Document:

EX-10.25

 Exhibit 10.25 

THE SYMBOL “[***]” DENOTES PLACES WHERE CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (i)
NOT MATERIAL, AND (ii) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED 
 Supplementary Agreement to the
Service Outsourcing Agreement 
 This Supplementary Agreement to the Services Outsourcing Agreement (the “Supplementary Agreement”) is entered
into on September 8, 2020 by and between the following parties: 
 Party A: Shanghai Yiqi Zuoye Information Technology Co., Ltd. 

Address: 16 / F, Building B, Wangjing Greenland Center, Chaoyang District, Beijing 

Zip: 100102 
 Contact number: [***] 

Contact person: [***] 

E-mail address: [***] 

Party B: Beijing Yicai Human Resource Consulting Co., Ltd. 

Address: Building F1, No. 1 Tianyang Canal (North Gate), No. 56 Jianguo Road, Chaoyang District, Beijing 

Zip: 100022 
 Contact number: [***] 

Fax number: [***] 
 Contact person: [***] 

E-mail address: [***] 

WHEREAS, the amendment and renewal of the Service Outsourcing Agreement (hereinafter referred to as the “Agreement”) was
entered into on September 1, 2020 by and between Party A and Party B, with respects to the outsourcing services by Party A to Party B, such as learning counseling, customer service center and other services (hereinafter referred to as the
“Service Outsourcing Project”). Both Parties intend to supplement and modify the Agreement. This Supplementary Agreement and the Agreement are hereinafter collectively referred to as “Outsourcing Service Agreement”.

 THEREFORE, both parties, after their amicable negotiations, enter into the Supplementary Agreement regarding the following matters. 

 

	1	 Unless otherwise provided herein, terms of this Supplementary Agreement not defined herein shall have the
meaning given to such terms in the Agreement. 

  

	2	 For he outsourcing service items, as defined in Article 2 “Service Items” of the Agreement, please
refer to the “Service Items Confirmation” listed on Annex 1. For the calculation basis of the service fee mentioned in Article 6 of the Agreement, please refer to the “Service Price List” as set forth on Annex II. Party B shall
issue “Project Service List” in the form attached hereto as Annex III to Party A, when settling accounts of the services under the Service Outsourcing Project hereunder and thereunder. 

 

	3	 The annexes set forth in this Supplementary Agreement shall constitute an integral part of the Outsourcing
Service Agreement and shall have same legal effect as the Outsourcing Service Agreement. 

  
 1 

	4	 The following paragraphs are added as paragraphs 12 to 14 to Article 3 of the Agreement: 

“12. Based on Party B’s service requirements, Party A shall provide party B with relevant training and guidance for the Service
Outsourcing Project and provide timely guidance for problems during the service process. 
 13. For Service Outsourcing Project, Party A
shall have right to propose the rules with which shall be complied by Party B regarding the services provided by Party B and its service team, including but not limited to, Party A may inform Party B rules of Service Outsourcing Project,
implementation requirement, qualification criteria for service personnel, service specification and standard content and the updated version of the foregoing, via emails or other method acknowledged by both parties. Party A have the right to
supervise and manage the service provided by Party B, mainly including whether Party B provides services in accordance with the latest updated rules of Party A. 

14. Party A shall have the right to supervise, assess and judge periodically to the service quality provided by Party B under the rules
formulated and published by Party A or notified by email to Party B to ensure the services provided by Party B and its service team meet the requirements.” 
  

	5	 The following paragraphs are added as paragraphs 8 to 10 to Article 4 of the Agreement: 

“8. For Service Outsourcing Project, Party B shall ensure that its service team to comply with the requirements set forth by Party A,
including rules of Service Outsourcing Project, implementation requirements, qualification criteria for service personnel, service specification and standard content, and shall accept supervision, inspection and improvement requirements from Party
A, including that Party B and its service team shall not prejudice the interests, business operation, reputation of Party A during the service period, such as, fraud, disrespect for Party A’ users, withdrawal/change of classes without
permission, refusing to cooperate with Party A’s supervision and investigation, falsification of financial data reported to Party A, breach of confidentiality obligations, damage to Party A’s image, reputation and public praise, occurrence
of teaching accidents, complaints from Party A’s users, etc. If Party B and/or its service team fails to meet the requirements set forth by Party A in the process of providing services, Party A shall have the right to deduct the relevant
penalty fees (if any) directly from the service fees to be paid to Party B in accordance with the requirements of the rules. 
 9. Party B
shall designate specific personnel responsible for docking Service Outsourcing Project with personnel designated by Party A, including but not limited to specific instructions on service content, feedback on service quality, supplementary and
updated rules by Party A. In case of any change in the contact personnel designated by Party B, it shall notify Party A in writing three (3) working days in advance, and be liable for the loss caused by its failure to timely notify Party A.

 10. In the event that any loss of Party A arise from no labor contract signed by and between Party B and its staff, delay of the salary
payment, no full payment of social insurance/housing accumulation fund/tax by Party B, Party B shall promptly deal with such issues. Party B shall compensate all losses suffered by Party A due to the default or gross negligence from Party B.”

  
 2 

	6	 There is a clerical error in the estimated cost set forth in Article 6.2.1 of the Agreement, and both parties
agree that the estimated cost shall be the amount set forth in the Service Price List attached hereto as Annex II. 

  

	7	 Article 7, Paragraph 1, of the Agreement shall be amended as a whole as follow: 

“Unless otherwise agreed by both parties, both parties shall be bound by the confidentiality obligation hereunder, keep confidential all
of the contents of this Agreement and the information obtained from the other party during the performance of this Agreement (hereinafter collectively referred to as “Confidential Information”). The confidentiality obligation shall
mean, without written consent from the other party, each party shall neither use the Confidential Information for any situation unrelated to the performance of the Agreement, nor disclose or leak to any third party in any form. Both parties are
obliged to make every effort to prevent any third party from stealing Confidential Information. In case any party violating the aforesaid obligation of confidentiality and causing losses to the other party, such party shall be liable for cessation
of infringement, elimination of adverse impact, compensation for the losses suffered by the other party. 
 Notwithstanding the foregoing,
the confidentiality obligation of both parties shall be exempted under the following circumstances: (1) the Confidential Information has entered the public domain for any reason except as being publicly disclosed by any parties in violation of
this Agreement; (2) any parties disclose to its employee with respect to the transactions contemplated hereunder on condition that such employee must be bound by the obligations of confidentiality same as those under this Agreement;
(3) any party disclose to its banks, legal counsels, financial consultants or intermediary service agencies for the purpose of this Agreement, on condition that such banks, legal counsels, financial consultants or intermediary service agencies
shall be bound by the obligations of confidentiality same as those under this Agreement; (4) necessary disclosure under the provisions of laws and regulations or the requirements or instructions of government authorities and securities
regulatory authorities.” 
  

	8	 This Supplementary Agreement will come into effect after being signed by both parties. The Supplementary
Agreement shall form integral part of the Agreement and shall have the same legal effect as the Agreement upon its effective date. In case of any conflict or inconsistency between the provisions of this Supplementary Agreement and the Agreement, the
provisions of this Supplementary Agreement shall prevail. 

  

	9	 This Supplementary Agreement is made by both parties in two (2) originals of equal legal force, one
(1) for each Party and each original shall have the same legal effect. 

 [The following is the signature page(s)]

  
 3 

 This Supplemental Agreement is executed by both parties or their authorized representatives on the date
first written above and both parties agree to be bound by this Supplemental Agreement. 
 Party A: 

Shanghai Yiqi Zuoye Information Technology Co., Ltd. (Seal) 

/s/ Shanghai Yiqi Zuoye Information Technology Co., Ltd. 

Authorized Representative: _____________________ 
 Party B:

 Beijing Yicai Human Resource Consulting Co., Ltd. (Seal) 

/s/ Beijing Yicai Human Resource Consulting Co., Ltd. 

Authorized Representative: _____________________ 

 Annex 1: Service Items Confirmation 

 

							
	Demand Party
	Company Name: Shanghai Yiqi Zuoye Information Technology Co., Ltd.
	Service Requirement Information
	Service Content: Outsourcing services of tutoring teacher
	Service Location: Subject to the actual needs of project
	 Narrative:

 
 1. According to the project requirements from Party A, providing services and ensuring
the services to be carried out as scheduled;
  
 2. Timely reminding students of class
time, and being responsible for cooperating with Party A to maintain class order and supervising the whole course during the live broadcast, so as to ensure the normal and orderly conduct of the live broadcast course;

 
 3. Being responsible for homework correcting, answering questions of class community,
daily maintenance and operation, following up students’ learning situation, analyzing students’ learning situation, making learning plans, proposing learning suggestions and increasing user stickiness;

 
 4. Maintaining students and timely feeding back to parents on learning situation,
answering parents’ questions, promoting the improvement of academic performance, in charge of the related work of students’ course renewal;
  

5. Timely and reasonably dealing with the adjustment requirements of parents on time, class type and tutor, timely and reasonably dealing with the refund
issues of parents;
  
 6. Assisting to ensure the normal and orderly progress of
project.
  

	 In order to guarantee the service quality of Party B, the
service personnel shall comply with the following requirements:
  
 1. Being employee of
Party B
  
 2. Capable of providing services required by Party A, including:

 
 2.1 Bachelor degree or above, no limited to major, fresh or former graduates;

 
 2.2 Strong learning ability, strong communication skills, a sense of responsibility and
patience;
  
 2.3 Optimistic and outgoing, enthusiastic about education.

 

	Service Start Time	  	September 1, 2020	  	Service End Time	  	August 31, 2022
	Workplace	  	Subject to the actual needs of project	  	Estimated Number of Service Personnel	  	More than 1,000
	Project Service Fee (CNY/Month): The settlement of account shall be based on the amount incurred during the actual period of cooperation as set
forth in the Service Price List.
	Overtime Project Service Fee: according to the actual occurrence charge.
	Note:
	Demand Party	  	Supplier
	Seal  /s/ Shanghai Yiqi Zuoye Information Technology Co., Ltd.	  	Seal  /s/ Beijing Yicai Human Resource Consulting Co., Ltd.
	Date  September 8, 2020	  	Date  September 8, 2020

 Annex II: Service Price List 

 

							
	Project	 	Content 	  	Explanation	  	Estimated cost
(RMB/year)
	A
Service   Fee	 	Outsourcing  Services Fee 	  	 Party A shall take the following
factors into consideration as the basis for determining and paying the project service fee:
  

1. Service category provided by Party B, such as, course category, price, etc, followed up by Party B;

 
 2. The scale of services provided by Party B, such as the number of classes and students
in charge of by Party B, and the number of courses followed up by Party B;
  
 3. The
service quality provided by Party B, such as the evaluation, feedback and complaint of Party A and Party A’s customers (such as students) on the services provided by Party B, the attendance rate of live broadcast courses, the attendance rate of
live broadcast courses within half an hour, homework submission rate, renewal rate, class order maintenance in live broadcast courses, etc;
  

4. Costs incurred by Party B in providing services to Party A.
	  	CNY [***]
	Outsourcing Services Fee    	  	/

 Annex III: Project Service List 

 

			
	  	  	Content
	Workload Description	  	 
	Service Completion	  	 
	Tax	  	 
	Other Necessary ExpensesDocument

Exhibit 10.3
FIRST AMENDMENT TO AMENDED AND RESTATED
EXCLUSIVE LICENSE AGREEMENT

              This First Amendment to Amended and Restated Exclusive License Agreement (this “Amendment”), effective as of September 29, 2020 (the “Effective Date”), is entered into by and between SLSG Limited LLC (together with its affiliates, hereinafter collectively “Company”), a Delaware limited liability company with a place of business at 15 West 38th Street, 10th Floor, New York, New York 10018, and Memorial Sloan Kettering Cancer Center, a New York not-for-profit corporation with a principal office address at 1275 York Avenue, New York, New York 10065 (“MSK”).

WHEREAS, the Company is a wholly-owned subsidiary of Sellas Life Sciences Group Ltd., an exempted limited company incorporated under the laws of Bermuda with offices at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda (“Sellas Limited”); and

WHEREAS, Sellas Limited is a wholly-owned subsidiary of SELLAS Life Sciences Group, Inc., a Delaware corporation with a place of business at 15 West 38th Street, 10th Floor, New York, New York 10018; and

WHEREAS, Sellas Limited and MSK entered into that certain Amended and Restated Exclusive License Agreement, dated as of October 10, 2017 (the “Agreement”); and

WHEREAS, Sellas Limited assigned all of its right, title and interest in and to the Agreement to the Company pursuant to that certain Assignment of License dated as of June 28, 2019 by and between Sellas Limited, as assignor, and the Company, as assignee (the “Assignment”); and

WHEREAS, following and as a result of the execution of the Assignment, the Company is the successor-in-interest to Sellas Limited under the Agreement and is as of the Effective Date a Party and the Licensee under and pursuant to the Agreement; and

WHEREAS, the Parties to the Agreement desire to, and hereby do, amend the Agreement in accordance with the terms hereof.

NOW, THEREFORE, in exchange for the promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the Parties hereby agree as follows:

              1.           Definitions.  Capitalized terms used, but otherwise not defined herein shall have the meanings given to such terms in the Agreement.  

2.           Original Patent Rights – Exhibit A.  Exhibit A to the Agreement is hereby amended by deleting such Exhibit A in its entirety and substituting in place thereof the copy of Exhibit A attached hereto as Appendix 1 to this Amendment and made a part hereof.  The definition of Original Patent Rights is automatically and without any further action by the Parties amended to include all of the patents and patent applications included within Exhibit A, as amended by this Amendment.

3.           Additional Patent Rights – Exhibit B.  Exhibit B to the Agreement is hereby amended by deleting such Exhibit B in its entirety and substituting in place thereof the copy of Exhibit B attached hereto as Appendix 2 to this Amendment and made a part hereof.  The definition of Additional Patent Rights is automatically and without any further action by the Parties amended to include all of the patents and patent applications included within Exhibit B, as amended by this Amendment.

4.           Governing Law.  The validity, enforcement, construction, and interpretation of this Amendment are governed by the laws of the State of New York and the federal laws of the United States of America, excluding the laws of those jurisdictions pertaining to resolution of conflicts with laws of other jurisdictions.  

              5.           Successors and Assigns.   This Amendment is binding on, and inures to the benefit of, the Parties, their authorized and permitted heirs, successors and assigns. 

6.           Counterparts; Effective Date.  The Parties may execute this Amendment by facsimile or other electronic transmission, in pdf file format or otherwise, and in counterparts. Each executed counterpart of this 

Amendment will constitute an original document, and all executed counterparts, together, will constitute the same agreement.   This Amendment will become effective as of the Effective Date. 

              7.           Complete Agreement; Ratification and Confirmation.  The headings of the Sections of this Amendment are solely for convenient reference and neither constitutes a part of this Amendment nor affect its meaning, interpretation, or effect.  This Amendment, together with the Agreement, records the entire understanding of the Parties with respect to the terms of this Amendment and the Agreement and the restrictions and subject matter stated in it and them, and supersedes any previous or contemporaneous agreement, representation, or understanding, oral or written, by either of them.  The Agreement, as amended by this Amendment, is in full force and effect, and is hereby ratified and confirmed by the Parties in every respect.

The foregoing Amendment is executed as of the Effective Date. 

									
		SLSG LIMITED LLC
			
		By:	/s/ Angelos Stergiou 
		Name:	Angelos Stergiou, M.D., ScD. h.c.
		Title	President and Chief Executive Officer
			15 West 38th Street, 10th Floor
			New York, NY 10018
			
		MEMORIAL SLOAN KETTERING CANCER CENTER
			
		By:	/s/ Gregory Raskin
		Name:	Gregor Raskin
		Title	Vice President, Technology Development
			1275 York Avenue, Box 524
			New York, NY 10065
			
			

Appendix 1 to the Amendment

EXHIBIT A

Original Patent Rights

1.SK1074 Synthetic HLA Binding Peptide Analogues and Uses Thereof
												
	MSK Reference Number
	Type of Filing
	Application/Patent Number
	Date of Filing

	SK1074-01
	Provisional
	60/525,955
	Dec 1, 2003

	SK1074-03
	PCT
	PCT/US2004/040347
	Nov 30, 2004

	SK1074-04
	National - Canada
	CA 2,548,135
	May 31, 2006

	SK1074-02
	National – Europe
France
United Kingdom
Germany
Italy
Switzerland
Spain
	EP 1708732
	Jun 29, 2006

	SK1074-05
	National - Australia
	AU 2004294345
	Jul 6, 2006

	SK1074-06
	National - United States
	7,488,718
	Nov 30, 2004

2. SK1219 WT1 HLA Class II-Binding Peptides and Compositions and Methods Comprising Same
												
	MSK Reference Number
	Type of Filing
	Application/Patent Number
	Date of Filing

	SK1219-01
	Provisional
	60/726,608
	Oct 17, 2005

	SK1219-02
	Provisional
	60/728,304
	Oct 20, 2005

	SK1219-03
	PCT
	PCT/US2006/040719
	Oct 17, 2006

	SK1219-04
	National – Europe
France
United Kingdom
Germany
Ireland
Italy
Switzerland
Spain
	EP 1951281
	Apr 17, 2008

	SK1219-09
	National - Europe - Divisional
France
United Kingdom
Germany
Ireland
Italy
Switzerland
Spain
	EP 2565201
	Jun 14, 2012

	SK1219-06
	National - United States
	8,765,687
	Sep 27, 2009

	SK1219-10
	Continuation
	9,233,149
	Sep 16, 2013

	SK1219-27
	Continuation
	10,221,224
	Jan 8, 2016

	SK1276-27
	Continuation
	16/270,444
	Feb 7, 2019

	SK1219-07
	National - Canada
	2,626,238
	Apr 17, 2008

	SK1219-18
	National -Canada - Divisional
	2,900,087
	Oct 17, 2006

	SK1219-08
	National - Australia
	2006304573
	Apr 17, 2008

3. SK1225 Synthetic HLA Binding Peptide Analogues and Uses Thereof
												
	MSK Reference Number
	Type of Filing
	Application/Patent Number
	Date of Filing

	SK1225-01
	Continuation
	7,598,221
	Sep 12, 2005

4. Immunogenic WT-1 Peptides and Methods of Use Thereof
												
	MSK Reference Number
	Type of Filing
	Application/Patent Number
	Date of Filing

	SK1233-01
	Provisional
	60/790,526
	Apr 10, 2006

	SK1233-02
	Provisional
	60/852,009
	Oct 17, 2006

	SK1233-03
	PCT
	PCT/US2007/008853
	Apr 10, 2007

	SK1233-06
	National - Canada
	CA 2645766
	Nov 9, 2008

	SK1233-05
	National - Europe
Austria
Belgium
Finland
France
United Kingdom
Germany
Greece
Ireland
Italy
Netherlands
Poland
Romania
Switzerland
Spain
Turkey
	EP 2010209
	Nov 10, 2008

	SK1233-08
	National - Europe - Divisional
	16173687.1
	Apr 10, 2007

	SK1233-25
	Extension – Hong Kong
	17107134.3
	Jul 17, 2017

	SK1233-04
	National - United States
	9,265,816
	Dec 2, 2009

	SK1233-26
	Continuation
	16/359,897
	Mar 20, 2019

Appendix 2 to the Amendment

EXHIBIT B

Additional Patent Rights

1. Immunogenic WT-1 Peptides and Methods of Use Thereof
															
	Pearl Cohen Ref.
	MSK Ref.
	Type of Filing
	Application/Patent Number
	Date of Filing

	P-76807-USP
	SK2011-072-02
	US Provisional
	61/752,799
	January 15, 2013

	P-76807-US
	SK2011-072-04
	National – US
	9,919,037
	July 14, 2015

	P-76807-US2
	SK2011-072-10
	Continuation
	15/920,335
	March 13, 2018

	P-76807-PC
	SK2011-072-03
	PCT
	PCT/US2014/011711
	January 15, 2014

	P-76807-AU
	SK2011-072-05
	National - Australia
	2014207615
	January 15, 2014

	P-76807-AU1
	SK2011-072-11
	National - Australia - Divisional
	2018241209
	January 15, 2014

	P-76807-CA
	SK2011-072-06
	National – Canada
	2,898,099
	January 15, 2014

	P-76807-CN
	SK2011-072-08
	National – China
	201480010289.3
	January 15, 2014

	P-76807-MO
	SK2011-072-14
	Extension – Macau
	J/003740
	July 1, 2019

	P-76807-CN1
	SK2011-072-12
	National - China - Divisional
	201910196887.9
	January 15, 2014

	P-76807-HK
	SK2011-072-15
	Extension – Hong Kong
	42020002109.5
	January 31, 2020

	P-76807-EP
	SK2011-072-09
	National – Europe
	EP14741142.5
	January 15, 2014

	P-76807-EP1
	(unknown)
	National – Europe – Divisional
	EP20193303.3
	August 28, 2020

	P-76807-JP
	SK2011-072-07
	National – Japan
	6486278
	January 15, 2014

	P-76807-JP1
	SK2011-072-13
	National - Japan - Divisional
	2019027238
	January 15, 2014

2. Methods and Compositions for Treating Cancer
															
	Pearl Cohen Ref.
	MSK Ref.
	Type of Filing
	Application Number
	Date of Filing

	P-79550-USP
	(unknown)
	US Provisional
	62/258,134
	Nov 20, 2015

	P-79550-PC
	SK2015-113-02
	PCT
	PCT/US2016/062865
	Nov 18, 2016

	P-79550-US
	SK2015-113-03
	National – US
	15/777,514
	May 18, 2018

	P-79550-AU
	SK2015-113-09
	National – Australia
	2016356708
	Nov 18, 2016

	P-79550-CA
	SK2015-113-04
	National – Canada
	3,005,896
	Nov 18, 2016

	P-79550-CN
	SK2015-113-05
	National – China
	201680077975.1
	Nov 18, 2016

	P-79550-HK
	(unknown)
	Extension – Hong Kong
	19119785.4
	Feb 21, 2019

	P-79550-EP
	SK2015-113-08
	National – Europe
	16867262.4
	Nov 18, 2016

	P-79550-JP
	SK2015-113-06
	National – Japan
	2018-526090
	Nov 18, 2016

	P-79550-KR
	SK2015-113-07
	National – South Korea
	10-2018-7017393
	Nov 18, 2016

3. Multi-Valent Immunotherapy Composition and Methods of Use for Treating WT1-Positive Cancers
												
	SLE Ref.
	Type of Filing
	Application Number
	Date of Filing

	SEL.102P
	US Provisional
	62/832,244
	April 10, 2019

	SEL.102XC1PCT
	PCT
	PCT/US2020/027681
	April 10, 2020

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