Document:

Valneva SE 20-F

Exhibit
10.7

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

[***]
= CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL
AND (II) CUSTOMARILY AND ACTUALLY TREATED BY THE REGISTRANT AS PRIVATE OR CONFIDENTIAL.

 

PRODUCT
SCHEDULE SARS-Cov-2 (DRUG BULK PRODUCT)

 

This
Product Schedule (this “Product Schedule”) is entered into as of November 26, 2021 (“Effective Date”)
by and between:

 

		(1)	VALNEVA
                                         AUSTRIA GMBH whose registered office is at Campus Vienna Biocenter 3, 1030 Vienna,
                                         Austria (“Valneva”)

 

		(2)	IDT
                                         Biologika GmbH,
                                         whose principal place of business is at Am Pharmapark, 06861 Dessau-Rosslau, Germany
                                         (“IDT”).

 

Each
of Valneva and IDT shall be referred to as a “Party” herein, and together as the “Parties”.

 

		1.	Agreement

 

This
Product Schedule is entered into by IDT and Valneva as envisaged by Clause 1.1 of the Master Supply and Commercial Manufacturing
Services Agreement between the Parties dated November 26, 2021 (“Master Agreement”). The terms and conditions
of the Master Agreement shall be incorporated into this Product Schedule.

 

This
Product Schedule concerns (i) the Manufacturing, Release and Shipment of [***] Batches of Product (as defined below) of Valneva’s
proprietary vaccine candidate VLA2001 for SARS-CoV-2 in calendar year 2022 for which IDT reserved capacity in accordance with
the VLA2001 Manufacturing Services Agreement between the Parties with the effective date [***] (“MSA”) and
this Product Schedule and which quantity shall be ordered by Valneva in accordance with this Product Schedule, and (ii) the call
option for Valneva to request the Manufacturing, Release and Shipment of further Batches in calendar year 2023.

 

In
case of any conflict between this Product Schedule and the Master Agreement, the provisions of this Product Schedule shall prevail,
provided that any QAA (as defined below) shall prevail for all matters concerning quality related matters pertaining to the Product.

 

		2.	Definitions

 

		2.1	“Batch”
                                         shall mean the output of a series of manufacturing steps in accordance with the Specification(s)
                                         [***] of Product.

 

		2.2	“Conflict
                                         of interest” shall mean a situation where the Manufacture and performance of
                                         related Services by IDT is compromised for reasons involving family, emotional life,
                                         political or national affinity, related to the subject matter of the Master Agreement
                                         and/or this Product Schedule.

 

		2.3	“Expected
                                         Yield” shall be defined in Clause 5.4.

 

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		2.4	“Firm
                                         Supply Commitment” shall be defined in Clause 6.3.

 

		2.5	“Product”
                                         means the fully formulated bulk drug product material Manufactured in accordance with
                                         and conforming to the Specifications set forth in Appendix A attached hereto.

 

		2.6	“Shipment”
                                         shall be defined in Clause 8.1.

 

		2.7	“Late
                                         Delivery Fee” shall be defined in Clause 8.7.

 

		2.8	“Price”
                                         means the price for the Products as set out in Clause 10.1 to this Product Schedule.

 

		2.9	“QAA”
                                         means the Quality Assurance Agreement entered into between the Parties and signed on
                                         [***], defining the Parties’ responsibilities of and to the interaction between
                                         the Parties with respect to quality assurance practice requirements and the good manufacturing
                                         practice requirements relating to the Manufacturing of the Product in accordance with
                                         GMP (including EU and US GMP guidelines). 

 

Any
capitalized terms used but not defined in this Project Schedule shall have the meanings ascribed to them in the Master Agreement.

 

		3.	Reservation
                                         Fee, Capacity Reservation and Reservation Period

 

		3.1	In
                                         the MSA the Parties agreed that IDT would commit to reserve the required capacity at
                                         IDT’s production facilities in Dessau-Rosslau sufficient to secure the Manufacture
                                         of certain Batches of Bulk Drug Product (as defined in the MSA) for commercial supply.
                                         In accordance therewith, the Parties hereby agree that IDT will reserve capacity necessary
                                         for the Manufacture of a total of [***] Batches of Product during calendar year 2022
                                         (“Capacity Reservation”). 

 

		3.2	The
                                         Parties acknowledge that the Parties agreed in the MSA that Valneva shall make a total
                                         payment of [***] to IDT upon [***] (the “Capacity Reservation Fee”)
                                         and that a certain portion of the Capacity Reservation Fee accounted for IDT’s
                                         verified external recruitment costs. The Parties further acknowledge that the Capacity
                                         Reservation Fee less the recruitment costs shall be credited proportionally, as set forth
                                         in Clause 10.2 below, against Batches of Product purchased.

 

		3.3	The
                                         Capacity Reservation Fee paid by Valneva and credited in accordance with Clause 10.2
                                         below, shall be non-refundable, except in case IDT fails to provide all or part of the
                                         capacity which is to be reserved pursuant to this Product Schedule, in which event IDT
                                         shall refund to Valneva [***]. Such refund shall be in addition to any other remedy available
                                         to Valneva under this Product Schedule and/or under the Master Agreement due to IDT’s
                                         failure to Manufacture, Release and Ship Product under the 2022 Firm Orders.

 

		4.	Term
                                         AND TERMINATION of Product Schedule

 

		4.1	This
                                         Product Schedule shall enter into effect on November 26, 2021 (“Effective
                                         Date”) and shall remain in effect until 31 December 2023, or as otherwise agreed
                                         upon between the Parties, unless terminated earlier by either Party as permitted under
                                         the Master Agreement (“Term”).

 

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		4.2	Should
                                         IDT fail to deliver [***] successful PPQ Batches Manufactured under the Manufacturing
                                         Services Agreement between the Parties effective as of [***] (“MSA”)
                                         on or before [***], then Valneva shall have the right to terminate this Product Schedule,
                                         subject to Clause 11.3, without incurring any liabilities. The shipment of the last of
                                         the [***] PPQ Batches under quarantine on or before [***] shall be decisive for the determination
                                         of the timely delivery.

 

		4.3	In
                                         addition to the termination provisions set forth in Clause 19 of the Master Agreement
                                         and above, Valneva shall have the right to terminate any outstanding Batches ordered
                                         in accordance with Appendix B but not Shipped to Valneva by [***]. For clarity,
                                         Valneva shall have no obligation to pay any cancellation fee according to Clause 5.2.2
                                         of the Master Agreement.

 

		5.	Manufacturing
                                         Terms AND YIELD

 

		5.1	Valneva
                                         Background IP: IDT acknowledges and agree that the manufacturing process pertaining
                                         to the Product is Valneva Background IP. The Parties do not anticipate that IDT will
                                         use any of its Background IP in the Manufacturing of Product, however in case there is
                                         such a need, Clause 1.3.3 of the Master Agreement shall apply.

 

		5.2	Manufacturing
                                         Plan. The Manufacturing activities to be performed for the supply of the Firm Purchase
                                         Orders until certain weeks for calendar year 2022 are set forth in the manufacturing
                                         plan (“Manufacturing Plan”) attached hereto as Appendix B.
                                         The Manufacturing activities to be performed until certain months for the supply of Product
                                         related to the Batches Called, upon Valneva’s exercise of the option as defined
                                         in Clause 6.2, are set forth in the manufacturing plan for calendar year 2023 attached
                                         hereto as Appendix G  (“2023 Manufacturing Plan”).

 

		5.3	Specifications
                                         including Master Batch Record. IDT shall Manufacture the Product in accordance with
                                         the requirements set forth in the Master Agreement and in accordance with the master
                                         batch records. The Product shall comply with the Specifications described in Appendix
                                         A-1 and the expectations set forth in Appendix A-2 (“Valneva Expectations”).
                                         The Valneva Expectations shall only be relevant if and to the extent they are part of
                                         the marketing authorization of the Product. The compliance of Product Shipped by IDT
                                         with the Valneva Expectations shall be tested by Valneva. In case of Regulatory Authorities
                                         requests revisions or additions to the Specifications set forth in Appendix A-1 and/or
                                         the Valneva Expectations such revisions shall be agreed upon and implemented in accordance
                                         with Clause 25.6 of the Master Agreement. IDT warrants that the Product (1) shall comply
                                         with the Specifications for the Product and (2) shall be Manufactured in accordance with
                                         GMP in effect at the time of Manufacture.

 

		5.4	Yield.
                                         After finalization of the Manufacture of the first [***] Batches, the Parties will review
                                         actual yields of each Batch (“Actual Yield”) and calculate the average
                                         yield according to the Yield Calculation (Appendix E), which will become the “Expected
                                         Average Yield“. Thereafter, on a regular basis, after the Manufacture and Shipment
                                         of each following [***] Batches, within [***] of such Shipment, the Actual Yield of each
                                         Batch of Product of that [***] Batches and the Expected Average Yield shall be reconciled
                                         and reported to the JSC. If upon reconciliation the Actual Yields in average for the
                                         applicable [***] Batches are above [***] of the Expected Average Yield, Valneva shall
                                         pay the Batch Price of Product set forth in Clause 10.1 below. If IDT fails to meet the
                                         Expected Average Yield by [***] or more in that period, then IDT will credit Valneva
                                         with [***]. 

 

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The
Parties shall determine and discuss in good faith the minimum formulation volume and the minimum titer per Batch (“Minimum
Yield”) after the successful production of the [***] consecutive PPQ batches in accordance with the MSA and in addition
the Specifications defined in Appendix A-1 and Appendix A-2. Batches with lower yields than the Minimum Yield shall
be considered a Product in Non-Conformance and Clause 10 of the Master Agreement shall apply to such Product in Non-Conformance.

 

		6.	Firm
                                         Purchase Orders FOR 2022, CALL Option FOR DOSES IN 2023 AND SUPPLY COMMITMENT

 

		6.1	Firm
                                         Purchase Orders for Manufacture and Shipment in 2022: Valneva herewith orders [***]
                                         Batches of Product to be Manufactured by IDT in calendar year 2022 as further set forth
                                         in Appendix B (“Firm Purchase Orders”).

 

		6.2	Call
                                         Option for Calendar Year 2023: Valneva has the right to request the Manufacture of
                                         between [***] and [***] Batches to be Manufactured and Shipped by IDT to Valneva in calendar
                                         years 2022 and 2023 in accordance with the 2023 Manufacturing Plan (Appendix G)
                                         (“Call Option”) and undertakes to notify IDT as follows:

 

	Number
    of Batches Called for Manufacturing	Call
    Option Date	Capacity
    Slot Fee
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]
	[***]	[***]	[***]

On
[***] the Call Option expires and Valneva has to pay a capacity slot fee of [***] unless Valneva has exercised the option in accordance
with the table above. For clarity, Valneva has the right, at its own discretion, not to exercise the Call Option on or before
[***] without any liabilities. Valneva shall inform IDT in writing not later than by [***] in case Valneva does not wish to exercise
the Call Option whereby the Call Option will expire upon notice.

 

[***]

 

IDT
shall Manufacture the amount of Batches called for (“Batches Called”) in accordance with the indicated call
option dates (“Call Option Dates”) set forth above in accordance with the 2023 Manufacturing Plan (Appendix
F). For clarity, if and to the extent IDT has to Manufacture replacement Product related to the Firm Purchase Orders after
the initially planned Manufacturing slots according to Appendix B, the 2023 Manufacturing Plan shall start at an accordingly
later time and the Manufacturing Dates shall be shifted accordingly. IDT will reserve Manufacturing capacity for the applicable
Batches Called and will Manufacture and Ship such Batches covered by Valneva’s Purchase Orders in accordance with the 2023
Manufacturing Plan.

 

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		6.3	Firm
                                         Supply Commitment: IDT hereby commits to Manufacture and Ship to Valneva [***] Batches
                                         in accordance with the Manufacturing Plan set forth in Appendix B and for calendar
                                         year 2023 IDT commits to Manufacture and Ship the amount of Batches Called by Valneva
                                         in accordance with Clause 6.2 above, provided that the PPQ runs, which are essential
                                         part of the transfer, have been manufactured successfully by IDT (“Firm Supply
                                         Commitment”). If one or several PPQ runs are not successful, the Parties shall
                                         discuss in good faith an amendment to the Appendices B and G, taking the
                                         new manufacturing dates due to the delayed delivery of the PPQ batches into consideration,
                                         subject always that if PPQ runs are not successful on or after [***], Clause 4.1 above
                                         shall apply. 

 

		6.4	In
                                         accordance with Clause 5.2 of the Master Agreement, Valneva shall ‘take or pay’
                                         for its Firm Purchase Orders for 2022 and for the amount of Batches Called in 2023 in
                                         accordance with Clause 6.2 above. In addition to Clause 5.2 of the Master Agreement the
                                         following shall apply: If IDT fails to provide all or part of the capacity which is to
                                         be reserved pursuant to this Product Schedule and IDT’s Firm Supply Commitment,
                                         IDT shall refund to Valneva [***] and Valneva’s obligations to ‘take and
                                         pay’ for its Firm Purchase Order shall cease.

 

		7.	Forecast
                                         and Order Procedures

 

		7.1	Forecasts:
                                         The Parties agree that there will be no forecasting process for the calendar years
                                         2022 and 2023.

 

		7.2	Purchase
                                         Orders: On or before the [***] following each calendar quarter Valneva shall provide
                                         to IDT Purchase Orders covering Valneva’s purchases of the Product during the following
                                         calendar quarter pursuant to its Firm Purchase Orders set forth in Appendix B
                                         or any Batches Called as set forth in Appendix G, as the case may be.

 

Without
modifying or limiting IDT’s obligations hereunder to Manufacture and Ship Product or Valneva’s obligations to purchase
Product, IDT, without undue delay, will send to Valneva a written confirmation of each Purchase Order that complies with the terms
of this Product Schedule or inform Valneva of a noncompliant Purchase Order and, thereafter, if the Purchase Order is noncompliant,
Valneva will promptly issue a compliant Purchase Order. Unless any Purchase Order is rejected by IDT within [***] after IDT’s
receipt, said Purchase Order shall be deemed to have been accepted by IDT. Notwithstanding anything to the contrary, IDT is not
permitted to reject Purchase Orders to the extent they are consistent with the Firm Purchase Orders or any Batches Called.

 

		8.	REPORTING,
                                         SHIPMENT AND LATE DELIVERY FEE

 

		8.1	Reporting:
                                         IDT shall provide Valneva with the following reports:

 

On
the date of finalization of the Manufacture of a Batch, and in any event not later than the date of Shipment of Product, IDT shall
provide Valneva with a report including Valneva Materials used during the Manufacture together with the Actual Yield in litres
of such a Batch (“Consumption Report”),and

 

Not
later than by [***] in any calendar month, IDT shall provide Valneva with a stock report listing all Valneva Material that remains
unused by IDT at the last day of the of the foregoing calendar month. Such stock report shall be sent to the email address: [***].

 

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		8.2	Shipment
                                         under Quarantine: The Product shall be Shipped to Valneva under quarantine [***]
                                         following the Manufacturing together with the Written Statement (defined below) and otherwise
                                         in accordance with the QAA (“Shipment under Quarantine”). For the
                                         sake of clarity, at the time of such Shipment under Quarantine no testing results will
                                         be available to Valneva. For further clarification, IDT shall invoice the Price upon
                                         Shipment under Quarantine. IDT shall inform Valneva including sending an email to the
                                         following email-address: [***] upon Shipment of the Product. 

 

Further
Processing post Shipment: Upon Shipment, IDT shall provide Valneva with a written statement that, based on the documentation
available at the date of Shipment, the Product has been Manufactured in accordance with GMP and that no critical deviations occurred
during Manufacture (“Written Statement”). After Shipment Valneva shall be solely responsible for the further
processing of Product Shipped under Quarantine and assume losses which occur thereafter due to such further processing of Product
except in case Product is determined to be in Non-Conformance after Shipment (e.g. test results received after Shipment) and such
Non-Conformance is caused by IDT’s wilful intent.

 

		8.3	Terms
                                         of Shipment: Furthermore, the following terms apply to Shipment:

 

	Incoterm	[***]
	Packaging
    Requirements	As
    specified in the Specifications
	Labelling
    Requirements	As
    specified in the Specifications

 

		8.4	Commercial
                                         Documentation: IDT shall Ship the Products to Valneva ready for sale/export with
                                         the necessary documentation, including export documentation in accordance with the applicable
                                         Incoterms it being understood that no IDT QP Release Statement is available on the date
                                         of the Shipment.

 

		8.5	Quality
                                         Assurance Documentation: IDT shall provide the IDT QP Release Statement and any other
                                         documentation as set out in the QAA without undue delay after the Shipment.

 

		8.6	Risk
                                         and Title: Risk in the Products shall pass to Valneva in accordance with Clause 8.3.
                                         Title and ownership shall transfer at the same time as risk.

 

		8.7	Delays:
                                         In case IDT fails to Ship the Product [***] following the Manufacturing in accordance
                                         with Exhibit B or Appendix G (“Shipment Date”) for reasons
                                         due to IDT’s fault, and such delay remains for a period longer than [***], IDT
                                         shall pay Valneva, a late delivery fee (“Late Delivery Fee”) of [***],
                                         up to a maximum of [***].

 

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		8.7.1	If
                                         the delay remains for a period longer than [***], Valneva shall have the right to cancel
                                         the Purchase Order pertaining to the Batche(s) delayed. In the event of the cancellation
                                         of the Firm Order, 1) IDT shall pay the Late Delivery Fee to Valneva in accordance with
                                         Clause 8.7 above, and 2) Valneva shall have no obligation to pay any cancellation fee
                                         according to Clause 5.2.2 of the Master Agreement.

 

		8.7.2	In
                                         case of delays and the successive cancellation of a Purchase Order pertaining to a Shipment
                                         of Non-Conforming Product, Clause 10 of the Master Agreement apply.

 

		9.	Supply
                                         and Stock Management

 

		9.1	The
                                         Parties agree that IDT shall Ship the Products within [***] after the Manufacturing and
                                         hence no storage capacity is needed. If necessary, the Parties shall discuss the storage
                                         of Product in good faith which storage shall be subject to IDT’s standard storage
                                         fees according to Appendix D. 

 

		10.	Price
                                         and Payment

 

		10.1	The
                                         Price per Batch shall be [***], and (ii) [***], in each case [***].

 

		10.2	The
                                         following terms apply to the Price and payment for the Products:

 

	Payment
    Period	Payments
    shall be made in accordance with the Master Agreement
	Invoice
    Currency	Euro
	Invoice
    Address	[***]
	IDT
    Bank Account	[***]
	Pro
    rata credit of Capacity Reservation Fee	The
    Capacity Reservation Fee paid (or payable) according to Clause 3.2 above less the verified recruitment costs shall be credited
    proportionally against the invoices for the Shipment of the number of Batches which correspond to the Capacity Reservation.
    For the sake of clarity, subject to Clause 3.3, if and to the extent, for any reason outside IDT’s scope of responsibility,
    Valneva does not order the Product corresponding to such Batches to be Manufactured in the applicable Reservation Period in
    accordance with this Product Schedule and the Master Agreement, IDT shall be entitled to retain the relevant part of the Capacity
    Reservation Fee. 

 

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		11.	Supply
                                         of Valneva Materials and Other Materials

 

		11.1	In
                                         this Clause:

 

	Valneva
    Materials	mean
        the materials shown in Appendix C “Valneva Materials”. 

         

	Valneva
Materials

        Forecast

         
	Valneva
    Materials shall be procured by Valneva in accordance with the IDT Forecast for Valneva Materials set forth in Clause 8.1 of
    the Master Agreement. 
	Other
    Materials 	has
    the meaning described in Clause 11.3.
	Certification	means
        the act of approving (accepting) quality control results provided in the Certificate of Analysis by Valneva in relation
        to specific Valneva Materials, eliminating the need to undertake some, or all, quality control tests.

         

 

		11.2	Supply
                                         of Valneva Materials: Valneva, at its sole cost and expense, shall supply Valneva
                                         Materials to IDT in accordance with this Product Schedule and the Master Agreement and
                                         in accordance with the IDT Forecast.

 

		11.3	Other
                                         Materials: IDT shall procure all other materials required in order to perform its
                                         obligations in accordance with the terms of this Product Schedule (“Other Materials”).
                                         All Other Materials used by IDT shall comply with the standards set out in, and shall
                                         be inspected by IDT in accordance with the QAA. IDT shall use Commercially Reasonable
                                         Efforts to procure Other Materials in due time before Manufacture, however IDT shall
                                         not be responsible for any delays in the procurement of such Other Material or any failure
                                         of a supplier to deliver Other Materials or third party testing services if IDT used
                                         Commercially Reasonable Efforts in the procurement process and to the extent the delay
                                         or non-delivery is not otherwise due to IDT’s fault. In case Other Materials have
                                         not been consumed and used in the Manufacturing of Batches, in case of termination or
                                         expiration of this Product Schedule or the Agreement and in case Valneva has not exercised
                                         the Call Option any and all Other Materials shall be delivered to Valneva not later than
                                         within [***] post termination or expiration or receipt of notice that Valneva will not
                                         exercise the Call Option. In such case Valneva shall pay [***] (“Termination
                                         Fee”). For clarity, any 2022 Advance Payment according to Clause 11.5 or 2023
                                         Advance Payment according to Clause 11.6 remaining for the 2022 and 2023 Manufacturing
                                         Plan shall be deducted from the Termination Fee (also in case of Call Option not exercised).
                                         For the avoidance of doubt, any Advanced Payment not credited against an invoice will
                                         be paid back to Valneva.

 

		11.4	Other
                                         Materials Provided by Valneva: The Parties acknowledge that Valneva has materials
                                         on stock which may be used to Manufacture Batches in 2022 instead of using Other Materials
                                         procured by IDT (“Valneva Other Materials”). Valneva shall have the
                                         right to request and the Parties shall discuss in good faith IDT’s use of Valneva
                                         Other Material to Manufacture Batches in 2022 which Valneva Other Materials shall be
                                         provided by Valneva as Valneva Material. The Parties shall agree on the usage of Valneva
                                         Other Materials and the addition of the Valneva Other Materials to the Valneva Material
                                         (Appendix C) for a limited time in an Amendment to this Product Schedule and in
                                         particular an amended Appendix C. For clarity, such Other Materials procured from
                                         Valneva shall be excluded from the definition of Termination Fee.

 

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		11.5	Advance
                                         Payment for the 2022 Manufacturing Plan. Valneva shall pay [***] on or after the
                                         Effective Date to finance the procurement by IDT of the Other Materials which is needed
                                         to Manufacture the Batches in accordance with Appendix B (“2022 Advance
                                         Payment”). IDT shall credit the 2022 Advanced Payment against the [***] last
                                         Batches delivered to Valneva in accordance with Appendix B in a way that with
                                         the invoice for the last Batch the 2022 Advanced Payment shall be consumed. 

 

		11.6	Advance
                                         Payment for the 2023 Manufacturing Plan. IDT shall procure Other Materials required
                                         for the fulfilment of the 2023 Manufacturing Plan as set forth in Appendix H right
                                         after the Effective Date and then on a quarterly basis following the Effective Date.
                                         Valneva shall make an initial advanced payment for such Other Materials in the amount
                                         set forth in Appendix H on or after the Effective Date and thereafter on a quarterly
                                         basis for the Other Materials to be procured in the following quarter (“2023
                                         Advance Payments”). The 2023 Advanced Payments shall be credited against the
                                         [***] last deliveries of Batches Called in a way that with the invoice for the last Batch
                                         shipped in 2023 the 2023 Advanced Payment shall be consumed.

 

		11.7	Wastage
                                         and Loss: IDT shall use Commercially Reasonable Efforts to minimize wastage of Valneva
                                         Materials and Other Materials.

 

		11.8	Keep
                                         Separate: IDT shall separate all Valneva Materials and mark such Materials appropriately
                                         or as otherwise set forth in the Master Agreement.

 

		11.9	Inventory
                                         Stock Count. In addition to Clause 25.7, Valneva and/or its representatives shall,
                                         have the right to attend the regular stock count on Valneva Materials performed by IDT.
                                         IDT shall provide Valneva with notice on such stock count not later than [***] in advance.
                                         Such inventory stock count shall be free of charge to Valneva.

 

		11.10	Quality
                                         and Testing: IDT shall manage quality control, inspection and testing of Valneva
                                         Materials according to the relevant specifications and test methods. IDT shall certify
                                         sources of Valneva Materials according to IDT procedures and GMP. If Certification is
                                         applied for Valneva Materials, IDT shall at the minimum perform identity testing to mitigate
                                         quality and safety, health and environmental risks. Valneva will upon the result of such
                                         investigation handle any claims against the suppliers of the Valneva Materials.

 

		12.	Recalls

 

		12.1	The
                                         decision to initiate a Recall or to take other corrective action, if any, with respect
                                         to the Product will be made by Valneva. In case of a recall, IDT undertakes to assist
                                         Valneva in the recall process, as appropriate, having regard to Applicable Laws, and
                                         especially (a) the EU Guidelines for Good Manufacturing Practice for Medicinal Products
                                         for Human Use and Veterinary Use – Part 1 – Chapter 8 “Complaints,
                                         Quality Defects and Product Recalls” and (b) the compilation of Community procedures
                                         on inspections and exchange information in the meaning of article 3 (1) of the Commission
                                         Directive 2003/94/EC of 8 October 2003 laying down the principles and guidelines of good
                                         manufacturing practice in respect of medicinal products for human use and investigational
                                         medicinal products for human use.

 

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		13.	MISCELLANEOUS

 

		13.1	Confidentiality
                                         and Trade Secrets. Clause 15 of the Master Agreement (Confidentiality and Trade Secrets)
                                         shall be incorporated hereby by reference. Trade secrets relevant to this Product Schedule
                                         is attached hereby as Appendix F.

 

		13.2	Approved
                                         Services Provider: IDT acknowledges and agrees that IDT have been approved by the
                                         European Commission (“EC”) as a services provider to Valneva. IDT
                                         shall provide Valneva with all corporate documents, regulatory licences requested by
                                         the EC necessary for such approval without undue delay after receipt of request.

 

		13.3	Access
                                         to Information. In addition to Clause 17 of the Master Agreement the Parties hereby
                                         agree that in case a Third Party brings any action against Valneva, the European Commission
                                         or any Participating Member State pertaining to the Product, IDT shall give Valneva,
                                         or an independent expert, access to reasonable information necessary for Valneva to assess
                                         liabilities. This information shall include data generated relevant to the Manufacturing
                                         of the Product including quality control data.

 

		13.4	Checks
                                         and audits. The Parties acknowledge that the European Commission (“EC”)
                                         and the European Anti-Fraud Office (“OLAF”) may check or require an
                                         audit on Valneva and its subcontractors (“EC Audit”). IDT hereby agrees
                                         to abide by the provisions set forth in this Clause 13.4.

 

An
EC Audit may be carried out either by OLAF’s own staff or by any outside body authorised to do so on its behalf, provided
that such auditor may not be a competitor of IDT or any other conflict of interest exists.

 

EC
Audits may be initiated at any time during business hours during the Term this Project Schedule and up to [***] years starting
from the payment of the last Purchase Order issued under this Project Schedule.

 

The
EC Audit procedure is initiated on the date of receipt of the letter sent by Valneva and/or the European Commission, and Valneva
and/or the European Commission shall provide a reasonable prior notice to IDT. EC Audits are carried out on a confidential basis.

 

EC
Audit missions scope applies to IDT’s compliance with applicable regulatory standards insofar as relevant for the Manufacture
and Shipment of Product under the Master Agreement and this Product Schedule. EC Audit missions may not be extended to a broader
audit of IDT’s activities or IDT’s contractual relations, which do not involve Valneva.

 

IDT
must grant the appropriate right of access to sites and premises where the Product is Manufactured for, and Shipped to Valneva,
and to all information, including information in electronic format, needed to conduct such checks and audits. IDT must use its
Commercially Reasonable Efforts to ensure that the information is readily available at the moment of the EC Audit and, if so requested,
that information is handed over in an appropriate format. The auditor must, insofar possible, comply with all applicable and reasonable
security measures notified to Valneva and/or the European Commission by IDT, and minimize disruption in IDT’s operations, subject
to this not creating any material obstacles for the performance of the auditor’s tasks.

 

On
the basis of the findings made during an EC Audit, a provisional report is drawn up. Valneva or its authorised representative
must send the provisional report to IDT, and IDT has [***] following the date of receipt to submit observations. IDT shall receive
a final report within [***] following the expiry of the deadline to submit observations.

 

     10

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

If,
on the basis of the final EC Audit findings, Valneva wishes to challenge all or part of the payments made under the Master Agreement
and/or this Product Schedule, and the Parties cannot reach an agreement, any dispute between the Parties in this respect shall
be settled under Clause 22.12 of the Master Agreement.

 

In
accordance with Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspection carried
out by the European Commission in order to protect the European Communities’ financial interests against Fraud and other
Irregularities and Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning
investigations conducted by the European Anti-Fraud Office, the European Anti- Fraud Office may carry out investigations, including
on the spot checks and inspections, to establish whether there has been Fraud, corruption or any other illegal activity under
the Master Agreement and this Product Schedule affecting the financial interests of the European Union. Findings arising from
an investigation may lead to criminal prosecution under national law.

 

The
investigations may be carried out at any moment during hours during the Term of this Project Schedule and up to [***] years starting
from the payment of the last Purchase Order issued under this Project Schedule.

 

The
Court of Auditors and the European Public Prosecutor’s Office established by Council Regulation (EU) 2017/1939 (‘the
EPPO’) have the same rights as Valneva and the European Commission, particularly right of access, for the purpose
of checks, audits and investigations.

 

		13.5	Conflict
                                         of Interest and Professional Conflicting Interests. IDT must use Commercially Reasonable
                                         Efforts to prevent any situation of Conflict of Interest.

 

IDT
must notify Valneva as soon as possible of any situation that could constitute a Conflict of Interest during the Term of this
Project Schedule. IDT must immediately take action to rectify the situation.

 

If
the action is not sufficient, Valneva may require IDT to take further action within a specified deadline which shall be reasonable
taking into account the context of the situation.

 

IDT
shall have the possibility to complete a rectification of the conflicting situation within a period of [***] or a shorter period
if the urgency of the situation requires such shorter period.

 

		13.6	Disclosure
                                         by the European Commission. IDT acknowledges that the European Commission, along
                                         with other agencies and offices of the European Union (collectively, the “European
                                         Institutions”), are subject to requirements under Regulation (EC) 1049/2001,
                                         which may require the European Institutions to disclose information to Third Parties
                                         on request. The European Commission commits itself to assess any request for access to
                                         a document that relates to the Master Agreement and this Project Schedule according to
                                         the exclusions or exceptions set forth in Regulation (EC) 1049/2001.

 

     11

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

		13.7	The
                                         Parties agree that IDT shall provide regulatory support services consisting of the provisions
                                         of data and documents pertaining to the Manufacturing of Product to support finalization
                                         of the initial Product registration (Marketing Authorization) in the EU free of charge.

 

     12

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Execution

 

This
Product Schedule is executed by the authorised representatives of the Parties as of the Effective Date.

 

	SIGNED
for and on behalf of 

        Valneva
Austria GmbH
	SIGNED
for and on behalf of

        IDT
Biologika GmbH

	By:	By:
	Name:
    [***]	Name:
    [***]
	Title:
    [***]	Title:
    [***]
	Date:
    29 November 2021	Date:
    26 November 2021

 

	SIGNED
for and on behalf of  

        Valneva
Austria GmbH
	 
	By:	 
	Name:
    [***]	 
	Title:
    [***]	 
	Date:
    29 November 2021	 

 

     13

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
A-1 – Manufacturing Specifications and Product Specifications

 

[***]

 

     14

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

[***]

 

     15

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
A-2 – Valneva Expectation

 

[***]

 

     16

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
B – Manufacturing Plan, Firm Purchase Orders (2022)

 

[***]

 

     17

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
C - Valneva Materials to be supplied in accordance with the IDT Forecast

 

[***]

 

     18

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
D - Storage Fees pertaining to Product in accordance with Section 9.1

 

[***]

 

     19

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
E – Expected Yields and Yield Calculation

 

[***]

 

     20

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
F - Valneva Trade Secrets

 

[***]

 

     21

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
G –2023 Manufacturing Plan

 

[***]

 

     22

     

    

 

SUPPLY PRODUCT SCHEDULE
Product VLA2001_Final

 

Appendix
H – Other Materials for 2023 Manufacturing Plan

 

[***]

 

     23Valneva SE 20-F

Exhibit 10.13

  

	AMENDMENT
    OF SOLICITATION/MODIFICATION OF CONTRACT	1.
                                         CONTRACT ID CODE

        J
	PAGE
    1 OF 2	 
	2.
                                         AMENDMENT/MODIFICATION NO.

        P00001
	3.
                                         EFFECTIVE DATE

        See
        Blk. 16C
	4.
                                         REQUISITION/PURCHASE REQ. NO

        See
        Block 14
	5.
                                         PROJECT NO. (If applicable)

         
	 
	6.
    ISSUED BY	CODE	 	7.
    ADMINISTERED BY (if other than Item 6)	CODE  	 SPE2DP       	 
	DLA
    TROOP SUPPORT

    MEDICAL SUPPLY CHAIN PHARM FSA

    700 ROBBINS AVENUE

    PHILADELPHIA PA 19111

    USA

    Initiator [***]

    PCPQBC3 Tel 215-737-3978 FAX 215-737-3276 Email [***]	DLA
    TROOP SUPPORT

    MEDICAL SUPPLY CHAIN PHARM FSA

    700 ROBBINS AVENUE

    PHILADELPHIA PA 19111

    USA	 
	8.
                                         NAME AND ADDRESS OF CONTRACTOR (No., Street, County, State, and Zip Code)      

         

        VALNEVA
        USA, INC

        910
        CLOPPER RD STE 160S

        GAITHERSBURG
        MD 20878-1361

        USA
	(X)	9A.
                                         AMENDMENT OF SOLICITATION NO.

         
	 
	 	 
	9B.
                                         DATED (SEE ITEM 11)

         
	 
	X	10A.
                                         MODIFICATION OF CONTRACT/ORDER NO.

        SPE2DP-20-D-0005
	 
	CODE    43FM1
                                	FACILITY
    CODE	10B.
                                         DATED (SEE ITEM 13)

        2020
        Sep 09
	 
	11.
    THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS	 
	 	 	 
	 	 	 	 	 	 	 	 

☐
The above numbered, solicitation is amended as set forth in item 14. The hour and date specified
for receipt of Offers ☐ is extended ☐
is not extended.

 

Offers must acknowledge receipt of
this amendment prior to the hour and date specified in the solicitation or as amended by one of the following methods:

 

(a) By completing Items 8 and
15, and returning ______ copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted;
or (c) By separate letter or telegram which includes a reference to the solicitation and amendment numbers, FAILURE OF YOUR ACKNOWLEDGMENT
TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION
OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted, such change may be made by telegram
or letter, provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the
opening hour and date specified.

	12. ACCOUNTING AND
        APPROPRIATION DATA (If required)

         

	13.
    THIS ITEM APPLIES ONLY TO MODIFICATIONS OF CONTRACTS/ORDERS,

    IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14
	CHECK
    ONE

    
	A.
    THIS CHANGE ORDER IS ISSUED PURSUANT TO:  (Specify Authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE
    CONTRACT ORDER NO. IN ITEM 10A.    
	 	B.
    THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office,
    appropriation date, etc.) SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY OF FAR 43.103(b).
	 	C. THIS SUPPLEMENTAL
        AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:

         

	X	D. OTHER (Specify
        type of modification and authority)

             FAR 52.217-9 Option to
        Extend the Term of the Contract and mutual agreement

	E.
    IMPORTANT: Contractor  ☐ is
    NOT,   ☒ is required to sign this document
    and return   1     copies to the issuing office.
	14. DESCRIPTION
        OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter where
        feasible.)

        See
        Continuation Sheet

	Except
    as provided herein, all terms and conditions of the document referenced in Item 9A or 10A, as heretofore changed, remains
    unchanged and in full force and effect.
	15A. NAME AND TITLE
        OF SIGNER (Type or print)

        [***]

        [***]
	16A. NAME AND TITLE
        OF CONTRACTING OFFICER (Type or print)

        [***]

	15B. CONTRACTOR/OFFEROR

        /s/
        [***]
	15C. DATE SIGNED

        Aug
        30, 2021
	16B. UNITED STATES
        OF AMERICA

        /s/
        [***]
	16C. DATE SIGNED

        9/2/2021

	 (Signature
    of person authorized to sign)	 	 (Signature
    of Contracting Officer)	 
	 	 	 	 	 

	NSN 7540-01-152-8070	STANDARD
    FORM 30 (REV. 10-83)
	Previous Edition Unusable	Prescribed by GSA
    FAR (48 CFR)     

  

/s/ [***]

[***] 31 AUG
2021

[***]

 

     

     

    

 

	CONTINUATION SHEET	REFERENCE NO. OF DOCUMENT BEING CONTINUED:

SPE2DP-20-D-0005 / P00001	PAGE 2 OF 2 PAGES
	
         

         

        A. Option 1 is hereby exercised effective for the period of
        September 2, 2021 through September 1, 2022.

        B. Option Year 1 quantities are hereby changed from [***] doses
        minimum and [***] doses maximum to [***] doses minimum and [***] doses maximum.

        C. Valneva will hereby provide [***] on all Option Year 1 delivered
        quantities in lieu of the contractually agreed upon [***].

        D. Valneva’s letter dated 8/30/21 is hereby incorporated
        by reference.

        E. All other terms and conditions remain the same.

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

[***] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) CUSTOMARILY AND ACTUALLY
TREATED BY THE REGISTRANT AS PRIVATE OR CONFIDENTIAL.

 

    	 	 	 

    	 

    

 

  

	AMENDMENT
    OF SOLICITATION/MODIFICATION OF CONTRACT	1.
                                         CONTRACT ID CODE

        J
	PAGE
    1 OF 2	 
	2.
                                         AMENDMENT/MODIFICATION NO.

        P00002
	3.
                                         EFFECTIVE DATE

        See
        Blk. 16C
	4.
                                         REQUISITION/PURCHASE REQ. NO

        See
        Block 14
	5.
                                         PROJECT NO. (If applicable)

         
	 
	6.
    ISSUED BY	CODE  	 	7.
    ADMINISTERED BY (if other than Item 6)	CODE  	 SPE2DP       	 
	DLA
TROOP SUPPORT

MEDICAL SUPPLY CHAIN PHARM FSA

700 ROBBINS AVENUE

PHILADELPHIA PA 19111

USA

Initiator [***]

PCPQBC3 Tel 215-737-3978 FAX 215-737-3276 Email [***]	DLA
    TROOP SUPPORT

    MEDICAL SUPPLY CHAIN PHARM FSA

    700 ROBBINS AVENUE

    PHILADELPHIA PA 19111

    USA	 
	8.
                                         NAME AND ADDRESS OF CONTRACTOR (No., Street, County, State, and Zip Code)      

         

        VALNEVA
        USA, INC

        910
        CLOPPER RD STE 160S

        GAITHERSBURG
        MD 20878-1361

        USA
	(X)	9A.
                                         AMENDMENT OF SOLICITATION NO.

         
	 
	 	 
	9B.
                                         DATED (SEE ITEM 11)

         
	 
	X	10A.
                                         MODIFICATION OF CONTRACT/ORDER NO.

        SPE2DP-20-D-0001
	 
	CODE    43FM1
                                	FACILITY
    CODE	10B.
                                         DATED (SEE ITEM 13)

        2019
        JAN 15
	 
	11.
    THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS	 
	 	 	 
	 	 	 	 	 	 	 	 

☐
The above numbered, solicitation is amended as set forth in item 14. The hour and date specified
for receipt of Offers ☐ is extended ☐
is not extended.

 

Offers must acknowledge receipt of
this amendment prior to the hour and date specified in the solicitation or as amended by one of the following methods:

 

(a) By completing Items 8 and
15, and returning ______ copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted;
or (c) By separate letter or telegram which includes a reference to the solicitation and amendment numbers, FAILURE OF YOUR ACKNOWLEDGMENT
TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION
OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted, such change may be made by telegram
or letter, provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the
opening hour and date specified.

	12. ACCOUNTING AND
        APPROPRIATION DATA (If required)

         

	13.
    THIS ITEM APPLIES ONLY TO MODIFICATIONS OF CONTRACTS/ORDERS,

    IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14
	CHECK
    ONE

    
	A.
    THIS CHANGE ORDER IS ISSUED PURSUANT TO:  (Specify Authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE
    CONTRACT ORDER NO. IN ITEM 10A.    
	 	B.
    THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office,
    appropriation date, etc.) SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY OF FAR 43.103(b).
	 	C. THIS SUPPLEMENTAL
        AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:

         

	X	D. OTHER (Specify
        type of modification and authority)

             Mutual Agreement of the Parties via phone call 7/1/21

	E.
    IMPORTANT: Contractor  ☐ is
    NOT,   ☒ is required to sign this document
    and return   1     copies to the issuing office.
	14. DESCRIPTION
        OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter where
        feasible.)

        See
        Continuation Sheet

	Except
    as provided herein, all terms and conditions of the document referenced in Item 9A or 10A, as heretofore changed, remains
    unchanged and in full force and effect.
	15A. NAME AND TITLE
        OF SIGNER (Type or print)

        [***]

        [***]
	16A. NAME AND TITLE
        OF CONTRACTING OFFICER (Type or print)

        [***]

	15B. CONTRACTOR/OFFEROR

        /s/
        [***]
	15C. DATE SIGNED

        Aug
        30, 2021
	16B. UNITED STATES
        OF AMERICA

        /s/
        [***]
	16C. DATE SIGNED

        9/2/2021

	 (Signature
    of person authorized to sign)	 	 (Signature
    of Contracting Officer)	 
	 	 	 	 	 

	NSN 7540-01-152-8070	STANDARD
    FORM 30 (REV. 10-83)
	Previous Edition Unusable	Prescribed by GSA
    FAR (48 CFR)     

  

/s/ [***]

[***] 31 AUG
2021

[***]

 

     

     

    

 

	CONTINUATION SHEET	REFERENCE NO. OF DOCUMENT BEING CONTINUED:

SPE2DP-19-D-0001 / P00002	PAGE 2 OF 2 PAGES
	
         

        A. Valneva will provide [***] replacement doses of Japanese Encephalitis Vaccine (JEV), at no additional cost to the government,
for any JEV product from the subject contract that expired [***] at the Defense Logistics Agency (DLA) depot locations. These
replacement doses shall not be delivered prior to September 2023. All doses must be received by [***]. The JEV doses shall
be delivered with [***]. Shipment and delivery will be coordinated between Valneva and DLA prior to any doses being delivered
to DLA Distribution Susquehanna Pennsylvania (DDSP).

        B. All other terms and conditions remain the same.

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

[***] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) CUSTOMARILY AND ACTUALLY
TREATED BY THE REGISTRANT AS PRIVATE OR CONFIDENTIAL.

 

    	 	 	 

    	 

    

 

 

 

 

VALNEVA USA, INC.

910 Clopper Road, Suite 160S

Gaithersburg. MD 20878, USA

 

	
        [***]

        [***]

        Contracting Officer

        Defense Logistics Agency – Troop Support

        Business Opportunities Office

        Bldg. 36, 2nd Floor, Room 2035

        700 Robbins Avenue

        Philadelphia, PA 19111-5092
	 

                                             

                                             

                                            BY EMAIL

 

		Re:	Option Year 1 Under DLA
Contract No. SPE2DP-20-D-0005 For Japanese Encephalitis Virus, Purified, Inactivated Vaccine

 

Dear [***],

 

As discussed, Valneva USA, Inc. (“Valneva”)
has set forth below the revisions to DLA Contract No. SPE2DP-20-D-0005 (the “Contract”) that will be implemented with
the exercise of the first Option Year for the period of August 24, 2021 through August 23, 2022 under the Contract as agreed to
between DLA and Valneva. Specifically:

 

		1.	Valneva will provide [***] replacement doses at no cost to DLA should any of the doses purchased
during the base year of the Contract expire. DLA will be required to return the expired doses, [***], to Valneva within [***] of
the expiry date. Valneva will ship replacement doses, [***], to DLA upon receipt of notice from DLA, provided that DLA notifies
Valneva at least [***] prior to the expected delivery date for the replacement doses.

 

		2.	Valneva will provide [***] expiry dating on all Option Year 1 delivered quantities to DDSP [***].

 

		3.	The minimum quantity for Option Year 1 will be revised from [***] to [***] doses. The maximum
quantity for Option Year 1 will be revised from [***] to [***]. Doses are packaged in quantities of [***] so quantities must be
divisible by [***].

 

		4.	The following delivery schedule will apply:

 

	Month/Year	Doses
	08/21	[***]
	09/21	[***]
	10/21	[***]
	11/21	[***]
	12/21	[***]
	01/22	[***]
	02/22	[***]
	03/22	[***]
	04/22	[***]
	05/22	[***]
	06/22	[***]
	07/22	[***]
	08/22	[***]

 

	T  +1
                                         301-556-4500

                           F  +1
                           301-556-4501

                           www.valneva.com
	 

 

    

     

    

 

 

Contracting Officer [***]

July 17, 2020

Page 2

 

As noted above, no doses to be shipped from January to
June 2022. For orders above the minimum guaranteed quantities, Valneva will agree to deliveries at DLA’s discretion provided
that DLA (a) provides Valneva with [***] lead time for each order and (b) each order is equal to or in excess of the minimum order
quantity set forth in FAR Clause 52.216-19, Order Limitations. The dates above are proximate. Valneva will work with DLA to accommodate
minor revisions as reasonably necessary.

 

		5.	DLA will provide monthly utilization reports to Valneva of doses distributed at the lowest level permissible but in no event
no lower than the national level.

 

		6.	All other terms and conditions remain the same.

 

Per past practices, Valneva would appreciate if DLA would incorporate
this letter by reference into the Option Year 1 modification for clarity.

 

Thank you for your assistance in this matter.

 

[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) CUSTOMARILY AND ACTUALLY TREATED BY THE REGISTRANT
AS PRIVATE OR CONFIDENTIAL.

 

 2/3

    

     

    
	 	 

 

Contracting Officer [***]

July 17, 2020

Page 2

 

Best regards,

 

 

	
        [***]

        [***]

        VALNEVA USA, INC.

        (A VALNEVA SE AFFILIATE)

        910 Clopper Rd. Suite 160S

        Gaithersburg, MD 20878

        U.S.A.

        E [***]

        T [***]

        M [***] 
	

 

[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) CUSTOMARILY AND ACTUALLY TREATED BY THE REGISTRANT
AS PRIVATE OR CONFIDENTIAL.

 

3/3

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