Document:

Exhibit 10.77

 

CONTRACT AMENDMENT

 

	
BUSINESS:
    	
NewLink Genetics Corporation
    
	
MASTER CONTRACT #:
    	
04-IVF-019
    
	
AMENDMENT #:
    	
Two
    
	
EFFECTIVE DATE:
    	
February 17, 2011
    

 

THIS CONTRACT AMENDMENT is made by and between the IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT, (hereafter “Department” or “IDED”), 200 East Grand Avenue, Des Moines, Iowa 50309, an agency of the State of Iowa and NewLink Genetics Corporation (hereafter “Business”), a Delaware corporation, 2901 South Loop Drive, Suite 3900, Ames, Iowa 50010.

 

WHEREAS, Business, requested an extension of the Project Completion Date, and

 

WHEREAS, the IDED Board approved a one (1) year extension, effective as of the Effective Date stated above, and

 

NOW, THEREFORE, the Contract referenced above is amended as follows:

 

1.  REVISION OF ARTICLE 10.2, “COVENANTS.” Article 10.2 is amended as follows:

 

10.2             Creation and Maintenance of Jobs in Iowa.

(a)  By March 18, 2012, the Business shall create 315 jobs and retain 35 jobs for a total of 350 jobs (the “Job Creation/Retention Obligation”). One hundred percent (100%) of the pledged jobs shall be created by March 18, 2012. At that time, the 5-year Job Maintenance Period shall begin, ending March 18, 2017. All Project jobs shall be created and maintained in the State of Iowa.

 

2.  REVISION OF EXHIBIT D, “DESCRIPTION OF THE PROJECT AND AWARD BUDGET.” Exhibit D is amended to revise the Project Completion Date. Details of this change are reflected in the attached Revised Exhibit C which is hereby incorporated by this reference and made a part of this Contract Amendment.

 

This section left blank intentionally; signature page follows.

 

Fmt. Approved 10/08

 

 

Except as otherwise revised above, the terms, provisions, and conditions of Contract Number 04-IVF-019 remain unchanged and are in full force and effect:

 

 

	
FOR BUSINESS:
    	
 
    	
FOR IDED:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Gordon Link
    	
 
    	
/s/ Deborah V. Durham
    	
4/19/11
    
	
SIGNATURE
    	
 
    	
for Deborah V. Durham,   Director
    	
DATE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
PRINT/TYPE NAME, TITLE
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
FOR COMMUNITY:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Ann H. Campbell
    	
 
    	
 
    
	
SIGNATURE
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Ann H. Campbell, Mayor 
    	
 
    	
 
    
	
PRINT/TYPE NAME, TITLE
    	
 
    	
 
    

 

 

	
 
    	
GROW IOWA VALUES FUNDS PROGRAM
    	
 
    
	
 
    	
PROJECT DESCRIPTION AND BUDGET
    	
To be filled in by DED:
    
	
 
    	
(EXHIBIT D)—Revised 2/17/2011
    	
 
    

 

	
 
    	
 
    	
Original
    	
 
    
	
Name of Recipient:
    	
NewLink Genetics
    	
 
    	
 
    
	
 
    	
 
    	
Amendment   #
    	
 
    
	
Contract #:
    	
04-IVF-19
    	
 
    	
 
    

 

PROJECT DESCRIPTION

 

NewLink Genetics, Inc. will develop and bring to market cancer drugs, diagnostic applications and software databases. The project involves bringing at least 3 cancer drugs to clinical trials, initiating collaborative product development with another pharmaceutical/biotech companies, building a pharmaceutical research and development facility, and constructing a pharmaceutical manufacturing plant.

 

PERFORMANCE TARGETS

 

NewLink Genetics will invest at least $189,862,500 in research and development of cancer drugs; acquisition of equipment; construction of a R & D facility and product manufacturing facility. NewLink Genetics will retain 35 employees and create 315 positions by the Project Completion Date.

PROJECT COMPLETION DATE:  March 18, 2012

PROJECT MAINTENANCE DATE:  March 18, 2017

 

AMOUNT BUDGETED

 

	
USE OF FUNDS
   ACTIVITY
    	
 
    	
Cost
    	
 
    	
Source A
    	
 
    	
Source B
    	
 
    	
Source C
    	
 
    	
Source D
    	
 
    	
Source E
    	
 
    	
Source F
    	
 
    
	
Clinical Trials
    	
 
    	
$
    	
55,300,000
    	
 
    	
 
    	
 
    	
$
    	
55,300,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Product Devel./Testing
    	
 
    	
$
    	
2,500,000
    	
 
    	
$
    	
1,507,500
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
992,500
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Research & Development 
    	
 
    	
$
    	
78,750,000
    	
 
    	
$
    	
2,000,000
    	
 
    	
$
    	
76,250,000
    	
 
    	
 
    	
 
    	
$
    	
500,000
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Capital Equipment Acq.
    	
 
    	
$
    	
12,100,000
    	
 
    	
$
    	
1,600,000
    	
 
    	
$
    	
10,500,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Building Construction 
    	
 
    	
$
    	
20,300,000
    	
 
    	
$
    	
492,500   
    	
 
    	
$
    	
19,300,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
507,500
    	
 
    	
 
    	
 
    
	
Bioinformatics Equipment/ 
    	
 
    	
$
    	
5,750,000
    	
 
    	
$
    	
400,000
    	
 
    	
$
    	
5,350,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Database Development 
    	
 
    	
$
    	
0
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Employee Training (260E) 
    	
 
    	
$
    	
1,930,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
1,930,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Other Capital Investment
    	
 
    	
$
    	
13,232,500
    	
 
    	
 
    	
 
    	
$
    	
8,950,000
    	
 
    	
 
    	
 
    	
$
    	
4,282,500
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
$
    	
0
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
$
    	
0
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SUB TOTAL
    	
 
    	
$
    	
189,862,500
    	
 
    	
$
    	
6,000,000
    	
 
    	
$
    	
175,650,000
    	
 
    	
$
    	
1,930,000
    	
 
    	
$
    	
5,775,000
    	
 
    	
$
    	
507,500
    	
 
    	
$
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SUB TOTAL
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    	
$
    	
0
    	
 
    
	
TOTAL ALL FUNDS
    	
 
    	
$
    	
189,862,500
    	
 
    	
$
    	
6,000,000
    	
 
    	
$
    	
175,650,000
    	
 
    	
$
    	
1,930,000
    	
 
    	
$
    	
5,775,000
    	
 
    	
$
    	
507,500
    	
 
    	
$
    	
0
    	
 
    

 

TERMS OF PROPOSED FINANCING

 

	
Source of Funds
    	
 
    	
Amount
    	
 
    	
Type
    	
 
    	
Rate
    	
 
    	
Term
    	
 
    	
Collateral
    	
 
    
	
Source A: Iowa Values Fund
    	
 
    	
$
    	
6,000,000
    	
 
    	
Fgl/Royalty
    	
 
    	
 
    	
 
    	
 
    	
 
    	
1st position on Intellectual property, $3.2 million royally repayment   to be paid back within ten years.
    	
 
    
	
Source B: NewLink Genetics   Inv/Equity
    	
 
    	
$
    	
175,650,000
    	
 
    	
Tax Refund
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Source C: New Jobs   Training Fund
    	
 
    	
$
    	
1,930,000
    	
 
    	
Grant
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Source D: NCIP/NJIP
    	
 
    	
$
    	
5,775,000
    	
 
    	
Tax Credits
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Source E: NCIP/NJIP
    	
 
    	
$
    	
507,500
    	
 
    	
Sales Tax Refund
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Source F:
    	
 
    	
$
    	
0
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TOTAL:
    	
 
    	
$
    	
189,862,500
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

ADDITIONAL PERFORMANCE TARGETS

 

	
Number of Jobs to be   Created:
    	
315
    	
 
    	
Total of other Funds in   Project:
    	
   $183,862,500
    
	
Number Jobs to be   Retained:
    	
35
    	
 
    	
 
    	
 
    
	
Total GIVF for Project:
    	
$6,000,000
    	
 
    	
Total GIVF for Project:
    	
      $6,000,000
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
GIVF per Job Affected:
    	
$17,142.86
    	
 
    	
Ratio of $1.00 of GIVF   to:
    	
          $30.64   of “Other” Funds
    

 

Revised 3/16/05Exhibit 10.78

 

CONTRACT AMENDMENT

 

	
BUSINESS:
    	
NewLink Genetics Corporation
    
	
MASTER CONTRACT #:
    	
06-54
    
	
FUNDING AGREEMENT#
    	
06-HQJC-017
    
	
AMENDMENT #:
    	
Three
    
	
EFFECTIVE DATE:
    	
February 17, 2011
    

 

THIS CONTRACT AMENDMENT is made by and between the IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT, (hereafter “Department” or “IDED”), 200 East Grand Avenue, Des Moines, Iowa 50309, an agency of the State of Iowa and NewLink Genetics Corporation (hereafter “Business”), a Delaware corporation, 2901 South Loop Drive, Suite 3900, Ames, Iowa 50010.

 

WHEREAS, Business requested an extension of the Project Completion Date, and

 

WHEREAS, the IDED Board approved a one (1) year extension, effective as of the Effective Date stated above, and

 

NOW, THEREFORE, the Contract referenced above is amended as follows:

 

1.              REVISION OF ARTICLE 3.1, “PROJECT COMPLETION DATE.”  The definition of “Project Completion Date” in Article 3.1 is amended as follows:

 

“Project Completion Date”  means March 18, 2012 as stated in Exhibit C, Description of the Project and Award Budget. The Project Completion Date is the date by which all Project activities shall be satisfactorily completed.

 

2.              REVISION OF HQJC FUNDING AGREEMENT ARTICLE 4.1 “JOB OBLIGATIONS.” Article 4.1 is amended as follows:

 

The Business’s Job Obligations are as detailed in Master Contract Exhibit D, “Job Obligations.” The Business shall create the Project Jobs by March 18, 2012. The Business shall maintain the Project Jobs for a period of at least two (2) years beyond the Project Creation Period, for a total contract duration of 8 years.

 

3.              REVISION OF HQJC FUNDING AGREEMENT ARTICLE 4.2 “QUALIFYING INVESTMENT.”  Article 4.2 is amended as follows:

 

By March 18, 2012, the Business shall make a qualifying investment of $2,000,000. A “qualifying investment” means an investment in real property including the purchase price of land and existing buildings and structures; site preparation; improvements to real property; building construction; long-term lease costs; and/or depreciable assets.

 

Fmt. Approved 10/08

 

 

4.              REVISION OF HQJC FUNDING AGREEMENT ARTICLE 4.5 “ADDITIONAL CONDITIONS.”  Article 4.5 is amended as follows:

 

Even though the 25,000-28,000 build-to-suit facility is not being included in the project, Newlink Genetics will be required to finalize the lease terms and occupy the facility by March 18, 2012. Failure to do so will result in an event of non-compliance and NewLink Genetics will be required to re-pay all or a part of the benefits received through the High Quality Job Creation Program award.

 

5.              REVISION OF EXHIBIT C, “DESCRIPTION OF THE PROJECT AND AWARD BUDGET.” Exhibit C is amended to revise the Project Completion Date. Details of this change are reflected in the attached Revised Exhibit C which is hereby incorporated by this reference and made a part of this Contract Amendment.

 

Except as otherwise revised above, the terms, provisions, and conditions of Contract Number 06-54 remain unchanged and are in full force and effect:

 

 

	
FOR BUSINESS:
    	
 
    	
for   ided:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Gordon Link
    	
 
    	
/s/ Deborah V. Durham
    	
4/19/11
    
	
SIGNATURE
    	
 
    	
for Deborah V. Durham,   Director
    	
DATE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
PRINT/TYPE NAME, TITLE
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
FOR COMMUNITY:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Ann H. Campbell
    	
 
    	
 
    
	
SIGNATURE
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Ann H. Campbell, Mayor
    	
 
    	
 
    
	
PRINT/TYPE NAME, TITLE
    	
 
    	
 
    

 

 

DESCRIPTION OF THE PROJECT AND AWARD BUDGET

(EXHIBIT C)— Revised 2/17/2011

 

	
Name of Business:
    	
NewLink Genetics Corporation
    
	
 
    	
 
    
	
Contract Number:
    	
06-54
    

 

PROJECT DESCRIPTION

 

NewLink Genetics Corporation will develop a campus for its operations at the ISU Research park in Ames, Iowa. The project involves purchases of manufacturing machinery and equipment and research and development. NewLink Genetics Corp. will create 45 full-time equivelant (FTE) jobs as a result of this project.

 

	
Project Completion Date:
    	
March 18, 2012
    
	
 
    	
 
    
	
Job Maintenance Period:
    	
March 18, 2014
    

 

AWARD BUDGET

 

	
Source of Funds
    	
 
    	
Amount
    	
 
    	
 
    	
 
    	
Use of Funds
    	
 
    	
Cost
    	
 
    
	
IDED Programs
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HQJC Program Benefits
    	
 
    	
*see   below
    	
 
    	
 
    	
 
    	
*Mfg Machinery and   Equipment 
    	
 
    	
$
    	
2,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Research and Development
    	
 
    	
$
    	
20,000,000
    	
 
    
	
City of Ames
    	
 
    	
$
    	
200,000
    	
 
    	
Forgivable loan
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
AEDC
    	
 
    	
$
    	
200,000
    	
 
    	
Forgivable loan
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
NewLink Genetics Corp.
    	
 
    	
$
    	
21,600,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SUB TOTAL
    	
 
    	
$
    	
22,000,000
    	
 
    	
 
    	
 
    	
SUB   TOTAL
    	
 
    	
$
    	
22,000,000
    	
 
    
	
 
    	
 
    	
*Included   as capital investment if awarded tax credit program
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SUB TOTAL
    	
 
    	
$
    	
0
    	
 
    	
 
    	
 
    	
SUB   TOTAL
    	
 
    	
$
    	
0
    	
 
    
	
TOTAL ALL FUNDS
    	
 
    	
$
    	
22,000,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
22,000,000
    	
 
    

 

	
*HQJC Program Benefits
    	
 
    	
$414,200 (estimated value)
    	
 
    

 

Apr. 09

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