Document:

Manufacturing and Supply Agreement

 Exhibit 10.3 
 Manufacturing and Supply Agreement 
 Between 

CORCEPT THERAPEUTICS INCORPORATED 
 149
Commonwealth Drive 
 Menlo Park, CA 94025 
 USA 
  

	 	•	 	 Here in after referred to as “CORCEPT” 

 and 
 Produits Chimiques Auxiliaires et de Synthése SA 

23 rue Bossuet 
 91161 Longjumeau Cedex

 France 
  

	•	 	 Here in after referred to as “PCAS” 

  

	•	 	 Here in after collectively referred to as “PARTY/PARTIES” 

 Whereas 
  

	I.	CORCEPT has certain patents and know-how with respect to the Product Mifepristone. 

 

	II.	PCAS has the right to produce Mifepristone and has the right to manufacture the Product for CORCEPT for development and commercial use in neuropsychiatric indications.

  

	III.	PCAS has know-how and currently manufactures the product Mifepristone and wishes to manufacture the Product for CORCEPT and CORCEPT wishes PCAS to continue to produce
and manufacture the Product and wishes to purchase the Product from PCAS subject to the terms and conditions set forth in this Agreement and in accordance with the Quality Agreement entered into between the PARTIES. It is the intention of the
PARTIES that this Agreement is read in conjunction with the Quality Agreement. 

  

Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as [***]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 

  
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 Manufacturing and Supply Agreement 

 

 NOW THEREFORE IT IS HEREBY AGREED AS FOLLOWS: 

 

	 	1.	Definitions 

  

			
	Finished Products	  	IV. shall mean the finished form of pharmaceutical preparations containing the Product for human use in neuropsychiatric indications.
		
	Know-How	  	shall mean all technical information known to or developed by PARTY/PARTIES
		
	Product	  	shall mean the GMP material of Mifepristone, designated. by the chemical formula 11 ß-[p (dimethylamino)phenyl] 17ß- hydroxy-17a-(1-propynyl)estra-4,9-dien-3-one being
produced in the form of a powder in bulk destined for Finished Products.
		
	Specifications	  	shall mean the Specifications of the Product set by CORCEPT and defined in APPENDIX I hereto.
		
	Affiliates	  	shall mean a corporation or other entity or person that directly or indirectly controls, is controlled by, or is under common control of a PARTY. For purpose of this definition,
control shall mean direct or indirect possession of more than 50% of the capital shares of such corporation and effective control of more than 50% of the voting stock thereof.

  
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 Manufacturing and Supply Agreement 

 

	 	2.	Subject 

  

	 	2.1	PCAS agrees to file a Drug Master File (“DMF”) type II with the US FDA as required to support CORCEPT’s NDA filing and will authorize the US FDA to
reference the DMF in connection with CORCEPT’s NDA. 

  

	 	2.2	PCAS agrees to manufacture at FDA registered facilities and to deliver to CORCEPT the Product as specified in APPENDIX I and according to cGMP as specified in the
current US guidelines and regulations (eg, US CFR 21 and ICH Q7A) and the Guide to GMP for Medicinal Products promulgated under European Directive 91/356/EEC, all as in effect from time to time hereafter. PCAS will supply Product for CORCEPT
Finished Product from the facility(ies) for which Corcept has received regulatory approval. 

  

	 	2.3	CORCEPT agrees to take delivery of the Product on the terms and conditions set forth in this Agreement. 

 

	 	3.	Supply, Forecast, Orders 

3.1 CORCEPT will, before the [ *** ] and every [ *** ] thereafter, advise PCAS of its estimated requirements for the ensuing [ *** ] on a
[ *** ]. 
 3.2. CORCEPT will place firm and irrevocable orders, from time to time, at least 

[ *** ] before the required delivery. 
 3.3 PCAS shall supply CORCEPT, at the required delivery dates, with the amounts of Product firmly ordered, up to [ *** ] of the estimated requirements of Product forecasted by CORCEPT pursuant to
Section 3.1 above. To the extent CORCEPT’s firm orders exceed [ *** ] of the estimated requirements forecasted by CORCEP pursuant to Section 3.1 above, PCAS shall use its best endeavors and make all reasonable effort to fulfil such
excess requirements. 
  

	 	3.4	PCAS shall confirm the firm orders within ten (10) days after receipt. 

 

	 	3.5	In case of reduction of quantity to deliver and/or delay of delivery date due to a Force Majeure as specified in Section 11, PCAS shall state the reasons which led
to the reduction of quantity or delay of supply past the given delivery date. The Parties will reasonably cooperate to find a solution, which conforms to the requirements of CORCEPT and the capability of PCAS to ensure the supply of Product to
CORCEPT. 

  

[***] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

  
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 Manufacturing and Supply Agreement 

 

	 	4.	Price/Quantities 

 4.1 The
price payable by CORCEPT to PCAS for the Product supplied hereunder shall be the price listed in APPENDIX II. 
 4.2. In case
changes to the Specifications and quality requirements requested by CORCEPT have an impact on manufacturing costs, a price adjustment will be agreed mutually. 

4.3 The price for Product will be adjusted annually starting in 2008 based on the US Government reported Producer
Price Index - “Pharmaceutical preparation mfg - pcu325412325412”, with the base year being 2007 and the price adjustment will take effect for deliveries from July 1 to June 30th 
 4.4 Corcept agrees to purchase 100% of their requirements from PAS through 6 months after NDA approval, 75% of their requirements from 6 months through 18 months after NDA approval and [ *** ] of their
requirements beyond [ *** ] after NDA approval for the initial 5 year term of this Agreement and as long as PCAS has the capacity to supply the required amounts during such time. The foregoing obligation of CORCEPT excludes purchases of mifepristone
by CORCEPT from an alternate supplier for purposes of development, analytical testing, manufacturing and regulatory activities required for CORCEPT to gain regulatory approval of that alternate supplier. 

 

	 	5.	Terms of Payment 

 5.1
Payments for Product in accordance with the terms of this Agreement will be made in U.S. dollars. 
 5.2. Payment is due thirty
(30) days after receipt of delivery and invoice. 
  

	 	6.	Terms of Delivery 

 Title
of all Product shall pass to CORCEPT at PCAS manufacturing plant. PCAS shall deliver according to incoterms 2000 CIP to the USA via Airfreight. CORCEPT shall indicate the place of destination in the purchase order. 

 

	 	7.	Specification, Quality Control, Warranty 

 7.1 Upon receipt of Product, CORCEPT will have a period of sixty (60) days in which to notify PAS of its rejection of a delivered Product due to failure in whole or in part to conform to the
Specifications; provided that in the case of latent defects written notice must be given to PCAS within sixty (60) days after discovery 

 
 [***] Certain information on this page
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 Manufacturing and Supply Agreement 

 

 
thereof. In the event CORCEPT has not lodged a notice of rejection of the Product within such sixty (60) day period, as applicable, then CORCEPT shall be deemed to have accepted that
quantity of the Product as conforming to the Specifications. Subject to CORCEPT’s right to reject Product due to latent defects, it will not further process Product until it has been accepted. 

7.2 In the event a shipment of Product is rejected by CORCEPT, in whole or in part, PCAS shall promptly conduct appropriate tests as set
forth in the Specifications to confirm CORCEPT’s test results PCAS shall not be responsible for any failure of the Product to satisfy the Specifications shown by the test results arising from inappropriate storage conditions of the Product at
CORCEPT’s facilities or the facilities of any third party to whom CORCEPT has directed PCAS to deliver the Product or unduly prolonged customs clearance by CORCEPT, or any other cause excused under Article 11 of this Agreement. 

7.3 If PCAS testing does not confirm that CORCEPT’s rejection is justified, it shall immediately notify CORCEPT in writing, and
technical representatives of CORCEPT and PCAS, respectively, shall meet to attempt to resolve the issues of disagreement. If the PARTIES cannot resolve the issue, they hereby agree to submit a sample each - one sealed by CORCEPT, one sealed by PCAS
for this purpose, before shipping such samples of the Product under dispute to an independent laboratory to be mutually agreed upon. Such independent laboratory shall perform an analysis using the Specifications. The analytical result of the
independent laboratory will be final and binding on the Parties. Costs connected with such test by the independent laboratory will be borne by the PARTY whose opinion was found to be in error. 

 

	 	8.	Indemnification 

 8.1 PCAS
agrees to indemnify, hold harmless CORCEPT, its agents, directors, officers and employees, from, and defend against, any direct damages from third party claims (a) arising from material breach or gross negligence of PCAS in the performance of
this Agreement or (b) from any material failure of the Product to meet the Specifications, in the case of (a) or (b) whether such claims concern personal injury, sickness, disease or death or otherwise. In the event of any such claim
against CORCEPT or any agent, director, officer or employee by any third party, CORCEPT shall promptly notify PCAS in writing of the claim so that PCAS may at its option and expense, be represented in any such action or proceeding. PCAS shall bear
all costs and expenses (including legal fees) arising in connection with any matter for which CORCEPT or its agents, directors, officers or employees, may be entitled to indemnification under this Section 8.1 and shall pay such costs and
expenses on a current basis. 

  
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 8.2 CORCEPT undertakes to indemnify and hold PCAS its agents, directors, officers and
employees harmless from, and defend against, any and all direct damages from third party claims (a) arising from material omissions or gross negligence of CORCEPT in the performance of this Agreement or (b) based upon or related to the
manufacture, packaging, use, sale and distribution of the Finished Products containing the Product by CORCEPT, ifs Affiliates or distributors, in the case of either (a) or (b) whether such claims concern personal injury, sickness, disease
or death or otherwise. PCAS shall promptly notify CORCEPT in writing of the claim so that CORCEPT may at its option be represented in any such action or proceeding. CORCEPT shall bear all costs and expenses (including legal fees) arising in
connection therewith with any matter for which PCAS or its agents directors, officers or employees, may be entitled to indemnification under this Section 8.2 and shall pay such costs and expenses on a current basis. 

8.3 EXCEPT AS MAY BE SPECIFICALLY PROVIDED ELSEWHERE IN THIS AGREEMENT TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR
INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, BUSINESS OR REVENUES OF ANY PERSON, HOWEVER CAUSED OR BASED ON ANY THEORY OF LIABILITY ARISING OUT OF THE INDEMNITY PROVIDED IN SECTION 8.1 OR 8.2 REGARDLESS OF
THE NOTICE OF THE POSSIBILITY OR THE FORESEEABILITY OF SUCH DAMAGES. EXCEPT AS SPECIFICALLY PROVIDED TO THE CONTRARY, EACH PARTY SHALL HAVE ALL REMEDIES TO WHICH THEY MAY BE ENTITLED UNDER THIS AGREEMENT, AT LAW OR IN EQUITY. 

8.4 Each PARTY agrees, at its sole expense, to defend or settle any actions brought against the other PARTY by any person alleging that
the manufacture of the Product infringes one or more patent or other rights or constitutes an unauthorized use or misappropriation of its technology to the extent that such infringement or misappropriation would constitute a breach of that
PARTY’s representations made in Section 19. In such event, each PARTY agrees to pay all damages and costs awarded by a court of competent jurisdiction against the other and all cost and expenses (including legal fees) arising in connection
with any such action and shall pay such costs and expenses on a current basis. 
  

	 	9.	Term 

 9.1 This Agreement
shall become effective on Nov 3, 2006 for an initial period of five (5) years. It shall be automatically extended for a one (1) year period unless one PARTY gives twelve (12) months’ prior written notice that it does not
want such an extension. 

  
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	 	10.	Termination for Cause 

10.1 In the event that either PARTY should commit a breach of any of its obligations under this Agreement, and shall have not cured such
breach within sixty (60) days after receipt of written notice of breach from the other PARTY, then such other PARTY shall have the right to terminate this Agreement forthwith by written notice. 

10.2 In the event that either PARTY should become insolvent or makes an assignment for the benefit of creditors or proceedings in
voluntary or involuntary bankruptcy should be instituted against it or a receiver or trustee of its property should be appointed, then the other PARTY shall have the right to terminate this Agreement forthwith by written notice. 

10.3 In the event that PCAS is not able to manufacture the Product according to the Specifications stated in APPENDIX I or for any reason
should be unable (including but not limited to cases of Force Majeure) to supply the Product for a consecutive three (3) months period (whether in the quantities ordered or at all), CORCEPT may require that PCAS promptly transfer to CORCEPT, or
its designee, the manufacturing process for Product and Finished Product including, but not limited to, all synthetic protocols, standard operating procedures, assays, standards, contact information for raw material suppliers and other vendors, and
the like, together with the right to use and practice the same. In the event that PCAS would not able to manufacture the Product according to the Specifications stated in APPENDIX I or for any reason (including but not limited to cases of Force
Majeure) to supply the Product for a total and consecutive six (6) months period (whether in the quantities ordered or at all), CORCEPT shall have the right to terminate this Agreement forthwith by written notice. The right to terminate is in
addition to any other remedy available at law or in equity. 
  

	 	11.	Force Majeure 

 11.1
Neither PARTY shall be responsible for a failure or delay in its performance of its obligations hereunder due to causes beyond its control such as wars, insurrection, inability to obtain supplies, strikes, lockouts, acts of God, governmental actions
or controls (whether or not contemplated on the date of signature of this Agreement) or other cause beyond the control of such PARTY. A PARTY whose performance has been delayed by causes beyond its control shall use its best efforts to overcome the
effect thereof as soon as possible. 

  
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	 	12.	Hardship 

 12.1 If, at any
time during the term of this Agreement, there is a substantial change in the economic, technological or market situation which will make the performance of this Agreement unrealistic or exceedingly unfair by either PARTY, aggrieved PARTY can request
a meeting with the other PARTY to discuss the situation, but there is no obligation to adjust the terms of this Agreement. 
  

	 	13.	Confidentiality 

 13. 1.
During the term of this Agreement and thereafter, each PARTY shall hold in confidence all Know-How provided in writing by the other PARTY, except for and to the extent that 
 13.1.1 Know-How required to be disclosed to government agencies for the purpose of registering Products or Finished Products; 
 13.1.2. Know-How that is or becomes part of the public domain through no fault of the receiving PARTY; 
 13.1.3 Know-How that is disclosed with the prior written approval of the disclosing PARTY; 
 13.1.4 Know-How that must be disclosed to those persons who have a need to know in order to effectuate the development of Products or Finished Products, provided that each such person has the obligation
to hold the Know-How in confidence to the same extent as the receiving PARTY is obligated hereunder; 
 13.1.5. Know-How that
becomes known to PARTY from a source other than the disclosing PARTY without breach of this Agreement by the receiving PARTY; provided that such other source has the right to disclose such Know-How; 

13.1.6 Know-How that is disclosed pursuant to an order or requirement of a court, administrative agency or other government body.

 13.2 This obligation of confidentiality shall survive expiration or termination of this Agreement for a period of 10 years.

 13.3. The PARTIES agree to give one another at least two business days’ notice of any public disclosure of their
relationship or the terms of this Agreement; provided that nothing shall prevent a PARTY from timely fulfilling its obligations under law or stock exchange regulations. Without limitation, PCAS agrees that CORCEPT may file a copy of this Agreement
with the Securities and Exchange Commission without further notice to PCAS if CORCEPT determines that it is legally obligated to do so. 

  
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 Manufacturing and Supply Agreement 

 

	 	14.	Non-Assignability 

 14.1
This Agreement and the rights and obligations hereunder shall not be transferable by either PARTY without the prior written consent of the other PARTY, which consent shall not be unreasonably withheld No consent shall be required in the case of a
transfer in a merger, sale of shares, sale of assets or similar transaction that results in a change of control. 
 14.2

  

	 	15.	Severability 

 15.1 Should
one of the provisions of this Agreement become or prove to be null and void, such event shall be without effect on the validity of this Agreement as a whole. Both Parties will, however, endeavor to replace the void provision with a valid one, which
in its economic effect comes as close as possible to effectuating the intention of the void provision. 

  
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 Manufacturing and Supply Agreement 

 

	 	16.	Waiver 

 16.1 If either
PARTY should at any time refrain from enforcing its rights arising from a breach or default by the other PARTY of any of the provisions of this Agreement, such waiver shall not be construed as a continuing waiver regarding that breach or default or
other breaches or defaults of the same or other provisions of this Agreement. 
  

	 	17.	Entire Agreement and Notification 

 17.1 The terms and conditions herein contained constitute the entire Agreement between the Parties with respect to the subject matter hereof. 

17.2. No modification or amendment of this Agreement shall be binding upon either PARTY hereto unless in writing and signed by duly
authorized officers of the PARTIES. APPENDIX I and APPENDIX II of this Agreement form an integral part of this Agreement. 
  

	 	18.	Governing Law; Dispute Resolution 

 18.1 This Agreement shall be governed by and construed in accordance with the laws of the State of California without giving effect to the conflict of laws principles thereof. Any controversy, claim or
dispute arising out of this Agreement shall be settled if possible through good faith negotiations between the PARTIES. If such negotiations are unsuccessful, such controversy, claim or dispute shall be finally resolved by binding arbitration before
three arbitrators in a proceeding conducted in the English language under the commercial arbitration rules of the American Arbitration Association and held in New York, NY. Each PARTY shall select one arbitrator, and the two arbitrators so selected
shall select a third, who shall preside. The award shall be made in accordance with California law, and shall be reasoned. The award may be entered by any court of competent jurisdiction. If one PARTY shall substantially prevail, as determined by
the arbitrators, it shall be entitled to reimbursement from the other PARTY for its expenses, including reasonable attorneys’ fees. 
  

	 	19.	Insurance 

 19.1 For so,
long as this Agreement is in effect, each PARTY shall procure and maintain, at its own expense, insurance policies, including product liability insurance, adequate to cover its obligations hereunder and which are consistent with normal business
practices of prudent companies similarly situation. Such policies shall provide protection against claims, demands and causes of action arising out of any defects, alleged or otherwise, of Product and Finished Product. 

  
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 Manufacturing and Supply Agreement 

 

 19.2 All of the foregoing policies shall be primary and noncontributory and shall
include as an additional named insured the other PARTY. Each policy will be endorsed to provide that the insurers will give the other PARTY, or its designee, not less than 30 days prior written notice of any cancellation or material change in
coverage. The policies shall be written by insurance companies with an A.M. Best rating of A-VIII or higher. 
 19.3 If a PARTY
fails to place or maintain insurance as required under this Agreement, the other PARTY of its designee may place and maintain such policy and all premium and other costs incurred by the other PARTY or its designee will be due to the first PARTY,
which shall be entitled to offer such amounts against any other amounts due the second PARTY under this Agreement. 
  

	 	20.	Representations 

 20.1
PCAS represents and warrants that it has all right, power and authority to enter into and perform this Agreement, that is has been granted all rights and licenses necessary to manufacture the Product and that nothing contained in any other agreement
or legal right prohibits or restricts PCAS from entering into and performing any part of this Agreement. PCAS represents and warrants that its manufacture of the Product will not infringe any patent rights or infringe or misappropriate any other
intellectual property rights held by third parties. PCAS represents and warrants that PCAS has the rights that fully allow PCAS to manufacture the Product for CORCEPT in perpetuity and cannot be rescinded or cancelled. 

20.2 PCAS represents and warrants as of the date of this Agreement and continuously during its term that it has never been and none of its
employees, affiliates and agents has ever been (i) debarred, (n) convicted or a crime for which a person can be debarred, (vi) threatened to be debarred, or (iv) indicted for a crime or otherwise engaged in conduct for which a
person can be debarred under Section 335(a) of 335(b) of the US Federal Food, Drug, and Cosmetic Act or any similar statute of any other jurisdiction. PCAS agrees that it will promptly notify CORCEPT in the event of any facts inconsistent with
this representation. 
 20.3 The Parties acknowledge that Mifepristone is not covered by any composition of matter patent.
CORCEPT represents and warrants that it holds exclusive rights to a U.S. patent covering the use of Mifepristone for the treatment of psychotic major depression. 

  
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 Manufacturing and Supply Agreement 

 

	 	21.	Notices 

 Any notices,
reports, consents or requests required or permitted under this Agreement shall be in writing and deemed to have been given (i) when actually received; (ii) when delivered personally, (iii) when sent by confirmed facsimile,
(iv) ten (10) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (v) five (5) business days after deposit with an internationally recognized commercial overnight
courier specifying next day delivery (if available, or two (2) day delivery otherwise) with written verification of receipt. All communications shall be sent to the addresses set forth below: 

If to PCAS: 

Produits Chimiques Auxiliarires et Synthese SA 
 23 rue Bossuet 
 91161 Longjumeau Cedex 

France 

Attention: Vincent Touraille 
 Telephone: 33-1-6909-7785 
 Fax: 33-1-6974-8104 

If to Corcept: 

Corcept Therapeutics Incorporated 
 149 Commonwealth Drive 
 Menlo Park, CA 94025 

USA 

Attention: Robert. Roe 
 Telephone: 1-(650) 327-3270 
 Fax: 1-(650) 327-3218 

  
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 Manufacturing and Supply Agreement 

 

							
	Duly authorized for and	 		 		 	Duly authorized for and
	on behalf of Corcept	 		 		 	on behalf of PCAS
				
	 08 November 2006
	 		 		 	 3rd November 2006

	Date	 		 		 	Date
				
	 /s/ Robert L. Roe
	 		 		 	 /s/ Vincent Touraille

	Signature	 		 		 	Signature
				
	 Robert L. Roe
	 		 		 	 Vincent Touraille

	Name	 		 		 	Name
				
	 President
	 		 		 	 Managing Director

	Position	 		 		 	Position

  

			
	APPENDIX I:	 	Quality Specification
		
	APPENDIX II:	 	Prices/Quantities

  
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 Manufacturing and Supply Agreement 

 
  
  

							
	 CORCEPT MANUFACTURING SPECIFICATION

 

	 Specification No:
	  	 MAP003.01
	  	Page:	  	 1 of 2

				
	 Effective Date: 
	  	07 Nov 06	  	Supercedes:	  	New
		
	 Name:
	  	C-1073, mifepristone, (11ß – [p-(dimethylamino)phenyl]-17ß – hydroxy-17a
–(1-propynyl)estra-4,9-dien-3-one (IUPAC)

 SPECIFICATIONS

  

					
	 Test
	  	 Acceptance Criteria
	  	 Method

	 Description
	  	[ *** ]	  	[ *** ]
	 Identification
	  		  	
	 IR or

HPCL
	  	[ *** ]	  	 [ *** ]
  
 [ *** ]

	 Assay
	  	[ *** ]	  	[ *** ]
	 Impurities
	  	[ *** ]	  	[ *** ]
	 Water Content
	  	[ *** ]	  	[ *** ]
	 Specific Rotation
	  	[ *** ]	  	[ *** ]
	 Heavy Metals
	  	[ *** ]	  	[ *** ]
	 Residue on Ignition
	  	[ *** ]	  	[ *** ]
	 Residual Solvents
	  		  	[ *** ]
	 [ *** ]

[ *** ]
 [ *** ]
 [ *** ]

[ *** ]
 [ *** ]
 [ *** ]
	  	[ *** ]	  	
	 Melting Range
	  	[ *** ]	  	[ *** ]

 [ *** ] 

Recommended Packaging:      [ *** ] 
 Recommended Storage:           [ *** ] 

Sampling Requirements:        [ *** ] 

 
 [***] Certain information on this page
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 Manufacturing and Supply Agreement 

 
  
  

 CORCEPT MANUFACTURING SPECIFICATION 

 

							
				
	 Specification No:
	  	 MAP003.01
	  	Page:	  	 2 of 2

				
	 Effective Date: 
	  	07 Nov 06	  	Supercedes:	  	New
		
	 Name:
	  	C-1073, mifepristone, (11ß – [p-(dimethylamino)phenyl] 17ß – hydroxy-17a –(1-propynyl)estra-4,
9-dien-3-one (IUPAC)

 Specifications/Approval 

 

					
	  	  	 Signature
	  	 Date

	 Author
	  	/s/ Barbara J. Laidlaw	  	07 Nov 06
	 Corcept QA/QC Approval
	  	/s/ Barbara J. Laidlaw	  	07 Nov 06
	 Corcept Regulatory Approval
	  	/s/ Robert L. Roe	  	07 Nov 06

 Document Change History 

 

			
	 Version
	  	 Change

	.01	  	[ *** ]

  
 [***]
Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 Manufacturing and Supply Agreement 

 
  
  

 APPENDIX II 
 Prices 
  

									
	 Yearly/Quantity
 $/€ Exchange
 Rate
	 	 [ *** ]kg
  

$/kg
	 	 [ *** ]kg
  

$/kg
	 	 [ *** ]kg
  

$/kg
	 	 [ *** ]kg
  

$/kg

	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]
	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]
	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]
	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]
	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]	 	[ *** ]

  
 [***]
Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 16 of 16Escrow Agreement, dated as of May 4, 2012

 Exhibit 10.1 

 
 

 
 ESCROW AGREEMENT 
 among 
 FDF RESOURCES HOLDINGS LLC 

and 

NYTEX FDF ACQUISITION, INC. 
 and 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Escrow Agent

 dated as of May 4, 2012 

 ESCROW AGREEMENT dated as of May 4, 2012, by and among THE BANK OF NEW YORK
MELLON TRUST COMPANY, N.A., a national banking association (the “Escrow Agent”), the undersigned depositor (the “Depositor”) and the undersigned party (“Party B”; the Depositor and Party B are also
individually herein referred to as an “Interested Party” and collectively as the “Interested Parties”). 
 PRELIMINARY STATEMENTS: 
 WHEREAS, the Depositor, Party B and New Francis
Oaks, LLC (“Francis Oaks”) have entered into that certain Agreement and Plan of Merger dated as of May 4, 2012 (as amended, supplemented or otherwise modified from time to time, the “Underlying Agreement”)
pursuant to which, in exchange for the consideration being paid by the Depositor, Francis Oaks will merge with and into the Depositor, so that the Depositor will continue as the surviving entity of the merger; capitalized terms used in this Escrow
Agreement have the meanings given to them in the Underlying Agreement unless otherwise defined herein; 
 WHEREAS, the
Underlying Agreement contemplates that Depositor will cause to be deposited into escrow $6,250,000 (the “Escrow Amount”); 
 WHEREAS, the Escrow Agent is willing to act as the Escrow Agent hereunder, and to hold and invest the Escrow Amount in an interest-bearing account no. 880675, title FDF RESOURCES & NYTEX
FDF ESCROW: at its offices at 10161 Centurion Parkway, 2nd
Floor Jacksonville, FL 32256 (the “Escrow Account”); 
 NOW, THEREFORE, in consideration of the foregoing and
of the mutual agreements contained herein, and intending to be legally bound hereby, the Interested Parties hereby appoint the Escrow Agent to act as, and the Escrow Agent hereby agrees to act as, escrow agent hereunder and to hold and distribute
Escrow Property (as defined herein) in accordance with and subject to the following Instructions and Terms and Conditions, and the parties hereby agree as follows: 
 I. INSTRUCTIONS: 
 1. Escrow Property. The Depositor shall deliver
the Escrow Amount to the Escrow Agent concurrently with the execution hereof by wire transfer of immediately available funds to the Escrow Account. The Escrow Amount, plus all interest, dividends and other distributions, payments and earnings
thereon and proceeds thereof (collectively the “Distributions”) received by the Escrow Agent, less any property and/or funds distributed or paid in accordance with this Escrow Agreement, are collectively referred to herein as
“Escrow Property,” and shall be held by the Escrow Agent in escrow and disbursed in accordance with the terms and provisions of this Escrow Agreement. 
 2. Investment and Reinvestment of Escrow Property. During the term of this Escrow Agreement, the Escrow Property shall be invested and reinvested by the Escrow Agent in BNY Mellon Cash Reserve. The
Escrow Agent shall have no liability for any loss sustained as a result of any investment selected as indicated in the previous sentence or made pursuant to the written instructions of the Interested Parties, as a result of any liquidation of any
investment prior to its maturity or failure of the Interested Parties to give the Escrow Agent instructions to invest or reinvest the Escrow Property. Although the Interested Parties recognize that they may obtain a broker confirmation or written
statement containing comparable information at no additional cost, the Interested Parties hereby agree that confirmations of permitted investments are not required to be issued by the Escrow Agent for each month in which a monthly statement is
rendered. No statement need be rendered for the Escrow Account if no activity occurred for such month. 
 3. Distribution of
Escrow Property. The Escrow Agent is directed to hold and distribute the Escrow Property in the following manner: 
 (a) To
the extent there is a Working Capital Deficit on the Final Closing Statement, as determined pursuant to Section 3.8 of the Underlying Agreement, then within two (2) business days following receipt of a disbursement notice executed by the
Interested Parties substantially in the form of Exhibit A hereto, the Escrow Agent shall disburse to the Depositor the amount set forth in such disbursement notice pursuant to the instructions set forth therein. 

  
 2 

 (b) Twenty five percent (25%) of the Escrow Property remaining after eighteen
(18) months following the date hereof (the “Initial Escrow Period”) shall be released to Party B upon receipt of a disbursement notice executed by the Interested Parties substantially in the form of Exhibit A hereto, the
Escrow Agent shall disburse the amount set forth in such disbursement notice pursuant to the instructions set forth therein; provided however that if the Escrow Agent has received a letter of claim (“Indemnity Claim”) in the form of
Exhibit B hereto from the Depositor on or before midnight on the expiration of the Initial Escrow Period (which Indemnity Claim remains unresolved at such time), such amount as set forth in the Indemnity Claim shall remain in the Escrow
Account and the amounts not in dispute, if any, shall be released to Party B upon the expiration of the Initial Escrow Period. 

(c) All Escrow Property remaining after thirty-six (36) months following the date hereof (the “Full Escrow Period”)
shall be released to Party B upon receipt of a disbursement notice executed by the Interested Parties substantially in the form of Exhibit A hereto, the Escrow Agent shall disburse the amount set forth in such disbursement notice pursuant to
the instructions set forth therein; provided however that if the Escrow Agent has received an Indemnity Claim from the Depositor on or before midnight on the expiration of the Full Escrow Period (which Indemnity Claim remains unresolved at such
time), such amount as set forth in the Indemnity Claim shall remain in the Escrow Account and the amounts not in dispute, if any, shall be released to Party B upon the expiration of the Full Escrow Period. 

(d) The aggregate amount of the Escrow Property not released by the Escrow Agent due to unresolved Indemnity Claims as of the expiration
of the Initial Escrow Period or the Full Escrow Period, as the case may be, shall continue to be held by the Escrow Agent and not released to Party B until the earlier of (i) such time as delivery to the Escrow Agent of a final adjudication
(including appeals) in favor of Party B by a court of competent jurisdiction or (ii) agreement by the Depositor and Party B as to a disbursement of the Escrow Property to Party B evidenced by delivery to the Escrow Agent of a disbursement
notice executed by the Interested Parties substantially in the form of Exhibit A hereto. 
 (e) To the extent the
Depositor sends an Indemnity Claim to the Escrow Agent and Party B, the Escrow Agent shall not disburse to the Depositor the amount set forth in such Indemnity Claim, or any other amount, until it receives either (i) a disbursement notice
executed by the Depositor and Party B substantially in the form of Exhibit A hereto or (ii) a final adjudication (including appeals) in favor of Depositor by a court of competent jurisdiction. 

4. Authorized Persons. Each of the Interested Parties shall, on the date of this Escrow Agreement, deliver to the other Interested
Party and the Escrow Agent a certificate in the form of Schedule 1 hereto as to the incumbency and specimen signature of each officer or other representative of such party authorized to act for and give and receive notices, requests and
instructions on behalf of such party in connection with this Escrow Agreement (each such officer or other representative, an “Authorized Person”). From time to time, an Interested Party may, by delivering to the other Interested
Party and the Escrow Agent a revised certificate in the form of Schedule 1, change the information previously given, but each of the parties hereto shall be entitled to rely conclusively on the then-current schedule until receipt of a
superseding schedule. Notwithstanding anything to the contrary herein, any and all acts, notices, requests and instructions on behalf of the Depositor in connection with this Escrow Agreement shall be authorized by at least 2 (two) Authorized
Persons acting on behalf of the Depositor. 
 5. Facsimile/Email Instructions. Each of the Interested Parties hereby
provides to the Escrow Agent and agrees with and accepts the authorizations, limitations of liability, indemnities, security procedure and other provisions set forth on Schedule 2 hereto in connection with the Escrow Agent’s reliance
upon and compliance with instructions and directions sent by such parties via e-mail, facsimile and other similar unsecured electronic methods. 
 6. Addresses. Notices, instructions and other communications shall be sent to the Escrow Agent at The Bank of New York Mellon Trust Company, N.A., Corporate Trust Administration, 10161 Centurion
Parkway, 2nd Floor Jacksonville, FL 32256, Attn.: Escrow
Unit, Facsimile No. 904-645-1921, and to the Interested Parties as follows: 

  
 3 

			
	 Depositor
	  	Party B
		  	
	 FDF Resources Holdings LLC
	  	NYTEX FDF Acquisition, Inc.
	 c/o Prophet Equity
	  	c/o NYTEX Energy Holdings, Inc.
	 1460 Main Street, Suite 200
	  	12222 Merit Drive, Suite 1850
	 Southlake, Texas 76092
	  	Dallas, Texas 75251
	 Attn:     Ross Gatlin, CEO & Managing Partner
	  	Attn: Michael K. Galvis
	               John Tatum, Principal
	  	Fax:
	               Charles Collie, Senior Executive Director
	  	Tel:
	               Trevor Cohen, Vice President
	  	
	 Fax:      (817) 898-1509
	  	
	 Tel:      (817) 898-1500
	  	
		  	
	     with a copy to
	  	 with a copy to

		  	
	 Richards, Kibbe & Orbe LLP
	  	Winston & Strawn LLP
	 One World Financial Center
	  	200 Park Avenue
	 New York, New York 10281
	  	New York, NY 10166
	 Attn:     Larry G. Halperin
	  	Attn:     Bradley C. Vaiana
	               Joon P. Hong
	  	             Bryan C. Goldstein
	 Fax:    (212) 530-1801
	  	Fax:     (212) 294-4700
	 Tel:    (212) 530-1800
	  	Tel:     (212) 294-2610
		  	            (212) 294-6668

 7. Termination. This Escrow Agreement shall terminate upon the distribution or disbursement by the
Escrow Agent of all Escrow Property in accordance with the terms hereof. 
 8. Compensation. (a) In respect of the
Escrow Agent’s services hereunder, the Interested Parties shall be jointly and severally obligated to pay the Escrow Agent the fees, expenses, charges and other amounts as set forth on the attached Schedule 3. 

(b) The Interested Parties shall additionally be jointly and severally obligated to pay all activity and investment charges as per the
Escrow Agent’s (or, in the case of execution of investment orders, executing parties’) then-current schedule for such charges. 
 (c) The Interested Parties shall be jointly and severally responsible for and shall reimburse the Escrow Agent upon demand for all expenses, disbursements and advances incurred or made by the Escrow Agent
in connection with this Agreement, including, without limitation, the costs, expenses and disbursements of legal counsel for the Escrow Agent. 
 (d) Notwithstanding anything to the contrary in this Escrow Agreement, any amounts payable or to be paid by Party B under this Section 8 and Sections 9, 10(b) and 11(b) under Terms and Conditions, up
to a maximum aggregate amount of $15,000, shall be paid out of the Escrow Property, and the parties hereto acknowledge and agree that no disbursement notice shall be required for such purposes. 

  
 4 

 II. TERMS AND CONDITIONS: 
 1. Escrow Agent’s Duties. The duties, responsibilities and obligations of the Escrow Agent shall be limited to those expressly set forth herein, and no duties, responsibilities or obligations
shall be inferred or implied. The Escrow Agent shall not be subject to, nor required to comply with, nor required to inquire as to the performance of any obligation under, any other agreement between or among the Interested Parties (including the
Underlying Agreement) or to which any Interested Party is a party, even though reference thereto may be made herein, or to comply with any direction or instruction (other than those contained herein or delivered in accordance with this Escrow
Agreement) from any Interested Party or any entity acting on its behalf. The Escrow Agent shall not be required to, and shall not, expend or risk any of its own funds or otherwise incur any financial liability in the performance of any of its duties
hereunder. 
 2. Agreement for Benefit of Parties. This Agreement is for the exclusive benefit of the parties hereto and their respective
successors hereunder, and shall not be deemed to give, either express or implied, any legal or equitable right, remedy, or claim to any other entity or person whatsoever. 
 3. Escrow Agent’s Reliance on Orders, Etc. If at any time the Escrow Agent is served with any judicial or administrative order, judgment, decree, writ or other form of judicial or
administrative process which in any way affects the Escrow Property (including, but not limited to, orders of attachment or garnishment or other forms of levies or injunctions or stays relating to the transfer of the Escrow Property), the Escrow
Agent is authorized to comply therewith in any manner as it or its legal counsel of its own choosing deems appropriate; and if the Escrow Agent complies with any such judicial or administrative order, judgment, decree, writ or other form of judicial
or administrative process, the Escrow Agent shall not be liable to any of the parties hereto or to any other person or entity even though such order, judgment, decree, writ or process may be subsequently modified or vacated or otherwise determined
to have been without legal force or effect. 
 4. The Escrow Agent. 
 (a) The Escrow Agent shall not be liable for any action taken or omitted or for any loss or injury resulting from its actions or its performance or lack of performance of its duties hereunder in the
absence of gross negligence or willful misconduct on its part. In no event shall the Escrow Agent be liable (i) for acting in accordance with or relying upon (and shall be fully protected in relying upon) any instruction, notice, demand,
certificate or document from each of the Interested Parties, (ii) for any indirect, consequential, punitive or special damages, even if advised of the possibility thereof, (iii) for the acts or omissions of its nominees, correspondents,
designees, subagents or subcustodians selected by it in good faith, or (iv) for an amount in excess of the value of the Escrow Property. 

(b) As security for the due and punctual performance of any and all of the Interested Parties’ obligations to the Escrow Agent hereunder, now or
hereafter arising, the Interested Parties, individually and collectively, hereby pledge, assign and grant to the Escrow Agent a continuing security interest in, and a lien on and right of setoff against, the Escrow Property and all Distributions
thereon, investments thereof or additions thereto (whether such additions are the result of deposits by Depositor or the investment of Escrow Property or otherwise). If any fees, expenses or costs incurred by, or any obligations owed to, the Escrow
Agent hereunder are not promptly paid when due, the Escrow Agent may reimburse itself therefor from the Escrow Property, and may sell, convey or otherwise dispose of any Escrow Property for such purpose. The security interest and setoff rights of
the Escrow Agent shall at all times be valid, perfected and enforceable by the Escrow Agent against the Interested Parties and all third parties in accordance with the terms of this Escrow Agreement. 

(c) The Escrow Agent may consult with legal counsel at the expense of the Interested Parties as to any matter relating to this Escrow Agreement, and the
Escrow Agent shall not incur any liability in acting in good faith in accordance with any written advice from such counsel. 
 (d) The Escrow
Agent shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of the Escrow Agent (including, but not limited to, any act or provision of
any present or future law or regulation or governmental authority, any act of God or war or terrorism, or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility). 

  
 5 

 5. Collections. Unless otherwise specifically set forth herein, the Escrow Agent shall proceed as
soon as practicable to collect any checks or other collection items at any time deposited hereunder. All such collections shall be subject to the Escrow Agent’s usual collection practices or terms regarding items received by the Escrow Agent
for deposit or collection. The Escrow Agent shall not be required, or have any duty, to notify anyone of any payment or maturity under the terms of any instrument deposited hereunder, nor to take any legal action to enforce payment of any check,
note or security deposited hereunder or to exercise any right or privilege which may be afforded to the holder of any such security. 
 6.
Statements. The Escrow Agent shall provide to the Interested Parties statements (not less frequently than monthly) reflecting activity in the Escrow Account for the preceding period. No statement need be provided for periods in which no
Escrow Account activity occurred. Each such statement shall be deemed to be correct and final upon receipt thereof by the Interested Parties unless the Escrow Agent is notified in writing to the contrary within thirty (30) business days of the
date of such statement. 
 7. Limitation of Escrow Agent’s Responsibility. The Escrow Agent shall not be responsible in any respect
for the form, execution, validity, value or genuineness of documents or securities deposited hereunder, or for any description therein, or for the identity, authority or rights of persons executing or delivering or purporting to execute or deliver
any such document, security or endorsement. 
 8. Notices. Notices, instructions or other communications shall be in writing and shall be
given to the address set forth in the “Addresses” provision herein (or to such other address as may be substituted therefor by written notification to the other parties). Notices to the Escrow Agent shall be deemed to be given when
actually received by the Escrow Agent’s Escrow Unit. The Escrow Agent is authorized to comply with and rely upon any notices, instructions or other communications believed by it to have been sent or given by an Interested Party or by a person
or persons authorized by an Interested Party, including persons identified on Authorized Persons schedules delivered pursuant to Section 4 of the Instructions. Whenever under the terms hereof the time for giving a notice or performing an act
falls upon a Saturday, Sunday, or banking holiday, such time shall be extended to the next day on which the Escrow Agent is open for business. 

9. Indemnity. The Interested Parties, jointly and severally, shall be liable for and shall reimburse and indemnify the Escrow Agent and hold the
Escrow Agent and its affiliates, and the Escrow Agent’s and such affiliates’ respective directors, officers, employees, agents, successors and assigns, harmless from and against any and all claims, losses, liabilities, costs,
disbursements, damages or expenses (including reasonable attorneys’ fees and expenses and court costs) (collectively, “Losses”) arising from or in connection with or related to this Escrow Agreement or being the Escrow Agent
hereunder (including but not limited to Losses incurred by the Escrow Agent in connection with its successful defense of any claim of gross negligence or willful misconduct on its part), provided, however, that nothing contained herein
shall require the Escrow Agent to be indemnified for Losses caused by its gross negligence or willful misconduct. 
 10. Removal and
Resignation of Escrow Agent; Successor Escrow Agent. 
 (a) The Interested Parties may remove the Escrow Agent at any time by giving to the
Escrow Agent thirty (30) calendar days’ prior notice in writing signed by the Interested Parties. The Escrow Agent may resign at any time by giving thirty (30) calendar days’ prior written notice thereof. 

(b) Within ten (10) calendar days after giving the foregoing notice of removal to the Escrow Agent or receiving the foregoing notice of resignation
from the Escrow Agent, the Interested Parties shall jointly agree on and appoint a successor Escrow Agent. If a successor Escrow Agent has not accepted such appointment by the end of such thirty (30) day period, the Escrow Agent may apply to a
court of competent jurisdiction for the appointment of a successor Escrow Agent or for other appropriate relief, and thereafter be relieved of all further duties and obligations as Escrow Agent hereunder. The costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Escrow Agent in connection with such proceeding shall be paid by, and be deemed a joint and several obligation of, the Interested Parties. 
 (c) Upon receipt of the identity of the successor Escrow Agent, the Escrow Agent shall either deliver the Escrow Property then held hereunder to the successor Escrow Agent, less the amount of fees, costs
and expenses or other obligations owed to the Escrow Agent, or hold such Escrow Property (or any portion thereof), pending distribution, until all such fees, costs and expenses or other obligations are paid. 

  
 6 

 (d) Upon delivery of the Escrow Property to the successor Escrow Agent, the Escrow Agent shall have no
further duties, responsibilities or obligations hereunder. 
 11. Escrow Agent’s Obligations in the Event of Ambiguities, Conflicting
Claims, Etc. 
 (a) In the event of any ambiguity or uncertainty hereunder or in any notice, instruction or other communication received by
the Escrow Agent hereunder, the Escrow Agent may, in its sole discretion, refrain from taking any action other than retain possession of the Escrow Property, unless and until the Escrow Agent receives written instructions, signed by the Interested
Parties, which eliminates such ambiguity or uncertainty. 
 (b) In the event of any dispute between or conflicting claims by or among the
Interested Parties and/or any other person or entity with respect to any Escrow Property, the Escrow Agent shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Escrow
Property so long as such dispute or conflict shall continue, and the Escrow Agent shall not be or become liable in any way to any Interested Party for failure or refusal to comply with such conflicting claims, demands or instructions. The Escrow
Agent shall be entitled to refuse to act until, in its sole discretion, either (i) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order,
judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Escrow Agent, or (ii) the Escrow Agent shall have received security or an indemnity satisfactory
to it sufficient to hold it harmless from and against any and all Losses which it may incur by reason of so acting. The Escrow Agent may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or
orders as it may deem, in its sole discretion, necessary. The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed a joint and several
obligation of, the Interested Parties. 
 12. Governing Law; Jurisdiction; Waiver of Right to Trial by Jury. This Escrow Agreement shall
be interpreted, construed, enforced and administered in accordance with the internal substantive laws (and not the choice of law rules) of the State of New York. Each Interested Party hereby submits to the personal jurisdiction of and each agrees
that all proceedings relating hereto shall be brought in courts located within the City and State of New York. Each Interested Party hereby waives the right to trial by jury and to assert counterclaims in any such proceedings. To the extent that in
any jurisdiction any Interested Party may be entitled to claim, for itself or its assets, immunity from suit, execution, attachment (whether before or after judgment) or other legal process, each such party hereby irrevocably agrees not to claim,
and hereby waives, such immunity. Each Interested Party waives personal service of process and consents to service of process by certified or registered mail, return receipt requested, directed to it at the address last specified for notices
hereunder, and such service shall be deemed completed ten (10) calendar days after the same is so mailed. 
 13. Amendments, Etc.
Except as otherwise permitted herein, this Escrow Agreement may be modified only by a written amendment signed by all the parties hereto, and no waiver of any provision hereof shall be effective unless expressed in a writing signed by the party to
be charged. 
 14. Remedies Cumulative. The rights and remedies conferred upon the parties hereto shall be cumulative, and the exercise
or waiver of any such right or remedy shall not preclude or inhibit the exercise of any additional rights or remedies. The waiver of any right or remedy hereunder shall not preclude the subsequent exercise of such right or remedy. 

15. Representations and Warranties. Each of the Interested Parties represents and warrants (a) that this Escrow Agreement has been duly
authorized, executed and delivered on its behalf and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other debtor relief laws and that certain equitable remedies may not be available regardless of whether enforcement is sought in equity or at law, and (b) that the execution, delivery and performance of this Escrow
Agreement by it do not and will not violate any applicable law or regulation. 
 16. Illegality, Etc. The invalidity, illegality or
unenforceability of any provision of this Escrow Agreement shall in no way affect the validity, legality or enforceability of any other provision; and if any provision is held to be enforceable as a matter of law, the other provisions shall not be
affected thereby and shall remain in full force and effect. 

  
 7 

 17. Entire Agreement. This Escrow Agreement shall constitute the entire agreement of the parties with
respect to the subject matter and supersedes all prior oral or written agreements in regard thereto. 
 18. Survival of Certain
Provisions. Section 8 of the Instructions and Sections 8-9, 12 and 21-22 of the Terms and Conditions of this Escrow Agreement shall survive termination of this Escrow Agreement and/or the resignation or removal of the Escrow Agent.

 19. Headings. The headings contained in this Agreement are for convenience of reference only and shall have no effect on the
interpretation or operation hereof. 
 20. Counterparts. This Escrow Agreement may be executed by each of the parties hereto in any
number of counterparts and may be executed by facsimile or electronic delivery, each of which when so executed and delivered, shall be deemed to be an original and all such counterparts shall together constitute one and the same agreement.

 21. Certain Tax Matters. Except as provided in paragraph 4(b) of the Terms and Conditions above, the Escrow Agent does not have any
interest in the Escrow Property but is serving as escrow holder only and having only possession thereof. The Interested Parties shall jointly and severally be obligated to and shall pay or reimburse the Escrow Agent upon request for any transfer
taxes or other taxes relating to the Escrowed Property incurred in connection herewith and shall jointly and severally indemnify and hold harmless the Escrow Agent for any amounts that it is obligated to pay in the way of such taxes. Any payments of
income from this Escrow Account shall be subject to withholding regulations then in force with respect to United States taxes. The parties hereto will provide the Escrow Agent with appropriate W-9 forms for tax I.D., number certifications, or W-8
forms for non-resident alien certifications, and will inform the Escrow Agent as to the proper allocation of income in respect of the Escrow Property for annual and periodic tax and other reporting purposes. It is understood that the Escrow Agent
shall be responsible for income reporting only with respect to income earned on investment of funds which are a part of the Escrow Property and is not responsible for any other reporting. 
 22. Patriot Act Compliance, Etc. In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to
the funding of terrorist activities and money laundering and the Customer Identification Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Escrow Agent must obtain, verify
and record information that allows the Escrow Agent to identify customers (“Applicable Law”), the Escrow Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a
business relationship with the Escrow Agent. Accordingly, each Interested Party agrees to provide to the Escrow Agent upon its request from time to time such identifying information and documentation as may be available for such party in order to
enable the Escrow Agent to comply with Applicable Law, including, but not limited to, information as to name, physical address, tax identification number and other information that will help the Escrow Agent to identify and verify such Interested
Party such as organizational documents, certificates of good standing, licenses to do business or other pertinent identifying information. Each Interested Party understands and agrees that the Escrow Agent cannot open the Escrow Account unless and
until the Escrow Agent verifies the identities of the Interested Parties in accordance with its CIP. 
 23. Successors and Assigns of Escrow
Agent. Any corporation or other company into which the Escrow Agent may be merged or converted or with which it may be consolidated, or any corporation or other company resulting from any merger, conversion or consolidation to which the Escrow
Agent shall be a party, or any corporation or other company succeeding to the business of the Escrow Agent shall be the successor of the Escrow Agent hereunder without the execution or filing of any paper with any party hereto or any further act on
the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding. 

[Signature page follows] 

  
 8 

 IN WITNESS WHEREOF, each of the parties has caused this Escrow Agreement to be executed by a duly authorized
officer as of the day and year first written above. 
 DEPOSITOR: 

 

			
	FDF RESOURCES HOLDINGS LLC
		
	By:	 	/s/ Ross Gatlin
		 	Name: Ross Gatlin
		 	Title: Manager

 PARTY B: 
  

			
	NYTEX FDF ACQUISITION, INC.
		
	By:	 	/s/ Michael G. Francis
		 	Name: Michael G. Francis
		 	Title: President

 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Escrow Agent 

 

			
	
		
	By:	 	/s/ Stephanie Matthews
		 	Name: Stephanie Matthews
		 	Title: Associate

 Signature Page to Escrow Agreement 

 Schedule 1 

Authorized Officers of the Depositor 
  

					
	Name	 		 	      Signature
			
	Ross Gatlin	 		 	/s/ Ross Gatlin
	John Tatum	 		 	/s/ John Tatum
	Charles Collie	 		 	/s/ Charles Collie
	Trevor Cohen	 		 	/s/ Trevor Cohen

 Authorized Officers of Party B 

 

					
	Name	 		 	        Signature
			
	Michael Galvis	 		 	/s/ Michael Galvis
	Bryan Sinclair	 		 	/s/ Bryan A. Sinclair

 Escrow Agreement Incumbency 

 Schedule 2 

ELECTRONIC METHODS AUTHORIZATION, LIMITATION OF LIABILITY AND INDMENITY 

Interested Party Authorization, Limitation of Liability and Indemnity. Each Interested Party hereby authorizes the Escrow Agent
and its affiliates (the “Bank”) to rely upon and comply with instructions and directions sent by it via e-mail, facsimile and other similar unsecured electronic methods (but excluding on-line communications systems covered by a
separate agreement such as the Bank’s Inform or CA$H-Register Plus system, “On-Line Communications Systems”) (“Electronic Methods”) by persons believed by the Bank to be authorized to give instructions and
directions on behalf of the Interested Party. Except as set forth below with respect to funds transfers, the Bank shall have no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person
authorized to give instructions or directions on behalf of the Interested Party (other than to verify that the signature on a facsimile is the signature of a person authorized to give instructions and directions on behalf of the Interested Party);
and the Bank shall have no liability for any losses, liabilities, costs or expenses incurred or sustained by the relevant Interested Party as a result of such reliance upon or compliance with such instructions or directions. Each Interested Party
agrees to assume all risks arising out of the use of Electronic Methods to submit instructions and directions to the Bank, including without limitation the risk of the Bank acting on unauthorized instructions, and the risk of interception and misuse
by third parties. 
 Funds Transfer Security Procedures. With respect to any “funds transfer,” as defined in
Article 4-A of the Uniform Commercial Code, the following security procedure will apply: An Interested Party’s payment instruction is to include the name and (in the case of a facsimile) signature of the person initiating the funds transfer
request. If the name is listed as an Authorized Person on a certificate in the form of Schedule 1 hereto delivered pursuant to the Escrow Agreement, the Bank will confirm the instructions by telephone call to any person listed as an
Authorized Person, who may be the same person who initiated the instruction. When calling back, the Bank will request from the relevant Interested Party’s staff member his or her name. If the name is listed in the Escrow Agent’s records as
an Authorized Person, the Bank will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. Each Interested Party acknowledges that the Bank has offered such
Interested Party other security procedures that are more secure and are commercially reasonable for such Interested Party, and that such Interested Party has nonetheless chosen the procedures described in this paragraph. Each Interested Party agrees
to be bound by any payment order issued in its name, whether or not authorized, that is accepted by the Bank in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric
identifier (e.g. ABA number or account number), the Bank, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries
as well as any intermediary bank. Each Interested Party agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Bank hereunder. 

Authorization. This authorization shall remain in full force and effect until the earlier of termination of this Escrow Agreement
or the date it is canceled, revoked or amended by written notice received by the Escrow Agent; and replaces and supersedes any previous authorization from an Interested Party to the Bank relating to the giving of instructions by facsimile, e-mail or
other similar Electronic Methods (but excluding On-Line Communications Systems) in relation to this Escrow Agreement, and is in addition to all other authorizations. Notwithstanding any revocation, cancellation or amendment of this authorization,
any action taken by the Bank pursuant to this authorization prior to the Bank’s actual receipt and acknowledgement of a notice of revocation, cancellation or amendment shall not be affected by such notice. 

Indemnity. Each Interested Party agrees to indemnify and hold harmless the Bank against any and all claims, losses, damages
liabilities, judgments, costs and expenses (including reasonable attorneys’ fees) (collectively, “Losses”) incurred or sustained by the Bank as a result of or in connection with the Bank’s reliance upon and compliance with
instructions or directions given by such Interested Party by Electronic Methods, provided, however, that such Losses have not arisen from the gross negligence or willful misconduct of the Bank, it being understood that, except for the confirmation
procedures set forth herein, the failure of the Bank to verify or confirm that the person giving the instructions or directions, is, in fact, an Authorized Person does not constitute gross negligence or willful misconduct. 

 Representation. Each Interested Party hereby represents and warrants to the Bank that
this authorization is properly given and has been duly approved by a resolution of its Board of Directors or if the Board of Directors no longer exists, an Authorized Person having power and authority to bind such Interested Party. 

  
 2

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