Document:

SEC Exhibit

TERM NOTE

$23,750,000.00    Worcester, Massachusetts
May 19, 2016

FOR VALUE RECEIVED, the undersigned, IPG PHOTONICS CORPORATION, a Delaware corporation with a principal place of business at 50 Old Webster Road, Oxford, Massachusetts 01540 (the “Borrower”) hereby promises to pay to

BANK OF AMERICA, N.A.,

a national banking association organized and existing under the laws of the United States of America (the “Bank”), OR ORDER, at its office at 100 Federal Street, Boston, Massachusetts 02110, or such other place as the Bank may from time to time specify in writing, the principal sum of

TWENTY-THREE MILLION SEVEN HUNDRED FIFTY THOUSAND 
AND 00/100 DOLLARS ($23,750,000.00)

with interest on the unpaid principal until paid at the rate and in the manner hereinafter provided in lawful money of the United States of America in immediately available funds, without counterclaim or setoff and free and clear of, and without any deduction or withholding for, any taxes or other payments.

This Term Note is issued in conjunction with an Amended and Restated Loan Agreement dated as of April 30, 2015, as amended by a First Amendment to Amended and Restated Loan Agreement dated as of even date herewith, both by and between the Borrower and the Bank (as may be further amended from time to time, collectively, the “Agreement”), all the terms and conditions of which are incorporated herein by reference.  No reference to the Agreement or to any provision thereof shall affect or impair the absolute and unconditional obligation of the Borrower to pay the principal of and interest on this Term Note as herein provided.  An Event of Default under the Agreement shall also constitute an Event of Default hereunder. The occurrence of an Event of Default shall constitute a default (beyond any applicable grace or cure periods) under each of the other obligations of the Borrower to the Bank.  Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement. “$” or “dollars” denotes lawful currency of the United States of America. 

Interest shall be calculated on the daily unpaid principal balance of the indebtedness evidenced by this Term Note computed on the basis of the actual number of days elapsed over a year of 365/366 days, provided that interest shall be due for the actual number of days elapsed during each period for which interest is being charged.  Installments of principal which are not paid when due under this Term Note shall continue to bear interest until paid.

The unpaid principal of this Term Note from time to time outstanding shall bear interest per annum (the “Note Rate”) at a fluctuating rate equal to one and twenty one-hundredths percent (1.20%) above the LIBOR Rate (Adjusted Periodically) (a “LIBOR Loan”).  If the LIBOR Rate (Adjusted Periodically) becomes unavailable, then the Note Rate will be equal to the Prime Rate.

    

“Prime Rate” shall be that variable per annum rate of interest announced from time to time by the Bank as its Prime Rate. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Changes in the Note Rate resulting from changes in the Prime Rate shall take place immediately without notice or demand of any kind on the effective date of any change in the Prime Rate by the Bank.

The interest rate on each LIBOR Loan hereunder will be adjusted on the first day of each LIBOR Interest Period (each an “Adjustment Date”) and remain fixed until the next Adjustment Date.  If the Adjustment Date in any particular month would otherwise fall on a day that is not a Banking Day then, at the Bank’s option, the Adjustment Date for that particular month will be the first Banking Day immediately following thereafter.  

The “LIBOR Rate (Adjusted Periodically)” is a rate of interest equal to the rate per annum equal to the London Interbank Offered Rate (“LIBOR”) (or a comparable or successor rate which is approved by the Bank), as published by Bloomberg (or other commercially available source providing quotations of such rate as selected by the Bank from time to time) as determined for each Adjustment Date at approximately 11:00 a.m. London time two (2) London Banking Days prior to the Adjustment Date, for U.S. Dollar deposits (for delivery on the first day of such LIBOR Interest Period) with a term of one (1) month; as adjusted from time to time in the Bank’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs.  The “LIBOR Interest Period” must be fixed for a period of one (1) month.  If at any time the LIBOR Rate (Adjusted Periodically) is less than zero, such rate shall be deemed to be zero for the purposes of this Term Note.  No LIBOR Interest Period shall extend beyond the Maturity Date (defined below).

A “London Banking Day” is a day on which banks in London are open for business and dealing in offshore dollars.  The term “Banking Day” means, unless otherwise provided in this Term Note, a day other than a Saturday, Sunday or other day on which commercial banks are authorized to close, or are in fact closed, in the state where the Bank’s lending office is located, and, if such day relates to amounts bearing interest at an offshore rate (if any), any such day on which dealings in dollar deposits are conducted among banks in the offshore dollar interbank market.  All payments and disbursements which would be due on a day which is not a Banking Day will be due on the next Banking Day, and such extension of time shall be included in computing interest and fees in connection with such payment.  All payments received on a day which is not a Banking Day will be applied to the credit on the next Banking Day.

The Borrower may prepay LIBOR Loans only upon at least three (3) Banking Days prior written notice to the Bank (which notice shall be irrevocable), and any such prepayment shall occur only on the last day of the LIBOR Interest Period.  Each prepayment of an amount bearing interest at the then applicable interest rate, whether voluntary, by reason of acceleration or otherwise, will be accompanied by the amount of accrued interest on the amount prepaid, and a prepayment fee as described below.  A “prepayment” is a payment of an amount on a date other than an Adjustment Date.

Without limiting the foregoing, if the Borrower makes a prepayment of a LIBOR Loan hereunder, the Borrower shall pay to the Bank a “yield maintenance fee” in an amount computed 

as follows: The current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the term chosen pursuant to the Adjustment Date as to which the prepayment is made, shall be subtracted from the LIBOR Rate in effect at the time of prepayment.  If the result is zero or a negative number, there shall be no yield maintenance fee.  If the result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid.  The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the Adjustment Date as to which the prepayment is made.  Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the Adjustment Date as to which prepayment is made.  The resulting amount shall be the yield maintenance fee due to the Bank in respect of a prepayment.  If by reason of an Event of Default, the Bank elects to declare this Term Note immediately due and payable, then any yield maintenance fee with respect to a LIBOR Loan shall become due and payable in the same manner as though the Borrower had availed itself of a voluntary prepayment.

The Borrower shall pay interest monthly on the last day of each LIBOR Interest Period until payment in full of any principal outstanding under this Agreement.  The Borrower shall repay the principal amount outstanding in equal quarterly installments of Two Hundred Ninety-Six Thousand Eight Hundred Seventy-Five and 00/100 Dollars ($296,875.00) each, commencing on August 19, 2016 and on the same day of each November, February, May and August thereafter, and ending on the Maturity Date hereinafter defined.  All principal, interest and other indebtedness evidenced by this Term Note and due hereunder, if not sooner paid, shall be due and payable on May 19, 2023 (the “Maturity Date”).

If the entire amount of any required principal and/or interest is not paid in full within fifteen (15) days after the same is due, the Borrower shall pay to the Bank a late fee equal to four percent (4%) of the required payment. Such late charge payments are made for the purpose of compensating the Bank for its administrative, costs and expenses in handling late payments and losses in connection therewith.  This provision is not intended to provide a grace period for any payment otherwise due and payable and shall not constitute a waiver by the Bank to insist upon the strict performance of any of the Borrower’s covenants or agreements with, or obligations to, the Bank or to declare any event of default for any payment not made when it was due and payable.

All payments shall be applied first to the payment of all fees, expenses and other amounts due to the Bank (excluding principal and interest), then to accrued interest, and the balance on account of outstanding principal; provided, however, that after an Event of Default, payments will be applied to the obligations of the Borrower to the Bank as the Bank shall determine in its sole discretion.

Upon the occurrence of an Event of Default (whether or not the Bank has accelerated payment of this Term Note), or after the Maturity Date or after judgment has been rendered on this Term Note or any other Obligations under the Agreement, the Borrower’s right to select pricing options shall cease and the unpaid principal of this Term Note, including interest, fees or costs which are not paid when due, will, at the option of the Bank, bear interest at a rate which is four percent (4%) per annum greater than the rate of interest which would otherwise be applicable hereunder (the 

“Default Rate”).  This may result in compounding of interest.  This will not constitute a waiver of any Event of Default.

At its option, and at any time, whether immediately or otherwise, upon the occurrence of an Event of Default, the Bank may declare this Term Note immediately due and payable without further action of any kind including notice, further demand or presentment.

The Borrower hereby authorizes the Bank, without liability on the Bank’s part, to debit from time to time from the Automatic Payments Deposit Account the Automatic Payments.  If the funds in the Automatic Payments Deposit Account are insufficient to cover any payment, the Bank shall not be obligated to advance funds to cover the payment.  At any time for any reason, the Bank may voluntarily terminate Automatic Payments.  The Bank shall provide the Borrower timely notice of any debit made from the Automatic Payments Deposit Account or termination of Automatic Payments.  

Upon and after the occurrence of an Event of Default, (A) the Borrower hereby authorizes the Bank, at any time and from time to time, without notice, which is hereby expressly waived by the Borrower, and whether or not the Bank shall have declared any credit subject hereto to be due and payable in accordance with the terms of the Agreement, to set off against, and to appropriate and apply to the payment of, the Borrower's Obligations (whether matured or unmatured, fixed or contingent, liquidated or unliquidated), any and all amounts owing by the Bank to the Borrower (whether payable in U.S. dollars or any other currency, whether matured or unmatured, and in the case of deposits, whether general or special (except trust and escrow accounts), time or demand and however evidenced), and (B) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such Obligations and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so held as the Bank, in its sole discretion, may elect.  The Borrower hereby grants to the Bank a security interest in all deposits and accounts maintained with the Bank to secure the payment of all Obligations of the Borrower to the Bank under this Term Note, the Agreement and all agreements, instruments and documents related to this Term Note. TO THE EXTENT PERMITTED BY LAW, ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS PRIOR TO EXERCISING ITS RIGHT OF SET OFF WITH RESPECT TO SUCH DEPOSITS ARE HEREBY VOLUNTARILY, INTENTIONALLY, AND IRREVOCABLY WAIVED.

The Borrower shall pay on demand all expenses of the Bank in connection with the preparation, administration, default, collection, waiver or amendment of loan terms, or in connection with the Bank’s exercise, preservation or enforcement of any of its rights, remedies or options hereunder, including, without limitation, reasonable fees of outside legal counsel, accounting, consulting, brokerage or other similar professional fees or expenses, and any fees or expenses associated with travel or other costs relating to any appraisals or examinations conducted in connection with the Loan or any collateral therefor, and the amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral.

The Borrower and each endorser or other person now or hereafter liable for the payment of any of the indebtedness evidenced by this Term Note, severally, agrees, by making or endorsing 

this Term Note or by making any agreement to pay any of the indebtedness evidenced by this Term Note, to waive presentment for payment, protest and demand, notice of protest, demand and of dishonor and non-payment of this Term Note, and consents without notice or further assent: (a) to the substitution, exchange, or release of any collateral securing this Term Note or any part thereof at any time; (b) to the acceptance by the holder or holders at any time of any additional collateral or security of this Term Note, (c) to the modification or amendment at any time, and from time to time, of this Term Note, the Agreement and any instrument securing this Term Note, at the request of any person liable hereon; (d) to the granting by the holder hereof of any extension of the time for payment of this Term Note or for the performance of the agreements, covenants and conditions contained in this Term Note, the Agreement or any instrument securing this Term Note, at the request of any other person liable hereon; and (e) to any and all forbearances and indulgences whatsoever; and such consent shall not alter or diminish the liability of any person.

This Term Note shall be governed by, and the rights and obligations of the parties hereunder shall be construed and interpreted in accordance with, the laws of The Commonwealth of Massachusetts (excluding the laws applicable to conflicts or choice of law).  The Borrower agrees that any suit for the enforcement of this Term Note or any of the other Loan Documents may be brought in the courts of The Commonwealth of Massachusetts or any Federal Court sitting therein and consents to the non-exclusive jurisdiction of such court and to service of process in any such suit being made upon the Borrower by mail at the address specified herein.  The Borrower hereby waives any objection that it may now or hereafter have to the venue of any such suit or any such court or that such suit was brought in an inconvenient court.

THE BORROWER (AND THE BANK BY ACCEPTANCE OF THIS TERM NOTE) HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS TERM NOTE OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  THE BORROWER (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) ACKNOWLEDGES THAT IT HAVE BEEN INDUCED TO ENTER INTO THIS TERM NOTE AND THE OTHER DOCUMENTS CONTEMPLATED HEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION AND (C) CERTIFIES THAT THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE.

This Term Note is intended by the parties as the final, complete and exclusive statement of the transactions evidenced by this Term Note.  All prior or contemporaneous promises, agreements and understandings, whether oral or written, are deemed to be superseded by this Term Note, and no party is relying on any promise, agreement or understanding not set forth in this Term Note.  This Term Note may not be amended or modified except by a written instrument describing such amendment or modification executed by the Borrower and the Bank.

    

No portion of the proceeds of the Loan shall be used, in whole or in part, for the purpose of purchasing or carrying any “margin stock” as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System.

The Bank may at any time pledge or assign all or any portion of its rights under this Term Note or the Agreement (including any portion of this Term Note) to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341.  No such pledge or assignment or enforcement thereof shall release the Bank from its obligations under the Note, the Agreement or any loan documents related thereto.

Upon receipt of (i) an affidavit of an officer of the Bank as to the loss, theft, destruction or mutilation of this Term Note or any other loan document which is not of public record, and (ii) an indemnity by the Bank in favor of the Borrower with respect to losses, claims or damages resulting therefrom, and, in the case of any such loss, theft, destruction or mutilation, upon cancellation of this Term Note or other loan document, the Borrower will issue, in lieu thereof, a replacement Term Note or other loan document in the same principal amount thereof and otherwise of like tenor.

THIS SPACE INTENTIONALLY LEFT BLANK;
SIGNATURE APPEARS ON THE FOLLOWING PAGE

 

IN WITNESS WHEREOF, the Borrower has caused this Term Note to be executed by its duly authorized officer as an instrument under seal as of the day and year first above written.

	
			
	 
	 
	IPG PHOTONICS CORPORATION

	 
	 
	 

	/s/ Brenda J. Cullen
	 
	By: /s/ Timothy P.V. Mammen

	Witness
	 
	Name: Timothy P.V. Mammen

	 
	 
	Title: Senior Vice President and Chief Financial OfficerSEC Exhibit

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

FIRST AMENDED AND RESTATED
CELL THERAPY DEVELOPMENT, MANUFACTURING AND/OR TISSUE PROCESSING TERMS AND CONDITIONS

BETWEEN 

WuXi AppTec, Inc. and NewLink Genetics Corporation

This Restated and Amended Development and Manufacturing Terms and Conditions (the “Agreement”) is made and entered into as of January 4, 2016 by and between WuXi AppTec, Inc., a corporation organized under the laws of Delaware with offices located at 4751 League Island Blvd., Philadelphia, Pennsylvania (“WuXi AppTec”), and NewLink Genetics Corporation, a company organized under the laws of Delaware with offices located at 2503 South Loop Drive, Suite 5100, Ames, IA 50010 and Affiliates (Customer).  The terms stated in this Agreement supersede the Development and Manufacturing Terms and Conditions dated June 19, 2014 (Effective Date) between the Parties.  Customer and WuXi AppTec are referred to herein individually as a “Party” and collectively as the “Parties”.    

The Parties hereto agree as follows:

		
	1)
	Work Orders.  From time to time, Customer may submit to WuXi AppTec written work orders (“Work Orders”) for services (“Services”) to be performed by WuXi AppTec under this Agreement.  Upon mutual agreement and execution of a Work Order by both Parties, the terms and conditions of this Agreement shall be incorporated into such Work Order (regardless of whether such Work Order contains language effecting such incorporation).  For purposes of clarity, the terms of this Agreement shall be incorporated by reference into Work Order 4 and Work Order 5 between the Parties, both dated December 17, 2015.    

Milestones. A Work Order may contain a table defining one or more milestones.  For each milestone, the table should identify the milestone, due date, approval criteria (or deliverable) and an associated monetary value.  In the event that WuXi AppTec fails to meet the approval criteria or deliverable by the due date and such failure is not due to Customer Delay, WuXi AppTec shall refund [*] of the associated monetary value of the milestone to Customer.  For purposes of this Section, Customer Delay shall mean any of the following which result in WuXi AppTec’s failure to meet the deadline: (1) Customer’s failure to review documents within [*] of receipt of such documents (unless WuXi AppTec releases [*] for review within any given [*] period, in which case the parties shall mutually agree upon a date by which such review shall be completed); or (2) defects in material provided by [*] to [*].  WuXi AppTec shall provide Customer with prompt notice of any instance of Customer Delay, upon receipt of such notice Customer shall work diligently to cure the instance of Customer Delay.

Change Process. A Party seeking to change an executed Work Order must initiate the change by submitting a written change request to the other party describing the requested changes to the Work Order.  The party receiving the change request must provide a written impact report clearly identifying the portions of the work order impacted and must indicate how such portion will be impacted.  The Parties will then negotiate in good faith to arrive at written impact report mutually agreeable to the Parties.  Once a written impact report has been executed by both parties, the impact report will then amend the Work Order.  For Customer, the impact report must be signed by the President of the Company or the CFO if the change will result in (1) a cost increase in excess of [*]; (2) a delay in any milestone deadlines; or (3) delays the date of initiation of commercial manufacture.

		
	2)
	Product. “Product” covered under this Agreement means all or any part of the product manufactured (including any sample thereof), the particulars of which are listed in relevant Work Orders attached hereto. 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

		
	3)
	Special / Custom Equipment.  In the event special or custom equipment is required for the manufacture of Product, Customer shall provide WuXi AppTec with such equipment (the “Equipment”) to be used to manufacture the Product which Equipment is listed in the relevant Work Order attached hereto.  The Equipment shall remain Customer’s property at all times and WuXi AppTec shall use the Equipment solely to perform the Services for Customer under this Agreement and the relevant Work Order and for no other purpose.  WuXi AppTec shall maintain and keep the Equipment in proper working order and secure and safe from loss and damages.  WuXi AppTec shall be liable to Customer for loss and damage to the Equipment while in its possession (ordinary wear and tear excepted).  In the event that any item of Equipment reaches the end of such item’s useful life due to ordinary wear and tear from the performance of the Services hereunder, then upon request by WuXi AppTec, Customer shall at its option either repair or replace such item at its expense. 

		
	4)
	Procurement, Processing and Packaging.

		
	(a)
	  Customer shall provide WuXi AppTec with the [*] for WuXi AppTec to perform the Services and to manufacture the Product, and WuXi AppTec shall procure other starting materials, at [*] cost and as set forth in the relevant Work Order (together with the [*] provided by Customer, the “Starting Material”), for subsequent processing into Product in accordance with the Product Specifications (as defined below).  Customer shall supply to WuXi AppTec with relevant information and full details of any hazards relating to Starting Material, their storage and use.  Upon review of this information, the Starting Material and any Customer know-how, procedures and other relevant information necessary for WuXi AppTec to process Starting Material into Product shall be provided to (or procured by, as applicable) WuXi AppTec.  All Starting Material delivered to WuXi AppTec shall be shipped by a reputable shipping company selected by [*] at WuXi AppTec’s facility in Philadelphia, Pennsylvania or such other location as the parties may agree from time to time (“WuXi AppTec Plant”).  [*] shall bear all risk of loss prior to delivery at WuXi AppTec Plant. WuXi AppTec will inspect the Starting Material as soon as practical after receipt and promptly inform Customer of any damage or loss.  Customer shall retain title to the Starting Materials at all times, but risk to undamaged Starting Material shall pass from [*] after [*]. WuXi AppTec shall maintain and keep Starting Materials secure and safe from loss and damage, and shall be liable to Customer for the replacement of any Starting Materials lost or damaged while [*].  [*] shall pay all shipping or similar charges (including insurance and tax, if any) applicable to [*] delivery of Starting Material pursuant to this Section 4(a).

		
	(b)
	Customer hereby grants WuXi AppTec the non-exclusive right to use the Starting Material and any Confidential Information supplied by Customer for the sole purpose of performing the Services for Customer under the Agreement and the relevant Work Order.  WuXi AppTec hereby undertakes not to use the Starting Material or any Confidential Information of Customer for any other purpose.

		
	(c)
	WuXi AppTec may in its sole discretion amend or modify its SOP manual and or individual policies and procedures, except that WuXi AppTec shall not make any such changes that affect the specifications for the Services and Product outlined by Customer under this Agreement or set forth in the applicable Work Order without Customer’s express prior written consent, unless the changes are required by state / federal regulations, in which case WuXi AppTec shall promptly notify Customer of any such required change. 

		
	(d)
	 Customer agrees that its contracts and certification relating to the logistical screening and isolation of Starting Materials shall be in compliance with the current rules, regulations, standards, and interpretations of the Food and Drug Administration (the “FDA”) and agrees to use its best efforts to comply with any future changes in the rules, regulations, standards and interpretations of the  FDA as appropriate.

		
	(e)
	WuXi AppTec shall: (i) perform the Services, including processing Starting Material provided by Customer into the Product, in accordance with all applicable laws and regulations (including without limitation cGMP), the terms of this Agreement and the applicable Work Order, including the Product specifications set forth in Work Orders or as agreed to in writing by the Parties and attached hereto under a separate Exhibit (the “Product Specifications”), which Product Specifications may be amended or modified by mutual written agreement of the Parties; (ii) package and label the Product in accordance with Section 7 below; and (iii) deliver the Product to Customer or such other location designated by Customer in accordance with Section 7 below. WuXi AppTec will process Starting Material into the Product in a timely manner as agreed upon by 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

the Parties.  

		
	(f)
	WuXi AppTec represents and warrants that (i) the Services will be performed in compliance with the terms and conditions of this Agreement, the applicable Work Order and all applicable laws and regulations (including without limitation cGMP); (ii) the Product delivered will comply with the Product Specifications; (iii) the Services performed by WuXi AppTec hereunder will not infringe or misappropriate any intellectual property rights of any third party.  In the event that any Service or Product provided by WuXi AppTec fails to comply with any of the foregoing warranties, WuXi AppTec shall, at Customer’s election, promptly [*], or promptly [*].  Notwithstanding the foregoing, the parties acknowledge and agree that because of the [*] of the [*], there is no guarantee that a [*] and therefore WuXi AppTec shall not be responsible for [*], provided that (a) the [*] and (b) the Services and Products provided by WuXi AppTec otherwise comply with the foregoing warranties.  

  
		
	(g)
	EXCEPT AS EXPRESSLY SET FORTH HEREIN, WUXI APPTEC MAKES NO PRODUCT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.  THE SOLE AND EXCLUSIVE REMEDIES OF CUSTOMER FOR BREACH OF A PRODUCT WARRANTY SHALL BE [*].

		
	(h)
	WuXi AppTec shall not be liable for any claim of Product non-conformance or breach of warranty unless such claim us submitted in writing by Customer within [*] following the date of Services were completed or the date of the breach giving rise to such claim, whichever is later.

5)    Delivery/Shipping. 

		
	(a)
	Product shall be delivered [*], which means (a) when WuXi AppTec [*] at [*] and (b) risk and title to Product pass to Customer upon [*].  Transportation of Product, whether or not under any arrangements made by [*] on behalf of [*], shall be made at the sole risk and expense of [*].

		
	(b)
	Unless otherwise agreed or set forth in the applicable Work Order, WuXi AppTec shall package and label Product for delivery in accordance with its standard operating procedures and in accordance with required shipping conditions.  It shall be the responsibility of Customer to inform WuXi AppTec in writing in advance of any special packaging and labeling requirements for Product.  All [*] costs and expenses of whatever nature incurred by WuXi AppTec in complying with such special requirements [*] shall be [*] the price for Services.

		
	(c)
	If [*], WuXi AppTec will [*] arrange the transportation of Product from WuXi AppTec Plant to the destination indicated by Customer together with insurance coverage for Product in transit at its invoiced value.  All [*] costs and expenses of whatever nature incurred by WuXi AppTec, Inc. in arranging such transportation and insurance [*] shall be [*] the price for Services.

		
	(d)
	Where WuXi AppTec has made arrangements for the transportation of Product, Customer shall diligently examine the Product as soon as practicable after receipt.  Notice of all claims (time being of the essence) arising out of: (1) Visible damage to or total or partial loss of Product in transit shall be given in writing to WuXi AppTec and the carrier within [*] of receipt by Customer; or (2) Non-delivery shall be given in writing to WuXi AppTec within [*] after the receipt by Customer of WuXi AppTec’s dispatch notice.

		
	(e)
	Customer shall make damaged Product and associated packaging materials available for inspection and shall comply with the reasonable requirements of any insurance policy covering the Product, for which notification has been given by WuXi AppTec to Customer.  [*] shall offer [*] all reasonable assistance in pursuing any claims arising out of the transportation of Product.  

		
	(f)
	Promptly following receipt of Product or any sample thereof, Customer may carry out any of the tests outlined or referred to in the Specifications.  If such tests show that the Product fails to meet Specification, Customer shall have the right to reject such Product by giving WuXi AppTec written notice thereof within [*] from [*]. In addition, except where the shelf life of the Product has expired, Customer shall have the right to 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

reject the Product if Customer later discovers non-obvious defect not reasonably susceptible to discovery within the [*] notice period and provides notice thereof to WuXi AppTec within [*] after [*]. Customer shall return such non-conforming Product to WuXi AppTec’s premises, at [*] expense, for further testing.  If data from such further testing is inconclusive as to whether the Product returned fails to meet the Specification (for example, when compared to Product retains) or whether such failure is due to acts or omissions of Customer or any third party after delivery, the Parties may submit the Product in question and any retains to a mutually agreed independent laboratory for testing.  The decision of such independent laboratory shall be final and binding upon the Parties, and the Party against whom such independent laboratory rules shall bear the cost of such testing.  If the Product returned to WuXi AppTec fails to meet Specification and such failure is not due to the acts or omission of [*] or [*], or is due to any act or omission of [*] then WuXi AppTec shall refund that part of the price that relates to the production of such Product.  
 
6)    Consideration.

		
	(a)
	Customer shall pay the price in accordance with the price detailed in Work Orders attached hereto for Services that are performed in compliance with the Specifications or other agreed-upon terms.

		
	(b)
	Payment shall be made in accordance with Work Orders attached hereto.  Unless otherwise indicated in writing by WuXi AppTec, all prices and charges are [*] of any applicable taxes, levies, duties and fees of whatever nature imposed by or under the authority of any government or public authority, which shall be paid by [*] (other than [*]).   Undisputed payment must be made within [*] of receipt by Customer of a correct invoice.  Payment shall be made without deduction, deferment, set-off, lien or counterclaim of any nature.

		
	(c)
	In the event of a default of payment on due date: (1) Interest shall accrue on any amount overdue at the annual rate of [*] above the prime rate of interest published from time to time in the Wall Street Journal (or similar successor rate), interest to accrue on a day to day basis both before and after judgment; and (2) WuXi AppTec shall, at its sole discretion, and without prejudice to any other of its accrued rights, be entitled to terminate this Agreement under Section 11(a)(ii).

7)Quality Assurance.

WuXi AppTec shall permit Customer and its representatives to inspect its facilities and review its staff for the purpose of quality assurance.  Any such inspections shall be performed upon reasonable notice during normal business hours; shall identify the staff that will perform such inspection; maintain as confidential any information or observation made as part of such inspection; shall conduct themselves in an appropriate manner and will not unnecessarily interfere with operations and, as applicable, provide a written report to WuXi AppTec of the inspection.  WuXi AppTec will provide Customer with copies of applicable documentation related to production records, audit reports and FDA inspection reports.  WuXi AppTec shall promptly notify Customer of any inspection of the WuXi AppTec Plant by any regulatory agency that relates to the Services or Product.  Unless prohibited by applicable law, Customer shall have the right to be present at any such inspection, and WuXi AppTec shall provide Customer with copies of all correspondence with such regulatory agency relating thereto.  WuXi AppTec shall take all reasonable actions requested by Customer or the regulatory agency to cure any deficiencies noted during such inspection.  

8)Regulatory Matters.

		
	(a)
	Customer shall, at its expense, obtain and maintain all permits, licenses, clearances and approvals from the FDA and other regulatory agencies as are necessary or appropriate for the distribution of the Products. 

		
	(b)
	Each Party will notify the other Party promptly upon receipt of information indicating that any of the Products may be subject to a recall, field corrective action or other regulatory action with respect to a Product taken either by virtue of applicable federal, state, foreign or other law or regulation or good business judgment (a “Remedial Action”).  Customer shall be responsible for determining the necessity of conducting any Remedial Action and WuXi AppTec shall cooperate in gathering and evaluating such information as is reasonably necessary for Customer to make such determination. In the event Customer determines that a Remedial Action should be commenced or a Remedial Action is required by any governmental authority 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

having jurisdiction over the matter, Customer shall be responsible for the control and coordination of all efforts necessary to conduct such Remedial Action and shall keep WuXi AppTec reasonably informed regarding the status of such Remedial Action. [*] shall be responsible for the cost and expense of the Remedial Action unless the Remedial Action results from [*], in which case [*] shall be responsible and shall reimburse [*] for the cost and expense of such Remedial Action.  

		
	(c)
	Each Party will comply with the applicable provisions of the Adverse Reaction Reporting systems, including the requirements of 21 CFR Part 1270, and each Party will cooperate with the other Party for the efficient compliance therewith. WuXi AppTec agrees to notify Customer promptly upon receipt from any customer of any complaint or Adverse Reaction Report relating to the Products.    Customer shall investigate and WuXi AppTec shall reasonably cooperate in any investigation of such complaint or Adverse Reaction Report and Customer will keep WuXi AppTec reasonably informed regarding the findings from such investigation.

9)    Insurance and Indemnification.  

		
	(a)
	Customer shall indemnify and hold harmless WuXi AppTec, its officers, directors, agents and employees from and against any and all losses, costs, damages and/or expenses (including, without limitation, reasonable costs of counsel), incurred by any such indemnitee as a result of or in connection with any claim by any third party 1) for injury (physical, emotional, psychological or other) or death of any person or physical damage to any property arising out of Customer’s (or its affiliates’ or licensees’s) testing, development, manufacture, sale or other use or distribution of any material or product (including the Product) which is the result of Services performed by WuXi AppTec under the Agreement, provided such claim, injury, death or property damage is not the result of WuXi AppTec's negligence or reckless or willful misconduct or breach of this Agreement in carrying out its obligations under this Agreement or any Work Order, or 2) alleging WuXi AppTec’s use of Customer’s Starting Materials, or Customer intellectual property rights that are supplied to Wuxi AppTec by Customer, in accordance with the applicable Work Order and Customer’s instructions, infringes any rights (including, without limitation, any intellectual or industrial property rights) vested in any third party (whether or not the Customer knows or ought to have known about the same).  In the event a third party claim is asserted against WuXi AppTec for which indemnification is required hereunder, WuXi AppTec shall give Customer prompt written notice thereof.  WuXi AppTec shall cooperate with Customer, at Customer’s cost and expense, in the defense of any such claim. Customer shall have the sole right to defend and/or settle such a claim, including selecting counsel of its choice.  Costs, expenses and fees incurred by WuXi AppTec and as to which WuXi AppTec has a right of indemnification hereunder shall be periodically reimbursed by Customer as incurred. 

		
	(b)
	WuXi AppTec shall indemnify and hold Customer harmless against all claims, actions, costs, expenses (including court costs and reasonable attorney’s fees) or other liabilities (collectively, “Losses”) whatsoever to, from or in favor of third parties, to the extent such Losses are caused or contributed by 1) WuXi AppTec’s performance of the Services (except to the extent resulting from WuXi AppTec’s use of any intellectual property rights or materials supplied by Customer in accordance with Customer’s specific instruction); 2) the negligence, reckless or willful misconduct or breach of this Agreement of  WuXi AppTec or any of its employees or agents in the performance of Services.  WuXi AppTec’s liability to indemnify Customer shall be reduced to the extent that such Losses were caused or contributed to by the act, direction, negligence, reckless or willful misconduct or breach of this Agreement by Customer.  In the event a third party claim is asserted against Customer for which indemnification is required hereunder, Customer shall give WuXi AppTec prompt written notice thereof.  Customer shall cooperate with WuXi AppTec, at WuXi AppTec’s cost and expense, in the defense of any such claim. WuXi AppTec shall have the sole right to defend and/or settle such a claim, including selecting counsel of its choice.  Costs, expenses and fees incurred by Customer and as to which Customer has a right of indemnification hereunder shall be periodically reimbursed by WuXi AppTec as incurred.

		
	(c)
	Both Parties shall maintain a separate policy or policies of insurance in the amount of at least $1 million per occurrence and $3 million in the aggregate for insuring against liability which may be imposed arising out of its acts or omissions to include:  1) comprehensive general liability providing coverage for personal injury, bodily injury, property damage; and 2) professional liability. In addition, Customer shall maintain Product Liability insurance in the aggregate of at least $5 million. As soon as practicable following the execution of 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

this Agreement, each Party shall cause its insurer(s) to list the other Party as an additional insured on the insurance policies required hereby and shall deliver to the other Party a certificate(s) of insurance Party evidencing the applicable coverage(s). 

		
	(d)
	WuXi AppTec’s sole liability for any loss or damage suffered by Customer as a result of any breach of the Agreement or of any other liability of WuXi AppTec in respect of the Services conducted under this Agreement or any Work Order (including without limitation the production and/or supply of the Product) shall be limited to the payment by WuXi AppTec in an amount not exceed the Price of the non-conforming Services under which such liability arises.  This limitation shall not apply in the event such damages were caused by the gross negligence or willful misconduct of WuXi AppTec, WuXi AppTec’s breach of its confidentiality obligations set forth in Section 10 or its indemnification obligations set forth in this Section 9.

		
	(e)
	Except for losses or damages arising from breach of confidentiality obligations or from a Party’s gross negligence or willful misconduct neither Party shall be liable hereunder for any special, indirect, incidental, consequential or punitive damages, even if such Party shall have been advised of the possibility of such potential damages.  .  

		
	(f)
	The Parties hereto acknowledge that the limitations of liabilities set forth in this Section 9 reflect the allocation of risk set forth in this agreement and that the Parties would not enter into this agreement without these limitations of liability.

10)    Confidentiality

		
	(a)
	While this Agreement is in effect, and for a period of [*] years after the termination of the Agreement, neither Parties, their affiliates, or any directors, shareholders, officers, employees or agents of the foregoing (collectively, the “Affiliates”) shall use or divulge to anyone any Confidential Information of the other Party (as hereinafter defined), except:  (i) as required in the course of performing the obligations hereunder, (ii) to attorneys, accountants and other advisors, (iii) with the express written consent of the Parties or (iv) as required by law (provided that such Party shall promptly notify the other Party of such required disclosure and shall reasonably assist such other Party to obtain a protective order limiting or restricting the required disclosure).  In addition, Customer shall have the right to disclose and use WuXi AppTec’s Confidential Information to the extent necessary or useful for its development, commercialization or other exploitation of the Product or other results or deliverables of the Services.  The term “Confidential Information” of a Party shall mean any information relating to such Party or its business which is,  (1) disclosed to the other (or to the other's Affiliates) during the negotiation of and performance of this Agreement and (2) is marked “Confidential” if provided in writing, or if delivered verbally, is reduced to writing within [*] and marked “Confidential.”  In addition, all Data and Inventions (as defined below) shall be deemed Customer’s Confidential Information.  “Confidential Information” shall not include any information which (i) becomes public knowledge without breach by the other of this Agreement; (ii) is obtained by the other (or the other's Affiliates) from a person or business entity under circumstances permitting its disclosure to others; (iii) may be demonstrated to have been known at the time of receipt thereof as evidenced by tangible records.  If a party makes a disclosure of Confidential Information, which is permitted by the terms of this Agreement, such party shall be responsible for ensuring that the person to whom it is disclosed maintains the confidentiality of such Confidential Information in accordance with the terms of this Agreement.

11)    Termination.  

		
	(a)
	Term. This Agreement shall become effective as of the Effective Date and will expire on the later of (i) six (6) years from the Effective Date or (ii) the completion of all Services under the last Work Order executed by the parties prior to the sixth anniversary of the Effective Date. The Agreement may be extended by mutual agreement of the parties or earlier terminated in accordance with Section 11.

		
	(b)
	Customer has the right to terminate this Agreement or any Work order for any reason or no reason by delivery of written notice of such termination to WuXi AppTec effective [*] following delivery of such notice.  In addition, each Party has the right to terminate this Agreement by delivery of written notice of such termination to the other Party effective immediately upon the receipt of such notice, upon the occurrence of 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

any of the following events:

(i) In the event that the other Party shall be adjudicated bankrupt or shall petition for or consent to any relief under any bankruptcy, reorganization, receivership, liquidation, compromise, or any moratorium statute, whether now or hereafter in effect, or shall make an assignment for the benefit of its creditors, or shall petition for the appointment of a receiver, liquidator, trustee or custodian is appointed for all or a substantial part of its assets and is not discharged within [*] after the date of such appointment;

(ii) Upon the failure of the other Party to remit an undisputed and past due payment required to be remitted under this Agreement within [*] following the receipt of a written notice of such past due payment;

(iii) Upon any default in the performance of or breach of any agreement, covenant, obligation or undertaking of the other Party made hereunder (other than a default in payment dealt with under subsection (ii) above) that has not be remedied to the reasonable satisfaction of the terminating Party within [*] following the terminating Party’s delivery of written notice of such default or breach to the other Party; or

(iv) Upon a failure or delay of fulfillment of all or part of this Agreement that continues for a period of [*] and results from a “force majeure” event set forth in Section 17 below.

		
	(c) 
	Upon any termination or expiration of this Agreement, WuXi AppTec shall promptly return to Customer all Equipment, remaining Starting Material, all Product and other deliverables (in whatever stage of development) and all Confidential Information of Customer.  

		
	12)
	Independent Contractor.  Both Parties are independent contractors and nothing in this Agreement creates the relationship of partnership, joint venture, sales agency or principal and agent, and neither party is the agent of the other, and neither party may hold itself out as such to any other party, and neither party has the power or authority in any way to bind the other party contractually.  Each Party shall be free to manage and control its business as it sees fit without the management, control or assistance of the other Party, except as otherwise prescribed herein.

		
	13)
	Governing Law.  This Agreement shall be governed by and construed in accordance with the laws in the State of New York, without regard to its choice of law provisions.

		
	14)
	Entire Agreement.  This Agreement and attachments contain the entire understanding of the Parties with respect to the matters contained herein and supersedes the Development and Manufacturing Terms and Conditions dated May 30, 2014 (Effective Date) between the Parties.  In case one or more amendments, modifications or alterations of this Agreement become necessary, the Parties shall negotiate in good faith on such amendments, modifications or alterations.  This Agreement may be amended, modified or altered only by an instrument in writing duly executed by both Parties.

		
	15)
	Force Majeure.  The Parties hereto shall not be liable in any manner for the failure or delay of fulfillment of all or part of this Agreement, directly or indirectly, owing to governmental orders or restrictions, war, war-like conditions, revolution, riot, looting, strike, lockout, fire, flood or other external causes or circumstances beyond the Parties’ control. Neither WuXi AppTec nor Customer shall be liable for any default, damages (including without limitation any direct, indirect, foreseeable, unforeseeable, consequential or punitive) or delays in shipment for any cause beyond its reasonable control.

		
	16)
	Severability.  If any one or more of the provisions of this Agreement shall for any reason be held to be illegal or unenforceable, such invalidity or unenforceability shall not affect any other provision of this Agreement or the validity or enforceability of such provision.  The unenforceable provision shall be treated as severable and the remaining provisions shall nevertheless continue in full force and effect, giving maximum effect to the intent of the Parties in entering this Agreement.

		
	17)
	Survivability.  This Agreement shall be binding upon and enure to the benefit of the Parties hereto and their respective legal successors.  The following provisions shall survive any termination or expiration of this Agreement: Sections 9, 10, 11(b), 12 through 24. 

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

		
	18)
	Arbitration

		
	(a)
	In the event of any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, each party shall by written notice to the other have the right to have such dispute referred to the senior management of WuXi AppTec and Customer for attempted resolution by good faith negotiations within [*] after such notice is received.  If such senior management is unable to resolve such dispute within such [*] period, either party may invoke the provisions of Section 18 (b).  Any settlement reached by the parties under this Section shall not be binding until reduced to writing and signed by the above-specified management of WuXi AppTec and Customer.  When reduced to writing, such agreement shall supersede all other agreements, written or oral, to the extent such agreements specifically pertain to the matters so settled.  

		
	(b)
	In the event of the failure to reach a resolution pursuant to Section 18 (a), any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, shall be finally settled by binding arbitration.  If WuXi AppTec initiates arbitration, the site of arbitration shall be [*].  If Customer initiates arbitration, the site of arbitration shall be [*].  All disputes shall be settled by three (3) arbitrators.  Each Party shall choose one arbitrator from a panel of arbitrators who are residents of the United States, in accordance with the Commercial Arbitration Rules then in effect of the American Arbitration Association (the “AAA Rules”), and the two arbitrators so chosen shall choose a third arbitrator.  Any such arbitration shall be conducted in the English language, shall be conducted pursuant to AAA Rules.  Any arbitration award shall be final and binding and no appeal shall lie therefrom.  Judgment upon the award may be entered in any court of competent jurisdiction.  Other than as provided in Section 18(c) below, except for each party's own attorneys' fees and any expenses incurred in producing its own witnesses, all other administrative expenses shall be divided as directed by the arbitrators.

		
	(c)
	If either party, notwithstanding the foregoing, should attempt either to resolve any dispute arising in connection with this Agreement in a court of law or equity or to forestall, preempt, or prevent arbitration of any such dispute by resort to the process of a court of law or equity, and such dispute is ultimately determined to be arbitral by such court of law or equity, the arbitrators shall include in their award an amount for the other party equal to all of that other party's costs, including legal fees, incurred in connection with such determination.  Nothing in this Section 18 shall prevent a party from seeking a remedy in a court of equity if money damages are not an adequate remedy, (such as enforcement of the confidentiality provisions of this Agreement) or in order to preserve the status quo pending an arbitration award.

		
	19)
	Inventions and Technology Transfer.  

(i) All data, information and intellectual property generated or derived by WuXi AppTec as a direct result of the Services performed by WuXi AppTec under this Agreement (collectively, the “Data and Inventions”) shall belong solely to Customer.  WuXi AppTec hereby assigns to Customer all right, title and interest in and to the Data and Inventions.  WuXi AppTec shall promptly disclose all Data and Inventions to Customer and shall reasonably assist Customer to perfect its ownership in the Data and Inventions and to apply for, secure and maintain patent and other proprietary protection of the Data and Inventions.  Notwithstanding the foregoing, Customer acknowledges that WuXi AppTec possesses certain inventions, processes, know-how, trade secrets, other intellectual property and assets, including but not limited to, production methods, test methods, computer technical expertise and software which have been independently developed by WuXi AppTec (collectively, the “WuXi AppTec Property”).  Customer and WuXi AppTec agree that any WuXi AppTec Property or improvements thereto which are used, improved, modified or developed by WuXi AppTec under or during the term of this Agreement, are the product of WuXi AppTec’s technical expertise possessed and developed by WuXi AppTec prior to or during the performance of this Agreement and are the sole and exclusive property of WuXi AppTec, except that WuXi AppTec hereby grants to Customer a world-wide, non-exclusive, royalty free, perpetual and irrevocable license (with the right to sublicense) to use such WuXi AppTec Property and improvements, modifications or developments made while performing the Services, solely to the extent such WuXi AppTec Technology or improvements, modifications or developments are [*] and/or the use of which is [*] for Customer’s full lawful use of the deliverables provided by WuXi AppTec hereunder (including the development, manufacture, commercialization or other exploitation of the Product).

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

(ii) After expiration or termination of this Agreement or in the event that WuXi AppTec files a petition of any type as to its bankruptcy, is declared bankrupt, becomes insolvent, makes an assignment for the benefit of creditors, goes into liquidation or receivership, loses legal control of its business, ceases to carry on its business as a contract manufacturing organization, or [*] Customer’s manufacturing needs, then at Customer’s written request, WuXi AppTec will transfer to Customer (or Customer’s designee, including its other contract manufacturers) all developments related to Product and other WuXi AppTec know-how used in or necessary for the production or Product.  In connection with such technology transfer and upon reasonable notice, WuXi AppTec will permit reasonable access to the WuXi AppTec Plant during normal business hours to employees of Customer to learn about the relevant developments and know-how used to produce Product.  Prior to any such technology transfer, such employees will each enter into a customary confidentiality agreement, which will be commercially reasonable and will permit such employees to disclose information learned to Customer or its designee and will restrict use of such WuXi AppTec know-how to use solely in connection with the manufacture Product (or any derivative thereof).  Customer shall compensate WuXi AppTec [*] for providing such technical assistance.  For clarity, in the event that Customer requests such technology transfer to a third party contract manufacturer, access to WuXi AppTech Plant shall be provided to employees of Customer only, and such Customer employees shall have the right to disclose (subject to a customary confidentiality agreement as set forth above) WuXi AppTech know-how to such third party to facilitate the technology transfer to such third party.  WuXi AppTec is obligated to transfer documents, information, or know-how, including standard operating procedures, only to the extent that any of the foregoing is either WuXi AppTec Property that is licensed to Customer pursuant to Subsection 19(i) or is reasonably necessary for the production of Product.

		
	20)
	Waiver.  No waiver of any term, provision or condition of this Agreement (whether by conduct or otherwise) in any one or more instances will be deemed to be or construed as a further or continuing waiver of any such term, provision or condition of this Agreement

		
	21)
	Notices.  Any notice or report required or permitted to be given or made under this Agreement by one of the Parties hereto the other shall be in writing and shall be deemed to have been sufficiently given for all purposes, and effective as of the date of receipt, if mailed by certified mail return receipt requested, postage prepaid, addressed to such other party at its respective address as follows:

If to WuXi AppTec, Inc.:            WuXi AppTec, Inc.
4751 League Island Blvd.
Philadelphia, PA 19112
Attn: Business Development
    
If to :    Customer:            NewLink Genetics Corporation            
2503 South Loop Drive, Suite 5100 
Ames, IA 50010
                    
                    
		
	22)
	Press Releases.  Except as necessary to comply with applicable laws, the text of any press release or other communication to be published by or in the media concerning the subject matter of the Agreement shall require the prior written approval of WuXi AppTec and Customer. 

		
	23)
	Assignment.  Neither party shall be entitled to assign, transfer, charge or in any way make over the benefit and/or the burden of this Agreement without the prior written consent of the other which consent shall not be unreasonably withheld or delayed, save that either party shall be entitled without the prior written consent of the other party to assign or transfer this Agreement to its Affiliate or its successor-in-interest to all or substantially all of its assets to which this Agreement relates, whether in connection with a merger, acquisition, sale of asset or other similar transaction.    WuXi AppTech may not subcontract or delegate any of its obligations hereunder to a third party without Customer’s express prior written consent.  

		
	24)
	No Third Party Beneficiaries.  The parties to this Agreement do not intend that any terms hereof should be enforceable by any person who is not a party to this Agreement.  

Exhibit 10.68
[*]  Certain confidential information contained in this document, marked by brackets, has been omitted and filed
 separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.
WuXi AppTec, Inc.                NewLink Genetics Corporation
By: /s/ Scott Kramer                By: /s/ Nicholas N. Vahanian        
Name : Scott Kramer                Name: Nicholas N. Vahanian        
Title: VP - Finance                Title: President                
Date: December 30, 2015            Date: January 4, 2016

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