Document:

Exhibit
10.1

 

CONTRACT
FOR THE COMPOUNDING OF PHARMACEUTICAL PRODUCTS

 

This
CONTRACT FOR THE COMPOUNDING OF PHARMACEUTICAL PRODUCTS (this “Agreement”)
is hereby entered into this 8th day of December, 2014, by and between Immune Therapeutics, Inc., a company organized and currently
existing in good standing under the laws of the State of Florida and formerly known as TNI BioTech, Inc. (“TNI”);
and KRS Global Bio Technology, Inc., a company organized and currently existing in good standing under the laws of the State of
Florida (“KRS”). TNI and KRS are sometimes hereinafter referred to individually as a “party” and/or collectively
as the “parties”.

 

WHEREAS,
TNI has developed
a pharmaceutical product
designed to enhance
the immune system
and treat various diseases, including lymphoma, HIV
virus/AIDS, Kaposi Sarcoma,
Lymphoma, Ovarian Cancer, Epithelial,
Germ Cell Tumor, Low Malignant Potential
Tumor, Crohn’s Disease, Prostate Cancer, Irritable Bowel Syndrome, Pancreatic
Cancer, Pancreatic Neuroendoctrine Tumors, Parkinson’s
disease, multiple sclerosis, and
herpes. This product is composed of the
active drug naltrexone hydrocholoride and can be commercialized in the form of a tablet,
capsule, or as a cream. The product is called LDN.
TNI has all of the proprietary and legal rights to LDN. The form of this drug can
be modified as agreed to in writing by the parties; and

 

WHEREAS,
KRS is a pharmacy that specializes in the compounding of a variety of pharmaceutical products, and has the necessary licenses
and permits to compound, import and sell pharmaceutical products. At such time as TNI obtains the necessary approvals to commercialize
LDN, TNI will notify KRS in a timely manner to obtain the necessary permits to produce and commercialize LDN and will provide
the information and documentation for KRS to obtain these permits; and

 

WHEREAS,
the purpose of this Agreement is to set out the terms and conditions under which KRS will carry out the services of compounding,
packaging and distributing the LDN tablets, capsules and/or creams (the“LDN-CDS”); and

 

WHEREAS,
the tablets, capsules and creams will be compounded for shipment to patients in the United States or any other areas authorized
by KRS. In the compounding and packaging process, KRS must also comply with the United States of America’s Food and Drug
Administration’s (“FDA”) good manufacturing practices (“CGMP”) and those of any regulatory bodies.

 

NOW,
THEREFORE, FOR AND IN CONSIDERATION OF THE RECITALS/WHEREAS CLAUSES SET FORTH ABOVE, WHICH SHALL BE DEEMED AN INTEGRAL PART
OF THIS AGREEMENT AND NOT MERELY RECITALS THERETO, AND FOR $10.00 AND OTHER GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY
OF WHICH IS HEREBY ACKNOWLEDGED AS RECEIVED BY EACH PARTY FROM THE OTHER, THE PARTIES AGREE AS FOLLOWS:

 

		1.	KRS
                                         REPRESENTATIONS AND OBLIGATIONS:
                                         KRS hereby represents and agrees as follows:

 

	 	A)	To have all permits and licenses necessary to carry out the LDN-CDS;
		B)	To
                                         ship the
                                         amounts of
                                         compounded LDN ordered
                                         by physicians
                                         for their
                                         patients within
                                         thirty (30) days
                                         from the
                                         day the
                                         order is
                                         received;

		C)	To
                                         use only
                                         the Active Pharmaceutical Ingredients (the
                                         “API”) and
                                         raw materials
                                         that have
                                         been previously approved by
                                         TNI and
                                         only in
                                         the amounts
                                         that have been
                                         previously indicated in
                                         writing;

		D)	To
                                         obtain and
                                         pay for
                                         an insurance
                                         policy that
                                         protects the
                                         raw materials that
                                         are provided
                                         by TNI and
                                         the finished
                                         LDN tablets, capsules and/or creams (the “LDN-P”) against any natural
                                         disaster, or
                                         destruction of any reasonably insurable
                                         type (the “Insurance”). The Insurance
                                         must at all times protect the goods
                                         at the market value of the inventory, finished
                                         and unfinished goods and
                                         raw materials provided by
                                         TNI from time
                                         to time, and must name TNI as an additional loss payee;

		E)	To
                                         allow, upon prior reasonable notice, periodic
                                         inspection of
                                         the compounding and
                                         packaging process
                                         to be
                                         carried out either
                                         by TNI
                                         directly or
                                         by an agreed to third
                                         party on behalf of TNI;

		F)	To
                                         order in advance and have shipped directly to KRS all API for the LDN-CDS and packaging
                                         materials for the LDN-P; 

		G)	To
                                         ensure strict compliance with the CGMP;
	 	I)	To provide sufficient storage space for the raw materials,
                                                          ingredients, and packaged
                                                          products and to protect them from theft, flooding
                                                          or vermin and spoilage and provide
                                                          the aforementioned Insurance.

 

		2.	TNI'S
                                         REPRESENTATIONS AND OBLIGATIONS: TNI hereby
                                         represents and agrees as follows:

 

		A)	To
                                         provide sales
                                         and marketing
                                         assistance necessary to allow KRS to fulfill its obligations;

		B)	KRS
                                         and TNI agree that under the authorization of TNI and TNI’s patents, KRS shall
                                         order and have shipped directly to KRS the API necessary for the production of the LDN-CDS
                                         and KRS shall submit a purchase order for such API to TNI. TNI shall pay such purchase
                                         order directly to the supplier of the API by sending funds by wire transfer to such supplier
                                         within three (3) business days of receipt of such purchase order. Notwithstanding the
                                         foregoing, upon KRS receiving a minimum of 10,000 orders (prescriptions) per month (a
                                         “10K Month”), KRS will pay for the API for each such 10K Month;

		C)	The
                                         rights provided to KRS herein to provide the LDN-CDS and produce the LDN-P, are exclusive
                                         only to KRS and will not be provided to any other party or entity during the term of
                                         this Agreement;

C)
To provide KRS
with specifications for raw materials
and the LDN-P;

		D)	To
                                         provide KRS with
                                         the necessary
                                         technical specifications
                                         for the
                                         compounding and packaging
                                         processes of the LDN-P, as available;

		E)	In
                                         the event this Agreement is terminated by TNI for any reason, to reimburse KRS for all
                                         unused packaging materials for the LDN-P, which unused packaging materials KRS will provide
                                         to TNI;

		F)	To
                                         pay KRS,
                                         all agreed
                                         upon amounts,
                                         in a
                                         timely manner (within 10 days of receipt
                                         of an invoice from KRS);

		G)	In
                                         the event that KRS does not receive and ship at least 1,000 orders (prescriptions), to
                                         reimburse KRS for 100% of the “ramp up costs” of providing the LDN-CDS and
                                         producing the LDN-P, even in the case where TNI cancels/terminates this Agreement, which
                                         provision shall survive the cancellation/termination of this Agreement (for purposes
                                         of this Agreement, “ramp up costs” are defined as all costs and expenses
                                         of labor and materials related to the testing, and required FDA and other governmental
                                         documentation/approvals of test data);

		H)	To
                                         assign a person
                                         from TNI, agreeable to both parties, to be
                                         in charge
                                         of communication
                                         between TNI and
                                         KRS;

		I)	To
                                         provide the
                                         design of
                                         the secondary
                                         packing and
                                         the instructions
                                         in any
                                         language TNI needs; and

		J)	To
                                         submit all marketing materials to KRS for review and approval and such marketing materials
                                         must be reviewed and approved by KRS in writing.

 

		3.	KRS
                                         agrees
                                         that:

 

		A)	The
                                         raw materials
                                         provided for the LDN-CDS
                                         are to
                                         be used
                                         strictly for
                                         the compounding
                                         and packaging
                                         process of
                                         LDN and
                                         may under no circumstance be sold,
                                         transferred, or create a lien over, unless
                                         TNI has given prior written consent
                                         for such sale, transfer or lien;

		B)	Under
                                         no circumstances
                                         will KRS sell a
                                         pharmaceutical product
                                         containing the
                                         same formula and
                                         technical specifications
                                         as those
                                         used to manufacture and produce
                                         LDN; and/or

C)
KRS will not
share, license, or
otherwise transfer the
formula or technical
specifications for the manufacturing
of LDN.

 

		4.	QUALITY
                                         CONTROL: TNI
                                         will have
                                         the right, upon reasonable prior notice
                                         and at TNI’s own cost and expense, to
                                         carry out
                                         quality audits
                                         or to
                                         consent through an agreed to
                                         third party
                                         to inspect
                                         the compounding
                                         and packaging processes. TNI may
                                         solicit any quality certificate from
                                         KRS that may be required by the regulatory bodies of the United
                                         States, as it relates to the LDN-P.

		5.	TERM.
                                         This Agreement
                                         will have
                                         an initial term of
                                         three (3) years
                                         starting on
                                         the date
                                         of execution by all parties.
                                         The parties
                                         may agree
                                         to extend the term of this Agreement for
                                         one (1) year under the same
                                         terms and conditions, which agreement shall be made
                                         in writing, and executed at least
                                         sixty (60) days before the expiration
                                         of this Agreement.

		6.	EARLY
                                         TERMINATION: The
                                         parties can
                                         terminate this
                                         Agreement under
                                         any of the following circumstances:

 

		A)	Mutual
                                         agreement, in writing,

		B)	Either
                                         party may
                                         terminate this
                                         Agreement if
                                         the
                                         other party fails
                                         to materially
                                         comply with
                                         any of the
                                         material obligations that
                                         are to
                                         be fulfilled hereunder. 
                                         In such an
                                         event, the nonbreaching
                                         party shall
                                         give written notice of such
                                         breach and the other party
                                         shall have thirty (30) days to cure same before
                                         the termination is final. 
                                         In case of early
                                         termination by TNI, KRS will return any and
                                         all raw materials, finished products, patents,
                                         documents containing technical information, and any other property that belongs to TNI
                                         and complete
                                         all existing
                                         LDN purchase orders before
                                         termination, so long as TNI simultaneously reimburses KRS for all costs, expenses
                                         and profit related to same.

 

		7.	PAYMENT:
                                         KRS will
                                         pay TNI
                                         for every
                                         tablet or
                                         capsule it
                                         manufactures, packages and thereafter sells,
                                         calculated in accordance with the attached Exhibit “A” Payment Terms and
                                         Conditions, which Exhibit A is incorporated into this Agreement by this reference.
                                         Reconciliation and payment for each week (ending
                                         Friday) will be
                                         made by the following Wednesday.

 

To
enable TNI to reconcile amounts paid weekly in accordance with this section 7, KRS will provide TNI with the following information
on a per batch basis:

 

(a)
A list of all invoices evidencing shipments that occurred for the subject batch, showing the number of the tablets, capsules and/or
creams that were compounded and shipped to patients, and the prices paid by patients; and

(b)
A list of all shipping costs incurred by KRS to make the shipments in (a) above, together with copies of invoices or statements
provided by the shipping vendor; provided, however, that
if KRS receives a 10K Month, KRS will not be required to provide the information in 7 (a) and (b) above for that 10-K Month. 

 

TNI
shall have the right, upon reasonable prior notice and at TNI’s own cost and expense, to carry out periodic audits to verify
that all amounts owed to TNI have been paid.

 

If
during the term
of this Agreement,
the costs for
manufacturing and packaging
should increase, KRS shall
inform TNI in writing
within no more than sixty (60) days of such increase (the “Increase Notice”),
at which time both parties shall, within 10 days of the date of such Increase Notice,
reach a new
agreement on pricing in the form of
an addendum or KRS may immediately terminate this Agreement without any further notice or cure period.

 

		8.	ASSIGNMENT:
                                          Neither party may,
                                         under any
                                         circumstances, assign
                                         this Agreement, either totally
                                         or partially, nor
                                         the rights
                                         contained herein
                                         without the prior
                                         written consent of the other party and the assignee’s assumption of all
                                         of the obligations
                                         of the assignor as set forth herein.

 

		9.	LABOR
                                         RELATIONSHIP: This Agreement
                                         does not
                                         create any type
                                         of labor relationship
                                         between TNI
                                         and the
                                         employees of
                                         KRS. Therefore,
                                         KRS and TNI will
                                         be solely responsible for paying any
                                         and all wages,
                                         indemnifications, insurance policies, or any other payment due
                                         to its employees in accordance with
                                         all labor laws, any internal regulation and
                                         any trade union agreement, if one were to
                                         exist.

 

		10.	NONDISCLOSURE:
                                         “Confidential Information”
                                         shall be
                                         defined as
                                         any nonpublic information
                                         disclosed by
                                         one party
                                         to the
                                         other party
                                         and shall
                                         be deemed to include
                                         the following information of the respective
                                         parties, without limitation: (a) e-mail addresses,
                                         customer lists, the names of customer
                                         contacts, the names of
                                         investor contacts, investor lists,
                                         professional contacts, business
                                         plans, technical data, product
                                         ideas, personnel, contracts and financial
                                         information; (b) patents, trade secrets, techniques,
                                         processes, business methodologies, schematics, employee suggestions, 
                                         development  tools and 
                                         processes,  computer printouts, 
                                         computer programs,  design
                                         and drawings and manuals, and improvements; (c)
                                         information about costs, profits, markets and sales; (d) plans for
                                         future development and new product
                                         concepts; (e) all documents, books, papers,
                                         drawings, models, sketches, graphic design,
                                         photographs, type fonts, topographical treatments and text, illustrations,
                                         visual designs, animation, sound,
                                         visual elements, prints and other data of any kind and
                                         description, including electronic data
                                         recorded or retrieved by any means, that have
                                         been or will be disclosed, as well as written or oral instructions or comments.

 

Notwithstanding
the foregoing, Confidential
Information of a
party shall not
include information that (i) has
become public knowledge
through legal means without fault
by the receiving party, (ii) is already public knowledge prior
to the disclosure of the Confidential
Information by the party disclosing Confidential
Information (“Disclosing Party”)
to the party receiving Confidential Information
(“Receiving Party”), (iii) is known to the Receiving Party prior to
Disclosing Party’s disclosure of the same pursuant to this
Agreement, or (iv) is independently developed
by the Receiving Party without reference to or use of the
Confidential Information.

 

In
the performance of
this Agreement or
in contemplation thereof,
each party and
its employees and agents
may have access
to Confidential Information owned or controlled by the other party. All Confidential
Information supplied by one party to the
other shall remain the exclusive
property of the party supplying same. The Receiving
Party shall use a reasonable degree of care,
which in any event shall not be
less than the same degree of care which the
Receiving Party uses to
protect its own proprietary and confidential information, to
keep, and have its employees and agents
keep, confidential any and all Confidential Information.
In keeping
therewith,
the recipient
shall not copy or publish or disclose
the Confidential Information to others,
or authorize its employees, or agents
or anyone else to copy, publish or disclose it
to others, without the Disclosing Party’s written approval, nor shall
the Receiving Party make use of the Confidential Information except for the purposes
of executing its obligations under this Agreement, and shall return the Confidential
Information to the Disclosing Party at
its request.

 

Without
limiting the preceding
paragraph, each party
recognizes and acknowledges
that:

(i)           
the Confidential Information
is a valuable,
special and unique
asset of the Disclosing Party
and that disclosure
of any confidential
information would cause considerable harm to the Disclosing Party's business
reputation;

(ii)         
it is vital
to the Disclosing
Party’s legitimate business
interests that (1)
the confidentiality of the
Confidential information be preserved
and (2) the Confidential information only be used
for the purpose of this Agreement;

(iii)        
disclosure of the
Confidential Information to
any other person
or entity or
use of the Confidential
Information by or
on behalf of
any other person
or entity could
result in irreparable harm to the Disclosing Party;

(iv)        
disclosure or use
beyond the permitted
scope of Confidential
Information entrusted to the
Disclosing Party by
its clients and contractors could
expose Disclosing Party to substantial damages; and

(v)          
Receiving Party shall
not use or in
any way implement
the Confidential Information to
compete with the
Disclosing Party.

The
furnishing of Confidential
Information hereunder shall
not constitute or be construed
as a grant of
any express or
implied license or
other right, or a covenant not to
sue or forbearance from any other right
of action (except as it relates to the
purpose of this Agreement), by Disclosing Party under any of its patents or other intellectual property rights.

 

		11.	INTELLECTUAL
                                         PROPERTY RIGHTS
                                         AND USE
                                         OF INFORMATION:
                                         All

trademarks,
US and foreign
patents and extensions
thereof, trade secrets,
formulas, ideas, designs, computer
software, discoveries and
procedures used or
disclosed by TNI in relation
to the services agreed upon
in this Agreement are
owned exclusively by TNI and may be used only
in relation to the manufacturing and packaging processes described herein.
Unless otherwise in the public domain, they may
be given no
other use unless there is prior written
consent by TNI.

 

		12.	FORCE
                                         MAJEURE: For
                                         purposes of
                                         this Agreement,
                                         Force Majeure
                                         shall mean
                                         a cause or
                                         event that
                                         is not
                                         reasonably foreseeable
                                         or prevented or
                                         otherwise caused by or under the control
                                         of the party, such as floods, wars
                                         and riots. If a
                                         case of force majeure were to arise
                                         which materially affect the duties or obligations of a party,
                                         the party affected
                                         by it must inform
                                         the other party in writing of
                                         its occurrence within three (3) business days.
                                         In that case, both parties
                                         may then agree on
                                         one of the following:

 

		A)	To
                                         continue to
                                         carry out
                                         this Agreement
                                         under the
                                         same terms and
                                         conditions, making provision for compliance subject to the issues affected by
                                         the Force Majeure;

		B)	To
                                         continue to
                                         carry out
                                         this Agreement
                                         under new
                                         conditions;

C)
To terminate this Agreement
without any further
obligations;

D)
If no agreement is
reached, this Agreement
may be terminated
by the party to whom the duties or obligations are due, after proper notice and time to cure regarding a default (as set forth
in this Agreement).

 

		13.	CONFLICT
                                         RESOLUTION: This Agreement
                                         shall be
                                         governed by,
                                         construed and
                                         enforced in
                                         accordance with
                                         the laws
                                         of the jurisdiction
                                         in the State of Florida.
                                         Any dispute that the parties cannot resolve
                                         through mediation must submit to
                                         arbitration. Such arbitration shall
                                         be arbitrated in Palm Beach County, Florida,
                                         whether commenced by TNI or KRS, in accordance
                                         with the applicable rules of the American
                                         Arbitration Association,
                                         Commercial Dispute Resolution Procedures,
                                         and judgment on the award rendered by the arbitrator(s)
                                         shall be binding on the parties and
                                         may be entered in any court having jurisdiction.

 

		14.	REVISION
                                         AND MODIFICATIONS
                                         TO THIS AGREEMENT:
                                         The parties agree
                                         to revise
                                         this Agreement, on
                                         an annual
                                         basis. Any
                                         modification that
                                         may be agreed upon must be done
                                         in writing signed by the parties and in the
                                         form of an addendum
                                         and will be
                                         considered part of this Agreement.

 

		15.	MISCELLANEOUS:

 

		A)	Subject
                                         to applicable law, this Agreement may be amended, modified, or supplemented only by a
                                         written agreement signed by parties.

		B)	Any
                                         failure of any party to comply with any obligation, covenant, agreement, or condition
                                         herein may be waived by the party entitled to the performance of such obligation, covenant,
                                         or agreement or who has the benefit of such condition, but such waiver or failure to
                                         insist upon strict compliance with such obligation, covenant, agreement, or condition
                                         will not operate as a waiver of, or estoppel with respect to, any subsequent or other
                                         failure. Whenever this Agreement requires or permits consent by or on behalf of any party
                                         hereto, such consent will be given in a manner consistent with the requirements for a
                                         waiver of compliance as set forth above.

		C)	All
                                         notices, requests, demands, and other communications required or permitted hereunder
                                         will be in writing and will be deemed to have been duly given when delivered by hand,
                                         or one day when sent overnight by a nationally recognized overnight delivery service
                                         (such as FEDEX), or two days after being mailed by certified or registered mail, return
                                         receipt requested, with postage prepaid:

 

 

	 		 
	 	If
to TNI:	Immune Therapeutics, Inc.
			37 North Orange
                                         Ave., Suite 607

			Orlando, Florida
                                         32801
	 	 	Attention: General
                                         Counsel
	 	 	 
	 	If
to the KRS:	KRS Global Bio Technologies, Inc.
	 	 	791 Park
of Commerce Blvd. Suite 600
	 	 	Boca Raton,
Florida 33487
	 	 	 
	 	Copy
to:	Bruce Jay Toland, Esq.,
	 	 	Bruce Jay
Toland, P.A.
	 	 	Brickell
City Tower
	 	 	80 SW 8th
Street, #2805
	 	 	Miami, FL 33130
	 	 	 

			

 

or to such
other address as the parties may furnish to each other in writing.

 

 

		D)	All
                                         section titles or captions contained in this Agreement are for convenience only and shall
                                         not be deemed part of the context nor effect the interpretation of this Agreement.

		E)	This
                                         Agreement contains the entire understanding between and among the parties and supersedes
                                         any prior understandings and agreements among them respecting the subject matter of this
                                         Agreement. 

		F)	This
                                         Agreement shall be binding upon the heirs, executors, administrators, successors and
                                         assigns of the parties hereto.

		G)	In
                                         the event an arbitration is brought by any party under this Agreement to enforce any
                                         of its terms, or in any appeal therefrom, it is agreed that the prevailing party shall
                                         be entitled to reasonable attorneys’ fees to be fixed by the arbitrator and/or
                                         appellate court.

		H)	In
                                         computing any period of time pursuant to this Agreement, the day of the act, event or
                                         default from which the designated period of time begins to run shall be included, unless
                                         it is a Saturday, Sunday, or a legal holiday, in which event the period shall begin to
                                         run on the next day which is not a Saturday, Sunday, or legal holiday, in which event
                                         the period shall run until the end of the next day thereafter which is not a Saturday,
                                         Sunday, or legal holiday.

		I)	All
                                         pronouns and any variations thereof shall be deemed to refer to the masculine, feminine,
                                         neuter, singular, or plural as the identity of the person or persons may require.

		J)	This
                                         Agreement or any section thereof shall not be construed against any party due to the
                                         fact that said Agreement or any section thereof was drafted by said party.

		K)	The
                                         parties hereto shall execute and deliver all documents, provide all information and take
                                         or forbear from all such action as may be necessary or appropriate to achieve the purposes
                                         of the Agreement.

		L)	Nothing
                                         herein shall be construed to be to the benefit of any third party, nor is it intended
                                         that any provision shall be for the benefit of any third party.

		M)	If
                                         any provision of this Agreement, or the application of such provision to any person or
                                         circumstance, shall be held invalid, the remainder of this Agreement, or the application
                                         of such provision to persons or circumstances other than those as to which it is held
                                         invalid, shall not be affected thereby. 

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth above.

 

	Immune
Therapeutics, Inc.

	 	 KRS Global Bio Technology, Inc. 

	 	 	 
	By:
/s/ Chris Pearce 	 	By:
/s/ Ricardo Roscetti
	Christopher
Pearce, COO	 	Ricardo Roscetti, CEO
	 	 	 
	By:
/s/ Noreen Griffin	 	 
	Noreen
Griffin, CEO	 	 

 

 

    	 

    	 

    

 

	Exhibit
    “A” Payment Terms and Conditions	 
	 	 
	Net
    Distributable Revenue Calculation (30 day supply) Without blister pack:	 
	 

        Gross
        Revenue (excluding actual shipping costs)
	(A)
	Less
    API Cost .06 Per Tablet (Advanced by TNI)	(B)
	Less
    Packaging, Excipient & CC Charges (Advanced by KRS)	(C)
	  Box
    for Medication	 
	  Shipping
    Box	 
	  Bottle
    & Label	 
	  Excipients	 
	  Less
    Credit Card Charge @ 2.5% (calculated with shipping charge)	 
	   Total
    Per Order	 
	  Net
    Distributable Revenue	(D)
	 	 
	 	 
	Net
    Distributable Revenue Calculation (30 day supply) With blister pack:	 
	 

        Gross
        Revenue (excluding actual shipping costs)
	(A)
	Less
    API Cost .06 Per Tablet (Advanced by TNI)	(B)
	Less
    Packaging, Excipient & CC Charges (Advanced by KRS)	(C)
	  Blister
    pack	 
	  Box
    for Medication	 
	  Shipping
    Box	 
	  Excipients	 
	  Less
    Credit Card Charge @ 2.5% (calculated with shipping charge)	 
	   Total
    Per Order	 
	  Net
    Distributable Revenue	(D)
	 	 
	*Shipping
    charge of a flat $10.00 for ground will be collected and retained by KRS.  	 
	Additional
    charge for overnight shipping will be determined based on patient zip code.	 
	 	 
	 	 
	TNI
    Reimbursement Calculation:	 
	API
    Reimbursement	(B)
	50%
    of Net Distributable Revenue (D)	(D)
	  Due
    to TNI	Total
    of B&DExhibit 10.1

 

MACK-CALI REALTY CORPORATION

 

RESTRICTED SHARE AWARD AGREEMENT

 

 

AGREEMENT EVIDENCING THE GRANT

OF A RESTRICTED SHARE AWARD PURSUANT

TO THE 2013 INCENTIVE STOCK PLAN

OF MACK-CALI REALTY CORPORATION

 

AGREEMENT (“Agreement”) effective as of December 9, 2014 (“Grant Date”) by and between Mack-Cali Realty Corporation (the “Company”) and [                    ] (“Recipient”).

 

WHEREAS, pursuant to the 2013 Incentive Stock Plan of Mack-Cali Realty Corporation (the “Plan”), the Company hereby awards shares of the Company’s common stock, par value $.01 per share (“Common Stock”) to the Recipient subject to such terms, conditions, and restrictions (hereinafter, “Restricted Share Award”) as set forth in the Plan, and this Agreement;

 

NOW THEREFORE, the parties hereto hereby agree as follows:

 

1.             Award of Shares of Restricted Stock.

 

Pursuant to the Plan, the Committee hereby awards to the Recipient, effective as of the Grant Date, a Restricted Share Award representing the conditional receipt of Four Thousand Two Hundred Thirteen (4,213) shares of Common Stock (“Restricted Shares”) to the Recipient subject to the terms, conditions and restrictions set forth herein.  Capitalized terms not otherwise defined in this Agreement shall be as defined in the Plan.

 

2.             Award Restrictions.

 

(a)           General Rules.  Ownership of Restricted Shares shall not vest in the Recipient, and shall be subject to forfeiture until the conditions of Section 2(b) or Section 4 are fully satisfied.  For purposes of this Agreement, the following concepts shall be defined as follows: (i) the lapse of restrictions on the Recipient’s rights with

 

 

respect to the Restricted Shares granted hereunder shall be referred to as “Vesting”; (ii) the period between the Grant Date and the date of Vesting shall be referred to as the “Vesting Period”; and (iii) the date Vesting occurs shall be referred to as the “Vesting Date.”

 

(b)           Vesting.  All of the Restricted Shares granted hereunder shall Vest and be deemed earned on January 1, 2016.  Vesting of the Restricted Shares granted hereunder is conditioned upon Recipient’s continued service with the Company as a member of the Board of Directors through and including the Vesting Date.

 

(c)           Lapse of Restrictions.  Upon the Vesting of Restricted Shares, the Recipient shall own the Shares free and clear of all restrictions imposed by this Agreement and the Recipient shall be free to hold or dispose of such Shares in his discretion, subject to applicable federal and state law or regulations.

 

(d)           Prohibition Against Assignment.  During the Vesting Period, the Restricted Shares may not be transferred or encumbered by the Recipient by means of sale, assignment, mortgage, transfer, exchange, pledge, or otherwise.  The levy of any execution, attachment, or similar process upon the Restricted Shares shall be null and void.

 

3.             Stock Certificates.

 

(a)           Certificates.  Restricted Shares shall be evidenced by a stock certificate registered in the name of the Recipient or a nominee or nominees therefor.  As soon as practicable following the date hereof, the Company shall prepare and issue such certificate for the Restricted Shares (the “Share Certificate”), which shall be registered in the name of the Recipient or a nominee and which shall bear such

 

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restrictive legend or legends (if any) as the Company may deem necessary or desirable under any applicable law.

 

(b)           Stock Powers.  The Recipient shall execute and deliver to the designee of the Company (the “Designee”) stock powers corresponding to the Share Certificate designating the Company as the transferee of an unspecified number of Restricted Shares, which stock powers may be completed by the Designee as specified herein.  The Recipient and the Company each waive the requirement that the signature of the Recipient on the stock powers be guaranteed.  Upon receipt of a copy of this Agreement and the stock powers, each signed by the Recipient, the Designee shall promptly notify the proper officers of the Company and the Share Certificate and stock powers shall be held by the Company in accordance with the terms of this Agreement.

 

(c)           Effect of Vesting.  Upon Vesting, the Company shall cause to be delivered to the Recipient (i) a certificate for the Restricted Shares which have vested free and clear of restrictive legends and (ii) any stock powers signed hereunder by the Recipient remaining in its possession related to the vested Restricted Shares.  In the event that the Recipient dies after Restricted Shares are vested but before delivery of the certificate for the vested Restricted Shares, such certificate shall be delivered to, and registered in the name of, the Recipient’s beneficiary or estate, as the case may be.

 

(d)           Rights of Stockholder.  Except as otherwise provided in Section 2 and this Section 3, during the Vesting Period and after the certificates for the Restricted Shares have been issued, the Recipient shall be entitled to all rights of a stockholder of the Company, including the right to vote and the right to receive dividends, with respect

 

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to the Restricted Shares subject to this Agreement.  Subject to applicable withholding requirements, if any, dividends on the Restricted Shares shall be paid to the Recipient when earned and payable.

 

(e)           Power of Designee.  The Designee is hereby authorized by the Recipient to utilize the stock power delivered by the Recipient to transfer all forfeited Restricted Shares to the Company upon receipt of instructions from a duly authorized representative of the Company.

 

4.             Termination of Service.

 

(a)           Termination Due to Disability, Death or Retirement; Change in Control.  If the Recipient’s service as a member of the Board of Directors terminates due to Disability, death or Retirement, all Restricted Shares subject to this Agreement and held by, or on behalf of, the Recipient shall be deemed earned and vested as of the Recipient’s last day of service as a member of the Board of Directors.  In addition, all Restricted Shares subject to this Agreement and held by the Recipient on the date a Change in Control occurs shall be deemed earned and vested as of such date.

 

(b)           Termination for Any Other Reason.  If the Recipient’s service as a member of the Board of Directors terminates prior to the Vesting Date and prior to the occurrence of a Change in Control for reasons other than Disability, death or Retirement, any Restricted Shares subject to this Agreement that have not been earned and vested on the last day of the Recipient’s service as a member of the Board of Directors shall be immediately forfeited.

 

5.             Withholding.

 

In connection with the delivery of any stock certificates, or the making of any

 

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payment in accordance with the provisions of this Agreement, to the extent not otherwise paid by or on behalf of the Recipient, the Company shall withhold Restricted Shares or cash amounts (for fractional Restricted Shares) equal to the taxes, if any, then required by applicable federal, state and local law to be so withheld.

 

6.             Adjustments for Capital Changes.

 

In the event of any change in the outstanding shares of Common Stock of the Company by reason of any stock dividend or split, recapitalization, merger, consolidation, spin-off, reorganization, combination or exchange of shares, or other similar corporate change, or other increase or decrease in such shares effected without receipt or payment of consideration by the Company, a duly authorized representative of the Company shall adjust the number of Restricted Shares granted pursuant to the Plan and this Agreement to prevent dilution or enlargement of the rights granted to the Recipient.

 

7.             No Right to Continued Service.

 

Nothing in this Agreement shall confer on the Recipient any right to continue as a member of the Board of Directors.

 

8.             Notice.

 

Any notice to the Company hereunder shall be in writing addressed to:

 

Mack-Cali Realty Corporation

P.O. Box 7817

Edison, New Jersey  08818 -7817

Attn:       Chief Executive Officer

 

Any notice to the Recipient hereunder shall be in writing addressed to:

 

[                                    ]

 

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or such other address as the Recipient shall notify the Company in writing.

 

9.             Section 409A.

 

This Restricted Share Award Agreement is not intended to provide for an elective deferral of compensation that would be subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Company reserves the right to unilaterally amend or modify this Agreement to ensure that the awards do not become subject to the requirements of Section 409A thereof.

 

10.          Entire Agreement.

 

This Agreement contains the entire understanding of the parties and shall not be modified or amended except in writing and duly signed by each of the parties hereto.  No waiver by either party of any default under this Agreement shall be deemed a waiver of any later default hereunder.

 

11.          Construction.

 

The various provisions of this Agreement are severable in their entirety.  Any determination of invalidity or unenforceability of any one provision shall have no effect on the continuing force and effect of the remaining provisions.  All capitalized terms used and not otherwise defined herein shall have those meanings ascribed to them in the Plan.

 

12.          Governing Law.

 

This Agreement shall be governed by the laws of the State of New Jersey applicable to contracts made, and to be enforced, within the State of New Jersey.

 

13.          Successors.

 

This Agreement shall be binding upon and inure to the benefit of the successors, assigns and heirs of the respective parties.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective on the date first above written.

 

 

	
 
    	
Mack-Cali Realty Corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Recipient
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    

 

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