Document:

WEBSITE
BANNER ADVERTISING AGREEMENT

 

THIS
AGREEMENT is made the 15th day of October, 2014 2014 by and between Supreme Legal, Inc. (“Supreme”) and
RapidFilings.com, Inc. (“Advertiser”)

 

		1.	Advertiser acknowledges that the sole obligation of Supreme Inc.
("Supreme") is to display an advertising banner (the "Banner") from Advertiser which conforms to the specifications
set forth elsewhere in the insertion order attached as Annex “A” hereto (the insertion order and these General Terms
and Conditions are referred to collectively herein as the "Agreement"). In this regard, Advertiser agrees that (i) Supreme
has the right to market, display, perform, transmit and promote the Banner, and (ii) users of Supreme's services have the right
to access and use the Banner and any content and/or services directly linked to the Banner (the "Advertiser Web Content").

 

		2.	Advertising will be invoiced monthly on the first of each month,
and payment in full will be due upon receipt of the invoice. Payment for all Gaming, Tobacco, or Alcohol Advertisers will be due
and paid in advance in monthly installments. The first monthly payment must be paid prior to the display of the first of the Banners.
Subsequent monthly installments will be due and must be paid on the first of each month thereafter. Advertiser understands that
once this Agreement is executed there shall be no refunds or proration of rates or monthly installment payments if Advertiser elects
to discontinue display of the Banner prior to the expiration of the advertising term. Orders are accepted subject to the terms
and provisions of the current rate card. Advertising rates set forth in the rate card are subject to change; any rate changes will
apply to any additional advertising services requested by Advertiser after such rate change.

 

		3.	Under no circumstances shall Supreme be liable to the advertiser
for indirect, incidental, consequential, special or exemplary damages (even if such damages are foreseeable, and whether or not
Supreme has been advised of the possibility of such damages) arising from any aspect of the advertising relationship provided for
herein. Supreme shall in no event be liable to Advertiser for more than the total amount paid to Supreme by Advertiser hereunder.
Supreme makes no representations, and hereby expressly disclaims all warranties, express or implied, regarding Supreme's services
or any portion thereof, including any implied warranty of merchantability or fitness for a particular purpose and implied warranties
arising from course of dealing or course of performance. Without limiting the generality of the foregoing, Supreme specifically
disclaims any warranty regarding (i) the number of persons who will access the Banner and (ii) any benefit Advertiser might obtain
from including the banner within Supreme's Web site.

 

		4.	Advertiser is solely responsible for any legal liability arising
out of or relating to the Banner and/or the Advertiser Web Content. Advertiser represents and warrants that (1) the Banner complies
with Supreme's advertising standards; (2) Advertiser holds the necessary rights to permit the use of the Banner by Supreme for
the purposes of this Agreement (3) the use, reproduction, distribution or transmission of the Banner will not violate any criminal
laws, rules or regulations or any rights of any third parties, including, but not limited to, such violations as infringement or
misappropriation of any copyright, patent, trademark, trade secret, music, image, or other proprietary or property right, false
advertising, unfair competition, defamation, invasion of privacy or rights of celebrity, violation of any anti-discrimination law
or regulation, or any other right of any person or entity; (4) neither the Banner nor the Advertiser's Web Content shall advertise
or enable the sale of alcohol to persons under 21; (5) neither the Banner nor the Advertiser's Web Content shall advertise or enable
the sale of tobacco or tobacco products to persons under 21; and (6) Advertiser's Web Content complies with all laws, rules and
regulations of the state, country or territory in which it is located. Advertiser agrees to indemnify Supreme and to hold Supreme
harmless from any and all liability, loss, damages, claims, or causes of action, including reasonable legal fees and expenses that
may be incurred by Supreme, arising out of or related to Advertiser's breach of any of the foregoing representations and warranties.

 

		5.	Supreme reserves the right to reject any advertising which is not
consistent with Supreme's standards. In addition, Supreme shall have the right, at any time, to remove any of Advertiser's advertising
and/or terminate this agreement if Supreme determines, in its sole discretion, that the Banner, Advertiser Web Content or any portion
thereof (1) violates Supreme's then applicable advertising policy; (2) violates any law, rule or regulation or if Supreme is directed
to do so by any law enforcement agency; or (iii) is otherwise objectionable to Supreme, in which event Supreme shall refund to
Advertiser a pro rata portion of the fee which Advertiser has paid to Supreme for display of the Banner (if Advertiser has paid
Supreme a flat fee).

 

		6.	Supreme and Advertiser are independent contractors, and neither Supreme
nor Advertiser is an agent, representative or partner of the other. Supreme may terminate this Agreement at any time in the event
of material breach of this Agreement by Advertiser. This Agreement sets forth the entire agreement between Advertiser and Supreme,
and supersedes any and all prior agreements (whether written or oral) of Supreme and Advertiser with respect to the subject matter
set forth herein; provided, however, that all pricing will be governed by Supreme's then-current rate card, whether in print or
electronic form. This Agreement may only be modified, or any rights under it waived, by a written document executed by both parties.
This Agreement shall be interpreted, construed and enforced in all respects in accordance with laws of the State of Nevada, without
regard to the actual state or country of incorporation or residence of Advertiser. Advertiser hereby irrevocably consents to the
exclusive jurisdiction of the courts of the State of Nevada and the federal courts situated in the State of Nevada in connection
with any action arising under this Agreement. Advertiser may not assign this Agreement, in whole or in part.

 

 

 

 

Agreed
to and accepted this 7th day of October, 2014

 

 

SUPREME
LEGAL, INC.,RapidFilings.com, Inc.

 

/s/
J.W. Harper/s/ Jeremy Markham

______________________________________________________

By:
J.W. HarperBy: Jeremy Markham

Its:
Chief Executive OfficerIts: President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANNEX
“A”

 

SUPREME
LEGAL ADVERTISING AGREEMENT

 

 

Supreme
Legal Inc.

3651
Lindell Road Suite D 1090

Las
Vegas, NV 89103

 

	Advertiser:	RapidFilings.com, Inc.
	Contact Name:	Jeremy Markham
	Contact #	 
	Email	jeremy@rapidfilings.com
	Start Date:	October 15, 2014
	End Date:	July 31, 2014
	Impressions	Up to 20,000/Mo
	Cost Per Impression	$0.05
	Min. Mon Payment	$1,000.00Exhibit 10.1

 

OPTION AGREEMENT

 

OPTION AGREEMENT
(this “Agreement”), dated as of November 7, 2014 (the “Effective Date”), among Amarantus Bioscience
Holdings, Inc., a Nevada corporation (“Amarantus”) and Lonza Walkersville, Inc., a Delaware corporation (the
“Lonza”). The parties identified above are sometimes hereinafter individually referred to as a “Party”
and collectively as the “Parties”.

 

WHEREAS, upon
the terms and subject to the conditions contained herein, Lonza has agreed to grant to Amarantus during the period beginning on
the date hereof and ending on the Option Termination Date an exclusive option to acquire all shares of Cutanogen Corporation (the
“Company”) pursuant to a Share Purchase Agreement (the “SPA”), in substantially the form
attached hereto as Exhibit A (the “Form SPA”);

 

WHEREAS, Amarantus
and Lonza entered into that certain Letter of Intent dated May 27, 2014 (the “LOI”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinafter set forth, the Parties to this Agreement agree as follows:

 

Article 1

OPTION TO ACQUIRE THE COMPANY; DELIVERIES

 

1.1         Option
to Acquire the Company. At any time after the Effective Date and through and including December 31, 2014 (the “Option
Period”), Amarantus shall have an irrevocable option (the “Option”), but not the obligation, to acquire
the Company pursuant to the SPA, on the terms and subject to the conditions set forth in the Form SPA. If Amarantus elects to exercise
the Option, such exercise shall be effected by giving written notice to Lonza on or prior to the end of the Option Period (the
date such notice is delivered, the “Option Exercise Date”).

 

1.2         Consideration
for the Option. Amarantus shall pay Lonza, as consideration for the Option, $250,000 (the “Option Consideration”),
payable in full on the Effective Date, by wire transfer of immediately available funds to an account previously specified in writing
by Lonza. The Option Consideration shall be non-refundable and shall not be creditable against any amounts payable under the SPA.

 

1.3         Actions
on Option Exercise.

 

(a)          Promptly
following the Option Exercise Date, Lonza and Amarantus shall execute and deliver the Form SPA (the date of execution and delivery
of the Form SPA pursuant to this Section 1.3, the “SPA Execution Date”).

 

(b)          Contemporaneously
with the execution of the Form SPA, Lonza and Amarantus shall each execute and deliver such other agreements, documents, instruments
and certificates as are contemplated by the Form SPA to be executed and delivered by Lonza and Amarantus, respectively, concurrently
therewith, including Lonza shall deliver Schedules to the Form SPA responsive to the representations and warranties of Lonza.

 

    	 

    	 

    

 

1.4         Cooperation.
During the Option Period, Lonza will cooperate with reasonable diligence requests of Amarantus. In addition during the Option Period,
Amarantus shall have the right to review and may provide comments to Lonza on any current clinical documents relating to the engineered
skin substitute product, which comments Lonza shall reasonably consider.

 

Article 2

REPRESENTATIONS AND WARRANTIES OF LONZA

 

As an inducement to
Amarantus to enter into this Agreement and to consummate the transactions contemplated hereby, Lonza represents and warrants to
Amarantus and agrees as follows:

 

2.1         Organization
and Authority.

 

(a)          Lonza
is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization.

 

(b)          Lonza
has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder, subject to
the terms of the Form SPA. This Agreement has been duly authorized, executed and delivered by Lonza and (assuming the valid authorization,
execution and delivery of this Agreement by Amarantus) is a legal, valid and binding obligation of Lonza enforceable in accordance
with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general application relating
to or affecting creditors’ rights and to general principles of equity.

 

2.2         No
Conflicts.

 

(a)          Neither
the execution and delivery of this Agreement nor the consummation of any of the transactions contemplated hereby (other than the
execution of and performance under the Form SPA) nor compliance with or fulfillment of the terms, conditions or provisions hereof
or thereof will, except as otherwise set forth in the Form SPA:

 

(i)          conflict
with, result in a breach of the terms, conditions or provisions of, or constitute a default, an event of default or an event creating
rights of acceleration, termination or cancellation or a loss of rights under, or result in the creation or imposition of any encumbrance
upon any of the assets or business of Lonza; or

 

(ii)         require
declarations, filings or registrations of any governmental body, except for such declarations, filings or registrations the failure
of which to be obtained or made would not reasonably be expected to materially impair the ability of Lonza to perform any of its
obligations hereunder or reasonably be expected to prevent the consummation of any of the transactions contemplated hereby.

 

    	-2-

    	 

    

 

Article 3

REPRESENTATIONS AND WARRANTIES OF OPTION HOLDER

 

As an inducement to
Lonza to enter into this Agreement and to consummate the transactions contemplated hereby, Amarantus hereby represents and warrants
to Lonza and agrees as follows:

 

3.1         Organization
and Authority.

 

(a)          Amarantus
is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization.

 

(b)          Amarantus
has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder, subject to
the terms of the Form SPA. The execution, delivery and performance of this Agreement by Amarantus have been duly authorized and
do not require any further authorization or consent of Amarantus or its stockholders. This Agreement has been duly authorized,
executed and delivered by Amarantus and (assuming the valid authorization, execution and delivery of this Agreement by Lonza) is
a legal, valid and binding agreement of Amarantus enforceable in accordance with its terms, subject to bankruptcy, insolvency,
reorganization, moratorium and similar laws of general application relating to or affecting creditors’ rights and to general
principles of equity.

 

3.2         No
Conflicts.

 

(a)          Neither
the execution and delivery of this Agreement or the consummation of any of the transactions contemplated hereby (other than the
execution of the Form SPA) nor compliance with or fulfillment of the terms, conditions and provisions hereof or thereof will, except
as otherwise set forth in the Form SPA:

 

(i)          conflict
with, result in a breach of the terms, conditions or provisions of, or constitute a default, an event of default or an event creating
rights of acceleration, termination or cancellation or a loss of rights under, or result in the creation or imposition of any encumbrance
upon any of Amarantus’s assets; or

 

(ii)         require
the approval, consent or authorization of any other person, or declarations, filings or registrations of any governmental body,
except for such approvals, consents, authorizations, declarations, filings or registrations the failure of which to be obtained
or made would not reasonably be expected to materially impair the ability of Amarantus to perform any of its obligations hereunder
or reasonably be expected to prevent the consummation of any of the transactions contemplated hereby.

 

    	-3-

    	 

    

 

Article 4

TERMINATION

 

4.1         Termination
Rights. Anything contained in this Agreement to the contrary notwithstanding, this Agreement may be terminated at any time
prior to the Option Termination Date:

 

(a)          by
the mutual written consent of Lonza and Amarantus; or

 

(b)          by
Amarantus by delivery of written notice to Lonza.

 

4.2         Effect
of Termination. In the event that this Agreement shall be terminated pursuant to this Article 4, all further obligations
of the parties under this Agreement shall be terminated without further liability of either party to the other.

 

Article 5

MISCELLANEOUS

 

5.1         Survival
of Representations and Warranties. The parties hereto hereby agree that the representations and warranties contained in
this Agreement, shall survive the execution and delivery of this Agreement.

 

5.2         Expenses.
Except as otherwise provided in this Agreement, Amarantus and Lonza shall each bear its own expenses incurred in connection with
the negotiation and execution of this Agreement and each other agreement, document and instrument contemplated by this Agreement
and the consummation of the transactions contemplated hereby and thereby, it being understood that in no event shall the Company
bear any of such costs and expenses.

 

5.3         Specific
Performance. Lonza acknowledges and agrees that the breach of this Agreement would cause irreparable damage to Amarantus
and that Amarantus will not have an adequate remedy at law. Therefore, the obligations of Lonza under this Agreement, shall be
enforceable by a decree of specific performance issued by any court of competent jurisdiction, and appropriate injunctive relief
may be applied for and granted in connection therewith. Such remedies shall, however, be cumulative and not exclusive and shall
be in addition to any other remedies which any party may have under this Agreement or otherwise.

 

5.4         Further
Assurances. Lonza and Amarantus each agrees to execute and deliver such other documents or agreements and to take such
other action as may be reasonably necessary or desirable for the implementation of this Agreement and the consummation of the transactions
contemplated hereby.

 

5.5         Submission
to Jurisdiction; Consent to Service of Process.

 

(a)          The
parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court located within the State
of Delaware over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby and each
party hereby irrevocably agrees that all claims in respect of such dispute or any suit, action proceeding related thereto may be
heard and determined in such courts. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any
objection which they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense
of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

 

    	-4-

    	 

    

 

(b)          Each
of the parties hereto hereby consents to process being served by any party to this Agreement in any suit, action or proceeding
by the mailing of a copy thereof in accordance with the provisions of Section 5.9.

 

5.6         Entire
Agreement; Amendments and Waivers. This Agreement together with the LOI represents the entire understanding and agreement
between the parties hereto with respect to the subject matter hereof and can be amended, supplemented or changed, and any provision
hereof can be waived, only by written instrument making specific reference to this Agreement signed by the party against whom enforcement
of any such amendment, supplement, modification or waiver is sought. No action taken pursuant to this Agreement, including without
limitation, any investigation by or on behalf of any party, shall be deemed to constitute a waiver by the party taking such action
of compliance with any representation, warranty, covenant or agreement contained herein. The waiver by any party hereto of a breach
of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver
of any other or subsequent breach. No failure on the part of any party to exercise, and no delay in exercising, any right, power
or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy
by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies
hereunder are cumulative and are not exclusive of any other remedies provided by law.

 

5.7         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

 

5.8         Table
of Contents and Headings. The table of contents and section headings of this Agreement are for reference purposes only
and are to be given no effect in the construction or interpretation of this Agreement.

 

5.9         Notices.
All notices and other communications under this Agreement shall be in writing and shall be deemed given when delivered personally
or mailed by certified mail, return receipt requested, to the parties (and shall also be transmitted by facsimile to the Persons
receiving copies thereof) at the following addresses (or to such other address as a party may have specified by notice given to
the other party pursuant to this provision):

 

		(a)	Amarantus:

 

Amarantus Biosciences
Holdings, Inc.

c/o Janssen Labs @ QB3

953 Indiana St.

San Francisco, CA 94107

Phone: 408 737 2734

Fax: 408 521 3636

Attention: Gerald Commissiong, President & CEO

 

    	-5-

    	 

    

 

Copy to:

 

Jeffrey Fessler,
Esq.

Sichenzia Ross Friedman Ference LLP

1065 Avenue of the Americas

New York, New York 10006

Phone: (212) 930-9700

Facsimile: (212) 930-9725

 

		(b)	Lonza and Company:

 

Lonza Walkersville,
Inc.

8830 Biggs Ford Road

Walkersville, Maryland 21793

Phone: 301.378.1212 

Facsimile: 301.845.6099

Attn: David Smith, Head of Cell Therapy 

 

Copy to:

 

Lonza America,
Inc.

90 Boroline Road

Allendale, New Jersey 07401

Phone: 201.316.9318

Facsimile: 201.696.3632

Attention: General Counsel

 

5.10       Severability.
If any provision of this Agreement is invalid or unenforceable, the balance of this Agreement shall remain in effect.

 

5.11       Binding
Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors
and permitted assigns. Nothing in this Agreement shall create or be deemed to create any third party beneficiary rights in any
person or entity not a party to this Agreement except as provided below. No assignment of this Agreement or of any rights or obligations
hereunder may be made by either Lonza or Amarantus (by operation of law or otherwise) without the prior written consent of the
other Party hereto and any attempted assignment without the required consents shall be void.

 

[Signature Page Follows]

 

    	-6-

    	 

    

 

IN WITNESS WHEREOF,
each Party hereto has caused this Option Agreement to be executed on its behalf by its duly authorized representative.

 

	LONZA WALKERSVILLE, INC.	 	AMARANTUS BIOSCIENCE HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ David W. Smith	 	By:	/s/ Gerald Commissiong
	 	 	 	 	 
	Name:	David W. Smith	 	Name:	Gerald Commissiong
	 	 	 	 	 
	Title:	Head, Cell Therapy	 	Title:	President & CEO

 

    	-7-

    	 

    

 

Exhibit A

 

Form SPA

 

(on following pages)

 

    	 

    	 

    

 

SHARE PURCHASE AGREEMENT

 

AMONG

 

AMARANTUS BIOSCIENCE HOLDINGS, INC.

 

AND

 

LONZA WALKERSVILLE, INC.

 

Dated November [*], 2014

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	Section	 	Page
	 	 	 
	Article I DEFINITIONS/INTERPRETATION 	 	1
	Article II SALE AND PURCHASE OF SHARES	 	4
	Article III PURCHASE PRICE AND PAYMENT	 	4
	Article IV CLOSING AND TERMINATION	 	7
	Article V REPRESENTATIONS AND WARRANTIES OF THE SELLER	 	7
	Article VI REPRESENTATIONS AND WARRANTIES OF PURCHASER	 	16
	Article VII COVENANTS	 	18
	Article VIII CONDITIONS TO CLOSING	 	21
	Article IX DOCUMENTS TO BE DELIVERED	 	23
	Article X INDEMNIFICATION	 	26
	Article XI MISCELLANEOUS	 	31

 

    	i

    	 

    

 

SHARE PURCHASE AGREEMENT

 

THIS SHARE PURCHASE AGREEMENT
(the “Agreement”) is made effective as of November [*], 2014 (the “Effective Date”), among Amarantus Bioscience
Holdings, Inc., a Nevada corporation (the “Purchaser”) and Lonza Walkersville, Inc., the sole shareholder of the Company
(the “Seller”).

 

WITNESSETH:

 

WHEREAS, the Seller owns
[*]shares of common stock, $[*] par
value (the “Shares”), of the Company, which Shares constitute all of the issued and outstanding shares of capital stock
of the Company; and

 

WHEREAS, the Seller desires
to sell to Purchaser, and the Purchaser desires to purchase from the Seller, the Shares for the purchase price and upon the terms
and conditions hereinafter set forth;

 

WHEREAS, simultaneously
with the execution of this Agreement, the Seller and the Purchaser will enter into a Manufacturing Services Agreement (“MSA”)
pursuant to which Seller will manufacture ESS Product for Purchaser in accordance with the terms set forth therein;

 

WHEREAS, simultaneously
with the execution of this Agreement, the Seller and the Purchaser will enter into a Finder’s Fee Agreement (“Finder’s
Fee Agreement”);

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants and agreements hereinafter contained, the parties hereby agree as follows:

 

Article
I

 

DEFINITIONS / INTERPRETATION

 

1.1           Certain
Definitions. Whenever used in this Agreement with an initial capital letter, the terms defined in this Section 1.1 and elsewhere
in this Agreement, whether used in the singular or plural, shall have the meanings specified:

 

"Affiliate" shall
mean, as to any Person, any other Person that directly or indirectly controls, or is controlled by, or is under common control
with, such Person. For this purpose, "control" (including, with its correlative meanings, "controlled by" and
"under common control with") shall mean the possession, directly or indirectly, of the power to direct or cause the direction
of management or policies of a Person, whether through the ownership of securities or partnership or other ownership interests,
by contract or otherwise.

 

“Business” means
the business and activities comprising the research, study, development, synthesis, manufacture, distribution, marketing, sale,
promotion, and commercialization of ESS Product or the exploitation of assets related thereto as now or previously conducted, or
currently proposed to be conducted, by the Seller or the Company.

 

"Code"
shall mean the Internal Revenue Code of 1986, as amended.

 

“Combination
Product” means an Earnout Product that incorporates at least one clinically active or other component with independent
value in addition to the ESS component contained therein. All references to “Earnout Product” in this Agreement shall
be deemed to include Combination Products.

 

    	 

    	 

    

 

“Commercially Reasonable
Efforts” means with respect to Purchaser’s obligations under this Agreement to develop an Earnout Product, the
carrying out of such obligations or tasks with a level of effort and resources consistent with the commercially reasonable practices
devoted by a biotechnology company of similar size and resources as Purchaser for the research, development, manufacture or commercialization
of a product owned by it (or to which it has exclusive rights) at a similar stage of development or commercialization and of similar
market potential, profit potential and strategic value, based on conditions then prevailing. Such efforts may take into account,
without limitation, issues of safety and efficacy, regulatory authority-approved labeling, product profile, the competitiveness
of alternative products in the marketplace, pricing/reimbursement for the product in a country relative to other markets, the likely
timing of the product’s entry into the market, the patent and other proprietary position, the likelihood of regulatory approval
and other relevant scientific, technical and commercial factors.

 

“Company”
means Cutanogen Corporation, an Ohio corporation.

 

“Dollars”
means the legal currency of the United States of America.

 

“Earnout Product”
means any product, the manufacture, use, sale or importation of which is covered by any Valid Claim of the Patent Rights or that
materially incorporates any Know-How owned or licensed by the Company that is acquired by Purchaser hereunder or any improvement
thereto or derivative thereof, which improvement or derivative does not require the filing of a new Product IND.

 

“ESS Product” means any
product or process comprising (a) engineered skin substitutes; (b) all variants of engineered skin substitutes; and (c) all derivatives
of (a) or (b).3

 

“Governmental or Regulatory Authority”
means any U.S. or non-U.S. federal, state, local or other governmental, administrative or regulatory (including self-regulatory)
authority, body, agency, court, tribunal or similar entity, including any taxing authority, including any work council or similar
labor entity or any instrumentality of any of the foregoing, including the U.S. Food and Drug Administration (“FDA”).

 

"Intellectual Property
Rights" shall have the meaning as set forth in Section 5.17(b).

 

"Know-How" means any technical
and other information, whether patented or unpatented, including, but without prejudice to the generality of the foregoing, ideas,
concepts, trade secrets, know-how, inventions, discoveries, data, formulae, specifications, processes, procedures for experiments
and tests and other protocols, results of experimentation and testing, fermentation and purification techniques and assay protocols
related to the ESS Product.

 

“Net Sales”
means the gross amount invoiced for sales of Earnout Products by Purchaser, its Affiliates, licensees, distributors, representatives
and agents, less:

 

(a)          sales
returns and allowances actually paid, granted or accrued, including trade, quantity and cash discounts and any other adjustments,
including those granted on account of price adjustments or billing errors;

 

(b)          rejected
goods, damaged or defective goods, recalls, returns;

 

 

3 Note to Draft:
Definition of ESS to be discussed.

 

    	2

    	 

    

 

(c)          rebates,
chargeback rebates, compulsory rebates, reimbursements or similar payments granted or given to wholesalers or other distributors,
buying groups, health care insurance carriers or other institutions;

 

(d)          adjustments
arising from consumer discount programs or other similar programs;

 

(e)          non
collectable receivables related to Earnout Products not to exceed one percent (1%) of the gross amount invoiced;

 

(f)          customs
or excise duties, sales tax, consumption tax, value added tax, and other taxes or governmental fees (except income taxes); or

 

(g)          charges
for packing, freight, shipping and insurance (to the extent that borne by the selling Person).

 

The aggregate of the
foregoing deductions shall not exceed five percent (5%) of the gross amount invoiced for sales of Earnout Products by Purchaser,
its Affiliates, licensees, distributors, representatives and agents. Each of the foregoing deductions shall be determined as incurred
in the ordinary course of business in type and amount consistent with good industry practice and in accordance with generally accepted
accounting principles (“GAAP”) or other applicable accounting principles on a basis consistent with Purchaser’s
audited consolidated financial statements.

 

In the event an Earnout
Product is sold as a Combination Product, Net Sales will be calculated as follows:

 

(i)          If
the ESS component of a Combination Product and the other component(s) contained in such Combination Product are sold separately,
Net Sales of the Earnout Product will be calculated by multiplying the total Net Sales of the Combination Product by the fraction
A/(A+B), wherein A is the average gross selling price in the applicable country of the ESS component sold separately in the same
formulation and dosage, and B is the sum of the average gross selling prices in the applicable country of all other components
in the Combination Product sold separately, during the applicable calendar quarter.

 

(ii)         If
the average gross selling price of the other component(s) cannot be determined, Net Sales will be calculated by multiplying the
Net Sales of the Combination Product by the fraction A/C wherein A is the average gross selling price of the ESS component (in
the same formulation and dosage) and C is the average gross selling price of the Combination Product, during the applicable calendar
quarter.

 

(iii)        If
the average gross selling price of the ESS component of a Combination Product cannot be determined, Net Sales of the Combination
Product will be calculated by multiplying the Net Sales of the Combination Product by: one (1) minus B/C wherein B is the average
gross selling price of the other components(s) and C is the average gross selling price of the Combination Product, during the
applicable calendar quarter.

 

(iv)        If
the average gross selling price of neither the ESS component of a Combination Product nor the other component(s) can be determined,
Net Sales of the Combination Product will be calculated as mutually agreed based on good faith negotiations.

 

    	3

    	 

    

 

"Patent Rights" means the
patents and patent applications owned by or licensed to the Company as of the Effective Date, short particulars of which are set
out in Schedule 5.17 attached hereto, and all patents and applications thereof of any kind throughout the world whether
national or regional including but without prejudice to the generality of the foregoing, author certificates, inventor certificates,
improvement patents, utility certificates and models and certificates of addition, and including any provisionals, divisions, renewals,
continuations, continuations-in-part, reissues, reexaminations, substitutions, extensions, patent disclosures, improvements and
extensions of reissue thereof.

 

"Person"
shall mean an individual, a corporation, a limited liability company, a partnership, an association, a trust or any other person
or entity, including a governmental authority.

 

“Transfer
Taxes” means all transfer, sales, use, value added, goods and services, excise, gross proceeds, reporting, recording,
filing, documentary, stamp, conveyance and other similar fees, Taxes and charges arising out of or in connection with the transfers
effected pursuant to this Agreement.

 

"Valid Claim" means a claim
within the Patent Rights (including any re-issued and unexpired patents) which, but for the license hereof, would be infringed
by the manufacture, use, sale, offer for sale, exportation or importation of any Earnout Product by Purchaser and which also (a)
has not been cancelled, withdrawn, abandoned or rejected by any administrative agency or other body of competent jurisdiction,
and (b) has not been revoked, held invalid or declared unpatentable or unenforceable in a decision of a court or other body of
competent jurisdiction that is unappealable or unappealed within the time allowed for appeal, and (c) has not been rendered unenforceable
through disclaimer or otherwise, and (d) has not been disclaimed or otherwise dedicated to the public by Lonza, and (e) is not
lost through an interference proceeding and any appeals therefrom.

 

Article
II

SALE AND PURCHASE OF SHARES

 

2.1          Sale
and Purchase of Shares and Certain Assets

 

Upon the terms and subject
to the conditions contained herein, on the Closing Date Seller shall sell, assign, transfer, convey and deliver to the Purchaser,
and the Purchaser shall purchase from the Seller, all Shares of the Company owned by the Seller.

 

In addition to the foregoing, upon the terms
and subject to the conditions contained herein, on the Closing Date, Seller shall sell to the Purchaser, and the Purchaser shall
purchase from the Seller certain assets owned by Seller set forth on Schedule 2.1, which assets shall be free and clear
of any liens, pledges, or encumbrances of any kind (the “Assets”).

 

The parties agree that Seller will be granted
an exclusive right to manufacture the ESS Product for a limited period of time, as set forth in the MSA. As between the Parties,
Purchaser shall be responsible for all regulatory aspects of the ESS Product and all associated expenses, including expenses associated
with gaining regulatory approval and those which Seller might incur under the MSA.

 

Article
III

PURCHASE PRICE AND PAYMENT

 

3.1         Amount
of Purchase Price.

 

(a)          General.
As partial consideration for the Shares, the Purchaser shall pay to the Seller the non-refundable amounts set forth in the table
below (each, a “Milestone Payment”) upon the occurrence of the corresponding event, which amounts shall be payable
to Seller by the Purchaser in accordance with Section 3.1(b).

 

    	4

    	 

    

 

	Event	 	Payment
	Closing	 	$4,000,000 Dollars (the “First Milestone”)
	
        Successful Completion of Phase 1 Clinical
        Trial or

        submission for Humanitarian Use Exemption
        or similar exemption (“HUE”), compassionate care or regulatory submission to the FDA or EMA (whichever occurs sooner)

         
	 	$1,000,000 Dollars (the “Second Milestone”)
	
        Submission of a Biologic License Application
        to the FDA (or equivalent agency if the first submission is outside the United States)

        or the approval of HUE by the FDA or EMA
        (whichever occurs sooner)
	 	$4,000,000 Dollars (the “Third Milestone” and together with the First Milestone and the Second Milestone, the “Milestones”)
	Total potential Milestone payments	 	$9 million Dollars

 

(b)          Payment.
Each Milestone Payment shall be due and payable ten (10) Business Days after the occurrence of the corresponding event in the table,
except for the amount due at Closing, which will be payable at Closing; any such amounts will be payable in cash.

 

3.2          Earnout.

 

In addition to the
amounts payable under Section 3.1, Purchaser shall pay to Seller two percent (2%) of Net Sales of each Earnout Product (the “Earnout”)
until the later of: (a) expiration of the last to expire Valid Claim among the Patent Rights; and (b) ten (10) years after the
first commercial sale of any Earnout Product (the “Royalty Term”).

 

(a)          Offsets.
If the Purchaser is required to obtain a royalty-bearing license from any third Person following the Effective Date of this Agreement
(“Third Party License”) in order to avoid infringing such third Person’s patents by use of the Patent Rights
in the manufacture, use, sale, offer for sale or importation of any Earnout Product, then the Purchaser shall have the right to
offset from the Earnout amounts due in this Section 3.2 by fifty percent (50%) of the royalty rate paid to third Persons under
any Third Party License; provided, however, that in no case will the royalties due under this Section 3.2 to Seller be reduced
by more than 50% of the Earnout amount that would otherwise be due. For example, if Amarantus were to pay a royalty of 1% under
a Third Party License, then the Earnout due Lonza would be reduced to 1.5%, and if Amarantus pay a royalty of 3% under a Third
Party License, then the Earnout due Lonza would be reduced to 1%. 

 

(b)          Earnout
Reduction. If an Earnout Product is not covered by a Valid Claim in any country in which it is being sold, then the Earnout
due Seller for such Earnout Product in such country shall be reduced by fifty percent (50%); provided, however, that in no case,
shall the royalty due under Section 3.2 be reduced by more than 50% of the amount that would otherwise be due.

 

    	5

    	 

    

 

(c)          Payment.
Following first commercial sale of an Earnout Product and for so long as an Earnout is due to Seller, the Purchaser shall provide
to the Seller a written report for each calendar quarter showing the Net Sales during such calendar quarter and the Earnout payable
under this Section 3.2 in sufficient detail to allow the Seller to verify the amount of Earnout paid by the Purchaser with respect
to such calendar quarter. Such reports shall be due no later than forty-five (45) days following the end of each calendar quarter.
The Earnout shown to have accrued by each report provided under this Section 3.2(c) shall be due and payable on the date such report
is due. All Earnout payments shall be made in Dollars by electronic wire transfer of immediately available funds to an account
designated in writing by the Seller to the Purchaser at least five (5) Business Days prior to the date when the payment is due.
If any currency conversion is required in connection with the calculation of the Earnout, such conversion shall be made in a manner
consistent with the Purchaser’s normal practices used to prepare its audited financial statements for external reporting
purposes.

 

(d)          Records
and Audits. 

 

(i)          The
Purchaser will keep complete, true and accurate books and records in sufficient detail for the Seller to determine payments due
to the Seller under this Article III, including Earnouts. The Purchaser will keep such books and records for at least three (3)
years following the end of the calendar year to which they pertain. 

 

(ii)         The
Seller shall have the right during such three (3)-year period to appoint at its expense an independent certified public accountant
of nationally recognized standing (the “Accounting Firm”) reasonably acceptable to the Purchaser to inspect
or audit the relevant records of the Purchaser to verify such amounts were correctly determined; provided that if the Purchaser
requests, the Accounting Firm will execute a confidentiality agreement on customary terms under such circumstances. The Purchaser
shall make such records available for audit by the Accounting Firm during regular business hours at such place or places where
such records are customarily kept, upon reasonable notice from the Seller, solely to verify such payments hereunder were correctly
determined. Such audit right shall not be exercised by the Seller more than once in any calendar year and may cover a period ending
not more than thirty-six (36) months prior to the date of such request. All records made available for audit shall be deemed to
be confidential information of the Purchaser. If the amount paid hereunder was over-reported, the Seller shall promptly (but in
any event no later than thirty (30) days after the Accounting Firm’s report) make payment to the Purchaser of the over-reported
amount, or if the amount paid was under-reported, the Purchaser shall promptly (but in any event no later than thirty (30) days
after the Accounting Firm’s report) make payment to the Seller of the underreported amount. The Seller shall bear the full
cost of such audit unless such audit discloses an underreporting of more than five percent (5%) of the aggregate amount payable
for the term of the audit, in which case the Purchaser shall reimburse the Seller for all expenses of third Persons incurred in
connection with such audit.

 

(iii)        
The Accounting Firm will disclose to the Seller only whether the payments are correct or incorrect and the specific details concerning
any discrepancies. No other information will be provided to the Seller without the prior written consent of the Purchaser unless
disclosure is required by applicable law. The Accounting Firm shall provide a copy of its report and findings to the Seller and
the Purchaser simultaneously.

 

3.3         Diligence.

 

The Purchaser shall
use Commercially Reasonable Efforts to successfully complete all clinical trials and regulatory submissions and shall be responsible
for each of them, at its cost.

 

    	6

    	 

    

 

3.4         Taxes.

 

Each Party shall be
responsible for its own Tax liabilities arising under this Agreement. Accordingly, the Seller shall be liable for all income Taxes
(including interest) imposed upon any payments made by the Purchaser to the Seller under this Agreement (“Agreement Payments”).
If applicable law requires the withholding of Taxes, the Purchaser shall make such withholding payments in a timely manner and
shall subtract the amount thereof from the payments hereunder, and such withheld amounts shall be treated for all purposes of this
Agreement as having been paid to the Seller. The Purchaser shall promptly (as available) submit to the Seller appropriate proof
of payment of the withheld Taxes as well as the official receipts within a reasonable period of time.  The Purchaser shall
provide the Seller reasonable assistance in order to allow the Seller to obtain the benefit of any present or future treaty against
double taxation or refund or reduction in Taxes which may apply to the payments hereunder. Notwithstanding the foregoing, if as
a result of a Party assigning this Agreement or changing its domicile additional Taxes become due that would not have otherwise
been due hereunder with respect to Agreement Payments, such Party shall be responsible for all such additional Taxes. Notwithstanding
anything to the contrary, all Transfer Taxes incurred in connection with this Agreement (including any real property transfer Tax
and any other similar Tax) shall be borne and paid by Purchaser when due. Purchaser shall, at its own expense, timely file any
Tax Return or other document with respect to such Taxes or fees (and Seller shall reasonably cooperate with respect thereto). The
Parties shall use commercially reasonable efforts to minimize the amount of any Transfer Taxes, including by providing appropriate
documentation in connection with any available exemption from or reduction in the amount of such Transfer Taxes.

 

Article
IV

CLOSING

 

4.1         Closing
Date.

 

The closing of the sale
and purchase of the Shares provided for in Section 2.1 hereof (the "Closing") shall take place at the offices of Sichenzia
Ross Friedman Ference LLP (or at such other place as the parties may designate in writing) on the Effective Date. The date on which
the Closing shall be held is referred to in this Agreement as the "Closing Date".

 

Article
V

REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

The Seller hereby represents
and warrants to the Purchaser as of the date of this Agreement and as of the Closing Date, subject to the disclosures and exceptions
set forth in the Disclosure Schedules delivered by Seller to Purchaser on the date hereof and attached hereto (the “Disclosure
Schedules”), provided, however, that any disclosure made in any section of the Disclosure Schedules shall only apply
to the section of the Agreement that corresponds to the section of the Disclosure Schedules, unless it is reasonably apparent on
the face of such disclosure that such disclosure is relevant to another Section of this Agreement:

 

5.1.         Organization
and Good Standing of the Company. The Company is a corporation duly organized, validly existing and in good standing under
the laws of the jurisdiction of its incorporation as set forth above. Except as otherwise provided herein, the Company is not required
to be qualified to transact business in any other jurisdiction where the failure to so qualify would have a Material Adverse Effect.

 

    	7

    	 

    

 

5.2.        Authority.

 

(a)          The
Company has full power and authority (corporate and otherwise) to carry on its business and has all permits and licenses that are
necessary to the conduct of its business or to the ownership, lease or operation of its properties and assets, except where the
failure to have such permits and licenses would not have a material adverse effect on the Company’s business or operations
(“Material Adverse Effect”).

 

(b)          The
execution of this Agreement and the delivery hereof to the Purchaser and the sale contemplated herein have been, or will be prior
to Closing, duly authorized by the Company’s Board of Directors and by the Company’s shareholders having full power
and authority to authorize such actions.

 

(c)          Subject
to any consents required under Section 5.7 below, the Seller and the Company have the full legal right, power and authority to
execute, deliver and carry out the terms and provisions of this Agreement; and this Agreement has been duly and validly executed
and delivered on behalf of Seller and the Company and constitutes a valid and binding obligation of each Seller and the Company
enforceable in accordance with its terms.

 

(d)          Except
as set forth in Section 5.2, neither the execution and delivery of this Agreement, the consummation of the transactions herein
contemplated, nor compliance with the terms of this Agreement will violate, conflict with, result in a breach of, or constitute
a default under any statute, regulation, indenture, mortgage, loan agreement, or other agreement or instrument to which the Company
or Seller is a party or by which it or any of them is bound, any charter, regulation, or bylaw provision of the Company, or any
decree, order, or rule of any court or governmental authority or arbitrator that is binding on the Company or any Seller in any
way, except where such would not have a Material Adverse Effect.

 

5.3.        Shares.

 

(a)          The
Company’s authorized capital stock consists of [*] shares of Common Stock,
par value $ [*] per share, of which [*]
shares have been issued to the Seller. All of the Shares are duly authorized, validly issued, fully paid and non-assessable.

 

(b)          The
Seller is the lawful record and beneficial owner of all the Shares, free and clear of any liens, pledges, encumbrances, charges,
claims or restrictions of any kind, and have, or will have on the Closing Date, the absolute, unilateral right, power, authority
and capacity to enter into and perform this Agreement without any other or further authorization, action or proceeding, except
as specified herein.

 

(c)          There
are no authorized or outstanding subscriptions, options, warrants, calls, contracts, demands, commitments, convertible securities
or other agreements or arrangements of any character or nature whatever under which Seller or the Company are or may become obligated
to issue, assign or transfer any shares of capital stock of the Company. Upon the delivery to Purchaser on the Closing Date of
the certificate(s) representing the Shares, Purchaser will have good, legal, valid, marketable and indefeasible title to all the
then issued and outstanding shares of capital stock of the Company, free and clear of any liens, pledges, encumbrances, charges,
agreements, options, claims or other arrangements or restrictions of any kind.

 

5.4.         Basic
Corporate Records. The copies of the Articles of Incorporation of the Company, (certified by the Secretary of State or other
authorized official of the jurisdiction of incorporation), and the Bylaws of the Company, as the case may be (certified as of the
date of this Agreement as true, correct and complete by the Company’s secretary or assistant secretary), all of which have
been delivered to the Purchaser, are true, correct and complete as of the date of this Agreement.

 

    	8

    	 

    

 

5.5.        Minute
Books. The minute books of the Company, which shall be exhibited to the Purchaser between the date hereof and the Closing Date,
each contain true, correct and complete minutes and records of all meetings, proceedings and other actions of the shareholders,
Boards of Directors and committees of such Boards of Directors of the Company, if any, except where such would not have a Material
Adverse Effect and, on the Closing Date, will, to the best of Seller’s knowledge, contain true, correct and complete minutes
and records of any meetings, proceedings and other actions of the shareholders, respective Boards of Directors and committees of
such Boards of Directors of each such corporation.

 

5.6.        Subsidiaries
and Affiliates. The Company does not have any ownership, voting or profit and loss sharing percentage interest in any other
corporations, partnerships, businesses, entities, enterprises or organizations.

 

5.7.        Consents.
Except as set forth in Schedule 5.7, no consents or approvals of any public body or authority and no consents or waivers
from other parties to leases, licenses, franchises, permits, indentures, agreements or other instruments are (i) required
for the lawful consummation of the transactions contemplated hereby, or (ii) necessary in order that the Business currently
conducted by the Company can be conducted by the Purchaser in the same manner after the Closing as heretofore conducted by the
Company, nor will the consummation of the transactions contemplated hereby result in creating, accelerating or increasing any liability
of the Company, except where the failure of any of the foregoing would not have a Material Adverse Effect.4

 

5.8.        Financial
Statements. Schedule 5.8 sets forth the Company’s assets and liabilities as of the date set forth therein, which
information is true, complete and correct and fairly presents the financial condition, assets, and liabilities of the Company as
of the dates thereof and for the periods covered thereby.

 

The financial information
set forth in Schedule 5.8 does not contain any items of special or nonrecurring income or any other income not earned in
the ordinary course of business except as set forth in Schedule 5.8. There are no facts, to the best of Seller’s knowledge,
that under generally accepted accounting principles consistently applied, would alter the information contained in Schedule
5.8.

 

5.9.        Records
and Books of Account. Schedule 5.9 reflects all material items of income and expense and all material assets, liabilities
and accruals, have been, and to the Closing Date will be, regularly kept and maintained in conformity with GAAP applied on a consistent
basis with preceding years.

 

5.10.      Absence
of Undisclosed Liabilities. Except as disclosed in Schedule 5.10, there are no liabilities or obligations of the Company
of any kind whatsoever, whether accrued, fixed, absolute, contingent, determined or determinable, and including without limitation
(i) liabilities to former, retired or active employees of the Company under any pension, health and welfare benefit plan,
vacation plan or other plan of the Company, (ii) tax liabilities incurred in respect of or measured by income for any period
prior to the close of business on the Balance Sheet Date, or arising out of transactions entered into, or any state of facts existing,
on or prior to said date, and (iii) contingent liabilities in the nature of an endorsement, guarantee, indemnity or warranty,
and there is no condition, situation or circumstance existing or which has existed that could reasonably be expected to result
in any liability of the Company, other than liabilities and contingent liabilities incurred in the ordinary course of business
since the Balance Sheet Date consistent with the Company’s recent customary business practice, none of which is materially
adverse to the Company.

 

 

4
Note: Necessary consents for assignment of upstream agreements to be included.

 

    	9

    	 

    

 

5.11       Taxes.

 

(a)          For
purposes of this Agreement, “Tax” or “Taxes” refers to: (i) any and all federal, state, local and foreign
taxes, assessments and other governmental charges, duties, impositions and liabilities relating to taxes, including taxes based
upon or measured by gross receipts, income, profits, sales, use and occupation, and value added, ad valorem, transfer, franchise,
withholding, payroll, recapture, employment, excise and property taxes and escheatment payments, together with all interest, penalties
and additions imposed with respect to such amounts and any obligations under any agreements or arrangements with any other person
with respect to such amounts and including any liability for taxes of a predecessor entity; (ii) any liability for the payment
of any amounts of the type described in clause (i) as a result of being or ceasing to be a member of an affiliated, consolidated,
combined or unitary group for any period (including, without limitation, any liability under Treas. Reg. Section 1.1502-6
or any comparable provision of foreign, state or local law); and (iii) any liability for the payment of any amounts of the type
described in clause (i) or (ii) as a result of any express or implied obligation to indemnify any other person or as a result of
any obligations under any agreements or arrangements with any other person with respect to such amounts and including any liability
for taxes of a predecessor entity.

 

(b)          

 

(i)          The
Company has timely filed all material federal, state, local and foreign returns, estimates, information statements and reports
(“Returns”) relating to Taxes required to be filed by the Company with any Tax authority effective through the Closing
Date. The Company has paid all Taxes shown to be due on such Returns. Except as listed on Schedule 5.11 hereto, the Company
is not currently the beneficiary of any extensions of time within which to file any Returns.

 

(ii)         The
Company has not been delinquent in the payment of any Tax nor is there any Tax deficiency outstanding or assessed against the Company.
The Company has not executed any unexpired waiver of any statute of limitations on or extending the period for the assessment or
collection of any Tax.

 

(iii)        There
is no dispute, claim, or proposed adjustment concerning any Tax liability of the Company either (A) claimed or raised by any
Tax authority in writing or (B) based upon personal contact with any agent of such Tax authority, and there is no claim for assessment,
deficiency, or collection of Taxes, or proposed assessment, deficiency or collection from the Internal Revenue Service or any other
governmental authority against the Company which has not been satisfied. The Company is not a party to nor has it been notified
in writing that it is the subject of any pending, proposed, or threatened action, investigation, proceeding, audit, claim or assessment
by or before the Internal Revenue Service or any other governmental authority, nor does the Company have any reason to believe
that any such notice will be received in the future. The Company has not filed any requests for rulings with the Internal Revenue
Service. Except as provided to the Company’s accountants, no power of attorney has been granted by the Company or its Affiliates
with respect to any matter relating to Taxes of the Company. There are no Tax liens of any kind upon any property or assets of
the Company, except for inchoate liens for Taxes not yet due and payable.

 

5.12.      Accounts
Receivable. The Company has no accounts receivable as of the date hereof.

 

5.13.      Inventory.
The Company maintains no inventory as of the date hereof.

 

5.14.      Machinery
and Equipment. The Company does not own or lease any machinery, tools, furniture, fixtures, equipment, vehicles, leasehold
improvements or other tangible personal property (hereinafter “Fixed Assets”).

 

    	10

    	 

    

 

5.15.      Real
Property Matters. The Company does not own any real property as of the date hereof and has not owned any real property during
the three years preceding the date hereof.

 

5.16.      Leases.
The Company does not lease any real or personal property as of the date hereof.

 

5.17.      Proprietary
Rights.

 

(a)          Schedule
5.17 sets forth a complete and correct list of: (i) all Patent Rights owned by or licensed to the Company and all pending
patent applications or other applications for registration of Intellectual Property Rights owned by or licensed to the Company;
(ii) all trade names and unregistered trademarks and designs used by the Company; (iii) all material unregistered copyrights
and computer software owned or used by the Company; and (iv) all licenses or similar agreements to which the Company is a
party either as licensee or licensor for the Intellectual Property Rights other than agreements pursuant to which the Company has
licensed off-the-shelf commercial software available for not more than $5,000 per application.

 

(b)          The
Company has, or has rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names,
trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights as necessary or material
for use in connection with its Business and which the failure to so have could reasonably be expected to have a Material Adverse
Effect (collectively, the “Intellectual Property Rights”); (ii) the Company has not received a notice (written
or otherwise) that any of the Intellectual Property Rights violates or infringes upon the rights of any Person; (iii) all such
Intellectual Property Rights are enforceable and, to the knowledge of Seller, there is no existing misappropriation or infringement
by another Person of any of the Intellectual Property Rights, except where the failure to be so enforceable or for such infringements
as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the knowledge of the
Seller, the Intellectual Property owned by the Company is valid, subsisting, and in full force and effect.

 

(c)          To
the knowledge of the Seller, all necessary documents, certificates and fees associated with filing, prosecuting, maintaining, preserving
or renewing any Intellectual Property Rights have been filed with and paid in full to the proper Governmental or Regulatory Authority
except where the failure of any of the foregoing would not have a Material Adverse Effect. Except as set forth on Schedule 5.17(c),
to the knowledge of Seller, there are no actions that must be taken by the Company within one hundred twenty (120) days of the
Closing Date, including the payment of any registration, maintenance or renewal fees or the filing of any responses to office actions
of any Governmental or Regulatory Authority, documents, applications or certificates for the purposes of obtaining, maintaining,
perfecting or preserving or renewing any Intellectual Property Rights.

 

(d)          To
the actual knowledge of Seller, all current and former employees, consultants and independent contractors of the Company have entered
into a valid and binding Contract with the Company or the Seller sufficient to vest title in the Company of all Intellectual Property
Rights created by such employees, consultants and independent contractors in the scope of their employment or engagement with the
Company, as applicable.

 

(e)          The
Company has not disclosed, furnished to or made accessible any of its trade secrets within the Intellectual Property to any Person
who is not subject to a written agreement to maintain the confidentiality of such Trade Secrets. Each of the Seller and the Company
has, and reasonably enforces, a policy requiring each employee, consultant and independent contractor to execute a proprietary
information, confidentiality and assignment agreement.

 

    	11

    	 

    

 

5.18.      Banking
and Personnel Lists. The Seller and the Company will deliver to the Purchaser prior to the Closing Date the following accurate
lists and summary descriptions relating to the Company: the name of each bank in which the Company has an account or safe deposit
box and the names of all persons authorized to draw thereon or have access thereto.

 

5.19.      Lists
of Contracts, Etc. There is included in Schedule 5.19 a list of the following items (whether written or oral) relating
to the Company, which list identifies and fairly summarizes each item:

 

(i)          all
contracts pursuant to which the Company has obtained or granted rights under any Intellectual Property Rights, including any covenant
not to enforce or assert and any other contract under which the Company is a licensor or licensee of Intellectual Property Rights;

 

(ii)         all
contracts entered into by the Company in settlement of any third party claims or other dispute against or with the Company relating
to the Business;

 

(iii)        all
contracts for the research, development, manufacture or supply of ESS Products;

 

(ii)         All
joint venture contracts of the Company or affiliates relating to the Business;

 

(iii)        All
contracts of the Company relating to (a) obligations for borrowed money, (b) obligations evidenced by bonds, debentures,
notes or other similar instruments, (c) obligations to pay the deferred purchase price of property or services, except trade
accounts payable arising in the ordinary course of business, (d) obligations under capital leases, (e) debt of others
secured by a lien on any asset of the Company, and (f) debts of others guaranteed by the Company.

 

(iv)        All
agreements of the Company relating to the supply of advertising inventory and raw materials for and the distribution of the products
of its business, including without limitation all sales agreements, manufacturer’s representative agreements and distribution
agreements of whatever magnitude and nature, and any commitments therefor;

 

(v)         All
contracts that individually provide for aggregate future payments to or from the Company of $25,000 or more, to the extent not
included in (i) through (iv) above;

 

(vi)        All
contracts of the Company that have a term exceeding one year and that may not be cancelled without any liability, penalty or premium,
to the extent not included in (i) through (v) above;

 

(vii)       A
complete list of all outstanding powers of attorney granted by the Company; and

 

(viii)      All
other contracts of the Company material to the business, assets, liabilities, financial condition, results of operations or prospects
of the Business taken as a whole to the extent not included above.

 

    	12

    	 

    

 

5.20.      Except
as set forth in Schedule 5.20, (i) all contracts, agreements and commitments of the Company set forth in Schedule
5.20 are valid, binding and in full force and effect, and (ii) neither the Company nor, to the best of Seller’s’
knowledge, any other party to any such contract, agreement, or commitment has materially breached any provision thereof or is in
default thereunder. Except as set forth in Schedule 5.20, the sale of the Shares by the Seller is in accordance with this
Agreement will not result in the termination of any contract, agreement or commitment of the Company set forth in Schedule 5.20,
and immediately after the Closing, each such contract, agreement or commitment will continue in full force and effect without the
imposition or acceleration of any burdensome condition or other obligation on the Company resulting from the sale of the Shares
by the Seller. True and complete copies of the contracts, leases, licenses and other documents referred to in this Schedule
5.20 will be delivered to the Purchaser, certified by the Secretary or Assistant Secretary of the Company as true, correct
and complete copies, not later than four weeks from the date hereof or ten business days before the Closing Date, whichever is
sooner.

 

There are no pending
disputes with customers or vendors of the Company regarding quality or return of goods involving amounts in dispute with any one
customer or vendor, whether for related or unrelated claims, in excess of $5,000 except as described on Schedule 5.20 hereto,
all of which will be resolved to the reasonable satisfaction of Purchaser prior to the Closing Date. To the best knowledge of Seller
and the Company, there has not been any event, happening, threat or fact that would lead them to believe that any of said customers
or vendors will terminate or materially alter their business relationship with the Company after completion of the transactions
contemplated by this Agreement.

 

5.21.       Compliance
With the Law. The Company is not in violation of any applicable federal, state, local or foreign law, regulation or order or
any other, decree or requirement of any governmental, regulatory or administrative agency or authority or court or other tribunal
(including, but not limited to, any law, regulation order or requirement relating to securities, properties, business, products,
manufacturing processes, advertising, sales or employment practices, terms and conditions of employment, occupational safety, health
and welfare, conditions of occupied premises, product safety and liability, civil rights, or environmental protection, including,
but not limited to, those related to waste management, air pollution control, waste water treatment or noise abatement), except
where such would not have a Material Adverse Effect. Except as set forth in Schedule 5.21, the Company has not been and
is not now charged with, or to the best knowledge of the Seller or the Company under investigation with respect to, any violation
of any applicable law, regulation, order or requirement relating to any of the foregoing, nor, to the best knowledge of any Seller
or the Company after due inquiry, are there any circumstances that would or might give rise to any such violation. The Company
has filed all reports required to be filed with any governmental, regulatory or administrative agency or authority.

 

5.22.      Litigation;
Pending. Except as specifically identified on the Balance Sheet or footnotes thereto or set forth in Schedule 5.22:

 

(i)            There
are no legal, administrative, arbitration or other proceedings or governmental investigations pending or, to the best knowledge
of Seller or the Company, threatened, against the Seller or the Company, relating to its business or the Company or its properties
(including leased property), or the transactions contemplated by this Agreement, nor is there any basis known to the Company or
any Seller for any such action.

 

(ii)           There
are no judgments, decrees or orders of any court, or any governmental department, commission, board, agency or instrumentality
binding upon Seller or the Company relating to its business or the Company the effect of which is to prohibit any business practice
or the acquisition of any property or the conduct of any business by the Company or which limit or control or otherwise adversely
affect its method or manner of doing business.

 

(iii)          There
are no charges of discrimination (relating to sex, age, race, national origin, handicap or veteran status) or unfair labor practices
pending or, to the best knowledge of the Seller or the Company, threatened before any governmental or regulatory agency or authority
or any court relating to employees of the Company.

 

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5.23.      Absence
of Certain Changes or Events. The Company has not, since the Balance Sheet Date, and except in the ordinary course of business
consistent with past practice and/or except as described on Schedule 5.23:

 

(i)          Incurred
any material obligation or liability (absolute, accrued, contingent or otherwise), except in the ordinary course of its business
consistent with past practice or in connection with the performance of this Agreement, and any such obligation or liability incurred
in the ordinary course is not materially adverse, except for claims, if any, that are adequately covered by insurance;

 

(ii)         Discharged
or satisfied any lien or encumbrance, or paid or satisfied any obligations or liability (absolute, accrued, contingent or otherwise)
other than (a) liabilities shown or reflected on the Balance Sheet, and (b) liabilities incurred since the Balance Sheet
Date in the ordinary course of business that were not materially adverse;

 

(iii)        Increased
or established any reserve or accrual for taxes or other liability on its books or otherwise provided therefor, except (a) as
disclosed on the Balance Sheet, or (b) as may have been required under generally accepted accounting principles due to income
earned or expense accrued since the Balance Sheet Date and as disclosed to the Purchaser in writing;

 

(iv)        Mortgaged,
pledged or subjected to any lien, charge or other encumbrance any of its assets, tangible or intangible;

 

(v)         Sold
or transferred any of its assets or cancelled any debts or claims or waived any rights, except in the ordinary course of business
and which has not been materially adverse;

 

(vi)        Disposed
of or permitted to lapse any patents or trademarks or any patent or trademark applications material to the ESS Product;

 

(vii)       Incurred
any significant labor trouble or granted any general or uniform increase in salary or wages payable or to become payable by it
to any employee or agent, or by means of any bonus or pension plan, contract or other commitment increased the compensation of
any employee or agent;

 

(viii)      Authorized
any capital expenditure for real estate or leasehold improvements, machinery, equipment or molds in excess of $5,000.00 in the
aggregate;

 

(ix)         Except
for this Agreement or as otherwise disclosed herein or in any schedule to this Agreement, entered into any material transaction;

 

(x)          Issued
any stocks, bonds, or other corporate securities, or made any declaration or payment of any dividend or any distribution in respect
of its capital stock; or

 

(xi)         Experienced
damage, destruction or loss (whether or not covered by insurance) individually or in the aggregate materially and adversely affecting
any of its properties, assets or business, or experienced any other material adverse change or changes individually or in the aggregate
affecting its financial condition, assets, liabilities or business.

 

5.24.      Assets.
The assets of the Company are located at the locations listed on Schedule 5.24 attached hereto. Except as described in Schedule
5.24, the assets of the Company are, and together with the additional assets to be acquired or otherwise received by the Company
prior to the Closing, will at the Closing Date be, sufficient in all material respects to carry on the operations of the Business
as now conducted by the Company. Except as described in Schedule 5.24, the Company is the only business organization through which
the Business is conducted. Except as set forth in Schedule 5.16 or Schedule 5.24, all assets used by the Seller and
the Company to conduct the Business are, and will on the Closing Date be, owned by the Company.

 

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5.25.      Absence
of Certain Commercial Practices. Except as described on Schedule 5.25, neither the Company nor any Seller has made any
payment (directly or by secret commissions, discounts, compensation or other payments) or given any gifts to another business concern,
to an agent or employee of another business concern or of any governmental entity (domestic or foreign) or to a political party
or candidate for political office (domestic or foreign), to obtain or retain business for the Company or to receive favorable or
preferential treatment, except for gifts and entertainment given to representatives of customers or potential customers of sufficiently
limited value and in a form (other than cash) that would not be construed as a bribe or payoff.

 

5.26.      Licenses,
Permits, Consents and Approvals. The Company has, and at the Closing Date will have, all licenses, permits or other authorizations
of governmental, regulatory or administrative agencies or authorities (collectively, “Licenses”) required to conduct
the Business, except for any failures of such which would not have a Material Adverse Effect. All Licenses of the Company are listed
on Schedule 5.26 hereto. At the Closing, the Company will have all such Licenses which are material to the conduct of its
business and will have renewed all Licenses which would have expired in the interim. Except as listed in Schedule 5.26,
no registration, filing, application, notice, transfer, consent, approval, order, qualification, waiver or other action of any
kind (collectively, a “Filing”) will be required as a result of the sale of the Shares by Seller in accordance with
this Agreement (a) to avoid the loss of any License or the violation, breach or termination of, or any default under, or the
creation of any lien on any asset of the Company pursuant to the terms of, any law, regulation, order or other requirement or any
contract binding upon the Company or to which any such asset may be subject, or (b) to enable Purchaser (directly or through
any designee) to continue the operation of the Company and the Business substantially as conducted prior to the Closing Date. All
such Filings will be duly filed, given, obtained or taken on or prior to the Closing Date and will be in full force and effect
on the Closing Date.

 

5.27.      Environmental
Matters. Except as set forth on Schedule 5.27 hereto, the operations of the Company, to the best knowledge of Seller,
are in compliance with all applicable laws promulgated by any governmental entity which prohibit, regulate or control any hazardous
material or any hazardous material activity (“Environmental Laws”) and all permits issued pursuant to Environmental
Laws or otherwise except for where noncompliance or the absence of such permits would not, individually or in the aggregate, have
a Material Adverse Effect;

 

5.28      Broker.
Except as specified in Schedule 5.28, neither the Company nor any Seller has retained any broker in connection with any
transaction contemplated by this Agreement. Purchaser and the Company shall not be obligated to pay any fee or commission associated
with the retention or engagement by the Company or Seller of any broker in connection with any transaction contemplated by this
Agreement.

 

5.29.      Related
Party Transactions. Except as described in Schedule 5.29, all transactions during the past five years between the Company
and any current or former shareholder or any entity in which the Company or any current or former shareholder had or has a direct
or indirect interest have been fair to the Company as determined by the Board of Directors. No portion of the sales or other on-going
business relationships of the Company is dependent upon the friendship or the personal relationships (other than those customary
within business generally) of Seller, except as described in Schedule 5.29. During the past five years, the Company has
not forgiven or cancelled, without receiving full consideration, any indebtedness owing to it by Seller.

 

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5.30       USA
PATRIOT Act. The Company and the Seller certify that the Company has not been designated, and is not owned or controlled, by
a “suspected terrorist” as defined in Executive Order 13224. The Company and the Seller hereby acknowledge that the
Purchaser seeks to comply with all applicable laws concerning money laundering and related activities. In furtherance of those
efforts, the Company and the Seller hereby represent, warrant and agree that: (i) none of the cash or property that the Seller
have contributed or paid or will contribute and pay to the Company has been or shall be derived from, or related to, any activity
that is deemed criminal under United States law; and (ii) no contribution or payment by the Company to the Purchaser, to the extent
that they are within the Company’s control shall cause the Purchaser to be in violation of the United States Bank Secrecy
Act, the United States International Money Laundering Control Act of 1986 or the United States International Money Laundering Abatement
and Anti-Terrorist Financing Act of 2001. The Seller shall promptly notify the Purchaser if any of these representations ceases
to be true and accurate regarding the Seller or the Company. The Seller agrees to provide the Purchaser any additional information
regarding the Company that the Purchaser reasonably requests to ensure compliance with all applicable laws concerning money laundering
and similar activities.

 

5.31.      Disclosure.
All statements contained in any schedule, certificate, opinion, instrument, or other document delivered by or on behalf of the
Seller or the Company pursuant hereto or in connection with the transactions contemplated hereby shall be deemed representations
and warranties by Seller and/or the Company, as the case may be. No statement, representation or warranty by the Seller or the
Company in this Agreement or in any schedule, certificate, opinion, instrument, or other document furnished or to be furnished
to the Purchaser pursuant hereto or in connection with the transactions contemplated hereby knowingly contains or will contain
any untrue statement of a material fact or omits or will knowingly omit to state a material fact required to be stated therein
or necessary to make the statements contained therein not misleading or necessary in order to provide a prospective purchaser of
the business of the Company with full and fair disclosure concerning the Company, its business, and the Company’s affairs.

 

5.32       No
Other Representations or Warranties. Except for the representations and warranties made by the Seller in this Article V, neither
the Seller nor any other person makes any representation or warranty with respect to the Company or, notwithstanding the delivery
or disclosure to Purchaser or any of its Affiliates or representatives of any documentation, forecasts or other information with
respect to any one or more of the foregoing.

 

Article
VI

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

6.1         Organization
and Good Standing.

 

The Purchaser is a corporation
duly organized, validly existing and in good standing under the laws of the State of Nevada. Except as otherwise provided herein,
the Purchaser is not required to be qualified to transact business in any other jurisdiction where the failure to so qualify would
have an adverse effect on the business of the Purchaser.

 

6.2         Authority.

 

(a)          The
execution and delivery of this Agreement and the consummation of the transactions contemplated herein have been, or will prior
to Closing be, duly and validly approved and acknowledged by all necessary corporate action on the part of the Purchaser.

 

(b)          The
execution of this Agreement and the delivery hereof to the Seller and the purchase contemplated herein have been, or will be prior
to Closing, duly authorized by the Purchaser’s Board of Directors having full power and authority to authorize such actions.
No other corporate action on the part of Purchaser is necessary to authorize the execution, delivery and performance by Purchaser
of this Agreement and the consummation by it of the Agreement. No vote of the holders of any class or series of Purchaser's
capital stock or other securities is necessary for the consummation by Purchaser of the Agreement.

 

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(c)          Subject
to any consents required under Section 6.3 below, the Purchaser has the full legal right, power and authority to execute, deliver
and carry out the terms and provisions of this Agreement; and this Agreement has been duly and validly executed and delivered on
behalf of the Purchaser and constitutes a valid and binding obligation of the Purchaser enforceable in accordance with its terms.

 

6.3         Conflicts;
Consents of Third Parties.

 

(a)          The
execution and delivery of this Agreement, the acquisition of the Shares by Purchaser and the consummation of the transactions herein
contemplated, and the compliance with the provisions and terms of this Agreement, are not prohibited by the Articles of Incorporation
or Bylaws of the Purchaser and will not violate, conflict with or result in a breach of any of the terms or provisions of, or constitute
a default under, any statute, regulation, court order, decree or rule of any court or governmental authority or arbitrator, indenture,
mortgage, loan agreement, or other agreement or instrument to which the Purchaser is a party or by which it is bound.

 

(b)          No
consent, waiver, approval, order, permit or authorization of, or declaration or filing with, or notification to, any person or
governmental body is required on the part of the Purchaser in connection with the execution and delivery of this Agreement or the
compliance by Purchaser with any of the provisions hereof or thereof.

 

6.4         Litigation.

 

There
are no legal proceedings pending or, to the best knowledge of the Purchaser, threatened that are reasonably likely to prohibit
or restrain the ability of the Purchaser to enter into this Agreement or consummate the transactions contemplated hereby
nor is there any injunction, order, judgment, ruling or decree imposed upon Purchaser or any of its
subsidiaries, in each case, by or before any governmental authority, that would, individually or in the aggregate, reasonably be
expected to impair in any material respect the ability of Purchaser to perform its obligations hereunder.

 

6.5         Investment
Intention.

 

The Purchaser is acquiring
the Shares for its own account, for investment purposes only and not with a view to the distribution (as such term is used in Section
2(11) of the Securities Act of 1933, as amended (the "Securities Act") thereof. Purchaser understands that the Shares
have not been registered under the Securities Act and cannot be sold unless subsequently registered under the Securities Act or
an exemption from such registration is available.

 

6.6.        Brokers.
Except as specified in Schedule 6.6, the Purchaser has not retained any broker in connection
with any transaction contemplated by this Agreement. Seller shall not be obligated to pay any fee or commission associated with
the retention or engagement by the Purchaser of any broker in connection with any transaction contemplated by this Agreement.

 

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6.7          USA
PATRIOT Act. The Purchaser certifies that neither the Purchaser nor any of its subsidiaries has been designated, and is not
owned or controlled, by a “suspected terrorist” as defined in Executive Order 13224. The Purchaser hereby acknowledges
that the Company and the Seller seek to comply with all applicable laws concerning money laundering and related activities. In
furtherance of those efforts, the Purchaser hereby represents, warrants and agrees that: (i) none of the cash or property that
the Purchaser has contributed or paid or will contribute and pay to the Seller has been or shall be derived from, or related to,
any activity that is deemed criminal under United States law; and (ii) no contribution or payment by the Purchaser or any of its
subsidiaries to the Seller, to the extent that they are within the Purchaser’s control shall cause the Seller or the Company
to be in violation of the United States Bank Secrecy Act, the United States International Money Laundering Control Act of 1986
or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. The Purchaser shall promptly
notify the Seller if any of these representations ceases to be true and accurate regarding the Purchaser or any of its subsidiaries.
The Purchaser agrees to provide the Seller any additional information regarding the Purchaser or any of its subsidiaries that the
Seller reasonably requests to ensure compliance with all applicable laws concerning money laundering and similar activities.

 

6.8          No
Reliance. Notwithstanding anything contained in this Agreement to the contrary, Purchaser acknowledges and agrees that (a)
neither the Seller nor any person on behalf of the Seller is making any representations or warranties whatsoever, express or implied,
beyond those expressly made by the Seller in Article V, and (b) Purchaser has not been induced by, or relied upon, any representations,
warranties or statements (written or oral), whether express or implied, made by any person, that are not expressly set forth in
Article V of this Agreement. Without limiting the generality of the foregoing, Purchaser acknowledges that no representations or
warranties are made with respect to any projections, forecasts, estimates, budgets or information as to prospects with respect
to the Company’s business that may have been made available to Purchaser or any of its representatives.

 

Article
VII

COVENANTS

 

7.1         Consents.

 

The Seller shall use
its best efforts, and the Purchaser shall cooperate with the Seller, to obtain at the earliest practicable date all consents and
approvals required to consummate the transactions contemplated by this Agreement, including, without limitation, the consents and
approvals referred to in Section 5.7 hereof; provided, however, that neither the Seller nor the Purchaser shall be obligated to
pay any consideration therefor to any third party from whom consent or approval is requested.

 

7.2         Other
Actions.

 

Each of the Seller and
the Purchaser shall use its best efforts to (i) take all actions necessary or appropriate to consummate the transactions contemplated
by this Agreement and (ii) cause the fulfillment at the earliest practicable date of all of the conditions to their respective
obligations to consummate the transactions contemplated by this Agreement. Each of the Seller and the Purchaser shall promptly
take the necessary steps to transfer the IND from Seller to Purchaser.

 

7.3         Preservation
of Records.

 

Subject to Section 7.6(d)
hereof (relating to the preservation of Tax records), the Seller and the Purchaser agree that each of them shall preserve and keep
the records held by it relating to the business of the Company for a period of three years from the Closing Date and shall make
such records and personnel available to the other as may be reasonably required by such party in connection with, among other things,
any insurance claims by, legal proceedings against or governmental investigations of the Seller or the Purchaser or any of their
Affiliates or in order to enable the Seller or the Purchaser to comply with their respective obligations under this Agreement and
each other agreement, document or instrument contemplated hereby or thereby.

 

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7.4         Publicity.

 

Neither the Seller nor
the Purchaser shall issue any press release or public announcement concerning this Agreement or the transactions contemplated hereby
without obtaining the prior written approval of the other party hereto, which approval will not be unreasonably withheld or delayed,
unless, in the sole judgment of the Purchaser or the Seller, disclosure is otherwise required by applicable law or by the applicable
rules of any stock exchange on which the Purchaser or Seller lists securities, provided that, to the extent required by applicable
law or applicable rules of any stock exchange, the party intending to make such release shall use its best efforts consistent with
such applicable law or applicable rules of any stock exchange to consult with the other party with respect to the text thereof
prior to making such release.

 

7.5         Tax
Election.

 

The Seller may agree
to make a timely election under Internal Revenue Code Section 338(h)(10) (“338(h)(10) election”), and, if such election
is made, Purchaser shall indemnify and hold harmless Seller from and against any Tax imposed on Seller as a result of having made
any such 338(h)(10) election to the extent that such Tax exceeds the Tax that the Seller would incur in the absence of such election
(the “Purchaser Tax Payments”). Within sixty (60) days of any such 338(h)(10) election, Seller shall provide a calculation
of such additional Tax. Unless within thirty-five (35) business days of delivery of such calculation by Seller to Purchaser, Seller
has received a written objection from Purchaser to such tax calculation then such calculation shall be considered final with respect
to this matter (the “Final Tax”). If within thirty-five (35) business days of delivery of the tax calculation by Seller
to Purchaser, Seller receives a written objection from Purchaser to such tax calculation, then the Seller and Purchaser shall attempt
to reconcile their differences diligently and in good faith and any resolution by them shall be final, binding and conclusive.
If the Seller and the Purchaser are unable to reach a resolution with such effect within ten (10) business days of the Seller’s
receipt of the Purchaser’s written notice, the Seller and the Purchaser shall submit such dispute for resolution to an independent
tax accounting firm mutually appointed by the Seller and the Purchaser (the “Independent Tax Firm”), which shall determine
and report to the parties and such report shall be final, binding and conclusive on the parties hereto. The fees and disbursements
of the Independent Tax Firm shall be shared equally by the Seller and the Purchaser. In the event that the Seller incurs any Tax
obligations as a result of the 338(h)(10) election as determined by the Final Tax which are in excess of amounts due had the transactions
set forth herein been taxed as a stock sale, then the amount that the Purchaser shall be required to reimburse Seller under this
paragraph (1) shall be grossed up to assure that Seller does not incur any Tax cost as a result of the 338(h)(10) election and
the reimbursement payments under this paragraph and (2) shall take into account the highest marginal income tax rate applicable
to payments of this type. Any Purchaser Tax Payments shall be treated by the parties as additional Seller Purchase Price and shall
be paid to Seller not less than fourteen (14) days prior to the time Seller is required to pay such amounts.

 

7.6         Tax
Matters.

 

(a)          Tax
Periods Ending on or Before the Closing Date. The Seller shall prepare or cause to be prepared and file or cause to be filed
all Tax Returns for the Company for all periods ending on or prior to the Closing Date which are filed after the Closing Date as
soon as practicable and prior to the date due (including any proper extensions thereof). The Seller shall permit the Company and
the Purchaser to review and provide comments, if any, on each stand-alone Return described in the preceding sentence prior to filing.
Each Tax Return shall be prepared in a manner consistent with (i) applicable laws, (ii) this Agreement, and (iii) the past practice
in preparing its income Tax Returns. The Company shall deliver to the Seller each such Return signed by the appropriate officer(s)
of the Company for filing within ten (10) days following the Seller’s delivery to the Company and the Purchaser of any such
Return. The Seller shall deliver to the Company promptly after filing each such Return a copy of the filed Return and evidence
of its filing. The Seller shall pay the costs and expenses incurred in the preparation and filing of the Tax Returns on or before
the date such costs and expenses are due.

 

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(b)          Tax
Periods Beginning Before and Ending After the Closing Date. The Company or the Purchaser shall prepare or cause to be prepared,
at its own expense, and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date
and end after the Closing Date. Each Tax Return shall be prepared in a manner consistent with (i) applicable laws, (ii) this Agreement,
and (iii) the past practice in preparing its income Tax Returns. To the extent such Taxes are not fully reserved for in the Company’s
financial statements, the Seller shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates
to the portion of the Tax period ending on the Closing Date. Purchaser shall deliver a copy of each draft Tax Return and a statement
setting forth Seller’s portion of Taxes reflected on such draft Tax Return, if any (a “Straddle Period Allocation Statement”),
to Seller for its review and comment no later than thirty (30) days prior to the due date for such Tax Return. If Seller and Purchaser
are unable to resolve any dispute regarding such draft Tax Return or the related Straddle Period Allocation Statement within fifteen
(15) days after Purchaser submits such Tax Return and Straddle Period Allocation Statement to Seller then the dispute shall be
finally and conclusively resolved by an Independent Tax Firm, which shall determine and report to the parties and such report shall
be final, binding and conclusive on the parties. The fees and disbursements of the Independent Tax Firm shall be shared equally
by the Seller and the Purchaser. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and
are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to
the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related
to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator
of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days
in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or
receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. Any net operating
losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though
the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall
be made in a reasonable manner as agreed to by the parties.

 

(c)          Refunds
and Tax Benefits. If Purchaser or the Company receives any refund, repayment or credit of Taxes (i) paid by the Seller at any
time on or prior to the Closing Date, or (ii) paid by the Seller pursuant to this Agreement, the Purchaser shall pay over to Seller
any such refund, repayment or credit within five (5) days after receipt of such refund, repayment or credit. For the purpose of
this Section, the Purchaser shall be deemed to receive a Tax credit on the date when, and to the extent that, the Purchaser or
any of its Affiliates would have been obliged to pay Tax but for the use of that Tax credit. Such Tax credit shall be the amount
by which such Tax payment is reduced as a result of the receipt and use of that Tax credit.

 

(d)          Cooperation
on Tax Matters.

 

(i)          The
Purchaser, the Company and the Seller shall cooperate fully, as and to the extent reasonably requested by the other party, in connection
with the filing of any Returns pursuant to this Section and any audit, litigation or other proceeding with respect to Taxes. Such
cooperation shall include the retention and (upon the other party's request) the provision of records and information which are
reasonably relevant to any such audit, litigation or other proceeding and making employees available on a mutually convenient basis
to provide additional information and explanation of any material provided hereunder. The Company and the Seller agree (A) to retain
all books and records with respect to Tax matters pertinent to the Company relating to any taxable period beginning before the
Closing Date until the expiration of the statute of limitations (and, to the extent notified by the Purchaser or the Seller, any
extensions thereof) of the respective tax periods, and to abide by all record retention agreements entered into with any taxing
authority, and (B) to give the other party reasonable written notice prior to transferring, destroying or discarding any such books
and records and, if the other party so requests, the Company or the Seller, as the case may be, shall allow the other party a reasonable
opportunity, at such other party’s expense, to take possession of such books and records.

 

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(ii)         The
Purchaser and the Seller further agree, upon request, to use their commercially reasonable best efforts to obtain any certificate
or other document from any governmental authority or any other Person as may be necessary to mitigate, reduce or eliminate any
Tax that could be imposed (including, but not limited to, with respect to the transactions contemplated hereby).

 

(iii)        The
Purchaser and the Seller further agree, upon request, to provide the other party with all information that either party may be
required to report pursuant to §6043 of the Code and all Treasury Department Regulations promulgated thereunder.

 

7.10       Non-Solicitation.

 

Following Closing Date
and for a period of two (2) years after the Closing Date, Purchaser agrees not to seek to induce or solicit any employee of the
Seller or its Affiliates to discontinue his or her employment with the Seller or its Affiliates in order to become an employee
or an independent contractor of the Purchaser or its Affiliates; provided, however, that Purchaser shall not be in violation of
this Section as a result of making a general solicitation for employees or independent contractors. For the avoidance of doubt,
the publication of an advertisement shall not constitute solicitation or inducement. If Purchaser hires any employee of Seller
or its Affiliates regardless of whether in violation of this Section 7.10, then Purchaser will pay to Seller a fee of twenty-five
thousand dollars ($25,000) per employee so hired, and such payment shall be Seller’s sole and exclusive remedy.

 

Article
VIII

DOCUMENTS TO BE DELIVERED

 

8.1         Documents
to be Delivered by the Seller.

 

At the Closing, the Seller
shall deliver, or cause to be delivered, to the Purchaser the following:

 

(a)          stock
certificates representing the Shares, duly endorsed in blank or accompanied by stock transfer powers and with all requisite stock
transfer tax stamps attached; 

 

(b)          certificates
(dated the Closing Date and in form and substance reasonably satisfactory to the Purchaser) executed by the Seller certifying as
to the fulfillment of the following conditions:

 

(i)          all
representations and warranties of the Seller contained herein shall be true and correct as of the date hereof;

 

(ii)         all
representations and warranties of the Seller contained herein qualified as to materiality shall be true and correct, and the representations
and warranties of the Seller contained herein not qualified as to materiality shall be true and correct in all material respects,
at and as of the Closing Date;

 

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(iii)        the
Seller shall have performed and complied in all material respects with all obligations and covenants required by this Agreement
to be performed or complied with by it on or prior to the Closing Date; and

 

(iv)        the
Seller shall have delivered to the Purchaser a full and complete copy of any and all filings and correspondence with the FDA or
any other Governmental or Regulatory Authority related to the ESS Product.

 

(c)          copies
of all consents and waivers referred to in Section 5.7 hereof, in a form reasonably satisfactory to the Purchaser, with respect
to the transactions contemplated by this Agreement;

 

(d)          a
copy of the MSA executed by the Seller;

 

(e)          a
copy of the Finder’s Fee Agreement executed by the Seller;

 

(f)           written
resignations of each officer and director of the Company; 

 

(g)          certificate
of good standing with respect to the Company issued by the Secretary of State of the State of incorporation; 

 

(h)          a
full and complete copy of the IND filed with the FDA or any other Governmental or Regulatory Authority for the ESS Products (the
“Product IND”); 

 

(i)           an
original request to the FDA to transfer the Product IND to Purchaser, which request has been provided to Purchaser in escrow as
of the Effective Date;

 

(j)          copies
of FDA filings, batch records relating to ESS Product, and scientific experiment data relating to ESS Product;

 

(k)          copies
of assignment agreements assigning rights by each named inventor to the Patent Rights licensed to Company to the applicable Company
licensor; and

 

(l)           such
other documents as the Purchaser shall reasonably request.

 

8.2          Documents
to be Delivered by the Purchaser.

 

At the Closing, the Purchaser
shall deliver to the Seller the following:

 

(a)           The
First Milestone;

 

(b)          the
certificates (dated the Closing Date and in form and substance reasonably satisfactory to the Seller) executed by the Chief Executive
Officer and Chief Financial Officer of the Purchaser certifying as to the fulfillment of the following conditions:

 

(i)          all
representations and warranties of the Purchaser contained herein shall be true and correct as of the date hereof;

 

(ii)         all
representations and warranties of the Purchaser contained herein qualified as to materiality shall be true and correct, and all
representations and warranties of the Purchaser contained herein not qualified as to materiality shall be true and correct in all
material respects, at and as of the Closing Date; and

 

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(iii)        the
Purchaser shall have performed and complied in all material respects with all obligations and covenants required by this Agreement
to be performed or complied with by Purchaser on or prior to the Closing Date.

 

(c)          Evidence
of the dismissal with prejudice of the lawsuit filed by Regenicin, Inc. against the Seller, Lonza Group, Ltd. and Lonza America,
Inc. filed in the Superior Court of Fulton county, Georgia on September 30, 2013 at no cost to Seller or any Seller Affiliates;

 

(d)          a
copy of the MSA executed by the Purchaser;

 

(e)          a
copy of the Finder’s Fee Agreement executed by the Purchaser; and

 

(f)          such
other documents as the Seller shall reasonably request.

 

Article
IX

INDEMNIFICATION

 

9.1         Indemnification.

 

(a)          Subject
to Section 9.2 hereof, the Seller hereby agrees to indemnify and hold the Purchaser, the Company, and their respective directors,
officers, employees, Affiliates, agents, successors and assigns (collectively, the "Purchaser Indemnified Parties") harmless
from and against:

 

(i)          subject
to Section 9.3, any and all losses, liabilities, obligations, damages, costs and expenses based upon, attributable to or resulting
from the failure of any representation or warranty of the Seller set forth in Article V hereof, or any representation or warranty
contained in any certificate delivered by or on behalf of the Seller pursuant to this Agreement, to be true and correct in all
respects as of the date made; 

 

(ii)         any
and all losses, liabilities, obligations, damages, costs and expenses based upon, attributable to or resulting from the breach
of any covenant or other agreement on the part of the Seller under this Agreement; 

 

(iii)        any
and all notices, actions, suits, proceedings, claims, demands, assessments, judgments, costs, penalties and expenses, including
reasonable attorneys' and other professionals' fees and disbursements (collectively, "Expenses") incident to any and
all losses, liabilities, obligations, damages, costs and expenses with respect to which indemnification is provided hereunder (collectively,
"Losses");

 

except, in each case,
to the extent that any Losses arise from the negligence or willful misconduct of any Purchaser Indemnified Parties..

 

(b)          Subject
to Section 9.2, Purchaser hereby agrees to indemnify, defend and hold the Seller and its respective Affiliates, agents, successors
and assigns (collectively, the "Seller Indemnified Parties") harmless from and against:

 

(i)          any
and all Losses based upon, attributable to or resulting from the failure of any representation or warranty of the Purchaser set
forth in Article VI hereof, or any representation or warranty contained in any certificate delivered by or on behalf of the Purchaser
pursuant to this Agreement, to be true and correct as of the date made;

 

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(ii)         any
and all Losses based upon, attributable to or resulting from the breach of any covenant or other agreement on the part of the Purchaser
under this Agreement or arising from the ownership or operation of the Company from and after the Closing Date; 

 

(iii)        any
and all Losses based upon, attributable to or resulting from the offering to sell, sale or use of ESS Products;

 

(iv)        any
and all Losses based upon, attributable to or resulting from any action, suit, proceeding, claim, demand, or judgment relating
to any of the licensors (or such licensor’s Affiliates) of the intellectual property set forth on Schedule 5.17 in connection
with the transaction consummated by this Agreement or the Business; and

 

(v)         any
and all Expenses incident to the foregoing;

 

except, in each case,
to the extent that any Losses arise from the negligence or willful misconduct of any Seller Indemnified Parties.

 

9.2         Indemnification
Procedures.

 

(a)          In
the event that any legal proceedings shall be instituted or that any claim or demand ("Claim") shall be asserted by any
Person in respect of which payment may be sought under Section 9.1 hereof, the indemnified party shall reasonably and promptly
cause written notice of the assertion of any Claim of which it has knowledge which is covered by this indemnity to be forwarded
to the indemnifying party. The indemnifying party shall have the right, at its sole option and expense, to be represented by counsel
of its choice, which must be reasonably satisfactory to the indemnified party, and to defend against, negotiate, settle or otherwise
deal with any Claim which relates to any Losses indemnified against hereunder. If the indemnifying party elects to defend against,
negotiate, settle or otherwise deal with any Claim which relates to any Losses indemnified against hereunder, it shall within five
(5) days (or sooner, if the nature of the Claim so requires) notify the indemnified party of its intent to do so. If the indemnifying
party elects not to defend against, negotiate, settle or otherwise deal with any Claim which relates to any Losses indemnified
against hereunder, fails to notify the indemnified party of its election as herein provided or contests its obligation to indemnify
the indemnified party for such Losses under this Agreement, the indemnified party may defend against, negotiate, settle or otherwise
deal with such Claim. If the indemnified party defends any Claim, then the indemnifying party shall reimburse the indemnified party
for the Expenses of defending such Claim upon submission of periodic bills. If the indemnifying party shall assume the defense
of any Claim, the indemnified party may participate, at his or its own expense, in the defense of such Claim; provided, however,
that such indemnified party shall be entitled to participate in any such defense with separate counsel at the expense of the indemnifying
party if, (i) so requested by the indemnifying party to participate or (ii) in the reasonable opinion of counsel to the indemnified
party, a conflict or potential conflict exists between the indemnified party and the indemnifying party that would make such separate
representation advisable; and provided, further, that the indemnifying party shall not be required to pay for more than one such
counsel for all indemnified parties in connection with any Claim. The parties hereto agree to cooperate fully with each other in
connection with the defense, negotiation or settlement of any such Claim. Neither an indemnifying party nor an indemnified party
shall consent to entry of any judgment or enter into any settlement of any Claim which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party, in the case of a consent or settlement by an indemnifying
party, or the indemnifying party, in the case of a consent or settlement by the indemnified party, of a written release from all
liability in respect to such Claim.

 

    	24

    	 

    

 

(b)          After
any final judgment or award shall have been rendered by a court, arbitration board or administrative agency of competent jurisdiction
and the expiration of the time in which to appeal therefrom, or a settlement shall have been consummated, or the indemnified party
and the indemnifying party shall have arrived at a mutually binding agreement with respect to a Claim hereunder, the indemnified
party shall forward to the indemnifying party notice of any sums due and owing by the indemnifying party pursuant to this Agreement
with respect to such matter and the indemnifying party shall be required to pay all of the sums so due and owing to the indemnified
party by wire transfer of immediately available funds within ten (10) business days after the date of such notice.

 

(c)          The
failure of the indemnified party to give reasonably prompt notice of any Claim shall not release, waive or otherwise affect the
indemnifying party's obligations with respect thereto except to the extent that the indemnifying party can demonstrate actual loss
and prejudice as a result of such failure.

 

(d)          Notwithstanding
anything in this Section 9.2 to the contrary, neither an indemnifying party nor an indemnified party may settle or compromise any
claim over the objection of the other; provided, however, that consent to settlement or compromise shall not be unreasonably withheld,
conditioned or delayed. If an indemnifying party notifies the related indemnified party in writing of such indemnifying party's
desire to settle or compromise a Claim on the basis set forth in such notice (provided that such settlement or compromise includes
as an unconditional term thereof the giving by the claimant or plaintiff of a written release of the indemnified party from all
liability in respect thereof) and the indemnified party shall notify the indemnifying party in writing that such indemnified party
declines to accept any such settlement or compromise, such indemnified party may continue to contest such Claim, free of any participation
by such indemnifying party, at such indemnified party's sole expense. In such event, the obligation of such indemnifying party
to such indemnified party with respect to such Claim shall be equal to (i) the costs and expenses of such indemnified party prior
to the date such indemnifying party notifies such indemnified party of the offer to settle or compromise (to the extent such costs
and expenses are otherwise indemnifiable hereunder) plus (ii) the lesser of (x) the amount of any offer of settlement or compromise
which such indemnified party declined to accept and (y) the actual out-of-pocket amount such indemnified party is obligated to
pay subsequent to such date as a result of such indemnified party's continuing to pursue such Claim.

 

9.3         Tax
Treatment of Indemnity Payments.

 

The Seller and the Purchaser
agree to treat any indemnity payment made pursuant to this Article IX as an adjustment to the Purchase Price for federal, state,
local and foreign income tax purposes.

 

9.4          Survival
of Indemnities. The obligations of each of the parties under this Article IX shall survive the Closing Date.

 

9.5          Limitation
of Liability. Except in the case of party’s gross negligence or willful misconduct, in no event shall an indemnifying party
be liable under this Article IX for any special, consequential, indirect, incidental or punitive damages or lost profits, however
caused and on any theory of liability (including, without limitation, negligence) arising in any way out of this Article IX, whether
or not such party has been advised of the possibility of such damages; provided, however, that the foregoing limitations shall
not limit each party's indemnification obligations for liabilities to third parties as set forth in this Article IX.

 

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Article
X

MISCELLANEOUS

 

10.1       Payment
of Sales, Use or Similar Taxes.

 

All sales, use, transfer,
intangible, recordation, documentary stamp or similar Taxes or charges, of any nature whatsoever, applicable to, or resulting from,
the transactions contemplated by this Agreement shall be borne by the Purchaser.

 

10.2       Survival
of Representations and Warranties.

 

The parties hereto hereby
agree that the representations and warranties contained in this Agreement or in any certificate, document or instrument delivered
in connection herewith, shall survive the execution and delivery of this Agreement, and the Closing hereunder, regardless of any
investigation made by the parties hereto; provided, however, that any claims or actions with respect thereto (other than claims
for indemnifications with respect to the representation and warranties contained in Sections 5.3, 5.11, and 5.27 which shall survive
for periods coterminous with any applicable statutes of limitation) shall terminate unless within one hundred eighty (180) days
after the Closing Date written notice of such claims is given to the Seller or such actions are commenced.

 

10.3       Expenses.

 

Except as otherwise provided
in this Agreement, the Seller and the Purchaser shall each bear its own expenses incurred in connection with the negotiation and
execution of this Agreement and each other agreement, document and instrument contemplated by this Agreement and the consummation
of the transactions contemplated hereby and thereby, it being understood that in no event shall the Company bear any of such costs
and expenses.

 

10.4       Specific
Performance.

 

The Seller acknowledges
and agrees that the breach of this Agreement would cause irreparable damage to the Purchaser and that the Purchaser will not have
an adequate remedy at law. Therefore, the obligations of the Seller under this Agreement, including, without limitation, the Seller’s
obligation to sell the Shares to the Purchaser, shall be enforceable by a decree of specific performance issued by any court of
competent jurisdiction, and appropriate injunctive relief may be applied for and granted in connection therewith. Such remedies
shall, however, be cumulative and not exclusive and shall be in addition to any other remedies which any party may have under this
Agreement or otherwise.

 

10.5       Further
Assurances.

 

The Seller and the Purchaser
each agrees to execute and deliver such other documents or agreements and to take such other action as may be reasonably necessary
or desirable for the implementation of this Agreement and the consummation of the transactions contemplated hereby.

 

10.6       Submission
to Jurisdiction; Consent to Service of Process.

 

(a)          The
parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court located within the State
of Delaware over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby and each
party hereby irrevocably agrees that all claims in respect of such dispute or any suit, action proceeding related thereto may be
heard and determined in such courts. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any
objection which they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense
of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

 

    	26

    	 

    

 

(b)          Each
of the parties hereto hereby consents to process being served by any party to this Agreement in any suit, action or proceeding
by the mailing of a copy thereof in accordance with the provisions of Section 10.10.

 

10.7       Entire
Agreement; Amendments and Waivers.

 

This Agreement together
with the MSA and Finder’s Fee Agreement (including the schedules and exhibits hereto and thereto, respectively) represents
the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and can be amended,
supplemented or changed, and any provision hereof can be waived, only by written instrument making specific reference to this Agreement
signed by the party against whom enforcement of any such amendment, supplement, modification or waiver is sought. No action taken
pursuant to this Agreement, including without limitation, any investigation by or on behalf of any party, shall be deemed to constitute
a waiver by the party taking such action of compliance with any representation, warranty, covenant or agreement contained herein.
The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or
continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the part of any party to exercise,
and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other
right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law.

 

10.8       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

 

10.9       Table
of Contents and Headings.

 

The table of contents
and section headings of this Agreement are for reference purposes only and are to be given no effect in the construction or interpretation
of this Agreement.

 

10.10     Notices.

 

All notices and other
communications under this Agreement shall be in writing and shall be deemed given when delivered personally or mailed by certified
mail, return receipt requested, to the parties (and shall also be transmitted by facsimile to the Persons receiving copies thereof)
at the following addresses (or to such other address as a party may have specified by notice given to the other party pursuant
to this provision):

 

(a)          Purchaser:

 

Amarantus Biosciences Holdings, Inc.

c/o Janssen Labs @ QB3

953 Indiana St.

San Francisco, CA 94107

Phone: 408 737 2734

Fax: 408 521 3636

Attention: Gerald Commissiong, President
& CEO

 

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Copy to:

 

Jeffrey Fessler, Esq.

Sichenzia Ross Friedman Ference
LLP

1065 Avenue of the Americas

New York, New York 10006

Phone: (212) 930-9700

Facsimile: (212) 930-9725

 

(b)          Seller
and Company:

 

Lonza Walkersville, Inc.

8830 Biggs Ford Road

Walkersville, Maryland 21793

Phone: 301.378.1212 

Facsimile: 301.845.6099

Attn: David Smith, Head of Cell Therapy

 

Copy to:

 

Lonza America, Inc.

90 Boroline Road

Allendale, New Jersey 07401

Phone: 201.316.9318

Facsimile: 201.696.3632

Attention: General Counsel

 

10.11     Severability.

 

If any provision of this
Agreement is invalid or unenforceable, the balance of this Agreement shall remain in effect.

 

10.12     Binding
Effect; Assignment.

 

This Agreement shall
be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. Nothing in this
Agreement shall create or be deemed to create any third party beneficiary rights in any person or entity not a party to this Agreement
except as provided below. No assignment of this Agreement or of any rights or obligations hereunder may be made by either the Seller
or the Purchaser (by operation of law or otherwise) without the prior written consent of the other parties hereto and any attempted
assignment without the required consents shall be void.

 

[intentionally blank]

 

    	28

    	 

    

 

	 	PURCHASER: 
	 	 
	 	AMARANTUS BIOSCIENCE
	 	HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Print Name: 	 
	 	Title:	 
	 	 	 
	 	SELLER:	 
	 	 	 
	 	LONZA WALKERSVILLE, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Print Name: 	 
	 	Title:	 

 

    	29

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