Document:

EX-4.1

 Exhibit 4.1 

FIRSTENERGY CORP. 
 OFFICER’S
CERTIFICATE 
 Creating the 

2.85% Notes, Series A, due 2022 

3.90% Notes, Series B, due 2027 

4.85% Notes, Series C, due 2047 
 Steven R. Staub,
the Vice President and Treasurer of FirstEnergy Corp. (the “Company”), pursuant to the authority granted in the resolutions of the Board of Directors of the Company dated September 13, 2001, March 15, 2011 and
March 17, 2015, the resolutions of the Finance Committee of such Board dated November 9, 2001, May 15, 2017 and June 19, 2017 and Sections 102, 201 and 301 of the Indenture (as defined herein), does hereby certify to The Bank of
New York Mellon Trust Company, N.A., (as successor trustee to Bank One Trust Company, N.A.) (the “Trustee”) under the Indenture of the Company (For Unsecured Debt Securities) dated as of November 15, 2001 (the
“Indenture”) that: 
  

	 	1.	The Securities of the third, fourth and fifth series to be issued under the Indenture shall be designated “2.85% Notes, Series A, due 2022” (the “Series A Notes”), “3.90% Notes, Series B,
due 2027” (the “Series B Notes”) and “4.85% Notes, Series C, due 2047” (the “Series C Notes” and, together with the Series A Notes and the Series B Notes, the “Notes”), respectively.
All capitalized terms used in this certificate which are not defined herein but are defined in the form of Series A Notes, the form of Series B Notes and the form of Series C Notes attached hereto as Exhibit A, Exhibit B and Exhibit C, respectively,
shall have the meanings set forth in such Exhibit A, Exhibit B or Exhibit C; all other capitalized terms used in this certificate which are not defined herein or in Exhibit A, Exhibit B or Exhibit C hereto but are defined in the Indenture shall have
the meanings set forth in the Indenture; 

  

	 	2.	The Series A Notes, the Series B Notes and the Series C Notes shall mature and the principal thereof shall be due and payable together with all accrued and unpaid interest thereon on July 15, 2022, July 15,
2027 and July 15, 2047, respectively; 

  

	 	3.	The Series A Notes, the Series B Notes and the Series C Notes shall bear interest as provided in the forms of the Notes set forth in Exhibit A, Exhibit B and Exhibit C hereto, respectively; 

 

	 	4.	 The principal and each installment of interest on the Notes shall be payable at, and registration and
registration of transfers and exchanges in respect of the Notes may be effected at, the office or agency of the Company in The City of New York; provided that payment of interest may be made at the option of the Company by check mailed to the
address of the persons entitled thereto or by wire transfer to an account designated by the person entitled thereto; and provided further that so long as the Notes are registered in the name of The Depository Trust Company

	 	
(“DTC”), or its nominee as discussed below, all payments of principal and interest in respect of the Notes will be made in immediately available funds. Notices and demands to or
upon the Company in respect of the Notes may be served at the office or agency of the Company in The City of New York. The Corporate Trust Office of the Trustee will initially be the agency of the Company for such payment, registration and
registration of transfers and exchanges and service of notices and demands, and the Company hereby appoints the Trustee as its agent for all such purposes; provided, however, that the Company reserves the right to change, by one or more
Officer’s Certificates any such office or agency and such agent. The Trustee will be the Security Registrar and the Paying Agent for the Notes; 

  

	 	5.	The Series A Notes, the Series B Notes and the Series C Notes shall be redeemable as provided in the form of such Notes set forth in Exhibit A, Exhibit B and Exhibit C hereto, respectively; 

 

	 	6.	The Notes will be originally issued in global form payable to Cede & Co. (as nominee for DTC, the initial securities depositary for the Notes) and will, unless and until the Notes are exchanged in whole or in
part for certificated Notes, registered in the names of various beneficial holders thereof (in accordance with the conditions set forth in the legend appearing in the form of the Series A Notes, Series B Notes and Series C Notes set forth in Exhibit
A, Exhibit B and Exhibit C hereto, respectively), contain restrictions on transfer, substantially as described in such form; 

  

	 	7.	No service charge shall be made for the registration of transfer or exchange of the Notes; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with the exchange or transfer; 

  

	 	8.	The Series A Notes, the Series B Notes and the Series C Notes shall have such other terms and provisions as are provided in the forms set forth in Exhibit A, Exhibit B and Exhibit C hereto, respectively, and shall be
issued in substantially such form; 

  

	 	9.	The undersigned has read all of the covenants and conditions contained in the Indenture relating to the issuance of the Notes and the definitions in the Indenture relating thereto and in respect of which this
certificate is made; 

  

	 	10.	The statements contained in this certificate are based upon the familiarity of the undersigned with the Indenture and the documents accompanying this certificate, and upon discussions by the undersigned with officers
and employees of the Company familiar with the matters set forth herein; 

  

	 	11.	In the opinion of the undersigned, he has made such examination or investigation as is necessary to express an informed opinion whether or not such covenants and conditions have been complied with; and

  
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	 	12.	In the opinion of the undersigned, such conditions and covenants and conditions precedent, if any (including any covenants compliance with which constitutes a condition precedent) to the authentication and delivery of
the Notes requested in the accompanying Company Order have been complied with. 

 [Signature page follows] 

  
 3 

 IN WITNESS WHEREOF, I have executed this Officer’s Certificate this 21st day of June, 2017.

  

			
	   /s/ Steven R. Staub
	 	
	Steven R. Staub	 	
	Vice President and Treasurer	 	

 Signature Page to FirstEnergy Corp. Officer’s Certificate re Indenture 

 Exhibit A 
  

					
	No.                   R-         	  	$                    

 Cusip No.         337932 AG2 

[FORM OF FACE OF NOTE] 
 (See
legend at the end of this Security for restrictions on transferability and change of form) 
 FIRSTENERGY CORP. 

2.85% NOTES, SERIES A, DUE 2022 

FirstEnergy Corp., a corporation duly organized and existing under the laws of the State of Ohio (herein referred to as the
“Company”, which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co. or registered assigns the principal sum of
$                 on July 15, 2022 (the “Maturity Date”), and to pay interest on said principal sum, semiannually on January 15 and
July 15 of each year (each an “Interest Payment Date”) at the rate of 2.85% per annum until the principal hereof is paid or made available for payment. Interest on the Securities of this series will accrue from June 21,
2017, to the first Interest Payment Date, and thereafter will accrue from the last Interest Payment Date to which interest has been paid or duly provided for. In the event that any Interest Payment Date is not a Business Day, then payment of
interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the January 1 or July 1 immediately preceding the corresponding Interest Payment Date; provided, however, that interest payable at Maturity will be paid to the
Person to whom principal is paid. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture referred to on the reverse hereof. 
 Payment of the principal of
(and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in The City of New York, the State of New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company, interest on this Security may be paid by check mailed to the

  
 A-1 

 
address of the person entitled thereto, as such address shall appear on the Security Register or by wire transfer to an account designated by the person entitled thereto; and provided further,
that so long as the Securities of this series are registered in the name of The Depository Trust Company or a nominee thereof, all payments of principal and interest in respect of the Securities of this series will be made in immediately available
funds. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

[Remainder of page intentionally left blank] 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	 FIRSTENERGY CORP.

	
	By:                                   
                               
		 	Name:
		 	Title:

  

			
		 	ATTEST:
		
		 	  

		 	Name:
		 	Title:

  
 A-3 

 [FORM OF CERTIFICATE OF AUTHENTICATION] 

CERTIFICATE OF AUTHENTICATION 
 Dated: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 The Bank of New York Mellon Trust Company, N.A.,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued under
an Indenture, dated as of November 15, 2001 (herein, together with any amendments thereto, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New
York Mellon Trust Company, N.A., as successor trustee to Bank One Trust Company, N.A., (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the
Indenture, including the Board Resolutions and Officer’s Certificate filed with the Trustee on June 21, 2017 creating the series designated on the face hereof, for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

The interest rate payable on the Securities will be subject to adjustments from time to time if any of Moody’s Investors Service, Inc.
(“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) or Fitch Ratings Inc. (“Fitch”) (each a “Rating Agency” and collectively, the “Rating
Agencies”) (or, if applicable, any “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Securities Exchange Act of 1934, or any successor provision, that is selected by us as a
replacement for Moody’s, S&P or Fitch, as the case may be (each, a “Substitute Rating Agency”)) downgrades (or subsequently upgrades) its rating assigned to the Securities, in the manner described below. The interest rate
is also subject to adjustments if any of the Rating Agencies ceases to rate the Securities or fails to make a rating of the Securities publicly available for reasons outside the Company’s control, subject to the conditions described below. The
provisions of the Indenture described below will apply independently to the Securities. 
 If the ratings of the Securities from any one or
more of the Rating Agencies is decreased to a rating set forth in any of the immediately following tables, the interest rate on the Securities will increase from the interest rate payable on the Securities on the date of their issuance by an amount
equal to the sum of the percentages set forth in the following tables opposite those ratings; provided, that only the two lowest ratings assigned to the Securities will be taken into account for purposes of any interest rate adjustment: 

 

					
	Moody’s Rating*	  	Percentage	 
	 Ba1
	  	 	0.25%	 
	 Ba2
	  	 	0.50%	 
	 Ba3
	  	 	0.75%	 
	 B1 or below
	  	 	1.00%	 

  

	*      	Including successor ratings of Moody’s or the equivalent ratings of any Substitute Rating Agency for Moody’s. 

  

					
	S&P Rating*	  	Percentage	 
	 BB
	  	 	0.25%	 
	 BB-
	  	 	0.50%	 
	 B+
	  	 	0.75%	 
	 B or below
	  	 	1.00%	 

  

	*      	Including successor ratings of S&P or the equivalent ratings of any Substitute Rating Agency for S&P. 

  
 A-5 

					
	Fitch Rating*	  	Percentage	 
	 BB+
	  	 	0.25%	 
	 BB
	  	 	0.50%	 
	 BB-
	  	 	0.75%	 
	 B+ or below
	  	 	1.00%	 

  

	*      	Including successor ratings of Fitch or the equivalent ratings of any Substitute Rating Agency for Fitch. 

If at any time the interest rate on the Securities has been adjusted upward and any of the Rating Agencies, as the case may be, subsequently
increases its rating of the Securities to any of the threshold ratings set forth above, the interest rate on the Securities will be decreased such that the interest rate for the Securities equals the interest rate payable on the Securities on the
date of their issuance plus (if applicable) the percentages set forth opposite the ratings from the tables above with respect to the two lowest ratings assigned to the Securities (or deemed assigned) at that time. Notwithstanding the above, the
interest rate on the Securities will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by any or all of the Rating Agencies) if the Securities become rated A3, A- and A- (or its successor or the equivalent of any such rating, in the case of a Substitute Rating Agency) or higher by Moody’s, S&P, and Fitch, respectively (or, in each case, a Substitute Rating Agency
thereof), respectively (or two of these ratings if the Securities are only rated by two Rating Agencies or one of these ratings if the Securities are only rated by one Rating Agency). 

Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of any of the Rating
Agencies, shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Securities be reduced to below the interest rate on the Securities on the date of their issuance or (2) the total
increase in the interest rate on the Securities exceed 2.00% above the interest rate payable on the Securities on the date of their issuance. 

No adjustments in the interest rate of the Securities shall be made solely as a result of a Rating Agency ceasing to provide a rating of the
Securities. If at any time a Rating Agency ceases to provide a rating of the Securities for a reason beyond our control, we will use our commercially reasonable efforts to designate a Substitute Rating Agency and to obtain a rating of the Securities
from such Substitute Rating Agency, to the extent one exists, and, if we so designate a Substitute Rating Agency, for purposes of determining any increase or decrease in the interest rate on the Securities pursuant to the tables above, (a) such
Substitute Rating Agency will be substituted for the last Rating Agency to provide a rating of the Securities which has since ceased to provide such rating and (b) the relative rating scale used by such Substitute Rating Agency to assign
ratings to senior unsecured debt will be determined in good faith by us and, for purposes of determining the applicable ratings included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be
the equivalent ratings used by Moody’s, S&P or Fitch, as applicable, in such table. If a Rating Agency has ceased to provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating
Agency, that Rating Agency will be deemed to have rated the Securities at the lowest level contemplated by the tables above; however, if only one of the Rating Agencies ceases to provide a rating of the Securities for any reason, the deemed rating
of that Rating Agency will be disregarded for purposes of all interest rate adjustments. If two of the Rating Agencies cease to provide a rating of the Securities for any reason and we are unable to or

  
 A-6 

 
otherwise do not designate a Successor Rating Agency for both Rating Agencies, the deemed rating of only one of such two Rating Agencies will be disregarded. If all three Rating Agencies cease to
provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating Agency for all three Rating Agencies, the interest rate on the Securities will increase to, or remain at, as the case may be,
2.00% above the interest rate payable on the Securities on the date of their issuance. 
 Any interest rate increase or decrease described
above will take effect from the first day of the interest period commencing after the date on which a rating change occurs requiring an adjustment in the interest rate. If any of the Rating Agencies changes its rating of the Securities more than
once during any particular interest period, the last change by such Rating Agency will control for purposes of any interest rate increase or decrease with respect to the Securities described above relating to such Rating Agency’s action. 

If the interest rate payable on the Securities is increased as described above, the term “interest,” as used with respect to the
Securities, will be deemed to include any such additional interest unless the context otherwise requires. 
 The Company shall notify the
Trustee, in writing, of any adjustment requiring a decrease or increase of the interest rate of the Securities at least five business days prior to the semi-annual interest payment date on which the Company is required to pay interest at such
adjusted interest rate. In no event shall the Trustee be responsible for monitoring the ratings of the Securities or for determining when an increase or decrease in the interest rate of the Notes is required, all of which shall be the responsibility
of the Company. 
 Securities of this series shall be redeemable at the option of the Company, in whole or in part from time to time, upon
notice mailed to each registered owner, at his last address appearing on the Security Register, (i) prior to the date that is two months prior to the Maturity Date, at a redemption price equal to the greater of (1) 100% of the principal amount
of the Securities of this series to be redeemed then outstanding; or (2) as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the Securities of this
series to be redeemed (not including any portion of the payments of interest accrued to the date of redemption) that would be due if the Securities matured on the date that is two months prior to the Maturity Date, discounted to the redemption date
on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 20 basis points, and (ii) on or after the
date that is two months prior to the Maturity Date at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed then outstanding, in each case plus accrued and unpaid interest to, but not including, the
date of redemption on the Securities of this series to be redeemed. 
 “Adjusted Treasury Rate” means, with respect to any
redemption date: 
  

	 	•	 the yield, under the heading which represents the average for the immediately preceding week, appearing in the
most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States
Treasury securities adjusted to constant maturity, 

  
 A-7 

	 	
for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely
corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from these yields on a straight line basis, rounding to the nearest month); or 

 

	 	•	if the release (or any successor release) is not published during the week preceding the calculation date or does not contain these yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date. The Adjusted Treasury Rate will be calculated
on the third Business Day preceding the redemption date. 

 “Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of this series to be redeemed (assuming, for this purposes, that the Securities mature on the date that is
two months prior to the Maturity Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such
securities (“Remaining Life”). 
 “Comparable Treasury Price” means (1) the average of three
Reference Treasury Dealer Quotations for the redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than three Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury
Dealers appointed by the Company. 
 “Reference Treasury Dealer” means: 

 

	 	•	each of Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing
cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and 

 

	 	•	any two other Primary Treasury Dealers selected by the Company. 

 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in
each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding the redemption date. 

  
 A-8 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before
the applicable redemption date to each holder of the Securities of this series to be redeemed. If the Company elects to partially redeem the Securities of this series, the Securities of this series to be redeemed will be selected in accordance with
the applicable policies and procedures of the Depositary. The redemption price determined by the Independent Investment Banker, absent manifest error, shall be binding and conclusive upon the Holders of the Securities of this series, the Company and
the Trustee. 
 If at the time notice of redemption is given, the redemption monies are not on deposit with the Trustee, then the redemption
shall be subject to their receipt on or before the redemption date and such notice shall be of no effect unless such monies are received. 

Upon payment of the redemption price, interest will cease to accrue on and after the applicable redemption date on the Securities of this
series or portions thereof called for redemption. The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of a majority in aggregate principal amount of the Securities of all series at the time
Outstanding in respect of which an Event of Default shall have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable
indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a
direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request 

  
 A-9 

 
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest
hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
and of authorized denominations, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the
absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 A-10 

 LEGEND 

Unless and until this Security is exchanged in whole or in part for certificated Securities registered in the names of the various beneficial
holders hereof as then certified to the Trustee by The Depository Trust Company (55 Water Street, New York, New York) or its successor (the “Depositary”), this Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

Unless this certificate is presented by an authorized representative of the Depositary to the Company or its agent for registration of
transfer, exchange or payment, and any certificate to be issued is registered in the name of Cede & Co., or such other name as requested by an authorized representative of the Depositary and any amount payable thereunder is made payable to
Cede & Co., or such other name, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

This Security may be exchanged for certificated Securities registered in the names of the various beneficial owners hereof if (a) the
Depositary is at any time unwilling or unable to continue as depositary and a successor depositary is not appointed by the Company within 90 days, or (b) the Company elects to issue certificated Securities to beneficial owners. Any such
exchange shall be made upon receipt by the Trustee of a Company Order therefor and certificated Securities of this series shall be registered in such names and in such denominations as shall be certified to the Company and the Trustee by the
Depositary. 

  
 A-11 

 Exhibit B 
  

					
	No.            	  	R-        	  	$                    
			
	Cusip No.	  	337932 AH0	  	

 [FORM OF FACE OF NOTE] 

(See legend at the end of this Security for restrictions on transferability and change of form) 

FIRSTENERGY CORP. 
 3.90% NOTES,
SERIES B, DUE 2027 
 FirstEnergy Corp., a corporation duly organized and existing under the laws of the State of Ohio (herein referred to
as the “Company”, which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co. or registered assigns the principal sum of
$                 on July 15, 2027 (the “Maturity Date”), and to pay interest on said principal sum, semiannually on January 15 and
July 15 of each year (each an “Interest Payment Date”) at the rate of 3.90% per annum until the principal hereof is paid or made available for payment. Interest on the Securities of this series will accrue from June 21,
2017, to the first Interest Payment Date, and thereafter will accrue from the last Interest Payment Date to which interest has been paid or duly provided for. In the event that any Interest Payment Date is not a Business Day, then payment of
interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the January 1 or July 1 immediately preceding the corresponding Interest Payment Date; provided, however, that interest payable at Maturity will be paid to the
Person to whom principal is paid. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture referred to on the reverse hereof. 
 Payment of the principal of
(and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in The City of New York, the State of New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company, interest on this Security may be paid by check mailed to the

  
 B-1 

 
address of the person entitled thereto, as such address shall appear on the Security Register or by wire transfer to an account designated by the person entitled thereto; and provided further,
that so long as the Securities of this series are registered in the name of The Depository Trust Company or a nominee thereof, all payments of principal and interest in respect of the Securities of this series will be made in immediately available
funds. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

[Remainder of page intentionally left blank] 

  
 B-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	FIRSTENERGY CORP.
			
	By:	 	  
	 	
		 	[Name]	 	
		 	[Title]	 	

  

			
	 ATTEST:

	
	                                    
                         
	 [Name]
	 	
	 [Title]
	 	

  
 B-3 

 [FORM OF CERTIFICATE OF AUTHENTICATION] 

CERTIFICATE OF AUTHENTICATION 
 Dated: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 The Bank of New York Mellon Trust Company, N.A.,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 B-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued under
an Indenture, dated as of November 15, 2001 (herein, together with any amendments thereto, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New
York Mellon Trust Company, N.A., as successor trustee to Bank One Trust Company, N.A., (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the
Indenture, including the Board Resolutions and Officer’s Certificate filed with the Trustee on June 21, 2017 creating the series designated on the face hereof, for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

The interest rate payable on the Securities will be subject to adjustments from time to time if any of Moody’s Investors Service, Inc.
(“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) or Fitch Ratings Inc. (“Fitch”) (each a “Rating Agency” and collectively, the “Rating
Agencies”) (or, if applicable, any “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Securities Exchange Act of 1934, or any successor provision, that is selected by us as a
replacement for Moody’s, S&P or Fitch, as the case may be (each, a “Substitute Rating Agency”)) downgrades (or subsequently upgrades) its rating assigned to the Securities, in the manner described below. The interest rate
is also subject to adjustments if any of the Rating Agencies ceases to rate the Securities or fails to make a rating of the Securities publicly available for reasons outside the Company’s control, subject to the conditions described below. The
provisions of the Indenture described below will apply independently to the Securities. 
 If the ratings of the Securities from any one or
more of the Rating Agencies is decreased to a rating set forth in any of the immediately following tables, the interest rate on the Securities will increase from the interest rate payable on the Securities on the date of their issuance by an amount
equal to the sum of the percentages set forth in the following tables opposite those ratings; provided, that only the two lowest ratings assigned to the Securities will be taken into account for purposes of any interest rate adjustment: 

 

					
	Moody’s Rating*	  	Percentage	 
	 Ba1
	  	 	0.25%	 
	 Ba2
	  	 	0.50%	 
	 Ba3
	  	 	0.75%	 
	 B1 or below
	  	 	1.00%	 

  

	*	Including successor ratings of Moody’s or the equivalent ratings of any Substitute Rating Agency for Moody’s. 

  

					
	S&P Rating*	  	Percentage	 
	 BB
	  	 	0.25%	 
	 BB-
	  	 	0.50%	 
	 B+
	  	 	0.75%	 
	 B or below
	  	 	1.00%	 

  

	*	Including successor ratings of S&P or the equivalent ratings of any Substitute Rating Agency for S&P. 

  
 B-5 

					
	Fitch Rating*	  	Percentage	 
	 BB+
	  	 	0.25%	 
	 BB
	  	 	0.50%	 
	 BB-
	  	 	0.75%	 
	 B+ or below
	  	 	1.00%	 

  

	*	Including successor ratings of Fitch or the equivalent ratings of any Substitute Rating Agency for Fitch. 

If at any time the interest rate on the Securities has been adjusted upward and any of the Rating Agencies, as the case may be, subsequently
increases its rating of the Securities to any of the threshold ratings set forth above, the interest rate on the Securities will be decreased such that the interest rate for the Securities equals the interest rate payable on the Securities on the
date of their issuance plus (if applicable) the percentages set forth opposite the ratings from the tables above with respect to the two lowest ratings assigned to the Securities (or deemed assigned) at that time. Notwithstanding the above, the
interest rate on the Securities will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by any or all of the Rating Agencies) if the Securities become rated A3, A- and A- (or its successor or the equivalent of any such rating, in the case of a Substitute Rating Agency) or higher by Moody’s, S&P, and Fitch, respectively (or, in each case, a Substitute Rating Agency
thereof), respectively (or two of these ratings if the Securities are only rated by two Rating Agencies or one of these ratings if the Securities are only rated by one Rating Agency). 

Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of any of the Rating
Agencies, shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Securities be reduced to below the interest rate on the Securities on the date of their issuance or (2) the total
increase in the interest rate on the Securities exceed 2.00% above the interest rate payable on the Securities on the date of their issuance. 

No adjustments in the interest rate of the Securities shall be made solely as a result of a Rating Agency ceasing to provide a rating of the
Securities. If at any time a Rating Agency ceases to provide a rating of the Securities for a reason beyond our control, we will use our commercially reasonable efforts to designate a Substitute Rating Agency and to obtain a rating of the Securities
from such Substitute Rating Agency, to the extent one exists, and, if we so designate a Substitute Rating Agency, for purposes of determining any increase or decrease in the interest rate on the Securities pursuant to the tables above, (a) such
Substitute Rating Agency will be substituted for the last Rating Agency to provide a rating of the Securities which has since ceased to provide such rating and (b) the relative rating scale used by such Substitute Rating Agency to assign
ratings to senior unsecured debt will be determined in good faith by us and, for purposes of determining the applicable ratings included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be
the equivalent ratings used by Moody’s, S&P or Fitch, as applicable, in such table. If a Rating Agency has ceased to provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating
Agency, that Rating Agency will be deemed to have rated the Securities at the lowest level contemplated by the tables above; however, if only one of the Rating Agencies ceases to provide a rating of the Securities for any reason, the deemed rating
of that Rating Agency will be disregarded for purposes of all interest rate adjustments. If two of the Rating Agencies cease to provide a rating of the Securities for any reason and we are unable to or

  
 B-6 

 
otherwise do not designate a Successor Rating Agency for both Rating Agencies, the deemed rating of only one of such two Rating Agencies will be disregarded. If all three Rating Agencies cease to
provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating Agency for all three Rating Agencies, the interest rate on the Securities will increase to, or remain at, as the case may be,
2.00% above the interest rate payable on the Securities on the date of their issuance. 
 Any interest rate increase or decrease described
above will take effect from the first day of the interest period commencing after the date on which a rating change occurs requiring an adjustment in the interest rate. If any of the Rating Agencies changes its rating of the Securities more than
once during any particular interest period, the last change by such Rating Agency will control for purposes of any interest rate increase or decrease with respect to the Securities described above relating to such Rating Agency’s action. 

If the interest rate payable on the Securities is increased as described above, the term “interest,” as used with respect to the
Securities, will be deemed to include any such additional interest unless the context otherwise requires. 
 The Company shall notify the
Trustee, in writing, of any adjustment requiring a decrease or increase of the interest rate of the Securities at least five business days prior to the semi-annual interest payment date on which the Company is required to pay interest at such
adjusted interest rate. In no event shall the Trustee be responsible for monitoring the ratings of the Securities or for determining when an increase or decrease in the interest rate of the Notes is required, all of which shall be the responsibility
of the Company. 
 Securities of this series shall be redeemable at the option of the Company, in whole or in part from time to time, upon
notice mailed to each registered owner, at his last address appearing on the Security Register, (i) prior to the date that is three months prior to the Maturity Date, at a redemption price equal to the greater of (1) 100% of the principal
amount of the Securities of this series to be redeemed then outstanding; or (2) as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the Securities of
this series to be redeemed (not including any portion of the payments of interest accrued to the date of redemption) that would be due if the Securities matured on the date that is three months prior to the Maturity Date, discounted to the
redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 30 basis points, and (ii) on
or after the date that is three months prior to the Maturity Date at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed then outstanding, in each case plus accrued and unpaid interest to, but not
including, the date of redemption on the Securities of this series to be redeemed. 
 “Adjusted Treasury Rate” means, with
respect to any redemption date: 
  

	 	•	 the yield, under the heading which represents the average for the immediately preceding week, appearing in the
most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States
Treasury securities adjusted to constant maturity, 

  
 B-7 

	 	
for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely
corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from these yields on a straight line basis, rounding to the nearest month); or 

 

	 	•	if the release (or any successor release) is not published during the week preceding the calculation date or does not contain these yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date. The Adjusted Treasury Rate will be calculated
on the third Business Day preceding the redemption date. 

 “Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of this series to be redeemed (assuming, for this purposes, that the Securities mature on the date that is
three months prior to the Maturity Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such
securities (“Remaining Life”). 
 “Comparable Treasury Price” means (1) the average of three
Reference Treasury Dealer Quotations for the redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than three Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury
Dealers appointed by the Company. 
 “Reference Treasury Dealer” means: 

 

	 	•	each of Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing
cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and 

 

	 	•	any two other Primary Treasury Dealers selected by the Company. 

 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in
each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding the redemption date. 

  
 B-8 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before
the applicable redemption date to each holder of the Securities of this series to be redeemed. If the Company elects to partially redeem the Securities of this series, the Securities of this series to be redeemed will be selected in accordance with
the applicable policies and procedures of the Depositary. The redemption price determined by the Independent Investment Banker, absent manifest error, shall be binding and conclusive upon the Holders of the Securities of this series, the Company and
the Trustee. 
 If at the time notice of redemption is given, the redemption monies are not on deposit with the Trustee, then the redemption
shall be subject to their receipt on or before the redemption date and such notice shall be of no effect unless such monies are received. 

Upon payment of the redemption price, interest will cease to accrue on and after the applicable redemption date on the Securities of this
series or portions thereof called for redemption. The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of a majority in aggregate principal amount of the Securities of all series at the time
Outstanding in respect of which an Event of Default shall have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable
indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a
direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request 

  
 B-9 

 
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest
hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
and of authorized denominations, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the
absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 B-10 

 LEGEND 

Unless and until this Security is exchanged in whole or in part for certificated Securities registered in the names of the various beneficial
holders hereof as then certified to the Trustee by The Depository Trust Company (55 Water Street, New York, New York) or its successor (the “Depositary”), this Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

Unless this certificate is presented by an authorized representative of the Depositary to the Company or its agent for registration of
transfer, exchange or payment, and any certificate to be issued is registered in the name of Cede & Co., or such other name as requested by an authorized representative of the Depositary and any amount payable thereunder is made payable to
Cede & Co., or such other name, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

This Security may be exchanged for certificated Securities registered in the names of the various beneficial owners hereof if (a) the
Depositary is at any time unwilling or unable to continue as depositary and a successor depositary is not appointed by the Company within 90 days, or (b) the Company elects to issue certificated Securities to beneficial owners. Any such
exchange shall be made upon receipt by the Trustee of a Company Order therefor and certificated Securities of this series shall be registered in such names and in such denominations as shall be certified to the Company and the Trustee by the
Depositary. 

  
 B-11 

 Exhibit C 
  

					
	No.	    	R-        	  	$                    
			
	Cusip No.	    	337932 AJ6	  	

 [FORM OF FACE OF NOTE] 

(See legend at the end of this Security for restrictions on transferability and change of form) 

FIRSTENERGY CORP. 
 4.85% NOTES,
SERIES C, DUE 2047 
 FirstEnergy Corp., a corporation duly organized and existing under the laws of the State of Ohio (herein referred to
as the “Company”, which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co. or registered assigns the principal sum of
$                 on July 15, 2047 (the “Maturity Date”), and to pay interest on said principal sum, semiannually on January 15 and
July 15 of each year (each an “Interest Payment Date”) at the rate of 4.85% per annum until the principal hereof is paid or made available for payment. Interest on the Securities of this series will accrue from June 21,
2017, to the first Interest Payment Date, and thereafter will accrue from the last Interest Payment Date to which interest has been paid or duly provided for. In the event that any Interest Payment Date is not a Business Day, then payment of
interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the January 1 or July 1 immediately preceding the corresponding Interest Payment Date; provided, however, that interest payable at Maturity will be paid to the
Person to whom principal is paid. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture referred to on the reverse hereof. 
 Payment of the principal of
(and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in The City of New York, the State of New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company, interest on this Security may be paid by check mailed to the

  
 C-1 

 
address of the person entitled thereto, as such address shall appear on the Security Register or by wire transfer to an account designated by the person entitled thereto; and provided further,
that so long as the Securities of this series are registered in the name of The Depository Trust Company or a nominee thereof, all payments of principal and interest in respect of the Securities of this series will be made in immediately available
funds. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

[Remainder of page intentionally left blank] 

  
 C-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	FIRSTENERGY CORP.
			
	By:	 	  
	 	
		 	[Name]	 	
		 	[Title]	 	

  

			
	ATTEST:	 	
	  

         
	 	
	[Name]	 	
	[Title]	 	

  
 C-3 

 [FORM OF CERTIFICATE OF AUTHENTICATION] 

CERTIFICATE OF AUTHENTICATION 
 Dated: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

					
	 The Bank of New York Mellon Trust Company, N.A.,

as Trustee

			
	By:	 	  
	 	
		 	Authorized Signatory	 	

  
 C-4 

 [FORM OF REVERSE OF NOTE} 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued under
an Indenture, dated as of November 15, 2001 (herein, together with any amendments thereto, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New
York Mellon Trust Company, N.A., as successor trustee to Bank One Trust Company, N.A., (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the
Indenture, including the Board Resolutions and Officer’s Certificate filed with the Trustee on June 21, 2017 creating the series designated on the face hereof, for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

The interest rate payable on the Securities will be subject to adjustments from time to time if any of Moody’s Investors Service, Inc.
(“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) or Fitch Ratings Inc. (“Fitch”) (each a “Rating Agency” and collectively, the “Rating
Agencies”) (or, if applicable, any “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Securities Exchange Act of 1934, or any successor provision, that is selected by us as a
replacement for Moody’s, S&P or Fitch, as the case may be (each, a “Substitute Rating Agency”)) downgrades (or subsequently upgrades) its rating assigned to the Securities, in the manner described below. The interest rate
is also subject to adjustments if any of the Rating Agencies ceases to rate the Securities or fails to make a rating of the Securities publicly available for reasons outside the Company’s control, subject to the conditions described below. The
provisions of the Indenture described below will apply independently to the Securities. 
 If the ratings of the Securities from any one or
more of the Rating Agencies is decreased to a rating set forth in any of the immediately following tables, the interest rate on the Securities will increase from the interest rate payable on the Securities on the date of their issuance by an amount
equal to the sum of the percentages set forth in the following tables opposite those ratings; provided, that only the two lowest ratings assigned to the Securities will be taken into account for purposes of any interest rate adjustment: 

 

					
	 Moody’s Rating*
	  	 	Percentage	 
	 Ba1
	  	 	0.25%	 
	 Ba2
	  	 	0.50%	 
	 Ba3
	  	 	0.75%	 
	 B1 or below
	  	 	1.00%	 

  

	*	Including successor ratings of Moody’s or the equivalent ratings of any Substitute Rating Agency for Moody’s. 

  

					
	 S&P Rating*
	  	 	Percentage	 
	 BB
	  	 	0.25%	 
	 BB-
	  	 	0.50%	 
	 B+
	  	 	0.75%	 
	 B or below
	  	 	1.00%	 

  

	*	Including successor ratings of S&P or the equivalent ratings of any Substitute Rating Agency for S&P. 

  
 C-5 

					
	 Fitch Rating*
	  	 	Percentage	 
	 BB+
	  	 	0.25%	 
	 BB
	  	 	0.50%	 
	 BB-
	  	 	0.75%	 
	 B+ or below
	  	 	1.00%	 

  

	*	Including successor ratings of Fitch or the equivalent ratings of any Substitute Rating Agency for Fitch. 

If at any time the interest rate on the Securities has been adjusted upward and any of the Rating Agencies, as the case may be, subsequently
increases its rating of the Securities to any of the threshold ratings set forth above, the interest rate on the Securities will be decreased such that the interest rate for the Securities equals the interest rate payable on the Securities on the
date of their issuance plus (if applicable) the percentages set forth opposite the ratings from the tables above with respect to the two lowest ratings assigned to the Securities (or deemed assigned) at that time. Notwithstanding the above, the
interest rate on the Securities will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by any or all of the Rating Agencies) if the Securities become rated A3, A- and A- (or its successor or the equivalent of any such rating, in the case of a Substitute Rating Agency) or higher by Moody’s, S&P, and Fitch, respectively (or, in each case, a Substitute Rating Agency
thereof), respectively (or two of these ratings if the Securities are only rated by two Rating Agencies or one of these ratings if the Securities are only rated by one Rating Agency). 

Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of any of the Rating
Agencies, shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Securities be reduced to below the interest rate on the Securities on the date of their issuance or (2) the total
increase in the interest rate on the Securities exceed 2.00% above the interest rate payable on the Securities on the date of their issuance. 

No adjustments in the interest rate of the Securities shall be made solely as a result of a Rating Agency ceasing to provide a rating of the
Securities. If at any time a Rating Agency ceases to provide a rating of the Securities for a reason beyond our control, we will use our commercially reasonable efforts to designate a Substitute Rating Agency and to obtain a rating of the Securities
from such Substitute Rating Agency, to the extent one exists, and, if we so designate a Substitute Rating Agency, for purposes of determining any increase or decrease in the interest rate on the Securities pursuant to the tables above, (a) such
Substitute Rating Agency will be substituted for the last Rating Agency to provide a rating of the Securities which has since ceased to provide such rating and (b) the relative rating scale used by such Substitute Rating Agency to assign
ratings to senior unsecured debt will be determined in good faith by us and, for purposes of determining the applicable ratings included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be
the equivalent ratings used by Moody’s, S&P or Fitch, as applicable, in such table. If a Rating Agency has ceased to provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating
Agency, that Rating Agency will be deemed to have rated the Securities at the lowest level contemplated by the tables above; however, if only one of the Rating Agencies ceases to provide a rating of the Securities for any reason, the deemed rating
of that Rating Agency will be disregarded for purposes of all interest rate adjustments. If two of the Rating Agencies cease to provide a rating of the Securities for any reason and we are unable to or

  
 C-6 

 
otherwise do not designate a Successor Rating Agency for both Rating Agencies, the deemed rating of only one of such two Rating Agencies will be disregarded. If all three Rating Agencies cease to
provide a rating of the Securities for any reason and we are unable to or otherwise do not designate a Successor Rating Agency for all three Rating Agencies, the interest rate on the Securities will increase to, or remain at, as the case may be,
2.00% above the interest rate payable on the Securities on the date of their issuance. 
 Any interest rate increase or decrease described
above will take effect from the first day of the interest period commencing after the date on which a rating change occurs requiring an adjustment in the interest rate. If any of the Rating Agencies changes its rating of the Securities more than
once during any particular interest period, the last change by such Rating Agency will control for purposes of any interest rate increase or decrease with respect to the Securities described above relating to such Rating Agency’s action. 

If the interest rate payable on the Securities is increased as described above, the term “interest,” as used with respect to the
Securities, will be deemed to include any such additional interest unless the context otherwise requires. 
 The Company shall notify the
Trustee, in writing, of any adjustment requiring a decrease or increase of the interest rate of the Securities at least five business days prior to the semi-annual interest payment date on which the Company is required to pay interest at such
adjusted interest rate. In no event shall the Trustee be responsible for monitoring the ratings of the Securities or for determining when an increase or decrease in the interest rate of the Notes is required, all of which shall be the responsibility
of the Company. 
 Securities of this series shall be redeemable at the option of the Company, in whole or in part from time to time, upon
notice mailed to each registered owner, at his last address appearing on the Security Register, (i) prior to the date that is six months prior to the Maturity Date, at a redemption price equal to the greater of (1) 100% of the principal amount
of the Securities of this series to be redeemed then outstanding; or (2) as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the Securities of this
series to be redeemed (not including any portion of the payments of interest accrued to the date of redemption) that would be due if the Securities matured on the date that is six months prior to the Maturity Date, discounted to the redemption date
on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 35 basis points, and (ii) on or after the
date that is six months prior to the Maturity Date at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed then outstanding, in each case plus accrued and unpaid interest to, but not including, the
date of redemption on the Securities of this series to be redeemed. 
 “Adjusted Treasury Rate” means, with respect to any
redemption date: 
  

	 	•	 the yield, under the heading which represents the average for the immediately preceding week, appearing in the
most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States
Treasury securities adjusted to constant maturity, 

  
 C-7 

	 	
for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely
corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from these yields on a straight line basis, rounding to the nearest month); or 

 

	 	•	if the release (or any successor release) is not published during the week preceding the calculation date or does not contain these yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date. The Adjusted Treasury Rate will be calculated
on the third Business Day preceding the redemption date. 

 “Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of this series to be redeemed (assuming, for this purposes, that the Securities mature on the date that is
six months prior to the Maturity Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such
securities (“Remaining Life”). 
 “Comparable Treasury Price” means (1) the average of three
Reference Treasury Dealer Quotations for the redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than three Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury
Dealers appointed by the Company. 
 “Reference Treasury Dealer” means: 

 

	 	•	each of Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing
cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and 

 

	 	•	any two other Primary Treasury Dealers selected by the Company. 

 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in
each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding the redemption date. 

  
 C-8 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before
the applicable redemption date to each holder of the Securities of this series to be redeemed. If the Company elects to partially redeem the Securities of this series, the Securities of this series to be redeemed will be selected in accordance with
the applicable policies and procedures of the Depositary. The redemption price determined by the Independent Investment Banker, absent manifest error, shall be binding and conclusive upon the Holders of the Securities of this series, the Company and
the Trustee. 
 If at the time notice of redemption is given, the redemption monies are not on deposit with the Trustee, then the redemption
shall be subject to their receipt on or before the redemption date and such notice shall be of no effect unless such monies are received. 

Upon payment of the redemption price, interest will cease to accrue on and after the applicable redemption date on the Securities of this
series or portions thereof called for redemption. The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of a majority in aggregate principal amount of the Securities of all series at the time
Outstanding in respect of which an Event of Default shall have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable
indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a
direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request 

  
 C-9 

 
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest
hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
and of authorized denominations, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the
absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 C-10 

 LEGEND 

Unless and until this Security is exchanged in whole or in part for certificated Securities registered in the names of the various beneficial
holders hereof as then certified to the Trustee by The Depository Trust Company (55 Water Street, New York, New York) or its successor (the “Depositary”), this Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

Unless this certificate is presented by an authorized representative of the Depositary to the Company or its agent for registration of
transfer, exchange or payment, and any certificate to be issued is registered in the name of Cede & Co., or such other name as requested by an authorized representative of the Depositary and any amount payable thereunder is made payable to
Cede & Co., or such other name, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

This Security may be exchanged for certificated Securities registered in the names of the various beneficial owners hereof if (a) the Depositary is at
any time unwilling or unable to continue as depositary and a successor depositary is not appointed by the Company within 90 days, or (b) the Company elects to issue certificated Securities to beneficial owners. Any such exchange shall be made
upon receipt by the Trustee of a Company Order therefor and certificated Securities of this series shall be registered in such names and in such denominations as shall be certified to the Company and the Trustee by the Depositary. 

  
 C-11Exhibit 10.1

 

Confidential

  

June
15, 2017

 

 

 

MEDA
PHARMA SARL

 

- and -

 

IMMUNE
PHARMACEUTICALS, INC.

 

 

ASSET
PURCHASE AGREEMENT

 

Concerning
Ceplene and Certain Related Assets

 

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Contents

 

	Clause	 	Page
	 	 	 
	1.	Interpretation	5
	 	 	 
	2.	Sale and Purchase of the Assets	14
	 	 	 
	3.	Purchase Price	14
	 	 	 
	4.	VAT	16
	 	 	 
	5.	Completion	16
	 	 	 
	6.	Accelerated Payment of the Purchase Price	16
	 	 	 
	7.	Termination	17
	 	 	 
	8.	Seller Warranties	18
	 	 	 
	9.	Buyer Warranties	19
	 	 	 
	10.	Limitations on Seller’s Liability	19
	 	 	 
	11.	Business Responsibility	19
	 	 	 
	12	Transfer and Termination of Contracts	20
	 	 	 
	13.	Receivables	21
	 	 	 
	14.	Transmission of the Dossier, Treatment of MAs and Orphan Drug Designation	21
	 	 	 
	15.	Transitional Services Agreement	21
	 	 	 
	16.	Access to Information	21
	 	 	 
	17.	Data protection	22
	 	 	 
	18.	Covenants of the Parties	23
	 	 	 
	19.	Confidentiality	23
	 	 	 
	20.	Announcements	25
	 	 	 
	21.	Assignment	25
	 	 	 
	22.	Notices	26
	 	 	 
	23.	Guarantee	28
	 	 	 
	24.	Further Assurance	29

 

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	25.	Costs	29
	 	 	 
	26.	Interest on Late Payment	29
	 	 	 
	27.	Variation	30
	 	 	 
	28.	Waiver	30
	 	 	 
	29.	Rights and Remedies Are Cumulative	30
	 	 	 
	30.	Counterparts	30
	 	 	 
	31.	Effect of Completion	30
	 	 	 
	32.	Entire Agreement	30
	 	 	 
	33.	Invalidity	31
	 	 	 
	34.	Debarment	31
	 	 	 
	35.	Anti-Corruption Undertaking	31
	 	 	 
	36.	Third party rights	31
	 	 	 
	37.	Governing law and Jurisdiction and service of process	32

 

	Schedule 1 » Territory	35
	 	 
	Schedule 2 » Trademarks Patents and Domain Names	36
	 	 
	Schedule 3 » Regulatory Applications and Approvals	40
	 	 
	Schedule 4 » Contracts	43
	 	 
	Schedule 5 » Completion Obligations	47
	 	 
	Schedule 6 » Seller Warranties	48
	 	 
	Schedule 7 » Buyer Warranties	52
	 	 
	Schedule 8 » Limitations on Sellers Liability	53
	 	 
	Schedule 9 » Transfer of Dossier, MAs and Orphan Drug Designation	57
	 	 
	Schedule 10 » Earn Out Payments	59
	 	 
	Schedule 11 » Agreed Announcement	63
	 	 
	Schedule 12 » IP Assignments	66
	 	 
	Schedule 13 » Form of Assignment Notice	67
	 	 
	Schedule 14 » Transitional Services Agreement	68

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	Schedule 15 » Termination Deed	69
	 	 
	Schedule 16 » Completion Date Inventory Estimate	70

 

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asset purchase
agreement

 

This
Asset Purchase Agreement (this “Agreement”) is made on June 14, 2017 (the “Execution Date”)
by and between Meda Pharma SARL, a company incorporated under the laws of
Luxembourg (RC Luxembourg B157784) having its head office and registered address at 43 Avenue John Fitzgerald Kennedy, L-1855 Luxembourg,
Grand-Duchy of Luxembourg (the “Seller”); and Immune Pharmaceuticals,
Inc., a company incorporated under the laws of Delaware, USA, whose principal place of business is at 12 East 49th Street,
11th Floor, New York, NY 10017, USA (the “Buyer”).

 

The Seller and the Buyer are also referred
to herein collectively as the “Parties”, and each as a “Party”.

 

		Whereas,	the Asset Sellers are the owners of Assets relating to
Ceplene in the Territory;

 

		Whereas,	the Seller has agreed to sell for itself and as agent for
the relevant Asset Sellers the Assets to the Buyer and the Buyer has agreed to purchase the Assets on the terms and conditions
of this Agreement;

 

		Whereas,	the Buyer has agreed to enter into a guarantee in certain
circumstances as set out in this Agreement;

 

Now,
Therefore, in consideration of the mutual covenants and undertakings
set forth herein, it is hereby agreed as follows:

 

		1.	Interpretation

 

		1.1	In this Agreement:

 

		1.1.1	“Affiliate” or “Affiliates” means, with respect to any party,
any entity, directly or indirectly, controlling, controlled by or under common control with such party, for only so long as such
control exists. For purposes of this definition, “control” means (i) in the case of an entity that is a corporate
entity, direct or indirect ownership of more than fifty percent (50%) of the stock or shares having the right to vote (or such
lesser percentage which is the maximum allowed to be owned by a foreign corporation in a particular jurisdiction) for the election
of directors of such entity, or (ii) in the case of a person or an entity that is not a corporate entity, the possession, directly
or indirectly, of the power to direct, or cause the direction of, the management or policies of such entity, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling”, “controlled
by” or “under common control” shall have the meanings correlative to the foregoing;

 

		1.1.2	“Agreed Announcement” means the announcement in agreed form between the Seller
and the Buyer as set out in Schedule 11;

 

		1.1.3	“Applicable Laws” means all laws, ordinances, rules and regulations applicable
to the development, manufacture, placing on the market of the Product and the obligations of the Seller or the Buyer, as the context
requires under this Agreement, including, without limitation, (i) all applicable federal, state and local laws and regulations;
(ii) the U.S. Federal Food, Drug and Cosmetic Act; (iii) the EU Commission Directive 2001/83/EC of 6 November 2001 (as amended)
on the Community Code Relating to Medicinal Products for Human Use, as well as national laws of European Member States implementing
such aforementioned Community Code; (iv) cGMPs; and (v) any other requirements by any other Health Authority, government or governmental
agency;

 

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		1.1.4	“Asset Purchase Agreement” means both:

 

		(a)	the asset purchase agreement entered into between (1) EpiCept, (2) Maxim Pharmaceuticals, Inc.
and (3) the Seller dated 18 June 2012 relating to the purchase of the Purchased Assets (as defined in the Asset Purchase Agreement);
and

 

		(b)	the asset purchase agreement entered into between (1) EpiCept, (2) EpiCept GmbH and (3) the Meda
AB dated 18 June 2012 relating to the purchase of the Purchased Assets (as defined in the Asset Purchase Agreement);

 

		1.1.5	“Asset Seller” means the members of the Seller Group that own any of the Assets
immediately prior to Completion, or for the purposes of the Seller Warranties, the members of the Seller Group that own any of
the Assets as at Completion;

 

		1.1.6	“Assets” means the assets, rights, and license rights of the Business held by
the Seller Group Companies, including the Business Intellectual Property, the Goodwill, the Documentation, the Domain Names, the
Meda Know-How and the Meda Improvements;

 

		1.1.7	“Assignment Notice” means the form of notice to be sent to the third parties
who are parties to the Contracts as set out in Schedule 13;

 

		1.1.8	“Business” means the business of the respective Asset Sellers as carried on
by those Asset Sellers on the date of this Agreement, comprising or relating to the development, manufacture, distribution, marketing
and/or commercialisation of Ceplene and / or the Product in the Territory;

 

		1.1.9	“Business Day” means any day which is not a Saturday, a Sunday or a bank or
public holiday in England, Luxembourg or Sweden;

 

		1.1.10	“Business Information” means all of the information relating to customers and
suppliers including price lists, in each case to the extent that such information relates to the Business and/or Assets, together
with all documents material to the Business Intellectual Property and all documented Know-How which is material to the Business
and/or the Assets, including any related regulatory files and/or regulatory information, but excluding the Retained Information;

 

		1.1.11	“Business Intellectual Property” means the Intellectual Property concerning
the Product and/or the Business which is owned by an Asset Seller, and which is used and/or exploited or intended to be used or
exploited by or on behalf of an Asset Seller in or in connection with the Product and / or the Business (including the Registered
Intellectual Property);

 

		1.1.12	“Business Obligations” means all the obligations and Liabilities that
relate to or arise in respect of or are connected to the Business or the Assets or use or ownership of the Assets or acts or omission
in relation thereto, whether derived from contract, law or otherwise, and arising after Completion and “Business Obligation”
means any of them;

 

		1.1.13	“Buyer’s Confidential Information” means information in any form exclusively
relating to the Business, (including future plans and business development), but does not include information which:

 

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		(a)	is publicly known at the Completion Date or which subsequently becomes publicly known (other than
in either case as a result of a breach of the provisions of the Confidentiality Agreement, Clause ‎19
(Confidentiality) of this Agreement or a Transaction Document by a Seller Group Company). A compilation of otherwise public
information in a form not publicly known is to be regarded as not publicly known;

 

		(b)	the Seller can show was made known to it after the Completion Date by a person unconnected with
a Buyer Group Company who was entitled to do so (and not in breach of an obligation of confidence) and who did not impose an obligation
of confidence or restricted use; or

 

		(c)	the Seller or an Asset Seller has retained or acquired exclusive rights in under a Transaction
Document;

 

		1.1.14	“Buyer Group” means the group of corporate Affiliates comprising the Buyer,
any person which is from time to time a subsidiary undertaking of the Buyer, a parent undertaking of the Buyer, any other subsidiary
undertaking of Buyer’s parent undertaking, and the respective Affiliates of any of the aforesaid;

 

		1.1.15	“Buyer Group Company” means any entity included in the Buyer Group;

 

		1.1.16	“Buyer Warranty” means a statement set out in Schedule
7;

 

		1.1.17	“Ceplene” means any chemical composition comprising or containing histamine
dihydrochloride (2-(3H-imidazol-4-yl) ethylnamine dihydrochloride);

 

		1.1.18	“Ceplene Trademarks” means the Ceplene trademarks that are identified in Schedule
2, Part 1;

 

		1.1.19	“Claim” means a claim arising under or in respect of a Transaction Document;

 

		1.1.20	“cGMP” means the Good Manufacturing Practices as set out in Directive 2003/94/EC,
together with the guidance for interpretation of the principles and guidelines of good manufacturing practices for medicinal products
for human use;

 

		1.1.21	“Completion” means the Completion of the sale and purchase of the Business and
Assets in accordance with this Agreement;

 

		1.1.22	“Completion Date” means the date of this Agreement;

 

		1.1.23	“Confidentiality Agreement” means the agreement dated 2 February 2016 between
the Buyer and the Seller in which, amongst other things, the Buyer has agreed to keep confidential certain information relating
to the Business and the Seller;

 

		1.1.24	“Contracts” means those contracts in Schedule
4;

 

		1.1.25	“Consent” means consent, waiver, authorisation, appeal or notice;

 

		1.1.26	“Cooperation Agreement” means the agreement dated 18 June 2012 between (1) EpiCept,
(2) EpiCept GMBH and (3) Meda AB;

 

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		1.1.27	“Customer Data” means all personal data (as defined in the Data Protection Directive)
of patients and any other individuals which is transferred to the Buyer under the terms of this Agreement;

 

		1.1.28	“Data Stick” means the data stick containing the Disclosure Bundle documents;

 

		1.1.29	“Default Notice” has the meaning given to it in Clause ‎6.1.1;

 

		1.1.30	“Delayed Purchase Price” has the meaning given to it in Clause ‎6.1.1;

 

		1.1.31	“Disclosure Bundle” means the documents listed at Appendix
1 to the Disclosure Letter;

 

		1.1.32	“Disclosure Letter” means the letter described as such, from the Seller to the
Buyer dated the Completion Date;

 

		1.1.33	“Documentation” means: (i) all Regulatory Documentation; and (ii) the
Dossier and all material documents, records and files (including, without limitation, all computer readable material) reflecting
or incorporating the same, to the extent, in respect of the Business, that the same relates to the Product in the Territory;

 

		1.1.34	“Domain Names” means the internet domain names set out in Schedule
2, Part 3;

 

		1.1.35	“Dossier” means in respect of the Product, the registration file required to
obtain, support and maintain the respective Marketing Authorisation in the relevant Territory (comprising modules 1 to 5 according
to the Volume 2B of the Notice to Applicants, Medicinal products for human use, or any formats equivalent thereto in any other
relevant jurisdiction) and any variations, notifications or renewal documentation;

 

		1.1.36	“Due Amount” the amount (if any) due for payment by the Sellers (or any
of them) to the Buyer in respect of a Claim that has been Resolved;

 

		1.1.37	“Effective Time” means 00:01 a.m. (GMT) on the Completion Date;

 

		1.1.38	“Encumbrance” means a charge, debenture, mortgage, pledge, lien, security interest,
title retention, assignment, restriction, right of first refusal, option, right of pre-emption or other third party right or interest
of any kind, whether granted for the purpose of security or not;

 

		1.1.39	“EpiCept” means EpiCept Corporation, a corporation organised under the laws
of the State of Delaware, USA having its principal offices at 777 Old Saw Mill River Road, Tarytown, New York, 10591 USA;

 

		1.1.40	“EpiCept Supply Agreement” means the supply agreement dated 29 March 2010 between
EpiCept and Meda AB in respect of the Business for the manufacture and supply of the Finished Product (as defined in the EpiCept
Supply Agreement);

 

		1.1.41	“Fixed Consideration” means $5,000,000;

 

		1.1.42	“Fixed Payment Date” has the meaning given in Clause ‎3.3.1;

 

		1.1.43	“Goodwill” means all of the goodwill associated with the Business;

 

		1.1.44	“Governmental Authority” means any government, any state or other political
subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining
to government or any other authority, agency, department, board, commission or instrumentality of any jurisdiction, and any court,
tribunal or arbitrator(s) of competent jurisdiction;

 

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		1.1.45	“Government Official” means any officer or employee of a government or any department,
agency, or instrumentality thereof, or of a public international organization, or any person acting in an official capacity for
or on behalf of any such government or department, agency, or instrumentality, or for or on behalf of any such public international
organisation;

 

		1.1.46	“Health Authority” means a public authority or government agency responsible
for exercising autonomous authority in respect of medicines for human use in a regulatory or supervisory capacity in any jurisdiction;

 

		1.1.47	“Information” shall mean tangible and intangible data, techniques, processes,
technology, practices, trade secret, inventions (whether patentable or not), methods, knowledge, Know-How, skill, experience, test
data and results (including, without limitation, pharmacological, toxicological and clinical test data and results), analytical
and quality control data, results, descriptions and compositions of matter;

 

		1.1.48	“Intellectual Property” means all intellectual property rights in any part of
the world including:

 

		(a)	patents, utility models, rights in inventions, registered and unregistered trade and service marks,
supplementary protection certificates rights in business and trade names and get-up, rights in domain names, registered designs,
unregistered rights in designs, copyrights and neighbouring rights, database rights, rights in Know-How, and, in each case, rights
of a similar or corresponding character; and

 

		(b)	all applications and rights to apply for the protection of any of the rights referred to in paragraph
(a) above;

 

		1.1.49	“Inventory” means all Product, consisting of any raw materials, works in progress,
goods consigned by an Asset Seller, finished goods, packaging, supplies and labels (including any of the foregoing held for the
benefit of the Business in the possession of third party manufacturers, suppliers, dealers, distributors or others in transit)
held anywhere in the world for resale or license by the Business in the Territory or incorporated into or consumed in connection
with such goods and materials;

 

		1.1.50	“Inventory Value” means the amount
allocated for the value of Inventory for the Business;

 

		1.1.51	“IP Arrangement” means each licence, permission, consent, undertaking, settlement,
agreement, restriction and arrangement relating to the Business Intellectual Property or relevant to its use or exploitation in,
or in connection with, the Business;

 

		1.1.52	“IP Assignments” means the deeds of assignment conveying the Ceplene Trademarks
and the Meda Patents to the Buyer as set out in Schedule 12;

 

		1.1.53	“Know-How” means trade secrets, confidential information, know-how, technical
or commercial knowledge and manufacturing or business processes, methods and procedures;

 

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		1.1.54	“Liabilities” means any and all debts, liabilities, guarantees, assurances,
commitments, costs, expenses and obligations, whether accrued or not accrued, fixed, known or unknown, absolute or contingent,
asserted or unasserted, matured or unmatured, liquidated or unliquidated, due or to become due, or determined or determinable,
whenever or however arising (including whether arising out of any contract or tort, other Applicable Law or related to taxes payable
by a person);

 

		1.1.55	“Losses” means all losses, damages costs (including properly and reasonably
incurred legal costs and expenses), charges, expenses, actions, proceedings, claims, interest, fines, penalties, awards, judgments,
settlements and demands whether or not reasonably foreseeable or avoidable;

 

		1.1.56	“Marketing Authorisation” or “MA” means the approval, registration,
license or authorisation issued by the competent Health Authority for the purpose of permitting the placing on the market and marketing
of a Product in a specific territory after evaluation for safety, efficacy and quality, being Marketing Authorisation No. EU/1/08/477/001;

 

		1.1.57	“Meda AB” means a Solna Municipality company organised and existing under the
laws of Sweden, registered at the Swedish Companies Registration Office under number 556529-4773 having its principal offices at
Box 906, SE-170 09, Solna, Sweden;

 

		1.1.58	“Meda Improvements” means any and all developments, inventions discoveries,
information and/or data relating to the Meda Patents, the Products or the Meda Know-How developed or acquired by the Seller or
any of its Affiliates;

 

		1.1.59	“Meda Know-How” means all Information owned by the Seller, or any of its Affiliates
and/or any Asset Seller that is necessary and/or useful for the registration, regulatory approval, development, manufacturing,
promotion, marketing, sale and/or distribution of the Product in the Territory;

 

		1.1.60	“Meda Patents” means the patents set out in Schedule 2 Part 2 and any patents
owned by the Seller or any of its Affiliates and/or any Asset Seller that, in the absence of a licence thereunder, would be infringed
by the development, use, sale, offer for sale or import of the Product in the Territory;

 

		1.1.61	“Member State” means a member state of the European Union;

 

		1.1.62	“Orphan Drug Designation” means the designation by a competent authority of
the Product for diagnosis, prevention or treatment of life-threatening or very serious conditions that are rare and affect not
more than 5 in 10,000 persons in the European Union (EU), being the Orphan Drug Designation No. EU/3/05/272;

 

		1.1.63	“Overdue Period” has the meaning given to it in Clause ‎6.2.2;

 

		1.1.64	“Payment Date” means a Fixed Payment Date or the date that an Earn Out Payment
is due in accordance with Schedule 10;

 

		1.1.65	“Preferred Guarantor” means Cytovia Inc., a company incorporated under the laws
of Delaware (reg. no. 2844245), whose principal place of business is at 430 East 29th Street, Suite 940, New York, NY
10016;

 

		1.1.66	“Product” means a pharmaceutical product that is or contains Ceplene and line
and label extensions thereof, including, without limitation, all composition, formulation, routes of administration and other Meda
Improvements made or acquired by the Seller or its Affiliates and/or any Asset Seller;

 

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		1.1.67	“Purchase Price” means the purchase price for the Assets to be paid in accordance
with Clause ‎3.3;

 

		1.1.68	“Receivables” means all debts (including, in addition, VAT if applicable) due
and payable to a Seller Group Company in respect of the Business up to and including the Completion Date;

 

		1.1.69	“Registered Intellectual Property” means the Meda Patents and the Ceplene Trademarks;

 

		1.1.70	“Regulatory Documentation” means any and all existing regulatory applications
and approvals concerning the Products in the Territory, including MAs, as detailed in Schedule 3
on a country-by-country basis, and all material documents, records and files (including all computer readable material) relating
to their filing, prosecution, issuance, renewal, maintenance, enforcement and/or defense, and all material correspondence with
the Health Authorities in this regard;

 

		1.1.71	“Resolved” has the meaning given to it in Clause ‎3.6.1;

 

		1.1.72	“Retained Information” means copies of the Dossier and the Documentation and
all Tax, accounting, financial and other records of a Seller Group Company which relate to the Business and which a Seller Group
Company is required by law to retain after Completion;

 

		1.1.73	“Sale” an arm’s length sale of the Product to a third party who is not
an Affiliate of the Buyer;

 

		1.1.74	“Saleable Inventory” means all packaged Product;

 

		1.1.75	“Seller Confidential Information” means information in any form relating to
the property, rights and assets of the Business which does not come within the definition of Assets (including future plans and
business development), but does not include information which:

 

		(a)	is publicly known at the Completion Date or which subsequently becomes publicly known (other than
in either case as a result of a breach of the provisions of the Confidentiality Agreement, Clause ‎19
(Confidentiality) of this Agreement or a Transaction Document by a Buyer Group Company). A compilation of otherwise public
information in a form not publicly known is to be regarded as not publicly known;

 

		(b)	the Buyer can show was made known to it after the Completion Date by a person unconnected with
a Seller’s Group Company who was entitled to do so (and not in breach of an obligation of confidence) and who did not impose
an obligation of confidence or restricted use; or

 

		(c)	the Buyer has retained or acquired exclusive rights in under a Transaction Document;

 

		1.1.76	“Seller Group” means the group of corporate Affiliates comprising the Seller,
any person which is from time to time a subsidiary undertaking of the Seller, a parent undertaking of the Seller, any other subsidiary
undertaking of Seller’s parent undertaking, and the respective Affiliates of any of the aforesaid;

 

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		1.1.77	“Seller Group Company” means any entity included in the Seller Group;

 

		1.1.78	“Seller Solicitors” means Hogan Lovells International LLP of Atlantic House,
Holborn Viaduct, London, EC1A 2FG;

 

		1.1.79	“Seller Warranty” means any of the warranties of the Seller set forth in Schedule
6;

 

		1.1.80	“Service Charges” has the same meaning as in the Transitional Services Agreement;

 

		1.1.81	“Tax” means all forms of tax, levy, impost, contribution, duty, liability and
charge in the nature of taxation and all related withholdings or deductions of any nature whether of the United Kingdom or elsewhere
and all related fines, penalties, charges, costs and interest;

 

		1.1.82	“Tax Authority” means a taxing or other governmental (local or central), state
or municipal authority (whether within or outside the United Kingdom) competent to impose a liability for or to collect Tax;

 

		1.1.83	“Termination Agreement” means that certain agreement in the form attached hereto
as Schedule 15, to be entered into and a duly executed copy thereof delivered
to Buyer on the date of this Agreement, to terminate the EpiCept Supply Agreement and the Cooperation Agreement and to bar any
parties to the Asset Purchase Agreement from bringing any claims under such agreement from the Completion Date and waiving all
claims they may have in respect of the period prior to the Completion Date;

 

		1.1.84	“Territory” means those countries listed in Schedule
1;

 

		1.1.85	“Transaction” means a transaction that:

 

		(a)	relates to or is entered into in connection with the sale by the Seller and the purchase by the
Buyer of the Assets in respect of the Business; and

 

		(b)	is contemplated in a Transaction Document;

 

		1.1.86	“Transaction Document” means:

 

		(a)	this Agreement;

 

		(b)	the Disclosure Letter;

 

		(c)	the Termination Agreement; and

 

		(d)	the Transitional Services Agreement;

 

		1.1.87	“Transitional Services Agreement” means the transitional services agreement
of even date herewith between Meda AB (Solna) and the Preferred Guarantor in respect of the Business for the provision of certain
distribution services, in the form attached hereto as Schedule 14;

 

		1.1.88	“Transfer Date” has the meaning ascribed to such term in Clause ‎18.1;

 

		1.1.89	“Transfer Period” means the period commencing on the Completion Date and ending
upon the first to occur of (a) termination of this Agreement; or (b) completion of the exhaustive
transfer of all Assets to the Buyer.

 

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		1.1.90	“VAT” means value added tax or equivalent tax in any other jurisdiction;

 

		1.1.91	“Warranty” means a Seller Warranty or a Buyer Warranty; and

 

		1.1.92	“Written Plan” has the meaning given to it in Clause ‎6.1.2.

 

		1.2	In this Agreement:

 

		1.2.1	a reference to a Clause, Paragraph or Schedule is, unless stated otherwise, a reference to a clause
or paragraph of, or schedule to, this Agreement;

 

		1.2.2	a reference in a schedule to a paragraph is, unless otherwise stated, a reference to a paragraph
in that schedule or, where that schedule is split into parts, a reference to a paragraph in that part of that schedule;

 

		1.2.3	a reference to any statute or statutory provision is a reference to that statute or statutory provision
as re-enacted, re-numbered, amended or extended before the Completion Date and includes reference to any subordinate legislation
(as re-enacted, amended or extended) made under it before the Completion Date;

 

		1.2.4	a reference to a “person” includes any individual, company, corporation, firm,
partnership, joint venture, association, state, state agency, institution or trust (whether or not having a separate legal personality);

 

		1.2.5	a reference to a document being in the “agreed form” is a reference to a document
in the form and terms approved and, for the purposes of identification only, initialed, by or on behalf of each party on or before
the date of this Agreement with any alterations that are agreed in writing by or on behalf of each party at any time before Completion;

 

		1.2.6	a reference to one gender is a reference to all or any genders;

 

		1.2.7	a reference to a person’s “Group” is, unless otherwise stated, a reference
to that person, its subsidiary undertakings, its parent undertakings and any other subsidiary undertakings of its parent undertakings;

 

		1.2.8	a reference to “including” or “includes” does not limit the
scope of the meaning of the words preceding it;

 

		1.2.9	the expressions “subsidiary undertaking” and “parent undertaking”
have the meanings given to them by the Companies Act 2006; and

 

		1.2.10	the expression “connected” with reference to a person or group of persons has
the meaning given to it in sections 1122 and 1123 of the UK Corporation Tax Act 2010.

 

		1.3	In this Agreement, a reference in relation to any Intellectual Property, to “use”
includes any act which would constitute an infringement if done without the permission of the owner of the Intellectual Property.

 

		1.4	The Schedules form part of this Agreement and a reference to “this Agreement”
includes its Schedules.

 

		1.5	The headings in this Agreement do not affect its interpretation.

 

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		2.	Sale and purchase of the Assets

 

		2.1	Agreement
                                         to sell and buy

 

		2.1.1	Subject to the terms and conditions of this Agreement, on the Completion Date, the Seller shall
procure that each Asset Seller shall sell, transfer, assign and convey and deliver to the Buyer, and the Buyer shall purchase and
acquire from each Asset Seller (or assume in the case of the Business Obligations), all of such Asset Seller’s right, title
and interest as of the Completion Date in the Assets, and all rights to develop, manufacture and market, sell and commercialise
the Product in the Territory, in order for the Buyer to: (i) apply for, use, vary and/or maintain MA(s) for
the Product in the Territory; and (ii) develop, manufacture, market, sell and commercialise the Product in the
Territory.

 

		2.1.2	The Assets being sold pursuant to Clause ‎2.1.1
will be sold free from all Encumbrances other than:

 

		(a)	in the case of the Inventory only, any title transfer or retention of title provision relating
to the purchase of that Inventory that is usual in the normal course of the Business; and

 

		(b)	the Business Obligations

 

		2.1.3	The Buyer agrees and acknowledges that it is purchasing and acquiring only the Assets for the Territory
and that the Buyer has no interest in or right to any other assets, properties, rights or interests of the Seller, any Asset Seller
or any Seller Group Company.

 

		2.1.4	Subject to the terms and conditions of this Agreement, after Completion and with effect from the
Effective Time, the Buyer will assume and agrees to pay, perform, be responsible for and discharge all Liabilities: (i) arising
after the Effective Time under Contracts assigned to the Buyer in connection with the sale of the Assets; (ii) with
respect to Taxes imposed in connection with, or arising out of or relating to, the Business and the Business Obligations after
the Effective Time; and (iii) of any kind and nature arising out of or relating to the use of ownership of the
Assets from and after the Effective Time.

 

		2.2	Throughout the Transfer Period, the Seller shall act diligently to complete the transfer of all
Assets to the Buyer, and to such end shall execute all such documents as may reasonably be required in order to transfer regulatory
files, approvals letter, and the like.

 

		3.	Purchase Price

 

		3.1	Consideration

 

Subject
to Clause 3.5, the consideration for the purchase of the Assets shall be the Purchase Price which shall consist of the Fixed Consideration
and the Earn-Out Consideration.

 

		3.2	Allocation of Purchase Price

 

The Seller shall be exclusively
responsible for any and all allocations of the Purchase Price to the Asset Sellers.

 

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		3.3	Payment method

 

		3.3.1	Subject to the Buyer’s right to set-off in accordance with clause ‎3.6,
the Buyer shall pay the Purchase Price as follows:

 

		(a)	the Fixed Consideration shall be paid to the Seller in accordance with clause ‎3.3.2
as follows (each date for payment under this Section ‎3.3.1(a)
being a “Fixed Payment Date”):

 

		(i)	$1,500,000 on the earlier of:

 

		(1)	the successful transfer of all of the MAs for the product to the Buyer; or

 

		(2)	the date which is six months after the Completion Date;

 

(the “First
Initial Consideration”)

 

		(ii)	$1,500,000 on the first anniversary of the Completion Date;

 

		(iii)	$1,000,000 on the second anniversary of the Completion Date; and

 

		(iv)	$1,000,000 on the third anniversary of the Completion Date; and

 

		(b)	each Earn Out Payment shall be paid (if at all) in accordance with the provisions of Schedule 10.

 

		3.3.2	On each Fixed Payment Date, the Buyer must pay the Purchase Price to the Seller for the sale of
the Business and associated Assets (as determined by Clause 3.3.1) by wire transfer of funds for same day value into the Seller’s
bank account (as notified by the Seller to the Buyer prior to such Fixed Payment Date).

 

		3.4	Payment of Inventory

 

In addition to the Purchase Price
payable to the Seller, the Buyer shall further be required to pay to the Seller the Inventory Value in respect of the Assets held
in Inventory as at the Transfer Date (with Schedule 16 including an estimate
of the Inventory Value as at the Completion Date) within 30 days of receiving an invoice for such amount from such Asset Seller.

 

		3.5	Amounts Paid by the Seller Deemed a Reduction in the
Purchase Price

 

A payment made by the Seller to
the Buyer under an indemnity contained in this Agreement, in respect of a Claim, or under Clause ‎12
will be treated as having reduced the Purchase Price by the amount of the payment but will not reduce the Purchase Price to below
zero. This Clause does not limit the amount that the Buyer may claim under this Agreement.

 

		3.6	Set Off

 

		3.6.1	In this agreement, a Claim shall be deemed to be “Resolved” if it has been:

 

		(a)	agreed in writing between the Buyer and the Seller as to both liability and quantum;

 

		(b)	finally determined in accordance with Clause ‎37.3;
or

 

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		(c)	unconditionally withdrawn by the claimant Party (the “Claimant”) in writing.

 

		3.6.2	If on a Payment Date, a Claim made by the Buyer has been Resolved, and a Due Amount (or any part
of it) is outstanding in respect of that claim, the Buyer shall be entitled (at its sole discretion) to satisfy all (to the extent
possible) or part of the Sellers’ liability to pay the Due Amount by way of set-off against the Fixed Consideration or Earn-Out
Payment then payable, and to treat its obligation to make such Earn-Out Payment or payment of Fixed Consideration as being reduced
pro tanto by the amount so set off.

 

		4.	VAT

 

All payments made under this Agreement
will (except where otherwise specifically stated) be exclusive of VAT, and any VAT chargeable in respect of the matters giving
rise to such payments will be added to the amount of such payments and paid in addition to them.

 

		5.	Completion

 

		5.1	Time and Place

 

Completion will take place on the
Completion Date at the offices of the Seller Solicitors or at another location agreed in writing between the Buyer and the Seller.

 

		5.2	Completion obligations

 

At Completion the Seller and the
Buyer must comply with their respective obligations set out in Schedule 5
in respect of the Business and the Assets.

 

		6.	Accelerated Payment of the Purchase Price

 

		6.1	Buyer Payment obligations

 

Subject to the Buyer’s right
to set off any payment of the Purchase Price in accordance with clause ‎3.6,
on each Payment Date the Buyer must comply with its obligations set out in this Agreement to pay the element of the Purchase Price
due on such Payment Date.

 

		6.2	Seller Notification

 

If the Buyer fails to comply with
any of its obligations under Clause ‎6.1:

 

		6.2.1	the Seller may provide written notice to the Buyer confirming that such element of the Purchase
Price is due and payable (“Delayed Purchase Price”) (“Default Notice”);

 

		6.2.2	following which, the Buyer will have 30 days (starting on the first Business Day after receipt
of the Default Notice (“Overdue Period”)), to pay the Delayed Purchase Price or to provide a reasonably acceptable
(in the sole opinion of the Seller) written plan outlining the steps the Buyer intends to take to pay the Delayed Purchase Price
(“Written Plan”);

 

		6.2.3	If either: (i) the Buyer has not paid the Delayed Purchase Price or delivered
a Written Plan to the Buyer during the Overdue Period; or (ii) in the sole opinion of the Seller, the Buyer
is failing to adhere to the Written Plan, then the Seller shall:

 

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		(a)	if the First Initial Consideration has not been paid – be permitted to terminate this Agreement
in accordance with Clause ‎7.1.1; or

 

		(b)	if the First Initial Consideration has been paid – be entitled to demand immediate payment
of the unpaid balance of the Fixed Consideration.

 

		6.3	Voluntary Acceleration

 

		6.3.1	If the Buyer wishes to effect a Sale prior to the lapse of the Second Earnout Period, it may do
so freely provided it first notifies Seller to such effect and makes a one-time, accelerated payment to the Seller of either:

 

		(a)	if the Sale is to take place prior to the expiry of the First Earn Out Period, then:

 

		(i)	the unpaid balance of the Fixed Consideration as at the date of the Sale; and

 

		(ii)	a further $2,000,000; or

 

		(b)	if the Sale is to take place following the expiry of the First Earn Out Period but prior to the
expiry of the Second Earnout Period, then:

 

		(i)	the unpaid balance of the Fixed Consideration, and any accrued but unpaid Earn Out Payment in respect
of the First Earn Out Period calculated in accordance with Schedule 10,
as at the date of the Sale; and

 

		(ii)	a further $1,000,000.

 

		6.3.2	Upon receipt by the Seller of payment in full under Clause ‎6.3.1(a)
or Clause ‎6.3.1(b), as applicable

 

		(a)	the Buyer shall be deemed to have fully discharged any and all payment obligations under Clause
3.3 and Schedule 10 hereto; and

 

		(b)	the Buyer (or the Preferred Guarantor,
if applicable) shall be automatically released from any further obligations or liabilities under the guarantee in Clause 23 with
respect to the payment obligations referred to in Clause 6.3.2(a).

 

		7.	Termination

 

		7.1.1	If the Seller terminates this Agreement pursuant to Clause ‎6.2.3(a),
a Party’s further rights and obligation under this Agreement cease immediately on termination except that:

 

		(a)	each Party must continue to comply with Clauses ‎19
(Confidentiality), ‎20 (Announcements), ‎25
(Notices) and ‎37 (Anti-Corruption Undertaking)
and each provision of this Agreement necessary for a Party to enforce those clauses;

 

		(b)	the Buyer shall transfer all of the Assets back to the Seller for nil consideration (entering into
any such agreements as required by the Seller and where applicable on similar terms as the Transaction Documents);

 

		(c)	the First Initial Consideration payment will remain due and payable; and

 

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		(d)	all other payments to be made under this Agreement will no longer be payable.

 

		(e)	termination of this Agreement does not affect a Party’s right to claim for a breach of the
other Party’s obligations in relation to this Agreement if that breach occurred; (i) before termination;
or (ii) after termination to the extent that such claim is in respect of a clause that is stated to survived
termination of this Agreement, and in each such case each Party must continue to comply with each provision of this Agreement necessary
for a Party to enforce such a right.

 

		8.	SellEr Warranties

 

		8.1	Seller Warranties Given at the Completion Date

 

The Seller warrants to the Buyer
that each Seller Warranty is true and accurate as of the Completion Date.

 

		8.2	Seller Warranties Are Separate Statements

 

Each Seller Warranty is a separate
and independent statement and (except as expressly provided by this Agreement) is not limited or otherwise affected by any other
Seller Warranty or by any other provision of this Agreement.

 

		8.3	Scope of Seller Warranties

 

The only Seller Warranties given
in respect of Intellectual Property are those set out in paragraph 6 of Schedule 6 and none of the other Seller Warranties is or
will be interpreted as being a warranty, statement or representation relating to Intellectual Property.

 

		8.4	Seller Warranties Qualified by Disclosure

 

The Buyer is not entitled to claim
that a fact, matter or circumstance causes a Seller Warranty to be untrue or inaccurate, if that fact, matter or circumstance is:

 

		8.4.1	fairly disclosed in or by:

 

		(a)	the Disclosure Letter;

 

		(b)	the documents that are annexed to the Disclosure Letter or are listed in the index of documents
annexed to the Disclosure Letter; or

 

		(c)	in any document or file on the Data Stick; or

 

		8.4.2	at the Completion Date, within the knowledge of any director or employee of the Buyer or the Buyer’s
Group.

 

		8.5	Seller’s knowledge

 

Where a Seller Warranty is qualified
by the expression “so far as the Seller is aware” or “to the best of the Seller’s knowledge” or a
similar expression, the Seller is deemed to have knowledge only of the actual knowledge at each date on which that Seller Warranty
is given of Filip Ringborg, Dagmar Gehino, Dennis Castor, Fannie Bercez, Gabriele Endler after reasonable enquiry.

 

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		9.	Buyer Warranties

 

		9.1	Buyer Warranties Given at the Completion Date

 

The Buyer warrants to the Seller
that at the Completion Date each Buyer Warranty is true and accurate.

 

		9.2	Buyer Warranties are Separate Statements

 

Each Buyer Warranty is a separate
and independent statement and (except as expressly provided by this Agreement) is not limited or otherwise affected by any other
Buyer Warranty or by any other provision of this Agreement.

 

		10.	Limitations on Seller’s Liability

 

The provisions of Schedule
8 apply to impose certain limitations on the Sellers’ liability under this Agreement.

 

		11.	Business responsibility

 

		11.1	Responsibility for Business Obligations and Buyer’s
Indemnity

 

After Completion, the Buyer must:

 

		11.1.1	perform (subject to Clause ‎12)
and discharge each Business Obligation;

 

		11.1.2	indemnify the Seller against all Losses which the Seller or a Seller Group Company incurs:

 

		(a)	in connection with the ownership of an Asset, or the operation of the Business, to the extent that
such Losses arise from circumstances occurring after the Effective Time; or

 

		(b)	as a result of the Buyer’s performance or non-performance of an Business Obligation to the
extent that the Losses are attributable to the Buyer’s act or omission after the Effective Time;

 

		(c)	as a result of reasonable costs and professional fees incurred in enforcing its rights under this
Clause ‎11.1.2, including the reasonable costs
of investigating, disputing, enforcing or settling such Claim.

 

		11.2	Conduct of Claims; Buyer Protections

 

Notwithstanding
anything to the contrary in this Agreement or elsewhere in the Transaction Documents: (a) the Buyer shall have no liability
towards any Seller Group Company other than pursuant to an indemnity or a Resolved Claim (excepting payment of the Fixed Consideration,
the Earn-Out Payments, the Inventory Value and the Service Charges), and (b) the provisions of Sections 3 through 9
and 11 of Schedule 8 shall apply to any Claim by a Seller Group Company
against the Buyer, mutatis mutandis.

 

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		12.	Transfer and Termination of Contracts

 

		12.1	General

 

At Completion, the Seller shall
procure that effective from the Effective Time, (a) subject to clause 12.2, each Contract designated on Schedule 4
as a Contract to be assigned at Completion, shall be duly assigned to Buyer; and (b) each Contract
designated on Schedule 4 as a Contract to be terminated at Completion,
shall be duly terminated without liability for the Buyer.

 

		12.2	Transfer of Contracts that Require Third Party Consent

 

		12.2.1	Obtaining Consent; Conduct During Interim Period

 

Each Contract designated in Schedule
4 as requiring another person’s consent to transfer to the Buyer the rights and/or obligations of a relevant Asset
Seller under a Contract:

 

		(a)	the Seller and the Buyer must use their respective commercially reasonable efforts after Completion
to obtain that third party’s consent to the transfer of the rights and obligations of the relevant Seller Group Company under
the relevant Contract to the Buyer with effect from the Effective Time provided however that in no event shall the Seller or any
Seller Group Company be obligated to pay any money to any person or to otherwise offer or grant other financial of other accommodations
to any person in connection with obtaining any such consent; and

 

		(b)	until consent to any such transfer is obtained:

 

		(i)	the Parties shall procure that the relevant Asset Seller must, and the Buyer must, after Completion
and at the Buyer’s cost, co-operate in any reasonable, lawful and economically feasible arrangement (including any appropriate
subcontracting or subservicing arrangements) which is not prohibited under the relevant Contract to provide the Buyer, with effect
from the Completion Date, with both the benefit of such Asset Seller’s rights under the relevant Contract and the burden,
liabilities and obligations of such Contract, in each case as if the Contract had been transferred to the Buyer;

 

		(ii)	the Seller shall procure that the relevant Asset Seller, must at the Buyer’s cost, promptly
give to the Buyer any document or item received by such Asset Seller in relation to the relevant Contract;

 

		(iii)	the Buyer must do everything and enter into all documents that the Seller reasonably requests to
enable the Buyer to perform, the relevant Asset Seller’s obligations under the relevant Contract as subcontractor or agent
for such Asset Seller; and

 

		(iv)	if the Contract becomes transferable and the transfer would not violate Applicable Law, the Parties
shall procure that the relevant Asset Seller shall, and the Buyer shall, effect the novation of such Contract to the Buyer.

 

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		12.2.2	Failure to Obtain Consent to Transfer of a Contract

 

If the consent of another person
to the transfer of an Asset Seller’s rights and/or obligations under a Contract is necessary (and is to be obtained under
Clause ‎12.2) and that consent has not been
obtained on or before the 90th day after the Completion Date:

 

		(a)	the Buyer may (at any time), by notice to the Seller, require the relevant Asset Seller to use
all reasonable efforts to make sure that the Contract is terminated without liability to the Buyer or any Asset Seller; and

 

		(b)	the Buyer and the Seller, and each relevant Asset Seller, will have no further obligation to the
other in relation to achieving the transfer of that Contract to the Buyer.

 

		12.3	No Illegal or Undue Transfer

 

To avoid any doubt, nothing in
this Agreement constitutes a transfer or attempted transfer of the rights or obligations of any Seller Group Company under a Contract,
where such transfer or attempted transfer would be illegal under its governing law or would constitute a breach of the relevant
Contract.

 

		13.	Receivables

 

The Seller, and every relevant
Seller Group Company, may take any lawful action to collect an outstanding Receivable.

 

		14.	Transmission of the Dossier, Treatment of MAs and Orphan Drug Designation

 

		14.1	In respect of the Business, the regulatory situation for the registration of the Product in the
relevant Territory is registered under a centralized procedure identified as EMEA/H/C/000796, Marketing Authorisation No. EU/1/08/477/001
and Orphan Drug Designation No: EU/3/05/272.

 

		14.2	The provisions of Schedule
9 shall apply in respect of the post-Completion transmission to the Buyer of the Dossier and related Documentation (including
without limitation any regulatory authorizations, permissions, files or letters held by Seller or an Asset Seller) and the transfer
of the MA and the Orphan Drug Designation.

 

		15.	Transitional Services Agreement

 

On Completion, the Parties shall
enter into the Transitional Services Agreement.

 

		16.	Access to information

 

		16.1	Seller to Pass on Information Received

 

The Seller will procure that any
formal written notice, correspondence or order concerning the Business which is received by a Seller Group Company after Completion
is promptly passed on to the Buyer.

 

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		16.2	Retention of and Access to Information

 

		16.2.1	The Seller must:

 

		(a)	preserve in strict confidence (in accordance with Clause 18.1 below) all Retained Information (excluding
for these purposes the Dossier and the Documentation) until the expiry of any period prescribed by statute for the retention of
the relevant material and two years from Completion, whichever is the later; and

 

		(b)	during the appropriate period referred to in Clause ‎16.2.1(a),
allow the Buyer and/or its advisers or agents, on reasonable notice, reasonable access to the Retained Information preserved in
accordance with Clause ‎16.2.1(a), including,
without limitation, for the purpose of copying (at the Buyer’s expense) and inspection.

 

		16.2.2	In respect of the Dossier and the Documentation, the Seller and each relevant Seller Group Company
shall retain all rights to use the same to (subject to its confidentiality obligations under Clause ‎19
in general and under Clause ‎19.5 in particular):

 

		(a)	in order to carry out its obligations or exercise its rights under any Transaction Documents; and

 

		(b)	for any other purpose required by Applicable Laws.

 

		16.2.3	The Buyer must:

 

		(a)	to the extent that any of the Business Information relates to the period before Completion, preserve
such Business Information until the expiry of any period prescribed by statute for the retention of that material and two years
from Completion, whichever is the later; and

 

		(b)	during the appropriate period referred to in Clause ‎16.2.3(a),
allow the Seller and/or its advisers or agents, on reasonable notice, reasonable access to the Business Information preserved in
accordance with Clause ‎16.2.3(a) including
for the purpose of copying (at the Seller’s expense) and inspection.

 

		17.	Data protection

 

		17.1	Buyer’s Obligations After Completion

 

Notwithstanding any other provision
of this agreement, from the Completion Date the Buyer will comply with all applicable legislation and provide any required notices
in respect of all Customer Data transferred under this Agreement.

 

		17.2	Buyer’s Indemnity

 

The Buyer must indemnify each Seller
Group Company against all Losses which a Seller Group Company incurs in connection with the processing of the Customer Data by
the Buyer or any employee, agent or sub-contractor of the Buyer, and any reasonable costs which a Seller Group Company incurs in
enforcing its rights under this Clause ‎17.2,
all subject to Clause ‎11.2.

 

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		18.	Covenants of the Parties

 

		18.1	For a period of up to 6 months following the date of the approval to transfer an MA (“Transfer
Date”), the Buyer may continue to sell the Product under the Seller’s livery in the Territory, provided that the
use of such livery is in the manner it was used by the relevant Seller Group Company in the Territory as at the Completion Date
or as otherwise approved in writing by the Seller.

 

		18.2	Following the Transfer Date, as soon as reasonably practicable and in any event no more than 6
months after the Transfer Date the Buyer will ensure that it does not sell the Product under the Seller’s livery, and any
reference to the Seller or any of the Seller’s Affiliates shall be removed from all packaging of the Product and replaced
with the name of the Buyer.

 

		18.3	For all existing purchase orders placed before the MA transfer, for Products to be sold after the
MA transfer, the Seller and Buyer shall jointly discuss and cooperate to ensure that the transition from Seller livery to Buyer
livery for such Products occurs as promptly as reasonably practicable during the Transfer Period.

 

		18.4	Following the Completion Date, the Seller shall not, and shall cause its Affiliates not to:

 

		(a)	register or attempt to register any trade mark included in the Assets in the relevant Territory;
or

 

		(b)	oppose or challenge any application by the Buyer or any of its Affiliates to register such trade
mark in the relevant Territory.

 

		18.5	At the Buyer’s option, the Seller shall use its reasonable endeavours to ensure that the
Buyer can continue the existing relationship with the API suppliers in respect of the Business as applicable.

 

		19.	Confidentiality

 

		19.1	Seller Confidentiality Obligations

 

After Completion, the Seller must:

 

		(a)	not disclose or use the Buyer’s Confidential Information unless it has first obtained the
Buyer’s written permission; and

 

		(b)	ensure that no Seller Group Company discloses or uses the Buyer’s Confidential Information
unless it has first obtained the Buyer’s written permission.

 

		19.2	Buyer’s Confidentiality Obligations

 

After Completion, the Buyer must:

 

		(a)	not disclose or use the Seller Confidential Information unless it has first obtained the Seller’s
written permission; and

 

		(b)	ensure that no Buyer Group Company discloses or uses the Seller Confidential Information unless
it has first obtained the Seller’s written permission.

 

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		19.3	Both Parties’ Confidentiality Obligations

 

A Party must:

 

		19.3.1	not disclose information relating to the negotiation, existence or provisions of a Transaction
Document unless:

 

		(a)	in the case of the Seller it has first obtained the Buyer’s written permission;

 

		(b)	in the case of the Buyer it has first obtained the Seller’s written permission; or

 

		(c)	it is permitted under Clause ‎19.4
or Clause ‎20; and

 

		19.3.2	ensure that no member of its Group discloses information relating to the negotiation, existence
or provisions of a Transaction Document unless it has first obtained the other party’s written permission.

 

		19.4	Permitted Disclosures

 

Clauses ‎19.1,
‎19.2, and ‎19.3
do not apply to a disclosure or use of information if:

 

		(a)	the disclosure or use is required by applicable law, a court of competent jurisdiction or a competent
judicial, governmental, supervisory or regulatory body;

 

		(b)	the disclosure or use is required by a rule of a stock exchange or listing authority on which the
shares or other securities in a member of the disclosing person’s Group are listed or traded;

 

		(c)	the disclosure is made to the directors, officers or senior employees of a member of the disclosing
person’s Group for the purpose of ensuring compliance with the terms of a Transaction Document;

 

		(d)	the disclosure or use is required for the purpose of legal proceedings arising out of a Transaction
Document or the disclosure is required to be made to a Tax Authority in connection with the Tax affairs of a member of the disclosing
person’s Group; or

 

		(e)	the disclosure is made to a professional adviser of the disclosing person, in which case the disclosing
person is responsible for ensuring that the professional adviser complies with the terms of Clause ‎19
as if it were a party to this Agreement.

 

		19.5	Consultation Required Before a Permitted Disclosure

 

The Buyer or the Seller may only
make a disclosure in the circumstances contemplated by Clause ‎19.4(a)
or ‎(b) if, before making the disclosure,
it has consulted with the each other and taken into account the other’s requirements as to the timing, content and manner
of making the disclosure to the extent it is permitted to do so by applicable law or regulation and to the extent it is reasonably
practicable to do so.

 

		19.6	Termination of Confidentiality Agreement

 

With effect from Completion:

 

		(a)	the Confidentiality Agreement terminates; and

 

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		(b)	the Seller waives any right or claim that it may have against the Buyer (or any director, officer,
employee or adviser of the Buyer) arising out of or in connection with the Confidentiality Agreement.

 

		20.	Announcements

 

		20.1	Completion Announcement

 

Following the Completion Date the
Buyer will be permitted to release the Agreed Announcement without needing the Seller’s consent under this Clause ‎20.

 

		20.2	Permission of Other Party Generally Required

 

Subject to Clause ‎20.3,
before and after Completion, a Party must not, unless it has first obtained the other Party’s permission, such permission
not to be unreasonably withheld, delayed or subject to an unreasonable condition.:

 

		(a)	make or send, or permit another person to make or send on its behalf, a public announcement, press
release, circular or other external publicity (in whatever media) regarding the existence or the subject matter of a Transaction
Document; or

 

		(b)	enter into any advertising or marketing in relation to this Agreement.

 

		20.3	Circumstances In Which Permission of Other Party Is
Not Required

 

		20.3.1	Clause ‎20.1
does not apply to an announcement or circular which is required by:

 

		(a)	applicable law, a court of competent jurisdiction or a competent judicial, governmental, supervisory
or regulatory body;

 

		(b)	a rule of a stock exchange or listing authority on which the shares or other securities of a Seller
Group Company or the Buyer are listed or traded; or

 

		(c)	as required by any Health Authority.

 

		20.3.2	Nothing in this Clause ‎20.2
above shall be deemed to restrict or otherwise interfere with the Buyer’s right, post-Completion, to advertise and market
Products and to generally hold itself out as the owner of the Products (always subject to compliance with clause ‎19).

 

		20.3.3	Notwithstanding the aforesaid in Clause ‎20.3.1
above, a Party that is required to make or send an announcement or circular in the circumstances contemplated by Clause ‎20.3.1
must, before making or sending the announcement or circular, consult with the other Party and take into account the other Party’s
requirements as to the timing, content and manner of making the announcement or circular to the extent it is permitted to do so
by applicable law or regulation and to the extent it is reasonably practicable to do so.

 

		21.	Assignment

 

The Buyer is not permitted to assign,
charge or otherwise transfer its rights and obligations under this Agreement without the prior written consent of the Seller, except
that:

 

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		(a)	the Buyer may freely assign its rights and obligations under this Agreement (other than its rights
and obligations under the guarantee in clause 23) to its Affiliate, provided that the Buyer shall notify the Seller of such assignment
in writing as soon as reasonably practicable.

 

		(b)	the Seller may, in its sole discretion, consent to the Buyer assigning its rights and obligations
under the guarantees in clause 23 to the Preferred Guarantor, provided that the Buyer has provided written evidence satisfactory
to the Seller that the Preferred Guarantor has sufficient funding to be able to support the obligations under the guarantee in
clause 23 of this Agreement. The Seller shall act in a commercially reasonable manner in determining whether such evidence is satisfactory
and will not unreasonably delay its decision.

 

		22.	Notices

 

		22.1	Method of Giving a Notice or Other Communication

 

A notice, permission or other communication
under or in connection with this Agreement must be:

 

		(a)	in writing;

 

		(b)	in English;

 

		(c)	signed by or on behalf of the person giving it; and

 

		(d)	delivered by hand or sent by recorded delivery post or by fax to the relevant party to the contact,
address and fax number set out in Clause ‎22.3
(or if otherwise notified by the relevant person under Clause ‎22.7
to such other contact, address or fax number as has been so notified).

 

		22.2	Notice not properly given unless copy also given

 

In the case of
notices only, a copy of any notice sent to a party under or in connection with this Agreement must be delivered by hand or sent
by recorded delivery post or by fax to the person (“copy recipient”) indicated in Clause ‎22.3,
to the contact, address and fax number set out in Clause ‎22.3
(or if otherwise notified by the relevant person under Clause ‎22.7
to such other copy recipient or such other contact, address or fax number as has been so notified). A notice given to a party is
not duly given until both the notice and the copy is given in accordance with this Clause ‎22.

 

		22.3	Addresses

 

The contact, address and fax number
for each party and copy recipient is (unless otherwise notified under Clause ‎22.7):

 

		(a)	in the case of the Seller as follows:

 

	 	Address:	43 Avenue John Fitzgerald Kennedy, L-1855 Luxembourg, Grand-Duchy of Luxembourg
	 	Fax:	+352-28 48 88 53
	 	Attention:	Cahterine Beaujour, Managing Director

 

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with, in the case of notices only,
a copy to the Sellers’ legal department, as follows:

 

	 	Address:	EMEA Legal Department
	 	 	Mylan EMEA S.A.S
	 	 	117 allee des Parcs
	 	 	F – 69800 Saint-Priest Cedex
	 	Fax:	+33/ (0) 4 37 25 79 22
	 	Attention:	
        General Counsel
- Europe; 

 

		(b)	in the case of the Buyer, as follows:

 

	 	Address:	12 East 49th Street, 11th Floor
	 	 	New York, NY 10017 USA
	 	Fax:	+1 (347) 772-3131
	 	Attention:	Daniel Teper

 

With a copy to Pearl Cohen Zedek
Latzer Baratz UK LLP, as follows:

 

	 	Address:	16 Upper Woburn Place
	 	 	London, WC1H 0BS, UK
	 	Fax:	+44-203-031-1298
	 	Attention:	Mark Cohen, Esq.

 

		22.4	Time That Notice or Communication Is Deemed Given

 

Unless there is evidence that it
was received earlier, and except as set out in the final sentence of Clause ‎22.2,
a notice or other communication that complies with Clauses ‎22.1
and 24.2 is deemed given:

 

		(a)	if delivered by hand, at the time of delivery, except as provided in Clause ‎22.5;

 

		(b)	if sent by recorded delivery post, at 9.00 am on the second Business Day after the day of posting;

 

		(c)	if sent by fax, at the time of its transmission, except as provided in Clause ‎22.5.

 

		22.5	Effect of Delivery by Hand or Fax After 6.00 pm or
on a Non-Business Day

 

		22.5.1	If deemed delivery under Clause ‎22.4
of a notice or other communication delivered by hand or sent by fax occurs before 9.00 am on a Business Day, the notice or other
communication is deemed delivered at 9.00 am on that day.

 

		22.5.2	If deemed delivery under Clause ‎22.4
of a notice or other communication delivered by hand or sent by fax occurs after 6.00 pm on a Business Day or on a day which is
not a Business Day, the notice or communication is deemed to have been given at 9.00 am on the next Business Day.

 

		22.6	Relevant Time of Day

 

In this clause, a reference to
time is to local time in the country in which the recipient of the notice or communication is located.

 

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		22.7	Notification of Change in Notice Details

 

A party may notify the other party
of a change to any of the details for it or its copy recipient referred to in Clause ‎22.2.
The notice must comply with the terms of Clauses ‎22.1
and ‎22.2 and must state the date on which
the change is to occur. That date must be on or after the fifth Business Day after the date on which the notice is delivered.

 

		23.	Guarantee

 

		23.1	The Buyer hereby irrevocably and unconditionally:

 

		23.1.1	if the Buyer assigns its rights and obligations under this Agreement (other than its rights and
obligations under this Clause 23) to its Affiliate in accordance with Clause 21(a)

 

		(a)	guarantees to the Seller the full, prompt and complete performance by such Affiliate of all its
obligations under this Agreement; and

 

		(b)	undertakes to the Seller that whenever such Affiliate does not pay any amount when due under or
in connection with this Agreement, that it shall immediately on demand pay that amount as if it were the principal obligor.

 

		23.1.2	in respect of all obligations of the Preferred Guarantor under the Transitional Services Agreement:

 

		(a)	guarantees to the Seller the full, prompt and complete performance by the Preferred Guarantor of
all its obligations under the Transitional Services Agreement; and

 

		(b)	undertakes to the Seller that whenever the Preferred Guarantor does not pay any amount when due
under or in connection with this Agreement, that it shall immediately on demand pay that amount as if it were the principal obligor.

 

		23.2	The guarantees contained in this Clause ‎23
are continuing guarantees and shall remain in force until all the obligations of such Affiliate under this Agreement or the Transitional
Services Agreement (as applicable) have been fully performed and all sums payable by such Affiliate have been fully paid, regardless
of any intermediate payment or discharge in whole or in part. Each guarantee is independent of every other security which the Seller
may at any time hold for the obligations of such Affiliate under this Agreement or the Transitional Services Agreement.

 

		23.3	The obligations of the Buyer under this Clause 23 shall not be affected by any of the circumstances
listed below which, but for this provision, might operate to reduce, release or otherwise exonerate the Buyer from its obligations
or affect such obligations, whether or not known to the Buyer or to the Seller:

 

		23.3.1	any variation of this Agreement or the Transitional Services Agreement or any time, indulgence,
waiver or consent at any time given to such Affiliate or any other person;

 

		23.3.2	any legal limitation, disability, incapacity or other circumstance relating to such Affiliate or
any other person; or

 

		23.3.3	any amendment, novation, supplement or extension of this Agreement or the Transitional Services
Agreement; or

 

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		23.3.4	any irregularity, unenforceability or invalidity of any obligations of such Affiliate under this
Agreement or the Transitional Services Agreement, or the dissolution, amalgamation, reconstruction or insolvency of such Affiliate.

 

		23.4	These guarantees may be enforced by the Seller without the Seller first taking any steps or proceedings
against such Affiliate.

 

		23.5	Any settlement or discharge between the Buyer and the Seller shall be conditional upon no security
or payment to the Seller by such Affiliate or the Buyer, or any other person on behalf of either of them, being avoided or reduced
pursuant to any laws applicable to insolvency. If any security or payment is so avoided or reduced, such Affiliate shall be entitled
to recover the value or amount of the security or payment from the Buyer as if the settlement or discharge had not occurred.

 

		23.6	The Buyer agrees that until the obligations of such Affiliate under this Agreement or the Transitional
Services Agreement (as applicable) have been fully and completely performed and all sums payable by such Affiliate to the Seller
under or pursuant to this Agreement or the Transitional Services Agreement (as applicable) have been paid, it shall not exercise
any rights which it might have by reason of the performance of its obligations under these guarantees:

 

		23.6.1	to be indemnified by such Affiliate;

 

		23.6.2	to claim any contribution from any other guarantor of such Affiliate’s obligations under
this Agreement or the Transitional Services Agreement (as applicable);

 

		23.6.3	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any
rights of the Seller under this Agreement or the Transitional Services Agreement or any other security taken by the Seller pursuant
to, or in connection with, this Agreement or the Transitional Services Agreement; or

 

		23.6.4	to prove or vote as a creditor of such Affiliate or its estate in competition with the Seller.

 

		24.	Further assurance

 

The Parties shall, and shall use
all reasonable endeavours to ensure that any necessary third party will, execute all documents and do all acts and things as any
Party reasonably requires to transfer the Assets in respect of the Business to the Buyer and to give the other the full benefit
of this Agreement.

 

		25.	Costs

 

Except where this Agreement or
another Transaction Document provides otherwise, each party must pay its own costs incurred in connection with the negotiation,
preparation, execution and implementation of each Transaction Document.

 

		26.	Interest on late payment

 

If
a party fails to pay an amount required to be paid under this Agreement when it is due (a “Due
Amount”), that party must pay interest on the Due Amount from and including the due date
for payment up to and including the date of actual payment at the rate per year of 4% above the base lending rate from time to
time of Barclays Bank plc. This rate applies to any period after a judgment as well as before a judgment. Interest accrues on a
daily basis.

 

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		27.	Variation

 

A variation of this Agreement is
valid only if it is in writing and signed by a Party or signed on its behalf by its authorised representative.

 

		28.	Waiver

 

Failure to exercise, or a delay
in exercising, a right or remedy provided by this Agreement or by law does not constitute a waiver of the right or remedy or a
waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Agreement or by law prevents
the further exercise of the right or remedy or the exercise of another right or remedy. A waiver of a breach of this Agreement
does not constitute a waiver of a subsequent or prior breach of this Agreement.

 

		29.	Rights and remedies are cumulative

 

The rights and remedies provided
by this Agreement are cumulative and do not exclude any rights and remedies provided by law.

 

		30.	Counterparts

 

This Agreement may be entered into
in any number of counterparts and any party may enter into this Agreement by executing any counterpart. A counterpart constitutes
an original of this Agreement and all executed counterparts together have the same effect as if each party had executed the same
document.

 

		31.	Effect of Completion

 

Each obligation under this Agreement
which has not been fully performed by Completion remains in force after Completion.

 

		32.	Entire Agreement

 

		32.1	Entire Agreement

 

The Confidentiality Agreement and
the Transaction Documents together set out the entire agreement between the parties in respect of the Transactions and supersede
any previous agreement or arrangement between the parties relating to the subject matter of the Transactions.

 

		32.2	No Reliance on a Statement Outside the Transaction
Documents

 

The Buyer agrees and acknowledges
that it has not relied on or been induced to enter into a Transaction Document by a warranty, statement, representation or undertaking
which is not expressly included in a Transaction Document.

 

		32.3	No Remedy for a Statement Outside The Transaction
Documents

 

		32.3.1	The Buyer has no claim or remedy in respect of a warranty, statement, misrepresentation (whether
negligent or innocent) or undertaking made to it by or on behalf of the Seller in connection with or relating to a Transaction
which is not expressly included in a Transaction Document.

 

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		32.3.2	The only claim or remedy that is available to the Buyer in respect of a warranty, statement, misrepresentation
(whether negligent or innocent) or undertaking made to it by or on behalf of the Seller is a claim for damages for breach of this
Agreement and not termination, rescission, damages in tort, damages under statute or any other remedy.

 

		32.4	Fraud

 

Nothing in this Clause ‎32
limits or excludes liability arising as a result of fraud, willful concealment or willful misconduct.

 

		33.	Invalidity

 

If a provision of this Agreement
is found to be illegal, invalid or unenforceable, then to the extent it is illegal, invalid or unenforceable, that provision will
be given no effect and will be treated as though it were not included in this Agreement, but the validity or enforceability of
the remaining provisions of this Agreement will not be affected.

 

		34.	Debarment

 

In the performance of any of its
obligations pursuant to this Agreement, neither party shall knowingly utilise the services of any employee or other person who
is debarred by the US Food and Drug Administration, any other Health Authority or any other Applicable Laws or is otherwise prohibited
by any Government Authority from participating in any government health program.

 

		35.	Anti-Corruption Undertaking

 

Each party shall comply with, and
will not cause itself or its Affiliates, associates, directors, officers, shareholders, employees, representatives or agents worldwide
to be in violation of the United States Foreign Corrupt Practices Act (the “FCPA”) or the UK Bribery Act 2010.
Without limiting the foregoing, each party will not, directly or indirectly, pay any money to, or offer or give anything of value
to, any “Government Official” as that term is used in the FCPA, in order to obtain or retain business or to secure
any commercial or financial advantage for such Party or any of its Affiliates. Each party undertakes not to bribe Government Officials
or any private companies or individuals.

 

For purposes of this Clause ‎35,
“bribes” shall have the following definition: offering, promising, or giving a financial or other advantage
to another person where it is intended to bring about the improper performance of a relevant function or activity, or to reward
such improper performance; acceptance of the advantage offered, promised or given in itself constitutes improper performance of
a relevant function or activity; and “improper performance” means a breach of expectations that a person will
act in good faith, impartially, or in accordance with a position of trust.

 

		36.	Third party rights

 

		36.1	Exclusion of Contracts (Rights of Third Parties) Act
1999, Subject to Exceptions

 

Except for the Affiliates of a
party (which such Affiliates shall have the right to enforce the provisions of this Agreement under the Contracts (Rights of Third
Parties) Act 1999), any person who is not a party to this Agreement may not enforce or otherwise have the benefit of any provision
of this Agreement.

 

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		36.2	Termination and Variation Without Third Party Permission

 

This Agreement may be rescinded
or terminated and a term may be amended or waived without the permission of the Affiliates of either party even if that takes away
a right which such Affiliate would otherwise have.

 

		36.3	Assignment of Rights under Contracts (Rights of Third
Parties) Act 1999

 

No Affiliate of a party may, without
the prior permission of the Buyer and the Seller, assign, charge or otherwise dispose of any of its rights under this Agreement
or grant or create any third party interest in its rights under this Agreement (including holding an interest on trust for another).

 

		37.	Governing law; Dispute REsolution; service of process

 

		37.1	Governing Law

 

This Agreement, the jurisdiction
clause contained in it and all non-contractual obligations arising in any way whatsoever out of or in connection with this Agreement
are governed by, construed and take effect in accordance with English law.

 

		37.2	Escalation

 

Should any dispute arise out of
or in connection with this Agreement, including any question regarding its existence, validity or termination (a “Dispute”),
the Parties shall escalate the discussion of such Dispute to their respective senior management teams, and shall meet (physically
or via videoconference) in a good faith effort to resolve such Dispute amicably.

 

		37.3	Arbitration

 

Should the Parties fail to resolve
amicably any Dispute within 14 days after initiation of discussions (or such longer time as the Parties may agree), then such Dispute
shall be referred to and finally resolved by arbitration under the LCIA Rules, which Rules are deemed to be incorporated by reference
into this clause save for any waiver of any rights the Parties would otherwise have to any form of appeal or recourse to a court
of law or other judicial authority, which rights are hereby expressly preserved. It is agreed that:

 

		37.3.1	the tribunal shall consist of three arbitrators, appointed as follows:

 

		(a)	the Seller and the Buyer shall each nominate an arbitrator for appointment by the LCIA Court, and
the two arbitrators so nominated shall nominate a third arbitrator who shall act as Chairman of the Tribunal (for the avoidance
of doubt, each party may consult with the arbitrator it has nominated in relation to the nomination of the Chairman); and

 

		(b)	if either of the Seller or the Buyer fails to nominate an arbitrator within 30 days of the nomination
of the second arbitrator, the third arbitrator shall be appointed at the written request of either party by the LCIA Court.

 

		37.3.2	the seat of the arbitration shall be England and the place of arbitration shall be London; and

 

		37.3.3	the language of the arbitration shall be English.

 

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		37.4	Service of Process

 

A document which starts or is otherwise
required to be served in connection with any legal action or proceedings relating to a Dispute (“Process Document”)
may be served in the same way as notices in accordance with Clause ‎22.
This clause does not prevent a Process Document being served in another manner permitted by law.

 

		37.5	Appointment of Agent for Service

 

		37.5.1	The Buyer and Seller must at all times maintain an agent for service of process in England and
Wales.

 

		37.5.2	The Buyer appoints Pearl Cohen Zedek Latzer Baratz UK LLP of 16 Upper Woburn Place, London, WC1H
0BS as its agent to accept service of any Process Document in England.

 

		37.5.3	The Seller appoints Generics (UK) Limited of Station Close, Potters Bar, Hertfordshire, EN6 1TL
as its agent to accept service of any Process Document in England.

 

		37.5.4	Any Process Document will be sufficiently served on the Buyer or Seller if delivered to the agent
at its address for the time being.

 

		37.5.5	Neither the Buyer nor the Seller may revoke the authority of the agent. If the agent ceases to
be able to act as such or to have an address within the jurisdiction of the English courts, the Buyer or the Seller (as applicable)
must promptly appoint another agent (with an address for service within the jurisdiction of the English courts).

 

		37.5.6	The Buyer must notify the Seller within 14 days of any change in the identity or address of its
agent for service of process.

 

		37.5.7	The Seller must notify the Buyer within 14 days of any change in the identity or address of its
agent for service of process.

 

		37.5.8	This Clause ‎37.5
does not prevent a Process Document being served in another manner permitted by law.

 

~
Remainder of page intentionally left blank. Signature Page and Schedules follow. ~

 

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In
Witness Whereof, this
Asset Purchase Agreement has been executed by the Parties’ duly authorized representatives on the Execution Date.

 

	
        SELLER

         

        Meda
        Pharma SARL
	 	 
	 	 	 
	 	 	 
	Signature	 	 
	 	 	 
	Printed Name & Title	 	 

 

	
        BUYER

         

        Immune
        Pharmaceuticals, Inc.
	 	 
	 	 	 
	 	 	 
	Signature	 	 
	 	 	 
	Printed Name & Title	 	 

 

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SCHEDULE
1

 

Territory

 

	
         

        Europe

         

	
        Albania

        Andorra

        Austria

        Belarus

        Belgium

        Bosnia-Herzegovina

        Bulgaria

        Croatia

        Cyprus

        Czech Republic

        Denmark

        Estonia

        Finland

        Former Yugoslav Republic of Macedonia

        France

        Germany

        Greece

        Hungary

        Iceland

        Ireland

        Italy

        Latvia
	
        Liechtenstein

        Lithuania

        Luxembourg

        Malta

        Moldova

        Monaco

        Montenegro

        Norway

        Poland

        Portugal

        Romania

        Russia

        San Marino

        Serbia

        Slovakia

        Slovenia

        Spain

        Sweden

        Switzerland

        The Netherlands

        The United Kingdom

        Turkey

        Ukraine

        Vatican City

	
         

        Other Countries

         

	
        Australia

        Georgia

        Hong Kong

        India

        Indonesia

        People’s Republic of China

        Philippines

        Qatar

        Republic of China (Taiwan)

        Saudi Arabia

        Singapore

        South Korea

        Thailand

        United Arab Emirates
	
        Japan

        Kuwait

        Malaysia

        New Zealand

        Oman

        Pakistan

 

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SCHEDULE 2

 

PART
1

 

Trademarks

 

	Mark	 	Country	 	Status	 	Class	 	Applic No	 	File Date	 	Reg No	 	Reg Date	 	Renewal Date	 
	CEPLENE	 	AU	 	Registered	 	5	 	858297	 	23-Nov-00	 	858297	 	17-May-01	 	23-Nov-20	 
	CEPLENE	 	CH	 	Registered	 	5	 	13973/2000	 	23-Nov-00	 	483420	 	04-Apr-01	 	23-Nov-20	 
	CEPLENE	 	CN	 	Registered	 	5	 	2001045526	 	28-Mar-01	 	1760656	 	07-May-02	 	06-May-22	 
	CEPLENE	 	EM	 	Registered	 	5	 	1965656	 	22-Nov-00	 	001965656	 	22-May-02	 	22-Nov-20	 
	CEPLENE	 	JP	 	Registered	 	5	 	2001-029763	 	30-Mar-01	 	4671668	 	16-May-03	 	16-May-13	 
	CEPLENE	 	LI	 	Registered	 	5	 	13015	 	08-Oct-03	 	13015	 	13-Jan-04	 	08-Oct-13	 
	CEPLENE	 	NO	 	Registered	 	5	 	2003309400	 	07-Oct-03	 	224104	 	01-Sep-04	 	01-Sep-17	 
	CEPLENE	 	NZ	 	Registered	 	5	 	627694	 	07-Oct-03	 	627694	 	24-May-01	 	29-Sep-17	 
	CEPLENE	 	IS	 	Registered	 	5	 	2516/2003	 	06-Oct-03	 	30/2004	 	02-Jan-04	 	02-Jan-24	 

 

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PART 2

 

Patents

 

Europe

 

	Description	 	Number	 	Country	 	Filing Date	 	Issued Date	 
	Syntesis of Histamine Dihydrochloride	 	EP1140857	 	Austria, Belgium, Cyprus, Denmark, Finland, France, Great Britain, Germany, Greece, Ireland, Italy, Liechtenstein, Luxembourg, Monaco, Netherlands, Portugal, Spain, Sweden, Switzerland.	 	12/20/99	 	7/2/08	 

 

OTHER COUNTRIES

 

	Description	 	Number	 	Country	 	Filing Date	 	Issued Date	 
	Syntesis of Histamine Dihydrochloride	 	ZL9981490.3	 	China	 	12/20/99	 	06/30/04	 
	“	 	4139082	 	Japan	 	12/20/99	 	06/13/08	 
	“	 	1243166	 	Taiwan	 	12/23/99	 	11/11/05	 
	“	 	205849	 	India	 	12/20/99	 	04/13/07	 
	“	 	763523	 	Australia	 	12/20/99	 	11/06/03	 
	“	 	512935	 	New Zealand	 	12/20/99	 	12/08/03	 
	“	 	
        02102715.8 (appl. No.)

        1040998 (patent No.)
	 	Hong Kong	 	12/20/99	 	04/24/09	 

 

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PART
3

 

Domain
Names

 

	Mark	 	Country	 	Status	 	Reg Date	 	Renewal Date	 
	ceplene.cn	 	CN	 	Registered	 	22-April-14	 	22-April-17	 
	ceplene.com.cn	 	CN	 	Registered	 	03-Oct-14	 	03-Oct-17	 
	ceplene.eu	 	EU	 	Registered	 	08-Oct-14	 	08-Oct-17	 
	ceplene.nl	 	NL	 	Registered	 	25-Feb-10	 	30-Sept-17	 
	ceplene.de	 	DE	 	Registered	 	17-Oct-12	 	Oct-17	 
	ceplene.se	 	SE	 	Registered	 	25-Feb-10	 	25-Feb-17	 
	ceplene.fr	 	FR	 	Registered	 	25-Feb-10	 	17-Sept-17	 
	ceplene.be	 	BE	 	Registered	 	25-Feb-10	 	18-Sept-17	 
	ceplene.it	 	IT	 	Registered	 	01-March-10	 	19-Sept-17	 
	ceplene.pl	 	PL	 	Registered	 	25-Feb-10	 	25-Feb-17	 
	ceplene.at	 	AT	 	Registered	 	25-Feb-10	 	24-Feb-17	 
	ceplene.ch	 	CH	 	Registered	 	24-Feb-10	 	28-Feb-18	 
	ceplene.dk	 	DK	 	Registered	 	25-Feb-10	 	28-Feb-18	 
	ceplene.es	 	ES	 	Registered	 	25-Feb-10	 	25-Feb-17	 
	ceplene.jp	 	JP	 	Registered	 	03-May-11	 	31-May-17	 

 

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	Mark	 	Generics

Extensions	 	Status	 	Reg Date	 	Renewal Date	 
	ceplene.no	 	NO	 	Registered	 	01-Oct-10	 	08-March-17	 
	ceplene.com	 	COM	 	Registered	 	09-Oct-00	 	09-Oct-17	 
	ceplene.info	 	INFO	 	Registered	 	21-Nov-2013	 	21-Nov-17	 
	ceplene.net	 	NET	 	Registered	 	21-Nov-11	 	21-Nov-17	 
	ceplene.org	 	ORG	 	Registered	 	21-Nov-11	 	21-Nov-17	 
	ceplene.biz	 	BIZ	 	Registered	 	24-May-11	 	24-May-17	 

 

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SCHEDULE 3

 

Regulatory
Applications and Approvals

 

Chronological list of all post-authorisation
submissions and assessments since grant of the Marketing Authorisation: a list of all approved or pending Type IA/IB and Type
II variations, Extensions, Art 61(3) Notifications, USR, EMA Annual Reassessments, procedures under Article 20 of Regulation (EC)
No 726/2004, giving the procedure number, date of submission, date of approval (if approved) and brief description of the change.

 

	Procedure Number	 	Date of

submission	 	Date of approval/

Commission Decision	 	Description of submission
	EMEA/H/C/796/IA/0001	 	10/11/2008	 	21/11/2008	 	Change in the test procedure of finished product
	EMEA/H/C/796/IA/0002	 	03/12/2008	 	17/12/2008	 	
        Change in the name and/or address of a manufacturer
        of the active substance (no. CEP is available)

        Change from TORCAN Chemical Ltd. to Piramal
        Healthcare (Canada)

	EMEA/H/C/796/IA/0003	 	02/07/2009	 	19/08/2009	 	Minor change in the manufacture of finished product editorial correction to the description in MAA of the Sterilization/Depyrogenation process parameters for vials
	EMEA/H/C/796/S/0005	 	04/12/2009	 	29/04/2010	 	1st Annual Reassessment
	EMEA/H/C/796/IB/0007	 	08/04/2010	 	02/06/2010	 	Change in Bulk Hold Time from 30 to 48 hours/ Change in the manufacturing process of the finished product – other variation
	EMEA/H/C/796/IA/0008/G	 	 	 	09/11/2010	 	Grouped variation for quality part
	EMEA/H/C/796/II/0006	 	19/01/2010	 	24/01/2011	 	Update of the SPC and Package Leaflet with a description of how to prepare, dispense, and store interleukin-II, when used with Ceplene

 

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	EMEA/H/C/796/IA/009	 	28/09/2010	 	28/10/2010	 	
        Grouped IA variations:

        1. Change in the name of a quality control site
        of the active ingredient

        2.Change in immediate packaging of the active
        substance

        3.Deletion of a non-significant in-process
        test

	EMEA/H/C/796/S/0010	 	22/11/2010	 	14/04/2011	 	2nd Annual Reassessment
	EMEA/H/C/796/S/0012	 	18/11/2011	 	20/04/2012	 	3rd Annual Reassessment
	EMEA/H/C/796/A20/0011	 	Not known	 	31/05/2012; EC 31/05/2012	 	Pursuant to Art. 20 of Regulation (EC) No. 726/2004, the European Commission requested on 17/11/2011, the opinion of the CHMP on measures necessary to ensure the quality and the safe use of Ceplene further to the inspection findings at the Ben Venue Laboratories (BVL) manufacturing site located in Bedford, Ohio (USA). Final Assessment Report EMA/303396/2012: the CHMP recommended the maintenance of the marketing authorisation for Ceplene subject to the conditions laid down in Annex II of the CHMP opinion.
	EMEA/H/C/796	 	21/05/2012	 	18/12/2012	 	7th PSUR
	EMEA/H/C/796/T/0013	 	18/06/2012	 	24/09/2012; EC 15/10/2012	 	MA Transfer from EpiCept to Meda AB Transfer of Marketing Authorisation and Orphan Drug Designation
	EMEA/H/C/796/S/0014	 	23/11/2012	 	EC 21/03/2014	 	4th Annual Reassessment
	EMEA/H/C/796/R/0015	 	26/12/2012	 	EC 27/08/2013	 	Renewal Application for the Marketing Authorisation
	EMEA/H/C/796/IA/0016	 	04/03/2013	 	26/03/2013	 	C.I.z. other variations: Introduction fo a change in QPPV and update of PSMF Summary
	EMEA/H/C/796/II/17	 	30/12/2013	 	06/02/2015	 	Update-SPC Labelling and PL Based on the safety information available from study EPC2008-02
	EMEA/H/C/796/0019	 	10/06/2013	 	07/11/2013	 	8th PSUR submission
	EMEA/H/C/796/S/0020	 	20/03/2014	 	21/03/2014	 	 5th Annual Reassessment
	EMEA/H/C/796/0021	 	13/06/2014	 	07/11/2014	 	9th PSUR
	EMEA/H/C/796/S/0022	 	28/11/2014	 	26/03/2015	 	6th Annual Reassessment

 

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	EMEA/H/C/796/IB/0023/G	 	03/12/2008	 	30/06/2016	 	Group of variations concerning the replacement of FP manufacturing site
	EMEA/H/C/796/II/24	 	04/06/2015	 	17/09/2015	 	Submission of final study report EPC2008-02
	PSUSA/1610/201504	 	11/06/2015	 	06/11/2015	 	10th Periodic Safety Update EU Single assessment - HISTAMINE
	PSUSA/1610/201604	 	31/05/2016	 	06/11/2016	 	11th Periodic Safety Update EU Single assessment - HISTAMINE
	EMEA/H/C/796/S/0026	 	02/12/2015	 	05/04/2016	 	7th Annual Reassessment
	EMEA/H/C/796/N/28	 	14/07/2016	 	26/07/2016	 	Update of the package leaflet with revised contact details of the local representatives for Estonia, Italy, Spain, Poland and France. Minor change in the package leaflet not connected with the SPC (Art. 61.3 Notification)
	EMEA/H/C/796/IB/0029	 	24/10/2016	 	
        07/11/2011

         
	 	
        A.4 - Administrative change - Change in
        the name and/or address of a manufacturer or an ASMF holder or supplier of the AS, starting material, reagent or
        intermediate used in the manufacture of the AS or manufacturer of a novel excipient Name change for AAI Pharma
        Services to Alcami Carolina Corporation

	EMEA/H/C/796/S/0030	 	30/11/2016	 	 	 	8th Annual Reassessment

 

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SCHEDULE
4

 

Contracts

 

Part
A – Non- Clinical Trial Contracts

 

	Ref.	 	Contract	 	Parties	 	Date	 	Assign /

Termination	 
	1.	 	Contract Manufacturing Agreement	 	(1) The Seller and (2) Labiana Pharmaceuticals SLU	 	25.02.2016	 	Assign 	 
	2.	 	Consultancy contract 	 	
        MEDA Pharma GmbH & Co. KG

        and

        Dr. Oliver Wiedemann
	 	
        08/03/2013

         
	 	Assign 	 
	3.	 	
        Consultancy Agreement

        (as amended)
	 	
        MEDA Pharma GmbH & Co. KG

        and

        Prof. Dr. med. Jochen Greiner
	 	
        05/09/2014

        (amended: 22/04/2016)
	 	Assign 	 
	4.	 	Consultancy Agreement	 	
        MEDA Pharma GmbH & Co. KG

        and

        Kristoffer Hellstrand MD PhD
	 	01/09/2012 expired 31/08/2013	 	Assign	 
	5.	 	Storage Agreement	 	
        MEDA Pharma GmbH & Co. KG

        and

        University of Gothenburg, Department of Clinical
        Virology
	 	 10/10/2013	 	Assign 	 
	6.	 	Storage Agreement	 	
        MEDA Pharma GmbH & Co. KG

        And

        Calvert Laboratories
	 	08/02/2016	 	Assign 	 
	7.	 	Agreement on the support of an investigator-initiated trial	 	
        MEDA Pharma GmbH & Co. KG

        and

        Sahlgrenska University Hospital
	 	31/05/2016	 	Assign 	 
	8.	 	Agreement	 	
        MEDA Pharma GmbH & Co. KG

        and

        University of Cologne

        And

        PD Dr. Karl-Anton Kreuzer
	 	10/02/2012	 	Assign 	 
	9.	 	Agreement	 	
        MEDA Pharma GmbH & Co. KG

        and

        Medizinische Universitaet Wien

         
	 	25/04/2013	 	Assign 	 
	10.	 	
        Agreement (“Vereinbarung”)

         

        (on statistical services)
	 	
        MEDA Pharma GmbH & Co. KG

        and

        Universitaetsklinikum Ulm

         
	 	19/01/2017	 	Assign 	 

 

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	11.	 	
        Agreement

        (“Vereinbarung”)

        

        (on use of data sets)
	 	
        Klinikum der Universitaet Muenchen

        and

        MEDA Pharma GmbH & Co. KG

         

         
	 	25/07/2016	 	Assign	 
	12.	 	
        Agreement (“Vereinbarung”)

         

        (on statistical services)
	 	
        Universitaet Ulm

        and

        Prof. Dr. Jan Beyersmann

        and

        MEDA Pharma GmbH & Co. KG
	 	15/12/2016	 	Assign	 
	13.	 	
        Agreement

         

        (on management and organisation related to
        a non-interventional study)
	 	
        MEDA Pharma GmbH & Co. KG

        and

        Universitaetsklinikum Ulm

         
	 	05/09/2012	 	Assign	 
	14.	 	
        DRAFT

        Agreement

        (“Vereinbarung”)

         

        (on use of data sets)
	 	
        Universitaetsklinikum Ulm,

        And

        Meda Pharma GmbH & Co. KG
	 	Draft form	 	Assign if entered into prior to Completion Date	 
	15.	 	API Supply Agreement and Quality Agreement 	 	
        Piramal Healthcare (Canada)Limited

        and

        Epicept Corporation

        and

        MEDA AB
	 	8 January 2010	 	Assign	 
	16.	 	Assignment and Amendment of Commercial Packaging Agreement and Quality Agreement 	 	
        Catalent UK Packaging Limited

        and

        Epicept Corporation

        and

        MEDA AB
	 	18 June 2012	 	Assign	 

 

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SCHEDULE
4

 

Part
B – Clinical Trial Contracts

 

All the clinical trial contracts related to
the following Institution/ Investigator, all to be assigned :

 

	Ref.	 	Name of Institution/ Investigator (if necessary pharmacy, laboratory, etc...)
	17.	 	IDDI Inc and Epicept Corporation
	18.	 	Parexel International Limited and Epicept Corporation
	19.	 	University of Gothenburg
	20.	 	Ecron Acunova GmbH
	21.	 	Lille University Regional Hospital Center (the Lille C.H.R.U)
	22.	 	Icon Clinical Research Limited
	23.	 	
        Sahlgrenska University Hospital Gothenburg,
        Sweden/ Dr. Mats Brune

        Pharmacy: Apoteket Farmaci AB, Pharmacy at Sahlgrenska
        University Hospital

        Pharmacy: Apoteket Produktion & Laboratorier
        AB (APL)

	24.	 	Dipartimento di Biotecnologie Cellulari ed Ematologia, Policlinico Umberto I, Università `La Sapienza', Rome, Italy / Dr. Robin Foa
	25.	 	
        AZ St. – Jan Brugge – Oostend AV,
        Brugge, Belgium / Dr. L.D.L. Selleslag

        Pharmacy: AZ St. – Jan Brugge –
        Pharmacy Department

        Laboratory: Laboratorium Hematologie, AZ St.
        Jan AV

	26.	 	
        Akademiska Sjukhuset (Uppsala University Hospital),
        Sweden / Dr. Martin Höglund

        Pharmacy: Apoteket Farmacy AB, Hospital Pharmacy,
        Uppsala University Hospital

	27.	 	L’Institut Paoli Calmettes, Marseille, France / Dr. Norbert Vey
	28.	 	Clinica Ematologia della Fondazione IRCCS Policlinico S. Matteo di Pavia, Italy / Dr. Carlo Castagnola
	29.	 	Azienda Ospedaliero Universitaria « Consorziale Policlinico » di Bari / Prof. Giorgina Specchia
	30.	 	
        Norrland University Hospital, Umea, Sweden /
        Dr. Anders Wahlin

        Pharmacy: Hospital Pharmacy, Norrland’s
        University Hospital

	31.	 	
        Karolinska University Hospital-Huddinge, Stockholm,
        Sweden / Dr. Lars Möllgard,

        Dr. Sören Lehmann

        Pharmacy: Apoteket Farmacy AB, Hospital Pharmacy
        Huddinge

        Pharmacy: Apotek Produktion & Laboratorier
        AB (APL)

	32.	 	Hospital Universitario de Salamanca, Spain / Dr. Belén Vidriales Vicente
	33.	 	Azienda Ospedaliero Universitario San Martino, Genua, Italy / Dr. Angelo Carella
	34.	 	A.O.R.N. “Antonio Cardarelli” Neapel, Italy / Dr. Felicetto Ferrara
	35.	 	
        Kings College Hospital NHS Foundation Trust
        of King’s College Hospital, London, UK / Prof. Ghulam J. Mufti

        Pharmacy: Guy’s and St Thomas’s
        NHS Foundation Trust of Guy’s Hospital

	36.	 	Azienda Ospedaliera Ospedali Riuniti Villa Sofia Cervello, Palermo, Italien / Dr. Francesco Fabiano
	37.	 	Fundación para la Investigación Biomédica del Hospital Universitarion Ramón y Cajal, Madrid, Spain / D. Javier Maldonada González Lopez
	38.	 	Hull and East Yorkshire Hospitals NHS Trust, Castle Hill Hospital, East Yorshire, UK / Prof. Sarah Ali
	39.	 	Dipartimento di Biochimica e Biotecnologie Mediche – Universitá degli Studi die Napoli Federico II, Napoli, Italy / Dr. Fabrizio Pane
	40.	 	Royal Marsden NHS Foundation Trust of Fulham Road, Sutton Surrey, UK / Dr. Mark Ethell
	41.	 	Centre Hospitalier André Mignot, Service Hématologie, Le Chesnay, France / Dr. Sylvie Castaigne
	42.	 	Association Locale Angevine de Recherche Médicale et d’Etude, CHU ANGERS, Angers, France / Prof. M. Hunault Berger

 

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	43.	 	
        Ryhov County Hospital, Jönköping,
        Sweden / Dr. Jesper Aagesen

        Pharmacy: Apoteket Farmaci vid Iänssjukhuset
        Ryhov

	44.	 	
        L’Association pour L’étude
        des Maladies du Sang sis à Service d’Hématologie Clinique de l’Hôpital, Hôpital Saint Antoine,
        Paris, France / Prof. Jean-Pierre Marie and Dr. Anne Vekhoff

        Public Assistance – Paris Hospitals (AP-HP),
        a public healthcare establishment, based at 3, Avenue Victoria, Paris 4ème, Clinical Research and Development (DRCD) Department,
        Carré Historique de l’Hôpital Saint-Louis, 1 Avenue Claude Vellefaux, 75010 Paris

	45.	 	
        Falu Lasarett, Falun, Sweden / Dr. Kristina
        Wallmann

        Pharmacy: Apoteket Falu Lasarett

	46.	 	
        Skane University Hospital in Lund, Sweden /
        Dr. Gunnar Juliusson

        Pharmacy: Apoteket Sjukhusapoteket Lund

	47.	 	
        Sundsvall Hospital, Sundsvall, Sweden / Dr.
        Jonas Wallvik

        Pharmacy: Sjukhusapoteket Sundsvall

	48.	 	
        Hopital Henri Mondor, Creteil, France / Dr.
        C. Pautas

        L’Assistance Publique (Convention de Recherche)

	49.	 	CHU Dijon – Hopital d’Enfants – Service d’hématologie Clinique, Dijon, France / Dr. D. Caillot
	50.	 	
        Hématologie et Oncologie Médicale
        Groupe Hospitalo – Universitaire Caremeau, Nimes, France / Dr. Eric Jourdan

        Le Centra Hospitalier Universitaire de Nimes

	51.	 	Centre Hospitalier de Mulhouse, France / Dr. Ojeda-Uribe
	52.	 	Instituit Cata d’Oncologia Hospital U Germans Trias I Pujol, University Hospital, Badalona, Spain / Dr. Alberto Oriol Rocafiguera

 

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SCHEDULE
5

 

Completion
Obligations

 

		1.	Seller obligations

 

On Completion:

 

		1.1	the Seller will deliver, or procure the delivery, in each case, to the Buyer of the following:

 

		(a)	the counter-part of the Transitional Services Agreement duly executed by the Seller;

 

		(b)	the counter-part of the Termination Agreement duly executed by the Seller; and

 

		(c)	the duly executed Disclosure Letter; and

 

		(d)	the duly executed IP Assignments.

 

		1.2	The Seller shall release to the Buyer all of the Business Information that relates to the Business.

 

		1.3	The Seller shall send the Assignment Notice to the relevant parties to the Contracts.

 

		1.4	The Seller shall comply with Schedule 9 in
respect of the Dossier and the Documentation.

 

		2.	Buyer’s obligations

 

On Completion, the Buyer must:

 

		2.1	deliver to the Seller the counterpart of the Termination Agreement duly executed by the relevant
Buyer Group Company;

 

		2.2	deliver to the Seller the counterpart of the Disclosure Letter duly executed by the Buyer;

 

		2.3	deliver to the Seller the counterpart of the Transitional Services Agreement duly executed by the
relevant Buyer Group Company; and

 

		2.4	a valid power of attorney or such other evidence reasonably satisfactory to the Seller that the
Buyer and each relevant Buyer Group Company are authorised to execute this Agreement and any other Transaction Document.

 

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SCHEDULE
6

 

Seller
Warranties

 

		1.	Enforceability of Transaction Documents

 

		1.1	Capacity and Authority

 

The Seller:

 

		(a)	is a company duly incorporated, validly existing and in good standing under the law of the country
of its incorporation;

 

		(b)	has the right, power and authority to enter into and perform its obligations under each Transaction
Document to be entered into by it on or after the Completion Date; and

 

		(c)	has taken all necessary corporate or other action to authorise the execution of, and performance
by it of its obligations under each Transaction Document.

 

		1.2	Binding Obligation

 

Each Transaction Document has been
duly and validly executed by the Seller and assuming due authorisation, execution and delivery by the Buyer or relevant Buyer Group
Company, constitutes a valid and binding obligation of such Seller in accordance with its terms, except as such enforcement may
be limited by the effect of bankruptcy, insolvency, reorganisation, moratorium or other laws affecting or relating to the rights
of creditors generally or the rules governing the availability of equitable remedies and general principles of equity, regardless
of whether considered in a proceeding at equity or at law.

 

		1.3	No Breach

 

Neither the execution (and in the
case of a deed, delivery) by the Seller of any Transaction Document nor the performance by the Seller of any of its obligations
under the Transaction Documents shall result in a breach:

 

		(a)	of any provision in the constitutional documents of the Seller and/or any Asset Seller; or

 

		(b)	of, or constitute a default under, any instrument by which the Seller is bound including any agreement
or arrangement between itself, a Seller Group Company and any third party; or

 

		(c)	of any applicable law, or of any order or judgement of a court, tribunal or governmental or regulatory
body (of the United Kingdom or elsewhere) which is binding on the Seller and/or any Asset Seller.

 

		1.4	Winding Up, Insolvency, etc.

 

No:

 

		(a)	resolution has been passed in relation to the Seller and/or any Asset Seller;

 

		(b)	step has been taken in relation to the Seller and/or any Asset Seller; or

 

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		(c)	legal proceedings have been started, or threatened, against the Seller and/or any Asset Seller,

 

for its winding-up or dissolution,
or for the appointment of a liquidator, receiver, administrator, administrative receiver or similar officer over any or all of
its assets.

 

		2.	Ownership of assets

 

		2.1	Exclusions from Title Warranties

 

The warranty
in Paragraph ‎2.2 does not apply to the:

 

		(a)	Intellectual Property; or

 

		(b)	Inventory that a Seller Group Company has sold or will sell in the normal operation of the Business.

 

		2.2	Ownership

 

Each of the Assets is solely legally
and beneficially owned by the relevant Asset Seller, free from all Encumbrances, and subject to all of the Buyer Warranties being
correct and the Buyer complying with the covenants in this Agreement and the filing of all notices and receipt of all necessary
Consents, immediately following the Completion Date the Buyer will be vested with good and valid title in all of the Assets of
the Business, free from all Encumbrances.

 

		3.	Litigation

 

There are no material legal, administrative,
arbitral or other proceedings, claims, suits, actions or governmental or regulatory investigations or inquiries of any nature that
are, to the knowledge of the Seller, pending or threatened against or relating to the Seller and/or any Asset Seller in connection
with the Assets or the Business Obligations as of the Completion Date.

 

		4.	The Dossier

 

The Dossier has been lawfully compiled
by a Seller Group Company in compliance with industry norms and all documents contained therein are true, correct and complete.

 

		5.	The Contracts

 

		5.1	So far as the Seller is aware, each Contract is valid, binding and in full force and effect, and
is enforceable against the Relevant Seller Group Company in accordance with its terms, except where such enforcement may be limited
by:

 

		(a)	the effect of bankruptcy, insolvency, reorganisation, receivership, conservatorship, arrangement,
moratorium or other laws affecting or relating to the rights of creditors generally; or

 

		(b)	the rules governing the availability of specific performance, injunctive relief or other equitable
remedies and general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

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		5.2	The Contracts listed in Schedule 4 are all
of the Seller Group Companies’ existing contracts that concern the Assets.

 

		6.	Business Intellectual Property

 

		6.1	Parts 1 and 2 of Schedule
2 contain, collectively, a complete list of all the Registered Intellectual Property; The Disclosure Letter contains
details of all material IP Arrangements.

 

		6.2	Save for the Intellectual Property licensed to the Seller or an Asset Seller under an IP Arrangement
identified in the Disclosure Letter, the Registered Intellectual Property is wholly owned (legally and beneficially) by the Seller
or an Asset Seller (as applicable), free from Encumbrances.

 

		6.3	The manufacturing, marketing, and/or commercialisation of the Products does not rely on any third
party Intellectual Property rights other than the licences disclosed in the Disclosure Letter.

 

		6.4	In the last three years, no written notice or allegation has been received by the Seller or an
Asset Seller that its commercialisation of the Products is, or may be, infringing on and/or misappropriating third party Intellectual
Property.

 

		6.5	So far as the Seller is aware, none of the manufacturing and/or commercialization activities regarding
the Products and undertaken in the Territory where the Product is registered infringe upon any third party Intellectual Property.

 

		6.6	So far as the Seller is aware, in the three years ending on the Execution Date, no person has:

 

		6.6.1	infringed or threatened to infringe; or

 

		6.6.2	used except under a voluntary written licence,

 

the Intellectual
Property sold hereunder as part of the Assets.

 

		6.7	No limitation on the use, enforceability, validity or ownership of the Registered Intellectual
Property has been registered or applied for and no application to revoke, or challenge to, the validity or ownership of any Registered
Intellectual Property has been made at any intellectual property registry and no notice or indication has been received by the
Seller that such an application or challenge is likely to be made.

 

		6.8	So far as the Seller is aware, the Intellectual
Property and Meda Know-How included in the Assets or licensed pursuant to Clause 18.1 constitutes all Intellectual Property and
Meda Know-How required for the manufacturing, marketing and commercialization of the Products in the Territory.

 

		7.	Regulatory applications and approvals

 

		7.1	Schedule 3 contains a Chronological list
of all post-authorisation submissions since grant of the Marketing Authorisation.

 

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		8.	Full Disclosure

 

So far as the Seller is aware,
the information contained within the Data Stick is accurate and complete.

 

		9.	MISCELLANEOUS

 

		9.1	Inventory held on the Signing Date is at customary levels in the ordinary course of business, on
a basis consistent with past practice during the twelve months immediately prior to the Completion Date.

 

		9.2	So far as the Seller is aware, the Saleable Inventory complies fully, and will on sale in the ordinary
and usual course of business comply fully, with all Applicable Laws and standards (including British and European Union Standards).

 

		9.3	The Seller is not aware of any third party claims regarding the efficacy, safety, or use of the
Product.

 

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SCHEDULE
7

 

Buyer
Warranties

 

		1.	Enforceability of Transaction Documents

 

		1.1	Capacity and Authority

 

The Buyer:

 

		1.1.1	is a company duly incorporated, validly existing and in good standing under the law of the country
of its incorporation;

 

		1.1.2	has the right, power and authority to enter into and perform its obligations under each Transaction
Document to be entered into by it on or after the Completion Date; and

 

		1.1.3	has taken all necessary corporate or other action to authorise the execution of, and performance
by it of its obligations under each Transaction Document.

 

		1.2	Binding obligation

 

Each Transaction Document has been
duly and validly executed by the Buyer and assuming due authorisation, execution and delivery by the Seller, constitutes a valid
and binding obligation of the Buyer in accordance with its terms, except as such enforcement may be limited by the effect of bankruptcy,
insolvency, reorganisation, moratorium or other laws affecting or relating to the rights of creditors generally or the rules governing
the availability of equitable remedies and general principles of equity, regardless of whether considered in a proceeding at equity
or at law.

 

		1.3	No Breach

 

Neither the execution (and in the
case of a deed, delivery) by the Buyer of a Transaction Document nor the performance by the Buyer of any of its obligations under
a Transaction Document shall result in a breach:

 

		(a)	of any provision in the constitutional documents of the Buyer; or

 

		(b)	of, or constitute a default under, any instrument by which the Buyer is bound including any agreement
or arrangement between itself, a Buyer Group Company and any third party; or

 

		(c)	an order or judgement of a court, tribunal or governmental or regulatory body (of the United Kingdom
or elsewhere) which is binding on the Buyer.

 

		1.4	Winding up, Insolvency, etc.

 

No resolution has been passed in
relation to the Buyer; no step has been taken in relation to the Buyer; nor have any legal proceedings been started or threatened
against the Buyer, for its winding-up or dissolution, or for the appointment of a liquidator, receiver, administrator, administrative
receiver or similar officer over any or all of its assets.

 

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SCHEDULE 8

 

Limitations
on Seller’s Liability

 

		1.	Maximum total liability of Seller

 

The total amount of the Seller’s
liability in respect of all Claims (including elements relating to interest and costs) shall not exceed $2,500,000.

 

		2.	Thresholds for Seller’s liability

 

		2.1	The Seller will not be liable in respect of a Claim unless the total liability of the Seller in
respect of all Claims notified by the Buyer to the Seller in accordance with paragraph 3 (excluding any Claims for which the Seller
is not liable because of Paragraph 2.2), would (if the Claim succeeded) exceed $50,000, in which case, the Seller’s liability
will be ‘back to the first dollar’.

 

		2.2	The following amounts are to be discounted in calculating the amount of the Seller’s liability
for the purposes of this Paragraph 2:

 

		(a)	amounts for which the Seller has no liability or by which its liability is reduced as a result
of the operation of the other provisions of this Schedule 8; or

 

		(b)	amounts which are paid to the Seller as a result of the operation of Paragraph 5.3 of this Schedule 8.

 

		3.	Time limits for Claims

 

The Seller will not be liable in
respect of a Claim unless the Buyer has:

 

		(a)	served a written notice on the Seller on or before the second anniversary of the Completion Date,
which sets out those details of the Claim that the Buyer has, including the Buyer’s then best estimate of the amount of the
Claim; and

 

		(b)	properly pursued resolution of the Dispute underlying the Claim by arbitration pursuant to Clause
‎37.3 to the Agreement, within six months of serving the written notice described in Paragraph 3(a) of this Schedule
8.

 

		4.	No double recovery

 

The Seller will not be liable in
respect of a Claim to the extent that the loss that is the subject of the Claim has already been recovered in respect of another
Claim.

 

		5.	Recovery from insurers and other third parties

 

		5.1	If the Buyer has a right of recovery or indemnity against a person, including an insurer, in respect
(in whole or in part) of a matter which has given rise to, or could give rise to, a Claim (a “right of recovery”),
the Buyer must:

 

		5.1.1	notify the Seller of the right of recovery as soon as practicable following it coming to the notice
of the Buyer or to the notice of any member of the Buyer’s Group; and

 

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		5.1.2	use reasonable endeavors to exercise and enforce each right of recovery in full.

 

		5.2	The Seller will not be liable in respect of a Claim to the extent that the Buyer:

 

		5.2.1	has recovered from a third party, including an insurer, an amount which relates to the matter that
gave rise to the Claim (in whole or in part); or

 

		5.2.2	has a right of recovery under a policy of insurance in respect of the matter that gave rise to
the Claim (in whole or in part).

 

		5.3	If the Seller pays an amount to the Buyer in respect of a Claim and the Buyer subsequently recovers
from a third party (including an insurer) an amount which relates (in whole or in part) to the matter that gave rise to the Claim,
the Buyer must notify the Seller of that fact and the amount recovered and:

 

		5.3.1	if the amount paid by the Seller to the Buyer is less than the amount recovered from the third
party, the Buyer must pay the Seller an amount equal to the amount that the Seller paid to the Buyer; or

 

		5.3.2	if the amount paid by the Seller to the Buyer is more than the amount recovered from the third
party, the Buyer must pay the Seller an amount equal to the amount recovered from the third party.

 

		6.	Conduct of claims

 

		6.1	If the Buyer becomes aware of any fact, matter or circumstance, which in either case may result
in the Buyer being entitled to pursue a Claim against the Seller (each a “Relevant Matter”), the Buyer shall
be subject to the following requirements:

 

		6.1.1	The Buyer must notify the Seller of any Relevant Matter as soon as practicable following it coming
to the notice of the Buyer or to the notice of any member of the Buyer Group.

 

		6.1.2	The Buyer must give the Seller or its duly authorised representatives such assistance as the Seller
may reasonably require, and must give the Seller and its advisers access to (and permission to take copies of) all relevant documents
and correspondence in order to allow the Seller to investigate the Relevant Matter and take the actions referred to in this Paragraph
6.1.

 

		6.1.3	The Buyer must keep the Seller fully informed as to the progress of the Relevant Matter including
the receipt of any material communications.

 

		6.1.4	If requested to do so by the Seller, the Buyer must allow the Seller to assume sole conduct in
the name of the Buyer of the defense and / or settlement of such matter and use professional advisers chosen by the Seller, at
the Sellers’ sole risk and cost. Any legal costs awarded or recovered by the Buyer following any Claim having being conducted
and paid for by the Seller shall on receipt by the Buyer be transferred to the Seller in accordance with Clause 3.3.2.

 

		6.1.5	The Buyer must not admit any liability or make or agree any payment or compromise in respect of
any Relevant Matter without first obtaining the written consent of the Seller, such consent not to be unreasonably withheld, conditioned,
delayed or denied.

 

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		6.2	Notwithstanding the aforesaid in Paragraph 6.1.4 of this Schedule 8
above, where the Relevant Matter is a Third Party claim exceeding in value the cap on Seller’s liability as set forth in
Paragraph 1 of this Schedule 8 above, the Buyer may in its sole discretion
decide that the provisions of said Paragraph 6.1.4 shall not apply, by written notice to Seller. If so decided by Buyer, then instead
of the rights Seller would otherwise have under said Paragraph 6.1.4, the Seller may appoint (at its sole cost and expense) separate
counsel, who subject to customary confidentiality undertakings shall be allowed access to Buyer’s appointed counsel and documents
relevant to the case, and who may offer advice and consultation to Buyer’s appointed counsel. The provisions of Paragraph
6.1 (other than Paragraph 6.1.4) of this Schedule 8 shall continue to
apply.

 

		7.	Contingent Claims

 

		7.1	If a Claim arises in connection with a contingent liability of the Buyer, the Seller will not be
liable to make any payment in respect of that Claim unless the Buyer has become finally liable to make payment in respect of the
contingent liability before the third anniversary of the Completion Date.

 

		8.	Matters capable of remedy

 

If
a fact or circumstance that gives rise to a Claim is curable by the Seller or a Seller Group Company, the Seller will not be liable
in respect of that Claim to the extent that it cures the relevant breach within 60 days following notification of the fact or circumstance
by the Buyer to the Seller.

 

		9.	Buyer’s obligation to mitigate

 

Nothing in this Schedule
8 limits the Buyer’s general obligation at law to mitigate loss or damage resulting from a fact, matter or circumstance
that gives rise to a Claim.

 

		10.	Subsequent events

 

The Seller will not be liable in
respect of a Claim, to the extent that the Claim is attributable to or increased by:

 

		(a)	an act or thing done or omitted to be done (including failure to notify the Seller as soon as practicable
in accordance with paragraph 6.1.1):

 

		(i)	at any time before Completion with the permission of the Buyer; or

 

		(ii)	under the terms of a Transaction Document;

 

		(b)	a voluntary act, omission, transaction or arrangement of the Buyer or another member of the Buyer
Group on or after Completion otherwise than in the normal and usual course of the Business as carried on before Completion;

 

		(c)	an admission of liability made after the Completion Date by the Buyer or another member of the
Buyer’s Group;

 

		(d)	the passing of, or a change in, a law or regulation or in its interpretation or administration
by the English courts or a regulatory authority (whether or not having the force of law) after the Completion Date (whether or
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		(e)	a change in an accounting or Tax policy or practice or length of any accounting period of the Buyer
introduced or having effect after Completion.

 

		11.	General

 

		11.1	Nothing in this Schedule 8 has the effect
of limiting or restricting any liability of the Seller in respect of a Claim arising as a result of any fraud.

 

		11.2	The Seller will not be liable for any:

 

		(a)	loss of profit;

 

		(b)	loss of business;

 

		(c)	loss of contract; or

 

		(d)	indirect or consequential loss or damages incurred by the Buyer in respect of a Claim.

 

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SCHEDULE
9

 

Transfer
of Dossier, MAs and Orphan Drug Designation

 

		1.	In respect of the Business, the Seller shall transmit a copy of the Dossier and the Documentation,
including without limitation all documents necessary for the Buyer to obtain the MA and Orphan Drug Designation based on the Dossier,
within 30 days from Closing.

 

		2.	If available, the Dossier shall be delivered electronically in the Common Technical Document (eCTD
or particular NeeS as requested by each competent Health Authority) format suitable for electronic regulatory submissions and in
an editable electronic format, or else in the format as available. With respect to the Product, the Seller shall keep copies of
the Dossier and the Documentation until the transfer of the MA and the Orphan Drug Designation to the Buyer is effective and as
long as it may reasonably require in order to fulfil its legal obligations as a former holder of the MA and the Orphan Drug Designation.

 

		3.	Transfer of existing MAs (MA granted) and Orphan Drug Designation. With respect to each
MA and the Orphan Drug Designation that is to be transferred to the Buyer in respect of the Business, the Buyer shall, with the
support of the Seller, initiate the MA and the Orphan Drug Designation transfer with the relevant Health Authorities
as soon as reasonably practicable after receipt by the Buyer of the Dossier from the Seller and shall execute and deliver
or submit to Governmental Authorities all necessary documents and take such further steps as may reasonably be required by the
Buyer to ensure the orderly transfer. The Seller shall cooperate with the Buyer and provide all assistance which the Buyer reasonably
requires to give effect to this paragraph 3 and in order to cause the Buyer and/or a Buyer Group Company to be appointed as holder
of the MA and the Orphan Drug Designation. The Buyer shall ensure that it fulfills all requirements under Applicable Laws in order
to receive the MA and the Orphan Drug Designation, to be the holder of MA and the Orphan Drug Designation and to be able to sell
the Product under the MA (including holding any regulatory permits, in particular a regulatory license to wholesale products, if
required) and Orphan Drug Designation, and will provide evidence in this regard to Health Authorities, if required. Upon effective
transfer of the MA and the Orphan Drug Designation, the Buyer shall be entitled to market the Product under a trade mark of the
Buyer’s choosing or under the international non-proprietary name.

 

		4.	Upon Completion of the transfer of the relevant MA’s or on-going procedure and the Orphan
Drug Designation in the name of the Buyer (or as it directs), the Buyer shall be solely responsible for MAs or on-going procedure
or the Orphan Drug Designation and their maintenance, defence and renewal, as the case may be.

 

		5.	The Buyer shall use best efforts to complete the transfer of MA and the Orphan Drug Designation
to the Buyer, and the Seller shall cooperate with the Buyer to complete the transfer of the MA and the Orphan Drug Designation,
as soon as reasonably practicable and in any event within the timelines as set forth per the Product. The Seller shall not be liable
for any damages or costs caused by any delay to transfer the MA and the Orphan Drug Designation if such delay is caused by or can
reasonably be attributed to the conduct of the Buyer. The Seller shall hold and maintain the MA and the Orphan Drug Designation
for a period of up to twenty-four (24) months following the Completion Date. Thereafter, and notwithstanding anything to the contrary
contained herein, the Seller shall be entitled to withdraw the MA the Orphan Drug Designation. If the transfer of any MA or the
Orphan Drug Designation in the name of the Buyer (or as it directs) is not achieved within such time period, the Buyer may submit
a new application for such a marketing authorisation or Orphan Drug Designation.

 

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		6.	The Buyer shall bear the cost of the transfer of the registration to be paid by a Seller Group
Company to the Health Authorities in connection with the MA and the Orphan Drug Designation as described herein, including any
fees that the Seller pays on the Buyer’s behalf. The Seller shall invoice such aforementioned registration fees, cost and
expenses to the Buyer. All regulatory costs that are to be charged to the Buyer in accordance with the terms hereof must be presented
to the Buyer on stand-alone invoices.

 

		7.	RECALLS

 

		7.1	In relation to Products containing the Seller’s marks, name or logo released and/or commercialized
before or after Completion, while the Seller was still the related MA Holder, the Seller may decide to initiate a recall for commercial
reasons and in accordance with best industry practices and the Buyer shall cooperate in good faith in connection therewith.

 

		7.2	In case of recall or withdrawal from the market ordered by a Health Authority after Completion
for Products containing the Seller’s marks, name or logo and if the Seller did not chose to initiate and/or carry out the
recall itself, the Buyer shall be assigned the responsibility to carry out such recall (on behalf of the Seller) in accordance
with best industry practices and the Seller shall cooperate in all reasonable respects in connection therewith and make available
for inspection all necessary information.

 

		7.3	Cost Allocation of Recalls

 

		(a)	To the extent that a recall is effected due to a regulatory change occurring after the Completion
Date, and not due to any flaws in the Products or their packaging, then the Buyer will bear the full cost of the recall.
If a recall is effected during the first year following the Completion Date due to flaws in the Products or their packaging and
a Claim for breach of the Seller Warranties in respect of such flaw is not Resolved in favor of the Buyer, the Buyer will bear
the cost of such recall. The Buyer will also bear the full cost of any recall occurring after the second anniversary of the Completion
Date, regardless of the reason for such recall.

 

		(b)	If a recall is effected during the first year following Completion, as a direct result of a flaw
in the Products or their packaging that existed prior to the Completion Date, then the Seller will bear all reasonable costs of
the recall. If a recall is effected during the first two years following the Completion Date, for any reason that constitutes a
breach of the Seller Warranties, then on a Claim for breach of the Seller Warranties being Resolved in favor of the Buyer the Seller
will bear all reasonable costs of such recall.

 

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SCHEDULE
10

 

Earn Out Payments

 

		1.	Interpretation

 

In this schedule the following
definitions apply:

 

“Accounting
Standards” shall mean, with respect to a person, then current generally accepted accounting principles applied by such
person, whether U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards.

 

“Dispute Notice”
has the meaning given in paragraph 2.5;

 

“Earn Out Accounts”
means, in respect of each Earn Out Period, the statutory accounts of each Buyer Group Company who has sold the Product during such
Earn Out Period showing the Earn Out Sales achieved for that Earn Out Period and prepared in accordance with Paragraph ‎2 of
this Schedule and which become final and binding in accordance with (as appropriate) Paragraph ‎3.4, ‎3.6 or ‎4.7 of
this Schedule 10;

 

“Earn Out Agreement Date”
means the date on which the Earn Out Accounts become final and binding in accordance with (as appropriate) Paragraph ‎3.4,
‎3.6 or ‎4.7 of this Schedule 10;

 

“Earn
Out Consideration” means the aggregate of the Earn Out Payments;

 

“Earn
Out Payments” means, for each Earn Out Period, $1,500,000;

 

“Earn Out Period”
means either the First Earn Out period or the Second Earn Out Period, as applicable;

 

“Earn Out Sales”
means, in relation to the each Earn Out Period the Net Selling Price as shown by the relevant Earn Out Accounts;

 

“First Earn Out Period”
means the period of 12 months starting on the date that is the third anniversary of the Completion Date;

 

“Gross Selling Price”
shall mean the Buyer’s ex factory price (i.e., the gross amount invoiced by the Buyer), during the applicable Earn Out Period,
for sales of Product (excluding samples and free goods) in the Territory to non-Affiliate customers (e.g., wholesalers or other
buying groups, health insurance carriers, governmental agencies or other institutions), excluding VAT;

 

“Net Selling Price”
shall mean the Gross Selling Price reduced by:

 

		(a)	statutory and legal discounts and/or price structure, trade and quantity discounts, rebates, credits
and allowances in accordance with industry standards and Applicable Laws, and Accounting Standards; and

 

		(b)	credits or allowances actually granted on account of rejections, returns, reductions granted to
wholesalers, buying groups, health insurance, carriers, governmental agencies, and other institutions; and 

 

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		(c)	Value Added Tax and any other applicable taxes or contributions defined by local regulation; and

 

“Second Earn Out Period”
means the period of 12 months starting on the date that is the fourth anniversary of the Completion Date.

 

		2.	Basis of preparation of the Earn Out Accounts

 

The Earn Out Accounts will be drawn
up in accordance with the Accounting Standards.

 

		3.	Preparation of Earn Out Accounts

 

		3.1	The Buyer must prepare, or must procure the preparation of, and deliver (in accordance with the
provisions of Clause ‎21 (Notices)) to the
Seller draft Earn Out Accounts as soon as practicable following the end of the Earn Out Period to which they relate and in any
event not later than 2 months after the end of such period.

 

		3.2	The Seller will have 20 Business Days (starting on the first Business Day after delivery of the
draft Earn Out Accounts (“Objection Period”)), to agree or dispute the draft Earn Out Accounts. If the Seller
disputes the draft Earn Out Accounts it must, within the Objection Period, serve on the Buyer a notice to that effect setting out,
in reasonable detail, each area in dispute (“Dispute Notice”).

 

		3.3	The Buyer must procure that the Seller is given such assistance and access to information as may
be reasonably requested by the Seller for the purposes of determining, within the Objection Period, whether the draft Earn Out
Accounts have been properly prepared.

 

		3.4	If the Seller has not delivered a Dispute Notice to the Buyer during the Objection Period or the
Seller serves written notice on the Buyer that it agrees with the draft Earn Out Accounts (an “Acceptance Notice”),
the draft Earn Out Accounts will be, in respect of the Earn Out Period in question, final and binding on the Buyer and the Seller
on the expiry of the Objection Period.

 

		3.5	If the Seller serves a Dispute Notice, the Buyer and the Seller must use their reasonable endeavours
to reach agreement as to the matter or matters in dispute within 20 Business Days of the date of delivery of the Dispute Notice
(“Resolution Period”).

 

		3.6	If, before expiry of the Resolution Period, agreement is reached between the Buyer and the Seller
as to all matters in dispute, the Buyer must, within 5 Business Days of such agreement being reached, deliver or procure the delivery
(in either case in accordance with Clause ‎21
(Notices)) to the Seller of revised Earn Out Accounts incorporating such adjustments as are required by such agreement. The revised
Earn Out Accounts will be final and binding on the Buyer and the Seller in respect of the Earn Out Period in question from the
date of delivery to the Seller.

 

		4.	Reference to Expert

 

		4.1	The Expert is a person appointed in accordance with this Paragraph ‎4
to resolve a dispute arising under Paragraph ‎3.

 

		4.2	In respect of any matters included in the Dispute Notice on which no agreement is reached within
the Resolution Period, such matters will be referred, on the application of either the Buyer or the Seller to the Expert for determination.

 

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		4.3	The Buyer and the Seller will agree on the appointment of an independent expert to act as the Expert.
If they are unable to agree on an Expert within 5 Business Days of either one of them serving details of a suggested expert on
the other, either the Buyer or the Seller may request the president for the time being of the Institute of Charted Accountants
in England and Wales to appoint an accountant of repute and with relevant experience as the Expert.

 

		4.4	The Buyer and the Seller must co-operate with each other and will take all reasonable action as
is necessary to ensure that the terms of appointment of the Expert will enable the Expert to act in accordance with and give effect
to the provisions of this paragraph 3.

 

		4.5	The Buyer and the Seller are each entitled to make one written submission to the Expert and to
reply once in writing to the other party’s submission and must provide (or procure that others provide) the Expert with such
assistance and documents as the Expert reasonably requires for the purpose of reaching a decision.

 

		4.6	The Expert will prepare a written decision and give notice (including a copy) of the decision to
the Buyer and the Seller within a maximum of 4 months of the matter being referred to him (or such other period as the Buyer and
the Seller may agree in writing with the Expert).

 

		4.7	Within 5 Business Days of the Expert’s decision, the Buyer must deliver or procure the delivery
(in either case in accordance with Clause ‎21
(Notices)) to the Seller of revised Earn Out Accounts incorporating such adjustments as have been determined by the Expert. The
revised Earn Out Accounts will be final and binding on the Buyer and the Seller from the date of delivery to the Seller.

 

		4.8	If the Expert is unable for whatever reason to act, or does not deliver the decision within the
time required by Paragraph 3.7 then a replacement expert will be appointed in accordance with the provisions of Paragraph 3.5.

 

		4.9	The Expert will act as an expert and not as an arbitrator. The Expert’s written decision
on the matters referred to him will be final and binding in the absence of manifest error (in which case the Expert’s written
decision will be returned to the Expert for correction) or fraud.

 

		4.10	The Buyer and the Seller will bear their own costs in relation to the Expert. The Expert’s
fees and any costs properly incurred by him in arriving at his determination (including any fees and costs of any advisers appointed
by the Expert) will be borne equally by the Buyer on the one hand, and the Seller on the other, or in such other proportions as
the Expert directs.

 

		5.	Satisfaction of the Earn Out Payments

 

The Buyer
must pay to Meda AB the Earn Out Payment within 5 Business Days of the relevant Earn Out Agreement Date if:

 

		(a)	during the First Earn Out Period, Earn Out Sales are equal to or are greater than $12,000,000;
and

 

		(b)	during the Second Earn Out Period, Earn Out Sales are equal to or are greater than $15,000,000

 

in cash in accordance with the
provisions of Clause ‎3.3.2.

 

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		6.	Buyer’s obligations during the Earn Out periods

 

		6.1	The Buyer undertakes to and covenants with the Seller that from the Completion Date until the expiry
of the Second Earn Out Period, unless otherwise agreed in writing between the Buyer and the Seller:

 

		(a)	the Buyer shall use its commercially reasonable efforts:

 

		(i)	to promote and sell the Product in the Territory; and

 

		(ii)	to continue to operate the Business; and

 

		(b)	the Buyer will not enter into any transaction in respect of the Product which is not on a commercial
basis and on arm’s length terms.

 

		6.2	The Buyer shall also use its commercially reasonable efforts to ensure that from the Completion
Date until the expiry of the Second Earn Out Period, it:

 

		(i)	will be solvent (in that both the fair value of its respective assets will not be less than the
sum of its respective debts and that the present fair saleable value of its respective assets will not be less than the amount
required to pay its respective probable liabilities on its debts as they become absolute and matured);

 

		(ii)	will have adequate capital and liquidity with which to engage in its respective businesses; and

 

		(iii)	will not have incurred and does not plan to incur debts beyond its ability to pay as they become
absolute and matured.

 

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SCHEDULE
11

 

Agreed
Announcement

 

Immune
Pharmaceuticals Regains Worldwide Rights for Ceplene®

 

Cytovia
to initiate commercialization activities in Europe and Latin America

 

NEW YORK, June
14, 2017 /PRNewswire/ — Immune Pharmaceuticals Inc. (NASDAQ: IMNP) announced today that it repurchased from Meda,
a Mylan NV company, assets relating to Ceplene®, including the right to commercialize Ceplene in Europe and to register and
commercialize Ceplene in certain other countries. Immune sold certain Ceplene-related assets in 2012 to Meda AB, now part of Mylan.
As a result of the recent acquisition, Immune will have the potential to register and commercialize Ceplene worldwide. Immune
Pharmaceuticals Inc. intends, through its Immuno-Oncology subsidary, Cytovia Inc. to accelerate commercialization efforts for
Ceplene in Europe, Asia and Latin America. In addition, Cytovia Inc. intends to pursue continued development of Ceplene towards
regulatory approval in the United States.

 

“We
are excited to gain back Ceplene’s European and Asian rights from Mylan and to transition Cytovia Inc., to a revenue-generating
phase. This is an additional step following our announcement of a binding Letter of Intent with Pint Pharma to invest in Cytovia
and to commercialize Ceplene in Latin America,” said Dr. Daniel Teper, CEO Cytovia Inc. “Proactive maintenance treatment
for AML has been recognized as highly essential for relapse prevention, and we are pleased for the opportunity for Cytovia to
potentially become a leader in the AML remission maintenance space.”

 

The
assets acquired from Mylan include rights to marketing authorizations, trademarks, patents, and other intellectual property related
to Ceplene and its use. Under the terms of the acquisition agreement, Immune Pharmaceuticals has agreed to pay Mylan a fixed price,
which is payable in installments, as well as additional amounts contingent on the achievement of certain milestones.

 

The
market for AML therapeutics is steadily growing due to an aging population and medical need that has been unmet due to the complexity
of AML. Unfortunately, most patients with AML who are able to achieve complete remission will eventually relapse, and survival
following such a relapse is poor: 33% in younger patients but only 15-20% in patients over 60 years of age. In the therapeutic
management of patients with AML, remission maintenance therapy is important for the prevention of a relapse and the prolongation
of disease-free survival.

 

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About
Ceplene® 

 

Ceplene®
(histamine dihydrochloride) is administered in conjunction with low dose interleukin-2 (IL-2), for maintenance of first remission
in patients with Acute Myeloid Leukemia (AML). It has been shown in clinical studies to prevent leukemic relapses in AML patients
in first remission and prolong leukemia-free survival while maintaining good quality of life during treatment.  Ceplene acts
by enhancing the immunostimulatory effect of IL-2 and countering ROS-induced dysfunction and apoptosis of T and NK cells, thereby
inducing immune-mediated killing of leukemic cells, providing a strong pharmacological rationale for this combination therapy.
A recent Phase IV study presented at the meeting of the American Association for Cancer Research in 2016 confirmed the safety
and efficacy of Ceplene demonstrated in the international study that supported European approval.

 

About
Acute Myeloid Leukemia (AML) 

 

AML
patients receive intensive induction treatment with chemotherapeutic drugs at diagnosis, and typically become free of detectable
leukemia, achieving "complete remission." However, within 1-2 years the majority (75-80%) of adult patients will experience
a relapse of leukemia, of which survival prognosis is 33% in younger patients but only 15-20% in patients over 60 years of age.
According to the American Cancer Society, there will be approximately 21380 new cases of AML and 10590 deaths from AML in the
US in 2017, The prognosis following first remission is poor and there are no other effective remission therapies currently available,
AML represents an orphan indication with particularly high unmet need.

 

About
Immune Pharmaceuticals Inc. 

 

Immune Pharmaceuticals
Inc. (NASDAQ: IMNP) applies a personalized approach to treating and developing novel, highly targeted antibody therapeutics to
improve the lives of patients with inflammatory diseases and cancer. Immune's lead product candidate, bertilimumab, is in Phase
II clinical development for moderate-to-severe ulcerative colitis as well as for bullous pemphigoid, an orphan autoimmune dermatological
condition. Other indications being considered for development include atopic dermatitis, Crohn's disease, severe asthma and Non-Alcoholic
Steato-Hepatitis (NASH), an inflammatory liver disease. Immune recently expanded its portfolio in immuno-dermatology with topical
nano-formulated cyclosporine-A for the treatment of psoriasis and atopic dermatitis. Cytovia Inc, Immune's oncology subsidiary,
is developing Ceplene® which is in late stage clinical development for maintenance remission in Acute Myeloid Leukemia (AML)
in combination with IL-2. Additional oncology pipeline includes Azixa® and crolibulin, Phase II clinical stage vascular disrupting
agents, and novel technology platforms; bispecific antibodies and NanomAbsTM. Maxim Pharmaceuticals Inc., Immune's pain and
neurology subsidiary is developing AmiKetTM and AmiKetTM NanoTM for the treatment of neuropathic pain. For more
information, visit Immune's website at www.immunepharma.com, the content of which is not a part of this press release.

 

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Forward-Looking Statements  

 

This news release and any oral statements
made with respect to the information contained in this news release contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You are urged to consider statements that include the words "may,"
"will," "would," "could," "should," "believes," "estimates," "projects,"
"potential," "expects," "plans," "anticipates," "intends," "continues,"
"forecast," "designed," "goal" or the negative of those words or other comparable words to be uncertain
and forward-looking. Such forward-looking statements include statements that express plans, anticipation, intent, contingency,
goals, targets, future development and are otherwise not statements of historical fact. These statements are based on our current
expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different
from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause
actual results or developments to differ materially include, but not limited to: the risks associated with the adequacy of our
existing cash resources and our ability to continue as a going concern; the risks associated with our ability to continue to meet
our obligations under our existing debt agreements; the risk that clinical trials for bertilimumab, Ceplene, Azixa, AmiKet, AmiKet
Nano, LidoPain or NanoCyclo will not be successful; the risk that bertilimumab, AmiKet or compounds arising from our NanomAbs
program will not receive regulatory approval or achieve significant commercial success; the risk that we will not be able to find
a partner to help conduct the Phase III trials for AmiKet on attractive terms, on a timely basis or at all; the risk that our
other product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy
in larger-scale or later-stage clinical trials; the risk that we will not obtain approval to market any of our product candidates;
the risks associated with dependence upon key personnel; the risks associated with reliance on collaborative partners and others
for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and
uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our
history of operating losses since our inception; the highly competitive nature of our business; risks associated with litigation;
and risks associated with our ability to protect our intellectual property; risks associated with the contemplated transaction
with NPT. These factors and other material risks are more fully discussed in our periodic reports, including our reports on Forms
8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider
the disclosures found in our filings, which are available at www.sec.gov or at www.immunepharma.com.
You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be wrong due to
inaccurate assumptions, unknown risks or uncertainties or other risk factors. We expressly disclaim any obligation to publicly
update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except
as required by law.

 

SOURCE
Immune Pharmaceuticals Inc.

 

For
further information: Anna Baran-Djokovic, Anna.baran@immunepharma.com; Audrey Rebibo, Audrey.rebibo@immunepharma.com, 646-481-5058

 

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SCHEDULE
12

 

IP Assignments

 

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SCHEDULE
13

 

Form of Assignment
Notice

 

[To Contract counterparty]

	 	 
	 	 
	 	[Completion Date]

 

Dear Sir/Madam,

 

Re: Assignment of Contract Following Sale
of Ceplene

 

Reference is made to that certain Agreement
between Meda Pharma SARL (“Meda”) and [counterparty] dated [______], concerning [______________] (the
“Agreement”).

 

As you may be aware, Meda has entered into
an Agreement, effective June 14, 2017, for the sale to Immune Pharmaceuticals, Inc., of all rights, title and interest in and to
the drug, “Ceplene”. This letter constitutes notice to [counterparty], given in light of such sale, of the assignment
by Meda to Immune Pharmaceuticals, Inc of all Meda’s rights and obligations under the Agreement, in accordance with the provisions
of Section [assignment section] thereof.

 

The addresses and contact information of Immune
Pharmaceuticals, Inc. are as follows:

 

Immune Pharmaceuticals, Inc.

12 East 49th Street, 11th Floor

New York, NY 10017

Attn: Daniel Teper, CEO

Tel: +1 (347) 762-6353

Fax: +1 (347) 772-3131

Email: daniel.teper@immunepharma.com

 

	 	Sincerely,
	 	 
	 	
        Meda Pharma SARL 

 

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SCHEDULE
14

 

Transitional
Services Agreement

 

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SCHEDULE
15

 

Termination
Deed

 

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SCHEDULE
16

 

Completion
Date Inventory Estimate

 

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