prices and all
other material terms upon which the Company proposes to issue such Common
Stock.  At least three business days
prior to the closing of the Common Stock Transaction, the Company shall provide
written notice to ArcelorMittal setting forth the actual issue price of the
Common Stock Transaction and ArcelorMittal shall have 10 days from the receipt
of such notice to agree to purchase all or a portion of the Common Stock it is
permitted to purchase pursuant to subsection (a) above, for the same issue
price payable in cash, by giving written notice to the Company and stating the
quantity of shares of Common Stock that ArcelorMittal is intending to purchase.

 

2

 

(c)           The completion
of the purchase and sale of such Common Stock shall occur on a date specified
by the Company, with at least three days prior notice to Arcelor, that is
within fifteen days after the closing of the Common Stock Transaction.

 

(d)           The rights of ArcelorMittal
set forth in this Section 2 shall terminate and be of no future force or
effect if ArcelorMittal (i) exercises such rights in connection with the
Common Stock Transaction, or (ii) fails to exercise such rights in
connection with the Common Stock Transaction.

 

3.             Consent.  Pursuant to Sections
6.3(b) and 9.3 of the Securities Purchase Agreement, ArcelorMittal
hereby consents to the transactions contemplated by the Hanlong Purchase
Agreement, including without limitation, the issuance of the Common Stock
pursuant to the Hanlong Purchase Agreement at a price per share that may be
lower than the market value of such shares.

 

4.             Extension
Molybdenum Supply Agreement.  In consideration of the waivers and consents
set forth herein, ArcelorMittal and the Company shall enter into an optional
Extension Molybdenum Supply Agreement in substantially the form attached hereto
as Exhibit A.

 

5.             Counterparts.  This Consent may be executed in two or more
counterparts, which together shall constitute one instrument.  Facsimile and electronic copies hereof may be
executed as counterpart originals.

 

(Signature Pages Follow)

 

3

 

IN
WITNESS WHEREOF,
the parties have executed this Consent to be effective as of the date first
above written.

 

 

	
  THE
  COMPANY:

  	
   

  
	
   

  	
   

  
	
  GENERAL
  MOLY, INC.

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  Bruce D. Hansen

  	
   

  
	
  Name:

  	
  Bruce
  D. Hansen

  	
   

  
	
  Title:

  	
  CEO

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ARCELOR:

  	
   

  
	
   

  	
   

  
	
  ARCELORMITTAL
  S.A.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  Peter Kukielski

  	
   

  
	
  Name:
  

  	
  Peter
  Kukielski

  	
   

  
	
  Title:

  	
  Member
  of the Group Management Board

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  Dayinder Chugh

  	
   

  
	
  Name:

  	
  Dayinder
  Chugh

  	
   

  
	
  Title:

  	
  Member
  Group Mgt Board

  	
   

  

 

Signature Page to Consent

 

 

EXHIBIT A

Molybdenum Supply Agreement

 

[See Attached]

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