Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

OMNIBUS 
 AMENDMENT NO.
14 TO 
 RECEIVABLES LOAN AGREEMENT 

AMENDMENT NO. 6 TO 
 SALE
AND CONTRIBUTION AGREEMENT 
 This OMNIBUS AMENDMENT NO. 14 TO RECEIVABLES LOAN AGREEMENT AND AMENDMENT NO. 6 TO SALE AND CONTRIBUTION
AGREEMENT (this “Amendment”), effective as of April 22, 2020 (the “Effective Date”), is executed by and among HILTON GRAND VACATIONS TRUST I LLC, a Delaware limited liability company (together with its
successors and assigns, the “Borrower”), HILTON RESORTS CORPORATION, a Delaware corporation (the “Seller”), the financial institutions signatory hereto as Managing Agents, the financial institutions signatory hereto
as Conduit Lenders, the financial institutions signatory hereto as Committed Lenders, BANK OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Securities
Intermediary and Paying Agent. Capitalized terms used, but not otherwise defined herein, shall have the meanings ascribed thereto in the “Receivables Loan Agreement” (defined below). 

WITNESSETH: 
 WHEREAS, the
Borrower, the Managing Agents party thereto, the Administrative Agent, Wells Fargo Bank, National Association, as Securities Intermediary and Paying Agent, the Conduit Lenders party thereto, and the Committed Lenders party thereto are parties to
that certain Receivables Loan Agreement dated as of May 9, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Loan Agreement”); 

WHEREAS, the Borrower and the Seller are party to that certain Sale and Contribution Agreement, dated as of May 9, 2013 (as amended,
restated, supplemented or otherwise modified from time to time, the “Sale and Contribution Agreement”); 
 WHEREAS, as
provided herein, the parties hereto have agreed to amend certain provisions of the Receivables Loan Agreement and the Sale and Contribution Agreement, each as further described below; 

NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1.
Amendment to the Receivables Loan Agreement. Effective as of the Effective Date, and subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Receivables Loan Agreement is hereby amended as follows: 

1.1    Section 1.01 is hereby amended by amending and restating the definitions of “Delinquency Ratio”,
“Securitized Portfolio” and “Securitized Portfolio Delinquency Level” in their entirety as follows: 

“Delinquency Ratio” means, for any Collection Period, the ratio, expressed as a percentage, computed by dividing (i) the
aggregate Timeshare Loan Balances of all Pledged Timeshare Loans that were Over Sixty-Day Delinquent Timeshare Loans as of the last day of such Collection Period and were not substituted for or repurchased
prior to the related Distribution Date (with the outstanding principal balance of each such Pledged Timeshare Loan determined as of the last day of the Collection Period in which such Pledged Timeshare Loan became an Over Sixty-Day Delinquent Timeshare Loan) by (ii) the aggregate Timeshare Loan Balances of all Pledged Timeshare Loans as of the last day of such Collection Period. 

 “Securitized Portfolio” shall mean, as of any date (including as of any
prior Distribution Dates on or after April 25, 2019), all timeshare loans included in the Collateral or financed by any special purpose entity that is wholly-owned by HRC or for which HRC is acting as the sponsor (within the meaning of
Regulation AB) thereof, and which satisfy each of the following three clauses: (A) originated by the Servicer or an Affiliate thereof, (B) which are serviced by the Servicer and (C) the related property for which is managed by HRC or
an affiliate thereof (including the timeshare loans in all term issuances, all warehouse facilities and other term securitization facilities that are outstanding as of such date). 

“Securitized Portfolio Delinquency Level” shall mean, for any Collection Period, the quotient (expressed as a percentage),
computed by dividing (i) the sum of all Timeshare Loan Balances of all Timeshare Loans included in the Securitized Portfolio that were Over-Sixty Day Delinquent Timeshare Loans as of the last day of such Collection Period (exclusive of
Timeshare Loans that became Defaulted Timeshare Loans on or before the last day of such Collection Period) (with the outstanding principal balance of each such Timeshare Loan determined as of the last day of the Collection Period in which such
Timeshare Loan became an Over-Sixty Day Delinquent Timeshare Loan) by (ii) the aggregate Timeshare Loan Balance of all Timeshare Loans in the Securitized Portfolio on the last day of such Collection Period; provided, that for the April
2020, May 2020, June 2020, July 2020, August 2020 and September 2020 Collection Periods, clause (i) above shall not include the Timeshare Loan Balances of any Timeshare Loans for which the related seller has exercised its option, if any, to
repurchase or substitute such Timeshare Loan in accordance with the related transaction documents. 
 1.2    Section
1.01 is hereby amended by adding the following definition in the appropriate alphabetical order: 
 “Over Sixty-Day Delinquent Timeshare Loan/Defaulted Timeshare Loan” means an Over Sixty-Day Delinquent Timeshare Loan or a Defaulted Timeshare Loan. 

1.3    Section 5.02 is hereby amended by adding the following at the end of the section: 

“(h)    Securitized Portfolio. On a quarterly basis, promptly, but in no event more than
forty-five (45) days after the end of each fiscal quarter, a report reflecting the various Securitized Portfolio delinquency ratios, calculated as follows: 
  

	 	(i)	 the percentage equivalent of a fraction (A) the numerator of which is equal to the sum of all Timeshare
Loan Balances of all Timeshare Loans included in the Securitized Portfolio that were more than 30 days but less than 91 days delinquent on the last day of the related fiscal quarter and (B) the denominator of which is equal to the aggregate
Timeshare Loan Balance of all Timeshare Loans in the Securitized Portfolio on the last day of such fiscal quarter. 

  
 2 

	 	(ii)	 the percentage equivalent of a fraction (A) the numerator of which is equal to the sum of all Timeshare
Loan Balances of all Timeshare Loans included in the Securitized Portfolio that were 91 days or more but less than 121 days delinquent on the last day of the related fiscal quarter and (B) the denominator of which is equal to the aggregate
Timeshare Loan Balance of all Timeshare Loans in the Securitized Portfolio on the last day of such fiscal quarter. 

  

	 	(iii)	 the percentage equivalent of a fraction (A) the numerator of which is equal to the sum of all Timeshare
Loan Balances of all Timeshare Loans included in the Securitized Portfolio that were 121 or more days delinquent on the last day of the related fiscal quarter and (B) the denominator of which is equal to the aggregate Timeshare Loan Balance of
all Timeshare Loans in the Securitized Portfolio on the last day of such fiscal quarter. 

 (provided, that the
requirements of this Section 5.02(h) with respect to the delivery of the delinquency ratios shall be deemed satisfied by publicly filing HGVI’s Form 10-Q for such fiscal quarter with the Securities
and Exchange Commission, and such delinquency ratios shall be deemed to have been delivered to the Administrative Agent under this Section 5.02(h) on the date such Form 10-Q has been posted on the SEC
website accessible through http://www.sec.gov/edgar/searchedgar/webusers.htm or such successor webpage of the SEC thereto).” 
 SECTION
2.    Amendment to the Sale and Contribution Agreement. Effective as of the Effective Date, and subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Sale and Contribution
Agreement is hereby amended as follows: 
 2.1    Section 2.7(c) is hereby amended and restated in its entirety as
follows: 
 “(c)    Optional Repurchases and Substitutions of Timeshare Loans. 

(i)    If the Seller and any Obligor of a Transferred Timeshare Loan agree that such Obligor may
(A) reconvey and retransfer the related Timeshare Interest in satisfaction of such Transferred Timeshare Loan and simultaneously purchase a new Timeshare Interest or a new timeshare interest in a resort managed by the Seller or an Affiliate
thereof other than a Resort with the proceeds of a new timeshare loan or (B) acquire a new Timeshare Interest in addition to its existing Timeshare Interest and pay the purchase price for such new Timeshare Interest with the proceeds of a new
Timeshare Loan that is secured by one or more Mortgages relating to both such Timeshare Interests and combines the amount advanced in respect of such new Timeshare Interest with the amount owing by such Obligor under such Transferred Timeshare Loan
(each a 

  
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“Timeshare Loan Upgrade”), the Seller shall have the option, but not the obligation, to repurchase such Transferred Timeshare Loan prior to the Timeshare Loan Upgrade and either
pay the Repurchase Price for such Transferred Timeshare Loan by forwarding to the Collection Account the Repurchase Price for such Transferred Timeshare Loan or substituting a Qualified Substitute Timeshare Loan for such Transferred Timeshare Loan
and paying the related Substitution Shortfall Amount, if any, in accordance with Section 2.7(d) not later than the Distribution Date with respect to the Collection Period during which such Timeshare Loan Upgrade shall have occurred; provided,
however, that the Seller’s option to repurchase or substitute any Transferred Timeshare Loans subject to Timeshare Loan Upgrades pursuant to this Section 2(c)(i) will be limited on any date to an amount equal to 20.0% of the highest
aggregate Cutoff Date Loan Balances of all Transferred Timeshare Loans owned by the Purchaser since the Closing Date or, if a Refinancing shall have occurred, since the most recent Refinancing Date, less the aggregate Timeshare Loan Balances of all
Transferred Timeshare Loans that have become subject to Timeshare Loan Upgrades (as of the dates of such Timeshare Loan Upgrades) previously repurchased or substituted at the option of the Seller pursuant to this Section 2.7(c)(i) since the
Closing Date or, if a Refinancing shall have occurred, since the most recent Refinancing Date. 

(ii)    The Seller shall have the option, but not the obligation, on any date, to either
(i) repurchase an Over Sixty-Day Delinquent Timeshare Loan/Defaulted Timeshare Loan from the Purchaser for a price equal to the Repurchase Price therefor, or (ii) substitute one or more Qualified
Substitute Timeshare Loans for an Over Sixty-Day Delinquent Timeshare Loan/Defaulted Timeshare Loan and pay the related Substitution Shortfall Amount, if any, in accordance with Section 2.7(d), in each
case not later than the Distribution Date with respect to the Collection Period during which such Timeshare Loan became an Over Sixty-Day Delinquent Timeshare Loan/Defaulted Timeshare Loan; provided, however,
the aggregate Timeshare Loan Balances of all Over Sixty-Day Delinquent Timeshare Loans/Defaulted Timeshare Loans that may be repurchased and/or substituted pursuant to this Section 2.7(c)(ii) shall be
limited on any date to an amount equal to the amount by which (x) 20.0% of the highest aggregate Cutoff Date Loan Balances of all Transferred Timeshare Loans owned by the Purchaser since the Closing Date or, if a Refinancing shall have occurred,
since the most recent Refinancing Date, exceeds (y) the aggregate Timeshare Loan Balances of all Over Sixty-Day Delinquent Timeshare Loans/Defaulted Timeshare Loans (as of the date they became Over Sixty-Day Delinquent Timeshare Loans/Defaulted Timeshare Loans, as applicable) previously repurchased or substituted at the option of the Seller pursuant to this Section 2.7(c)(ii) since the Closing Date or, if
a Refinancing shall have occurred, the sum of (A) the aggregate Timeshare Loan Balances of all Over Sixty-Day Delinquent Timeshare Loans/Defaulted Timeshare Loans repurchased or substituted at the option
of the Seller since the most recent Refinancing Date and (B) the product of (1) the Remaining Percentage with respect to such Refinancing Date and (2) the amount calculated in accordance with this clause (y) on the Distribution
Date immediately preceding such Refinancing Date, after giving effect to any repurchases or substitutions of Over Sixty-Day Delinquent Timeshare Loans/Defaulted Timeshare Loans on or prior to such Distribution
Date.” 

  
 4 

 SECTION 3. Conditions Precedent. This Amendment shall become effective on the
Effective Date upon the satisfaction of the Administrative Agent having received counterparts of this Amendment executed by each of the parties hereto. 

SECTION 4. Representations, Warranties and Confirmations. The Borrower hereby represents and warrants that: 

4.1    It has the power and is duly authorized, including by all limited liability company action on its part, to execute
and deliver this Amendment. 
 4.2    This Amendment has been duly and validly executed and delivered by it. 

4.3    This Amendment, the Receivables Loan Agreement and the Sale and Contribution Agreement as amended hereby,
constitute legal, valid and binding obligations of the Borrower and are enforceable against the Borrower in accordance with their terms. 

4.4    Immediately prior, and after giving all effect, to this Amendment, the covenants, representations and warranties of
the Borrower set forth in the Receivables Loan Agreement are true and correct in all material respects as of the date hereof (except to the extent such representations or warranties relate solely to an earlier date and then as of such date). 

4.5    Immediately prior, and after giving all effect, to this Amendment, no event, condition or circumstance has occurred
and is continuing which constitutes a Servicer Termination Event, Unmatured Servicer Termination Event, Default or Event of Default. 

SECTION 5. Delivery of Executed Amendment. The Borrower covenants and agrees that it will deliver an executed copy of this Amendment to
the Servicer, the Paying Agent, the Backup Servicer and the Custodian promptly following the effectiveness hereof. 
 SECTION 6. Entire
Agreement. The parties hereto hereby agree that this Amendment constitutes the entire agreement concerning the subject matter hereof and supersedes any and all written and/or oral prior agreements, negotiations, correspondence, understandings
and communications. 
 SECTION 7. Effectiveness of Amendment. Except as expressly amended by the terms of this Amendment, all terms
and conditions of the Sale and Contribution Agreement, the Receivables Loan Agreement and the other Facility Documents, as applicable, shall remain in full force and effect and are hereby ratified and confirmed. This Amendment shall not operate as a
consent, waiver, amendment or other modification of any other term or condition set forth in the Sale and Contribution Agreement, the Receivables Loan Agreement and the other Facility Documents or any right, power or remedy of the Administrative
Agent or any Managing Agent or Lender under the Sale and Contribution Agreement, the Receivables Loan Agreement and the other Facility Documents, except as expressly modified hereby. Upon the effectiveness of this Amendment, each reference in the
Sale and Contribution Agreement or the Receivables Loan Agreement to “this Agreement”, “this Sale and Contribution Agreement” or “this Receivables Loan Agreement” or words of like import shall mean and be references to
the Sale and Contribution Agreement or the Receivables Loan Agreement, as applicable, as amended hereby, and each reference in any other Facility Document to the Sale and Contribution Agreement or Receivables Loan Agreement or to

  
 5 

 
any terms defined in the Sale and Contribution Agreement or Receivables Loan Agreement which are modified hereby shall mean and be references to the Sale and Contribution Agreement or Receivables
Loan Agreement, as applicable, or to such terms as modified hereby. 
 SECTION 8. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 9. Binding Effect. This
Amendment shall be binding upon and shall be enforceable by parties hereto and their respective successors and permitted assigns. 
 SECTION
10. Headings. The Section headings herein are for convenience only and will not affect the construction hereof. 
 SECTION 11.
Novation. This Amendment does not constitute a novation or termination of the Receivables Loan Agreement, the Sale and Contribution Agreement or any Facility Document and all obligations thereunder are in all respects continuing with only the
terms thereof being modified as provided herein. 
 SECTION 12. Counterparts. This Amendment may be executed in any number of
counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or
by electronic mail in a “.pdf” file shall be effective as delivery of a manually executed counterpart of this Amendment. 

SECTION 13. Fees, Costs and Expenses. The Borrower agrees to pay on demand all reasonable fees and out-of-pocket expenses of Morgan, Lewis & Bockius LLP, counsel for the Administrative Agent, incurred in connection with the preparation, execution and delivery of this Amendment and the other
instruments and documents to be delivered in connection herewith. 
 SECTION 14. Electronic Signatures.     This
Amendment shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means of (i) an original manual signature; (ii) a faxed, scanned, or photocopied manual
signature, or (iii) any other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures
law, including any relevant provisions of the UCC (collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic signature, shall for all purposes
have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied
manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. For the avoidance of doubt, original manual signatures shall be used for
execution or indorsement of writings when required under the UCC or other Signature Law due to the character or intended character of the writings. 

[Signature Pages Follow] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective authorized officers as of the date first above written. 
  

			
	HILTON GRAND VACATIONS TRUST I LLC,
	as Borrower
		
	By:	 	 /s/ Ben Loper

	Name:	 	Ben Loper
	Title:	 	Vice President & Treasurer
	
	HILTON RESORTS CORPORATION,
	as Seller
		
	By:	 	 /s/ Ben Loper

	Name:	 	Ben Loper
	Title:	 	Vice President & Treasurer

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

 
			
	BANK OF AMERICA, N.A.
	as Administrative Agent
		
	By:	 	 /s/ Carl W. Anderson

	Name:	 	Carl W. Anderson
	Title:	 	Managing Director
	
	BANK OF AMERICA, N.A.
	as a Committed Lender and a Managing Agent
		
	By:	 	 /s/ Carl W. Anderson

	Name:	 	Carl W. Anderson
	Title:	 	Managing Director

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

 
			
	DEUTSCHE BANK AG, NEW YORK BRANCH
	as a Committed Lender and a Managing Agent
		
	By:	 	 /s/ Robert Sannicandro

	Name:	 	Robert Sannicandro
	Title:	 	Managing Director
		
	By:	 	 /s/ Kai Ang

	Name:	 	Kai Ang
	Title:	 	Director

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

 
			
	BARCLAYS BANK PLC.
	as a Committed Lender and a Managing Agent
		
	By:	 	 /s/ Chin-Yong Choe

	Name:	 	Chin-Yong Choe
	Title:	 	Director
	
	SHEFFIELD RECEIVABLES COMPANY LLC,
	as a Conduit Lender
		
	By:	 	Barclays Bank PLC,
		 	as attorney-in-fact
		
	By:	 	 /s/ Chin-Yong Choe

	Name:	 	Chin-Yong Choe
	Title:	 	Director

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as a Committed Lender and a Managing Agent
		
	By:	 	 /s/ Leigh Poltrack

	Name:	 	Leigh Poltrack
	Title:	 	Director

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

 
			
	TRUIST BANK, successor by merger to SunTrust Bank,
	as a Committed Lender and a Managing Agent
		
	By:	 	 /s/ Ileana Chu

	Name:	 	Ileana Chu
	Title:	 	SVP

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment
No. 6 to Sale and Contribution Agreement] 

			
	Acknowledged and agreed:
	
	GRAND VACATIONS SERVICES LLC,
	as Servicer
		
	By:	 	 /s/ Mark Laurent

	Name:	 	Mark Laurent
	Title:	 	VP Portfolio Services

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment No. 6 to
Sale and Contribution Agreement] 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
	as Paying Agent and Securities Intermediary
		
	By:	 	 /s/ Jennifer C. Westberg

	Name:	 	Jennifer C. Westberg
	Title:	 	Vice President
	
	Acknowledged and Agreed:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
	as Backup Servicer and Custodian
		
	By:	 	 /s/ Jennifer C. Westberg

	Name:	 	Jennifer C. Westberg
	Title:	 	Vice President

 [Signature Page to Omnibus Amendment No. 14 to Receivables Loan Agreement and Amendment No. 6 to
Sale and Contribution Agreement]ex_183075.htm

Exhibit 10.1

 

**Information contained in portions of this Exhibit have been redacted because the Company has determined that such information (i) is not material and (ii) would likely cause competitive harm to the Company if it were to be publicly disclosed.  Information redacted from this Exhibit has been marked by the following [**].

 

 

Agreement # TG-042720-1

 

SUPPLY AGREEMENT

 

 

This Supply Agreement (this “Agreement”), effective as of April 22, 2020 (the “Effective Date”) by and between ImmuneCyte Life Sciences Inc., having its principal place of business at 185 Technology Dr. #150, Irvine, CA 92618 (“Supplier”), and ThermoGenesis Corp. having its principal place of business at 2711 Citrus Road, Rancho Cordova, CA 95742 (“Thermo”).

 

Supplier sells SARS-CoV-2(COVID-19) IgM/IgG Antibody Fast Detection Kit (Colloidal Gold). Thermo desires to have Supplier provide the Products listed on Exhibit A to this Agreement (“Products”) for use as Thermo’s own products intended for worldwide distribution. Thermo will apply for proper regulatory approval and purchase the Products from Supplier, and Supplier desires to sell Products to Thermo under the terms and subject to the conditions set forth herein. 

 

Supplier also wishes that, from time to time, Thermo distribute Product to Supplier customers. Thermo desires to distribute Product to Supplier’s customers and when doing so, Thermo will sell the product at the price stipulated by the Supplier and provide a commission back to the Supplier.

 

The parties hereto agree as follows:

 

1.     Supply Terms:

 

	 	1.1	Term:     The initial term of this Agreement shall be for a period of 1 (one) year commencing on the Effective Date and expiring on the first anniversary of such date (the “Initial Term”). The initial term shall be extended thereafter for additional successive one-year periods, unless any party notifies the others at least 30 days prior to the end of the then current term of its intent not to extend or of its intent to change pricing or other material terms of this Agreement and such change is not acceptable to the other parties (each, a “Renewal Term”, and together with the Initial Term, the “Term”).
	 	 	 
	 	
			1.2

				
			Field of Use: Thermo wishes to utilize the Products supplied for in vitro qualitative detection of IgM and IgG antibodies in human serum, plasma or whole blood.

			

 

	 	
			1.3

				
			Exclusivity: The Field of Use is exclusive to Thermo

			

 

 

 

 

	 	1.4	Purchase Volume:     During each contract year Thermo will provide a forecasted quantity of Products to be purchased per quarter and will update the forecast on a quarterly basis.
	 	 	 
	 	1.5	Price:     Thermo shall for each Product pay the per unit price set forth in Exhibit A for such Product as stipulated and agree upon between Thermo, and Supplier.
	 	 	 
	 	1.6	Invoices and Payments:      At the time of shipment of Products, Supplier shall invoice Thermo for the Products shipped to the location or locations designated by Thermo. Invoices will have 30 day terms; however due to the urgency of the receipt of kits, prepayment of the invoice may be required.
	 	 	 
	 	1.7	Timing and Delivery:     Product in Exhibit A to be available in the timetable as stated in the exhibit. Any delivery and shipping schedule are the best estimate possible based on conditions existing at the time of the order. Title and risk of loss shall pass to Thermo at receiving facility.
	 	 	 
	 	1.8	Supplier Performance:     Product is expected to arrive to Thermo on time as stated, due date, on the purchase order confirmation. All product will be shipped with the appropriate documentation and part markings. Supplier is expected to respond to requests within 24 hours and responds to urgent requests within 2 hours and is responsive to improvements in products and services.

 

	 	
			1.9

				
			Distribution: Thermo shall provide distribution of Product to Supplier’s customers directly from Thermo inventory. Thermo will sell Product at the price stipulated by the Supplier and provide a commission to the Supplier for product sold as set forth in Exhibit C.

			

 

2.     Quality, Warranties and Returns:

 

	 	2.1	Conformance to specifications:     Supplier warrants that, at the time of shipment by Supplier, all Products supplied hereunder will conform to the product description stated in Supplier’s product literature. In no event shall Supplier, however, be liable for any Product altered by someone other than Supplier or for a Product subjected to misuse, abuse, improper installation, application, operation, maintenance or repair, alteration, accident, or negligence in use, storage, transportation or handling. The warranties in this Agreement run solely to Thermo.
	 	 	 
	 	
			2.2

				
			Quality Control: Supplier shall maintain an objective quality program for all Goods and/or Services in accordance with any general specification set forth. Supplier shall, upon Thermo’s request, provide Thermo with a copy of Supplier’s quality program and supporting test documentation.

			

 

	 	
			2.3

				
			Right to Inspect: Thermo has the right to inspect and audit, at Suppliers plant or at Suppliers vendor’s or subcontractor’s plant, the goods and associated manufacturing processes. Thermo’s inspection and quality audit may be made at any time for any reason reasonably related to Product being supplied. Supplier will inform its vendors and subcontractors of Thermo’s right to inspect and audit and, if necessary, use all reasonable efforts to secure such rights for Thermo.

			

 

2

 

 

	 	2.4	Returns:     If Products do not conform to the warranty contained in Section 2.1 above, then Thermo shall, be entitled to return the nonconforming Products to Supplier, but only after having requested and received a return goods authorization number from Supplier and after affording Supplier, if Supplier so requests, the opportunity to inspect the Product alleged to be defective prior to its return. Supplier shall, at Supplier’s option, either replace the nonconforming Products or refund the purchase price of any such Product found to be nonconforming; provided, however, that (x) the foregoing shall be Thermo’s sole remedy with respect to such Products, (y) Thermo shall be entitled to such remedies only if written notice of such nonconformance is received by Supplier within 45 days of the date of Supplier’s invoice for the Product to which the claim relates and (z) Supplier’s liability with respect to Products which do not conform to such warranty shall always be limited to the purchase price paid by Thermo for such non-conforming Products.
	 	 	 
	 	2.5	Compliance with applicable laws and regulations:     Each of Supplier and Thermo warrants to the other that (a) its execution of this Agreement and consummation of the transactions contemplated hereby and its activities hereunder, including in the case of Supplier the Products, and in the case of Thermo its sale of Products incorporating the Products, conforms and shall conform in all material respects to all applicable laws, regulations and approvals; and (b) in the case of Supplier, to its knowledge, neither the manufacture or sale of the Products or any other activities required to be taken by Supplier hereunder or in conjunction hereto, and in the case of Thermo, to its knowledge, neither the manufacture or sale of products incorporating the Products, or any other activities required to be taken by Thermo hereunder or in conjunction hereto will involve any infringement of any existing patent, trademark, copyright or other intellectual property right, nor has any notice been received of any claimed infringement (including, without limitation, patent, trademark or copyright infringement) in connection thereto.
	 	 	 
	 	2.6	Warranty:     Supplier warrants that the Product will meet the Specifications at the time of delivery and until their expiration date. Failure of Product to perform for reasons other than manufacturing defects such as accident, misuse or failure to use product as intended is excluded from Warranty coverage.
	 	 	 
	 	2.7	Sole remedy:     The sole and exclusive remedies of Thermo in connection with this Agreement, including for breach by Supplier of the above warranties, shall be limited to the remedies provided in sections 2.2 and 2.4 above.
	 	 	 
	 	2.8	Limitation of Liability:     In no event shall Suppliers liability in connection with this Agreement include any special, indirect, incidental or consequential losses or damages or any rework or remanufacturing costs, or lost Product costs (other than the costs of the Product supplied by Supplier) nor exceed the payments received by Supplier under this Agreement, whether arising out of or in connection with the manufacture, packaging, delivery, storage, use, misuse, or non-use of the Products or any other cause whatsoever, even if Supplier shall have been advised of the possibility of such potential loss or damage. Any Product representations or warranties made by any person or entity, including employees or employee representatives of Supplier or Thermo, that are inconsistent or in excess of the Product representations or warranties contained herein shall be disregarded and shall not be binding upon Supplier or its third-party suppliers.

 

3

 

 

	 	2.9	Unauthorized representation:     Thermo has no authorization to make any representation, statement or warranty on behalf of Supplier relating to any Products sold hereunder. If Thermo nevertheless, does make any such unauthorized representation, statement or warranty, the sole responsibility and liability therefor shall be that of Thermo. Thermo hereby indemnifies Supplier for any losses or damages (including reasonable legal and other fees) suffered or incurred by Supplier in connection with or as a result of Thermo’s or its employees’ or agents’ activities hereunder, including their representations or warranties regarding the Products which are inconsistent with or in excess to the representations and warranties contained herein and their alteration of or misuse or improper use of the Products, their breaches of the representations, warranties or covenants contained in this Agreement, their possession or use of the Products, and their manufacture or sale or the use of Thermo products which incorporate or integrate the Products, including third party claims that the Thermo products which incorporate or integrate the Products infringe the intellectual property rights of such third party, provided, however, that Thermo shall not be obligated to indemnify Supplier hereunder to the extent the losses or damages are due to a defect in the Products (as supplied by Supplier) or the Products themselves (as supplied by Supplier) violating the intellectual property rights of the third party.

   

	
			3.

				
			Termination:

			

 

	 	3.1	Consequences of breach and rights to cure:     Either party has the right to terminate this Agreement upon material breach by the other party upon 60 days written notice. If, by its nature, the breach cannot be cured within said 60 days, and the breaching party is proceeding diligently to effect a cure of such breach, then this Agreement may not be terminated for an additional 60 days or until such time as the breaching party ceases to in good faith effect a cure, whichever is shorter.
	 	 	 
	 	 	In the event that Supplier discontinues manufacture of Product, Thermo shall have the right to purchase up to 24 months of Products (based on Thermo’s reasonable forecast of annual usage) at the then-current price, provided it delivers purchase orders within 45 days of receipt of Thermo’s notice and takes delivery of the Product as soon as it is produced.
	 	 	 
	 	3.2	Bankruptcy:     Either party may terminate this Agreement upon two days prior written notice to the other party if the other party (a) voluntary or involuntarily, is placed in bankruptcy, (b) enters into a reorganization for the benefit of creditors or similar arrangement in equity, or (c) admits in writing its inability to pay its debts as they become due.

 

4

 

 

	 	3.3	Consequences of Termination/Expiration:     The termination or expiration of this Agreement shall not affect Thermo’s obligation to pay for Products delivered prior to the effective date of the termination nor shall it affect Sections 1.2, 2, 3.3, and 4 of this Agreement, which shall survive such termination or expiration.

 

4.     General Provisions:

 

	 	
			4.1

				
			Notice: Written notice required by this Agreement will be sent certified mail, return receipt requested, by email (confirmed by mail) or by overnight courier, to each party at their registered address set forth in this agreement hereto or to such other addresses as the party may in writing designate from time to time. Such notices shall be deemed effective (i) in the case of email on the date of such delivery if confirmation of receipt is received by sender during business hours on a business day at the location of the addressee or, if not so delivered during business hours on a business day, the first business day thereafter; (ii) in the case of delivery by nationally recognized overnight courier, on the first business day following dispatch at the location of the addressee; and (iii) in the case of mailing, on the tenth business day following such mailing. A business day is a day on which banks are not required to close at the location to which a notice or other communication is addressed

			

 

	 	
			4.2

				
			Force Majeure: Whenever performance by Supplier or Thermo of any of their respective obligations hereunder, other than the obligation to make payment of money due, is substantially prevented by reason of any act of God, strike, lock-out, or other industrial or transportation disturbance, fire, lack of materials, law, regulation or ordinance, war or war conditions, or by reason of any other matter beyond such party’s reasonable control, then such performance shall be excused, suspended during the continuation of such prevention and for a reasonable time thereafter, delayed, or adjusted accordingly.

			

 

	 	
			4.3

				
			Non-Waiver: The failure of either party to enforce at any time any of the provisions of this Agreement or any rights in respect thereto shall, in no way, be considered to be a waiver of such provision or rights, or in any way to affect the validity of the Agreement.

			

 

	 	
			4.4

				
			Entire Agreement: This Agreement (including all Exhibits hereto) constitutes the entire agreement between the parties hereto and supersedes all prior agreements and understandings, oral and written, between the parties relating to the subject matter hereof. This Agreement shall be binding on the parties and their successors and permitted assigns. No change, addition to or waiver of any of the terms of this Agreement shall be binding as to the parties hereto unless approved in writing by the parties hereto or their authorized representatives.

			

 

5

 

 

	 	
			4.5

				
			Confidentiality: If Supplier discloses or grants Thermo access to any research, development, technical, economic, or other business information or know-how of a confidential nature, whether reduced in writing or not, Thermo will not use or disclose any such information to any other person or company at any time, without Supplier’s prior written consent. In the event that Supplier and Thermo have entered into a separate confidentiality agreement, the terms and conditions of such agreement shall take precedence over the terms of this paragraph.

			

 

	 	
			4.6

				
			Independent Contractor: Thermo’s status shall be that of independent contractor and this Agreement shall not be deemed to create a partnership or joint venture between the parties.

			

 

	 	
			4.7

				
			Governing Law; Venue: This Agreement shall be governed by the laws of the State of California, regardless of conflict of law principles therein. Sole jurisdiction and venue for actions related to this Agreement shall be the state and federal courts located in California. Both parties consent to the jurisdiction of such courts and agree that process may be served in the manner allowed by either U.S. federal law or California law.

			

 

	 	
			4.8

				
			Assignment: Thermo may not assign its rights or obligations hereunder, without Supplier’s prior written consent, except to its affiliates, provided that in the case of such assignment to affiliates Thermo remains secondarily liable.

			

 

	 	
			4.9

				
			Severability: This Agreement is subject to the restrictions, limitations, terms and conditions of all applicable laws and governmental regulations, approvals and clearances. If any term or provision of this Agreement shall for any reason be held invalid, illegal or unenforceable in any respect such invalidity, illegality or unenforceability shall not affect any other term or provision hereof, and this Agreement shall be interpreted and construed as if such term or provision, to the extent the same shall have been held to be invalid, illegal or unenforceable, had never been contained herein.

			

 

	 	
			4.10

				
			Counterparts: This Agreement may be executed in one or more counterparts, and each by email, and each of which shall be deemed an original, but all of which together shall constitute the same instrument.

			

 

6

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year above written.

 

ThermoGenesis Corp.

2711 Citrus Road

Rancho Cordova, CA 95742

USA

 

By: /s/ Mindy Wilke-Douglas

(Authorized Officer)

 

Date Signed: 4/27/2020

 

 

ImmuneCyte Life Sciences, Inc.

185 Technology Dr. #150

Irvine, CA 92618

USA

 

By: /s/ Joseph Shen 

(Authorized Officer)

 

Date Signed: 4/27/2020

 

7

 

 

Exhibit A

Product Pricing

 

 

SARS-CoV-2(COVID-19) IgM/IgG Antibody Fast Detection Kit (Colloidal Gold)

 

20 Tests/Kit @ $[**]/Test or $[**]/Kit (Price is in US Dollars)

 

 

 

 

 

Exhibit B

Product Quantity

 

SARS-CoV-2(COVID-19) IgM/IgG Antibody Fast Detection Kit (Colloidal Gold)

 

20 Tests/Kit

 

 

 

Q2 2020 – [**]

 

Q3 2020 - [**]

 

Q4 2020 - [**]

 

Q1 2021 - [**]

 

 

 

 

Exhibit C

Product Distribution

 

 

	
			●

				
			Cost of Goods for each kit is $[**].

			

 

	
			●

				
			Commission is provided to ImmuneCyte at the rate of [**]%,

			

 

 

	
			Customer Price

			(Per Kit)

				
			 COGS

			(Per Kit)

				
			Sales Commission

			to ImmuneCyte

				
			Commission

			Rate

				
			ThermoGenesis Revenue 

			(Subtract COGS)

			
	
			$[**]

				
			$[**]

				
			$[**]

				
			[**]%

				
			$[**]

			
	
			$[**]

				
			$[**]

				
			$[**]

				
			[**]%

				
			$[**]

			
	
			$[**]

				
			$[**]

				
			$[**]

				
			[**]%

				
			$[**]

			
	
			$[**]

				
			$[**]

				
			$[**]

				
			[**]%

				
			$[**]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]