Document:

Exhibit 10.2

  

   

    

  CONFIDENTIAL TREATMENT REQUESTED BY CIBUS GLOBAL, LTD.—CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION

  

  

  

  

  

  

  Warrant Transfer and Exchange Agreement

  

  

  By and Between

  

  

  Cibus Global, Ltd.,

  

  

  The Persons and Entities Named herein as Sellers

  

  

  and

  

  

  Rory Riggs, as the Seller Representative

  

  

  Dated as of December 31, 2014

  

  

  
    
      

  

  WARRANT TRANSFER AND EXCHANGE AGREEMENT

  

  

  This WARRANT TRANSFER AND EXCHANGE AGREEMENT (this “Agreement”),
      is made and entered into as of December 31, 2014 (the “Effective Date”), by and among Cibus Global, Ltd., a company organized under the laws of the British Virgin Islands (“Cibus”),  each of the Investors (as defined below) who become a party hereto as a “Seller” pursuant to Section 1.3 hereof (each, a “Seller” and collectively, the “Sellers”), and Rory Riggs, an individual, as the representative of the Sellers (the “Seller Representative”).  Defined terms used herein and not otherwise defined shall have the meaning set forth in Section 10.1 hereof.

  

  

  W I T N E S S E T H:

  

  

  WHEREAS, Cibus previously issued to certain investors in November 2013 warrants to purchase an aggregate of 6,949,868 shares of Cibus’ Series
      A Preferred Stock at an exercise price of $2.00 per share (as the same may be amended from time to time, the “First Tranche Warrants”);

  

  

  WHEREAS, in July of 2014 Cibus undertook a unit financing transaction pursuant to the terms and conditions of a Confidential Private
      Placement Memorandum dated July 22, 2014 (the “Subsequent Financing”) pursuant to which Cibus initially offered $7,000,000 of units (each, a “Unit”), with each Unit being comprised of (a) one share of Series A Preferred Stock in Cibus, and (b) a warrant to purchase two additional shares of Series A Preferred Stock in Cibus at an exercise
      price of $2.00 per share;

  

  

  WHEREAS, (a) in October of 2014, Cibus and the requisite investors in the Subsequent Financing elected to amend the terms of the Subsequent
      Financing in order to issue and sell an additional $4,000,000 of Units; and (b) in December 2014, Cibus and the requisite investors in the Subsequent Financing elected to amend the terms of the Subsequent Financing in order to issue and sell an
      additional $2,500,000 of Units (collectively, the “Financing Amendment”).

  

  

  WHEREAS, in the event the maximum amount of Units are sold in the Subsequent Financing (inclusive of the Financing Amendment), Cibus will
      issue warrants to purchase up to an additional 21,600,000 aggregate shares of Series A Preferred Stock, consisting of (a) warrants issued by Cibus in the Subsequent Financing attributable to the conversion of certain promissory notes issued by Cibus
      (the “Second Tranche Warrants”), (b) warrants issued to investors in connection with cash investments in the Subsequent Financing (exclusive of cash investments made in
      connection with the Financing Amendment (the “Third Tranche Warrants”)), and (c) warrants issued in connection with additional cash investments made in connection with the
      Financing Amendment (the “Fourth Tranche Warrants,”)

  

  

  WHEREAS, the Board has approved the issuance of warrants to purchase up to an additional 3,542,662 shares of Series A Preferred to certain of
      Cibus’ members as a conversion rate correction resulting from Cibus’ acquisition of Nucelis, Inc. (the “Correction Warrants”), which Correction Warrants will be deemed to
      have been issued on December 31, 2013.

  

  

  WHEREAS, the First Tranche Warrants, the Second Tranche Warrants, the Third Tranche Warrants and the Correction Warrants shall be
      collectively referred to herein as the “Warrants”).  The shares of Series A Preferred Stock subject to such Warrants are referred to herein as the “Warrant Shares”).

  

  

  
    
      

  

  
  WHEREAS, the holders of the Warrants (collectively, the “Investors”)

      and Cibus have agreed that on the terms and conditions set forth herein and in their respective Warrants, each of the Investors may sell some or all of its Warrants (such Warrants which an Investor elects to sell being referred to collectively as,
      the “Subject Warrants”) to Cibus in exchange for an interest in certain future revenues of Cibus, as further detailed and on the terms and conditions set forth in this
      Agreement.

  

  

  NOW THEREFORE, in consideration of the representations, warranties, covenants and agreements set forth herein and for good and valuable
      consideration, the receipt and adequacy of which are hereby acknowledged, Cibus, the Seller Representative and the Sellers hereby agree as follows:

  

  

  ARTICLE 1

  

  

  PURCHASE AND SALE OF WARRANTS

  

  

  Section 1.1
                Purchase and Sale of Warrants.  Each Investor who becomes a party to this Agreement as a Seller pursuant to Section 1.3 hereof hereby agrees to sell, transfer and convey to Cibus at the applicable Closing, subject to and on
      the terms and conditions set forth in this Agreement, the applicable Subject Warrants, in exchange for the applicable Warrant Purchase Consideration.

  

  

  Section 1.2         Closings.  Subject to the satisfaction of the conditions set forth
      in ARTICLE 4, each closing of the sale and transfer of Subject Warrants (each, a “Closing”) shall take place remotely via the exchange of documents and signatures as set
      forth in this ARTICLE 1 on a date mutually agreed upon by Cibus and the Seller Representative promptly following an Investor’s or Investors’ election, as evidenced by its delivery to the Seller Representative of the original Subject Warrant together
      with an executed Joinder Agreement in the form attached hereto as Exhibit A (the “Joinder Agreement”)
      in accordance with Section 1.3, which Joinder Agreement shall include a full release by the holder of the applicable Subject Warrants of any and all claims arising out of or related to the applicable Subject Warrants other than those expressly
      arising out of or relating to this Agreement, to sell such Subject Warrants to Cibus for and in consideration of Warrant Purchase Consideration attributable to the Warrant Shares subject to each such Subject Warrant, and in any event not later than 5
      Business Days following the Seller Representative’s delivery of such Joinder Agreement to Cibus (each, a “Closing Date”), or such other place, time or date as Cibus and the
      Seller Representative may mutually agree.  Subject to the provisions of ARTICLE 8, failure to consummate any Closing on the applicable Closing Date shall not relieve any party hereto of any of its respective obligations hereunder.  In connection with
      each Closing, each Subject Warrant which is sold to Cibus in accordance with this Section 1.2 shall be cancelled by Cibus.  Notwithstanding anything to the contrary herein, no Closing shall occur with respect to any Subject Warrant prior to the first
      Business Day following the one-year anniversary of the original issuance date of such Subject Warrant to the applicable Investor (which date shall be the date upon which Cibus accepted the investment by the applicable Investor that resulted in the
      issuance of such Warrants, as reflected on the books and records of Cibus, or with respect to the Correction Warrants, December 31, 2013) (the “One-Year Holding Period”),
      and Cibus shall be under no obligation to purchase any Subject Warrant prior to such date; provided, however, that with respect to any Second Tranche Warrants
      issued in the Subsequent Financing to an Investor in connection with the conversion of a convertible note issued to such Investor in the Bridge Financing, the applicable Closing may occur at any time after the first Business Day following the
      one-year anniversary of the date on which the funds subject to such convertible note were advanced by such Investor to Cibus in the Bridge Financing.

  
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    Section 1.3          Investor Election to Sell Warrants.

    

    

  

  
    (a)          Subject to the terms and conditions of this Section 1.3,
        the Seller Representative agrees that in the event any Investor elects to sell any Subject Warrants to Cibus pursuant to the terms and conditions of this Agreement, the Seller Representative shall cause such Investor to deliver to the Seller
        Representative the applicable original Subject Warrant and an executed Joinder Agreement.  The Seller Representative shall provide Cibus with copies of any such Joinder Agreements promptly following receipt of the same (but in any event, within
        five Business Days of receipt thereof).  The Seller Representative hereby covenants and agrees with Cibus as follows: (i) it shall not accept or deliver to Cibus any Joinder Agreements (or related Subject Warrants), and no such Joinder Agreement
        shall become effective with respect to any Subject Warrants purported to be sold to Cibus thereby, until the first Business Day following the One-Year Holding Period for such Subject Warrants (subject to exception as set forth in Section 1.2 to
        Second Tranche Warrants issued in connection with the conversion of convertible promissory notes issued in the Bridge Financing); and (ii) it shall not accept or deliver to Cibus any Joinder Agreement (or related Subject Warrants), and no such
        Joinder Agreement shall become effective with respect to any Subject Warrants purported to be sold to Cibus thereby, at any time after the expiration of the applicable exercise period thereof.

    

    

    (b)          Notwithstanding anything in this Section 1.3 to the
        contrary and subject to the provisions of Section 1.6, the Seller Representative and each of the Sellers hereby acknowledges and agrees that the maximum aggregate Participation Rate shall not exceed 10% and Cibus shall not purchase any Subject
        Warrants to the extent such purchase would cause the aggregate issued Participation Rate to exceed 10%.  The Sellers hereby agree and the Seller Representative hereby covenants and agrees that it will not accept any Joinder Agreements (and related
        Subject Warrants) from any Investor or submit any Joinder Agreements (and related Subject Warrants) to be sold to Cibus pursuant to the provisions of this Section 1.3 if the sale of such Subject Warrants to Cibus would result in the aggregate
        issued Participation Rate exceeding 10%, in each case subject to the provisions of Section 1.6.  Accordingly, all Warrants shall be accepted by Cibus in the order in which the applicable Joinder Agreements are received by the Seller Representative
        and provided to Cibus.

    

    

    (c)          In the event that prior to the Minority Protection
        Outside Date, Minority Investors concurrently deliver Joinder Agreements to the Seller Representative pursuant to the provisions of Section 1.3 which would result in the aggregate issued Participation Rate held by all Minority Investors exceeding
        the Minority Investor Cap if all such Subject Warrants were purchased by Cibus, the Subject Warrants submitted by such Minority Investors for sale to Cibus shall be reduced pro rata based on the number of Warrant Shares subject to each Minority
        Investor’s applicable Joinder Agreement.

    
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    (d)          In the event that prior to the Minority Protection
        Outside Date, Major Investors concurrently deliver Joinder Agreements to the Seller Representative pursuant to the provisions of Section 1.3 which would result in the aggregate issued Participation Rate held by all Major Investors exceeding the
        Major Investor Cap if all such Subject Warrants were purchased by Cibus, the Subject Warrants submitted by such Major Investors for sale to Cibus shall be reduced pro rata based on the number of Warrant Shares subject to each Major Investor’s
        applicable Joinder Agreement.

    

    

    (e)          In the event that after the Minority Protection Outside
        Date, Investors concurrently deliver Joinder Agreements to the Seller Representative pursuant to the provisions of Section 1.3 which would result in the aggregate issued Participation Rate held by all Investors exceeding 10% if all such Subject
        Warrants were purchased by Cibus, the Subject Warrants submitted by such Investors for sale to Cibus shall be reduced pro rata based on the number of Warrant Shares subject to each Investor’s applicable Joinder Agreement.

    

    

  

  Section 1.4
                 No Assumed Obligations, Etc.  Notwithstanding any provision in this Agreement to the contrary, each Seller is only agreeing, on the terms and conditions set forth in this Agreement, to acquire and accept the Warrant Purchase
      Consideration in exchange for the Subject Warrants and is not assuming any liability or obligation of Cibus or any other Cibus Entity of whatever nature, whether presently in existence or arising or asserted hereafter.

  

  

  Section 1.5
                 Security Interest.

  

  

  
    (a)          Effective from and after the initial Closing, Cibus
        hereby grants and shall cause each of the entities listed on Exhibit B (collectively, the “Cibus
            Entities”) to grant to the Sellers, to secure the payment and performance in full of Cibus’ obligations under this Agreement, including the payment of past and future Warrant Purchase Payments, a continuing security interest in the
        Collateral (as defined in the Intellectual Property Security Agreement), wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof, pursuant to and in accordance with the terms of the Intellectual
        Property Security Agreement.  Subject to the terms and conditions of the Intellectual Property Security Agreement, Cibus represents, warrants, and covenants, for and on behalf of itself and each of the other Cibus Entities, that the security
        interest granted pursuant to the Intellectual Property Security Agreement shall at all times continue to be a senior security interest in the Collateral, subject only to Permitted Liens.

    

    

    (b)          Subject to the terms and conditions of Section 5.4(c),
        following Cibus’ failure to make full and prompt payment of any Warrant Purchase Payment or portion thereof when due (such failure, a “Payment Breach”), the Sellers,
        acting solely and exclusively through the Seller Representative (acting as Collateral Agent under the Intellectual Property Security Agreement), shall be entitled to exercise all rights and remedies available under the Intellectual Property
        Security Agreement and this Agreement.

    
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    (c)          On behalf of itself and each of the Cibus Entities,
        Cibus hereby authorizes the Seller Representative, at the sole cost and expense of the Sellers, to file financing statements or take any other action required on behalf of the Sellers to perfect the Sellers’ security interests in the Collateral,
        with notice to the Cibus Entities, in all appropriate jurisdictions to perfect or protect the Sellers’ interest or rights under the Collateral, including a notice that any disposition of the Collateral, except to the extent permitted by the terms
        of this Agreement and the Intellectual Property Security Agreement, by the Cibus Entities, or any other Person, shall be deemed to violate the rights of the Sellers under the Code.  Cibus further agrees to procure, deliver or execute and deliver to
        the Seller Representative, and to cause each of the Cibus Entities to procure, deliver or execute and deliver to the Seller Representative from time to time as reasonably requested, all additional security agreements, instruments and documents,
        each in form and substance reasonably satisfactory to the Seller Representative, to perfect or protect the Sellers’ security interests in the Collateral in accordance with this Section 1.5(c).

    

    

  

  
    Section 1.6          Minority Protection.  Notwithstanding anything contained in this Agreement or any Warrant to the contrary, prior to September 30, 2015 (as such date may be extended by Cibus with the approval of Cibus’ Board of
        Directors in its sole discretion from time to time, the “Minority Protection Outside Date”), (a) the maximum  Participation Rate attributable to the Warrant Purchase
        Consideration issued to the Major Investors in connection with the sale of Warrants pursuant to this Agreement may not exceed nine percent (9%) (the  “Major Investor Cap”);

        and (b) the maximum Participation Rate attributable to the Warrant Purchase Consideration issued to the Minority Investors in connection with the sale of Warrants pursuant to this Agreement may not exceed one percent (1%) (the “Minority Investor Cap”).  After the Minority Protection Outside Date and subject to the provisions of Section 1.3(e), any available Warrant Purchase Consideration may be sold
        by Cibus to any Investor irrespective of the Major Investor Cap and the Minority Investor Cap, as applicable.

    

    

  

  ARTICLE 2

  

  

  TAX MATTERS

  

  

  Section 2.1
                 Tax Matters.

  

  

  
    (a)          The parties agree that for U.S. tax purposes, the
        entitlement of Sellers to receive the Warrant Purchase Consideration is intended to be treated by the Sellers and Cibus for U.S. federal (and applicable state and local) income tax purposes as the issuance by Cibus of “evidences of indebtedness”
        (as such term is used in Reg §15a.453-1(b)(3)) of Cibus.  Consistent with such intentions, the Sellers, the Seller Representative (acting on behalf of the Sellers) and Cibus each agree, except as otherwise required by applicable law, not to take
        any position that is inconsistent with the provisions of the immediately preceding sentence on any tax return or in any audit or other administrative or judicial proceeding unless the parties have consented to such inconsistent positions or the
        party that contemplates taking such an inconsistent position has been advised by nationally recognized tax counsel in writing that there is no “reasonable basis” (within the meaning of Treasury Regulation Section 1.6662-3(b)(3)) for the position
        specified in the above section and has notified the other party of such inconsistency.  If there is an inquiry by any governmental authority of any party related to any transaction pursuant to this Agreement, the parties agree to cooperate with
        each other in responding to such inquiry in a reasonable manner consistent with this paragraph (a).

    
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    (b)          Cibus acknowledges that the Sellers have indicated to
        Cibus their intention to report the sale of the Warrants for U.S. tax purposes under the installment method of accounting (as described in Section 453 of the Internal Revenue Code and Treasury Regulations promulgated thereunder).  Notwithstanding
        any other provision of this Agreement to the contrary, each Seller hereby acknowledges and agrees that neither Cibus nor any of Cibus’ officers, directors, agents, shareholders or representatives (including Cibus’ counsel) has made any
        representation or warranty to such Seller regarding the Seller’s ability to properly report the sale of the Warrants for U.S. tax purposes under the installment method of reporting (within the meaning of Section 453 of the Internal Revenue Code and
        Treasury Regulations promulgated thereunder), nor any other tax consequences to the Seller resulting from this Agreement, and each Seller has relied solely and exclusively on its own legal counsel (and not that of Cibus) regarding the same.

    

    

  

  ARTICLE 3

  

  

  REPRESENTATIONS AND WARRANTIES

  

  

  Section 3.1         

        Cibus’ Representations and Warranties.  Cibus represents and warrants to the Seller Representative and to each Seller that as of the date hereof:

  

  

  (a)         

        Existence; Good Standing.  Cibus is a corporation duly incorporated, validly existing and in good standing under the laws of the British Virgin Islands.  Each of the other Cibus Entities is an entity duly organized, validly existing
      and in good standing (to the extent the concept of good standing is recognized in the applicable jurisdiction) under the laws of the jurisdiction of its organization as set forth in the Intellectual Property Security Agreement.  Cibus and each of the
      other Cibus Entities is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned, leased or operated by
      it makes such licensing or qualification necessary (to the extent such concepts are recognized in such jurisdiction), except where the failure to be so licensed or qualified and in good standing has not and would not reasonably be expected to have,
      either individually or in the aggregate, a material adverse effect on Cibus, RTDSTM or the Warrant Purchase Consideration.

  

  

  (b)         

        Authorization.  Cibus has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and the other Transaction Documents.  Each of the Cibus Entities has all requisite corporate or
      other relevant business entity power and authority to execute, deliver and perform its obligations under the Intellectual Property Security Agreement.  The execution, delivery and performance of this Agreement and the other Transaction Documents, and
      the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all necessary corporate or other business entity action on the part of Cibus and each of the Cibus Entities, as applicable.

  

  

  (c)         

        Enforceability.  Each of the Transaction Documents has been duly executed and delivered by an authorized officer of Cibus (and, to the extent such Cibus Entity is a party to such Transaction Document, by an authorized officer of the
      applicable Cibus Entity) and constitutes the valid and binding obligation of Cibus or the Cibus Entity, enforceable against Cibus or such Cibus Entity in accordance with its terms, except as may be limited by applicable Bankruptcy Laws or by general
      principles of equity (whether considered in a proceeding in equity or at law).

  
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  (d)          No Conflicts.  The execution, delivery and performance by Cibus and each of
      the Cibus Entities of this Agreement and each of the Transaction Documents (to the extent such Cibus Entity is a party to such Transaction Document) and the consummation of the transactions contemplated hereby and thereby do not and will not (i)
      contravene or conflict with the Memorandum of Association or Articles of Association of Cibus or the organizational documents of any other Cibus Entity, (ii) contravene or conflict with or constitute a material default under any law binding upon or
      applicable to Cibus or such Cibus Entity or (iii) contravene or conflict with or constitute a material default under (A) any contract or agreement related to RTDS (including any and all intellectual property rights in and to RTDS) or (B) any other material contract or
      other material agreement or Judgment, in any case binding upon or applicable to Cibus or the applicable Cibus Entity.

  

  

  (e)          Consents.  Except for the consents that have been obtained on or prior to
      the Closing or filings required by the federal securities laws or stock exchange rules, no consent, approval, license, order, authorization, registration, declaration or filing with or of any Governmental Entity or other Person is required to be done
      or obtained by Cibus or any of the Cibus Entities in connection with (i) the execution and delivery by Cibus of this Agreement and by Cibus and each of the other Cibus Entities of the other Transaction Documents, (ii) the performance by Cibus of its
      obligations under this Agreement and the performance by Cibus and each of the other Cibus Entities of the other Transaction Documents (to the extent such Cibus Entity is a party to such Transaction Document) or (iii) the consummation by Cibus and the
      Cibus Entities of any of the transactions contemplated by this Agreement and the other Transaction Documents.

  

  

  (f)          No Litigation.  As of the Effective Date, neither Cibus nor any of the
      other Cibus Entities is a party to, and neither Cibus nor any of the other Cibus Entities has received written notice of, any action, suit, investigation or proceeding pending before any Governmental Entity and, to the Knowledge of Cibus, no such
      action, suit, investigation or proceeding has been threatened against Cibus or any Cibus Entity, that, individually or in the aggregate, would, if determined adversely, reasonably be expected to prevent or adversely affect (i) the ability of Cibus
      and each of the Cibus Entities to enter into and to perform its obligations under each of the Transaction Documents to which it is a party, (ii) Cibus’ rights in or to RTDS or (iii) from and after the first Closing, the Sellers’ rights with respect to the Warrant Purchase Consideration.

  

  

  (g)          Compliance with Laws.  Neither Cibus nor any of the other Cibus Entities is
      in violation of, and to the Knowledge of Cibus, neither Cibus nor any of the other Cibus Entities is under investigation with respect to, nor has Cibus or any other Cibus Entity been threatened to be charged with or given notice of any violation of,
      any law or Judgment applicable to Cibus or such Cibus Entity, which violation would reasonably be expected to adversely affect Cibus’ rights in or to RTDS or, after the first Closing, the Sellers’ rights with respect to the Warrant Purchase Consideration hereunder.

  
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  (h)          In-Licenses.

  

  

  (i)          Existing In-Licenses; No Other In-Licenses.  Except as set forth on Schedule 3.1(h)(i) of the Disclosure Schedule, there are no In-Licenses (any
      In-License set forth on Schedule 3.1(h)(i) of the Disclosure Schedule, an “Existing In-License”). 

      A true, correct and complete copy of each Existing In‐License has been provided to the Seller by Cibus prior to the date hereof and is attached as an exhibit to the Disclosure Schedule.  Except as set forth on Schedule 3.1(h)(i) of the Disclosure Schedule, Cibus (or its Affiliate(s)) and the respective counterparty thereto have not made or granted any amendment or waiver of any provision of any Existing
      In‐License.

  

  

  (ii)          Validity and Enforceability of the In-Licenses.  Each of the Existing In‐Licenses is a valid and binding obligation of Cibus (or its Affiliate(s)) and, to the Knowledge of Cibus, the counterparty thereto.  To the Knowledge of
      Cibus, each of the Existing In‐Licenses is enforceable against each counterparty thereto in accordance with its terms, except as may be limited by applicable Bankruptcy Laws or by general principles of equity (whether considered in a proceeding in
      equity or at law).  Neither Cibus nor any of its Affiliates that is a party to any Existing In-License has received any written notice in connection with an Existing In‐License challenging the validity, enforceability or interpretation of any
      provision of such agreement.

  

  

  (iii)          No Termination.  Neither Cibus nor any of its Affiliates has (A) given notice to a counterparty of the termination of any Existing In‐License (whether in whole or in part) or any notice expressing any intention or desire to
      terminate any Existing In‐License or (B) received from a counterparty thereto any written notice of termination of any Existing In‐License (whether in whole or in part) or any notice expressing any intention or desire to terminate any Existing
      In‐License.

  

  

  (iv)          No Breaches or Defaults.  To the Knowledge of Cibus, there is and has been no material breach or default under any provision of any Existing In‐License either by Cibus or by the respective counterparty (or any predecessor
      thereof) thereto, and, to the Knowledge of Cibus, there is no event that upon notice or the passage of time, or both, would reasonably be expected to give rise to any breach or default either by Cibus or its Affiliate(s) or by the respective
      counterparty to such agreement.

  

  

  (v)          Payments Made.  To the Knowledge of Cibus, Cibus (or its Affiliate(s)) has made all payments to the respective counterparty required under each Existing In‐License as of the date hereof.

  

  

  (vi)          No Assignments.  Neither Cibus nor any of its Affiliates has consented to any assignment by the counterparty thereto of any of such counterparty’s rights or obligations under any Existing In‐License and, to the Knowledge of
      Cibus, such counterparty has not assigned any of its rights or obligations under such Existing In‐License to any Person.

  

  

  (vii)          No Indemnification Claims.  Neither Cibus nor any of its Affiliates has notified the respective counterparty to any Existing In‐License or any other Person of any claims for indemnification under any Existing In‐License nor
      has Cibus or any of its Affiliates received any written claims for indemnification under any Existing In‐License.

  
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  (viii)          No Infringement.  Cibus has not received any written notice from, or given any written notice to, any counterparty to any Existing In‐License regarding any infringement of any of the RTDS Rights.

  

  

  
    (i)          Partner Agreements

    

    

    

    (i)          Cibus has provided the Seller Representative with true,
        correct and complete copies of the Hoechst Schering AgrEvo GmbH Agreement, Pioneer Hi-Bred International Agreements, Rotam Agreement, Flax Council Agreements, NEU Seed Agreements, BASF Agreement and the NPZ Agreement in effect as of the Effective
        Date (the “Partner Agreements”).  The Partner Agreements represent all material contracts of Cibus and its Affiliates pursuant to which Subject Revenues are generated, or
        are reasonably expected to be generated in the future, in existence as of the date hereof.

    

    

    (ii)          Validity and Enforceability of the Partner Agreements.  The Partner Agreements are valid and binding obligations of Cibus or its Affiliates, as applicable, and, to the Knowledge of Cibus, the counterparties thereto.  To the
        Knowledge of Cibus, the Partner Agreements are enforceable against each of the parties thereto in accordance with their respective terms, except as may be limited by applicable Bankruptcy Laws or by general principles of equity (whether considered
        in a proceeding in equity or at law).  Neither Cibus nor any of its Affiliates has received any written notice in connection with a Partner Agreement challenging the validity, enforceability or interpretation of any provision of such agreement.

    

    

    (iii)          No Breaches or Defaults.  To the Knowledge of Cibus, there is and has been no material breach or default under any provision of the Partner Agreements either by Cibus or any of its Affiliates or by the respective
        counterparty (or any predecessor thereof) thereto, and there is no event that upon notice or the passage of time, or both, would reasonably be expected to give rise to any breach or default either by Cibus or its applicable Affiliate(s) or by the
        respective counterparty to such agreement.

    

    

    (iv)          Payments Made.  To the Knowledge of Cibus, Cibus or its Affiliates have made all payments to the respective counterparty required under each Partner Agreement as of the date hereof.

    

    

    (v)          No Amendments or Waivers.  Neither Cibus nor any of its Affiliates or the respective counterparty thereto have made or granted any amendment or waiver of any provision of the Partner Agreements.

    

    

    (vi)          No Indemnification Claims.  Neither Cibus nor any of its Affiliates has notified the respective counterparty to each Partner Agreement or any other Person of any claims for indemnification under the Partner Agreements nor
        has Cibus or any of its Affiliates received any claims for indemnification under the Partner Agreements.

    
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  (j)          Intellectual Property.

  

  

  (i)          Schedule 3.1(j)(i) of the Disclosure Schedule lists all of the currently existing Patents included within the Patent Rights.  Except as set forth on Schedule
          3.1(j)(i), Cibus (or the applicable Cibus Entity) is the registered owner of all of the Patent Rights.  Schedule 3.1(j)(i) of the Disclosure Schedule
      specifies as to each listed patent or patent application (A) the jurisdictions by or in which each such Patent Right has issued as a patent or a patent application has been filed, including the respective patent or application numbers, and (B) any
      other Person owning or having an interest in such Patent Right, including the nature of such interest.  Cibus and the Cibus Entities collectively own, or have exclusive licenses to, all Patents that are material to RTDS.

  

  

  (ii)          Except as set forth on Schedule 3.1(j)(ii) of the Disclosure Schedule, Cibus has not received written notice of, and is not a party to, any
      pending, and to the Knowledge of Cibus there are no threatened, litigations, interferences, reexaminations, oppositions or like procedures involving any of the Patent Rights.

  

  

  (iii)          To the Knowledge of Cibus, all of the issued patents
      within the Patent Rights are in full force and effect and have not lapsed, expired or otherwise terminated.  Cibus has not received any written notice relating to the lapse, expiration or other termination of any of the issued patents within the
      Patent Rights, or alleging that, and Cibus has not received any written legal opinion that alleges that, an issued patent within any of the Patent Rights is invalid or unenforceable.

  

  

  (iv)          Cibus has not received any written notice that there is
      any, and, to the Knowledge of Cibus, there is no, Person who is or claims to be an inventor under any of the Patent Rights who is not a named inventor thereof.

  

  

  (v)          Neither Cibus nor any of its Affiliates has received and,
      to the Knowledge of Cibus, no counterparty to an Existing In-License has received any written notice of any claim by any Person challenging inventorship or ownership of, the rights of Cibus or its Affiliate(s) in and to, or the patentability,
      validity or enforceability of, any of the Patent Rights, or asserting that the use or exploitation of RTDS infringes or will infringe such
      Person’s patents or other intellectual property rights.

  

  

  (vi)          To the Knowledge of Cibus, the use or exploitation of RTDS has not and will not, infringe, violate or misuse any patent or other intellectual property rights owned by any Third Party that is not
      licensed to Cibus under an Existing In‐License Agreement.

  

  

  (vii)          To the Knowledge of Cibus, no Person has infringed or
      otherwise violated, or is infringing or otherwise violating, any of the RTDS Rights.

  

  

  (viii)          To the Knowledge of Cibus, Cibus, its Affiliate(s) or
      the counterparty to each In-License has paid all maintenance fees, annuities and like payments required as of the date hereof with respect to any of the Patent Rights.

  

  

  
    (k)          Code Representation and Warranties.  Cibus’ exact legal name is “Cibus Global, Ltd.”  Cibus is organized as a limited liability company in the British Virgin Islands.  Prior to September 11, 2008, Cibus’ legal name was
        Cibus, LLC and was organized in the State of Delaware.  Each of the other Cibus Entities’ exact legal names and jurisdictions of organization are set forth on Schedule A to the Intellectual Property Security Agreement.

    
      10

      
        

    

  

  (l)          Brokers’ Fees.  There is no investment banker, broker, finder, financial advisor or other intermediary who has been retained by or is authorized to act on behalf of Cibus who might be entitled to any fee or commission in
      connection with the transactions contemplated by this Agreement.

  

  

  Section 3.2          Sellers’ Representations and Warranties.  Each Seller represents
      and warrants to Cibus, severally and not jointly, that as of the date of the Closing on which such Seller first becomes a party to this Agreement:

  

  

  (a)          Authorization.  The Seller has the requisite right, power and authority to execute, deliver and perform the Seller’s obligations under this Agreement.  The execution, delivery and performance of this Agreement, and the
      consummation of the transactions contemplated hereby, have been duly authorized by all necessary action on the part of the Seller.

  

  

  (b)          Enforceability.  This Agreement (including the Seller’s Joinder Agreement hereto) has been duly executed and delivered by the Seller and constitutes the valid and binding obligation of the Seller, enforceable against the
      Seller in accordance with its terms, except as may be limited by applicable Bankruptcy Laws or by general principles of equity (whether considered in a proceeding in equity or at law).

  

  

  (c)          No Conflicts.  The execution, delivery and performance by the Seller of this Agreement (including the Seller’s Joinder Agreement hereto) do not and will not (i) contravene or conflict with the organizational documents of the
      Seller, if the Seller is a business entity, (ii) contravene or conflict with or constitute a default under any material provision of any law binding upon or applicable to the Seller or (iii) contravene or conflict with or constitute a default under
      any material contract or other material agreement or Judgment binding upon or applicable to the Seller.

  

  

  (d)          Consents.  No consent, approval, license, order, authorization, registration, declaration or filing with or of any Governmental Entity or other Person is required to be completed or obtained by the Seller in connection with
      (i) the execution and delivery by the Seller of this Agreement (including the Seller’s Joinder Agreement hereto), (ii) the performance by the Seller of its obligations under this Agreement, other than the filing of financing statement(s) by the
      Seller Representative in accordance with Section 1.5 or (iii) the consummation by the Seller of any of the transactions contemplated by this Agreement.

  

  

  (e)          No Litigation.  There is no action, suit, investigation or proceeding pending or, to the knowledge of the Seller, threatened before any Governmental Entity to which the Seller is a party that would, if determined adversely,
      reasonably be expected to prevent or materially and adversely affect the ability of the Seller to perform its obligations under this Agreement.

  

  

  (f)          Brokers’ Fees.  There is no investment banker, broker, finder, financial advisor or other intermediary who has been retained by or is authorized to act on behalf of the Seller who might be entitled to any fee or commission in
      connection with the transactions contemplated by this Agreement.

  
    11

    
      

  

  ARTICLE 4

  

  

  CONDITIONS TO CLOSING

  

  

  Section 4.1          Conditions to the Sellers’ Obligations.  The obligations of the
      Sellers to consummate the transactions contemplated hereunder on each Closing Date are subject to the satisfaction or waiver, at or prior to such Closing Date, of each of the following conditions precedent, other than Section 4.1(d), which shall only
      be required to be satisfied as of the initial Closing Date:

  

  

  
    (a)          The Intellectual Property Security Agreement shall be in
        full force and effect.

    

    

    (b)          On the Effective Date, Cibus shall have delivered to the
        Seller Representative standard corporate existence and authority opinions in respect of Cibus in a form previously agreed upon by Cibus and the Seller Representative.

    

    

  

  (c)          Cibus shall have performed and complied in all material
      respects with all agreements, covenants, obligations and conditions required to be performed and complied with by it under this Agreement at or prior to the applicable Closing Date, and the Seller Representative shall have received a certificate
      executed by a duly authorized officer of Cibus on the Closing Date certifying on behalf of Cibus to the effect of the foregoing.

  

  

  (d)          The representations and warranties of Cibus contained in
      Section 3.1 shall be true and correct in all material respects as of the Effective Date and the initial Closing Date as though made at and as of the Effective Date or the initial Closing Date, as the case may be, except to the extent any such
      representation or warranty expressly speaks as of a particular date, in which case it shall be true and correct in all material respects as of such date; provided, that to the extent that any such representation or warranty is qualified by the term
      “material,” such representation or warranty (as so written, including the term “material”) shall be true and correct in all respects as of the Effective Date, the initial Closing Date or such other date, as applicable, and the Seller Representative
      shall have received a certificate executed by a duly authorized officer of Cibus, if requested by the Seller Representative, on the initial Closing Date, certifying on behalf of Cibus to the effect of the foregoing.

  

  

  
    (e)          No event or events shall have occurred, or be reasonably likely to occur, that, individually or in the aggregate, have had or would reasonably be expected to result in (or, with the
          giving of notice, the passage of time or otherwise, would result in) a material adverse effect on the business, operations or financial condition of Cibus, including upon RTDS or the Sellers’ right to the Warrant Purchase Consideration.  On the Effective Date and, if requested by the Seller Representative, on the applicable Closing Date, the Seller Representative
        shall have received a certificate executed by a duly authorized officer of Cibus on the Effective Date or the Closing Date certifying on behalf of Cibus to the effect of the foregoing.

    

    

  

  (f)          There shall not have been issued and be in effect any
      Judgment of any Governmental Entity enjoining, preventing or restricting the consummation of the transactions contemplated by this Agreement.

  
    12

    
      

  

  (g)          There shall not have been instituted or be pending any
      action or proceeding by any Governmental Entity or any other Person (i) challenging or seeking to make illegal, to delay materially or otherwise directly or indirectly to restrain or prohibit the consummation of the transactions contemplated hereby,
      (ii) seeking to obtain material damages in connection with the transactions contemplated hereby or (iii) seeking to restrain or prohibit the delivery to the Sellers of any portion of the Warrant Purchase Consideration.

  

  

  (h)          The Seller Representative shall have received on the
      Effective Date a certificate of a duly authorized officer of Cibus, certifying as to (i) the incumbency of each officer of Cibus executing this Agreement and (ii) the attached copies of Cibus’ Memorandum of Association and Articles of Association and
      resolutions adopted by Cibus’ board of directors authorizing the execution and delivery by Cibus of this Agreement and the consummation by Cibus of the transactions contemplated hereby.

  

  

  (i)          The Seller Representative shall have received a
      certificate of a duly authorized officer of Cibus, dated as of the applicable Closing Date, certifying as to the Participation Rate, as calculated taking into account all Subject Warrants transferred and sold to Cibus as of such Closing Date,
      including the Subject Warrants to be transferred and sold at such Closing.

  

  

  Section 4.2          Conditions to Cibus’ Obligations.  The obligations of Cibus to
      consummate the transactions contemplated hereunder on each Closing Date are subject to the satisfaction or waiver, at or prior to such Closing Date, of each of the following conditions precedent:

  

  

  (a)          Each applicable Seller shall have performed and complied
      in all material respects with all agreements, covenants, obligations and conditions required to be performed and complied with by it under this Agreement at or prior to the Closing Date, and if requested by Cibus, Cibus shall have received a
      certificate executed by the Seller Representative certifying on behalf of the applicable Seller(s) to the effect of the foregoing.

  

  

  (b)          The representations and warranties of the applicable
      Sellers contained in Section 3.2 shall be true and correct in all material respects as of each Closing Date as though made at and as of such Closing Date, except to the extent any such representation or warranty expressly speaks as of a particular
      date, in which case it shall be true and correct in all material respects as of such date; provided, that to the extent that any such representation or warranty is qualified by the term “material,” such representation or warranty (as so written,
      including the term “material”) shall be true and correct in all respects as of the applicable Closing Date or such other date, as applicable, and Cibus shall have received a certificate executed by the Seller Representative if requested by Cibus, on
      the Closing Date, certifying on behalf of the applicable Sellers to the effect of the foregoing.

  

  

  (c)          There shall not have been issued and be in effect any
      Judgment of any Governmental Entity enjoining, preventing or restricting the consummation of the transactions contemplated by this Agreement.

  
    13

    
      

  

  (d)          There shall not have been instituted or be pending any
      action or proceeding by any Governmental Entity or any other Person (i) challenging or seeking to make illegal, to delay materially or otherwise directly or indirectly to restrain or prohibit the consummation of the transactions contemplated hereby,
      (ii) seeking to obtain material damages in connection with the transactions contemplated hereby or (iii) seeking to restrain or prohibit Cibus’ payment of any portion of the Warrant Purchase Consideration to the Sellers.

  

  

  (e)          If requested by Cibus, Cibus shall have received on the
      applicable Closing Date a certificate of the Secretary or an Assistant Secretary of the Seller, if the Seller is a business entity, certifying as to the incumbency of the officers executing this Agreement (including any Joinder Agreement hereto) on
      behalf of the Seller.

  

  

  (f)          Cibus shall have received a valid, properly executed
      Internal Revenue Service Form W-9 from each applicable Seller certifying that such Seller is exempt from U.S. federal withholding Tax under applicable law.

  

  

  (g)          Cibus shall have received the following with respect to
      each of the Subject Warrants to be purchased by Cibus in connection with such Closing:

  

  

  
    (i)          The original Subject Warrant
        to be purchased by Cibus in connection with such Closing; and

    

    

    (ii)          A copy of each Joinder
        Agreement, duly executed by the applicable Investors, including a release, executed by each applicable Seller in favor of Cibus, of any and all claims arising out of or relating to each such Subject Warrant other than those expressly arising out of
        or related to this Agreement.

    

    

  

  
    (h)           (i) Prior to the Minority Protection Outside Date, the
        aggregate Participation Rate attributable to (A) the Warrants being purchased by Cibus in such Closing, plus (B) the Warrants purchased in all prior Closings, shall not exceed the Major Investor Cap or the Minority Investor Cap, as applicable, and
        (ii) subsequent to the Minority Protection Outside Date, the aggregate Participation Rate attributable to (y) the Warrants being purchased by Cibus in such Closing, plus (z) the Warrants purchased in all prior Closings, shall not exceed 10%.

    

    

  

  ARTICLE 5

  

  

  COVENANTS

  

  

  Section 5.1          Reporting.  Promptly following the end of each calendar year, Cibus
      shall provide the Seller Representative with a reasonably detailed report (the “Annual Report”) setting forth, with respect to such calendar year, (i) the Commercial Updates
      and (ii) the Intellectual Property Updates.  In connection therewith, Cibus shall also provide the Seller Representative with such additional information regarding the updates included in each Annual Report as the Seller Representative may reasonably
      request from time to time.  Cibus shall prepare and maintain and shall cause its Affiliates and any counterparty to any Out‐License of Cibus or Cibus’ Affiliates to prepare and maintain reasonably complete and accurate records of the information to
      be disclosed in each Annual Report.

  
    14

    
      

  

  Section 5.2          Intentionally Deleted.

  

  

  
    Section 5.3          Payments Received In Error.

    

    

    (a)          If the Sellers become entitled to any payment from any
        other Person, including any Permitted Licensee, pursuant to the terms of this Agreement and such payment is nevertheless made to Cibus or any of its Affiliates, Cibus shall pay over or cause to be paid over to the Sellers, promptly (and in any
        event within five Business Days) after the receipt thereof, the amount of such payment received by wire transfer to an account or account(s) designated in writing by the Seller Representative on behalf of the Sellers, and Cibus shall be entitled to
        rely solely on the written instructions provided by Seller Representative in this regard.  In such event, Cibus shall, or shall cause its Affiliate to, (i) until paid to the Sellers, hold such payment received in trust for the benefit of the
        Sellers and (ii) have no right, title or interest in such payment and shall not pledge or otherwise grant any security interest therein.

    

    

    (b)          If Cibus or any of its Affiliates becomes entitled to
        any payment from any other Person, including any Permitted Licensee, and such payment is nevertheless made to any Seller, such Seller shall pay over to Cibus or such Affiliate as may be designated in writing by Cibus, promptly (and in any event
        within five Business Days) after the receipt thereof, the amount of such payment received by wire transfer to an account designated in writing by Cibus.  In such event, the Seller shall (i) until paid to Cibus or its Affiliate(s), hold such payment
        received in trust for the benefit of Cibus or its Affiliate(s) and (ii) have no right, title or interest in such payment and shall not pledge or otherwise grant any security interest therein.

    

    

  

  Section 5.4          Warrant Purchase Payments; Warrant Consideration and Other Reports.

  

  

  
    (a)          Cibus shall pay to the Sellers the Warrant Purchase
        Payments for each calendar quarter promptly, but in any event no later than forty-five (45) calendar days after the end of each such calendar quarter.  Notwithstanding anything to the contrary herein, Cibus shall not be obligated to pay any portion
        of the Warrant Purchase Payments to the Sellers until the first quarter in which the aggregate of the Warrant Purchase Payments that would otherwise be due to the Sellers during any consecutive twelve (12)-month period equals or exceeds five
        million dollars (USD$5,000,000), whereupon Cibus shall pay to the Sellers the full amount of such aggregated Warrant Purchase Payments no later than forty-five (45) calendar days after the end of such calendar quarter.

    

    

  

  (b)          Cibus shall make all payments required to be made by it to
      the Sellers pursuant to this Agreement in U.S. dollars by check or wire transfer of immediately available funds, without set-off, reduction or deduction, or withholding for or on account of any Taxes (provided that each applicable Seller has provided
      to Cibus the appropriate form referenced in Section 4.2(f) hereof), to the bank account designated in writing from time to time by the Seller Representative on behalf of the Sellers, and Cibus shall be entitled to rely solely on the written
      instructions of the Seller Representative in this regard.

  
    15

    
      

  

  
    (c)          If Cibus fails, or expects to fail, to satisfy any of
        its payment obligations owed to the Sellers pursuant to this Agreement when such obligations are due, Cibus shall send a notice to the Seller Representative (a “Late Payment Notice”)

        disclosing such failure or expected failure.  If Cibus sends a Late Payment Notice to the Seller Representative, Cibus’ failure to satisfy any of its payment obligations during a calendar year will not be considered a breach of this Agreement or
        the other Transaction Documents, and each of the Sellers and the Seller Representative, on behalf of the Sellers, hereby agree not to exercise any remedies under this Agreement or the other Transaction Documents until Cibus has been delinquent in
        its payment obligations for an aggregate of ninety (90) calendar days in such calendar year, which ninety (90) day period shall not include any days during which Cibus and the Seller Representative are in good faith disputing amounts owing by Cibus
        to the Sellers.  Notwithstanding the foregoing, a late fee of 4% over the Prime Rate will accrue on all unpaid amounts from the date such obligations were due (e.g., forty-five (45) days after the end of the applicable calendar quarter).  The
        imposition and payment of a late fee shall not constitute a waiver of any of the Sellers’ rights with respect to such payment default.

    

    

  

  (d)          Prior to or simultaneously with each payment of the
      Warrant Purchase Payments, Cibus shall deliver a written report to the Seller Representative setting forth in reasonable detail, the calculation of the aggregate amount of the Warrant Purchase Payments payable to the Sellers for such calendar quarter
      identifying the Subject Revenues generated by Cibus and its Affiliates to determine the aggregate amount of the Warrant Purchase Payments due to the Sellers (the “Warrant Consideration
          Report”).  The Warrant Consideration Report shall be in substantially the form attached to this Agreement as Exhibit C.

  

  

  
    Section 5.5          Inspections and Audits of Cibus.  Following the first Closing, upon reasonable prior written notice and during normal business hours, no more frequently than once per calendar year, the Seller Representative may cause an inspection and/or audit
          by an independent public accounting firm reasonably acceptable to Cibus to be made of Cibus’ books of account for the three (3) calendar years prior to the audit for the purpose of determining the correctness of Warrant Purchase Payments made
          under this Agreement.  All of the expenses of any inspection or audit requested by the Seller Representative hereunder (including the fees and expenses of such independent public accounting firm designated for such purpose) shall be borne by (i)
          the Sellers, if the independent public accounting firm determines that the aggregate amount of the Warrant Purchase Payments previously paid were incorrect by an amount less than or equal to five percent (5%) of the aggregate Warrant Purchase
          Payments actually due and payable or (ii) Cibus, if the independent public accounting firm determines that Warrant Purchase Payments previously paid were incorrect by an amount greater than five percent (5%) of the Warrant Purchase Payments
          actually due and payable.  Any such accounting firm shall not disclose the confidential information of Cibus to the Seller Representative or any Seller, except to the extent such disclosure is either necessary to determine the correctness of
          Warrant Purchase Payments or otherwise would be included in an Annual Report or Warrant Consideration Report.  All information obtained by the Seller Representative or any Seller as a result of any such inspection or audit shall be Confidential
          Information subject to ARTICLE 7.

    

    

  

  
    Section 5.6          Prosecution and Maintenance of Patents.  Cibus shall use, and shall cause each of the Cibus Entities to use, commercially reasonable efforts, consistent with past practice, to prosecute and maintain at its own
        expense, or cause its (sub)licensees to prosecute and maintain, the Patents listed on Schedule 3.1(j)(i) so that they do not lapse or expire due to acts or omissions of
        Cibus or any of Cibus’ (sub)licensees until the applicable expiration dates specified in Schedule 3.1(j)(i); provided, however, that the foregoing shall not apply to any
        such Patent if the failure to prosecute and maintain such Patent could not reasonably be expected to adversely affect Cibus’ right or ability to receive Subject Revenues or the Sellers’ rights with respect to any portion of the Warrant Purchase
        Consideration hereunder.  It is understood that such past practice includes the filing of provisional applications as a memorialization and recordation of Cibus’ trade secrets only, including those covering RTDS Rights, for which there is no intent
        to file any further application based on such provisional applications (e.g., as a United States utility application or an international application).  Cibus shall not be required to maintain such provisionals and shall have the right to prosecute,
        maintain or allow such provisionals to lapse at its sole discretion.

    
      16

      
        

    

  

  Section 5.7          Enforcement of Intellectual Property Rights.

  

  

  
    (a)          Cibus shall promptly inform the Seller Representative of
        any suspected infringement by a Third Party of any Patent Right.

    

    

    (b)          Prior to initiating, or permitting the initiation of, an
        enforcement action regarding any suspected infringement by a Third Party of any Patent Right, Cibus shall provide the Seller Representative with written notice of such enforcement action.

    

    

    (c)          If Cibus recovers monetary damages from a Third Party in
        an action brought for such Third Party’s infringement of any of the Patent Rights, where such damages, whether in the form of judgment or settlement, result from such infringement of such Patent Rights, such recovery will be allocated first to the
        reimbursement of any expenses incurred by Cibus or a Permitted Licensee in such litigation, and any remaining amounts will be treated as part of the Subject Revenues.  All costs and expenses (including attorneys’ fees and expenses) incurred by a
        party hereto in connection with any enforcement action shall be borne by such party.

    

    

    Section 5.8          Commercially Reasonable Efforts.  Subject to the terms and conditions of this Agreement, the Transaction Documents and applicable laws, Cibus will strive to protect, preserve and maintain all properties and
        assets of Cibus and its Affiliates that are material to, or are reasonably expected to be material to, the generation of Subject Revenues in accordance with customary industry practices.

  

  

  

  Section 5.9
                 Efforts to Consummate Transactions.  Subject to the terms and conditions of this Agreement, each of Cibus, the Seller Representative and the Sellers will use its commercially reasonable efforts to take, or cause to be taken,
      all actions and to do, or cause to be done, all things reasonably necessary under applicable law to consummate the transactions contemplated by this Agreement.  Each of the Sellers, the Seller Representative and Cibus agrees to execute and deliver
      such other documents, certificates, agreements and other writings and to take such other actions as may be reasonably necessary in order to consummate or implement expeditiously the transactions contemplated by this Agreement.

  
    

    

  

  Section 5.10       

        Further Assurances.  From and after the Effective Date, Cibus, the Sellers and the Seller Representative agree to execute and deliver such other documents, certificates, agreements and other writings and to take such other actions as
      may be reasonably necessary in order to give effect to the transactions contemplated by this Agreement (and, in the case of the Seller Representative, to cause each Seller to execute and deliver such other documents, certificates, agreements and
      other writings and to take such other actions as may be reasonably necessary in order to give effect to the transactions contemplated by this Agreement).

  
    17

    
      

  

  Section 5.11
               In-Licenses.

  

  

  
    (a)          Cibus shall provide the Seller Representative with
        copies of all written notices or correspondence to any counterparty to an In-License relating to, or involving, RTDS or the RTDS Rights and that could reasonably be expected to adversely affect the Warrant Purchase Consideration in any material respect promptly, and
        in any event within five (5) Business Days following Cibus’ (or its Affiliate’s) delivery of such notice or correspondence.  Promptly, and in any event within five (5) Business Days, following the receipt by Cibus or any of its Affiliates of any
        report, notice or correspondence under any In-License that could reasonably be expected to adversely affect the Warrant Purchase Consideration in any material respect, Cibus shall furnish a copy of such notice or correspondence to the Seller
        Representative.

    

    

    (b)          Promptly, and in any event within five (5) Business
        Days, following receipt by Cibus of a fully executed amendment, supplement, modification or waiver (a “Modification”) to any In-License, Cibus shall furnish a copy of such
        Modification to the Seller Representative.

    

    

    (c)          Cibus shall use, and shall cause its applicable
        Affiliates to use, commercially reasonable efforts to comply in all material respects with its obligations under each In-License to which it is a party and shall use commercially reasonable efforts not to take any action or forego any action that
        would reasonably be expected to constitute a material breach thereof.  Promptly, and in any event within five (5) Business Days, after receipt of any (written or oral) notice from any counterparty to an In-License of an alleged breach by Cibus or
        its Affiliate(s) under such In-License, Cibus shall give notice thereof to the Seller Representative, including delivering to the Seller Representative a copy of any such written notice.  Unless otherwise agreed to with the Seller Representative in
        writing, Cibus shall use, and shall cause its applicable Affiliates to use, commercially reasonable efforts to cure any breaches by it under any such In-License and shall give written notice to the Seller Representative upon curing any such breach.

    

    

    (d)          Cibus shall provide to the Seller Representative a copy
        of any written notice of breach or alleged breach of any In-License delivered by Cibus to any counterparty thereto as soon as practicable and in any event not less than five (5) Business Days following such delivery.

    

    

  

  Section 5.12          Out-Licenses.

  

  

  (a)          Subject to compliance with this Section 5.12 and Section
      5.15 below, Cibus may license or cause its Affiliates to license (but not assign or otherwise transfer title to, except pursuant to Section 10.6) all or a portion of the RTDS Rights to a Third Party (a “Permitted Licensee”) to develop, manufacture, promote, market, use, sell, offer for sale, import or
      distribute products arising out of the RTDS Rights in all or any portion of the Territory without the Seller Representative’s prior written
      consent (any such license, a “Permitted License”).

  
    18

    
      

  

  (b)          Cibus shall provide to the Seller Representative executed
      copies of any Permitted License or any proposed Modification thereof not later than five (5) Business Days following the execution thereof.

  
    

    

  

  
    Section 5.13          Partner Agreements.

    

    

    (a)          Cibus shall use, and shall cause its applicable
        Affiliates to use, commercially reasonable efforts to comply in all material respects with its obligations under the Partner Agreements and shall use, and shall cause its applicable Affiliates to use, commercially reasonable efforts not to take any
        action or forego any action that would reasonably be expected to constitute a material breach thereof.  Promptly, and in any event within five (5) Business Days, after receipt of any (written or oral) notice from each of the parties thereto or
        their Affiliates of an alleged breach by Cibus or any of its Affiliates under a Partner Agreement, Cibus shall give notice thereof to the Seller Representative, including delivering to the Seller Representative a copy of any such written notice. 
        Unless otherwise agreed to with the Seller Representative in writing, Cibus shall use, and shall cause its applicable Affiliates to use, commercially reasonable efforts to cure any breaches by it under the Partner Agreement and shall give written
        notice to the Seller Representative upon curing any such breach.

    

    

    (b)          Promptly (and in any event within five (5) Business
        Days) after Cibus becomes aware of, or comes to believe in good faith that there has been, a breach of either of the Partner Agreements by the counterparty thereto, Cibus shall provide notice of such breach to the Seller Representative.  In
        addition, Cibus shall provide to the Seller Representative a copy of any written notice of breach or alleged breach of the Partner Agreement delivered by Cibus to the counterparty thereto as soon as practicable and in any event not less than five
        Business Days following such delivery.

    

    

    (c)          Promptly, and in any event within five (5) Business
        Days, following receipt by Cibus of a fully executed Modification to any Partner Agreement, Cibus shall furnish a copy of such Modification to the Seller Representative.

    

    

    Section 5.14          Security Interest.

    

    

  

  
    (a)          Except as set forth in the Intellectual Property
        Security Agreement, Cibus shall not, and shall cause each of the Cibus Entities not to, create, incur, assume or permit to exist any Lien on any of the Collateral, except for (i) the security interest granted to the Sellers under this Agreement and
        the Intellectual Property Security Agreement, (ii) Permitted Licenses to Permitted Licensees, (iii) Permitted Liens, and (iv) security interests which are subordinated to the security interests granted by this Agreement and the Intellectual
        Property Security Agreement.

    

    

    (b)          Cibus shall not, and shall cause each of the Cibus
        Entities not to, without at least ten (10) days’ prior written notice to the Seller Representative: (i) liquidate, wind up or dissolve, (ii) change its jurisdiction of organization, (iii) change its organizational structure or type, (iv) change its
        legal name or (v) change any organizational number (if any) assigned by its jurisdiction of organization.

    
      19

      
        

    

  

  
    Section 5.15          Partial Asset Transfer.  Cibus shall not, and shall cause each of the Cibus Entities not to, enter into or consummate any Partial Asset Transfer unless the acquirer of the assets in such transaction agrees to
        enter into such agreements with the Seller Representative and the Sellers that are mutually acceptable to the Seller Representative and such acquirer that secure for the Sellers’ benefit rights substantially equivalent to those of the Sellers
        hereunder, including without limitation the obligation to deliver or cause to be delivered to the Sellers the Warrant Purchase Payments as and when they would otherwise become due hereunder, and the grant of a security interest in the applicable
        Collateral, in each case to the extent attributable to the rights and assets sold, transferred or licensed in the Partial Asset Transfer.

    

    

  

  ARTICLE 6

  

  

  INDEMNIFICATION

  

  

  Section 6.1
                  General Indemnity.  From and after the Effective Date:

  

  

  (a)          Cibus hereby agrees to indemnify, defend and hold harmless
      the Seller Representative, each of the Sellers and its and their Affiliates and its and their directors, managers, trustees, officers, agents and employees (the “Seller Indemnified
          Parties”) from, against and in respect of all Losses suffered or incurred by the Seller Indemnified Parties resulting from any claim by any Person other than any of the Seller Indemnified Parties to the extent arising out of or
      resulting from (i) any breach of any of the representations or warranties (in each case, when made) of Cibus in this Agreement and (ii) any breach of any of the covenants or agreements of Cibus in this Agreement; and

  

  

  (b)          the Seller Representative and each of the Sellers,
      severally and not jointly, hereby agree to indemnify, defend and hold harmless Cibus and its Affiliates and its and their directors, officers, agents and employees (the “Cibus
          Indemnified Parties”) from, against and in respect of all Losses suffered or incurred by the Cibus Indemnified Parties resulting from any claim by any Person other than any of the Cibus Indemnified Parties to the extent arising out of
      or resulting from (i) any breach of any of the representations or warranties (in each case, when made) of such Seller in this Agreement, (ii) any breach of any of the covenants or agreements of the Seller Representative or such Seller in this
      Agreement or (iii) any claims from any Sellers relating to or arising out of any act or omission by the Seller Representative acting in its capacity as such pursuant to this Agreement or in its capacity as Collateral Agent under the Intellectual
      Property Security Agreement.

  

  

  Section 6.2           Limitations on Liability.  No party hereto shall be liable for any
      consequential, punitive, special or incidental damages under this ARTICLE 6 (and no claim for indemnification hereunder shall be asserted) as a result of any breach or violation of any covenant or agreement of such party (including under this ARTICLE
      6) in or pursuant to this Agreement.

  
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  ARTICLE 7

  

  

  CONFIDENTIALITY

  

  

  Section 7.1           Confidentiality.  Except to the extent expressly authorized by
      this Agreement or otherwise agreed in writing by the parties, the parties hereto agree that, for the term of this Agreement and for five (5) years thereafter, each party (the “Disclosing
          Party”) shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other than as provided for in this Agreement (which includes the exercise of any rights or the performance of any obligations
      hereunder) any information furnished to it by or on behalf of the other party (the “Non-disclosing Party”) pursuant to this Agreement (such information, “Confidential Information” of the Non-disclosing Party), except for that portion of such information that:

  

  

  
    (a)          was already known to the Disclosing Party, other than
        under an obligation of confidentiality, at the time of disclosure by the Non-disclosing Party;

    

    

    (b)          was generally available to the public or otherwise part
        of the public domain at the time of its disclosure to the Disclosing Party;

    

    

    (c)          became generally available to the public or otherwise
        part of the public domain after its disclosure and other than through any act or omission of the Disclosing Party in breach of this Agreement;

    

    

    (d)          is independently developed by the Disclosing Party or
        any of its Affiliates without the use of the Confidential Information; or

    

    

  

  (e)          is subsequently disclosed to the Disclosing Party on a
      non-confidential basis by a Third Party without obligations of confidentiality with respect thereto.

  

  

  Section 7.2           Authorized Disclosure.  A party may disclose Confidential
      Information to the extent such disclosure is reasonably necessary in the following situations:

  

  

  
    (a)          prosecuting or defending litigation;

    

    

    (b)          complying with applicable laws and regulations,
        including regulations promulgated by securities exchanges;

    

    

    (c)          complying with a valid order of a court of competent
        jurisdiction or other Governmental Entity;

    

    

    (d)          for regulatory, Tax or customs purposes;

    

    

    (e)          for audit purposes;

    

    

    (f)          disclosure to its Affiliates, directors, managers,
        trustees, officers, employees and agents only on a need-to-know basis and solely in connection with the performance of this Agreement or oversight of the transactions contemplated hereby, provided that each disclosee must be bound by customary
        obligations of confidentiality and non-use prior to any such disclosure;

    
      21

      
        

    

    (g)          upon the prior written consent of the Non-disclosing
        Party; or

    

    

    (h)          disclosure to its investors and other sources of
        funding, including debt financing, and their respective accountants, financial advisors and other professional representatives, provided, that such disclosure shall be made only to the extent customarily required to consummate such investment or
        financing transaction and that each disclosee must be bound by customary obligations of confidentiality and non-use prior to any such disclosure.

    

    

  

  Notwithstanding the foregoing, in the event the Disclosing Party is required to make a disclosure of the Non-disclosing Party’s Confidential Information
      pursuant to Sections 7.2(a), (b), (c) or (d), it will, except where impracticable, give reasonable advance notice to the Non-disclosing Party of such disclosure and use reasonable efforts to secure confidential treatment of such information.  The
      covenants set forth in this Article 7 are in addition to, and not in lieu of, existing confidentiality obligations between Cibus and the Seller and/or its members and managers.

  

  

  ARTICLE 8

  

  

  TERMINATION

  

  

  Section 8.1           Mutual Termination.  This Agreement may be terminated by mutual
      written agreement of the Seller Representative and Cibus.

  

  

  Section 8.2           Automatic Termination; Option to Renew.  Unless earlier terminated
      as provided in Section 8.1, this Agreement shall continue in full force and effect from the Effective Date through the date thirty (30) years after the date on which the first Warrant Purchase Payment becomes due and payable hereunder (the “Initial Term”), at which point this Agreement shall automatically terminate, except with respect to any rights that shall have accrued prior to such termination; provided, that
      the Sellers shall have the option, exercisable on their behalf by the Seller Representative, to renew this Agreement for an additional thirty (30) year term after the expiration of the Initial Term, upon the Seller Representative’s delivery of
      written notice to Cibus of such election to exercise such option at least thirty (30) days before the expiration of the Initial Term and payment to Cibus of an amount equal to one hundred dollars (USD$100).

  

  

  Section 8.3           Survival.  Notwithstanding anything to the contrary in this
      ARTICLE 8, the following provisions shall survive termination of this Agreement: ARTICLE 7 (Confidentiality), Section 9.3 (Indemnification of Seller Representative) and ARTICLE 10 (Miscellaneous).  Termination of the Agreement shall not relieve any
      party of liability in respect of breaches under this Agreement by any party on or prior to termination.

  
    22

    
      

  

  ARTICLE 9

  

  

  THE SELLER REPRESENTATIVE

  

  

  
    Section 9.1          Appointment.  Cibus and the Sellers hereby agree to the appointment of the Seller Representative as agent and attorney-in-fact for and on behalf of the Sellers.  The Seller Representative shall have full power
        and authority to represent all of the Sellers and their successors with respect to all matters arising under this Agreement and the Intellectual Property Security Agreement, and all actions taken by the Seller Representative hereunder and
        thereunder shall be binding upon all such Sellers as if expressly confirmed and ratified in writing by each of them, and no Sellers shall have the right to object, dissent, protest or otherwise contest the same.  The Seller Representative shall
        take any and all actions that it believes are necessary or appropriate under this Agreement and the Intellectual Property Security Agreement for and on behalf of the Sellers as if the Sellers were acting on their own behalf, including executing the
        Intellectual Property Security Agreement as the secured party thereunder, giving and receiving any notice or instruction permitted or required under this Agreement or the Intellectual Property Security Agreement by the Seller Representative or any
        Sellers, interpreting and enforcing all of the terms and provisions of this Agreement and the Intellectual Property Security Agreement, authorizing payments to be made with respect hereto or thereto, defending all indemnity claims against the
        Sellers pursuant to Section 6.1 of this Agreement (an “Indemnity Claim”), consenting to, compromising or settling all Indemnity Claims, conducting negotiations with Cibus
        and its agents regarding such claims, dealing with Cibus and the Cibus Entities under this Agreement and the Intellectual Property Security Agreement with respect to all matters arising under this Agreement and the Intellectual Property Security
        Agreement, taking any and all other actions specified in or contemplated by this Agreement to be taken by the Sellers and engaging counsel, accountants or other agents in connection with the foregoing matters.  Without limiting the generality of
        the foregoing, the Seller Representative shall have full power and authority to interpret all the terms and provisions of this Agreement and the Intellectual Property Security Agreement and to consent to any amendment hereof or thereof on behalf of
        all of the Sellers.  The Seller Representative shall be permitted to communicate with the Sellers, including in electronic form.

    

    

    Section 9.2          Authorization.  By their approval and adoption of this Agreement, the Sellers hereby authorize the Seller Representative, on the Sellers’ behalf, to: (i) receive all notices or documents given or to be given to
        any of the Sellers by Cibus pursuant hereto or to the Intellectual Property Security Agreement or in connection herewith or therewith and to receive and accept service of legal process in connection with any suit or proceeding arising under this
        Agreement or the Intellectual Property Security Agreement; (ii) engage counsel, and such accountants and other advisors for any of the Sellers and incur such other expenses on behalf of any of the Sellers in connection with this Agreement or the
        Intellectual Property Security Agreement and the transactions contemplated hereby or thereby as the Seller Representative may in its sole discretion deem appropriate; and (iii) take such action on behalf of any of the Sellers as the Seller
        Representative may in its sole discretion deem appropriate in respect of (A) taking such other action as the Seller Representative or any of the Sellers is authorized to take under this Agreement or the Intellectual Property Security Agreement, (B)
        receiving all documents or certificates and making all determinations, on behalf of any of the Sellers, required under this Agreement or the Intellectual Property Security Agreement, (C) all such other matters as the Seller Representative may in
        its sole discretion deem necessary or appropriate to consummate this Agreement or the Intellectual Property Security Agreement and the transactions contemplated hereby and thereby and (D) all such action as may be necessary after each applicable
        Closing Date to carry out any of the transactions contemplated by this Agreement and the Intellectual Property Security Agreement, including, without limitation, the defense and/or settlement of indemnity claims and any waiver of any obligation of
        Cibus or the Cibus Entities.  All actions, decisions and instructions of the Seller Representative shall be conclusive and binding upon all of the Sellers.  Except as otherwise provided in this Agreement, the Seller Representative shall have no
        duties to the Sellers, shall not be deemed to be an agent of the Sellers and shall have no liability to any Seller or any other Person, for any action taken, decision made or instruction given by the Seller Representative in connection with this
        Agreement or the Intellectual Property Security Agreement, except in the case of the Seller Representative’s gross negligence or willful misconduct.  The Seller Representative may, in all questions arising under this Agreement, rely on the advice
        of counsel, and for anything done, omitted or suffered in good faith by the Seller Representative in accordance with such advice, the Seller Representative shall not be liable to the Sellers or any other Person.

    
      23

      
        

    

    Section 9.3          Indemnification of Seller Representative.  The Seller Representative shall be indemnified for and shall be held harmless by the Sellers, pro rata based on each Seller’s percentage interest in the Warrant Purchase
        Consideration, against any loss, liability or expense (“Representative Losses”) incurred by the Seller Representative relating to the Seller Representative’s conduct in
        its capacity as Seller Representative, in each case as such Representative Loss is incurred or suffered; provided that in the event it is finally adjudicated that a Representative Loss or any portion thereof was primarily caused by the gross
        negligence or willful misconduct of the Seller Representative, the Seller Representative will reimburse the Sellers the amount of such indemnified Representative Loss attributable to such gross negligence or willful misconduct.  If not paid
        directly to the Seller Representative by the Sellers, any such Representative Losses may be recovered by the Seller Representative from the Sellers through any Warrant Purchase Consideration actually payable to the Sellers pursuant to written
        instructions delivered by the Seller Representative to Cibus.  The indemnification under this Section 9.3 shall survive the termination of this Agreement.  The costs of such indemnification (including the costs and expenses of enforcing this right
        of indemnification) shall be the responsibility of the Sellers, and Cibus shall have no liability therefor.

    

    

    Section 9.4          Attorney-in-Fact.  The Seller Representative is hereby appointed and constituted the true and lawful attorney-in-fact of each Seller, with full power in his, her or its name and on his, her or its behalf to act
        according to the terms of this Agreement and the Intellectual Property Security Agreement, in the absolute discretion of the Seller Representative and in general to do all things and to perform all acts, including executing and delivering the
        Intellectual Property Security Agreement and any other agreements, certificates, receipts, instructions, notices or instruments contemplated by or deemed advisable in connection with this Agreement and the Intellectual Property Security Agreement. 
        This power of attorney and all authority hereby conferred is granted and shall be irrevocable and shall not be terminated by any act of any Seller, by operation of law (whether by such Seller’s death, disability or protective supervision) or any
        other event.  Without limitation to the foregoing, this power of attorney is to ensure the performance of a special obligation, and, accordingly, each Seller hereby renounces his, her or its right to renounce this power of attorney unilaterally
        before the termination of this Agreement.  Each Seller hereby waives any and all defenses that may be available to contest, negate or disaffirm the action of the Seller Representative taken in good faith under this Agreement or the Intellectual
        Property Security Agreement.

    
      24

      
        

    

    Section 9.5          Liability.  If the Seller Representative is required by the terms of this Agreement or the Intellectual Property Security Agreement to determine the occurrence of any event or contingency, the Seller
        Representative shall, in making such determination, not be liable to the Sellers or any other Person except to the extent of Sellers’ losses that are finally adjudicated to be primarily caused by the Seller Representative's gross negligence or
        willful misconduct as determined in light of all the circumstances, including the time and facilities available to the Seller Representative in the ordinary course of business consistent with past practice.  In determining the occurrence of any
        such event or contingency, the Seller Representative may request from any of the Sellers such reasonable additional evidence as the Seller Representative in its sole discretion may deem necessary to determine any fact relating to the occurrence of
        such event or contingency and may at any time inquire of and consult with others, including any of the Sellers.  The Seller Representative shall not be liable to any Sellers or any other Person for any damages resulting from the Seller
        Representative’s delay in acting hereunder pending its receipt and examination of additional evidence requested by it.

    

    

    Section 9.6          Removal of Seller Representative; Authority of Successor Seller Representative.  Those Sellers that are entitled in the aggregate to a majority of the Warrant Purchase Consideration payable from time to time
        hereunder (the “Majority Sellers”) shall have the right at any time during the term of this Agreement to remove the then-acting Seller Representative and to appoint a
        successor Seller Representative; provided, however, that neither such removal of the then acting Seller Representative nor such appointment of a successor Seller Representative shall be effective until the delivery to Cibus of executed counterparts
        of a writing signed by the Majority Sellers with respect to such removal and appointment, together with an acknowledgment signed by the successor Seller Representative appointed in such writing that it accepts the responsibility of successor Seller
        Representative and agrees to perform and be bound by all of the provisions of this Agreement applicable to the Seller Representative.  If the Seller Representative shall resign, the Majority Sellers shall, within ten (10) days after such
        resignation, appoint a successor to the Seller Representative.  Each successor Seller Representative shall have all of the power, authority, rights and privileges conferred by this Agreement upon the original Seller Representative, and the term
        “Seller Representative” as used herein shall be deemed to include any interim or successor Seller Representative.

    

    

    Section 9.7          Actions of Seller Representative.  Any action taken by the Seller Representative pursuant to the authority granted in this ARTICLE 9 shall be effective and absolutely binding on each Seller notwithstanding any
        contrary action of, or direction from, any Seller.

    

    

    Section 9.8          Reliance.  Each of Cibus, the Cibus Entities and their Affiliates shall not be obligated to inquire into the authority of the Seller Representative, and each of them shall be fully protected in dealing with the
        Seller Representative hereunder.

    

    

    Section 9.9          Binding Appointment.  The provisions of this Agreement, including this ARTICLE 9, shall be binding upon each Seller and the executors, heirs, legal representatives and successors of each Seller, and any
        references in this Agreement to a Seller shall mean and include the successors to the Sellers’ rights hereunder, whether pursuant to testamentary disposition, the laws of descent and distribution or otherwise.

    
      25

      
        

    

  

  ARTICLE 10

  

  

  MISCELLANEOUS

  

  

  Section 10.1           Definitions.  The following terms, as used herein, shall have the
      following meanings:

  

  

  “Affiliate” means, with respect to any particular Person, any
      other Person directly or indirectly controlling, controlled by or under common control with such particular Person.

  

  

  “Agreement” is defined in the preamble.

  

  

  “Annual Report” is defined in Section 5.1.

  

  

  “Bankruptcy Laws” means, collectively, bankruptcy, insolvency,
      reorganization, moratorium, fraudulent conveyance, fraudulent transfer or other similar laws affecting the enforcement of creditors’ rights generally.

  

  

  “Bridge Financing” means a convertible note bridge financing
      undertaken by Cibus in May of 2014 in the aggregate original principal amount of four million dollars (USD$4,000,000).

  

  

  “Business Day” means any day other than (i) a Saturday or Sunday
      or (ii) a day on which banking institutions located in the state of New York are permitted or required by applicable law or regulation to remain closed.

  

  

  “Cibus” is defined in the preamble.

  

  

  “Cibus Entities” is defined in Section 1.5.

  

  

  “Cibus Indemnified Parties” is defined in Section 6.1(b).

  

  

  “Closing” is defined in Section 1.2.

  

  

  “Closing Date” is defined in Section 1.2.

  

  

  “Code” means the Uniform Commercial Code, as the same may, from
      time to time, be enacted and in effect in the State of New York; provided, that, to the extent that the Code is used to define any term herein or in any other Transaction Document and such term is defined differently in different Articles or
      Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or
      remedies with respect to, the Seller’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in
      such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions.

  

  

  “Collateral” is defined in Section 1.5(a).

  
    26

    
      

  

  “Collateral Agent” is defined in the Intellectual Property
      Security Agreement.

  

  

  “Commercial Updates” means material information and developments
      with respect to the commercialization plans and prospects for RTDS, including, without limitation, with respect a summary of significant
      commercial results and challenges anticipated; a summary of the  commercialization and marketing activities with respect to RTDS.

  

  

  “Commercialization” means any and all activities directed to the
      manufacture, distribution, marketing, detailing, promotion, selling and securing of reimbursement of any of Cibus’ or its Affiliates’ products and product candidates (including without limitation making, using, importing, selling and offering for
      sale any product), and shall include post-launch marketing, promoting, detailing, marketing research, distributing, customer service, selling a product, importing, exporting or transporting a product for sale, and regulatory compliance with respect
      to the foregoing.  When used as a verb, “Commercialize” shall mean to engage in Commercialization.

  

  

  “Confidential Information” is defined in Section 7.1.

  

  

  “Correction Warrants” is defined in the Recitals.

  

  

  “Disclosing Party” is defined in Section 7.1.

  

  

  “Disclosure Schedule” means the Disclosure Schedule, dated as of
      the date hereof, delivered to the Seller by Cibus concurrently with the execution of this Agreement.

  

  

  “Effective Date” is defined in the Preamble.

  

  

  “Existing In‐License” is defined in Section 3.1(h)(i).

  

  

  “Financing Amendment” is defined in the Recitals.

  

  

  “First Tranche Warrants” is defined in the Recitals.

  

  

  “Fourth Tranche Warrants” is defined in the Recitals.

  

  

   “Governmental Entity” means any: (i) nation, principality,
      republic, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (ii) federal, state, local, municipal, foreign or other government; (iii) governmental or quasi-governmental authority of any
      nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, board, instrumentality, officer, official, representative, organization, unit, body or other entity and any court, arbitrator
      or other tribunal); (iv) multi-national organization or body; or (v) individual, body or other entity exercising, or entitled to exercise, any executive, legislative, judicial, administrative, regulatory, police, military or taxing authority or power
      of any nature.

  

  

  “Improvements” means any improvement, invention or discovery
      relating to RTDS.

  

  

  “Indemnity Claim” is defined in Section 9.1.

  
    27

    
      

  

  “Initial Term” is defined in Section 8.2.

  

  

  “In-License” means any license, settlement agreement or other
      agreement between Cibus or any of its Affiliates and any Third Party pursuant to which Cibus or any of its Affiliates obtains a license, a covenant not to sue or similar grant of rights to any RTDS Right that is or was necessary or useful for the research, development, use or Commercialization of RTDS.

  

  

  “Intellectual Property Security Agreement” means the
      Intellectual Property Security Agreement, dated as of the date hereof, by and among the Seller Representative, Cibus and each of the applicable Cibus Entities.

  

  

  “Intellectual Property Updates” means any new Patents issued or
      patent applications filed relating to RTDS, any abandonments of rights in a particular jurisdiction with respect to any of the Patent Rights
      and any other material information or developments with respect to the RTDS Rights.

  

  

  “Investors” has the meaning set forth in the Recitals.

  

  

  “Joinder Agreement” is defined in Section 1.2 and Exhibit A.

  

  

  “Judgment” means any judgment, order, writ, injunction,
      citation, award or decree of any nature.

  

  

  “Knowledge of Cibus” means the actual knowledge as of the
      Effective Date of Cibus’ Chief Executive Officer, Chief Financial Officer and Chief Technology Officer/Head of Research.

  

  

  “Late Payment Notice” is defined Section 5.4(c).

  

  

  “Lien” means any mortgage, lien, pledge, participation interest,
      charge, adverse claim, security interest, encumbrance or restriction of any kind, including any restriction on use, transfer or exercise of any other attribute of ownership of any kind.

  

  

  “Loss” means any and all Judgments, damages, losses, claims,
      costs, liabilities and expenses, including reasonable fees and out-of-pocket expenses of counsel arising or resulting from any third-party claim; provided, however, that “Loss” shall not include any consequential, punitive, special or incidental
      damages.

  

  

  “Major Investor Cap” is defined in Section 1.6.

  

  

  “Major Investors” means those holders of Warrants set forth on
      Schedule 1, together with their permitted successors and assigns.

  

  

  “Majority Sellers” is defined in Section 9.6.

  

  

  “Minority Investor Cap” is defined in Section 1.6.

  

  

  “Minority Investors” means all holders of Warrants other than
      the Major Investors.

  
    28

    
      

  

  “Minority Protection Outside Date” is defined in Section 1.6.

  

  

  “Modification” is defined in Section 5.11(b).

  

  

  “Net Present Value of Subject Revenues” means the net present
      value of Cibus’ Subject Revenues as of the date of the initial Closing, as mutually determined by Cibus and the Seller Representative at the time of the initial Closing.  The parties have determined that the Net Present Value of Subject Revenues is
      ninety-two million nine hundred seventy-nine thousand dollars ($92,979,000).

  

  

  “Non-disclosing Party” is defined in Section 7.1.

  

  

  “Nucelis Business” means the business of Nucelis reflected in
      that certain License Agreement, dated July 25, 2013, by and between Cibus and Nucelis.

  

  

  “One-Year Holding Period” is defined in Section 1.2.

  

  

  “Out-License” means any license or other agreement between Cibus
      or any of its Affiliates and any Third Party pursuant to which Cibus or any of its Affiliates grants a license of, or sublicenses, any RTDS
      Right that is necessary or useful for the research, development, use or Commercialization of any products or product candidates of Cibus or its Affiliates, including any agreement pursuant to which a Third Party obtains the right to promote and
      market any such product or product candidate or any option or similar right to enter into such agreement; provided, however, that “Out-License” shall not include an agreement pursuant to which a Third Party obtains merely the right to distribute products.

  

  

   “Partial Asset Transfer” means any sale, transfer, exclusive
      license or other disposition by Cibus or any of the Cibus Entities of any assets or rights (including any assets or rights with application in the fields of human therapeutics, biologicals not related to the Nucelis Business, animal therapeutics or
      specific categories of plant traits) that, immediately prior to the consummation of such transaction, (a) generate, or would reasonably be expected to generate in the future, Subject Revenues to Cibus or its Affiliates absent the occurrence of such
      transaction, (b) generate, or would reasonably be expected to contribute to the creation of products or the creation of processes associated with products that would generate Subject Revenues to Cibus or its Affiliates as result of the use or
      application of such assets in such transaction; provided, that a Sale Transaction shall in no event constitute a Partial Asset Transfer.

  

  

  “Participation Rate” means a percentage determined by dividing
      (a) the aggregate value of the Warrant Shares underlying the Subject Warrants being sold to Cibus in the applicable Closing, determined by multiplying the number of such Warrant Shares by the Per Share Warrant Value, by (b) the agreed upon Net
      Present Value of Subject Revenues; provided, that the maximum aggregate issued Participation Rate taking into account all Closings shall in no event exceed 10%
      (and prior to the Minority Protection Outside Date, subject to the Major Investor Cap and the Minority Investor Cap).  For example, if (i) the Net Present Value is established at $92,979,000 and (ii) Cibus agrees to purchase Subject Warrants
      exercisable for 1,239,700 Warrant Shares in an applicable Closing, the Participation Rate attributable to the purchase of such Subject Warrants in such Closing would equal 1.0%, determined by dividing (A) the product of $0.75 and 1,239,720
      ($929,790), by (B) $92,979,000.

  
    29

    
      

  

  “Partner Agreement(s)” is defined in Section 3.1(i)(i).

  

  

  “Patent Rights” means any and all Patents in the Territory which
      are owned or controlled by Cibus or any of the Cibus Entities or under which Cibus or any of the Cibus Entities is or may become empowered to grant licenses, the subject matter of which is necessary or useful in the development, manufacture, use,
      marketing, promotion, sale or distribution of RTDS, as well as any existing or future Patents covering any Improvements related to RTDS.

  

  

  “Patents” means all patents and patent applications existing as
      of the date of this Agreement and all patent applications filed hereafter, including any continuation, continuation-in-part, division, provisional or any substitute applications, any patent issued with respect to any of the foregoing patent
      applications, any certificate, reissue, reexamination, renewal or patent term extension or adjustment (including any supplementary protection certificate) of any such patent or other governmental actions which extend any of the subject matter of a
      patent, and any substitution patent, confirmation patent or registration patent or patent of addition based on any such patent, and all foreign counterparts of any of the foregoing.

  

  

  “Payment Breach” is defined in Section 1.5(b).

  

  

  “Per Share Warrant Value” means $0.75 per Warrant Share
      underlying the Subject Warrants sold by the Seller(s) to Cibus in an applicable Closing.

  

  

  “Permitted License” is defined in Section 5.12.

  

  

  “Permitted Licensee” is defined in Section 5.12.

  

  

  “Permitted Liens” means (a) Liens for Taxes not yet delinquent
      or Liens for Taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established; and (b) Liens in respect of property or assets imposed by law which were incurred in the ordinary course of business,
      such as supplier’s, carriers’, warehousemen’s, distributors’, wholesaler’s, materialmen’s and mechanic’s Liens and other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or are
      subject to a right of set-off or which are being contested in good faith and by appropriate proceedings.

  

  

  “Person” means any individual, firm, corporation, company,
      partnership, limited liability company, trust, joint venture, association, estate, trust, Governmental Entity or other entity, enterprise, association or organization.

  

  

  “Prime

          Rate” means the prime rate published by The Wall Street Journal, from time to time, as the prime rate.

  

  

  “Representative” means, with respect to any Person, (i) any
      direct or indirect member or partner of such Person and (ii) any manager, director, officer, employee, agent, advisor or other representative (including attorneys, accountants, consultants, lenders and potential lenders, investors, bankers and
      financial advisers) of such Person.

  

  

  “Representative Losses” is defined in Section 9.3.

  
    30

    
      

  

  “RTDS” means Cibus’
      technology platform known as the Rapid Trait Development SystemTM.

  

  

  “RTDS Rights” means any and all of the following, as they exist throughout the world: (A) the Patent Rights; (B) rights in registered and unregistered trademarks, service marks,
      trade names, trade dress, logos, packaging design, slogans and Internet domain names, and registrations and applications for registration of any of the foregoing, in each case, as related to RTDS; (C) copyrights in both published and unpublished works, including without limitation all compilations, databases and computer programs, manuals and other documentation and all copyright
      registrations and applications, and all derivatives, translations, adaptations and combinations of the above, in each case, as related to RTDS;
      (D) rights in commercial, technical, scientific and other know-how, trade secrets, confidential or proprietary information, research in progress, algorithms, data, databases, data collections, designs, processes, procedures, methods, protocols,
      chemical and biological materials (including any compounds, DNA, RNA, clones, vectors, cells and any expression product, progeny, derivatives or improvements thereto), formulae, drawings, schematics, blueprints, flow charts, models, strategies,
      prototypes, techniques, and the results of experimentation and testing, including samples, in each case, as specifically related to RTDS;
      (E) any and all other intellectual property rights and/or proprietary rights, whether or not patentable, specifically relating to any of the foregoing; (F) claims of infringement and misappropriation against Third Parties relating to RTDS; and (G) regulatory filings, submissions and approvals related to RTDS.

  

  

  “Sale Transaction” means the (a) sale or transfer of all or
      substantially all of the assets of Cibus related to RTDS on a consolidated basis to a Third Party, whether by merger, reorganization,
      consolidation, sale of equity interests or otherwise or (b) the acquisition of all or a majority of the outstanding voting equity interests of Cibus in a single transaction or a series of related transactions by one or more Third Parties.

  

  

  “Second Tranche Warrants” is defined in the Recitals.

  

  

  “Seller” is defined in the preamble.

  

  

  “Seller Indemnified Parties” is defined in Section 6.1(a).

  

  

  “Seller Representative” is defined in the preamble.

  

  

  “Subject Revenues” means all cash, when and actually received by
      Cibus, any Cibus Entity or any other wholly owned subsidiary of Cibus or any Cibus Entity, attributable to product sales, license fees, sublicense payments, distribution fees, milestones, maintenance payments, royalties and distributions to Cibus,
      any Cibus Entity or any other wholly owned subsidiary of Cibus or any Cibus Entity from Affiliates of Cibus (but only to the extent that such distributions are attributable to revenues derived by such Affiliate and would be Subject Revenues in the
      hands of such Affiliate), but in each case without duplication with respect to any such cash amounts distributed by a Cibus Entity or other wholly owned subisidiary of Cibus or any Cibus Entity to Cibus or any other Cibus Entity; provided, however,
      that Subject Revenues shall exclude: (a) any such amounts attributable to or received by Cibus’ Nucelis Business (or any successor thereto), (b) any amounts received by Cibus or its subsidiaries arising out of or resulting from a sale or other
      disposition of any of the assets of Cibus or its subsidiaries to the extent the purchaser thereof agrees to be bound by the terms hereof, (c) payments for securities of Cibus (at fair market value, as determined by the Board of Directors of Cibus,
      with any premium constituting Subject Revenues) and (d) payments from Third Parties specifically paid to Cibus to be applied toward obligations of Cibus to such Third Parties to conduct research and development activities or to reimburse costs to be
      incurred in the future by Cibus for product development.  Notwithstanding the foregoing, following a Sale Transaction, Subject Revenues shall include only such consideration attributable to (w) products or technology first identified, developed or
      commercialized by or on behalf of Cibus or the Cibus Entities on or prior to the effective date of the consummation of the Sale Transaction, (x) products or technology developed by using, or whose use or manufacture uses, any RTDS Rights owned or otherwise controlled by Cibus or the Cibus Entities on or prior to the effective date of the consummation of the Sale Transaction, (y) any
      other product or technology that is based on any intellectual property rights (including any Patents or trade secrets) in or to any RTDS
      technology or oligonucleotide directed mutagenesis technology in any applications in plants, biologicals  not related to the Nucelis Business, animals and humans, and (z) improvements directly relating to any such products or technology referred to
      in clauses (w), (x) and (y).

  
    31

    
      

  

  “Subject Warrants” is defined in the Recitals.

  

  

  “Subsequent Financing” is defined in the Recitals.

  

  

  “Tax” or “Taxes” means any federal, state, local or foreign income, gross receipts, license, payroll, employment, excise, severance, occupation, premium, windfall profits, environmental, customs duties, capital stock, franchise,
      profits, withholding, social security, unemployment, disability, real property, personal property, abandoned property, value added, alternative or add-on minimum, estimated or other tax of any kind whatsoever, including any interest, penalty or
      addition thereto, whether disputed or not.

  

  

  “Territory” means the entire world.

  

  

  “Third Party” means any Person that is not Cibus or Cibus’
      Affiliates.

  

  

  “Third Tranche Warrants” is defined in the Recitals.

  

  

  “Transaction Documents” means this Agreement and the
      Intellectual Property Security Agreement.

  

  

  “Unit” is defined in the Recitals.

  

  

  “Warrant Purchase Consideration” means the aggregate amount of
      all Warrant Purchase Payments payable to the Sellers during the term of this Agreement.

  
    32

    
      

  

  “Warrant Consideration Report” is defined in Section 5.4(d).

  

  

  “Warrant Purchase Payment” means, for each calendar quarter
      during the term of this Agreement, an amount payable to the Sellers equal to the aggregate amount of the worldwide Subject Revenues received by Cibus during such quarter, multiplied by the Participation Rate.

  

  

  “Warrant Shares” is defined in the Recitals.

  

  

  “Warrants” is defined in the Recitals.

  

  

  Section 10.2           Certain Interpretations.  Except where expressly stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement:

  

  

  (a)          “either” and “or” are not exclusive and “include,”
      “includes” and “including” are not limiting and shall be deemed to be followed by the words “without limitation”;

  

  

  (b)          “extent” in the phrase “to the extent” means the degree to
      which a subject or other thing extends, and such phrase does not mean simply “if”;

  

  

  (c)          “hereof,” “hereto,” “herein” and “hereunder” and words of
      similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement;

  

  

  (d)          references to a Person are also to its permitted
      successors and assigns;

  

  

  (e)          definitions are applicable to the singular as well as the
      plural forms of such terms;

  

  

  (f)          references to an “Article”, “Section” or “Exhibit” refer
      to an Article or Section of, or an Exhibit to, this Agreement, and references to a “Schedule” refer to the corresponding part of the Disclosure Schedule;

  

  

  (g)          references to “$” or otherwise to dollar amounts refer to
      the lawful currency of the United States; and

  

  

  (h)          references to a law include any amendment or modification
      to such law and any rules and regulations issued thereunder, whether such amendment or modification is made, or issuance of such rules and regulations occurs, before or after the date of this Agreement.

  

  

  Section 10.3           Headings.  The table of contents and the descriptive headings of
      the several Articles and Sections of this Agreement and the Exhibits and Schedules are for convenience only, do not constitute a part of this Agreement and shall not control or affect, in any way, the meaning or interpretation of this Agreement.

  

  

  Section 10.4           Notices.  All notices and other communications under this
      Agreement shall be in writing and shall be by email with PDF attachment, facsimile, courier service or personal delivery to the following addresses, or to such other addresses as shall be designated from time to time by a party hereto in accordance
      with this Section 10.4:

  
    33

    
      

  

  If to Cibus, to it at:

  

  

  Cibus Global, Ltd.

  c/o Cibus US LLC

  6455 Nancy Ridge Dr.

  San Diego, CA 92121

  Attn: President

  

  

  with a copy to:

  

  

  Jones Day

  12265 El Camino Real, Suite #300

  San Diego, CA 92130

  Attn: Ken D. Polin, Esq.

  

  

  If to any Seller or to the Seller Representative, to the Seller Representative at:

  

  

  Rory Riggs

  c/o Balfour, LLC

  110 East 59th St.

  33rd Floor

  New York, NY 10022

  

  

  with copies to:

  

  

  Goodwin Procter LLP

  53 State Street

  Boston, MA  02109

  Attn: Kingsley L. Taft, Esq.

   

    

  Syntax Analytics LLC

  179 Franklin Street 3rd Floor

  New York, NY 10013

  Attn: James Denaro, Esq., SVP Legal

  

  

  All notices and communications under this Agreement shall be deemed to have been duly given (i) when delivered by hand, if personally delivered, (ii) when sent,
      if sent by facsimile, with an acknowledgement of sending being produced by the sending facsimile machine, (iii) when sent, if by email with PDF attachment, with an acknowledgement of sending being produced by the sender’s email account, or (iv) one
      (1) Business Day following sending within the United States by overnight delivery via commercial one (1)-day overnight courier service.  For the sake of clarity, any notice or communication from Cibus to any Seller or Sellers shall be deemed to have
      been duly given to such Seller or Sellers if and when delivered to the Seller Representative in accordance with the immediately preceding sentence.

  

  

  Section 10.5          Expenses. 

      Except as otherwise provided herein, all fees, costs and expenses (including any legal, accounting and banking fees) incurred in connection with the preparation, negotiation, execution and delivery of this Agreement and to consummate the transactions
      contemplated hereby shall be paid by the party hereto incurring such fees, costs and expenses.

  
    34

    
      

  

  Section 10.6          Assignment.  This
      Agreement shall be binding upon, inure to the benefit of and be enforceable by, the parties hereto and their respective permitted successors and assigns.  Cibus may not assign this Agreement, any of its rights or obligations hereunder or any of the
      Patent Rights or any other intellectual property rights with respect to RTDS (other than in connection with a Permitted License), without
      the Seller Representative’s prior written consent except in connection with a Sale Transaction; provided that the successor entity in connection with such Sale Transaction expressly assumes in writing to the Sellers in a form reasonably acceptable to
      the Seller Representative all of Cibus’ rights and obligations under this Agreement.  No Seller may assign this Agreement or any of its rights or obligations hereunder except to an Affiliate of such Seller or to any individual Investor without Cibus’
      prior written consent, which shall not be unreasonably withheld.  Any purported assignment in violation of this Section 10.6 shall be null and void.

  

  

  Section 10.7          Amendment and Waiver.

  

  

  (a)          This Agreement may be amended, modified or supplemented
      only in a writing signed by Cibus and the Seller Representative; provided, however, that any amendment relating to the protections set forth herein granted to the Minority Investors  shall also require the consent of holders of a majority of the
      Warrant Shares subject to the then outstanding Warrants held by the Minority Investors.  Any provision of this Agreement may be waived only in a writing signed by the party hereto granting such waiver.

  

  

  (b)          No failure or delay on the part of any party hereto in
      exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or
      remedy.  No course of dealing between the parties hereto shall be effective to amend, modify, supplement or waive any provision of this Agreement.

  

  

  Section 10.8
                 Entire Agreement.  This Agreement, the Exhibits annexed hereto and the Disclosure Schedule constitute the entire understanding between the parties hereto with respect to the subject matter hereof and supersede all other
      understandings and negotiations with respect thereto.

  

  

  Section 10.9
                 No Third Party Beneficiaries.  This Agreement is for the sole benefit of Cibus and the Sellers and their permitted successors and assigns and nothing herein expressed or implied shall give or be construed to give to any
      Person, other than the parties hereto and such successors and assigns, any legal or equitable rights hereunder.

  

  

  Section 10.10
               Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice or conflict of law provision or rule that would cause the application
      of the laws of any other jurisdiction.

  
    35

    
      

  

  Section 10.11        Arbitration.   Unless this Agreement expressly provides otherwise, each of the parties to this Agreement agrees that any and all disputes, claims or controversies arising out of or relating to this Agreement that are not
      resolved by their mutual agreement shall be submitted to final and binding arbitration in New York, New York before JAMS, or its successor, pursuant to the United States Arbitration Act, 9 U.S.C. Sec. 1 et seq.  Either party to any such dispute,
      claim or controversy may commence the arbitration process called for in this Agreement by filing a written demand for arbitration with JAMS, with a copy to the other party and to Cibus.  The arbitration will be conducted in accordance with the
      provisions of JAMS’ Streamlined Arbitration Rules and Procedures in effect at the time of filing of the demand for arbitration.  The parties will cooperate with JAMS and with one another in selecting a single arbitrator from JAMS’ panel of neutrals,
      and in scheduling the arbitration proceedings.  The parties covenant that they will participate in the arbitration in good faith, and that each party will bear its own costs in respect of any disputes arising under this Agreement, provided, however,
      that the JAMS panel shall be authorized to assess costs against any party, in their discretion, determined to have acted in bad faith or without good cause.  The provisions of this paragraph may be enforced by any court of competent jurisdiction, and
      the party seeking enforcement shall be entitled to an award of all costs, fees and expenses, including reasonable attorneys’ fees, to be paid by the party against whom enforcement is ordered.

  

  

  Section 10.12
               Severability.  If any term or provision of this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any situation in any jurisdiction, then, to the extent that the economic and legal substance of
      the transactions contemplated hereby is not affected in a manner that is materially adverse to either party hereto, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect and the enforceability and
      validity of the offending term or provision shall not be affected in any other situation or jurisdiction.

  

  

  Section 10.13
               Specific Performance.  Each of the parties acknowledges and agrees that the other party would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific
      terms or otherwise are breached or violated.  Accordingly, each of the parties agrees that, without posting bond or other undertaking, the other party may be entitled to an injunction or injunctions to prevent breaches or violations of the provisions
      of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action, suit or other proceeding instituted in any court of the United States or any state thereof having jurisdiction over the parties and the
      matter in addition to any other remedy to which it may be entitled, at law or in equity.  Each party further agrees that, in the event of any action for specific performance in respect of such breach or violation, it will not assert the defense that
      a remedy at law would be adequate.

  

  

  Section 10.14
               Counterparts.  This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together
      shall constitute one and the same agreement.  Copies of executed counterparts transmitted by telecopy, facsimile or other similar means of electronic transmission, including “PDF,” shall be considered original executed counterparts, provided receipt
      of such counterparts is confirmed.

  
    36

    
      

  

  Section 10.15
               Relationship of the Parties.  The relationship between each of the Sellers and Cibus is solely that of purchaser and seller, and neither any Seller nor Cibus has any fiduciary or other special relationship with the other party
      or any of its Affiliates.  This Agreement is not a partnership or similar agreement, and nothing contained herein shall be deemed to constitute any Seller and Cibus as a partnership, an association, a joint venture or any other kind of entity or
      legal form for any purposes, including any Tax purposes.  Each Seller and Cibus agree that they shall not take any inconsistent position with respect to such treatment in a filing with any Governmental Entity.

  

  

  [Signature Page Follows]

  
    37

    
      

  

  

  

  IN WITNESS WHEREOF, the parties hereto have caused this Warrant Transfer and Exchange Agreement to be executed and delivered by their
      respective representatives thereunto duly authorized as of the date first above written.

  	 	 	 
	 	 	 
	 	 
	 	
          CIBUS GLOBAL, LTD.

        
	 	 	 
	 	 	 
	 	
          By:

        	
          
            /s/ Peter Beetham

          

        
	 	Name:	
          Peter Beetham, Ph.D.

        
	 	Title:

            	
          President & Chief Executive Officer                                            

        
	 	 	 
	 	 	 
	 	 	 
	 	
          SELLER REPRESENTATIVE 

          

        
	 	 
	 	
          RORY RIGGS

        
	 	 	 
	 	 	 
	 	 	
          
            /s/ Rory Riggs

          

        
	 	 	 
	 	 	 
	 	 	 

  

  

  
    [SIGNATURE PAGE TO WARRANT TRANSFER AND EXCHANGE AGREEMENT]

  

  
    
      

  

  SCHEDULE 1

  MAJOR INVESTORS

  

  

  
    
      	

            	●	
              Richard Spizzirri

            

    

  

  
    
      	

            	●	
              DTC CFBO Richard Spizzirri IRA

            

    

  

  
    
      	

            	●	
              Rory Riggs

            

    

  

  
    
      	

            	●	
              Rory Riggs Family Trust

            

    

  

  
    
      	

            	●	
              Jean-Pierre Lehmann

            

    

  

  
    
      	

            	●	
              New Ventures Holdings, Inc.

            

    

  

  

  

  
    
      

  

  SCHEDULE 3.1(h)(i)

  IN-LICENSE AGREEMENTS

  

  

  [***]

  

  

  

  

  

  

  

  

  [***] CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE COMMISSION

  

  

  
    
      

  

  SCHEDULE 3.1(j)(i)

  PATENTS AND PATENT RIGHTS

  

  

  [***]

  

  

  

  

  

  

  

  

  

  

  [***] CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE COMMISSION

  

  

  
    
      

  

  SCHEDULE 3.1(j)(ii)

  LITIGATION

  

  

  None.

  

  

  
    
      

  

  EXHIBIT A

  CIBUS GLOBAL, LTD.

  

  

  
    WARRANT TRANSFER AND EXCHANGE AGREEMENT

    

    

    JOINDER AGREEMENT

    

    

  

  
    Pursuant to and in accordance with Section 1.3 of the Warrant Transfer and Exchange Agreement, dated December 31, 2014 (as amended,
        restated or otherwise modified from time to time, the “Agreement”), by and among Cibus Global, Ltd. (“Cibus”),

        the persons and entities named therein as Sellers and Rory Riggs as the Seller Representative (“Seller Representative”), the undersigned Seller has agreed to sell to Cibus
        one or more Warrants in exchange for a portion of the Warrant Purchase Consideration, as further set forth below and pursuant to the terms and conditions of the Agreement.  Capitalized terms used but not otherwise defined herein shall have the
        meanings ascribed to them in the Agreement.

    

    

  

  1.          Agreements.  The undersigned Seller hereby certifies that (a) such Seller has read and understands the Agreement and the Intellectual Property Security Agreement and (b) such Seller desires to sell to Cibus, pursuant to the
      terms and conditions of the Agreement, Warrants to purchase ________________ shares of Series A Preferred Stock held by the undersigned (the “Seller’s Subject Warrants”). 
      In the event the Seller’s Subject Warrant is being sold with respect to less than all of the shares of Series A Preferred Stock subject thereto, Cibus hereby agrees to issue and deliver to Seller a new warrant exercisable for that number of shares of
      Series A Preferred Stock subject to Seller’s Subject Warrants not being sold pursuant to this Joinder Agreement.  The undersigned Seller hereby acknowledges and agrees that the sale of the Seller’s Subject Warrants pursuant to this Joinder Agreement
      is subject to and conditioned upon the terms and conditions of the Agreement and that no Closing will occur with respect to the Seller’s Subject Warrants unless and until all such terms and conditions have been satisfied.  In addition, the
      undersigned Seller represents and warrants to Cibus and the Seller Representative that with respect to the portion of the Seller’s Subject Warrants being sold pursuant hereto, the Seller has held such Subject Warrants for a period of at least one (1)
      year from the date of issuance of such Subject Warrants.

  

  

  2.          Cancellation of Warrants; Joinder.  The undersigned Seller hereby agrees that as a condition precedent to and effective upon the Closing of the sale and purchase of the Seller’s Subject Warrants, (a) the Seller’s Subject
      Warrants shall be cancelled by Cibus in accordance with Section 1.2 of the Agreement in exchange for the right to receive the Warrant Purchase Consideration with respect to such Seller’s Subject Warrants, (b) the undersigned Seller shall become a
      party to and bound by the Agreement as a “Seller” in all respects and (c) the undersigned Seller shall become a party to and bound by the Intellectual Property Security Agreement as a “Secured Party” in all respects.

  

  

  3.          Seller Representations and Warranties.  Without limiting the foregoing or anything else contained in the Agreement, the undersigned Seller hereby confirms that the representations and warranties of the Sellers contained in
      Section 3.2 of the Agreement are true and correct with respect to the undersigned Seller as of the date hereof.

  
    
      

  

  4.          Release.  Effective upon the Closing of the sale and purchase of the Seller’s Subject Warrants, the undersigned Seller, on behalf of (a) if the undersigned is an individual, himself or herself and his or her heirs, successors
      and assigns and (b) if the undersigned is an entity, the undersigned and its partners, directors, officers and employees, solely in their capacities as such (collectively, the “Releasing

          Parties”), forever irrevocably and unconditionally waives and releases Cibus, the Seller Representative, and their respective predecessors, successors, assigns, parents, subsidiaries, divisions and insurers and each of their respective
      directors, officers, stockholders, employees, agents and Affiliates (the “Releasees”) from any and all Claims (as defined below), known and unknown, existing or claimed to
      exist, fixed or contingent that have been or might have been asserted under any foreign, federal, state, local or common law, directly or indirectly, arising out of or in any way related to the Seller’s Subject Warrants, the Seller’s ownership
      thereof and the Seller’s election to sell the Seller’s Subject Warrants to Cibus (collectively, the “Released Claims”).  The undersigned Seller hereby acknowledges having
      considered the possibility that the undersigned may not now know the nature or value of the claims that are released pursuant to this paragraph and that such release extends to all claims of every nature and kind, known or unknown, suspected or
      unsuspected, past, present or future, however arising, relating to the Seller’s Subject Warrants, the Seller’s ownership thereof and the Seller’s election to sell the Seller’s Subject Warrants to Cibus.  In addition, the undersigned (i) represents,
      warrants and acknowledges that the undersigned has been fully advised by his, or its attorney of the contents of Section 1542 of the Civil Code of the State of California and (ii) expressly waives any rights or benefits under Section 1542 of the
      Civil Code of the State of California and any similar provisions of the law of any other jurisdiction.  Section 1542 of the Civil Code of the State of California states:

  

  

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

  

  
    

    

  

  
    Notwithstanding anything to the contrary herein, the foregoing shall not constitute a release of claims or any other matter with respect to any of the rights
        of the undersigned or any obligations of the Releasees to the undersigned arising out of the Agreement or the Intellectual Property Security Agreement.

    

    

  

  5.          Governing Law.  This Joinder Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice or conflict of law provision or rule that would cause the
      application of the laws of any other jurisdiction.

  

  

  
    [remainder of this page intentionally left blank]

  

  
    
      
        

    

    IN WITNESS WHEREOF, this Joinder Agreement has been duly executed by or on behalf of the undersigned as of the date set forth below.

  

  
    

    

  

  
    SELLER:

  

  

  

  
    	
             

          	
             

          	 	
             

          	
             

          
	

          	 	
            
              Date:

            

          	
             

          
	
            
              (print name of individual or entity stockholder)

            

          	 	
             

          	
             

          
	
             

          	
             

          	 	
             

          	
             

          
	
             

          	 	
             

          	
             

          
	
            (signature)

          	 	
             

          	
             

          
	
             

          	
             

          	 	
             

          	
             

          
	

          	 	
             

          	
             

          
	
            
              (name, if applicable)

            

          	 	
             

          	
             

          
	
             

          	
             

          	 	
             

          	
             

          
	

          	 	
             

          	
             

          
	
            
              (title, if applicable)

            

          	 	
             

          	
             

          
	
             

          	
             

          	 	
             

          	
             

          
	
            Address:  

            

          	
             

          	 	
             

          	
             

          
	

          	 	
             

          	
             

          
	

          	 	
             

          	
             

          

  

  

  

  

  

  
    
      ACKNOWLEDGED AND AGREED:

    

  

  

  

  
    	
            
              Cibus Global, Ltd.

            

          	 	
            
              Seller Representative:

            

          
	
             

          	
             

          	 	
             

          	
             

          
	
            
              By:  

              

            

          	
             

          	 	
            
              By:  

              

            

          	
             

          
	
            
              Name:  

              

            

          	
             

          	 	
            
              Name:  

              

            

          	
             

          
	
            
              Title:  

              

            

          	
             

          	 	
            
              Title:  

              

            

          	
             

          
	
             

          	
             

          	 	
             

          	
             

          

  

  

  

  
    
      

  

  EXHIBIT B

  CIBUS ENTITIES

  

  

  CIBUS INTERNATIONAL GP, LTD

  CIBUS INTERNATIONAL, L.P.

  CIBUS NETHERLANDS PARTNERS, LTD

  CIBUS NETHERLANDS HOLDING COÖPERATIEF U.A.

  CIBUS EUROPE B.V.

  INCIMA NETHERLANDS HOLDING COÖPERATIEF U.A.

  INCIMA EUROPE B.V.

  CIBUS EUROPE LTD

  CIBUS US LLC

  CIBUS CANADA INC.

  INCIMA B.V.

  INCIMA IPCO B.V.

  INCIMA US LLC

  

  

  
    
      

  

  EXHIBIT C

  WARRANT CONSIDERATION REPORT

  
    

    

  

  
    (A)          Quarterly Period: [_____________]

    

    

    (B)          Participation Rate: [____________]

    

    

  

  
    

    

  

  	
          
            Agreement

          

        	
          
            Product Sales Revenues

          

        	
          
            License Fees

          

        	
          
            Distribution Fees

          

        	
          
            Milestone Payments

          

        	
          
            Maintenance Payments

          

        	
          
            Royalties

          

        	
          
            Other payments

          

        	
          
            Total Subject Revenues (C)

          

        	
          
            Warrant Purchase Payment

             

            (B) x (C)

          

        
	
          
            [Partner agreement #1]

          

        	 	 	 	 	 	 	 	 	 
	
          
            [Partner agreement #2]

          

        	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	
          
            TOTALSExhibit 10.3

    

     

    

    CONFIDENTIAL TREATMENT REQUESTED BY CIBUS GLOBAL, LTD.—CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION

     

          

    INTELLECTUAL PROPERTY SECURITY AGREEMENT

     

          

    This Intellectual Property Security Agreement (this “Agreement”)

        is made as of December 31, 2014, by and between each of the entities listed on Schedule A attached hereto (each, a “Grantor” and collectively, the “Grantors”) and Rory Riggs, an individual (in his capacity as Seller Representative under the Exchange Agreement referenced below) (“Secured Party”).

     

          

    RECITALS

     

      

    A.          Pursuant to that certain Warrant Transfer and Exchange Agreement of even
        date herewith between Cibus Global, Ltd. (“Cibus”), the Persons and Entities listed as Sellers therein, and Secured Party in its capacity as the Seller Representative
        thereunder, (as such agreement may from time to time be amended, restated, supplemented or otherwise modified, the “Exchange Agreement”), the Sellers have agreed to sell
        Subject Warrants to Cibus in exchange for an interest in certain Subject Revenues of Cibus.  All capitalized terms used herein without definition shall have the meanings ascribed to them in the Exchange Agreement.

     

      

    B.          The purchase and sale of the Subject Warrants under the Exchange Agreement
        is conditioned on, among other things, the grant by each of the Grantors to Secured Party on behalf of the Sellers of a security interest in certain property of the Grantors whether presently existing or hereafter acquired.  To that end, each of
        the Grantors is executing in favor of Secured Party this Agreement, granting a security interest in all Collateral (as defined below).

     

      

    NOW, THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:

     

      

    1.          Grant of
            Security Interest.  As collateral security for the prompt and complete payment and performance of all of Cibus’ present or future obligations under the Exchange Agreement, each Grantor hereby grants a security interest and mortgage
        to Secured Party (in its capacity as the Seller Representative), as security, in and to such Grantor’s entire right, title and interest in, to and under the following intellectual property, now owned or hereafter acquired by such Grantor or in
        which such Grantor now holds or hereafter acquires any interest (all of which shall collectively be called the “Collateral” for purposes of this Agreement):

     

      

    (a)          Any and all copyrights, whether registered or unregistered, held pursuant
        to the laws of the United States, any State thereof or of any other country or jurisdiction; all registrations, applications and recordings in the United States Copyright Office or in any similar office or agency of the United States, and State
        thereof or any other country or jurisdiction; all continuations, renewals, or extensions thereof; and any registrations to be issued under any pending applications, including without limitation those set forth on Exhibit A attached hereto (collectively, the “Copyrights”);

    
      1

      
        

    

    (b)          All letters patent of, or rights corresponding thereto in, the United
        States or any other country or jurisdiction, all registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto in, the United States or any other country or jurisdiction, including, without
        limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or jurisdiction;  all reissues, continuations,
        continuations-in-part or extensions thereof;  all petty patents, divisionals, and patents of addition; and all patents to be issued under any such applications, including without limitation the patents and patent applications set forth on Exhibit B attached hereto (collectively, the “Patents”);

     

      

    (c)          All trademarks, trade names, corporate names, business names, trade
        styles, service marks, logos, other source or business identifiers, prints and labels on which any of the foregoing have appeared or appear, designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all
        registrations and recordings thereof, and any applications in connection therewith, including, without limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the
        United States, any State thereof or any other country or jurisdiction or any political subdivision thereof, and  reissues, extensions or renewals thereof, and the entire goodwill of the business of Grantor connected with and symbolized by such
        trademarks, including without limitation those set forth on Exhibit C attached hereto (collectively, the “Trademarks”);

     

      

    (d)          trade secrets, including, without limitation, patentable inventions, any
        and all product formulae, manufacturing techniques, product specifications, protocols, processes financial information, computer data and programs, and marketing and business plans, and all rights corresponding to any of the foregoing throughout
        the world (collectively, the “Trade Secrets”);

     

      

    (e)          Any and all claims for damages by way of past, present and future
        infringement of any of the rights included above, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the intellectual property rights identified above;

     

      

    (f)          All licenses or other rights to use any of the Copyrights, Patents,
        Trademarks or Trade Secrets, and all license fees, income, royalties and payments arising from such use to the extent permitted by such license or rights;

     

      

    (g)          All amendments, renewals and extensions of any of the Copyrights,
        Trademarks or Patents; and

    
      2

      
        

    

    (h)          All cash and non-cash proceeds and products of the foregoing, including
        without limitation all payments under insurance or any indemnity or warranty payable in respect of any of the foregoing.

     

        

    Notwithstanding the foregoing, the term “Collateral” shall not include:  (a) “intent-to-use” trademarks at all times prior to the first use thereof, whether by the actual use thereof in
          commerce, the recording of a statement of use with the United States Patent and Trademark Office or otherwise, but only to the extent the granting of a security interest in such “intent to use” trademarks would be contrary to applicable law or
          (b) any contract, instrument or chattel paper in which such Grantor has any right, title or interest if and to the extent such contract, instrument or chattel paper includes a provision containing a restriction on assignment such that the
          creation of a security interest in the right, title or interest of such Grantor therein would be prohibited and would, in and of itself, cause or result in a default thereunder enabling another person party to such contract, instrument or chattel
          paper to enforce any remedy with respect thereto; provided, however, that the foregoing exclusion shall not apply if (i) such prohibition has been waived or such other person has otherwise
          consented to the creation hereunder of a security interest in such contract, instrument or chattel paper, or (ii) such prohibition would be rendered ineffective pursuant to Sections 9-407(a) or 9-408(a) of the Code, as applicable and as then in
          effect in any relevant jurisdiction, or any other applicable law (including any bankruptcy codes or principles of equity); provided further that immediately upon the ineffectiveness, lapse or
          termination of any such provision, the term “Collateral” shall include, and such Grantor shall be deemed to have granted a security interest in, all its rights, title and interests in and to such contract, instrument or chattel paper as if such
          provision had never been in effect; and provided further that the foregoing exclusion shall in no way be construed so as to limit, impair or otherwise affect Secured Party’s unconditional continuing
          security interest in and to all rights, title and interests of such Grantor in or to any payment obligations or other rights to receive monies due or to become due under any such contract, instrument or chattel paper and in any such monies and
          other proceeds of such contract, instrument or chattel paper.

    

    

    2.          Representations,

            Warranties and Covenants.  Each Grantor represents, warrants, covenants and agrees for and on behalf of itself on and as of the date hereof as follows:

     

      

    (a)          Such Grantor is now the sole owner of the Collateral, except for Permitted
        Liens;

     

      

    (b)          Such Grantor's chief executive office and the office where the Grantor
        keeps its books and records relating to the Collateral, is located at the address set forth on Schedule A attached hereto.

     

      

    (c)          Upon (i) the delivery to Secured Party of any Collateral consisting of
        instruments or other collateral possession of which is required for perfection, (ii) the filing of proper financing statements on form UCC-1 (or other comparable form) in the appropriate filing offices, (iii) the filing of any notices of a security
        interest in the appropriate filing offices, and (iv) the taking by the Secured Party of any other actions that may be required at law for the purpose of perfecting a security interest in intellectual property,  the Secured Party will obtain a
        valid, enforceable first priority perfected lien and security interest in the Collateral except to the extent of any Permitted Liens permitted hereby or under the Exchange Agreement.

    
      3

      
        

    

    (d)          During the term of this Agreement, such Grantor will not create, incur,
        assume or permit to exist any Lien on any of the Collateral, except for (i) the security interest granted under the Exchange Agreement and this Agreement, (ii) Permitted Licenses to Permitted Licensses in accordance with Section 5.12 of the
        Exchange Agreement, (iii) Permitted Liens and (iv) security interests which are subordinated to the security interests granted by this Agreement and the Exchange Agreement.  Furthermore, during the term of this Agreement, such Grantor will not
        transfer any interest in the Collateral except as set forth in the Exchange Agreement;

     

      

    (e)          To its knowledge, each of the issued Patents are in full force and effect
        and have not elapsed, expired or otherwise terminated.  No Grantor has received any written notice relating to the lapse, expiration or other termination of any of the issued Patents, or alleging that, and such Grantor has not received any written
        legal opinion that alleges that an issued Patent is invalid or unenforceable;

     

      

    (f)          Upon request by Secured Party, such Grantor shall deliver to Secured Party
        within thirty (30) days of the last day of each fiscal quarter, a report signed by such Grantor, in form reasonably acceptable to Secured Party, listing any applications or registrations that such Grantor has made or filed in respect of any
        patents, copyrights or trademarks and the status of any outstanding applications or registrations.  Such Grantor shall promptly advise Secured Party of any material change in the composition of the Collateral, including but not limited to any
        subsequent ownership right of the Grantor in or to any Trademark, Patent or Copyright not specified in this Agreement;

     

      

    (g)          Such Grantor shall, from time to time, execute and file such other
        instruments, and take such further actions as Secured Party may reasonably request from time to time to perfect or continue the perfection of Secured Party’s interest in the Collateral.  Such Grantor shall give Secured Party notice of all such
        applications or registrations; and

     

      

    (h)          Such Grantor shall not enter into any agreement that would materially
        impair or conflict with such Grantor’s obligations hereunder without Secured Party’s prior written consent, which consent shall not be unreasonably withheld or delayed.  Such Grantor shall not permit the inclusion in any material contract to which
        it becomes a party of any provisions that would prevent the creation of a security interest in such Grantor’s rights and interests in any property included within the definition of the Collateral acquired under such contracts.

     

      

    3.          Further
            Assurances; Attorney in Fact.

     

      

    (a)          On a continuing basis, each Grantor will make, execute, acknowledge and
        deliver, and file and record in the proper filing and recording places in the United States, all such instruments, including appropriate financing and continuation statements and collateral agreements and filings with the United States Patent and
        Trademark Office and the Register of Copyrights, and take all such action as may reasonably be deemed necessary or advisable, or as reasonably requested by Secured Party, to perfect Secured Party’s security interest in all Copyrights, Patents and
        Trademarks and otherwise to carry out the intent and purposes of this Agreement, or for assuring and confirming to Secured Party the grant or perfection of a security interest in all Collateral.

    
      4

      
        

    

    (b)          Each Grantor hereby irrevocably appoints Secured Party as such Grantor’s
        attorney‐in‐fact, with full authority in the place and stead of such Grantor and in the name of such Grantor, from time to time in Secured Party’s discretion, to take any action and to execute any instrument which Secured Party may deem necessary
        or advisable to accomplish the purposes of this Agreement, including (i) to modify, in its sole discretion, this Agreement without first obtaining such Grantor’s approval of or signature to such modification by amending Exhibits A, B and C, hereof, as
        appropriate, to include reference to any right, title or interest in any Copyrights, Patents or Trademarks acquired by such Grantor after the execution hereof or to delete any reference to any right, title or interest in any Copyrights, Patents or
        Trademarks in which such Grantor no longer has or claims any right, title or interest, (ii) to file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the
        signature of Grantor where permitted by law, and (iii) after the occurrence and during the continuance of an Event of Default (as defined below), to transfer the Collateral into the name of Secured Party or a third party to the extent permitted
        under the Code.

     

      

    4.          Events of
            Default.  The occurrence of any of the following shall constitute an “Event of Default” under this Agreement:

     

      

    (a)          Subject to the provisions of Section 5.4 of the Exchange Agreement, Cibus
        commits a Payment Breach under the Exchange Agreement.

     

      

    (b)          Cibus materially breaches any warranty or agreement made by Cibus under
        the Exchange Agreement and, as to any breach that is capable of cure, Cibus fails to cure such breach within sixty (60) days of the sooner to occur of such Cibus’ of notice of such breach from Secured Party or the date on which such breach first
        becomes known to a responsible officer of Cibus.

     

      

    (c)          Any Grantor materially breaches any warranty or agreement made by such
        Grantor in this Agreement and, as to any breach that is capable of cure, such Grantor fails to cure such breach within sixty (60) days of the sooner to occur of such Grantor’s receipt of notice of such breach from Secured Party or the date on which
        such breach first becomes known to a responsible officer of such Grantor.

     

      

    (d)          Any Grantor shall (i) voluntarily terminate operations or apply for or
        consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of the Grantor of all or a substantial part of the assets of the Grantor, (ii) admit in writing its inability to pay debts as the debts
        become due, (iii) make a general assignment for the benefit of its creditors, (iv) commence a voluntary case under the Federal Bankruptcy Code (as now or hereafter in effect), (v) file a petition seeking to take advantage of any other law relating
        to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts, (vi) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in an involuntary case under the
        Federal Bankruptcy Code or applicable state bankruptcy laws or (vii) take any corporate action for the purpose of effecting any of the foregoing; or

    
      5

      
        

    

    (e)          Without the Grantor’s application, approval or consent, a proceeding shall
        be commenced, in any court of competent jurisdiction, seeking in respect of the Grantor: the liquidation, reorganization, dissolution, winding-up, or composition or readjustment of debt, the appointment of a trustee, receiver, liquidator or the
        like relief in respect of the Grantor or all or any substantial part of the assets of the Grantor, or other like relief in respect of the Grantor` under any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or
        adjustment of debts; and, if the proceeding is being contested in good faith by the Grantor, the same shall continue undismissed, or unstayed and in effect for any period of 90 consecutive days, or an order for relief against the Grantor shall be
        entered in any case under applicable bankruptcy laws.

     

      

    5.          Remedies. 

        Upon the occurrence of any Event of Default, the Secured Party may at any time thereafter, at its option and, upon five (5) days written notice, exercise any or all of the following rights and remedies:

     

      

    (a)          collect, receive, appropriate, foreclose upon and/or sell or otherwise
        liquidate, and realize upon, the Collateral or any part thereof;

     

      

    (b)          exercise any or all of the rights and remedies granted to it under this
        Agreement or any other Transaction Document and take such other actions or proceedings as the Secured Party deems necessary or advisable to collect or enforce or to protect its interest in the Warrant Purchase Payments or the Collateral;

     

      

    (c)          enter, with or without process of law and without breach of the peace, any
        premises where the Collateral or the books and records of each applicable Grantor related thereto are or may be located, and without charge or liability to the Secured Party therefor seize and remove any tangible personal property evidencing the
        Collateral (and copies of the applicable Grantor's books and records in any way relating to the Collateral) from said premises and/or remain upon said premises and use the same (together with said books and records) for the purpose of collecting,
        preparing for sale and disposing of the Collateral;

     

      

    (d)          exercise any one or more of the rights and remedies accruing to the
        Secured Party under any applicable law, or as provided herein or in the Transaction Documents.  The Grantor recognizes that in the event it fails to perform, observe or discharge any of its obligations or liabilities under this Agreement, no remedy
        at law will provide adequate relief to the Secured Party, and each Grantor agrees that the Secured Party shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages; and

    
      6

      
        

    

    (e)          exercise any and all of the rights and remedies of a secured party under
        the Code or comparable statute in the applicable jurisdiction, including, without limitation, the right to exercise all of the following rights and remedies:

    

    

    
      
        	

              	(i)	
                declare the entire right, title and interest of the Grantor in and to each of the Trademarks, together with all trademark rights and rights of protection to the same,
                    vested, in which event such rights, title and interest shall immediately vest, in the Secured Party;

              

      

    

    

    

    
      
        	

              	(ii)	
                declare the entire right, title and interest of the Grantor in and to each of the Patents and Copyrights vested, in which event such right, title and interest shall
                    immediately vest in the Secured Party;

              

      

    

    

    

    
      
        	

              	(iii)	
                to take and practice or use all or any portion of the Collateral;

              

      

    

    

    

    
      
        	

              	(iv)	
                to sell, license, or otherwise dispose of any or all of the Collateral, including the goodwill of the Grantor’s or Cibus’ business symbolized by the Trademarks and the
                    right to carry on the business and use the assets of the Grantor and Cibus in connection with which the Trademarks have been used (excluding, in each case, the Nucelis business with respect to the Grantor and Cibus);

              

      

    

    

    

    
      
        	

              	(v)	
                to apply the proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the obligations of Cibus under the Exchange Agreement; and/or

              

      

    

    

    

    
      
        	

              	(vi)	
                to direct the Grantor to refrain from practicing or using the Collateral in any manner whatsoever other than in connection with the Grantor’s or Cibus’ Nucelis business,
                    directly or indirectly, and, if requested by the Secured Party, change the Grantor’s corporate name to eliminate therefrom any use of any Trademark, as applicable, and execute such other and further documents that the Secured Party may
                    request to further confirm this and to transfer ownership of the Collateral and any associated goodwill to the Secured Party.

              

      

    

    
      7

      
        

    

    Any sale or other disposition of the Collateral may be at public or private sale upon such terms and in such manner as the Secured Party
        deems advisable, having due regard to compliance with any statute or regulation which might affect, limit, or apply to the Secured Party's disposition of the Collateral.  Unless otherwise permitted by law (in which event the Secured Party shall
        provide the Grantor with such notice as may be practicable under the circumstances), the Secured Party shall give the Grantor at least the greater of the minimum notice required by law or seven (7) days prior written notice of the date, time, and
        place of any proposed public sale of, and of the date after which any private sale or other disposition, of the Collateral, or any portion thereof, is to be made.

    

    

    Such options may be exercised individually, sequentially or in concert, all such remedies being cumulative, the exercise of one not being deemed a waiver of
        any other or a cure of any Event of Default.  An Event of Default shall not be deemed to be in existence or to be continuing for any purpose of this Agreement if the Secured Party pursuant to this Agreement shall have waived such event in writing
        or stated in writing that the same has been cured to its reasonable satisfaction, but no such waiver shall extend to or affect any subsequent Event of Default or impair any rights of the Secured Party upon the occurrence thereof.

    

    

    Additionally, after the occurrence of an Event of Default, the Secured Party shall have the right, but not the duty, to intervene or otherwise participate in
        any legal or equitable proceeding which, in the Secured Party’s sole judgment, affects the Collateral or any of the rights created or secured by this Agreement.

    

    

    6.          Liability
            for Collateral.  So long as the Secured Party employs reasonable practices regarding the safekeeping of the Collateral in the possession or under the control of the Secured Party, (a) the Secured Party shall not be liable or
        responsible for: (i) the safekeeping of the Collateral, (ii) any loss or damage to the Collateral, (iii) any diminution in value of the Collateral or (iv) any act or default if any carrier, warehouseman, bailee or other Person and (b) the Grantors
        shall bear all risk of loss, damage or destruction of the Collateral.

     

      

    7.          No
            Waiver, Remedies Cumulative.  The Secured Party’s failure, at any time or times, to require strict performance by any of the Grantors of any provision of this Agreement shall not waive, affect or diminish any right of the Secured
        Party thereafter to demand strict performance and compliance herewith.  No waiver of any of Secured Party’s rights or any of the Grantors’ obligations hereunder shall be effective unless signed by the Secured Party and then is only effective for
        the specific instance and purpose for which it is given.  The Secured Party’s rights and remedies under this Agreement are cumulative.  The Secured Party has all rights and remedies provided under the Code and any applicable law, by law, or in
        equity.  The Secured Party’s delay in exercising any remedy is not a waiver, election or acquiescence.

     

      

    8.          Amendments. 

        This Agreement may be amended only by a written instrument signed by Cibus and Secured Party, except for amendments permitted under Section 3 hereof to be made by Secured Party alone.  Any amendment to this Agreement made in accordance with the
        foregoing shall be binding upon all parties to this Agreement.

     

      

    9.          Governing
            Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of
        any other jurisdiction.

    
      8

      
        

    

    10.        Counterparts. 

        This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute the same instrument.  Signatures delivered by facsimile or electronic transmission shall have the same
        effect as original signatures.

    

    

    

    

    [Signature Pages Follow]

    

    

    
      9

      
        

    

    IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.

     

      

    	 	
            GRANTORS:

          
	
            Address of Grantor:

          	
            Cibus Global, Ltd.

          
	
            See Schedule A

          	
            By:

          	/s/ Peter Beetham
	 	Name:	Peter Beetham, Ph.D.
	 	Title:	President
                & Chief Executive Officer
	 	 	 
	
            Address of Grantor:

          	
            Cibus International GP, Ltd.

          
	
            See Schedule A

          	
            By:          

            

          	 /s/ Gerard C. Pilon   

          
	 	Name:	 Gerard C. Pilon, Ph.D. 

          
	 	Title:	 Corporate Representative 

          
	 	 	 
	
            Address of Grantor:

          	
            Cibus International, L.P.

          
	
            See Schedule A

          	
            By:     

            

          	 /s/ Gerard C. Pilon   

          
	 	Name:	 Gerard C. Pilon, Ph.D.  

          
	 	Title:	 Corporate Representative
	 	 	 
	
            Address of Grantor:

          	
            Cibus Netherlands Partners, Ltd.

          
	
            See Schedule A

          	
            By:  

          	  /s/ Peter
              Beetham      

          
	 	Name:	 Peter Beetham, Ph.D.
	 	Title:	 President
                & Chief Executive Officer
	 	 	 
	
            Address of Grantor:

          	
            Cibus Netherlands Holding Cooperatif U.A.

          
	
            See Schedule A

          	
            By:         

            

          	 /s/ Gerard C. Pilon 

          
	 	Name:	 Gerard C. Pilon, Ph.D
	 	Title:	 Director
	 	 	 

    

    [SIGNATURE PAGE TO IP SECURITY AGREEMENT]

    
      
        

    

    	
            Address of Grantor:

          	
            Incima Europe B.V.

          
	
            See Schedule A

          	
            By:   

            

          	 /s/ Gerard C. Pilon  

          
	 	Name:	 Gerard C. Pilon, Ph.D.   

          
	 	Title:	 Director  

          
	 	 	 
	
            Address of Grantor:

          	
            Cibus Europe Ltd.

          
	
            See Schedule A

          	
            By:         

            

          	 /s/ Gerard C. Pilon 

          
	 	Name:	 Gerard C. Pilon, Ph.D.  

          
	 	Title:	 Director 

          
	 	 	 
	
            Address of Grantor:

          	
            Cibus US LLC

          
	
            See Schedule A

          	
            By:  

          	  /s/ Peter
              Beetham    

          
	 	Name:	 Peter Beetham, Ph.D.    

          
	 	Title:	 President
                & Chief Executive Officer
	 	 	 
	
            Address of Grantor:

          	
            Cibus Canada Inc.

          
	
            See Schedule A

          	
            By: 

              

          	 /s/ Peter Beetham
	 	Name:	 Peter Beetham, Ph.D.    

          
	 	Title:	 President
                & Chief Executive Officer
	 	 	 
	
            Address of Grantor:

          	
            Incima B.V.

          
	
            See Schedule A

          	
            By: 

          	 /s/ Greg Gocal
	 	Name:	 Greg Gocal, Ph.D.  

          
	 	Title:	 Senior Vice
                President Research and Development
	 	 	 

    

    [SIGNATURE PAGE TO IP SECURITY AGREEMENT]

    
      
        

    

    	
            Address of Grantor:

          	
            Incima IPCO B.V.

          
	
            See Schedule A

          	
            By: 

          	 /s/ Greg Gocal    

          
	 	Name:	 Greg Gocal, Ph.D. 

          
	 	Title:	 Senior Vice
                President Research and Development
	 	 	 
	
            Address of Grantor:

          	
            Incima US LLC

          
	
            See Schedule A

          	
            By: 

          	 /s/ Greg Gocal    

          
	 	Name:	 Greg Gocal, Ph.D.  

          
	 	Title:	 Senior Vice
                President Research and Development
	 	 	 
	 	 	 

    

    

    

    

    	 	
            SECURED PARTY:

          
	
            Address of Secured Party:

          	
            RORY RIGGS

          
	c/o Balfour, LLC	/s/ Rory Riggs

          
	
            110 East 59th St.

            33rd Floor

            New York, NY 10022 

            

          	
              

            

          	 
	 	 	 
	 	 	 

    
      [SIGNATURE PAGE TO IP SECURITY AGREEMENT]

    

    
      
        

    

    

    

    SCHEDULE A

    

    

    GRANTORS

    

    

    	
            Name of Grantor

          	
            Jurisdiction or Organization

          	
            Address 

            

          
	
            Cibus Global, Ltd.

          	
            British Virgin Islands

          	
            Nemours Chambers

            PO Box 3170

            Road Town, Tortola, VG 1110

             

          
	
            Cibus International GP, Ltd.

          	
            British Virgin Islands

          	
            Nemours Chambers

            PO Box 3170

            Road Town, Tortola, VG 1110

             

          
	
            Cibus International, L.P.

          	
            British Virgin Islands

          	
            Nemours Chambers

            PO Box 3170

            Road Town, Tortola, VG 1110

             

          
	
            Cibus Netherland Partners, Ltd.

             

          	
            British Virgin Islands

          	
            Nemours Chambers

            PO Box 3170

            Road Town, Tortola, VG 1110

             

          
	
            Cibus Netherlands Holding Cooperatif U.A.

          	
            The Netherlands

          	
            Goessestraatweg 19

            4421 AD Kapelle

             

          
	
            Cibus Europe B.V.

          	
            The Netherlands

          	
            Goessestraatweg 19

            4421 AD Kapelle

             

          
	
            Incima Netherlands Holding Cooperatif U.A.

          	
            The Netherlands

          	
            Goessestraatweg 19

            4421 AD Kapelle

             

          
	
            Incima Europe B.V.

          	
            The Netherlands

          	
            Goessestraatweg 19

            4421 AD Kapelle

             

          
	
            Cibus Europe Ltd.

          	
            The United Kingdom

          	
            Salt Quay House

            4 North East Quay

            Sutton Harbor

            Plymouth PL4 0BN

             

          
	
            Cibus US LLC

          	
            Delaware, USA

          	
            6455 Nancy Ridge Drive,

                Suite 100

                San Diego, CA 92121

             

          
	
            Cibus Canada Inc.

          	
            Canada

          	
            1700-360 Main Street

            Winnipeg, Manitoba R3C 3Z3

             

          
	
            Incima B.V.

          	
            Curacao

          	
            Kaya W.F.G. (Jombi)

            Mensing 14, 2nd Floor

            Willemstad

             

          
	
            Incima IPCO B.V.

          	
            Curacao

          	
            Kaya W.F.G. (Jombi)

            Mensing 14, 2nd Floor

            Willemstad

             

          
	
            Incima US LLC

          	
            Delaware, USA

          	
            6455 Nancy Ridge Drive,

                Suite 100

                San Diego, CA 92121

             

          

    

    

    
      
        

    

    EXHIBIT A

    

    

    Copyrights

    

    

    None.

    

    

    	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

    

    
      
        

    

    EXHIBIT B

    

    

    Patents

    

    

    

    

    [***]

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [***] CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE COMMISSION

    

    

    
      
        

    

    

    

    EXHIBIT C

    

    

    Trademarks

    

    

    	
            Trademark

          	
            Country Code

          	
            Application No. /

                Patent No.

          	
            Status

          
	 	 	 	 
	
            SU Canola (Stylized and/or with design)

          	
            US

          	
            86/447,539

          	
            Pending

          
	
            SU Canola (Standard Characters)

          	
            US

          	
            86/447,537

          	
            Pending

          
	
            Cibus (Stylized and/or with design)

          	
            US

          	
            86/447,534

          	
            Pending

          
	
            Cibus (Standard Characters)

          	
            US

          	
            86/447,529

          	
            Pending

          
	
            RTDS

          	
            US

          	
            Not yet filed

          	
            Application Filing in Progress

          
	
            Nucelis

          	
            US

          	
            Not yet filed

          	
            Application Filing in Progress

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